Monthly Portfolio Investments Report on Form N-port (public) (nport-p)

JEMD

Nuveen Emerging Markets Debt 2022 Target Term Fund

Portfolio of Investments    September 30, 2019

(Unaudited)

Principal Amount (000)		Description (1)	Coupon	Maturity	Ratings (2)	Value
		LONG-TERM INVESTMENTS – 135.1% (99.4% of Total Investments)
		EMERGING MARKETS DEBT – 78.1% (57.5% of Total Investments)
		Argentina  –  2.1%
$7,575		Provincia de Buenos Aires/Government Bonds, 144A	6.500%	2/15/23	CCC	$2,651,250
		Bahrain  –  3.4%
1,000		Bahrain Government International Bond, 144A	5.875%	1/26/21	BB-	1,023,830
3,000		Bahrain Government International Bond, 144A, (3)	6.125%	7/05/22	BB-	3,173,700
4,000		Total Bahrain				4,197,530
		Barbados  –  4.3%
650		Barbados Government International Bond, 144A, (4)	7.250%	12/15/21	Caa3	412,750
7,500		Barbados Government International Bond, 144A, (4)	7.000%	8/04/22	D	4,650,000
517		Barbados Government International Bond, Reg S, (4)	7.000%	8/04/22	D	320,540
8,667		Total Barbados				5,383,290
		Belarus  –  0.6%
750		Republic of Belarus International Bond, 144A	6.875%	2/28/23	B	801,576
		Costa Rica  –  3.1%
4,000		Costa Rica Government International Bond, 144A, (3)	4.250%	1/26/23	B+	3,910,040
		Dominican Republic  –  0.1%
133		Dominican Republic International Bond, 144A	7.500%	5/06/21	BB-	139,333
		Ecuador  –  6.4%
7,350		Ecuador Government International Bond, 144A	10.750%	3/28/22	B-	7,983,937
		Egypt  –  5.4%
6,525		Egypt Government International Bond, 144A, (3)	6.125%	1/31/22	B+	6,724,600
		El Salvador  –  5.5%
6,375		El Salvador Government International Bond, 144A, (3)	7.750%	1/24/23	B-	6,948,814
		Ghana  –  3.3%
3,750		Ghana Government International Bond, 144A, (3)	9.250%	9/15/22	B	4,088,250
		Iraq  –  6.9%
8,500		Iraq International Bond, 144A, (3)	6.752%	3/09/23	B-	8,686,490
		Lebanon  –  5.0%
5,000		Lebanon Government International Bond, Reg S	6.000%	1/27/23	B-	3,453,750

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JEMD	Nuveen Emerging Markets Debt 2022 Target Term Fund (continued)
	Portfolio of Investments September 30, 2019
	(Unaudited)

Principal Amount (000)		Description (1)	Coupon	Maturity	Ratings (2)	Value
		Lebanon (continued)
$4,000		Lebanon Government International Bond	6.400%	5/26/23	B-	$2,759,351
9,000		Total Lebanon				6,213,101
		Mongolia  –  3.7%
3,000		Mongolia Government International Bond, 144A, (3)	5.125%	12/05/22	B	2,992,620
1,650		Mongolia Government International Bond, 144A	5.625%	5/01/23	B	1,666,487
4,650		Total Mongolia				4,659,107
		Nigeria  –  2.8%
3,425		Nigeria Government International Bond, (3)	5.625%	6/27/22	B+	3,531,552
		Pakistan  –  2.6%
3,275		Third Pakistan International Sukuk Co Ltd, 144A	5.625%	12/05/22	B-	3,275,000
		Paraguay  –  0.4%
500		Paraguay Government International Bond, 144A, (3)	4.625%	1/25/23	Ba1	525,630
		Rwanda  –  7.2%
8,400		Rwanda International Government Bond, 144A, (3)	6.625%	5/02/23	B+	9,063,264
		Senegal  –  1.0%
925		Senegal Government International Bond, 144A	8.750%	5/13/21	Ba3	1,002,580
235		Senegal Government International Bond, Reg S	8.750%	5/13/21	Ba3	254,636
1,160		Total Senegal				1,257,216
		Sri Lanka  –  2.9%
600		Sri Lanka Government International Bond, 144A, (3)	5.875%	7/25/22	B	601,494
3,000		Sri Lanka Government International Bond, 144A, (3)	5.750%	4/18/23	B	2,977,636
3,600		Total Sri Lanka				3,579,130
		Turkey  –  0.8%
1,000		Export Credit Bank of Turkey, 144A	4.250%	9/18/22	B+	948,308
		Ukraine  –  6.4%
7,650		Ukraine Government International Bond, 144A, (3)	7.750%	9/01/22	B	8,032,500
		Zambia  –  4.2%
7,500		Zambia Government International Bond, 144A, (3)	5.375%	9/20/22	CCC+	5,233,815
$107,785		Total Emerging Markets Debt (cost $109,572,732)				97,833,733

    

Principal Amount (000)		Description (1)			Coupon	Maturity	Ratings (2)	Value
		CORPORATE BONDS – 57.0% (41.9% of Total Investments)
		Banks – 21.7%
$750		Akbank TAS, 144A			5.000%	10/24/22	B+	$738,000
600		Banco de Bogota SA, 144A			5.375%	2/19/23	BBB-	638,940

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Principal Amount (000)		Description (1)			Coupon	Maturity	Ratings (2)	Value
		Banks (continued)
$750		Banco do Brasil SA/Cayman, 144A			5.875%	1/19/23	Ba3	$802,500
2,500		Credit Bank of Moscow Via CBOM Finance PLC, 144A			5.875%	11/07/21	BB	2,540,785
2,000		Credit Bank of Moscow Via CBOM Finance PLC, 144A			5.550%	2/14/23	BB	1,984,520
2,857		Halyk Savings Bank of Kazakhstan JSC, 144A			5.500%	12/21/22	BB	2,868,094
4,000		TC Ziraat Bankasi AS, 144A			5.125%	5/03/22	B+	3,880,000
300		Turkiye Garanti Bankasi AS, 144A			5.250%	9/13/22	B+	298,160
5,000		Turkiye Is Bankasi AS, 144A, (3)			6.000%	10/24/22	B	4,795,570
3,304		Turkiye Vakiflar Bankasi TAO, 144A			6.000%	11/01/22	B	3,154,725
2,150		Ukreximbank Via Biz Finance PLC, 144A			9.625%	4/27/22	B	2,239,161
3,000		United Bank for Africa PLC, 144A, (3)			7.750%	6/08/22	B+	3,187,500
27,211		Total Banks						27,127,955
		Commercial Services & Supplies – 2.0%
2,500		Atento Luxco 1 SA, 144A, (3)			6.125%	8/10/22	BB	2,534,375
		Communications Equipment – 2.6%
3,250		IHS Netherlands Holdco BV, 144A			9.500%	10/27/21	B+	3,310,125
		Diversified Telecommunication Services – 0.8%
1,000		Colombia Telecomunicaciones SA ESP, 144A, (3)			5.375%	9/27/22	BB+	1,010,000
		Electric Utilities – 5.3%
5,000		Eskom Holdings SOC Ltd, 144A, (3)			5.750%	1/26/21	BBB+	5,034,340
1,500		Instituto Costarricense de Electricidad, 144A			6.950%	11/10/21	B1	1,541,265
6,500		Total Electric Utilities						6,575,605
		Food Products – 4.5%
2,800		BRF SA, 144A			3.950%	5/22/23	Ba2	2,804,228
2,700		Kernel Holding SA, 144A, (3)			8.750%	1/31/22	BB-	2,862,000
5,500		Total Food Products						5,666,228
		Independent Power & Renewable Electricity Producers – 1.8%
2,250		Azure Power Energy Ltd, 144A, (3)			5.500%	11/03/22	Ba3	2,273,589
		Metals & Mining – 5.0%
3,000		Petra Diamonds US Treasury PLC, 144A, (3)			7.250%	5/01/22	B-	2,370,000
4,000		Vedanta Resources Ltd, 144A			7.125%	5/31/23	B+	3,942,000
7,000		Total Metals & Mining						6,312,000
		Oil, Gas & Consumable Fuels – 4.5%
1,500		Medco Straits Services Pte Ltd, 144A			8.500%	8/17/22	B+	1,603,490
2,000		State Oil Co of the Azerbaijan Republic, Reg S			4.750%	3/13/23	BB+	2,073,280
2,000		Tullow Oil PLC, 144A, (3)			6.250%	4/15/22	B+	2,021,000
5,500		Total Oil, Gas & Consumable Fuels						5,697,770

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JEMD	Nuveen Emerging Markets Debt 2022 Target Term Fund (continued)
	Portfolio of Investments September 30, 2019
	(Unaudited)

Principal Amount (000)		Description (1)			Coupon	Maturity	Ratings (2)	Value
		Pharmaceuticals – 1.8%
$2,600		Teva Pharmaceutical Finance Co BV			2.950%	12/18/22	BBB	$2,229,500
		Real Estate Management & Development – 3.7%
3,200		China Evergrande Group, Reg S, Reg S			8.250%	3/23/22	B2	2,859,292
1,750		Country Garden Holdings Co Ltd, Reg S			4.750%	7/25/22	BBB-	1,747,661
4,950		Total Real Estate Management & Development						4,606,953
		Road & Rail – 0.9%
1,100		Transnet SOC Ltd, 144A			4.000%	7/26/22	Baa3	1,105,500
		Wireless Telecommunication Services – 2.4%
3,716		Digicel Group Two Ltd, 144A, (cash 7.125%, PIK 2.000%)			9.125%	4/01/24	CC	353,003
2,525		MTN Mauritius Investments Ltd, 144A, (3)			5.373%	2/13/22	BB+	2,599,397
6,241		Total Wireless Telecommunication Services						2,952,400
$75,602		Total Corporate Bonds (cost $74,443,271)						71,402,000
		Total Long-Term Investments (cost $184,016,003)						169,235,733

    

Principal Amount (000)		Description (1)			Coupon	Maturity	Ratings (2)	Value
		SHORT-TERM INVESTMENTS – 0.8% (0.6% of Total Investments)
		U.S. GOVERNMENT AND AGENCY OBLIGATIONS  –  0.8% (0.6% of Total Investments)
$970		Federal Home Loan Bank Discount Notes			0.000%	10/01/19	N/R	$970,000
		Total Short-Term Investments (cost $970,000)						970,000
		Total Investments (cost $184,986,003) – 135.9%						170,205,733
		Reverse Repurchase Agreements – (37.5)% (5)						(47,000,000)
		Other Assets Less Liabilities – 1.6%						2,054,204
		Net Assets Applicable to Common Shares – 100%						$125,259,937

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Summary of Investments in Emerging Markets Countries

Turkey	8.1%
Ukraine	7.7%
South Africa	6.5%
Rwanda	5.3%
Iraq	5.1%
Ecuador	4.7%
El Salvador	4.1%
Egypt	4.0%
Nigeria	3.9%
Lebanon	3.7%
Ghana	3.6%
Costa Rica	3.2%
Barbados	3.2%
Zambia	3.1%
Mongolia	2.7%
China	2.7%
Russia	2.7%
Bahrain	2.5%
Bahamas	2.3%

Brazil	2.1%
Sri Lanka	2.1%
Mauritius	1.9%
Pakistan	1.9%
Kazakhstan	1.7%
Argentina	1.6%
India	1.3%
Azerbaijan	1.2%
Indonesia	0.9%
Senegal	0.7%
Belarus	0.5%
Colombia	0.4%
Paraguay	0.3%
Bermuda	0.2%
Dominican Republic	0.1%
Total Emerging Market Countries	96.0%
Total Developed Countries	4.0%
Total Investments	100%

 

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.

Fair Value Measurements

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

Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).

Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

	Level 1	Level 2	Level 3	Total
Long-Tem Investments:
Emerging Markets Debt	$ —	$97,833,733	$ —	$97,833,733
Corporate Bonds	—	71,402,000	—	71,402,000
Short-Term Investments:
U.S. Government and Agency Obligations	—	970,000	—	970,000
Total	$ —	$170,205,733	$ —	$170,205,733

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JEMD	Nuveen Emerging Markets Debt 2022 Target Term Fund (continued)
	Portfolio of Investments September 30, 2019
	(Unaudited)

	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 applicable to common shares unless otherwise noted.
(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.
(3)	Investment, or portion of investment has been pledged to collateralize the net payment obligations for investments in reverse repurchase agreements. As of the end of the reporting period, investments with a value of $69,469,886 have been pledged as collateral for reverse repurchase agreements.
(4)	Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.
(5)	Reverse Repurchase Agreements as a percentage of Total Investments is 27.6%.
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.
PIK	Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.
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.

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