Edgar Filing: Nuveen Mortgage Opportunity Term Fund 2

Nuveen Mortgage Opportunity Term Fund 2

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 811-22374

Nuveen Mortgage Opportunity Term Fund 2

(Exact name of registrant as specified in charter)

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman—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: December 31

Date of reporting period: September 30, 2017

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

JMT


Nuveen Mortgage Opportunity Term Fund 2
Portfolio of Investments		September 30, 2017 (Unaudited)


Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		LONG-TERM INVESTMENTS – 136.2% (98.6% of Total Investments)

		ASSET-BACKED SECURITIES – 15.1% (10.9% of Total Investments)

$	770	Atlas Senior Loan Fund Ltd, Series 2012 -2A, 144A, (3-Month LIBOR reference rate + 3.900% spread), (3)		5.211%		1/30/24		BBB+	$	772,288
	400	Avery Point CLO Limited, Series 2014-5A, 144A, (3-Month LIBOR reference rate + 3.100% spread), (3)		4.404%		7/17/26		Baa3		401,370
	250	BlueMountain Collateralized Loan Obligation, Series 2014-1A, 144A, (3-Month LIBOR reference rate + 3.450% spread), (3)		4.761%		4/30/26		BBB		250,347
	680	Bowman Park CLO Limited, Series 2014-1A, 144A, (3-Month LIBOR reference rate + 3.350% spread), (3)		4.664%		11/23/25		BBB–		684,213
	275	CIFC Funding Limited, Series 2012-2A, 144A, (3-Month LIBOR reference rate + 3.650% spread), (3)		4.968%		12/5/24		BBB		276,010
	300	CIFC Funding Limited, Series 2012-3A, 144A, (3-Month LIBOR reference rate + 4.000% spread), (3)		5.311%		1/29/25		BBB+		301,207
	625	CIFC Funding Limited, Series 2014-3A, 144A, (3-Month LIBOR reference rate + 3.150% spread), (3)		4.463%		7/22/26		Baa3		625,044
	175	CPS Auto Trust, 144A		2.300%		7/15/21		AA		174,704
	1,256	DT Auto Owner Trust, Series 2017-2A, 144A		2.440%		2/15/21		AA		1,257,298
	290	Green Tree Agency Funding Trust, Manufactured Housing Contract Pass Through Certificates, Series 2016-T1, 144A		2.380%		10/15/48		AAA		288,614
	550	Magnetite CLO Limited, Series 2012-7A, 144A, (3-Month LIBOR reference rate + 3.750% spread), (3)		5.054%		1/15/25		A2		556,629
	750	Octagon Investment Partners, Series 2013-1A, 144A, (3-Month LIBOR reference rate + 3.050% spread), (3)		4.364%		10/25/25		BBB		750,224
	270	Octagon Investment Partners, Series 2014-1A, 144A, (3-Month LIBOR reference rate + 3.500% spread), (3)		4.804%		4/15/26		Baa2		270,228
	1,225	OneMain Financial Issuance Trust, Series 2016-2A, 144A		4.100%		3/20/28		A+		1,246,227
	1,196	Prestige Auto Receivables Trust, Series 2016-2A, 144A		3.910%		11/15/22		BBB		1,210,147
	251	Prosper Marketplace Issuance Trust, Series 2017-2A, 144A		3.480%		9/15/23		BBB-		251,586
	235	Seneca Park CLO Limited, Asset Backed Securities, Series 2014-1A, 144A, (3-Month LIBOR reference rate + 3.500% spread), (3)		4.804%		7/17/26		Baa3		236,314
	175	SLM Student Loan Trust 2003-4, 144A, (3-Month LIBOR reference rate + 0.750% spread), (3)		2.070%		3/15/33		AAA		175,013
	452	SLM Student Loan Trust 2003-7A, 144A, (3-Month LIBOR reference rate + 1.200% spread), (3)		2.520%		12/15/33		AAA		458,290
	1,079	SLM Student Loan Trust 2008-9 Class A, (3-Month LIBOR reference rate + 1.500% spread), (3)		2.814%		4/25/23		AA+		1,103,966
	586	SLM Student Loan Trust 2012-6, (1-Month LIBOR reference rate + 0.750% spread), (3)		1.987%		5/26/26		Ba1		582,579
	290	Sofi Consumer Loan Program Trust, Series 2017-1, 144A		3.280%		1/26/26		N/R		294,046
	438	Sofi Consumer Loan Program Trust, Series 2017-3, 144A		2.770%		5/25/26		AA		439,836
	489	Sofi Consumer Loan Program Trust, Series 2017-4, 144A		2.500%		5/26/26		AA		488,916
	1,600	Sofi Consumer Loan Program Trust, Series 2016-3, 144A		4.490%		12/26/25		N/R		1,655,489
	445	United Auto Credit Securitization Trust, Series 2017-1, 144A		5.090%		3/10/23		BB–		443,923
	750	Westlake Auto Receivables Trust, Series 2015-3A, 144A		5.890%		7/15/22		BB		769,219
	1,685	Westlake Auto Receivables Trust, Series 2017-1A, 144A		3.460%		10/17/22		BBB		1,694,362
	1,065	Westlake Auto Receivables Trust, Series 2017-2A, 144A		3.280%		12/15/22		BBB		1,062,501
$	18,552	Total Asset-Backed Securities (cost $18,669,204)								18,720,590

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES – 120.0% (86.9% of Total Investments)

$	925	280 Park Avenue Mortgage Trust, Series 2017-280P, 144A, (1-Month LIBOR reference rate + 2.119% spread), (3)		3.355%		9/15/34		BB–	$	907,852
	298	Angel Oak Mortgage Trust, Series 2016-1, 144A		3.644%		1/25/47		A		301,488
	735	Angel Oak Mortgage Trust, Series 2016-1, 144A		3.500%		7/25/46		N/R		737,652


NUVEEN			1


JMT	Nuveen Mortgage Opportunity Term Fund 2
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	498	Angel Oak Mortgage Trust, Series 2017-2, 144A		2.478%		7/25/47		AAA	$	496,223
	2,000	Argent Securities Inc., Asset-Backed Pass-Through Certificates, Series 2005-W2, (1-Month LIBOR reference rate + 0.490% spread), (3)		1.727%		10/25/35		BB		1,989,362
	516	Banc of America Alternative Loan Trust, Pass-Through Certificates, Series 2006-6		6.000%		7/25/46		Caa3		458,048
	925	Banc of America Merrill Lynch Large Loan Inc., Commercial Mortgage Pass-Through Certificates, Series 2015-200P, 144A		3.716%		4/14/33		BB–		894,279
	488	Banc of America Mortgage Securities Inc., Mortgage Pass-Through Certificates, Series 2007-1		6.000%		3/25/37		Caa3		466,873
	462	Bank of America Commercial Mortgage Inc. , Commercial Mortgage Pass-Through Certificates, Series 2006-1		5.879%		9/10/45		Baa1		461,644
	670	Bank of America Commercial Mortgage Inc. , Commercial Mortgage Pass-Through Certificates, Series 2015-UBS7, 144A		3.261%		9/15/48		BB–		426,559
	1,565	Bank of America Commercial Mortgage Inc. , Commercial Mortgage Pass-Through Certificates, Series 2015-UBS7		3.167%		9/15/48		BBB–		1,236,385
	1,446	Bank of America Funding Trust, 2007-A 2A1, (1-Month LIBOR reference rate + 0.160% spread), (3)		1.396%		2/20/47		CCC		1,393,483
	919	Bayview Opportunity Master Fund Trust, 2016-CRT1, 144A, (1-Month LIBOR reference rate + 1.750% spread), (3)		2.984%		10/27/27		A–		918,785
	1,700	Bayview Opportunity Master Fund Trust, 2017-CRT1, 144A, (1-Month LIBOR reference rate + 2.150% spread), (3)		3.384%		10/25/28		BBB–		1,702,419
	823	Bayview Opportunity Master Fund Trust, 2017-CRT2, 144A, (1-Month LIBOR reference rate + 2.000% spread), (3)		3.234%		11/25/27		BBB–		822,617
	298	Bayview Opportunity Master Fund Trust, 2017-NPL1, 144A		3.598%		1/28/32		N/R		296,910
	232	Bayview Opportunity Master Fund Trust, 2017-RN7, 144A		3.105%		9/28/32		N/R		232,000
	975	BB UBS Trust, Series 2012-SHOW, 144A		4.160%		11/5/36		Baa1		955,276
	1,716	BCAP LLC Trust, Mortgage Pass-Through Certificates, Series 2006-AA2, (1-Month LIBOR reference rate + 0.170% spread), (3)		1.407%		1/25/37		Caa3		1,557,350
	1,367	BCAP LLC Trust, Mortgage Pass-Through Certificates, Series 2007 AA1 2A1, (1-Month LIBOR reference rate + 0.180% spread), (3)		1.417%		3/25/37		Caa3		1,286,178
	1,139	Bear Stearns Adjustable Rate Mortgage Trust, Mortgage Pass-Through Certificate Series 2006-4		3.374%		10/25/36		N/R		1,135,842
	1,120	Bear Stearns Adjustable Rate Mortgage Trust, Pass-Through Certificates Series 2005-12		3.304%		2/25/36		Caa3		1,049,470
	518	Bear Stearns Adjustable Rate Mortgage Trust, Pass-Through Certificates, Series 2007-1		3.405%		2/25/47		N/R		456,643
	2,000	Carrington Mortgage Loan Trust, Asset Backed Pass-Through Certificates, Series 2005-NC5, (1-Month LIBOR reference rate + 0.480% spread), (3)		1.717%		10/25/35		BB		1,962,857
	1,042	Carrington Securities LP, Mortgage Loan Trust Asset-Backed Pass-Through Certificates Series 2007-HE1, (1-Month LIBOR reference rate + 0.150% spread), (3)		1.387%		6/25/37		Ba1		1,035,193
	1,119	Chaseflex Trust Series 2007-2, (1-Month LIBOR reference rate + 0.280% spread), (3)		1.517%		5/25/37		CCC		1,052,889
	210	Citigroup Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-GC29, 144A		3.110%		4/10/48		BBB–		153,431
	290	Citigroup Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2017-CD3, 144A		3.250%		2/10/50		BBB–		237,389
	685	Citigroup Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2017-CD4, 144A		3.300%		5/10/50		BBB–		560,613
	105	Citigroup Mortgage Loan Inc., Mortgage Pass-Through Certificates, Series 2006- AR2		3.543%		3/25/36		Caa2		93,282
	116	Citigroup Mortgage Loan Trust Inc., Mortgage Pass-Through Certificates, Series 2005-3		3.599%		8/25/35		Caa2		106,165
	307	Citigroup Mortgage Loan Trust, Mortgage Pass-Through Certificates Series 2007-AR8		3.544%		7/25/37		Caa2		283,718
	190	Commercial Mortgage Pass-Through Certificates 2012-CR3, 144A		4.919%		10/15/45		A–		184,692
	1,180	Commercial Mortgage Pass-Through Certificates Series 2012-CR4, 144A		4.735%		10/15/45		BBB		1,024,515
	970	Commercial Mortgage Pass-Through Certificates Series CR5 A4, 144A		4.470%		12/10/45		Baa3		872,491


	2			NUVEEN



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	950	Commercial Mortgage Pass-Through Certificates, Series 2017-CR9, 144A		4.396%		7/10/45		BBB–	$	815,627
	350	Core Industrial Trust, Series 2015-CALW, 144A		3.979%		2/10/34		B		341,441
	1,084	Countrywide Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2006-6CB		5.750%		5/25/36		Ca		818,709
	1,191	Countrywide Alternative Loan Trust, Securitization Pass-Through Certificates Series 2007-HY7C A1, (1-Month LIBOR reference rate + 0.140% spread), (3)		1.377%		8/25/37		Caa2		1,028,272
	1,196	Countrywide CHL Mortgage Pass-Through Trust 2006-HYB1		3.249%		3/20/36		Caa3		1,031,269
	995	Countrywide Home Loans Mortgage Pass-Through Certificates, Series 2005-HYB7		3.081%		11/20/35		Caa3		902,045
	909	Countrywide Home Loans, Mortgage Pass-Through Trust Series 2007-HY04		3.391%		9/25/47		N/R		849,974
	372	Credit Suisse First Boston Mortgage Acceptance Corporation, Adjustable Rate Mortgage-Backed Pass-Through Certificates, Series 2005-12		3.484%		3/25/36		Caa3		342,398
	216	Credit Suisse First Boston Mortgage Securities Corporation, Adjustable Rate Mortgage-Backed Pass-Through Certificates, Series 2006-2		3.370%		5/25/36		D		202,239
	1,150	CSAIL Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-C1, 144A		3.945%		4/15/50		BBB–		993,622
	1,400	CSAIL Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-C3		3.504%		8/15/48		BBB–		1,061,575
	300	Fannie Mae Connecticut Avenue Securities , Series 2016-C03, (1-Month LIBOR reference rate + 12.750% spread), (3)		13.987%		10/25/28		N/R		407,958
	800	Fannie Mae Connecticut Avenue Securities , Series 2016-C03, (1-Month LIBOR reference rate + 5.900% spread), (3)		7.137%		10/25/28		B		916,487
	1,575	Fannie Mae Connecticut Avenue Securities, Series 2013-C01, (1-Month LIBOR reference rate + 5.250% spread), (3)		6.484%		10/25/23		BB+		1,813,743
	815	Fannie Mae, Connecticut Ave Securities, Series 2015-C04, (1-Month LIBOR reference rate + 5.550% spread), (3)		6.787%		4/25/28		BB–		903,054
	652	Fannie Mae, Connecticut Avenue Securities, Series 2015-C01, (1-Month LIBOR reference rate + 4.550% spread), (3)		5.784%		2/25/25		BB		695,863
	173	Fannie Mae, Connecticut Avenue Securities, Series 2015-C03, (1-Month LIBOR reference rate + 5.000% spread), (3)		6.237%		7/25/25		B–		191,069
	996	Fannie Mae, Connecticut Avenue Securities, Series 2015-C03, (1-Month LIBOR reference rate + 5.000% spread), (3)		6.237%		7/25/25		BB		1,088,584
	880	Fannie Mae, Connecticut Avenue Securities, Series 2016-C05, (1-Month LIBOR reference rate + 10.750% spread), (3)		11.987%		1/25/29		N/R		1,058,882
	717	Fannie Mae, Connecticut Avenue Securities, Series 2016-C05, (1-Month LIBOR reference rate + 4.450% spread), (3)		5.687%		1/25/29		B		785,667
	485	Fannie Mae, Connecticut Avenue Securities, Series 2016-C07, (1-Month LIBOR reference rate + 9.500% spread), (3)		10.737%		5/25/29		N/R		575,869
	1,060	Fannie Mae, Connecticut Avenue Securities, Series 2017-C01, (1-Month LIBOR reference rate + 5.750% spread), (3)		6.987%		7/25/29		N/R		1,177,152
	1,635	Fannie Mae, Connecticut Avenue Securities, Series 2017-C02, (1-Month LIBOR reference rate + 5.500% spread), (3)		6.737%		9/25/29		N/R		1,675,927
	1,175	Fannie Mae, Connecticut Avenue Securities, Series 2017-C03, (1-Month LIBOR reference rate + 4.850% spread), (3)		6.087%		10/25/29		N/R		1,212,268
	993	Fannie Mae, Connecticut Avenue Securities, Series 2017-C03, (1-Month LIBOR reference rate + 0.950% spread), (3)		2.187%		10/25/29		Baa3		997,467
	595	Fannie Mae, Connecticut Avenue Securities, Series 2017-C04, (1-Month LIBOR reference rate + 5.050% spread), (3)		6.287%		11/25/29		N/R		595,002
	475	Fannie Mae, Connecticut Avenue Securities, Series 2017-C04, (1-Month LIBOR reference rate + 2.850% spread), (3)		4.087%		11/25/29		B		481,489
	985	Fannie Mae, Connecticut Avenue Securities, Series 2017-C05, (1-Month LIBOR reference rate + 3.600% spread), (3)		4.837%		1/25/30		N/R		917,389
	810	Fannie Mae, Connecticut Avenue Securities, Series 2017-C05, (1-Month LIBOR reference rate + 2.200% spread), (3)		3.437%		1/25/30		B3		799,470
	175	Fannie Mae, Connecticut Avenue Securities, Series 2017-C06, (1-Month LIBOR reference rate + 4.150% spread), (3)		5.387%		2/25/30		N/R		169,715
	905	First Horizon Alternative Mortgage Securities Trust, Mortgage Pass-Through Certificates Series 2006-FA3		6.000%		7/25/36		Ca		779,234


NUVEEN			3


JMT	Nuveen Mortgage Opportunity Term Fund 2
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	477	First Horizon Alternative Mortgage Securities Trust, Mortgage Pass-Through Certificates Series 2006-FA3		6.000%		7/25/36		Ca	$	410,141
	943	First Horizon Alternative Mortgage Securities Trust, Pass-Through Certificates Series 2005-A7		3.189%		9/25/35		Caa2		908,650
	685	First Horizon Alternative Mortgage Securities Trust, Pass-Through Certificates, Series 2006-AA2		3.086%		5/25/36		Ca		637,853
	5,230	Freddie Mac Collateralized Mortgage REMIC Series 4338, (I/O)		2.568%		6/25/42		Aaa		724,761
	1,495	Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series 2013-K712, 144A		3.481%		5/25/45		A		1,508,038
	1,196	Freddie Mac Mortgage Trust, Multifamily Mortgage Pass-Through Certificates, Series K720, 144A		3.505%		7/25/22		Baa3		1,158,723
	965	Freddie Mac Multifamily Aggregation Period Risk Transfer Trust, Series 2017-KT01, 144A		4.566%		2/25/20		Aaa		963,852
	1,175	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, 144A		4.082%		8/25/47		A3		1,185,732
	572	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2010-K8, 144A		5.444%		9/25/43		N/R		611,610
	600	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2014-K715, 144A		4.266%		2/25/46		A3		610,976
	935	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2015-K44, 144A		3.810%		1/25/48		BBB–		902,038
	385	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2015-K714, 144A		3.980%		1/25/47		Baa1		389,249
	496	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2015-K721, 144A		3.681%		11/25/47		Baa1		498,813
	384	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2016-K56, 144A		4.072%		6/25/49		BBB–		366,043
	270	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2016-K722, 144A		3.966%		7/25/49		BBB–		267,847
	195	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2017-K67, 144A		3.944%		8/25/27		A3		196,017
	290	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2017-K724, 144A		3.601%		11/25/23		BBB		288,210
	515	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2017-K725, 144A		4.013%		2/25/24		BBB		499,694
	675	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2017-KF30, 144A, (1-Month LIBOR reference rate + 3.250% spread), (3)		4.487%		3/25/27		N/R		674,930
	525	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2017-KF33, 144A, (1-Month LIBOR reference rate + 2.550% spread), (3)		3.782%		6/25/27		N/R		525,077
	480	Freddie Mac Multifamily Mortgage Trust, Structured Pass-Through Certificates, Series 2016-K59, 144A		3.695%		11/25/49		A–		466,488
	5,375	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K025, (I/O)		1.811%		11/25/40		Aaa		416,983
	7,001	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K031, (I/O)		1.714%		7/25/41		Aaa		577,105
	5,015	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K034, (I/O)		1.782%		9/25/41		Aaa		434,826
	3,975	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K037, (I/O)		2.281%		1/25/42		Aaa		475,270
	3,688	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K049, (I/O)		1.603%		10/25/43		Aaa		366,655
	1,245	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K061, (I/O)		2.205%		5/25/27		Aaa		200,407
	1,943	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K065, (I/O)		2.257%		7/25/45		Aaa		318,471
	10,374	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K714, (I/O)		1.851%		1/25/42		Aaa		528,294
	1,300	Freddie Mac Multifamily Structured Pass-Through Certificates, Series K013, (I/O)		2.909%		1/25/43		Aaa		114,172


	4			NUVEEN



Principal Amount (000)			Description (1)	Coupon		Maturity		Ratings (2)		Value

			MORTGAGE-BACKED SECURITIES (continued)

$	4,579		Freddie Mac Multifamily Structures Pass-Through Certificates, Series 2011-K012, (I/O)		2.329%		1/25/41		Aaa	$	313,961
	225		Freddie Mac Multifamily Trust, Structured Pass-Through Certificates, Series 2014-K37, 144A		4.713%		1/25/47		A–		232,725
	4,885		Freddie Mac Structured Pass-Through Certificates, Series K711 X3, (I/O)		1.675%		8/25/40		Aaa		136,926
	1,450		General Electric Capital Commercial Mortgage Corporation, Commercial Mortgage Pass-Through Certificates, Series 2007-C1		5.606%		12/10/49		B–		1,475,170
	679		Ginnie Mae Mortgage Pool, (I/O)		4.000%		9/16/26		Aaa		76,033
	3,794		Ginnie Mae Mortgage Pool, (I/O)		3.000%		12/16/27		Aaa		369,033
	762		GMACM Mortgage Corporation, Mortgage Pass-Through Certificates, Series 2005-AF2		6.000%		12/25/35		N/R		679,332
	635		GMACM Mortgage Corporation, Mortgage Pass-Through Certificates, Series 2006-AR1		3.849%		4/19/36		Caa3		600,686
	1,198		Goldman Sachs GSAA Home Equity Trust, Series 2007-8, (1-Month LIBOR reference rate + 0.450% spread), (3)		1.687%		8/25/37		B3		1,128,045
	375		Goldman Sachs Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2017-500K, 144A, (1-Month LIBOR reference rate + 1.800% spread), (3)		3.034%		7/15/32		N/R		375,576
	259		Goldman Sachs Mortgage Securities Corporation, GSR Mortgage Loan Trust, Mortgage Pass-Through Certificates Series 2007-AR1		3.418%		3/25/47		D		239,334
	—	(4)	Goldman Sachs Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2006-AR1 2A4		3.395%		1/25/36		N/R		213
	1,129		Goldman Sachs Mortgage Securities Trust, Mortgage Pass-Through Certificates, Series 2014-GC20, 144A		5.020%		4/10/47		BBB–		800,014
	517		Goldman Sachs Mortgage Securities Trust, Mortgage Pass-Through Certificates, Series 2015-GC32, 144A		2.753%		5/10/49		BBB–		402,408
	701		Goldman Sachs Mortgage Securities Trust, Mortgage Pass-Through Certificates, Series 2017-GS5, 144A		3.509%		3/10/50		BBB–		583,971
	775		Goldman Sachs Mortgage Securities Trust, Mortgage Pass-Through Certificates, Series 2017-GS6, 144A		3.243%		5/10/50		BBB–		625,492
	525		Goldman Sachs Mortgage Securities Trust, Series 2014-GC18		5.109%		1/10/47		A3		538,725
	343		Government National Mortgage Association Pool, (I/O)		4.500%		10/20/39		Aaa		40,784
	241		GSR Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2007-AR2		3.606%		5/25/37		D		212,214
	577		IndyMac INDA Mortgage Loan Trust, Series 2007-AR3		3.448%		7/25/37		Caa2		540,343
	806		IndyMac INDX Mortgage Loan Trust, Series 07-AR5		3.516%		5/25/37		Ca		706,724
	949		IndyMac INDX Mortgage Loan Trust, Series 2005-AR11		3.301%		8/25/35		Caa3		858,829
	1,303		IndyMac INDX Mortgage Loan Trust, Series 2005-AR23		3.207%		11/25/35		Caa3		1,194,133
	189		IndyMac INDX Mortgage Loan Trust, Series 2006-AR11		3.633%		6/25/36		Ca		175,330
	545		IndyMac INDX Mortgage Loan Trust, Series 2006-AR3		2.871%		3/25/36		Ca		521,124
	385		InSite Issuer LLC, Series 2016-1A, 144A		6.414%		11/15/46		BB–		395,220
	314		JP Morgan Mortgage Trust, Mortgage Pass-Through Certificates, Series 2006-A4		3.735%		6/25/36		Caa2		297,061
	905		JP Morgan Alternative Loan Trust, Mortgage Pass-Through Certificates 2006-S4		5.960%		12/25/36		Ca		858,314
	213		JP Morgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2006-S4 A5		6.000%		1/25/37		Caa3		180,406
	505		JP Morgan Chase Commercial Mortgage Securities Corporation, Commercial Mortgage Pass-Through Certificates, Series 2011-C5, 144A		5.588%		8/15/46		Baa3		507,893
	980		JP Morgan Chase Commercial Mortgage Securities Corporation, Pass-Through Certificates Trust 2013-C16, 144A		5.140%		12/15/46		BBB–		955,826
	1,299		JP Morgan Chase Commercial Mortgage Securities Trust, Pass-Through Certificates Series 2006-LDP9		5.337%		5/15/47		Ba1		1,288,741
	1,083		JP Morgan JPMBB Commercial Mortgage Securities Trust, Pass-Through Certificates, Series 2014-C23, 144A		4.107%		9/15/47		BBB–		923,762
	1,249		JP Morgan Mortgage Acquisition Corporation, Asset-Backed Pass-Through Certificates, Series 2007-CH5, (1-Month LIBOR reference rate + 0.260% spread), (3)		1.497%		6/25/37		Ba3		1,150,138
	701		JP Morgan Mortgage Acquisition Trust, Series 2006-A6		3.503%		10/25/36		Caa2		632,078
	305		JPMBD Commercial Mortgage Securities Trust, Series 2016-C4, 144A		3.224%		12/15/49		BBB–		236,093


NUVEEN			5


JMT	Nuveen Mortgage Opportunity Term Fund 2
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	568	LSTAR Securities Investment Trust, Mortgage Pass-Through Certificates, Series 2016-4, 144A, (1-Month LIBOR reference rate + 2.000% spread), (3)		3.237%		10/1/21		N/R	$	565,173
	436	LSTAR Securities Investment Trust, Mortgage Pass-Through Certificates, Series 2016-5, 144A, (1-Month LIBOR reference rate + 2.000% spread), (3)		3.237%		11/1/21		N/R		435,910
	576	LSTAR Securities Investment Trust, Mortgage Pass-Through Certificates, Series 2017-2, 144A, (1-Month LIBOR reference rate + 2.000% spread), (3)		3.237%		2/1/22		N/R		575,942
	268	LSTAR Securities Investment Trust, Mortgage Pass-Through Certificates, Series 2017-3, 144A, (1-Month LIBOR reference rate + 2.000% spread), (3)		3.237%		4/1/22		N/R		268,638
	785	LSTAR Securities Investment Trust, Mortgage Pass-Through Certificates, Series 2017-6, 144A, (1-Month LIBOR reference rate + 1.750% spread), (3)		2.986%		9/1/22		N/R		784,341
	960	Merrill Lynch Mortgage Backed Securities Trust, Mortgage Loan Asset Backed Notes, Series 2007-2, (H15T1Y reference rate + 2.400% spread), (3)		3.630%		8/25/36		Caa2		938,615
	1,078	Merrill Lynch Mortgage Backed Securities Trust, Mortgage Loan Asset Backed Notes, Series 2007-3		3.632%		6/25/37		D		905,280
	348	Mill City Mortgage Loan Trust, Series 2016-1, 144A		2.500%		4/25/57		Aaa		348,160
	1,100	ML_CFC Commercial Mortgage Trust, Pass-Through Certificates, Series 2007-8		5.970%		8/12/49		BB		1,101,957
	575	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, 144A		4.986%		2/15/47		BBB–		530,714
	145	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-HQ8		5.608%		3/12/44		AA		146,352
	625	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates 2006-TOP21, 144A		5.409%		10/12/52		Ba2		439,050
	440	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates 2006-TOP21, 144A		5.409%		10/12/52		B2		40,089
	787	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-TOP25		5.574%		11/12/49		Ba2		797,103
	600	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2008-T29, 144A		6.498%		1/11/43		BBB–		597,320
	445	Morgan Stanley Capital I Trust, Commercial Mortgage Pass-Through Certificates, Series 2016-BNK2, 144A		3.000%		11/15/49		BBB–		354,658
	1,480	Morgan Stanley Mortgage Capital Holdings LLC, Series 2017-237P, 144A		3.865%		9/13/39		BB–		1,346,506
	159	Morgan Stanley Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2006-3AR		3.452%		3/25/36		Caa3		139,846
	1,224	Morgan Stanley Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2007-13		6.000%		10/25/37		D		1,062,983
	503	Mortgage Asset Securitization Transactions Inc., Adjustable Rate Mortgage Pass-Through Certificates, Series 2007-HF2, (1-Month LIBOR reference rate + 0.310% spread), (3)		1.547%		9/25/37		B1		468,520
	761	Mortgage IT Trust, Mortgage-Backed Notes , Series 2006-1, (1-Month LIBOR reference rate + 0.200% spread), (3)		1.434%		4/25/36		Ca		694,026
	212	Nationstar HECM Loan Trust, Series 2017-1A, 144A		1.968%		5/25/27		Aaa		212,278
	173	New Residential Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2016-3A, 144A		3.250%		9/25/56		Aaa		176,238
	359	Oak Hill Advisors Residential Loan Trust , Series 2017-NPL1, 144A		3.000%		6/25/57		N/R		358,863
	557	Opteum Mortgage Acceptance Corporation, Asset backed Pass-Through Certificates, Series 2006-1, (1-Month LIBOR reference rate + 0.300% spread), (3)		1.537%		4/25/36		CCC		534,159
	845	Residential Accredit Loans Inc., Hybrid Adjustable Rate Mortgages, 2006-QA6, (1-Month LIBOR reference rate + 0.190% spread), (3)		1.427%		7/25/36		Caa3		771,733
	1,270	Residential Accredit Loans Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2005-QA10 A31		4.220%		9/25/35		Caa3		1,070,767
	746	Residential Accredit Loans Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2006-QS1		5.750%		1/25/36		Caa3		703,303


	6			NUVEEN



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	462	Residential Accredit Loans Inc., RALI Mortgage Asset-Backed Pass-Through Certificates, Series 2007-QS2		6.250%		1/25/37		Caa3	$	384,868
	692	Residential Accredit Loans Inc., RALI Mortgage Asset-Backed Pass-Through Certificates, Series 2006-QA1		4.363%		1/25/36		Caa3		599,224
	2,254	Residential Asset Mortgage Products, Mortgage Asset-Backed Pass-Through Certificates, Series 2006-NC2, (1-Month LIBOR reference rate + 0.290% spread), (3)		1.527%		2/25/36		A2		2,175,269
	226	Residential Funding Mortgage Securities I, Mortgage Pass-Through Certificates, Series 2007-SA2		3.989%		4/25/37		Caa2		217,785
	973	Residential Funding Mortgage Securities I, Mortgage Pass-Through Certificates, Series 2007-SA2		3.989%		4/25/37		Caa2		939,523
	1,048	Sequoia Mortgage Trust, Mortgage Pass-Through Certificates, Series 2007-1		3.305%		2/20/47		D		936,541
	1,112	Structured Adjustable Rate Mortgage Loan Pass-Through Trust, Series 2007-6 2A1, (1-Month LIBOR reference rate + 0.190% spread), (3)		1.427%		7/25/37		CCC		1,023,342
	339	Structured Agency Credit Risk Debt Notes, Series 2015-DNA1, (1-Month LIBOR reference rate + 9.200% spread), (3)		10.434%		10/25/27		N/R		426,221
	1,404	Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, (1-Month LIBOR reference rate + 2.850% spread), (3)		4.084%		4/25/28		BBB+		1,456,069
	300	Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, (1-Month LIBOR reference rate + 4.700% spread), (3)		5.934%		4/25/28		BB–		344,792
	629	Structured Agency Credit Risk Notes, Series 2015-HQA2, (1-Month LIBOR reference rate + 10.500% spread), (3)		11.734%		5/25/28		N/R		784,327
	1,292	Structured Agency Credit Risk Notes, Series 2016-DNA1, (1-Month LIBOR reference rate + 5.550% spread), (3)		6.787%		7/25/28		Ba2		1,515,567
	1,425	Structured Agency Credit Risk Notes, Series 2016-DNA1, (1-Month LIBOR reference rate + 2.900% spread), (3)		4.137%		7/25/28		Baa1		1,472,508
	250	Structured Agency Credit Risk Notes, Series 2016-DNA4, (1-Month LIBOR reference rate + 3.800% spread), (3)		5.034%		3/25/29		B		270,159
	1,443	Structured Agency Credit Risk Notes, Series 2016-HQA1, (1-Month LIBOR reference rate + 2.750% spread), (3)		3.984%		9/25/28		BBB–		1,490,731
	1,109	Structured Agency Credit Risk Notes, Series 2016-HQA2, (1-Month LIBOR reference rate + 2.250% spread), (3)		3.484%		11/25/28		Baa2		1,140,268
	810	Structured Agency Credit Risk Notes, Series 2016-HQA3, (1-Month LIBOR reference rate + 9.000% spread), (3)		10.234%		3/25/29		N/R		869,746
	1,196	Structured Agency Credit Risk Notes, Series 2016-HQA3, (1-Month LIBOR reference rate + 1.350% spread), (3)		2.584%		3/25/29		BBB–		1,210,806
	1,014	Structured Agency Credit Risk Notes, Series 2016-HQA4, (1-Month LIBOR reference rate + 8.750% spread), (3)		9.984%		4/25/29		N/R		1,058,159
	1,260	Structured Agency Credit Risk Notes, Series 2016-HQA4, (1-Month LIBOR reference rate + 1.300% spread), (3)		2.534%		4/25/29		BBB–		1,276,295
	470	Structured Agency Credit Risk Notes, Series 2017-DNA2, (1-Month LIBOR reference rate + 11.250% spread), (3)		12.484%		10/25/29		N/R		497,431
	570	Structured Agency Credit Risk Notes, Series 2017-DNA2, (1-Month LIBOR reference rate + 5.150% spread), (3)		6.384%		10/25/29		N/R		602,807
	1,000	Structured Agency Credit Risk Notes, Series 2017-DNA2, (1-Month LIBOR reference rate + 3.450% spread), (3)		4.684%		10/25/29		B+		1,057,356
	1,222	Structured Agency Credit Risk Notes, Series 2017-DNA2, (1-Month LIBOR reference rate + 1.200% spread), (3)		2.434%		10/25/29		BBB–		1,236,249
	385	Structured Agency Credit Risk Notes, Series 2017-DNA3, (WI/DD), (1-Month LIBOR reference rate + 2.500% spread), (3)		3.885%		3/25/30		B+		385,462
	250	Structured Agency Credit Risk Notes, Series 2017-DNA3, (WI/DD), (1-Month LIBOR reference rate + 4.450% spread), (3)		5.835%		3/25/30		N/R		251,543
	575	Structured Agency Credit Risk Notes, Series 2017-HQA1, (1-Month LIBOR reference rate + 5.000% spread), (3)		6.234%		8/25/29		N/R		574,998
	1,105	Structured Agency Credit Risk Notes, Series 2017-HQA2, (1-Month LIBOR reference rate + 4.750% spread), (3)		5.984%		12/25/29		N/R		1,065,897
	1,052	SunTrust Adjustable Rate Mortgage Loan Trust, Mortgage Pass-Through Certificates, Series 2007-1		3.497%		2/25/37		N/R		908,365
	380	TMSQ Mortgage Trust, Series 2014-1500, 144A		3.963%		10/10/36		Baa1		370,686
	443	Vericrest Opportunity Loan Transferee, Series 2017-NPL1, 144A		3.250%		5/25/47		N/R		443,907
	1,483	Vericrest Opportunity Loan Transferee, Series 2017-NPL3, 144A		3.500%		3/25/47		N/R		1,494,599


NUVEEN			7


JMT	Nuveen Mortgage Opportunity Term Fund 2
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)



Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		MORTGAGE-BACKED SECURITIES (continued)

$	882	Vericrest Opportunity Loan Transferee, Series 2017-NPL4, 144A		3.375%		4/25/47		N/R	$	886,472
	780	Vericrest Opportunity Loan Transferee, Series 2017-NPL5, 144A		5.375%		5/28/47		N/R		775,705
	1,505	Vericrest Opportunity Loan Transferee, Series 2017-NPL7, 144A		5.375%		4/25/59		N/R		1,497,243
	685	Vericrest Opportunity Loan Transferee, Series 2017-NPL8, 144A		5.000%		6/25/47		N/R		679,183
	257	Vericrest Opportunity Loan Transferee, Series 2017-NPL9, 144A		3.125%		9/25/47		N/R		257,069
	785	Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30		5.413%		12/15/43		B+		798,218
	455	Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31		6.148%		4/15/47		B3		468,587
	672	Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C31		5.660%		4/15/47		A+		682,513
	1,175	Wachovia Commercial Mortgage Trust, Pass-Through Certificates, Series 2005-C21, 144A		5.468%		10/15/44		B+		722,860
	366	Washington Mutual Mortgage Pass-Through Certificates Trust 2006-AR14		2.754%		11/25/36		D		349,481
	1,233	Washington Mutual Mortgage Pass-Through Certificates, Series 2006-AR17, (12MTA reference rate + 0.820% spread), (3)		1.650%		12/25/46		Caa3		1,111,804
	439	Washington Mutual Mortgage Pass-Through Certificates, Series 2006-AR		2.606%		1/25/37		D		403,692
	369	Washington Mutual Mortgage Securities Corporation, Mortgage Pass-Through Certificates, Series 2007-HY1, (1-Month LIBOR reference rate + 0.160% spread), (3)		1.394%		2/25/37		Caa3		299,610
	590	Washington Mutual Mortgage Securities Corporation. Mortgage Pass-Through Certificates, Series 2006-AR7, (12MTA reference rate + 0.980% spread), (3)		1.869%		7/25/46		Caa3		560,950
	1,031	Wells Fargo Alternative Loan Trust, Mortgage Asset-Backed Pass-Through Certificates, Series 2007-PA1		6.000%		3/25/37		Caa3		935,328
	1,440	Wells Fargo Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-NXS1		4.239%		5/15/48		BBB–		1,259,113
	215	Wells Fargo Commercial Mortgage Trust, Commercial Mortgage-Pass-Through Certificates, Series 2016-BNK1, 144A		3.000%		8/15/49		BBB–		172,404
	535	Wells Fargo Mortgage Backed Securities, Collateralized Mortgage Obligation, Series 2007-AR7 A1		3.346%		12/28/37		Caa3		516,138
	730	Wells Fargo-RBS Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2014-C20, 144A		3.986%		5/15/47		N/R		556,224
$	209,689	Total Mortgage-Backed Securities (cost $145,217,478)								148,642,233

Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (2)		Value

		U.S. GOVERNMENT AND AGENCY OBLIGATIONS – 1.1% (0.8% of Total Investments)

$	1,250	U.S. Treasury Bonds		3.625%		8/15/43		Aaa	$	1,433,301
$	1,250	Total U.S. Government and Agency Obligations (cost $1,389,302)								1,433,301
		Total Long-Term Investments (cost $165,275,984)								168,796,124

Principal Amount (000)		Description (1)	Coupon		Maturity				Value

		SHORT-TERM INVESTMENTS – 1.9% (1.4% of Total Investments)

		REPURCHASE AGREEMENTS – 1.9% (1.4% of Total Investments)

$	2,376	Repurchase Agreement with Fixed Income Clearing Corporation, dated 9/29/17 repurchase price $2,376,408, collateralized by $2,430,000, U.S. Treasury Notes, 2.250%, due 2/15/27, value $2,425,794		0.120%		10/02/17			$	2,376,384
		Total Short-Term Investments (cost $2,376,384)								2,376,384
		Total Investments (cost $167,652,368) – 138.1%								171,172,508
		Borrowings – (37.3)% (5), (6)								(46,200,000	)
		Other Assets Less Liabilities – (0.8)%								(1,065,910	)
		Net Assets – 100%							$	123,906,598


	8			NUVEEN

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.


Level 1 –		Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –		Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –		Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:


	Level 1		Level 2		Level 3		Total
Long-Term Investments:
Asset-Backed Securities	$	—	$	18,720,590	$	—	$	18,720,590
Mortgage-Backed Securities		—		148,642,233		—		148,642,233
U.S. Government and Agency Obligations		—		1,433,301		—		1,433,301

Short-Term Investments:
Repurchase Agreements		—		2,376,384		—		2,376,384
Total	$	—	$	171,172,508	$	—	$	171,172,508

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 recognition of market discount accretion on investments, recognition of unrealized gain or loss for tax (mark-to-market) on futures contracts and timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

The table below presents the cost and unrealized appreciation (depreciation) of the Fund’s investment portfolio, as determined on a federal tax basis, as of September 30, 2017.


Tax cost of investments		$164,879,280
Gross unrealized:
Appreciation	$	7,398,939
Depreciation		(1,105,711	)
Net unrealized appreciation (depreciation) of investments	$	6,293,228


NUVEEN			9


JMT	Nuveen Mortgage Opportunity Term Fund 2
	Portfolio of Investments (continued)	September 30, 2017 (Unaudited)

For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report which may combine industry sub-classifications into sectors for reporting ease.

(1)	All percentages shown in the Portfolio of Investments are based on net assets.

(2)

For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

(3)	Variable rate security. The rate shown is the coupon as of the end of the reporting period.

(4)	Principal Amount (000) rounds to less than $1,000.

(5)	Borrowings as a percentage of Total Investments is 27.0%.

(6)	The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings.

I/O	Interest only security.

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.

WI/DD

Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

12MTA

Federal Reserve U.S. 12-Month Cumulative Treasury Average 1-Year CMT

H15T1Y

U.S. Treasury Yield Curve Rate T Note Constant Maturity 1-Year

LIBOR

London Inter-Bank Offered Rate


	10			NUVEEN

Item 2. Controls and Procedures.

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)).

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 Mortgage Opportunity Term Fund 2

By (Signature and Title)		/s/ Gifford R. Zimmerman
		Gifford R. Zimmerman
		Vice President and Secretary

Date: November 29, 2017

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/ Cedric H. Antosiewicz
		Cedric H. Antosiewicz
		Chief Administrative Officer (principal executive officer)

Date: November 29, 2017

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

Date: November 29, 2017