JPC - Nuveen Preferred & Income Opportunities Fund

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Oct 2, 2026

   The fund said it may sell new shares.

   Original document →

2. Aug 31, 2026

   The fund said it may sell new shares.

   Original document →

3. June 16, 2026

   The fund said it may sell new shares.

   Original document →

4. June 12, 2025

   The fund said it may sell new shares.

   Original document →

5. June 10, 2025

   The fund proposed taking in JPI, TFP; holders of that fund would become holders of this one. Holders vote on July 25, 2025.

   Original document →

About this fund

• Run by Nuveen Fund Advisors, LLC. Part of the Nuveen fund family. As of July 31, 2026, from the fund's yearly report. Original document →
• Size: about $2.91 billion of holdings, as of July 31, 2026. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 31% on top of its own money, as of July 31, 2026. Borrowed money makes gains and losses bigger. About 32% of that is money the fund has borrowed by selling preferred shares. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• The fund's own example of what borrowing does: in a year in which the holdings returned -10%, a share would return about -19%; at +10%, about +13.2%. As of July 31, 2026, from the fund's annual report. Original document →
• Costs: 0.7% a year in management fees; 4.1% a year in total, including interest on borrowed money. Fiscal year ended July 31, 2026. As of July 31, 2026, from the fund's yearly report. Original document →
  Among the 14 funds we follow that invest in preferred shares, one charges a lower management fee and 5 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.
• The fund's own cost example: $1,000 invested costs about $51 in the first year and about $435 over 10 years, assuming the holdings return 5% a year. As of July 31, 2026, from the fund's annual report. Original document →
• Payouts: last fiscal year (ended July 31, 2026) the fund paid $0.77 a share. $0.54 of that was income; $0.23 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 July 31, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (July 31, 2026): $7.74. The shares traded at $7.69, about 0.7% below that. As of July 31, 2026, from the fund's yearly report. Original document →
  Over the last two years the gap (a "discount" when the price is below the value) ranged from 7.6% below to 2.2% above. As of July 31, 2026, from the fund's annual report. Original document →
• How the holdings did: up 0.1% over the last three months we have (May-July 2026), before the share price is taken into account. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2003.

How this has changed

• Payouts per share: $0.77 in the fiscal year ended July 31, 2026; $0.80 in the year ended July 31, 2025; $0.59 in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.23 in the year ended July 31, 2026; $0.24 in the year ended July 31, 2025; none in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 4.1% a year in the fiscal year ended July 31, 2026; 4.67% a year in the year ended July 31, 2025; 5.2% a year in the year ended July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
• Size of the holdings: about $2.91 billion at July 31, 2026; $2.61 billion at July 31, 2025; $2.56 billion at July 31, 2024. From the fund's quarterly holdings reports. Original documents: July 31, 2026 →, July 31, 2025 →, July 31, 2024 →.
• Borrowing: about 31% on top of its own money at July 31, 2026; 30% at July 31, 2025; 31% at July 31, 2024. From the fund's quarterly holdings reports. Original documents: July 31, 2026 →, July 31, 2025 →, July 31, 2024 →.
• The fund had about 376 million shares at July 31, 2026, up 17.8% from July 31, 2024.As of July 31, 2026, from the fund's annual report. Original document →
  In between, the fund said it may sell new shares. 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 July 31, 2026: the shares returned +4.9%, counting payouts. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of July 31, 2026, from the fund's annual report. Original document →
• The year ended July 31, 2025: the shares returned +16.1%, counting payouts; the holdings +10.3%. As of July 31, 2025, from the fund's annual report. Original document →
• The year ended July 31, 2024: the shares returned +26.7%, counting payouts; the holdings +16.2%. As of July 31, 2024, from the fund's annual report. Original document →
• The year ended July 31, 2023: the shares returned -12.6%, counting payouts; the holdings -4.5%. As of July 31, 2023, from the fund's annual report. Original document →
• The year ended July 31, 2022: the shares returned -11.9%, counting payouts; the holdings -9.1%. As of July 31, 2022, from the fund's annual report. Original document →
• Those five years together: the shares returned +18.8%. $10,000 of shares bought at the start (Aug 1, 2021) would have become about $11,900 by July 31, 2026, with every payout counted, before tax. As of July 31, 2026, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to July 31, 2026: +6.4%. The quarterly reports carry no share price, so this is the holdings alone. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 5 funds that invest in preferred shares with a fiscal year ending within six months of this one, 3 reported a higher share return for that year and 1 a lower one. As of July 31, 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 (88%), the rest preferred shares and derivatives. About 53% issued in the U.S.

1. Derivatives - 5.3%
2. Banco Santander SA - 4.2%
3. ING Groep NV - 3.6%
4. Bank of America - 3.2%
5. Barclays PLC - 3.1%
6. UBS Group AG - 2.8%
7. NatWest Group PLC - 2.7%
8. JPMorgan Chase & - 2.4%
9. HSBC Holdings PLC - 2.4%
10. Truist Financial - 2.3%

As of July 31, 2026, from the fund's quarterly holdings report. Original document →