JMM - Nuveen Multi-Market Income Fund

What this means for you

Sit Investment is known for pushing closed-end funds to narrow the gap between price and value. For now it has told the regulator it is not seeking changes.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. Sept 4, 2026

   Sit Investment raised its stake to 62.6% (from 56.6%), as a passive investor.

   Original document →

2. Nov 14, 2025

   1607 Capital sold down below 5% and stopped reporting.

   Original document →

3. Nov 14, 2024

   1607 Capital cut its stake to 5.5% (from 5.8%), as a passive investor.

   Original document →

4. March 11, 2024

   1607 Capital cut its stake to 5.8% (from 12.1%), as a passive investor.

   Original document →

5. March 5, 2024

   Sit Investment raised its stake to 56.6% (from 50.3%), as a passive investor.

   Original document →

About this fund

• Run by Nuveen Fund Advisors, LLC. Part of the Nuveen fund family. As of June 30, 2026, from the fund's yearly report. Original document →
• Size: about $61.5 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund does not borrow. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.9% a year in management fees; 3.3% a year in total, including interest on borrowed money. Fiscal year ended June 30, 2026. As of June 30, 2026, from the fund's yearly report. Original document →
  Among the 90 funds we follow that invest in bonds, 23 charge a lower management fee and 48 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended June 30, 2026) the fund paid $0.34 a share. $0.31 of that was income; $0.03 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of June 30, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (June 30, 2026): $6.50. The shares traded at $5.86, about 9.9% below that. As of June 30, 2026, from the fund's yearly report. Original document →
• How the holdings did: up 1.3% over the last three months we have (April-June 2026), before the share price is taken into account. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 1994.

How this has changed

• Payouts per share: $0.34 in the fiscal year ended June 30, 2026; $0.34 in the year ended June 30, 2025; $0.33 in the year ended June 30, 2024.As of June 30, 2026, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.03 in the year ended June 30, 2026; $0.01 in the year ended June 30, 2025; $0.02 in the year ended June 30, 2024.As of June 30, 2026, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 3.34% a year in the fiscal year ended June 30, 2026; 3.59% a year in the year ended June 30, 2025; 3.91% a year in the year ended June 30, 2024.As of June 30, 2026, from the fund's annual report. Original document →
• Size of the holdings: about $61.5 million at June 30, 2026; $62.3 million at June 30, 2025; $61.4 million at June 30, 2024. From the fund's quarterly holdings reports. Original documents: June 30, 2026 →, June 30, 2025 →, June 30, 2024 →.
• Borrowing: none at June 30, 2026; none at June 30, 2025; none at June 30, 2024. From the fund's quarterly holdings reports. Original documents: June 30, 2026 →, June 30, 2025 →, June 30, 2024 →.
• The fund had about 9.47 million shares at June 30, 2026, about the same as at June 30, 2024.As of June 30, 2026, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended June 30, 2026: the shares returned -1.3%, counting payouts; the holdings +4%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of June 30, 2026, from the fund's annual report. Original document →
• The year ended June 30, 2025: the shares returned +11.1%, counting payouts; the holdings +7.6%. As of June 30, 2025, from the fund's annual report. Original document →
• The year ended June 30, 2024: the shares returned +8.9%, counting payouts; the holdings +6.5%. As of June 30, 2024, from the fund's annual report. Original document →
• The year ended June 30, 2023: the shares returned +0.8%, counting payouts; the holdings +2.6%. As of June 30, 2023, from the fund's annual report. Original document →
• The year ended June 30, 2022: the shares returned -13.9%, counting payouts; the holdings -12%. As of June 30, 2022, from the fund's annual report. Original document →
• Those five years together: the shares returned +3.6%. $10,000 of shares bought at the start (July 1, 2021) would have become about $10,400 by June 30, 2026, with every payout counted, before tax. As of June 30, 2026, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to June 30, 2026: +3.7%. The quarterly reports carry no share price, so this is the holdings alone. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Of the 51 funds that invest in bonds with a fiscal year ending within six months of this one, 40 reported a higher share return for that year and 10 a lower one. As of June 30, 2026, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly bonds (29%), the rest mortgage bonds, derivatives and asset-backed bonds. About 90% issued in the U.S.

1. Derivatives - 33.4%
2. Fannie Mae Pool - 11.4%
3. Fannie Mae - CAS - 5.4%
4. Freddie Mac STACR REMIC Trust 2023-HQA1 - 3.4%
5. Freddie Mac - 3.1%
6. Connecticut Avenue Securities Trust 2023-R06 - 2.3%
7. DB Master Finance LLC - 1.8%
8. Connecticut Avenue Securities Trust 2023-R04 - 1.7%
9. Subway Funding LLC - 1.6%
10. Wingstop Funding LLC - 1.6%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →