N-CSRS 1 d500008dncsrs.htm NUVEEN AMT-FREE MUNICIPAL CREDIT INCOME FUND Nuveen AMT-Free Municipal Credit Income Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act file number       811-09475

Nuveen AMT-Free Municipal Credit Income Fund

 

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

 

(Address of principal executive offices) (Zip code)

Mark L. Winget

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

 

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:       (312) 917-7700

 

Date of fiscal year end:       October 31

 

Date of reporting period:       April 30, 2023

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 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. ss. 3507.


ITEM 1.

REPORTS TO STOCKHOLDERS.


Closed-End
Funds
Closed-End
Funds
Nuveen
Municipal
April
30,
2023
Semi-annual
Report
This
semi-annual
report
contains
the
Funds'
unaudited financial
statements.
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
NVG
Nuveen
Municipal
Credit
Income
Fund
NZF
Nuveen
Municipal
High
Income
Opportunity
Fund
NMZ
Nuveen
Municipal
Credit
Opportunities
Fund
NMCO
Nuveen
Dynamic
Municipal
Opportunities
Fund
NDMO
2
IMPORTANT
DISTRIBUTION
NOTICE
for
Shareholders
of
the
Nuveen
Dynamic
Municipal
Opportunity
Fund
(NDMO)
Semi-annual
Shareholder
Report
for
the
period
ending
April
30,
2023
The
Nuveen
Dynamic
Municipal
Opportunity
Fund
(NDMO)
seeks
to
offer
attractive
cash
flow
to
its
shareholders,
by
converting
the
expected
long-term
total
return
potential
of
the
Fund’s
portfolio
of
investments
into
regular
monthly
distributions.
Following
is
a
discussion
of
the
Managed
Distribution
Policy
the
Fund
uses
to
achieve
this.
The
Fund
pays
monthly
common
share
distributions
that
seek
to
convert
the
Fund’s
expected
long-term
total
return
potential
into
regular
cash
flow.
As
a
result,
the
Fund’s
regular
common
share
distributions
(presented
$0.0620
per
share)
may
be
derived
from
a
variety
of
sources,
including:
Net
investment
income
consisting
of
regular
interest
and
dividends
Realized
capital
gains
or,
Possibly,
returns
of
capital
representing
in
certain
cases
unrealized
capital
appreciation.
Such
distributions
are
sometimes
referred
to
as
"managed
distributions."
The
Fund
seeks
to
establish
a
distribution
rate
that
roughly
corresponds
to
the
Adviser's
projections
of
the
total
return
that
could
reasonably
be
expected
to
be
generated
by
the
Fund
over
an
extended
period
of
time.
The
Adviser
may
consider
many
factors
when
making
such
projections,
including,
but
not
limited
to,
long-term
historical
returns
for
the
asset
classes
in
which
the
Fund
invests.
As
portfolio
and
market
conditions
change,
the
distribution
amount
and
distribution
rate
on
the
Common
Shares
under
the
Fund's
Managed
Distribution
Policy
could
change.
When
it
pays
a
distribution,
the
Fund
provides
holders
of
its
Common
Shares
a
notice
of
the
estimated
sources
of
the
Fund's
distributions
(i.e.,
what
percentage
of
the
distributions
is
estimated
to
constitute
ordinary
income,
short-term
capital
gains,
long-term
capital
gains,
and/or
a
non-taxable
return
of
capital)
on
a
year-to-date
basis.
It
does
this
by
posting
the
notice
on
its
website
(www.nuveen.com/cef),
and
by
sending
it
in
written
form.
You
should
not
draw
any
conclusions
about
the
Fund's
investment
performance
from
the
amount
of
this
distribution
or
from
the
terms
of
the
Fund's
Managed
Distribution
Policy.
The
Fund's
actual
financial
performance
will
likely
vary
from
month-to-month
and
from
year-to-year,
and
there
may
be
extended
periods
when
the
distribution
rate
will
exceed
the
Fund's
actual
total
returns.
The
Managed
Distribution
Policy
provides
that
the
Board
may
amend
or
terminate
the
Policy
at
any
time
without
prior
notice
to
Fund
shareholders.
There
are
presently
no
reasonably
foreseeable
circumstances
that
might
cause
the
Fund
to
terminate
its
Managed
Distribution
Policy.
Table
of
Contents
3
Chair’s
Letter
to
Shareholders
4
Important
Notices
5
Fund
Leverage
6
Common
Share
Information
7
About
the
Funds’
Benchmarks
10
Performance
Overview
and
Holding
Summaries
12
Shareholder
Meeting
Report
22
Portfolios
of
Investments
23
Statement
of
Assets
and
Liabilities
199
Statement
of
Operations
200
Statement
of
Changes
in
Net
Assets
201
Statement
of
Cash
Flows
204
Financial
Highlights
206
Notes
to
Financial
Statements
214
Risk
Considerations
232
Additional
Fund
Information
233
Glossary
of
Terms
Used
in
this
Report
234
4
Chair’s
Letter
to
Shareholders
Dear
Shareholders,
The
significant
measures
taken
by
the
U.S.
Federal
Reserve
(Fed)
and
other
global
central
banks
over
the
past
year
to
contain
inflation
have
begun
to
take
effect.
From
March
2022
to
May
2023,
the
Fed
raised
the
target
fed
funds
rate
by
5.00%
to
a
range
of
5.00%
to
5.25%,
marking
the
fastest
interest
rate
hiking
cycle
in
its
history.
Across
most
of
the
world,
inflation
rates
have
fallen
from
their
post-pandemic
highs
but
currently
remain
well
above
the
levels
that
central
banks
consider
supportive
of
their
economies’
long-term
growth.
At
the
same
time,
the
U.S.
and
other
large
economies
have
remained
surprisingly
resilient,
even
as
financial
conditions
have
tightened.
Despite
contracting
in
the
first
half
of
2022,
U.S.
gross
domestic
product
grew
2.1%
in
the
year
overall
compared
to
2021
and
expanded
at
a
more
moderate
pace
of
1.3%
in
the
first
quarter
of
2023.
A
relatively
strong
jobs
market
has
helped
support
consumer
sentiment
and
spending
despite
historically
high
inflation.
Markets
are
concerned
that
these
conditions
could
keep
upward
pressure
on
prices
and
wages,
although
the
recent
collapse
of
three
regional
U.S.
banks
(Silicon
Valley
Bank,
Signature
Bank
and
First
Republic
Bank)
and
major
European
bank
Credit
Suisse
is
likely
to
add
further
downward
pressure
to
the
economy
as
the
banking
system
slows
lending
in
response.
Fed
officials
are
closely
monitoring
inflation
data
and
other
economic
measures
to
modify
their
rate
setting
activity
based
upon
these
factors
on
a
meeting-by-meeting
basis,
including
pausing
rate
adjustments
at
the
most
recent
meeting
in
June
2023
in
order
to
assess
the
effects
of
monetary
policy
so
far
on
the
economy.
While
uncertainty
has
increased
given
the
unpredictable
outcome
of
tighter
credit
conditions
on
the
economy,
the
Fed
remains
committed
to
acting
until
it
sees
sustainable
progress
toward
its
inflation
goals.
In
the
meantime,
markets
are
likely
to
continue
reacting
in
the
short
term
to
news
about
inflation
data,
economic
indicators
and
central
bank
policy.
The
debt
ceiling
debate
in
Congress
was
also
looming
over
the
markets
until
the
government
passed
an
increase
to
the
debt
limit
in
early
June
2023
and
averted
a
default
scenario.
We
encourage
investors
to
keep
a
long-term
perspective
amid
the
short-term
noise.
Your
financial
professional
can
help
you
review
how
well
your
portfolio
is
aligned
with
your
time
horizon,
risk
tolerance
and
investment
goals.  
On
behalf
of
the
other
members
of
the
Nuveen
Fund
Board,
we
look
forward
to
continuing
to
earn
your
trust
in
the
months
and
years
ahead.
Terence
J.
Toth
Chair
of
the
Board
June
21,
2023
Important
Notices
5
For
Shareholders
of
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(NVG)
Nuveen
Municipal
Credit
Income
Fund
(NZF)
Nuveen
Municipal
High
Income
Opportunity
Fund
(NMZ)
Nuveen
Municipal
Credit
Opportunities
Fund
(NMCO)
Nuveen
Dynamic
Municipal
Opportunities
Fund
(NDMO)
Portfolio
Manager
Commentaries
in
Semi-annual
Shareholder
Reports
The
Funds
include
portfolio
manager
commentary
in
their
annual
shareholder
reports.
For
the
Funds’
most
recent
annual
portfolio
manager
discussion,
please
refer
to
the
Portfolio
Managers’
Comments
section
of
each
Fund’s
October
31,
2022
annual
shareholder
report.
For
current
information
on
your
Fund’s
investment
objectives,
portfolio
management
team
and
average
annual
total
returns
please
refer
to
the
Fund’s
website
at
www.nuveen.com.
For
changes
that
occurred
to
your
Fund
both
during
and
subsequent
to
this
reporting
period,
please
refer
to
the
Notes
to
Financial
Statements
section
of
this
report.
For
average
annual
total
returns
as
of
the
end
of
this
reporting
period,
please
refer
to
the
Performance
Overview
and
Holding
Summaries
section
within
this
report.
Fund
Mergers
Update
for
Nuveen
Municipal
Credit
Income
Fund
(NZF)
Effective
prior
to
the
opening
of
business
on
April
17,
2023,
Nuveen
Ohio
Quality
Municipal
Income
Fund
(NUO)
and
Nuveen
Georgia
Quality
Municipal
Income
Fund
(NKG)
(the
“Target
Funds”)
were
each
merged
into
NZF
(the
“Acquiring
Fund”)
(“each
a
Merger”).
Refer
to
Note
1
and
Note
11
of
the
Notes
to
Financial
Statements
within
this
report
for
further
details
on
the
Merger.
Events
that
Occurred
Subsequent
to
the
Reporting
Period
Portfolio
Manager
Update
for
Nuveen
Municipal
High
Income
Opportunity
Fund
(NMZ)
On
May
31,
2023,
John
V.
Miller
no
longer
served
as
a
portfolio
manager
of
the
Fund.
Daniel
Close
and
Stephen
Candido
continued
to
serve
as
portfolio
managers
of
the
Fund.
Portfolio
Manager
Update
for
Nuveen
Municipal
Credit
Opportunities
Fund
(NMCO)
On
May
31,
2023
John
V.
Miller
no
longer
served
as
a
portfolio
manager
of
the
Fund.
Stephen
Candido,
Steven
Hlavin,
and
Daniel
Close
continued
to
serve
as
portfolio
managers
of
the
Fund.
Portfolio
Manager
Update
for
Nuveen
Dynamic
Municipal
Opportunities
Fund
(NDMO)
On
May
31,
2023,
John
V.
Miller
no
longer
served
as
a
portfolio
manager
of
the
Fund.
Daniel
Close,
Stephen
Candido,
and
Timothy
Ryan
continued
to
serve
as
portfolio
managers
of
the
Fund.
6
Fund
Leverage
IMPACT
OF
THE
FUNDS’
LEVERAGE
STRATEGY
ON
PERFORMANCE
One
important
factor
impacting
the
returns
of
the
Funds’
common
shares
relative
to
their
comparative
benchmarks
was
the
Funds’
use
of
leverage
through
their
issuance
of
preferred
shares
and/or
investments
in
inverse
floating
rate
securities,
which
represent
leveraged
investments
in
underlying
bonds.
The
Funds
use
leverage
because
our
research
has
shown
that,
over
time,
leveraging
provides
opportunities
for
additional
income.
The
opportunity
arises
when
short-term
rates
that
a
Fund
pays
on
its
leveraging
instruments
are
lower
than
the
interest
the
Fund
earns
on
its
portfolio
of
long-term
bonds
that
it
has
bought
with
the
proceeds
of
that
leverage.
However,
use
of
leverage
can
expose
Fund
common
shares
to
additional
price
volatility.
When
a
Fund
uses
leverage,
the
Fund’s
common
shares
will
experience
a
greater
increase
in
their
net
asset
value
if
the
securities
acquired
through
the
use
of
leverage
increase
in
value,
but
will
also
experience
a
correspondingly
larger
decline
in
their
net
asset
value
if
the
securities
acquired
through
leverage
decline
in
value.
All
this
will
make
the
shares’
total
return
performance
more
variable
over
time.
In
addition,
common
share
income
in
levered
funds
will
typically
decrease
in
comparison
to
unlevered
funds
when
short-term
interest
rates
increase
and
increase
when
short-term
interest
rates
decrease.
In
recent
quarters,
fund
leverage
expenses
have
generally
tracked
the
overall
movement
of
short-term
interest
rates.
While
fund
leverage
expenses
are
higher
than
their
prior
year
lows,
leverage
nevertheless
continues
to
provide
the
opportunity
for
incremental
common
share
income,
particularly
over
longer-term
periods.
The
Funds’
use
of
leverage
significantly
contributed
to
relative
performance
during
the
reporting
period.
In
addition,
the
Funds’
use
of
leverage
was
accretive
to
overall
common
share
income.
As
of
April
30,
2023,
the
Funds’
percentages
of
leverage
are
as
shown
in
the
accompanying
table.
i
THE
FUNDS’
REGULATORY
LEVERAGE
As
of
April
30,
2023,
the
Funds
have
issued
and
outstanding
preferred
shares
as
shown
in
the
accompanying
table.
Refer
to
Notes
to
Financial
Statements
for
further
details
on
preferred
shares
and
each
Fund’s
respective
transactions.
NVG
NZF
NMZ
NMCO
NDMO
Effective
Leverage
*
40.75%
39.00%
39.43%
42.07%
26.82%
Regulatory
Leverage
*
37.75%
33.36%
22.44%
40.74%
26.76%
*
Effective
Leverage
is
a
Fund’s
effective
economic
leverage,
and
includes
both
regulatory
leverage
and
the
leverage
effects
of
certain
derivative
and
other
investments
in
a
Fund’s
portfolio
that
increase
the
Fund’s
investment
exposure.
Currently,
the
leverage
effects
of
Tender
Option
Bond
(TOB)
inverse
floater
holdings
are
included
in
effective
leverage
values,
in
addition
to
any
regulatory
leverage.
Regulatory
leverage
consists
of
preferred
shares
issued
or
borrowings
of
a
Fund.
Both
of
these
are
part
of
a
Fund’s
capital
structure.
A
Fund,
however,
may
from
time
to
time
borrow
on
a
typically
transient
basis
in
connection
with
its
day-to-day
operations,
primarily
in
connection
with
the
need
to
settle
portfolio
trades.
Such
incidental
borrowings
are
excluded
from
the
calculation
of
a
Fund’s
effective
leverage
ratio.
Regulatory
leverage
is
subject
to
asset
coverage
limits
set
forth
in
the
Investment
Company
Act
of
1940.
Variable
Rate
Preferred*
Variable
Rate
Remarketed
Preferred**
Fund
Shares
Issued
at
Liquidation
Preference
Shares
Issued
at
Liquidation
Preference
Total
NVG
$67,400,000
$1,686,600,000
$1,754,000,000
NZF
  $
1,172,000,000
$146,000,000
$1,318,000,000
NMZ
$357,000,000
$-
$357,000,000
NMCO
$350,000,000
$100,000,000
$450,000,000
NDMO
$240,000,000
$-
$240,000,000
*
Preferred
shares
of
the
Fund
featuring
a
floating
rate
dividend
based
on
a
predetermined
formula
or
spread
to
an
index
rate.
Includes
the
following
preferred
shares
AMTP,
iMTP,
MFP-VRM
and
VRDP
in
Special
Rate
Mode,
where
applicable.
See
Notes
to
Financial
Statements
for
further
details.
**
Preferred
shares
of
the
Fund
featuring
floating
rate
dividends
set
by
a
remarketing
agent
via
a
regular
remarketing.
Includes
the
following
preferred
shares
VRDP
not
in
Special
Rate
Mode,
MFP-VRRM
and
MFP-VRDM,
where
applicable.
See
Notes
to
Financial
Statements
for
further
details.
Common
Share
Information
(Unaudited)
7
NVG,
NZF,
NMZ
and
NMCO
COMMON
SHARE
DISTRIBUTION
INFORMATION
The
following
information
regarding
the
distributions
for
NVG,
NZF,
NMZ
and
NMCO
are
current
as
of
April
30,
2023.
Each
Fund’s
distribution
levels
may
vary
over
time
based
on
each
Fund’s
investment
activity
and
portfolio
investments
value
changes.
During
the
current
reporting
period,
each
Fund’s
distributions
to
common
shareholders
were
as
shown
in
the
accompanying
table.
NVG,
NZF,
NMZ
and
NMCO
seek
to
pay
regular
monthly
dividends
out
of
their
net
investment
income
at
a
rate
that
reflects
their
past
and
projected
net
income
performance.
To
permit
each
Fund
to
maintain
a
more
stable
monthly
dividend,
the
Fund
may
pay
dividends
at
a
rate
that
may
be
more
or
less
than
the
amount
of
net
income
actually
earned
by
the
Fund
during
the
period.
Distributions
to
common
shareholders
are
determined
on
a
tax
basis,
which
may
differ
from
amounts
recorded
in
the
accounting
records.
In
instances
where
the
monthly
dividend
exceeds
the
earned
net
investment
income,
the
Fund
would
report
a
negative
undistributed
net
ordinary
income.
Refer
to
Notes
to
Financial
Statements
for
additional
information
regarding
the
amounts
of
undistributed
net
ordinary
income
and
undistributed
net
long-term
capital
gains
and
the
character
of
the
actual
distributions
paid
by
the
Fund
during
the
period.
All
monthly
dividends
paid
by
NVG,
NZF,
NMZ
and
NMCO
during
the
current
reporting
period
were
paid
from
net
investment
income.
If
a
portion
of
the
Fund’s
monthly
distributions
is
sourced
or
comprised
of
elements
other
than
net
investment
income,
including
capital
gains
and/or
a
return
of
capital,
shareholders
will
be
notified
of
those
sources.
For
financial
reporting
purposes,
the
per
share
amounts
of
each
Fund’s
distributions
for
the
reporting
period
are
presented
in
this
report’s
Financial
Highlights.
For
income
tax
purposes,
distribution
information
for
each
Fund
as
of
its
most
recent
tax
year
end
is
presented
within
the
Notes
to
Financial
Statements
of
this
report.
COMMON
SHARE
DISTRIBUTION
INFORMATION
FOR
NDMO
NDMO
makes
regular
cash
distributions
to
shareholders
of
a
stated
dollar
amount
per
share.
Subject
to
approval
and
oversight
by
the
Board
of
Trustees,
the
Fund
seeks
to
maintain
a
stable
distribution
level
designed
to
deliver
the
long-term
return
potential
of
the
Fund’s
investment
strategy
through
regular
distributions
(a
“Managed
Distribution
Program”).
The
practice
of
maintaining
a
stable
distribution
level
had
no
material
effect
on
the
Fund’s
investment
strategy
during
the
most
recent
fiscal
period
and
is
not
expected
to
have
such
an
effect
in
future
periods,
however,
distributions
in
excess
of
Fund
returns
will
cause
its
NAV
per
share
to
erode.
For
additional
information,
refer
to
the
distribution
information
section
below
and
in
the
Notes
to
Financial
Statements
herein.
This
notice
provides
shareholders
with
information
regarding
fund
distributions,
as
required
by
current
securities
laws.
You
should
not
draw
any
conclusions
about
the
Fund’s
investment
performance
from
the
amount
of
this
distribution
or
from
the
terms
of
the
Fund’s
Managed
Distribution
Policy.
The
following
table
provides
estimates
of
the
Fund’s
distribution
sources,
reflecting
year-to-date
cumulative
experience
through
the
month-end
prior
to
the
latest
distribution.
The
Fund
attributes
these
estimates
equally
to
each
regular
distribution
throughout
the
year.
Consequently,
the
estimated
information
as
of
the
specified
month-end
shown
below
is
for
the
current
distribution,
and
also
represents
an
updated
estimate
for
all
prior
months
in
the
year.
It
is
estimated
that
the
Fund
has
distributed
more
than
its
income
and
net
realized
capital
gains;
therefore,
a
portion
of
the
distributions
may
be
(and
is
shown
below
as
being
estimated
to
be)
a
return
of
capital.
A
return
of
capital
may
occur,
for
example,
when
some
or
all
of
the
money
that
you
invested
in
the
Fund
is
paid
back
to
you.
A
return
of
capital
distribution
does
not
necessarily
reflect
the
Fund’s
investment
performance
and
should
not
be
confused
with
“yield”
or
“income.”
Per
Common
Share
Amounts
Monthly
Distributions
(Ex-Dividend
Date)
NVG
NZF
NMZ
NMCO
November
$0.0545
$0.0505
$0.0535
$0.0575
December
0.0545
0.0505
0.0535
0.0575
January
0.0425
0.0430
0.0455
0.0525
February
0.0425
0.0430
0.0455
0.0525
March
0.0425
0.0430
0.0455
0.0525
April
0.0425
0.0432
0.0455
0.0500
Total
Distributions
from
Net
Investment
Income
$0.2790
$0.2732
$0.2890
$0.3225
Yields
NVG
NZF
NMZ
NMCO
Market
Yield
1
4.32%
4.44%
5.06%
5.41%
Taxable-Equivalent
Yield
1
7.30%
7.50%
8.55%
9.14%
1
Market
Yield
is
based
on
the
Fund’s
current
annualized
monthly
dividend
divided
by
the
Fund’s
current
market
price
as
of
the
end
of
the
reporting
period.
Taxable-
Equivalent
Yield
represents
the
yield
that
must
be
earned
on
a
fully
taxable
investment
in
order
to
equal
the
yield
of
the
Fund
on
an
after-tax
basis.
It
is
based
on
a
federal
income
tax
rate
of
40.8%.
Your
actual
federal
income
tax
rate
may
differ
from
the
assumed
rate.
The
Taxable-Equivalent
Yield
also
takes
into
account
the
percentage
of
the
Fund’s
income
generated
and
paid
by
the
Fund
(based
on
payments
made
during
the
previous
calendar
year)
that
was
not
exempt
from
federal
income
tax.
Separately,
if
the
comparison
were
instead
to
investments
that
generate
qualified
dividend
income,
which
is
taxable
at
a
rate
lower
than
an
individual’s
ordinary
graduated
tax
rate,
the
fund’s
Taxable-Equivalent
Yield
would
be
lower.
8
Common
Share
Information
(Unaudited)
(continued)
The
amounts
and
sources
of
distributions
reported
in
this
notice
are
only
estimates
and
are
not
being
provided
for
tax
reporting
purposes.
The
actual
amounts
and
sources
of
the
amounts
for
tax
reporting
purposes
will
depend
upon
the
Fund's
investment
experience
during
the
remainder
of
its
fiscal
year
and
may
be
subject
to
changes
based
on
tax
regulations.
The
Fund
will
send
a
Form
1099-DIV
for
the
calendar
year
that
will
tell
you
how
to
report
these
distributions
for
federal
income
tax
purposes.
More
details
about
the
Fund’s
distributions
and
the
basis
for
these
estimates
are
available
on
www.nuveen.com/cef.
The
following
table
provides
information
regarding
the
Fund’s
distributions
and
total
return
performance
over
various
time
periods.
This
information
is
intended
to
help
you
better
understand
whether
the
Fund’s
returns
for
the
specified
time
periods
were
sufficient
to
meet
its
distributions.
NUVEEN
CLOSED-END
FUND
DISTRIBUTION
AMOUNTS
The
Nuveen
Closed-End
Funds’
monthly
and
quarterly
periodic
distributions
to
shareholders
are
posted
on
www.nuveen.com
and
can
be
found
on
Nuveen’s
enhanced
closed-end
fund
resource
page,
which
is
at
https://www.nuveen.com/resource-center-closedend
funds,
along
with
other
Nuveen
closed-end
fund
product
updates.
To
ensure
timely
access
to
the
latest
information,
shareholders
may
use
a
subscribe
function,
which
can
be
activated
at
this
web
page
(https://www.nuveen.com/subscriptions).
COMMON
SHARE
EQUITY
SHELF
PROGRAMS
During
the
current
reporting
period,
the
Fund was
authorized
by
the
Securities
and
Exchange
Commission
to
issue
additional
common
shares
through
an
equity
shelf
program
(Shelf
Offering).
Under
these
programs,
the
Fund,
subject
to
market
conditions,
may
raise
additional
capital
from
time
to
time
in
varying
amounts
and
offering
methods
at
a
net
price
at
or
above
the
Fund's
NAV
per
common
share.
The
maximum
aggregate
offering under
these
Shelf
Offerings
are
as
shown
in
the
accompanying
table.
During
the
current
reporting
period,
Funds’
sold
common
shares
through
their
Shelf
Offering
at
a
weighted
average
premium
to
their
NAV
per
common
share
as
shown
in
the
accompanying
table.
Refer
to
Notes
to
Financial
Statements,
for
further
details
of
Shelf
Offerings
and
the
Fund’s
transactions.
COMMON
SHARE
REPURCHASES
During
August
2022,
the
Funds’
Board
of
0Trustees
reauthorized
an
open-market
share
repurchase
program,
allowing
each
Fund
to
repurchase
an
aggregate
of
up
to
approximately
10%
of
its
outstanding
common
shares.
During
the
current
reporting
period,
the
Funds
did
not
repurchase
any
of
their
outstanding
common
shares.
As
of
April
30,
2023,
(and
since
the
inception
of
the
Funds’
repurchase
programs),
each
Fund
has
cumulatively
repurchased
and
retired
its
outstanding
common
shares
as
shown
in
the
accompanying
table.
Data
as
of
April
30,
2023
Fiscal
YTD
Per
Share
Estimated
Sources
of
Distribution
Estimated
Percentage
of
Distributions
Per
Share
Distribution
Net
Investment
Income
Long-Term
Gains
Short-Term
Gains
Return
of
Capital
Net
Investment
Income
Long-Term
Gains
Short-Term
Gains
Return
of
Capital
$0.4300
$0.2201
$0.0000
$0.0000
$0.2099
51.2%
0.0%
0.0%
48.8%
Data
as
of
April
30,
2023
Annualized
Cumulative
Latest
Monthly
Current
Since
Inception
Fiscal
YTD
Fiscal
Inception
Date
Per
Share
Distribution
Fiscal
YTD
Distribution
Net
Asset
Value
(NAV)
Distribution
on
NAV
Return
on
NAV
Distributions
on
NAV
YTD
Return
on
NAV
8/26/2020
$0.0620
$0.4300
$11.03
7.80%
(4.91)%
3.90%
10.79%
NVG
NMZ*
NMCO
NDMO
Maximum
aggregate
offering
Unlimited
Unlimited
$90,000,000
$250,000,000
*
The
Fund
carried
forward
13,340,607
common
shares
from
the
19,500,000
additional
previously
authorized
common
shares.
NMZ
NMCO
Common
shares
sold
through
shelf
offering
904,034
30,416
Weighted
average
premium
to
NAV
per
common
share
sold
1.23%
1.12%
9
OTHER
COMMON
SHARE
INFORMATION
As
of
April
30,
2023,
the
Funds’
common
share
prices
were
trading
at
a
premium/(discount)
to
their
common
share
NAVs
and
trading
at
an
average
premium/(discount)
to
NAV
during
the
current
reporting
period,
as
follows:
NVG
NZF
NMZ
NMCO
NDMO
Common
shares
repurchased
and
retired
202,500
47,500
0
0
0
Common
shares
authorized
for
repurchase
21,350,000
16,535,000
10,755,000
5,425,000
5,945,000
NVG
NZF
NMZ
NMCO
NDMO
Common
share
NAV
$13.55
$13.59
$11.16
$11.95
$11.03
Common
share
price
$11.80
$11.67
$10.80
$11.09
$10.63
Premium/(Discount)
to
NAV
(12.92)%
(14.13)%
(3.23)%
(7.20)%
(3.63)%
Average
premium/(discount)
to
NAV
(11.20)%
(11.67)%
(3.89)%
(4.82)%
(2.36)%
10
About
the
Funds’
Benchmarks
NVG
Blended
Benchmark:
Consists
of:
1)
60%
S&P
Municipal
Bond
Investment
Grade
Index
(defined
herein),
and
2)
40%
S&P
Municipal
Bond
High
Yield
Index
(defined
herein).
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
April
10,
2016.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
NZF
Blended
Benchmark:
Consists
of:
1)
60%
S&P
Municipal
Bond
Investment
Grade
Index
(defined
herein),
and
2)
40%
S&P
Municipal
Bond
High
Yield
Index
(defined
herein).
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
April
10,
2016.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
S&P
Municipal
Bond
High
Yield
Index:
An
index
designed
to
measure
the
performance
of
tax-exempt
high
yield
municipal
bonds.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
S&P
Municipal
Bond
Index
:
An
index
designed
to
measure
the
performance
of
the
tax-exempt
U.S.
municipal
bond
market.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
S&P
Municipal
Bond
Investment
Grade
Index:
An
index
designed
to
measure
the
performance
of
tax-exempt
investment
grade
municipal
bonds.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
S&P
Municipal
Yield
Index:
An
index
that
is
structured
so
that
70%
of
the
index
consists
of
bonds
that
are
either
not
rated
or
are
rated
below
investment
grade,
20%
are
rated
BBB/Baa,
and
10%
are
rated
single
A.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
12
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
Performance
Overview
and
Holding
Summaries
April
30,
2023
NVG
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
*For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
NVG
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consists
of:
1)
60%
S&P
Municipal
Bond
Investment
Grade
Index
and
2)
40%
S&P
Municipal
Bond
High
Yield
Index.
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
April
10,
2016.
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Current
per-
formance
may
be
higher
or
lower
than
the
data
shown.
Returns
do
not
reflect
the
deduction
of
taxes
that
shareholders
may
have
to
pay
on
Fund
distributions
or
upon
the
sale
of
Fund
shares.
Returns
at
NAV
are
net
of
Fund
expenses,
and
assume
reinvestment
of
distributions.
Comparative
index
return
information
is
provided
for
the
Fund’s
shares
at
NAV
only.
Indexes
are
not
available
for
direct
investment.
Daily
Common
Share
NAV
and
Share
Price
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
5-Year
10-Year
NVG
at
Common
Share
NAV
3/25/02
13.47%
(1.62)%
1.79%
3.36%
NVG
at
Common
Share
Price
3/25/02
9.48%
(9.80)%
0.83%
3.28%
S&P
Municipal
Bond
Index
7.15%
2.44%
2.06%
2.27%
NVG
Blended
Benchmark
7.74%
1.62%
2.47%
2.75%
13
Holdings
Summaries
as
of
April
30,
2023
This
data
relates
to
the
securities
held
in
the
Fund’s
portfolio
of
investments
as
of
the
end
of
the
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below-investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Fund
Allocation
(%
of
net
assets)
Municipal
Bonds
162.0‌%
Common
Stocks
1.8‌%
Corporate
Bonds
0.1‌%
Short-Term
Municipal
Bonds
0.7‌%
Other
Assets
&
Liabilities,
Net
3.1%
Floating
Rate
Obligations
(7.2)%
MFP
Shares,
Net
(17.8‌)%
VRDP
Shares,
Net
(42.7‌)%
Net
Assets
100‌%
Portfolio
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
9.8%
AAA
3.9%
AA
13.6%
A
23.7%
BBB
20.2%
BB
or
Lower
10.2%
N/R
(not
rated)
17.5%
N/A
(not
applicable)
1.1%
Total
100‌%
Portfolio
Composition
(%
of
total
investments)
Tax
Obligation/Limited
18.5%
Health
Care
14.8%
Transportation
11.0%
Tax
Obligation/General
10.8%
Utilities
9.5%
U.S.
Guaranteed
9.5%
Education
and
Civic
Organizations
9.4%
Other
15.3%
Common
Stocks
1.1%
Corporate
Bonds
0.1%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Illinois
15.3%
California
7.8%
Texas
7.1%
Colorado
6.4%
Ohio
5.5%
New
York
5.4%
Puerto
Rico
4.3%
New
Jersey
3.8%
Connecticut
3.2%
Pennsylvania
3.1%
Florida
2.6%
Wisconsin
2.6%
District
of
Columbia
2.3%
Georgia
2.2%
South
Carolina
1.9%
Massachusetts
1.8%
Arizona
1.5%
Alabama
1.5%
Missouri
1.4%
Rhode
Island
1.4%
Kentucky
1.3%
Minnesota
1.3%
Indiana
1.3%
Michigan
1.3%
North
Dakota
1.3%
Other
12.4%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
14
Nuveen
Municipal
Credit
Income
Fund
Performance
Overview
and
Holding
Summaries
April
30,
2023
NZF
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
*
For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
NZF
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consists
of:
1)
60%
S&P
Municipal
Bond
Investment
Grade
Index
and
2)
40%
S&P
Municipal
Bond
High
Yield
Index.
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
April
10,
2016.
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Current
per-
formance
may
be
higher
or
lower
than
the
data
shown.
Returns
do
not
reflect
the
deduction
of
taxes
that
shareholders
may
have
to
pay
on
Fund
distributions
or
upon
the
sale
of
Fund
shares.
Returns
at
NAV
are
net
of
Fund
expenses,
and
assume
reinvestment
of
distributions.
Comparative
index
return
information
is
provided
for
the
Fund’s
shares
at
NAV
only.
Indexes
are
not
available
for
direct
investment.
Daily
Common
Share
NAV
and
Share
Price
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
5-Year
10-Year
NZF
at
Common
Share
NAV
9/25/01
13.20%
(0.75)%
2.20%
3.37%
NZF
at
Common
Share
Price
9/25/01
10.24%
(7.03)%
1.22%
3.10%
S&P
Municipal
Bond
Index
7.15%
2.44%
2.06%
2.27%
NZF
Blended
Benchmark
7.74%
1.62%
2.47%
2.75%
15
Holdings
Summaries
as
of
April
30,
2023
This
data
relates
to
the
securities
held
in
the
Fund’s
portfolio
of
investments
as
of
the
end
of
the
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below-investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Fund
Allocation
(%
of
net
assets)
Municipal
Bonds
157.8‌%
Common
Stocks
4.5‌%
Investment
Companies
0.0‌%
Variable
Rate
Senior
Loan
Interests
0.0‌%
Other
Assets
&
Liabilities,
Net
3.4%
Borrowings
(2.5)%
Floating
Rate
Obligations
(13.3)%
MFP
Shares,
Net
(24.3‌)%
VRDP
Shares,
Net
(25.6‌)%
Net
Assets
100‌%
Portfolio
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
5.7%
AAA
1.2%
AA
16.0%
A
26.3%
BBB
22.5%
BB
or
Lower
11.9%
N/R
(not
rated)
13.7%
N/A
(not
applicable)
2.7%
Total
100‌%
Portfolio
Composition
(%
of
total
investments)
Health
Care
20.4%
Tax
Obligation/Limited
19.1%
Transportation
18.2%
Tax
Obligation/General
13.7%
Utilities
9.6%
U.S.
Guaranteed
5.5%
Education
and
Civic
Organizations
3.9%
Other
6.8%
Common
Stocks
2.8%
Variable
Rate
Senior
Loan
Interests
0.0%
Investment
Companies
0.0%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Illinois
14.3%
California
13.9%
New
York
9.9%
Ohio
6.5%
Florida
6.0%
Texas
5.5%
New
Jersey
4.7%
Colorado
4.4%
Puerto
Rico
4.2%
Georgia
3.8%
Pennsylvania
3.5%
Washington
2.4%
South
Carolina
2.0%
Wisconsin
1.9%
Indiana
1.6%
Louisiana
1.4%
Oklahoma
1.4%
Virginia
1.3%
North
Dakota
1.3%
Michigan
1.2%
Other
8.8%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
16
Nuveen
Municipal
High
Income
Opportunity
Fund
Performance
Overview
and
Holding
Summaries
as
of
April
30,
2023
NMZ
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
*For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
S&P
Municipal
Yield
Index.
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Current
per-
formance
may
be
higher
or
lower
than
the
data
shown.
Returns
do
not
reflect
the
deduction
of
taxes
that
shareholders
may
have
to
pay
on
Fund
distributions
or
upon
the
sale
of
Fund
shares.
Returns
at
NAV
are
net
of
Fund
expenses,
and
assume
reinvestment
of
distributions.
Comparative
index
return
information
is
provided
for
the
Fund’s
shares
at
NAV
only.
Indexes
are
not
available
for
direct
investment.
Daily
Common
Share
NAV
and
Share
Price
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
5-Year
10-Year
NMZ
at
Common
Share
NAV
11/19/03
14.88%
(2.37)%
2.23%
4.01%
NMZ
at
Common
Share
Price
11/19/03
12.64%
(6.27)%
2.76%
3.65%
S&P
Municipal
Yield
Index
9.47%
0.45%
2.99%
3.57%
17
Holdings
Summaries
as
of
April
30,
2023
This
data
relates
to
the
securities
held
in
the
Fund’s
portfolio
of
investments
as
of
the
end
of
the
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below-investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Fund
Allocation
(%
of
net
assets)
Municipal
Bonds
155.0‌%
Common
Stocks
5.0‌%
Variable
Rate
Senior
Loan
Interests
0.0‌%
Corporate
Bonds
0.0‌%
Other
Assets
&
Liabilities,
Net
3.7%
Floating
Rate
Obligations
(34.8)%
AMTP
Shares,
Net
(28.9‌)%
Net
Assets
100‌%
Portfolio
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
1.2%
AA
9.2%
A
14.7%
BBB
14.9%
BB
or
Lower
8.3%
N/R
(not
rated)
48.6%
N/A
(not
applicable)
3.1%
Total
100‌%
Portfolio
Composition
(%
of
total
investments)
Tax
Obligation/Limited
28.7%
Transportation
16.0%
Education
and
Civic
Organizations
12.5%
Health
Care
11.6%
Tax
Obligation/General
6.4%
Housing/Multifamily
5.9%
Industrials
4.9%
Other
10.9%
Common
Stocks
3.1%
Corporate
Bonds
0.0%
Variable
Rate
Senior
Loan
Interests
0.0%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Florida
12.3%
Illinois
11.7%
California
9.7%
Colorado
9.0%
Puerto
Rico
6.5%
New
York
6.4%
Wisconsin
5.5%
Texas
4.0%
Missouri
3.1%
Ohio
3.0%
New
Jersey
2.7%
Arizona
2.6%
Virginia
2.5%
Kentucky
2.2%
District
of
Columbia
2.2%
Michigan
2.0%
South
Carolina
1.6%
Pennsylvania
1.4%
Alabama
1.3%
Indiana
1.2%
Oklahoma
1.0%
Iowa
0.9%
Nevada
0.8%
Virgin
Islands
0.8%
Louisiana
0.7%
Other
4.9%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
18
Nuveen
Municipal
Credit
Opportunities
Fund
Performance
Overview
and
Holding
Summaries
as
of
April
30,
2023
NMCO
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
*For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
S&P
Municipal
Yield
Index.
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Current
per-
formance
may
be
higher
or
lower
than
the
data
shown.
Returns
do
not
reflect
the
deduction
of
taxes
that
shareholders
may
have
to
pay
on
Fund
distributions
or
upon
the
sale
of
Fund
shares.
Returns
at
NAV
are
net
of
Fund
expenses,
and
assume
reinvestment
of
distributions.
Comparative
index
return
information
is
provided
for
the
Fund’s
shares
at
NAV
only.
Indexes
are
not
available
for
direct
investment.
Daily
Common
Share
NAV
and
Share
Price
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
Since
Inception
NMCO
at
Common
Share
NAV
9/16/19
10.09%
(4.44)%
(1.16)%
NMCO
at
Common
Share
Price
9/16/19
9.80%
(7.39)%
(3.01)%
S&P
Municipal
Yield
Index
9.47%
0.45%
0.84%
19
Holdings
Summaries
as
of
April
30,
2023
This
data
relates
to
the
securities
held
in
the
Fund’s
portfolio
of
investments
as
of
the
end
of
the
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below-investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Fund
Allocation
(%
of
net
assets)
Municipal
Bonds
158.7‌%
Common
Stocks
10.2‌%
Corporate
Bonds
0.3‌%
Other
Assets
&
Liabilities,
Net
3.3%
Floating
Rate
Obligations
(3.9)%
MFP
Shares,
Net
(68.6‌)%
Net
Assets
100‌%
Portfolio
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
0.1%
AA
1.0%
A
3.5%
BBB
11.7%
BB
or
Lower
21.3%
N/R
(not
rated)
56.4%
N/A
(not
applicable)
6.0%
Total
100‌%
Portfolio
Composition
(%
of
total
investments)
Tax
Obligation/Limited
20.4%
Transportation
15.1%
Education
and
Civic
Organizations
11.3%
Industrials
10.4%
Tax
Obligation/General
8.0%
Health
Care
7.7%
Consumer
Staples
6.2%
Other
14.7%
Common
Stocks
6.0%
Corporate
Bonds
0.2%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Florida
16.5%
Illinois
9.5%
Puerto
Rico
8.6%
New
York
7.4%
Colorado
7.3%
Ohio
6.8%
Wisconsin
6.2%
California
4.2%
Alabama
3.7%
Pennsylvania
3.6%
Arizona
3.4%
New
Jersey
2.4%
Texas
2.3%
District
of
Columbia
2.1%
Virgin
Islands
2.1%
Nevada
1.7%
Georgia
1.3%
Tennessee
1.2%
Indiana
0.9%
Oklahoma
0.8%
Louisiana
0.8%
New
Mexico
0.8%
Kansas
0.7%
Iowa
0.7%
Virginia
0.7%
Other
4.3%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
20
Nuveen
Dynamic
Municipal
Opportunities
Fund
Performance
Overview
and
Holding
Summaries
as
of
April
30,
2023
NDMO
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
*For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
S&P
Municipal
Bond
Index.
Performance
data
shown
represents
past
performance
and
does
not
predict
or
guarantee
future
results.
Current
per-
formance
may
be
higher
or
lower
than
the
data
shown.
Returns
do
not
reflect
the
deduction
of
taxes
that
shareholders
may
have
to
pay
on
Fund
distributions
or
upon
the
sale
of
Fund
shares.
Returns
at
NAV
are
net
of
Fund
expenses,
and
assume
reinvestment
of
distributions.
Comparative
index
return
information
is
provided
for
the
Fund’s
shares
at
NAV
only.
Indexes
are
not
available
for
direct
investment.
Daily
Common
Share
NAV
and
Share
Price
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
Since
Inception
NDMO
at
Common
Share
NAV
8/26/20
10.79%
(4.66)%
(4.91)%
NDMO
at
Common
Share
Price
8/26/20
17.35%
0.55%
(6.07)%
S&P
Municipal
Yield
Index
9.47%
0.45%
(0.10)%
S&P
Municipal
Bond
Index
7.15%
2.44%
(0.98)%
21
Holdings
Summaries
as
of
April
30,
2023
This
data
relates
to
the
securities
held
in
the
Fund’s
portfolio
of
investments
as
of
the
end
of
the
reporting
period.
It
should
not
be
construed
as
a
measure
of
performance
for
the
Fund
itself.
Holdings
are
subject
to
change.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
Credit
ratings
are
subject
to
change.
AAA,
AA,
A
and
BBB
are
investment
grade
ratings;
BB,
B,
CCC,
CC,
C
and
D
are
below-investment
grade
ratings.
Holdings
designated
N/R
are
not
rated
by
these
national
rating
agencies.
Fund
Allocation
(%
of
net
assets)
Municipal
Bonds
117.5‌%
U.S.
Government
and
Agency
Obligations
15.1‌%
Corporate
Bonds
0.5‌%
Other
Assets
&
Liabilities,
Net
3.5%
Floating
Rate
Obligations
(0.1)%
MFP
Shares,
Net
(36.5‌)%
Net
Assets
100‌%
Portfolio
Credit
Quality
(%
of
total
investment
exposure)
AAA
15.4%
AA
14.0%
A
11.9%
BBB
6.7%
BB
or
Lower
9.6%
N/R
(not
rated)
42.4%
Total
100‌%
Portfolio
Composition
(%
of
total
investments)
Tax
Obligation/Limited
28.3%
Transportation
15.3%
Education
and
Civic
Organizations
13.5%
Tax
Obligation/General
11.1%
Industrials
6.6%
Health
Care
4.3%
Other
9.1%
U.S.
Government
and
Agency
Obligations
11.4%
Corporate
Bonds
0.4%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Colorado
14.6%
Florida
12.0%
Texas
11.0%
New
York
10.8%
California
8.8%
Illinois
6.4%
Arizona
5.4%
Pennsylvania
3.8%
Puerto
Rico
3.2%
Wisconsin
3.0%
Ohio
2.8%
Indiana
2.6%
Arkansas
1.5%
District
of
Columbia
1.5%
Washington
1.3%
Missouri
1.0%
Alabama
1.0%
Maryland
0.9%
Virginia
0.9%
New
Mexico
0.8%
Kentucky
0.7%
Michigan
0.7%
Massachusetts
0.6%
Minnesota
0.6%
West
Virginia
0.5%
Other
3.6%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
22
Shareholder
Meeting
Report
A
special
meeting
of
shareholders
was
held
on
February
8,
2023
for
NZF;
at
this
meeting
the
only
proposal
presented
to
preferred
shareholders
was
to
approve
an
Agreement
and
Plan
of
Merger.
NZF
Preferred
Shares
To
approve
an
Agreement
and
Plan
of
Merger
For
10,320
Against
Abstain
Total
10,320
23
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
NVG
vb
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
163.9%  
(99.6%
of
Total
Investments) 
X
4,686,472,592
MUNICIPAL
BONDS
-
162.0%
(98.4%
of
Total
Investments)
X
4,686,472,592
Alabama
-
2.4%
(1.5%
of
Total
Investments)
$
3,645
Alabama
Private
Colleges
and
University
Facilities
Authority,
Limited
Obligation
Bonds,
University
of
Mobile
Project,
Series
2015A,
6.000%,
9/01/45,
144A
9/25
at
100.00
N/R  
$
3,676,894
5,000
Birmingham-Jefferson
Civic
Center
Authority,
Alabama,
Special
Tax
Bonds,
Series
2018A,
4.000%,
7/01/43
7/28
at
100.00
A-  
4,938,550
7,500
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Prepay
Morgan
Stanley
Series
2022C-1,
5.250%,
2/01/53,
(Mandatory
Put
6/01/29)
3/29
at
100.15
A1  
7,971,375
30,730
Lower
Alabama
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2016A,
5.000%,
9/01/46
No
Opt.
Call
A2  
31,598,123
8,100
Mobile
Spring
Hill
College
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
Spring
Hill
College
Project,
Series
2015,
5.875%,
4/15/45
4/25
at
100.00
N/R  
8,065,089
The
Improvement
District
of
the
City
of
Mobile
-
McGowin
Park
Project,
Alabama,
Sales
Tax
Revenue
Bonds,
Series
2016A:
1,000
5.250%,
8/01/30
8/26
at
100.00
N/R  
958,340
1,300
5.500%,
8/01/35
8/26
at
100.00
N/R  
1,219,387
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A:
3,205
4.500%,
5/01/32,
144A
2021
2021
5/29
at
100.00
N/R  
2,938,732
4,220
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R  
3,734,700
5,000
UAB
Medicine
Finance
Authority,
Alabama,
Revenue
Bonds,
Series
2019B,
4.000%,
9/01/44
9/29
at
100.00
AA-  
4,833,050
Total
Alabama
69,934,240
Alaska
-
0.5%
(0.3%
of
Total
Investments)
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1:
4,490
4.000%,
6/01/41
6/31
at
100.00
A-  
4,240,131
8,100
4.000%,
6/01/50
6/31
at
100.00
BBB+  
7,168,176
1,220
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-1
Class
2,
4.000%,
6/01/50
6/31
at
100.00
BBB-  
1,218,304
19,045
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2
Class
2,
0.000%,
6/01/66
6/31
at
30.73
N/R  
2,416,430
Total
Alaska
15,043,041
Arizona
-
2.4%
(1.5%
of
Total
Investments)
1,475
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Basis
Schools,
Inc.
Projects,
Series
2017D,
5.000%,
7/01/47,
144A
7/27
at
100.00
BB  
1,354,802
6,290
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2019,
5.000%,
7/01/54,
144A
7/29
at
100.00
BB+  
5,701,822
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
24
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
3,260
Arizona
Industrial
Development
Authority,
Education
Facility
Revenue
Bonds,
Caurus
Academy
Project,
Series
2018A,
6.375%,
6/01/39,
144A
6/28
at
100.00
N/R  
$
3,329,764
3,142
Cahava
Springs
Revitalization
District,
Cave
Creek,
Arizona,
Special
Assessment
Bonds,
Series
2017A,
7.000%,
7/01/41,
144A
2021
960240
(4)
7/27
at
100.00
N/R  
2,419,491
4,885
Glendale
Industrial
Development
Authority,
Arizona,
Senior
Living
Revenue
Bonds,
Royal
Oaks
Royal
Oaks
-
Inspirata
Pointe
Project,
Series
2020A,
5.000%,
5/15/56
5/26
at
103.00
BBB-  
4,024,116
1,350
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Series
2021A,
4.000%,
7/01/56,
144A
7/31
at
100.00
BB+  
982,976
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Taxable
Series
2019B:
1,730
5.000%,
7/01/49,
144A
7/29
at
100.00
Ba2  
1,544,699
1,975
5.000%,
7/01/54,
144A
7/29
at
100.00
Ba2  
1,730,357
800
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Reid
Traditional
School
Projects,
Series
2016,
5.000%,
7/01/47
7/26
at
100.00
Baa3  
805,896
Phoenix
Civic
Improvement
Corporation,
Arizona,
Revenue
Bonds,
Civic
Plaza
Expansion
Project,
Series
2005B:
6,000
5.500%,
7/01/37
-
FGIC
Insured
No
Opt.
Call
AA  
7,450,080
8,755
5.500%,
7/01/39
-
FGIC
Insured
No
Opt.
Call
AA  
10,815,664
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Basis
Schools,
Inc.
Projects,
Series
2016A:
620
5.000%,
7/01/35,
144A
7/25
at
100.00
BB  
621,972
1,025
5.000%,
7/01/46,
144A
7/25
at
100.00
BB  
946,895
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016:
1,130
5.250%,
7/01/36
7/26
at
100.00
BB-  
1,128,926
1,850
5.375%,
7/01/46
7/26
at
100.00
BB-  
1,758,999
2,135
5.500%,
7/01/51
7/26
at
100.00
BB-  
2,029,104
2,920
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019,
5.875%,
7/01/51,
144A
7/26
at
103.00
N/R  
2,921,431
885
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2016,
6.500%,
2/01/48,
144A
2/24
at
100.00
N/R  
889,230
3,050
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2017,
6.750%,
2/01/50,
144A
2/28
at
100.00
N/R  
3,127,745
5,000
Salt
River
Project
Agricultural
Improvement
and
Power
District,
Arizona,
Electric
System
Revenue
Bonds,
Series
2023A,
5.000%,
1/01/50
1/33
at
100.00
AA+  
5,590,850
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007:
6,820
5.000%,
12/01/32
No
Opt.
Call
BBB+  
7,253,070
2,365
5.000%,
12/01/37
No
Opt.
Call
BBB+  
2,453,451
2,000
Yavapai
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
Yavapai
Regional
Medical
Center,
Series
2013A,
5.250%,
8/01/33
8/23
at
100.00
A2  
2,005,260
Total
Arizona
70,886,600
25
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arkansas
-
0.3%
(0.2%
of
Total
Investments)
Arkansas
Development
Finance
Authority,
Tobacco
Settlement
Revenue
Bonds,
Arkansas
Cancer
Research
Center
Project,
Series
2006:
$
2,635
0.000%,
7/01/36
-
AMBAC
Insured
No
Opt.
Call
Aa2  
$
1,548,853
20,480
0.000%,
7/01/46
-
AMBAC
Insured
No
Opt.
Call
Aa2  
6,865,306
Total
Arkansas
8,414,159
California
-
12.8%
(7.8%
of
Total
Investments)
6,135
Alhambra
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Capital
Appreciation
Series
2009B,
0.000%,
8/01/30
-
AGC
Insured
No
Opt.
Call
AA  
4,949,350
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C:
6,820
0.000%,
9/01/35
-
AGM
Insured,
(ETM)
No
Opt.
Call
AA  (5)
4,652,127
5,795
0.000%,
9/01/35
-
AGM
Insured
No
Opt.
Call
AA  
3,642,447
4,100
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A,
5.000%,
3/01/41
3/26
at
100.00
BBB  
4,109,553
3,875
Bakersfield
City
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Election
2016
Series
2022C,
2.500%,
11/01/46
-
BAM
Insured
11/31
at
100.00
Aa3  
2,779,344
1,650
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
5.250%,
1/01/54,
(Mandatory
Put
10/01/31)
10/30
at
100.65
Baa1  
1,723,689
2,325
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Fountains
at
Emerald
Park,
Senior
Lien
Series
2021A-
1,
3.000%,
8/01/56,
144A
8/31
at
100.00
N/R  
1,549,729
2,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-1,
3.000%,
2/01/57,
144A
8/32
at
100.00
N/R  
1,336,460
1,430
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A,
4.000%,
6/01/49
6/30
at
100.00
BBB+  
1,327,054
455
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-1,
5.000%,
6/01/49
6/30
at
100.00
BBB+  
459,614
50,460
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-2,
0.000%,
6/01/55
6/30
at
26.72
N/R  
8,579,209
5,000
California
Educational
Facilities
Authority,
Revenue
Bonds,
Stanford
University
Series
2019V-1,
5.000%,
5/01/49
(6)
No
Opt.
Call
AAA  
5,925,800
12,940
California
Educational
Facilities
Authority,
Revenue
Bonds,
Stanford
University
Series
2019V-1,
5.000%,
5/01/49,
(UB)
(6)
No
Opt.
Call
AAA  
15,335,970
10,000
California
Educational
Facilities
Authority,
Revenue
Bonds,
Stanford
University
Series
2021V-2,
5.000%,
4/01/51,
(UB)
(6)
No
Opt.
Call
AAA  
11,835,600
8,300
California
Educational
Facilities
Authority,
Revenue
Bonds,Stanford
University,
Refunding
Series
2014U-6,
5.000%,
5/01/45,
(UB)
(6)
No
Opt.
Call
AAA  
9,889,201
1,600
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph
Health
System,
Series
2013A,
5.000%,
7/01/37,
(Pre-refunded
7/01/23)
7/23
at
100.00
A  (5)
1,604,400
6,665
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Stanford
Hospitals
and
Clinics,
Series
2015A,
5.000%,
8/15/54,
(UB)
(6)
8/25
at
100.00
AA-  
6,827,759
5,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Sutter
Health,
Series
2013A,
5.000%,
8/15/52,
(Pre-refunded
8/15/23)
8/23
at
100.00
A+  (5)
5,025,850
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
26
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
California
Municipal
Finance
Authority,
Charter
School
Revenue
Bonds,
Palmdale
Aerospace
Academy
Project,
Series
2016A:
$
3,065
5.000%,
7/01/31,
144A
7/26
at
100.00
BB  
$
3,073,674
1,000
5.000%,
7/01/36,
144A
7/26
at
100.00
BB  
972,670
555
5.000%,
7/01/41,
144A
7/26
at
100.00
BB  
520,302
195
5.000%,
7/01/46,
144A
7/26
at
100.00
BB  
176,621
California
Municipal
Finance
Authority,
Education
Revenue
Bonds,  American
Heritage
Foundation
Project,
Series
2016A:
260
5.000%,
6/01/36
6/26
at
100.00
BBB-  
265,286
435
5.000%,
6/01/46
6/26
at
100.00
BBB-  
436,492
3,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Simpson
University,
Series
2020A,
6.000%,
10/01/50,
144A
10/27
at
103.00
N/R  
3,026,550
5,425
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
San
Diego
County
Water
Authority
Desalination
Project
Pipeline,
Refunding
Series
2019,
5.000%,
11/21/45,
144A
1/29
at
100.00
Baa3  
5,504,748
2,050
California
Public
Finance
Authority,
Revenue
Bonds,
Henry
Mayo
Newhall
Hospital,
Series
2017,
5.000%,
10/15/47
10/26
at
100.00
BBB-  
2,057,400
735
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Downtown
College
Prep
-
Obligated
Group,
Series
2016,
5.000%,
6/01/46,
144A
6/26
at
100.00
N/R  
693,664
715
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
?
Obligated
Group,
Series
2016A,
5.000%,
6/01/36,
144A
6/25
at
100.00
N/R  
692,292
570
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Rocketship
Education
?
Obligated
Group,
Series
2017A,
5.125%,
6/01/47,
144A
6/26
at
100.00
N/R  
528,025
80
California
State,
General
Obligation
Bonds,
Series
2002,
5.000%,
10/01/32
-
NPFG
Insured
5/23
at
100.00
AA-  
80,158
5
California
State,
General
Obligation
Bonds,
Series
2004,
5.000%,
4/01/31
-
AMBAC
Insured
5/23
at
100.00
AA-  
5,010
10,695
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A,
5.500%,
12/01/54
12/24
at
100.00
BB  
10,677,781
65,430
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A,
5.250%,
12/01/56,
144A
6/26
at
100.00
BB  
62,736,247
7,130
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A,
5.500%,
12/01/58,
144A
6/28
at
100.00
BB  
7,095,990
4,000
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Huntington
Memorial
Hospital,
Refunding
Series
2014B,
4.000%,
7/01/39,
(Pre-refunded
7/01/24)
7/24
at
100.00
N/R  (5)
4,045,680
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
25
5.750%,
7/01/30
(4),(7)
1/22
at
100.00
N/R  
24,727
71
5.750%,
7/01/35
(4),(7)
1/22
at
100.00
N/R  
71,362
5,000
Clovis
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Series
2001A,
0.000%,
8/01/25
-
FGIC
Insured,
(ETM)
No
Opt.
Call
Baa2  (5)
4,689,350
5,330
CMFA
Special
Finance
Agency
VII,
California,
Essential
Housing
Revenue
Bonds,
Senior
Lien
Series
2021A-1,
3.000%,
8/01/56,
144A
8/31
at
100.00
N/R  
3,552,711
4,000
CMFA
Special
Finance
Agency,
California,
Essential
Housing
Revenue
Bonds,
Latitude
33,
Senior
Series
2021A-1,
3.000%,
12/01/56,
144A
12/31
at
100.00
N/R  
2,661,160
27
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
3,410
Coachella
Valley
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Election
2005
Series
2010C,
0.000%,
8/01/33
-
AGM
Insured
No
Opt.
Call
A1  
$
2,413,018
14,375
Corona-Norco
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
2006
Refunding
Series
2009C,
0.000%,
8/01/39
-
AGM
Insured
No
Opt.
Call
Aa3  
7,131,869
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
777
Place-Pomona,
Senior
Lien
Series
2021A-1,
3.600%,
5/01/47,
144A
5/32
at
100.00
N/R  
1,582,720
5,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Escondido
Portfolio,
Social
Senior
Lien
Series
2021A-2,
4.000%,
6/01/58,
144A
6/31
at
100.00
N/R  
3,820,550
4,720
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-1,
3.400%,
10/01/46,
144A
10/31
at
100.00
N/R  
3,641,150
20,985
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Senior
Lien
Series
2021A-1,
3.125%,
7/01/56,
144A
7/32
at
100.00
N/R  
14,361,714
5,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Series
2021A-2,
3.000%,
12/01/56
12/31
at
100.00
N/R  
3,338,400
2,475
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Vineyard
Gardens
Apartments,
Senior
Lien
Series
2021A,
3.250%,
10/01/58,
144A
4/32
at
100.00
N/R  
1,682,901
12,500
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2,
4.000%,
12/01/58
6/32
at
100.00
N/R  
9,366,875
El
Rancho
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2010
Series
2011A:
2,615
6.900%,
8/01/31
-
AGM
Insured
8/28
at
100.00
A1  
3,092,211
3,600
7.050%,
8/01/34
-
AGM
Insured
8/28
at
100.00
A1  
4,260,492
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A:
3,960
0.000%,
1/15/34
-
AGM
Insured
No
Opt.
Call
BBB+  
2,799,680
5,000
0.000%,
1/15/35
-
AGM
Insured
No
Opt.
Call
BBB+  
3,372,500
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A:
910
0.000%,
1/15/42
(8)
1/31
at
100.00
Baa2  
1,062,379
6,610
6.000%,
1/15/49,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2  (5)
6,748,546
4,595
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Term
Rate
Sub-Series
2013B-1,
3.500%,
1/15/53
7/29
at
100.00
Baa2  
3,832,460
33,860
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Capital
Appreciation
Series
2021B-
2,
0.000%,
6/01/66
12/31
at
27.75
N/R  
3,755,413
1,825
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2022A-1,
5.000%,
6/01/51
12/31
at
100.00
BBB+  
1,911,724
Kern
Community
College
District,
California,
General
Obligation
Bonds,
Safety,
Repair
&
Improvement,
Election
2002
Series
2006:
5,600
0.000%,
11/01/24
-
AGM
Insured
No
Opt.
Call
AA  
5,336,016
5,795
0.000%,
11/01/25
-
AGM
Insured
No
Opt.
Call
AA  
5,363,330
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
28
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
1,075
Lincoln
Public
Financing
Authority,
Placer
County,
California,
Twelve
Bridges
Limited
Obligation
Revenue
Bonds,
Refunding
Series
2011A,
4.375%,
9/02/25
-
AGM
Insured
5/23
at
100.00
AA  
$
1,076,225
7,575
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A,
0.000%,
8/01/43
(8)
8/35
at
100.00
AA  
6,976,651
3,310
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009B,
6.500%,
11/01/39
No
Opt.
Call
BBB+  
3,883,656
Oceanside
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Capital
Appreciation,
2008
Election
Series
2009A:
3,960
0.000%,
8/01/26
-
AGC
Insured
No
Opt.
Call
Aa3  
3,586,176
605
0.000%,
8/01/26
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
553,448
530
0.000%,
8/01/26
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
484,839
270
0.000%,
8/01/26
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
246,993
540
0.000%,
8/01/26
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
493,987
1,715
0.000%,
8/01/28
-
AGC
Insured
No
Opt.
Call
Aa3  
1,463,341
170
0.000%,
8/01/28
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
148,287
225
0.000%,
8/01/28
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
196,263
110
0.000%,
8/01/28
-
AGC
Insured,
(ETM)
No
Opt.
Call
Aa3  (5)
95,951
3,905
Orange
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2015-1
Esencia
Village,
Series
2015A,
4.250%,
8/15/38
8/25
at
100.00
N/R  
3,907,851
Palo
Alto,
California,
Certificates
of
Participation,
Public
Safety
Building,
Series
2021:
2,560
2.000%,
11/01/42
11/30
at
100.00
AA+  
1,772,672
1,940
2.125%,
11/01/44
11/30
at
100.00
AA+  
1,335,147
3,700
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
of
2004,
Series
2007A,
0.000%,
8/01/25
-
NPFG
Insured
No
Opt.
Call
BBB-  
3,421,871
7,935
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Series
2009A,
7.000%,
8/01/38
-
AGC
Insured
8/29
at
100.00
BBB-  
9,218,089
9,145
Pittsburg
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Los
Medanos
Community
Development
Project,
Series
1999,
0.000%,
8/01/30
-
AMBAC
Insured
No
Opt.
Call
A+  
7,109,049
700
Pleasanton
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Election
of
2022,
Series
2023,
4.000%,
8/01/48
8/31
at
100.00
Aa2  
691,096
670
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Senior
Lien
Bonds,
Series
2013A,
5.750%,
6/01/48,
(Pre-refunded
6/01/23)
6/23
at
100.00
A  (5)
671,347
San
Clemente,
California,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2006-1
Marblehead
Coastal,
Series
2015:
480
5.000%,
9/01/40
9/25
at
100.00
N/R  
487,344
905
5.000%,
9/01/46
9/25
at
100.00
N/R  
915,109
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A:
2,680
5.000%,
1/15/44,
(Pre-refunded
1/15/25)
1/25
at
100.00
A  (5)
2,781,786
8,275
5.000%,
1/15/50,
(Pre-refunded
1/15/25)
1/25
at
100.00
A  (5)
8,589,285
3,400
San
Mateo
County
Community
College
District,
California,
General
Obligation
Bonds,
Series
2006C,
0.000%,
9/01/30
-
NPFG
Insured
No
Opt.
Call
AAA  
2,764,608
4,340
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
1997
Election
Series
2012G,
0.000%,
8/01/34
-
AGM
Insured
No
Opt.
Call
AA  
2,854,852
5,690
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2015,
0.000%,
8/01/42
8/25
at
41.10
A3  
2,110,762
29
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
Santa
Ana
Financing
Authority,
California,
Lease
Revenue
Bonds,
Police
Administration
and
Housing
Facility,
Series
1994A:
$
2,455
6.250%,
7/01/24
No
Opt.
Call
Baa2  
$
2,506,015
2,455
6.250%,
7/01/24,
(ETM)
No
Opt.
Call
Baa2  (5)
2,504,959
3,500
Saugus
Union
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2006,
0.000%,
8/01/23
-
FGIC
Insured
No
Opt.
Call
A+  
3,470,005
605
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017,
6.250%,
9/01/47,
144A
9/27
at
100.00
N/R  
639,993
Total
California
370,972,661
Colorado
-
10.6%
(6.4%
of
Total
Investments)
4,300
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021,
4.375%,
12/01/52
12/26
at
103.00
N/R  
3,256,089
850
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
5.000%,
12/01/39
9/24
at
103.00
N/R  
806,404
Base
Village
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016A:
883
5.500%,
12/01/36
5/23
at
102.00
N/R  
887,591
1,175
5.750%,
12/01/46
5/23
at
102.00
N/R  
1,178,208
700
Brighton
Crossing
Metropolitan
District
4,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Series
2017A,
5.000%,
12/01/47
5/23
at
103.00
N/R  
656,971
3,410
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017A,
6.125%,
12/01/47
5/23
at
103.00
N/R  
3,344,017
1,690
Canyons
Metropolitan
District
6,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017A,
6.125%,
12/01/47
5/23
at
103.00
N/R  
1,657,298
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017:
1,140
5.000%,
12/01/37,
144A
5/23
at
103.00
N/R  
1,083,923
5,465
5.000%,
12/01/47,
144A
5/23
at
103.00
N/R  
4,959,652
1,475
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2020A,
5.000%,
12/01/51
12/25
at
103.00
N/R  
1,281,686
195
Central
Platte
Valley
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2014,
5.000%,
12/01/43,
(Pre-
refunded
12/01/23)
12/23
at
100.00
BB+  (5)
196,640
1,200
Clear
Creek
Station
Metropolitan
District
2,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Refunding
&
Improvement
Series
2017A,
5.000%,
12/01/47
5/23
at
103.00
N/R  
1,124,724
930
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Flagstaff
Academy
Project,
Refunding
Series
2016,
3.625%,
8/01/46
8/26
at
100.00
A+  
775,918
1,165
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
The
Classical
Academy
Project,
Refunding
Series
2015A,
5.000%,
12/01/38
12/24
at
100.00
A+  
1,182,032
3,675
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Vanguard
School
Project,
Refunding
&
Improvement
Series
2016,
3.750%,
6/15/47
6/26
at
100.00
A+  
3,230,251
1,750
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Weld
County
School
District
6
-
Frontier
Academy,
Refunding
&
Improvement
Series
2016,
3.250%,
6/01/46
6/26
at
100.00
A+  
1,406,073
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
30
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
Colorado
Health
Facilities
Authority,
Colorado,
Health
Facilities
Revenue
Bonds,
The
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Refunding
Series
2017:
$
2,460
5.000%,
6/01/42,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R  (5)
$
2,690,207
23,470
5.000%,
6/01/47,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R  (5)
25,666,322
5,755
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2,
4.000%,
8/01/49
8/29
at
100.00
Baa1  
5,219,555
4,900
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2020A,
4.000%,
12/01/50
12/27
at
103.00
A-  
4,015,942
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013:
765
5.500%,
6/01/33,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R  (5)
766,331
1,575
5.625%,
6/01/43,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R  (5)
1,577,898
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013A:
1,410
5.000%,
6/01/32,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R  (5)
1,472,548
2,000
5.000%,
6/01/33,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R  (5)
2,088,720
5,870
5.000%,
6/01/40,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R  (5)
6,130,393
6,920
5.000%,
6/01/45,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R  (5)
7,226,971
2,035
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Frasier
Meadows
Project,
Refunding
&
Improvement
Series
2017A,
5.250%,
5/15/47
5/27
at
100.00
BBB-  
1,893,283
13,610
Colorado
Housing
and
Finance
Authority,
Multifamily
Project
Bonds,
Class
I
Series
2020B,
2.350%,
10/01/43
10/29
at
100.00
AAA  
9,877,049
4,105
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018,
5.875%,
12/01/46
12/23
at
103.00
N/R  
4,022,695
600
Copperleaf
Metropolitan
District
4,
Arapahoe
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A,
5.000%,
12/01/49
3/25
at
103.00
N/R  
548,178
1,480
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017A,
5.250%,
12/01/47
5/23
at
103.00
N/R  
1,416,730
1,262
Cornerstar
Metropolitan
District,
Arapahoe
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
Series
2017B,
5.250%,
12/01/47
5/23
at
103.00
N/R  
1,203,355
500
Crystal
Crossing
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016,
5.250%,
12/01/40
12/25
at
100.00
N/R  
493,620
10,640
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
11/15/43
11/23
at
100.00
A+  
10,684,475
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A:
2,190
5.250%,
12/01/39,
144A
12/23
at
103.00
N/R  
2,212,645
445
5.250%,
12/01/39,
144A
12/23
at
103.00
N/R  
449,049
11,700
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A,
0.000%,
9/01/41
No
Opt.
Call
A  
5,214,222
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
1997B:
35,995
0.000%,
9/01/23
-
NPFG
Insured
No
Opt.
Call
A  
35,587,176
6,525
0.000%,
9/01/26
-
NPFG
Insured
No
Opt.
Call
A  
5,874,001
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B:
17,030
0.000%,
9/01/25
-
NPFG
Insured
No
Opt.
Call
A  
15,807,417
31
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
10,005
0.000%,
9/01/32
-
NPFG
Insured
No
Opt.
Call
A  
$
7,262,129
43,090
0.000%,
9/01/33
-
NPFG
Insured
No
Opt.
Call
A  
29,976,851
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A:
20,000
0.000%,
9/01/27
-
NPFG
Insured
No
Opt.
Call
A  
17,453,800
1,180
0.000%,
9/01/28
-
NPFG
Insured
No
Opt.
Call
A  
996,498
7,000
0.000%,
9/01/34
-
NPFG
Insured
No
Opt.
Call
A  
4,647,230
5,575
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A,
6.750%,
12/01/34,
144A
9/27
at
103.00
N/R  
5,626,346
590
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014,
6.000%,
12/01/38
12/24
at
100.00
N/R  
554,730
500
Iron
Mountain
Metropolitan
District
2,
Windsor,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
5.000%,
12/01/39
12/24
at
103.00
N/R  
473,530
Lambertson
Farms
Metropolitan
District
1,
Colorado,
Revenue
Bonds,
Refunding
&
Improvement
Series
2015:
1,005
5.750%,
12/15/46
(4)
12/23
at
100.00
N/R  
659,983
5,355
6.000%,
12/15/50
(4)
12/23
at
100.00
N/R  
3,528,838
500
Littleton
Village
Metropolitan
District
No.
2,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2015,
5.375%,
12/01/45
5/23
at
101.00
N/R  
491,225
860
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016,
5.000%,
12/01/35
12/25
at
100.00
N/R  
841,097
5,155
North
Range
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Bonds,
Series
2016B,
3.500%,
12/01/45
12/25
at
100.00
A2  
4,459,178
North
Range
Metropolitan
District
2,
Adams
County,
Colorado
,
Limited
Tax
General
Obligation
Bonds,
Refunding
Special
Revenue
&
Improvement
Series
2017A:
1,000
5.625%,
12/01/37
5/23
at
103.00
N/R  
1,011,290
1,000
5.750%,
12/01/47
5/23
at
103.00
N/R  
1,007,430
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019:
3,380
5.000%,
12/01/39
12/24
at
103.00
N/R  
3,248,180
6,900
5.000%,
12/01/49
12/24
at
103.00
N/R  
6,251,262
Park
70
Metropolitan
District,
Aurora,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Refunding
&
Improvement
Series
2016:
660
5.000%,
12/01/36
12/26
at
100.00
Baa3  
677,807
1,060
5.000%,
12/01/46
12/26
at
100.00
Baa3  
1,071,819
660
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
12/01/45
12/25
at
100.00
A  
670,903
1,335
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/41,
144A
3/26
at
103.00
N/R  
1,229,722
4,000
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Convertible
Capital
Appreciation
Bonds,
Series
2022A-2,
8.000%,
12/01/52
12/27
at
81.40
N/R  
2,190,840
2,760
Prairie
Center
Metropolitan
District
No.
3,
In
the
City
of
Brighton,
Adams
County,
Colorado,
Limited
Property
Tax
Supported
Primary
Improvements
Revenue
Bonds,
Refunding
Series
2017A,
5.000%,
12/15/41,
144A
12/26
at
100.00
N/R  
2,722,657
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
32
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,500
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021,
4.000%,
12/01/41
10/26
at
102.00
N/R  
$
1,168,230
Reata
South
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2018:
1,310
5.375%,
12/01/37
12/23
at
103.00
N/R  
1,302,468
2,765
5.500%,
12/01/47
12/23
at
103.00
N/R  
2,677,073
5,050
Regional
Transportation
District,
Colorado,
Private
Activity
Bonds,
Denver
Transit
Partners
Eagle
P3
Project,
Series
2020A,
3.000%,
7/15/37
1/31
at
100.00
Baa1  
4,267,604
1,320
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A,
5.000%,
12/01/52
3/27
at
103.00
N/R  
1,140,229
930
SouthGlenn
Metropolitan
District,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2016,
5.000%,
12/01/46
5/23
at
102.00
N/R  
871,261
1,000
St.
Vrain
Lakes
Metropolitan
District
No.
2,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2017A,
5.000%,
12/01/37
5/23
at
103.00
N/R  
980,660
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
improvement
Series
2019A:
1,000
5.000%,
12/01/38
12/24
at
103.00
N/R  
935,560
570
5.000%,
12/01/49
12/24
at
103.00
N/R  
515,685
765
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Refunding
&
Improvement
Senior
Series
2020A,
4.250%,
12/01/50
12/25
at
102.00
N/R  
601,887
2,765
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020,
5.125%,
12/01/50
12/25
at
103.00
N/R  
2,474,703
450
The
Village
at
Dry
Creek
Metropolitan
District
No.
2,
In
the
City
of
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2019,
4.375%,
12/01/44
9/24
at
103.00
N/R  
377,955
500
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2,
5.500%,
12/01/51
3/26
at
103.00
N/R  
376,740
900
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/51
3/26
at
103.00
N/R  
724,644
3,410
Vauxmont
Metropolitan
District,
Arvada,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Convertible
to
Unlimited
Tax
Refunding
Subordinate
Series
2020,
5.000%,
12/01/50
-
AGM
Insured
12/29
at
100.00
AA  
3,590,423
8,260
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
6.750%,
12/01/52
12/29
at
103.00
N/R  
7,768,447
Total
Colorado
305,993,173
Connecticut
-
5.2%
(3.1%
of
Total
Investments)
Bridgeport,
Connecticut,
General
Obligation
Bonds,
Series
2014A:
2,345
5.000%,
7/01/32
-
AGM
Insured
7/24
at
100.00
A1  
2,398,396
1,600
5.000%,
7/01/34
-
AGM
Insured
7/24
at
100.00
A1  
1,634,816
2,800
Bridgeport,
Connecticut,
General
Obligation
Bonds,
Series
2016D,
5.000%,
8/15/41
-
AGM
Insured
8/26
at
100.00
A1  
2,922,248
Bridgeport,
Connecticut,
General
Obligation
Bonds,
Series
2017A:
1,470
5.000%,
11/01/36
11/27
at
100.00
A3  
1,578,780
750
5.000%,
11/01/37
11/27
at
100.00
A3  
801,982
33
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
(continued)
$
2,175
Connecticut
Health
and
Educational
Facilities
Authority
Revenue
Bonds,
Hartford
HealthCare,
Series
2015F,
5.000%,
7/01/45
7/25
at
100.00
A  
$
2,203,840
1,610
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Connecticut
College,
Refunding
Series
2016L-1,
4.000%,
7/01/46
7/26
at
100.00
A2  
1,494,048
5,580
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Connecticut
State
University
System,
Series
2013N,
5.000%,
11/01/31,
(Pre-refunded
11/01/23)
11/23
at
100.00
AA-  (5)
5,629,550
1,100
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Duncaster,
Inc.,
Series
2014A,
5.000%,
8/01/44
8/24
at
100.00
BBB  
1,067,682
5,570
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Fairfield
University,
Series
2016Q-1,
5.000%,
7/01/46
7/26
at
100.00
A  
5,704,237
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Healthcare
Facility
Expansion
Church
Home
of
Hartford
Inc.
Project,
Series
2016A:
590
5.000%,
9/01/46,
144A
9/26
at
100.00
BB  
496,208
2,540
5.000%,
9/01/53,
144A
9/26
at
100.00
BB  
2,052,015
3,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mary
Wade
Home
Issue,
Series
2019A-1,
5.000%,
10/01/54,
144A
10/24
at
104.00
BB  
2,337,870
1,915
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Middlesex
Hospital,
Series
2015O,
5.000%,
7/01/36
7/25
at
100.00
A3  
1,951,921
1,125
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Norwich
Free
Academy,
Series
2013B,
4.000%,
7/01/34,
(Pre-
refunded
7/01/23)
7/23
at
100.00
N/R  (5)
1,126,305
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A:
1,270
4.000%,
7/01/41
7/29
at
100.00
Baa2  
1,160,983
3,370
4.000%,
7/01/49
7/29
at
100.00
Baa2  
2,905,345
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Quinnipiac
University,
Refunding
Series
2015L:
6,665
4.125%,
7/01/41
7/25
at
100.00
A-  
6,512,172
7,030
5.000%,
7/01/45
7/25
at
100.00
A-  
7,162,515
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Quinnipiac
University,
Series
2016M:
500
5.000%,
7/01/34
7/26
at
100.00
A-  
526,720
1,250
5.000%,
7/01/36
7/26
at
100.00
A-  
1,304,200
6,145
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sacred
Heart
University,
Series
2017I-1,
5.000%,
7/01/42
7/27
at
100.00
A3  
6,373,041
4,025
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Series
2016K,
4.000%,
7/01/46
7/26
at
100.00
BBB+  
3,668,425
2,250
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
New
Haven,
Series
2018K-1,
5.000%,
7/01/38
7/28
at
100.00
BBB-  
2,232,517
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Yale-New
Haven
Health
Issue,
Series
2014E:
2,610
5.000%,
7/01/32
7/24
at
100.00
AA-  
2,666,115
2,740
5.000%,
7/01/33
7/24
at
100.00
AA-  
2,797,513
900
5.000%,
7/01/34
7/24
at
100.00
AA-  
918,234
3,500
Connecticut
State,
General
Obligation
Bonds,
Series
2014F,
5.000%,
11/15/34
11/24
at
100.00
AA-  
3,586,100
2,630
Connecticut
State,
General
Obligation
Bonds,
Series
2015F,
5.000%,
11/15/34
11/25
at
100.00
AA-  
2,749,455
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
34
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
(continued)
$
3,750
Connecticut
State,
General
Obligation
Bonds,
Series
2017A,
5.000%,
4/15/35
4/27
at
100.00
AA-  
$
4,036,050
Connecticut
State,
General
Obligation
Bonds,
Series
2018A:
3,500
5.000%,
4/15/35,
(UB)
(6)
4/28
at
100.00
AA-  
3,841,635
5,000
5.000%,
4/15/38,
(UB)
(6)
4/28
at
100.00
AA-  
5,396,400
3,855
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2013A,
5.000%,
10/01/33
10/23
at
100.00
Aa3  
3,883,797
1,380
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2015A,
5.000%,
8/01/33
8/25
at
100.00
Aa3  
1,441,962
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2016A:
5,300
5.000%,
9/01/33
9/26
at
100.00
Aa3  
5,667,502
1,075
5.000%,
9/01/34
9/26
at
100.00
Aa3  
1,146,907
3,500
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2014A,
5.000%,
9/01/33
9/24
at
100.00
Aa3  
3,594,010
Greater
New
Haven
Water
Pollution
Control
Authority,
Connecticut,
Regional
Wastewater
System
Revenue
Bonds,
Refunding
Series
2014B:
500
5.000%,
8/15/30,
(Pre-refunded
8/15/24)
8/24
at
100.00
A1  (5)
512,590
1,000
5.000%,
8/15/31,
(Pre-refunded
8/15/24)
8/24
at
100.00
A1  (5)
1,025,180
55
Greater
New
Haven
Water
Pollution
Control
Authority,
Connecticut,
Regional
Wastewater
System
Revenue
Bonds,
Series
2005A,
5.000%,
8/15/35
-
NPFG
Insured
5/23
at
100.00
A1  
55,027
225
Hamden,
Connecticut,
General
Obligation
Bonds,
Series
2016,
5.000%,
8/15/32
-
BAM
Insured
8/24
at
100.00
AA  
230,044
2,315
Harbor
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Harbor
Point
Project,
Refunding
Series
2017,
5.000%,
4/01/39,
144A
4/27
at
100.00
N/R  
2,315,278
10,015
Hartford
County
Metropolitan
District,
Connecticut,
Clean
Water
Project
Revenue
Bonds,
Refunding
Green
Bond
Series
2014A,
5.000%,
11/01/42,
(Pre-refunded
11/01/24)
11/24
at
100.00
AA  (5)
10,311,945
2,285
Hartford
County
Metropolitan
District,
Connecticut,
General
Obligation
Bonds,
Series
2018,
5.000%,
7/15/36
7/28
at
100.00
Aa3  
2,500,932
1,055
Milford,
Connecticut,
General
Obligation
Bonds,
Series
2018,
4.000%,
11/01/37
11/24
at
100.00
AA+  
1,065,423
1,550
New
Haven,
Connecticut,
General
Obligation
Bonds,
Refunding
Series
2016A,
5.000%,
8/15/35
-
AGM
Insured
8/26
at
100.00
BBB+  
1,641,264
985
New
Haven,
Connecticut,
General
Obligation
Bonds,
Series
2014A,
5.000%,
8/01/33,
(Pre-refunded
8/01/24)
-
AGM
Insured
8/24
at
100.00
BBB+  (5)
1,007,852
New
Haven,
Connecticut,
General
Obligation
Bonds,
Series
2015:
790
5.000%,
9/01/32
-
AGM
Insured
9/25
at
100.00
BBB+  
827,572
1,620
5.000%,
9/01/33
-
AGM
Insured
9/25
at
100.00
BBB+  
1,695,930
500
5.000%,
9/01/35
-
AGM
Insured
9/25
at
100.00
BBB+  
521,105
New
Haven,
Connecticut,
General
Obligation
Bonds,
Series
2017A:
1,045
5.000%,
8/01/35
8/27
at
100.00
BBB+  
1,104,450
1,425
5.000%,
8/01/36
8/27
at
100.00
BBB+  
1,497,803
900
North
Haven,
Connecticut,
General
Obligation
Bonds,
Series
2006,
5.000%,
7/15/24
No
Opt.
Call
Aa1  
921,510
795
South
Central
Connecticut
Regional
Water
Authority
Water
System
Revenue
Bonds,
Thirtieth
Series
2014A,
5.000%,
8/01/44,
(Pre-
refunded
8/01/24)
8/24
at
100.00
AA-  (5)
814,422
2,220
South
Central
Connecticut
Regional
Water
Authority,
Water
System
Revenue
Bonds,
Refunding
Thirty-Second
Series
2016B,
5.000%,
8/01/37
8/26
at
100.00
AA-  
2,343,632
35
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
(continued)
$
500
Stamford,
Connecticut,
Water
Pollution
Control
System
and
Facility
Revenue
Bonds,
Series
2013A,
5.250%,
8/15/43
8/23
at
100.00
Aa2  
$
501,655
1,285
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2021,
4.000%,
4/01/51
4/30
at
100.00
N/R  
972,758
1,500
Stratford,
Connecticut,
General
Obligation
Bonds,
Series
2017,
4.000%,
1/01/39
-
BAM
Insured
1/27
at
100.00
A2  
1,503,780
1,005
Town
of
Hamden,
Connecticut,
General
Obligation
Bonds,
Refunding
Series
2018A,
5.000%,
8/15/30
-
BAM
Insured
8/28
at
100.00
BBB  
1,100,777
2,500
University
of
Connecticut,
General
Obligation
Bonds,
Series
2013A,
5.000%,
8/15/32
8/23
at
100.00
A+  
2,507,800
760
University
of
Connecticut,
General
Obligation
Bonds,
Series
2014A,
5.000%,
2/15/31
2/24
at
100.00
A+  
769,599
2,250
University
of
Connecticut,
General
Obligation
Bonds,
Series
2015A,
5.000%,
3/15/31
3/26
at
100.00
A+  
2,378,970
Waterbury,
Connecticut,
General
Obligation
Bonds,
Lot
A
Series
2015:
445
5.000%,
8/01/30
-
BAM
Insured
8/25
at
100.00
AA-  
468,109
390
5.000%,
8/01/31
-
BAM
Insured
8/25
at
100.00
AA-  
410,210
610
5.000%,
8/01/32
-
BAM
Insured
8/25
at
100.00
AA-  
641,427
445
5.000%,
8/01/33
-
BAM
Insured
8/25
at
100.00
AA-  
467,659
445
5.000%,
8/01/34
-
BAM
Insured
8/25
at
100.00
AA-  
466,970
Total
Connecticut
149,553,169
Delaware
-
0.1%
(0.1%
of
Total
Investments)
Kent
County,
Delaware,
Student
Housing
&
Dining
Facility
Revenue
Bonds,
Collegiate
Housing
Foundation
-
Dover
LLC
Delaware
State
University
Project,
Series
2018A:
2,585
5.000%,
7/01/53
1/28
at
100.00
BB-  
2,356,693
1,000
5.000%,
7/01/58
1/28
at
100.00
BB-  
899,690
Total
Delaware
3,256,383
District
of
Columbia
-
3.7%
(2.2%
of
Total
Investments)
3,780
District
of
Columbia
Student
Dormitory
Revenue
Bonds,
Provident
Group
-
Howard
Properties
LLC
Issue,
Series
2013,
5.000%,
10/01/45
5/23
at
100.00
BB-  
3,627,288
1,100
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2001,
6.500%,
5/15/33
No
Opt.
Call
BBB  
1,123,870
186,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
5/23
at
24.22
N/R  
42,962,280
1,500
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
Ingleside
at
Rock
Creek
Project,
Series
2017A,
5.000%,
7/01/42
7/24
at
103.00
N/R  
1,330,395
3,000
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
First
Senior
Lien
Series
2019A,
5.000%,
10/01/44
10/28
at
100.00
A  
3,158,190
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
Second
Senior
Lien
Series
2022A:
3,390
4.000%,
10/01/52
-
AGM
Insured
10/31
at
100.00
A1  
3,265,553
17,595
2.750%,
10/01/53
-
AGM
Insured
10/31
at
100.00
A1  
12,336,734
20,135
3.000%,
10/01/53
-
AGM
Insured
10/31
at
100.00
A1  
14,531,027
11,000
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009C,
6.500%,
10/01/41,
(Pre-refunded
10/01/26)
-
AGC
Insured
10/26
at
100.00
A2  (5)
12,357,950
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
36
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
District
of
Columbia
(continued)
$
10,000
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
Capital
Appreciation,
Second
Senior
Lien
Series
2010B,
6.500%,
10/01/44
10/28
at
100.00
Baa1  
$
11,372,900
Total
District
of
Columbia
106,066,187
Florida
-
4.2%
(2.5%
of
Total
Investments)
990
Bexley
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016,
4.700%,
5/01/36
5/26
at
100.00
N/R  
964,864
1,000
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020,
5.000%,
12/15/50,
144A
7/26
at
100.00
N/R  
859,830
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2018:
1,290
6.100%,
8/15/38,
144A
8/28
at
100.00
N/R  
1,303,171
1,045
6.200%,
8/15/48,
144A
8/28
at
100.00
N/R  
1,049,065
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2021:
1,290
4.000%,
8/15/51,
144A
8/28
at
100.00
N/R  
949,040
1,250
4.250%,
8/15/61,
144A
8/28
at
100.00
N/R  
903,113
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Odyssey
Charter
School
Project,
Series
2017A:
1,065
5.375%,
7/01/37,
144A
7/27
at
100.00
Ba1  
1,074,191
1,470
5.500%,
7/01/47,
144A
7/27
at
100.00
Ba1  
1,462,091
3,788
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Provision
CARES
Proton
Therapy
Center,
Orlando
Project,
Series
2018,
7.500%,
6/01/48,
144A
2018
1
(4)
6/28
at
100.00
N/R  
492,444
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2017A:
6,050
5.125%,
6/15/37,
144A
6/27
at
100.00
N/R  
5,992,707
1,885
5.250%,
6/15/47,
144A
6/27
at
100.00
N/R  
1,790,976
880
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2017A,
5.000%,
10/15/37,
144A
10/27
at
100.00
Ba1  
851,822
735
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Viera
Charter
School
Project,
Series
2019A,
5.000%,
10/15/49,
144A
10/27
at
100.00
Ba1  
664,197
4,670
City
of
Miami
Beach,
Florida,
Stormwater
Revenue
Bonds,
Series
2015,
5.000%,
9/01/41
9/25
at
100.00
AA-  
4,771,386
785
Cityplace
Community
Development
District,
Florida,
Special
Assessment
and  Revenue
Bonds,
Refunding
Series
2012,
5.000%,
5/01/26
No
Opt.
Call
A  
805,198
1,480
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Hodges
University,
Refunding
Series
2013,
6.125%,
11/01/43,
(Pre-
refunded
11/01/23)
11/23
at
100.00
N/R  (5)
1,500,409
Creekside
at
Twin
Creeks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2016A-1:
240
5.250%,
11/01/37
11/28
at
100.00
N/R  
242,417
305
5.600%,
11/01/46
11/28
at
100.00
N/R  
307,458
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015:
280
5.250%,
5/01/35
5/26
at
100.00
N/R  
281,918
315
5.300%,
5/01/36
5/26
at
100.00
N/R  
317,599
475
5.500%,
5/01/45
5/26
at
100.00
N/R  
476,378
655
5.500%,
5/01/46
5/26
at
100.00
N/R  
656,277
37
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2017A:
$
255
6.000%,
6/15/37,
144A
6/26
at
100.00
N/R  
$
258,662
665
6.125%,
6/15/46,
144A
6/26
at
100.00
N/R  
668,963
415
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Classical
Preparatory
Incorporated
Project,
Series
2018A,
6.000%,
6/15/37,
144A
6/26
at
100.00
N/R  
420,959
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Upper
School
Project,
Series
2017C:
2,375
5.650%,
7/01/37,
144A
7/27
at
101.00
N/R  
2,391,673
3,735
5.750%,
7/01/47,
144A
7/27
at
101.00
N/R  
3,705,755
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A:
2,075
4.750%,
7/15/36,
144A
7/26
at
100.00
N/R  
1,973,118
1,335
5.000%,
7/15/46,
144A
7/26
at
100.00
N/R  
1,249,640
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Mater
Academy
Projects,
Series
2020A:
4,330
5.000%,
6/15/50
6/27
at
100.00
BBB  
4,269,943
3,405
5.000%,
6/15/55
6/27
at
100.00
BBB  
3,314,325
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A:
3,090
6.000%,
6/15/35,
144A
6/25
at
100.00
N/R  
3,121,487
3,450
6.125%,
6/15/46,
144A
6/25
at
100.00
N/R  
3,460,212
550
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2014A,
6.125%,
6/15/44,
144A
6/24
at
100.00
N/R  
556,556
4,380
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Southwest
Charter
Foundation
Inc
Projects,
Series
2017A,
6.125%,
6/15/47,
144A
6/27
at
100.00
N/R  
3,931,532
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation
Inc.
Projects,
Series
2016A:
1,485
6.250%,
6/15/36,
144A
6/26
at
100.00
N/R  
1,531,837
4,350
6.375%,
6/15/46,
144A
6/26
at
100.00
N/R  
4,446,135
5,490
Florida
Housing
Finance
Corporation,
Homeowner
Mortgage
Revenue
Bonds,
Social
Series
2021-1,
2.150%,
7/01/51
1/30
at
100.00
Aaa  
3,698,558
1,435
Grand
Bay
at
Doral
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
South
Parcel
Assessment
Area
Project,
Series
2016,
4.750%,
5/01/36
5/26
at
100.00
N/R  
1,405,367
2,215
Jacksonville,
Florida,
Educational
Facilities
Revenue
Bonds,
Jacksonville
University
Project,
Series
2018B,
5.000%,
6/01/53,
144A
6/28
at
100.00
N/R  
1,927,404
625
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Del
Webb
Project,
Series
2017,
5.000%,
5/01/37,
144A
5/27
at
100.00
N/R  
625,894
4,140
Martin
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Martin
Memorial
Medical
Center,
Series
2015,
5.000%,
11/15/45,
(Pre-refunded
11/15/24)
11/24
at
100.00
N/R  (5)
4,250,124
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017:
1,080
5.875%,
7/01/37,
144A
7/27
at
100.00
N/R  
1,048,108
1,920
6.000%,
7/01/47,
144A
7/27
at
100.00
N/R  
1,814,726
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
38
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
5,965
Miami
Dade
County,
Florida,
Rickenbacker
Causeway
Revenue
Bonds,
Series
2014,
5.000%,
10/01/43
10/24
at
100.00
BBB+  
$
6,020,653
2,130
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017,
5.125%,
7/01/46
7/27
at
100.00
BB+  
1,751,052
5,000
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2014A,
5.000%,
7/01/44
7/24
at
100.00
BBB+  
5,019,800
4,785
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2015,
5.350%,
8/01/35
8/26
at
100.00
N/R  
4,862,804
5,070
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2022,
4.000%,
10/01/52
4/32
at
100.00
A2  
4,707,850
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Series
2019A-1:
2,890
5.000%,
10/01/49
10/29
at
100.00
BBB-  
2,933,148
3,345
4.000%,
10/01/54
10/29
at
100.00
BBB-  
2,894,060
2,000
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Jupiter
Medical
Center,
Series
2022,
5.000%,
11/01/47
11/32
at
100.00
BBB-  
2,021,980
825
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2016,
5.000%,
11/01/46
11/26
at
100.00
N/R  
798,245
5,000
Sarasota
County
Public
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Sarasota
Memorial
Hospital
Project,
Series
2018,
4.000%,
7/01/48
7/28
at
100.00
A1  
4,684,900
220
Seminole
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Galileo
Schools
for
Gifted
Learning,
Series
2021A,
4.000%,
6/15/51,
144A
6/31
at
100.00
Ba1  
166,382
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2016:
170
4.750%,
11/01/28
11/27
at
100.00
N/R  
171,712
370
5.375%,
11/01/36
11/27
at
100.00
N/R  
374,484
905
South
Fork
III
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2016,
5.375%,
5/01/37
5/27
at
100.00
N/R  
915,978
185
Tampa,
Florida,
Healthcare
System
Revenue
Bonds,
Allegany
Health
System
-
St.
Joseph's
Hospital,
Series
1993,
5.125%,
12/01/23
-
NPFG
Insured,
(ETM)
5/23
at
100.00
N/R  (5)
190,056
5,015
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Stetson
University
Inc.
Project,
Series
2015,
5.000%,
6/01/40
6/25
at
100.00
A-  
5,124,026
Total
Florida
120,424,659
Georgia
-
3.5%
(2.2%
of
Total
Investments)
4,000
Brookhaven
Urban
Redevelopment
Agency,
Georgia,
Revenue
Bonds,
Series
2023A,
4.000%,
7/01/48
7/33
at
100.00
AAA  
4,000,800
17,085
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Georgia
Transmission
Corporation
Vogtle
Project,
Series
2012,
2.750%,
1/01/52
5/31
at
100.00
A1  
11,407,142
5,775
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Oglethorpe
Power
Corporation
Vogtle
Project,
Series
2017C,
4.125%,
11/01/45
2/28
at
100.00
BBB  
5,288,398
11,255
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Oglethorpe
Power
Corporation
Vogtle
Project,
Series
2017D,
4.125%,
11/01/45
2/28
at
100.00
BBB  
10,306,654
39
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
$
15,305
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2014A,
5.500%,
8/15/54,
(Pre-refunded
2/15/25)
2/25
at
100.00
AA  (5)
$
15,998,776
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2018A:
2,680
3.950%,
12/01/43
6/27
at
100.00
AAA  
2,644,865
4,085
4.000%,
12/01/48
6/27
at
100.00
AAA  
4,033,121
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2023A:
2,215
4.350%,
12/01/43,
(UB)
(6)
6/32
at
100.00
AAA  
2,231,524
3,000
4.550%,
12/01/48,
(UB)
(6)
6/32
at
100.00
AAA  
3,020,520
2,930
Georgia
Municipal
Electric
Authority,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
2019A,
5.000%,
1/01/56
7/28
at
100.00
BBB+  
2,977,700
1,300
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Revenue
Bonds,
Academy
for
Classical
Education,
Series
2017,
5.750%,
6/15/37,
144A
6/27
at
100.00
N/R  
1,319,383
10,000
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
4.000%,
8/01/52,
(Mandatory
Put
11/01/27),
144A
5/27
at
100.81
BBB-  
9,622,300
4,000
Marietta
Development
Authority,
Georgia,
University
Facilities
Revenue
Bonds,
Life
University,
Inc.
Project,
Refunding
Series
2017A,
5.000%,
11/01/47,
144A
11/27
at
100.00
Ba3  
3,598,680
10,000
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A,
5.000%,
7/01/60
7/25
at
100.00
BBB+  
10,031,700
5,630
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A,
5.000%,
1/01/49
7/28
at
100.00
BBB+  
5,746,428
10,090
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Mercer
University,
Series
2015,
5.000%,
10/01/40
10/25
at
100.00
A3  
10,263,750
Total
Georgia
102,491,741
Guam
-
0.5%
(0.3%
of
Total
Investments)
1,500
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D,
5.000%,
11/15/39
11/25
at
100.00
BB  
1,501,005
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Series
2017:
1,335
5.000%,
7/01/36
7/27
at
100.00
Baa2  
1,379,068
1,665
5.000%,
7/01/40
7/27
at
100.00
Baa2  
1,699,349
3,695
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2013,
5.500%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (5)
3,707,600
4,770
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2020A,
5.000%,
1/01/50
7/30
at
100.00
Baa2  
4,834,300
Total
Guam
13,121,322
Hawaii
-
0.3%
(0.2%
of
Total
Investments)
1,500
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Chaminade
University
of
Honolulu,
Series
2015A,
5.000%,
1/01/45,
144A
1/25
at
100.00
Ba3  
1,288,485
5,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
Health
Obligated
Group,
Series
2013A,
5.500%,
7/01/43
7/23
at
100.00
A1  
5,007,500
170
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University,
Series
2013A,
6.875%,
7/01/43,
144A
7/23
at
100.00
BB  
170,245
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
40
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Hawaii
(continued)
$
2,470
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Queens
Health
Systems,
Series
2015A,
4.000%,
7/01/40
7/25
at
100.00
AA-  
$
2,433,666
Total
Hawaii
8,899,896
Idaho
-
1.0%
(0.6%
of
Total
Investments)
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Kootenai
Health
Project,
Series
2014:
3,300
4.375%,
7/01/34
7/24
at
100.00
A  
3,333,693
12,495
4.750%,
7/01/44
7/24
at
100.00
A  
12,413,408
1,250
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016,
5.000%,
9/01/37
9/26
at
100.00
BB+  
1,258,075
1,750
Idaho
Housing
&
Finance
Association,
Idaho,
Sales
Tax
Revenue
Bonds,
Transportation
Expansion
&
Congestion
Mitigation
Fund,
Series
2023A,
4.000%,
8/15/48
8/33
at
100.00
Aa1  
1,720,617
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020A:
500
5.000%,
7/01/40,
144A
7/25
at
100.00
N/R  
420,775
1,415
5.250%,
7/01/55,
144A
7/25
at
100.00
N/R  
1,129,863
12,555
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2021,
3.750%,
9/01/51,
144A
12/26
at
103.00
N/R  
9,278,271
Total
Idaho
29,554,702
Illinois
-
25.0%
(15.2%
of
Total
Investments)
675
Bolingbrook,
Will
and
DuPage
Counties,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2013A,
5.000%,
1/01/25,
(Pre-refunded
7/01/23)
7/23
at
100.00
A2  (5)
676,870
67,135
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
6.000%,
4/01/46
4/27
at
100.00
A  
70,304,019
1,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2017,
5.000%,
4/01/46
4/27
at
100.00
A  
1,008,490
1,110
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023,
5.750%,
4/01/48
4/33
at
100.00
A  
1,224,608
5,245
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues
Series
2012A,
5.000%,
12/01/42
5/23
at
100.00
Ba2  
5,225,279
8,400
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B,
7.000%,
12/01/42,
144A
12/27
at
100.00
BB+  
9,146,592
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017H:
5,835
5.000%,
12/01/36
12/27
at
100.00
BB+  
5,925,326
4,940
5.000%,
12/01/46
12/27
at
100.00
BB+  
4,899,195
6,055
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018D,
5.000%,
12/01/46
12/28
at
100.00
BB+  
6,004,986
38,905
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A,
7.000%,
12/01/44
12/25
at
100.00
BB+  
41,022,988
14,805
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
BB+  
15,561,387
19,585
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A,
7.000%,
12/01/46,
144A
12/27
at
100.00
BB+  
21,241,303
1,410
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1,
0.000%,
12/01/30
-
NPFG
Insured
No
Opt.
Call
BB+  
1,044,725
41
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A:
$
1,405
4.000%,
12/01/50
12/29
at
100.00
A+  
$
1,306,116
2,000
5.000%,
12/01/55
12/29
at
100.00
A+  
2,072,420
12,215
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Series
2014,
5.250%,
12/01/49
12/24
at
100.00
AA  
12,396,515
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2022B:
2,565
4.500%,
1/01/56
1/31
at
100.00
A+  
2,578,005
5,000
5.250%,
1/01/56
1/31
at
100.00
A+  
5,360,850
1,355
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A,
5.500%,
1/01/39
1/32
at
100.00
Baa3  
1,478,305
32,670
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999,
0.000%,
1/01/32
-
FGIC
Insured
No
Opt.
Call
Baa2  
22,841,557
2,500
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2014A,
5.250%,
1/01/33
1/24
at
100.00
Baa3  
2,513,775
17,605
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
6.000%,
1/01/38
1/27
at
100.00
BBB  
18,749,501
2,605
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
5.000%,
1/01/38
1/26
at
100.00
BBB  
2,636,026
3,000
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Series
2008C,
5.000%,
1/01/39
1/25
at
100.00
A  
3,020,700
10,000
Cook
County
Community
College
District
508,
Illinois,
General
Obligation
Bonds,
Chicago
City
Colleges,
Series
2013,
5.250%,
12/01/43
12/23
at
100.00
BBB  
10,015,700
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT:
2,500
4.450%,
11/01/36
11/25
at
102.00
A2  
2,580,150
3,400
5.500%,
11/01/36
11/23
at
100.00
A  
3,439,678
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A:
1,700
5.750%,
12/01/35,
144A
12/25
at
100.00
N/R  
1,744,489
115
6.000%,
12/01/45,
144A
12/25
at
100.00
N/R  
118,053
Illinois
Finance
Authority,
Health
Services
Facility
Lease
Revenue
Bonds,
Provident
Group
-
UIC
Surgery
Center,
LLC
-
University
of
Illinois
Health
Services
Facility
Project,
Series
2020:
3,835
4.000%,
10/01/50
10/30
at
100.00
BBB+  
3,201,496
5,190
4.000%,
10/01/55
10/30
at
100.00
BBB+  
4,237,583
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C:
37,655
4.000%,
2/15/41
2/27
at
100.00
Aa2  
37,237,406
80
4.000%,
2/15/41,
(Pre-refunded
2/15/27)
2/27
at
100.00
N/R  (5)
83,548
1,755
4.000%,
2/15/41,
(Pre-refunded
2/15/27)
2/27
at
100.00
N/R  (5)
1,832,834
Illinois
Finance
Authority,
Revenue
Bonds,
Centegra
Health
System,
Series
2014A:
1,485
5.000%,
9/01/34,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R  (5)
1,522,199
19,025
5.000%,
9/01/42,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R  (5)
19,501,577
500
Illinois
Finance
Authority,
Revenue
Bonds,
DePaul
College
Prep
Foundation,
Series
2023A,
5.625%,
8/01/53,
144A
8/33
at
100.00
BB+  
496,710
4,000
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A,
5.000%,
11/01/49
11/26
at
103.00
N/R  
3,174,520
10,000
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-
Elmhurst
Health
Credit
Group,
Series
2022A,
5.000%,
8/15/47,
(UB)
(6)
8/32
at
100.00
AA-  
10,661,400
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
42
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
12,000
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A,
5.000%,
11/15/45
11/25
at
100.00
A  
$
12,122,520
1,435
Illinois
Finance
Authority,
Revenue
Bonds,
Rehabilitation
Institute
of
Chicago,
Series
2013A,
6.000%,
7/01/43
7/23
at
100.00
A  
1,441,113
Illinois
Finance
Authority,
Revenue
Bonds,
Rosalind
Franklin
University
Research
Building
Project,
Series
2017C:
1,000
5.000%,
8/01/42
8/27
at
100.00
BBB+  
1,005,170
1,000
5.000%,
8/01/46
8/27
at
100.00
BBB+  
1,000,030
1,000
5.000%,
8/01/47
8/27
at
100.00
BBB+  
1,000,520
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C:
560
5.000%,
8/15/35
8/25
at
100.00
A3  
573,933
6,140
5.000%,
8/15/44
8/25
at
100.00
A3  
6,151,482
10,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
5.000%,
8/15/52,
(UB)
(6)
8/32
at
100.00
AA-  
10,619,500
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Refunding
Series
2015A:
17,765
5.000%,
10/01/46,
(Pre-refunded
10/01/25),
(UB)
10/25
at
100.00
N/R  (5)
18,670,660
2,235
5.000%,
10/01/46,
(UB)
10/25
at
100.00
AA-  
2,310,319
5,670
Illinois
Housing
Development
Authority,
Multifamily
Housing
Revenue
Bonds,
Series
2021C,
2.850%,
7/01/56
7/30
at
100.00
Aaa  
3,923,073
3,665
Illinois
Sports
Facility
Authority,
State
Tax
Supported
Bonds,
Refunding
Series
2014,
5.250%,
6/15/31
-
AGM
Insured
6/24
at
100.00
BB+  
3,726,425
Illinois
State,
General
Obligation
Bonds,
December
Series
2017A:
11,800
5.000%,
12/01/38
12/27
at
100.00
Baa1  
12,259,374
1,330
5.000%,
12/01/39
12/27
at
100.00
Baa1  
1,378,479
Illinois
State,
General
Obligation
Bonds,
February
Series
2014:
3,275
5.000%,
2/01/24
No
Opt.
Call
BBB+  
3,308,470
1,575
5.250%,
2/01/34
2/24
at
100.00
Baa1  
1,592,609
7,500
5.000%,
2/01/39
2/24
at
100.00
Baa1  
7,533,750
5,200
Illinois
State,
General
Obligation
Bonds,
January
Series
2016,
5.000%,
1/01/29
1/26
at
100.00
Baa1  
5,411,172
Illinois
State,
General
Obligation
Bonds,
May
Series
2014:
510
5.000%,
5/01/36
5/24
at
100.00
BBB+  
514,697
1,915
5.000%,
5/01/39
5/24
at
100.00
Baa1  
1,926,299
4,460
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.500%,
5/01/39
5/30
at
100.00
Baa1  
4,885,127
1,495
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B,
4.500%,
5/01/48
(WI/DD,
Settling
5/10/23)
5/32
at
100.00
BBB+  
1,485,312
13,200
Illinois
State,
General
Obligation
Bonds,
November
Series
2016,
5.000%,
11/01/41
11/26
at
100.00
Baa1  
13,447,500
31,460
Illinois
State,
General
Obligation
Bonds,
November
Series
2017C,
5.000%,
11/01/29
11/27
at
100.00
BBB+  
33,686,424
2,040
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D,
5.000%,
11/01/27
No
Opt.
Call
BBB+  
2,187,839
5,000
Illinois
State,
General
Obligation
Bonds,
November
Series
2019B,
4.000%,
11/01/35
11/29
at
100.00
Baa1  
5,032,700
5,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2016,
5.000%,
2/01/29
2/27
at
100.00
Baa1  
5,302,300
Illinois
State,
General
Obligation
Bonds,
Series
2013:
2,000
5.250%,
7/01/31
7/23
at
100.00
Baa1  
2,007,140
4,140
5.500%,
7/01/38
7/23
at
100.00
BBB+  
4,156,684
43
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2013A:
$
5,000
5.000%,
1/01/35
5/23
at
100.00
AA-  
$
5,005,700
5,590
5.000%,
1/01/38
5/23
at
100.00
AA-  
5,594,752
18,920
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A,
5.000%,
1/01/40
7/25
at
100.00
AA-  
19,382,405
20,470
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2019A,
5.000%,
1/01/44
7/29
at
100.00
AA-  
21,983,142
4,250
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A,
5.000%,
1/01/44
(WI/DD,
Settling
5/18/23)
7/33
at
100.00
Aa3  
4,679,080
540
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2015B,
5.000%,
6/15/52
12/25
at
100.00
BBB  
542,203
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A:
8,380
4.000%,
6/15/50
12/29
at
100.00
BBB  
7,288,589
7,290
5.000%,
6/15/50
12/29
at
100.00
BBB  
7,371,429
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A:
2,910
4.000%,
12/15/42
12/31
at
100.00
BBB  
2,670,332
9,945
4.000%,
12/15/47
12/31
at
100.00
BBB  
8,789,093
4,500
4.000%,
6/15/52
12/31
at
100.00
BBB  
3,872,520
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A:
2,890
0.000%,
12/15/52
No
Opt.
Call
BBB  
639,615
5,185
5.000%,
6/15/53
12/25
at
100.00
BBB  
5,205,221
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1:
25,000
0.000%,
6/15/44
-
AGM
Insured
No
Opt.
Call
BBB  
9,432,250
43,200
0.000%,
6/15/45
-
AGM
Insured
No
Opt.
Call
BBB  
15,433,200
10,000
0.000%,
6/15/46
-
AGM
Insured
No
Opt.
Call
BBB  
3,387,800
8,750
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
1994B,
0.000%,
6/15/28
-
NPFG
Insured
No
Opt.
Call
Baa2  
7,304,325
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A:
18,085
0.000%,
12/15/24
-
NPFG
Insured
No
Opt.
Call
Baa2  
17,017,081
20,045
0.000%,
12/15/35
-
AGM
Insured
No
Opt.
Call
BBB  
12,085,130
9,010
0.000%,
6/15/37
-
NPFG
Insured
No
Opt.
Call
Baa2  
4,879,906
465
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019,
5.000%,
1/01/39
1/26
at
100.00
N/R  
426,568
1,842
Plano,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
1
&
2
Lakewood
Springs
Project,
Refunding
Series
2014,
5.000%,
3/01/34
-
AGM
Insured
3/24
at
100.00
AA  
1,855,944
2,615
Regional
Transportation
Authority,
Cook,
DuPage,
Kane,
Lake,
McHenry
and
Will
Counties,
Illinois,
General
Obligation
Bonds,
Series
2000A,
6.500%,
7/01/30
-
NPFG
Insured
No
Opt.
Call
Aa3  
3,134,888
7,025
Southwestern
Illinois
Development
Authority,
Health
Facility
Revenue
Bonds,
Memorial
Group,
Inc.,
Series
2013,
7.625%,
11/01/48,
(Pre-
refunded
11/01/23)
11/23
at
100.00
N/R  (5)
7,165,360
4,000
Southwestern
Illinois
Development
Authority,
School
Revenue
Bonds,
Triad
School
District
2,
Madison
County,
Illinois,
Series
2006,
0.000%,
10/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2  
3,663,840
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
44
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
12,125
Springfield,
Illinois,
Electric
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015,
5.000%,
3/01/40
-
AGM
Insured
3/25
at
100.00
A1  
$
12,428,853
6,415
Will
County
School
District
122,
New
Lenox,
Illinois,
General
Obligation
Bonds,
Capital
Appreciation
School
Series
2004D,
0.000%,
11/01/24
-
AGM
Insured
No
Opt.
Call
Aa3  
6,077,635
Total
Illinois
724,064,363
Indiana
-
2.0%
(1.2%
of
Total
Investments)
2,650
Crown
Point
Multi-School
Building
Corporation,
Indiana,
First
Mortgage
Bonds,
Crown
Point
Community
School
Corporation,
Series
2000,
0.000%,
1/15/24
-
NPFG
Insured
No
Opt.
Call
Baa2  
2,585,048
12,045
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Valparaiso
University
Project,
Series
2014,
5.000%,
10/01/44
10/24
at
100.00
Baa2  
12,096,794
17,970
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2014A,
5.000%,
10/01/44
10/24
at
100.00
A+  
18,259,676
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Series
1999E:
10,000
0.000%,
2/01/26
-
AMBAC
Insured
No
Opt.
Call
AA-  
9,174,600
20,000
0.000%,
2/01/28
-
AMBAC
Insured
No
Opt.
Call
AA-  
17,285,600
Total
Indiana
59,401,718
Iowa
-
1.2%
(0.7%
of
Total
Investments)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022:
10,860
5.000%,
12/01/50,
(Mandatory
Put
12/01/42)
12/29
at
103.00
BBB-  
10,908,762
10,045
5.000%,
12/01/50
12/29
at
103.00
BBB-  
9,985,031
5,700
Iowa
Finance
Authority,
Senior
Housing
Revenue
Bonds,
PHS
Council
Bluffs,
Inc.
Project,
Series
2018,
5.250%,
8/01/55
8/23
at
102.00
N/R  
4,285,089
36,850
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Class
2
Capital
Appreciation
Senior
Lien
Series
2021B-2,
0.000%,
6/01/65
6/31
at
25.58
N/R  
4,301,132
4,315
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Lien
Series
Class
2
Series
2021B-1,
4.000%,
6/01/49
6/31
at
100.00
BBB+  
4,272,756
Total
Iowa
33,752,770
Kansas
-
0.4%
(0.2%
of
Total
Investments)
1,000
Lenexa,
Kansas,
Health
Care
Facilities
Revenue
Bonds,
Lakeview
Village
Inc,
Series
2017A,
5.000%,
5/15/43
5/27
at
100.00
BB+  
923,730
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015:
3,180
5.000%,
9/01/27
9/25
at
100.00
N/R  
3,044,850
2,380
5.750%,
9/01/32
9/25
at
100.00
N/R  
2,235,724
2,575
6.000%,
9/01/35
9/25
at
100.00
N/R  
2,418,878
2,500
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Village
East
Project
Areas
2B
3
and
5,
Series
2022,
5.750%,
9/01/39,
144A
3/29
at
103.00
N/R  
2,422,650
Total
Kansas
11,045,832
Kentucky
-
2.1%
(1.3%
of
Total
Investments)
5,800
Christian
County,
Kentucky,
Hospital
Revenue
Bonds,
Jennie
Stuart
Medical
Center,
Series
2016,
5.500%,
2/01/44
2/26
at
100.00
BBB-  
5,922,438
10,140
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A,
5.000%,
6/01/37
6/27
at
100.00
BBB-  
10,278,614
45
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Kentucky
(continued)
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A:
$
4,345
5.000%,
7/01/37
7/25
at
100.00
Baa2  
$
4,369,506
17,515
5.000%,
1/01/45
7/25
at
100.00
Baa2  
17,335,821
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C:
4,360
0.000%,
7/01/43
(8)
7/31
at
100.00
Baa2  
4,943,673
8,510
0.000%,
7/01/46
(8)
7/31
at
100.00
Baa2  
9,665,998
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
First
Tier
Series
2013A:
2,390
5.750%,
7/01/49,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (5)
2,397,313
480
6.000%,
7/01/53,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (5)
481,647
5,000
Louisville
and
Jefferson
County
Metropolitan
Government,
Kentucky,
Hospital
Revenue
Bonds,
UofL
Health
Project,
Series
2022A,
5.000%,
5/15/52
5/32
at
100.00
BBB+  
5,073,600
Total
Kentucky
60,468,610
Louisiana
-
1.4%
(0.8%
of
Total
Investments)
2,525
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.000%,
7/01/36
7/23
at
100.00
N/R  
2,527,929
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Franciscan
Missionaries
of
Our
Lady
Health
System,
Series
1998A:
5,290
5.750%,
7/01/25,
(UB)
No
Opt.
Call
A2  
5,438,067
135
5.750%,
7/01/25,
(ETM),
(UB)
No
Opt.
Call
A2  (5)
143,368
12,840
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2020A,
4.000%,
5/15/49
5/30
at
100.00
A3  
12,134,571
8,970
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Loyola
University
Project,
Refunding
Series
2017,
5.250%,
10/01/46
10/33
at
100.00
BBB  
8,917,884
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2015:
1,065
4.250%,
5/15/40
5/25
at
100.00
A3  
1,068,067
5,000
5.000%,
5/15/47
5/25
at
100.00
A3  
5,068,950
1,000
New
Orleans,
Louisiana,
Sewerage
Service
Revenue
Bonds,
Refunding
Series
2014,
4.250%,
6/01/34,
(Pre-refunded
6/01/24)
6/24
at
100.00
A  (5)
1,011,720
3,275
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010A,
6.350%,
10/01/40,
144A
6/30
at
100.00
BB-  
3,541,814
Total
Louisiana
39,852,370
Maine
-
1.8%
(1.1%
of
Total
Investments)
7,530
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2013,
5.000%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
Ba1  (5)
7,549,578
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A:
5,450
4.000%,
7/01/41
7/26
at
100.00
Ba1  
4,906,581
10,265
4.000%,
7/01/46
7/26
at
100.00
Ba1  
8,763,538
10,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Mainehealth
Issue,
Series
2015,
5.000%,
7/01/39,
(Pre-
refunded
7/01/24)
2022
2022
7/24
at
100.00
A+  (5)
10,208,100
1,105
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MaineHealth
Issue,
Series
2020A,
4.000%,
7/01/45
7/30
at
100.00
A+  
1,056,667
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
46
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maine
(continued)
$
4,500
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2021A,
2.200%,
11/15/51
5/30
at
100.00
AA+  
$
2,661,165
8,885
Maine
State
Housing
Authority,
Multifamily
Mortgage
Purchase
Bonds,
Series
2022A,
2.600%,
11/15/46
11/30
at
100.00
AA+  
6,308,706
7,695
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Series
2020D,
2.800%,
11/15/45
5/29
at
100.00
AA+  
5,766,094
915
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2021C,
2.300%,
11/15/46
11/30
at
100.00
AA+  
616,692
3,000
Maine
State
Housing
Authority,
Single
Family
Mortgage
Purchase
Bonds,
Social
Series
2023A,
4.600%,
11/15/48
5/32
at
100.00
AA+  
2,996,790
Total
Maine
50,833,911
Maryland
-
2.0%
(1.2%
of
Total
Investments)
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017:
1,280
5.000%,
9/01/33
9/27
at
100.00
CCC+  
1,302,656
3,050
5.000%,
9/01/39
9/27
at
100.00
CCC+  
3,016,114
3,025
5.000%,
9/01/46
9/27
at
100.00
CCC+  
2,851,184
1,000
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A,
4.375%,
2/15/39,
144A
2/26
at
100.00
N/R  
943,820
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021C:
6,600
2.450%,
9/01/41
9/30
at
100.00
Aa1  
4,972,638
12,000
2.550%,
9/01/44
9/30
at
100.00
Aa1  
8,840,520
7,975
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
HealthCare
Issue,
Series
2021B,
4.000%,
1/01/51
1/32
at
100.00
Baa3  
6,815,754
13,315
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
Healthcare,
Series
2016A,
5.500%,
1/01/46
1/27
at
100.00
Baa3  
13,491,290
5,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015,
5.000%,
7/01/47
7/25
at
100.00
A+  
5,054,350
1,500
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Peninsula
Regional
Medical
Center
Issue,
Refunding
Series
2015,
5.000%,
7/01/45,
(Pre-refunded
7/01/24)
7/24
at
100.00
Baa1  (5)
1,529,490
Prince
George's
County
Revenue
Authority,
Maryland,
Special
Obligation
Bonds,
Suitland-Naylor
Road
Project,
Series
2016:
2,000
4.750%,
7/01/36,
144A
1/26
at
100.00
N/R  
2,009,300
2,300
5.000%,
7/01/46,
144A
1/26
at
100.00
N/R  
2,310,557
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B:
1,335
4.250%,
11/01/37
11/24
at
103.00
B  
1,077,332
1,250
4.500%,
11/01/43
11/24
at
103.00
B  
999,125
2,650
5.000%,
11/01/47
11/24
at
103.00
B  
2,231,512
Total
Maryland
57,445,642
Massachusetts
-
2.9%
(1.8%
of
Total
Investments)
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2014A:
2,245
5.250%,
7/01/34
7/24
at
100.00
B-  
2,067,982
6,195
5.500%,
7/01/44
7/24
at
100.00
B-  
5,429,484
Massachusetts
Development
Finance
Agency
Revenue
Refunding
Bonds,
NewBridge
on
the
Charles,
Inc.
Issue,
Series
2017:
8,200
4.125%,
10/01/42,
144A
5/23
at
105.00
BB+  
7,067,006
3,000
5.000%,
10/01/57,
144A
5/23
at
105.00
BB+  
2,692,950
47
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Massachusetts
(continued)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emerson
College,
Series
2015:
$
2,980
4.500%,
1/01/45
1/25
at
100.00
Baa2  
$
2,830,195
2,085
5.000%,
1/01/45
1/25
at
100.00
Baa2  
2,092,173
4,035
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emmanuel
College,
Series
2016A,
4.000%,
10/01/46
10/26
at
100.00
Baa2  
3,463,321
16,280
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Massachusetts
Institute
of
Technology,
Series
2020P,
5.000%,
7/01/50,
(UB)
(6)
No
Opt.
Call
AAA  
19,067,462
900
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Milford
Regional
Medical
Center
Issue,
Series
2020G,
5.000%,
7/15/46,
144A
7/30
at
100.00
B+  
787,257
6,000
Massachusetts
Development
Finance
Authority,
Revenue
Bonds,
WGBH
Educational
Foundation,
Series
2002A,
5.750%,
1/01/42
-
AMBAC
Insured
No
Opt.
Call
AA-  
7,574,160
7,405
Massachusetts
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Massachusetts
Institute
of
Technology,
Series
2002K,
5.500%,
7/01/32,
(UB)
(6)
No
Opt.
Call
AAA  
9,387,244
2,785
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Series
2014D,
3.875%,
12/01/39
6/24
at
100.00
AA-  
2,706,658
Massachusetts
Housing
Finance
Agency,
Housing
Bonds,
Sustainability
Green
Series
2021A-1:
3,340
2.375%,
12/01/46
6/30
at
100.00
Aa2  
2,237,633
3,600
2.450%,
12/01/51
6/30
at
100.00
Aa2  
2,266,020
8,310
2.550%,
12/01/56
6/30
at
100.00
Aa2  
5,088,961
4,500
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2020-220,
2.300%,
12/01/44
6/30
at
100.00
AA+  
3,197,340
3,500
Massachusetts
Housing
Finance
Agency,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2023-227,
4.900%,
12/01/48
6/32
at
100.00
AA+  
3,588,305
3,345
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Loan,
Series
2021B,
2.000%,
4/01/50
4/31
at
100.00
AA+  
2,010,713
425
Massachusetts
Water
Pollution
Abatement
Trust,
Revenue
Bonds,
MWRA
Loan
Program,
Subordinate
Series
1999A,
5.750%,
8/01/29
5/23
at
100.00
AAA  
425,943
Total
Massachusetts
83,980,807
Michigan
-
2.0%
(1.2%
of
Total
Investments)
5,060
Detroit
City
School
District,
Wayne
County,
Michigan,
Unlimited
Tax
School
Building
and
Site
Improvement
Bonds,
Series
2001A,
6.000%,
5/01/29
-
AGM
Insured,
(UB)
No
Opt.
Call
AA  
5,629,048
3,665
Detroit
Downtown
Development
Authority,
Michigan,
Tax
Increment
Revenue
Bonds,
Catalyst
Development
Project,
Series
2018A,
5.000%,
7/01/48
-
AGM
Insured
7/24
at
100.00
AA  
3,650,670
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Sparrow
Obligated
Group,
Refunding
Series
2015:
4,495
4.000%,
11/15/35,
(Pre-refunded
5/15/25)
5/25
at
100.00
A-  (5)
4,596,362
2,410
4.000%,
11/15/36,
(Pre-refunded
5/15/25)
5/25
at
100.00
A-  (5)
2,464,346
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2016MI:
5,470
5.000%,
12/01/45
6/26
at
100.00
AA-  
5,587,386
145
5.000%,
12/01/45,
(Pre-refunded
6/01/26)
6/26
at
100.00
N/R  (5)
154,822
2,705
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts
Senior
Current
Interest
Series
2020A-2,
5.000%,
6/01/40
12/30
at
100.00
BBB+  
2,822,992
1,000
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Series
2020A-CL-1,
4.000%,
6/01/49
12/30
at
100.00
BBB+  
898,140
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
48
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
Michigan
Housing
Development
Authority,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021A:
$
21,675
2.350%,
12/01/46
12/30
at
100.00
Aa2  
$
14,927,789
8,280
2.500%,
6/01/52
12/30
at
100.00
Aa2  
5,480,035
10,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2020-I,
2.625%,
10/15/56
10/31
at
100.00
Aa2  
6,509,400
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2015D:
3,550
5.000%,
12/01/40
12/25
at
100.00
A  
3,655,399
2,730
5.000%,
12/01/45
12/25
at
100.00
A  
2,795,657
Total
Michigan
59,172,046
Minnesota
-
2.1%
(1.3%
of
Total
Investments)
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A:
155
4.000%,
8/01/36
8/26
at
100.00
BB+  
132,156
440
4.000%,
8/01/41
8/26
at
100.00
BB+  
356,378
1,875
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prairie
Seeds
Academy
Project,
Refunding
Series
2015A,
5.000%,
3/01/34
3/25
at
100.00
BB-  
1,780,031
1,720
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2015A,
5.500%,
7/01/50
7/25
at
100.00
BB+  
1,722,270
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A:
8,520
4.250%,
2/15/43
2/28
at
100.00
A-  
8,497,251
25,830
4.250%,
2/15/48
2/28
at
100.00
A-  
25,068,532
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Series
2022A:
340
5.250%,
6/01/42
6/32
at
100.00
N/R  
325,754
215
5.500%,
6/01/57
6/32
at
100.00
N/R  
205,759
1,400
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A,
5.500%,
7/01/52
7/32
at
100.00
N/R  
1,294,972
2,020
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2022A,
4.250%,
1/01/52
1/32
at
100.00
A+  
1,978,226
2,225
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020E,
2.700%,
7/01/44
7/29
at
100.00
AA+  
1,787,276
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2020I:
2,255
2.150%,
7/01/45
1/30
at
100.00
AA+  
1,611,987
3,625
2.200%,
1/01/51
1/30
at
100.00
AA+  
2,595,319
5,585
Minnesota
Housing
Finance
Agency,
Residential
Housing
Finance
Bonds,
Series
2021H,
2.550%,
1/01/46
1/31
at
100.00
AA+  
4,540,102
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Stride
Academy
Project,
Series
2016A:
405
5.000%,
4/01/36
4/26
at
100.00
N/R  
336,547
605
5.000%,
4/01/46
4/26
at
100.00
N/R  
448,523
1,340
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Facility
Revenue
Bonds,
HealthPartners
Obligated
Group,
Refunding
Series
2015A,
4.000%,
7/01/35
7/25
at
100.00
A  
1,349,300
90
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Multifamily
Housing
Revenue
Bonds,
2700
University
at
Westgate
Station,
Series
2015B,
4.250%,
4/01/25
5/23
at
100.00
N/R  
88,924
49
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Minnesota
(continued)
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A:
$
2,785
5.000%,
11/15/40,
(Pre-refunded
11/15/25)
11/25
at
100.00
N/R  (5)
$
2,932,020
3,190
5.000%,
11/15/44,
(Pre-refunded
11/15/25)
11/25
at
100.00
N/R  (5)
3,358,400
Total
Minnesota
60,409,727
Mississippi
-
0.2%
(0.1%
of
Total
Investments)
3,720
Mississippi
Development
Bank,
Special
Obligation
Bonds,
Gulfport
Water
and
Sewer
System
Project,
Series
2005,
5.250%,
7/01/24
-
AGM
Insured,
(ETM)
No
Opt.
Call
A1  (5)
3,771,448
1,000
Mississippi
Home
Corporation,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A,
2.125%,
12/01/44
6/30
at
100.00
Aaa  
670,040
Total
Mississippi
4,441,488
Missouri
-
2.3%
(1.4%
of
Total
Investments)
1,650
Chesterfield
Valley
Transportation
Development
District,
Missouri,
Transportation
Sales
Tax
Revenue
Bonds,
Series
2015,
3.625%,
5/15/31
5/23
at
100.00
A-  
1,650,215
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016:
400
5.000%,
4/01/36,
144A
4/26
at
100.00
N/R  
372,548
1,520
5.000%,
4/01/46,
144A
4/26
at
100.00
N/R  
1,330,228
15,000
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1,
0.000%,
4/15/28
-
AMBAC
Insured
No
Opt.
Call
A2  
13,025,850
4,345
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A,
5.250%,
5/15/50
5/27
at
100.00
BB-  
3,539,741
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Series
2015A:
1,575
5.750%,
6/01/35,
144A
6/25
at
100.00
N/R  
1,459,678
1,055
6.000%,
6/01/46,
144A
6/25
at
100.00
N/R  
967,625
7,030
Missouri
Health
and
Education
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Saint
Luke's
Health
System,
Inc.,
Series
2018A,
4.000%,
11/15/48
5/28
at
100.00
A+  
6,645,389
Missouri
Health
and
Educational
Facilities
Authority,
Educational
Facilities
Revenue
Bonds,
Saint
Louis
College
of
Pharmacy,
Series
2015B:
1,410
5.000%,
5/01/40
11/23
at
100.00
BBB-  
1,421,816
2,000
5.000%,
5/01/45
11/23
at
100.00
BBB-  
2,016,760
7,040
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A,
5.000%,
11/15/48
11/23
at
100.00
A2  
6,893,638
5,500
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020,
4.000%,
6/01/53
6/30
at
100.00
A+  
5,125,780
3,990
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A,
4.000%,
2/15/44
2/29
at
100.00
A1  
3,864,275
405
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
of
Sunset
Hills,
Series
2013A,
5.875%,
9/01/43
9/23
at
100.00
BB+  
405,288
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Saint
Andrew's
Resources
for
Seniors,
Series
2015A:
1,650
5.000%,
12/01/35
12/25
at
100.00
N/R  
1,567,087
455
5.125%,
12/01/45
12/25
at
100.00
N/R  
413,395
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
50
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
4,125
Saint
Louis,
Missouri,
Airport
Revenue
Bonds,
Lambert-St.
Louis
International
Airport,
Series
2005,
5.500%,
7/01/29
-
NPFG
Insured
No
Opt.
Call
A-  
$
4,762,519
15,350
Springfield
Public
Building
Corporation,
Missouri,
Lease
Revenue
Bonds,
Jordan
Valley
Park
Projects,
Series
2000A,
0.000%,
6/01/30
-
AMBAC
Insured
No
Opt.
Call
N/R  
11,267,514
Total
Missouri
66,729,346
Montana
-
0.0%
(0.0%
of
Total
Investments)
Kalispell,
Montana,
Housing
and
Healthcare
Facilities
Revenue
Bonds,
Immanuel
Lutheran
Corporation,
Series
2017A:
1,175
5.250%,
5/15/37
5/25
at
102.00
N/R  
1,058,087
375
5.250%,
5/15/47
5/25
at
102.00
N/R  
305,884
Total
Montana
1,363,971
Nebraska
-
0.9%
(0.6%
of
Total
Investments)
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015:
2,090
4.125%,
11/01/36
11/25
at
100.00
A  
2,106,072
1,865
5.000%,
11/01/48
11/25
at
100.00
A  
1,885,161
7,825
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2020A,
2.700%,
9/01/43
3/29
at
100.00
AAA  
6,096,614
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Series
2023A:
5,000
4.550%,
9/01/48,
(UB)
(6)
3/32
at
100.00
AA+  
4,994,450
5,000
4.600%,
9/01/53,
(UB)
(6)
3/32
at
100.00
AAA  
4,926,900
6,800
Scotts
Bluff
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Regional
West
Medical
Center
Project,
Refunding
&
Improvement
Series
2016A,
5.250%,
2/01/37
2/27
at
100.00
BB+  
6,968,708
Total
Nebraska
26,977,905
Nevada
-
1.2%
(0.7%
of
Total
Investments)
410
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Charter
School
Lease
Revenue
Bonds,
Somerset
Academy,
Series
2018A,
5.000%,
12/15/38,
144A
12/25
at
100.00
BB  
391,566
Henderson,
Nevada,
Local
Improvement
Bonds,
Local
Improvement
District
T-21
Black
Mountain
Ranch,
Series
2022:
750
3.500%,
9/01/45
9/31
at
100.00
N/R  
539,783
500
4.000%,
9/01/51
9/31
at
100.00
N/R  
394,235
23,505
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B,
4.000%,
7/01/49
7/28
at
100.00
A  
21,928,285
2,150
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Revenue
Bonds,
Refunding
Series
2017B,
4.000%,
7/01/36
7/27
at
100.00
A  
2,163,179
1,000
Las
Vegas,
Nevada,
Sales
Tax
Increment
Revenue
Bonds,
Symphony
Park
Tourism
Improvement
District,
Series
2016,
4.375%,
6/15/35,
144A
5/23
at
100.00
N/R  
914,690
500
Nevada
State
Director
of
the
Department
of
Business
and
Industry,
Charter
School
Revenue
Bonds,
Doral
Academy
of
Nevada,
Series
2017A,
5.000%,
7/15/37,
144A
7/25
at
100.00
BBB-  
495,945
3,950
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Bonds,
ReTrac-Reno
Transportation
Rail
Access
Corridor
Project,
Series
2018A,
4.000%,
6/01/43
12/28
at
100.00
A2  
3,753,290
3,500
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Capital
Appreciation
Bonds,
ReTrac-Reno
Transportation
Rail
Access
Corridor
Project,
Series
2018C,
0.000%,
7/01/58,
144A
7/38
at
31.26
N/R  
448,910
51
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nevada
(continued)
$
3,210
Tahoe-Douglas
Visitors
Authority,
Nevada,
Stateline
Revenue
Bonds,
Series
2020,
5.000%,
7/01/51
7/30
at
100.00
N/R  
$
3,155,879
Total
Nevada
34,185,762
New
Hampshire
-
1.2%
(0.7%
of
Total
Investments)
14,470
National
Finance
Authority,
New
Hampshire,
Hospital
Facilities
Revenue
Bonds,
Saint
Elizabeth
Medical
Center,
Inc.,
Series
2021A,
4.000%,
5/01/51
5/31
at
100.00
AA  
13,470,412
11,969
National
Finance
Authority,
New
Hampshire,
Municipal
Certificates
Series
2022-1
Class
A,
4.375%,
9/20/36
2022
1
No
Opt.
Call
BBB  
11,797,561
5,000
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018B,
4.625%,
11/01/42,
144A
7/23
at
100.00
B  
4,221,100
5,630
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2020A,
3.625%,
7/01/43,
(Mandatory
Put
7/02/40),
144A
7/25
at
100.00
B  
4,213,830
500
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Kendal
at
Hanover,
Series
2016,
5.000%,
10/01/40
10/26
at
100.00
BBB+  
493,680
Total
New
Hampshire
34,196,583
New
Jersey
-
6.1%
(3.7%
of
Total
Investments)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2016BBB:
34,310
5.500%,
6/15/29,
(Pre-refunded
12/15/26)
12/26
at
100.00
A-  (5)
37,751,293
2,110
5.500%,
6/15/30,
(Pre-refunded
12/15/26)
12/26
at
100.00
A-  (5)
2,321,633
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2005N-1:
6,835
5.500%,
9/01/24
-
AMBAC
Insured
No
Opt.
Call
A-  
7,017,973
5,045
5.500%,
9/01/28
-
NPFG
Insured
No
Opt.
Call
A-  
5,662,861
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2015WW:
11,335
5.250%,
6/15/40,
(Pre-refunded
6/15/25)
6/25
at
100.00
A-  (5)
11,916,712
655
5.250%,
6/15/40,
(Pre-refunded
6/15/25)
6/25
at
100.00
N/R  (5)
688,615
3,310
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Barnabas
Health,
Refunding
Series
2014A,
5.000%,
7/01/44
7/24
at
100.00
AA-  
3,349,753
2,035
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A,
0.000%,
12/15/26
No
Opt.
Call
A-  
1,802,277
20,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C,
0.000%,
12/15/33
-
AGM
Insured
No
Opt.
Call
A  
13,765,600
18,025
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2014AA,
5.000%,
6/15/44
6/24
at
100.00
A-  
18,158,746
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA:
13,690
4.750%,
6/15/38
6/25
at
100.00
A-  
13,939,706
7,935
5.000%,
6/15/45
6/25
at
100.00
A-  
8,065,610
5,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019AA,
5.250%,
6/15/43
12/28
at
100.00
A-  
5,319,350
33,200
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Refunding
Series
2005D-1,
5.250%,
1/01/26
-
AGM
Insured
No
Opt.
Call
A1  
35,074,472
5,000
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Series
2020A,
4.000%,
11/01/50
11/30
at
100.00
Baa2  
4,582,400
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A:
1,420
5.000%,
6/01/46
6/28
at
100.00
BBB+  
1,462,898
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
52
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Jersey
(continued)
$
1,580
5.250%,
6/01/46
6/28
at
100.00
BBB+  
$
1,652,917
3,410
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
BBB-  
3,395,951
1,330
Washington
Township
Board
of
Education,
Mercer
County,
New
Jersey,
General
Obligation
Bonds,
Series
2005,
5.250%,
1/01/26
-
AGM
Insured
No
Opt.
Call
A1  
1,403,110
Total
New
Jersey
177,331,877
New
Mexico
-
0.2%
(0.1%
of
Total
Investments)
3,345
New
Mexico
Mortgage
Finance
Authority,
Single
Family
Mortgage
Program
Bonds,
Class
1
Series
2021C,
2.250%,
7/01/46
7/30
at
100.00
Aaa  
2,416,394
Santa
Fe,
New
Mexico,
Retirement
Facilities
Revenue
Bonds,
EL
Castillo
Retirement
Residences
Project,
Series
2019A:
670
5.000%,
5/15/44
5/26
at
103.00
BB+  
573,393
1,200
5.000%,
5/15/49
5/26
at
103.00
BB+  
987,060
1,000
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Senior
Lien
Series
2022,
4.250%,
5/01/40,
144A
5/29
at
103.00
N/R  
840,000
Total
New
Mexico
4,816,847
New
York
-
8.6%
(5.2%
of
Total
Investments)
14,650
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2015,
5.500%,
9/01/45,
144A
9/25
at
100.00
N/R  
14,653,077
1,350
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023,
7.250%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,356,102
9,320
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1,
5.500%,
6/01/55,
144A
12/30
at
100.00
N/R  
7,375,102
7,390
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020B-1,
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R  
5,386,349
14,215
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A,
4.250%,
5/01/52,
(UB)
(6)
5/32
at
100.00
A-  
13,407,446
1,535
Dormitory
Authority
of
the
State
of
New
York,
Insured
Revenue
Bonds,
Mount
Sinai
School
of
Medicine,
Series
1994A,
5.150%,
7/01/24
-
NPFG
Insured
No
Opt.
Call
Baa2  
1,555,446
9,700
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Columbia
University,
Series
2017A,
5.000%,
10/01/47,
(UB)
(6)
No
Opt.
Call
AAA  
11,516,519
4,070
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Icahn
School
of
Medicine
at
Mount
Sinai,
Refunding
Series
2015A,
5.000%,
7/01/45
7/25
at
100.00
A-  
4,129,870
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2015:
2,700
5.000%,
12/01/40,
144A
6/25
at
100.00
BBB-  
2,626,020
5,600
5.000%,
12/01/45,
144A
6/25
at
100.00
BBB-  
5,360,152
15,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D,
4.000%,
2/15/47
2/30
at
100.00
Aa1  
14,741,100
2,095
Genesee
County
Funding
Corporation,
New
York,
Revenue
Bonds,
Rochester
Regional
Health
Project,
Series
2022A,
5.250%,
12/01/52
12/32
at
100.00
BBB+  
2,149,302
2,120
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Refunding
Series
2020B,
5.570%,
2/01/41
2/30
at
100.00
N/R  
2,057,057
53
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
2,695
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2017A,
6.240%,
2/01/47
2/27
at
100.00
N/R  
$
2,754,101
2,965
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2018A,
6.760%,
2/01/48
2/28
at
100.00
N/R  
3,110,077
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A:
400
5.530%,
2/01/40
2/30
at
100.00
N/R  
388,068
1,270
5.730%,
2/01/50
2/30
at
100.00
N/R  
1,226,109
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A:
1,210
4.450%,
2/01/41
2/30
at
100.00
A2  
958,477
2,380
4.600%,
2/01/51
2/30
at
100.00
A2  
1,772,743
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1:
2,790
5.000%,
11/15/50
5/30
at
100.00
BBB+  
2,886,869
3,155
5.250%,
11/15/55
5/30
at
100.00
BBB+  
3,317,577
7,495
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-2,
4.000%,
11/15/47
11/30
at
100.00
BBB+  
7,011,198
5,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-3,
4.000%,
11/15/49
11/30
at
100.00
BBB+  
4,633,400
2,210
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Climate
Certified
Series
2017C-1,
5.000%,
11/15/24
No
Opt.
Call
BBB+  
2,253,913
7,500
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Climate
Certified
Series
2020E,
4.000%,
11/15/45
11/30
at
100.00
BBB+  
7,096,350
3,585
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Saint
Anns
Community
Project,
Series
2019,
5.000%,
1/01/50
1/26
at
103.00
N/R  
2,605,650
1,000
Nassau
County
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
Services
of
Long
Island
Obligated
Group
Project,
Series
2014,
5.000%,
7/01/31
7/24
at
100.00
A-  
1,020,960
6,735
Nassau
County,
New
York,
General
Obligation
Bonds,
General
Improvement
Series
2022A,
4.000%,
4/01/41
4/32
at
100.00
A+  
6,679,167
20,000
New
York
City
Housing
Development
Corporation,
New
York,  Sustainable
Impact
Revenue
Bonds,
Williamsburg
Housing
Preservation
LP,
Series
2020A,
2.800%,
2/01/50
2/28
at
100.00
Aa2  
13,998,400
11,570
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2016
Series
BB-1,
5.000%,
6/15/46
6/25
at
100.00
AA+  
11,860,754
10,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2023
Series
DD,
4.125%,
6/15/46,
(UB)
(6)
6/33
at
100.00
AA+  
9,952,400
5
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
Series
2005M,
5.000%,
4/01/26
-
FGIC
Insured
5/23
at
100.00
AA  
5,007
28,615
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R  
27,805,768
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
54
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
18,685
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
7
World
Trade
Center
Project,
Refunding
Green
Series
2022A-
CL2,
3.125%,
9/15/50
3/30
at
100.00
Aaa  
$
14,756,666
2,560
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
Bank
of
America
Tower
at
One
Bryant
Park
Project,
Second
Priority
Refunding
Series
2019
Class
3,
2.800%,
9/15/69
3/29
at
100.00
Baa1  
2,314,522
3,500
New
York
State
Housing
Finance
Agency,
Affordable
Housing
Revenue
Bonds,
Climate
Bond
Certified/Sustainability
Series
2019P,
3.050%,
11/01/49
5/28
at
100.00
Aa2  
2,619,365
6,500
New
York
State
Mortgage
Agency,
Homeowner
Mortgage
Revenue
Bonds,
Series
211,
3.750%,
10/01/43
4/27
at
100.00
Aa1  
5,942,950
1,000
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
4.000%,
3/15/50
9/32
at
100.00
AA+  
973,510
5,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2022A,
4.000%,
11/15/52
11/32
at
100.00
AA-  
4,842,300
2,500
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
4.000%,
5/15/48
5/33
at
100.00
AA+  
2,450,675
10,060
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax,
Series
2022A,
4.000%,
5/15/57
11/32
at
100.00
AA+  
9,661,222
7,110
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006,
5.000%,
6/01/48
6/27
at
100.00
N/R  
6,592,605
Total
New
York
247,804,345
North
Carolina
-
0.1%
(0.0%
of
Total
Investments)
2,150
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
Aldersgate
United
Retirement
Community
Inc.,
Refunding
Series
2017A,
5.000%,
7/01/47
7/27
at
100.00
N/R  
1,816,986
Total
North
Carolina
1,816,986
North
Dakota
-
2.0%
(1.2%
of
Total
Investments)
9,950
Cass
County,
North
Dakota,
Health
Care
Facilities
Revenue
Bonds,
Essential
Health
Obligated
Group,
Series
2018B,
4.250%,
2/15/48
2/28
at
100.00
A-  
9,656,674
4,525
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A,
5.000%,
12/01/42
12/27
at
100.00
BBB-  
4,581,698
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021:
1,000
3.000%,
12/01/46
-
AGM
Insured
12/31
at
100.00
BBB-  
773,790
5,000
3.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
BBB-  
3,709,800
1,000
Grand
Forks,
North
Dakota,
Senior
Housing
&
Nursing
Facilities
Revenue
Bonds,
Valley
Homes
and
Services
Obligated
Group,
Series
2017,
5.000%,
12/01/36
12/26
at
100.00
N/R  
902,780
2,000
Horace,
Cass
County,
North
Dakota,
General
Obligation
Bonds,
Refunding
Improvement
Series
2023A,,
5.000%,
5/01/48
5/31
at
100.00
Baa2  
2,004,300
3,820
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Series
2020B,
2.500%,
7/01/44
1/30
at
100.00
Aa1  
2,956,222
1,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2022F,
4.250%,
1/01/47
1/32
at
100.00
Aa1  
975,990
1,000
North
Dakota
Housing
Finance
Agency,
Home
Mortgage
Finance
Program
Bonds,
Social
Series
2023A,
4.700%,
7/01/47
7/32
at
100.00
Aa1  
1,012,260
55
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
North
Dakota
(continued)
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C:
$
8,300
5.000%,
6/01/38
6/28
at
100.00
BB+  
$
7,511,500
1,700
5.000%,
6/01/43
6/28
at
100.00
BB+  
1,455,285
28,050
5.000%,
6/01/53
6/28
at
100.00
BB+  
22,302,835
2,535
Williston,
North
Dakota,
Multifamily
Housing
Revenue
Bonds,
Eagle
Crest
Apartments
LLC
Project,
Series
2013,
7.750%,
9/01/38
(4)
9/23
at
100.00
N/R  
1,140,750
Total
North
Dakota
58,983,884
Ohio
-
9.0%
(5.5%
of
Total
Investments)
9,495
$280,000,000,
Count
of
Washington,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Series
2022,
(Memorial
Health
System
Obligated
Group),
6.750%,
12/01/52
12/32
at
100.00
N/R  
9,529,467
2,000
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
Obligated
Group,
Refunding
Series
2020,
3.000%,
11/15/40
11/30
at
100.00
BBB+  
1,523,600
70,220
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R  
8,592,119
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1:
52,465
3.000%,
6/01/48
6/30
at
100.00
BBB+  
38,590,631
8,255
4.000%,
6/01/48
6/30
at
100.00
BBB+  
7,308,564
39,810
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2,
5.000%,
6/01/55
6/30
at
100.00
N/R  
37,163,033
Centerville,
Ohio
Health
Care
Improvement
Revenue
Bonds,
Graceworks
Lutheran
Services,
Refunding
&
Improvement
Series
2017:
2,750
5.250%,
11/01/37
11/27
at
100.00
N/R  
2,552,110
3,200
5.250%,
11/01/47
11/27
at
100.00
N/R  
2,786,944
3,345
Cleveland
Heights-University
Heights
City
School
District,
Ohio,
General
Obligation
Bonds,
School
Improvement
Series
2014,
5.000%,
12/01/51,
(Pre-refunded
6/01/23)
6/23
at
100.00
A1  (5)
3,349,616
5,000
County
of
Lucas,
Ohio,
Hospital
Revenue
Bonds,
ProMedica
Healthcare
Obligated
Group,
Series
2018A,
5.250%,
11/15/48
11/28
at
100.00
BB  
4,455,050
37,150
Cuyahoga
County,
Ohio,
Certificates
of
Participation,
Convention
Hotel
Project,  Series
2014,
4.375%,
12/01/44,
(UB)
(6)
6/24
at
100.00
A1  
37,199,038
Darke
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Wayne
Healthcare
Project,
Series
2019A:
1,165
4.000%,
9/01/40
9/29
at
100.00
BB+  
1,030,943
1,750
4.000%,
9/01/45
9/29
at
100.00
BB+  
1,497,545
2,000
5.000%,
9/01/49
9/29
at
100.00
BB+  
1,857,740
6,840
Franklin
County
Convention
Facilities
Authority,
Ohio,
Hotel
Project
Revenue
Bonds,
Greater
Columbus
Convention
Center
Hotel
Expansion
Project,
Series
2019,
5.000%,
12/01/51
12/29
at
100.00
BBB-  
6,402,787
3,985
Franklin
County,
Ohio,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017A,
3.250%,
12/01/42
12/27
at
100.00
AA-  
3,443,279
Middletown
City
School
District,
Butler
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2007:
4,380
5.250%,
12/01/27
-
AGM
Insured
No
Opt.
Call
A1  
4,838,323
6,000
5.250%,
12/01/31
-
AGM
Insured
No
Opt.
Call
A1  
7,021,620
12,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013,
5.000%,
2/15/48
5/23
at
100.00
Ba2  
10,549,080
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
56
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
8,500
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/23
No
Opt.
Call
N/R  
$
85
1,050
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
9/01/23
No
Opt.
Call
N/R  
11
2,020
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Corporation
Project,
Refunding
Series
2010B,
3.750%,
6/01/33
(4)
No
Opt.
Call
N/R  
20
1,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005B,
3.125%,
1/01/34
(4)
No
Opt.
Call
N/R  
10
25,880
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
25,075,650
490
Ohio
Higher
Educational
Facility
Commission,
Senior
Hospital
Parking
Revenue
Bonds,
University
Circle
Incorporated
2020
Project,
Series
2020,
5.000%,
1/15/50
1/30
at
100.00
A3  
481,454
1,240
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructure
Commission
Infrastructure
Projects,
Junior
Lien,
Capital
Appreciation
Series
2013A-3,
5.800%,
2/15/36
2/31
at
100.00
A+  
1,476,989
1,610
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2010C,
4.000%,
6/01/33
No
Opt.
Call
N/R  
16
1,130
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33
(4)
No
Opt.
Call
N/R  
11
20,505
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
19,867,705
20,480
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010B,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
19,843,482
3,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A,
5.000%,
11/01/51
11/30
at
100.00
N/R  
2,369,
250
1,330
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015,
6.000%,
3/01/45
3/25
at
100.00
N/R  
1,328,258
Total
Ohio
260,134,430
Oklahoma
-
0.9%
(0.6%
of
Total
Investments)
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B:
3,965
5.500%,
8/15/52
8/28
at
100.00
BB-  
3,730,589
20,510
5.500%,
8/15/57
8/28
at
100.00
BB-  
18,939,139
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022:
1,150
5.500%,
8/15/41
8/32
at
100.00
N/R  
1,120,422
1,390
5.500%,
8/15/44
8/32
at
100.00
N/R  
1,342,712
2,340
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017,
5.250%,
11/15/45
11/25
at
102.00
BBB-  
2,341,802
Total
Oklahoma
27,474,664
57
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oregon
-
0.1%
(0.1%
of
Total
Investments)
Clackamas
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Rose
Villa
Inc.,
Series
2020A:
$
500
5.125%,
11/15/40
11/25
at
102.00
N/R  
$
461,080
220
5.250%,
11/15/50
11/25
at
102.00
N/R  
194,665
315
5.375%,
11/15/55
11/25
at
102.00
N/R  
279,622
Multnomah
County
Hospital
Facilities
Authority,
Oregon,
Revenue
Bonds,
Mirabella
South
Waterfront,
Refunding
Series
2014A:
1,000
5.400%,
10/01/44
10/24
at
100.00
N/R  
881,060
800
5.500%,
10/01/49
10/24
at
100.00
N/R  
699,592
Total
Oregon
2,516,019
Pennsylvania
-
5.1%
(3.1%
of
Total
Investments)
14,790
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A,
4.000%,
4/01/44
4/28
at
100.00
A  
13,758,102
2,540
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Refunding
Project,
Series
2017,
5.000%,
5/01/42,
144A
5/27
at
100.00
Ba3  
2,488,743
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A:
13,235
4.375%,
1/01/35,
(Mandatory
Put
7/01/33)
No
Opt.
Call
BBB-  
13,228,912
3,145
3.500%,
4/01/41
(4)
No
Opt.
Call
N/R  
31
1,245
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35
(4)
No
Opt.
Call
N/R  
13
1,240
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35
(4)
No
Opt.
Call
N/R  
12
9,365
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-  
6,950,422
20,970
Berks
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Tower
Health
Project,
Series
2017,
5.000%,
11/01/50
11/27
at
100.00
B  
11,927,736
Bucks
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
School
Lane
Charter
School
Project,
Series
2016:
2,410
5.125%,
3/15/36
3/27
at
100.00
BBB-  
2,498,495
6,420
5.125%,
3/15/46
3/27
at
100.00
BBB-  
6,540,825
1,000
Butler
County
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Butler
Health
System
Project,
Series
2015A,
5.000%,
7/01/39
7/25
at
100.00
Baa2  
968,640
10,850
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018,
4.000%,
6/01/39
-
AGM
Insured,
(UB)
(6)
6/28
at
100.00
A1  
10,684,646
Cumberland
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2015:
435
5.000%,
1/01/29
1/25
at
100.00
BBB+  
438,628
170
5.000%,
1/01/29,
(Pre-refunded
1/01/25)
1/25
at
100.00
N/R  (5)
175,610
395
5.000%,
1/01/29,
(Pre-refunded
1/01/25)
1/25
at
100.00
N/R  (5)
408,035
2,500
Dubois
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Penn
Highlands
Healthcare,
Series
2018,
5.000%,
7/15/48
1/28
at
100.00
A-  
2,566,450
1,250
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
Landis
Homes
Retirement
Community
Project,
Refunding
Series
2015A,
5.000%,
7/01/45
7/25
at
100.00
BBB-  
1,136,175
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
58
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
820
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Series
2013A,
5.125%,
12/01/47,
(Pre-
refunded
12/01/23)
12/23
at
100.00
N/R  (5)
$
829,364
1,750
McCandless
Industrial
Development
Authority,
Pennsylvania,
La
Roche
University
Revenue
Bonds,
Series
A
and
B
of
2022,
6.750%,
12/01/46
12/32
at
100.00
N/R  
1,666,805
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Albert
Einstein
Healthcare
Network
Issue,
Series
2015A:
11,030
5.250%,
1/15/45,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R  (5)
11,429,065
1,200
5.250%,
1/15/46,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R  (5)
1,243,416
10,765
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Refunding
Bonds,
PPL
Energy
Supply,
LLC
Project,
Series
2009A,
6.400%,
12/01/38
(4)
9/25
at
100.00
N/R  
3,444,800
3,500
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Series
2019-131A,
3.100%,
10/01/44
4/29
at
100.00
AA+  
2,814,700
3,415
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2021-135A,
2.500%,
10/01/50
10/30
at
100.00
AA+  
2,285,967
13,550
Pennsylvania
Turnpike
Commission,
Oil
Franchise
Tax
Revenue
Bonds,
Senior
Series
2018A,
5.250%,
12/01/44
12/28
at
100.00
Aa3  
14,593,350
3,705
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015A-1,
5.000%,
12/01/45
6/25
at
100.00
A1  
3,789,437
11,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2009C,
6.250%,
6/01/33
-
AGM
Insured
6/26
at
100.00
A1  
12,139,600
15,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2015B-1,
5.000%,
12/01/45
12/25
at
100.00
A3  
15,346,050
5,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2019A,
4.000%,
12/01/49
12/29
at
100.00
A3  
4,737,250
Total
Pennsylvania
148,091,279
Puerto
Rico
-
7.0%
(4.2%
of
Total
Investments)
4,934
Cofina
Class
2
Trust
Tax-Exempt
Class
2047,
Puerto
Rico.
Unit
Exchanged
From
Cusip
74529JAN5,
0.000%,
8/01/47
No
Opt.
Call
N/R  
1,348,151
9,761
Cofina
Class
2
Trust
Tax-Exempt
Class
2054,
Puerto
Rico.
Unit
Exchanged
From
Cusip
74529JAP0,
0.000%,
8/01/54
No
Opt.
Call
N/R  
1,994,939
3,780
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A,
5.000%,
7/01/37,
144A
7/32
at
100.00
N/R  
3,741,935
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A:
2,000
5.000%,
7/01/30,
144A
No
Opt.
Call
N/R  
2,027,500
6,000
5.000%,
7/01/35,
144A
7/30
at
100.00
N/R  
5,999,580
19,925
5.000%,
7/01/47,
144A
7/30
at
100.00
N/R  
19,245,956
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B:
7,500
5.000%,
7/01/33,
144A
7/31
at
100.00
N/R  
7,524,375
7,510
4.000%,
7/01/42,
144A
7/31
at
100.00
N/R  
6,383,801
8,070
4.000%,
7/01/47,
144A
7/31
at
100.00
N/R  
6,630,231
145
Puerto
Rico
Public
Finance
Corporation,
Commonwealth
Appropriation
Bonds,
Series
1998A,
5.125%,
6/01/24
-
AMBAC
Insured
No
Opt.
Call
AA+  
146,018
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
3,014
0.000%,
7/01/31
7/28
at
91.88
N/R  
2,051,178
9,834
0.000%,
7/01/33
7/28
at
86.06
N/R  
6,024,702
301
4.500%,
7/01/34
7/25
at
100.00
N/R  
301,855
59
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
$
14,497
0.000%,
7/01/46
7/28
at
41.38
N/R  
$
3,961,160
23,858
0.000%,
7/01/51
7/28
at
30.01
N/R  
4,876,337
13,340
4.750%,
7/01/53
7/28
at
100.00
N/R  
12,507,050
28,183
5.000%,
7/01/58
7/28
at
100.00
N/R  
27,213,505
723
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2019B-2,
4.536%,
7/01/53
7/28
at
100.00
N/R  
654,322
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2:
8,040
4.329%,
7/01/40
7/28
at
100.00
N/R  
7,495,692
22,017
4.329%,
7/01/40
7/28
at
100.00
N/R  
20,526,449
9,556
4.784%,
7/01/58
7/28
at
100.00
N/R  
8,896,158
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
3,784
5.625%,
7/01/29
No
Opt.
Call
N/R  
4,006,499
5,341
5.750%,
7/01/31
No
Opt.
Call
N/R  
5,728,436
21,409
0.000%,
7/01/33
7/31
at
89.94
N/R  
12,522,124
10,178
4.000%,
7/01/33
7/31
at
103.00
N/R  
9,336,180
8,369
4.000%,
7/01/35
7/31
at
103.00
N/R  
7,506,491
10,691
4.000%,
7/01/37
7/31
at
103.00
N/R  
9,366,599
3,318
4.000%,
7/01/41
7/31
at
103.00
N/R  
2,794,586
848
4.000%,
7/01/46
7/31
at
103.00
N/R  
690,145
Total
Puerto
Rico
201,501,954
Rhode
Island
-
2.2%
(1.3%
of
Total
Investments)
1,000
Rhode
Island
Health
and
Educational
Building
Corporation,
Revenue
Bonds,
Care
New
England
Health
System,
Series
2013A,
6.000%,
9/01/33,
(Pre-refunded
9/01/23)
9/23
at
100.00
N/R  (5)
1,008,590
3,430
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2019
Series
71,
3.100%,
10/01/44
4/29
at
100.00
AA+  
2,925,378
10,530
Rhode
Island
Housing
&
Mortgage
Finance
Corporation,
Homeownership
Opportunity
Bond
Program,
2022
Series
76A,
2.550%,
10/01/42
4/31
at
100.00
AA+  
8,118,525
295,135
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A,
0.000%,
6/01/52
5/23
at
17.96
CCC-  
48,735,643
3,280
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2015B,
4.500%,
6/01/45
6/25
at
100.00
N/R  
3,249,299
Total
Rhode
Island
64,037,435
South
Carolina
-
2.6%
(1.6%
of
Total
Investments)
7,600
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2,
0.000%,
1/01/31
-
AMBAC
Insured
No
Opt.
Call
A-  
5,911,736
2,000
South
Carolina
Housing
Finance
and
Development
Authority,
Mortgage
Revenue
Bonds,
Series
2022B,
4.350%,
7/01/47
7/31
at
100.00
Aaa  
1,969,260
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Bishop
Gadsden
Episcopal
Retirement
Community,
Series
2019A:
890
5.000%,
4/01/49
4/26
at
103.00
BBB-  
777,887
1,165
4.000%,
4/01/54
4/26
at
103.00
BBB-  
793,877
1,630
5.000%,
4/01/54
4/26
at
103.00
BBB-  
1,389,836
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020:
405
5.000%,
1/01/40,
144A
1/30
at
100.00
N/R  
372,272
1,000
5.000%,
1/01/55,
144A
1/30
at
100.00
N/R  
845,260
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
60
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
South
Carolina
(continued)
South
Carolina
Jobs-Economic
Development
Authority,
Health
Facilities
Revenue
Bonds,
Lutheran
Homes
of
South
Carolina
Inc.,
Refunding
Series
2017B:
$
1,000
5.000%,
5/01/37
5/23
at
104.00
N/R  
$
871,810
750
5.000%,
5/01/42
5/23
at
104.00
N/R  
615,503
44,325
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2015A,
5.000%,
12/01/50
6/25
at
100.00
A-  
44,535,987
7,565
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2020A,
3.000%,
12/01/41
-
BAM
Insured
12/30
at
100.00
A3  
6,300,662
5,085
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2014C,
5.000%,
12/01/46
12/24
at
100.00
A-  
5,110,272
5,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A,
4.000%,
12/01/55
6/32
at
100.00
A-  
4,418,950
Total
South
Carolina
73,913,312
South
Dakota
-
1.1%
(0.7%
of
Total
Investments)
12,435
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Avera
Health,
Refunding
Series
2017,
5.000%,
7/01/46
7/27
at
100.00
A1  
12,711,927
3,765
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Regional
Health,
Refunding
Series
2017,
5.000%,
9/01/40
9/27
at
100.00
A1  
3,897,980
6,000
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Series
2022B,
2.500%,
11/01/42
11/30
at
100.00
AAA  
4,569,660
South
Dakota
Housing
Development
Authority,
Homeownership
Mortgage
Revenue
Bonds,
Social
Series
2023A:
6,250
4.350%,
11/01/43,
(UB)
(6)
11/31
at
100.00
AAA  
6,321,000
4,000
4.550%,
5/01/48,
(UB)
(6)
11/31
at
100.00
AAA  
4,040,160
Total
South
Dakota
31,540,727
Tennessee
-
0.4%
(0.3%
of
Total
Investments)
1,350
Chattanooga-Hamilton
County
Hospital
Authority,
Tennessee,
Hospital
Revenue
Bonds,
Erlanger
Health
System,
Refunding
Series
2014A,
5.000%,
10/01/39
10/24
at
100.00
Baa2  
1,361,840
1,490
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
East
Tennessee
Children's
Hospital,
Series
2019,
4.000%,
11/15/48
2/29
at
100.00
A  
1,380,321
2,645
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A,
5.500%,
7/01/37
(4)
7/27
at
100.00
N/R  
1,938,891
4,100
Tennergy
Corporation,
Tennessee,
Gas
Revenue
Bonds,
Series
2022A,
5.500%,
10/01/53,
(Mandatory
Put
12/01/30)
9/30
at
100.10
Baa1  
4,345,467
855
Tennessee
Housing
Development
Agency,
Residential
Finance
Program
Bonds,
Series
2020-3A,
2.550%,
1/01/45
7/29
at
100.00
AA+  
667,233
10,000
The
Health
and
Educational
Facilities
Board
of
the
City
of
Franklin,
Tennessee,
Revenue
Bonds,
Provision
Cares
Proton
Therapy
Center,
Nashville
Project,
Series
2017A,
7.500%,
6/01/47,
144A
(4)
6/27
at
100.00
N/R  
2,200,000
Total
Tennessee
11,893,752
Texas
-
11.7%
(7.1%
of
Total
Investments)
3,465
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phase
1
Project,
Series
2015,
7.250%,
9/01/45
9/23
at
103.00
N/R  
3,582,949
61
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
2,910
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phases
2-3
Major
Improvements
Project,
Series
2015,
8.250%,
9/01/40
9/23
at
103.00
N/R  
$
3,007,805
5,480
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
11/15/45,
(UB)
(6)
11/25
at
100.00
AA-  
5,605,766
2,500
Board
of
Managers,
Joint
Guadalupe
County-Seguin
City
Hospital,
Texas,
Hospital
Mortgage
Revenue
Bonds,
Refunding
&
Improvement
Series
2015,
5.000%,
12/01/45
12/25
at
100.00
BB  
2,318,650
2,225
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2015,
7.250%,
9/01/45
9/23
at
103.00
N/R  
2,293,619
3,960
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Areas
2-5
Major
Improvement
Project,
Series
2015,
8.250%,
9/01/40
9/23
at
103.00
N/R  
4,093,254
360
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Wells
South
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2015,
6.250%,
9/01/45
9/24
at
100.00
N/R  
364,518
3,940
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2020A,
5.000%,
1/01/49
1/30
at
100.00
A-  
4,134,242
3,335
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2020E,
5.000%,
1/01/45
1/30
at
100.00
A-  
3,516,624
13,685
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A,
5.000%,
1/01/45,
(Pre-refunded
7/01/25)
7/25
at
100.00
A-  (5)
14,278,108
6,375
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2016,
3.375%,
1/01/41
1/26
at
100.00
A-  
5,536,879
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2013A:
765
4.350%,
12/01/42
5/23
at
100.00
BBB-  
710,402
685
4.400%,
12/01/47
5/23
at
100.00
BBB-  
620,521
4,000
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2015A,
5.000%,
12/01/45
6/25
at
100.00
BBB-  
4,005,440
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project,
Series
2016:
455
5.750%,
9/01/28
9/23
at
103.00
N/R  
470,060
725
6.500%,
9/01/46
9/23
at
103.00
N/R  
748,911
2,520
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2013A,
6.375%,
9/01/42,
(Pre-refunded
9/01/23)
9/23
at
100.00
N/R  (5)
2,544,393
400
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2014A,
5.250%,
9/01/44
9/24
at
100.00
BB+  
388,528
1,255
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012A.
RMKT,
4.750%,
5/01/38
5/23
at
100.00
Baa2  
1,233,414
9,930
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B,
4.750%,
11/01/42
5/23
at
100.00
Baa2  
9,717,796
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2013B:
20,000
5.250%,
10/01/51,
(Pre-refunded
10/01/23)
10/23
at
100.00
N/R  (5)
20,166,800
10,000
5.000%,
4/01/53,
(Pre-refunded
10/01/23),
(UB)
10/23
at
100.00
N/R  (5)
10,073,200
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0228:
5,470
11.750%,
11/01/44,
(Pre-refunded
10/01/23),
144A,
(IF)
(6)
10/23
at
100.00
N/R  (5)
5,630,326
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
62
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
4,255
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015,
5.000%,
12/01/45
6/25
at
100.00
AA  
$
4,339,164
4,080
Harris
County,
Texas,
General
Obligation
Toll
Road
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0074,
6.546%,
8/15/32
-
AGM
Insured,
144A,
(IF)
No
Opt.
Call
AAA  
6,827,676
6,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A,
0.000%,
11/15/48
11/31
at
44.13
A1  
1,731,180
6,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A,
5.000%,
11/15/53
11/24
at
100.00
BBB  
6,044,760
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Third
Lien
Series
2004A-3:
14,055
0.000%,
11/15/34
-
NPFG
Insured
11/24
at
55.69
BB  
7,330,807
1,940
0.000%,
11/15/34,
(Pre-refunded
11/15/24)
-
NPFG
Insured
11/24
at
55.69
Baa2  (5)
1,027,715
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A:
2,295
0.000%,
12/01/42
12/31
at
68.27
BBB-  
804,879
3,000
0.000%,
12/01/43
12/31
at
65.48
BBB-  
992,010
3,000
0.000%,
12/01/44
12/31
at
62.57
BBB-  
938,100
4,000
0.000%,
12/01/45
12/31
at
59.85
BBB-  
1,182,600
7,165
0.000%,
12/01/46
12/31
at
57.36
BBB-  
2,002,403
7,580
0.000%,
12/01/47
12/31
at
55.10
BBB-  
2,002,105
7,095
0.000%,
12/01/48
12/31
at
52.91
BBB-  
1,770,841
7,550
0.000%,
12/01/49
12/31
at
50.78
BBB-  
1,780,215
5,140
0.000%,
12/01/50
12/31
at
48.73
BBB-  
1,143,547
4,000
0.000%,
12/01/51
12/31
at
46.73
BBB-  
836,880
5,000
Houston
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
KIPP,
Inc.,
Refunding
Series
2015,
4.000%,
8/15/44
8/25
at
100.00
AAA  
4,588,450
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B:
4,090
0.000%,
9/01/26
-
AMBAC
Insured
No
Opt.
Call
A1  
3,645,908
4,865
0.000%,
9/01/27
-
AGM
Insured
No
Opt.
Call
A1  
4,200,684
4,715
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
9/01/40
9/24
at
100.00
A  
4,724,854
17,000
Houston,
Texas,
Water
and
Sewerage
System
Revenue
Bonds,
Refunding
Junior
Lien
Series
2002A,
5.750%,
12/01/32
-
AGM
Insured,
(ETM)
No
Opt.
Call
A1  (5)
21,817,800
940
Kerrville
Health
Facilities
Development
Corporation,
Texas,
Revenue
Bonds,
Sid
Peterson
Memorial
Hospital
Project,
Series
2015,
5.000%,
8/15/30
8/25
at
100.00
A-  
972,045
1,000
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2015,
5.000%,
5/15/45
5/25
at
100.00
A  
1,020,170
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013:
3,095
5.750%,
12/01/33
12/25
at
100.00
B1  
3,172,468
3,125
6.125%,
12/01/38
12/25
at
100.00
B1  
3,186,000
Montgomery
County
Toll
Road
Authority,
Texas,
Toll
Road
Revenue
Bonds,
Senior
Lien
Series
2018:
1,900
5.000%,
9/15/43
9/25
at
100.00
BBB-  
1,905,776
1,785
5.000%,
9/15/48
9/25
at
100.00
BBB-  
1,778,003
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Legacy
at
Willow
Bend
Project,
Series
2016:
2,335
5.000%,
11/01/46
11/23
at
103.00
BB  
1,833,909
63
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
6,015
5.000%,
11/01/51
11/23
at
103.00
BB  
$
4,592,272
745
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Wesleyan
Homes,
Inc.
Project,
Series
2014,
5.500%,
1/01/43
1/25
at
100.00
N/R  
627,722
210
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Corpus
Christi
II,
L.L.C.-Texas
A&M
University-Corpus
Christi
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R  (5)
222,499
4,530
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
College
Station
I
LLC
-
Texas
A&M
University
Project,
Series
2014A,
4.100%,
4/01/34
-
AGM
Insured
4/24
at
100.00
A1  
4,554,734
820
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
San
Antonio
1,
L.L.C.
-
Texas
A&M
University
-
San
Antonio
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R  (5)
868,806
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
Stephenville
II,
L.L.C.
-
Tarleton
State
University
Project,
Series
2014A:
1,000
5.000%,
4/01/34,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (5)
1,015,040
2,200
5.000%,
4/01/39,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (5)
2,233,088
1,600
5.000%,
4/01/46,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (5)
1,624,064
5,540
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Galveston-
Texas
A&M
University
at
Galveston
Project,
Series
2014A,
5.000%,
4/01/39,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (5)
5,625,870
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C:
2,590
0.000%,
9/01/43,
(Pre-refunded
9/01/31)
(8)
9/31
at
100.00
N/R  (5)
3,254,309
3,910
6.750%,
9/01/45,
(Pre-refunded
9/01/31)
9/31
at
100.00
N/R  (5)
5,114,906
2,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier,
Series
2015A,
5.000%,
1/01/38
1/25
at
100.00
A2  
2,045,920
610
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A,
5.125%,
2/01/39
2/24
at
100.00
Ba1  
616,216
1,080
Red
River
Education
Finance
Corporation,
Texas,
Higher
Education
Revenue
Bonds,
Saint
Edwards
University
Project,
Series
2016,
4.000%,
6/01/41
6/26
at
100.00
BBB  
950,303
1,870
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Refunding
Series
2013,
5.500%,
9/01/43,
(Pre-refunded
9/01/23)
9/23
at
100.00
A3  (5)
1,883,838
19,955
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A,
4.000%,
7/01/53
7/32
at
100.00
A1  
18,689,853
3,955
Texas
City
Industrial
Development
Corporation,
Texas,
Industrial
Development
Revenue
Bonds,
NRG
Energy,
inc.
Project,
Fixed
Rate
Series
2012,
4.125%,
12/01/45
2/25
at
100.00
Baa2  
3,476,010
2,565
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2018A,
4.250%,
9/01/43
9/27
at
100.00
AA+  
2,560,870
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2021A:
7,155
2.250%,
9/01/46
3/30
at
100.00
AA+  
4,935,805
6,905
2.350%,
9/01/51
3/30
at
100.00
AA+  
4,554,883
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
64
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-635
Managed
Lanes
Project,
Refunding  Series
2020A:
$
5,810
4.000%,
12/31/36
12/30
at
100.00
Baa2  
$
5,672,071
2,735
4.000%,
6/30/37
12/30
at
100.00
Baa2  
2,653,196
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
First
Tier
Series
2015B:
11,280
0.000%,
8/15/36
8/24
at
59.60
A3  
6,250,699
10,000
0.000%,
8/15/37
8/24
at
56.94
A3  
5,256,700
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2015C:
5,230
5.000%,
8/15/37
8/24
at
100.00
Baa1  
5,306,933
31,775
5.000%,
8/15/42
8/24
at
100.00
Baa1  
32,119,123
7,500
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A,
5.000%,
8/01/57
2/29
at
100.00
Baa3  
7,502,925
4,400
Texas
Turnpike
Authority,
Central
Texas
Turnpike
System
Revenue
Bonds,
First
Tier
Series
2002A,
0.000%,
8/15/25
-
AMBAC
Insured
No
Opt.
Call
A3  
4,075,544
970
Ysleta
Independent
School
District
Public
Facility
Corporation,
Texas,
Lease
Revenue
Refunding
Bonds,
Series
2001,
5.375%,
11/15/24
-
AMBAC
Insured
11/23
at
100.00
N/R  
979,826
Total
Texas
337,907,179
Utah
-
0.3%
(0.2%
of
Total
Investments)
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A:
510
3.750%,
3/01/41,
144A
9/26
at
103.00
N/R  
409,071
1,095
4.000%,
3/01/51,
144A
9/26
at
103.00
N/R  
830,470
5,085
Downtown
East
Streetcar
Sewer
Public
Infrastructure
District,
South
Salt
Lake,
Salt
Lake
County,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2022A,
6.000%,
3/01/53,
144A
9/27
at
103.00
N/R  
5,112,459
3,360
MIDA
Military
Installation
Development
Authority
Golf
and
Equestrian
Center
Public
Infrastructure
District,
Utah,
Limited
Tax
and
Tax
Allocation
Revenue
Bonds,
Series
2021,
4.625%,
6/01/57,
144A
12/26
at
103.00
N/R  
2,544,259
500
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.375%,
2/01/51,
144A
2/26
at
103.00
N/R  
376,620
Total
Utah
9,272,879
Vermont
-
0.0%
(0.0%
of
Total
Investments)
1,835
Vermont
Economic
Development
Authority,
Mortgage
Revenue
Bonds,
Wake
Robin
Corporation
Project,
Series
2021A,
4.000%,
5/01/45
5/28
at
103.00
N/R  
1,369,919
Total
Vermont
1,369,919
Virgin
Islands
-
0.2%
(0.1%
of
Total
Investments)
1,790
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A,
5.000%,
10/01/32
-
AGM
Insured
5/23
at
100.00
A1  
1,791,414
4,715
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.375%,
4/01/52,
144A
10/29
at
104.00
N/R  
4,546,203
Total
Virgin
Islands
6,337,617
Virginia
-
0.9%
(0.6%
of
Total
Investments)
Embrey
Mill
Community
Development
Authority,
Virginia,
Special
Assessment
Revenue
Bonds,
Series
2015:
1,180
5.300%,
3/01/35,
(Pre-refunded
3/01/25)
3/25
at
100.00
N/R  (5)
1,227,141
1,085
5.600%,
3/01/45,
(Pre-refunded
3/01/25)
3/25
at
100.00
N/R  (5)
1,134,823
65
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virginia
(continued)
$
5,500
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2020A,
5.000%,
7/01/60
7/30
at
100.00
AA  
$
5,985,595
James
City
County
Economic
Development
Authority,
Virginia,
Residential
Care
Facility
Revenue
Bonds,
Williamsburg
Landing
Inc.,
Refunding
Series
2021A:
1,115
4.000%,
12/01/40
12/27
at
103.00
N/R  
889,246
2,690
4.000%,
12/01/50
12/27
at
103.00
N/R  
1,923,592
2,000
Peninsula
Town
Center
Community
Development
Authority,
Virginia,
Special
Obligation
Bonds,
Refunding
Series
2018,
5.000%,
9/01/45,
144A
9/27
at
100.00
N/R  
1,874,600
1,000
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
Marymount
University
Project,
Green
Series
2015B,
5.250%,
7/01/35,
144A
7/25
at
100.00
Ba3  
1,006,210
10,980
Virginia
Small
Business
Finance
Authority,
Healthcare
Facilities
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc.,
Series
2020A,
4.000%,
12/01/49
6/30
at
100.00
A+  
10,621,942
1,995
Virginia
Small
Business
Finance
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Downtown
Norfolk
and
Virginia
Beach
Oceanfront
Hotel
Projects,
Series
2018A,
8.375%,
4/01/41,
144A
4/28
at
112.76
N/R  
2,042,761
Total
Virginia
26,705,910
Washington
-
1.5%
(0.9%
of
Total
Investments)
5,000
Energy
Northwest,
Washington,
Electric
Revenue
Bonds,
Columbia
Generating
Station,
Refunding
Series
2015A,
5.000%,
7/01/38
7/25
at
100.00
AA-  
5,149,800
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Tender
Option
Bond
Trust
2015-XF0148:
1,030
17.922%,
10/01/44,
144A,
(IF)
(6)
10/24
at
100.00
N/R  
1,017,033
220
17.922%,
10/01/44,
(Pre-refunded
10/01/24),
144A,
(IF)
(6)
10/24
at
100.00
N/R  
217,230
11,005
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Cancer
Center
Alliance,
Series
2020,
5.000%,
9/01/55
9/30
at
100.00
A2  
11,427,922
Washington
State
Housing
Finance
Commission,
Non-profit
Housing
Revenue
Bonds,
Presbyterian
Retirement
Communities
Northwest
Project,
Refunding
Series
2016A:
5,450
5.000%,
1/01/46,
144A
1/25
at
102.00
BB  
4,099,653
3,650
5.000%,
1/01/51,
144A
1/25
at
102.00
BB  
2,661,215
21,510
Washington
State,
Motor
Vehicle
Fuel
Tax
General
Obligation
Bonds,
Series
2002-03C,
0.000%,
6/01/28
-
NPFG
Insured,
(UB)
(6)
No
Opt.
Call
AA+  
18,460,958
Total
Washington
43,033,811
West
Virginia
-
1.5%
(0.9%
of
Total
Investments)
1,900
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A,
5.500%,
6/01/37,
144A
6/27
at
100.00
N/R  
1,939,805
440
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2021A,
4.125%,
6/01/43,
144A
6/31
at
100.00
N/R  
391,543
1,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Cabell
Huntington
Hospital,
Inc.
Project,
Refunding
&
Improvement
Series
2018A,
5.000%,
1/01/43
1/29
at
100.00
Baa2  
965,960
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
66
NVG
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
West
Virginia
(continued)
$
40,950
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Refunding
&
Improvement
Series
2013A,
5.500%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A  (5)
$
41,017,977
Total
West
Virginia
44,315,285
Wisconsin
-
4.2%
(2.5%
of
Total
Investments)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Cornerstone
Charter
Academy,
North
Carolina,
Series
2016A:
1,750
5.000%,
2/01/36,
144A
2/26
at
100.00
N/R  
1,675,047
305
5.125%,
2/01/46,
144A
2/26
at
100.00
N/R  
282,772
1,715
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A,
5.000%,
6/15/49,
144A
6/26
at
100.00
N/R  
1,518,873
500
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School,
North
Carolina,
Series
2017A,
5.125%,
6/15/47,
144A
6/24
at
100.00
N/R  
455,220
1,480
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Envision
Science
Academy
Project,
Series
2016A,
5.125%,
5/01/36,
144A
5/26
at
100.00
N/R  
1,426,276
6,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Phoenix
Academy
Charter
School,
North
Carolina,
Series
2017A,
5.625%,
6/15/37,
144A
6/24
at
100.00
N/R  
5,524,320
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2017A:
1,000
5.500%,
6/15/37,
144A
6/27
at
100.00
N/R  
1,003,940
1,790
5.625%,
6/15/47,
144A
6/27
at
100.00
N/R  
1,770,077
15,205
Public
Finance
Authority
of
Wisconsin,
Health
Care
System
Revenue
Bonds,
Cone
Health,
Series
2022A,
4.000%,
10/01/52,
(UB)
(6)
10/32
at
100.00
AA-  
14,425,592
35,100
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017,
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R  
30,485,754
1,700
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A,
7.000%,
10/01/47,
144A
(4)
10/27
at
100.00
N/R  
1,020,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A:
1,055
5.000%,
12/01/27
No
Opt.
Call
BBB  
1,080,172
1,815
5.200%,
12/01/37
12/27
at
100.00
BBB  
1,861,428
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2020:
75
5.000%,
4/01/40,
(Pre-refunded
4/01/30),
144A
4/30
at
100.00
N/R  (5)
86,559
1,225
5.000%,
4/01/40,
144A
4/30
at
100.00
BB  
1,198,944
4,520
5.000%,
4/01/50,
144A
4/30
at
100.00
BB  
4,198,266
245
5.000%,
4/01/50,
(Pre-refunded
4/01/30),
144A
4/30
at
100.00
N/R  (5)
282,760
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A:
4,050
5.000%,
6/15/38,
144A
6/26
at
100.00
BBB-  
4,070,250
1,575
5.000%,
6/15/48,
144A
6/26
at
100.00
BBB-  
1,553,391
2,500
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C,
4.050%,
11/01/30
5/26
at
100.00
BBB-  
2,413,625
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mercy
Alliance,
Inc.,
Series
2012:
11,000
5.000%,
6/01/32
5/23
at
100.00
A3  
11,001,430
1,000
5.000%,
6/01/39
5/23
at
100.00
A3  
981,500
67
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021:
$
2,405
4.000%,
10/01/51
10/28
at
102.00
N/R  
$
1,719,503
3,845
4.000%,
10/01/61
10/28
at
102.00
N/R  
2,578,649
1,450
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Rocket
Education
Obligated
Group,
Series
2017C,
5.250%,
6/01/40,
144A
6/26
at
100.00
N/R  
1,379,283
1,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Refunding
Series
2017,
5.000%,
8/01/37
8/24
at
103.00
N/R  
808,940
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Project.
Series
2014:
1,000
5.375%,
10/01/44
5/23
at
102.00
N/R  
871,890
1,500
5.500%,
10/01/49
5/23
at
102.00
N/R  
1,308,330
2,275
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021,
4.000%,
1/01/57
1/27
at
103.00
N/R  
1,540,198
1,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Rogers
Memorial
Hospital,
Inc.,
Series
2014A,
5.000%,
7/01/34
7/24
at
100.00
A  
1,020,260
1,850
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
Camillus
Health
System
Inc,
Series
2019A,
5.000%,
11/01/54
11/26
at
103.00
N/R  
1,410,237
10,570
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ThedaCare
Inc,
Series
2019,
4.000%,
12/15/49
12/29
at
100.00
A1  
10,030,084
1,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Three
Pillars
Senior
Living
Communities,
Refunding
Series
2013,
5.000%,
8/15/33,
(Pre-refunded
8/15/23)
8/23
at
100.00
N/R  (5)
1,004,910
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Woodland
Hills
Senior
Housing
Project,
Series
2014:
2,565
5.000%,
12/01/44
5/23
at
102.00
N/R  
2,147,829
1,775
5.250%,
12/01/49
5/23
at
102.00
N/R  
1,509,726
Wisconsin
Housing
and
Economic
Development
Authority,
Housing
Revenue
Bonds,
Series
2019A:
2,800
3.150%,
11/01/44
11/28
at
100.00
Aa3  
2,269,652
3,000
3.200%,
11/01/49
11/28
at
100.00
Aa3  
2,312,760
Total
Wisconsin
120,228,447
Wyoming
-
0.1%
(0.1%
of
Total
Investments)
2,500
Wyoming
Community
Development
Authority,
Housing
Revenue
Bonds,
2023
Series
1,
4.400%,
12/01/43
6/32
at
100.00
AA+  
2,509,250
Total
Wyoming
2,509,250
Total
Municipal
Bonds
(cost
$4,839,132,952)
4,686,472,592
Shares
Description
(1)
Value
X
52,470,004
COMMON
STOCKS
-
1.8%
(1.1%
of
Total
Investments)
X
52,470,004
Independent
Power
and
Renewable
Electricity
Producers
-
1.8%
(1.1%
of
Total
Investments)
676,308
Energy
Harbor
Corp
(9),(10)
$
52,470,004
Total
Independent
Power
and
Renewable
Electricity
Producers
52,470,004
Total
Common
Stocks
(cost
$15,015,822)
52,470,004
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
68
NVG
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
2,713,150
CORPORATE
BONDS
-
0.1%
(0.1%
of
Total
Investments)
X
2,713,150
Independent
Power
And
Renewable
Electricity
Producers
-
0.1%
(0.1%
of
Total
Investments)
$
8,479
Talen
Energy
Corp
0.000%
8/31/23
N/R
$
2,713,150
Total
Independent
Power
And
Renewable
Electricity
Producers
2,713,150
Total
Corporate
Bonds
(cost
$–)
2,713,150
Total
Long-Term
Investments
(cost
$4,854,148,774)
4,741,655,746
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
SHORT-TERM
INVESTMENTS
-
 0.7% (0.4%
of
Total
Investments) 
X
20,000,000
MUNICIPAL
BONDS
-
0.7%
(0.4%
of
Total
Investments)
X
20,000,000
New
York
-
0.2%
(0.1%
of
Total
Investments)
$
5,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Green
Series
2022-XF1321,
4.080%,
5/15/28,
(Mandatory
Put
5/5/2023),
144A
(11)
No
Opt.
Call
A-
$
5,000,000
Total
New
York
5,000,000
South
Carolina
-
0.5%
(0.3%
of
Total
Investments)
15,000
South
Carolina
Public
Service
Authority
Santee
Cooper
Revenue
Obligations,
Tender
Option
Bond
Trust
2016-XM0384,
4.020%,
6/01/37,
(Mandatory
Put
5/5/2023),
144A
(11)
12/23
at
100.00
A-
15,000,000
Total
South
Carolina
15,000,000
Total
Short-Term
Investments
(cost
$20,000,000)
20,000,000
Total
Investments
(cost
$4,874,148,774
)
-
164.6%
4,761,655,746
Floating
Rate
Obligations
-
(7.2)%
(207,070,000)
MFP
Shares,
Net
-
(17.8)%(12)
(515,805,687)
VRDP
Shares,
Net-
(42.7)%(13)
(1,233,840,625)
Other
Assets
&
Liabilities,
Net
-   3.1%
88,003,435
Net
Assets
Applicable
to
Common
Shares
-
100%
$
2,892,942,869
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
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.
(4)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(5)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(6)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(7)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(8)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
69
(9)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006A,
3.500%,
4/01/41,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35,
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/20,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
3/01/23,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Corporation
Project,
Refunding
Series
2010B,
3.750%,
6/01/33,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2006B,
3.125%,
1/01/34,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010C,
4.000%,
6/01/33.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not  currently
satisfied).
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra.  The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023.  In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
Nuveen
expects
these
shares
to
be
issued
in
a
private
transaction
and
may
have
reduced
secondary
market
liquidity.  The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(10)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(11)
Investment
has
a
maturity
of
greater
than
one
year,
but
has
variable
rate
and/or
demand
features
which
qualify
it
as
a
short-term
investment.
The
rate
disclosed,
as
well
as
the
reference
rate
and
spread,
where
applicable,
is
that
in
effect
as
of
the
end
of
the
reporting
period.
This
rate
changes
periodically
based
on
market
conditions
or
a
specified
market
index.
(12)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
10.8%.
(13)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
25.9%.
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.
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
70
Nuveen
Municipal
Credit
Income
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
162.3%  
(100.0%
of
Total
Investments) 
X
4,155,249,272
MUNICIPAL
BONDS
-
157.8%
(97.2%
of
Total
Investments)
X
4,155,249,272
Alabama
-
0.7%
(0.4%
of
Total
Investments)
$
8,585
Alabama
Private
Colleges
and
University
Facilities
Authority,
Limited
Obligation
Bonds,
University
of
Mobile
Project,
Series
2015A,
6.000%,
9/01/45,
144A
9/25
at
100.00
N/R  
$
8,660,119
2,115
Alabama
Special
Care
Facilities
Financing
Authority,
Birmingham,
Hospital
Revenue
Bonds,
Daughters
of
Charity
National
Health
System
-
Providence
Hospital
and
St.
Vincent's
Hospital,
Series
1995,
5.000%,
11/01/25,
(ETM)
5/23
at
100.00
N/R  (4)
2,227,518
2,280
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016B,
5.000%,
11/15/46
5/26
at
100.00
Aa2  
2,330,981
2,720
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016C,
5.000%,
11/15/46
5/26
at
100.00
Aa2  
2,780,819
340
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2019,
5.750%,
10/01/49,
(AMT)
10/29
at
100.00
B1  
345,256
1,350
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Senior
Lien
Series
2013A,
5.250%,
10/01/48
-
AGM
Insured
10/23
at
102.00
BB+  
1,382,441
Total
Alabama
17,727,134
Alaska
-
0.2%
(0.2%
of
Total
Investments)
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015:
1,000
5.000%,
1/01/31,
(AMT)
7/25
at
100.00
Baa2  
1,026,010
2,950
5.000%,
1/01/33,
(AMT)
7/25
at
100.00
Baa2  
3,024,576
2,400
5.000%,
1/01/34,
(AMT)
7/25
at
100.00
Baa2  
2,458,104
Total
Alaska
6,508,690
Arizona
-
1.3%
(0.8%
of
Total
Investments)
2,820
Arizona
Health
Facilities
Authority,
Revenue
Bonds,
Scottsdale
Lincoln
Hospitals
Project,
Refunding
Series
2014A,
5.000%,
12/01/42
12/24
at
100.00
A2  
2,849,243
2,131
Cahava
Springs
Revitalization
District,
Cave
Creek,
Arizona,
Special
Assessment
Bonds,
Series
2017A,
7.000%,
7/01/41,
144A
2021
960240
(5)
7/27
at
100.00
N/R  
1,640,888
3,185
Eastmark
Community
Facilities
District
1,
Mesa,
Arizona,
General
Obligation
Bonds,
Series
2015,
5.000%,
7/15/39,
144A
7/25
at
100.00
N/R  
3,201,849
1,750
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2019A,
5.000%,
9/01/42
9/28
at
100.00
A2  
1,801,660
10,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Series
2017A,
5.000%,
7/01/47,
(AMT)
7/27
at
100.00
AA-  
10,250,600
Phoenix
Mesa
Gateway
Airport
Authority,
Arizona,
Special
Facility
Revenue
Bonds,
Mesa
Project,
Series
2012:
400
5.000%,
7/01/27,
(AMT)
5/23
at
100.00
A1  
400,308
950
5.000%,
7/01/32,
(AMT)
5/23
at
100.00
A1  
950,627
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016:
1,790
5.375%,
7/01/46
7/26
at
100.00
BB-  
1,701,950
2,140
5.500%,
7/01/51
7/26
at
100.00
BB-  
2,033,856
71
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
595
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2016,
6.500%,
2/01/48,
144A
2/24
at
100.00
N/R  
$
597,844
2,060
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2017,
6.750%,
2/01/50,
144A
2/28
at
100.00
N/R  
2,112,509
35
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019,
5.125%,
7/01/39
7/25
at
100.00
N/R  
32,855
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007:
50
5.000%,
12/01/32
No
Opt.
Call
BBB+  
53,175
7,235
5.000%,
12/01/37
No
Opt.
Call
BBB+  
7,505,589
Total
Arizona
35,132,953
Arkansas
-
0.7%
(0.4%
of
Total
Investments)
10,055
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
5.450%,
9/01/52,
(AMT),
144A
9/25
at
105.00
BB-  
10,039,515
6,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT),
144A
9/26
at
103.00
BB-  
5,385,060
2,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
4.750%,
9/01/49,
(AMT),
144A
9/27
at
103.00
BB-  
1,866,140
Total
Arkansas
17,290,715
California
-
21.8%
(13.4%
of
Total
Investments)
2,000
ABC
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2000B,
0.000%,
8/01/23
-
FGIC
Insured
No
Opt.
Call
AA-  
1,983,980
4,225
Alameda
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Series
2005B,
0.000%,
8/01/28
-
AGM
Insured
No
Opt.
Call
AA  
3,634,979
535
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A,
5.000%,
3/01/41
3/26
at
100.00
BBB  
536,247
1,900
Blythe
Redevelopment
Agency
Successor
Agency,
California,
Tax
Allocation
Bonds,
Redevelopment
Project
1,
Refunding
Series
2015,
5.000%,
5/01/38
11/25
at
100.00
N/R  
1,941,838
Calexico
Unified
School
District,
Imperial
County,
California,
General
Obligation
Bonds,
Series
2005B:
4,070
0.000%,
8/01/32
-
FGIC
Insured
No
Opt.
Call
A  
2,952,948
6,410
0.000%,
8/01/34
-
FGIC
Insured
No
Opt.
Call
A  
4,272,713
1,510
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A,
5.000%,
2/01/50,
144A
2/30
at
100.00
N/R  
1,252,485
1,515
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Verdant
at
Green
Valley
Apartments,
Series
2019A,
5.000%,
8/01/49,
144A
8/29
at
100.00
N/R  
1,440,992
1,295
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Golden
Gate
Tobacco
Funding
Corporation,
Turbo,
Series
2007A,
5.000%,
6/01/36
5/23
at
100.00
N/R  
1,265,772
60
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A,
4.000%,
6/01/49
6/30
at
100.00
BBB+  
55,681
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
72
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
22,650
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
City
of
Hope
National
Medical
Center,
Series
2019,
5.000%,
11/15/49,
(UB)
(6)
11/26
at
100.00
A3  
$
23,198,356
3,500
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2020A,
4.000%,
4/01/45
4/30
at
100.00
Baa1  
3,324,160
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph
Health
System,
Series
2013A:
3,840
5.000%,
7/01/33,
(Pre-refunded
7/01/23)
7/23
at
100.00
A  (4)
3,850,560
710
5.000%,
7/01/37,
(Pre-refunded
7/01/23)
7/23
at
100.00
A  (4)
711,952
825
California
Municipal
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
Santa
Rosa
Academy
Project,
Series
2015,
5.375%,
7/01/45,
144A
7/25
at
100.00
BB+  
827,186
34,780
California
Municipal
Finance
Authority,
Revenue
Bonds,
Community
Health
System,
Series
2021A,
4.000%,
2/01/51
-
AGM
Insured
2/32
at
100.00
A1  
32,757,543
22,130
California
Municipal
Finance
Authority,
Special
Facility
Revenue
Bonds,
United
Airlines,
Inc.
Los
Angeles
International
Airport
Project,
Series
2019,
4.000%,
7/15/29,
(AMT)
No
Opt.
Call
BB-  
21,582,282
1,795
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
San
Diego
County
Water
Authority
Desalination
Project
Pipeline,
Refunding
Series
2019,
5.000%,
11/21/45,
144A
1/29
at
100.00
Baa3  
1,821,386
2,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Downtown
College
Prep
-
Obligated
Group,
Series
2016,
5.000%,
6/01/51,
144A
6/26
at
100.00
N/R  
1,849,640
2,000
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Judicial
Council
of
California,
Various
Projects
Series
2013A,
5.000%,
3/01/38,
(Pre-refunded
6/01/23)
6/23
at
100.00
A+  (4)
2,002,760
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A:
2,500
5.250%,
12/01/44
12/24
at
100.00
BB  
2,503,650
11,712
5.500%,
12/01/54
12/24
at
100.00
BB  
11,693,144
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A:
2,250
5.000%,
12/01/41,
144A
6/26
at
100.00
BB  
2,242,372
4,730
5.000%,
12/01/46,
144A
6/26
at
100.00
BB  
4,529,590
33,550
5.250%,
12/01/56,
144A
6/26
at
100.00
BB  
32,168,747
17,205
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A,
5.500%,
12/01/58,
144A
6/28
at
100.00
BB  
17,122,932
16
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A,
5.500%,
7/01/39
(5),(7)
1/22
at
100.00
N/R  
16,109
11
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005H,
5.750%,
7/01/25
(5),(7)
1/22
at
100.00
N/R  
10,873
9,955
Capistrano
Unified
School
District,
Orange
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
98-2,
Series
2005,
0.000%,
9/01/31
-
FGIC
Insured
No
Opt.
Call
Baa2  
7,354,157
Clovis
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Election
2012
Series
2013B:
1,865
5.000%,
8/01/38,
(Pre-refunded
8/01/23)
8/23
at
100.00
N/R  (4)
1,873,094
1,135
5.000%,
8/01/38,
(Pre-refunded
8/01/23)
8/23
at
100.00
AA  (4)
1,140,062
3,795
Colton
Joint
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
Series
2006C,
0.000%,
2/01/37
-
FGIC
Insured
No
Opt.
Call
A+  
2,214,534
73
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
6,050
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Altana
Glendale,
Series
2021A-1,
3.500%,
10/01/46,
144A
10/31
at
100.00
N/R  
$
4,565,451
6,215
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Altana
Glendale,
Series
2021A-2,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R  
4,637,136
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Senior
Lien
Series
2021A-1:
2,330
3.000%,
7/01/43,
144A
7/32
at
100.00
N/R  
1,764,346
10,145
3.125%,
7/01/56,
144A
7/32
at
100.00
N/R  
6,943,035
3,005
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-1,
3.000%,
6/01/47,
144A
6/31
at
100.00
N/R  
2,202,905
21,855
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-2,
3.125%,
6/01/57,
144A
6/31
at
100.00
N/R  
14,393,922
15,120
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Senior
Lien
Series
2021A-1,
3.000%,
12/01/49
6/32
at
100.00
N/R  
10,126,469
1,320
Davis,
California,
Special
Tax
Bonds,
Community
Facilities
District
2015-
1
Series
2015,
5.000%,
9/01/40
9/25
at
100.00
N/R  
1,340,196
2,510
Folsom
Cordova
Unified
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
1,
Series
2004B,
0.000%,
10/01/28
-
NPFG
Insured
No
Opt.
Call
AA-  
2,139,524
3,360
Folsom
Cordova
Unified
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
2,
Series
2002A,
0.000%,
7/01/27
-
NPFG
Insured
No
Opt.
Call
AA-  
2,968,896
3,725
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A,
0.000%,
1/15/34
-
AGM
Insured
No
Opt.
Call
BBB+  
2,633,538
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A:
3,000
0.000%,
1/15/26
(8)
No
Opt.
Call
Baa2  
3,091,050
1,560
5.750%,
1/15/46,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2  (4)
1,590,342
3,560
6.000%,
1/15/49,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2  (4)
3,634,618
4,505
Foothill-De
Anza
Community
College
District,
Santa
Clara
County,
California,
Election
of
1999
General
Obligation
Bonds,
Series
A,
0.000%,
8/01/30
-
NPFG
Insured
No
Opt.
Call
AAA  
3,639,544
5,855
Fremont
Union
High
School
District,
Santa
Clara
County,
California,
General
Obligation
Bonds,
Refunding
Series
2017A,
4.000%,
8/01/46
8/27
at
100.00
AAA  
5,822,271
2,315
Gateway
Unified
School
District,
California,
General
Obligation
Bonds,
Series
2004B,
0.000%,
8/01/32
-
FGIC
Insured
No
Opt.
Call
A+  
1,694,950
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Series
2015A:
8,495
5.000%,
6/01/45,
(Pre-refunded
6/01/25)
6/25
at
100.00
A+  (4)
8,896,474
3,170
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2005A,
0.000%,
6/01/26
-
AGM
Insured,
(ETM)
No
Opt.
Call
Aa3  (4)
2,920,141
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Tender
Option
Bond
Trust
2015-XF1038:
2,445
14.939%,
6/01/40,
(Pre-refunded
6/01/25),
144A,
(IF)
(6)
6/25
at
100.00
Aa1  (4)
2,906,665
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
74
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
1,250
14.951%,
6/01/40,
144A,
(IF)
(6)
6/25
at
100.00
Aa1  
$
1,486,225
15,000
Grossmont
Healthcare
District,
California,
General
Obligation
Bonds,
Refunding
Series
2015D,
4.000%,
7/15/40
7/25
at
100.00
Aa2  
14,910,000
3,190
Hillsborough
City
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Series
2006B,
0.000%,
9/01/27
No
Opt.
Call
AAA  
2,820,470
5,000
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2005,
0.000%,
8/01/31
-
NPFG
Insured
No
Opt.
Call
Aa2  
3,904,750
2,500
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2007,
0.000%,
8/01/32
-
FGIC
Insured
No
Opt.
Call
AA-  
1,886,200
25,000
Irvine
Facilities
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Great
Park
Infrastructure
Project
Series
2023A,
4.000%,
9/01/58
-
BAM
Insured,
(UB)
(WI/DD,
Settling
5/04/23)
9/33
at
100.00
AA  
24,323,000
225
Long
Beach
Bond
Finance
Authority,
California,
Natural
Gas
Purchase
Revenue
Bonds,
Series
2007B,
4.709%,
11/15/27
(3-Month
LIBOR*0.67%
reference
rate
+
1.450%
spread)
(9)
No
Opt.
Call
A-  
222,631
12,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2015D,
5.000%,
5/15/41,
(AMT),
(UB)
(6)
5/25
at
100.00
AA  
12,148,320
2,155
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Series
2022H,
5.000%,
5/15/42,
(AMT)
11/31
at
100.00
AA  
2,309,233
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D:
4,930
4.000%,
5/15/46,
(AMT)
11/31
at
100.00
AA-  
4,745,076
70
4.000%,
5/15/46,
(Pre-refunded
11/15/31),
(AMT)
11/31
at
100.00
N/R  (4)
75,010
9,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2022A,
4.000%,
5/15/49,
(AMT)
5/32
at
100.00
AA-  
8,559,450
2,000
Martinez
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2011,
5.875%,
8/01/31,
(Pre-
refunded
8/01/24)
8/24
at
100.00
Aa3  (4)
2,071,860
1,000
Mendocino-Lake
Community
College
District,
Mendocino
and
Lake
Counties,
California,
General
Obligation
Bonds,
Election
2006,
Series
2011B,
5.600%,
8/01/31,
(Pre-refunded
8/01/26)
-
AGM
Insured
8/26
at
100.00
Aa3  (4)
1,096,670
10,000
Milpitas
Municipal
Financing
Authority,
California,
Wastewater
Revenue
Bonds,
Series
2019,
4.000%,
11/01/49
11/29
at
100.00
AA+  
10,042,800
2,335
Morongo
Band
of
Mission
Indians,
California,
Enterprise
Revenue
Bonds,
Series
2018A,
5.000%,
10/01/42,
144A
10/28
at
100.00
BBB-  
2,323,699
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A:
1,030
0.000%,
8/01/28
(8)
2/28
at
100.00
AA  
1,143,568
2,320
0.000%,
8/01/43
(8)
8/35
at
100.00
AA  
2,136,743
5,420
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009B,
6.500%,
11/01/39
No
Opt.
Call
BBB+  
6,359,340
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009C:
2,700
7.000%,
11/01/34
No
Opt.
Call
BBB+  
3,290,490
2,200
6.500%,
11/01/39
No
Opt.
Call
BBB+  
2,581,282
North
Orange
County
Community
College
District,
California,
General
Obligation
Bonds,
Election
of
2002
Series
2003B:
7,735
0.000%,
8/01/25
-
FGIC
Insured
No
Opt.
Call
AA+  
7,210,722
75
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
4,180
0.000%,
8/01/26
-
FGIC
Insured
No
Opt.
Call
AA+  
$
3,786,620
10,885
Norwalk
La
Mirada
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2002
Series
2005B,
0.000%,
8/01/25
-
FGIC
Insured
No
Opt.
Call
A+  
10,149,501
7,750
Oxnard
Union
High
School
District,
Ventura
County,
California,
General
Obligation
Bonds,
Election
2018
Series
2022C,
4.000%,
8/01/47
8/30
at
100.00
Aa2  
7,736,515
6,000
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
of
2004,
Series
2007A,
0.000%,
8/01/24
-
NPFG
Insured
No
Opt.
Call
BBB-  
5,733,120
12,210
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Convertible
Capital
Appreciation,
Election
2004
Series
2010A,
6.750%,
8/01/40
8/30
at
100.00
BBB-  
14,286,677
5,000
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Series
2009A,
7.000%,
8/01/38
-
AGC
Insured
8/29
at
100.00
BBB-  
5,808,500
1,750
Paramount
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2001B,
0.000%,
9/01/23
-
AGM
Insured
No
Opt.
Call
Aa3  
1,730,522
3,200
Redlands
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
Series
2003,
0.000%,
7/01/27
-
AGM
Insured
No
Opt.
Call
A1  
2,787,232
205
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Senior
Lien
Bonds,
Series
2013A,
5.750%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A  (4)
205,412
2,755
Sacramento
City
Unified
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
Series
2007,
0.000%,
7/01/25
-
AGM
Insured
No
Opt.
Call
BBB+  
2,569,065
165
San
Clemente,
California,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2006-1
Marblehead
Coastal,
Series
2015,
5.000%,
9/01/40
9/25
at
100.00
N/R  
167,524
2,750
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2017A,
5.000%,
7/01/47,
(AMT)
7/27
at
100.00
A  
2,813,635
2,360
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
5.000%,
7/01/51,
(AMT)
7/31
at
100.00
A2  
2,462,164
9,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2014A,
5.000%,
5/01/44,
(AMT)
5/24
at
100.00
A+  
9,026,910
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018D:
13,015
5.000%,
5/01/43,
(AMT)
5/28
at
100.00
A+  
13,456,339
33,485
5.000%,
5/01/48,
(AMT),
(UB)
(6)
5/28
at
100.00
A+  
34,381,728
6,650
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019A,
5.000%,
5/01/44,
(AMT)
5/29
at
100.00
A+  
6,922,650
12,535
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
5.000%,
5/01/45,
(AMT)
5/29
at
100.00
A+  
13,022,737
5,000
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Refunding
Senior
Lien
Toll
Road
Revenue
Bonds,
Series
2021A,
4.000%,
1/15/50
1/32
at
100.00
BBB+  
4,698,950
2,700
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Junior
Lien
Series
2014B,
5.250%,
1/15/44
1/25
at
100.00
BBB  
2,748,654
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
76
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A:
$
6,630
5.000%,
1/15/44,
(Pre-refunded
1/15/25)
1/25
at
100.00
A  (4)
$
6,881,807
3,160
5.000%,
1/15/50,
(Pre-refunded
1/15/25)
1/25
at
100.00
A  (4)
3,280,017
5,760
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2015,
0.000%,
8/01/45
8/25
at
34.92
A3  
1,811,002
Silicon
Valley
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Santa
Clara
County
Tobacco
Securitization
Corporation,
Series
2007A:
7,500
0.000%,
6/01/36
5/23
at
48.61
N/R  
3,630,075
37,555
0.000%,
6/01/47
5/23
at
25.95
N/R  
9,258,810
1,800
Walnut
Valley
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2000
Series
2003D,
0.000%,
8/01/27
-
FGIC
Insured
No
Opt.
Call
AA-  
1,585,242
4,005
Wiseburn
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2011B,
0.000%,
8/01/36
-
AGM
Insured
(8)
8/31
at
100.00
AA  
4,270,371
Total
California
572,903,515
Colorado
-
7.0%
(4.3%
of
Total
Investments)
1,500
Anthem
West
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2015,
5.000%,
12/01/35
-
BAM
Insured
12/25
at
100.00
A1  
1,566,135
1,206
Base
Village
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016A,
5.500%,
12/01/36
5/23
at
102.00
N/R  
1,212,271
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017A:
775
6.000%,
12/01/37
5/23
at
103.00
N/R  
760,213
2,320
6.125%,
12/01/47
5/23
at
103.00
N/R  
2,275,108
685
Canyons
Metropolitan
District
6,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017A,
6.125%,
12/01/47
5/23
at
103.00
N/R  
671,745
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017:
770
5.000%,
12/01/37,
144A
5/23
at
103.00
N/R  
732,124
2,210
5.000%,
12/01/47,
144A
5/23
at
103.00
N/R  
2,005,641
625
Central
Platte
Valley
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2013A,
6.000%,
12/01/38,
(Pre-
refunded
12/01/23)
12/23
at
100.00
BBB  (4)
634,462
900
Cherry
Creek
Corporate
Center
Metropolitan
District,
Arapahoe
County,
Colorado,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A,
5.000%,
6/01/37
12/25
at
100.00
N/R  
873,405
Colorado
Bridge
Enterprise,
Revenue
Bonds,
Central
70
Project,
Senior
Series
2017:
750
4.000%,
12/31/30,
(AMT)
12/27
at
100.00
A  
760,897
250
4.000%,
6/30/31,
(AMT)
12/27
at
100.00
A  
253,585
2,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Children's
Hospital
Colorado
Project,
Series
2013A,
5.000%,
12/01/36
12/23
at
100.00
A+  
1,994,120
2,820
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1,
4.000%,
8/01/38
8/29
at
100.00
Baa1  
2,761,993
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2:
5,500
5.000%,
8/01/34
8/29
at
100.00
Baa1  
5,905,240
6,000
5.000%,
8/01/37
8/29
at
100.00
Baa1  
6,311,640
3,335
5.000%,
8/01/38
8/29
at
100.00
Baa1  
3,498,115
77
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
4,000
5.000%,
8/01/39
8/29
at
100.00
Baa1  
$
4,180,600
28,345
5.000%,
8/01/44
8/29
at
100.00
Baa1  
29,280,385
820
4.000%,
8/01/49
8/29
at
100.00
Baa1  
743,707
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A:
5,000
5.500%,
11/01/47
11/32
at
100.00
Baa1  
5,401,350
8,300
5.250%,
11/01/52,
(UB)
(6)
11/32
at
100.00
Baa1  
8,732,845
2,100
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Craig
Hospital
Project,
Series
2012,
4.000%,
12/01/42
5/23
at
100.00
A+  
2,074,170
585
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013,
5.625%,
6/01/43,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R  (4)
586,076
3,655
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013A,
5.000%,
6/01/45,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R  (4)
3,817,136
2,105
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018,
5.875%,
12/01/46
12/23
at
103.00
N/R  
2,062,795
2,250
Colorado
Springs,
Colorado,
Utilities
System
Revenue
Bonds,
Improvement
Series
2013B-1,
5.000%,
11/15/38
11/23
at
100.00
Aa2  
2,265,255
3,870
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
11/15/43
11/23
at
100.00
A+  
3,886,177
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A:
10,695
5.000%,
12/01/48,
(AMT),
(UB)
(6)
12/28
at
100.00
A  
10,978,631
13,965
5.250%,
12/01/48,
(AMT),
(UB)
(6)
12/28
at
100.00
N/R  
14,506,144
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A:
1,240
5.250%,
12/01/39,
144A
12/23
at
103.00
N/R  
1,252,822
365
5.250%,
12/01/39,
144A
12/23
at
103.00
N/R  
368,321
10,000
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A,
0.000%,
9/01/41
No
Opt.
Call
A  
4,456,600
8,845
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
1997B,
0.000%,
9/01/26
-
NPFG
Insured
No
Opt.
Call
A  
7,962,534
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B:
7,550
0.000%,
9/01/29
-
NPFG
Insured
No
Opt.
Call
A  
6,173,409
11,100
0.000%,
9/01/31
-
NPFG
Insured
No
Opt.
Call
A  
8,402,922
10,000
0.000%,
9/01/32
-
NPFG
Insured
No
Opt.
Call
A  
7,258,500
4,000
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Refunding
Series
2006B,
0.000%,
9/01/39
-
NPFG
Insured
9/26
at
52.09
A  
1,810,120
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014:
1,125
5.750%,
12/01/30
12/24
at
100.00
N/R  
1,105,988
1,000
6.000%,
12/01/38
12/24
at
100.00
N/R  
940,220
825
North
Range
Metropolitan
District
2,
Adams
County,
Colorado
,
Limited
Tax
General
Obligation
Bonds,
Refunding
Special
Revenue
&
Improvement
Series
2017A,
5.750%,
12/01/47
5/23
at
103.00
N/R  
831,130
4,310
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019,
5.000%,
12/01/39
12/24
at
103.00
N/R  
4,141,910
1,870
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
12/01/45
12/25
at
100.00
A  
1,900,892
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
78
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
490
Parker
Automotive
Metropolitan
District
(In
the
Town
of
Parker,
Colorado),
General
Obligation
Bonds,
Refunding
Series
2016,
5.000%,
12/01/45
12/26
at
100.00
N/R  
$
461,531
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds,  Colorado
Springs
Utilities,
Series
2008:
475
6.250%,
11/15/28
No
Opt.
Call
A-  
513,494
4,030
6.500%,
11/15/38
No
Opt.
Call
A-  
4,831,607
954
Reserve
Metropolitan
District
2,
Mount
Crested
Butte,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2016A,
5.000%,
12/01/45
12/26
at
100.00
N/R  
882,259
55
Water
Valley
Metropolitan
District
1,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016,
5.250%,
12/01/40
12/26
at
100.00
N/R  
54,252
105
Water
Valley
Metropolitan
District
2,
Windsor,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2016,
5.250%,
12/01/40
12/26
at
100.00
N/R  
103,797
West
Meadow
Metropolitan
District,
Town
of
Fraser,
Grand
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2023A:
1,000
6.000%,
12/01/38,
144A
12/28
at
103.00
N/R  
993,940
1,000
6.500%,
12/01/50,
144A
12/28
at
103.00
N/R  
998,650
7,320
Windy
Gap
Firming
Project
Water
Activity
Enterprise,
Colorado,
Senior
Revenue
Bonds,
Series
2021,
5.000%,
7/15/51
7/31
at
100.00
AA  
7,953,473
Total
Colorado
184,130,336
Connecticut
-
0.2%
(0.1%
of
Total
Investments)
6,345
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Fairfield
University,
Series
2022U,
4.000%,
7/01/52
7/32
at
100.00
A  
5,574,971
Total
Connecticut
5,574,971
District
of
Columbia
-
0.8%
(0.5%
of
Total
Investments)
5,000
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Series
2019A,
4.000%,
3/01/39
9/29
at
100.00
Aa1  
5,097,800
10,000
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/39
7/32
at
100.00
Aa1  
11,376,500
10,000
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B,
0.000%,
10/01/37
-
AGC
Insured
No
Opt.
Call
Baa1  
5,460,800
Total
District
of
Columbia
21,935,100
Florida
-
9.5%
(5.9%
of
Total
Investments)
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A:
1,005
5.000%,
9/01/43
9/23
at
100.00
BBB  
1,007,332
865
5.000%,
9/01/45
9/23
at
100.00
BBB  
866,868
615
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A,
5.375%,
11/01/36
11/27
at
100.00
N/R  
622,528
665
Bexley
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2016,
4.700%,
5/01/36
5/26
at
100.00
N/R  
648,116
935
Bonterra
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2
Project,
Series
2016,
4.500%,
5/01/34
5/27
at
100.00
N/R  
912,943
Brevard
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Health
First
Obligated
Group,
Series
2022A:
3,315
5.000%,
4/01/41
4/32
at
100.00
A  
3,546,520
3,000
5.000%,
4/01/47
4/32
at
100.00
A  
3,159,900
79
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
4,390
Capital
Trust
Agency,
Florida,
Multifamily
Housing
Revenue
Bonds,
The
Gardens
Apartments
Project,
Series
2015A,
5.000%,
7/01/50
7/25
at
100.00
CCC  
$
3,179,501
325
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2019A,
5.000%,
6/15/39,
144A
6/26
at
100.00
N/R  
303,472
150
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2019,
5.000%,
10/01/49,
(AMT),
144A
10/27
at
100.00
N/R  
145,612
2,000
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Ave
Maria
University,
Refunding
Series
2013A,
5.625%,
6/01/33
6/23
at
100.00
BBB-  
2,003,600
Creekside
at
Twin
Creeks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2016A-1:
120
5.250%,
11/01/37
11/28
at
100.00
N/R  
121,209
155
5.600%,
11/01/46
11/28
at
100.00
N/R  
156,249
Downtown
Doral
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2015:
555
5.250%,
5/01/35
5/26
at
100.00
N/R  
558,802
615
5.300%,
5/01/36
5/26
at
100.00
N/R  
620,074
955
5.500%,
5/01/45
5/26
at
100.00
N/R  
957,769
1,305
5.500%,
5/01/46
5/26
at
100.00
N/R  
1,307,545
Escambia
County
Health
Facilities
Authority,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Baptist
Health
Care
Corporation
Obligated,
Series
2020A:
12,505
4.000%,
8/15/45
2/30
at
100.00
BBB  
11,178,970
6,515
4.000%,
8/15/50
2/30
at
100.00
BBB  
5,642,185
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Upper
School
Project,
Series
2017C:
1,115
5.650%,
7/01/37,
144A
7/27
at
101.00
N/R  
1,122,827
3,385
5.750%,
7/01/47,
144A
7/27
at
101.00
N/R  
3,358,496
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A:
1,420
4.750%,
7/15/36,
144A
7/26
at
100.00
N/R  
1,350,278
1,465
5.000%,
7/15/46,
144A
7/26
at
100.00
N/R  
1,371,328
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
Inc.,
Series
2016A:
1,000
5.000%,
7/01/36
7/26
at
100.00
N/R  
906,400
6,785
5.125%,
7/01/46
7/26
at
100.00
N/R  
5,805,042
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2015A:
900
6.000%,
6/15/35,
144A
6/25
at
100.00
N/R  
909,171
560
6.125%,
6/15/46,
144A
6/25
at
100.00
N/R  
561,658
120
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C,
5.000%,
9/15/40,
144A
9/27
at
100.00
N/R  
106,798
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
The
Florida
Charter
Educational
Foundation
Inc.
Projects,
Series
2016A:
1,015
6.250%,
6/15/36,
144A
6/26
at
100.00
N/R  
1,047,013
2,475
6.375%,
6/15/46,
144A
6/26
at
100.00
N/R  
2,529,698
23,600
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Brightline
Passenger
Rail
Project,
Green
Series
2019B,
7.375%,
1/01/49,
(AMT),
144A
1/24
at
107.00
N/R  
22,435,812
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
80
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
$
19,155
6.250%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/24),
144A
5/23
at
101.00
N/R  
$
19,032,408
10,000
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
5/23
at
102.00
N/R  
9,509,500
14,210
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
5/23
at
102.00
N/R  
13,410,687
25,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2022A,
7.250%,
7/01/57,
(AMT),
(Mandatory
Put
10/03/23),
144A
5/23
at
103.00
N/R  
25,319,250
3,380
Fort
Myers,
Florida,
Utility
System
Revenue
Bonds,
Refunding
Series
2019A,
4.000%,
10/01/49
10/28
at
100.00
A+  
3,231,618
320
Grand
Bay
at
Doral
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
South
Parcel
Assessment
Area
Project,
Series
2016,
4.750%,
5/01/36
5/26
at
100.00
N/R  
313,392
Greater
Orlando
Aviation
Authority,
Florida,
Airport
Facilities
Revenue
Bonds,
Series
2019A:
5,000
4.000%,
10/01/39,
(AMT)
10/29
at
100.00
AA-  
4,940,300
4,230
4.000%,
10/01/49,
(AMT)
10/29
at
100.00
AA-  
4,002,088
4,500
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Priority
Subordinated
Series
2017A,
5.000%,
10/01/42,
(AMT)
10/27
at
100.00
A+  
4,630,365
14,375
Halifax
Hospital
Medical
Center,
Daytona
Beach,
Florida,
Hospital
Revenue
Bonds,
Refunding
&
Improvement
Series
2016,
5.000%,
6/01/36
6/26
at
100.00
A-  
14,885,456
6,845
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Alternative
Minimum
Tax
Refunding
Subordinate
Lien
Series
2022A,
4.000%,
10/01/52,
(AMT)
10/31
at
100.00
Aa3  
6,398,706
12,410
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Series
2018E,
5.000%,
10/01/48,
(AMT)
10/28
at
100.00
AA-  
12,790,615
1,750
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Subordinate
Lien
Series
2015B,
5.000%,
10/01/40,
(Pre-refunded
10/01/24),
(AMT)
10/24
at
100.00
A+  (4)
1,784,983
7,665
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2019A,
5.000%,
10/01/49,
(AMT)
10/29
at
100.00
A  
7,887,055
2,140
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2015,
5.350%,
8/01/35
8/26
at
100.00
N/R  
2,174,796
6,495
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2022,
4.000%,
10/01/52
4/32
at
100.00
A2  
6,031,062
7,500
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health,
Inc.,
Series
2019A,
5.000%,
10/01/47
4/29
at
100.00
A2  
7,857,375
2,335
Orlando,
Florida,
Capital
Improvement
Special
Revenue
Bonds,
Series
2014B,
5.000%,
10/01/46
10/24
at
100.00
AA+  
2,378,127
500
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Jupiter
Medical
Center,
Series
2022,
5.000%,
11/01/52
11/32
at
100.00
BBB-  
503,495
1,950
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Series
2019A,
5.000%,
4/01/39,
144A
4/29
at
100.00
Ba1  
1,875,373
545
Reunion
West
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
3
Project,
Series
2016,
5.000%,
11/01/46
11/26
at
100.00
N/R  
527,326
81
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
Six
Mile
Creek
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2016:
$
130
4.750%,
11/01/28
11/27
at
100.00
N/R  
$
131,309
265
5.375%,
11/01/36
11/27
at
100.00
N/R  
268,212
10,075
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A,
4.000%,
5/01/44
5/26
at
100.00
Aa3  
9,865,944
365
South
Village
Community
Development
District,
Clay
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2016A1,
3.625%,
5/01/35
5/26
at
100.00
A  
359,364
South
Village
Community
Development
District,
Clay
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Refunding
Series
2016A2:
85
4.350%,
5/01/26
No
Opt.
Call
N/R  
84,997
100
4.875%,
5/01/35
5/26
at
100.00
N/R  
100,019
1,350
Sumter
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Central
Florida
Health
Alliance
Projects,
Series
2014A,
5.125%,
7/01/34
1/24
at
100.00
A-  
1,364,296
7,780
Tallahassee,
Florida,
Health
Facilities
Revenue
Bonds,
Tallahassee
Memorial
HealthCare
Inc.
Project,
Refunding
Series
2015A,
5.000%,
12/01/44,
(UB)
6/25
at
100.00
Baa1  
7,770,508
2,600
Tallahassee,
Florida,
Health
Facilities
Revenue
Bonds,
Tallahassee
Memorial
HealthCare
Inc.
Project,
Series
2016A,
5.000%,
12/01/55,
(UB)
12/25
at
100.00
Baa1  
2,595,554
395
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-2,
0.000%,
5/01/40
(8)
5/23
at
100.00
N/R  
357,633
430
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-3,
6.610%,
5/01/40
(5)
5/23
at
100.00
N/R  
4
300
Union
Park
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2016A-1,
5.375%,
11/01/37
11/27
at
100.00
N/R  
303,636
Total
Florida
251,129,169
Georgia
-
5.9%
(3.7%
of
Total
Investments)
2,725
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
New
Downtown
Atlanta
Stadium
Project,
Senior
Lien
Series
2015A-1,
5.250%,
7/01/40
7/25
at
100.00
A  
2,800,483
285
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1,
6.500%,
1/01/29
(5)
1/28
at
100.00
N/R  
128,250
1,205
Atlanta
Urban
Residential
Finance
Authority,
Georgia,
Multifamily
Housing
Revenue
Bonds,
Testletree
Village
Apartments,
Series
2013A,
4.500%,
11/01/35
11/23
at
100.00
B  
1,006,392
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2014A:
2,575
5.000%,
1/01/32
1/24
at
100.00
AA-  
2,603,145
3,750
5.000%,
1/01/34
1/24
at
100.00
AA-  
3,789,600
2,030
Atlanta,
Georgia,
General
Obligation
Bonds,
Public
Improvement
Social
Series
2022A-1,
5.000%,
12/01/41
12/32
at
100.00
Aa1  
2,315,378
Atlanta,
Georgia,
Tax
Allocation
Bonds,
Beltline
Project,
Series
2016D:
1,200
5.000%,
1/01/30
1/27
at
100.00
A2  
1,284,600
1,525
5.000%,
1/01/31
1/27
at
100.00
A2  
1,632,482
725
Atlanta,
Georgia,
Tax
Allocation
Bonds,
Perry
Bolton
Project
Series
2014,
5.000%,
7/01/41
7/23
at
100.00
A  
726,030
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
82
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
Atlanta,
Georgia,
Water
and
Wastewater
Revenue
Bonds,
Refunding
Series
2018A:
$
4,000
5.000%,
11/01/39,
(UB)
(6)
11/27
at
100.00
AA-  
$
4,297,520
3,210
5.000%,
11/01/41
11/27
at
100.00
AA-  
3,429,692
Bainbridge,
Georgia,
Combined
Utilities
Revenue
Bonds,
Series
2021:
2,875
4.000%,
12/01/46
-
BAM
Insured
12/31
at
100.00
A3  
2,782,281
5,000
4.000%,
12/01/51
-
BAM
Insured
12/31
at
100.00
A3  
4,799,650
4,245
Brookhaven
Development
Authority,
Georgia,
Revenue
Bonds,
Children's
Healthcare
of
Atlanta,
Inc.
Project,
Series
2019A,
4.000%,
7/01/49
7/29
at
100.00
Aa2  
4,062,210
4,000
Bryan
County
School
District,
Georgia,
General
Obligation
Bonds,
Series
2018,
5.000%,
8/01/42,
(UB)
(6)
8/26
at
100.00
AA+  
4,179,720
1,250
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Oglethorpe
Power
Corporation
Vogtle
Project,
Series
2017C,
4.125%,
11/01/45
2/28
at
100.00
BBB  
1,144,675
1,250
Burke
County
Development
Authority,
Georgia,
Pollution
Control
Revenue
Bonds,
Oglethorpe
Power
Corporation
Vogtle
Project,
Series
2017D,
4.125%,
11/01/45
2/28
at
100.00
BBB  
1,144,675
1,925
Carroll
City-County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Tanner
Medical
Center
Inc.
Project,
Series
2020,
4.000%,
7/01/50
7/30
at
100.00
AA  
1,819,760
5
Cherokee
County
Water
and
Sewerage
Authority,
Georgia,
Revenue
Bonds,
Series
2001,
5.000%,
8/01/35
-
AGM
Insured
5/23
at
100.00
AA  
5,006
3,190
Cobb-Marietta
Coliseum
and
Exhibit
Hall
Authority,
Georgia,
Revenue
Bonds,
Refunding
Series
1993,
5.625%,
10/01/26
-
NPFG
Insured
No
Opt.
Call
Baa2  
3,334,348
500
Columbus,
Georgia,
Water
and
Sewerage
Revenue
Bonds,
Refunding
Series
2014A,
5.000%,
5/01/31,
(Pre-refunded
5/01/24)
5/24
at
100.00
Aa2  (4)
509,450
1,760
Crisp
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Crisp
County
Hospital
Project,
Series
2021,
4.000%,
7/01/46
7/31
at
100.00
A1  
1,688,702
1,000
Dalton,
Georgia,
Combined
Utilities
Revenue
Bonds,
Series
2020,
4.000%,
3/01/40
3/30
at
100.00
BBB+  
996,320
DeKalb
County,
Georgia,
Water
and
Sewerage
Revenue
Bonds,
Refunding
Series
2006B:
6,000
5.250%,
10/01/32
-
AGM
Insured
10/26
at
100.00
AA  
6,490,500
300
5.000%,
10/01/35
-
AGM
Insured
10/26
at
100.00
AA  
319,635
1,340
Douglas
County
Development
Authority,
Georgia,
Charter
School
Revenue
Bonds,
Brighten
Academy
Project,
Series
2013B,
7.000%,
10/01/43
10/23
at
100.00
N/R  
1,345,159
650
East
Point
Building
Authority,
Georgia,
Revenue
Bonds,
Water
&
Sewer
Project,
Refunding
Series
2017,
5.000%,
2/01/35
-
AGM
Insured
2/27
at
100.00
Aa3  
700,583
3,485
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2014A,
5.000%,
7/01/44
7/24
at
100.00
A1  
3,516,574
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A:
2,500
4.000%,
7/01/49
-
BAM
Insured
7/29
at
100.00
A1  
2,373,450
29,265
4.000%,
7/01/49,
(UB)
(6)
7/29
at
100.00
A1  
27,608,308
3,000
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Robert
W.
Woodruff
Arts
Center,
Inc.
Project,
Refunding
Series
2015A,
5.000%,
3/15/36
3/26
at
100.00
A2  
3,139,440
3,000
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2014A,
5.500%,
8/15/54,
(Pre-refunded
2/15/25)
2/25
at
100.00
AA  (4)
3,135,990
83
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2017B:
$
3,000
5.500%,
2/15/42,
(UB)
(6)
2/27
at
100.00
AA  
$
3,199,680
5,500
5.250%,
2/15/45,
(UB)
(6)
2/27
at
100.00
AA  
5,761,030
6,505
Georgia
Housing
and
Finance
Authority,
Single
Family
Mortgage
Bonds,
Series
2023A,
4.600%,
12/01/53
6/32
at
100.00
AAA  
6,533,297
3,020
Georgia
Local
Governments,
Certificates
of
Participation,
Georgia
Municipal
Association,
Series
1998A,
4.750%,
6/01/28
-
NPFG
Insured
No
Opt.
Call
Baa2  
3,205,579
3,000
Georgia
Municipal
Electric
Authority,
General
Power
Revenue
Bonds,
Series
2012GG,
5.000%,
1/01/43
5/23
at
100.00
A  
3,000,900
Georgia
Ports
Authority,
Revenue
Bonds,
Series
2021:
4,500
4.000%,
7/01/46
7/31
at
100.00
AA  
4,441,545
3,000
4.000%,
7/01/51
7/31
at
100.00
AA  
2,919,150
2,000
Georgia
Ports
Authority,
Revenue
Bonds,
Series
2022,
4.000%,
7/01/52
7/32
at
100.00
AA  
1,947,120
1,500
Georgia
State
Road
and
Tollway
Authority,
Guaranteed
Revenue
Bonds,
Managed
Lane
System,
Series
2021A,
4.000%,
7/15/37
7/31
at
100.00
AAA  
1,575,255
1,500
Habersham
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Series
2014B,
5.000%,
2/01/37,
(Pre-refunded
2/01/24)
2/24
at
100.00
A+  (4)
1,519,845
840
Macon-Bibb
County
Urban
Development
Authority,
Georgia,
Revenue
Bonds,
Academy
for
Classical
Education,
Series
2017,
5.875%,
6/15/47,
144A
6/27
at
100.00
N/R  
843,427
260
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Project
Revenue
Bonds,
Series
2007A,
5.500%,
9/15/26
No
Opt.
Call
A-  
270,954
1,070
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A,
5.000%,
5/15/43
5/29
at
100.00
A3  
1,074,965
3,000
Marietta
Development
Authority,
Georgia,
University
Facilities
Revenue
Bonds,
Life
University,
Inc.
Project,
Refunding
Series
2017A,
5.000%,
11/01/47,
144A
11/27
at
100.00
Ba3  
2,699,010
3,325
Monroe,
Georgia,
Combined
Utilities
Revenue
Bonds,
Series
2020,
4.000%,
12/01/45
-
AGM
Insured
12/30
at
100.00
A2  
3,238,949
3,700
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A,
5.500%,
7/01/60
7/25
at
100.00
BBB+  
3,752,318
1,500
Municipal
Electric
Authority
of
Georgia,
Project
One
Revenue
Bonds,
Subordinate
Lien
Series
2015A,
0.000%,
1/01/32
No
Opt.
Call
A-  
1,101,735
3,000
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Emory
University,
Refunding
Series
2013A,
5.000%,
10/01/43
10/23
at
100.00
AA  
3,007,770
2,000
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Emory
University,
Refunding
Series
2016A,
5.000%,
10/01/46,
(UB)
(6)
10/26
at
100.00
AA  
2,066,380
3,000
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Savannah
College
of
Art
&
Design
Projects,
Series
2014,
5.000%,
4/01/44,
(Pre-refunded
4/01/24)
4/24
at
100.00
A2  (4)
3,051,660
2,000
South
Fulton
Municipal
Regional
Water
and
Sewer
Authority,
Georgia,
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
1/01/30
1/24
at
100.00
AA  
2,028,600
Total
Georgia
156,349,177
Guam
-
0.2%
(0.1%
of
Total
Investments)
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D:
195
5.000%,
11/15/33
11/25
at
100.00
BB  
198,409
1,805
5.000%,
11/15/39
11/25
at
100.00
BB  
1,806,209
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
84
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Guam
(continued)
$
1,310
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2013,
5.500%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (4)
$
1,314,467
1,000
Guam
Power
Authority,
Revenue
Bonds,
Refunding
Series
2017A,
5.000%,
10/01/37
10/27
at
100.00
BBB  
1,033,040
Total
Guam
4,352,125
Hawaii
-
0.2%
(0.2%
of
Total
Investments)
3,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
Health
Obligated
Group,
Series
2013A,
5.500%,
7/01/43
7/23
at
100.00
A1  
3,004,500
1,175
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University,
Series
2013A,
6.625%,
7/01/33,
144A
7/23
at
100.00
BB  
1,177,902
2,320
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2015A,
5.000%,
7/01/41,
(AMT)
7/25
at
100.00
A1  
2,350,299
Total
Hawaii
6,532,701
Idaho
-
0.1%
(0.0%
of
Total
Investments)
1,175
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016,
5.000%,
9/01/37
9/26
at
100.00
BB+  
1,182,591
595
Idaho
Water
Resource
Board,
Water
Resource
Loan
Program
Revenue,
Ground
Water
Rights
Mitigation
Series
2012A,
5.000%,
9/01/32
5/23
at
100.00
A3  
595,345
Total
Idaho
1,777,936
Illinois
-
22.5%
(13.8%
of
Total
Investments)
55,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
6.000%,
4/01/46
4/27
at
100.00
A  
57,827,000
2,255
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Project
Series
2015C,
5.250%,
12/01/35
12/24
at
100.00
BB+  
2,281,023
15,500
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2012B,
5.000%,
12/01/33
5/23
at
100.00
Ba2  
15,536,890
8,400
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017B,
7.000%,
12/01/42,
144A
12/27
at
100.00
BB+  
9,146,592
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A:
1,800
7.000%,
12/01/26
12/25
at
100.00
BB+  
1,937,772
51,780
7.000%,
12/01/44
12/25
at
100.00
BB+  
54,598,903
1,335
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
BB+  
1,403,205
6,210
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A,
7.000%,
12/01/46,
144A
12/27
at
100.00
BB+  
6,735,180
450
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Series
1999A,
0.000%,
12/01/26
-
NPFG
Insured
No
Opt.
Call
BB+  
393,134
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1:
1,715
0.000%,
12/01/26
-
NPFG
Insured
No
Opt.
Call
BB+  
1,498,276
1,000
0.000%,
12/01/27
-
NPFG
Insured
No
Opt.
Call
BB+  
841,260
1,765
0.000%,
12/01/30
-
NPFG
Insured
No
Opt.
Call
BB+  
1,307,759
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1999A:
2,585
0.000%,
12/01/27
-
NPFG
Insured
No
Opt.
Call
BB+  
2,174,657
8,565
0.000%,
12/01/31
-
NPFG
Insured
No
Opt.
Call
BB+  
6,055,112
85
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
2,430
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A,
5.000%,
12/01/45
12/29
at
100.00
A+  
$
2,519,740
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999:
25,755
0.000%,
1/01/29
-
NPFG
Insured
No
Opt.
Call
Baa2  
20,607,348
8,765
0.000%,
1/01/34
-
FGIC
Insured
No
Opt.
Call
Baa2  
5,561,831
17,310
0.000%,
1/01/37
-
FGIC
Insured
No
Opt.
Call
Baa2  
9,199,746
Chicago,
Illinois,
General
Obligation
Bonds,
Neighborhoods
Alive
21
Program,
Series
2002B:
670
5.500%,
1/01/31
1/25
at
100.00
Baa3  
687,299
1,000
5.500%,
1/01/33
1/25
at
100.00
Baa3  
1,024,800
2,695
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2014A,
5.000%,
1/01/35
1/24
at
100.00
Baa3  
2,702,384
13,205
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
6.000%,
1/01/38
1/27
at
100.00
BBB  
14,063,457
2,000
Chicago,
Illinois,
General
Obligation
Bonds,
Project
and
Refunding
Series
2005D,
5.500%,
1/01/40
1/25
at
100.00
Baa3  
2,036,400
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2007E:
10,115
5.500%,
1/01/35
1/25
at
100.00
Baa3  
10,348,050
5,890
5.500%,
1/01/42
1/25
at
100.00
Baa3  
5,983,003
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C:
3,470
5.000%,
1/01/24
No
Opt.
Call
BBB  
3,499,807
350
5.000%,
1/01/29
1/26
at
100.00
BBB  
359,510
765
5.000%,
1/01/35
1/26
at
100.00
BBB  
781,233
1,610
Chicago,
Illinois,
General
Obligation
Bonds,
Series
1999,
0.000%,
1/01/30
No
Opt.
Call
A1  
1,258,183
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2015A:
1,000
5.500%,
1/01/35
1/25
at
100.00
BBB  
1,020,910
9,800
5.500%,
1/01/39
1/25
at
100.00
BBB  
9,956,506
10,125
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
5.000%,
1/01/44,
(UB)
(6)
1/29
at
100.00
BBB  
10,111,331
405
DuPage
County,
Illinois,
Revenue
Bonds,
Morton
Arboretum
Project,
Green
Series
2020,
3.000%,
5/15/47
5/30
at
100.00
A1  
297,485
2,350
Evanston,
Cook
County,
Illinois,
General
Obligation
Bonds,
Corporate
Purpose
Series
2018A,
4.000%,
12/01/43
6/28
at
100.00
Aa2  
2,342,809
8,000
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Refunding
Series
2018A,
4.125%,
5/15/47
11/28
at
100.00
A  
7,501,440
800
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A,
5.500%,
12/01/30,
144A
12/25
at
100.00
N/R  
819,056
2,675
Illinois
Finance
Authority,
Revenue
Bonds,
Columbia
College
Chicago,
Series
2015A,
5.000%,
12/01/37
12/25
at
100.00
BBB+  
2,724,514
4,470
Illinois
Finance
Authority,
Revenue
Bonds,
Mercy
Health
Corporation,
Series
2016,
5.000%,
12/01/46
6/26
at
100.00
A3  
4,518,455
Illinois
Finance
Authority,
Revenue
Bonds,
Rehabilitation
Institute
of
Chicago,
Series
2013A:
415
5.500%,
7/01/28
7/23
at
100.00
A  
416,449
905
6.000%,
7/01/43
7/23
at
100.00
A  
908,855
4,425
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C,
5.000%,
8/15/44
8/25
at
100.00
A3  
4,433,275
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Refunding
Series
2015A:
2,700
5.000%,
10/01/46,
(Pre-refunded
10/01/25),
(UB)
10/25
at
100.00
N/R  (4)
2,837,646
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
86
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
300
5.000%,
10/01/46,
(UB)
10/25
at
100.00
AA-  
$
310,110
Illinois
State,
General
Obligation
Bonds,
April
Series
2014:
6,165
5.000%,
4/01/38
4/24
at
100.00
Baa1  
6,205,257
5,000
5.000%,
4/01/39
4/24
at
100.00
Baa1  
5,027,150
Illinois
State,
General
Obligation
Bonds,
February
Series
2014:
4,100
5.250%,
2/01/31
2/24
at
100.00
Baa1  
4,150,389
2,200
5.250%,
2/01/32
2/24
at
100.00
Baa1  
2,226,488
2,435
5.250%,
2/01/33
2/24
at
100.00
Baa1  
2,463,489
6,000
5.000%,
2/01/39
2/24
at
100.00
Baa1  
6,027,000
1,785
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.500%,
5/01/39
5/30
at
100.00
Baa1  
1,955,146
7,605
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B,
5.500%,
5/01/47,
(UB)
(WI/DD,
Settling
5/10/23)
5/32
at
100.00
BBB+  
8,325,422
Illinois
State,
General
Obligation
Bonds,
November
Series
2016:
3,100
5.000%,
11/01/35
11/26
at
100.00
Baa1  
3,206,857
3,000
5.000%,
11/01/37
11/26
at
100.00
Baa1  
3,080,550
2,400
5.000%,
11/01/40
11/26
at
100.00
Baa1  
2,447,952
5,795
Illinois
State,
General
Obligation
Bonds,
November
Series
2017C,
5.000%,
11/01/29
11/27
at
100.00
BBB+  
6,205,112
3,800
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D,
5.000%,
11/01/27
(6)
No
Opt.
Call
BBB+  
4,075,386
20,830
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D,
5.000%,
11/01/27,
(UB)
(6)
No
Opt.
Call
BBB+  
22,339,550
5,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2016,
5.000%,
2/01/27
No
Opt.
Call
Baa1  
5,298,350
5,350
Illinois
State,
General
Obligation
Bonds,
Refunding
April
Series
2019B,
5.125%,
9/01/26
No
Opt.
Call
Baa1  
5,650,135
27,215
Illinois
State,
General
Obligation
Bonds,
Series
2013,
5.500%,
7/01/38
7/23
at
100.00
BBB+  
27,324,676
7,250
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2013A,
5.000%,
1/01/38
5/23
at
100.00
AA-  
7,256,162
2,755
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A,
5.000%,
1/01/40
7/25
at
100.00
AA-  
2,822,332
560
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0052,
5.791%,
1/01/38,
144A,
(IF)
1/23
at
100.00
AA-  
561,921
2,500
Kane
&
DeKalb
Counties
Community
Unit
School
District
301,
Illinois,
General
Obligation
Bonds,
Series
2006,
0.000%,
12/01/23
-
NPFG
Insured
No
Opt.
Call
Aa2  
2,442,475
5,400
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2015B,
5.000%,
6/15/52
12/25
at
100.00
BBB  
5,422,032
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A:
10,000
4.000%,
6/15/50
12/29
at
100.00
BBB  
8,697,600
13,000
5.000%,
6/15/50
12/29
at
100.00
BBB  
13,145,210
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A:
23,110
0.000%,
12/15/52
No
Opt.
Call
BBB  
5,114,705
2,455
5.000%,
6/15/53
12/25
at
100.00
BBB  
2,464,575
1,945
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB  
1,957,934
8,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B,
0.000%,
12/15/56
-
AGM
Insured
No
Opt.
Call
BBB  
1,571,120
87
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
45,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1,
0.000%,
6/15/43
-
AGM
Insured
No
Opt.
Call
BBB  
$
17,918,100
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Refunding
Series
1998A:
2,680
5.500%,
6/15/29
-
NPFG
Insured
No
Opt.
Call
Baa2  
2,834,395
145
5.500%,
6/15/29,
(Pre-refunded
6/15/25)
-
NPFG
Insured,
(ETM)
No
Opt.
Call
Baa2  (4)
150,520
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A:
8,400
0.000%,
12/15/30
-
NPFG
Insured
No
Opt.
Call
Baa2  
6,364,764
7,940
0.000%,
6/15/33
-
NPFG
Insured
No
Opt.
Call
Baa2  
5,375,221
450
0.000%,
12/15/34
-
NPFG
Insured
No
Opt.
Call
Baa2  
282,024
12,500
0.000%,
6/15/35
-
NPFG
Insured
No
Opt.
Call
Baa2  
7,620,750
10,620
0.000%,
12/15/35
-
NPFG
Insured
No
Opt.
Call
Baa2  
6,285,129
11,505
0.000%,
12/15/36
-
NPFG
Insured
No
Opt.
Call
Baa2  
6,415,533
65,000
0.000%,
12/15/38
-
NPFG
Insured
No
Opt.
Call
Baa2  
32,669,000
38,040
0.000%,
6/15/40
-
NPFG
Insured
No
Opt.
Call
Baa2  
17,375,151
3,720
0.000%,
6/15/41
-
NPFG
Insured
No
Opt.
Call
Baa2  
1,606,556
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitization
Bonds,
Series
2018A:
6,935
5.000%,
1/01/37
1/28
at
100.00
AA-  
7,338,894
4,755
5.000%,
1/01/40
1/28
at
100.00
AA-  
4,994,462
4,005
Southwestern
Illinois
Development
Authority,
Environmental
Improvement
Revenue
Bonds,
US
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
5/23
at
100.00
B1  
4,022,942
1,580
University
of
Illinois,
Health
Services
Facilities
System
Revenue
Bonds,
Series
2013,
6.000%,
10/01/32
10/23
at
100.00
A-  
1,601,678
11,350
Will
County
Community
High
School
District
210
Lincoln-Way,
Illinois,
General
Obligation
Bonds,
Series
2006,
0.000%,
1/01/24
-
AGM
Insured
No
Opt.
Call
A1  
11,057,851
Total
Illinois
591,946,340
Indiana
-
2.6%
(1.6%
of
Total
Investments)
Carmel
Redevelopment
Authority,
Indiana,
Lease
Rent
Revenue
Bonds,
Series
2005:
1,950
0.000%,
2/01/24
No
Opt.
Call
Aa3  
1,894,425
2,705
0.000%,
2/01/25
No
Opt.
Call
Aa3  
2,534,747
4,400
Crown
Point
Multi-School
Building
Corporation,
Indiana,
First
Mortgage
Bonds,
Crown
Point
Community
School
Corporation,
Series
2000,
0.000%,
1/15/24
-
NPFG
Insured
No
Opt.
Call
Baa2  
4,292,156
2,000
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A,
5.875%,
6/01/55,
144A
6/30
at
100.00
N/R  
1,728,480
1,230
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
5/23
at
100.00
B1  
1,235,523
9,300
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Major
Hospital
Project,
Series
2014A,
5.000%,
10/01/44,
(Pre-refunded
10/01/23)
10/23
at
100.00
N/R  (4)
9,365,751
Indiana
Finance
Authority,
Private
Activity
Bonds,
Ohio
River
Bridges
East
End
Crossing
Project,
Series
2013A:
1,500
5.000%,
7/01/35,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R  (4)
1,503,780
5,380
5.000%,
7/01/44,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R  (4)
5,393,558
5,100
5.000%,
7/01/48,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R  (4)
5,112,852
5,370
5.250%,
1/01/51,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R  (4)
5,385,680
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
88
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Indiana
(continued)
$
13,000
Indiana
Finance
Authority,
Water
Utility
Revenue
Bonds,
Citizens
Energy
Group
Project,
First
Lien
Series
2014A,
5.000%,
10/01/44
10/24
at
100.00
AA-  
$
13,209,560
4,375
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Community
Justice
Campus
Bonds,
Courthouse
&
Jail
Project,
Series
2019A,
3.840%,
2/01/54
2/29
at
100.00
Aa1  
4,118,319
10,000
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Series
1999E,
0.000%,
2/01/26
-
AMBAC
Insured
No
Opt.
Call
AA-  
9,174,600
1,000
Merrillville,
Indiana,
Economic
Development
Revenue
Bonds,
Belvedere
Housing
Project,
Series
2016,
5.750%,
4/01/36
4/24
at
102.00
N/R  
864,190
1,250
Shoals,
Indiana,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,  Series
2013,
7.250%,
11/01/43,
(AMT)
11/23
at
100.00
N/R  
1,262,837
1,230
Valparaiso,
Indiana,
Exempt
Facilitiies
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Series
2013,
7.000%,
1/01/44,
(AMT)
1/24
at
100.00
N/R  
1,254,170
Total
Indiana
68,330,628
Iowa
-
1.1%
(0.7%
of
Total
Investments)
5,750
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012,
4.750%,
8/01/42
5/23
at
100.00
BB+  
5,545,645
21,525
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50
12/29
at
103.00
BBB-  
21,396,496
1,900
Iowa
Higher
Education
Loan
Authority,
Private
College
Facility
Revenue
Bonds,
Upper
Iowa
University
Project,
Series
2012,
5.000%,
9/01/43,
(Pre-refunded
9/01/23)
9/23
at
100.00
N/R  (4)
1,911,229
Total
Iowa
28,853,370
Kansas
-
0.6%
(0.3%
of
Total
Investments)
2,085
Overland
Park
Development
Corporation,
Kansas,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
&
improvement
Series
2019,
5.000%,
3/01/44
3/29
at
100.00
BB-  
1,991,592
3,565
Overland
Park,
Kansas,
Sales
Tax
Special
Obligation
Revenue
Bonds,
Prairiefire
at
Lionsgate
Project,
Series
2012,
6.000%,
12/15/32
5/23
at
100.00
N/R  
1,581,969
10,000
University
of
Kansas
Hospital
Authority,
Health
Facilities
Revenue
Bonds,
University
of
Kansas
Health
System,
Series
2017A,
5.000%,
3/01/47
3/27
at
100.00
AA-  
10,249,800
1,130
Washburn
University
of
Topeka,
Kansas,
Revenue
Bonds,
Series
2015A,
5.000%,
7/01/35
7/25
at
100.00
A1  
1,166,002
Total
Kansas
14,989,363
Kentucky
-
1.2%
(0.8%
of
Total
Investments)
Christian
County,
Kentucky,
Hospital
Revenue
Bonds,
Jennie
Stuart
Medical
Center,
Series
2016:
5,000
5.375%,
2/01/36
2/26
at
100.00
BBB-  
5,170,350
435
5.500%,
2/01/44
2/26
at
100.00
BBB-  
444,183
1,000
Hardin
County,
Kentucky,
Hospital
Revenue
Bonds,
Hardin
Memorial
Hospital
Project,
Series
2013,
5.700%,
8/01/39,
(Pre-refunded
8/01/23)
-
AGM
Insured
8/23
at
100.00
A1  (4)
1,005,690
2,355
Henderson,
Kentucky,
Facilities
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Series
2022A,
4.700%,
1/01/52,
(AMT)
1/32
at
100.00
N/R  
2,183,674
Kentucky
Economic
Development
Finance
Authority,
Kentucky,
Healthcare
Facilities
Revenue
Bonds,
Rosedale
Green
Project,
Refunding
Series
2015:
500
5.750%,
11/15/45
11/25
at
100.00
N/R  
427,130
2,250
5.750%,
11/15/50
11/25
at
100.00
N/R  
1,877,693
89
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Kentucky
(continued)
$
6,000
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2,
5.000%,
8/01/44
8/29
at
100.00
Baa1  
$
6,198,000
7,070
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A,
5.000%,
1/01/45
7/25
at
100.00
Baa2  
6,997,674
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C:
1,335
0.000%,
7/01/43
(8)
7/31
at
100.00
Baa2  
1,513,716
2,295
0.000%,
7/01/46
(8)
7/31
at
100.00
Baa2  
2,606,753
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
First
Tier
Series
2013A:
3,080
5.750%,
7/01/49,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (4)
3,089,425
615
6.000%,
7/01/53,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2  (4)
617,109
215
Warren
County,
Kentucky,
Hospital
Revenue
Bonds,
Bowling
Green-
Warren
County
Community
Hospital
Corporation,
Series
2012A,
4.000%,
10/01/29
5/23
at
100.00
AA-  
215,176
Total
Kentucky
32,346,573
Louisiana
-
2.3%
(1.4%
of
Total
Investments)
500
Jefferson
Parish
Economic
Development
and
Port
District,
Louisiana,
Kenner
Discovery
Health
Sciences
Academy
Project,
Series
2018A,
5.625%,
6/15/48,
144A
6/28
at
100.00
N/R  
483,970
6,125
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.500%,
7/01/36,
(AMT),
144A
7/23
at
100.00
N/R  
6,137,985
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Franciscan
Missionaries
of
Our
Lady
Health
System,
Refunding
Series
2015A:
1,450
5.000%,
7/01/39
7/25
at
100.00
A  
1,471,257
10
5.000%,
7/01/39,
(Pre-refunded
7/01/25)
7/25
at
100.00
N/R  (4)
10,463
1,000
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Franciscan
Missionaries
of
Our
Lady
Health
System,
Series
2017A,
5.000%,
7/01/47
7/27
at
100.00
A  
1,016,290
1,000
Louisiana
Public
Facilities
Authority,
Lease
Revenue
Bonds,
Provident
Group-Flagship
Properties
LLC
-
Louisiana
State
University
Nicolson
Gateway
Project,
Series
2016A,
5.000%,
7/01/56
7/26
at
100.00
A3  
1,006,600
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017:
5,000
5.000%,
5/15/42
5/27
at
100.00
A3  
5,122,400
3,730
5.000%,
5/15/46
5/27
at
100.00
A3  
3,802,586
18,730
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2020A,
4.000%,
5/15/49
5/30
at
100.00
A3  
17,700,974
3,305
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Cleco
Power
LLC
Project,
Series
2008,
4.250%,
12/01/38
5/23
at
100.00
BBB+  
3,165,364
1,910
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Series
2011A,
7.750%,
12/15/31
5/23
at
100.00
N/R  
1,913,686
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Loyola
University
Project,
Refunding
Series
2017:
1,775
0.000%,
10/01/36
(8)
10/33
at
100.00
BBB  
1,847,047
3,000
5.250%,
10/01/46
10/33
at
100.00
BBB  
2,982,570
7,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2015,
5.000%,
5/15/47
5/25
at
100.00
A3  
7,096,530
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
90
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Louisiana
(continued)
$
1,060
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Southwest
Louisiana
Charter
Academy
Foundation
Project,
Series
2013A,
8.375%,
12/15/43
12/23
at
100.00
N/R  
$
1,068,289
1,000
Louisiana
Stadium
and
Exposition
District,
Revenue
Refunding
Bonds,
Senior
Lien
Series
2013A,
5.000%,
7/01/36
7/23
at
100.00
A2  
1,000,500
1,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2017B,
5.000%,
1/01/48,
(AMT)
1/27
at
100.00
A  
1,014,730
2,560
New
Orleans,
Louisiana,
Sewerage
Service
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
6/01/44,
(Pre-refunded
6/01/24)
6/24
at
100.00
A  (4)
2,610,253
Total
Louisiana
59,451,494
Maine
-
0.2%
(0.1%
of
Total
Investments)
4,965
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
Ba1  
4,606,775
Total
Maine
4,606,775
Maryland
-
0.4%
(0.3%
of
Total
Investments)
2,000
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A,
5.000%,
12/01/31
(5)
5/23
at
100.00
N/R  
1,200,000
7,145
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
Healthcare,
Series
2016A,
5.500%,
1/01/46
1/27
at
100.00
Baa3  
7,239,600
2,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Peninsula
Regional
Medical
Center
Issue,
Refunding
Series
2015,
5.000%,
7/01/45,
(Pre-refunded
7/01/24)
7/24
at
100.00
Baa1  (4)
2,039,320
355
Prince
George's
County
Revenue
Authority,
Maryland,
Special
Obligation
Bonds,
Suitland-Naylor
Road
Project,
Series
2016,
5.000%,
7/01/46,
144A
1/26
at
100.00
N/R  
356,629
Total
Maryland
10,835,549
Massachusetts
-
0.5%
(0.3%
of
Total
Investments)
525
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D,
5.000%,
7/01/44
7/25
at
100.00
BBB  
530,870
1,525
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emerson
College,
Series
2015,
4.500%,
1/01/45
1/25
at
100.00
Baa2  
1,448,338
1,800
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emmanuel
College,
Series
2016A,
5.000%,
10/01/34
10/26
at
100.00
Baa2  
1,852,902
10,450
Massachusetts
Educational
Financing
Authority,
Education
Loan
Revenue
Bonds,
Issue
J,
Series
2016,
3.500%,
7/01/33,
(AMT)
7/24
at
100.00
A  
10,030,223
Total
Massachusetts
13,862,333
Michigan
-
1.9%
(1.2%
of
Total
Investments)
Detroit
Academy
of
Arts
and
Sciences,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2013:
750
6.000%,
10/01/33
10/23
at
100.00
N/R  
717,525
1,250
6.000%,
10/01/43
10/23
at
100.00
N/R  
1,139,112
13,835
Detroit
City
School
District,
Wayne
County,
Michigan,
Unlimited
Tax
School
Building
and
Site
Improvement
Bonds,
Series
2001A,
6.000%,
5/01/29
-
AGM
Insured,
(UB)
No
Opt.
Call
AA  
15,390,884
5
Detroit,
Michigan,
Second
Lien
Sewerage
Disposal
System
Revenue
Bonds,
Series
2005A,
4.500%,
7/01/35
-
NPFG
Insured
5/23
at
100.00
A2  
5,005
3,000
Detroit,
Michigan,
Senior
Lien
Sewerage
Disposal
System
Revenue
Bonds,
Series
2001B,
5.500%,
7/01/29
-
NPFG
Insured
No
Opt.
Call
A2  
3,245,580
91
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
5
Detroit,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Second
Lien,
Series
2006B,
5.000%,
7/01/36
-
FGIC
Insured
5/23
at
100.00
A2  
$
5,007
10
Detroit,
Michigan,
Water
Supply
System
Revenue
Bonds,
Senior
Lien
Series
2003A,
5.000%,
7/01/34
-
NPFG
Insured
5/23
at
100.00
A1  
10,014
20,460
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Bronson
Healthcare
Group,
Inc.,
Refunding
Series
2019A,
5.000%,
5/15/54
5/26
at
100.00
A2  
20,487,826
1,000
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Water
Supply
System
Local
Project,
Series
2014D-6,
5.000%,
7/01/36
-
NPFG
Insured
7/24
at
100.00
A2  
1,012,560
1,350
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts
Senior
Current
Interest
Series
2020A-2,
5.000%,
6/01/40
12/30
at
100.00
BBB+  
1,408,887
5,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2019-I,
4.000%,
4/15/54
10/29
at
100.00
AA-  
4,890,000
2,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2012A,
5.000%,
12/01/37
5/23
at
100.00
A  
2,001,620
Total
Michigan
50,314,020
Minnesota
-
0.8%
(0.5%
of
Total
Investments)
700
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A,
5.000%,
7/01/47
7/24
at
102.00
N/R  
631,841
1,500
Forest
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Lakes
International
Language
Academy,
Series
2014A,
5.750%,
8/01/44
5/23
at
102.00
BB+  
1,508,610
800
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hiawatha
Academies
Project,
Series
2022A,
5.500%,
7/01/52
7/32
at
100.00
N/R  
739,984
3,435
Saint
Cloud,
Minnesota,
Health
Care
Revenue
Bonds,
CentraCare
Health
System,
Series
2019,
5.000%,
5/01/48
5/29
at
100.00
A2  
3,543,134
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A:
750
5.750%,
9/01/46
9/26
at
100.00
BB+  
752,227
4,000
6.000%,
9/01/51
9/26
at
100.00
BB+  
4,034,320
6,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Facility
Revenue
Bonds,
HealthPartners
Obligated
Group,
Refunding
Series
2015A,
5.000%,
7/01/32
7/25
at
100.00
A  
6,217,320
4,055
Saint
Paul
Port
Authority,
Minnesota,
Lease
Revenue
Bonds,
Regions
Hospital
Parking
Ramp
Project,
Series
2007-1,
5.000%,
8/01/36
5/23
at
100.00
N/R  
4,055,852
Total
Minnesota
21,483,288
Missouri
-
1.5%
(0.9%
of
Total
Investments)
615
Branson
Industrial
Development
Authority,
Missouri,
Tax
Increment
Revenue
Bonds,
Branson
Shoppes
Redevelopment
Project,
Refunding
Series
2017A,
3.900%,
11/01/29
11/25
at
100.00
N/R  
568,186
895
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2016A,
6.000%,
3/01/33
5/23
at
103.00
BB-  
923,005
55
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2017A,
5.000%,
3/01/36
3/27
at
100.00
BB-  
56,281
10,090
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
5.000%,
3/01/46,
(AMT)
3/29
at
100.00
A-  
10,409,752
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
92
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
135
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016,
5.000%,
4/01/46,
144A
4/26
at
100.00
N/R  
$
118,145
12,005
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1,
0.000%,
4/15/29
-
AMBAC
Insured
No
Opt.
Call
A2  
10,168,595
650
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B,
5.000%,
2/01/40,
144A
2/28
at
100.00
N/R  
515,275
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Series
2015A:
945
5.125%,
6/01/25,
144A
No
Opt.
Call
N/R  
929,540
3,810
5.750%,
6/01/35,
144A
6/25
at
100.00
N/R  
3,531,032
3,695
6.000%,
6/01/46,
144A
6/25
at
100.00
N/R  
3,388,980
Missouri
Health
and
Educational
Facilities
Authority,
Educational
Facilities
Revenue
Bonds,
Kansas
City
University
of
Medicine
and
Biosciences,
Series
2013A:
1,590
5.000%,
6/01/30
6/23
at
100.00
A1  
1,593,053
2,700
5.000%,
6/01/33
6/23
at
100.00
A1  
2,704,995
505
Missouri
Health
and
Educational
Facilities
Authority,
Educational
Facilities
Revenue
Bonds,
University
of
Central
Missouri,
Series
2013C-2,
5.000%,
10/01/34
10/23
at
100.00
A+  
506,661
50
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A,
5.000%,
11/15/44
11/23
at
100.00
A2  
49,356
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Ranken-Jordan
Project,
Refunding
&
Improvement
Series
2016:
1,275
5.000%,
11/15/41
11/25
at
100.00
N/R  
1,273,763
1,105
5.000%,
11/15/46
11/25
at
100.00
N/R  
1,074,149
430
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
of
Sunset
Hills,
Series
2013A,
5.875%,
9/01/43
9/23
at
100.00
BB+  
430,305
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Saint
Andrew's
Resources
for
Seniors,
Series
2015A:
450
5.000%,
12/01/35
12/25
at
100.00
N/R  
427,387
130
5.125%,
12/01/45
12/25
at
100.00
N/R  
118,113
830
Stoddard
County
Industrial
Development
Authority,
Missouri,
Health
Facility
Revenue
Bonds,
Southeasthealth,
Series
2016B,
6.000%,
3/01/37
5/23
at
103.00
BB-  
856,328
700
The
Industrial
Development
Authority
of
the
City
of
Saint
Louis,
Missouri,
Development
Financing
Revenue
Bonds,
Ballpark
Village
Development
Project,
Series
2017A,
4.750%,
11/15/47
11/26
at
100.00
N/R  
521,640
Total
Missouri
40,164,541
Nebraska
-
0.5%
(0.3%
of
Total
Investments)
5,835
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
3
Revenue
Bonds,
Refunding
Crossover
Series
2017A,
5.000%,
9/01/42
No
Opt.
Call
BBB+  
6,084,271
Douglas
County
Hospital
Authority
2,
Nebraska,
Hospital
Revenue
Bonds,
Madonna
Rehabilitation
Hospital
Project,
Series
2014:
1,930
5.000%,
5/15/27
5/24
at
100.00
A-  
1,946,772
3,000
5.000%,
5/15/36
5/24
at
100.00
A-  
3,013,080
93
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nebraska
(continued)
$
2,110
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015,
5.000%,
11/01/48
11/25
at
100.00
A  
$
2,132,809
Total
Nebraska
13,176,932
Nevada
-
0.4%
(0.2%
of
Total
Investments)
2,000
Clark
County
School
District,
Nevada,
General
Obligation
Bonds,
Limited
Tax
Building
Series
2018A,
4.000%,
6/15/37
6/28
at
100.00
A+  
2,016,780
4,410
Clark
County,
Nevada,
General
Obligation
Bonds,
Stadium
Improvement,
Limited
Tax
Additionally
Secured
by
Pledged
Revenues,
Series
2018A,
5.000%,
5/01/48
6/28
at
100.00
AA+  
4,671,689
4,000
Las
Vegas
Valley
Water
District,
Nevada,
General
Obligation
Bonds,
Refunding
Series
2015,
5.000%,
6/01/39
12/24
at
100.00
AA  
4,079,280
Total
Nevada
10,767,749
New
Hampshire
-
0.1%
(0.1%
of
Total
Investments)
2,995
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018C,
4.875%,
11/01/42,
(AMT),
144A
7/23
at
100.00
B  
2,613,856
Total
New
Hampshire
2,613,856
New
Jersey
-
7.5%
(4.6%
of
Total
Investments)
255
Gloucester
County
Pollution
Control
Financing
Authority,
New
Jersey,
Pollution
Control
Revenue
Bonds,
Logan
Project,
Refunding
Series
2014A,
5.000%,
12/01/24,
(AMT),
(ETM)
No
Opt.
Call
N/R  (4)
257,193
1,100
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013,
5.125%,
7/01/42
-
AGM
Insured,
(AMT)
1/24
at
100.00
A-  
1,104,235
17,580
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2016BBB,
5.500%,
6/15/31,
(Pre-refunded
12/15/26)
12/26
at
100.00
A-  (4)
19,343,274
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2015WW:
755
5.250%,
6/15/40,
(Pre-refunded
6/15/25),
(UB)
6/25
at
100.00
A-  (4)
793,746
40
5.250%,
6/15/40,
(Pre-refunded
6/15/25),
(UB)
6/25
at
100.00
N/R  (4)
42,053
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2016AAA:
1,000
5.000%,
6/15/36
12/26
at
100.00
A-  
1,050,110
10,000
5.000%,
6/15/41,
(Pre-refunded
12/15/26)
12/26
at
100.00
A-  (4)
10,795,300
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2017DDD:
2,000
5.000%,
6/15/35,
(Pre-refunded
6/15/27)
6/27
at
100.00
A-  (4)
2,203,660
2,175
5.000%,
6/15/42,
(Pre-refunded
6/15/27)
6/27
at
100.00
A-  (4)
2,396,480
16,000
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2019LLL,
5.000%,
6/15/49
12/29
at
100.00
A-  
16,822,240
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
1999:
275
5.125%,
9/15/23,
(AMT)
5/23
at
101.00
BB-  
275,225
1,650
5.250%,
9/15/29,
(AMT)
5/23
at
101.00
BB-  
1,660,973
2,155
New
Jersey
Economic
Development
Authority,
Special
Facility
Revenue
Bonds,
Port
Newark
Container
Terminal
LLC
Project,
Refunding
Series
2017,
5.000%,
10/01/37,
(AMT)
10/27
at
100.00
Baa2  
2,165,064
1,120
New
Jersey
Educational
Facilities
Authority,
Revenue
Bonds,
Seton
Hall
University,
Series
2013D,
5.000%,
7/01/33,
(Pre-refunded
7/01/23)
7/23
at
100.00
BBB+  (4)
1,123,192
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
94
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Jersey
(continued)
$
5,000
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Series
2021A,
3.000%,
7/01/51
7/31
at
100.00
AA-  
$
3,781,700
405
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
University
Hospital
Issue,
Refunding
Series
2015A,
5.000%,
7/01/46
-
AGM
Insured
7/25
at
100.00
BB-  
409,378
2,900
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022BB,
4.000%,
6/15/41
12/31
at
100.00
A-  
2,867,491
19,650
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022CC,
5.000%,
6/15/48
12/32
at
100.00
A-  
21,047,901
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A:
3,130
0.000%,
12/15/28
No
Opt.
Call
A-  
2,587,133
3,000
0.000%,
12/15/31
No
Opt.
Call
A-  
2,212,680
12,715
0.000%,
12/15/33
No
Opt.
Call
A-  
8,633,612
610
0.000%,
12/15/34
No
Opt.
Call
A-  
395,140
2,480
0.000%,
12/15/40
No
Opt.
Call
A-  
1,101,442
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C:
10,000
0.000%,
12/15/33
-
AGM
Insured
No
Opt.
Call
A  
6,882,800
20,000
0.000%,
12/15/36
-
AMBAC
Insured,
(UB)
(6)
No
Opt.
Call
A-  
11,378,000
19,175
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2008A,
0.000%,
12/15/35
No
Opt.
Call
A-  
11,704,420
15,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A,
0.000%,
12/15/39
No
Opt.
Call
A-  
7,101,300
5,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009C,
5.250%,
6/15/32
12/24
at
100.00
A-  
5,165,950
6,305
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA,
5.000%,
6/15/45
6/25
at
100.00
A-  
6,408,780
15,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2018A,
5.000%,
12/15/34,
(UB)
(6)
12/28
at
100.00
BBB+  
16,312,050
6,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB,
4.000%,
6/15/44
12/28
at
100.00
A-  
5,825,460
1,595
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A,
5.000%,
6/01/46
6/28
at
100.00
BBB+  
1,643,185
20,755
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
BBB-  
20,669,490
Total
New
Jersey
196,160,657
New
Mexico
-
0.2%
(0.1%
of
Total
Investments)
4,185
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A,
5.000%,
8/01/44
8/29
at
100.00
Aa3  
4,402,495
Total
New
Mexico
4,402,495
New
York
-
15.6%
(9.6%
of
Total
Investments)
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009:
3,400
0.000%,
7/15/44
No
Opt.
Call
Ba1  
1,163,990
12,020
0.000%,
7/15/46
No
Opt.
Call
Ba1  
3,660,811
450
Buffalo
and
Erie
County
Industrial
Land
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
System,
Inc.
Project,
Series
2015,
5.250%,
7/01/35
7/25
at
100.00
Caa2  
391,171
95
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
200
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014,
5.000%,
11/01/39
11/24
at
100.00
BB-  
$
164,280
490
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2015,
5.500%,
9/01/45,
144A
9/25
at
100.00
N/R  
490,103
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2015A:
2,950
5.000%,
7/01/50
7/25
at
100.00
BBB+  
2,983,866
220
5.000%,
7/01/50,
(Pre-refunded
7/01/25)
7/25
at
100.00
N/R  (4)
229,957
15,270
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Vaughn
College
of
Aeronautics
&
Technology,
Series
2016A,
5.500%,
12/01/46,
144A
12/26
at
100.00
BB-  
14,185,219
5,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Bidding
Group
5
Series
2021E,
4.000%,
3/15/48
3/32
at
100.00
AA+  
4,893,950
5,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D,
4.000%,
2/15/40
2/30
at
100.00
Aa1  
5,014,500
81,270
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2005C,
0.000%,
6/01/50,
144A
5/23
at
18.37
N/R  
8,634,938
350
Jefferson
County
Civic
Facility
Development
Corporation,
New
York,
Revenue
Bonds,
Samaritan
Medical
Center
Project,
Series
2017A,
4.000%,
11/01/42
11/27
at
100.00
BB  
262,829
3,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2014A,
5.000%,
9/01/39
9/24
at
100.00
A  
3,039,840
6,280
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
5.250%,
11/15/55
5/30
at
100.00
BBB+  
6,603,608
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Green
Series
2016B:
4,210
5.000%,
11/15/34
11/26
at
100.00
BBB+  
4,367,875
3,320
5.000%,
11/15/37
11/26
at
100.00
BBB+  
3,409,673
1,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2015F,
5.000%,
11/15/35
11/25
at
100.00
BBB+  
1,022,300
5,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Refunding
Series
2017D,
5.000%,
11/15/32
5/28
at
100.00
BBB+  
5,350,700
2,500
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2013A,
5.000%,
11/15/38
5/23
at
100.00
BBB+  
2,504,700
2,775
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2013D,
5.000%,
11/15/38
11/23
at
100.00
BBB+  
2,768,978
1,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
St.
John
Fisher
College,
Series
2011,
6.000%,
6/01/34
5/23
at
100.00
A-  
1,002,150
6,895
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2019
Series
FF-2,
4.000%,
6/15/41
6/29
at
100.00
AA+  
6,921,546
10,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
AA,
4.000%,
6/15/40
12/29
at
100.00
AA+  
10,063,300
9,750
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
CC-1,
4.000%,
6/15/49
12/29
at
100.00
AA+  
9,602,385
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
96
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
3,965
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
DD-1,
4.000%,
6/15/50
6/30
at
100.00
AA+  
$
3,897,436
2,035
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
EE,
4.000%,
6/15/42
6/30
at
100.00
AA+  
2,038,459
5,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
GG-1,
4.000%,
6/15/50
6/30
at
100.00
AA+  
4,914,800
8,530
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2021
Series
AA-1,
4.000%,
6/15/50
12/30
at
100.00
AA+  
8,384,649
10,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2022
Series
AA-1,
4.000%,
6/15/51
6/31
at
100.00
AA+  
9,812,100
5,000
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
2019
Subseries
S-1,
5.000%,
7/15/43
7/28
at
100.00
AA  
5,334,100
4,440
New
York
City
Transitional
Finance
Authority,
New
York,
Building
Aid
Revenue
Bonds,
Fiscal
Series
2016S-1,
5.000%,
7/15/34
1/26
at
100.00
AA  
4,686,820
10,000
New
York
City,
New
York,
Educational
Construction
Fund
Revenue
Bonds,
Series
2021B,
5.000%,
4/01/46
4/31
at
100.00
AA-  
10,716,400
5,750
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2018
Series
E-1,
5.000%,
3/01/40
3/28
at
100.00
AA  
6,156,352
1,500
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
C,
4.000%,
8/01/36
8/30
at
100.00
AA  
1,554,375
2,860
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2022
Series
A-1,
5.000%,
8/01/47
8/31
at
100.00
AA  
3,121,147
45,260
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R  
43,980,047
5,700
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014,
5.150%,
11/15/34,
144A
11/24
at
100.00
N/R  
5,706,498
5,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A,
5.000%,
1/01/46
1/26
at
100.00
A-  
5,130,900
8,265
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020C,
5.000%,
3/15/47
9/30
at
100.00
Aa1  
8,966,451
12,100
New
York
Transportation
Development
Corporation,
New
York,
Facility
Revenue
Bonds,
Thruway
Service
Areas
Project,
Series
2021,
4.000%,
4/30/53,
(AMT)
10/31
at
100.00
BBB-  
10,262,615
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A:
24,150
5.000%,
7/01/46,
(AMT)
7/24
at
100.00
Baa2  
23,994,474
56,360
5.250%,
1/01/50,
(AMT)
7/24
at
100.00
Baa2  
56,428,196
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016:
2,100
5.000%,
8/01/26,
(AMT)
5/23
at
100.00
B-  
2,101,512
28,700
5.000%,
8/01/31,
(AMT)
5/23
at
100.00
B-  
28,735,014
4,175
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
5.250%,
8/01/31,
(AMT)
8/30
at
100.00
B-  
4,315,113
97
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
5,350
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
5.000%,
1/01/31,
(AMT)
1/28
at
100.00
BB+  
$
5,610,973
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020:
1,000
4.000%,
10/01/30,
(AMT)
No
Opt.
Call
BB+  
986,080
2,100
5.000%,
10/01/40,
(AMT)
10/30
at
100.00
BB+  
2,155,671
10,325
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
One
Hundred
Ninety-Eighth
Series
2016,
5.250%,
11/15/56
11/26
at
100.00
AA-  
10,814,405
14,500
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2,
0.000%,
6/01/66
6/31
at
27.72
N/R  
1,621,825
2,320
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
Series
2015B,
5.000%,
11/15/45
11/25
at
100.00
AA-  
2,399,646
30,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
4.500%,
5/15/63,
(UB)
(6)
5/33
at
100.00
AA+  
29,941,500
2,150
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006,
5.000%,
6/01/48
6/27
at
100.00
N/R  
1,993,545
5,696
Westchester
County
Health
Care
Corporation,
New
York,
Senior
Lien
Revenue
Bonds,
Series
2014A,
5.000%,
11/01/44
5/24
at
101.00
BBB-  
5,637,328
Total
New
York
410,131,100
North
Carolina
-
0.4%
(0.2%
of
Total
Investments)
4,500
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Obligated
Group,
Series
2019A,
4.000%,
11/01/52
11/29
at
100.00
AA-  
4,373,100
5,000
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Senior
Lien
Series
2019,
5.000%,
1/01/49
1/30
at
100.00
BBB  
5,167,050
Total
North
Carolina
9,540,150
North
Dakota
-
2.0%
(1.2%
of
Total
Investments)
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021:
2,000
3.000%,
12/01/39
-
AGM
Insured
12/31
at
100.00
BBB-  
1,669,720
1,075
4.000%,
12/01/46
12/31
at
100.00
BBB-  
907,676
1,750
3.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
BBB-  
1,298,430
1,425
4.000%,
12/01/51
12/31
at
100.00
BBB-  
1,169,526
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C:
10,315
5.000%,
6/01/43
6/28
at
100.00
BB+  
8,830,156
6,500
5.000%,
6/01/48
6/28
at
100.00
BB+  
5,344,755
42,290
5.000%,
6/01/53
6/28
at
100.00
BB+  
33,625,202
Total
North
Dakota
52,845,465
Ohio
-
10.3%
(6.3%
of
Total
Investments)
725
Allen
County
Port
Authority
Economic
Development,
Ohio,
Revenue
Bonds,  University
of
Northwestern,
Refunding
Series
2021A,
4.000%,
12/01/40
6/31
at
100.00
BBB-  
647,882
1,430
American
Municipal
Power
Inc.,
Ohio,
Combined
Hydroelectric
Projects
Revenue
Bonds,
Green
Series
2016A,
5.000%,
2/15/46
2/26
at
100.00
A-  
1,458,786
2,420
Ashland
County-West
Holmes
Joint
Vocational
School
District,
General
Obligation
Bonds,
Limited
Tax
School
Facilities
Construction
&
Improvement
Series
2022,
4.000%,
12/01/46
12/29
at
100.00
Aa2  
2,366,518
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
98
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
28,980
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R  
$
3,545,993
9,615
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2,
5.000%,
6/01/55
6/30
at
100.00
N/R  
8,975,699
3,250
Chillicothe,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Adena
Health
System
Obligated
Group
Project,
Refunding
&
Improvement
Series
2017,
5.000%,
12/01/37
12/27
at
100.00
A-  
3,370,380
2,500
Clark-Shawnee
Local
School
District,
Clark
County,
Ohio,
General
Obligation
Bonds,
School
Facilities
Construction
&
Improvement
Series
2017,
5.000%,
11/01/54
11/27
at
100.00
AA  
2,638,175
6,500
Cleveland
Clinic
Health
System
Obligated
Group,
Ohio,
Martin
County
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Series
2019B,
4.000%,
1/01/46
1/29
at
100.00
AA  
6,378,970
3,000
Cleveland,
Ohio,
Income
Tax
Revenue
Bonds,
Public
Facilities
Improvements,
Series
2014A-1,
5.000%,
11/15/38,
(Pre-refunded
11/15/23)
11/23
at
100.00
A1  (4)
3,029,460
1,565
Cleveland,
Ohio,
Public
Power
System
Revenue
Bonds,
Series
2008B-1,
0.000%,
11/15/33
-
NPFG
Insured
No
Opt.
Call
A-  
1,081,916
Cleveland,
Ohio,
Public
Power
System
Revenue
Bonds,
Series
2008B-2:
2,000
0.000%,
11/15/28
-
NPFG
Insured
No
Opt.
Call
A-  
1,679,160
6,895
0.000%,
11/15/32
-
NPFG
Insured
No
Opt.
Call
A-  
4,967,848
2,155
0.000%,
11/15/34
-
NPFG
Insured
No
Opt.
Call
A-  
1,419,412
Columbus
City
School
District,
Franklin
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2006:
4,310
0.000%,
12/01/27
-
AGM
Insured
No
Opt.
Call
AA  
3,753,795
5,835
0.000%,
12/01/28
-
AGM
Insured
No
Opt.
Call
AA  
4,935,943
500
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-
1,
5.000%,
12/01/51
6/29
at
100.00
N/R  
491,000
860
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Easton
Project,
Series
2020,
5.000%,
6/01/28,
144A
No
Opt.
Call
N/R  
861,058
2,400
Fairfield
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Fairfield
Medical
Center
Project,
Series
2013,
5.000%,
6/15/43
6/23
at
100.00
Ba3  
2,144,856
Franklin
County
Convention
Facilities
Authority,
Ohio,
Hotel
Project
Revenue
Bonds,
Greater
Columbus
Convention
Center
Hotel
Expansion
Project,
Series
2019:
1,010
5.000%,
12/01/34
12/29
at
100.00
BBB-  
997,092
1,000
5.000%,
12/01/44
12/29
at
100.00
BBB-  
951,910
4,780
5.000%,
12/01/51
12/29
at
100.00
BBB-  
4,474,463
10,000
Franklin
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
OhioHealth
Corporation,
Series
2015,
5.000%,
5/15/40,
(UB)
(6)
5/25
at
100.00
Aa2  
10,203,300
1,730
Franklin
County,
Ohio,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017OH,
5.000%,
12/01/46
6/27
at
100.00
AA-  
1,767,212
12,000
Franklin
County,
Ohio,
Sales
Tax
Revenue
Bonds,
Various
Purpose
Series
2018,
5.000%,
6/01/43
6/28
at
100.00
AAA  
12,802,200
1,540
Gallia
County
Local
School
District,
Gallia
and
Jackson
Counties,
Ohio,
General
Obligation
Bonds,
Refunding
School
Improvement
Series
2014,
5.000%,
11/01/31,
(Pre-refunded
11/01/24)
11/24
at
100.00
Aa2  (4)
1,584,521
5,565
Hamilton
County,
Ohio,
Sales
Tax
Bonds,
Subordinate
Series
2000B,
0.000%,
12/01/28
-
AGM
Insured
No
Opt.
Call
Aa3  
4,676,603
99
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
505
Lorain
County
Community
College
District,
Ohio,
General
Receipts
Revenue
Bonds,
Refunding
Series
2017,
5.000%,
12/01/34
6/27
at
100.00
Aa2  
$
536,931
1,000
Mahoning
County,
Ohio,
Sewer
System
Revenue
Bonds,
Refunding
and
Improvement
Series
2022,
5.000%,
12/01/42
12/31
at
100.00
Aa3  
1,088,530
4,375
Miami
University
of
Ohio,
General
Receipts
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
9/01/33
9/24
at
100.00
Aa3  
4,459,919
2,875
Miami
University
of
Ohio,
General
Receipts
Revenue
Bonds,
Refunding
Series
2020A,
4.000%,
9/01/45
9/30
at
100.00
Aa3  
2,810,744
4,500
Middletown
City
School
District,
Butler
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2007,
5.250%,
12/01/31
-
AGM
Insured
No
Opt.
Call
A1  
5,266,215
6,105
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013,
5.000%,
2/15/44
5/23
at
100.00
Ba2  
5,431,863
1,600
Northeast
Ohio
Regional
Sewer
District,
Wastewater
Improvement
Revenue
Bonds,
Refunding
&
Improvement
Series
2017,
4.000%,
11/15/43
5/28
at
100.00
AA+  
1,605,072
2,845
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
3.375%,
8/01/29,
(Mandatory
Put
9/15/21)
No
Opt.
Call
BBB-  
2,590,572
8,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.750%,
12/01/23
(5)
No
Opt.
Call
N/R  
80
1,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32
(5)
No
Opt.
Call
N/R  
10
Ohio
Higher
Educational
Facility
Commission,
Higher
Educational
Facility
Revenue
Bonds,
John
Carroll
University
2022
Project,
Series
2022:
1,250
4.000%,
10/01/42
10/31
at
100.00
Baa1  
1,114,137
1,250
4.000%,
10/01/47
10/31
at
100.00
Baa1  
1,069,450
725
Ohio
Higher
Educational
Facility
Commission,
Revenue
Bonds,
Otterbein
University
2022
Project,
Series
2022A,
4.000%,
12/01/46
12/31
at
100.00
Baa1  
631,859
950
Ohio
Municipal
Electric
Generation
Agency,
Beneficial
Interest
Certificates,
Belleville
Hydroelectric
Project
-
Joint
Venture
5,
Series
2001,
0.000%,
2/15/29
-
NPFG
Insured
No
Opt.
Call
A  
788,870
7,045
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Series
2021A,
4.000%,
1/15/46
7/31
at
100.00
A  
6,559,177
4,250
Ohio
State,
Private
Activity
Bonds,
Portsmouth
Gateway
Group,
LLC
-
Borrower,
Portsmouth
Bypass
Project,
Series
2015,
5.000%,
6/30/53,
(AMT)
6/25
at
100.00
A3  
4,190,755
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructure
Commission
Infrastructure
Projects,
Junior
Lien,
Capital
Appreciation
Series
2013A-2:
5,000
0.000%,
2/15/37
No
Opt.
Call
A+  
2,874,400
11,260
0.000%,
2/15/38
No
Opt.
Call
A+  
6,104,834
5,000
0.000%,
2/15/40
No
Opt.
Call
A+  
2,412,100
15,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructure
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A,
5.000%,
2/15/46
2/28
at
100.00
A+  
15,842,550
3,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32
(5)
No
Opt.
Call
N/R  
30
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
100
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
27,880
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
$
27,013,490
22,820
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010B,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
22,110,754
3,200
Ohio
Water
Development
Authority,
Revenue
Bonds,
Fresh
Water
Development,
Series
2019,
5.000%,
12/01/38
12/29
at
100.00
AAA  
3,568,736
3,945
Ohio
Water
Development
Authority,
Revenue
Bonds,
Fresh
Water
Development,
Series
2021,
5.000%,
6/01/46
12/31
at
100.00
AAA  
4,378,082
1,500
Ohio
Water
Development
Authority,
Water
Pollution
Control
Loan
Fund
Revenue
Bonds,
Kestrel
Verifiers,
Green
Series
2021A,
5.000%,
12/01/46
12/31
at
100.00
AAA  
1,664,670
3,500
Ohio
Water
Development
Authority,
Water
Pollution
Control
Loan
Fund
Revenue
Bonds,
Series
2020A,
5.000%,
12/01/50
6/30
at
100.00
AAA  
3,807,265
1,250
Pickaway
County,
Ohio,
Sales
Tax
Specia
Obligation
Bonds,
Series
2019,
5.000%,
12/01/48
12/28
at
100.00
AA  
1,327,525
4,250
Pickerington
Local
School
District,
Fairfield
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
School
Facilities
Construction
&
Improvement,
Series
2023,
5.250%,
12/01/59
12/32
at
100.00
Aa2  
4,726,255
1,845
Pinnacle
Community
Infrastructure
Financing
Authority,
Grove
City,
Ohio,
Community
Facilities
Bonds,
Series
2015A,
4.250%,
12/01/36
-
AGM
Insured
12/25
at
100.00
AA  
1,885,295
520
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Public
Improvement
TOT
Revenue
Bonds,
Series
2021,
4.250%,
12/01/50,
144A
12/28
at
100.00
N/R  
399,157
395
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Development
TIF
Revenue
Bonds,
RBM
Development
-
Phase
2B
Project,
Series
2018A,
6.000%,
12/01/50
12/28
at
100.00
N/R  
364,707
1,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A,
5.000%,
11/01/51
11/30
at
100.00
N/R  
789,75
0
1,900
Ross
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Adena
Health
System
Obligated
Group
Project,
Refunding
&
Improvement
Series
2019,
5.000%,
12/01/49
12/29
at
100.00
A-  
1,936,746
4,000
Southwest
Local
School
District,
Hamilton
and
Butler
Counties,
Ohio,
General
Obligation
Bonds,
School
Improvement
Series
2018A,
4.000%,
1/15/55
1/28
at
100.00
Aa2  
3,815,520
1,500
Springboro
Community
City
School
District,
Warren
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2007,
5.250%,
12/01/32
No
Opt.
Call
Aa3  
1,789,335
750
Springboro,
Ohio,
General
Obligation
Bonds,
Golf
Course
Limited
Tax
Refunding
Series
2022,
5.000%,
12/01/41
12/30
at
100.00
N/R  
829,155
1,000
Summit
County,
Ohio,
General
Obligation
Bonds,
Various
Purpose
Improvement
Series
2022,
5.000%,
12/01/43
6/32
at
100.00
N/R  
1,115,820
Toledo,
Ohio,
Sewerage
System
Revenue
Bonds,
Refunding
Series
2013:
820
5.000%,
11/15/25
11/23
at
100.00
A+  
827,872
605
5.000%,
11/15/26
11/23
at
100.00
A+  
610,808
1,075
5.000%,
11/15/27
11/23
at
100.00
A+  
1,085,320
695
5.000%,
11/15/28
11/23
at
100.00
A+  
701,408
10,000
Toledo,
Ohio,
Water
System
Revenue
Bonds,
Refunding
&
Improvement
Series
2016,
5.000%,
11/15/41
11/26
at
100.00
AA-  
10,520,500
101
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
1,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015,
6.000%,
3/01/45
3/25
at
100.00
N/R  
$
998,690
3,590
Upper
Arlington,
Ohio,
Special
Obligation
Nontax
Revenue
Bonds,
Kingsdale
Mixed-Use
Development
Series
2022A,
5.000%,
12/01/46
12/29
at
100.00
Aa1  
3,804,933
1,100
Wadsworth
City
School
District,
Medina
County,
Ohio,
General
Obligation
Bonds,
School
Improvement
Series
2021,
4.000%,
12/01/51
12/26
at
100.00
N/R  
1,055,120
1,695
Wayne
County
Public
Library,
Ohio,
Special
Obligation,
-
Library
Facilities
Notes,
Series
2022,
5.000%,
12/01/47
12/29
at
100.00
N/R  
1,829,363
2,450
Westerville
City
School
District,
Franklin
and
Delaware
Counties,
Ohio,
Certificates
of
Participation,
School
Facilities
Project,
Series
2018,
5.000%,
12/01/39
12/27
at
100.00
Aa2  
2,607,486
5,000
Worthington
City
School
District,
Franklin
County,
Ohio,
General
Obligation
Bonds,
Facilities
Series
2023,
5.500%,
12/01/54
12/32
at
100.00
AA+  
5,720,050
Youngstown
State
University,
Ohio,
General
Receipts
Bonds,
Series
2017:
1,555
5.000%,
12/15/29
12/26
at
100.00
A2  
1,681,701
1,670
5.000%,
12/15/30
12/26
at
100.00
A2  
1,805,454
Total
Ohio
271,353,217
Oklahoma
-
2.2%
(1.4%
of
Total
Investments)
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B:
12,690
5.250%,
8/15/43
8/28
at
100.00
BB-  
12,081,007
9,715
5.250%,
8/15/48
8/28
at
100.00
BB-  
9,001,336
18,235
5.500%,
8/15/52
8/28
at
100.00
BB-  
17,156,947
16,570
5.500%,
8/15/57
8/28
at
100.00
BB-  
15,300,904
1,550
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022,
5.500%,
8/15/41
8/32
at
100.00
N/R  
1,510,134
2,055
Tulsa
Airports
Improvement
Trust,
Oklahoma,
General
Airport
Revenue
Bonds,
Series
2013A,
5.375%,
6/01/33,
(Pre-refunded
6/01/23),
(AMT)
6/23
at
100.00
A3  (4)
2,057,774
1,500
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2015,
5.000%,
6/01/35,
(AMT),
(Mandatory
Put
6/01/25)
6/25
at
100.00
B-  
1,512,015
Total
Oklahoma
58,620,117
Oregon
-
0.3%
(0.2%
of
Total
Investments)
7,330
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Series
2020-27A,
5.000%,
7/01/45,
(AMT)
7/30
at
100.00
AA-  
7,639,399
1,150
Warm
Springs
Reservation
Confederated
Tribes,
Oregon,
Hydroelectric
Revenue
Bonds,
Tribal
Economic
Development
Bond
Pelton
Round
Butte
Project,
Taxable
Refunding
Green
Series
2019B,
5.000%,
11/01/36,
144A
5/29
at
100.00
A3  
1,262,194
Total
Oregon
8,901,593
Pennsylvania
-
5.5%
(3.4%
of
Total
Investments)
380
Allegheny
Country
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
5/23
at
100.00
B1  
381,703
1,355
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Refunding
Project,
Series
2017,
5.000%,
5/01/42,
144A
5/27
at
100.00
Ba3  
1,327,656
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
102
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
11,700
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
4.375%,
1/01/35,
(Mandatory
Put
7/01/33)
No
Opt.
Call
BBB-  
$
11,694,618
34,785
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35
(5)
No
Opt.
Call
N/R  
348
2,030
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-  
1,506,605
Berks
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Tower
Health
Project,
Series
2017:
16,975
5.000%,
11/01/47
11/27
at
100.00
B  
9,930,375
6,695
5.000%,
11/01/50
11/27
at
100.00
B  
3,808,116
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018:
4,000
5.000%,
6/01/32,
(UB)
(6)
6/28
at
100.00
A  
4,343,040
2,260
5.000%,
6/01/33,
(UB)
(6)
6/28
at
100.00
A  
2,450,360
2,405
5.000%,
6/01/34
(6)
6/28
at
100.00
A  
2,599,540
1,275
5.000%,
6/01/34,
(UB)
(6)
6/28
at
100.00
A  
1,378,135
Cumberland
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2015:
1,030
5.000%,
1/01/38
1/25
at
100.00
BBB+  
1,032,853
205
5.000%,
1/01/38,
(Pre-refunded
1/01/25)
1/25
at
100.00
N/R  (4)
211,765
845
5.000%,
1/01/38,
(Pre-refunded
1/01/25)
1/25
at
100.00
N/R  (4)
872,885
15,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-1,
4.000%,
2/15/47
2/27
at
100.00
A2  
14,153,400
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2020A:
8,710
4.000%,
4/01/39
4/30
at
100.00
A2  
8,608,267
5,085
4.000%,
4/01/50
4/30
at
100.00
A2  
4,732,050
5,000
5.000%,
4/01/50
4/30
at
100.00
A2  
5,139,600
15,220
Lehigh
County
General
Purpose
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Lehigh
Valley
Health
Network,
Series
2019A,
5.000%,
7/01/44,
(UB)
(6)
7/29
at
100.00
A2  
15,625,461
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Albert
Einstein
Healthcare
Network
Issue,
Series
2015A:
6,190
5.250%,
1/15/36,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R  (4)
6,413,954
3,535
5.250%,
1/15/45,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R  (4)
3,662,897
2,205
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Series
2013A0
&
AE2,
0.900%,
12/31/23
5/23
at
100.00
N/R  
397,030
1,026
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Taxable
Series
2013B,
0.900%,
12/31/23
,
(cash
5.000%,
PIK
5.000%)
No
Opt.
Call
N/R  
184,661
24,890
Pennsylvania
Economic
Development
Financing
Authority,
5.000%,
12/31/57,
(AMT),
(UB)
(6)
12/32
at
100.00
A1  
26,044,896
4,135
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company,
Refunding
Series
2014,
5.500%,
11/01/44,
(AMT)
11/24
at
100.00
N/R  
4,153,814
11,750
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Refunding
Bonds,
PPL
Energy
Supply,
LLC
Project,
Series
2009A,
6.400%,
12/01/38
(5)
9/25
at
100.00
N/R  
3,760,000
103
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
130
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
Properties
Inc.
Student
Housing
Project
at
East
Stroudsburg
University
of
Pennsylvania,
Series
2016A,
5.000%,
7/01/31
7/26
at
100.00
Baa3  
$
130,255
1,000
Pennsylvania
Public
School
Building
Authority,
Lease
Revenue
Bonds,
School
District
of
Philadelphia,
Series
2006B,
5.000%,
6/01/27
-
AGM
Insured
No
Opt.
Call
A1  
1,086,700
3,530
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Capital
Appreciation
Series
2009E,
6.000%,
12/01/30
12/27
at
100.00
A3  
4,031,154
4,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
University
of
the
Sciences
in
Philadelphia,
Series
2017,
5.000%,
11/01/47
5/27
at
100.00
N/R  
4,054,280
1,100
The
Redevelopment
Authority
of
the
City
of
Scranton,
Lackawanna
county,
Pennsylvania,
Guaranteed
Lease
Revenue
Bonds,
Series
2016A,
5.000%,
11/15/28
5/24
at
100.00
BB+  
1,085,348
Total
Pennsylvania
144,801,766
Puerto
Rico
-
6.7%
(4.1%
of
Total
Investments)
75,000
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2008A,
0.000%,
5/15/57
5/23
at
7.88
N/R  
5,143,500
1,805
Cofina
Class
2
Trust
Tax-Exempt
Class
2054,
Puerto
Rico.
Unit
Exchanged
From
Cusip
74529JAP0,
0.000%,
8/01/54
No
Opt.
Call
N/R  
368,829
1,000
FN
HTA
TRRB-2007N-
745190ZS0
ASSUR
CUSTODIAL
TR
CTFS,
5.250%,
7/01/36
5/23
at
100.00
N/R  
1,007,870
1,595
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Forward
Delivery
Series
2022A,
5.000%,
7/01/37,
144A
7/32
at
100.00
N/R  
1,578,938
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A:
16,000
5.000%,
7/01/35,
144A
7/30
at
100.00
N/R  
15,998,880
5,255
5.000%,
7/01/47,
144A
7/30
at
100.00
N/R  
5,075,910
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B:
8,180
5.000%,
7/01/33,
144A
7/31
at
100.00
N/R  
8,206,585
2,745
5.000%,
7/01/37,
144A
7/31
at
100.00
N/R  
2,717,358
5,785
4.000%,
7/01/42,
144A
7/31
at
100.00
N/R  
4,917,481
92
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/62
7/32
at
100.00
N/R  
89,025
60
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022B,
0.000%,
7/01/32
No
Opt.
Call
N/R  
37,664
102
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022C,
5.000%,
7/01/53
1/33
at
100.00
N/R  
61,229
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
6,055
4.500%,
7/01/34
7/25
at
100.00
N/R  
6,072,196
4,642
4.550%,
7/01/40
7/28
at
100.00
N/R  
4,445,736
46,230
0.000%,
7/01/51
7/28
at
30.01
N/R  
9,448,950
103,619
5.000%,
7/01/58
7/28
at
100.00
N/R  
99,295,087
1,780
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2019A-2A,
4.550%,
7/01/40
7/28
at
100.00
N/R  
1,704,742
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2:
2,000
4.329%,
7/01/40
7/28
at
100.00
N/R  
1,864,600
493
4.536%,
7/01/53
7/28
at
100.00
N/R  
446,170
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
104
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
$
587
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022,
0.000%,
11/01/51
No
Opt.
Call
N/R  
$
277,446
8,008
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1,
4.000%,
7/01/41
7/31
at
103.00
N/R  
6,744,621
Total
Puerto
Rico
175,502,817
Rhode
Island
-
0.1%
(0.1%
of
Total
Investments)
21,570
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A,
0.000%,
6/01/52
5/23
at
17.96
CCC-  
3,561,854
Total
Rhode
Island
3,561,854
South
Carolina
-
3.2%
(2.0%
of
Total
Investments)
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2:
21,570
0.000%,
1/01/30
-
AMBAC
Insured
No
Opt.
Call
A-  
17,394,911
5,560
0.000%,
1/01/31
-
AGC
Insured
No
Opt.
Call
A-  
4,374,107
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Prisma
Health
Obligated
Group,
Series
2018A:
9,985
5.000%,
5/01/43,
(UB)
5/28
at
100.00
A3  
10,224,241
8,560
5.000%,
5/01/48,
(UB)
5/28
at
100.00
A3  
8,697,131
10,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2015A,
5.000%,
12/01/50
6/25
at
100.00
A-  
10,047,600
7,500
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B,
5.000%,
12/01/46,
(UB)
(6)
12/26
at
100.00
A-  
7,581,150
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A:
5,970
4.000%,
12/01/43
6/32
at
100.00
A-  
5,672,216
10,295
5.000%,
12/01/55
6/32
at
100.00
A-  
10,467,030
9,155
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Series
2014A,
5.500%,
12/01/54
6/24
at
100.00
A-  
9,223,113
Total
South
Carolina
83,681,499
South
Dakota
-
0.2%
(0.1%
of
Total
Investments)
4,455
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2015,
5.000%,
11/01/45
11/25
at
100.00
A+  
4,514,608
Total
South
Dakota
4,514,608
Tennessee
-
0.5%
(0.3%
of
Total
Investments)
1,000
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A,
5.125%,
12/01/42,
144A
12/26
at
100.00
N/R  
911,750
4,000
Chattanooga
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1,
4.000%,
8/01/44
8/29
at
100.00
Baa1  
3,765,080
2,395
Chattanooga-Hamilton
County
Hospital
Authority,
Tennessee,
Hospital
Revenue
Bonds,
Erlanger
Health
System,
Refunding
Series
2014A,
5.000%,
10/01/44
10/24
at
100.00
Baa2  
2,402,041
5,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Revenue
Bonds,
Subordinate
Series
2019B,
5.000%,
7/01/54,
(AMT)
7/30
at
100.00
A2  
5,154,300
155
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006C,
5.000%,
2/01/24
No
Opt.
Call
Baa2  
155,160
Total
Tennessee
12,388,331
105
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
-
8.6%
(5.3%
of
Total
Investments)
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education,
Series
2016A:
$
165
5.000%,
12/01/36
12/26
at
100.00
BBB-  
$
167,533
130
5.000%,
12/01/46
12/26
at
100.00
BBB-  
130,175
760
5.000%,
12/01/51
12/26
at
100.00
BBB-  
753,897
870
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phase
1
Project,
Series
2015,
7.250%,
9/01/45
9/23
at
103.00
N/R  
899,615
730
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phases
2-3
Major
Improvements
Project,
Series
2015,
8.250%,
9/01/40
9/23
at
103.00
N/R  
754,535
Board
of
Managers,
Joint
Guadalupe
County-Seguin
City
Hospital,
Texas,
Hospital
Mortgage
Revenue
Bonds,
Refunding
&
Improvement
Series
2015:
3,135
5.250%,
12/01/35
12/25
at
100.00
BB  
3,151,051
3,340
5.000%,
12/01/40
12/25
at
100.00
BB  
3,193,040
980
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Area
1
Project,
Series
2015,
7.250%,
9/01/45
9/23
at
103.00
N/R  
1,010,223
1,735
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Areas
2-5
Major
Improvement
Project,
Series
2015,
8.250%,
9/01/40
9/23
at
103.00
N/R  
1,793,383
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A:
2,000
5.000%,
1/01/40,
(Pre-refunded
7/01/25)
7/25
at
100.00
A-  (4)
2,086,680
3,625
5.000%,
1/01/45,
(Pre-refunded
7/01/25)
7/25
at
100.00
A-  (4)
3,782,107
Club
Municipal
Management
District
1,
Texas,
Special
Assessment
Revenue
Bonds,
Improvement
Area
1
Project,
Series
2016:
515
6.250%,
9/01/35
9/23
at
103.00
N/R  
532,042
490
6.500%,
9/01/46
9/23
at
103.00
N/R  
506,160
1,000
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012A.
RMKT,
4.750%,
5/01/38
5/23
at
100.00
Baa2  
982,800
150
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B,
4.750%,
11/01/42
5/23
at
100.00
Baa2  
146,795
2,335
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
First
Tier
Series
2013A,
5.125%,
10/01/43
10/23
at
100.00
BBB+  
2,341,491
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2013B:
17,000
5.250%,
10/01/51,
(Pre-refunded
10/01/23)
10/23
at
100.00
N/R  (4)
17,141,780
1,140
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0228,
11.750%,
11/01/44,
(Pre-refunded
10/01/23),
144A,
(IF)
(6)
10/23
at
100.00
N/R  (4)
1,173,413
10,000
Gulf
Coast
Industrial
Development
Authority,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Citgo
Petroleum
Corporation
Project,
Series
1998,
8.000%,
4/01/28,
(AMT)
5/23
at
100.00
B3  
10,008,000
3,480
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015,
5.000%,
12/01/45
6/25
at
100.00
AA  
3,548,834
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A:
295
0.000%,
11/15/41
-
AGM
Insured
11/31
at
62.66
A1  
124,558
590
0.000%,
11/15/42
-
AGM
Insured
11/31
at
59.73
A1  
236,177
1,000
0.000%,
11/15/43
-
AGM
Insured
11/31
at
56.93
A1  
379,830
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
106
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
2,000
0.000%,
11/15/44
-
AGM
Insured
11/31
at
54.25
A1  
$
718,720
2,600
0.000%,
11/15/45
-
AGM
Insured
11/31
at
51.48
A1  
883,376
4,180
0.000%,
11/15/53
-
AGM
Insured
11/31
at
33.96
A1  
922,317
6,170
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
0.000%,
11/15/37
-
NPFG
Insured
11/31
at
69.08
BB+  
2,862,140
4,565
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Third
Lien
Series
2004A-3,
0.000%,
11/15/35
-
NPFG
Insured
11/24
at
52.47
BB  
2,237,672
40,500
Harris
County-Houston
Sports
Authority,
Texas,
Special
Revenue
Bonds,
Refunding
Senior
Lien
Series
2001A,
0.000%,
11/15/40
-
NPFG
Insured
11/30
at
54.04
A1  
15,512,715
2,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines
Inc.
Terminal
Improvement
Project,
Refunding
Series
2015B-1,
5.000%,
7/15/35,
(AMT)
7/25
at
100.00
BB-  
1,998,740
235
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2014,
5.000%,
7/01/29,
(AMT)
7/24
at
100.00
BB-  
235,736
2,845
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2020A,
5.000%,
7/01/27,
(AMT)
No
Opt.
Call
B-  
2,874,019
3,750
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Refunding
Series
2020B-2,
5.000%,
7/15/27,
(AMT)
No
Opt.
Call
B-  
3,788,925
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B:
28,305
0.000%,
9/01/28
-
AMBAC
Insured
No
Opt.
Call
A  
23,530,229
5,000
0.000%,
9/01/30
-
AMBAC
Insured
No
Opt.
Call
A  
3,862,000
5,765
0.000%,
9/01/31
-
AMBAC
Insured
No
Opt.
Call
A  
4,279,302
6,000
Houston,
Texas,
Water
and
Sewerage
System
Revenue
Bonds,
Refunding
Junior
Lien
Series
2001B,
5.500%,
12/01/29
-
NPFG
Insured,
(ETM)
No
Opt.
Call
AA+  (4)
6,756,720
7,500
Houston,
Texas,
Water
and
Sewerage
System
Revenue
Bonds,
Refunding
Junior
Lien
Series
2002A,
5.750%,
12/01/32
-
AGM
Insured,
(ETM)
No
Opt.
Call
A1  (4)
9,625,500
720
Kerrville
Health
Facilities
Development
Corporation,
Texas,
Revenue
Bonds,
Sid
Peterson
Memorial
Hospital
Project,
Series
2015,
5.000%,
8/15/35
8/25
at
100.00
A-  
740,930
2,750
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2015,
5.000%,
5/15/40
5/25
at
100.00
A  
2,823,260
2,505
Matagorda
County
Navigation
District
1,
Texas,
Collateralized
Revenue
Refunding
Bonds,
Houston
Light
and
Power
Company,
Series
1997,
5.125%,
11/01/28
-
AMBAC
Insured,
(AMT)
No
Opt.
Call
A  
2,675,190
8,630
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
4.625%,
10/01/31,
(AMT),
144A
5/23
at
104.00
BB-  
8,432,718
15,329
Mission
Economic
Development
Corporation,
Texas,
Water
Supply
Revenue
Bonds,
Enviro
Water
Minerals
Project,
Green
Bonds,
Series
2015,
7.750%,
1/01/45,
(AMT),
144A
2045
2045
(5)
1/26
at
102.00
N/R  
306,574
150
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Corpus
Christi
II,
L.L.C.-Texas
A&M
University-Corpus
Christi
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R  (4)
158,928
107
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
825
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project,  Series
2015A,
5.000%,
7/01/47
(5)
7/25
at
100.00
Caa2  
$
701,250
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C:
6,330
0.000%,
9/01/43,
(Pre-refunded
9/01/31)
(8)
9/31
at
100.00
N/R  (4)
7,953,582
9,130
6.750%,
9/01/45,
(Pre-refunded
9/01/31)
9/31
at
100.00
N/R  (4)
11,943,501
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Capital
Appreciation
Series
2008I:
2,555
6.200%,
1/01/42,
(Pre-refunded
1/01/25)
-
AGC
Insured
1/25
at
100.00
A1  (4)
2,687,860
7,000
6.500%,
1/01/43,
(Pre-refunded
1/01/25)
1/25
at
100.00
A1  (4)
7,386,120
10,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D,
0.000%,
1/01/28
-
AGC
Insured
No
Opt.
Call
A1  
8,626,600
4,880
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2015B,
5.000%,
1/01/45
1/25
at
100.00
A1  
4,969,499
5,345
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2017A,
5.000%,
1/01/43
1/28
at
100.00
A+  
5,623,528
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier,
Series
2015A:
7,855
5.000%,
1/01/33
1/25
at
100.00
A2  
8,118,221
2,205
5.000%,
1/01/34
1/25
at
100.00
A2  
2,276,288
1,000
5.000%,
1/01/35
1/25
at
100.00
A2  
1,030,750
2,345
5.000%,
1/01/38
1/25
at
100.00
A2  
2,398,841
1,570
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A,
5.000%,
2/01/34
2/24
at
100.00
Ba1  
1,591,493
1,000
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012,
7.250%,
12/15/47
(5)
5/23
at
100.00
N/R  
600,000
5
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2018A,
4.250%,
9/01/48
9/27
at
100.00
AA+  
4,984
1,090
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
I,
Gas
Supply
Revenue
Bonds,
Senior
Lien
Series
2008D,
6.250%,
12/15/26
No
Opt.
Call
A-  
1,138,941
2,000
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3A
&
3B
Facility,
Series
2013,
7.000%,
12/31/38,
(AMT)
9/23
at
100.00
Baa2  
2,019,060
3,600
Texas
Turnpike
Authority,
Central
Texas
Turnpike
System
Revenue
Bonds,
First
Tier
Series
2002A,
0.000%,
8/15/25
-
AMBAC
Insured
No
Opt.
Call
A3  
3,334,536
5,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2017A,
4.000%,
10/15/37
10/27
at
100.00
AAA  
5,093,950
Total
Texas
227,568,834
Utah
-
0.1%
(0.1%
of
Total
Investments)
1,975
Box
Elder
County,
Utah,
Solid
Waste
Disposal
Revenue
Bonds,
Promontory
Point
Res,
LLC,
Senior
Series
2017A,
8.000%,
12/01/39,
(AMT),
144A
12/27
at
100.00
N/R  
1,974,664
1,755
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2021A,
4.000%,
7/01/51
-
AGM
Insured,
(AMT)
7/31
at
100.00
A1  
1,638,679
Total
Utah
3,613,343
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
108
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virginia
-
2.1%
(1.3%
of
Total
Investments)
$
12,000
Chesapeake
Bay
Bridge
and
Tunnel
District,
Virginia,
General
Resolution
Revenue
Bonds,
First
Tier
Series
2016,
5.000%,
7/01/51
(6)
7/26
at
100.00
BBB  
$
12,212,160
22,405
Chesapeake
Bay
Bridge
and
Tunnel
District,
Virginia,
General
Resolution
Revenue
Bonds,
First
Tier
Series
2016,
5.000%,
7/01/51,
(UB)
(6)
7/26
at
100.00
BBB  
22,801,120
540
Embrey
Mill
Community
Development
Authority,
Virginia,
Special
Assessment
Revenue
Bonds,
Series
2015,
5.600%,
3/01/45,
(Pre-
refunded
3/01/25)
3/25
at
100.00
N/R  (4)
564,797
2,000
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1,
5.000%,
6/01/47
5/23
at
100.00
B-  
1,877,460
17,500
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
5.000%,
12/31/56,
(AMT)
6/27
at
100.00
Baa3  
17,274,075
Total
Virginia
54,729,612
Washington
-
3.9%
(2.4%
of
Total
Investments)
940
Central
Puget
Sound
Regional
Transit
Authority,
Washington,
Sales
Tax
and
Motor
Vehicle
Excise
Tax
Bonds,
Series
1999,
4.750%,
2/01/28
-
FGIC
Insured
5/23
at
100.00
AA+  
961,329
3,155
Skagit
County
Public
Hospital
District
1,
Washington,
Revenue
Bonds,
Skagit
Valley
Hospital,
Refunding
&
Improvement
Series
2016,
5.000%,
12/01/27
12/26
at
100.00
Baa3  
3,269,905
125
Tacoma
Consolidated
Local
Improvement
District
65,
Washington,
Special
Assessment
Bonds,
Series
2013,
5.750%,
4/01/43
5/23
at
100.00
N/R  
120,847
6,065
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Central
Washington
Health
Services
Association,
Refunding
Series
2015,
4.000%,
7/01/36
7/25
at
100.00
A3  
5,986,822
10,420
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2015A,
5.000%,
8/15/45,
(UB)
(6)
8/25
at
100.00
A+  
10,441,882
10,500
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
MultiCare
Health
System,
Series
2017B,
4.000%,
8/15/41
2/28
at
100.00
A+  
10,003,665
1,760
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Overlake
Hospital
Medical
Center,
Series
2017A,
5.000%,
7/01/42
1/28
at
100.00
BBB+  
1,780,170
10,785
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014C,
5.000%,
10/01/44,
(UB)
(6)
10/24
at
100.00
A+  
10,687,935
21,320
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D,
5.000%,
10/01/38,
(UB)
(6)
10/24
at
100.00
A  
21,326,609
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Cancer
Center
Alliance,
Series
2020:
2,000
4.000%,
9/01/45
9/30
at
100.00
A2  
1,892,880
14,875
5.000%,
9/01/55,
(UB)
(6)
9/30
at
100.00
A2  
15,446,646
8,200
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Children's
Hospital,
Series
2015B,
5.000%,
10/01/38
4/30
at
100.00
Aa2  
8,895,114
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2021B.  Exchange
Purchase:
9,435
4.000%,
7/01/43
7/31
at
100.00
BB+  
8,399,226
1,675
3.000%,
7/01/48
7/31
at
100.00
BB+  
1,157,877
1,410
Washington
State,
Motor
Vehicle
Fuel
Tax
General
Obligation
Bonds,
Series
2003F,
0.000%,
12/01/24
-
NPFG
Insured
No
Opt.
Call
AA+  
1,340,882
Total
Washington
101,711,789
109
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
West
Virginia
-
0.3%
(0.2%
of
Total
Investments)
$
5,160
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Refunding
&
Improvement
Series
2013A,
5.500%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A  (4)
$
5,168,566
3,500
West
Virginia
State,
General
Obligation
Bonds,
State
Road
Competitive
Series
2018B,
4.000%,
6/01/42
6/28
at
100.00
AA-  
3,505,425
Total
West
Virginia
8,673,991
Wisconsin
-
2.9%
(1.8%
of
Total
Investments)
25
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School,
North
Carolina,
Series
2017A,
5.000%,
6/15/37,
144A
6/24
at
100.00
N/R  
23,948
1,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Envision
Science
Academy
Project,
Series
2016A,
5.125%,
5/01/36,
144A
5/26
at
100.00
N/R  
963,700
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A:
5,545
5.000%,
6/15/36,
144A
6/26
at
100.00
N/R  
4,815,167
4,430
5.000%,
6/15/46,
144A
6/26
at
100.00
N/R  
3,405,208
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1:
80
0.000%,
1/01/47,
144A
(5)
No
Opt.
Call
N/R  
1,748
70
0.000%,
1/01/48,
144A
(5)
No
Opt.
Call
N/R  
1,455
69
0.000%,
1/01/49,
144A
(5)
No
Opt.
Call
N/R  
1,356
66
0.000%,
1/01/50,
144A
(5)
No
Opt.
Call
N/R  
1,223
65
0.000%,
1/01/51,
144A
(5)
No
Opt.
Call
N/R  
1,144
85
0.000%,
1/01/52,
144A
(5)
No
Opt.
Call
N/R  
1,387
84
0.000%,
1/01/53,
144A
(5)
No
Opt.
Call
N/R  
1,303
81
0.000%,
1/01/54,
144A
(5)
No
Opt.
Call
N/R  
1,190
79
0.000%,
1/01/55,
144A
(5)
No
Opt.
Call
N/R  
1,105
78
0.000%,
1/01/56,
144A
(5)
No
Opt.
Call
N/R  
1,033
4,225
5.500%,
7/01/56,
144A
(5)
3/28
at
100.00
N/R  
2,370,178
86
0.000%,
1/01/57,
144A
(5)
No
Opt.
Call
N/R  
1,082
84
0.000%,
1/01/58,
144A
(5)
No
Opt.
Call
N/R  
1,000
81
0.000%,
1/01/59,
144A
(5)
No
Opt.
Call
N/R  
929
80
0.000%,
1/01/60,
144A
(5)
No
Opt.
Call
N/R  
857
79
0.000%,
1/01/61,
144A
(5)
No
Opt.
Call
N/R  
798
76
0.000%,
1/01/62,
144A
(5)
No
Opt.
Call
N/R  
736
75
0.000%,
1/01/63,
144A
(5)
No
Opt.
Call
N/R  
686
73
0.000%,
1/01/64,
144A
(5)
No
Opt.
Call
N/R  
640
72
0.000%,
1/01/65,
144A
(5)
No
Opt.
Call
N/R  
593
78
0.000%,
1/01/66,
144A
(5)
No
Opt.
Call
N/R  
593
935
0.000%,
1/01/67,
144A
(5)
No
Opt.
Call
N/R  
6,479
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B:
69
0.000%,
1/01/46,
144A
(5)
No
Opt.
Call
N/R  
1,631
68
0.000%,
1/01/47,
144A
(5)
No
Opt.
Call
N/R  
1,497
68
0.000%,
1/01/48,
144A
(5)
No
Opt.
Call
N/R  
1,415
67
0.000%,
1/01/49,
144A
(5)
No
Opt.
Call
N/R  
1,331
67
0.000%,
1/01/50,
144A
(5)
No
Opt.
Call
N/R  
1,223
73
0.000%,
1/01/51,
144A
(5)
No
Opt.
Call
N/R  
1,275
1,874
1.000%,
7/01/51,
144A
(5)
3/28
at
100.00
N/R  
1,088,574
72
0.000%,
1/01/52,
144A
(5)
No
Opt.
Call
N/R  
1,182
71
0.000%,
1/01/53,
144A
(5)
No
Opt.
Call
N/R  
1,109
71
0.000%,
1/01/54,
144A
(5)
No
Opt.
Call
N/R  
1,041
70
0.000%,
1/01/55,
144A
(5)
No
Opt.
Call
N/R  
974
69
0.000%,
1/01/56,
144A
(5)
No
Opt.
Call
N/R  
917
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
110
NZF
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
68
0.000%,
1/01/57,
144A
(5)
No
Opt.
Call
N/R  
$
861
67
0.000%,
1/01/58,
144A
(5)
No
Opt.
Call
N/R  
805
67
0.000%,
1/01/59,
144A
(5)
No
Opt.
Call
N/R  
763
67
0.000%,
1/01/60,
144A
(5)
No
Opt.
Call
N/R  
713
66
0.000%,
1/01/61,
144A
(5)
No
Opt.
Call
N/R  
664
65
0.000%,
1/01/62,
144A
(5)
No
Opt.
Call
N/R  
625
64
0.000%,
1/01/63,
144A
(5)
No
Opt.
Call
N/R  
586
64
0.000%,
1/01/64,
144A
(5)
No
Opt.
Call
N/R  
556
63
0.000%,
1/01/65,
144A
(5)
No
Opt.
Call
N/R  
519
62
0.000%,
1/01/66,
144A
(5)
No
Opt.
Call
N/R  
474
808
0.000%,
1/01/67,
144A
(5)
No
Opt.
Call
N/R  
5,601
1,200
Public
Finance
Authority
of
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,
Refunding
Series
2016,
4.000%,
8/01/35,
(AMT)
8/26
at
100.00
N/R  
1,052,760
1,690
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
Meadowlands
Project,
Series
2017A,
3.125%,
8/01/27,
144A
(5)
No
Opt.
Call
N/R  
1,290,738
1,350
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
Meadowlands
Project,
Series
2017,
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R  
1,172,529
160
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A,
5.200%,
12/01/37
12/27
at
100.00
BBB  
164,093
2,905
Public
Finance
Authority
of
Wisconsin,
Student
Housing
Revenue
Bonds,
Collegiate
Housing
Foundation
-
Cullowhee
LLC
-
Western
California
University
Project,
Series
2015A,
5.000%,
7/01/35
7/25
at
100.00
BBB-  
2,876,095
1,000
Public
Finance
Authority,
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
Celanese
Project,
Refunding
Series
2016C,
4.300%,
11/01/30
5/26
at
100.00
BBB-  
981,150
1,000
Wisconsin
Center
District,
Dedicated
Tax
Revenue
Bonds,
Refunding
Senior
Series
2003A,
0.000%,
12/15/31
No
Opt.
Call
A1  
735,690
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mercy
Alliance,
Inc.,
Series
2012:
2,105
5.000%,
6/01/32
5/23
at
100.00
A3  
2,105,274
2,500
5.000%,
6/01/39
5/23
at
100.00
A3  
2,453,750
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2016A:
12,650
5.000%,
11/15/39
5/26
at
100.00
Aa2  
13,048,096
13,080
4.000%,
11/15/46
5/26
at
100.00
AA+  
12,341,503
1,120
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Project.
Series
2014,
5.250%,
10/01/39
5/23
at
102.00
N/R  
991,278
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Gundersen
Health
System,
Refunding
Series
2021A:
14,950
3.000%,
10/15/38
10/31
at
100.00
AA-  
12,893,777
5,535
3.000%,
10/15/39
10/31
at
100.00
AA-  
4,686,706
25
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Monroe
Clinic
Inc.,
Refunding
Series
2016,
5.000%,
2/15/28,
(Pre-refunded
8/15/25)
8/25
at
100.00
N/R  (4)
26,172
4,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ProHealth
Care,
Inc.
Obligated
Group,
Refunding
Series
2015,
5.000%,
8/15/39
8/24
at
100.00
A+  
4,041,360
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Rogers
Memorial
Hospital,
Inc.,
Series
2014A:
1,415
5.000%,
7/01/27
7/24
at
100.00
A  
1,444,418
1,310
5.000%,
7/01/29
7/24
at
100.00
A  
1,338,086
111
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Three
Pillars
Senior
Living
Communities,
Refunding
Series
2013:
$
85
5.000%,
8/15/43,
(Pre-refunded
8/15/23)
8/23
at
100.00
N/R  (4)
$
85,417
1,005
5.000%,
8/15/43,
(Pre-refunded
8/15/23)
8/23
at
100.00
N/R  (4)
1,009,935
Total
Wisconsin
77,458,701
Total
Municipal
Bonds
(cost
$4,108,449,125)
4,155,249,272
Shares
Description
(1)
Value
X
117,347,934
COMMON
STOCKS
-
4.5%
(2.8%
of
Total
Investments)
X
117,347,934
Independent
Power
and
Renewable
Electricity
Producers
-
4.5%
(2.8%
of
Total
Investments)
1,512,547
Energy
Harbor
Corp
(10),(11)
$
117,347,934
Total
Independent
Power
and
Renewable
Electricity
Producers
117,347,934
Total
Common
Stocks
(cost
$43,090,879)
117,347,934
Shares
Description
(1)
Value
1,180,551
INVESTMENT
COMPANIES
-
0.0%
(0.0%
of
Total
Investments)
X
1,180,551
6,266
BlackRock
MuniHoldings
Fund
Inc
$
74,002
30,000
Invesco
Municipal
Opportunity
Trust
286,800
43,020
Invesco
Trust
for
Investment
Grade
Municipals
422,456
43,420
PIMCO
Municipal
Income
Fund
II
397,293
Total
Investment
Companies
(cost
$1,569,945)
1,180,551
Principal
Amount
(000)
Description
(1)
Coupon
(12)
Reference
Rate
(12)
Spread
(12)
Maturity
(13)
Ratings
(3)
Value
73,149
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0.0%
(0.0%
of
Total
Investments)
(12)
X
73,149
Hotels,
Restaurants
&
Leisure
-
0.0%
(0.0%
of
Total
Investments)
$
73
Lombard
Starwood
Westin
Hotel
Conference
Center
and
Hotel
Project
Revenue
Bonds
,
(cash
7.500%,
PIK
7.500%)(7),(14)
7.500%
N/A
N/A
12/31/23
N/R
$
73,149
Total
Hotels,
Restaurants
&
Leisure
73,149
Total
Variable
Rate
Senior
Loan
Interests
(cost
$73,149)
73,149
Total
Long-Term
Investments
(cost
$4,153,183,098)
4,273,850,906
Borrowings
-
(2.5)%
(15)
(65,500,000)
Floating
Rate
Obligations
-
(13.3)%
(349,316,000)
MFP
Shares,
Net
-
(24.3)%(16)
(640,101,331)
VRDP
Shares,
Net-
(25.6)%(17)
(673,444,496)
Other
Assets
&
Liabilities,
Net
-   3.4%
87,853,107
Net
Assets
Applicable
to
Common
Shares
-
100%
$
2,633,342,186
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
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.
(4)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(5)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(6)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(7)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(8)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(9)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
Nuveen
Municipal
Credit
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
112
NZF
(10)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2008C,
3.950%,
11/01/32.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not  currently
satisfied).
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-
formed
subsidiary
of
Vistra.  The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023.  In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
Nuveen
expects
these
shares
to
be
issued
in
a
private
transaction
and
may
have
reduced
secondary
market
liquidity.  The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(11)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(12)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
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.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(13)
Senior
loans
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
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(14)
Senior
loan
received
as
part
of
the
bondholder
funding
agreement
during
March
2022
for
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1,
0.000%,
7/01/56,
144A.
(15)
Borrowings
as
a
percentage
of
Total
Investments
is
1.5%.
(16)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
15.0%.
(17)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
15.8%.
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.
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
LIBOR
London
Inter-Bank
Offered
Rate
N/A
Not
Applicable.
PIK
Payment-in-kind
(“PIK”)
security.  Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both.  The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
113
Nuveen
Municipal
High
Income
Opportunity
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
160.0%  
(100.0%
of
Total
Investments) 
X
1,913,010,441
MUNICIPAL
BONDS
-
155.0%
(96.9%
of
Total
Investments)
X
1,913,010,441
Alabama
-
2.1%
(1.3%
of
Total
Investments)
$
182
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Refunding
Taxable
Series
2017C,
1.000%,
9/01/37,
144A
(4)
5/23
at
100.00
N/R  
$
2
1,000
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Series
2017A,
6.750%,
9/01/37,
144A
(4)
9/27
at
100.00
N/R  
700,000
213
Adamsville
Solid
Waste
Disposal
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
Big
Sky
Environmental
LLC
Project,
Taxable
Series
2017B,
6.750%,
9/01/37,
144A
(4)
9/27
at
100.00
N/R  
148,646
2,000
Alabama
Private
Colleges
and
University
Facilities
Authority,
Limited
Obligation
Bonds,
University
of
Mobile
Project,
Series
2015A,
6.000%,
9/01/45,
144A
9/25
at
100.00
N/R  
2,017,500
785
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
6.375%,
11/01/50,
(AMT),
(Mandatory
Put
11/01/30)
No
Opt.
Call
B1  
864,152
10,765
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2019,
5.750%,
10/01/49,
(AMT)
10/29
at
100.00
B1  
10,931,427
5,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Capital
Appreciation
Subordinate
Lien
Series
2013F,
7.900%,
10/01/50
10/23
at
105.00
BB  
5,163,750
1,000
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Senior
Lien
Series
2013C,
6.500%,
10/01/38
-
AGM
Insured
10/23
at
105.00
BB+  
1,031,490
250
MidCity
Improvement
District,
Alabama,
Special
Assessment
Revenue
Bonds,
Series
2022,
4.750%,
11/01/49
11/32
at
100.00
N/R  
196,098
1,985
Mobile
County,
Alabama,
Limited
Obligation
Warrants,
Gomesa
Projects,
Series
2020,
4.000%,
11/01/45,
144A
11/29
at
100.00
N/R  
1,733,282
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A:
265
4.500%,
5/01/32,
144A
2021
2021
5/29
at
100.00
N/R  
242,935
2,950
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R  
2,610,750
Total
Alabama
25,640,032
Arizona
-
4.0%
(2.5%
of
Total
Investments)
460
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
KIPP
Nashville
Project,
Series
2022A,
5.000%,
7/01/62
7/30
at
100.00
BBB  
443,122
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,  Arizona
Christian
University
Project,
Series
2019A:
400
5.500%,
10/01/40,
144A
10/26
at
103.00
N/R  
384,388
800
5.625%,
10/01/49,
144A
10/26
at
103.00
N/R  
749,400
1,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Ball
Charter
Schools
Project,
Series
2022,
4.000%,
7/01/51
7/31
at
100.00
BBB-  
850,640
10,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Series
2021B,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R  
7,327,200
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
114
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
10,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021A,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R  
$
7,499,700
1,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021C,
6.000%,
7/01/29,
144A
No
Opt.
Call
N/R  
931,420
5,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy
of
Nevada
?
Sloan
Canyon
Campus
Project,
Series
2020A-2,
6.150%,
9/15/53,
144A
9/23
at
105.00
BB+  
5,165,300
2,765
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
?
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1,
4.150%,
12/01/57,
144A
12/31
at
100.00
BB  
2,117,133
2,590
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
?
Falcon
Properties
LLC,
Project,
Subordinate
Series
2022B,
5.750%,
12/15/57,
144A
12/31
at
100.00
N/R  
2,082,930
1,000
Arizona
Industrial
Development
Authority,
Education
Facility
Revenue
Bonds,
Caurus
Academy
Project,
Series
2018A,
6.500%,
6/01/50,
144A
6/28
at
100.00
N/R  
1,017,180
1,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Gateway
Academy
Project,
Series
2019A,
5.750%,
1/01/50,
144A
1/30
at
100.00
N/R  
868,140
1,000
Pima
County
Industrial
Development
Authority,
Arizona,
Charter
School
Revenue
Bonds,
Desert
Heights
Charter
School,
Series
2014,
7.250%,
5/01/44
5/24
at
100.00
N/R  
1,017,240
3,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Refunding
Series
2020,
5.000%,
7/01/49,
144A
7/26
at
103.00
N/R  
2,666,040
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2016:
245
5.250%,
7/01/36
7/26
at
100.00
BB-  
244,767
400
5.375%,
7/01/46
7/26
at
100.00
BB-  
380,324
475
5.500%,
7/01/51
7/26
at
100.00
BB-  
451,440
1,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019,
5.875%,
7/01/51,
144A
7/26
at
103.00
N/R  
1,000,490
2,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
San
Tan
Montessori
School
Project,
Series
2014A,
9.000%,
2/01/44
2/24
at
100.00
N/R  
2,052,480
330
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020,
5.000%,
6/15/35,
144A
6/28
at
100.00
N/R  
320,635
100
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
The
Paideia
Academies
Project,
2019,
5.125%,
7/01/39
7/25
at
100.00
N/R  
93,870
7,500
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007,
5.500%,
12/01/37,
144A
No
Opt.
Call
Ba3  
8,133,000
2,000
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Convertible
Capital
Appreciation
Revenue
Bonds,
Series
2021A,
5.375%,
10/01/56
10/29
at
103.00
N/R  
1,414,480
2,000
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
AmeriSchools
Academy
Project,
Series
2022,
6.000%,
6/15/57,
144A
6/29
at
103.00
N/R  
1,921,460
Total
Arizona
49,132,779
115
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arkansas
-
0.5%
(0.3%
of
Total
Investments)
$
4,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT),
144A
9/26
at
103.00
BB-  
$
3,590,040
2,500
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
4.750%,
9/01/49,
(AMT),
144A
9/27
at
103.00
BB-  
2,332,675
Total
Arkansas
5,922,715
California
-
14.9%
(9.3%
of
Total
Investments)
16,390
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C,
5.450%,
10/01/52
-
AGM
Insured
10/37
at
100.00
BBB  
8,220,241
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2022B:
4,000
5.300%,
10/01/47
10/37
at
100.00
A-  
2,021,000
18,905
5.350%,
10/01/48
10/37
at
100.00
A-  
9,496,171
4,585
5.375%,
10/01/49
10/37
at
100.00
A-  
2,291,583
3,055
5.400%,
10/01/50
10/37
at
100.00
A-  
1,520,076
3,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A,
4.000%,
2/01/56,
144A
8/31
at
100.00
N/R  
2,316,300
2,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Exchange
at
Bayfront
Apartments,
Junior
Series
2021A-2,
4.000%,
8/01/51,
144A
8/32
at
100.00
N/R  
1,433,240
1,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Glendale
Properties,
Junior
Series
2021A-2,
4.000%,
8/01/47,
144A
8/31
at
100.00
N/R  
768,240
3,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Mira
Vista
Hills  Apartments,
Series
2021A,
4.000%,
2/01/56,
144A
8/31
at
100.00
N/R  
2,063,700
1,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A,
5.000%,
2/01/50,
144A
2/30
at
100.00
N/R  
829,460
5,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Stoneridge
Apartments,
Series
2021A,
4.000%,
2/01/56,
144A
2/31
at
100.00
N/R  
3,713,400
3,335
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-1,
3.000%,
2/01/57,
144A
8/32
at
100.00
N/R  
2,228,547
3,590
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-2,
4.000%,
2/01/50,
144A
8/32
at
100.00
N/R  
2,693,326
500
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
&
Language
Academy
Project,
Series
2021,
4.000%,
7/01/61,
144A
7/27
at
100.00
N/R  
328,895
2,250
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
and
Language
Academy
Project,
Series
2020,
6.250%,
7/01/58,
144A
7/27
at
102.00
N/R  
2,116,373
10,450
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Cedars-
Sinai
Health
System,
Series
2021A,
4.000%,
8/15/48
8/31
at
100.00
AA-  
10,194,184
7,500
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A,
5.000%,
8/15/47,
(UB)
(5)
8/27
at
100.00
Baa2  
7,645,875
5,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Kaiser
Permanente
System,
Series
2017A-2,
4.000%,
11/01/44,
(UB)
11/27
at
100.00
AA-  
4,901,700
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
116
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
1,020
California
Municipal
Finance
Authority,
Mobile
Home
Park
Revenue
Bonds,
Caritas
Affordable
Housing
Inc
Projects,
Series
2014B,
5.875%,
8/15/49
8/24
at
100.00
N/R  
$
1,025,212
500
California
Municipal
Finance
Authority,
Revenue
Bonds,
California
Baptist
University,
Series
2016A,
5.000%,
11/01/36,
144A
11/26
at
100.00
N/R  
504,945
7,430
California
Municipal
Finance
Authority,
Revenue
Bonds,
Eisenhower
Medical
Center,
Refunding
Series
2017B,
4.000%,
7/01/42,
(UB)
(5)
7/27
at
100.00
BBB-  
6,855,438
10,925
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
4.000%,
12/31/47,
(AMT),
(UB)
(5)
6/28
at
100.00
BBB-  
9,749,907
2,165
California
Municipal
Finance
Authority,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2020-6,
County
of
Placer-PV400,
Series
2022,
5.250%,
9/01/52
9/29
at
103.00
N/R  
2,213,388
1,130
California
Municipal
Financing
Authority,
Certificates
of
Participation,
Palomar
Health,
Series
2022A,
5.250%,
11/01/52
-
AGM
Insured
11/32
at
100.00
BBB-  
1,204,173
400
California
Pollution
Contol
Financing
Authority,
Solid
Waste
Disposal
Revenue
Bonds,
Aemerge
Redpak
Services
Southern
California,
LLC
Project,
Subordinate
Series
2017,
8.000%,
12/01/27,
(AMT),
144A
(4)
No
Opt.
Call
N/R  
24,000
1,000
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A,
5.125%,
7/01/55,
144A
7/28
at
100.00
N/R  
802,990
1,000
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Alta
Public
Schools
-
Obligated
Group,
Series
2020A,
6.000%,
6/01/59,
144A
6/28
at
102.00
N/R  
962,890
1,000
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Girls
Athletic
Leadership
School
Los
Angeles
Project,
Series
2021A,
4.000%,
6/01/61,
144A
6/31
at
100.00
N/R  
677,680
2,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Russell
Westbrook
Why
Not?
Academy
?
Obligated
Group,
Series
2021A,
4.000%,
6/01/61,
144A
6/27
at
100.00
N/R  
1,385,620
1,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
?
Obligated
Group,
Series
2020A,
5.000%,
6/01/60,
144A
6/28
at
100.00
N/R  
742,670
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A:
800
5.250%,
12/01/44
12/24
at
100.00
BB  
801,168
1,000
5.500%,
12/01/54
12/24
at
100.00
BB  
998,390
6,940
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A,
5.250%,
12/01/56,
144A
6/26
at
100.00
BB  
6,654,280
500
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Lancer
Educational
Student
Housing
Project,
Refunding
Series
2016A,
5.000%,
6/01/46,
144A
6/26
at
100.00
N/R  
470,000
785
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Series
2011A,
8.000%,
9/02/41
5/23
at
100.00
N/R  
765,901
995
California
Statewide
Communities
Development
Authority,
Statewide
Community
Infrastructure
Program
Revenue
Bonds,
Series
2021A,
4.000%,
9/02/51
9/31
at
100.00
N/R  
807,184
24
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A,
5.500%,
7/01/39
(4),(6)
1/22
at
100.00
N/R  
24,163
1,300
CMFA
Special
Finance
Agency
I,
California,
Essential
Housing
Revenue
Bonds,
The
Mix
at
Center
City,
Subordinate
Series
2021B,
8.000%,
4/01/56,
144A
4/31
at
100.00
N/R  
1,018,940
117
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
990
CMFA
Special
Finance
Agency
VII,
California,
Essential
Housing
Revenue
Bonds,
Junior
Lien
Series
2021A-2,
4.000%,
8/01/47,
144A
8/31
at
100.00
N/R  
$
763,765
3,750
CMFA
Special
Finance
Agency
VII,
California,
Essential
Housing
Revenue
Bonds,
Senior
Lien
Series
2021A-1,
3.000%,
8/01/56,
144A
8/31
at
100.00
N/R  
2,499,562
2,000
CMFA
Special
Finance
Agency,
California,
Essential
Housing
Revenue
Bonds,
Latitude
33,
Senior
Series
2021A-2,
4.000%,
12/01/45,
144A
12/31
at
100.00
N/R  
1,599,220
300
Corona,
California,
Special
Tax
Bonds,
Community
Facilities
District
2018-2
Sierra
Bella,
Series
2022A,
5.000%,
9/01/42
9/29
at
103.00
N/R  
307,131
1,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Acacia
on
Santa
Rosa
Creek,
Mezzanine
Lien
Series
2021B,
4.000%,
10/01/46,
144A
10/31
at
100.00
N/R  
762,540
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Acacia
on
Santa
Rosa
Creek,
Senior
Lien
Series
2021A,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R  
1,626,820
25,385
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Altana
Glendale,
Series
2021A-2,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R  
18,940,256
3,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Dublin
Mezzanine
Lien
Series
2021B,
4.000%,
2/01/57,
144A
2/32
at
100.00
N/R  
2,135,760
2,500
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Dublin
Social
Senior
Lien
Series
2021A-2,
3.000%,
2/01/57,
144A
2/32
at
100.00
N/R  
1,661,575
995
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-1,
3.400%,
10/01/46,
144A
10/31
at
100.00
N/R  
767,573
1,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-2,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R  
716,190
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Series
2021B,
4.000%,
7/01/58,
144A
7/32
at
100.00
N/R  
1,392,400
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Orange
City
Portfolio,
Mezzanine
Lien
Series
2021B,
4.000%,
3/01/57,
144A
3/32
at
100.00
N/R  
1,423,640
4,250
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Mezzanine
Senior
Series
2021B,
4.000%,
12/01/56,
144A
12/31
at
100.00
N/R  
3,070,583
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Mezzanine
Lien
Series
2021B,
4.000%,
6/01/57,
144A
6/31
at
100.00
N/R  
1,386,980
535
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-2,
3.125%,
6/01/57,
144A
6/31
at
100.00
N/R  
352,356
5,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2,
4.000%,
12/01/58
6/32
at
100.00
N/R  
3,746,750
2,145
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021B,
4.000%,
12/01/59
6/32
at
100.00
N/R  
1,382,603
3,430
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Senior
Lien
Series
2021A-1,
3.000%,
12/01/49
6/32
at
100.00
N/R  
2,297,208
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
118
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
1,720
Daly
City
Housing
Development
Finance
Agency,
California,
Mobile
Home
Park
Revenue
Bonds,
Franciscan
Mobile
Home
Park
Project,
Refunding
Third
Tier
Series
2007C,
6.500%,
12/15/47
5/23
at
100.00
N/R  
$
1,713,550
2,000
Daly
City
Housing
Development
Finance
Agency,
California,
Mobile
Home
Park
Revenue
Bonds,
Franciscan
Mobile
Home
Park,
Refunding
Series
2007A,
5.000%,
12/15/37
5/23
at
100.00
A+  
2,001,080
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Series
2015A:
1,100
5.000%,
6/01/40,
(Pre-refunded
6/01/25),
(UB)
6/25
at
100.00
N/R  (7)
1,151,986
900
5.000%,
6/01/40,
(Pre-refunded
6/01/25),
(UB)
6/25
at
100.00
A+  (7)
942,534
77,855
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Capital
Appreciation
Series
2021B-
2,
0.000%,
6/01/66
12/31
at
27.75
N/R  
8,634,898
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Tender
Option
Bond
Trust
2015-XF1038:
860
17.578%,
6/01/45,
144A,
(IF)
(5)
6/25
at
100.00
A+  
1,022,488
390
Lee
Lake
Public
Financing
Authority,
California,
Junior
Lien
Revenue
Bonds,
Series
2013B,
5.250%,
9/01/32
9/23
at
100.00
N/R  
392,363
1,000
Los
Angeles
County
Community
Facilities
District
2021-01,
California,
Special
Tax
Bond,
Valencia-Facilities
Improvement
Area
1,
Series
2022,
5.000%,
9/01/52
9/29
at
103.00
N/R  
1,008,320
535
Menifee
Union
School
District,
Riverside
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2011-1,
Improvement
Area
6,
Series
2021,
4.000%,
9/01/50
9/28
at
103.00
N/R  
473,577
Sacramento
City
Financing
Authority
California,
Lease
Revenue
Bonds,
Master
Lease
Program
Facilities
Projects,
Tender
Option
Bond
Trust
2016-XG0100:
750
7.793%,
12/01/30
-
AMBAC
Insured,
144A,
(IF)
(5)
No
Opt.
Call
AA  
1,189,012
2,015
13.187%,
12/01/33
-
AMBAC
Insured,
144A,
(IF)
(5)
No
Opt.
Call
AA  
3,670,484
4,095
San
Francisco
City
and
County
Redevelopment
Agency
Successor
Agency,
California,
Tax
Allocation
Bonds,
Mission
Bay
South
Redevelopment
Project,
Subordinate
Series
2016D,
0.000%,
8/01/31,
144A
5/23
at
67.47
N/R  
2,768,302
1,500
San
Francisco
City
and
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2016-1
Treasure
Island
Improvement
Area
1,
Series
2021,
4.000%,
9/01/51
9/27
at
103.00
N/R  
1,295,730
960
Santa
Margarita
Water
District,
California,
Special
Tax
Bonds,
Community
Facilities
District
2013-1
Village
of
Sendero,
Series
2013,
5.625%,
9/01/43
9/23
at
100.00
N/R  
963,888
1,055
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017,
6.250%,
9/01/47,
144A
9/27
at
100.00
N/R  
1,116,021
5,000
University
of
California
Regents,
Medical
Center
Pooled
Revenue
Bonds,
Series
2022P,
4.000%,
5/15/53,
(UB)
(5)
5/32
at
100.00
AA-  
4,756,000
1,250
University
of
California,
General
Revenue
Bonds,
Tender
Option
Bond
Trust
2016-XL0001,
11.760%,
5/15/39,
144A,
(IF)
(5)
5/23
at
100.00
N/R  
1,253,175
Total
California
183,657,570
Colorado
-
13.9%
(8.7%
of
Total
Investments)
490
Alpine
Mountain
Ranch
Metropolitan
District,
Routt
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
2,
Series
2021,
4.000%,
12/01/40
9/26
at
103.00
N/R  
379,899
119
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
856
Antelope
Heights
Metropolitan
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Junior
Lien
Series
Series
2021B,
5.500%,
12/15/37
9/26
at
103.00
N/R  
$
765,795
1,089
Aspen
Street
Metropolitan
District,
Broomfield
County
and
City,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A-3,
5.125%,
12/01/50
6/26
at
103.00
N/R  
872,039
12,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
5.750%,
12/01/51
12/28
at
103.00
N/R  
10,867,560
500
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2019B,
7.750%,
12/15/48
9/24
at
103.00
N/R  
462,045
1,500
Belford
North
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A,
5.500%,
12/01/50
12/25
at
103.00
N/R  
1,344,645
1,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A,
5.000%,
12/01/51
3/26
at
103.00
N/R  
871,030
500
Berthoud-Heritage
Metropolitan
District
10,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2022A,
4.750%,
12/01/52
12/26
at
103.00
N/R  
395,480
2,000
Bradley
Heights
Metropolitan
District
2,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3,
4.750%,
12/01/51
9/26
at
103.00
N/R  
1,510,100
1,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.000%,
12/01/49
6/24
at
103.00
N/R  
777,060
740
Broomfield
Village
Metropolitan
District
2,
In
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Limited
Tax
and
Revenue
Bonds,Series
2021A-2,
5.000%,
12/01/49,
144A
12/24
at
103.00
N/R  
661,109
3,000
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Junior
Subordinate
Series
2016,
7.000%,
12/15/57
5/23
at
100.00
N/R  
2,060,190
500
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Improvement
Bonds,
Series
2022,
6.500%,
12/01/53
12/27
at
103.00
N/R  
504,720
460
Cherry
Creek
Corporate
Center
Metropolitan
District,
Arapahoe
County,
Colorado,
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2016B,
8.000%,
6/15/37
5/23
at
102.00
N/R  
441,692
600
Clear
Creek
Transit
Metropolitan
District
2,
Adams
County,
Colorado,
Revenue
Supported
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/41
12/26
at
103.00
N/R  
549,534
540
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy
Project,
Series
2008,
6.250%,
7/01/28
5/23
at
100.00
BB+  
540,815
2,055
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Mountain
Phoenix
Community
School,
Series
2012,
7.000%,
10/01/42
5/23
at
100.00
N/R  
2,057,055
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A:
100
4.000%,
7/01/41,
144A
7/31
at
100.00
N/R  
83,204
100
4.000%,
7/01/51,
144A
7/31
at
100.00
N/R  
75,498
560
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Skyview
Academy
Project,
Series
2014,
5.375%,
7/01/44,
144A
7/24
at
100.00
BB  
556,802
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
120
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
720
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020,
5.000%,
12/01/55,
144A
12/30
at
100.00
N/R  
$
612,223
2,500
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
of
the
Midwest
Obligated
Group,
Series
2013,
8.000%,
8/01/43
2/24
at
100.00
N/R  
2,524,525
1,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
American
Baptist
Homes
Project,
Series
2016,
6.125%,
2/01/46,
144A
2/26
at
100.00
N/R  
859,580
3,144
Colorado
International
Center
Metropolitan
District
8,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
6.500%,
12/01/50
9/25
at
103.00
N/R  
2,884,274
500
Conestoga
Metropolitan
District
2,
Ault,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2021A-3,
5.250%,
12/01/51
9/26
at
103.00
N/R  
441,560
500
Copperleaf
Metropolitan
District
3,
Arapahoe
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B,
5.500%,
12/15/36
9/26
at
103.00
N/R  
447,260
750
Copperleaf
Metropolitan
District
4,
Arapahoe
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A,
5.000%,
12/01/49
3/25
at
103.00
N/R  
685,222
1,000
Crowfoot
Valley
Ranch
Metropolitan
District
No.
2,  Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2018A,
5.625%,
12/01/38
12/23
at
103.00
N/R  
1,002,970
656
Dacono
Urban
Renewal
Authority,
Weld
County,
Colorado,
Tax
Increment
Revenue
Bonds,
Series
2020,
6.250%,
12/01/39
12/25
at
103.00
N/R  
622,288
10,000
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A,
4.000%,
12/01/48,
(AMT),
(UB)
(5)
12/28
at
100.00
A+  
9,422,800
1,000
Denver
City
and
County,
Colorado,
Special
Facilities
Airport
Revenue
Bonds,
United
Airlines,
Inc.
Project,
Refunding
Series
2017,
5.000%,
10/01/32,
(AMT)
10/23
at
100.00
BB-  
1,001,090
465
Dinosaur
Ridge
Metropolitan
District,
Golden,
Jefferson
County,
Colorado,
Special
Revenue
Refunding
and
Improvement
Bonds,
Series
2019A,
5.000%,
6/01/49
6/24
at
103.00
N/R  
423,401
1,030
E-86
Metropolitan
District,
Elizabeth,
Elbert
County,
Colorado,
General
Obligation
Limited
Tax
Cash
Flow
Bonds,
Series
2021A-3,
5.125%,
12/01/51
6/26
at
103.00
N/R  
848,184
2,000
Elbert
and
Highway
86
Commercial
Metropolitan
District,
Elbert
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2021A,
5.000%,
12/01/51,
144A
6/26
at
103.00
N/R  
1,675,840
1,000
Erie
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
Series
2021,
4.000%,
12/01/38
9/26
at
103.00
N/R  
819,640
4,150
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A,
6.750%,
12/01/34,
144A
9/27
at
103.00
N/R  
4,188,221
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014:
1,000
5.750%,
12/01/30
12/24
at
100.00
N/R  
983,100
2,080
6.000%,
12/01/38
12/24
at
100.00
N/R  
1,955,658
1,000
Four
Corners
Business
Improvement
District,
Erie,
Boulder
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2022,
6.000%,
12/01/52
9/27
at
103.00
N/R  
919,300
121
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A:
$
8,380
5.500%,
12/01/42
12/30
at
102.00
N/R  
$
8,270,809
1,000
5.750%,
12/01/52
12/30
at
102.00
N/R  
976,330
2,260
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Subordinate
Series
2022B,
8.125%,
12/15/52
12/30
at
102.00
N/R  
2,260,136
Future
Legends
Sports
Park
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
and
Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2022B:
3,000
6.000%,
12/01/52
9/27
at
103.00
N/R  
2,922,900
1,000
8.500%,
12/15/52
9/27
at
103.00
N/R  
985,400
3,000
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.500%,
6/01/50,
144A
6/25
at
103.00
N/R  
2,581,650
500
Glen
Metropolitan
District
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021,
4.250%,
12/01/51,
144A
12/26
at
103.00
N/R  
367,255
Grand
Junction
Dos
Rios
General
Improvement
District,
Grand
Junction,
Mesa
County,
Colorado,
Special
Revenue
Bonds,
Series
2021:
500
4.500%,
12/01/41
12/26
at
103.00
N/R  
406,490
500
4.750%,
12/01/51
12/26
at
103.00
N/R  
385,020
Grandview
Reserve
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Senior
Bonds,
Series
2022A
and
Limited
Tax
General
Obligation
Subordinate
Bonds,
Series
2022B(3):
750
6.250%,
12/01/52
9/27
at
103.00
N/R  
709,500
1,000
9.000%,
12/15/52
9/27
at
103.00
N/R  
968,140
1,000
Great
Western
Metropolitan
District
5,
Colorado,
General
Obligation
Limited
Tax
Revenue
Bonds,
Refunding
Series
2020,
4.750%,
12/01/50
12/25
at
102.00
N/R  
861,220
2,000
Heritage
Todd
Creek
Metropolitan
District,
Colorado,
General
Obligation
Bonds
Limited
Tax,
Refunding
&
Improvement
Series
2015,
6.125%,
12/01/44
12/24
at
100.00
N/R  
2,007,160
540
Highlands
Metropolitan
District
1,
Broomfield
City  and
County,
colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021,
5.000%,
12/01/41
3/26
at
103.00
N/R  
493,814
810
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B,
5.750%,
12/15/50
12/23
at
103.00
N/R  
784,363
1,000
Johnstown
Village
Metropolitan
District
2,
Weld
County,
own
of
Johnstown,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A,
5.000%,
12/01/50
9/25
at
103.00
N/R  
878,090
1,700
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A,
5.750%,
12/01/50
12/25
at
103.00
N/R  
1,434,222
1,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.125%,
12/01/50
12/25
at
103.00
N/R  
801,980
500
Lanterns
Metropolitan
District
1,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A,
5.000%,
12/01/49
9/24
at
103.00
N/R  
459,390
500
Lanterns
Metropolitan
District
2,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A-3,
4.500%,
12/01/50
9/26
at
103.00
N/R  
363,040
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
122
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
5,000
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022,
7.375%,
11/01/52,
144A
11/29
at
103.00
N/R  
$
4,994,000
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A:
500
5.000%,
12/01/41
6/26
at
103.00
N/R  
457,645
500
5.000%,
4/15/51
6/26
at
103.00
N/R  
429,005
1,000
Meadowbrook
Heights
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A(3),
4.875%,
12/01/51
9/26
at
103.00
N/R  
784,350
2,000
Murphy
Creek
Metropolitan
District
3,
Aurora,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2006,
6.125%,
12/01/35
(4)
5/23
at
100.00
N/R  
2,000,000
500
Murphy
Creek
Metropolitan
District
5
(In
the
City
of
Aurora,
Arapahoe
County,
Colorado),
General
Obligation
Limited
Tax
Bonds,
Series
2022A
and
Subordinate
General
Obligation
Limited
Tax
Bonds,
Series
2022B(3),
6.000%,
12/01/52
9/27
at
103.00
N/R  
487,150
500
North
Pine
Vistas
Metropolitan
District
3,
Castle
Pines,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B,
4.625%,
12/15/51
-
AGM
Insured
12/26
at
103.00
N/R  
429,050
1,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3,
5.250%,
12/01/50
12/25
at
103.00
N/R  
900,660
1,535
North
Vista
Highlands
Metropolitan
District
3,
Pueblo
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
5.125%,
12/01/49
3/25
at
103.00
N/R  
1,410,911
1,000
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
12/25
at
103.00
N/R  
871,630
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019:
1,500
5.000%,
12/01/39
12/24
at
103.00
N/R  
1,441,500
5,000
5.000%,
12/01/49
12/24
at
103.00
N/R  
4,529,900
500
Palisade
Park
West
Metropolitan
District,
Broomfield
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax,
Series
2019A,
5.125%,
12/01/49
6/24
at
103.00
N/R  
462,785
500
Parkdale
Community
Authority,
Erie,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
Series
2020A,
5.250%,
12/01/50
9/25
at
103.00
N/R  
449,090
500
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/41,
144A
3/26
at
103.00
N/R  
460,570
9,300
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Convertible
Capital
Appreciation
Bonds,
Series
2022A-2,
8.000%,
12/01/52
12/27
at
81.40
N/R  
5,093,703
4,690
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
N/R  
4,419,950
500
Prairie
Corner
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021,
4.875%,
12/01/51
12/26
at
103.00
N/R  
391,745
1,000
Prairie
Song
Metropolitan
District
4,
Windsor,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021,
6.000%,
12/01/51,
144A
12/28
at
103.00
N/R  
883,300
1,000
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
EVRAZ
Project,
Series
2021A,
4.750%,
12/01/45,
144A
12/30
at
100.00
N/R  
570,000
123
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
500
Raindance
Metropolitan
District
1,
Acting
by
and
through
its
Water
Activity
Enterprise
In
the
Town
of
Windsor,
Weld
County,
Colorado,
Non-Potable
Water
Enterprise
Revenue
Bonds,
Series
2020,
5.250%,
12/01/50
12/25
at
103.00
N/R  
$
451,700
1,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021,
4.000%,
12/01/51
10/26
at
102.00
N/R  
702,980
2,000
Reagan
Ranch
Metropolitan
District
1,
Colorado
Springs,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2021-3,
5.375%,
12/01/51
12/26
at
103.00
N/R  
1,692,160
1,000
Remuda
Ranch
Metropolitan
District,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
12/25
at
103.00
N/R  
889,260
736
Reunion
Metropolitan
District,
Acting
By
and
Through
its
Water
Activity
Enterprise,  Adams
County,
Colorado,
Special
Revenue
Bonds,
Series
2021,
3.625%,
12/01/44
6/26
at
103.00
N/R  
542,147
500
Ritoro
Metropolitan
District
In
the
Town
of
Elizabeth,
Elbert
County,
Colorado,
Limited
Tax
,
Convertible
to
Unlimited
Tax,
General
Obligation
Bonds,
Series
2019A,
5.000%,
12/01/49
6/24
at
103.00
N/R  
462,640
500
Riverdale
Ranch
Metropolitan
District,
Thornton
City,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A,
5.000%,
12/01/49
9/24
at
103.00
N/R  
454,375
570
Riverview
Metropolitan
District,
Steamboat
Springs,
Routt
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Refunding
Series
2021,
5.000%,
12/01/51
6/26
at
103.00
N/R  
489,260
1,000
Riverwalk
Metropolitan
District
2,
Glendale,
Arapahoe
County,
Colorado,
Special
Revenue
Bonds,
Series
2022A,
5.000%,
12/01/52
3/27
at
103.00
N/R  
863,810
2,000
RRC
Metropolitan
District
2,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021,
5.250%,
12/01/51
12/26
at
103.00
N/R  
1,684,920
2,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A,
6.750%,
12/01/52
12/29
at
103.00
N/R  
1,978,880
Siena
Lake
Metropolitan
District,
Gypsum,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021:
1,000
3.750%,
12/01/41
9/26
at
103.00
N/R  
766,710
2,000
4.000%,
12/01/51
9/26
at
103.00
N/R  
1,480,280
1,025
Silver
Leaf
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3,
5.250%,
12/01/50
6/26
at
103.00
N/R  
874,520
1,000
South
Aurora
Regional
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2018,
6.250%,
12/01/57
12/23
at
103.00
N/R  
951,000
5,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022,
6.750%,
12/01/53
12/27
at
103.00
N/R  
5,067,550
2,790
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020,
5.125%,
12/01/50
12/25
at
103.00
N/R  
2,497,078
3,000
Stone
Ridge
Metropolitan
District
2,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited,
Series
2007,
0.000%,
12/01/31
(4)
5/23
at
100.00
N/R  
480,000
685
Three
Springs
Metropolitan
District
1,
Durango,
La
Plata
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Subordinate
Series
2020B,
7.125%,
12/15/50
12/25
at
103.00
N/R  
617,425
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
124
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1:
$
1,000
5.000%,
12/01/41
3/26
at
103.00
N/R  
$
897,100
3,000
5.000%,
12/01/51
3/26
at
103.00
N/R  
2,415,480
1,000
Tree
Farm
Metropolitan
District,
Eagle
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021,
4.750%,
12/01/50,
144A
12/26
at
103.00
N/R  
856,320
1,000
Velocity
Metropolitan
District
3,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019,
5.375%,
12/01/39
12/23
at
103.00
N/R  
996,430
1,500
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
6.000%,
12/01/50
12/23
at
81.31
N/R  
1,017,285
1,570
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.375%,
12/01/50
12/23
at
103.00
N/R  
1,446,315
1,000
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021,
5.000%,
12/01/51
3/26
at
103.00
N/R  
878,890
500
Village
East
Community
Metropolitan
District,
Frederick,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.250%,
12/01/50
9/25
at
103.00
N/R  
452,825
1,100
Village
Metropolitan
District
In
the
Town
of
Avon,
Eagle
County,
Colorado,
Special
Revenue
and
Limited
Property
Tax
Bonds,
Refunding
&
Improvement
Series
2020,
5.000%,
12/01/40
12/25
at
103.00
N/R  
1,060,796
3,000
Villages
at
Johnstown
Metropolitan
District
7,
Johnstown,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A(3),
6.250%,
12/01/52
6/27
at
103.00
N/R  
3,018,510
1,000
Waterfront
at
Foster
Lake
Metropolitan
District
2,
Weld
County,
Colorado,
Special
Revenue
Bonds,
Series
2022,
4.625%,
12/01/28
No
Opt.
Call
N/R  
923,060
750
Waterview
II
Metropolitan
District,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A,
5.000%,
12/01/41
3/27
at
103.00
N/R  
686,918
1,500
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
6.750%,
12/01/52
12/29
at
103.00
N/R  
1,410,735
1,000
Westgate
Metropolitan
District,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
5.125%,
12/01/51
3/27
at
103.00
N/R  
856,360
2,000
Westwood
Metropolitan
District,
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2021A,
4.000%,
12/01/51,
144A
9/26
at
103.00
N/R  
1,468,220
2,390
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2,
4.625%,
12/01/51,
144A
9/26
at
97.28
N/R  
1,280,897
14,000
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1,
4.125%,
12/01/51,
144A
9/26
at
103.00
N/R  
8,553,720
705
Windsor
Highlands
Metropolitan
District
9,
Windsor,
Larimer
County,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2019,
5.000%,
12/01/49
9/24
at
103.00
N/R  
637,785
1,000
Winsome
Metropolitan
District
No.
3,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A,
5.125%,
12/01/50,
144A
9/26
at
103.00
N/R  
828,340
816
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Taxable
Converting
to
Tax-
Exempt
Refunding
Subordinate
Series
2020B-1,
6.250%,
12/15/40
12/25
at
103.00
N/R  
773,168
Total
Colorado
171,883,110
125
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
-
0.2%
(0.1%
of
Total
Investments)
$
2,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Stamford
Hospital,
Forward
Delivery
Series
2022M,
4.000%,
7/01/41
7/32
at
100.00
BBB+  
$
1,896,260
500
Great
Pond
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Great
Pond
Phase
1
Project,
Series
2019,
4.750%,
10/01/48,
144A
10/26
at
102.00
N/R  
447,080
Steel
Point
Infrastructure
Improvement
District,
Connecticut,
Special
Obligation
Revenue
Bonds,
Steelpointe
Harbor
Project,
Series
2021:
110
4.000%,
4/01/41
4/30
at
100.00
N/R  
90,252
410
4.000%,
4/01/51
4/30
at
100.00
N/R  
310,374
Total
Connecticut
2,743,966
Delaware
-
0.2%
(0.1%
of
Total
Investments)
2,500
Delaware
Economic
Development
Authority,
Revenue
Bonds,
Odyssey
Charter
School
Inc.
Project,
Series
2015A,
7.000%,
9/01/45,
144A
3/25
at
100.00
N/R  
2,572,950
Total
Delaware
2,572,950
District
of
Columbia
-
3.4%
(2.1%
of
Total
Investments)
30
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2001,
6.500%,
5/15/33
No
Opt.
Call
BBB  
30,651
1,998
District
of
Columbia,
Revenue
Bonds,
Saint
Paul
on
Fouth
Street,
Inc.,
Series
2019A,
5.250%,
5/15/55,
144A
5/30
at
100.00
N/R  
1,665,533
1,800
District
of
Columbia,
Tax
Increment
Revenue
Bonds,
Union
Market
Infrastructure
Project,
Series
2021A,
4.250%,
6/01/46,
144A
6/28
at
100.00
N/R  
1,146,960
250
District
of
Columbia,
Washington,
D.C.,
Revenue
Bonds,
KIPP
DC
Issue,
Series
2013A,
6.000%,
7/01/33,
(Pre-refunded
7/01/23)
7/23
at
100.00
N/R  (7)
251,045
5,100
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B,
4.000%,
10/01/53
-
AGM
Insured,
(UB)
(5)
10/29
at
100.00
A1  
4,894,725
4,750
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
Second
Senior
Lien
Series
2022A,
4.000%,
10/01/52
-
AGM
Insured
(5)
10/31
at
100.00
A1  
4,575,627
30,640
Metropolitan
Washington
Airports
Authority,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
Improvement
Projects,
Refunding
Second
Senior
Lien
Series
2022A,
4.000%,
10/01/52
-
AGM
Insured,
(UB)
(5)
10/31
at
100.00
A1  
29,515,206
Total
District
of
Columbia
42,079,747
Florida
-
18.9%
(11.8%
of
Total
Investments)
350
Abbott
Square
Community
Development
District,
Zephyrhills,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022,
5.500%,
6/15/52
6/32
at
100.00
N/R  
347,949
500
Academical
Village
Community
Development
District,
Davie,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020,
4.000%,
5/01/51
5/30
at
100.00
N/R  
385,015
1,645
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Terraces
at
Bonita
Springs
Project,
Refunding
Series
2022A,
5.000%,
11/15/61,
144A
11/29
at
103.00
N/R  
1,089,582
250
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Terraces
at
Bonita
Springs
Project,
Taxable
Refunding
Series
2022B,
6.500%,
11/15/33,
144A
No
Opt.
Call
N/R  
222,112
17,970
Alachua
County
Health
Facilities
Authority,
Florida,
Health
Facilties
Revenue
Bonds,
Shands
Teaching
Hospital
&
Clinics,
Inc.
at
the
University
of
Florida
Project,
Series
2019A,
4.000%,
12/01/49,
(UB)
(5)
12/29
at
100.00
A3  
16,148,201
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
126
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,680
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
2015
Assessment
Project,
Series
2015,
5.375%,
5/01/45
5/25
at
100.00
N/R  
$
1,681,596
2,245
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R  
1,785,089
500
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
3
Master
Improvements
Project,
Series
2021,
4.000%,
5/01/52,
144A
5/32
at
100.00
N/R  
374,390
1,190
Avenir
Community
Development
District,
Palm
Beach
Gardens,
Florida,
Special
Assessment
Bonds,
Area
3
-
Master
Infrastructure
Project,
Series
2023,
5.625%,
5/01/54
5/33
at
100.00
N/R  
1,152,217
1,020
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2021
Project
Series
2021,
4.000%,
5/01/52,
144A
5/31
at
100.00
N/R  
794,988
1,100
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022,
5.000%,
5/01/53
5/32
at
100.00
N/R  
1,029,688
995
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
Series
2015,
5.250%,
11/01/46
11/25
at
100.00
N/R  
988,473
1,000
Balm
Grove
Community
Development
District,
Florida,
Special
Assessment
Bonds,
2022
Project,
Series
2022,
4.125%,
11/01/51
11/32
at
100.00
N/R  
797,190
905
Belmont
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Phase
1
Project,
Series
2013A,
6.125%,
11/01/33
No
Opt.
Call
N/R  
962,142
1,575
Boggy
Creek
Improvement
District,
Orlando,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2013,
5.125%,
5/01/43
5/23
at
100.00
N/R  
1,575,283
500
Buckhead
Trails
Community
Development
District,
Manatee
County
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022,
5.750%,
5/01/52,
144A
5/37
at
100.00
N/R  
493,745
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
AcadeMir
Charter
Schools,
Series
2021A:
285
4.000%,
7/01/41,
144A
7/31
at
100.00
Ba2  
233,130
545
4.000%,
7/01/51,
144A
7/31
at
100.00
Ba2  
405,382
445
4.000%,
7/01/56,
144A
7/31
at
100.00
Ba2  
318,998
1,000
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Legends
Academy,
Series
2021A,
5.000%,
12/01/56,
144A
12/28
at
100.00
N/R  
760,090
2,500
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
LLT  Academy
South
Bay
Project,
Series
2020A,
6.000%,
6/15/55,
144A
6/25
at
105.00
N/R  
2,337,825
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2021:
500
4.000%,
8/15/51,
144A
8/28
at
100.00
N/R  
367,845
1,000
4.200%,
8/15/56,
144A
8/28
at
100.00
N/R  
737,310
1,000
4.250%,
8/15/61,
144A
8/28
at
100.00
N/R  
722,490
4,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Educational
Growth
Fund,
LLC,
Charter
School
Portfolio
Projects,
Series
2021A-1,
5.000%,
7/01/56,
144A
7/31
at
100.00
N/R  
3,646,440
2,273
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Provision
CARES
Proton
Therapy
Center,
Orlando
Project,
Series
2018,
7.500%,
6/01/48,
144A
2018
1
(4)
6/28
at
100.00
N/R  
295,466
830
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Renaissance
Charter
School
Project,
Series
2019A,
5.000%,
6/15/39,
144A
6/26
at
100.00
N/R  
775,021
127
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
St.
Johns
Classical
Academy,
Refunding
Series
2021A,
4.000%,
6/15/56,
144A
6/30
at
100.00
N/R  
$
707,620
1,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Tuscan
Gardens
of
Palm
Coast
Project,
Series
2017A,
7.000%,
10/01/49,
144A
(4)
4/24
at
103.00
N/R  
560,000
1,000
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017,
5.875%,
8/01/52,
144A
8/24
at
103.00
N/R  
704,400
955
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014,
5.125%,
5/01/45
5/24
at
100.00
N/R  
908,453
445
Celebration
Pointe
Community
Development
District
1,
Alachua
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021,
4.000%,
5/01/53
5/31
at
100.00
N/R  
336,349
1,000
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2019,
5.000%,
10/01/49,
(AMT),
144A
10/27
at
100.00
N/R  
970,750
1,000
Charlotte
County
Industrial
Development
Authority,
Florida,
Utility
System
Revenue
Bonds,
Town
&
Country
Utilities
Project,
Series
2021A,
4.000%,
10/01/51,
(AMT),
144A
10/31
at
100.00
N/R  
772,190
215
Coddington
Community
Development
District,
Manatee
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022,
5.750%,
5/01/42,
144A
5/32
at
100.00
N/R  
220,736
2,000
Collier
County
Industrial
Development
Authority,
Florida,
Continuing
Care
Community
Revenue
Bonds,
Arlington
of
Naples
Project,
Series
2014A,
0.000%,
5/15/35,
144A
(4)
5/24
at
100.00
N/R  
1,120,000
995
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2018,
5.375%,
11/01/50,
144A
11/29
at
100.00
N/R  
997,587
1,000
Cross
Creek
North
Community
Development
District,
Clay
County,
Florida,
Special
Assessment
Bonds,
Series
2022,
4.500%,
5/01/52
5/32
at
100.00
N/R  
902,670
1,605
Cypress
Mill
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2020,
4.000%,
6/15/40
6/30
at
100.00
N/R  
1,385,035
525
East
Nassau
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R  
410,356
750
Eden
Hills
Community
Development
District,
Lake
Alfred,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022,
4.125%,
5/01/52
5/32
at
100.00
N/R  
603,878
1,245
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Creative
Inspiration
Journey
School
of
St.
Cloud,
Series
2021A,
5.000%,
6/15/41,
144A
6/29
at
102.00
N/R  
1,084,258
1,850
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2014A,
6.500%,
7/01/44
7/24
at
100.00
N/R  
1,862,524
1,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Downtown
Doral
Charter
Elementary
School
Project,
Series
2017A,
5.750%,
7/01/44,
144A
7/27
at
100.00
N/R  
941,650
2,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Dreamers
Academy
Project,
Series
2022A,
6.000%,
1/15/57,
144A
1/28
at
101.00
N/R  
1,504,240
565
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Florida
Charter
Foundation
Inc.
Projects,
Series
2016A,
5.000%,
7/15/46,
144A
7/26
at
100.00
N/R  
528,874
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
128
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
5,855
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
Broward
Project,
Series
2021A,
4.000%,
12/15/56,
144A
12/29
at
100.00
Baa3  
$
4,815,738
1,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Miami
Arts
Charter
School
Projects,
Series
2014,
6.000%,
6/15/44,
144A
6/24
at
100.00
N/R  
822,980
655
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
of
Pasco
County
Inc.,
Series
2020A,
5.000%,
1/01/50,
144A
1/27
at
100.00
N/R  
589,998
1,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2013A,
8.500%,
6/15/44,
(Pre-refunded
6/15/23)
6/23
at
100.00
N/R  (7)
1,005,620
120
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C,
5.000%,
9/15/50,
144A
9/27
at
100.00
N/R  
99,089
20,860
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Brightline
Passenger
Rail
Project,
Green
Series
2019B,
7.375%,
1/01/49,
(AMT),
144A
1/24
at
107.00
N/R  
19,830,976
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
5,590
6.250%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/24),
144A
5/23
at
101.00
N/R  
5,554,224
31,170
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
5/23
at
102.00
N/R  
29,641,111
6,485
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
5/23
at
102.00
N/R  
6,120,219
5,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023A,
7.500%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
5/23
at
100.00
N/R  
4,914,250
25,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2022A,
7.250%,
7/01/57,
(AMT),
(Mandatory
Put
10/03/23),
144A
5/23
at
103.00
N/R  
25,319,250
FRERC
Community
Development
District,
Ocoee,
Florida,
Special
Assessment
Bonds,
Series
2020:
2,750
5.375%,
11/01/40
11/29
at
100.00
N/R  
2,663,650
2,000
5.500%,
11/01/50
11/29
at
100.00
N/R  
1,902,220
1,000
Gracewater
Sarasota
Community
Development
District,
Sarasota
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021,
4.000%,
5/01/52,
144A
5/31
at
100.00
N/R  
777,360
1,000
Grand
Bay
at
Doral
Community
Development
District,
Miami-
Dade
County,
Florida,
Special
Assessment
Improvement
Bonds,
Assessment
Area
Two
Project,
Refunding
Series
2014A-2,
6.500%,
5/01/39
5/24
at
100.00
N/R  
1,013,920
200
Gulfstream
Polo
Community
Development
District,
Palm
Beach
County,
Florida,
Special
Assessment
Bonds,
Phase
2
Project,
Series
2019,
4.375%,
11/01/49
11/29
at
100.00
N/R  
174,592
1,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area
3
Project,
Series
2022,
5.000%,
5/01/52,
144A
5/32
at
100.00
N/R  
927,020
1,865
Harmony
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Special
Assessment,
Refunding
Series
2014,
5.250%,
5/01/32
5/24
at
100.00
N/R  
1,873,225
200
Hawkstone
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
2,
Series
2019,
4.000%,
11/01/39
11/29
at
100.00
N/R  
176,046
129
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,000
Hawkstone
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
4,
Series
2023,
5.500%,
5/01/53
5/33
at
100.00
N/R  
$
999,960
265
Lakes
of
Sarasota
Community
Development
District,
Florida,
Improvement
Revenue
Bonds,
Capital
Phase
1
Project
2021A-1,
4.100%,
5/01/51
5/31
at
100.00
N/R  
215,922
500
Lakes
of
Sarasota
Community
Development
District,
Florida,
Improvement
Revenue
Bonds,
Capital
Phase
1
Project
2021B-1,
4.300%,
5/01/51
5/31
at
100.00
N/R  
421,385
610
Lakewood
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2021,
4.000%,
5/01/52
5/31
at
100.00
N/R  
474,257
610
Lakewood
Ranch
Stewardship
District,
Florida,
Special
Assessment
Revenue
Bonds,
Lakewood
Centre
North
Project,
Series
2015,
4.875%,
5/01/45
5/25
at
100.00
N/R  
574,114
2,000
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A,
5.375%,
6/15/37
5/23
at
100.00
BB  
1,938,860
1,630
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A,
5.750%,
12/01/52,
144A
5/23
at
105.00
N/R  
1,120,397
750
Leomas
Landing
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
2,
Series
2021,
4.000%,
5/01/52
5/31
at
100.00
N/R  
583,050
1,000
Magic
Place
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019,
4.500%,
5/01/51
5/30
at
100.00
N/R  
854,770
3,000
Miami
Beach,
Florida,
Resort
Tax
Revenue
Bonds,
Series
2015,
5.000%,
9/01/45
9/25
at
100.00
AA-  
3,078,570
750
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
South
Florida
Autism
Charter
School
Project,
Series
2017,
6.000%,
7/01/47,
144A
7/27
at
100.00
N/R  
708,877
2,085
Miami
World
Center
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2017,
5.250%,
11/01/49
11/27
at
100.00
N/R  
2,057,791
1,750
Miami-Dade
County
Industrial
Development
Authority,
Florida,
Revenue
Bonds,
Youth
Co-Op
Charter
Schools
Project,
Series
2015A,
6.000%,
9/15/45,
144A
9/25
at
100.00
N/R  
1,753,657
1,000
Miami-Dade
County
Industrual
Development
Authority,
Florida,
Revenue
Bonds,
Doral
Academy,
Seres
2018,
5.000%,
1/15/48
1/28
at
100.00
BBB-  
965,930
11,250
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT),
(UB)
(5)
10/32
at
100.00
A3  
12,027,488
505
Mirada
Community
Development
District,
Pasco
County,
Florida,
Bond
Anticipation
Note,
Assessment
Area
3,
Series
2019,
4.500%,
5/01/24
5/23
at
100.00
N/R  
505,051
500
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2022,
5.750%,
5/01/53,
144A
5/32
at
100.00
N/R  
504,125
400
North
Park
Isle
Community
Development
District,
Plant
City,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1,
Series
2019,
4.750%,
5/01/50
5/29
at
100.00
N/R  
357,532
930
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2015,
5.500%,
8/01/46
8/26
at
100.00
N/R  
934,873
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
130
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,000
Northern
Palm
Beach
County
Improvement
District,
Florida,
Water
Control
and
Improvement
Bonds,
Development
Unit
53,
Series
2021,
4.000%,
8/01/51
8/31
at
100.00
N/R  
$
792,130
9,305
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Series
2019,
4.000%,
8/15/49,
(UB)
(5)
8/29
at
100.00
A1  
8,512,493
250
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Jupiter
Medical
Center,
Series
2022,
5.000%,
11/01/52
11/32
at
100.00
BBB-  
251,747
1,355
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
LU
Properties
LLC
Lynn
University
Housing
Project,
Series
2021A,
5.000%,
6/01/57,
144A
6/31
at
100.00
N/R  
1,166,167
500
Palm
Beach
County,
Florida,
Revenue
Bonds,
Provident
Group
-
PBAU
Properties
LLC
-
Palm
Beach
Atlantic
University
Housing
Project,
Series
2019A,
5.000%,
4/01/51,
144A
4/29
at
100.00
Ba1  
450,100
250
Palm
Coast
Park
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Sawmill
Branch
Phase
2
Flager,
Series
2022,
5.125%,
5/01/51
5/32
at
100.00
N/R  
236,005
500
Portico
Community
Development
District,
Lee
County,
Florida,
Special  Assessment,
Improvement
Series
2020-2,
4.000%,
5/01/50
5/30
at
100.00
N/R  
393,490
910
Rivers
Edge
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R  
711,283
2,500
Rolling
Oaks
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2016,
6.000%,
11/01/47
11/27
at
100.00
N/R  
2,565,175
1,000
Saint
Johns
County
Housing
Authority,
Florida,
Multifamily
Mortgage
Revenue
Bonds,
Victoria
Crossing,
Series
2021A,
3.920%,
4/01/59,
(Mandatory
Put
4/01/39),
144A
11/31
at
100.00
N/R  
712,950
Sawyers
Landing
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021:
1,000
4.125%,
5/01/41,
144A
5/31
at
100.00
N/R  
841,110
1,000
4.250%,
5/01/53,
144A
5/31
at
100.00
N/R  
790,340
610
Seminole
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Galileo
Schools
for
Gifted
Learning,
Series
2021A,
4.000%,
6/15/51,
144A
6/31
at
100.00
Ba1  
461,331
500
Shingle
Creek
at
Branson
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021,
4.000%,
6/15/51
6/31
at
100.00
N/R  
390,880
990
Shingle
Creek
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2015,
5.400%,
11/01/45
11/25
at
100.00
N/R  
992,119
725
Southern
Grove
Community
Develoment
District
5,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Community
Infrastructure
Series
2021,
4.000%,
5/01/48
5/31
at
100.00
N/R  
578,557
615
Summit
View
Community
Development
District,
Dade
City,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021B,
5.000%,
5/01/41
No
Opt.
Call
N/R  
551,612
1,000
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B,
4.625%,
5/01/36,
144A
9/23
at
100.00
N/R  
926,870
2,300
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-2,
0.000%,
5/01/40
(8)
5/23
at
100.00
N/R  
2,082,420
2,505
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-3,
6.610%,
5/01/40
(4)
5/23
at
100.00
N/R  
25
131
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,230
Touchstone
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Bonds,
2019
Project,
Series
2019,
4.000%,
12/15/40
12/29
at
100.00
N/R  
$
1,064,258
400
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021,
4.000%,
5/01/52
5/31
at
100.00
N/R  
310,960
Turtle
Run
Community
Development
District,
Florida,
Special
Assessment
Benefit
Tax
Bonds,
Series
2017-2:
1,000
5.000%,
5/01/37
5/28
at
100.00
A2  
1,003,990
2,020
5.000%,
5/01/47
5/28
at
100.00
A2  
1,932,049
1,645
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-1,
6.375%,
11/01/47
11/31
at
100.00
N/R  
1,696,604
3,325
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-2,
6.375%,
11/01/47
11/31
at
100.00
N/R  
3,429,305
500
Two
Lakes
Community
Development
District,
Hialeah,
Florida,
Special
Assessment
Bonds,
Expansion
Area
Project,
Series
2019,
4.000%,
12/15/49
12/29
at
100.00
N/R  
396,845
505
Union
Park
East
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
3
Series
2021,
4.000%,
5/01/51,
144A
5/31
at
100.00
N/R  
396,274
1,000
V-Dana
Community
Development
District,
Lee
County,
Florida,Special
Assessment
Bonds,
Area
1
-
2021
Project,
Series
2021,
4.000%,
5/01/52
5/31
at
100.00
N/R  
786,750
1,000
Venetian
Parc
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Area
One
Project,
Series
2013,
6.500%,
11/01/43
11/28
at
100.00
N/R  
1,082,630
500
Verano
3
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Phase
2
Assessment
Area,
Series
2022,
6.625%,
11/01/52
11/32
at
100.00
N/R  
522,190
975
Waterset
North
Community
Development
District,
Hillsborough
County,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2014,
5.500%,
11/01/45
11/24
at
100.00
N/R  
976,414
500
Westside
Haines
City
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Area
1
Project,
Series
2021,
4.000%,
5/01/52
5/31
at
100.00
N/R  
388,990
Total
Florida
232,641,387
Georgia
-
0.2%
(0.1%
of
Total
Investments)
1,000
Atlanta
Urban
Residential
Finance
Authority,
Georgia,
Multifamily
Housing
Revenue
Bonds,
Testletree
Village
Apartments,
Series
2013A,
5.000%,
11/01/48
11/23
at
100.00
B  
781,400
1,880
Douglas
County
Development
Authority,
Georgia,
Charter
School
Revenue
Bonds,
Brighten
Academy
Project,
Series
2013A,
7.125%,
10/01/43
10/23
at
100.00
N/R  
1,888,178
Total
Georgia
2,669,578
Guam
-
0.0%
(0.0%
of
Total
Investments)
Guam
A.B.
Won
Pat  International
Airport
Authority,
Revenue
Bonds,
Series
2013C:
160
6.375%,
10/01/43,
(AMT)
10/23
at
100.00
Baa2  
161,782
170
6.375%,
10/01/43,
(Pre-refunded
10/01/23),
(AMT)
10/23
at
100.00
Baa2  (7)
171,894
Total
Guam
333,676
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
132
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Hawaii
-
0.2%
(0.1%
of
Total
Investments)
$
2,000
Hawaii
County,
Hawaii,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
1-2021,
Kaloko
Heights
Project,
Series
2023,
7.250%,
5/15/52,
144A
5/33
at
100.00
N/R  
$
1,983,140
Total
Hawaii
1,983,140
Idaho
-
0.6%
(0.4%
of
Total
Investments)
7,385
Idaho
Falls
Auditorium
District,
Idaho,
Certifications
of
Participation,  Annual
Appropriation
Series
2021,
5.250%,
5/15/51,
144A
5/26
at
102.00
N/R  
5,511,942
1,000
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Doral
Academy
of
Idaho,
Series
2021A,
5.000%,
7/15/56,
144A
7/26
at
103.00
N/R  
795,590
565
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
North
LLC,
Series
2020A,
5.250%,
7/01/55,
144A
7/25
at
100.00
N/R  
451,147
1,000
Idaho
Housing
and
Finance
Association,
Nonprofit
Facilities
Revenue
Bonds,
Gem
Prep
Meridian
South
Charter
School
Project,
Series
2021,
4.000%,
5/01/56,
144A
11/25
at
100.00
N/R  
676,950
Total
Idaho
7,435,629
Illinois
-
18.0%
(11.2%
of
Total
Investments)
296
Bolingbrook,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2005,
6.250%,
1/01/24
2020
2020
(4)
5/23
at
100.00
N/R  
289,806
10,670
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
6.000%,
4/01/46,
(UB)
(5)
4/27
at
100.00
A  
11,218,438
1,500
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Project
Series
2015C,
5.250%,
12/01/39
12/24
at
100.00
BB+  
1,508,415
4,575
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018D,
5.000%,
12/01/46
12/23
at
100.00
BB+  
4,507,702
15,385
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A,
7.000%,
12/01/44
12/25
at
100.00
BB+  
16,222,559
2,025
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
BB+  
2,128,457
9,910
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A,
7.000%,
12/01/46,
144A
12/27
at
100.00
BB+  
10,748,089
10,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2022A,
5.000%,
12/01/46
-
BAM
Insured,
(UB)
(5)
12/31
at
100.00
AA  
10,610,200
1,065
Chicago,
Illinois,
Certificates
of
Participation
Tax
Increment
Bonds,
35th
and
State
Redevelopoment
Project,
Series
2012,
6.100%,
1/15/29
5/23
at
100.00
N/R  
1,065,166
1,754
Chicago,
Illinois,
Certificates
of
Participation,
Tax
Increment
Allocation
Revenue
Bonds,
Diversey-Narragansett
Project,
Series
2006,
7.460%,
2/15/26
(4)
5/23
at
100.00
N/R  
1,280,285
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A:
5,000
4.000%,
1/01/43,
(UB)
(5)
1/29
at
100.00
A+  
4,802,200
5,000
5.000%,
1/01/48,
(UB)
(5)
1/29
at
100.00
A+  
5,134,250
4,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2016D,
5.000%,
1/01/52,
(UB)
(5)
1/27
at
100.00
A+  
4,114,640
4,000
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A,
5.500%,
1/01/43,
(UB)
(5)
1/30
at
100.00
Baa3  
4,230,680
2,000
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2014A,
5.250%,
1/01/30
1/24
at
100.00
Baa3  
2,011,700
133
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
9,400
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
6.000%,
1/01/38,
(UB)
(5)
1/27
at
100.00
BBB  
$
10,011,094
1,000
Chicago,
Illinois,
General
Obligation
Bonds,
Project
and
Refunding
Series
2005D,
0.000%,
1/01/37,
(UB)
(5)
1/25
at
100.00
Baa3  
1,020,620
130
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
5.000%,
1/01/38
1/26
at
100.00
BBB  
131,548
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A:
11,000
5.000%,
1/01/44,
(UB)
(5)
1/29
at
100.00
BBB  
10,985,150
8,000
5.500%,
1/01/49,
(UB)
(5)
1/29
at
100.00
BBB  
8,338,560
1,500
Chicago,
Illinois,
General
Obligation
Bonds,
VAribale
Rate
Demand
Series
2007F,
0.000%,
1/01/42,
(UB)
(5)
1/25
at
100.00
Baa3  
1,523,685
5,000
Illinois
Finance
Authority
Revenue
Bonds,
Ness
Healthcare
NFP,
Series
2016A,
6.375%,
11/01/46,
144A
(4)
11/26
at
100.00
N/R  
3,180,350
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Art
in
Motion
AIM
Project,
Series
2021A:
1,000
5.000%,
7/01/51,
144A
7/31
at
100.00
N/R  
776,480
1,000
5.000%,
7/01/56,
144A
7/31
at
100.00
N/R  
754,600
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C:
10,655
4.000%,
2/15/41,
(UB)
2/27
at
100.00
Aa2  
10,536,836
25
4.000%,
2/15/41,
(Pre-refunded
2/15/27),
(UB)
2/27
at
100.00
N/R  (7)
26,109
495
4.000%,
2/15/41,
(Pre-refunded
2/15/27),
(UB)
2/27
at
100.00
N/R  (7)
516,953
1,000
Illinois
Finance
Authority,
Revenue
Bonds,
DePaul
College
Prep
Foundation,
Series
2023A,
5.625%,
8/01/53,
144A
8/33
at
100.00
BB+  
993,420
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022:
550
5.000%,
3/01/36
9/32
at
100.00
BBB-  
562,237
600
5.000%,
3/01/38
9/32
at
100.00
BBB-  
602,028
700
5.000%,
3/01/40
9/32
at
100.00
BBB-  
693,665
2,000
Illinois
Finance
Authority,
Revenue
Bonds,
Roosevelt
University,
Series
2018B,
6.125%,
4/01/58,
144A
10/28
at
100.50
N/R  
1,852,960
7,955
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A,
5.500%,
3/01/47,
(UB)
(5)
3/32
at
100.00
Baa1  
8,706,986
1,715
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.750%,
5/01/45
5/30
at
100.00
BBB+  
1,879,005
Illinois
State,
General
Obligation
Bonds,
November
Series
2016:
1,000
5.000%,
11/01/35
11/26
at
100.00
Baa1  
1,034,470
1,000
5.000%,
11/01/37
11/26
at
100.00
Baa1  
1,026,850
5,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2020C,
4.250%,
10/01/45
10/30
at
100.00
Baa1  
4,842,100
10,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2021A,
4.000%,
1/01/46,
(UB)
(5)
1/32
at
100.00
AA-  
9,661,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A:
7,075
4.000%,
6/15/50
-
BAM
Insured
12/29
at
100.00
AA  
6,344,860
12,215
5.000%,
6/15/50
12/29
at
100.00
BBB  
12,351,442
4,695
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2012B,
0.000%,
12/15/50
No
Opt.
Call
BBB  
1,160,604
5,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB  
5,033,250
35,635
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B,
0.000%,
12/15/54
No
Opt.
Call
BBB  
7,071,766
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
134
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
750
Rantoul,
Champaign
County,
Illinois,
Tax
Increment
Revenue
Bonds,
Evans
Road
Series
2013B,
7.000%,
12/01/33
12/23
at
100.00
N/R  
$
750,862
17,750
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Series
2018C,
5.250%,
1/01/48,
(UB)
(5)
1/29
at
100.00
AA  
18,755,715
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Tender
Option
Bond
Trust
Series
2022-XL0294:
9,875
5.000%,
1/01/36,
(UB)
(5)
1/29
at
100.00
AA  
10,673,493
895
Yorkville
United
City
Business
District,
Illinois,
Storm
Water
and
Water
Improvement
Project
Revenue
Bonds,
Series
2007,
4.800%,
1/01/26
(4)
5/23
at
100.00
N/R  
384,850
Total
Illinois
222,056,135
Indiana
-
1.9%
(1.2%
of
Total
Investments)
865
Carmel
Redevelopment
District,
Indiana,
Tax
Increment
Revenue
Bonds,
Series
2004A,
6.650%,
7/15/24
5/23
at
100.00
N/R  
869,013
9,000
Fort
Wayne,
Indiana
Economic
Development,
Solid
Waste
Facility
Revenue
Bonds,
Do
Good
Foods
LLC
Fort
Wayne,
Series
2022A-1,
9.000%,
12/01/44,
(AMT),
144A
12/29
at
105.00
N/R  
8,939,520
1,000
Indiana
Bond
Bank,
Special
Program
Bonds,
Hendricks
Regional
Health
Project,
Tender
Option
Bond
Trust
2016-XL0019,
7.404%,
4/01/30
-
AMBAC
Insured,
144A,
(IF)
(5)
No
Opt.
Call
AA  
1,529,430
1,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Discovery
Charter
School
Project,
Series
2015A,
7.250%,
12/01/45
12/25
at
100.00
BB-  
1,031,080
7,725
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
University
of
Evansville
Project,
Series
2022A,
5.250%,
9/01/57,
(UB)
(5)
9/32
at
100.00
BBB-  
7,324,768
2,000
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
5/23
at
100.00
B1  
2,008,980
810
Saint
Joseph
County,
Indiana,
Economic
Development
Revenue
Bonds,
Chicago
Trail
Village
Apartments,
Series
2005A,
7.500%,
7/01/35
5/23
at
100.00
N/R  
811,920
1,000
Shoals,
Indiana,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,  Series
2013,
7.250%,
11/01/43,
(AMT)
11/23
at
100.00
N/R  
1,010,270
966
Terre
Haute,
Indiana,
Economic
Development
Solid
Waste
Facility
Revenue
Bonds,
Pyrolyx
USA
Indiana,
LLC
Project,
Series
2017A,
7.250%,
12/01/28,
(AMT)
2017
1
(4)
No
Opt.
Call
N/R  
10
Total
Indiana
23,524,991
Iowa
-
1.4%
(0.9%
of
Total
Investments)
17,940
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50,
(UB)
(5)
12/29
at
103.00
BBB-  
17,832,898
Total
Iowa
17,832,898
Kansas
-
0.1%
(0.0%
of
Total
Investments)
1,000
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015,
5.750%,
9/01/32
9/25
at
100.00
N/R  
939,380
Total
Kansas
939,380
Kentucky
-
3.5%
(2.2%
of
Total
Investments)
1,385
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020,
6.000%,
12/01/40
12/30
at
100.00
N/R  
1,228,176
135
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Kentucky
(continued)
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A:
$
5,450
5.000%,
6/01/41
6/27
at
100.00
BBB-  
$
5,486,134
3,300
5.000%,
6/01/45
(5)
6/27
at
100.00
BBB-  
3,307,326
12,665
5.000%,
6/01/45,
(UB)
(5)
6/27
at
100.00
BBB-  
12,693,116
1,000
Kentucky
Economic
Development
Finance
Authority,
Kentucky,
Healthcare
Facilities
Revenue
Bonds,
Christian
Care
Communities,
Inc.
Obligated
Group,
Series
2021,
5.125%,
7/01/55
7/29
at
102.00
N/R  
770,630
16,800
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A,
5.000%,
1/01/45
7/25
at
100.00
Baa2  
16,628,136
1,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B,
5.500%,
12/01/60
12/30
at
100.00
N/R  
814,010
1,000
Union
Kentucky,
Special
Obligation
Revenue
Bonds,
Union
Promenade
Project,
Series
2022B,
5.500%,
12/01/52,
144A
12/32
at
100.00
N/R  
923,330
1,000
Union,
Kentucky,
Special
Obligation
Revenue
Bonds,
Union
Promenade
Project,
Series
2022D,
5.750%,
12/01/52,
144A
12/32
at
100.00
N/R  
925,310
Total
Kentucky
42,776,168
Louisiana
-
1.1%
(0.7%
of
Total
Investments)
1,875
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.000%,
7/01/36
7/23
at
100.00
N/R  
1,877,175
500
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lake
Charles
College
Prep
Project,
Series
2019A,
5.000%,
6/01/58,
144A
6/27
at
100.00
N/R  
417,645
1,405
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Mentorship
STEAM
Academy,
Series
2021A,
5.000%,
6/01/51,
144A
6/31
at
100.00
N/R  
1,117,804
500
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Young
Audiences
Charter
School,
Series
2019A,
5.000%,
4/01/57,
144A
4/27
at
100.00
N/R  
422,180
1,765
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.500%,
7/01/36,
(AMT),
144A
7/23
at
100.00
N/R  
1,768,742
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Encore
Academy
Project,
Series
2021A:
250
5.000%,
6/01/41,
144A
6/31
at
100.00
N/R  
187,857
250
5.000%,
6/01/51,
144A
6/31
at
100.00
N/R  
170,918
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Jefferson
Rise
Charter
School
Project,
Series
2022A:
500
6.250%,
6/01/52,
144A
6/31
at
100.00
N/R  
477,460
1,000
6.375%,
6/01/62,
144A
6/31
at
100.00
N/R  
944,600
200
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2022A,
6.500%,
6/01/62,
144A
6/31
at
100.00
N/R  
197,194
1,410
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Lake
Charles
Charter
Academy
Foundation
Project,
Series
2011A,
7.750%,
12/15/31
5/23
at
100.00
N/R  
1,412,721
2,000
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Loyola
University
Project,
Refunding
Series
2017,
5.250%,
10/01/33
No
Opt.
Call
BBB  
2,143,920
2,110
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Southwest
Louisiana
Charter
Academy
Foundation
Project,
Series
2013A,
8.125%,
12/15/33
12/23
at
100.00
N/R  
2,126,795
2,000
Louisiana
Public
Facilities
Authority,
Solid
Waste
Disposal
Facility
Revenue
Bonds,  Lousiana
Pellets
Inc
Project,
Series
2015,
7.000%,
7/01/24,
(AMT),
144A
(4)
No
Opt.
Call
N/R  
20
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
136
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Louisiana
(continued)
$
540
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010,
6.350%,
7/01/40,
144A
6/30
at
100.00
BB-  
$
583,994
Total
Louisiana
13,849,025
Maryland
-
0.8%
(0.5%
of
Total
Investments)
1,595
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017,
5.000%,
9/01/42
9/27
at
100.00
CCC+  
1,537,117
4,000
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A,
5.000%,
12/01/31
(4)
5/23
at
100.00
N/R  
2,400,000
2,500
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006B,
5.250%,
12/01/31
(4)
5/23
at
100.00
N/R  
1,500,000
1,000
Maryland
Economic
Development
Corporation,
Special
Obligation
Bonds,
Port
Covington
Project,
Series
2020,
4.000%,
9/01/50
9/30
at
100.00
N/R  
826,520
5,000
Maryland
Stadium
Authority,
Lease
Revenue
Bonds,
Built
To
Learn,
Series
2021,
2.750%,
6/01/51
6/31
at
100.00
A1  
3,464,100
Total
Maryland
9,727,737
Massachusetts
-
1.1%
(0.7%
of
Total
Investments)
7,080
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2,
5.000%,
7/01/53,
(UB)
(5)
7/28
at
100.00
A3  
7,280,293
5,735
Massachusetts
Educational
Financing
Authority,
Education
Loan
Revenue
Bonds,
Issue
K,
Series
2017B,
4.250%,
7/01/46,
(AMT),
(UB)
(5)
7/26
at
100.00
A  
5,413,209
1,200
Massachusetts
Educational
Financing
Authority,
Education
Loan
Revenue
Bonds,
Issue
M,
Subordinate
Series
2021C,
3.000%,
7/01/51,
(AMT)
7/31
at
100.00
BBB  
829,176
Total
Massachusetts
13,522,678
Michigan
-
3.1%
(2.0%
of
Total
Investments)
1,740
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Social
Series
2021A,
5.000%,
4/01/46
4/31
at
100.00
BB+  
1,708,036
1,945
Michigan
Finance
Authority,
Higher
Education
Limited
Obligation
Revenue
Bonds,
Aquinas
College
Project,
Refunding
Series
2021,
5.000%,
5/01/36
5/31
at
100.00
N/R  
1,756,491
6,480
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Series
2019A,
5.000%,
11/15/48,
(UB)
(5)
11/29
at
100.00
A  
6,702,523
5,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2017A-MI,
4.000%,
12/01/40,
(UB)
(5)
12/27
at
100.00
AA-  
4,900,800
1,000
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Hanley
International
Academy,
Inc.
Project,
Refunding
Series
2021,
5.000%,
9/01/40
8/31
at
100.00
BB  
914,210
Michigan
Finance
Authority,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Hope
Academy
Project,
Refunding
Series
2021:
170
4.400%,
4/01/31,
144A
4/28
at
100.00
N/R  
145,054
315
4.900%,
4/01/41,
144A
4/28
at
100.00
N/R  
238,282
1,225
Michigan
Finance
AuthorIty,
Public
School
Academy
Limited
Obligation
Revenue
Bonds,
Voyageur
Academy
Project,
Refunding
Series
2017.
Private
Placement
of
2017,
5.900%,
7/15/46,
144A
7/27
at
100.00
N/R  
959,628
28,335
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts,
Taxable
Series
2020B,
0.000%,
6/01/45
No
Opt.
Call
BBB-  
6,639,741
137
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
Michigan
Housing
Development
Authority,
Rental
Housing
Revenue
Bonds,
Series
2015A:
$
2,225
4.350%,
10/01/45,
(UB)
(5)
10/24
at
100.00
AA  
$
2,191,091
4,500
4.600%,
4/01/52,
(UB)
(5)
10/24
at
100.00
AA  
4,500,000
1,410
Michigan
Public
Educational
Facilities
Authority,
Charter
School
Revenue
Bonds,
American
Montessori
Academy,
Series
2007,
6.500%,
12/01/37
5/23
at
100.00
N/R  
1,408,576
1,000
Michigan
Public
Educational
Facilities
Authority,
Limited
Obligation
Revenue
Bonds,  Chandler
Park
Academy
Project,
Series
2008,
6.500%,
11/01/35
5/23
at
100.00
BBB-  
1,000,790
100,000
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Capital
Appreciation
Turbo
Term
Series
2008C,
0.000%,
6/01/58
6/33
at
11.41
N/R  
4,121,000
1,000
Summit
Academy
North,
Michigan,
Revenue
Bonds,
Public
School
Academy,
Refunding
Series
2021,
4.000%,
11/01/41
11/28
at
103.00
BB  
827,230
500
Summit
Academy,
Michigan,
Revenue
Bonds,
Public
School
Academy
Series
2005,
6.375%,
11/01/35
5/23
at
100.00
CC  
200,000
535
Universal
Academy,
Michigan,
Public
School
Academy
Bonds,
Refunding
Series
2021,
4.000%,
12/01/31
12/28
at
103.00
BBB-  
509,876
Total
Michigan
38,723,328
Minnesota
-
0.9%
(0.6%
of
Total
Investments)
2,000
Bethel,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Level
Up
Academy,
Series
2021A,
5.000%,
6/15/56
6/29
at
102.00
N/R  
1,443,580
665
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A,
5.500%,
7/01/35
7/25
at
100.00
N/R  
612,764
1,000
Columbus,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
New
Millennium
Academy
Project,
Series
2015A,
6.000%,
7/01/45
7/25
at
100.00
B  
923,990
505
Greenwood,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Main
Street
School
of
Performing
Arts
Project,
Series
2016A,
5.000%,
7/01/47
7/26
at
100.00
N/R  
419,130
1,190
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Series
2022A,
5.500%,
6/01/57
6/32
at
100.00
N/R  
1,138,854
100
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Northeast
College
Prep
Project,
Series
2020A,
5.000%,
7/01/55
7/30
at
100.00
N/R  
81,346
2,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023,
5.500%,
3/01/58,
144A
3/33
at
100.00
N/R  
1,848,940
1,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A,
5.000%,
9/01/55
9/30
at
100.00
BB+  
886,640
3,000
Saint
Paul
Port
Authority,
Minnesota,
Solid
Waste
Disposal
Revenue
Bonds,
Gerdau
Saint
Paul
Steel
Mill
Project,
Series
2012-7,
4.500%,
10/01/37,
(AMT),
144A
5/23
at
100.00
BBB-  
2,852,280
Woodbury,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Woodbury
Leadership
Academy,
Series
2021A:
850
4.000%,
7/01/41
7/28
at
103.00
BB-  
688,602
575
4.000%,
7/01/56
7/28
at
103.00
BB-  
409,009
Total
Minnesota
11,305,135
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
138
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Mississippi
-
0.1%
(0.0%
of
Total
Investments)
$
500
Mississippi
Business
Finance
Corporation,
Gulf
Opportunity
Zone
Revenue
Bonds,
King
Edward
Mixed-Use
Project,
Refunding
Series
2019A,
4.250%,
10/15/49,
(Mandatory
Put
10/15/39),
144A
(4)
10/26
at
100.00
N/R  
$
362,360
523
Mississippi
Home
Corporation,
Multifamily
Housing
Revenue
Bonds,
Tupelo
Personal
Care
Apartments,
Series
2004-2,
6.125%,
9/01/34,
(AMT)
2021
04-2
6/23
at
100.00
N/R  
450,704
Total
Mississippi
813,064
Missouri
-
4.8%
(3.0%
of
Total
Investments)
7,090
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B,
5.000%,
3/01/54,
(AMT),
(UB)
(5)
3/29
at
100.00
A-  
7,265,761
5,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2020A,
5.000%,
3/01/57
-
AGM
Insured,
(AMT),
(UB)
(5)
3/30
at
100.00
A  
5,154,050
655
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016,
5.000%,
4/01/46,
144A
4/26
at
100.00
N/R  
573,223
9,740
Kansas
City,
Missouri,
Special
Obligation
Bonds,
Main
Streetcar
Expansion
Project,
Refunding
&
Improvement
Series
2022C,
4.000%,
9/01/46,
(UB)
(5)
9/32
at
100.00
A2  
9,563,414
2,000
Liberty,
Missouri,
Special
Obligation
Tax
Increment
and
Special
Districts
Bonds,
Liberty
Commons
Project,
Subordinate
Lien
Series
2015B,
8.500%,
6/15/46,
144A
6/25
at
100.00
N/R  
1,843,880
15,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020,
4.000%,
6/01/53,
(UB)
(5)
6/30
at
100.00
A+  
13,979,400
Missouri
Southern
State
University,
Auxiliary
Enterprise
System
Revenue
Bonds,
Series
2021:
1,000
4.000%,
10/01/34
10/31
at
100.00
N/R  
941,200
1,000
4.000%,
10/01/44
10/31
at
100.00
N/R  
825,750
484
North
Outer
Forty
Transportation
Development
District,
Chesterfield,
Missouri,
Transportation
Development
Revenue
Notes,
Refunding
Series
2021A,
4.000%,
12/01/46
2021
2021
No
Opt.
Call
N/R  
351,135
Saint
Louis
County,
Missouri,
Special
Obligation
Bonds,
Community
Center
Projects,
Series
2022A:
8,050
4.000%,
12/01/40,
(UB)
(5)
12/30
at
100.00
AA  
7,990,350
8,970
4.000%,
12/01/41,
(UB)
(5)
12/30
at
100.00
AA  
8,834,732
1,351
Saint
Louis,
Missouri,
Tax
Increment
Financing
Revenue
Bonds,
Fashion
Square
Redevelopment
Project,
Series
2008A,
6.300%,
8/22/26
9/23
at
100.00
N/R  
405,300
732
Saint
Louis,
Missouri,
Tax
Increment
Financing
Revenue
Bonds,
Grace
Lofts
Redevelopment
Projects,
Series
2007A,
2.700%,
12/31/26
(4)
No
Opt.
Call
N/R  
51,240
1,230
Universal
City
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Tax
Increment
and
Special
District
Markets
at
Olive
Project
Series
2023A,
5.500%,
6/15/42
6/33
at
100.00
N/R  
1,230,861
Total
Missouri
59,010,296
Nevada
-
1.2%
(0.8%
of
Total
Investments)
2,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020,
6.750%,
2/15/38,
144A
2/31
at
100.00
N/R  
1,744,520
139
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nevada
(continued)
$
1,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017,
6.250%,
12/15/37,
(AMT),
144A
12/27
at
100.00
N/R  
$
899,850
2,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
5.750%,
2/15/38,
(AMT),
144A
8/29
at
100.00
N/R  
1,590,060
920
Henderson,
Nevada,
Local
Improvement
District
No.
T-20
Rainbow
Canyon,
Local
Improvement
Bonds,
Series
2018,
5.375%,
9/01/48
9/28
at
100.00
N/R  
927,976
10,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B,
4.000%,
7/01/49,
(UB)
(5)
7/28
at
100.00
A  
9,329,200
550
North
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
64
Valley
Vista,
Series
2019,
4.625%,
6/01/49
12/28
at
100.00
N/R  
504,367
Total
Nevada
14,995,973
New
Jersey
-
4.3%
(2.7%
of
Total
Investments)
3,210
New
Jersey
Economic
Development
Authority,
Lease
Revenue
Bonds,
State
Government
Buildings-Juvenile
Justice
Commission
Facilities
Project,
Series
2018C,
5.000%,
6/15/47,
(UB)
(5)
12/27
at
100.00
BBB+  
3,332,462
2,500
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Portal
North
Bridge
Project
Series
2022A,
5.000%,
11/01/52,
(UB)
(5)
11/32
at
100.00
A-  
2,666,000
9,500
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2017DDD,
5.000%,
6/15/42,
(Pre-
refunded
6/15/27),
(UB)
(5)
6/27
at
100.00
A-  (7)
10,467,385
2,080
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Series
2000A
&
2000B,
5.625%,
11/15/30,
(AMT)
3/24
at
101.00
BB-  
2,110,992
40,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C,
0.000%,
12/15/35
-
AMBAC
Insured,
(UB)
(5)
No
Opt.
Call
A-  
24,567,600
6,790
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
5.000%,
6/15/50,
(UB)
(5)
12/30
at
100.00
A-  
7,179,542
2,200
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
BBB-  
2,190,936
Total
New
Jersey
52,514,917
New
Mexico
-
0.4%
(0.2%
of
Total
Investments)
265
Mariposa
East
Public
Improvement
District,
New
Mexico,
Revenue
Bonds,
Capital
Appreciation
Taxable
Series
2015D,
0.000%,
3/01/32
9/23
at
65.72
N/R  
124,950
45
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015A,
5.900%,
9/01/32
9/25
at
100.00
N/R  
42,378
185
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015B,
5.900%,
9/01/32
9/25
at
100.00
N/R  
176,683
330
Mariposa
East
Public
Improvement
District,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2015C,
5.900%,
9/01/32
No
Opt.
Call
N/R  
305,395
1,210
Mesa
Del
Sol
Public
Improvement
District
1,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2013,
7.250%,
10/01/43
10/23
at
100.00
N/R  
1,192,165
1,020
Volterra
Public
Improvement
District,
Albuquerque,
New
Mexico,
Special
Levy
Revenue
Bonds,
Series
2014,
6.750%,
10/01/33
10/24
at
100.00
N/R  
991,756
500
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Senior
Lien
Series
2022,
4.250%,
5/01/40,
144A
5/29
at
103.00
N/R  
420,000
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
140
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Mexico
(continued)
$
1,500
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020,
8.000%,
5/01/40,
144A
11/23
at
103.00
N/R  
$
1,349,325
Total
New
Mexico
4,602,652
New
York
-
9.9%
(6.2%
of
Total
Investments)
610
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
New
World
Preparatory
Charter
School
Project,
Series
2021A,
4.000%,
6/15/41
6/31
at
100.00
N/R  
502,176
4,350
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2015,
5.500%,
9/01/45,
144A
9/25
at
100.00
N/R  
4,350,914
1,000
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023,
7.250%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,004,520
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1:
5,000
5.250%,
6/01/40,
144A
12/30
at
100.00
N/R  
4,237,100
2,000
5.500%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,582,640
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1:
1,000
5.000%,
6/01/40,
144A
12/30
at
100.00
N/R  
822,340
2,000
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,457,740
1,000
Build
Resource
Corporation,
New
York,
Revenue
Bonds,
Shefa
School,
Series
2021A,
5.000%,
6/15/51,
144A
6/31
at
100.00
N/R  
861,250
9,000
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Northwell
Health
Obligated
Group,
Series
2022A,
4.250%,
5/01/52
-
AGM
Insured,
(UB)
(5)
5/32
at
100.00
A-  
8,974,710
3,220
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Yeshiva
University,
Series
2022A,
5.000%,
7/15/50
7/32
at
100.00
BBB-  
3,244,697
200
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017,
5.000%,
12/01/36,
144A
6/27
at
100.00
BBB-  
197,478
4,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2022A,
4.000%,
3/15/49,
(UB)
(5)
3/32
at
100.00
AA+  
3,908,520
2,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Bidding
Group
5
Series
2021E,
4.000%,
3/15/49
3/32
at
100.00
AA+  
1,954,260
1,000
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A,
5.730%,
2/01/50
2/30
at
100.00
N/R  
965,440
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2021A:
2,360
4.050%,
2/01/31
2/30
at
100.00
A2  
2,059,312
1,000
4.600%,
2/01/51
2/30
at
100.00
A2  
744,850
1,000
Madison
County
Capital
Resource
Corporation,
New
York,
Revenue
Bonds,
Cazenovia
College
Project,
Series
2019A,
5.500%,
9/01/23
(4)
9/22
at
100.00
N/R  
350,000
10,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
5.000%,
11/15/50,
(UB)
(5)
5/30
at
100.00
BBB+  
10,347,200
1,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-1,
5.000%,
11/15/43,
(UB)
(5)
11/30
at
100.00
BBB+  
1,048,590
141
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
1,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020D-3,
4.000%,
11/15/49,
(UB)
(5)
11/30
at
100.00
BBB+  
$
926,680
11,850
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Neighborhood
Green
Series
2018K,
4.125%,
11/01/53,
(UB)
(5)
9/26
at
100.00
Aa2  
10,715,481
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007:
1,500
0.000%,
10/01/37
(4)
5/23
at
100.00
N/R  
1,200,000
5,000
2.350%,
10/01/46
(4)
5/23
at
100.00
N/R  
4,000,000
170
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Special
Needs
Facilities
Pooled
Program,
Series
2008A-1,
5.800%,
7/01/23,
144A
5/23
at
100.00
N/R  
168,776
2,000
New
York
Counties
Tobacco
Trust
IV,
Tobacco
Settlement
Pass-Through
Bonds,
Turbo
Term
Series
2005A,
5.000%,
6/01/42
5/23
at
100.00
B-  
1,847,060
1,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R  
971,720
2,250
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014,
5.150%,
11/15/34,
144A
11/24
at
100.00
N/R  
2,252,565
7,000
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
3
Series
2014,
7.250%,
11/15/44,
144A
11/24
at
100.00
N/R  
7,086,450
2,000
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Series
2021A,
3.000%,
3/15/50
9/31
at
100.00
AA+  
1,552,580
15,990
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.250%,
1/01/50,
(AMT),
(UB)
(5)
7/24
at
100.00
Baa2  
16,009,348
10,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016,
5.000%,
8/01/31,
(AMT)
5/23
at
100.00
B-  
10,012,200
3,070
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
5.375%,
8/01/36,
(AMT)
8/30
at
100.00
B-  
3,105,520
1,000
Niagara
Area
Development
Corporation,
New
York,
Revenue
Bonds;
Catholic
Health
System,
Inc,
Series
2022,
4.500%,
7/01/52
7/32
at
100.00
Caa2  
724,580
5,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty
Two
Series
2022,
4.625%,
8/01/52,
(AMT),
(UB)
(5)
8/32
at
100.00
AA-  
5,143,000
855
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2,
0.000%,
6/01/66
6/31
at
27.72
N/R  
95,632
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bond,
Purchase
Senior
Learning
Community,
Inc.
Project,
Accd
Inv
Series
2021A:
5,000
4.500%,
7/01/56,
144A
7/27
at
104.00
N/R  
3,308,600
2,775
5.000%,
7/01/56,
144A
7/27
at
104.00
N/R  
2,024,196
2,475
Westchester
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Westchester
Medical
Center
Obligated
Group
Project,
Refunding
Series
2016,
5.000%,
11/01/46
11/25
at
100.00
BBB-  
2,386,519
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
142
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
250
Western
Regional
Off-Track
Betting
Corporation,
New
York,
Tax
Exempt
Revenue
Bonds,
Additional
Secured
General
Obligation
Series
2021,
4.125%,
12/01/41,
144A
6/31
at
100.00
N/R  
$
187,798
Total
New
York
122,332,442
North
Carolina
-
0.3%
(0.2%
of
Total
Investments)
10,000
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Capital
Appreciation
Series
2019,
0.000%,
1/01/48
1/30
at
55.97
AA+  
3,212,800
Total
North
Carolina
3,212,800
North
Dakota
-
0.1%
(0.0%
of
Total
Investments)
2,000
Williston,
North
Dakota,
Multifamily
Housing
Revenue
Bonds,
Eagle
Crest
Apartments
LLC
Project,
Series
2013,
7.750%,
9/01/38
(4)
9/23
at
100.00
N/R  
900,000
Total
North
Dakota
900,000
Ohio
-
4.6%
(2.9%
of
Total
Investments)
137,120
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R  
16,778,003
245
Cleveland-Cuyahoga
County
Port
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Flats
East
Bank
Project,
Refunding
Senior
Series
2021A,
4.000%,
12/01/55,
144A
12/29
at
100.00
BB  
207,314
340
Evans
Farm
New
Communty
Authority,
Ohio,
Community
Development
Charge
Revenue
Bonds,
Evans
Farm
Mixed-Use
Project,
Series
2020,
4.000%,
12/01/46
6/29
at
100.00
N/R  
268,291
1,000
Jefferson
County
Port
Authority,
Ohio,
Economic
Develoepment
Revenue
Bonds,
JSW
Steel
USA
Ohio,
Inc.
Project,
Series
2021,
3.500%,
12/01/51,
(AMT)
12/31
at
100.00
Ba1  
703,420
11,160
Montgomery
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Kettering
Health
Network
Obligated
Group,
Series
2016,
4.000%,
8/01/47,
(UB)
(5)
8/26
at
100.00
A2  
10,539,169
2,800
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/23
No
Opt.
Call
N/R  
28
3,310
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
5.000%,
7/01/49,
(AMT),
144A
7/29
at
100.00
B-  
3,060,029
365
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
9/01/23
No
Opt.
Call
N/R  
4
1,300
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
3.375%,
8/01/29,
(Mandatory
Put
9/15/21)
No
Opt.
Call
BBB-  
1,183,741
4,750
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32
(4)
No
Opt.
Call
N/R  
47
1,000
Ohio
Higher
Educational
Facility
Commission,
Senior
Hospital
Parking
Revenue
Bonds,
University
Circle
Incorporated
2020
Project,
Series
2020,
5.000%,
1/15/50
1/30
at
100.00
A3  
982,560
3,085
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generating
Corporation
Project,
Refunding
Series
2006A,
3.000%,
5/15/49
(4)
No
Opt.
Call
N/R  
31
3,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2005B,
4.000%,
1/01/34
(4)
No
Opt.
Call
N/R  
30
143
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
255
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2008B,
3.625%,
10/01/33
No
Opt.
Call
N/R  
$
3
1,015
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32
(4)
No
Opt.
Call
N/R  
10
2,725
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2010A,
3.750%,
7/01/33
(4)
No
Opt.
Call
N/R  
27
11,300
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010B,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
10,948,796
1,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Public
Improvement
TOT
Revenue
Bonds,
Series
2021,
4.250%,
12/01/50,
144A
12/28
at
100.00
N/R  
767,610
1,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A,
5.000%,
11/01/51
11/30
at
100.00
N/R  
789,750
8,500
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020A,
7.000%,
12/01/42,
(AMT),
144A
12/27
at
103.00
N/R  
6,343,720
2,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020B,
10.000%,
12/01/25,
(AMT),
144A
12/24
at
105.00
N/R  
1,911,760
2,000
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015,
6.000%,
3/01/45
3/25
at
100.00
N/R  
1,997,380
Total
Ohio
56,481,723
Oklahoma
-
1.6%
(1.0%
of
Total
Investments)
1,200
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022,
5.500%,
8/15/44
8/32
at
100.00
N/R  
1,159,176
990
Tulsa
Authority
for
Economic
Opportunity,
Tulsa
County,
Oklahoma,
Tax
Apportionment
Revenue
Bonds,
Santa
Fe
Square
Project,
Series
2021,
4.375%,
12/01/41,
144A
12/31
at
100.00
N/R  
818,978
490
Tulsa
Authority
for
Economic
Opportunity,
Tulsa
County,
Oklahoma,
Tax
Apportionment
Revenue
Bonds,
Vast
Bank
Project,
Series
2021,
4.000%,
12/01/43,
144A
12/31
at
100.00
N/R  
384,792
15,000
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2000B,
5.500%,
6/01/35,
(AMT)
6/23
at
100.00
N/R  
15,005,400
2,600
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2001B,
5.500%,
12/01/35,
(AMT)
6/23
at
100.00
N/R  
2,600,780
Total
Oklahoma
19,969,126
Oregon
-
0.1%
(0.1%
of
Total
Investments)
Clackamas
and
Washington
Counties
School
District
3JT,
Oregon,
General
Obligation
Bonds,
Series
2020A:
1,750
0.000%,
6/15/49
6/30
at
57.54
Aa1  
508,935
2,000
0.000%,
6/15/50
6/30
at
55.67
Aa1  
551,880
Total
Oregon
1,060,815
Pennsylvania
-
2.2%
(1.4%
of
Total
Investments)
2,280
Allentown
Commercial
and
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Arts
Academy
Charter
Middle
School
Foundation
Project,
Series
2022A,
5.000%,
6/15/57,
144A
6/29
at
103.00
N/R  
1,915,930
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
144
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
930
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021,
6.000%,
5/01/42,
144A
5/31
at
100.00
N/R  
$
948,907
1,250
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Project,
Subordinate
Lien,
Series
2018,
5.125%,
5/01/32,
144A
5/28
at
100.00
N/R  
1,267,575
2,500
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.500%,
4/01/41
(4)
No
Opt.
Call
N/R  
25
2,715
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35
(4)
No
Opt.
Call
N/R  
27
500
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-  
371,085
290
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,  Alvernia
University
Project,
Series
2020,
5.000%,
10/01/49
10/29
at
100.00
BB+  
257,036
1,000
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2017,
5.125%,
10/15/41,
144A
10/27
at
100.00
BB  
912,480
1,500
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020,
6.250%,
10/15/53,
144A
10/28
at
100.00
BB  
1,507,485
1,245
Lehigh
County
General
Purpose
Authority,
Pennsylvania,
Revenue
Bonds,
Good
Shepherd
Group,
Series
2021A,
4.000%,
11/01/51
11/31
at
100.00
BBB+  
1,058,599
675
Lehigh
County
Industrial
Development
Authority,
Pennsylvania,
Charter
School
Revenue
Bonds,
Seven
Generations
Charter
School,
Series
2021A,
4.000%,
5/01/31
5/30
at
100.00
BB  
630,099
7,730
Pennsylvania
Economic
Development
Financing
Authority,
5.000%,
12/31/57,
(AMT),
(UB)
(5)
12/32
at
100.00
A1  
8,088,672
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1,
10.000%,
12/01/40,
144A
6/30
at
100.00
N/R  
1,549,238
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
10.000%,
12/01/40,
(AMT),
144A
6/30
at
100.00
N/R  
1,549,238
2,970
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
No
Opt.
Call
N/R  
2,455,863
5
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
Shippingport
Project,
First
Energy
Guarantor.,
Series
2006A,
2.550%,
11/01/41
(4)
No
Opt.
Call
N/R  
0
6,650
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Refunding
Bonds,
PPL
Energy
Supply,
LLC
Project,
Series
2009A,
6.400%,
12/01/38
(4)
9/25
at
100.00
N/R  
2,128,000
1,000
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A,
5.375%,
6/15/50,
144A
12/27
at
100.00
N/R  
870,500
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Taxable
Series
2020B:
925
4.875%,
12/15/35,
144A
12/27
at
100.00
N/R  
833,749
1,000
5.125%,
12/15/44,
144A
12/27
at
100.00
N/R  
863,260
145
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
160
The
Redevelopment
Authority
of
the
City
of
Scranton,
Lackawanna
county,
Pennsylvania,
Guaranteed
Lease
Revenue
Bonds,
Series
2016A,
5.000%,
11/15/28
5/24
at
100.00
BB+  
$
157,869
Total
Pennsylvania
27,365,637
Puerto
Rico
-
10.1%
(6.3%
of
Total
Investments)
1,417
HTA
Claas
6,
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds,
Series
2022,
5.250%,
7/01/38
5/23
at
100.00
N/R  
1,417,016
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A:
2,000
5.000%,
7/01/35,
144A
7/30
at
100.00
N/R  
1,999,860
3,000
5.000%,
7/01/47,
144A
7/30
at
100.00
N/R  
2,897,760
8,625
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Federally
Taxable
Build
America
Bonds,
Series
2010YY,
4.050%,
7/01/40
(4)
5/23
at
100.00
D  
5,951,250
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A:
4,835
3.957%,
7/01/42
(4)
5/23
at
100.00
D  
3,408,675
185
3.961%,
7/01/42
(4)
5/23
at
100.00
D  
130,425
2,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2003NN,
3.999%,
7/01/20
(4)
No
Opt.
Call
D  
1,400,000
1,025
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT,
3.957%,
7/01/37
(4)
5/23
at
100.00
D  
722,625
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA:
5,690
3.978%,
7/01/23
(4)
No
Opt.
Call
N/R  
3,968,775
3,000
3.978%,
7/01/25
(4)
5/23
at
100.00
D  
2,115,000
1,186
3.978%,
7/01/28
(4)
5/23
at
100.00
D  
836,130
890
3.978%,
7/01/29
(4)
5/23
at
100.00
D  
627,450
658
3.978%,
7/01/31
(4)
5/23
at
100.00
D  
463,890
405
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC,
3.957%,
7/01/28
(4)
5/23
at
100.00
D  
285,525
1,350
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX,
3.978%,
7/01/40
(4)
5/23
at
100.00
D  
951,750
4,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ,
3.978%,
7/01/21
(4)
7/20
at
100.00
D  
2,790,000
1,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A,
4.102%,
7/01/36
(4)
7/23
at
100.00
D  
715,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
WW:
710
3.988%,
7/01/23
(4)
5/23
at
100.00
D  
499,662
360
3.988%,
7/01/23
(4)
No
Opt.
Call
N/R  
251,100
375
3.978%,
7/01/33
(4)
5/23
at
100.00
D  
264,375
5,500
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Taxable
Build
America
Bond
Series
2010EE,
4.044%,
7/01/32
(4)
5/23
at
100.00
D  
3,795,000
5,000
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/62
7/32
at
100.00
N/R  
4,829,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
42,500
0.000%,
7/01/46
7/28
at
41.38
N/R  
11,612,700
183,530
0.000%,
7/01/51
7/28
at
30.01
N/R  
37,511,697
1,250
5.000%,
7/01/58
7/28
at
100.00
N/R  
1,207,000
5,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2,
4.329%,
7/01/40
7/28
at
100.00
N/R  
4,661,500
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
146
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
$
0
(9)
5.625%,
7/01/27
No
Opt.
Call
N/R  
$
95
6,201
0.000%,
7/01/33
7/31
at
89.94
N/R  
3,626,981
6,979
4.000%,
7/01/41
7/31
at
103.00
N/R  
5,877,982
14,018
4.000%,
7/01/46
7/31
at
103.00
N/R  
11,408,587
16,579
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
2022
1
No
Opt.
Call
N/R  
7,812,884
Total
Puerto
Rico
124,039,694
Rhode
Island
-
0.2%
(0.2%
of
Total
Investments)
18,260
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A,
0.000%,
6/01/52
5/23
at
17.96
CCC-  
3,015,274
Total
Rhode
Island
3,015,274
South
Carolina
-
2.5%
(1.6%
of
Total
Investments)
550
Hardeeville,
South
Carolina,
Special
Assessment
Revenue
Bonds,
East
Argent
Improvement
District,
Series
2021,
4.000%,
5/01/52,
144A
5/29
at
100.00
N/R  
384,670
Lancaster
County,
South
Carolina,
Special
Assessment
Bonds,
Edgewater
II
Improvement
District,
Capital
Appreciation
Series
2007-A&B:
7,665
0.000%,
11/01/39
5/23
at
28.69
N/R  
1,523,266
7,895
0.000%,
11/01/39
5/23
at
28.69
N/R  
1,568,973
5,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Custodial
Receipts
CR-086,
5.000%,
8/15/36,
(Pre-refunded
8/15/26),
144A
8/26
at
100.00
N/R  (7)
5,380,100
400
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020,
5.000%,
1/01/55,
144A
1/30
at
100.00
N/R  
338,104
955
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Midland
Valley
Preparatory
School
Project,
Series
2014,
7.750%,
11/15/45,
144A
11/26
at
100.00
N/R  
1,002,549
3,000
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Patriots
Place
Apartments
Project,
Series
2022A-1,
5.750%,
6/01/52
No
Opt.
Call
N/R  
2,090,100
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A,
5.000%,
11/15/55,
144A
11/26
at
100.00
N/R  
866,570
4,215
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Lowcountry
Leadership
Charter
School
Project,
Series
2019A,
5.000%,
12/01/49,
144A
12/29
at
100.00
Baa3  
4,067,812
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Prisma
Health
Obligated
Group,
Series
2018A:
2,980
5.000%,
5/01/38,
(UB)
(5)
5/28
at
100.00
A3  
3,092,793
9,895
5.000%,
5/01/48,
(UB)
(5)
5/28
at
100.00
A3  
10,053,518
750
South
Carolina
Jobs-Economic
Development
Authority,
Retirement
Community
Revenue
Notes,
Kiawah
Life
Plan
Village,
Inc.
Project,
Series
2021A,
8.750%,
7/01/25
5/23
at
100.00
N/R  
808,530
Total
South
Carolina
31,176,985
Tennessee
-
0.7%
(0.4%
of
Total
Investments)
1,000
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A,
5.625%,
1/01/46
(4)
7/27
at
100.00
N/R  
620,840
147
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tennessee
(continued)
$
150
Metropolitan
Government
of
Nashville-Davidson
County
Industrial
Development
Board,
Tennessee,
Special
Assessment
Revenue
Bonds,
South
Nashville
Central
Business
Improvement
District,
Series
2021A,
4.000%,
6/01/51,
144A
6/31
at
100.00
N/R  
$
120,562
5,000
The
Health
and
Educational
Facilities
Board
of
the
City
of
Franklin,
Tennessee,
Revenue
Bonds,
Provision
Cares
Proton
Therapy
Center,
Nashville
Project,
Series
2017A,
7.500%,
6/01/47,
144A
(4)
6/27
at
100.00
N/R  
1,100,000
6,024
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006B,
5.625%,
9/01/26
No
Opt.
Call
BBB  
6,251,647
900
Wilson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Senior
Living
Revenue
Bonds,
Rutland
Place
Inc.
Project,
Series
2015A,
4.400%,
1/01/46,
144A
(4)
5/23
at
100.00
N/R  
598,671
Total
Tennessee
8,691,720
Texas
-
6.2%
(3.9%
of
Total
Investments)
1,000
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
First-Lien
Series
2021A,
4.000%,
10/01/50
10/31
at
100.00
BBB-  
761,690
2,000
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
Second-Lien
Series
2021B,
5.000%,
10/01/50,
144A
10/31
at
100.00
N/R  
1,668,320
1,000
Anna,
Texas,
Special
Assessment
Revenue
Bonds,
Sherley
Tract
Public
Improvement
District
2
Area
1
Project,
Series
2021,
4.000%,
9/15/41,
144A
9/31
at
100.00
N/R  
844,320
1,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Brooks
Academies,
Series
2021A,
5.000%,
6/15/51
6/26
at
100.00
N/R  
831,920
1,000
Arlington
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
-
Texas
Project,
Refunding
Series
2021A,
4.500%,
2/15/56
2/30
at
100.00
N/R  
701,400
2,500
Aubrey,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Jackson
Ridge
Public
Improvement
District
Phase
1
Project,
Series
2015,
7.250%,
9/01/45
9/23
at
103.00
N/R  
2,585,100
300
Bee
Cave,
Travis
County,
Texas,
Special
Assessment
Revenue
Bonds,
Backyard
Public
Improvement
District
Project,
Series
2021,
5.250%,
9/01/51,
144A
9/31
at
100.00
N/R  
277,617
500
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Celina
Sutton
Fields
II
Public
Improvement
District
Neighborhood
Improvement
Areas
2-3
Project,
Series
2019,
4.250%,
9/01/49,
144A
9/29
at
100.00
N/R  
426,020
995
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Creeks
of
Legacy
Public
Improvement
District
Phase
1
Project,
Series
2014,
7.000%,
9/01/40
9/23
at
102.00
N/R  
1,019,915
1,000
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
North
Sky
Public
Improvement
District
Major
Improvements
Area
Project,
Series
2023,
6.125%,
9/01/52,
144A
9/33
at
100.00
N/R  
999,890
500
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
The
Parks
at
Wilson
Creek
Public
Improvement
District
Initial
Major
Improvement
Project,
Series
2021,
4.500%,
9/01/51,
144A
9/31
at
100.00
N/R  
432,890
1,765
Comal
County
Meyer
Ranch
Municipal
Utility
District,
Texas,
General
Obligation
Bonds,  Road
Series
2021,
3.000%,
8/15/51
8/26
at
100.00
N/R  
1,165,747
675
Conroe
Local
Government
Corporation,
Texas,
Hotel
Revenue
and
Contract
Revenue
Bonds,
Subordinate
Third
Lien
Series
2021C,
4.000%,
10/01/50
10/31
at
100.00
A2  
619,103
1,000
Crandall,
Kaufman
County,
Texas,
Special
Assessment
Revenue
Bonds,
Crandall
Carwright
Ranch
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021,
4.500%,
9/15/51,
144A
9/31
at
100.00
N/R  
855,920
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
148
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2013A:
$
315
6.625%,
9/01/31,
(Pre-refunded
9/01/23)
9/23
at
100.00
N/R  (7)
$
318,200
1,000
6.375%,
9/01/42,
(Pre-refunded
9/01/23)
9/23
at
100.00
N/R  (7)
1,009,680
165
Fate,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Williamsburg
Public
Improvement
District
1
Phase
2B,
2C
&
3A1,
Series
2019,
4.250%,
8/15/49,
144A
8/27
at
100.00
N/R  
143,428
1,500
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012A.
RMKT,
4.750%,
5/01/38
5/23
at
100.00
Baa2  
1,474,200
1,000
Gulf
Coast
Industrial
Development
Authority,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Citgo
Petroleum
Corporation
Project,
Series
1998,
8.000%,
4/01/28,
(AMT)
5/23
at
100.00
B3  
1,000,800
1,450
Harris
County
Municipal
Utility
District
213A,
Texas,
General
Obligation
Bonds,
Series
2021,
3.000%,
4/01/48
4/29
at
100.00
N/R  
988,059
125
Haslett,
Texas,
Special
Assessment
Revenue
Bonds,
Haslet
Public
Improvement
District
5
Improvement
Area
1
Project,
Series
2019,
4.375%,
9/01/49,
144A
9/29
at
100.00
N/R  
109,634
705
Heart
of
Texas
Education
Finance
Corporation,
Texas,
Gateway
Charter
Academy,
Series
2006A,
6.000%,
2/15/36
5/23
at
100.00
N/R  
697,492
1,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.
-
Terminal
Improvement
Project,
Refunding
Series
2011,
6.625%,
7/15/38,
(AMT)
5/23
at
100.00
BB-  
1,002,860
500
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Durango
Farms
Public
Improvement
Project
Series
2021,
4.000%,
9/01/56,
144A
9/29
at
100.00
N/R  
395,995
500
Hutto,
Williams
County
Texas,
Special
Assessment
Revenue
Bonds,
Emory
Crossing,
Public
Improvement
Area
1
Project
Series
2021,
4.000%,
9/01/56,
144A
9/29
at
100.00
N/R  
396,030
1,000
Kaufman
County
Fresh
Water
Supply
District
1-D,
Texas,
General
Obligation
Road
Bonds,
Series
2021,
3.000%,
9/01/46
9/26
at
100.00
N/R  
693,820
4,000
Legato
Community
Authority,
Commerce
City,
Texas,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
2,
3
&
7,
Convertible
Capital
Appreciation
Series
2021A-2,
5.000%,
12/01/51
6/26
at
100.67
N/R  
2,578,440
1,000
Legato
Community
Authority,
Commerce
City,
Texas,
Limited
Tax
Supported
Revenue
Bonds,
District
1,
2,
3
&
7,
Series
2021B,
8.250%,
12/15/51
6/26
at
103.00
N/R  
902,370
1,435
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Improvement
Area
1-2
Project,
Series
2021,
4.000%,
9/15/51,
144A
9/31
at
100.00
N/R  
1,165,450
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Manor
Heights
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2021:
900
4.125%,
9/15/41,
144A
9/31
at
100.00
N/R  
772,947
1,500
4.375%,
9/15/51,
144A
9/31
at
100.00
N/R  
1,252,905
1,170
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement  District
Improvement
Area
2
Project,
Series
2019,
4.250%,
9/15/39,
144A
9/29
at
100.00
N/R  
1,083,759
Mesquite,
Texas,
Special
Assessment
Bonds,
Iron
Horse
Public
Improvement
District
Project,
Series
2019:
300
5.750%,
9/15/39,
144A
9/29
at
100.00
N/R  
303,159
500
6.000%,
9/15/49,
144A
9/29
at
100.00
N/R  
508,410
149
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
1,965
Mission
Economic
Development
Corporation,
Texas,
Water
Supply
Revenue
Bonds,
Enviro
Water
Minerals
Project,
Green
Bonds,
Series
2015,
7.750%,
1/01/45,
(AMT),
144A
2045
2045
(4)
1/26
at
102.00
N/R  
$
39,304
1,125
Missouri
City
Management
District
1,
Fort
Bend
County,
Texas,
General
Obligation  Bonds,
Road
Series
2021,
3.000%,
9/01/46
9/27
at
100.00
N/R  
861,424
20,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1,
5.500%,
1/01/57
1/28
at
103.00
N/R  
14,351,400
1,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
San
Antonio
1,
L.L.C.
-
Texas
A&M
University
-
San
Antonio
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R  (7)
1,059,520
1,000
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Galveston-
Texas
A&M
University
at
Galveston
Project,
Series
2014A,
5.000%,
4/01/44,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (7)
1,015,500
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
NCCD
-
College
Station
Properties
LLC
-
Texas
A&M
University
Project,  Series
2015A:
1,250
5.000%,
7/01/35
(4)
7/25
at
100.00
Caa2  
1,062,500
2,445
5.000%,
7/01/47
(4)
7/25
at
100.00
Caa2  
2,078,250
500
North
Parkway
Municipal
Management
District
1,
Celina,
Texas,
Special
Assessment
Revenue
Bonds,
Major
Improvements
Project,
Series
2021,
5.000%,
9/15/51,
144A
9/31
at
100.00
N/R  
465,680
10,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2021B,
3.000%,
1/01/46,
(UB)
(5)
1/31
at
100.00
A2  
7,740,800
1,070
Oak
Point,
Denton
County,
Texas,
Special
Assessment
Revenue
Bonds,
Oak
Point
Public
Imporvement
District
2
Project,
Series
2020,
4.000%,
9/01/50,
144A
9/30
at
100.00
N/R  
872,992
250
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
A
Improvement
Area
1
Project,
Series
2022,
5.625%,
9/15/52,
144A
9/32
at
100.00
N/R  
248,203
325
Pilot
Point,
Texas,
Special
Assessment
Revenue
Bonds,
Creekview
Public
Improvement
District
Zone
B
Improvement
Area
1
Project,
Series
2022,
5.625%,
9/15/52,
144A
9/32
at
100.00
N/R  
322,663
2,000
Plano,
Collin
and
Denton
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Collin
Creek
East
Public
Improvement
District
Project,
Series
2021,
4.375%,
9/15/51,
144A
9/31
at
100.00
N/R  
1,642,660
1,000
Plano,
Collin
and
Denton
Counties,
Texas,
Special
Assessment
Revenue
Bonds,
Collin
Creek
West
Public
Improvement
District
Project,
Series
2021,
4.000%,
9/15/51,
144A
9/31
at
100.00
N/R  
800,320
440
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2020,
4.000%,
1/01/50,
(AMT),
144A
5/23
at
102.00
N/R  
314,490
8,000
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021A,
3.000%,
1/01/50,
(AMT),
144A
7/23
at
103.00
N/R  
4,681,120
Port
Freeport,
Brazoria
County,
Texas,
Revenue
Bonds,
Senior
Lien
Series
2019A:
1,650
4.000%,
6/01/38,
(AMT)
6/29
at
100.00
A+  
1,552,534
1,620
4.000%,
6/01/39,
(AMT)
6/29
at
100.00
A+  
1,506,811
1,000
Princeton,
Collins
County,
Texas,
Special
Assessment
Revenue
Bonds,
Winchester
Public
Improvement
District
2
Project,
Series
2022,
5.250%,
9/01/52
9/30
at
100.00
N/R  
972,010
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
150
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
205
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
1
Project,
Series
2019,
4.750%,
9/01/49,
144A
9/29
at
100.00
N/R  
$
189,147
185
Princeton,
Texas,
Special
Assessment
Revenue
Bonds,
Whitewing
Trails
Public
Improvement
District
2
Phase
2-6
Major
Improvement
Project,
Series
2019,
5.500%,
9/01/39,
144A
9/29
at
100.00
N/R  
187,747
2,000
Red
River
Health
Facilities
Development
Corporation,
Texas,
First
Mortgage
Revenue
Bonds,
Eden
Home
Inc.,
Series
2012,
7.000%,
12/15/32
(4)
5/23
at
100.00
N/R  
1,200,000
145
Rowlett,
Texas,
Special
Assessment
Revenue
Bonds,
Bayside
Public
Improvement
District
North
Improvement
Area,
Series
2016,
5.750%,
9/15/36
3/24
at
102.00
N/R  
144,249
3,195
Texas
Department
of
Housing
and
Community
Affairs,
Single
Family
Mortgage
Revenue
Bonds,
Series
2018A,
4.250%,
9/01/48,
(UB)
9/27
at
100.00
AA+  
3,184,680
Total
Texas
76,481,494
Utah
-
0.5%
(0.3%
of
Total
Investments)
2,500
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.000%,
3/01/51,
144A
9/26
at
103.00
N/R  
1,896,050
1,000
Black
Desert
Public
Infrastructure
District,
Utah,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2021B,
7.375%,
9/15/51,
144A
9/26
at
103.00
N/R  
823,720
1,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
and
Hotel
Tax
Revenue
Bonds,
Series
2021A-1,
4.000%,
6/01/52
9/26
at
103.00
N/R  
723,130
2,000
ROAM
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.250%,
3/01/51,
144A
9/26
at
103.00
N/R  
1,526,500
985
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A,
5.125%,
7/15/51,
144A
1/25
at
102.00
N/R  
762,410
1,000
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Providence
Hall
Projects,
Refunding
Serier
2021A,
4.000%,
10/15/51
10/31
at
100.00
Aa2  
900,450
Total
Utah
6,632,260
Virgin
Islands
-
1.2%
(0.7%
of
Total
Investments)
2,375
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/39
10/32
at
100.00
N/R  
2,338,306
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2014C:
1,000
5.000%,
10/01/30,
144A
10/24
at
100.00
N/R  
898,320
5,000
5.000%,
10/01/39,
144A
10/24
at
100.00
N/R  
3,913,900
3,000
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Senior
Series
2021A,
6.750%,
7/01/26,
144A
No
Opt.
Call
N/R  
2,881,860
3,085
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Taxable
Series
2022A,
7.750%,
7/01/24
No
Opt.
Call
N/R  
3,023,639
215
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Taxable
Series
2022B,
10.000%,
7/01/24
No
Opt.
Call
N/R  
213,214
1,480
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022B,
6.250%,
10/01/42,
(AMT),
144A
10/29
at
104.00
N/R  
1,456,853
Total
Virgin
Islands
14,726,092
151
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virginia
-
3.8%
(2.4%
of
Total
Investments)
$
762
Celebrate
Virginia
North
Community
Development
Authority,
Special
Assessment
Revenue
Bonds,
Series
2003B,
4.125%,
3/01/22
(4)
No
Opt.
Call
N/R  
$
495,300
1,000
Cutalong
II
Community
Development
Authority,
Louisa
County,
Virginia,
Special
Assessment
Revenue
Bonds,
Cutalong
II
Project,
Series
2022,
4.500%,
3/01/55,
144A
3/27
at
103.00
N/R  
799,600
640
Farms
of
New
Kent
Community
Development
Authority,
Virginia,
Special
Assessment
Bonds,
Refunding
Series
2021A,
3.750%,
3/01/36,
144A
3/31
at
100.00
N/R  
604,141
15,000
Industrial
Development
Authority
of
the
City
of
Newport
News,
Virginia,
Health
System
Revenue
Bonds,
Riverside
Health
System,
Series
2017A,
5.000%,
7/01/46,
144A
7/27
at
100.00
N/R  
15,157,800
11,495
Lynchburg
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Centra
Health
Obligated
Group,
Refunding
Series
2021,
4.000%,
1/01/55,
(UB)
(5)
1/32
at
100.00
Baa1  
10,296,646
1,000
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1,
5.000%,
6/01/47
5/23
at
100.00
B-  
938,730
7,000
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019A,
5.500%,
7/01/54,
144A
7/34
at
100.00
N/R  
6,300,350
8,111
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019B,
6.525%,
7/01/52,
144A
,
(cash
7.500%,
PIK
7.500%)
No
Opt.
Call
N/R  
7,610,536
4,665
Virginia
Small
Business
Financing
Authority,
Sports
and
Entertainment
Facilities
Revenue
Bonds,
P3
VB
Holdings
LLC,
Senior
Series
2023A,
8.500%,
12/01/52,
144A
6/33
at
105.00
N/R  
4,452,043
550
West
Falls
Community
Development
Authority,
Arlington
County,
Virginia,
Revenue
Bonds,
Series
2022A,
5.375%,
9/01/52,
144A
9/32
at
100.00
N/R  
551,754
Total
Virginia
47,206,900
Washington
-
0.4%
(0.3%
of
Total
Investments)
1,000
King
County
Public
Hospital
District
4,
Washington,
Hospital
Revenue
Bonds,
Snoqualmie
Valley
Hospital,
Series
2015A,
6.250%,
12/01/45
12/25
at
100.00
N/R  
1,027,710
1,000
Kitsap
County
Consolidated
Housing
Authority,
Washington,
Pooled
Tax
Credit
Housing
Revenue
Bonds,
Series
2007,
5.600%,
6/01/37,
(AMT)
5/23
at
100.00
N/R  
944,230
1,300
Port
of
Seattle
Industrial
Development
Corporation,
Washington,
Special
Facilities
Revenue
Refunding
Bonds,
Delta
Air
Lines,
Inc.
Project,
Series
2012,
5.000%,
4/01/30,
(AMT)
5/23
at
100.00
BB  
1,300,650
2,500
Seattle
Housing
Authority,
Washington,
Revenue
Bonds,
Lam
Bow
Apartments
Project,
Series
2021,
2.500%,
6/01/54
6/31
at
100.00
AA  
1,564,525
180
Tacoma
Consolidated
Local
Improvement
District
65,
Washington,
Special
Assessment
Bonds,
Series
2013,
5.750%,
4/01/43
5/23
at
100.00
N/R  
174,020
3,065
Washington
Economic
Development
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Columbia
Pulp
I,
LLC
Project,  Series
2017A,
7.500%,
1/01/32,
(AMT),
144A
(4),(6)
1/28
at
100.00
N/R  
31
545
Washington
Economic
Development
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Columbia
Pulp
I,
LLC
Project,  Series
2018,
7.250%,
1/01/32,
(AMT),
144A
(4),(6)
1/28
at
100.00
N/R  
5
1,565
Washington
Economic
Development
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Columbia
Pulp
I,
LLC
Project,  Series
2019A,
7.500%,
1/01/32,
(AMT),
144A
(4),(6)
1/28
at
100.00
N/R  
16
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
152
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Washington
(continued)
$
1,000
Washington
Economic
Development
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Columbia
Pulp
I,
LLC
Project,
Senior
Series
2021A,
12.000%,
1/01/33,
(AMT),
144A
(4),(6)
No
Opt.
Call
N/R  
$
265,200
255
Washington
Economic
Development
Finance
Authority,
Environmental
Facilities
Revenue
Bonds,
Columbia
Pulp
I,
LLC
Project,
Taxable
Senior
Series
2021B,
14.250%,
1/01/27,
144A
(4),(6)
No
Opt.
Call
N/R  
67,626
Total
Washington
5,344,013
West
Virginia
-
0.3%
(0.2%
of
Total
Investments)
1,294
Berkeley,
Hardy
and
Jefferson
Counties,
West
Virginia,
as
Joint
Issuers,
Commercial
Development
Revenue
Bonds,
Scattered
Site
Housing
Projects,
Series
2010,
5.750%,
12/01/44
12/23
at
100.00
N/R  
1,259,631
1,125
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A,
5.750%,
6/01/43,
144A
6/27
at
100.00
N/R  
1,150,324
950
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2021A,
4.125%,
6/01/43,
144A
6/31
at
100.00
N/R  
845,377
975
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020,
7.625%,
12/01/40,
144A
12/27
at
103.00
N/R  
785,645
Total
West
Virginia
4,040,977
Wisconsin
-
8.5%
(5.3%
of
Total
Investments)
2,500
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A,
5.500%,
12/01/32,
144A
12/26
at
100.00
N/R  
2,081,150
2,000
Lac
Courte
Oreilles
Band
of
Lake
Superior
Chippewa
Indians,
Wisconsin,
General
Revenue
Bonds,
Refunding
Series
2017,
6.750%,
6/01/32
12/27
at
100.00
N/R  
1,790,820
255
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Ascend
Leadership
Academy
Project,
Series
2021A,
5.000%,
6/15/51,
144A
6/29
at
100.00
N/R  
202,574
850
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Coral
Academy
of
Science,
Reno,
Series
2021A,
4.000%,
6/01/51,
144A
6/27
at
100.00
N/R  
610,589
150
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Founders
Academy
of
Las
Vegas,
Series
2020A,
5.000%,
7/01/55,
144A
7/28
at
100.00
BB-  
129,289
2,015
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Guilford
Preparatory
Academy,
North
Carolina,
Taxable
Series
2022A,
5.000%,
4/01/57,
144A
4/31
at
100.00
N/R  
1,681,437
1,000
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
High
Desert
Montessori
Charter
School,
Series
2021A,
5.000%,
6/01/51,
144A
6/29
at
100.00
N/R  
860,140
4,985
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A,
5.000%,
6/15/46,
144A
6/26
at
100.00
N/R  
3,831,820
500
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Point
College
Preparatory,
Series
2020A,
5.000%,
6/15/55,
144A
6/27
at
103.00
N/R  
396,570
153
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1:
$
13
0.000%,
1/01/47,
144A
(4)
No
Opt.
Call
N/R  
$
276
11
0.000%,
1/01/48,
144A
(4)
No
Opt.
Call
N/R  
230
11
0.000%,
1/01/49,
144A
(4)
No
Opt.
Call
N/R  
214
10
0.000%,
1/01/50,
144A
(4)
No
Opt.
Call
N/R  
193
10
0.000%,
1/01/51,
144A
(4)
No
Opt.
Call
N/R  
180
13
0.000%,
1/01/52,
144A
(4)
No
Opt.
Call
N/R  
219
13
0.000%,
1/01/53,
144A
(4)
No
Opt.
Call
N/R  
206
13
0.000%,
1/01/54,
144A
(4)
No
Opt.
Call
N/R  
188
13
0.000%,
1/01/55,
144A
(4)
No
Opt.
Call
N/R  
174
12
0.000%,
1/01/56,
144A
(4)
No
Opt.
Call
N/R  
163
667
5.500%,
7/01/56,
144A
(4)
3/28
at
100.00
N/R  
374,147
14
0.000%,
1/01/57,
144A
(4)
No
Opt.
Call
N/R  
171
13
0.000%,
1/01/58,
144A
(4)
No
Opt.
Call
N/R  
158
13
0.000%,
1/01/59,
144A
(4)
No
Opt.
Call
N/R  
147
13
0.000%,
1/01/60,
144A
(4)
No
Opt.
Call
N/R  
135
12
0.000%,
1/01/61,
144A
(4)
No
Opt.
Call
N/R  
126
12
0.000%,
1/01/62,
144A
(4)
No
Opt.
Call
N/R  
116
12
0.000%,
1/01/63,
144A
(4)
No
Opt.
Call
N/R  
108
12
0.000%,
1/01/64,
144A
(4)
No
Opt.
Call
N/R  
101
11
0.000%,
1/01/65,
144A
(4)
No
Opt.
Call
N/R  
93
12
0.000%,
1/01/66,
144A
(4)
No
Opt.
Call
N/R  
94
148
0.000%,
1/01/67,
144A
(4)
No
Opt.
Call
N/R  
1,023
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B:
24
0.000%,
1/01/46,
144A
(4)
No
Opt.
Call
N/R  
567
24
0.000%,
1/01/47,
144A
(4)
No
Opt.
Call
N/R  
520
24
0.000%,
1/01/48,
144A
(4)
No
Opt.
Call
N/R  
492
23
0.000%,
1/01/49,
144A
(4)
No
Opt.
Call
N/R  
463
23
0.000%,
1/01/50,
144A
(4)
No
Opt.
Call
N/R  
425
25
0.000%,
1/01/51,
144A
(4)
No
Opt.
Call
N/R  
443
651
1.000%,
7/01/51,
144A
(4)
3/28
at
100.00
N/R  
378,409
25
0.000%,
1/01/52,
144A
(4)
No
Opt.
Call
N/R  
411
25
0.000%,
1/01/53,
144A
(4)
No
Opt.
Call
N/R  
386
25
0.000%,
1/01/54,
144A
(4)
No
Opt.
Call
N/R  
362
24
0.000%,
1/01/55,
144A
(4)
No
Opt.
Call
N/R  
338
24
0.000%,
1/01/56,
144A
(4)
No
Opt.
Call
N/R  
319
24
0.000%,
1/01/57,
144A
(4)
No
Opt.
Call
N/R  
299
23
0.000%,
1/01/58,
144A
(4)
No
Opt.
Call
N/R  
280
23
0.000%,
1/01/59,
144A
(4)
No
Opt.
Call
N/R  
265
23
0.000%,
1/01/60,
144A
(4)
No
Opt.
Call
N/R  
248
23
0.000%,
1/01/61,
144A
(4)
No
Opt.
Call
N/R  
231
23
0.000%,
1/01/62,
144A
(4)
No
Opt.
Call
N/R  
217
22
0.000%,
1/01/63,
144A
(4)
No
Opt.
Call
N/R  
204
22
0.000%,
1/01/64,
144A
(4)
No
Opt.
Call
N/R  
193
22
0.000%,
1/01/65,
144A
(4)
No
Opt.
Call
N/R  
180
22
0.000%,
1/01/66,
144A
(4)
No
Opt.
Call
N/R  
165
281
0.000%,
1/01/67,
144A
(4)
No
Opt.
Call
N/R  
1,947
4,700
Public
Finance
Authority
of
Wisconsin,
Contract
Revenue
Bonds,
Mercer
Crossing
Public
Improvement
District
Project,
Series
2017,
7.000%,
3/01/47,
144A
3/27
at
100.00
N/R  
4,882,078
1,500
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Pioneer
Springs
Community
School,
Series
2020A,
6.250%,
6/15/40,
144A
6/27
at
100.00
N/R  
1,339,260
1,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A,
5.000%,
6/01/56,
144A
6/28
at
100.00
N/R  
817,750
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
154
NMZ
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
2,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lake
Erie
College,
Series
2019A,
5.875%,
10/01/54,
144A
10/29
at
100.00
N/R  
$
1,684,620
1,550
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021,
5.000%,
8/01/51,
144A
8/28
at
100.00
N/R  
1,259,375
3,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
Lenoir-Rhyne
University,
Refunding
Series
2022,
5.125%,
4/01/52
4/32
at
100.00
BBB  
2,902,380
335
Public
Finance
Authority
of
Wisconsin,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company
Project,
Refunding
Series
2016,
4.000%,
8/01/35,
(AMT)
8/26
at
100.00
N/R  
293,895
1,275
Public
Finance
Authority
of
Wisconsin,
Hospital
Revenue
Bonds,
Carson
Valley
Medical
Center,
Series
2021A,
4.000%,
12/01/41
12/31
at
100.00
BB+  
1,034,994
5,000
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Senior
Lien
Series
2022A,
5.000%,
2/01/62
2/32
at
100.00
BBB-  
4,931,750
6,665
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B,
6.000%,
2/01/62,
144A
2/32
at
100.00
N/R  
6,745,380
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A:
1,665
3.125%,
8/01/27,
144A
(4)
No
Opt.
Call
N/R  
1,271,644
1,000
6.750%,
8/01/31,
144A
(4)
No
Opt.
Call
N/R  
550,000
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017:
2,000
6.750%,
12/01/42,
144A
12/27
at
100.00
N/R  
1,735,140
20,835
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R  
18,096,031
400
Public
Finance
Authority
of
Wisconsin,
Retirement
Facility
Revenue
Bonds,
Shalom
Park
Development
Project,
Series
2019,
0.000%,
12/31/24,
144A
No
Opt.
Call
N/R  
24,000
3,500
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Gulf
Coast
Zoo,
Series
2018A,
6.500%,
9/01/48,
144A
9/28
at
100.00
N/R  
2,284,730
500
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017A,
7.000%,
10/01/47,
144A
(4)
10/27
at
100.00
N/R  
300,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A:
4,415
6.950%,
7/01/38,
144A
7/28
at
100.00
N/R  
3,598,181
6,585
7.000%,
7/01/48,
144A
7/28
at
100.00
N/R  
5,372,438
1,060
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2015,
5.875%,
4/01/45
4/25
at
100.00
BB  
1,076,865
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
SearStone
Retirement
Community,
Series
2023A:
1,000
5.000%,
6/01/37
6/28
at
103.00
N/R  
922,770
4,000
5.000%,
6/01/52
6/28
at
103.00
N/R  
3,238,040
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021:
1,200
4.000%,
7/01/41,
(AMT)
7/31
at
100.00
N/R  
939,072
2,485
4.250%,
7/01/54,
(AMT)
7/31
at
100.00
N/R  
1,822,375
1,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Wonderful
Foundations
Charter
School
WFCS
Portfolio
Projects,
Senior
Series
2021A-1,
5.000%,
1/01/56,
144A
1/31
at
100.00
N/R  
756,640
2,500
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Fargo-
Moorhead
Metropolitan
Area
Flood
Risk
Management
P3
Project,
Green
Series
2021,
4.000%,
3/31/56,
(AMT)
9/31
at
100.00
Baa3  
2,009,325
155
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1:
$
1,000
6.125%,
1/01/33,
144A
1/28
at
100.00
N/R  
$
615,000
2,000
6.250%,
1/01/38,
144A
1/28
at
100.00
N/R  
1,230,000
3,500
6.375%,
1/01/48,
144A
1/28
at
100.00
N/R  
2,152,500
91
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Minnesota
College
of
Osteopathic
Medicine,
Senior
Series
2019A-1,
0.000%,
12/01/48,
144A
(4)
12/28
at
100.00
N/R  
28,301
815
Public
Finance
Authority,
Wisconsin,
Revenue
Bonds,
Ocean
Academy
Charter
School,
Series
2021,
5.000%,
10/15/56,
144A
10/31
at
100.00
N/R  
679,661
1,000
Saint
Croix
Chippewa
Indians
of
Wisconsin,
Revenue
Bonds,
Refunding
Senior
Series
2021,
5.000%,
9/30/41,
144A
9/28
at
100.00
N/R  
757,510
7,250
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2017C,
5.000%,
2/15/47,
(UB)
(5)
2/27
at
100.00
BBB+  
7,215,345
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2016A:
1,400
4.000%,
11/15/46,
(Pre-refunded
5/15/26),
(UB)
5/26
at
100.00
N/R  (7)
1,442,224
3,600
4.000%,
11/15/46,
(UB)
5/26
at
100.00
AA+  
3,396,744
6,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Medical
College
of
Wisconsin,
Inc.,
Series
2016,
4.000%,
12/01/46,
(UB)
(5)
11/26
at
100.00
N/R  
5,685,600
Total
Wisconsin
105,441,833
Total
Municipal
Bonds
(cost
$2,073,287,035)
1,913,010,441
Shares
Description
(1)
Value
X
61,354,392
COMMON
STOCKS
-
5.0%
(3.1%
of
Total
Investments)
X
61,354,392
Independent
Power
and
Renewable
Electricity
Producers
-
4.7%
(2.9%
of
Total
Investments)
750,823
Energy
Harbor
Corp
(10),(11)
$
58,251,101
Total
Independent
Power
and
Renewable
Electricity
Producers
58,251,101
Passenger
Airlines
-
0.3%
(0.2%
of
Total
Investments)
227,514
American
Airlines
Group
Inc
(11),(12)
3,103,291
Total
Passenger
Airlines
3,103,291
Total
Common
Stocks
(cost
$27,440,409)
61,354,392
Principal
Amount
(000)
Description
(1)
Coupon
(13)
Reference
Rate
(13)
Spread
(13)
Maturity
(14)
Ratings
(3)
Value
11,547
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0.0%
(0.0%
of
Total
Investments)
(13)
X
11,547
Hotels,
Restaurants
&
Leisure
-
0.0%
(0.0%
of
Total
Investments)
$
12
Lombard
Starwood
Westin
Hotel
Conference
Center
and
Hotel
Project
Revenue
Bonds
,
(cash
7.500%,
PIK
7.500%)(6),(15)
7.500%
N/A
N/A
12/31/23
N/R
$
11,547
Total
Hotels,
Restaurants
&
Leisure
11,547
Total
Variable
Rate
Senior
Loan
Interests
(cost
$11,547)
11,547
Nuveen
Municipal
High
Income
Opportunity
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
156
NMZ
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
357,097
CORPORATE
BONDS
-
0.0%
(0.0%
of
Total
Investments)
X
357,097
Machinery
-
0.0%
(0.0%
of
Total
Investments)
$
357
Columbia
Pulp
I
LLC
(6)
16.000%
8/31/23
N/R
$
357,097
Total
Machinery
357,097
Total
Corporate
Bonds
(cost
$357,097)
357,097
Total
Long-Term
Investments
(cost
$2,101,096,088)
1,974,733,477
Floating
Rate
Obligations
-
(34.8)%
(
428,766,000
)
AMTP
Shares,
Net-
(28.9)%(16)
(
356,487,158
)
Other
Assets
&
Liabilities,
Net
-   3.7%
44,376,884
Net
Assets
Applicable
to
Common
Shares
-
100%
$
1,233,857,203
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
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.
(4)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(5)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(6)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(7)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(8)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(9)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(10)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006A,
3.500%,
4/01/41,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35,
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/20,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
3/01/23,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008C,
3.950%,
11/01/32,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2005B,
4.000%,
1/01/34,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006A,
3.000%,
5/15/20,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2008B,
3.625%,
10/01/33,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2008C,
3.950%,
11/01/32,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010A,
3.750%,
7/01/33,
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
Shippingport
Project,
First
Energy
Guarantor,
Series
2006A,
2.550%,
11/01/41.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not  currently
satisfied).
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra.  The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023.  In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
Nuveen
expects
these
shares
to
be
issued
in
a
private
transaction
and
may
have
reduced
secondary
market
liquidity.  The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(11)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(12)
On
November
28,
2011,
AMR
Corp.
("AMR"),
the
parent
company
of
American
Airlines
Group,
Inc.
("AAL")
filed
for
federal
bankruptcy
protection.
On
December
9,
2013,
AMR
emerged
from
federal
bankruptcy
with
the
acceptance
of
its
reorganization
plan
by
the
bankruptcy
court.
Under
the
settlement
agreement
to
meet
AMR's
unsecured
bond
obligations,
the
bondholders
including
the
Fund,
received
a
distribution
of
AAL
preferred
stock
which
was
converted
to
AAL
common
stock
over
a
120-day
period.
Every
30
days,
a
quarter
of
the
preferred
stock
was
converted
to
AAL
common
stock
based
on
the
5-day
volume-weighted
average
price
and
the
amount
of
preferred
shares
tendered
during
the
optional
preferred
conversion
period.
(13)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
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.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
157
(14)
Senior
loans
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
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(15)
Senior
loan
received
as
part
of
the
bondholder
funding
agreement
during
March
2022
for
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1,
0.000%,
7/01/56,
144A.
(16)
AMTP
Shares,
Net
as
a
percentage
of
Total
Investments
is
18.1%
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.
AMT
Alternative
Minimum
Tax
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
N/A
Not
Applicable.
PIK
Payment-in-kind
(“PIK”)
security.  Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both.  The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
See
Notes
to
Financial
Statements
158
Nuveen
Municipal
Credit
Opportunities
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
169.2%  
(100.0%
of
Total
Investments) 
X
1,038,832,643
MUNICIPAL
BONDS
-
158.7%
(93.8%
of
Total
Investments)
X
1,038,832,643
Alabama
-
5.8%
(3.5%
of
Total
Investments)
$
395
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
6.375%,
11/01/50,
(AMT),
(Mandatory
Put
11/01/30)
No
Opt.
Call
B1  
$
434,828
36,450
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2019,
5.750%,
10/01/49,
(AMT)
10/29
at
100.00
B1  
37,013,517
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A:
427
4.500%,
5/01/32,
144A
2021
2021
5/29
at
100.00
N/R  
391,831
500
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R  
442,500
Total
Alabama
38,282,676
Arizona
-
5.4%
(3.2%
of
Total
Investments)
4,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Leman
Academy
of
Excellence
?
East
Tucson
&
Central
Tucson
Projects,
Series
2019A,
5.000%,
7/01/49,
144A
7/24
at
101.00
N/R  
3,551,920
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2019:
1,860
5.000%,
7/01/49,
144A
7/29
at
100.00
BB+  
1,717,133
1,500
5.000%,
7/01/54,
144A
7/29
at
100.00
BB+  
1,359,735
340
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy-Cadence
Campus
Project,
Series
2020A,
4.000%,
7/15/40,
144A
7/28
at
100.00
BB+  
288,096
1,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Gateway
Academy
Project,
Series
2019A,
5.750%,
1/01/50,
144A
1/30
at
100.00
N/R  
868,140
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Taxable
Series
2019B:
2,000
5.000%,
7/01/39,
144A
7/29
at
100.00
Ba2  
1,924,740
5,355
5.000%,
7/01/49,
144A
7/29
at
100.00
Ba2  
4,781,426
1,525
5.000%,
7/01/54,
144A
7/29
at
100.00
Ba2  
1,336,098
315
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020,
5.500%,
10/01/51,
144A
10/27
at
103.00
N/R  
312,741
11,400
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
El
Paso
Electric
Company,
Refunding
Series
2009A,
3.600%,
2/01/40
6/29
at
100.00
Baa2  
10,114,992
600
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Basis
Schools,
Inc.
Projects,
Series
2016A,
5.000%,
7/01/35,
144A
7/25
at
100.00
BB  
601,908
280
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Northwest
Christian
School
Project,
Series
2020A,
5.000%,
9/01/55,
144A
9/30
at
100.00
Ba2  
225,750
2,700
Phoenix
Industrial
Development
Authority,
Arizona,
Lease
Revenue
Bonds,
Guam
Facilities
Foundation,
Inc.
Project,
Series
2014,
5.375%,
2/01/41
2/24
at
100.00
B+  
2,700,081
159
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
500
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2019,
5.000%,
6/15/52,
144A
6/25
at
100.00
N/R  
$
447,910
1,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019,
5.875%,
7/01/51,
144A
7/26
at
103.00
N/R  
1,000,490
50
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Imagine
East
Mesa
Charter
Schools
Project,
Series
2019,
5.000%,
7/01/49,
144A
7/26
at
100.00
N/R  
45,330
380
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020,
5.250%,
6/15/50,
144A
6/28
at
100.00
N/R  
341,563
1,000
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Convertible
Capital
Appreciation
Revenue
Bonds,
Series
2021A,
5.375%,
10/01/56
10/29
at
103.00
N/R  
707,240
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A:
2,205
6.000%,
10/01/37,
144A
10/27
at
100.00
N/R  
1,563,742
2,350
6.125%,
10/01/52,
144A
10/27
at
100.00
N/R  
1,434,111
Total
Arizona
35,323,146
Arkansas
-
0.7%
(0.4%
of
Total
Investments)
4,835
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
5.450%,
9/01/52,
(AMT),
144A
9/25
at
105.00
BB-  
4,827,554
Total
Arkansas
4,827,554
California
-
6.7%
(3.9%
of
Total
Investments)
3,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
K
Street
Flats,
Series
2021A-2,
4.000%,
8/01/50,
144A
8/32
at
100.00
N/R  
2,218,800
4,500
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A,
5.000%,
2/01/50,
144A
2/30
at
100.00
N/R  
3,732,570
1,555
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-2,
0.000%,
6/01/55
6/30
at
26.72
N/R  
264,381
1,530
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
and
Language
Academy
Project,
Series
2020,
6.250%,
7/01/58,
144A
7/27
at
102.00
N/R  
1,439,133
4,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Simpson
University,
Series
2020A,
6.000%,
10/01/50,
144A
10/27
at
103.00
N/R  
4,035,400
1,385
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A,
5.125%,
7/01/55,
144A
7/28
at
100.00
N/R  
1,112,141
320
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A,
5.000%,
11/15/51,
144A
11/29
at
102.00
N/R  
274,592
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Encore
Education
Obligated
Group,
Series
2016A:
4,020
5.000%,
6/01/42,
144A
6/26
at
100.00
N/R  
3,278,632
4,380
5.000%,
6/01/52,
144A
6/26
at
100.00
N/R  
3,350,262
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Arts
in
Action
Charter
Schools
-
Obligated
Group,
Series
2020A:
1,410
5.000%,
6/01/50,
144A
6/27
at
100.00
N/R  
1,093,413
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
160
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
1,200
5.000%,
6/01/59,
144A
6/27
at
100.00
N/R  
$
894,336
1,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
?
Obligated
Group,
Series
2020A,
5.000%,
6/01/60,
144A
6/28
at
100.00
N/R  
742,670
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A:
1,480
5.000%,
12/01/41,
144A
6/26
at
100.00
BB  
1,474,983
10,090
5.250%,
12/01/56,
144A
6/26
at
100.00
BB  
9,674,594
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
51
5.750%,
7/01/24
(4),(5)
1/22
at
100.00
N/R  
50,904
1
5.750%,
7/01/30
(4),(5)
1/22
at
100.00
N/R  
644
24
5.750%,
7/01/35
(4),(5)
1/22
at
100.00
N/R  
24,405
40
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005G,
5.500%,
7/01/24
2022
2022
(4),(5)
1/22
at
100.00
N/R  
39,950
18
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005H,
5.750%,
7/01/25
(4),(5)
1/22
at
100.00
N/R  
18,203
25,000
California
Statewide
Financing
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Pooled
Tobacco
Securitization
Program,
Series
2006A,
0.000%,
6/01/46
5/23
at
24.21
N/R  
6,040,000
2,500
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Vineyard
Gardens
Apartments,
Senior
Lien
Series
2021A,
3.250%,
10/01/58,
144A
4/32
at
100.00
N/R  
1,699,900
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2,
4.000%,
12/01/58
6/32
at
100.00
N/R  
1,498,700
615
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Lien
Private
Activity
Series
2021A,
5.000%,
5/15/39,
(AMT)
5/31
at
100.00
AA-  
662,576
Total
California
43,621,189
Colorado
-
11.7%
(6.9%
of
Total
Investments)
3,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
5.750%,
12/01/51
12/28
at
103.00
N/R  
2,716,890
2,000
Bradley
Heights
Metropolitan
District
2,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3,
4.750%,
12/01/51
9/26
at
103.00
N/R  
1,510,100
963
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.000%,
12/01/35
6/24
at
103.00
N/R  
765,855
1,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.000%,
12/01/49
6/24
at
103.00
N/R  
777,060
1,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Convertible
to
Senior
Capital
Appreciation
Series
2019B,
7.500%,
12/01/49
6/24
at
79.97
N/R  
611,150
500
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017,
5.375%,
10/01/37
10/27
at
100.00
N/R  
441,440
161
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
3,145
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Belle
Creek
Charter
School,
Series
2022A,
5.250%,
3/15/52,
144A
3/32
at
100.00
Ba2  
$
2,966,679
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Loveland
Classical
Schools
Project,
Series
2016:
525
3.750%,
7/01/26,
144A
No
Opt.
Call
BB+  
503,024
500
5.000%,
7/01/36,
144A
7/26
at
100.00
BB+  
484,955
10,170
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Rocky
Mountain
Classical
Academy
Project,
Refunding
Series
2019,
5.000%,
10/01/59,
144A
10/27
at
100.00
Ba1  
9,081,810
2,100
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A,
5.250%,
11/01/52,
(UB)
(6)
11/32
at
100.00
Baa1  
2,209,515
1,000
Copper
Ridge
Metropolitan
District,
Colorado
Springs,
Colorado,
Tax
Increment
and
Sales
Tax
Supported
Revenue
Bonds,
Series
2019,
5.000%,
12/01/39
12/24
at
103.00
N/R  
930,580
2,000
Crossroads
Metropolitan
District
1,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/51
12/29
at
103.00
N/R  
1,925,880
14,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
0.000%,
12/01/49
(7)
3/25
at
93.28
N/R  
10,081,260
5,500
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.000%,
12/01/49
3/25
at
103.00
N/R  
4,865,740
1,075
Indy
Oak
Tod
Metropolitan
District,
Lakewood,
Jefferson
County,
Colorado,
Limited
Tax  General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A,
5.500%,
12/01/50,
144A
6/25
at
103.00
N/R  
1,014,768
500
Iron
Mountain
Metropolitan
District
2,
Windsor,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R  
443,885
500
Johnstown
North
Metropolitan
District
2,
Johnstown,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2022A,
7.000%,
8/15/52
12/27
at
103.00
N/R  
508,615
1,000
Lanterns
Metropolitan
District
2,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A-3,
4.500%,
12/01/50
9/26
at
103.00
N/R  
726,080
2,000
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022,
7.375%,
11/01/52,
144A
11/29
at
103.00
N/R  
1,997,600
500
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016,
4.000%,
12/01/26
12/25
at
100.00
N/R  
486,165
1,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3,
5.250%,
12/01/50
12/25
at
103.00
N/R  
900,660
515
North
Vista
Highlands
Metropolitan
District
3,
Pueblo
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
5.125%,
12/01/49
3/25
at
103.00
N/R  
473,367
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019:
5,000
5.000%,
12/01/39
12/24
at
103.00
N/R  
4,805,000
5,000
5.000%,
12/01/49
12/24
at
103.00
N/R  
4,529,900
1,000
Palisade
Metropolitan
District
2,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2019,
7.250%,
12/15/49
12/24
at
103.00
N/R  
919,150
705
Penrith
Park
Metropolitan
District,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R  
641,571
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
162
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
4,445
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
N/R  
$
4,189,057
5,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A,
6.750%,
12/01/52
12/29
at
103.00
N/R  
4,947,200
1,200
Sky
Ranch
Community
Authority
Board,
Arapahoe
County,
Colorado,
Limited
Tax
Supported
District
1
Revenue
Bonds,
Senior
Series
2019A,
5.000%,
12/01/49
12/24
at
102.00
N/R  
1,163,904
806
Sky
Ranch
Community
Authority
Board,
Arapahoe
County,
Colorado,
Limited
Tax
Supported
District
1
Revenue
Bonds,
Subordinate
Series
2019B,
7.625%,
12/15/49
12/24
at
102.00
N/R  
840,311
500
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
improvement
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R  
452,355
1,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022,
6.750%,
12/01/53
12/27
at
103.00
N/R  
1,013,510
760
Talon
Pointe
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Refunding
&
Improvement
Series
2019A,
5.250%,
12/01/51
12/25
at
103.00
N/R  
591,310
Thompson
Crossing
Metropolitan
District
4,
Johnstown,
Larimer
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
&
Improvement
Series
2019:
1,400
5.000%,
12/01/39
9/24
at
103.00
N/R  
1,328,796
2,125
5.000%,
12/01/49
9/24
at
103.00
N/R  
1,880,030
1,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/51
3/26
at
103.00
N/R  
805,160
1,000
Ward
TOD
Metropolitan
District
1,
Wheat
Ridge,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R  
907,240
1,000
Willow
Bend
Metropolitan
District,
City
of
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A,
5.000%,
12/01/49
9/24
at
103.00
N/R  
899,500
Total
Colorado
76,337,072
District
of
Columbia
-
3.3%
(2.0%
of
Total
Investments)
87,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
5/23
at
24.22
N/R  
20,095,260
1,998
District
of
Columbia,
Revenue
Bonds,
Saint
Paul
on
Fouth
Street,
Inc.,
Series
2019A,
5.250%,
5/15/55,
144A
5/30
at
100.00
N/R  
1,665,533
Total
District
of
Columbia
21,760,793
Florida
-
26.1%
(15.5%
of
Total
Investments)
Academical
Village
Community
Development
District,
Davie,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020:
2,000
3.625%,
5/01/40
5/30
at
100.00
N/R  
1,617,100
1,000
4.000%,
5/01/51
5/30
at
100.00
N/R  
770,030
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020:
140
5.000%,
12/15/35,
144A
7/26
at
100.00
N/R  
135,412
100
5.000%,
12/15/50,
144A
7/26
at
100.00
N/R  
85,983
163
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
100
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
Land
O'Lakes
Project,
Series
2020A,
5.000%,
12/15/49,
144A
12/30
at
100.00
Ba1  
$
91,099
1,950
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A,
5.125%,
7/01/39,
144A
1/29
at
100.00
N/R  
1,870,187
725
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Provision
CARES
Proton
Therapy
Center,
Orlando
Project,
Series
2018,
7.500%,
6/01/48,
144A
2018
1
(4)
6/28
at
100.00
N/R  
94,248
1,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Tuscan
Gardens
Senior
Living
Community
Project,
Series
2015A,
7.000%,
4/01/49
(4)
5/23
at
102.00
N/R  
762,000
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017:
1,490
5.625%,
8/01/37,
144A
8/24
at
103.00
N/R  
1,164,495
3,735
5.875%,
8/01/52,
144A
8/24
at
103.00
N/R  
2,630,934
2,085
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Ave
Maria
University,
Refunding
Series
2013A,
6.125%,
6/01/43
6/23
at
100.00
BBB-  
2,089,545
170
Cypress
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2019,
4.125%,
11/01/50
11/29
at
100.00
N/R  
136,440
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2018A-1:
1,000
5.500%,
11/01/39,
144A
11/29
at
100.00
N/R  
1,018,780
1,000
5.750%,
11/01/49,
144A
11/29
at
100.00
N/R  
1,013,790
5,675
Escambia
County
Health
Facilities
Authority,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Baptist
Health
Care
Corporation
Obligated,
Series
2020A,
4.000%,
8/15/45
2/30
at
100.00
BBB  
5,073,223
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Miami
Arts
Charter
School
Projects,
Series
2014:
165
5.000%,
6/15/24,
144A
No
Opt.
Call
N/R  
161,819
2,500
5.875%,
6/15/34,
144A
6/24
at
100.00
N/R  
2,203,825
5,795
6.000%,
6/15/44,
144A
6/24
at
100.00
N/R  
4,769,169
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
of
Pasco
County
Inc.,
Series
2020A:
2,435
5.000%,
1/01/40,
144A
1/27
at
100.00
N/R  
2,292,942
500
5.000%,
1/01/50,
144A
1/27
at
100.00
N/R  
450,380
1,575
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Southwest
Charter
Foundation
Inc
Projects,
Series
2017A,
6.000%,
6/15/37,
144A
6/27
at
100.00
N/R  
1,475,192
40,325
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Brightline
Passenger
Rail
Project,
Green
Series
2019B,
7.375%,
1/01/49,
(AMT),
144A
1/24
at
107.00
N/R  
38,335,768
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
8,535
6.250%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/24),
144A
5/23
at
101.00
N/R  
8,480,376
3,200
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
5/23
at
102.00
N/R  
3,043,040
42,090
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
5/23
at
102.00
N/R  
39,722,437
7,500
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023A,
7.500%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
5/23
at
100.00
N/R  
7,371,375
10,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2022A,
7.250%,
7/01/57,
(AMT),
(Mandatory
Put
10/03/23),
144A
5/23
at
103.00
N/R  
10,127,700
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
164
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
3,000
Florida
Development
Finance
Corporation,
Senior
Living
Revenue
Bonds,
Glenridge
on
Palmer
Ranch
Project,
Refunding
Series
2021,
5.000%,
6/01/51,
144A
6/28
at
103.00
N/R  
$
2,377,200
1,070
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A,
5.250%,
6/15/27
5/23
at
100.00
BB  
1,052,687
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A:
1,000
5.375%,
12/01/32,
144A
5/23
at
105.00
N/R  
817,820
1,100
5.625%,
12/01/37,
144A
5/23
at
105.00
N/R  
848,298
1,300
5.750%,
12/01/52,
144A
5/23
at
105.00
N/R  
893,568
690
LT
Ranch
Community
Development
District,
Sarasota
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019,
4.000%,
5/01/40
5/30
at
100.00
N/R  
594,476
2,425
Mandarin
Grove
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022,
6.625%,
5/01/53,
144A
5/42
at
100.00
N/R  
2,524,231
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017:
1,260
5.000%,
7/01/26
No
Opt.
Call
BB+  
1,211,503
1,000
5.000%,
7/01/27
No
Opt.
Call
BB+  
949,710
1,410
Miami
World
Center
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2017,
5.125%,
11/01/39
11/27
at
100.00
N/R  
1,412,073
2,410
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022,
6.200%,
5/01/53,
144A
11/30
at
100.00
N/R  
2,457,670
2,135
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds,  Assessment
Area
4
Series
2021,
3.250%,
5/01/32
No
Opt.
Call
N/R  
1,892,613
4,935
North
Springs
Improvement
District,
Browaard
County,
Florida,
Special
Assessment
Bonds,
Area
C,
Series
2017,
5.000%,
5/01/38
5/28
at
100.00
N/R  
4,919,307
500
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Capital
Appreciation
Series
2019A-2,
0.000%,
10/01/54
10/29
at
40.38
BBB-  
88,050
100
Parker
Road
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refudning
Series
2020,
3.875%,
5/01/40
5/30
at
100.00
N/R  
83,766
125
Portico
Community
Development
District,
Lee
County,
Florida,
Special  Assessment,
Refunding
Improvement
Series
2020-1,
3.500%,
5/01/37
5/30
at
100.00
N/R  
103,369
2,325
Saint
Johns
County
Industrial
Development
Authority,
Florida,
First
Mortgage
Revenue
Bonds,
Presbyterian
Retirement
Communities
Obligated
Group
Project,
Series
2020A,
4.000%,
8/01/55
8/25
at
103.00
A-  
1,841,935
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A:
3,970
5.500%,
11/15/49
11/26
at
103.00
N/R  
3,079,886
2,440
5.750%,
11/15/54
11/26
at
103.00
N/R  
1,931,260
2,390
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-1,
4.750%,
5/01/50
5/29
at
100.00
N/R  
2,136,254
70
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-2,
4.750%,
5/01/29
No
Opt.
Call
N/R  
69,907
1,645
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-1,
6.375%,
11/01/47
11/31
at
100.00
N/R  
1,696,604
165
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
410
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
1,
Series
2017,
4.000%,
5/01/27
No
Opt.
Call
N/R  
$
404,727
900
Westside
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2019,
4.125%,
5/01/38,
144A
5/29
at
100.00
N/R  
809,316
Total
Florida
171,183,519
Georgia
-
2.0%
(1.2%
of
Total
Investments)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1:
1,250
6.500%,
1/01/29
(4)
1/28
at
100.00
N/R  
562,500
7,030
6.750%,
1/01/35
(4)
1/28
at
100.00
N/R  
3,163,500
18,430
7.000%,
1/01/40
(4)
1/28
at
100.00
N/R  
8,293,500
441
Georgia
Local
Governments,
Certificates
of
Participation,
Georgia
Municipal
Association,
Series
1998A,
4.750%,
6/01/28
-
NPFG
Insured
No
Opt.
Call
Baa2  
468,099
850
White
County
Development
Authority,
Georgia,
Revenue
Bonds
Truett
McConnell
University,
Series
2019,
5.125%,
10/01/39
10/26
at
103.00
N/R  
758,277
Total
Georgia
13,245,876
Guam
-
0.3%
(0.2%
of
Total
Investments)
2,105
Guam
Government,
General
Obligation
Bonds,
Series
2019,
5.000%,
11/15/31,
(AMT)
5/29
at
100.00
BB-  
2,202,840
Total
Guam
2,202,840
Hawaii
-
0.2%
(0.1%
of
Total
Investments)
1,150
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Chaminade
University
of
Honolulu,
Series
2015A,
5.000%,
1/01/45,
144A
1/25
at
100.00
Ba3  
987,839
Total
Hawaii
987,839
Illinois
-
15.1%
(8.9%
of
Total
Investments)
2,800
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
5.000%,
1/01/38,
(UB)
(6)
1/26
at
100.00
BBB  
2,833,348
5,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
5.500%,
1/01/49,
(UB)
(6)
1/29
at
100.00
BBB  
5,211,600
3,965
Chicago,
Illinois,
General
Obligation
Bonds,
VAribale
Rate
Demand
Series
2007F,
0.000%,
1/01/42,
(UB)
(6)
1/25
at
100.00
Baa3  
4,027,607
325
Evergreen
Park,
Cook
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Evergreen
Plaza
Development
Project,
Senior
Lien
Series
2019A,
4.375%,
12/01/36,
144A
12/29
at
100.00
N/R  
278,301
10,000
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Refunding
Series
2018A,
4.125%,
5/15/47,
(UB)
(6)
11/28
at
100.00
A  
9,376,800
10,850
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017,
5.250%,
5/15/54
5/24
at
103.00
N/R  
7,865,707
5,000
Illinois
Finance
Authority,
Student
Housing
Revenue
Bonds,
CHF-
Collegiate
Housing
Foundation
-
Cook
LLC
Northeastern
Illinois
University
Project,
Series
2015A,
5.000%,
7/01/47
7/25
at
100.00
B-  
4,110,550
9,945
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A,
5.500%,
3/01/47,
(UB)
(6)
3/32
at
100.00
Baa1  
10,885,101
4,840
Illinois
State,
General
Obligation
Bonds,
May
Series
2018A,
5.000%,
5/01/32
5/28
at
100.00
Baa1  
5,208,421
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
166
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
890
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.500%,
5/01/39
5/30
at
100.00
Baa1  
$
974,835
14,600
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D,
5.000%,
11/01/28
11/27
at
100.00
BBB+  
15,679,816
7,935
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A,
5.000%,
6/15/50
12/29
at
100.00
BBB  
8,023,634
10,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2012B,
0.000%,
12/15/50
-
AGM
Insured
No
Opt.
Call
A1  
2,680,200
4,565
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB  
4,595,357
39,815
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B,
0.000%,
12/15/56
-
AGM
Insured
No
Opt.
Call
BBB  
7,819,268
12,500
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1,
0.000%,
6/15/44
-
AGM
Insured
No
Opt.
Call
BBB  
4,716,125
500
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019,
5.000%,
1/01/39
1/26
at
100.00
N/R  
458,675
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021:
425
4.000%,
10/01/39
-
BAM
Insured
4/31
at
100.00
Ba1  
403,448
800
4.000%,
10/01/40
-
BAM
Insured
4/31
at
100.00
Ba1  
749,336
700
4.000%,
10/01/41
-
BAM
Insured
4/31
at
100.00
Ba1  
652,645
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Second
Lien
Series
2020A:
150
4.000%,
1/01/38
1/30
at
100.00
AA-  
149,115
120
4.000%,
1/01/39
1/30
at
100.00
AA-  
118,339
1,000
Yorkville
United
City
Business
District,
Illinois,
Storm
Water
and
Water
Improvement
Project
Revenue
Bonds,
Series
2007,
4.800%,
1/01/26
(4)
5/23
at
100.00
N/R  
430,000
870
Yorkville
United
City,
Kendall
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Kendall
Marketplace
Project,
Series
2007,
6.000%,
1/01/26
2007
650569
5/23
at
100.00
N/R  
870,083
770
Yorkville,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2006-113
Cannoball
&
Beecher,
Series
2007,
5.750%,
3/01/28
5/23
at
100.00
N/R  
770,077
Total
Illinois
98,888,388
Indiana
-
1.3%
(0.8%
of
Total
Investments)
140
Anderson,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Sweet
Galilee
at
the
Wigwam
Project,
Series
2020A,
5.375%,
1/01/40,
144A
1/27
at
102.00
N/R  
112,973
2,700
Fort
Wayne,
Indiana
Economic
Development,
Solid
Waste
Facility
Revenue
Bonds,
Do
Good
Foods
LLC
Fort
Wayne,
Series
2022A-1,
9.000%,
12/01/44,
(AMT),
144A
12/29
at
105.00
N/R  
2,681,856
3,105
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Earlham
College,
Refunding
Series
2013A,
5.000%,
10/01/32
10/23
at
100.00
N/R  
3,109,006
500
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
6.750%,
5/01/39,
(AMT)
11/30
at
100.00
B1  
561,785
2,325
Valparaiso,
Indiana,
Exempt
Facilitiies
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Series
2013,
7.000%,
1/01/44,
(AMT)
1/24
at
100.00
N/R  
2,370,686
Total
Indiana
8,836,306
167
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Iowa
-
1.1%
(0.7%
of
Total
Investments)
$
6,540
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012,
4.750%,
8/01/42
5/23
at
100.00
BB+  
$
6,307,568
1,100
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50
12/29
at
103.00
BBB-  
1,093,433
Total
Iowa
7,401,001
Kansas
-
1.1%
(0.7%
of
Total
Investments)
1,365
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015,
5.750%,
9/01/32
9/25
at
100.00
N/R  
1,282,253
6,475
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Village
East
Project
Areas
2B
3
and
5,
Series
2022,
5.750%,
3/01/41,
144A
3/29
at
103.00
N/R  
6,142,509
Total
Kansas
7,424,762
Louisiana
-
1.3%
(0.8%
of
Total
Investments)
3,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Entergy
Lousiana,
LLC
Project,
Refunding
Series
2021B,
2.500%,
4/01/36
4/26
at
100.00
A  
2,483,820
260
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lake
Charles
College
Prep
Project,
Series
2019A,
5.000%,
6/01/58,
144A
6/27
at
100.00
N/R  
217,175
2,365
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Franciscan
Missionaries
of
Our
Lady
Health
System,
Series
2017A,
5.000%,
7/01/47
7/27
at
100.00
A  
2,403,526
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Tulane
University,
Refunding
Series
2020A:
235
4.000%,
4/01/50,
(Pre-refunded
4/01/30)
4/30
at
100.00
N/R  (8)
256,413
15
4.000%,
4/01/50
4/30
at
100.00
A+  
14,415
200
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2008,
6.100%,
6/01/38,
(Mandatory
Put
6/01/30),
144A
No
Opt.
Call
BB-  
215,814
1,235
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010,
6.350%,
7/01/40,
144A
6/30
at
100.00
BB-  
1,335,615
800
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010A,
6.350%,
10/01/40,
144A
6/30
at
100.00
BB-  
865,176
695
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010B,
6.100%,
12/01/40,
(Mandatory
Put
6/01/30),
144A
No
Opt.
Call
BB-  
749,954
Total
Louisiana
8,541,908
Maryland
-
0.5%
(0.3%
of
Total
Investments)
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017:
1,480
5.000%,
9/01/24
No
Opt.
Call
CCC+  
1,473,681
1,000
5.000%,
9/01/39
9/27
at
100.00
CCC+  
988,890
680
5.000%,
9/01/46
9/27
at
100.00
CCC+  
640,927
Total
Maryland
3,103,498
Massachusetts
-
0.7%
(0.4%
of
Total
Investments)
1,620
Lowell,
Massachusetts,
Collegiate
Charter
School
Revenue
Bonds,
Series
2019,
5.000%,
6/15/54
6/26
at
100.00
N/R  
1,470,814
3,900
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2017,
5.000%,
7/01/47
7/27
at
100.00
B-  
3,124,758
Total
Massachusetts
4,595,572
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
168
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
-
0.5%
(0.3%
of
Total
Investments)
$
40
Advanced
Technology
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2019,
5.000%,
11/01/44
11/27
at
102.00
BB+  
$
36,006
74,130
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Capital
Appreciation
Turbo
Term
Series
2008C,
0.000%,
6/01/58
6/33
at
11.41
N/R  
3,054,897
Total
Michigan
3,090,903
Minnesota
-
1.0%
(0.6%
of
Total
Investments)
500
Bethel,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Partnership
Academy
Project,
Series
2018A,
5.000%,
7/01/53
7/26
at
102.00
N/R  
413,825
1,300
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A,
5.750%,
7/01/46
7/25
at
100.00
N/R  
1,126,853
2,440
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A,
5.000%,
7/01/54
7/27
at
102.00
N/R  
2,064,460
130
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Friendship
Academy
of
the
Arts
Project,
Series
2019A,
5.250%,
12/01/52,
144A
12/27
at
100.00
N/R  
111,169
30
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Northeast
College
Prep
Project,
Series
2020A,
5.000%,
7/01/40
7/30
at
100.00
N/R  
26,810
2,040
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Academy,
Series
2022A,
5.875%,
6/01/57,
144A
6/30
at
102.00
N/R  
1,892,080
1,000
Scanlon,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Duluth
Health
Services
Project,
Refunding
Series
2020,
3.950%,
3/01/50
3/25
at
101.00
N/R  
681,950
Total
Minnesota
6,317,147
Mississippi
-
0.4%
(0.2%
of
Total
Investments)
2,285
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A,
5.000%,
9/01/46
(WI/DD,
Settling
5/15/23)
9/26
at
100.00
BBB+  
2,296,174
Total
Mississippi
2,296,174
Missouri
-
0.2%
(0.1%
of
Total
Investments)
315
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016,
4.000%,
8/01/38
8/26
at
100.00
Ba3  
235,412
1,500
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B,
5.000%,
2/01/50,
144A
2/28
at
100.00
N/R  
1,095,285
Total
Missouri
1,330,697
Nevada
-
2.8%
(1.6%
of
Total
Investments)
9,385
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2018,
6.950%,
2/15/38,
(AMT),
144A
8/28
at
100.00
N/R  
8,433,079
2,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020,
6.750%,
2/15/38,
144A
2/31
at
100.00
N/R  
1,744,520
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017:
1,810
5.875%,
12/15/27,
(AMT),
144A
2021
2021
No
Opt.
Call
N/R  
1,852,823
340
6.250%,
12/15/37,
(AMT),
144A
12/27
at
100.00
N/R  
305,949
2,750
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
5.750%,
2/15/38,
(AMT),
144A
8/29
at
100.00
N/R  
2,186,333
169
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nevada
(continued)
$
28,000
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Capital
Appreciation
Bonds,
ReTrac-Reno
Transportation
Rail
Access
Corridor
Project,
Series
2018C,
0.000%,
7/01/58,
144A
7/38
at
31.26
N/R  
$
3,591,280
Total
Nevada
18,113,984
New
Hampshire
-
0.1%
(0.0%
of
Total
Investments)
470
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018C,
4.875%,
11/01/42,
(AMT),
144A
7/23
at
100.00
B  
410,188
Total
New
Hampshire
410,188
New
Jersey
-
3.8%
(2.2%
of
Total
Investments)
4,000
New
Jersey
Economic
Development
Authority
Revenue
Bonds,
Black
Horse
EHT
Urban
Renewal
LLC
Project,
Series
2019A,
5.000%,
10/01/39,
144A
10/27
at
102.00
N/R  
2,902,000
1,500
New
Jersey
Economic
Development
Authority,
Fixed
Rate
Revenue
Bonds,
Lions
Gate
Project,
Series
2014,
5.000%,
1/01/34
1/24
at
100.00
N/R  
1,364,205
5,475
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
White
Horse
HMT
Urban
Renewal
LLC
Project,
Series
2020,
5.000%,
1/01/40,
144A
1/28
at
102.00
N/R  
3,940,960
7,500
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Refunding
Series
2012,
5.750%,
9/15/27,
(AMT)
5/23
at
100.00
BB-  
7,521,450
15,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A,
0.000%,
12/15/39
No
Opt.
Call
A-  
7,101,300
South
Jersey
Port
Corporation,
New
Jersey,
Marine
Terminal
Revenue
Bonds,
Subordinate
Series
2017B:
1,260
5.000%,
1/01/37,
(AMT)
1/28
at
100.00
A3  
1,295,229
500
5.000%,
1/01/42,
(AMT)
1/28
at
100.00
A3  
508,450
Total
New
Jersey
24,633,594
New
Mexico
-
1.2%
(0.7%
of
Total
Investments)
9,500
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A,
3.000%,
8/01/48
8/29
at
100.00
Aa3  
7,295,240
825
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020,
8.000%,
5/01/40,
144A
11/23
at
103.00
N/R  
742,129
Total
New
Mexico
8,037,369
New
York
-
11.7%
(6.9%
of
Total
Investments)
950
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014,
5.250%,
11/01/34
11/24
at
100.00
BB-  
860,586
2,910
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1,
5.500%,
6/01/55,
144A
12/30
at
100.00
N/R  
2,302,741
1,590
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1,
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,158,903
450
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2018A,
4.000%,
8/01/38
8/28
at
100.00
BBB-  
383,679
36,150
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/01/60,
144A
5/23
at
6.22
N/R  
2,058,020
650
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A,
5.730%,
2/01/50
2/30
at
100.00
N/R  
627,536
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
170
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
1,570
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
5.250%,
11/15/55
5/30
at
100.00
BBB+  
$
1,650,902
5,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2014A-1,
5.250%,
11/15/39
11/23
at
100.00
BBB+  
5,010,100
380
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Academy
of
Health
Sciences
Charter
School
Project,
Social
Impact
Series
2022,
5.875%,
7/01/52,
144A
7/32
at
100.00
N/R  
370,143
7,250
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R  
7,044,970
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014:
3,235
5.150%,
11/15/34,
144A
11/24
at
100.00
N/R  
3,238,688
6,960
5.375%,
11/15/40,
144A
11/24
at
100.00
N/R  
6,965,359
1,740
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.250%,
1/01/50,
(AMT)
7/24
at
100.00
Baa2  
1,742,105
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016:
6,690
5.000%,
8/01/26,
(AMT)
5/23
at
100.00
B-  
6,694,817
8,000
5.000%,
8/01/31,
(AMT)
5/23
at
100.00
B-  
8,009,760
875
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
5.375%,
8/01/36,
(AMT)
8/30
at
100.00
B-  
885,124
1,450
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
5.000%,
10/01/35,
(AMT)
10/30
at
100.00
BB+  
1,530,837
10,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2,
0.000%,
6/01/66
6/31
at
27.72
N/R  
1,118,500
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A:
2,950
5.000%,
1/01/32,
(AMT)
1/26
at
100.00
C  
2,259,257
4,000
5.000%,
1/01/33,
(AMT)
1/26
at
100.00
C  
3,049,680
3,320
5.000%,
1/01/35,
(AMT)
1/26
at
100.00
C  
2,458,095
2,775
5.000%,
1/01/36,
(AMT)
1/26
at
100.00
C  
2,054,194
16,200
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006,
5.000%,
6/01/48
6/27
at
100.00
N/R  
15,021,126
Total
New
York
76,495,122
North
Dakota
-
0.2%
(0.1%
of
Total
Investments)
1,500
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C,
5.000%,
6/01/48
6/28
at
100.00
BB+  
1,233,405
Total
North
Dakota
1,233,405
Ohio
-
10.7%
(6.3%
of
Total
Investments)
69,235
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R  
8,471,595
195
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
3.000%,
6/01/48
6/30
at
100.00
BBB+  
143,432
171
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
13,070
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2,
5.000%,
6/01/55
6/30
at
100.00
N/R  
$
12,200,976
7,610
Cleveland,
Ohio,
Airport
Special
Revenue
Bonds,
Continental
Airlines
Inc.
Project,
Series
1998,
5.375%,
9/15/27,
(AMT)
5/23
at
100.00
BB-  
7,631,764
Evans
Farm
New
Communty
Authority,
Ohio,
Community
Development
Charge
Revenue
Bonds,
Evans
Farm
Mixed-Use
Project,
Series
2020:
2,170
3.750%,
12/01/38
6/29
at
100.00
N/R  
1,767,443
140
4.000%,
12/01/46
6/29
at
100.00
N/R  
110,473
4,500
Franklin
County
Convention
Facilities
Authority,
Ohio,
Hotel
Project
Revenue
Bonds,
Greater
Columbus
Convention
Center
Hotel
Expansion
Project,
Series
2019,
5.000%,
12/01/51
12/29
at
100.00
BBB-  
4,212,360
905
Hilliard
Hickory
Chase
Community
Authority,
Ohio,
Infustructure
Improvement
Revenue
Bonds,
Hickory
Chase
Project,
Senior
Series
2019A,
5.000%,
12/01/40,
144A
12/29
at
100.00
N/R  
822,084
3,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013,
5.000%,
2/15/48
5/23
at
100.00
Ba2  
2,637,270
5,020
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/23
No
Opt.
Call
N/R  
50
11,950
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
5.000%,
7/01/49,
(AMT),
144A
7/29
at
100.00
B-  
11,047,536
2,085
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
9/01/23
No
Opt.
Call
N/R  
21
4,140
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.750%,
12/01/23
(4)
No
Opt.
Call
N/R  
41
16,350
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-  
15,841,842
2,010
Ohio
State,
Private
Activity
Bonds,
Portsmouth
Gateway
Group,
LLC
-
Borrower,
Portsmouth
Bypass
Project,
Series
2015,
5.000%,
12/31/35
-
AGM
Insured,
(AMT)
6/25
at
100.00
A-  
2,030,060
2,470
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generating
Corporation
Project,
Refunding
Series
2006A,
3.000%,
5/15/49
(4)
No
Opt.
Call
N/R  
25
2,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2010C,
4.000%,
6/01/33
No
Opt.
Call
N/R  
20
2,510
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33
(4)
No
Opt.
Call
N/R  
25
1,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A,
5.000%,
11/01/51
11/30
at
100.00
N/R  
789,750
2,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020A,
7.000%,
12/01/42,
(AMT),
144A
12/27
at
103.00
N/R  
1,492,640
1,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020B,
10.000%,
12/01/27,
(AMT),
144A
12/26
at
105.00
N/R  
926,590
Total
Ohio
70,125,997
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
172
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oklahoma
-
1.3%
(0.8%
of
Total
Investments)
$
975
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B,
5.000%,
8/15/38
8/28
at
100.00
BB-  
$
920,780
1,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017,
5.250%,
11/15/45
11/25
at
102.00
BBB-  
1,000,770
2,475
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2000B,
5.500%,
6/01/35,
(AMT)
6/23
at
100.00
N/R  
2,475,891
860
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2001B,
5.500%,
12/01/35,
(AMT)
6/23
at
100.00
N/R  
860,258
3,475
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2015,
5.000%,
6/01/35,
(AMT),
(Mandatory
Put
6/01/25)
6/25
at
100.00
B-  
3,502,835
Total
Oklahoma
8,760,534
Oregon
-
0.1%
(0.1%
of
Total
Investments)
100
Oregon
Facilities
Authority,
Revenue
Bonds,
Metro
East
Web
Academy
Project,
Series
2019A,
5.000%,
6/15/49,
144A
6/27
at
102.00
N/R  
88,200
1,000
Yamhill
County
Hospital
Authority,
Oregon,
Revenue
Bonds,
Friendsview
Retirement
Community,
Refunding
Series
2021A,
5.000%,
11/15/56
11/28
at
103.00
N/R  
725,820
Total
Oregon
814,020
Pennsylvania
-
5.7%
(3.4%
of
Total
Investments)
1,125
Allegheny
Country
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
5/23
at
100.00
B1  
1,130,040
6,995
Allegheny
County
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corp.,
Refunding
Series
2019,
5.125%,
5/01/30
No
Opt.
Call
B1  
7,141,196
335
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021,
6.000%,
5/01/42,
144A
5/31
at
100.00
N/R  
341,811
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A:
3,300
4.375%,
1/01/35,
(Mandatory
Put
7/01/33)
No
Opt.
Call
BBB-  
3,298,482
560
3.500%,
4/01/41
(4)
No
Opt.
Call
N/R  
6
1,440
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35
(4)
No
Opt.
Call
N/R  
14
1,025
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008A,
2.700%,
4/01/35
(4)
No
Opt.
Call
N/R  
10
5,355
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35
(4)
No
Opt.
Call
N/R  
54
1,555
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-  
1,154,074
2,565
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,  Alvernia
University
Project,
Series
2020,
5.000%,
10/01/49
10/29
at
100.00
BB+  
2,273,437
3,100
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Reading
Hospital
&
Medical
Center
Project,
Series
2012A,
5.000%,
11/01/44
5/23
at
100.00
B  
1,918,125
173
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
1,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A,
5.000%,
12/01/30
12/25
at
100.00
N/R  
$
940,330
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Collegium
Charter
School
Project,
Series
2017A:
1,870
5.125%,
10/15/37
4/27
at
100.00
BB  
1,820,613
3,250
5.250%,
10/15/47
4/27
at
100.00
BB  
2,941,283
Cumberland
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Asbury
Pennsylvania
Obligated
Group,  Refunding
Series
2019:
2,160
5.000%,
1/01/39
1/25
at
104.00
N/R  
1,936,353
1,240
5.000%,
1/01/45
1/25
at
104.00
N/R  
1,063,821
3,555
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020,
6.250%,
10/15/53,
144A
10/28
at
100.00
BB  
3,572,739
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1,
10.000%,
12/01/40,
144A
6/30
at
100.00
N/R  
1,549,238
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
10.000%,
12/01/40,
(AMT),
144A
6/30
at
100.00
N/R  
1,549,238
1,260
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
No
Opt.
Call
N/R  
1,041,881
6,950
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Refunding
Bonds,
PPL
Energy
Supply,
LLC
Project,
Series
2009A,
6.400%,
12/01/38
(4)
9/25
at
100.00
N/R  
2,224,000
1,025
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
the
Sciences
in
Philadelphia,
Series
2015A,
5.000%,
11/01/27
11/25
at
100.00
N/R  
1,067,035
545
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A,
5.375%,
6/15/50,
144A
12/27
at
100.00
N/R  
474,423
Total
Pennsylvania
37,438,203
Puerto
Rico
-
13.6%
(8.0%
of
Total
Investments)
1,365
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B,
5.000%,
7/01/37,
144A
7/31
at
100.00
N/R  
1,351,254
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A:
2,070
3.957%,
7/01/29
(4)
5/23
at
100.00
D  
1,459,350
3,170
3.957%,
7/01/42
(4)
5/23
at
100.00
D  
2,234,850
1,000
3.961%,
7/01/42
(4)
5/23
at
100.00
D  
705,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT:
130
3.957%,
7/01/21
(4)
No
Opt.
Call
N/R  
90,350
3,750
3.957%,
7/01/26
(4)
5/23
at
100.00
D  
2,643,750
310
3.957%,
7/01/32
(4)
5/23
at
100.00
D  
218,550
1,860
3.957%,
7/01/37
(4)
5/23
at
100.00
D  
1,311,300
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA:
1,124
3.978%,
7/01/28
(4)
5/23
at
100.00
D  
792,420
468
3.978%,
7/01/29
(4)
5/23
at
100.00
D  
329,940
346
3.978%,
7/01/31
(4)
5/23
at
100.00
D  
243,930
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
174
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC:
$
2,995
3.957%,
7/01/28
(4)
5/23
at
100.00
D  
$
2,111,475
500
3.978%,
7/01/28
(4)
5/23
at
100.00
D  
352,500
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX:
100
3.978%,
7/01/27
(4)
5/23
at
100.00
D  
70,500
4,000
3.978%,
7/01/35
(4)
5/23
at
100.00
D  
2,820,000
400
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ,
3.978%,
7/01/24
(4)
5/23
at
100.00
D  
282,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A:
5,000
4.123%,
7/01/33
(4)
7/23
at
100.00
D  
3,575,000
10,000
4.102%,
7/01/36
(4)
7/23
at
100.00
D  
7,150,000
1,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2016A-4-RSA-1,
4.371%,
7/01/19
(4)
No
Opt.
Call
N/R  
722,500
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
WW:
373
3.988%,
7/01/23
(4)
5/23
at
100.00
D  
262,499
190
3.988%,
7/01/23
(4)
No
Opt.
Call
N/R  
132,525
25
3.978%,
7/01/33
(4)
5/23
at
100.00
D  
17,625
4,500
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/62
7/32
at
100.00
N/R  
4,346,100
5,000
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022C,
5.000%,
7/01/53
1/33
at
100.00
N/R  
2,987,650
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
22,702
0.000%,
7/01/46
7/28
at
41.38
N/R  
6,203,107
17,551
0.000%,
7/01/51
7/28
at
30.01
N/R  
3,587,114
1,000
5.000%,
7/01/58
7/28
at
100.00
N/R  
965,675
1,000
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022,
0.000%,
11/01/51
No
Opt.
Call
N/R  
472,500
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
0
(9)
5.625%,
7/01/27
No
Opt.
Call
N/R  
3
240
5.750%,
7/01/31
No
Opt.
Call
N/R  
256,973
23,533
0.000%,
7/01/33
7/31
at
89.94
N/R  
13,764,468
15,704
4.000%,
7/01/33
7/31
at
103.00
N/R  
14,404,397
0
(9)
4.000%,
7/01/37
7/31
at
103.00
N/R  
331
5,182
4.000%,
7/01/41
7/31
at
103.00
N/R  
4,365,017
2,012
4.000%,
7/01/46
7/31
at
103.00
N/R  
1,637,172
13,955
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
2022
1
No
Opt.
Call
N/R  
6,576,373
500
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Series
2006Q,
5.000%,
6/01/24
5/23
at
100.00
CC  
496,885
Total
Puerto
Rico
88,941,083
South
Carolina
-
0.3%
(0.2%
of
Total
Investments)
430
Berkeley
County,
South
Carolina,
Special
Assessment
Revenue
Bonds,
Nexton
Improvement
District,
Series
2019,
4.375%,
11/01/49
11/29
at
100.00
N/R  
354,109
400
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020,
5.000%,
1/01/55,
144A
1/30
at
100.00
N/R  
338,104
175
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
South
Carolina
(continued)
$
1,450
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmetto
Scholars
Academy
Project,
Series
2015A,
5.125%,
8/15/35,
144A
2/25
at
100.00
BB  
$
1,320,153
Total
South
Carolina
2,012,366
Tennessee
-
2.0%
(1.2%
of
Total
Investments)
1,000
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B,
0.000%,
12/01/31,
144A
No
Opt.
Call
N/R  
619,020
5,000
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A,
5.125%,
12/01/42,
144A
12/26
at
100.00
N/R  
4,558,750
1,587
Knox
County
Health,
Educational,
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
Provision
Center
for
Proton
Therapy
Project,
Series
2014,
5.250%,
5/01/25,
144A
2014
2014
(4)
11/24
at
100.00
N/R  
159
1,000
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A,
5.625%,
1/01/46
(4)
7/27
at
100.00
N/R  
620,840
6,590
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A  
6,699,921
1,500
The
Health
and
Educational
Facilities
Board
of
the
City
of
Franklin,
Tennessee,
Revenue
Bonds,
Provision
Cares
Proton
Therapy
Center,
Nashville
Project,
Series
2017A,
6.500%,
6/01/27,
144A
(4)
No
Opt.
Call
N/R  
330,000
Total
Tennessee
12,828,690
Texas
-
3.7%
(2.2%
of
Total
Investments)
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A:
500
5.000%,
1/01/31
1/27
at
100.00
BB+  
516,085
500
5.000%,
1/01/32
1/27
at
100.00
BB+  
515,760
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B:
540
5.000%,
1/01/25
No
Opt.
Call
B  
538,170
475
5.000%,
1/01/29
1/27
at
100.00
B  
478,985
850
5.000%,
1/01/34
1/27
at
100.00
B  
855,848
4,665
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.
-
Terminal
Improvement
Project,
Refunding
Series
2011,
6.500%,
7/15/30,
(AMT)
5/23
at
100.00
BB-  
4,678,342
650
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2014,
5.000%,
7/01/29,
(AMT)
7/24
at
100.00
BB-  
652,035
250
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Southern
Improvement
Area
Project,
Series
2017,
4.750%,
9/01/37,
144A
9/26
at
100.00
N/R  
240,432
200
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Lagos
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020,
4.625%,
9/15/49,
144A
9/30
at
100.00
N/R  
178,710
520
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2019A,
5.000%,
8/15/49,
144A
8/24
at
100.00
N/R  
472,638
70
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-1,
7.500%,
11/15/37
No
Opt.
Call
N/R  
55,166
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
176
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
445
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-2,
7.500%,
11/15/36
No
Opt.
Call
N/R  
$
370,956
4,006
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021B,
5.625%,
11/15/61
11/26
at
105.00
N/R  
1,730,143
12,025
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1,
5.500%,
1/01/57
1/28
at
103.00
N/R  
8,628,779
625
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Corpus
Christi
II,
L.L.C.-Texas
A&M
University-Corpus
Christi
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R  (8)
662,200
400
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Galveston-
Texas
A&M
University
at
Galveston
Project,
Series
2014A,
5.000%,
4/01/29,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R  (8)
406,200
110
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019,
5.375%,
9/01/50,
144A
9/30
at
100.00
N/R  
106,773
145
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
2
Project,
Series
2019,
4.750%,
9/15/49,
144A
9/27
at
100.00
N/R  
135,459
Tarrant
County
Cultural
Education
Facilities
Finance
Corporaton,
Texas,
Retirement
Facility
Revenue
Bonds,
C.C.
Young
Memorial
Home
Project,
Series
2016A:
1,000
0.000%,
2/15/41
(4)
2/27
at
100.00
N/R  
550,000
4,575
0.000%,
2/15/48
(4)
2/27
at
100.00
N/R  
2,516,250
Total
Texas
24,288,931
Utah
-
0.8%
(0.4%
of
Total
Investments)
2,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
Revenue
Bonds,
Series
2021A-2,
4.000%,
6/01/52
9/26
at
103.00
N/R  
1,435,140
1,000
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A,
5.000%,
6/15/50,
144A
6/27
at
102.00
N/R  
886,290
2,500
Utah
County,
Utah,
Hospital
Revenue
Bonds,
IHC
Health
Services
Inc.,
Series
2020A,
5.000%,
5/15/43
5/30
at
100.00
AA+  
2,667,800
Total
Utah
4,989,230
Virgin
Islands
-
3.3%
(1.9%
of
Total
Investments)
3,085
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/39
(WI/DD,
Settling
5/24/23)
10/32
at
100.00
N/R  
3,037,337
710
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A,
5.000%,
10/01/32
5/23
at
100.00
N/R  
635,982
16,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2014C,
5.000%,
10/01/30,
144A
10/24
at
100.00
N/R  
14,373,120
295
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Working
Capital
Series
2014A,
5.000%,
10/01/24,
144A
No
Opt.
Call
N/R  
290,159
2,000
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Senior
Series
2021A,
6.750%,
7/01/26,
144A
No
Opt.
Call
N/R  
1,921,240
177
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virgin
Islands
(continued)
$
1,400
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.375%,
4/01/52,
144A
10/29
at
104.00
N/R  
$
1,349,880
Total
Virgin
Islands
21,607,718
Virginia
-
1.1%
(0.7%
of
Total
Investments)
Roanoke
Economic
Development
Authority,
Virginia
Residential
Care
Facility
Revenue
Bonds,
Richfield
Living,
Series
2020:
5,870
5.000%,
9/01/50
(4)
9/27
at
103.00
N/R  
3,698,335
4,840
5.125%,
9/01/55
(4)
9/27
at
103.00
N/R  
3,033,421
580
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019B,
6.525%,
7/01/52,
144A
,
(cash
7.500%,
PIK
7.500%)
No
Opt.
Call
N/R  
543,609
Total
Virginia
7,275,365
Washington
-
0.3%
(0.2%
of
Total
Investments)
1,125
Port
of
Seattle
Industrial
Development
Corporation,
Washington,
Special
Facilities
Revenue
Refunding
Bonds,
Delta
Air
Lines,
Inc.
Project,
Series
2012,
5.000%,
4/01/30,
(AMT)
5/23
at
100.00
BB  
1,125,563
1,000
Washington
State
Housing
Finance
Commission,
Nonprofit
Housing
Revenue
Bonds,
Rockwood
Retirement
Communities
Project,
Series
2020A,
5.000%,
1/01/51,
144A
1/26
at
103.00
N/R  
716,310
Total
Washington
1,841,873
West
Virginia
-
0.7%
(0.4%
of
Total
Investments)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A:
3,000
5.500%,
6/01/37,
144A
6/27
at
100.00
N/R  
3,062,850
625
5.750%,
6/01/43,
144A
6/27
at
100.00
N/R  
639,069
1,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Arch
Resources
Project,
Series
2021,
4.125%,
7/01/45,
(AMT),
(Mandatory
Put
7/01/25)
1/25
at
100.00
B2  
984,810
Total
West
Virginia
4,686,729
Wisconsin
-
9.9%
(5.8%
of
Total
Investments)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
21st
Century
Public
Academy
Project,
Series
2020A:
750
5.000%,
6/01/40,
144A
6/28
at
102.00
N/R  
666,090
1,340
5.000%,
6/01/49,
144A
6/28
at
102.00
N/R  
1,109,359
365
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A,
5.000%,
6/15/49,
144A
6/26
at
100.00
N/R  
323,259
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A:
3,000
5.000%,
6/15/36,
144A
6/26
at
100.00
N/R  
2,605,140
4,240
5.000%,
6/15/46,
144A
6/26
at
100.00
N/R  
3,259,161
3,315
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2022A,
5.000%,
6/15/52,
144A
6/32
at
100.00
Ba2  
2,910,404
2,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lake
Erie
College,
Series
2019A,
5.875%,
10/01/54,
144A
10/29
at
100.00
N/R  
1,684,620
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A:
14,695
3.125%,
8/01/27,
144A
(4)
No
Opt.
Call
N/R  
11,223,306
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
178
NMCO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
2,375
6.750%,
8/01/31,
144A
(4)
No
Opt.
Call
N/R  
$
1,306,250
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017:
555
6.500%,
12/01/37,
144A
12/27
at
100.00
N/R  
480,375
15,915
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R  
13,822,814
215
Public
Finance
Authority
of
Wisconsin,
Retirement
Facility
Revenue
Bonds,
Shalom
Park
Development
Project,
Series
2019,
0.000%,
12/31/24,
144A
No
Opt.
Call
N/R  
12,900
1,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017B,
8.500%,
10/01/47,
144A
(4)
10/27
at
100.00
N/R  
400,000
1,765
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A,
5.200%,
12/01/37
12/27
at
100.00
BBB  
1,810,149
2,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A,
7.000%,
7/01/48,
144A
7/28
at
100.00
N/R  
1,631,720
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2020:
600
5.000%,
4/01/50,
144A
4/30
at
100.00
BB  
557,292
35
5.000%,
4/01/50,
(Pre-refunded
4/01/30),
144A
4/30
at
100.00
N/R  (8)
40,394
8,930
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
4.250%,
7/01/54,
(AMT)
7/31
at
100.00
N/R  
6,548,815
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1:
5,885
6.125%,
1/01/33,
144A
1/28
at
100.00
N/R  
3,619,275
250
6.250%,
1/01/38,
144A
1/28
at
100.00
N/R  
153,750
8,735
6.375%,
1/01/48,
144A
1/28
at
100.00
N/R  
5,372,025
Wisconsin
Center
District,
Dedicated
Tax
Revenue
Bonds,
Supported
by
State
Moral
Obligation
Junior
Series
2020D:
6,225
0.000%,
12/15/45
-
AGM
Insured
12/30
at
56.77
A1  
2,111,209
4,500
0.000%,
12/15/60
-
AGM
Insured
12/30
at
29.95
A1  
659,475
3,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
Camillus
Health
System
Inc,
Series
2019A,
5.000%,
11/01/46
11/26
at
103.00
N/R  
2,391,600
Total
Wisconsin
64,699,382
Total
Municipal
Bonds
(cost
$1,138,789,165)
1,038,832,643
Shares
Description
(1)
Value
X
66,652,564
COMMON
STOCKS
-
10.2%
(6.0%
of
Total
Investments)
X
66,652,564
Independent
Power
and
Renewable
Electricity
Producers
-
10.2%
(6.0%
of
Total
Investments)
859,113
Energy
Harbor
Corp
(10),(11)
$
66,652,564
Total
Independent
Power
and
Renewable
Electricity
Producers
66,652,564
Total
Common
Stocks
(cost
$24,407,228)
66,652,564
179
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
2,007,118
CORPORATE
BONDS
-
0.3%
(0.2%
of
Total
Investments)
X
2,007,118
Independent
Power
And
Renewable
Electricity
Producers
-
0.3%
(0.2%
of
Total
Investments)
$
6,272
Talen
Energy
Corp
0.000%
8/31/23
N/R
$
2,007,118
Total
Independent
Power
And
Renewable
Electricity
Producers
2,007,118
Total
Corporate
Bonds
(cost
$–)
2,007,118
Total
Long-Term
Investments
(cost
$1,163,196,393)
1,107,492,325
Floating
Rate
Obligations
-
(3.9)%
(
25,350,000
)
MFP
Shares,
Net
-
(68.6)%(12)
(
449,072,865
)
Other
Assets
&
Liabilities,
Net
-   3.3%
21,548,932
Net
Assets
Applicable
to
Common
Shares
-
100%
$
654,618,392
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
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.
(4)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(5)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(6)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(7)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(8)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(9)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(10)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006A,
3.500%,
4/01/41,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2008A,
2.700%,
4/01/35,
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/20,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
3/01/23,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.750%,
12/01/23,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006A,
3.000%,
5/15/20,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010C,
4.000%,
6/01/33.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not  currently
satisfied).
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra.  The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023.  In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
Nuveen
expects
these
shares
to
be
issued
in
a
private
transaction
and
may
have
reduced
secondary
market
liquidity.  The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(11)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(12)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
40.5%.
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.
AMT
Alternative
Minimum
Tax
PIK
Payment-in-kind
(“PIK”)
security.  Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both.  The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
180
Nuveen
Dynamic
Municipal
Opportunities
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
133.1%  
(100.0%
of
Total
Investments) 
X
771,399,912
MUNICIPAL
BONDS
-
117.5%
(88.2%
of
Total
Investments)
X
771,399,912
Alabama
-
1.2%
(0.9%
of
Total
Investments)
$
2,360
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
6.375%,
11/01/50,
(AMT),
(Mandatory
Put
11/01/30)
No
Opt.
Call
B1  
$
2,597,959
4,960
Mobile
County,
Alabama,
Limited
Obligation
Warrants,
Gomesa
Projects,
Series
2020,
4.000%,
11/01/45,
144A
11/29
at
100.00
N/R  
4,331,022
855
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A,
4.500%,
5/01/32,
144A
2021
2021
5/29
at
100.00
N/R  
783,662
Total
Alabama
7,712,643
Arizona
-
6.3%
(4.7%
of
Total
Investments)
2,580
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Series
2021B,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R  
1,890,418
4,070
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021A,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R  
3,052,378
1,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021C,
6.000%,
7/01/29,
144A
No
Opt.
Call
N/R  
931,420
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada
-
Bonanza
Campus
Project,
Series
2020A:
920
5.000%,
12/15/40,
144A
12/28
at
100.00
BB  
897,846
1,500
5.000%,
12/15/50,
144A
12/28
at
100.00
BB  
1,392,000
1,500
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Social
Bonds
?
Pensar
Academy
Project,
Series
2020,
5.000%,
7/01/55,
144A
7/28
at
100.00
BB-  
1,268,535
4,500
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
?
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1,
4.000%,
12/01/51,
144A
12/31
at
100.00
BB  
3,514,995
5,085
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2022-
2,
5.000%,
9/01/52,
(AMT),
(Mandatory
Put
9/01/27)
3/27
at
100.00
A  
5,300,045
1,090
Coconino
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Flagstaff
Arts
&
Leadership
Academy
Project,
Refunding
Series
2020,
5.500%,
7/01/40,
144A
7/28
at
100.00
N/R  
925,116
1,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020,
5.250%,
10/01/40,
144A
10/27
at
103.00
N/R  
987,590
3,405
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Northwest
Christian
School
Project,
Series
2020A,
5.000%,
9/01/55,
144A
9/30
at
100.00
Ba2  
2,745,281
2,140
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Refunding
Series
2022.
Forward
Delivery,
4.000%,
6/15/41,
144A
6/26
at
100.00
N/R  
1,753,216
181
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Refunding
Series
2020:
$
5,265
5.000%,
7/01/35,
144A
7/26
at
103.00
N/R  
$
5,212,613
6,800
5.000%,
7/01/40,
144A
7/26
at
103.00
N/R  
6,393,836
4,580
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020-1,
5.000%,
6/15/50,
144A
6/28
at
100.00
N/R  
3,964,494
Pima
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Tucson
Medical
Center,
Series
2021A:
400
4.000%,
4/01/39
4/31
at
100.00
A  
386,692
800
4.000%,
4/01/40
4/31
at
100.00
A  
769,480
Total
Arizona
41,385,955
Arkansas
-
1.8%
(1.3%
of
Total
Investments)
4,500
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
5.450%,
9/01/52,
(AMT),
144A
9/25
at
105.00
BB-  
4,493,070
8,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT),
144A
9/26
at
103.00
BB-  
7,180,080
Total
Arkansas
11,673,150
California
-
10.4%
(7.8%
of
Total
Investments)
2,000
Alvord
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Refunding
Series
2002A,
5.900%,
8/01/30
-
NPFG
Insured
No
Opt.
Call
A1  
2,183,400
1,205
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A,
5.000%,
3/01/26
No
Opt.
Call
BBB  
1,214,989
1,960
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
5.250%,
1/01/54,
(Mandatory
Put
10/01/31)
10/30
at
100.65
Baa1  
2,047,534
3,815
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A,
4.000%,
2/01/56,
144A
8/31
at
100.00
N/R  
2,945,562
10,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Sonoma
County
Tobacco
Securitization
Corporation,
Series
2020B-2,
0.000%,
6/01/55
12/30
at
34.02
N/R  
2,044,400
5,500
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
Los
Angeles
County
Museum
of
Natural
History
Foundation,
Series
2020,
3.000%,
7/01/50
7/30
at
100.00
A2  
4,094,805
250
California
Infrastructure
and
Economic
Development
Bank,
Revenue
Bonds,
WFCS
Portfolio
Projects,
Senior
Series
2021A-1,
5.000%,
1/01/56,
144A
1/31
at
100.00
N/R  
192,308
2,750
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
5.000%,
12/31/47,
(AMT)
6/28
at
100.00
BBB-  
2,786,712
7,000
California
Municipal
Finance
Authority,
Special
Facility
Revenue
Bonds,
United
Airlines,
Inc.
Los
Angeles
International
Airport
Project,
Series
2019,
4.000%,
7/15/29,
(AMT)
No
Opt.
Call
BB-  
6,826,750
5,000
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A,
5.125%,
7/01/55,
144A
7/28
at
100.00
N/R  
4,014,950
465
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A,
5.000%,
11/15/51,
144A
11/29
at
102.00
N/R  
399,017
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
182
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
2,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
?
Obligated
Group,
Series
2020A,
5.000%,
6/01/60,
144A
6/28
at
100.00
N/R  
$
1,485,340
1,000
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Refunding
Series
2023B,
5.000%,
12/01/35
12/32
at
100.00
A+  
1,192,610
6,680
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2021D,
5.000%,
11/01/46
11/31
at
100.00
A+  
7,350,672
California
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2023:
1,105
4.000%,
10/01/42
4/33
at
100.00
AA-  
1,129,232
5,910
5.000%,
10/01/42
4/33
at
100.00
AA-  
6,763,286
3,935
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2023,
5.250%,
10/01/45
4/33
at
100.00
AA-  
4,569,086
6,180
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A,
5.000%,
1/01/54,
144A
1/31
at
100.00
N/R  
5,087,376
160
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2022A-1,
5.000%,
6/01/51
12/31
at
100.00
BBB+  
167,603
2,750
Irvine
Facilities
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Great
Park
Infrastructure
Project
Series
2023A,
5.000%,
9/01/40
(WI/DD,
Settling
5/04/23)
9/33
at
100.00
AA-  
3,138,025
1,280
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2022C,
5.000%,
7/01/52
1/32
at
100.00
AA-  
1,403,610
985
Northstar
Community
Services
District,
Calfornia,
Special
Tax
Bonds,
Community
Facilities
District
1,
Series
2006,
1.250%,
9/01/37
2006
1
(4)
9/23
at
100.00
N/R  
404,027
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Refunding
Series
2022A-1:
1,070
5.000%,
9/01/42
-
AGM
Insured
9/29
at
103.00
AA  
1,194,494
525
5.250%,
9/01/52
-
AGM
Insured
9/29
at
103.00
AA  
587,239
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2:
1,070
5.000%,
9/01/42
9/29
at
103.00
N/R  
1,043,806
1,805
5.250%,
9/01/47
9/29
at
103.00
N/R  
1,801,372
1,000
5.000%,
9/01/52
9/29
at
103.00
N/R  
954,530
750
San
Francisco
Community
College
District,
California,
General
Obligation
Bonds,
Taxable
Election
2020
Series
2020A-1,
3.165%,
6/15/41
6/30
at
100.00
A1  
599,205
San
Jose,
California,
Airport
Revenue
Bonds,
Taxable
Refunding
Series
2021C:
290
2.310%,
3/01/30
No
Opt.
Call
A  
250,230
420
3.290%,
3/01/41
3/31
at
100.00
A  
326,512
Total
California
68,198,682
Colorado
-
17.1%
(12.8%
of
Total
Investments)
2,370
64th
Avenue
ARI
Authority,
Adams
County,
Colorado,
Special
Revenue
Bonds,
Series
2020,
6.500%,
12/01/43
12/25
at
103.00
N/R  
2,272,877
480
Alpine
Mountain
Ranch
Metropolitan
District,
Routt
County,
Colorado,
Special
Assessment
Revenue
Bonds,
Special
Improvement
District
1,
Refunding
Series
2021,
4.000%,
12/01/40
9/26
at
103.00
N/R  
372,282
183
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,240
Arista
Metropolitan
District,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Convertible
to
Unlimited
Tax
Series
2018A,
5.000%,
12/01/38
12/23
at
103.00
N/R  
$
1,209,211
1,060
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
9/25
at
103.00
N/R  
935,588
2,285
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B,
7.750%,
12/15/50
9/25
at
103.00
N/R  
2,114,585
5,220
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
5.750%,
12/01/51
12/28
at
103.00
N/R  
4,727,389
499
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
4.000%,
12/01/29
9/24
at
103.00
N/R  
469,419
1,725
Belford
North
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A,
5.500%,
12/01/50
12/25
at
103.00
N/R  
1,546,342
1,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A,
5.000%,
12/01/51
3/26
at
103.00
N/R  
871,030
734
Blue
Lake
Metropolitan
District
3,
Lochbuie,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2018A,
5.250%,
12/01/48
12/23
at
103.00
N/R  
663,316
500
Broadway
Park
North
Metropolitan
District
2,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2020,
5.000%,
12/01/40,
144A
12/25
at
103.00
N/R  
479,080
1,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.125%,
12/01/48
6/24
at
103.00
N/R  
772,330
1,500
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Junior
Subordinate
Series
2016,
7.000%,
12/15/57
5/23
at
100.00
N/R  
1,030,095
1,755
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2020A,
5.000%,
12/01/51
12/25
at
103.00
N/R  
1,524,990
1,450
Citadel
on
Colfax
Business
Improvement
District,
Aurora,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Senior
Series
2020A,
5.350%,
12/01/50
12/25
at
103.00
N/R  
1,314,570
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A:
100
4.000%,
7/01/41,
144A
7/31
at
100.00
N/R  
83,204
100
4.000%,
7/01/51,
144A
7/31
at
100.00
N/R  
75,498
1,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020,
5.000%,
12/01/50,
144A
12/30
at
100.00
N/R  
864,940
500
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Cappella
of
Grand
Junction
Project,
Series
2019,
5.000%,
12/01/54,
144A
12/26
at
103.00
N/R  
341,960
16,000
Colorado
International
Center
Metropolitan
District
8,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
6.500%,
12/01/50
9/25
at
103.00
N/R  
14,678,240
6,500
Crystal
Valley
Metropolitan
District
2,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2020A,
3.000%,
12/01/49
-
AGM
Insured
12/30
at
100.00
A1  
4,878,445
656
Dacono
Urban
Renewal
Authority,
Weld
County,
Colorado,
Tax
Increment
Revenue
Bonds,
Series
2020,
6.250%,
12/01/39
12/25
at
103.00
N/R  
622,288
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
184
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A:
$
1,000
5.000%,
11/15/31,
(AMT)
No
Opt.
Call
AA-  
$
1,128,570
1,355
5.500%,
11/15/40,
(AMT)
11/32
at
100.00
AA-  
1,532,017
4,000
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A,
6.750%,
12/01/34,
144A
9/27
at
103.00
N/R  
4,036,840
1,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014,
6.000%,
12/01/38
12/24
at
100.00
N/R  
940,220
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A:
1,425
5.250%,
12/01/32
12/30
at
102.00
N/R  
1,415,410
1,200
5.750%,
12/01/52
12/30
at
102.00
N/R  
1,171,596
2,000
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.500%,
6/01/50,
144A
6/25
at
103.00
N/R  
1,721,100
1,000
Great
Western
Metropolitan
District
5,
Colorado,
General
Obligation
Limited
Tax
Revenue
Bonds,
Refunding
Series
2020,
4.750%,
12/01/50
12/25
at
102.00
N/R  
861,220
5,250
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B,
5.750%,
12/15/50
12/23
at
103.00
N/R  
5,083,837
2,000
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A,
5.750%,
12/01/50
12/25
at
103.00
N/R  
1,687,320
1,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.125%,
12/01/50
12/25
at
103.00
N/R  
801,980
1,380
Lanterns
Metropolitan
District
1,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A,
5.000%,
12/01/39
9/24
at
103.00
N/R  
1,325,807
3,000
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022,
7.375%,
11/01/52,
144A
11/29
at
103.00
N/R  
2,996,400
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A:
500
5.000%,
12/01/41
6/26
at
103.00
N/R  
457,645
500
5.000%,
4/15/51
6/26
at
103.00
N/R  
429,005
500
Meadowbrook
Heights
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A(3),
4.875%,
12/01/51
9/26
at
103.00
N/R  
392,175
480
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/49
3/25
at
103.00
N/R  
433,171
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3:
2,000
5.000%,
12/01/40
12/25
at
103.00
N/R  
1,835,320
1,810
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
12/25
at
103.00
N/R  
1,577,650
285
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/51,
144A
3/26
at
103.00
N/R  
248,013
185
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,100
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1,
7.500%,
12/01/52
12/27
at
103.00
N/R  
$
1,101,144
925
Pinon
Pines
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020,
5.000%,
12/01/40
9/25
at
103.00
N/R  
880,267
7,040
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
N/R  
6,634,637
3,665
Rampart
Range
Metropolitan
District
1,
Lone
Tree,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017,
5.000%,
12/01/42
12/27
at
100.00
A1  
3,838,868
2,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021,
4.000%,
12/01/41
10/26
at
102.00
N/R  
1,557,640
1,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Refunding
&
Improvement
Senior
Series
2020A,
3.750%,
12/01/40
12/25
at
102.00
N/R  
807,960
740
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Subordinate
Series
2020B,
7.125%,
12/15/50
12/25
at
102.00
N/R  
710,045
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020:
2,350
5.000%,
12/01/40
12/25
at
103.00
N/R  
2,210,809
2,300
5.125%,
12/01/50
12/25
at
103.00
N/R  
2,058,523
2,175
Sunlight
Metropolitan
District,
Steamboat
Springs,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
5.000%,
12/01/50
12/25
at
103.00
N/R  
1,909,846
496
Tallman
Gulch
Metropolitan
District,  Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Refunding
and
Improvement
Bonds,Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2018A,
5.250%,
12/01/47
5/23
at
103.00
N/R  
480,678
1,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2,
5.500%,
12/01/51
3/26
at
103.00
N/R  
753,480
1,270
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/41
3/26
at
103.00
N/R  
1,139,317
5,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
6.000%,
12/01/50
12/23
at
81.31
N/R  
3,390,950
10,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.375%,
12/01/50
12/23
at
103.00
N/R  
9,212,200
1,500
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021,
5.000%,
12/01/51
3/26
at
103.00
N/R  
1,318,335
2,000
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1,
4.125%,
12/01/51,
144A
9/26
at
103.00
N/R  
1,221,960
983
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Taxable
Converting
to
Tax-
Exempt
Refunding
Subordinate
Series
2020B-1,
6.250%,
12/15/40
12/25
at
103.00
N/R  
931,402
Total
Colorado
112,081,036
Connecticut
-
0.2%
(0.1%
of
Total
Investments)
1,255
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2016B-1,
2.950%,
11/15/31
11/25
at
100.00
AAA  
1,189,991
Total
Connecticut
1,189,991
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
186
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
District
of
Columbia
-
1.7%
(1.3%
of
Total
Investments)
$
3,375
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Refunding
Forward
Delivery
Series
2022C,
5.000%,
12/01/36
12/32
at
100.00
Aa1  
$
3,951,855
5,420
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Series
2022A,
5.500%,
7/01/47
7/32
at
100.00
Aa1  
6,238,420
1,000
Washington
Convention
and
Sports
Authority,
Washington
D.C.,
Dedicated
Tax
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A,
4.000%,
10/01/37
10/30
at
100.00
A+  
1,014,990
Total
District
of
Columbia
11,205,265
Florida
-
14.1%
(10.6%
of
Total
Investments)
1,000
Ave
Maria
Stewardship
Community
District,
Florida,
Bond
Anticipation
Notes,
Phase
4
Master
Improvements
Project,
Series
2021,
3.500%,
5/01/26,
144A
5/23
at
100.00
N/R  
972,190
1,565
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021,
3.750%,
5/01/41
5/31
at
100.00
N/R  
1,288,809
1,310
Banyan
Cay
Community
Development
District,
West
Palm
Beach,
Florida,
Special
Assessment
Bonds,
2020-1,
4.000%,
11/01/51
11/30
at
100.00
N/R  
1,021,813
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
South
Tech
Schools
Project,
Series
2020A:
1,235
5.000%,
6/15/40,
144A
6/27
at
100.00
N/R  
1,124,826
1,260
5.000%,
6/15/55,
144A
6/27
at
100.00
N/R  
1,068,782
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2021:
250
4.000%,
8/15/51,
144A
8/28
at
100.00
N/R  
183,923
450
4.200%,
8/15/56,
144A
8/28
at
100.00
N/R  
331,789
500
4.250%,
8/15/61,
144A
8/28
at
100.00
N/R  
361,245
1,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
St.
Johns
Classical
Academy,
Refunding
Series
2021A,
4.000%,
6/15/56,
144A
6/30
at
100.00
N/R  
707,620
5,060
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020B,
4.250%,
5/01/41,
144A
No
Opt.
Call
N/R  
4,443,338
1,500
Cypress
Park
Estates
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Project,
Series
2020,
4.000%,
5/01/51,
144A
5/32
at
100.00
N/R  
1,172,445
2,500
Cypress
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2019,
4.125%,
11/01/50
11/29
at
100.00
N/R  
2,006,475
1,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R  
782,220
10,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Discovery
High
School
Project,
Series
2020A,
5.000%,
6/01/55,
144A
6/29
at
100.00
N/R  
8,684,500
19,650
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Brightline
Passenger
Rail
Project,
Green
Series
2019B,
7.375%,
1/01/49,
(AMT),
144A
1/24
at
107.00
N/R  
18,680,665
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
1,250
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
5/23
at
102.00
N/R  
1,188,688
6,890
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
5/23
at
102.00
N/R  
6,502,437
187
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
Florida
Development
Finance
Corporation,
Healthcare
Facilties
Revenue
Bonds,
Lakeland
Regional
Health
Systems,
Series
2021:
$
450
4.000%,
11/15/35
11/31
at
100.00
A2  
$
452,331
1,000
4.000%,
11/15/37
11/31
at
100.00
A2  
997,720
1,940
4.000%,
11/15/38
11/31
at
100.00
A2  
1,923,704
2,750
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023A,
7.500%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
5/23
at
100.00
N/R  
2,702,838
22,505
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2022A,
7.250%,
7/01/57,
(AMT),
(Mandatory
Put
10/03/23),
144A
5/23
at
103.00
N/R  
22,792,389
985
Forest
Lake
Community
Development
District,
Polk
County,
Florida,
Specia
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2020,
4.000%,
5/01/51,
144A
5/30
at
100.00
N/R  
784,671
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2020:
1,100
4.250%,
5/01/40
5/31
at
100.00
N/R  
976,162
1,500
4.500%,
5/01/52
5/31
at
100.00
N/R  
1,273,680
2,500
Greater
Orlando
Aviation
Authority,
Florida,
Special
Purpose
Airport
Facilities
Revenue
Bonds,
JetBlue
Airways
Corporation,
Series
2013,
5.000%,
11/15/36,
(AMT)
5/23
at
100.00
N/R  
2,500,050
1,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area1
Project,
Series
2020,
4.000%,
5/01/51
5/30
at
100.00
N/R  
821,500
1,225
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Miami
Community
Charter
School
Inc
Project,
Series
2020A,
5.000%,
6/01/47,
144A
6/26
at
103.00
Ba2  
1,030,237
870
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT),
(UB)
(5)
10/32
at
100.00
A3  
930,126
2,840
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009,
0.000%,
10/01/42
-
BAM
Insured
No
Opt.
Call
A2  
1,245,368
1,500
Mirada
II
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R  
1,172,445
500
Sawyers
Landing
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2021,
4.250%,
5/01/53,
144A
5/31
at
100.00
N/R  
395,170
1,145
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A,
4.000%,
5/01/44
5/26
at
100.00
Aa3  
1,121,241
500
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B,
4.625%,
5/01/36,
144A
9/23
at
100.00
N/R  
463,435
425
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021,
2.700%,
5/01/31
No
Opt.
Call
N/R  
364,514
470
Windward
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2020A-2,
4.400%,
11/01/35
No
Opt.
Call
N/R  
442,115
Total
Florida
92,911,461
Georgia
-
0.2%
(0.2%
of
Total
Investments)
500
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2021A,
3.000%,
2/15/51
-
BAM
Insured
2/31
at
100.00
AA  
380,150
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
188
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
$
1,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A,
4.000%,
4/01/42
4/27
at
100.00
A2  
$
970,010
Total
Georgia
1,350,160
Guam
-
0.4%
(0.3%
of
Total
Investments)
Guam
A.B.
Won
Pat  International
Airport
Authority,
Revenue
Bonds,
Series
2021A:
750
2.499%,
10/01/25
No
Opt.
Call
Baa2  
696,968
835
2.899%,
10/01/27
No
Opt.
Call
Baa2  
746,081
765
3.099%,
10/01/28
No
Opt.
Call
Baa2  
672,840
450
4.460%,
10/01/43
10/31
at
100.00
Baa2  
347,895
Total
Guam
2,463,784
Illinois
-
7.5%
(5.6%
of
Total
Investments)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023:
1,000
5.250%,
4/01/34
4/33
at
100.00
A  
1,124,040
1,055
5.000%,
4/01/41
4/33
at
100.00
A  
1,100,534
1,275
5.500%,
4/01/43
4/33
at
100.00
A  
1,385,581
2,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2021A,
5.000%,
12/01/34
12/30
at
100.00
BB+  
2,078,920
15,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Series
2014,
5.250%,
12/01/49
12/24
at
100.00
AA  
15,222,900
1,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Second
Lien
Series
2014A,
5.000%,
1/01/31
1/24
at
100.00
A3  
1,005,420
Cook
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2021A:
2,475
4.000%,
11/15/39
11/30
at
100.00
AA-  
2,474,728
475
4.000%,
11/15/40
11/30
at
100.00
AA-  
468,820
750
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
4.000%,
2/15/41
2/27
at
100.00
Aa2  
741,682
240
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022,
5.000%,
3/01/34
9/32
at
100.00
BBB-  
249,977
875
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A,
5.000%,
11/01/49
11/26
at
103.00
N/R  
694,426
815
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-
Elmhurst
Health
Credit
Group,
Series
2022A,
5.000%,
8/15/47
8/32
at
100.00
AA-  
868,904
4,400
Illinois
State,
General
Obligation
Bonds,
Build
America
Taxable
Bonds,
Series
2010-4,
7.100%,
7/01/35
No
Opt.
Call
BBB+  
4,869,392
1,500
Illinois
State,
General
Obligation
Bonds,
May
Series
2014,
5.000%,
5/01/32
5/24
at
100.00
BBB+  
1,520,325
4,615
Illinois
State,
General
Obligation
Bonds,
Taxable
Build
America
Bonds,
Series
2010-3,
6.725%,
4/01/35
No
Opt.
Call
BBB+  
4,965,461
1,730
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A,
5.000%,
1/01/43
(WI/DD,
Settling
5/18/23)
7/33
at
100.00
Aa3  
1,962,408
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A:
1,290
0.000%,
12/15/35
12/31
at
90.33
BBB  
746,652
1,800
0.000%,
6/15/39
12/31
at
81.66
BBB  
851,184
1,500
0.000%,
6/15/40
12/31
at
79.15
BBB  
668,160
1,415
0.000%,
12/15/40
12/31
at
78.00
BBB  
615,596
550
0.000%,
12/15/41
12/31
at
75.58
BBB  
225,841
189
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
5,190
Romeoville,
Will
County,
Illinois,
Revenue
Bonds,
Lewis
University
Project,
Series
2015,
5.000%,
10/01/35
4/25
at
100.00
BBB  
$
5,237,904
Total
Illinois
49,078,855
Indiana
-
3.0%
(2.3%
of
Total
Investments)
6,750
Fort
Wayne,
Indiana
Economic
Development,
Solid
Waste
Facility
Revenue
Bonds,
Do
Good
Foods
LLC
Fort
Wayne,
Series
2022A-1,
9.000%,
12/01/44,
(AMT),
144A
12/29
at
105.00
N/R  
6,704,640
1,415
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A,
5.875%,
6/01/55,
144A
6/30
at
100.00
N/R  
1,222,900
1,190
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Depauw
University
Project,
Series
2019,
5.000%,
7/01/37
7/29
at
100.00
Baa1  
1,235,042
3,445
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Rose
Hulman
Institute
Of
Technology
Project,
Series
2018,
5.000%,
6/01/39
12/28
at
100.00
A2  
3,665,204
1,625
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
6.750%,
5/01/39,
(AMT)
11/30
at
100.00
B1  
1,825,801
1,500
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2015I,
5.000%,
1/01/32,
(AMT)
1/25
at
100.00
A  
1,528,350
3,770
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
4.400%,
11/01/45,
(AMT),
(Mandatory
Put
6/10/31)
No
Opt.
Call
A2  
3,905,908
Total
Indiana
20,087,845
Iowa
-
0.3%
(0.2%
of
Total
Investments)
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022:
1,745
5.000%,
12/01/50,
(Mandatory
Put
12/01/42)
12/29
at
103.00
BBB-  
1,752,835
Total
Iowa
1,752,835
Kentucky
-
0.8%
(0.6%
of
Total
Investments)
3,000
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020,
6.000%,
12/01/40
12/30
at
100.00
N/R  
2,660,310
2,175
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
2.125%,
10/01/34,
(AMT)
6/31
at
100.00
A  
1,739,674
1,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B,
5.500%,
12/01/60
12/30
at
100.00
N/R  
814,010
Total
Kentucky
5,213,994
Louisiana
-
0.5%
(0.4%
of
Total
Investments)
1,150
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A,
5.250%,
6/01/51,
144A
6/31
at
100.00
N/R  
959,031
2,000
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010,
6.350%,
7/01/40,
144A
6/30
at
100.00
BB-  
2,162,940
Total
Louisiana
3,121,971
Maryland
-
1.1%
(0.8%
of
Total
Investments)
200
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2022,
4.500%,
6/01/33,
144A
6/31
at
100.00
N/R  
196,812
2,200
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Urbana
Community
Development
Authority,
Refunding
Series
2020C,
4.000%,
7/01/50,
144A
7/30
at
100.00
N/R  
1,923,900
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
190
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
$
5,255
Frederick
County,
Maryland,
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020A,
5.000%,
7/01/43,
144A
7/30
at
102.00
N/R  
$
5,140,389
Total
Maryland
7,261,101
Massachusetts
-
0.7%
(0.5%
of
Total
Investments)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Northeastern
University,
Series
2022:
395
5.000%,
10/01/39
10/32
at
100.00
A1  
451,682
2,755
5.000%,
10/01/41
10/32
at
100.00
A1  
3,117,475
935
5.000%,
10/01/44
10/32
at
100.00
A1  
1,047,509
Total
Massachusetts
4,616,666
Michigan
-
0.8%
(0.6%
of
Total
Investments)
5,000
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Financial
Recovery
Series
2014B-1,
4.000%,
4/01/44
5/23
at
100.00
N/R  
3,689,000
710
Gerald
R.
Ford
International
Airport
Authority,
Kent
County,
Michigan,
Revenue
Bonds,
Limited
Tax
General
Obligation
Series
2021,
5.000%,
1/01/46,
(AMT)
1/32
at
100.00
AAA  
754,191
7,610
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2007
Sold
Tobacco
Receipts,
Series
2020B2-CL2,
0.000%,
6/01/65
12/30
at
18.38
N/R  
766,403
Total
Michigan
5,209,594
Minnesota
-
0.7%
(0.5%
of
Total
Investments)
3,745
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023,
5.500%,
3/01/53,
144A
3/33
at
100.00
N/R  
3,500,788
1,140
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2020A,
5.000%,
12/01/55
12/28
at
102.00
BB-  
942,632
Total
Minnesota
4,443,420
Missouri
-
1.2%
(0.9%
of
Total
Investments)
180
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2021,
4.000%,
3/01/41
3/31
at
100.00
BB-  
156,488
1,100
M150
and
135th
Street
Transporation
Development
District,
Kansas
City,
Missouri,
Transportation
Sales
Tax
Revenue
Bonds,
Series
2020A,
4.250%,
10/01/43
10/27
at
100.00
N/R  
913,286
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F,
4.000%,
11/15/45
11/24
at
100.00
A+  
2,880,120
3,625
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020,
5.000%,
10/01/45
-
AGM
Insured
10/30
at
100.00
A1  
3,846,379
Total
Missouri
7,796,273
Nevada
-
0.5%
(0.4%
of
Total
Investments)
2,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020,
6.750%,
2/15/38,
144A
2/31
at
100.00
N/R  
1,744,520
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
611
Sunstone
Phase
I
and
II,
Series
2020:
445
4.000%,
6/01/40
6/30
at
100.00
N/R  
392,565
1,145
4.125%,
6/01/50
6/30
at
100.00
N/R  
960,598
Total
Nevada
3,097,683
191
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Hampshire
-
0.1%
(0.1%
of
Total
Investments)
$
1,250
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Catholic
Medical
Center,
Series
2017,
3.750%,
7/01/40
7/27
at
100.00
Baa3  
$
1,060,038
Total
New
Hampshire
1,060,038
New
Jersey
-
0.4%
(0.3%
of
Total
Investments)
1,800
New
Jersey
Economic
Development
Authority,
Energy
Facilities
Revenue
Bonds,
UMM
Energy
Partners,
LLC
Project,
Series
2012A,
7.000%,
6/15/30
No
Opt.
Call
Baa2  
1,799,961
750
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A,
3.375%,
7/01/30
7/27
at
100.00
BB+  
733,193
545
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
4.000%,
6/15/50
12/30
at
100.00
A-  
515,232
Total
New
Jersey
3,048,386
New
Mexico
-
0.9%
(0.7%
of
Total
Investments)
7,000
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020,
8.000%,
5/01/40,
144A
11/23
at
103.00
N/R  
6,296,850
Total
New
Mexico
6,296,850
New
York
-
12.7%
(9.5%
of
Total
Investments)
1,240
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023,
7.250%,
6/01/55,
144A
12/30
at
100.00
N/R  
1,245,605
5,000
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1,
5.500%,
6/01/55,
144A
12/30
at
100.00
N/R  
3,956,600
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1:
1,310
5.000%,
6/01/40,
144A
12/30
at
100.00
N/R  
1,077,265
3,000
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R  
2,186,610
10,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Catholic
Health
System
Obligated
Group
Series
2019A,
4.000%,
7/01/45
7/29
at
100.00
Caa2  
7,024,500
10,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2014D-1,
5.250%,
11/15/44
11/24
at
100.00
BBB+  
10,076,600
4,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
F-1,
5.000%,
2/01/47
2/32
at
100.00
Aa1  
4,377,760
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2023
Series
A-1:
2,785
5.250%,
8/01/42
8/32
at
100.00
Aa1  
3,176,070
4,640
5.000%,
8/01/43
8/32
at
100.00
Aa1  
5,166,269
3,005
5.000%,
8/01/44
8/32
at
100.00
Aa1  
3,333,506
1,985
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2023F-1,
5.000%,
2/01/45
2/33
at
100.00
Aa1  
2,203,370
2,500
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
E-1,
5.250%,
4/01/44
4/33
at
100.00
AA  
2,852,725
3,045
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
Secured
by
Port
Authority
Consolidated
Bonds,
Refunding
Series
1WTC-2021,
2.750%,
2/15/44
-
BAM
Insured
2/30
at
100.00
AA  
2,284,237
3,530
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
5.000%,
3/15/41
9/32
at
100.00
AA+  
3,941,386
2,500
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Climate
Certified
Green
Series
2022C,
5.000%,
3/15/53
9/32
at
100.00
AA+  
2,715,925
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
192
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
3,500
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2022A,
5.000%,
3/15/45
9/32
at
100.00
Aa1  
$
3,849,195
180
New
York
Transportation
Development
Corporation,
New
York,
Facility
Revenue
Bonds,
Thruway
Service
Areas
Project,
Series
2021,
4.000%,
10/31/41,
(AMT)
10/31
at
100.00
BBB-  
165,004
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020:
11,250
5.250%,
8/01/31,
(AMT)
8/30
at
100.00
B-  
11,627,550
3,400
5.375%,
8/01/36,
(AMT)
8/30
at
100.00
B-  
3,439,338
420
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2021,
2.250%,
8/01/26,
(AMT)
No
Opt.
Call
B  
393,032
1,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
4.000%,
10/01/30,
(AMT)
No
Opt.
Call
BB+  
986,080
3,960
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Taxable
Series
2007B,
5.693%,
1/01/28
-
SYNCORA
GTY
Insured,
144A
No
Opt.
Call
C  
3,778,157
3,240
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2020A,
5.000%,
11/15/49
11/30
at
100.00
AA-  
3,471,887
Total
New
York
83,328,671
North
Carolina
-
0.4%
(0.3%
of
Total
Investments)
Greater
Asheville
Regional
Airport
Authority,
Airport
System
Revenue
Bonds,
Series
2023:
335
5.250%,
7/01/41
(WI/DD,
Settling
5/16/23)
No
Opt.
Call
A1  
365,546
340
5.250%,
7/01/43
(WI/DD,
Settling
5/16/23)
No
Opt.
Call
A1  
368,314
1,365
5.250%,
7/01/48
(WI/DD,
Settling
5/16/23)
No
Opt.
Call
A1  
1,466,176
370
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
The
Forest
at
Duke,
Inc.,
Series
2021,
4.000%,
9/01/46
9/28
at
103.00
BBB-  
306,438
Total
North
Carolina
2,506,474
Ohio
-
3.3%
(2.5%
of
Total
Investments)
2,115
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
4.000%,
6/01/48
6/30
at
100.00
BBB+  
1,872,515
675
Butler
County,
Ohio,  Hospital
Facilities
Revenue
Bonds,
UC
Health,
Refunding
Series
2017,
4.000%,
11/15/23
No
Opt.
Call
Baa2  
672,955
1,000
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-
1,
5.000%,
12/01/51
6/29
at
100.00
N/R  
982,000
1,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
3.375%,
8/01/29,
(Mandatory
Put
9/15/21)
No
Opt.
Call
BBB-  
910,570
1,000
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Fixed
Interest
Rate
Series
2020A,
3.000%,
1/15/45
1/30
at
100.00
A  
764,410
21,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020A,
7.000%,
12/01/42,
(AMT),
144A
12/27
at
103.00
N/R  
15,672,720
1,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020B,
10.000%,
12/01/27,
(AMT),
144A
12/26
at
105.00
N/R  
926,590
Total
Ohio
21,801,760
193
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oregon
-
0.2%
(0.1%
of
Total
Investments)
$
1,085
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Green
Series
2023-29,
5.500%,
7/01/48,
(AMT)
7/33
at
100.00
AA-  
$
1,197,146
Total
Oregon
1,197,146
Pennsylvania
-
4.5%
(3.4%
of
Total
Investments)
1,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2019A,
4.000%,
7/15/37
7/29
at
100.00
A  
1,001,780
930
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021,
6.000%,
5/01/42,
144A
5/31
at
100.00
N/R  
948,907
500
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-  
371,085
1,000
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2017,
5.125%,
10/15/41,
144A
10/27
at
100.00
BB  
912,480
2,000
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020,
6.250%,
10/15/53,
144A
10/28
at
100.00
BB  
2,009,980
9,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-2,
5.000%,
2/15/39
2/27
at
100.00
A2  
9,306,180
3,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Facilities
Revenue
Bonds,
Constellation
Energy
Generation
LLC
Project,
Refunding
Series
2023A,
4.100%,
10/01/53,
(Mandatory
Put
4/03/28)
No
Opt.
Call
BBB  
3,053,430
1,300
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
No
Opt.
Call
N/R  
1,074,957
2,960
Pennsylvania
Economic
Development
Financing
Authority,
Parking
System
Revenue
Bonds,
Capitol
Region
Parking
System,
Junior
Guaranteed
Series
2013B,
0.000%,
1/01/45
-
BAM
Insured
No
Opt.
Call
A3  
977,954
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2022B:
30
5.250%,
12/01/41
12/32
at
100.00
A1  
33,598
485
5.250%,
12/01/42
12/32
at
100.00
A1  
539,296
1,310
5.250%,
12/01/44
12/32
at
100.00
A1  
1,450,314
1,965
5.250%,
12/01/47
12/32
at
100.00
A1  
2,163,072
5,000
5.250%,
12/01/52
12/32
at
100.00
A1  
5,481,900
Total
Pennsylvania
29,324,933
Puerto
Rico
-
3.8%
(2.8%
of
Total
Investments)
850
HTA
Claas
6,
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds,
Series
2022,
5.250%,
7/01/38
5/23
at
100.00
N/R  
850,209
6,500
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B,
4.000%,
7/01/42,
144A
7/31
at
100.00
N/R  
5,525,260
8,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX,
3.978%,
7/01/40
(4)
5/23
at
100.00
D  
5,640,000
1,000
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1,
4.550%,
7/01/40
7/28
at
100.00
N/R  
957,720
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
447
5.250%,
7/01/23
No
Opt.
Call
N/R  
447,326
267
0.000%,
7/01/24
No
Opt.
Call
N/R  
253,482
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
194
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
$
891
5.375%,
7/01/25
No
Opt.
Call
N/R  
$
908,253
883
5.625%,
7/01/27
No
Opt.
Call
N/R  
921,163
869
5.625%,
7/01/29
No
Opt.
Call
N/R  
919,620
844
5.750%,
7/01/31
No
Opt.
Call
N/R  
904,811
1,029
0.000%,
7/01/33
7/31
at
89.94
N/R  
602,145
800
4.000%,
7/01/33
7/31
at
103.00
N/R  
733,779
719
4.000%,
7/01/35
7/31
at
103.00
N/R  
644,957
1,117
4.000%,
7/01/37
7/31
at
103.00
N/R  
978,755
839
4.000%,
7/01/41
7/31
at
103.00
N/R  
706,719
873
4.000%,
7/01/46
7/31
at
103.00
N/R  
710,196
6,474
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
2022
1
No
Opt.
Call
N/R  
3,051,023
Total
Puerto
Rico
24,755,418
South
Carolina
-
0.3%
(0.2%
of
Total
Investments)
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Columbia
College,
Refunding
Series
2020A,
5.625%,
10/01/40
10/27
at
103.00
N/R  
902,760
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A,
5.000%,
11/15/55,
144A
11/26
at
100.00
N/R  
866,570
250
South
Carolina
Jobs-Economic
Development
Authority,
Retirement
Community
Revenue
Notes,
Kiawah
Life
Plan
Village,
Inc.
Project,
Series
2021A,
8.750%,
7/01/25
5/23
at
100.00
N/R  
269,510
Total
South
Carolina
2,038,840
Texas
-
12.9%
(9.7%
of
Total
Investments)
500
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
Second-Lien
Series
2021B,
5.000%,
10/01/50,
144A
10/31
at
100.00
N/R  
417,080
2,500
Argyle
Independent
School
District,
Denton
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2022,
5.000%,
8/15/47
8/32
at
100.00
Aaa  
2,771,100
755
Bexar
County,
Texas,
Venue
Project
Revenue
Bonds,
Taxable
Refunding
Combined
Venue
Tax
Series
2021,
3.031%,
8/15/41
-
AGM
Insured
8/31
at
100.00
A-  
562,611
1,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021D,
4.000%,
1/01/44
7/31
at
100.00
A-  
948,760
225
City
of
Midlothian,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project,
Special
Assessment
Revenue
Bonds,
Series
2022,
4.750%,
9/15/32,
144A
No
Opt.
Call
N/R  
218,689
5,405
Community
Independent
School
District,
Collin
&
Hunt
Counties,
Texas,
School
Building
Series
2022A,
5.000%,
2/15/52
2/31
at
100.00
AAA  
5,907,989
1,000
Flower
Mound,
Texas,
Special
Assessment
Revenue
Bonds,
River
Walk
Public
Improvement
District
1,
Refunding
Series
2021,
3.500%,
9/01/36,
144A
9/31
at
100.00
N/R  
828,200
5,625
Lamar
Consolidated
Independent
School
District,
Fort
Bend
County,
Texas,
General
Obligation
Bonds,
Schoolhouse
Series
2023,
5.500%,
2/15/58
-
AGM
Insured
2/33
at
100.00
Aa3  
6,404,794
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds,
Refunding
Series
2021:
5,610
4.000%,
11/01/38
-
AGM
Insured,
(AMT)
11/31
at
100.00
A  
5,575,779
1,000
4.000%,
11/01/39
-
AGM
Insured,
(AMT)
11/31
at
100.00
A  
985,690
375
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2021,
5.000%,
5/15/41
5/30
at
100.00
A  
406,695
195
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
500
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021,
4.125%,
9/01/41,
144A
9/31
at
100.00
N/R  
$
433,465
625
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement  District
Improvement
Area
3
Project,
Series
2021,
3.625%,
9/15/41,
144A
9/31
at
100.00
N/R  
493,981
5,885
Melissa
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
Series
2022,
5.000%,
2/01/52
8/32
at
100.00
AAA  
6,422,830
4,175
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Southwest
Preparatory
School,
Series
2020A,
5.000%,
8/15/50,
144A
8/25
at
103.00
BB+  
3,751,279
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1:
6,795
5.250%,
1/01/42
1/28
at
103.00
N/R  
5,165,423
6,465
5.500%,
1/01/57
1/28
at
103.00
N/R  
4,639,090
Pflugerville
Independent
School
District,
Travis
and
Williamson
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023A:
1,485
4.000%,
2/15/42
2/33
at
100.00
AA+  
1,487,109
2,075
4.000%,
2/15/44
2/33
at
100.00
AA+  
2,054,935
3,500
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B,
4.100%,
1/01/28,
144A
7/23
at
102.05
N/R  
2,842,840
6,675
Rockwall
Independent
School
District,
Rockwall,
Kaufman,
and
Collin
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2022A,
5.000%,
2/15/47
2/31
at
100.00
AAA  
7,311,795
2,020
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Major
Improvement
Area
Project,
Series
2020,
5.375%,
9/15/40,
144A
9/30
at
100.00
N/R  
1,972,106
2,000
Spring
Independent
School
District,
Hardin
County,
Texas,
Unlimited
Tax
School
Building
Bonds,
Series
2023,
4.000%,
8/15/52
8/33
at
100.00
AA-  
1,927,240
450
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Taxable
Series
2021,
3.292%,
9/01/40
-
AGM
Insured
9/30
at
100.00
A1  
358,866
Tarrant
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Limited
Tax
Series
2023:
1,000
4.000%,
8/15/43
8/32
at
100.00
AA  
984,380
2,165
4.250%,
8/15/48
8/32
at
100.00
AA  
2,131,551
4,750
5.250%,
8/15/48
8/32
at
100.00
AA  
5,321,092
1,500
5.250%,
8/15/53
8/32
at
100.00
AA  
1,669,935
3,540
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021,
4.000%,
10/15/51
10/31
at
100.00
AAA  
3,448,314
6,915
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2022,
4.800%,
10/15/52
10/32
at
100.00
AAA  
7,403,268
Total
Texas
84,846,886
Utah
-
0.2%
(0.2%
of
Total
Investments)
500
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.125%,
2/01/41,
144A
2/26
at
103.00
N/R  
391,055
985
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A,
5.125%,
7/15/51,
144A
1/25
at
102.00
N/R  
762,410
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
196
NDMO
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Utah
(continued)
Vineyard
Redevelopment
Agency,
Utah,
Tax
Increment
Revenue
Bonds,
Refunding
Series
2021:
$
60
4.000%,
5/01/36
-
AGM
Insured
5/31
at
100.00
AA  
$
62,527
95
4.000%,
5/01/38
-
AGM
Insured
5/31
at
100.00
AA  
96,958
Total
Utah
1,312,950
Virgin
Islands
-
0.5%
(0.4%
of
Total
Investments)
2,365
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/32
No
Opt.
Call
N/R  
2,400,333
1,000
West
Indian
Company
Limited,
Virgin
Island,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.125%,
10/01/42,
144A
10/29
at
104.00
N/R  
966,620
Total
Virgin
Islands
3,366,953
Virginia
-
1.1%
(0.8%
of
Total
Investments)
600
Virginia
Commonwealth
Transportation
Board,
Interstate
81
Corridor
Program
Revenue
Bonds,
Senior
Lien
Series
2021,
4.000%,
5/15/36
5/31
at
100.00
AA-  
631,086
Virginia
Port
Authority,
Commonwealth
Port
Fund
Revenue
Bonds,
Series
2023A:
270
5.000%,
7/01/41
(WI/DD,
Settling
5/11/23)
7/33
at
100.00
AA+  
307,076
430
5.000%,
7/01/42
(WI/DD,
Settling
5/11/23)
7/33
at
100.00
AA+  
487,710
525
5.000%,
7/01/43
(WI/DD,
Settling
5/11/23)
7/33
at
100.00
AA+  
593,156
2,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
5.000%,
12/31/47,
(AMT)
6/27
at
100.00
Baa3  
2,002,840
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022:
770
5.000%,
12/31/47,
(AMT)
12/32
at
100.00
Baa1  
776,753
1,230
5.000%,
12/31/52,
(AMT)
12/32
at
100.00
Baa1  
1,234,871
1,000
Virginia
Small
Business
Financing
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Virginia
Beach
Oceanfront
South
Hotel
Project,
Senior
Series
2020A-1,
8.000%,
10/01/43,
144A
10/30
at
120.40
N/R  
1,047,470
Total
Virginia
7,080,962
Washington
-
1.6%
(1.2%
of
Total
Investments)
1,000
University
of
Washington,
General
Revenue
Bonds,
Series
2020A,
4.000%,
4/01/45
4/30
at
100.00
AA+  
995,920
2,145
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D,
5.000%,
10/01/41
10/24
at
100.00
A  
2,142,876
1,915
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Refunding
Series
2021B,
4.000%,
10/01/42,
(Mandatory
Put
10/01/30)
No
Opt.
Call
A  
1,952,611
2,000
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2021B.  Exchange
Purchase,
3.000%,
7/01/58
7/31
at
100.00
BB+  
1,274,360
3,500
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2022A-2,
5.000%,
8/01/40
8/31
at
100.00
AA+  
3,939,810
Total
Washington
10,305,577
West
Virginia
-
0.6%
(0.5%
of
Total
Investments)
3,890
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020,
7.625%,
12/01/40,
144A
12/27
at
103.00
N/R  
3,134,523
197
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
West
Virginia
(continued)
$
1,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Arch
Resources
Project,
Series
2021,
4.125%,
7/01/45,
(AMT),
(Mandatory
Put
7/01/25)
1/25
at
100.00
B2  
$
984,810
Total
West
Virginia
4,119,333
Wisconsin
-
3.5%
(2.7%
of
Total
Investments)
3,000
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A,
5.500%,
12/01/32,
144A
12/26
at
100.00
N/R  
2,497,380
6,350
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A,
5.000%,
1/01/56,
144A
1/28
at
100.00
N/R  
5,365,242
200
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A,
6.125%,
6/15/57
6/29
at
101.00
N/R  
187,158
1,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A,
5.000%,
6/01/56,
144A
6/28
at
100.00
N/R  
817,750
1,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021,
5.000%,
8/01/51,
144A
8/28
at
100.00
N/R  
812,500
Public
Finance
Authority
of
Wisconsin,
Health
Care
Facilities
Revenue
Bonds,
Appalachian
Regional
Healthcare
System
Obligated
Group,
Series
2021A:
300
5.000%,
7/01/35
1/31
at
100.00
BBB  
323,076
190
5.000%,
7/01/38
1/31
at
100.00
BBB  
198,930
2,000
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Senior
Lien
Series
2022A,
5.000%,
2/01/52
2/32
at
100.00
BBB-  
2,000,260
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B:
1,670
5.625%,
2/01/46,
144A
2/32
at
100.00
N/R  
1,665,157
2,000
6.000%,
2/01/62,
144A
2/32
at
100.00
N/R  
2,024,120
5,000
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017,
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R  
4,342,700
1,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022B,
4.000%,
10/01/46,
(Mandatory
Put
10/01/30)
No
Opt.
Call
A  
1,026,830
2,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
4.000%,
7/01/41,
(AMT)
7/31
at
100.00
N/R  
1,565,120
200
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Wonderful
Foundations
Charter
School
WFCS
Portfolio
Projects,
Senior
Series
2021A-1,
5.000%,
1/01/56,
144A
1/31
at
100.00
N/R  
151,328
205
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Gundersen
Health
System,
Refunding
Series
2021A,
3.000%,
10/15/37
10/31
at
100.00
AA-  
178,820
Total
Wisconsin
23,156,371
Total
Municipal
Bonds
(cost
$832,796,370)
771,399,912
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
99,267,574
U.S.
GOVERNMENT
AND
AGENCY
OBLIGATIONS
-
15.1%
(11.4%
of
Total
Investments)
X
99,267,574
$
40,000
United
States
Treasury
Bill
0.000%
5/25/23
AA+
$
39,886,767
30,000
United
States
Treasury
Bill
0.000%
7/06/23
AA+
29,729,125
20,000
United
States
Treasury
Bill
0.000%
7/13/23
AA+
19,799,807
Nuveen
Dynamic
Municipal
Opportunities
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
198
NDMO
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
$
10,000
United
States
Treasury
Bill
0.000%
8/17/23
AA+
$
9,851,875
Total
U.S.
Government
and
Agency
Obligations
(cost
$99,289,176)
99,267,574
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
3,445,768
CORPORATE
BONDS
-
0.5%
(0.4%
of
Total
Investments)
X
3,445,768
Electric
Utilities
-
0.1%
(0.1%
of
Total
Investments)
$
1,500
Talen
Energy
Supply
LLC
(4)
6.000%
12/15/36
N/R
$
450,000
Total
Electric
Utilities
450,000
Health
Care
Providers
&
Services
-
0.3%
(0.2%
of
Total
Investments)
3,000
Toledo
Hospital/The
6.015%
11/15/48
BB
2,107,500
Total
Health
Care
Providers
&
Services
2,107,500
Independent
Power
And
Renewable
Electricity
Producers
-
0.0%
(0.0%
of
Total
Investments)
1,227
Talen
Energy
Corp
0.000%
8/31/23
N/R
392,679
Total
Independent
Power
And
Renewable
Electricity
Producers
392,679
Real
Estate
Management
&
Development
-
0.1%
(0.1%
of
Total
Investments)
517
Benloch
Ranch
Improvement
Association
No
12022
2022,
144A
(6)
9.750%
12/01/39
N/R
495,589
Total
Real
Estate
Management
&
Development
495,589
Total
Corporate
Bonds
(cost
$3,362,951)
3,445,768
Total
Long-Term
Investments
(cost
$935,448,497)
874,113,254
Floating
Rate
Obligations
-
(0.1)%
(
650,000
)
MFP
Shares,
Net
-
(36.5)%(7)
(
239,589,845
)
Other
Assets
&
Liabilities,
Net
-   3.5%
22,824,950
Net
Assets
Applicable
to
Common
Shares
-
100%
$
656,698,359
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
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.
(4)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(5)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(6)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(7)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
27.4%.
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.
AMT
Alternative
Minimum
Tax
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Statement
of
Assets
and
Liabilities
See
Notes
to
Financial
Statements
199
April
30,
2023
(Unaudited)
NVG
NZF
NMZ
NMCO
NDMO
ASSETS
Long-term
investments,
at
value
$
4,741,655,746‌
$
4,273,850,906‌
$
1,974,733,477‌
$
1,107,492,325‌
$
874,113,254‌
Short-term
investments,
at
value
20,000,000‌
–‌
–‌
–‌
–‌
Cash
13,342,491‌
38,258‌
1,268,073‌
1,831,118‌
14,950,588‌
Receivables:
Dividends
–‌
1,937‌
–‌
–‌
–‌
Interest
69,075,270‌
62,133,376‌
45,859,898‌
25,235,366‌
17,428,421‌
Investments
sold
27,009,189‌
101,238,413‌
12,390,049‌
2,147,062‌
6,756,918‌
Deferred
offering
costs
80,165‌
–‌
272,668‌
216,315‌
282,436‌
Other
assets
2,081,592‌
986,076‌
217,169‌
146,810‌
45,168‌
Total
assets
4,873,244,453‌
4,438,248,966‌
2,034,741,334‌
1,137,068,996‌
913,576,785‌
LIABILITIES
Borrowings
–‌
65,500,000‌
–‌
–‌
–‌
Floating
rate
obligations
207,070,000‌
349,316,000‌
428,766,000‌
25,350,000‌
650,000‌
AMTP
Shares,
Net
*
–‌
–‌
356,487,158‌
–‌
–‌
MFP
Shares,
Net
**
515,805,687‌
640,101,331‌
–‌
449,072,865‌
239,589,845‌
VRDP
Shares,
Net
***
1,233,840,625‌
673,444,496‌
–‌
–‌
–‌
Payables:
Dividends
8,606,737‌
7,776,941‌
4,944,432‌
2,584,176‌
3,367,793‌
Interest
4,139,463‌
5,334,952‌
9,294,634‌
581,873‌
4,005‌
Investments
purchased
-
regular
settlement
89,778‌
12,840,144‌
–‌
—‌
3,731,454‌
Investments
purchased
-
when-issued/delayed-delivery
settlement
6,596,675‌
47,102,815‌
–‌
3,809,977‌
8,732,595‌
Offering
costs
–‌
–‌
2,705‌
–‌
–‌
Accrued
expenses:
Custodian
fees
336,683‌
332,475‌
128,920‌
84,333‌
90,753‌
Investor
relations
84,726‌
71,573‌
26,262‌
17,180‌
12,739‌
Management
fees
2,401,818‌
2,122,251‌
1,046,300‌
819,044‌
617,409‌
Trustees
fees
1,169,811‌
800,672‌
135,426‌
25,188‌
21,322‌
Professional
fees
16,612‌
67,336‌
13,864‌
4,033‌
16,164‌
Shareholder
reporting
expenses
86,904‌
74,483‌
33,885‌
19,294‌
18,173‌
Shareholder
servicing
agent
fees
12,582‌
8,886‌
3,100‌
2,275‌
2,278‌
Shelf
offering
costs
–‌
–‌
–‌
67,553‌
–‌
Other
43,483‌
12,425‌
1,445‌
12,813‌
23,896‌
Total
liabilities
1,980,301,584‌
1,804,906,780‌
800,884,131‌
482,450,604‌
256,878,426‌
Commitments
and
contingencies
(1)
Net
assets
applicable
to
common
shares
$
2,892,942,869‌
$
2,633,342,186‌
$
1,233,857,203‌
$
654,618,392‌
$
656,698,359‌
Common
shares
outstanding
213,522,363‌
193,749,050‌
110,539,338‌
54,801,890‌
59,535,109‌
Net
asset
value
("NAV")
per
common
share
outstanding
$
13.55‌
$
13.59‌
$
11.16‌
$
11.95‌
$
11.03‌
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
CONSIST
OF:
Common
shares,
$0.01
par
value
per
share
$
2,135,224‌
$
1,937,491‌
$
1,105,393‌
$
548,019‌
$
595,351‌
Paid-in
capital
3,086,775,170‌
2,744,482,676‌
1,453,547,129‌
818,413,999‌
860,046,007‌
Total
distributable
earnings
(loss)
(195,967,525‌)
(113,077,981‌)
(220,795,319‌)
(164,343,626‌)
(203,942,999‌)
Net
assets
applicable
to
common
shares
$
2,892,942,869‌
$
2,633,342,186‌
$
1,233,857,203‌
$
654,618,392‌
$
656,698,359‌
Authorized
shares:
Common
Unlimited
Unlimited
Unlimited
Unlimited
Unlimited
Preferred
Unlimited
Unlimited
Unlimited
Unlimited
Unlimited
Long-term
investments,
cost
$
4,854,148,774‌
$
4,153,183,098‌
$
2,101,096,088‌
$
1,163,196,393‌
$
935,448,497‌
Short-term
investments,
cost
$
20,000,000‌
$
—‌
$
—‌
$
—‌
$
—‌
*
AMTP
Shares,
liquidation
preference
—‌
—‌
357,000,000‌
—‌
—‌
**
MFP
Shares,
liquidation
preference
517,400,000‌
641,000,000‌
—‌
450,000,000‌
240,000,000‌
***
VRDP
Shares,
liquidation
preference
1,236,600,000‌
677,000,000‌
—‌
—‌
—‌
(1)
As
disclosed
in
Notes
to
Financial
Statements.
Statement
of
Operations
See
Notes
to
Financial
Statements
200
Six
Months
Ended
April
30,
2023
(Unaudited)
NVG
NZF
NMZ
NMCO
NDMO
INVESTMENT
INCOME
Interest
$
110,810,727‌
$
89,720,088‌
$
52,152,510‌
$
31,035,937‌
$
22,138,274‌
Total
investment
income
110,810,727‌
89,720,088‌
52,152,510‌
31,035,937‌
22,138,274‌
EXPENSES
Management
fees
14,429,329‌
11,319,909‌
6,324,216‌
4,926,964‌
3,724,555‌
Shareholder
servicing
agent
fees
42,368‌
19,883‌
9,785‌
7,949‌
7,959‌
Interest
expense
and
amortization
of
offering
costs
30,328,656‌
29,070,360‌
14,715,404‌
8,768,530‌
4,814,229‌
Trustees
fees
65,508‌
50,571‌
23,029‌
15,505‌
13,474‌
Custodian
expenses,
net
164,726‌
164,225‌
87,488‌
44,859‌
31,143‌
Investor
relations
expenses
64,240‌
49,509‌
36,311‌
18,481‌
81,025‌
Liquidity
fees
4,639,526‌
621,874‌
—‌
409,664‌
—‌
Merger
expenses
—‌
13,105‌
—‌
—‌
—‌
Professional
fees
207,370‌
182,345‌
216,497‌
169,897‌
80,734‌
Remarketing
fees
1,278,957‌
38,161‌
—‌
50,278‌
—‌
Shareholder
reporting
expenses
113,341‌
79,123‌
50,504‌
26,794‌
30,591‌
Stock
exchange
listing
fees
31,458‌
20,840‌
39,798‌
7,861‌
12,024‌
Other
121,967‌
62,296‌
58,663‌
35,982‌
34,724‌
Total
expenses
51,487,446‌
41,692,201‌
21,561,695‌
14,482,764‌
8,830,458‌
Net
investment
income
(loss)
59,323,281‌
48,027,887‌
30,590,815‌
16,553,173‌
13,307,816‌
REALIZED
AND
UNREALIZED
GAIN
(LOSS)
Realized
gain
(loss)
from:
Investments
(38,621,079‌)
(27,674,495‌)
(32,977,637‌)
(22,598,959‌)
(41,441,904‌)
Futures
contracts
—‌
—‌
—‌
—‌
831,869‌
Net
realized
gain
(loss)
(38,621,079‌)
(27,674,495‌)
(32,977,637‌)
(22,598,959‌)
(40,610,035‌)
Change
in
unrealized
appreciation
(depreciation)
on:
Investments
328,046,650‌
241,995,990‌
165,505,196‌
67,478,453‌
95,801,579‌
Futures
contracts
—‌
—‌
—‌
—‌
(2,140,765‌)
Change
in
net
unrealized
appreciation
(depreciation)
328,046,650‌
241,995,990‌
165,505,196‌
67,478,453‌
93,660,814‌
Net
realized
and
unrealized
gain
(loss)
289,425,571‌
214,321,495‌
132,527,559‌
44,879,494‌
53,050,779‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
$
348,748,852‌
$
262,349,382‌
$
163,118,374‌
$
61,432,667‌
$
6
6,358,595‌
Statement
of
Changes
in
Net
Assets
See
Notes
to
Financial
Statements
201
NVG
NZF
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
59,323,281‌
$
156,378,770‌
$
48,027,887‌
$
107,801,856‌
Net
realized
gain
(loss)
(38,621,079‌)
(39,621,634‌)
(27,674,495‌)
(171,362,098‌)
Change
in
net
unrealized
appreciation
(depreciation)
328,046,650‌
(1,029,776,506‌)
241,995,990‌
(552,200,933‌)
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
348,748,852‌
(913,019,370‌)
262,349,382‌
(615,761,175‌)
DISTRIBUTIONS
TO
COMMON
SHAREHOLDERS
Dividends
(59,572,739‌)
(172,239,856‌)
(45,941,833‌)
(110,518,441‌)
Decrease
in
net
assets
applicable
to
common
shares
from
distributions
to
common
shareholders
(59,572,739‌)
(172,239,856‌)
(45,941,833‌)
(110,518,441‌)
CAPITAL
SHARE
TRANSACTIONS
Common
shares:
Fund
Reorganization/Merger
—‌
—‌
391,798,148‌
337,312,370‌
Net
proceeds
from
common
shares
issued
to
common
shareholders
due
to
reinvestment
of
distributions
—‌
1,689,861‌
—‌
—‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
capital
share
transactions
—‌
1,689,861‌
391,798,148‌
337,312,370‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
289,176,113‌
(1,083,569,365‌)
608,205,697‌
(388,967,246‌)
Net
assets
applicable
to
common
shares
at
the
beginning
of
the
period
2,603,766,756‌
3,687,336,121‌
2,025,136,489‌
2,414,103,735‌
Net
assets
applicable
to
common
shares
at
the
end
of
the
period
$
2,892,942,869‌
$
2,603,766,756‌
$
2,633,342,186‌
$
2,025,136,489‌
See
Notes
to
Financial
Statements
202
NMZ
NMCO
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
30,590,815‌
$
73,190,814‌
$
16,553,173‌
$
41,984,439‌
Net
realized
gain
(loss)
(32,977,637‌)
(59,668,730‌)
(22,598,959‌)
(20,149,038‌)
Change
in
net
unrealized
appreciation
(depreciation)
165,505,196‌
(412,043,906‌)
67,478,453‌
(215,318,529‌)
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
163,118,374‌
(398,521,822‌)
61,432,667‌
(193,483,128‌)
DISTRIBUTIONS
TO
COMMON
SHAREHOLDERS
Dividends
(31,947,080‌)
(77,261,266‌)
(17,672,804‌)
–‌
Decrease
in
net
assets
applicable
to
common
shares
from
distributions
to
common
shareholders
(31,947,080‌)
(77,261,266‌)
(17,672,804‌)
(39,698,302‌)
CAPITAL
SHARE
TRANSACTIONS
Common
shares:
Proceeds
from
shelf
offering,
net
of
offering
costs
9,590,166‌
162,568,435‌
357,037‌
19,150,641‌
Net
proceeds
from
common
shares
issued
to
common
shareholders
due
to
reinvestment
of
distributions
111,408‌
1,447,326‌
—‌
260,907‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
capital
share
transactions
9,701,574‌
164,015,761‌
357,037‌
19,411,548‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
140,872,868‌
(311,767,327‌)
44,116,900‌
(213,769,882‌)
Net
assets
applicable
to
common
shares
at
the
beginning
of
the
period
1,092,984,335‌
1,404,751,662‌
610,501,492‌
824,271,374‌
Net
assets
applicable
to
common
shares
at
the
end
of
the
period
$
1,233,857,203‌
$
1,092,984,335‌
$
654,618,392‌
$
610,501,492‌
See
Notes
to
Financial
Statements
203
NDMO
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
13,307,816‌
$
29,814,419‌
Net
realized
gain
(loss)
(40,610,035‌)
(87,702,703‌)
Change
in
net
unrealized
appreciation
(depreciation)
93,660,814‌
(199,839,884‌)
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
66,358,595‌
(257,728,168‌)
DISTRIBUTIONS
TO
COMMON
SHAREHOLDERS
Dividends
(25,588,952‌)
(29,662,852‌)
Return
of
Capital
–‌
(24,771,804‌)
Decrease
in
net
assets
applicable
to
common
shares
from
distributions
to
common
shareholders
(25,588,952‌)
(54,434,656‌)
CAPITAL
SHARE
TRANSACTIONS
Common
shares:
Proceeds
from
shelf
offering,
net
of
offering
costs
—‌
12,647,921‌
Net
proceeds
from
common
shares
issued
to
common
shareholders
due
to
reinvestment
of
distributions
774,652‌
1,121,470‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
capital
share
transactions
774,652‌
13,769,391‌
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
41,544,295‌
(298,393,433‌)
Net
assets
applicable
to
common
shares
at
the
beginning
of
the
period
615,154,064‌
913,547,497‌
Net
assets
applicable
to
common
shares
at
the
end
of
the
period
$
656,698,359‌
$
615,154,064‌
Statement
of
Cash
Flows
See
Notes
to
Financial
Statements
204
April
30,
2023
(Unaudited)
NVG
NZF
NMZ
NMCO
NDMO
CASH
FLOWS
FROM
OPERATING
ACTIVITIES
Net
Increase
(Decrease)
in
Net
Assets
Applicable
to
Common
Shares
from
Operations
$
348,748,852‌
$
262,349,382‌
$
163,118,374‌
$
61,432,667‌
$
66,358,595‌
Adjustments
to
reconcile
the
net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
to
net
cash
provided
by
(used
in)
operating
activities:
Purchases
of
investments
(303,906,027‌)
(510,084,537‌)
(305,836,368‌)
(121,793,871‌)
(330,726,606‌)
Proceeds
from
sale
and
maturities
of
investments
428,893,265‌
350,637,957‌
329,948,365‌
142,320,049‌
304,977,328‌
Proceeds
from
(Purchase
of)
short-term
investments,
net
(20,000,000‌)
—‌
—‌
—‌
—‌
Taxes
paid
(15,418‌)
(2,049‌)
(39,730‌)
(26,574‌)
(16,444‌)
Amortization
(Accretion)
of
premiums
and
discounts,
net
(8,791,667‌)
(10,752,646‌)
(3,782,180‌)
(3,346,859‌)
(120,297‌)
Amortization
of
deferred
offering
costs
710,164‌
475,414‌
33,912‌
54,573‌
15,495‌
(Increase)
Decrease
in:
Receivable
for
dividends
—‌
921‌
—‌
—‌
—‌
Receivable
for
interest
(1,440,437‌)
(3,626,971‌)
(3,661,020‌)
(1,143,778‌)
1,573,290‌
Receivable
for
investments
sold
(2,787,339‌)
5,734,659‌
7,555,196‌
14,420,237‌
(6,376,918‌)
Receivable
for
variation
margin
on
futures
contracts
—‌
—‌
—‌
—‌
172,125‌
Other
assets
(199,819‌)
(60,744‌)
(82,804‌)
(42,777‌)
(15,336‌)
Increase
(Decrease)
in:
Payable
for
interest
2,374,329‌
3,617,317‌
4,968,122‌
268,083‌
(1,310,916‌)
Payable
for
investments
purchased
-
regular
settlement
89,778‌
(41,380,284‌)
(17,587,406‌)
(23,719,349‌)
3,731,454‌
Payable
for
investments
purchased
-
when-issued/delayed-delivery
settlement
(2,282,185‌)
44,475,828‌
(9,402,867‌)
892,737‌
8,732,595‌
Payable
for
offering
cost
—‌
—‌
(11,624‌)
—‌
(190,634‌)
Accrued
custodian
fees
(51,805‌)
12,805‌
(23,275‌)
(21,949‌)
(28,853‌)
Accrued
investor
relations
fees
(36,721‌)
(18,333‌)
2,464‌
(6,286‌)
20,690‌
Accrued
management
fees
(48,847‌)
258,198‌
18,764‌
(6,752‌)
(12,509‌)
Accrued
Trustees
fees
73,677‌
48,785‌
5,479‌
(326‌)
(388‌)
Accrued
professional
fees
(44,833‌)
(7,532‌)
(22,427‌)
(24,159‌)
(50‌)
Accrued
shareholder
reporting
expenses
620‌
13,187‌
999‌
(152‌)
500‌
Accrued
shareholder
servicing
agent
fees
(2,047‌)
1,784‌
(6‌)
2,251‌
2,250‌
Accrued
shelf
offering
costs
—‌
—‌
(35,218‌)
(6,574‌)
(9,542‌)
Accrued
other
expenses
51,622‌
(279,559‌)
(19,783‌)
(40,238‌)
23,432‌
Net
realized
(gain)
loss
from
investments
38,621,079‌
27,674,495‌
32,977,637‌
22,598,959‌
41,441,904‌
Net
realized
(gain)
loss
from
paydowns
(4,492‌)
(8,245‌)
—‌
(332,016‌)
—‌
Change
in
net
unrealized
(appreciation)
depreciation
of
investments
(328,046,650‌)
(241,995,990‌)
(165,505,196‌)
(67,478,453‌)
(95,801,579‌)
Net
cash
provided
by
operating
activities
151,905,099‌
(112,916,158‌)
32,619,408‌
23,999,443‌
(7,560,414‌)
CASH
FLOWS
FROM
FINANCING
ACTIVITIES
Proceeds
from
borrowings
51,992,872‌
255,821,869‌
104,000,000‌
48,709,893‌
—‌
(Repayments)
of
borrowings
(51,992,872‌)
(230,321,869‌)
(104,000,000‌)
(56,909,893‌)
—‌
Proceeds
from
floating
rate
obligations
66,635,000‌
204,772,000‌
163,961,000‌
7,500,000‌
650,000‌
(Repayments
of)
floating
rate
obligations
(49,185,000‌)
(39,215,000‌)
(177,800,000‌)
—‌
(8,405,000‌)
(Repayments
for)
MFP
Shares
redeemed,
at
liquidation
preference
(138,000,000‌)
—‌
—‌
—‌
—‌
(Repayments
for)
VRDP
Shares
redeemed,
at
liquidation
preference
—‌
(50,000,000‌)
—‌
—‌
—‌
(Payments
for)
deferred
offering
costs
—‌
—‌
—‌
—‌
(118,149‌)
Proceeds
from
shelf
offering
11,542‌
—‌
9,590,841‌
357,111‌
(96‌)
Increase
(Decrease)
in
cash
overdraft
(544,737‌)
(2,845,247‌)
—‌
(3,752,896‌)
—‌
Cash
distributions
paid
to
common
shareholders
(61,979,413‌)
(46,130,905‌)
(32,583,494‌)
(18,072,540‌)
(25,549,757‌)
Net
cash
provided
by
(used
in)
financing
activities
(183,062,608‌)
92,080,848‌
(36,831,653‌)
(22,168,325‌)
(33,423,002‌)
Net
increase
(decrease)
in
cash
and
cash
collateral
at
brokers
(31,157,509‌)
(20,835,310‌)
(4,212,245‌)
1,831,118‌
(40,983,416‌)
Cash
and
Cash
Collateral
at
Brokers
at
the
beginning
of
period
44,500,000‌
—‌
5,480,318‌
—‌
55,934,004‌
Cash
acquired
in
connection
with
the
Reorganization
—‌
20,873,568‌
—‌
—‌
—‌
Cash
at
the
end
of
period
$
13,342,491‌
$
38,258‌
$
1,268,073‌
$
1,831,118‌
$
14,950,588‌
SUPPLEMENTAL
DISCLOSURE
OF
CASH
FLOW
INFORMATION
NVG
NZF
NMZ
NMCO
NDMO
Cash
paid
for
interest
$
27,125,796‌
$
24,657,818‌
$
9,363,105‌
$
8,327,964‌
$
6,091,296‌
Non-cash
financing
activities
not
included
herein
consists
of
reinvestments
of
common
share
distributions
—‌
—‌
111,408‌
—‌
774,652‌
Financial
Highlights
206
Ratios
of
Interest
Expense
to
Average
Net
Assets
Applicable
to
Common
Shares
NVG
NZF
4/30/23(c)
2.54
%
(d)
2.63
%
(d)
10/31/22
1.10
1.14
10/31/21
0.52
0.62
10/31/20
0.97
1.01
10/31/19
1.47
1.55
10/31/18
1.37
1.38
The
following
data
is
for
a
common
share
outstanding for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
to
Common
Shareholders
Common
Share
Beginning
Common
Share
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Ending
Net
Asset
Value
Ending
Share
Price
NVG
4/30/23(c)
$
12.19
$
0.28
$
1.36
$
1.64
$
(0.28)
$
$
(0.28)
$
13.55
$
11.80
10/31/22
17.28
0.73
(5.01)
(4.28)
(0.78)
(0.03)
(0.81)
12.19
11.03
10/31/21
16.76
0.82
0.60
1.42
(0.81)
(0.09)
(0.90)
17.28
17.29
10/31/20
17.17
0.82
(0.41)
0.41
(0.79)
(0.03)
(0.82)
16.76
15.62
10/31/19
15.48
0.79
1.72
2.51
(0.79)
(0.03)
(0.82)
17.17
16.45
10/31/18
16.39
0.81
(0.88)
(0.07)
(0.84)
(0.84)
15.48
13.40
NZF
4/30/23(c)
12.24
0.29
1.33
1.62
(0.27)
(0.27)
13.59
11.67
10/31/22
16.98
0.71
(4.72)
(4.01)
(0.73)
(0.73)
12.24
10.83
10/31/21
15.96
0.78
1.03
1.81
(0.79)
(0.79)
16.98
16.73
10/31/20
16.63
0.80
(0.71)
0.09
(0.76)
(0.76)
15.96
14.74
10/31/19
15.07
0.75
1.60
2.35
(0.79)
(0.79)
16.63
16.03
10/31/18
16.03
0.81
(0.94)
(0.13)
(0.83)
(0.83)
15.07
13.29
(a)
Percentage
is
not
annualized.
(b)
Net
Investment
Income
(Loss)
ratios
reflect
income
earned
and
expenses
incurred
on
assets
attributable
to
preferred
shares
issued
by
the
Fund,
where
applicable.
The
expense
ratios
reflect,
among
other
things,
all
interest
expenses
and
other
costs
related
to
preferred
shares
(as
described
in
Notes
to
Financial
Statements)
and/or
the
interest
expense
deemed
to
have
been
paid
by
the
Fund
on
the
floating
rate
certificates
issued
by
the
special
purpose
trusts
for
the
self-deposited
inverse
floaters
held
by
the
Fund
(as
described
in
Notes
to
Financial
Statements),
where
applicable,
as
follows:
See
Notes
to
Financial
Statements.
207
Common
Share
Supplemental
Data/
Ratios
Applicable
to
Common
Shares
Common
Share
Total
Returns
Ratios
to
Average
Net
Assets
Based
on
Net
Asset
Value(a)
Based
on
Share
Price(a)
Ending
Net
Assets
(000)
Expenses(b)
Net
Investment
Income
(Loss)
Portfolio
Turnover
Rate
13.47‌
%
9.48‌
%
$
2,892,943
3.62‌
%
(d)
4.17‌
%
(d)
6‌
%
(25.56‌)
(32.54‌)
2,603,767
2.16‌
4.83‌
19‌
8.54‌
16.65‌
3,687,336
1.52‌
4.70‌
12‌
2.53‌
0.06‌
3,576,356
1.98‌
4.89‌
15‌
16.52‌
29.47‌
3,476,962
2.49‌
4.82‌
6‌
(0.50‌)
(6.49‌)
3,134,970
2.40‌
5.02‌
15‌
13.20‌
10.24‌
2,633,342
3.74‌
(d)
4.30‌
(d)
9‌
(24.20‌)
(31.77‌)
2,025,136
2.20‌
4.78‌
61‌
11.45‌
19.05‌
2,414,104
1.61‌
4.60‌
15‌
0.58‌
(3.34‌)
2,267,965
2.04‌
4.95‌
21‌
15.90‌
27.08‌
2,364,022
2.60‌
4.68‌
12‌
(0.85‌)
(6.21‌)
2,141,680
2.43‌
5.17‌
25‌
(c)
Unaudited.
(d)
Annualized.
Financial
Highlights
(continuted)
208
Ratios
of
Interest
Expense
to
Average
Net
Assets
Applicable
to
Common
Shares
NMZ
NMCO
4/30/23(c)
2.41
%
(d)
2.82
%
(d)
10/31/22
0.93
1.21
10/31/21
0.36
0.72
10/31/20
0.66
0.10
10/31/19
1.16
(d)
,(f)
10/31/18
0.91
N/A
The
following
data
is
for
a
common
share
outstanding for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
to
Common
Shareholders
Common
Share
Beginning
Common
Share
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Shelf
Offering
Costs
Premium
per
Share
Sold
through
Shelf
Offering
Ending
Net
Asset
Value
Ending
Share
Price
NMZ
4/30/23(c)
$
9.97
$
0.28
$
1.19
$
1.47
$
(0.29)
$
$
(0.29)
$
$
0.01
$
11.16
$
10.80
10/31/22
14.53
0.70
(4.53)
(3.83)
(0.75)
(0.75)
—(e)
0.02
9.97
9.85
10/31/21
13.22
0.72
1.30
2.02
(0.77)
(0.77)
—(e)
0.06
14.53
14.71
10/31/20
14.04
0.70
(0.82)
(0.12)
(0.73)
(0.73)
—(e)
0.03
13.22
13.22
10/31/19
12.77
0.76
1.20
1.96
(0.70)
(0.70)
0.01
14.04
14.22
10/31/18
13.47
0.82
(0.78)
0.04
(0.74)
(0.74)
—(e)
12.77
11.76
NMCO
4/30/23(c)
11.15
0.30
0.82
1.12
(0.32)
(0.32)
11.95
11.09
10/31/22
15.47
0.78
(4.36)
(3.58)
(0.74)
(0.74)
—(e)
—(e)
11.15
10.39
10/31/21
12.81
0.82
2.58
3.40
(0.74)
(0.74)
—(e)
15.47
15.04
10/31/20
15.08
0.71
(2.25)
(1.54)
(0.73)
(0.73)
12.81
11.68
10/31/19(f)
15.00
0.04
0.04
0.08
15.08
15.39
(a)
Percentage
is
not
annualized.
(b)
Net
Investment
Income
(Loss)
ratios
reflect
income
earned
and
expenses
incurred
on
assets
attributable
to
preferred
shares,
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements),
where
applicable.
The
expense
ratios
reflect,
among
other
things,
all
interest
expense
and
other
costs
related
to
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements)
and/or
the
interest
expense
deemed
to
have
been
paid
by
the
Fund
on
the
floating
rate
certificates
issued
by
the
special
purpose
trusts
for
the
self-deposited
inverse
floaters
held
by
the
Fund
(as
described
in
Notes
to
Financial
Statements),
where
applicable,
as
follows:
See
Notes
to
Financial
Statements.
209
Common
Share
Supplemental
Data/
Ratios
Applicable
to
Common
Shares
Common
Share
Total
Returns
Ratios
to
Average
Net
Assets
Based
on
Net
Asset
Value(a)
Based
on
Share
Price(a)
Ending
Net
Assets
(000)
Expenses(b)
Net
Investment
Income
(Loss)(b)
Portfolio
Turnover
Rate
14.88‌
%
12.64‌
%
$
1,233,857
3.56‌
%
(d)
5.05‌
%
(d)
16‌
%
(27.13‌)
(28.88‌)
1,092,984
2.05‌
5.61‌
30‌
15.80‌
17.32‌
1,404,752
1.43‌
5.13‌
6‌
(0.49‌)
(1.84‌)
1,097,418
1.68‌
5.19‌
10‌
15.75‌
27.45‌
969,068
2.20‌
5.67‌
15‌
0.25‌
(7.93‌)
818,439
1.95‌
6.17‌
11‌
10.09‌
9.80‌
654,618
4.45‌
(d)
5.09‌
(d)
11‌
(23.88‌)
(26.91‌)
610,501
2.74‌
5.69‌
30‌
26.91‌
35.55‌
824,271
2.18‌
5.52‌
12‌
(10.33‌)
(19.78‌)
682,510
2.41‌
5.24‌
70‌
0.53‌
2.60‌
803,046
1.01‌
(d)
2.58‌
(d)
8‌
(c)
Unaudited.
(d)
Annualized.
(e)
(f)
Value
rounded
to
zero.
For
the
period
September
16,
2019
(commencement
of
operations)
through
October
31,
2019.
Financial
Highlights
(continuted)
210
Ratios
of
Interest
Expense
to
Average
Net
Assets
Applicable
to
Common
Shares
NDMO
4/30/23(c)
1.48
%
(d)
10/31/22
0.75
10/31/21
0.33
10/31/20(e)
0.03
(d)
The
following
data
is
for
a
common
share
outstanding for
each
fiscal year
end
unless
otherwise
noted:
Investment
Operations
Less
Distributions
to
Common
Shareholders
Common
Share
Beginning
Common
Share
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Return
of
Capital
Total
Premium
per
Share
Sold
through
Shelf
Offering
Ending
Net
Asset
Value
Ending
Share
Price
NDMO
4/30/23(c)
$
10.34
$
0.22
$
0.90
$
1.12
$
(0.43)
$
$
$
(0.43)
$
$
11.03
$
10.63
10/31/22
15.60
0.51
(4.85)
(4.34)
(0.50)
(0.42)
(0.92)
10.34
9.43
10/31/21
14.92
0.49
1.10
1.59
(0.50)
(0.31)
(0.11)
(0.92)
0.01
15.60
15.64
10/31/20(e)
15.00
0.03
(0.03)
(0.08)
(0.08)
14.92
15.00
(a)
Percentage
is
not
annualized.
(b)
Net
Investment
Income
(Loss)
ratios
reflect
income
earned
and
expenses
incurred
on
assets
attributable
to
preferred
shares,
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements),
where
applicable.
The
expense
ratios
reflect,
among
other
things,
all
interest
expense
and
other
costs
related
to
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements)
and/or
the
interest
expense
deemed
to
have
been
paid
by
the
Fund
on
the
floating
rate
certificates
issued
by
the
special
purpose
trusts
for
the
self-deposited
inverse
floaters
held
by
the
Fund
(as
described
in
Notes
to
Financial
Statements),
where
applicable,
as
follows:
See
Notes
to
Financial
Statements
211
Common
Share
Supplemental
Data/
Ratios
Applicable
to
Common
Shares
Common
Share
Total
Returns
Ratios
to
Average
Net
Assets
Based
on
Net
Asset
Value(a)
Based
on
Share
Price(a)
Ending
Net
Assets
(000)
Expenses(b)
Net
Investment
Income
(Loss)(b)
Portfolio
Turnover
Rate
10.79‌
%
17.35‌
%
$
656,698
2.72‌
%
(d)
4.09‌
%
(d)
35‌
%
(28.77‌)
(35.09‌)
615,154
2.07‌
3.78‌
61‌
10.77‌
10.47‌
913,547
1.55‌
3.02‌
63‌
(0.02‌)
0.51‌
846,790
0.89‌
(d)
1.06‌
(d)
4‌
(c)
Unaudited.
(d)
(e)
Annualized.
For
the
period
August
26,
2020
(commencement
of
operations)
through
October
31,
2020.
212
Financial
Highlights
(continued)
NVG
Asset
Coverage
Per
$1,000
Share(c)
Series
B
4/30/23(f)
$2,649
10/31/22
2,409
10/31/21
2,912
10/31/20
2,854
10/31/19
2,914
10/31/18
Series
C
4/30/23(f)
$2,649
10/31/22
2,409
10/31/21
10/31/20
10/31/19
10/31/18
The
following
table
sets
forth
information
regarding
each
Fund's
outstanding
senior
securities
as
of
the
end
of
each
of
the
Fund's
last
five
fiscal
periods,
as
applicable.
AMTP
Shares
MFP
Shares
VRDP
Shares
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b),(d)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Asset
Coverage
Per
$1
Liquidation
Preference(e)
NVG
4/30/23(f)
$
$
$
517,400
$
264,934
$
1,236,600
$
264,934
$
2.65
10/31/22
610,900
240,935
1,236,600
240,935
2.41
10/31/21
112,000
291,153
405,400
291,153
1,411,600
291,153
2.91
10/31/20
112,000
285,399
405,400
285,399
1,411,600
285,399
2.85
10/31/19
405,400
291,357
1,411,600
291,357
2.91
10/31/18
405,400
272,535
1,411,600
272,535
2.73
NZF
4/30/23(f)
641,000
290,339
677,000
290,339
2.90
10/31/22
641,000
243,831
727,000
243,831
2.44
10/31/21
641,000
276,470
727,000
276,470
2.76
10/31/20
641,000
265,787
727,000
265,787
2.66
10/31/19
641,000
272,809
727,000
272,809
2.73
10/31/18
641,000
256,556
727,000
256,556
2.57
(a)
Aggregate
Amount
Outstanding:
Aggregate
amount
outstanding
represents
the
liquidation
preference
as
of
the
end
of
the
relevant
fiscal
year
and
does
not
included
any
preferred
shares
noticed
for
redemption
as
noted
on
the
Statement
of
Assets
and
Liabilities,
where
applicable.
(b)
Asset
Coverage
Per
$100,000:
Asset
coverage
per
$100,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
100,000.
(c)
(
d)
Asset
Coverage
Per
$1,000:
Asset
coverage
per
$1,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
1,000.
NVG’s
Series
B
and
Series
C
MFP
Shares
have
a
$1,000
liquidation
preference
per
share,
while
all
other
MFP
Shares
have
a
$100,000
liquidation
preference
per
share.
The
asset
coverage
per
$1,000
share
for
NVG’s
Series
B
and
Series
C
MFP
Shares
were
as
follows:
(e)
Includes
all
preferred
shares
presented
for
the
Fund.
(f)
Unaudited.
Financial
Highlights
(continued)
213
The
following
table
sets
forth
information
regarding
each
Fund's
outstanding
senior
securities
as
of
the
end
of
each
of
the
Fund's
last
five
fiscal
periods,
as
applicable.
Borrowings
AMTP
Shares
MFP
Shares
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$1,000
Share(d)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
NMZ
4/30/23(c)
$
$
$
357,000
$
445,618
$
$
10/31/22
357,000
406,158
10/31/21
257,000
646,596
10/31/20
87,000
1,361,400
10/31/19
87,000
1,213,872
10/31/18
87,000
1,040,734
NMCO
4/30/23(c)
450,000
245,471
10/31/22
450,000
237,489
10/31/21
450,000
283,171
10/31/20
450,000
251,669
10/31/19(e)
NDMO
4/30/23(c)
240,000
373,624
10/31/22
240,000
356,314
10/31/21
191,900
5,761
10/31/20(f)
(a)
Aggregate
Amount
Outstanding:
Aggregate
amount
outstanding
represents
the
liquidation
preference
as
of
the
end
of
the
relevant
fiscal
year
and
does
not
included
any
preferred
shares
noticed
for
redemption
as
noted
on
the
Statement
of
Assets
and
Liabilities,
where
applicable.
(b)
(c)
(d)
(e)
(f)
Asset
Coverage
Per
$100,000:
Asset
coverage
per
$100,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
100,000.
Unaudited.
Asset
Coverage
Per
$1,000:
Asset
coverage
per
$1,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
1,000.
For
the
period
September
16,
2019
(commencement
of
operations)
through
October
31,
2019.
For
the
period
August
26,
2020
(commencement
of
operations)
through
October
31,
2020.
214
Notes
to
Financial
Statements
(Unaudited)
1.
General
Information 
Fund
Information:
The
funds
covered
in
this
report
and
their
corresponding
New
York
Stock
Exchange
(“NYSE”)
symbols
are
as
follows
(each
a
“Fund”
and
collectively,
the
“Funds”):
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(NVG)
Nuveen
Municipal
Credit
Income
Fund
(NZF)
Nuveen
Municipal
High
Income
Opportunity
Fund
(NMZ)
Nuveen
Municipal
Credit
Opportunities
Fund
(NMCO)
Nuveen
Dynamic
Municipal
Opportunities
Fund
(NDMO)
The
Funds
are
registered
under
the
Investment
Company
Act
of
1940
(the
“1940
Act”),
as
amended,
as
diversified
closed-end
management
investment
companies.
NVG,
NZF,
NMZ,
NMCO
and
NDMO
were
organized
as
Massachusetts
business
trusts
on
July
12,
1999,
March
21,
2001,
October
8,
2003,
April
18,
2019
and
November
4,
2019,
respectively.
Current
Fiscal
Period:
 The
end
of
the
reporting
period
for
the
Funds
is
April
30,
2023,
and
the
period
covered
by
these
Notes
to
Financial
Statements
is
the
six
months
ended
April
30,
2023
(the
"current
fiscal
period").
Investment
Adviser
and
Sub-Adviser:
The
Funds'
investment
adviser
is
Nuveen
Fund
Advisors,
LLC
(the
“Adviser”),
a
subsidiary
of
Nuveen,
LLC
(“Nuveen”).
Nuveen
is
the
investment
management
arm
of
Teachers
Insurance
and
Annuity
Association
of
America
(TIAA).
The
Adviser
has
overall
responsibility
for
management
of
the
Funds,
oversees
the
management
of
the
Funds'
portfolio,
manages
the
Funds'
business
affairs
and
provides
certain
clerical,
bookkeeping
and
other
administrative
services,
and,
if
necessary,
asset
allocation
decisions.
The
Adviser
has
entered
into  sub-
advisory
agreements
with
Nuveen
Asset
Management,
LLC,
(the
“Sub-Adviser”),
a
subsidiary
of
the
Adviser,
under
which
the
Sub-Adviser
manages
the
investment
portfolios
of
the
Funds.
Fund
Reorganization
and
Mergers:
Effective
prior
to
the
opening
of
business
on
June
6,
2022,
Nuveen
Enhanced
Municipal
Value
Fund
(NEV)
(the
“Target
Fund”)
was
reorganized
into
Nuveen
Municipal
Credit
Income
Fund
(“NZF”
or
the
“Acquiring
Fund”),
(the
“Reorganization”).
Upon
the
closing
of
the
Reorganization,
the
Target
Fund
transferred
its
assets
to
the
Acquiring
Fund
in
exchange
for
common
shares
of
the
Acquiring
Fund
and
the
assumption
by
the
Acquiring
Fund
of
the
liabilities
of
the
Target
Fund.
The
Target
Fund
was
then
dissolved
and
terminated
in
accordance
with
its
Declaration
of
Trust.
Shareholders
of
the
Target
Fund
became
shareholders
of
the
Acquiring
Fund.
Holders
of
common
shares
of
the
Target
Fund
received
newly
issued
common
shares
of
the
Acquiring
Fund,
the
aggregate
net
asset
value
(“NAV”)
of
which
was
equal
to
the
aggregate
NAV
of
the
common
shares
of
the
Target
Fund
held
immediately
prior
to
the
Reorganization
(including
for
this
purpose
fractional
Acquiring
Fund
shares
to
which
shareholders
were
entitled).
For
accounting
and
performance
reporting
purposes,
the
Acquiring
Fund
was
the
survivor
of
the
reorganization.
Effective
prior
to
the
opening
of
business
on
April
17,
2023,
Nuveen
Ohio
Quality
Municipal
Income
Fund
(NUO)
and
Nuveen
Georgia
Quality
Municipal
Income
Fund
(NKG)
(the
“Target
Funds”)
were
each
merged
into
NZF
(the
“Acquiring
Fund”)
(each
a
“Merger”).
With
respect
to
each
Merger
of
a
Target
Fund
with
and
into
the
Acquiring
Fund,
the
separate
legal
existence
of
the
Target
Fund
ceased
for
all
purposes
and
the
Acquiring
Fund
succeeded
to
all
the
assets
and
assumed
all
the
liabilities
of
the
Target
Fund.
Shares
of
the
Target
Fund
were
converted
into
newly
issued
shares
of
the
Acquiring
Fund.
Holders
of
common
shares
of
the
Target
Fund
received
newly
issued
common
shares
of
the
Acquiring
Fund,
the
aggregate
net
asset
value
(“NAV”)
of
which
was
equal
to
the
aggregate
NAV
of
the
common
shares
of
the
Target
Fund
held
immediately
prior
to
the
Merger
(including
for
this
purpose
fractional
Acquiring
Fund
shares
to
which
shareholders
were
entitled).
For
accounting
and
performance
reporting
purposes,
the
Acquiring
Fund
is
the
survivor.
Refer
to
Note
11
for
further
details
on
each
Merger.
Developments
Regarding
the
Funds’
Control
Share
By-Law:
On
October
5,
2020,
the
Funds
and
certain
other
closed-end
funds
in
the
Nuveen
fund
complex
amended
their
by-laws.
Among
other
things,
the
amended
by-laws
included
provisions
pursuant
to
which,
in
summary,
a
shareholder
who
obtains
beneficial
ownership
of
common
shares
in
a
Control
Share
Acquisition
(as
defined
in
the
by-laws)
shall
have
the
same
voting
rights
as
other
common
shareholders
only
to
the
extent
authorized
by
the
other
disinterested
shareholders
(the
“Control
Share
By-Law”).
On
January
14,
2021,
a
shareholder
of
certain
Nuveen
closed-end
funds
filed
a
civil
complaint
in
the
U.S.
District
Court
for
the
Southern
District
of
New
York
(the
“District
Court”)
against
certain
Nuveen
funds
and
their
trustees,
seeking
a
declaration
that
such
funds’
Control
Share
By-Laws
violate
the
1940
Act,
rescission
of
such
fund’s
Control
Share
By-Laws
and
a
permanent
injunction
against
such
funds
applying
the
Control
Share
By-Laws.
On
February
18,
2022,
the
District
Court
granted
judgment
in
favor
of
the
plaintiff’s
claim
for
rescission
of
such
funds’
Control
Share
By-Laws
and
the
plaintiff’s
declaratory
judgment
claim,
and
declared
that
such
funds’
Control
Share
By-Laws
violate
Section
18(i)
of
the
1940
Act.
Following
review
of
the
judgment
of
the
District
Court,
on
February
22,
2022,
the
Board
of
Trustees
(the
“Board”)
amended
the
Funds’
by-laws
to
provide
that
the
Funds’
Control
Share
By-Law
shall
be
of
no
force
and
effect
for
so
long
as
the
judgment
of
the
District
Court
is
effective
and
that
if
the
judgment
of
the
District
Court
is
reversed,
overturned,
vacated,
stayed,
or
otherwise
nullified,
the
Funds’
Control
Share
By-Law
will
be
automatically
reinstated
and
apply
to
any
beneficial
owner
of
common
shares
acquired
in
a
Control
Share
Acquisition,
regardless
of
whether
such
Control
Share
Acquisition
occurs
before
or
after
such
reinstatement,
for
the
duration
of
the
stay
or
upon
issuance
of
the
mandate
reversing,
overturning,
vacating
or
otherwise
nullifying
the
judgment
of
the
District
Court.
On
February
25,
2022,
the
Board
and
the
Funds
appealed
the
District
Court’s
decision
to
the
U.S.
Court
of
Appeals
for
the
Second
Circuit.
215
2.
Significant
Accounting
Policies
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(“U.S.
GAAP”),
which
may
require
the
use
of
estimates
made
by
management
and
the
evaluation
of
subsequent
events.
Actual
results
may
differ
from
those
estimates.
Each
Fund
is
an
investment
company
and
follows
accounting
guidance
in
the
Financial
Accounting
Standards
Board
(“FASB”)
Accounting
Standards
Codification
946,
Financial
Services
Investment
Companies.
The
NAV
for
financial
reporting
purposes
may
differ
from
the
NAV
for
processing
security
and shareholder
transactions.
The
NAV
for
financial
reporting
purposes
includes
security
and
common
share
transactions
through
the
date
of
the
report.
Total
return
is
computed
based
on
the
NAV
used
for
processing
security
and
common
share
transactions.
The
following
is
a
summary
of
the
significant
accounting
policies
consistently
followed
by
the
Funds.
Compensation:
The
Funds pay
no
compensation
directly
to
those
of
its
trustees
or
to
its
officers,
all
of
whom
receive
remuneration
for
their
services
to
the
Funds
from
the
Adviser
or
its
affiliates.
The Board has
adopted
a
deferred
compensation
plan
for
independent
trustees
that
enables
trustees
to
elect
to
defer
receipt
of
all
or
a
portion
of
the
annual
compensation
they
are
entitled
to
receive
from
certain
Nuveen-advised
funds.
Under
the
plan,
deferred
amounts
are
treated
as
though
equal
dollar
amounts
had
been
invested
in
shares
of
select
Nuveen-advised
funds.
Custodian
Fee
Credit:
As
an
alternative
to
overnight
investments,
each
Fund
has
an
arrangement
with
its
custodian
bank,
State
Street
Bank
and
Trust
Company,
(the
“Custodian”)
whereby
certain
custodian
fees
and
expenses
are
reduced
by
net
credits
earned
on
each
Fund’s
cash
on
deposit
with
the
bank.
Credits
for
cash
balances
may
be
offset
by
charges
for
any
days
on
which
a
Fund
overdraws
its
account
at
the
Custodian.
The
amount
of
custodian
fee
credit
earned
by
a
Fund
is
recognized
on
the
Statement
of
Operations
as
a
component
of
“Custodian
expenses,
net.”
During
the
current
reporting
period,
the
custodian
fee
credit
earned
by
each
Fund
was
as
follows:
Distributions
to
Common
Shareholders:
Distributions
to
common shareholders
are
recorded
on
the
ex-dividend
date.
The
amount,
character
and
timing
of
distributions
are
determined
in
accordance
with
federal
income
tax
regulations,
which
may
differ
from
U.S.
GAAP.
NDMO
makes
monthly
cash
distributions
to
common
shareholders
of
a
stated
dollar
amount
per
share.
Subject
to
approval
and
oversight
by
the
Board,
the
Fund
seeks
to
maintain
a
stable
distribution
level
designed
to
deliver
the
long-term
return
potential
of
the
Fund’s
investment
strategy
through
regular
monthly
distributions
(a
“Managed
Distribution
Program”).
Total
distributions
during
a
calendar
year
generally
will
be
made
from
the
Fund’s
net
investment
income,
net
realized
capital
gains
and
net
unrealized
capital
gains
in
the
Fund’s
portfolio,
if
any.
The
portion
of
distributions
paid
attributed
to
net
unrealized
gains,
if
any,
is
distributed
from
the
Fund’s
assets
and
is
treated
by
common
shareholders
as
a
nontaxable
distribution
(“return
of
capital”)
for
tax
purposes.
In
the
event
that
total
distributions
during
a
calendar
year
exceed
the
Fund’s
total
return
on
NAV,
the
difference
will
reduce
NAV
per
share.
If
the
Fund’s
total
return
on
NAV
exceeds
total
distributions
during
a
calendar
year,
the
excess
will
be
reflected
as
an
increase
in
NAV
per
share.
The
final
determination
of
the
source
and
character
of
all
distributions
paid
by
the
Fund
during
the
fiscal
year
is
made
after
the
end
of
the
fiscal
year
and
is
reflected
in
the
financial
statements
contained
in
the
annual
report
as
of
October
31
each
year.
Indemnifications:
Under
the
Funds'
organizational
documents, their
officers
and
trustees
are
indemnified
against
certain
liabilities
arising
out
of
the
performance
of
their
duties
to
the
Funds.
In
addition,
in
the
normal
course
of
business,
the Funds
enter
into
contracts
that
provide
general
indemnifications
to
other
parties.
The
Funds'
maximum
exposure
under
these
arrangements
is
unknown
as
this
would
involve
future
claims
that
may
be
made
against
the Funds
that
have
not
yet
occurred.
However,
the Funds
have
not
had
prior
claims
or
losses
pursuant
to
these
contracts
and
expects
the
risk
of
loss
to
be
remote.
Investments
and
Investment
Income:
Securities
transactions
are
accounted
for
as
of
the
trade
date
for
financial
reporting
purposes.
Realized
gains
and
losses
on
securities
transactions
are
based
upon
the
specific
identification
method.
Investment
income
is
comprised
of
interest
income,
which
is
recorded
on
an
accrual
basis
and
includes
accretion
of
discounts
and
amortization
of
premiums
for
financial
reporting
purposes.
Investment
income
also
reflects
payment-in-kind
(“PIK”)
interest
and
paydown
gains
and
losses,
if
any.
PIK
interest
represents
income
received
in
the
form
of
securities
in
lieu
of
cash.
Investment
income
also
reflects
dividend
income,
which
is
recorded
on
the
ex-dividend
date.
Netting
Agreements:
In
the
ordinary
course
of
business,
the
Funds
may
enter
into
transactions
subject
to
enforceable
International
Swaps
and
Derivatives
Association,
Inc.
(ISDA)
master
agreements
or
other
similar
arrangements
(“netting
agreements”).
Generally,
the
right
to
offset
in
netting
agreements
allows
each
Fund
to
offset
certain
securities
and
derivatives
with
a
specific
counterparty,
when
applicable,
as
well
as
any
collateral
received
or
delivered
to
that
counterparty
based
on
the
terms
of
the
agreements.
Generally,
each
Fund
manages
its
cash
collateral
and
securities
collateral
on
a
counterparty
basis.
With
respect
to
certain
counterparties,
in
accordance
with
the
terms
of
the
netting
agreements,
collateral
posted
to
the
Funds
is
held
in
a
segregated
account
by
the
Funds’
custodian
and/or
with
respect
to
those
amounts
which
can
be
sold
or
repledged,
are
presented
in
the
Funds’
Portfolio
of
Investments
or
Statements
of
Assets
and
Liabilities.
Fund
Gross
Custodian
Fee
Credits
NVG
$
33,545
NZF
4,847
NMZ
7,277
NMCO
5,199
NDMO
19,816
216
Notes
to
Financial
Statements
(Unaudited)
(continued)
The
Funds’
investments
subject
to
netting
agreements
as
of
the
end
of
the
reporting
period,
if
any,
are
further
described
in
Note
4
-
Portfolio
Securities
and
Investments
in
Derivatives.
New
Accounting
Pronouncement: 
In
March
2020,
FASB
issued
Accounting
Standards
Update
("ASU")
2020-04,
Reference
Rate
Reform:
Facilitation
of
the
Effects
of
Reference
Rate
Reform
on
Financial
Reporting.
The
main
objective
of
the
new
guidance
is
to
provide
relief
to
companies
that
will
be
impacted
by
the
expected
change
in
benchmark
interest
rates,
when
participating
banks
will
no
longer
be
required
to
submit
London
Interbank
Offered
Rate
(LIBOR)
quotes
by
the
UK
Financial
Conduct
Authority
(FCA).
The
new
guidance
allows
companies
to,
provided
the
only
change
to
existing
contracts
are
a
change
to
an
approved
benchmark
interest
rate,
account
for
modifications
as
a
continuance
of
the
existing
contract
without
additional
analysis.
For
new
and
existing
contracts,
the
Funds
may
elect
to
apply
the
amendments
as
of
March
12,
2020
through
December
31,
2022.
In
December
2022,
FASB
deferred
ASU
2022-04
and
issued
ASU
2022-06,
Reference
Rate
Reform:
Deferral
of
the
Sunset
Date
of
Topic
848,
which
extends
the
application
of
the
amendments
through
December
31,
2024.
Management
has
not
yet
elected
to
apply
the
amendments,
is
continuously
evaluating
the
potential
effect
a
discontinuation
of
LIBOR
could
have
on
the
Funds’
investments
and
has
currently
determined
that
it
is
unlikely
the
ASU’s
adoption
will
have
a
significant
impact
on
the
Funds’
financial
statements
and
various
filings.
New
Accounting
Pronouncement:
In
June
2022,
the
FASB
issued
ASU
2022-03
to
clarify
the
guidance
in
Topic
820,
Fair
Value
Measurement
("Topic
820").
The
amendments
in
ASU
2022-03
affect
all
entities
that
have
investments
in
equity
securities
measured
at
fair
value
that
are
subject
to
a
contractual
sale
restriction.
ASU
2022-03
(1)
clarifies
the
guidance
in
Topic
820,
when
measuring
the
fair
value
of
an
equity
security
subject
to
contractual
restrictions
that
prohibit
the
sale
of
equity
security,
(2)
amends
a
related
illustrative
example,
and
(3)
introduces
new
disclosure
requirements
for
equity
securities
subject
to
contractual
sale
restrictions
that
are
measured
at
fair
value
in
accordance
with
Topic
820.
For
public
business
entities,
the
amendments
in
ASU
2022-03
are
effective
for
fiscal
years
beginning
after
December
15,
2023,
and
interim
periods
within
those
fiscal
years.
For
all
other
entities,
the
amendments
are
effective
for
fiscal
years
beginning
after
December
15,
2024,
and
interim
periods
within
those
fiscal
years.
Early
adoption
is
permitted
for
both
interim
and
annual
financial
statements
that
have
not
yet
been
issued
or
made
available
for
issuance.
Management
is
currently
assessing
the
impact
of
these
provisions
on
the
Funds'
financial
statements.
3.
Investment
Valuation
and
Fair
Value
Measurements 
The
Funds’
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Adviser,
subject
to
oversight
of
the Board.
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.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
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
management’s
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,
credit
spreads,
etc.).
Level
3
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
A
description
of
the
valuation
techniques
applied
to
the
Funds’
major
classifications
of
assets
and
liabilities
measured
at
fair
value
follows:
Equity
securities
and
exchange-traded
funds
listed
or
traded
on
a
national
market
or
exchange
are
valued
based
on
their
last
reported sales
price
or
official
closing
price of such
market
or
exchange
on
the
valuation
date.
Foreign
equity
securities
and
registered
investment
companies
that
trade
on
a
foreign
exchange
are
valued
at
the
last
reported sales
price
or
official
closing
price
on
the
principal
exchange
where
traded,
and
converted
to
U.S.
dollars
at
the
prevailing
rates
of
exchange
on
the valuation
date.
For
events affecting
the value
of
foreign
securities
between
the
time
when
the
exchange
on
which
they
are
traded
closes
and
the
time
when
the
Funds'
net
assets
are
calculated,
such
securities
will
be
valued
at
fair
value
in
accordance
with
procedures
adopted
by
the
Adviser,
subject
to
the
oversight
of
the
Board. To
the
extent
these
securities
are
actively
traded
and
no
valuation
adjustments
are
applied,
they
are
generally
classified
as
Level
1. When
valuation
adjustments
are
applied
to
the
most
recent
last
sales
price
or
official
closing
price, these
securities
are
generally
classified
as
Level
2.
Prices
of
fixed-income
securities
are
generally
provided
by
pricing
services
approved
by
the
Adviser,
which
is
subject
to
review
by
the
Adviser
and
oversight
of
the
Board. Pricing
services
establish
a
security’s
fair
value
using
methods
that
may
include
consideration
of
the
following:
yields
or
prices
of
investments
of
comparable
quality,
type
of
issue,
coupon,
maturity
and
rating,
market
quotes
or
indications
of
value
from
security
dealers,
evaluations
of
anticipated
cash
flows
or
collateral,
general
market
conditions
and
other
information
and
analysis,
including
the
obligor’s
credit
characteristics
considered
relevant.
In
pricing
certain
securities,
particularly
less
liquid
and
lower
quality
securities,
pricing
services
may
consider
information
about
a
security,
its
issuer
or
market
activity
provided
by
the
Adviser.
These
securities
are
generally
classified
as
Level
2.
Investments
in
investment
companies
are
valued
at
their
respective
NAVs
or
share
price on
the
valuation
date
and
are
generally
classified
as
Level
1. 
For
any
portfolio
security
or
derivative
for
which
market
quotations
are
not
readily
available
or
for
which
the
Adviser
deems
the
valuations
derived
using
the
valuation
procedures
described
above
not
to
reflect
fair
value,
the
Adviser
will
determine
a
fair
value
in
good
faith
using
alternative
procedures
approved
by
the
Adviser,
subject
to
the
oversight
of
the
Board.
As
a
general
principle,
the
fair
value
of
a
security
is
the
amount
that
the
owner
might
reasonably
expect
to
receive
for
it
in
a
current
sale.
A
variety
of
factors
may
be
considered
in
determining
the
fair
value
of
such
securities,
which
may
include
consideration
of
the
following:
yields
or
prices
of
investments
of
comparable
quality,
type
of
issue,
coupon,
maturity
217
and
rating,
market
quotes
or
indications
of
value
from
security
dealers,
evaluations
of
anticipated
cash
flows
or
collateral,
general
market
conditions
and
other
information
and
analysis,
including
the
obligor’s
credit
characteristics
considered
relevant.
To
the
extent
the
inputs
are
observable
and
timely,
the
values
would
be
classified
as
Level
2;
otherwise
they
would
be
classified
as
Level
3.
The
following
table
summarizes
the
market
value
of
the
Funds’
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
The
Funds
hold
liabilities
in
floating
rate
obligations
and
preferred
shares,
where
applicable,
which
are
not
reflected
in
the
tables
above.
The
fair
values
of
the
Funds’
liabilities
for
floating
rate
obligations
approximate
their
liquidation
values.
Floating
rate
obligations
are
generally
classified
as
Level
2
and
further
described
in
Note
4
-
Portfolio
Securities
and
Investments
in
Derivatives.
The
fair
values
of
the
Funds’
liabilities
for
preferred
shares
approximate
their
liquidation
preference.
Preferred
shares
are
generally
classified
as
Level
2
and
further
described
in
Note
5
-
Fund
Shares.
4.
Portfolio
Securities
and
Investments
in
Derivatives
Portfolio
Securities
Inverse
Floating
Rate
Securities:
Each
Fund
is
authorized
to
invest
in
inverse
floating
rate
securities.
An
inverse
floating
rate
security
is
created
by
depositing
a
municipal
bond
(referred
to
as
an
“Underlying
Bond”),
typically
with
a
fixed
interest
rate,
into
a
special
purpose
tender
option
bond
(“TOB”)
trust
(referred
to
as
the
“TOB
Trust”)
created
by
or
at
the
direction
of
one
or
more
Funds.
In
turn,
the
TOB
Trust
issues
(a)
floating
NVG
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
$
4,686,376,503
$
96,089*
$
4,686,472,592
Common
Stocks
52,470,004
52,470,004
Corporate
Bonds
2,713,150
2,713,150
Short-Term
Investments:
Municipal
Bonds
20,000,000
20,000,000
Total
$
$
4,761,559,657
$
96,089
$
4,761,655,746
NZF
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
$
4,155,222,290
$
26,982*
$
4,155,249,272
Common
Stocks
117,347,934
117,347,934
Investment
Companies
1,180,551
1,180,551
Variable
Rate
Senior
Loan
Interests
73,149*
73,149
Total
$
1,180,551
$
4,272,570,224
$
100,131
$
4,273,850,906
NMZ
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
$
1,912,653,400
$
357,041*
$
1,913,010,441
Common
Stocks
3,103,291
58,251,101
61,354,392
Corporate
Bonds
357,097*
357,097
Variable
Rate
Senior
Loan
Interests
11,547*
11,547
Total
$
3,103,291
$
1,970,904,501
$
725,685
$
1,974,733,477
NMCO
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
$
1,038,698,537
$
134,106*
$
1,038,832,643
Common
Stocks
66,652,564
66,652,564
Corporate
Bonds
2,007,118
2,007,118
Total
$
$
1,107,358,219
$
134,106
$
1,107,492,325
NDMO
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
$
771,399,912
$
$
771,399,912
U.S.
Government
and
Agency
Obligations
99,267,574
99,267,574
Corporate
Bonds
2,950,179
495,589*
3,445,768
Total
$
$
873,617,665
$
495,589
$
874,113,254
*
Refer
to
the
Fund's
Portfolio
of
Investments
for
securities
classified
as
Level
3.
218
Notes
to
Financial
Statements
(Unaudited)
(continued)
rate
certificates
(referred
to
as
“Floaters”),
in
face
amounts
equal
to
some
fraction
of
the
Underlying
Bond’s
par
amount
or
market
value,
and
(b)
an
inverse
floating
rate
certificate
(referred
to
as
an
“Inverse
Floater”)
that
represents
all
remaining
or
residual
interest
in
the
TOB
Trust.
Floaters
typically
pay
short-term
tax-exempt
interest
rates
to
third
parties
who
are
also
provided
a
right
to
tender
their
certificate
and
receive
its
par
value,
which
may
be
paid
from
the
proceeds
of
a
remarketing
of
the
Floaters,
by
a
loan
to
the
TOB
Trust
from
a
third
party
liquidity
provider
(“Liquidity
Provider”),
or
by
the
sale
of
assets
from
the
TOB
Trust.
The
Inverse
Floater
is
issued
to
a
long
term
investor,
such
as
one
or
more
Funds.
The
income
received
by
the
Inverse
Floater
holder
varies
inversely
with
the
short-term
rate
paid
to
holders
of
the
Floaters,
and
in
most
circumstances
the
Inverse
Floater
holder
bears
substantially
all
of
the
Underlying
Bond’s
downside
investment
risk
and
also
benefits
disproportionately
from
any
potential
appreciation
of
the
Underlying
Bond’s
value.
The
value
of
an
Inverse
Floater
will
be
more
volatile
than
that
of
the
Underlying
Bond
because
the
interest
rate
is
dependent
on
not
only
the
fixed
coupon
rate
of
the
Underlying
Bond
but
also
on
the
short-term
interest
paid
on
the
Floaters,
and
because
the
Inverse
Floater
essentially
bears
the
risk
of
loss
(and
possible
gain)
of
the
greater
face
value
of
the
Underlying
Bond.
The
Inverse
Floater
held
by
a
Fund
gives
the
Fund
the
right
to
(a)
cause
the
holders
of
the
Floaters
to
tender
their
certificates
at
par
(or
slightly
more
than
par
in
certain
circumstances),
and
(b)
have
the
trustee
of
the
TOB
Trust
(the
“Trustee”)
transfer
the
Underlying
Bond
held
by
the
TOB
Trust
to
the
Fund,
thereby
collapsing
the
TOB
Trust.
The
Fund
may
acquire
an
Inverse
Floater
in
a
transaction
where
it
(a)
transfers
an
Underlying
Bond
that
it
owns
to
a
TOB
Trust
created
by
a
third
party
or
(b)
transfers
an
Underlying
Bond
that
it
owns,
or
that
it
has
purchased
in
a
secondary
market
transaction
for
the
purpose
of
creating
an
Inverse
Floater,
to
a
TOB
Trust
created
at
its
direction,
and
in
return
receives
the
Inverse
Floater
of
the
TOB
Trust
(referred
to
as
a
“self-deposited
Inverse
Floater”).
A
Fund
may
also
purchase
an
Inverse
Floater
in
a
secondary
market
transaction
from
a
third
party
creator
of
the
TOB
Trust
without
first
owning
the
Underlying
Bond
(referred
to
as
an
“externally-deposited
Inverse
Floater”).
An
investment
in
a
self-deposited
Inverse
Floater
is
accounted
for
as
a
“financing”
transaction
(i.e.,
a
secured
borrowing).
For
a
self-deposited
Inverse
Floater,
the
Underlying
Bond
deposited
into
the
TOB
Trust
is
identified
in
the
Fund’s
Portfolio
of
Investments
as
“(UB)
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction,”
with
the
Fund
recognizing
as
liabilities,
labeled
“Floating
rate
obligations”
on
the
Statement
of
Assets
and
Liabilities,
(a)
the
liquidation
value
of
Floaters
issued
by
the
TOB
Trust,
and
(b)
the
amount
of
any
borrowings
by
the
TOB
Trust
from
a
Liquidity
Provider
to
enable
the
TOB
Trust
to
purchase
outstanding
Floaters
in
lieu
of
a
remarketing.
In
addition,
the
Fund
recognizes
in
“Investment
Income”
the
entire
earnings
of
the
Underlying
Bond,
and
recognizes
(a)
the
interest
paid
to
the
holders
of
the
Floaters
or
on
the
TOB
Trust’s
borrowings,
and
(b)
other
expenses
related
to
remarketing,
administration,
trustee,
liquidity
and
other
services
to
a
TOB
Trust,
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Earnings
due
from
the
Underlying
Bond
and
interest
due
to
the
holders
of
the
Floaters
as
of
the
end
of
the
reporting
period
are
recognized
as
components
of
“Receivable
for
interest”
and
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities,
respectively.
In
contrast,
an
investment
in
an
externally-deposited
Inverse
Floater
is
accounted
for
as
a
purchase
of
the
Inverse
Floater
and
is
identified
in
the
Fund’s
Portfolio
of
Investments
as
“(IF)
Inverse
floating
rate
investment.”
For
an
externally-deposited
Inverse
Floater,
a
Fund’s
Statement
of
Assets
and
Liabilities
recognizes
the
Inverse
Floater
and
not
the
Underlying
Bond
as
an
asset,
and
the
Fund
does
not
recognize
the
Floaters,
or
any
related
borrowings
from
a
Liquidity
Provider,
as
a
liability.
Additionally,
the
Fund
reflects
in
“Investment
Income”
only
the
net
amount
of
earnings
on
the
Inverse
Floater
(net
of
the
interest
paid
to
the
holders
of
the
Floaters
or
the
Liquidity
Provider
as
lender,
and
the
expenses
of
the
Trust),
and
does
not
show
the
amount
of
that
interest
paid
or
the
expenses
of
the
TOB
Trust
as
described
above
as
interest
expense
on
the
Statement
of
Operations.
Fees
paid
upon
the
creation
of
a
TOB
Trust
for
self-deposited
Inverse
Floaters
and
externally-deposited
Inverse
Floaters
are
recognized
as
part
of
the
cost
basis
of
the
Inverse
Floater
and
are
capitalized
over
the
term
of
the
TOB
Trust.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
Floaters
issued
by
each
Fund’s
TOB
Trust
for
self-deposited
Inverse
Floaters
and
externally-deposited
Inverse
Floaters
was
as
follows:
During
the
current
fiscal
period,
the
average
amount
of
Floaters
(including
any
borrowings
from
a
Liquidity
Provider)
outstanding,
and
the
average
annual
interest
rates
and
fees
related
to
self-deposited
Inverse
Floaters,
were
as
follows:
Fund
Floating
Rate
Obligations:
Self-
Deposited
Inverse
Floaters
Floating
Rate
Obligations:
Externally-Deposited
Inverse
Floaters
Total
NVG
$
207,070,000
$
28,330,000
$
235,400,000
NZF
349,316,000
16,175,000
365,491,000
NMZ
428,766,000
17,610,000
446,376,000
NMCO
25,350,000
25,350,000
NDMO
650,000
650,000
219
TOB
Trusts
are
supported
by
a
liquidity
facility
provided
by
a
Liquidity
Provider
pursuant
to
which
the
Liquidity
Provider
agrees,
in
the
event
that
Floaters
are
(a)
tendered
to
the
Trustee
for
remarketing
and
the
remarketing
does
not
occur,
or
(b)
subject
to
mandatory
tender
pursuant
to
the
terms
of
the
TOB
Trust
agreement,
to
either
purchase
Floaters
or
to
provide
the
Trustee
with
an
advance
from
a
loan
facility
to
fund
the
purchase
of
Floaters
by
the
TOB
Trust.
In
certain
circumstances,
the
Liquidity
Provider
may
otherwise
elect
to
have
the
Trustee
sell
the
Underlying
Bond
to
retire
the
Floaters
that
were
tendered
and
not
remarketed
prior
to
providing
such
a
loan.
In
these
circumstances,
the
Liquidity
Provider
remains
obligated
to
provide
a
loan
to
the
extent
that
the
proceeds
of
the
sale
of
the
Underlying
Bond
are
not
sufficient
to
pay
the
purchase
price
of
the
Floaters.
The
size
of
the
commitment
under
the
loan
facility
for
a
given
TOB
Trust
is
at
least
equal
to
the
balance
of
that
TOB
Trust’s
outstanding
Floaters
plus
any
accrued
interest.
In
consideration
of
the
loan
facility,
fee
schedules
are
in
place
and
are
charged
by
the
Liquidity
Provider(s).
Any
loans
made
by
the
Liquidity
Provider
will
be
secured
by
the
purchased
Floaters
held
by
the
TOB
Trust.
Interest
paid
on
any
outstanding
loan
balances
will
be
effectively
borne
by
the
Fund
that
owns
the
Inverse
Floaters
of
the
TOB
Trust
that
has
incurred
the
borrowing
and
may
be
at
a
rate
that
is
greater
than
the
rate
that
would
have
been
paid
had
the
Floaters
been
successfully
remarketed.
As
described
above,
any
amounts
outstanding
under
a
liquidity
facility
are
recognized
as
a
component
of
“Floating
rate
obligations”
on
the
Statement
of
Assets
and
Liabilities
by
the
Fund
holding
the
corresponding
Inverse
Floaters
issued
by
the
borrowing
TOB
Trust.
As
of
the
end
of
the
reporting
period,
there
were
no
loans
outstanding
under
any
such
facility.
Each
Fund
may
also
enter
into
shortfall
and
forbearance
agreements
(sometimes
referred
to
as
a
“recourse
arrangement”)
(TOB
Trusts
involving
such
agreements
are
referred
to
herein
as
“Recourse
Trusts”),
under
which
a
Fund
agrees
to
reimburse
the
Liquidity
Provider
for
the
Trust’s
Floaters,
in
certain
circumstances,
for
the
amount
(if
any)
by
which
the
liquidation
value
of
the
Underlying
Bond
held
by
the
TOB
Trust
may
fall
short
of
the
sum
of
the
liquidation
value
of
the
Floaters
issued
by
the
TOB
Trust
plus
any
amounts
borrowed
by
the
TOB
Trust
from
the
Liquidity
Provider,
plus
any
shortfalls
in
interest
cash
flows
(sometimes
referred
to
as
“shortfall
payments”).
Under
these
agreements,
a
Fund’s
potential
exposure
to
losses
related
to
or
on
an
Inverse
Floater
may
increase
beyond
the
value
of
the
Inverse
Floater
as
a
Fund
may
potentially
be
liable
to
fulfill
all
amounts
owed
to
holders
of
the
Floaters
or
the
Liquidity
Provider.
Any
such
shortfall
amount
in
the
aggregate
is
recognized
as
“Unrealized
depreciation
on
Recourse
Trusts”
on
the
Statement
of
Assets
and
Liabilities.
As
of
the
end
of
the
current
fiscal
period,
the
Funds
maximum
exposure
to
the
Floaters
issued
by
Recourse
Trusts
for
self-deposited
Inverse
Floaters
and
externally-deposited
Inverse
Floaters
was
as
follows:
Zero
Coupon
Securities:
A
zero
coupon
security
does
not
pay
a
regular
interest
coupon
to
its
holders
during
the
life
of
the
security.
Income
to
the
holder
of
the
security
comes
from
accretion
of
the
difference
between
the
original
purchase
price
of
the
security
at
issuance
and
the
par
value
of
the
security
at
maturity
and
is
effectively
paid
at
maturity.
The
market
prices
of
zero
coupon
securities
generally
are
more
volatile
than
the
market
prices
of
securities
that
pay
interest
periodically.
Purchases
and
Sales:
Long-term
purchases
and
sales
during
the
current
fiscal
period
were
as
follows:
Fund
Average
Floating
Rate
Obligations
Outstanding
Average
Annual
Interest
Rate
And
Fees
NVG
$
196,833,425
3.55
%
NZF
202,973,203
3.50
NMZ
437,677,479
4.00
NMCO
20,665,068
4.70
NDMO
7,203,096
2.85
Fund
Maximum
Exposure
to
Recourse
Trusts:
Self-Deposited
Inverse
Floaters
Maximum
Exposure
to
Recourse
Trusts:
Externally-Deposited
Inverse
Floaters
Total
NVG
$
204,540,000
$
20,170,000
$
224,710,000
NZF
346,801,000
16,175,000
362,976,000
NMZ
428,766,000
17,610,000
446,376,000
NMCO
25,350,000
25,350,000
NDMO
650,000
650,000
220
Notes
to
Financial
Statements
(Unaudited)
(continued)
The
Funds
may
purchase
securities
on
a
when-issued
or
delayed-delivery
basis.
Securities
purchased
on
a
when-issued
or
delayed-delivery
basis
may
have
extended
settlement
periods;
interest
income
is
not
accrued
until
settlement
date.
Any
securities
so
purchased
are
subject
to
market
fluctuation
during
this
period.
The
Funds
have
earmarked
securities
in
their
portfolios
with
a
current
value
at
least
equal
to
the
amount
of
the
when-issued/
delayed
delivery
purchase
commitments.
If
a
Fund
has
outstanding
when-issued/delayed-delivery
purchases
commitments
as
of
the
end
of
the
reporting
period,
such
amounts
are
recognized
on
the
Statement
of
Assets
and
Liabilities.
Investments
in
Derivatives
In
addition
to
the
inverse
floating
rate
securities
in
which each
Fund
may
invest,
which
are
considered
portfolio
securities
for
financial
reporting
purposes, each
Fund
is
authorized
to
invest
in
certain
other
derivative
instruments
such
as
futures,
options
and
swap
contracts. 
Each
Fund
limits
its
investments
in
futures,
options
on
futures
and
swap
contracts
to
the
extent
necessary
for
the
Adviser
to
claim
the
exclusion
from
registration
by
the
Commodity Futures
Trading
Commission
as
a
commodity
pool
operator
with
respect
to
the
Fund. 
The
Funds
record
derivative
instruments
at
fair
value,
with
changes
in
fair
value
recognized
on
the
Statement
of
Operations,
where
applicable. 
Even
though
the
Funds'
investments
in
derivatives
may
represent
economic
hedges,
they
are
not
considered
to
be
hedge
transactions
for
financial
reporting
purposes.
Futures
Contracts:
Upon
execution
of
a
futures
contract,
a
Fund
is
obligated
to
deposit
cash
or
eligible
securities,
also
known
as
“initial
margin,”
into
an
account
at
its
clearing
broker
equal
to
a
specified
percentage
of
the
contract
amount.
Cash
held
by
the
broker
to
cover
initial
margin
requirements
on
open
futures
contracts,
if
any,
is
recognized
as
“Cash
collateral
at
brokers
for
investments
in
futures
contracts”
on
the
Statement
of
Assets
and
Liabilities.
Investments
in
futures
contracts
obligate
a
Fund
and
the
clearing
broker
to
settle
monies
on
a
daily
basis
representing
changes
in
the
prior
days
“mark-to-market”
of
the
open
contracts.
If
a
Fund
has
unrealized
appreciation
the
clearing
broker
would
credit
the
Fund’s
account
with
an
amount
equal
to
appreciation
and
conversely
if
a
Fund
has
unrealized
depreciation
the
clearing
broker
would
debit
the
Fund’s
account
with
an
amount
equal
to
depreciation.
These
daily
cash
settlements
are
also
known
as
“variation
margin.”
Variation
margin
is
recognized
as
a
receivable
and/or
payable
for
“Variation
margin
on
futures
contracts”
on
the
Statement
of
Assets
and
Liabilities.
During
the
period
the
futures
contract
is
open,
changes
in
the
value
of
the
contract
are
recognized
as
an
unrealized
gain
or
loss
by
“marking-to-
market”
on
a
daily
basis
to
reflect
the
changes
in
market
value
of
the
contract,
which
is
recognized
as
a
component
of
“Change
in
net
unrealized
appreciation
(depreciation)
of
futures
contracts”
on
the
Statement
of
Operations.
When
the
contract
is
closed
or
expired,
a
Fund
records
a
realized
gain
or
loss
equal
to
the
difference
between
the
value
of
the
contract
on
the
closing
date
and
value
of
the
contract
when
originally
entered
into,
which
is
recognized
as
a
component
of
“Net
realized
gain
(loss)
from
futures
contracts”
on
the
Statement
of
Operations.
Risks
of
investments
in
futures
contracts
include
the
possible
adverse
movement
in
the
price
of
the
securities
or
indices
underlying
the
contracts,
the
possibility
that
there
may
not
be
a
liquid
secondary
market
for
the
contracts
and/or
that
a
change
in
the
value
of
the
contract
may
not
correlate
with
a
change
in
the
value
of
the
underlying
securities
or
indices.
During
the
current
reporting
period,
NDMO
managed
the
duration
of
its
portfolio
by
shorting
interest
rate
futures
contracts.
The
average
notional
amount
of
futures
contracts
outstanding
during
the
current
fiscal
period
was
as
follows:
The
following
table
presents
the
amount
of
net
realized
gain
(loss)
and
change
in
net
unrealized
appreciation
(depreciation)
recognized
on
futures
contracts
on
the
Statement
of
Operations
during
the
current
fiscal
period,
and
the
primary
underlying
risk
exposure.
Market
and
Counterparty
Credit
Risk:
In
the
normal
course
of
business
each
Fund
may
invest
in
financial
instruments
and
enter
into
financial
transactions
where
risk
of
potential
loss
exists
due
to
changes
in
the
market
(market
risk)
or
failure
of
the
other
party
to
the
transaction
to
perform
(counterparty
credit
risk).
The
potential
loss
could
exceed
the
value
of
the
financial
assets
recorded
on
the
financial
statements.
Financial
assets,
Fund
Purchases
Sales
and
Maturities
NVG
$
303,906,027
$
428,893,265
NZF
510,084,537
350,637,957
NMZ
305,836,368
329,948,365
NMCO
121,793,871
142,320,049
NDMO
330,726,606
304,977,328
Fund
Average
Notional
Amount
of
Futures
Contracts
Outstanding
*
NDMO
$
16,604,934
*
The
average
notional
amount
is
calculated
based
on
the
absolute
aggregate
notional
amount
of
contracts
outstanding
at
the
beginning
of
the
current
fiscal
period
and
at
the
end
of
each
fiscal
quarter
within
the
current
fiscal
period.
Fund
Underlying
Risk
Exposure
Derivative
Instrument
Net
Realized
Gain
(Loss)
from
Futures
Contracts
Change
in
Net
Unrealized
Appreciation
(Depreciation)
of
Futures
Contracts
NDMO
Interest
rate
Future
contracts
$831,869
$(2,140,765)
221
which
potentially
expose
each
Fund
to
counterparty
credit
risk,
consist
principally
of
cash
due
from
counterparties
on
forward,
option
and
swap
transactions,
when
applicable.
The
extent
of
each
Fund’s
exposure
to
counterparty
credit
risk
in
respect
to
these
financial
assets
approximates
their
carrying
value
as
recorded
on
the
Statement
of
Assets
and
Liabilities.
Each
Fund
helps
manage
counterparty
credit
risk
by
entering
into
agreements
only
with
counterparties
the
Adviser
believes
have
the
financial
resources
to
honor
their
obligations
and
by
having
the
Adviser
monitor
the
financial
stability
of
the
counterparties.
Additionally,
counterparties
may
be
required
to
pledge
collateral
daily
(based
on
the
daily
valuation
of
the
financial
asset)
on
behalf
of
each
Fund
with
a
value
approximately
equal
to
the
amount
of
any
unrealized
gain
above
a
pre-determined
threshold.
Reciprocally,
when
each
Fund
has
an
unrealized
loss,
the
Funds
have
instructed
the
custodian
to
pledge
assets
of
the
Funds
as
collateral
with
a
value
approximately
equal
to
the
amount
of
the
unrealized
loss
above
a
pre-determined
threshold.
Collateral
pledges
are
monitored
and
subsequently
adjusted
if
and
when
the
valuations
fluctuate,
either
up
or
down,
by
at
least
the
pre-determined
threshold
amount.
5.
Fund
Shares
Common
Shares
Equity
Shelf
Programs
and
Offering
Costs:
The
following
Funds
have
filed
a
registration
statement
with
the
SEC
authorizing each
Fund
to
issue
additional
common
shares
through
one
or
more
equity
shelf
programs
(“Shelf
Offering”),
which
became
effective
with
the
SEC
during
prior
fiscal
periods.
Under
this
Shelf
Offering,
the
Funds,
subject
to
market
conditions,
may
raise
additional
equity
capital
by
issuing
additional
common
shares
from
time
to
time
in
varying
amounts
and
by
different
offering
methods
at
a
net
price
at
or
above each
Fund’s
NAV
per
common
share.
In
the
event
the
Fund’s
Shelf
Offering
registration
statement
is
no
longer
current,
the
Fund
may
not
issue
additional
common
shares
until
a
post-effective
amendment
to
the
registration
statement
has
been
filed
with
the
SEC.
Maximum
aggregate
offering,
common
shares
sold
and
offering
proceeds,
net
of
offering
costs
under
each
Fund’s
Shelf
Offering
during
the
Funds’
current
and
prior
fiscal
period
were
as
follows:
Costs
incurred
by
the
Funds
in
connection
with their
initial
shelf
registrations
are
recorded
as
a
prepaid
expense
and
recognized
as
“Deferred
offering
costs”
on
the
Statement
of
Assets
and
Liabilities.
These
costs
are
amortized
pro
rata
as
common
shares
are
sold
and
are
recognized
as
a
component
of
“Proceeds
from
shelf
offering,
net
of
offering
costs”
on
the
Statement
of
Changes
in
Net
Assets.
Any
deferred
offering
costs
remaining
after
the
effectiveness
of
the
initial
shelf
registration
will
be
expensed.
Costs
incurred
by
the
Fund
to
keep
the
shelf
registration
current
are
expensed
as
incurred
and
recognized
as
a
component
of
“Other
expenses”
on
the
Statement
of
Operations.
Common Share
Transactions:
Transactions
in common
shares
for
the
Funds
during
the
Funds’
current
and
prior
fiscal
period,
where
applicable,
were
as
follows:
NVG
NMZ
Year
Ended
4/30/23
Year
Ended
10/31/22*
Year
Ended
4/30/23
Year
Ended
10/31/22
Maximum
aggregate
offering
Unlimited
Unlimited
Unlimited
Unlimited
Common
shares
sold
904,034
12,811,555
Offering
proceeds,
net
of
offering
costs
$–
$–
$9,590,166
$162,568,435
NMCO
NDMO
Year
Ended
4/30/23
Year
Ended
10/31/22
Year
Ended
4/30/23
Year
Ended
10/31/22
Maximum
aggregate
offering
$90,000,000
$90,000,000
$250,000,000
$250,000,000
Common
shares
sold
30,416
1,467,274
827,780
Offering
proceeds,
net
of
offering
costs
$357,037
$19,150,641
$–
$12,647,921
*
For
the
period
November
21,
2021
through
October
31,
2022.
NVG
NZF
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Common
Shares:
Issued
in
the
Reorganization/Merger
28,358,649
23,223,782
Issued
to
shareholders
due
to
reinvestment
of
distributions
97,083
Total
97,083
28,358,649
23,223,782
222
Notes
to
Financial
Statements
(Unaudited)
(continued)
Adjustable
Rate
MuniFund
Term
Preferred
Shares:
NMZ
has
issued
and
has
outstanding
Adjustable
Rate
MuniFund
Term
Preferred
(“AMTP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
AMTP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NMZ
had
$356,487,158
AMTP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs.
Further
details
of
the
Fund’s
AMTP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows:
The
Fund
is
obligated
to
redeem
its
AMTP
Shares
by
the
date
as
specified
in
its
offering
document
(“Term
Redemption
Date”),
unless
earlier
redeemed
by
the
Fund.
AMTP
Shares
are
subject
to
optional
and
mandatory
redemption
in
certain
circumstances.
The
AMTP
Shares
may
be
redeemed
at
the
option
of
the
Fund,
subject
to
payment
of
premium
for
approximately
six
months
following
the
date
of
issuance
(“Premium
Expiration
Date”),
and
at
the
redemption
price
per
share
thereafter.
The
redemption
price
per
share
is
equal
to
the
sum
of
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
AMTP
Shares
are
short-term
or
short/intermediate-term
instruments
that
pay
a
variable
dividend
rate
tied
to
a
short-term
index,
plus
an
additional
fixed
“spread”
amount
which
is
initially
established
at
the
time
of
issuance
and
may
be
adjusted
in
the
future
based
upon
a
mutual
agreement
between
the
majority
owner
and
the
Fund.
From
time-to-time
the
majority
owner
may
propose
to
the
Fund
an
adjustment
to
the
dividend
rate.
Should
the
majority
owner
and
the
Fund
fail
to
agree
upon
an
adjusted
dividend
rate,
and
such
proposed
dividend
rate
adjustment
is
not
withdrawn,
the
Fund
will
be
required
to
redeem
all
outstanding
shares
upon
the
end
of
a
notice
period.
In
addition,
the
Fund
may
be
obligated
to
redeem
a
certain
amount
of
the
AMTP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
and
leverage
ratio
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
Term
Redemption
Date
and
Premium
Expiration
Date
for
the
Fund’s
AMTP
Shares
are
as
follows:
The
average
liquidation
preference
of
AMTP
Shares
outstanding
and
annualized
dividend
rate
for
the
Fund
during
the
current
fiscal
period
were
as
follows:
NMZ
NMCO
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Common
Shares:
Sold
through
shelf
offering
904,034
12,811,555
30,416
1,467,274
Issued
to
shareholders
due
to
reinvestment
of
distributions
10,000
113,611
18,120
Total
914,034
12,925,166
30,416
1,485,394
Weighted
average
common
share:
Premium
to
NAV
per
shelf
offering
common
share
sold
1.23%
1.52%
1.12%
1.24%
NDMO
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Common
Shares:
Sold
through
shelf
offering
827,780
Issued
to
shareholders
due
to
reinvestment
of
distributions
69,875
72,033
Total
69,875
899,813
Weighted
average
common
share:
Premium
to
NAV
per
shelf
offering
common
share
sold
–%
1.28%
Fund
Series
Shares
Outstanding
Liquidation
Preference
NMZ
2028
870
$87,000,000
2031
1,700
$170,000,000
2032
1,000
$100,000,000
Fund
Notice
Period
Series
Term
Redemption
Date
Premium
Expiration
Date
NMZ
360-day
2028
March
1,
2028*
August
31,
2018
360-day
2031
April
1,
2031*
April
17,
2023
360-day
2032
June
1,
2032*
June
8,
2023
*
Subject
to
early
termination
by
either
the
Fund
or
the
holder.
223
Adjustable
Rate
MuniFund
Term
Preferred
Shares:
NMZ
has
issued
and
has
outstanding
Adjustable
Rate
MuniFund
Term
Preferred
(“AMTP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
AMTP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NMZ
had
$356,487,158
AMTP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs.
Further
details
of
the
Fund’s
AMTP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows:
The
Fund
is
obligated
to
redeem
its
AMTP
Shares
by
the
date
as
specified
in
its
offering
document
(“Term
Redemption
Date”),
unless
earlier
redeemed
by
the
Fund.
AMTP
Shares
are
subject
to
optional
and
mandatory
redemption
in
certain
circumstances.
The
AMTP
Shares
may
be
redeemed
at
the
option
of
the
Fund,
subject
to
payment
of
premium
for
approximately
six
months
following
the
date
of
issuance
(“Premium
Expiration
Date”),
and
at
the
redemption
price
per
share
thereafter.
The
redemption
price
per
share
is
equal
to
the
sum
of
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
AMTP
Shares
are
short-term
or
short/intermediate-term
instruments
that
pay
a
variable
dividend
rate
tied
to
a
short-term
index,
plus
an
additional
fixed
“spread”
amount
which
is
initially
established
at
the
time
of
issuance
and
may
be
adjusted
in
the
future
based
upon
a
mutual
agreement
between
the
majority
owner
and
the
Fund.
From
time-to-time
the
majority
owner
may
propose
to
the
Fund
an
adjustment
to
the
dividend
rate.
Should
the
majority
owner
and
the
Fund
fail
to
agree
upon
an
adjusted
dividend
rate,
and
such
proposed
dividend
rate
adjustment
is
not
withdrawn,
the
Fund
will
be
required
to
redeem
all
outstanding
shares
upon
the
end
of
a
notice
period.
In
addition,
the
Fund
may
be
obligated
to
redeem
a
certain
amount
of
the
AMTP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
and
leverage
ratio
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
Term
Redemption
Date
and
Premium
Expiration
Date
for
the
Fund’s
AMTP
Shares
are
as
follows:
The
average
liquidation
preference
of
AMTP
Shares
outstanding
and
annualized
dividend
rate
for
the
Fund
during
the
current
fiscal
period
were
as
follows:
NMZ
NMCO
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Common
Shares:
Sold
through
shelf
offering
904,034
12,811,555
30,416
1,467,274
Issued
to
shareholders
due
to
reinvestment
of
distributions
10,000
113,611
18,120
Total
914,034
12,925,166
30,416
1,485,394
Weighted
average
common
share:
Premium
to
NAV
per
shelf
offering
common
share
sold
1.23%
1.52%
1.12%
1.24%
NDMO
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Common
Shares:
Sold
through
shelf
offering
827,780
Issued
to
shareholders
due
to
reinvestment
of
distributions
69,875
72,033
Total
69,875
899,813
Weighted
average
common
share:
Premium
to
NAV
per
shelf
offering
common
share
sold
–%
1.28%
Fund
Series
Shares
Outstanding
Liquidation
Preference
NMZ
2028
870
$87,000,000
2031
1,700
$170,000,000
2032
1,000
$100,000,000
Fund
Notice
Period
Series
Term
Redemption
Date
Premium
Expiration
Date
NMZ
360-day
2028
March
1,
2028*
August
31,
2018
360-day
2031
April
1,
2031*
April
17,
2023
360-day
2032
June
1,
2032*
June
8,
2023
*
Subject
to
early
termination
by
either
the
Fund
or
the
holder.
AMTP
Shares
are
subject
to
restrictions
on
transfer,
generally
do
not
trade,
and
market
quotations
are
generally
not
available.
The
fair
value
of
AMTP
Shares
is
expected
to
be
approximately
their
liquidation
preference
so
long
as
the
fixed
“spread”
on
the
AMTP
Shares
remains
roughly
in
line
with
the
“spread”
being
demanded
by
investors
on
instruments
having
similar
terms
in
the
current
market
environment.
In
present
market
conditions,
the
Fund's
Adviser
has
determined
that
the
fair
value
of
AMTP
Shares
is
approximately
their
liquidation
preference,
but
their
fair
value
could
vary
if
market
conditions
change
materially.
For
financial
reporting
purposes,
the
liquidation
preference
of
AMTP
Shares
is
a
liability
and
is
recognized
as
a
component
of
“AMTP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities.
AMTP
Share
dividends
are
treated
as
interest
payments
for
financial
reporting
purposes.
Unpaid
dividends
on
AMTP
Shares
are
recognized
as
a
component
of
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
accrued
on
AMTP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Costs
incurred
in
connection
with
the
Fund’s
offering
of
AMTP
Shares
were
recorded
as
deferred
charges,
which
are
amortized
over
the
life
of
the
shares
and
are
recognized
as
components
of
“AMTP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
MuniFund
Preferred
Shares:
NVG,
NZF,
NMCO
and
NDMO
have
issued
and
have
outstanding
MuniFund
Preferred
(“MFP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
These
MFP
Shares
were
issued
via
private
placement
and
are
not
publicly
available.
The
Funds
are
obligated
to
redeem
their
MFP
Shares
by
the
date
as
specified
in
its
offering
documents
(“Term
Redemption
Date”),
unless
earlier
redeemed
by
the
Funds.
MFP
Shares
are
initially
issued
in
a
pre-specified
mode,
however,
MFP
Shares
can
be
subsequently
designated
as
an
alternative
mode
at
a
later
date
at
the
discretion
of
the
Funds.
The
modes
within
MFP
Shares
detail
the
dividend
mechanics
and
are
described
as
follows.
At
a
subsequent
date,
the
Funds
may
establish
additional
mode
structures
with
the
MFP
Share.
Variable
Rate
Remarketed
Mode
(“VRRM”)
Dividends
for
MFP
Shares
within
this
mode
will
be
established
by
a
remarketing
agent;
therefore,
market
value
of
the
MFP
Shares
is
expected
to
approximate
its
liquidation
preference.
Shareholders
have
the
ability
to
request
a
best-efforts
tender
of
its
shares
upon
seven
days
notice.
If
the
remarketing
agent
is
unable
to
identify
an
alternative
purchaser,
the
shares
will
be
retained
by
the
shareholder
requesting
tender
and
the
subsequent
dividend
rate
will
increase
to
its
step-up
dividend
rate.
If
after
one
consecutive
year
of
unsuccessful
remarketing
attempts,
the
Fund
will
be
required
to
designate
an
alternative
mode
or
redeem
the
shares.
Each
Fund
will
pay
a
remarketing
fee
on
the
aggregate
principal
amount
of
all
MFP
Shares
while
designated
in
VRRM.
Payments
made
by
the
Fund
to
the
remarketing
agent
are
recognized
as
“Remarketing
fees”
on
the
Statement
of
Operations.
Variable
Rate
Mode
(“VRM”)
Dividends
for
MFP
Shares
designated
in
this
mode
are
based
upon
a
short-term
index
plus
an
additional
fixed
“spread”
amount
established
at
the
time
of
issuance
or
renewal
/
conversion
of
its
mode.
At
the
end
of
the
period
of
the
mode,
the
Fund
will
be
required
to
either
extend
the
term
of
the
mode,
designate
an
alternative
mode
or
redeem
the
MFP
Shares.
The
fair
value
of
MFP
Shares
while
in
VRM
are
expected
to
approximate
their
liquidation
preference
so
long
as
the
fixed
“spread”
on
the
shares
remains
roughly
in
line
with
the
“spread”
being
demanded
by
investors
on
instruments
having
similar
terms
in
the
current
market.
In
current
market
conditions,
the
Adviser
has
determined
that
the
fair
value
of
the
shares
are
approximately
their
liquidation
preference,
but
their
fair
value
could
vary
if
market
conditions
change
materially.
Variable
Rate
Demand
Mode
(“VRDM”)
Dividends
for
MFP
Shares
designated
in
this
mode
will
be
established
by
a
remarketing
agent;
therefore,
the
market
value
of
the
MFP
Shares
is
expected
to
approximate
its
liquidation
preference.
While
in
this
mode,
shares
will
have
an
unconditional
liquidity
feature
that
enable
its
shareholders
to
require
a
liquidity
provider,
which
the
Fund
has
entered
into
a
contractual
agreement,
to
purchase
shares
in
the
event
that
the
shares
are
not
able
to
be
successfully
remarketed.
In
the
event
that
shares
within
this
mode
are
unable
to
be
successfully
remarketed
and
are
purchased
by
the
liquidity
provider,
the
dividend
rate
will
be
the
maximum
rate
which
is
designed
to
escalate
according
to
a
specified
schedule
in
order
to
enhance
the
remarketing
agent’s
ability
to
successfully
remarket
the
shares.
Each
Fund
is
required
redeem
any
shares
that
are
still
owned
by
a
liquidity
provider
after
six
months
of
continuous,
unsuccessful
remarketing.
The
Fund
will
pay
a
liquidity
and
remarketing
fee
on
the
aggregate
principal
amount
of
all
MFP
shares
while
within
VRDM.
Payments
made
by
the
Fund
to
the
liquidity
provider
and
remarketing
agent
are
recognized
as
“Liquidity
fees”
and
“Remarketing
fees”,
respectively,
on
the
Statement
Operations.
For
financial
reporting
purposes,
the
liquidation
preference
of
MFP
Shares
is
recorded
as
a
liability
and
is
recognized
as
a
component
of
“MFP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
on
the
MFP
shares
are
treated
as
interest
payments
for
financial
reporting
purposes.
Unpaid
dividends
on
MFP
shares
are
recognized
as
a
component
on
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
accrued
on
MFP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Fund
Average
Liquidation
Preference
of
AMTP
Shares
Outstanding
Annualized
Dividend
Rate
NMZ
$
357,000,000
3.79
%
224
Notes
to
Financial
Statements
(Unaudited)
(continued)
Subject
to
certain
conditions,
MFP
Shares
may
be
redeemed,
in
whole
or
in
part,
at
any
time
at
the
option
of
the
Fund.
The
Fund
may
also
be
required
to
redeem
certain
MFP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
redemption
price
per
share
in
all
circumstances
is
equal
to
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
Costs
incurred
in
connection
with
each
Fund’s
offering
of
MFP
Shares
were
recorded
as
deferred
charges,
which
are
amortized
over
the
life
of
the
shares
and
are
recognized
as
components
of
“MFP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
As
of
the
end
of
the
reporting
period,
NVG,
NZF,
NMCO
and
NDMO
had
$515,805,687,
$640,101,331,
$449,072,865
and
$239,589,845
of
MFP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
each
Fund’s
MFP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows:
The
average
liquidation
preference
of
MFP
Shares
outstanding
and
annualized
dividend
rate
for
the
Funds
during
the
current
fiscal
period
were
as
follows:
Variable
Rate
Demand
Preferred
Shares:
The
following
Funds
have
issued
and
have
outstanding
Variable
Rate
Demand
Preferred
(“VRDP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
VRDP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NVG
and
NZF
had
$1,233,840,625
and
$673,444,496
VRDP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
the
Funds’
VRDP
Shares
outstanding
as
of
the
reporting
period,
were
as
follows:
Fund
Series
Shares
Outstanding
Liquidation
Preference
Term
Redemption
Date
Mode
Mode
Termination
Date
NVG
A
674
$67,400,000
January
3,
2028
VRM
January
3,
2028*
B
200,000
$200,000,000
March
1,
2029
VRRM
March
1,
2029
C
250,000
$250,000,000
December
1,
2031
VRRM
December
1,
2031
NZF
A
1,500
$150,000,000
May
1,
2047
VRM
May
1,
2024
B
1,550
$155,000,000
February
3,
2048
VRM
February
3,
2048*
C
3,360
$336,000,000
June
1,
2048
VRM
September
1,
2023
NMCO
A
1,000
$100,000,000
October
1,
2031
VRDM
N/A
B
2,250
$225,000,000
October
1,
2031
VRM
December
1,
2024
C
1,250
$125,000,000
October
1,
2031
VRM
May
16,
2024
NDMO
A
2,400
$240,000,000
September
1,
2032
VRM
September
1,
2032
*
Subject
to
earlier
termination
by
either
the
Fund
or
the
holder.
Fund
Average
Liquidation
Preference
of
MFP
Shares
Outstanding
Annualized
Dividend
Rate
NVG
$
521,974,586
3.38
%
NZF
641,000,000
3.78
NMCO
450,000,000
3.64
NDMO
240,000,000
3.73
Fund
Series
Shares
Outstanding
Remarketing
Fees*
Liquidation
Preference
Maturity
NVG
1
1,790
0.10%
$179,000,000
December
1,
2043
2
2,954
0.10%
$295,400,000
December
1,
2040
4
1,800
0.10%
$180,000,000
June
1,
2046
5
2,955
0.10%
$295,500,000
December
1,
2040
6
2,867
0.10%
$286,700,000
December
1,
2040
NZF
1
2,688
N/A**
$268,800,000
March
1,
2040
2
2,622
N/A**
$262,200,000
March
1,
2040
3
1,460
0.05%
$146,000,000
June
1,
2040
*
Remarketing
fees
as
a
percentage
of
the
aggregate
principal
amount
of
all
VRDP
Shares
outstanding
for
each
series.
**
Not
applicable.
Series
is
considered
to
be
Special
Rate
VRDP
and
therefore
does
not
pay
a
remarketing
fee.
225
Subject
to
certain
conditions,
MFP
Shares
may
be
redeemed,
in
whole
or
in
part,
at
any
time
at
the
option
of
the
Fund.
The
Fund
may
also
be
required
to
redeem
certain
MFP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
redemption
price
per
share
in
all
circumstances
is
equal
to
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
Costs
incurred
in
connection
with
each
Fund’s
offering
of
MFP
Shares
were
recorded
as
deferred
charges,
which
are
amortized
over
the
life
of
the
shares
and
are
recognized
as
components
of
“MFP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
As
of
the
end
of
the
reporting
period,
NVG,
NZF,
NMCO
and
NDMO
had
$515,805,687,
$640,101,331,
$449,072,865
and
$239,589,845
of
MFP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
each
Fund’s
MFP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows:
The
average
liquidation
preference
of
MFP
Shares
outstanding
and
annualized
dividend
rate
for
the
Funds
during
the
current
fiscal
period
were
as
follows:
Variable
Rate
Demand
Preferred
Shares:
The
following
Funds
have
issued
and
have
outstanding
Variable
Rate
Demand
Preferred
(“VRDP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
VRDP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NVG
and
NZF
had
$1,233,840,625
and
$673,444,496
VRDP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
the
Funds’
VRDP
Shares
outstanding
as
of
the
reporting
period,
were
as
follows:
Fund
Series
Shares
Outstanding
Liquidation
Preference
Term
Redemption
Date
Mode
Mode
Termination
Date
NVG
A
674
$67,400,000
January
3,
2028
VRM
January
3,
2028*
B
200,000
$200,000,000
March
1,
2029
VRRM
March
1,
2029
C
250,000
$250,000,000
December
1,
2031
VRRM
December
1,
2031
NZF
A
1,500
$150,000,000
May
1,
2047
VRM
May
1,
2024
B
1,550
$155,000,000
February
3,
2048
VRM
February
3,
2048*
C
3,360
$336,000,000
June
1,
2048
VRM
September
1,
2023
NMCO
A
1,000
$100,000,000
October
1,
2031
VRDM
N/A
B
2,250
$225,000,000
October
1,
2031
VRM
December
1,
2024
C
1,250
$125,000,000
October
1,
2031
VRM
May
16,
2024
NDMO
A
2,400
$240,000,000
September
1,
2032
VRM
September
1,
2032
*
Subject
to
earlier
termination
by
either
the
Fund
or
the
holder.
Fund
Average
Liquidation
Preference
of
MFP
Shares
Outstanding
Annualized
Dividend
Rate
NVG
$
521,974,586
3.38
%
NZF
641,000,000
3.78
NMCO
450,000,000
3.64
NDMO
240,000,000
3.73
Fund
Series
Shares
Outstanding
Remarketing
Fees*
Liquidation
Preference
Maturity
NVG
1
1,790
0.10%
$179,000,000
December
1,
2043
2
2,954
0.10%
$295,400,000
December
1,
2040
4
1,800
0.10%
$180,000,000
June
1,
2046
5
2,955
0.10%
$295,500,000
December
1,
2040
6
2,867
0.10%
$286,700,000
December
1,
2040
NZF
1
2,688
N/A**
$268,800,000
March
1,
2040
2
2,622
N/A**
$262,200,000
March
1,
2040
3
1,460
0.05%
$146,000,000
June
1,
2040
*
Remarketing
fees
as
a
percentage
of
the
aggregate
principal
amount
of
all
VRDP
Shares
outstanding
for
each
series.
**
Not
applicable.
Series
is
considered
to
be
Special
Rate
VRDP
and
therefore
does
not
pay
a
remarketing
fee.
VRDP
Shares
include
a
liquidity
feature
that
allows
VRDP
shareholders
to
have
their
shares
purchased
by
a
liquidity
provider
with
whom
each
Fund
has
contracted
in
the
event
that
VRDP
Shares
are
not
able
to
be
successfully
remarketed.
Each
Fund
is
required
to
redeem
any
VRDP
Shares
that
are
still
owned
by
the
liquidity
provider
after
six
months
of
continuous,
unsuccessful
remarketing.
Each
Fund
pays
an
annual
remarketing
fee
on
the
aggregate
principal
amount
of
all
VRDP
Shares
outstanding.
Each
Fund’s
VRDP
Shares
have
successfully
remarketed
since
issuance.
NZF’s
Series
1
and
Series
2
VRDP
Shares
are
considered
to
be
Special
Rate
VRDP,
which
are
sold
to
institutional
investors.
The
special
rate
period
will
expire
on
March
1,
2040
for
the
Fund’s
Series
1
and
2
VRDP
Shares,
but
is
subject
to
earlier
termination
by
either
the
Fund
or
the
holder.
During
the
special
rate
period,
the
VRDP
Shares
will
not
be
remarketed
by
a
remarketing
agent,
be
subject
to
optional
or
mandatory
tender
events,
or
be
supported
by
a
liquidity
provider
and
are
not
subject
to
remarketing
fees
or
liquidity
fees.
During
the
special
rate
period,
VRDP
dividends
will
be
set
monthly
as
a
floating
rate
based
on
the
predetermined
formula.
Following
the
initial
special
rate
period,
Special
Rate
Period
VRDP
Shares
may
transition
to
traditional
VRDP
Shares
with
dividends
set
at
weekly
remarketings,
and
be
supported
by
designated
liquidity
provider,
or
the
Board
may
approve
a
subsequent
special
rate
period.
Dividends
on
the
VRDP
Shares
(which
are
treated
as
interest
payments
for
financial
reporting
purposes)
are
set
at
a
rate
established
by
a
remarketing
agent;
therefore,
the
market
value
of
the
VRDP
Shares
is
expected
to
approximate
its
liquidation
preference.
In
the
event
that
VRDP
shares
are
unable
to
be
successfully
remarketed,
the
dividend
rate
will
be
the
maximum
rate
which
is
designed
to
escalate
according
to
a
specified
schedule
in
order
to
enhance
the
remarketing
agent’s
ability
to
successfully
remarket
the
VRDP
Shares.
Subject
to
certain
conditions,
VRDP
Shares
may
be
redeemed,
in
whole
or
in
part,
at
any
time
at
the
option
of
each
Fund.
Each
Fund
may
also
redeem
certain
of
the
VRDP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
redemption
price
per
share
is
equal
to
the
sum
of
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
The
average
liquidation
preference
of
VRDP
Shares
outstanding
and
annualized
dividend
rate
for
each
Fund
during
the
current
fiscal
period
were
as
follows:
For
financial
reporting
purposes,
the
liquidation
preference
of
VRDP
Shares
is
a
liability
and
is
recognized
as
a
component
of
“VRDP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities.
Unpaid
dividends
on
VRDP
Shares
are
recognized
as
a
component
of
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities,
when
applicable.
Dividends
accrued
on
VRDP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Costs
incurred
by
the
Funds
in
connection
with
their
offerings
of
VRDP
Shares
were
recorded
as
a
deferred
charge,
which
are
being
amortized
over
the
life
of
the
shares
and
are
recognized
as
a
component
of
“VRDP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offerings
costs”
on
the
Statement
of
Operations.
In
addition
to
interest
expense,
each
Fund
also
pays
a
per
annum
liquidity
fee
to
the
liquidity
provider,
as
well
as
a
remarketing
fee,
which
are
recognized
as
“Liquidity
fees”
and
“Remarketing
fees,”
respectively,
on
the
Statement
of
Operations.
Preferred
Share
Transactions: 
Transactions
in
preferred
shares
during
the
Funds'
current
and
prior
fiscal
period,
where
applicable,
are
noted
in
the
following
table.
Transactions
in
AMTP
Shares
for
the
Funds,
where
applicable,
were
as
follows:
Transactions
in
MFP
Shares
for
the
Funds,
where
applicable,
were
as
follows:
Fund
Average
Liquidation
Preference
of
VRDP
Shares
Outstanding
Annualized
Dividend
Rate
NVG
$
1,236,600,000
2.86
%
NZF
682,524,862
3.76
Year
Ended
October
31,
2022
NVG
Series
Shares
Amount
AMTP
Shares
redeemed
2028
(1,120)
$(112,000,000)
NMZ
AMTP
Shares
issued
2032
1,000
$100,000,000
226
Notes
to
Financial
Statements
(Unaudited)
(continued)
Transactions
in
VRDP
Shares
for
the
Funds,
where
applicable,
were
as
follows:
6.
Income
Tax
Information
Each
Fund
is
a
separate
taxpayer
for
federal
income
tax
purposes.
Each
Fund
intends
to
distribute
substantially
all
of
its
net
investment
income
and
net
capital
gains
to
shareholders
and
otherwise
comply
with
the
requirements
of
Subchapter
M
of
the
Internal
Revenue
Code
applicable
to
regulated
investment
companies.
Therefore,
no
federal
income
tax
provision
is
required.
Each
Fund
intends
to
satisfy
conditions
that
will
enable
interest
from
municipal
securities,
which
is
exempt
from
regular
federal
income
tax,
and
in
the
case
of
NVG,
the
AMT
applicable
to
individuals
to
retain
such
tax-exempt
status
when
distributed
to
shareholders
of
the
Funds.
Net
realized
capital
gains
and
ordinary
income
distributions
paid
by
the
Funds
is
subject
to
federal
taxation.
Each
Fund
files
income
tax
returns
in
U.S.
federal
and
applicable
state
and
local
jurisdictions.
A
Fund's
federal
income
tax
returns
are
generally
subject
to
examination
for
a
period
of
three
fiscal
years
after
being
filed.
State
and
local
tax
returns
may
be
subject
to
examination
for
an
additional
period
of
time
depending
on
the
jurisdiction.
Management
has
analyzed
the
Fund's
tax
positions
taken
for
all
open
tax
years
and
has
concluded
that
no
provision
for
income
tax
is
required
in
the
Fund's
financial
statements.
As
of
the
end
of
the
reporting
period,
the
aggregate
cost
and
the
net
unrealized
appreciation/(depreciation)
of
all
investments
for
federal
income
tax
purposes
were
as
follows:
For
purposes
of
this
disclosure,
tax
cost
generally
includes
the
cost
of
portfolio
investments
as
well
as
up-front
fees
or
premiums
exchanged
on
derivatives
and
any
amounts
unrealized
for
income
statement
reporting
but
realized
income
and/or
capital
gains
for
tax
reporting,
if
applicable.
As
of
prior
fiscal
period
end,
the
components
of
accumulated
earnings
on
a
tax
basis
were
as
follows:
Six
Months
Ended
April
30,
2023
NVG
Series
Shares
Amount
MFP
Shares
redeemed
A
(935)
$(93,500,000)
Year
Ended
October
31,
2022
NVG
Series
Shares
Amount
MFP
Shares
issued
C
250,000
$250,000,000
MFP
Shares
noticed
for
redemption
A
(445)
(44,500,000)
Year
Ended
October
31,
2022
NDMO
Series
Shares
Amount
MFP
Shares
issued
A
2,400
$240,000,000
Six
Months
Ended
April
30,
2023
NZF
Series
Shares
Amount
VRDP
Shares
redeemed
3
(500)
$(50,000,000)
Year
Ended
October
31,
2022
NVG
Series
Shares
Amount
VRDP
Shares
redeemed
2
(900)
$(90,000,000)
5
(450)
   (45,000,000)
6
(400)
(40,000,000)
Total
(1,750)
(175,000,000)
Fund
Tax
Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net
Unrealized
Appreciation
(Depreciation)
NVG
$
4,664,035,407
$
188,968,317
$
(298,416,291)
$
(109,447,974)
NZF
3,805,916,754
233,918,182
(115,298,146)
118,620,036
NMZ
1,666,923,085
69,683,857
(190,635,565)
(120,951,708)
NMCO
1,135,731,084
58,125,303
(111,713,931)
(53,588,628)
NDMO
934,437,684
6,337,584
(67,312,007)
(60,974,423)
227
As
of
prior
fiscal
period
end,
the
Funds
had
capital
loss
carryforwards,
which
will
not
expire:
7.
Management
Fees
and
Other
Transactions
with
Affiliates
Management
Fees: 
Each
Fund’s
management
fee
compensates
the
Adviser
for
the
overall
investment
advisory
and
administrative
services
and
general
office
facilities.
The
Sub-Adviser
is
compensated
for
its
services
to
the
Funds
from
the
management
fees
paid
to
the
Adviser.
Each
Fund’s
management
fee
consists
of
two
components
a
fund-level
fee,
based
only
on
the
amount
of
assets
within
each
individual
Fund,
and
a
complex-level
fee,
based
on
the
aggregate
amount
of
all
eligible
fund
assets
managed
by
the
Adviser.
This
pricing
structure
enables
each
Fund’s
shareholders
to
benefit
from
growth
in
the
assets
within
their
respective
Fund
as
well
as
from
growth
in
the
amount
of
complex-wide
assets
managed
by
the
Adviser.
The
annual
fund-level
fee,
payable
monthly,
for
each
Fund
is
calculated
according
to
the
following
schedules:
Fund
Undistributed
Tax-Exempt
Income
1
Undistributed
Ordinary
Income
Undistributed
Long-Term
Capital
Gains
Unrealized
Appreciation
(Depreciation)
Capital
Loss
Carryforwards
Late-Year
Loss
Deferrals
Other
Book-to-Tax
Differences
Total
NVG
$
3,059,114
$
640,469
$
$
(437,592,703)
$
(39,628,967)
$
$
(11,636,969)
$
(485,159,056)
NZF
2,960,932
58,907
(133,626,350)
(190,528,853)
(8,352,215)
(329,487,579)
NMZ
1,785,519
2,682,585
(287,346,399)
(63,280,785)
(5,847,263)
(352,006,343)
NMCO
5,868,676
768,493
(121,462,539)
(89,959,088)
(3,167,233)
(207,951,691)
NDMO
78,306
(156,944,140)
(86,230,737)
(4,563,162)
(247,659,733)
1
Undistributed
tax-exempt
income
(on
a
tax
basis)
has
not
been
reduced
for
the
dividend
on
October
3,
2022
and
paid
on
November
1,
2022.
Fund
Short-Term
Long-Term
Total
NVG
1
$
12,873,835
$
26,755,132
$
39,628,967
NZF
1
117,615,845
72,913,008
190,528,853
NMZ
29,362,558
33,918,227
63,280,785
NMCO
72,786,146
17,172,942
89,959,088
NDMO
46,082,932
40,147,805
86,230,737
1
A
portion
of
NVG’s
and
NZF’s
capital
loss
carryforwards
is
subject
to
limitation
under
the
Internal
Revenue
Code
and
related
regulations.
NVG
NZF
NMZ
NMCO
NDMO
Average
Daily
Managed
Assets*
Fund-Level
Fee
Rate
Fund-Level
Fee
Rate
Fund-Level
Fee
Rate
Fund-Level
Fee
Rate
For
the
first
$125
million
0.5000
%
0.5500
%
0.7500
%
0.7000
%
For
the
next
$125
million
0.4875
0.5375
0.7375
0.6875
For
the
next
$250
million
0.4750
0.5250
0.7250
0.6750
For
the
next
$500
million
0.4625
0.5125
0.7125
0.6625
For
the
next
$1
billion
0.4500
0.5000
0.7000
0.6500
For
the
next
$3
billion
0.4250
0.4750
0.6750
0.6250
For
managed
assets
over
$5
billion
0.4125
0.4625
0.6625
0.6125
228
Notes
to
Financial
Statements
(Unaudited)
(continued)
The
annual
complex-level
fee,
payable
monthly,
for
each
Fund
is
calculated
by
multiplying
the
current
complex-wide
fee
rate,
determined
according
to
the
following
schedule
by
the
Funds’
daily
managed
assets:
*
For
the
complex-level
fees,
managed
assets
include
closed-end
fund
assets
managed
by
the
Adviser
that
are
attributable
to
certain
types
of
leverage.
For
these
purposes,
leverage
includes
the
funds’
use
of
preferred
stock
and
borrowings
and
certain
investments
in
the
residual
interest
certificates
(also
called
inverse
floating
rate
securities)
in
tender
option
bond
(TOB)
trusts,
including
the
portion
of
assets
held
by
a
TOB
trust
that
has
been
effectively
financed
by
the
trust’s
issuance
of
floating
rate
securities,
subject
to
an
agreement
by
the
Adviser
as
to
certain
funds
to
limit
the
amount
of
such
assets
for
determining
managed
assets
in
certain
circumstances.
The
complex-level
fee
is
calculated
based
upon
the
aggregate
daily
managed
assets
of
all
Nuveen
open-end
and
closed-end
funds
that
constitute
‘’eligible
assets.”
Eligible
assets
do
not
include
assets
attributable
to
investments
in
other
Nuveen
funds
or
assets
in
excess
of
a
determined
amount
(originally
$2
billion)
added
to
the
Nuveen
fund
complex
in
connection
with
the
Adviser’s
assumption
of
the
management
of
the
former
First
American
Funds
effective
January
1,
2011,
but
do
not
include
certain
assets
of
certain
Nuveen
funds
that
were
reorganized
into
funds
advised
by
an
affiliate
of
the
Adviser
during
the
2019
calendar
year.
As
of
April
30,
2023,
the
complex-level
fee
for
each
Fund
was
as
follows:
Other
Transactions
with
Affiliates:
Each
Fund
is
permitted
to
purchase
or
sell
securities
from
or
to
certain
other
funds
or
accounts
managed
by
the
Sub-Adviser
(“Affiliated
Entity”)
under
specified
conditions
outlined
in
procedures
adopted
by
the
Board
("cross-trade").
These
procedures
have
been
designed
to
ensure
that
any
cross-trade
of
securities
by
the
Fund
from
or
to
an
Affiliated
Entity
by
virtue
of
having
a
common
investment
adviser
(or
affiliated
investment
adviser),
common
officer
and/or
common
trustee
complies
with
Rule
17a-7
under
the
1940
Act.
These
transactions
are
effected
at
the
current
market
price
(as
provided
by
an
independent
pricing
service)
without
incurring
broker
commissions.
During
the
current
fiscal
period,
the
Funds
engaged
in
cross-trades
pursuant
to
these
procedures
as
follows:
8.
Commitments
and
Contingencies
In
the
normal
course
of
business,
each
Fund
enters
into
a
variety
of
agreements
that
may
expose
the
Fund
to
some
risk
of
loss.
These
could
include
recourse
arrangements
for
certain
TOB
Trusts
and
certain
agreements
related
to
preferred
shares,
which
are
described
elsewhere
in
these
Notes
to
Financial
Statements.
The
risk
of
future
loss
arising
from
such
agreements,
while
not
quantifiable,
is
expected
to
be
remote.
As
of
the
end
of
the
reporting
period,
the
Funds
did
not
have
any
unfunded
commitments.
Complex-Level
Eligible
Asset
Breakpoint
Level*
Effective
Complex-Level
Fee
Rate
at
Breakpoint
Level
$55
billion
0.2000
%
$56
billion
0.1996
$57
billion
0.1989
$60
billion
0.1961
$63
billion
0.1931
$66
billion
0.1900
$71
billion
0.1851
$76
billion
0.1806
$80
billion
0.1773
$91
billion
0.1691
$125
billion
0.1599
$200
billion
0.1505
$250
billion
0.1469
$300
billion
0.1445
Fund
Complex-Level
Fee
NVG
0.1592%
NZF
0.1592%
NMZ
0.1592%
NMCO
0.1592%
NDMO
0.1592%
Fund
Purchases
Sales
Realized
Gain
(Loss)
NVG
$
$
$
NZF
NMZ
NMCO
9,125,967
NDMO
229
From
time
to
time,
the
Funds
may
be
party
to
certain
legal
proceedings
in
the
ordinary
course
of
business,
including
proceedings
relating
to
the
enforcement
of
the
Funds’
rights
under
contracts.
As
of
the
end
of
the
reporting
period,
management
has
determined
that
any
legal
proceeding(s)
the
Funds
are
subject
to,
including
those
described
within
this
report,
are
unlikely
to
have
a
material
impact
to
any
of
the
Funds’
financial
statements.
9.
Borrowing
Arrangements
Committed
Line
of
Credit:
The
Funds,
along
with
certain
other
funds
managed
by
the
Adviser
(“Participating
Funds”),
have
established
a
364-day,
$2.700
billion
standby
credit
facility
with
a
group
of
lenders,
under
which
the
Participating
Funds
may
borrow
for
temporary
purposes
(other
than
on-
going
leveraging
for
investment
purposes).
Each
Participating
Fund
is
allocated
a
designated
proportion
of
the
facility’s
capacity
(and
its
associated
costs,
as
described
below)
based
upon
a
multi-factor
assessment
of
the
likelihood
and
frequency
of
its
need
to
draw
on
the
facility,
the
size
of
the
Fund
and
its
anticipated
draws,
and
the
potential
importance
of
such
draws
to
the
operations
and
well-being
of
the
Fund,
relative
to
those
of
the
other
Funds.
A
Fund
may
effect
draws
on
the
facility
in
excess
of
its
designated
capacity
if
and
to
the
extent
that
other
Participating
Funds
have
undrawn
capacity.
The
credit
facility
expires
in
June
2023
unless
extended
or
renewed.
The
credit
facility
has
the
following
terms:
0.15%
per
annum
on
unused
commitment
amounts
and
a
drawn
interest
rate
equal
to
the
higher
of
(a)
OBFR
(Overnight
Bank
Funding
Rate)
plus
1.20%
per
annum
or
(b)
the
Fed
Funds
Effective
Rate
plus
1.20%
per
annum
on
amounts
borrowed.
The
Participating
Funds
also
incurred
a
0.05%
upfront
fee
on
the
increased
commitments
from
select
lenders.
Interest
expense
incurred
by
the
Participating
Funds,
when
applicable,
is
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Participating
Funds
paid
administration,
legal
and
arrangement
fees,
which
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations,
and
along
with
commitment
fees,
have
been
allocated
among
such
Participating
Funds
based
upon
the
relative
proportions
of
the
facility’s
aggregate
capacity
reserved
for
them
and
other
factors
deemed
relevant
by
the
Adviser
and
the
Board
of
each
Participating
Fund.
During
the
current
fiscal
period,
the
following
Funds
utilized
this
facility.
Each
Fund’s
maximum
outstanding
balance
during
the
utilization
period
was
as
follows:
During
the
Funds'
utilization
period(s)
during
the
current
fiscal
period,
the
average
daily
balance
outstanding
and
average
annual
interest
rate
on
Borrowings
were
as
follows:
Borrowings
outstanding
as
of
the
end
of
the
reporting
period,
if
any,
are
recognized
as
“Borrowings”
on
the
Statement
of
Assets
and
Liabilities,
where
applicable.
10.
Inter-Fund
Borrowing
and
Lending
Inter-Fund
Borrowing
and
Lending:
The
SEC
has
granted
an
exemptive
order
permitting
registered
open-end
and
closed-end
Nuveen
funds
to
participate
in
an
inter-fund
lending
facility
whereby
the
Nuveen
funds
may
directly
lend
to
and
borrow
money
from
each
other
for
temporary
purposes
(e.g.,
to
satisfy
redemption
requests
or
when
a
sale
of
securities
“fails,”
resulting
in
an
unanticipated
cash
shortfall)
(the
“Inter-Fund
Program”).
The
closed-end
Nuveen
funds,
including
the
Funds
covered
by
this
shareholder
report,
will
participate
only
as
lenders,
and
not
as
borrowers,
in
the
Inter-Fund
Program
because
such
closed-end
funds
rarely,
if
ever,
need
to
borrow
cash
to
meet
redemptions.
The
Inter-Fund
Program
is
subject
to
a
number
of
conditions,
including,
among
other
things,
the
requirements
that
(1)
no
fund
may
borrow
or
lend
money
through
Fund
Maximum
Outstanding
Balance
NVG
$
51,100,000
NZF
82,800,000
NMZ
47,000,000
NMCO
18,809,893
NDMO
Fund
Utilization
Period
(Days
Outstanding)
Average
Daily
Balance
Outstanding
Average
Annual
Interest
Rate
NVG
23
$
26,233,543
2.45
%
NZF
74
29,632,220
2.64
NMZ
51
17,658,824
2.66
NMCO
42
10,065,228
2.63
NDMO
230
Notes
to
Financial
Statements
(Unaudited)
(continued)
the
Inter-Fund
Program
unless
it
receives
a
more
favorable
interest
rate
than
is
typically
available
from
a
bank
or
other
financial
institution
for
a
comparable
transaction;
(2)
no
fund
may
borrow
on
an
unsecured
basis
through
the
Inter-Fund
Program
unless
the
fund’s
outstanding
borrowings
from
all
sources
immediately
after
the
inter-fund
borrowing
total
10%
or
less
of
its
total
assets;
provided
that
if
the
borrowing
fund
has
a
secured
borrowing
outstanding
from
any
other
lender,
including
but
not
limited
to
another
fund,
the
inter-fund
loan
must
be
secured
on
at
least
an
equal
priority
basis
with
at
least
an
equivalent
percentage
of
collateral
to
loan
value;
(3)
if
a
fund’s
total
outstanding
borrowings
immediately
after
an
inter-fund
borrowing
would
be
greater
than
10%
of
its
total
assets,
the
fund
may
borrow
through
the
inter-fund
loan
on
a
secured
basis
only;
(4)
no
fund
may
lend
money
if
the
loan
would
cause
its
aggregate
outstanding
loans
through
the
Inter-Fund
Program
to
exceed
15%
of
its
net
assets
at
the
time
of
the
loan;
(5)
a
fund’s
inter-fund
loans
to
any
one
fund
shall
not
exceed
5%
of
the
lending
fund’s
net
assets;
(6)
the
duration
of
inter-
fund
loans
will
be
limited
to
the
time
required
to
receive
payment
for
securities
sold,
but
in
no
event
more
than
seven
days;
and
(7)
each
inter-fund
loan
may
be
called
on
one
business
day’s
notice
by
a
lending
fund
and
may
be
repaid
on
any
day
by
a
borrowing
fund.
In
addition,
a
Nuveen
fund
may
participate
in
the
Inter-Fund
Program
only
if
and
to
the
extent
that
such
participation
is
consistent
with
the
fund’s
investment
objective
and
investment
policies.
The
Board
is
responsible
for
overseeing
the
Inter-Fund
Program.
The
limitations
detailed
above
and
the
other
conditions
of
the
SEC
exemptive
order
permitting
the
Inter-Fund
Program
are
designed
to
minimize
the
risks
associated
with
Inter-Fund
Program
for
both
the
lending
fund
and
the
borrowing
fund.
However,
no
borrowing
or
lending
activity
is
without
risk.
When
a
fund
borrows
money
from
another
fund,
there
is
a
risk
that
the
loan
could
be
called
on
one
day’s
notice
or
not
renewed,
in
which
case
the
fund may
have
to
borrow
from
a
bank
at
a
higher
rate
or
take
other
actions
to
payoff
such
loan
if
an
inter-fund
loan
is
not
available
from
another
fund.
Any
delay
in
repayment
to
a
lending
fund
could
result
in
a
lost
investment
opportunity
or
additional
borrowing
costs.
During
the
current
reporting
period,
none
of
the
Funds
covered
by
this
shareholder
report
have
entered
into
any
inter-fund
loan
activity.
11.
Fund
Mergers
The
Mergers
as
previously
described
in
Note
1
General
Information
were
structured
to
qualify
as
tax-free
reorganizations
under
the
Internal
Revenue
Code
for
federal
income
tax
purposes,
and
the
Target
Funds’
shareholders
recognized
no
gain
or
loss
for
federal
income
tax
purposes
as
a
result.
Prior
to
the
closing
of
each
Merger,
the
Target
Funds
distributed
all
of
their
net
investment
income
and
capital
gains,
if
any.
Such
a
distribution
may
be
taxable
to
the
Target
Funds’
shareholders
for
federal
income
tax
purposes.
Investments:
The
cost,
fair
value
and
net
unrealized
appreciation
(depreciation)
of
the
investments
(including
investments
in
derivatives)
of
the
Target
Funds
as
of
the
date
of
each
Merger,
were
as
follows:
share
outstanding
immediately
before
and
after
each
Merger
were
as
follows:
For
financial
reporting
purposes,
assets
received
and
shares
issued
by
the
Acquiring
Fund
were
recorded
at
fair
value;
however,
the
cost
basis
of
the
investments
received
from
the
Target
Funds
were
carried
forward
to
align
ongoing
reporting
of
the
Acquiring
Fund’s
realized
and
unrealized
gains
and
losses
with
amounts
distributable
to
shareholders
for
tax
purposes.
Common
Shares:
The
common
shares
outstanding,
net
assets
applicable
to
common
shares
and
NAV
per
common
share
outstanding
immediately
before
and
after
each
Merger
were
as
follows:
Pro
Forma
Results
of
Operations
(Unaudited):
The
beginning
of
NUO
and
NKG’s
current
fiscal
period
was
March
1,
2023
and
June
1,
2022,
respectively.
Assuming
the
Mergers
had
been
completed
on
November
1,
2022,
the
beginning
of
the
Acquiring
Fund’s
current
fiscal
period,
the
pro
forma
results
of
operations
for
the
Fund’s
current
fiscal
period,
are
as
follows:
NUO
NKG
Cost
of
investments
$244,285,021
$112,066,624
Fair
value
of
investments
253,607,985
112,908,007
Net
unrealized
appreciation
(depreciation)
of
investments
9,322,964
841,383
Target
Fund
-
Prior
to
Merger
into
NZF
NUO
NKG
Common
shares
outstanding
18,254,255
10,399,812
Net
assets
applicable
to
common
shares
$269,057,366
$122,740,782
NAV
per
common
share
outstanding
$14.74
$11.80
Acquiring
Fund
-
Prior
to
Merger
NZF
Common
shares
outstanding
165,390,401
Net
assets
applicable
to
common
shares
$2,284,999,614
NAV
per
common
share
outstanding
$13.82
Acquiring
Fund
-
Post
Merger
NZF
Common
shares
outstanding
193,749,050
Net
assets
applicable
to
common
shares
$2,676,797,762
NAV
per
common
share
outstanding
$13.82
231
Because
the
combined
investment
portfolio
of
each
Merger
has
been
managed
as
a
single
integrated
portfolio
since
each
Merger
was
completed,
it
is
not
practicable
to
separate
the
amounts
of
revenue
and
earnings
of
each
Target
Fund
that
have
been
included
in
the
Statement
of
Operations
of
the
Acquiring
Fund
since
each
Merger
was
consummated.
Cost
and
Expenses:
In
connection
with
each
Merger,
the
Acquiring
Fund
incurred
certain
associated
costs
and
expenses.
Such
amounts
were
included
as
components
of
“Accrued
other
expenses”
on
the
Statement
of
Assets
and
Liabilities
and
“Reorganization/Merger
expenses”
on
the
Statement
of
Operations.
12.
Subsequent
Events
Committed
Line
of
Credit
:
During
June
2023,
the
Participating
Funds
renewed
the
standby
credit
facility
through
June
2024. All
other
terms
remain
unchanged.
Acquiring
Fund
-
Pro
Forma
Results
from
Operations
NZF
Net
investment
income
(loss)
$51,689,269
Net
realized
and
unrealized
gains
(losses)
209,640,810
Change
in
net
assets
resulting
from
operations
261,330,079
232
Risk
Considerations
(Unaudited)
Fund
shares
are
not
guaranteed
or
endorsed
by
any
bank
or
other
insured
depository
institution,
and
are
not
federally
insured
by
the
Federal
Deposit
Insurance
Corporation.
Nuveen
AMT-Free
Municipal
Credit
Income
Fund
(NVG)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall
.
Lower
credit
debt
securities
may
be
more
likely
to
fail
to
make
timely
interest
or
principal
payments.
Leverage
increases
return
volatility
and
magnifies
the
Fund’s
potential
return
and
its
risks;
there
is
no
guarantee
a
fund’s
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NVG.
Nuveen
Municipal
Credit
Income
Fund
(NZF)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Lower
credit
debt
securities
may
be
more
likely
to
fail
to
make
timely
interest
or
principal
payments.
Leverage
increases
return
volatility
and
magnifies
the
Fund’s
potential
return
and
its
risks;
there
is
no
guarantee
a
fund’s
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NZF.
Nuveen
Municipal
High
Income
Opportunity
Fund
(NMZ)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Lower
credit
debt
securities
may
be
more
likely
to
fail
to
make
timely
interest
or
principal
payments.
Leverage
increases
return
volatility
and
magnifies
the
Fund’s
potential
return
and
its
risks;
there
is
no
guarantee
a
fund’s
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NMZ.
Nuveen
Municipal
Credit
Opportunities
Fund
(NMCO)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Lower
credit
debt
securities
may
be
more
likely
to
fail
to
make
timely
interest
or
principal
payments.
Leverage
increases
return
volatility
and
magnifies
the
Fund’s
potential
return
and
its
risks;
there
is
no
guarantee
a
fund’s
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NMCO.
Nuveen
Dynamic
Municipal
Opportunities
Fund
(NDMO)
Investing
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-
end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
The
values
of
municipal
securities
held
by
the
Fund
may
be
adversely
affected
by
local
political
and
economic
conditions
and
developments.
Debt
or
fixed
income
securities
such
as
those
municipal
securities
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
liquidity
risk
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Lower
quality
municipal
securities
may
be
more
likely
to
fail
to
make
timely
interest
or
principal
payments.
Leverage
increases
return
volatility
and
magnifies
the
Fund’s
potential
return
and
its
risks;
there
is
no
guarantee
a
fund’s
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk,
derivatives
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NDMO.
233
Additional
Fund
Information
(Unaudited)
Portfolio
of
Investments
Information
The
Fund
is
required
to
file
its
complete
schedule
of
portfolio
holdings
with
the
Securities
and
Exchange
Commission
(SEC)
for
the
first
and
third
quarters
of
each
fiscal
year
as
an
exhibit
to
its
report
on
Form
N-PORT.
You
may
obtain
this
information
on
the
SEC’s
website
at
http://www.sec.gov.
Nuveen
Funds’
Proxy
Voting
Information
You
may
obtain
(i)
information
regarding
how
each
fund
voted
proxies
relating
to
portfolio
securities
held
during
the
most
recent
twelve-month
period
ended
June
30,
without
charge,
upon
request,
by
calling
Nuveen
toll-free
at
(800)
257-8787
or
on
Nuveen’s
website
at
www.nuveen.com
and
(ii)
a
description
of
the
policies
and
procedures
that
each
fund
used
to
determine
how
to
vote
proxies
relating
to
portfolio
securities
without
charge,
upon
request,
by
calling
Nuveen
toll-free
at
(800)
257-8787.
You
may
also
obtain
this
information
directly
from
the
SEC.
Visit
the
SEC
on-line
at
http://www.sec.gov.
CEO
Certification
Disclosure
The
Fund’s
Chief
Executive
Officer
(CEO)
has
submitted
to
the
New
York
Stock
Exchange
(NYSE)
the
annual
CEO
certification
as
required
by
Section
303A.12(a)
of
the
NYSE
Listed
Company
Manual.
Each
Fund
has
filed
with
the
SEC
the
certification
of
its
CEO
and
Chief
Financial
Officer
required
by
Section
302
of
the
Sarbanes-Oxley
Act.
Common
Share
Repurchases
Each
Fund
intends
to
repurchase,
through
its
open-market
share
repurchase
program,
shares
of
its
own
common
stock
at
such
times
and
in
such
amounts
as
is
deemed
advisable.
During
the
period
covered
by
this
report,
each
Fund
repurchased
shares
of
its
common
stock
as
shown
in
the
accompanying
table.
Any
future
repurchases
will
be
reported
to
shareholders
in
the
next
annual
or
semi-annual
report.
FINRA
BrokerCheck
:
The
Financial
Industry
Regulatory
Authority
(FINRA)
provides
information
regarding
the
disciplinary
history
of
FINRA
member
firms
and
associated
investment
professionals.
This
information
as
well
as
an
investor
brochure
describing
FINRA
BrokerCheck
is
available
to
the
public
by
calling
the
FINRA
BrokerCheck
Hotline
number
at
(800)
289-9999
or
by
visiting
www.FINRA.org.
Board
of
Trustees
Jack
B.
Evans
William
C.
Hunter
Amy
B.R.
Lancellotta
Joanne
T.
Medero
Albin
F.
Moschner
John
K.
Nelson
Matthew
Thornton
III
Terence
J.
Toth
Margaret
L.
Wolff
Robert
L.
Young
Investment
Adviser
Nuveen
Fund
Advisors,
LLC
333
West
Wacker
Drive
Chicago,
IL
60606
Custodian
State
Street
Bank
&
Trust
Company
One
Congress
Street
Suite
1
Boston,
MA
02114-2016
Legal
Counsel
Chapman
and
Cutler
LLP
Chicago,
IL
60603
Independent
Registered
Public
Accounting
Firm
KPMG
LLP
200
East
Randolph
Street
Chicago,
IL
60601
Transfer
Agent
and
Shareholder
Services
Computershare
Trust
Company,
N.A.
150
Royall
Street
Canton,
MA
02021
(800)
257-8787
NVG
NZF
NMZ
NMCO
NDMO
Common
shares
repurchased
0
0
0
0
0
234
Glossary
of
Terms
Used
in
this
Report
(Unaudited)
Average
Annual
Total
Return
:
This
is
a
commonly
used
method
to
express
an
investment’s
performance
over
a
particular,
usually
multi-year
time
period.
It
expresses
the
return
that
would
have
been
necessary
each
year
to
equal
the
investment’s
actual
cumulative
performance
(including
change
in
NAV
or
offer
price
and
reinvested
dividends
and
capital
gains
distributions,
if
any)
over
the
time
period
being
considered.
Duration:
Duration
is
a
measure
of
the
expected
period
over
which
a
bond’s
principal
and
interest
will
be
paid,
and
consequently
is
a
measure
of
the
sensitivity
of
a
bond’s
or
bond
fund’s
value
to
changes
when
market
interest
rates
change.
Generally,
the
longer
a
bond’s
or
fund’s
duration,
the
more
the
price
of
the
bond
or
fund
will
change
as
interest
rates
change.
Effective
Leverage:
Effective
leverage
is
a
fund’s
effective
economic
leverage,
and
includes
both
regulatory
leverage
(see
leverage)
and
the
leverage
effects
of
certain
derivative
investments
in
the
fund’s
portfolio.
Currently,
the
leverage
effects
of
Tender
Option
Bond
(TOB)
inverse
floater
holdings
are
included
in
effective
leverage
values,
in
addition
to
any
regulatory
leverage.
Industrial
Development
Revenue
Bond
(IDR):
A
unique
type
of
revenue
bond
issued
by
a
state
or
local
government
agency
on
behalf
of
a
private
sector
company
and
intended
to
build
or
acquire
factories
or
other
heavy
equipment
and
tools.
Inverse
Floating
Rate
Securities:
Inverse
floating
rate
securities
are
the
residual
interest
in
a
tender
option
bond
(TOB)
trust,
sometimes
referred
to
as
“inverse
floaters”,
are
created
by
depositing
a
municipal
bond,
typically
with
a
fixed
interest
rate,
into
a
special
purpose
trust.
This
trust,
in
turn,
(a)
issues
floating
rate
certificates
typically
paying
short-term
tax-exempt
interest
rates
to
third
parties
in
amounts
equal
to
some
fraction
of
the
deposited
bond’s
par
amount
or
market
value,
and
(b)
issues
an
inverse
floating
rate
certificate
(sometimes
referred
to
as
an
“inverse
floater”)
to
an
investor
(such
as
a
fund)
interested
in
gaining
investment
exposure
to
a
long-term
municipal
bond.
The
income
received
by
the
holder
of
the
inverse
floater
varies
inversely
with
the
short-
term
rate
paid
to
the
floating
rate
certificates’
holders,
and
in
most
circumstances
the
holder
of
the
inverse
floater
bears
substantially
all
of
the
underlying
bond’s
downside
investment
risk.
The
holder
of
the
inverse
floater
typically
also
benefits
disproportionately
from
any
potential
appreciation
of
the
underlying
bond’s
value.
Hence,
an
inverse
floater
essentially
represents
an
investment
in
the
underlying
bond
on
a
leveraged
basis.
Leverage:
Leverage
is
created
whenever
a
fund
has
investment
exposure
(both
reward
and/or
risk)
equivalent
to
more
than
100%
of
the
investment
capital.
Net
Asset
Value
(NAV)
Per
Share:
A
fund’s
Net
Assets
is
equal
to
its
total
assets
(securities,
cash,
accrued
earnings
and
receivables)
less
its
total
liabilities.
NAV
per
share
is
equal
to
the
fund’s
Net
Assets
divided
by
its
number
of
shares
outstanding.
Pre-Refunded
Bond/Pre-Refunding
:
Pre-Refunded
Bond/Pre-Refunding,
also
known
as
advanced
refundings
or
refinancings,
is
a
procedure
used
by
state
and
local
governments
to
refinance
municipal
bonds
to
lower
interest
expenses.
The
issuer
sells
new
bonds
with
a
lower
yield
and
uses
the
proceeds
to
buy
U.S.
Treasury
securities,
the
interest
from
which
is
used
to
make
payments
on
the
higher-yielding
bonds.
Because
of
this
collateral,
pre-refunding
generally
raises
a
bond’s
credit
rating
and
thus
its
value.
Regulatory
Leverage:
Regulatory
leverage
consists
of
preferred
shares
issued
by
or
borrowings
of
a
fund.
Both
of
these
are
part
of
a
fund’s
capital
structure.
Regulatory
leverage
is
subject
to
asset
coverage
limits
set
in
the
Investment
Company
Act
of
1940.
Tax
Obligation/General
Bonds:
Bonds
backed
by
the
general
revenues
of
an
issuer,
including
taxes,
where
the
issuer
has
the
ability
to
increase
taxes
by
an
unlimited
amount
to
pay
the
bonds
back.
Tax
Obligation/Limited
Bonds:
Bonds
backed
by
the
general
revenues
of
an
issuer,
including
taxes,
where
the
issuer
doesn’t
have
the
ability
to
increase
taxes
by
an
unlimited
amount
to
pay
the
bonds
back
.
Total
Investment
Exposure:
Total
investment
exposure
is
a
fund’s
assets
managed
by
the
Adviser
that
are
attributable
to
financial
leverage.
For
these
purposes,
financial
leverage
includes
a
fund’s
use
of
preferred
stock
and
borrowings
and
investments
in
the
residual
interest
certificates
(also
called
inverse
floating
rate
securities)
in
tender
option
bond
(TOB)
trusts,
including
the
portion
of
assets
held
by
a
TOB
trust
that
has
been
effectively
financed
by
the
trust’s
issuance
of
floating
rate
securities.
Zero
Coupon
Bond:
A
zero
coupon
bond
does
not
pay
a
regular
interest
coupon
to
its
holders
during
the
life
of
the
bond.
Income
to
the
holder
of
the
bond
comes
from
accretion
of
the
difference
between
the
original
purchase
price
of
the
bond
at
issuance
and
the
par
value
of
the
bond
at
maturity
and
is
effectively
paid
at
maturity.
The
market
prices
of
zero
coupon
bonds
generally
are
more
volatile
than
the
market
prices
of
bonds
that
pay
interest
periodically.
Nuveen
Securities,
LLC,
member
FINRA
and
SIPC
333
West
Wacker
Drive
Chicago,
IL
60606
www.nuveen.com
ESA-C-0423P
2913718-INV-B-06/24
Nuveen:
Serving
Investors
for
Generations
Since
1898,
financial
advisors
and
their
clients
have
relied
on
Nuveen
to
provide
dependable
investment
solutions
through
continued
adherence
to
proven,
long-term
investing
principles.
Today,
we
offer
a
range
of
high
quality
solutions
designed
to
be
integral
components
of
a
well-diversified
core
portfolio.
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meeting
investor
needs.
Nuveen
is
the
investment
manager
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TIAA.
We
have
grown
into
one
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global
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managers,
with
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ITEM 2.

CODE OF ETHICS.

Not applicable to this filing.

 

ITEM 3.

AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable to this filing.

 

ITEM 4.

PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable to this filing.

 

ITEM 5.

AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to this filing.

 

ITEM 6.

SCHEDULE OF INVESTMENTS.

 

(a)   See Portfolio of Investments in Item 1.

 

(b)   Not applicable.

 

ITEM 7.

DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this filing.

 

ITEM 8.

PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to this filing.

 

ITEM 9.

PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

 

ITEM 10.

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.


ITEM 11.

CONTROLS AND PROCEDURES.

 

(a)   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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)(17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

(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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

ITEM 12.

DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

 

ITEM 13.

EXHIBITS.

File the exhibits listed below as part of this Form.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.

(a)(2) 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)) in the exact form set forth below: See Ex-99.CERT attached hereto.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.

(a)(4) Change in the registrant’s independent public accountant. Not applicable.

(b) If the report is filed under Section  13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 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 AMT-Free Municipal Credit Income Fund

 

By (Signature and Title)       /s/ Mark L. Winget
  Mark L. Winget
  Vice President and Secretary

Date: July 6, 2023

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/ David J. Lamb
  David J. Lamb
  Chief Administrative Officer
  (principal executive officer)

Date: July 6, 2023

 

By (Signature and Title)       /s/ E. Scott Wickerham
  E. Scott Wickerham
  Vice President and Funds Controller
  (principal financial officer)

Date: July 6, 2023