UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-22518

 

Nuveen Short Duration Credit Opportunities Fund

(Exact name of registrant as specified in charter)

 

   333 West Wacker Drive, Chicago, Illinois 60606   

 

 

(Address of principal executive offices) (Zip code)

 

 

Kevin J. McCarthy—Vice President and Secretary
   333 West Wacker Drive, Chicago, Illinois 60606   

 

 

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

312-917-7700

 

Date of fiscal year end:

7/31

 

Date of reporting period:

10/31/13

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

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

 

 

 



 

Item 1. Schedule of Investments

 



 

 

 

Portfolio of Investments (Unaudited)

 

 

 

 

 

Nuveen Short Duration Credit Opportunities Fund (JSD)

 

 

 

 

 

October 31, 2013

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity (2)

 

Ratings (3)

 

Value

 

 

 

Long-Term Investments – 140.7% (99.5% of Total Investments)

 

 

 

 

 

 

 

Variable Rate Senior Loan Interests – 120.4% (85.2% of Total Investments) (4)

 

 

 

 

 

 

 

Aerospace & Defense – 0.7% (0.5% of Total Investments)

 

 

 

 

 

 

 

$

143

 

Beechcraft Holdings LLC, Exit Term Loan B

 

5.750%

 

2/15/20

 

BB-

 

$

144,405

 

1,241

 

Sequa Corporation, Term Loan B

 

5.250%

 

6/19/17

 

B1

 

1,252,838

 

1,384

 

Total Aerospace & Defense

 

 

 

 

 

 

 

1,397,243

 

 

 

Airlines – 4.1% (2.9% of Total Investments)

 

 

 

 

 

 

 

 

 

998

 

American Airlines, Inc., Exit Term Loan

 

4.750%

 

6/27/19

 

Baa2

 

1,005,605

 

3,176

 

Delta Air Lines, Inc., Term Loan B1

 

4.000%

 

10/18/18

 

Ba1

 

3,194,738

 

993

 

Delta Air Lines, Inc., Term Loan B2

 

3.250%

 

4/18/16

 

Ba1

 

997,994

 

1,955

 

Delta Air Lines, Inc., Term Loan B

 

4.250%

 

4/20/17

 

Ba1

 

1,967,569

 

1,000

 

US Airways, Inc., Term Loan B1

 

4.250%

 

5/23/19

 

BB-

 

1,003,036

 

8,122

 

Total Airlines

 

 

 

 

 

 

 

8,168,942

 

 

 

Auto Components – 0.1% (0.1% of Total Investments)

 

 

 

 

 

 

 

 

 

170

 

Schaeffler AG, Term Loan C

 

4.250%

 

1/27/17

 

Ba2

 

171,295

 

 

 

Building Products – 0.4% (0.3% of Total Investments)

 

 

 

 

 

 

 

 

 

750

 

Quikrete Holdings, Inc., Term Loan, First Lien

 

4.000%

 

9/28/20

 

B+

 

754,149

 

 

 

Capital Markets – 2.3% (1.6% of Total Investments)

 

 

 

 

 

 

 

 

 

661

 

American Capital, LTD., Term Loan, First Lien

 

4.000%

 

8/22/16

 

BB-

 

664,003

 

3,866

 

Walter Investment Management Corporation, Tranche B, Term Loan

 

5.750%

 

11/28/17

 

B+

 

3,911,401

 

4,527

 

Total Capital Markets

 

 

 

 

 

 

 

4,575,404

 

 

 

Chemicals – 0.6% (0.4% of Total Investments)

 

 

 

 

 

 

 

 

 

1,184

 

Ineos US Finance LLC, Term Loan, First Lien

 

4.000%

 

5/04/18

 

BB-

 

1,188,895

 

 

 

Commercial Services & Supplies – 4.5% (3.2% of Total Investments)

 

 

 

 

 

 

 

2,500

 

Aramark Corporation, Term Loan, Tranche D

 

4.000%

 

9/09/19

 

BB-

 

2,510,925

 

192

 

Brand Energy & Infrastructure Services, Inc., Canadian Tranche 1, Term Loan

 

6.250%

 

10/23/18

 

B2

 

192,475

 

500

 

Brand Energy & Infrastructure Services, Inc., Term Loan, Second Lien

 

11.000%

 

10/23/19

 

CCC+

 

510,834

 

798

 

Brand Energy & Infrastructure Services, Inc., Term Loan

 

6.250%

 

10/23/18

 

B

 

801,980

 

840

 

Brickman Group Holdings, Inc., Tranche B2, Term Loan

 

3.259%

 

10/14/16

 

B+

 

844,277

 

1,059

 

Brickman Group Holdings, Inc., Tranche B3, Term Loan

 

4.000%

 

9/28/18

 

B+

 

1,066,501

 

2,638

 

Harland Clarke Holdings Corporation, Term Loan B3

 

7.000%

 

5/22/18

 

B+

 

2,644,699

 

493

 

Houghton Mifflin, Term Loan

 

5.250%

 

5/22/18

 

B2

 

496,502

 

9,020

 

Total Commercial Services & Supplies

 

 

 

 

 

 

 

9,068,193

 

 

 

Communications Equipment – 2.0% (1.4% of Total Investments)

 

 

 

 

 

 

 

1,489

 

Alcatel-Lucent, Inc., Term Loan C

 

5.750%

 

1/30/19

 

B+

 

1,512,826

 

1,500

 

Avaya, Inc., Term Loan B3

 

4.762%

 

10/26/17

 

B1

 

1,391,042

 

1,160

 

Telesat Canada Inc., Term Loan B

 

3.500%

 

3/28/19

 

Ba2

 

1,164,536

 

4,149

 

Total Communications Equipment

 

 

 

 

 

 

 

4,068,404

 

 

 

Computers & Peripherals – 2.9% (2.0% of Total Investments)

 

 

 

 

 

 

 

5,000

 

Dell, Inc., Term Loan B, DD1

 

4.500%

 

3/24/20

 

BB+

 

4,977,190

 

794

 

SunGard Data Systems, Inc., Term Loan D

 

4.500%

 

1/31/20

 

BB

 

800,775

 

5,794

 

Total Computers & Peripherals

 

 

 

 

 

 

 

5,777,965

 

 

 

Consumer Finance – 0.5% (0.3% of Total Investments)

 

 

 

 

 

 

 

 

 

961

 

Royalty Pharma Finance Trust, Incremental Term Loan

 

4.000%

 

11/09/18

 

Baa2

 

967,045

 

 

 

Containers & Packaging – 0.6% (0.4% of Total Investments)

 

 

 

 

 

 

 

1,135

 

Reynolds Group Holdings, Inc., Term Loan

 

4.750%

 

9/28/18

 

B+

 

1,145,181

 

 

 

Distributors – 1.5% (1.1% of Total Investments)

 

 

 

 

 

 

 

 

 

2,963

 

HD Supply, Inc., Term Loan B

 

4.500%

 

10/12/17

 

B+

 

2,981,427

 

 

 

Diversified Consumer Services – 5.4% (3.8% of Total Investments)

 

 

 

 

 

 

 

2,060

 

Cengage Learning Acquisitions, Inc., Term Loan, (5)

 

4.750%

 

7/03/14

 

D

 

1,507,414

 

998

 

Ceridian Corporation, New Replacement Term Loan

 

4.420%

 

8/14/15

 

B1

 

1,003,320

 

4,000

 

Hilton Hotels Corporation, Term Loan B2

 

4.000%

 

10/26/20

 

BB

 

4,027,752

 

2,186

 

Laureate Education, Inc., Term Loan B

 

5.000%

 

6/16/18

 

B1

 

2,203,781

 

1,500

 

Spotless Holdings, SAS, Term Loan, First Lien

 

5.000%

 

10/02/18

 

B1

 

1,509,375

 

500

 

Spotless Holdings, SAS, Term Loan, Second Lien

 

8.750%

 

4/02/19

 

B3

 

507,812

 

11,244

 

Total Diversified Consumer Services

 

 

 

 

 

 

 

10,759,454

 

 

 

Diversified Financial Services – 2.6% (1.9% of Total Investments)

 

 

 

 

 

 

 

1,493

 

Ocwen Financial Corporation, Term Loan B

 

5.000%

 

2/15/18

 

B1

 

1,510,970

 

3,722

 

WideOpenWest Finance LLC, Term Loan B

 

4.750%

 

4/01/19

 

B1

 

3,755,766

 

5,215

 

Total Diversified Financial Services

 

 

 

 

 

 

 

5,266,736

 

 

 

Electronic Equipment & Instruments – 0.6% (0.4% of Total Investments)

 

 

 

 

 

1,440

 

SMART Modular Technologies, Inc., Term Loan B

 

8.250%

 

8/26/17

 

B

 

1,217,664

 

 

 

Food & Staples Retailing – 2.9% (2.1% of Total Investments)

 

 

 

 

 

 

 

1,000

 

Albertson’s LLC, Delayed Draw, Term Loan B, (WI/DD)

 

TBD

 

TBD

 

BB-

 

1,001,563

 

903

 

Albertson’s LLC, Term Loan B1

 

4.250%

 

3/21/16

 

BB-

 

906,348

 

589

 

Albertson’s LLC, Term Loan B2

 

4.750%

 

3/21/19

 

BB-

 

591,382

 

1,000

 

Rite Aid Corporation, Tranche 2, Term Loan, Second Lien

 

4.875%

 

6/21/21

 

B

 

1,011,250

 

993

 

Supervalu, Inc., New Term Loan B

 

5.000%

 

3/21/19

 

B+

 

1,000,753

 

1,425

 

Wilton Products, Inc., Tranche B, Term Loan

 

7.500%

 

8/30/18

 

B

 

1,325,250

 

5,910

 

Total Food & Staples Retailing

 

 

 

 

 

 

 

5,836,546

 

 

 

Food Products – 4.2% (2.9% of Total Investments)

 

 

 

 

 

 

 

 

 

1,489

 

AdvancePierre Foods, Inc., Term Loan, First Lien

 

5.750%

 

7/10/17

 

B1

 

1,500,536

 

118

 

Ferrara Candy Company, Term Loan B

 

7.500%

 

6/18/18

 

B

 

113,674

 

2,294

 

H.J Heinz Company, Term Loan B2

 

3.500%

 

6/05/20

 

BB

 

2,314,185

 

995

 

Pinnacle Foods Finance LLC, Term Loan G

 

3.250%

 

4/29/20

 

BB-

 

995,089

 

3,431

 

US Foods, Inc., Incremental Term Loan

 

4.500%

 

3/31/19

 

B2

 

3,440,407

 

8,327

 

Total Food Products

 

 

 

 

 

 

 

8,363,891

 

 

 

Health Care Equipment & Supplies – 3.5% (2.5% of Total Investments)

 

 

 

 

 

 

 

500

 

Ardent Medical Services, Inc., Term Loan, Second Lien

 

11.000%

 

1/02/19

 

CCC+

 

511,875

 

1,053

 

Hologic, Inc., Refinancing Term Loan, Tranche B

 

3.750%

 

8/01/19

 

BBB-

 

1,060,550

 

1,044

 

Kinetic Concepts, Inc., Term Loan D1

 

4.500%

 

5/04/18

 

BB-

 

1,053,341

 

3,456

 

Onex Carestream Finance LP, Term Loan, First Lien

 

5.000%

 

6/07/19

 

B+

 

3,495,133

 

1,000

 

Onex Carestream Finance LP, Term Loan, Second Lien

 

9.500%

 

12/07/19

 

B-

 

1,006,250

 

7,053

 

Total Health Care Equipment & Supplies

 

 

 

 

 

 

 

7,127,149

 

 

 

Health Care Providers & Services – 11.6% (8.2% of Total Investments)

 

 

 

 

 

 

 

2,993

 

Apria Healthcare Group, Inc., Term Loan, First Lien

 

6.750%

 

4/06/20

 

BB-

 

3,029,257

 

949

 

Ardent Medical Services, Inc., Term Loan, First Lien

 

6.750%

 

7/02/18

 

B+

 

955,782

 

938

 

BioScrip, Inc., Delayed Draw, Term Loan

 

6.500%

 

7/31/20

 

B

 

928,125

 

184

 

Community Health Systems, Inc., Extended Term Loan

 

3.760%

 

1/25/17

 

BB

 

185,361

 

971

 

CRC Health Corporation, Term Loan B3

 

8.500%

 

11/16/15

 

B+

 

981,599

 

2,978

 

DaVita, Inc., New Term Loan B2

 

4.000%

 

11/01/19

 

Ba2

 

2,997,705

 

850

 

Genesis Healthcare LLC, Term Loan

 

10.002%

 

12/04/17

 

B+

 

870,607

 

3,130

 

Golden Living, Term Loan

 

5.000%

 

5/04/18

 

B

 

3,027,828

 

1,161

 

Health Management Associates, Inc., Replacement Term Loan B

 

3.500%

 

11/16/18

 

BB-

 

1,162,784

 

993

 

Heartland Dental Care, Inc., Term Loan, First Lien

 

6.250%

 

12/21/18

 

Ba3

 

1,002,425

 

500

 

Heartland Dental Care, Inc., Term Loan, Second Lien

 

9.750%

 

6/20/19

 

CCC+

 

509,688

 

1,222

 

IASIS Healthcare LLC, Term Loan B2, First Lien

 

4.500%

 

5/03/18

 

Ba3

 

1,231,586

 

358

 

Kindred Healthcare, Inc., Term Loan B1

 

4.250%

 

6/01/18

 

Ba3

 

358,337

 

922

 

LHP Operations Co. LLC, Term Loan B

 

9.000%

 

7/03/18

 

B

 

884,800

 

990

 

National Mentor Holdings, Inc., Term Loan B

 

6.500%

 

2/09/17

 

B+

 

999,135

 

2,469

 

Sheridan Holdings, Inc., Term Loan, First Lien

 

4.500%

 

6/29/18

 

B+

 

2,479,645

 

1,000

 

Sheridan Holdings, Inc., Term Loan, Second Lien

 

9.000%

 

7/01/19

 

B-

 

1,009,583

 

758

 

Skilled Healthcare Group, Inc., Term Loan

 

6.750%

 

4/09/16

 

B

 

758,923

 

23,366

 

Total Health Care Providers & Services

 

 

 

 

 

 

 

23,373,170

 

 

 

Hotels, Restaurants & Leisure – 6.3% (4.4% of Total Investments)

 

 

 

 

 

 

 

2,336

 

24 Hour Fitness Worldwide, Inc., Term Loan B

 

5.250%

 

4/22/16

 

Ba3

 

2,361,151

 

1,419

 

BLB Management Services, Inc., Term Loan

 

5.250%

 

11/10/18

 

BB-

 

1,435,645

 

2,295

 

CCM Merger, Inc., Term Loan

 

5.000%

 

3/01/17

 

B+

 

2,318,274

 

1,500

 

CityCenter Holdings LLC, Term Loan B

 

5.000%

 

10/26/20

 

BB-

 

1,514,844

 

1,955

 

Landry’s Restaurants, Inc., Term Loan B

 

4.750%

 

4/24/18

 

BB-

 

1,972,921

 

993

 

MGM Resorts International, Term Loan B

 

3.500%

 

12/20/19

 

BB

 

993,844

 

1,990

 

Station Casino LLC, Term Loan B

 

5.000%

 

3/02/20

 

B1

 

2,010,306

 

12,488

 

Total Hotels, Restaurants & Leisure

 

 

 

 

 

 

 

12,606,985

 

 

 

Household Durables – 1.1% (0.8% of Total Investments)

 

 

 

 

 

 

 

 

 

646

 

Spectrum Brands, Inc., Term Loan

 

4.504%

 

12/17/19

 

BB

 

649,864

 

1,667

 

Sun Products Corporation, Term Loan

 

5.500%

 

3/23/20

 

B1

 

1,609,981

 

2,313

 

Total Household Durables

 

 

 

 

 

 

 

2,259,845

 

 

 

Insurance – 2.6% (1.8% of Total Investments)

 

 

 

 

 

 

 

 

 

993

 

Alliant Holdings I LLC, Initial Term Loan B, First Lien

 

5.000%

 

12/20/19

 

B1

 

999,163

 

1,250

 

Hub International Holdings, Inc., Term Loan B

 

4.750%

 

10/02/20

 

B1

 

1,257,422

 

1,985

 

USI Holdings Corporation, Term Loan B

 

5.000%

 

12/27/19

 

B1

 

1,996,910

 

950

 

Vantage Drilling Company, Term Loan B

 

6.250%

 

10/25/17

 

B-

 

955,541

 

5,178

 

Total Insurance

 

 

 

 

 

 

 

5,209,036

 

 

 

Internet & Catalog Retail – 1.4% (1.0% of Total Investments)

 

 

 

 

 

 

 

2,729

 

EIG Investors Corp., Term Loan, First Lien

 

6.250%

 

11/09/19

 

B1

 

2,745,295

 

 

 

Internet Software & Services – 4.9% (3.5% of Total Investments)

 

 

 

 

 

 

 

727

 

Ancestry.com, Inc., Term Loan B1

 

5.250%

 

12/28/18

 

Ba2

 

732,019

 

1,000

 

ION Trading Technologies S.A.R.L., Term Loan, Second Lien

 

8.250%

 

5/22/21

 

CCC+

 

1,007,917

 

888

 

Sabre Inc., Term Loan C

 

4.000%

 

2/19/18

 

B1

 

890,987

 

2,480

 

Sabre, Inc., Term Loan B

 

5.250%

 

2/19/19

 

B1

 

2,508,278

 

2,000

 

San Juan Cable LLC, Term Loan, Second Lien

 

10.000%

 

6/09/18

 

CCC

 

2,012,500

 

2,723

 

SSI Investments II, Ltd., New Term Loan

 

5.000%

 

5/26/17

 

Ba3

 

2,741,151

 

9,818

 

Total Internet Software & Services

 

 

 

 

 

 

 

9,892,852

 

 

 

IT Services – 4.9% (3.5% of Total Investments)

 

 

 

 

 

 

 

 

 

662

 

CompuCom Systems, Inc., Term Loan B

 

4.250%

 

5/09/20

 

B1

 

663,660

 

1,500

 

EIG Investors Corp., Term Loan, Second Lien

 

10.250%

 

5/09/20

 

CCC+

 

1,524,375

 

933

 

SRA International, Term Loan

 

6.500%

 

7/20/18

 

B1

 

919,146

 

995

 

SunGard Data Systems, Inc., Term Loan E

 

4.000%

 

3/08/20

 

BB

 

1,004,795

 

2,317

 

VFH Parent LLC, Term Loan B

 

5.775%

 

7/08/16

 

N/R

 

2,337,072

 

3,456

 

Zayo Group LLC, Term Loan B

 

4.500%

 

7/02/19

 

B1

 

3,478,933

 

9,863

 

Total IT Services

 

 

 

 

 

 

 

9,927,981

 

 

 

Leisure Equipment & Products – 1.9% (1.3% of Total Investments)

 

 

 

 

 

 

 

2,263

 

Bombardier Recreational Products, Inc., Term Loan

 

4.000%

 

1/30/19

 

B+

 

2,275,586

 

1,493

 

Equinox Holdings, Inc., New Initial Term Loan B

 

4.501%

 

1/31/20

 

B1

 

1,505,559

 

3,756

 

Total Leisure Equipment & Products

 

 

 

 

 

 

 

3,781,145

 

 

 

Media – 5.7% (4.0% of Total Investments)

 

 

 

 

 

 

 

 

 

579

 

Cengage Learning Acquisitions, Inc., Tranche B, Extended Term Loan, (5)

 

7.750%

 

7/04/17

 

D

 

423,165

 

837

 

Charter Communications Operating Holdings LLC, Term Loan F

 

3.000%

 

12/31/20

 

Baa3

 

830,781

 

968

 

Cumulus Media, Inc., Term Loan, Second Lien

 

7.500%

 

9/16/19

 

B3

 

994,138

 

998

 

Emerald Expositions Holdings, Inc., Term Loan, First Lien

 

5.500%

 

6/17/20

 

BB-

 

1,005,397

 

995

 

Internet Brands, Inc., Term Loan B

 

6.250%

 

3/18/19

 

B+

 

1,001,219

 

1,493

 

McGraw-Hill Education Holdings LLC, Term Loan

 

9.000%

 

3/22/19

 

B2

 

1,520,019

 

1,000

 

Media General, Inc., Delayed Draw, Term Loan, (6)

 

3.250%

 

7/31/20

 

BB-

 

1,006,250

 

977

 

Radio One, Inc., Term Loan B, First Lien

 

7.500%

 

2/14/17

 

B+

 

1,003,489

 

1,000

 

Springer Science & Business Media, Inc., Term Loan

 

5.000%

 

8/14/20

 

B

 

1,001,250

 

2,571

 

UPC Broadband Holding BV, Term Loan AF

 

4.000%

 

1/31/21

 

BB-

 

2,592,322

 

11,418

 

Total Media

 

 

 

 

 

 

 

11,378,030

 

 

 

Multiline Retail – 1.0% (0.7% of Total Investments)

 

 

 

 

 

 

 

 

 

2,000

 

Hudson’s Bay Company, Term Loan B, First Lien, (WI/DD)

 

TBD

 

TBD

 

BB

 

2,029,000

 

 

 

Oil, Gas & Consumable Fuels – 8.1% (5.7% of Total Investments)

 

 

 

 

 

 

 

1,224

 

Buffalo Gulf Coast Terminals, Term Loan B

 

5.250%

 

10/31/17

 

BB+

 

1,238,142

 

1,623

 

Crestwood Holdings LLC, Term Loan B

 

7.000%

 

6/19/19

 

B

 

1,662,879

 

2,992

 

Drill Rigs Holdings, Inc., Tranche B1, Term Loan

 

6.000%

 

3/31/21

 

B+

 

3,045,805

 

667

 

EP Energy LLC, Term Loan B3, Second Lien

 

3.500%

 

5/24/18

 

Ba3

 

668,393

 

2,000

 

Fieldwood Energy LLC, Term Loan, Second Lien

 

8.375%

 

9/30/20

 

B2

 

2,038,958

 

728

 

Frac Tech International LLC, Term Loan

 

8.500%

 

5/06/16

 

B3

 

723,185

 

2,300

 

Harvey Gulf International Marine, Inc., Term Loan B

 

5.500%

 

6/18/20

 

B1

 

2,317,250

 

1,000

 

Peabody Energy Corporation, Term Loan B

 

4.250%

 

9/24/20

 

BB+

 

996,875

 

995

 

Rice Drilling LLC., Term Loan, Second Lien

 

8.500%

 

10/25/18

 

N/R

 

1,011,169

 

833

 

Samson Investment Company, Initial Term Loan, Second Lien

 

6.000%

 

9/25/18

 

B1

 

841,927

 

995

 

Saxon Energy Services, Inc., Term Loan

 

5.500%

 

2/13/19

 

Ba3

 

1,000,721

 

750

 

Shelf Drilling Holdings LTD., Term Loan

 

10.000%

 

10/07/18

 

B+

 

760,312

 

16,107

 

Total Oil, Gas & Consumable Fuels

 

 

 

 

 

 

 

16,305,616

 

 

 

Pharmaceuticals – 9.5% (6.7% of Total Investments)

 

 

 

 

 

 

 

 

 

1,950

 

Auxilium Pharmaceuticals, Inc., Term Loan

 

6.250%

 

4/26/17

 

Ba2

 

1,980,786

 

563

 

BioScrip, Inc., Term Loan B

 

6.500%

 

7/31/20

 

B

 

556,875

 

1,882

 

ConvaTec, Inc., Dollar Term Loan

 

4.000%

 

12/22/16

 

Ba3

 

1,897,140

 

798

 

Generic Drug Holdings, Inc., Term Loan B

 

5.000%

 

8/16/20

 

B1

 

804,318

 

2,946

 

Pharmaceutical Product Development, Inc., Term Loan B, First Lien

 

4.250%

 

12/01/18

 

Ba3

 

2,970,651

 

1,000

 

Pharmaceutical Research Associates, Inc., Term Loan B

 

5.000%

 

9/23/20

 

B1

 

1,003,229

 

1,939

 

Quintiles Transnational Corp., Term Loan B2

 

4.000%

 

6/08/18

 

BB-

 

1,948,624

 

993

 

Therakos, Inc., Term Loan, First Lien

 

7.500%

 

12/27/17

 

B

 

994,361

 

4,630

 

Valeant Pharmaceuticals International, Inc., Term Loan E

 

4.500%

 

8/05/20

 

Ba1

 

4,697,139

 

2,216

 

Valeant Pharmaceuticals International, Inc., Tranche B, Term Loan D2

 

3.750%

 

2/13/19

 

BBB-

 

2,237,792

 

18,917

 

Total Pharmaceuticals

 

 

 

 

 

 

 

19,090,915

 

 

 

Real Estate Investment Trust – 1.6% (1.2% of Total Investments)

 

 

 

 

 

 

 

1,500

 

Capital Automotive LP, Term Loan, Second Lien

 

6.000%

 

4/30/20

 

B1

 

1,548,750

 

1,602

 

iStar Financial, Inc., Term Loan

 

4.500%

 

10/15/17

 

BB-

 

1,612,069

 

119

 

Realogy Corporation, Synthetic Letter of Credit

 

4.455%

 

10/10/16

 

BB-

 

118,742

 

3,221

 

Total Real Estate Investment Trust

 

 

 

 

 

 

 

3,279,561

 

 

 

Real Estate Management & Development – 1.8% (1.3% of Total Investments)

 

 

 

 

 

1,633

 

Capital Automotive LP, Term Loan, Tranche B1

 

4.000%

 

4/10/19

 

Ba2

 

1,643,877

 

1,990

 

Realogy Corporation, Term Loan B

 

4.500%

 

3/05/20

 

BB-

 

2,012,801

 

3,623

 

Total Real Estate Management & Development

 

 

 

 

 

 

 

3,656,678

 

 

 

Road & Rail – 0.5% (0.4% of Total Investments)

 

 

 

 

 

 

 

 

 

1,038

 

Swift Transportation Company, Inc., Term Loan B2

 

4.000%

 

12/21/17

 

BB

 

1,046,949

 

 

 

Semiconductors & Equipment – 2.4% (1.7% of Total Investments)

 

 

 

 

 

 

 

1,990

 

Freescale Semiconductor, Inc., Term Loan, Tranche B4

 

5.000%

 

2/28/20

 

B1

 

2,010,886

 

1,000

 

Freescale Semiconductor, Inc., Term Loan, Tranche B5

 

5.000%

 

1/15/21

 

B1

 

1,011,250

 

832

 

Microsemi Corporation, Term Loan, First Lien

 

3.750%

 

2/19/20

 

BB+

 

837,164

 

993

 

NXP Semiconductor LLC, Incremental Term Loan C

 

4.750%

 

1/10/20

 

Ba3

 

1,005,993

 

4,815

 

Total Semiconductors & Equipment

 

 

 

 

 

 

 

4,865,293

 

 

 

Software – 11.2% (7.9% of Total Investments)

 

 

 

 

 

 

 

 

 

1,500

 

Activision Blizzard, Inc., Term Loan B

 

3.250%

 

10/12/20

 

BBB

 

1,506,296

 

1,766

 

Attachmate Corporation, Term Loan, First Lien

 

7.250%

 

11/22/17

 

BB-

 

1,784,894

 

901

 

Blackboard, Inc., Term Loan B2

 

6.250%

 

10/04/18

 

B+

 

908,178

 

1,000

 

BMC Software, Inc., Initial Term Loan

 

5.000%

 

9/10/20

 

B+

 

1,011,458

 

840

 

Datatel Parent Corp, Term Loan B

 

4.500%

 

7/19/18

 

B+

 

847,727

 

983

 

Emdeon Business Services LLC, Term Loan B2

 

3.750%

 

11/02/18

 

BB-

 

987,570

 

978

 

Epicor Software Corporation, Term Loan, B1

 

4.500%

 

5/16/18

 

Ba3

 

985,311

 

990

 

Explorer Holdings, Inc., Term Loan

 

6.000%

 

5/02/18

 

B+

 

994,969

 

874

 

Greeneden U.S. Holdings II LLC, Term Loan B

 

4.000%

 

2/08/20

 

B

 

871,237

 

3,144

 

Infor Enterprise Applications, Term Loan B

 

5.250%

 

4/05/18

 

Ba3

 

3,173,271

 

908

 

IPC Systems, Inc., Extended Term Loan, Tranche B1, First Lien

 

7.750%

 

7/31/17

 

B1

 

890,379

 

3,800

 

IPC Systems, Inc., Term Loan, Second Lien

 

5.418%

 

6/01/15

 

CCC

 

3,258,500

 

2,721

 

Misys PLC, Term Loan B, First Lien

 

5.000%

 

12/12/18

 

Ba3

 

2,746,746

 

794

 

RedPrairie Corporation, Term Loan, First Lien

 

6.750%

 

12/21/18

 

B+

 

802,294

 

728

 

Vertafore, Inc., Term Loan, First Lien

 

4.250%

 

10/03/19

 

B+

 

731,966

 

1,000

 

Vertafore, Inc., Term Loan, Second Lien

 

9.750%

 

10/29/17

 

CCC+

 

1,021,000

 

22,927

 

Total Software

 

 

 

 

 

 

 

22,521,796

 

 

 

Specialty Retail – 1.3% (1.0% of Total Investments)

 

 

 

 

 

 

 

 

 

599

 

Charlotte Russe, Inc., Initial Term Loan

 

6.750%

 

5/22/19

 

B2

 

587,278

 

1,067

 

Collective Brands, Inc., Term Loan B

 

7.250%

 

10/09/19

 

B

 

1,070,475

 

1,049

 

Jo-Ann Stores, Inc., Term Loan, First Lien

 

4.000%

 

3/16/18

 

B+

 

1,050,213

 

2,715

 

Total Specialty Retail

 

 

 

 

 

 

 

2,707,966

 

 

 

Wireless Telecommunication Services – 3.2% (2.3% of Total Investments)

 

 

 

 

 

2,295

 

Clear Channel Communications, Inc., Tranche B, Term Loan

 

3.818%

 

1/29/16

 

CCC+

 

2,231,272

 

2,488

 

Fairpoint Communications, Inc., Term Loan B

 

7.500%

 

2/11/19

 

B

 

2,539,194

 

1,734

 

Presidio, Inc., New Term Loan

 

5.750%

 

3/31/17

 

Ba3

 

1,739,773

 

6,517

 

Total Wireless Telecommunication Services

 

 

 

 

 

 

 

6,510,239

 

$

242,157

 

Total Variable Rate Senior Loan Interests (cost $238,821,490)

 

 

 

 

 

242,023,935

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity

 

Ratings (3)

 

Value

 

 

 

Corporate Bonds – 20.3% (14.3% of Total Investments)

 

 

 

 

 

 

 

 

 

 

 

Commercial Services & Supplies – 0.7% (0.5% of Total Investments)

 

 

 

 

 

 

 

$

500

 

Ceridian Corporation

 

11.250%

 

11/15/15

 

CCC

 

$

503,124

 

816

 

Harland Clarke Holdings

 

9.500%

 

5/15/15

 

B-

 

818,039

 

1,316

 

Total Commercial Services & Supplies

 

 

 

 

 

 

 

1,321,163

 

 

 

Distributors – 0.6% (0.4% of Total Investments)

 

 

 

 

 

 

 

 

 

1,000

 

HD Supply Inc.

 

11.500%

 

7/15/20

 

CCC+

 

1,206,250

 

 

 

Diversified Consumer Services – 0.9% (0.6% of Total Investments)

 

 

 

 

 

 

 

1,650

 

NES Rental Holdings Inc., 144A

 

7.875%

 

5/01/18

 

CCC+

 

1,732,500

 

 

 

Diversified Telecommunication Services – 0.8% (0.6% of Total Investments)

 

 

 

 

 

750

 

IntelSat Limited, 144A

 

7.750%

 

6/01/21

 

CCC+

 

791,250

 

300

 

IntelSat Limited

 

8.125%

 

6/01/23

 

CCC+

 

317,250

 

500

 

Level 3 Communications Inc.

 

11.875%

 

2/01/19

 

B-

 

580,000

 

1,550

 

Total Diversified Telecommunication Services

 

 

 

 

 

 

 

1,688,500

 

 

 

Health Care Equipment & Supplies – 1.5% (1.1% of Total Investments)

 

 

 

 

 

 

 

2,700

 

Kinetic Concepts

 

10.500%

 

11/01/18

 

B-

 

3,044,250

 

 

 

Health Care Providers & Services – 2.3% (1.7% of Total Investments)

 

 

 

 

 

 

 

2,000

 

HCA Inc.

 

8.500%

 

4/15/19

 

BB+

 

2,147,500

 

1,350

 

Iasi’s Healthcare Capital Corporation

 

8.375%

 

5/15/19

 

CCC+

 

1,431,000

 

1,000

 

Truven Health Analytics Inc.

 

10.625%

 

6/01/20

 

CCC+

 

1,133,750

 

4,350

 

Total Health Care Providers & Services

 

 

 

 

 

 

 

4,712,250

 

 

 

Hotels, Restaurants & Leisure – 0.5% (0.3% of Total Investments)

 

 

 

 

 

 

 

1,000

 

Harrah’s Operating Company, Inc.

 

11.250%

 

6/01/17

 

B-

 

997,500

 

 

 

Household Products – 0.4% (0.3% of Total Investments)

 

 

 

 

 

 

 

 

 

700

 

Reynolds Group

 

9.875%

 

8/15/19

 

CCC+

 

774,375

 

 

 

Media – 4.1% (2.9% of Total Investments)

 

 

 

 

 

 

 

 

 

500

 

AMC Networks Inc.

 

7.750%

 

7/15/21

 

BB

 

562,500

 

1,862

 

Clear Channel Communications, Inc.

 

11.000%

 

8/01/16

 

CCC-

 

1,801,195

 

3,585

 

Clear Channel Communications, Inc.

 

9.000%

 

12/15/19

 

CCC+

 

3,638,775

 

1,000

 

Clear Channel Communications, Inc.

 

9.000%

 

3/01/21

 

CCC+

 

1,007,500

 

600

 

Expo Event Transco Inc., 144A

 

9.000%

 

6/15/21

 

B-

 

603,000

 

500

 

McGraw-Hill Global Education Holdings, 144A

 

9.750%

 

4/01/21

 

BB

 

540,000

 

8,047

 

Total Media

 

 

 

 

 

 

 

8,152,970

 

 

 

Oil, Gas & Consumable Fuels – 1.1% (0.8% of Total Investments)

 

 

 

 

 

 

 

2,000

 

Chaparral Energy Inc.

 

9.875%

 

10/01/20

 

B-

 

2,280,000

 

 

 

Pharmaceuticals – 2.4% (1.7% of Total Investments)

 

 

 

 

 

 

 

 

 

1,000

 

Jaguar Holding Company I, 144A

 

9.375%

 

10/15/17

 

CCC+

 

1,060,000

 

2,000

 

Valeant Pharmaceuticals International, 144A

 

7.000%

 

10/01/20

 

B1

 

2,155,000

 

500

 

Valeant Pharmaceuticals International, 144A

 

7.250%

 

7/15/22

 

B1

 

543,750

 

1,000

 

VPII Escrow Corporation, 144A

 

7.500%

 

7/15/21

 

B1

 

1,110,000

 

4,500

 

Total Pharmaceuticals

 

 

 

 

 

 

 

4,868,750

 

 

 

Semiconductors & Equipment – 0.2% (0.1% of Total Investments)

 

 

 

 

 

 

 

250

 

Advanced Micro Devices, Inc.

 

7.750%

 

8/01/20

 

B

 

250,000

 

166

 

Advanced Micro Devices, Inc.

 

7.500%

 

8/15/22

 

B

 

161,020

 

416

 

Total Semiconductors & Equipment

 

 

 

 

 

 

 

411,020

 

 

 

Software – 1.9% (1.3% of Total Investments)

 

 

 

 

 

 

 

 

 

2,550

 

Infor Us Inc.

 

11.500%

 

7/15/18

 

B-

 

2,958,000

 

750

 

Infor Us Inc.

 

9.375%

 

4/01/19

 

B-

 

847,500

 

3,300

 

Total Software

 

 

 

 

 

 

 

3,805,500

 

 

 

Specialty Retail – 0.3% (0.2% of Total Investments)

 

 

 

 

 

 

 

 

 

500

 

99 Cents Only Stores

 

11.000%

 

12/15/19

 

CCC+

 

562,500

 

 

 

Wireless Telecommunication Services – 2.6% (1.8% of Total Investments)

 

 

 

 

 

500

 

FairPoint Communications Inc., 144A

 

8.750%

 

8/15/19

 

B

 

512,500

 

1,250

 

MetroPCS Wireless Inc., 144A

 

6.250%

 

4/01/21

 

BB

 

1,307,813

 

3,000

 

Sprint Corporation, 144A

 

7.875%

 

9/15/23

 

BB-

 

3,255,000

 

75

 

T-Mobile USA Inc.

 

6.731%

 

4/28/22

 

BB

 

79,219

 

75

 

T-Mobile USA Inc.

 

6.836%

 

4/28/23

 

BB

 

79,313

 

4,900

 

Total Wireless Telecommunication Services

 

 

 

 

 

 

 

5,233,845

 

$

37,929

 

Total Corporate Bonds (cost $37,620,860)

 

 

 

 

 

 

 

40,791,373

 

 

 

Total Long-Term Investments ($276,442,350)

 

 

 

 

 

 

 

282,815,308

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal

 

 

 

 

 

 

 

 

 

 

 

Amount (000)

 

Description (1)

 

Coupon

 

Maturity

 

 

 

Value

 

 

 

Short-Term Investments – 0.7% (0.5% of Total Investments)

 

 

 

 

 

 

 

$

1,313

 

Repurchase Agreement with State Street Bank, dated 10/31/13, repurchase price $1,312,554, collateralized by $1,295,000 U.S. Treasury Notes, 2.500%, due 3/31/15, value $1,339,288

 

0.000%

 

11/01/13

 

 

 

$

1,312,554

 

 

 

Total Short-Term Investments (cost $1,312,554)

 

 

 

 

 

 

 

1,312,554

 

 

 

Total Investments (cost $277,754,904) – 141.4%

 

 

 

 

 

 

 

284,127,862

 

 

 

Borrowings - (42.3)% (7), (8)

 

 

 

 

 

 

 

(85,000,000

)

 

 

Other Assets Less Liabilities – 0.9% (9)

 

 

 

 

 

 

 

1,825,335

 

 

 

Net Assets Applicable to Common Shares – 100%

 

 

 

 

 

 

 

$

200,953,197

 

 

Investments in Derivatives as of October 31, 2013

 

Interest Rate Swaps outstanding:

 

 

 

 

 

Fund

 

 

 

 

 

Fixed Rate

 

 

 

Unrealized

 

 

 

Notional

 

Pay/Receive

 

 

 

Fixed Rate

 

Payment

 

Termination

 

Appreciation

 

Counterparty

 

Amount

 

Floating Rate

 

Floating Rate Index

 

(Annualized)

 

Frequency

 

Date

 

(Depreciation) (9)

 

Barclays PLC

 

$

17,500,000

 

Receive

 

1-Month USD-LIBOR

 

1.143%

 

Monthly

 

9/15/16

 

$

(295,091

)

Morgan Stanley

 

17,500,000

 

Receive

 

1-Month USD-LIBOR

 

0.588

 

Monthly

 

9/15/14

 

(61,081

)

Morgan Stanley

 

17,500,000

 

Receive

 

1-Month USD-LIBOR

 

1.659

 

Monthly

 

9/15/18

 

(296,775

)

 

 

$

52,500,000

 

 

 

 

 

 

 

 

 

 

 

$

(652,947

)

 

Credit Default Swaps outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized

 

 

 

 

 

Buy/Sell

 

Current

 

Notional

 

Fixed Rate

 

Termination

 

 

 

Appreciation

 

Counterparty

 

Referenced Entity

 

Protection (10)

 

Credit Spread (11)

 

Amount

 

(Annualized)

 

Date

 

Value

 

(Depreciation) (9)

 

Deutsche Bank

 

Kohl’s Corporation

 

Buy

 

1.30%

 

$

3,000,000

 

1.000%

 

12/20/18

 

$

38,085

 

$               (23,576

)

Deutsche Bank

 

The Kroger Co.

 

Buy

 

0.60

 

2,000,000

 

1.000

 

12/20/18

 

(40,435

)

(11,672

)

 

 

 

 

 

 

 

 

$

5,000,000

 

 

 

 

 

 

 

$               (35,248

)

 

 

 

Fair Value Measurements

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable Rate Senior Loan Interests

 

$

 

$

242,023,935

 

$

 

$

242,023,935

 

 

Corporate Bonds

 

 

 

 

40,791,373

 

 

 

 

40,791,373

 

 

Short-Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase Agreements

 

 

 

 

1,312,554

 

 

 

 

1,312,554

 

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps*

 

 

 

 

(652,947

)

 

 

 

(652,947

)

 

Credit Default Swaps*

 

 

 

 

(35,248

)

 

 

 

(35,248

)

 

Total

 

$

 

$

283,439,667

 

$

 

$

283,439,667

 

 

* Represents net unrealized appreciation (depreciation).

 

 

 

Income Tax Information

 

 

 

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing certain gains and losses on investment transactions and recognition of premium amortization. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

 

 

 

As of October 31, 2013, the cost of investments (excluding investments in derivatives) was $277,957,044.

 

 

 

Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of October 31, 2013, were as follows:

 

 

 

 

 

Gross unrealized:

 

 

 

Appreciation

$     7,574,340

 

 

Depreciation

(1,403,522

)

 

 

 

 

 

Net unrealized appreciation (depreciation) of investments

$     6,170,818

 

 

 

 

 

 

 

 

 

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)

 

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.

 

(3)

 

Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

 

(4)

 

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

 

(5)

 

At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.

 

(6)

 

Investment, or portion of investment, represents an unfunded senior loan commitment outstanding. As of October 31, 2013, the Fund had unfunded senior loan commitments outstanding of $1,000,000.

 

(7)

 

Borrowings as a percentage of Total Investments is 29.9%.

 

(8)

 

The Fund segregates 100% of its eligible investments in the Portfolio of Investments as collateral for Borrowings.

 

(9)

 

Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments as listed within Investments in Derivatives as of the end of the reporting period.

 

(10)

 

The Fund entered into the credit default swap to gain investment exposure to the referenced entity. Selling protection has a similar credit risk position to owning that referenced entity. Buying protection has a similar credit risk position to selling the referenced entity short.

 

(11)

 

The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of a higher likelihood of performance by the seller of protection.

 

DD1

 

Portion of investment purchased on a delayed delivery basis.

 

WI/DD

 

Purchased on a when-issued or delayed delivery basis.

 

144A

 

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

 

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.

 

USD-LIBOR

 

United States Dollar—London Inter-Bank Offered Rate.

 


 


 

Item 2. 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 Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (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 registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

File as exhibits as part of this Form 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)), exactly as set forth below: EX-99 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 Short Duration Credit Opportunities Fund

 

 

 

 

 

 

 

By (Signature and Title)

/s/ Kevin J. McCarthy

 

 

Kevin J. McCarthy

 

 

Vice President and Secretary

 

 

 

Date: December 30, 2013

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

 

 

By (Signature and Title)

/s/ Gifford R. Zimmerman

 

 

Gifford R. Zimmerman

 

 

Chief Administrative Officer (principal executive officer)

 

 

 

Date: December 30, 2013

 

 

By (Signature and Title)

/s/ Stephen D. Foy

 

 

Stephen D. Foy

 

 

Vice President and Controller (principal financial officer)

 

 

 

Date: December 30, 2013