Company: JPC
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230231
Chunk: 42

Company: Nuveen Preferred & Income Opportunities Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 42
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     | $ |  45,328,625 |     | $ |   391,702,139 |     | $ | 3,531,816 |     | $ |   440,562,580 |

87

Notes to Financial Statements (continued)

| NPFD                                   
 Long-Term Investments:                 |     |   |    Level 1 |     |   |     Level 2 |     |   |   Level 3 |     |   |       Total |
|:---------------------------------------|:----|:--|-----------:|:----|:--|------------:|:----|:--|----------:|:----|:--|------------:|
| Corporate Bonds                        |     | $ |          – |     | $ | 664,442,596 |     | $ | 2,425,083 |     | $ | 666,867,679 |
| Preferred Stock                        |     |   | 66,227,992 |     |   |           – |     |   |         – |     |   |  66,227,992 |
| U.S. Government and Agency Obligations |     |   |          – |     |   |  16,946,293 |     |   |         – |     |   |  16,946,293 |
| Short-Term Investments:                |     |   |            |     |   |             |     |   |           |     |   |             |
| Repurchase Agreements                  |     |   |          – |     |   |   4,388,279 |     |   |         – |     |   |   4,388,279 |
| Total                                  |     | $ | 66,227,992 |     | $ | 685,777,168 |     | $ | 2,425,083 |     | $ | 754,430,243 |

| * | Represents net unrealized appreciation (depreciation). |

The Funds hold liabilities in preferred shares, where applicable, which are not reflected in the tables above. The fair values of the Funds’ liabilities for preferred shares approximate their liquidation preference. Preferred shares are generally classified as Level 2 and further described in these Notes to Financial Statements. The following is a reconciliation of the Funds’ Level 3 investments held at the beginning and end of the measurement period:

|                                                                                                                    |     | JFR     |             |     |