<PAGE> PAGE 1
000 A000000 03/31/99
000 C000000 0001071336
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 NUVEEN INVESTMENT TRUST III
001 B000000 811-09037
001 C000000 3129178200
002 A000000 333 WEST WACKER DRIVE
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 1286
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 NUVEEN INCOME FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 NUVEEN INSTITUTIONAL ADVISORY CORP
008 B00AA01 A
008 C00AA01 801-36793
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60606
008 D04AA01 1286
011 A00AA01 JOHN NUVEEN & CO. INCORPORATED
011 B00AA01 8-13464
011 C01AA01 CHICAGO
011 C02AA01 IL
011 C03AA01 60606
011 C04AA01 1286
012 A00AA01 CHASE MANHATTAN BANK
012 B00AA01 85-10233
012 C01AA01 NEW YORK
<PAGE> PAGE 2
012 C02AA01 NY
012 C03AA01 10003
013 A00AA01 ARTHUR ANDERSEN & CO.
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60603
014 A00AA01 JOHN NUVEEN & CO.,INCORPORATED
014 B00AA01 8-13464
015 A00AA01 CHASE MANHATTAN BANK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10003
015 E01AA01 X
015 A00AA02 BANK OF NEW YORK
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10007
015 E01AA02 X
015 A00AA03 BANKERS TRUST COMPANY
015 B00AA03 S
015 C01AA03 NEW YORK
015 C02AA03 NY
015 C03AA03 10015
015 E01AA03 X
015 A00AA04 NATIONSBANK OF NORTH CAROLINA N. A.
015 B00AA04 S
015 C01AA04 CHARLOTTE
015 C02AA04 NC
015 C03AA04 28255
015 E01AA04 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 100
019 C00AA00 NUVEENFUND
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001 25282
022 D000001 0
<PAGE> PAGE 3
022 A000002 GOLDMAN, SACHS & COMPANY
022 B000002 13-5108880
022 C000002 7385
022 D000002 409
022 A000003 J. B. HANAUER
022 B000003 22-1847493
022 C000003 3457
022 D000003 2996
022 A000004 BAIRD, ROBERT W
022 B000004 39-6037917
022 C000004 1057
022 D000004 0
022 A000005 FIRST ALBANY
022 B000005 14-1391446
022 C000005 1000
022 D000005 0
022 A000006 PAINE WEBBER
022 B000006 13-2638166
022 C000006 500
022 D000006 0
022 A000007 MORGAN STANLEY
022 B000007 13-2655998
022 C000007 432
022 D000007 0
022 A000008 SALOMON SMITH BARNEY
022 B000008 13-1912900
022 C000008 397
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 39511
023 D000000 27916
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
<PAGE> PAGE 4
026 H000000 N
027 000000 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
063 A000000 0
063 B000000 0.0
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 0
028 A020100 0
028 A030100 0
028 A040100 0
028 B010100 0
<PAGE> PAGE 5
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 9995
028 C020100 52
028 C030100 0
028 C040100 0
028 D010100 222
028 D020100 0
028 D030100 0
028 D040100 0
028 E010100 732
028 E020100 0
028 E030100 0
028 E040100 0
028 F010100 883
028 F020100 0
028 F030100 0
028 F040100 0
028 G010100 11832
028 G020100 52
028 G030100 0
028 G040100 0
028 H000100 11832
029 000100 Y
030 A000100 4
030 B000100 4.75
030 C000100 0.00
031 A000100 1
031 B000100 0
032 000100 3
033 000100 0
034 000100 Y
035 000100 1
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 2
044 000100 0
<PAGE> PAGE 6
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 125000
048 A020100 0.600
048 B010100 125000
048 B020100 0.588
048 C010100 250000
048 C020100 0.575
048 D010100 500000
048 D020100 0.563
048 E010100 1000000
048 E020100 0.550
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 2000000
048 K020100 0.525
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
055 A000100 Y
055 B000100 N
056 000100 N
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 8.5
062 M000100 22.5
062 N000100 0.0
062 O000100 0.0
<PAGE> PAGE 7
062 P000100 52.7
062 Q000100 13.1
062 R000100 0.0
063 A000100 0
063 B000100 11.1
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 14027
071 B000100 3416
071 C000100 9383
071 D000100 36
072 A000100 4
072 B000100 249
072 C000100 0
072 D000100 0
<PAGE> PAGE 8
072 E000100 0
072 F000100 21
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 13
072 K000100 9
072 L000100 14
072 M000100 1
072 N000100 2
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 1
072 S000100 2
072 T000100 2
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 65
072 Y000100 35
072 Z000100 219
072AA000100 0
072BB000100 21
072CC010100 0
072CC020100 190
072DD010100 207
072DD020100 10
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 115
074 B000100 0
074 C000100 0
074 D000100 11399
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 81
074 K000100 0
074 L000100 216
074 M000100 0
074 N000100 11811
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
<PAGE> PAGE 9
074 R020100 0
074 R030100 0
074 R040100 36
074 S000100 0
074 T000100 11775
074 U010100 504
074 U020100 97
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 11
074 Y000100 0
075 A000100 0
075 B000100 10587
076 000100 0.00
083 B000100 0
084 B000100 0
SIGNATURE STEPHEN D. FOY
TITLE V.P. & CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> NUVEEN INCOME FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> NOV-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 11589
<INVESTMENTS-AT-VALUE> 11399
<RECEIVABLES> 297
<ASSETS-OTHER> 115
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11811
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36
<TOTAL-LIABILITIES> 36
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11984
<SHARES-COMMON-STOCK> 25
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (190)
<NET-ASSETS> 11775
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 249
<OTHER-INCOME> 0
<EXPENSES-NET> 30
<NET-INVESTMENT-INCOME> 219
<REALIZED-GAINS-CURRENT> (21)
<APPREC-INCREASE-CURRENT> (190)
<NET-CHANGE-FROM-OPS> 8
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11675
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65
<AVERAGE-NET-ASSETS> 128
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> (.39)
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.58
<EXPENSE-RATIO> 1.05
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> NUVEEN INCOME FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> NOV-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 11589
<INVESTMENTS-AT-VALUE> 11399
<RECEIVABLES> 297
<ASSETS-OTHER> 115
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11811
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36
<TOTAL-LIABILITIES> 36
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11984
<SHARES-COMMON-STOCK> 66
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (190)
<NET-ASSETS> 11775
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 249
<OTHER-INCOME> 0
<EXPENSES-NET> 30
<NET-INVESTMENT-INCOME> 219
<REALIZED-GAINS-CURRENT> (21)
<APPREC-INCREASE-CURRENT> (190)
<NET-CHANGE-FROM-OPS> 8
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 64
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11675
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65
<AVERAGE-NET-ASSETS> 419
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> .33
<PER-SHARE-GAIN-APPREC> (.38)
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.60
<EXPENSE-RATIO> 1.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> NUVEEN INCOME FUND CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> NOV-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 11589
<INVESTMENTS-AT-VALUE> 11399
<RECEIVABLES> 297
<ASSETS-OTHER> 115
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11811
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36
<TOTAL-LIABILITIES> 36
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11984
<SHARES-COMMON-STOCK> 6
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (190)
<NET-ASSETS> 11775
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 249
<OTHER-INCOME> 0
<EXPENSES-NET> 30
<NET-INVESTMENT-INCOME> 219
<REALIZED-GAINS-CURRENT> (21)
<APPREC-INCREASE-CURRENT> (190)
<NET-CHANGE-FROM-OPS> 8
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11675
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65
<AVERAGE-NET-ASSETS> 61
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.39)
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.60
<EXPENSE-RATIO> 1.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the Form
N-SAR and the financial statements and is qualified in its entirety by
references to such documents.
</LEGEND>
<SERIES>
<NUMBER> 014
<NAME> NUVEEN INCOME FUND CLASS R
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 4-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> NOV-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 11589
<INVESTMENTS-AT-VALUE> 11399
<RECEIVABLES> 297
<ASSETS-OTHER> 115
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11811
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36
<TOTAL-LIABILITIES> 36
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11984
<SHARES-COMMON-STOCK> 504
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (190)
<NET-ASSETS> 11775
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 249
<OTHER-INCOME> 0
<EXPENSES-NET> 30
<NET-INVESTMENT-INCOME> 219
<REALIZED-GAINS-CURRENT> (21)
<APPREC-INCREASE-CURRENT> (190)
<NET-CHANGE-FROM-OPS> 8
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 207
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 500
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 3
<NET-CHANGE-IN-ASSETS> 11675
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65
<AVERAGE-NET-ASSETS> 9980
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> .41
<PER-SHARE-GAIN-APPREC> (.40)
<PER-SHARE-DIVIDEND> (.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.60
<EXPENSE-RATIO> .80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
