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:    10/31/2007   

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

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

 

 

Item 1. Schedule of Investments

Nuveen Floating Rate Income Opportunity Fund (JRO)
October 31, 2007

Principal						Weighted Average
Amount (000)				Description (1)		Coupon		Maturity (2)		Ratings (3)		Value
				Variable Rate Senior Loan Interests – 141.4% (86.1% of Total Investments) (4)
				Aerospace & Defense – 0.8% (0.5% of Total Investments)
$	669			Dubai Aerospace, Term Loan		7.803%		7/23/09		BB-		$	668,638
	757			Dubai Aerospace, Term Loan B-1		8.933%		7/23/14		BB-			757,941
	573			Dubai Aerospace, Term Loan B-2		8.933%		7/23/13		BB-			573,835
	1,150			Transdigm Inc. Term Loan B		7.200%		6/23/13		BB-			1,133,829
	3,149			Total Aerospace & Defense									3,134,243
				Airlines – 3.4% (2.1% of Total Investments)
	1,995			Delta Air Lines Inc., Term Loan		8.082%		4/30/14		B			1,980,394
	4,950			Northwest Airlines Inc., Term Loan		7.030%		8/01/13		BB			4,774,686
	6,468			United Air Lines Inc., Term Loan B		7.001%		2/01/14		BB-			6,212,393
	13,413			Total Airlines									12,967,473
				Auto Components – 2.2% (1.4% of Total Investments)
	1,452			Accuride Corporation, Term Loan B		7.125%		1/31/12		BB-			1,424,535
	5,485			Federal-Mogul Corporation, Revolver, (5) (6)		6.279%		2/05/05		N/R			5,157,566
	1,988			Lear Corporation, Term Loan		7.789%		4/25/12		BB-			1,958,456
	8,925			Total Auto Components									8,540,557
				Building Products – 7.0% (4.3% of Total Investments)
	1,759			Atrium Companies Inc. Term Loan		8.529%		5/31/12		BB-			1,632,034
	3,000			Building Materials Corporation of America, Second Lien Term Loan		10.813%		9/15/14		Caa1			2,524,500
	4,963			Building Materials Corporation of America, Term Loan		7.937%		2/22/14		BB			4,531,913
	9,700			Nortek, Inc., Term Loan B		7.055%		8/27/11		Ba2			9,506,000
	2,923			Stile Acquisition Corporation, Canadian Term Loan		7.115%		4/05/13		BB			2,753,062
	2,927			Stile Acquisition Corporation, U.S. Term Loan		7.115%		4/05/13		BB			2,757,752
	2,970			TFS Acquisition, Term Loan		8.698%		8/11/13		B+			2,925,450
	28,242			Total Building Products									26,630,711
				Capital Markets – 1.4% (0.9% of Total Investments)
	2,302			Ameritrade Holdings Corporation, Term Loan B Facility		6.300%		12/31/12		Ba1			2,278,336
	480			BNY ConvergEx Group Incremental Delayed Draw Term Loan, (6) (7)		1.500%		7/02/14		B2			(13,209	)
	2,786			BNY ConvergEx Group Term Loan		8.200%		10/02/13		B2			2,750,893
	461			BNY ConvergEx Group Incremental Term Loan		8.200%		7/02/14		B2			454,856
	6,029			Total Capital Markets									5,470,876
				Chemicals – 7.7% (4.7% of Total Investments)
	3,184			Celanese, Holdings LLC, Term Loan B		6.979%		4/02/14		BB			3,133,588
	800			Celanese Holdings, LLC, Credit Linked Deposits		5.124%		4/02/14		BB			787,334
	1,837			Foamex LP, Term Loan		7.444%		2/12/13		B+			1,770,971
	656			Headwaters Inc., 1st Lien Term Loan		6.900%		4/30/11		BB+			646,406
	2,993			Hercules Inc., Term Loan B		6.990%		7/11/13		BB			2,958,834
	2,434			Hexion Specialty Chemicals, Term Loan C1		7.500%		5/05/13		Ba3			2,413,652
	529			Hexion Specialty Chemicals, Term Loan C2		7.500%		5/05/13		Ba3			524,314
	5,349			Huntsman International LLC, Term Loan		6.643%		4/19/14		BB+			5,312,785
	1,265			JohnsonDiversey Inc., Delayed Term Loan		7.360%		12/16/10		Ba2			1,251,865
	1,462			Lucite International, Term Loan B-1		7.450%		7/07/13		BB-			1,436,812
	518			Lucite International, Term Loan B-2		7.450%		7/07/13		BB-			508,725
	990			Lyondell Petrochemical Company, Term Loan		6.252%		8/16/13		BB+			986,425
	7,800			Rockwood Specialties Group, Inc., Term Loan E		6.460%		7/30/12		BB			7,687,388
	29,817			Total Chemicals									29,419,099
				Commercial Services & Supplies – 1.2% (0.7% of Total Investments)
	1,235			Allied Waste North America, New Term Loan B		6.552%		3/28/14		BBB-			1,214,126
	664			Allied Waste North America LC Facility		6.871%		3/28/14		BBB-			653,208
	27			Cenveo Corporation Delayed Term Loan		6.988%		6/21/13		BB			26,762
	961			Cenveo Corporation, Term Loan		6.988%		6/21/13		BB			937,345
	993			NCO Financial Systems Inc., Term Loan		8.353%		5/15/13		BB-			965,827
	1,016			Workflow Holdings Corporation, Term Loan		9.484%		11/30/11		BB-			884,078
	4,896			Total Commercial Services & Supplies									4,681,346
				Communications Equipment – 0.8% (0.5% of Total Investments)
	2,970			Aspect Software, Term Loan		8.250%		7/11/11		BB-			2,880,900
				Consumer Finance – 0.5% (0.3% of Total Investments)
	1,963			Peach Holdings, Term Loan		8.950%		11/30/13		B			1,933,063
				Containers & Packaging – 6.3% (3.9% of Total Investments)
	498			Amscan Holdings Inc., Term Loan B		7.563%		5/25/13		B1			482,575
	682			Bluegrass Container Company, LLC, Delayed Draw, 1st Lien		7.288%		6/30/13		BB			679,166
	3,030			Bluegrass Container Company, LLC, 2nd Lien		9.753%		12/31/13		B			3,051,136
	970			Bluegrass Container Company, LLC, Delayed Draw, 2nd Lien		9.753%		12/31/13		B			976,364
	2,280			Bluegrass Container Company, LLC, Term Loan B		7.322%		6/30/13		BB			2,269,844
	13,670			Graham Packaging Company, L.P., Term Loan B		7.661%		12/13/11		B+			13,432,912
	611			Smurfit-Stone Contianer Corporation, Deposit Funded Commitment		7.124%		11/01/10		Ba2			606,439
	910			Smurfit-Stone Contianer Corporation, Term Loan B		7.428%		11/01/11		Ba2			902,763
	1,309			Smurfit-Stone Contianer Corporation, Term Loan C		7.523%		11/01/11		Ba2			1,298,173
	411			Smurfit-Stone Contianer Corporation, Term Loan Tranche C-1		7.188%		11/01/11		Ba2			407,412
	24,371			Total Containers & Packaging									24,106,784
				Diversified Consumer Services – 3.1% (1.9% of Total Investments)
	258			Laureate Education Inc. Delayed Term Loan, (6) (7)		1.000%		8/17/14		B1			(4,129	)
	1,742			Laureate Education Inc., Term Loan		8.729%		8/17/14		B1			1,714,065
	7,000			Thomson Learning Center, Term Loan		7.950%		7/05/14		B+			6,786,112
	3,418			West Corporation, Term Loan		7.273%		10/24/13		BB-			3,357,164
	12,418			Total Diversified Consumer Services									11,853,212
				Diversified Telecommunication Services – 7.6% (4.6% of Total Investments)
	953			Choice One Communications, Term Loan B		9.250%		6/30/12		B1			943,329
	2,985			Crown Castle Operating Company, Term Loan		6.645%		1/26/14		BBB-			2,922,034
	1,955			Intelsat Corporation, Term Loan		7.124%		7/01/13		BB+			1,935,942
	2,000			Intelsat Corporation, Unsecured Term Loan		7.859%		2/01/14		B			1,982,500
	12,885			Intelsat Corporation, Term Loan B		7.124%		12/03/13		BB+			12,754,959
	4,533			Level 3 Financing Inc., Term Loan		7.493%		3/13/14		B+			4,425,982
	3,960			MetroPCS Wireless Inc., Term Loan		7.579%		11/03/13		Ba3			3,890,251
	29,271			Total Diversified Telecommunication Services									28,854,997
				Electric Utilities – 5.0% (3.0% of Total Investments)
	8,844			Calpine Corporation DIP		7.448%		3/29/09		N/R			8,769,426
	1,111			Calpine Corporation DIP Revolver, (6) (7)		0.250%		3/29/09		N/R			(52,778	)
	188			MACH Gen LLC, Term Loan Synthetic Letter of Credit		7.200%		2/22/13		B+			181,828
	1,799			MACH Gen LLC, Term Loan		7.500%		2/22/14		B+			1,744,489
	2,148			Murray Energy Corporation, Term Loan C		14.063%		1/28/11		N/R			2,276,350
	2,000			Texas Competitive Electric Holdings, Term Loan B3, WI/DD		TBD		TBD		Ba3			2,000,000
	4,000			Texas Competitive Electric Holdings, Term Loan B, WI/DD		TBD		TBD		Ba3			4,001,244
	20,090			Total Electric Utilities									18,920,559
				Electronic Equipment & Instruments – 0.5% (0.3% of Total Investments)
	1,975			Sensata Technologies B.V., U.S. Term Loan		6.760%		4/27/13		BB			1,926,507
				Energy Equipment & Services – 0.3% (0.1% of Total Investments)
	998			Petroleum Geo-Services, Term Loan		6.950%		7/01/12		Ba2			981,706
				Food Products – 1.0% (0.6% of Total Investments)
	366			Dole Foods Company Inc., Deposit-Funded Commitment		7.290%		4/12/13		BB-			355,734
	810			Dole Foods Company Inc., Term Loan B		7.572%		4/12/13		BB-			788,394
	2,701			Dole Foods Company Inc., Term Loan C		7.415%		4/12/13		BB-			2,627,980
	3,877			Total Food Products									3,772,108
				Health Care Equipment & Supplies – 0.8% (0.5% of Total Investments)
	1,500			Symbion Healthcare Term Loan A		8.210%		8/01/13		Ba3			1,456,875
	1,500			Symbion Healthcare Term Loan B		8.210%		8/01/14		Ba3			1,456,875
	3,000			Total Health Care Equipment & Supplies									2,913,750
				Health Care Providers & Services – 8.6% (5.3% of Total Investments)
	6,957			HCA, Inc. Term Loan		7.448%		11/18/13		BB			6,809,117
	4,975			Health Management Associates Inc., Term Loan		6.942%		2/28/14		Ba2			4,764,943
	1,717			HealthSouth Corporation, Term Loan		7.628%		3/10/13		BB-			1,684,474
	1,276			IASIS Healthcare LLC, Delayed Term Loan, (6)		5.960%		3/14/14		Ba2			887,694
	340			IASIS Healthcare LLC, LC Facility		4.693%		3/14/14		Ba2			325,156
	3,714			IASIS Healthcare LLC, Term Loan		7.066%		3/14/14		Ba2			3,550,739
	519			LifePoint Hospitals Inc., Term Loan B		7.165%		4/18/12		BB			509,960
	14,600			Vanguard Health Holding Company II, LLC, Replacement Term Loan		7.448%		9/23/11		Ba3			14,312,262
	34,098			Total Health Care Providers & Services									32,844,345
				Health Care Technology – 0.5% (0.3% of Total Investments)
	1,945			Emdeon Business Services Term Loan		5.205%		1/18/13		BB-			1,916,086
				Hotels, Restaurants & Leisure – 8.3% (5.0% of Total Investments)
	3,942			24 Hour Fitness Worldwide, Inc., Term Loan B		7.809%		6/08/12		Ba3			3,883,332
	488			CBRL Group, Inc., Term Loan B-1		7.431%		4/28/13		BB			476,083
	2,963			Cedar Fair LP, Term Loan		6.753%		8/30/12		BB			2,908,805
	1,917			Green Valley Ranch Gaming, Term Loan B		7.413%		2/16/14		BB-			1,878,927
	3,505			Intrawest Corporation, Term Loan		8.130%		4/24/08		N/R			3,479,180
	3,000			Orbitz Worldwide Inc., Term Loan,		8.198%		7/25/14		BB-			2,960,625
	1,960			Penn National Gaming, Inc., Term Loan B		6.901%		10/03/12		BBB-			1,950,064
	3,557			Travelport, Term Loan		7.448%		8/23/13		BB-			3,492,833
	714			Travelport, LC Facility		7.448%		8/23/13		BB-			700,839
	1,995			Travelport, Delayed Term Loan		7.448%		8/23/13		BB-			1,958,529
	2,000			Venetian Casino Resort, LLC, (Las Vegas Sands, Inc.) Delayed Term Loan, (6) (7)		0.750%		5/23/14		BB			(55,097	)
	7,980			Venetian Casino Resort, LLC, Term Loan		6.950%		5/23/14		BB			7,760,163
	34,021			Total Hotels, Restaurants & Leisure									31,394,283
				Household Durables – 1.6% (1.0% of Total Investments)
	6,168			Jarden Corporation, Term Loan		6.948%		1/24/12		BB-			6,056,680
				Household Products – 2.3% (1.4% of Total Investments)
	8,786			Prestige Brands, Inc., Term Loan B		7.731%		4/06/11		BB-			8,741,768
				Independent Power Producers & Energy Traders – 1.7% (1.0% of Total Investments)
	1,400			NRG Energy Inc., Holdco Term Loan, (6) (7)		0.500%		2/01/13		BB			(27,250	)
	1,962			NRG Energy Inc., Credit Linked Deposits		6.848%		2/01/13		Ba1			1,924,151
	4,714			NRG Energy Inc., Term Loan		6.948%		2/01/13		Ba1			4,623,223
	8,076			Total Independent Power Producers & Energy Traders									6,520,124
				Insurance – 1.6% (1.0% of Total Investments)
	993			Affirmative Insurance Holdings Inc., Term Loan		8.549%		1/31/14		B1			947,838
	5,394			Conseco, Inc., Term Loan		6.819%		10/10/13		Ba3			5,166,651
	6,387			Total Insurance									6,114,489
				Internet Software & Services – 1.0% (0.6% of Total Investments)
	3,887			Sabre Group Holdings, Inc., Term Loan		6.960%		9/30/14		B+			3,700,886
				IT Services – 4.2% (2.5% of Total Investments)
	995			Attachmate, Term Loan		8.448%		4/13/12		BB-			975,100
	4,000			First Data Term Loan, Tranche B		7.960%		9/24/14		BB-			3,856,818
	339			Infor Global Solutions, Term Loan Delayed Draw		8.950%		7/28/12		B+			330,943
	651			Infor Global Solutions, Term Loan		8.950%		7/28/12		B+			624,549
	10,211			SunGard Data Systems Inc., Term Loan B		7.356%		2/28/14		BB+			10,095,338
	16,196			Total IT Services									15,882,748
				Leisure Equipment & Products – 1.4% (0.9% of Total Investments)
	5,468			Bombardier Recreational Products, Term Loan		7.699%		6/28/13		B+			5,324,810
				Machinery – 1.4% (0.8% of Total Investments)
	1,589			Navistar International,Term Loan		8.234%		1/19/12		BB-			1,564,857
	578			Navistar International Synthetic Letter of Credit		6.853%		1/19/12		BB-			569,039
	1,975			Oshkosh Truck Corporation, Term Loan		7.450%		12/06/13		BBB-			1,946,300
	279			Rexnord Corporation, Incremental Term Loan B-2		7.642%		7/19/13		Ba2			277,306
	934			Rexnord Corporation, Term Loan B		7.603%		7/19/13		Ba2			930,338
	5,355			Total Machinery									5,287,840
				Media – 28.3% (17.2% of Total Investments)
	1,965			AMC Entertainment Inc., Term Loan		6.606%		1/28/13		Ba1			1,934,144
	998			Canwest Media L.P., Term Loan		7.541%		7/10/15		Ba1			987,525
	5,975			Cequel Communications LLC., Term Loan B		7.268%		11/05/13		BB-			5,798,725
	3,000			Charter Communications Operating, LLC, Holdco Term Loan		7.698%		3/06/14		B1			2,885,157
	7,800			Charter Communications Operating, LLC, Term Loan		6.990%		3/06/14		B+			7,508,799
	4,099			Clear Channel Entertainment, Term Loan B		7.950%		6/20/13		Ba3			4,037,851
	984			Cumulus Media Inc, Term Loan		7.002%		6/11/14		Ba3			972,718
	2,000			HIT Entertainment Inc., Second Lien Term Loan		10.860%		2/26/13		B-			1,910,000
	3,920			HIT Entertainment Inc., Term Loan B		7.170%		3/20/12		Ba3			3,846,547
	4,963			Idearc Inc., Term Loan		7.200%		11/17/14		BBB-			4,900,211
	2,985			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		8.448%		4/08/12		N/R			2,869,331
	3,935			Metro-Goldwyn-Mayer Studios, Inc., Term Loan B		8.448%		4/08/12		N/R			3,782,567
	11,902			Nielsen Finance LLC, Term Loan B, DD1		TBD		TBD		Ba3			11,606,554
	3,000			NextMedia Operating Inc., Second Lien Term Loan		9.360%		11/15/12		CCC+			2,865,000
	3,000			Philadelphia Newspapers, Mezzanine Term Loan		16.500%		6/29/12		N/R			2,610,000
	1,912			ProQuest Company, Term Loan B		8.170%		2/09/14		N/R			1,892,550
	3,871			Regal Cinemas Corporation, Term Loan		6.698%		10/27/13		Ba2			3,790,999
	3,733			Tribune Company, Term Loan		7.744%		6/04/09		BB			3,695,709
	14,963			Tribune Company, Term Loan		8.244%		6/04/14		BB			13,930,088
	906			Univision Communications, Term Loan, (6) (7)		3.668%		9/29/14		B+			(25,482	)
	2,000			Univision Communications, Second Lien Term Loan		7.253%		3/29/09		B3			1,987,500
	14,497			Univision Communications, Term Loan		7.210%		9/29/14		Ba3			13,762,752
	427			Valassis Communications, Inc., Delayed Draw Term Loan, (6) (7)		1.000%		3/02/14		BB			(20,000	)
	1,432			Valassis Communications, Inc., Term Loan		6.950%		3/02/14		BB			1,365,002
	4,810			WMG Acquisition Corp., Term Loan		7.419%		2/28/11		Ba2			4,707,331
	4,025			Yell Group, Term Loan		6.753%		10/27/12		N/R			3,978,777
	113,102			Total Media									107,580,355
				Metals & Mining – 1.6% (0.9% of Total Investments)
	2,528			Amsted Industries Incorporated, Delayed Draw Term Loan		7.266%		4/08/13		BB			2,474,174
	3,478			Amsted Industries Incorporated, Term Loan B		7.279%		4/08/13		BB			3,423,457
	6,006			Total Metals & Mining									5,897,631
				Oil, Gas & Consumable Fuels – 1.9% (1.2% of Total Investments)
	4,000			Callon Petroleum, Term Loan		12.000%		6/30/14		N/R			4,045,000
	301			Coffeyville Resources LLC, Letter of Credit		8.481%		12/28/10		B-			298,813
	980			Coffeyville Resources LLC., Term Loan D		8.481%		12/28/13		B-			974,533
	2,000			El Paso Corporation, Letter of Credit		6.438%		7/31/11		Ba1			1,976,250
	7,281			Total Oil, Gas & Consumable Fuels									7,294,596
				Paper & Forest Products – 3.6% (2.2% of Total Investments)
	7,860			Georgia-Pacific Corporation, Term Loan B		7.383%		12/20/12		BB+			7,686,659
	3,093			Georgia-Pacific Corporation, Term Loan B-2		7.372%		12/20/12		BB+			3,025,228
	2,877			Ply Gem Industries Inc., Delayed Term Loan		7.950%		8/15/11		BB-			2,709,140
	108			Ply Gem Industries Inc., Canadian Term Loan		7.950%		8/15/11		BB-			101,233
	13,938			Total Paper & Forest Products									13,522,260
				Real Estate Investment Trust – 0.2% (0.1% of Total Investments)
	993			Landsource Community Development, Term Loan		8.249%		2/27/13		N/R			884,388
				Real Estate Management & Development – 4.9% (3.0% of Total Investments)
	4,563			Capital Automotive LP., Term Loan		6.880%		12/15/10		BB+			4,515,178
	9,500			LNR Property Corporation, Term Loan B		8.110%		7/12/11		BB			9,286,250
	5,000			Realogy Corporation, Term Loan, WI/DD		TBD		TBD		BB			4,660,000
	19,063			Total Real Estate Management & Development									18,461,428
				Road & Rail – 4.9% (3.0% of Total Investments)
	444			Hertz LC Facility		5.238%		12/21/12		BB+			438,353
	2,470			Hertz Term Loan		6.871%		12/21/12		BB+			2,436,414
	17,674			Swift Transportation, Term Loan		8.375%		5/10/14		BB-			15,619,767
	20,588			Total Road & Rail									18,494,534
				Semiconductors & Equipment – 0.5% (0.3% of Total Investments)
	1,985			Freescale Semiconductor, Term Loan		7.330%		11/29/13		Baa3			1,909,703
				Software – 2.7% (1.7% of Total Investments)
	6,546			Dealer Computer Service, Term Loan		7.198%		10/26/12		BB			6,404,028
	4,000			Dealer Computer Service, Second Lien Term Loan		10.698%		10/26/13		B			4,010,000
	10,546			Total Software									10,414,028
				Specialty Retail – 6.5% (3.9% of Total Investments)
	511			Blockbuster, Inc., Term Loan A		9.374%		8/20/09		B			509,841
	2,028			Blockbuster, Inc., Term Loan B		9.623%		8/20/11		B			2,020,757
	970			Burlington Coat Factory Warehouse Corporation, Term Loan		7.760%		5/28/11		B2			912,138
	2,853			FGX International Inc., Term Loan B		9.650%		12/09/12		B+			2,767,397
	6,803			Michaels Stores Inc., Term Loan		7.619%		10/31/13		B			6,532,228
	1,980			Sally Holdings LLC, Term Loan		8.006%		11/16/13		BB-			1,945,350
	7,000			TRU 2005 RE Holding CO I, LLC, Term Loan		8.129%		12/08/08		B3			6,935,835
	3,000			Toys “R’’ Us, Delaware Inc., Term Loan B		9.760%		7/19/12		BB-			3,015,624
	25,145			Total Specialty Retail									24,639,170
				Textiles, Apparel & Luxury Goods – 1.8% (1.1% of Total Investments)
	1,745			HanesBrands Inc., Term Loan		6.743%		9/05/13		BB			1,725,695
	1,000			HanesBrands Inc., Second Lien Term Loan		8.815%		3/05/14		BB			1,006,874
	3,950			Visant Holding Corporation, Term Loan C		7.198%		7/29/10		Ba1			3,922,652
	6,695			Total Textiles, Apparel & Luxury Goods									6,655,221
				Trading Companies & Distributors – 0.5% (0.3% of Total Investments)
	1,980			Ashtead Group Public Limited Company, Term Loan		7.125%		8/31/11		BB+			1,945,348
				Wireless Telecommunication Services – 1.8% (1.1% of Total Investments)
	7,000			Asurion Corporation, Term Loan		8.360%		7/03/14		N/R			6,857,812
$	560,113			Total Variable Rate Senior Loan Interests (cost $551,640,432)									537,328,424

Principal
Amount (000)				Description (1)		Coupon		Maturity		Ratings (3)		Value
				Corporate Bonds – 15.7% (9.6% of Total Investments)
				Diversified Telecommunication Services – 3.2% (2.0% of Total Investments)
$	1,500			Intelsat Bermuda Limited, Floating Rate Note, 3.500% plus six-month LIBOR		8.306%		1/15/15		B		$	1,530,000
	10,000			Qwest Corporation, Floating Rate Note, 3.250% plus three-month LIBOR		8.144%		6/15/13		BBB-			10,712,500
	11,500			Total Diversified Telecommunication Services									12,242,500
				Health Care Equipment & Supplies – 0.4% (0.2% of Total Investments)
	1,500			Reable Therapeutics Financing Corporation		11.750%		11/15/14		CCC+			1,458,750
				Health Care Providers & Services – 0.8% (0.5% of Total Investments)
	3,000			Community Health Systems, Inc.		8.875%		7/15/15		B-			3,052,500
				Hotels, Restaurants & Leisure – 1.0% (0.6% of Total Investments)
	4,000			Quapaw Tribe of Oklahoma Downstream Development Authority		12.000%		10/15/15		B-			3,880,000
				Media – 4.1% (2.5% of Total Investments)
	15,000			Cablevision Systems Corporation, Floating Rate Note, 4.500% plus six-month		9.306%		4/01/09		B+			15,487,500
				LIBOR, 144A
				Paper & Forest Products – 0.5% (0.3% 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		6.681%		12/01/11		Ba3			3,015,000
				Semiconductors & Equipment – 4.1% (2.5% of Total Investments)
	5,000			Avago Technologies Finance Pte. Ltd., Floating Rate Note, 5.500% plus		10.394%		6/01/13		B			5,125,000
				three-month LIBOR
	11,000			NXP BV, Floating Rate Note, 2.750% plus three-month LIBOR		7.644%		10/15/13		BB			10,463,750
	16,000			Total Semiconductors & Equipment									15,588,750
				Software – 0.3% (0.2% of Total Investments)
	1,000			Telcordia Technologies, Floating Rate Note, 3.75% plus three-month LIBOR, 144A		8.644%		7/15/12		B			930,000
				Trading Cos & Distributors – 0.5% (0.3% of Total Investments)
	2,000			Penhall International Corporation		12.000%		8/01/14		B-			2,055,000
$	59,000			Total Corporate Bonds (cost $59,155,970)									59,785,000

Shares				Description (1)								Value
				Warrants – 0.1% (0.1% of Total Investments)
	26,182			Reliant Energy Inc., Warrant Class A								$	555,058
				Total Warrants (cost $184,678)									555,058

Principal
Amount (000)				Description (1)		Coupon		Maturity				Value
				Short-Term Investments – 7.0% (4.2% of Total Investments)
$	26,611			Repurchase Agreement with Fixed Income Clearing Corporation, dated 10/31/07,		4.300%		11/01/07				$	26,611,357
				repurchase price $26,614,536, collateralized by $26,500,000 U.S. Treasury Notes, 4.875%, due 5/31/08, value $27,147,713
				Total Short-Term Investments (cost $26,611,357)									26,611,357
				Total Investments (cost $637,592,437) – 164.2%									624,279,839
				Other Assets Less Liabilities – (1.1)%									(4,148,799	)
				Preferred Shares, at Liquidation Value – (63.1)%									(240,000,000	)
				Net Assets Applicable to Common Shares – 100%								$	380,131,040

(1)		All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
(2)		Senior Loans generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a Borrower to prepay, prepayments of Senior Loans may occur. As a result, the actual remaining maturity of Senior Loans held may be substantially less than the stated maturities shown.
(3)		Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be below investment grade.
(4)		Senior Loans in which the Fund invests generally pay interest at rates which are periodically adjusted by reference to a base short-term, floating lending rate plus an assigned fixed rate. These floating lending rates are generally (i) the lending rate referenced by the London Inter-Bank Offered Rate (“LIBOR”), or (ii) the prime rate offered by one or more major United States banks.
		Senior Loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the Agent Bank and/or Borrower prior to the disposition of a Senior Loan.
(5)		At or subsequent to October 31, 2007, this issue was under the protection of the Federal Bankruptcy Court.
(6)		Position or portion of position represents an unfunded Senior Loan commitment outstanding at October 31, 2007. At October 31, 2007, the Fund had unfunded Senior Loan commitments of $6,519,190.
(7)		Negative value represents unrealized depreciation on Senior Loan commitment at October 31, 2007.
N/R		Not rated.
DD1		Portion of investment purchased on a delayed delivery basis.
144A		Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers.
TBD		Senior Loan purchased on a when-issued or delayed-delivery basis. Certain details associated with this purchase are not known prior to the settlement date of the transaction. In addition, Senior Loans typically trade without accrued interest and therefore a weighted average coupon rate is not available prior to settlement. At settlement, if still unknown, the Borrower or counterparty will provide the Fund with the final weighted average coupon rate and maturity date.
WI/DD		Purchased on a when-issued or delayed delivery basis.

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing certain gains and losses on investment transactions and recognition of premium amortization.

At October 31, 2007, the cost of investments was $638,192,879.

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

Gross unrealized:
Appreciation		$	1,877,956
Depreciation			(15,790,996	)
Net unrealized appreciation (depreciation) of investments		$	(13,913,040	)

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 28, 2007

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

Date December 28, 2007

Date December 28, 2007