1

Nuveen

Short-Term

REIT

ETF

(NURE)

Portfolio

of

Investments

March

31,

2023

(Unaudited)

Shares

Description

(1)

Value

LONG-TERM

INVESTMENTS

-

99.4%  

REAL

ESTATE

INVESTMENT

TRUST

COMMON

STOCKS

-

99.4%

Apartments

-

46.6%

91,434

American

Homes

4

Rent,

Class

A

$

2,875,599

47,865

Apartment

Income

REIT

Corp

1,714,046

48,797

Apartment

Investment

and

Management

Co,

Class

A

375,249

16,308

AvalonBay

Communities

Inc

2,740,723

24,984

Camden

Property

Trust

2,619,322

4,849

Centerspace

264,901

45,732

Equity

Residential

2,743,920

12,188

Essex

Property

Trust

Inc

2,548,998

72,036

Independence

Realty

Trust

Inc

1,154,737

89,556

Invitation

Homes

Inc

2,796,834

18,167

Mid-America

Apartment

Communities

Inc

2,743,944

7,318

NexPoint

Residential

Trust

Inc

319,577

67,300

UDR

Inc

2,763,338

Total

Apartments

25,661,188

Diversified

-

1.4%

28,164

Elme

Communities

503,009

17,297

UMH

Properties

Inc

255,823

Total

Diversified

758,832

Hotels

-

18.5%

68,463

Apple

Hospitality

REIT

Inc

1,062,546

10,948

Ashford

Hospitality

Trust

Inc

(2)

35,143

15,705

Chatham

Lodging

Trust

164,745

67,380

DiamondRock

Hospitality

Co

547,799

10,586

Hersha

Hospitality

Trust,

Class

A

71,138

166,919

Host

Hotels

&

Resorts

Inc

2,752,494

72,357

Park

Hotels

&

Resorts

Inc

894,333

42,310

Pebblebrook

Hotel

Trust

594,033

52,152

RLJ

Lodging

Trust

552,811

17,752

Ryman

Hospitality

Properties

Inc

1,592,887

53,245

Service

Properties

Trust

530,320

34,401

Summit

Hotel

Properties

Inc

240,807

67,711

Sunstone

Hotel

Investors

Inc

668,985

36,638

Xenia

Hotels

&

Resorts

Inc

479,592

Total

Hotels

10,187,633

Manufactured

Homes

-

10.2%

42,341

Equity

LifeStyle

Properties

Inc

2,842,351

20,063

Sun

Communities

Inc

2,826,475

Total

Manufactured

Homes

5,668,826

Self-Storage

-

22.7%

59,722

CubeSmart

2,760,351

17,300

Extra

Space

Storage

Inc

2,818,689

22,179

Life

Storage

Inc

2,907,445

27,194

National

Storage

Affiliates

Trust

1,136,165

9,414

Public

Storage

2,844,346

Total

Self-Storage

12,466,996

Total

Long-Term

Investments

(cost

$72,648,636)

54,743,475

Other

Assets

&

Liabilities,

Net

-

0.6%

342,892

Net

Assets

-

100%

$

55,086,367

Nuveen

Short-Term

REIT

ETF

(NURE)

(continued)

Portfolio

of

Investments

March

31,

2023

(Unaudited)

2

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:

Real

Estate

Investment

Trust

Common

Stocks

$

54,743,475

$

–

$

–

$

54,743,475

Total

$

54,743,475

$

–

$

–

$

54,743,475

For

Fund

portfolio

compliance

purposes,

the

Fund’s

industry

classifications

refer

to

any

one

or

more

of

the

industry

sub-classifications

used

by

one

or

more

widely

recognized

market

indexes

or

ratings

group

indexes,

and/or

as

defined

by

Fund

management.

This

definition

may

not

apply

for

purposes

of

this

report,

which

may

combine

industry

sub-classifications

into

sectors

for

reporting

ease.

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets.

(2)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

REIT

Real

Estate

Investment

Trust