Nuveen Preferred Securities and Income Fund
Actively managed global bond fund
As of its 2026 Q2 report, Nuveen Preferred Securities and Income Fund held 223 positions with $6.06B in net assets. Its ten largest holdings made up 20.6% of the fund. The NPSAX share class costs 1% a year. Over the 12 months to May 2026, NPSAX returned 9.2%, with dividends reinvested. In 2026 Q2 it added 16 new positions and exited 22.
The Fund seeks to provide a high level of current income and total return.
The fund invests at least 80% of assets in preferred securities and hybrid securities issued by financial and non-financial companies, along with contingent capital securities (CoCos) from non-U.S. financial institutions; a sub-adviser constructs the portfolio by analyzing credit risk, diversification, call protection, and yield curve positioning to identify attractive risk-adjusted income and value. The fund holds at least 50% in investment-grade securities at purchase and may hold up to 50% in high-yield securities. Because the fund's selection depends on the sub-adviser's credit and valuation judgments, portfolio composition will vary with those assessments.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
STATE STR NAVIGATOR SECS L TR | 4.09% | $247.85M | — |
US 10YR NOTE (CBT)Sep26 | 3.57% | $216.47M | — |
UBS Group AG 9.25% | 2.25% | $136.11M | — |
Barclays PLC 9.63% | 1.76% | $106.75M | — |
NatWest Group PLC 8.13% | 1.61% | $97.46M | — |
Banco Santander SA 9.63% | 1.51% | $91.69M | — |
Banco Santander SA 8.00% | 1.50% | $91.18M | — |
SBL HOLDINGS INC 9.51% | 1.50% | $91.15M | — |
NatWest Group PLC 7.30% | 1.48% | $89.52M | — |
Bank of Montreal 7.30% · due 2084-11-26 | 1.37% | $83.29M | — |
The 200 largest of 223 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 91.04% |
| Stocks | 8.38% |
| Derivatives | 5.51% |
| Cash & short-term | 4.24% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Financials
- 39.0%
- International
- 32.1%
- Other
- 15.6%
- Cash
- 3.7%
- 7 other sectors
- 9.5%
- Financials
- 39.0%
- International
- 32.1%
- Other
- 15.6%
- Cash
- 3.7%
- Utilities
- 3.6%
- Consumer Staples
- 2.9%
- Energy
- 1.8%
- Government
- 0.5%
- Industrials
- 0.5%
- Health Care
- 0.2%
- Communication Services
- 0.1%
How it has done
NPSAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.98%. Past returns are a record, not a forecast.
The 4 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.00% | +9.22% | +34.38% | +18.93% | -2.48% | |
| 1.75% | +8.43% | +31.41% | +14.61% | -2.54% | |
| 0.75% | +9.63% | +35.50% | +20.55% | -2.46% | |
| 0.68% | +9.62% | +35.63% | +20.91% | -2.44% |
These classes hold the same portfolio, so the 6.30pp spread over 5 years is the cost difference between them — roughly 1.26pp a year — not a difference in what they own.
Fees & fund details
Nuveen Preferred Securities and Income Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.68% – 1.75%· NPSAX 1.00%
- Portfolio turnover
- 28.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
16 new· the largest 8
22 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 99.0% |
| Floating rate | 1.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 3-5y | 0.1% |
| 10y+ | 25.9% |
| Unknown | 74.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 52% |
| Interest rates | 48% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.87 yr |
| High yield | +2.09 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.42 yr | 9% |
| 1 yr | 0.04 yr | 1% |
| 5 yr | 0.00 yr | 0% |
| 10 yr | 0.09 yr | 2% |
| 30 yr | 3.98 yr | 88% |
| 1 yr | 0.00 yr | 0% |
| 5 yr | 0.00 yr | 0% |
| 10 yr | 0.13 yr | 3% |
| 30 yr | 4.82 yr | 97% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.42 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.04 | +0.00 | +0.00 | $841 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $1.4k | $0 |
| 10 yr | +0.09 | +0.09 | +0.04 | $54.8k | $23.4k |
| 30 yr | +3.98 | +2.77 | +2.05 | $1.68m | $1.24m |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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