N-Q 1 nq.htm NXJ



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-09455
 
Nuveen New Jersey Quality Municipal Income Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Gifford R. Zimmerman
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            4/30          
 
Date of reporting period:         1/31/17         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
Item 1. Schedule of Investments
 

 
  
Portfolio of Investments 
 
 
 
 
 
  
Nuveen New Jersey Quality Municipal Income Fund (NXJ) 
 
 
 
 
  
January 31, 2017 (Unaudited) 
 
 
 
 
 
Principal 
  
 
Optional Call 
 
 
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
  
LONG-TERM INVESTMENTS – 146.0% (99.1% of Total Investments) 
 
 
 
 
 
  
MUNICIPAL BONDS – 146.0% (99.1% of Total Investments) 
 
 
 
 
 
  
Consumer Discretionary – 0.4% (0.2% of Total Investments) 
 
 
 
 
  
Middlesex County Improvement Authority, New Jersey, Senior Revenue Bonds, Heldrich Center 
 
 
 
 
  
Hotel/Conference Center Project, Series 2005A: 
 
 
 
$ 1,720 
  
5.000%, 1/01/32 
4/17 at 100.00 
Caa1 
$ 1,260,829 
1,485 
  
5.125%, 1/01/37 
4/17 at 100.00 
Caa1 
1,050,756 
3,205 
  
Total Consumer Discretionary 
 
 
2,311,585 
 
  
Consumer Staples – 5.7% (3.9% of Total Investments) 
 
 
 
 
  
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, 
 
 
 
 
  
Series 2007-1A: 
 
 
 
3,325 
  
4.500%, 6/01/23 
6/17 at 100.00 
Baa2 
3,387,377 
32,225 
  
4.750%, 6/01/34 
6/17 at 100.00 
B– 
28,615,473 
4,890 
  
5.000%, 6/01/41 
6/17 at 100.00 
B– 
4,401,147 
40,440 
  
Total Consumer Staples 
 
 
36,403,997 
 
  
Education and Civic Organizations – 17.0% (11.5% of Total Investments) 
 
 
 
1,760 
  
Camden County Improvement Authority, New Jersey, Lease Revenue Bonds Rowan University 
12/23 at 100.00 
A 
1,962,136 
 
  
School of Osteopathic Medicine Project, Series 2013A, 5.000%, 12/01/32 
 
 
 
2,025 
  
New Jersey Economic Development Authority, Revenue Bonds, The Seeing Eye Inc., Refunding 
No Opt. Call 
A 
2,381,056 
 
  
Series 2015, 5.000%, 3/01/25 
 
 
 
2,455 
  
New Jersey Economic Development Authority, Rutgers University General Obligation Lease 
6/23 at 100.00 
AA– 
3,544,038 
 
  
Revenue Bonds, Tender Option Bond 2016-XF2357, Formerly Tender Option Bond Trust 3359, 
 
 
 
 
  
16.353%, 6/15/46 (IF) (4) 
 
 
 
 
  
New Jersey Education Facilities Authority Revenue Bonds, The College of New Jersey Issue, 
 
 
 
 
  
Series 2013A: 
 
 
 
2,475 
  
5.000%, 7/01/38 
7/23 at 100.00 
AA– 
2,720,966 
3,250 
  
5.000%, 7/01/43 
7/23 at 100.00 
AA– 
3,559,205 
250 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Georgian Court University, Series 
7/17 at 100.00 
BBB– 
253,180 
 
  
2007D, 5.000%, 7/01/27 
 
 
 
1,100 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Refunding Series 
7/25 at 100.00 
AA 
1,093,521 
 
  
2015H, 4.000%, 7/01/39 – AGM Insured 
 
 
 
5,000 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 
7/24 at 100.00 
AA– 
5,520,400 
 
  
2014A, 5.000%, 7/01/44 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, 
 
 
 
 
  
Series 2015D: 
 
 
 
2,395 
  
5.000%, 7/01/31 
7/25 at 100.00 
AA– 
2,705,176 
1,600 
  
5.000%, 7/01/33 
7/25 at 100.00 
AA– 
1,793,440 
1,000 
  
5.000%, 7/01/34 
7/25 at 100.00 
AA– 
1,115,460 
5,955 
  
New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey City University, Series 
7/25 at 100.00 
AA 
6,452,064 
 
  
2015A, 5.000%, 7/01/45 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Passaic County Community College, 
 
 
 
 
  
Series 2010C: 
 
 
 
1,500 
  
5.250%, 7/01/32 
7/20 at 100.00 
A2 
1,589,745 
1,000 
  
5.375%, 7/01/41 
7/20 at 100.00 
A2 
1,056,220 
4,335 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Tender 
7/21 at 100.00 
AAA 
5,844,404 
 
  
Option Bond Trust 2015-XF0099, 12.424%, 7/01/39 (IF) 
 
 
 
4,000 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Tender 
7/24 at 100.00 
AAA 
5,722,240 
 
  
Option Bond Trust 2015-XF0149, 12.575%, 7/01/44 (IF) (4) 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Ramapo College, Refunding 
 
 
 
 
  
Series 2012B: 
 
 
 
550 
  
5.000%, 7/01/37 
7/22 at 100.00 
A 
598,010 
1,050 
  
5.000%, 7/01/42 
7/22 at 100.00 
A 
1,139,208 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A: 
 
 
 
1,140 
  
5.000%, 7/01/32 
7/21 at 100.00 
Baa2 
1,210,338 
740 
  
5.000%, 7/01/37 
7/21 at 100.00 
Baa2 
776,386 
1,200 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Refunding 
7/25 at 100.00 
A– 
1,317,360 
 
  
Series 2015C, 5.000%, 7/01/35 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2013D: 
 
 
 
675 
  
5.000%, 7/01/38 
7/23 at 100.00 
A– 
742,082 
1,935 
  
5.000%, 7/01/43 
7/23 at 100.00 
A– 
2,119,096 
1,970 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 
7/26 at 100.00 
A– 
1,613,174 
 
  
2016C, 3.000%, 7/01/46 
 
 
 
2,000 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Stockton University Issue, 
7/26 at 100.00 
A 
2,134,540 
 
  
Refunding Series 2016A, 5.000%, 7/01/41 
 
 
 
975 
  
New Jersey Educational Facilities Authority, Revenue Bonds, The College of Saint Elizabeth, 
7/26 at 100.00 
BB 
937,580 
 
  
Series 2016D, 5.000%, 7/01/46 
 
 
 
4,560 
  
New Jersey Educational Facilities Authority, Revenue Bonds, William Paterson University, 
7/25 at 100.00 
A+ 
4,933,829 
 
  
Series 2015C, 5.000%, 7/01/40 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Refunding Bonds, College of New Jersey, 
 
 
 
 
  
Series 2012A: 
 
 
 
200 
  
5.000%, 7/01/18 
No Opt. Call 
AA– 
210,294 
1,000 
  
5.000%, 7/01/19 
No Opt. Call 
AA– 
1,077,800 
 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Senior Lien 
 
 
 
 
  
Series 2016-1A: 
 
 
 
6,180 
  
3.500%, 12/01/32 (Alternative Minimum Tax) 
12/25 at 100.00 
AA 
5,553,101 
1,430 
  
4.000%, 12/01/39 (Alternative Minimum Tax) 
12/25 at 100.00 
AA 
1,326,625 
2,430 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2008A, 
6/18 at 100.00 
AA 
2,528,974 
 
  
6.125%, 6/01/30 – AGC Insured (Alternative Minimum Tax) 
 
 
 
990 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-1A, 
12/19 at 100.00 
AA 
1,038,124 
 
  
5.000%, 12/01/25 
 
 
 
960 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-2, 
12/20 at 100.00 
Aa3 
1,015,162 
 
  
5.000%, 12/01/30 
 
 
 
1,255 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2011-1, 
12/21 at 100.00 
Aa3 
1,373,409 
 
  
5.750%, 12/01/27 (Alternative Minimum Tax) 
 
 
 
 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1A: 
 
 
 
4,005 
  
4.250%, 12/01/25 (Alternative Minimum Tax) 
12/22 at 100.00 
AA 
4,217,545 
1,320 
  
4.375%, 12/01/26 (Alternative Minimum Tax) 
12/22 at 100.00 
AA 
1,392,772 
500 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1B, 
12/22 at 100.00 
A 
535,555 
 
  
5.750%, 12/01/39 (Alternative Minimum Tax) 
 
 
 
1,320 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2013-1A, 
12/22 at 100.00 
AA 
1,303,276 
 
  
3.750%, 12/01/26 (Alternative Minimum Tax) 
 
 
 
 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2015-1A: 
 
 
 
5,000 
  
4.000%, 12/01/28 (Alternative Minimum Tax) 
12/24 at 100.00 
AA 
5,089,050 
2,575 
  
4.000%, 12/01/30 (Alternative Minimum Tax) 
12/24 at 100.00 
AA 
2,597,763 
 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option 
 
 
 
 
  
Bond Trust 2015-XF0151: 
 
 
 
1,235 
  
9.887%, 12/01/23 (Alternative Minimum Tax) (IF) (4) 
12/22 at 100.00 
AA 
1,237,359 
1,105 
  
9.752%, 12/01/24 (Alternative Minimum Tax) (IF) (4) 
12/22 at 100.00 
AA 
1,053,385 
750 
  
10.387%, 12/01/25 (Alternative Minimum Tax) (IF) (4) 
12/22 at 100.00 
AA 
705,990 
220 
  
10.961%, 12/01/26 (Alternative Minimum Tax) (IF) (4) 
12/22 at 100.00 
AA 
208,787 
2,500 
  
11.968%, 12/01/27 (Alternative Minimum Tax) (IF) (4) 
12/23 at 100.00 
AA 
2,743,500 
2,000 
  
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option 
6/19 at 100.00 
AA 
2,601,920 
 
  
Bond Trust 2016-XG0001, Formerly Tender Option Bond Trust PA-4643, 17.340%, 6/01/30 (IF) (4) 
 
 
 
575 
  
New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2012A, 
7/22 at 100.00 
A1 
632,690 
 
  
5.000%, 7/01/42 
 
 
 
2,300 
  
New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2015A, 
7/25 at 100.00 
A1 
2,509,277 
 
  
5.000%, 7/01/45 
 
 
 
2,170 
  
Rutgers State University, New Jersey, Revenue Bonds, Tender Option Bond 2016-XF2356, Formerly 
5/23 at 100.00 
AA– 
3,158,630 
 
  
Tender Option Bond Trust 3339, 16.472%, 5/01/43 (IF) (4) 
 
 
 
98,915 
  
Total Education and Civic Organizations 
 
 
108,945,842 
 
  
Financials – 1.6% (1.1% of Total Investments) 
 
 
 
 
  
New Jersey Economic Development Authority, Revenue Refunding Bonds, Kapkowski Road Landfill 
 
 
 
 
  
Project, Series 2002: 
 
 
 
7,875 
  
5.750%, 10/01/21 
No Opt. Call 
Ba2 
8,249,929 
1,500 
  
6.500%, 4/01/28 
No Opt. Call 
Ba2 
1,737,345 
9,375 
  
Total Financials 
 
 
9,987,274 
 
  
Health Care – 21.7% (14.7% of Total Investments) 
 
 
 
 
  
Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, 
 
 
 
 
  
Cooper Health System Obligated Group Issue, Refunding Series 2014A: 
 
 
 
175 
  
5.000%, 2/15/25 
2/24 at 100.00 
BBB+ 
193,984 
220 
  
5.000%, 2/15/26 
2/24 at 100.00 
BBB+ 
240,572 
1,320 
  
5.000%, 2/15/27 
2/24 at 100.00 
BBB+ 
1,427,276 
1,385 
  
5.000%, 2/15/28 
2/24 at 100.00 
BBB+ 
1,484,360 
1,385 
  
5.000%, 2/15/29 
2/24 at 100.00 
BBB+ 
1,477,310 
2,500 
  
5.000%, 2/15/32 
2/24 at 100.00 
BBB+ 
2,634,750 
3,040 
  
5.000%, 2/15/33 
2/24 at 100.00 
BBB+ 
3,194,371 
145 
  
5.000%, 2/15/34 
2/24 at 100.00 
BBB+ 
151,824 
1,950 
  
5.000%, 2/15/35 
2/24 at 100.00 
BBB+ 
2,036,931 
6,100 
  
Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, 
2/23 at 100.00 
BBB+ 
6,750,260 
 
  
Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42 
 
 
 
225 
  
New Jersey Health Care Facilities Finance Authority, Revenue Bonds, AHS Hospital Corporation, 
7/18 at 100.00 
AA– 
234,653 
 
  
Series 2008A, 5.000%, 7/01/27 
 
 
 
2,500 
  
New Jersey Health Care Facilities Financing Authority, Hospital Revenue Bonds, Virtua Health, 
7/19 at 100.00 
AA 
3,304,300 
 
  
Tender Option Bond Trust 2016-XG0047, 17.264%, 7/01/38 – AGC Insured (IF) (4) 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters 
 
 
 
 
  
University Hospital, Refunding Series 2011: 
 
 
 
2,000 
  
6.000%, 7/01/26 
7/21 at 100.00 
BB+ 
2,123,800 
2,500 
  
6.250%, 7/01/35 
7/21 at 100.00 
BB+ 
2,671,300 
2,050 
  
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters 
7/18 at 100.00 
BB+ 
2,110,127 
 
  
University Hospital, Series 2007, 5.750%, 7/01/37 
 
 
 
1,145 
  
New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Barnabas 
7/22 at 100.00 
A+ 
1,284,839 
 
  
Health, Series 2012A, 5.000%, 7/01/24 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Palisades 
 
 
 
 
  
Medical Center Obligated Group Issue, Series 2013: 
 
 
 
2,570 
  
5.250%, 7/01/31 
7/23 at 100.00 
A– 
2,823,299 
1,285 
  
5.500%, 7/01/43 
7/23 at 100.00 
A– 
1,409,851 
2,525 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, AHS Hospital 
1/27 at 100.00 
AA– 
2,529,040 
 
  
Corporation, Refunding Series 2016, 4.000%, 7/01/41 
 
 
 
10,000 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, 
7/24 at 100.00 
A+ 
10,836,200 
 
  
Refunding Series 2014A, 5.000%, 7/01/44 
 
 
 
3,765 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, CentraState Medical 
7/17 at 100.00 
AA 
3,802,386 
 
  
Center, Series 2006A, 5.000%, 7/01/30 – AGC Insured 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical 
 
 
 
 
  
Center, Refunding Series 2014A: 
 
 
 
2,055 
  
5.000%, 7/01/45 
7/24 at 100.00 
A+ 
2,214,386 
3,295 
  
4.000%, 7/01/45 
7/24 at 100.00 
A+ 
3,207,518 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Kennedy Health System 
 
 
 
 
  
Obligated Group Issue, Refunding Series 2012: 
 
 
 
4,155 
  
3.750%, 7/01/27 
No Opt. Call 
A3 
4,169,626 
3,375 
  
5.000%, 7/01/31 
7/22 at 100.00 
A3 
3,650,400 
1,500 
  
5.000%, 7/01/37 
7/22 at 100.00 
A3 
1,588,830 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health System 
 
 
 
 
  
Obligated Group, Refunding Series 2011: 
 
 
 
3,000 
  
5.000%, 7/01/25 
7/18 at 100.00 
A+ 
3,389,910 
3,000 
  
5.000%, 7/01/26 
7/22 at 100.00 
A+ 
3,364,800 
2,500 
  
5.000%, 7/01/27 
7/22 at 100.00 
A+ 
2,797,250 
1,450 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health System 
7/23 at 100.00 
A+ 
1,599,394 
 
  
Obligated Group, Refunding Series 2013A, 5.000%, 7/01/32 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health, 
 
 
 
 
  
Series 2007: 
 
 
 
7,520 
  
5.000%, 7/01/38 – AGC Insured 
7/18 at 100.00 
AA 
7,801,248 
2,250 
  
5.000%, 7/01/38 
7/18 at 100.00 
AA 
2,339,933 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare 
 
 
 
 
  
System, Series 2016A: 
 
 
 
830 
  
5.000%, 7/01/32 
7/26 at 100.00 
Baa2 
929,119 
1,055 
  
5.000%, 7/01/33 
7/26 at 100.00 
Baa2 
1,172,938 
340 
  
5.000%, 7/01/34 
7/26 at 100.00 
Baa2 
374,864 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson 
 
 
 
 
  
University Hospital Issue, Series 2014A: 
 
 
 
4,235 
  
5.000%, 7/01/39 
7/24 at 100.00 
A+ 
4,591,968 
5,955 
  
5.000%, 7/01/43 
7/24 at 100.00 
A+ 
6,440,868 
3,945 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Robert Wood Johnson 
7/23 at 100.00 
A+ 
4,421,280 
 
  
University Hospital, Series 2013A, 5.500%, 7/01/43 
 
 
 
2,195 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, RWJ Barnabas Health 
7/26 at 100.00 
A+ 
2,389,104 
 
  
Obligated Group, Refunding Series 2016A, 5.000%, 7/01/43 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s 
 
 
 
 
  
Healthcare System Obligated Group Issue, Refunding Series 2016: 
 
 
 
1,250 
  
4.000%, 7/01/34 
7/26 at 100.00 
BBB– 
1,182,288 
2,600 
  
5.000%, 7/01/35 
7/26 at 100.00 
BBB– 
2,743,754 
1,700 
  
5.000%, 7/01/36 
7/26 at 100.00 
BBB– 
1,788,604 
6,955 
  
5.000%, 7/01/41 
7/26 at 100.00 
BBB– 
7,290,022 
5,805 
  
4.000%, 7/01/48 
7/26 at 100.00 
BBB– 
5,246,907 
2,345 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Luke’s Warren 
8/23 at 100.00 
A– 
2,306,214 
 
  
Hospital Obligated Group, Series 2013, 4.000%, 8/15/37 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital 
 
 
 
 
  
Issue, Refunding Series 2015A: 
 
 
 
5,055 
  
4.125%, 7/01/38 – AGM Insured 
7/25 at 100.00 
AA 
5,108,634 
3,910 
  
5.000%, 7/01/46 – AGM Insured 
7/25 at 100.00 
AA 
4,172,557 
131,060 
  
Total Health Care 
 
 
139,003,849 
 
  
Housing/Multifamily – 4.1% (2.8% of Total Investments) 
 
 
 
1,900 
  
New Jersey Economic Development Authority, Revenue Bonds, Provident Group – Rowan Properties 
1/25 at 100.00 
BBB– 
1,945,600 
 
  
LLC – Rowan University Student Housing Project, Series 2015A, 5.000%, 1/01/48 
 
 
 
6,075 
  
New Jersey Economic Development Authority, Revenue Bonds, West Campus Housing LLC – New 
7/25 at 100.00 
BBB– 
6,147,475 
 
  
Jersey City University Student Housing Project, Series 2015, 5.000%, 7/01/47 
 
 
 
 
  
New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident 
 
 
 
 
  
Group-Montclair Properties LLC, Montclair State University Student Housing Project, 
 
 
 
 
  
Series 2010A: 
 
 
 
3,870 
  
5.750%, 6/01/31 
6/20 at 100.00 
Baa3 
4,197,325 
2,100 
  
5.875%, 6/01/42 
6/20 at 100.00 
Baa3 
2,270,982 
 
  
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing Revenue Bonds, 
 
 
 
 
  
Series 2013-2: 
 
 
 
2,165 
  
4.350%, 11/01/33 (Alternative Minimum Tax) 
11/22 at 100.00 
AA 
2,206,806 
1,235 
  
4.600%, 11/01/38 (Alternative Minimum Tax) 
11/22 at 100.00 
AA 
1,268,184 
1,235 
  
4.750%, 11/01/46 (Alternative Minimum Tax) 
11/22 at 100.00 
AA 
1,266,764 
2,280 
  
New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015A, 
11/24 at 100.00 
AA– 
2,260,620 
 
  
4.000%, 11/01/45 
 
 
 
4,870 
  
New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2015B, 
No Opt. Call 
AA– 
4,866,445 
 
  
1.000%, 11/01/17 
 
 
 
25,730 
  
Total Housing/Multifamily 
 
 
26,430,201 
 
  
Housing/Single Family – 3.4% (2.3% of Total Investments) 
 
 
 
 
  
New Jersey Housing & Mortgage Finance Agency, Single Family Home Mortgage Revenue Bonds, 
 
 
 
 
  
Series 2011A: 
 
 
 
10,000 
  
4.450%, 10/01/25 
4/21 at 100.00 
Aa2 
10,585,700 
10,000 
  
4.650%, 10/01/29 
4/21 at 100.00 
Aa2 
10,487,300 
545 
  
New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 
4/17 at 100.00 
AA 
545,501 
 
  
2007T, 4.700%, 10/01/37 (Alternative Minimum Tax) 
 
 
 
20,545 
  
Total Housing/Single Family 
 
 
21,618,501 
 
  
Industrials – 0.2% (0.2% of Total Investments) 
 
 
 
1,340 
  
Gloucester County Improvement Authority, New Jersey, Solid Waste Resource Recovery Revenue 
No Opt. Call 
A– 
1,348,817 
 
  
Refunding Bonds, Waste Management Inc. Project, Series 1999B, 2.215%, 12/01/29 (Mandatory 
 
 
 
 
  
put 12/01/17) 
 
 
 
 
  
Long-Term Care – 2.4% (1.6% of Total Investments) 
 
 
 
7,835 
  
Burlington County Bridge Commission, New Jersey, Economic Development Revenue Bonds, The 
1/18 at 100.00 
N/R 
8,021,865 
 
  
Evergreens Project, Series 2007, 5.625%, 1/01/38 
 
 
 
510 
  
New Jersey Economic Development Authority, Fixed Rate Revenue Bonds, Lions Gate Project, 
1/24 at 100.00 
N/R 
522,444 
 
  
Series 2014, 5.250%, 1/01/44 
 
 
 
5,000 
  
New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New 
7/23 at 100.00 
BBB– 
5,211,350 
 
  
Jersey Obligated Group Issue, Refunding Series 2013, 5.000%, 7/01/34 
 
 
 
1,410 
  
New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New 
7/24 at 100.00 
BBB– 
1,509,024 
 
  
Jersey Obligated Group Issue, Refunding Series 2014A, 5.000%, 7/01/29 
 
 
 
14,755 
  
Total Long-Term Care 
 
 
15,264,683 
 
  
Tax Obligation/General – 6.9% (4.7% of Total Investments) 
 
 
 
2,225 
  
Cumberland County Improvement Authority, New Jersey, County General Obligation Revenue Bonds, 
9/24 at 100.00 
AA 
2,484,791 
 
  
Technical High School Project, Series 2014, 5.000%, 9/01/39 – AGM Insured 
 
 
 
825 
  
Elizabeth, Union County, New Jersey, General Obligation Bonds, General Improvement Series 
4/24 at 100.00 
AA 
836,253 
 
  
2014, 3.125%, 4/01/27 – AGM Insured 
 
 
 
2,250 
  
Freehold Regional High School District, Monmouth County, New Jersey, General Obligation Bonds, 
No Opt. Call 
AA+ 
2,257,785 
 
  
Refunding Series 2001, 5.000%, 3/01/17 – FGIC Insured 
 
 
 
690 
  
Haddon Heights School District, Camden County, New Jersey, General Obligation Bonds, Refunding 
1/23 at 100.00 
AA– 
683,514 
 
  
Series 2012, 3.250%, 1/01/30 
 
 
 
1,100 
  
Linden, New Jersey, General Obligation Bonds, Refunding Series 2011, 4.000%, 5/01/23 
5/21 at 100.00 
AA– 
1,180,531 
 
  
Medford Township Board of Education, Burlington County, New Jersey, General Obligation Bonds, 
 
 
 
 
  
Refunding Series 2015: 
 
 
 
710 
  
5.000%, 3/01/22 
No Opt. Call 
Aa2 
810,202 
755 
  
5.000%, 3/01/24 
No Opt. Call 
Aa2 
879,054 
1,975 
  
Middletown Township Board of Education, Monmouth County, New Jersey, Refunding Series 2010, 
8/20 at 100.00 
AA 
2,209,176 
 
  
5.000%, 8/01/27 
 
 
 
2,805 
  
Monmouth County Improvement Authority, New Jersey, Governmental Pooled Loan Revenue Bonds, 
No Opt. Call 
AAA 
3,175,456 
 
  
Refunding Series 2016B, 4.000%, 8/01/24 
 
 
 
2,280 
  
Monroe Township Board of Education, Middlesex County, New Jersey, General Obligation Bonds, 
3/25 at 100.00 
AA– 
2,554,694 
 
  
Refunding Series 2015, 5.000%, 3/01/38 
 
 
 
760 
  
Montclair Township, Essex County, New Jersey, General Obligation Bonds, Parking Utility, 
1/24 at 100.00 
AAA 
851,268 
 
  
Refunding Series 2014A, 5.000%, 1/01/37 
 
 
 
 
  
New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue 
 
 
 
 
  
Bonds, Refunding Series 2012: 
 
 
 
465 
  
5.000%, 9/01/28 
9/22 at 100.00 
A+ 
518,540 
610 
  
5.000%, 9/01/29 
9/22 at 100.00 
A+ 
678,570 
300 
  
5.000%, 9/01/31 
9/22 at 100.00 
A+ 
331,764 
250 
  
3.625%, 9/01/34 
9/22 at 100.00 
A+ 
250,033 
 
  
New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue 
 
 
 
 
  
Bonds, Refunding Series 2016: 
 
 
 
1,000 
  
3.000%, 9/01/32 
9/25 at 100.00 
AA 
946,370 
1,000 
  
3.000%, 9/01/33 
9/25 at 100.00 
AA 
934,220 
 
  
South Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Refunding 
 
 
 
 
  
Series 2014: 
 
 
 
740 
  
3.000%, 9/01/17 
No Opt. Call 
AA 
748,902 
400 
  
5.000%, 9/01/22 
No Opt. Call 
AA 
463,852 
 
  
Sparta Township Board of Education, Sussex County, New Jersey, General Obligation Bonds, 
 
 
 
 
  
Refunding Series 2015: 
 
 
 
1,595 
  
5.000%, 2/15/32 
2/25 at 100.00 
AA– 
1,811,585 
1,000 
  
5.000%, 2/15/34 
2/25 at 100.00 
AA– 
1,128,200 
1,395 
  
5.000%, 2/15/35 
2/25 at 100.00 
AA– 
1,568,566 
4,260 
  
Sussex County, New Jersey, General Obligation Bonds, Refunding Series 2014, 4.000%, 2/15/22 
No Opt. Call 
AA+ 
4,703,849 
5,165 
  
Union County Utilities Authority, New Jersey, Resource Recovery Facility Lease Revenue Bonds, 
12/21 at 100.00 
AA+ 
5,551,600 
 
  
Covantan Union Inc. Lessee, Refunding Series 2011B, 5.250%, 12/01/31 (Alternative Minimum Tax) 
 
 
 
2,515 
  
Union County Utilities Authority, New Jersey, Solid Waste System County Deficiency Revenue 
6/21 at 100.00 
Aaa 
2,728,171 
 
  
Bonds, Series 2011A, 5.000%, 6/15/41 
 
 
 
1,515 
  
Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, 
No Opt. Call 
A2 
1,827,135 
 
  
Series 2005, 5.250%, 1/01/27 – AGM Insured 
 
 
 
1,435 
  
West Deptford Township, Gloucester County, New Jersey, General Obligation Bonds, Refunding 
9/24 at 100.00 
AA 
1,528,634 
 
  
Series 2014, 4.000%, 9/01/28 – BAM Insured 
 
 
 
635 
  
West Deptford Township, Gloucester County, New Jersey, General Obligation Bonds, Series 2005, 
7/17 at 100.00 
AA 
645,293 
 
  
5.000%, 7/01/27 – AGM Insured 
 
 
 
100 
  
Woodbridge Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2010, 
No Opt. Call 
AA+ 
108,890 
 
  
5.000%, 7/15/19 
 
 
 
40,755 
  
Total Tax Obligation/General 
 
 
44,396,898 
 
  
Tax Obligation/Limited – 32.9% (22.3% of Total Investments) 
 
 
 
3,775 
  
Bergen County Improvement Authority, New Jersey, Guaranteed Lease Revenue Bonds, County 
No Opt. Call 
Aaa 
4,641,438 
 
  
Administration Complex Project, Series 2005, 5.000%, 11/15/26 
 
 
 
4,150 
  
Essex County Improvement Authority, New Jersey, Project Consolidation Revenue Bonds, Refunding 
No Opt. Call 
AA+ 
4,870,108 
 
  
Series 2007, 5.250%, 12/15/22 – AMBAC Insured 
 
 
 
3,000 
  
Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, 
No Opt. Call 
AA 
2,220,180 
 
  
Series 2003B, 0.000%, 11/01/25 – AGM Insured 
 
 
 
3,015 
  
Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, 
No Opt. Call 
AA 
3,668,893 
 
  
Series 2005A, 5.750%, 11/01/28 – AGM Insured 
 
 
 
5,120 
  
Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, 
No Opt. Call 
AA 
5,450,854 
 
  
Series 2005C, 5.125%, 11/01/18 – AGM Insured 
 
 
 
 
  
Government of Guam, Business Privilege Tax Bonds, Series 2011A: 
 
 
 
5,005 
  
5.250%, 1/01/36 
1/22 at 100.00 
A 
5,227,022 
3,020 
  
5.125%, 1/01/42 
1/22 at 100.00 
A 
3,139,411 
500 
  
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/29 
1/22 at 100.00 
A 
523,690 
1,110 
  
Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, Hudson 
4/22 at 100.00 
Aa3 
1,067,676 
 
  
County Plaza Refunding Project, Series 2013, 3.250%, 4/01/35 
 
 
 
 
  
Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, Hudson 
 
 
 
 
  
County Vocational Technical Schools Project, Series 2016: 
 
 
 
10,560 
  
5.000%, 5/01/46 
5/26 at 100.00 
AA 
11,837,338 
3,745 
  
5.250%, 5/01/51 
5/26 at 100.00 
AA 
4,268,364 
 
  
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: 
 
 
 
310 
  
5.000%, 6/15/21 
No Opt. Call 
BBB+ 
334,915 
6,400 
  
5.000%, 6/15/25 
6/22 at 100.00 
BBB+ 
6,828,928 
3,480 
  
5.000%, 6/15/26 
6/22 at 100.00 
BBB+ 
3,696,212 
7,945 
  
5.000%, 6/15/28 
6/22 at 100.00 
BBB+ 
8,397,547 
415 
  
5.000%, 6/15/29 
6/22 at 100.00 
BBB+ 
436,974 
 
  
New Jersey Economic Development Authority, Revenue Bonds, Newark Downtown District 
 
 
 
 
  
Management Corporation Project, Series 2007: 
 
 
 
440 
  
5.125%, 6/15/27 
6/17 at 100.00 
Baa3 
443,062 
740 
  
5.125%, 6/15/37 
6/17 at 100.00 
Baa3 
743,589 
5,000 
  
New Jersey Economic Development Authority, School Facilities Construction Financing Program 
6/24 at 100.00 
A3 
5,168,700 
 
  
Bonds, Refunding Series 2014PP, 5.000%, 6/15/26 
 
 
 
6,385 
  
New Jersey Economic Development Authority, School Facilities Construction Financing Program 
6/24 at 100.00 
A3 
6,573,549 
 
  
Bonds, Refunding Series 2014UU, 5.000%, 6/15/27 
 
 
 
12,000 
  
New Jersey Economic Development Authority, School Facilities Construction Financing Program 
6/25 at 100.00 
A3 
12,177,840 
 
  
Bonds, Refunding Series 2015WW, 5.250%, 6/15/40 
 
 
 
6,000 
  
New Jersey Economic Development Authority, Sublease Revenue Bonds, New Jersey Transit 
No Opt. Call 
A3 
6,333,000 
 
  
Corporation Projects, Refunding Series 2017B, 5.000%, 11/01/25 
 
 
 
1,400 
  
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset 
10/18 at 100.00 
A3 
1,409,212 
 
  
Transformation Program, Series 2008A, 5.250%, 10/01/38 
 
 
 
 
  
New Jersey Transportation Trust Fund Authority, Federal Highway Aid Grant Anticipation Bonds, 
 
 
 
 
  
Series 2006: 
 
 
 
2,120 
  
5.000%, 6/15/17 – FGIC Insured 
4/17 at 100.00 
AA– 
2,127,229 
3,750 
  
5.000%, 6/15/18 – FGIC Insured 
4/17 at 100.00 
AA– 
3,762,563 
 
  
New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, 
 
 
 
 
  
Series 2016A-1: 
 
 
 
1,130 
  
5.000%, 6/15/29 
6/26 at 100.00 
A+ 
1,199,145 
655 
  
5.000%, 6/15/30 
6/26 at 100.00 
A+ 
690,593 
32,965 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital 
No Opt. Call 
A3 
16,318,004 
 
  
Appreciation Series 2010A, 0.000%, 12/15/30 
 
 
 
8,100 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 
No Opt. Call 
A3 
8,838,639 
 
  
2006A, 5.500%, 12/15/22 
 
 
 
 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding 
 
 
 
 
  
Series 2006C: 
 
 
 
21,000 
  
0.000%, 12/15/32 – AGM Insured 
No Opt. Call 
AA 
10,006,920 
34,855 
  
0.000%, 12/15/33 – AGM Insured 
No Opt. Call 
AA 
15,721,347 
30,310 
  
0.000%, 12/15/34 – AGM Insured 
No Opt. Call 
AA 
12,905,392 
7,500 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2007A, 
12/17 at 100.00 
A3 
7,704,900 
 
  
5.000%, 12/15/26 – AMBAC Insured 
 
 
 
7,000 
  
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 
No Opt. Call 
A3 
7,408,380 
 
  
5.000%, 12/15/24 
 
 
 
3,860 
  
Passaic County Improvement Authority, New Jersey, Lease Revenue Bonds, Preakness Healthcare 
5/25 at 100.00 
AA 
3,873,433 
 
  
Center Expansion Project, Refunding Series 2015, 3.750%, 5/01/36 
 
 
 
 
  
Passaic County Improvement Authority, New Jersey, Lease Revenue Bonds, Preakness Healthcare 
 
 
 
 
  
Center Expansion Project, Series 2012: 
 
 
 
865 
  
5.000%, 5/01/21 
No Opt. Call 
Aa3 
979,898 
4,560 
  
3.500%, 5/01/35 
5/22 at 100.00 
Aa3 
4,469,256 
2,500 
  
Union County Improvement Authority, New Jersey, General Obligation Lease Bonds, County College 
No Opt. Call 
AA+ 
2,760,250 
 
  
Facility Project, Series 2014B, 5.000%, 2/01/20 
 
 
 
 
  
Union County Improvement Authority, New Jersey, General Obligation Lease Bonds, Juvenile 
 
 
 
 
  
Detention Center Facility Project, Tender Option Bond Trust 2015-XF1019: 
 
 
 
285 
  
22.106%, 5/01/28 (IF) (4) 
No Opt. Call 
Aaa 
622,292 
285 
  
22.179%, 5/01/29 (IF) (4) 
No Opt. Call 
Aaa 
628,596 
200 
  
22.179%, 5/01/30 (IF) (4) 
No Opt. Call 
Aaa 
441,840 
370 
  
21.954%, 5/01/31 (IF) (4) 
No Opt. Call 
Aaa 
816,775 
385 
  
22.071%, 5/01/32 (IF) (4) 
No Opt. Call 
Aaa 
861,222 
400 
  
22.075%, 5/01/33 (IF) (4) 
No Opt. Call 
Aaa 
892,780 
415 
  
22.179%, 5/01/34 (IF) (4) 
No Opt. Call 
Aaa 
919,225 
3,975 
  
Union County Improvement Authority, New Jersey, Lease Revenue Bonds, Plainfield – Park Madison 
No Opt. Call 
AA+ 
7,526,702 
 
  
Redevelopment Project, Tender Option Trust 2016-XG0057, 15.967%, 3/01/34 (IF) (4) 
 
 
 
261,000 
  
Total Tax Obligation/Limited 
 
 
210,933,883 
 
  
Transportation – 26.1% (17.7% of Total Investments) 
 
 
 
5,550 
  
Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 
4/17 at 100.00 
AA– 
5,653,563 
 
  
5.250%, 6/01/20 – NPFG Insured 
 
 
 
2,400 
  
Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2012A, 
1/23 at 100.00 
A1 
2,614,920 
 
  
5.000%, 1/01/42 
 
 
 
 
  
Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2014A: 
 
 
 
1,285 
  
5.000%, 1/01/34 
1/24 at 100.00 
A1 
1,423,266 
5,890 
  
4.125%, 1/01/39 
1/24 at 100.00 
A1 
6,043,199 
7,800 
  
5.000%, 1/01/44 
1/24 at 100.00 
A1 
8,548,176 
 
  
Delaware River Joint Toll Bridge Commission, New Jersey and Pennsylvania, Bridge System 
 
 
 
 
  
Revenue Bonds, Refunding Series 2015: 
 
 
 
440 
  
3.000%, 7/01/27 – BAM Insured 
7/25 at 100.00 
AA 
436,572 
1,000 
  
4.000%, 7/01/34 – BAM Insured 
7/25 at 100.00 
AA 
1,034,680 
2,820 
  
4.000%, 7/01/35 – BAM Insured 
7/25 at 100.00 
AA 
2,905,333 
 
  
Delaware River Joint Toll Bridge Commission, Pennsylvania, Bridge System Revenue Bonds, 
 
 
 
 
  
Refunding Series 2012A: 
 
 
 
2,150 
  
5.000%, 7/01/24 
7/22 at 100.00 
A1 
2,468,824 
1,105 
  
5.000%, 7/01/25 
7/22 at 100.00 
A1 
1,260,054 
650 
  
4.000%, 7/01/26 
7/22 at 100.00 
A1 
692,653 
625 
  
4.000%, 7/01/27 
7/22 at 100.00 
A1 
661,638 
 
  
Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E: 
 
 
 
1,000 
  
5.000%, 1/01/40 – AGM Insured 
1/20 at 100.00 
AA 
1,085,760 
5,005 
  
5.000%, 1/01/40 
1/20 at 100.00 
A 
5,426,771 
7,035 
  
Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013, 
1/24 at 100.00 
A 
7,723,375 
 
  
5.000%, 1/01/40 
 
 
 
 
  
Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port 
 
 
 
 
  
District Project, Series 2012: 
 
 
 
1,800 
  
5.000%, 1/01/24 
1/23 at 100.00 
A– 
1,995,642 
1,635 
  
5.000%, 1/01/25 
1/23 at 100.00 
A– 
1,799,857 
1,875 
  
5.000%, 1/01/26 
1/23 at 100.00 
A– 
2,065,013 
3,595 
  
5.000%, 1/01/27 
1/23 at 100.00 
A– 
3,937,136 
5,555 
  
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge 
1/24 at 100.00 
BBB 
6,134,387 
 
  
Replacement Project, Series 2013, 5.625%, 1/01/52 (Alternative Minimum Tax) 
 
 
 
 
  
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental 
 
 
 
 
  
Airlines Inc., Series 1999: 
 
 
 
1,000 
  
5.125%, 9/15/23 (Alternative Minimum Tax) 
3/17 at 100.00 
BB– 
1,058,760 
1,800 
  
5.250%, 9/15/29 (Alternative Minimum Tax) 
8/22 at 101.00 
BB– 
1,898,748 
2,250 
  
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental 
3/24 at 101.00 
BB– 
2,448,608 
 
  
Airlines Inc., Series 2000A & 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax) 
 
 
 
 
  
New Jersey Transit Corporation, Grant Anticipation Notes, Federal Transit Administration 
 
 
 
 
  
Section 5307 Urbanized Area Formula Funds, Series 2014A: 
 
 
 
6,000 
  
5.000%, 9/15/20 
No Opt. Call 
A 
6,475,920 
5,750 
  
5.000%, 9/15/21 
No Opt. Call 
A 
6,260,428 
7,780 
  
New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2015E, 5.000%, 1/01/45 
1/25 at 100.00 
A+ 
8,591,921 
3,065 
  
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.250%, 1/01/29 – AGM Insured 
No Opt. Call 
AA 
3,772,341 
7,500 
  
New Jersey Turnpike Authority, Revenue Bonds, Series 2009I, 5.000%, 1/01/35 
1/20 at 100.00 
A+ 
8,103,225 
7,620 
  
New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/28 
1/23 at 100.00 
A+ 
8,630,183 
3,625 
  
New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057, 15.195%, 
7/22 at 100.00 
A+ 
5,053,685 
 
  
1/01/43 (IF) (4) 
 
 
 
2,100 
  
Passaic County Improvement Authority, New Jersey, County Guaranteed Parking Revenue Bonds, 
5/20 at 100.00 
Aa3 
2,280,873 
 
  
200 Hospital Plaza Project, Series 2010, 5.000%, 5/01/42 
 
 
 
2,750 
  
Passaic County Improvement Authority, New Jersey, Revenue Bonds, Paterson Parking Deck 
4/17 at 100.00 
A2 
2,757,535 
 
  
Facility, Series 2005, 5.000%, 4/15/35 – AGM Insured 
 
 
 
7,235 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy 
12/23 at 100.00 
AA– 
8,194,361 
 
  
Ninth Series 2013, 5.000%, 12/01/43 
 
 
 
5,700 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy 
1/23 at 100.00 
AA– 
5,763,213 
 
  
Seventh Series 2013, 4.000%, 1/15/43 (Alternative Minimum Tax) 
 
 
 
 
  
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air 
 
 
 
 
  
Terminal LLC, Sixth Series 1997: 
 
 
 
19,655 
  
5.750%, 12/01/22 – NPFG Insured (Alternative Minimum Tax) 
4/17 at 100.00 
AA– 
19,947,465 
12,130 
  
5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax) 
4/17 at 100.00 
AA– 
12,310,494 
155,175 
  
Total Transportation 
 
 
167,458,579 
 
  
U.S. Guaranteed – 13.5% (9.2% of Total Investments) (5) 
 
 
 
25 
  
Essex County Improvement Authority, New Jersey, Project Consolidation Revenue Bonds, Refunding 
No Opt. Call 
Aa2 (5) 
29,763 
 
  
Series 2007, 5.250%, 12/15/22 – AMBAC Insured (ETM) 
 
 
 
645 
  
New Jersey Economic Development Authority, Revenue Bonds, Yeshiva Ktana of Passaic, Series 
No Opt. Call 
N/R (5) 
690,698 
 
  
1993, 8.000%, 9/15/18 (ETM) 
 
 
 
 
  
New Jersey Economic Development Authority, School Facilities Construction Financing Program 
 
 
 
 
  
Bonds, Series 2007U: 
 
 
 
2,625 
  
5.000%, 9/01/37 (Pre-refunded 9/01/17) – AMBAC Insured 
9/17 at 100.00 
AAA 
2,688,026 
5,435 
  
5.000%, 9/01/37 (Pre-refunded 9/01/17) 
9/17 at 100.00 
AAA 
5,565,494 
1,545 
  
5.000%, 9/01/37 (Pre-refunded 9/01/17) – AMBAC Insured 
9/17 at 100.00 
A– (5) 
1,582,095 
2,910 
  
5.000%, 9/01/37 (Pre-refunded 9/01/17) 
9/17 at 100.00 
A3 (5) 
2,979,869 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Series 2007D: 
 
 
 
7,310 
  
5.000%, 7/01/32 (Pre-refunded 7/01/17) – FGIC Insured 
7/17 at 100.00 
AA– (5) 
7,438,656 
6,875 
  
5.000%, 7/01/39 (Pre-refunded 7/01/17) – FGIC Insured 
7/17 at 100.00 
AA– (5) 
6,996,000 
1,000 
  
New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Series 
7/17 at 100.00 
AAA 
1,016,050 
 
  
2007E, 5.000%, 7/01/33 (Pre-refunded 7/01/17) 
 
 
 
15 
  
New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and 
No Opt. Call 
N/R (5) 
15,588 
 
  
Dentistry of New Jersey, Refunding Series 2009B, 6.000%, 12/01/17 (ETM) 
 
 
 
 
  
New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and 
 
 
 
 
  
Dentistry of New Jersey, Refunding Series 2009B: 
 
 
 
25 
  
6.500%, 12/01/19 (Pre-refunded 6/01/19) 
6/19 at 100.00 
N/R (5) 
28,024 
100 
  
6.500%, 12/01/20 (Pre-refunded 6/01/19) 
6/19 at 100.00 
N/R (5) 
112,095 
5 
  
7.125%, 12/01/23 (Pre-refunded 6/01/19) 
6/19 at 100.00 
N/R (5) 
5,674 
30 
  
New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Series 
9/21 at 100.00 
N/R (5) 
32,210 
 
  
2012A, 3.250%, 9/01/31 (Pre-refunded 9/01/21) 
 
 
 
4,885 
  
New Jersey Health Care Facilities Finance Authority, Revenue Bonds, AHS Hospital Corporation, 
7/18 at 100.00 
N/R (5) 
5,153,431 
 
  
Series 2008A, 5.000%, 7/01/27 (Pre-refunded 7/01/18) 
 
 
 
6,840 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Atlanticare Regional 
7/17 at 100.00 
N/R (5) 
6,958,606 
 
  
Medical Center, Series 2007, 5.000%, 7/01/37 (Pre-refunded 7/01/17) 
 
 
 
7,670 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health 
7/21 at 100.00 
A+ (5) 
8,988,396 
 
  
Care System, Refunding Series 2011A, 5.625%, 7/01/37 (Pre-refunded 7/01/21) 
 
 
 
5,000 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s 
7/18 at 100.00 
Baa3 (5) 
5,388,300 
 
  
Healthcare System Obligated Group Issue, Series 2008, 6.625%, 7/01/38 (Pre-refunded 7/01/18) 
 
 
 
3,805 
  
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, St. Clare’s Hospital, 
4/17 at 100.00 
AA (5) 
4,281,158 
 
  
Series 2004A, 5.250%, 7/01/20 – RAAI Insured (ETM) 
 
 
 
 
  
New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Palisades 
 
 
 
 
  
Medical Center Obligated Group Issue, Series 2013: 
 
 
 
555 
  
5.250%, 7/01/31 (Pre-refunded 7/01/23) 
7/23 at 100.00 
N/R (5) 
666,261 
275 
  
5.500%, 7/01/43 (Pre-refunded 7/01/23) 
7/23 at 100.00 
N/R (5) 
334,263 
410 
  
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset 
10/18 at 100.00 
N/R (5) 
438,405 
 
  
Transformation Program, Series 2008A, 5.250%, 10/01/38 (Pre-refunded 10/01/18) 
 
 
 
1,555 
  
New Jersey Sports and Exposition Authority, Convention Center Luxury Tax Bonds, Series 2004, 
No Opt. Call 
AA– (5) 
1,842,457 
 
  
5.500%, 3/01/22 – NPFG Insured (ETM) 
 
 
 
1,650 
  
Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward 
12/19 at 100.00 
A3 (5) 
1,897,401 
 
  
Police Facility, Series 2009A, 6.750%, 12/01/38 (Pre-refunded 12/01/19) – AGC Insured 
 
 
 
305 
  
North Hudson Sewerage Authority, New Jersey, Gross Revenue Senior Lien Lease Certificates, 
6/22 at 100.00 
N/R (5) 
355,093 
 
  
Series 2012A, 5.000%, 6/01/27 (Pre-refunded 6/01/22) 
 
 
 
15,840 
  
North Hudson Sewerage Authority, New Jersey, Sewerage Revenue Refunding Bonds, Series 2001A, 
No Opt. Call 
A3 (5) 
13,647,110 
 
  
0.000%, 8/01/23 – NPFG Insured (ETM) 
 
 
 
7,580 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty 
8/17 at 100.00 
AA (5) 
7,753,203 
 
  
Eighth Series 2007, 5.000%, 8/15/32 (Pre-refunded 8/15/17) – AGM Insured 
 
 
 
84,915 
  
Total U.S. Guaranteed 
 
 
86,884,326 
 
  
Utilities – 4.3% (2.9% of Total Investments) 
 
 
 
13,500 
  
Essex County Improvement Authority, New Jersey, Solid Waste Disposal Revenue Bonds, Covanta 
7/20 at 100.00 
Ba2 
13,391,055 
 
  
Project, Series 2015, 5.250%, 7/01/45 (Alternative Minimum Tax) 
 
 
 
1,510 
  
Industrial Pollution Control Financing Authority of Cape May County (New Jersey), Pollution 
No Opt. Call 
AA– 
1,751,223 
 
  
Control Revenue Refunding Bonds, 1991 Series A (Atlantic City Electric Company Project), 
 
 
 
 
  
6.800%, 3/01/21 – NPFG Insured 
 
 
 
 
  
New Jersey Economic Development Authority, Energy Facilities Revenue Bonds, UMM Energy 
 
 
 
 
  
Partners, LLC Project, Series 2012A: 
 
 
 
1,000 
  
4.750%, 6/15/32 (Alternative Minimum Tax) 
6/22 at 100.00 
Baa3 
1,019,890 
1,225 
  
5.125%, 6/15/43 (Alternative Minimum Tax) 
6/22 at 100.00 
Baa3 
1,256,409 
5,100 
  
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American 
5/20 at 100.00 
A+ 
5,559,255 
 
  
Water Company Inc. Project, Refunding Series 2010B, 5.600%, 11/01/34 (Alternative Minimum Tax) 
 
 
 
2,040 
  
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American 
11/20 at 100.00 
A+ 
2,167,908 
 
  
Water Company Inc. Project, Refunding Series 2010D, 4.875%, 11/01/29 (Alternative Minimum Tax) 
 
 
 
2,300 
  
Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue 
No Opt. Call 
BBB– 
2,511,117 
 
  
Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (Alternative Minimum Tax) 
 
 
 
26,675 
  
Total Utilities 
 
 
27,656,857 
 
  
Water and Sewer – 5.8% (4.0% of Total Investments) 
 
 
 
 
  
Bergen County Utilities Authority, New Jersey, Water Pollution Control System Revenue Bonds, 
 
 
 
 
  
Refunding Series 2014: 
 
 
 
1,000 
  
3.125%, 12/15/30 
12/24 at 100.00 
AA– 
975,170 
1,000 
  
3.125%, 12/15/31 
12/24 at 100.00 
AA– 
965,810 
 
  
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, Middlesex Water 
 
 
 
 
  
Company, Series 2012C: 
 
 
 
1,460 
  
5.000%, 10/01/23 
No Opt. Call 
A+ 
1,688,870 
15,670 
  
4.250%, 10/01/47 (Alternative Minimum Tax) 
10/22 at 100.00 
A+ 
15,878,410 
1,650 
  
New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Series 
9/21 at 100.00 
AAA 
1,668,612 
 
  
2012A, 3.250%, 9/01/31 
 
 
 
6,270 
  
New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Tender 
No Opt. Call 
AAA 
7,585,195 
 
  
Option Bond Trust 2016-XF0395, 6.777%, 9/01/21 (IF) (4) 
 
 
 
 
  
North Hudson Sewerage Authority, Gross Revenue Senior Lien Lease Certificates, Series 2012A: 
 
 
 
3,515 
  
5.000%, 6/01/27 
6/22 at 100.00 
A 
3,895,675 
4,000 
  
5.000%, 6/01/42 – NPFG Insured 
6/22 at 100.00 
A 
4,342,120 
300 
  
Wanaque Valley Regional Sewer Authority, Passaic County, New Jersey, Sewer Revenue Refunding 
No Opt. Call 
N/R 
307,875 
 
  
Bonds, Series 1993B, 5.750%, 9/01/18 – AMBAC Insured 
 
 
 
34,865 
  
Total Water and Sewer 
 
 
37,307,737 
$ 948,750 
  
Total Long-Term Investments (cost $901,787,209) 
 
 
935,953,029 
           
Principal 
  
 
Optional Call 
 
 
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
  
SHORT-TERM INVESTMENTS 1.3% (0.9% of Total Investments) 
 
 
 
 
 
  
MUNICIPAL BONDS 1.3% (0.9% of Total Investments) 
 
 
 
 
 
  
Housing/Single Family – 1.3% (0.9% of Total Investments) 
 
 
 
$ 1,465 
  
New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Variable 
4/17 at 100.00 
A-2 
$ 1,465,000 
 
  
Rate Demand Obligation, Series 2005O, 0.790%, 10/01/26 (6) 
 
 
 
7,050 
  
New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Variable 
4/17 at 100.00 
A-2 
7,050,000 
 
  
Rate Demand Obligation, Series 2005O, 0.790%, 4/01/31 (6) 
 
 
 
8,515 
  
Total Housing/Single Family 
 
 
8,515,000 
$ 8,515 
  
Total Short-Term Investments (cost $8,515,000) 
 
 
8,515,000 
 
  
Total Investments (cost $910,302,209) – 147.3% 
 
 
944,468,029 
 
  
Variable Rate Demand Preferred Shares, at Liquidation Preference – (49.0)% (7) 
 
 
(313,900,000) 
 
  
Other Assets Less Liabilities – 1.7% (8) 
 
 
10,682,559 
 
  
Net Assets Applicable to Common Shares – 100% 
 
 
$ 641,250,588 

 
                 
Investment in Derivatives as of January 31, 2017 
 
 
 
 
 
Interest Rate Swaps 
 
 
 
 
 
 
 
 
 
 
Fund 
 
 
Fixed Rate 
 
 
Unrealized 
 
Notional 
Pay/Receive 
Floating Rate 
Fixed Rate 
Payment 
Effective 
Termination 
Appreciation 
Counterparty 
Amount 
Floating Rate 
Index 
(Annualized) 
Frequency 
Date (9) 
Date 
(Depreciation) 
JPMorgan Chase Bank, N.A. 
$25,750,000 
Receive 
USD-BMA 
1.130% 
Quarterly 
10/30/17 
10/30/26 
$1,791,075 
 
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
         
 
Level 1 
Level 2 
Level 3 
Total 
Long-Term Investments: 
 
 
 
 
Municipal Bonds 
$ — 
$935,953,029 
$ — 
$935,953,029 
Short-Term Investments: 
 
 
 
 
Municipal Bonds 
— 
8,515,000 
— 
8,515,000 
Investments in Derivatives: 
 
 
 
 
Interest Rate Swaps* 
— 
1,791,075 
— 
1,791,075 
Total 
$ — 
$946,259,104 
$ — 
$946,259,104 
* Represents net unrealized appreciation (depreciation). 
 
 
 
 
 
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
As of January 31, 2017, the cost of investments (excluding investments in derivatives) was $907,507,770.
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) as of January 31, 2017, were as follows:
   
Gross unrealized: 
 
Appreciation 
$45,817,763 
Depreciation 
(8,857,504) 
Net unrealized appreciation (depreciation) of investments 
$36,960,259 

 
(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) 
  
For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group 
   
(“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating.
 
  
This treatment of split-rated securities may differ from that used for other purposes, such as for 
   
Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by
 
  
Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any 
 
  
of these national rating agencies. 
(4) 
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations 
 
  
for investments in inverse floating rate transactions. 
(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. Certain bonds backed by U.S. 
 
  
Government or agency securities are regarded as having an implied rating equal to the rating of 
 
  
such securities. 
(6) 
  
Investment has maturity of greater than one year, but has variable rate and demand features which 
 
  
qualify it as a short-term investment. The rate disclosed 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.
(7) 
  
Variable Rate Demand Preferred Shares, at Liquidation Preference as a percentage of Total 
 
  
Investments is 33.2%. 
(8) 
  
Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter 
 
  
(“OTC”) derivatives as well as the unrealized appreciation (depreciation) of OTC-cleared and exchange- 
 
  
traded derivatives, when applicable. 
(9) 
  
Effective date represents the date on which both the Fund and Counterparty commence interest 
 
  
payment accruals on each contract. 
(ETM) 
  
Escrowed to maturity. 
(IF) 
  
Inverse floating rate investment. 
USD-BMA 
  
United States Dollar-Bond Market Association 

 
 
Item 2. 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 Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen New Jersey Quality Municipal Income Fund 
 
By (Signature and Title) /s/ Gifford R. Zimmerman            
       Gifford R. Zimmerman
     Vice President and Secretary
                                         
Date:         March 31, 2017        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title) /s/ Cedric H. Antosiewicz            
       Cedric H. Antosiewicz
     Chief Administrative Officer (principal executive officer)
                        
Date:         March 31, 2017        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         March 31, 2017