Form N-Q

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         811-21494         

        Nuveen Floating Rate Income Fund         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Jessica R. Droeger—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:            07/31          

Date of reporting period:          04/30/05         

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

Portfolio of Investments (Unaudited)
Nuveen Floating Rate Income Fund (JFR)
April 30, 2005
            Weighted                 
Principal            Average    Stated    Ratings*         
   Amount (000) Description(1)        Coupon    Maturity*    Moody's    S&P    Value 
 
 
    VARIABLE RATE SENIOR LOAN INTERESTS(2) - 128.2% (78.3% of total assets)                         
    Aerospace & Defense - 0.5% (0.3% of total assets)                         
       $ 2,449    Vought Aircraft Industries, Inc., Term Loan        5.350%    12/22/11    Ba3    B+    $ 2,487,032 
545    Vought Aircraft Industries, Inc., Tranche B, Letter of Credit        5.190%    12/22/10    Ba3    B+    553,636 
 
                            3,040,668 
 
    Airlines - 1.8% (1.1% of total assets)                         
11,908    United Air Lines, Inc., DIP Term Loan (Tranche B) (a)        7.500%    9/30/05    N/R    N/R    11,987,592 
 
    Auto Components - 5.1% (3.1% of total assets)                         
5,659    Accuride Corporation, Term Loan        5.356%    1/31/10    B2    B+    5,663,577 
17,662    Federal-Mogul Corporation, Term Loan A (a)        5.310%    2/24/04    N/R    N/R    15,891,385 
2,000    Federal-Mogul Corporation, Term Loan B (a)        5.560%    2/24/05    N/R    N/R    1,823,125 
6,000    Goodyear Tire & Rubber Company, Second Lien Term Loan (b)        5.890%    4/30/10    B2    B+    5,960,358 
1,000    Goodyear Tire & Rubber Company, Term Loan (b)        4.840%    4/30/10    Ba3    BB    1,003,125 
4,000    Goodyear Tire & Rubber Company, Third Lien Term Loan (b)        6.640%    3/01/11    B3    B-    3,810,000 
 
                            34,151,570 
 
    Beverages - 1.8% (1.1% of total assets)                         
2,493    Constellation Brands, Inc., Term Loan        4.990%    11/30/11    Ba2    BB    2,517,231 
9,230    Dr. Pepper/Seven UP Bottling Group, Inc., Term Loan B        5.320%    12/19/10    B1    N/R    9,393,873 
 
                            11,911,104 
 
    Building Products - 5.3% (3.2% of total assets)                         
7,494    Masonite Corporation, Canadian Term Loan        7.250%    3/21/13    B2    BB+    7,505,326 
7,506    Masonite Corporation, Term Loan B        6.750%    5/13/11    B2    BB+    7,518,112 
14,925    Nortek, Inc., Term Loan B        5.340%    8/27/11    B2    B    15,139,547 
4,675    PP Holding Corporation, Term Loan        5.350%    11/12/11    B1    B    4,733,438 
 
                            34,896,423 
 
    Chemicals - 8.5% (5.2% of total assets)                         
1,820    Celanese Holdings LLC, Delayed Draw Term Loan (c)        0.750%    4/06/11    N/R    B+    28,820 
7,673    Celanese Holdings LLC, Term Loan C        5.625%    4/06/11    B1    B+    7,818,557 
1,333    Headwaters Incorporated, Second Lien Term Loan        8.650%    9/01/12    B3    B-    1,361,944 
1,383    Headwaters Incorporated, Term Loan B        5.400%    4/30/11    B1    B+    1,403,814 
12,872    Hercules Incorporated, Term Loan        4.872%    10/08/10    Ba1    BB    13,057,530 
11,278    Huntsman International LLC, Term Loan B-1        5.500%    12/31/10    Ba3    B    11,478,543 
7,940    Lyondell-Citgo Refining LP, Term Loan        4.591%    5/21/07    N/R    N/R    8,064,063 
13,000    Rockwood Specialties Group, Inc., Tranche D        5.430%    7/30/12    B1    B+    13,166,563 
 
                            56,379,834 
 
    Commercial Services & Supplies - 4.2% (2.6% of total assets)                         
4,,365    Allied Waste North America, Inc., Letter of Credit        3.100%    3/21/12    B1    BB    4,378,232 
11785    Allied Waste North America, Inc., Term Loan B        5.180%    3/12/21    B1    BB    11,825,982 
6,948    National Equipment Services, Inc., Term Loan        8.970%    8/17/10    B3    B    7,095,134 
4,437    Williams Scotsman, Inc., Term Loan        5.970%    12/31/06    B1    B+    4,497,921 
 
                            27,797,269 
 
    Containers & Packaging - 6.3% (3.9% of total assets)                         
5,816    BWAY Corporation, Term Loan B        5.250%    1/30/11    B1    B+    5,905,256 
17,955    Graham Packaging Company, L.P., Term Loan B        5.650%    10/07/11    B2    B    18,214,710 
5,000    Graham Packaging Company, L.P., Term Loan C        7.313%    3/15/12    B2    CCC+    5,130,625 
2,176    Owens-Illinois Group, Inc., Term Loan B        5.730%    4/01/08    B1    N/R    2,220,128 
699    Smurfit-Stone Container Corporation, Deposit-Funded Commitment        2.100%    11/01/11    Ba3    BB-    711,412 
5,569    Smurfit-Stone Container Corporation, Term Loan B        4.800%    11/01/11    Ba3    BB-    5,663,998 
1,714    Smurfit-Stone Container Corporation, Term Loan C        4.920%    11/01/11    Ba    BB-    1,742,769 
2,459    United States Can Company, Term Loan B        6.940%    1/15/10    B3    B    2,471,085 
 
                            42,059,983 
 
    Diversified Telecommunication Services - 2.5% (1.5% of total assets)                         
5,500    Fairpoint Communications, Inc., Term Loan        5.170%    2/15/12    B1    BB-    5,570,125 
3,990    Intelsat, Ltd., Term Loan B        4.630%    7/06/11    B1    BB+    4,022,918 
5,500    Qwest Corporation, Term Loan B        6.950%    6/30/10    Ba3    BB-    5,377,625 
1,470    Valor Telecommunications Enterprises, LLC, Term Loan        5.075%    2/14/12    Ba3    BB-    1,488,375 
 
                            16,459,043 
 
    Electric Utilities - 2.8% (1.7% of total assets)                         
8,426    Allegheny Energy Supply Company, LLC, Term Loan        5.610%    3/08/11    Ba3    BB-    8,508,488 
9,899    Calpine Construction Finance Company, L.P., Term Loan B        8.860%    8/31/09    B1    B+    10,320,226 
 
                            18,828,714 
 
    Electrical Equipment - 0.7% (0.4% of total assets)                         
4736    Mueller Group, Inc., Term Loan        5.697%    4/25/11    B2    B+    4,791,985 
 
    Energy Equipment & Services - 1.3% (0.8% of total assets)                         
8,387    Pride Offshore, Inc., Term Loan        4.640%    7/07/11    Ba1    BB+    8,523,797 
 
    Food & Staples Retailing - 1.7% (1.0% of total assets)                         
10,905    The Jean Coutu Group, Inc., Term Loan B        5.500%    7/30/11    B1    BB    11,084,763 
 
    Food Products - 0.8% (0.5% of total assets)                         
5,000    Dole Holding Company, LLC, Term Loan        8.000%    7/22/10    B3    B    5,193,750 
 
    Gas Utilities - 1.7% (1.0% of total assets)                         
1,875    El Paso Corporation, Deposit-Funded Commitment        2.290 %    11/23/09    B3    B-    1,887,760 
9,052    El Paso Corporation, Term Loan        2.290 %    11/23/09    B3    B-    9,128,059 
 
 
                            11,015,819 
 
    Healthcare Equipment & Supplies - 2.7% (1.7% of total assets)                         
5,000    Advanced Medical Optics, Inc., Delayed Draw Term Loan (c)        0.250%    7/07/09    B1    BB-    46,875 
11,223    Advanced Medical Optics, Inc., Term Loan B        4.840%    6/25/09    B1    BB-    11,394,710 
6,691    Kinetic Concepts, Inc., Term Loan B-2        4.850%    8/11/10    Ba3    BB    6,798,045 
 
                            18,239,630 
 
    Healthcare Providers & Services - 5.2% (3.2% of total assets)                         
4,937    Beverly Enterprises, Inc., Term Loan B        5.649%    10/22/08    Ba3    BB    4,981,603 
15,394    IASIS Healthcare LLC, Term Loan B        5.370%    6/22/11    B1    B+    14,130,931 
1,000    Lifepoint Hospitals Holdings, Inc., Term Loan B        4.584%    9/30/11    Ba3    BB    1,003,125 
3,000    Select Medical Corporation, Term Loan        4.630%    2/24/12    B1    BB-    2,995,875 
2,000    Vanguard Health Holding Company, LLC, Delayed Draw Term Loan (c)        2.250%    9/23/05    B2    B    26,875 
5,985    Vanguard Health Holding Company, LLC, Initial Sub Tranche 2 Term Loan        6.350%    9/23/11    B2    B    6,104,700 
4,975    Vanguard Health Holding Company, LLC, Term Loan B        6.340%    9/23/11    B2    B    5,072,945 
 
                            34,316,054 
 
    Hotels, Restaurants & Leisure - 11.4% (6.9% of total assets)                         
10,034    24 Hour Fitness Worldwide, Inc., Term Loan B        6.250%    7/01/09    B1    B    10,197,354 
1,121    Ameristar Casinos, Inc., Incremental Term Loan        5.063%    12/20/06    B3    BB    1,139,427 
3,203    Ameristar Casinos, Inc., Term Loan B-1        5.063%    12/20/06    Ba3    BB    3,257,266 
5,955    Boyd Gaming Corporation, Term Loan B        5.130%    6/30/11    Ba2    BB    6,035,023 
2,970    Jack in the Box Inc., Term Loan        4.850%    1/09/10    Ba2    BB    3,016,330 
14,481    OpBiz, LLC, Term Loan A        6.100%    8/31/10    B3    B-    14,544,666 
35    OpBiz, LLC, Term Loan B (PIK)        6.560%    8/31/10    B3    B-    34,888 
9,975    Universal City Development Partners, LTD, Term Loan        4.904%    6/09/11    Ba3    BB-    10,130,859 
1,709    Venetian Casino Resort, LLC, Delayed Draw Term Loan (c)        0.750%    6/15/11    B1    B+    7,479 
8,291    Venetian Casino Resort, LLC, Term Loan        4.810%    6/15/11    B1    B+    8,349,669 
9,588    Wyndham International, Inc., Term Loan I        7.688%    6/30/06    Caa1    B    9,613,482 
9,464    Wyndham International, Inc., Term Loan II        8.688%    4/01/06    B3    CCC+    9,495,035 
 
                            75,821,478 
 
 
    Household Durables - 2.7% (1.7% of total assets)                         
18,091    Sealy Mattress Company, Term Loan D        4.940%    4/06/12    B1    B+    18,196,081 
 
    Household Products - 1.5% (0.9% of total assets)                         
10,026    Prestige Brands, Inc., Term Loan B        5.380%    4/06/11    B1    B+    10,172,106 
 
    Insurance - 4.1% (2.5% of total assets)                         
26,849    Conseco, Inc., Term Loan        6.564%    6/22/10    B2    BB-    27,375,020 
 
    IT Services - 2.8% (1.7% of total assets)                         
18,500    Fidelity National, Term Loan B        4.651%    3/09/13    Ba3    BB    18,453,750 
 
    Machinery - 0.7% (0.4% of total assets)                         
2,222    Dresser-Rand Group Inc., Term Loan        5.360%    10/10/10    B1    B+    2,257,706 
2,238    Terex Corporation, Term Loan B        4.890%    7/03/09    B1    BB-    2,269,595 
 
                            4,527,301 
 
    Marine - 0.8% (0.5% of total assets)                         
4,963    Horizon Lines, LLC, Term Loan        5.620 %    7/11/11    B2    B    4,991,446 
 
    Media - 30.8% (18.8% of total assets)                         
4,954    Advertising Directory Solutions Inc., Term Loan B        5.070%    11/09/11    B1    BB-    4,973,357 
1,934    American Media Operations, Inc., Term Loan C        5.875%    4/01/07    Ba3    B+    1,967,008 
17,000    Century Cable Holdings, LLC, Discretionary Term Loan (a)        7.750%    12/31/09    N/R    N/R    16,842,750 
7,000    Century Cable Holdings, LLC, Revolver (a)        6.750%    10/25/10    N/R    N/R    6,891,721 
2,000    Century Cable Holdings, LLC, Term Loan (a)        7.750%    6/30/09    N/R    N/R    1,983,214 
12,000    Charter Communications Operating, LLC, Term Loan A        6.190%    4/07/11    B2    B    9,828,852 
9,925    Charter Communications Operating, LLC, Term Loan B        6.440 %    4/07/11    B2    B    9,828,852 
2,361    Dex Media East, LLC, Term Loan B        4.600 %    11/10/08    Ba2    BB-    2,399,306 
3,482    Dex Media West, LLC, Term Loan A        4.981 %    9/09/09    Ba2    BB-    3,532,577 
9,421    Dex Media West, LLC, Term Loan B        4.780 %    3/09/10    Ba2    BB-    9,568,532 
7,000    DirecTV Group, Term Loan B        4.454%    4/08/13    Ba1    BB    7,028,875 
15,953    Emmis Operating Company, Term Loan        4.660%    11/10/11    Ba2    B+    16,176,282 
14,620    Loews Cineplex Entertainment Corporation, Term Loan B        5.199%    6/30/11    B1    B    14,864,472 
25,000    Metro-Goldwyn-Mayer Studios, Inc., Term Loan B        5.380%    4/12/12    N/R    N/R    25,058,600 
16,849    Panamsat Corporation, Term Loan B        5.310%    8/20/11    Ba3    BB+    17,100,521 
4,359    R.H. Donnelley Inc., Tranche D        4.800%    6/30/11    Ba3    N/R    4,419,491 
5,000    Rainbow Media Holdings LLC, Term Loan        5.690%    3/31/12    N/R    N/R    5,075,520 
16,605    Regal Cinemas Corporation, Term Loan        5.093%    11/10/10    Ba3    BB-    16,868,935 
8,000    UPC Financing Partnership, Term Loan        5.752%    9/30/12    B1    B    8,012,572 
20,795    WMG Acquisition Corp., Term Loan        5.320%    2/27/11    B1    B+    20,989,915 
 
                            205,423,638 
 
    Metals & Mining - 3.2% (2.0% of total assets)                         
7,413    Amsted Industries Incorporated, Term Loan B        5.900%    10/15/10    B1    BB-    7,531,549 
13,516    Foundation PA Coal Company, Term Loan B        5.029%    7/30/11    Ba3    BB-    13,729,962 
 
                            21,261,511 
 
    Multi-Utilities & Unregulated Power - 2.4% (1.5% of total assets)                         
2,188    NRG Energy, Inc., Credit-Linked Deposit        2.993%    12/24/11    Ba3    BB    2,215,117 
2,085    NRG Energy, Inc., Term Loan        5.250%    12/20/11    Ba3    BB    2,840,888 
10,973    Reliant Energy, Inc., Term Loan        6.040%    4/30/10    B1    B+    10,986,216 
 
                            16,042,221 
 
    Paper & Forest Products - 1.9% (1.1% of total assets)                         
6,231    Boise Cascade Holdings, L.L.C., Term Loan D        4.740%    3/29/11    Ba3    N/R    6,297,569 
3,000    NewPage Corporation, Term Loan B (b)        6.379%    5/02/05    B1    B    3,018,750 
3,000    White Birch Paper Company, Second Lien Term Loan        12.250%    3/31/13    B3    B-    3,018,750 
 
                            12,335,069 
 
    Pharmaceuticals - 0.8% (0.5% of total assets)                         
5,000    Talecris Biotherapeutics Inc., Term Loan B        6.170%    3/31/10    N/R    N/R    5,025,000 
 
    Real Estate - 10.5% (6.4% of total assets)                         
20737    General Growth Properties, Inc., Term Loan B        5.100%    11/12/08    Ba2    BB+    20,906,792 
21,560    LNR Property Corp., Term Loan        5.810%    2/03/08    B2    B+    21,675,220 
2,000    LNR Property Corp., Term Loan B        8.060%    2/03/08    B2    B+    2,023,333 
12,000    Macerich Company, Incremental Term        6.250%    4/25/10    N/R    N/R    12,015,000 
8,000    Macerich Company, Term Loan        6.250%    4/25/10    N/R    N/R    8,000,000 
5,000    Maguire Properties, Term Loan        4.621%    3/15/10    Ba2    BB    5,037,500 
 
                            69,657,845 
 
    Specialty Retail - 0.5% (0.3% of total assets)                         
3,000    Movie Gallery Inc., Term Loan B (c)        6.140%    4/01/11    B1    B+    3,026,250 
 
    Textiles & Apparel - 0.7% (0.5% of total assets)                         
4,850    Jostens IH Corp., Term Loan C        5.190%    7/29/10    B1    B+    4,926,286 
 
    Trading Companies & Distributors - 0.5% (0.3% of total assets)                         
3,000    Ashtead Group Public Limited Company, Term Loan        5.063%    11/12/09    N/R    BB-    3,043,125 
 
    Total Variable Rate Senior Loan Interests (cost $846,102,203)                        850,956,125 
 
 
Principal                Stated    Ratings**         
   Amount (000) Description(1)        Coupon    Maturity    Moody's    S&P    Value 
 
    CORPORATE BONDS - 20.2% (12.4% of total assets)                         
    Containers & Packaging - 0.6% (0.4% of total assets)                         
3,795    Smurfit Capital Funding Corporation        6.750%    11/20/05    B1    BB-    3,813,975 
 
    Food Products - 0.7% (0.4% of total assets)                         
1000    Dean Foods Company        6.750%    6/15/05    Ba2    BB-    1,005,000 
1,528    Dole Foods Co        8.625%    5/01/09    B2    B+    1,615,860 
1,780    Dole Foods Co        8.875%    3/15/11    B2    B+    1,895,700 
 
                            4,516,560 
 
    Hotels, Restaurants & Leisure - 8.1% (5.0% of total assets)                         
9,505    Aztar Corporation        9.000%    8/15/11    Ba3    B+    10,217,875 
11,330    Harrahs Entertainment        7.875%    12/15/05    Ba1    BB+    11,613,250 
2,000    MGM Grand        7.250%    10/15/06    Ba1    BB+    2,065,000 
5,425    MGM Mirage        9.750%    6/01/07    Ba2    BB-    5,872,563 
9,197    Park Place Entertainment        7.875%    12/15/05    Ba2    BB-    9,392,436 
2,000    Park Place Entertainment        8.500%    11/15/06    Ba1    BB+    2,120,000 
12,076    Park Place Entertainment        9.375%    2/15/07    Ba2    BB-    12,936,415 
 
                            54,217,539 
 
    Household Durables - 4.3% (2.6% of total assets)                         
5,000    Beazer Homes USA        8.375%    4/15/12    Ba1    BB    5,325,000 
4,000    D.R. Horton, Inc.        9.375%    7/15/09    Ba1    BB+    4,206,496 
2,000    K. Hovnanian Enterprises        10.500%    10/01/07    Ba2    BB    2,230,000 
8,000    K. Hovnanian Enterprises        8.000%    4/01/12    Ba2    BB    8,520,000 
5,000    KB Home        7.750%    2/01/10    Ba2    BB-    5,259,020 
3,000    Standard Pacific Corporation        9.500%    9/15/10    Ba2    BB    3,180,000 
 
                            28,720,516 
 
    Machinery - 2.1% (1.3% of total assets)                         
13,400    Navistar International, Series B        9.375%    6/01/06    Ba3    BB-    13,869,000 
 
    Media - 2.3% (1.4% of total assets)                         
10,000    Cablevision Systems Corp, Floating Rate Note, 4.500% plus six-month LIBOR        7.909%    4/01/09    B3    B+    10,250,000 
5,000    Loews Cineplex Entertainment Corporation (b)        9.000%    8/01/14    B3    CCC+    4,825,000 
 
                            15,075,000 
 
    Oil & Gas - 0.6% (0.4% of total assets)                         
4,000    Tesoro Petroleum Corporation        8.000%    4/15/08    Ba2    BBB-    4,210,000 
 
    Paper & Forest Products - 1.5% (0.9% of total assets)                         
5,000    Georgia Pacific        8.125%    5/15/11    Ba3    BB+    5,493,750 
4,000    Georgia Pacific        9.375%    2/01/13    Ba2    BB+    4,475,000 
 
                            9,968,750 
 
    Total Corporate Bonds (cost $136,643,124)                        134,391,340 
 
 
 
   Shares (000) Description(1)                        Value 
 
    WARRANTS - 0.0% (0.0% of total assets)                         
    Multi-Utilities & Unregulated Power - 0.0% (0.0% of total assets)                         
36    Reliant Energy, Inc.                        216,953 
 
    Total Warrants (cost $257,912)                        216,953 
 
 
Principal                Stated    Ratings**         
   Amount (000) Description(1)            Maturity    Moody's    S&P    Value 
 
    HIGH-GRADE SHORT-TERM INVESTMENTS - 8.9% (5.4% of total assets)                         
    U.S. Treasury Bills - 0.4% (0.3% of total assets)                         
        $ 3,000    U.S. Treasury Bill, 2.960%            10/27/05    Aaa    AAA    2,954,206 
 
    Euro Dollar Time Deposits - 8.5% (5.1% of total assets)                         
56,282    State Street Bank Euro Dollar Time Deposit, 2.700%, 5/02/05                        56,281,712 
 
    Total High-Grade Short-Term Investments (cost $59,235,918)                        59,235,918 
 
 
    Total Investments (cost $1,042,239,157) - 157.3% (96.1% of total assets)                        1,044,800,336 
 
 
    Other Assets Less Liabilities - 2.9%                        19,202,789 
 
 
    Preferred Shares, at Liquidation Value (60.2)%                        (400,000,000) 
 
 
    Net Assets Applicable to Common Shares - 100%                        $664,003,125 
 
 
 
    Select Aggregate Market Index ("SAMI")                         
 
 
    The Fund held the following SAMIs at April 30, 2005:                         
 
 
                            Unrealized 
        Notional            Termination        Appreciation/ 
     Counterparty    Amount    Fixed Rate        Date        (Depreciation) 
 
 
     Credit Suisse First Boston    $4,200,000    2.300%        03/20/09        $ 1,922 
     Credit Suisse First Boston    8,800,000    2.150%        12/20/09        (1,645) 
 
 
                            $ 277 

(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares 
    unless otherwise noted. 
 
(2)    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. 
 
*    Senior Loans in the Fund's portfolio 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 in the Fund's portfolio may occur. As a result, the actual 
    remaining maturity of Senior Loans held in the Fund's portfolio may be substantially less than the stated 
    maturities shown. The Fund estimates that the actual average maturity of the Senior Loans held in its 
    portfolio will be approximately 18-24 months. 
 
**    Ratings below Baa by Moody's Investor Service, Inc. or BBB by Standard & Poor's Group are considered to 
    be below investment grade. 
 
(a)    At or subsequent to April 30, 2005, this issue was under the protection of the federal bankruptcy court. 
 
(b)    Purchased on a when-issued or delayed delivery basis. 
 
(c)    Position represents an unfunded loan commitment outstanding at April 30, 2005. The Fund had unfunded 
    loan commitments of $10,529,669 at April 30, 2005. 
 
(PIK)    In lieu of cash payment, interest accrued on "Payment in Kind" investment increases principal outstanding. 
 
N/R    Investment is not rated. 

Income Tax Information     
 
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 timing differences in recognizing certain     
gains and losses on investment transactions and recognition of premium amortization.     
 
At April 30, 2005, the cost of investments was $1,045,343,120.     
 
Gross unrealized appreciation and gross unrealized depreciation of investments at April 30, 2005,     
were as follows:     
 
Gross unrealized:     
 Appreciation    $5,995,200 
 Depreciation    (6,537,984) 
 
 
Net unrealized (depreciation) appreciation of investments    $ (542,784) 

Item 2. Controls and Procedures.

  1. 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)).
  2. 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 Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         06/29/05        

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.

By (Signature and Title)*         /s/ Gifford R. Zimmerman--Chief Administrative Officer (principal executive officer)        

Date         06/29/05        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)        

Date         06/29/05        

* Print the name and title of each signing officer under his or her signature.