SCHEDULE: Sit Investment Associates Discloses 22.4% Stake in Nuveen Fund

Sit Investment Associates and its subsidiary Sit Fixed Income Advisors II have disclosed a 22.4% beneficial ownership stake in Nuveen Mortgage and Income Fund.

Summary

• Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC collectively hold 1,228,685 shares of Nuveen Mortgage and Income Fund common stock.
• This ownership represents 22.4% of the class of securities outstanding.
• The shares are held with shared voting power and shared dispositive power by both reporting persons.
• The ownership percentages are based on 5,476,626 shares of common stock outstanding as of June 30, 2025.
• Sit Investment Associates, Inc. is a Minnesota Corporation and an investment adviser.
• Sit Fixed Income Advisors II, LLC is a Delaware LLC, an investment adviser, and a subsidiary of Sit Investment Associates, Inc.
• The reporting persons disclaim beneficial ownership of these securities, as they are held in client accounts for which they provide investment management services.

Sentiment

Score: 6

Explanation: The filing is primarily a factual disclosure of a significant passive ownership stake. While a large institutional holding can be viewed positively as a vote of confidence, the filing itself is a compliance document and does not contain performance or strategic updates from the issuer.

Positives

• A significant institutional ownership stake (22.4%) by Sit Investment Associates and its subsidiary may indicate confidence in Nuveen Mortgage and Income Fund's investment strategy or assets.
• The filing confirms a substantial, long-term institutional presence in the fund's shareholder base.

Risks

• The reporting persons disclaim beneficial ownership, meaning they hold shares on behalf of clients and not for direct control or influence over the issuer, which limits their direct impact on the fund's strategic direction.

Industry Context

This filing reflects routine disclosure requirements for investment advisers holding significant passive stakes in publicly traded funds. Such disclosures provide transparency regarding institutional ownership, which is common in the closed-end fund sector where investment managers often hold substantial positions on behalf of their clients.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, potentially influencing investor perception of the fund's stability and institutional backing.

Key Dates

Keywords

Nuveen Mortgage and Income Fund, Sit Investment Associates, Sit Fixed Income Advisors II, Schedule 13G, Beneficial Ownership, Investment Adviser, Common Stock, Institutional Investor, Closed-End Fund