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 811-21579

Nuveen Floating Rate Income Opportunity 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:    4/30/2009   

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 Opportunity Fund (JRO)
April 30, 2009

						Weighted
Principal						Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 127.4% (86.5% of Total Investments) (4)
				Aerospace & Defense – 0.8% (0.6% of Total Investments)
$	574			DAE Aviation Holdings, Inc., Term Loan B1		4.392%		7/31/14		B+		$	338,936
	565			DAE Aviation Holdings, Inc., Term Loan B2		4.790%		7/31/14		B+			333,276
	1,150			Transdigm, Inc., Term Loan B		3.227%		6/23/13		BB-			1,058,959
	2,289			Total Aerospace & Defense									1,731,171
				Airlines – 3.3% (2.2% of Total Investments)
	1,965			Delta Air Lines, Inc., Term Loan		3.739%		4/30/14		B			1,016,069
	3,679			Northwest Airlines, Inc., DIP Term Loan		2.460%		12/31/10		BB-			3,410,038
	4,564			United Air Lines, Inc., Term Loan B		2.456%		2/01/14		B+			2,317,724
	10,208			Total Airlines									6,743,831
				Auto Components – 2.4% (1.6% of Total Investments)
	4,869			Federal-Mogul Corporation, Tranche B, Term Loan, DD1		2.430%		12/29/14		BB-			2,783,723
	2,485			Federal-Mogul Corporation, Tranche C, Term Loan, DD1		2.389%		12/28/15		BB-			1,420,755
	1,970			Lear Corporation, Term Loan		3.205%		4/25/12		B			796,373
	9,324			Total Auto Components									5,000,851
				Building Products – 5.0% (3.4% of Total Investments)
	1,592			Atrium Companies, Inc., Term Loan		12.494%		5/31/12		CCC-			336,751
	3,000			Building Materials Corporation of America, Term Loan, Second Lien		6.250%		9/15/14		Caa2			1,755,000
	4,889			Building Materials Corporation of America, Term Loan		3.250%		2/22/14		B+			3,684,796
	3,374			Stile Acquisition Corporation, Canadian Term Loan		4.250%		4/05/13		Caa3			1,651,881
	3,411			Stile Acquisition Corporation, Term Loan B		4.250%		4/05/13		Caa3			1,670,112
	2,925			TFS Acquisition, Term Loan		4.720%		8/11/13		B2			1,352,813
	19,191			Total Building Products									10,451,353
				Chemicals – 6.0% (4.1% of Total Investments)
	800			Celanese US Holdings LLC, Credit Linked Deposit		2.001%		4/02/14		BB+			712,182
	1,529			Foamex LP, Term Loan B, (5)		7.500%		2/12/13		D			440,794
	1,197			Georgia Gulf Corporation, Term Loan, WI/DD		TBD		TBD		B3			774,016
	958			Hercules Offshore, Inc., Term Loan		2.960%		7/11/13		BB			654,059
	2,972			Hexion Specialty Chemicals, Inc., Term Loan C1, DD1		3.500%		5/05/13		B1			1,473,220
	646			Hexion Specialty Chemicals, Inc., Term Loan C2, DD1		3.500%		5/05/13		B1			320,025
	2,992			Huntsman International LLC, Term Loan		2.178%		4/19/14		Ba1			2,483,399
	1,485			Ineos US Finance LLC, Tranche B2		7.501%		12/16/13		CCC+			796,786
	1,485			Ineos US Finance LLC, Tranche C2		8.001%		12/16/14		CCC+			796,786
	1,246			JohnsonDiversey, Inc., Delayed Term Loan		3.184%		12/16/10		Ba2			1,180,806
	1,440			Lucite International, Term Loan B1		2.680%		7/07/13		B+			1,396,985
	510			Lucite International, Term Loan B2		2.680%		7/07/13		B+			494,700
	1,000			LyondellBasell Finance Company, Term Loan B2, (5), (6), DD1		7.000%		12/22/14		Caa2			320,000
	705			Rockwood Specialties Group, Inc., Term Loan E		2.178%		7/30/12		BB			636,081
	18,965			Total Chemicals									12,479,839
				Commercial Services & Supplies – 1.6% (1.1% of Total Investments)
	26			Cenveo Corporation, Delayed Term Loan		5.727%		6/21/13		Ba2			23,419
	923			Cenveo Corporation, Term Loan		5.727%		6/21/13		Ba2			820,279
	945			NCO Financial Systems, Inc., Term Loan		7.017%		5/15/13		Ba3			666,207
	2,188			Rental Services Corporation, Term Loan, DD1		4.506%		11/27/13		B-			1,421,915
	812			Workflow Holdings Corporation, Term Loan		8.000%		11/30/11		Caa1			418,041
	4,894			Total Commercial Services & Supplies									3,349,861
				Communications Equipment – 0.6% (0.4% of Total Investments)
	1,926			Aspect Software, Inc., Term Loan B		4.250%		7/11/11		B1			1,261,666
				Construction Materials – 0.6% (0.4% of Total Investments)
	2,000			McJunkin Red Man Holding Corporation, Term Loan		3.678%		1/31/14		B-			1,156,667
				Consumer Finance – 0.3% (0.2% of Total Investments)
	1,858			Peach Holdings, Inc., Term Loan		5.105%		11/30/13		B			548,208
				Containers & Packaging – 1.3% (0.9% of Total Investments)
	490			Amscan Holdings, Inc., Term Loan		3.648%		5/25/13		B1			421,400
	426			Smurfit-Stone Container Corporation, Canadian Revolver		3.199%		1/28/10		D			334,763
	258			Smurfit-Stone Container Corporation, Deposit-Funded Commitment		0.000%		1/28/10		D			198,976
	294			Smurfit-Stone Container Corporation, Term Loan B		2.820%		1/28/10		D			226,440
	554			Smurfit-Stone Container Corporation, Term Loan C		2.820%		1/28/10		D			430,679
	167			Smurfit-Stone Container Corporation, Tranche C1		2.820%		1/28/10		D			130,213
	1,288			Smurfit-Stone Container Corporation, US Revolver		2.724%		1/28/10		D			1,011,186
	3,477			Total Containers & Packaging									2,753,657
				Diversified Consumer Services – 1.8% (1.2% of Total Investments)
	1,920			Cengage Learning Acquisitions, Inc., Term Loan		2.930%		7/05/14		B+			1,425,307
	257			Laureate Education, Inc., Delayed Term Loan		4.342%		8/17/14		B1			190,528
	1,716			Laureate Education, Inc., Term Loan B		4.342%		8/17/14		B1			1,273,128
	880			West Corporation, Term Loan		2.703%		10/24/13		BB-			744,717
	4,773			Total Diversified Consumer Services									3,633,680
				Diversified Financial Services – 0.5% (0.4% of Total Investments)
	1,796			Fox Acquisition Sub LLC, Term Loan B		7.250%		7/14/15		B			1,104,433
				Diversified Telecommunication Services – 5.0% (3.4% of Total Investments)
	582			Intelsat, Tranche B, Term Loan A		2.989%		1/03/14		BB-			532,918
	582			Intelsat, Tranche B, Term Loan B		2.989%		1/03/14		BB-			532,756
	582			Intelsat, Tranche B, Term Loan C		2.989%		1/03/14		BB-			532,756
	1,926			Intelsat, Tranche B, Term Loan		2.989%		7/01/13		BB-			1,775,426
	2,000			Intelsat, Unsecured Term Loan		2.978%		2/01/14		BB-			1,586,000
	4,533			Level 3 Financing, Inc., Term Loan		3.195%		3/13/14		B+			3,651,600
	1,910			MetroPCS Wireless, Inc., Term Loan		3.168%		11/03/13		Ba2			1,788,863
	12,115			Total Diversified Telecommunication Services									10,400,319
				Electric Utilities – 2.9% (2.0% of Total Investments)
	806			Calpine Corporation, DIP Revolver, (7)		2.577%		3/31/14		B+			468,518
	3,408			Calpine Corporation, DIP Term Loan		4.095%		3/29/14		B+			2,914,647
	1,945			TXU Corporation, Term Loan B2		3.969%		10/10/14		B+			1,321,555
	1,970			TXU Corporation, Term Loan B3		3.969%		10/10/14		B+			1,335,794
	8,129			Total Electric Utilities									6,040,514
				Electrical Equipment – 1.0% (0.7% of Total Investments)
	2,901			Allison Transmission Holdings, Inc., Term Loan		3.219%		8/07/14		B			2,094,109
				Electronic Equipment & Instruments – 0.7% (0.5% of Total Investments)
	1,945			Sensata Technologies B.V., Term Loan		2.803%		4/27/13		B			1,376,088
				Energy Equipment & Services – 0.6% (0.4% of Total Investments)
	953			PGS Finance, Inc., Term Loan		2.970%		6/29/15		Ba2			831,783
	750			SemGroup, L.P., Term Loan B2, WI/DD		TBD		TBD		Caa3			317,500
	1,703			Total Energy Equipment & Services									1,149,283
				Food Products – 1.6% (1.1% of Total Investments)
	366			Dole Food Company, Inc., Deposit-Funded Commitment		7.979%		4/12/13		Ba3			349,918
	641			Dole Food Company, Inc., Term Loan B		7.965%		4/12/13		Ba3			613,270
	2,388			Dole Food Company, Inc., Term Loan C		7.974%		4/12/13		Ba3			2,285,097
	3,395			Total Food Products									3,248,285
				Health Care Equipment & Supplies – 1.0% (0.7% of Total Investments)
	1,412			Symbion, Inc., Term Loan A		3.678%		8/01/13		Ba3			1,003,929
	1,412			Symbion, Inc., Term Loan B		3.678%		8/01/14		Ba3			1,003,929
	2,824			Total Health Care Equipment & Supplies									2,007,858
				Health Care Providers & Services – 10.0% (6.8% of Total Investments)
	1,711			HCA, Inc., Term Loan A		3.220%		11/18/12		BB			1,552,558
	3,686			HCA, Inc., Term Loan, DD1		3.470%		11/18/13		BB			3,335,893
	4,645			Health Management Associates, Inc., Term Loan		2.970%		2/28/14		BB-			4,041,428
	1,477			HealthSouth Corporation, Term Loan		2.959%		3/10/13		BB-			1,340,140
	1,266			IASIS Healthcare LLC, Delayed Term Loan		2.428%		3/14/14		Ba2			1,127,346
	340			IASIS Healthcare LLC, Letter of Credit		0.335%		3/14/14		Ba2			302,897
	2,008			IASIS Healthcare LLC, PIK Term Loan		6.289%		6/15/14		CCC+			1,077,362
	3,658			IASIS Healthcare LLC, Term Loan		2.428%		3/14/14		Ba2			3,257,813
	519			LifePoint Hospitals, Inc.,Term Loan B		2.885%		4/15/12		Ba1			492,909
	4,432			Vanguard Health Holding Company II LLC, Replacement Term Loan		2.678%		9/23/11		Ba3			4,189,625
	23,742			Total Health Care Providers & Services									20,717,971
				Health Care Technology – 0.8% (0.5% of Total Investments)
	1,833			Emdeon Business Services LLC, Term Loan		2.848%		11/18/13		BB-			1,677,328
				Hotels, Restaurants & Leisure – 12.7% (8.6% of Total Investments)
	3,882			24 Hour Fitness Worldwide, Inc., Term Loan B		3.311%		6/08/12		Ba3			2,562,405
	367			CBRL Group, Inc., Term Loan B2		2.010%		4/28/13		BB-			325,281
	1,566			CCM Merger, Inc., Term Loan B		8.500%		7/13/12		B+			1,033,333
	2,891			Cedar Fair LP, Term Loan		2.428%		8/30/12		BB-			2,633,334
	333			Fontainebleau Las Vegas LLC, Delayed Term Loan		3.685%		6/06/14		CCC			55,000
	1,667			Fontainebleau Las Vegas LLC, Term Loan, DD1		4.527%		6/06/14		CCC			275,000
	471			Isle of Capri Casinos, Inc., Delayed Term Loan A, DD1		2.970%		11/25/13		B+			381,424
	535			Isle of Capri Casinos, Inc., Delayed Term Loan B, DD1		2.178%		11/25/13		B+			433,705
	1,339			Isle of Capri Casinos, Inc., Delayed Term Loan, DD1		2.970%		11/25/13		B+			1,084,264
	2,955			Orbitz Worldwide, Inc., Term Loan		3.970%		7/25/14		BB-			1,088,425
	4,721			Shingle Springs Tribal Gaming Authority, Term Loan, (7)		10.409%		12/17/13		B			4,101,189
	1,965			Travelport LLC, Delayed Term Loan		2.678%		8/23/13		Ba2			1,346,025
	714			Travelport LLC, Letter of Credit		3.470%		8/23/13		Ba2			481,601
	3,557			Travelport LLC, Term Loan		2.965%		8/23/13		Ba2			2,400,195
	1,985			Venetian Casino Resort LLC, Delayed Term Loan		2.180%		5/23/14		B-			1,209,948
	7,860			Venetian Casino Resort LLC, Term Loan		2.180%		5/23/14		B-			4,791,030
	3,254			Wintergames Holdings, Term Loan A		7.930%		12/22/13		N/R			2,196,366
	40,062			Total Hotels, Restaurants & Leisure									26,398,525
				Household Products – 1.0% (0.7% of Total Investments)
	2,252			Prestige Brands, Inc., Term Loan B		2.678%		4/06/11		BB-			2,173,241
				Insurance – 1.2% (0.8% of Total Investments)
	681			Affirmative Insurance Holdings, Inc., Term Loan		9.000%		1/31/14		B-			248,705
	5,304			Conseco, Inc., Term Loan		6.500%		10/10/13		Caa1			2,227,797
	5,985			Total Insurance									2,476,502
				Internet Software & Services – 1.2% (0.8% of Total Investments)
	772			Open Solutions, Inc., Term Loan B, WI/DD		TBD		TBD		BB-			424,665
	3,887			Sabre, Inc., Term Loan		3.068%		9/30/14		B1			2,164,216
	4,659			Total Internet Software & Services									2,588,881
				IT Services – 2.1% (1.4% of Total Investments)
	958			Attachmate Corporation, Term Loan		3.678%		4/13/13		BB-			761,305
	443			First Data Corporation, Term Loan B2		3.189%		9/24/14		Ba3			324,566
	1,067			Infor Global Solutions Intermediate Holdings, Ltd., Delayed Term Loan		4.180%		7/28/12		B+			480,851
	1,267			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan, Second Lien		6.678%		3/02/14		CCC+			414,833
	641			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan		4.180%		7/28/12		B+			461,314
	2,093			SunGard Data Systems, Inc., Term Loan B		2.670%		2/28/14		BB			1,888,938
	6,469			Total IT Services									4,331,807
				Leisure Equipment & Products – 1.9% (1.3% of Total Investments)
	6,283			Bombardier Recreational Products, Inc., Term Loan		3.950%		6/28/13		Caa1			3,204,485
	3,000			Wimar OpCo LLC, Term Loan, (6)		6.500%		1/03/12		N/R			832,500
	9,283			Total Leisure Equipment & Products									4,036,985
				Machinery – 3.1% (2.1% of Total Investments)
	2,993			Manitowoc Company, Term Loan		6.500%		11/06/14		BB+			2,298,240
	578			Navistar International Corporation, Synthetic Letter of Credit		3.678%		1/19/12		Ba3			472,746
	1,589			Navistar International Corporation, Term Loan		3.678%		1/19/12		Ba3			1,300,051
	1,695			Oshkosh Truck Corporation, Term Loan		7.243%		12/06/13		B+			1,399,117
	276			Rexnord Corporation, Incremental Term Loan		2.438%		7/19/13		BB-			218,151
	934			Rexnord Corporation, Term Loan		3.362%		7/19/13		BB-			744,037
	8,065			Total Machinery									6,432,342
				Media – 23.4% (15.9% of Total Investments)
	983			CanWest Mediaworks LP, Term Loan		3.256%		7/10/15		B3			388,088
	4,890			Cequel Communications LLC, Term Loan B		2.477%		11/05/13		BB-			4,444,999
	3,000			Charter Communications Operating Holdings LLC, Holdco Term Loan		6.750%		3/06/14		B1			2,004,000
	7,698			Charter Communications Operating Holdings LLC, Term Loan		4.464%		3/06/14		B1			6,514,012
	910			Cumulus Media, Inc., Term Loan		2.210%		6/11/14		B			463,926
	2,928			HIT Entertainment, Inc., Term Loan B		3.490%		3/20/12		B1			1,595,834
	2,000			HIT Entertainment, Inc., Term Loan		6.740%		2/26/13		Caa1			550,000
	4,757			Idearc, Inc., Term Loan		4.250%		11/17/14		Caa3			1,871,669
	5,850			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		3.678%		4/08/12		N/R			2,868,780
	5,902			Metro-Goldwyn-Mayer Studios, Inc., Term Loan		3.678%		4/08/12		N/R			2,894,545
	4,758			Neilsen Finance LLC, Term Loan		2.469%		8/09/13		Ba3			4,046,394
	3,029			NextMedia Operating, Inc., Term Loan, Second Lien		11.250%		11/15/13		CC			537,609
	3,049			Philadelphia Newspapers, Term Loan A, (5), (6)		16.500%		6/29/12		N/R			228,671
	2,012			Readers Digest Association, Inc., Term Loan, DD1		3.287%		3/02/14		CCC			689,225
	3,759			SFX Entertainment, Inc., Term Loan		4.136%		6/20/13		Ba3			3,194,983
	1,000			Spanish Broadcasting System, Inc., Term Loan B, WI/DD		TBD		TBD		CCC+			367,500
	9,807			Tribune Company, Term Loan B, (5), (6)		5.250%		6/04/14		Ca			2,877,873
	1,365			Tribune Company, Term Loan X, (5), (6)		5.000%		6/04/09		Ca			398,677
	13,000			Univision Communications, Inc., Term Loan		2.678%		9/29/14		B2			7,998,255
	2,735			WMG Acquisition Corporation, Term Loan		2.804%		2/28/11		BB			2,530,804
	4,025			Yell Group PLC, Term Loan		3.428%		10/27/12		B+			2,077,188
	87,457			Total Media									48,543,032
				Metals & Mining – 1.7% (1.2% of Total Investments)
	502			Aleris International, Inc., DIP Term Loan, (6), (7)		5.200%		2/12/10		N/R			322,218
	1,166			Amsted Industries, Inc., Delayed Term Loan		3.243%		4/06/13		BB			1,067,248
	1,606			Amsted Industries, Inc., Term Loan		3.151%		4/06/13		BB			1,469,557
	945			John Maneely Company, Term Loan		4.110%		12/08/13		B+			686,018
	4,219			Total Metals & Mining									3,545,041
				Oil, Gas & Consumable Fuels – 6.8% (4.6% of Total Investments)
	2,278			Alon Refining Krotz Springs, Inc., Term Loan		10.750%		7/03/14		B+			1,651,415
	113			Alon USA Energy, Inc., Edgington Facility		3.421%		6/22/13		BB			52,215
	903			Alon USA Energy, Inc., Paramount Facility		2.857%		6/22/13		BB			417,723
	278			Big West Oil LLC, Delayed Term Loan, WI/DD		TBD		TBD		Ca			225,570
	222			Big West Oil LLC, Term Loan, WI/DD		TBD		TBD		Ca			179,430
	575			Calumet Lubricants Company LP, Credit Linked Deposit		5.016%		1/03/15		B1			379,310
	4,300			Calumet Lubricants Company LP, Term Loan		5.234%		1/03/15		B1			2,838,172
	2,977			CCS Income Trust, Term Loan		3.428%		11/14/14		BB-			1,563,128
	134			Coffeyville Resources LLC, Credit Linked Deposit		8.750%		12/28/10		BB-			108,220
	432			Coffeyville Resources LLC, Tranche D, Term Loan		8.750%		12/28/13		BB-			347,682
	2,563			Quicksilver Resource, Inc., Term Loan		6.750%		8/08/13		B2			2,242,764
	567			RAM Energy Resources, Inc., Term Loan		8.000%		11/29/12		N/R			396,853
	4,675			Western Refining, Inc., Term Loan		8.250%		5/30/14		BB-			3,751,701
	20,017			Total Oil, Gas & Consumable Fuels									14,154,183
				Paper & Forest Products – 0.9% (0.6% of Total Investments)
	3,940			Wilton Products, Term Loan		3.698%		11/16/14		B+			1,871,500
				Pharmaceuticals – 0.2% (0.1% of Total Investments)
	1,000			Graceway Pharmaceuticals Inc, Term Loan, WI/DD		TBD		TBD		BB			313,600
				Real Estate Management & Development – 5.3% (3.6% of Total Investments)
	4,563			Capital Automotive LP, Term Loan		2.260%		12/15/10		Ba1			3,000,094
	8,800			LNR Property Corporation, Term Loan B		4.000%		7/12/11		BB			4,699,200
	4,913			Realogy Corporation, Delayed Term Loan		4.159%		10/10/13		Caa1			3,202,018
	18,276			Total Real Estate Management & Development									10,901,312
				Road & Rail – 4.7% (3.2% of Total Investments)
	444			Hertz Corporation, Letter of Credit		2.977%		12/21/12		Ba1			360,667
	2,433			Hertz Corporation, Term Loan		2.215%		12/21/12		Ba1			1,974,741
	12,148			Swift Transportation Company, Inc., Term Loan		3.813%		5/10/14		B-			7,463,189
	15,025			Total Road & Rail									9,798,597
				Semiconductors & Equipment – 0.4% (0.3% of Total Investments)
	1,506			Freescale Semiconductor, Inc., Term Loan		2.259%		12/01/13		B2			886,957
				Software – 3.6% (2.4% of Total Investments)
	4,000			Dealer Computer Services, Inc., Term Loan, Second Lien		5.928%		10/26/13		B			1,450,000
	5,860			Dealer Computer Services, Inc., Term Loan		2.428%		10/26/12		BB			4,129,117
	3,436			IPC Systems, Inc., Term Loan		3.470%		5/31/14		B+			1,895,396
	13,296			Total Software									7,474,513
				Specialty Retail – 6.5% (4.4% of Total Investments)
	98			Blockbuster, Inc., Tranche A, Term Loan		6.050%		8/20/09		B1			89,488
	1,704			Blockbuster, Inc., Tranche B, Term Loan		5.825%		8/20/11		B1			1,165,502
	2,470			Burlington Coat Factory Warehouse Corporation, Term Loan, DD1		2.680%		5/28/13		B3			1,722,675
	3,209			Michaels Stores, Inc., Term Loan		2.696%		10/31/13		B			2,231,172
	4,985			Toys “R” Us – Delaware, Inc., Term Loan B		4.697%		7/19/12		BB-			3,936,429
	6,908			TRU 2005 RE Holding Co I LLC, Term Loan		3.509%		12/08/09		B3			4,369,391
	19,374			Total Specialty Retail									13,514,657
				Trading Companies & Distributors – 0.8% (0.5% of Total Investments)
	1,824			Ashtead Group Public Limited Company, Term Loan		2.250%		8/31/11		BB+			1,650,721
				Wireless Telecommunication Services – 2.1% (1.4% of Total Investments)
	5,000			Asurion Corporation, Term Loan		3.775%		7/03/14		N/R			4,367,501
$	406,997			Total Variable Rate Senior Loan Interests (cost $379,512,111)									264,386,869

Principal

Amount (000)

Description (1)

Coupon

Maturity

Ratings (3)

Value

Convertible Bonds – 1.4% (0.9% of Total Investments)

Food & Staples Retailing – 0.9% (0.6% of Total Investments)

$

2,747

Great Atlantic & Pacific Tea Company Inc.

5.125%

6/15/11

CCC+

$

1,771,815

Semiconductors & Equipment – 0.5% (0.3% of Total Investments)

2,000

Advanced Micro Devices, Inc.

5.750%

8/15/12

CCC+

1,075,000

$

4,747

Total Convertible Bonds (cost $2,525,157)

2,846,815

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Corporate Bonds – 12.1% (8.2% of Total Investments)
				Auto Components – 0.2% (0.2% of Total Investments)
$	600			Exide Technologies		10.500%		3/15/13		B-		$	453,000
				Diversified Telecommunication Services – 2.8% (1.9% of Total Investments)
	6,500			Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR		4.266%		6/15/13		BBB-			5,915,002
				Electronic Equipment & Instruments – 0.4% (0.2% of Total Investments)
	1,450			Sanmina-SCI Corporation		8.125%		3/01/16		B3			739,500
				Food & Staples Retailing – 0.4% (0.3% of Total Investments)
	1,000			Duane Reade Inc., Floating Rate Note, 4.500% plus three-month LIBOR		5.516%		12/15/10		CCC+			855,000
				Health Care Equipment & Supplies – 1.8% (1.2% of Total Investments)
	1,500			Reable Therapeutics Financing Corporation		11.750%		11/15/14		CCC+			975,000
	3,500			Select Medical Corporation		7.625%		2/01/15		CCC			2,677,500
	5,000			Total Health Care Equipment & Supplies									3,652,500
				Health Care Providers & Services – 0.8% (0.5% of Total Investments)
	1,000			LifeCare Holdings Inc.		9.250%		8/15/13		CCC-			445,000
	2,000			Select Medical Corporation, Floating Rate Note, 5.750% plus three-month LIBOR		7.315%		9/15/15		CCC			1,135,000
	3,000			Total Health Care Providers & Services									1,580,000
				Hotels, Restaurants & Leisure – 0.8% (0.5% of Total Investments)
	4,000			Quapaw Tribe of Oklahoma Downstream Development Authority, 144A		12.000%		10/15/15		B-			1,580,000
				Household Durables – 0.2% (0.1% of Total Investments)
	600			Sealy Mattress Company		8.250%		6/15/14		CCC+			402,000
				Internet Software & Services – 0.1% (0.1% of Total Investments)
	1,000			Open Solutions Inc., 144A		9.750%		2/01/15		CCC+			185,000
				Leisure Equipment & Products – 0.9% (0.6% of Total Investments)
	2,000			Remington Arms Company		10.500%		2/01/11		B3			1,890,000
				Oil, Gas & Consumable Fuels – 0.0% (0.0% of Total Investments)
	1,000			SemGroup LP, 144A, (5), (8)		8.750%		11/15/15		N/R			37,500
				Paper & Forest Products – 0.4% (0.3% of Total Investments)
	2,000			Verso Paper Holdings LLC., Series B		9.125%		8/01/14		B-			930,000
				Pharmaceuticals – 0.4% (0.3% of Total Investments)
	1,000			Elan Financing Corporation PLC, Floating Rate Note, 4.500% plus three-month LIBOR		5.016%		11/15/11		B			865,000
				Real Estate Investment Trust – 0.8% (0.6% of Total Investments)
	3,000			Felcor Lodging LP, Floating Rate Note, 1.875% plus six-month LIBOR		3.440%		12/01/11		B			1,725,000
				Semiconductors & Equipment – 1.4% (1.0% of Total Investments)
	1,000			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR		6.516%		6/01/13		BB-			840,000
	2,970			NXP BV, 144A		10.000%		7/15/13		N/R			2,093,850
	3,970			Total Semiconductors & Equipment									2,933,850
				Software – 0.4% (0.2% of Total Investments)
	1,000			Telcorida Technologies, Floating Rate Note, 3.750% plus three-month LIBOR, 144A		4.766%		7/15/12		B			740,000
				Trading Companies & Distributors – 0.3% (0.2% of Total Investments)
	2,000			Penhall International Corporation, 144A		12.000%		8/01/14		CCC+			720,000
$	39,120			Total Corporate Bonds (cost $32,252,195)									25,203,350

Principal
Amount (000)				Description (1)		Coupon		Maturity				Value
				Short-Term Investments – 6.4% (4.3% of Total Investments)
$	13,278			Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/09,		0.080%		5/01/09				$	13,278,033
				repurchase price $13,278,063, collateralized by $12,505,000 U.S. Treasury
				Notes, 3.500%, due 5/31/13, value $13,544,166
				Total Short-Term Investments (cost $13,278,033)									13,278,033
				Total Investments (cost $427,567,496) – 147.3%									305,715,067
				Borrowings – (18.0)% (9)									(37,350,000	)
				Other Assets Less Liabilities – (0.4)%									(788,949	)
				Preferred Shares, at Liquidation Value – (28.9)% (9)									(60,000,000	)
				Net Assets Applicable to Common Shares – 100%								$	207,576,118

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 April 30, 2009:

		Level 1				Level 2				Level 3				Total
Investments		$	13,278,033			$	292,437,034			$	—			$	305,715,067

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 April 30, 2009, the cost of investments was $427,654,635.

Gross unrealized appreciation and gross unrealized depreciation of investments at April 30, 2009, were as follows:

Gross unrealized:
Appreciation		$	5,414,740
Depreciation			(127,354,308	)
Net unrealized appreciation (depreciation) of investments		$	(121,939,568	)

(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)		Non-income producing; denotes that the issuer has defaulted on the payment of principal or interest or has filed for bankruptcy.
(6)		At or subsequent to April 30, 2009, this issue was under the protection of the Federal Bankruptcy Court.
(7)		Position, or portion of position, represents an unfunded Senior Loan commitment outstanding at April 30, 2009. At April 30, 2009, the Fund had unfunded Senior Loan Commitments of $1,103,609.
(8)		This issue is under protection of the Federal Bankruptcy Court. As a result, the Adviser has concluded this issue is not likely to meet its interest payment obligations and has directed the Fund’s custodian to cease accruing additional income and “write-off” any remaining recorded balances on the Fund’s records.
(9)		Borrowings and Preferred Shares, at Liquidation Value as a percentage of Total Investments are 12.2% and 19.6%, respectively.
N/R		Not rated.
DD1		Portion of investment purchased on 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.

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 Opportunity Fund

Date June 29, 2009

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 June 29, 2009

Date June 29, 2009