N-CSR

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)

Mark J. Czarniecki

Vice President and Secretary

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, 2021

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

30 June

2021

Nuveen Income Funds

Fund Name	Class A	Class C	Class R3	Class R6	Class I
Nuveen Credit Income Fund	FJSIX	FCSIX	FANSX	—	FJSYX
Nuveen Strategic Income Fund	FCDDX	FCBCX	FABSX	FSFRX	FCBYX

As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ annual and semi-annual shareholder reports will not be sent to you by mail unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Funds’ website (www.nuveen.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

You may elect to receive shareholder reports and other communications from the Funds electronically at any time by contacting the financial intermediary (such as a broker-dealer or bank) through which you hold your Fund shares or, if you are a direct investor, by enrolling at www.nuveen.com/e-reports.

You may elect to receive all future shareholder reports in paper free of charge at any time by contacting your financial intermediary or, if you are a direct investor, by calling 800-257-8787 and selecting option #1. Your election to receive reports in paper will apply to all funds held in your account with your financial intermediary or, if you are a direct investor, to all your directly held Nuveen Funds and any other directly held funds within the same group of related investment companies.

Annual Report

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Table

of Contents

Chair’s Letter to Shareholders	4
Portfolio Managers’ Comments	5
Risk Considerations and Dividend Information	9
Fund Performance and Expense Ratios	11
Yields	16
Holding Summaries	17
Expense Examples	19
Report of Independent Registered Public Accounting Firm	21
Portfolios of Investments	22
Statement of Assets and Liabilities	63
Statement of Operations	65
Statement of Changes in Net Assets	66
Financial Highlights	68
Notes to Financial Statements	72
Additional Fund Information	84
Glossary of Terms Used in this Report	85
Annual Investment Management Agreement Approval Process	87
Liquidity Risk Management Program	94
Directors and Officers	95

3

Chair’s Letter to Shareholders

Dear Shareholders,

More than a year has passed since the World Health Organization declared COVID-19 a global pandemic in March 2020, resulting in a year marked by a global economic downturn, financial market turbulence and some immeasurable losses of life. Although the health crisis persists, with the widespread distribution of vaccines in the U.S. and extraordinary economic interventions by governments and central banks around the world, we collectively look forward to what our “new normal” might be.

Global economic activity has continued to rebound, driving both gross domestic product growth and inflation higher, especially in the U.S. Vaccinations have enabled a further reopening of economies while governments and central banks have taken extraordinary measures to support the recoveries. To extend relief programs enacted earlier in the crisis, the U.S. government passed $900 billion in aid to individuals and businesses in late December 2020. Another $1.9 trillion relief package was signed into law in March 2021, providing extended unemployment benefits, direct payments to individuals and families, assistance to state and local municipalities, grants to education and public health, and other support. Currently, Congress is working on an infrastructure spending plan, although its final shape and whether it passes remains to be seen. The U.S. Federal Reserve (Fed) and other central banks around the world have upgraded their economic forecasts but remain committed to sustaining the recovery by maintaining accommodative monetary conditions. However, as economies have reopened, the surge in consumer demand has outpaced supply chain capacity, resulting in a jump in inflation indicators in recent months. Whether inflation persists is a subject of debate by economists and some market observers, while the Fed and other central banks believe it to be more transitory.

While the markets’ longer-term outlook has brightened, we expect intermittent bouts of volatility to continue. Markets are closely monitoring central bank signals, particularly if inflation remains elevated, as a sooner-than-expected shift to monetary tightening could slow the economic recovery. Additionally, COVID-19 cases are rising again, as more virulent strains such as the delta variant have spread, both case counts and hospitalizations are rising, and vaccination rollouts have been uneven around the country and around the world. The recovery hinges on controlling the virus, and estimates vary considerably on when economic activity might be fully restored and what level of public inoculation would be sufficient to contain the spread of the virus, particularly in light of new variants. On the political front, the Biden administration’s full policy agenda and the potential for Congressional gridlock remain to be seen, either of which could cause investment outlooks to shift. Short-term market fluctuations can provide your Fund opportunities to invest in new ideas as well as upgrade existing positioning while providing long-term value for shareholders. For more than 120 years, the careful consideration of risk and reward has guided Nuveen’s focus on delivering long-term results to our shareholders.

If you have concerns about what’s coming next, it may be an opportune time to assess your portfolio. We encourage you to review your time horizon, risk tolerance and investment goals with your financial professional.

On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.

Sincerely,

Terence J. Toth

Chair of the Board

August 23, 2021

4

Portfolio Managers’

Comments

Nuveen Credit Income Fund

Nuveen Strategic Income Fund

These Funds feature portfolio management by Nuveen Asset Management, LLC (NAM), an affiliate of Nuveen Fund Advisors, LLC, the Funds’ investment adviser. Anders S. Persson, CFA, Jean C. Lin, CFA, Karen L. Bubeck, CFA, Aashh K. Parekh, CFA, and Brenda A. Langenfeld, CFA, are portfolio managers for the Nuveen Credit Income Bond Fund. Portfolio managers for the Nuveen Strategic Income Fund include Douglas M. Baker, CFA, Kevin Lorenz, CFA, Katherine Renfrew and Nicholas Travaglino.

Here the Fund portfolio management teams discusses economic and market conditions, key investment strategies and the Fund’s performance for the twelve-month reporting period June 30, 2021.

What factors affected the U.S. economy and the global stock markets during the twelve-month annual reporting period ended June 30, 2021?

The U.S. economy rebounded more quickly than expected from the deep downturn caused by the COVID-19 crisis and containment measures, but gross domestic product (GDP) shrank 3.5% in 2020 compared to 2019’s annual level. U.S. GDP growth picked up pace in the first half of 2021, expanding at an annualized rate of 6.3% in the first quarter and 6.5% in the second quarter according to the Bureau of Economic Analysis “advance” estimate, up from 4.5% (annualized) in the fourth quarter of 2020.

Consumer spending, the largest driver of the economy, rebounded markedly from the steep declines early in the health crisis. Although the momentum slowed toward the end of 2020 amid a resurgence of COVID-19 infections, consumer demand resumed in 2021 as vaccination rates increased and lockdown restrictions eased, eligible Americans received another government stimulus check and the job market continued to improve. By June 2021, the U.S. unemployment rate had fallen to 5.9%, a significant improvement from the pandemic peak of 14.8% in April 2020, according to the Bureau of Labor Statistics. The overall trend of inflation accelerated, largely due to rising energy prices and the improving economy. Notably, the higher annual inflation rate in June 2021 was also the result of the comparison to the year before, when retail prices fell sharply after the first lockdowns were imposed in March 2020.

With the onset of the COVID-19 crisis, the Fed enacted an array of emergency measures in March 2020 to stabilize the financial system and support the markets. These included cutting its main interest rate to near zero, offering lending programs to aid small and large companies and engaging in expanded bond purchases, known as quantitative easing. In August 2020, the Fed announced a change in its inflation targeting policy, moving from a program of absolute targeting to an average inflation targeting policy. Under this regime, the Fed will tolerate the inflation rate temporarily overshooting the target rate to offset periods of below target inflation, so that inflation averages a 2% target rate over time. In their meetings throughout the first half of 2021, Fed officials continued to signal that accommodative monetary policy measures would stay in place, although they moved their expectations for the first rate hike forward to 2023 at their June 2021 meeting. Nevertheless, the Fed maintained its view that recently higher inflation readings were transitory and the economic recovery remained far from its goals.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

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.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. 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. Holdings designated N/R are not rated by these national rating agencies.

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

5

Portfolio Managers’ Comments (continued)

The federal government also intervened with historic relief measures, starting with three aid packages in March and April 2020. These included $2 trillion allocated across direct payments to individuals, an expansion of unemployment insurance, loans to large and small businesses, funding to hospitals and health agencies and support to state and local governments, and more than $100 billion in funding to employers offering paid leave. In December 2020, the government enacted a $900 billion relief package extending some of these programs, and followed in March 2021 with another $1.9 trillion in aid to provide support to individuals and families, small businesses, state and local governments, education and public health/vaccination. The Biden administration has proposed another $2 trillion stimulus plan focused on infrastructure and jobs, but it was expected to face legislative hurdles. (In August 2021, after the close of this reporting period, the Senate approved a $1 trillion infrastructure and jobs plan, which will move to the House for consideration.)

Nuveen Credit Income Fund

What key strategies were used to manage the Fund during the twelve-month reporting period ended June 30, 2021 and how did these strategies influence performance?

The Fund’s investment objective is to provide total return with an emphasis on a high level of current income. Previously, the Fund had an objective of providing high income that blends below investment grade bonds from U.S. and non-U.S. issuers with other income-producing investments to expand return opportunities and increase diversification while seeking a high level of current income.

At the beginning of the reporting period, the Fund transitioned to its new strategy of offering exposure to an expanded investment universe outside of high yield corporate bonds. The Fund’s repurposed goal is to provide further diversification and optimize its risk-adjusted return profile in line with the updated objective. Accordingly, the Fund added exposure to various sectors including securitized debt, asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS), emerging markets (EM) debt, preferred and contingent capital (CoCo) securities and senior loans. The record level of refinancings in the credit markets during the reporting period gave ample opportunity to find attractive investments in these areas. To subsidize the purchases, the Fund reduced its exposure to high yield corporate bonds. The repositioning caused the Fund’s duration (interest rate sensitivity) to decrease and end the reporting period in line with that of the benchmark.

The Fund ended the reporting period positioned midway along its risk spectrum with around 45% allocated to high yield bonds and the remainder to a diversified mix of other spread sectors. Due to historically tight spreads, the Fund focused on finding attractive income since yield and carry will likely drive returns for the rest of 2021. Late in the reporting period, the Fund took some profits in EM debt and reallocated into slightly higher quality, shorter duration securities and also added to attractive values in CMBS. The Fund increased senior loan exposure due to their floating-rate coupon structure and attractive relative value versus other asset classes, including high yield bonds. Within its high yield bond allocation, the Fund reduced its exposure to CCC-rated while it increased exposure to B and BB-rated credits. At the end of the reporting period, the Fund’s key positions away from high yield bonds remained in EM debt, senior loans, preferred/CoCo securities and ABS. The Fund’s duration was marginally shorter than the index and its portfolio remained positioned to benefit from a steeper yield curve. At the end of the reporting period, the Fund’s key positions away from high yield bonds remained in EM debt, senior loans, preferred/CoCo securities and ABS. The Fund’s duration was marginally shorter than the index and its portfolio remained positioned to benefit from a steeper yield curve.

How did the Fund perform during the twelve-month reporting period ended June 30, 2021?

The Nuveen Credit Income Fund’s Class A Shares at NAV outperformed the Bloomberg Barclays High Yield 2% Issuer Capped Index for the twelve-month reporting period. For the purposes of this Performance Commentary, references to relative performance are in comparison to the Bloomberg Barclays High Yield 2% Issuer Capped Index.

During the reporting period, security selection within the high yield corporate sector was the largest relative contributor, particularly in industrial sub-sectors such as consumer cyclicals (including services), consumer non-cyclicals (health care) and capital goods (aerospace/defense and building materials). These sectors benefited from the reopening of the broader economy. A notable contributor was Staples, which benefited from a surge in its online business as more people worked from home. Allocation decisions within the high yield corporate bond sector also contributed to relative results, including an underweight to communications (cable satellite and media entertainment), which underperformed the benchmark.

6

An allocation to preferred securities and CoCo securities also aided relative performance. The preferred securities sector benefited from another round of Fed stress tests in June 2021, which again confirmed the balance sheet strength of U.S. banks. The CoCo market was also supported as European and United Kingdom banks maintained more than sufficient capital, had access to unlimited liquidity and continued to benefit from a supportive regulatory, monetary and fiscal backdrop. These results, coupled with strong U.S. first quarter 2021 bank earnings, positive investor flows into preferred securities strategies, and generally positive economic data, led to meaningfully tighter credit spreads across the preferred and CoCo securities markets during the reporting period.

In terms of detractors, the Fund’s allocation to senior loans hindered results for the reporting period. Although this sector produced a strong return, it couldn’t keep up with the risk-on rally, particularly in the high yield corporate bond sector, which returned 15.3% as measured by the Bloomberg Barclays High Yield 2% Issuer Capped Bond Index.

Nuveen Strategic Income Fund

What key strategies were used to manage the Fund during the twelve-month reporting period ended June 30, 2021 and how did these strategies influence performance?

The Fund provides investors with a broadly flexible, multi-sector portfolio that seeks to deliver total return. The team actively manages a diversified portfolio of investment grade and high yield debt securities from U.S. and non-U.S. issuers.

During the reporting period, the Fund maintained its lower quality bias and increased its allocation to below investment grade credit to greater than 45% in order to capture additional income and spread tightening. To subsidize that increase, the Fund used a combination of cash inflows and a rotation out of fully-valued high grade sectors such as investment grade corporate bonds and MBS. The Fund also reduced exposure to lower quality MBS after spreads tightened well past levels available in similarly rated securities from corporate issuers of senior loans and preferred securities. The Fund began increasing exposure to EM sovereign and corporate issuers as the global recovery took hold. At the end of the reporting period, the Fund’s key overweights remained in below investment grade bonds, senior loans and ABS, with a significant allocation to preferred and CoCo issues. Conversely, the Fund had minimal exposure to U.S. Treasuries and a significant underweight to MBS versus the index. The Fund also shortened its duration further versus its benchmark during the reporting period, while maintaining its positioning to benefit from a steeper yield curve.

How did the Fund perform during the twelve-month reporting period ended June 30, 2021?

The Nuveen Strategic Income Fund’s Class A Shares at NAV outperformed the Bloomberg Barclays Aggregate Bond Index for the twelve-month reporting period. For the purposes of this Performance Commentary, references to relative performance are in comparison to the Bloomberg Barclays Aggregate Bond Index.

The Fund outperformed its benchmark mainly due to its significant allocations to below investment grade securities across various fixed income sectors, including high yield corporate bonds, senior loans, preferred and contingent capital (CoCo) securities and lower quality mortgage-backed securities (MBS). The faster-than-expected economic recovery from the COVID-19 crisis and investors’ ongoing quest for yield in the low interest rate environment drove spreads tighter across these segments, leading to strong excess returns over U.S. Treasuries. Given the emphasis on spread sectors, which performed strongly, the Fund had few areas that detracted from relative performance.

Security selection within investment grade sectors was also a strong contributor to relative performance, particularly among structured products. The Fund benefited from healthy out-of-benchmark allocations to and tactical acquisitions of esoteric asset-backed securities (ABS), which were backed by more unique assets such as aircraft securitizations and franchise deals, as well as hotel and office commercial mortgage-backed securities (CMBS). Both segments experienced significant spread tightening as the U.S. and global economies reopened following COVID-19 crisis shutdowns. Furthermore, the Fund’s investments in the emerging markets sector that were either commodity driven or benefited from sound macroeconomic policy frameworks significantly outperformed the benchmark.

7

Portfolio Managers’ Comments (continued)

Interest rate positioning also aided the Fund’s relative performance. The combination of faster-than-expected economic expansion and greater COVID-19 vaccine pushed intermediate and longer maturity U.S. Treasury yields significantly higher (and prices lower) over the reporting period. At the same time, interest rates at the front end of the curve stayed anchored near 0% as a result of the Fed’s commitment to remain on hold. The Fund was consistently positioned with a slightly shorter duration relative to its benchmark during the reporting period, which lessened its interest rate sensitivity. The Fund also benefited from its positioning due to a steepening yield curve over the reporting period.

The Fund used U.S. Treasury futures as part of an overall portfolio construction strategy to manage portfolio duration and yield curve exposure and selected foreign bond futures to actively manage exposure to those markets. These positions had a negligible impact on performance during the reporting period. In addition, the Fund used high yield CDX swaps to hedge a portion of its high yield credit risk exposure. The effect of these activities on performance was negligible during the reporting period.

8

Risk Considerations and Dividend Information

Risk Considerations

Nuveen Credit Income Fund

Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved. Credit risk arises from an issuer’s ability to make interest and principal payments when due, as well as the prices of bonds declining when an issuer’s credit quality is expected to deteriorate. The Fund’s income could decline during periods of falling interest rates. Investments in below investment grade or high yield securities are subject to liquidity risk and heightened credit risk. This Fund is subject to the risks of investing in loans, including senior loans and secured and unsecured junior loans. Unsecured loans are not backed by a security interest in collateral and involve a higher degree of risk than secured loans. Loans are also subject to settlement risk due to the lack of established settlement standards or remedies for failure to settle, and may have limited restrictive covenants on borrowers, which may weaken the Fund’s ability to access collateral securing the loan and enforce its rights as a lender. The Fund may also invest in a pool of loans through collateralized loan obligations (CLOs). In addition to the risks associated with loans and high yield securities, CLOs are subject to the risk that distributions from the collateral may not be adequate to make interest or other payments owed to the Fund. Asset-backed and mortgage-backed securities are subject to additional risks such as prepayment risk, liquidity risk, default risk and adverse economic developments. Preferred securities are subordinate to bonds and other debt instruments in a company’s capital structure and therefore are subject to greater credit risk. Certain types of preferred, hybrid or debt securities with special loss absorption provisions, such as contingent capital securities (CoCos), may be or become so subordinated that they present risks equivalent to, or in some cases even greater than, the same company’s common stock. Non-U.S. investments involve risks such as currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These risks are magnified in emerging markets. These and other risk considerations, such as call, derivatives, illiquid investments, interest rate, market, and valuation risks, are described in detail in the Fund’s prospectus.

Nuveen Strategic Income Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, 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. The Fund gains additional exposure to currency rates, and therefore to the risk of currency fluctuation, through investment in foreign currency contracts. The risks of foreign investments are magnified in emerging markets. Asset-backed and mortgage-backed securities are subject to additional risks such as prepayment risk, liquidity risk, default risk and adverse economic developments.

Dividend Information

Each Fund seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit each 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 income actually earned by the Fund during the period. Distributions to shareholders are determined on a tax basis, which may differ from amounts recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund would report a negative undistributed net ordinary income. Refer to Note 6 – Income Tax Information for additional information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period.

All monthly dividends paid by each Fund during the current reporting period were paid from net investment income. If a portion of the Fund’s monthly distributions is sourced or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders will be notified of those sources. For financial reporting purposes, the per share amounts of each Fund’s distributions for the reporting period are presented in this report’s Financial Highlights. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 – Income Tax Information within the Notes to Financial Statements of this report.

9

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10

Fund Performance

and Expense Ratios

The Fund Performance and Expense Ratios for each Fund are shown within this section of the report.

Fund Performance

Returns quoted represent past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown.

Total returns for a period of less than one year are not annualized (i.e. cumulative returns). Since inception returns are shown for share classes that have less than 10-years of performance. Returns at net asset value (NAV) would be lower if the sales charge were included. Returns assume reinvestment of dividends and capital gains. For performance current to the most recent month-end visit nuveen.com or call (800) 257-8787.

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 fee waivers and/or expense reimbursements by the investment adviser during the periods presented. If any such waivers and/or reimbursements had not been in place, returns would have been reduced. See Notes to Financial Statements, Note 7—Management Fees and Other Transactions with Affiliates for more information.

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

Comparative index and Lipper return information is provided for Class A Shares at NAV only.

Expense Ratios

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

11

Fund Performance and Expense Ratios (continued)

Nuveen Credit Income Fund

Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance and Expense Ratios

			Total Returns as of June 30, 2021*
	Inception Date		Average Annual						Expense Ratios**
			1-Year		5-Year		10-Year		Gross		Net
Class A Shares at NAV		8/30/01		16.01%		6.82%		5.08%		1.16%		1.04%
Class A Shares at maximum Offering Price		8/30/01		10.56%		5.79%		4.57%		—		—
Bloomberg Barclays High Yield 2% Issuer Capped Index		—		15.34%		7.47%		6.65%		—		—
Lipper Global High Yield Funds Classification Average		—		15.32%		6.13%		5.40%		—		—
Class C Shares		8/30/01		15.03%		6.03%		4.48%		1.91%		1.79%
Class I Shares		8/30/01		16.40%		7.08%		5.37%		0.90%		0.79%

* 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) of 1%, 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 total returns. Class C Shares automatically convert to Class A Shares ten years after purchase (effective March 1, 2021, eight years after purchase). Returns for periods longer than eight years for Class C Shares reflect the performance of Class A Shares after the deemed eight-year conversion to Class A Shares within such periods. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

** The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse expenses through July 31, 2023 so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities (including prime broker fees and charges on short sales), dividend expense on securities sold short and extraordinary expenses) do not exceed 0.75% of the average daily net assets of any class of Fund shares. The expense limitation may be terminated or modified prior to that date only with the approval of the Board of Directors of the Fund.

12

Growth of an Assumed $10,000 Investment as of June 30, 2021 – 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.

13

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 section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance and Expense Ratios

			Total Returns as of June 30, 2021*
	Inception Date		Average Annual						Expense Ratios**
			1-Year		5-Year		10-Year		Gross		Net
Class A Shares at NAV		2/01/00		8.25%		5.25%		4.79%		0.97%		0.84%
Class A Shares at maximum Offering Price		2/01/00		3.69%		4.33%		4.33%		—		—
Bloomberg Barclays U.S. Aggregate Bond Index		—		(0.33)%		3.03%		3.39%		—		—
Lipper Multi-Sector Income Funds Classification Average		—		8.90%		4.70%		4.43%		—		—
Class C Shares		2/01/00		7.39%		4.46%		4.17%		1.72%		1.59%
Class I Shares		2/01/00		8.51%		5.51%		5.04%		0.72%		0.59%

Total Returns as of June 30, 2021*

Inception Date

Average Annual

Expense Ratios**

1-Year

5-Year

Since Inception

Gross

Net

Class R6 Shares

1/20/15

8.59%

5.61%

4.51%

0.63%

0.50%

* 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) of 1%, 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 total returns. Class C Shares automatically convert to Class A Shares ten years after purchase (effective March 1, 2021, eight years after purchase). Returns for periods longer than eight years for Class C Shares reflect the performance of Class A Shares after the deemed eight-year conversion to Class A Shares within such periods. Class R6 Shares have no sales charge and are available only to certain limited categories of investors as described in the prospectus. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

** The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse expenses through July 31, 2023 so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities (including prime broker fees and charges on short sales), dividend expense on securities sold short and extraordinary expenses) do not exceed 0.59% of the average daily net assets of any class of Fund shares. However, because Class R6 shares are not subject to sub-transfer agent and similar fees, total annual operating expenses for the Class R6 shares will be less than the expense limitation. The expense limitation may be terminated or modified prior to that date only with the approval of the Board of Directors of the Fund.

14

Growth of an Assumed $10,000 Investment as of June 30, 2021 – 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.

15

Yields    as of June 30, 2021

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. Subsidized yields reflect fee waivers and/or expense reimbursements from the investment adviser during the period. If any such waivers and/or reimbursements had not been in place, yields would have been reduced. Unsubsidized yields do not reflect waivers and/or reimbursements from the investment adviser during the period. If the fund did not receive a fee waiver/expense reimbursement during the period under its most recent agreement, subsidized and unsubsidized yields will be equal. Refer to the Notes to Financial Statements, Note 7 – Management Fees and Other Transactions with Affiliates for further details on the investment adviser’s most recent agreement with the Fund to waive fees and/or reimburse expenses, where applicable. 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 Credit Income Fund

	Share Class
	Class A¹		Class C		Class I
Dividend Yield		4.16%		3.64%		4.59%
SEC 30-Day Yield-Subsidized		3.88%		3.32%		4.32%
SEC 30-Day Yield-Unsubsidized		3.83%		3.28%		4.27%

Nuveen Strategic Income Fund

	Share Class
	Class A¹		Class C		Class R6		Class I
Dividend Yield		2.56%		1.93%		3.03%		2.94%
SEC 30-Day Yield-Subsidized		2.40%		1.76%		2.90%		2.76%
SEC 30-Day Yield-Unsubsidized		2.36%		1.61%		2.75%		2.61%

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.

16

Holding Summaries    as of June 30, 2021

This data relates to the securities held in each Fund’s portfolio of investments as of the end of this reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. 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. Holdings designated N/R are not rated by these national rating agencies.

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

Nuveen Credit Income Fund

Fund Allocation

(% of net assets)

Corporate Bonds	56.3%
Asset-Backed and Mortgage-Backed Securities	18.8%
Variable Rate Senior Loan Interests	12.1%
Sovereign Debt	4.8%
Contingent Capital Securities	3.0%
$1,000 Par (or similar) Institutional Preferred	2.1%
$25 Par (or similar) Retail Preferred	1.1%
Common Stocks	0.0%
Investments Purchased with Collateral from Securities Lending	2.7%
Repurchase Agreements	2.9%
Other Assets Less Liabilities	(3.8)%
Net Assets	100%

Corporate Bonds: Industries

(% of total corporate bonds)

Oil, Gas & Consumable Fuels	16.9%
Hotels, Restaurants & Leisure	6.5%
Health Care Providers & Services	6.5%
Media	5.6%
Commercial Services & Supplies	5.0%
Airlines	3.8%
Real Estate Management & Development	3.7%
Electric Utilities	3.6%
Specialty Retail	3.4%
Auto Components	3.1%
Equity Real Estate Investment Trust	3.0%
Metals & Mining	2.8%
Software	2.6%
Diversified Financial Services	2.6%
Diversified Telecommunication Services	2.3%
Aerospace & Defense	1.9%
Personal Products	1.7%
Insurance	1.7%
Electronic Equipment, Instruments & Components	1.6%
Automobiles	1.6%
Other1	20.1%
Total	100%

Portfolio Credit Quality

(% of total long-term fixed-income investments)

A	2.1 %
BBB	6.1%
BB or Lower	83.1%
N/R (not rated)	8.7%
Total	100%

1 See Portfolio of Investments for details on “other” Corporate Bonds: Industries.

17

Holding Summaries as of June 30, 2021 (continued)

Nuveen Strategic Income Fund

Fund Allocation

(% of net assets)

Corporate Bonds	40.2%
Asset-Backed and Mortgage- Backed Securities	29.6%
Variable Rate Senior Loan Interests	9.0%
$1,000 Par (or similar) Institutional Preferred	7.8%
Sovereign Debt	5.1%
Contingent Capital Securities	4.2%
Municipal Bonds	0.8%
$25 Par (or similar) Retail Preferred	0.8%
U.S. Government and Agency Obligations	0.1%
Investments Purchased with Collateral from Securities Lending	1.1%
Repurchase Agreements	3.8%
Other Assets Less Liabilities	(2.5)%
Net Assets	100%

Corporate Bonds: Industries

(% of total corporate bonds)

Banks	17.2%
Oil, Gas & Consumable Fuels	15.4%
Capital Markets	6.2%
Diversified Financial Services	4.7%
Equity Real Estate Investment Trust	4.6%
Diversified Telecommunication Services	4.5%
Electric Utilities	3.8%
Chemicals	3.5%
Media	3.3%
Communications Equipment	2.8%
Specialty Retail	2.6%
Hotels, Restaurants & Leisure	2.4%
Aerospace & Defense	1.9%
Automobiles	1.7%
Health Care Providers & Services	1.5%
Independent Power & Renewable Electricity Producers	1.5%
Commercial Services & Supplies	1.4%
Pharmaceuticals	1.4%
Construction Materials	1.4%
Other1	18.2%
Total	100%

Portfolio Credit Quality

(% of total long-term fixed-income investments)

AAA	7.0%
AA	5.2%
A	10.6%
BBB	35.5%
BB or Lower	35.4%
N/R (not rated)	6.3%
Total	100%

1 See Portfolio of Investments for details on “other” Corporate Bonds: Industries.

18

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 ended June 30, 2021.

The beginning of the period for the funds is January 1, 2021.

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 each 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 tables 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 Credit Income Fund

	Share Class
	A Shares		C Shares		I Shares
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,037.65	$	1,033.90	$	1,038.77
Expenses Incurred During the Period	$	5.05	$	8.83	$	3.79
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,019.84	$	1,016.12	$	1,021.08
Expenses Incurred During the Period	$	5.01	$	8.75	$	3.76

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 1.00%, 1.75% and 0.75% 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).

19

Expense Examples (continued)

Nuveen Strategic Income Fund

	Share Class
	A Shares		C Shares		R6 Shares		I Shares
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,011.08	$	1,007.33	$	1,011.99	$	1,011.49
Expenses Incurred During the Period	$	4.19	$	7.91	$	2.49	$	2.94
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,020.63	$	1,016.91	$	1,022.32	$	1,021.87
Expenses Incurred During the Period	$	4.21	$	7.95	$	2.51	$	2.96

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.84%, 1.59%, 0.50% and 0.59% for Classes A, C, R6 and I, respectively, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

20

Report of Independent Registered

Public Accounting Firm

To the Board of Directors of Nuveen Investment Funds, Inc. and Shareholders of

Nuveen Credit Income Fund and Nuveen Strategic Income Fund

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of Nuveen Credit Income Fund and Nuveen Strategic Income Fund (two of the funds constituting Nuveen Investment Funds, Inc., hereafter collectively referred to as the “Funds”) as of June 30, 2021, the related statements of operations for the year ended June 30, 2021, the statements of changes in net assets for each of the two years in the period ended June 30, 2021, including the related notes, and the financial highlights for each of the five years in the period ended June 30, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of June 30, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended June 30, 2021 and each of the financial highlights for each of the five years in the period ended June 30, 2021, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of June 30, 2021 by correspondence with the custodian, brokers and agent banks; when replies were not received from brokers or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

August 26, 2021

We have served as the auditor of one or more investment companies in Nuveen Funds since 2002.

21

Nuveen Credit Income Fund

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		LONG-TERM INVESTMENTS – 98.2%
		CORPORATE BONDS – 56.3%
		Aerospace & Defense – 1.1%
$	430	Bombardier Inc, 144A		7.125%		6/15/26		CCC	$	450,210
	950	Rolls-Royce PLC, 144A		5.750%		10/15/27		BB–		1,046,415
	500	TransDigm Inc, 144A		4.625%		1/15/29		B–		500,175
	1,880	Total Aerospace & Defense								1,996,800
		Airlines – 2.1%
	937	Air Canada 2020-2 Class A Pass Through Trust, 144A		5.250%		4/01/29		A		1,016,234
	911	Air Canada 2020-2 Class B Pass Through Trust, 144A		9.000%		10/01/25		BBB–		1,011,117
	296	British Airways 2020-1 Class A Pass Through Trust, 144A		4.250%		11/15/32		A+		318,912
	576	British Airways 2020-1 Class B Pass Through Trust, 144A		8.375%		11/15/28		BBB		665,289
	857	United Airlines 2020-1 Class A Pass-Through Trust		5.875%		10/15/27		A		950,340
	3,577	Total Airlines								3,961,892
		Auto Components – 1.7%
	200	Alta Equipment Group Inc, 144A		5.625%		4/15/26		B–		205,234
	295	Goodyear Tire & Rubber Co, 144A		5.000%		7/15/29		BB–		308,865
	1,000	Goodyear Tire & Rubber Co, 144A		5.250%		7/15/31		BB–		1,045,000
	750	Iochpe-Maxion Austria GmbH / Maxion Wheels de Mexico S de RL de CV, 144A		5.000%		5/07/28		BB–		761,325
	100	NESCO Holdings II Inc, 144A		5.500%		4/15/29		B		104,375
	850	Tupy Overseas SA, 144A		4.500%		2/16/31		BB		846,821
	3,195	Total Auto Components								3,271,620
		Automobiles – 0.9%
	1,185	Ford Motor Credit Co LLC		3.625%		6/17/31		BB+		1,207,965
	420	PM General Purchaser LLC, 144A		9.500%		10/01/28		B+		442,437
	1,605	Total Automobiles								1,650,402
		Banks – 0.8%
	750	Akbank TAS, 144A, (3)		5.125%		3/31/25		B+		753,750
	750	Turkiye Vakiflar Bankasi TAO, 144A		6.500%		1/08/26		B+		767,100
	1,500	Total Banks								1,520,850
		Beverages – 0.7%
	1,375	Primo Water Holdings Inc, 144A		4.375%		4/30/29		B1		1,375,000
		Building Products – 0.4%
	475	Cemex SAB de CV, 144A		5.125%		N/A (10)		B		490,295
	285	SRS Distribution Inc, 144A		4.625%		7/01/28		B–		291,412
	760	Total Building Products								781,707
		Capital Markets – 0.5%
	1,000	Banco BTG Pactual SA/Cayman Islands, 144A		2.750%		1/11/26		Ba2		974,500

22

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Chemicals – 0.8%
$	675	Rayonier AM Products Inc, 144A		7.625%		1/15/26		B1	$	703,687
	750	Tronox Inc, 144A		4.625%		3/15/29		B		757,485
	1,425	Total Chemicals								1,461,172
		Commercial Services & Supplies – 2.8%
	750	Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl, 144A		4.625%		6/01/28		BB–		750,587
	650	GFL Environmental Inc, 144A		4.750%		6/15/29		B–		674,895
	565	Madison IAQ LLC, 144A		4.125%		6/30/28		B1		570,650
	125	Madison IAQ LLC, 144A		5.875%		6/30/29		Caa1		127,188
	500	Pitney Bowes Inc, 144A		6.875%		3/15/27		N/R		528,125
	500	Pitney Bowes Inc, 144A		7.250%		3/15/29		BB		531,250
	525	Prime Security Services Borrower LLC / Prime Finance Inc, 144A		3.375%		8/31/27		BB–		509,250
	1,450	Prime Security Services Borrower LLC / Prime Finance Inc, 144A		6.250%		1/15/28		B–		1,542,437
	5,065	Total Commercial Services & Supplies								5,234,382
		Communications Equipment – 0.6%
	425	Liquid Telecommunications Financing Plc, 144A		5.500%		9/04/26		B1		435,179
	750	Vodafone Group PLC		4.125%		6/04/81		BB+		748,875
	1,175	Total Communications Equipment								1,184,054
		Construction & Engineering – 0.2%
	400	ATP Tower Holdings LLC / Andean Tower Partners Colombia SAS / Andean Telecom Par, 144A, (3)		4.050%		4/27/26		BB+		411,200
		Construction Materials – 0.4%
	700	Volcan Cia Minera SAA, 144A		4.375%		2/11/26		BB		693,000
		Distributors – 0.4%
	675	BCPE Empire Holdings Inc, 144A		7.625%		5/01/27		CCC		691,268
		Diversified Financial Services – 1.5%
	1,180	OneMain Finance Corp		3.500%		1/15/27		BB–		1,188,850
	250	Putnam RE PTE Ltd, 144A, (1-Month U.S. Treasury Bill reference rate + 5.500% spread), (4)		5.541%		6/07/24		N/R		249,525
	300	Sanders Re II Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 3.500% spread), (4)		3.541%		4/07/25		N/R		299,550
	250	Sanders Re Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 5.500% spread), (4)		5.541%		4/07/22		N/R		218,750
	750	Ursa Re II Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 6.250% spread), (4)		6.291%		12/07/23		N/R		773,550
	2,730	Total Diversified Financial Services								2,730,225
		Diversified Telecommunication Services – 1.3%
	750	Avaya Inc, 144A		6.125%		9/15/28		BB–		802,725
	595	Switch Ltd, 144A		4.125%		6/15/29		BB		610,619
	965	Vmed O2 UK Financing I PLC, 144A, (WI/DD)		4.750%		7/15/31		BB–		979,475
	2,310	Total Diversified Telecommunication Services								2,392,819

23

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Electric Utilities – 2.0%
$	600	Edison International		5.375%		N/A (10)		BB+	$	604,380
	750	Eskom Holdings SOC Ltd, 144A		7.125%		2/11/25		CCC+		791,250
	750	Inkia Energy Ltd, 144A		5.875%		11/09/27		BB		773,445
	750	Pampa Energia SA, Reg S		7.500%		1/24/27		B–		670,650
	750	ReNew Wind Energy AP2 / ReNew Power Pvt Ltd other 9 Subsidiaries, Reg S		4.500%		7/14/28		Ba3		762,462
	140	TerraForm Power Operating LLC, 144A		4.750%		1/15/30		BB		143,384
	3,740	Total Electric Utilities								3,745,571
		Electronic Equipment, Instruments & Components – 0.9%
	1,650	Imola Merger Corp, 144A		4.750%		5/15/29		BB		1,697,437
		Energy Equipment & Services – 0.8%
	575	Archrock Partners LP / Archrock Partners Finance Corp, 144A		6.250%		4/01/28		B+		600,248
	775	Genesis Energy LP / Genesis Energy Finance Corp		8.000%		1/15/27		B+		814,234
	2,704	Metro Exploration Holding Corp		0.000%		12/29/69		N/R		271
	447	Metro Exploration Holding Corp, (5)		0.000%		12/29/69		N/R		5
	4,501	Total Energy Equipment & Services								1,414,758
		Equity Real Estate Investment Trust – 1.7%
	750	MPH Acquisition Holdings LLC, 144A, (3)		5.750%		11/01/28		B–		753,682
	375	Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 144A		4.875%		5/15/29		B+		387,919
	280	RLJ Lodging Trust LP, 144A		3.750%		7/01/26		BB-		282,800
	1,150	Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC, 144A		4.750%		4/15/28		BB+		1,147,125
	590	XHR LP, 144A		4.875%		6/01/29		B		609,175
	3,145	Total Equity Real Estate Investment Trust								3,180,701
		Food & Staples Retailing – 0.2%
	350	United Natural Foods Inc, 144A		6.750%		10/15/28		B3		376,656
		Food Products – 0.7%
	525	Amaggi Luxembourg International Sarl, 144A, (3)		5.250%		1/28/28		BB		550,468
	775	Ulker Biskuvi Sanayi AS, 144A		6.950%		10/30/25		BB–		840,596
	1,300	Total Food Products								1,391,064
		Gas Utilities – 0.1%
	125	Suburban Propane Partners LP/Suburban Energy Finance Corp, 144A		5.000%		6/01/31		BB–		127,969
		Health Care Providers & Services – 3.7%
	555	AHP Health Partners Inc, 144A		5.750%		7/15/29		CCC+		562,631
	1,000	CHS/Community Health Systems Inc, 144A		6.875%		4/15/29		CCC		1,046,470
	1,000	Global Medical Response Inc, 144A		6.500%		10/01/25		B		1,028,750
	775	LifePoint Health Inc, 144A		5.375%		1/15/29		CCC+		755,625
	1,250	Team Health Holdings Inc, 144A		6.375%		2/01/25		CCC		1,188,825
	2,125	Tenet Healthcare Corp, 144A		6.125%		10/01/28		B		2,264,485
	6,705	Total Health Care Providers & Services								6,846,786

24

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Hotels, Restaurants & Leisure – 3.7%
$	450	Boyd Gaming Corp, 144A		4.750%		6/15/31		B	$	466,875
	1,900	Carnival Corp, 144A		5.750%		3/01/27		B+		1,990,250
	1,110	Cinemark USA Inc, 144A		5.250%		7/15/28		B		1,137,750
	420	Constellation Merger Sub Inc, 144A		8.500%		9/15/25		Caa3		413,326
	620	Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 144A		5.000%		6/01/29		B2		633,950
	425	Marriott Ownership Resorts Inc, 144A		4.500%		6/15/29		B1		430,844
	550	NCL Corp Ltd, 144A		5.875%		3/15/26		B–		576,125
	425	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp, 144A		5.250%		5/15/27		BB–		456,492
	750	Wynn Macau Ltd, 144A		5.625%		8/26/28		BB–		781,875
	6,650	Total Hotels, Restaurants & Leisure								6,887,487
		Household Durables – 0.2%
	325	WASH Multifamily Acquisition Inc, 144A		5.750%		4/15/26		B–		339,333
		Independent Power & Renewable Electricity Producers – 0.6%
	750	Greenko Dutch BV, 144A		3.850%		3/29/26		Ba1		767,250
	400	Investment Energy Resources Ltd, 144A		6.250%		4/26/29		BB–		432,500
	1,150	Total Independent Power & Renewable Electricity Producers								1,199,750
		Insurance – 0.9%
	700	Acrisure LLC / Acrisure Finance Inc, 144A		4.250%		2/15/29		B		691,250
	500	First Coast Re III Pte Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 6.000% spread), (4)		6.041%		4/07/25		N/R		500,400
	550	Residential Reinsurance 2020 Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 6.510% spread), (4)		6.551%		12/06/24		N/R		557,150
	1,750	Total Insurance								1,748,800
		IT Services – 0.3%
	500	Ahead DB Holdings LLC, 144A		6.625%		5/01/28		CCC+		517,270
		Leisure Products – 0.4%
	775	Academy Ltd, 144A		6.000%		11/15/27		B+		828,281
		Marine – 0.4%
	750	Hidrovias International Finance SARL, 144A, (3)		4.950%		2/08/31		BB		762,094
		Media – 3.1%
	950	Altice Financing SA, 144A		5.000%		1/15/28		B		931,162
	835	Clear Channel Outdoor Holdings Inc, 144A		7.500%		6/01/29		CCC		864,506
	775	DISH DBS Corp, 144A		5.125%		6/01/29		B2		765,258
	750	Getty Images Inc, 144A		9.750%		3/01/27		CCC+		804,375
	945	iHeartCommunications Inc		8.375%		5/01/27		CCC+		1,012,331
	425	LCPR Senior Secured Financing DAC, 144A		5.125%		7/15/29		BB+		439,344
	500	Radiate Holdco LLC / Radiate Finance Inc, 144A		6.500%		9/15/28		CCC+		525,325
	500	Univision Communications Inc, 144A		4.500%		5/01/29		B1		503,750
	5,680	Total Media								5,846,051

25

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Metals & Mining – 1.6%
$	700	First Quantum Minerals Ltd, 144A		7.500%		4/01/25		B	$	726,250
	750	Indika Energy Capital IV Pte Ltd, 144A		8.250%		10/22/25		Ba3		796,425
	560	Joseph T Ryerson & Son Inc, 144A		8.500%		8/01/28		B		621,600
	250	Taseko Mines Ltd, 144A		7.000%		2/15/26		B–		260,625
	500	Warrior Met Coal Inc, 144A, (3)		8.000%		11/01/24		BB		507,500
	2,760	Total Metals & Mining								2,912,400
		Mortgage Real Estate Investment Trust – 0.3%
	565	Starwood Property Trust Inc, 144A, (WI/DD)		3.625%		7/15/26		Ba3		569,238
		Multiline Retail – 0.4%
	750	JSM Global Sarl, 144A		4.750%		10/20/30		Ba1		777,855
		Oil, Gas & Consumable Fuels – 9.5%
	665	Antero Midstream Partners LP / Antero Midstream Finance Corp, 144A		5.375%		6/15/29		BB–		693,262
	439	Antero Resources Corp, 144A		8.375%		7/15/26		BB–		499,363
	925	Ascent Resources Utica Holdings LLC / ARU Finance Corp, 144A		5.875%		6/30/29		B		925,000
	1,140	Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp, 144A		5.625%		5/01/27		BB–		1,169,925
	180	DT Midstream Inc, 144A		4.125%		6/15/29		BB+		182,759
	150	DT Midstream Inc, 144A		4.375%		6/15/31		BB+		153,269
	150	EnLink Midstream LLC, 144A		5.625%		1/15/28		BB+		158,459
	800	EQM Midstream Partners LP, 144A		6.500%		7/01/27		BB		892,000
	220	Geopark Ltd, 144A		6.500%		9/21/24		B+		226,877
	250	Geopark Ltd, 144A, (3)		5.500%		1/17/27		B+		252,503
	200	Hilcorp Energy I LP / Hilcorp Finance Co, 144A		5.750%		2/01/29		BB–		208,500
	175	Hilcorp Energy I LP / Hilcorp Finance Co, 144A		6.000%		2/01/31		BB–		185,500
	750	Hunt Oil Co of Peru LLC Sucursal Del Peru, 144A		6.375%		6/01/28		BBB		791,250
	500	Kosmos Energy Ltd, 144A, (3)		7.500%		3/01/28		B+		493,750
	675	MEG Energy Corp, 144A		5.875%		2/01/29		BB–		703,687
	815	Murphy Oil Corp		5.875%		12/01/27		BB+		850,615
	700	New Fortress Energy Inc, 144A		6.500%		9/30/26		BB–		715,260
	350	NGL Energy Operating LLC / NGL Energy Finance Corp, 144A		7.500%		2/01/26		BB–		367,500
	1,000	Occidental Petroleum Corp		8.500%		7/15/27		Ba2		1,259,200
	900	Occidental Petroleum Corp		8.875%		7/15/30		Ba2		1,203,651
	375	OQ SAOC, 144A		5.125%		5/06/28		BB–		376,899
	175	PBF Holding Co LLC / PBF Finance Corp, 144A, (3)		9.250%		5/15/25		BB		176,293
	750	Peru LNG Srl, 144A		5.375%		3/22/30		BB–		646,875
	965	Saka Energi Indonesia PT, 144A		4.450%		5/05/24		B+		914,337
	750	SierraCol Energy Andina LLC, 144A		6.000%		6/15/28		B1		759,150
	500	SM Energy Co		5.625%		6/01/25		B		495,000
	120	SM Energy Co, (3)		6.500%		7/15/28		B		123,300
	800	Southwestern Energy Co		7.500%		4/01/26		BB		847,000
	520	SunCoke Energy Inc, 144A		4.875%		6/30/29		BB		519,350

26

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Oil, Gas & Consumable Fuels (continued)
$	225	Sunoco LP / Sunoco Finance Corp, 144A		4.500%		5/15/29		BB	$	228,938
	750	USA Compression Partners LP / USA Compression Finance Corp		6.875%		9/01/27		BB–		801,210
	16,914	Total Oil, Gas & Consumable Fuels								17,820,682
		Personal Products – 1.0%
	1,325	Coty Inc, 144A		5.000%		4/15/26		B		1,343,523
	450	Natura Cosmeticos SA, 144A		4.125%		5/03/28		BB		461,250
	1,775	Total Personal Products								1,804,773
		Pharmaceuticals – 0.8%
	650	Bausch Health Cos Inc, 144A		4.875%		6/01/28		BB		665,275
	350	Endo Luxembourg Finance Co I Sarl / Endo US Inc, 144A		6.125%		4/01/29		B		343,000
	300	Organon & Co, 144A		4.125%		4/30/28		BB		305,940
	200	Organon & Co, 144A		5.125%		4/30/31		BB–		206,040
	1,500	Total Pharmaceuticals								1,520,255
		Real Estate Management & Development – 2.1%
	750	Agile Group Holdings Ltd, Reg S		5.500%		5/17/26		BB–		725,950
	750	Arabian Centres Sukuk II Ltd, 144A		5.625%		10/07/26		BB+		796,665
	475	Howard Hughes Corp, 144A		4.125%		2/01/29		BB		475,009
	550	Kennedy-Wilson Inc		4.750%		3/01/29		BB		566,500
	575	Kennedy-Wilson Inc		5.000%		3/01/31		BB		591,531
	750	Logan Group Co Ltd, Reg S		4.500%		1/13/28		BB		726,436
	3,850	Total Real Estate Management & Development								3,882,091
		Software – 1.5%
	470	Clarivate Science Holdings Corp, 144A		3.875%		6/30/28		B1		474,282
	1,715	Elastic NV, 144A		4.125%		7/15/29		B+		1,715,000
	600	Rocket Software Inc, 144A		6.500%		2/15/29		CCC		595,368
	2,785	Total Software								2,784,650
		Specialty Retail – 1.9%
	600	Ferrellgas LP / Ferrellgas Finance Corp, 144A		5.375%		4/01/26		B–		594,750
	675	Ferrellgas LP / Ferrellgas Finance Corp, 144A		5.875%		4/01/29		B–		666,562
	800	LCM Investments Holdings II LLC, 144A		4.875%		5/01/29		BB–		820,000
	475	Magic Mergeco Inc, 144A		5.250%		5/01/28		Ba3		487,317
	1,000	Staples Inc, 144A		7.500%		4/15/26		B		1,035,735
	3,550	Total Specialty Retail								3,604,364
		Technology Hardware, Storage & Peripherals – 0.6%
	500	Diebold Nixdorf Inc, (3)		8.500%		4/15/24		CCC		511,875
	500	Diebold Nixdorf Inc, 144A		9.375%		7/15/25		B–		554,375
	1,000	Total Technology Hardware, Storage & Peripherals								1,066,250
		Trading Companies & Distributors – 0.3%
	500	Air Lease Corp, (3)		4.650%		N/A (10)		BB+		518,125

27

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Wireless Telecommunication Services – 0.4%
$	750	Millicom International Cellular SA, 144A		4.500%		4/27/31		BB+	$	776,250
$	106,882	Total Corporate Bonds (cost $104,293,615)								105,277,832
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 18.8%
$	1,250	Affirm Asset Securitization Trust 2021-A, 144A		5.650%		8/15/25		N/R	$	1,264,365
	500	Aimco CLO 11 Ltd, 144A, (3-Month LIBOR reference rate + 7.250% spread), (4)		7.434%		10/15/31		BB–		500,458
	250	Aimco CLO 12 Ltd, 144A, (3-Month LIBOR reference rate + 6.750% spread), (4)		6.976%		1/17/32		BB–		249,384
	1,000	Alen 2021-ACEN Mortgage Trust, 144A, (1-Month LIBOR reference rate + 4.000% spread), (4)		4.073%		4/15/34		BB–		1,008,288
	750	Avis Budget Rental Car Funding AESOP LLC, 144A		4.950%		3/20/25		Baa2		809,640
	1,000	Battalion CLO VIII Ltd, 144A, (3-Month LIBOR reference rate + 6.750% spread), (4)		6.940%		7/18/30		Ba2		992,143
	1,000	Benchmark 2020-B18 Mortgage Trust, 144A		4.139%		7/15/53		B–		1,014,319
	3	Carvana Auto Receivables Trust, 144A		0.000%		5/10/28		N/R		1,229,100
	887	Castlelake Aircraft Structured Trust 2021-1, 144A		6.656%		1/15/46		Baa2		941,394
	625	CIFC Funding 2020-II Ltd, 144A, (3-Month LIBOR reference rate + 7.635% spread), (4)		7.823%		8/24/32		BB–		627,536
	625	CIFC Funding 2020-II Ltd, 144A, (3-Month LIBOR reference rate + 4.250% spread), (4)		4.438%		8/24/32		BBB–		627,381
	1,000	COMM 2014-CCRE15 Mortgage Trust, 144A		4.865%		2/10/47		Baa3		1,042,461
	1,000	COMM 2014-CCRE19 Mortgage Trust, 144A		4.865%		8/10/47		BBB–		989,661
	1,000	COMM 2014-UBS3 Mortgage Trust, 144A		4.927%		6/10/47		N/R		1,010,473
	485	COMM 2015-CCRE25 Mortgage Trust		3.932%		8/10/48		BB		456,768
	200	COMM 2019-GC44 Mortgage Trust, 144A		2.500%		8/15/57		BBB		177,814
	20,300	DOLP Trust 2021-NYC, 144A, (I/O)		0.665%		5/10/41		A–		1,007,830
	2,252	Freddie Mac Multifamily Structured Pass Through Certificates, (I/O)		2.802%		10/25/55		N/R		474,469
	100	Freddie Mac STACR Remic Trust 2020-DNA2, 144A, (1-Month LIBOR reference rate + 2.500% spread), (4)		2.592%		2/25/50		B		100,247
	300	Freddie Mac Structured Agency Credit Risk Debt Notes, 144A, (SOFR30A reference rate + 4.000% spread), (4)		4.018%		11/25/50		B2		313,948
	1,000	GS Mortgage Securities Corp Trust 2017-SLP, 144A		4.744%		10/10/32		B		997,506
	230	GS Mortgage Securities Trust 2019-GC40, 144A		3.668%		7/10/52		BB–		234,233
	180	GS Mortgage Securities Trust 2019-GC40, 144A		3.668%		7/10/52		B–		179,981
	555	HIN Timeshare Trust 2020-A, 144A		5.500%		10/09/39		BB		577,374
	713	HIN Timeshare Trust 2020-A, 144A		6.500%		10/09/39		B		732,089
	800	JPMBB Commercial Mortgage Securities Trust 2014-C22		4.705%		9/15/47		BBB		791,054
	500	JPMBB Commercial Mortgage Securities Trust 2015-C29		4.337%		5/15/48		A–		494,857
	1,000	JPMCC Commercial Mortgage Securities Trust 2017-JP7, 144A		4.545%		9/15/50		BBB		1,015,771
	1,000	MAPS 2021-1 Trust, 144A		5.437%		6/15/46		Ba1		999,564
	1,700	Mosaic Solar Loan Trust 2020-1, 144A		0.000%		4/20/46		N/R		1,445,000
	575	Mosaic Solar Loan Trust 2020-2, 144A		5.420%		8/20/46		N/R		591,175

28

Principal Amount (000)		Description (1)					Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	576	MVW 2020-1 LLC, 144A						7.140%		10/20/37		BB	$	631,170
	1,000	Neuberger Berman CLO XVI-S Ltd, 144A, (3-Month LIBOR reference rate + 8.290% spread), (4)						1.000%		4/15/34		B–		973,209
	500	Neuberger Berman Loan Advisers CLO 35 Ltd, 144A, (3-Month LIBOR reference rate + 7.000% spread), (4)						7.190%		1/19/33		BB–		501,568
	1,000	Oportun Funding XIV LLC, 144A						5.400%		3/08/28		N/R		999,997
	750	Oportun Issuance Trust 2021-B, 144A						5.410%		5/08/31		N/R		751,677
	1,000	Palmer Square CLO 2019-1 Ltd, 144A, (3-Month LIBOR reference rate + 8.500% spread), (4)						8.654%		11/14/32		B–		992,436
	250	Purchasing Power Funding 2021-A LLC, 144A						4.370%		10/15/25		N/R		249,795
	1,000	Regional Management Issuance Trust 2021-1, 144A						5.070%		3/17/31		BB–		992,057
	820	Sierra Timeshare 2020-2 Receivables Funding LLC, 144A						6.590%		7/20/37		BB		866,458
	1,000	SLG Office Trust 2021-OVA, 144A						2.851%		7/15/41		N/R		931,360
	500	TCW CLO 2019-1 AMR Ltd, 144A, (3-Month LIBOR reference rate + 6.750% spread), (4)						6.906%		2/15/29		BB–		500,008
	750	Thayer Park CLO Ltd, 144A, (3-Month LIBOR reference rate + 8.870% spread), (4)						1.000%		4/20/34		B–		720,056
	961	Vivint Solar Financing V LLC, 144A						7.370%		4/30/48		N/R		1,020,134
	1,000	VNDO Mortgage Trust, Series 2016-350P, 144A						4.033%		1/10/35		BB–		975,091
	1,135	VR Funding LLC, 144A						6.420%		11/15/50		N/R		1,144,938
$	55,022	Total Asset-Backed and Mortgage-Backed Securities (cost $34,450,865)												35,146,237
Principal Amount (000)		Description (1)	Coupon (6)		Reference Rate (6)		Spread (6)		Maturity (7)		Ratings (2)		Value
		VARIABLE RATE SENIOR LOAN INTERESTS – 12.1% (6)
		Airlines – 0.5%
$	500	SkyMiles IP Ltd., Term Loan B		4.750%		3-Month LIBOR		3.750%		10/20/27		Baa1	$	528,783
	499	United Airlines, Inc., Term Loan B		4.500%		3-Month LIBOR		3.750%		4/21/28		Ba1		505,989
	999	Total Airlines												1,034,772
		Auto Components – 0.0%
	100	Truck Hero, Inc., Term Loan B		4.500%		1-Month LIBOR		3.750%		2/24/28		B2		99,894
		Beverages – 0.3%
	500	City Brewing Company, LLC, Term Loan		4.250%		3-Month LIBOR		3.500%		4/05/28		B+		503,125
		Commercial Services & Supplies – 1.6%
	374	Amentum Government Services Holdings LLC, Term Loan B		5.500%		3-Month LIBOR		4.750%		1/31/27		B1		378,271
	219	Gopher Resource, LLC, Term Loan, First Lien		4.250%		1-Month LIBOR		3.250%		1/28/25		B		196,565
	672	PAE Holding Corporation, Term Loan B		5.250%		1-Month LIBOR		4.500%		10/19/27		B		674,563
	1,538	Spin Holdco Inc., Term Loan, (DD1)		4.750%		3-Month LIBOR		4.000%		3/04/28		B–		1,542,405
	199	TMK Hawk Parent Corp., Term Loan, First Lien		3.595%		1-Month LIBOR		3.500%		8/30/24		CC		161,163
	3,002	Total Commercial Services & Supplies												2,952,967
		Construction & Engineering – 0.3%
	500	Aegion Corporation, Term Loan		5.500%		3-Month LIBOR		4.750%		5/17/28		B		506,250

29

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon (6)		Reference Rate (6)		Spread (6)		Maturity (7)		Ratings (2)		Value
		Containers & Packaging – 0.1%
$	137	Graham Packaging Company Inc., Term Loan		3.750%		1-Month LIBOR		3.000%		8/04/27		B1	$	136,849
		Diversified Financial Services – 0.3%
	569	IG Investment Holdings, LLC, Term Loan, First Lien		4.750%		3-Month LIBOR		3.750%		5/23/25		B2		570,551
		Food & Staples Retailing – 0.3%
	496	Shearer’s Foods, Inc., Term Loan		4.250%		3-Month LIBOR		3.500%		8/01/27		B2		497,288
		Health Care Providers & Services – 0.8%
	150	eResearchTechnology, Inc., Term Loan, First Lien		5.500%		1-Month LIBOR		4.500%		2/04/27		B2		150,488
	950	Onex TSG Intermediate Corp., Term Loan B		5.500%		3-Month LIBOR		4.750%		2/26/28		B		958,165
	373	US Radiology Specialists, Inc., Term Loan		5.647%		3-Month LIBOR		5.500%		12/15/27		B–		375,923
	1,473	Total Health Care Providers & Services												1,484,576
		Hotels, Restaurants & Leisure – 1.2%
	1,000	ClubCorp Holdings, Inc., Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		B–		963,010
	1,244	Life Time Fitness Inc, Term Loan B		5.750%		3-Month LIBOR		4.750%		12/15/24		B–		1,251,523
	2,244	Total Hotels, Restaurants & Leisure												2,214,533
		Insurance – 0.3%
	16	OneDigital Borrower LLC, Delayed Draw Term Loan, (8)		5.250%		3-Month LIBOR		5.250%		10/29/27		N/R		15,709
	483	OneDigital Borrower LLC, Term Loan		5.250%		3-Month LIBOR		4.500%		10/29/27		N/R		485,783
	499	Total Insurance												501,492
		Internet & Direct Marketing Retail – 0.2%
	474	CNT Holdings I Corp, Term Loan		4.500%		3-Month LIBOR		3.750%		11/08/27		B		474,590
		IT Services – 1.0%
	496	Ahead Data Blue, LLC, Term Loan B		4.500%		2-Month LIBOR		3.750%		10/16/27		B+		497,570
	500	McAfee, LLC, Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		BB–		500,438
	862	Syniverse Holdings, Inc., Term Loan, First Lien		6.000%		3-Month LIBOR		5.000%		3/09/23		CCC+		855,528
	1,858	Total IT Services												1,853,536
		Machinery – 0.1%
	248	Blount International Inc., Term Loan B		4.750%		1-Month LIBOR		3.750%		4/12/23		B2		249,174
		Media – 0.1%
	124	Radiate Holdco, LLC, Term Loan		4.250%		1-Month LIBOR		3.500%		9/25/26		B1		124,645
		Oil, Gas & Consumable Fuels – 0.2%
	325	DT Midstream Inc., Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		Baa2		325,957
		Pharmaceuticals – 1.2%
	716	Endo Luxembourg Finance Company I S.a r.l., Term Loan		5.750%		3-Month LIBOR		5.000%		3/25/28		B		692,659
	298	Gainwell Acquisition Corp., Term Loan B		4.750%		3-Month LIBOR		4.000%		10/01/27		BB–		299,993
	750	Jazz Financing Lux S.a.r.l., Term Loan		4.000%		1-Month LIBOR		3.500%		5/08/28		BB+		753,221
	500	Organon & Co, Term Loan		3.500%		3-Month LIBOR		3.000%		6/02/28		BB		501,147
	2,264	Total Pharmaceuticals												2,247,020

30

Principal Amount (000)		Description (1)	Coupon (6)		Reference Rate (6)		Spread (6)		Maturity (7)		Ratings (2)		Value
		Professional Services – 1.1%
$	744	Da Vinci Purchaser Corp., Term Loan		5.000%		3-Month LIBOR		4.000%		11/26/26		B	$	746,985
	983	Dun & Bradstreet Corporation, Term Loan		3.345%		1-Month LIBOR		3.250%		2/08/26		BB+		979,043
	386	Nielsen Consumer Inc., Term Loan B		4.080%		1-Month LIBOR		4.000%		3/05/28		BB		387,739
	2,113	Total Professional Services												2,113,767
		Real Estate Management & Development – 0.4%
	748	North American Lifting Holdings, Inc., Term Loan		7.500%		3-Month LIBOR		6.500%		10/16/24		B+		782,726
		Semiconductors & Semiconductor Equipment – 0.2%
	355	Ultra Clean Holdings, Inc, Term Loan B		3.854%		1-Month LIBOR		3.750%		8/27/25		B1		356,562
		Software – 0.6%
	350	Apttus Corporation, Term Loan		5.000%		3-Month LIBOR		4.250%		5/06/28		BB		352,537
	199	Camelot U.S. Acquisition 1 Co., Incremental Term Loan B		4.000%		1-Month LIBOR		3.000%		10/31/26		B1		199,394
	572	Sophia, L.P., Term Loan, First Lien		4.500%		3-Month LIBOR		3.750%		10/07/27		B		573,318
	1,121	Total Software												1,125,249
		Specialty Retail – 1.0%
	496	Great Outdoors Group, LLC, Term Loan B		5.000%		6-Month LIBOR		4.250%		3/05/28		B+		498,658
	467	Jo-Ann Stores, Inc., Term Loan		6.000%		1-Month LIBOR		5.000%		10/16/23		B		467,425
	825	PetSmart, Inc., Term Loan B		4.500%		3-Month LIBOR		3.750%		2/12/28		BB–		826,650
	175	WOOF Holdings, Inc, Term Loan, First Lien		4.500%		3-Month LIBOR		3.750%		12/21/27		B2		174,854
	1,963	Total Specialty Retail												1,967,587
		Wireless Telecommunication Services – 0.3%
	500	GOGO Intermediate Holdings LLC, Term Loan B		4.500%		3-Month LIBOR		3.750%		4/30/28		B–		499,875
$	22,612	Total Variable Rate Senior Loan Interests (cost $22,204,235)												22,622,985
Principal Amount (000)		Description (1)					Coupon		Maturity		Ratings (2)		Value
		SOVEREIGN DEBT – 4.8%
		Armenia – 0.4%
$	750	Republic of Armenia International Bond, 144A						3.600%		2/02/31		Ba3	$	707,820
		Barbados – 0.4%
	750	Barbados Government International Bond, 144A						6.500%		10/01/29		B–		757,500
		Dominican Republic – 0.4%
	750	Dominican Republic International Bond, 144A						4.875%		9/23/32		BB–		772,500
		Egypt – 0.3%
	600	Egypt Government International Bond, 144A						5.875%		2/16/31		B+		582,600
		El Salvador – 0.4%
	750	El Salvador Government International Bond, 144A, (3)						6.375%		1/18/27		B+		676,875
		Ghana – 0.4%
	750	Ghana Government International Bond, 144A						8.625%		4/07/34		B		773,655

31

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Jordan – 0.4%
$	750	Jordan Government International Bond, 144A, (3)		4.950%		7/07/25		BB–	$	778,275
		Mongolia – 0.4%
	750	Mongolia Government International Bond, 144A, (WI/DD)		3.500%		7/07/27		N/R		737,216
		Morocco – 0.4%
	750	Morocco Government International Bond, 144A		3.000%		12/15/32		BB+		723,330
		Oman – 0.4%
	750	Oman Government International Bond, 144A		6.750%		10/28/27		Ba3		840,000
		Tunisia – 0.5%
	1,000	Banque Centrale de Tunisie International Bond, 144A		5.750%		1/30/25		B		930,600
		Uzbekistan – 0.4%
	750	Republic of Uzbekistan Bond, 144A		3.700%		11/25/30		BB–		745,965
$	9,100	Total Sovereign Debt (cost $8,927,811)								9,026,336
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CONTINGENT CAPITAL SECURITIES – 3.0% (9)
		Banks – 2.6%
$	600	Banco Bilbao Vizcaya Argentaria SA		6.500%		N/A (10)		Ba2	$	653,250
	600	Banco Santander SA		4.750%		N/A (10)		Ba1		607,200
	410	Barclays PLC		6.125%		N/A (10)		BBB–		454,329
	600	Credit Suisse Group AG, 144A		5.250%		N/A (10)		BB+		634,500
	500	Danske Bank A/S, Reg S		4.375%		N/A (10)		BBB–		505,000
	700	Intesa Sanpaolo SpA, 144A		7.700%		N/A (10)		BB–		801,934
	400	Natwest Group PLC		8.000%		N/A (10)		BBB–		473,028
	300	Societe Generale SA, 144A		4.750%		N/A (10)		BB+		310,875
	400	UniCredit SpA, Reg S		8.000%		N/A (10)		B+		445,000
	4,510	Total Banks								4,885,116
		Capital Markets – 0.4%
	750	Deutsche Bank AG		6.000%		N/A (10)		BB–		792,188
$	5,260	Total Contingent Capital Securities (cost $5,338,067)								5,677,304
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 2.1%
		Automobiles – 0.4%
$	600	General Motors Financial Co Inc		5.700%		N/A (10)		BB+	$	672,000
		Consumer Finance – 0.3%
	500	Ally Financial Inc		4.700%		N/A (10)		BB–		517,850
		Energy Equipment & Services – 0.0%
	38	Sanjel Corporation, 144A, (5), (11)		7.500%		6/19/19		N/R		—

32

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Insurance – 0.6%
$	600	Assurant Inc		7.000%		3/27/48		BB+	$	692,922
	500	Enstar Finance LLC		5.750%		9/01/40		BB+		530,625
	1,100	Total Insurance								1,223,547
		Oil, Gas & Consumable Fuels – 0.3%
	525	Energy Transfer LP		6.500%		N/A (10)		BB		535,238
		Trading Companies & Distributors – 0.5%
	850	AerCap Global Aviation Trust, 144A		6.500%		6/15/45		BB+		907,375
$	3,613	Total $1,000 Par (or similar) Institutional Preferred (cost $3,534,620)								3,856,010
Shares		Description (1)	Coupon				Ratings (2)		Value
		$25 PAR (OR SIMILAR) RETAIL PREFERRED – 1.1%
		Banks – 0.4%
	25,000	Wintrust Financial Corp		6.875%				BB	$	706,500
		Food Products – 0.2%
	15,000	CHS Inc, (3)		6.750%				N/R		425,550
		Insurance – 0.1%
	12,000	Assurant Inc		5.250%				BB+		324,480
		Oil, Gas & Consumable Fuels – 0.4%
	30,000	NuStar Energy LP, (3)		8.500%				B2		727,500
		Total $25 Par (or similar) Retail Preferred (cost $1,901,179)								2,184,030
Shares		Description (1)							Value
		COMMON STOCKS – 0.0%
		Energy Equipment & Services – 0.0%
	6	Golden Close Maritime Corp Ltd, (5), (12)							$	—
		Road & Rail – 0.0%
	8,907	Jack Cooper Enterprises Inc, (5), (12)								89
		Total Common Stocks (cost $51)								89
		Total Long-Term Investments (cost $180,650,443)								183,790,823
Shares		Description (1)	Coupon						Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 2.7%
		MONEY MARKET FUNDS – 2.7%
	4,981,019	State Street Navigator Securities Lending Government Money Market Portfolio, (13)		0.020% (14)					$	4,981,019
		Total Investments Purchased with Collateral from Securities Lending (cost $4,981,019)								4,981,019

33

Nuveen Credit Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Value
		SHORT-TERM INVESTMENTS – 2.9%
		REPURCHASE AGREEMENTS – 2.9%
$	5,452	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $5,452,369, collateralized by $4,939,200, U.S. Treasury Notes, 0.125%, due 4/15/22, value $5,561,435		0.000%		7/01/21	$	5,452,369
		Total Short-Term Investments (cost $5,452,369)						5,452,369
		Total Investments (cost $191,083,831) – 103.8%						194,224,211
		Other Assets Less Liabilities – (3.8)%						(7,119,292)
		Net Assets – 100%					$	187,104,919

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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. Ratings are not covered by the report of independent registered public accounting firm.

(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 $4,828,773.

(4) Variable rate security. The rate shown is the coupon as of the end of the reporting period.

(5) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3.

(6) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate (Reference Rate) plus an assigned fixed rate (Spread). These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period.

(7) Senior loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments of senior loans may occur. As a result, the actual remaining maturity of senior loans held may be substantially less than the stated maturities shown.

(8) Investment, or portion of investment, represents an outstanding unfunded senior loan commitment. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information.

(9) Contingent Capital Securities (“CoCos”) are hybrid securities with loss absorption characteristics built into the terms of the security for the benefit of the issuer. For example, the terms may specify an automatic write-down of principal or a mandatory conversion into the issuer’s common stock under certain adverse circumstances, such as the issuer’s capital ratio falling below a specified level.

(10) Perpetual security. Maturity date is not applicable.

(11) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.

(12) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(13) 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.

(14) The rate shown is the one-day yield as of the end of the reporting period.

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.

DD1 Portion of investment purchased on a delayed delivery basis.

I/O Interest only security

LIBOR London Inter-Bank Offered Rate

N/A Not Applicable.

Reg S Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States.

SOFR30A 30 Day Average Secured Overnight Financing Rate

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.

WI/DD Purchased on a when-issued or delayed delivery basis.

See accompanying notes to financial statements.

34

Nuveen Strategic Income Fund

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		LONG-TERM INVESTMENTS – 97.6%
		CORPORATE BONDS – 40.2%
		Aerospace & Defense – 0.8%
$	2,625	Boeing Co		2.196%		2/04/26		Baa2	$	2,650,090
	500	Boeing Co		3.625%		2/01/31		Baa2		537,764
	670	Boeing Co		3.250%		2/01/35		Baa2		677,453
	350	Embraer Netherlands Finance BV, 144A		6.950%		1/17/28		BB+		400,313
	515	Raytheon Technologies Corp		2.250%		7/01/30		A–		523,348
	200	Rolls-Royce PLC, 144A		5.750%		10/15/27		BB–		220,298
	4,860	Total Aerospace & Defense								5,009,266
		Airlines – 0.5%
	786	American Airlines 2016-1 Class AA Pass Through Trust		3.575%		1/15/28		A–		800,031
	444	British Airways 2020-1 Class A Pass Through Trust, 144A		4.250%		11/15/32		A+		478,368
	432	British Airways 2020-1 Class B Pass Through Trust, 144A		8.375%		11/15/28		BBB		498,967
	175	Delta Air Lines Inc, 144A		7.000%		5/01/25		Baa2		204,223
	1,285	United Airlines 2020-1 Class A Pass-Through Trust		5.875%		10/15/27		A		1,425,510
	3,122	Total Airlines								3,407,099
		Auto Components – 0.3%
	600	Adient Global Holdings Ltd, 144A		4.875%		8/15/26		B		617,538
	90	Clarios Global LP, 144A		6.750%		5/15/25		B1		95,848
	150	Dana Inc		4.250%		9/01/30		BB+		154,313
	1,000	Goodyear Tire & Rubber Co		5.250%		4/30/31		BB–		1,043,750
	1,840	Total Auto Components								1,911,449
		Automobiles – 0.7%
	250	Ford Motor Co		9.000%		4/22/25		BB+		308,217
	200	Ford Motor Credit Co LLC		4.000%		11/13/30		BB+		209,500
	795	Ford Motor Credit Co LLC		3.625%		6/17/31		BB+		810,407
	2,845	General Motors Financial Co Inc		3.600%		6/21/30		BBB		3,080,428
	4,090	Total Automobiles								4,408,552
		Banks – 6.9%
	375	African Export-Import Bank, 144A		2.634%		5/17/26		Baa1		379,578
	750	Akbank TAS, 144A, (3)		6.800%		2/06/26		B+		790,485
	600	Banco de Credito del Peru, 144A		3.250%		9/30/31		BBB		594,000
	2,435	Banco Santander SA		3.800%		2/23/28		A–		2,691,975
	200	Banco Santander SA		2.749%		12/03/30		BBB+		198,124
	425	Bancolombia SA		3.000%		1/29/25		Baa2		436,475
	750	Banistmo SA, 144A		4.250%		7/31/27		Baa3		790,312
	1,060	Bank of America Corp		3.559%		4/23/27		AA–		1,160,937

35

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Banks (continued)
$	1,105	Bank of America Corp		3.248%		10/21/27		AA–	$	1,198,637
	3,662	Bank of America Corp		3.419%		12/20/28		AA–		3,988,319
	1,225	Bank of America Corp		1.898%		7/23/31		AA–		1,191,003
	1,660	Bank of America Corp		1.922%		10/24/31		AA–		1,617,762
	850	Banque Ouest Africaine de Developpement, 144A		5.000%		7/27/27		Baa1		945,601
	2,865	Barclays PLC		3.650%		3/16/25		A		3,102,165
	2,010	BNP Paribas SA, 144A		4.375%		5/12/26		A–		2,236,756
	750	Caelus Re VI Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 5.500% spread), (4)		5.541%		6/07/23		N/R		767,550
	1,575	Citigroup Inc		4.300%		11/20/26		BBB+		1,777,952
	1,210	Citigroup Inc		4.450%		9/29/27		BBB+		1,382,420
	2,080	Citigroup Inc		2.666%		1/29/31		A		2,146,624
	970	Citigroup Inc		2.572%		6/03/31		A		997,182
	675	Development Bank of Kazakhstan JSC, 144A		2.950%		5/06/31		BBB		671,625
	675	Grupo Aval Ltd, 144A		4.375%		2/04/30		BBB–		667,204
	1,465	HSBC Holdings PLC		2.099%		6/04/26		A+		1,505,532
	815	HSBC Holdings PLC		4.375%		11/23/26		A–		918,994
	915	HSBC Holdings PLC		2.804%		5/24/32		A+		939,018
	2,100	ING Groep NV		3.950%		3/29/27		A+		2,362,480
	695	JPMorgan Chase & Co		3.702%		5/06/30		AA–		776,094
	600	JPMorgan Chase & Co		2.956%		5/13/31		A		630,304
	1,705	Natwest Group PLC		3.032%		11/28/35		BBB+		1,707,728
	400	Societe Generale SA, 144A		2.889%		6/09/32		A–		404,768
	1,560	Wells Fargo & Co		2.879%		10/30/30		A+		1,651,990
	3,500	Wells Fargo & Co		3.900%		N/A (11)		Baa2		3,623,550
	1,500	Zions Bancorp NA		3.250%		10/29/29		BBB		1,572,057
	43,162	Total Banks								45,825,201
		Beverages – 0.4%
	500	Anadolu Efes Biracilik Ve Malt Sanayii AS, 144A		3.375%		6/29/28		BBB–		500,650
	500	Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc		4.900%		2/01/46		BBB+		632,875
	825	Constellation Brands Inc		2.875%		5/01/30		BBB		865,139
	375	Primo Water Holdings Inc, 144A		4.375%		4/30/29		B1		375,000
	175	Triton Water Holdings Inc, 144A		6.250%		4/01/29		CCC+		175,438
	2,375	Total Beverages								2,549,102
		Biotechnology – 0.2%
	925	AbbVie Inc		3.200%		11/21/29		BBB+		1,004,591
		Building Products – 0.1%
	625	Cemex SAB de CV, 144A		5.125%		N/A (11)		B		645,125

36

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Capital Markets – 2.5%
$	2,000	Banco BTG Pactual SA/Cayman Islands, 144A		2.750%		1/11/26		Ba2	$	1,949,000
	3,500	Charles Schwab Corp		4.000%		N/A (11)		BBB		3,648,750
	300	Compass Group Diversified Holdings LLC, 144A		5.250%		4/15/29		B+		312,000
	250	Credit Suisse Group AG, 144A		3.091%		5/14/32		A–		257,563
	1,250	ENN Clean Energy International Investment Ltd, 144A		3.375%		5/12/26		BBB–		1,274,262
	2,295	Goldman Sachs Group Inc		4.250%		10/21/25		BBB+		2,565,600
	350	LPL Holdings Inc, 144A		4.000%		3/15/29		BB		351,565
	850	LPL Holdings Inc, 144A		4.375%		5/15/31		BB		859,562
	4,635	Morgan Stanley		3.950%		4/23/27		Baa1		5,179,002
	15,430	Total Capital Markets								16,397,304
		Chemicals – 1.4%
	2,185	Agrium Inc		3.375%		3/15/25		BBB		2,303,143
	500	Alpek SAB de CV, 144A		4.250%		9/18/29		Baa3		542,505
	500	Equate Petrochemical BV, 144A		2.625%		4/28/28		BBB		505,000
	1,000	LG Chem Ltd, 144A, (WI/DD)		1.375%		7/07/26		BBB+		991,415
	1,350	NOVA Chemicals Corp, 144A		5.000%		5/01/25		BB–		1,444,500
	720	OCI NV, 144A		4.625%		10/15/25		BB		750,827
	325	OCP SA, 144A		3.750%		6/23/31		BB+		328,088
	1,625	Orbia Advance Corp SAB de CV, 144A		1.875%		5/11/26		BBB		1,643,687
	100	Rayonier AM Products Inc, 144A		7.625%		1/15/26		B1		104,250
	725	Sasol Financing USA LLC		4.375%		9/18/26		BB		748,925
	9,030	Total Chemicals								9,362,340
		Commercial Services & Supplies – 0.6%
	1,275	ADT Security Corp, 144A		4.875%		7/15/32		BB–		1,343,518
	400	GFL Environmental Inc, 144A		3.750%		8/01/25		BB–		411,000
	100	GFL Environmental Inc, 144A		5.125%		12/15/26		BB–		105,792
	625	GFL Environmental Inc, 144A		3.500%		9/01/28		BB–		623,438
	565	Madison IAQ LLC, 144A		4.125%		6/30/28		B1		570,650
	250	Pitney Bowes Inc, 144A, (3)		7.250%		3/15/29		BB		265,625
	125	Prime Security Services Borrower LLC / Prime Finance Inc, 144A		3.375%		8/31/27		BB–		121,250
	375	Prime Security Services Borrower LLC / Prime Finance Inc, 144A		6.250%		1/15/28		B–		398,906
	3,715	Total Commercial Services & Supplies								3,840,179
		Communications Equipment – 1.1%
	550	AT&T Inc		3.300%		2/01/52		BBB+		535,099
	650	Gray Television Inc, 144A		4.750%		10/15/30		BB–		647,744
	425	Liquid Telecommunications Financing Plc, 144A		5.500%		9/04/26		B1		435,179
	1,000	Network i2i Ltd, 144A, (3)		3.975%		N/A (11)		BB		1,000,500
	1,010	T-Mobile USA Inc		3.875%		4/15/30		BBB–		1,128,998
	1,100	T-Mobile USA Inc		2.250%		11/15/31		BBB–		1,085,117
	2,500	Vodafone Group PLC		4.125%		6/04/81		BB+		2,496,250
	7,235	Total Communications Equipment								7,328,887

37

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Construction & Engineering – 0.1%
$	400	ATP Tower Holdings LLC / Andean Tower Partners Colombia SAS / Andean Telecom Par, 144A, (3)		4.050%		4/27/26		BB+	$	411,200
		Construction Materials – 0.5%
	450	Cemex SAB de CV, 144A		7.375%		6/05/27		BB		507,960
	600	Cemex SAB de CV, 144A		5.450%		11/19/29		BB		659,700
	500	Cemex SAB de CV, 144A		3.875%		7/11/31		BB		508,250
	750	Gates Global LLC / Gates Corp, 144A		6.250%		1/15/26		B		785,636
	750	UltraTech Cement Ltd, 144A		2.800%		2/16/31		Baa3		725,048
	450	Volcan Cia Minera SAA, 144A, (3)		4.375%		2/11/26		BB		445,500
	3,500	Total Construction Materials								3,632,094
		Consumer Finance – 0.2%
	1,000	Curo Group Holdings Corp, 144A		8.250%		9/01/25		B–		1,035,000
	425	OneMain Finance Corp		5.375%		11/15/29		BB–		462,289
	1,425	Total Consumer Finance								1,497,289
		Containers & Packaging – 0.5%
	1,910	Amcor Flexibles North America Inc		2.690%		5/25/31		BBB		1,948,039
	200	Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 144A		3.250%		9/01/28		BB+		199,420
	200	Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 144A, (3)		4.000%		9/01/29		BB–		198,315
	1,200	Berry Global Inc, 144A		1.570%		1/15/26		BBB–		1,200,360
	3,510	Total Containers & Packaging								3,546,134
		Distributors – 0.1%
	625	H&E Equipment Services Inc, 144A		3.875%		12/15/28		BB–		615,000
		Diversified Financial Services – 1.9%
	625	AerCap Ireland Capital DAC / AerCap Global Aviation Trust		3.500%		1/15/25		BBB		662,354
	450	DAE Funding LLC, 144A		3.375%		3/20/28		Baa3		459,936
	4,460	GE Capital International Funding Co Unlimited Co		4.418%		11/15/35		BBB+		5,345,227
	425	Genesis Energy LP / Genesis Energy Finance Corp		7.750%		2/01/28		B+		439,212
	375	Indian Railway Finance Corp Ltd, 144A		3.249%		2/13/30		BBB–		379,840
	1,345	OneMain Finance Corp		3.500%		1/15/27		BB–		1,355,088
	250	Putnam RE PTE Ltd, 144A, (1-Month U.S. Treasury Bill reference rate + 5.500% spread), (4)		5.541%		6/07/24		N/R		249,525
	2,000	Quicken Loans LLC, 144A		5.250%		1/15/28		BB+		2,100,000
	300	Sanders Re II Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 3.500% spread), (4)		3.541%		4/07/25		N/R		299,550
	250	Sanders Re Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 5.500% spread), (4)		5.541%		4/07/22		N/R		218,750
	500	Sierra Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 3.250% spread), (4)		3.291%		12/28/22		N/R		505,200
	500	Ursa Re II Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 3.750% spread), (4)		3.791%		12/07/23		N/R		518,550
	11,480	Total Diversified Financial Services								12,533,232

38

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Diversified Telecommunication Services – 1.8%
$	775	Altice France SA/France, 144A		5.125%		7/15/29		B	$	778,798
	3,950	AT&T Inc		4.350%		3/01/29		BBB+		4,573,535
	1,130	AT&T Inc		3.500%		6/01/41		BBB+		1,173,806
	75	AT&T Inc		3.650%		6/01/51		BBB+		77,861
	722	AT&T Inc, 144A		3.800%		12/01/57		BBB+		752,239
	1,000	Avaya Inc, 144A		6.125%		9/15/28		BB–		1,070,300
	800	Verizon Communications Inc		1.750%		1/20/31		A–		766,671
	725	Verizon Communications Inc		2.550%		3/21/31		A–		741,041
	350	Verizon Communications Inc		2.875%		11/20/50		A–		332,471
	1,285	Vmed O2 UK Financing I PLC, 144A, (WI/DD)		4.750%		7/15/31		BB–		1,304,275
	500	Zayo Group Holdings Inc, 144A		4.000%		3/01/27		B1		496,560
	11,312	Total Diversified Telecommunication Services								12,067,557
		Electric Utilities – 1.5%
	675	AES Andres BV, 144A		5.700%		5/04/28		BB–		698,095
	1,025	Berkshire Hathaway Energy Co		3.700%		7/15/30		A–		1,161,845
	2,000	Edison International		5.375%		N/A (11)		BB+		2,014,600
	800	Empresas Publicas de Medellin ESP, 144A		4.375%		2/15/31		Baa3		789,536
	430	NSTAR Electric Co		3.950%		4/01/30		A1		494,680
	2,000	Oglethorpe Power Corp		4.200%		12/01/42		BBB+		2,218,091
	1,000	ReNew Wind Energy AP2 / ReNew Power Pvt Ltd other 9 Subsidiaries, 144A		4.500%		7/14/28		Ba3		1,016,616
	1,575	Southern California Edison Co		4.000%		4/01/47		A–		1,656,745
	9,505	Total Electric Utilities								10,050,208
		Electronic Equipment, Instruments & Components – 0.3%
	1,650	Imola Merger Corp, 144A		4.750%		5/15/29		BB		1,697,437
		Energy Equipment & Services – 0.4%
	1,100	Archrock Partners LP / Archrock Partners Finance Corp, 144A		6.875%		4/01/27		B+		1,167,375
	550	Archrock Partners LP / Archrock Partners Finance Corp, 144A		6.250%		4/01/28		B+		574,151
	1,000	Galaxy Pipeline Assets Bidco Ltd, 144A		2.625%		3/31/36		Aa2		980,921
	2,650	Total Energy Equipment & Services								2,722,447
		Entertainment – 0.0%
	225	Live Nation Entertainment Inc, 144A		6.500%		5/15/27		B+		249,705
		Equity Real Estate Investment Trust – 1.8%
	540	Brixmor Operating Partnership LP		2.250%		4/01/28		BBB–		539,355
	375	CTR Partnership LP / CareTrust Capital Corp, 144A		3.875%		6/30/28		BB+		382,920
	940	Essential Properties LP		2.950%		7/15/31		BBB–		939,184
	1,075	Essex Portfolio LP		2.650%		3/15/32		BBB+		1,090,645
	745	GLP Capital LP / GLP Financing II Inc		4.000%		1/15/30		BBB–		799,616
	1,495	HAT Holdings I LLC / HAT Holdings II LLC, 144A		3.375%		6/15/26		BB+		1,506,212
	595	Healthcare Realty Trust Inc		2.400%		3/15/30		BBB+		598,029

39

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Equity Real Estate Investment Trust (continued)
$	750	MPH Acquisition Holdings LLC, 144A, (3)		5.750%		11/01/28		B–	$	753,682
	325	MPT Operating Partnership LP / MPT Finance Corp		3.500%		3/15/31		BBB–		328,247
	1,335	Regency Centers LP		2.950%		9/15/29		BBB+		1,405,843
	1,236	Retail Properties of America Inc		4.750%		9/15/30		BBB–		1,369,222
	240	SBA Tower Trust, 144A		2.836%		1/15/25		A2		251,776
	270	SBA Tower Trust, 144A		1.884%		1/15/26		A2		273,345
	500	SBA Tower Trust, 144A		1.631%		11/15/26		A2		499,879
	375	Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC, 144A		4.750%		4/15/28		BB+		374,063
	1,000	VICI Properties LP / VICI Note Co Inc, 144A		4.125%		8/15/30		BB		1,026,820
	11,796	Total Equity Real Estate Investment Trust								12,138,838
		Food & Staples Retailing – 0.1%
	658	CVS Health Corp		4.300%		3/25/28		BBB		755,981
		Food Products – 0.5%
	900	Amaggi Luxembourg International Sarl, 144A, (3)		5.250%		1/28/28		BB		943,659
	750	BRF SA, 144A		4.875%		1/24/30		Ba2		787,500
	600	NBM US Holdings Inc, 144A		6.625%		8/06/29		BB		674,100
	575	Ulker Biskuvi Sanayi AS, 144A, (3)		6.950%		10/30/25		BB–		623,668
	2,825	Total Food Products								3,028,927
		Gas Utilities – 0.0%
	100	Suburban Propane Partners LP/Suburban Energy Finance Corp, 144A		5.000%		6/01/31		BB–		102,375
		Health Care Providers & Services – 0.6%
	370	AHP Health Partners Inc, 144A		5.750%		7/15/29		CCC+		375,088
	350	Centene Corp		4.625%		12/15/29		BBB–		384,919
	200	CHS/Community Health Systems Inc, 144A		6.875%		4/15/29		CCC		209,294
	1,130	CVS Health Corp		1.875%		2/28/31		BBB		1,096,052
	450	DaVita Inc, 144A		3.750%		2/15/31		Ba3		432,000
	275	Encompass Health Corp		4.500%		2/01/28		B+		285,304
	100	HCA Inc		5.625%		9/01/28		Baa3		118,500
	275	LifePoint Health Inc, 144A		5.375%		1/15/29		CCC+		268,125
	750	Team Health Holdings Inc, 144A		6.375%		2/01/25		CCC		713,295
	3,900	Total Health Care Providers & Services								3,882,577
		Hotels, Restaurants & Leisure – 1.0%
	300	Carnival Corp, 144A		7.625%		3/01/26		B+		325,875
	375	Cedar Fair LP / Canada’s Wonderland Co / Magnum Management Corp / Millennium Op, 144A		5.500%		5/01/25		Ba2		391,406
	225	Churchill Downs Inc, 144A		4.750%		1/15/28		B+		232,810
	740	Cinemark USA Inc, 144A		5.250%		7/15/28		B		758,500
	1,500	Genm Capital Labuan Ltd, 144A		3.882%		4/19/31		BBB		1,493,190
	200	International Game Technology PLC, 144A		4.125%		4/15/26		BB		208,250

40

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Hotels, Restaurants & Leisure (continued)
$	600	Life Time Inc, 144A		5.750%		1/15/26		B–	$	621,750
	215	Marriott Ownership Resorts Inc, 144A		4.500%		6/15/29		B1		217,956
	325	Melco Resorts Finance Ltd, 144A		5.750%		7/21/28		BB		342,875
	700	MGM China Holdings Ltd, 144A		4.750%		2/01/27		Ba3		713,461
	1,000	Wynn Macau Ltd, 144A		5.625%		8/26/28		BB–		1,042,500
	6,180	Total Hotels, Restaurants & Leisure								6,348,573
		Household Durables – 0.0%
	100	Kronos Acquisition Holdings Inc / KIK Custom Products Inc, 144A		5.000%		12/31/26		B2		101,500
	150	WASH Multifamily Acquisition Inc, 144A		5.750%		4/15/26		B–		156,615
	250	Total Household Durables								258,115
		Independent Power & Renewable Electricity Producers – 0.6%
	600	Azure Power Solar Energy Pvt Ltd, 144A		5.650%		12/24/24		Ba1		636,000
	174	Clearway Energy Operating LLC, 144A		4.750%		3/15/28		BB		182,483
	1,000	EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 144A		5.375%		12/30/30		BBB–		995,000
	750	India Green Energy Holdings, 144A		5.375%		4/29/24		Ba3		784,875
	550	Investment Energy Resources Ltd, 144A		6.250%		4/26/29		BB–		594,687
	670	UEP Penonome II SA, 144A		6.500%		10/01/38		BB		683,876
	3,744	Total Independent Power & Renewable Electricity Producers								3,876,921
		Industrial Conglomerates – 0.1%
	500	Icahn Enterprises LP / Icahn Enterprises Finance Corp		5.250%		5/15/27		BB		516,248
		Insurance – 0.4%
	275	Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A		4.250%		10/15/27		B		279,122
	500	Bonanza RE Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 4.750% spread), (4)		4.791%		12/23/24		N/R		502,600
	500	First Coast Re III Pte Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 6.000% spread), (4)		6.041%		4/07/25		N/R		500,400
	250	Kendall Re Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 4.000% spread), (4)		4.041%		5/02/24		N/R		250,625
	550	Residential Reinsurance 2020 Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 6.510% spread), (4)		6.551%		12/06/24		N/R		557,150
	250	Sutter Re Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 5.000% spread), (4)		5.000%		6/06/22		N/R		255,725
	500	Vitality Re XII Ltd, 144A, (3-Month U.S. Treasury Bill reference rate + 2.250% spread), (4)		2.291%		1/07/25		BBB+		498,100
	2,825	Total Insurance								2,843,722
		Interactive Media & Services – 0.1%
	100	Arches Buyer Inc, 144A		4.250%		6/01/28		B1		98,875
	100	Arches Buyer Inc, 144A		6.125%		12/01/28		CCC+		103,000
	725	Prosus NV, 144A		3.680%		1/21/30		BBB–		774,234
	925	Total Interactive Media & Services								976,109
		Internet Software & Services – 0.1%
	325	J2 Global Inc, 144A		4.625%		10/15/30		BB		336,473

41

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		IT Services – 0.1%
$	325	Ahead DB Holdings LLC, 144A		6.625%		5/01/28		CCC+	$	336,225
	95	Booz Allen Hamilton Inc, 144A		4.000%		7/01/29		Ba2		97,138
	420	Total IT Services								433,363
		Life Sciences Tools & Services – 0.0%
	300	Avantor Funding Inc, 144A		4.625%		7/15/28		BB		316,731
		Media – 1.3%
	375	CCO Holdings LLC / CCO Holdings Capital Corp, 144A		4.500%		8/15/30		BB+		390,455
	1,030	Comcast Corp		2.650%		2/01/30		A–		1,084,249
	665	Comcast Corp		3.969%		11/01/47		A–		774,216
	1,200	CSC Holdings LLC, 144A		6.500%		2/01/29		BB		1,329,120
	1,500	DISH DBS Corp		7.750%		7/01/26		B2		1,698,750
	225	DISH DBS Corp, 144A		5.125%		6/01/29		B2		222,172
	500	Grupo Televisa SAB, (3)		5.250%		5/24/49		BBB+		632,264
	500	Lamar Media Corp		3.750%		2/15/28		BB–		508,750
	200	Lamar Media Corp		4.000%		2/15/30		BB–		202,422
	425	LCPR Senior Secured Financing DAC, 144A		5.125%		7/15/29		BB+		439,344
	325	News Corp, 144A		3.875%		5/15/29		BB+		328,250
	275	Sirius XM Radio Inc, 144A		4.000%		7/15/28		BB		283,250
	625	TEGNA Inc		4.625%		3/15/28		BB		648,437
	250	Univision Communications Inc, 144A		4.500%		5/01/29		B1		251,875
	8,095	Total Media								8,793,554
		Metals & Mining – 0.3%
	675	AngloGold Ashanti Holdings PLC		3.750%		10/01/30		Baa3		695,776
	300	Constellium SE, 144A		3.750%		4/15/29		B		297,000
	800	First Quantum Minerals Ltd, 144A		6.500%		3/01/24		B		816,000
	1,775	Total Metals & Mining								1,808,776
		Multiline Retail – 0.1%
	750	JSM Global Sarl, 144A, (3)		4.750%		10/20/30		Ba1		777,855
		Oil, Gas & Consumable Fuels – 6.2%
	900	Antero Midstream Partners LP / Antero Midstream Finance Corp, 144A		7.875%		5/15/26		BB–		1,005,849
	1,560	ConocoPhillips, 144A		2.400%		2/15/31		A		1,596,721
	1,100	Cosan SA, 144A, (3)		5.500%		9/20/29		BB		1,184,931
	725	Diamondback Energy Inc		3.250%		12/01/26		BBB		777,129
	555	Diamondback Energy Inc		3.125%		3/24/31		BBB		575,178
	270	DT Midstream Inc, 144A		4.125%		6/15/29		BB+		274,139
	225	DT Midstream Inc, 144A		4.375%		6/15/31		BB+		229,903
	575	Ecopetrol SA		6.875%		4/29/30		Baa3		694,031
	100	Ecopetrol SA		5.875%		5/28/45		Baa3		107,150
	1,025	Enbridge Inc		2.500%		8/01/33		BBB+		1,025,097

42

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Oil, Gas & Consumable Fuels (continued)
$	326	Energean Israel Finance Ltd		4.875%		3/30/26		BB–	$	333,711
	326	Energean Israel Finance Ltd, 144A		5.375%		3/30/28		BB–		334,546
	1,420	Energy Transfer LP		5.000%		5/15/50		BBB–		1,641,256
	125	EnLink Midstream LLC, 144A		5.625%		1/15/28		BB+		132,049
	250	EnLink Midstream LLC		5.375%		6/01/29		BB+		260,905
	275	EQT Corp, 144A		3.125%		5/15/26		BB+		281,795
	500	Lukoil Securities BV, 144A		3.875%		5/06/30		BBB+		528,580
	1,325	Marathon Petroleum Corp		5.000%		9/15/54		BBB		1,589,649
	750	Medco Oak Tree Pte Ltd, 144A, (3)		7.375%		5/14/26		B1		819,375
	1,000	MEG Energy Corp, 144A		5.875%		2/01/29		BB–		1,042,500
	1,000	Moss Creek Resources Holdings Inc, 144A, (3)		10.500%		5/15/27		B		989,000
	1,620	MPLX LP		4.875%		6/01/25		BBB		1,828,706
	800	Murphy Oil Corp		5.875%		12/01/27		BB+		834,960
	350	NGL Energy Operating LLC / NGL Energy Finance Corp, 144A		7.500%		2/01/26		BB–		367,500
	2,000	Occidental Petroleum Corp		4.300%		8/15/39		Ba2		1,910,000
	1,340	ONEOK Inc		3.400%		9/01/29		BBB		1,426,385
	500	OQ SAOC, 144A		5.125%		5/06/28		BB–		502,532
	325	Parkland Corp/Canada, 144A		4.500%		10/01/29		BB		330,262
	115	PBF Holding Co LLC / PBF Finance Corp, 144A, (3)		9.250%		5/15/25		BB		115,850
	500	Pertamina Persero PT, 144A		1.400%		2/09/26		Baa2		489,806
	1,500	Pertamina Persero PT, 144A		2.300%		2/09/31		Baa2		1,434,212
	593	Petrobras Global Finance BV		5.093%		1/15/30		Ba2		647,265
	1,000	Petrobras Global Finance BV		5.600%		1/03/31		Ba2		1,120,000
	300	Petrobras Global Finance BV		5.500%		6/10/51		Ba2		300,105
	2,200	Petroleos Mexicanos		6.500%		3/13/27		BBB		2,322,100
	500	Petronas Energy Canada Ltd, 144A		2.112%		3/23/28		A2		505,218
	1,345	Sabine Pass Liquefaction LLC		5.875%		6/30/26		BBB–		1,592,153
	665	Saka Energi Indonesia PT, 144A		4.450%		5/05/24		B+		630,087
	665	Santos Finance Ltd, 144A		3.649%		4/29/31		BBB		680,657
	1,050	Saudi Arabian Oil Co, 144A		2.250%		11/24/30		A1		1,030,438
	1,000	SierraCol Energy Andina LLC, 144A		6.000%		6/15/28		B1		1,012,200
	1,000	SunCoke Energy Inc, 144A		4.875%		6/30/29		BB		998,750
	500	Sunoco LP / Sunoco Finance Corp		6.000%		4/15/27		BB		522,875
	125	Sunoco LP / Sunoco Finance Corp, 144A		4.500%		5/15/29		BB		127,187
	150	Targa Resources Partners LP / Targa Resources Partners Finance Corp		6.500%		7/15/27		BB+		162,558
	500	Thaioil Treasury Center Co Ltd, 144A		2.500%		6/18/30		BBB		489,955
	1,850	TotalEnergies Capital International SA		2.986%		6/29/41		A1		1,883,989
	1,325	Tullow Oil PLC, 144A		10.250%		5/15/26		B–		1,390,322
	975	USA Compression Partners LP / USA Compression Finance Corp		6.875%		9/01/27		BB–		1,041,573
	39,125	Total Oil, Gas & Consumable Fuels								41,121,139

43

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Paper & Forest Products – 0.2%
$	1,000	Suzano Austria GmbH		3.125%		1/15/32		BBB–	$	990,370
		Personal Products – 0.1%
	675	Coty Inc, 144A		5.000%		4/15/26		B		684,437
		Pharmaceuticals – 0.6%
	1,200	AbbVie Inc		4.250%		11/21/49		BBB+		1,438,217
	225	Endo Luxembourg Finance Co I Sarl / Endo US Inc, 144A		6.125%		4/01/29		B		220,500
	200	Horizon Therapeutics USA Inc, 144A		5.500%		8/01/27		Ba3		212,250
	200	Jazz Securities DAC, 144A		4.375%		1/15/29		BB+		207,360
	975	Organon & Co, 144A		5.125%		4/30/31		BB–		1,004,445
	710	Royalty Pharma PLC, 144A		2.200%		9/02/30		BBB–		696,130
	3,510	Total Pharmaceuticals								3,778,902
		Professional Services – 0.0%
	250	ASGN Inc, 144A, (3)		4.625%		5/15/28		BB–		261,868
		Real Estate Management & Development – 0.2%
	250	Howard Hughes Corp, 144A		4.125%		2/01/29		BB		250,005
	250	Howard Hughes Corp, 144A		4.375%		2/01/31		BB		249,095
	275	Kennedy-Wilson Inc		4.750%		3/01/29		BB		283,250
	300	Kennedy-Wilson Inc		5.000%		3/01/31		BB		308,625
	1,075	Total Real Estate Management & Development								1,090,975
		Road & Rail – 0.2%
	250	DAE Funding LLC, 144A		1.550%		8/01/24		Baa3		249,492
	1,000	United Rentals North America Inc		4.875%		1/15/28		BB		1,060,500
	1,250	Total Road & Rail								1,309,992
		Semiconductors & Semiconductor Equipment – 0.4%
	788	Broadcom Corp / Broadcom Cayman Finance Ltd		3.875%		1/15/27		Baa2		870,723
	1,502	Broadcom Inc, 144A		3.469%		4/15/34		BBB–		1,588,747
	500	SK Hynix Inc, 144A		1.500%		1/19/26		Baa2		493,210
	2,790	Total Semiconductors & Semiconductor Equipment								2,952,680
		Software – 0.1%
	100	Camelot Finance SA, 144A		4.500%		11/01/26		B1		104,625
	470	Clarivate Science Holdings Corp, 144A		3.875%		6/30/28		B1		474,282
	570	Total Software								578,907
		Specialty Retail – 1.0%
	1,645	AutoNation Inc		3.800%		11/15/27		BBB–		1,808,711
	800	Ferrellgas LP / Ferrellgas Finance Corp, 144A		5.375%		4/01/26		B–		793,000
	875	Ferrellgas LP / Ferrellgas Finance Corp, 144A		5.875%		4/01/29		B–		864,062
	400	LCM Investments Holdings II LLC, 144A		4.875%		5/01/29		BB–		410,000
	450	Lithia Motors Inc, 144A		4.625%		12/15/27		BB+		475,920
	375	Magic Mergeco Inc, 144A		5.250%		5/01/28		Ba3		384,724

44

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Specialty Retail (continued)
$	1,525	O’Reilly Automotive Inc		3.900%		6/01/29		Baa1	$	1,721,937
	100	PetSmart Inc / PetSmart Finance Corp, 144A		4.750%		2/15/28		BB–		103,875
	100	Staples Inc, 144A		7.500%		4/15/26		B		103,574
	275	Superior Plus LP / Superior General Partner Inc, 144A		4.500%		3/15/29		BB–		283,256
	6,545	Total Specialty Retail								6,949,059
		Technology Hardware, Storage & Peripherals – 0.1%
	500	Diebold Nixdorf Inc, (3)		8.500%		4/15/24		CCC		511,875
	250	NCR Corp, 144A		5.000%		10/01/28		BB–		258,518
	750	Total Technology Hardware, Storage & Peripherals								770,393
		Tobacco – 0.4%
	1,070	Altria Group Inc		4.500%		5/02/43		A3		1,149,999
	510	BAT Capital Corp		2.259%		3/25/28		BBB+		506,174
	1,025	BAT Capital Corp		3.984%		9/25/50		BBB+		998,287
	2,605	Total Tobacco								2,654,460
		Trading Companies & Distributors – 0.3%
	1,120	AerCap Ireland Capital DAC / AerCap Global Aviation Trust		6.500%		7/15/25		BBB		1,313,663
	750	Air Lease Corp		4.650%		N/A (11)		BB+		777,187
	145	WESCO Distribution Inc, 144A		7.125%		6/15/25		BB–		156,702
	2,015	Total Trading Companies & Distributors								2,247,552
		Wireless Telecommunication Services – 0.5%
	900	C&W Senior Financing DAC, 144A		6.875%		9/15/27		BB–		960,435
	1,000	Hughes Satellite Systems Corp		6.625%		8/01/26		BB		1,121,250
	936	Millicom International Cellular SA, 144A		5.125%		1/15/28		BB+		973,440
	2,836	Total Wireless Telecommunication Services								3,055,125
$	253,055	Total Corporate Bonds (cost $254,723,989)								266,352,395
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES – 29.6%
$	651	AASET 2020-1 Trust, 144A		4.335%		1/16/40		BBB	$	457,051
	600	ACRE Commercial Mortgage Series 2021-FL4 Ltd, 144A, (1-Month LIBOR reference rate + 2.600% spread), (4)		2.683%		12/18/37		N/R		595,513
	1,413	Adams Outdoor Advertising LP, 144A		4.810%		11/15/48		A		1,514,374
	1,150	AIMCO CLO 10 Ltd, 144A, (3-Month LIBOR reference rate + 3.550% spread), (4)		3.734%		7/22/32		BBB–		1,151,025
	1,500	Alen 2021-ACEN Mortgage Trust, 144A, (1-Month LIBOR reference rate + 4.000% spread), (4)		4.073%		4/15/34		BB–		1,512,432
	2,130	American Homes 4 Rent 2014-SFR2 Trust, 144A		3.786%		10/17/36		Aaa		2,263,853
	752	Ameriquest Mortgage Securities Inc Asset Back Ser 2004-R1, (1-Month LIBOR reference rate + 0.600% spread), (4)		0.706%		2/25/34		A		714,669
	265	AMSR 2019-SFR1 Trust, 144A		3.247%		1/19/39		Baa1		275,254
	1,482	AMSR 2020-SFR1 Trust, 144A		2.419%		4/17/37		Aa2		1,510,874

45

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	346	AMSR 2020-SFR1 Trust, 144A		2.619%		4/17/37		A2	$	350,435
	1,000	Angel Oak Mortgage Trust 2019-5, 144A		3.957%		10/25/49		BB		1,003,117
	1,000	Apidos CLO XXIX, 144A, (3-Month LIBOR reference rate + 1.550% spread), (4)		1.726%		7/25/30		AA		999,454
	1,340	Applebee’s Funding LLC / IHOP Funding LLC, 144A		4.194%		6/07/49		BBB		1,373,278
	2,100	Avis Budget Rental Car Funding AESOP LLC, 144A		4.150%		9/20/23		BBB		2,158,423
	700	Avis Budget Rental Car Funding AESOP LLC, 144A		2.130%		8/20/27		BBB		698,773
	700	BANK 2017-BNK8		4.206%		11/15/50		A–		751,148
	1,000	BANK 2019-BNK21, 144A		2.500%		10/17/52		BBB		908,785
	1,250	BANK 2019-BNK24		2.929%		11/15/62		AAA		1,347,135
	217	Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7		5.117%		2/11/41		Ba1		215,336
	1,000	Benchmark 2018-B5 Mortgage Trust		4.208%		7/15/51		AAA		1,156,343
	1,500	Benchmark 2020-B18 Mortgage Trust, 144A		4.139%		7/15/53		B–		1,521,479
	1,000	Benchmark 2020-IG2 Mortgage Trust, 144A		2.791%		9/15/48		Aaa		1,038,631
	1,000	Benchmark 2020-IG3 Mortgage Trust, 144A		3.654%		9/15/48		N/R		1,052,194
	1,000	Bojangles Issuer LLC, 144A		3.832%		10/20/50		N/R		1,042,680
	1,448	BX Commercial Mortgage Trust 2019-XL, 144A, (1-Month LIBOR reference rate + 0.920% spread), (4)		0.993%		10/15/36		Aaa		1,450,317
	905	BX Commercial Mortgage Trust 2019-XL, 144A, (1-Month LIBOR reference rate + 1.250% spread), (4)		1.323%		10/15/36		A3		906,147
	905	BX Commercial Mortgage Trust 2019-XL, 144A, (1-Month LIBOR reference rate + 1.800% spread), (4)		1.873%		10/15/36		N/R		906,139
	499	Cars Net Lease Mortgage Notes Series 2020-1, 144A		3.100%		12/15/50		A		511,499
	1,250	Cars Net Lease Mortgage Notes Series 2020-1, 144A		4.690%		12/15/50		BBB		1,358,773
	1,150	CARS-DB4 LP, 144A		4.520%		2/15/50		BBB		1,185,299
	891	Castlelake Aircraft Structured Trust 2021-1, 144A		3.474%		1/15/46		A2		905,430
	1,000	Cayuga Park CLO Ltd, 144A, (3-Month LIBOR reference rate + 2.100% spread), (4)		2.290%		7/17/31		AA		1,000,000
	500	Cayuga Park CLO Ltd, 144A, (3-Month LIBOR reference rate + 3.100% spread), (4), (WI/DD)		1.000%		7/17/34		N/R		500,000
	500	CD 2016-CD1 Mortgage Trust		2.926%		8/10/49		AAA		525,671
	705	CD 2016-CD1 Mortgage Trust		3.631%		8/10/49		A–		703,200
	50	CF 2020-P1 Mortgage Trust, 144A		2.840%		4/15/25		N/R		52,228
	750	CF 2020-P1 Mortgage Trust, 144A		10.010%		4/15/52		N/R		800,428
	750	CF 2020-P1 Mortgage Trust, 144A		3.603%		4/15/52		N/R		752,777
	1,432	CF Hippolyta LLC, 144A		2.280%		7/15/60		A–		1,455,141
	716	CF Hippolyta LLC, 144A		2.600%		7/15/60		A–		724,997
	355	CHL Mortgage Pass-Through Trust 2005-27		5.500%		12/25/35		N/R		330,011
	700	CIFC Funding 2020-II Ltd, 144A, (3-Month LIBOR reference rate + 2.200% spread), (4)		2.388%		8/24/32		AA		700,884
	2,750	Citigroup Commercial Mortgage Trust 2015-GC29		3.758%		4/10/48		AA–		2,930,115
	1,690	Citigroup Commercial Mortgage Trust 2015-GC29		4.288%		4/10/48		A–		1,807,838
	325	Citigroup Commercial Mortgage Trust 2016-GC36		3.349%		2/10/49		Aaa		348,637
	229	CLI Funding VI LLC, 144A		2.080%		9/18/45		A		230,473

46

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	400		COMM 2013-CCRE10 Mortgage Trust		4.210%		8/10/46		Aaa	$	426,916
	1,500		COMM 2014-CCRE19 Mortgage Trust, 144A		4.865%		8/10/47		BBB–		1,484,491
	750		COMM 2014-LC17 Mortgage Trust		4.188%		10/10/47		AAA		812,593
	1,500		COMM 2014-UBS3 Mortgage Trust, 144A		4.927%		6/10/47		N/R		1,515,710
	1,615		COMM 2015-CCRE22 Mortgage Trust		4.244%		3/10/48		A–		1,721,338
	1,000		COMM 2015-CCRE22 Mortgage Trust, 144A		3.000%		3/10/48		BB–		842,934
	1,240		COMM 2015-CCRE24 Mortgage Trust		3.463%		8/10/48		BBB–		1,140,005
	1,000		COMM 2015-CCRE24 Mortgage Trust		4.525%		8/10/48		AA–		1,097,312
	500		COMM 2015-CCRE24 Mortgage Trust		4.525%		8/10/48		A–		534,445
	550		COMM 2015-CCRE25 Mortgage Trust		3.932%		8/10/48		BB		517,984
	2,260		COMM 2015-CCRE26 Mortgage Trust		4.625%		10/10/48		A–		2,449,757
	890		COMM 2015-LC23 Mortgage Trust		4.771%		10/10/48		A–		961,785
	450		COMM 2019-GC44 Mortgage Trust, 144A		2.500%		8/15/57		BBB		400,082
	395		Connecticut Avenue Securities Trust 2018-R07, 144A		2.616%		4/25/31		B+		394,991
	877		Connecticut Avenue Securities Trust 2019-HRP1, 144A, (1-Month LIBOR reference rate + 2.150% spread), (4)		2.242%		11/25/39		B		873,813
	431		Corevest American Finance 2020-1 Trust, 144A		1.832%		3/15/50		AAA		437,774
	180		CPT MORTGAGE TRUST, 144A		3.097%		11/13/39		N/R		178,339
	36		Credit Suisse First Boston Mortgage Securities Corp		5.750%		9/25/33		AAA		36,276
	1,000		CSMC 2021-NQM1, 144A		2.130%		5/25/65		BBB		1,001,348
	1,395		DB Master Finance LLC, 144A		3.787%		5/20/49		BBB		1,413,245
	649		DB Master Finance LLC, 144A		4.021%		5/20/49		BBB		685,366
	467		Diamond Resorts Owner Trust 2021-1, 144A		2.700%		11/21/33		BBB		472,707
	467		Diamond Resorts Owner Trust 2021-1, 144A		3.830%		11/21/33		BB		474,918
	30,450		DOLP Trust 2021-NYC, 144A, (I/O)		0.665%		5/10/41		A–		1,511,745
	1,000		Domino’s Pizza Master Issuer LLC, 144A		2.662%		4/25/51		BBB+		1,034,690
	1,985		DRIVEN BRANDS FUNDING LLC, 144A		3.786%		7/20/50		BBB–		2,078,315
	1,500		Dryden 49 Senior Loan Fund, 144A, (3-Month LIBOR reference rate + 3.400% spread), (4)		3.590%		7/18/30		Baa3		1,500,018
	1,250		DT Auto Owner Trust 2021-1, 144A		2.380%		1/18/28		BB–		1,244,064
	680		Ellington Financial Mortgage Trust 2021-2, 144A		2.296%		6/25/66		BBB		676,924
	1,600		Extended Stay America Trust, 144A, (1-Month LIBOR reference rate + 1.080% spread), (4), (WI/DD)		1.155%		7/15/38		N/R		1,604,497
	3,150		Fannie Mae Connecticut Avenue Securities, (1-Month LIBOR reference rate + 3.000% spread), (4)		3.092%		7/25/24		Aaa		3,173,785
	171		Fannie Mae Connecticut Avenue Securities, (1-Month LIBOR reference rate + 6.950% spread), (4)		7.042%		8/25/28		A3		181,436
	282		Fannie Mae Connecticut Avenue Securities, (1-Month LIBOR reference rate + 5.900% spread), (4)		5.992%		10/25/28		BBB		298,202
	255		Fannie Mae Connecticut Avenue Securities, (1-Month LIBOR reference rate + 4.250% spread), (4)		4.342%		4/25/29		Aaa		265,227
	0	(5)	Fannie Mae Interest Strip FNS 366 25, (I/O)		5.000%		9/25/24		Aaa		10

47

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value
			ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	26		Fannie Mae Pool FN 256890		6.000%		9/01/37		Aaa	$	29,747
	170		Fannie Mae Pool FN 310200		3.000%		11/01/48		N/R		176,500
	27		Fannie Mae Pool FN 745101		6.000%		4/01/32		Aaa		30,232
	107		Fannie Mae Pool FN 745324		6.000%		3/01/34		Aaa		117,638
	1		Fannie Mae Pool FN 905597, (12-Month LIBOR reference rate + 1.875% spread), (4)		2.250%		12/01/36		N/R		805
	15		Fannie Mae Pool FN 946228, (12-Month LIBOR reference rate + 1.531% spread), (4)		2.156%		9/01/37		N/R		15,375
	—	(5)	Fannie Mae Pool FN AL1187		5.500%		7/01/24		N/R		204
	2,605		Fannie Mae Pool FN AS7499		3.500%		7/01/46		N/R		2,828,242
	1,439		Fannie Mae Pool FN BM5126		3.500%		1/01/48		N/R		1,558,790
	887		Fannie Mae Pool FN BM5839		3.500%		11/01/47		Aaa		961,891
	252		Fannie Mae Pool FN CA3960		3.000%		8/01/49		Aaa		269,117
	34		Fannie Mae Pool FN FM1108		5.000%		11/01/44		Aaa		38,815
	238		Fannie Mae Pool FN FM1136		5.500%		3/01/39		Aaa		275,336
	40		Fannie Mae Pool FN FM1137		6.000%		9/01/39		Aaa		47,436
	164		Fannie Mae Pool FN FM1138		6.500%		8/01/37		Aaa		186,536
	390		Fannie Mae Pool FN MA3228		3.000%		11/01/47		Aaa		400,320
	294		Fannie Mae REMICS Trust FNR 2013-98 SA, (1-Month LIBOR *-100% reference rate + 5.950% spread), (4), (I/O)		5.859%		9/25/43		Aaa		69,553
	1,232		Fannie Mae REMICS Trust FNR 2020-75 LI, (I/O)		2.500%		11/25/50		Aaa		175,509
	7,000		Fannie Mae TBA, (MDR), (WI/DD)		2.500%		TBA		Aaa		7,226,406
	92		Flagstar Mortgage Trust 2017-2, 144A		4.106%		10/25/47		A3		93,580
	3,000		Flagstar Mortgage Trust 2021-4, 144A		2.500%		6/01/51		AAA		3,020,625
	2,020		Freddie Mac Gold Pool FG G60138		3.500%		8/01/45		Aaa		2,210,499
	2,062		Freddie Mac Gold Pool FG G60238		3.500%		10/01/45		Aaa		2,239,030
	1,803		Freddie Mac Multifamily Structured Pass Through Certificates, (I/O)		2.802%		10/25/55		N/R		379,783
	226		Freddie Mac Strips FHS 326 350		3.500%		3/15/44		N/R		240,206
	237		Freddie Mac Strips FHS 327 S8, (1-Month LIBOR *-100% reference rate + 5.920% spread), (4), (I/O)		5.847%		3/15/44		N/R		46,446
	188		Freddie Mac Structured Agency Credit Risk Debt Notes, 144A		4.036%		9/25/47		Ba3		187,566
	900		Freddie Mac Structured Agency Credit Risk Debt Notes, 144A, (SOFR30A reference rate + 4.000% spread), (4)		4.018%		11/25/50		B2		941,844
	1,200		GS Mortgage Securities Corp Trust 2017-SLP, 144A		4.744%		10/10/32		B		1,197,007
	100		GS Mortgage Securities Trust 2013-GC13		4.188%		7/10/46		Aaa		105,968
	1,000		GS Mortgage Securities Trust 2016-GS4		3.930%		11/10/49		A–		1,001,210
	1,425		GS Mortgage Securities Trust 2019-GC38		4.158%		2/10/52		AAA		1,614,226
	1,000		GS Mortgage Securities Trust 2019-GC40, 144A		3.668%		7/10/52		BBB–		1,038,327
	1,000		GS Mortgage Securities Trust 2020-GSA2		2.012%		12/12/53		AAA		996,620
	156		GS Mortgage-Backed Securities Corp Trust 2019-PJ1, 144A		4.000%		8/25/49		Aa1		158,277
	23		GS Mortgage-Backed Securities Corp Trust 2019-PJ2, 144A		4.000%		11/25/49		Aaa		23,230
	60		GS Mortgage-Backed Securities Corp Trust 2019-PJ2, 144A		4.000%		11/25/49		Aa1		60,445
	199		GS Mortgage-Backed Securities Corp Trust 2021-PJ5, 144A		2.500%		10/25/51		Aa1		200,377

48

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	3,000	GS Mortgage-Backed Securities Trust, 144A		2.500%		11/25/51		Aa1	$	3,026,250
	1,493	Hardee’s Funding LLC, 144A		3.981%		12/20/50		BBB		1,579,393
	750	Hertz Vehicle Financing LLC, 144A		2.050%		12/26/25		Baa2		749,501
	918	Hilton Grand Vacations Trust 2019-A, 144A		2.840%		7/25/33		A–		939,710
	2,223	Horizon Aircraft Finance II Ltd, 144A		3.721%		7/15/39		A		2,185,494
	933	Horizon Aircraft Finance III Ltd, 144A		3.425%		11/15/39		A		917,059
	976	Horizon Aircraft Finance III Ltd, 144A		4.458%		11/15/39		BBB		946,645
	1,700	Hudson Yards, 144A		3.041%		12/10/41		N/R		1,628,524
	500	Hudson Yards 2019-30HY Mortgage Trust, 144A		3.558%		7/10/39		BBB–		526,904
	836	Impac Secured Assets CMN Owner Trust		8.000%		10/25/30		N/R		818,791
	450	Imperial Fund Mortgage Trust 2021-NQM1, 144A		2.383%		6/25/56		BBB		449,517
	1,230	Invitation Homes 2017-SFR2 Trust, 144A, (1-Month LIBOR reference rate + 1.150% spread), (4)		1.232%		12/17/36		Aa1		1,231,399
	283	JP Morgan Alternative Loan Trust 2007-S1, (1-Month LIBOR reference rate + 0.280% spread), (4)		0.372%		4/25/47		AAA		280,137
	335	JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16		4.166%		12/15/46		Aaa		358,873
	408	JP Morgan Mortgage Trust 2018-3, 144A		3.500%		9/25/48		AA+		412,512
	131	JP Morgan Mortgage Trust 2018-4, 144A		3.500%		10/25/48		AA+		134,347
	541	JP Morgan Mortgage Trust 2018-5, 144A		3.500%		10/25/48		AAA		556,915
	927	JP Morgan Mortgage Trust 2018-6, 144A		3.930%		12/25/48		Ba1		941,696
	268	JP Morgan Mortgage Trust 2019-1, 144A		4.000%		5/25/49		AAA		271,896
	62	JP Morgan Mortgage Trust 2019-3, 144A		4.725%		9/25/49		Aa1		66,449
	109	JP Morgan Mortgage Trust 2019-INV1, 144A, (1-Month LIBOR reference rate + 0.950% spread), (4)		1.042%		10/25/49		Aaa		109,589
	243	JP Morgan Mortgage Trust 2020-1, 144A		3.883%		6/25/50		A3		253,847
	353	JP Morgan Mortgage Trust 2021-6, 144A		2.500%		10/25/51		Aaa		358,064
	349	JP Morgan Mortgage Trust 2021-7, 144A		2.500%		11/25/51		Aaa		351,235
	230	JP Morgan Mortgage Trust 2021-8, 144A		2.500%		12/25/51		AAA		232,012
	175	JPMBB Commercial Mortgage Securities Trust 2014-C21		3.997%		8/15/47		Aaa		188,278
	1,600	JPMBB Commercial Mortgage Securities Trust 2014-C22		4.705%		9/15/47		BBB		1,582,108
	1,500	JPMCC Commercial Mortgage Securities Trust 2017-JP5		3.723%		3/15/50		Aaa		1,665,404
	1,000	JPMCC Commercial Mortgage Securities Trust 2017-JP7, 144A		4.545%		9/15/50		BBB		1,015,771
	190	Ladder Capital Commercial Mortgage 2013-GCP Mortgage Trust, 144A		3.985%		2/15/36		AAA		212,608
	308	Lunar Aircraft 2020-1 LTD, 144A		4.335%		2/15/45		BB		286,650
	1,000	MAPS 2021-1 Trust, 144A		2.521%		6/15/46		A1		1,002,434
	1,435	MASTR Reperforming Loan Trust 2005-1, 144A		7.500%		8/25/34		N/R		1,304,716
	34,356	MFT Trust 2020-ABC, 144A, (I/O)		0.235%		2/10/42		N/R		420,105
	176	Morgan Stanley ABS Capital I Inc Trust 2004-HE6, (1-Month LIBOR reference rate + 0.825% spread), (4)		0.917%		8/25/34		A		174,458
	1,500	Morgan Stanley Capital I Trust 2018-H3		4.177%		7/15/51		AAA		1,732,688
	1,500	MRCD Mortgage Trust, 144A		2.718%		12/15/36		N/R		1,494,135

49

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	1,245	MVW 2019-2 LLC, 144A		2.680%		10/20/38		BBB+	$	1,252,979
	490	MVW 2021-1W LLC, 144A		1.940%		1/22/41		BBB		490,635
	929	MVW Owner Trust 2019-1, 144A		3.330%		11/20/36		BBB+		950,612
	1,000	Myers Park CLO Ltd, 144A, (3-Month LIBOR reference rate + 1.600% spread), (4)		1.788%		10/20/30		AA		1,000,068
	1,000	Natixis Commercial Mortgage Securities Trust 2019-1776, 144A		3.902%		10/15/36		Ba3		1,002,118
	1,500	Natixis Commercial Mortgage Securities Trust 2019-MILE, 144A, (1-Month LIBOR reference rate + 3.500% spread), (4)		3.573%		7/15/36		N/R		1,484,937
	1,500	Natixis Commercial Mortgage Securities Trust 2019-MILE, 144A, (1-Month LIBOR reference rate + 4.250% spread), (4)		4.323%		7/15/36		N/R		1,473,640
	300	Navient Private Education Refi Loan Trust 2020-H, 144A		2.780%		1/15/69		N/R		309,031
	1,000	Neuberger Berman Loan Advisers CLO 27 Ltd, 144A, (3-Month LIBOR reference rate + 1.400% spread), (4)		1.584%		1/15/30		AA		1,000,014
	1,500	Neuberger Berman Loan Advisers CLO 31 Ltd, 144A, (3-Month LIBOR reference rate + 3.250% spread), (4)		0.000%		4/20/31		BBB–		1,500,582
	500	Neuberger Berman Loan Advisers CLO 37 Ltd, 144A, (3-Month LIBOR reference rate + 2.850% spread), (4)		2.942%		7/20/31		BBB–		500,753
	660	Neuberger Berman Loan Advisers Clo 40 Ltd, 144A, (3-Month LIBOR reference rate + 5.850% spread), (4)		6.038%		4/16/33		BB–		657,920
	1,000	Neuberger Berman Loan Advisers Clo 40 Ltd, 144A, (3-Month LIBOR reference rate + 2.750% spread), (4)		2.938%		4/16/33		BBB–		993,448
	130	New Residential Mortgage Loan Trust 2015-2, 144A		5.490%		8/25/55		Baa1		138,467
	35	New Residential Mortgage Loan Trust 2017-1, 144A		4.000%		2/25/57		Aaa		36,754
	1,560	New Residential Mortgage Loan Trust 2017-6, 144A		4.000%		8/27/57		Aaa		1,668,827
	1,000	Oak Street Investment Grade Net Lease Fund Series 2021-1, 144A		4.230%		1/20/51		BBB+		1,058,089
	77	OBX 2018-1 Trust, 144A, (1-Month LIBOR reference rate + 0.650% spread), (4)		0.742%		6/25/57		AAA		76,661
	1,000	Octagon Investment Partners 46 Ltd, 144A, (3-Month LIBOR reference rate + 2.200% spread), (4)		2.384%		7/15/33		AA		1,000,120
	1,150	One Bryant Park Trust 2019-OBP, 144A		2.516%		9/15/54		Aaa		1,190,780
	500	Oportun Funding XIV LLC, 144A		3.440%		3/08/28		N/R		499,222
	500	Oportun Funding XIV LLC, 144A		5.400%		3/08/28		N/R		499,999
	1,342	Pioneer Aircraft Finance Ltd, 144A		3.967%		6/15/44		BBB		1,338,151
	250	Purchasing Power Funding 2021-A LLC, 144A		4.370%		10/15/25		N/R		249,795
	199	Sequoia Mortgage Trust, 144A		2.500%		6/25/51		AAA		200,754
	58	Sequoia Mortgage Trust 2018-7, 144A		4.000%		9/25/48		Aaa		58,768
	34	Sequoia Mortgage Trust 2018-8, 144A		4.000%		11/25/48		Aaa		34,138
	19	Sequoia Mortgage Trust 2019-2, 144A		4.000%		6/25/49		AAA		18,997
	489	Sequoia Mortgage Trust 2020-3, 144A		3.000%		4/25/50		AAA		498,933
	499	ServiceMaster Funding LLC, 144A		2.841%		10/30/51		BBB–		515,752
	1,798	SERVPRO Master Issuer LLC, 144A		3.882%		10/25/49		BBB–		1,891,245
	1,000	SERVPRO Master Issuer LLC, 144A		2.394%		4/25/51		BBB–		1,009,040
	1,474	Sesac Finance LLC, 144A		5.216%		7/25/49		N/R		1,572,462
	2,359	Settlement Fee Finance 2019-1 LLC, 144A, (6)		3.840%		11/01/49		N/R		2,337,847

50

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		ASSET-BACKED AND MORTGAGE-BACKED SECURITIES (continued)
$	488	Sierra Timeshare 2019-2 Receivables Funding LLC, 144A		4.540%		5/20/36		BB	$	499,388
	881	Sierra Timeshare 2019-3 Receivables Funding LLC, 144A		4.180%		8/20/36		BB		895,452
	430	Sierra Timeshare 2021-1 Receivables Funding LLC, 144A		1.790%		11/20/37		BBB		431,861
	591	Sierra Timeshare Conduit Receivables Funding LLC, 144A		3.200%		3/20/34		BBB		596,082
	317	S-Jets 2017-1 Ltd, 144A		3.967%		8/15/42		BBB		313,391
	40,180	SLG Office Trust 2021-OVA, 144A, (I/O)		0.258%		7/15/41		AA–		862,861
	1,155	SLG Office Trust 2021-OVA, 144A		2.851%		7/15/41		N/R		1,130,550
	1,909	Sonic Capital LLC, 144A		3.845%		1/20/50		BBB		2,015,791
	1,500	Spruce Hill Mortgage Loan Trust 2020-SH1, 144A		3.827%		1/28/50		BB		1,526,188
	1,294	START Ireland, 144A		5.095%		3/15/44		BB		1,216,576
	1,024	Start Ltd/Bermuda, 144A		4.089%		5/15/43		BBB+		1,028,831
	1,776	Taco Bell Funding LLC, 144A		4.377%		5/25/46		BBB		1,785,804
	731	Taco Bell Funding LLC, 144A		4.318%		11/25/48		BBB		732,815
	1,440	Tesla Auto Lease Trust 2019-A, 144A		5.480%		5/22/23		Ba3		1,511,281
	968	TIF Funding II LLC, 144A		2.540%		2/20/46		BBB		956,811
	200	Tricon American Homes 2017-SFR1 Trust, 144A		4.011%		9/17/34		N/R		201,621
	305	Tricon American Homes 2019-SFR1 Trust, 144A		3.198%		3/17/38		Baa2		315,424
	500	Tricon American Homes 2020-SFR1 Trust, 144A		2.548%		7/17/38		Baa3		506,416
	1,000	UBS-Barclays Commercial Mortgage Trust 2013-C5, 144A		3.649%		3/10/46		Aa3		1,015,853
	200	Verus Securitization Trust 2019-3, 144A		4.043%		7/25/59		BB		203,512
	194	Verus Securitization Trust 2019-4, 144A		3.000%		11/25/59		A		196,722
	600	Verus Securitization Trust 2019-4, 144A		3.207%		11/25/59		BBB–		611,350
	1,425	Verus Securitization Trust 2020-1, 144A		2.724%		1/25/60		A		1,441,105
	716	Verus Securitization Trust 2020-4, 144A		2.321%		5/25/65		A		726,397
	1,346	Vivint Solar Financing V LLC, 144A		7.370%		4/30/48		N/R		1,428,188
	1,362	VR Funding LLC, 144A		2.790%		11/15/50		N/R		1,337,134
	227	VR Funding LLC, 144A		6.420%		11/15/50		N/R		228,988
	48	Wachovia Mortgage Loan Trust LLC Series 2005-B Trust		2.438%		10/20/35		Aaa		46,616
	68	Washington Mutual MSC Mortgage Pass-Through Certificates Series 2004-RA3 Trust		5.936%		8/25/38		Aaa		70,742
	482	Wells Fargo Mortgage Backed Securities 2021-1 Trust, 144A		2.500%		12/25/50		AAA		486,328
	870	Wendy’s Funding LLC, 144A		2.370%		6/15/51		BBB		877,560
	350	WFRBS Commercial Mortgage Trust 2013-C14		3.337%		6/15/46		Aaa		366,615
	1,496	Wingstop Funding LLC, 144A		2.841%		12/05/50		N/R		1,551,776
	660	ZAXBY’S FUNDING LLC, 144A		3.238%		7/30/51		N/R		668,237
$	296,901	Total Asset-Backed and Mortgage-Backed Securities (cost $192,812,011)								196,006,938

51

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon (7)		Reference Rate (7)		Spread (7)		Maturity (8)		Ratings (2)		Value
		VARIABLE RATE SENIOR LOAN INTERESTS – 9.0% (7)
		Aerospace & Defense – 0.2%
$	1,440	TransDigm, Inc., Term Loan E		2.354%		1-Month LIBOR		2.250%		5/30/25		Ba3	$	1,421,577
		Airlines – 0.3%
	350	Mileage Plus Holdings LLC, Term Loan B		5.385%		3-Month LIBOR		5.250%		6/20/27		Baa3		374,262
	175	SkyMiles IP Ltd., Term Loan B		4.750%		3-Month LIBOR		3.750%		10/20/27		Baa1		185,074
	1,496	United Airlines, Inc., Term Loan B		4.500%		3-Month LIBOR		3.750%		4/21/28		Ba1		1,517,968
	2,021	Total Airlines												2,077,304
		Auto Components – 0.2%
	911	Clarios Global LP, Term Loan B		3.354%		1-Month LIBOR		3.250%		4/30/26		B1		904,955
	448	Les Schwab Tire Centers, Term Loan B		4.250%		6-Month LIBOR		3.500%		11/02/27		B		448,589
	1,359	Total Auto Components												1,353,544
		Beverages – 0.1%
	224	Arterra Wines Canada, Inc., Term Loan		4.250%		3-Month LIBOR		3.500%		11/25/27		B1		224,645
	400	City Brewing Company, LLC, Term Loan		4.250%		3-Month LIBOR		3.500%		4/05/28		B+		402,500
	624	Total Beverages												627,145
		Building Products – 0.2%
	499	Cornerstone Building Brands, Inc., Term Loan B		3.750%		1-Month LIBOR		3.250%		4/12/28		B+		499,436
	980	Quikrete Holdings, Inc., Term Loan, First Lien		2.604%		1-Month LIBOR		2.500%		1/31/27		BB–		972,700
	1,479	Total Building Products												1,472,136
		Chemicals – 0.8%
	2,219	Messer Industries GmbH, Term Loan		2.646%		3-Month LIBOR		2.500%		3/01/26		BB–		2,206,826
	2,436	PolyOne Corporation, Term Loan B5		1.854%		1-Month LIBOR		1.750%		1/30/26		BB+		2,440,902
	670	PQ Corporation, Term Loan B		2.436%		3-Month LIBOR		2.250%		2/07/27		BB–		668,718
	5,325	Total Chemicals												5,316,446
		Commercial Services & Supplies – 0.9%
	990	Amentum Government Services Holdings LLC, Term Loan B		3.604%		1-Month LIBOR		3.500%		1/31/27		B1		990,124
	1,875	Filtration Group Corporation, Term Loan, First Lien		3.104%		1-Month LIBOR		3.000%		3/28/25		B		1,861,964
	249	GFL Environmental Inc., Term Loan		3.500%		1-Month LIBOR		3.000%		5/30/25		BB–		249,182
	1,480	Gopher Resource, LLC, Term Loan, First Lien		4.250%		1-Month LIBOR		3.250%		1/28/25		B		1,326,263
	160	Prime Security Services Borrower, LLC, Term Loan		3.500%		3-Month LIBOR		2.750%		9/23/26		BB–		160,407
	160	Prime Security Services Borrower, LLC, Term Loan		3.500%		6-Month LIBOR		2.750%		9/23/26		BB–		160,407
	126	Prime Security Services Borrower, LLC, Term Loan		3.500%		1-Month LIBOR		2.750%		9/23/26		BB–		124,942
	244	Prometric Holdings, Inc., Term Loan, First Lien		4.000%		1-Month LIBOR		3.000%		1/29/25		B2		241,552
	768	Spin Holdco Inc., Term Loan		4.750%		3-Month LIBOR		4.000%		3/04/28		B–		770,237
	6,052	Total Commercial Services & Supplies												5,885,078
		Construction & Engineering – 0.1%
	500	AECOM Technology Corporation, Term Loan B		1.854%		1-Month LIBOR		1.750%		4/13/28		BBB–		500,470
	500	Aegion Corporation, Term Loan		5.500%		3-Month LIBOR		4.750%		5/17/28		B		506,250
	1,000	Total Construction & Engineering												1,006,720

52

Principal Amount (000)		Description (1)	Coupon (7)		Reference Rate (7)		Spread (7)		Maturity (8)		Ratings (2)		Value
		Containers & Packaging – 0.2%
$	499	Plaze, Inc., Term Loan B		3.604%		1-Month LIBOR		3.500%		8/03/26		B	$	492,500
	246	Pregis TopCo Corporation, Term Loan, First Lien		4.104%		1-Month LIBOR		4.000%		8/01/26		B2		246,496
	303	Reynolds Consumer Products LLC, Term Loan		1.854%		1-Month LIBOR		1.750%		2/04/27		BBB–		301,250
	249	Reynolds Group Holdings Inc., Term Loan B2		3.354%		1-Month LIBOR		3.250%		2/05/26		B+		247,484
	196	Tank Holding Corp., Term Loan		3.604%		Prime		3.500%		3/26/26		B2		195,486
	1,493	Total Containers & Packaging												1,483,216
		Distributors – 0.1%
	456	Univar Solutions USA Inc. Term B-6 Loan, (WI/DD)		TBD		TBD		TBD		TBD		BBB–		456,018
		Diversified Financial Services – 0.1%
	569	IG Investment Holdings, LLC, Term Loan, First Lien		4.750%		3-Month LIBOR		3.750%		5/23/25		B2		570,551
		Diversified Telecommunication Services – 0.0%
	312	Zayo Group Holdings, Inc., Term Loan		3.104%		1-Month LIBOR		3.000%		3/09/27		B1		308,878
		Electrical Equipment – 0.1%
	400	Ingram Micro Inc., Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		BB		401,188
		Energy Equipment & Services – 0.1%
	546	Apergy Corporation, Term Loan		6.000%		3-Month LIBOR		5.000%		6/03/27		BBB–		558,199
		Food & Staples Retailing – 0.0%
	199	Chobani, LLC, Term Loan B		4.500%		1-Month LIBOR		3.500%		10/25/27		B–		199,307
		Food Products – 0.3%
	1,274	Hostess Brands, LLC, Term Loan		3.000%		3-Month LIBOR		2.250%		8/03/25		BB-		1,270,249
	479	Hostess Brands, LLC, Term Loan		3.000%		1-Month LIBOR		2.250%		8/03/25		BB-		478,028
	1,753	Total Food Products												1,748,277
		Health Care Providers & Services – 0.6%
	1,377	Gentiva Health Services, Inc., Term Loan		2.875%		1-Month LIBOR		2.750%		7/02/25		B+		1,375,203
	1,153	RegionalCare Hospital Partners Holdings, Inc., Term Loan B		3.854%		1-Month LIBOR		3.750%		11/16/25		B1		1,151,741
	1,482	Select Medical Corporation, Term Loan B		2.360%		1-Month LIBOR		2.250%		3/06/25		Ba2		1,471,345
	4,012	Total Health Care Providers & Services												3,998,289
		Health Care Technology – 0.2%
	1,170	Change Healthcare Holdings LLC, Term Loan B		3.500%		1-Month LIBOR		2.500%		3/01/24		B+		1,169,602
		Hotels, Restaurants & Leisure – 0.2%
	298	Caesars Resort Collection, LLC, Term Loan B1		4.604%		1-Month LIBOR		4.500%		7/20/25		B+		299,053
	497	IRB Holding Corp, Term Loan		4.250%		3-Month LIBOR		3.250%		12/15/27		B		498,084
	491	Scientific Games International, Inc., Term Loan B5		2.854%		1-Month LIBOR		2.750%		8/14/24		B+		488,185
	1,286	Total Hotels, Restaurants & Leisure												1,285,322
		Household Durables – 0.1%
	548	Weber-Stephen Products LLC, Term Loan B		4.000%		1-Month LIBOR		3.250%		10/30/27		B1		549,585

53

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon (7)		Reference Rate (7)		Spread (7)		Maturity (8)		Ratings (2)		Value
		Insurance – 0.5%
$	987	AssuredPartners Capital, Inc., Incremental Term Loan B		5.500%		1-Month LIBOR		4.500%		2/13/27		B1	$	990,833
	600	AssuredPartners Capital, Inc., Incremental Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		B1		602,025
	493	Hub International Limited, Term Loan B		4.000%		3-Month LIBOR		3.250%		4/25/25		B		493,180
	16	OneDigital Borrower LLC, Delayed Draw Term Loan, (9)		5.250%		3-Month LIBOR		5.250%		10/29/27		N/R		15,710
	483	OneDigital Borrower LLC, Term Loan		5.250%		3-Month LIBOR		4.500%		10/29/27		N/R		485,783
	492	USI, Inc., Repriced Term Loan		3.147%		3-Month LIBOR		3.000%		5/16/24		B		488,327
	3,071	Total Insurance												3,075,858
		Interactive Media & Services – 0.1%
	748	Rackspace Technology Global, Inc., Term Loan		3.500%		3-Month LIBOR		2.750%		2/09/28		B+		744,998
		Internet & Direct Marketing Retail – 0.1%
	474	CNT Holdings I Corp, Term Loan		4.500%		3-Month LIBOR		3.750%		11/08/27		B		474,590
		Internet Software & Services – 0.1%
	499	IGT Holding IV AB, Term Loan		4.250%		3-Month LIBOR		3.750%		3/29/28		B		501,244
		IT Services–0.3%
	1,770	NeuStar, Inc., Term Loan B5		5.500%		3-Month LIBOR		4.500%		8/08/24		B+		1,736,582
		Life Sciences Tools & Services – 0.4%
	323	Avantor Funding, Inc., Incremental Term Loan B4		3.250%		1-Month LIBOR		2.250%		11/06/27		BB+		323,879
	2,453	PPD, Inc., Initial Term Loan		2.750%		1-Month LIBOR		2.250%		1/13/28		Ba2		2,453,206
	2,776	Total Life Sciences Tools & Services												2,777,085
		Machinery – 0.2%
	750	Blount International Inc., Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		B2		753,281
	18	TK Elevator US Newco Inc, (WI/DD)		TBD		TBD		TBD		TBD		B+		17,890
	423	Vertical Midco GmbH, Term Loan B		4.478%		6-Month LIBOR		4.250%		7/31/27		B1		424,024
	1,191	Total Machinery												1,195,195
		Media – 0.1%
	298	Banijay Entertainment S.A.S, Term Loan		3.836%		1-Month LIBOR		3.750%		3/01/25		B1		297,129
	174	Cablevision Lightpath LLC, Term Loan B		3.750%		1-Month LIBOR		3.250%		12/01/27		B+		174,430
	472	Total Media												471,559
		Metals & Mining – 0.1%
	485	Zekelman Industries, Inc., Term Loan		2.092%		1-Month LIBOR		2.000%		1/19/27		BB		480,939
		Oil, Gas & Consumable Fuels – 0.1%
	247	Delek US Holdings, Inc., Incremental Term Loan B		6.500%		1-Month LIBOR		5.500%		3/30/25		BB+		248,418
	485	DT Midstream Inc., Term Loan B, (WI/DD)		TBD		TBD		TBD		TBD		Baa2		486,428
	732	Total Oil, Gas & Consumable Fuels												734,846

54

Principal Amount (000)		Description (1)	Coupon (7)		Reference Rate (7)		Spread (7)		Maturity (8)		Ratings (2)		Value
		Paper & Forest Products – 0.1%
$	868	Asplundh Tree Expert, LLC, Term Loan B		1.854%		1-Month LIBOR		1.750%		9/04/27		BBB–	$	866,566
		Pharmaceuticals – 0.7%
	762	Bausch Health Companies Inc., Term Loan B		3.104%		1-Month LIBOR		3.000%		6/02/25		BB		758,978
	1,428	Endo Luxembourg Finance Company I S.a r.l., Term Loan		5.750%		3-Month LIBOR		5.000%		3/25/28		B		1,382,326
	2,250	Jazz Financing Lux S.a.r.l., Term Loan		4.000%		1-Month LIBOR		3.500%		5/08/28		BB+		2,259,664
	500	Organon & Co, Term Loan		3.500%		3-Month LIBOR		3.000%		6/02/28		BB		501,147
	4,940	Total Pharmaceuticals												4,902,115
		Professional Services – 0.3%
	1,679	Dun & Bradstreet Corporation, Term Loan		3.345%		1-Month LIBOR		3.250%		2/08/26		BB+		1,672,778
		Semiconductors & Semiconductor Equipment – 0.1%
	892	Ultra Clean Holdings, Inc, Term Loan B		3.854%		1-Month LIBOR		3.750%		8/27/25		B1		894,874
		Software – 0.1%
	320	Camelot U.S. Acquisition 1 Co., Term Loan B		3.104%		1-Month LIBOR		3.000%		10/31/26		B1		319,164
	124	Ultimate Software Group Inc, Incremental Term Loan		4.000%		3-Month LIBOR		3.250%		5/03/26		B1		124,369
	444	Total Software												443,533
		Specialty Retail – 0.4%
	1,000	PetSmart, Inc., Term Loan B		4.500%		3-Month LIBOR		3.750%		2/12/28		BB–		1,002,000
	1,960	Staples, Inc., Term Loan		5.176%		3-Month LIBOR		5.000%		4/12/26		B		1,913,460
	2,960	Total Specialty Retail												2,915,460
		Technology Hardware, Storage & Peripherals – 0.2%
	331	Dell International LLC, Term Loan B		2.000%		1-Month LIBOR		1.750%		9/19/25		BBB–		331,165
	1,291	Western Digital Corporation, Term Loan B4		1.843%		1-Month LIBOR		1.750%		4/29/23		Baa2		1,292,855
	1,622	Total Technology Hardware, Storage & Peripherals												1,624,020
		Textiles, Apparel & Luxury Goods – 0.2%
	1,367	Samsonite International S.A., Term Loan B		1.854%		1-Month LIBOR		1.750%		4/25/25		Ba2		1,349,439
		Wireless Telecommunication Services – 0.1%
	1,000	GOGO Intermediate Holdings LLC, Term Loan B		4.500%		3-Month LIBOR		3.750%		4/28/28		B–		999,750
$	60,034	Total Variable Rate Senior Loan Interests (cost $59,556,189)												59,749,813
Principal Amount (000)		Description (1)					Coupon		Maturity		Ratings (2)		Value
		$1,000 PAR (OR SIMILAR) INSTITUTIONAL PREFERRED – 7.8%
		Automobiles – 0.5%
$	340	General Motors Financial Co Inc						5.700%		N/A (11)		BB+	$	380,800
	2,470	General Motors Financial Co Inc						5.750%		N/A (11)		BB+		2,688,323
	2,810	Total Automobiles												3,069,123

55

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Banks – 3.9%
$	1,195	Bank of America Corp		6.300%		N/A (11)		BBB+	$	1,378,922
	2,000	Bank of America Corp		6.100%		N/A (11)		BBB+		2,245,740
	1,000	Citigroup Inc		6.300%		N/A (11)		BBB–		1,075,700
	3,000	Citigroup Inc		5.000%		N/A (11)		BBB–		3,139,800
	2,000	CoBank ACB		6.250%		N/A (11)		BBB+		2,230,000
	2,000	Goldman Sachs Group Inc, (3)		3.800%		N/A (11)		BBB–		2,035,600
	750	Huntington Bancshares Inc/OH		5.625%		N/A (11)		Baa3		870,938
	2,125	JPMorgan Chase & Co		3.650%		N/A (11)		BBB+		2,127,975
	1,275	JPMorgan Chase & Co		5.000%		N/A (11)		BBB+		1,347,611
	1,797	KeyCorp		5.000%		N/A (11)		Baa3		2,000,780
	1,000	M&T Bank Corp		5.125%		N/A (11)		Baa2		1,101,240
	3,000	Truist Financial Corp		4.800%		N/A (11)		Baa2		3,150,000
	2,000	Truist Financial Corp		5.100%		N/A (11)		Baa2		2,247,500
	500	Wells Fargo & Co		5.875%		N/A (11)		Baa2		559,955
	23,642	Total Banks								25,511,761
		Consumer Finance – 0.8%
	1,500	Ally Financial Inc		4.700%		N/A (11)		BB–		1,553,550
	2,015	Capital One Financial Corp		3.950%		N/A (11)		Baa3		2,057,819
	1,500	Discover Financial Services		6.125%		N/A (11)		Ba2		1,683,300
	5,015	Total Consumer Finance								5,294,669
		Diversified Financial Services – 0.3%
	1,710	Voya Financial Inc, (3)		6.125%		N/A (11)		BBB–		1,846,800
		Electric Utilities – 0.2%
	1,500	Southern Co		4.000%		1/15/51		BBB		1,586,250
		Food Products – 0.5%
	2,780	Land O’ Lakes Inc, 144A		8.000%		N/A (11)		BB		2,985,025
		Insurance – 0.6%
	2,835	AXIS Specialty Finance LLC		4.900%		1/15/40		BBB		3,006,234
	1,185	MetLife Inc		3.850%		N/A (11)		BBB		1,245,731
	4,020	Total Insurance								4,251,965
		Multi-Utilities – 0.2%
	1,500	Sempra Energy		4.875%		N/A (11)		BBB–		1,627,500
		Oil, Gas & Consumable Fuels – 0.6%
	2,115	Enbridge Inc		5.750%		7/15/80		BBB–		2,358,225
	1,400	Energy Transfer LP		6.500%		N/A (11)		BB		1,427,300
	3,515	Total Oil, Gas & Consumable Fuels								3,785,525
		Trading Companies & Distributors – 0.1%
	825	AerCap Global Aviation Trust, 144A		6.500%		6/15/45		BB+		880,688

56

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Wireless Telecommunication Services – 0.1%
$	800	Network i2i Ltd, 144A		5.650%		N/A (11)		BB	$	857,000
$	48,117	Total $1,000 Par (or similar) Institutional Preferred (cost $48,840,206)								51,696,306
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		SOVEREIGN DEBT – 5.1%
		Bermuda – 0.2%
$	650	Bermuda Government International Bond, 144A		3.717%		1/25/27		A+	$	710,125
	230	Bermuda Government International Bond, 144A		4.750%		2/15/29		A+		267,536
	200	Bermuda Government International Bond, 144A		2.375%		8/20/30		A+		199,500
	1,080	Total Bermuda								1,177,161
		Brazil – 0.1%
	500	Brazilian Government International Bond		3.875%		6/12/30		Ba2		504,200
		Colombia – 0.2%
	750	Colombia Government International Bond		3.000%		1/30/30		Baa2		734,730
	850	Colombia Government International Bond		5.000%		6/15/45		Baa2		902,870
	1,600	Total Colombia								1,637,600
		Cote d’Ivoire – 0.2%
	1,506	Ivory Coast Government International Bond, 144A		5.750%		12/31/32		B+		1,506,515
		Dominican Republic – 0.3%
	1,000	Dominican Republic International Bond, 144A		6.875%		1/29/26		BB–		1,158,600
	12,000	Dominican Republic International Bond, 144A		9.750%		6/05/26		BB–		236,759
	600	Dominican Republic International Bond, 144A		4.875%		9/23/32		BB–		618,000
	13,600	Total Dominican Republic								2,013,359
		Egypt – 0.7%
	3,175	Egypt Government International Bond, 144A		5.577%		2/21/23		B+		3,333,661
	1,225	Egypt Government International Bond, 144A		7.053%		1/15/32		B+		1,255,013
	4,400	Total Egypt								4,588,674
		El Salvador – 0.1%
	975	El Salvador Government International Bond, 144A, (3)		6.375%		1/18/27		B+		879,938
		Ghana – 0.3%
	2,200	Ghana Government International Bond, 144A		8.125%		3/26/32		B		2,228,851
		Guatemala – 0.1%
	425	Guatemala Government Bond, 144A		4.900%		6/01/30		Ba1		478,125
		Indonesia – 0.2%
	250	Indonesia Government International Bond, 144A		4.625%		4/15/43		BBB		289,113
	850	Perusahaan Penerbit SBSN Indonesia III, 144A		4.400%		3/01/28		BBB		969,247
	1,100	Total Indonesia								1,258,360

57

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Iraq – 0.1%
$	437	Iraq International Bond, 144A		5.800%		1/15/28		N/R	$	423,189
		Israel – 0.1%
	550	State of Israel, Reg S		3.800%		5/13/60		AA–		622,679
		Jamaica – 0.1%
	420	Jamaica Government International Bond		6.750%		4/28/28		B+		489,825
		Jordan – 0.1%
	450	Jordan Government International Bond, 144A		5.750%		1/31/27		B+		483,021
		Kazakhstan – 0.2%
	850	Kazakhstan Government International Bond, 144A		4.875%		10/14/44		BBB		1,066,325
		Kenya – 0.2%
	1,000	Kenya Government International Bond, 144A		7.000%		5/22/27		B+		1,097,220
	225	Kenya Government International Bond, 144A		6.300%		1/23/34		B+		224,437
	1,225	Total Kenya								1,321,657
		Mexico – 0.3%
	850	Mexico Government International Bond		3.750%		1/11/28		Baa1		925,386
	1,000	Mexico Government International Bond		4.280%		8/14/41		Baa1		1,049,640
	1,850	Total Mexico								1,975,026
		Mongolia – 0.1%
	450	Mongolia Government International Bond, 144A		5.125%		4/07/26		B		479,307
	200	Mongolia Government International Bond, 144A, (WI/DD)		4.450%		7/07/31		B		196,184
	650	Total Mongolia								675,491
		Morocco – 0.1%
	850	Morocco Government International Bond, 144A		5.500%		12/11/42		BB+		964,852
		Nigeria – 0.1%
	500	Nigeria Government International Bond, 144A		6.500%		11/28/27		B2		530,000
		Oman – 0.1%
	250	Oman Government International Bond, 144A		6.750%		10/28/27		Ba3		280,000
	275	Oman Sovereign Sukuk Co, 144A		4.875%		6/15/30		Ba3		282,139
	525	Total Oman								562,139
		Pakistan – 0.1%
	665	Pakistan Government International Bond, 144A, (3)		8.250%		9/30/25		B3		735,550
		Panama – 0.1%
	600	Panama Bonos del Tesoro		3.362%		6/30/31		BBB		598,688
		Paraguay – 0.1%
	500	Paraguay Government International Bond, 144A		2.739%		1/29/33		Ba1		486,250
		Qatar – 0.2%
	850	Qatar Government International Bond, 144A		4.817%		3/14/49		AA–		1,093,312

58

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Romania – 0.0%
$	274	Romanian Government International Bond, 144A		4.375%		8/22/23		BBB–	$	295,510
		Saudi Arabia – 0.1%
	975	Saudi Government International Bond, 144A		3.750%		1/21/55		A1		1,029,116
		Serbia – 0.1%
	600	Serbia International Bond, 144A		2.125%		12/01/30		BB+		568,500
		South Africa – 0.2%
	1,260	Republic of South Africa Government International Bond		5.375%		7/24/44		Ba2		1,264,254
		Turkey – 0.1%
	750	Turkiye Ihracat Kredi Bankasi AS, 144A		5.750%		7/06/26		B+		743,203
		Ukraine – 0.1%
	450	Ukraine Government International Bond, 144A		7.750%		9/01/27		B		495,000
		Uruguay – 0.0%
	250	Uruguay Government International Bond		4.125%		11/20/45		BBB		294,493
		Uzbekistan – 0.1%
	500	Republic of Uzbekistan Bond, 144A		5.375%		2/20/29		BB–		558,750
	450	Republic of Uzbekistan Bond, 144A		3.700%		11/25/30		BB–		447,579
	950	Total Uzbekistan								1,006,329
$	43,817	Total Sovereign Debt (cost $32,889,939)								33,997,192
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		CONTINGENT CAPITAL SECURITIES – 4.2% (10)
		Banks – 3.5%
$	1,100	Banco Bilbao Vizcaya Argentaria SA		6.500%		N/A (11)		Ba2	$	1,197,625
	980	Banco Mercantil del Norte SA/Grand Cayman, 144A		6.750%		N/A (11)		Ba2		1,053,500
	2,600	Banco Santander SA, (3)		4.750%		N/A (11)		Ba1		2,631,200
	675	Bancolombia SA		4.625%		12/18/29		BB		685,975
	750	Bangkok Bank PCL/Hong Kong, 144A		5.000%		N/A (11)		Ba1		789,750
	1,725	Barclays PLC		6.125%		N/A (11)		BBB–		1,911,507
	2,500	BNP Paribas SA, 144A		6.625%		N/A (11)		BBB		2,738,675
	1,500	Credit Agricole SA, 144A		8.125%		N/A (11)		BBB		1,822,500
	595	Intesa Sanpaolo SpA, 144A		7.700%		N/A (11)		BB–		681,644
	1,000	Itau Unibanco Holding SA/Cayman Island, 144A		3.875%		4/15/31		B1		992,510
	1,500	Lloyds Banking Group PLC		7.500%		N/A (11)		Baa3		1,706,250
	2,000	Macquarie Bank Ltd/London, 144A, (3)		6.125%		N/A (11)		BB+		2,187,500
	1,450	Mizrahi Tefahot Bank Ltd, 144A, Reg S		3.077%		4/07/31		BBB		1,464,500
	2,000	Natwest Group PLC		8.000%		N/A (11)		BBB–		2,365,140
	900	Societe Generale SA, 144A		4.750%		N/A (11)		BB+		932,625
	21,275	Total Banks								23,160,901

59

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		Capital Markets – 0.7%
$	2,000	Credit Suisse Group AG, 144A		6.375%		N/A (11)		BB+	$	2,229,260
	1,500	Deutsche Bank AG		6.000%		N/A (11)		BB–		1,584,375
	1,000	UBS Group AG, 144A		7.000%		N/A (11)		BBB		1,101,250
	4,500	Total Capital Markets								4,914,885
$	25,775	Total Contingent Capital Securities (cost $26,210,478)								28,075,786
Principal Amount (000)		Description (1)			Optional Call Provisions (12)		Ratings (2)		Value
		MUNICIPAL BONDS – 0.8%
		New York – 0.6%
$	2,540	Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2020A, 2.512%, 7/01/33				No Opt. Call		Aa3	$	2,602,789
	870	New York Transportation Development Corporation, New York, Lease Revenue Bonds, Fuller Road Management Corporarion – Nanotechnology Facilities Project, Refunding Series 2020, 4.248%, 9/01/35				No Opt. Call		A+		964,256
	3,410	Total New York								3,567,045
		Ohio – 0.2%
	1,500	Cleveland, Ohio, Airport System Revenue Bonds, Taxable Series 2019A, 2.832%, 1/01/30				No Opt. Call		A2		1,575,045
$	4,910	Total Municipal Bonds (cost $4,910,000)								5,142,090
Shares		Description (1)	Coupon				Ratings (2)		Value
		$25 PAR (OR SIMILAR) RETAIL PREFERRED – 0.8%
		Diversified Financial Services – 0.3%
	14,600	AgriBank FCB, (13)		6.875%				BBB+	$	1,591,400
		Insurance – 0.5%
	49,000	Assurant Inc		5.250%				BB+		1,324,960
	70,000	Enstar Group Ltd, (3)		7.000%				BB+		2,070,600
		Total Insurance								3,395,560
		Total $25 Par (or similar) Retail Preferred (cost $4,435,000)								4,986,960
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 0.1%
$	1,000	United States Treasury Note/Bond		1.125%		2/15/31		Aaa	$	970,781
$	1,000	Total U.S. Government and Agency Obligations (cost $957,078)								970,781
		Total Long-Term Investments (cost $625,334,890)								646,978,261
Shares		Description (1)	Coupon						Value
		INVESTMENTS PURCHASED WITH COLLATERAL FROM SECURITIES LENDING – 1.1%
		MONEY MARKET FUNDS – 1.1%
	7,602,983	State Street Navigator Securities Lending Government Money Market Portfolio, (14)		0.020% (15)					$	7,602,983
		Total Investments Purchased with Collateral from Securities Lending (cost $7,602,983)								7,602,983

60

Principal Amount (000)		Description (1)	Coupon		Maturity		Value
		SHORT-TERM INVESTMENTS – 3.8%
		REPURCHASE AGREEMENTS – 3.8%
$	25,475	Repurchase Agreement with Fixed Income Clearing Corporation, dated 6/30/21, repurchase price $25,474,817, collateralized by $23,077,100, U.S. Treasury Notes, 0.125%, due 4/15/22, value $25,984,327		0.000%		7/01/21	$	25,474,817
		Total Short-Term Investments (cost $25,474,817)						25,474,817
		Total Investments (cost $658,412,690) – 102.5%						680,056,061
		Other Assets Less Liabilities – (2.5)% (16)						(16,853,408)
		Net Assets – 100%					$	663,202,653

Investments in Derivatives

Futures Contracts – Long

Description	Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation (Depreciation)		Variation Margin Receivable/ (Payable)
U.S. Treasury Ultra Bond		50		9/21	$	9,284,475	$	9,634,375	$	349,900	$	56,250

Futures Contracts – Short

Description	Number of Contracts			Expiration Date		Notional Amount			Value			Unrealized Appreciation (Depreciation)			Variation Margin Receivable/ (Payable)
U.S. Treasury 5-Year Note		(200	)		9/21	$	(24,773,053	)	$	(24,685,937	)	$	87,116		$	(12,500	)
U.S. Treasury Ultra 10-Year Note		(200	)		9/21		(29,054,786	)		(29,440,625	)		(385,839	)		(96,875	)
Total						$	(53,827,839	)	$	(54,126,562	)	$	(298,723	)	$	(109,375	)

61

Nuveen Strategic Income Fund (continued)

Portfolio of Investments    June 30, 2021

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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. Ratings are not covered by the report of independent registered public accounting firm.

(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 $7,388,244.

(4) Variable rate security. The rate shown is the coupon as of the end of the reporting period.

(5) Principal Amount (000) rounds to less than $1,000.

(6) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3.

(7) Senior loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate (Reference Rate) plus an assigned fixed rate (Spread). These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks. Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. The rate shown is the coupon as of the end of the reporting period.

(8) 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.

(9) Investment, or portion of investment, represents an outstanding unfunded senior loan commitment. See Notes to Financial Statements, Note 4 – Portfolio Securities and Investments in Derivatives for more information.

(10) Contingent Capital Securities (“CoCos”) are hybrid securities with loss absorption characteristics built into the terms of the security for the benefit of the issuer. For example, the terms may specify an automatic write-down of principal or a mandatory conversion into the issuer’s common stock under certain adverse circumstances, such as the issuer’s capital ratio falling below a specified level.

(11) Perpetual security. Maturity date is not applicable.

(12) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. Optional Call Provisions are not covered by the report of independent registered public accounting firm.

(13) For fair value measurement disclosure purposes, investment classified as Level 2. See Notes to Financial Statements, Note 3 – Investment Valuation and Fair Value Measurements for more information.

(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.

(15) The rate shown is the one-day yield as of the end of the reporting period.

(16) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as presented on the Statement of Assets and Liabilities, when applicable. The unrealized appreciation (depreciation) of OTC cleared and exchange-traded derivatives is recognized as part of the cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

I/O Interest only security

LIBOR London Inter-Bank Offered Rate

MDR Denotes investment is subject to dollar roll transactions.

N/A Not Applicable.

Reg S Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States.

TBA To be announced. Maturity date not known prior to settlement of this transaction.

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.

SOFR30A 30 Day Average Secured Overnight Financing Rate

WI/DD Purchased on a when-issued or delayed delivery basis.

See accompanying notes to financial statements.

62

Statement of Assets and Liabilities

June 30, 2021

	Credit Income		Strategic Income
Assets
Long-term investments, at value (cost $180,650,443 and $625,334,890, respectively)(1)	$	183,790,823	$	646,978,261
Investment purchased with collateral from securities lending, at value (cost approximates value)		4,981,019		7,602,983
Short-term investments, at value (cost approximates value)		5,452,369		25,474,817
Cash		1,319,375		6,119,358
Cash collateral at brokers for investments in futures contracts(2)		—		434,952
Receivable for:
Dividends		14,680		41,173
Interest		2,009,290		4,781,045
Investments sold		3,006,099		2,171,784
Reclaims		1,232		924
Shares sold		17,549		912,678
Variation margin on futures contracts		—		56,250
Other assets		83,196		112,430
Total assets		200,675,632		694,686,655
Liabilities
Cash overdraft denominated in foreign currencies (cost $5,179 and $9,840, respectively)		5,070		9,633
Payable for:
Collateral from securities lending program		4,981,019		7,602,983
Dividends		26,249		434,255
Investments purchased – regular settlement		2,930,868		7,050,257
Investments purchased – when issued/delayed-delivery settlement		4,817,611		14,495,115
Shares redeemed		446,334		946,583
Unfunded senior loans		15,625		15,625
Variation margin on futures contracts		—		109,375
Accrued expenses:
Management fees		84,035		210,390
Directors fees		47,536		73,082
12b-1 distribution and service fees		28,709		54,181
Other		187,657		482,523
Total liabilities		13,570,713		31,484,002
Net assets	$	187,104,919	$	663,202,653

(1) Includes securities loaned of $4,828,773 and 7,388,244 for Credit Income and Strategic Income, respectively.

(2) Cash pledged to collateralize the net payment obligations for investments in derivatives.

See accompanying notes to financial statements.

63

Statement of Assets and Liabilities (continued)

	Credit Income			Strategic Income
Class A Shares
Net assets	$	77,953,070		$	139,844,685
Shares outstanding		10,501,796			12,455,495
Net asset value (“NAV”) per share	$	7.42		$	11.23
Offering price per share (NAV per share plus maximum sales charge of 4.75% and 4.25%, respectively, of offering price)	$	7.79		$	11.73
Class C Shares
Net assets	$	15,101,132		$	30,992,794
Shares outstanding		2,037,061			2,774,704
NAV and offering price per share	$	7.41		$	11.17
Class R6 Shares
Net assets	$	—		$	67,688,593
Shares outstanding		—			6,003,550
NAV and offering price per share	$	—		$	11.27
Class I Shares
Net assets	$	94,050,717		$	424,676,581
Shares outstanding		12,626,338			37,813,138
NAV and offering price per share	$	7.45		$	11.23
Fund level net assets consist of:
Capital paid-in	$	312,799,204		$	679,865,115
Total distributable earnings		(125,694,285	)		(16,662,462	)
Fund level net assets	$	187,104,919		$	663,202,653
Authorized shares – per class		2 billion			2 billion
Par value per share	$	0.0001		$	0.0001

See accompanying notes to financial statements.

64

Statement of Operations

Year Ended June 30, 2021

	Credit Income			Strategic Income
Investment Income
Dividend	$	530,602		$	295,385
Interest		10,496,194			25,049,941
Securities lending income, net		18,763			15,248
Total investment income		11,045,559			25,360,574
Expenses
Management fees		1,144,307			3,476,532
12b-1 service fees – Class A Shares		198,187			311,084
12b-1 distribution and service fees – Class C Shares		191,715			346,670
12b-1 distribution and service fees – Class R3 Shares1		1,129			12,296
Shareholder servicing agent fees		113,863			479,595
Interest expense		17,357			6,475
Custodian fees		80,934			172,727
Directors fees		4,999			16,809
Professional fees		126,173			108,373
Shareholder reporting expenses		90,575			91,989
Federal and state registration fees		84,896			114,675
Other		10,706			17,834
Total expenses before fee waiver/expense reimbursement		2,064,841			5,155,059
Fee waiver/expense reimbursement		(232,152	)		(731,386	)
Net expenses		1,832,689			4,423,673
Net investment income (loss)		9,212,870			20,936,901
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments and foreign currency		9,601,884			9,928,743
Futures contracts		—			(1,154,722	)
Swaps		—			(20,553	)
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		9,220,305			21,564,129
Futures contracts		—			160,985
Net realized and unrealized gain (loss)		18,822,189			30,478,582
Net increase (decrease) in net assets from operations	$	28,035,059		$	51,415,483

1 Class R3 Shares converted to Class A Shares at the close of business on June 4, 2021, and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds.

See accompanying notes to financial statements.

65

Statement of Changes in Net Assets

	Credit Income						Strategic Income
	Year Ended 6/30/21			Year Ended 6/30/20			Year Ended 6/30/21			Year Ended 6/30/20
Operations
Net investment income (loss)	$	9,212,870		$	12,182,610		$	20,936,901		$	22,645,297
Net realized gain (loss) from:
Investments and foreign currency		9,601,884			(11,937,543	)		9,928,743			7,520,443
Forward foreign currency contracts		—			—			—			(25,415	)
Futures contracts		—			—			(1,154,722	)		6,619,928
Swaps		—			121,582			(20,553	)		394,660
Change in net unrealized appreciation (depreciation) of:
Investments and foreign currency		9,220,305			(7,715,002	)		21,564,129			(14,138,360	)
Futures contracts		—			—			160,985			(893,413	)
Swaps		—			(25,642	)		—			242,818
Net increase (decrease) in net assets from operations		28,035,059			(7,373,995	)		51,415,483			22,365,958
Distributions to Shareholders
Dividends:
Class A Shares		(3,571,099	)		(5,570,100	)		(3,716,215	)		(4,779,380	)
Class C Shares		(728,420	)		(1,254,480	)		(790,131	)		(1,125,729	)
Class R3 Shares1		(9,581	)		(13,351	)		(69,107	)		(97,693	)
Class R6 Shares		—			—			(2,233,938	)		(2,494,336	)
Class I Shares		(4,404,641	)		(4,571,241	)		(13,610,712	)		(15,555,242	)
Return of capital:
Class A Shares		—			(439,476	)		—			—
Class C Shares		—			(116,299	)		—			—
Class R3 Shares1		—			(1,106	)		—			—
Class R6 Shares		—			—			—			—
Class I Shares		—			(345,576	)		—			—
Decrease in net assets from distributions to shareholders		(8,713,741	)		(12,311,629	)		(20,420,103	)		(24,052,380	)
Fund Share Transactions
Proceeds from sale of shares		160,030,174			200,974,291			262,293,562			277,348,570
Proceeds from shares issued to shareholders due to reinvestment of distributions		8,252,382			11,152,874			14,543,140			16,172,786
		168,282,556			212,127,165			276,836,702			293,521,356
Cost of shares redeemed		(186,625,700	)		(295,499,711	)		(241,434,814	)		(277,115,029	)
Net increase (decrease) in net assets from Fund share transactions		(18,343,144	)		(83,372,546	)		35,401,888			16,406,327
Net increase (decrease) in net assets		978,174			(103,058,170	)		66,397,268			14,719,905
Net assets at the beginning of period		186,126,745			289,184,915			596,805,385			582,085,480
Net assets at the end of period	$	187,104,919		$	186,126,745		$	663,202,653		$	596,805,385

1 Class R3 Shares converted to Class A Shares at the close of business on June 4, 2021, and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds.

See accompanying notes to financial statements.

66

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67

Financial Highlights

Credit Income

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Year Ended June 30,	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			Net Investment Income			From Accumulated Net Realized Gains		Return of Capital			Total			Ending NAV
Class A (8/01)
2021	$	6.69	$	0.34	$	0.71		$	1.05		$	(0.32	)	$	—	$	—		$	(0.32	)	$	7.42
2020		7.44		0.38		(0.75	)		(0.37	)		(0.35	)		—		(0.03	)		(0.38	)		6.69
2019		7.51		0.46		(0.04	)		0.42			(0.49	)		—		—			(0.49	)		7.44
2018		7.80		0.52		(0.28	)		0.24			(0.53	)		—		—			(0.53	)		7.51
2017		7.22		0.54		0.57			1.11			(0.53	)		—		—			(0.53	)		7.80
Class C (8/01)
2021		6.69		0.29		0.70			0.99			(0.27	)		—		—			(0.27	)		7.41
2020		7.43		0.33		(0.74	)		(0.41	)		(0.30	)		—		(0.03	)		(0.33	)		6.69
2019		7.50		0.40		(0.04	)		0.36			(0.43	)		—		—			(0.43	)		7.43
2018		7.79		0.46		(0.28	)		0.18			(0.47	)		—		—			(0.47	)		7.50
2017		7.21		0.49		0.57			1.06			(0.48	)		—		—			(0.48	)		7.79
Class I (8/01)
2021		6.71		0.36		0.72			1.08			(0.34	)		—		—			(0.34	)		7.45
2020		7.47		0.40		(0.76	)		(0.36	)		(0.37	)		—		(0.03	)		(0.40	)		6.71
2019		7.54		0.48		(0.04	)		0.44			(0.51	)		—		—			(0.51	)		7.47
2018		7.82		0.54		(0.27	)		0.27			(0.55	)		—		—			(0.55	)		7.54
2017		7.24		0.56		0.57			1.13			(0.55	)		—		—			(0.55	)		7.82

68

			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 Investment Income (Loss)			Expenses			Net Investment Income (Loss)			Portfolio Turnover Rate(d)
	16.01	%	$	77,953		1.12	%		4.63	%		1.00	%		4.75	%		196	%
	(5.15	)		82,545		1.12			5.19			1.00			5.31			80
	5.86			151,673		1.01			6.17			1.00			6.19			113
	3.16			126,376		1.04			6.66			1.00			6.70			126
	15.75			136,977		1.01			7.03			1.01			7.03			155
	15.03			15,101		1.87			3.89			1.75			4.02			196
	(5.75	)		22,612		1.87			4.46			1.75			4.58			80
	5.04			35,655		1.77			5.44			1.75			5.46			113
	2.37			41,121		1.80			5.96			1.75			6.00			126
	14.93			47,698		1.76			6.32			1.76			6.32			155
	16.40			94,051		0.87			4.86			0.75			4.99			196
	(5.03	)		80,728		0.86			5.36			0.75			5.47			80
	6.10			101,560		0.76			6.44			0.75			6.45			113
	3.52			139,777		0.79			6.91			0.75			6.95			126
	15.97			200,310		0.75			7.31			0.76			7.31			155

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

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

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

69

Financial Highlights (continued)

Strategic Income

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Class (Commencement Date) Year Ended June 30,	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			Net Investment Income			From Accumulated Net Realized Gains		Return of Capital			Total			Ending NAV
Class A (2/00)
2021	$	10.69	$	0.34	$	0.53		$	0.87		$	(0.33	)	$	—	$	—		$	(0.33	)	$	11.23
2020		10.60		0.36		0.12			0.48			(0.39	)		—		—			(0.39	)		10.69
2019		10.17		0.40		0.38			0.78			(0.35	)		—		—			(0.35	)		10.60
2018		10.65		0.36		(0.43	)		(0.07	)		(0.21	)		—		(0.20	)		(0.41	)		10.17
2017		10.52		0.44		0.22			0.66			(0.29	)		—		(0.24	)		(0.53	)		10.65
Class C (2/00)
2021		10.64		0.26		0.52			0.78			(0.25	)		—		—			(0.25	)		11.17
2020		10.55		0.28		0.12			0.40			(0.31	)		—		—			(0.31	)		10.64
2019		10.12		0.32		0.39			0.71			(0.28	)		—		—			(0.28	)		10.55
2018		10.59		0.28		(0.42	)		(0.14	)		(0.13	)		—		(0.20	)		(0.33	)		10.12
2017		10.46		0.35		0.23			0.58			(0.21	)		—		(0.24	)		(0.45	)		10.59
Class R6 (1/15)
2021		10.73		0.38		0.53			0.91			(0.37	)		—		—			(0.37	)		11.27
2020		10.64		0.40		0.12			0.52			(0.43	)		—		—			(0.43	)		10.73
2019		10.20		0.44		0.38			0.82			(0.38	)		—		—			(0.38	)		10.64
2018		10.67		0.39		(0.42	)		(0.03	)		(0.24	)		—		(0.20	)		(0.44	)		10.20
2017		10.52		0.48		0.23			0.71			(0.32	)		—		(0.24	)		(0.56	)		10.67
Class I (2/00)
2021		10.69		0.37		0.53			0.90			(0.36	)		—		—			(0.36	)		11.23
2020		10.60		0.39		0.12			0.51			(0.42	)		—		—			(0.42	)		10.69
2019		10.17		0.42		0.39			0.81			(0.38	)		—		—			(0.38	)		10.60
2018		10.65		0.38		(0.42	)		(0.04	)		(0.24	)		—		(0.20	)		(0.44	)		10.17
2017		10.51		0.46		0.24			0.70			(0.32	)		—		(0.24	)		(0.56	)		10.65

70

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waive/Reimbursement						Ratios to Average Net Assets After Waive/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Investment Income (Loss)			Expenses			Net Investment Income (Loss)			Portfolio Turnover Rate(d)
	8.25	%	$	139,845		0.95	%		2.96	%		0.84	%		3.07	%		128	%
	4.63			101,886		0.97			3.28			0.84			3.42			62
	7.89			87,084		0.96			3.79			0.84			3.90			54
	(0.70	)		106,805		0.93			3.31			0.83			3.41			124
	6.43			137,072		0.93			4.02			0.83			4.12			135
	7.39			30,993		1.70			2.21			1.59			2.33			128
	3.84			37,285		1.72			2.58			1.59			2.71			62
	7.11			42,024		1.71			3.03			1.59			3.15			54
	(1.40	)		59,612		1.68			2.56			1.58			2.66			124
	5.63			76,513		1.68			3.25			1.58			3.35			135
	8.59			67,689		0.62			3.28			0.51			3.40			128
	4.96			59,099		0.63			3.64			0.50			3.77			62
	8.24			50,127		0.62			4.14			0.50			4.26			54
	(0.38	)		46,588		0.60			3.65			0.50			3.75			124
	6.86			8,995		0.60			4.35			0.51			4.45			135
	8.51			424,677		0.70			3.21			0.59			3.32			128
	4.86			395,502		0.72			3.57			0.59			3.71			62
	8.15			400,059		0.71			4.04			0.59			4.15			54
	(0.47	)		493,098		0.68			3.56			0.58			3.67			124
	6.77			540,368		0.68			4.22			0.58			4.32			135

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

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

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 – Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period.

See accompanying notes to financial statements.

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Notes to Financial Statements

1. General Information

Trust and Fund Information

Nuveen Investment Funds, Inc. (the “Trust”) is an open-end management investment company registered under the Investment Company Act of 1940 (the “1940 Act”), as amended. The Trust is comprised of Nuveen Credit Income Fund (“Credit Income”) and Nuveen Strategic Income Fund (“Strategic Income”) (each a “Fund” and collectively, the “Funds”), as diversified funds, among others. The Trust was incorporated in the State of Maryland on August 20, 1987.

The end of the reporting period for the Funds is June 30, 2021, and the period covered by these Notes to Financial Statements is the fiscal year ended June 30, 2021 (the “current fiscal period”).

Investment Adviser and Sub-Adviser

The Funds’ investment adviser is Nuveen Fund Advisors, LLC (the “Adviser”), a subsidiary of Nuveen, LLC (“Nuveen”). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds’ portfolios, manages the Funds’ business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the “Sub-Adviser”), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.

Share Classes and Sales Charges

Class A Shares are generally sold with an up-front sales charge. Class A Share purchases of $1 million or more are sold at net asset value (“NAV”) without an up-front sales charge but may be subject to a contingent deferred sales charge (“CDSC”) of 1% if redeemed within eighteen months of purchase. Class C Shares are sold without an up-front sales charge but are subject to CDSC of 1% if redeemed within twelve months of purchase. Class C Shares automatically convert to Class A Shares eight years (ten years prior to March 1, 2021) after purchase. Class R6 and I Shares are sold without an up-front sales charge. Class R3 Shares were also sold without an up-front sales charge and converted to Class A Shares after the close of business on June 4, 2021.

Other Matters

The outbreak of the novel coronavirus (“COVID-19”) and subsequent global pandemic began significantly impacting the U.S. and global financial markets and economies during the calendar ended March 31, 2020. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Funds’ normal course of business, results of operations, investments, and cash flows will depend on future developments, which are highly uncertain and difficult to predict. Management continues to monitor and evaluate this situation.

2. Significant Accounting Policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. Each Fund is an investment company and follows the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services – Investment Companies. The NAV for financial reporting purposes may differ from the NAV for processing security and shareholder transactions. The NAV for financial reporting purposes includes security and shareholder transactions through the date of the report. Total return is computed based on the NAV used for processing security and shareholder transactions. The following is a summary the significant accounting policies consistently followed by the Funds.

Compensation

The Trust pays no compensation directly to those of its trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Trust from the Adviser or its affiliates. The Funds’ Board of Directors (the “Board”) has adopted a deferred compensation plan for independent directors that enables directors 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.

Distributions to Shareholders

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

72

Foreign Currency Transactions and Translation

The books and records of the Funds are maintained in U.S. dollars. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollars at the end of each day. Purchases and sales of securities, income and expenses are translated into U.S. dollars at each prevailing exchange rate on the respective dates of the transactions.

Net realized foreign currency gains and losses resulting from changes in exchange rates associated with (i) foreign currency, (ii) investments and (iii) derivatives 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 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 (i) investments and (ii) other assets and liabilities 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 investments in derivatives are recognized as a component of the respective derivative’s related “Change in net unrealized appreciation (depreciation)” on the Statement of Operations, when applicable.

Indemnifications

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

Investments and Investment Income

Securities transactions are accounted for as of the trade date for financial reporting purposes. Trade date for senior and subordinated loans purchased in the “primary market” is considered the date on which the loan allocations are determined. Trade date for senior and subordinated loans purchased in the “secondary market” is the date on which the transaction is entered into. Realized gains and losses on securities transactions are based upon the specific identification method. Dividend income is recorded on the ex-dividend date or, for certain foreign securities, when information is available. Non-cash dividends received in the form of stock, if any, are recognized on the ex-dividend date and recorded at fair value. Interest income, which is recorded on an accrual basis and includes accretion of discounts and the amortization of premium for financial reporting purposes. Interest income also reflects payment-in-kind (“PIK”) interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash. Securities lending income is comprised of fees earned from borrowers and income earned on cash collateral investments.

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 value of settled shares of each class. Expenses directly attributable to a class of shares are recorded to the specific class. 12b-1 distribution and service fees are allocated on a class-specific basis.

Sub-transfer agent fees and similar fees, which are recognized as a component of “Shareholder servicing agent fees” on the Statement of Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

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

Netting Agreements

In the ordinary course of business, the Funds may enter into transactions subject to enforceable master repurchase agreements, International Swaps and Derivative Association, Inc. (ISDA) master agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis.

The Funds’ investments subject to netting agreements as of the end of the reporting period, if any, are further described in Note 4 – Portfolio Securities and Investments in Derivatives.

New Accounting Pronouncements and Rule Issuances

Reference Rate Reform

In March 2020, FASB issued Accounting Standards Update (ASU) 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The main objective of the new guidance is to provide relief to companies that will be impacted by the expected change in benchmark interest rates, when participating banks will no longer be required to submit London Interbank Offered Rate (LIBOR) quotes by the UK Financial Conduct Authority (FCA). The new guidance allows companies to, provided the only change to existing contracts are a change to an approved benchmark interest rate, account for modifications as a continuance of the existing contract without additional analysis. For new and existing contracts, the Funds may elect to apply the amendments as of March 12, 2020 through December 31, 2022. Management has not yet elected to apply

73

Notes to Financial Statements (continued)

the amendments, is continuously evaluating the potential effect a discontinuation of LIBOR could have on the Funds’ investments and has currently determined that it is unlikely the ASU’s adoption will have a significant impact on the Funds’ financial statements and various filings.

Securities and Exchange Commission (“SEC”) Adopts New Rules to Modernize Fund Valuation Framework

In December 2020, the SEC voted to adopt a new rule governing fund valuation practices. New Rule 2a-5 under the 1940 Act establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of Section 2(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotation are not readily available. The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth the recordkeeping requirements associated with fair value determinations. Finally, the SEC is rescinding previously issued guidance on related issues, including the role of a board in determining fair value and the accounting and auditing of fund investments. Rule 2a-5 and Rule 31a-4 became effective on March 8, 2021, with a compliance date of September 8, 2022. A fund may voluntarily comply with the rules after the effective date, and in advance of the compliance date, under certain conditions. Management is currently assessing the impact of these provisions on the Funds’ financial statements.

3. Investment Valuation and Fair Value Measurements

The Funds’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 –	Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –	Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3 –	Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

A description of the valuation techniques applied to the Funds’ major classifications of assets and liabilities measured at fair value follows:

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their sale price at the official close of business of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade on a foreign exchange are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. To the extent these securities are actively traded and that valuation adjustments are not applied, they are generally classified as Level 1. If there is no official close of business, then the latest available sale price is utilized. If no sales are reported, then the mean of the latest available bid and ask prices is utilized and these securities are generally classified as Level 2.

Investments in investment companies are valued at their respective NAVs on the valuation date and are generally classified as Level 1.

Prices of fixed-income securities are generally provided by an independent pricing service (“pricing service”) approved by the Board. 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.

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

Futures contracts are valued using the closing settlement price or, in the absence of such a price, the last traded price and are generally classified as Level 1.

Any portfolio security or derivative for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. 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. To the extent the inputs are observable and timely, the values would be classified as Level 2 of the fair value hierarchy; otherwise they would be classified as Level 3.

74

The following table summarizes the market value of the Funds’ investments as of the end of the reporting period, based on the inputs used to value them:

Credit Income	Level 1		Level 2			Level 3			Total
Long-Term Investments*:
Corporate Bonds	$	—	$	105,277,827		$	5	**	$	105,277,832
Asset-Backed and Mortgage-Backed Securities		—		35,146,237			—			35,146,237
Variable Rate Senior Loan Interests		—		22,622,985			—			22,622,985
Sovereign Debt		—		9,026,336			—			9,026,336
Contingent Capital Securities		—		5,677,304			—			5,677,304
$1,000 Par (or similar) Institutional Preferred		—		3,856,010			—	***		3,856,010
$25 Par (or similar) Retail Preferred		2,184,030		—			—			2,184,030
Common Stocks		—		—			89	**		89
Investments Purchased with Collateral from Securities Lending		4,981,019		—			—			4,981,019
Short-Term Investments:
Repurchase Agreements		—		5,452,369			—			5,452,369
Total	$	7,165,049	$	187,059,068		$	94		$	194,224,211
Strategic Income
Long-Term Investments*:
Corporate Bonds		—	$	266,352,395		$	—		$	266,352,395
Asset-Backed and Mortgage-Backed Securities		—		193,669,091			2,337,847	**		196,006,938
Variable Rate Senior Loan Interests		—		59,749,813			—			59,749,813
$1,000 Par (or similar) Institutional Preferred		—		51,696,306			—			51,696,306
Sovereign Debt		—		33,997,192			—			33,997,192
Contingent Capital Securities		—		28,075,786			—			28,075,786
Municipal Bonds		—		5,142,090			—			5,142,090
$25 Par (or similar) Retail Preferred		3,395,560		1,591,400	**		—			4,986,960
U.S. Government and Agency Obligations				970,781			—			970,781
Investments Purchased with Collateral from Securities Lending		7,602,983		—			—			7,602,983
Short-Term Investments:
Repurchase Agreements		—		25,474,817			—			25,474,817
Investments in Derivatives:
Futures Contracts****		51,177		—			—			51,177
Total	$	11,049,720	$	666,719,671		$	2,337,847		$	680,107,238

* Refer to the Fund’s Portfolio of Investments for industry, state and country classifications, where applicable.

** Refer to the Fund’s Portfolio of Investments for securities classified as Level 2 and/or Level 3, where applicable.

*** Refer to the Fund’s Portfolio of Investments for securities classified as Level 3. Value equals zero as of the end of the reporting period.

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

4. Portfolio Securities and Investments in Derivatives

Portfolio Securities

Unfunded Commitments

Pursuant to the terms of certain of the variable rate senior loan agreements, the Funds may have unfunded senior loan commitments. Each Fund will maintain with its custodian, cash, liquid securities and/or liquid senior loans having an aggregate value at least equal to the amount of unfunded senior loan commitments. As of the end of the reporting period, the Funds’outstanding unfunded senior loan commitments were as follows:

	Credit Income	Strategic Income
Outstanding unfunded senior loan commitments	$15,625	$	15,625

Participation Commitments

With respect to the senior loans held in each Fund’s portfolio, the Funds may: 1) invest in assignments; 2) act as a participant in primary lending syndicates; or 3) invest in participations. If a Fund purchases a participation of a senior loan interest, the Fund would typically enter into a contractual agreement with the lender or other third party selling the participation, rather than directly with the borrower. As such, the Fund not only assumes the credit risk of the borrower, but also that of the selling participant or other persons interpositioned between the Fund and the borrower. As of the end of the reporting period, the Funds had no such outstanding participation commitments.

75

Notes to Financial Statements (continued)

Repurchase Agreements

In connection with transactions in repurchase agreements, it is each 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.

The following table presents the repurchase agreements for the Funds that are subject to netting agreements as of the end of the reporting period, and the collateral delivered related to those repurchase agreements.

Fund	Counterparty	Short-Term Investments, at Value		Collateral Pledged (From) Counterparty
Credit Income	Fixed Income Clearing Corporation	$	5,452,369	$	(5,561,435	)
Strategic Income	Fixed Income Clearing Corporation		25,474,817		(25,984,327	)

Securities Lending

Each Fund may lend securities representing up to one-third of the value of its total assets to broker-dealers, banks, and other institutions in order to generate additional income. When loaning securities, the Fund retains the benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. The resulting loans are continuous, can be recalled at any time, and have no set maturity. Effective July 15, 2020 each Fund terminated its securities lending agreement with U.S. Bank National Association (“U.S. Bank”), which served as the securities lending agent from the beginning of the current fiscal period through such termination date. Subsequently, each Fund entered into a securities lending agency agreement that became effective on August 14, 2020 with its custodian, State Street Bank and Trust Company (“State Street”), which serves as the Funds’ current securities lending agent (U.S. Bank and State Street are collectively and individually, the “Agent”).

When a Fund loans its portfolio securities, it will receive, at the inception of each loan, cash collateral equal to an amount not less than 100% of the market value of the loaned securities. The actual percentage of the cash collateral will vary depending upon the asset type of the loaned securities. Collateral for the loaned securities is invested in a government money market vehicle maintained by the Agent, which is subject to the requirements of Rule 2a-7 under the 1940 Act. The value of the loaned securities and the liability to return the cash collateral received are recognized on the Statement of Assets and Liabilities. If the market value of the loaned securities increases, the borrower must furnish additional collateral to the Fund, which is also recognized on the Statement of Assets and Liabilities. Securities out on loan are subject to termination at any time at the option of the borrower or the Fund. Upon termination, the borrower is required to return to the Fund securities identical to the securities loaned. During the term of the loan, the Fund bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities have not been returned.

Securities lending income recognized by a Fund consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the Agent. Such income is recognized on the Statements of Operations.

As of the end of the reporting period, the total value of the loaned securities and the total value of collateral received were as follows:

Fund	Asset Class out on Loan	Long-Term Investments, at Value		Total Collateral Received
Credit Income	$25 Par (or similar) Retail Preferred	$	124,725	$	126,975
	Corporate Bonds		4,184,912		4,307,122
	Sovereign Debt		519,136		546,922
Total		$	4,828,773	$	4,981,019
Strategic Income	$25 Par (or similar) Retail Preferred	$	316,308	$	323,128
	$1,000 Par (or similar) Institutional Preferred		20,706		21,000
	Contingent Capital Securities		580,908		592,765
	Corporate Bonds		5,317,731		5,457,640
	Sovereign Debt		1,152,591		1,208,450
Total		$	7,388,244	$	7,602,983

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.

76

Investment Transactions

Long-term purchases and sales (including maturities but excluding investments purchased with collateral from securities lending and derivative transactions) during the current fiscal period were as follows:

	Credit Income		Strategic Income
Purchases:
Investment securities	$	359,530,953	$	834,803,247
U.S. Government and agency obligations		2,808,000		1,745,460
Sales and maturities:
Investment securities		383,128,308		810,672,425

The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation during this period. The Funds have earmarked securities in their portfolios with a current value at least equal to the amount of the when-issued/ delayed-delivery purchase commitments. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the reporting period, such amounts are recognized on the Statement of Assets and Liabilities.

Investments in Derivatives

Each Fund is authorized to invest in certain derivative instruments. 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.

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 “Cash collateral at brokers for investments in 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 Fund’s account with an amount equal to appreciation and conversely if a Fund has unrealized depreciation the clearing broker would debit the 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.

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 current fiscal period, Strategic Income used U.S. Treasury futures as part of their overall portfolio construction strategy to manage portfolio duration and yield curve exposure.

The average notional amount of futures contracts outstanding during the current fiscal period was as follows:

	Strategic Income
Average notional amount of futures contracts outstanding*	$	69,808,191

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

77

Notes to Financial Statements (continued)

The following table presents the fair value of all futures contracts held by the Funds as of the end of the reporting period, 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
		Asset Derivatives			(Liability) Derivatives
Underlying Risk Exposure	Derivative Instrument	Location	Value		Location	Value
Strategic Income
Interest Rate	Futures contracts	Receivable for variation margin on futures contracts*	$	349,900	Payable for variation margin on futures contracts*	$	(298,723	)

* Value represents the cumulative unrealized appreciation (depreciation) of futures contracts as reported in the Fund’s Portfolio of Investments and not the asset and/or liability derivatives location as described in the table above.

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on futures contracts on the Statement of Operations during the current fiscal period, and the primary underlying risk exposure.

Fund	Underlying Risk Exposure	Derivative Instrument	Net Realized Gain (Loss) from Futures Contracts			Change in Net Unrealized Appreciation (Depreciation) of Futures Contracts
Strategic Income	Interest rate	Futures contracts	$	(1,154,722	)	$	160,985

Credit Default Swap Contracts

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. When a Fund has bought (sold) protection in a credit default swap upon occurrence of a specific credit event with respect to the underlying referenced entity, the Fund will either (i) deliver (receive) that security, or an equivalent amount of cash, from the counterparty in exchange for receipt (payment) of the notional amount to the counterparty, or (ii) receive (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 (delivered) and the notional amount delivered (received) is recorded as a realized gain or loss. Payments paid (received) at the beginning of the measurement period are recognized as a component of “Credit default swaps premiums paid and/or received” on the Statement of Assets and Liabilities, when applicable.

Credit default swap contracts are valued daily. 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.

For over-the-counter (“OTC”) swaps not cleared through a clearing house (“OTC Uncleared”), the daily change in the market value of the swap contract, along with any daily interest fees accrued, are recognized as components of “Unrealized appreciation or depreciation on credit default swaps” on the Statement of Assets and Liabilities.

Upon the execution of an OTC swap cleared through a clearing house (“OTC Cleared”), 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 swap contracts, if any, is recognized as “Cash collateral at brokers for investments in swaps” on the Statement of Assets and Liabilities. Investments in OTC Cleared swaps obligate a Fund and the clearing broker to settle monies on a daily basis representing changes in the prior day’s “mark-to-market” of the swap. If a Fund has unrealized appreciation, the clearing broker would credit the Fund’s account with an amount equal to the appreciation and conversely if a Fund has unrealized depreciation, the clearing broker will debit a Fund’s account with an amount equal to the depreciation. These daily cash settlements are also known as “variation margin.” Variation margin for OTC Cleared swaps is recognized as a receivable and/or payable for “Variation margin on swap contracts” on the Statement of Assets and Liabilities. Upon the execution of an OTC Uncleared swap, neither the Fund nor the counterparty is required to deposit initial margin as the trades are recorded bilaterally between both parties to the swap contract, and the terms of the variation margin are subject to a predetermined threshold negotiated by the Fund and the counterparty. Variation margin for OTC Uncleared swaps is recognized as a component of “Unrealized appreciation or depreciation on credit default swaps” as described in the preceding paragraph. The maximum potential amount of future payments the Fund could incur as a buyer or 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 current fiscal period, Strategic Income used credit default swaps to hedge a portion of the fund’s high yield credit risk exposure.

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The average notional amount of credit default swap contacts outstanding during the current fiscal period was as follows:

	Strategic Income
Average notional amount of credit default swap contracts outstanding*	$	—	**

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

** The Fund invested in credit default swap contracts during the fiscal period. However, the Fund did not hold any such positions at the beginning of the fiscal period or at the end of each fiscal quarter within the current fiscal period and therefore are not included as part of this calculation.

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on swap contracts on the Statement of Operations during the current fiscal period, and the primary underlying risk exposure.

Fund	Underlying Risk Exposure	Derivative Instrument	Net Realized Gain (Loss) from Swaps			Change in Net Unrealized Appreciation (Depreciation) of Swaps
Strategic Income	Credit	Swaps	$	(20,553	)	$	—

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.

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.

5. Fund Shares

Transactions in Fund shares during the current and prior fiscal period were as follows:

	Year Ended 6/30/21						Year Ended 6/30/20
Credit Income	Shares			Amount			Shares			Amount
Shares sold:
Class A		4,713,474		$	33,650,595			7,396,878		$	52,078,686
Class A – automatic conversion of Class C Shares		2,903			21,166			92,554			686,361
Class A – automatic conversion of Class R3 Shares		33,499			247,561			—			—
Class C		161,941			1,164,088			497,953			3,579,508
Class R31		3,490			25,745			19,134			146,008
Class I		17,507,057			124,921,019			20,387,966			144,483,728
Shares issued to shareholders due to reinvestment of distributions:
Class A		463,537			3,331,198			795,086			5,715,682
Class C		100,501			720,396			180,158			1,293,044
Class R31		1,222			8,957			1,891			13,827
Class I		579,184			4,191,831			571,525			4,130,321
		23,566,808			168,282,556			29,943,145			212,127,165
Shares redeemed:
Class A		(7,044,878	)		(50,346,706	)		(16,335,525	)		(117,355,977	)
Class C		(1,604,428	)		(11,502,815	)		(2,000,325	)		(14,206,944	)
Class C – automatic conversion of Class A Shares		(2,907	)		(21,166	)		(92,439	)		(686,361	)
Class R31		(7,230	)		(52,700	)		(24,891	)		(187,766	)
Class R3 – automatic conversion to Class A Shares		(32,790	)		(247,561	)		—			—
Class I		(17,488,589	)		(124,454,752	)		(22,534,634	)		(163,062,663	)
		(26,180,822	)		(186,625,700	)		(40,987,814	)		(295,499,711	)
Net increase (decrease)		(2,614,014	)	$	(18,343,144	)		(11,044,669	)	$	(83,372,546	)

79

Notes to Financial Statements (continued)

	Year Ended 6/30/21						Year Ended 6/30/20
Strategic Income	Shares			Amount			Shares			Amount
Shares sold:
Class A		4,300,992		$	47,607,779			10,702,738		$	114,985,580
Class A – automatic conversion of Class C Shares		11,336			125,494			3,361			35,987
Class A – automatic conversion of Class R3 Shares		166,701			1,860,249			—			—
Class C		654,656			7,202,856			706,305			7,434,086
Class R31		56,077			624,947			111,810			1,217,507
Class R6		3,340,178			37,090,284			3,339,512			35,915,057
Class I		15,118,572			167,781,953			11,085,334			117,760,353
Shares issued to shareholders due to reinvestment of distributions:
Class A		281,391			3,122,654			404,976			4,323,082
Class C		67,933			749,356			91,912			973,879
Class R31		5,023			55,799			6,166			65,651
Class R6		189,462			2,111,437			223,522			2,395,791
Class I		766,117			8,503,894			790,490			8,414,383
		24,958,438			276,836,702			27,466,126			293,521,356
Shares redeemed:
Class A		(1,835,769	)		(20,377,866	)		(9,792,748	)		(99,793,855	)
Class C		(1,441,974	)		(15,874,191	)		(1,273,193	)		(13,403,748	)
Class C – automatic conversion of Class A Shares		(11,388	)		(125,494	)		(3,377	)		(35,987	)
Class R31		(177,761	)		(1,980,525	)		(97,573	)		(1,045,514	)
Class R3 - automatic conversion to Class A Shares		(166,106	)		(1,860,249	)		—			—
Class R6		(3,031,536	)		(33,769,016	)		(2,767,518	)		(29,775,291	)
Class I		(15,061,631	)		(167,447,473	)		(12,618,276	)		(133,060,634	)
		(21,726,165	)		(241,434,814	)		(26,552,685	)		(277,115,029	)
Net increase (decrease)		3,232,273		$	35,401,888			913,441		$	16,406,327

¹  Class R3 Shares converted to Class A Shares at the close of business on June 4, 2021, and are no longer available for reinvestment or through an exchange from other Nuveen mutual funds.

6. Income Tax Information

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.

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 NAVs of the Funds.

The table below presents the cost and unrealized appreciation (depreciation) of each Fund’s investment portfolio, as determined on a federal income tax basis, as of June 30, 2021.

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

	Credit Income			Strategic Income
Tax cost of investments	$	191,118,867		$	657,793,279
Gross unrealized:
Appreciation	$	6,168,082		$	23,710,366
Depreciation		(3,062,738	)		(1,396,407	)
Net unrealized appreciation (depreciation) of investments	$	3,105,344		$	22,313,959

80

Permanent differences, primarily due to bond premium amortization adjustments, paydowns, foreign currency transactions, complex securities character adjustments, and treatment of notional principal contracts, resulted in reclassifications among the Funds’ components of net assets as of June 30, 2021, the Funds’ tax year end.

The tax components of undistributed net ordinary income and net long-term capital gains as of June 30, 2021, the Funds’ tax year end, were as follows:

	Credit Income		Strategic Income
Undistributed net ordinary income1	$	425,496	$	838,967
Undistributed net long-term capital gains		—		—

¹  Undistributed net ordinary income (on a tax basis) has not been reduced for the dividend declared during the period June 1, 2021 through June 30, 2021 and paid on July 1, 2021. 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, 2021 and June 30, 2020 was designated for purposes of the dividends paid deduction as follows:

2021	Credit Income		Strategic Income
Distributions from net ordinary income2	$	8,713,741	$	20,420,103
Distributions from net long-term capital gains		—		—
Return of Capital		—		—
2020	Credit Income		Strategic Income
Distributions from net ordinary income2	$	11,409,172	$	24,052,380
Distributions from net long-term capital gains		—		—
Return of Capital		902,457		—

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

As of June 30, 2021, the Funds’ tax year end, the Funds had unused capital losses carrying forward available for federal income tax purposes to be applied against future capital gains, if any. The capital losses are not subject to expiration.

	Credit Income		Strategic Income
Not subject to expiration:
Short-term	$	42,507,964	$	17,914,258
Long-term		85,978,770		20,265,954
Total	$	128,486,734	$	38,180,212

During the Funds’ tax year ended June 30, 2021, the Funds utilized capital loss carryforwards as follows:

	Credit Income		Strategic Income
Utilized capital loss carryforwards	$	9,541,884	$	8,823,089

7. Management Fees and Other Transactions with Affiliates

Management Fees

Each Fund’s management fee compensates the Adviser for the overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

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 each Fund’s 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.

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

Average Daily Net Assets	Credit Income			Strategic Income
For the first $125 million		0.4000	%		0.3600	%
For the next $125 million		0.3875			0.3475
For the next $250 million		0.3750			0.3350
For the next $500 million		0.3625			0.3225
For the next $1 billion		0.3500			0.3100
For the next $3 billion		0.3250			0.2850
For the next $5 billion		0.3000			0.2600
For net assets over $10 billion		0.2875			0.2475

81

Notes to Financial Statements (continued)

The annual complex-level fee, payable monthly, for each Fund 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 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 Eligible Asset Breakpoint Level*	Effective Complex-Level Fee Rate at Breakpoint Level
$55 billion		0.2000	%
$56 billion		0.1996
$57 billion		0.1989
$60 billion		0.1961
$63 billion		0.1931
$66 billion		0.1900
$71 billion		0.1851
$76 billion		0.1806
$80 billion		0.1773
$91 billion		0.1691
$125 billion		0.1599
$200 billion		0.1505
$250 billion		0.1469
$300 billion		0.1445

* The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen open-end and closed-end funds. Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a determined amount (originally $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, but do include certain assets of certain Nuveen funds that were reorganized into funds advised by an affiliate of the Adviser during the 2019 calendar year. Eligible assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the closed-end funds’ use of preferred stock and borrowings and certain 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, 2021, the complex-level fee for each Fund was as follows:

Fund	Complex-Level Fee
Credit Income		0.2000	%
Strategic Income		0.1957

The Adviser has agreed to waive fees and/or reimburse expenses (“Expense Cap”) of each Fund so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees occurred in acquiring and disposing of portfolio securities and extraordinary expenses) 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. However, because Class R6 Shares are not subject to sub-transfer agent and similar fees, the total annual Fund operating expenses for the Class R6 Shares will be less than the expense limitation. The expense limitation in effect thereafter may be terminated or modified only with the approval of the Board.

Fund	Expense Cap			Expense Cap Expiration Date
Credit Income		0.75	%	July 31, 2023
Strategic Income		0.59		July 31, 2023

Distribution and Service Fees

Each Fund has adopted a distribution and service plan under rule 12b-1 under the 1940 Act. Class A Shares incur a 0.25% annual 12b-1 service fee. Class C Shares incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R3 Shares incurred a 0.25% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R6 Shares and Class I Shares are not subject to 12b-1 distribution or service fees. The fees under this plan compensate Nuveen Securities, LLC, (the “Distributor”), a wholly-owned subsidiary of Nuveen, for services provided and expenses incurred in distributing shares of the Funds and establishing and maintaining shareholder accounts.

Other Transactions with Affiliates

During the current fiscal period, the Distributor collected sales charges on purchases of Class A Shares, the majority of which were paid out as concessions to financial intermediaries as follows:

	Credit Income		Strategic Income
Sales charges collected (Unaudited)	$	23,018	$	416,216
Paid to financial intermediaries (Unaudited)		20,237		371,738

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.

82

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as follows:

	Credit Income		Strategic Income
Commission advances (Unaudited)	$	9,302	$	104,932

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

	Credit Income		Strategic Income
12b-1 fees retained (Unaudited)	$	12,818	$	41,548

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 current fiscal period, as follows:

	Credit Income		Strategic Income
CDSC retained (Unaudited)	$	2,098	$	5,589

8. Borrowing Arrangements

Committed Line of Credit

The Funds, along with certain other funds managed by the Adviser (“Participating Funds”), have established a 364-day, $2.635 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for various purposes other than leveraging for investment purposes. Each Participating Fund is allocated a designated proportion of the facility’s capacity (and its associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the Fund, relative to those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other Participating Funds have undrawn capacity. The credit facility expires in June 2022 unless extended or renewed.

The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts borrowed. Prior to June 23, 2021, the drawn interest rate was equal to the higher of (a) one-month LIBOR (London Inter-Bank Offered Rate) plus 1.25% per annum or (b) the Fed Funds rate plus 1.25% per annum on amounts borrowed. The Participating Funds also incurred a 0.05% upfront fee on the increase of the $230 million commitment amount during the reporting period. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of “Interest expense” on the Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of “Interest expense” on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility’s aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund.

During the current fiscal period, none of the Funds utilized this facility.

83

Additional Fund Information (Unaudited)

Investment Adviser Nuveen Fund Advisors, LLC 333 West Wacker Drive Chicago, IL 60606   Sub-Adviser Nuveen Asset Management, LLC 333 West Wacker Drive Chicago, IL 60606 Independent Registered
Public Accounting Firm PricewaterhouseCoopers LLP One North Wacker Drive Chicago, IL 60606   Custodian State Street Bank & Trust Company One Lincoln Street Boston, MA 02111 Legal Counsel Chapman and Cutler LLP Chicago, IL 60603 Transfer Agent and
Shareholder Services DST Asset Manager
Solutions, Inc. (DST) P.O. Box 219140 Kansas City, MO 64121-9140 (800) 257-8787

Distribution Information: The Funds hereby designate their percentages of dividends paid from net ordinary income as dividends qualifying as Interest-Related Dividends and/or short-term capital gain dividends as defined in the Internal Revenue Code Section 871(k) for the taxable periods ending December 31, 2020 and June 30, 2021
	Credit Income	Strategic Income
July 1, 2020 through December 31, 2020	66.3%	63.0%
January 1, 2021 through June 30, 2021	58.9%	61.8%
The Funds hereby designate their percentages of dividends paid from net ordinary income as dividends qualifying for the dividends received deduction (“DRD”) for corporations and their percentages of 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.
	Credit Income	Strategic Income
% DRD	1.4%	12.5%
% QDI	6.3%	22.8%
The Funds had the following percentages, or maximum amount allowable, of ordinary dividends treated as Section 163(j) interest dividends pursuant to Section 163(j) of the Internal Revenue Code for the taxable year ended June 30, 2021:
	Credit Income	Strategic Income
% of Section 163(j) Interest Dividends	93.6%	98.0%
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 as an exhibit to its report on Form N-PORT. You may obtain this information on the SEC’s website at http://www.sec.gov.
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 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 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.
FINRA BrokerCheck: The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline number at (800) 289-9999 or by visiting www.FINRA.org.

84

Glossary of Terms Used in this Report

(Unaudited)

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.

Basis Point: One one-hundredth of one percentage point, or 0.01%. For example, 25 basis points equals 0.25%.

Beta: A measure of the variability of the change in the share price for a fund in relation to a change in the value of the fund’s market benchmark. Securities with betas higher than 1.0 have been, and are expected to be, more volatile than the benchmark; securities with betas lower than 1.0 have been, and are expected to be, less volatile than the benchmark.

Bloomberg Barclays U.S. 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 outstanding 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.

Bloomberg 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.

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.

Contingent Capital Securities (CoCos): CoCos are debt or capital securities of primarily non-U.S. issuers with loss absorption contingency mechanisms built into the terms of the security, for example a mandatory conversion into common stock of the issuer, or a principal write-down, which if triggered would likely cause the CoCo investment to lose value. Loss absorption mechanisms would become effective upon the occurrence of a specified contingency event, or at the discretion of a regulatory body. Specified contingency events, as identified in the CoCo’s governing documents, usually reference a decline in the issuer’s capital below a specified threshold level, and/or certain regulatory events. A loss absorption contingency event for CoCos would likely be the result of, or related to, the deterioration of the issuer’s financial condition and/or its status as a going concern. In such a case, with respect to CoCos that provide for conversion into common stock upon the occurrence of the contingency event, the market price of the issuer’s common stock received by the Acquiring Fund will have likely declined, perhaps substantially, and may continue to decline after conversion. CoCos rated below investment grade should be considered high yield securities, or “junk,” but often are issued by entities whose more senior securities are rated investment grade. CoCos are a relatively new type of security; and there is a risk that CoCo security issuers may suffer the sort of future financial distress that could materially increase the likelihood (or the market’s perception of the likelihood) that an automatic write-down or conversion event on those

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Glossary of Terms Used in this Report (Unaudited) (continued)

issuers’ CoCos will occur. Additionally, the trading behavior of a given issuer’s CoCo may be strongly impacted by the trading behavior of other issuers’ CoCos, such that negative information from an unrelated CoCo security may cause a decline in value of one or more CoCos held by the Fund. Accordingly, the trading behavior of CoCos may not follow the trading behavior of other types of debt and preferred securities. Despite these concerns, the prospective reward vs. risk characteristics of at least certain CoCos may be very attractive relative to other fixed-income alternatives.

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.

Gross Domestic Product (GDP): The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.

Lipper Global High Yield Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Global High Yield 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 Funds Classification Average: Represents the average annualized returns for all reporting funds in the Lipper Multi-Sector 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.

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.

Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash and accrued earnings) less its total liabilities. For funds with multiple classes, Net Assets are determined separately for each share class. NAV per share is equal to the fund’s (or share class’) Net Assets divided by its number of shares outstanding.

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.

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Annual Investment Management Agreement Approval Process

(Unaudited)

At a meeting held on May 25-27, 2021 (the “May Meeting”), the Board of Directors (the “Board” and each Director, a “Board Member”) of the Funds, which is comprised entirely of Board Members who are not “interested persons” (as defined under the Investment Company Act of 1940 (the “1940 Act”)) (the “Independent Board Members”), approved, for each Fund, the renewal of the management agreement (each, an “Investment Management Agreement”) with Nuveen Fund Advisors, LLC (the “Adviser”) pursuant to which the Adviser serves as the investment adviser to such Fund and the sub-advisory agreement (each, a “Sub-Advisory Agreement”) with Nuveen Asset Management, LLC (the “Sub-Adviser”) pursuant to which the Sub-Adviser serves as the sub-adviser to such Fund. Although the 1940 Act requires that continuances of the Advisory Agreements (as defined below) be approved by the in-person vote of a majority of the Independent Board Members, the May Meeting was held virtually through the internet in view of the health risks associated with holding an in-person meeting during the COVID-19 pandemic and governmental restrictions on gatherings. The May Meeting was held virtually in reliance on certain exemptive relief the Securities and Exchange Commission provided to registered investment companies providing temporary relief from the in-person voting requirements of the 1940 Act with respect to the approval of a fund’s advisory agreement in light of these challenges.

Following up to an initial two-year period, the Board considers the renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub-Advisory Agreements are collectively referred to as the “Advisory Agreements” and the Adviser and the Sub-Adviser are collectively, the “Fund Advisers” and each, a “Fund Adviser.” Throughout the year, the Board and its committees meet regularly and, at these meetings, receive regular and/or special reports that cover an extensive array of topics and information that are relevant to its annual consideration of the renewal of the advisory agreements for the Nuveen funds. Such information may address, among other things, fund performance and risk information; the Adviser’s strategic plans; product initiatives for various funds; the review of the funds and investment teams; compliance, regulatory and risk management matters; the trading practices of the various sub-advisers to the funds; valuation of securities; fund expenses; payments to financial intermediaries, including 12b-1 fees and sub-transfer agency fees, if applicable; securities lending; liquidity management; and overall market and regulatory developments. The Board also seeks to meet periodically with the Nuveen funds’ sub-advisers and portfolio teams, when feasible.

In addition, in connection with the annual consideration of the advisory agreements for the Nuveen funds, the Board, through its independent legal counsel, requested and received extensive materials and information prepared specifically for its annual consideration of the renewal of such advisory agreements by the Adviser and by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data. The materials cover a wide range of topics including, but not limited to, a description of the nature, extent and quality of services provided by the Fund Advisers; a review of product actions taken during 2020 (such as mergers, liquidations, fund launches, changes to investment teams, and changes to investment policies); a review of each sub-adviser to the Nuveen funds and the applicable investment teams; an analysis of fund performance in absolute terms and as compared to the performance of certain peer funds and benchmarks with a focus on any performance outliers; an analysis of the fees and expense ratios of the Nuveen funds in absolute terms and as compared to those of certain peer funds with a focus on any expense outliers; a review of management fee schedules; a review of temporary and permanent expense caps and fee waivers for open-end funds (as applicable) and related expense savings; a description of portfolio manager compensation; a review of the performance of various service providers; a description of various initiatives Nuveen had undertaken or continued during the year for the benefit of particular fund(s) and/or the complex; a description of the profitability or financial data of Nuveen and the sub-advisers to the Nuveen funds; and a description of indirect benefits received by the Adviser and the sub-advisers as a result of their relationships with the Nuveen funds. The information prepared specifically for the annual review supplemented the information provided to the Board and its committees and the evaluations of the Nuveen funds by the Board and its committees during the year.

In continuing its practice, the Board met prior to the May Meeting to begin its considerations of the renewal of the Advisory Agreements. Accordingly, on April 21-22, 2021 (the “April Meeting”), the Board met to review and discuss, in part, the performance of the Nuveen funds and the Adviser’s evaluation of each sub-adviser to the Nuveen funds. At the April Meeting, the Board Members asked questions and requested additional information that was provided for the May Meeting. The Board reviewed fund performance throughout the year and in its review, the Board recognized the volatile market conditions that occurred in early 2020 arising, in part, from the public health crisis caused by the novel coronavirus known as COVID-19 and the resulting impact on a fund’s performance for 2020 and thereafter. Accordingly, the Board considered performance data measured over various periods of time as summarized in more detail below.

The Independent Board Members considered the review of the advisory agreements for the Nuveen funds to be an ongoing process and employed the accumulated information, knowledge and experience the Board Members had gained during their tenure on the boards governing the Nuveen funds and working with the Adviser and sub-advisers in their review of the advisory agreements. The contractual arrangements are a result of multiple years of review, negotiation and information provided in connection with the boards’ annual review of the Nuveen funds’ advisory arrangements and oversight of the Nuveen funds.

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Annual Investment Management Agreement Approval Process (Unaudited) (continued)

The Independent Board Members were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel at which no representatives from the Adviser or the Sub-Adviser were present. In connection with their annual review, the Independent Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements.

The Board’s decision to renew the Advisory Agreements was not based on a single identified factor, but rather the decision reflected the comprehensive consideration of all the information provided throughout the year and at the April and May Meetings, and each Board Member may have attributed different levels of importance to the various factors and information considered in connection with the approval process. The following summarizes the principal factors and information, but not all the factors, the Board considered in deciding to renew the Advisory Agreements as well as the Board’s conclusions.

A. Nature, Extent and Quality of Services

In evaluating the renewal of the Advisory Agreements, the Independent Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser’s services provided to the respective Fund with particular focus on the services and enhancements to such services provided during the last year. The Independent Board Members considered the Investment Management Agreements and the Sub-Advisory Agreements separately in the course of their review. With this approach, they considered the respective roles of the Adviser and the Sub-Adviser in providing services to the Funds.

The Board recognized that the Nuveen funds operate in a highly regulated industry and, therefore, the Adviser has provided a wide array of management, oversight and administrative services to manage and operate the funds, and the scope and complexity of these services have expanded over time as a result of, among other things, regulatory and other developments. The Board accordingly considered the extensive resources, tools and capabilities available to the Adviser to operate and manage the Nuveen funds. With respect to the Adviser, as a general matter, some of these services it and its affiliates provide to the Nuveen funds include, but are not limited to: product management (such as setting dividends, analyzing fund expenses, providing competitive analysis, and providing due diligence support); investment oversight, risk management and securities valuation services (such as overseeing and reviewing the various sub-advisers to the Nuveen funds and their investment teams; analyzing fund performance and risk data; overseeing operational and risk management; participating in financial statement, marketing and risk disclosures; providing daily valuation services and developing related valuation policies, procedures and methodologies; periodic testing of audit and regulatory requirements; participating in product development and management processes; participating in leverage management, liquidity monitoring and counterparty credit oversight; providing due diligence and overseeing fund accounting and custody providers; overseeing third party pricing services and periodically assessing investment and liquidity risks); fund administration (such as preparing fund tax returns and other tax compliance services; preparing regulatory filings; overseeing the funds’ independent public accountants and other service providers; analyzing products and enhancements; and managing fund budgets and expenses); oversight of shareholder services and transfer agency functions (such as overseeing transfer agent service providers which include registered shareholder customer service and transaction processing; overseeing proxy solicitation and tabulation services; and overseeing the production and distribution of financial reports by service providers); Board relations services (such as organizing and administering Board and committee meetings, preparing various reports to the Board and committees and providing other support services); compliance and regulatory oversight services (such as managing compliance policies; monitoring compliance with applicable fund policies and laws and regulations; devising internal compliance programs and a framework to review and assess compliance programs; evaluating the compliance programs of the various sub-advisers to the Nuveen funds and certain other service providers; responding to regulatory requests; and preparing compliance training materials); and legal support and oversight of outside law firms (such as helping to prepare and file registration statements and proxy statements; overseeing fund activities and providing legal interpretations regarding such activities; maintaining regulatory registrations and negotiating agreements with other fund service providers; and monitoring changes in regulatory requirements and commenting on rule proposals impacting investment companies).

In evaluating services, the Board reviewed various highlights of the initiatives the Adviser and its affiliates have undertaken or continued in 2020 to benefit the Nuveen complex and/or particular Nuveen funds and meet the requirements of an increasingly complex regulatory environment including, but not limited to:

• Centralization of Functions – ongoing initiatives to centralize investment leadership, market approach and shared support functions within Nuveen and its affiliates in seeking to operate more effectively the business and enhance the services to the Nuveen funds;

• Fund Improvements and Product Management Initiatives – continuing to proactively manage the Nuveen fund complex as a whole and at the individual fund level with an aim to continually improve product platforms and investment strategies to better serve shareholders through, among other things, rationalizing the product line and gaining efficiencies through mergers, repositionings and liquidations; launching new funds; reviewing and updating investment policies and benchmarks; and modifying portfolio management teams for various funds;

• Investment Team Integrations – continuing to integrate and adjust the members of certain investment teams, in part, to allow greater access to tools and resources within the Nuveen organization and its affiliates;

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• Capital Initiatives – continuing to invest capital to support new Nuveen funds with initial capital as well as to support existing funds and facilitate regulatory or logistical changes;

• Liquidity Management – continuing to operate the liquidity management program of the applicable Nuveen funds including monitoring daily their liquidity profile and assessing annually the overall liquidity risk of such funds;

• Compliance Program Initiatives – continuing efforts to mitigate compliance risk, increase operating efficiencies, implement enhancements to strengthen key compliance program elements and support international business growth and other corporate objectives;

• Investment Oversight – preparing reports to the Board addressing, among other things, fund performance; market conditions; investment teams; new products; changes to mandates, policies and benchmarks; and other management proposals;

• Risk Management and Valuation Services – continuing to oversee and manage risk including, among other things, conducting daily calculations and monitoring of risk measures across the Nuveen funds, instituting appropriate investment risk controls, providing risk reporting throughout the firm, participating in internal oversight committees, and continuing to implement an operational risk framework that seeks to provide greater transparency of operational risk matters across the complex as well as provide multiple other risk programs that seek to provide a more disciplined and consistent approach to identifying and mitigating Nuveen’s operational risks. Further, the securities valuation team continues, among other things, to oversee the daily valuation process of the portfolio securities of the funds, maintains the valuation policies and procedures, facilitates valuation committee meetings, manages relationships with pricing vendors, and prepares relevant valuation reports and designs methods to simplify and enhance valuation workflow within the organization;

• Regulatory Matters – continuing efforts to monitor regulatory trends and advocate on behalf of Nuveen and/or the Nuveen funds, to implement and comply with new or revised rules and mandates and to respond to regulatory inquiries and exams;

• Government Relations – continuing efforts of various Nuveen teams and Nuveen’s affiliates to develop policy positions on a broad range of issues that may impact the Nuveen funds, advocate and communicate these positions to lawmakers and other regulatory authorities and work with trade associations to ensure these positions are represented;

• Business Continuity, Disaster Recovery and Information Security – continuing efforts of Nuveen to periodically test and update business continuity and disaster recovery plans and, together with its affiliates, to maintain an information security program designed to identify and manage information security risks, and provide reports to the Board, at least annually, addressing, among other things, management’s security risk assessment, cyber risk profile, potential impact of new or revised laws and regulations, incident tracking and other relevant information technology risk-related reports; and

• Dividend Management Services – continuing to manage the dividends among the varying types of Nuveen funds within the Nuveen complex to be consistent with the respective fund’s product design and positioning in striving to deliver those earnings to shareholders in a relatively consistent manner over time as well as assisting in the development of new products or the restructuring of existing funds.

In its review, the Board recognized that Nuveen’s risk management, compliance, technology and operations capabilities are all integral to providing its investment management services to the Nuveen funds. Further, the Board noted the benefits to shareholders of investing in a Nuveen fund, as each Nuveen fund is a part of a large fund complex with a variety of investment disciplines, capabilities, expertise and resources available to navigate and support the funds including during stressed times as occurred in the market in the first half of 2020. The Board recognized the impact of the COVID-19 pandemic during the year and the adaptations required by service providers to continue to deliver their services to the Nuveen funds, including working remotely. In this regard, the Board noted the ability of the Adviser and the various sub-advisers to the Nuveen funds to provide continuously their services notwithstanding the significant disruptions caused by the pandemic. In addition to the services provided by the Adviser, the Board also considered the risks borne by the Adviser and its affiliates in managing the Nuveen funds, including entrepreneurial, operational, reputational, regulatory and litigation risks.

The Board further considered the division of responsibilities between the Adviser and the Sub-Adviser and recognized that the Sub-Adviser and its investment personnel generally are responsible for the management of each Fund’s portfolio under the oversight of the Adviser and the Board. The Board considered an analysis of the Sub-Adviser provided by the Adviser which included, among other things, the assets under management of the applicable investment team and changes thereto, a summary of the applicable investment team and changes thereto, the investment process and philosophy of the applicable investment team, the performance of the Nuveen funds sub-advised by the Sub-Adviser over various periods of time and a summary of any significant policy and/or other changes to the Nuveen funds sub-advised by the Sub-Adviser. The Board further considered at the May Meeting or prior meetings evaluations of the Sub-Adviser’s compliance programs and trade execution. The Board also considered the structure of investment personnel compensation programs and whether this structure provides appropriate incentives to act in the best interests of the respective Nuveen funds. The Board noted that the Adviser recommended the renewal of the Sub-Advisory Agreements.

Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement.

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Annual Investment Management Agreement Approval Process (Unaudited) (continued)

B. The Investment Performance of the Funds and Fund Advisers

In evaluating the quality of the services provided by the Fund Advisers, the Board also received and considered a variety of investment performance data of the Nuveen funds they advise. In evaluating performance, the Board recognized that performance data may differ significantly depending on the ending date selected, particularly during periods of market volatility, and therefore considered performance over a variety of time periods that may include full market cycles. In this regard, the Board reviewed, among other things, Fund performance over the quarter, one-, three- and five-year periods ending December 31, 2020 as well as performance data periods ending nearer to the May Meeting, including the quarter, one-, three- and five-year periods ending March 31, 2021 and May 14, 2021. The performance data was based on Class A shares; however, the performance of other classes should be substantially similar as they invest in the same portfolio of securities and differences in performance among the classes would be principally attributed to the variations in the expense structures of the classes. The performance data prepared for the annual review of the advisory agreements for the Nuveen funds supplemented the fund performance data that the Board received throughout the year at its meetings representing differing time periods. In its review, the Board took into account the discussions with representatives of the Adviser; the Adviser’s analysis regarding fund performance that occurred at these Board meetings with particular focus on funds that were considered performance outliers (both overperformance and underperformance); the factors contributing to the performance; and any recommendations or steps taken to address performance concerns. Regardless of the time period reviewed by the Board, the Board recognized that shareholders may evaluate performance based on their own holding periods which may differ from the periods reviewed by the Board and lead to differing results.

In its review, the Board reviewed both absolute and relative fund performance during the annual review over the various time periods. With respect to the latter, the Board considered fund performance in comparison to the performance of peer funds (the “Performance Peer Group”) and recognized and/or customized benchmarks (i.e., generally benchmarks derived from multiple recognized benchmarks). For Nuveen funds that had changes in portfolio managers since 2018 or significant changes, among other things, to their investment strategies or policies since 2019, the Board reviewed certain performance data comparing the performance of such funds before and after such changes. In considering performance data, the Board is aware of certain inherent limitations with such data, including that differences between the objective(s), strategies and other characteristics of the Nuveen funds compared to the respective Performance Peer Group and/or benchmark(s) (such as differences in the use of leverage) as well as differences in the composition of the Performance Peer Group over time will necessarily contribute to differences in performance results and limit the value of the comparative information. To assist the Board in its review of the comparability of the relative performance, the Adviser has ranked the relevancy of the peer group to the funds as low, medium or high.

The Board also evaluated performance in light of various relevant factors, including, among other things, general market conditions, issuer-specific information, asset class information, leverage and fund cash flows. In relation to general market conditions, the Board recognized the significant market decline in the early part of 2020 in connection with, among other things, the impact of the COVID-19 pandemic and that such a period of underperformance and market volatility may significantly weigh on the longer term performance results. Accordingly, depending on the facts and circumstances including any differences between the respective Nuveen fund and its benchmark and/or Performance Peer Group, the Board may be satisfied with a fund’s performance notwithstanding that its performance may be below that of its benchmark or peer group for certain periods. However, with respect to any Nuveen funds for which the Board had identified performance issues, the Board monitors such funds closely until performance improves, discusses with the Adviser the reasons for such results, considers whether any steps are necessary or appropriate to address such issues, and reviews the results of any steps undertaken.

The Board’s determinations with respect to each Fund are summarized below.

For Nuveen Credit Income Fund, the Board noted that although the Fund’s performance was below the performance of its benchmark for the one-, three- and five-year periods ended December 31, 2020 and the Fund ranked in the fourth quartile of its Performance Peer Group for the one-year period ended December 31, 2020, the Fund ranked in the third quartile of its Performance Peer Group for the three-year period ended December 31, 2020 and the first quartile for the five-year period ended December 31, 2020. While the Fund’s performance was below the performance of its benchmark for the three- and five-year periods ended March 31, 2021, the Fund outperformed its benchmark for the one-year period ended March 31, 2021. The Fund also ranked in the second quartile of its Performance Peer Group for the one-year period, the third quartile for the three-year period and the first quartile for the five-year period ended March 31, 2021. For the periods ended May 14, 2021, the Fund’s performance was below the performance of its benchmark for the three- and five-year periods but the Fund outperformed its benchmark for the one-year period. The Fund also ranked in the second quartile of its Performance Peer Group for the one-year period, the third quartile for the three-year period and the first quartile for the five-year period ended May 14, 2021. The Board was also aware that there were changes to the Fund’s investment objective and certain investment policies effective in July 2020 and changes to the portfolio management team, and that the performance data prior to such time would not reflect such changes. Based on its review, the Board was satisfied with the Fund’s overall performance.

For Nuveen Strategic Income Fund, the Board noted that the Fund outperformed its benchmark for the one-, three- and five-year periods ended December 31, 2020 and ranked in the second quartile of its Performance Peer Group for the one-year period ended December 31, 2020 and first quartile for the three- and five-year periods ended December 31, 2020. The Fund outperformed its benchmark for the one-, three- and five-year periods ended March 31, 2021 and ranked in the third quartile of its Performance Peer Group for the one-year period, the first quartile for the three-year period and the second quartile for the five-year period ended March 31, 2021. For the periods ended May 14, 2021, the Fund outperformed its

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benchmark for the one-, three- and five-year periods and ranked in the third quartile of its Performance Peer Group for the one-year period, the first quartile for the three-year period and the second quartile for the five-year period. In reviewing performance, the Board also noted the change to the Fund’s portfolio management team in 2020. Based on its review, the Board was satisfied with the Fund’s overall performance.

C. Fees, Expenses and Profitability

1. Fees and Expenses

As part of its annual review, the Board considered the contractual management fee and net management fee (the management fee after taking into consideration fee waivers and/or expense reimbursements, if any) paid by a Nuveen fund to the Adviser in light of the nature, extent and quality of the services provided. The Board also considered the total operating expense ratio of each fund before and after any fee waivers and/or expense reimbursements. More specifically, the Independent Board Members reviewed, among other things, each fund’s gross and net management fee rates (i.e., before and after expense reimbursements and/or fee waivers, if any) and net total expense ratio in relation to those of a comparable universe of funds (the “Peer Universe”) and/or to a more focused subset of comparable funds (the “Peer Group”) established by Broadridge (subject to certain exceptions). The Independent Board Members reviewed the methodology Broadridge employed to establish its Peer Universe and Peer Group and recognized that differences between the applicable fund and its respective Peer Universe and/or Peer Group as well as changes to the composition of the Peer Group and/or Peer Universe from year to year may limit some of the value of the comparative data. The Independent Board Members also considered a fund’s operating expense ratio as it more directly reflected the shareholder’s costs in investing in the respective fund.

In their review, the Independent Board Members considered, in particular, each fund with a net expense ratio of six basis points or higher compared to that of its peer average (each, an “Expense Outlier Fund”) and an analysis as to the factors contributing to each such fund’s higher relative net expense ratio. Accordingly, in reviewing the comparative data between a fund and its peers, the Board generally considered the fund’s net expense ratio and fees to be higher if they were over 10 basis points higher, slightly higher if they were 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. The Independent Board Members also considered, in relevant part, a fund’s net management fee and net total expense ratio in light of its performance history.

In their review of the fee arrangements for the Nuveen funds, the Independent Board Members considered the management fee schedules, including the complex-wide and fund-level breakpoint schedules, and the expense reimbursements and/or fee waivers provided by Nuveen for each fund, as applicable. The Board noted that across the Nuveen fund complex, the complex-wide fee breakpoints reduced fees by approximately $58.4 million and fund-level breakpoints reduced fees by approximately $69.6 million in 2020. Further, fee caps and waivers for all applicable Nuveen funds saved approximately an additional $13.2 million in fees for shareholders in 2020.

With respect to the Sub-Adviser, the Board also considered the sub-advisory fee schedule paid to the Sub-Adviser in light of the sub-advisory services provided to the respective Fund, the breakpoint schedule and comparative data of the fees the Sub-Adviser charges to other clients, if any. In its review, the Board recognized that the compensation paid to the Sub-Adviser is the responsibility of the Adviser, not the Funds.

The Independent Board Members noted that each Fund had a net management fee and a net expense ratio that were below the respective peer averages.

Based on its review of the information provided, the Board determined that each Fund’s management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

2. Comparisons with the Fees of Other Clients

In determining the appropriateness of fees, the Board also considered information regarding the fee rates the respective Fund Advisers charged to certain other types of clients and the type of services provided to these other clients. With respect to the Adviser and/or the Sub-Adviser, such other clients may include retail and institutional managed accounts advised by the Sub-Adviser; hedge funds managed by the Sub-Adviser; investment companies offered outside the Nuveen family and sub-advised by the Sub-Adviser; foreign investment companies offered by Nuveen and sub-advised by the Sub-Adviser; and collective investment trusts sub-advised by the Sub-Adviser. The Board further noted that the Adviser also advised certain exchange-traded funds (“ETFs”) sponsored by Nuveen.

The Board recognized that each Fund had an affiliated sub-adviser and, with respect to affiliated sub-advisers, reviewed, among other things, the range of fees assessed for managed accounts, hedge funds (along with their performance fee) and foreign investment companies offered by Nuveen. The Board also reviewed the fee range and average fee rate of certain selected investment strategies offered in retail and institutional managed accounts advised by the Sub-Adviser, the hedge funds advised by the Sub-Adviser (along with their performance fee) and non-Nuveen investment companies sub-advised by certain affiliated sub-advisers.

In considering the fee data of other clients, the Board recognized, among other things, the differences in the amount, type and level of services provided to the Nuveen funds relative to other clients as well as the differences in portfolio investment policies, investor profiles, account sizes and regulatory requirements, all of which contribute to the variations in the fee schedules. The Board recognized the breadth of services the Adviser had

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Annual Investment Management Agreement Approval Process (Unaudited) (continued)

provided to the Nuveen funds compared to the other types of clients as the funds operate in a highly regulated industry with increasing regulatory requirements as well as the increased entrepreneurial, legal and regulatory risks that the Adviser incurs in sponsoring and managing the funds. Further, with respect to ETFs, the Board considered that Nuveen ETFs were passively managed compared to the active management of the other Nuveen funds which contributed to the differences in fee levels between the Nuveen ETFs and other Nuveen funds. In general, higher fee levels reflect higher levels of service provided by the Adviser, increased investment management complexity, greater product management requirements, and higher levels of business risk or some combination of these factors. The Board further considered that the Sub-Adviser’s fee is essentially for portfolio management services and therefore more comparable to the fees it receives for retail wrap accounts and other external sub-advisory mandates. The Board concluded the varying levels of fees were justified given, among other things, the inherent differences in the products and the level of services provided to the Nuveen funds versus other clients, the differing regulatory requirements and legal liabilities and the entrepreneurial, legal and regulatory risks incurred in sponsoring and advising a registered investment company.

3. Profitability of Fund Advisers

In their review, the Independent Board Members considered information regarding Nuveen’s level of profitability for its advisory services to the Nuveen funds for the calendar years 2020 and 2019. The Board reviewed, among other things, Nuveen’s net margins (pre-tax) (both including and excluding distribution expenses); gross and net revenue margins (pre- and post-tax and excluding distribution) from Nuveen funds only; revenues, expenses and net income (pre- and post-tax and before distribution expenses) of Nuveen for fund advisory services; and comparative profitability data comparing the operating margins of Nuveen compared to the adjusted operating margins of certain peers that had publicly available data and with the most comparable assets under management (based on asset size and asset composition) for each of the last two calendar years. In reviewing the peer comparison data, the Independent Board Members noted that Nuveen Investments, Inc.’s operating margins were on the low range compared to the total company adjusted operating margins of the peers. The Board also reviewed the revenues and expenses the Adviser derived from its ETF product line for the 2019 and 2020 calendar years.

In reviewing the profitability data, the Independent Board Members recognized the subjective nature of calculating profitability as the information is not audited and is dependent on cost allocation methodologies to allocate corporate-wide expenses to the Nuveen complex and its affiliates and to further allocate such Nuveen complex expenses between the Nuveen fund and non-fund businesses. Generally, fund-specific expenses are allocated to the Nuveen funds and partial fund-related expenses and/or corporate overhead and shared costs (such as legal and compliance, accounting and finance, information technology and human resources and office services) are partially attributed to the funds pursuant to cost allocation methodologies. The Independent Board Members reviewed a description of the cost allocation methodologies employed to develop the financial information, a summary of the history of changes to the methodology over the years from 2010 to 2020, and the net revenue margins derived from the Nuveen funds (pre-tax and including and excluding distribution) and total company margins from Nuveen Investments, Inc. compared to the firm-wide adjusted margins of the peers for each calendar year from 2010 to 2020. The Board had also appointed three Independent Board Members to serve as the Board’s liaisons, with the assistance of independent counsel, to review the development of the profitability data and any proposed changes to the cost allocation methodology prior to incorporating any such changes and to report to the full Board. The Board recognized that other reasonable and valid allocation methodologies could be employed and could lead to significantly different results. The Independent Board Members also considered the key drivers behind the revenue and expense changes that impacted Nuveen’s net margins between 2019 and 2020. The Board also noted the reinvestments Nuveen and/or its parent made into its business through, among other things, the investment of seed capital in certain Nuveen funds and continued investments in enhancements to information technology, portfolio accounting systems and the global trading platform.

In reviewing the comparative peer data noted above, the Board considered that the operating margins of Nuveen Investments, Inc. were in the lower half of the peer group range; however, the Independent Board Members also recognized the limitations of the comparative data given that peer data is not generally public and the calculation of profitability is subjective and affected by numerous factors (such as types of funds a peer manages, its business mix, its cost of capital, the numerous assumptions underlying the methodology used to allocate expenses and other factors) that can have a significant impact on the results.

Aside from Nuveen’s profitability, the Board recognized that the Adviser is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America (“TIAA”). Accordingly, the Board also reviewed a balance sheet for TIAA reflecting its assets, liabilities and capital and contingency reserves for the 2020 and 2019 calendar years to consider the financial strength of TIAA. The Board recognized the benefit of an investment adviser and its parent with significant resources, particularly during periods of market volatility as experienced with the COVID-19 pandemic.

In addition to Nuveen, the Independent Board Members considered the profitability of the Sub-Adviser from its relationships with the Nuveen funds. In this regard, the Independent Board Members reviewed, among other things, the Sub-Adviser’s revenues, expenses and net revenue margins (pre- and post-tax) for its advisory activities for the calendar year ended December 31, 2020 as well as its pre- and post-tax net revenue margins for 2020 compared to such margins for 2019. The Independent Board Members also reviewed a profitability analysis reflecting the revenues, expenses and revenue margin (pre- and post-tax) by asset type for the Sub-Adviser for the calendar year ending December 31, 2020 and the pre- and post-tax revenue margins from 2020 and 2019.

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In evaluating the reasonableness of the compensation, the Independent Board Members also considered any other ancillary benefits derived by the respective Fund Adviser from its relationship with the Nuveen funds as discussed in further detail below.

Based on a consideration of all the information provided, the Board noted that Nuveen’s and the Sub-Adviser’s level of profitability was acceptable and not unreasonable in light of the services provided.

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

The Board considered whether there have been economies of scale with respect to the management of the Nuveen funds and whether these economies of scale have been appropriately shared with the funds. The Board recognized that although economies of scale are difficult to measure and certain expenses may not decline with a rise in assets, there are several methods to help share the benefits of economies of scale, including breakpoints in the management fee schedule, fee waivers and/or expense limitations, the pricing of Nuveen funds at scale at inception and investments in Nuveen’s business which can enhance the services provided to the funds for the fees paid. The Board noted that Nuveen generally has employed these various methods, and the Board considered the extent to which the Nuveen funds will benefit from economies of scale as their assets grow. In this regard, the Board noted that the management fee of the Adviser is generally comprised of a fund-level component and a complex-level component each with its own breakpoint schedule, subject to certain exceptions. The Board reviewed the fund-level and complex-level fee schedules. The Board considered that the fund-level breakpoint schedules are designed to share economies of scale with shareholders if the particular fund grows, and the complex-level breakpoint schedule is designed to deliver the benefits of economies of scale to shareholders when the eligible assets in the complex pass certain thresholds even if the assets of a particular fund are unchanged or have declined. In the calculation of the complex-level component, the Board noted that it had approved the acquisition of several Nuveen funds by similar TIAA-CREF funds in 2019. However, to mitigate the loss of the assets of these Nuveen funds deemed eligible to be included in the calculation of the complex-wide fee when these Nuveen funds left the complex upon acquisition, Nuveen agreed to credit approximately $604.5 million to assets under management to the Nuveen complex in calculating the complex-wide component.

In addition to the fund-level and complex-level fee schedules, the Independent Board Members considered the temporary and/or permanent expense caps applicable to certain Nuveen funds (including the amounts of fees waived or amounts reimbursed to the respective funds in 2019 and 2020), including the temporary expense caps applicable to the Funds.

The Independent Board Members also recognized the Adviser’s continued reinvestment in its business through various initiatives including maintaining a seed account available for investments into Nuveen funds and investing in its internal infrastructure, information technology and other systems that will, among other things, consolidate and enhance accounting systems, integrate technology platforms to support growth and efficient data processing, and further develop its global trading platform to enhance the investment process for the investment teams.

Based on its review, the Board concluded that the current fee arrangements together with the Adviser’s reinvestment in its business appropriately shared any economies of scale with shareholders.

E. Indirect Benefits

The Independent Board Members received and considered information regarding other benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the Nuveen funds. The Independent Board Members recognized that an affiliate of the Adviser serves as principal underwriter providing distribution and/or shareholder services to the open-end funds. The Independent Board Members further noted that, subject to certain exceptions, the Nuveen open-end funds pay 12b-1 fees and while a majority of such fees were paid to third party broker-dealers, the Board reviewed the amount retained by the Adviser’s affiliate. In addition, the Independent Board Members also noted that various sub-advisers (including the Sub-Adviser) may engage in soft dollar transactions pursuant to which they may receive the benefit of research products and other services provided by broker-dealers executing portfolio transactions on behalf of the applicable Nuveen funds. However, the Board noted that any benefits for the Sub-Adviser when transacting in fixed-income securities may be more limited as such securities generally trade on a principal basis and therefore do not generate brokerage commissions.

Based on its review, the Board 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.

F. Other Considerations

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

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Liquidity Risk Management Program

(Unaudited)

Discussion of the operation and effectiveness of the Funds’ liquidity risk management program

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), each Fund covered in this Report has adopted and implemented a liquidity risk management program (the “Program”), which is designed to manage each Fund’s liquidity risk. The Program consists of various protocols for assessing and managing each Fund’s liquidity risk. The Funds’ Board of Directors (the “Board”) previously designated Nuveen Fund Advisors, LLC, the Funds’ investment adviser (the “Adviser”), as the administrator of the Program. The Adviser’s Liquidity Monitoring and Analysis Team (“LMAT”) carries out day-to-day Program management with oversight by the Adviser’s Liquidity Oversight Sub-Committee (“LOSC”). LMAT and LOSC are composed of personnel from the Adviser and Teachers Advisors, LLC, an affiliate of the Adviser.

At a May 26, 2021 meeting of the Board, the Adviser provided the Board with a written report addressing the Program’s operation, adequacy and effectiveness of implementation for the calendar year 2020 (the “Review Period”), as required under the Liquidity Rule. The report noted that the Program has been and continues to be adequately and effectively implemented to monitor and (as applicable) respond to each Fund’s liquidity developments.

In accordance with the Program, LMAT assesses each Fund’s liquidity risk no less frequently than annually based on various factors, such as (i) the Fund’s investment strategy and the liquidity of its portfolio investments, (ii) cash flow projections, and (iii) holdings of cash and cash equivalents, borrowing arrangements, and other funding sources. Certain factors are considered under both normal and reasonably foreseeable stressed conditions.

Each of the Funds’ portfolio investments are classified into one of four liquidity categories (including the most liquid, “Highly Liquid,” and the least liquid, “Illiquid,” as discussed below). The classification is based on a determination of how long it is reasonably expected to take to convert the investment into cash, or sell or dispose of the investment, in current market conditions without significantly changing the market value of the investment. Liquidity classification determinations take into account various market, trading, and investment-specific considerations, as well as market depth, using third-party vendor data.

A fund that does not primarily hold Highly Liquid investments must, among other things, determine a minimum percentage of the fund’s net assets that must be invested in Highly Liquid investments (a “Highly Liquid Investment Minimum”). During the Review Period, each Fund primarily held Highly Liquid investments and therefore was exempt from the requirement to adopt a Highly Liquid Investment Minimum and to comply with the related requirements under the Liquidity Rule.

The Liquidity Rule also limits a fund’s investments in Illiquid investments. Specifically, the Liquidity Rule prohibits a fund from acquiring Illiquid investments if doing so would result in the fund holding more than 15% of its net assets in Illiquid investments, and requires certain reporting to the fund’s board and the Securities and Exchange Commission any time a fund’s holdings of Illiquid investments exceeds 15% of net assets. During the Review Period, the Funds did not exceed the 15% limit on Illiquid investments.

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Directors 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 Directors of the Funds. None of the Directors who are not “interested” persons of the Funds (referred to herein as “Independent Directors”) has ever been a Director or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the Directors and officers of the Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each Director oversees and other directorships they hold are set forth below.

The Funds’ Statement of Additional Information (“SAI”) includes more information about the Directors. 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 Director
Independent Directors:
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606	Chair and Director	2008	Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); Director, Quality Control Corporation (manufacturing) (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (philanthropy) (since 2012), and chair of its investment committee; formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (since 1994); 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).	143
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606	Director	1999	Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, (private philanthropic corporation); Life Trustee of Coe College and the Iowa College Foundation; formerly, Member and President Pro-Tem of the Board of Regents for the State of Iowa University System (2007- 2013); Director and Chairman (2009-2021), United Fire Group, a publicly held company; Director, Public Member, American Board of Orthopaedic Surgery (2015-2020); Director (2000-2004), Alliant Energy; Director (1996-2015), The Gazette Company (media and publishing); Director (1997- 2003), Federal Reserve Bank of Chicago; President and Chief Operating Officer (1972-1995), SCI Financial Group, Inc., (regional financial services firm).	143
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606	Director	2003	Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010- 2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; 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.	143

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Directors 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 Director
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606	Director	2021	Formerly, Managing Director, Independent Directors Council (IDC) (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); Member of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA) (since 2020).	143
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606	Director	2021	Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018-2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses)(2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019).	143
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606	Director	2016	Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics).	143
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606	Director	2013	Member of Board of Directors of Core12 LLC. (private firm which develops branding, marketing and communications strategies for clients) (since 2008); served The President’s Council of Fordham University (2010-2019) and previously a Director of the Curran Center for Catholic American Studies (2009-2018); formerly, senior external advisor to the Financial Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014 as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007.	143

96

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 Director
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606	Director	1997	Board Member, Land Trust Alliance (national public charity addressing natural land and water conservation in the U.S.) (since 2013); formerly, Board Member, U.S. Endowment for Forestry and Communities (national endowment addressing forest health, sustainable forest production and markets, and economic health of forest-reliant communities in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation (private foundation endowed to support both natural land conservation and artistic vitality); prior thereto, Executive Director, Great Lakes Protection Fund (endowment created jointly by seven of the eight Great Lakes states’ Governors to take a regional approach to improving the health of the Great Lakes) (1990-1994).	143
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606	Director	2007	Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe Global Markets, Inc., (2010-2020) (formerly named CBOE Holdings, Inc.); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010).	143
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606	Director	2020	Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation (“FedEx”) (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure).	143
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606	Director	2016	Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (legal services, Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College.	143
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606	Director	2017	Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017).	143

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Directors and Officers (Unaudited) (continued)

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (2)	Principal Occupation(s) During Past 5 Years
Officers of the Funds:
Christopher E. Stickrod 1976 333 W. Wacker Drive Chicago, IL 60606	Chief Administrative Officer	2020	Senior Managing Director (since 2017) and Head of Advisory Product (since 2020), formerly, Managing Director (2016-2017) and Senior Vice President (2013-2016) of Nuveen; Senior Managing Director of Nuveen Securities, LLC (since 2018) and of Nuveen Fund Advisors, LLC (since 2019).
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402	Vice President and Secretary	2013	Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2018).
Diana R. Gonzalez 1978 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2017	Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management, LLC (2012-2017).
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606	Vice President and Treasurer	2016	Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director (since 2015) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst.
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606	Vice President	2002	Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC.
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606	Vice President	2019	Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Senior Managing Director (since 2021), formerly, Managing Director (2017-2021), Vice President (2010-2017) of Nuveen; Head of Investment Oversight (since 2017), formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified Financial Risk Manager.
Jacques M. Longerstaey 1963 8500 Andrew Carnegie Blvd. Charlotte, NC 28262	Vice President	2019	Senior Managing Director, Chief Risk Officer, Nuveen (since May 2019); Senior Managing Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model Risk Officer, Wealth & Investment Management Division, Wells Fargo Bank (NA) (2013-2019).
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2007	Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC, formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC.
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262	Vice President and Assistant Secretary	2019	Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017); Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director (since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004.

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Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (2)	Principal Occupation(s) During Past 5 Years
Deann D. Morgan 1969 730 Third Avenue New York, NY 10017	Vice President	2020	President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of Product at Nuveen (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC (since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director, Head of Wealth Management Product Structuring & COO Multi Asset Investing. The Blackstone Group (2013-2017).
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2008	Managing Director and Assistant Secretary (since 2017) of Nuveen Securities, LLC; Managing Director (since 2017), General Counsel (since 2020), and Assistant Secretary (since 2016), formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Managing Director (since 2017) and Associate General Counsel (since 2016), formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of Nuveen.
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606	Vice President	2017	Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen.
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262	Vice President and Controller	2019	Senior Managing Director, Head of Public Investment Finance at Nuveen (since 2019), formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) of the CREF Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006.
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2008	Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of Nuveen.
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606	Vice President and Chief Compliance Officer	1988	Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and Co-General Counsel (2011-2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director (2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly, Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC (2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst.

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

(2) 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.

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Nuveen:

Serving Investors for Generations

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

Focused on meeting investor needs.

Nuveen is the investment manager of TIAA. We have grown into one of the world’s premier global asset managers, with specialist knowledge across all major asset classes and particular strength in solutions that provide income for investors and that draw on our expertise in alternatives and responsible investing. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources that a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create solutions which help them secure their financial future.

Find out how we can help you.

To learn more about how the products and services of Nuveen may be able to help you meet your financial goals, talk to your financial professional, 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, 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/mutual-funds

Nuveen Securities, LLC, member FINRA and SIPC  | 
333 West Wacker Drive  | Chicago, IL 60606  | www.nuveen.com MAN-FINC-0621D        1739033-INV-Y-08/22

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/fund-governance. (To view the code, click on Code of Conduct.)

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) 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 experts are Carole E. Stone, Jack B. Evans, William C. Hunter and Albin F. Moschner, who are “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.

Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.

Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter’s responsibilities include, among other things, reviewing financial statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of finance, accounting and economics.

Mr. Moschner, Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., (consumer wireless services) including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996), including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics).

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following tables show the amount of fees that PriceWaterHouseCoopers LLP, the Funds’ auditor, billed to the Funds’ during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PriceWaterHouseCoopers LLP, provided to the Funds, 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 Funds 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 Funds during the fiscal year in which the services are provided; (B) the Funds 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 Chair (or, in her absence, any other member of the Audit Committee).

Fiscal Year Ended June 30, 2021	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 Credit Income Fund		35,710		7,500		0		0
Nuveen Strategic Income Fund		47,570		7,500		0		0
Total	$	83,280	$	15,000	$	0	$	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 Credit Income Fund		0	%		0	%		0	%		0	%
Nuveen Strategic Income Fund		0	%		0	%		0	%		0	%
	Audit Fees Billed			Audit-Related Fees			Tax Fees			All Other Fees
June 30, 2020	to Funds 1			Billed to Funds 2			Billed to Funds  3			Billed to Funds  4
Fund Name
Nuveen Credit Income Fund		34,965			0			0			0
Nuveen Strategic Income Fund		46,995			0			0			0
Total	$	81,960		$	0		$	0		$	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 Credit Income Fund		0	%		0	%		0	%		0	%
Nuveen Strategic Income Fund		0	%		0	%		0	%		0	%

Fiscal Year Ended June 30, 2021	Audit-Related Fees Billed to Adviser  and Affiliated Fund June 30, 2019			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%		0	%
Fiscal Year Ended June 30, 2020	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Affiliated Fund Service Providers			Affiliated Fund Service Providers			and Affiliated Fund Service Providers
		0	%		0	%		0	%

Fiscal Year Ended June 30, 2021	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)
Fund Name
Nuveen Credit Income Fund		0		0		0
Nuveen Strategic Income Fund		0		0		0
Total	$	0	$	0	$	0

“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.

Fiscal Year Ended June 30, 2020	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and related directly to the operations and financial reporting of the Trust)		Affiliated Fund Service Providers (all other engagements)
Fund Name
Nuveen Credit Income Fund		0		0		0
Nuveen Strategic Income Fund		0		0		0
Total	$	0	$	0	$	0

“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 Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds 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 Chair for her 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 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. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. 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/fund-governance 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.
(a	)(4)	Change in the registrant’s independent public accountant. Not applicable.
(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/ Mark J. Czarniecki
	Mark J. Czarniecki
	Vice President and Secretary

Date: September 2, 2021

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/ Christopher E. Stickrod
	Christopher E. Stickrod
	Chief Administrative Officer
	(principal executive officer)

Date: September 2, 2021

By (Signature and Title)	/s/ E. Scott Wickerham
	E. Scott Wickerham
	Vice President and Controller
	(principal financial officer)

Date: September 2, 2021

EX-99.CERT

EX-99.CERT

CERTIFICATIONS

I, Christopher E. Stickrod, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during 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; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 2, 2021

/s/ Christopher E. Stickrod

Christopher E. Stickrod

Chief Administrative Officer

(principal executive officer)

I, E. Scott Wickerham, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during 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; and

5. The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 2, 2021

/s/ E. Scott Wickerham

E. Scott Wickerham

Vice President and Controller

(principal financial officer)

EX-99.906CERT

EX-99.906CERT

Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer and Chief Financial Officer, based on each such officer’s knowledge and belief.

The undersigned officers of Nuveen Investment Funds, Inc. (the “Registrant”) certify that, to the best of each such officer’s knowledge and belief:

1. The Form N-CSR of the Registrant for the period ended June 30, 2021 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: September 2, 2021

/s/ Christopher E. Stickrod

Christopher E. Stickrod

Chief Administrative Officer

(principal executive officer)

/s/ E. Scott Wickerham

E. Scott Wickerham

Vice President and Controller

(principal financial officer)