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:    4/30/2008   

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

Item 1. Schedule of Investments

Nuveen Floating Rate Income Opportunity Fund (JRO)
April 30, 2008

						Weighted
Principal						Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 144.6% (85.0% of Total Investments) (4)
				Aerospace & Defense – 0.7% (0.4% of Total Investments)
$	574			DAE Aviation Holdings, Inc., Term Loan B-1		6.520%		7/31/14		BB-		$	565,313
	571			DAE Aviation Holdings, Inc., Term Loan B-2		6.650%		7/31/14		BB-			561,515
	1,150			Transdigm, Inc., Term Loan B		4.655%		6/23/13		BB-			1,099,688
	2,295			Total Aerospace & Defense									2,226,516
				Airlines – 2.9% (1.7% of Total Investments)
	1,985			Delta Air Lines, Inc., Term Loan		6.149%		4/30/14		B			1,588,000
	4,950			Northwest Airlines, Inc., DIP Term Loan		4.720%		8/21/13		BB			4,313,925
	4,629			United Air Lines, Inc., Term Loan B		4.838%		2/01/14		BB-			4,012,738
	11,564			Total Airlines									9,914,663
				Auto Components – 1.0% (0.6% of Total Investments)
	1,452			Accuride Corporation, Term Loan		6.244%		1/31/12		BB-			1,408,203
	1,982			Lear Corporation, Term Loan		5.227%		4/25/12		BB-			1,910,153
	3,434			Total Auto Components									3,318,356
				Building Products – 7.4% (4.3% of Total Investments)
	1,750			Atrium Companies, Inc., Term Loan		6.466%		5/31/12		BB-			1,469,893
	4,938			Building Materials Corporation of America, Term Loan		5.688%		2/22/14		BB-			4,155,991
	3,000			Building Materials Corporation of America, Term Loan, Second Lien		8.688%		9/15/14		Caa2			1,892,501
	9,650			Nortek, Inc., Term Loan B		5.302%		8/27/11		Ba3			8,733,250
	3,406			Stile Acquisition Corporation, Canadian Term Loan		4.893%		4/05/13		BB-			3,086,282
	3,412			Stile Acquisition Corporation, Term Loan B		4.892%		4/05/13		BB-			3,091,540
	2,955			TFS Acquisition, Term Loan		6.196%		8/11/13		B+			2,748,150
	29,111			Total Building Products									25,177,607
				Capital Markets – 1.5% (0.9% of Total Investments)
	2,302			Ameritrade Holdings Corporation, Term Loan B		4.370%		12/31/12		Ba1			2,252,476
	480			BNY Convergex Group LLC, Incremental Delayed Draw Term Loan, (5), (6)		1.500%		10/02/13		B2			(44,431	)
	343			BNY Convergex Group LLC, Incremental Term Loan		5.700%		10/02/13		B2			323,242
	2,786			BNY Convergex Group LLC, Term Loan		5.700%		10/02/13		B+			2,629,018
	5,911			Total Capital Markets									5,160,305
				Chemicals – 7.1% (4.1% of Total Investments)
	800			Celanese Holdings LLC, Credit Linked Deposit		2.703%		4/02/14		BB+			774,500
	3,168			Celanese Holdings LLC, Term Loan C		4.188%		4/02/14		BB+			3,067,020
	1,536			Foamex LP, Term Loan B		5.972%		2/12/13		B1			1,271,429
	2,978			Hercules Offshore, Inc., Term Loan		4.450%		7/11/13		BB			2,908,025
	2,421			Hexion Specialty Chemicals, Inc., Term Loan C-1		4.938%		5/05/13		Ba3			2,289,061
	526			Hexion Specialty Chemicals, Inc., Term Loan C-2		5.000%		5/05/13		Ba3			497,249
	3,023			Huntsman International LLC, Term Loan		4.636%		4/19/14		BB+			2,933,319
	1,259			JohnsonDiversey, Inc., Delayed Term Loan		5.112%		12/16/10		Ba2			1,197,576
	1,455			Lucite International, Term Loan B-1		5.150%		7/07/13		BB-			1,304,953
	515			Lucite International, Term Loan B-2		5.150%		7/07/13		BB-			462,062
	7,760			Rockwood Specialties Group, Inc., Term Loan E		4.399%		7/30/12		BB+			7,403,253
	25,441			Total Chemicals									24,108,447
				Commercial Services & Supplies – 1.8% (1.1% of Total Investments)
	664			Allied Waste North America, Letter of Credit		4.109%		3/28/14		BBB-			642,772
	1,104			Allied Waste North America, Term Loan B		4.383%		3/28/14		BBB-			1,068,854
	119			Aramark Corporation, Letter of Credit, WI/DD		TBD		TBD		BB			114,736
	1,881			Aramark Corporation, Term Loan, WI/DD		TBD		TBD		BB			1,806,014
	27			Cenveo Corporation, Delayed Term Loan		4.349%		6/21/13		BB			25,501
	957			Cenveo Corporation, Term Loan		4.349%		6/21/13		BB+			893,180
	980			NCO Financial Systems, Inc., Term Loan		7.200%		5/15/13		BB-			917,700
	886			Workflow Holdings Corporation, Term Loan		8.000%		11/30/11		BB-			778,249
	6,618			Total Commercial Services & Supplies									6,247,006
				Communications Equipment – 0.7% (0.4% of Total Investments)
	2,645			Aspect Software, Inc., Term Loan B		5.625%		7/11/11		BB-			2,479,364
				Consumer Finance – 0.5% (0.3% of Total Investments)
	1,933			Peach Holdings Inc., Term Loan		7.138%		11/30/13		B			1,580,500
				Containers & Packaging – 4.8% (2.8% of Total Investments)
	495			Amscan Holdings Inc., Term Loan		5.156%		5/25/13		B1			423,225
	13,601			Graham Packaging Company, L.P., Term Loan		5.037%		10/07/11		B+			12,922,184
	611			Smurfit-Stone Container Corporation, Deposit-Funded Commitment		4.684%		11/01/10		BB			596,180
	685			Smurfit-Stone Container Corporation, Term Loan B		5.013%		11/01/11		BB			668,391
	1,302			Smurfit-Stone Container Corporation, Term Loan C		5.029%		11/01/11		BB			1,269,651
	409			Smurfit-Stone Container Corporation, Tranche C-1		4.709%		11/01/11		BB			398,477
	17,103			Total Containers & Packaging									16,278,108
				Diversified Consumer Services – 3.3% (1.9% of Total Investments)
	6,965			Cengage Learning Acquisitions, Inc., Term Loan		5.342%		7/05/14		B+			6,474,546
	258			Laureate Education, Inc., Delayed Term Loan, (5), (6)		1.000%		8/17/14		B1			(19,097	)
	1,733			Laureate Education, Inc., Term Loan B		5.966%		8/17/14		B1			1,604,967
	3,409			West Corporation, Term Loan		5.320%		10/24/13		BB-			3,124,752
	12,365			Total Diversified Consumer Services									11,185,168
				Diversified Telecommunication Services – 8.6% (5.1% of Total Investments)
	1,990			Alltel Communications, Inc., Term Loan B3		5.466%		5/18/15		BB-			1,832,596
	948			Choice One Communications, Term Loan B		6.813%		6/30/12		B2			810,418
	2,970			Crown Castle Operating Company, Term Loan		4.196%		1/26/14		BB+			2,782,984
	2,000			Intelsat, Term Loan		5.200%		2/01/14		B			1,998,500
	1,945			Intelsat, Tranche B, Term Loan		5.184%		7/01/13		BB			1,863,669
	4,274			Intelsat, Tranche B-2, Term Loan A		5.184%		1/03/14		BB-			4,061,783
	4,273			Intelsat, Tranche B-2, Term Loan B		5.184%		1/03/14		BB-			4,060,561
	4,273			Intelsat, Tranche B-2, Term Loan C		5.184%		1/03/14		BB-			4,060,561
	4,533			Level 3 Financing, Inc., Term Loan		4.962%		3/13/14		B+			4,209,200
	3,940			MetroPCS Wireless, Inc., Term Loan		5.317%		11/03/13		Ba3			3,722,479
	31,146			Total Diversified Telecommunication Services									29,402,751
				Electric Utilities – 5.2% (3.1% of Total Investments)
	1,028			Calpine Corporation, DIP Revolver, (5)		2.365%		3/31/14		B+			204,861
	8,465			Calpine Corporation, DIP Term Loan		5.575%		3/31/14		B+			7,978,881
	188			MACH Gen LLC, Synthetic Letter of Credit		4.696%		2/22/13		B+			181,953
	1,787			MACH Gen LLC, Term Loan		5.100%		2/22/14		B+			1,734,284
	2,137			Murray Energy Corporation, Term Loan		13.438%		1/28/11		N/R			2,029,675
	3,980			TXU Corporation, Term Loan B-2		6.579%		10/10/14		Ba3			3,818,313
	1,990			TXU Corporation, Term Loan B-3		6.583%		10/10/14		Ba3			1,907,788
	19,575			Total Electric Utilities									17,855,755
				Electrical Equipment – 0.8% (0.5% of Total Investments)
	2,992			Allison Transmission Holdings, Inc., Term Loan		5.573%		8/07/14		BB-			2,812,665
				Electronic Equipment & Instruments – 0.5% (0.3% of Total Investments)
	1,965			Sensata Technologies B.V., Term Loan		4.663%		4/27/13		BB			1,794,700
				Energy Equipment & Services – 0.3% (0.2% of Total Investments)
	953			PGS Finance, Inc., Term Loan		4.450%		6/29/15		Ba2			924,733
				Food Products – 1.1% (0.6% of Total Investments)
	366			Dole Food Company, Inc., Deposit-Funded Commitment		4.710%		4/12/13		Ba3			341,666
	806			Dole Food Company, Inc., Term Loan B		5.020%		4/12/13		Ba3			753,373
	2,688			Dole Food Company, Inc., Term Loan C		4.835%		4/12/13		Ba3			2,511,241
	3,860			Total Food Products									3,606,280
				Health Care Equipment & Supplies – 0.7% (0.4% of Total Investments)
	1,427			Symbion, Inc., Term Loan A		6.136%		8/01/13		Ba3			1,258,886
	1,427			Symbion, Inc., Term Loan B		6.136%		8/01/14		Ba3			1,258,886
	2,854			Total Health Care Equipment & Supplies									2,517,772
				Health Care Providers & Services – 9.4% (5.5% of Total Investments)
	3,096			HCA, Inc., Term Loan		4.946%		11/18/13		BB			2,944,980
	3,795			HCA, Inc., Term Loan A		4.696%		11/18/12		BB			3,590,659
	4,859			Health Management Associates, Inc., Term Loan		4.446%		2/28/14		BB-			4,496,394
	1,679			HealthSouth Corporation, Term Loan		5.230%		3/10/13		BB-			1,597,794
	1,276			IASIS Healthcare LLC, Delayed Term Loan		4.863%		3/14/14		Ba2			1,222,389
	340			IASIS Healthcare LLC, Letter of Credit		2.781%		3/14/14		Ba2			325,970
	3,696			IASIS Healthcare LLC, Term Loan		4.881%		3/14/14		Ba2			3,541,749
	519			LifePoint Hospitals, Inc., Term Loan B		4.710%		4/18/12		BB			499,488
	14,527			Vanguard Health Holding Company II LLC, Replacement Term Loan		5.134%		9/23/11		Ba3			14,030,450
	33,787			Total Health Care Providers & Services									32,249,873
				Health Care Technology – 0.5% (0.3% of Total Investments)
	1,896			Emdeon Business Services LLC, Term Loan		4.700%		11/18/13		BB-			1,790,091
				Hotels, Restaurants & Leisure – 8.5% (5.0% of Total Investments)
	3,922			24 Hour Fitness Worldwide, Inc., Term Loan B		5.933%		6/08/12		Ba3			3,510,598
	371			CBRL Group, Inc., Term Loan B-2		4.620%		4/28/13		BB			351,301
	2,948			Cedar Fair LP, Term Loan		4.863%		8/30/12		BB			2,810,768
	333			Fontainebleau Las Vegas LLC, Delayed Term Loan, (5), (6)		2.000%		6/06/14		B+			(53,333	)
	667			Fontainebleau Las Vegas LLC, Term Loan		6.258%		6/06/14		B+			560,000
	1,907			Green Valley Ranch Gaming LLC, Term Loan B		4.932%		2/16/14		BB-			1,535,355
	2,985			Orbitz Worldwide, Inc., Term Loan		5.794%		7/25/14		BB-			2,567,100
	1,950			Penn National Gaming, Inc., Term Loan B		4.931%		10/03/12		BBB-			1,890,417
	1,985			Travelport LLC, Delayed Term Loan		5.113%		8/23/13		BB-			1,824,215
	714			Travelport LLC, Letter of Credit		4.946%		8/23/13		BB-			659,707
	3,557			Travelport LLC, Term Loan		5.113%		8/23/13		BB-			3,287,841
	2,000			Venetian Casino Resort LLC, Delayed Term Loan, (5), (6)		0.750%		5/23/14		BB			(158,409	)
	7,940			Venetian Casino Resort LLC, Term Loan		4.450%		5/23/14		BB			7,311,116
	3,283			Wintergames Holdings, Term Loan		6.141%		10/23/08		N/R			3,127,138
	34,562			Total Hotels, Restaurants & Leisure									29,223,814
				Household Durables – 1.7% (1.0% of Total Investments)
	6,137			Jarden Corporation, Term Loan		4.446%		1/24/12		BB-			5,850,823
				Household Products – 2.3% (1.3% of Total Investments)
	8,055			Prestige Brands, Inc., Term Loan B		6.897%		4/06/11		BB-			7,792,868
				Independent Power Producers & Energy Traders – 1.7% (1.0% of Total Investments)
	1,962			NRG Energy, Inc., Credit Linked Deposit		2.596%		2/01/13		Ba1			1,886,750
	4,017			NRG Energy, Inc., Term Loan		4.196%		2/01/13		Ba1			3,863,161
	5,979			Total Independent Power Producers & Energy Traders									5,749,911
				Insurance – 1.4% (0.8% of Total Investments)
	778			Affirmative Insurance Holdings Inc., Term Loan		7.761%		1/31/14		B1			664,896
	5,366			Conseco, Inc., Term Loan		4.863%		10/10/13		Ba3			4,114,268
	6,144			Total Insurance									4,779,164
				Internet Software & Services – 1.0% (0.6% of Total Investments)
	3,887			Sabre, Inc., Term Loan		4.885%		9/30/14		B+			3,299,530
				IT Services – 4.9% (2.9% of Total Investments)
	981			Attachmate, Term Loan		5.946%		4/13/13		BB-			828,837
	5,975			First Data Corporation, Term Loan B-2		5.355%		9/24/14		BB-			5,629,729
	338			Infor Global Solutions Intermediate Holdings, Ltd., Delayed Term Loan		6.450%		7/28/12		B+			280,725
	647			Infor Global Solutions Intermediate Holdings, Ltd., Term Loan		6.450%		7/28/12		B+			519,447
	10,160			SunGard Data Systems, Inc., Term Loan B		4.878%		2/28/14		BB			9,648,476
	18,101			Total IT Services									16,907,214
				Leisure Equipment & Products – 1.4% (0.8% of Total Investments)
	5,468			Bombardier Recreational Products, Inc., Term Loan		5.320%		6/28/13		B+			4,857,720
				Machinery – 1.5% (0.9% of Total Investments)
	578			Navistar International Corporation, Synthetic Letter of Credit		2.614%		1/19/12		BB-			541,306
	1,589			Navistar International Corporation, Term Loan		6.234%		1/19/12		BB-			1,488,591
	1,975			Oshkosh Truck Corporation, Term Loan		4.760%		12/06/13		BBB-			1,896,548
	279			Rexnord Corporation, Incremental Term Loan		4.978%		7/19/13		Ba2			261,117
	934			Rexnord Corporation, Term Loan		5.310%		7/19/13		Ba2			876,025
	5,355			Total Machinery									5,063,587
				Media – 29.0% (17.1% of Total Investments)
	1,955			AMC Entertainment, Inc., Term Loan		4.636%		1/28/13		Ba1			1,850,967
	993			CanWest Mediaworks LP, Term Loan		5.085%		7/10/15		Ba1			952,800
	5,945			Cequel Communications LLC, Term Loan B		4.758%		11/05/13		BB-			5,435,182
	3,000			Charter Communications Operating Holdings LLC, Holdco Term Loan		5.171%		3/06/14		B+			2,437,500
	7,781			Charter Communications Operating Holdings LLC, Term Loan		4.900%		3/06/14		B+			6,892,228
	4,079			Clear Channel Entertainment, Term Loan B		5.450%		6/20/13		Ba3			3,752,490
	971			Cumulus Media, Inc., Term Loan		4.473%		6/11/14		Ba3			837,007
	2,000			HIT Entertainment, Inc., Term Loan		8.600%		2/26/13		B-			1,650,000
	2,928			HIT Entertainment, Inc., Term Loan B		5.070%		3/20/12		Ba3			2,649,962
	4,938			Idearc, Inc., Term Loan		4.707%		11/17/14		BBB-			4,085,781
	2,970			Metro-Goldwyn-Mayer Studios, Inc., Term Loan		5.946%		4/08/12		N/R			2,386,211
	8,902			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		5.946%		4/08/12		N/R			7,152,488
	11,842			Neilsen Finance LLC, Term Loan		5.346%		8/09/13		Ba3			11,230,522
	3,000			NextMedia Operating, Inc., Term Loan, Second Lien		7.200%		11/15/12		CCC+			2,400,000
	3,049			Philadelphia Newspapers, Term Loan A, (7)		16.500%		6/29/12		N/R			1,600,698
	1,912			ProQuest Company, Term Loan B		5.209%		2/09/14		N/R			1,801,746
	3,852			Regal Cinemas Corporation, Term Loan		4.196%		10/27/13		Ba2			3,666,367
	14,888			Tribune Company, Term Loan B		5.542%		6/04/14		B			11,072,578
	3,733			Tribune Company, Term Loan X		5.478%		6/04/09		B			3,560,667
	15,000			Univision Communications, Inc., Term Loan		5.147%		9/29/14		Ba3			12,670,312
	2,000			Univision Communications, Inc., Term Loan, Second Lien		5.363%		3/29/09		B3			1,923,333
	427			Valassis Communications, Inc., Delayed Draw Term		6.000%		3/02/14		BB			398,045
	1,291			Valassis Communications, Inc., Tranche B, Term Loan		4.450%		3/02/14		BB			1,204,334
	4,780			WMG Acquisition Corporation, Term Loan		4.315%		2/28/11		BB-			4,418,929
	4,025			Yell Group PLC, Term Loan		4.863%		10/27/12		N/R			3,581,532
	116,261			Total Media									99,611,679
				Metals & Mining – 2.0% (1.2% of Total Investments)
	2,515			Amsted Industries, Inc., Delayed Draw Term Loan		4.922%		4/08/13		BB			2,477,524
	3,459			Amsted Industries, Inc., Term Loan		4.749%		4/08/13		BB			3,407,263
	997			John Maneely Company, Term Loan		6.031%		12/08/13		B+			900,701
	6,971			Total Metals & Mining									6,785,488
				Oil, Gas & Consumable Fuels – 2.0% (1.2% of Total Investments)
	575			Calumet Lubricants Company LP, Credit Linked Deposit		6.534%		12/17/14		BB-			543,103
	4,414			Calumet Lubricants Company LP, Term Loan		7.065%		12/17/14		BB-			4,171,442
	301			Coffeyville Resources LLC, Credit Linked Deposit		5.448%		12/28/10		BB-			282,186
	975			Coffeyville Resources LLC, Term Loan D		5.450%		12/28/13		BB-			915,711
	1,000			RAM Energy Resources, Inc., Term Loan		10.250%		11/29/12		B3			935,000
	7,265			Total Oil, Gas & Consumable Fuels									6,847,442
				Paper & Forest Products – 4.8% (2.8% of Total Investments)
	7,820			Georgia-Pacific Corporation, Term Loan B		4.727%		12/21/12		BB+			7,513,311
	3,078			Georgia-Pacific Corporation, Term Loan B-2		4.684%		12/24/12		BB+			2,957,156
	90			Ply Gem Industries, Inc., Canadian Term Loan		5.450%		8/15/11		BB-			77,178
	2,863			Ply Gem Industries, Inc., Term Loan B3		5.450%		8/15/11		BB-			2,467,302
	3,980			Wilton Products, Term Loan		6.320%		11/16/14		Ba3			3,482,500
	17,831			Total Paper & Forest Products									16,497,447
				Real Estate Investment Trust – 0.2% (0.1% of Total Investments)
	868			LandSource Holding Company LLC, Term Loan		7.000%		2/27/13		N/R			615,253
				Real Estate Management & Development – 4.6% (2.7% of Total Investments)
	4,563			Capital Automotive LP, Term Loan		4.460%		12/15/10		BB+			4,425,283
	8,360			LNR Property Corporation, Term Loan B		6.360%		7/12/11		BB			6,998,888
	4,963			Realogy Corporation Delayed Draw Term Loan		5.717%		10/01/13		BB-			4,259,276
	17,886			Total Real Estate Management & Development									15,683,447
				Road & Rail – 4.7% (2.7% of Total Investments)
	444			Hertz Corporation, Letter of Credit		2.599%		12/21/12		BB+			426,919
	2,458			Hertz Corporation, Term Loan		4.224%		12/21/12		BB+			2,361,012
	17,674			Swift Transportation Company, Inc., Term Loan		6.500%		5/10/14		B+			13,171,127
	20,576			Total Road & Rail									15,959,058
				Semiconductors & Equipment – 0.5% (0.3% of Total Investments)
	1,975			Freescale Semiconductor, Inc., Term Loan		4.459%		11/29/13		Ba1			1,716,005
				Software – 3.5% (2.1% of Total Investments)
	6,272			Dealer Computer Services, Inc., Term Loan		4.886%		10/26/12		BB			6,005,277
	4,000			Dealer Computer Services, Inc., Term Loan, Second Lien		8.386%		10/26/13		B			3,770,000
	2,992			IPC Systems, Inc., Term Loan		4.946%		5/31/14		B+			2,286,739
	13,264			Total Software									12,062,016
				Specialty Retail – 5.9% (3.5% of Total Investments)
	453			Blockbuster, Inc., Tranche A, Term Loan		8.717%		8/20/09		B			437,430
	2,014			Blockbuster, Inc., Tranche B, Term Loan		8.572%		8/20/11		B			1,889,223
	970			Burlington Coat Factory Warehouse Corporation, Term Loan		5.340%		5/28/13		B2			817,499
	6,768			Michaels Stores, Inc., Term Loan		5.204%		10/31/13		B			6,001,910
	1,970			Sally Holdings LLC, Term Loan		5.600%		11/16/13		BB-			1,880,998
	7,000			TRU 2005 RE Holding Co I LLC, Term Loan		5.709%		12/08/08		B3			6,475,000
	2,985			TRU 2005 RE Holding Co I LLC, Term Loan B		7.315%		7/19/12		BB-			2,820,149
	22,160			Total Specialty Retail									20,322,209
				Textiles, Apparel & Luxury Goods – 1.8% (1.1% of Total Investments)
	1,395			HBI Branded Apparel Limited, Inc., Term Loan		4.615%		9/05/13		BB			1,371,981
	1,000			HBI Branded Apparel Limited, Inc., Term Loan, Second Lien		6.657%		3/05/14		B1			993,750
	3,950			Visant Holding Corporation, Term Loan C		6.718%		7/29/10		Ba1			3,804,982
	6,345			Total Textiles, Apparel & Luxury Goods									6,170,713
				Trading Companies & Distributors – 0.5% (0.3% of Total Investments)
	1,980			Ashtead Group Public Limited Company, Term Loan		4.500%		8/31/11		BB+			1,851,300
				Wireless Telecommunication Services – 1.9% (1.1% of Total Investments)
	7,000			Asurion Corporation, Term Loan		6.095%		7/03/14		N/R			6,477,912
$	551,518			Total Variable Rate Senior Loan Interests (cost $542,634,145)									494,755,260

Principal
Amount (000)				Description (1)				Coupon		Maturity		Ratings (3)			Value
				Corporate Bonds – 15.4% (9.0% of Total Investments)
				Diversified Telecommunication Services – 2.8% (1.7% of Total Investments)
$	10,000			Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR				6.100%		6/15/13		BBB-	$		9,625,000
				Health Care Equipment & Supplies – 0.4% (0.2% of Total Investments)
	1,500			Reable Therapeutics Financing Corporation				11.750%		11/15/14		CCC+			1,391,250
				Health Care Providers & Services – 0.9% (0.5% of Total Investments)
	3,000			Community Health Systems, Inc.				8.875%		7/15/15		B			3,135,000
				Hotels, Restaurants & Leisure – 0.9% (0.5% of Total Investments)
	4,000			Quapaw Tribe of Oklahoma Downstream Development Authority				12.000%		10/15/15		B-			3,060,000
				Media – 4.4% (2.6% of Total Investments)
	15,000			Cablevision Systems Corporation, Floating Rate Note, 4.500% plus six-month LIBOR, 144A				7.465%		4/01/09		B+			15,187,500
				Oil, Gas & Consumable Fuels – 0.5% (0.3% of Total Investments)
	2,000			Baseline Oil & Gas Corporation				12.500%		10/01/12		CCC+			1,880,000
				Paper & Forest Products – 0.6% (0.4% of Total Investments)
	2,000			Verso Paper Holdings LLC, Series B				9.125%		8/01/14		B+			2,075,000
				Real Estate Investment Trust – 0.8% (0.5% of Total Investments)
	3,000			Felcor Lodging LP, Floating Rate Note, 1.875% plus six-month LIBOR				4.840%		12/01/11		Ba3			2,752,500
				Semiconductors & Equipment – 3.3% (1.9% of Total Investments)
	1,000			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus three-month LIBOR				8.350%		6/01/13		BB-			1,002,500
	11,000			NXP BV, Floating Rate Note, 2.750% plus three-month LIBOR				5.600%		10/15/13		BB-			10,161,250
	12,000			Total Semiconductors & Equipment											11,163,750
				Software – 0.3% (0.1% of Total Investments)
	1,000			Telcordia Technologies, Floating Rate Note, 3.75% plus three-month LIBOR, 144A				6.600%		7/15/12		B			835,000
				Trading Companies & Distributors – 0.5% (0.3% of Total Investments)
	2,000			Penhall International Corporation				12.000%		8/01/14		B-			1,540,000
$	55,500			Total Corporate Bonds (cost $55,515,630)											52,645,000
Shares				Description (1)										Value
				Warrants – 0.2% (0.1% of Total Investments)
	26,182			Reliant Energy Inc., Warrant Class A (8)									$		540,658
				Total Warrants (cost $184,678)											540,658
Principal
Amount (000)				Description (1)				Coupon		Maturity				Value
				Short-Term Investments – 10.1% (5.9% of Total Investments)
$	34,363			Repurchase Agreement with Fixed Income Clearing Corporation, dated 4/30/08, repurchase price $34,365,119, collateralized by $33,910,000 U.S. Treasury Notes, 4.375%, due 11/15/08, value $35,054,463				1.730%		5/01/08			$		34,363,468
				Total Short-Term Investments (cost $34,363,468)											34,363,468
				Total Investments (cost $632,697,921) – 170.3%											582,304,386
				Other Assets Less Liabilities – (0.1)%											(465,950	)
				Preferred Shares, at Liquidation Value – (70.2)% (9)											(240,000,000	)
				Net Assets Applicable to Common Shares – 100%									$		341,838,436

(1)		All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
(2)		Senior Loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a Borrower to prepay, prepayments of Senior Loans may occur. As a result, the actual remaining maturity of Senior Loans held may be substantially less than the stated maturities shown.
(3)		Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be below investment grade.
(4)		Senior Loans generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks.
		Senior Loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the Agent Bank and/or Borrower prior to the disposition of a Senior Loan.
(5)		Position, or portion of position, represents an unfunded Senior Loan commitment outstanding at April 30, 2008. At April 30, 2008, the Fund had unfunded senior loan commitments of $3,766,175.
(6)		Negative value represents unrealized depreciation on unfunded Senior Loan commitment outstanding at April 30, 2008.
(7)		Non-income producing. Non-income producing, in the case of a Senior Loan, generally denotes that the issuer has defaulted on the payment of principal or interest or has filed for bankruptcy.
(8)		Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees.
(9)		Preferred Shares, at Liquidation Value as a percentage of total investments is (41.2)%.
N/R		Not rated.
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.

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, 2008, the cost of investments was $633,416,022.

Gross unrealized appreciation and gross unrealized depreciation of investments at April 30, 2008, were as follows:

Gross unrealized:
Appreciation		$	1,190,639
Depreciation			(52,302,275	)
Net unrealized appreciation (depreciation) of investments		$	(51,111,636	)

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 27, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date June 27, 2008

Date June 27, 2008