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 811-21494

Nuveen Floating Rate Income 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:    10/31/2008   

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

Nuveen Floating Rate Income Fund (JFR)
October 31, 2008

						Weighted
Principal						Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 151.1% (93.3% of Total Investments) (4)
				Aerospace & Defense – 2.2% (1.4% of Total Investments)
$	4,967			Midwestern Aircraft, Term Loan B		6.500%		12/30/11		BBB-		$	4,233,942
	2,300			Transdigm, Inc., Term Loan B		5.210%		6/23/13		BB-			1,762,375
	2,368			Vought Aircraft Industries, Inc., Term Loan		5.620%		12/22/11		Ba3			1,882,492
	545			Vought Aircraft Industries, Inc., Tranche B, Letter of Credit		6.426%		12/22/10		Ba3			409,091
	10,180			Total Aerospace & Defense									8,287,900
				Airlines – 3.2% (2.0% of Total Investments)
	2,504			ACTS Aero Technical Support & Services, Inc., Term Loan		7.885%		10/16/14		N/R			1,214,268
	1,980			Delta Air Lines, Inc., Credit Linked Deposit		4.891%		4/30/12		Ba2			1,401,840
	1,985			Delta Air Lines, Inc., Term Loan		6.250%		4/30/14		B			1,141,332
	5,887			Northwest Airlines, Inc., DIP Term Loan		5.000%		8/21/13		BB-			4,790,149
	6,153			United Air Lines, Inc., Term Loan B		5.653%		2/01/14		B+			3,537,879
	18,509			Total Airlines									12,085,468
				Auto Components – 2.0% (1.2% of Total Investments)
	5,645			Federal-Mogul Corporation, Tranche B, Term Loan		5.274%		12/29/14		Ba2			3,436,650
	3,324			Federal-Mogul Corporation, Tranche C, Term Loan		6.060%		12/28/15		Ba2			2,023,768
	3,000			Goodyear Tire & Rubber Company, Term Loan		4.780%		4/30/14		Ba1			2,135,000
	11,969			Total Auto Components									7,595,418
				Building Products – 6.4% (4.0% of Total Investments)
	1,574			Atrium Companies, Inc., Term Loan		8.724%		5/31/12		B			944,397
	7,844			Building Materials Corporation of America, Term Loan		6.625%		2/22/14		B+			5,474,886
	5,000			Building Materials Corporation of America, Term Loan, Second Lien		9.000%		9/15/14		Caa2			2,610,000
	8,157			Stile Acquisition Corporation, Canadian Term Loan		5.500%		4/05/13		Caa2			5,636,296
	8,237			Stile Acquisition Corporation, Term Loan B		5.000%		4/05/13		Caa2			5,691,109
	3,920			TFS Acquisition, Term Loan		7.262%		8/11/13		B+			3,645,600
	34,732			Total Building Products									24,002,288
				Capital Markets – 1.5% (1.0% of Total Investments)
	2,394			Ameritrade Holdings Corporation, Term Loan B		4.500%		12/31/12		Ba1			2,002,173
	961			BNY Convergex Group LLC, Incremental Delayed Draw Term Loan, (5) (6)		1.500%		10/02/13		B2			(268,987	)
	4,643			BNY Convergex Group LLC, Term Loan		6.770%		10/02/13		B2			3,540,179
	685			BNY Convergex Group LLC, Incremental Term Loan		6.770%		10/02/13		B2			522,324
	8,683			Total Capital Markets									5,795,689
				Chemicals – 8.4% (5.2% of Total Investments)
	181			Celanese US Holdings LLC, Credit Linked Deposit		3.926%		4/02/14		BB+			146,775
	711			Celanese US Holdings LLC, Term Loan		5.553%		4/02/14		BB+			578,293
	1,536			Foamex LP, Term Loan B		8.041%		2/12/13		CCC+			710,618
	8,387			Hercules, Inc., Term Loan		4.500%		10/08/10		BBB			8,334,200
	4,818			Hexion Specialty Chemicals, Inc., Term Loan C-1		6.188%		5/05/13		Ba3			3,352,751
	1,047			Hexion Specialty Chemicals, Inc., Term Loan C-2		6.063%		5/05/13		Ba3			728,313
	3,653			Huntsman International LLC, Term Loan		4.969%		4/19/14		BB+			3,176,918
	3,766			Ineos US Finance LLC, Tranche B2		5.950%		12/16/13		BB-			2,096,685
	3,766			Ineos US Finance LLC, Tranche C2		6.450%		12/16/14		BB-			2,062,158
	445			JohnsonDiversey, Inc., Term Loan		4.791%		12/16/11		Ba2			354,041
	1,448			Lucite International, Term Loan B-1		5.370%		7/07/13		BB-			1,313,693
	513			Lucite International, Term Loan B-2		5.370%		7/07/13		BB-			408,368
	5,475			Rockwood Specialties Group, Inc., Term Loan E		4.618%		7/30/12		BB+			4,585,313
	993			Solutia, Inc., Term Loan		9.045%		2/28/14		B+			822,948
	3,970			Univar, Inc., Term Loan		6.762%		10/10/14		B+			2,783,962
	40,709			Total Chemicals									31,455,036
				Commercial Services & Supplies – 1.5% (0.9% of Total Investments)
	—	(7)		Allied Waste North America, Inc., Letter of Credit		TBD		TBD		BBB			25
	975			NCO Financial Systems, Inc., Term Loan		7.415%		5/15/13		BB-			840,723
	4,367			Rental Services Corporation, Term Loan		7.699%		11/27/13		B-			2,696,453
	1,184			Workflow Holdings Corporation, Term Loan		8.420%		11/30/11		B+			813,905
	1,769			Xerium Technologies, Inc., Term Loan B		9.262%		5/21/12		CCC+			1,308,729
	8,295			Total Commercial Services & Supplies									5,659,835
				Communications Equipment – 1.0% (0.6% of Total Investments)
	2,340			Aspect Software, Inc., Term Loan B		6.250%		7/11/11		BB-			1,895,400
	2,000			Brocade Communications, Term Loan		7.000%		10/08/15		BB+			1,857,500
	4,340			Total Communications Equipment									3,752,900
				Consumer Finance – 0.5% (0.3% of Total Investments)
	2,850			Peach Holdings, Inc., Term Loan		7.712%		11/30/13		B			2,005,688
				Containers & Packaging – 3.8% (2.4% of Total Investments)
	493			Amscan Holdings, Inc., Term Loan		5.407%		5/25/13		B1			369,375
	13,807			Graham Packaging Company, L.P., Term Loan		5.744%		10/07/11		B+			11,307,656
	699			Smurfit-Stone Container Corporation, Deposit-Funded Commitment		5.926%		11/01/10		BB			555,419
	783			Smurfit-Stone Container Corporation, Term Loan B		4.897%		11/01/11		BB			622,693
	1,480			Smurfit-Stone Container Corporation, Term Loan C		4.883%		11/01/11		BB			1,176,731
	465			Smurfit-Stone Container Corporation, Tranche C-1		5.125%		11/01/11		BB			369,329
	17,727			Total Containers & Packaging									14,401,203
				Diversified Consumer Services – 3.8% (2.4% of Total Investments)
	11,885			Cengage Learning Acquisitions, Inc., Term Loan		5.620%		7/05/14		B+			8,920,339
	8,480			West Corporation, Term Loan		5.512%		10/24/13		BB-			5,490,575
	20,365			Total Diversified Consumer Services									14,410,914
				Diversified Financial Services – 0.4% (0.3% of Total Investments)
	2,000			Fox Acquisition Sub LLC, Term Loan B		7.250%		7/14/15		BB-			1,580,000
				Diversified Telecommunication Services – 9.4% (5.8% of Total Investments)
	898			Choice One Communications, Term Loan B		6.886%		6/30/12		B2			538,929
	5,910			Crown Castle Operating Company, Term Loan		5.376%		1/26/14		BB+			4,527,060
	3,871			Intelsat, Tranche B, Term Loan		6.650%		7/01/13		BB-			3,208,091
	6,213			Intelsat, Tranche B, Term Loan A		6.650%		1/03/14		BB-			5,156,670
	6,211			Intelsat, Tranche B, Term Loan B		6.650%		1/03/14		BB-			5,155,112
	6,211			Intelsat, Tranche B, Term Loan C		6.650%		1/03/14		BB-			5,155,112
	6,800			Level 3 Financing, Inc., Term Loan		7.000%		3/13/14		B+			5,083,000
	7,860			MetroPCS Wireless, Inc., Term Loan		5.176%		11/03/13		BB-			6,525,680
	43,974			Total Diversified Telecommunication Services									35,349,654
				Electric Utilities – 6.2% (3.8% of Total Investments)
	1,611			Calpine Corporation, DIP Revolver, (5)		4.397%		3/31/14		B+			1,100,000
	16,845			Calpine Corporation, DIP Term Loan		6.645%		3/31/14		B+			13,554,094
	6,932			TXU Corporation, Term Loan B-2		6.659%		10/10/14		Ba3			5,438,117
	3,960			TXU Corporation, Term Loan B-3		6.437%		10/10/14		Ba3			3,091,770
	29,348			Total Electric Utilities									23,183,981
				Electrical Equipment – 0.9% (0.6% of Total Investments)
	4,882			Allison Transmission Holdings, Inc., Term Loan		5.669%		8/07/14		BB-			3,352,586
				Electronic Equipment & Instruments – 0.2% (0.1% of Total Investments)
	978			Sensata Technologies B.V., Term Loan		5.257%		4/27/13		BB			631,465
				Energy Equipment & Services – 0.2% (0.1% of Total Investments)
	953			PGS Finance, Inc., Term Loan		5.510%		6/29/15		Ba2			717,383
				Food & Staples Retailing – 0.8% (0.5% of Total Investments)
	3,554			Supervalu, Term Loan B		3.266%		6/02/12		BB+			2,998,096
				Food Products – 0.9% (0.6% of Total Investments)
	465			Dole Food Company, Inc., Deposit-Funded Commitment		6.689%		4/12/13		Ba3			340,892
	824			Dole Food Company, Inc., Term Loan B		5.277%		4/12/13		Ba3			604,201
	3,401			Dole Food Company, Inc., Term Loan C		5.926%		4/12/13		Ba3			2,492,770
	4,690			Total Food Products									3,437,863
				Health Care Providers & Services – 8.9% (5.5% of Total Investments)
	33			Community Health Systems, Inc., Delayed Draw Term Loan, (5) (6)		1.000%		7/25/14		BB			(6,429	)
	638			Community Health Systems, Inc., Term Loan		5.009%		7/25/14		BB			512,757
	142			HCA, Inc., Term Loan		6.012%		11/18/13		BB			117,229
	9,406			Health Management Associates, Inc., Term Loan		5.512%		2/28/14		BB-			6,631,486
	1,533			HealthSouth Corporation, Term Loan		5.500%		3/10/13		BB-			1,273,864
	3,238			IASIS Healthcare LLC, Delayed Term Loan		5.118%		3/14/14		Ba2			2,623,083
	866			IASIS Healthcare LLC, Letter of Credit		2.481%		3/14/14		Ba2			701,242
	9,359			IASIS Healthcare LLC, Term Loan		5.118%		3/14/14		Ba2			7,580,687
	1,288			Invacare Corporation, Term Loan B		5.602%		2/12/13		Ba2			1,101,240
	3,880			LifeCare, Term Loan B		7.670%		8/11/12		B2			2,735,400
	519			LifePoint Hospitals, Inc., Term Loan		4.435%		4/18/12		Ba1			437,539
	2,895			Select Medical Corporation, Term Loan		4.911%		2/24/12		Ba2			2,229,150
	8,550			Vanguard Health Holding Company II LLC, Replacement Term Loan		5.743%		9/23/11		Ba3			7,299,405
	42,347			Total Health Care Providers & Services									33,236,653
				Health Care Technology – 0.4% (0.2% of Total Investments)
	1,886			Emdeon Business Services LLC, Term Loan		5.762%		11/18/13		BB-			1,423,575
				Hotels, Restaurants & Leisure – 10.3% (6.4% of Total Investments)
	9,209			24 Hour Fitness Worldwide, Inc., Term Loan B		6.179%		6/08/12		Ba3			6,860,512
	1,117			Ameristar Casinos, Inc., Term Loan B		5.769%		11/10/12		BB+			642,168
	57			Buffets, Inc., DIP Rollover Letter of Credit, WI/DD		TBD		TBD		N/R			16,741
	570			Buffets, Inc., Rollover DIP Term Loan, WI/DD		TBD		TBD		N/R			168,221
	176			Buffets, Inc., Letter of Credit, WI/DD		TBD		TBD		N/R			51,963
	1,184			Buffets, Inc., Term Loan, WI/DD		TBD		TBD		N/R			349,353
	765			CBRL Group, Inc., Term Loan B-1		4.300%		4/28/13		BB-			587,703
	92			CBRL Group, Inc., Term Loan B-2		4.300%		4/28/13		BB-			70,680
	4,888			Cedar Fair LP, Term Loan		5.118%		8/30/12		BB			3,592,313
	667			Fontainebleau Las Vegas LLC, Delayed Term Loan, (5) (6)		2.000%		6/06/14		B1			(350,000	)
	1,333			Fontainebleau Las Vegas LLC, Term Loan		6.065%		6/06/14		B1			633,333
	949			Green Valley Ranch Gaming LLC, Term Loan B		5.000%		2/16/14		BB-			474,318
	1,703			Isle of Capri Casinos, Inc., Delayed Term Loan		5.512%		11/25/13		BB			1,154,872
	599			Isle of Capri Casinos, Inc., Delayed Term Loan A		5.512%		11/25/13		BB			406,252
	681			Isle of Capri Casinos, Inc., Delayed Term Loan B		5.512%		11/25/13		BB			461,949
	3,960			Orbitz Worldwide, Inc., Term Loan		6.391%		7/25/14		BB-			2,544,300
	695			Penn National Gaming, Inc., Term Loan B		5.009%		10/03/12		BB+			581,213
	1,975			Travelport LLC, Delayed Term Loan		5.368%		8/23/13		BB-			1,204,750
	981			Travelport LLC, Letter of Credit		6.012%		8/23/13		BB-			609,896
	4,891			Travelport LLC, Term Loan		6.012%		8/23/13		BB-			3,039,592
	2,255			Universal City Development Partners, Ltd., Term Loan		6.681%		6/09/11		Ba1			1,938,909
	3,326			Venetian Casino Resort LLC, Delayed Term Loan		5.520%		5/23/14		BB-			1,913,507
	13,503			Venetian Casino Resort LLC, Term Loan		5.520%		5/23/14		BB-			7,767,439
	4,073			Wintergames Holdings, Term Loan		6.250%		10/23/08		N/R			3,868,969
	59,649			Total Hotels, Restaurants & Leisure									38,588,953
				Household Durables – 0.3% (0.2% of Total Investments)
	1,590			Rent-A-Center Inc., Term Loan B		4.809%		6/30/12		BB+			1,288,098
				Household Products – 1.8% (1.1% of Total Investments)
	6,559			Prestige Brands, Inc., Term Loan B		5.822%		4/06/11		BB-			5,280,068
	1,737			Solo Cup Company, Term Loan		6.653%		2/27/11		B			1,509,990
	8,296			Total Household Products									6,790,058
				Independent Power Producers & Energy Traders – 2.1% (1.3% of Total Investments)
	822			Covanta Energy Corporation, Synthetic Letter of Credit		5.453%		2/09/14		BB			685,209
	1,653			Covanta Energy Corporation, Term Loan B		4.632%		2/09/14		BB			1,377,163
	2,268			NRG Energy, Inc., Credit Linked Deposit		2.701%		2/01/13		Ba1			1,974,965
	4,616			NRG Energy, Inc., Term Loan		5.262%		2/01/13		Ba1			4,019,967
	9,359			Total Independent Power Producers & Energy Traders									8,057,304
				Insurance – 2.9% (1.8% of Total Investments)
	16,480			Conseco, Inc., Term Loan		5.000%		10/10/13		B+			10,918,027
				Internet Software & Services – 0.5% (0.3% of Total Investments)
	3,000			Sabre, Inc., Term Loan		5.251%		9/30/14		B+			1,738,334
				IT Services – 6.3% (3.9% of Total Investments)
	6,930			First Data Corporation, Term Loan B-2		6.019%		9/24/14		BB-			5,130,674
	1,985			First Data Corporation, Term Loan B-3		5.983%		9/24/14		BB-			1,463,910
	1,344			Infor Global Solutions Intermediate Holdings, Ltd., Delayed Term Loan		7.520%		7/28/12		B+			850,080
	2,576			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan		7.520%		7/28/12		B+			1,629,320
	1,000			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan B-1, WI/DD		TBD		TBD		Caa2			362,500
	18,288			SunGard Data Systems, Inc., Term Loan B		4.553%		2/28/14		BB			14,094,772
	32,123			Total IT Services									23,531,256
				Leisure Equipment & Products – 2.5% (1.5% of Total Investments)
	10,025			Bombardier Recreational Products, Inc., Term Loan		6.347%		6/28/13		B+			6,942,532
	5,000			Wimar OpCo LLC, Term Loan, (8)		7.250%		1/03/12		N/R			2,320,833
	15,025			Total Leisure Equipment & Products									9,263,365
				Machinery – 1.0% (0.6% of Total Investments)
	5,000			Manitowoc Company, Delayed Term Loan, (5) (6)		0.750%		8/30/14		BB+			(1,047,500	)
	933			Navistar International Corporation, Synthetic Letter of Credit		6.242%		1/19/12		N/R			653,333
	2,567			Navistar International Corporation, Term Loan		6.421%		1/19/12		N/R			1,796,667
	3,560			Oshkosh Truck Corporation, Term Loan		4.503%		12/06/13		BB+			2,483,100
	12,060			Total Machinery									3,885,600
				Media – 28.1% (17.3% of Total Investments)
	1,954			American Media Operations, Inc., Term Loan		7.560%		1/13/13		B			1,313,978
	8,887			Cequel Communications LLC, Term Loan B, 144A		6.207%		11/05/13		BB-			6,590,200
	3,000			Charter Communications Operating Holdings LLC, Holdco Term Loan		6.262%		3/06/14		B+			1,960,001
	5,902			Charter Communications Operating Holdings LLC, Term Loan		5.313%		3/06/14		B+			4,444,173
	1,774			Gray Television, Inc., Term Loan B		5.044%		12/31/14		B			1,011,144
	7,860			Idearc, Inc., Term Loan		5.742%		11/17/14		BB			3,392,903
	15,593			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		7.012%		4/08/12		N/R			7,884,270
	17,655			Neilsen Finance LLC, Term Loan		4.803%		8/09/13		Ba3			12,870,453
	717			NextMedia Operating, Inc., Delayed Term Loan		8.278%		11/15/12		B1			491,150
	1,616			NextMedia Operating, Inc., Term Loan, First Lien		7.259%		11/15/12		B1			1,107,084
	4,721			Philadelphia Newspapers, Term Loan		8.500%		6/29/13		N/R			1,416,153
	4,767			ProQuest Company, Term Loan B		5.716%		2/09/14		BB-			4,147,000
	985			Readers Digest Association, Inc., Term Loan		5.234%		3/02/14		B1			502,350
	10,149			Regal Cinemas Corporation, Term Loan		5.262%		10/27/13		Ba2			7,673,806
	3,809			SFX Entertainment, Inc., Term Loan		7.020%		6/20/13		Ba3			3,066,101
	965			Spanish Broadcasting System, Inc., Term Loan B		5.520%		6/10/12		B-			447,519
	26,682			Tribune Company, Term Loan B, DD1		6.000%		6/04/14		B			11,980,420
	2,048			Tribune Company, Term Loan X		7.084%		6/04/09		B			1,611,776
	25,000			Univision Communications, Inc., Term Loan		5.250%		9/29/14		B1			13,587,500
	3,853			Univision Communications, Inc., Term Loan, Second Lien		5.500%		3/29/09		Caa1			3,380,569
	3,000			UPC Broadband Holding BV, Term Loan N		5.470%		12/31/14		Ba3			2,152,500
	748			Valassis Communications, Inc., Delayed Term Loan		5.520%		3/02/14		BB			525,791
	2,255			Valassis Communications, Inc., Tranche B, Term Loan		5.520%		3/02/14		BB			1,585,721
	10,060			WMG Acquisition Corporation, Term Loan		5.064%		2/28/11		BB			8,148,648
	6,025			Yell Group PLC, Term Loan		6.118%		10/27/12		N/R			4,157,250
	170,025			Total Media									105,448,460
				Metals & Mining – 2.5% (1.5% of Total Investments)
	2,729			Amsted Industries, Inc., Delayed Term Loan		5.179%		4/08/13		BB			2,155,983
	3,759			Amsted Industries, Inc., Term Loan		6.560%		4/08/13		BB			2,894,053
	988			Edgen Murray II LP, Term Loan		5.630%		5/11/14		B			831,969
	4,757			John Maneely Company, Term Loan		7.662%		12/08/13		B+			3,508,347
	12,233			Total Metals & Mining									9,390,352
				Oil, Gas & Consumable Fuels – 2.6% (1.6% of Total Investments)
	1,970			Brand Energy & Infrastructure Services, Inc., Term Loan B		6.002%		2/07/14		B1			1,497,200
	2,985			CCS Income Trust, Term Loan		6.118%		11/14/14		BB-			2,261,109
	301			Coffeyville Resources LLC, Credit Linked Deposit		6.633%		12/28/10		BB-			242,482
	971			Coffeyville Resources LLC, Term Loan D		6.632%		12/28/13		BB-			782,940
	2,288			Quicksilver Resource, Inc., Term Loan		7.735%		8/08/13		B1			1,881,469
	3,829			Western Refining, Inc., Term Loan		9.171%		5/30/14		BB-			2,890,803
	12,344			Total Oil, Gas & Consumable Fuels									9,556,003
				Paper & Forest Products – 0.6% (0.4% of Total Investments)
	1,703			Georgia-Pacific Corporation, Term Loan B		4.654%		12/21/12		BB+			1,418,561
	1,980			Wilton Products, Term Loan		6.089%		11/16/14		Ba3			999,900
	3,683			Total Paper & Forest Products									2,418,461
				Pharmaceuticals – 1.2% (0.7% of Total Investments)
	1,631			Stiefel Laboratories, Inc., Delayed Term Loan		7.000%		12/28/13		BB-			1,329,235
	2,132			Stiefel Laboratories, Inc., Term Loan		7.000%		12/28/13		BB-			1,737,852
	1,156			Warner Chilcott Corporation, Tranche B, Term Loan		5.762%		1/18/12		BB-			955,847
	434			Warner Chilcott Corporation, Tranche C, Term Loan		5.762%		1/18/12		BB-			358,643
	5,353			Total Pharmaceuticals									4,381,577
				Real Estate Management & Development – 4.3% (2.7% of Total Investments)
	7,303			Capital Automotive LP, Term Loan		5.470%		12/15/10		BB+			4,651,775
	14,080			LNR Property Corporation, Term Loan B		6.040%		7/12/11		BB			7,708,800
	5,925			Realogy Corporation, Delayed Term Loan		6.829%		10/10/13		B+			3,811,845
	27,308			Total Real Estate Management & Development									16,172,420
				Road & Rail – 5.3% (3.2% of Total Investments)
	667			Hertz Corporation, Letter of Credit		5.454%		12/21/12		BB+			483,809
	3,668			Hertz Corporation, Term Loan		4.586%		12/21/12		BB+			2,662,273
	28,512			Swift Transportation Company, Inc., Term Loan, DD1		6.063%		5/10/14		B+			16,536,742
	32,847			Total Road & Rail									19,682,824
				Semiconductors & Equipment – 0.5% (0.3% of Total Investments)
	2,948			Freescale Semiconductor, Inc., Term Loan		5.470%		11/29/13		Ba1			2,016,582
				Software – 2.8% (1.7% of Total Investments)
	7,573			Dealer Computer Services, Inc., Term Loan		5.171%		10/26/12		BB			4,922,725
	6,000			Dealer Computer Services, Inc., Term Loan, Second Lien		8.671%		10/26/13		B			3,570,000
	1,975			IPC Systems, Inc., Term Loan		6.012%		5/31/14		B+			1,022,063
	2,000			IPC Systems, Inc., Term Loan, Second Lien		9.012%		5/31/15		CCC+			840,000
	17,548			Total Software									10,354,788
				Specialty Retail – 8.6% (5.3% of Total Investments)
	6,005			Blockbuster, Inc., Tranche B, Term Loan		6.771%		8/20/11		B1			4,669,173
	4,970			Burlington Coat Factory Warehouse Corporation, Term Loan, DD1		5.060%		5/28/13		B2			2,745,807
	702			J Crew Operating Corporation, Term Loan		5.188%		5/15/13		BB			589,474
	12,506			Michaels Stores, Inc., Term Loan		5.348%		10/31/13		B			7,381,656
	5,880			Sally Holdings LLC, Term Loan		5.196%		11/16/13		BB-			4,613,701
	5,985			Toys “R” Us – Delaware, Inc., Term Loan B		7.059%		7/19/12		BB-			4,376,586
	11,000			TRU 2005 RE Holding Co I LLC, Term Loan		6.720%		12/08/09		B3			8,039,169
	47,048			Total Specialty Retail									32,415,566
				Textiles, Apparel & Luxury Goods – 1.1% (0.6% of Total Investments)
	2,789			HBI Branded Apparel Limited, Inc., Term Loan		5.173%		9/05/13		BB+			2,383,676
	2,000			HBI Branded Apparel Limited, Inc., Term Loan, Second Lien		7.266%		3/05/14		BB-			1,566,667
	4,789			Total Textiles, Apparel & Luxury Goods									3,950,343
				Trading Companies & Distributors – 0.8% (0.5% of Total Investments)
	1,824			Ashtead Group Public Limited Company, Term Loan		4.563%		8/31/11		Ba2			1,568,640
	393			Brenntag Holdings GmbH & Co. KG, Acquisition Facility		5.071%		1/20/14		B+			272,945
	1,607			Brenntag Holdings GmbH & Co. KG, Facility B2		5.071%		1/20/14		B+			1,117,055
	3,824			Total Trading Companies & Distributors									2,958,640
				Wireless Telecommunication Services – 2.4% (1.5% of Total Investments)
	12,000			Asurion Corporation, Term Loan		6.060%		7/03/14		N/R			8,979,996
$	822,503			Total Variable Rate Senior Loan Interests (cost $800,264,934)									567,150,602

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Corporate Bonds – 8.8% (5.4% of Total Investments)
				Diversified Telecommunication Services – 1.0% (0.6% of Total Investments)
$	5,000			Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR		6.276%		6/15/13		BB+		$	3,650,000
				Energy Equipment & Services – 1.3% (0.8% of Total Investments)
	5,000			Williams Companies Inc., Floating Rate Note, 2.000% plus three-month LIBOR, 144A		5.026%		10/01/10		BBB-			4,919,455
				Food Products – 0.7% (0.4% of Total Investments)
	1,528			Dole Foods Company		8.625%		5/01/09		B-			1,382,840
	1,780			Dole Foods Company		8.875%		3/15/11		B-			1,237,100
	3,308			Total Food Products									2,619,940
				Health Care Providers & Services – 0.3% (0.2% of Total Investments)
	2,000			Select Medical Corporation, Floating Rate Note, 5.750% plus six-month LIBOR		8.871%		9/15/15		CCC+			1,240,000
				Hotels, Restaurants & Leisure – 1.6% (1.0% of Total Investments)
	7,900			Mohegan Tribal Gaming Authority		8.000%		4/01/12		B			5,846,000
				Paper & Forest Products – 0.7% (0.4% of Total Investments)
	500			Verso Paper Holdings LLC, Series B		9.125%		8/01/14		B			267,500
	4,000			Verso Paper Holdings LLC, Floating Rate Note, 3.750% plus three-month LIBOR		6.776%		8/01/14		B			2,340,000
	4,500			Total Paper & Forest Products									2,607,500
				Real Estate Investment Trust – 0.7% (0.5% of Total Investments)
	4,000			Felcor Lodging LP, Floating Rate Note, 1.875% plus six-month LIBOR		4.996%		12/01/11		BB-			2,670,000
				Semiconductors & Equipment – 2.3% (1.4% of Total Investments)
	1,400			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR		8.526%		6/01/13		B+			1,198,750
	16,000			NXP BV, Floating Rate Note, 2.750% plus three-month LIBOR		5.776%		10/15/13		B-			7,100,000
	1,000			Spansion LLC, Floating Rate Note, 3.125% plus three-month LIBOR, 144A		6.151%		6/01/13		B			220,000
	18,400			Total Semiconductors & Equipment									8,518,750
				Textiles, Apparel & Luxury Goods – 0.2% (0.1% of Total Investments)
	1,000			HanesBrands Inc., Floating Rate Note, 3.375% plus six-month LIBOR		6.496%		12/15/14		B			683,750
$	51,108			Total Corporate Bonds (cost $51,318,796)									32,755,395

Shares				Description (1)								Value
				Investment Companies – 2.1% (1.3% of Total Investments)
	353,668			Eaton Vance Floating-Rate Income Trust Fund								$	3,402,286
	963,820			Eaton Vance Senior Income Trust									4,568,507
				Total Investment Companies (cost $11,947,776)									7,970,793
				Total Investments (cost $863,531,506) – 162.0%									607,876,790
				Borrowings – (25.4)% (9)									(95,300,000	)
				Other Assets Less Liabilities – 7.4%									27,623,502
				Preferred Shares, at Liquidation Value – (44.0)% (9)									(165,000,000	)
				Net Assets Applicable to Common Shares – 100%								$	375,200,292

(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 higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be below investment grade.
(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)		Position or portion of position represents an unfunded Senior Loan commitment outstanding at October 31, 2008. At October 31, 2008, the Fund had unfunded Senior Loan Commitments of $7,271,224.
(6)		Negative value represents unrealized depreciation on unfunded Senior Loan commitment outstanding at October 31, 2008.
(7)		Principal Amount rounds to less than $1,000.
(8)		At or subsequent to October 31, 2008, this issue was under the protection of the Federal Bankruptcy Court.
(9)		Borrowings and Preferred Shares, at Liquidation Value as a percentage of Total Investments are 15.7% and 27.1%, respectively.
N/R		Not rated.
DD1		Investment or 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 weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the Borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.

Fair Value Measurements

During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157 (SFAS No. 157) “Fair Value Measurements.” SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Fund’s investments various inputs are used. These inputs are summarized in the three broad levels listed below:

Level 1 -

Quoted prices in active markets for identical securities.

Level 2 -

Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 -

Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following is a summary of the Fund’s fair value measurements as of October 31, 2008:

			Level 1				Level 2				Level 3				Total
Investments		$	7,970,793			$	599,905,997			$	-			$	607,876,790

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.

At October 31, 2008, the cost of investments was $864,153,051.

Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2008, were as follows:

Gross unrealized:
Appreciation		$	—
Depreciation			(256,276,261	)
Net unrealized appreciation (depreciation) of investments		$	(256,276,261	)

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 Floating Rate Income Fund

Date December 30, 2008

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.

Date December 30, 2008

Date December 30, 2008