1
Nuveen
Real
Estate
Income
Fund
Portfolio
of
Investments
September
30,
2023
(Unaudited)
JRS
Shares
Description
(a)
Value
LONG-TERM
INVESTMENTS
-
138.6% 
(96.8%
of
Total
Investments)
X
–
REAL
ESTATE
INVESTMENT
TRUST
COMMON
STOCKS
-
91
.6
%
(
64
.0
%
of
Total
Investments)
X
203,798,491
Data
Center
REITs
-
11.1%
86,459
Digital
Realty
Trust
Inc  
$
10,463,268
19,650
Equinix
Inc  
14,271,009
Total
Data
Center
REITs
24,734,277
Health
Care
REITs
-
10.3%
238,148
Healthpeak
Properties
Inc  
4,372,397
225,085
Ventas
Inc  
9,482,831
110,946
Welltower
Inc  
9,088,697
Total
Health
Care
REITs
22,943,925
Hotel
&
Resort
REITs
-
2.9%
277,006
Host
Hotels
&
Resorts
Inc  
4,451,486
86,240
Sunstone
Hotel
Investors
Inc  
806,344
103,127
Xenia
Hotels
&
Resorts
Inc  
1,214,836
Total
Hotel
&
Resort
REITs
6,472,666
Industrial
REITs
-
12.5%
88,355
First
Industrial
Realty
Trust
Inc  
4,204,815
209,606
Prologis
Inc  
23,519,889
Total
Industrial
REITs
27,724,704
Multi-Family
Residential
REITs
-
14.2%
169,672
Apartment
Income
REIT
Corp  
5,208,930
35,817
AvalonBay
Communities
Inc  
6,151,212
59,049
Camden
Property
Trust  
5,584,855
128,109
Equity
Residential  
7,521,279
11,910
Essex
Property
Trust
Inc  
2,525,992
17,005
Mid-America
Apartment
Communities
Inc  
2,187,693
65,155
UDR
Inc  
2,324,079
Total
Multi-Family
Residential
REITs
31,504,040
Office
REITs
-
6.8%
52,024
Alexandria
Real
Estate
Equities
Inc  
5,207,602
43,268
Boston
Properties
Inc  
2,573,581
53,310
Cousins
Properties
Inc  
1,085,925
184,895
Douglas
Emmett
Inc  
2,359,260
52,680
Kilroy
Realty
Corp  
1,665,215
130,760
Paramount
Group
Inc  
604,111
41,610
SL
Green
Realty
Corp  
1,552,053
Total
Office
REITs
15,047,747
Other
Specialized
REITs
-
1.7%
133,245
VICI
Properties
Inc  
3,877,429
Total
Other
Specialized
REITs
3,877,429
Real
Estate
Operating
Companies
-
0.2%
58,990
Tricon
Residential
Inc  
436,526
Total
Real
Estate
Operating
Companies
436,526
Retail
REITs
-
12.8%
58,380
Federal
Realty
Investment
Trust  
5,290,980
313,206
Kite
Realty
Group
Trust  
6,708,873
58,640
Macerich
Co/The  
639,762
54,350
Regency
Centers
Corp  
3,230,564
94,804
Simon
Property
Group
Inc  
10,241,676
Nuveen
Real
Estate
Income
Fund
(continued)
Portfolio
of
Investments
September
30,
2023
(Unaudited)
2
JRS
Shares
Description
(a)
Value
Retail
REITs
(continued)
194,895
SITE
Centers
Corp  
$
2,403,055
Total
Retail
REITs
28,514,910
Self-Storage
REITs
-
9.0%
194,607
CubeSmart  
7,420,365
32,290
Extra
Space
Storage
Inc  
3,925,818
33,320
Public
Storage  
8,780,487
Total
Self-Storage
REITs
20,126,670
Single-Family
Residential
REITs
-
8.6%
335,632
American
Homes
4
Rent,
Class
A  
11,307,442
45,400
Equity
LifeStyle
Properties
Inc  
2,892,434
125,965
Invitation
Homes
Inc  
3,991,831
7,735
Sun
Communities
Inc  
915,360
Total
Single-Family
Residential
REITs
19,107,067
Telecom
Tower
REITs
-
1.5%
7,055
Crown
Castle
Inc  
649,272
13,285
SBA
Communications
Corp  
2,659,258
Total
Telecom
Tower
REITs
3,308,530
Total
Real
Estate
Investment
Trust
Common
Stocks
(cost
$176,441,977)
203,798,491
Shares
Description
(a)
Coupon
Value
X
–
REAL
ESTATE
INVESTMENT
TRUST
PREFERRED
STOCKS
-
47
.0
%
(
32
.8
%
of
Total
Investments)
X
104,544,555
Data
Center
REITs
-
3.8%
197,465
Digital
Realty
Trust
Inc
5.200%
$
3,998,666
97,500
Digital
Realty
Trust
Inc
5.850%
2,192,775
107,345
Digital
Realty
Trust
Inc
5.250%
2,183,397
Total
Data
Center
REITs
8,374,838
Diversified
REITs
-
1.3%
35,010
Armada
Hoffler
Properties
Inc
6.750%
738,711
10,130
CTO
Realty
Growth
Inc
6.375%
185,278
54,110
DigitalBridge
Group
Inc
7.150%
1,152,543
43,965
DigitalBridge
Group
Inc
7.125%
949,644
Total
Diversified
REITs
3,026,176
Hotel
&
Resort
REITs
-
5.5%
95,245
Chatham
Lodging
Trust
6.625%
1,944,903
141,820
DiamondRock
Hospitality
Co
8.250%
3,614,992
147,075
Pebblebrook
Hotel
Trust
6.375%
2,895,907
57,695
Pebblebrook
Hotel
Trust
5.700%
1,062,742
22,025
Pebblebrook
Hotel
Trust
6.300%
438,738
65,150
Sunstone
Hotel
Investors
Inc
5.700%
1,342,090
41,060
Sunstone
Hotel
Investors
Inc
6.125%
872,935
Total
Hotel
&
Resort
REITs
12,172,307
Industrial
REITs
-
3.2%
59,877
Prologis
Inc
8.540%
3,398,020
159,235
Rexford
Industrial
Realty
Inc
5.625%
3,224,509
23,621
Rexford
Industrial
Realty
Inc
5.875%
500,765
Total
Industrial
REITs
7,123,294
Multi-Family
Residential
REITs
-
0.8%
34,373
Mid-America
Apartment
Communities
Inc
8.500%
1,844,799
Total
Multi-Family
Residential
REITs
1,844,799
3
Shares  
Description
(a)
Coupon
Value
Office
REITs
-
13.0%
12,713
Highwoods
Properties
Inc
8.625%
$
13,587,208
175,808
Hudson
Pacific
Properties
Inc
4.750%
2,187,052
152,510
SL
Green
Realty
Corp
6.500%
2,882,439
229,040
Vornado
Realty
Trust
5.250%
3,339,403
214,604
Vornado
Realty
Trust
5.250%
3,137,511
178,635
Vornado
Realty
Trust
4.450%
2,231,151
107,649
Vornado
Realty
Trust
5.400%
1,555,528
Total
Office
REITs
28,920,292
Other
Specialized
REITs
-
0.2%
21,085
EPR
Properties
5.750%
391,548
Total
Other
Specialized
REITs
391,548
Retail
REITs
-
9.9%
128,290
Agree
Realty
Corp
4.250%
2,147,575
145,990
Federal
Realty
Investment
Trust
5.000%
2,924,180
186,964
Kimco
Realty
Corp
5.250%
4,032,813
165,989
Kimco
Realty
Corp
5.125%
3,513,987
60,825
Regency
Centers
Corp
6.250%
1,490,213
53,645
Regency
Centers
Corp
5.875%
1,281,579
125,180
Saul
Centers
Inc
6.000%
2,641,298
19,985
Saul
Centers
Inc
6.125%
419,685
5,494
Simon
Property
Group
Inc
8.375%
308,131
116,200
SITE
Centers
Corp
6.375%
2,647,036
27,340
Spirit
Realty
Capital
Inc
6.000%
575,780
Total
Retail
REITs
21,982,277
Self-Storage
REITs
-
7.4%
77,946
National
Storage
Affiliates
Trust
6.000%
1,749,888
262,930
Public
Storage
5.600%
6,386,570
119,064
Public
Storage
5.050%
2,753,950
89,715
Public
Storage
4.625%
1,767,385
80,955
Public
Storage
4.875%
1,705,722
73,305
Public
Storage
4.000%
1,271,842
27,485
Public
Storage
4.125%
493,905
12,910
Public
Storage
4.700%
252,649
Total
Self-Storage
REITs
16,381,911
Nuveen
Real
Estate
Income
Fund
(continued)
Portfolio
of
Investments
September
30,
2023
(Unaudited)
4
JRS
Investments
in
Derivatives
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Shares  
Description
(a)
Coupon
Value
Single-Family
Residential
REITs
-
1.9%
117,810
American
Homes
4
Rent
6.250%
$
2,651,903
65,105
American
Homes
4
Rent
5.875%
1,416,034
12,330
UMH
Properties
Inc
6.375%
259,176
Total
Single-Family
Residential
REITs
4,327,113
Total
Real
Estate
Investment
Trust
Preferred
Stocks
(cost
$126,295,976)
104,544,555
Total
Long-Term
Investments
(cost
$302,737,953)
308,343,046
Principal
Amount
(000)
Description
(a)
Coupon
Maturity
Value
SHORT-TERM
INVESTMENTS
-
4.5% (3.2%
of
Total
Investments)
X
–
REPURCHASE
AGREEMENTS
-
4
.5
%
(
3
.2
%
of
Total
Investments)
X
10,066,113
$
506
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
9/30/23,
repurchase
price
$506,181,
collateralized
by
$717,700,
U.S.
Treasury
Bonds,
2.875%,
due
5/15/52,
value
$516,239
1.600%
10/02/23
$
506,113
9,560
Repurchase
Agreement
with
Fixed
Income
Clearing
Corporation,
dated
9/30/23,
repurchase
price
$9,564,206,
collateralized
by
$12,240,100,
U.S.
Treasury
Bonds,
3.375%,
due
11/15/48,
value
$9,751,273
5.280%
10/02/23
9,560,000
Total
Repurchase
Agreements
(cost
$10,066,113)
10,066,113
Total
Short-Term
Investments
(cost
$10,066,113)
10,066,113
Total
Investments
(cost
$
312,804,066
)
-
143
.1
%
318,409,159
Borrowings
-
(42.4)%
(b),(c)
(
94,400,000
)
Other
Assets
&
Liabilities,
Net
-  (0.7)%
(
1,488,515
)
Net
Assets
Applicable
to
Common
Shares
-
100%
$
222,520,644
Interest
Rate
Swaps
-
OTC
Uncleared
Counterparty
Notional
Amount
Fund
Pay/Receive
Floating
Rate
Floating
Rate
Index
Fixed
Rate
(Annualized)
Fixed
Rate
Payment
Frequency
Effective
Date
(d)
Optional
Termination
Date
Maturity
Date
Value
Unrealized
Appreciation
(Depreciation)
Morgan
Stanley
Capital
Services
LLC
$
72,400,000
Receive
1-Month
LIBOR
1.994%
Monthly
6/01/18
7/01/25
7/01/27
$
3,895,837
$
3,895,837
5
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Real
Estate
Investment
Trust
Common
Stocks
$
203,798,491
$
–
$
–
$
203,798,491
Real
Estate
Investment
Trust
Preferred
Stocks
101,146,535
3,398,020
–
104,544,555
Short-Term
Investments:
Repurchase
Agreements
–
10,066,113
–
10,066,113
Investments
in
Derivatives:
Interest
Rate
Swaps*
–
3,895,837
–
3,895,837
Total
$
304,945,026
$
17,359,970
$
–
$
322,304,996
*
Represents
net
unrealized
appreciation
(depreciation).
For
Fund
portfolio
compliance
purposes,
the
Fund’s
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
into
sectors
for
reporting
ease.
(a)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(b)
Borrowings
as
a
percentage
of
Total
Investments
is
29.6%.
(c)
The
Fund
may
pledge
up
to
100%
of
its
eligible
investments
(excluding
any
investments
separately
pledged
as
collateral
for
specific
investments
in
derivatives,
when
applicable)
in
the
Portfolio
of
Investments
as
collateral
for
borrowings.
As
of
the
end
of
the
reporting
period,
investments
with
a
value
of
$196,890,392
have
been
pledged
as
collateral
for
borrowings.
(d)
Effective
date
represents
the
date
on
which
both
the
Fund
and
counterparty
commence
interest
payment
accruals
on
each
contract.
REIT
Real
Estate
Investment
Trust
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