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:    10/31/2007   

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, 2007

Principal						Weighted Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 145.6% (88.2% of Total Investments) (4)
				Aerospace & Defense – 1.6% (1.0% of Total Investments)
$	5,017			Midwestern Aircraft (Spirit Aerosystems Inc.), Term Loan B		6.901%		12/30/11		BBB-		$	4,979,550
	2,300			Transdigm Inc. – Term Loan B		7.200%		6/23/13		BB-			2,267,657
	2,391			Vought Aircraft Industries, Inc., Term Loan		7.340%		12/22/11		Ba2			2,370,095
	545			Vought Aircraft Industries, Inc., Tranche B, Letter of Credit		7.624%		12/22/10		Ba2			540,568
	10,253			Total Aerospace & Defense									10,157,870
				Airlines – 3.0% (1.8% of Total Investments)
	3,000			Air Canada Term Loan		8.474%		10/01/14		N/R			2,926,875
	7,920			Northwest Airlines Inc., Term Loan		7.030%		8/01/13		BB			7,639,497
	8,657			United Air Lines Inc., Term Loan B		7.001%		2/01/14		BB-			8,315,049
	19,577			Total Airlines									18,881,421
				Auto Components – 4.0% (2.4% of Total Investments)
	3,000			Delphi Automotive Systems Corporation, DIP Term Loan (2nd)		7.875%		12/31/07		N/R			2,995,938
	17,662			Federal-Mogul Corporation, Term Loan A, (5)		6.003%		2/24/04		N/R			17,415,465
	2,000			Federal-Mogul Corporation, Term Loan B, (5)		7.253%		2/24/05		N/R			1,971,250
	3,000			Goodyear Tire & Rubber Company, Second Lien Term Loan		6.430%		4/30/14		Ba1			2,921,876
	25,662			Total Auto Components									25,304,529
				Building Products – 7.3% (4.4% of Total Investments)
	1,759			Atrium Companies Inc., Term Loan		8.529%		5/31/12		BB-			1,632,034
	5,000			Building Materials Corporation of America, Second Lien Term Loan		10.813%		9/15/14		Caa1			4,207,500
	8,933			Building Materials Corporation of America, Term Loan		7.937%		2/22/14		BB			8,157,443
	14,550			Nortek, Inc., Term Loan B		7.055%		8/27/11		Ba2			14,259,000
	7,306			Stile Acquisition Corporation, Canadian Term Loan		7.115%		4/05/13		BB			6,882,655
	7,319			Stile Acquisition Corporation, U.S. Term Loan		7.115%		4/05/13		BB			6,894,380
	3,960			TFS Acquisition, Term Loan		8.698%		8/11/13		B+			3,900,600
	48,827			Total Building Products									45,933,612
				Capital Markets – 1.2% (0.8% of Total Investments)
	2,394			Ameritrade Holdings Corporation, Term Loan B Facility		6.300%		12/31/12		Ba1			2,370,036
	961			BNY ConvergEx Group Incremental Delayed Draw Term Loan, (6) (7)		1.500%		7/02/14		B2			(26,418	)
	4,643			BNY ConvergEx Group Term Loan		8.200%		10/02/13		B2			4,584,821
	921			BNY ConvergEx Group Incremental Term Loan		8.200%		7/02/14		B2			909,712
	8,919			Total Capital Markets									7,838,151
				Chemicals – 9.7% (5.9% of Total Investments)
	5,572			Celanese Holdings, LLC, Term Loan		6.979%		4/02/14		BB			5,483,779
	1,400			Celanese Holdings, LLC, Credit Linked Deposits		5.124%		4/02/14		BB			1,377,834
	1,837			Foamex LP, Term Loan B		7.444%		2/12/13		B+			1,770,971
	656			Headwaters Inc., 1st Lien Term Loan		6.900%		4/30/11		BB+			646,406
	8,517			Hercules Inc., Term Loan B		6.714%		10/08/10		BBB-			8,463,413
	4,868			Hexion Specialty Chemicals, Term Loan C1		7.500%		5/05/13		Ba3			4,827,304
	1,057			Hexion Specialty Chemicals, Term Loan C2		7.500%		5/05/13		Ba3			1,048,628
	8,150			Huntsman International LLC, Term Loan		6.643%		4/19/14		BB+			8,095,331
	3,960			Ineos Group Holdings PLC, Term Tranche B2		7.358%		12/16/13		BB-			3,931,007
	3,960			Ineos Group Holdings PLC, Term Tranche C2		7.858%		12/16/14		BB-			3,931,007
	456			JohnsonDiversey Inc., Term Loan		7.360%		12/16/11		Ba2			450,778
	1,462			Lucite International, Term Loan B-1		7.450%		7/07/13		BB-			1,436,812
	518			Lucite International, Term Loan B-2		7.450%		7/07/13		BB-			508,725
	6,930			Lyondell Petrochemical Company, Term Loan		6.252%		8/16/13		BB+			6,904,976
	12,675			Rockwood Specialties Group, Inc., Term Loan E		6.460%		7/30/12		BB			12,492,005
	62,018			Total Chemicals									61,368,976
				Commercial Services & Supplies – 3.2% (1.9% of Total Investments)
	2,681			Allied Waste North America, New Term Loan B		6.552%		3/28/14		BBB-			2,636,394
	1,442			Allied Waste North America, LC Facility		6.871%		3/28/14		BBB-			1,418,248
	4,146			Aramark Corporation, Term Loan		7.198%		1/24/14		BB-			4,052,796
	296			Aramark, Letter of Credit		7.198%		1/24/14		BB-			289,657
	993			NCO Financial Systems Inc., Term Loan		8.353%		5/15/13		BB-			965,827
	2,388			Rental Services Corporation, Second Lien Term Loan		8.750%		11/27/13		B-			2,333,803
	5,500			Williams Scotsman, Inc., Term Loan B		0.000%		6/28/10		BB+			5,458,750
	1,355			Workflow Holdings Corporation, Term Loan		9.484%		11/30/11		BB-			1,178,770
	1,790			Xerium Technologies Inc. Term Loan B		7.948%		11/21/11		B+			1,698,058
	20,591			Total Commercial Services & Supplies									20,032,303
				Communications Equipment – 0.8% (0.5% of Total Investments)
	2,970			Aspect Software, Term Loan		8.250%		7/11/11		BB-			2,880,900
	1,995			IPC Systems Inc., Term Loan		7.448%		5/31/14		B+			1,863,330
	4,965			Total Communications Equipment									4,744,230
				Consumer Finance – 0.5% (0.3% of Total Investments)
	2,944			Peach Holdings Inc., Term Loan		8.950%		11/30/13		B			2,899,594
				Containers & Packaging – 4.5% (2.7% of Total Investments)
	498			Amscan Holdings Inc., Term Loan B		7.563%		5/25/13		B1			482,575
	1,137			Bluegrass Container Company, LLC, Delayed Draw, 1st Lien		7.288%		6/30/13		BB			1,131,943
	3,800			Bluegrass Container Company, LLC, Term Loan B		7.322%		6/30/13		BB			3,783,074
	19,503			Graham Packaging Company, L.P., Term Loan B		7.661%		12/13/11		B+			19,164,424
	699			Smurfit-Stone Container Corporation, Deposit Funded Commitment		7.124%		11/01/10		Ba2			693,073
	1,040			Smurfit-Stone Container Corporation, Term Loan B		7.428%		11/01/11		Ba2			1,031,729
	1,496			Smurfit-Stone Container Corporation, Term Loan C		7.523%		11/01/11		Ba2			1,483,626
	469			Smurfit-Stone Container Corporation, Term Loan Tranche C-1		7.188%		11/01/11		Ba2			465,614
	28,642			Total Containers & Packaging									28,236,058
				Diversified Consumer Services – 3.0% (1.8% of Total Investments)
	11,000			Thomson Learning Center, Term Loan		7.950%		7/05/14		B+			10,663,890
	8,544			West Corporation, Term Loan		7.273%		10/24/13		BB-			8,392,914
	19,544			Total Diversified Consumer Services									19,056,804
				Diversified Telecommunication Services – 7.5% (4.5% of Total Investments)
	953			Choice One Communications, Term Loan		9.250%		6/30/12		B1			943,329
	5,970			Crown Castle Operating Company, Term Loan		6.645%		1/26/14		BBB-			5,844,069
	3,911			Intelsat Corporation, Term Loan		7.124%		7/01/13		BB+			3,871,884
	18,825			Intelsat Corporation, Tranche B-2 Term Loan		7.124%		12/03/13		BB+			18,635,028
	6,800			Level 3 Financing, Inc., Term Loan		7.493%		3/13/14		B+			6,638,973
	5,935			MetroPCS Wireless Inc., Term Loan		7.579%		11/03/13		Ba3			5,830,501
	5,500			Qwest Corporation, Term Loan B		6.950%		6/30/10		BBB-			5,619,169
	47,894			Total Diversified Telecommunication Services									47,382,953
				Electric Utilities – 4.6% (2.8% of Total Investments)
	17,689			Calpine Corporation DIP Term Loan		7.448%		3/29/09		N/R			17,538,852
	2,222			Calpine Corporation DIP Revolver, (6) (7)		0.250%		3/29/09		N/R			(105,556	)
	188			MACH Gen LLC, Term Loan Synthetic Letter of Credit		7.200%		2/22/13		B+			181,828
	1,799			MACH Gen LLC, Term Loan		7.500%		2/22/14		B+			1,744,489
	6,000			Texas Competitive Electric Holdings, Term Loan WI/DD		TBD		TBD		Ba3			6,001,866
	4,000			Texas Competitive Electric Holdings, Term Loan B3, WI/DD		TBD		TBD		Ba3			4,000,000
	31,898			Total Electric Utilities									29,361,479
				Electronic Equipment & Instruments – 0.1% (0.1% of Total Investments)
	988			Sensata Technologies B.V., U.S. Term Loan		6.760%		4/27/13		BB			963,253
				Energy Equipment & Services – 0.1% (0.1% of Total Investments)
	998			Petroleum Geo-Services, Term Loan		6.950%		7/01/12		Ba2			981,706
				Food & Staples Retailing – 0.6% (0.4% of Total Investments)
	3,910			Supervalu, Term Loan B		6.219%		6/02/12		N/R			3,866,162
				Food Products – 0.8% (0.5% of Total Investments)
	465			Dole Foods Company Inc., Deposit-Funded Commitment		7.290%		4/12/13		BB-			452,487
	1,031			Dole Foods Company Inc., Term Loan B		7.572%		4/12/13		BB-			1,002,825
	3,436			Dole Foods Company Inc., Term Loan C		7.415%		4/12/13		BB-			3,342,749
	4,932			Total Food Products									4,798,061
				Gas Utilities – 0.1% (0.1% of Total Investments)
	1,000			Energy Transfer Equity LP, Term Loan		7.106%		2/08/12		BBB-			985,313
				Health Care Providers & Services – 10.2% (6.2% of Total Investments)
	309			Community Health Systems, Inc. Delayed Term Loan, (6) (7)		0.500%		7/25/14		BB			(6,767	)
	4,691			Community Health Systems, Inc., First Lien Term Loan		7.756%		7/25/14		BB			4,588,034
	4,745			Davita Inc., Term Loan B		6.754%		10/05/12		BB+			4,655,496
	10,918			HCA, Inc. Term Loan		7.448%		11/18/13		BB			10,684,701
	9,950			Health Management Associates, Inc., Term Loan		6.942%		2/28/14		Ba2			9,529,886
	1,717			HealthSouth Corporation, Term Loan		7.628%		3/10/13		BB-			1,684,474
	3,246			IASIS Healthcare, LLC, Delayed Term Loan (6)		5.960%		3/14/14		Ba2			2,259,354
	866			IASIS Healthcare, LLC, LC Facility		4.693%		3/14/14		Ba2			827,584
	9,454			IASIS Healthcare, LLC, Term Loan		7.066%		3/14/14		Ba2			9,037,325
	1,985			Invacare Corporation, Term Loan B		7.635%		2/12/13		Ba2			1,934,755
	3,920			LifeCare, Term Loan B		8.200%		8/11/12		B			3,655,394
	519			LifePoint Hospitals, Inc., Term Loan B		7.165%		4/18/12		BB			509,960
	2,925			Select Medical Corporation, Term Loan		7.477%		2/24/12		Ba2			2,814,094
	12,676			Vanguard Health Holding Company, II, LLC, Replacement Term Loan		7.448%		9/23/11		Ba3			12,426,541
	67,921			Total Health Care Providers & Services									64,600,831
				Health Care Technology – 0.3% (0.2% of Total Investments)
	1,945			Emdeon Business Services Term Loan		5.205%		1/18/13		BB-			1,916,086
				Hotels, Restaurants & Leisure – 11.5% (7.0% of Total Investments)
	9,303			24 Hour Fitness Worldwide, Inc., Term Loan B		7.809%		6/08/12		Ba3			9,163,641
	3,133			Ameristar Casinos, Inc., Term Loan B		7.428%		11/10/12		BB+			3,109,900
	1,256			Burger King Corporation, Term Loan B		6.750%		6/30/12		BB+			1,244,060
	122			CBRL Group, Inc., Term Loan B-2 Delayed Draw		7.431%		4/28/13		BB			119,021
	776			CBRL Group, Inc., Term Loan B-1		6.860%		4/28/13		BB			756,363
	4,938			Cedar Fair LP, Term Loan		6.753%		8/30/12		BB			4,848,008
	959			Green Valley Ranch Gaming, Term Loan B		7.413%		2/16/14		BB-			939,464
	4,382			Intrawest Corporation, Term Loan		8.130%		4/24/08		N/R			4,348,975
	4,000			Orbitz Worldwide Inc., Term Loan,		8.198%		7/25/14		BB-			3,947,500
	7,835			Penn National Gaming, Inc., Term Loan B		6.901%		10/03/12		BBB-			7,795,368
	1,733			Seminole Gaming, Term Loan B-1 Delay Draw		6.750%		3/05/14		BBB			1,720,881
	1,749			Seminole Gaming, Term Loan B-2 Delay Draw		7.125%		3/05/14		BBB			1,736,964
	518			Seminole Gaming, Term Loan B-3 Delay Draw		6.972%		3/05/14		BBB			514,656
	4,891			Travelport, Term Loan		7.448%		8/23/13		BB-			4,802,646
	981			Travelport, LC Facility		7.448%		8/23/13		BB-			963,654
	1,995			Travelport, Delayed Term Loan		7.448%		8/23/13		BB-			1,958,529
	1,955			Trump International, Term Loan B2		7.861%		5/20/12		BB-			1,935,425
	1,955			Trump International, Term Loan B-1		7.900%		5/20/12		BB-			1,935,425
	9,255			Universal City Development Partners, Ltd., Term Loan		7.328%		6/09/11		Ba1			9,173,568
	3,000			Venetian Casino Resort, LLC, (Las Vegas Sands, Inc.) Delayed Term Loan, (6) (7)		0.750%		5/23/14		BB			(82,646	)
	11,970			Venetian Casino Resort, LLC, Term Loan		6.950%		5/23/14		BB			11,640,244
	76,706			Total Hotels, Restaurants & Leisure									72,571,646
				Household Durables – 0.2% (0.1% of Total Investments)
	1,842			Rent-A-Center Inc., Term Loan B		7.190%		6/30/12		BB+			1,808,249
				Household Products – 1.6% (0.9% of Total Investments)
	7,872			Prestige Brands, Inc., Term Loan B		7.731%		4/06/11		BB-			7,832,624
	1,961			Solo Cup Company, Term Loan		8.669%		2/27/11		B1			1,959,939
	9,833			Total Household Products									9,792,563
				Independent Power Producers & Energy Traders – 2.0% (1.2% of Total Investments)
	1,669			Covanta Energy Corporation, Term Loan		6.876%		2/09/14		BB			1,626,247
	822			Covanta Energy Corporation, Synthetic Letter of Credit		6.729%		2/09/14		BB			801,009
	3,154			NRG Energy Inc., Credit Linked Deposits		6.848%		2/01/13		Ba1			3,092,736
	2,331			NRG Energy Inc., Holdco Term Loan, (6) (7)		0.500%		2/01/13		BB			(45,369	)
	7,577			NRG Energy Inc., Term Loan		6.948%		2/01/13		Ba1			7,431,020
	15,553			Total Independent Power Producers & Energy Traders									12,905,643
				Insurance – 2.5% (1.5% of Total Investments)
	16,648			Conseco, Inc., Term Loan		6.819%		10/10/13		Ba3			15,947,316
				Internet Software & Services – 0.5% (0.3% of Total Investments)
	2,977			Riverdeep Interactive Learning USA, Inc., Term Loan		7.948%		12/20/13		B1			2,965,042
				IT Services – 4.6% (2.8% of Total Investments)
	7,000			First Data Term Loan, Tranche B		7.960%		9/24/14		BB-			6,749,432
	1,358			Infor Global Solutions, Term Loan Delayed Draw		8.950%		7/28/12		B+			1,323,771
	2,602			Infor Global Solutions, Term Loan		8.950%		7/28/12		B+			2,498,194
	18,474			SunGard Data Systems Inc., Term Loan B		7.356%		2/28/14		BB+			18,264,135
	29,434			Total IT Services									28,835,532
				Leisure Equipment & Products – 1.5% (0.9% of Total Investments)
	10,025			Bombardier Recreational Products, Term Loan		7.699%		6/28/13		B+			9,762,152
				Machinery – 1.2% (0.7% of Total Investments)
	2,567			Navistar International, Term Loan		8.234%		1/19/12		BB-			2,527,846
	933			Navistar International, Synthetic Letter of Credit		6.853%		1/19/12		BB-			919,217
	3,950			Oshkosh Truck Corporation, Term Loan		7.450%		12/06/13		BBB-			3,892,601
	7,450			Total Machinery									7,339,664
				Media – 27.4% (16.6% of Total Investments)
	2,000			American Media Operations, Inc., Term Loan C		8.800%		1/13/13		B1			1,977,500
	2,920			Cablevision Systems Corporation, Incremental Term Loan		6.875%		3/29/13		BB			2,857,320
	5,970			Cequel Communications LLC., Term Loan B		7.268%		11/05/13		BB-			5,793,885
	3,000			Charter Communications Operating, LLC, Holdco Term Loan		7.698%		3/06/14		B1			2,885,157
	11,700			Charter Communications Operating, LLC, Term Loan		6.990%		3/06/14		B+			11,263,198
	4,091			Clear Channel Entertainment, Term Loan B		7.950%		6/20/13		Ba3			4,029,735
	7,940			Idearc Inc., Term Loan		7.200%		11/17/14		BBB-			7,840,337
	13,748			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		8.448%		4/08/12		N/R			13,215,225
	17,835			Nielsen Finance LLC, Term Loan B, DD1		TBD		TBD		Ba3			17,391,593
	1,034			Nextmedia Operating Inc., Delayed Draw		7.122%		11/15/12		B+			989,820
	2,330			Nextmedia Operating Inc., First Lien Term Loan		7.045%		11/15/12		B+			2,231,122
	4,757			Philadelphia Newspapers, Term Loan		8.750%		6/29/13		N/R			4,376,105
	4,779			ProQuest Company, Term Loan B		8.170%		2/09/14		N/R			4,731,375
	995			Readers Digest Association, Term Loan B		7.544%		3/02/14		B+			946,251
	10,253			Regal Cinemas Corporation, Term Loan		6.698%		10/27/13		Ba2			10,039,985
	975			Spanish Broadcasting System Inc., Term Loan B		6.950%		6/10/12		B2			925,031
	5,600			Tribune Company, Term Loan X		7.744%		6/04/09		BB			5,543,563
	24,938			Tribune Company, Term Loan B		8.244%		6/04/14		BB			23,216,813
	1,510			Univision Communications, Delayed Term Loan, (6) (7)		3.668%		9/29/14		B+			(42,471	)
	5,000			Univision Communications, Second Lien Term Loan		7.253%		3/29/09		B3			4,968,750
	24,161			Univision Communications, Term Loan		7.210%		9/29/14		Ba3			22,937,919
	3,000			UPC Broadband Holding BV, Term Loan J2		7.130%		12/31/14		Ba3			2,907,657
	427			Valassis Communications, Inc., Delayed Draw Term Loan, (6) (7)		1.000%		3/02/14		BB			(20,000	)
	1,432			Valassis Communications, Inc., Tranche B Term Loan		6.950%		3/02/14		BB			1,365,002
	15,244			WMG Acquisition Corp., Term Loan		7.419%		2/28/11		Ba2			14,920,481
	6,025			Yell Group, Term Loan		6.753%		10/27/12		N/R			5,955,809
	181,664			Total Media									173,247,162
				Metals & Mining – 1.4% (0.9% of Total Investments)
	2,761			Amsted Industries Incorporated, Delayed Draw Term Loan		7.266%		4/08/13		BB			2,702,185
	3,798			Amsted Industries Incorporated, Term Loan B		7.279%		4/08/13		BB			3,738,952
	998			Edgen Murray, II, L.P., Term Loan		8.115%		5/11/14		B			978,797
	1,841			John Maneely Company, Term Loan		8.638%		12/08/11		B+			1,721,364
	9,398			Total Metals & Mining									9,141,298
				Oil, Gas & Consumable Fuels – 0.9% (0.5% of Total Investments)
	1,990			Brand Services Inc., Term Loan B		7.528%		2/07/14		B1			1,912,888
	301			Coffeyville Resources LLC, Letter of Credit		8.481%		12/28/10		B-			298,813
	980			Coffeyville Resources LLC., Term Loan D		8.481%		12/28/13		B-			974,533
	1,165			El Paso Corporation, Letter of Credit		6.438%		7/31/11		Ba1			1,151,401
	484			Targa Resources Inc., Synthetic Letter of Credit		7.323%		10/31/12		Ba3			480,363
	867			Targa Resources Inc., Term Loan B		7.525%		10/31/12		Ba3			861,131
	5,787			Total Oil, Gas & Consumable Fuels									5,679,129
				Paper & Forest Products – 3.3% (2.0% of Total Investments)
	11,790			Georgia-Pacific Corporation, Term Loan B		7.383%		12/20/12		BB+			11,529,989
	4,640			Georgia-Pacific Corporation, Term Loan B-2		7.372%		12/20/12		BB+			4,537,842
	1,995			NewPage Corporation, Term Loan B		7.469%		5/02/11		Ba2			1,979,936
	2,877			Ply Gem Industries Inc., Term Loan B3		7.950%		8/15/11		BB-			2,709,140
	108			Ply Gem Industries Inc., Canadian Term Loan		7.950%		8/15/11		BB-			101,233
	21,410			Total Paper & Forest Products									20,858,140
				Pharmaceuticals – 1.0% (0.6% of Total Investments)
	1,721			Stiefel Laboratories Inc, Delayed Term Loan		7.499%		12/28/13		BB-			1,688,286
	2,249			Stiefel Laboratories Inc, Term Loan		7.499%		12/28/13		BB-			2,207,277
	1,715			Warner Chilcott Corporation, Tranche B Acquisition		7.245%		1/18/12		BB-			1,691,799
	513			Warner Chilcott Corporation, Tranche C		7.198%		1/18/12		BB-			506,329
	6,198			Total Pharmaceuticals									6,093,691
				Real Estate Management & Development – 4.5% (2.7% of Total Investments)
	7,303			Capital Automotive LP., Term Loan		6.880%		12/15/10		BB+			7,226,284
	16,000			LNR Property Corporation, Term Loan B		8.110%		7/12/11		BB			15,640,000
	6,000			Realogy Corporation, Term Loan, WI/DD		TBD		TBD		BB			5,592,000
	29,303			Total Real Estate Management & Development									28,458,284
				Road & Rail – 4.4% (2.7% of Total Investments)
	667			Hertz, LC Facility		5.238%		12/21/12		BB+			657,530
	3,705			Hertz, Term Loan		6.871%		12/21/12		BB+			3,654,621
	26,512			Swift Transportation, Term Loan		8.375%		5/10/14		BB-			23,429,651
	30,884			Total Road & Rail									27,741,802
				Semiconductors & Equipment – 0.5% (0.3% of Total Investments)
	2,977			Freescale Semiconductor, Term Loan		7.330%		11/29/13		Baa3			2,864,554
				Software – 2.3% (1.4% of Total Investments)
	8,408			Dealer Computer Services, Term Loan		7.198%		10/26/12		BB			8,226,872
	6,000			Dealer Computer Services, Second Lien Term Loan		10.698%		10/26/13		B			6,015,000
	14,408			Total Software									14,241,872
				Specialty Retail – 6.8% (4.1% of Total Investments)
	3,281			Blockbuster, Inc., Term Loan B		9.623%		8/20/11		B			3,267,112
	970			Burlington Coat Factory Warehouse Corporation, Term Loan		7.760%		5/28/11		B2			912,138
	5,940			CSK Automotive Corporation, Term Loan		9.000%		7/29/10		Ba3			5,925,374
	876			J Crew Operating Corporation, Term Loan		6.786%		5/15/13		BB-			862,573
	12,633			Michaels Stores Inc., Term Loan		7.619%		10/31/13		B			12,131,124
	5,940			Sally Holdings LLC, Term Loan		8.006%		11/16/13		BB-			5,836,050
	11,000			TRU 2005 RE Holding Co I, LLC, Term Loan		8.129%		12/08/08		B3			10,899,169
	3,000			Toys “R” Us, Delaware Inc., Term Loan		9.760%		7/19/12		BB-			3,015,624
	43,640			Total Specialty Retail									42,849,164
				Textiles, Apparel & Luxury Goods – 1.2% (0.7% of Total Investments)
	3,490			HanesBrands Inc., Term Loan		6.743%		9/05/13		BB			3,451,392
	2,000			HanesBrands Inc., Second Lien Term Loan		8.815%		3/05/14		BB			2,013,750
	1,818			Visant Holding Corporation, Term Loan C		7.198%		7/29/10		Ba1			1,806,460
	7,308			Total Textiles, Apparel & Luxury Goods									7,271,602
				Trading Companies & Distributors – 1.3% (0.8% of Total Investments)
	1,980			Ashtead Group Public Limited Company, Term Loan		7.125%		8/31/11		BB+			1,945,350
	393			Brenntag Holdings, Acquisition Facility		7.387%		1/20/14		B+			384,954
	1,607			Brenntag Holdings, Term Loan B2		7.387%		1/20/14		B+			1,575,462
	1,120			United Rentals Inc., Tranche B Credit Linked Deposit		5.322%		2/13/11		Ba1			1,117,176
	3,113			United Rentals Inc., Term Loan B		7.130%		2/14/11		Ba1			3,104,406
	8,213			Total Trading Companies & Distributors									8,127,348
				Wireless Telecommunication Services – 1.9% (1.1% of Total Investments)
	12,000			Asurion Corporation, Term Loan		8.360%		7/03/14		N/R			11,756,252
$	957,086			Total Variable Rate Senior Loan Interests (cost $942,163,392)									919,567,497

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Corporate Bonds – 10.5% (6.4% of Total Investments)
				Diversified Telecommunication Services – 0.9% (0.5% of Total Investments)
$	5,000			Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR		8.144%		6/15/13		BBB-		$	5,356,250
				Energy Equipment & Services – 0.8% (0.5% of Total Investments)
	5,000			Williams Companies Inc., Floating Rate Note, 2.000% plus three-month LIBOR, 144A		6.894%		10/01/10		BB+			5,081,250
				Food Products – 0.5% (0.3% of Total Investments)
	1,528			Dole Foods Company		8.625%		5/01/09		B-			1,543,280
	1,780			Dole Foods Company		8.875%		3/15/11		B-			1,759,975
	3,308			Total Food Products									3,303,255
				Hotels, Restaurants & Leisure – 1.3% (0.8% of Total Investments)
	7,900			Mohegan Tribal Gaming Authority		8.000%		4/01/12		Ba2			8,107,375
				Media – 1.6% (1.0% of Total Investments)
	10,000			Cablevision Systems Corporation, Floating Rate Note, 4.500% plus six-month LIBOR, 144A		9.306%		4/01/09		B+			10,325,000
				Paper & Forest Products – 0.7% (0.4% of Total Investments)
	500			Verso Paper Holdings LLC., Series B		9.125%		8/01/14		B+			518,750
	4,000			Verso Paper Holdings LLC., Floating Rate Note, 3.750% plus three-month LIBOR		8.644%		8/01/14		B+			4,040,000
	4,500			Total Paper & Forest Products									4,558,750
				Real Estate Investment Trust – 0.6% (0.4% of Total Investments)
	4,000			Felcor Lodging LP, Floating Rate Note, 1.875% plus six-month LIBOR		6.681%		12/01/11		Ba3			4,020,000
				Semiconductors & Equipment – 3.7% (2.3% of Total Investments)
	7,000			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR		10.394%		6/01/13		B			7,175,000
	16,000			NXP BV, Floating Rate Note, 2.750% plus three-month LIBOR		7.644%		10/15/13		BB			15,220,000
	1,000			Spansion LLC., Floating Rate Note, 3.125% plus three-month LIBOR, 144A		8.019%		6/01/13		B+			952,500
	24,000			Total Semiconductors & Equipment									23,347,500
				Textiles, Apparel & Luxury Goods – 0.2% (0.1% of Total Investments)
	1,000			HanesBrands Inc., Floating Rate Note, 3.375% plus six-month LIBOR		8.181%		12/15/14		B2			1,010,000
				Wireless Telecommunication Services – 0.2% (0.1% of Total Investments)
	1,000			Dobson Communications Corporation, Floating Rate Note, 4.250% plus three-month LIBOR		9.144%		10/15/12		Caa1			1,025,000
$	65,708			Total Corporate Bonds (cost $66,550,356)									66,134,380

Shares				Description (1)								Value
				Warrants – 0.1% (0.1% of Total Investments)
	36,521			Reliant Energy Inc., Warrant Class A								$	774,245
				Total Warrants (cost $257,912)									774,245

Principal

Amount (000)

Description (1)

Coupon

Maturity

Value

Short-Term Investments – 8.7% (5.3% of Total Investments)

$

54,916

Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/31/07,

4.300%

11/01/07

$

54,915,821

repurchase price $54,922,380, collateralized by $55,530,000 U.S. Treasury

Notes, 4.125%, due 8/15/08, value $56,015,888

Total Short-Term Investments (cost $54,915,821)

54,915,821

				Total Investments (cost $1,063,887,481) – 164.9%									1,041,391,943
				Other Assets Less Liabilities – (1.6)%									(9,762,956	)
				Preferred Shares, at Liquidation Value – (63.3)%									(400,000,000	)
				Net Assets Applicable to Common Shares – 100%								$	631,628,987

(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 in which the Fund invests 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 October 31, 2007, this issue was under the protection of the Federal Bankruptcy Court.
(6)		Position or portion of position represents an unfunded Senior Loan Commitment outstanding at October 31, 2007. At October 31, 2007, the Fund had unfunded Senior Loan commitments of $10,932,861.
(7)		Negative value represents unrealized depreciation on Senior Loan Commitment at October 31, 2007.
N/R		Not rated.
DD1		Portion of investment purchased on a 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.
WI/DD		Purchased on a when-issued or delayed delivery basis.

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.

At October 31, 2007, the cost of investments was $1,064,832,799.

Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2007, were as follows:

Gross unrealized:
Appreciation		$	2,748,598
Depreciation			(26,189,454	)
Net unrealized appreciation (depreciation) of investments		$	(23,440,856	)

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 28, 2007

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 28, 2007

Date December 28, 2007