UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 811-05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, IL 60606

(Address of principal executive offices) (Zip code)

Kevin J. McCarthy

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

(Name and address of agent for service)

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

Date of fiscal year end: June 30

Date of reporting period: June 30, 2013

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 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. ss.3507.

ITEM 1. REPORTS TO STOCKHOLDERS.

Mutual Funds

Nuveen Income Funds

For investors seeking attractive monthly income and portfolio diversification potential.

Annual Report

June 30, 2013

	Share Class / Ticker Symbol
Fund Name	Class A	Class B	Class C	Class R3	Class I
Nuveen Core Bond Fund (formerly Nuveen Intermediate Term Bond Fund)	FAIIX	—	NTIBX	—	FINIX
Nuveen Core Plus Bond Fund	FAFIX	FFIBX	FFAIX	FFISX	FFIIX
Nuveen Global Total Return Bond Fund	NGTAX	—	NGTCX	NGTRX	NGTIX
Nuveen High Income Bond Fund	FJSIX	FJSBX	FCSIX	FANSX	FJSYX
Nuveen Inflation Protected Securities Fund	FAIPX	—	FCIPX	FRIPX	FYIPX
Nuveen Intermediate Government Bond Fund	FIGAX	—	FYGCX	FYGRX	FYGYX
Nuveen Short Term Bond Fund	FALTX	—	FBSCX	NSSRX	FLTIX
Nuveen Strategic Income Fund	FCDDX	FCBBX	FCBCX	FABSX	FCBYX

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Table of Contents

Letter to Shareholders	4
Portfolio Managers’ Comments	5
Fund Performance and Expense Ratios	21
Yields	38
Holding Summaries	40
Expense Examples	44
Report of Independent Registered Public Accounting Firm	46
Portfolios of Investments	47
Statement of Assets and Liabilities	135
Statement of Operations	139
Statement of Changes in Net Assets	141
Financial Highlights	146
Notes to Financial Statements	162
Trustees and Officers	191
Annual Investment Management Agreement Approval Process	195
Glossary of Terms Used in this Report	201
Additional Fund Information	203

Letter to Shareholders

Dear Shareholders,

After nine years of serving as lead director and independent chairman of the Nuveen Fund Board, my term of office has come to an end as of June 30, 2013. It has been a privilege to use this space to communicate with you on some of the broad economic trends in the U.S. and abroad and how they are impacting the investment environment in which your funds operate. In addition, I have enjoyed offering some perspective on how your Board views the various Nuveen investment teams as they apply their investment disciplines in that investment environment.

My term has coincided with a particularly challenging period for both mutual fund sponsors and investors. Since 2000 there have been three periods of unusually strong stock market growth and two major market declines. Recent years have been characterized by a search for yield in fixed income securities to compensate for an extended period of very low interest rates. Funds are investing more in foreign and emerging markets that require extensive research capabilities to overcome the more limited transparency and higher volatility in those markets. New fund concepts often incorporate derivative financial instruments that offer efficient ways to hedge investment risk or gain exposure to selected markets. Fund trading teams operate in many new domestic and international venues with quite different characteristics. Electronic trading and global communication networks mean that fund managers must be able to thrive in financial markets that react instantaneously to newsworthy events and are more interconnected than ever.

Nuveen has committed additional resources to respond to these changes in the fund industry environment. It has added IT and research resources to assemble and evaluate the increased flow of detailed information on economies, markets and individual companies. Based on its experience during the financial crisis of 2008-09, Nuveen has expanded its resources dedicated to valuing and trading portfolio securities with a particular focus on stressed financial market conditions. It has added systems and experienced risk management professionals to work with investment teams to better help evaluate whether their funds’ risk exposures are appropriate in view of the return targets. The investment teams have also reflected on recent experience to reaffirm or modify their investment disciplines. Finally, experienced professionals and IT resources have been added to address new regulatory requirements designed to better inform and protect investors. The Nuveen Fund Board has enthusiastically encouraged these initiatives.

The Board has always viewed itself as your representatives to assure that Nuveen brings together experienced people, proven technologies and effective processes designed to produce results that meet investor expectations. It is important to note that our activities are highlighted by the annual contract renewal process. Despite its somewhat formal language, I strongly encourage you to read the summary because it offers an insight into our oversight process. The report is included in the back of this shareholder report. The renewal process is very comprehensive and includes a number of evaluations and discussions between the Board and Nuveen during the year. The summary also describes what has been achieved across the Nuveen fund complex and at individual funds such as yours.

As I leave the chairmanship and resume my role as a member of the Board, please be assured that I and my fellow Board members will continue to hold your interests uppermost in our minds as we oversee the management of your funds and that we greatly appreciate your confidence in your Nuveen fund.

Very sincerely,

Robert P. Bremner

August 22, 2013

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Portfolio Managers’ Comments

These Funds feature portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen Investments. In this report, the various portfolio management teams for the Funds examine economic and market conditions, key investment strategies and the Funds’ performance for the twelve-month period ended June 30, 2013. These management teams include:

Nuveen Core Bond Fund (formerly the Nuveen Intermediate Term Bond Fund)

Wan-Chong Kung, CFA, has managed the Fund since 2002 and Jeffrey Ebert since 2000. Chris Neuharth, CFA, joined the Fund as a co-portfolio manager in 2012. Effective May 31, 2013, the Nuveen Intermediate Term Bond Fund’s name was changed to the Nuveen Core Bond Fund. There were no changes to the Fund’s investment objectives or policies.

Nuveen Core Plus Bond Fund

Chris Neuharth, CFA, has managed the Fund since 2006. Timothy Palmer, CFA, Wan-Chong Kung, CFA, and Jeffrey Ebert have been part of the management team for the Fund since 2003, 2001, and 2005, respectively.

Nuveen Global Total Return Bond Fund

Timothy Palmer, CFA, and Steven Lee, CFA, have managed the Fund since its inception in 2011.

Nuveen High Income Bond Fund

John Fruit, CFA, has managed the Fund since 2006. Jeffrey Schmitz, CFA, has been part of the management team for the Fund since 2008.

Nuveen Inflation Protected Securities Fund

Wan-Chong Kung, CFA, has managed the Fund since its inception in 2004 and Chad Kemper joined the Fund as a co-portfolio manager in 2010.

Nuveen Intermediate Government Bond Fund

Wan-Chong Kung, CFA, has managed the Fund since 2002. Chris Neuharth, CFA, and Jason O’Brien, CFA, have been on the Fund’s management team since 2009.

Nuveen Short Term Bond Fund

Chris Neuharth, CFA, has been a co-portfolio manager of the Fund since 2004. Peter Agrimson, CFA, joined the Fund as a co-portfolio manager in 2011.

Nuveen Strategic Income Fund

Timothy Palmer, CFA, has been the lead manager of the Fund since 2005. Jeffrey Ebert has been on the management team since 2000. Marie Newcome, CFA, joined the Fund as a co-portfolio manager in 2011.

Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.

Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.

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What factors affected the U.S. economy and equity markets during the twelve-month reporting period ended June 30, 2013?

During this reporting period, the U.S. economy’s progress toward recovery from recession continued at a moderate pace. The Federal Reserve (Fed) maintained its efforts to improve the overall economic environment by holding the benchmark fed funds rate at the record low level of zero to 0.25% that it established in December 2008. The Fed also continued its monthly purchases of $40 billion of mortgage-backed securities and $45 billion of longer-term Treasury securities in an open-ended effort to bolster growth. However, at its June 2013 meeting, the Central Bank indicated that downside risks to the economy had diminished since the fall of 2012. Although the Fed made no changes to its highly accommodative monetary policies at the June meeting, Chairman Bernanke’s remarks afterward indicated the Central Bank could slow the pace of its bond buying program later this year if the economy continues to improve.

As measured by gross domestic product (GDP), the U.S. economy grew at an estimated annualized rate of 1.7% in the second quarter of 2013, compared with 1.1% for the first quarter, continuing the pattern of positive economic growth for the 16th consecutive quarter. The Consumer Price Index (CPI) rose 1.8% year-over-year as of June 2013, while the core CPI (which excludes food and energy) increased 1.6% during the period, staying within the Fed’s unofficial objective of 2.0% or lower for this inflation measure. Meanwhile, labor market conditions continued to slowly show signs of improvement, although unemployment remained above the Central Bank’s 6.5% target. As of June 2013, the national unemployment rate was 7.6%, down from 8.2% a year ago. The housing market, long a major weak spot in the U.S. economic recovery, also delivered some good news as the average home price in the S&P/Case-Shiller Index of 20 major metropolitan areas rose 12.2% for the twelve months ended May 2013 (most recent data available at the time this report was prepared). This marked the largest twelve-month percentage gain for the index since March 2006. However, the outlook for the U.S. economy continued to be clouded by uncertainty about global financial markets and the outcome of the “fiscal cliff.” The tax consequences of the fiscal cliff situation, which had been scheduled to become effective in January 2013, were averted through a last minute deal that raised payroll taxes, but left in place a number of tax breaks. However, lawmakers postponed and then failed to reach a resolution on $1.2 trillion in spending cuts intended to address the federal budget deficit. As a result, automatic spending cuts (or sequestration) affecting both defense and non-defense programs (excluding Social Security and Medicaid) took effect March 1, 2013, with potential implications for U.S. economic growth over the next decade. In late March 2013, Congress passed legislation that established federal funding levels for the remainder of fiscal 2013, which ends on September 30, 2013, preventing a federal government shutdown. The proposed federal budget for fiscal 2014 remains under debate.

For the majority of the reporting period, the backdrop of generally improving economic data and diminished systemic risk fears was supportive of risk assets in general and fixed income spread sectors specifically. The pressure to find yield continued to provide strong technical underpinnings to the market as investor flows indicated robust demand for fixed income securities for most of the fiscal year. However, the tide quickly turned in the final month of the reporting period, triggered by Fed Chairman comments that the economic outlook had improved enough to warrant a possible “tapering” of the central bank’s quantitative easing programs as soon as September of this year, earlier than the market anticipated. In response, Treasury yields rose sharply, while global risk assets including equities, spread products and growth-sensitive currencies sold off significantly. The combination of rising yields and a sell-off in risk assets in June was somewhat unique in that the two have generally been negatively correlated over the past several years. The common thread in the markets appeared to be a general “de-risking” by investors based on concerns about the central bank’s withdrawal of policy stimulus.

Despite the extraordinary late-period volatility, the fiscal year still ended with spread sectors generally outperforming U.S. Treasury securities. The broad-based Barclays Aggregate Bond Index showed a return of -0.69% for the reporting period. High-yield corporate bonds held up the best, with the Barclays High Yield 2% Issuer Capped Index returning 9.49% for the reporting period. Late in the period, these securities’ higher yield levels and shorter durations helped

6 Nuveen Investments

cushion them during the volatility. Returns for investment-grade corporates were much lower than their high-yield counterparts, with the Barclays U.S. Corporate Investment Grade Index gaining 1.36% for the reporting period; however, within the investment-grade market, financials significantly outperformed industrials. Among the various securitized sectors, commercial mortgage-backed securities (CMBS) posted strong annual results as the segment benefited from investor demand for high-quality, low beta bonds with incremental spread over government securities. In the mortgage sector, rates rose sharply and volatility spiked after the Fed Chairman’s comments, causing agency mortgage-backed securities (MBS) to underperform most other high-grade asset classes as investors reduced their holdings amid fund outflows. Longer term Treasuries and Treasury inflation protected securities (TIPS) were the period’s worst performers with TIPS returning -4.78% as measured by the Barclays TIPS Index. Outflows continued from this sector as year-to-date returns have been poor and fears of Fed-induced higher inflation failed to materialize.

How did the Funds perform during the twelve-month reporting period ended June 30, 2013?

The tables in the Fund Performance and Expense Ratios section of this report provide total return performance information for the one-year, five-year, ten-year and/or since inception periods ending June 30, 2013. Each Fund’s Class A Share total returns at net asset value (NAV) are compared with the performance of the appropriate Barclays Index and Lipper classification average.

What strategies were used to manage the Funds during the twelve-month reporting period? How did these strategies influence performance?

All of the Funds continued to employ the same fundamental investment strategies and tactics used previously, although implementation of those strategies depended on the individual characteristics of the portfolios, as well as market conditions. The Funds’ management teams used a highly collaborative, research-driven approach that we believe offers the best opportunity to achieve consistent, superior long-term performance on a risk-adjusted basis across the full range of market environments. Going into the reporting period, the Funds were generally positioned for an environment of continued moderate economic growth and improving financial conditions, a posture we remained committed to during the period. Nonetheless, during the period we made smaller scaled shifts on an ongoing basis that were geared toward improving each Fund’s profile in response to changing conditions and valuations. These strategic moves are discussed in more detail within each Fund’s section of this report.

Nuveen Core Bond Fund (formerly the Nuveen Intermediate Term Bond Fund)

The Fund’s Class A Shares at NAV outperformed the Barclays Aggregate Bond Index and underperformed the Lipper Intermediate Investment Grade Debt Funds Classification Average for the twelve-month reporting period. Effective May 14, 2012, the Nuveen Core Bond Fund (formerly the Nuveen Intermediate Term Bond Fund) changed its benchmark from the Barclays Intermediate Government/Credit Bond Index to the Barclays Aggregate Bond Index. We changed the composition of the Fund in mid-May 2012 in response to changes to its management philosophy and benchmark. The Fund is now managed to the Barclays Aggregate Bond Index, as opposed to the Barclays Intermediate Government/Credit Bond Index, and portfolio positioning has been modified to reflect this change. The rationale for the change was to recognize that the Fund provides shareholders with investment exposure similar to the broad fixed income market, as represented by the Fund’s new benchmark. The new benchmark, by encompassing the broad fixed income market, is less concentrated than the old benchmark, and provides a more accurate representation of the portfolio by including securitized products, an asset class that represents 35% of the strategy’s investments. The most significant effects of this change were a reduction in the Fund’s exposure to investment-grade credit, an increase in allocation to the U.S. MBS sector and a modest lengthening in the portfolio’s duration. As such, the change in the management philosophy reflects a moderate increase in the Fund’s risk profile.

Nuveen Investments 7

During the reporting period, sector weights and security selection were the most significant positive contributors to the Fund’s relative results versus the Barclays Index. In terms of sectors, we continued to position the Fund with substantial overweights to non-government areas of the bond market such as investment-grade credit and CMBS, while underweighting Treasury and agency securities. The investment-grade corporate market strongly outperformed Treasuries during the reporting period as the segment continued to be supported by investors’ search for yield, strong fundamentals, a gradually improving U.S. economy and the Fed’s highly accommodative monetary policy. Our investment-grade overweight added significantly to performance during the period, with the Fund benefiting from the additional yield available from bonds in these sectors as well as the gains associated with narrowing risk premiums for credit. Meanwhile, an overweight to CMBS also proved beneficial as this sector was the top performing securitized asset class over the one-year period. The CMBS segment benefited from investor demand for high quality, lower risk bonds with incremental spread over government securities.

In terms of security selection, the Fund was rewarded for a substantial overweight to bank/financial credits within the investment-grade sector. According to Barclays, the financial sub-sector of the investment-grade market was one of the top performing areas of the overall fixed income market during the reporting period. For an extended period of time, we have been strong proponents of the value of financial credits based on their improving investment fundamentals. The market increasingly embraced this view as financial spreads tightened versus industrials, continuing the segment’s strong relative performance from recent periods. Additionally, the Fund benefited from our downward bias in credit quality within our investment-grade portfolio, emphasizing BBB-rated corporates, which outperformed higher rated investment-grade securities over the twelve-month reporting period.

Our interest rate strategy was centered on being defensively positioned, which means the Fund’s duration was shorter than its benchmark making it less sensitive to rate changes. This strategy was beneficial overall to the Fund’s performance, especially in the final months of the reporting period.

Because the Fund’s MBS weighting was neutral to underweight versus the Barclays Index, this sector did not have a meaningful impact on performance verses the benchmark. We maintained the Fund’s defensive positioning within the agency MBS sector as Fed purchase activity resulted in these securities trading at unattractive valuations and we saw more downside than upside potential.

The Fund’s shortfall versus its Lipper average was due to our less aggressive allocation than many of our peers, including a lack of exposure to any non-investment-grade securities, which are not allowed in this portfolio. In an environment where riskier fixed income asset classes outperformed, this shortfall is to be expected.

We maintained the Fund’s strategic emphasis on investment-grade corporates and high quality non-government securitized debt throughout the period. However, we took advantage of the extreme market volatility at the end of the reporting period to make adjustments to the portfolio to manage risk and position for intermediate-term performance opportunities. Within investment-grade credit, our activity was oriented toward repositioning based on relative value opportunities and research based ideas. We added modestly to the Fund’s positions in intermediate duration investment-grade credit in the industrials segment. We also lessened the Fund’s underweight to agency MBS after the sector cheapened in the second half of the reporting period.

Lastly, we continued to invest in derivative instruments. Treasury note and bond futures were used to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The derivative positions detracted from performance during the period. The Fund also utilized interest rate swaps as part of an overall portfolio construction strategy to manage duration and overall portfolio yield curve exposure. The swap positions detracted mildly from performance during the period.

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Nuveen Core Plus Bond Fund

The Fund’s Class A Shares at NAV outperformed both the Barclays Aggregate Bond Index and the Lipper Intermediate Investment Grade Debt Funds Classification Average for the twelve-month reporting period. During the period, security selection and overweights in the corporate market were the biggest positive contributors to the Fund’s relative performance versus its benchmark. We continued to position the Fund with significant overweights to both the investment-grade and high yield corporate sectors and corresponding underweights to the Treasury and agency segments. Corporate bonds strongly outperformed Treasuries over the twelve-month reporting period as the market continued to be supported by investors’ search for yield, strong fundamentals, a gradually improving U.S. economy and the Fed’s highly accommodative monetary policy. Our investment-grade and high yield positions added to performance during the period, with the Fund benefiting from the additional yield available from bonds in these sectors as well as the gains associated with narrowing risk premiums for credit.

In particular, the Fund was rewarded for a substantial overweight to bank/financial credits within the investment-grade sector, as its weight was at least two-and-a-half times higher than its benchmark. According to Barclays, the financial sub-sector of the investment-grade market was one of the top-performing areas of the overall fixed income market during the reporting period. For quite some time, we have been strong proponents of the value of financial credits based on their improving investment fundamentals. The market increasingly embraced this view as financial spreads tightened versus industrials, continuing the segment’s strong relative performance from recent periods. Additionally, the Fund benefited from our downward bias in credit quality within the investment-grade sector, emphasizing BBB-rated corporates, which outperformed higher rated investment-grade securities over the twelve months.

Within the securitized areas of the market, the CMBS sector was the top performer over the one-year period. The segment benefited from investor demand for high-quality, lower-risk bonds with incremental spread over government securities. Therefore, our Fund’s overweight position in CMBS was also a positive contributor to returns. Agency MBS had only a marginally positive impact on performance.

Our duration strategy, which indicates the Fund’s sensitivity to interest rate changes, was centered mostly on being defensively positioned with duration shorter than the benchmark. This strategy aided performance during the reporting period. We also positioned the Fund with an overweight to longer dated securities as part of our bias toward a flattening yield curve, which was not beneficial in the period’s second half. Other than that, the Fund experienced no meaningful detractors to its performance during the twelve-month reporting period.

While our main strategic emphasis on non-government sectors remained in place during the period, we took advantage of the extreme market volatility at the end of the reporting period to make adjustments to the portfolio to manage risk and position for intermediate-term performance opportunities. We continued to emphasize corporates, with activity in the sector oriented toward repositioning based on relative value opportunities and research based ideas. We had reduced the Fund’s high yield exposure marginally in April 2013, which allowed us to take advantage of attractive valuations during the June sell-off to add to credits with yield and return potential. We also increased the Fund’s exposure to lower rated investment-grade issues late in the period to capitalize on attractive valuations. We added to bottom-up, selection based opportunities in the mortgage sector and marginally reduced the Fund’s positions in CMBS to fund other investment opportunities. We continued to maintain a very small exposure to emerging market credit, which had little impact on performance over the twelve-month reporting period. We also continued to actively manage interest rate exposure, remaining defensive in the Fund’s portfolio duration positioning to protect against higher rates.

During the period, we also continued to invest in derivative instruments. Treasury note and bond futures were used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The effect of these activities benefited performance during the period. We also utilized interest rate swaps to manage portfolio duration and yield curve exposure, and these positions also contributed to performance.

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We utilized foreign exchange forwards to manage foreign currency exposure. For example, to reduce unwanted currency exposure from the Fund’s portfolio, the Fund would acquire a short foreign currency forward. These positions had a limited impact on performance during the period.

Credit default swaps were used to add diversified exposure to a broad segment of the credit markets, or to express a view on credit as part of an overall portfolio sector management strategy. For example, to increase the Fund’s credit exposure to the high yield bond segment of the market, a long CDX High Yield Index swap would be acquired. These swap positions detracted from performance during the period.

We also utilized options on U.S. Treasury note futures as part of an overall portfolio interest rate strategy. For example, call options may be purchased to hedge the portfolio against adverse interest rate movements while limiting downside exposure to the portfolio. The effect of these activities mildly detracted from performance during the period.

Nuveen Global Total Return Bond Fund

The Fund’s Class A Shares at NAV outperformed the Barclays Global Aggregate Unhedged Bond Index and the Lipper Global Income Funds Classification Average for the twelve-month period. The Fund continued to employ the same fundamental investment strategies and tactics used previously, although implementation of those strategies depended on market conditions. The Fund’s management team used a highly collaborative, research driven approach that we believe offers the best opportunity to achieve consistent, superior long-term performance on a risk-adjusted basis across the full range of market environments. Going into the reporting period, the Fund was generally positioned for an environment of continued moderate economic growth and improving financial conditions, a posture we remained committed to during the period. Nonetheless, during the period we made smaller scaled shifts on an ongoing basis that were geared toward improving the Fund’s profile in response to changing conditions and valuations. These strategic moves are discussed in more detail below. The Fund also continued to invest in various derivative instruments during this reporting period, which are described later in this report.

The Fund experienced strong outperformance during the twelve-month reporting period due to favorable currency positioning and sector weights. The primary drivers of outperformance were currency selection and an overweight to credit sectors. Currency exposure added value versus the benchmark, particularly during the first six months of the period. Overall during the reporting period, the U.S. dollar and the Japanese yen declined significantly against most currencies globally, while the euro saw a recovery from depressed levels. Among the major currencies, the Mexican peso held up best. The Fund’s twelve-month results benefited significantly from our underweight to the Japanese yen. At the same time, returns were aided by our ongoing emphasis on growth sensitive or higher yielding currencies from both developed and emerging markets held at various times during the reporting period, including the Mexican peso, Korean won, Canadian dollar, Polish zloty and Norwegian krone. Although we gave back a portion of the gains we reaped from foreign currency exposure in the late period U.S. dollar rally, this was moderated by timely repositioning and market selection.

The Fund’s significant overweights to credit sectors, both investment grade and high yield, were also primary positive performance drivers over the fiscal year period. Both segments produced returns which exceeded Treasuries as the corporate market continued to be supported by investors’ search for yield, strong fundamentals, a gradually improving economy and the Federal Reserve’s highly accommodative monetary policy. The Fund’s high-yield overweight was particularly beneficial, as the segment was further bolstered by strong inflows for the majority of the period as well as the ongoing low default level. Within the Fund’s investment-grade portfolio, our strong bias toward bank/financial credits also added to twelve-month results. According to Barclays, the financial sub-sector of the investment-grade market was one of the top performing areas of the overall fixed income market during the reporting period. In addition, a number of our other individual credit selection themes within the industrial sectors benefited the Fund’s returns. Consistent with the other themes in credit, the Fund’s exposure to emerging market (EM) credit contributed favorably to its twelve-month results. Also, the Fund benefited from positions in European credit, as this segment outperformed U.S. credit during the period. We subsequently reduced the Fund’s exposure in European credit following the strong bout of performance.

10 Nuveen Investments

Our underweight to the MBS sector was also advantageous to the Fund during the reporting period. We remained defensively positioned in the agency MBS sector throughout the fiscal year as the Fed’s purchase activity resulted in this sector trading at unattractive valuations. After the Fed Chairman’s comments in May, rates rose sharply and volatility spiked in the mortgage sector, which caused agency MBS to underperform most other high-grade asset classes as investors reduced their holdings amid fund outflows.

Meanwhile, the Fund’s interest rate exposure was a modest drag on performance over the period. While our overall duration and underweight to U.S. interest rates as compared to the benchmark were beneficial, this positive effect was offset by an overweight to emerging market interest rates, which generally rose more than developed rates late in the period.

In response to changes in valuations and fundamental economic developments late in the reporting period, we meaningfully altered the Fund’s currency exposures. We reduced the Fund’s positions in former overweights to Australia, South Korea and Canada in light of economic developments. We also took advantage of a rally in the euro and other large developed currencies to sell positions, increasing the Fund’s U.S. dollar overweight significantly. With relative economic and policy progress in the U.S., the valuation and direction of the dollar is increasingly situational. Currency selection and relative performance based on idiosyncratic factors are becoming major determinants as the global recovery matures. We also added to favored currencies on weakness, including the Indian rupee and Turkish lira. We reduced the Fund’s peripheral European bond exposure, based on recovery in valuations and rising structural risk. At the same time, we selectively added to several EM bond markets at higher yields following the Fed-induced sell-off at the end of the period, believing these had overshot fundamentals amid short-term investor liquidation.

Our other primary strategic sector and duration themes remained largely in place during the period. However, we took advantage of volatile market conditions at the end of the reporting period to make adjustments to the Fund to manage risk and position for intermediate-term performance opportunities. We continued to emphasize corporates, with activity in the sector oriented toward repositioning based on relative value opportunities and research based ideas. After reducing the Fund’s high-yield exposure in April, we were able to take advantage of the attractive valuations toward the end of the period, adding to credits with yield and return potential. We continued to actively manage interest rate exposure, remaining defensive overall in the Fund’s portfolio duration to protect against higher rates.

We also used options on note and bond futures as part of an overall portfolio interest rate strategy. For example, call options may be purchased to hedge the portfolio against adverse interest rate movements while limiting downside exposure to the portfolio. The effect of these activities mildly detracted from performance during the period.

We wrote put options and purchased call options on select currencies during the period in an attempt to benefit from changes in the spot values of these currencies, and foreign exchange forwards were used to gain exposure to selected foreign currencies, as well as in some cases to hedge the currency risk present in a foreign bond. The overall effect of the option activities was modestly negative while the overall effect on the portfolio of the foreign exchange forwards was modestly positive during the period.

We sold U.S. Treasury futures to hedge against potential increases in U.S. interest rates and purchased selected foreign bond futures to gain exposure to those markets. The effect of these activities in the period was a modestly positive one. Credit default swaps were also utilized as a way to take on credit risk and earn a commensurate credit spread. These derivative exposures are integrated with the overall portfolio construction and such losses and gains may be naturally related to and/or may offset impacts elsewhere in the portfolio.

Interest rate swaps are used as part of an overall portfolio interest rate strategy. For example, swaps in which the Fund pays a fixed rate of interest in exchange for a floating rate may be used in anticipation of rising interest rates. The effect of these contracts on performance was positive during the period.

Nuveen Investments 11

Nuveen High Income Bond Fund

The Fund’s Class A Shares at NAV outperformed both the Barclays High Yield 2% Issuer Capped Index and the Lipper High Current Yield Funds Classification Average for the twelve-month reporting period. The high yield bond market enjoyed strong performance for the majority of the reporting period as many of the same dynamics that have manifested themselves over the course of the past two years continued to play out. These consisted of a fundamental backdrop that remained well supported by corporate earnings, robust capital market conditions, record low Treasury yields for most of the period and slowly improving economic growth, combined with low default activity in the segment. For the majority of the period, demand from both institutional and retail investors remained strong despite historically high prices, although the tide turned rather abruptly in the period’s final weeks. The high yield segment came under pressure in May and June as the Fed’s comments about the potential “tapering” of its quantitative easing programs earlier than the market anticipated triggered a sharp rise in Treasury yields and a corresponding significant sell-off in global risk assets including equities, spread products and growth sensitive currencies. Although historically retreats in high yield have typically been accompanied by equity declines and interest rate rallies, this time the sell-off in Treasuries triggered the riskier asset weakness. The common thread in the markets appeared to be a general “de-risking” by investors based on concerns about the central bank’s withdrawal of policy stimulus. As investors rapidly exited the bond markets, all major fixed income asset classes fell into negative territory in the final months. However, high yield corporates held up better than investment-grade corporates and Treasuries as their higher yield levels and shorter durations helped cushion them in the rising rate environment.

The Fund’s relative outperformance versus the index continued to be helped by its strong security selection and modest overweights to the lower quality B and CCC-rated tiers of the market and concurrent underweight to BB-rated securities. Our down-in-quality trade rewarded investors as riskier credits led the way, continuing the trend we have seen since last fall. This was partially the result of the increase in Treasury rates, which affected high quality paper disproportionally, but also owed to the greater liquidity of higher quality securities as exchange traded funds (ETFs) and other funds sold these securities to fund large redemptions in the final month of the reporting period.

Meanwhile, contributions from foreign and out-of-index holdings also benefited the Fund’s overall performance for the period. The Fund’s European high yield exposure was particularly helpful as the market fared much better than the

U.S. market, gaining 19.19% as measured by the Barclays Pan Euro High Yield Index during the reporting period. Earlier in the reporting period, the actions of the European Central Bank and the European Monetary Union to solve the liquidity problems of European banks and peripheral sovereigns helped high yield positions in the region’s corporate and banking sectors. Later in the period, European high yields were generally a bit more insulated from some of the weak technicals seen domestically. Results from emerging market (EM) high yield were also beneficial overall, although the segment experienced heavy selling pressure at the end of the reporting period. During the first six months of the period, the Fund’s EM exposure added significantly to performance as investor perceptions of reduced global macro tail risks set the stage for increasing demand for higher yielding instruments in EM credit and sovereigns. However, at the end of the period, EM debt suffered a familiar fate of underperforming during periods of increased volatility. The relative calm in these markets was upended in May as Chinese central banks indicated they would be adopting a more hawkish stance going forward. This, combined with an HSBC China Purchasing Managers Index reading that came in considerably below expectations, caused a large sell-off in emerging markets, which sent many sovereign and corporate spreads wider. Downward revisions to EM growth forecasts driven by a number of factors, coupled with various bouts of civil unrest in Brazil and Turkey, also contributed to poor sentiment toward these markets. Overall for the fiscal year ended June 30, 2013, the high yield EM sub-index returned 8.74% according to Barclays Index data. Over the past decade, the total return performance of EM debt has been very strong, confirming the historical case for investing in this asset class. Despite weaker fundamentals for some EM high yield names at the margin, the EM corporate default rate remained relatively low in 2012 and we expect default risk to trend even lower over 2013.

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Returns from the Fund’s other out-of-index exposures were small contributors to overall performance for the one-year period, with a small allocation to dividend-paying equities and certain closed-end funds performing well. In addition, the Fund’s exposure to preferred securities was beneficial because of our emphasis on floating rate preferreds. While preferred market indices underperformed the high yield market, floating-rate preferred securities held up better.

Additionally, results in the first half of the fiscal year were aided by the Fund’s overweights in some of that period’s better performing sectors such as homebuilders and chemicals. However, these favorable results were basically offset in the second half by a modest overweight to the mining sector, which continued to suffer due to concerns over the impact of slowing Chinese economic growth and concurrent weak metals pricing. Most commodity prices were down meaningfully during the period. While the investments we hold in this sector generally have strong balance sheets, a couple of noteworthy exceptions have more or less dragged down performance across the whole sector, including the struggling U.S. coal industry. The Fund’s overweight to the energy exploration and production segment was a slight distractor, yet our overweight to the oil services sector remained a net positive contributor during the reporting period. We remain constructive on much of the energy sector, based on strong oil pricing and robust demand for drilling rigs around the globe, which should benefit the services sector as a whole.

With defaults very well behaved across the entire high yield market over the period, the Fund generally experienced little in the way of credit impairments. The exceptions were contained to a couple of mining credits that encountered higher production costs, weaker commodity pricing and, therefore, more stretched balance sheets. The Fund, however, was able to avoid a number of higher profile problem credits that arose during the period, thus minimizing any sort of permanent impairment. We continue to believe that high yield loan and bond defaults will trend below average over the next few years, given the still healthy financial metrics of corporate issuers and the recent ability to extend debt maturities. We do not believe the recent widening in spreads is the result of credit deterioration, but rather reflective of the increased risk premium to account for heightened uncertainty over rates and Fed policy and to account for the subsequent rise in both equity and rate volatility.

After carrying a modest overweight to the B-rated and CCC-rated sectors of the market, we increased the Fund’s

single-B exposure even more relative to the benchmark weight at the end of the period. This move was simply a factor of finding enough attractive candidates in both new issue and secondary issuance, but also consistent with our strategy of overweighting those sectors of the market that are not as rate sensitive. In addition, we continue to believe the extra yield these bonds provide over BB-rated credits is adequate compensation for accepting the higher risks. With the recent 150 basis point increase in yields, we saw plenty to choose from across the entire quality spectrum, notwithstanding the fact that it may be hard for the market to put a lid on volatility as long as the Federal Reserve is at a crossroads in respect to policy decisions. To that end, we continued to add to the Fund’s position in shorter duration, yield-to-call securities. We believe these securities will be more defensive in the event of a weaker high yield market and/or if Treasury rates continue to sell off. With this approach, we can often achieve 80-90% of the index yield, but with a much shorter expected maturity. In addition, the dislocation in the closed-end fund marketplace at period end appeared overdone, therefore we added to a number of these securities. The use of leverage adds to these securities’ volatility; however, over longer periods we believe that same leverage can add to overall returns. We focused on closed-end funds that invest in floating rate bank loans, corporate financial debt and companies that own or hold loans to middle market companies. If the Fed’s plan of reigning in bond purchases is due to a better domestic economic outlook, then credit quality in all of these sectors should improve.

Treasury note and bond futures were also used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The effect of these activities mildly benefited performance during the period.

Nuveen Investments 13

We also utilized foreign exchange forwards to manage foreign currency exposure. For example, to reduce unwanted currency exposure from the Fund’s portfolio, the Fund would acquire a short foreign currency forward. These positions had a limited impact on performance during the period.

Nuveen Inflation Protected Securities Fund

The Fund’s Class A Shares at NAV underperformed both the Barclays U.S. TIPS Index and the Lipper Inflation-Protected Bond Funds Classification Average for the twelve-month reporting period. The Treasury inflation-protected securities (TIPS) asset class struggled during the reporting period amidst the pressure of steady investor outflows. Investors factored in rising nominal Treasury yields, poor returns for TIPS and a significant drop in the need for inflation protection after fears of Fed-induced higher inflation failed to materialize and Consumer Price Index (CPI) results continued to come in weaker-than-expected. After yields on 10-year TIPS repeatedly hit low points in the final three months of 2012, they began to climb dramatically in 2013, especially in the final three months of this reporting period. From their lows during the period, 10-year TIPS yields rose nearly 150 basis points, while prices simultaneously fell significantly. At the end of the reporting period in June, yields turned positive for 10-year TIPS for the first time since January 2012. Because the yield on a TIPS bond is equal to the corresponding Treasury bond yield minus the expected rate of inflation, it can fall into negative territory if the inflation rate is higher than the current Treasury yield. In addition, the period saw relatively significant “breakeven spread” movement, which is the difference between the yields of 10-year nominal Treasuries and 10-year TIPS. After widening out over the first nine months of the Fund’s fiscal year, the breakeven spread narrowed dramatically in the final three months, which again pointed toward investor expectations of continued benign inflation.

This market backdrop led TIPS to underperform nominal Treasury securities and also the broad fixed income market over the twelve-month reporting period. Returns were stronger away from the Treasury market as spread sectors outpaced both nominal Treasuries and TIPS by significant margins. High yield was by far the top performing spread sector during the Fund’s reporting period, followed by commercial mortgage-backed securities (CMBS), emerging market debt and investment-grade corporates. Corporate markets continued to be supported by investors’ quest for yield, strong fundamentals, a gradually improving economy and the Fed’s very accommodative monetary policy.

Over the twelve-month reporting period, our duration moves, which alter the Fund’s sensitivity to changing interest rates, were the biggest positive contributor toward performance. The Fund benefited from a number of well timed tactical shifts made throughout the period, in addition to our general bias toward a shorter duration, especially in the Fund’s TIPS portfolio. Meanwhile, the Fund’s underweight in TIPS versus the Barclays U.S. TIPS Index also aided fiscal year results, particularly in the final months as breakeven spreads narrowed and TIPS dramatically underperformed nominal Treasuries. In addition, the Fund’s small allocations in various spread sectors were beneficial, particularly its exposure to the high yield credit sector, which generated significant excess returns over both TIPS and Treasuries. Our positions in CMBS also aided results as this was the strongest area among the various securitized sectors.

The Fund’s foreign currency exposure was the primary relative detractor to performance during the period, particularly during the strong U.S. dollar rally.

While our primary investment themes remained in place throughout the period, we made smaller scaled shifts to help improve the Fund’s profile in response to changing growth and inflation forecasts. We also took advantage of the extreme market volatility at the end of the reporting period to make adjustments to the Fund’s portfolio to manage risk and position for intermediate term performance opportunities. We maintained the Fund’s underweight to TIPS versus the benchmark index; however, toward the end of the reporting period, we covered a small portion of this TIPS short after the segment’s dramatic underperformance. We believe the late period sell-off restored reasonable value to the TIPS market. At the same time, we increased the Fund’s allocations to non-TIPS spread product, specifically high yield bonds and CMBS, after those segments cheapened in June. As valuations normalized in both the high yield and CMBS sectors, we increasingly focused on adding select opportunities within both sectors. We also moved to moderate the Fund’s

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positioning for a steeper yield curve by reducing its overweight to intermediate maturities, while simultaneously reducing its underweight to longer term maturities. We continued to tactically manage interest rate exposure, with a bias toward positioning the Fund’s portfolio duration more defensively to protect against higher rates.

Treasury note and bond futures were also used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The overall effect on performance during the period was mildly positive. We also utilized interest rate swaps to manage portfolio duration and yield curve exposure, however, these positions detracted mildly from performance during the period.

We also utilized foreign exchange forwards to manage foreign currency exposure. For example, to reduce unwanted currency exposure from the Fund’s portfolio, the Fund would acquire a short foreign currency forward. These positions detracted mildly from performance during the period.

Nuveen Intermediate Government Bond Fund

The Fund’s Class A Shares at NAV underperformed both with the Barclays Intermediate Government Bond Index and outperformed the Lipper Intermediate U.S. Government Funds Classification Average for the twelve-month reporting period. The most significant factor in the Fund’s outperformance was its sector weights. Our substantial underweight to U.S. Treasuries was the main driver as all of the spread sectors outperformed for the twelve-month reporting period. At the same time, the Fund benefited from overweights in several securitized spread sectors, including commercial mortgage-backed securities (CMBS), mortgage-backed securities (MBS) sectors and asset-backed securities (ABS). Each of these securitized asset classes registered higher returns than intermediate maturity Treasuries over the twelve-month reporting period. Although the Fund’s CMBS exposure is relatively small, this asset class performed particularly strongly during the reporting period, providing significant excess returns over intermediate Treasuries, as measured by Barclays Indexes. The CMBS sector benefited from investor demand for high quality, lower risk bonds with incremental spread over government securities in the prolonged low rate environment. Also, the Fund’s exposure in the agency sector was a modest positive as we owned more intermediate term agencies, which held up better than longer maturity agencies during the reporting period.

In addition, the Fund was rewarded for our various tactical duration moves throughout the period, which we make in order to adjust the Fund’s sensitivity to interest rates. Overall during the reporting period, our strategy was centered on being defensively positioned with the Fund’s duration generally shorter than the benchmark’s duration. The shorter duration stance proved especially beneficial in the final month of the period when interest rates spiked. Our yield curve positioning, however, was basically a wash over the twelve-month reporting period. Earlier in the reporting period, we had positioned the Fund with an overweight to securities in the three- to five-year maturity range. However, we shifted to overweight five-to ten-year maturities with a corresponding underweight to the short and long end of the yield curve as we moved toward June 2013.

Our main strategic emphasis on non-government sectors remained in place throughout the period, with the Fund’s largest weights found in the MBS and agency sectors. In the latter part of the reporting period, our overweights in mortgages and callable agency securities offset some of the above-mentioned positives, and led the Fund to perform in line with its Barclays benchmark. These mortgage and callable agency securities are very interest rate sensitive and reacted even more negatively to rising rates as the market sold off. Fortunately, we had shifted more of the Fund’s portfolio into shorter maturity mortgage paper before the reporting period began, which was a mitigating force to the underperformance of mortgages in 2013, especially during the rate spike.

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Treasury note and bond futures were also used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The overall effect on performance during the period was mildly positive.

Nuveen Short Term Bond Fund

The Fund’s Class A Shares at NAV outperformed the Barclays 1-3 Year Government/Credit Bond Index and the Lipper Short Investment Grade Debt Funds Classification Average for the twelve-month reporting period. Performance during the reporting period benefited from our ongoing focus on segments of the market that generate attractive levels of income. We continued to position the Fund with an emphasis on a diversified core portfolio of short duration investment-grade corporate and securitized debt, combined with smaller allocations to non-agency/sub-prime mortgage-backed securities (MBS) and higher quality, high yield (BB-rated) corporates. At the same time, the Fund held a significant underweight to the Treasury and agency segments of the market.

Over this reporting period, our Fund’s allocation to the higher quality, high yield (BB-rated) corporates proved especially beneficial, and was the most significant driver of the Fund’s outperformance. The yield advantage of these assets helped these securities outperform, especially during the final months of the period as their higher yield levels offset the lower market prices caused by the combination of higher rates and wider spreads. Likewise, the Fund’s emphasis on securities at the lower end of the investment-grade corporate sector, A-rated and BBB-rated securities, benefited results.

In addition, other sector weights contributed to the Fund’s outperformance over the twelve-month reporting period. For the past few years, we have favored owning private sector debt and have been strong proponents of the long-term value of financial credits based on their solid investment fundamentals. We continued to believe that the U.S. housing market was in recovery mode, a view that was supported by a number of favorable housing statistics during the reporting period. Therefore, we remained constructive on select opportunities in the non-agency mortgage sector and benefited from maintaining at least a 10% weighting in this market segment. Within the Fund’s investment-grade holdings, results were aided by our significant overweight to bank/financial credits.

The Fund’s results were also rewarded for our significant exposure to other securitized sectors, with broad diversification across government agency MBS, consumer asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS). Credit fundamentals in the commercial real estate sector continued to improve over the reporting period and credit performance of consumer auto and credit card receivables remained strong, allowing these market segments to add value for shareholders.

With the extremely low level of rates at the short end of the yield curve, our interest rate strategy was geared toward being positioned shorter than the benchmark and toward the lower end of the permitted one- to three-year duration range. This defensive duration posture, which lessened the Fund’s sensitivity to interest rate changes, proved modestly beneficial especially later in the reporting period as it helped to buffer the negative impact of higher rates and wider spreads. The Fund had no meaningful detractors to performance during the twelve-month reporting period.

While our primary portfolio themes of focusing on income generation and underweighting government sectors continued to be supported by fundamentals, a deterioration in market technicals caused us to be focused on raising overall portfolio liquidity levels as rates spiked during June 2013. As the dust settled and the markets stabilized, we took the opportunity to broadly add back risk to the Fund at cheaper levels. On a sector level basis, we tactically added to the Fund’s positions in 15-year agency MBS, high yield corporates and high quality CMBS. All of these sectors cheapened dramatically during June and represented good values at period end. We also tactically brought the Fund’s duration closer in line with the benchmark as the yield on the 5-year Treasury approached 1.50% in late June. Although we have not changed our view that rates will be higher in 2014 as the year progresses, we believe the short end of the yield curve may currently be pricing in Fed tightening at too early a juncture and simply wanted to be less defensive, at least in the short run.

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Treasury note futures were also used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The overall effect on performance during the period was positive. We also utilized interest rate swaps to manage portfolio duration and yield curve exposure, however, these positions detracted mildly from performance during the period.

We also used credit default swaps to add diversified exposure to a broad segment of the credit markets, or to express a view on credit as part of an overall portfolio sector management strategy. For example, to increase the Fund’s credit exposure to the high yield bond segment of the market, a long CDX High Yield Index swap would be acquired. These swap positions mildly contributed to performance during the period.

Nuveen Strategic Income Fund

The Fund’s Class A Shares at NAV outperformed both the Barclays Aggregate Bond Index and the Lipper Multi-Sector Income Funds Classification Average for the twelve-month reporting period. The Fund experienced very strong results over the reporting period, benefiting from nearly all of its strategic investment themes. In particular, we continued to position the Fund with significant overweights to both the investment-grade and high yield credit sectors, which were key positive performance drivers. Both segments produced returns which far exceeded Treasuries as the corporate market continued to be supported by investors’ search for yield, strong fundamentals, a gradually improving economy and the Fed’s highly accommodative monetary policy. The Fund continued to benefit from the additional yield generated by securities in these sectors as well as the gains associated with narrowing risk premiums for credit. The Fund’s high yield overweight was particularly beneficial, as the segment was further bolstered by strong inflows for the majority of the period as well as the ongoing low default level. Consistent with other themes in credit, the Fund’s exposure to emerging market (EM) credit contributed modestly to its twelve-month reporting period results.

Our strong bias toward bank/financial credits within the Fund’s investment-grade portfolio also added significantly to its results. According to Barclays, the financial sub-sector of the investment-grade market was one of the top-performing areas of the overall fixed income market during the reporting period. For quite some time, we have been strong proponents of the value of financial credits based on their improving investment fundamentals. The market increasingly embraced this view during the period as financial spreads tightened versus industrials, continuing the segment’s strong relative performance. A number of our other individual credit selection themes within the industrial sectors also benefited the Fund’s returns.

The Fund’s foreign exposure contributed positively to portfolio return, particularly during the first six months of the reporting period, as we emphasized growth-sensitive, higher yielding currencies over the U.S. dollar. Currency exposure drove the outperformance, while foreign interest rates detracted marginally. During this period, the U.S. dollar and the yen declined against most currencies globally, while the euro saw a recovery from depressed levels. However, later in the period during the strong U.S. dollar rally, we gave back a portion of the gains we reaped from the Fund’s foreign currency exposure, although this was moderated by timely position reduction and through market selection.

Our duration strategy, which indicates the Fund’s sensitivity to interest rate changes, was biased to be defensively positioned with duration shorter than the benchmark. However, we also responded tactically to developing conditions in monetary policy and valuation. Our various duration moves aided performance during the twelve-month reporting period.

In regards to the securitized areas of the market, our Fund’s small position in commercial mortgage-backed securities (CMBS) contributed favorably to returns. The CMBS segment was the top-performing securitized sector over the reporting period. The sector benefited from investor demand for high quality, lower risk bonds with incremental spread over government securities. Meanwhile, the Fund remained significantly underweight to mortgage-backed securities

Nuveen Investments 17

(MBS), and the segment had little impact on its results. Although the MBS sector modestly outperformed Treasuries, other securitized areas were stronger as the Fed’s buying program pushed MBS valuations to very expensive levels.

With its strong relative performance, the Fund experienced no meaningful detractors during the reporting period.

While our primary strategic sector and duration themes remained in place during the period, we did take advantage of volatile market conditions to make adjustments to the Fund to manage risk and position for intermediate-term performance opportunities. After reducing the Fund’s exposure to investment grade in April 2013 given the segment’s strong performance, we selectively added positions at the end of the reporting period as the market cheapened significantly. Similarly, after having reduced high yield exposure, we took advantage of attractive valuations to add to credits to the Fund with attractive yield and return potential, ending the period at a higher weighting. We reduced the Fund’s foreign currency exposure toward period end, given valuation changes and fundamental developments in global interest rates and flows, while selectively adding to foreign bond exposure at higher yields. We remained significantly underweight in the agency MBS sector as we saw better return opportunities in other market segments. We also continued to actively manage interest rate exposure, remaining defensive in the Fund’s portfolio duration stance in order to protect against higher rates.

We also invested in various derivative instruments during the period. Foreign exchange forwards were used to manage foreign currency exposure and to gain exposure from selected foreign currencies, as well as in some cases to hedge the currency risk present in a foreign bond. For example, to reduce unwanted currency exposure from the Fund’s portfolio, the Fund would acquire a short foreign currency forward. The overall effect these contracts had on performance during the period was positive. We also used options on foreign currency as part of an overall portfolio currency strategy. For example, call options may be purchased to hedge the portfolio from foreign currency movements while limiting downside exposure to the portfolio. The effect of these activities mildly impacted performance during the period.

Interest rate futures were used as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure. To decrease the duration of the Fund’s portfolio, a short Treasury bond or Treasury note futures position was acquired. The overall effect on performance during the period was mildly positive. We also utilized interest rate swaps to manage portfolio duration and yield curve exposure and these positions also benefited performance during the period.

We used options on U.S. Treasury note and bond futures as part of an overall portfolio interest rate strategy. For example, call options may be purchased to hedge the portfolio against adverse interest rate movements while limiting downside exposure to the portfolio. Options may also be used to express views on volatility. For example, writing out-of-the-money calls when implied volatility is high. The effect of these activities mildly impacted performance during the period.

Credit default swaps were used to add diversified exposure to a broad segment of the credit markets, or to express a view on credit as part of an overall portfolio sector management strategy. For example, to increase the Fund’s credit exposure to the high yield bond segment of the market, a long CDX High Yield Index swap would be acquired. These positions added to performance during the period.

Risk Considerations

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Funds, are subject to market risk, credit risk, interest rate risk, call risk, derivatives risk, dollar roll transaction risk, and income risk. As interest rates rise, bond prices fall. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. Foreign investments involve additional risks, including currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. Asset-backed and mortgage-backed securities are subject to additional risks such as prepayment risk, liquidity risk, default risk and adverse economic developments.

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Below investment grade or high yield debt securities such as those held by the Nuveen Core Plus Bond Fund, the Nuveen High Income Bond Fund, the Nuveen Inflation Protected Securities Fund, the Nuveen Short Term Bond Fund and the Nuveen Strategic Income Fund are subject to liquidity risk and heightened credit risk.

Foreign investments such as those held by the Nuveen Core Plus Bond Fund, the Nuveen High Income Bond Fund, the Nuveen Inflation Protected Securities Fund, the Nuveen Short Term Bond Fund, and the Nuveen Strategic Income Fund involve additional risks, including currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These risks are magnified in emerging markets.

The Nuveen Global Total Return Bond Fund’s potential use of derivative instruments involves a high degree of financial risk and additional transaction costs.

For the Nuveen Inflation Protected Securities Fund, the guarantee provided by the U.S. government to Treasury inflation protected securities (TIPS) relates only to the prompt payment of principal and interest and does not remove the market risks of investing in the Fund’s shares. The Fund’s investment in inflation protected securities has tax consequences that may result in income distributions to shareholders.

Dividend Information

Each Fund seeks to pay dividends at a rate that reflects the past and projected performance of the Fund. To permit a Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the Fund during the period. If the Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund’s net asset value. Conversely, if the Fund has cumulatively paid in dividends more than it has earned, the excess will constitute negative UNII that will likewise be reflected in the Fund’s net asset value. Each Fund will, over time, pay all its net investment income as dividends to shareholders. As of June 30, 2013, all of the Funds had positive UNII balances for tax purposes. The Nuveen Global Total Return Bond Fund and the Nuveen Strategic Income Fund had a positive UNII balance while the remaining six Funds had a negative UNII balance for financial reporting purposes.

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Fund Performance and Expense Ratios

The Fund Performance and Expense Ratios for each Fund are shown on the following sixteen pages.

Returns quoted represent past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Returns without sales charges would be lower if the sales charge were included. Returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Returns may reflect a contractual agreement between certain Funds and the investment adviser to waive certain fees and expenses; see Notes to Financial Statements, Footnote 7 — Management Fees and Other Transactions with Affiliates for more information. In addition, returns may reflect a voluntary expense limitation by the Funds’ investment adviser that may be modified or discontinued at any time without notice. For the most recent month-end performance visit www.nuveen.com or call (800) 257-8787.

Returns reflect differences in sales charges and expenses, which are primarily differences in distribution and service fees. Fund returns assume reinvestment of dividends and capital gains.

Comparative index and Lipper return information is provided for the Funds’ Class A Shares at net asset value (NAV) only.

The expense ratios shown reflect the Funds’ total operating expenses (before fee waivers and/or expense reimbursements, if any) as shown in the Funds’ most recent prospectus. The expense ratios include management fees and other fees and expenses.

Nuveen Investments 21

Fund Performance and Expense Ratios (continued)

Nuveen Core Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		-0.38%		4.71%		3.81%
Class A Shares at maximum Offering Price		-3.37%		4.07%		3.49%
Barclays Aggregate Bond Index*		-0.69%		5.19%		4.52%
Barclay Intermediate Govt’ / Credit Bond Index*		0.28%		4.57%		4.03%
Lipper Intermediate Investment Grade Debt Funds Classification Average*		0.53%		5.43%		4.20%
Class I Shares		-0.16%		4.87%		3.97%

		Average Annual
	1-Year		Since Inception**
Class C Shares		-1.17%		1.84%

Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		0.79%		0.78%
Class C Shares		1.54%		1.53%
Class I Shares		0.54%		0.53%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse other Fund expenses through October 31, 2013 so that total annual Fund operating expenses, after fee waivers and/or expense reimbursements and excluding acquired fund fees and Expenses, do not exceed 0.78%, 1.53% and 0.53% for Class A, Class C and Class I shares, respectively. Fee waivers and/or expense reimbursements will not be terminated prior to that time without the approval of the Fund’s Board of Directors.

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

** Since inception return for Class C Shares is from 1/18/11.

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Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

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Fund Performance and Expense Ratios (continued)

Nuveen Core Plus Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		2.40%		5.70%		4.35%
Class A Shares at maximum Offering Price		-1.98%		4.79%		3.90%
Barclays Aggregate Bond Index*		-0.69%		5.19%		4.52%
Lipper Intermediate Investment Grade Debt Funds Classification Average*		0.53%		5.43%		4.20%
Class B Shares w/o CDSC		1.56%		4.92%		3.57%
Class B Shares w/CDSC		-3.36%		4.75%		3.57%
Class C Shares		1.59%		4.89%		3.57%
Class R3 Shares		2.11%		5.50%		4.16%
Class I Shares		2.52%		5.94%		4.61%

Class A Shares have a maximum 4.25% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class B Shares have a CDSC that begins at 5% for redemptions during the first year and declines periodically until after six years when the charge becomes 0%. Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		0.82%		0.77%
Class B Shares		1.56%		1.52%
Class C Shares		1.57%		1.52%
Class R3 Shares		1.06%		1.02%
Class I Shares		0.56%		0.52%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse other Fund expenses through October 31, 2013 so that total annual Fund operating expenses, after fee waivers and/or expense reimbursements and excluding acquired fund fees and Expenses, do not exceed 0.77%, 1.52%, 1.52%, 1.02% and 0.52% for Class A, Class B, Class C, Class R3 and Class I shares, respectively. Fee waivers and/or expense reimbursements will not be terminated prior to that time without the approval of the Fund’s Board of Directors.

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

24 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 25

Fund Performance and Expense Ratios (continued)

Nuveen Global Total Return Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		Since Inception*
Class A Shares at NAV		2.47%		6.27%
Class A Shares at maximum Offering Price		-2.42%		3.03%
Barclays Global Aggregate Unhedged Bond Index**		-2.18%		-0.15%
Lipper Global Income Funds Classification Average**		0.95%		3.05%
Class C Shares		1.94%		5.72%
Class R3 Shares		2.34%		6.16%
Class I Shares		2.86%		6.71%

Class A Shares have a maximum 4.75% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are only available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		1.67%		0.98%
Class C Shares		2.42%		1.72%
Class R3 Shares		1.92%		1.23%
Class I Shares		1.42%		0.73%

The Fund’s investment adviser has agreed to waive fees and/or reimburse expenses through October 31, 2014, so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, acquired fund fees and expenses, taxes, fees incurred in acquiring and disposing of portfolio securities, and extraordinary expenses) do not exceed 0.75% of the average daily net assets of any class of Fund shares. The expense limitation expiring October 31, 2014, may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund.

* Since inception returns are from 12/02/11.

** Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

26 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graph does not reflect the deduction of taxes, that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 27

Fund Performance and Expense Ratios (continued)

Nuveen High Income Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		11.99%		9.72%		7.92%
Class A Shares at maximum Offering Price		6.68%		8.66%		7.39%
Barclays High Yield 2% Issuer Capped Index*		9.49%		11.00%		8.90%
Lipper High Yield Funds Classification Average*		8.95%		8.66%		7.51%
Class B Shares w/o CDSC		11.34%		8.95%		7.15%
Class B Shares w/CDSC		6.34%		8.81%		7.15%
Class C Shares		11.33%		8.98%		7.15%
Class R3 Shares		11.79%		9.44%		7.66%
Class I Shares		12.39%		10.02%		8.20%

Class A Shares have a maximum 4.75% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class B Shares have a CDSC that begins at 5% for redemptions during the first year and declines periodically until after six years when the charge becomes 0%. Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Expense Ratios
Class A Shares		0.98%
Class B Shares		1.73%
Class C Shares		1.72%
Class R3 Shares		1.23%
Class I Shares		0.74%

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

28 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 29

Fund Performance and Expense Ratios (continued)

Nuveen Inflation Protected Securities Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		Since Inception*
Class A Shares at NAV		-5.07%		4.20%		4.58%
Class A Shares at maximum Offering Price		-9.07%		3.30%		4.07%
Barclays U.S. TIPs Index**		-4.78%		4.41%		5.11%
Lipper Inflation-Protected Bond Funds Classification Average**		-4.39%		3.50%		4.51%
Class C Shares		-5.39%		3.49%		3.83%
Class R3 Shares		-5.02%		3.84%		4.28%
Class I Shares		-4.46%		4.51%		4.87%

Class A Shares have a maximum 4.25% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Expense Ratios
Class A Shares		0.82%
Class C Shares		1.57%
Class R3 Shares		1.08%
Class I Shares		0.57%

* Since inception returns are from 10/01/04.

** Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

30 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 31

Fund Performance and Expense Ratios (continued)

Nuveen Intermediate Government Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		-0.74%		3.45%		3.28%
Class A Shares at maximum Offering Price		-3.72%		2.83%		2.96%
Barclays Intermediate Government Bond Index*		-0.59%		3.80%		3.70%
Lipper Intermediate U.S. Government Funds Classification Average*		1.67%		4.02%		3.52%
Class I Shares		-0.53%		3.64%		3.45%

		Average Annual
	1-Year		Since Inception**
Class C Shares		-1.53%		1.93%
Class R3 Shares		-1.00%		2.40%

Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		0.93%		0.85%
Class C Shares		1.68%		1.60%
Class R3 Shares		1.18%		1.10%
Class I Shares		0.68%		0.60%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse other Fund expenses through October 31, 2013, so that total annual Fund operating expenses, after fee waivers and/or expense reimbursements and excluding acquired fund fees and expenses, do not exceed 0.85%, 1.60%, 1.10% and 0.60% for Class A, Class C, Class R3 and Class I Shares, respectively. Fee waivers and/or expense reimbursements will not be terminated prior to that time without the approval of the Fund’s Board of Directors.

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

** Since inception returns for Class C and Class R3 Shares are from 10/28/09.

32 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 33

Fund Performance and Expense Ratios (continued)

Nuveen Short Term Bond Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		2.30%		3.12%		2.81%
Class A Shares at maximum Offering Price		-0.01%		2.65%		2.57%
Barclays 1-3 Year Government/Credit Bond Index*		0.74%		2.47%		2.92%
Lipper Short Investment Grade Debt Funds Classification Average*		1.31%		2.73%		2.69%
Class I Shares		2.65%		3.33%		2.99%

		Average Annual
	1-Year		Since Inception**
Class C Shares		1.61%		1.70%
Class R3 Shares		2.10%		2.83%

Class A Shares have a maximum 2.25% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		0.75%		0.72%
Class C Shares		1.50%		1.47%
Class R3 Shares		0.97%		0.97%
Class I Shares		0.50%		0.47%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse other Fund expenses through October 31, 2013 so that total annual Fund operating expenses, after fee waivers and/or expense reimbursements and excluding acquired fund fees and expenses, do not exceed 0.72%, 1.47%, 0.97% and 0.47% for Class A, Class C, Class R3 and Class I shares, respectively. Fee waivers and/or expense reimbursements will not be terminated prior to that time without the approval of the Fund’s Board of Directors.

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

** Since inception return for Class C Shares is from 10/28/09. Since inception return for Class R3 Shares is from 9/23/11.

34 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 35

Fund Performance and Expense Ratios (continued)

Nuveen Strategic Income Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.

Fund Performance

Average Annual Total Returns as of June 30, 2013

		Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		6.25%		7.89%		5.72%
Class A Shares at maximum Offering Price		1.74%		6.96%		5.26%
Barclays Aggregate Bond Index*		-0.69%		5.19%		4.52%
Lipper Multi-Sector Income Funds Classification Average*		4.85%		6.73%		5.98%
Class B Shares w/o CDSC		5.30%		7.02%		4.90%
Class B Shares w/CDSC		0.30%		6.87%		4.90%
Class C Shares		5.50%		7.07%		4.92%
Class R3 Shares		5.89%		7.53%		5.44%
Class I Shares		6.42%		8.12%		5.96%

Class A Shares have a maximum 4.25% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class B Shares have a CDSC that begins at 5% for redemptions during the first year and declines periodically until after six years when the charge becomes 0%. Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are available to only certain retirement plans. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Gross Expense Ratios		Net Expense Ratios
Class A Shares		0.91%		0.85%
Class B Shares		1.66%		1.60%
Class C Shares		1.66%		1.60%
Class R3 Shares		1.17%		1.10%
Class I Shares		0.67%		0.60%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse other Fund expenses through October 31, 2013, so that total annual Fund operating expenses, after fee waivers and/or expense reimbursements and excluding acquired fund fees and expenses, do not exceed 0.84%, 1.59%, 1.59%, 1.09% and 0.59% for Class A, Class B, Class C, Class R3 and Class I Shares, respectively. Fee waivers and/or expense reimbursements will not be terminated prior to that time without the approval of the Fund’s Board of Directors.

* Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment.

36 Nuveen Investments

Growth of an Assumed $10,000 Investment as of June 30, 2013 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

Nuveen Investments 37

Yields as of June 30, 2013

Dividend Yield is the most recent dividend per share (annualized) divided by the offering price per share.

The SEC 30-Day Yield is a standardized measure of a Fund’s yield that accounts for the future amortization of premiums or discounts of bonds held in the Fund’s portfolio. The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. Dividend Yield may differ from the SEC 30-Day Yield because the Fund may be paying out more or less than it is earning and it may not include the effect of amortization of bond premium.

Nuveen Core Bond Fund (formerly Nuveen Intermediate Term Bond Fund)

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		1.90%		1.90%
Class C Shares		1.13%		1.11%
Class I Shares		2.20%		2.21%

Nuveen Core Plus Bond Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		3.51%		3.51%
Class B Shares		2.91%		2.91%
Class C Shares		2.89%		2.91%
Class R3 Shares		3.44%		3.42%
Class I Shares		3.99%		3.93%

Nuveen Global Total Return Bond Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		3.37%		2.75%
Class C Shares		2.71%		2.13%
Class R3 Shares		3.24%		2.65%
Class I Shares		3.78%		3.12%

Nuveen High Income Bond Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		6.55%		6.65%
Class B Shares		6.10%		6.22%
Class C Shares		6.15%		6.22%
Class R3 Shares		6.67%		6.74%
Class I Shares		7.13%		7.26%

Nuveen Inflation Protected Securities Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		1.04%		-0.93%
Class C Shares		0.27%		-1.73%
Class R3 Shares		0.81%		-1.16%
Class I Shares		1.35%		-0.67%

(1) The SEC Yield for Class A Shares quoted in the table reflects the maximum sales load. Investors paying a reduced load because of volume discounts, investors paying no load because they qualify for one of the several exclusions from the load, and existing shareholders who previously paid a load but would like to know the SEC Yield applicable to their shares on a going-forward basis, should understand that the SEC Yield effectively applicable to them would be higher than the figure quoted in the table.

38 Nuveen Investments

Nuveen Intermediate Government Bond Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		1.59%		1.54%
Class C Shares		0.82%		0.84%
Class R3 Shares		1.37%		1.36%
Class I Shares		1.84%		1.85%

Nuveen Short Term Bond Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		1.82%		1.51%
Class C Shares		1.08%		0.79%
Class R3 Shares		1.56%		1.27%
Class I Shares		2.10%		1.77%

Nuveen Strategic Income Fund

	Dividend Yield		SEC 30-Day Yield
Class A Shares(1)		4.64%		4.65%
Class B Shares		4.05%		4.11%
Class C Shares		4.06%		4.10%
Class R3 Shares		4.62%		4.62%
Class I Shares		5.12%		5.12%

(1) The SEC Yield for Class A Shares quoted in the table reflects the maximum sales load. Investors paying a reduced load because of volume discounts, investors paying no load because they qualify for one of the several exclusions from the load, and existing shareholders who previously paid a load but would like to know the SEC Yield applicable to their shares on a going-forward basis, should understand that the SEC Yield effectively applicable to them would be higher than the figure quoted in the table.

Nuveen Investments 39

Holding Summariesas of June 30, 2013

This data relates to the securities held in each Fund’s portfolio of investments. It should not be construed as a measure of performance for the Fund itself.

Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.

Nuveen Core Bond Fund

Portfolio Credit Quality1
AAA/U.S. Guaranteed	56.5%
AA	5.3%
A	19.4%
BBB	17.5%
BB or Lower	0.9%
N/R	0.4%

Nuveen Core Plus Bond Fund

Portfolio Credit Quality1
AAA/U.S. Guaranteed	35.4%
AA	3.6%
A	19.0%
BBB	28.1%
BB or Lower	13.1%
N/R	0.8%

Portfolio Allocation2
Asset-Backed and Mortgage-Backed Securities	46.9%
Corporate Bonds	36.0%
U.S. Government and Agency Obligations	8.8%
Short-Term Investments	5.4%
Municipal Bonds	1.3%
$1,000 Par (or similar) Institutional Structures	1.3%
Sovereign Debt	0.3%

Portfolio Allocation2
Corporate Bonds	50.3%
Asset-Backed and Mortgage-Backed Securities	35.3%
U.S. Government and Agency Obligations	5.3%
$1,000 Par (or similar) Institutional Structures	3.9%
$25 Par (or similar) Retail Structures	2.4%
Short-Term Investments	1.8%
Municipal Bonds	0.9%
Sovereign Debt	0.1%

Corporate Debt: Industries3
Diversified Financial Services	13.1%
Oil, Gas & Consumable Fuels	10.0%
Metals & Mining	10.0%
Commercial Banks	9.1%
Media	8.8%
Insurance	7.5%
Capital Markets	5.6%
Health Care Providers & Services	3.5%
Energy Equipment & Services	3.2%
Diversified Telecommunication Services	3.0%
Pharmaceuticals	2.6%
Wireless Telecommunication Services	2.5%
Electric Utilities	2.1%
Other	19.0%

Corporate Debt: Industries3
Oil, Gas & Consumable Fuels	11.5%
Diversified Financial Services	10.0%
Media	9.9%
Metals & Mining	9.7%
Capital Markets	7.8%
Insurance	6.1%
Commercial Banks	5.7%
Energy Equipment & Services	4.7%
Diversified Telecommunication Services	3.9%
Chemicals	2.2%
Paper & Forest Products	2.2%
Computers & Peripherals	2.2%
Tobacco	2.0%
Consumer Finance	2.0%
Real Estate Investment Trust	2.0%
Other	18.1%

1 As a percentage of total investments (excluding short-term investments, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

2 As a percentage of total investments (excluding investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

3 As a percentage of total corporate debt holdings. Corporate debt holdings include corporate bonds (high-yield and investment grade rated), convertible bonds, and any other debt instruments issued by a corporation (or that references a corporation) held by the Fund. Holdings are subject to change.

40 Nuveen Investments

Nuveen Global Total Return Bond Fund

Portfolio Credit Quality1
AAA/U.S. Guaranteed	16.7%
AA	5.0%
A	26.2%
BBB	29.3%
BB or Lower	22.6%
N/R	0.2%

Nuveen High Income Bond Fund

Portfolio Credit Quality5
AAA/U.S. Guaranteed	0.2%
AA	—%	7
BBB	4.8%
BB or Lower	85.8%
N/R	9.2%

Portfolio Allocation2
Corporate Bonds	36.6%
Sovereign Debt	35.7%
Short-Term Investments	13.6%
Asset-Backed and Mortgage-Backed Securities	9.6%
$1,000 Par (or similar) Institutional Structures	2.9%
$25 Par (or similar) Retail Structures	1.5%
Convertible Bonds	0.1%

Country Allocation2
United States	35.7%
Mexico	10.1%
United Kingdom	5.9%
Turkey	5.8%
Russia	2.6%
South Africa	2.5%
Canada	2.4%
Norway	2.1%
Short-Term Investments4	13.6%
Other	19.3%

Portfolio Allocation6
Corporate Bonds	80.9%
$25 Par (or similar) Retail Structures	6.6%
$1,000 Par (or similar) Institutional Structures	6.0%
Short-Term Investments	1.9%
Investment Companies	1.5%
Common Stocks	1.3%
Convertible Bonds	0.7%
Sovereign Debt	0.5%
Variable Rate Senior Loan Interests	0.3%
Convertible Preferred Securities	0.2%
U.S. Government and Agency Obligations	0.1%
Asset-Backed and Mortgage-Backed Securities	—%	7
Warrants	—%	7

Corporate Debt: Industries3
Oil, Gas & Consumable Fuels	20.7%
Diversified Financial Services	10.1%
Metals & Mining	9.9%
Capital Markets	7.9%
Media	6.4%
Diversified Telecommunication Services	3.4%
Chemicals	2.9%
Energy Equipment & Services	2.8%
Construction & Engineering	2.7%
Health Care Providers & Services	2.6%
Insurance	2.6%
Consumer Finance	2.1%
Machinery	1.9%
Wireless Telecommunication Services	1.9%
Containers & Packaging	1.8%
Auto Components	1.7%
Other	18.6%

Corporate Debt: Industries3
Oil, Gas & Consumable Fuels	19.3%
Metals & Mining	7.8%
Media	5.2%
Diversified Telecommunication Services	3.5%
Energy Equipment & Services	3.3%
Commercial Services & Supplies	3.3%
Chemicals	3.2%
Food Products	3.1%
Diversified Financial Services	3.1%
Hotels, Restaurants & Leisure	3.0%
Health Care Providers & Services	2.6%
Wireless Telecommunication Services	2.5%
Commercial Banks	2.3%
Communications Equipment	2.1%
Electric Utilities	2.0%
Machinery	2.0%
Containers & Packaging	1.9%
Real Estate Management & Development	1.9%
Paper & Forest Products	1.8%
Independent Power Producers & Energy Traders	1.6%
Auto Components	1.5%
Pharmaceuticals	1.4%
IT Services	1.4%
Automobiles	1.3%
Other	18.9%

1 As a percentage of total investments (excluding short-term investments and investments in derivatives). Holdings are subject to change.

2 As a percentage of total investments (excluding investments in derivatives). Holdings are subject to change.

3 As a percentage of total corporate debt holdings. Corporate debt holdings include corporate bonds (high-yield and investment grade rated), convertible bonds, and any other debt instruments issued by a corporation (or that references a corporation) held by the Fund. Holdings are subject to change.

4 Denominated in U.S. Dollars.

5 As a percentage of total investments (excluding common stocks, investment companies, warrants, short-term investments, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

6 As a percentage of total investments (excluding investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

7 Rounds to less than 0.1%.

Nuveen Investments 41

Holding Summaries(continued)as of June 30, 2013

Nuveen Inflation Protected Securities Fund

Portfolio Credit Quality1
AAA/U.S. Guaranteed	89.3%
AA	2.3%
A	2.7%
BBB	1.4%
BB or Lower	4.3%

Nuveen Intermediate Government Bond Fund

Portfolio Credit Quality4
AAA/U.S. Guaranteed	93.7%
AA	4.4%
A	1.2%
BB or Lower	0.7%

Portfolio Allocation2
U.S. Government and Agency Obligations	84.8%
Asset-Backed and Mortgage-Backed Securities	7.6%
Corporate Bonds	5.6%
Municipal Bonds	0.8%
Sovereign Debt	0.6%
Investment Companies	0.3%
$1,000 Par (or similar) Institutional Structures	0.2%
$25 Par (or similar) Retail Structures	0.1%

Portfolio Allocation2
Asset-Backed and Mortgage-Backed Securities	56.8%
U.S. Government and Agency Obligations	36.7%
Municipal Bonds	3.2%
Short-Term Investments	2.7%
Corporate Bonds	0.6%

Corporate Debt: Industries3
Oil, Gas & Consumable Fuels	19.3%
Health Care Providers & Services	17.5%
Metals & Mining	7.9%
Wireless Telecommunication Services	5.5%
Commercial Services & Supplies	4.7%
Independent Power Producers & Energy Traders	3.5%
Media	3.2%
Auto Components	3.1%
Chemicals	2.9%
Automobiles	2.9%
Electric Utilities	2.8%
Containers & Packaging	2.5%
Pharmaceuticals	2.4%
Diversified Financial Services	2.4%
Other	19.4%

Corporate Debt: Industries3
Health Care Providers & Services	100.0%

1 As a percentage of total investments (excluding investment companies, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

2 As a percentage of total investments (excluding investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

3 As a percentage of total corporate debt holdings. Corporate debt holdings include corporate bonds (high-yield and investment grade rated), convertible bonds, and any other debt instruments issued by a corporation (or that references a corporation) held by the Fund. Holdings are subject to change.

4 As a percentage of total investments (excluding short-term investments, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

42 Nuveen Investments

Nuveen Short Term Bond Fund

Portfolio Credit Quality1
AAA/U.S. Guaranteed	39.9%
AA	7.3%
A	23.8%
BBB	17.5%
BB or Lower	9.1%
N/R	2.4%

Nuveen Strategic Income Fund

Portfolio Credit Quality4
AAA/U.S. Guaranteed	6.1%
AA	2.6%
A	18.8%
BBB	34.6%
BB or Lower	36.2%
N/R	1.7%

Portfolio Allocation2
Asset-Backed and Mortgage-Backed Securities	44.9%
Corporate Bonds	44.3%
Short-Term Investments	3.4%
Municipal Bonds	3.3%
U.S. Government and Agency Obligations	3.3%
Sovereign Debt	0.4%
Convertible Bonds	0.2%
Structured Notes	0.2%

Portfolio Allocation2
Corporate Bonds	69.5%
Asset-Backed and Mortgage-Backed Securities	11.1%
Sovereign Debt	8.7%
$1,000 Par (or similar) Institutional Structures	6.4%
$25 Par (or similar) Retail Structures	3.1%
Municipal Bonds	0.7%
Investment Companies	0.2%
Short-Term Investments	0.1%
Convertible Bonds	0.1%
Structured Notes	0.1%
Common Stocks	—%	5

Corporate Debt: Industries3
Diversified Financial Services	12.3%
Commercial Banks	10.8%
Oil, Gas & Consumable Fuels	8.8%
Capital Markets	6.1%
Insurance	4.9%
Metals & Mining	4.8%
Media	4.3%
Health Care Providers & Services	3.6%
Real Estate Investment Trust	3.5%
Energy Equipment & Services	2.8%
Automobiles	2.7%
Beverages	2.7%
Chemicals	2.6%
Consumer Finance	2.4%
Pharmaceuticals	2.4%
Diversified Telecommunication Services	2.2%
Airlines	2.0%
Food Products	1.8%
Other	19.3%

Corporate Debt: Industries3
Oil, Gas & Consumable Fuels	13.7%
Metals & Mining	8.8%
Diversified Financial Services	8.8%
Capital Markets	6.9%
Media	6.5%
Commercial Banks	4.4%
Chemicals	4.0%
Energy Equipment & Services	3.4%
Insurance	3.1%
Diversified Telecommunication Services	3.0%
Commercial Services & Supplies	2.6%
Tobacco	2.4%
Wireless Telecommunication Services	2.4%
Electric Utilities	2.3%
Paper & Forest Products	1.8%
Consumer Finance	1.6%
Food Products	1.6%
Real Estate Investment Trust	1.6%
Real Estate Management & Development	1.5%
Other	19.6%

1 As a percentage of total investments (excluding short-term investments, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

2 As a percentage of total investments (excluding investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

3 As a percentage of total corporate debt holdings. Corporate debt holdings include corporate bonds (high-yield and investment grade rated), convertible bonds, and any other debt instruments issued by a corporation (or that references a corporation) held by the Fund. Holdings are subject to change.

4 As a percentage of total investments (excluding common stock, investment companies, short-term investments, investments in derivatives and investments purchased with collateral from securities lending). Holdings are subject to change.

5 Rounds to less than 0.1%.

Nuveen Investments 43

Expense Examples

As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including up-front and back-end sales charges (loads) or redemption fees, where applicable; and (2) ongoing costs, including management fees; distribution and service (12b-1) fees, where applicable; and other Fund expenses. The Examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The Examples below are based on an investment of $1,000 invested at the beginning of the period and held through the period.

The information under “Actual Performance,” together with the amount you invested, allows you to estimate actual expenses incurred over the reporting period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.60) and multiply the result by the cost shown for your share class, in the row entitled “Expenses Incurred During Period” to estimate the expenses incurred on your account during this period.

The information under “Hypothetical Performance,” provides information about hypothetical account values and hypothetical expenses based on the respective Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expense you incurred for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds or share classes. In addition, if these transaction costs were included, your costs would have been higher.

Nuveen Core Bond Fund

							Hypothetical Performance
	Actual Performance						(5% annualized return before expenses)
	A Shares		C Shares		I Shares		A Shares		C Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	967.10	$	962.10	$	967.20	$	1,020.93	$	1,017.21	$	1,022.17
Expenses Incurred During Period	$	3.80	$	7.44	$	2.59	$	3.91	$	7.65	$	2.66

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .78%, 1.53% and .53% for classes A, C and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Core Plus Bond Fund

											Hypothetical Performance
	Actual Performance										(5% annualized return before expenses)
	A Shares		B Shares		C Shares		R3 Shares		I Shares		A Shares		B Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	977.00	$	973.00	$	972.50	$	975.30	$	977.60	$	1,020.98	$	1,017.26	$	1,017.26	$	1,019.74	$	1,022.22
Expenses Incurred During Period	$	3.77	$	7.44	$	7.43	$	5.00	$	2.55	$	3.86	$	7.60	$	7.60	$	5.11	$	2.61

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .77%, 1.52%, 1.52%, 1.02% and .52% for Classes A, B, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Global Total Return Bond Fund

	Actual Performance								Hypothetical Performance (5% annualized return before expenses)
	A Shares		C Shares		R3 Shares		I Shares		A Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	937.00	$	934.00	$	935.80	$	938.40	$	1,019.93	$	1,016.22	$	1,018.65	$	1,021.12
Expenses Incurred During Period	$	4.71	$	8.30	$	5.95	$	3.56	$	4.91	$	8.65	$	6.21	$	3.71

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .98%, 1.73%, 1.24% and .74% for Classes A, C, R3, and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

44 Nuveen Investments

Nuveen High Income Bond Fund

											Hypothetical Performance
	Actual Performance										(5% annualized return before expenses)
	A Shares		B Shares		C Shares		R3 Shares		I Shares		A Shares		B Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	1,023.70	$	1,019.80	$	1,020.10	$	1,021.80	$	1,024.90	$	1,020.13	$	1,016.41	$	1,016.41	$	1,018.89	$	1,021.37
Expenses Incurred During Period	$	4.72	$	8.46	$	8.46	$	5.97	$	3.46	$	4.71	$	8.45	$	8.45	$	5.96	$	3.46

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .94%, 1.69%, 1.69%, 1.19% and .69% for Classes A, B, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Inflation Protected Securities Fund

									Hypothetical Performance
	Actual Performance								(5% annualized return before expenses)
	A Shares		C Shares		R3 Shares		I Shares		A Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	927.30	$	925.90	$	928.10	$	930.60	$	1,020.73	$	1,017.01	$	1,019.49	$	1,021.97
Expenses Incurred During Period	$	3.92	$	7.50	$	5.12	$	2.73	$	4.11	$	7.85	$	5.36	$	2.86

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .82%, 1.57%, 1.07% and .57% for Classes A, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Intermediate Government Bond Fund

									Hypothetical Performance
	Actual Performance								(5% annualized return before expenses)
	A Shares		C Shares		R3 Shares		I Shares		A Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	985.10	$	981.20	$	983.80	$	987.20	$	1,020.58	$	1,016.86	$	1,019.34	$	1,021.82
Expenses Incurred During Period	$	4.18	$	7.86	$	5.41	$	2.96	$	4.26	$	8.00	$	5.51	$	3.01

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .85%, 1.60%, 1.10% and .60% for Classes A, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Short Term Bond Fund

									Hypothetical Performance
	Actual Performance								(5% annualized return before expenses)
	A Shares		C Shares		R3 Shares		I Shares		A Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	1,000.90	$	998.00	$	1,000.40	$	1,003.10	$	1,021.27	$	1,017.55	$	1,020.03	$	1,022.51
Expenses Incurred During Period	$	3.52	$	7.23	$	4.76	$	2.28	$	3.56	$	7.30	$	4.81	$	2.31

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .71%, 1.46%, .96% and .46% for Classes A, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Strategic Income Fund

											Hypothetical Performance
	Actual Performance										(5% annualized return before expenses)
	A Shares		B Shares		C Shares		R3 Shares		I Shares		A Shares		B Shares		C Shares		R3 Shares		I Shares
Beginning Account Value (1/01/13)	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value (6/30/13)	$	981.70	$	977.00	$	977.90	$	980.80	$	982.10	$	1,020.58	$	1,016.81	$	1,016.86	$	1,019.34	$	1,021.82
Expenses Incurred During Period	$	4.18	$	7.89	$	7.85	$	5.40	$	2.95	$	4.26	$	8.05	$	8.00	$	5.51	$	3.01

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .85%, 1.61%, 1.60%, 1.10% and .60% for Classes A, B, C, R3 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Nuveen Investments 45

Report of Independent Registered Public Accounting Firm

To the Board of Directors/Trustees and Shareholders of

Nuveen Investment Funds, Inc. and Nuveen Investment Trust:

In our opinion, the accompanying statements of assets and liabilities, including the portfolios of investments, and the related statements of operations, of changes in net assets, and the financial highlights present fairly, in all material respects, the financial position of Nuveen Core Bond Fund (formerly Nuveen Intermediate Term Bond Fund), Nuveen Core Plus Bond Fund, Nuveen High Income Bond Fund, Nuveen Inflation Protected Securities Fund, Nuveen Intermediate Government Bond Fund, Nuveen Short Term Bond Fund, and Nuveen Strategic Income Fund (each a series of the Nuveen Investment Funds, Inc.) and Nuveen Global Total Return Bond Fund (a series of Nuveen Investment Trust) (hereinafter collectively referred to as the “Funds”) at June 30, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at June 30, 2013 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion. The financial statements of Nuveen Core Bond Fund (formerly Nuveen Intermediate Term Bond Fund), Nuveen Core Plus Bond Fund, Nuveen High Income Bond Fund, Nuveen Inflation Protected Securities Fund, Nuveen Intermediate Government Bond Fund, Nuveen Short Term Bond Fund, and Nuveen Strategic Income Fund for the periods ended June 30, 2011 and prior were audited by other independent auditors whose report dated August 26, 2011 expressed an unqualified opinion on those statements.

PRICEWATERHOUSECOOPERS LLP

Chicago, IL

August 27, 2013

46 Nuveen Investments

Portfolio of Investments

Nuveen Core Bond Fund

(formerly Nuveen Intermediate Term Bond Fund)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CORPORATE BONDS – 37.3%
		Beverages – 0.3%
$	1,725	Anheuser Busch InBev		2.500%		7/15/22		A	$	1,610,457
		Capital Markets – 2.1%
	3,125	Goldman Sachs Group, Inc.		6.000%		6/15/20		A		3,511,322
	1,605	Goldman Sachs Group, Inc.		5.250%		7/27/21		A		1,717,188
	1,090	Goldman Sachs Group, Inc., (3)		6.750%		10/01/37		A–		1,116,557
	2,250	Morgan Stanley		6.625%		4/01/18		A		2,550,274
	1,500	Morgan Stanley		4.875%		11/01/22		BBB+		1,481,852
	9,570	Total Capital Markets								10,377,193
		Commercial Banks – 3.4%
	2,000	Australia and New Zealand Banking Group Limited, 144A, (3)		2.400%		11/23/16		Aaa		2,069,800
	1,245	Banco Bradesco S.A. Grand Cayman, 144A, (3)		4.125%		5/16/16		Baa1		1,282,350
	1,910	Bancolombia SA		5.950%		6/03/21		Baa2		2,029,375
	1,500	Bank of Nova Scotia		1.375%		12/18/17		Aa2		1,456,275
	925	BBVA Bancomer SA Texas, 144A, (3)		4.500%		3/10/16		A2		959,688
	1,160	ING Bank NV, 144A		3.750%		3/07/17		A+		1,214,102
	1,515	Rabobank Nederland, (3)		3.875%		2/08/22		Aa2		1,525,634
	1,000	Royal Bank of Scotland Group PLC		6.400%		10/21/19		A		1,111,092
	1,460	Sovereign Bank		8.750%		5/30/18		Baa2		1,765,289
	3,595	Stadshypotek AB, 144A		1.875%		10/02/19		Aaa		3,437,899
	16,310	Total Commercial Banks								16,851,504
		Commercial Services & Supplies – 0.2%
	1,195	R.R. Donnelley & Sons Company, (3)		7.625%		6/15/20		BB		1,212,925
		Communications Equipment – 0.6%
	2,640	Motorola, Inc., (3)		6.000%		11/15/17		BBB		2,992,686
		Computers & Peripherals – 0.3%
	1,550	Apple Inc., 144A		3.850%		5/04/43		AA+		1,376,760
		Construction & Engineering – 0.6%
	3,000	ABB Finance USA Inc.		2.875%		5/08/22		A		2,874,183
		Diversified Financial Services – 4.9%
	2,500	Bank of America Corporation		5.750%		12/01/17		A		2,778,438
	3,270	Bank of America Corporation		5.875%		1/05/21		A		3,680,339
	2,090	Citigroup Inc.		6.125%		11/21/17		A		2,375,387
	2,000	Citigroup Inc.		4.500%		1/14/22		A		2,083,658
	2,720	General Electric Capital Corporation		5.625%		5/01/18		AA+		3,119,851
	1,530	General Electric Capital Corporation		5.300%		2/11/21		AA		1,678,366
	1,110	General Electric Capital Corporation		6.875%		1/10/39		AA+		1,367,965
	1,900	JPMorgan Chase & Company		4.500%		1/24/22		A+		1,989,532
	3,065	JPMorgan Chase & Company, (3)		3.200%		1/25/23		A+		2,909,626
	1,240	JPMorgan Chase & Company, (3)		3.375%		5/01/23		A		1,154,638
	1,000	JPMorgan Chase & Company		6.400%		5/15/38		A+		1,172,995
	22,425	Total Diversified Financial Services								24,310,795
		Diversified Telecommunication Services – 1.1%
	2,250	AT&T, Inc.		5.550%		8/15/41		A		2,342,711

Nuveen Investments 47

Portfolio of Investments

Nuveen Core Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Diversified Telecommunication Services (continued)
$	2,438	Verizon Communications		8.750%		11/01/18		A	$	3,177,543
	4,688	Total Diversified Telecommunication Services								5,520,254
		Electric Utilities – 0.8%
	1,615	Exelon Generation Co. LLC, (3)		4.250%		6/15/22		BBB+		1,615,179
	2,100	Ohio Power Company		6.000%		6/01/16		A–		2,365,325
	3,715	Total Electric Utilities								3,980,504
		Energy Equipment & Services – 1.2%
	1,000	Diamond Offshore Drilling Inc.		5.700%		10/15/39		A–		1,173,996
	2,765	Ensco PLC		4.700%		3/15/21		BBB+		2,935,664
	1,735	Nabors Industries Inc., (3)		5.000%		9/15/20		BBB		1,768,675
	5,500	Total Energy Equipment & Services								5,878,335
		Food Products – 0.3%
	1,225	Kraft Foods Inc.		6.500%		8/11/17		Baa2		1,424,246
		Health Care Providers & Services – 1.3%
	2,965	Mayo Clinic Rochester		3.774%		11/15/43		AA		2,627,390
	2,250	UnitedHealth Group Incorporated, (3)		3.875%		10/15/20		A		2,364,590
	1,600	Wellpoint Inc.		4.650%		1/15/43		A–		1,491,339
	6,815	Total Health Care Providers & Services								6,483,319
		Independent Power Producers & Energy Traders – 0.3%
	1,560	Constellation Energy Group		5.150%		12/01/20		BBB+		1,710,885
		Insurance – 2.8%
	1,000	AFLAC Insurance, (3)		6.450%		8/15/40		A–		1,174,529
	1,500	American International Group, Inc.		8.250%		8/15/18		A–		1,860,215
	2,000	Berkshire Hathaway Inc.		2.200%		8/15/16		AA		2,065,076
	2,305	Hartford Financial Services Group Inc.		6.000%		1/15/19		BBB		2,598,420
	1,370	Lincoln National Corporation		4.200%		3/15/22		A–		1,392,091
	3,825	Prudential Covered Trust, 144A		2.997%		9/30/15		A		3,947,094
	1,000	Swiss Re Treasury US Corporation, 144A		4.250%		12/06/42		AA–		879,867
	13,000	Total Insurance								13,917,292
		IT Services – 0.3%
	1,750	Computer Sciences Corporation		4.450%		9/15/22		BBB		1,728,029
		Leisure Equipment & Products – 0.5%
	2,855	Hyatt Hotels Corporation, (3)		3.375%		7/15/23		BBB		2,661,585
		Media – 3.3%
	1,845	British Sky Broadcasting Group PLC		6.100%		2/15/18		BBB+		2,114,411
	2,125	CBS Corporation		4.850%		7/01/42		BBB		1,964,361
	1,640	DIRECTV Holdings LLC		5.200%		3/15/20		BBB		1,770,746
	1,460	Discovery Communications Inc., (3)		5.050%		6/01/20		BBB		1,619,723
	1,460	NBC Universal Media LLC		6.400%		4/30/40		A–		1,746,036
	2,420	News America Holdings Inc.		6.650%		11/15/37		BBB+		2,784,805
	2,500	Time Warner Cable Inc., (3)		5.875%		11/15/40		BBB		2,290,130
	2,075	Vivendi SA, 144A		4.750%		4/12/22		BBB		2,075,353
	15,525	Total Media								16,365,565
		Metals & Mining – 3.7%
	2,965	Alcoa Inc., (3)		5.400%		4/15/21		BBB–		2,886,170

48 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Metals & Mining (continued)
$	1,805	Anglogold Holdings PLC		6.500%		4/15/40		Baa2	$	1,492,870
	2,000	ArcelorMittal, (3)		6.750%		2/25/22		BB+		2,050,000
	3,000	BHP Billiton Finance Limited		3.250%		11/21/21		A+		2,933,403
	1,230	Freeport McMoRan Copper & Gold, Inc., (3)		3.550%		3/01/22		BBB		1,117,279
	2,625	Newmont Mining Corporation, (3)		3.500%		3/15/22		BBB+		2,246,304
	3,000	Rio Tinto Finance USA PLC, (3)		2.875%		8/21/22		A–		2,750,694
	1,250	Teck Resources Limited		6.250%		7/15/41		BBB		1,184,208
	1,940	Vale Overseas Limited		4.625%		9/15/20		A–		1,916,132
	19,815	Total Metals & Mining								18,577,060
		Oil, Gas & Consumable Fuels – 3.7%
	1,385	Anadarko Petroleum Corporation		6.375%		9/15/17		BBB–		1,592,722
	2,825	Apache Corporation, (3)		4.250%		1/15/44		A–		2,520,485
	1,820	Cenovus Energy Inc., (3)		4.450%		9/15/42		BBB+		1,631,817
	935	Chevron Corporation		2.427%		6/24/20		AA		929,671
	2,500	EOG Resources Inc.		4.100%		2/01/21		A–		2,655,785
	1,685	Marathon Petroleum Corporation		6.500%		3/01/41		BBB		1,924,405
	2,385	Petrobras International Finance Company		5.375%		1/27/21		A3		2,396,195
	2,000	Rowan Companies Inc.		4.875%		6/01/22		BBB–		2,063,714
	1,455	Southwestern Energy Company, (3)		4.100%		3/15/22		BBB–		1,448,794
	1,275	SunCor Energy Inc.		6.100%		6/01/18		BBB+		1,486,331
	18,265	Total Oil, Gas & Consumable Fuels								18,649,919
		Paper & Forest Products – 0.4%
	2,000	Celulosa Arauco Y Constitucion		5.625%		4/20/15		BBB		2,090,298
		Pharmaceuticals – 1.0%
	1,100	AbbVie Inc., 144A		2.900%		11/06/22		A+		1,028,655
	1,830	Merck & Company Inc.		2.250%		1/15/16		AA		1,890,604
	2,020	Zoetis Incorporated, 144A		3.250%		2/01/23		Baa2		1,919,236
	4,950	Total Pharmaceuticals								4,838,495
		Road & Rail – 0.7%
	1,785	Burlington Northern Santa Fe Corporation		4.375%		9/01/42		A3		1,633,275
	1,500	Union Pacific Corporation		5.750%		11/15/17		A–		1,731,827
	3,285	Total Road & Rail								3,365,102
		Semiconductors & Equipment – 0.5%
	1,040	Applied Materials Inc., (3)		4.300%		6/15/21		A–		1,092,258
	1,250	Intel Corporation		4.800%		10/01/41		A+		1,242,823
	2,290	Total Semiconductors & Equipment								2,335,081
		Specialty Retail – 0.3%
	1,750	Staples Inc., (3)		4.375%		1/12/23		BBB		1,696,485
		Thrifts & Mortgage Finance – 0.4%
	1,780	WEA Finance LLC, 144A		4.625%		5/10/21		A2		1,877,800
		Tobacco – 0.7%
	1,895	Lorillard Tobacco, (3)		6.875%		5/01/20		Baa2		2,177,512
	1,215	Reynolds American Inc.		3.250%		11/01/22		Baa2		1,129,460
	3,110	Total Tobacco								3,306,972

Nuveen Investments 49

Portfolio of Investments

Nuveen Core Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Transportation Infrastructure – 0.7%
$	2,450	Asciano Finance Limited, 144A		5.000%		4/07/18		Baa2	$	2,602,833
	1,000	Sydney Airport Finance Company Party Limited, 144A		3.900%		3/22/23		BBB		943,458
	3,450	Total Transportation Infrastructure								3,546,291
		Wireless Telecommunication Services – 0.9%
	2,405	American Tower Company		5.050%		9/01/20		BBB		2,527,397
	2,200	Vodafone Group PLC		1.500%		2/19/18		A–		2,106,017
	4,605	Total Wireless Telecommunication Services								4,633,414
$	180,348	Total Corporate Bonds (cost $186,128,790)								186,193,434
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 1.3%
		Capital Markets – 0.2%
$	1,165	Goldman Sachs Capital II		4.000%		N/A (4)		BB+	$	926,175
		Commercial Banks – 0.4%
	2,220	Wachovia Capital Trust III		5.570%		N/A (4)		BBB+		2,178,375
		Insurance – 0.7%
	1,650	Catlin Insurance Company Limited		7.249%		N/A (4)		BBB+		1,687,125
	1,530	ZFS Finance USA Trust V		6.500%		5/09/37		A		1,629,450
	3,180	Total Insurance								3,316,575
$	6,565	Total $1,000 (Par or Similar) Institutional Structures (cost $5,979,225)								6,421,125
Principal Amount (000)		Description (1)			Optional Call Provisions (5)		Ratings (2)		Value
		MUNICIPAL BONDS – 1.3%
		Illinois – 0.8%
$	3,735	Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19				No Opt. Call		A–	$	4,121,759
		Nevada – 0.5%
	2,500	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Taxable Series 2011B, 3.176%, 6/01/17				No Opt. Call		AA+		2,600,400
$	6,235	Total Municipal Bonds (cost $6,235,000)								6,722,159
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 9.1%
$	3,500	Fannie Mae Notes		0.750%		12/19/14		Aaa	$	3,521,252
	3,160	Fannie Mae Notes		1.250%		9/28/16		Aaa		3,196,125
	4,595	Federal National Mortgage Association		2.375%		7/28/15		Aaa		4,776,594
	520	Freddie Mac Reference Notes		2.000%		8/25/16		Aaa		538,715
	11,100	Freddie Mac Reference Notes, (3)		5.000%		2/16/17		Aaa		12,637,017
	2,055	Freddie Mac Reference Notes		5.000%		12/14/18		Aa2		2,360,402
	60	Freddie Mac Reference Notes		1.750%		5/30/19		Aaa		59,067
	180	U.S. Treasury Bonds		3.125%		2/15/42		Aaa		168,525
	100	U.S. Treasury Notes		4.250%		11/15/13		Aaa		101,535
	16,685	U.S. Treasury Notes		0.250%		2/28/14		Aaa		16,697,381

50 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
$	1,375	U.S. Treasury Notes		2.375%		2/28/15		Aaa	$	1,422,534
$	43,330	Total U.S. Government and Agency Obligations (cost $45,187,261)								45,479,147
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 48.6%
$	1,753	321 Henderson Receivables LLC, Series 2010-3A		3.820%		12/15/48		Aaa	$	1,834,444
	1,449	Ally Auto Receivables Trust 2011-3		0.970%		8/17/15		Aaa		1,451,697
	4,415	AmeriCold LLC Trust, Series 2010		2.500%		1/17/29		AAA		4,366,042
	1	Amresco Residential Securities Corporation, Mortgage Loan Pass-Through Certificates, Series 1997-3		6.960%		3/25/27		Baa2		934
	4,340	Cabela’s Master Credit Card Trust, Series 2010-2A		2.290%		9/15/18		AAA		4,463,851
	489	Citigroup Commercial Mortgage Securities Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4		5.205%		12/11/49		AAA		492,250
	4,895	Citigroup Commercial Mortgage Trust Series 2012-GC8		3.024%		9/12/45		Aaa		4,623,983
	2	ContiMortgage Home Equity Loan Trust, Series 1997-2		7.090%		4/15/28		AA		1,744
	5,000	Credit Suisse Commercial Mortgage Trust 2013-IVR4		3.000%		7/25/43		AAA		4,964,060
	4,082	Fannie Mae Mortgage Pool AB2085		4.000%		1/01/41		Aaa		4,254,231
	4,576	Fannie Mae Mortgage Pool AB3194		4.500%		6/01/41		Aaa		4,852,036
	3,659	Fannie Mae Mortgage Pool AB5004		3.500%		4/01/27		Aaa		3,814,827
	3,853	Fannie Mae Mortgage Pool AB9659		3.000%		6/01/43		Aaa		3,770,577
	1,789	Fannie Mae Mortgage Pool AD0706		2.302%		3/01/38		Aaa		1,900,751
	3,732	Fannie Mae Mortgage Pool AD1593		4.500%		2/01/40		Aaa		3,953,899
	2,122	Fannie Mae Mortgage Pool AE0058		2.358%		7/01/36		Aaa		2,252,995
	4,493	Fannie Mae Mortgage Pool AE0217		4.500%		8/01/40		Aaa		4,752,345
	6,649	Fannie Mae Mortgage Pool AE0981		3.500%		3/01/41		Aaa		6,758,592
	1,472	Fannie Mae Mortgage Pool AH3804		4.000%		2/01/41		Aaa		1,534,351
	4,204	Fannie Mae Mortgage Pool AH5575		4.000%		2/01/41		Aaa		4,381,405
	1,940	Fannie Mae Mortgage Pool AH5583		4.500%		2/01/41		Aaa		2,057,299
	4,470	Fannie Mae Mortgage Pool AH8954		4.000%		4/01/41		Aaa		4,663,418
	5,703	Fannie Mae Mortgage Pool AJ7547		4.000%		1/01/42		Aaa		5,949,287
	4,560	Fannie Mae Mortgage Pool AJ9355		3.000%		1/01/27		Aaa		4,696,127
	2,263	Fannie Mae Mortgage Pool AL0160		4.500%		5/01/41		Aaa		2,402,286
	3,607	Fannie Mae Mortgage Pool AL2720		3.000%		11/01/27		Aaa		3,715,074
	7,965	Fannie Mae Mortgage Pool AO9636		2.500%		7/01/27		Aaa		8,024,042
	5,165	Fannie Mae Mortgage Pool MA1028		4.000%		4/01/42		Aaa		5,399,359
	658	Fannie Mae Mortgage Pool 725111		2.370%		9/01/33		Aaa		703,737
	1,814	Fannie Mae Mortgage Pool 725205		5.000%		3/01/34		Aaa		1,963,065
	3,142	Fannie Mae Mortgage Pool 819652		2.665%		3/01/35		Aaa		3,341,451
	433	Fannie Mae Mortgage Pool 848390		1.985%		12/01/35		Aaa		454,083
	2,419	Fannie Mae Mortgage Pool 879906		2.894%		10/01/33		Aaa		2,585,948
	914	Fannie Mae Mortgage Pool 886034		2.764%		7/01/36		Aaa		978,385
	3,087	Fannie Mae Mortgage Pool 960605		5.000%		8/01/37		Aaa		3,333,994
	789	Fannie Mae Mortgage Pool 995949		2.508%		9/01/36		Aaa		836,484
	6	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-89 K		6.500%		7/25/20		Aaa		6,876

Nuveen Investments 51

Portfolio of Investments

Nuveen Core Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	1,463	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2003-52 NF		0.593%		6/25/23		Aaa	$	1,468,340
	3,040	Fannie Mae TBA Mortgage Pool, (WI/DD)		4.500%		TBA		Aaa		3,216,700
	3,690	Fannie Mae TBA Mortgage Pool, (WI/DD)		4.000%		TBA		Aaa		3,844,086
	3,950	Fannie Mae TBA Mortgage Pool, (WI/DD)		3.500%		TBA		Aaa		4,009,867
	5,160	Fannie Mae TBA Mortgage Pool, (WI/DD)		3.000%		TBA		Aaa		5,041,481
	8	Federal Home Loan Mortgage Corporation, REMIC 1167 E		7.500%		11/15/21		Aaa		9,028
	18	Federal Home Loan Mortgage Corporation, REMIC 1286 A		6.000%		5/15/22		Aaa		19,555
	1,918	Federal Home Loan Mortgage Corporation, REMIC 2750 HE		5.000%		2/15/19		Aaa		2,041,070
	775	Federal Home Loan Mortgage Corporation, REMIC 2863 HF		0.693%		2/15/19		Aaa		779,736
	4,865	Fifth Third Auto Trust, Series 2013 A A3		0.610%		9/15/17		Aaa		4,835,946
	4,892	Freddie Mac Gold Pool C09000		3.500%		6/01/42		Aaa		4,962,212
	12,026	Freddie Mac Gold Pool C09029		3.000%		3/01/43		Aaa		11,740,472
	3,283	Freddie Mac Gold Pool G05852		5.500%		3/01/39		Aaa		3,526,908
	3,971	Freddie Mac Gold Pool J13711		3.500%		12/01/25		Aaa		4,126,483
	480	Freddie Mac Gold Pool 786281		2.521%		1/01/28		Aaa		514,790
	425	Freddie Mac Gold Pool 847161		2.350%		5/01/31		Aaa		453,521
	485	Freddie Mac Gold Pool 847190		2.319%		4/01/29		Aaa		517,859
	1,615	Freddie Mac Gold Pool 847209		2.269%		10/01/30		Aaa		1,717,810
	1,223	Freddie Mac Gold Pool 847210		2.336%		9/01/33		Aaa		1,305,930
	2,173	Freddie Mac Gold Pool 848282		2.425%		6/01/38		Aaa		2,303,038
	1,554	Freddie Mac Mortgage Pool, Various A96544		3.500%		1/01/41		Aaa		1,576,252
	1,091	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2006-GG6		5.506%		4/10/38		AAA		1,112,202
	5,000	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)		5.982%		8/10/45		A		5,571,790
	5,384	Government National Mortgage Association Pool		3.500%		6/15/42		Aaa		5,533,857
	3,750	GraceChurch Card PLC. Series 2012-1A		0.893%		2/15/17		AAA		3,775,759
	11	Green Tree Financial Corporation, Manufactured Housing Contract Pass-Through Certificates, Series 1996-9		7.200%		9/15/28		AAA		10,781
	4,600	Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2012-T1		0.898%		1/15/44		AAA		4,583,900
	3,030	JPMorgan JPMBB Commercial Mortgage Securities Trust, Pass-Through Certificates, Series 2013-C12		3.664%		7/17/45		Aaa		2,985,918
	1,111	Mercedes Benz Auto Receivables Trust 2011-1		0.850%		3/16/15		Aaa		1,112,613
	2,319	Mortgage Equity Conversion Asset Trust 2010-1A		4.000%		7/25/60		AA		2,202,795
	3,200	OBP Depositor LLC Trust, Commercial Mortgage Pass-Through Certificates, Series 2010-OBP		4.646%		7/17/45		AAA		3,469,958
	1,894	RBSSP Resecuritization Trust 2010-10		0.323%		9/26/36		N/R		1,726,666
	2,020	SBA Tower Trust		3.598%		4/15/43		BBB		1,998,760
	567	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1		4.125%		2/25/41		AAA		567,026
	1,653	SMART Trust, Asset Backed Securities, Series 2011-1USA		1.043%		10/14/14		Aaa		1,654,188
	213	Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11		2.645%		8/25/34		Ba3		206,865
	765	U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-10A		5.408%		2/10/16		Aaa		807,163

52 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	4,834	U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates, Series 2010-P10B		3.215%		9/01/20		Aaa	$	4,929,371
	4,205	UBS Barclays Commercial Mortgage Trust 2012-C4		2.850%		12/12/45		AAA		3,889,474
	4,208	United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1		3.750%		2/15/35		Aaa		4,459,295
	6,000	Vornado DP LLC Commercial Mortgage Credit Tenant Lease Series 2010-VNO		4.004%		9/13/28		AAA		6,253,140
	1,102	Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8		0.273%		6/15/20		Aaa		1,092,886
	3,342	Walter Investment Management Company Capital Trust, Series 2012-AA		4.549%		10/16/50		BBB		3,340,942
	3,220	Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3		4.375%		3/17/44		Aaa		3,382,475
	4,580	Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2013-C12 A2		2.072%		3/17/48		AAA		4,540,998
$	237,023	Total Asset-Backed and Mortgage-Backed Securities (cost $243,476,611)								242,755,835
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		SOVEREIGN DEBT – 0.3%
		Mexico – 0.3%
$	1,400	United Mexican States		5.625%		1/15/17		Baa1	$	1,556,100
$	1,400	Total Sovereign Debt (cost $1,387,694)								1,556,100
Shares		Description (1)							Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 11.5%
		Money Market Funds – 11.5%
	57,635,312	Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (6), (7)							$	57,635,312
		Total Investments Purchased with Collateral from Securities Lending (cost $57,635,312)								57,635,312
Shares		Description (1)	Coupon						Value
		SHORT-TERM INVESTMENTS – 5.6%
		Money Market Funds – 5.6%
	28,052,047	First American Treasury Obligations Fund, Class Z		0.000% (6)					$	28,052,047
		Total Short-Term Investments (cost $28,052,047)								28,052,047
		Total Investments (cost $574,081,940) – 115.0%								574,815,159
		Other Assets Less Liabilities – (15.0)%								(74,810,618)
		Net Assets – 100%							$	500,004,541

Nuveen Investments 53

Portfolio of Investments

Nuveen Core Bond Fund (continued)

June 30, 2013

Investments in Derivatives as of June 30, 2013

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value*			Unrealized Appreciation (Depreciation)
U.S. Treasury 2-Year Note		Long		62			9/13	$	13,640,000		$	21,668
U.S. Treasury 5-Year Note		Long		196			9/13		23,725,188			(315,029	)
U.S. Treasury 10-Year Note		Long		303			9/13		38,348,439			(869,651	)
U.S. Treasury Long Bond		Short		(36	)		9/13		(4,890,375	)		75,059
U.S. Treasury Ultra Bond		Short		(163	)		9/13		(24,011,938	)		777,292
								$	46,811,314		$	(310,661	)

* Total Notional Amount at Value of Long and Short positions were $75,713,627 and $(28,902,313), respectively.

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	Investment, or a portion of investment, is out on loan for securities lending. The total value of the securities out on loan as of the end of the reporting period was $56,322,451.
(4)	Perpetual security. Maturity date is not applicable.
(5)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(6)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(7)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
N/A	Not applicable.
N/R	Not rated.
TBA	To be announced. Maturity date not known prior to settlement of this transaction.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
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.

See accompanying notes to financial statements.

54 Nuveen Investments

Portfolio of Investments

Nuveen Core Plus Bond Fund

June 30, 2013

Shares		Description (1)	Coupon				Ratings (2)		Value
		$25 PAR (OR SIMILAR) RETAIL STRUCTURES – 2.4%
		Commercial Banks – 1.0%
	159,208	PNC Financial Services		6.125%				BBB	$	4,281,103
	95,750	Regions Financial Corporation, (3)		6.375%				BB		2,345,875
		Total Commercial Banks								6,626,978
		Consumer Finance – 0.3%
	83,000	Discover Financial Services, (3)		6.500%				BB		2,083,300
		Insurance – 0.9%
	104,794	Endurance Specialty Holdings Limited		7.500%				BBB–		2,814,767
	120,000	Hartford Financial Services Group Inc.		7.875%				BB+		3,537,600
		Total Insurance								6,352,367
		Thrifts & Mortgage Finance – 0.2%
	218,000	Federal National Mortgage Association, (3)		8.250%				Ca		991,900
		Total $25 Par (or similar) Retail Structures (cost $19,241,900)								16,054,545
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CORPORATE BONDS – 51.2%
		Aerospace & Defense – 0.7%
$	2,000	Bombardier Inc., 144A		6.125%		1/15/23		BB	$	1,985,000
	2,780	Exelis, Inc.		5.550%		10/01/21		BBB+		2,824,158
	4,780	Total Aerospace & Defense								4,809,158
		Airlines – 0.3%
	1,849	Northwest Airlines Trust Pass-Through Certificates 2007-1		7.027%		11/01/19		BBB+		2,024,534
		Automobiles – 0.2%
	1,340	General Motors Financial Company Inc., 144A		4.250%		5/15/23		BB		1,247,875
		Biotechnology – 0.2%
	1,400	STHI Holding Corporation, 144A		8.000%		3/15/18		B		1,512,000
		Building Products – 0.3%
	2,120	Owens Corning Incorporated		4.200%		12/15/22		BBB–		2,054,252
		Capital Markets – 4.0%
	1,500	E Trade Financial Corporation		6.375%		11/15/19		B2		1,522,500
	4,640	Goldman Sachs Group, Inc.		6.000%		6/15/20		A		5,213,611
	2,495	Goldman Sachs Group, Inc.		5.250%		7/27/21		A		2,669,398
	3,685	Goldman Sachs Group, Inc., (3)		6.750%		10/01/37		A–		3,774,781
	8,250	Morgan Stanley		6.625%		4/01/18		A		9,351,004
	4,105	Morgan Stanley		5.500%		7/28/21		A		4,383,434
	24,675	Total Capital Markets								26,914,728
		Chemicals – 1.1%
	2,375	Braskem Finance Limited, 144A		5.750%		4/15/21		BBB–		2,315,625
	3,830	Incitec Pivot Finance, 144A		6.000%		12/10/19		BBB		4,196,466
	1,000	Ineos Finance PLC, 144A, (3)		7.500%		5/01/20		BB–		1,062,500
	7,205	Total Chemicals								7,574,591
		Commercial Banks – 2.9%
	3,350	Australia and New Zealand Banking Group Limited, 144A		2.400%		11/23/16		Aaa		3,466,915
	2,900	Bancolombia SA		5.950%		6/03/21		Baa2		3,081,250

Nuveen Investments 55

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Commercial Banks (continued)
$	844	FNBC 1993-A Pass-Through Trust Certificates		8.080%		1/05/18		Aa1	$	932,695
	1,890	HSBC Holdings PLC		6.800%		6/01/38		A+		2,173,806
	1,660	ING Bank NV, 144A		3.750%		3/07/17		A+		1,737,422
	3,050	Rabobank Nederland, (3)		3.875%		2/08/22		Aa2		3,071,408
	1,950	Royal Bank of Scotland		6.125%		12/15/22		BBB–		1,855,562
	1,825	Sovereign Bank		8.750%		5/30/18		Baa2		2,206,611
	1,220	Wells Fargo & Company, (3)		3.450%		2/13/23		A+		1,165,143
	18,689	Total Commercial Banks								19,690,812
		Commercial Services & Supplies – 0.5%
	2,000	Ceridian Corporation, 144A		8.875%		7/15/19		B1		2,222,500
	990	R.R. Donnelley & Sons Company		7.625%		6/15/20		BB		1,004,850
	2,990	Total Commercial Services & Supplies								3,227,350
		Communications Equipment – 0.3%
	2,125	America Movil S.A. de C.V.		5.000%		10/16/19		A2		2,301,777
		Computers & Peripherals – 1.1%
	1,965	Apple Inc., 144A		3.850%		5/04/43		AA+		1,745,376
	1,935	Hewlett Packard Company, (3)		4.650%		12/09/21		A–		1,935,178
	510	Lexmark International Group Incorporated		5.125%		3/15/20		BBB–		512,731
	1,375	NCR Corporation		5.000%		7/15/22		BB		1,326,875
	1,820	Seagate HDD Cayman, (3)		7.000%		11/01/21		BBB–		1,947,400
	7,605	Total Computers & Peripherals								7,467,560
		Consumer Finance – 1.0%
	3,348	Capital One Bank		3.375%		2/15/23		Baa1		3,164,710
	1,790	Discover Financial Services		5.200%		4/27/22		BBB		1,847,579
	2,000	Ford Motor Credit Company, (3)		4.250%		9/20/22		Baa3		1,965,732
	7,138	Total Consumer Finance								6,978,021
		Containers & Packaging – 0.8%
	1,500	Ardagh Packaging Finance / MP HD USA, 144A		4.875%		11/15/22		Ba3		1,402,500
	985	Ball Corporation		4.000%		11/15/23		BB+		911,125
	1,000	Crown Americas Capital Corporation IV, 144A		4.500%		1/15/23		BB		942,500
	2,000	Rock-Tenn Company		3.500%		3/01/20		BBB–		1,957,044
	5,485	Total Containers & Packaging								5,213,169
		Diversified Financial Services – 5.1%
	2,250	Bank of America Corporation		6.500%		8/01/16		A		2,536,754
	3,725	Bank of America Corporation		5.750%		12/01/17		A		4,139,872
	2,845	Bank of America Corporation		5.875%		1/05/21		A		3,202,008
	3,205	Citigroup Inc.		4.500%		1/14/22		A		3,339,062
	1,870	Citigroup Inc., (3)		4.050%		7/30/22		BBB+		1,797,268
	2,915	General Electric Capital Corporation		6.875%		1/10/39		AA+		3,592,449
	5,845	JPMorgan Chase & Company		4.500%		1/24/22		A+		6,120,428
	6,000	JPMorgan Chase & Company, (3)		3.200%		1/25/23		A+		5,695,842
	1,680	JPMorgan Chase & Company, (3)		3.375%		5/01/23		A		1,564,349
	2,180	JPMorgan Chase & Company		6.400%		5/15/38		A+		2,557,129
	32,515	Total Diversified Financial Services								34,545,161

56 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Diversified Telecommunication Services – 2.0%
$	2,970	AT&T, Inc.		5.550%		8/15/41		A	$	3,092,379
	2,000	Frontier Communications Corporation, (3)		8.500%		4/15/20		BB+		2,205,000
	3,190	Qwest Corporation, (3)		6.750%		12/01/21		BBB–		3,551,201
	2,000	SBA Telecommunications Corporation, 144A		5.750%		7/15/20		B+		2,005,000
	2,010	Verizon Communications, (3)		6.900%		4/15/38		A		2,470,793
	12,170	Total Diversified Telecommunication Services								13,324,373
		Electric Utilities – 1.0%
	2,500	Exelon Generation Co. LLC		4.250%		6/15/22		BBB+		2,500,278
	1,685	MidAmerican Energy Holdings Company		6.125%		4/01/36		BBB+		1,911,574
	2,095	PPL Capital Funding Inc.		3.500%		12/01/22		BBB		2,004,217
	6,280	Total Electric Utilities								6,416,069
		Energy Equipment & Services – 2.4%
	2,180	Diamond Offshore Drilling Inc., (3)		5.700%		10/15/39		A–		2,559,311
	3,870	Ensco PLC		4.700%		3/15/21		BBB+		4,108,868
	2,000	Markwest Energy Partners LP, (3)		6.750%		11/01/20		BB		2,110,000
	2,935	Nabors Industries Inc., (3)		5.000%		9/15/20		BBB		2,991,965
	2,500	Transocean Inc., (3)		3.800%		10/15/22		BBB–		2,381,380
	1,880	Weatherford International Limited		7.000%		3/15/38		Baa2		2,009,790
	15,365	Total Energy Equipment & Services								16,161,314
		Gas Utilities – 0.4%
	2,375	AmeriGas Finance LLC		7.000%		5/20/22		Ba2		2,428,438
		Health Care Providers & Services – 0.9%
	2,000	HCA Inc., (3)		6.500%		2/15/20		BB+		2,163,750
	1,500	Tenet Healthcare Corporation, 144A		4.375%		10/01/21		BB		1,376,250
	2,185	UnitedHealth Group Incorporated		6.875%		2/15/38		A		2,729,808
	5,685	Total Health Care Providers & Services								6,269,808
		Hotels, Restaurants & Leisure – 0.2%
	1,360	Wynn Las Vegas LLC Corporation, 144A, (3)		4.250%		5/30/23		BBB–		1,258,000
		Independent Power Producers & Energy Traders – 0.2%
	1,000	Calpine Corporation, 144A		7.875%		7/31/20		BB+		1,085,000
		Insurance – 3.1%
	3,975	AFLAC Insurance, (3)		6.450%		8/15/40		A–		4,668,753
	2,950	Hartford Financial Services Group Inc.		6.000%		1/15/19		BBB		3,325,526
	3,015	Liberty Mutual Group Inc., 144A		5.000%		6/01/21		Baa2		3,180,340
	1,760	Liberty Mutual Group Inc., 144A		4.950%		5/01/22		Baa2		1,806,967
	1,000	Lincoln National Corporation		8.750%		7/01/19		A–		1,282,133
	1,640	Pacific LifeCorp.		6.000%		2/10/20		BBB+		1,830,803
	4,000	Prudential Holdings LLC, 144A		7.245%		12/18/23		AA–		4,908,552
	18,340	Total Insurance								21,003,074
		IT Services – 0.4%
	2,750	Computer Sciences Corporation		4.450%		9/15/22		BBB		2,715,474
		Leisure Equipment & Products – 0.4%
	2,950	Hyatt Hotels Corporation, (3)		3.375%		7/15/23		BBB		2,750,149

Nuveen Investments 57

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Media – 5.1%
$	2,000	Clear Channel Worldwide, 144A		6.500%		11/15/22		BB–	$	2,060,000
	2,215	DIRECTV Holdings LLC		5.200%		3/15/20		BBB		2,391,586
	3,350	DIRECTV Holdings LLC		3.800%		3/15/22		BBB		3,217,977
	2,000	Dish DBS Corporation, 144A		4.250%		4/01/18		BB–		1,960,000
	3,060	NBC Universal Media LLC		6.400%		4/30/40		A–		3,659,500
	1,925	NBC Universal Media LLC, (3)		4.450%		1/15/43		A–		1,797,032
	3,590	News America Holdings Inc.		6.650%		11/15/37		BBB+		4,131,178
	1,635	SES SA, 144A, (3)		3.600%		4/04/23		BBB		1,589,514
	2,000	Sinclair Television Group		5.375%		4/01/21		B1		1,930,000
	1,800	Sirius XM Radio Inc., 144A		4.250%		5/15/20		BB		1,692,000
	2,410	Time Warner Cable Inc.		5.875%		11/15/40		BBB		2,207,685
	2,000	UnityMedia Hessen GmBH, 144A, (3)		7.500%		3/15/19		Ba3		2,105,000
	2,987	Viacom Inc.		4.375%		3/15/43		BBB+		2,533,564
	2,725	Vivendi SA, 144A		4.750%		4/12/22		BBB		2,725,463
	33,697	Total Media								34,000,499
		Metals & Mining – 5.0%
	6,035	Alcoa Inc., (3)		5.400%		4/15/21		BBB–		5,874,547
	4,530	Anglogold Holdings PLC		6.500%		4/15/40		Baa2		3,746,650
	5,925	ArcelorMittal, (3)		6.750%		2/25/22		BB+		6,073,125
	3,500	Cliffs Natural Resources Inc., (3)		4.800%		10/01/20		BBB–		3,154,886
	1,535	Freeport McMoRan Copper & Gold, Inc., (3)		3.550%		3/01/22		BBB		1,394,328
	3,700	Newmont Mining Corporation, (3)		3.500%		3/15/22		BBB+		3,166,220
	2,770	Rio Tinto Finance USA PLC, (3)		2.875%		8/21/22		A–		2,539,807
	1,440	Teck Resources Limited		6.250%		7/15/41		BBB		1,364,207
	3,895	Vale Overseas Limited		6.875%		11/10/39		A–		3,931,539
	2,340	Xstrata Finance Canada Limited, 144A		6.900%		11/15/37		BBB		2,343,295
	35,670	Total Metals & Mining								33,588,604
		Oil, Gas & Consumable Fuels – 5.9%
	3,230	Anadarko Petroleum Corporation		6.200%		3/15/40		BBB–		3,623,976
	2,000	Canadian Oil Sands Trust		7.750%		5/15/19		BBB		2,413,842
	2,000	Cheniere Energy Inc., 144A		5.625%		2/01/21		BB+		1,940,000
	1,500	Chesapeake Energy Corporation, (3)		6.125%		2/15/21		BB–		1,575,000
	2,000	Cimarex Energy Company		5.875%		5/01/22		BB+		2,070,000
	2,000	Continental Resources Inc.		5.000%		9/15/22		BB+		2,035,000
	2,000	Denbury Resources Incorporated		4.625%		7/15/23		BB		1,845,000
	1,725	Everest Acquisition LLC Finance, (3)		6.875%		5/01/19		Ba3		1,845,750
	4,785	Lukoil International Finance, 144A		6.125%		11/09/20		BBB		5,036,213
	1,500	Noble Energy Inc.		4.150%		12/15/21		BBB		1,548,770
	2,495	Petrobras International Finance Company		6.875%		1/20/40		A3		2,518,645
	2,255	Petro-Canada		6.800%		5/15/38		BBB+		2,613,279
	3,000	Petroleos Mexicanos		5.500%		1/21/21		Baa1		3,195,000
	2,000	Range Resources Corporation		6.750%		8/01/20		BB		2,145,000
	1,900	Reliance Holdings USA Inc., 144A		5.400%		2/14/22		BBB+		1,930,189
	1,955	Southwestern Energy Company		4.100%		3/15/22		BBB–		1,946,662
	1,480	Targa Resources Inc., 144A		4.250%		11/15/23		BB		1,320,900
	37,825	Total Oil, Gas & Consumable Fuels								39,603,226

58 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Paper & Forest Products – 1.1%
$	2,485	Domtar Corporation		4.400%		4/01/22		BBB–	$	2,409,657
	1,820	Georgia-Pacific Corporation, 144A		5.400%		11/01/20		A		2,029,484
	2,265	International Paper Company		8.700%		6/15/38		BBB		3,074,092
	6,570	Total Paper & Forest Products								7,513,233
		Pharmaceuticals – 0.2%
	1,375	AbbVie Inc., 144A		2.900%		11/06/22		A+		1,285,819
		Real Estate Investment Trust – 1.0%
	1,200	Plum Creek Timberlands LP		4.700%		3/15/21		BBB		1,241,593
	2,995	Prologis Inc.		6.875%		3/15/20		BBB		3,475,209
	2,315	Realty Income Corporation		3.250%		10/15/22		BBB+		2,117,405
	6,510	Total Real Estate Investment Trust								6,834,207
		Road & Rail – 0.2%
	1,125	Hertz Corporation, 144A		6.250%		10/15/22		B		1,174,219
		Semiconductors & Equipment – 0.2%
	1,300	Intel Corporation		4.800%		10/01/41		A+		1,292,535
		Specialty Retail – 0.3%
	2,000	O’Reilly Automotive Inc.		4.875%		1/14/21		BBB		2,129,378
		Thrifts & Mortgage Finance – 0.4%
	2,730	WEA Finance LLC, 144A		4.625%		5/10/21		A2		2,879,997
		Tobacco – 1.0%
	2,200	Altria Group Inc.		2.850%		8/09/22		Baa1		2,034,289
	2,000	Imperial Tobacco Finance, 144A		3.500%		2/11/23		BBB		1,880,320
	2,705	Lorillard Tobacco, (3)		6.875%		5/01/20		Baa2		3,108,270
	6,905	Total Tobacco								7,022,879
		Trading Companies & Distributors – 0.3%
	2,000	International Lease Finance Corporation, (3)		4.625%		4/15/21		BBB–		1,840,000
		Transportation Infrastructure – 0.6%
	3,800	Asciano Finance Limited, 144A		5.000%		4/07/18		Baa2		4,037,046
		Wireless Telecommunication Services – 0.4%
	2,780	American Tower Company		5.050%		9/01/20		BBB		2,921,482
$	332,478	Total Corporate Bonds (cost $338,181,141)								345,095,811
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 4.0%
		Capital Markets – 0.3%
$	2,415	Goldman Sachs Capital II		4.000%		N/A (4)		BB+	$	1,919,925
		Commercial Banks – 1.1%
	1,620	Fifth Third Bancorp., (3)		5.100%		N/A (4)		BB+		1,530,900
	3,500	Wachovia Capital Trust III		5.570%		N/A (4)		BBB+		3,434,375
	2,760	Wells Fargo Capital Trust X		5.950%		12/15/36		BBB+		2,718,600
	7,880	Total Commercial Banks								7,683,875
		Diversified Financial Services – 1.0%
	1,930	Citigroup Inc., (3)		5.950%		N/A (4)		BB		1,920,543
	4,000	General Electric Capital Corporation		7.125%		N/A (4)		AA–		4,520,000
	5,930	Total Diversified Financial Services								6,440,543

Nuveen Investments 59

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Electric Utilities – 0.2%
$	1,785	Electricite de France, 144A, (3)		5.250%		N/A (4)		A3	$	1,706,460
		Insurance – 1.4%
	2,970	Catlin Insurance Company Limited		7.249%		N/A (4)		BBB+		3,036,825
	2,205	Lincoln National Corporation		6.050%		4/20/67		BBB		2,160,194
	1,095	Prudential Financial Inc.		5.200%		3/15/44		BBB+		1,034,775
	2,755	ZFS Finance USA Trust V		6.500%		5/09/37		A		2,934,075
	9,025	Total Insurance								9,165,869
$	27,035	Total $1,000 Par (or similar) Institutional Structures (cost $25,578,543)								26,916,672
Principal Amount (000)		Description (1)			Optional Call Provisions (5)		Ratings (2)		Value
		MUNICIPAL BONDS – 1.0%
		Illinois – 1.0%
$	5,765	Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19				No Opt. Call		A–	$	6,361,966
$	5,765	Total Municipal Bonds (cost $5,765,000)								6,361,966
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 5.4%
$	4,455	U.S. Treasury Bonds		4.250%		11/15/40		Aaa	$	5,122,555
	425	U.S. Treasury Bonds		4.750%		2/15/41		Aaa		528,195
	7,150	U.S. Treasury Notes		2.375%		2/28/15		Aaa		7,397,176
	8,985	U.S. Treasury Notes		1.250%		8/31/15		Aaa		9,145,041
	1,385	U.S. Treasury Notes		3.625%		2/15/20		Aaa		1,545,033
	5,845	U.S. Treasury Notes		2.625%		8/15/20		Aaa		6,108,025
	2,020	U.S. Treasury Notes		2.000%		11/15/21		Aaa		1,985,123
	2,635	U.S. Treasury Notes		1.750%		5/15/22		Aaa		2,512,514
	2,065	U.S. Treasury Notes		3.875%		8/15/40		Aaa		2,232,136
$	34,965	Total U.S. Government and Agency Obligations (cost $34,576,485)								36,575,798
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 35.9%
$	4,022	321 Henderson Receivables LLC, Series 2010-3A		3.820%		12/15/48		Aaa	$	4,208,668
	3,075	AmeriCold LLC Trust, Series 2010		6.811%		1/14/29		A+		3,545,592
	1	Amresco Residential Securities Corporation, Mortgage Loan Pass-Through Certificates, Series 1997-3		6.960%		3/25/27		Baa2		1,368
	951	Bank of America Funding Trust, Mortgage Pass-Through Certificates, Series 2007-4		5.500%		6/25/37		CC		313,701
	1,250	Bayview Financial Mortgage Pass-Through Trust, Mortgage Pass-Through Certificate Series 2005-D		5.500%		12/28/35		BB		1,224,011
	750	CarFinance Capital Auto Trust, Automobile Receivables-Backed Notes, Series 2013-1, 144A		3.450%		3/15/19		Baa3		739,241
	982	Citigroup Commercial Mortgage Securities Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4, (3)		5.205%		12/11/49		AAA		988,707
	192	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-J1		6.000%		2/25/34		AA+		196,383

60 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	1,569	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB		6.000%		8/25/36		Caa3	$	1,335,167
	1,160	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-2		2.762%		2/25/34		A		1,076,434
	539	Countrywide Home Loans, Asset-Backed Certificates, Series 2003-SC1		2.443%		9/25/23		BB+		488,521
	5,000	Credit Suisse Commercial Mortgage Trust 2013-IVR4		3.000%		7/25/43		AAA		4,964,060
	3,132	Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-8		6.208%		4/25/33		A+		3,004,898
	2,550	DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A		3.642%		8/12/44		Aaa		2,692,397
	7,427	Fannie Mae Mortgage Pool AB1959		4.000%		12/01/40		Aaa		7,758,246
	6,943	Fannie Mae Mortgage Pool AB9659		3.000%		6/01/43		Aaa		6,793,876
	5,111	Fannie Mae Mortgage Pool AC1877		4.500%		9/01/39		Aaa		5,405,818
	6,921	Fannie Mae Mortgage Pool AD4375		5.000%		5/01/40		Aaa		7,533,132
	6,100	Fannie Mae Mortgage Pool AE7265		4.000%		1/01/41		Aaa		6,358,274
	7,704	Fannie Mae Mortgage Pool AH3804		4.000%		2/01/41		Aaa		8,029,980
	2,260	Fannie Mae Mortgage Pool AL0160		4.500%		5/01/41		Aaa		2,398,555
	1,652	Fannie Mae Mortgage Pool MA1028		4.000%		4/01/42		Aaa		1,726,670
	138	Fannie Mae Mortgage Pool 250551		7.000%		5/01/26		Aaa		157,236
	578	Fannie Mae Mortgage Pool 252255		6.500%		2/01/29		Aaa		664,012
	1,240	Fannie Mae Mortgage Pool 254169		6.500%		12/01/31		Aaa		1,346,527
	923	Fannie Mae Mortgage Pool 254379		7.000%		7/01/32		Aaa		1,048,936
	986	Fannie Mae Mortgage Pool 254447		6.000%		9/01/32		Aaa		1,085,759
	874	Fannie Mae Mortgage Pool 254513		6.000%		10/01/22		Aaa		950,593
	2,178	Fannie Mae Mortgage Pool 255575		5.500%		1/01/25		Aaa		2,385,831
	513	Fannie Mae Mortgage Pool 256845		6.500%		8/01/37		Aaa		568,585
	1,585	Fannie Mae Mortgage Pool 256852		6.000%		8/01/27		Aaa		1,737,306
	815	Fannie Mae Mortgage Pool 256890		6.000%		9/01/37		Aaa		876,136
	954	Fannie Mae Mortgage Pool 257307		6.000%		8/01/38		Aaa		1,037,003
	80	Fannie Mae Mortgage Pool 340798		7.000%		4/01/26		Aaa		89,540
	45	Fannie Mae Mortgage Pool 440780		5.500%		2/01/14		Aaa		47,126
	17	Fannie Mae Mortgage Pool 535206		7.000%		2/01/15		Aaa		17,822
	137	Fannie Mae Mortgage Pool 545359		2.405%		3/01/31		Aaa		146,762
	333	Fannie Mae Mortgage Pool 545813		7.000%		7/01/32		Aaa		389,064
	218	Fannie Mae Mortgage Pool 545815		7.000%		7/01/32		Aaa		247,472
	1,441	Fannie Mae Mortgage Pool 555798		6.500%		5/01/33		Aaa		1,612,359
	1,158	Fannie Mae Mortgage Pool 555800		5.500%		10/01/33		Aaa		1,267,059
	2,239	Fannie Mae Mortgage Pool 555843		2.212%		8/01/30		Aaa		2,378,300
	112	Fannie Mae Mortgage Pool 591038		7.000%		8/01/16		Aaa		118,150
	499	Fannie Mae Mortgage Pool 673010		5.500%		12/01/17		Aaa		527,209
	2,041	Fannie Mae Mortgage Pool 688330		6.000%		3/01/33		Aaa		2,277,062
	1,617	Fannie Mae Mortgage Pool 694605		5.500%		4/01/33		Aaa		1,769,385
	3,733	Fannie Mae Mortgage Pool 709446		5.500%		7/01/33		Aaa		4,169,573
	737	Fannie Mae Mortgage Pool 725248		5.000%		3/01/34		Aaa		797,111
	571	Fannie Mae Mortgage Pool 725553		2.175%		9/01/33		Aaa		603,526
	2,585	Fannie Mae Mortgage Pool 735054		5.180%		11/01/34		Aaa		2,775,340

Nuveen Investments 61

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	2,672		Fannie Mae Mortgage Pool 735273		6.500%		6/01/34		Aaa	$	3,008,660
	1,688		Fannie Mae Mortgage Pool 745101		6.000%		4/01/32		Aaa		1,818,768
	136		Fannie Mae Mortgage Pool 772130		6.000%		11/01/33		Aaa		149,909
	205		Fannie Mae Mortgage Pool 772256		6.000%		11/01/33		Aaa		224,424
	331		Fannie Mae Mortgage Pool 781776		6.000%		10/01/34		Aaa		364,868
	895		Fannie Mae Mortgage Pool 885536		6.000%		8/01/36		Aaa		986,123
	4,642		Fannie Mae Mortgage Pool 889618		5.500%		5/01/38		Aaa		5,034,818
	159		Fannie Mae Mortgage Pool 889706		6.000%		6/01/38		Aaa		173,180
	1,804		Fannie Mae Mortgage Pool 900555		6.000%		9/01/36		Aaa		1,986,784
	1,215		Fannie Mae Mortgage Pool 932260		5.000%		12/01/39		Aaa		1,329,393
	3,745		Fannie Mae Mortgage Pool 932323		4.500%		12/01/39		Aaa		3,960,816
	680		Fannie Mae Mortgage Pool 944340		6.000%		6/01/37		Aaa		739,022
	5,824		Fannie Mae Mortgage Pool 973241		5.000%		3/01/38		Aaa		6,258,870
	1		Fannie Mae Mortgage Pool 983077		5.000%		5/01/38		Aaa		551
	—	(11)	Fannie Mae Mortgage Pool 985344		5.500%		7/01/38		Aaa		363
	1,314		Fannie Mae Mortgage Pool 993138		6.000%		10/01/38		Aaa		1,431,574
	13		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1988-24 G		7.000%		10/25/18		Aaa		14,410
	12		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1989-44 H		9.000%		7/25/19		Aaa		13,392
	3		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1989-90 E		8.700%		12/25/19		Aaa		3,012
	9		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-30 E		6.500%		3/25/20		Aaa		9,946
	12		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-61 H		7.000%		6/25/20		Aaa		13,489
	11		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-72 B		9.000%		7/25/20		Aaa		12,810
	15		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-102 J		6.500%		8/25/20		Aaa		16,288
	121		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1990-105 J		6.500%		9/25/20		Aaa		131,040
	44		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1991-56 M		6.750%		6/25/21		Aaa		46,490
	78		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1991-134 Z		7.000%		10/25/21		Aaa		87,032
	11		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1992-120 C		6.500%		7/25/22		Aaa		12,540
	364		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1996-35 Z		7.000%		7/25/26		Aaa		412,712
	919		Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2005-62 JE		5.000%		6/25/35		Aaa		1,030,459
	1,214		Fannie Mae REMIC Pass-Through Certificates 2003-W1 B1		5.750%		12/25/42		B1		791,866
	4,920		Fannie Mae TBA Mortgage Pool, (WI/DD)		3.500%		TBA		Aaa		4,994,569
	3,475		Fannie Mae TBA Mortgage Pool, (WI/DD)		3.000%		TBA		Aaa		3,395,183
	12		Federal Home Loan Mortgage Corporation, REMIC 1022 J		6.000%		12/15/20		Aaa		13,023
	22		Federal Home Loan Mortgage Corporation, REMIC 1118 Z		8.250%		7/15/21		Aaa		25,101
	33		Federal Home Loan Mortgage Corporation, REMIC 162 F		7.000%		5/15/21		Aaa		36,336

62 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	21	Federal Home Loan Mortgage Corporation, REMIC 1790 A		7.000%		4/15/22		Aaa	$	22,592
	75	Federal Home Loan Mortgage Corporation, REMIC 188 H		7.000%		9/15/21		Aaa		83,806
	1,154	Federal Home Loan Mortgage Corporation, REMIC 2704 JF		0.743%		5/15/23		Aaa		1,162,162
	1,819	Federal Home Loan Mortgage Corporation, REMIC 2901 UB		5.000%		3/15/33		Aaa		1,845,617
	1,469	Federal Home Loan Mortgage Corporation, REMIC 3591 FP		0.793%		6/15/39		Aaa		1,479,216
	7	Federal Home Loan Mortgage Corporation, REMIC 6 C		9.050%		6/15/19		Aaa		7,167
	2,502	Freddie Mac Gold Pool 1G2163		2.848%		9/01/37		Aaa		2,671,083
	518	Freddie Mac Gold Pool 847190		2.319%		4/01/29		Aaa		553,330
	626	Freddie Mac Gold Pool 847180		2.410%		3/01/30		Aaa		669,850
	906	Freddie Mac Gold Pool 847240		2.288%		7/01/30		Aaa		959,162
	419	Freddie Mac Gold Pool 846984		1.923%		6/01/31		Aaa		441,683
	717	Freddie Mac Mortgage Pool, Various A15521		6.000%		11/01/33		Aaa		800,583
	837	Freddie Mac Mortgage Pool, Various A17212		6.500%		7/01/31		Aaa		961,378
	555	Freddie Mac Mortgage Pool, Various C00676		6.500%		11/01/28		Aaa		637,281
	450	Freddie Mac Mortgage Pool, Various C00689		6.500%		12/01/28		Aaa		502,275
	255	Freddie Mac Mortgage Pool, Various C00742		6.500%		4/01/29		Aaa		285,101
	263	Freddie Mac Mortgage Pool, Various G00876		6.500%		1/01/28		Aaa		299,427
	302	Freddie Mac Mortgage Pool, Various H09059		7.000%		8/01/37		Aaa		335,988
	370	Freddie Mac Mortgage Pool, Various P10023		4.500%		3/01/18		Aaa		380,722
	1,094	Freddie Mac Mortgage Pool, Various P10032		4.500%		5/01/18		Aaa		1,124,612
	87	Freddie Mac Non Gold Participation Certificates 846757		2.326%		5/01/25		Aaa		92,925
	5,000	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)		5.982%		8/10/45		A		5,571,790
	559	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2003-1		6.699%		3/25/43		Ba3		358,519
	674	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-RP2 1A2		7.500%		3/25/35		B1		703,497
	762	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-RP3 1A2		7.500%		9/25/35		Ba3		794,168
	6,220	Government National Mortgage Association TBA Mortgage Backed Securities, (WI/DD)		3.000%		TBA		Aaa		6,149,053
	6,626	Government National Mortgage Association Pool 4946		4.500%		2/20/41		Aaa		7,069,801
	193	Government National Mortgage Association Pool 537699		7.500%		11/15/30		Aaa		221,388
	1	Government National Mortgage Association Pool 8259		1.750%		8/20/23		Aaa		793
	933	IndyMac INDX Mortgage Loan Trust, Pass-Through Certificates, Series 2005-AR1		2.630%		3/25/35		BBB+		911,927
	2,287	JPMorgan Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2007-S1		0.473%		6/25/37		CCC		1,893,766
	5,570	JPMorgan Chase Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C4		4.106%		7/17/46		AAA		5,935,838
	135	LB-UBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2005-C7		5.103%		11/18/30		AAA		135,482
	6,000	LB-UBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2004-C2		4.367%		3/15/36		AAA		6,104,832
	1,095	Lehman Mortgage Trust, Mortgage Pass-Through Certificates, Series 2008-6		5.522%		4/25/38		BB+		1,111,728
	1,617	Mid-State Capital Corporation Trust Notes, Series 2005-1		5.745%		1/15/40		AA		1,806,213

Nuveen Investments 63

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	843	Mortgage Asset Securitization Transaction Inc., Alternative Loan Trust Mortgage Pass-Through Certificates Series 2004-1		7.000%		1/25/34		BBB+	$	874,762
	3,607	Mortgage Equity Conversion Asset Trust 2010-1A		4.000%		7/25/60		AA		3,426,570
	4,185	National Credit Union Administration Guaranteed Structured Collateral Notes		2.900%		10/29/20		Aaa		4,368,106
	5,590	OBP Depositor LLC Trust, Commercial Mortgage Pass-Through Certificates, Series 2010-OBP		4.646%		7/17/45		AAA		6,061,584
	3,198	RBSSP Resecuritization Trust 2010-10		0.323%		9/26/36		N/R		2,915,572
	2,977	RBSSP Resecuritization Trust, Series 2012-8 1A1		0.319%		10/28/36		N/R		2,807,206
	2,610	SBA Tower Trust		3.598%		4/15/43		BBB		2,582,556
	852	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1		4.125%		2/25/41		AAA		851,969
	3,168	Springleaf Mortgage Loan Trust 2011-1		4.050%		1/25/58		AAA		3,273,567
	308	Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11		2.645%		8/25/34		Ba3		299,368
	2,074	U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-P10B		5.681%		8/10/16		Aaa		2,245,358
	6,380	United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1		3.750%		2/15/35		Aaa		6,760,291
	1,706	Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8		0.273%		6/15/20		Aaa		1,691,677
	3,912	Wachovia Mortgage Loan Trust LLC, Mortgage Pass-Through Certificates, Series 2005-B		2.963%		10/20/35		CCC		3,120,090
	1,040	Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2007-2		5.750%		3/25/37		Caa2		941,996
	5,000	Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3		4.375%		3/17/44		Aaa		5,252,289
$	233,805	Total Asset-Backed and Mortgage-Backed Securities (cost $233,099,252)								241,960,020
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		SOVEREIGN DEBT – 0.1%
		Poland – 0.1%
$	1,000	Republic of Poland		3.000%		3/17/23		A2	$	902,500
$	1,000	Total Sovereign Debt (cost $984,480)								902,500
Shares		Description (1)							Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 11.1%
		Money Market Funds – 11.1%
	74,451,214	Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (6), (7)							$	74,451,214
		Total Investments Purchased with Collateral from Securities Lending (cost $74,451,214)								74,451,214

64 Nuveen Investments

Shares		Description (1)	Coupon		Value
		SHORT-TERM INVESTMENTS – 1.9%
		Money Market Funds – 1.9%
	12,514,364	First American Treasury Obligations Fund, Class Z		0.000% (6)	$	12,514,364
		Total Short-Term Investments (cost $12,514,364)				12,514,364
		Total Investments (cost $744,392,379) – 113.0%				760,832,890
		Other Assets Less Liabilities – (13.0)% (8)				(87,307,356)
		Net Assets – 100%			$	673,525,534

Investments in Derivatives as of June 30, 2013

Forward Foreign Currency Exchange Contracts outstanding:

Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation) (U.S. Dollars) (8)
Goldman Sachs	Canadian Dollar		6,939,150		U.S. Dollar		7,100,000		8/09/13	$	(188,176	)
Goldman Sachs	U.S. Dollar		7,100,000		Canadian Dollar		6,771,869		8/09/13		20,894
										$	(167,282	)

Credit Default Swaps outstanding:

Counterparty	Reference Entity	Buy/Sell Protection (9)		Current Credit Spread (10)			Notional Amount (U.S. Dollars)		Fixed Rate (Annualized)			Termination Date		Value		Unrealized Appreciation (Depreciation)
Citigroup	Markit CDX NA HY20 Index		Sell		4.32	%	$	3,300,000		5.000	%		6/20/18	$	104,931	$	(29,525	)

Interest Rate Swaps outstanding:

Counterparty	Notional Amount		Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Termination Date		Unrealized Appreciation (Depreciation) (8)
Deutsche Bank AG	$	23,000,000		Receive		3-Month USD-LIBOR-BBA		1.741	%		Semi-Annually		11/08/22	$	1,634,060
JPMorgan Chase		12,000,000		Receive		3-Month USD-LIBOR-BBA		2.078			Semi-Annually		2/19/23		504,724
	$	35,000,000												$	2,138,784

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value*			Unrealized Appreciation (Depreciation)
U.S. Treasury 5-Year Note		Long		54			9/13	$	6,536,531		$	(97,815	)
U.S. Treasury 10-Year Note		Short		(592	)		9/13		(74,925,000	)		1,653,606
U.S. Treasury Long Bond		Short		(62	)		9/13		(8,422,312	)		306,406
U.S. Treasury Ultra Bond		Short		(69	)		9/13		(10,164,562	)		373,212
								$	(86,975,343	)	$	2,235,409

* Total Notional Amount at Value of Long and Short positions were $6,536,531 and $(93,511,874), respectively.

Nuveen Investments 65

Portfolio of Investments

Nuveen Core Plus Bond Fund (continued)

June 30, 2013

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $72,740,635.
(4)	Perpetual security. Maturity date is not applicable.
(5)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(6)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(7)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
(8)	Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.
(9)	The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.
(10)	The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.
(11)	Principal Amount (000) rounds to less than $1,000.
N/A	Not applicable.
N/R	Not rated.
TBA	To be announced. Maturity date not known prior to settlement of this transaction.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
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.
USD-LIBOR-BBA	United States Dollar–London Inter-Bank Offered Rate British Bankers’ Association.

See accompanying notes to financial statements.

66 Nuveen Investments

Portfolio of Investments

Nuveen Global Total Return Bond Fund

June 30, 2013

Shares		Description (1)	Coupon				Ratings (2)		Value
		$25 PAR (OR SIMILAR) RETAIL STRUCTURES – 1.7%
		Commercial Banks – 0.7%
	2,400	PNC Financial Services		6.125%				BBB	$	64,536
	2,000	Regions Financial Corporation		6.375%				BB		49,000
		Total Commercial Banks								113,536
		Consumer Finance – 0.4%
	3,000	Discover Financial Services		6.500%				BB		75,300
		Insurance – 0.4%
	2,400	Hartford Financial Services Group Inc.		7.875%				BB+		70,752
		Oil, Gas & Consumable Fuels – 0.2%
	1,440	Nustar Logistics Limited Partnership		7.625%				Ba2		37,728
		Total $25 Par (or similar) Retail Structures (cost $279,681)								297,316
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CORPORATE BONDS – 40.7%
		Airlines – 0.2%
$	24	Delta Air Lines Pass Through Certificates, Series 2012-1B		6.875%		5/07/19		BB+	$	25,439
		Auto Components – 0.7%
	50	Ahern Rentals Inc., 144A		9.500%		6/15/18		B		49,875
	45	American & Axle Manufacturing Inc.		6.625%		10/15/22		B		45,675
	25	Pittsburgh Glass Works LLC, 144A		8.500%		4/15/16		B+		24,750
	120	Total Auto Components								120,300
		Automobiles – 0.4%
	30	Chrysler GP/CG Company		8.000%		6/15/19		B1		32,738
	30	General Motors Financial Company Inc., 144A		4.250%		5/15/23		BB		27,938
	60	Total Automobiles								60,676
		Biotechnology – 0.1%
	20	STHI Holding Corporation, 144A		8.000%		3/15/18		B		21,600
		Capital Markets – 3.2%
	40	E Trade Financial Corporation		6.375%		11/15/19		B2		40,600
	125	Goldman Sachs Group, Inc.		6.000%		6/15/20		A		140,453
	150	Morgan Stanley		4.875%		11/01/22		BBB+		148,185
	70	Morgan Stanley		6.625%		4/01/18		A		79,342
	125	Morgan Stanley		5.500%		7/24/20		A		134,611
	25	UBS AG Stamford		4.875%		8/04/20		A		27,605
	535	Total Capital Markets								570,796
		Chemicals – 1.2%
	25	Hexion US Finance		6.625%		4/15/20		Ba3		24,938
	25	Huntsman International LLC, Series 2011		8.625%		3/15/21		B+		27,438
	70	Ineos Finance PLC, 144A		7.500%		5/01/20		BB–		74,375
	25	Momentive Performance Materials Inc.		8.875%		10/15/20		B1		26,125
	50	Taminco Global Chemical Corporation, 144A		9.750%		3/31/20		B–		55,688
	195	Total Chemicals								208,564
		Commercial Banks – 0.5%
	25	HSBC Holdings PLC		6.800%		6/01/38		A+		28,754

Nuveen Investments 67

Portfolio of Investments

Nuveen Global Total Return Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Commercial Banks (continued)
$	40	Royal Bank of Scotland		6.125%		12/15/22		BBB–	$	38,063
	25	Wells Fargo & Company		3.450%		2/13/23		A+		23,876
	90	Total Commercial Banks								90,693
		Commercial Services & Supplies – 0.2%
	27	Ceridian Corporation, 144A		8.875%		7/15/19		B1		30,004
		Communications Equipment – 0.4%
	20	Goodman Networks Inc., 144A		12.125%		7/01/18		B		21,200
	50	IntelSat Jackson Holdings, 144A		6.625%		12/15/22		CCC+		48,500
	70	Total Communications Equipment								69,700
		Computers & Peripherals – 0.4%
	30	Hewlett Packard Company		4.650%		12/09/21		A–		30,003
	15	Lexmark International Group Incorporated		5.125%		3/15/20		BBB–		15,080
	30	Seagate HDD Cayman		7.000%		11/01/21		BBB–		32,100
	75	Total Computers & Peripherals								77,183
		Construction & Engineering – 1.1%
	200	Odebrecht Finance Limited, 144A		5.125%		6/26/22		BBB–		196,000
		Consumer Finance – 0.9%
	35	Discover Financial Services		5.200%		4/27/22		BBB		36,126
	100	Ford Motor Credit Company		6.625%		8/15/17		Baa3		113,179
	135	Total Consumer Finance								149,305
		Containers & Packaging – 0.7%
	20	Ball Corporation		4.000%		11/15/23		BB+		18,500
	2	Intertape Polymer US Inc.		8.500%		8/01/14		B–		1,990
	100	Reynolds Group		7.125%		4/15/19		B+		105,625
	122	Total Containers & Packaging								126,115
		Diversified Financial Services – 4.1%
	50	Bank of America Corporation		5.750%		12/01/17		A		55,569
	115	Bank of America Corporation		5.875%		1/05/21		A		129,431
	100	Bank of America Corporation		5.700%		1/24/22		A		111,005
	20	Citigroup Inc.		4.500%		1/14/22		A		20,837
	70	Citigroup Inc.		4.050%		7/30/22		BBB+		67,277
	30	Citigroup Inc.		6.125%		8/25/36		BBB+		29,373
	30	General Electric Capital Corporation		5.300%		2/11/21		AA		32,909
	25	General Electric Capital Corporation		6.875%		1/10/39		AA+		30,810
	150	JPMorgan Chase & Company		4.500%		1/24/22		A+		157,068
	40	JPMorgan Chase & Company		3.375%		5/01/23		A		37,246
	45	JPMorgan Chase & Company		6.400%		5/15/38		A+		52,785
	675	Total Diversified Financial Services								724,310
		Diversified Telecommunication Services – 1.4%
	25	AT&T, Inc.		5.550%		8/15/41		A		26,030
	35	Brasil Telecom S.A., 144A		5.750%		2/10/22		BBB		32,594
	20	CyrusOne LP Finance, 144A		6.375%		11/15/22		B+		20,500
	150	Deutsche Telekom International Finance BV, 144A		4.875%		3/06/42		BBB+		146,323
	20	Windstream Corporation		6.375%		8/01/23		BB+		18,700
	250	Total Diversified Telecommunication Services								244,147

68 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Electric Utilities – 0.6%
$	55	APT Pipelines Limited, 144A		3.875%		10/11/22		BBB	$	50,727
	50	Energy Future Intermediate Holding Company LLC		10.000%		12/01/20		B2		54,750
	105	Total Electric Utilities								105,477
		Energy Equipment & Services – 1.1%
	20	Diamond Offshore Drilling Inc.		5.700%		10/15/39		A–		23,480
	25	Gulfmark Offshore Inc.		6.375%		3/15/22		BB–		24,813
	50	Nabors Industries Inc.		5.000%		9/15/20		BBB		50,970
	25	Precision Drilling Corporation		6.500%		12/15/21		Ba1		25,313
	50	Transocean Inc.		3.800%		10/15/22		BBB–		47,628
	25	Weatherford International Limited		7.000%		3/15/38		Baa2		26,726
	195	Total Energy Equipment & Services								198,930
		Food Products – 0.5%
	20	JBS USA LLC		7.250%		6/01/21		BB		20,000
	25	Pinnacle Foods Finance LLC, 144A		4.875%		5/01/21		B–		23,875
	40	Tyson Foods		4.500%		6/15/22		BBB		40,873
	85	Total Food Products								84,748
		Gas Utilities – 0.1%
	25	AmeriGas Finance LLC		6.750%		5/20/20		Ba2		25,875
		Health Care Providers & Services – 1.1%
	25	HCA Holdings Inc.		7.750%		5/15/21		B–		27,000
	25	Kindred Healthcare Inc.		8.250%		6/01/19		B–		25,625
	100	Labco SAS, 144A		8.500%		1/15/18		BB–		135,696
	150	Total Health Care Providers & Services								188,321
		Hotels, Restaurants & Leisure – 0.5%
	25	Graton Economic Development Authority, 144A		9.625%		9/01/19		B		27,375
	25	Shearer’s Foods LLC, 144A		9.000%		11/01/19		B		26,438
	25	Viking Cruises Limited, 144A		8.500%		10/15/22		B		27,375
	75	Total Hotels, Restaurants & Leisure								81,188
		Independent Power Producers & Energy Traders – 0.4%
	25	Calpine Corporation, 144A		7.500%		2/15/21		BB+		26,688
	25	Constellation Energy Group		5.150%		12/01/20		BBB+		27,418
	20	GenOn Energy		9.500%		10/15/18		B		22,200
	70	Total Independent Power Producers & Energy Traders								76,306
		Industrial Conglomerates – 0.1%
	20	Abengoa Finance SAU, 144A		8.875%		11/01/17		B+		18,600
		Insurance – 1.1%
	30	Allied World Assurance Holdings Limited		7.500%		8/01/16		A–		34,576
	35	Hartford Financial Services Group Inc.		6.000%		1/15/19		BBB		39,455
	30	Liberty Mutual Group Inc., 144A		4.950%		5/01/22		Baa2		30,801
	25	MetLife Inc.		6.750%		6/01/16		A–		28,613
	20	Prudential Financial Inc.		5.500%		3/15/16		A		22,089
	35	Swiss Re Treasury US Corporation, 144A		4.250%		12/06/42		AA–		30,795
	175	Total Insurance								186,329
		IT Services – 0.1%
	20	First Data Corporation		6.750%		11/01/20		BB–		20,350

Nuveen Investments 69

Portfolio of Investments

Nuveen Global Total Return Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Machinery – 0.8%
$	50	Ingersoll Rand, 144A		5.750%		6/15/43		BBB	$	50,812
	40	Terex Corporation		6.000%		5/15/21		BB–		39,900
	55	Turlock Corporation		4.150%		11/02/42		A–		49,346
	145	Total Machinery								140,058
		Media – 2.6%
	20	Cequel Communication Holdings I, 144A		5.125%		12/15/21		B–		18,800
	20	Comcast Corporation		6.400%		5/15/38		A–		23,872
	55	DIRECTV Holdings LLC		5.200%		3/15/20		BBB		59,385
	50	Dish DBS Corporation, 144A		4.250%		4/01/18		BB–		49,000
	25	McGraw-Hill Global Education Holdings, 144A		9.750%		4/01/21		BB		25,563
	30	NBC Universal Media LLC		4.375%		4/01/21		A–		32,361
	35	NBC Universal Media LLC		2.875%		1/15/23		A–		33,244
	20	News America Holdings Inc.		6.650%		11/15/37		BBB+		23,015
	45	SES SA, 144A		3.600%		4/04/23		BBB		43,748
	40	Time Warner Inc.		6.100%		7/15/40		BBB+		43,672
	28	Viacom Inc.		4.375%		3/15/43		BBB+		23,750
	25	Videotron Limited, 144A		5.625%		6/15/25		BB		22,701
	60	Vivendi S.A., 144A		4.750%		4/12/22		BBB		60,010
	453	Total Media								459,121
		Metals & Mining – 4.1%
	105	Alcoa Inc.		5.400%		4/15/21		BBB–		102,208
	25	Anglogold Holdings PLC		6.500%		4/15/40		Baa2		20,677
	85	ArcelorMittal		6.750%		2/25/22		BB+		87,125
	100	Bumi Investment PTE Limited, 144A		10.750%		10/06/17		B–		72,000
	70	Cliffs Natural Resources Inc.		4.800%		10/01/20		BBB–		63,098
	25	Coeur D’Alene Mines Corporation, 144A		7.875%		2/01/21		BB–		24,625
	50	FMG Resources, 144A		6.000%		4/01/17		BB+		48,625
	75	Freeport McMoRan Copper & Gold, Inc.		3.550%		3/01/22		BBB		68,127
	25	IAMGOLD Corporation, 144A		6.750%		10/01/20		BB–		21,125
	45	Inmet Mining Corporation, 144A		8.750%		6/01/20		B+		46,013
	65	Newmont Mining Corporation		3.500%		3/15/22		BBB+		55,623
	20	Taseko Mines Limited		7.750%		4/15/19		B		19,750
	35	Teck Resources Limited		6.250%		7/15/41		BBB		33,158
	25	Vale Overseas Limited		6.875%		11/10/39		A–		25,235
	35	WPE International Cooperatief U.A., 144A		10.375%		9/30/20		B+		27,300
	785	Total Metals & Mining								714,689
		Oil, Gas & Consumable Fuels – 8.4%
	50	Amerada Hess Corporation		7.125%		3/15/33		BBB		58,775
	50	Anadarko Petroleum Corporation		6.200%		3/15/40		BBB–		56,099
	80	Apache Corporation		4.250%		1/15/44		A–		71,377
	30	Athabasca Oil Corporation, 144A		7.500%		11/19/17		B		27,099
	25	Atlas Pipeline LP Finance, 144A		5.875%		8/01/23		B+		23,750
	25	Bill Barrett Corporation		7.000%		10/15/22		B+		25,000
	25	Calumet Specialty Products		9.375%		5/01/19		B		26,750

70 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Oil, Gas & Consumable Fuels (continued)
$	50	Carrizo Oil and Gas Inc.		7.500%		9/15/20		B–	$	52,000
	5	Concho Resources Inc.		5.500%		10/01/22		BB+		4,950
	25	Deep Drilling Company		14.250%		3/05/15		N/R		26,875
	25	Drill Rigs Holdings Inc., 144A		6.500%		10/01/17		B		24,936
	25	Forest Oil Corporation		7.250%		6/15/19		B–		23,500
	200	Gazprom OAO Via Gaz Capital SA, 144A		3.850%		2/06/20		Baa1		186,000
	25	Halcon Resources Limited Liability Corporation, 144A		9.750%		7/15/20		B		24,938
	30	Key Energy Services Inc.		6.750%		3/01/21		BB–		28,800
	20	Kodiak Oil and Gas Corporation		8.125%		12/01/19		B–		21,700
	20	Linn Energy LLC Finance Corporation, 144A		6.250%		11/01/19		B		19,050
	25	Martin Mid-Stream Partners LP Finance, 144A		7.250%		2/15/21		B–		25,125
	25	MEG Energy Corporation, 144A		6.375%		1/30/23		BB		24,250
	25	Niska Gas Storage US LLC		8.875%		3/15/18		B+		25,938
	30	Noble Energy Inc.		4.150%		12/15/21		BBB		30,975
	25	Northern Tier Energy LLC, 144A		7.125%		11/15/20		BB–		25,250
	30	Offshore Group Investment Limited		7.500%		11/01/19		B–		31,275
	20	Paramount Resources Limited, 144A		7.625%		12/04/19		B		19,017
	25	PBF Holding Company LLC		8.250%		2/15/20		BB–		26,188
	25	Petrobras International Finance Company		5.375%		1/27/21		A3		25,117
	50	Petrobras International Finance Company		6.875%		1/20/40		A3		50,474
	25	Sabine Pass LNG LP		7.500%		11/30/16		BB+		26,906
	25	Sandridge Energy Inc.		8.125%		10/15/22		B2		24,750
	200	Sinopec Group Overseas Development 2012, 144A		3.900%		5/17/22		Aa3		194,168
	25	SM Energy Company		6.625%		2/15/19		BB–		26,188
	200	Thai Oil PCL, 144A		3.625%		1/23/23		Baa1		182,467
	50	Western Refining Inc., 144A		6.250%		4/01/21		BB–		48,875
	1,515	Total Oil, Gas & Consumable Fuels								1,488,562
		Paper & Forest Products – 0.5%
	25	Domtar Corporation		4.400%		4/01/22		BBB–		24,242
	30	International Paper Company		8.700%		6/15/38		BBB		40,716
	25	Tembec Industries, Inc.		11.250%		12/15/18		B3		27,000
	80	Total Paper & Forest Products								91,958
		Pharmaceuticals – 0.1%
	25	Valeant Pharmaceuticals International, 144A		6.375%		10/15/20		B1		24,719
		Real Estate Investment Trust – 0.6%
	30	HCP Inc.		3.750%		2/01/19		BBB+		30,784
	15	Prologis Inc.		6.875%		3/15/20		BBB		17,405
	20	Simon Property Group, L.P.		5.650%		2/01/20		A		22,851
	30	Vornado Realty L.P.		4.250%		4/01/15		BBB		31,230
	95	Total Real Estate Investment Trust								102,270
		Real Estate Management & Development – 0.1%
	25	Mattamy Group Corporation, 144A		6.500%		11/15/20		BB		24,499
		Road & Rail – 0.2%
	30	Hertz Corporation		7.375%		1/15/21		B		32,474

Nuveen Investments 71

Portfolio of Investments

Nuveen Global Total Return Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Semiconductors & Equipment – 0.1%
$	25	Freescale Semiconductor Inc., 144A		5.000%		5/15/21		B1	$	23,749
		Specialty Retail – 0.3%
	50	Rite Aid Corporation, 144A, (WI/DD)		6.750%		6/15/21		CCC+		49,125
		Textiles, Apparel & Luxury Goods – 0.1%
	20	Jones Group		6.875%		3/15/19		B+		20,100
		Thrifts & Mortgage Finance – 0.2%
	40	WEA Finance LLC, 144A		4.625%		5/10/21		A2		42,198
		Tobacco – 0.2%
	30	Reynolds American Inc.		3.250%		11/01/22		Baa2		27,888
		Trading Companies & Distributors – 0.3%
	40	International Lease Finance Corporation		4.625%		4/15/21		BBB–		36,800
	25	Russel Metals Inc., 144A		6.000%		4/19/22		Ba1		23,771
	65	Total Trading Companies & Distributors								60,571
		Transportation Infrastructure – 0.2%
	35	Asciano Finance Limited, 144A		5.000%		4/07/18		Baa2		37,182
		Wireless Telecommunication Services – 0.8%
	25	American Tower Company		5.050%		9/01/20		BBB		26,272
	100	VimpelCom Limited/VIP Finance Ireland, 144A		9.125%		4/30/18		BB		113,750
	125	Total Wireless Telecommunication Services								140,022
$	7,061	Total Corporate Bonds (cost $7,209,410)								7,180,141
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CONVERTIBLE BONDS – 0.1%
		Health Care Equipment & Supplies – 0.1%
$	20	Boston Properties Limited Partnership		4.125%		5/15/21		A–	$	20,536
$	20	Total Convertible Bonds (cost $20,363)								20,536
Shares/ Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 3.2%
		Capital Markets – 0.3%
	75	Goldman Sachs Capital II, (3)		4.000%		N/A (4)		BB+	$	59,625
		Commercial Banks – 0.6%
	30	Barclays Bank PLC, (3)		4.750%		N/A (4)		BBB–		28,055
	35	Fifth Third Bancorp., (3)		5.100%		N/A (4)		BB+		33,075
	30	Rabobank Nederland, 144A, (3)		11.000%		N/A (4)		A–		38,475
		Total Commercial Banks								99,605
		Diversified Financial Services – 1.1%
	75	Bank of America Corporation		7.250%		N/A (4)		BB+		83,288
	50	Citigroup Inc., (3)		5.950%		N/A (4)		BB		49,755
	55	JPMorgan Chase & Company, (3)		5.150%		N/A (4)		BBB		52,388
		Total Diversified Financial Services								185,431
		Electric Utilities – 0.5%
	100	Electricite de France, 144A, (3)		5.250%		N/A (4)		A3		95,600

72 Nuveen Investments

Shares/ Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			Insurance – 0.5%
	25		Genworth Financial Inc., (3)		6.150%		11/15/66		Ba1	$	21,688
	50		Prudential Financial Inc., (3)		5.200%		3/15/44		BBB+		47,250
	25		XL Capital Ltd, (3)		6.500%		N/A (4)		BBB–		24,375
			Total Insurance								93,313
			IT Services – 0.2%
	25		Zayo Escrow Corporation, (3)		8.125%		1/1/20		B1		27,124
			Total $1,000 (Par or Similar) Institutional Structures (cost $573,559)								560,698
Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 10.6%
$	86		Banc of America Alternative Loan Trust, Pass-Through Certificates, Series 2006-6		6.000%		7/25/46		Caa3	$	69,945
	100		Countrywide Asset Backed Certificates, Series 2007-4 A2		5.530%		3/25/29		Caa1		93,173
	53		Countrywide Home Loans Mortgage, Series 2005-27		5.500%		1/25/23		Caa1		48,620
	145		Fannie Mae TBA Mortgage Pool, (WI/DD)		4.500%		TBA		Aaa		153,428
	680		Fannie Mae TBA Mortgage Pool, (WI/DD)		4.000%		TBA		Aaa		708,395
	535		Fannie Mae TBA Mortgage Pool, (WI/DD)		3.500%		TBA		Aaa		543,108
	250		Holmes Master Issuer PLC, Residential Mortgage Pool, Series 2012-1A, 144A		1.927%		10/15/54		AAA		254,340
$	1,849		Total Asset-Backed and Mortgage-Backed Securities (cost $1,892,795)								1,871,009
Principal Amount (000) (5)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			SOVEREIGN DEBT – 39.7%
			Argentina – 0.4%
	100		Republic of Argentina		8.750%		6/02/17		B	$	75,750
			Bermuda – 0.6%
	100		Bermuda Government, 144A		5.603%		7/20/20		AA–		108,500
			Canada – 0.9%
	150	CAD	Province of Ontario, Canada Municipal Bond		4.200%		3/08/18		Aa2		154,710
			Indonesia – 0.6%
	100		Republic of Indonesia, 144A		5.875%		3/13/20		Baa3		108,250
			Ireland – 1.9%
	100	EUR	Irish Republic Treasury Bond		5.500%		10/18/17		BBB+		143,897
	125	EUR	Irish Republic Treasury Bond		5.900%		10/18/19		BBB+		183,184
	225	EUR	Total Ireland								327,081
			Italy – 2.1%
	150	EUR	Buoni Poliennali del Tesoro, Italian Treasury Bond		4.750%		6/01/17		BBB+		206,092
	115	EUR	Buoni Poliennali del Tesoro, Italian Treasury Bond		5.500%		11/01/22		BBB+		160,606
	265	EUR	Total Italy								366,698
			Mexico – 11.2%
	20	MXN	Mexico Bonos de DeSarrollo		8.000%		12/17/15		A–		166,913
	50	MXN	Mexico Bonos de DeSarrollo		6.250%		6/16/16		A–		404,598
	36	MXN	Mexico Bonos de DeSarrollo		5.000%		6/15/17		A–		278,220
	54	MXN	Mexico Bonos de DeSarrollo		8.000%		12/07/23		A–		479,703

Nuveen Investments 73

Portfolio of Investments

Nuveen Global Total Return Bond Fund (continued)

June 30, 2013

Principal Amount (000) (5)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			Mexico (continued)
	38	MXN	Mexico Bonos de DeSarrollo		7.750%		11/13/42		A–	$	317,930
	40	MXN	United Mexican States		9.500%		12/18/14		A–		331,734
	238	MXN	Total Mexico								1,979,098
			Norway – 2.4%
	2,300	NOK	Norwegian Government Bond		3.750%		5/25/21		AAA		416,710
			Poland – 1.7%
	850	PLN	Poland Government Bond		2.500%		7/25/18		A		241,183
	50		Republic of Poland		5.000%		3/23/22		A2		53,750
			Total Poland								294,933
			Portugal – 1.2%
	175	EUR	Portugal Obrigacoes do Tesouro		5.650%		2/15/24		BB		211,865
			Russian Federation – 1.2%
	200		Russian Federation, 144A		4.500%		4/04/22		Baa1		204,275
			South Africa – 2.6%
	2,800	ZAR	Republic of South Africa		7.250%		1/15/20		A–		281,730
	1,500	ZAR	Republic of South Africa		10.500%		12/21/26		A–		183,941
	4,300	ZAR	Total South Africa								465,671
			Sweden – 1.9%
	2,000	SEK	Republic of Sweden		3.500%		6/01/22		AAA		331,909
			Turkey – 6.4%
	1,000	TRY	Republic of Turkey, Government Bond		9.000%		3/08/17		BBB		535,333
	385	TRY	Republic of Turkey, Government Bond		10.500%		1/15/20		BBB		221,973
	430	TRY	Republic of Turkey, Government Bond		7.100%		3/08/23		BBB		205,112
	200	TRY	Republic of Turkey, Government Bond		4.875%		4/16/43		BBB–		172,000
	2,015	TRY	Total Turkey								1,134,418
			Ukraine – 0.5%
	100		Republic of Ukraine, 144A		7.750%		9/23/20		B		91,251
			United Kingdom – 4.1%
	200	GBP	United Kingdom Gilt		1.250%		7/22/18		AA+		301,317
	250	GBP	United Kingdom, Treasury Bill		3.750%		9/07/19		AAA		426,783
	450	GBP	Total United Kingdom								728,100
			Total Sovereign Debt (cost $7,377,612)								6,999,219
Principal Amount (000)			Description (1)	Coupon		Maturity				Value
			SHORT-TERM INVESTMENTS – 15.1%
			Repurchase Agreements – 15.1%
$	2,660		Repurchase Agreement with State Street Bank, dated 6/28/13, repurchase price $2,660,293, collateralized by $2,760,000 U.S. Treasury Notes, 0.625%, due 5/31/17, value $2,716,039		0.010%		7/01/13			$	2,660,291
			Total Short-Term Investments (cost $2,660,291)								2,660,291
			Total Investments (cost $20,013,711) – 111.1%								19,589,210
			Other Assets Less Liabilities – (11.1)% (6)								(1,952,313)
			Net Assets – 100%							$	17,636,897

74 Nuveen Investments

Investments in Derivatives as of June 30, 2013
Forward Foreign Currency Exchange Contracts outstanding:
Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation) (U.S. Dollars) (6)
Bank of America	Brazilian Real		1,994,000		U.S. Dollar		900,592		7/02/13	$	7,831
Bank of America	U.S. Dollar		899,982		Brazilian Real		1,994,000		7/02/13		(7,221	)
Bank of America	U.S. Dollar		895,254		Brazilian Real		1,994,000		8/02/13		(8,684	)
Barclays Bank PLC	Euro		680,000		U.S. Dollar		880,144		7/15/13		(5,033	)
Barclays Bank PLC	Euro		900,000		U.S. Dollar		1,191,807		7/15/13		20,248
Barclays Bank PLC	Polish Zloty		1,700,000		U.S. Dollar		531,200		7/12/13		20,031
Barclays Bank PLC	Polish Zloty		825,000		U.S. Dollar		246,533		8/30/13		(751	)
Barclays Bank PLC	Swiss Franc		850,000		U.S. Dollar		890,547		7/15/13		(9,466	)
Barclays Bank PLC	U.S. Dollar		539,391		Polish Zloty		1,700,000		7/12/13		(28,222	)
Barclays Bank PLC	U.S. Dollar		1,428,715		Euro		1,098,623		7/15/13		1,397
Barclays Bank PLC	U.S. Dollar		884,532		Swiss Franc		850,000		7/15/13		15,481
Barclays Bank PLC	U.S. Dollar		807,060		New Zealand Dollar		1,000,000		7/17/13		(33,199	)
BNP Paribas	Australian Dollar		200,000		U.S. Dollar		191,133		7/15/13		8,458
BNP Paribas	Australian Dollar		740,000		U.S. Dollar		700,921		7/15/13		25,024
BNP Paribas	Euro		700,000		U.S. Dollar		929,775		8/09/13		18,456
BNP Paribas	Euro		900,000		U.S. Dollar		1,197,405		8/09/13		25,708
BNP Paribas	U.S. Dollar		111,245		Australian Dollar		118,000		7/15/13		(3,467	)
BNP Paribas	U.S. Dollar		302,904		Australian Dollar		322,000		7/15/13		(8,798	)
BNP Paribas	U.S. Dollar		497,769		Australian Dollar		500,000		7/15/13		(41,082	)
BNP Paribas	U.S. Dollar		1,696,739		Euro		1,300,000		8/09/13		(4,289	)
Citigroup	Brazilian Real		194,000		U.S. Dollar		87,561		7/02/13		702
Citigroup	Brazilian Real		1,800,000		U.S. Dollar		812,421		7/02/13		6,519
Citigroup	British Pound Sterling		60,000		U.S. Dollar		93,842		8/19/13		2,618
Citigroup	British Pound Sterling		500,000		U.S. Dollar		781,875		8/19/13		21,672
Citigroup	Swedish Krona		2,300,000		U.S. Dollar		348,620		7/17/13		5,806
Citigroup	U.S. Dollar		89,274		Brazilian Real		194,000		7/02/13		(2,415	)
Citigroup	U.S. Dollar		873,999		Brazilian Real		1,800,000		7/02/13		(68,096	)
Citigroup	U.S. Dollar		864,606		British Pound Sterling		560,000		8/19/13		(13,179	)
Credit Suisse	U.S. Dollar		475,867		Indian Rupee		28,000,000		7/17/13		(6,338	)
Credit Suisse	U.S. Dollar		147,178		Indian Rupee		8,700,000		7/17/13		(1,289	)
Credit Suisse	U.S. Dollar		475,826		Norwegian Krone		2,800,000		8/05/13		(15,498	)
JPMorgan	Indian Rupee		45,000,000		U.S. Dollar		746,888		7/10/13		(8,686	)
JPMorgan	Japanese Yen		76,000,000		U.S. Dollar		807,258		7/16/13		40,925
JPMorgan	Japanese Yen		79,000,000		U.S. Dollar		833,900		7/16/13		37,317
JPMorgan	Mexican Peso		2,250,000		U.S. Dollar		174,761		7/08/13		1,273
JPMorgan	Mexican Peso		4,280,000		U.S. Dollar		351,843		7/08/13		21,831
JPMorgan	Mexican Peso		230,000		U.S. Dollar		17,579		9/09/13		(54	)
JPMorgan	Polish Zloty		1,900,000		U.S. Dollar		592,025		7/12/13		20,718
JPMorgan	South African Rand		1,400,000		U.S. Dollar		139,660		7/10/13		(1,718	)
JPMorgan	South African Rand		500,000		U.S. Dollar		49,699		9/10/13		(330	)
JPMorgan	U.S. Dollar		17,677		Mexican Peso		230,000		7/08/13		57
JPMorgan	U.S. Dollar		61,972		Mexican Peso		800,000		7/08/13		(287	)
JPMorgan	U.S. Dollar		188,989		Mexican Peso		2,500,000		7/08/13		3,775
JPMorgan	U.S. Dollar		234,169		Mexican Peso		3,000,000		7/08/13		(2,851	)
JPMorgan	U.S. Dollar		790,653		Indian Rupee		45,000,000		7/10/13		(35,079	)
JPMorgan	U.S. Dollar		50,134		South African Rand		500,000		7/10/13		358
JPMorgan	U.S. Dollar		90,842		South African Rand		900,000		7/10/13		43
JPMorgan	U.S. Dollar		602,543		Polish Zloty		1,900,000		7/12/13		(31,237	)
JPMorgan	U.S. Dollar		1,616,304		Japanese Yen		155,000,000		7/16/13		(53,389	)
JPMorgan	U.S. Dollar		741,717		Indian Rupee		45,000,000		8/14/13		9,061
JPMorgan	U.S. Dollar		99,936		Turkish Lira		190,000		8/16/13		(2,204	)
JPMorgan	U.S. Dollar		232,570		Turkish Lira		440,000		8/16/13		(6,242	)
JPMorgan	U.S. Dollar		891,101		New Zealand Dollar		1,155,000		8/30/13		(198	)
Morgan Stanley	British Pound Sterling		200,000		U.S. Dollar		304,426		8/05/13		316
Morgan Stanley	British Pound Sterling		884,000		U.S. Dollar		1,338,898		8/05/13		(5,270	)
Morgan Stanley	U.S. Dollar		902,517		British Pound Sterling		590,000		8/05/13		(5,392	)

Nuveen Investments 75

Portfolio of Investments

Nuveen Global Total Return Bond Fund (continued)

June 30, 2013

Investments in Derivatives as of June 30, 2013 (continued)
Forward Foreign Currency Exchange Contracts outstanding (continued):
Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation) (U.S. Dollars) (6)
Morgan Stanley	U.S. Dollar		130,614		Canadian Dollar		137,223		8/30/13	$	(341	)
Morgan Stanley	U.S. Dollar		152,444		Canadian Dollar		160,000		8/30/13		(547	)
Nomura Securities	Indian Rupee		18,500,000		U.S. Dollar		307,309		7/05/13		(3,602	)
Nomura Securities	Japanese Yen		6,800,000		U.S. Dollar		71,414		7/17/13		2,847
Nomura Securities	Japanese Yen		78,500,000		U.S. Dollar		824,400		7/17/13		32,856
Nomura Securities	Singapore Dollar		1,100,000		U.S. Dollar		887,836		7/15/13		19,950
Nomura Securities	U.S. Dollar		323,880		Indian Rupee		18,500,000		7/05/13		(12,968	)
Nomura Securities	U.S. Dollar		879,328		Singapore Dollar		1,100,000		7/15/13		(11,443	)
Nomura Securities	U.S. Dollar		876,713		Japanese Yen		85,300,000		7/17/13		(16,602	)
Nomura Securities	U.S. Dollar		305,381		Indian Rupee		18,500,000		8/05/13		3,771
										$	(80,418	)

Credit Default Swaps outstanding:

Counterparty	Reference Entity	Buy/Sell Protection (7)		Current Credit Spread (8)			Notional Amount		Fixed Rate (Annualized)			Termination Date		Value		Unrealized Appreciation (Depreciation)
Citigroup	Markit CDX NA HY20 Index		Sell		4.32	%	$	200,000		5.000	%		6/20/18	$	6,359	$	(2,162	)
JPMorgan	Markit CDX NA HY20 Index		Sell		4.32			400,000		5.000			6/20/18		12,719		66
							$	600,000								$	(2,096	)

Interest Rate Swaps outstanding:

Counterparty	Notional Amount		Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Termination Date		Unrealized Appreciation (Depreciation) (6)
JPMorgan	$	200,000		Receive		3-Month USD-LIBOR-BBA		2.708	%		Semi-Annually		2/19/23	$	8,412
Morgan Stanley		1,000,000		Receive		3-Month USD-LIBOR-BBA		2.095			Semi-Annually		3/19/23		43,131
	$	1,200,000												$	51,543

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value*			Unrealized Appreciation (Depreciation)
Euro-Bund		Long		6			9/13	$	1,105,251		$	(11,558	)
Long Gilt		Long		3			9/13		510,586			(1,420	)
U.S. Treasury 5-Year Note		Long		5			9/13		605,234			(5,635	)
U.S. Treasury 10-Year Note		Long		3			9/13		379,687			415
U.S. Treasury Long Bond		Short		(11	)		9/13		(1,494,281	)		50,625
U.S. Treasury Ultra Bond		Short		(4	)		9/13		(589,250	)		21,635
								$	517,227		$	54,062

* Total Notional Amount at Value of Long and Short positions were $2,600,758 and $(2,083,531), respectively.

Call Options Purchased outstanding:

Counterparty	Put Notional Amount		Call Notional Amount (9)		Expiration Date		Strike Price		Value (6)
Credit Suisse		1,000,000 USD		1,025,000,000 KRW		7/11/13	$	1,025 KRW	$	—
Total Call Options Purchased (premiums paid $4,270)									$	—

76 Nuveen Investments

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	For fair value measurement disclosure purposes, $1,000 Par (or similar) Institutional Structures as Level 2. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
(4)	Perpetual security. Maturity date is not applicable.
(5)	Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted.
(6)	Other Assets Less Liabilities includes the Value or Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.
(7)	The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.
(8)	The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.
(9)	For disclosure purposes, Call Notional Amount is calculated by multiplying the Put Notional Amount by the Strike Price.
N/A	Not applicable.
N/R	Not rated.
TBA	To be announced. Maturity date not known prior to settlement of this transaction.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis
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.
CAD	Canadian Dollar
EUR	Euro
GBP	British Pounds
KRW	South Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
PLN	Polish Zloty
SEK	Swedish Krona
TRY	Turkey Lira
USD	United States Dollar
ZAR	South African Rand
USD-LIBOR-BBA	United States Dollar–London Inter-Bank Offered Rate British Bankers’ Association.

See accompanying notes to financial statements.

Nuveen Investments 77

Portfolio of Investments

Nuveen High Income Bond Fund

June 30, 2013

Shares		Description (1)							Value
		COMMON STOCKS – 1.3%
		Airlines – 0.1%
	56,200	Delta Air Lines, Inc., (2)							$	1,051,502
		Building Products – 0.0%
	526	Dayton Superior, Class A, (2), (3)								30,195
	585	Dayton Superior, Class 1, (2), (3)								33,550
		Total Building Products								63,745
		Capital Markets – 0.1%
	64,000	Och-Ziff Capital Management Group, Class A Shares, (4)								668,160
		Diversified Financial Services – 0.0%
	39,309	China Private Equity Investment Holdings Ltd., (3)								393
		Chemicals – 0.1%
	13,000	LyondellBasell Industries NV								861,380
		Containers & Packaging – 0.1%
	11,200	Packaging Corp. of America								548,352
		Metals & Mining – 0.1%
	21,200	Freeport-McMoRan Copper & Gold, Inc.								585,332
		Oil, Gas & Consumable Fuels – 0.1%
	13,500	Pembina Pipeline Corporation								413,370
	82,000	Pengrowth Energy Corporation								404,260
		Total Oil, Gas & Consumable Fuels								817,630
		Real Estate Investment Trust – 0.7%
	38,200	Colony Financial Inc.								759,798
	54,000	Kite Realty Group Trust								1,390,500
	20,400	Mid-America Apartment Communities, (4)								1,382,508
	40,000	Summit Hotel Properties Inc.								1,060,000
		Total Real Estate Investment Trust								4,592,806
		Total Common Stocks (cost $8,807,090)								9,189,300
Shares		Description (1)	Coupon				Ratings (5)		Value
		CONVERTIBLE PREFERRED SECURITIES – 0.2%
		Electric Utilities – 0.2%
	30,000	NextEra Energy Inc.		5.889%				BBB	$	1,666,200
		Total Convertible Preferred Securities (cost $1,455,000)								1,666,200
Principal Amount (000)		Description (1)	Coupon		Maturity (6)		Ratings (5)		Value
		VARIABLE RATE SENIOR LOAN INTERESTS – 0.3% (7)
		Hotels, Restaurants & Leisure – 0.3%
$	2,000	Caesars Entertainment Corporation, Term Loan B5, (WI/DD)		TBD		TBD		B–	$	1,727,600
$	2,000	Total Variable Rate Senior Loan Interests (cost $1,735,000)								1,727,600
Shares		Description (1)	Coupon				Ratings (5)		Value
		$25 PAR (OR SIMILAR) RETAIL STRUCTURES – 6.5%
		Capital Markets – 1.0%
	122,330	Morgan Stanley, Series 2006A		4.000%				BB+	$	2,623,979
	60,000	Saratoga Investment Corporation, (8)		7.500%				N/R		1,488,600

78 Nuveen Investments

Shares		Description (1)	Coupon		Ratings (5)		Value
		Capital Markets (continued)
	169,434	UBS Preferred Funding Trust IV		0.893%		BBB–	$	2,826,159
		Total Capital Markets						6,938,738
		Commercial Banks – 0.3%
	65,000	Regions Financial Corporation, (4)		6.375%		BB		1,592,500
	35,000	Royal Bank of Scotland Group PLC		6.750%		BB		780,850
		Total Commercial Banks						2,373,350
		Consumer Finance – 0.4%
	50,000	Ally Financial Inc.		8.500%		CCC+		1,293,000
	50,000	Discover Financial Services		6.500%		BB		1,255,000
		Total Consumer Finance						2,548,000
		Diversified Financial Services – 0.6%
	82,830	Bank of America Corporation, (4)		4.000%		BB+		1,852,907
	111,079	RBS Capital Trust		6.080%		BB+		2,363,761
		Total Diversified Financial Services						4,216,668
		Household Durables – 0.1%
	55,624	Hovnanian Enterprises Incorporated, (2), (4)		7.625%		Ca		1,006,238
		Insurance – 0.5%
	80,000	Aspen Insurance Holdings Limited		5.950%		BBB–		2,040,000
	51,131	Endurance Specialty Holdings Limited		7.500%		BBB–		1,373,379
		Total Insurance						3,413,379
		Marine – 0.1%
	29,338	Seaspan Corporation		9.500%		N/R		790,366
		Metals & Mining – 0.2%
	70,300	ArcelorMittal		6.000%		BB–		1,319,531
		Oil, Gas & Consumable Fuels – 0.5%
	100,000	Nustar Logistics Limited Partnership		7.625%		Ba2		2,620,000
	50,000	Teekay Offshore Partners LP		7.250%		N/R		1,265,000
		Total Oil, Gas & Consumable Fuels						3,885,000
		Real Estate Investment Trust – 2.5%
	51,900	Ashford Hospitality Trust Inc.		8.450%		N/R		1,312,032
	40,000	CommonWealth REIT, (4)		7.250%		Ba1		1,004,000
	75,000	Coresite Realty Corporation		7.250%		N/R		1,908,750
	50,000	Corporate Office Properties Trust		7.375%		BB		1,282,500
	65,000	Dupont Fabros Technology		7.875%		Ba2		1,667,250
	22,024	First Potomac Realty Trust		7.750%		N/R		580,993
	70,000	General Growth Properties		6.375%		B		1,622,600
	41,677	Hersha Hospitality Trust, (8)		8.000%		N/R		1,065,264
	70,000	LaSalle Hotel Properties		7.500%		N/R		1,820,000
	50,000	Pebblebrook Hotel Trust		7.875%		N/R		1,292,000
	40,500	Pebblebrook Hotel Trust		6.500%		N/R		978,075
	40,000	Retail Properties of America		7.000%		N/R		997,200
	75,000	Summit Hotel Properties Inc.		7.125%		N/R		1,818,750
		Total Real Estate Investment Trust						17,349,414
		Specialty Retail – 0.3%
	88,000	TravelCenters of America LLC		8.250%		N/R		2,305,599
		Total $25 Par (or similar) Retail Structures (cost $44,236,009)						46,146,283

Nuveen Investments 79

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		CORPORATE BONDS – 80.6%
		Aerospace & Defense – 0.5%
$	1,500	DynCorp International Inc., (4)		10.375%		7/01/17		B2	$	1,507,500
	2,050	Erickson Air-Crane Inc., 144A, (4)		8.250%		5/01/20		B1		1,993,625
	3,550	Total Aerospace & Defense								3,501,125
		Airlines – 0.8%
	3,810	Delta Air Lines Pass-Through Certificates, Series 2012-1B, (4)		6.875%		5/07/19		BB+		4,019,416
	1,750	United Continental Holdings Inc., (4)		6.375%		6/01/18		B		1,719,375
	5,560	Total Airlines								5,738,791
		Auto Components – 1.2%
	2,350	Ahern Rentals Inc., 144A, (4)		9.500%		6/15/18		B		2,344,125
	800	American & Axle Manufacturing Inc., (4)		6.250%		3/15/21		B		813,000
	2,500	Cooper Standard Holding Inc.		7.375%		4/01/18		B		2,481,250
	3,100	Gestamp Fund Lux SA, 144A		5.625%		5/31/20		BB		2,945,000
	8,750	Total Auto Components								8,583,375
		Automobiles – 1.1%
	3,000	DriveTime Automotive Group Inc, DT Acceptance Corporation, 144A		12.625%		6/15/17		B3		3,210,000
	900	Fiat Finance & Trade SA		7.000%		3/23/17		BB–		1,238,862
	2,750	Jaguar Land Rover PLC, 144A		8.125%		5/15/21		BB–		3,025,000
	6,650	Total Automobiles								7,473,862
		Building Products – 0.8%
	2,150	Associated Asphalt Partners Limited Liability Corporation, 144A		8.500%		2/15/18		B		2,160,750
	3,000	Builders FirstSource Inc., 144A		7.625%		6/01/21		B–		2,902,500
	957	Corporativo Javer S.A. de C.V, 144A, (4)		9.875%		4/06/21		B+		870,870
	6,107	Total Building Products								5,934,120
		Capital Markets – 0.7%
	2,250	Ace Cash Express Inc., 144A		11.000%		2/01/19		B		2,160,000
	3,000	E Trade Financial Corporation		6.375%		11/15/19		B2		3,045,000
	5,250	Total Capital Markets								5,205,000
		Chemicals – 2.6%
	2,250	Cornerstone Chemical Company, 144A		9.375%		3/15/18		B–		2,362,500
	3,250	Hexion US Finance Corporation, (4)		8.875%		2/01/18		B3		3,315,000
	2,750	Ineos Group Holdings PLC, 144A, (4)		6.125%		8/15/18		B–		2,626,250
	2,775	Momentive Performance Materials Inc.		8.875%		10/15/20		B1		2,899,875
	3,300	Nufarm Australia Limited, 144A		6.375%		10/15/19		BB–		3,291,750
	2,445	Omonva Solutions Inc.		7.875%		11/01/18		B2		2,542,800
	1,190	Petrologisitics LP Finance, 144A		6.250%		4/01/20		B		1,166,200
	17,960	Total Chemicals								18,204,375
		Commercial Banks – 1.8%
	1,050	Gazprombank Eurobond Finance PLC		7.875%		4/29/49		N/R		1,050,000
	2,000	Promsvyazbank Finance, 144A		6.200%		4/25/14		Ba2		2,025,330
	2,000	Russian Standard Bank ZAO Finance SA		10.750%		4/10/18		B1		2,100,000
	1,500	Speedy Cash Inc, 144A, (4)		10.750%		5/15/18		B		1,567,500
	2,000	UT2 Funding PLC		5.321%		6/30/16		B+		3,149,975
	1,000	VTB Bank Capital SA, 144A		6.000%		4/12/17		BBB+		1,040,000
	1,400	VTB Capital SA, 144A		6.875%		5/29/18		Baa1		1,484,000
	10,950	Total Commercial Banks								12,416,805

80 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Commercial Services & Supplies – 2.7%
$	1,750	313 Group Incorporated, 144A		6.375%		12/01/19		B1	$	1,662,500
	2,125	Casella Waste Systems Inc.		7.750%		2/15/19		Caa1		2,018,750
	2,000	CCS Incorporated, 144A, (4)		11.000%		11/15/15		CCC		2,010,000
	3,140	Europcar Groupe SA, 144A		11.500%		5/15/17		B–		4,536,745
	2,000	GDR Holding II Corporation, 144A		10.750%		6/01/19		B		2,140,000
	2,800	R.R. Donnelley & Sons Company, (4)		8.250%		3/15/19		BB		2,940,000
	1,450	RSC Equipment Rental		8.250%		2/01/21		B+		1,587,750
	2,000	Square Two Financial Corporation, (4)		11.625%		4/01/17		B		2,050,000
	17,265	Total Commercial Services & Supplies								18,945,745
		Communications Equipment – 1.7%
	2,000	Avaya Inc., 144A, (4)		9.000%		4/01/19		B1		1,920,000
	2,000	Broadview Networks Holdings Inc.		10.500%		11/15/17		N/R		1,990,000
	2,730	Goodman Networks Inc., 144A, (4)		12.125%		7/01/18		B		2,893,800
	2,875	IntelSat Jackson Holdings, 144A		6.625%		12/15/22		CCC+		2,788,750
	2,800	Nokia Corporation, (4)		6.625%		5/15/39		BB–		2,527,000
	12,405	Total Communications Equipment								12,119,550
		Computers & Peripherals – 0.1%
	1,000	Hutchinson Technology Inc.		8.500%		1/15/17		N/R		930,000
		Construction & Engineering – 0.4%
	2,565	Wyle Services Corporation, 144A		10.500%		4/01/18		CCC+		2,616,300
		Construction Materials – 0.5%
	1,400	Cemex Finance LLC, 144A		9.500%		12/14/16		B+		1,480,500
	2,000	Cemex SAB de CV, 144A		9.000%		1/11/18		B+		2,100,000
	3,400	Total Construction Materials								3,580,500
		Consumer Finance – 0.4%
	2,500	Home Credit & Finance Bank LLC Eurasia Capital		9.375%		4/24/20		BB–		2,537,500
		Containers & Packaging – 1.5%
	2,500	Ardagh Packaging Finance / MP HD USA, 144A, (4)		7.000%		11/15/20		B3		2,409,375
	2,700	Ardagh Packaging Finance / MP HD USA, 144A		4.875%		11/15/22		Ba3		2,524,500
	2,000	Ardagh Packaging Finance PLC, 144A		9.125%		10/15/20		B3		2,132,500
	3,800	Reynolds Group, (4)		8.500%		5/15/18		CCC+		3,914,000
	11,000	Total Containers & Packaging								10,980,375
		Distributors – 0.2%
	1,250	HD Supply Inc.		11.000%		4/15/20		B3		1,456,250
		Diversified Consumer Services – 0.5%
	3,500	NES Rental Holdings Inc., 144A		7.875%		5/01/18		CCC+		3,456,250
		Diversified Financial Services – 2.5%
	1,750	CNG Holdings Inc., 144A		9.375%		5/15/20		B		1,680,000
	1,825	Community Choice Financial Inc., (4)		10.750%		5/01/19		B–		1,747,438
	3,000	Jefferies Finance LLC, 144A		7.375%		4/01/20		B+		2,910,000
	2,500	Jefferies Loancore Finance, 144A		6.875%		6/01/20		B		2,425,000
	4,110	Nationstar Mortgage LLC Capital Corporation		7.875%		10/01/20		B+		4,356,600
	1,815	SinOceanic II ASA, 144A		10.000%		2/17/15		N/R		1,850,855
	2,800	UPCB Finance Limited, 144A		6.625%		7/01/20		BB		2,898,000
	17,800	Total Diversified Financial Services								17,867,893

Nuveen Investments 81

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Diversified Telecommunication Services – 2.6%
$	4,750	CenturyLink Inc.		7.650%		3/15/42		BB+	$	4,512,500
	2,000	Citizens Communications Company		9.000%		8/15/31		BB+		1,980,000
	1,500	CyrusOne LP Finance, 144A		6.375%		11/15/22		B+		1,537,500
	2,982	Eileme AB		14.250%		8/15/20		B–		3,279,994
	2,000	Frontier Communications Corporation, (4)		7.125%		1/15/23		BB+		1,990,000
	1,300	IntelSat Limited, 144A		6.750%		6/01/18		CCC+		1,309,750
	3,600	Sprint Capital Corporation		8.750%		3/15/32		B+		3,960,000
	18,132	Total Diversified Telecommunication Services								18,569,744
		Electric Utilities – 1.6%
	2,000	Edison Mission Energy, (10)		7.000%		5/15/17		D		1,122,500
	4,000	Energy Future Intermediate Holding Company LLC, (4)		11.250%		12/01/18		B3		3,380,000
	2,450	Energy Future Intermediate Holding Company LLC		10.000%		12/01/20		B2		2,682,750
	2,100	Intergen NV, 144A		7.000%		6/30/23		B+		2,047,500
	1,850	Mirant Americas Generation LLC		9.125%		5/01/31		BB–		1,979,500
	12,400	Total Electric Utilities								11,212,250
		Energy Equipment & Services – 2.7%
	1,915	Gulfmark Offshore Inc., 144A		6.375%		3/15/22		BB–		1,900,638
	2,000	Marine Accurate Well ASA		9.500%		4/03/18		N/R		2,035,000
	1,500	Origin Energy Finance Limited		7.875%		6/16/71		BB+		2,013,967
	3,075	Pacific Drilling SA, 144A		5.375%		6/01/20		B+		2,875,125
	1,000	Pacific Drilling SA		8.250%		2/23/15		N/R		1,040,000
	2,175	Precision Drilling Corporation		6.500%		12/15/21		Ba1		2,202,188
	2,200	Santa Maria Offshore Limited, (WI/DD)		8.875%		7/03/18		N/R		2,200,154
	3,500	Seadrill Limited, 144A		5.625%		9/15/17		N/R		3,447,500
	1,300	TrollDrilling & Services Limited		13.750%		8/19/16		N/R		1,338,987
	18,665	Total Energy Equipment & Services								19,053,559
		Food & Staples Retailing – 0.8%
	1,000	Harmony Foods Corporation, 144A		10.000%		5/01/16		B–		1,052,500
	1,825	Ingles Markets Inc., 144A, (4)		5.750%		6/15/23		BB–		1,802,188
	3,200	Supervalu Inc., 144A, (4)		6.750%		6/01/21		B–		2,976,000
	6,025	Total Food & Staples Retailing								5,830,688
		Food Products – 2.5%
	3,000	B&G Foods Inc., (4)		4.625%		6/01/21		B+		2,865,000
	3,095	Fage Dairy Industry SA, 144A		9.875%		2/01/20		B		3,334,863
	2,800	JBS USA LLC, (4)		7.250%		6/01/21		BB		2,800,000
	3,000	Land O Lakes Capital Trust I, (4)		7.450%		3/15/28		BB		2,940,000
	2,000	Marfrig Holding Europe BV, 144A		8.375%		5/09/18		B		1,880,000
	1,000	Michael Foods Inc., 144A		8.500%		7/15/18		CCC+		1,030,000
	1,450	Minerva Luxembourg SA, 144A		7.750%		1/31/23		BB–		1,442,750
	1,800	Mriya Agro Holding PLC, 144A		9.450%		4/19/18		B		1,602,000
	18,145	Total Food Products								17,894,613
		Gas Utilities – 0.2%
	1,510	LBC Tank Terminals Holdings Netherlands BV, 144A		6.875%		5/15/23		B		1,513,775

82 Nuveen Investments

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (5)		Value
			Health Care Equipment & Supplies – 0.4%
$	500		Alere Inc., 144A, (4)		6.500%		6/15/20		CCC+	$	485,000
	925		Community Health Systems, Inc.		7.125%		7/15/20		B		952,750
	1,250		Labco SAS, Reg S		8.500%		1/15/18		BB–		1,696,203
	2,675		Total Health Care Equipment & Supplies								3,133,953
			Health Care Providers & Services – 2.1%
	1,250		HCA Holdings Inc.		6.250%		2/15/21		B–		1,275,000
	2,210		Kindred Healthcare Inc.		8.250%		6/01/19		B–		2,265,250
	1,240		Labco SAS, 144A		8.500%		1/15/18		BB–		1,682,633
	2,725		National Mentor Holdings, 144A		12.500%		2/15/18		CCC+		2,915,750
	3,000		Select Medical Corporation, 144A		6.375%		6/01/21		B–		2,850,000
	—	(9)	Symbion Inc.		11.000%		8/23/15		CCC+		489
	1,800		Tenet Healthcare Corporation		6.875%		11/15/31		B3		1,548,000
	2,000		United Surgical Partners International Incorporated		9.000%		4/01/20		CCC+		2,160,000
	14,225		Total Health Care Providers & Services								14,697,122
			Hotels, Restaurants & Leisure – 2.4%
	1,000		Fontainebleau Las Vegas		10.250%		6/15/15		N/R		625
	2,175		Graton Economic Development Authority, 144A		9.625%		9/01/19		B		2,381,625
	30		Greektown LLC, (3)		10.750%		12/01/13		N/R		—
	2,000		Harrah’s Operating Company, Inc., (4)		10.750%		2/01/16		CCC–		1,645,000
	3,500		Mohegan Tribal Gaming Authority, 144A, (4)		11.000%		9/15/18		CCC		3,290,000
	23		Rivers Pittsburgh Borrowers LP, Finance Corporation, 144A		9.500%		6/15/19		B		24,840
	2,750		Shearer’s Foods LLC, 144A		9.000%		11/01/19		B		2,908,125
	2,540		Station Casinos LLC, 144A, (4)		7.500%		3/01/21		CCC+		2,565,400
	2,225		Viking Cruises Limited, 144A		8.500%		10/15/22		B+		2,436,375
	1,800		Wynn Las Vegas LLC Corporation		5.375%		3/15/22		BBB–		1,818,000
	18,043		Total Hotels, Restaurants & Leisure								17,069,990
			Household Durables – 0.7%
	3,000		Brookfield Residential Properties Inc., 144A		6.500%		12/15/20		BB–		3,022,500
	2,000		K. Hovnanian Enterprises Inc., (4)		5.000%		11/01/21		B3		1,800,000
	5,000		Total Household Durables								4,822,500
			Household Products – 0.6%
	1,500		313 Group Incorporated, 144A		8.750%		12/01/20		CCC+		1,428,750
	3,000		Dispensing Dynamics International, 144A		12.500%		1/01/18		B–		3,030,000
	4,500		Total Household Products								4,458,750
			Independent Power Producers & Energy Traders – 1.3%
	1,650		Calpine Corporation, 144A, (4)		7.500%		2/15/21		BB+		1,761,375
	1,850		Dynegy Holdings, Inc.		5.875%		6/01/23		B+		1,683,500
	2,800		Foresight Energy Limited Liability Corporation, 144A		9.625%		8/15/17		B		2,940,000
	2,600		Mirant Americas Generation LLC, (4)		8.500%		10/01/21		BB–		2,795,000
	8,900		Total Independent Power Producers & Energy Traders								9,179,875
			Industrial Conglomerates – 0.8%
	1,250		Abengoa Finance SAU, 144A, (4)		8.875%		11/01/17		B+		1,162,500
	11,000		Grieg Seafood ASA		8.760%		12/21/15		N/R		1,829,002
	3,000		OAS Financial Limited, 144A		8.875%		7/25/63		BB–		2,865,000
	15,250		Total Industrial Conglomerates								5,856,502

Nuveen Investments 83

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Insurance – 0.3%
$	2,000	Compass Investors Incorporated, 144A		7.750%		1/15/21		CCC	$	1,970,000
		IT Services – 1.1%
	2,065	First Data Corporation, (4)		6.750%		11/01/20		BB–		2,101,138
	3,550	First Data Corporation, (4)		12.625%		1/15/21		B–		3,754,125
	2,000	First Data Corporation		8.750%		1/15/22		B–		2,055,000
	7,615	Total IT Services								7,910,263
		Leisure Equipment & Products – 0.5%
	2,000	Cinemark USA Inc., 144A, (4)		4.875%		6/01/23		BB–		1,920,000
	1,500	Seminole Hard Rock Entertainment, Inc., 144A		5.875%		5/15/21		BB–		1,455,000
	3,500	Total Leisure Equipment & Products								3,375,000
		Machinery – 1.6%
	3,300	Chloe Marine Corporation Limited		12.000%		12/28/16		N/R		3,580,500
	3,000	Commercial Vehicle Group		7.875%		4/15/19		B		3,003,750
	2,100	Loxam SAS, 144A		7.375%		1/24/20		B		2,706,115
	2,000	Trinseo Materials Operating, 144A, (4)		8.750%		2/01/19		B+		1,910,000
	10,400	Total Machinery								11,200,365
		Marine – 0.7%
	11,000	BOA SBL AS		7.310%		4/19/18		N/R		1,792,784
	2,850	Navios Maritime Acquisition Corporation, (4)		8.625%		11/01/17		B		2,914,125
	13,850	Total Marine								4,706,909
		Media – 4.3%
	1,000	American Media Inc., 144A, (4)		13.500%		6/15/18		CCC–		925,000
	2,000	American Media Inc.		11.500%		12/15/17		B2		1,940,000
	1,000	Baker & Taylor Inc., 144A		15.000%		4/01/17		B3		732,500
	1,850	Charter Communications, CCO Holdings LLC		5.125%		2/15/23		BB–		1,734,375
	3,000	Clear Channel Communications, Inc., 144A		11.250%		3/01/21		CCC+		3,127,500
	2,000	Clear Channel Communications, Inc., (4)		5.500%		9/15/14		CCC–		1,945,000
	1,000	CSC Holdings Inc.		7.875%		2/15/18		BB+		1,135,000
	3,800	Dish DBS Corporation		5.875%		7/15/22		BB–		3,857,000
	2,000	McClatchy Company, 144A		9.000%		12/15/22		B1		2,100,000
	3,000	McGraw-Hill Global Education Holdings, 144A		9.750%		4/01/21		BB		3,067,500
	2,650	Nara Cable Funding Limited, 144A		8.875%		12/01/18		BB–		2,756,000
	2,000	Radio One Inc., (4)		12.500%		5/24/16		CCC		2,015,000
	1,500	UnityMedia Hessen GmBH		7.500%		3/15/19		Ba3		1,578,750
	1,650	Videotron Limited, 144A		5.625%		6/15/25		BB		1,498,288
	1,500	WideOpenWest Finance Capital Corporation		13.375%		10/15/19		CCC+		1,657,500
	29,950	Total Media								30,069,413
		Metals & Mining – 6.2%
	1,000	Aleris International Inc., (3)		10.000%		12/15/16		N/R		1
	2,000	Allied Nevada Gold Corporation, 144A		8.750%		6/01/19		B–		1,635,447
	1,450	Bumi Investment PTE Limited, 144A, (4)		10.750%		10/06/17		B–		1,044,000
	3,000	Century Aluminum Company, 144A, (4)		7.500%		6/01/21		B		2,910,000
	2,200	Cliffs Natural Resources Inc., (4)		4.800%		10/01/20		BBB–		1,983,071
	1,725	Coeur D’Alene Mines Corporation, 144A		7.875%		2/01/21		BB–		1,699,125
	800	Commercial Metals Inc.		4.875%		5/15/23		BB+		736,000

84 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Metals & Mining (continued)
$	2,000	First Quantum Minerals Limited, 144A, (4)		7.250%		10/15/19		BB	$	1,880,000
	1,075	FMG Resources, 144A, (4)		6.000%		4/01/17		BB+		1,045,438
	2,250	IAMGOLD Corporation, 144A		6.750%		10/01/20		BB–		1,901,250
	2,305	Inmet Mining Corporation, 144A, (4)		8.750%		6/01/20		B+		2,356,863
	2,000	Magnetation LLC Finance Corporation, 144A		11.000%		5/15/18		B–		1,960,000
	2,000	Mirabela Nickel Limited, 144A		8.750%		4/15/18		B–		1,580,000
	1,000	Molycorp Inc., 144A, (4)		10.000%		6/01/20		B3		970,000
	2,850	New Gold Incorporated, 144A		6.250%		11/15/22		BB–		2,728,875
	1,500	Northland Resources AB, (10)		13.000%		3/06/17		Caa3		270,000
	2,000	Northland Resources AB		15.000%		7/15/19		N/R		1,860,000
	2,750	Permian Holdings Incorporated, 144A, (4)		10.500%		1/15/18		B–		2,667,500
	2,150	Severstal OAO via Steel Capital, 144A		4.450%		3/19/18		BB+		2,031,750
	835	Taseko Mines Limited		7.750%		4/15/19		B		824,563
	2,000	Tempel Steel Company, 144A		12.000%		8/15/16		B–		1,900,000
	2,325	Thompson Creek Metals Company		7.375%		6/01/18		Caa2		1,918,125
	2,000	Tizir Limited		9.000%		9/28/17		N/R		1,990,000
	2,000	TMK OAO Capital SA, 144A		6.750%		4/03/20		B+		1,855,000
	1,400	Vedanta Resources PLC, 144A, (4)		6.000%		1/31/19		BB		1,330,000
	1,750	Walter Energy Inc., 144A, (4)		8.500%		4/15/21		B–		1,400,000
	2,000	WPE International Cooperatief U.A., 144A		10.375%		9/30/20		B+		1,560,000
	50,365	Total Metals & Mining								44,037,008
		Multiline Retail – 0.8%
	2,250	Burlington Coat Factory, (4)		10.000%		2/15/19		Caa1		2,486,250
	2,965	J.C. Penney Co. Inc.		7.950%		4/01/17		B–		2,853,813
	5,215	Total Multiline Retail								5,340,063
		Oil, Gas & Consumable Fuels – 15.5%
	2,500	Armstrong Energy Inc., 144A		11.750%		12/15/19		B–		2,375,000
	2,000	Athlon Holdings LP Finance Corporation, 144A, (4)		7.375%		4/15/21		CCC+		1,975,000
	1,900	Atlas Pipeline LP Finance, 144A		6.625%		10/01/20		B+		1,904,750
	3,255	Bill Barrett Corporation, (4)		7.000%		10/15/22		B+		3,255,000
	2,000	Bonanza Creek Energy,Inc., 144A		6.750%		4/15/21		B–		2,015,000
	2,500	Breitburn Energy Partners LP, 144A		7.875%		4/15/22		B–		2,550,000
	1,650	Calumet Specialty Products		9.375%		5/01/19		B		1,765,500
	1,550	Carrizo Oil and Gas Inc.		7.500%		9/15/20		B–		1,612,000
	1,270	Cheniere Energy Inc., 144A		5.625%		2/01/21		BB+		1,231,900
	2,000	Chesapeake Energy Corporation, (4)		6.875%		11/15/20		BB–		2,170,000
	3,125	Concho Resources Inc., (4)		5.500%		10/01/22		BB+		3,093,750
	2,500	Connacher Oil and Gas Limited, 144A, (4)		8.500%		8/01/19		B+		1,425,000
	2,650	Continental Resources Inc.		5.000%		9/15/22		BB+		2,696,375
	2,975	Deep Drilling 7 & 8 PT		14.250%		3/05/15		N/R		3,198,125
	1,500	Everest Acquisition LLC Finance, 144A, (4)		7.750%		9/01/22		B		1,605,000
	2,000	Floatel International Limited		8.000%		10/11/17		N/R		2,090,000
	3,029	Forest Oil Corporation, (4)		7.250%		6/15/19		B–		2,847,260
	11,000	GasLog Limited		7.250%		6/27/18		N/R		1,811,038
	2,000	Gastar Exploration USA, 144A		8.625%		5/15/18		B–		1,920,000

Nuveen Investments 85

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Oil, Gas & Consumable Fuels (continued)
$	500	Gibson Energy, 144A		6.750%		7/15/21		BB	$	498,750
	3,400	Halcon Resources Limited Liability Corporation, 144A		9.750%		7/15/20		CCC+		3,391,500
	2,400	Holly Energy Partners LP		6.500%		3/01/20		BB–		2,418,000
	3,000	ION Geophysical Corporation, 144A, (4)		8.125%		5/15/18		B+		2,895,000
	2,680	Key Energy Services Inc.		6.750%		3/01/21		BB–		2,572,800
	1,500	Kodiak Oil and Gas Corporation		8.125%		12/01/19		B–		1,627,500
	1,965	Legacy Reserves LP Finance Corporation, 144A, (4)		6.625%		12/01/21		B–		1,891,313
	1,395	Linn Energy LLC Finance Corporation, 144A		6.250%		11/01/19		B		1,328,738
	2,000	Martin Mid-Stream Partners LP Finance, 144A, (4)		7.250%		2/15/21		B–		2,010,000
	2,285	MEG Energy Corporation, 144A		6.375%		1/30/23		BB		2,216,450
	739	Newfield Exploration Company		5.625%		7/01/24		BBB–		716,830
	3,000	Northern Oil and Gas Inc., (4)		8.000%		6/01/20		B–		3,030,000
	2,900	Northern Tier Energy LLC, 144A		7.125%		11/15/20		BB–		2,929,000
	2,300	Ocean Rig UDW Inc.		9.500%		4/27/16		CCC+		2,386,250
	1,525	Offshore Group Investment Limited		7.500%		11/01/19		B–		1,589,813
	1,500	Paramount Resources Limited, 144A		7.625%		12/04/19		B		1,426,262
	3,400	PBF Holding Company LLC		8.250%		2/15/20		BB+		3,561,500
	2,000	Penn Virginia Corporation, 144A, (4)		8.500%		5/01/20		B–		1,940,000
	3,325	PetroBakken Energy Limited, 144A		8.625%		2/01/20		CCC+		3,158,750
	850	Petroleos de Venezuela SA, 144A		9.000%		11/17/21		B+		714,000
	2,250	Sabine Pass LNG LP, 144A		6.500%		11/01/20		BB+		2,272,500
	1,995	Samson Investment Company, 144A, (4)		9.750%		2/15/20		B–		2,102,231
	1,500	Sanchez Energy Corporation, 144A		7.750%		6/15/21		CCC+		1,462,500
	3,000	Sandridge Energy Inc., (4)		8.125%		10/15/22		B2		2,970,000
	2,500	Saratoga Resources Inc.		12.500%		7/01/16		N/R		2,525,000
	1,500	Seitel Inc., 144A		9.500%		4/15/19		B		1,503,750
	1,000	Seven Generations Energy Limited, 144A		8.250%		5/15/20		B3		995,000
	11,000	Ship Finance International Limited		6.810%		10/19/17		N/R		1,783,730
	1,700	Sterling Resources UK Limited		9.000%		4/30/19		N/R		1,742,500
	1,600	Summit Midstream Holdings LLC Finance, 144A		7.500%		7/01/21		B		1,624,000
	1,750	Talos Production LLC, 144A		9.750%		2/15/18		CCC+		1,662,500
	2,025	Vanguard Natural Resources Finance		7.875%		4/01/20		B		2,075,625
	2,720	Western Refining Inc., 144A		6.250%		4/01/21		BB–		2,658,800
	128,608	Total Oil, Gas & Consumable Fuels								109,221,290
		Paper & Forest Products – 1.5%
	250	Consolidated Container Company Limited Liability Corporation, 144A		10.125%		7/15/20		CCC+		262,500
	3,250	Millar Western Forest Products Ltd, (4)		8.500%		4/01/21		B–		3,209,375
	2,000	Sappi Papier Holding GMBH, 144A		7.500%		6/15/32		B		1,580,000
	1,975	Stora Enso Oyj		7.250%		4/15/36		BB		1,836,750
	1,530	Tembec Industries, Inc.		11.250%		12/15/18		B3		1,652,400
	2,000	Verso Paper Holdings LLC		11.750%		1/15/19		Ba3		2,060,000
	11,005	Total Paper & Forest Products								10,601,025
		Personal Products – 0.4%
	3,000	Albea Beauty Holdings SA, 144A, (4)		8.375%		11/01/19		B+		2,940,000

86 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		Pharmaceuticals – 1.2%
$	750	Endo Pharmaceutical Holdings Inc.		7.000%		12/15/20		BB–	$	752,813
	3,500	Sky Growth Holdings Corporation, dba Par Pharmaceuticals, 144A		7.375%		10/15/20		B–		3,587,500
	4,000	VP Escrow Corporation, 144A		6.375%		10/15/20		B1		3,955,000
	8,250	Total Pharmaceuticals								8,295,313
		Real Estate Investment Trust – 0.3%
	1,750	KWG Property Holdings Limited		13.250%		3/22/17		B+		1,901,139
		Real Estate Management & Development – 1.5%
	3,000	Country Garden Holding Company, 144A		7.500%		1/10/23		BB–		2,745,000
	2,000	Kaisa Group Holdings Limited, 144A, (4)		8.875%		3/19/18		B+		1,910,000
	2,765	Mattamy Group Corporation, 144A		6.500%		11/15/20		BB		2,709,700
	2,000	Gemdale International Investment Limited		7.125%		11/16/17		BB–		1,955,710
	1,250	Shimao Property Holdings Limited		11.000%		3/08/18		BB		1,334,285
	11,015	Total Real Estate Management & Development								10,654,695
		Road & Rail – 0.8%
	1,291	Inversiones Alsacia SA, 144A		8.000%		8/18/18		BB		1,091,041
	1,950	Jack Cooper Holdings Corporation, 144A, (4)		9.250%		6/01/20		B2		1,950,000
	2,500	Watco Companies LLC Finance, 144A		6.375%		4/01/23		B3		2,487,500
	5,741	Total Road & Rail								5,528,541
		Semiconductors & Equipment – 0.9%
	1,500	Amkor Technology Inc., 144A, (4)		6.375%		10/01/22		BB		1,470,000
	2,075	Freescale Semiconductor Inc., 144A		5.000%		5/15/21		B1		1,971,250
	2,500	Freescale Semiconductor Inc., (4)		10.750%		8/01/20		CCC+		2,750,000
	6,075	Total Semiconductors & Equipment								6,191,250
		Software – 0.4%
	2,500	Interface Security Systems Holdings, 144A		9.250%		1/15/18		B–		2,550,000
		Specialty Retail – 0.3%
	2,200	Rite Aid Corporation, 144A, (WI/DD)		6.750%		6/15/21		CCC+		2,161,500
		Textiles, Apparel & Luxury Goods – 0.3%
	2,170	Jones Group		6.875%		3/15/19		B+		2,180,850
		Tobacco – 0.7%
	2,500	North Atlantic Trading Company, 144A		11.500%		7/15/16		B2		2,600,000
	2,350	Vector Group Limited		7.750%		2/15/21		Ba3		2,426,373
	4,850	Total Tobacco								5,026,373
		Trading Companies & Distributors – 0.2%
	1,375	Russel Metals Inc., 144A		6.000%		4/19/22		Ba1		1,307,405
		Transportation Infrastructure – 0.4%
	2,800	Navigator Holdings Limited		9.000%		12/18/17		N/R		2,899,529
		Wireless Telecommunication Services – 2.0%
	3,400	Digicel Limited, 144A		7.000%		2/15/20		B1		3,434,000
	2,075	FairPoint Communications Inc., 144A, (4)		8.750%		8/15/19		B		2,054,250
	750	GNET Escrow Corporation, 144A		12.125%		7/01/18		B3		787,500
	2,000	IntelSat Jackson Holdings, 144A		6.625%		12/15/22		CCC+		1,940,000
	3,000	NII International Telecom SA, 144A, (4)		7.875%		8/15/19		B2		2,842,500
	3,350	Wind Acquisition Finance SA, 144A		7.250%		2/15/18		BB		3,341,625
	14,575	Total Wireless Telecommunication Services								14,399,875
$	609,741	Total Corporate Bonds (cost $581,834,955)								569,308,943

Nuveen Investments 87

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		CONVERTIBLE BONDS – 0.7%
		Commercial Banks – 0.1%
$	750	Lloyds Banking Group LBG Capital 1, 144A		8.000%		6/15/20		BB	$	761,194
		Diversified Telecommunication Services – 0.2%
	2,000	Alaska Communications Systems Group Inc.		6.250%		5/01/18		B+		1,573,750
		Metals & Mining – 0.1%
	1,500	Great Western Mineral Group		8.000%		4/06/17		N/R		972,750
		Oil, Gas & Consumable Fuels – 0.3%
	1,800	DCP Midstream LLC		5.850%		5/21/43		Baa3		1,728,000
$	6,050	Total Convertible Bonds (cost $5,714,230)								5,035,694
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 6.0%
		Capital Markets – 1.1%
$	4,300	Dresdner Funding Trust, 144A, (4)		8.151%		6/30/31		BB	$	4,316,125
	4,615	Goldman Sachs Capital II		4.000%		N/A (11)		BB+		3,668,925
	8,915	Total Capital Markets								7,985,050
		Commercial Banks – 2.7%
	1,300	Barclays Bank PLC		6.000%		N/A (11)		BBB–		1,710,911
	2,000	Barclays Bank PLC		4.875%		N/A (11)		BBB–		1,898,316
	2,620	Barclays Bank PLC		4.750%		N/A (11)		BBB–		2,450,167
	2,000	BBVA International Preferred Uniperson, (4)		5.919%		N/A (11)		BB–		1,790,000
	2,000	Credit Agricole, S.A, 144A, (4)		6.637%		N/A (11)		BBB–		1,845,000
	1,500	Fifth Third Bancorp., (4)		5.100%		N/A (11)		BB+		1,417,500
	3,000	HBOS Capital Funding LP, 144A, (4)		6.071%		N/A (11)		BB		2,610,000
	1,000	RBS Capital Trust		1.076%		N/A (11)		BB		720,000
	3,560	RBS Capital Trust, (4)		5.512%		N/A (11)		BB		2,598,800
	2,900	Societe Generale, 144A		1.055%		N/A (11)		BBB–		2,262,000
	21,880	Total Commercial Banks								19,302,694
		Consumer Finance – 0.2%
	2,000	AFGC Capital Trust I, 144A		6.000%		1/15/67		CCC–		1,500,000
		Industrial Conglomerates – 0.3%
	1,500	Telecom Italia SpA		7.750%		3/20/73		BB+		1,925,130
		Insurance – 1.7%
	2,000	Aviva PLC		5.902%		N/A (11)		BBB		2,867,007
	3,800	Genworth Financial Inc.		6.150%		11/15/66		Ba1		3,296,500
	3,000	Glen Meadows Pass Through Trust		6.505%		2/12/67		BB+		2,820,000
	2,875	XL Capital Ltd, (4)		6.500%		N/A (11)		BBB–		2,803,125
	11,675	Total Insurance								11,786,632
$	45,970	Total $1,000 Par (or similar) Institutional Structures (cost $40,664,592)								42,499,506
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 0.1%
$	1,000	U.S. Treasury Notes, (12)		1.500%		12/31/13		Aaa	$	1,006,797
$	1,000	Total U.S. Government and Agency Obligations (cost $999,556)								1,006,797

88 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 0.0%
$	3	Green Tree Financial Corporation, Manufactured Housing Contract Pass-Through Certificates, Series 1998-1		6.040%		11/01/29		AA	$	2,835
$	3	Total Asset-Backed and Mortgage-Backed Securities (cost $2,715)								2,835
Shares		Description (1), (16)							Value
		INVESTMENT COMPANIES – 1.5%
	120,000	Blackrock Credit Allocation Income Trust IV							$	1,557,600
	105,000	First Trust Strategic High Income Fund II								1,653,750
	50,500	Gabelli Global Gold Natural Resources and Income Trust								492,880
	193,000	Invesco Dynamic Credit Opportunities Fund								2,524,440
	154,500	Pimco Income Strategy Fund								1,847,820
	187,000	Pioneer Floating Rate Trust								2,475,880
		Total Investment Companies (cost $10,488,671)								10,552,370
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (5)		Value
		SOVEREIGN DEBT – 0.5%
		Argentina – 0.4%
$	1,965	Province of Buenos Aires, 144A		10.875%		1/26/21		B–	$	1,287,075
	2,000	Republic of Argentina		7.000%		10/03/15		B–		1,735,000
	3,965	Total Argentina								3,022,075
		Ukraine – 0.1%
	800	Republic of Ukraine, 144A		7.800%		11/28/22		B		714,000
$	4,765	Total Sovereign Debt (cost $4,135,366)								3,736,075
Shares		Description (1)							Value
		WARRANTS – 0.0%
	6,706	FairPoint Communications Inc., (8)							$	141
		Total Warrants (cost $0)								141
Shares		Description (1)							Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 17.6%
		Money Market Funds – 17.6%
	124,410,338	Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (13), (14)							$	124,410,338
		Total Investments Purchased with Collateral from Securities Lending (cost $124,410,338)								124,410,338
Shares		Description (1)	Coupon						Value
		SHORT-TERM INVESTMENTS – 1.9%
		Money Market Funds – 1.9%
	13,241,965	First American Treasury Obligations Fund, Class Z		0.000% (13)					$	13,241,965
		Total Short-Term Investments (cost $13,241,965)								13,241,965
		Total Investments (cost $837,725,487) – 117.2%								828,524,047
		Other Assets Less Liabilities – (17.2)% (15)								(121,841,178)
		Net Assets – 100%							$	706,682,869

Nuveen Investments 89

Portfolio of Investments

Nuveen High Income Bond Fund (continued)

June 30, 2013

Investments in Derivatives as of June 30, 2013

Forward Foreign Currency Exchange Contracts outstanding:

Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation) (U.S. Dollars) (15)
Citigroup	British Pound Sterling		1,270,000		U.S. Dollar		1,920,646		8/05/13	$	(10,971	)
Citigroup	British Pound Sterling		1,850,000		U.S. Dollar		2,801,807		8/05/13		(11,967	)
Citigroup	Euro		900,000		U.S. Dollar		1,165,788		7/31/13		(5,691	)
Citigroup	Euro		1,000,000		U.S. Dollar		1,305,197		7/31/13		3,554
Citigroup	Euro		2,300,000		U.S. Dollar		3,008,536		7/31/13		14,758
Citigroup	Euro		16,831,000		U.S. Dollar		21,778,304		7/31/13		(129,644	)
Citigroup	U.S. Dollar		3,532,210		Euro		2,700,000		7/31/13		(17,775	)
										$	(157,736	)

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value			Unrealized Appreciation (Depreciation)
U.S. Treasury 5-Year Note		Short		(88	)		9/13	$	(10,652,125	)	$	160,585
U.S. Treasury 10-Year Note		Short		(159	)		9/13		(20,123,437	)		534,108
U.S. Treasury Ultra Bond		Short		(19	)		9/13		(2,798,938	)		102,769
								$	(33,574,500	)	$	797,462

90 Nuveen Investments

	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 valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors/Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
(4)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $120,985,221.
(5)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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.
(6)	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.
(7)	Senior Loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior Loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the Agent Bank and/or borrower prior to the disposition of a Senior Loan.
(8)	For fair value measurement disclosure purposes, $25 Par (or similar) Retail Structures and Warrant classified as Level 2. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
(9)	Principal Amount (000) rounds to less than $1,000.
(10)	At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
(11)	Perpetual security. Maturity date is not applicable.
(12)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.
(13)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(14)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
(15)	Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.
(16)	A copy of the most recent financial statements for the investment companies in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.
N/A	Not applicable.
N/R	Not rated.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
REIT	Real Estate Investment Trust.
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.
TBD	Senior Loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, Senior Loans typically trade without accrued interest and therefore a coupon rate is not available prior to settlement. At settlement, if still unknown, the borrower or counterparty will provide the Fund with the final coupon rate and maturity date.
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.

See accompanying notes to financial statements.

Nuveen Investments 91

Portfolio of Investments

Nuveen Inflation Protected Securities Fund

June 30, 2013

Shares		Description (1)	Coupon				Ratings (2)		Value
		$25 PAR (OR SIMILAR) RETAIL STRUCTURES – 0.1%
		Capital Markets – 0.1%
	15,000	UBS Preferred Funding Trust IV		0.893%				BBB–	$	250,200
		Metals & Mining – 0.0%
	5,000	ArcelorMittal		6.000%				BB–		93,850
		Thrifts & Mortgage Finance – 0.0%
	16,000	Federal National Mortgage Association, (3)		4.503%				Ca		72,800
		Total $25 Par (or similar) Retail Structures (cost $746,200)								416,850
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		COPORATE BONDS – 5.6%
		Airlines – 0.1%
$	289	Delta Air Lines Pass-Through Certificates, Series 2012-1B, (3)		6.875%		5/07/19		BB+	$	305,272
		Auto Components – 0.2%
	250	Allison Transmission Inc., 144A		7.125%		5/15/19		B+		264,375
	200	American & Axle Manufacturing Inc., (3)		6.250%		3/15/21		B		203,250
	200	Gestamp Fund Lux SA, 144A		5.625%		5/31/20		BB		190,000
	650	Total Auto Components								657,625
		Automobiles – 0.2%
	300	Chrysler GP/CG Company, (3)		8.000%		6/15/19		B1		327,375
	250	Jaguar Land Rover PLC, 144A, (3)		8.125%		5/15/21		BB–		275,000
	550	Total Automobiles								602,375
		Biotechnology – 0.1%
	250	STHI Holding Corporation, 144A		8.000%		3/15/18		B		270,000
		Building Products – 0.1%
	250	Owens Corning Incorporated		4.200%		12/15/22		BBB–		242,247
		Chemicals – 0.2%
	250	Hexion US Finance		6.625%		4/15/20		Ba3		249,375
	200	Omonva Solutions Inc.		7.875%		11/01/18		B2		208,000
	150	Sinochem Overseas Capital Limited		4.500%		11/12/20		Baa1		147,886
	600	Total Chemicals								605,261
		Commercial Banks – 0.1%
	200	Banco do Nordeste do Brasil, 144A		3.625%		11/09/15		BBB		198,640
	70	Regions Financial Corporation		7.750%		11/10/14		BBB–		75,641
	200	VTB Capital SA, 144A		6.875%		5/29/18		Baa1		212,000
	470	Total Commercial Banks								486,281
		Commercial Services & Supplies – 0.3%
	200	Aramark Corporation, 144A		5.750%		3/15/20		B–		204,500
	250	Ceridian Corporation, 144A		8.875%		7/15/19		B1		277,813
	250	Clean Harbors Inc., (3)		5.250%		8/01/20		BB+		253,750
	250	Covanta Energy Corporation, Synthetic Letter of Credit		6.375%		10/01/22		BB		252,650
	950	Total Commercial Services & Supplies								988,713
		Computers & Peripherals – 0.1%
	250	Hewlett Packard Company, (3)		3.750%		12/01/20		A–		241,990
		Containers & Packaging – 0.1%
	200	Ardagh Packaging Finance / MP HD USA, 144A		4.875%		11/15/22		Ba3		187,000

92 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Containers & Packaging (continued)
$	325	Reynolds Group		7.125%		4/15/19		B+	$	343,281
	525	Total Containers & Packaging								530,281
		Diversified Financial Services – 0.1%
	225	Nationstar Mortgage LLC Capital Corporation		7.875%		10/01/20		B+		238,500
	250	UPCB Finance Limited, 144A, (3)		6.625%		7/01/20		BB		258,750
	475	Total Diversified Financial Services								497,250
		Diversified Telecommunication Services – 0.1%
	250	CyrusOne LP Finance, 144A		6.375%		11/15/22		B+		256,250
		Electric Utilities – 0.1%
	570	Comision Federal de Electricidad of the United States of Mexcio, 144A		4.875%		5/26/21		Baa1		582,825
		Energy Equipment & Services – 0.1%
	220	Gulfmark Offshore Inc.		6.375%		3/15/22		BB–		218,350
	250	Precision Drilling Corporation		6.500%		12/15/21		Ba1		253,125
	470	Total Energy Equipment & Services								471,475
		Gas Utilities – 0.1%
	250	AmeriGas Finance LLC		7.000%		5/20/22		Ba2		255,625
		Health Care Providers & Services – 1.0%
	1,700	Catholic Health Initiatives		1.600%		11/01/17		AA–		1,664,120
	250	HCA Holdings Inc.		6.250%		2/15/21		B–		255,000
	250	HealthSouth Corporation		5.750%		11/01/24		BB–		243,125
	1,715	Mayo Clinic Rochester		3.774%		11/15/43		AA		1,519,722
	3,915	Total Health Care Providers & Services								3,681,967
		Hotels, Restaurants & Leisure – 0.0%
	200	Wynn Las Vegas LLC Corporation		5.375%		3/15/22		BBB–		202,000
		Household Durables – 0.1%
	250	Brookfield Residential Properties Inc., 144A		6.500%		12/15/20		BB–		251,875
		Independent Power Producers & Energy Traders – 0.2%
	318	Calpine Corporation, 144A		7.875%		7/31/20		BB+		345,030
	200	Dynegy Holdings, Inc., Term Loan		5.875%		6/01/23		B+		182,000
	200	Mirant Americas Generation LLC, (3)		8.500%		10/01/21		BB–		215,000
	718	Total Independent Power Producers & Energy Traders								742,030
		Media – 0.2%
	200	Charter Communications, CCO Holdings LLC		5.125%		2/15/23		BB–		187,500
	300	Dish DBS Corporation, 144A		4.250%		4/01/18		BB–		294,000
	200	Sirius XM Radio Inc., 144A		4.250%		5/15/20		BB		188,000
	700	Total Media								669,500
		Metals & Mining – 0.4%
	250	ArcelorMittal, (3)		6.750%		2/25/22		BB+		256,250
	250	Cliffs Natural Resources Inc., (3)		4.800%		10/01/20		BBB–		225,349
	250	Coeur D’Alene Mines Corporation, 144A		7.875%		2/01/21		BB–		246,250
	200	Commercial Metals Inc.		4.875%		5/15/23		BB+		184,000
	200	IAMGOLD Corporation, 144A		6.750%		10/01/20		BB–		169,000
	200	Severstal OAO via Steel Capital, 144A		4.450%		3/19/18		BB+		189,000
	200	Taseko Mines Limited		7.750%		4/15/19		B		197,500
	200	Vedanta Resources PLC, 144A		6.000%		1/31/19		BB		190,000
	1,750	Total Metals & Mining								1,657,349

Nuveen Investments 93

Portfolio of Investments

Nuveen Inflation Protected Securities Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Oil, Gas & Consumable Fuels – 1.1%
$	200	Bill Barrett Corporation, (3)		7.000%		10/15/22		B+	$	200,000
	275	Calumet Specialty Products		9.375%		5/01/19		B		294,250
	200	Carrizo Oil and Gas Inc.		7.500%		9/15/20		B–		208,000
	225	Continental Resources Inc.		5.000%		9/15/22		BB+		228,938
	200	Drill Rigs Holdings Inc., 144A		6.500%		10/01/17		B		199,500
	250	Everest Acquisition LLC Finance, 144A, (3)		7.750%		9/01/22		B		267,500
	250	Holly Energy Partners LP		6.500%		3/01/20		BB–		251,875
	250	Linn Energy LLC Finance Corporation, 144A		6.250%		11/01/19		B		238,125
	250	Martin Mid-Stream Partners LP Finance, 144A, (3)		7.250%		2/15/21		B–		251,250
	250	MEG Energy Corporation, 144A		6.375%		1/30/23		BB		242,500
	200	Newfield Exploration Company		5.625%		7/01/24		BBB–		194,000
	250	Northern Tier Energy LLC, 144A		7.125%		11/15/20		BB–		252,500
	250	PBF Holding Company LLC		8.250%		2/15/20		BB+		261,875
	500	Regency Energy Partners Finance, (3)		6.500%		7/15/21		BB		522,500
	250	Sabine Pass LNG LP		7.500%		11/30/16		BB+		269,063
	175	SM Energy Company		6.625%		2/15/19		BB–		183,313
	3,975	Total Oil, Gas & Consumable Fuels								4,065,189
		Paper & Forest Products – 0.1%
	250	Sappi Papier Holding GMBH, 144A		8.375%		6/15/19		BB		263,750
		Personal Products – 0.0%
	200	Albea Beauty Holdings SA, 144A, (3)		8.375%		11/01/19		B+		196,000
		Pharmaceuticals – 0.1%
	250	Endo Pharmaceutical Holdings Inc., (3)		7.000%		12/15/20		BB–		250,938
	250	Valeant Pharmaceuticals International, 144A		6.375%		10/15/20		B1		247,188
	500	Total Pharmaceuticals								498,126
		Real Estate Management & Development – 0.0%
	200	Country Garden Holding Company, 144A, (3)		11.125%		2/23/18		BB–		217,000
		Trading Companies & Distributors – 0.1%
	300	Russel Metals Inc., 144A		6.000%		4/19/22		Ba1		285,252
		Road & Rail – 0.0%
	175	Hertz Corporation, (3)		7.375%		1/15/21		B		189,437
		Wireless Telecommunication Services – 0.3%
	250	Digicel Limited, 144A		7.000%		2/15/20		B1		252,499
	300	Frontier Communications Corporation		7.625%		4/15/24		BB+		300,749
	200	Sprint Nextel Corporation		7.000%		3/01/20		BB		215,999
	400	Wind Acquisition Finance SA, 144A		7.250%		2/15/18		BB		398,999
	1,150	Total Wireless Telecommunication Services								1,168,246
$	21,082	Total Corporate Bonds (cost $21,828,090)								21,081,191
Shares/ Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 0.1%
		Capital Markets – 0.0%
$	200	Goldman Sachs Capital II, (4)		4.000%		N/A (5)		BB+	$	159,000

94 Nuveen Investments

Shares/ Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Diversified Financial Services – 0.1%
$	200	Bank of America Corporation		7.250%		N/A (5)		BB+	$	222,100
		Insurance – 0.0%
	175	Genworth Financial Inc., (4)		6.150%		11/15/66		Ba1		151,813
		Total $1,000 Par (or similar) Institutional Structures (cost $503,989)								532,913
Principal Amount (000)		Description (1)			Optional Call Provisions (6)		Ratings (2)		Value
		MUNICIPAL BONDS – 0.8%
		Illinois – 0.4%
$	1,130	Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19				No Opt. Call		A–	$	1,247,012
		Maryland – 0.3%
	1,250	Baltimore County, Maryland, General Obligation Bonds, Taxable, Series 2012, 0.951%, 8/01/17				No Opt. Call		AAA		1,214,025
		Ohio – 0.1%
	400	Kings Local School District, Warren County, Ohio, General Obligation School Improvement Bonds, Federally Taxable, Series 2013B, 3.750%, 12/01/18				No Opt. Call		AA		428,883
$	2,780	Total Municipal Bonds (cost $2,823,128)								2,889,920
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 84.6%
$	1,100	Fannie Mae STRIPS (P/O)		0.000%		2/01/19		AA–	$	958,456
	2,115	Federal Farm Credit Banks, Consolidated Systemwide Notes		1.750%		4/01/21		Aaa		1,986,787
	2,210	Federal National Mortgage Association		0.000%		10/09/19		AA–		1,856,400
	825	FICO STRIPS (I/O)		0.000%		5/02/17		Aaa		787,670
	1,080	Private Export Funding		1.450%		8/15/19		Aaa		1,030,733
	1,900	Private Export Funding		2.050%		11/15/22		Aaa		1,759,529
	1,055	Tennessee Valley Authority, Series A		3.875%		2/15/21		Aaa		1,140,820
	8,734	U.S. Treasury Bonds		3.875%		4/15/29		Aaa		12,588,474
	233	U.S. Treasury Inflation Indexed Obligations		2.000%		1/15/14		Aaa		236,053
	2,241	U.S. Treasury Inflation Indexed Obligations		1.250%		4/15/14		Aaa		2,272,095
	4,811	U.S. Treasury Inflation Indexed Obligations		2.000%		7/15/14		Aaa		4,966,689
	6,412	U.S. Treasury Inflation Indexed Obligations		1.625%		1/15/15		Aaa		6,666,631
	4,957	U.S. Treasury Inflation Indexed Obligations		0.500%		4/15/15		Aaa		5,080,757
	4,310	U.S. Treasury Inflation Indexed Obligations		1.875%		7/15/15		Aaa		4,581,381
	4,323	U.S. Treasury Inflation Indexed Obligations		2.000%		1/15/16		Aaa		4,642,933
	22,697	U.S. Treasury Inflation Indexed Obligations		0.125%		4/15/16		Aaa		23,280,171
	3,944	U.S. Treasury Inflation Indexed Obligations		2.500%		7/15/16		Aaa		4,359,235
	13,318	U.S. Treasury Inflation Indexed Obligations		2.375%		1/15/17		Aaa		14,762,003
	29,900	U.S. Treasury Inflation Indexed Obligations		0.125%		4/15/17		Aaa		30,677,360
	2,502	U.S. Treasury Inflation Indexed Obligations		2.625%		7/15/17		Aaa		2,838,343
	1,326	U.S. Treasury Inflation Indexed Obligations		1.625%		1/15/18		Aaa		1,451,879
	8,550	U.S. Treasury Inflation Indexed Obligations		0.125%		4/15/18		Aaa		8,770,843
	1,717	U.S. Treasury Inflation Indexed Obligations		2.125%		1/15/19		Aaa		1,941,271

Nuveen Investments 95

Portfolio of Investments

Nuveen Inflation Protected Securities Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
$	4,403	U.S. Treasury Inflation Indexed Obligations		1.375%		1/15/20		Aaa	$	4,797,635
	7,085	U.S. Treasury Inflation Indexed Obligations		1.250%		7/15/20		Aaa		7,696,260
	11,374	U.S. Treasury Inflation Indexed Obligations		1.125%		1/15/21		Aaa		12,163,951
	18,189	U.S. Treasury Inflation Indexed Obligations		0.625%		7/15/21		Aaa		18,771,661
	25,171	U.S. Treasury Inflation Indexed Obligations		0.125%		1/15/22		Aaa		24,653,624
	17,534	U.S. Treasury Inflation Indexed Obligations		0.125%		7/15/22		Aaa		17,137,812
	19,846	U.S. Treasury Inflation Indexed Obligations		0.125%		1/15/23		Aaa		19,242,647
	11,374	U.S. Treasury Inflation Indexed Obligations		2.375%		1/15/25		Aaa		13,549,140
	6,239	U.S. Treasury Inflation Indexed Obligations		2.000%		1/15/26		Aaa		7,204,135
	5,016	U.S. Treasury Inflation Indexed Obligations		2.375%		1/15/27		Aaa		6,038,956
	6,965	U.S. Treasury Inflation Indexed Obligations		1.750%		1/15/28		Aaa		7,803,452
	6,074	U.S. Treasury Inflation Indexed Obligations		3.625%		4/15/28		Aaa		8,430,325
	4,002	U.S. Treasury Inflation Indexed Obligations		2.500%		1/15/29		Aaa		4,936,058
	5,331	U.S. Treasury Inflation Indexed Obligations		2.125%		2/15/40		Aaa		6,478,570
	5,675	U.S. Treasury Inflation Indexed Obligations		2.125%		2/15/41		Aaa		6,910,341
	8,521	U.S. Treasury Inflation Indexed Obligations		0.750%		2/15/42		Aaa		7,500,947
	1,517	U.S. Treasury Inflation Indexed Obligations		0.625%		2/15/43		Aaa		1,275,905
	2,140	U.S. Treasury Notes		1.375%		7/15/18		Aaa		2,337,812
	2,488	U.S. Treasury Notes		1.875%		7/15/19		Aaa		2,805,566
$	299,204	Total U.S. Government and Agency Obligations (cost $319,603,694)								318,371,310
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 7.6%
$	2,000	Commercial Mortgage Pass-Through Certificates Series 2012-CR4		1.801%		10/17/45		AAA	$	1,980,016
	730	DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A		3.642%		8/12/44		Aaa		770,765
	7,500	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)		5.982%		8/10/45		A		8,357,685
	3,800	Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-GG11, (3)		5.736%		12/10/49		AAA		4,255,840
	955	JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C1		3.853%		6/15/43		Aaa		996,901
	2,000	JPMorgan JPMBB Commercial Mortgage Securities Trust, Pass-Through Certificates, Series 2013-C12		3.664%		7/17/45		Aaa		1,970,903
	1,394	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3 A1		2.178%		7/16/49		Aaa		1,417,704
	700	OBP Depositor LLC Trust, Commercial Mortgage Pass-Through Certificates, Series 2010-OBP		4.646%		7/17/45		AAA		759,053
	3,060	SBA Tower Trust		3.598%		4/15/43		BBB		3,027,824
	164	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1		4.125%		2/25/41		AAA		163,913
	2,000	UBS Barclays Commercial Mortgage Trust 2012-C4		2.850%		12/12/45		AAA		1,849,928
	1,920	Wells Fargo – Royal Bank of Scotland Commercial Mortgage Trust, Series 2012-C10 A3		2.875%		12/15/45		Aaa		1,775,359
	1,260	Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3		4.375%		3/17/44		Aaa		1,323,578
$	27,483	Total Asset-Backed and Mortgage-Backed Securities (cost $29,347,987)								28,649,469

96 Nuveen Investments

Shares		Description (1), (9)							Value
		INVESTMENT COMPANIES – 0.3%
	10,500	Blackrock Credit Allocation Income Trust IV							$	136,290
	5,000	Invesco Dynamic Credit Opportunities Fund								65,400
	28,000	Pimco Income Strategy Fund								334,880
	5,000	Pioneer Floating Rate Trust								66,200
	19,000	PowerShares Senior Loan Portfolio, (3)								470,250
		Total Investment Companies (cost $1,064,475)								1,073,020
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		SOVEREIGN DEBT – 0.6%
		Canada – 0.5%
$	1,500	Province of Quebec		7.500%		7/15/23		Aa2	$	1,995,150
		Poland – 0.1%
	250	Republic of Poland		6.375%		7/15/19		A2		291,578
$	1,750	Total Sovereign Debt (cost $2,361,271)								2,286,728
Shares		Description (1)							Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 4.0%
		Money Market Funds – 4.0%
	15,202,864	Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (7), (8)							$	15,202,864
		Total Investments Purchased with Collateral from Securities Lending (cost $15,202,864)								15,202,864
		Total Investments (cost $393,481,698) – 103.7%								390,504,265
		Other Assets Less Liabilities – (3.7)%								(14,070,705)
		Net Assets – 100%							$	376,433,560

Investments in Derivatives as of June 30, 2013

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value*			Unrealized Appreciation (Depreciation)
U.S. Treasury 2-Year Note		Long		89			9/13	$	19,580,001		$	(903	)
U.S. Treasury 5-Year Note		Long		75			9/13		9,078,515			(105,191	)
U.S. Treasury 10-Year Note		Long		62			9/13		7,846,875			(91,504	)
U.S. Treasury Long Bond		Long		47			9/13		6,384,656			(5,069	)
U.S. Treasury Ultra Bond		Short		(64	)		9/13		(9,428,000	)		349,602
								$	33,462,047		$	146,935

* Total Notional Amount at Value of Long and Short positions were $42,890,047 and $(9,428,000), respectively.

Nuveen Investments 97

Portfolio of Investments

Nuveen Inflation Protected Securities Fund (continued)

June 30, 2013

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $14,856,251.
(4)	For fair value measurement disclosure purposes, $1,000 Par (or similar) Institutional Structures categorized as Level 2. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
(5)	Perpetual security. Maturity date is not applicable.
(6)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(7)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(8)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
(9)	A copy of the most recent financial statements for the investment companies in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.
I/O	Interest only security.
N/A	Not applicable.
P/O	Principal only security.
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 transactions with qualified institutional buyers.

See accompanying notes to financial statements.

98 Nuveen Investments

Portfolio of Investments

Nuveen Intermediate Government Bond Fund

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CORPORATE BONDS – 0.6%
		Health Care Providers & Services – 0.6%
$	400	Catholic Health Initiatives		1.600%		11/01/17		AA–	$	391,558
$	400	Total Corporate Bonds (cost $399,884)								391,558
Principal Amount (000)		Description (1)			Optional Call Provisions (3)		Ratings (2)		Value
		MUNICIPAL BONDS – 3.2%
		Connecticut – 0.6%
$	385	Connecticut State, General Obligation Bonds, Various Purpose Taxable Series 2012B, 0.465%, 10/15/14				No Opt. Call		AA	$	385,154
		Maryland – 0.8%
	570	Baltimore County, Maryland, General Obligation Bonds, Taxable, Series 2012, 0.554%, 8/01/15				No Opt. Call		AAA		565,947
		Ohio – 1.8%
	250	Kings Local School District, Warren County, Ohio, General Obligation School Improvement Bonds, Federally Taxable, Series 2013B, 3.750%, 12/01/18				No Opt. Call		AA		268,053
	845	Ohio State, General Obligation Bonds, Higher Education, Build America Bond Series 2010E, 3.328%, 8/01/17 – AGM Insured				No Opt. Call		AA+		890,343
	1,095	Total Ohio								1,158,396
$	2,050	Total Municipal Bonds (cost $2,151,150)								2,109,497
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 37.5%
$	765	Fannie Mae Notes		1.100%		8/28/17		Aaa	$	754,239
	665	Fannie Mae Notes		1.500%		5/25/18		Aaa		658,596
	675	Fannie Mae Notes, (4)		0.875%		5/21/18		Aaa		652,362
	1,000	Fannie Mae Notes		1.250%		9/27/18		Aaa		981,934
	225	Fannie Mae STRIPS (P/O)		0.000%		2/01/19		AA–		196,048
	700	Federal Farm Credit Banks, Consolidated Systemwide Notes		3.000%		9/22/14		Aaa		723,520
	845	Federal Farm Credit Banks, Consolidated Systemwide Notes		1.500%		11/16/15		Aaa		863,448
	360	Federal Farm Credit Banks, Consolidated Systemwide Notes		1.750%		4/01/21		Aaa		338,176
	675	Federal Home Loan Bank Bonds		0.375%		6/24/16		Aaa		667,416
	700	Federal Home Loan Bank Bonds		1.300%		6/05/18		Aaa		682,759
	1,080	Federal Home Loan Bank Bonds		4.125%		3/13/20		Aaa		1,195,082
	775	Federal Home Loan Bank Bonds		1.875%		12/09/22		Aaa		695,997
	735	Federal Home Loan Banks, Discount Notes		2.220%		3/28/23		Aaa		690,774
	365	Federal Home Loan Mortgage Corporation, Notes		3.750%		3/27/19		Aaa		401,223
	1,700	Federal National Mortgage Association		1.875%		10/15/15		Aaa		1,747,743
	435	Federal National Mortgage Association		0.000%		10/09/19		AA–		365,400
	710	FICO STRIPS (I/O)		0.000%		5/02/17		Aaa		677,874
	1,065	Freddie Mac Notes		0.850%		2/24/16		Aaa		1,067,084
	770	Freddie Mac Notes		0.750%		10/05/16		Aaa		765,871
	1,645	Freddie Mac Reference Notes		5.000%		2/16/17		Aaa		1,872,783
	985	Freddie Mac Reference Notes		0.750%		1/12/18		Aaa		953,685
	880	Freddie Mac Reference Notes		0.875%		3/07/18		Aaa		851,557

Nuveen Investments 99

Portfolio of Investments

Nuveen Intermediate Government Bond Fund (continued)

June 30, 2013

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
$	270		Freddie Mac Reference Notes		5.000%		12/14/18		Aa2	$	310,126
	560		Freddie Mac Reference Notes		1.250%		10/02/19		Aaa		530,554
	340		Freddie Mac Reference Notes		2.375%		1/13/22		Aaa		330,404
	505		Private Export Funding		4.550%		5/15/15		Aaa		544,341
	345		Private Export Funding		2.125%		7/15/16		Aaa		358,860
	335		Private Export Funding		1.450%		8/15/19		Aaa		319,718
	390		Private Export Funding		2.050%		11/15/22		Aaa		361,167
	530		Tennessee Valley Authority, Series A		3.875%		2/15/21		Aaa		573,113
	325		U.S. Treasury Bonds		8.750%		8/15/20		Aaa		474,297
	430		U.S. Treasury Notes		1.000%		11/30/19		Aaa		409,675
	2,240		U.S. Treasury Notes		2.000%		2/15/22		Aaa		2,190,824
$	24,025		Total U.S. Government and Agency Obligations (cost $24,396,301)								24,206,650
Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 58.1%
$	686		321 Henderson Receivables LLC, Series 2010-3A		3.820%		12/15/48		Aaa	$	718,355
	764		321 Henderson Receivables LLC., Series 2010-1A		5.560%		7/15/59		Aaa		874,299
	641		Centerpoint Energy Transition Bond Company LLC		0.901%		4/15/18		AAA		640,993
	526		Commercial Mortgage Pass-Through Certificates 2012-CR2 A1		0.824%		8/17/45		Aaa		523,607
	280		DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A		3.642%		8/12/44		Aaa		295,636
	1,000		Discover Card Master Trust I 2011-A3 A		0.403%		3/15/17		AAA		999,793
	596		Entergy Arkansas Restoration Funding LLC, Senior Secured Storm Recovery Bonds, Series 2010-A		2.300%		8/01/21		AAA		611,031
	766		Fannie Mae Mortgage Pool AB1959		2.352%		12/01/40		Aaa		799,819
	664		Fannie Mae Mortgage Pool AB9659		2.302%		6/01/43		Aaa		649,594
	1,049		Fannie Mae Mortgage Pool AD0486		3.500%		4/01/34		Aaa		1,114,242
	240		Fannie Mae Mortgage Pool AD0706		4.000%		3/01/38		Aaa		254,591
	588		Fannie Mae Mortgage Pool AE4876		3.000%		10/01/40		Aaa		598,079
	—	(5)	Fannie Mae Mortgage Pool 251901		6.500%		8/01/13		Aaa		118
	5		Fannie Mae Mortgage Pool 252799		7.000%		10/01/14		Aaa		5,286
	248		Fannie Mae Mortgage Pool 254169		6.500%		12/01/31		Aaa		269,305
	147		Fannie Mae Mortgage Pool 254179		6.000%		1/01/22		Aaa		159,673
	147		Fannie Mae Mortgage Pool 254344		6.500%		6/01/22		Aaa		163,471
	161		Fannie Mae Mortgage Pool 254373		6.500%		7/01/17		Aaa		172,956
	151		Fannie Mae Mortgage Pool 254414		7.000%		7/01/17		Aaa		162,516
	249		Fannie Mae Mortgage Pool 254720		4.500%		5/01/18		Aaa		264,694
	1,801		Fannie Mae Mortgage Pool 464158		3.120%		1/01/15		Aaa		1,847,411
	876		Fannie Mae Mortgage Pool 467749		3.240%		4/01/16		Aaa		920,640
	71		Fannie Mae Mortgage Pool 580516		5.500%		4/01/16		Aaa		74,523
	177		Fannie Mae Mortgage Pool 596680		7.000%		9/01/31		Aaa		195,168
	473		Fannie Mae Mortgage Pool 596712		6.500%		6/01/32		Aaa		515,288
	86		Fannie Mae Mortgage Pool 656269		6.000%		8/01/32		Aaa		92,691
	70		Fannie Mae Mortgage Pool 673010		5.500%		12/01/17		Aaa		73,809
	143		Fannie Mae Mortgage Pool 695765		5.500%		4/01/18		Aaa		151,757

100 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	324	Fannie Mae Mortgage Pool 725793		5.500%		9/01/19		Aaa	$	343,183
	527	Fannie Mae Mortgage Pool 745101		6.000%		4/01/32		Aaa		567,746
	473	Fannie Mae Mortgage Pool 819652		2.665%		3/01/35		Aaa		502,713
	162	Fannie Mae Mortgage Pool 848390		1.985%		12/01/35		Aaa		170,281
	257	Fannie Mae Mortgage Pool 886034		2.764%		7/01/36		Aaa		275,057
	235	Fannie Mae Mortgage Pool 887017		6.500%		8/01/36		Aaa		248,035
	313	Fannie Mae Mortgage Pool 913187		2.522%		4/01/37		Aaa		334,618
	656	Fannie Mae Mortgage Pool 914224		2.613%		3/01/37		Aaa		697,829
	525	Fannie Mae Mortgage Pool 928519		7.000%		6/01/37		Aaa		610,222
	207	Fannie Mae Mortgage Pool 995949		2.508%		9/01/36		Aaa		219,158
	595	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2013-M3 ASQ2		1.083%		2/25/16		Aaa		598,213
	425	Fannie Mae REMIC Pass-Through Certificates 2002-W1 2A		6.814%		2/25/42		Aaa		505,791
	520	Fannie Mae REMIC Pass-Through Certificates 2009-M1 A1		3.400%		7/25/19		Aaa		544,948
	1,165	Fannie Mae REMIC Pass-Through Certificates 2010-M4 A1		2.520%		6/25/20		Aaa		1,203,623
	1,180	Fannie Mae TBA Mortgage Pool, (WI/DD)		3.500%		TBA		Aaa		1,197,884
	765	FDIC Structures Sale Guaranteed Notes, Series 2010-S1		3.250%		4/25/38		Aaa		795,420
	166	FDIC Trust 2001-C1		1.840%		4/25/31		Aaa		167,173
	282	FDIC Trust 2012-C1		0.841%		5/25/35		Aaa		282,222
	200	Federal Home Loan Mortgage Corporation, REMIC 2629 BO		3.250%		3/15/18		Aaa		205,287
	798	Freddie Mac Gold Pool C09000		3.500%		6/01/42		Aaa		809,582
	448	Freddie Mac Gold Pool 1H1396		2.375%		5/01/37		Aaa		476,359
	692	Freddie Mac Gold Pool 780836		2.356%		9/01/33		Aaa		726,556
	457	Freddie Mac Gold Pool 848193		2.682%		3/01/36		Aaa		486,478
	23	Freddie Mac Mortgage Pool, Various C35768		7.500%		1/01/30		Aaa		25,651
	7	Freddie Mac Mortgage Pool, Various E00746		7.000%		9/01/14		Aaa		6,829
	2	Freddie Mac Mortgage Pool, Various E72802		6.000%		10/01/13		Aaa		1,595
	84	Freddie Mac Mortgage Pool, Various G00876		6.500%		1/01/28		Aaa		95,255
	197	Freddie Mac Mortgage Pool, Various G01244		6.500%		3/01/31		Aaa		225,969
	591	Freddie Mac Multifamily Structured Pass-Through Certificates Series KF01		0.548%		4/25/19		Aaa		592,295
	952	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K010 A1		3.320%		7/25/20		Aaa		1,010,284
	969	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K701		2.776%		6/26/17		Aaa		1,006,616
	906	Freddie Mac Structured Pass-Through Certificates, Series K008		2.746%		12/25/19		Aaa		945,319
	460	Freddie Mac Structures Pass-Through Certificates, Series K-501		1.655%		11/25/16		Aaa		466,650
	657	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2003-1		6.699%		3/25/43		Ba3		421,787
	73	Government National Mortgage Association Pool 3120		6.500%		8/20/31		Aaa		84,031
	37	Government National Mortgage Association Pool 347332		7.500%		12/15/22		Aaa		38,617
	6	Government National Mortgage Association Pool 455304		7.000%		9/15/27		Aaa		6,888
	657	Government National Mortgage Association Pool 4946		4.500%		2/20/41		Aaa		701,319
	107	Government National Mortgage Association Pool 570134		7.500%		12/15/31		Aaa		122,685
	850	Government National Mortgage Association Pool 633605		6.000%		9/15/34		Aaa		958,905
	207	Government National Mortgage Association Pool 780825		6.500%		7/15/28		Aaa		243,262
	22	GRMT Mortgage Loan Trust 2001-1A		8.272%		7/20/31		A3		21,093

Nuveen Investments 101

Portfolio of Investments

Nuveen Intermediate Government Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	823	JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C2 A1		2.749%		11/15/43		AAA	$	849,373
	509	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3 A1		2.178%		7/16/49		Aaa		517,128
	789	National Credit Union Administration Guaranteed Structured Collateral Notes		1.600%		10/29/20		Aaa		799,558
	733	Origen Manufactured Housing Contract Trust Collateralized Notes Series 2005B		5.990%		1/15/37		A+		769,609
	87	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2011-1		4.125%		2/25/41		AAA		86,722
	88	U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2005-10B		4.940%		8/10/15		Aaa		92,415
	143	U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates Series 2005-P10A		4.638%		2/10/15		Aaa		149,542
	593	U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2008-10A		5.902%		2/01/18		Aaa		651,327
	758	U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2010-P10A		4.108%		3/10/20		Aaa		816,267
	656	United States Department of Veterans, Affairs, Guaranteed REMIC Pass-Through Certificates, Vendee Mortgage Trust, Series 2011-1		3.750%		2/15/35		Aaa		695,650
$	35,963	Total Asset-Backed and Mortgage-Backed Securities (cost $36,310,746)								37,520,364
Shares		Description (1)							Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 0.8%
		Money Market Funds – 0.8%
	500,625	Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (6), (7)							$	500,625
		Total Investments Purchased with Collateral from Securities Lending (cost $500,625)								500,625
Shares		Description (1)	Coupon						Value
		SHORT-TERM INVESTMENTS – 2.7%
		Money Market Funds – 2.7%
	1,758,968	First American Treasury Obligations Fund, Class Z		0.000% (6)					$	1,758,968
		Total Short-Term Investments (cost $1,758,968)								1,758,968
		Total Investments (cost $65,517,674) – 102.9%								66,487,662
		Other Assets Less Liabilities – (2.9)%								(1,904,393)
		Net Assets – 100%							$	64,583,269

Investments in Derivatives as of June 30, 2013

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value*			Unrealized Appreciation (Depreciation)
U.S. Treasury 2-Year Note		Long		14			9/13	$	3,080,000		$	1,444
U.S. Treasury 5-Year Note		Short		(4	)		9/13		(484,187	)		(1,338	)
U.S. Treasury 10-Year Note		Long		32			9/13		4,050,000			(85,442	)
U.S. Treasury Long Bond		Short		(29	)		9/13		(3,939,469	)		115,523
								$	2,706,344		$	30,187

* Total Notional Amount at Value of Long and Short positions were $7,130,000 and $(4,423,656), respectively.

102 Nuveen Investments

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(4)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $483,717.
(5)	Principal Amount (000) rounds to less than $1,000.
(6)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(7)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
I/O	Interest only security.
P/O	Principal only security.
TBA	To be announced. Maturity date not known prior to settlement of this transaction.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

See accompanying notes to financial statements.

Nuveen Investments 103

Portfolio of Investments

Nuveen Short Term Bond Fund

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CORPORATE BONDS – 47.2%
		Aerospace & Defense – 0.3%
$	500	Bombardier Inc., 144A		4.250%		1/15/16		BB	$	511,250
	2,000	Bombardier Inc., 144A		7.500%		3/15/18		BB		2,230,000
	2,500	Total Aerospace & Defense								2,741,250
		Airlines – 0.9%
	2,166	Delta Air Lines		5.300%		4/15/19		A		2,328,586
	2,449	Delta Air Lines Pass-Through Certificates Series 2012-1A		4.750%		5/07/20		A		2,559,520
	1,929	Delta Air Lines Pass-Through Certificates, Series 2012-1B, (3)		6.875%		5/07/19		BB+		2,035,148
	1,394	US Airways Pass-Through Trust, Pass-Through Certificates, Series 2001		7.076%		3/20/21		BBB–		1,477,519
	7,938	Total Airlines								8,400,773
		Auto Components – 0.3%
	1,500	Pittsburgh Glass Works LLC, 144A		8.500%		4/15/16		B+		1,485,000
	1,000	TRW Automotive Inc., 144A		8.875%		12/01/17		BBB–		1,062,500
	2,500	Total Auto Components								2,547,500
		Automobiles – 1.3%
	400	Chrysler GP/CG Company, (3)		8.000%		6/15/19		B1		436,500
	2,700	Daimler Finance NA LLC, 144A		1.250%		1/11/16		A–		2,682,404
	2,000	DriveTime Automotive Group Inc, DT Acceptance Corporation, 144A		12.625%		6/15/17		B3		2,140,000
	1,000	General Motors Financial Company Inc., 144A		4.750%		8/15/17		BB		1,025,000
	1,710	Jaguar Land Rover PLC, 144A		8.125%		5/15/21		BB–		1,881,000
	3,360	Volkswagen International Finance NV, 144A		1.625%		3/22/15		A–		3,399,211
	11,170	Total Automobiles								11,564,115
		Beverages – 1.3%
	2,235	Anheuser-Busch Companies Inc.		5.050%		10/15/16		A		2,507,771
	1,500	Constellation Brands Inc.		8.375%		12/15/14		BB+		1,620,000
	2,560	Dr. Pepper Snapple Group Inc.		2.900%		1/15/16		Baa1		2,665,375
	2,000	Heineken NV, 144A		1.400%		10/01/17		BBB+		1,943,204
	2,700	SABMiller Holdings Inc., 144A		1.850%		1/15/15		BBB+		2,739,296
	10,995	Total Beverages								11,475,646
		Biotechnology – 0.5%
	2,000	Genentech Inc.		4.750%		7/15/15		AA		2,157,654
	1,900	STHI Holding Corporation, 144A		8.000%		3/15/18		B		2,052,000
	3,900	Total Biotechnology								4,209,654
		Building Products – 0.3%
	750	Hanson Limited		6.125%		8/15/16		BB+		811,875
	2,000	Masco Corporation		6.125%		10/03/16		BBB–		2,160,000
	2,750	Total Building Products								2,971,875
		Capital Markets – 2.9%
	2,000	E Trade Financial Corporation		6.750%		6/01/16		B2		2,055,000
	12,030	Goldman Sachs Group, Inc.		6.250%		9/01/17		A		13,632,444
	2,645	Morgan Stanley		4.100%		1/26/15		A		2,759,174
	5,000	Morgan Stanley		1.750%		2/25/16		A		4,953,345
	2,250	Nomura Holdings Incorporated		2.000%		9/13/16		BBB+		2,224,892
	582	UBS AG Stamford		3.875%		1/15/15		A		606,559
	24,507	Total Capital Markets								26,231,414

104 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Chemicals – 1.2%
$	2,000	Dow Chemical Company		2.500%		2/15/16		BBB	$	2,061,308
	2,215	Eastman Chemical Company		2.400%		6/01/17		BBB		2,218,874
	1,875	Potash Corporation of Saskatchewan		3.750%		9/30/15		A–		1,989,334
	2,000	Rhodia SA, 144A		6.875%		9/15/20		BBB+		2,243,652
	2,750	The Sherwin-Williams Company		1.350%		12/15/17		A		2,675,090
	10,840	Total Chemicals								11,188,258
		Commercial Banks – 5.1%
	5,000	Australia and New Zealand Banking Group Limited, 144A		2.400%		11/23/16		Aaa		5,174,500
	800	Banco do Nordeste do Brasil, 144A		3.625%		11/09/15		BBB		794,560
	3,305	Bank of Nova Scotia		1.375%		12/18/17		Aa2		3,208,659
	3,615	Barclays Bank PLC		5.000%		9/22/16		A		3,993,783
	2,315	BB&T Corporation		3.200%		3/15/16		A+		2,426,419
	1,300	BBVA Bancomer SA Texas, 144A, (3)		4.500%		3/10/16		A2		1,348,750
	2,000	CIT Group Inc., 144A		4.750%		2/15/15		BB–		2,032,500
	2,000	Credit Agricole SA, 144A, (3)		3.000%		10/01/17		A+		2,025,020
	3,735	Deutsche Bank London		3.250%		1/11/16		A+		3,910,930
	1,550	Fifth Third Bancorp.		3.625%		1/25/16		A–		1,636,282
	1,500	ING Bank NV, 144A		3.750%		3/07/17		A+		1,569,960
	2,760	National Australia Bank, 144A		3.000%		7/27/16		Aa2		2,875,368
	2,000	Nordea Bank AB, 144A		3.125%		3/20/17		AA–		2,058,160
	1,000	Rabobank Nederland Utrec		3.375%		1/19/17		Aa2		1,050,229
	1,400	Rabobank Nederland		3.200%		3/11/15		Aa2		1,451,638
	705	Regions Financial Corporation		7.750%		11/10/14		BBB–		761,809
	2,000	Regions Financial Corporation		2.000%		5/15/18		BBB–		1,890,618
	2,000	Royal Bank of Scotland Group PLC		2.550%		9/18/15		A		2,033,518
	2,000	Wells Fargo & Company		1.500%		7/01/15		AA–		2,022,786
	3,755	Wells Fargo & Company		3.676%		6/15/16		AA–		4,011,910
	44,740	Total Commercial Banks								46,277,399
		Commercial Services & Supplies – 0.6%
	3,000	International Lease Finance Corporation		4.875%		4/01/15		BBB–		3,048,750
	1,815	Waste Management Inc.		2.600%		9/01/16		BBB		1,874,443
	4,815	Total Commercial Services & Supplies								4,923,193
		Computers & Peripherals – 0.4%
	3,510	Hewlett Packard Company		3.000%		9/15/16		A–		3,604,538
		Construction & Engineering – 0.4%
	1,000	ABB Finance USA Inc.		1.625%		5/08/17		A		993,418
	2,665	Caterpillar Financial Services Corporation		1.100%		5/29/15		A		2,679,471
	3,665	Total Construction & Engineering								3,672,889
		Consumer Finance – 1.1%
	505	Ally Financial Inc.		5.500%		2/15/17		BB–		527,629
	1,635	American Express Credit Corporation		1.750%		6/12/15		A+		1,657,185
	2,405	American Express Credit Corporation		2.800%		9/19/16		A+		2,496,922
	2,000	American Honda Finance Limited, 144A		1.450%		2/27/15		A+		2,020,532
	2,050	Capital One Financial Corporation		6.150%		9/01/16		BBB+		2,287,620
	1,000	Ford Motor Credit Company		8.000%		12/15/16		Baa3		1,171,137
	9,595	Total Consumer Finance								10,161,025

Nuveen Investments 105

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Containers & Packaging – 0.1%
$	1,000	Reynolds Group		7.875%		8/15/19		B+	$	1,090,000
		Diversified Financial Services – 5.8%
	12,510	Bank of America Corporation		4.500%		4/01/15		A		13,122,064
	12,390	Citigroup Inc.		4.587%		12/15/15		A		13,231,702
	2,000	Ford Motor Credit Company		2.750%		5/15/15		Baa3		2,027,980
	9,930	General Electric Capital Corporation		2.300%		4/27/17		AA+		10,067,133
	1,675	ING Bank NV, 144A, (3)		4.000%		3/15/16		A+		1,766,857
	4,500	JPMorgan Chase & Company		5.150%		10/01/15		A		4,861,890
	4,500	JPMorgan Chase & Company		3.150%		7/05/16		A+		4,673,700
	2,970	National Rural Utilities Cooperative Finance Corporation		1.900%		11/01/15		A+		3,042,257
	50,475	Total Diversified Financial Services								52,793,583
		Diversified Telecommunication Services – 1.0%
	2,195	AT&T, Inc.		0.900%		2/12/16		A		2,178,454
	2,500	British Telecommunications PLC		2.000%		6/22/15		BBB		2,549,018
	2,000	Qwest Corporation, (3)		7.500%		10/01/14		BBB–		2,152,722
	2,500	Verizon Communications, (3)		2.000%		11/01/16		A		2,547,415
	9,195	Total Diversified Telecommunication Services								9,427,609
		Electronic Equipment & Instruments – 0.2%
	1,410	Tyco Electronics Group, SA		1.600%		2/03/15		BBB+		1,420,097
		Energy Equipment & Services – 1.3%
	1,000	Cameron International Corporation		1.600%		4/30/15		BBB+		1,006,974
	3,000	Ensco PLC		3.250%		3/15/16		BBB+		3,134,769
	1,825	Noble Holding International Limited		3.450%		8/01/15		A–		1,892,109
	2,700	Pacific Drilling SA		8.250%		2/23/15		N/R		2,808,000
	3,100	Transocean Inc.		4.950%		11/15/15		BBB–		3,325,032
	11,625	Total Energy Equipment & Services								12,166,884
		Food Products – 0.9%
	2,000	Kellogg Company		1.125%		5/15/15		BBB+		2,008,598
	2,270	Kraft Foods Inc.		6.500%		8/11/17		Baa2		2,639,216
	3,000	Sara Lee Corporation		2.750%		9/15/15		BBB		3,082,653
	7,270	Total Food Products								7,730,467
		Gas Utilities – 0.2%
	1,246	Suburban Propane Partners LP, (3)		7.500%		10/01/18		BB–		1,308,300
		Health Care Equipment & Supplies – 0.2%
	2,000	Boston Scientific Corporation		6.250%		11/15/15		BBB–		2,213,508
		Health Care Providers & Services – 1.7%
	2,560	Covidien International Finance SA		1.350%		5/29/15		A		2,582,090
	3,500	Express Scripts Holding Company, 144A		3.500%		11/15/16		BBB+		3,715,376
	1,000	HCA Inc.		8.500%		4/15/19		BB+		1,073,125
	1,500	HealthSouth Corporation		8.125%		2/15/20		BB–		1,623,750
	2,650	Queat Diagnostics Inc.		5.450%		11/01/15		BBB+		2,892,849
	1,945	UnitedHealth Group Incorporated, (3)		0.850%		10/15/15		A		1,947,536
	1,750	Wellpoint Inc.		1.875%		1/15/18		A–		1,713,502
	14,905	Total Health Care Providers & Services								15,548,228

106 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Hotels, Restaurants & Leisure – 0.5%
$	2,000	CityCenter Holdings Finance		7.625%		1/15/16		BB–	$	2,110,000
	1,750	Wynn Las Vegas LLC Corporation		7.750%		8/15/20		BBB–		1,943,200
	3,750	Total Hotels, Restaurants & Leisure								4,053,200
		Independent Power Producers & Energy Traders – 0.3%
	1,250	Calpine Corporation, 144A		7.875%		7/31/20		BB+		1,356,250
	1,643	RRI Energy Inc.		7.875%		6/15/17		B+		1,745,688
	2,893	Total Independent Power Producers & Energy Traders								3,101,938
		Insurance – 2.3%
	3,380	AFLAC Insurance		2.650%		2/15/17		A–		3,460,691
	2,736	Allied World Assurance Holdings Limited		7.500%		8/01/16		A–		3,153,314
	4,945	American International Group, Inc.		4.875%		9/15/16		A–		5,416,580
	2,000	Hartford Financial Services Group Inc.		4.000%		3/30/15		BBB		2,091,172
	2,000	Lincoln National Corporation		4.300%		6/15/15		A–		2,121,042
	3,600	Prudential Covered Trust, 144A		2.997%		9/30/15		A		3,714,912
	1,000	Security Benefit Life Insurance Company, 144A		8.750%		5/15/16		BBB		1,143,186
	19,661	Total Insurance								21,100,897
		Internet & Catalog Retail – 0.3%
	2,695	Amazon.com Incorporated		1.200%		11/29/17		AA–		2,606,426
		IT Services – 0.3%
	2,500	Computer Sciences Corporation, (3)		2.500%		9/15/15		BBB		2,548,848
		Life Sciences Tools & Services – 0.3%
	1,250	Thermo Fischer Scientific Inc.		3.200%		5/01/15		Baa1		1,290,628
	1,745	Thermo Fischer Scientific Inc.		2.250%		8/15/16		Baa1		1,770,578
	2,995	Total Life Sciences Tools & Services								3,061,206
		Media – 2.0%
	1,570	DIRECTV Holdings LLC, (3)		3.550%		3/15/15		BBB		1,629,933
	2,000	DIRECTV Holdings LLC		3.125%		2/15/16		BBB		2,075,520
	2,000	Dish DBS Corporation, 144A		4.250%		4/01/18		BB–		1,960,000
	1,500	LIN Television Corporation		8.375%		4/15/18		B		1,595,625
	4,000	NBC Universal Media LLC		3.650%		4/30/15		A–		4,202,948
	1,000	News America Holdings Inc.		5.300%		12/15/14		BBB+		1,063,957
	1,000	TCM Sub LLC		3.550%		1/15/15		A–		1,035,872
	1,025	Time Warner Cable Inc.		8.250%		2/14/14		BBB		1,071,977
	1,500	Virgin Media Finance PLC		8.375%		10/15/19		B		1,627,500
	2,140	Vivendi SA		2.400%		4/10/15		BBB		2,177,664
	17,735	Total Media								18,440,996
		Metals & Mining – 2.3%
	1,000	APERAM, 144A, (3)		7.375%		4/01/16		B+		970,000
	3,680	ArcelorMittal, (3)		4.250%		3/01/16		BB+		3,698,400
	2,500	Cliffs Natural Resources Inc., (3)		3.950%		1/15/18		BBB–		2,388,520
	1,500	Evraz Group S.A., 144A		8.250%		11/10/15		BB–		1,577,895
	2,200	Freeport McMoRan Copper & Gold, Inc.		2.150%		3/01/17		BBB		2,153,338
	1,735	Rio Tinto Finance USA PLC, (3)		1.625%		8/21/17		A–		1,701,665
	2,000	Teck Resources Limited		3.850%		8/15/17		BBB		2,076,124
	2,000	United States Steel Corporation, (3)		6.050%		6/01/17		BB–		2,080,000

Nuveen Investments 107

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Metals & Mining (continued)
$	1,175	Vale Overseas Limited		6.250%		1/11/16		A–	$	1,295,873
	2,500	Xstrata Finance Canada Limited, 144A, (3)		3.600%		1/15/17		BBB		2,519,590
	20,290	Total Metals & Mining								20,461,405
		Multiline Retail – 0.4%
	3,397	Federated Retail Holdings Inc., Macy’s Inc., (3)		5.900%		12/01/16		BBB		3,858,839
		Multi-Utilities – 0.3%
	2,665	Sempra Energy		2.300%		4/01/17		BBB+		2,699,197
		Oil, Gas & Consumable Fuels – 4.2%
	2,075	Anadarko Petroleum Corporation		5.950%		9/15/16		BBB–		2,327,474
	1,000	Anadarko Petroleum Corporation		6.375%		9/15/17		BBB–		1,149,980
	2,505	BP Capital Markets PLC		2.248%		11/01/16		A		2,565,225
	2,000	CNOOC Finance 2013 Limited		1.125%		5/09/16		AA–		1,967,600
	2,000	Crosstex Energy Finance		8.875%		2/15/18		B+		2,120,000
	2,000	El Paso Pipeline Partners Operating Company LLC		4.100%		11/15/15		BBB–		2,125,626
	1,500	Kinder Morgan Finance Company ULC, (3)		5.700%		1/05/16		BB		1,606,644
	3,000	Marathon Petroleum Corporation		3.500%		3/01/16		BBB		3,149,136
	1,500	PBF Holding Company LLC		8.250%		2/15/20		BB+		1,571,250
	2,685	Petrobras International Finance Company		2.875%		2/06/15		A3		2,709,200
	2,500	Petrohawk Energy Corporation		7.250%		8/15/18		A		2,727,500
	4,345	Phillips 66, (3)		2.950%		5/01/17		Baa1		4,478,035
	2,000	Regency Energy Partners Finance, (3)		6.500%		7/15/21		BB		2,090,000
	1,852	Sabine Pass LNG LP		7.500%		11/30/16		BB+		1,993,215
	2,545	Total Capital SA, (3)		2.300%		3/15/16		Aa1		2,627,776
	2,515	TranCanada Pipelines Limited		0.750%		1/15/16		A–		2,486,575
	36,022	Total Oil, Gas & Consumable Fuels								37,695,236
		Paper & Forest Products – 0.1%
	1,000	Sappi Papier Holding GMBH, 144A		8.375%		6/15/19		BB		1,055,000
		Personal Products – 0.3%
	2,000	International Paper Company		7.950%		6/15/18		BBB		2,448,840
		Pharmaceuticals – 1.1%
	2,000	AbbVie Inc., 144A		1.200%		11/06/15		A+		2,002,198
	3,600	Merck & Company Inc.		2.250%		1/15/16		AA		3,719,221
	2,000	Watson Pharmaceuticals Inc.		1.875%		10/01/17		BBB		1,949,720
	1,000	Zoetis Incorporated, 144A		1.150%		2/01/16		Baa2		996,603
	1,500	Zoetis Incorporated, 144A		1.875%		2/01/18		Baa2		1,468,427
	10,100	Total Pharmaceuticals								10,136,169
		Real Estate Investment Trust – 1.7%
	2,000	DuPont Fabros Technology LP		8.500%		12/15/17		Ba1		2,110,000
	1,000	FelCor Lodging LP		6.750%		6/01/19		B2		1,045,000
	2,000	First Industrial Realty Trust		5.950%		5/15/17		BB+		2,111,718
	3,395	Health Care REIT Inc.		3.625%		3/15/16		BBB		3,559,868
	2,000	Omega Healthcare Investors Inc.		6.750%		10/15/22		BBB–		2,130,000
	2,000	Simon Property Group, L.P.		4.200%		2/01/15		A		2,083,350
	2,000	Ventas Realty LP		3.125%		11/30/15		BBB+		2,092,954
	14,395	Total Real Estate Investment Trust								15,132,890

108 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Road & Rail – 0.5%
$	2,655	Asciano Finance Limited, 144A		3.125%		9/23/15		Baa2	$	2,713,025
	2,000	Avis Budget Car Rental, (3)		8.250%		1/15/19		BB–		2,175,000
	4,655	Total Road & Rail								4,888,025
		Semiconductors & Equipment – 0.5%
	2,000	Freescale Semiconductor Inc.		9.250%		4/15/18		B1		2,155,000
	1,000	National Semiconductor Corporation		3.950%		4/15/15		A+		1,056,900
	1,000	NXP BV, 144A, (3)		3.750%		6/01/18		B+		980,000
	4,000	Total Semiconductors & Equipment								4,191,900
		Tobacco – 0.8%
	2,000	BAT International Finance PLC, 144A		2.125%		6/07/17		A–		2,005,940
	3,000	Lorillard Tobacco		2.300%		8/21/17		Baa2		2,962,272
	1,860	Reynolds American Inc.		1.050%		10/30/15		Baa2		1,859,477
	6,860	Total Tobacco								6,827,689
		Trading Companies & Distributors – 0.1%
	1,000	GATX Corporation		4.750%		5/15/15		BBB		1,051,774
		Transportation Infrastructure – 0.2%
	2,000	Penske Truck Leasing, 144A		3.125%		5/11/15		BBB+		2,066,602
		Wireless Telecommunication Services – 0.7%
	2,000	America Movil S.A. de C.V.		2.375%		9/08/16		A2		2,026,418
	2,000	Crown Castle Towers LLC		4.523%		1/15/15		A2		2,093,386
	2,170	Deutsche Telekom International Finance BV		5.750%		3/23/16		BBB+		2,412,316
	6,170	Total Wireless Telecommunication Services								6,532,120
$	409,334	Total Corporate Bonds (cost $424,246,081)								427,627,402
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CONVERTIBLE BONDS – 0.2%
		Leisure Equipment & Products – 0.2%
$	2,000	Hasbro Inc.		6.300%		9/15/17		BBB+	$	2,283,750
$	2,000	Total Convertible Bonds (cost $2,281,350)								2,283,750
Principal Amount (000)		Description (1)			Optional Call Provisions (4)		Ratings (2)		Value
		MUNICIPAL BONDS – 3.5%
		Arizona – 0.5%
		Phoenix Civic Improvement Corporation, Arizona, Excise Tax Revenue Bonds, Taxable Series 2011:
$	2,800	2.302%, 7/01/14				No Opt. Call		AA	$	2,830,240
	2,000	2.828%, 7/01/15				No Opt. Call		AA		2,055,080
	4,800	Total Arizona								4,885,320
		California – 0.4%
	1,015	California State, General Obligation Bonds, Various Purpose Build America Taxable Bond Series 2010, 5.750%, 3/01/17				No Opt. Call		A1		1,153,375
	2,640	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Taxable Second Series 2011E, 2.021%, 5/01/14				No Opt. Call		A+		2,660,011
	3,655	Total California								3,813,386

Nuveen Investments 109

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)			Optional Call Provisions (4)		Ratings (2)		Value
		Guam – 0.3%
		Government of Guam, Business Privilege Tax Bonds, Taxable Series 2012B-2:
$	1,155	2.933%, 1/01/17				No Opt. Call		A	$	1,130,075
	1,190	3.301%, 1/01/18				No Opt. Call		A		1,155,276
	2,345	Total Guam								2,285,351
		Massachusetts – 0.4%
		Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project Series 3011B:
	3,260	1.910%, 7/01/14				No Opt. Call		A		3,271,084
	400	3.230%, 7/01/15				No Opt. Call		A		411,192
	3,660	Total Massachusetts								3,682,276
		Michigan – 0.1%
	870	Wayne County, Michigan, General Obligation Bonds, Taxable Notes Series 2011, 5.000%, 9/15/13				No Opt. Call		BBB		870,505
		Minnesota – 0.4%
	4,000	Tobacco Securitization Authority, Minnesota, Tobacco Settlement Revenue Bonds, Taxable Series 2011A, 2.643%, 3/01/14				No Opt. Call		AA+		4,045,080
		Nevada – 0.3%
	2,500	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Taxable Series 2011B, 3.176%, 6/01/17				No Opt. Call		AA+		2,600,400
		Ohio – 0.2%
	1,470	Ohio State, General Obligation Bonds, Higher Education, Build America Bond Series 2010E, 3.328%, 8/01/17 – AGM Insured				No Opt. Call		AA+		1,548,880
		Pennsylvania – 0.2%
	1,500	Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, Taxable Series 2012B, 4.120%, 5/01/16				No Opt. Call		Baa2		1,540,095
		Texas – 0.7%
	1,500	Dallas Fort Worth International Airport Facility Improvement Corporation, Texas, Learjet Inc. Project, Revenue Bonds, Series 2001-A1, 6.150%, 1/01/16 (Alternative Minimum Tax)				7/13 at 100.00		Ba2		1,487,475
	5,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Taxable Series 2011E, 1.770%, 11/01/14				No Opt. Call		A+		5,044,150
	6,500	Total Texas								6,531,625
$	31,300	Total Municipal Bonds (cost $31,504,409)								31,802,918
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 3.5%
$	5,000	Fannie Mae Notes		0.500%		3/30/16		Aaa	$	4,971,980
	15,000	Federal Home Loan Bank Bonds		1.375%		5/28/14		Aaa		15,157,110
	380	U.S. Treasury Notes		1.875%		2/28/14		Aaa		384,349
	900	U.S. Treasury Notes		0.250%		1/31/15		Aaa		899,825
	10,000	U.S. Treasury Notes		0.875%		1/31/17		Aaa		9,984,380
	55	U.S. Treasury Securities, STRIPS (I/O)		0.000%		5/15/14		Aaa		54,931
$	31,335	Total U.S. Government and Agency Obligations (cost $31,421,740)								31,452,575

110 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 47.7%
$	1,185	Ally Auto Receivables Trust, Asset Backed Notes, Series 2010-1		2.300%		12/15/14		AAA	$	1,188,957
	2,500	American Express Credit Card Trust 2012-2 A		0.680%		3/15/18		AAA		2,496,230
	5,170	American Tower Company, 144A		1.551%		3/15/43		Aaa		5,080,440
	4,770	AmeriCold LLC Trust, Series 2010		2.500%		1/17/29		AAA		4,717,105
	1,050	AmeriCredit Automobile Receivables Trust, Series 2010-4		1.990%		10/08/15		Aaa		1,053,875
	39	Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Through Certificates, Series 2005-R9		0.423%		11/25/35		AA+		38,746
	763	Amortizing Residential Collateral Trust Series 2002-BC4 M1		1.243%		7/25/32		BBB+		711,568
	850	Bank of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2005-4		4.933%		7/10/45		AAA		905,977
	2,684	Bayview Opportunity Master Fund Trust IIB, Series 2012-4NPL		3.475%		7/28/32		N/R		2,690,637
	3,519	Bayview Opportunity Master Fund Trust, 2013-8NPL		3.228%		3/28/33		N/R		3,508,718
	4,970	Cabela’s Master Credit Card Trust, Series 2010-1A		1.643%		1/15/18		AAA		5,051,642
	4,290	Cabela’s Master Credit Card Trust, Series 2010-2A		2.290%		9/15/18		AAA		4,412,424
	3,000	Cabela’s Master Credit Card Trust, Series 2011-A2, 144A		0.723%		2/18/20		AAA		2,998,416
	3,439	CAM Mortgage Trust 2013-1		3.967%		11/25/57		N/R		3,395,821
	3,000	Capital One Multi-Asset Execution Trust, Cards Series 2006-A11 A11		0.283%		6/15/19		AAA		2,977,521
	5,856	CarFinance Capital Auto Trust, Automobile Receivables-Backed Notes, Series 2013-1, 144A		1.650%		7/17/17		A3		5,837,058
	575	CarMax Auto Owner Trust 2010-3		2.000%		5/16/16		Aaa		583,662
	286	Carmax Auto Owners Trust Series 2013-1 A1		0.200%		2/17/14		A-1+		285,541
	141	CarNow Auto Receivables Trust 2012-1A		2.090%		1/15/15		AA		141,339
	4,000	CarNow Auto Receivables Trust 2013-1A		1.160%		10/16/17		AA		3,996,172
	3,143	CenterPoint Energy Restoration Bond Company LLC, Senior Secured System Restoration Bonds, Series 2009-1		1.833%		2/15/16		AAA		3,178,157
	2,955	Centerpoint Energy Transition Bond Company LLC		0.901%		4/15/18		AAA		2,956,580
	605	Citicorp Mortgage Securities I, REMIC Pass-Through Certificates, Series 2007-9		5.500%		12/25/22		Ba3		610,898
	877	Citicorp Mortgage Securities Inc., REMIC Pass-Through Certificates, Series 2006-1 5A1		5.500%		2/25/26		Caa1		897,174
	6,500	Citigroup Commercial Mortgage Trust Series 2012-GC8		1.813%		9/12/45		Aaa		6,486,493
	3,250	Citigroup Mortgage Loan Trust Inc., Mortgage Pass-Through Certificates, Series 2010-10		4.778%		12/27/32		BBB–		3,231,932
	1,865	Countrywide ABS Asset-Backed Certificate Trust 2007-9		0.323%		6/25/47		B–		1,836,943
	884	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB		6.000%		8/25/36		Caa3		752,207
	4,250	Countrywide Asset Backed Certificates, Series 2007-4 A2		5.530%		3/25/29		Caa1		3,959,870
	391	Countrywide Asset-Backed Certificates Trust, Series 2005-16 2AF2		5.189%		2/25/30		Caa3		384,718
	822	Countrywide Asset-Backed Certificates Trust, Series 2006-25		0.313%		6/25/47		AAA		816,564
	233	Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-2		2.762%		2/25/34		A		216,639
	2,411	Countrywide Home Loans, Asset Backed Certificates Series 2007-7		0.353%		10/25/47		AAA		2,349,685
	5,000	Credit Suisse Commercial Mortgage Trust 2013-IVR4		3.000%		7/25/43		AAA		4,964,060
	695	Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-23		5.750%		9/25/33		AA+		732,278
	788	CS First Boston Mortgage Securities Corporation, Commercial Mortgage Pass- Through Certificates, Series 2004-C1		4.750%		1/15/37		AAA		794,718
	2,405	DBUBS Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-LC3A		3.642%		8/12/44		Aaa		2,539,300

Nuveen Investments 111

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	700	Developers Diversified Realty Corporation, Commercial Mortgage Pass-Through Certificates Series 2009-DDR1		5.730%		10/17/22		AAA	$	730,655
	4,000	Discover Card Master Trust Series 2013-A1		0.493%		8/17/20		AAA		3,951,412
	1,710	Entergy Arkansas Restoration Funding LLC, Senior Secured Storm Recovery Bonds, Series 2010-A		2.300%		8/01/21		AAA		1,754,252
	4,221	Entergy Louisiana Investment Recovery Funding LLC, Series 2011-A		2.040%		9/01/23		AAA		4,255,228
	2,271	Entergy Texas Restoration Funding LLC		2.120%		2/01/16		AAA		2,297,267
	74	Equivantage Acceptance Corporation, Home Equity Loan Asset-Backed Certificates, Series 1996-4		7.250%		1/25/28		BB+		73,744
	2,215	Extended Stay America Trust 2013-ESFL		0.994%		12/05/31		AAA		2,209,144
	4,435	Extended Stay America Trust 2013-ESFL		0.894%		12/05/31		AAA		4,412,710
	1,765	Fannie Mae Mortgage Interest Strips 366 25 (I/O)		5.000%		9/01/24		Aaa		154,353
	1,671	Fannie Mae Mortgage Pool AD0486		2.352%		4/01/34		Aaa		1,774,017
	1,188	Fannie Mae Mortgage Pool AD0550		2.577%		8/01/37		Aaa		1,262,405
	1,275	Fannie Mae Mortgage Pool AD0706		2.302%		3/01/38		Aaa		1,354,790
	2,082	Fannie Mae Mortgage Pool AE0058		2.358%		7/01/36		Aaa		2,210,465
	6,189	Fannie Mae Mortgage Pool AL2720		3.000%		11/01/27		Aaa		6,373,902
	6,472	Fannie Mae Mortgage Pool AO9636		2.500%		7/01/27		Aaa		6,520,135
	2,723	Fannie Mae Mortgage Pool MA0771		3.500%		6/01/21		Aaa		2,846,900
	55	Fannie Mae Mortgage Pool 255039		4.000%		12/01/13		Aaa		58,166
	253	Fannie Mae Mortgage Pool 433988		2.217%		11/01/25		Aaa		260,764
	803	Fannie Mae Mortgage Pool 535363		5.073%		12/01/31		Aaa		867,214
	98	Fannie Mae Mortgage Pool 545717		2.176%		5/01/32		Aaa		104,515
	10	Fannie Mae Mortgage Pool 545791		2.360%		3/01/32		Aaa		10,923
	147	Fannie Mae Mortgage Pool 555369		2.355%		8/01/36		Aaa		155,922
	158	Fannie Mae Mortgage Pool 625338		2.225%		6/01/31		Aaa		168,110
	125	Fannie Mae Mortgage Pool 634948		2.415%		5/01/32		Aaa		126,587
	25	Fannie Mae Mortgage Pool 661645		2.596%		10/01/32		Aaa		25,889
	171	Fannie Mae Mortgage Pool 671884		2.630%		12/01/32		Aaa		172,905
	1,598	Fannie Mae Mortgage Pool 725721		2.510%		6/01/34		Aaa		1,692,239
	1,004	Fannie Mae Mortgage Pool 745922		2.676%		7/01/35		Aaa		1,066,285
	134	Fannie Mae Mortgage Pool 775389		2.258%		4/01/34		Aaa		135,557
	1,302	Fannie Mae Mortgage Pool 795242		2.040%		7/01/34		Aaa		1,377,940
	1,087	Fannie Mae Mortgage Pool 797182		2.323%		11/01/34		Aaa		1,139,993
	2,125	Fannie Mae Mortgage Pool 819652		2.665%		3/01/35		Aaa		2,259,457
	104	Fannie Mae Mortgage Pool 838948		1.939%		8/01/35		Aaa		109,365
	847	Fannie Mae Mortgage Pool 838958		2.368%		8/01/35		Aaa		900,591
	1,149	Fannie Mae Mortgage Pool 841068		2.492%		11/01/34		Aaa		1,236,657
	433	Fannie Mae Mortgage Pool 848390		1.985%		12/01/35		Aaa		454,083
	528	Fannie Mae Mortgage Pool 886034		2.764%		7/01/36		Aaa		565,117
	517	Fannie Mae Mortgage Pool 995949		2.508%		9/01/36		Aaa		547,896
	1,602	Fannie Mae Multifamily REMIC Trust 2010-M6, Guaranteed Pass-Through Certificates 2010-M6 A1		2.210%		9/25/20		Aaa		1,640,267
	8,222	Fannie Mae Multifamily REMIC Trust 2011-M3, Guaranteed Pass-Through Certificates 2011-M3 A1		2.072%		7/25/21		Aaa		8,407,494
	2,890	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2013-M3 ASQ2		1.083%		2/25/16		Aaa		2,905,606

112 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	34	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 1992-150 MA		5.500%		9/25/22		Aaa	$	37,179
	247	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2003-122 AJ		4.500%		2/25/28		Aaa		247,508
	553	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2004-90 GA		4.350%		3/25/34		Aaa		565,471
	1,299	Fannie Mae Real Estate Mortgage Investment Conduit, Pass-Through Certificates 2004-90 GF		0.493%		11/25/34		Aaa		1,301,569
	1,084	Fannie Mae REMIC Pass-Through Certificates 2010-M1 A1		3.305%		9/25/19		Aaa		1,132,205
	1,553	Fannie Mae REMIC Pass-Through Certificates 2011-6 BA		2.750%		6/25/20		Aaa		1,610,122
	10,000	Fannie Mae TBA Mortgage Pool, (WI/DD)		3.000%		TBA		Aaa		10,285,938
	15,000	Fannie Mae TBA Mortgage Pool, (WI/DD)		2.500%		TBA		Aaa		15,086,718
	3,005	FDIC Structures Sale Guaranteed Notes, Series 2010-S1		3.250%		4/25/38		Aaa		3,125,267
	1,970	FDIC Structures Sale Guaranteed Notes, Series 2010-S1		0.744%		2/25/48		Aaa		1,967,329
	1,507	FDIC Trust 2001-C1		1.840%		4/25/31		Aaa		1,521,439
	2,819	FDIC Trust 2012-C1		0.841%		5/25/35		Aaa		2,822,221
	12	Federal Home Loan Mortgage Corporation, REMIC 1022 J		6.000%		12/15/20		Aaa		12,848
	766	Federal Home Loan Mortgage Corporation, REMIC 2629 BO		3.250%		3/15/18		Aaa		785,224
	2,500	Fifth Third Auto Trust, Series 2013 A B		1.210%		4/15/19		A		2,461,973
	710	Ford Credit Auto Owner Trust 10A		2.930%		11/15/15		AAA		727,031
	1,480	Ford Credit Floorplan Master Owner Trust Series 2010-3		4.200%		2/15/17		AAA		1,557,941
	3,230	Fosse Master Issuer PLC, Residential Mortgage Pool, Series 2011-1A		1.677%		10/19/54		AAA		3,261,149
	463	Freddie Mac Gold Pool 780456		2.347%		5/01/33		Aaa		493,160
	989	Freddie Mac Gold Pool 780911		2.414%		10/01/33		Aaa		1,052,665
	1,024	Freddie Mac Gold Pool 781296		2.362%		3/01/34		Aaa		1,085,157
	236	Freddie Mac Gold Pool 786591		2.482%		12/01/26		Aaa		252,606
	140	Freddie Mac Gold Pool 786853		2.260%		10/01/29		Aaa		147,235
	201	Freddie Mac Gold Pool 846946		2.353%		1/01/29		Aaa		214,092
	81	Freddie Mac Gold Pool 847014		1.994%		5/01/30		Aaa		82,352
	118	Freddie Mac Gold Pool 847063		2.481%		10/01/32		Aaa		126,249
	941	Freddie Mac Gold Pool 847241		2.308%		10/01/30		Aaa		1,001,218
	1,728	Freddie Mac Gold Pool 847331		2.252%		8/01/32		Aaa		1,831,959
	105	Freddie Mac Gold Pool 847367		2.194%		6/01/31		Aaa		110,785
	574	Freddie Mac Gold Pool 847652		2.308%		9/01/32		Aaa		600,043
	1,840	Freddie Mac Gold Pool 848193		2.682%		3/01/36		Aaa		1,956,013
	1,976	Freddie Mac Gold Pool 848282		2.425%		6/01/38		Aaa		2,094,237
	225	Freddie Mac Gold Pool 972055		3.772%		4/01/30		Aaa		240,107
	226	Freddie Mac Mortgage Pool, Various M30035		4.500%		4/01/22		Aaa		234,872
	1,248	Freddie Mac Multi-Class Certificates 3780 FE		0.593%		12/15/20		Aaa		1,256,177
	675	Freddie Mac Non Gold Participation Certificates 1L1462		2.291%		8/01/36		Aaa		710,046
	6,998	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2001-ALF		2.716%		2/12/21		AAA		7,059,427
	15,000	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-GG10, (3)		5.982%		8/10/45		A		16,715,370
	5,211	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2010-C1		3.679%		8/12/43		Aaa		5,521,540
	5,000	Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2011-GC3		3.645%		3/11/44		Aaa		5,274,795

Nuveen Investments 113

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	2,130	Goldman Sachs Mortgage Securities Corporation, Commercial Mortgage Pass- Through Certificates, Series 2011-GC5		2.999%		8/10/44		Aaa	$	2,218,472
	1,821	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-AR1		3.185%		1/25/35		CC		415,516
	619	Government National Mortgage Association, Guaranteed REMIC Pass-Through Securities and MX Securities Trust		4.500%		5/16/38		Aaa		647,732
	115	Government National Mortgage Association Pool 8006		1.750%		7/20/22		Aaa		119,761
	20	Government National Mortgage Association Pool 80106		1.750%		8/20/27		Aaa		21,119
	31	Government National Mortgage Association Pool 80154		1.625%		1/20/28		Aaa		32,246
	86	Government National Mortgage Association Pool 80283		1.750%		5/20/29		Aaa		90,140
	155	Government National Mortgage Association Pool 80469		1.625%		11/20/30		Aaa		161,926
	49	Government National Mortgage Association Pool 80507		1.750%		4/20/31		Aaa		50,865
	189	Government National Mortgage Association Pool 80535		1.750%		8/20/31		Aaa		197,709
	37	Government National Mortgage Association Pool 80580		1.625%		2/20/32		Aaa		38,307
	69	Government National Mortgage Association Pool 8699		1.750%		9/20/25		Aaa		71,721
	80	Government National Mortgage Association Pool 8824		2.000%		8/20/21		Aaa		83,936
	56	Government National Mortgage Association Pool 8847		1.750%		4/20/26		Aaa		58,406
	4,250	GraceChurch Card PLC. Series 2012-1A		0.893%		2/15/17		AAA		4,279,193
	4,076	GraceChurch Mortgage Financing PLC, Series 2011-1A		1.824%		11/20/56		AAA		4,145,254
	7,050	Greenwich Capital Commercial Funding Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-GG11, (3)		5.736%		12/10/49		AAA		7,895,704
	3,750	Holmes Master Issuer PLC, Residential Mortgage Pool, Series 2012-1A, 144A		1.927%		10/15/54		AAA		3,815,096
	5,100	Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2012-T1		0.898%		1/15/44		AAA		5,082,150
	1,000	Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2012-T2		1.340%		10/15/43		AAA		999,600
	500	Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2012-T2		4.940%		10/15/45		BBB		514,850
	2,250	Home Loan Servicing Solutions, HLSS Servicer Advance Receivables Backed Notes 2013-T2		1.147%		5/16/44		AAA		2,244,713
	856	IMC Home Mortgage Company, Home Equity Loan Pass-Through Certificates, Series 1998-3		7.220%		8/20/29		AA–		860,369
	4,508	Impac Secured Assets Corporation, Mortgage Pass-Through Certificates, Series 2006-5 2A		0.393%		12/25/36		Baa2		3,868,529
	328	IndyMac INDX Mortgage Loan Trust, Pass-Through Certificates, Series 2005-AR1		2.630%		3/25/35		BBB+		320,537
	4,028	JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C1		3.853%		6/15/43		Aaa		4,207,510
	3,369	JPMorgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2010-C2 A1		2.749%		11/15/43		AAA		3,475,894
	7,195	JPMorgan Chase Commercial Mortgage Securities Corporation, Pass-Through Certificates Trust 2013-FL3		0.893%		4/15/28		AAA		7,170,407
	7,040	JPMorgan Chase Commercial Mortgage Securities Trust Pass-Through Certificates Series 2013-JWRZ		0.973%		4/15/30		Aaa		7,020,457
	4,977	JPMorgan Chase Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C4		1.525%		7/17/46		AAA		5,008,894
	2,758	Merrill Lynch Mortgage Investors Inc., C-BASS Mortgage Loan Asset Backed Certificates Series 2004-CB8		4.658%		12/25/31		AAA		2,816,566

114 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	1,113	Merrill Lynch Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C1 A2		5.827%		5/12/39		AAA	$	1,114,148
	559	Morgan Stanley ABS Capital I Inc., Mortgage Pass-Through Certificates, Series 2007-NC2		0.303%		2/25/37		B3		296,887
	946	Morgan Stanley Capital I Inc Trust, Mortgage Pass-Through Certificates, Series 2006-NC2		0.373%		2/25/36		B–		929,423
	4,650	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C1		2.602%		9/15/47		AAA		4,736,090
	230	Mortgage Asset Securitization Transaction Inc., Alternative Loan Trust Mortgage Pass-Through Certificates, Series 2004-13		8.000%		1/25/35		B+		237,566
	1,657	Mortgage Asset Securitization Transaction Inc., Adjustable Rate Mortgage Pass-Through Certificates, Series 2003-5		2.092%		11/25/33		A+		1,585,313
	2,233	Mortgage Equity Conversion Asset Trust 2010-1A		4.000%		7/25/60		AA		2,121,210
	5,000	Motel 6 Trust 2012-MTL6		1.948%		10/07/25		AAA		4,902,205
	2,000	Motor PLC 12 A A1C		1.286%		2/25/20		Aaa		2,003,642
	1,218	National Credit Union Administration, Guaranteed Notes Series 2011-R1		0.648%		1/08/20		Aaa		1,226,168
	1,042	National Credit Union Administration Guaranteed Structured Collateral Notes		2.900%		10/29/20		Aaa		1,087,591
	1,185	National Credit Union Administration, Guaranteed Notes, Series 2010-R1		1.840%		10/07/20		Aaa		1,188,279
	1,757	Nationstar Agency Fund Trust, Series 2013-T1A FT1		5.926%		2/15/45		A		1,751,465
	1,465	Newcastle Investment Trust, Manufactured Housing Contracts and Loans, Series 2010-MH1		4.500%		7/10/35		AAA		1,482,682
	2,232	Newcastle Investment Trust, Manufactured Housing Loans, Series 2011-MH1		2.450%		12/10/33		AAA		2,265,466
	3,619	Nissan Auto Lease Trust, Series 2011-B		0.920%		2/16/15		Aaa		3,622,785
	4,472	Park Place Securities Inc., Asset Backed Pass-Through Certificates Series 2005-WCH1		0.713%		1/25/35		AA		4,385,725
	5,518	Residential Asset Mortgage Products, Pass-Through Certificates, 2006-RZ4		0.373%		10/25/35		B1		5,026,548
	421	RBSSP Resecuritization Trust 2009-10		0.293%		3/26/37		N/R		216,676
	1,843	RBSSP Resecuritization Trust 2010-10		0.323%		9/26/36		N/R		1,680,665
	4,936	RBSSP Resecuritization Trust, Series 2012-8 1A1		0.319%		10/28/36		N/R		4,655,283
	2,710	Santander Drive Auto Receivables Trust Series 2011-4		2.900%		5/16/16		Aa1		2,756,601
	1,399	Santander Drive Auto Receivables Trust, Series 2011-1		1.280%		1/15/15		Aaa		1,399,585
	3,420	SBA Tower Trust		3.598%		4/15/43		BBB		3,384,039
	4,144	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2013-1 1A1		1.450%		2/25/43		Aaa		3,999,861
	456	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2007-1		2.576%		2/20/47		CCC		379,750
	1,288	SMA Issuer LLC 2012-LV1		3.500%		8/20/25		Baa3		1,293,563
	2,494	SMART Trust, Asset Backed Securities, Series 2011-1USA		1.043%		10/14/14		Aaa		2,496,587
	3,168	Springleaf Mortgage Loan Trust 2011-1		4.050%		1/25/58		AAA		3,273,567
	2,531	Springleaf Mortgage Loan Trust, Series 2012-3		1.570%		12/25/59		AAA		2,543,719
	6,806	Springleaf Mortgage Loan Trust, Series 2013-1A		1.270%		6/25/58		AAA		6,818,319
	3,836	Stanwich Mortgage Loan Trust, Series 2012-NPL5		2.981%		10/16/42		N/R		3,842,229
	168	Structured Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2004-11		2.645%		8/25/34		Ba3		163,143
	805	Thornburg Mortgage Securities Trust, Mortgage Loan Pass-Through Certificates, Series 2007-4		6.098%		9/25/37		BBB+		831,349

Nuveen Investments 115

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	1,091		U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2005-10B		4.940%		8/10/15		Aaa	$	1,143,057
	651		U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates Series 2005-P10A		4.638%		2/10/15		Aaa		682,855
	372		U.S. Small Business Administration Guaranteed Participating Securities Participation Certificates, Series 2006-10A		5.408%		2/10/16		Aaa		392,674
	262		U.S. Small Business Administration Guaranteed Participating Securities, Participation Certificates, Series 2007-10A		5.459%		2/10/17		Aaa		286,864
	4,250		UBS-Barclays Commercial Mortgage Trust 2012-C2		1.006%		5/11/63		Aaa		4,245,450
	4,157		Vornado DP LLC Commercial Mortgage Credit Tenant Lease Series 2010-VNO		2.970%		9/14/28		AAA		4,328,552
	1,558		Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-WHl8		0.273%		6/15/20		Aaa		1,544,735
	4,177		Walter Investment Management Company Capital Trust, Series 2012-AA		4.549%		10/16/50		BBB		4,176,178
	67		Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2006-3		5.500%		3/25/36		B2		66,650
	1,261		Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2006-AR14		2.636%		10/25/36		Caa2		1,084,862
	764		Wells Fargo Mortgage Backed Securities Trust, Mortgage Pass-Through Certificate Series 2007-2		5.750%		3/25/37		Caa2		691,795
	33		Wells Fargo Mortgage Backed Securities, 2005-AR16 Class 3A2		2.682%		10/25/35		BBB–		32,837
	4,901		Wells Fargo-RBS Commercial Mortgage Trust Series 2012-C9		0.673%		11/17/45		Aaa		4,844,455
	4,258		Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C3		1.988%		3/17/44		Aaa		4,319,649
	2,754		WF-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2011-C2		2.501%		2/18/44		Aaa		2,796,831
	575		World Omni Auto Receivables Trust, Series 2010-A		2.210%		5/15/15		AAA		577,792
$	431,251		Total Asset-Backed Securities (cost $432,315,421)								432,767,167
Principal Amount (000) (5)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			SOVEREIGN DEBT – 0.5%
			Mexico – 0.5%
	510	MXN	United Mexican States		9.500%		12/18/14		A–	$	4,229,614
			Total Sovereign Debt (cost $4,610,377)								4,229,614
Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			STRUCTURED NOTES – 0.2%
$	1,750		FDIC Structured Sales Guaranteed Notes, Series 2010-L1A		0.000%		10/25/13		Aaa	$	1,748,880
$	1,750		Total Structured Notes (cost $1,738,022)								1,748,880
Shares			Description (1)							Value
			INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 4.8%
			Money Market Funds – 4.8%
	43,179,225		Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (6), (7)							$	43,179,225
			Total Investments Purchased with Collateral from Securities Lending (cost $43,179,225)								43,179,225

116 Nuveen Investments

Shares		Description (1)	Coupon		Value
		SHORT-TERM INVESTMENTS – 3.6%
		Money Market Funds – 3.6%
	32,859,019	First American Treasury Obligations Fund, Class Z		0.000% (7)	$	32,859,019
		Total Short-Term Investments (cost $32,859,019)				32,859,019
		Total Investments (cost $1,004,155,644) – 111.2%				1,007,950,550
		Other Assets Less Liabilities – (11.2)%				(101,199,165)
		Net Assets – 100%			$	906,751,385

Investments in Derivatives as of June 30, 2013

Credit Default Swaps outstanding:

Counterparty	Reference Entity	Buy/Sell Protection (8)		Current Credit Spread (9)		Notional Amount		Fixed Rate (Annualized)			Termination Date		Value		Unrealized Appreciation (Depreciation)
JPMorgan	Markit CDX NA HY20 Index		Sell		4.32%	$	10,000,000		5.000	%		6/20/18	$	317,973	$	155,460

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value			Unrealized Appreciation (Depreciation)
U.S. Treasury 5-Year Note		Short		(587	)		9/13	$	(71,054,517	)	$	1,052,757
U.S. Treasury 10-Year Note		Short		(361	)		9/13		(45,689,062	)		1,164,167
								$	(116,743,579	)	$	2,216,924

Nuveen Investments 117

Portfolio of Investments

Nuveen Short Term Bond Fund (continued)

June 30, 2013

	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)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $42,235,624.
(4)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(5)	Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted.
(6)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(7)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
(8)	The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.
(9)	The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.
I/O	Interest only security.
N/R	Not rated.
TBA	To be announced. Maturity date not known prior to settlement of this transaction.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
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.
MXN	Mexican Peso

See accompanying notes to financial statements.

118 Nuveen Investments

Portfolio of Investments

Nuveen Strategic Income Fund

June 30, 2013

Shares		Description (1)							Value
		COMMON STOCKS – 0.0%
		Building Products – 0.0%
	50	Dayton Superior Class A, (2), (3)							$	2,839
	55	Dayton Superior Class 1, (2), (3)								3,154
		Total Common Stocks (cost $20,079)								5,993
Shares		Description (1)	Coupon				Ratings (4)		Value
		$25 PAR (OR SIMILAR) RETAIL STRUCTURES – 3.0%
		Capital Markets – 0.2%
	44,000	Goldman Sachs Group, Inc.		5.500%				BB+	$	1,062,160
		Commercial Banks – 0.8%
	118,392	PNC Financial Services		6.125%				BBB		3,183,561
	14,000	Royal Bank of Scotland Group PLC, Series L		5.750%				BB		286,580
	75,250	Regions Financial Corporation, (5)		6.375%				BB		1,843,625
		Total Commercial Banks								5,313,766
		Consumer Finance – 0.3%
	83,000	Discover Financial Services, (5)		6.500%				BB		2,083,300
		Diversified Financial Services – 0.1%
	28,000	Citigroup Capital Trust XI		6.000%				BB		697,760
		Insurance – 1.2%
	73,140	Endurance Specialty Holdings Limited		7.500%				BBB–		1,964,540
	100,000	Hartford Financial Services Group Inc.		7.875%				BB+		2,948,000
	100,000	Reinsurance Group of America Inc.		6.200%				BBB		2,600,000
		Total Insurance								7,512,540
		Oil, Gas & Consumable Fuels – 0.2%
	52,213	Nustar Logistics Limited Partnership		7.625%				Ba2		1,367,981
		Thrifts & Mortgage Finance – 0.2%
	217,000	Federal National Mortgage Association, (5)		4.503%				Ca		987,350
		Total $25 Par (or similar) Retail Structures (cost $22,048,815)								19,024,857
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		CORPORATE BONDS – 67.5%
		Aerospace & Defense – 0.5%
$	750	Erickson Air-Crane Inc., 144A, (5)		8.250%		5/01/20		B1	$	729,375
	2,140	Exelis, Inc.		5.550%		10/01/21		BBB+		2,173,992
	2,890	Total Aerospace & Defense								2,903,367
		Airlines – 0.8%
	1,044	American West Airlines Pass Through Certificates, Series 2001-1		8.057%		1/02/22		BBB		1,159,029
	1,697	Delta Air Lines Pass Through Certificates Series 2012-1A		4.750%		5/07/20		A		1,773,526
	940	Delta Air Lines Pass Through Certificates, Series 2012-1B		6.875%		5/07/19		BB+		992,134
	969	Northwest Airlines Trust Pass Through Certificates 2007-1		7.027%		11/01/19		BBB+		1,061,359
	4,650	Total Airlines								4,986,048
		Auto Components – 0.8%
	550	Ahern Rentals Inc., 144A, (5)		9.500%		6/15/18		B		548,625
	1,025	Allison Transmission Inc., 144A		7.125%		5/15/19		B+		1,083,938

Nuveen Investments 119

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Auto Components (continued)
$	1,575	American & Axle Manufacturing Inc.		6.625%		10/15/22		B	$	1,598,625
	1,250	Gestamp Fund Lux SA, 144A		5.625%		5/31/20		BB		1,187,500
	660	Pittsburgh Glass Works LLC, 144A		8.500%		4/15/16		B+		653,400
	5,060	Total Auto Components								5,072,088
		Automobiles – 0.4%
	1,275	Chrysler GP/CG Company, (5)		8.000%		6/15/19		B1		1,391,344
	1,240	General Motors Financial Company Inc., 144A		4.250%		5/15/23		BB		1,154,750
	2,515	Total Automobiles								2,546,094
		Building Products – 0.4%
	1,490	Owens Corning Incorporated		4.200%		12/15/22		BBB–		1,443,791
	1,000	USG Corporation		9.750%		1/15/18		B–		1,135,000
	2,490	Total Building Products								2,578,791
		Capital Markets – 4.7%
	1,925	E Trade Financial Corporation		6.375%		11/15/19		B2		1,953,875
	8,030	Goldman Sachs Group, Inc.		6.000%		6/15/20		A		9,022,693
	1,890	Goldman Sachs Group, Inc.		5.250%		7/27/21		A		2,022,109
	3,000	Goldman Sachs Group, Inc., (5)		3.625%		1/22/23		A		2,870,319
	4,625	Morgan Stanley		6.625%		4/01/18		A		5,242,229
	3,000	Morgan Stanley		3.750%		2/25/23		A		2,868,849
	5,520	Morgan Stanley, (5)		4.875%		11/01/22		BBB+		5,453,214
	27,990	Total Capital Markets								29,433,288
		Chemicals – 2.7%
	1,625	Braskem Finance Limited, 144A		5.750%		4/15/21		BBB–		1,584,375
	750	Cornerstone Chemical Company, 144A		9.375%		3/15/18		B–		787,500
	1,565	Eastman Chemical Company, (5)		3.600%		8/15/22		BBB		1,508,439
	1,000	Hexion US Finance Corporation, (5)		8.875%		2/01/18		B3		1,020,000
	1,915	Incitec Pivot Finance, 144A		6.000%		12/10/19		BBB		2,098,233
	1,285	Ineos Finance PLC, 144A		7.500%		5/01/20		BB–		1,365,313
	750	Ineos Group Holdings SA, 144A, (5)		6.125%		8/15/18		B–		716,250
	1,000	Mexichem SAB de CV, 144A, (5)		4.875%		9/19/22		BBB–		1,005,000
	1,250	Momentive Performance Materials Inc., (5)		8.875%		10/15/20		B1		1,306,250
	1,000	Nufarm Australia Limited, 144A		6.375%		10/15/19		BB–		997,500
	1,175	Omonva Solutions Inc.		7.875%		11/01/18		B2		1,222,000
	1,285	Petrologisitics LP Finance, 144A		6.250%		4/01/20		B		1,259,300
	225	Rhodia SA, 144A		6.875%		9/15/20		BBB+		252,411
	750	Sinochem Overseas Capital Limited		4.500%		11/12/20		Baa1		739,430
	1,130	Tronox Finance LLC, 144A, (5)		6.375%		8/15/20		BB–		1,065,025
	16,705	Total Chemicals								16,927,026
		Commercial Banks – 2.9%
	1,330	Banco Bradesco S.A. Grand Cayman, 144A		4.125%		5/16/16		Baa1		1,369,900
	2,000	Bancolombia SA		5.950%		6/03/21		Baa2		2,125,000
	1,000	BBVA Bancomer SA Texas, 144A		4.500%		3/10/16		A2		1,037,500
	750	Gazprombank Eurobond Finance PLC		7.875%		4/29/49		N/R		750,000
	2,360	HSBC Holdings PLC		6.800%		6/01/38		A+		2,714,382
	1,230	ING Bank NV, 144A		3.750%		3/07/17		A+		1,287,367

120 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Commercial Banks (continued)
$	1,465	Rabobank Nederland		3.875%		2/08/22		Aa2	$	1,475,283
	1,630	Royal Bank of Scotland		6.125%		12/15/22		BBB–		1,551,059
	2,120	Russian Agricultural Bank, 144A		7.750%		5/29/18		Baa1		2,374,400
	1,425	Sovereign Bank		8.750%		5/30/18		Baa2		1,722,970
	500	VTB Bank Capital SA, 144A		6.000%		4/12/17		BBB+		520,000
	1,140	Wells Fargo & Company, (5)		3.450%		2/13/23		A+		1,088,740
	16,950	Total Commercial Banks								18,016,601
		Commercial Services & Supplies – 1.8%
	1,355	313 Group Incorporated, 144A, (5)		6.375%		12/01/19		B1		1,287,250
	1,785	Aramark Corporation, 144A		5.750%		3/15/20		B–		1,825,163
	1,000	Casella Waste Systems Inc.		7.750%		2/15/19		Caa1		950,000
	1,211	Ceridian Corporation, 144A		8.875%		7/15/19		B1		1,345,724
	1,450	Clean Harbors Inc., (5)		5.250%		8/01/20		BB+		1,471,750
	1,220	Covanta Energy Corporation, Synthetic Letter of Credit		6.375%		10/01/22		BB		1,232,931
	1,025	Europcar Groupe SA, 144A		11.500%		5/15/17		B–		1,480,944
	500	GDR Holding II Corporation, 144A		10.750%		6/01/19		B		535,000
	1,000	R.R. Donnelley & Sons Company		7.625%		6/15/20		BB		1,015,000
	10,546	Total Commercial Services & Supplies								11,143,762
		Communications Equipment – 0.4%
	1,150	Goodman Networks Inc., 144A, (5)		12.125%		7/01/18		B		1,219,000
	1,400	Nokia Corporation, (5)		5.375%		5/15/19		BB–		1,361,500
	2,550	Total Communications Equipment								2,580,500
		Computers & Peripherals – 0.7%
	645	Hewlett Packard Company		4.650%		12/09/21		A–		645,059
	905	Lexmark International Group Incorporated		5.125%		3/15/20		BBB–		909,846
	1,125	NCR Corporation		5.000%		7/15/22		BB		1,085,625
	1,620	Seagate HDD Cayman		7.000%		11/01/21		BBB–		1,733,400
	4,295	Total Computers & Peripherals								4,373,930
		Construction & Engineering – 0.2%
	1,100	Odebrecht Finance Limited, 144A		5.125%		6/26/22		BBB–		1,078,000
		Construction Materials – 0.1%
	450	Cemex SAB de CV, 144A		9.000%		1/11/18		B+		472,500
		Consumer Finance – 1.1%
	1,938	Capital One Bank		3.375%		2/15/23		Baa1		1,831,902
	1,715	Discover Financial Services		5.200%		4/27/22		BBB		1,770,166
	1,215	Ford Motor Credit Company		6.625%		8/15/17		Baa3		1,375,129
	1,845	Ford Motor Credit Company, (5)		4.250%		9/20/22		Baa3		1,813,388
	6,713	Total Consumer Finance								6,790,585
		Containers & Packaging – 0.8%
	1,150	Ardagh Packaging Finance / MP HD USA, 144A		4.875%		11/15/22		Ba3		1,075,250
	915	Ball Corporation		4.000%		11/15/23		BB+		846,375
	950	Reynolds Group		7.125%		4/15/19		B+		1,003,438
	2,000	Rock-Tenn Company		3.500%		3/01/20		BBB–		1,957,044
	5,015	Total Containers & Packaging								4,882,107

Nuveen Investments 121

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Diversified Consumer Services – 0.2%
$	1,000	NES Rental Holdings Inc., 144A		7.875%		5/01/18		CCC+	$	987,500
		Diversified Financial Services – 5.9%
	2,115	Bank of America Corporation		5.750%		12/01/17		A		2,350,558
	7,400	Bank of America Corporation		5.875%		1/05/21		A		8,328,596
	1,835	Citigroup Inc.		6.125%		8/25/36		BBB+		1,796,628
	300	Citigroup Inc.		6.875%		3/05/38		A		363,790
	750	CNG Holdings Inc., 144A		9.375%		5/15/20		B		720,000
	2,885	Countrywide Financial Corporation, 144A		6.250%		5/15/16		BBB+		3,146,043
	2,545	General Electric Capital Corporation		6.875%		1/10/39		AA+		3,136,461
	1,000	Jefferies Finance LLC, 144A		7.375%		4/01/20		B+		970,000
	1,000	Jefferies Loancore Finance, 144A		6.875%		6/01/20		B		970,000
	5,515	JPMorgan Chase & Company		4.500%		1/24/22		A+		5,774,878
	4,225	JPMorgan Chase & Company, (5)		3.200%		1/25/23		A+		4,010,822
	1,605	JPMorgan Chase & Company, (5)		3.375%		5/01/23		A		1,494,512
	2,280	JPMorgan Chase & Company		6.400%		5/15/38		A+		2,674,429
	1,500	Nationstar Mortgage LLC Capital Corporation		7.875%		10/01/20		B+		1,680,000
	34,955	Total Diversified Financial Services								37,416,717
		Diversified Telecommunication Services – 2.0%
	2,050	AT&T, Inc.		5.550%		8/15/41		A		2,134,470
	2,780	Brasil Telecom SA, 144A, (5)		5.750%		2/10/22		BBB		2,588,875
	1,130	CyrusOne LP Finance, 144A		6.375%		11/15/22		B+		1,158,250
	1,110	Frontier Communications Corporation, (5)		8.500%		4/15/20		BB+		1,223,775
	1,550	IntelSat Limited, 144A		6.750%		6/01/18		CCC+		1,561,625
	2,360	Qwest Corporation		6.750%		12/01/21		BBB–		2,627,220
	1,375	Windstream Corporation		6.375%		8/01/23		BB+		1,285,625
	12,355	Total Diversified Telecommunication Services								12,579,840
		Electric Utilities – 1.6%
	2,030	APT Pipelines Limited, 144A		3.875%		10/11/22		BBB		1,872,279
	1,485	Comision Federal de Electricidad of the United States of Mexcio, 144A		4.875%		5/26/21		Baa1		1,518,413
	1,150	Energy Future Intermediate Holding Company LLC		10.000%		12/01/20		B2		1,259,250
	3,145	Exelon Generation Co. LLC, (5)		4.250%		6/15/22		BBB+		3,145,349
	600	Intergen NV, 144A		7.000%		6/30/23		B+		585,000
	1,295	MidAmerican Energy Holdings Company		6.125%		4/01/36		BBB+		1,469,132
	9,705	Total Electric Utilities								9,849,423
		Energy Equipment & Services – 2.3%
	1,985	Diamond Offshore Drilling Inc.		5.700%		10/15/39		A–		2,330,382
	325	Ensco PLC		4.700%		3/15/21		BBB+		345,060
	910	Gulfmark Offshore Inc.		6.375%		3/15/22		BB–		903,175
	600	Marine Accurate Well ASA		9.500%		4/03/18		N/R		610,500
	1,890	Nabors Industries Inc.		5.000%		9/15/20		BBB		1,926,683
	1,250	Pacific Drilling SA, 144A		5.375%		6/01/20		B+		1,168,750
	1,380	Precision Drilling Corporation		6.500%		12/15/21		Ba1		1,397,250
	1,100	Seadrill Limited, 144A		5.625%		9/15/17		N/R		1,083,500
	1,000	Transocean Inc., (5)		6.375%		12/15/21		BBB–		1,123,964
	2,100	Transocean Inc., (5)		3.800%		10/15/22		BBB–		2,000,359

122 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Energy Equipment & Services (continued)
$	1,385	Weatherford International Limited		7.000%		3/15/38		Baa2	$	1,480,616
	13,925	Total Energy Equipment & Services								14,370,239
		Food & Staples Retailing – 0.2%
	1,500	Supervalu Inc., 144A, (5)		6.750%		6/01/21		B–		1,395,000
		Food Products – 1.0%
	1,105	JBS USA LLC, (5)		7.250%		6/01/21		BB		1,105,000
	750	Marfrig Holding Europe BV, 144A		9.875%		7/24/17		B		753,750
	750	Minerva Luxembourg SA, 144A		7.750%		1/31/23		BB–		746,250
	1,000	Mriya Agro Holding PLC, 144A		9.450%		4/19/18		B		890,000
	1,360	Pinnacle Foods Finance LLC, 144A		4.875%		5/01/21		B–		1,298,800
	1,790	Tyson Foods		4.500%		6/15/22		BBB		1,829,065
	6,755	Total Food Products								6,622,865
		Gas Utilities – 0.2%
	1,084	AmeriGas Finance LLC		6.750%		5/20/20		Ba2		1,121,940
	454	Suburban Propane Partners LP		7.500%		10/01/18		BB–		476,700
	1,538	Total Gas Utilities								1,598,640
		Health Care Equipment & Supplies – 0.0%
	250	Labco SAS, Reg S		8.500%		1/15/18		BB–		339,241
		Health Care Providers & Services – 0.7%
	944	HCA Holdings Inc.		7.750%		5/15/21		B–		1,019,520
	1,400	Kindred Healthcare Inc.		8.250%		6/01/19		B–		1,435,000
	885	Labco SAS, 144A		8.500%		1/15/18		BB–		1,200,912
	1,000	Tenet Healthcare Corporation, 144A		4.375%		10/01/21		BB		917,500
	4,229	Total Health Care Providers & Services								4,572,932
		Hotels, Restaurants & Leisure – 0.6%
	1,000	Graton Economic Development Authority, 144A		9.625%		9/01/19		B		1,095,000
	775	Shearer’s Foods LLC, 144A		9.000%		11/01/19		B		819,563
	750	Viking Cruises Limited, 144A		8.500%		10/15/22		B+		821,250
	1,280	Wynn Las Vegas LLC Corporation, 144A, (5)		4.250%		5/30/23		BBB–		1,184,000
	3,805	Total Hotels, Restaurants & Leisure								3,919,813
		Independent Power Producers & Energy Traders – 0.9%
	1,095	Calpine Corporation, 144A, (5)		7.500%		2/15/21		BB+		1,168,913
	2,010	Constellation Energy Group		5.150%		12/01/20		BBB+		2,204,409
	925	Dynegy Holdings, Inc.		5.875%		6/01/23		B+		841,750
	1,164	GenOn Energy		9.500%		10/15/18		B		1,292,040
	5,194	Total Independent Power Producers & Energy Traders								5,507,112
		Industrial Conglomerates – 0.1%
	1,000	OAS Financial Limited, 144A		8.875%		7/25/63		BB–		955,000
		Insurance – 2.1%
	2,475	AFLAC Insurance		6.450%		8/15/40		A–		2,906,959
	2,645	Hartford Financial Services Group Inc.		6.000%		1/15/19		BBB		2,981,701
	1,370	Liberty Mutual Group Inc., 144A		4.950%		5/01/22		Baa2		1,406,560
	1,055	Lincoln National Corporation		8.750%		7/01/19		A–		1,352,650
	1,498	Lincoln National Corporation		4.200%		3/15/22		A–		1,522,155
	840	Pacific LifeCorp.		6.000%		2/10/20		BBB+		937,728

Nuveen Investments 123

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Insurance (continued)
$	1,830	UnumProvident Corporation, (5)		5.625%		9/15/20		BBB	$	2,016,945
	11,713	Total Insurance								13,124,698
		IT Services – 0.5%
	2,395	Computer Sciences Corporation		4.450%		9/15/22		BBB		2,364,931
	900	First Data Corporation, (5)		6.750%		11/01/20		BB–		915,750
	3,295	Total IT Services								3,280,681
		Machinery – 0.5%
	1,000	Loxam SAS, 144A		7.375%		1/24/20		B		1,288,626
	1,640	Terex Corporation		6.000%		5/15/21		BB–		1,635,900
	2,640	Total Machinery								2,924,526
		Marine – 0.2%
	1,360	Navios Maritime Acquisition Corporation, (5)		8.625%		11/01/17		B		1,390,600
		Media – 4.4%
	1,175	Cequel Communication Holdings I, 144A		5.125%		12/15/21		B–		1,104,500
	740	Charter Communications, CCO Holdings LLC		5.125%		2/15/23		BB–		693,750
	1,000	Clear Channel Communications, Inc., 144A		11.250%		3/01/21		CCC+		1,042,500
	1,790	Comcast Corporation		6.400%		5/15/38		A–		2,136,501
	1,935	DIRECTV Holdings LLC		5.200%		3/15/20		BBB		2,089,264
	1,760	Dish DBS Corporation, 144A		4.250%		4/01/18		BB–		1,724,800
	1,000	McGraw-Hill Global Education Holdings, 144A		9.750%		4/01/21		BB		1,022,500
	1,250	Nara Cable Funding Limited, 144A		8.875%		12/01/18		BB–		1,300,000
	1,425	NBC Universal Media LLC		2.875%		1/15/23		A–		1,353,519
	2,750	News America Holdings Inc.		6.650%		11/15/37		BBB+		3,164,552
	1,500	SES SA, 144A		3.600%		4/04/23		BBB		1,458,270
	1,515	Time Warner Cable Inc.		5.875%		11/15/40		BBB		1,387,819
	1,500	Time Warner Inc.		4.750%		3/29/21		BBB+		1,613,621
	1,750	Time Warner Inc.		6.100%		7/15/40		BBB+		1,910,668
	500	UnityMedia Hessen GmBH, 144A		7.500%		3/15/19		Ba3		526,250
	2,306	Viacom Inc.		4.375%		3/15/43		BBB+		1,955,942
	1,000	Videotron Limited, 144A		5.625%		6/15/25		B		908,054
	2,085	Vivendi SA, 144A		4.750%		4/12/22		BBB		2,085,354
	26,981	Total Media								27,477,864
		Metals & Mining – 6.0%
	4,180	Alcoa Inc.		5.400%		4/15/21		BBB–		4,068,867
	2,690	Anglogold Holdings PLC		6.500%		4/15/40		Baa2		2,224,832
	4,305	ArcelorMittal, (5)		6.750%		2/25/22		BB+		4,412,625
	750	Bumi Investment PTE Limited, 144A, (5)		10.750%		10/06/17		B–		540,000
	950	Century Aluminum Company, 144A, (5)		7.500%		6/01/21		B		921,500
	4,380	Cliffs Natural Resources Inc., (5)		4.800%		10/01/20		BBB–		3,948,114
	1,000	Coeur D’Alene Mines Corporation, 144A		7.875%		2/01/21		BB–		985,000
	500	Commercial Metals Inc.		4.875%		5/15/23		BB+		460,000
	1,250	FMG Resources, 144A, (5)		6.000%		4/01/17		BB+		1,215,625
	1,165	Freeport McMoRan Copper & Gold, Inc., (5)		3.550%		3/01/22		BBB		1,058,236
	1,225	IAMGOLD Corporation, 144A		6.750%		10/01/20		BB–		1,035,125
	750	Inmet Mining Corporation, 144A		8.750%		6/01/20		B+		766,875

124 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Metals & Mining (continued)
$	500	Mirabela Nickel Limited, 144A		8.750%		4/15/18		B–	$	395,000
	2,610	Newmont Mining Corporation, (5)		3.500%		3/15/22		BBB+		2,233,469
	1,250	Severstal OAO via Steel Capital, 144A		4.450%		3/19/18		BB+		1,181,250
	512	Taseko Mines Limited		7.750%		4/15/19		B		505,600
	1,775	Teck Resources Limited		6.125%		10/01/35		BBB		1,761,586
	1,140	Teck Resources Limited		6.250%		7/15/41		BBB		1,079,997
	1,000	Thompson Creek Metals Company, (5)		9.750%		12/01/17		B1		1,032,500
	500	Thompson Creek Metals Company		7.375%		6/01/18		Caa2		412,500
	1,050	TMK OAO Capital SA, 144A		6.750%		4/03/20		B+		973,875
	2,410	Vale Overseas Limited		6.875%		11/10/39		A–		2,432,608
	1,000	Vedanta Resources PLC, 144A		6.000%		1/31/19		BB		950,000
	1,465	WPE International Cooperatief U.A, 144A, (5)		10.375%		9/30/20		B+		1,142,700
	1,765	Xstrata Finance Canada Limited, 144A		6.900%		11/15/37		BBB		1,767,485
	40,122	Total Metals & Mining								37,505,369
		Multiline Retail – 0.4%
	500	J.C. Penney Company Inc.		7.950%		4/01/17		B–		481,250
	1,840	Macys Retail Holdings Inc.		3.875%		1/15/22		BBB		1,844,802
	2,340	Total Multiline Retail								2,326,052
		Oil, Gas & Consumable Fuels – 9.3%
	740	Amerada Hess Corporation		7.125%		3/15/33		BBB		869,907
	2,170	Anadarko Petroleum Corporation		6.200%		3/15/40		BBB–		2,434,684
	1,570	Athabasca Oil Corporation, 144A		7.500%		11/19/17		B		1,418,180
	1,435	Atlas Pipeline LP Finance, 144A		5.875%		8/01/23		B+		1,363,250
	1,395	Bill Barrett Corporation, (5)		7.000%		10/15/22		B+		1,395,000
	1,225	Calumet Specialty Products		9.375%		5/01/19		B		1,310,750
	1,700	Canadian Oil Sands Trust		7.750%		5/15/19		BBB		2,051,766
	1,370	Concho Resources Inc., (5)		5.500%		10/01/22		BB+		1,356,300
	1,025	Continental Resources Inc.		5.000%		9/15/22		BB+		1,042,938
	500	Deep Drilling 7 & 8 PT		14.250%		3/05/15		N/R		537,500
	1,140	Drill Rigs Holdings Inc., 144A		6.500%		10/01/17		B		1,137,150
	195	Enbridge Energy Partners LP		5.200%		3/15/20		BBB		212,469
	1,400	Everest Acquisition LLC Finance, 144A, (5)		7.750%		9/01/22		B		1,498,000
	1,475	Forest Oil Corporation		7.250%		6/15/19		B–		1,386,500
	2,600	Gazprom OAO Via Gaz Capital SA, 144A		3.850%		2/06/20		Baa1		2,418,000
	1,100	Halcon Resources Corporation.		9.750%		7/15/20		CCC+		1,097,250
	1,345	Key Energy Services Inc.		6.750%		3/01/21		BB–		1,291,200
	600	Kinder Morgan Energy Partners LP		6.950%		1/15/38		BBB		709,381
	500	Kodiak Oil and Gas Corporation		8.125%		12/01/19		B–		542,500
	1,380	Linn Energy LLC Finance Corporation, 144A		6.250%		11/01/19		B		1,314,450
	2,625	Lukoil International Finance, 144A		6.125%		11/09/20		BBB		2,762,813
	1,290	Martin Mid-Stream Partners LP Finance, 144A		7.250%		2/15/21		B–		1,296,450
	1,325	MEG Energy Corporation, 144A		6.375%		1/30/23		BB		1,285,250
	750	Newfield Exploration Company		5.625%		7/01/24		BBB–		727,500
	1,325	Niska Gas Storage US LLC		8.875%		3/15/18		B+		1,374,688
	1,120	Noble Energy Inc.		4.150%		12/15/21		BBB		1,156,415

Nuveen Investments 125

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Oil, Gas & Consumable Fuels (continued)
$	1,225	Northern Tier Energy LLC, 144A		7.125%		11/15/20		BB–	$	1,237,250
	1,000	Ocean Rig UDW Inc.		9.500%		4/27/16		CCC+		1,037,500
	1,195	Offshore Group Investment Limited		7.500%		11/01/19		B–		1,245,788
	1,130	Paramount Resources Limited, 144A		7.625%		12/04/19		B		1,074,451
	1,325	PBF Holding Company LLC		8.250%		2/15/20		BB+		1,387,938
	750	Penn Virginia Corporation, 144A		8.500%		5/01/20		B–		727,500
	1,000	PetroBakken Energy Limited, 144A		8.625%		2/01/20		CCC+		950,000
	1,770	Petrobras International Finance Company		6.875%		1/20/40		A3		1,786,774
	1,275	Petro-Canada		6.800%		5/15/38		BBB+		1,477,575
	500	Rosneft International Finance, 144A		4.199%		3/06/22		Baa1		463,250
	2,500	Sabine Pass LNG LP, 144A		6.500%		11/01/20		BB+		2,525,000
	1,125	Sandridge Energy Inc., (5)		8.125%		10/15/22		B2		1,113,750
	6,000	Ship Finance International Limited		6.810%		10/19/17		N/R		972,944
	1,845	Sinopec Group Overseas Development 2012, 144A		3.900%		5/17/22		Aa3		1,791,202
	1,025	SM Energy Company		6.625%		2/15/19		BB–		1,073,688
	1,445	Southwestern Energy Company		4.100%		3/15/22		BBB–		1,438,837
	1,395	Targa Resources Inc., 144A, (5)		4.250%		11/15/23		BB		1,245,039
	1,900	Thai Oil PCL, 144A		3.625%		1/23/23		Baa1		1,733,433
	1,000	Western Refining Inc., 144A		6.250%		4/01/21		BB–		977,500
	62,705	Total Oil, Gas & Consumable Fuels								58,249,710
		Paper & Forest Products – 1.2%
	2,615	Domtar Corporation		4.400%		4/01/22		BBB–		2,535,716
	1,860	International Paper Company		8.700%		6/15/38		BBB		2,524,420
	1,000	Resolute Forest Products, 144A		5.875%		5/15/23		BB–		892,500
	750	Sappi Papier Holding GMBH, 144A		8.375%		6/15/19		BB		791,250
	950	Tembec Industries, Inc.		11.250%		12/15/18		B3		1,026,000
	7,175	Total Paper & Forest Products								7,769,886
		Personal Products – 0.2%
	1,250	Albea Beauty Holdings SA, 144A		8.375%		11/01/19		B+		1,225,000
		Pharmaceuticals – 0.7%
	1,150	AbbVie Inc., 144A		2.900%		11/06/22		A+		1,075,412
	1,000	Endo Pharmaceutical Holdings Inc.		7.000%		12/15/20		BB–		1,003,750
	1,400	Sky Growth Holdings Corporation, dba Par Pharmaceuticals, 144A		7.375%		10/15/20		B–		1,435,000
	1,080	Valeant Pharmaceuticals International, 144A		6.375%		10/15/20		B1		1,067,850
	4,630	Total Pharmaceuticals								4,582,012
		Real Estate Investment Trust – 1.0%
	1,820	HCP Inc.		3.750%		2/01/19		BBB+		1,867,562
	750	KWG Property Holdings Limited		13.250%		3/22/17		B+		814,774
	1,420	Plum Creek Timberlands LP		4.700%		3/15/21		BBB		1,469,219
	2,125	Prologis Inc.		6.875%		3/15/20		BBB		2,465,716
	6,115	Total Real Estate Investment Trust								6,617,271
		Real Estate Management & Development – 1.0%
	1,000	Agile Property Holdings Limited, (5)		8.875%		4/28/17		BB		1,020,000
	1,100	Country Garden Holding Company, 144A, (5)		11.125%		2/23/18		BB–		1,193,500
	500	Crescent Resources LLC, 144A		10.250%		8/15/17		B–		515,000

126 Nuveen Investments

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		Real Estate Management & Development (continued)
$	1,100	Kaisa Group Holdings Limited, 144A, (5)		8.875%		3/19/18		B+	$	1,050,500
	875	Mattamy Group Corporation, 144A		6.500%		11/15/20		BB		857,500
	800	Gemdale International Investment Limited		7.125%		11/16/17		BB–		782,284
	750	Shimao Property Holdings Limited		11.000%		3/08/18		BB		800,571
	6,125	Total Real Estate Management & Development								6,219,355
		Road & Rail – 0.3%
	1,000	Hertz Corporation		7.375%		1/15/21		B		1,082,500
	700	Hertz Corporation		6.250%		10/15/22		B		730,625
	1,700	Total Road & Rail								1,813,125
		Semiconductors & Equipment – 0.5%
	1,180	Freescale Semiconductor Inc., 144A		5.000%		5/15/21		B1		1,121,000
	840	Intel Corporation		4.800%		10/01/41		A+		835,177
	1,000	NXP BV, 144A		5.750%		3/15/23		B		1,007,500
	3,020	Total Semiconductors & Equipment								2,963,677
		Specialty Retail – 0.5%
	2,220	O’Reilly Automotive Inc.		4.875%		1/14/21		BBB		2,363,610
	750	Rite Aid Corporation, 144A, (WI/DD)		6.750%		6/15/21		CCC+		736,875
	2,970	Total Specialty Retail								3,100,485
		Textiles, Apparel & Luxury Goods – 0.2%
	1,220	Jones Group		6.875%		3/15/19		B+		1,226,100
		Thrifts & Mortgage Finance – 0.3%
	1,855	WEA Finance LLC, 144A		4.625%		5/10/21		A2		1,956,921
		Tobacco – 1.5%
	3,125	Altria Group Inc.		9.950%		11/10/38		Baa1		4,625,035
	2,800	Imperial Tobacco Finance, 144A		3.500%		2/11/23		BBB		2,632,446
	1,670	Lorillard Tobacco, (5)		6.875%		5/01/20		Baa2		1,918,969
	1,265	Reynolds American Inc.		3.250%		11/01/22		Baa2		1,175,940
	8,860	Total Tobacco								10,352,390
		Trading Companies & Distributors – 0.4%
	1,720	International Lease Finance Corporation		4.625%		4/15/21		BBB–		1,582,400
	1,000	Russel Metals Inc., 144A		6.000%		4/19/22		Ba1		950,841
	2,720	Total Trading Companies & Distributors								2,533,241
		Transportation Infrastructure – 0.7%
	4,025	Asciano Finance Limited, 144A		5.000%		4/07/18		Baa2		4,276,084
		Wireless Telecommunication Services – 1.6%
	2,070	American Tower Company		5.050%		9/01/20		BBB		2,175,346
	500	Clearwire Corporation, 144A		14.750%		12/01/16		B3		682,500
	1,450	Digicel Limited, 144A		7.000%		2/15/20		B1		1,464,500
	1,500	Eileme AB, 144A		11.625%		1/31/20		B–		1,695,000
	750	FairPoint Communications Inc., 144A		8.750%		8/15/19		B		742,500
	1,325	Frontier Communications Corporation		7.625%		4/15/24		BB+		1,328,311
	966	Sprint Nextel Corporation		7.000%		3/01/20		BB		1,042,200
	1,000	Wind Acquisition Finance SA, 144A		7.250%		2/15/18		BB		997,500
	9,561	Total Wireless Telecommunication Services								10,127,857
$	418,512	Total Corporate Bonds (cost $418,872,899)								424,941,913

Nuveen Investments 127

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		CONVERTIBLE BONDS – 0.1%
		Commercial Banks – 0.1%
$	650	Lloyds Banking Group LBG Capital 1, 144A		8.000%		6/15/20		BB	$	659,702
$	650	Total Convertible Bonds (cost $672,747)								659,702
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL STRUCTURES – 6.2%
		Capital Markets – 0.4%
$	1,500	Dresdner Funding Trust, 144A, (5)		8.151%		6/30/31		BB	$	1,505,625
	1,495	Goldman Sachs Capital II		4.000%		N/A (6)		BB+		1,188,525
	2,995	Total Capital Markets								2,694,150
		Commercial Banks – 2.5%
	2,830	Barclays Bank PLC		4.750%		N/A (6)		BBB–		2,646,555
	650	Barclays Bank PLC		6.000%		N/A (6)		BBB–		855,456
	1,000	Credit Agricole, S.A, 144A, (5)		6.637%		N/A (6)		BBB–		922,500
	1,525	Fifth Third Bancorp., (5)		5.100%		N/A (6)		BB+		1,441,125
	1,000	HBOS Capital Funding LP, 144A		6.071%		N/A (6)		BB		870,000
	1,170	Rabobank Nederland, 144A		11.000%		N/A (6)		A–		1,500,525
	1,500	RBS Capital Trust, (5)		5.512%		N/A (6)		BB		1,095,000
	500	RBS Capital Trust, (5)		1.076%		N/A (6)		BB		360,000
	500	Societe Generale, 144A		1.055%		N/A (6)		BBB–		390,000
	5,585	Wachovia Capital Trust III		5.570%		N/A (6)		BBB+		5,480,281
	16,260	Total Commercial Banks								15,561,442
		Diversified Financial Services – 1.3%
	1,500	Citigroup Inc.		5.950%		N/A (6)		BB		1,492,650
	5,000	General Electric Capital Corporation		7.125%		N/A (6)		AA–		5,650,000
	1,130	JPMorgan Chase & Company		5.150%		N/A (6)		BBB		1,076,325
	7,630	Total Diversified Financial Services								8,218,975
		Electric Utilities – 0.2%
	1,570	Electricite de France, 144A		5.250%		N/A (6)		A3		1,500,920
		Insurance – 1.7%
	2,050	Catlin Insurance Company Limited		7.249%		N/A (6)		BBB+		2,096,125
	1,250	Genworth Financial Inc.		6.150%		11/15/66		Ba1		1,084,375
	1,705	Liberty Mutual Group, 144A		7.000%		3/15/37		Baa3		1,722,050
	1,620	Lincoln National Corporation		6.050%		4/20/67		BBB		1,587,082
	1,035	Prudential Financial Inc.		5.200%		3/15/44		BBB+		978,075
	1,000	XL Capital Ltd, (5)		6.500%		N/A (6)		BBB-		975,000
	1,860	ZFS Finance USA Trust V		6.500%		5/09/37		A		1,980,900
	10,520	Total Insurance								10,423,607
		IT Services – 0.1%
	575	Zayo Escrow Corporation		8.125%		1/01/20		B1		623,875
$	39,550	Total $1,000 Par (or similar) Institutional Structures (cost $37,814,380)								39,022,969

128 Nuveen Investments

Principal Amount (000)		Description (1)			Optional Call Provisions (7)		Ratings (4)		Value
		MUNICIPAL BONDS – 0.7%
		Illinois – 0.7%
$	3,840	Illinois State, General Obligation Bonds, Taxable Series 2011, 5.877%, 3/01/19				No Opt. Call		A–	$	4,237,632
$	3,840	Total Municipal Bonds (cost $3,840,000)								4,237,632
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 10.8%
$	1,579	321 Henderson Receivables LLC, Series 2010-3A		3.820%		12/15/48		Aaa	$	1,651,811
	2,270	AmeriCold LLC Trust, Series 2010		6.811%		1/14/29		A+		2,617,396
	3,361	Banc of America Alternative Loan Trust, Pass Through Certificates, Series 2006-6		6.000%		7/25/46		Caa3		2,727,806
	56	Bank of America Alternative Loan Trust, Series 2005-5 2 CB1		6.000%		6/25/35		Caa1		47,985
	350	Bank of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series 2005-4		4.933%		7/10/45		AAA		373,049
	2,458	Bayview Opportunity Master Fund Trust, 2013-8NPL		3.228%		3/28/33		N/R		2,451,296
	284	Citigroup Commercial Mortgage Securities Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-CD4, (5)		5.205%		12/11/49		AAA		286,094
	1,360	Countrywide ABS Asset-Backed Certificate Trust 2007-9		0.323%		6/25/47		B–		1,339,706
	491	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-24CB		5.000%		11/25/19		B3		494,089
	825	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-19CB		6.000%		8/25/36		Caa3		702,060
	3,200	Countrywide Asset Backed Certificates, Series 2007-4 A2		5.530%		3/25/29		Caa1		2,981,549
	383	Countrywide Asset-Backed Certificates Trust, Series 2006-25		0.313%		6/25/47		AAA		380,369
	1,592	Countrywide Home Loans, Asset Backed Certificates Series 2007-7		0.353%		10/25/47		AAA		1,551,145
	640	Countrywide Home Loan Mortgage Pass Through Trust, Series 2004-2		2.762%		2/25/34		A		593,590
	2,104	Countrywide Home Loans Mortgage, Series 2005-27		5.500%		1/25/23		Caa1		1,944,804
	261	Credit Suisse First Boston Mortgage Securities Corporation, Mortgage-Backed Pass-Through Certificates, Series 2003-23		5.750%		9/25/33		AA+		275,336
	424	CS First Boston Mortgage Securities Corporation, Commercial Mortgage Pass- Through Certificates, Series 2004-C1		4.750%		1/15/37		AAA		427,268
	1,036	Fannie Mae Mortgage Interest STRIPS 366 25 (I/O)		5.000%		9/01/24		Aaa		90,642
	604	Fannie Mae Mortgage Pool AA0005		5.500%		11/01/38		Aaa		654,582
	854	Fannie Mae Mortgage Pool AA0889		5.500%		12/01/38		Aaa		926,588
	4,016	Fannie Mae Mortgage Pool AB1959, (8)		4.000%		12/01/40		Aaa		4,195,052
	3,598	Fannie Mae Mortgage Pool AC1877		4.500%		9/01/39		Aaa		3,805,763
	807	Fannie Mae Mortgage Pool AL1187		5.500%		7/01/24		Aaa		852,168
	591	Fannie Mae Mortgage Pool 255628		5.500%		2/01/25		Aaa		646,988
	2,243	Fannie Mae Mortgage Pool 255956		5.500%		10/01/25		Aaa		2,451,647
	376	Fannie Mae Mortgage Pool 256890		6.000%		9/01/37		Aaa		403,897
	271	Fannie Mae Mortgage Pool 725205		5.000%		3/01/34		Aaa		292,831
	119	Fannie Mae Mortgage Pool 725553		2.175%		9/01/33		Aaa		126,131
	402	Fannie Mae Mortgage Pool 725773		5.500%		9/01/34		Aaa		441,103
	156	Fannie Mae Mortgage Pool 735060		6.000%		11/01/34		Aaa		174,330
	93	Fannie Mae Mortgage Pool 735606		1.927%		5/01/35		Aaa		97,051

Nuveen Investments 129

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (4)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	160		Fannie Mae Mortgage Pool 745101		6.000%		4/01/32		Aaa	$	172,914
	403		Fannie Mae Mortgage Pool 745324		6.000%		3/01/34		Aaa		437,451
	457		Fannie Mae Mortgage Pool 745548		2.320%		1/01/35		Aaa		486,208
	125		Fannie Mae Mortgage Pool 824163		5.500%		4/01/35		Aaa		136,378
	320		Fannie Mae Mortgage Pool 831377		6.500%		4/01/36		Aaa		357,051
	104		Fannie Mae Mortgage Pool 838948		1.939%		8/01/35		Aaa		109,365
	340		Fannie Mae Mortgage Pool 843435		5.500%		6/01/33		Aaa		372,431
	138		Fannie Mae Mortgage Pool 852909		6.500%		4/01/36		Aaa		154,822
	—	(9)	Fannie Mae Mortgage Pool 889618		5.500%		5/01/38		Aaa		503
	406		Fannie Mae Mortgage Pool 893318		6.500%		8/01/36		Aaa		455,689
	46		Fannie Mae Mortgage Pool 905597		5.961%		12/01/36		Aaa		49,408
	894		Fannie Mae Mortgage Pool 932323		4.500%		12/01/39		Aaa		945,849
	290		Fannie Mae Mortgage Pool 944340		6.000%		6/01/37		Aaa		315,436
	136		Fannie Mae Mortgage Pool 946228		5.997%		9/01/37		Aaa		147,163
	—	(9)	Fannie Mae Mortgage Pool 985344		5.500%		7/01/38		Aaa		284
	1,618		FDIC Structures Sale Guaranteed Notes, Series 2010-S1		0.744%		2/25/48		Aaa		1,615,093
	20		Federal Home Loan Mortgage Corporation, Mortgage Pool 1B3220		2.718%		1/01/37		Aaa		21,542
	30		Federal Home Loan Mortgage Corporation, Series 2376		5.500%		11/15/16		Aaa		32,190
	985		Freddie Mac Gold Pool 1K1238		2.375%		7/01/36		Aaa		1,037,957
	521		Freddie Mac Gold Pool 1L0117		2.683%		10/01/29		Aaa		536,810
	384		Freddie Mac Gold Pool 847240		2.288%		7/01/30		Aaa		406,640
	242		Freddie Mac Gold Pool 847411		2.183%		5/01/33		Aaa		253,957
	2,113		Freddie Mac Gold Pool 848289		2.372%		5/01/38		Aaa		2,245,010
	566		Freddie Mac Mortgage Pool, Various A17212		6.500%		7/01/31		Aaa		650,472
	165		Freddie Mac Mortgage Pool, Various H09059		7.000%		8/01/37		Aaa		184,205
	36		Freddie Mac Non Gold Participation Certificates 847681		6.157%		12/01/36		Aaa		38,473
	937		Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2006-GG6		5.506%		4/10/38		AAA		956,002
	1,983		Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2003-1		6.699%		3/25/43		Ba3		1,273,031
	1,862		Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-AR1		3.185%		1/25/35		CC		424,960
	259		Government National Mortgage Association, Guaranteed REMIC Pass Through Securities and MX Securities Trust		4.500%		5/16/38		Aaa		270,523
	6		Green Tree Financial Corporation, Manufactured Housing Contract Pass Through Certificates Series 1996-8		8.050%		11/15/26		AAA		6,487
	66		GRMT Mortgage Loan Trust 2001-1A		8.272%		7/20/31		A3		63,278
	1,864		Impac Secured Assets Corporation, Mortgage Pass-Through Certificates, Series 2000-3		8.000%		10/25/30		CCC		1,740,046
	377		IndyMac INDX Mortgage Loan Trust, Pass Through Certificates, Series 2005-AR1		2.630%		3/25/35		BBB+		368,617
	1,364		JPMorgan Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2007-S1		0.473%		6/25/37		CCC		1,129,192
	60		LB-UBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2005-C7		5.103%		11/18/30		AAA		60,645
	1,156		Lehman Mortgage Trust, Mortgage Pass Through Certificates, Series 2008-6		5.522%		4/25/38		BB+		1,173,403
	3,500		Master RePerforming Loan Trust 2005-1		7.500%		8/25/34		Ba3		3,634,565
	230		Merrill Lynch Mortgage Investors Inc, Commercial Mortgage Pass-Through Certificates, Series 2006		5.204%		12/12/49		A1		247,494

130 Nuveen Investments

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (4)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	508		National Credit Union Administration Guaranteed Structured Collateral Notes		2.900%		10/29/20		Aaa	$	530,227
	2,880		OBP Depositor LLC Trust, Commercial Mortgage Pass Through Certificates, Series 2010-OBP		4.646%		7/17/45		AAA		3,122,963
	992		RBSSP Resecuritization Trust, Series 2012-8 1A1		0.319%		10/28/36		N/R		935,735
	187		Residential Accredit Loans Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2005-QS12		5.500%		8/25/35		Caa2		160,702
	584		Sequoia Mortgage Trust, Mortgage Pass Through Certificates, Series 2011-1		4.125%		2/25/41		AAA		584,180
	2,811		Stanwich Mortgage Loan Trust, Series 2012-NPL5		2.981%		10/16/42		N/R		2,815,834
	637		Wachovia Mortgage Loan Trust LLC, Mortgage Pass-Through Certificates, Series 2005-B		2.963%		10/20/35		CCC		507,862
	506		Washington Mutual Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2004-RA3		6.510%		8/25/38		AA		544,082
	33		Wells Fargo Mortgage Backed Securities, 2005-AR16 Class 3A2		2.682%		10/25/35		BBB–		33,106
$	70,105		Total Asset-Backed and Mortgage-Backed Securities (cost $68,100,917)								67,750,361
Shares			Description (1), (17)							Value
			INVESTMENT COMPANIES – 0.2%
	36,000		Blackrock Credit Allocation Income Trust IV							$	467,280
	40,000		CBRE Clarion Global Real Estate Income Fund								360,800
	23,000		NexPoint Credit Strategies Fund								181,010
	16,000		Pioneer Diversified High Income Trust								325,440
			Total Investment Companies (cost $1,173,107)								1,334,530
Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (4)		Value
			SOVEREIGN DEBT – 8.4%
			Argentina – 0.3%
$	1,200		Province of Buenos Aires, 144A		10.875%		1/26/21		B–	$	786,000
	1,300		Provincia de Cordoba, (5)		12.375%		8/17/17		B–		955,500
	1,400		Republic of Argentina		8.750%		6/02/17		B		1,060,500
	3,900		Total Argentina								2,802,000
			Bermuda – 0.5%
	2,840		Bermuda Government, 144A		5.603%		7/20/20		AA–		3,081,400
			Indonesia – 0.3%
	1,830		Republic of Indonesia, 144A		5.875%		3/13/20		Baa3		1,980,975
			Ireland – 0.9%
	2,375	EUR	Irish Republic Treasury Bond		5.900%		10/18/19		BBB+		3,480,497
	1,500	EUR	Irish Republic Treasury Bond		5.500%		10/18/17		BBB+		2,158,449
	3,875	EUR	Total Ireland								5,638,946
			Mexico – 3.5%
	1,330	MXN	Mexico Bonos de DeSarrollo		8.500%		12/13/18		A–		11,748,952
	503	MXN	Mexico Bonos de DeSarrollo		8.000%		12/07/23		A–		4,505,636
	698	MXN	Mexico Bonos de DeSarrollo		7.750%		11/13/42		A–		5,801,694
	2,531	MXN	Total Mexico								22,056,282

Nuveen Investments 131

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Principal Amount (000) (10)			Description (1)	Coupon		Maturity		Ratings (4)		Value
			Portugal – 0.6%
	3,000	EUR	Portugal Obrigacoes do Tesouro		5.650%		2/15/24		Ba3	$	3,631,974
			South Africa – 0.4%
	18,500	ZAR	Republic of South Africa		10.500%		12/21/26		A–		2,268,611
			Turkey – 1.7%
	5,400		Republic of Turkey, (5)		3.250%		3/23/23		Baa3		4,711,500
	550		Republic of Turkey		4.875%		4/16/43		BBB–		473,000
	11,100	TRY	Turkey Government Bond		7.100%		3/08/23		BBB		5,294,758
			Total Turkey								10,479,258
			Ukraine – 0.2%
	1,250		Republic of Ukraine, 144A, (5)		7.750%		9/23/20		B		1,140,625
			Total Sovereign Debt (cost $59,604,162)								53,080,071
Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (4)		Value
			STRUCTURED NOTES – 0.1%
$	650		FDIC Structured Sales Guaranteed Notes, Series 2010-L1A		0.000%		10/25/13		Aaa	$	649,584
$	650		Total Structured Notes (cost $645,551)								649,584
Shares			Description (1)							Value
			INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 10.8%
			Money Market Funds – 10.8%
	67,716,896		Mount Vernon Securities Lending Trust Prime Portfolio, 0.195% (11), (12)							$	67,716,896
			Total Investments Purchased with Collateral from Securities Lending (cost $67,716,896)								67,716,896
Shares			Description (1)	Coupon						Value
			SHORT-TERM INVESTMENTS – 0.1%
			Money Market Funds – 0.1%
	681,517		First American Treasury Obligations Fund, Class Z		0.000% (11)					$	681,517
			Total Short-Term Investments (cost $681,517)								681,517
			Total Investments (cost $681,191,070) – 107.9%								679,106,025
			Other Assets Less Liabilities – (7.9)% (13)								(49,913,413)
			Net Assets – 100%							$	629,192,612

Investments in Derivatives as of June 30, 2013
Forward Foreign Currency Exchange Contracts outstanding:
Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation (U.S. Dollars) (13)
Bank of America	Brazilian Real		12,000,000		U.S. Dollar		5,419,809		7/02/13	$	47,128
Bank of America	U.S. Dollar		5,416,140		Brazilian Real		12,000,000		7/02/13		(33,690	)
Bank of America	U.S. Dollar		5,387,689		Brazilian Real		12,000,000		8/02/13		(52,261	)
Citigroup	Australian Dollar		14,300,000		U.S. Dollar		13,660,790		7/15/13		599,552
Citigroup	Brazilian Real		12,000,000		U.S. Dollar		5,416,140		7/02/13		33,690
Citigroup	British Pound Sterling		630,000		U.S. Dollar		952,762		8/05/13		(5,186	)
Citigroup	British Pound Sterling		8,300,000		U.S. Dollar		12,979,125		8/19/13		359,754
Citigroup	Canadian Dollar		4,300,000		U.S. Dollar		4,079,155		8/30/13		(3,071	)
Citigroup	Euro		1,100,000		U.S. Dollar		1,438,865		7/31/13		6,859

132 Nuveen Investments

Investments in Derivatives as of June 30, 2013 (continued)
Forward Foreign Currency Exchange Contracts outstanding (continued):
Counterparty	Currency Contracts to Deliver	Amount (Local Currency)		In Exchange For Currency		Amount (Local Currency)		Settlement Date		Unrealized Appreciation Depreciation (U.S. Dollars) (13)
Citigroup	Euro		4,900,000		U.S. Dollar		6,490,124		7/31/13	$	111,186
Citigroup	Euro		10,341,423		U.S. Dollar		13,381,181		7/31/13		(81,532	)
Citigroup	Norwegian Krone		40,000,000		U.S. Dollar		6,906,077		8/14/13		332,218
Citigroup	U.S. Dollar		5,826,657		Brazilian Real		12,000,000		7/02/13		(453,975	)
Citigroup	U.S. Dollar		14,350,164		Australian Dollar		14,300,000		7/15/13		(1,288,926	)
Citigroup	U.S. Dollar		3,203,170		Euro		2,400,000		7/31/13		(78,792	)
Citigroup	U.S. Dollar		1,439,049		Euro		1,100,000		7/31/13		(7,042	)
Citigroup	U.S. Dollar		109,640		British Pound Sterling		72,000		8/05/13		(160	)
Citigroup	U.S. Dollar		6,918,261		Norwegian Krone		40,000,000		8/14/13		(344,402	)
Citigroup	U.S. Dollar		6,175,760		British Pound Sterling		4,000,000		8/19/13		(94,135	)
Citigroup	U.S. Dollar		6,547,356		British Pound Sterling		4,300,000		8/19/13		(9,610	)
Credit Suisse	Norwegian Krone		73,500,000		U.S. Dollar		12,695,397		8/05/13		611,787
Credit Suisse	U.S. Dollar		12,490,441		Norwegian Krone		73,500,000		8/05/13		(406,832	)
JPMorgan	Euro		9,850,000		U.S. Dollar		12,963,349		7/25/13		140,746
JPMorgan	Indian Rupee		500,000,000		U.S. Dollar		8,298,755		7/10/13		(96,508	)
JPMorgan	Mexican Peso		66,200,000		U.S. Dollar		5,442,065		7/08/13		337,664
JPMorgan	Mexican Peso		66,200,000		U.S. Dollar		5,059,601		9/09/13		(15,390	)
JPMorgan	New Zealand Dollar		7,500,000		U.S. Dollar		6,269,730		7/15/13		464,927
JPMorgan	Polish Zloty		18,500,000		U.S. Dollar		5,607,760		7/12/13		45,037
JPMorgan	South African Rand		55,000,000		U.S. Dollar		5,514,742		7/10/13		(39,373	)
JPMorgan	U.S. Dollar		5,087,963		Mexican Peso		66,200,000		7/08/13		16,438
JPMorgan	U.S. Dollar		8,785,030		Indian Rupee		500,000,000		7/10/13		(389,767	)
JPMorgan	U.S. Dollar		5,551,462		South African Rand		55,000,000		7/10/13		2,653
JPMorgan	U.S. Dollar		5,866,870		Polish Zloty		18,500,000		7/12/13		(304,147	)
JPMorgan	U.S. Dollar		13,761,275		New Zealand Dollar		16,300,000		7/15/13		(1,145,503	)
JPMorgan	U.S. Dollar		8,241,305		Indian Rupee		500,000,000		8/14/13		100,683
JPMorgan	U.S. Dollar		5,466,876		South African Rand		55,000,000		9/10/13		36,343
Nomura Securities	Japanese Yen		1,250,000,000		U.S. Dollar		13,127,384		7/17/13		523,177
Nomura Securities	U.S. Dollar		6,577,920		Japanese Yen		640,000,000		7/17/13		(124,566	)
										$	(1,205,026	)

Credit Default Swaps outstanding:

Counterparty	Reference Entity	Buy/Sell Protection (14)		Current Credit Spread (15)		Notional Amount		Fixed Rate (Annualized)			Termination Date		Value		Unrealized Appreciation (Depreciation)
JPMorgan	Markit CDX NA HY20 Index		Sell		4.32%	$	19,600,000		5.000	%		6/20/18	$	623,226	$	(43,964	)

Interest Rate Swaps outstanding:

Counterparty	Notional Amount		Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Termination Date		Unrealized Appreciation (Depreciation) (13)
Deutsche Bank AG	$	33,000,000		Receive		3-Month USD-LIBOR-BBA		1.741	%		Semi-Annually		11/08/22	$	2,344,520
JPMorgan		21,000,000		Receive		3-Month USD-LIBOR-BBA		2.113			Semi-Annually		2/21/22		392,316
JPMorgan		10,800,000		Receive		3-Month USD-LIBOR-BBA		2.078			Semi-Annually		2/19/23		454,252
	$	64,800,000												$	3,191,088

Futures Contracts outstanding:

Type	Contract Position		Number of Contracts			Contract Expiration		Notional Amount at Value			Unrealized Appreciation (Depreciation)
U.S. Treasury 2-Year Note		Short		(32	)		9/13	$	(7,040,000	)	$	5,927
U.S. Treasury 10-Year Note		Short		(304	)		9/13		(38,474,944	)		685,429
U.S. Treasury Long Bond		Short		(30	)		9/13		(4,075,312	)		156,024
U.S. Treasury Ultra Bond		Short		(37	)		9/13		(5,450,563	)		200,128
								$	(55,040,819	)	$	1,047,508

Nuveen Investments 133

Portfolio of Investments

Nuveen Strategic Income Fund (continued)

June 30, 2013

Investments in Derivatives as of June 30, 2013 (continued)

Call Options Purchased outstanding:

Counterparty	Put Notional Amount		Call Notional Amount (16)		Expiration Date		Strike Price		Value (13)
Credit Suisse	$	19,000,000 USD		19,475,000,000 KRW		7/11/13		1,025 KRW	$	—
Total Call Options Purchased (premiums paid $81,130)									$	—

	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 valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors/Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Investment Valuation for more information.
(4)	Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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.
(5)	Investment, or a portion of investment, is out on loan for securities lending. The total value of securities out on loan as of the end of the reporting period was $66,024,903.
(6)	Perpetual security. Maturity date is not applicable.
(7)	Optional Call Provisions (not covered by the report of independent registered public accounting firm): 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.
(8)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.
(9)	Principal Amount (000) rounds to less than $1,000.
(10)	Principal Amount (000) denominated in U.S. Dollars, unless otherwise noted.
(11)	The rate shown is the annualized seven-day effective yield as of the end of the reporting period.
(12)	The Fund may loan securities representing up to one third of the fair value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks and other institutions. The Fund maintains collateral equal to at least 100% of the fair value of the securities loaned. The cash collateral received by the Fund is invested in this money market fund. See Notes to Financial Statements, Footnote 1 – General Information and Significant Accounting Policies, Securities Lending for more information.
(13)	Other Assets Less Liabilities includes the Value and Unrealized Appreciation (Depreciation) of certain derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.
(14)	The Fund entered into the credit default swaps to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning the referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.
(15)	The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher likelihood of performance by the seller of protection.
(16)	For disclosure purposes, Call Notional Amount is calculated by multiplying the Put Notional Amount by the Strike Price.
(17)	A copy of the most recent financial statements for the investment companies in which the Fund invests can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.
I/O	Interest only.
N/A	Not applicable.
N/R	Not rated.
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.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
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
KRW	South Korean Won
MXN	Mexican Peso
TRY	Turkish Lira
USD	United States Dollar
ZAR	South African Rand
USD-LIBOR-BBA	United States Dollar–London Inter-Bank Offered Rate British Bankers’ Association.

See accompanying notes to financial statements.

134 Nuveen Investments

Statement of Assets & Liabilities

June 30, 2013

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Assets
Long-term investments, at value (cost $488,394,581, $657,426,801, $17,353,420 and $700,073,184, respectively)	$	489,127,800	$	673,867,312	$	16,928,919	$	690,871,744
Investments purchased with collateral from securities lending, at value (cost approximates value)		57,635,312		74,451,214		—		124,410,338
Short-term investments, at value (cost approximates value)		28,052,047		12,514,364		2,660,291		13,241,965
Cash denominated in foreign currencies (cost $—, $—, $46,727 and $1,948, respectively)		—		—		46,376		1,840
Cash		79,095		—		—		17,536
Restricted cash(1)		—		—		—		—
Credit default swaps premiums paid		—		134,455		21,175		—
Unrealized appreciation on:
Forward foreign currency exchange contracts		—		20,894		375,049		18,312
Interest rate swaps		—		2,138,784		51,543		—
Call options purchased, at value (premiums paid $—, $—, $4,270 and $—, respectively)		—		—		—		—
Receivables:
Credit default swaps premiums		—		—		—		—
Deposits with brokers for open futures contracts		744,000		974,000		87,091		310,000
Deposits with brokers for exchange traded swaps		—		142,518		13,093		—
Dividends		—		59,063		3,227		494,651
Due from broker		10,690		189,868		—		58,609
Interest		3,344,298		6,116,306		204,302		12,223,046
Investments sold		3,321,118		407,998		157,644		5,212,807
Reclaims		—		—		—		485
Shares sold		1,683,969		72,389		20,291		1,014,666
Variation margin on futures contracts		18,406		41,969		586		12,422
Variation margin on swap contracts		—		—		5,420		—
Other assets		11,128		15,124		8		11,245
Total assets		584,027,863		771,146,258		20,575,015		847,899,666
Liabilities
Cash overdraft		—		—		139,697		—
Cash overdraft denominated in foreign currencies (cost $—, $—, $— and $—, respectively)		—		—		—		—
Unrealized depreciation on:
Forward foreign currency exchange contracts		—		188,176		455,467		176,048
Payables:
Collateral from securities lending program		57,635,312		74,451,214		—		124,410,338
Credit default swaps premiums		—		—		10,990		—
Dividends		591,354		1,357,663		44,262		2,599,287
Investments purchased		24,713,563		19,959,708		2,227,413		10,296,455
Shares redeemed		512,034		1,022,796		1,484		2,966,699
Variation margin on futures contracts		250,683		124,228		9,582		24,625
Variation margin on swap contracts		—		91,891		—		—
Accrued expenses:
Management fees		166,250		210,996		2,096		372,855
Directors/Trustees fees		13,545		18,212		92		15,009
12b-1 distribution and service fees		4,715		20,902		355		92,133
Other		135,866		174,938		46,680		263,348
Total liabilities		84,023,322		97,620,724		2,938,118		141,216,797
Net assets	$	500,004,541	$	673,525,534	$	17,636,897	$	706,682,869

(1) Restricted cash collateral for swaps.

See accompanying notes to financial statements.

Nuveen Investments 135

Statement of Assets & Liabilities (continued)

June 30, 2013

	Core Bond			Core Plus Bond			Global Total Return Bond			High Income Bond
Class A Shares
Net assets	$	18,331,285		$	79,739,863		$	1,037,370		$	141,132,207
Shares outstanding		1,809,777			6,961,007			50,509			15,693,786
Net asset value per share	$	10.13		$	11.46		$	20.54		$	8.99
Offering price per share (net asset value per share plus maximum sales charge of 3.00%, 4.25%, 4.75% and 4.75%, respectively, of offering price)	$	10.44		$	11.97		$	21.56		$	9.44
Class B Shares
Net assets		N/A		$	608,198			N/A		$	1,523,861
Shares outstanding		N/A			53,604			N/A			170,280
Net asset value and offering price per share		N/A		$	11.35			N/A		$	8.95
Class C Shares
Net assets	$	585,390		$	4,200,166		$	157,713		$	67,466,257
Shares outstanding		58,063			368,537			7,664			7,517,008
Net asset value and offering price per share	$	10.08		$	11.40		$	20.58		$	8.98
Class R3 Shares
Net assets		N/A		$	350,259		$	50,015		$	697,441
Shares outstanding		N/A			30,439			2,430			76,029
Net asset value and offering price per share		N/A		$	11.51		$	20.58		$	9.17
Class I Shares
Net assets	$	481,087,866		$	588,627,048		$	16,391,799		$	495,863,103
Shares outstanding		47,659,405			51,436,167			795,467			55,007,269
Net asset value and offering price per share	$	10.09		$	11.44		$	20.61		$	9.01
Net assets consist of:
Capital paid-in	$	494,929,018		$	652,808,041		$	17,342,770		$	701,492,872
Undistributed (Over-distribution of) net investment income		(940,797	)		(1,663,128	)		498,232			(2,478,940	)
Accumulated net realized gain (loss)		5,593,762			1,762,724			207,637			16,242,239
Net unrealized appreciation (depreciation)		422,558			20,617,897			(411,742	)		(8,573,302	)
Net assets	$	500,004,541		$	673,525,534		$	17,636,897		$	706,682,869
Authorized shares – per class		2 billion			2 billion			Unlimited			2 billion
Par value per share	$	.0001		$	.0001		$	0.01		$	.0001

N/A – Core Bond does not offer Class B Shares or Class R3 Shares. Global Total Return Bond does not offer Class B Shares.

See accompanying notes to financial statements.

136 Nuveen Investments

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Assets
Long-term investments, at value (cost $378,278,834, $63,258,081, $928,117,400 and $612,792,657, respectively)	$	375,301,401	$	64,228,069	$	931,912,306	$	610,707,612
Investments purchased with collateral from securities lending, at value (cost approximates value)		15,202,864		500,625		43,179,225		67,716,896
Short-term investments, at value (cost approximates value)		—		1,758,968		32,859,019		681,517
Cash denominated in foreign currencies (cost $—, $—, $453 and $—, respectively)		—		—		347		—
Cash		318,397		—		97,970		—
Restricted cash(1)		—		—		—		968,071
Credit default swaps premiums paid		—		—		162,512		667,191
Unrealized appreciation on:
Forward foreign currency exchange contracts		—		—		—		3,769,842
Interest rate swaps		—		—		—		3,191,088
Call options purchased, at value (premiums paid $—, $—, $— and $81,130, respectively)		—		—		—		—
Receivables:
Credit default swaps premiums		—		—		—		374,236
Deposits with brokers for open futures contracts		294,000		63,000		943,000		758,000
Deposits with brokers for exchange traded swaps		—		—		675,460		299,293
Dividends		8,674		—		—		79,133
Due from broker		8,577		6,783		18,528		26,053
Interest		1,789,971		269,748		5,581,272		7,933,025
Investments sold		—		57,495		366,097		12,145,810
Reclaims		—		—		—		4,875
Shares sold		429,253		10,684		1,718,971		872,077
Variation margin on futures contracts		13,508		—		28,203		28,856
Variation margin on swap contracts		—		—		—		—
Other assets		5,497		79		66,810		98,442
Total assets		393,372,142		66,895,451		1,017,609,720		710,322,017
Liabilities
Cash overdraft		—		—		—		—
Cash overdraft denominated in foreign currencies (cost $—, $—, $— and $5,593, respectively)		—		—		—		6,944
Unrealized depreciation on:
Forward foreign currency exchange contracts		—		—		—		4,974,868
Payables:
Collateral from securities lending program		15,202,864		500,625		43,179,225		67,716,896
Credit default swaps premiums		—		—		—		—
Dividends		341,722		62,621		1,046,701		1,736,172
Investments purchased		—		1,603,432		51,286,762		4,159,717
Shares redeemed		944,662		66,011		14,516,752		1,818,992
Variation margin on futures contracts		83,625		10,281		13,757		73,057
Variation margin on swap contracts		—		—		278,470		180,996
Accrued expenses:
Management fees		156,198		11,134		260,513		230,548
Directors/Trustees fees		7,458		365		19,611		15,016
12b-1 distribution and service fees		14,873		3,662		62,463		47,286
Other		187,180		54,051		194,081		168,913
Total liabilities		16,938,582		2,312,182		110,858,335		81,129,405
Net assets	$	376,433,560	$	64,583,269	$	906,751,385	$	629,192,612

(1) Restricted cash collateral for swaps.

See accompanying notes to financial statements.

Nuveen Investments 137

Statement of Assets & Liabilities (continued)

June 30, 2013

	Inflation Protected Securities			Intermediate Government Bond			Short Term Bond			Strategic Income
Class A Shares
Net assets	$	21,949,429		$	11,033,693		$	141,098,983		$	72,341,331
Shares outstanding		1,981,273			1,255,541			14,148,256			6,566,888
Net asset value per share	$	11.08		$	8.79		$	9.97		$	11.02
Offering price per share (net asset value per share plus maximum sales charge of 4.25%, 3.00%, 2.25% and 4.25%, respectively, of offering price)	$	11.57		$	9.06		$	10.20		$	11.51
Class B Shares
Net assets		N/A			N/A			N/A		$	1,487,514
Shares outstanding		N/A			N/A			N/A			135,806
Net asset value and offering price per share		N/A			N/A			N/A		$	10.95
Class C Shares
Net assets	$	9,761,192		$	1,090,141		$	44,414,156		$	35,146,291
Shares outstanding		885,107			123,869			4,441,794			3,211,380
Net asset value and offering price per share	$	11.03		$	8.80		$	10.00		$	10.94
Class R3 Shares
Net assets	$	519,059		$	168,381		$	516,424		$	2,925,650
Shares outstanding		46,970			19,178			51,713			264,666
Net asset value and offering price per share	$	11.05		$	8.78		$	9.99		$	11.05
Class I Shares
Net assets	$	344,203,880		$	52,291,054		$	720,721,822		$	517,291,826
Shares outstanding		30,900,989			5,944,479			72,240,327			46,978,354
Net asset value and offering price per share	$	11.14		$	8.80		$	9.98		$	11.01
Net assets consist of:
Capital paid-in	$	374,761,792		$	71,071,124		$	926,658,520		$	658,126,688
Undistributed (Over-distribution of) net investment income		(434,449	)		(115,132	)		(1,509,662	)		13,956,128
Accumulated net realized gain (loss)		4,936,806			(7,372,898	)		(24,564,871	)		(43,705,078	)
Net unrealized appreciation (depreciation)		(2,830,589	)		1,000,175			6,167,398			814,874
Net assets	$	376,433,560		$	64,583,269		$	906,751,385		$	629,192,612
Authorized shares – per class		2 billion			2 billion			2 billion			2 billion
Par value per share	$	.0001		$	.0001		$	.0001		$	.0001

N/A – Inflation Protected Securities, Intermediate Government Bond and Short Term Bond do not offer Class B Shares.

See accompanying notes to financial statements.

138 Nuveen Investments

Statement of Operations

Year Ended June 30, 2013

	Core Bond			Core Plus Bond			Global Total Return Bond			High Income Bond
Investment Income
Dividend income (net of foreign dividend tax withheld of $—, $—, $— and $12,626, respectively)	$	—		$	860,522		$	18,940		$	4,232,100
Interest income (net of foreign interest tax withheld of $—, $—, $— and $19,500, respectively)		14,034,961			30,537,795			701,450			53,296,424
Securities lending income, net		105,948			141,894			—			731,660
Total investment income		14,140,909			31,540,211			720,390			58,260,184
Expenses
Management fees		2,630,404			3,407,914			96,793			4,147,980
12b-1 service fees – Class A		53,062			211,713			2,344			388,985
12b-1 distribution and service fees – Class B		N/A			8,460			N/A			17,530
12b-1 distribution and service fees – Class C		14,412			46,647			963			625,311
12b-1 distribution and service fees – Class R3		N/A			1,795			274			3,664
Shareholder servicing agent fees and expenses		216,577			346,567			1,025			452,921
Custodian fees and expenses		150,107			189,690			77,466			189,996
Directors/Trustees fees and expenses		15,051			18,977			587			18,797
Professional fees		66,671			73,735			44,492			61,751
Shareholder reporting expenses		22,812			46,438			46,280			86,324
Federal and state registration fees		50,996			68,099			33,394			142,364
Other expenses		21,778			28,276			10,243			27,010
Total expenses before fee waiver/expense reimbursement		3,241,870			4,448,311			313,861			6,162,633
Fee waiver/expense reimbursement		(83,320	)		(305,202	)		(187,147	)		—
Net expenses		3,158,550			4,143,109			126,714			6,162,633
Net investment income (loss)		10,982,359			27,397,102			593,676			52,097,551
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments and foreign currency		13,247,549			13,379,331			255,749			32,830,342
Forward foreign currency exchange contracts		—			—			193,248			—
Futures contracts		(964,275	)		(542,476	)		9,324			24,640
Options purchased		—			(201,554	)		(1,819	)		—
Options written		—			—			(451	)		—
Swaps		(1,680,438	)		(2,763,163	)		117,190			—
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(20,100,906	)		(22,412,660	)		(741,357	)		(4,035,241	)
Forward foreign currency exchange contracts		—			(167,282	)		(131,026	)		(157,736	)
Futures contracts		(273,507	)		2,796,555			47,954			785,330
Options purchased		—			—			(4,270	)		—
Swaps		1,530,864			4,532,764			53,666			—
Net realized and unrealized gain (loss)		(8,240,713	)		(5,378,485	)		(201,792	)		29,447,335
Net increase (decrease) in net assets from operations	$	2,741,646		$	22,018,617		$	391,884		$	81,544,886

N/A – Core Bond does not offer Class B Shares or Class R3 Shares. Global Total Return Bond does not offer Class B Shares.

See accompanying notes to financial statements.

Nuveen Investments 139

Statement of Operations (continued)

Year Ended June 30, 2013

	Inflation Protected Securities			Intermediate Government Bond			Short Term Bond			Strategic Income
Investment Income
Dividend income (net of foreign dividend tax withheld of $—, $—, $— and $—, respectively)	$	53,663		$	—		$	—		$	1,172,206
Interest income (net of foreign interest tax withheld of $—, $—, $— and $14,161, respectively)		5,159,790			1,801,821			23,841,520			33,408,444
Securities lending income, net		51,936			2,908			191,165			236,930
Total investment income		5,265,389			1,804,729			24,032,685			34,817,580
Expenses
Management fees		1,655,236			349,464			3,459,799			3,463,746
12b-1 service fees – Class A		66,384			29,609			291,327			162,783
12b-1 distribution and service fees – Class B		N/A			N/A			N/A			18,879
12b-1 distribution and service fees – Class C		114,279			14,852			411,421			341,343
12b-1 distribution and service fees – Class R3		1,616			1,016			2,455			12,202
Shareholder servicing agent fees and expenses		272,449			42,818			272,229			240,831
Custodian fees and expenses		93,791			47,300			240,213			205,632
Directors/Trustees fees and expenses		10,290			2,011			22,893			16,306
Professional fees		59,498			45,612			79,373			80,656
Shareholder reporting expenses		33,801			18,061			56,994			47,393
Federal and state registration fees		68,690			51,887			80,150			82,500
Other expenses		12,564			8,415			87,932			61,193
Total expenses before fee waiver/expense reimbursement		2,388,598			611,045			5,004,786			4,733,464
Fee waiver/expense reimbursement		—			(119,207	)		(167,226	)		(410,663	)
Net expenses		2,388,598			491,838			4,837,560			4,322,801
Net investment income (loss)		2,876,791			1,312,891			19,195,125			30,494,779
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments and foreign currency		8,100,876			152,250			4,872,817			22,569,723
Forward foreign currency exchange contracts		(191,827	)		—			—			4,687,862
Futures contracts		238,486			115,320			169,909			(962,426	)
Options purchased		—			—			—			(4,865	)
Options written		—			—			—			(125,856	)
Swaps		(391,994	)		—			(1,226,046	)		1,742,931
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(30,963,087	)		(1,871,221	)		(4,721,407	)		(23,595,326	)
Forward foreign currency exchange contracts		110,837			—			—			(2,175,164	)
Futures contracts		153,262			18,406			2,383,929			1,358,805
Options purchased		—			—			—			(81,130	)
Swaps		348,311			—			1,253,612			4,672,411
Net realized and unrealized gain (loss)		(22,595,136	)		(1,585,245	)		2,732,814			8,086,965
Net increase (decrease) in net assets from operations	$	(19,718,345	)	$	(272,354	)	$	21,927,939		$	38,581,744

N/A – Inflation Protected Securities, Intermediate Government Bond and Short Term Bond do not offer Class B Shares.

See accompanying notes to financial statements.

140 Nuveen Investments

Statement of Changes in Net Assets

	Core Bond						Core Plus Bond
	Year Ended 6/30/13			Year Ended 6/30/12			Year Ended 6/30/13			Year Ended 6/30/12
Operations
Net investment income (loss)	$	10,982,359		$	18,776,322		$	27,397,102		$	34,479,201
Net realized gain (loss) from:
Investments and foreign currency		13,247,549			19,955,520			13,379,331			18,705,021
Forward foreign currency exchange contracts		—			—			—			—
Futures contracts		(964,275	)		(1,294,926	)		(542,476	)		(7,955,883	)
Options purchased		—			—			—			—
Options written		—			—			(201,554	)		—
Swaps		(1,680,438	)		(767,968	)		(2,763,163	)		(1,725,955	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(20,100,906	)		(2,991,611	)		(22,412,660	)		9,052,404
Forward foreign currency exchange contracts		—			—			(167,282	)		—
Futures contracts		(273,507	)		(132,059	)		2,796,555			(1,449,836	)
Options purchased		—			—			—			—
Options written		—			—			—			—
Swaps		1,530,864			(72,804	)		4,532,764			52,980
Net increase (decrease) in net assets from operations		2,741,646			33,472,474			22,018,617			51,157,932
Distributions to Shareholders
From net investment income:
Class A		(355,614	)		(619,682	)		(2,992,583	)		(3,053,035	)
Class B		N/A			N/A			(23,699	)		(41,242	)
Class C		(12,814	)		(22,754	)		(132,087	)		(117,724	)
Class R3		N/A			N/A			(11,951	)		(12,214	)
Class I		(10,711,280	)		(18,978,358	)		(25,029,784	)		(32,189,815	)
From accumulated net realized gains:
Class A		(677,261	)		(33,008	)		(342,229	)		—
Class B		N/A			N/A			(3,438	)		—
Class C		(48,125	)		(1,212	)		(19,355	)		—
Class R3		N/A			N/A			(1,416	)		—
Class I		(17,500,782	)		(1,010,912	)		(2,627,486	)		—
Decrease in net assets from distributions to shareholders		(29,305,876	)		(20,665,926	)		(31,184,028	)		(35,414,030	)
Fund Share Transactions
Fund reorganization		—			—			—			—
Proceeds from sale of shares		64,797,013			166,920,130			87,088,590			112,240,499
Proceeds from shares issued to shareholders due to reinvestment of distributions		11,913,545			6,049,154			11,485,188			12,143,026
		76,710,558			172,969,284			98,573,778			124,383,525
Cost of shares redeemed		(194,037,829	)		(222,662,884	)		(223,588,126	)		(349,839,594	)
Net increase (decrease) in net assets from Fund share transactions		(117,327,271	)		(49,693,600	)		(125,014,348	)		(225,456,069	)
Net increase (decrease) in net assets		(143,891,501	)		(36,887,052	)		(134,179,759	)		(209,712,167	)
Net assets at the beginning of period		643,896,042			680,783,094			807,705,293			1,017,417,460
Net assets at the end of period	$	500,004,541		$	643,896,042		$	673,525,534		$	807,705,293
Undistributed (Over-distribution of) net investment income at the end of period	$	(940,797	)	$	(1,571,679)		$	(1,663,128	)	$	(257,304	)

N/A – Core Bond does not offer Class B or Class R3 Shares.

See accompanying notes to financial statements.

Nuveen Investments 141

Statement of Changes in Net Assets (continued)

	Global Total Return Bond						High Income Bond
	Year Ended 6/30/13			Period 12/02/11 (commencement of operations) through 6/30/12			Year Ended 6/30/13			Year Ended 6/30/12
Operations
Net investment income (loss)	$	593,676		$	292,301		$	52,097,551		$	44,589,539
Net realized gain (loss) from:
Investments and foreign currency		255,749			2,886			32,830,342			(13,744,653	)
Forward foreign currency exchange contracts		193,248			324,366			—			—
Futures contracts		9,324			2,222			24,640			(67,967	)
Options purchased		(1,819	)		(29,297	)		—			—
Options written		(451	)		2,460			—			—
Swaps		117,190			119,949			—			—
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(741,357	)		310,794			(4,035,241	)		(5,098,028	)
Forward foreign currency exchange contracts		(131,026	)		50,608			(157,736	)		—
Futures contracts		47,954			6,108			785,330			12,132
Options purchased		(4,270	)		—			—			—
Options written		—			—			—			—
Swaps		53,666			(4,219	)		—			—
Net increase (decrease) in net assets from operations		391,884			1,078,178			81,544,886			25,691,023
Distributions to Shareholders
From net investment income:
Class A		(35,960	)		(2,712	)		(11,284,624	)		(5,735,501	)
Class B		N/A			N/A			(117,102	)		(132,288	)
Class C		(2,925	)		(596	)		(4,119,190	)		(2,477,744	)
Class R3		(1,997	)		(688	)		(52,093	)		(33,439	)
Class I		(658,553	)		(215,380	)		(39,152,850	)		(36,583,834	)
From accumulated net realized gains:
Class A		(17,638	)		—			—			(298,280	)
Class B		N/A			N/A			—			(7,773	)
Class C		(1,263	)		—			—			(148,234	)
Class R3		(930	)		—			—			(1,386	)
Class I		(270,907	)		—			—			(1,460,981	)
Decrease in net assets from distributions to shareholders		(990,173	)		(219,376	)		(54,725,859	)		(46,879,460	)
Fund Share Transactions
Fund reorganization		—			—			—			104,870,978
Proceeds from sale of shares		4,253,342			14,322,080			365,971,376			228,987,881
Proceeds from shares issued to shareholders due to reinvestment of distributions		94,699			1,978			20,215,234			12,427,284
		4,348,041			14,324,058			386,186,610			346,286,143
Cost of shares redeemed		(1,295,217	)		(498	)		(314,765,353	)		(219,810,557	)
Net increase (decrease) in net assets from Fund share transactions		3,052,824			14,323,560			71,421,257			126,475,586
Net increase (decrease) in net assets		2,454,535			15,182,362			98,240,284			105,287,149
Net assets at the beginning of period		15,182,362			—			608,442,585			503,155,436
Net assets at the end of period	$	17,636,897		$	15,182,362		$	706,682,869		$	608,442,585
Undistributed (Over-distribution of) net investment income at the end of period	$	498,232		$	405,210		$	(2,478,940	)	$	110,337

N/A – Global Total Return Bond does not offer Class B Shares.

See accompanying notes to financial statements.

142 Nuveen Investments

	Inflation Protected Securities						Intermediate Government Bond
	Year Ended 6/30/13			Year Ended 6/30/12			Year Ended 6/30/13			Year Ended 6/30/12
Operations
Net investment income (loss)	$	2,876,791		$	6,886,379		$	1,312,891		$	2,239,298
Net realized gain (loss) from:
Investments and foreign currency		8,100,876			8,964,913			152,250			1,568,618
Forward foreign currency exchange contracts		(191,827	)		167,168			—			—
Futures contracts		238,486			60,629			115,320			685,111
Options purchased		—			—			—			—
Options written		—			—			—			—
Swaps		(391,994	)		(127,943	)		—			—
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(30,963,087	)		18,437,020			(1,871,221	)		108,077
Forward foreign currency exchange contracts		110,837			(110,837	)		—			—
Futures contracts		153,262			(82,693	)		18,406			22,105
Options purchased		—			—			—			—
Options written		—			—			—			—
Swaps		348,311			(44,170	)		—			—
Net increase (decrease) in net assets from operations		(19,718,345	)		34,150,466			(272,354	)		4,623,209
Distributions to Shareholders
From net investment income:
Class A		(272,077	)		(468,815	)		(218,850	)		(291,024	)
Class B		N/A			N/A			N/A			N/A
Class C		(57,189	)		(180,484	)		(15,578	)		(16,266	)
Class R3		(2,345	)		(3,148	)		(3,228	)		(8,188	)
Class I		(4,430,072	)		(10,662,479	)		(1,250,387	)		(2,051,257	)
From accumulated net realized gains:
Class A		—			—			—			—
Class B		N/A			N/A			N/A			N/A
Class C		—			—			—			—
Class R3		—			—			—			—
Class I		—			—			—			—
Decrease in net assets from distributions to shareholders		(4,761,683	)		(11,314,926	)		(1,488,043	)		(2,366,735	)
Fund Share Transactions
Fund reorganization		—			—			—			—
Proceeds from sale of shares		160,616,545			148,914,630			11,783,243			12,589,884
Proceeds from shares issued to shareholders due to reinvestment of distributions		781,092			1,571,415			506,408			853,309
		161,397,637			150,486,045			12,289,651			13,443,193
Cost of shares redeemed		(111,075,769	)		(98,068,926	)		(30,393,108	)		(46,188,783	)
Net increase (decrease) in net assets from Fund share transactions		50,321,868			52,417,119			(18,103,457	)		(32,745,590	)
Net increase (decrease) in net assets		25,841,840			75,252,659			(19,863,854	)		(30,489,116	)
Net assets at the beginning of period		350,591,720			275,339,061			84,447,123			114,936,239
Net assets at the end of period	$	376,433,560		$	350,591,720		$	64,583,269		$	84,447,123
Undistributed (Over-distribution of) net investment income at the end of period	$	(434,449	)	$	1,461,219		$	(115,132	)	$	(13,772	)

N/A – Inflation Protected Securities and Intermediate Government Bond do not offer Class B Shares.

See accompanying notes to financial statements.

Nuveen Investments 143

Statement of Changes in Net Assets (continued)

	Short Term Bond						Strategic Income
	Year Ended 6/30/13			Year Ended 6/30/12			Year Ended 6/30/13			Year Ended 6/30/12
Operations
Net investment income (loss)	$	19,195,125		$	20,123,049		$	30,494,779		$	27,319,766
Net realized gain (loss) from:
Investments and foreign currency		4,872,817			4,661,657			22,569,723			12,429,444
Forward foreign currency exchange contracts		—			(149,386	)		4,687,862			(102,811	)
Futures contracts		169,909			(7,223,699	)		(962,426	)		(7,719,289	)
Options purchased		—			—			(4,865	)		(1,715,583	)
Options written		(1,226,046	)		—			(125,856	)		(321,084	)
Swaps		—			(2,188,004	)		1,742,931			(883,712	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		(4,721,407	)		(3,980,585	)		(23,595,326	)		4,637,040
Forward foreign currency exchange contracts		—			92,822			(2,175,164	)		956,394
Futures contracts		2,383,929			458,809			1,358,805			(509,763	)
Options purchased		—			—			(81,130	)		—
Options written		—			—			—			(113,961	)
Swaps		1,253,612			(514,179	)		4,672,411			(491,079	)
Net increase (decrease) in net assets from operations		21,927,939			11,280,484			38,581,744			33,485,362
Distributions to Shareholders
From net investment income:
Class A		(2,413,639	)		(2,658,693	)		(2,828,988	)		(1,766,560	)
Class B		N/A			N/A			(67,636	)		(59,799	)
Class C		(534,379	)		(558,375	)		(1,233,628	)		(721,977	)
Class R3		(8,691	)		(6,394	)		(100,573	)		(48,682	)
Class I		(16,946,348	)		(17,689,020	)		(24,786,771	)		(24,363,476	)
From accumulated net realized gains:
Class A		—			—			—			—
Class B		N/A			N/A			—			—
Class C		—			—			—			—
Class R3		—			—			—			—
Class I		—			—			—			—
Decrease in net assets from distributions to shareholders		(19,903,057	)		(20,912,482	)		(29,017,596	)		(26,960,494	)
Fund Share Transactions
Fund reorganization		—			153,886,513			—			81,128,697
Proceeds from sale of shares		477,087,186			385,977,366			160,424,451			120,219,679
Proceeds from shares issued to shareholders due to reinvestment of distributions		5,997,185			6,138,855			9,591,338			8,306,341
		483,084,371			546,002,734			170,015,789			209,654,717
Cost of shares redeemed		(461,242,790	)		(481,483,122	)		(172,933,942	)		(244,013,153	)
Net increase (decrease) in net assets from Fund share transactions		21,841,581			64,519,612			(2,918,153	)		(34,358,436	)
Net increase (decrease) in net assets		23,866,463			54,887,614			6,645,995			(27,833,568	)
Net assets at the beginning of period		882,884,922			827,997,308			622,546,617			650,380,185
Net assets at the end of period	$	906,751,385		$	882,884,922		$	629,192,612		$	622,546,617
Undistributed (Over-distribution of) net investment income at the end of period	$	(1,509,662	)	$	(96,445)		$	13,956,128		$	7,146,648

NA – Short Term Bond does not offer Class B Shares.

See accompanying notes to financial statements.

144 Nuveen Investments

[THIS PAGE INTENTIONALLY LEFT BLANK]

Nuveen Investments 145

Financial Highlights

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations								Less Distributions
CORE BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accumulated Net Realized Gains			Total			Ending Net Asset Value
Class A (1/95)
2013	$	10.67	$	.18	$	(.20	)	$	(.02	)	$	(.18	)	$	(.34	)	$	(.52	)	$	10.13
2012		10.47		.29		.23			.52			(.30	)		(.02	)		(.32	)		10.67
2011		10.33		.33		.14			.47			(.33	)		—			(.33	)		10.47
2010		9.47		.42		.86			1.28			(.42	)		—			(.42	)		10.33
2009		9.90		.48		(.40	)		.08			(.51	)		—			(.51	)		9.47
Class C (1/11)
2013		10.62		.09		(.19	)		(.10	)		(.09	)		(.35	)		(.44	)		10.08
2012		10.44		.19		.22			.41			(.22	)		(.01	)		(.23	)		10.62
2011(d)		10.37		.12		.06			.18			(.11	)		—			(.11	)		10.44
Class I (1/93)
2013		10.63		.20		(.20	)		—			(.21	)		(.33	)		(.54	)		10.09
2012		10.43		.30		.23			.53			(.32	)		(.01	)		(.33	)		10.63
2011		10.29		.35		.14			.49			(.35	)		—			(.35	)		10.43
2010		9.43		.43		.86			1.29			(.43	)		—			(.43	)		10.29
2009		9.87		.49		(.40	)		.09			(.53	)		—			(.53	)		9.43

146 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(e)
	(.38	)%	$	18,331		.79	%		1.63	%		.78	%		1.65	%		85	%
	4.93			21,262		.95			2.61			.85			2.70			75
	4.70			22,502		.94			3.10			.85			3.20			58
	13.64			26,341		1.01			3.96			.85			4.12			58
	1.21			23,905		1.01			5.09			.85			5.25			41
	(1.17	)		585		1.54			.87			1.53			.88			85
	3.97			1,568		1.69			1.79			1.67			1.81			75
	1.76			1,152		1.79	*		2.46	*		1.70	*		2.56	*		58
	(.16	)		481,088		.54			1.88			.53			1.89			85
	5.18			621,066		.70			2.85			.68			2.87			75
	4.76			657,129		.74			3.30			.70			3.35			58
	13.87			734,924		.76			4.22			.70			4.28			58
	1.26			724,531		.76			5.33			.70			5.39			41

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For the period January 18, 2011 (commencement of operations) through June 30, 2011.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

* Annualized.

See accompanying notes to financial statements.

Nuveen Investments 147

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations								Less Distributions
CORE PLUS BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accumulated Net Realized Gains			Total			Ending Net Asset Value
Class A (12/87)
2013	$	11.64	$	.41	$	(.12	)	$	.29		$	(.42	)	$	(.05	)	$	(.47	)	$	11.46
2012		11.44		.41		.21			.62			(.42	)		—			(.42	)		11.64
2011		11.22		.43		.21			.64			(.42	)		—			(.42	)		11.44
2010		10.04		.51		1.18			1.69			(.51	)		—			(.51	)		11.22
2009		10.86		.61		(.81	)		(.20	)		(.62	)		—			(.62	)		10.04
Class B (8/94)
2013		11.54		.32		(.13	)		.19			(.33	)		(.05	)		(.38	)		11.35
2012		11.34		.32		.21			.53			(.33	)		—			(.33	)		11.54
2011		11.12		.34		.21			.55			(.33	)		—			(.33	)		11.34
2010		9.95		.43		1.17			1.60			(.43	)		—			(.43	)		11.12
2009		10.77		.54		(.81	)		(.27	)		(.55	)		—			(.55	)		9.95
Class C (2/99)
2013		11.59		.32		(.12	)		.20			(.34	)		(.05	)		(.39	)		11.40
2012		11.40		.32		.21			.53			(.34	)		—			(.34	)		11.59
2011		11.18		.34		.21			.55			(.33	)		—			(.33	)		11.40
2010		10.00		.42		1.19			1.61			(.43	)		—			(.43	)		11.18
2009		10.83		.54		(.82	)		(.28	)		(.55	)		—			(.55	)		10.00
Class R3 (9/01)
2013		11.70		.38		(.12	)		.26			(.40	)		(.05	)		(.45	)		11.51
2012		11.50		.38		.22			.60			(.40	)		—			(.40	)		11.70
2011		11.27		.40		.22			.62			(.39	)		—			(.39	)		11.50
2010		10.09		.48		1.19			1.67			(.49	)		—			(.49	)		11.27
2009		10.89		.59		(.79	)		(.20	)		(.60	)		—			(.60	)		10.09
Class I (2/94)
2013		11.64		.44		(.14	)		.30			(.45	)		(.05	)		(.50	)		11.44
2012		11.44		.44		.21			.65			(.45	)		—			(.45	)		11.64
2011		11.21		.46		.22			.68			(.45	)		—			(.45	)		11.44
2010		10.03		.54		1.18			1.72			(.54	)		—			(.54	)		11.21
2009		10.86		.64		(.82	)		(.18	)		(.65	)		—			(.65	)		10.03

148 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(d)(e)
	2.40	%	$	79,740		.81	%		3.42	%		.77	%		3.46	%		46	%
	5.52			83,264		.97			3.51			.93			3.55			98
	5.73			85,980		.99			3.72			.94			3.77			91
	17.11			93,374		1.02			4.58			.95			4.65			83
	(1.37	)		82,373		1.02			6.27			.95			6.34			160
	1.56			608		1.56			2.65			1.52			2.69			46
	4.74			1,019		1.72			2.78			1.68			2.82			98
	4.97			1,805		1.74			2.97			1.69			3.02			91
	16.31			3,607		1.77			3.90			1.70			3.97			83
	(2.12	)		5,780		1.77			5.52			1.70			5.59			160
	1.59			4,200		1.56			2.67			1.52			2.71			46
	4.68			4,603		1.72			2.76			1.67			2.80			98
	4.97			3,711		1.74			2.97			1.69			3.02			91
	16.32			3,796		1.77			3.84			1.70			3.91			83
	(2.21	)		3,693		1.77			5.52			1.70			5.59			160
	2.11			350		1.06			3.18			1.02			3.22			46
	5.27			313		1.22			3.24			1.18			3.27			98
	5.54			380		1.23			3.47			1.19			3.52			91
	16.74			379		1.27			4.35			1.20			4.42			83
	(1.43	)		406		1.27			6.04			1.20			6.11			160
	2.52			588,627		.56			3.67			.52			3.71			46
	5.79			718,505		.72			3.76			.68			3.80			98
	6.09			925,541		.74			3.97			.69			4.02			91
	17.42			1,179,453		.77			4.86			.70			4.93			83
	(1.22	)		1,279,489		.77			6.50			.70			6.57			160

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For fiscal years beginning after June 30, 2011, the Fund will no longer exclude dollar roll transactions, where applicable.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

Nuveen Investments 149

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations							Less Distributions
GLOBAL TOTAL RETURN BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total		From Net Invest- ment Income			From Accum- ulated Net Realized Gains			Total			Ending Net Asset Value
CLASS A (12/11)
2013	$	21.19	$	.72	$	(.14	)	$	.58	$	(.86	)	$	(.37	)	$	(1.23	)	$	20.54
2012(d)		20.00		.41		1.07			1.48		(.29	)		—			(.29	)		21.19
CLASS C (12/11)
2013		21.18		.56		(.10	)		.46		(.69	)		(.37	)		(1.06	)		20.58
2012(d)		20.00		.29		1.13			1.42		(.24	)		—			(.24	)		21.18
CLASS R3 (12/11)
2013		21.20		.66		(.11	)		.55		(.80	)		(.37	)		(1.17	)		20.58
2012(d)		20.00		.35		1.13			1.48		(.28	)		—			(.28	)		21.20
CLASS I (12/11)
2013		21.23		.77		(.11	)		.66		(.91	)		(.37	)		(1.28	)		20.61
2012(d)		20.00		.42		1.12			1.54		(.31	)		—			(.31	)		21.23

150 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(e)
	2.47	%	$	1,037		2.16	%		2.10	%		.97	%		3.29	%		176	%
	7.42			310		2.44	*		1.99	*		.98	*		3.46	*		116
	1.94			158		2.99			1.29			1.72			2.56			176
	7.10			53		2.74	*		1.41	*		1.72	*		2.42	*		116
	2.34			50		2.31			1.91			1.22			3.00			176
	7.38			53		2.24	*		1.91	*		1.23	*		2.92	*		116
	2.86			16,392		1.81			2.41			.72			3.50			176
	7.71			14,767		1.74	*		2.41	*		.73	*		3.42	*		116

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For the period December 2, 2011 (commencement of operations) through June 30, 2012.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

* Annualized.

See accompanying notes to financial statements.

Nuveen Investments 151

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations								Less Distributions
HIGH INCOME BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accumu- lated Net Realized Gains			Total			Ending Net Asset Value
Class A (8/01)
2013	$	8.64	$	.63	$	.39		$	1.02		$	(.67	)	$	—		$	(.67	)	$	8.99
2012		9.05		.69		(.38	)		.31			(.69	)		(.03	)		(.72	)		8.64
2011		8.28		.67		.76			1.43			(.66	)		—			(.66	)		9.05
2010		7.15		.67		1.12			1.79			(.66	)		—			(.66	)		8.28
2009		8.65		.73		(1.47	)		(.74	)		(.76	)		—			(.76	)		7.15
Class B (8/01)
2013		8.59		.57		.39			.96			(.60	)		—			(.60	)		8.95
2012		8.98		.62		(.36	)		.26			(.62	)		(.03	)		(.65	)		8.59
2011		8.23		.60		.74			1.34			(.59	)		—			(.59	)		8.98
2010		7.11		.60		1.12			1.72			(.60	)		—			(.60	)		8.23
2009		8.61		.68		(1.47	)		(.79	)		(.71	)		—			(.71	)		7.11
Class C (8/01)
2013		8.62		.56		.40			.96			(.60	)		—			(.60	)		8.98
2012		9.01		.63		(.37	)		.26			(.62	)		(.03	)		(.65	)		8.62
2011		8.25		.60		.75			1.35			(.59	)		—			(.59	)		9.01
2010		7.12		.60		1.13			1.73			(.60	)		—			(.60	)		8.25
2009		8.62		.68		(1.47	)		(.79	)		(.71	)		—			(.71	)		7.12
Class R3 (9/01)
2013		8.81		.62		.40			1.02			(.66	)		—			(.66	)		9.17
2012		9.23		.67		(.38	)		.29			(.68	)		(.03	)		(.71	)		8.81
2011		8.44		.66		.77			1.43			(.64	)		—			(.64	)		9.23
2010		7.28		.66		1.14			1.80			(.64	)		—			(.64	)		8.44
2009		8.79		.73		(1.49	)		(.76	)		(.75	)		—			(.75	)		7.28
Class I (8/01)
2013		8.65		.66		.39			1.05			(.69	)		—			(.69	)		9.01
2012		9.05		.71		(.37	)		.34			(.71	)		(.03	)		(.74	)		8.65
2011		8.29		.69		.75			1.44			(.68	)		—			(.68	)		9.05
2010		7.16		.69		1.12			1.81			(.68	)		—			(.68	)		8.29
2009		8.66		.75		(1.47	)		(.72	)		(.78	)		—			(.78	)		7.16

152 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(d)
	11.99	%	$	141,132		.94	%		6.92	%		.94	%		6.92	%		133	%
	3.76			92,018		1.06			7.98			1.04			7.99			124
	17.61			30,984		1.22			7.38			1.10			7.50			130
	25.47			29,532		1.29			7.93			1.10			8.12			132
	(7.26	)		25,696		1.36			10.53			1.10			10.79			108
	11.34			1,524		1.70			6.26			1.70			6.26			133
	3.18			1,843		1.82			7.23			1.80			7.26			124
	16.59			1,285		1.98			6.64			1.85			6.76			130
	24.56			1,628		2.04			7.28			1.85			7.47			132
	(7.99	)		2,157		2.11			9.66			1.85			9.92			108
	11.33			67,466		1.70			6.21			1.70			6.21			133
	3.18			48,667		1.80			7.26			1.79			7.27			124
	16.67			9,792		1.97			6.64			1.85			6.76			130
	24.67			6,969		2.04			7.22			1.85			7.41			132
	(7.98	)		5,038		2.11			9.72			1.85			9.98			108
	11.79			697		1.19			6.69			1.19			6.69			133
	3.46			615		1.31			7.66			1.29			7.68			124
	17.28			309		1.47			7.12			1.35			7.25			130
	25.12			343		1.54			7.73			1.35			7.92			132
	(7.49	)		265		1.61			10.46			1.35			10.72			108
	12.39			495,863		.70			7.24			.70			7.24			133
	4.15			465,299		.84			8.19			.80			8.23			124
	17.77			460,785		.97			7.63			.85			7.75			130
	25.75			350,066		1.04			8.19			.85			8.38			132
	(7.01	)		182,051		1.11			10.67			.85			10.93			108

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

Nuveen Investments 153

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations									Less Distributions
INFLATION PROTECTED SECURITIES
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)			Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accum- ulated Net Realized Gains		Return of Capital			Total			Ending Net Asset Value
Class A (10/04)
2013	$	11.80	$	.07		$	(.66	)	$	(.59	)	$	(.13	)	$	—	$	—		$	(.13	)	$	11.08
2012		10.94		.23			1.01			1.24			(.38	)		—		—			(.38	)		11.80
2011		10.33		.35			.40			.75			(.14	)		—		—			(.14	)		10.94
2010		9.59		.28			.73			1.01			(.27	)		—		—			(.27	)		10.33
2009		10.20		.14			(.37	)		(.23	)		(.26	)		—		(.12	)		(.38	)		9.59
Class C (10/04)
2013		11.72		(.03	)		(.60	)		(.63	)		(.06	)		—		—			(.06	)		11.03
2012		10.84		.14			1.00			1.14			(.26	)		—		—			(.26	)		11.72
2011		10.24		.26			.41			.67			(.07	)		—		—			(.07	)		10.84
2010		9.53		.18			.75			.93			(.22	)		—		—			(.22	)		10.24
2009		10.18		.11			(.43	)		(.32	)		(.21	)		—		(.12	)		(.33	)		9.53
Class R3 (10/04)
2013		11.74		.04			(.62	)		(.58	)		(.11	)		—		—			(.11	)		11.05
2012		10.84		.22			.97			1.19			(.29	)		—		—			(.29	)		11.74
2011		10.31		.11			.54			.65			(.12	)		—		—			(.12	)		10.84
2010		9.58		.26			.72			.98			(.25	)		—		—			(.25	)		10.31
2009		10.20		.13			(.39	)		(.26	)		(.24	)		—		(.12	)		(.36	)		9.58
Class I (10/04)
2013		11.81		.09			(.61	)		(.52	)		(.15	)		—		—			(.15	)		11.14
2012		10.96		.25			1.01			1.26			(.41	)		—		—			(.41	)		11.81
2011		10.34		.40			.38			.78			(.16	)		—		—			(.16	)		10.96
2010		9.59		.33			.71			1.04			(.29	)		—		—			(.29	)		10.34
2009		10.20		.23			(.45	)		(.22	)		(.27	)		—		(.12	)		(.39	)		9.59

154 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(d)
	(5.07	)%	$	21,949		.81	%		.56	%		.81	%		.56	%		52	%
	11.44			19,330		1.00			1.81			.84			1.97			47
	7.30			12,080		1.09			3.05			.85			3.30			45
	10.62			7,894		1.15			2.46			.84			2.77			72
	(2.18	)		5,439		1.10			1.27			.85			1.52			24
	(5.39	)		9,761		1.56			(.25	)		1.56			(.25	)		52
	10.62			9,703		1.75			1.05			1.59			1.21			47
	6.59			8,043		1.84			2.19			1.60			2.44			45
	9.76			6,673		1.91			1.47			1.60			1.78			72
	(3.03	)		1,406		1.84			.94			1.59			1.19			24
	(5.02	)		519		1.06			.32			1.06			.32			52
	11.10			173		1.25			1.72			1.09			1.88			47
	6.31			33		1.38			.78			1.10			1.05			45
	10.32			1,332		1.40			2.33			1.09			2.64			72
	(2.43	)		1,262		1.35			1.09			1.10			1.34			24
	(4.46	)		344,204		.56			.77			.56			.77			52
	11.62			321,386		.75			1.99			.59			2.15			47
	7.62			255,183		.84			3.49			.60			3.74			45
	10.92			156,983		.90			2.96			.59			3.27			72
	(2.03	)		167,501		.85			2.23			.60			2.48			24

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

Nuveen Investments 155

Financial Highlights(continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations								Less Distributions
INTERMEDIATE GOVERNMENT BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accum- ulated Net Realized Gains			Return of Capital			Total			Ending Net Asset Value
Class A (10/02)
2013	$	9.02	$	.14	$	(.20	)	$	(.06	)	$	(.17	)	$	—		$	—		$	(.17	)	$	8.79
2012		8.84		.18		.19			.37			(.19	)		—			—			(.19	)		9.02
2011		8.77		.20		.07			.27			(.20	)		—			—			(.20	)		8.84
2010		8.67		.20		.27			.47			(.20	)		(.17	)		—	*		(.37	)		8.77
2009		8.42		.19		.25			.44			(.19	)		—			—			(.19	)		8.67
Class C (10/09)
2013		9.03		.07		(.21	)		(.14	)		(.09	)		—			—			(.09	)		8.80
2012		8.85		.10		.20			.30			(.12	)		—			—			(.12	)		9.03
2011		8.77		.12		.08			.20			(.12	)		—			—			(.12	)		8.85
2010(d)		8.76		.09		.17			.26			(.08	)		(.17	)		—	*		(.25	)		8.77
Class R3 (10/09)
2013		9.01		.12		(.21	)		(.09	)		(.14	)		—			—			(.14	)		8.78
2012		8.84		.15		.18			.33			(.16	)		—			—			(.16	)		9.01
2011		8.77		.16		.08			.24			(.17	)		—			—			(.17	)		8.84
2010(d)		8.76		.09		.20			.29			(.11	)		(.17	)		—	*		(.28	)		8.77
Class I (10/02)
2013		9.03		.16		(.21	)		(.05	)		(.18	)		—			—			(.18	)		8.80
2012		8.84		.19		.21			.40			(.21	)		—			—			(.21	)		9.03
2011		8.77		.21		.07			.28			(.21	)		—			—			(.21	)		8.84
2010		8.67		.21		.27			.48			(.21	)		(.17	)		—	*		(.38	)		8.77
2009		8.42		.21		.25			.46			(.21	)		—			—			(.21	)		8.67

156 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(e)
	(.74	)%	$	11,034		1.01	%		1.41	%		.85	%		1.57	%		55	%
	4.24			12,735		1.11			1.65			.77			1.99			72
	3.10			14,086		1.10			1.85			.73			2.22			58
	5.50			19,003		1.19			1.89			.75			2.33			105
	5.30			10,496		1.15			1.82			.75			2.22			133
	(1.53	)		1,090		1.76			.66			1.60			.82			55
	3.35			1,438		1.86			.90			1.60			1.16			72
	2.32			1,417		1.89			1.05			1.58			1.37			58
	3.00			1,940		1.94	**		1.16	**		1.60	**		1.50	**		105
	(1.00	)		168		1.26			1.17			1.10			1.32			55
	3.79			214		1.36			1.39			1.10			1.66			72
	2.75			473		1.39			1.56			1.08			1.87			58
	3.34			652		1.44	**		1.44	**		1.10	**		1.78	**		105
	(.53	)		52,291		.76			1.67			.60			1.83			55
	4.50			70,060		.86			1.90			.60			2.16			72
	3.25			98,960		.89			2.05			.58			2.36			58
	5.66			152,088		.94			2.05			.60			2.39			105
	5.46			101,253		.90			2.11			.60			2.41			133

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For the period October 28, 2009 (commencement of operations) through June 30, 2010.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

* Rounds to less than $.01 per share.

** Annualized.

See accompanying notes to financial statements.

Nuveen Investments 157

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations							Less Distributions
SHORT TERM BOND
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total		From Net Invest- ment Income			From Accum- ulated Net Realized Gains		Total			Ending Net Asset Value
Class A (12/92)
2013	$	9.95	$	.20	$	.03		$	.23	$	(.21	)	$	—	$	(.21	)	$	9.97
2012		10.06		.24		(.10	)		.14		(.25	)		—		(.25	)		9.95
2011		9.98		.24		.06			.30		(.22	)		—		(.22	)		10.06
2010		9.66		.31		.34			.65		(.33	)		—		(.33	)		9.98
2009		9.89		.46		(.26	)		.20		(.43	)		—		(.43	)		9.66
Class C (10/09)
2013		9.97		.12		.04			.16		(.13	)		—		(.13	)		10.00
2012		10.09		.16		(.11	)		.05		(.17	)		—		(.17	)		9.97
2011		10.00		.15		.07			.22		(.13	)		—		(.13	)		10.09
2010(d)		9.95		.13		.06			.19		(.14	)		—		(.14	)		10.00
Class R3 (9/11)
2013		9.96		.17		.04			.21		(.18	)		—		(.18	)		9.99
2012(e)		9.85		.16		.13			.29		(.18	)		—		(.18	)		9.96
Class I (2/94)
2013		9.95		.22		.04			.26		(.23	)		—		(.23	)		9.98
2012		10.07		.26		(.11	)		.15		(.27	)		—		(.27	)		9.95
2011		9.99		.25		.06			.31		(.23	)		—		(.23	)		10.07
2010		9.67		.32		.34			.66		(.34	)		—		(.34	)		9.99
2009		9.89		.48		(.25	)		.23		(.45	)		—		(.45	)		9.67

158 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(f)
	2.30	%	$	141,099		.73	%		1.96	%		.71	%		1.99	%		42	%
	1.42			112,851		.82			2.33			.73			2.42			56
	3.00			80,927		.87			2.22			.73			2.37			58
	6.77			87,631		1.04			2.88			.75			3.17			44
	2.22			65,704		1.06			4.55			.74			4.87			54
	1.61			44,414		1.48			1.22			1.46			1.24			42
	.50			42,346		1.56			1.56			1.55			1.57			56
	2.22			5,101		1.66			1.45			1.58			1.53			58
	1.90			3,111		1.79	*		1.76	*		1.60	*		1.95	*		44
	2.10			516		.98			1.71			.96			1.73			42
	2.92			446		1.06	*		2.07	*		1.05	*		2.07	*		56
	2.65			720,722		.48			2.22			.46			2.23			42
	1.51			727,242		.57			2.59			.55			2.61			56
	3.16			741,969		.67			2.43			.58			2.52			58
	6.92			629,151		.79			3.07			.60			3.26			44
	2.48			315,024		.81			4.80			.59			5.02			54

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For the period October 28, 2009 (commencement of operations) through June 30, 2010.

(e) For the period September 23, 2011 (commencement of operations) through June 30, 2012.

(f) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

* Annualized.

See accompanying notes to financial statements.

Nuveen Investments 159

Financial Highlights (continued)

Selected data for a share outstanding throughout each period:
Class (Commencement Date)
			Investment Operations								Less Distributions
STRATEGIC INCOME
Year Ended June 30,	Beginning Net Asset Value		Net Invest- ment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Invest- ment Income			From Accum- ulated Net Realized Gains			Total			Ending Net Asset Value
Class A (2/00)
2013	$	10.83	$	.52	$	.16		$	.68		$	(.49	)	$	—		$	(.49	)	$	11.02
2012		10.72		.44		.10			.54			(.43	)		—			(.43	)		10.83
2011		10.27		.43		.45			.88			(.43	)		—			(.43	)		10.72
2010		9.01		.52		1.28			1.80			(.54	)		—			(.54	)		10.27
2009		9.90		.64		(.74	)		(.10	)		(.63	)		(.16	)		(.79	)		9.01
Class B (2/00)
2013		10.78		.43		.15			.58			(.41	)		—			(.41	)		10.95
2012		10.67		.36		.09			.45			(.34	)		—			(.34	)		10.78
2011		10.22		.35		.44			.79			(.34	)		—			(.34	)		10.67
2010		8.97		.45		1.26			1.71			(.46	)		—			(.46	)		10.22
2009		9.86		.58		(.74	)		(.16	)		(.57	)		(.16	)		(.73	)		8.97
Class C (2/00)
2013		10.76		.43		.16			.59			(.41	)		—			(.41	)		10.94
2012		10.65		.36		.09			.45			(.34	)		—			(.34	)		10.76
2011		10.20		.35		.44			.79			(.34	)		—			(.34	)		10.65
2010		8.96		.43		1.27			1.70			(.46	)		—			(.46	)		10.20
2009		9.84		.58		(.73	)		(.15	)		(.57	)		(.16	)		(.73	)		8.96
Class R3 (9/01)
2013		10.88		.49		.15			.64			(.47	)		—			(.47	)		11.05
2012		10.77		.41		.10			.51			(.40	)		—			(.40	)		10.88
2011		10.31		.41		.45			.86			(.40	)		—			(.40	)		10.77
2010		9.07		.42		1.32			1.74			(.50	)		—			(.50	)		10.31
2009		9.95		.62		(.73	)		(.11	)		(.61	)		(.16	)		(.77	)		9.07
Class I (2/00)
2013		10.83		.55		.15			.70			(.52	)		—			(.52	)		11.01
2012		10.71		.45		.12			.57			(.45	)		—			(.45	)		10.83
2011		10.26		.46		.44			.90			(.45	)		—			(.45	)		10.71
2010		9.01		.55		1.25			1.80			(.55	)		—			(.55	)		10.26
2009		9.89		.66		(.73	)		(.07	)		(.65	)		(.16	)		(.81	)		9.01

160 Nuveen Investments

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Invest- ment Income (Loss)			Expenses			Net Invest- ment Income (Loss)			Portfolio Turnover Rate(d)(e)
	6.25	%	$	72,341		.90	%		4.50	%		.84	%		4.57	%		69	%
	5.14			52,802		.93			4.01			.85			4.10			199
	8.69			25,045		1.05			3.93			.88			4.10			98
	20.21			28,165		1.13			4.98			.92			5.19			96
	.16			13,948		1.13			7.45			1.00			7.58			147
	5.30			1,488		1.65			3.73			1.59			3.79			69
	4.32			2,148		1.68			3.27			1.61			3.33			199
	7.84			1,116		1.80			3.22			1.73			3.29			98
	19.22			1,413		1.87			4.35			1.74			4.48			96
	(.58	)		1,719		1.88			6.71			1.75			6.84			147
	5.50			35,146		1.65			3.75			1.59			3.81			69
	4.32			31,085		1.67			3.30			1.60			3.37			199
	7.85			8,092		1.80			3.22			1.73			3.29			98
	19.13			6,748		1.88			4.21			1.75			4.34			96
	(.48	)		2,778		1.88			6.64			1.75			6.77			147
	5.89			2,926		1.15			4.27			1.09			4.34			69
	4.83			1,903		1.19			3.73			1.12			3.80			199
	8.40			1,020		1.29			3.73			1.23			3.79			98
	19.47			601		1.37			4.06			1.24			4.19			96
	.02			681		1.38			7.26			1.25			7.39			147
	6.42			517,292		.65			4.75			.59			4.81			69
	5.35			534,608		.69			4.19			.63			4.26			199
	8.99			615,107		.80			4.22			.73			4.29			98
	20.31			655,301		.87			5.31			.74			5.44			96
	.52			633,108		.88			7.64			.75			7.77			147

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable.

(d) For fiscal years beginning after June 30, 2011, the Fund will no longer exclude dollar roll transactions, where applicable.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases and sales (as disclosed in Footnote 5 – Investment Transactions) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

Nuveen Investments 161

Notes to Financial Statements

1. General Information and Significant Accounting Policies

General Information

Nuveen Investment Funds, Inc. and Nuveen Investment Trust (each a “Trust” and collectively, the “Trusts”), are open-end investment companies registered under the Investment Company Act of 1940, as amended. Nuveen Investment Funds, Inc. is comprised of the Nuveen Core Bond Fund (“Core Bond”) formerly Nuveen Intermediate Term Bond Fund, Nuveen Core Plus Bond Fund (“Core Plus Bond”), Nuveen Inflation Protected Securities Fund (“Inflation Protected Securities”), Nuveen Intermediate Government Bond Fund (“Intermediate Government Bond”), Nuveen Short Term Bond Fund (“Short Term Bond”) and Nuveen Strategic Income Fund (“Strategic Income”) and Nuveen Investment Trust is comprised of the Nuveen Global Total Return Bond Fund (“Global Total Return Bond”) (each a “Fund” and collectively, the “Funds”), as diversified funds, among others. Nuveen Investment Funds, Inc. was incorporated in the State of Maryland on August 20, 1987. Nuveen Investment Trust was organized as a Massachusetts business trust in 1996.

On December 31, 2012, the Funds’ investment adviser converted from a Delaware corporation to a Delaware limited liability company. As a result, Nuveen Fund Advisors, Inc., a wholly-owned subsidiary of Nuveen Investments, Inc. (“Nuveen”), changed its name to Nuveen Fund Advisors, LLC (the “Adviser”). There were no changes to the identities or roles of any personnel as a result of the change.

During the current reporting period, Core Bond changed its name from Nuveen Intermediate Term Bond Fund. There have been no changes to the investment objective, principal investment strategies and principal risks of the Fund.

Effective January 1, 2013, Global Total Return Bond is subject to regulation as a commodity pool under the Commodity Exchange Act, and the Adviser has registered with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator.

Core Bond

Core Bond’s investment objective is to provide investors with current income to the extent consistent with preservation of capital. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in bonds, such as U.S. government securities (securities issued or guaranteed by the U.S. government or its agencies or instrumentalities), including zero coupon securities, residential and commercial mortgage-backed securities, asset-backed securities, and corporate debt obligations, including obligations issued by special-purpose entities that are backed by corporate debt obligations. Bonds in the Fund will be rated investment grade at the time of purchase or, if unrated, determined to be of comparable quality by Nuveen Asset Management, LLC (the “Sub-Adviser”), a subsidiary of the Adviser. If the rating of a security is reduced or discounted after purchase, the Fund is not required to sell the security, but may consider doing so. At least 65% of the Fund’s debt securities must be either U.S. government securities or securities that are rated A or better or are unrated and of comparable quality as determined by the Adviser. Unrated securities will not exceed 25% of the Fund’s total assets.

The Fund may invest up to 25% of its total assets in U.S. dollar denominated debt obligations of foreign corporations and governments.

Under normal market conditions the Fund attempts to maintain a weighted average effective maturity for its portfolio securities of three to ten years and an average effective duration of two to six years. The Fund’s weighted average effective maturity and effective duration are measures of how the Fund may react to interest rate changes.

To generate additional income, the Fund may invest up to 25% of its total assets in dollar roll transactions. In a dollar roll transaction, the Fund sells mortgage-backed securities for delivery in the current month while contracting with the same party to repurchase similar securities at a future date.

The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts, interest rate caps, collars, and floors; swap agreements, including swap agreements on interest rates, security indexes and specific securities and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts that are traded on domestic securities exchanges, boards of trade, or similar entities and non-standardized derivatives contracts traded in the over-the-counter (“OTC”) market. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio, or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use derivatives to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Core Plus Bond

Core Plus Bond’s investment objective is to provide investors with high current income consistent with limited risk to capital. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in bonds such as U.S. government securities (securities issued or guaranteed by the U.S. government or its agencies or instrumentalities), including zero coupon securities, residential and commercial mortgage-backed securities, asset-backed securities and corporate debt obligations, including obligations issued by special-purpose entities that are backed by corporate debt obligations.

162 Nuveen Investments

During the period July 1, 2012 through February 28, 2013, up to 10% of the Fund’s total assets were able to be invested collectively in bonds rated lower than investment grade or unrated securities of comparable quality as determined by the Sub-Adviser (securities commonly referred to as “high yield” or “junk bonds”), non-dollar denominated debt obligations of foreign corporations and governments and debt obligations issued by governmental and corporate issuers that are located in emerging market countries. The Fund could invest up to 25% of its total assets in U.S. dollar denominated debt obligations of foreign corporations and governments that are not located in emerging market countries. The Fund invested primarily in bonds rated investment grade at the time of purchase by a nationally recognized statistical rating organization or in unrated securities of comparable quality. As noted above, however, up to 10% of the Fund’s total assets were able to be invested in securities that are rated lower than investment grade at the time of purchase or that are unrated and of comparable quality. Quality determinations regarding unrated securities were made by the Sub-Adviser. If the rating of a security was reduced or the credit quality of an unrated security declined after purchase, the Fund was not required to sell the security, but could consider doing so. At least 65% of the Fund’s debt securities were either U.S. government securities or securities that are rated A or better or are unrated and of comparable quality. Unrated securities did not exceed 25% of the Fund’s total assets.

Effective March 1, 2013, up to 20% of the Fund’s total assets may be invested in securities rated lower than investment grade or unrated securities of comparable quality as determined by the Sub-Adviser (securities commonly referred to as “high yield” or “junk bonds”). The Fund will not invest in securities rated lower than CCC at the time of purchase or in unrated securities of equivalent quality. The Fund may invest up to 35% of its total assets in debt obligations of foreign corporations and foreign governments. However, no more than 10% of the Fund’s total assets may be invested in debt obligations of corporations and governments that are located in emerging market countries. A country is considered to have an “emerging market” if it has a relatively low gross national product per capita compared to the world’s major economies, and the potential for rapid economic growth, provided that no issuer included in the Fund’s current benchmark index will be considered to be located in an emerging market country. Up to 10% of the Fund’s total assets may have non-U.S. dollar currency exposure from non-U.S. dollar denominated securities and currency derivatives, calculated on an absolute notional basis (i.e., adding together the absolute value of net long and net short exposures to non-U.S. dollar currencies). The Fund invests primarily in bonds rated investment grade at the time of purchase by a nationally recognized statistical rating organization or in unrated securities of comparable quality. As noted above, however, up to 20% of the Fund’s total assets may be invested in securities that are rated lower than investment grade at the time of purchase or that are unrated and of comparable quality. Quality determinations regarding unrated securities will be made by the Fund’s sub-adviser. If the rating of a security is reduced or the credit quality of an unrated security declines after purchase, the Fund is not required to sell the security, but may consider doing so. Unrated securities will not exceed 25% of the Fund’s total assets.

Global Total Return Bond

Global Total Return Bond’s investment objective is to seek total return. Under normal market conditions, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds from issuers located around the world. The bonds in which the Fund may invest may be of any maturity and include: debt obligations of foreign governments; domestic and foreign corporate debt obligations, including obligations issued by special-purpose entities that are backed by corporate debt obligations; U.S. government securities (securities issued or guaranteed by the U.S. government or its agencies or instrumentalities); residential and commercial mortgage-backed securities; and asset-backed securities.

Under normal market conditions, the Fund invests at least 40% of its net assets in non-U.S. issuers and is invested in issuers located in at least three countries (including the U.S.). The Fund may invest in debt obligations issued by governmental and corporate issuers located in emerging markets countries.

The Fund invests in securities that are U.S. dollar-denominated and in securities that are denominated in foreign currencies. As described in more detail below, the Fund may utilize various currency-related derivatives in an effort to enhance the Fund’s total return or to manage risk.

The Fund invests primarily in securities rated investment grade at the time of purchase or in unrated securities of comparable quality as determined by the Sub-Adviser. However, up to 30% of the Fund’s net assets may be invested in securities rated lower than investment grade or in unrated securities of comparable quality as determined by the Sub-Adviser (such securities commonly referred to as “high yield” or “junk bonds”).

The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; interest rate caps, collars, and floors; foreign currency contracts; options on foreign currencies; swap agreements, including swap agreements on interest rates, currency rates, security indexes and specific securities, and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts traded on domestic or foreign securities exchanges, boards of trade, or similar entities, and non-standardized derivatives contracts traded in the OTC market. The Fund may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to enhance returns. The Fund may also use derivatives to gain exposure to non-dollar denominated securities markets to the extent it does not do so through direct investments. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use any derivative to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Nuveen Investments 163

Notes to Financial Statements (continued)

High Income Bond

High Income Bond’s investment objective is to provide investors with a high level of current income. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in bonds rated lower than investment grade at the time of purchase or in unrated bonds of comparable quality (securities commonly referred to as “high-yield” securities or “junk bonds”). These bonds generally provide high income in an effort to compensate investors for their higher risk of default, which is the failure to make required interest or principal payments. High-yield bond issuers include small or relatively new companies lacking the history or capital to merit investment-grade status, former blue chip companies downgraded because of financial problems, companies electing to borrow heavily to finance or avoid a takeover or buyout, and firms with heavy debt loads. The Fund may invest in exchange-traded funds, closed-end funds, and other investment companies (“investment companies”).

There is no minimum rating requirement and no limitation on the average maturity or average effective duration of securities held by the Fund.

For the period July 1, 2012 through November 19, 2012, the Fund was able to invest up to 25% of its total assets in dollar denominated debt obligations of foreign corporations and governments. Up to 20% of the Fund’s total assets were able to be invested in dollar denominated debt obligations issued by governmental and corporate issuers that are located in emerging market countries. Effective November 15, 2012, the Fund may invest in debt obligations of foreign corporations and governments. Up to 20% of the Fund’s total assets may be invested in debt obligations issued by governmental and corporate issuers that are located in emerging market countries. A country is considered to have an “emerging market” if it has a relatively low gross national product per capita compared to the world’s major economies, and the potential for rapid economic growth, provided that no issuer included in the Fund’s current benchmark index will be considered to be located in an emerging market country.

For the period July 1, 2012 through November 19, 2012, the Fund was able to utilize the following derivatives: options; futures contracts; options on futures contracts; swap agreements, including swap agreements on interest rates, security indexes and specific securities, and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund was able to enter into standardized derivatives contracts traded on domestic or foreign securities exchanges, boards of trade, or similar entities, and non-standardized derivatives contracts traded in the OTC market. The Fund could have used these derivatives in an attempt to manage market risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund did not use any derivative to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Effective November 15, 2012, the Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; foreign currency contracts; options on foreign currencies; swap agreements, including interest rate swaps, currency swaps, total return swaps, and credit default swaps; and options on swap agreements. The Fund may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions.

Inflation Protected Securities

Inflation Protected Securities’ investment objective is to provide investors with total return while providing protection against inflation. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in inflation protected debt securities. These securities will be issued by the U.S. and non-U.S. governments, their agencies and instrumentalities, and domestic and foreign corporations. The Fund’s investments in U.S. Government inflation protected securities will include U.S. Treasury inflation protected securities as well as inflation protected securities issued by agencies and instrumentalities of the U.S. Government. Securities issued by the U.S. Treasury are backed by the full faith and credit of the U.S. Government. Some securities issued by agencies and instrumentalities of the U.S. Government are supported only by the credit of the issuing agency or instrumentality.

Inflation protected debt securities are designed to provide protection against the negative effects of inflation. Unlike traditional debt securities, which pay regular fixed interest payments on a fixed principal amount, interest payments on inflation protected debt securities will vary with the rate of inflation. The U.S. Treasury uses the Consumer Price Index for Urban Consumers (CPI-U) as the inflation measure. Inflation protected debt securities issued by foreign governments and corporations are generally linked to a non-U.S. inflation rate.

Inflation protected debt securities have two common structures. The U.S. Treasury and some other issuers use a structure that accrues inflation into the principal value of the bond. If the index measuring the rate of inflation rises, the principal value of the security will increase. Because interest payments will be calculated with respect to a larger principal amount, interest payments also will increase. Conversely, if the index measuring the rate of inflation falls, the principal value of the security will fall and interest payments will decrease. Other issuers adjust the interest rates payable on the security according to the rate of inflation, but the principal amount remains the same.

164 Nuveen Investments

In the event of sustained deflation, the U.S. Treasury has guaranteed that it will repay at maturity at least the original face value of the inflation protected securities that it issues. Other inflation protected debt securities that accrue inflation into their principal value may or may not provide a similar guarantee. For securities that do not provide such a guarantee, the adjusted principal value of the security repaid at maturity may be less than the original principal value.

Up to 20% of the Fund’s assets may be invested in holdings that are not inflation protected. These holdings may include domestic and foreign corporate debt obligations, securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, debt obligations of foreign governments, residential and commercial mortgage-backed securities, asset-backed securities and derivative instruments, as discussed below.

The Fund invests primarily in securities rated investment grade at the time of purchase by a nationally recognized statistical rating organization or in unrated securities of comparable quality. However, up to 10% of the Fund’s net assets may be invested in securities that are rated lower than investment grade at the time of purchase or that are unrated and of comparable quality (securities commonly referred to as “high-yield” securities or “junk bonds”). The Fund will not invest in securities rated lower than B at the time of purchase or in unrated securities of equivalent quality. Quality determinations regarding unrated securities will be made by the Sub-Adviser.

The Fund may invest up to 20% of its net assets in non-dollar denominated securities, and may invest without limitation in U.S. dollar denominated securities of foreign corporations and governments.

The Fund may invest in debt securities of any maturity, but expects to maintain, under normal market conditions, a weighted average effective maturity of between eight and fifteen years and an average effective duration of between four and ten years. The Fund’s weighted average effective maturity and average effective duration are measures of how the Fund may react to interest rate changes.

The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; foreign currency contracts; options on foreign currencies; interest rate caps, collars, and floors; index- and other asset-linked notes; swap agreements, including swap agreements on interest rates, currency rates, security indexes and specific securities, and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts traded on domestic or foreign securities exchanges, boards of trade, or similar entities, and non-standardized derivatives contracts traded in the OTC market. The Fund may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The Fund may also use derivatives to gain exposure to non-dollar denominated securities markets to the extent it does not do so through direct investments. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use any derivative to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Intermediate Government Bond

Intermediate Government Bond’s investment objective is to provide investors with current income to the extent consistent with the preservation of capital. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in U.S. government bonds. U.S. government bonds are securities issued or guaranteed by the U.S. government or its agencies or instrumentalities, including U.S. Treasury obligations, Mortgage-backed securities issued by the Government National Mortgage Association, the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC) and Non-mortgage-related obligations issued or guaranteed by U.S. government agencies or instrumentalities, such as FNMA, FHLMC, Federal Farm Credit Banks, the Federal Home Loan Bank System, and the Tennessee Valley Authority, including obligations that are issued by private issuers and guaranteed under the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program.

U.S. Treasury obligations and some obligations of U.S. government agencies and instrumentalities are supported by the “full faith and credit” of the U.S. government. Other U.S. government securities are backed by the right of the issuer to borrow from the U.S. Treasury. Still others are supported only by the credit of the issuing agency or instrumentality.

The Fund may invest up to 20% of its total assets, collectively, in non-U.S. government debt obligations, including asset-backed securities, residential and commercial mortgage-backed securities, corporate debt obligations, and municipal securities. Such securities will be rated investment grade at the time of purchase or, if unrated, determined to be of comparable quality by the Sub-Adviser.

Under normal market conditions the Fund attempts to maintain a weighted average effective maturity between three and ten years and an effective duration of between two and one-half and seven years. The Fund’s weighted average effective maturity and effective duration are measures of how the Fund may react to interest rate changes.

To generate additional income, the Fund may invest up to 10% of its total assets in dollar roll transactions. In a dollar roll transaction, the Fund sells mortgage-backed securities for delivery in the current month while contracting with the same party to repurchase similar securities at a future date.

The Fund may utilize the following derivatives: futures contracts; options on futures contracts, swap agreements, including swap agreements on interest rates, security indexes and specific securities and credit default swap agreements; and options on the

Nuveen Investments 165

Notes to Financial Statements (continued)

foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts that are traded on domestic securities exchanges, boards of trade, or similar entities and non-standardized derivatives contracts traded in the OTC market. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio, or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use derivatives to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Short Term Bond

Short Term Bond’s investment objective is to provide investors with current income while maintaining a high degree of principal stability. Under normal market conditions, the Fund invests primarily (at least 80% of its net assets, plus the amount of any borrowings for investment purposes) in bonds, such as residential and commercial mortgage-backed securities, asset-backed securities, corporate debt obligations, including obligations issued by special-purpose entities that are backed by corporate debt obligations, U.S. government securities, which are securities issued or guaranteed by the U.S. government or its agencies or instrumentalities and municipal securities.

Up to 20% of the Fund’s total assets may be invested in securities rated lower than investment grade or unrated securities of comparable quality as determined by the Sub-Adviser (securities commonly referred to as “high yield” or “junk bonds”). The Fund will not invest in securities rated lower than CCC at the time of purchase or in unrated securities of equivalent quality.

The Fund may invest up to 35% of its total assets in debt obligations of foreign corporations and foreign governments. However, no more than 10% of the Fund’s total assets may be invested in debt obligations of corporations and governments that are located in emerging market countries. A country is considered to have an “emerging market” if it has a relatively low gross national product per capita compared to the world’s major economies, and the potential for rapid economic growth, provided that no issuer included in the Fund’s current benchmark index will be considered to be located in an emerging market country.

Up to 10% of the Fund’s total assets may have non-U.S. dollar currency exposure from non-U.S. dollar denominated securities and currency derivatives, calculated on an absolute notional basis (i.e., adding together the absolute value of net long and net short exposures to non-U.S. dollar currencies).

The Fund invests primarily in debt securities rated investment grade at the time of purchase by a nationally recognized statistical rating organization or in unrated securities of comparable quality. As noted above, however, up to 20% of the Fund’s total assets may be invested in securities that are rated lower than investment grade at the time of purchase or that are unrated and of comparable quality. Quality determinations regarding unrated securities will be made by the Sub-Adviser. If the rating of a security is reduced or the credit quality of an unrated security declines after purchase, the Fund is not required to sell the security, but may consider doing so. Unrated securities will not exceed 5% of the Fund’s total assets.

Under normal market conditions the Fund attempts to maintain a weighted average effective maturity and an average effective duration for its portfolio securities of one to three years. The Fund’s weighted average effective maturity and effective duration are measures of how the Fund may react to interest rate changes.

The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; interest rate caps, collars, and floors; foreign currency contracts; options on foreign currencies; swap agreements, including swap agreements on interest rates, currency rates, security indexes and specific securities, and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts traded on domestic or foreign securities exchanges, boards of trade, or similar entities, and non-standardized derivatives contracts traded in the OTC market. The Fund may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The Fund may also use derivatives to gain exposure to non-dollar denominated securities markets to the extent it does not do so through direct investments. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use any derivative to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

Strategic Income

Strategic Income’s investment objective is to provide investors with total return. Under normal market conditions, the Fund invests at least 80% of its net assets in debt securities, including U.S. government securities (securities issued or guaranteed by the U.S. government or its agencies or instrumentalities), residential and commercial mortgage-backed securities, asset-backed securities, domestic and foreign corporate debt obligations, including obligations issued by special-purpose entities that are backed by corporate debt obligations and debt obligations of foreign governments.

The Fund may invest up to 30% of its total assets in non-dollar denominated debt obligations of foreign corporations and governments, including debt obligations issued by governmental and corporate issuers that are located in emerging market countries. The Fund may invest without limitation in U.S. dollar denominated securities of foreign issuers.

166 Nuveen Investments

The Fund may invest up to 50% of its total assets in securities rated lower than investment grade or unrated securities of comparable quality as determined by the Sub-Adviser (securities commonly referred to as “high yield” or “junk bonds”). The Fund will not invest in securities rated lower than CCC at the time of purchase or in unrated securities of equivalent quality. Unrated securities will not exceed 25% of the Fund’s total assets.

To generate additional income, the Fund may invest up to 25% of its total assets in dollar roll transactions. In a dollar roll transaction, the Fund sells mortgage-backed securities for delivery in the current month while contracting with the same party to repurchase similar securities at a future date.

Under normal market conditions the Fund attempts to maintain a weighted average effective maturity for its portfolio securities of fifteen years or less and an average effective duration of three to eight years. The Fund’s weighted average effective maturity and average effective duration are measures of how the Fund may react to interest rate changes.

The Fund may utilize the following derivatives: options; futures contracts; options on futures contracts; interest rate caps, collars, and floors; foreign currency contracts; options on foreign currencies; swap agreements, including swap agreements on interest rates, currency rates, security indexes and specific securities, and credit default swap agreements; and options on the foregoing types of swap agreements. The Fund may enter into standardized derivatives contracts traded on domestic or foreign securities exchanges, boards of trade, or similar entities, and non-standardized derivatives contracts traded in the OTC market. The Fund may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Fund’s portfolio or for speculative purposes in an effort to increase the Fund’s yield or to enhance returns. The Fund may also use derivatives to gain exposure to non-dollar denominated securities markets to the extent it does not do so through direct investments. The use of a derivative is speculative if the Fund is primarily seeking to enhance returns, rather than offset the risk of other positions. The Fund may not use any derivative to gain exposure to a security or type of security that it would be prohibited by its investment restrictions from purchasing directly.

The Funds’ most recent prospectus provides further descriptions of each Fund’s investment objective, principal investment strategies and principal risks.

Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”).

Investment Valuation

Common stocks and other equity-type securities are valued at the last sales price on the securities exchange on which such securities are primarily traded and are generally classified as Level 1 for fair value measurement purposes. Securities primarily traded on the NASDAQ National Market (“NASDAQ”) are valued, except as indicated below, at the NASDAQ Official Closing Price and are generally classified as Level 1. However, securities traded on a securities exchange or NASDAQ for which there were no transactions on a given day or securities not listed on a securities exchange or NASDAQ are valued at the quoted bid price and are generally classified as Level 2. Prices of certain American Depositary Receipts (“ADR”) held by the Funds that trade in the United States are valued based on the last traded price, official closing price, or the most recent bid price of the underlying non-U.S.-traded stock, adjusted as appropriate for the underlying-to-ADR conversion ratio and foreign exchange rate, and from time-to-time may also be adjusted further to take into account material events that may take place after the close of the local non-U.S. market but before the close of the New York Stock Exchange (“NYSE”), which may represent a transfer from a Level 1 to a Level 2 security.

Investments in investment companies are valued at their respective net asset value on valuation date. These investment vehicles are generally classified Level 1.

Prices of fixed-income securities, forward foreign currency exchange contracts, senior loans and swap contracts are provided by a pricing service approved by the Funds’ Board of Directors/Trustees. These securities are generally classified as Level 2. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer, or market activity provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs.

If significant market events occur between the time of determination of the closing price of a foreign security on an exchange and the time that the Funds’ net asset values (NAV) are determined, or if under the Funds’ procedures, the closing price of a foreign security is not deemed to be reliable, the security would be valued at fair value as determined in accordance with procedures established in good faith by the Funds’ Board of Directors/Trustees. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs.

Nuveen Investments 167

Notes to Financial Statements (continued)

The value of exchange-traded options are based on the mean of the closing bid and ask prices. Futures contracts are valued using the closing settlement price or, in the absence of such a price, the last traded price. Exchange-traded options and futures contracts are generally classified as Level 1. Options traded in the over-the counter market are valued using an evaluated mean price and are generally classified as Level 2.

Repurchase agreements are valued at contract amount plus accrued interest, which approximates market value. These securities are generally classified as Level 2.

Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Funds’ Board of Directors/Trustees or its designee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s net asset value (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security’s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Funds’ Board of Directors/Trustees or its designee.

Refer to Footnote 2 – Fair Value Measurements for further details on the leveling of securities held by the Funds as of the end of the reporting period.

Investment Transactions

Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/ delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have instructed the custodian to earmark securities in the Funds’ portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments. As of June 30, 2013, Core Bond, Core Plus Bond, Global Total Return Bond, High Income Bond, Intermediate Government Bond, Short-Term Bond and Strategic Income had outstanding when issued/delayed delivery purchase commitments of $19,617,938, $14,864,083, $1,471,238, $6,145,250, $1,217,981, $25,253,906 and $750,000, respectively. Inflation Protected Securities had no such outstanding purchase commitments.

Investment Income

Dividend income is recorded on the ex-dividend date or, for foreign securities, when information is available. Interest income, which reflects the amortization of premiums and includes accretion of discounts for financial reporting purposes, is recorded on an accrual basis. Interest income also reflects pay down gains and losses, if any. Securities lending income is comprised of fees earned from borrowers and income earned on cash collateral investments, net of lending agent fees.

Professional Fees

Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders. Should a Fund receive a refund of workout expenditures paid in a prior reporting period such amounts will be recognized as “Legal fee refund” on the Statement of Operations.

Income Taxes

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required.

For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

168 Nuveen Investments

Dividends and Distributions to Shareholders

The Funds declare dividends from their net investment income daily and pay shareholders monthly. Fund shares begin to accrue dividends on the business day after the day when the monies used to purchase Fund shares are collected by the Funds’ transfer agent.

Net realized capital gains from investment transactions, if any, are declared and distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carry forwards.

Distributions to shareholders are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Share Classes and Sales Charges

Class A Shares are generally sold with an up-front sales charge and incur a .25% annual 12b-1 service fee. Class A Share purchases of the Funds, with the exception of Short Term Bond, of $1 million or more are sold at net asset value without an up-front sales charge. Class A Share purchases of Short Term Bond of $250,000 or more are sold at net asset value without an up-front sales charge. Class A Share purchases may be subject to a contingent deferred sales charge (“CDSC”) if redeemed within eighteen months of purchase. Core Plus Bond, High Income Bond and Strategic Income will issue Class B Shares upon the exchange of Class B Shares from another Nuveen mutual fund or for purposes of dividend reinvestment, but Class B Shares of these Funds are not available for new accounts or for additional investment into existing accounts. Class B Shares incur a .75% annual 12b-1 distribution fee and a .25% annual 12b-1 service fee. Class B Shares are subject to a CDSC of up to 5% depending upon the length of time the shares are held by the investor (CDSC is reduced to 0% at the end of six years). Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares are sold without an up-front sales charge but incur a .75% annual 12b-1 distribution fee and a .25% annual 12b-1 service fee. Class C Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class R3 Shares are sold without an up-front sales charge but incur a .25% annual 12b-1 distribution fee and a .25% annual 12b-1 service fee. Class I Shares are not subject to any sales charge or 12b-1 distribution or service fees.

Foreign Currency Transactions

Each Fund with the exception of Intermediate Government Bond is authorized to engage in foreign currency exchange transactions, including forward foreign currency exchange contracts, futures, options and swap contracts. To the extent that the Funds invest in securities and/or contracts that are denominated in a currency other than U.S. dollars, the Funds will be subject to currency risk, which is the risk that an increase in the U.S. dollar relative to the foreign currency will reduce returns or portfolio value. Generally, when the U.S. dollar rises in value against a foreign currency, the Funds’ investments denominated in that currency will lose value because their currency is worth fewer U.S. dollars; the opposite effect occurs if the U.S. dollar falls in relative value. Investments and other assets and liabilities denominated in foreign currencies are converted into U.S. dollars on a spot (i.e. cash) basis at the spot rate prevailing in the foreign currency exchange market at the time of valuation. Purchases and sales of investments and income denominated in foreign currencies are translated into U.S. dollars on the respective dates of such transactions.

The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, assets and liabilities are translated into U.S. dollars at 4:00 p.m. Eastern Time. Investment transactions, income and expenses are translated on the respective dates of such transactions. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Funds and the amounts actually received.

The realized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with other assets and liabilities on investments, forward foreign currency exchange contracts, futures, options purchased, options written and swap contracts are recognized as a component of “Net realized gain (loss) from investments and foreign currency” on the Statement of Operations, when applicable.

The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with other assets and liabilities on investments are recognized as a component of “Change in net unrealized appreciation (depreciation) of investments and foreign currency” on the Statement of Operations, when applicable. The unrealized gains and losses resulting from changes in foreign exchange rates associated with forward foreign currency exchange contracts, futures, options purchased, options written and swap contracts are recognized as a component of “Change in net unrealized appreciation (deprecation) of forward foreign currency exchange contracts, futures, options purchased, options written and swap contracts,’’ respectively, on the Statement of Operations, when applicable.

Forward Foreign Currency Exchange Contracts

Each Fund is authorized to enter into forward foreign currency exchange contracts (“forward contract”) under two circumstances: (i) when a Fund enters into a contract for the purchase or sale of a security denominated in a foreign currency to “lock in” the U.S. exchange rate of the transaction, with such period being a short-dated contract covering the period between transaction date and settlement date; or (ii) when the Sub-Adviser, believes that the currency of a particular foreign country may experience a substantial movement against the U.S. dollar or against another foreign currency.

A forward contract is an agreement between two parties to purchase or sell a specified quantity of a currency at or before a specified date in the future at a specified price. Forward contracts are typically traded in the over-the-counter (“OTC”) markets and all details of

Nuveen Investments 169

Notes to Financial Statements (continued)

the contract are negotiated between the counterparties to the agreement. Accordingly, the forward contracts are valued by reference to the contracts traded in the OTC markets. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying currency, establishing an opposite position in the contract and recognizing the profit or loss on both positions simultaneously on the delivery date or, in some instances, paying a cash settlement before the designated date of delivery.

Forward contracts are valued daily at the forward rate and are recognized as a component of “Unrealized appreciation and/or depreciation on forward foreign currency exchange contracts” on the Statement of Assets and Liabilities. The change in value of the forward contracts during the reporting period is recognized as a component of “Change in net unrealized appreciation (depreciation) of forward foreign currency exchange contracts” on the Statement of Operations. When the contract is closed or offset with the same counterparty, a Fund recognizes the difference between the value of the contract at the time it was entered and the value at the time it was closed or offset as a component of “Net realized gain (loss) from forward foreign currency exchange contracts” on the Statement of Operations.

Forward contracts will generally not be entered into for terms greater than three months, but may have maturities of up to six months or more. The use of forward contracts does not eliminate fluctuations in the underlying prices of a Fund’s investment securities; however, it does establish a rate of exchange that can be achieved in the future. The use of forward contracts involves the risk that anticipated currency movements will not be accurately predicted. A forward contract would limit the risk of loss due to a decline in the value of a particular currency; however, it also would limit any potential gain that might result should the value of the currency increase instead of decrease. These contracts may involve market risk in excess of the unrealized appreciation or depreciation reflected on the Statement of Assets and Liabilities. Forward contracts are subject to counterparty risk if the counterparty fails to perform as specified in the contract due to financial impairment or other reason.

During the fiscal year ended June 30, 2013, Core Plus Bond, High Income Bond and Inflation Protected Securities invested in forward foreign currency exchange contracts to manage foreign currency exposure. For example, to reduce unwanted currency exposure from a Fund’s portfolio, a Fund would acquire a short foreign currency forward. During the fiscal year ended June 30, 2013, Global Total Return Bond and Strategic Income invested in forward foreign currency exchange contracts to gain exposure to selected foreign currencies, as well as in some cases to hedge the currency risk present in a foreign bond.

The average notional amount of forward foreign currency exchange contracts outstanding during the fiscal year ended June 30, 2013, was as follows:

			Core Plus Bond		Global Total Return Bond
Average notional amount of forward foreign currency exchange contracts outstanding*				$2,764,636		$21,386,835
	High Income Bond		Inflation Protected Securities		Strategic Income
Average notional amount of forward foreign currency exchange contracts outstanding*		$11,728,706		$1,686,639		$172,609,246

* The average notional amount is calculated based on the outstanding notional amount at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.

Refer to Footnote 3 – Derivative Instruments and Hedging Activities for further details on forward foreign currency exchange contract activity.

Futures Contracts

Upon execution of a futures contract, a Fund is obligated to deposit cash or eligible securities, also known as “initial margin,” into an account at its clearing broker equal to a specified percentage of the contract amount. Cash held by the broker to cover initial margin requirements on open futures contracts, if any, is recognized as “Deposits with brokers for open futures contracts” on the Statement of Assets and Liabilities. Investments in futures contracts obligate a Fund and the clearing broker to settle monies on a daily basis representing changes in the prior days “mark-to-market” of the open contracts. If a Fund has unrealized appreciation the clearing broker would credit the investors account with an amount equal to appreciation and conversely if a Fund has unrealized depreciation the clearing broker would debit a Fund’s account with an amount equal to depreciation. These daily cash settlements are also known as “variation margin.” Variation margin is recognized as a receivable and/or payable for “Variation margin on futures contracts” on the Statement of Assets and Liabilities.

During the period the futures contract is open, changes in the value of the contract are recognized as an unrealized gain or loss by “marking-to-market” on a daily basis to reflect the changes in market value of the contract, which is recognized as a component of “Change in net unrealized appreciation (depreciation) of futures contracts” on the Statement of Operations. When the contract is closed or expired, a Fund records a realized gain or loss equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into, which is recognized as a component of “Net realized gain (loss) from futures contracts” on the Statement of Operations.

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Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with a change in the value of the underlying securities or indices.

During the fiscal year ended June 30, 2013, each of the Funds invested in interest rate futures contracts. Global Total Return Bond sold U.S. Treasury futures to hedge against potential increases in U.S. interest rates and purchased selected foreign bond futures to gain exposure to those markets. The other Funds used long and short U.S. Treasury note and bond futures to manage portfolio duration and yield curve exposure. For example, to decrease the duration of a Fund’s portfolio, a short Treasury bond or Treasury note futures position would be acquired.

The average notional amount of futures contracts outstanding during the fiscal year ended June 30, 2013, was as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Average notional amount of futures contracts outstanding*	$	116,900,844	$	194,298,576	$	7,694,521	$	15,452,449

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Average notional amount of futures contracts outstanding*	$	35,637,769	$	18,636,695	$	98,569,408	$	124,609,357

* The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding at the beginning of the fiscal year and at the end of each quarter within the current fiscal year.

Refer to Footnote 3 – Derivative Instruments and Hedging Activities for further details on futures contract activity.

Options Transactions

The purchase of options and/or swaptions involves the risk of loss of all or a part of the cash paid for the options (the premium). The market risk associated with purchasing options and/or swaptions is limited to the premium paid. The counterparty credit risk of purchasing options and/or swaptions, however, needs also to take into account the current value of the option, as this is the performance expected from the counterparty. When a Fund purchases an option and/or swaption, an amount equal to the premium paid (the premium plus commission) is recognized as a component of “Options and/or Swaptions purchased, at value” on the Statement of Assets and Liabilities. When a Fund writes an option and/or swaption, an amount equal to the net premium received (the premium less commission) is recognized as a component of “Options and/or Swaptions written, at value” on the Statement of Assets and Liabilities and is subsequently adjusted to reflect the current value of the written option and/or swaption until the option and/or swaption is exercised or expires or the Fund enters into a closing purchase transaction. The changes in the value of options and/or swaptions purchased during the fiscal period are recognized as a component of “Change in net unrealized appreciation (depreciation) of options and/or swaptions purchased” on the Statement of Operations. The changes in the value of options and/or swaptions written during the fiscal period are recognized as a component of “Change in net unrealized appreciation (depreciation) of options and/or swaptions written” on the Statement of Operations. When an option and/or swaption is exercised or expires or the Fund enters into a closing purchase transaction, the difference between the net premium received and any amount paid at expiration or on executing a closing purchase transaction, including commission, is recognized as a component of “Net realized gain (loss) from options and/or swaptions purchased and/or written” on the Statement of Operations. The Fund, as a writer of an option and/or swaption has no control over whether the underlying instrument may be sold (called) or purchased (put) and as a result bears the risk of an unfavorable change in the market value of the instrument underlying the written option and/or swaption. There is also the risk the Fund may not be able to enter into a closing transaction because of an illiquid market.

During the fiscal year ended June 30, 2013, Core Plus Bond, Global Total Return Bond and Strategic Income purchased options on U.S. Treasury notes/bonds futures as part of an overall portfolio interest rate strategy. For example, call options may be purchased to hedge the portfolio against adverse interest rate movements while limiting downside exposure to the portfolio. During the fiscal year ended June 30, 2013, Global Total Return Bond wrote put options and purchased call options on select currencies during the period in an attempt to benefit from changes in the spot values on these currencies. During the fiscal year ended June 30, 2013, Strategic Income also wrote call and put options to express views on volatility during the period. For example, writing out-of-the-money calls and puts when implied volatility was high. Strategic Income also used options on foreign currency as part of an overall portfolio currency strategy. For example, call options may be purchased to hedge against the downside exposure to the portfolio. The Funds had no other transactions in options contracts during the fiscal year ended June 30, 2013.

The average notional amount of outstanding options purchased and written during the fiscal year ended June 30, 2013, were as follows:

	Core Plus Bond		Global Total Return Bond		Strategic Income
Average notional amount of outstanding options purchased*	$	—	$	41,081,600	$	8,068,872
Average notional amount of outstanding options contracts written*		—		58,575		—

* The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.

Nuveen Investments 171

Notes to Financial Statements (continued)

Refer to Footnote 3 – Derivative Instruments and Hedging Activities and Footnote 5 – Investment Transactions for further details on options contract activity.

Interest Rate Swaps

In connection with these contracts, securities in the Funds’ portfolios of investments may be identified as collateral in accordance with the terms of the respective swap contract. Interest rate swap contracts involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (i.e., an exchange of floating rate payments for fixed rate payments with respect to a specified notional amount of principal). Interest rate swap contracts are valued daily. The Funds accrue daily the periodic payments expected to be paid and/or received on each interest rate swap contract and recognize the daily change in the market value of the Funds’ contractual rights and obligations under the contracts. The net amount recorded on these transactions for each counterparty is recognized on the Statement of Assets and Liabilities as a component of “Unrealized appreciation or depreciation on interest rate swaps (, net)” with the change during the fiscal period recognized on the Statement of Operations as a component of “Change in net unrealized appreciation (depreciation) of swaps” on the Statement of Operations. Income received or paid by the Funds is recognized as a component of “Net realized gain (loss) from swaps” on the Statement of Operations, in addition to the net realized gains or losses recognized upon the termination of an interest rate swap contract and are equal to the difference between the Funds’ basis in the interest rate swap and the proceeds from (or cost of) the closing transaction. The amount of the payment obligation is based on the notional amount of the interest rate swap contract. Payments received or made at the beginning of the measurement period are recognized as a component of “Interest rate swap premiums paid and/or received” on the Statement of Assets and Liabilities, when applicable. For tax purposes, periodic payments are treated as ordinary income or expense.

During the fiscal year ended June 30, 2013, Core Bond, Core Plus Bond, Inflation Protected Securities, Short Term Bond and Strategic Income invested in interest rate swap contracts as part of an overall portfolio construction strategy to manage duration and overall portfolio yield curve exposure. During the fiscal year ended June 30, 2013, Global Total Return Bond invested in interest rate swaps as part of an overall portfolio interest rate strategy. For example, swaps in which the Fund pays a fixed rate of interest in exchange for a floating rate may be used in anticipation of rising interest rates. The average notional amount of interest rate swap contracts outstanding during the fiscal year ended June 30, 2013, was as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond
Average notional amount of interest rate swap contracts outstanding*	$	12,000,000	$	27,400,000	$	480,000

	Inflation Protected Securities		Short Term Bond		Strategic Income
Average notional amount of interest rate swap contracts outstanding*	$	4,400,000	$	11,200,000	$	52,720,000

* The average notional amount is calculated based on the outstanding notional amount at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.

Credit Default Swaps

A Fund may enter into a credit default swap contract to seek to maintain a total return on a particular investment or portion of its portfolio, or to take an active long or short position with respect to the likelihood of a particular issuer’s default. Credit default swap contracts involve one party making a stream of payments to another party in exchange for the right to receive a specified return if/ when there is a credit event by a third party. Generally, a credit event means bankruptcy, failure to pay, or restructuring. The specific credit events applicable for each credit default swap are stated in the terms of the particular swap agreement. As a purchaser of a credit default swap contract, the Fund pays to the counterparty a periodic interest fee based on the notional amount of the credit default swap.

Upon occurrence of a specific credit event with respect to the underlying referenced entity, the Fund is obligated to deliver that security, or an equivalent amount of cash, to the counterparty in exchange for receipt of the notional amount from the counterparty. The difference between the value of the security delivered and the notional amount received is recorded as a realized gain. Payments received or made at the beginning of the measurement period are recognized as a component of “Credit default swap premiums paid and/or received” on the Statement of Assets and Liabilities, when applicable. As a seller of a credit default swap contract, the Fund generally receives from the counterparty a periodic interest fee based on the notional amount of the credit default swap. Upon occurrence of a specific credit event with respect to the underlying referenced entity, the Fund will either receive that security, or an equivalent amount of cash, from the counterparty in exchange for payment of the notional amount to the counterparty, or pay a net settlement amount of the credit default swap contract less the recovery value of the referenced obligation or underlying securities comprising the referenced index. The difference between the value of the security received and the notional amount paid is recorded as a realized loss.

Changes in the value of a credit default swap during the fiscal period are recognized as a component of “Change in net unrealized appreciation (depreciation) of swaps,” and realized gains and losses are recognized as a component of “Net realized gain (loss) from swaps” on the Statement of Operations. Investments in exchange traded swaps obligate a Fund and the clearing broker to settle monies on a daily basis representing changes in the prior days “mark-to-market” of the swap. If a Fund has unrealized appreciation

172 Nuveen Investments

the clearing broker would credit the investors account with an amount equal to appreciation and conversely if a Fund has unrealized depreciation the clearing broker would debit a Fund’s account with an amount equal to depreciation. These daily cash settlements are also known as “variation margin.” Variation margin is recognized as a receivable and/or payable for “Variation margin on swaps” on the Statement of Assets and Liabilities. The maximum potential amount of future payments the Fund could incur as a seller of protection in a credit default swap contract is limited to the notional amount of the contract. The maximum potential amount would be offset by the recovery value, if any, of the respective referenced entity.

During the fiscal year ended June 30, 2013, Core Plus Bond, Short Term Bond and Strategic Income invested in credit default swap contracts to add diversified exposure to a broad segment of the credit markets, or to express a view on credit as part of an overall portfolio sector management strategy. For example, to increase the Fund’s credit exposure to the High Yield Bond segment of the market, a long CDX High Yield Index swap would be acquired. During the fiscal year ended June 30, 2013, Global Total Return Bond invested in credit default swaps as a way to take on credit risk and earn a commensurate credit spread.

The average notional amount of credit default swap contracts outstanding during the fiscal year ended June 30, 2013, was as follows:

	Core Plus Bond		Global Total Return Bond		Short Term Bond		Strategic Income
Average notional amount of credit default swap contracts outstanding*	$	660,000	$	738,545	$	2,000,000	$	15,682,400

* The average notional amount is calculated based on the outstanding notional amount at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.

Refer to Footnote 3 – Derivative Instruments and Hedging Activities for further details on swap contract activity.

Market and Counterparty Credit Risk

In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund’s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities. Credit risk is generally higher when a non-exchange traded financial instrument is involved because the counterparty for exchange-traded financial instruments is the exchange’s clearinghouse.

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.

Inflation-Indexed Bonds

Inflation-indexed bonds are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond however, interest will be paid based on a principal value which is adjusted for inflation. Any increase in the principal amount of an inflation-indexed bond is recognized as a component of “Interest income” on the Statement of Operations, even though investors do not receive their principal until maturity.

Repurchase Agreements

In connection with transactions in repurchase agreements, it is the Fund’s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

Zero Coupon Securities

Each Fund is authorized to invest in zero coupon securities. A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.

Multiclass Operations and Allocations

Income and expenses of the Funds that are not directly attributable to a specific class of shares are prorated among the classes based on the relative settled shares of each class. Expenses directly attributable to a class of shares, which presently only include 12b-1 distribution fees and shareholder service fees, are recorded to the specific class.

Nuveen Investments 173

Notes to Financial Statements (continued)

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

Securities Lending

In order to generate additional income, each Fund, except Global Total Return Bond, may lend securities representing up to one-third of the value of its total assets (which includes collateral for securities on loan) to broker-dealers, banks or other institutions. Each Fund’s policy is to receive cash collateral equal to at least 102% of the value of securities loaned, which is recognized as “Collateral from securities lending program” on the Statement of Assets and Liabilities. The adequacy of the collateral is monitored on a daily basis. If the value of the securities on loan increases, such that the level of collateralization falls below 100%, additional collateral is received from the borrower, which is recognized as “Due from broker” on the Statement of Assets and Liabilities, when applicable. As with other extensions of credit, there may be risks of delay in recovery of the securities or even loss of rights in the collateral should the borrower of the security fail financially.

The Funds’ custodian serves as the securities lending agent for the Funds. Each Fund pays the custodian a fee based on the Fund’s proportional share of the custodian’s expense of operating its securities lending program. Collateral for securities on loan is invested in a money market fund, which is recognized as “Investments purchased with collateral from securities lending” on the Statement of Assets and Liabilities.

Income from securities lending, net of fees paid, is recognized on the Statement of Operations as “Securities lending income, net.” Securities lending fees paid by each Fund during the fiscal year ended June 30, 2013, were as follows:

	Core Bond		Core Plus Bond		High Income Bond		Inflation Protected Securities
Securities lending fees paid	$	12,198	$	19,650	$	127,004		$4,876

	Intermediate Government Bond		Short Term Bond		Strategic Income
Securities lending fees paid	$	84	$	32,224	$	39,775

Indemnifications

Under each Trust’s organizational documents, its officers and directors/trustees are indemnified against certain liabilities arising out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide general indemnifications to other parties. Each Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results may differ from those estimates.

2. Fair Value Measurements

Fair value is defined as the price that the Funds would receive 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).

174 Nuveen Investments

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 each Fund’s fair value measurements as of the end of the reporting period:

Core Bond	Level 1			Level 2			Level 3		Total
Long-Term Investments*:
Corporate Bonds	$	—		$	186,193,434		$	—	$	186,193,434
$1,000 Par (or similar) Institutional Structures		—			6,421,125			—		6,421,125
Municipal Bonds		—			6,722,159			—		6,722,159
U.S. Government and Agency Obligations		—			45,479,147			—		45,479,147
Asset-Backed and Mortgage-Backed Securities		—			242,755,835			—		242,755,835
Sovereign Debt		—			1,556,100			—		1,556,100
Investments Purchased with Collateral from Securities Lending		57,635,312			—			—		57,635,312
Short-Term Investments:
Money Market Funds		28,052,047			—			—		28,052,047
Derivatives:
Futures Contracts**		(310,661	)		—			—		(310,661	)
Total	$	85,376,698		$	489,127,800		$	—	$	574,504,498
Core Plus Bond	Level 1			Level 2			Level 3		Total
Long-Term Investments*:
$25 Par (or similar) Retail Structures	$	16,054,545		$	—		$	—	$	16,054,545
Corporate Bonds		—			345,095,811			—		345,095,811
$1,000 Par (or similar) Institutional Structures		—			26,916,672			—		26,916,672
Municipal Bonds		—			6,361,966			—		6,361,966
U.S. Government and Agency Obligations		—			36,575,798			—		36,575,798
Asset-Backed and Mortgage-Backed Securities		—			241,960,020			—		241,960,020
Sovereign Debt		—			902,500			—		902,500
Investments Purchased with Collateral from Securities Lending		74,451,214			—			—		74,451,214
Short-Term Investments:
Money Market Funds		12,514,364			—			—		12,514,364
Derivatives:
Forward Foreign Currency Exchange Contracts*		—			(167,282	)		—		(167,282	)
Credit Default Swaps**		—			(29,525	)		—		(29,525	)
Interest Rate Swaps**		—			2,138,784			—		2,138,784
Futures Contracts**		2,235,409			—			—		2,235,409
Total	$	105,255,532		$	659,754,744		$	—	$	765,010,276
Global Total Return Bond	Level 1			Level 2			Level 3		Total
Long-Term Investments*:
$25 Par (or similar) Retail Structures	$	297,316		$	—		$	—	$	297,316
Corporate Bonds		—			7,180,141			—		7,180,141
Convertible Bonds		—			20,536			—		20,536
$1,000 Par (or similar) Institutional Structures		83,288			477,410			—		560,698
Asset-Backed and Mortgage-Backed Securities		—			1,871,009			—		1,871,009
Sovereign Debt		—			6,999,219			—		6,999,219
Short-Term Investments:
Repurchase Agreements		—			2,660,291			—		2,660,291
Derivatives:
Forward Foreign Currency Exchange Contracts**		—			(80,418	)		—		(80,418	)
Credit Default Swaps**		—			(2,096	)		—		(2,096	)
Interest Rate Swaps**		—			51,543			—		51,543
Call Options Purchased		—			—	***		—		—	***
Futures Contracts**		54,062			—			—		54,062
Total	$	434,666		$	19,177,635		$	—	$	19,612,301

* Refer to the Fund’s Portfolio of Investments for industry classifications and a breakdown of $1,000 Par (or similar) Institutional Structures classified as Level 2.

** Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

*** Market value is zero.

Nuveen Investments 175

Notes to Financial Statements (continued)

High Income Bond	Level 1		Level 2			Level 3		Total
Long-Term Investments*:
Common Stocks	$	9,125,162	$	—		$	64,138	$	9,189,300
Convertible Preferred Securities		1,666,200		—			—		1,666,200
Variable Rate Senior Loan Interests		—		1,727,600			—		1,727,600
$25 Par (or similar) Retail Structures		43,592,419		2,553,864			—		46,146,283
Corporate Bonds		—		569,308,942			1		569,308,943
Convertible Bonds		—		5,035,694			—		5,035,694
$1,000 Par (or similar) Institutional Structures		—		42,499,506			—		42,499,506
U.S. Government and Agency Obligations		—		1,006,797			—		1,006,797
Asset-Backed and Mortgage-Backed Securities		—		2,835			—		2,835
Investment Companies		10,552,370		—			—		10,552,370
Sovereign Debt		—		3,736,075			—		3,736,075
Warrants		—		141			—		141
Investments Purchased with Collateral from Securities Lending		124,410,338		—			—		124,410,338
Short-Term Investments:
Money Market Funds		13,241,965		—			—		13,241,965
Derivatives:
Forward Foreign Currency Exchange Contracts**		—		(157,736	)		—		(157,736	)
Futures Contracts**		797,462		—			—		797,462
Total	$	203,385,916	$	625,713,718		$	64,139	$	829,163,773
Inflation Protected Securities	Level 1		Level 2			Level 3		Total
Long-Term Investments*:
$25 Par (or similar) Retail Structures	$	416,850	$	—		$	—	$	416,850
Corporate Bonds		—		21,081,191			—		21,081,191
$1,000 Par (or similar) Institutional Structures		222,100		310,813			—		532,913
Municipal Bonds		—		2,889,920			—		2,889,920
U.S. Government and Agency Obligations		—		318,371,310			—		318,371,310
Asset-Backed and Mortgage-Backed Securities		—		28,649,469			—		28,649,469
Investment Companies		1,073,020		—			—		1,073,020
Sovereign Debt		—		2,286,728			—		2,286,728
Investments Purchased with Collateral from Securities Lending		15,202,864		—			—		15,202,864
Derivatives:
Futures Contracts**		146,935		—			—		146,935
Total	$	17,061,769	$	373,589,431		$	—	$	390,651,200
Intermediate Government Bond	Level 1		Level 2			Level 3		Total
Long-Term Investments*:
Corporate Bonds	$	—	$	391,558		$	—	$	391,558
Municipal Bonds		—		2,109,497			—		2,109,497
U.S. Government and Agency Obligations		—		24,206,650			—		24,206,650
Asset-Backed and Mortgage-Backed Securities		—		37,520,364			—		37,520,364
Investments Purchased with Collateral from Securities Lending		500,625		—			—		500,625
Short-Term Investments:
Money Market Funds		1,758,968		—			—		1,758,968
Derivatives:
Futures Contracts**		30,187		—			—		30,187
Total	$	2,289,780	$	64,228,069		$	—	$	66,517,849

176 Nuveen Investments

Short Term Bond	Level 1		Level 2			Level 3		Total
Long-Term Investments*:
Corporate Bonds	$	—	$	427,627,402		$	—	$	427,627,402
Convertible Bonds		—		2,283,750			—		2,283,750
Municipal Bonds		—		31,802,918			—		31,802,918
U.S. Government and Agency Obligations		—		31,452,575			—		31,452,575
Asset-Backed and Mortgage-Backed Securities		—		432,767,167			—		432,767,167
Sovereign Debt		—		4,229,614			—		4,229,614
Structured Notes		—		1,748,880			—		1,748,880
Investments Purchased with Collateral from Securities Lending		43,179,225		—			—		43,179,225
Short-Term Investments:
Money Market Funds		32,859,019		—			—		32,859,019
Derivatives:
Credit Default Swaps**		—		155,460			—		155,460
Futures Contracts**		2,216,924		—			—		2,216,924
Total	$	78,255,168	$	932,067,766		$	—	$	1,010,322,934
Strategic Income	Level 1		Level 2			Level 3		Total
Long-Term Investments*:
Common Stocks	$	—	$	—		$	5,993	$	5,993
$25 Par (or similar) Retail Structures		19,024,857		—			—		19,024,857
Corporate Bonds		—		424,941,913			—		424,941,913
Convertible Bonds		—		659,702			—		659,702
$1,000 Par (or similar) Institutional Structures		—		39,022,969			—		39,022,969
Municipal Bonds		—		4,237,632			—		4,237,632
Asset-Backed and Mortgage-Backed Securities		—		67,750,361			—		67,750,361
Investment Companies		1,334,530		—			—		1,334,530
Sovereign Debt		—		53,080,071			—		53,080,071
Structured Notes		—		649,584			—		649,584
Investments Purchased with Collateral from Securities Lending		67,716,896		—			—		67,716,896
Short-Term Investments:
Money Market Funds		681,517		—			—		681,517
Derivatives:
Forward Foreign Currency Exchange Contracts**		—		(1,205,026	)		—		(1,205,026	)
Credit Default Swaps**		—		(43,964	)		—		(43,964	)
Interest Rate Swaps**		—		3,191,088			—		3,191,088
Call Options Purchased		—		—	***		—		—	***
Futures Contracts**		1,047,508		—			—		1,047,508
Total	$	89,805,308	$	592,284,330		$	5,993	$	682,095,631

* Refer to the Fund’s Portfolio of Investments for industry classifications, a breakdown of securities classified as Level 3 and a breakdown of $1,000 Par (or similar) Institutional Structures and $25 Par (or similar) Retail Structures classified as Level 2.

** Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

*** Market value is zero.

The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:

(i.) If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.

(ii.) If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.

Nuveen Investments 177

Notes to Financial Statements (continued)

The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument’s current value.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.

3. Derivative Instruments and Hedging Activities

Each Fund is authorized to invest in certain derivative instruments, such as futures, options and swap contracts. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds’ investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes. For additional information on the derivative instruments in which each Fund was invested during and at the end of the reporting period, refer to the Portfolios of Investments, Financial Statements and Footnote 1 – General Information and Significant Accounting Policies.

The following tables present the fair value of all derivative instruments held by the Funds as of June 30, 2013, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.

		Location on the Statement of Assets and Liabilities
Underlying Risk Exposure	Derivative Instrument	Asset Derivatives			(Liability) Derivatives
		Location	Value		Location	Value
Core Bond
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*	$	874,019	Payable for variation margin on futures contracts*	$	(1,184,680	)
Core Plus Bond
Foreign currency exchange rate	Forward foreign currency exchange contracts	Unrealized appreciation on forward foreign currency exchange contracts	$	20,894	Unrealized depreciation on forward foreign currency exchange contracts	$	(188,176	)
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*		2,333,224	Payable for variation margin on futures contracts*		(97,815	)
Credit	Swaps	—		—	Variation margin on swap contracts**		(29,525	)
Interest rate	Swaps	Unrealized appreciation on interest rate swaps		2,138,784	—		—
Total			$	4,492,902		$	(315,516	)
Global Total Return Bond
Foreign currency exchange rate	Forward foreign currency exchange contracts	Unrealized appreciation on forward foreign currency exchange contracts	$	375,049	Unrealized depreciation on forward foreign currency exchange contracts	$	(455,467	)
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*		72,675	Payable for variation margin on futures contracts*		(18,613	)
Foreign currency exchange rate	Options	Call options purchased, at value		—	—		—
Credit	Swaps	Deposits with brokers for exchange traded swaps and Receivable for variation margin on swap contracts**		66	Variation margin on swap contracts**		(2,162	)
Interest rate	Swaps	Unrealized appreciation on interest rate swaps		51,543	—		—
Total			$	499,333		$	(476,242	)

178 Nuveen Investments

		Location on the Statement of Assets and Liabilities
Underlying Risk Exposure	Derivative Instrument	Asset Derivatives			(Liability) Derivatives
		Location	Value		Location	Value
High Income Bond
Foreign currency exchange rate	Forward foreign currency exchange Contracts	Unrealized appreciation on forward foreign currency exchange contracts	$	18,312	Unrealized depreciation on forward foreign currency exchange contracts	$	(176,048	)
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*		797,462	—		—
Total			$	815,774		$	(176,048	)
Inflation Protected Securities
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*	$	349,602	Payable for variation margin on futures contracts*	$	(202,667	)
Intermediate Government Bond
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*	$	116,967	Payable for variation margin on futures contracts*	$	(86,780	)
Short Term Bond
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*	$	2,216,924	—	$	—
Credit	Swaps	Deposits with brokers for exchange traded swaps and Receivable for variation margin on swap contracts**		155,460	—		—
Total			$	2,372,384		$	—
Strategic Income
Foreign currency exchange rate	Forward foreign currency exchange contracts	Unrealized appreciation on forward foreign currency exchange contracts	$	3,769,842	Unrealized depreciation on forward foreign currency exchange contracts	$	(4,974,868	)
Interest rate	Futures contracts	Deposits with brokers for open futures contracts and Receivable for variation margin on futures contracts*		1,047,508	—		—
Foreign currency exchange rate	Options	Call options purchased, at value		—	—		—
Credit	Swaps	—		—	Variation margin on swap contracts**		(43,964	)
Interest rate	Swaps	Unrealized appreciation on interest rate swaps		3,191,088	—		—
Total			$	8,008,438		$	(5,018,832	)

* Value represents unrealized appreciation (depreciation) of futures contracts as reported in the Fund’s Portfolio of Investments, and not the deposits with brokers, if any, or the receivable or payable for variation margin presented on the Statement of Assets and Liabilities.

** Value represents unrealized appreciation (depreciation) of credit default swap contracts as reported in the Fund’s Portfolio of Investments, and not the deposits with brokers, if any, or the receivable or payable for variation margin presented on the Statement of Assets and Liabilities. Some swap contracts require a counterparty to pay or receive a premium, which is disclosed on the Statement of Assets and Liabilities but is not reflected in the value presented above.

Nuveen Investments 179

Notes to Financial Statements (continued)

The following tables present the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for the fiscal year ended June 30, 2013, on derivative instruments, and the primary underlying risk exposure associated with each.

Net Realized Gain (Loss) from Forward Foreign Currency Exchange Contracts	Global Total Return Bond		Inflation Protected Securities			Strategic Income
Risk Exposure
Foreign currency exchange rate	$	193,248	$	(191,827	)	$	4,687,862

Net Realized Gain (Loss) from Futures Contracts	Core Bond			Core Plus Bond			Global Total Return Bond		High Income Bond		Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Risk Exposure
Interest rate	$	(964,275	)	$	(542,476	)	$	9,324	$	24,640	$	238,486	$	115,320	$	169,909	$	(962,426	)

Net Realized Gain (Loss) from Options Purchased	Core Plus Bond			Global Total Return Bond			Strategic Income
Risk Exposure
Foreign currency exchange rate	$	—		$	(3,095	)	$	—
Interest rate		(201,554	)		1,276			(4,865	)
Total	$	(201,554	)	$	(1,819	)	$	(4,865	)

Net Realized Gain (Loss) from Options Written	Global Total Return Bond			Strategic Income
Risk Exposure
Foreign Currency Exchange Rate	$	2,963		$	—
Interest Rate		(3,414	)		(125,856	)
Total	$	(451	)	$	(125,856	)

Net Realized Gain (Loss) from Swaps	Core Bond			Core Plus Bond			Global Total Return Bond		Inflation Protected Securities			Short Term Bond			Strategic Income
Risk Exposure
Interest rate	$	(1,680,438	)	$	(2,751,649	)	$	861	$	(391,994	)	$	(1,225,598	)	$	(1,692,675	)
Credit		—			(11,514	)		116,329		—			(448	)		3,435,606
Total	$	(1,680,438	)	$	(2,763,163	)	$	117,190	$	(391,994	)	$	(1,226,046	)	$	1,742,931

Change in Net Unrealized Appreciation (Depreciation) of Forward Foreign Currency Exchange Contracts	Core Plus Bond			Global Total Return Bond			High Income Bond			Inflation Protected Securities		Strategic Income
Risk Exposure
Foreign currency exchange rate	$	(167,282	)	$	(131,026	)	$	(157,736	)	$	110,837	$	(2,175,164	)

Change in Net Unrealized Appreciation (Depreciation) of Futures Contracts	Core Bond			Core Plus Bond		Global Total Return Bond		High Income Bond		Inflation Protected securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Risk Exposure
Interest Rate	$	(273,507	)	$	2,796,555	$	47,954	$	785,330	$	153,262	$	18,406	$	2,383,929	$	1,358,805

180 Nuveen Investments

Change in Net Unrealized Appreciation (Depreciation) of Swaps	Core Bond		Core Plus Bond			Global Total Return Bond		Inflation Protected Securities		Short Term Bond		Strategic Income
Risk Exposure
Interest Rate	$	1,530,864	$	4,562,289		$	51,543	$	348,311	$	1,098,152	$	5,090,939
Credit		—		(29,525	)		2,123		—		155,460		(418,528	)
Total	$	1,530,864	$	4,532,764		$	53,666	$	348,311	$	1,253,612	$	4,672,411

4. Fund Shares

Transactions in Fund shares were as follows:

	Core Bond
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares sold:
Class A		217,330		$	2,332,724			247,851		$	2,354,945
Class C		40,645			433,048			124,652			1,314,107
Class I		5,853,897			62,031,241			15,553,631			163,251,078
Shares issued to shareholders due to reinvestment of distributions:
Class A		86,939			922,003			52,085			550,277
Class C		3,703			39,074			713			7,546
Class I		1,036,191			10,952,468			521,026			5,491,331
		7,238,705			76,710,558			16,499,958			172,969,284
Shares redeemed:
Class A		(487,192	)		(5,144,756	)		(455,381	)		(4,540,092	)
Class C		(133,866	)		(1,394,725	)		(88,127	)		(933,248	)
Class I		(17,644,191	)		(187,498,348	)		(20,647,842	)		(217,189,544	)
		(18,265,249	)		(194,037,829	)		(21,191,350	)		(222,662,884	)
Net increase (decrease)		(11,026,544	)	$	(117,327,271	)		(4,691,392	)	$	(49,693,600	)
	Core Plus Bond
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares sold:
Class A		624,344		$	7,416,972			500,717		$	5,733,104
Class B – exchanges		4,775			56,542			12,619			144,475
Class C		104,871			1,239,686			140,378			1,609,370
Class R3		9,044			108,414			16,239			188,517
Class I		6,574,725			78,266,976			9,137,840			104,565,033
Shares issued to shareholders due to reinvestment of distributions:
Class A		252,019			2,993,476			220,659			2,545,073
Class B		2,161			25,446			3,444			39,316
Class C		9,837			116,348			8,389			96,377
Class R3		1,117			13,330			1,029			11,916
Class I		702,473			8,336,588			820,154			9,450,344
		8,285,366			98,573,778			10,861,468			124,383,525
Shares redeemed:
Class A		(1,066,269	)		(12,665,834	)		(1,083,218	)		(12,424,968	)
Class B		(41,665	)		(491,754	)		(86,925	)		(993,749	)
Class C		(143,239	)		(1,687,503	)		(77,268	)		(886,862	)
Class R3		(6,465	)		(77,277	)		(23,546	)		(273,326	)
Class I		(17,584,648	)		(208,665,758	)		(29,122,019	)		(335,260,689	)
		(18,842,286	)		(223,588,126	)		(30,392,976	)		(349,839,594	)
Net increase (decrease)		(10,556,920	)	$	(125,014,348	)		(19,531,508	)	$	(225,456,069	)

Nuveen Investments 181

Notes to Financial Statements (continued)

	Global Total Return Bond
	Year Ended 6/30/13						For the period 12/02/11 (commencement of operations) through 6/30/12
	Shares			Amount			Shares			Amount
Shares sold:
Class A		71,096		$	1,561,936			14,546		$	306,302
Class C		5,331			116,818			2,500			50,000
Class R3		148			3,261			2,500			50,000
Class I		119,175			2,571,327			695,643			13,915,778
Shares issued to shareholders due to reinvestment of distributions:
Class A		2,257			49,801			93			1,966
Class C		71			1,558			—			—
Class R3		2			32			—			—
Class I		1,966			43,308			1			12
		200,046			4,348,041			715,283			14,324,058
Shares redeemed:
Class A		(37,459	)		(815,809	)		(24	)		(498	)
Class C		(238	)		(5,218	)		—			—
Class R3		(220	)		(4,841	)		—			—
Class I		(21,318	)		(469,349	)		—			—
		(59,235	)		(1,295,217	)		(24	)		(498	)
Net increase (decrease)		140,811		$	3,052,824			715,259		$	14,323,560
	High Income Bond
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares issued from the reorganization:
Class A		—		$	—			4,133,109		$	35,167,855
Class B		—			—			163,999			1,387,561
Class C		—			—			4,108,173			34,868,833
Class R3		—			—			19,055			165,597
Class I		—			—			3,904,626			33,281,132
Shares sold:
Class A		17,427,158			157,967,420			8,376,950			71,391,195
Class B – exchanges		5,697			51,078			5,088			43,660
Class C		3,279,004			29,712,726			999,418			8,595,927
Class R3		91,522			846,297			135,756			1,217,248
Class I		19,507,879			177,393,855			17,159,651			147,739,851
Shares issued to shareholders due to reinvestment of distributions:
Class A		986,090			8,982,586			523,508			4,489,426
Class B		11,378			102,611			12,326			104,932
Class C		342,032			3,104,612			207,228			1,772,807
Class R3		3,201			29,717			1,363			11,950
Class I		878,551			7,995,708			704,977			6,048,169
		42,532,512			386,186,610			40,455,227			346,286,143
Shares redeemed:
Class A		(13,374,803	)		(122,270,181	)		(5,802,411	)		(49,818,043	)
Class B		(61,289	)		(553,569	)		(110,048	)		(938,652	)
Class C		(1,750,403	)		(15,927,665	)		(755,495	)		(6,448,153	)
Class R3		(88,527	)		(820,112	)		(119,848	)		(1,075,705	)
Class I		(19,153,223	)		(175,193,826	)		(18,907,106	)		(161,530,004	)
		(34,428,245	)		(314,765,353	)		(25,694,908	)		(219,810,557	)
Net increase (decrease)		8,104,267		$	71,421,257			14,760,319		$	126,475,586

182 Nuveen Investments

	Inflation Protected Securities
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares sold:
Class A		1,694,806		$	20,168,173			1,148,919		$	13,357,415
Class C		505,614			5,961,564			308,270			3,567,603
Class R3		35,887			426,250			11,772			134,949
Class I		11,257,882			134,060,558			11,421,540			131,854,663
Shares issued to shareholders due to reinvestment of distributions:
Class A		20,396			241,583			33,652			389,254
Class C		3,468			41,080			11,715			134,408
Class R3		200			2,341			273			3,148
Class I		41,857			496,088			90,217			1,044,605
		13,560,110			161,397,637			13,026,358			150,486,045
Shares redeemed:
Class A		(1,372,724	)		(15,896,870	)		(648,265	)		(7,460,886	)
Class C		(451,833	)		(5,216,427	)		(234,350	)		(2,658,785	)
Class R3		(3,829	)		(45,626	)		(359	)		(4,024	)
Class I		(7,613,880	)		(89,916,846	)		(7,586,477	)		(87,945,231	)
		(9,442,266	)		(111,075,769	)		(8,469,451	)		(98,068,926	)
Net increase (decrease)		4,117,844		$	50,321,868			4,556,907		$	52,417,119
	Intermediate Government Bond
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares sold:
Class A		326,881		$	2,920,690			178,128		$	1,591,327
Class C		35,579			321,495			38,907			351,437
Class R3		11,902			107,157			18,053			162,281
Class I		939,118			8,433,901			1,166,929			10,484,839
Shares issued to shareholders due to reinvestment of distributions:
Class A		21,291			191,409			27,174			244,409
Class C		1,648			14,848			1,554			13,986
Class R3		356			3,205			906			8,138
Class I		32,993			296,946			65,224			586,776
		1,369,768			12,289,651			1,496,875			13,443,193
Shares redeemed:
Class A		(503,752	)		(4,504,321	)		(387,337	)		(3,470,787	)
Class C		(72,570	)		(648,507	)		(41,502	)		(372,466	)
Class R3		(16,823	)		(150,957	)		(48,768	)		(439,122	)
Class I		(2,787,511	)		(25,089,323	)		(4,661,587	)		(41,906,408	)
		(3,380,656	)		(30,393,108	)		(5,139,194	)		(46,188,783	)
Net increase (decrease)		(2,010,888	)	$	(18,103,457	)		(3,642,319	)	$	(32,745,590	)

Nuveen Investments 183

Notes to Financial Statements (continued)

	Short Term Bond
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares issued from reorganization:
Class A		—		$	—			6,085,212		$	59,925,259
Class C		—			—			4,652,150			45,914,917
Class R3		—			—			50,150			494,189
Class I		—			—			4,827,535			47,552,148
Shares sold:
Class A		14,195,305			142,174,437			1,287,324			12,810,199
Class C		2,079,885			20,930,839			576,630			5,703,964
Class R3		13,656			137,378			14,757			146,434
Class I		31,219,896			313,844,532			36,919,806			367,316,769
Shares issued to shareholders due to reinvestment of distributions:
Class A		201,415			2,023,083			213,454			2,119,111
Class C		40,267			405,400			42,037			418,429
Class R3		13			136			—			—
Class I		355,173			3,568,566			362,732			3,601,315
		48,105,610			483,084,371			55,031,787			546,002,734
Shares redeemed:
Class A		(11,589,330	)		(116,121,452	)		(4,287,115	)		(42,534,725	)
Class C		(1,924,753	)		(19,386,530	)		(1,530,200	)		(15,164,498	)
Class R3		(6,735	)		(67,871	)		(20,128	)		(198,825	)
Class I		(32,412,484	)		(325,666,937	)		(42,737,411	)		(423,585,074	)
		(45,933,302	)		(461,242,790	)		(48,574,854	)		(481,483,122	)
Net increase (decrease)		2,172,308		$	21,841,581			6,456,933		$	64,519,612
	Strategic Income
	Year Ended 6/30/13						Year Ended 6/30/12
	Shares			Amount			Shares			Amount
Shares issued from reorganization:
Class A		—		$	—			2,657,808		$	28,166,954
Class B		—			—			147,656			1,556,581
Class C		—			—			2,026,122			21,334,881
Class R3		—			—			7,780			82,781
Class I		—			—			2,831,674			29,987,500
Shares sold:
Class A		3,848,762			43,710,826			1,254,225			13,398,501
Class B – exchanges		15,433			174,717			18,508			197,468
Class C		956,179			10,853,256			644,248			6,757,921
Class R3		151,296			1,733,433			106,784			1,136,998
Class I		9,103,062			103,952,219			9,257,272			98,728,791
Shares issued to shareholders due to reinvestment of distributions:
Class A		207,145			2,356,102			122,265			1,308,933
Class B		5,430			61,397			4,902			52,181
Class C		83,134			939,722			47,736			508,435
Class R3		8,750			99,942			4,511			48,454
Class I		539,446			6,134,175			598,788			6,388,338
		14,918,637			170,015,789			19,730,279			209,654,717
Shares redeemed:
Class A		(2,364,331	)		(26,682,577	)		(1,494,989	)		(16,025,373	)
Class B		(84,405	)		(954,620	)		(76,386	)		(811,517	)
Class C		(715,688	)		(8,066,326	)		(589,951	)		(6,176,624	)
Class R3		(70,285	)		(797,920	)		(38,862	)		(402,358	)
Class I		(12,041,978	)		(136,432,499	)		(20,718,369	)		(220,597,281	)
		(15,276,687	)		(172,933,942	)		(22,918,557	)		(244,013,153	)
Net increase (decrease)		(358,050	)	$	(2,918,153	)		(3,188,278	)	$	(34,358,436	)

184 Nuveen Investments

Class B Shares converted to Class A Shares (recognized as a component of Class A Shares sold and Class B Shares redeemed) during the fiscal years ended June 30, 2013 and June 30, 2012, were as follows:

Fund	Year Ended 6/30/13		Year Ended 6/30/12
Core Plus Bond		10,994		99,454
High Income Bond		8,431		83,412
Strategic Income		7,581		52,641

5. Investment Transactions

Purchases and sales (including maturities but excluding investments purchased with collateral from securities lending, short-term investments and derivative transactions) during the fiscal year ended June 30, 2013, were as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Purchases:
Investment securities	$	206,011,004	$	179,990,225	$	14,299,754	$	1,010,966,523
U.S. Government and agency obligations		275,158,437		154,623,258		17,587,499		—
Sales and maturities:
Investment securities	$	173,204,435	$	125,886,748	$	11,988,087	$	941,554,844
U.S. Government and agency obligations		346,142,481		204,377,407		16,855,336		—

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Purchases:
Investment securities	$	56,886,791	$	5,863,118	$	461,179,749	$	404,341,128
U.S. Government and agency obligations		209,953,940		34,774,566		100,382,100		77,519,920
Sales and maturities:
Investment securities	$	9,763,278	$	3,149,185	$	290,448,766	$	350,395,843
U.S. Government and agency obligations		190,713,436		46,181,045		77,853,967		87,745,606

Transactions in call options written for Global Total Return Bond and Strategic Income during the fiscal year ended June 30, 2013, were as follows:

	Global Total Return Bond						Strategic Income
	Number of Contracts			Premiums Received			Number of Contracts			Premiums Received
Outstanding, beginning of period		—		$	—			—		$	—
Options written		300,009			4,008			339			39,307
Options terminated in closing purchase transactions		(9	)		(1,045	)		(339	)		(39,307	)
Options expired		(300,000	)		(2,963	)		—			—
Outstanding, end of period		—		$	—			—		$	—

6. Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset values of the Funds.

As of June 30, 2013, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives), as determined on a federal income tax basis, were as follows:

	Core Bond			Core Plus Bond			Global Total Return Bond			High Income Bond
Cost of investments	$	574,081,940		$	744,440,311		$	20,013,711		$	838,325,182
Gross unrealized:
Appreciation		11,126,867			33,246,997			280,133			14,444,368
Depreciation		(10,393,648	)		(16,854,418	)		(704,634	)		(24,245,503	)
Net unrealized appreciation (depreciation) of investments	$	733,219		$	16,392,579		$	(424,501	)	$	(9,801,135	)

Nuveen Investments 185

Notes to Financial Statements (continued)

	Inflation Protected Securities			Intermediate Government Bond			Short Term Bond			Strategic Income
Cost of investments	$	393,862,957		$	65,517,674		$	1,004,155,644		$	681,201,056
Gross unrealized:
Appreciation		9,229,909			1,887,598			12,306,251			23,126,781
Depreciation		(12,588,601	)		(917,610	)		(8,511,345	)		(25,221,812	)
Net unrealized appreciation (depreciation) of investments	$	(3,358,692	)	$	969,988		$	3,794,906		$	(2,095,031	)

Permanent differences, primarily due to federal taxes paid, treatment of notional principal contracts, paydown adjustments, nondeductible reorganization expenses, expiration of capital loss carryforwards, distribution reclassifications, adjustments for investments in real estate investment trusts, investments in partnerships, tax basis earnings and profit adjustments and foreign currency reclassifications resulted in reclassifications among the Funds’ components of net assets as of June 30, 2013, the Funds’ tax year end, as follows:

	Core Bond			Core Plus Bond			Global Total  Return Bond			High Income Bond
Capital paid-in	$	(19	)	$	(18	)	$	(32,827	)	$	182,858
Undistributed (Over-distribution of) net investment income		728,231			(612,822	)		198,781			39,031
Accumulated net realized gain (loss)		(728,212	)		612,840			(165,954	)		(221,889	)

	Inflation Protected Securities			Intermediate Government Bond			Short Term Bond			Strategic Income
Capital paid-in	$	(10	)	$	(40,380	)	$	(137,442	)	$	(32,476	)
Undistributed (Over-distribution of) net investment income		(10,776	)		73,792			(705,285	)		5,332,297
Accumulated net realized gain (loss)		10,786			(33,412	)		842,727			(5,299,821	)

The tax components of undistributed net ordinary income and net long-term capital gains as of June 30, 2013, the Funds’ tax year end, were as follows:

	Core Bond		Core Plus Bond		Global Total  Return Bond		High Income Bond
Undistributed net ordinary income1	$	—	$	2,128,428	$	827,480	$	12,400,371
Undistributed net long-term capital gains		5,763,177		8,014,634		109,476		6,950,772

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Undistributed net ordinary income1	$	—	$	—	$	194,572	$	15,392,171
Undistributed net long-term capital gains		5,864,404		—		—		—

¹  Undistributed net ordinary income (on a tax basis) has not been reduced for the dividend declared during the period June 1, 2013 through June 30, 2013 and paid on July 1, 2013. Net ordinary income consists of net taxable income derived from dividends, interest and net short-term capital gains, if any.

The tax character of distributions paid during the Funds’ tax years ended June 30, 2013 and June 30, 2012, was designated for purposes of the dividends paid deduction as follows:

2013	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Distributions from net ordinary income2	$	13,784,566	$	28,553,783	$	944,239	$	54,643,445
Distributions from net long-term capital gains3		16,155,610		2,993,924		50,774		—

2013	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Distributions from net ordinary income2	$	4,715,830	$	1,553,066	$	20,153,340	$	28,538,703
Distributions from net long-term capital gains3		279,031		—		—		—

186 Nuveen Investments

2012	Core Bond		Core Plus Bond		Global Total  Return Bond4		High Income Bond
Distributions from net ordinary income2	$	19,971,210	$	36,167,948	$	162,229	$	43,906,949
Distributions from net long-term capital gains		1,045,132		—		—		1,916,654

2012	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Distributions from net ordinary income2	$	10,896,873	$	2,413,551	$	20,732,280	$	27,006,884
Distributions from net long-term capital gains		—		—		—		—

²  Net ordinary income consists of net taxable income derived from dividends, interest and net short-term capital gains, if any.

³  The Fund hereby designates as long-term capital gain dividend, pursuant to the Internal Revenue Code Section 852(b)(3), the amount necessary to reduce earnings and profits of the Funds related to net capital gain to zero for the tax year ended June 30, 2013.

⁴  For the period December 2, 2011 (commencement of operations) through June 30, 2012.

As of June 30, 2013, the Funds’ tax year end, the following Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as shown in the following table. The losses not subject to expiration retain the character reflected and will be utilized first by a Fund, while the losses subject to expiration are considered short-term:

	Intermediate Government Bond5		Short Term Bond		Strategic Income
Expiration:
June 30, 2014	$	873,239	$	7,386,527	$	—
June 30, 2015		2,446,535		7,432,482		—
June 30, 2016		164,695		48,855		—
June 30, 2017		3,538,398		1,188,199		5,090,497
June 30, 2018		—		4,103,631		37,557,087
Not subject to expiration:
Short-term losses		—		2,185,045		—
Long-term losses		—		—		—
Total	$	7,022,867	$	22,344,739	$	42,647,584

⁵  A portion of Intermediate Governments Bond’s capital loss carryforward is subject to an annual limitation under Internal Revenue Code and related regulations.

During the Funds’ tax year ended June 30, 2013, the following Funds utilized their capital loss carryforwards as follows:

	Core Plus Bond		High Income Bond		Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Utilized capital loss carryforwards	$	558,658	$	8,351,905	$	2,034,554	$	512,018	$	3,868,978	$	16,793,614

As of June 30, 2013, the Funds’ tax year end, $54,933 of Short Term Bond’s capital loss carryforward expired.

The Funds have elected to defer late-year losses in accordance with federal income tax rules. These losses are treated as having arisen on the first day of the following fiscal year. The following Funds have elected to defer losses as follows:

	Global Total Return Bond		Intermediate Government Bond
Post-October capital losses6	$	—	$	250,673
Late-year ordinary losses7		123,201		—

⁶  Capital losses incurred from November 1, 2012 through June 30, 2013, the Funds’ tax year end.

⁷  Ordinary losses incurred from January 1, 2013 through June 30, 2013, and specified losses incurred from November 1, 2012 through June 30, 2013.

7. Management Fees and Other Transactions with Affiliates

Each Fund’s management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.

Nuveen Investments 187

Notes to Financial Statements (continued)

The annual fund-level fee for each Fund, payable monthly, is calculated according to the following schedule:

Average Daily Net Assets	Core Bond Fund-Level Fee Rate			Core Plus Bond Fund-Level Fee Rate			Global Total Return Bond Fund-Level Fee Rate			High Income Bond Fund-Level Fee Rate			Inflation Protected Securities Fund-Level Fee Rate			Intermediate Government Bond Fund-Level Fee Rate			Short Term Bond Fund-Level Fee Rate			Strategic Income Fund-Level Fee Rate
For the first $125 million		.2700	%		.2800	%		.4000	%		.4000	%		.2500	%		.2700	%		.2200	%		.3600	%
For the next $125 million		.2575			.2675			.3875			.3875			.2375			.2575			.2075			.3475
For the next $250 million		.2450			.2550			.3750			.3750			.2250			.2450			.1950			.3350
For the next $500 million		.2325			.2425			.3625			.3625			.2125			.2325			.1825			.3225
For the next $1 billion		.2200			.2300			.3500			.3500			.2000			.2200			.1700			.3100
For net assets over $2 billion		.1950			.2050			.3250			.3250			.1750			.1950			.1450			.2850

The annual complex-level fee for each Fund, payable monthly, is determined by taking the complex-level fee rate, which is based on the aggregate amount of “eligible assets” of all Nuveen funds as set forth in the schedule below, and (except for Global Total Return Bond) making, as appropriate, an upward adjustment to that rate based upon the percentage of the particular fund’s assets that are not “eligible assets.” The complex-level fee schedule for each Fund is as follows:

Complex-Level Asset Breakpoint Level*	Effective Rate at Breakpoint Level
$55 billion		.2000	%
$56 billion		.1996
$57 billion		.1989
$60 billion		.1961
$63 billion		.1931
$66 billion		.1900
$71 billion		.1851
$76 billion		.1806
$80 billion		.1773
$91 billion		.1691
$125 billion		.1599
$200 billion		.1505
$250 billion		.1469
$300 billion		.1445

* The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen Funds. Eligible assets do not include assets attributable to investments in other Nuveen Funds or assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. Eligible assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end funds’ use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by the TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in certain circumstances. As of June 30, 2013, the complex-level fee rate for each Fund was as follows:

Fund	Complex-Level Fee Rate
Core Bond		.2000	%
Core Plus Bond		.2000
Global Total Return Bond		.1679
High Income Bond		.1876
Inflation Protected Securities		.1832
Intermediate Government Bond		.2000
Short Term Bond		.1920
Strategic Income		.1986

The management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Adviser is responsible for each Fund’s overall strategy and asset allocations decisions. The Adviser has entered into sub-advisory agreements with the Sub-Adviser under which the Sub-Adviser manages the investment portfolios of the Funds. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

188 Nuveen Investments

The Adviser has contractually agreed to waive fees and/or reimburse so that total annual Fund operating expenses, (excluding acquired Fund fees and expenses) for the following Funds do not exceed the average daily net assets of any class of Fund shares in the amounts and for the time periods stated in the following table:

	Core Bond			Core Plus Bond			High Income Bond
Class A		.78	%		.77	%		.99	%
Class B		N/A			1.52			1.74
Class C		1.53			1.52			1.74
Class R3		N/A			1.02			1.24
Class I		.53			.52			.74
Expiration Date		October 31, 2013			October 31, 2013			October 31, 2013

	Inflation Protected Securities			Intermediate Government Bond			Short Term Bond			Strategic Income
Class A		.85	%		.85	%		.72	%		.84	%
Class B		N/A			N/A			N/A			1.59
Class C		1.60			1.60			1.47			1.59
Class R3		1.10			1.10			.97			1.09
Class I		.60			.60			.47			.59
Expiration Date		October 31, 2013			October 31, 2013			October 31, 2013			October 31, 2013

N/A – Core Bond does not offer Class B Shares or Class R3 Shares. Inflation Protected Securities, Intermediate Government Bond and Short Term Bond do not offer Class B Shares.

The Adviser has agreed to waive fees and/or reimburse expenses through October 31, 2014, so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) for Global Total Return Bond do not exceed .75% of the average daily net assets of any class of Fund shares.

The Adviser may also voluntarily reimburse expenses from time to time in any of the Funds. Voluntarily reimbursements may be terminated at any time at the Adviser’s discretion.

Neither Trust pays compensation directly to those of its directors/trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to each Trust from the Adviser or its affiliates. The Board of Directors/Trustees has adopted a deferred compensation plan for independent directors/trustees that enable directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

During the fiscal year ended June 30, 2013, Nuveen Securities, LLC. (the “Distributor”), a wholly-owned subsidiary of Nuveen, collected sales charges on purchases of Class A Shares, the majority of which were paid out as concessions to financial intermediaries as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Sales charges collected (Unaudited)	$	10,605	$	70,918	$	15,133	$	1,296,089
Paid to financial intermediaries (Unaudited)		8,512		62,247		13,566		1,170,197

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Sales charges collected (Unaudited)	$	118,426	$	5,193	$	91,616	$	252,575
Paid to financial intermediaries (Unaudited)		105,273		4,255		81,904		232,109

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

During the fiscal year ended June 30, 2013, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
Commission advances (Unaudited)	$	2,638	$	7,926	$	576	$	461,701

Nuveen Investments 189

Notes to Financial Statements (continued)

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
Commission advances (Unaudited)	$	52,585	$	1,701	$	77,252	$	155,956

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class B Shares and Class C Shares during the first year following a purchase are retained by the Distributor. During the fiscal year ended June 30, 2013, the Distributor retained such 12b-1 fees as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
12b-1 fees retained (Unaudited)	$	7,594	$	13,108	$	854	$	202,828

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
12b-1 fees retained (Unaudited)	$	40,397	$	4,594	$	41,642	$	77,274

The remaining 12b-1 fees charged to the Funds were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

The Distributor also collected and retained CDSC on share redemptions during the fiscal year ended June 30, 2013, as follows:

	Core Bond		Core Plus Bond		Global Total Return Bond		High Income Bond
CDSC retained (Unaudited)	$	29	$	2,174	$	—	$	22,237

	Inflation Protected Securities		Intermediate Government Bond		Short Term Bond		Strategic Income
CDSC retained (Unaudited)	$	1,584	$	21	$	44,732	$	12,225

As of June 30, 2013, Nuveen owned 2,280, 2,280 and 676,175 of Global Total Return Classes C, R3 and I respectively.

8. New Accounting Pronouncements

Financial Accounting Standards Board (“FASB”) Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities

In January 2013, Accounting Standards Update (“ASU”) 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, replaced ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. ASU 2013-01 is effective for fiscal years beginning on or after January 1, 2013. ASU 2011-11 was intended to enhance disclosure requirements on the offsetting of financial assets and liabilities. ASU 2013-01 limits the scope of the new balance sheet offsetting disclosures to derivatives, repurchase agreements and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. Management is currently evaluating the application of ASU 2013-01 and its impact to the financial statements and footnote disclosures, if any.

190 Nuveen Investments

Trustees and Officers (Unaudited)

The management of the Funds, including general supervision of the duties performed for the Funds by the Adviser, is the responsibility of the Board of Trustees of the Funds. The number of trustees of the Funds is currently set at ten. None of the trustees who are not “interested” persons of the Funds (referred to herein as “independent trustees”) has ever been a director or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the trustees and officers of the Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each oversees and other directorships they hold are set forth below.

The Funds’ Statement of Additional Information (“SAI”) includes more information about the trustees. To request a free copy, call Nuveen Investments at (800) 257-8787 or visit the Funds’ website at www.nuveen.com.

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Independent Trustees:
William J. Schneider 1944 333 W. Wacker Drive Chicago, IL 60606	Chairman of the Board and Trustee	1996	Chairman of Miller-Valentine Partners Ltd., a real estate investment company; formerly, Senior Partner and Chief Operating Officer (retired 2004) of Miller-Valentine Group; owner in several other Miller-Valentine; entities; Board Member of Mid-America Health System, Tech Town, Inc., a not-for-profit community development company and WDPR Public Radio Station; formerly, member, Business Advisory Council, Cleveland Federal Reserve Bank and University of Dayton Business School Advisory Council.	211
Robert P. Bremner 1940 333 W. Wacker Drive Chicago, IL 60606	Trustee	1996	Private Investor and Management Consultant; Treasurer and Director, Humanities Council of Washington, D.C.; Board Member, Independent Directors Council affiliated with the Investment Company Institute.	211
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606	Trustee	1999	President, The Hall-Perrine Foundation, a private philanthropic corporation (since 1996); Chairman, United Fire Group, a publicly held company; formerly, member and President Pro-Tem of the Board of Regents for the State of Iowa University System; Director, Source Media Group; Life Trustee of Coe College; formerly, Director, Alliant Energy; formerly, Director, Federal Reserve Bank of Chicago; formerly, President and Chief Operating Officer, SCI Financial Group, Inc., a regional financial services firm.	211
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606	Trustee	2004	Dean Emeritus (since June 30, 2012), formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director (since 2004) of Xerox Corporation; Director (since 2005), and President (since July 2012) Beta Gamma Sigma, Inc., The International Honor Society; Director of Wellmark, Inc. (since 2009); formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University.	211
David J. Kundert 1942 333 W. Wacker Drive Chicago, IL 60606	Trustee	2005	Formerly, Director, Northwestern Mutual Wealth Management Company; (2006-2013) retired (since 2004) as Chairman, JPMorgan Fleming Asset Management, President and CEO, Banc One Investment Advisors Corporation, and President, One Group Mutual Funds; prior thereto, Executive Vice President, Banc One Corporation and Chairman and CEO, Banc One Investment Management Group; Regent Emeritus, Member of Investment Committee, Luther College; member of the Wisconsin Bar Association; member of Board of Directors, Friends of Boerner Botanical Gardens; member of Board of Directors and Chair of Investment Committee, Greater Milwaukee Foundation; member of the Board of Directors (Milwaukee), College Possible.	211
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606	Trustee	1997	Formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (since 1994); prior thereto, Executive Director, Great Lakes Protection Fund (1990-1994).	211

Nuveen Investments 191

Trustees and Officers (Unaudited) (continued)

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606	Trustee	2007	Director, Chicago Board Options Exchange (since 2006); Director, C2 Options Exchange, Incorporated (since 2009); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010); formerly, Chair, New York Racing Association Oversight Board (2005-2007).	211
Virginia L. Stringer 1944 333 W. Wacker Drive Chicago, IL 60606	Trustee	2011	Board Member, Mutual Fund Directors Forum; former governance consultant and non-profit board member; former Owner and President, Strategic Management Resources, Inc. a management consulting firm; former Member, Governing Board, Investment Company Institute’s Independent Directors Council; previously, held several executive positions in general management, marketing and human resources at IBM and The Pillsbury Company; Independent Director, First American Fund Complex (1987-2010) and Chair (1997-2010).	211
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606	Trustee	2008	Managing Partner, Promus Capital (since 2008); Director, Fulcrum IT Service LLC (since 2010), Quality Control Corporation (since 2012) and LogicMark LLC (since 2012); formerly, Director, Legal & General Investment Management America, Inc. (2008-2013); formerly, CEO and President, Northern Trust Global Investments (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (since 1994); member: Chicago Fellowship Board (since 2005), Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (since 2012), and a member of its investment committee; formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003-2007) and Northern Trust Hong Kong Board (1997-2004).	211
Interested Trustee:
John P. Amboian (2) 1961 333 W. Wacker Drive Chicago, IL 60606	Trustee	2008	Chief Executive Officer and Chairman (since 2007) and Director (since 1999) of Nuveen Investments, Inc., formerly, President (1999-2007); Chief Executive Officer (since 2007) of Nuveen Investments Advisers Inc.; Director (since 1998) formerly, Chief Executive Officer (2007-2010) of Nuveen Fund Advisors, LLC.	211
Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (3)	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Officer
Officers of the Funds:
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606	Chief Administrative Officer	1988	Managing Director (since 2002), and Assistant Secretary of Nuveen Securities, LLC; Managing Director (since 2004) and Assistant Secretary (since 1994) of Nuveen Investments, Inc.; Managing Director (since 2002), Assistant Secretary (since 1997) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2011); Managing Director, Associate General Counsel and Assistant Secretary of Symphony Asset Management LLC (since 2003); Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (since 2002), Nuveen Investments Advisers Inc. (since 2002), Santa Barbara Asset Management, LLC (since 2006) and of Winslow Capital Management, LLC, (since 2010); Vice President and Assistant Secretary (since 2013), formerly, Chief Administrative Officer and Chief Compliance Officer (2006-2013) of Nuveen Commodities Asset Management, LLC; Chartered Financial Analyst.	211

192 Nuveen Investments

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (3)	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Officer
Margo L. Cook 1964 333 W. Wacker Drive Chicago, IL 60606	Vice President	2009	Executive Vice President (since 2008) of Nuveen Investments, Inc. and of Nuveen Fund Advisors, LLC (since 2011); Managing Director – Investment Services of Nuveen Commodities Asset Management, LLC (since August 2011), previously, Head of Institutional Asset Management (2007-2008) of Bear Stearns Asset Management; Head of Institutional Asset Management (1986-2007) of Bank of NY Mellon; Chartered Financial Analyst.	211
Lorna C. Ferguson 1945 333 W. Wacker Drive Chicago, IL 60606	Vice President	1998	Managing Director (since 2005) of Nuveen Fund Advisors, LLC and Nuveen Securities, LLC (since 2004).	211
Stephen D. Foy 1954 333 W. Wacker Drive Chicago, IL 60606	Vice President and Controller	1998	Senior Vice President (2010-2011), formerly, Vice President (2005-2010) and Funds Controller of Nuveen Securities, LLC; Senior Vice President (since 2013), formerly, Vice President of Nuveen Fund Advisors, LLC; Chief Financial Officer of Nuveen Commodities Asset Management, LLC (since 2010); Certified Public Accountant.	211
Scott S. Grace 1970 333 W. Wacker Drive Chicago, IL 60606	Vice President and Treasurer	2009	Managing Director, Corporate Finance & Development, Treasurer (since 2009) of Nuveen Securities, LLC; Managing Director and Treasurer (since 2009) of Nuveen Fund Advisors, LLC, Nuveen Investments Advisers, Inc., Nuveen Investments Holdings Inc. and (since 2011) Nuveen Asset Management, LLC; Vice President and Treasurer of NWQ Investment Management Company, LLC, Tradewinds Global Investors, LLC, Symphony Asset Management LLC and Winslow Capital Management, LLC.; Vice President of Santa Barbara Asset Management, LLC; formerly, Treasurer (2006-2009), Senior Vice President (2008-2009), previously, Vice President (2006-2008) of Janus Capital Group, Inc.; formerly, Senior Associate in Morgan Stanley’s Global Financial Services Group (2000-2003); Chartered Accountant Designation.	211
Walter M. Kelly 1970 333 W. Wacker Drive Chicago, IL 60606	Chief Compliance Officer and Vice President	2003	Senior Vice President (since 2008) and Assistant Secretary (since 2003) of Nuveen Fund Advisors, LLC; Senior Vice President (since 2008) of Nuveen Investments Holdings, Inc; formerly, Senior Vice President (2008-2011) of Nuveen Securities, LLC.	211
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606	Vice President	2002	Senior Vice President (since 2010), formerly, Vice President (2005-2010) of Nuveen Fund Advisors, LLC.	211
Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (3)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Officer
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606	Vice President and Secretary	2007	Managing Director and Assistant Secretary (since 2008), Nuveen Securities, LLC; Managing Director (since 2008), Assistant Secretary (since 2007) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Managing Director (since 2008), and Assistant Secretary, Nuveen Investment Holdings, Inc.; Vice President (since 2007) and Assistant Secretary of Nuveen Investments Advisers Inc., NWQ Investment Management Company, LLC, Tradewinds Global Investors LLC, Symphony Asset Management LLC, Santa Barbara Asset Management, LLC, and of Winslow Capital Management, LLC. (since 2010); Vice President and Secretary (since 2010) of Nuveen Commodities Asset Management, LLC.	211

Nuveen Investments 193

Trustees and Officers (Unaudited) (continued)

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (3)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Officer
Kathleen L. Prudhomme 1953 901 Marquette Avenue Minneapolis, MN 55402	Vice President and Assistant Secretary	2011	Managing Director, Assistant Secretary and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Managing Director and Assistant Secretary (since 2011) of Nuveen Securities, LLC; formerly, Deputy General Counsel, FAF Advisors, Inc. (2004-2010).	211
Joel T. Slager 1978 333 West Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2013	Fund Tax Director for Nuveen Funds (since May, 2013); previously, Vice President of Morgan Stanley Investment Management, Inc., Assistant Treasurer of the Morgan Stanley Funds (from 2010 to 2013); Tax Director at PricewaterhouseCoopers LLP (from 2008 to 2010).	211
Jeffery M. Wilson 1956 333 West Wacker Drive Chicago, IL 60606	Vice President	2011	Senior Vice President of Nuveen Securities, LLC (since 2011); formerly, Senior Vice President of FAF Advisors, Inc. (2000-2010).	108

(1) Trustees serve an indefinite term until his/her successor is elected or appointed. The year first elected or appointed represents the year in which the trustee was first elected or appointed to any fund in the Nuveen Fund Complex.

(2) Mr. Amboian is an interested trustee because of his position with Nuveen Investments, Inc. and certain of its subsidiaries, which are affiliates of the Nuveen Funds.

(3) Officers serve one year terms through August of each year. The year first elected or appointed represents the year in which the officer was first elected or appointed to any fund in the Nuveen Fund Complex.

194 Nuveen Investments

Annual Investment Management Agreement Approval Process

(Unaudited)

The Board of Trustees or Directors, as applicable (each, a “Board” and each Trustee or Director, a “Board Member”) of the Funds, including the Board Members who are not parties to the Funds’ advisory or sub-advisory agreements or “interested persons” of any such parties (the “Independent Board Members”), is responsible for approving the advisory agreements (each, an “Investment Management Agreement”) between each Fund and Nuveen Fund Advisors, LLC (the “Advisor”) and the sub-advisory agreements (each, a “Sub-Advisory Agreement”) between the Advisor and Nuveen Asset Management, LLC (the “Sub-Advisor”) (the Investment Management Agreements and the Sub-Advisory Agreements are referred to collectively as the “Advisory Agreements”) and their periodic continuation. Pursuant to the Investment Company Act of 1940, as amended (the “1940 Act”), the Board is required to consider the continuation of the Advisory Agreements on an annual basis. Accordingly, at an in-person meeting held on May 20-22, 2013 (the “May Meeting”), the Board, including a majority of the Independent Board Members, considered and approved the continuation of the Advisory Agreements for the Funds for an additional one-year period.

In preparation for its considerations at the May Meeting, the Board requested and received extensive materials prepared in connection with the review of the Advisory Agreements. The materials provided a broad range of information regarding the Funds, the Advisor and the Sub-Advisor (the Advisor and the Sub-Advisor are collectively, the “Fund Advisers” and each, a “Fund Adviser”). As described in more detail below, the information provided included, among other things, a review of Fund performance, including Fund investment performance assessments against peer groups and appropriate benchmarks; a comparison of Fund fees and expenses relative to peers; a description and assessment of shareholder service levels for the Funds; a summary of the performance of certain service providers; a review of product initiatives and shareholder communications; and an analysis of the Advisor’s profitability with comparisons to comparable peers in the managed fund business. As part of its annual review, the Board also held a separate meeting on April 17-18, 2013, to review the Funds’ investment performance and consider an analysis provided by the Advisor of the Sub-Advisor which generally evaluated the Sub-Advisor’s investment team, investment mandate, organizational structure and history, investment philosophy and process, performance of the applicable Fund, and significant changes to the foregoing. As a result of its review of the materials and discussions, the Board presented the Advisor with questions and the Advisor responded.

The materials and information prepared in connection with the annual review of the Advisory Agreements supplement the information and analysis provided to the Board during the year. In this regard, throughout the year, the Board, acting directly or through its committees, regularly reviews the performance and various services provided by the Advisor and the Sub-Advisor. The Board meets at least quarterly as well as at other times as the need arises. At its quarterly meetings, the Board reviews reports by the Advisor regarding, among other things, fund performance, fund expenses, the performance of the investment teams, and compliance, regulatory and risk management matters. In addition to regular reports, the Advisor provides special reports to the Board or a committee thereof from time to time to enhance the Board’s understanding of various topics that impact some or all the Nuveen funds (such as accounting and financial statement presentations of the various forms of leverage that may be used by a closed-end fund or an update on the valuation policies and procedures), to update the Board on regulatory developments impacting the investment company industry or to update the Board on the business plans or other matters impacting the Advisor. The Board also meets with key investment personnel managing the fund portfolios during the year. In October 2011, the Board also created two standing committees (the Open-End Fund Committee and the Closed-End Fund Committee) to assist the full Board in monitoring and gaining a deeper insight into the distinctive business practices of open-end and closed-end funds. These Committees meet prior to each quarterly Board meeting, and the Advisor provides presentations to these Committees permitting them to delve further into specific matters or initiatives impacting the respective product line.

In addition, the Board continues its program of seeking to have the Board Members or a subset thereof visit each sub-advisor to the Nuveen funds at least once over a multiple year rotation, meeting with key investment and business personnel. In this regard, the Independent Board Members visited certain of the Sub-Advisor’s investment teams in Minneapolis in September 2012, and the Sub-Advisor’s municipal team in November 2012. In addition, the ad hoc Securities Lending Committee of the Board met with certain service providers and the Audit Committee of the Board made a site visit to three pricing service providers.

The Board considers the information provided and knowledge gained at these meetings and visits during the year when performing its annual review of the Advisory Agreements. The Independent Board Members also are assisted throughout the process by independent legal counsel. Counsel provided materials describing applicable law and the duties of directors or trustees in reviewing advisory contracts. During the course of the year and during their deliberations regarding the review of advisory contracts, the Independent Board Members met with independent legal counsel in executive sessions without management present. In addition, it is important to recognize that the management arrangements for the Nuveen funds are the result of many years of review and discussion between the Independent Board Members and fund management and that the Board Members’ conclusions may be based, in part, on their consideration of fee arrangements and other factors developed in previous years.

The Board considered all factors it believed relevant with respect to each Fund, including among other factors: (a) the nature, extent and quality of the services provided by the Fund Advisers, (b) the investment performance of the Fund and Fund Advisers, (c) the advisory fees and costs of the services to be provided to the Fund and the profitability of the Fund Advisers, (d) the extent of any economies of scale, (e) any benefits derived by the Fund Advisers from the relationship with the Fund and (f) other factors. Each Board Member may have accorded different weight to the various factors in reaching his or her conclusions with respect to a Fund’s Advisory

Nuveen Investments 195

Annual Investment Management Agreement Approval Process

(Unaudited) (continued)

Agreements. The Independent Board Members did not identify any single factor as all important or controlling. The Independent Board Members’ considerations were instead based on a comprehensive consideration of all the information presented. The principal factors considered by the Board and its conclusions are described below.

A. Nature, Extent and Quality of Services

In considering renewal of the Advisory Agreements, the Independent Board Members considered the nature, extent and quality of the Fund Adviser’s services, including advisory services and the resulting Fund performance and administrative services. The Independent Board Members further considered the overall reputation and capabilities of the Advisor and its affiliates, the commitment of the Advisor to provide high quality service to the Funds, their overall confidence in the capability and integrity of the Advisor and its staff and the Advisor’s responsiveness to questions and concerns raised by them. The Independent Board Members reviewed materials outlining, among other things, the Fund Adviser’s organization and business; the types of services that the Fund Adviser or its affiliates provide to the Funds; the performance record of the applicable Fund (as described in further detail below); and any applicable initiatives Nuveen had taken for the open-end fund product line.

In considering advisory services, the Board recognized that the Advisor provides various oversight, administrative, compliance and other services for the Funds and the Sub-Advisor generally provides the portfolio investment management services to the Funds. In reviewing the portfolio management services provided to each Fund, the Board reviewed the materials provided by the Nuveen Investment Services Oversight Team analyzing, among other things, the Sub-Advisor’s investment team and changes thereto, organization and history, assets under management, the investment team’s philosophy and strategies in managing the Fund, developments affecting the Sub-Advisor or Fund and Fund performance. The Independent Board Members also reviewed portfolio manager compensation arrangements to evaluate each Fund Adviser’s ability to attract and retain high quality investment personnel, preserve stability, and reward performance but not provide an inappropriate incentive to take undue risks. In addition, the Board considered the Advisor’s execution of its oversight responsibilities over the Sub-Advisor. Given the importance of compliance, the Independent Board Members also considered Nuveen’s compliance program, including the report of the chief compliance officer regarding the Funds’ compliance policies and procedures; the resources dedicated to compliance; and the record of compliance with the policies and procedures. Given the Advisor’s emphasis on business risk, the Board also appointed an Independent Board Member as a point person to review and keep the Board apprised of developments in this area during the year.

In addition to advisory services, the Board considered the quality and extent of administrative and other non-investment advisory services the Advisor and its affiliates provide to the Funds, including product management, investment services (such as oversight of investment policies and procedures, risk management, and pricing), fund administration, oversight of service providers, shareholder services and communications, administration of Board relations, regulatory and portfolio compliance and legal support. The Board further recognized Nuveen’s additional investments in personnel, including in compliance and risk management.

In reviewing the services provided, the Board considered the new services and service enhancements that the Advisor has implemented since the various advisory agreements were last reviewed. In reviewing the activities of 2012, the Board recognized the Advisor’s focus on product rationalization for both closed-end and open-end funds during the year, consolidating certain Nuveen funds through mergers that were designed to improve efficiencies and economies of scale for shareholders, repositioning various Nuveen funds through updates in their investment policies and guidelines with the expectation of bringing greater value to shareholders, and liquidating certain Nuveen funds. The Board recognized the Advisor’s significant investment in technology initiatives to, among other things, create a central repository for fund and other Nuveen product data, develop a group within the Advisor designed to handle and analyze fund performance data, and implement a data system to support the risk oversight group. The Board also recognized the enhancements in the valuation group within the Advisor, including upgrading the team and process and automating certain basic systems, and in the compliance group with the addition of personnel, particularly within the testing group. With the advent of the Open-End Fund Committee and Closed-End Fund Committee, the Board also noted the enhanced support and comprehensive in-depth presentations provided by the Advisor to these committees.

In addition to the foregoing actions, the Board also considered other initiatives related to the open-end Nuveen funds including, among other things, the development of a comprehensive strategic plan and the addition of members to the product strategy team; the commencement of various new funds; the removal of redemption fees for certain funds; the establishment of a working group to enhance the Advisor’s oversight of the disclosures pertaining to Nuveen’s products and services; the acceleration of monthly holdings disclosure for certain funds; and the development of a new share class for certain funds.

Based on their review, the Independent Board Members found that, overall, the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement were satisfactory.

B. The Investment Performance of the Funds and Fund Advisers

The Board, including the Independent Board Members, considered the performance history of each Fund over various time periods. The Board reviewed reports, including an analysis of the Funds’ performance and the applicable investment team. In general, in considering a fund’s performance, the Board recognized that a fund’s performance can be reviewed through various measures including the fund’s absolute return, the fund’s return compared to the performance of other peer funds, and the fund’s performance compared to its respective benchmark. Accordingly, the Board reviewed, among other things, each Fund’s historic investment

196 Nuveen Investments

performance as well as information comparing the Fund’s performance information with that of other funds (the “Performance Peer Group”) and with recognized and/or customized benchmarks (i.e., benchmarks derived from multiple recognized benchmarks) for the quarter, one-, three- and five-year periods ending December 31, 2012 as well as performance information reflecting the first quarter of 2013 (or for such shorter periods available for the Nuveen Global Total Return Bond Fund (the “Global Fund”), which did not exist for part of the foregoing time frame). This information supplemented the fund performance information provided to the Board at each of its quarterly meetings.

In evaluating performance, the Board recognized several factors that may impact the performance data as well as the consideration given to particular performance data. The Board recognized that the performance data reflects a snapshot of time, in this case as of the end of the most recent calendar year or quarter. The Board noted that selecting a different performance period could derive significantly different results. Further, the Board recognized that it is possible that long-term performance can be adversely affected by even one period of significant underperformance so that a single investment decision or theme has the ability to disproportionately affect long-term performance. The Independent Board Members also noted that the investment experience of a particular shareholder in the Nuveen funds will vary depending on when such shareholder invests in the applicable fund, the class held (if multiple classes are offered in a fund) and the performance of the fund (or respective class) during that shareholder’s investment period.

With respect to the comparative performance information, the Board recognized that the usefulness of comparative performance data as a frame of reference to measure a fund’s performance may be limited because the Performance Peer Group, among other things, does not adequately reflect the objectives and strategies of the fund, has a different investable universe, or the composition of the peer set may be limited in size or number as well as other factors. In this regard, the Board noted that the Advisor classified, in relevant part, the Performance Peer Groups of certain funds as having significant differences from the funds but to still be somewhat relevant, while the Performance Peer Groups of other funds were classified as having such significant differences as to be irrelevant. Accordingly, while the Board is cognizant of the relative performance of a fund’s peer set and/or benchmark(s), the Board evaluated fund performance in light of the respective fund’s investment objectives, investment parameters and guidelines and considered that the variations between the objectives and investment parameters or guidelines of the funds with their peers and/or benchmarks result in differences in performance results. The Board also noted that open-end funds offer multiple classes and the performance of the various classes of a fund should be substantially similar on a relative basis because all of the classes are invested in the same portfolio of securities and that differences in performance among classes could be principally attributed to the variations in distribution and servicing expenses of each class. In addition, with respect to any Nuveen funds for which the Board has identified performance concerns, the Board monitors such funds closely until performance improves, discusses with the Advisor the reasons for such results, considers those steps necessary or appropriate to address such issues, and reviews the results of any efforts undertaken.

In considering the performance data for the Funds, the Independent Board Members noted that the Nuveen Short Term Bond Fund (the “Short Term Fund”), the Nuveen Core Bond Plus Bond Fund (the “Core Plus Fund”), the Nuveen Strategic Income Fund (the “Strategic Income Fund”), the Nuveen High Income Bond Fund (the “High Income Fund”), and the Nuveen Inflation Protected Securities Fund (the “Inflation Protected Fund”) had demonstrated generally favorable performance in comparison to peers, performing in the first or second quartile over various periods. In addition, they noted that the Nuveen Core Bond Fund (the “Core Bond Fund”) and the Nuveen Intermediate Government Bond Fund (the “Intermediate Government Fund”) had satisfactory performance compared to their peers. With respect to the Core Bond Fund, the Independent Board Members noted that although such Fund performed in the fourth quartile and underperformed its benchmark in the three-year period, it performed in the third quartile in the five-year period, the second quartile in the one-year period, outperformed its benchmark in the one-year period and provided generally comparable returns to its benchmark in the five-year period. With respect to the Intermediate Government Fund, the Independent Board Members noted that such Fund had performed in the third quartile over various periods and that it also outperformed its benchmark in the one-year period and provided generally comparable performance to its benchmark in the three- and five-year periods. Finally, the Independent Board Members noted that the Global Fund was relatively new with a shorter performance history available, thereby limiting the ability to make a meaningful assessment of performance; they observed, however, that such Fund was in the first quartile and outperformed its benchmark for the one-year period.

Based on their review, the Independent Board Members determined that each Fund’s investment performance had been satisfactory.

C. Fees, Expenses and Profitability

1. Fees and Expenses

The Board evaluated the management fees and expenses of each Fund reviewing, among other things, such Fund’s gross management fees, net management fees and net expense ratios in absolute terms as well as compared to the fees and expenses of a comparable universe of funds provided by an independent fund data provider (the “Peer Universe”) and to a more focused subset of funds in the Peer Universe (the “Peer Group”) and any expense limitations.

The Independent Board Members further reviewed the methodology regarding the construction of the applicable Peer Universe and Peer Group. In reviewing the comparisons of fee and expense information, the Independent Board Members took into account that in certain instances various factors such as: the limited size and particular composition of the Peer Universe or Peer Group (including the inclusion of other Nuveen funds in the peer set); expense anomalies; changes in the funds comprising the Peer

Nuveen Investments 197

Annual Investment Management Agreement Approval Process

(Unaudited) (continued)

Universe or Peer Group from year to year; levels of reimbursement or fee waivers; and the timing of information used may impact the comparative data, thereby limiting somewhat the ability to make a meaningful comparison with peers.

In reviewing the fee schedule for a Fund, the Independent Board Members also considered the fund-level and complex-wide breakpoint schedules (described in further detail below) and any fee waivers and reimbursements provided by Nuveen. In reviewing fees and expenses, the Board considered the expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were approximately 6 to 10 basis points higher, in line if they were within approximately 5 basis points higher than the peer average and below if they were below the peer average of the Peer Group. In reviewing the reports, the Board noted that the majority of the Nuveen funds were at, close to or below their Peer Group or Peer Universe (if no separate Peer Group) average based on the net total expense ratio.

The Independent Board Members observed that the Global Fund, the Intermediate Government Fund, the Short Term Fund and the Strategic Income Fund had net management fees and net expense ratios (including fee waivers and expense reimbursements) below or in line with their peer averages. In addition, they noted that the Core Bond Fund, the Inflation Protected Fund and the High Income Fund had slightly higher or higher net management fees than their peer average, but a net expense ratio below or in line with the peer average, while the Core Plus Fund had a higher net management fee than its peer average and a slightly higher net expense ratio compared to its peer average. For the Core Plus Fund, however, the Board recognized that the management fee was reduced effective in May 2012 and was not fully reflected in the expense data.

Based on their review of the fee and expense information provided, the Independent Board Members determined that each Fund’s management fees were reasonable in light of the nature, extent and quality of services provided to the Fund.

2. Comparisons with the Fees of Other Clients

The Board recognized that all Nuveen funds have a sub-advisor (which, in the case of the Funds, is an affiliated sub-advisor), and therefore, the overall fund management fee can be divided into two components, the fee retained by the Advisor and the fee paid to the sub-advisor. In general terms, the fee to the Advisor reflects the administrative services it provides to support the funds, and while some administrative services may occur at the sub-advisor level, the fee generally reflects the portfolio management services provided by the sub-advisor. The Independent Board Members reviewed information regarding the nature of services provided by the Advisor, including through the Sub-Advisor, and the range of fees and average fee the Sub-Advisor assessed for such services to other clients. Such other clients include separately managed accounts (both retail and institutional accounts), foreign investment funds offered by Nuveen and funds that are not offered by Nuveen but are sub-advised by one of Nuveen’s investment management teams. In evaluating the comparisons of fees, the Independent Board Members noted that the fee rates charged to the Funds and other clients vary, among other things, because of the different services involved and the additional regulatory and compliance requirements associated with registered investment companies, such as the Funds. Accordingly, the Independent Board Members considered the differences in the product types, including, but not limited to, the services provided, the structure and operations, product distribution and costs thereof, portfolio investment policies, investor profiles, account sizes and regulatory requirements. The Independent Board Members noted, in particular, that the range of services provided to the Funds (as discussed above) is much more extensive than that provided to separately managed accounts. Many of the additional administrative services provided by the Advisor are not required for institutional clients. The Independent Board Members further noted that the management fee rates of the foreign funds advised by the Advisor may vary due to, among other things, differences in the client base, governing bodies, operational complexities and services covered by the management fee. Given the inherent differences in the various products, particularly the extensive services provided to the Funds, the Independent Board Members believe such facts justify the different levels of fees.

3. Profitability of Fund Advisers

In conjunction with their review of fees, the Independent Board Members also considered the profitability of Nuveen for its advisory activities and its financial condition. The Independent Board Members reviewed the revenues and expenses of Nuveen’s advisory activities for the last two calendar years, the allocation methodology used in preparing the profitability data and an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2012. The Independent Board Members noted this information supplemented the profitability information requested and received during the year to help keep them apprised of developments affecting profitability (such as changes in fee waivers and expense reimbursement commitments). In this regard, the Independent Board Members noted that they have an Independent Board Member serve as a point person to review and keep them apprised of changes to the profitability analysis and/or methodologies during the year. The Independent Board Members also considered Nuveen’s revenues for advisory activities, expenses, and profit margin compared to that of various unaffiliated management firms with comparable assets under management (based on asset size and asset composition).

In reviewing profitability, the Independent Board Members recognized the Advisor’s continued investment in its business to enhance its services, including capital improvements to investment technology, updated compliance systems, and additional personnel. In addition, in evaluating profitability, the Independent Board Members also recognized the subjective nature of determining profitability which may be affected by numerous factors including the allocation of expenses and that various allocation methodologies may each be reasonable but yield different results. Further, the Independent Board Members recognized

198 Nuveen Investments

the difficulties in making comparisons as the profitability of other advisers generally is not publicly available and the profitability information that is available for certain advisers or management firms may not be representative of the industry and may be affected by, among other things, the adviser’s particular business mix, capital costs, types of funds managed and expense allocations. Notwithstanding the foregoing, the Independent Board Members reviewed Nuveen’s methodology and assumptions for allocating expenses across product lines to determine profitability. Based on their review, the Independent Board Members concluded that the Advisor’s level of profitability for its advisory activities was reasonable in light of the services provided.

With respect to sub-advisors affiliated with Nuveen, including the Sub-Advisor, the Independent Board Members reviewed the sub-advisor’s revenues, expenses and profitability margins (pre- and post-tax) for its advisory activities and the methodology used for allocating expenses among the internal sub-advisors. Based on their review, the Independent Board Members were satisfied that the Sub-Advisor’s level of profitability was reasonable in light of the services provided.

In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser by the Funds as well as indirect benefits (such as soft dollar arrangements), if any, the Fund Adviser and its affiliates receive, or are expected to receive, that are directly attributable to the management of the Funds. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds. Based on their review of the overall fee arrangements of each Fund, the Independent Board Members determined that the advisory fees and expenses of the respective Fund were reasonable.

D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

With respect to economies of scale, the Independent Board Members have recognized the potential benefits resulting from the costs of a fund being spread over a larger asset base, although economies of scale are difficult to measure and predict with precision, particularly on a fund-by-fund basis. One method to help ensure the shareholders share in these benefits is to include breakpoints in the advisory fee schedule. Generally, management fees for funds in the Nuveen complex are comprised of a fund-level component and a complex-level component, subject to certain exceptions. Accordingly, the Independent Board Members reviewed and considered the applicable fund-level breakpoints in the advisory fee schedules that reduce advisory fees as asset levels increase.

In addition to fund-level advisory fee breakpoints, the Board also considered the Funds’ complex-wide fee arrangement. Pursuant to the complex-wide fee arrangement, the fees of the funds in the Nuveen complex are generally reduced as the assets in the fund complex reach certain levels. The complex-wide fee arrangement seeks to provide the benefits of economies of scale to fund shareholders when total fund complex assets increase, even if assets of a particular fund are unchanged or have decreased. The approach reflects the notion that some of Nuveen’s costs are attributable to services provided to all its funds in the complex and therefore all funds benefit if these costs are spread over a larger asset base. In addition, with the acquisition of the funds previously advised by FAF Advisors, Inc. at the end of 2010, the Board noted that a portion of such funds’ assets at the time of acquisition were deemed eligible to be included in the complex-wide fee calculation in order to deliver fee savings to shareholders in the combined complex and such funds were subject to differing complex-level fee rates.

Based on their review, the Independent Board Members concluded that the breakpoint schedules and complex-wide fee arrangement were acceptable and reflect economies of scale to be shared with shareholders when assets under management increase.

E. Indirect Benefits

In evaluating fees, the Independent Board Members received and considered information regarding potential “fall out” or ancillary benefits the respective Fund Adviser or its affiliates may receive as a result of its relationship with each Fund. In this regard, the Independent Board Members considered, among other things, any sales charges, distribution fees and shareholder services fees received and retained by the Funds’ principal underwriter, an affiliate of the Advisor, which includes fees received pursuant to any 12b-1 plan. The Independent Board Members, therefore, considered the 12b-1 fees retained by Nuveen during the last calendar year.

In addition to the above, the Independent Board Members considered whether the Fund Advisers received any benefits from soft dollar arrangements whereby a portion of the commissions paid by a Fund for brokerage may be used to acquire research that may be useful to the Fund Adviser in managing the assets of the Funds and other clients. The Funds’ portfolio transactions are determined by the Sub-Advisor. Accordingly, the Independent Board Members considered that the Sub-Advisor may benefit from its soft dollar arrangements pursuant to which it receives research from brokers that execute the Funds’ portfolio transactions. With respect to fixed income securities, however, the Board recognized that such securities generally trade on a principal basis that does not generate soft dollar credits. Nevertheless, the Sub-Advisor may also engage in soft dollar arrangements on behalf of other clients, and the Funds as well as the Sub-Advisor may benefit from the research or other services received. Similarly, the Board recognized that the research received pursuant to soft dollar arrangements by the Sub-Advisor may also benefit a Fund and shareholders to the extent the research enhances the ability of the Sub-Advisor to manage the Fund. The Independent Board Members noted that the Sub-Advisor’s profitability may be somewhat lower if it did not receive the research services pursuant to the soft dollar arrangements and had to acquire such services directly.

Based on their review, the Independent Board Members concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.

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Annual Investment Management Agreement Approval Process

(Unaudited) (continued)

F. Other Considerations

The Independent Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, unanimously concluded that the terms of each Advisory Agreement are fair and reasonable, that the respective Fund Adviser’s fees are reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.

200 Nuveen Investments

Glossary of Terms Used in this Report

Asset-Backed Securities (ABS): Securities whose value and income payments are derived from and collateralized by a specific pool of underlying assets. The pool of assets typically is a group of small and/or illiquid assets that may be difficult to sell individually. The underlying pools of asset-backed securities often include payments from credit cards, auto loans or mortgage loans.

Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or offer price and reinvested dividends and capital gains distributions, if any) over the time period being considered.

Barclays Aggregate Bond Index: An unmanaged index that includes all investment-grade, publicly issued, fixed-rate, dollar denominated, nonconvertible debt issues and commercial mortgage-backed securities with maturities of at least one year and out-standing par values of $150 million or more. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays Global Aggregate Unhedged Bond Index: An index that provides a broad-based measure of the global investment-grade fixed-rate debt markets. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays High Yield 2% Issuer Capped Index: An issuer-constrained version of the U.S. Corporate High-Yield Index that covers the U.S. dollar denominated, non-investment grade, fixed-rate, taxable corporate bond market. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays Intermediate Government Bond Index: An unmanaged index that includes all publicly issued, U.S. Treasury securities that have a remaining maturity of greater than or equal to 1 year and less than 10 years, are rated investment grade, and have $250 million or more of outstanding face value. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays Intermediate Government/Credit Bond Index: An unmanaged index that measures the performance of U.S. dollar denominated U.S. Treasuries, government-rated and investment grade U.S. corporate fixed-rate, non-convertible securities having $250 million or more of outstanding face value and a remaining maturity of greater than or equal to 1 year and less than 10 years. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays U.S. Corporative Investment Grade Bond Index: An unmanaged index considered representative of publicly issued, fixed-rate, nonconvertible, investment-grade debt securities. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays U.S. TIPs Index: An unmanaged index that includes all publicly issued, U.S. Treasury inflation-protected securities that have at least one year remaining to maturity, are rated investment grade, and have $250 million or more of outstanding face value. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Barclays 1-3 Year Government/Credit Bond Index: An unmanaged index that includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of between 1 and 3 years and are publicly issued. Index returns assume reinvestment of distributions, but do not include the effects of any applicable sales charges or management fees.

Commercial Mortgage-Backed Securities (CMBS): Commercial mortgage-backed securities are backed by cash flows of a mortgage or pool of mortgages on commercial real estate. CMBS generally are structured to provide protection to the senior class investors against potential losses on the underlying mortgage loans. CMBS are typically characterized by the following: i) loans on multi-family housing, non-residential property, ii) payments based on the amortization schedule of 25-30 years with a balloon payment due usually after 10 years, and iii) restrictions on prepayments.

Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s or bond Fund’s value to changes when market interest rates change. Generally, the longer a bond’s or Fund’s duration, the more the price of the bond or Fund will change as interest rates change.

Lipper High Yield Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper High Yield Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charge.

Lipper Intermediate Investment Grade Debt Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Intermediate Investment Grade Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Intermediate U.S. Government Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Intermediate U.S. Government Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Global Income Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Global Income Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Multi-Sector Income Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Multi-Sector Income Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Short Investment Grade Debt Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Short Investment Grade Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Inflation-Protected Bond Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Inflation-Protected Bond Funds Classification. The Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charge.

Mortgage-Backed Securities (MBS): Mortgage-backed securities (MBS) are bonds backed by pools of mortgages, usually with similar characteristics, and which return principal and interest in each payment. MBS are composed of residential mortgages (RMBS) or commercial mortgages (CMBS). RMBS are further divided into agency RMBS and non-agency RMBS, depending on the issuer.

Nuveen Investments 201

Glossary of Terms Used in this Report (continued)

Net Asset Value (NAV): The net market value of all securities held in a portfolio.

Net Asset Value (NAV) Per Share: The market value of one share of a mutual fund or closed-end fund. For a Fund, the NAV is calculated daily by taking the Fund’s total assets (securities, cash, and accrued earnings), subtracting the Fund’s liabilities, and dividing by the number of shares outstanding.

Residential Mortgage-Backed Securities (RMBS): Residential mortgage-backed securities are securities the payments on which depend primarily on the cash flow from residential mortgage loans made to borrowers that are secured by residential real estate. RMBS consist of agency and non-agency RMBS. Agency RMBS have agency guarantees that assure investors that they will receive timely payment of interest and principal, regardless of delinquency or default rates on the underlying loans. Agency RMBS include securities issued by the Government National Mortgage Association, the

Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and other federal agencies, or issues guaranteed by them. Non-agency RMBS do not have agency guarantees. Non-agency RMBS have credit enhancement built into the structure to shield investors from borrower delinquencies. The spectrum of non-agency residential mortgage loans includes traditional jumbo loans (prime), alternative-A loans (Alt-A), and home equity loans (sub-prime).

Tax Equalization: The practice of treating a portion of the distribution made to a redeeming shareholder, which represents his proportionate part of undistributed net investment income and capital gain as a distribution for tax purposes. Such amounts are referred to as the equalization debits (or payments) and will be considered a distribution to the shareholder of net investment income and capital gain for calculation of the Fund’s dividends paid deduction.

202 Nuveen Investments

Additional Fund Information

Fund Manager

Nuveen Fund Advisors, LLC

333 West Wacker Drive

Chicago, IL 60606

Sub-Adviser

Nuveen Asset Management, LLC

333 West Wacker Drive

Chicago, IL 60606

Legal Counsel

Chapman and Cutler LLP

Chicago, IL

Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP

Chicago, IL

Custodian

State Street Bank & Trust Company

Boston, MA

U.S. Bank National Association

Milwaukee, WI

Transfer Agent and Shareholder Services

Boston Financial

Data Services

Nuveen Investor Services

P.O. Box 8530

Boston, MA 02266-8530

(800) 257-8787

Distribution Information: The following Fund hereby designates its percentages of dividends paid from net ordinary income as dividends qualifying for the 70% dividends received deduction (“DRD”) for corporations and its percentages as qualified dividend income (“QDI”) for individuals under Section 1 (h)(11) of the Internal Revenue Code as shown in the accompanying table. The actual qualified dividend income distributions will be reported to shareholders on Form 1099-DIV which will be sent to shareholders shortly after calendar year end.

Fund	% of DRD			% of QDI
High Income Bond		3.00	%		3.00	%

The following federal income tax information is provided with respect to the Funds’ distributions paid during the taxable year ended June 30, 2013: Nuveen Core Bond Fund, Nuveen Core Plus Bond Fund, Nuveen Global Total Return Bond Fund, Nuveen High Income Bond Fund, Nuveen Inflation Protected Securities Fund, Nuveen Intermediate Government Bond Fund, Nuveen Short Term Bond Fund and Nuveen Strategic Income Fund hereby designate approximately 89.33%, 93.48%, 36.53%, 68.71%, 100.00%, 100.00%, 100.00% and 100.00%, respectively, (or the maximum amount eligible) of ordinary income distributions as Interest-Related Dividends as defined in Internal Revenue Code Section 871(k) for the taxable year ended June 30, 2013.

Quarterly Form N-Q Portfolio of Investments Information

Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC’s Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC -0330 for room hours and operation.

Nuveen Funds’ Proxy Voting Information

You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787 or on Nuveen’s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.

The Financial Industry Regulatory Authority (FINRA) provides a Public Disclosure Program which supplies certain information regarding the disciplinary history of FINRA members and their associated persons in response to either telephone inquiries at (800) 289-9999 or written inquiries at www.finra.org. FINRA also provides an investor brochure that includes information describing the Public Disclosure Program.

Nuveen Investments 203

Nuveen Investments:

Serving Investors for Generations

Since 1898, financial advisors and their clients have relied on Nuveen Investments to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality equity and fixed-income solutions designed to be integral components of a well-diversified core portfolio.

Focused on meeting investor needs.

Nuveen Investments provides high-quality investment services designed to help secure the longterm goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates-Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $216 billion as of June 30, 2013.

Find out how we can help you.

To learn more about how the products and services of Nuveen Investments may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen Investments, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money.

Learn more about Nuveen Funds at: www.nuveen.com/mf

Distributed by

Nuveen Securities, LLC

333 West Wacker Drive

Chicago, IL 60606

www.nuveen.com

MAN-FINC-0613D

ITEM 2. CODE OF ETHICS.

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx. (To view the code, click on Code of Conduct.)

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The registrant’s Board of Trustees determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial expert is Carole E. Stone, who is “independent” for purposes of Item 3 of Form N-CSR.

Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following tables show the amount of fees that PricewaterhouseCoopers LLP, the Trust’s auditor, billed to the Trust during the Trust’s last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PricewaterhouseCoopers LLP provided to the Trust, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Trust waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Trust during the fiscal year in which the services are provided; (B) the Trust did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.

The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee).

SERVICES THAT THE TRUST’S AUDITOR BILLED TO THE TRUST

Fiscal Year Ended June 30, 2013	Audit Fees Billed to Funds 1		Audit-Related Fees Billed to Funds 2		Tax Fees  Billed  to Funds 3		All Other Fees Billed to Funds 4
Fund Name
Nuveen Core Plus Bond Fund		39,707		0		4,644		0
Nuveen High Income Bond Fund		18,828		5,450		2,500		0
Nuveen Intermediate Government Bond Fund		37,079		0		2,500		0
Nuveen Inflation Protected Securities Fund		37,811		0		2,500		0
Nuveen Core Bond Fund		39,059		0		2,500		0
Nuveen Short Term Bond Fund		40,904		5,450		2,500		0
Nuveen Strategic Income Fund		39,786		5,450		4,643		0
Total	$	253,174	$	16,350	$	21,787	$	0

¹  “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed			Audit-Related Fees			Tax Fees			All Other Fees
	to Funds			Billed to Funds			Billed to Funds			Billed to Funds
Fund Name
Nuveen Core Plus Bond Fund		0	%		0	%		0	%		0	%
Nuveen High Income Bond Fund		0	%		0	%		0	%		0	%
Nuveen Intermediate Government Bond Fund		0	%		0	%		0	%		0	%
Nuveen Inflation Protected Securities Fund		0	%		0	%		0	%		0	%
Nuveen Core Bond Fund		0	%		0	%		0	%		0	%
Nuveen Short Term Bond Fund		0	%		0	%		0	%		0	%
Nuveen Strategic Income Fund		0	%		0	%		0	%		0	%
Fiscal Year Ended June 30, 2012	Audit Fees Billed to Funds 1			Audit-Related Fees Billed to Funds 2			Tax Fees Billed to Funds 3			All Other Fees Billed to Funds 4
Fund Name
Nuveen Core Plus Bond Fund		38,841			0			0			0
Nuveen High Income Bond Fund		17,335			1,667			1,500			0
Nuveen Intermediate Government Bond Fund		35,235			0			0			0
Nuveen Inflation Protected Securities Fund		35,617			0			0			0
Nuveen Core Bond Fund		37,792			0			0			0
Nuveen Short Term Bond Fund		38,557			1,667			0			0
Nuveen Strategic Income Fund		38,110			1,667			0			0
Total	$	241,487		$	5,001		$	1,500		$	0

¹  “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed			Audit-Related Fees			Tax Fees			All Other Fees
	to Funds			Billed to Funds			Billed to Funds			Billed to Funds
Fund Name
Nuveen Core Plus Bond Fund		0	%		0	%		0	%		0	%
Nuveen High Income Bond Fund		0	%		0	%		0	%		0	%
Nuveen Intermediate Government Bond Fund		0	%		0	%		0	%		0	%
Nuveen Inflation Protected Securities Fund		0	%		0	%		0	%		0	%
Nuveen Core Bond Fund		0	%		0	%		0	%		0	%
Nuveen Short Term Bond Fund		0	%		0	%		0	%		0	%
Nuveen Strategic Income Fund		0	%		0	%		0	%		0	%

	Audit-Related Fees			Tax Fees Billed to			All Other Fees
	Billed to Adviser and			Adviser and			Billed to Adviser
Fiscal Year Ended June 30, 2013	Affiliated Fund Service Providers			Affiliated Fund Service Providers			and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees			Tax Fees Billed to			All Other Fees
	Billed to Adviser and			Adviser and			Billed to Adviser
	Affiliated Fund			Affiliated Fund			and Affiliated Fund
	Service Providers			Service Providers			Service Providers
		0	%		0	%		0	%
	Audit-Related Fees			Tax Fees Billed to			All Other Fees
	Billed to Adviser and			Adviser and			Billed to Adviser
Fiscal Year Ended June 30, 2012	Affiliated Fund Service Providers			Affiliated Fund Service Providers			and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees			Tax Fees Billed to			All Other Fees
	Billed to Adviser and			Adviser and			Billed to Adviser
	Affiliated Fund			Affiliated Fund			and Affiliated Fund
	Service Providers			Service Providers			Service Providers
		0	%		0	%		0	%

			Total Non-Audit Fees
			billed to Adviser and
			Affiliated Fund Service		Total Non-Audit Fees
			Providers (engagements		billed to Adviser and
			related directly to the		Affiliated Fund Service
Fiscal Year Ended June 30, 2013	Total Non-Audit Fees Billed to Trust		operations and financial reporting of the Trust)		Providers (all other engagements)		Total
Fund Name
Nuveen Core Plus Bond Fund		4,644		0		0		4,644
Nuveen High Income Bond Fund		2,500		0		0		2,500
Nuveen Intermediate Government Bond Fund		2,500		0		0		2,500
Nuveen Inflation Protected Securities Fund		2,500		0		0		2,500
Nuveen Core Bond Fund		2,500		0		0		2,500
Nuveen Short Term Bond Fund		2,500		0		0		2,500
Nuveen Strategic Income Fund		4,643		0		0		4,643
Total	$	21,787	$	0	$	0	$	21,787

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

			Total Non-Audit Fees
			billed to Adviser and
			Affiliated Fund Service		Total Non-Audit Fees
			Providers (engagements		billed to Adviser and
			related directly to the		Affiliated Fund Service
Fiscal Year Ended June 30, 2012	Total Non-Audit Fees Billed to Trust		operations and financial reporting of the Trust)		Providers (all other engagements)		Total
Fund Name
Nuveen Core Plus Bond Fund		0		0		0		0
Nuveen High Income Bond Fund		1,500		0		0		1,500
Nuveen Intermediate Government Bond Fund		0		0		0		0
Nuveen Inflation Protected Securities Fund		0		0		0		0
Nuveen Core Bond Fund		0		0		0		0
Nuveen Short Term Bond Fund		0		0		0		0
Nuveen Strategic Income Fund		0		0		0		0
Total	$	1,500	$	0	$	0	$	1,500

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Trust by the Trust’s independent accountants and (ii) all audit and non-audit services to be performed by the Trust’s independent accountants for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Trust. Regarding tax and research projects conducted by the independent accountants for the Trust and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chairman for his verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to this registrant.

ITEM 6. SCHEDULE OF INVESTMENTS.

a) See Portfolio of Investments in Item 1.

b) Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END

MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this registrant.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this registrant.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to this registrant.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees implemented after the registrant last provided disclosure in response to this Item.

ITEM 11. 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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (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 second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 12. EXHIBITS.

File the exhibits listed below as part of this Form.

(a)(1)	Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on registrant’s website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx and there were no amendments during the period covered by this report. (To view the code, click on Code of Conduct.)
(a)(2)	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)) in the exact form set forth below: See EX-99.CERT attached hereto.
(a)(3)	Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(b)	If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an Exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registration specifically incorporates it by reference: See EX-99.906 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 Investment Funds, Inc.

By (Signature and Title)	/s/ Kevin J. McCarthy
	Kevin J. McCarthy
	Vice President and Secretary

Date: September 5, 2013

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

By (Signature and Title)	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Chief Administrative Officer
	(principal executive officer)

Date: September 5, 2013

By (Signature and Title)	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller
	(principal financial officer)

Date: September 5, 2013