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:    10/31/2009   

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.

 

 

Nuveen Floating Rate Income Opportunity Fund (JRO)
October 31, 2009

						Weighted
Principal						Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 113.2% (84.6% of Total Investments) (4)
				Aerospace & Defense – 1.3% (1.0% of Total Investments)
$	574			DAE Aviation Holdings, Inc., Term Loan B1		4.030%		7/31/14		B		$	540,000
	562			DAE Aviation Holdings, Inc., Term Loan B2		4.030%		7/31/14		B			528,287
	112			Hawker Beechcraft, LC Facility, WI/DD		TBD		TBD		B-			88,827
	1,888			Hawker Beechcraft, Term Loan, WI/DD		TBD		TBD		B-			1,501,173
	1,150			Transdigm, Inc., Term Loan B		2.289%		6/23/13		Ba2			1,105,848
	4,286			Total Aerospace & Defense									3,764,135
				Airlines – 2.5% (1.8% of Total Investments)
	1,000			Delta Air Lines, Inc., Credit Linked Deposit		2.284%		4/30/12		Ba2			905,625
	3,369			Delta Air Lines, Inc., Term Loan, DD1		3.534%		4/30/14		B			2,839,751
	4,532			United Air Lines, Inc., Term Loan B		2.313%		2/01/14		B+			3,572,142
	8,901			Total Airlines									7,317,518
				Auto Components – 2.2% (1.6% of Total Investments)
	5,504			Federal-Mogul Corporation, Tranche B, Term Loan		2.188%		12/29/14		Ba3			4,241,243
	2,809			Federal-Mogul Corporation, Tranche C, Term Loan		2.188%		12/28/15		Ba3			2,164,555
	8,313			Total Auto Components									6,405,798
				Automobiles – 2.5% (1.9% of Total Investments)
	8,467			Ford Motor Company, Term Loan, DD1		3.288%		12/15/13		B1			7,567,808
				Building Products – 3.6% (2.7% of Total Investments)
	1,628			Atrium Companies, Inc., Term Loan		11.750%		5/31/12		Caa3			813,926
	3,000			Building Materials Corporation of America, Term Loan, Second Lien		6.063%		9/15/14		Caa2			2,640,000
	5,839			Building Materials Corporation of America, Term Loan		3.000%		2/22/14		B+			5,406,280
	2,941			TFS Acquisition, Term Loan		14.000%		8/11/13		CCC+			1,962,873
	13,408			Total Building Products									10,823,079
				Chemicals – 3.4% (2.5% of Total Investments)
	800			Celanese US Holdings LLC, Credit Linked Deposit		0.246%		4/02/14		BB+			751,750
	524			Hercules Offshore, Inc., Term Loan		8.500%		7/11/13		B			506,403
	2,957			Hexion Specialty Chemicals, Inc., Term Loan C1		2.563%		5/05/13		B1			2,350,525
	642			Hexion Specialty Chemicals, Inc., Term Loan C2		2.563%		5/05/13		B1			510,601
	2,992			Huntsman International LLC, Term Loan		1.994%		4/19/14		Ba2			2,739,800
	1,485			Ineos US Finance LLC, Tranche B2		7.501%		12/16/13		B-			1,273,867
	1,485			Ineos US Finance LLC, Tranche C2		8.001%		12/16/14		B-			1,273,867
	12			LyondellBasell Finance Company, Dutch Revolving Line of Credit, (5)		3.744%		12/20/13		N/R			7,031
	28			LyondellBasell Finance Company, Dutch Tranche A, Term Loan, (5)		3.744%		12/20/13		N/R			16,123
	35			LyondellBasell Finance Company, German Tranche B1, Euro Term Loan, (5)		3.994%		12/22/14		N/R			20,184
	35			LyondellBasell Finance Company, German Tranche B2, Euro Term Loan, (5)		3.994%		12/20/14		N/R			20,184
	35			LyondellBasell Finance Company, German Tranche B3, Euro Term Loan, (5)		3.994%		12/22/14		N/R			20,184
	45			LyondellBasell Finance Company, Revolving Line of Credit, (5)		3.744%		12/20/13		N/R			26,365
	269			LyondellBasell Finance Company, Roll-Up DIP Term Loan, (5)		5.798%		2/03/10		N/R			255,871
	87			LyondellBasell Finance Company, US Tranche A, Term Loan, (5)		3.744%		12/20/13		N/R			50,233
	151			LyondellBasell Finance Company, US Tranche B1, Term Loan, (5)		7.000%		12/22/14		N/R			87,209
	151			LyondellBasell Finance Company, US Tranche B2, Term Loan, (5)		7.000%		12/22/14		N/R			87,209
	151			LyondellBasell Finance Company, US Tranche B3, Term Loan, (5)		7.000%		12/22/14		N/R			87,209
	11,884			Total Chemicals									10,084,615
				Commercial Services & Supplies – 1.6% (1.2% of Total Investments)
	2,188			Rental Services Corporation, Term Loan		3.817%		11/27/13		B-			1,985,213
	181			ServiceMaster Company, Delayed Term Loan		2.750%		7/24/14		B+			161,047
	1,814			ServiceMaster Company, Term Loan		2.769%		7/24/14		B+			1,617,183
	518			West Corporation, Term Loan B4		4.119%		6/30/16		BB-			488,436
	751			Workflow Holdings Corporation, Term Loan		9.500%		11/30/11		Caa1			559,606
	5,452			Total Commercial Services & Supplies									4,811,485
				Communications Equipment – 3.6% (2.7% of Total Investments)
	1,926			Aspect Software, Inc., Term Loan B		3.313%		7/11/11		B1			1,767,295
	10,473			Avaya Inc., Term Loan		3.137%		10/26/14		Ba3			9,006,871
	12,399			Total Communications Equipment									10,774,166
				Construction Materials – 0.6% (0.4% of Total Investments)
	2,000			McJunkin Red Man Holding Corporation, Term Loan		3.494%		1/31/14		B-			1,690,000
				Containers & Packaging – 0.1% (0.1% of Total Investments)
	488			Amscan Holdings, Inc., Term Loan		2.646%		5/27/13		B1			442,812
				Diversified Consumer Services – 1.0% (0.7% of Total Investments)
	913			Cengage Learning Acquisitions, Inc., Term Loan		2.740%		7/05/14		B+			794,353
	255			Laureate Education, Inc., Delayed Term Loan		3.532%		8/17/14		B1			232,882
	1,707			Laureate Education, Inc., Term Loan B		3.532%		8/17/14		B1			1,556,019
	357			West Corporation, Term Loan B2		2.619%		10/24/13		BB-			328,500
	3,232			Total Diversified Consumer Services									2,911,754
				Diversified Financial Services – 0.6% (0.4% of Total Investments)
	1,787			Fox Acquisition Sub LLC, Term Loan B		8.241%		7/14/15		B			1,632,689
				Diversified Telecommunication Services – 3.7% (2.8% of Total Investments)
	579			Intelsat, Tranche B, Term Loan A		2.746%		1/03/14		BB-			548,413
	579			Intelsat, Tranche B, Term Loan B		2.746%		1/03/14		BB-			548,245
	579			Intelsat, Tranche B, Term Loan C		2.746%		1/03/14		BB-			548,245
	1,916			Intelsat, Tranche B, Term Loan		2.746%		7/01/13		BB-			1,843,909
	2,000			Intelsat, Unsecured Term Loan		2.744%		2/01/14		B+			1,730,000
	4,533			Level 3 Financing, Inc., Term Loan		2.530%		3/13/14		B+			3,958,167
	1,900			MetroPCS Wireless, Inc., Term Loan		2.661%		11/03/13		Ba2			1,790,243
	12,086			Total Diversified Telecommunication Services									10,967,222
				Electric Utilities – 3.3% (2.5% of Total Investments)
	1,111			Calpine Corporation, DIP Revolver, (6), (7)		0.100%		3/31/14		B+			(148,148	)
	6,378			Calpine Corporation, DIP Term Loan		3.165%		3/29/14		B+			5,880,510
	3,431			TXU Corporation, Term Loan B2		3.745%		10/10/14		B+			2,667,377
	1,960			TXU Corporation, Term Loan B3		3.745%		10/10/14		B+			1,509,200
	12,880			Total Electric Utilities									9,908,939
				Electrical Equipment – 0.3% (0.2% of Total Investments)
	896			Allison Transmission Holdings, Inc., Term Loan		3.010%		8/07/14		B			806,195
				Electronic Equipment & Instruments – 0.6% (0.4% of Total Investments)
	1,935			Sensata Technologies B.V., Term Loan		2.031%		4/27/13		B			1,665,915
				Food & Staples Retailing – 0.3% (0.2% of Total Investments)
	997			U.S. Foodservice, Inc., Term Loan		2.743%		7/03/14		B2			854,482
				Food Products – 0.5% (0.4% of Total Investments)
	168			Dole Food Company, Inc., Deposit-Funded Commitment		7.345%		4/12/13		Ba2			170,392
	294			Dole Food Company, Inc., Term Loan B		7.968%		4/12/13		Ba2			297,090
	1,055			Dole Food Company, Inc., Term Loan C		8.000%		4/12/13		Ba2			1,067,053
	1,517			Total Food Products									1,534,535
				Health Care Equipment & Supplies – 0.8% (0.6% of Total Investments)
	1,404			Symbion, Inc., Term Loan A		3.493%		8/23/13		Ba3			1,247,805
	1,404			Symbion, Inc., Term Loan B		3.493%		8/25/14		Ba3			1,247,805
	2,808			Total Health Care Equipment & Supplies									2,495,610
				Health Care Providers & Services – 9.5% (7.1% of Total Investments)
	255			Community Health Systems, Inc., Delayed Term Loan		2.493%		7/25/14		BB			237,964
	4,995			Community Health Systems, Inc., Term Loan		2.610%		7/25/14		BB			4,664,554
	1,510			HCA, Inc., Term Loan A		1.783%		11/17/12		BB			1,410,364
	7,665			HCA, Inc., Term Loan		2.533%		11/18/13		BB			7,153,384
	2,580			Health Management Associates, Inc., Term Loan		2.033%		2/28/14		BB-			2,399,432
	1,260			IASIS Healthcare LLC, Delayed Term Loan		2.243%		3/14/14		Ba2			1,188,065
	340			IASIS Healthcare LLC, Letter of Credit		0.144%		3/14/14		Ba2			320,828
	2,096			IASIS Healthcare LLC, PIK Term Loan		5.531%		6/15/14		CCC+			1,875,486
	3,640			IASIS Healthcare LLC, Term Loan		2.243%		3/14/14		Ba2			3,433,057
	1,474			Select Medical Corporation, Term Loan		2.407%		2/24/12		Ba2			1,422,216
	4,410			Vanguard Health Holding Company II LLC, Replacement Term Loan		2.493%		9/23/11		Ba3			4,310,646
	30,225			Total Health Care Providers & Services									28,415,996
				Hotels, Restaurants & Leisure – 10.8% (8.1% of Total Investments)
	2,865			24 Hour Fitness Worldwide, Inc., Term Loan B		2.771%		6/08/12		Ba3			2,683,553
	110			CBRL Group, Inc., Term Loan B2		1.955%		4/26/13		BB-			105,958
	1,543			CCM Merger, Inc., Term Loan B		8.500%		7/13/12		BB-			1,471,107
	2,223			Cedar Fair LP, Extended US Term Loan		4.243%		8/30/14		BB-			2,155,942
	333			Fontainebleau Las Vegas LLC, Delayed Term Loan, (5), (8)		6.000%		6/06/14		N/R			96,667
	1,667			Fontainebleau Las Vegas LLC, Term Loan, (5), (8)		6.000%		6/06/14		N/R			483,333
	469			Isle of Capri Casinos, Inc., Delayed Term Loan A		1.993%		11/25/13		B+			441,057
	533			Isle of Capri Casinos, Inc., Delayed Term Loan B		1.993%		11/25/13		B+			501,500
	1,332			Isle of Capri Casinos, Inc., Delayed Term Loan		2.033%		11/25/13		B+			1,253,750
	4,930			Orbitz Worldwide, Inc., Term Loan		3.279%		7/25/14		B+			4,378,321
	151			OSI Restaurant Partners LLC, Revolver		2.377%		6/14/13		BB-			125,804
	1,346			OSI Restaurant Partners LLC, Term Loan		2.563%		6/14/14		B+			1,124,366
	4,237			Shingle Springs Tribal Gaming Authority, Term Loan, (6)		10.399%		12/17/13		B-			3,680,360
	1,955			Travelport LLC, Delayed Term Loan		2.781%		8/23/13		Ba3			1,782,542
	714			Travelport LLC, Letter of Credit		2.783%		8/23/13		Ba3			651,320
	3,557			Travelport LLC, Term Loan		2.781%		8/23/13		Ba3			3,246,043
	1,975			Venetian Casino Resort LLC, Delayed Term Loan		2.040%		5/23/14		B-			1,612,094
	7,820			Venetian Casino Resort LLC, Term Loan		2.040%		5/23/14		B-			6,383,075
	37,760			Total Hotels, Restaurants & Leisure									32,176,792
				Household Products – 1.2% (0.9% of Total Investments)
	183			Spectrum Brands, Inc., Synthetic Letter of Credit, DD1		1.500%		6/30/12		B-			179,555
	3,561			Spectrum Brands, Inc., Term Loan, DD1		8.000%		6/30/12		B-			3,491,611
	3,744			Total Household Products									3,671,166
				Insurance – 1.4% (1.1% of Total Investments)
	652			Affirmative Insurance Holdings, Inc., Term Loan		9.250%		1/31/14		B3			325,887
	4,287			Conseco, Inc., Term Loan		6.500%		10/10/13		Caa1			3,883,690
	4,939			Total Insurance									4,209,577
				Internet Software & Services – 1.3% (1.0% of Total Investments)
	768			Open Solutions, Inc., Term Loan B		2.405%		1/23/14		BB-			623,507
	3,887			Sabre, Inc., Term Loan		2.494%		9/30/14		B1			3,374,602
	4,655			Total Internet Software & Services									3,998,109
				IT Services – 3.5% (2.6% of Total Investments)
	913			Attachmate Corporation, Term Loan		3.533%		4/13/13		BB-			838,496
	5,180			First Data Corporation, Term Loan B2		3.036%		9/24/14		B+			4,454,708
	997			First Data Corporation, Term Loan B3		3.036%		9/24/14		B+			856,331
	333			Infor Global Solutions Intermediate Holdings, Ltd., Delayed Term Loan		4.000%		7/28/12		B+			293,494
	733			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan, First Lien		6.493%		3/02/14		CCC+			509,667
	1,267			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan, Second Lien		6.493%		3/02/14		CCC+			867,667
	637			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan		4.000%		7/28/12		B+			562,531
	2,082			SunGard Data Systems, Inc., Term Loan B		1.994%		2/28/14		BB			1,960,314
	12,142			Total IT Services									10,343,208
				Leisure Equipment & Products – 2.0% (1.5% of Total Investments)
	7,283			Bombardier Recreational Products, Inc., Term Loan		3.000%		6/28/13		Caa1			5,116,520
	3,000			Wimar OpCo LLC, Term Loan, (5), (8)		6.500%		1/03/12		N/R			958,749
	10,283			Total Leisure Equipment & Products									6,075,269
				Machinery – 0.9% (0.7% of Total Investments)
	1,464			Oshkosh Truck Corporation, Term Loan		6.316%		12/06/13		BB-			1,464,551
	274			Rexnord Corporation, Incremental Term Loan		2.500%		7/19/13		BB-			263,093
	934			Rexnord Corporation, Term Loan		2.786%		7/19/13		BB-			900,164
	2,672			Total Machinery									2,627,808
				Media – 19.9% (14.8% of Total Investments)
	983			CanWest Mediaworks LP, Term Loan		4.250%		7/10/15		Caa3			790,912
	2,870			Cequel Communications LLC, Term Loan B		2.244%		11/05/13		BB-			2,748,173
	3,000			Charter Communications Operating Holdings LLC, Holdco Term Loan		6.750%		3/06/14		Ba2			2,596,500
	9,151			Charter Communications Operating Holdings LLC, Term Loan		6.250%		3/06/14		Ba2			8,343,690
	2,000			Citadel Broadcasting Corporation, Term Loan, WI/DD, (13)		TBD		TBD		CCC-			1,377,500
	861			Cumulus Media, Inc., Term Loan		4.245%		6/11/14		B			709,571
	997			Gray Television, Inc., Term Loan B		6.790%		12/31/14		Caa1			859,688
	2,928			HIT Entertainment, Inc., Term Loan B		2.730%		3/20/12		B1			2,565,779
	2,000			HIT Entertainment, Inc., Term Loan		5.980%		2/26/13		CCC			1,085,000
	4,757			Idearc, Inc., Term Loan, (5), (8)		4.250%		11/17/14		D			2,175,384
	5,820			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		20.500%		4/08/12		N/R			3,349,138
	5,872			Metro-Goldwyn-Mayer Studios, Inc., Term Loan		20.500%		4/08/12		N/R			3,379,397
	3,038			NextMedia Operating, Inc., Term Loan, Second Lien		11.250%		11/15/13		CC			865,885
	1,472			Nielsen Finance LLC, Term Loan A		2.244%		8/09/13		Ba3			1,373,451
	3,065			Nielsen Finance LLC, Term Loan B		3.999%		5/02/16		Ba3			2,883,834
	3,667			Philadelphia Newspapers, Term Loan A, (5), (8)		16.500%		6/29/12		N/R			275,060
	544			Reader’s Digest Association, Inc., DIP Term Loan		13.500%		3/01/14		N/R			566,515
	134			Reader’s Digest Association, Inc., Euro Term Loan		7.000%		3/03/14		N/R			65,838
	373			Reader’s Digest Association, Inc., Revolving Credit Loan		4.397%		3/02/13		D			183,113
	1,500			Reader’s Digest Association, Inc., U.S. Term Loan		4.245%		3/03/14		D			737,421
	3,629			SFX Entertainment, Inc., Term Loan		3.513%		6/21/13		Ba3			3,356,389
	995			Spanish Broadcasting System, Inc., Term Loan B		2.040%		6/10/12		CCC+			825,677
	11,807			Tribune Company, Term Loan B, DD1, (5), (8)		5.250%		6/04/14		Ca			5,593,779
	1,365			Tribune Company, Term Loan X, (5), (8)		5.000%		6/04/09		Ca			636,017
	11,000			Univision Communications, Inc., Term Loan		2.533%		9/29/14		B2			8,894,281
	4,025			Yell Group PLC, Term Loan		3.283%		10/29/12		B			2,898,000
	87,853			Total Media									59,135,992
				Metals & Mining – 1.9% (1.5% of Total Investments)
	502			Aleris International, Inc., DIP Term Loan, (5)		13.000%		2/12/10		N/R			526,481
	1,160			Amsted Industries, Inc., Delayed Term Loan		2.480%		4/05/13		BB			1,063,911
	1,597			Amsted Industries, Inc., Term Loan		2.290%		4/05/13		BB			1,465,577
	1,990			Essar Steel Algoma Inc., Term Loan		8.000%		6/20/13		B+			1,878,724
	939			John Maneely Company, Term Loan		3.511%		12/08/13		B			862,742
	6,188			Total Metals & Mining									5,797,435
				Multiline Retail – 0.3% (0.2% of Total Investments)
	984			Neiman Marcus Group, Inc., Term Loan		2.292%		4/06/13		BB-			846,187
				Oil, Gas & Consumable Fuels – 4.1% (3.1% of Total Investments)
	1,716			ATP Oil and Gas Corporation, Tranche B1, Term Loan, WI/DD		TBD		TBD		NA			1,675,591
	284			ATP Oil and Gas Corporation, Tranche B2, Term Loan, WI/DD		TBD		TBD		NA			277,267
	415			Big West Oil LLC, Delayed Term Loan, WI/DD		TBD		TBD		Ca			402,369
	330			Big West Oil LLC, Term Loan, WI/DD		TBD		TBD		Ca			320,066
	575			Calumet Lubricants Company LP, Credit Linked Deposit		4.134%		1/03/15		B1			514,727
	4,278			Calumet Lubricants Company LP, Term Loan		4.429%		1/03/15		B1			3,831,603
	2,962			CCS Income Trust, Term Loan		3.243%		11/14/14		B			2,492,045
	3,000			Venoco, Inc., Term Loan		4.250%		5/07/14		BB-			2,703,750
	13,560			Total Oil, Gas & Consumable Fuels									12,217,418
				Paper & Forest Products – 1.1% (0.8% of Total Investments)
	3,920			Wilton Products, Term Loan		3.500%		11/16/14		B+			3,234,000
				Pharmaceuticals – 1.5% (1.1% of Total Investments)
	1,000			Graceway Pharmaceuticals LLC, Second Lien Term Loan		6.743%		5/03/13		B-			342,500
	1,383			Graceway Pharmaceuticals LLC, Term Loan		2.993%		5/03/12		BB			974,838
	356			Warner Chilcott Corporation, Delayed Term Loan, WI/DD		TBD		TBD		BB+			357,072
	1,017			Warner Chilcott Corporation, Tranche A, Term Loan, WI/DD		TBD		TBD		BB+			1,020,206
	1,627			Warner Chilcott Corporation, Tranche B, Term Loan, WI/DD		TBD		TBD		BB+			1,632,330
	5,383			Total Pharmaceuticals									4,326,946
				Real Estate Investment Trust – 0.8% (0.6% of Total Investments)
	1,000			Tishman Speyer Real Estate, L.P., Term Loan, (8)		4.000%		1/09/13		D			602,500
	1,838			Tishman Speyer Real Estate, Liquidation Facility		10.250%		12/01/09		N/R			1,842,094
	2,838			Total Real Estate Investment Trust									2,444,594
				Real Estate Management & Development – 5.1% (3.8% of Total Investments)
	5,381			Capital Automotive LP, Tranche C		2.750%		12/14/12		Ba1			4,815,801
	7,891			LNR Property Corporation, Term Loan B		3.750%		7/12/11		B-			6,273,273
	4,888			Realogy Corporation, Delayed Term Loan		3.286%		10/10/13		Caa1			4,109,200
	18,160			Total Real Estate Management & Development									15,198,274
				Road & Rail – 4.7% (3.5% of Total Investments)
	1,989			Avis Budget Car Rental, LLC Term Loan		4.040%		4/19/12		Ba3			1,876,637
	290			Hertz Corporation, Letter of Credit		2.042%		12/21/12		Ba1			271,015
	1,578			Hertz Corporation, Term Loan		2.004%		12/21/12		Ba1			1,476,464
	12,140			Swift Transportation Company, Inc., Term Loan		3.563%		5/10/14		B-			10,488,941
	15,997			Total Road & Rail									14,113,057
				Semiconductors & Equipment – 0.4% (0.3% of Total Investments)
	1,498			Freescale Semiconductor, Inc., Term Loan		1.996%		12/01/13		B2			1,221,248
				Software – 3.8% (2.9% of Total Investments)
	4,000			Dealer Computer Services, Inc., Term Loan, Second Lien		5.743%		10/26/13		B			3,246,668
	5,825			Dealer Computer Services, Inc., Term Loan		2.243%		10/26/12		BB			5,231,907
	3,436			IPC Systems, Inc., Term Loan		2.517%		5/31/14		B1			2,937,579
	13,261			Total Software									11,416,154
				Specialty Retail – 4.9% (3.7% of Total Investments)
	4,930			Burlington Coat Factory Warehouse Corporation, Term Loan, DD1		2.565%		5/28/13		B3			4,525,530
	2,985			Claire’s Stores, Inc. Term Loan B		3.033%		5/29/14		B-			2,354,208
	3,192			Michaels Stores, Inc., Term Loan		2.519%		10/31/13		B			2,866,262
	4,985			Toys “R” Us – Delaware, Inc., Term Loan B		4.494%		7/19/12		BB-			4,854,215
	16,092			Total Specialty Retail									14,600,215
				Wireless Telecommunication Services – 1.6% (1.2% of Total Investments)
	5,000			Asurion Corporation, Term Loan		3.245%		7/03/14		N/R			4,754,860
$	410,890			Total Variable Rate Senior Loan Interests (cost $373,820,466)									337,283,062

Shares

Description (1)

Value

Common Stocks – 1.6% (1.2% of Total Investments)

Building Products – 1.6% (1.2% of Total Investments)

124,402

Masonite Worldwide Holdings, (9), (12)

$

4,789,477

Total Common Stocks (cost $6,806,491)

4,789,477

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Convertible Bonds – 2.6% (2.0% of Total Investments)
				Food & Staples Retailing – 0.9% (0.7% of Total Investments)
$	2,747			Great Atlantic & Pacific Tea Company Inc.		5.125%		6/15/11		Caa1		$	2,630,253
				Real Estate Investment Trust – 0.4% (0.3% of Total Investments)
	1,500			MPT Operating Partnership Limited Partnership, 144A		6.125%		11/15/11		N/A			1,413,750
				Semiconductors & Equipment – 1.3% (1.0% of Total Investments)
	4,500			Advanced Micro Devices, Inc.		5.750%		8/15/12		B-			3,813,750
$	8,747			Total Convertible Bonds (cost $5,694,481)									7,857,753

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Corporate Bonds – 11.9% (8.9% of Total Investments)
				Auto Components – 0.2% (0.1% of Total Investments)
$	600			Exide Technologies		10.500%		3/15/13		B-		$	600,000
				Building Products – 0.6% (0.4% of Total Investments)
	1,750			Ply Gem Industries Inc.		11.750%		6/15/13		Caa1			1,649,375
				Diversified Telecommunication Services – 0.6% (0.5% of Total Investments)
	2,000			Intelsat Limited		7.625%		4/15/12		CCC+			1,950,000
				Electric Utilities – 0.5% (0.3% of Total Investments)
	2,000			Texas Competitive Electric Holdings, Series A		10.250%		11/01/15		Caa2			1,430,000
				Health Care Equipment & Supplies – 0.7% (0.5% of Total Investments)
	1,500			Reable Therapeutics Financing Corporation		11.750%		11/15/14		CCC+			1,507,500
	500			Select Medical Corporation		7.625%		2/01/15		B3			473,750
	2,000			Total Health Care Equipment & Supplies									1,981,250
				Health Care Providers & Services – 2.0% (1.5% of Total Investments)
	1,000			LifeCare Holdings Inc.		9.250%		8/15/13		CCC-			530,000
	5,000			Select Medical Corporation, Floating Rate Note, 5.750% plus six-month LIBOR		6.314%		9/15/15		Caa1			4,487,500
	1,000			US Oncology Holdings Inc., Floating Rate Note, 5.000% plus six-month LIBOR		5.564%		3/15/12		CCC+			885,000
	7,000			Total Health Care Providers & Services									5,902,500
				Hotels, Restaurants & Leisure – 1.1% (0.8% of Total Investments)
	4,000			Quapaw Tribe of Oklahoma Downstream Development Authority, 144A		12.000%		10/15/15		B-			3,260,000
				Internet Software & Services – 0.6% (0.5% of Total Investments)
	2,750			Open Solutions Inc., 144A		9.750%		2/01/15		CCC+			1,856,250
				Metals & Mining – 0.2% (0.2% of Total Investments)
	750			Algoma Acquisition Corporation, 144A		9.875%		6/15/15		CCC+			645,000
				Oil, Gas & Consumable Fuels – 1.6% (1.2% of Total Investments)
	1,000			SemGroup LP, 144A, (10)		8.750%		11/15/15		N/R			65,000
	3,000			Western Refining Inc., Floating Rate Note, 7.500% plus three-month LIBOR, 144A		7.781%		6/15/14		BB-			2,790,000
	2,000			Western Refining Inc., 144A		11.250%		6/15/17		BB-			1,860,000
	6,000			Total Oil, Gas & Consumable Fuels									4,715,000
				Semiconductors & Equipment – 1.7% (1.3% of Total Investments)
	1,000			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR		5.781%		6/01/13		N/R			988,750
	2,970			NXP BV, 144A		10.000%		7/15/13		B-			2,977,425
	1,000			Spansion LLC, Floating Rate Note, 3.125% plus three-month LIBOR, 144A, (11)		3.406%		6/01/13		D			1,055,000
	4,970			Total Semiconductors & Equipment									5,021,175
				Software – 1.1% (0.8% of Total Investments)
	2,950			Telcordia Technologies, Inc., 144A		10.000%		3/15/13		CCC+			2,500,125
	1,000			Telcordia Technologies, Floating Rate Note, 3.750% plus three-month LIBOR, 144A		4.031%		7/15/12		B			870,000
	3,950			Total Software									3,370,125
				Trading Companies & Distributors – 0.4% (0.3% of Total Investments)
	2,000			Penhall International Corporation, 144A		12.000%		8/01/14		CCC			1,140,000
				Wireless Telecommunication Services – 0.6% (0.5% of Total Investments)
	2,000			Sprint Nextel Corporation		8.375%		8/15/17		BB			1,940,000
$	41,770			Total Corporate Bonds (cost $33,999,420)									35,460,675

Principal
Amount (000)				Description (1)		Coupon		Maturity				Value
				Short-Term Investments – 4.5% (3.3% of Total Investments)
$	13,260			Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/30/09, repurchase price $13,259,936 collateralized by $12,620,000 U.S. Treasury Notes, 4.500%, due 9/30/11, value $13,528,640		0.010%		11/02/09				$	13,259,925
				Total Short-Term Investments (cost $13,259,925)									13,259,925
				Total Investments (cost $433,580,783) – 133.8%									398,650,892
				Borrowings – (12.5)% (14)									(37,350,000	)
				Other Assets Less Liabilities – (1.2)%									(3,265,165	)
				Preferred Shares, at Liquidation Value – (20.1)% (14)									(60,000,000	)
				Net Assets Applicable to Common Shares – 100%								$	298,035,727

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, 2009:

		Level 1				Level 2				Level 3				Total
Investments:
Variable Rate Senior Loan Interests	$	—			$	337,283,062			$	—			$	337,283,062
Common Stocks*		—				4,789,477				—				4,789,477
Convertible Bonds		—				7,857,753				—				7,857,753
Corporate Bonds		—				35,460,675				—				35,460,675
Short-Term Investments		13,259,925				—				—				13,259,925
Total	$	13,259,925			$	385,390,967			$	—			$	398,650,892

* Refer to the Fund's Portfolio of Investments for industry breakdown of Common Stocks classified as Level 2.

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, 2009, the cost of investments was $433,598,524.

Gross unrealized appreciation and gross unrealized depreciation of investments at October 31, 2009, were as follows:

Gross unrealized:
Appreciation		$	16,192,400
Depreciation			(51,140,032	)
Net unrealized appreciation (depreciation) of investments		$	(34,947,632	)

(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)		At or subsequent to October 31, 2009, 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, 2009. At October 31, 2009, the Fund had unfunded Senior Loan Commitments of $1,155,927.
(7)		Negative value represents unrealized depreciation on unfunded Senior Loan commitment outstanding at October 31, 2009.
(8)		Non-income producing; denotes that the issuer has defaulted on the payment of principal or interest or has filed for bankruptcy.
(9)		Non-income producing; issuer has not declared a dividend within the past twelve months.
(10)		This issue is under protection of the Federal Bankruptcy Court. As a result, the Fund’s 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.
(11)		This issue is under protection of the Federal Bankruptcy Court (the “Bankruptcy Court”). As a result, the Fund’s Adviser concluded that the issuer was not likely to meet its future interest payment obligations and directed the Fund’s custodian to cease accruing additional income and “write-off” any remaining recorded balances on the Fund’s records. On July 1, 2009, the Fund received its June 1, 2009, interest payment and subsequently received its September 1, 2009, interest payment as directed by the Bankruptcy Court’s Final Order. As of September 2, 2009, the Fund ceased accruing additional income on this issue.
(12)		For fair value measurement disclosure purposes, investment categorized as Level 2.
(13)		Subsequent to the reporting period, this issue is under protection of the Federal Bankruptcy Court. As a result, the Fund’s Adviser has concluded this issue is not likely to meet its interest payment obligations and has directed the Fund’s custodian to lease accruing additional income and “write off” any remaining recorded balances on the Fund’s records.
(14)		Borrowings and Preferred Shares, at Liquidation Value as a percentage of Total Investments are 9.4% and 15.1% respectively.
N/A		Not available.
N/R		Not rated.
WI/DD		Purchased on a when-issued or delayed delivery basis.
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.

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 December 30, 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 December 30, 2009

Date December 30, 2009