NPORT-EX 2 NKX.htm
NKX
Nuveen California AMT-Free Quality Municipal Income Fund
Portfolio of Investments    November 30, 2020
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 154.6% (99.9% of Total Investments)        
    MUNICIPAL BONDS – 154.6% (99.9% of Total Investments)        
    Consumer Staples  – 5.6% (3.6% of Total Investments)        
$235   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+ $267,618
445   California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29   12/20 at 100.00 Baa1 446,740
6,380   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37   6/22 at 100.00 B- 6,616,060
24,735   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47   6/22 at 100.00 N/R 25,643,269
3,695   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-2, 5.000%, 6/01/47   6/22 at 100.00 N/R 3,813,646
8,450   Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.375%, 6/01/38   12/20 at 100.00 B- 8,485,744
43,940   Total Consumer Staples       45,273,077
    Education and Civic Organizations – 4.4% (2.8% of Total Investments)        
1,050   ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The Jackson Laboratory, Series 2012, 5.000%, 7/01/37   7/22 at 100.00 A1 1,119,951
3,000   California Educational Facilities Authority, Revenue Bonds, Pepperdine University, Series 2015, 5.000%, 9/01/40   9/25 at 100.00 AA 3,564,960
4,475   California Municipal Finance Authority Charter School Revenue Bonds, Albert Einstein Academies Project, Series 2013A, 7.125%, 8/01/43   8/23 at 100.00 BB 4,929,481
1,780   California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship Education Multiple Projects, Series 2014A, 7.250%, 6/01/43   6/22 at 102.00 N/R 1,938,901
1,600   California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2012A, 6.875%, 1/01/42, 144A (4)   1/22 at 100.00 N/R 1,620,688
635   California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A, 5.000%, 7/01/45, 144A   7/25 at 100.00 BBB 712,927
750   California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46, 144A   7/25 at 100.00 BBB 841,687
4,925   California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C, 5.000%, 7/01/46   7/25 at 101.00 BBB 5,571,652
280   California School Finance Authority, School Facility Revenue Bonds, Value Schools, Series 2016A, 5.750%, 7/01/41, 144A   7/26 at 100.00 BB+ 317,442
1,725   California State University, Systemwide Revenue Bonds, Series 2016A, 4.000%, 11/01/38   5/26 at 100.00 Aa2 1,964,827
170   California Statewide Communitities Development Authority, Charter School Revenue Bonds, Rocketship 4 - Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41   12/21 at 100.00 N/R 180,402
1

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
$10,000   University of California, General Revenue Bonds, Series 2018AZ, 5.000%, 5/15/48   5/28 at 100.00 AA $12,459,400
30,390   Total Education and Civic Organizations       35,222,318
    Health Care – 12.1% (7.8% of Total Investments)        
    California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B:        
13,295   4.000%, 11/15/41   11/26 at 100.00 A+ 14,853,440
2,960   5.000%, 11/15/46   11/26 at 100.00 A+ 3,517,131
9,415   California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A, 5.000%, 11/15/48   11/27 at 100.00 A+ 11,376,898
3,500   California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2018A, 5.000%, 11/15/48   11/27 at 100.00 A+ 4,229,330
1,255   California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2012A, 5.000%, 11/15/29   11/22 at 100.00 BBB+ 1,341,783
1,000   California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A, 5.000%, 8/15/47   8/27 at 100.00 BBB+ 1,161,570
1,000   California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2012A, 5.000%, 11/15/35   11/22 at 100.00 A+ 1,075,720
6,500   California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A, 4.000%, 4/01/44   4/30 at 100.00 BBB+ 7,436,780
10,000   California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2017A-2, 4.000%, 11/01/44   11/27 at 100.00 AA- 11,341,100
2,520   California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital, Series 2014A, 5.000%, 8/15/43   8/24 at 100.00 AA- 2,807,986
2,000   California Health Facilities Financing Authority, Revenue Bonds, Memorial Health Services, Series 2012A, 5.000%, 10/01/33   10/22 at 100.00 AA- 2,151,320
795   California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A, 5.000%, 10/01/38   10/24 at 100.00 AA- 915,935
2,800   California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B, 5.000%, 10/01/44   10/24 at 100.00 AA- 3,208,912
335   California Health Facilities Financing Authority, Revenue Bonds, Rady Children's Hospital - San Diego, Series 2011, 5.250%, 8/15/41   8/21 at 100.00 AA 344,735
250   California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A, 5.000%, 7/01/42   7/27 at 100.00 Baa2 287,857
1,690   California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A, 5.250%, 11/01/36   11/26 at 100.00 BBB- 1,962,496
    California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A:        
1,200   5.250%, 12/01/44   12/24 at 100.00 BB 1,304,640
4,000   5.500%, 12/01/54   12/24 at 100.00 BB 4,375,000
14,740   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 16,429,941
2,000   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A, 5.250%, 12/01/48, 144A   6/28 at 100.00 BB 2,283,000
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Health Care (continued)        
    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:        
$369   5.750%, 7/01/24 (4)   12/20 at 100.00 N/R $339,266
2,234   5.750%, 7/01/30 (4)   12/20 at 100.00 N/R 2,054,982
55   5.750%, 7/01/35 (4)   12/20 at 100.00 N/R 50,890
1,420   California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health System, Series 1998A, 5.000%, 8/01/22  –  AMBAC Insured   No Opt. Call AA- 1,462,671
850   San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41   12/21 at 100.00 BB 899,946
86,183   Total Health Care       97,213,329
    Housing/Multifamily – 3.2% (2.1% of Total Investments)        
3,000   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 3,396,090
500   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 555,220
4,750   California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A, 5.000%, 4/01/49, 144A   4/29 at 100.00 N/R 5,327,505
1,193   California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-1, 4.250%, 1/15/35   No Opt. Call BBB+ 1,368,771
8,032   California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-2, 4.000%, 3/20/33   No Opt. Call BBB+ 8,960,336
    California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Affordable Housing Inc Projects, Senior Series 2014A:        
260   5.250%, 8/15/39   8/24 at 100.00 BBB+ 287,456
705   5.250%, 8/15/49   8/24 at 100.00 BBB+ 773,653
155   California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47   8/22 at 100.00 A- 163,364
350   California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47   8/22 at 100.00 N/R 373,887
140   California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Colleges Project, Series 2017A, 5.000%, 7/01/37, 144A   7/27 at 100.00 Caa2 117,600
3,285   Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Rancho Vallecitos Mobile Home Park, Series 2013, 5.000%, 4/15/38   4/23 at 100.00 A- 3,488,276
    La Verne, California, Mobile Home Park Revenue Bonds, Copacabana Mobile Home Park, Refunding Series 2014:        
670   5.000%, 6/15/44   6/24 at 100.00 A 761,187
185   5.000%, 6/15/49   6/24 at 100.00 A 209,144
23,225   Total Housing/Multifamily       25,782,489
    Long-Term Care – 0.5% (0.3% of Total Investments)        
2,250   California Health Facilities Financing Authority, Insured Revenue Bonds, Community Program for Persons with Developmental Disabilities, Series 2011A, 6.250%, 2/01/26   2/21 at 100.00 AA 2,272,478
3

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Long-Term Care (continued)        
$1,300   California Health Facilities Financing Authority, Revenue Bonds, Northern California Presbyterian Homes & Services Inc, Refunding Series 2015, 5.000%, 7/01/39   7/25 at 100.00 AA $1,529,853
3,550   Total Long-Term Care       3,802,331
    Tax Obligation/General – 35.6% (23.0% of Total Investments)        
1,000   California State, General Obligation Bonds, Refunding Series 2011, 5.250%, 9/01/25   9/21 at 100.00 Aa2 1,037,920
1,600   California State, General Obligation Bonds, Refunding Various Purpose Series 2016, 5.000%, 8/01/33   8/26 at 100.00 Aa2 1,961,760
    California State, General Obligation Bonds, Refunding Various Purpose Series 2019:        
3,250   5.000%, 4/01/32   No Opt. Call Aa2 4,599,563
15,000   5.000%, 11/01/39   11/28 at 100.00 Aa2 19,335,450
    California State, General Obligation Bonds, Various Purpose Series 2011:        
2,000   5.000%, 9/01/31   9/21 at 100.00 Aa2 2,069,480
4,090   5.000%, 9/01/41   9/21 at 100.00 Aa2 4,224,888
2,625   5.000%, 10/01/41   10/21 at 100.00 Aa2 2,721,206
    California State, General Obligation Bonds, Various Purpose Series 2013:        
3,500   5.000%, 4/01/37   4/23 at 100.00 Aa2 3,859,450
2,000   5.000%, 2/01/43   2/23 at 100.00 Aa2 2,187,360
5,520   5.000%, 11/01/43   11/23 at 100.00 Aa2 6,208,123
    California State, General Obligation Bonds, Various Purpose Series 2014:        
2,460   5.000%, 10/01/39   10/24 at 100.00 Aa2 2,848,040
9,000   5.000%, 12/01/43   12/23 at 100.00 Aa2 10,153,170
9,000   5.000%, 10/01/44   10/24 at 100.00 Aa2 10,346,040
8,000   California State, General Obligation Bonds, Various Purpose Series 2015, 5.000%, 3/01/45   3/25 at 100.00 Aa2 9,307,280
5,390   California State, General Obligation Bonds, Various Purpose Series 2016, 5.000%, 9/01/46   9/26 at 100.00 Aa2 6,468,916
7,995   California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 11/01/47   11/27 at 100.00 Aa2 9,890,774
1,505   Chaffey Joint Union High School District, San Bernardino County, California, General Obligation Bonds, Election 2012 Series 2019D, 4.000%, 8/01/49   8/28 at 100.00 Aa1 1,757,404
20,750   Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/43  –  AGM Insured   No Opt. Call AA 11,754,667
9,840   Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2014, Series 2018B, 5.000%, 8/01/47   8/28 at 100.00 AAA 12,383,837
3,065   Lucia Mar Unified School District, San Luis Obispo County, California, General Obligation Bonds, Election 2016 Series 2017A, 4.000%, 8/01/46   8/27 at 100.00 Aa2 3,536,152
4,500   Mount Diablo Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2010A, 0.000%, 8/01/30  –  AGM Insured (5)   8/25 at 100.00 AA 5,009,805
3,300   Mount San Jacinto Community College District, Riverside County, California, General Obligation Bonds, Election 2014, Series 2018B, 4.000%, 8/01/43   8/28 at 100.00 Aa1 3,888,786
2,170   Oxnard Union High School District, Ventura County, California, General Obligation Bonds, Election 2018 Series 2020B, 5.000%, 8/01/45   8/28 at 100.00 Aa2 2,737,021
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General (continued)        
$1,125   San Diego Unified School District, San Diego County, California, General Obligation Bonds, Election of 1998, Series 1999A, 0.000%, 7/01/21  –  FGIC Insured   No Opt. Call Aa2 $1,123,763
11,980   San Diego Unified School District, San Diego County, California, General Obligation Bonds, Refunding Series 2012R-1, 0.000%, 7/01/31   No Opt. Call Aa2 10,416,730
9,665   San Jose, California, General Obligation Bonds, Disaster Preparedness, Public Safety & Infrastructure, Series 2019A-1, 5.000%, 9/01/45   3/29 at 100.00 AA+ 12,387,051
2,000   San Mateo County Community College District, California, General Obligation Bonds, Election 2014 Series 2018B, 5.000%, 9/01/45   9/28 at 100.00 AAA 2,542,700
2,670   San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Capital Appreciation, Election 2010, Refunding Series 2011A, 0.000%, 9/01/33 (5)   No Opt. Call Aaa 2,747,483
2,870   Sanger Unified School District, Fresno County, California, General Obligation Bonds, Election 2012, Series 2014B, 5.000%, 8/01/39  –  AGM Insured   8/24 at 100.00 AA 3,286,581
    Sonoma County Junior College District, California, General Obligation Bonds, Election 2014 Series 2019B:        
1,730   3.000%, 8/01/36   8/29 at 100.00 AA 1,923,033
2,110   3.000%, 8/01/41   8/29 at 100.00 AA 2,313,320
10,000   Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 0.000%, 8/01/41   No Opt. Call Aa2 6,376,700
    Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Election 2008 Series 2011D:        
23,280   0.000%, 8/01/47  –  AGC Insured (5)   8/37 at 100.00 AA 29,229,902
38,845   0.000%, 8/01/50  –  AGM Insured (5)   8/37 at 100.00 AA 48,714,349
15,780   Sylvan Union School District, Stanislaus County, California, General Obligation Bonds, Election of 2006, Series 2010, 0.000%, 8/01/49  –  AGM Insured (5)   No Opt. Call AA 17,773,961
8,345   Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 (5)   No Opt. Call Aa2 8,791,624
257,960   Total Tax Obligation/General       285,914,289
    Tax Obligation/Limited – 33.8% (21.9% of Total Investments)        
655   Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 19C, Series 2013A, 5.000%, 9/01/27   9/23 at 100.00 N/R 720,710
1,000   Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series 2003, 5.625%, 10/01/33  –  RAAI Insured   12/20 at 100.00 AA 1,003,760
6,700   Brea and Olinda Unified School District, Orange County, California, Certificates of Participation Refunding, Series 2002A, 5.125%, 8/01/26  –  AGM Insured   12/20 at 100.00 AA 6,724,723
3,000   California Infrastructure and Economic Development Bank, Infrastructure State Revolving Fund Revenue Bonds, Series 2016A, 5.000%, 10/01/41   10/26 at 100.00 AAA 3,671,130
    California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Series 2004:        
1,615   5.000%, 12/01/21  –  AMBAC Insured   12/20 at 100.00 AA+ 1,621,299
1,695   5.000%, 12/01/22  –  AMBAC Insured   12/20 at 100.00 AA+ 1,701,577
1,780   5.000%, 12/01/23  –  AMBAC Insured   12/20 at 100.00 AA+ 1,786,924
1,865   5.000%, 12/01/24  –  AMBAC Insured   12/20 at 100.00 AA+ 1,872,255
5

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$7,000   California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Various Correctional Facilities Series 2013F, 5.250%, 9/01/31   9/23 at 100.00 Aa3 $7,902,230
    California State Public Works Board, Lease Revenue Bonds, Department of Education, Riverside Campus Project, Series 2012H:        
2,790   5.000%, 4/01/30   4/22 at 100.00 Aa3 2,956,926
2,065   5.000%, 4/01/31   4/22 at 100.00 Aa3 2,188,260
20,330   California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, New Stockton Courthouse, Series 2014B, 5.000%, 10/01/39   10/24 at 100.00 Aa3 23,503,513
1,990   California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2013A, 5.000%, 3/01/33   3/23 at 100.00 Aa3 2,187,687
    Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Second Lien Series 2010B:        
1,230   5.000%, 8/01/25   12/20 at 100.00 N/R 1,233,973
530   5.750%, 8/01/26   12/20 at 100.00 N/R 531,961
    El Monte, California, Senior Lien Certificates of Participation, Department of Public Services Facility Phase II, Series 2001:        
1,580   5.000%, 1/01/21  –  AMBAC Insured   12/20 at 100.00 Aa2 1,586,162
5,000   5.250%, 1/01/34  –  AMBAC Insured   12/20 at 100.00 Aa2 5,017,700
1,000   Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige Heights, Refunding Series 2012, 5.000%, 9/01/32   9/22 at 100.00 A+ 1,074,040
45,825   Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Series 2015A, 5.000%, 6/01/45   6/25 at 100.00 Aa3 52,952,162
1,000   Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2013A, 5.000%, 6/01/30   6/23 at 100.00 Aa3 1,104,580
    Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D:        
7,610   5.000%, 11/15/30   11/25 at 100.00 BB 8,672,280
4,000   5.000%, 11/15/34   11/25 at 100.00 BB 4,517,560
960   Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Refunding Series 1998A, 5.250%, 5/01/23  –  AMBAC Insured   No Opt. Call N/R 1,036,454
    Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area D, Series 2014A:        
1,140   5.500%, 9/01/33   9/23 at 100.00 N/R 1,251,184
2,105   5.750%, 9/01/44   9/23 at 100.00 N/R 2,300,554
1,110   Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/40   9/25 at 100.00 N/R 1,251,758
2,000   Lammersville Joint Unified School District, California, Special Tax Bonds, Community Facilities District 2007-1 Mountain House - Shea Homes Improvement Area 1, Series 2013, 6.000%, 9/01/38   9/23 at 100.00 N/R 2,205,740
1,000   Lathrop, California, Limited Obligation Improvement Bonds, Crossroads Assessment District, Series 2015, 5.000%, 9/02/40   9/25 at 100.00 N/R 1,129,220
6,190   Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Vermont Manchester Social Services Project, Series 2005, 5.000%, 9/01/37  –  AMBAC Insured   12/20 at 100.00 Aa2 6,210,056
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
    Los Angeles County Metropolitan Transportation Authority, California, Proposition A First Tier Senior Sales Tax Revenue Bonds, Green Series 2017A:        
$7,860   5.000%, 7/01/39   7/27 at 100.00 AAA $9,802,127
7,140   5.000%, 7/01/41   7/27 at 100.00 AAA 8,866,952
3,220   Los Angeles County Metropolitan Transportation Authority, California, Proposition C Sales Tax Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/42   7/27 at 100.00 AAA 3,989,548
3,855   Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2019E-1, 5.000%, 12/01/49   12/29 at 100.00 AA+ 4,917,361
475   Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A, Subordinate Lien Series 2011A, 7.250%, 9/01/38   9/21 at 100.00 A 493,734
    Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:        
3,745   5.250%, 9/01/30   9/23 at 100.00 N/R 4,118,264
3,350   5.750%, 9/01/39   9/23 at 100.00 N/R 3,680,142
530   Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B, 5.875%, 9/01/39   9/23 at 100.00 N/R 583,991
1,960   Perris Joint Powers Authority, California, Local Agency Revenue Bonds, Community Facilities District 2001-1 May Farms Improvement Area 1,2 and 3, Refunding Series 2014A, 5.375%, 9/01/33   9/23 at 100.00 N/R 2,144,064
    Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:        
24,200   0.000%, 7/01/46   7/28 at 41.38 N/R 7,263,872
14,429   5.000%, 7/01/58   7/28 at 100.00 N/R 15,914,754
12   Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2, 4.536%, 7/01/53   7/28 at 100.00 N/R 12,867
40   Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25   10/21 at 100.00 A 42,076
    Riverside County, California, Special Tax Bonds, Community Facilities District 05-8 Scott Road, Series 2013:        
660   5.000%, 9/01/32   9/22 at 100.00 N/R 701,804
1,775   5.000%, 9/01/42   9/22 at 100.00 N/R 1,874,844
400   Roseville, California, Special Tax Bonds, Community Facilities District 1 Westpark, Refunding Series 2015, 5.000%, 9/01/33   9/25 at 100.00 N/R 457,160
    Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment District 2 Bonds, Series 2016A:        
3,695   5.000%, 10/01/36   10/26 at 100.00 AA 4,559,297
8,290   5.000%, 10/01/41   10/26 at 100.00 AA 10,123,582
6,230   5.000%, 10/01/47   10/26 at 100.00 AA 7,553,003
210   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 237,023
5,000   San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Limited Tax Series 2016A, 5.000%, 4/01/48   4/26 at 100.00 AAA 5,998,700
1,480   San Diego Redevelopment Agency, California, Subordinate Lien Tax Increment and Parking Revenue Bonds, Centre City Project, Series 2003B, 5.250%, 9/01/26   12/20 at 100.00 AAA 1,485,935
7

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$3,000   San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds, Series 2019A, 3.000%, 7/01/44   7/27 at 100.00 AA+ $3,192,420
380   San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 6 Mission Bay South Public Improvements, Refunding Series 2013A, 5.000%, 8/01/33   8/22 at 100.00 N/R 401,398
645   San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements, Refunding Series 2014, 5.000%, 8/01/39   8/24 at 100.00 N/R 689,195
2,700   San Francisco City and County Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, San Francisco Redevelopment Projects, Series 1998D, 0.000%, 8/01/24  –  NPFG Insured   No Opt. Call AA 2,629,017
995   San Marcos Public Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 2012D, 5.000%, 9/01/36   9/22 at 100.00 N/R 1,047,586
50   Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26   4/21 at 100.00 N/R 50,964
3,600   Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community Facility District 99-02, Series 2018A, 5.000%, 9/01/33   9/25 at 103.00 N/R 4,092,552
    Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017:        
2,170   6.125%, 9/01/37, 144A   9/27 at 100.00 N/R 2,373,372
1,000   6.250%, 9/01/47, 144A   9/27 at 100.00 N/R 1,083,950
635   Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series 2020A, 5.000%, 10/01/45   4/30 at 100.00 A- 793,439
4,500   Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 5.000%, 10/01/32  –  AGM Insured   10/22 at 100.00 AA 4,817,385
    West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 2015-1 Arambel-KDN, Refunding Series 2015:        
350   5.250%, 9/01/35   9/25 at 100.00 N/R 386,516
790   5.250%, 9/01/45   9/25 at 100.00 N/R 860,918
4,165   West Sacramento Financing Authority, California, Special Tax Revenue Bonds, Series 2014, 5.500%, 9/01/31   9/22 at 102.00 N/R 4,519,566
258,301   Total Tax Obligation/Limited       271,675,756
    Transportation – 14.2% (9.2% of Total Investments)        
9,005   Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second Subordinate Lien Series 2016B, 5.000%, 10/01/36   10/26 at 100.00 BBB+ 10,526,485
6,750   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2013C, 6.500%, 1/15/43   1/24 at 100.00 BBB+ 7,736,985
14,885   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 5.750%, 1/15/46   1/24 at 100.00 A- 16,740,117
10,000   Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Senior Lien Series 2020B, 4.000%, 5/15/39   5/30 at 100.00 Aa2 12,083,700
8

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Transportation (continued)        
    Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015E:        
$150   5.000%, 5/15/31   5/25 at 100.00 Aa2 $176,934
1,270   5.000%, 5/15/34   5/25 at 100.00 Aa2 1,488,326
1,345   5.000%, 5/15/36   5/25 at 100.00 Aa2 1,571,740
4,000   Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2017B, 5.000%, 5/15/42   5/27 at 100.00 Aa3 4,853,600
49,185   San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose Second Series 2017B, 5.000%, 5/01/47   5/27 at 100.00 A1 59,164,145
96,590   Total Transportation       114,342,032
    U.S. Guaranteed – 14.6% (9.4% of Total Investments) (6)        
2,545   Antelope Valley Healthcare District, California, Revenue Bonds, Series 2011A, 6.875%, 3/01/26 (Pre-refunded 3/01/21)   3/21 at 100.00 N/R 2,586,509
1,115   Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.250%, 4/01/48 (Pre-refunded 4/01/23)   4/23 at 100.00 AA- 1,246,414
430   California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2015A, 5.000%, 8/15/43 (Pre-refunded 8/15/25)   8/25 at 100.00 A+ 524,080
2,040   California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B, 5.000%, 11/15/46 (Pre-refunded 11/15/26)   11/26 at 100.00 N/R 2,595,594
    California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2016A:        
18,430   5.000%, 11/15/41 (Pre-refunded 11/15/25)   11/25 at 100.00 A+ 22,674,982
7,500   5.000%, 11/15/46 (Pre-refunded 11/15/25)   11/25 at 100.00 A+ 9,227,475
610   California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A, 5.000%, 10/01/38 (Pre-refunded 10/01/24)   10/24 at 100.00 N/R 720,904
    California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2003A:        
3,000   5.000%, 7/01/22  –  AGM Insured (ETM)   No Opt. Call AA+ 3,229,620
2,250   5.000%, 7/01/36 (Pre-refunded 1/01/28)  –  AMBAC Insured   1/28 at 100.00 AA+ 2,957,152
    California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Windsor Mobile Country Club Series 2013A:        
2,000   5.625%, 11/15/33 (Pre-refunded 11/15/23)   11/23 at 100.00 N/R 2,309,640
8,000   6.000%, 11/15/48 (Pre-refunded 11/15/23)   11/23 at 100.00 N/R 9,316,320
7,875   California Municipal Finance Authority, Revenue Bonds, Pomona College, Series 2017, 5.000%, 1/01/48 (Pre-refunded 1/01/28)   1/28 at 100.00 AAA 10,318,061
300   California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 (Pre-refunded 7/01/21)   7/21 at 100.00 N/R 311,667
3,000   Escondido Joint Powers Financing Authority, California, Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41 (Pre-refunded 3/01/22)   3/22 at 100.00 AA- 3,177,330
14,885   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 6.000%, 1/15/53 (Pre-refunded 1/15/24)   1/24 at 100.00 A- 17,542,866
9

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed (6) (continued)        
    Marysville, California, Revenue Bonds, Fremont-Rideout Health Group, Series 2011:        
$25   5.250%, 1/01/23 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R $25,102
25   4.500%, 1/01/26 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 25,087
75   5.000%, 1/01/29 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 75,292
275   5.000%, 1/01/30 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 276,070
525   5.000%, 1/01/31 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 527,042
810   5.125%, 1/01/32 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 813,232
3,750   5.250%, 1/01/42 (Pre-refunded 1/01/21)   1/21 at 100.00 N/R 3,765,337
170   National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24 (Pre-refunded 8/01/21)   8/21 at 100.00 A 177,108
65   Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21)   9/21 at 100.00 N/R 68,137
210   Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30 (Pre-refunded 9/01/21)   9/21 at 100.00 A- 218,648
1,115   Rio Elementary School District, California, Special Tax Bonds, Community Facilities District 1, Series 2013, 5.500%, 9/01/39 (Pre-refunded 9/01/23)   9/23 at 100.00 N/R 1,273,832
1,000   San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Refunding Series 2012A, 5.000%, 4/01/42 (Pre-refunded 4/01/22)   4/22 at 100.00 AAA 1,064,440
30   San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41 (Pre-refunded 2/01/21)   2/21 at 100.00 A- 30,324
    San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:        
30   7.000%, 8/01/33 (Pre-refunded 2/01/21)   2/21 at 100.00 BBB+ 30,329
40   7.000%, 8/01/41 (Pre-refunded 2/01/21)   2/21 at 100.00 BBB+ 40,438
    San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2011F:        
7,230   0.000%, 8/01/42 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 21.00 AA 1,514,468
10,450   0.000%, 8/01/43 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 19.43 AA 2,025,942
21,225   0.000%, 8/01/44 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 17.98 AA 3,807,765
12,550   0.000%, 8/01/45 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 16.64 AA 2,083,049
23,425   0.000%, 8/01/46 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 15.39 AA 3,596,440
5,000   Walnut Valley Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2007 Measure S, Series 2014C, 5.000%, 8/01/39 (Pre-refunded 8/01/24)   8/24 at 100.00 Aa1 5,861,650
95   Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.000%, 9/01/26 (Pre-refunded 9/01/21)   9/21 at 100.00 N/R 99,082
1,000   Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21)   8/21 at 100.00 Aa2 1,034,030
163,100   Total U.S. Guaranteed       117,171,458
10

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Utilities – 26.4% (17.1% of Total Investments)        
$7,600   Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/34   4/23 at 100.00 AA- $8,367,448
5,850   California Infrastructure and Economic Development Bank Clean Water State Revolving Fund Revenue Bonds, Green Series 2018, 5.000%, 10/01/43   4/28 at 100.00 AAA 7,434,180
3,675   California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authoriity Desalination Project Pipeline, Refunding Series 2019, 5.000%, 7/01/39, 144A   1/29 at 100.00 BBB 4,331,612
    Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A:        
2,490   5.000%, 11/15/35   No Opt. Call A+ 3,482,165
1,835   5.500%, 11/15/37   No Opt. Call A+ 2,752,775
10,000   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2012B, 5.000%, 7/01/43   7/22 at 100.00 Aa2 10,714,800
4,280   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2013B, 5.000%, 7/01/28   7/23 at 100.00 Aa2 4,792,658
5,000   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2016A, 5.000%, 7/01/46   1/26 at 100.00 Aa2 5,939,300
6,015   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017A, 5.000%, 7/01/42   1/27 at 100.00 Aa2 7,355,142
16,400   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017C, 5.000%, 7/01/47   7/27 at 100.00 Aa2 20,185,448
3,490   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2019C, 5.000%, 7/01/49   7/29 at 100.00 AA- 4,506,114
3,750   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Tender Option Bond Trust 2015-XF2047, 17.582%, 7/01/43, 144A (IF) (7)   7/22 at 100.00 Aa2 4,822,237
3,775   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Refunding Series 2016B, 5.000%, 7/01/35   1/26 at 100.00 AA+ 4,577,603
16,000   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2012A, 5.000%, 7/01/43   7/22 at 100.00 AA+ 17,156,960
10,515   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2014A, 5.000%, 7/01/44   7/24 at 100.00 AA+ 12,051,452
    Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2016A:        
5,680   5.000%, 7/01/35   1/26 at 100.00 AA+ 6,887,625
1,000   5.000%, 7/01/36   1/26 at 100.00 AA+ 1,210,390
    Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2017A:        
9,455   5.000%, 7/01/44   1/27 at 100.00 AA+ 11,551,835
5,000   5.250%, 7/01/44   1/27 at 100.00 AA+ 6,198,450
7,570   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2020A, 5.000%, 7/01/50   7/30 at 100.00 Aa2 9,952,582
2,210   Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Lien Series 2017A, 5.250%, 6/01/47   6/27 at 100.00 AA 2,751,561
11

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Utilities (continued)        
$5,000   Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series 2018A, 5.000%, 6/01/48   6/28 at 100.00 AA $6,284,750
9,500   Los Angeles, California, Wastewater System Revenue Bonds, Refunding Green Series 2015A, 5.000%, 6/01/44   6/25 at 100.00 AA+ 11,148,725
    Los Angeles, California, Wastewater System Revenue Bonds, Refunding Subordinate Lien Series 2013A:        
2,000   5.000%, 6/01/34   6/23 at 100.00 AA 2,215,040
3,500   5.000%, 6/01/35   6/23 at 100.00 AA 3,873,555
5,000   Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding Series 2020C, 5.000%, 7/01/39   7/30 at 100.00 AAA 6,759,050
1,000   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds,, 5.000%, 6/15/48   6/28 at 100.00 AAA 1,255,720
1,500   Placerville Public Financing Authority, California, Wastewater System Refinancing and Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34  –  SYNCORA GTY Insured   12/20 at 100.00 N/R 1,515,795
1,070   Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44   12/20 at 100.00 CCC 1,086,050
    Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A:        
580   5.500%, 7/01/28   7/22 at 100.00 CCC 608,275
2,140   5.750%, 7/01/37   7/22 at 100.00 CCC 2,247,000
1,750   6.000%, 7/01/47   7/22 at 100.00 CCC 1,841,875
4,500   Rancho California Water District Financing Authority, California, Revenue Bonds, Refunding Series 2019A, 3.000%, 8/01/40   2/30 at 100.00 AAA 5,017,995
2,500   Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Sacramento Regional County Sanitation District, Series 2014A, 5.000%, 12/01/33   6/24 at 100.00 AA 2,890,725
4,000   San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Refunding Subordinate Lien Series 2016B, 5.000%, 8/01/37   8/26 at 100.00 Aa3 4,904,400
2,975   Southern California Public Power Authority, California, Revenue Bonds, Apex Power Project Series 2014A, 5.000%, 7/01/37   7/24 at 100.00 AA- 3,408,577
178,605   Total Utilities       212,079,869
    Water and Sewer – 4.2% (2.7% of Total Investments)        
26,220   San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Refunding Green Series 2017D, 5.000%, 11/01/33 (UB) (7)   11/27 at 100.00 Aa2 33,428,665
$1,168,064   Total Long-Term Investments (cost $1,072,918,206)       1,241,905,613
    
12

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    SHORT-TERM INVESTMENTS – 0.2% (0.1% of Total Investments)        
    MUNICIPAL BONDS – 0.2% (0.1% of Total Investments)        
    Tax Obligation/Limited – 0.2% (0.1% of Total Investments)        
$1,535   California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Variable Rate Demand Obligation, Series 2004, 5.000%, 12/01/20  –  AMBAC Insured   11/20 at 100.00 AA+ $1,535,000
$1,535   Total Short-Term Investments (cost $1,535,000)       1,535,000
    Total Investments (cost $1,074,453,206) – 154.8%       1,243,440,613
    Floating Rate Obligations – (2.6)%       (20,975,000)
    MuniFund Preferred Shares, net of deferred offering costs – (17.4)% (8)       (139,990,404)
    Variable Rate Demand Preferred Shares, net of deferred offering costs – (36.2)% (9)       (290,487,146)
    Other Assets Less Liabilities – 1.4%       11,491,314
    Net Asset Applicable to Common Shares – 100%       $803,479,377
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund’s notes to financial statements, please refer to the Fund’s most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/Trustees. 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).
The following table summarizes the market value of the Fund's investments as of the end of the reporting period, based on the inputs used to value them:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Municipal Bonds $ — $1,241,905,613 $ — $1,241,905,613
Short-Term Investments:        
Municipal Bonds  — 1,535,000  — 1,535,000
Total $ — $1,243,440,613 $ — $1,243,440,613
13

NKX Nuveen California AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2020
  (Unaudited)
(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) 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) 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.  
(6) 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.  
(7) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.  
(8) MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 11.3%.  
(9) Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 23.4%.  
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.  
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.  
14