Edgar Filing: NUVEEN FLOATING RATE INCOME FUND

nvq

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)

Jessica R. Droeger—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: 4/30/06

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.

TABLE OF CONTENTS


	Item 1. Schedule of Investments
	Item 2. Controls and Procedures
	Item 3. Exhibits
SIGNATURES
Certification

Item 1. Schedule of Investments


	Portfolio of Investments (Unaudited) Nuveen Floating Rate Income Fund (JFR) April 30, 2006


			Weighted
Principal			Average
Amount (000)		Description (1)	Coupon		Maturity (3)		Ratings (4)		Value


		Variable Rate Senior Loan Interests - 141.7% (87.3% of Total Investments) (2)

		Aerospace & Defense - 1.4% (0.8% of Total Investments)

$	5,955	Mid-Western Aircraft Systems Inc., Term Loan B		7.318%		12/31/11		B1	$	6,058,284
	2,426	Vought Aircraft Industries, Inc., Term Loan		7.500%		12/22/11		B+		2,451,063
	545	Vought Aircraft Industries, Inc., Tranche B, Letter of Credit		7.329%		12/22/10		B+		552,955

	8,926	Total Aerospace & Defense								9,062,302


		Airlines - 1.8% (1.1% of Total Investments)

	1,500	United Air Lines, Delayed Term Loan, (5)		8.750%		2/01/12		B+		1,524,000
	10,500	United Air Lines, Term Loan B, (5)		8.625%		2/12/12		B+		10,668,000

	12,000	Total Airlines								12,192,000


		Auto Components - 4.8% (2.9% of Total Investments)

	5,277	Accuride Corporation, Term Loan		6.938%		1/31/12		B+		5,349,605
	17,662	Federal-Mogul Corporation, Term Loan A, (5)		7.250%		2/24/04		N/R		17,382,358
	2,000	Federal-Mogul Corporation, Term Loan B, (5)		7.500%		2/24/05		N/R		1,973,750
	6,000	Goodyear Tire & Rubber Company, Second Lien Term Loan		7.954%		4/30/10		B2		6,091,875
	1,000	Goodyear Tire & Rubber Company, Term Loan		3.764%		4/30/10		B3		1,010,179

	31,939	Total Auto Components								31,807,767


		Beverages - 1.7% (1.0% of Total Investments)

	2,348	Constellation Brands, Inc., Term Loan		6.361%		11/30/11	BB			2,368,441
	8,685	Dr Pepper/Seven Up Bottling Group, Inc., Term Loan B		6.929%		12/19/10		N/R		8,758,442

	11,033	Total Beverages								11,126,883


		Building Products - 5.1% (3.2% of Total Investments)

	14,775	Nortek, Inc., Term Loan B		6.695%		8/27/11		B		14,911,211
	4,434	PP Holding Corporation, Term Loan		7.980%		11/12/11		B		4,489,890
	7,419	Stile Acquisition Corporation, Canadian Term Loan		7.106%		4/08/13		B2		7,376,951
	7,431	Stile Acquisition Corporation, Term Loan B		7.106%		4/08/13		B2		7,389,518

	34,059	Total Building Products								34,167,570


		Capital Markets - 1.7% (1.0% of Total Investments)

	11,000	Ameritrade Holdings Corporation, Term Loan		6.490%		12/31/12	BB			11,056,375


		Chemicals - 9.4% (5.8% of Total Investments)

	7,610	Celanese Holdings LLC, Term Loan C		6.979%		4/06/11		B+		7,732,588
	1,298	Headwaters Inc., Term Loan B		7.330%		4/30/11		B1		1,309,769
	12,742	Hercules Inc., Term Loan		6.526%		10/08/10	BB			12,875,857
	10,766	Huntsman International LLC, Term Loan		6.679%		8/16/12	BB-			10,840,116
	4,000	Ineos Group Holdings PLC, Term Loan B		7.339%		12/16/13		B+		4,061,256
	4,000	Ineos Group Holdings PLC, Term Loan C		7.839%		12/16/14		B-		4,061,256
	1,028	JohnsonDiversey Inc., Term Loan		7.207%		12/16/11		B+		1,044,616
	7,860	Lyondell Citgo Refining LP, Term Loan		6.979%		5/21/07		N/R		7,918,950
	12,870	Rockwood Specialties Group, Inc., Term Loan E		7.126%		7/30/12		B+		13,048,977

	62,174	Total Chemicals								62,893,385


		Commercial Services & Supplies - 4.8% (3.0% of Total Investments)

	4,321	Allied Waste North America, Inc., Letter of Credit		5.750%		3/21/12		B1		4,341,105
	11,130	Allied Waste North America, Inc., Term Loan B		6.759%		1/15/12		B1		11,185,278
	6,878	National Equipment Services, Inc., Term Loan		10.498%		8/17/10		B3		6,972,066
	5,500	Williams Scotsman, Inc., Term Loan B		7.126%		6/28/10		B2		5,551,563
	1,975	Workflow Management, Inc., Term Loan		9.126%		11/30/11		B2		1,979,938
	1,956	Xerium Technologies Inc. Term Loan B		7.229%		5/18/12		B+		1,958,888

	31,760	Total Commercial Services & Supplies								31,988,838


		Containers & Packaging - 6.0% (3.7% of Total Investments)

	2,000	Amscan Holdings Inc., Term Loan B		7.700%		12/23/12		B+		2,020,417
	4,922	BWAY Corporation, Term Loan B		6.813%		1/30/11		B+		4,993,027
	17,775	Graham Packaging Company, L.P., Term Loan B		7.108%		10/07/11		B		17,999,036
	3,571	Graham Packaging Company, L.P., Term Loan C		9.250%		3/15/12	CCC+			3,662,946
	3,364	Owens-Illinois Group, Inc., Term Loan B, DD1		6.710%		4/01/08		N/R		3,376,201
	699	Smurfit-Stone Container Corporation, Deposit-Funded Commitment		2.350%		11/01/11		B+		708,814
	5,001	Smurfit-Stone Container Corporation, Term Loan B		7.193%		11/01/11		B+		5,072,693
	1,697	Smurfit-Stone Container Corporation, Term Loan C		7.125%		11/01/11		B+		1,720,879
	532	Smurfit-Stone Container Corporation, Tranche C-1		7.125%		11/01/11		B+		540,010

	39,561	Total Containers & Packaging								40,094,023


		Diversified Financial Services - 0.6% (0.4% of Total Investments)

	3,960	EPCO Holdings Inc., Term Loan B		7.095%		8/18/10		B+		4,015,379


		Diversified Telecommunication Services - 2.0% (1.2% of Total Investments)

	3,950	Intelsat, Ltd., Term Loan B		6.750%		7/06/11		B		3,988,268
	2,000	Madison River Capital LLC, Term Loan		7.260%		7/29/12		B+		2,025,313
	5,500	Qwest Corporation, Term Loan B		6.950%		6/30/10	Ba3			5,603,697
	1,450	Valor Telecommunications Enterprises, LLC, Term Loan		6.763%		2/14/12	BB-			1,455,049

	12,900	Total Diversified Telecommunication Services								13,072,327


		Electric Utilities - 1.2% (0.7% of Total Investments)

	7,689	Allegheny Energy Supply Company, LLC, Term Loan C		6.342%		3/08/11	Ba2			7,713,624


		Electrical Equipment - 1.2% (0.7% of Total Investments)

	7,960	Mueller Group, Inc., Term Loan		7.263%		10/03/12		B+		8,077,266


		Electronic Equipment & Instruments - 0.2% (0.1% of Total Investments)

	1,000	Sensata Technologies B.V., Term Loan, WI/DD	TBD		TBD			B1		1,006,719


		Energy Equipment & Services - 0.3% (0.2% of Total Investments)

	1,995	Petroleum Geo-Services, Term Loan		7.480%		12/15/12		B+		2,018,067


		Food & Staples Retailing - 2.1% (1.3% of Total Investments)

	3,000	Dunkin’ Donuts Inc., Term Loan B		7.326%		3/01/13		B2		3,006,750
	10,587	Jean Coutu Group, Inc., Term Loan B		7.625%		7/30/11		B2		10,696,071

	13,587	Total Food & Staples Retailing								13,702,821


		Food Products - 1.5% (0.9% of Total Investments)

	465	Dole Foods Company Inc., Deposit-Funded Commitment		4.920%		4/12/13	BB-			465,795
	1,047	Dole Foods Company Inc., Term Loan B		6.808%		4/12/13	BB-			1,048,038
	3,488	Dole Foods Company Inc., Term Loan C		6.724%		4/12/13		B+		3,493,460
	5,000	Dole Holding Company, LLC, Term Loan		9.938%		7/21/10		B3		5,159,375

	10,000	Total Food Products								10,166,668


		Health Care Equipment & Supplies - 0.7% (0.4% of Total Investments)

	4,539	Kinetic Concepts Inc., Term Loan B-2		6.730%		8/11/10	Ba3			4,596,500


		Health Care Providers & Services - 9.7% (6.0% of Total Investments)

	14,507	Davita Inc., Term Loan B		6.933%		10/05/12		B1		14,682,384
	11,000	Fresenius Medical Care AG & Co. KGaA, Term Loan		6.384%		3/31/13	BB			11,022,919
	4,000	HealthSouth Corporation, Term Loan		8.150%		3/10/13		B2		4,048,928
	13,754	IASIS Healthcare LLC, Term Loan B		7.264%		6/22/11		B+		13,951,309
	3,980	LifeCare Holdings Inc., Term Loan B		7.070%		8/11/12		B		3,786,805
	1,042	LifePoint Hospitals Holdings, Inc., Term Loan B		6.185%		4/15/12	Ba3			1,048,854
	2,970	Select Medical Corporation, Term Loan		6.524%		2/24/12		B1		2,948,549
	12,868	Vanguard Health Holding Company, LLC, Replacement Term Loan		6.950%		9/23/11		B		13,046,866

	64,121	Total Health Care Providers & Services								64,536,614


		Hotels, Restaurants & Leisure - 10.9% (6.7% of Total Investments)

	8,000	24 Hour Fitness Worldwide, Inc., Term Loan B		7.850%		6/08/12		B		8,113,336
	3,181	Ameristar Casinos, Inc., Term Loan B		6.500%		10/06/12	Ba3			3,211,062
	5,895	Boyd Gaming Corporation, Term Loan B		6.545%		6/30/11	BB			5,961,932
	2,000	Burger King Corporation, Term Loan B, WI/DD	TBD		TBD			B+		2,009,821
	2,940	Jack in the Box Inc., Term Loan		6.519%		1/08/11	BB			2,972,311
	14,465	OpBiz, LLC, Term Loan A		7.990%		8/31/10		B-		14,175,490
	38	OpBiz, LLC, Term Loan B (PIK)		8.990%		8/31/10		B-		37,286
	7,955	Penn National Gaming, Inc., Term Loan B		6.662%		10/03/12	BB			8,068,125
	8,048	Resorts International Hotel and Casino Inc., Term Loan B		8.980%		4/26/12	CCC+			8,150,024
	9,800	Universal City Development Partners, Ltd., Term Loan		6.942%		6/09/11	BB-			9,924,543
	1,709	Venetian Casino Resort, LLC, Delayed Draw Term Loan		6.730%		6/15/11	BB-			1,729,568
	8,291	Venetian Casino Resort, LLC, Term Loan		6.730%		6/15/11	BB-			8,388,402

	72,322	Total Hotels, Restaurants & Leisure								72,741,900


		Household Durables - 2.2% (1.3% of Total Investments)

	14,408	Sealy Mattress Company, Term Loan D		6.623%		4/06/12		B+		14,595,265


		Household Products - 1.5% (0.9% of Total Investments)

	8,803	Prestige Brands, Inc., Term Loan B		7.190%		4/06/11		B+		8,922,010
	1,122	Prestige Brands, Inc., Term Loan B2		7.190%		4/06/11		B+		1,137,069

	9,925	Total Household Products								10,059,079


		Independent Power Producers & Energy Traders - 0.4% (0.3% of Total Investments)

	1,561	Covanta Energy Corporation, Letter of Credit		7.960%		6/24/12		B+		1,585,366
	1,119	Covanta Energy Corporation, Term Loan B		7.961%		6/24/12		B-		1,136,076

	2,680	Total Independent Power Producers & Energy Traders								2,721,442


		Industrial Conglomerates - 0.1% (0.1% of Total Investments)

	724	Walter Industries Inc., Term Loan B		6.889%		10/03/12		B+		733,496


		Insurance - 2.5% (1.6% of Total Investments)

	16,813	Conseco, Inc., Term Loan		6.651%		6/22/10	BB-			16,966,962


		IT Services - 5.8% (3.6% of Total Investments)

	17,453	Fidelity National Information Services, Term Loan B		6.602%		3/09/13	BB+			17,585,334
	20,850	SunGard Data Systems Inc., Term Loan B		7.215%		2/11/13		B+		21,116,175

	38,303	Total IT Services								38,701,509


		Leisure Equipment & Products - 0.2% (0.1% of Total Investments)

	993	Mega Bloks, Term Loan B		6.911%		7/26/12	BB-			1,001,805


		Machinery - 0.5% (0.3% of Total Investments)

	1,141	Dresser-Rand Group, Inc., Term Loan		6.924%		10/10/10		B+		1,160,207
	2,226	Terex Corporation, Term Loan B		7.259%		7/03/09		B2		2,256,938

	3,367	Total Machinery								3,417,145


		Marine - 0.7% (0.5% of Total Investments)

	4,913	Horizon Lines, LLC, Term Loan		7.170%		7/11/11		B		4,980,047


		Media - 32.9% (20.4% of Total Investments)

	1,995	AMC Entertainment Inc., Term Loan		7.114%		1/26/13		B+		2,017,444
	2,000	American Media Operations, Inc., Term Loan		8.120%		1/30/13		B		2,025,750
	1,837	Blockbuster, Inc., Term Loan B		8.732%		8/20/11		B-		1,839,463
	10,000	Cablevision Systems Corporation, Incremental Term Loan		6.664%		3/24/13	Ba3			10,055,205
	17,000	Century Cable Holdings, LLC, Discretionary Term Loan, (5)		8.750%		12/31/09		N/R		16,609,000
	7,000	Century Cable Holdings, LLC, Revolver, (5)		8.750%		10/25/10		N/R		6,778,335
	2,000	Century Cable Holdings, LLC, Term Loan, (5)		9.750%		6/30/09		N/R		1,956,458
	2,000	Century Theatres Inc., Term Loan		6.695%		2/22/13		B+		2,022,500
	26,798	Charter Communications Inc., Term Loan, WI/DD	TBD		TBD			B		26,940,903
	6,983	Clear Channel Entertainment, Term Loan		7.230%		6/20/13		B+		7,013,048
	2,196	Dex Media East LLC, Term Loan B		6.340%		11/10/08	BB			2,207,811
	8,423	Dex Media West, LLC, Term Loan B		6.415%		3/09/10	BB			8,473,770
	4,667	DirecTV Group, Term Loan B		6.423%		4/13/13	BB			4,711,511
	6,899	Emmis Operating Company, Term Loan		6.718%		11/10/11		B+		6,952,005
	995	Entravision Communications Corporation, Term Loan B		6.490%		3/21/13		B+		1,003,188
	25,000	Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		7.229%		4/08/12		B+		25,304,688
	16,765	Panamsat Corporation, Term Loan B-1		6.900%		8/20/11	Ba3			16,977,377
	6,468	Primedia Inc., Term Loan		7.090%		9/30/13		N/R		6,413,603
	4,315	R. H. Donnelley Inc., Tranche D		6.441%		6/30/11	Ba3			4,338,278
	4,950	Rainbow Media Holdings LLC, Term Loan		7.563%		3/31/12	Ba3			5,012,390
	16,437	Regal Cinemas Corporation, Term Loan		6.479%		11/10/10	BB-			16,563,665
	990	Spanish Broadcasting System Inc., Term Loan B		6.730%		6/10/12		B+		1,000,519
	5,500	UPC Broadband Holding BV, Term Loan J2, WI/DD	TBD		TBD			B		5,549,269
	5,500	UPC Broadband Holding BV, Term Loan K2, WI/DD	TBD		TBD			B		5,549,269
	11,000	UPC Financing Partnership, Term Loan H2		7.330%		9/30/12		B		11,071,044
	20,551	WMG Acquisition Corp., Term Loan		6.805%		2/28/11		B+		20,785,257

	218,269	Total Media								219,171,750



		Metals & Mining - 2.4% (1.5% of Total Investments)

	2,775	Amsted Industries Incorporated, Delayed Draw Term Loan, (6) (7)		2.000%		4/05/11		B1	(3,469	)
	3,885	Amsted Industries Incorporated, Term Loan B		7.002%		4/05/13		B1	3,940,601
	11,761	Foundation Coal Corporation, Term Loan B		6.620%		7/30/11	BB-		11,956,159

	18,421	Total Metals & Mining							15,893,291


		Multiline Retail - 1.8% (1.1% of Total Investments)

	9,494	Neiman Marcus Group Inc., Term Loan		7.340%		3/28/13		B+	9,635,226
	2,500	Sears Canada Inc., Term Loan		6.712%		12/15/12	BB+		2,531,250

	11,994	Total Multiline Retail							12,166,476


		Multi-Utilities - 2.0% (1.2% of Total Investments)

	2,414	NRG Energy Inc., Credit-Linked Deposit		6.979%		2/01/13	BB-		2,442,658
	10,586	NRG Energy Inc., Term Loan		6.820%		2/01/13	BB-		10,713,559

	13,000	Total Multi-Utilities							13,156,217


		Oil, Gas & Consumable Fuels - 3.2% (2.0% of Total Investments)

	2,993	Citgo Petroleum Corporation, Term Loan		6.213%		11/15/12	Ba1		3,004,096
	800	Coffeyville Resources LLC, Letter of Credit		7.400%		7/08/11		B1	812,250
	1,191	Coffeyville Resources LLC, Term Loan B		7.503%		7/08/12		B1	1,209,260
	3,980	Complete Production Services, Term Loan		7.660%		9/12/12		B	4,033,483
	1,875	El Paso Corporation, Deposit-Funded Commitment		4.290%		11/23/09		B3	1,896,875
	7,994	El Paso Corporation, Term Loan		7.750%		11/23/09		B3	8,093,419
	484	Targa Resources Inc., Synthetic Letter of Credit		7.229%		10/31/12		B+	490,171
	2,006	Targa Resources Inc., Term Loan B		7.260%		10/31/12		B+	2,032,169

	21,323	Total Oil, Gas & Consumable Fuels							21,571,723


		Paper & Forest Products - 3.9% (2.4% of Total Investments)

	4,326	Boise Cascade Holdings, LLC, Term Loan D		6.750%		3/29/11	Ba3		4,385,967
	11,970	Georgia-Pacific Corporation, Term Loan B		6.885%		12/20/12	BB-		12,050,420
	6,000	Georgia-Pacific Corporation, Term Loan C		7.939%		12/23/13		B+	6,137,307
	2,568	NewPage Corporation, Term Loan B		7.960%		5/02/11		B	2,577,842
	1,000	White Birch Paper Company, Second Lien Term Loan		12.480%		3/31/13	CCC+		1,001,875

	25,864	Total Paper & Forest Products							26,153,411


		Pharmaceuticals - 1.9% (1.2% of Total Investments)

	4,950	Talecris Biotherapeutics Inc., Term Loan B		8.022%		3/31/10		N/R	4,974,750
	169	Warner Chilcott Corporation, Dovobet Delayed Draw		7.190%		1/18/12		B	170,425
	845	Warner Chilcott Corporation, Dovonex Delayed Draw		7.400%		1/18/12		B	851,885
	4,045	Warner Chilcott Corporation, Tranche B		7.552%		1/18/12		B	4,078,165
	1,630	Warner Chilcott Corporation, Tranche C		7.860%		1/18/12		B	1,643,301
	751	Warner Chilcott Corporation, Tranche D		7.860%		1/18/12		B	759,159

	12,390	Total Pharmaceuticals							12,477,685


		Real Estate Management & Development - 7.4% (4.6% of Total Investments)

	10,000	Capital Automotive LP., Term Loan		6.580%		12/16/10	BB+		10,093,251
	1,378	Lion Gables, Term Loan		6.590%		9/30/06	Ba2		1,385,067
	19,920	LNR Property Corporation, Term Loan		7.831%		2/03/08		B2	20,104,799
	1,815	LNR Property Corporation, Term Loan B		10.080%		2/03/08		B2	1,830,648
	8,000	Macerich Company, Term Loan		6.375%		4/25/10		N/R	8,050,000
	8,000	Trizec Properties Inc., Term Loan, WI/DD	TBD		TBD		Ba2		8,008,752

	49,113	Total Real Estate Management & Development							49,472,517


		Road & Rail - 0.8% (0.5% of Total Investments)

	781	Hertz Corporation, Delayed Draw Term Loan, (6)		2.250%		12/21/12	BB+		8,213
	667	Hertz Corporation, Synthetic Term Loan		4.930%		12/21/12	BB+		674,263
	4,541	Hertz Corporation, Term Loan		7.103%		12/21/12	BB		4,592,358

	5,989	Total Road & Rail							5,274,834


		Specialty Retail - 1.5% (0.9% of Total Investments)

	9,000	Toys “R” Us, Inc., Term Loan		7.826%		12/09/08		B-	9,015,471
	995	TravelCenters of America Inc., Term Loan		6.620%		12/01/11		B1	1,008,971

	9,995	Total Specialty Retail							10,024,442


		Textiles, Apparel & Luxury Goods - 0.9% (0.5% of Total Investments)

	1,000	Burlington Coat Factory Warehouse Corporation, Term Loan		7.160%		5/28/13		B	998,750
	4,690	Visant Holding Corporation, Term Loan C		7.068%		7/29/10		B+	4,755,878

	5,690	Total Textiles, Apparel & Luxury Goods							5,754,628


		Trading Companies & Distributors - 2.0% (1.2% of Total Investments)

	2,970	Ashtead Group Public Limited Company, Term Loan		6.500%		11/12/09	Ba3		3,004,341
	393	Brenntag Holdings, Acquisition Facility Term Loan		7.440%		1/20/14		B2	398,127
	1,607	Brenntag Holdings, Term Loan		7.440%		1/20/14		B-	1,633,793
	1,219	United Rentals Inc., Credit Linked Deposit		5.340%		2/13/11		B2	1,233,755
	6,981	United Rentals Inc., Term Loan B		7.000%		2/14/11		B2	7,066,390

	13,170	Total Trading Companies & Distributors							13,336,406

$	939,869	Total Variable Rate Senior Loan Interests (cost $935,764,115)							943,667,158


Principal
Amount (000)		Description (1)	Coupon		Maturity		Ratings (4)		Value


		Corporate Bonds - 17.2% (10.6% of Total Investments)

		Containers & Packaging - 0.2% (0.1% of Total Investments)

$	1,500	Owens-Illinois Inc.		8.100%		5/15/07		B	$	1,522,500


		Diversified Telecommunication Services - 0.8% (0.5% of Total Investments)

	5,000	Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR		8.380%		6/15/13		BB		5,468,750


		Energy Equipment & Services - 0.8% (0.5% of Total Investments)

	5,000	Williams Companies Inc., Floating Rate Note, 2.000% plus three-month LIBOR, Series 144A		7.130%		10/01/10		B+		5,162,500


		Food Products - 0.5% (0.3% of Total Investments)

	1,528	Dole Foods Company		8.625%		5/01/09		B		1,516,540
	1,780	Dole Foods Company		8.875%		3/15/11		B		1,744,400

	3,308	Total Food Products								3,260,940


		Hotels, Restaurants & Leisure - 6.1% (3.7% of Total Investments)

	9,505	Aztar Corporation		9.000%		8/15/11	Ba3			10,051,538
	5,425	MGM Mirage Inc.		9.750%		6/01/07	Ba3			5,655,563
	2,000	Mirage Resorts		7.250%		10/15/06	BB			2,020,000
	7,900	Mohegan Tribal Gaming Authority		8.000%		4/01/12	Ba3			8,255,500
	2,000	Park Place Entertainment		8.500%		11/15/06	BBB-			2,031,390
	12,076	Park Place Entertainment		9.375%		2/15/07	BB+			12,423,185

	38,906	Total Hotels, Restaurants & Leisure								40,437,176


		Household Durables - 3.1% (1.9% of Total Investments)

	5,000	Beazer Homes USA, Inc.		8.375%		4/15/12	Ba1			5,231,250
	2,000	K. Hovnanian Enterprises Inc.		10.500%		10/01/07	Ba1			2,127,500
	8,000	K. Hovnanian Enterprises Inc., Senior Unsecured Notes		8.000%		4/01/12	Ba1			8,340,000
	5,000	KB Home		7.750%		2/01/10	Ba2			5,176,700

	20,000	Total Household Durables								20,875,450


		Machinery - 2.0% (1.2% of Total Investments)

	13,400	Navistar International Corporation, Series B		9.375%		6/01/06	BB-			13,475,375


		Media - 1.6% (1.0% of Total Investments)

	10,000	Cablevision Systems Corporation, Floating Rate Note, 4.500% plus six-month LIBOR, Series B		9.720%		4/01/09		B+		10,625,000


		Paper & Forest Products - 0.8% (0.5% of Total Investments)

	5,000	Georgia Pacific Corporation, Notes		8.125%		5/15/11		B		5,212,500


		Semiconductors & Equipment - 1.1% (0.7% of Total Investments)

	7,000	Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR, 144A		10.630%		6/01/13		B		7,411,250


		Wireless Telecommunication Services - 0.2% (0.2% of Total Investments)

	1,000	Dobson Communications Corporation, Floating Rate Note, 4.250% plus three-month LIBOR		9.380%		10/15/12	CCC			1,020,000

$	110,114	Total Corporate Bonds (cost $115,122,501)								114,471,441


Shares		Description (1)	Value


		Investment Companies - 0.2% (0.1% of Total Investments)

	74,200	Eaton Vance Floating-Rate Income Trust Fund	$	1,307,404

		Total Investment Companies (cost $1,260,676)		1,307,404


Shares		Description (1)	Value


		Warrants - 0.0% (0.0% of Total Investments)

	36,521	Reliant Energy Inc.	$	237,387

		Total Warrants (cost $257,912)		237,387


Principal
Amount (000)		Description (1)	Coupon		Maturity		Value


		Short-Term Investments - 3.3% (2.0% of Total Investments)

$	22,133	Repurchase Agreement with State Street Bank, dated 4/28/06, repurchase price $22,141,151, collateralized by $22,690,000, U.S. Treasury Bills, 0.000%, due 6/08/06, value $22,576,550		4.450%		5/01/06	$	22,132,943

		Total Short-Term Investments (cost $22,132,943)						22,132,943

		Total Investments (cost $1,074,538,147) – 162.4%						1,081,816,333

		Other Assets Less Liabilities – (2.4)%						(15,641,409	)

		Preferred Shares, at Liquidation Value – (60.0)%						(400,000,000	)

		Net Assets Applicable to Common Shares – 100%					$	666,174,924


	(1)	All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.

	(2)	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.

	(3)	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.

	(4)	Ratings: Using the higher of Standard & Poor’s or Moody’s rating. Ratings below BBB by Standard & Poor’s Group or Baa by Moody’s Investor Service, Inc. are considered to be below investment grade.

	(5)	At or subsequent to April 30, 2006, this issue was under the protection of the Federal Bankruptcy Court.

	(6)	Position represents an unfunded Senior Loan commitment outstanding at April 30, 2006. At April 30, 2006, the Fund had unfunded Senior Loan commitments of $3,556,160.

	(7)	Negative value represents unrealized depreciation on Senior Loan commitment at April 30, 2006.

WI/DD		Purchased on a when-issued or delayed delivery basis.

DD1		Portion purchased on a delayed delivery basis.

	N/R	Not rated.

	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.

(PIK)		In lieu of cash payment, interest accrued on “Payment in Kind” investment increases principal outstanding.


Income Tax Information

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, recognition of premium amortization and timing differences in recognizing certain gains and losses on investment transactions.

At April 30, 2006, the cost of investments was $1,079,000,373.

Gross unrealized appreciation and gross unrealized depreciation of investments at April 30, 2006, were as follows:



Gross unrealized:
Appreciation	$	9,723,174
Depreciation		(6,907,214	)



Net unrealized appreciation (depreciation) of investments	$	2,815,960

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;



By (Signature and Title)*	/s/ Jessica R. Droeger
	Jessica R. Droeger
	Vice President and Secretary

Date June 28, 2006

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.



By (Signature and Title)*	/s/ Gifford R. Zimmerman
	Gifford R. Zimmerman
	Chief Administrative Officer (principal executive officer)

Date June 28, 2006



By (Signature and Title)*	/s/ Stephen D. Foy
	Stephen D. Foy
	Vice President and Controller (principal financial officer)

Date June 28, 2006


*		Print the name and title of each signing officer under his or her signature.

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