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- 05309
Nuveen Investment Funds, Inc.
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Kevin J. McCarthyVice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)
Registrants telephone number, including area code: 312-917-7700
Date of fiscal year end: May 31
Date of reporting period: August 31, 2011
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 (Unaudited)
Nuveen Colorado Tax Free Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.0% |
||||||||||||||||||
Education and Civic Organizations 19.6% |
||||||||||||||||||
Adams State College, Alamosa, Colorado, Auxiliary Facilities Revenue Bonds, Improvement Series 2009A: |
||||||||||||||||||
$ | 1,340 | 5.500%, 5/15/34 |
5/19 at 100.00 | Aa2 | $ | 1,438,517 | ||||||||||||
1,000 | 5.500%, 5/15/39 |
5/19 at 100.00 | Aa2 | 1,064,100 | ||||||||||||||
1,000 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Academy of Charter Schools Project, Series 2008, 5.625%, 5/01/40 |
5/18 at 100.00 | A | 1,009,030 | ||||||||||||||
500 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Parker Core Knowledge Charter School, Series 2010, 5.000%, 11/01/37 |
11/20 at 100.00 | A | 445,830 | ||||||||||||||
1,000 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc. High School Project, Series 2010, 5.000%, 12/01/29 |
12/19 at 100.00 | N/R | 1,010,700 | ||||||||||||||
1,000 | Colorado Educational and Cultural Facilities Authority, Independent School Revenue Refunding Bonds, Vail Mountain School Project, Series 2010, 6.125%, 5/01/40 |
5/20 at 100.00 | BBB | 971,650 | ||||||||||||||
Colorado Educational and Cultural Facilities Authority, School Revenue Bonds, Ave Maria School, Refunding Series 2007: |
||||||||||||||||||
220 | 4.750%, 12/01/14 RAAI Insured |
No Opt. Call | N/R | 229,744 | ||||||||||||||
230 | 4.750%, 12/01/15 RAAI Insured |
No Opt. Call | N/R | 240,417 | ||||||||||||||
250 | 4.850%, 12/01/25 RAAI Insured |
12/17 at 100.00 | N/R | 228,068 | ||||||||||||||
Colorado Educational and Cultural Facility Authority, Charter School Revenue Bonds, Cheyenne Mountain Charter Academy, Series 2007A: |
||||||||||||||||||
240 | 5.000%, 6/15/18 |
6/17 at 100.00 | A | 257,158 | ||||||||||||||
255 | 5.000%, 6/15/19 |
6/17 at 100.00 | A | 269,530 | ||||||||||||||
265 | 5.000%, 6/15/20 |
6/17 at 100.00 | A | 277,304 | ||||||||||||||
500 | 5.250%, 6/15/29 |
6/17 at 100.00 | A | 490,890 | ||||||||||||||
600 | Colorado Educational and Cultural Facility Authority, Charter School Revenue Bonds, Twin Peaks Charter Academy, Series 2011B, 7.500%, 3/15/35 |
3/21 at 100.00 | BBB | 628,026 | ||||||||||||||
University of Colorado, Enterprise System Revenue Bonds, Series 2009A: |
||||||||||||||||||
335 | 5.750%, 6/01/28 |
No Opt. Call | Aa2 | 383,434 | ||||||||||||||
500 | 5.375%, 6/01/32 |
No Opt. Call | Aa2 | 544,180 | ||||||||||||||
345 | University of Northern Colorado at Greeley, Institutional Enterprise System Revenue Refunding Bonds, Series 2011A, 5.000%, 6/01/30 |
6/21 at 100.00 | Aa2 | 371,306 | ||||||||||||||
1,000 | Western State College of Colorado Board of Trustees, Revenue Bonds, Series 2009, 5.000%, 5/15/34 |
5/19 at 100.00 | Aa2 | 1,040,450 | ||||||||||||||
10,580 | Total Education and Civic Organizations |
10,900,334 | ||||||||||||||||
Health Care 11.3% |
||||||||||||||||||
500 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.000%, 7/01/39 |
7/19 at 100.00 | AA | 499,220 | ||||||||||||||
400 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2008, 5.500%, 5/15/28 |
5/18 at 100.00 | BBB+ | 396,088 | ||||||||||||||
1,000 | Colorado Health Facilities Authority, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003A, 5.250%, 5/15/26 AGM Insured |
5/19 at 100.00 | AA+ | 1,061,750 | ||||||||||||||
Colorado Health Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 2008D: |
||||||||||||||||||
500 | 5.125%, 10/01/17 |
No Opt. Call | AA | 588,130 | ||||||||||||||
500 | 6.250%, 10/01/33 |
10/18 at 100.00 | AA | 548,105 | ||||||||||||||
325 | Colorado Health Facilities Authority, Revenue Bonds, Longmont United Hospital, Series 2007B, 4.625%, 12/01/24 RAAI Insured |
12/16 at 100.00 | Baa2 | 306,140 | ||||||||||||||
855 | Colorado Health Facilities Authority, Revenue Bonds, National Jewish Medical and Research Center, Series 1998, 5.375%, 1/01/16 |
11/11 at 100.00 | BBB+ | 855,718 | ||||||||||||||
750 | Colorado Springs, Colorado, Hospital Revenue Bonds, Refunding Series 2009, 6.250%, 12/15/33 |
12/19 at 100.00 | A | 806,070 |
Nuveen Investments | 1 |
Portfolio of Investments (Unaudited)
Nuveen Colorado Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 515 | Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010, 5.500%, 9/01/25 |
3/20 at 100.00 | BBB | $ | 507,842 | ||||||||||||
500 | Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Series 2002, 5.350%, 9/01/17 |
9/13 at 100.00 | BBB | 507,765 | ||||||||||||||
250 | Denver Health and Hospitals Authority, Colorado, Revenue Bonds, Refunding Series 2007A, 4.750%, 12/01/27 |
12/16 at 100.00 | BBB | 228,748 | ||||||||||||||
6,095 | Total Health Care |
6,305,576 | ||||||||||||||||
Housing/Multifamily 5.5% |
||||||||||||||||||
Colorado Educational and Cultural Facilities Authority, Student Housing Revenue Refunding Bonds Campus Village Apratments Project, Series 2008: |
||||||||||||||||||
810 | 5.000%, 6/01/22 |
8/18 at 100.00 | A | 874,897 | ||||||||||||||
50 | 5.500%, 6/01/38 |
8/18 at 100.00 | A | 50,026 | ||||||||||||||
Denver City & County Housing Authority, Colorado, Capital Fund Program Revenue Bonds, Three Tower Rehabilitation, Series 2007: |
||||||||||||||||||
1,500 | 4.550%, 11/01/17 AGM Insured (Alternative Minimum Tax) |
No Opt. Call | Aa3 | 1,588,065 | ||||||||||||||
500 | 5.200%, 11/01/27 AGM Insured (Alternative Minimum Tax) |
11/17 at 100.00 | Aa3 | 514,565 | ||||||||||||||
2,860 | Total Housing/Multifamily |
3,027,553 | ||||||||||||||||
Housing/Single Family 0.2% |
||||||||||||||||||
25 | Colorado Housing and Finance Authority, Single Family Program Senior Bonds, Series 2000E, 7.000%, 2/01/30 (Alternative Minimum Tax) |
11/11 at 105.00 | AA | 25,689 | ||||||||||||||
10 | Colorado Housing Finance Authority, Single Family Program Senior Bonds, Series 2000B-2, 7.100%, 4/01/17 (Alternative Minimum Tax) |
4/12 at 100.00 | AA | 10,377 | ||||||||||||||
95 | Colorado Housing Finance Authority, Single Family Program Senior Bonds, Series 2000B-4, 5.900%, 4/01/31 |
11/11 at 100.00 | AAA | 95,083 | ||||||||||||||
130 | Total Housing/Single Family |
131,149 | ||||||||||||||||
Industrials 0.5% |
||||||||||||||||||
250 | Colorado Housing and Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2004, 5.700%, 7/01/18 (Alternative Minimum Tax) |
No Opt. Call | BBB | 276,563 | ||||||||||||||
Long-Term Care 6.0% |
||||||||||||||||||
195 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan, Series 2000, 6.900%, 12/01/25 |
11/11 at 102.00 | A | 199,187 | ||||||||||||||
780 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A, 6.250%, 11/15/40 |
11/20 at 100.00 | N/R | 791,349 | ||||||||||||||
500 | Colorado Health Facilities Authority, Health and Residential Care Facilities Revenue Bonds, Volunteers of America Care Facilities Obligated Group Projects, Series 2007A, 5.000%, 7/01/15 |
7/14 at 101.00 | N/R | 492,780 | ||||||||||||||
Colorado Health Facilities Authority, Revenue Bonds, Christian Living Communities Project, Series 2006A: |
||||||||||||||||||
250 | 5.250%, 1/01/14 |
No Opt. Call | N/R | 250,308 | ||||||||||||||
100 | 5.750%, 1/01/26 |
1/17 at 100.00 | N/R | 93,995 | ||||||||||||||
350 | Colorado Health Facilities Authority, Revenue Bonds, Covenant Retirement Communities Inc., Series 2002B, 6.125%, 12/01/33 |
12/12 at 101.00 | BBB | 344,327 | ||||||||||||||
Colorado Health Facilities Authority, Revenue Bonds, Covenant Retirement Communities Inc., Series 2005: |
||||||||||||||||||
500 | 5.000%, 12/01/16 |
12/15 at 100.00 | BBB | 512,980 | ||||||||||||||
200 | 5.250%, 12/01/25 |
12/15 at 100.00 | BBB | 186,928 | ||||||||||||||
230 | Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2004A, 5.250%, 6/01/34 |
6/14 at 100.00 | A | 219,696 | ||||||||||||||
225 | Illinois Finance Authority, Revenue Bonds, Franciscan Communities Inc., Refunding Series 2007A, 5.500%, 5/15/37 |
5/17 at 100.00 | N/R | 172,350 |
2 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Long-Term Care (continued) |
||||||||||||||||||
$ | 100 | Illinois Finance Authority, Revenue Bonds, Three Crowns Park Plaza, Series 2006A, 5.875%, 2/15/26 |
2/16 at 100.00 | N/R | $ | 95,365 | ||||||||||||
3,430 | Total Long-Term Care |
3,359,265 | ||||||||||||||||
Tax Obligation/General 18.4% |
||||||||||||||||||
Adams and Arapahoe Counties Joint School District 28J, Aurora, Colorado, General Obligation Bonds, Series 2008: |
||||||||||||||||||
300 | 5.500%, 12/01/21 |
12/18 at 100.00 | Aa2 | 359,877 | ||||||||||||||
165 | 5.500%, 12/01/25 |
12/18 at 100.00 | Aa2 | 189,800 | ||||||||||||||
1,000 | Adams County School District 1, Mapleton Public Schools, Colorado, General Obligation Bonds, Series 2010, 6.250%, 12/01/35 |
12/20 at 100.00 | Aa2 | 1,156,960 | ||||||||||||||
1,000 | Denver City & County School District 1, Colorado, General Obligation Bonds, Series 2009A, 5.000%, 12/01/28 |
No Opt. Call | Aa2 | 1,101,350 | ||||||||||||||
Gunnison Watershed School District RE1J, Gunnison and Saguache Counties, Colorado, General Obligation Bonds, Series 2009: |
||||||||||||||||||
1,000 | 5.250%, 12/01/26 |
12/18 at 100.00 | Aa2 | 1,129,930 | ||||||||||||||
1,800 | 5.250%, 12/01/33 |
12/18 at 100.00 | Aa2 | 1,968,120 | ||||||||||||||
500 | Puerto Rico, General Obligation Bonds, Public Improvement Series 2008A, 5.500%, 7/01/18 |
No Opt. Call | Baa1 | 557,100 | ||||||||||||||
375 | Puerto Rico, General Obligation Bonds, Public Improvment Refunding Series 2008A, 5.250%, 7/01/26 |
7/18 at 100.00 | Baa1 | 379,804 | ||||||||||||||
250 | Puerto Rico, General Obligation Bonds, Refunding Series 2003C-7, 6.000%, 7/01/27 NPFG Insured |
7/18 at 100.00 | Baa1 | 262,458 | ||||||||||||||
250 | Rangely Hospital District, Rio Blanco County, Colorado, General Obligation Bonds, Refunding Series 2011, 4.500%, 11/01/21 |
No Opt. Call | Baa1 | 240,310 | ||||||||||||||
Rio Blanco County School District RE-001 Meeker, Colorado, General Obligation Bonds, Series 2008: |
||||||||||||||||||
500 | 5.250%, 12/01/22 |
12/18 at 100.00 | Aa2 | 572,860 | ||||||||||||||
150 | 5.250%, 12/01/24 |
12/18 at 100.00 | Aa2 | 168,305 | ||||||||||||||
2,000 | St. Vrain Valley School District RE-1J, Boulder, Larimer and Weld Counties, Colorado, General Obligation Bonds, Series 2009, 5.000%, 12/15/33 |
No Opt. Call | Aa2 | 2,144,200 | ||||||||||||||
9,290 | Total Tax Obligation/General |
10,231,074 | ||||||||||||||||
Tax Obligation/Limited 17.3% |
||||||||||||||||||
670 | Belle Creek Metropolitan District 1, Adams County, Colorado, General Obligation Refunding Bonds, Series 2011, 6.000%, 12/01/26 |
No Opt. Call | BBB+ | 724,491 | ||||||||||||||
Colorado State Higher Education Capital Construction Lease Purchase Financing Program Certificates of Participation, Series 2008: |
||||||||||||||||||
425 | 5.500%, 11/01/19 |
No Opt. Call | Aa2 | 495,214 | ||||||||||||||
1,255 | 5.500%, 11/01/27 |
No Opt. Call | Aa2 | 1,347,355 | ||||||||||||||
Eagle River Fire Protection District, Colorado, Certificates of Participation, Series 2010: |
||||||||||||||||||
225 | 6.125%, 12/01/19 |
No Opt. Call | N/R | 241,324 | ||||||||||||||
220 | 6.625%, 12/01/24 |
No Opt. Call | N/R | 231,697 | ||||||||||||||
400 | 6.875%, 12/01/30 |
12/19 at 100.00 | N/R | 412,884 | ||||||||||||||
835 | Garfield County Public Library District, Colorado, Certificates of Participation, Regional Lease Purchase Finanacing Program, Series 2009, 5.375%, 12/01/27 |
12/19 at 100.00 | A | 909,741 | ||||||||||||||
370 | High Plains Metropolitan District, Colorado, General Obligation Bonds, Series 2005B, 4.375%, 12/01/15 |
No Opt. Call | A | 381,603 | ||||||||||||||
340 | Lone Tree, Colorado, Sales & Use Tax Revenue Bonds, Recreation Projects Series 2008A, 5.000%, 12/01/20 |
12/18 at 100.00 | AA | 393,224 | ||||||||||||||
295 | North Range Metropolitan District 1, Adams County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2007, 4.250%, 12/15/18 ACA Insured |
12/16 at 100.00 | N/R | 254,290 |
Nuveen Investments | 3 |
Portfolio of Investments (Unaudited)
Nuveen Colorado Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
$ | 1,000 | Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 AGM Insured |
12/20 at 100.00 | AA+ | $ | 1,074,750 | ||||||||||||
Park Meadows Business Improvement District, Colorado, Sales Tax Revenue Bonds, Series 2007: |
||||||||||||||||||
225 | 5.000%, 12/01/17 |
No Opt. Call | N/R | 228,602 | ||||||||||||||
475 | 5.300%, 12/01/27 |
12/17 at 100.00 | N/R | 430,212 | ||||||||||||||
Pueblo County Capital Construction Corporation, Colorado, Certificates of Participation, Desert Hawk Golf Course At Pueblo West Project, Series 2005: |
||||||||||||||||||
210 | 4.400%, 12/01/16 |
12/15 at 100.00 | A | 227,044 | ||||||||||||||
200 | 5.000%, 12/01/24 |
12/15 at 100.00 | A | 206,628 | ||||||||||||||
500 | Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2007M, 5.500%, 7/01/35 AMBAC Insured |
No Opt. Call | Baa1 | 538,920 | ||||||||||||||
550 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42 |
8/19 at 100.00 | A+ | 582,252 | ||||||||||||||
1,000 | Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2010B, 5.000%, 12/01/40 |
12/20 at 100.00 | N/R | 918,770 | ||||||||||||||
9,195 | Total Tax Obligation/Limited |
9,599,001 | ||||||||||||||||
Transportation 8.9% |
||||||||||||||||||
1,000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2009A, 5.000%, 11/15/31 |
11/19 at 100.00 | A+ | 1,045,440 | ||||||||||||||
500 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004C, 5.000%, 9/01/17 NPFG Insured |
No Opt. Call | Baa1 | 530,870 | ||||||||||||||
300 | E-470 Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2007D-1, 5.500%, 9/01/24 NPFG Insured |
9/15 at 100.00 | Baa1 | 296,439 | ||||||||||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B: |
||||||||||||||||||
1,575 | 0.000%, 9/01/17 NPFG Insured |
No Opt. Call | Baa1 | 1,179,360 | ||||||||||||||
960 | 0.000%, 9/01/19 NPFG Insured |
No Opt. Call | Baa1 | 627,312 | ||||||||||||||
1,000 | 0.000%, 9/01/22 NPFG Insured |
No Opt. Call | Baa1 | 515,410 | ||||||||||||||
370 | Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Improvement Series 2006B, 5.250%, 5/01/20 (Alternative Minimum Tax) |
5/16 at 100.00 | N/R | 354,316 | ||||||||||||||
400 | Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A, 6.000%, 5/01/27 (Alternative Minimum Tax) |
5/21 at 100.00 | Baa2 | 407,656 | ||||||||||||||
6,105 | Total Transportation |
4,956,803 | ||||||||||||||||
U.S. Guaranteed 1.4% (4) |
||||||||||||||||||
65 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Bromley East Charter School, Series 2000A, 6.250%, 9/15/11 (ETM) |
No Opt. Call | BBB | (4) | 65,142 | |||||||||||||
100 | Colorado Health Facilities Authority, Revenue Bonds, PorterCare Adventist Health System, Series 2001, 6.500%, 11/15/23 (Pre-refunded 11/15/11) |
11/11 at 101.00 | A2 | (4) | 102,289 | |||||||||||||
465 | Colorado State Higher Education Capital Construction Lease Purchase Financing Program Certificates of Participation, Series 2008, 5.500%, 11/01/27 (Pre-refunded 11/01/18) |
11/18 at 100.00 | Aa2 | (4) | 579,757 | |||||||||||||
630 | Total U.S. Guaranteed |
747,188 | ||||||||||||||||
Utilities 5.8% |
||||||||||||||||||
1,255 | Arkansas River Power Authority, Colorado, Power Revenue Bonds, Improvement Series 2010, 6.125%, 10/01/40 |
10/20 at 100.00 | BBB | 1,254,925 | ||||||||||||||
225 | Arkansas River Power Authority, Colorado, Power Revenue Bonds, Improvement Series 2008, 6.000%, 10/01/40 |
10/18 at 100.00 | BBB | 224,372 | ||||||||||||||
1,200 | Colorado Springs, Colorado, Utility System Revenue Bonds, Improvement Series 2008C, 5.500%, 11/15/48 |
11/18 at 100.00 | AA | 1,291,327 |
4 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
$ | 425 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.250%, 11/15/28 |
No Opt. Call | A | $ | 439,204 | ||||||||||||
3,105 | Total Utilities |
3,209,828 | ||||||||||||||||
Water and Sewer 3.1% |
||||||||||||||||||
500 | Broomfield, Colorado, Water Activity Enterprise, Water Revenue Bonds, Series 2000, 5.500%, 12/01/17 NPFG Insured |
11/11 at 101.00 | Aa3 | 506,815 | ||||||||||||||
350 | Colorado Water Resources and Power Development Authority, Small Water Resources Program Revenue Bonds, City of Fountain, Colorado Utility Enterprise Project, Series 2011A, 5.000%, 9/01/36 AGM Insured |
9/21 at 100.00 | AA+ | 361,830 | ||||||||||||||
800 | Eagle River Water and Sanitation District, Eagle County, Colorado, Enterprise Water Revenue Bonds, Series 2009, 5.000%, 12/01/34 AGC Insured |
12/19 at 100.00 | AA+ | 843,328 | ||||||||||||||
1,650 | Total Water and Sewer |
1,711,973 | ||||||||||||||||
$ | 53,320 | Total Municipal Bonds (cost $51,895,496) |
54,456,307 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 1.1% |
||||||||||||||||||
Money Market Funds 1.1% |
||||||||||||||||||
627,389 | First American Tax Free Obligations Fund, Class Z, 0.002% (5) |
$ | 627,388 | |||||||||||||||
Total Short-Term Investments (cost $627,388) |
627,388 | |||||||||||||||||
Total Investments (cost $52,522,884) 99.1% |
55,083,695 | |||||||||||||||||
Other Assets Less Liabilities 0.9% |
523,141 | |||||||||||||||||
Net Assets 100% |
$ | 55,606,836 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 54,456,307 | $ | | $ | 54,456,307 | ||||||||
Short-Term Investments |
627,388 | | | 627,388 | ||||||||||||
Total |
$ | 627,388 | $ | 54,456,307 | $ | | $ | 55,083,695 |
Nuveen Investments | 5 |
Portfolio of Investments (Unaudited)
Nuveen Colorado Tax Free Fund (continued)
August 31, 2011
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $52,522,884.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 3,008,705 | ||
Depreciation |
(447,894 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 2,560,811 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
(ETM) | Escrowed to maturity. |
6 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 99.1% |
||||||||||||||||||
Education and Civic Organizations 21.0% |
||||||||||||||||||
Itasca County, Minnesota, Revenue Bonds, Charles K. Blandin Foundation, Series 2010: |
||||||||||||||||||
$ | 635 | 4.000%, 5/01/18 |
No Opt. Call | A3 | $ | 666,661 | ||||||||||||
255 | 4.000%, 5/01/19 |
No Opt. Call | A3 | 265,975 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, Blake School Project, Refunding Series 2010: |
||||||||||||||||||
550 | 4.000%, 9/01/19 |
No Opt. Call | A2 | 610,115 | ||||||||||||||
315 | 4.000%, 9/01/21 |
9/20 at 100.00 | A2 | 343,004 | ||||||||||||||
3,025 | Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 4.250%, 8/01/20 |
8/18 at 100.00 | BBB | 2,999,439 | ||||||||||||||
815 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Refunding Series 2010-7-G, 4.000%, 10/01/21 |
10/18 at 100.00 | Baa3 | 818,374 | ||||||||||||||
1,075 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Series 2005-6-C, 4.750%, 5/01/18 |
5/14 at 100.00 | Baa3 | 1,111,733 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Series 2006-J-1: |
||||||||||||||||||
320 | 5.000%, 5/01/13 |
No Opt. Call | Baa3 | 337,274 | ||||||||||||||
375 | 5.000%, 5/01/16 |
5/15 at 100.00 | Baa3 | 406,406 | ||||||||||||||
1,295 | 5.000%, 5/01/20 |
5/15 at 100.00 | Baa3 | 1,350,815 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: |
||||||||||||||||||
1,125 | 5.500%, 5/01/18 |
5/17 at 100.00 | N/R | 1,176,638 | ||||||||||||||
1,185 | 5.500%, 5/01/19 |
5/17 at 100.00 | N/R | 1,233,395 | ||||||||||||||
1,050 | 5.500%, 5/01/24 |
5/17 at 100.00 | N/R | 1,059,566 | ||||||||||||||
1,585 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Benedict, Series 2008-V, 4.500%, 3/01/17 |
No Opt. Call | Baa1 | 1,729,061 | ||||||||||||||
150 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2011-7J , 6.000%, 12/01/28 |
12/19 at 100.00 | Baa2 | 162,131 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Series 2007-6S: |
||||||||||||||||||
360 | 4.375%, 12/01/16 |
No Opt. Call | Baa2 | 386,219 | ||||||||||||||
380 | 4.500%, 12/01/17 |
No Opt. Call | Baa2 | 407,098 | ||||||||||||||
750 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Series 20107H, 5.125%, 12/01/30 |
12/19 at 100.00 | Baa2 | 761,025 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2010-7-B: |
||||||||||||||||||
1,500 | 5.000%, 10/01/18 |
No Opt. Call | A3 | 1,739,910 | ||||||||||||||
1,040 | 5.000%, 10/01/23 |
10/19 at 100.00 | A3 | 1,137,105 | ||||||||||||||
150 | 4.250%, 10/01/24 |
10/19 at 100.00 | A3 | 154,308 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University of Minnesota, Refunding Series 2010E: |
||||||||||||||||||
1,000 | 4.125%, 10/01/18 |
No Opt. Call | Baa2 | 1,056,370 | ||||||||||||||
1,370 | 4.375%, 10/01/20 |
No Opt. Call | Baa2 | 1,432,897 | ||||||||||||||
500 | 4.500%, 10/01/21 |
10/20 at 100.00 | Baa2 | 521,500 | ||||||||||||||
250 | 5.000%, 10/01/29 |
10/20 at 100.00 | Baa2 | 252,810 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University, Series 2011-7K1: |
||||||||||||||||||
1,000 | 4.250%, 10/01/18 |
No Opt. Call | Baa2 | 1,049,550 | ||||||||||||||
625 | 6.000%, 10/01/32 |
10/21 at 100.00 | Baa2 | 672,456 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Minneapolis College of Art and Design, Refunding Series 2006-6-K: |
||||||||||||||||||
310 | 5.000%, 5/01/13 |
No Opt. Call | Baa2 | 326,734 | ||||||||||||||
320 | 5.000%, 5/01/14 |
No Opt. Call | Baa2 | 345,555 | ||||||||||||||
340 | 5.000%, 5/01/15 |
No Opt. Call | Baa2 | 374,194 | ||||||||||||||
355 | 5.000%, 5/01/16 |
5/15 at 100.00 | Baa2 | 387,461 | ||||||||||||||
370 | 5.000%, 5/01/17 |
5/15 at 100.00 | Baa2 | 398,701 |
Nuveen Investments | 7 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Education and Civic Organizations (continued) |
||||||||||||||||||
$ | 500 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Olaf College, Refunding Series 2007-6O, 5.000%, 10/01/16 |
No Opt. Call | A1 | $ | 581,080 | ||||||||||||
500 | Minnesota Higher Education Facilities Authority, Revenue Bonds, St. Catherine College, Series 2002-5N1, 5.250%, 10/01/22 |
10/12 at 100.00 | Baa1 | 506,145 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of Saint Thomas, Series 2009-6X: |
||||||||||||||||||
500 | 4.500%, 4/01/21 |
4/17 at 100.00 | A2 | 537,295 | ||||||||||||||
1,250 | 5.000%, 4/01/24 |
4/17 at 100.00 | A2 | 1,338,613 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of Saint Thomas, Series 2009-7A: |
||||||||||||||||||
1,000 | 4.000%, 10/01/17 |
No Opt. Call | A2 | 1,114,490 | ||||||||||||||
1,000 | 4.500%, 10/01/18 |
No Opt. Call | A2 | 1,140,220 | ||||||||||||||
1,845 | 4.500%, 10/01/19 |
No Opt. Call | A2 | 2,094,001 | ||||||||||||||
1,045 | Minnesota Higher Education Facilities Authority, Revenue Bonds, University of St. Thomas, Series 2006-6I, 4.000%, 4/01/14 |
No Opt. Call | A2 | 1,120,167 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Saint Johns University Revenue Bonds, Series 2008-6U: |
||||||||||||||||||
290 | 4.200%, 10/01/19 |
10/18 at 100.00 | A2 | 318,556 | ||||||||||||||
385 | 4.300%, 10/01/20 |
10/18 at 100.00 | A2 | 418,895 | ||||||||||||||
145 | 4.500%, 10/01/22 |
10/18 at 100.00 | A2 | 156,049 | ||||||||||||||
Minnesota State Colleges and University, General Fund Revenue Bonds, Series 2009A: |
||||||||||||||||||
985 | 4.000%, 10/01/22 |
10/19 at 100.00 | Aa2 | 1,064,401 | ||||||||||||||
1,755 | 4.000%, 10/01/23 |
10/19 at 100.00 | Aa2 | 1,870,110 | ||||||||||||||
Minnesota State Colleges and University, General Fund Revenue Bonds, Series 2011A: |
||||||||||||||||||
1,415 | 4.250%, 10/01/24 |
10/21 at 100.00 | Aa2 | 1,529,091 | ||||||||||||||
750 | 4.375%, 10/01/25 |
10/21 at 100.00 | Aa2 | 807,975 | ||||||||||||||
870 | 4.500%, 10/01/26 |
10/21 at 100.00 | Aa2 | 937,608 | ||||||||||||||
Moorhead, Minnesota, Educational Facilities Revenue Bonds, The Concordia College Corporation Project, Series 2005A: |
||||||||||||||||||
500 | 4.100%, 12/15/14 |
No Opt. Call | A3 | 535,445 | ||||||||||||||
880 | 4.200%, 12/15/15 |
No Opt. Call | A3 | 957,282 | ||||||||||||||
925 | 4.300%, 12/15/16 |
12/15 at 100.00 | A3 | 1,000,906 | ||||||||||||||
1,005 | 5.000%, 12/15/18 |
12/15 at 100.00 | A3 | 1,087,852 | ||||||||||||||
1,060 | 5.000%, 12/15/19 |
12/15 at 100.00 | A3 | 1,135,854 | ||||||||||||||
2,395 | Saint Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Minnesota Public Radio Project, Refunding Series 2010, 5.000%, 12/01/25 |
12/20 at 100.00 | A2 | 2,577,547 | ||||||||||||||
1,000 | University of Minnesota, General Revenue Bonds, Series 2009C, 5.000%, 12/01/19 |
6/19 at 100.00 | Aa1 | 1,215,560 | ||||||||||||||
46,375 | Total Education and Civic Organizations |
49,719,622 | ||||||||||||||||
Health Care 23.7% |
||||||||||||||||||
735 | Aitkin, Minnesota Health Care Revenue Bonds, Riverwood Healthcare Center, Series 2006, 5.250%, 2/01/15 |
No Opt. Call | N/R | 719,705 | ||||||||||||||
Bemidji, Minnesota, Health Care Facilities First Mortgage Revenue Bonds, North Country Health Services, Refunding Series 2006: |
||||||||||||||||||
500 | 5.000%, 9/01/17 |
9/16 at 100.00 | BBB+ | 538,815 | ||||||||||||||
1,050 | 5.000%, 9/01/18 |
9/16 at 100.00 | BBB+ | 1,123,311 | ||||||||||||||
1,110 | 5.000%, 9/01/19 |
9/16 at 100.00 | BBB+ | 1,174,436 | ||||||||||||||
1,340 | Cuyuna Range Hospital District, Minnesota, Health Care Facilities Gross Revenue Bonds, Refunding Series 2007, 5.000%, 6/01/17 |
No Opt. Call | N/R | 1,353,226 | ||||||||||||||
Cuyuna Range Hospital District, Minnesota, Health Care Facilities Gross Revenue Bonds, Series 2005: |
||||||||||||||||||
425 | 5.000%, 6/01/16 |
6/13 at 101.00 | N/R | 429,305 | ||||||||||||||
1,320 | 5.000%, 6/01/19 |
6/13 at 101.00 | N/R | 1,311,539 |
8 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 400 | Fergus Falls, Minnesota, Health Care Facilities Revenue Bonds, Lake Region Healthcare Corporation Project, Series 2010, 4.750%, 8/01/25 |
8/17 at 100.00 | BBB | $ | 400,496 | ||||||||||||
Glencoe, Minnesota, Health Care Facilities Revenue Bonds, Glencoe Regional Health Services Project, Series 2005: |
||||||||||||||||||
500 | 5.000%, 4/01/13 |
No Opt. Call | BBB | 520,980 | ||||||||||||||
800 | 5.000%, 4/01/14 |
4/13 at 101.00 | BBB | 838,344 | ||||||||||||||
845 | 5.000%, 4/01/15 |
4/13 at 101.00 | BBB | 883,540 | ||||||||||||||
1,815 | 5.000%, 4/01/17 |
4/13 at 101.00 | BBB | 1,874,423 | ||||||||||||||
1,000 | Maple Grove, Minnesota, Health Care Facilities Revenue Bonds, Maple Grove Hospital Corporation, Series 2007, 5.000%, 5/01/17 |
No Opt. Call | Baa1 | 1,105,830 | ||||||||||||||
1,730 | Maple Grove, Minnesota, Health Care Facility Revenue Bonds, North Memorial Health Care, Series 2005, 4.500%, 9/01/17 |
9/15 at 100.00 | Baa1 | 1,814,286 | ||||||||||||||
1,155 | Marshall, Minnesota, Revenue Bonds, Avera Marshall Regional Medical Center, Series 2006, 4.750%, 11/01/20 |
11/15 at 100.00 | BBB+ | 1,324,080 | ||||||||||||||
1,000 | Meeker County, Minnesota, Gross Revenue Hospital Facilities Bonds, Meeker County Memorial Hospital Project, Series 2007, 5.625%, 11/01/22 |
11/17 at 100.00 | N/R | 1,012,110 | ||||||||||||||
4,000 | Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.375%, 11/15/23 |
11/18 at 100.00 | A | 4,556,600 | ||||||||||||||
1,000 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Childrens Health Care, Series 2010A, 5.250%, 8/15/25 |
8/20 at 100.00 | A+ | 1,097,160 | ||||||||||||||
1,000 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2008C-1, 5.500%, 2/15/25 AGC Insured |
2/20 at 100.00 | AA+ | 1,108,280 | ||||||||||||||
Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 1997A: |
||||||||||||||||||
305 | 5.500%, 11/15/17 NPFG Insured |
11/11 at 100.00 | A | 306,034 | ||||||||||||||
10 | 5.750%, 11/15/26 NPFG Insured |
11/11 at 100.00 | A | 10,008 | ||||||||||||||
2,320 | Monticello-Big Lake Community Hospital District, Minnesota, Gross Revenue Health Care Facilities Bonds, Series 2003C, 5.750%, 12/01/15 |
12/12 at 100.00 | N/R | 2,310,720 | ||||||||||||||
Northfield, Minnesota, Hospital Revenue Bonds, Refunding Series 2006: |
||||||||||||||||||
515 | 5.000%, 11/01/13 |
No Opt. Call | BBB | 542,038 | ||||||||||||||
920 | 5.000%, 11/01/14 |
No Opt. Call | BBB | 984,234 | ||||||||||||||
1,080 | 5.500%, 11/01/17 |
11/16 at 100.00 | BBB | 1,186,747 | ||||||||||||||
1,015 | Redwood Falls, Minnesota, Gross Revenue Hospital Facilities Bonds, Redwood Area Hospital Project, Series 2006, 5.000%, 12/01/21 |
12/16 at 100.00 | N/R | 1,013,315 | ||||||||||||||
1,140 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Series 2011, 4.500%, 11/15/38 (Mandatory put 11/15/21) |
No Opt. Call | AA | 1,282,283 | ||||||||||||||
1,000 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2010, 5.125%, 7/01/20 |
No Opt. Call | N/R | 1,060,800 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2008D, 5.375%, 5/01/31 AGC Insured |
5/19 at 100.00 | Aa3 | 1,057,800 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 4.250%, 5/01/21 |
5/20 at 100.00 | A2 | 1,053,850 | ||||||||||||||
2,500 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2008C, 5.625%, 7/01/26 |
7/18 at 100.00 | A | 2,593,700 | ||||||||||||||
1,300 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2009, 5.500%, 7/01/29 |
7/19 at 100.00 | A | 1,323,894 | ||||||||||||||
1,350 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facilities Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/19 |
11/16 at 100.00 | A3 | 1,439,087 | ||||||||||||||
3,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009-A1, 5.000%, 11/15/24 |
11/19 at 100.00 | AA | 3,174,540 |
Nuveen Investments | 9 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 1,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Childrens Specialty Healthcare Project, Series 2009, 5.000%, 2/01/19 |
No Opt. Call | A | $ | 1,094,270 | ||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Childrens Specialty Healthcare Project, Series 2010: |
||||||||||||||||||
1,560 | 5.000%, 2/01/19 |
2/14 at 100.00 | A | 1,618,828 | ||||||||||||||
500 | 5.000%, 2/01/20 |
2/14 at 100.00 | A | 516,365 | ||||||||||||||
1,785 | Shakopee, Minnesota, Health Care Facilities Revenue Bonds, Saint Francis Regional Medical Center, Series 2004, 5.000%, 9/01/17 |
9/14 at 100.00 | BBB | 1,891,797 | ||||||||||||||
St. Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2007A: |
||||||||||||||||||
500 | 5.000%, 11/15/15 NPFG Insured |
No Opt. Call | AA | 564,900 | ||||||||||||||
1,200 | 5.000%, 11/15/19 NPFG Insured |
11/17 at 100.00 | AA | 1,319,652 | ||||||||||||||
1,840 | St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005, 5.150%, 11/15/20 |
11/15 at 100.00 | BB+ | 1,786,051 | ||||||||||||||
St. Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005A: |
||||||||||||||||||
1,230 | 5.250%, 5/01/15 |
No Opt. Call | BB | 1,226,261 | ||||||||||||||
2,000 | 5.750%, 5/01/25 |
5/15 at 100.00 | BB | 1,942,740 | ||||||||||||||
525 | Winona Health Care Facilities Revenue Bonds, Minnesota, Winona Health Obligated Group, Series 2004A, 5.300%, 7/01/17 |
7/12 at 102.00 | BBB | 542,294 | ||||||||||||||
1,000 | Winona Health Care Facilities Revenue Refunding Bonds, Minnesota, Winona Health Obligated Group, Series 2007, 5.000%, 7/01/20 |
7/17 at 100.00 | BBB | 1,027,920 | ||||||||||||||
53,320 | Total Health Care |
56,056,594 | ||||||||||||||||
Housing/Multifamily 0.2% |
||||||||||||||||||
500 | Anoka Housing and Redevelopment Authority, Minnesota, Multifamily Housing Revenue Bonds, Woodland Park Apartments Project, Series 2011A, 5.000%, 4/01/27 |
4/19 at 100.00 | Aaa | 518,660 | ||||||||||||||
Housing/Single Family 1.0% |
||||||||||||||||||
1,170 | Dakota County Community Development Agency, Minnesota, Single Family Mortgage Revenue Bonds, Mortgage Backed Securities Program, Series 2011A, 4.400%, 12/01/26 |
12/20 at 100.00 | AA+ | 1,195,740 | ||||||||||||||
1,000 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011D, 4.375%, 7/01/26 |
7/21 at 100.00 | Aaa | 1,027,570 | ||||||||||||||
2,170 | Total Housing/Single Family |
2,223,310 | ||||||||||||||||
Long-Term Care 2.5% |
||||||||||||||||||
Minnesota Agricultural and Economic Development Board, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2002: |
||||||||||||||||||
200 | 5.500%, 2/01/12 |
No Opt. Call | A | 203,356 | ||||||||||||||
730 | 5.500%, 2/01/15 |
2/12 at 101.00 | A | 746,644 | ||||||||||||||
2,000 | Moorhead, Minnesota, Senior Housing Facility Revenue Bonds, Sheyenne Crossings Project, Series 2006, 5.600%, 4/01/25 |
4/14 at 101.00 | N/R | 1,868,840 | ||||||||||||||
2,000 | Saint Paul Port Authority, Minnesota, Revenue Bonds, Amherst H. Wilder Foundation Project, Series 2010-3, 5.000%, 12/01/24 |
12/20 at 100.00 | A1 | 2,156,300 | ||||||||||||||
885 | Worthington, Minnesota, Housing Revenue Refunding Bonds, Meadows of Worthington Project, Series 2007A, 5.000%, 11/01/17 |
11/14 at 101.00 | N/R | 850,874 | ||||||||||||||
5,815 | Total Long-Term Care |
5,826,014 | ||||||||||||||||
Materials 0.9% |
||||||||||||||||||
2,000 | Seaway Port Authority of Duluth, Minnesota, Industrial Development Dock and Wharf Revenue Refunding Bonds, Cargill, Inc Project, Series 2004, 4.200%, 5/01/13 |
No Opt. Call | A | 2,100,380 |
10 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General 17.8% |
||||||||||||||||||
$ | 610 | Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2007A, 4.100%, 2/01/18 |
2/15 at 100.00 | Aa1 | $ | 660,166 | ||||||||||||
500 | Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2007D, 5.000%, 2/01/24 |
2/17 at 100.00 | Aa1 | 550,165 | ||||||||||||||
1,000 | Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2008A, 5.000%, 2/01/20 |
2/18 at 100.00 | Aa1 | 1,168,970 | ||||||||||||||
Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2008C: |
||||||||||||||||||
285 | 4.100%, 2/01/18 |
No Opt. Call | Aa1 | 327,984 | ||||||||||||||
595 | 4.200%, 2/01/19 |
2/18 at 100.00 | Aa1 | 677,104 | ||||||||||||||
Bemidji, Minnesota, General Obligation Bonds, Refunding Sales Tax Series 2011: |
||||||||||||||||||
635 | 5.500%, 2/01/23 |
2/21 at 100.00 | Aa3 | 770,122 | ||||||||||||||
750 | 5.500%, 2/01/24 |
2/21 at 100.00 | Aa3 | 898,043 | ||||||||||||||
875 | 5.500%, 2/01/25 |
2/21 at 100.00 | Aa3 | 1,034,513 | ||||||||||||||
1,010 | 5.500%, 2/01/26 |
2/21 at 100.00 | Aa3 | 1,180,993 | ||||||||||||||
1,150 | 5.500%, 2/01/27 |
2/21 at 100.00 | Aa3 | 1,333,621 | ||||||||||||||
350 | Burnsville Independent School District 191, Dakota and Scott Counties, Minnesota, General Obligation Bonds, Series 2007A, 4.200%, 2/01/25 AGM Insured |
2/17 at 100.00 | Aa2 | 364,161 | ||||||||||||||
1,200 | Burnsville Independent School District 191, Dakota and Scott Counties, Minnesota, General Obligation Bonds, Series 2008A, 4.250%, 2/01/20 |
2/18 at 100.00 | Aa2 | 1,347,588 | ||||||||||||||
1,000 | Chaska Independent School District 112, Carver County, Minnesota, General Obligation Bonds, Series 2007A, 4.250%, 2/01/19 NPFG Insured |
2/17 at 100.00 | Aa2 | 1,120,130 | ||||||||||||||
450 | Chatfield Independent School District 227, Olmstead County, Minnesota, General Obligation Bonds, Series 2007A, 4.000%, 2/01/18 AGM Insured |
No Opt. Call | AAA | 515,133 | ||||||||||||||
Dakota County Community Agency, Minnesota, Governmental Housing Development General Obligation Bonds, Senior Housing Facilities, Series 2007A: |
||||||||||||||||||
510 | 4.375%, 1/01/19 |
7/17 at 100.00 | AAA | 571,440 | ||||||||||||||
215 | 4.500%, 1/01/20 |
7/17 at 100.00 | AAA | 239,000 | ||||||||||||||
1,150 | Duluth Independent School District 709, Saint Louis County, Minnesota, General Obligation Bonds, Series 2008A, 4.250%, 2/01/22 AGM Insured |
2/18 at 100.00 | Aa2 | 1,253,500 | ||||||||||||||
Duluth, Minnesota, General Obligation Bonds, DECC Improvement Series 2008A: |
||||||||||||||||||
1,160 | 4.500%, 2/01/21 |
2/18 at 100.00 | Aa2 | 1,289,247 | ||||||||||||||
465 | 4.500%, 2/01/22 |
2/18 at 100.00 | Aa2 | 510,207 | ||||||||||||||
1,100 | 4.625%, 2/01/24 |
2/18 at 100.00 | Aa2 | 1,185,679 | ||||||||||||||
455 | Greenway Independent School District 316, Itasca County, Minnesota, General Obligation Bonds, Alternate Facilities, Series 2011C, 4.250%, 2/01/25 |
2/19 at 100.00 | AAA | 478,997 | ||||||||||||||
Independent School Distirct 621, Mounds View, Minnesota, General Obligation Bonds, Crossover Refunding Series 2009A: |
||||||||||||||||||
625 | 3.250%, 2/01/17 |
No Opt. Call | Aa2 | 695,263 | ||||||||||||||
1,000 | 4.000%, 2/01/21 |
2/19 at 100.00 | Aa2 | 1,118,910 | ||||||||||||||
750 | 4.000%, 2/01/22 |
2/19 at 100.00 | Aa2 | 831,608 | ||||||||||||||
2,000 | Independent School District 833, South Washington County, Minnesota, General Obligation Bonds, Crossover Refunding School Building Series 2010A, 4.000%, 2/01/22 |
2/19 at 100.00 | AAA | 2,190,280 | ||||||||||||||
Mankato, Minnesota, General Obligation Bonds, Improvement Series 2009A: |
||||||||||||||||||
765 | 3.500%, 2/01/18 |
No Opt. Call | AA | 850,236 | ||||||||||||||
775 | 3.500%, 2/01/19 |
2/18 at 100.00 | AA | 847,455 | ||||||||||||||
1,135 | Minneapolis Special School District 1, Hennepin County, Minnesota, General Obligation Bonds, Series 2007, 4.000%, 2/01/18 |
2/15 at 100.00 | AAA | 1,228,955 | ||||||||||||||
1,000 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2007-2A, 5.125%, 6/01/22 (Alternative Minimum Tax) |
6/17 at 100.00 | A+ | 1,021,630 |
Nuveen Investments | 11 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
$ | 500 | Minnesota State, General Obligation Bonds, Refunding Series 2008C, 5.000%, 8/01/19 |
No Opt. Call | AAA | $ | 618,595 | ||||||||||||
1,180 | Osseo Independent School District 279 Hennepin County, Minnesota, General Obligation Bonds, Series 2010A, 4.000%, 2/01/21 |
8/18 at 100.00 | AAA | 1,301,788 | ||||||||||||||
620 | OtterTail County, Minnesota, General Obligation Bonds, Disposal System Prairie Lakes Municipal Authority, Series 2011, 4.750%, 5/01/27 (Alternative Minimum Tax) |
5/21 at 100.00 | AAA | 647,584 | ||||||||||||||
1,000 | Puerto Rico Government Development Bank, Senior Note Revenue Bonds, Senior Lien, Series 2006B, 5.000%, 12/01/14 |
No Opt. Call | Baa1 | 1,082,120 | ||||||||||||||
1,605 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 1998, 6.000%, 7/01/14 NPFG Insured |
No Opt. Call | Baa1 | 1,770,235 | ||||||||||||||
1,000 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/17 SYNCORA GTY Insured |
No Opt. Call | Baa1 | 1,116,950 | ||||||||||||||
1,000 | Puerto Rico, General Obligation Bonds, Public Improvement Refunding Series 2007A, 5.500%, 7/01/18 |
No Opt. Call | Baa1 | 1,114,200 | ||||||||||||||
575 | Puerto Rico, General Obligation Bonds, Public Improvement Series 2008A, 5.500%, 7/01/18 |
No Opt. Call | Baa1 | 640,665 | ||||||||||||||
520 | Ramsey County, Minnesota, General Obligation Bonds, Capital Improvement, Refunding Series 2010A, 4.000%, 2/01/18 |
No Opt. Call | AAA | 600,548 | ||||||||||||||
500 | Robbinsdale Independent School District, Hennepin County, Minnesota, General Obligation Bonds, Series 2008B, 4.500%, 2/01/21 |
2/18 at 100.00 | Aa2 | 561,995 | ||||||||||||||
1,140 | Rochester, Minnesota, General Obligation Waste Water Bonds, Series 2007A, 4.000%, 12/01/18 |
6/17 at 100.00 | AAA | 1,293,398 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, General Obligation Bonds, Library Sales Tax Series 2006B, 4.000%, 2/01/18 AGM Insured |
2/16 at 100.00 | AA+ | 1,103,470 | ||||||||||||||
Saint Peter, Minnesota, General Obligation Bonds, Hospital Crossover, Refunding Series 2010A: |
||||||||||||||||||
550 | 3.000%, 9/01/18 AGM Insured |
No Opt. Call | AA+ | 572,770 | ||||||||||||||
515 | 3.150%, 9/01/19 AGM Insured |
No Opt. Call | AA+ | 535,909 | ||||||||||||||
585 | 3.300%, 9/01/20 AGM Insured |
9/19 at 100.00 | AA+ | 604,603 | ||||||||||||||
400 | Todd, Morrison, Cass and Wadena Counties United Hospital District, Minnesota, General Obligation Bonds, Lakewood Health System, Series 2004, 4.000%, 12/01/13 |
No Opt. Call | A2 | 429,012 | ||||||||||||||
Wadena-Deer Creek Independent School District2155, Wadena, Otter Tail, and Todd Counties, Minnesota, General Obligation bonds, Series 2010: |
||||||||||||||||||
430 | 4.000%, 2/01/18 |
2/17 at 100.00 | AAA | 483,053 | ||||||||||||||
410 | 4.000%, 2/01/19 |
2/17 at 100.00 | AAA | 454,272 | ||||||||||||||
640 | Wright County, Minnesota, General Obligation Bonds, Jail Series 2007A, 4.500%, 12/01/20 |
12/17 at 100.00 | AAA | 725,696 | ||||||||||||||
200 | Zumbrota-Mazeppa Independent School District 2805, Wabasha County, Minnesota, General Obligation Bonds, Alternate Facilities Series 2008A, 4.000%, 2/01/19 |
2/18 at 100.00 | AAA | 225,192 | ||||||||||||||
37,885 | Total Tax Obligation/General |
42,143,155 | ||||||||||||||||
Tax Obligation/Limited 7.5% |
||||||||||||||||||
1,890 | Duluth Independent School District 709, Minnesota, Certificates of Participation, Series 2008B, 4.000%, 2/01/19 |
No Opt. Call | AAA | 2,155,621 | ||||||||||||||
Hennepin County, Minnesota, Sales Tax Revenue Bonds, Ballpark Project, Second Lien Series 2008B: |
||||||||||||||||||
555 | 4.375%, 12/15/22 |
12/17 at 100.00 | AA+ | 606,032 | ||||||||||||||
1,000 | 5.000%, 12/15/29 |
No Opt. Call | AA+ | 1,075,490 | ||||||||||||||
Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2006-1A: |
||||||||||||||||||
480 | 4.550%, 12/01/13 (Alternative Minimum Tax) |
No Opt. Call | A+ | 507,667 | ||||||||||||||
505 | 4.625%, 12/01/14 (Alternative Minimum Tax) |
No Opt. Call | A+ | 543,951 |
12 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
$ | 2,000 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2010-2A, 4.625%, 12/01/20 |
No Opt. Call | A+ | $ | 2,153,280 | ||||||||||||
1,000 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Grant Park Project, Series 2006, 5.200%, 2/01/22 |
2/14 at 100.00 | N/R | 932,620 | ||||||||||||||
1,040 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2004, 5.000%, 2/01/17 |
3/12 at 102.00 | N/R | 1,030,245 | ||||||||||||||
570 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2005, 5.300%, 2/01/21 |
2/14 at 100.00 | N/R | 539,226 | ||||||||||||||
1,185 | Minnesota Housing Finance Agency, Nonprofit Housing Bonds, State Appropriation Series 2011, 5.250%, 8/01/27 |
8/21 at 100.00 | AA+ | 1,287,029 | ||||||||||||||
1,000 | Northeast Metropolitan Intermediate School District 916, White Bear Lake, Minnesota, Certificates of Particpation, Series 2004, 4.250%, 1/01/15 |
1/14 at 100.00 | A2 | 1,062,210 | ||||||||||||||
Pine County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2005A: |
||||||||||||||||||
465 | 4.500%, 2/01/16 |
No Opt. Call | BBB+ | 506,906 | ||||||||||||||
385 | 4.500%, 2/01/17 |
2/16 at 100.00 | BBB+ | 414,660 | ||||||||||||||
885 | Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1993X, 5.500%, 7/01/13 NPFG Insured |
No Opt. Call | A3 | 927,878 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Recreational Faility Lease Revenue Bonds, Jimmy Lee Recreational Center, Series 2008: |
||||||||||||||||||
180 | 4.500%, 12/01/19 |
12/17 at 100.00 | AA+ | 199,222 | ||||||||||||||
290 | 4.500%, 12/01/20 |
12/17 at 100.00 | AA+ | 316,599 | ||||||||||||||
2,415 | St. Paul Port Authority, Minnesota, Lease Revenue Bonds, Building at Cedar Street, Series 2002, 5.000%, 12/01/19 |
12/12 at 100.00 | AA+ | 2,519,014 | ||||||||||||||
Stevens County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2009A: |
||||||||||||||||||
315 | 4.000%, 2/01/18 |
No Opt. Call | A+ | 343,451 | ||||||||||||||
325 | 4.000%, 2/01/19 |
No Opt. Call | A+ | 351,153 | ||||||||||||||
340 | 4.100%, 2/01/20 |
No Opt. Call | A+ | 366,972 | ||||||||||||||
16,825 | Total Tax Obligation/Limited |
17,839,226 | ||||||||||||||||
Transportation 4.9% |
||||||||||||||||||
Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009A: |
||||||||||||||||||
1,000 | 4.000%, 1/01/19 |
No Opt. Call | AA | 1,101,670 | ||||||||||||||
1,000 | 5.000%, 1/01/20 |
1/19 at 100.00 | AA | 1,156,740 | ||||||||||||||
500 | 5.000%, 1/01/21 |
1/19 at 100.00 | AA | 570,845 | ||||||||||||||
Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Series 2003A: |
||||||||||||||||||
1,000 | 5.000%, 1/01/19 NPFG Insured |
1/13 at 100.00 | A | 1,036,030 | ||||||||||||||
2,200 | 5.000%, 1/01/20 NPFG Insured |
1/13 at 100.00 | A | 2,251,634 | ||||||||||||||
2,125 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien Series 2005B, 5.000%, 1/01/20 AMBAC Insured (Alternative Minimum Tax) |
1/15 at 100.00 | A | 2,213,485 | ||||||||||||||
St Paul Housing and Redevelopment Authority, Minnesota, Parking Revenue Bonds, Parking Facilities Project, Refunding Series 2010A: |
||||||||||||||||||
805 | 4.000%, 8/01/21 |
8/18 at 102.00 | A+ | 854,016 | ||||||||||||||
895 | 4.125%, 8/01/23 |
8/18 at 102.00 | A+ | 927,292 | ||||||||||||||
935 | 4.250%, 8/01/24 |
8/18 at 102.00 | A+ | 963,686 | ||||||||||||||
575 | 4.250%, 8/01/25 |
8/18 at 102.00 | A+ | 587,190 | ||||||||||||||
11,035 | Total Transportation |
11,662,588 | ||||||||||||||||
U.S. Guaranteed 9.8% (4) |
||||||||||||||||||
Andover Economic Development Authority, Minnesota, Public Facility Lease Revenue Bonds, Andover Community Center, Series 2004: |
||||||||||||||||||
730 | 5.000%, 2/01/19 (Pre-refunded 2/01/14) |
2/14 at 100.00 | AA | (4) | 789,342 | |||||||||||||
495 | 5.000%, 2/01/19 (Pre-refunded 2/01/14) |
2/14 at 100.00 | AA | (4) | 535,239 |
Nuveen Investments | 13 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
U.S. Guaranteed (4) (continued) |
||||||||||||||||||
$ | 2,045 | Duluth Economic Development Authority, Minnesota, Healthcare Facilities Revenue Bonds, Benedictine Health System St. Marys Duluth Clinic, Series 2004, 5.375%, 2/15/22 (Pre-refunded 2/15/14) |
2/14 at 100.00 | N/R | (4) | $ | 2,292,977 | |||||||||||
Independent School District 621, Mounds View, Minnesota, General Obligation Bonds, Series 2001A: |
||||||||||||||||||
2,340 | 5.000%, 2/01/18 (Pre-refunded 2/01/12) NPFG Insured |
2/12 at 100.00 | Aa2 | (4) | 2,386,894 | |||||||||||||
2,565 | 5.000%, 2/01/19 (Pre-refunded 2/01/12) |
2/12 at 100.00 | Aa2 | (4) | 2,616,403 | |||||||||||||
1,030 | Independent School District 833, South Washington County, Minnesota, General Obligation Bonds, Series 2001B, 5.000%, 2/01/15 (Pre-refunded 2/01/12) AGM Insured |
2/12 at 100.00 | Aa1 | (4) | 1,046,768 | |||||||||||||
1,260 | Lakeville Independent School District 194, Dakota County, Minnesota, General Obligation Bonds, Series 2002A, 5.000%, 2/01/22 (Pre-refunded 2/01/13) FGIC Insured |
2/13 at 100.00 | Aa2 | (4) | 1,329,678 | |||||||||||||
345 | Marshall, Minnesota, Revenue Bonds, Avera Marshall Regional Medical Center, Series 2006, 4.500%, 11/01/13 (ETM) |
No Opt. Call | N/R | (4) | 371,417 | |||||||||||||
445 | Minneapolis, Minnesota, Blake School Project, Series 2001, 5.000%, 9/01/12 (Pre-refunded 9/01/11) |
9/11 at 100.00 | Aa2 | (4) | 445,000 | |||||||||||||
Minneapolis, Minnesota, Health Care System Revenue Bonds, Allina Health System, Series 2002A: |
||||||||||||||||||
2,500 | 6.000%, 11/15/23 (Pre-refunded 11/15/12) |
11/12 at 100.00 | AA+ | (4) | 2,672,275 | |||||||||||||
1,300 | 5.750%, 11/15/32 (Pre-refunded 11/15/12) |
11/12 at 100.00 | AA+ | (4) | 1,385,683 | |||||||||||||
605 | Minneapolis, Minnesota, Health Care System Revenue Bonds,S Fairview Health Services, Series 2002A, 5.000%, 5/15/12 (ETM) |
No Opt. Call | A | (4) | 625,667 | |||||||||||||
Moorhead Independent School District 152, Clay County, Minnesota, General Obligation Bonds, Series 2002: |
||||||||||||||||||
3,450 | 5.000%, 4/01/15 (Pre-refunded 4/01/12) FGIC Insured |
4/12 at 100.00 | Aa2 | (4) | 3,532,800 | |||||||||||||
2,510 | 5.000%, 4/01/16 (Pre-refunded 4/01/12) FGIC Insured |
4/12 at 100.00 | Aa2 | (4) | 2,570,240 | |||||||||||||
500 | Pequot Lakes Independent School District 186, Minnesota, General Obligation Bonds, Series 2002, 5.125%, 2/01/18 (Pre-refunded 2/01/12) FGIC Insured |
2/12 at 100.00 | AAA | 509,010 | ||||||||||||||
22,120 | Total U.S. Guaranteed |
23,109,393 | ||||||||||||||||
Utilities 9.6% |
||||||||||||||||||
1,000 | Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Refunding Series 2005A, 4.200%, 10/01/15 |
No Opt. Call | A3 | 1,109,610 | ||||||||||||||
2,230 | Cohasset, Minnesota, Pollution Control Revenue Bonds, Allete Inc., Series 2004, 4.950%, 7/01/22 RAAI Insured |
7/14 at 100.00 | A2 | 2,308,117 | ||||||||||||||
500 | Litchfield, Minnesota, Electric Utility Revenue Bonds, Series 2009C, 5.000%, 2/01/29 AGC Insured |
2/18 at 100.00 | AA+ | 530,210 | ||||||||||||||
Marshall, Minnesota, Public Utility Revenue Bonds, Series 2009A: |
||||||||||||||||||
315 | 3.500%, 7/01/16 AGC Insured |
No Opt. Call | AA+ | 343,725 | ||||||||||||||
275 | 3.500%, 7/01/17 AGC Insured |
No Opt. Call | AA+ | 300,295 | ||||||||||||||
340 | 3.750%, 7/01/18 AGC Insured |
No Opt. Call | AA+ | 372,378 | ||||||||||||||
Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2007: |
||||||||||||||||||
420 | 4.125%, 10/01/17 |
No Opt. Call | A3 | 466,880 | ||||||||||||||
1,000 | 5.250%, 10/01/22 |
10/17 at 100.00 | A3 | 1,111,190 | ||||||||||||||
Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2007A: |
||||||||||||||||||
380 | 5.000%, 1/01/13 AMBAC Insured |
No Opt. Call | A2 | 401,618 | ||||||||||||||
460 | 5.000%, 1/01/17 AMBAC Insured |
No Opt. Call | A2 | 535,417 | ||||||||||||||
1,000 | 5.000%, 1/01/19 AGC Insured |
1/18 at 100.00 | AA+ | 1,158,570 | ||||||||||||||
2,000 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2008A, 5.000%, 1/01/21 AGC Insured |
No Opt. Call | AA+ | 2,256,760 | ||||||||||||||
2,830 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2010A-1, 5.000%, 1/01/20 |
No Opt. Call | A2 | 3,268,169 |
14 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
$ | 295 | Shakopee Public Utilities Commission, Minnesota, Public Utilities Crossover Refunding Revenue Bonds, Series 2006A, 4.250%, 2/01/18 AGM Insured |
2/15 at 100.00 | Aa3 | $ | 317,450 | ||||||||||||
Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 1994A: |
||||||||||||||||||
3,500 | 0.000%, 1/01/20 NPFG Insured |
No Opt. Call | A+ | 2,604,035 | ||||||||||||||
5,000 | 0.000%, 1/01/21 NPFG Insured |
No Opt. Call | A+ | 3,534,900 | ||||||||||||||
2,000 | Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 2002A, 5.250%, 1/01/14 AMBAC Insured |
No Opt. Call | A+ | 2,194,789 | ||||||||||||||
23,545 | Total Utilities |
22,814,113 | ||||||||||||||||
Water and Sewer 0.2% |
||||||||||||||||||
500 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/16 AGC Insured |
No Opt. Call | AA+ | 564,215 | ||||||||||||||
$ | 222,090 | Total Municipal Bonds (cost $220,561,811) |
234,577,270 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 0.1% |
||||||||||||||||||
Money Market Funds 0.1% |
||||||||||||||||||
229,134 | Federated Minnesota Municipal Cash Trust, 0.010% (5) |
$ | 229,135 | |||||||||||||||
Total Short-Term Investments (cost $229,135) |
229,135 | |||||||||||||||||
Total Investments (cost $220,790,946) 99.2% |
234,806,405 | |||||||||||||||||
Other Assets Less Liabilities 0.8% |
1,951,946 | |||||||||||||||||
Net Assets 100% |
$ | 236,758,351 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 234,577,270 | $ | | $ | 234,577,270 | ||||||||
Short-Term Investments |
229,135 | | | 229,135 | ||||||||||||
Total |
$ | 229,135 | $ | 234,577,270 | $ | | $ | 234,806,405 |
Nuveen Investments | 15 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
August 31, 2011
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $220,790,946.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 14,425,015 | ||
Depreciation |
(409,556 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 14,015,459 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
(ETM) | Escrowed to maturity. |
16 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Municipal Bond Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.9% |
||||||||||||||||||
Consumer Staples 1.1% |
||||||||||||||||||
$ | 1,800 | Moorhead, Minnesota, Recovery Zone Facility Revenue Bonds, American Crystal Sugar Company Project, Series 2010, 5.650%, 6/01/27 |
7/20 at 100.00 | BBB+ | $ | 1,851,102 | ||||||||||||
Education and Civic Organizations 15.3% |
||||||||||||||||||
1,500 | Baytown Township, Minnesota, Lease Revenue Bonds, Saint Croix Preparatory Academy Project, Series 2008A, 7.000%, 8/01/38 |
8/16 at 102.00 | N/R | 1,483,755 | ||||||||||||||
1,750 | Duluth Housing & Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A, 5.600%, 11/01/30 |
11/18 at 102.00 | BBB | 1,600,078 | ||||||||||||||
4,000 | Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 4.875%, 8/01/25 |
8/18 at 100.00 | BBB | 3,800,320 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: |
||||||||||||||||||
1,725 | 5.500%, 5/01/26 |
5/17 at 100.00 | N/R | 1,732,349 | ||||||||||||||
820 | 5.500%, 5/01/27 |
5/17 at 100.00 | N/R | 821,509 | ||||||||||||||
1,500 | 5.500%, 5/01/37 |
5/17 at 100.00 | N/R | 1,444,035 | ||||||||||||||
1,835 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2011-7J , 6.300%, 12/01/40 |
12/19 at 100.00 | Baa2 | 1,951,633 | ||||||||||||||
1,000 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2010-7-B, 5.000%, 10/01/31 |
10/19 at 100.00 | A3 | 1,040,750 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University, Series 2011-7K1: |
||||||||||||||||||
625 | 6.000%, 10/01/32 |
10/21 at 100.00 | Baa2 | 672,456 | ||||||||||||||
2,000 | 6.000%, 10/01/40 |
10/21 at 100.00 | Baa2 | 2,101,780 | ||||||||||||||
30 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Minneapolis College of Art and Design, Refunding Series 2006-6-K, 5.000%, 5/01/26 |
5/15 at 100.00 | Baa2 | 30,500 | ||||||||||||||
155 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Vermillion Community College, Series 1993-3-T, 6.000%, 1/01/13 |
1/12 at 100.00 | N/R | 156,321 | ||||||||||||||
1,885 | Moorhead, Minnesota, Golf Course Revneue Refunding Bonds, Series 1998B, 5.875%, 12/01/21 |
11/11 at 100.00 | N/R | 1,851,409 | ||||||||||||||
2,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Educational Facility Revenue Refunding Bonds, Saint Paul Academy and Summit School Project, Series 2007, 5.000%, 10/01/24 |
10/17 at 100.00 | A3 | 2,139,280 | ||||||||||||||
2,550 | Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Community of Peace Academy Project, Series 2006A, 5.000%, 12/01/36 |
12/15 at 100.00 | BBB | 2,014,883 | ||||||||||||||
1,540 | University of Minnesota, General Revenue Bonds, Series 2011A, 5.250%, 12/01/29 |
12/20 at 100.00 | Aa1 | 1,757,186 | ||||||||||||||
24,915 | Total Education and Civic Organizations |
24,598,244 | ||||||||||||||||
Health Care 23.1% |
||||||||||||||||||
2,470 | Chippewa County, Minnesota, Gross Revenue Hospital Bonds, Montevideo Hospital Project, Series 2007, 5.500%, 3/01/37 |
3/17 at 100.00 | N/R | 2,315,872 | ||||||||||||||
2,000 | Glencoe, Minnesota, Health Care Facilities Revenue Bonds, Glencoe Regional Health Services Project, Series 2005, 5.000%, 4/01/31 |
4/12 at 101.00 | BBB | 1,903,940 | ||||||||||||||
2,500 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010B, 5.750%, 7/01/40 |
7/20 at 100.00 | A3 | 2,431,225 | ||||||||||||||
Maple Grove, Minnesota, Health Care Facilities Revenue Bonds, Maple Grove Hospital Corporation, Series 2007: |
||||||||||||||||||
1,500 | 4.500%, 5/01/23 |
5/17 at 100.00 | Baa1 | 1,503,645 | ||||||||||||||
1,000 | 5.250%, 5/01/25 |
5/17 at 100.00 | Baa1 | 1,019,740 | ||||||||||||||
3,000 | Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.625%, 11/15/28 |
11/18 at 100.00 | A | 3,327,990 | ||||||||||||||
2,275 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Childrens Health Care, Series 2010A, 5.250%, 8/15/35 |
8/20 at 100.00 | A+ | 2,372,302 |
Nuveen Investments | 17 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 1,000 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2008C-1, 5.000%, 2/15/30 AGC Insured |
2/20 at 100.00 | AA+ | $ | 1,036,600 | ||||||||||||
125 | Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2000A, 6.375%, 11/15/29 |
11/11 at 100.00 | A | 125,271 | ||||||||||||||
1,000 | Monticello-Big Lake Community Hospital District, Minnesota, Gross Revenue Health Care Facilities Bonds, Series 2003C, 6.200%, 12/01/22 |
12/12 at 100.00 | N/R | 978,530 | ||||||||||||||
1,700 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2010, 5.875%, 7/01/30 |
7/20 at 100.00 | N/R | 1,723,205 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 5.125%, 5/01/30 |
5/20 at 100.00 | A2 | 1,034,220 | ||||||||||||||
1,000 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2008C, 5.750%, 7/01/30 |
7/18 at 100.00 | A | 1,032,370 | ||||||||||||||
2,000 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2009, 5.750%, 7/01/39 |
7/19 at 100.00 | A | 2,022,420 | ||||||||||||||
2,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facilities Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/36 |
11/16 at 100.00 | A3 | 1,906,760 | ||||||||||||||
3,050 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009-A1, 5.250%, 11/15/29 |
11/19 at 100.00 | AA | 3,152,419 | ||||||||||||||
2,060 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Childrens Specialty Healthcare Project, Series 2009, 5.000%, 2/01/29 |
2/19 at 100.00 | A | 2,073,864 | ||||||||||||||
1,375 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/36 |
8/16 at 100.00 | N/R | 1,229,250 | ||||||||||||||
2,000 | Shakopee, Minnesota, Health Care Facilities Revenue Bonds, Saint Francis Regional Medical Center, Series 2004, 5.250%, 9/01/34 |
9/14 at 100.00 | BBB | 1,976,320 | ||||||||||||||
500 | St. Paul Housing and Redevelopment Authority, Minnesota, Healthcare Revenue Bonds, Regions Hospital, Series 1998, 5.250%, 5/15/18 |
11/11 at 100.00 | A3 | 500,675 | ||||||||||||||
800 | St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005, 6.000%, 11/15/30 |
11/15 at 100.00 | BB+ | 782,096 | ||||||||||||||
900 | St. Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005A, 5.875%, 5/01/30 |
5/15 at 100.00 | BB | 846,990 | ||||||||||||||
1,800 | St. Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005B, 6.000%, 5/01/30 |
5/15 at 100.00 | N/R | 1,718,262 | ||||||||||||||
37,055 | Total Health Care |
37,013,966 | ||||||||||||||||
Housing/Multifamily 3.8% |
||||||||||||||||||
1,980 | Dakota County Community Development Agency, Minnesota, GNMA Collateralized Mortgage Loan Multifamily Housing Revenue Bonds, Ebenezer Project, Series 2000, 5.900%, 4/20/42 |
10/11 at 100.00 | Aaa | 2,015,680 | ||||||||||||||
2,000 | Maplewood, Minnesota, Mutifamily Housing Revenue Refunding Bonds, Carefree Cottages of Maplewood III Project, Series 2004, 4.800%, 4/15/34 (Mandatory put 4/15/19) (Alternative Minimum Tax) |
4/14 at 100.00 | Aaa | 2,038,120 | ||||||||||||||
865 | Minneapolis, Minnesota, GNMA Collateralized Multifamily Housing Revenue Bonds, Vantage Flats Project, Series 2007, 5.200%, 10/20/48 (Alternative Minimum Tax) |
10/15 at 100.00 | Aaa | 866,730 | ||||||||||||||
1,350 | Minneapolis, Minnesota, Multifamily Housing Revenue Bonds, Keeler Apartments, Series 2007A, 5.000%, 10/01/37 |
10/15 at 102.00 | N/R | 1,123,605 | ||||||||||||||
6,195 | Total Housing/Multifamily |
6,044,135 | ||||||||||||||||
Housing/Single Family 3.2% |
||||||||||||||||||
568 | Minneapolis-Saint Paul Housing Finance Board, Minnesota, Single Family Mortgage Revenue Bonds, City Living Series 2006 A4, 5.000%, 11/01/38 (Alternative Minimum Tax) |
7/16 at 100.00 | AA+ | 566,902 |
18 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Single Family (continued) |
||||||||||||||||||
$ | 750 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011D, 4.700%, 1/01/31 |
7/21 at 100.00 | Aaa | $ | 767,760 | ||||||||||||
350 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2002B, 5.650%, 7/01/33 (Alternative Minimum Tax) |
11/11 at 100.00 | AA+ | 350,161 | ||||||||||||||
3,465 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007D, 4.700%, 7/01/27 (Alternative Minimum Tax) |
7/16 at 100.00 | AA+ | 3,424,771 | ||||||||||||||
5,133 | Total Housing/Single Family |
5,109,594 | ||||||||||||||||
Industrials 0.5% |
||||||||||||||||||
340 | Little Canada, Minnesota, Commercial Development Revenue Refunding Bonds, RLF Minnesota Project, Series 1993, 7.100%, 4/01/13 |
4/12 at 100.00 | N/R | 340,449 | ||||||||||||||
500 | Minnesota Agricultural and Economic Development Board, Small Business Development Loan Program Revenue Bonds, Refunding Series 2002A-1, 5.550%, 8/01/16 (Alternative Minimum Tax) |
11/11 at 100.00 | N/R | 497,935 | ||||||||||||||
840 | Total Industrials |
838,384 | ||||||||||||||||
Long-Term Care 6.6% |
||||||||||||||||||
1,500 | Anoka County Housing and Redevelopment Authority, Minnesota, Health Care Facility Care Center Project, Series 2010D, 6.750%, 11/01/36 |
11/15 at 102.00 | N/R | 1,477,515 | ||||||||||||||
850 | Cottage Grove, Minnesota, Senior Housing Revenue Bonds, PHS/Cottage Grove, Inc., Project, Series 2006A, 5.000%, 12/01/31 |
12/14 at 100.00 | N/R | 729,683 | ||||||||||||||
1,450 | Golden Valley, Minnesota, Revenue Bonds, Covenant Retirement Communities, Inc., Series 1999A, 5.500%, 12/01/29 |
12/11 at 100.00 | BBB+ | 1,376,253 | ||||||||||||||
1,620 | Moorhead, Minnesota, Senior Housing Facility Revenue Bonds, Sheyenne Crossings Project, Series 2006, 5.650%, 4/01/41 |
4/14 at 101.00 | N/R | 1,365,158 | ||||||||||||||
1,600 | New Hope, Minnesota, Housing and Health Care Facilities Revenue Bonds, Minnesota Masonic Home North Ridge Project, Series 1999, 5.750%, 3/01/15 |
11/11 at 100.00 | N/R | 1,562,720 | ||||||||||||||
1,100 | Rochester, Minnesota, Health Care and Housing Revenue Refunding Bonds, Samaritan Bethany, Inc. Project, Series 2009A, 7.375%, 12/01/41 |
12/19 at 100.00 | N/R | 1,117,787 | ||||||||||||||
1,100 | Saint Paul Housing & Redevelopment Authority, Minnesota, Revenue Bonds, Rossy & Richard Shaller Family Sholom East Campus, Series 2007A, 5.250%, 10/01/42 |
10/17 at 100.00 | N/R | 893,783 | ||||||||||||||
2,190 | Saint Paul Housing and Redevelopment Authority, Minnesota, Nursing Home Revneue Bonds, Episcopal Homes of Minnesota, Series 2006, 5.630%, 10/01/33 |
No Opt. Call | N/R | 1,996,530 | ||||||||||||||
11,410 | Total Long-Term Care |
10,519,429 | ||||||||||||||||
Materials 0.7% |
||||||||||||||||||
1,130 | Seaway Port Authority of Duluth, Minnesota, Industrial Development Dock and Wharf Revenue Refunding Bonds, Cargill, Inc Project, Series 2004, 4.200%, 5/01/13 |
No Opt. Call | A | 1,186,715 | ||||||||||||||
Tax Obligation/General 10.0% |
||||||||||||||||||
10,000 | Bemidji, Minnesota, General Obligation Bonds, Refunding Sales Tax Series 2011, 6.000%, 2/01/41 |
2/21 at 100.00 | Aa3 | 11,766,500 | ||||||||||||||
1,430 | Burnsville Independent School District 191, Dakota and Scott Counties, Minnesota, General Obligation Bonds, Series 2008A, 4.500%, 2/01/22 |
2/18 at 100.00 | Aa2 | 1,584,068 | ||||||||||||||
Independent School District 625, St. Paul, Minnesota, General Obligation Bonds, School Building Series 2011A: |
||||||||||||||||||
795 | 4.000%, 2/01/31 |
2/21 at 100.00 | AAA | 805,892 | ||||||||||||||
1,880 | 4.000%, 2/01/32 |
2/21 at 100.00 | AAA | 1,894,213 | ||||||||||||||
14,105 | Total Tax Obligation/General |
16,050,673 | ||||||||||||||||
Tax Obligation/Limited 4.2% |
||||||||||||||||||
2,000 | Duluth Independent School District 709, Minnesota, Certificates of Participation, Series 2008B, 4.000%, 2/01/19 |
No Opt. Call | AAA | 2,281,080 |
Nuveen Investments | 19 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
$ | 585 | Lakeville Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Ice Arena Project, Series 2006, 4.625%, 2/01/32 |
2/17 at 100.00 | Aa3 | $ | 595,384 | ||||||||||||
400 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2005, 5.650%, 2/01/27 |
2/14 at 100.00 | N/R | 364,276 | ||||||||||||||
Pine County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2005A: |
||||||||||||||||||
1,000 | 5.000%, 2/01/28 |
2/16 at 100.00 | BBB+ | 1,014,990 | ||||||||||||||
1,890 | 5.000%, 2/01/31 |
2/16 at 100.00 | BBB+ | 1,903,306 | ||||||||||||||
500 | Saint Paul Housing and Redevelopment Authority, Minnesota, Recreational Faility Lease Revenue Bonds, Jimmy Lee Recreational Center, Series 2008, 4.750%, 12/01/26 |
12/17 at 100.00 | AA+ | 524,645 | ||||||||||||||
6,375 | Total Tax Obligation/Limited |
6,683,681 | ||||||||||||||||
Transportation 9.1% |
||||||||||||||||||
1,000 | Minneapolis, Minnesota, Recovery Zone Facility Revenue Bonds, Mozaic Parking, LLC Project, Series 2010A, 8.500%, 1/01/41 |
1/21 at 100.00 | N/R | 1,025,790 | ||||||||||||||
4,000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009B, 5.000%, 1/01/20 (Alternative Minimum Tax) |
1/19 at 100.00 | AA | 4,456,080 | ||||||||||||||
6,000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Series 2007A, 5.000%, 1/01/24 AMBAC Insured |
1/17 at 100.00 | AA | 6,453,780 | ||||||||||||||
St. Paul Housing and Redevelopment Authority, Minnesota, Parking Revenue Bonds, Parking Facilities Project, Refunding Series 2010A: |
||||||||||||||||||
1,070 | 5.000%, 8/01/30 |
8/18 at 102.00 | A+ | 1,118,899 | ||||||||||||||
1,500 | 5.000%, 8/01/35 |
8/18 at 102.00 | A+ | 1,524,210 | ||||||||||||||
13,570 | Total Transportation |
14,578,759 | ||||||||||||||||
U.S. Guaranteed 3.3% (4) |
||||||||||||||||||
1,065 | Duluth Economic Development Authority, Minnesota, Healthcare Facilities Revenue Bonds, Benedictine Health System - St. Marys Duluth Clinic, Series 2004, 5.250%, 2/15/28 (Pre-refunded 2/15/14) |
2/14 at 100.00 | N/R | (4) | 1,190,894 | |||||||||||||
Marshall, Minnesota, Revenue Bonds, Weiner Memorial Medical Center, Series 2003A: |
||||||||||||||||||
305 | 5.250%, 11/01/16 (Pre-refunded 11/01/13) |
11/13 at 100.00 | N/R | (4) | 333,249 | |||||||||||||
875 | 5.850%, 11/01/23 (Pre-refunded 11/01/13) |
11/13 at 100.00 | N/R | (4) | 967,278 | |||||||||||||
2,000 | St. Louis Park, Minnesota, Revenue Bonds, Park Nicollet Health Services, Series 2003B, 5.500%, 7/01/25 (Pre-refunded 7/01/14) |
7/14 at 100.00 | N/R | (4) | 2,269,140 | |||||||||||||
410 | Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 1983A, 9.750%, 1/01/16 NPFG Insured (ETM) |
No Opt. Call | Aaa | 536,657 | ||||||||||||||
4,655 | Total U.S. Guaranteed |
5,297,218 | ||||||||||||||||
Utilities 17.1% |
||||||||||||||||||
45 | Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Series 2000A, 6.100%, 10/01/30 |
11/11 at 100.00 | A3 | 45,063 | ||||||||||||||
5,000 | Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2010A, 5.000%, 10/01/30 |
10/20 at 100.00 | A3 | 5,232,000 | ||||||||||||||
2,000 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2007A, 5.000%, 1/01/26 AMBAC Insured |
1/18 at 100.00 | A2 | 2,113,680 | ||||||||||||||
2,000 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005SS, 5.000%, 7/01/24 NPFG Insured |
7/15 at 100.00 | A3 | 2,057,780 |
20 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 1994A: |
||||||||||||||||||
$ | 2,000 | 0.000%, 1/01/19 NPFG Insured |
No Opt. Call | A+ | $ | 1,573,220 | ||||||||||||
1,765 | 0.000%, 1/01/21 NPFG Insured |
No Opt. Call | A+ | 1,247,820 | ||||||||||||||
3,000 | 0.000%, 1/01/23 NPFG Insured |
No Opt. Call | A+ | 1,860,570 | ||||||||||||||
11,000 | 0.000%, 1/01/24 NPFG Insured |
No Opt. Call | A+ | 6,407,610 | ||||||||||||||
4,770 | 0.000%, 1/01/25 NPFG Insured |
No Opt. Call | A+ | 2,618,156 | ||||||||||||||
6,100 | 0.000%, 1/01/26 NPFG Insured |
No Opt. Call | A+ | 3,156,381 | ||||||||||||||
2,300 | 0.000%, 1/01/27 NPFG Insured |
No Opt. Call | A+ | 1,123,089 | ||||||||||||||
39,980 | Total Utilities |
27,435,369 | ||||||||||||||||
Water and Sewer 0.9% |
||||||||||||||||||
1,500 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 1,505,685 | ||||||||||||||
$ | 168,663 | Total Municipal Bonds (cost $152,469,421) |
158,712,954 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 0.2% |
||||||||||||||||||
Money Market Funds 0.2% |
||||||||||||||||||
362,053 | Federated Minnesota Municipal Cash Trust, 0.010% (5) |
$ | 362,053 | |||||||||||||||
Total Short-Term Investments (cost $362,053) |
362,053 | |||||||||||||||||
Total Investments (cost $152,831,474) 99.1% |
159,075,007 | |||||||||||||||||
Other Assets Less Liabilities 0.9% |
1,384,704 | |||||||||||||||||
Net Assets 100% |
$ | 160,459,711 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 158,712,954 | $ | | $ | 158,712,954 | ||||||||
Short-Term Investments |
362,053 | | | 362,053 | ||||||||||||
Total |
$ | 362,053 | $ | 158,712,954 | $ | | $ | 159,075,007 |
Nuveen Investments | 21 |
Portfolio of Investments (Unaudited)
Nuveen Minnesota Municipal Bond Fund (continued)
August 31, 2011
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $152,831,474.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 8,409,027 | ||
Depreciation |
(2,165,494 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 6,243,533 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
(ETM) | Escrowed to maturity. |
22 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen Missouri Tax Free Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.3% |
||||||||||||||||||
Education and Civic Organizations 7.2% |
||||||||||||||||||
$ | 1,000 | Curators of the University of Missouri, System Facilities Revenue Bonds, Series 2007A, 5.000%, 11/01/33 |
No Opt. Call | AA+ | $ | 1,053,280 | ||||||||||||
1,025 | Kansas City Metropolitan Junior College District Certificates of Participation, Missouri, Series 2008, 4.500%, 7/01/21 |
7/17 at 100.00 | Aa2 | 1,122,765 | ||||||||||||||
1,000 | Lincoln University, Missouri, Auxillary System Revenue Bonds, Series 2007, 5.125%, 6/01/37 AGC Insured |
6/17 at 100.00 | AA+ | 1,017,850 | ||||||||||||||
1,185 | Missouri Development Finance Board, Research Facility Revenue Bonds, Midwest Research Institute Project, Series 2007, 5.000%, 11/01/17 |
No Opt. Call | Baa2 | 1,302,765 | ||||||||||||||
Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 2011A: |
||||||||||||||||||
1,000 | 6.500%, 10/01/30 |
10/18 at 103.00 | BBB | 1,071,750 | ||||||||||||||
1,300 | 6.500%, 10/01/35 |
10/18 at 103.00 | BBB | 1,371,708 | ||||||||||||||
3,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Seres 2008A, 5.375%, 3/15/39 |
3/18 at 100.00 | AAA | 3,277,590 | ||||||||||||||
1,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2011B, 5.000%, 11/15/37 |
11/21 at 100.00 | AAA | 1,093,150 | ||||||||||||||
600 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, Series 2011, 5.000%, 4/01/36 |
4/21 at 100.00 | A2 | 615,132 | ||||||||||||||
11,110 | Total Education and Civic Organizations |
11,925,990 | ||||||||||||||||
Health Care 21.3% |
||||||||||||||||||
2,000 | Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Series 2008, 5.625%, 8/01/38 |
8/18 at 100.00 | A3 | 2,032,500 | ||||||||||||||
1,025 | Boone County, Missouri, Hospital Revenue Bonds, Series 2002, 5.050%, 8/01/20 |
8/12 at 100.00 | A3 | 1,036,911 | ||||||||||||||
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Saint Francis Medical Center, Series 2009A: |
||||||||||||||||||
250 | 5.125%, 6/01/23 |
6/19 at 100.00 | A+ | 266,595 | ||||||||||||||
200 | 5.125%, 6/01/24 |
6/19 at 100.00 | A+ | 210,266 | ||||||||||||||
500 | 5.500%, 6/01/29 |
6/19 at 100.00 | A+ | 515,860 | ||||||||||||||
2,000 | 5.750%, 6/01/39 |
6/19 at 100.00 | A+ | 2,070,540 | ||||||||||||||
245 | Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2002, 5.625%, 6/01/22 |
6/12 at 100.00 | N/R | 246,551 | ||||||||||||||
2,000 | Cass County, Missouri, Hospital Revenue Bonds, Series 2007, 5.500%, 5/01/27 |
11/16 at 100.00 | N/R | 1,899,160 | ||||||||||||||
1,000 | Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional Medical Center, Series 2007, 5.000%, 12/01/37 |
12/17 at 100.00 | N/R | 769,950 | ||||||||||||||
495 | Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Refunding Composite Deal Series 2010B, 5.250%, 1/01/25 |
1/20 at 100.00 | AA | 534,813 | ||||||||||||||
Grundy County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Wright Memorial Hospital, Series 2009: |
||||||||||||||||||
1,120 | 5.650%, 9/01/22 |
9/19 at 100.00 | N/R | 1,145,290 | ||||||||||||||
1,000 | 5.750%, 9/01/23 |
9/19 at 100.00 | N/R | 1,021,840 | ||||||||||||||
850 | Hannibal Industrial Development Authority, Missouri, Health Facilities Refunding Revenue Bonds, Hannibal Regional Hospital, Refunding Series 2010, 5.375%, 9/01/19 |
9/13 at 102.00 | BBB+ | 888,378 | ||||||||||||||
1,835 | Hannibal Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Hannibal Regional Hospital, Series 2006, 5.000%, 3/01/22 |
3/16 at 100.00 | BBB+ | 1,865,278 | ||||||||||||||
2,000 | Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2004, 5.500%, 2/15/24 |
2/15 at 102.00 | BBB+ | 2,037,160 | ||||||||||||||
2,500 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds The Childrens Mercy Hospital, Series 2009, 5.625%, 5/15/39 |
5/19 at 100.00 | A+ | 2,563,350 | ||||||||||||||
2,000 | Missouri Health and Educational Facilities Authority, Health Facility Revenue Bonds, St. Lukess Health System, Series 2003B, 5.500%, 11/15/32 AGM Insured |
11/18 at 100.00 | AA+ | 2,136,360 |
Nuveen Investments | 23 |
Portfolio of Investments (Unaudited)
Nuveen Missouri Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
Missouri Health and Educational Facilities Authority, Health Facility Revenue Bonds, St. Lukess Health System, Series 2010A: |
||||||||||||||||||
$ | 485 | 5.250%, 11/15/25 |
11/20 at 100.00 | A+ | $ | 519,159 | ||||||||||||
500 | 5.000%, 11/15/30 |
11/20 at 100.00 | A+ | 513,325 | ||||||||||||||
2,310 | Missouri Health and Educational Facilities Authority, Revenue Bonds, BJC Health System, Series 1994A, 6.750%, 5/15/12 |
No Opt. Call | Aaa | 2,404,133 | ||||||||||||||
2,300 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Jefferson Memorial Hospital Obligated Group, Refunding and Improvement Series 2004, 5.000%, 8/15/19 RAAI Insured |
8/14 at 100.00 | Baa2 | 2,348,346 | ||||||||||||||
2,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Health Care System, Series 2008A, 5.000%, 6/01/36 |
6/18 at 100.00 | AA | 2,036,540 | ||||||||||||||
1,500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Health Care System, Series 2010B, 5.000%, 6/01/30 |
6/20 at 100.00 | AA | 1,563,570 | ||||||||||||||
1,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, St. Lukes Episcopal and Presbyterian Hospitals, Series 2011, 5.000%, 12/01/25 (WI/DD, Settling 9/08/11) |
12/21 at 100.00 | A+ | 1,051,880 | ||||||||||||||
1,000 | Saline County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, John Fitzgibbon Memorial Hospital Inc., Series 2005, 5.625%, 12/01/35 |
12/15 at 100.00 | N/R | 831,390 | ||||||||||||||
1,000 | Saline County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, John Fitzgibbon Memorial Hospital Inc., Series 2010, 5.600%, 12/01/28 |
12/20 at 100.00 | N/R | 960,390 | ||||||||||||||
St. Louis County Industrial Development Authority, Missouri, Healthcare Facilities Revenue Bonds, Ranken-Jordan Project, Refunding Series 2007: |
||||||||||||||||||
125 | 4.250%, 11/15/14 |
No Opt. Call | N/R | 118,575 | ||||||||||||||
670 | 5.000%, 11/15/27 |
11/16 at 100.00 | N/R | 564,455 | ||||||||||||||
1,300 | 5.000%, 11/15/35 |
11/16 at 100.00 | N/R | 1,017,536 | ||||||||||||||
35,210 | Total Health Care |
35,170,101 | ||||||||||||||||
Housing/Multifamily 0.8% |
||||||||||||||||||
1,290 | Kansas City Industrial Development Authority, Missouri, GNMA Collateralized Multifamily Housing Revenue Bonds, Grand Boulevard Lofts Project, Series 2009A, 5.300%, 11/20/49 |
11/19 at 100.00 | Aaa | 1,333,112 | ||||||||||||||
Housing/Single Family 0.7% |
||||||||||||||||||
485 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2006B, 4.800%, 9/01/31 (Alternative Minimum Tax) |
9/15 at 100.00 | AA+ | 483,458 | ||||||||||||||
245 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2006C-1, 5.000%, 9/01/37 (Alternative Minimum Tax) |
9/15 at 100.00 | AA+ | 246,012 | ||||||||||||||
360 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2008A-1, 5.300%, 3/01/39 (Alternative Minimum Tax) |
9/17 at 100.00 | AA+ | 364,702 | ||||||||||||||
1,090 | Total Housing/Single Family |
1,094,172 | ||||||||||||||||
Industrials 1.0% |
||||||||||||||||||
Kennett Industrial Development Authority, Missouri, Revenue Bonds, Manac Trailers USA Inc Project, Series 2007: |
||||||||||||||||||
1,500 | 4.250%, 3/01/22 (Alternative Minimum Tax) |
3/15 at 100.00 | Ba2 | 1,277,745 | ||||||||||||||
500 | 4.250%, 3/01/24 (Alternative Minimum Tax) |
3/15 at 100.00 | Ba2 | 407,705 | ||||||||||||||
2,000 | Total Industrials |
1,685,450 | ||||||||||||||||
Long-Term Care 6.8% |
||||||||||||||||||
2,000 | Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior Services Heisinger Project, Series 2004, 5.250%, 2/01/24 |
2/14 at 100.00 | N/R | 2,001,560 | ||||||||||||||
500 | Illinois Finance Authority, Revenue Bonds, Franciscan Communities Inc., Refunding Series 2007A, 5.500%, 5/15/27 |
5/17 at 100.00 | N/R | 419,100 |
24 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Long-Term Care (continued) |
||||||||||||||||||
Joplin Industrial Development Authority, Missouri, Revenue Bonds, Christian Homes Inc., Series 2007F: |
||||||||||||||||||
$ | 500 | 5.500%, 5/15/17 |
No Opt. Call | N/R | $ | 512,960 | ||||||||||||
500 | 5.750%, 5/15/31 |
5/17 at 100.00 | N/R | 457,575 | ||||||||||||||
1,500 | Kirkwood Industrial Development Authority, Missouri Retirement Community Revenue Bonds, Aberdeen Heights Project, Series 2010C, 7.000%, 11/15/15 |
5/12 at 100.00 | N/R | 1,504,575 | ||||||||||||||
1,035 | Lees Summit Industrial Development Authority, Missouri, Revenue Bonds, John Knox Village Obligated Group, Series 2007A, 5.000%, 8/15/14 |
No Opt. Call | N/R | 1,089,006 | ||||||||||||||
1,250 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Senior Lien Series 2010, 5.500%, 2/01/42 |
2/20 at 100.00 | N/R | 1,163,013 | ||||||||||||||
1,500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services, Series 2005, 5.375%, 2/01/35 |
No Opt. Call | N/R | 1,386,345 | ||||||||||||||
325 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services, Series 2007A, 4.875%, 2/01/18 |
2/17 at 100.00 | N/R | 338,829 | ||||||||||||||
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of West County, Series 2007A: |
||||||||||||||||||
500 | 5.375%, 9/01/21 |
9/17 at 100.00 | N/R | 503,770 | ||||||||||||||
2,000 | 5.500%, 9/01/28 |
9/17 at 100.00 | N/R | 1,888,240 | ||||||||||||||
11,610 | Total Long-Term Care |
11,264,973 | ||||||||||||||||
Materials 0.5% |
||||||||||||||||||
1,000 | Sugar Creek, Missouri, Industrial Development Revenue Bonds, Lafarge North America Inc., Series 2003A, 5.650%, 6/01/37 (Alternative Minimum Tax) |
6/13 at 101.00 | BB+ | 890,320 | ||||||||||||||
Tax Obligation/General 7.9% |
||||||||||||||||||
Belton, Missouri, General Obligation Bonds, Refunding & Improvement Series 2011: |
||||||||||||||||||
680 | 5.000%, 3/01/30 |
3/21 at 100.00 | A+ | 729,694 | ||||||||||||||
1,000 | 4.750%, 3/01/31 |
3/21 at 100.00 | A+ | 1,050,320 | ||||||||||||||
850 | Blue Springs, Missouri, General Obligation Bonds, South Area Neighborhood Improvement, Refunding Series 2009, 5.000%, 2/15/29 |
2/19 at 100.00 | AA | 907,987 | ||||||||||||||
2,000 | Jackson County Reorganized School District 4, Blue Springs, Missouri, General Obligation Bonds, Refunding & Improvement Series 2009A, 4.750%, 3/01/26 |
No Opt. Call | AA | 2,150,680 | ||||||||||||||
1,000 | Jackson County Reorganized School District R-7, Lees Summit, Missouri, General Obligation Bonds, School Building Series 2008, 4.750%, 3/01/27 |
3/18 at 100.00 | Aa1 | 1,069,410 | ||||||||||||||
1,015 | Missouri School Boards Association, Lease Participation Certificates, Clay County School District 53 Liberty, Series 2007, 5.250%, 3/01/25 AGM Insured |
3/17 at 100.00 | AA+ | 1,105,924 | ||||||||||||||
685 | Platte County Reorganized School District R3, Missouri, General Obligation Bonds, Series 2004, 5.000%, 3/01/24 NPFG Insured |
3/14 at 100.00 | AA | 718,017 | ||||||||||||||
200 | Platte County R-III School District Building Corporation, Missouri, Leasehold Refunding and Improvement Revenue Bonds, Series 2008, 5.000%, 3/01/28 |
3/18 at 100.00 | AA | 211,994 | ||||||||||||||
1,000 | Puerto Rico, General Obligation Bonds, Public Improvment Refunding Series 2008A, 5.250%, 7/01/26 |
7/18 at 100.00 | Baa1 | 1,012,810 | ||||||||||||||
690 | Richmond Heights, Missouri, General Obligation Bonds, Manhasset Village Nieghboorhood, Series 2006, 4.500%, 4/01/26 |
4/14 at 100.00 | N/R | 697,266 | ||||||||||||||
1,000 | Saint Charles County Francis Howell School District, Missouri, General Obligation Bonds, Series 2009, 5.000%, 3/01/27 |
3/19 at 100.00 | AA+ | 1,098,540 | ||||||||||||||
5,000 | Wentzville School District R-04, Saint Charles County, Missouri, General Obligation Improvement and Refunding Bonds, Series 2009A, 0.000%, 3/01/26 |
3/19 at 66.11 | AA+ | 2,329,650 | ||||||||||||||
15,120 | Total Tax Obligation/General |
13,082,292 |
Nuveen Investments | 25 |
Portfolio of Investments (Unaudited)
Nuveen Missouri Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited 31.4% |
||||||||||||||||||
Belton, Missouri, Certificates of Participation, Series 2007: |
||||||||||||||||||
$ | 600 | 4.375%, 3/01/19 NPFG Insured |
3/17 at 100.00 | Baa1 | $ | 631,026 | ||||||||||||
250 | 4.500%, 3/01/22 NPFG Insured |
3/17 at 100.00 | Baa1 | 256,303 | ||||||||||||||
355 | Belton, Missouri, Certificates of Participation, Series 2008, 5.250%, 3/01/29 |
3/18 at 100.00 | A | 367,233 | ||||||||||||||
1,000 | Cape Girardeau County Building Corporation, Missouri, Leasehold Revenue Bonds, Reorganized School District R-02, Jackson R-II School District High School Project, Series 2005, 5.250%, 3/01/26 NPFG Insured |
3/16 at 100.00 | A | 1,052,910 | ||||||||||||||
1,975 | Cass County, Missouri, Certificates of Participation, Refunding Series 2010, 4.000%, 5/01/22 |
5/20 at 100.00 | A | 2,021,452 | ||||||||||||||
1,425 | Clay County Public Building Authority, Leasehold Revenue Refunding Bonds, Clay County, Missouri, Series 1998A, 5.125%, 5/15/14 AGM Insured |
11/11 at 100.00 | AA+ | 1,430,287 | ||||||||||||||
Cottleville, Missouri, Certificates of Participation, Series 2006: |
||||||||||||||||||
200 | 5.125%, 8/01/26 |
8/14 at 100.00 | N/R | 194,106 | ||||||||||||||
1,700 | 5.250%, 8/01/31 |
8/14 at 100.00 | N/R | 1,591,285 | ||||||||||||||
1,000 | Fenton, Missouri, Tax Increment Revenue Bonds, Gravois Bluffs Redevelopment Project, Series 2006, 5.000%, 4/01/14 |
No Opt. Call | N/R | 1,074,890 | ||||||||||||||
Harrisonville, Missouri, Annual Appropriation-Supported Tax Increment and Sales Tax Revenue Bonds, Harrisonville Towne Center Project, Series 2007: |
||||||||||||||||||
340 | 4.375%, 11/01/17 |
11/13 at 100.00 | A+ | 352,624 | ||||||||||||||
715 | 4.500%, 11/01/22 |
11/13 at 100.00 | A+ | 724,981 | ||||||||||||||
Hazelwood School District, St Louis County, Missouri, Certificates of Participation, Energy Improvements Project, Series 2006: |
||||||||||||||||||
515 | 4.500%, 3/01/17 |
3/16 at 100.00 | A+ | 566,160 | ||||||||||||||
445 | 4.500%, 3/01/18 |
3/16 at 100.00 | A+ | 483,190 | ||||||||||||||
1,745 | Howard Bend Levee District, Missouri, Levee District Improvement Bonds, Series 2005, 5.500%, 3/01/26 SYNCORA GTY Insured |
No Opt. Call | BBB+ | 1,894,424 | ||||||||||||||
3,000 | Jackson County, Missouri, Special Obligation Bonds, Harry S. Truman Sports Complex, Series 2006, 5.000%, 12/01/28 AMBAC Insured |
12/16 at 100.00 | Aa3 | 3,089,730 | ||||||||||||||
Kansas City Industrial Development Authority, Missouri, Infrastructure Revenue Bonds, NNSA National Security Campus Project, MoDot Funded Transportation Improvements, Series 2010: |
||||||||||||||||||
1,250 | 4.000%, 9/01/13 |
No Opt. Call | N/R | 1,276,675 | ||||||||||||||
1,115 | 4.000%, 9/01/14 |
No Opt. Call | N/R | 1,142,351 | ||||||||||||||
2,000 | Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/27 AMBAC Insured |
No Opt. Call | AA | 864,720 | ||||||||||||||
500 | Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Maincor Project, Series 2007A, 5.250%, 3/01/18 |
No Opt. Call | N/R | 491,375 | ||||||||||||||
280 | Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Shoal Creek Parkway Project, Series 2011, 5.000%, 6/01/21 |
6/16 at 100.00 | N/R | 282,450 | ||||||||||||||
200 | Kansas City, Missouri, Industrial Development Authority, Downtown Redevelopment District Revenue Bonds, Series 2011A, 5.000%, 9/01/32 |
9/21 at 100.00 | AA | 202,830 | ||||||||||||||
Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, Branson City, Series 2003A: |
||||||||||||||||||
1,000 | 5.000%, 12/01/17 |
12/12 at 100.00 | A | 1,027,920 | ||||||||||||||
750 | 5.375%, 12/01/22 |
12/12 at 100.00 | A | 763,920 | ||||||||||||||
1,000 | Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Centerpoint Project, Series 2007E, 5.125%, 4/01/25 |
4/17 at 100.00 | A | 1,038,620 | ||||||||||||||
1,000 | Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Crackerneck Creek Project, Series 2008B, 5.000%, 3/01/25 |
3/18 at 100.00 | A | 1,023,500 | ||||||||||||||
1,010 | Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Eastland Center Project, Refunding Series 2007A, 4.250%, 4/01/15 |
No Opt. Call | A | 1,086,558 | ||||||||||||||
1,000 | Missouri State Board of Public Building, Special Obligation Bonds, Series 2003A, 5.000%, 10/15/27 |
10/13 at 100.00 | AA+ | 1,035,680 |
26 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
Missouri State Board of Public Building, State Office Buildings Special Obligation Bonds, Series 2001A: |
||||||||||||||||||
$ | 3,000 | 5.000%, 5/01/24 NPFG Insured |
9/11 at 100.00 | AA+ | $ | 3,010,050 | ||||||||||||
5,000 | 5.125%, 5/01/26 |
9/11 at 100.00 | AA+ | 5,015,000 | ||||||||||||||
1,000 | Monarch-Chesterfield Levee District, St. Louis County, Missouri, Levee District Improvement Bonds, Series 2010, 3.000%, 3/01/18 |
3/17 at 100.00 | A | 1,041,280 | ||||||||||||||
1,455 | Osage Beach, Missouri, Tax Increment Revenue Bonds, Prewitts Point Transportation Development District, Series 2006, 5.000%, 5/01/23 |
5/12 at 102.00 | N/R | 1,234,742 | ||||||||||||||
1,000 | Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2005K, 5.000%, 7/01/17 |
7/15 at 100.00 | Baa1 | 1,061,440 | ||||||||||||||
1,500 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42 |
8/19 at 100.00 | A+ | 1,587,960 | ||||||||||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C: |
||||||||||||||||||
1,530 | 6.000%, 8/01/39 |
8/20 at 100.00 | A+ | 1,628,731 | ||||||||||||||
1,000 | 5.250%, 8/01/41 |
8/20 at 100.00 | A+ | 994,720 | ||||||||||||||
1,000 | Raytown, Missouri, Annual Appropriation Supported Tax Increment and Sales Tax Revenue Bonds, Raytown Live Redevelopment Project Area 1, Series 2007, 5.125%, 12/01/31 |
6/17 at 100.00 | A+ | 1,010,580 | ||||||||||||||
1,400 | Riverside Industrial Development Authority, Missouri, Industrial Development Revenue Bonds, Riverside Horizon, Series 2007A, 5.000%, 5/01/27 ACA Insured |
5/17 at 100.00 | A | 1,416,422 | ||||||||||||||
1,000 | Riverside, Missouri, L-385 Levee Redevelopment Plan Tax Increment Revenue Bonds, Series 2004, 5.250%, 5/01/20 |
5/15 at 100.00 | A | 1,037,340 | ||||||||||||||
Saint Joseph Industrial Development Authority, Missouri, Special Obligation Revenue Bonds, Sewerage System Improvements Project, Series 2007: |
||||||||||||||||||
500 | 4.750%, 4/01/20 |
4/17 at 100.00 | A | 536,155 | ||||||||||||||
390 | 4.750%, 4/01/21 |
4/17 at 100.00 | A | 414,925 | ||||||||||||||
Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2009A: |
||||||||||||||||||
1,000 | 0.000%, 7/15/26 AGC Insured |
No Opt. Call | AA+ | 437,280 | ||||||||||||||
1,000 | 0.000%, 7/15/27 AGC Insured |
No Opt. Call | AA+ | 407,290 | ||||||||||||||
1,000 | 0.000%, 7/15/28 AGC Insured |
No Opt. Call | AA+ | 379,860 | ||||||||||||||
1,000 | 0.000%, 7/15/29 AGC Insured |
No Opt. Call | AA+ | 348,250 | ||||||||||||||
2,000 | Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Series 2004, 5.000%, 3/01/24 AMBAC Insured |
3/14 at 100.00 | Aa2 | 2,151,940 | ||||||||||||||
1,595 | Texas County, Missouri, Certificates of Participation, Justice Center Project, Series 2006, 4.500%, 12/01/25 AGC Insured |
12/16 at 100.00 | AA+ | 1,646,455 | ||||||||||||||
520 | Union, Missouri, Certificates of Participation, Series 2006A, 5.200%, 7/01/23 |
7/14 at 100.00 | N/R | 528,856 | ||||||||||||||
54,260 | Total Tax Obligation/Limited |
51,856,476 | ||||||||||||||||
Transportation 2.0% |
||||||||||||||||||
2,000 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International Series 2009A-2, 6.125%, 7/01/24 |
7/19 at 100.00 | A | 2,203,960 | ||||||||||||||
1,000 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/20 AGM Insured |
No Opt. Call | AA+ | 1,073,290 | ||||||||||||||
3,000 | Total Transportation |
3,277,250 | ||||||||||||||||
U.S. Guaranteed 3.9% (4) |
||||||||||||||||||
1,255 | Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2002, 5.625%, 6/01/22 (Pre-refunded 6/01/12) |
6/12 at 100.00 | N/R | (4) | 1,304,347 | |||||||||||||
4,000 | Kansas City, Missouri, Special Facility Revenue Bonds, MCI Overhaul Base Project, Series 2005G, 4.750%, 9/01/28 (Pre-refunded 9/01/15) (Alternative Minimum Tax) |
9/15 at 100.00 | AA | (4) | 4,566,600 |
Nuveen Investments | 27 |
Portfolio of Investments (Unaudited)
Nuveen Missouri Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
U.S. Guaranteed (4) (continued) |
||||||||||||||||||
$ | 500 | St. Louis County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Ranken-Jordan Project, Series 2003, 6.625%, 11/15/35 (Pre-refunded 11/15/13) |
11/13 at 100.00 | N/R | (4) | $ | 566,435 | |||||||||||
5,755 | Total U.S. Guaranteed |
6,437,382 | ||||||||||||||||
Utilities 5.3% |
||||||||||||||||||
1,000 | Missouri Joint Municipal Electric Utility Commission, Iatan 2 Power Project Revenue Bonds, Series 2006A, 5.000%, 1/01/28 AMBAC Insured |
1/16 at 100.00 | A3 | 1,034,740 | ||||||||||||||
Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006: |
||||||||||||||||||
1,500 | 5.000%, 1/01/16 NPFG Insured |
No Opt. Call | Baa1 | 1,655,655 | ||||||||||||||
375 | 5.000%, 1/01/17 NPFG Insured |
1/16 at 100.00 | Baa1 | 407,633 | ||||||||||||||
2,545 | 5.000%, 1/01/34 NPFG Insured |
1/16 at 100.00 | Baa1 | 2,545,814 | ||||||||||||||
2,000 | Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Iatan 2 Project, Series 2009A, 6.000%, 1/01/39 |
1/16 at 100.00 | A3 | 2,123,260 | ||||||||||||||
1,000 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series WW, 5.250%, 7/01/25 |
7/18 at 100.00 | A3 | 1,025,590 | ||||||||||||||
8,420 | Total Utilities |
8,792,692 | ||||||||||||||||
Water and Sewer 9.5% |
||||||||||||||||||
500 | Carroll County Public Water Supply District 1, Missouri, Water System Revenue Bonds, Refunding Series 2009, 6.000%, 3/01/39 |
3/18 at 100.00 | A | 532,445 | ||||||||||||||
Columbia, Missouri, Special Obligation Electric Utility Improvement Bonds, Annual Appropriation Obligation, Series 2008A: |
||||||||||||||||||
400 | 5.000%, 10/01/21 |
10/17 at 100.00 | AA | 454,724 | ||||||||||||||
445 | 5.000%, 10/01/23 |
10/17 at 100.00 | AA | 495,321 | ||||||||||||||
500 | 5.125%, 10/01/30 |
10/17 at 100.00 | AA | 535,525 | ||||||||||||||
1,370 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 |
7/20 at 100.00 | Ba2 | 1,263,798 | ||||||||||||||
Jefferson County Consolidated Public Water Supply District C1, Missouri, Waterworks Revenue Bonds, Refunding Series 2010: |
||||||||||||||||||
745 | 4.125%, 12/01/24 |
12/17 at 100.00 | AA | 772,215 | ||||||||||||||
500 | 4.250%, 12/01/25 |
12/17 at 100.00 | AA | 518,445 | ||||||||||||||
2,000 | Kansas City, Missouri, Sanitary Sewer System Revenue Bonds, Series 2009A, 5.250%, 1/01/34 |
1/19 at 100.00 | AA | 2,131,897 | ||||||||||||||
500 | Kansas City, Missouri, Water Revenue Bonds, Refunding & Improvement Series 2009A, 5.250%, 12/01/32 |
No Opt. Call | AA+ | 544,709 | ||||||||||||||
1,500 | Lincoln County Public Water Supply District 1, Missouri, Certificates of Participation, Refunding Series 2009, 6.750%, 6/15/35 |
6/16 at 100.00 | A | 1,570,139 | ||||||||||||||
500 | Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2008A, 5.750%, 5/01/38 |
5/17 at 100.00 | AA+ | 548,324 | ||||||||||||||
1,000 | Missouri Development Finance Board, Independence, Infrastructure Facilities Revenue Bonds, Water System Improvement Projects, Series 2004, 5.000%, 11/01/24 AMBAC Insured |
11/14 at 100.00 | A | 1,024,630 | ||||||||||||||
500 | Missouri Development Finance Board, Independence, Infrastructure Facilities Revenue Bonds, Water System Improvement Projects, Series 2009C, 5.750%, 11/01/29 |
No Opt. Call | A | 517,625 | ||||||||||||||
470 | Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water Revenue Bonds, State Revolving Fund Program, Series 2001C, 5.000%, 7/01/23 |
11/11 at 100.00 | Aaa | 471,612 | ||||||||||||||
410 | Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water Revenue Bonds, State Revolving Fund Program, Series 2005C, 4.750%, 7/01/23 |
1/16 at 100.00 | Aaa | 445,190 | ||||||||||||||
1,000 | Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water Revenue Bonds, State Revolving Fund Program, Series 2008A, 5.750%, 1/01/29 |
1/19 at 100.00 | Aaa | 1,161,560 |
28 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Water and Sewer (continued) |
||||||||||||||||||
$ | 110 | Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control Revenue Bonds, State Revolving Fund Program Multi-Participants, Series 1998B, 5.250%, 1/01/15 |
11/11 at 100.00 | Aaa | $ | 110,440 | ||||||||||||
2,070 | North Central Missouri Regional Water Commission, Waterworks System Revenue Bonds, Series 2006, 5.000%, 1/01/37 |
1/17 at 100.00 | N/R | 1,893,657 | ||||||||||||||
590 | Taney County Public Water Supply District 3, Missouri, Certificates of Participation, Refundind Series 2010, 4.500%, 7/01/25 |
7/15 at 101.00 | A+ | 601,953 | ||||||||||||||
15,110 | Total Water and Sewer |
15,594,209 | ||||||||||||||||
$ | 164,975 | Total Municipal Bonds (cost $157,982,766) |
162,404,419 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 1.3% |
||||||||||||||||||
Money Market Funds 1.3% |
||||||||||||||||||
2,190,594 | First American Tax Free Obligations Fund, Class Z, 0.002% (5) |
$ | 2,190,594 | |||||||||||||||
Total Short-Term Investments (cost $2,190,594) |
2,190,594 | |||||||||||||||||
Total Investments (cost $160,173,360) 99.6% |
164,595,013 | |||||||||||||||||
Other Assets Less Liabilities 0.4% |
579,485 | |||||||||||||||||
Net Assets 100% |
$ | 165,174,498 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 162,404,419 | $ | | $ | 162,404,419 | ||||||||
Short-Term Investments |
2,190,594 | | | 2,190,594 | ||||||||||||
Total |
$ | 2,190,594 | $ | 162,404,419 | $ | | $ | 164,595,013 |
Nuveen Investments | 29 |
Portfolio of Investments (Unaudited)
Nuveen Missouri Tax Free Fund (continued)
August 31, 2011
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $160,173,360.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 6,753,726 | ||
Depreciation |
(2,332,073 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 4,421,653 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
30 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen Nebraska Municipal Bond Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.6% |
||||||||||||||||||
Education and Civic Organizations 28.3% |
||||||||||||||||||
$ | 990 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Academy of Charter Schools Project, Series 2008, 5.625%, 5/01/40 |
5/18 at 100.00 | A | $ | 998,940 | ||||||||||||
1,000 | Douglas County Hospital Authority 2, Nebraska, Healthcare Revenue Bonds, Boys Town Project, Series 2008, 4.750%, 9/01/28 |
9/18 at 100.00 | AA+ | 1,037,670 | ||||||||||||||
Douglas County, Nebraska, Educational Facilities Revenue Bonds, Creighton University Projects, Refunding Series 2010A: |
||||||||||||||||||
1,000 | 5.600%, 7/01/25 |
7/20 at 100.00 | A3 | 1,104,310 | ||||||||||||||
1,000 | 5.500%, 7/01/30 |
7/20 at 100.00 | A3 | 1,060,190 | ||||||||||||||
665 | Douglas County, Nebraska, Zoo Facilities Revenue Bonds, OMahas Henry Doory Zoo Project, Refunding Series 2005, 4.750%, 9/01/24 |
4/15 at 100.00 | A | 685,229 | ||||||||||||||
500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2008A, 5.375%, 3/15/39 |
3/18 at 100.00 | AAA | 546,265 | ||||||||||||||
500 | Nebraska Educational Finance Authority, Revenue Bonds, Clarkson College Project, Refunding Series 2011, 5.450%, 9/01/35 |
5/21 at 100.00 | Aa3 | 521,995 | ||||||||||||||
2,690 | Nebraska Educational Finance Authority, Revenue Bonds, Concordia University Project, Refunding Series 2007, 5.000%, 10/01/37 |
10/15 at 100.00 | N/R | 2,244,859 | ||||||||||||||
605 | Nebraska Educational Finance Authority, Revenue Bonds, Wesleyan University, Refunding Series 2002, 5.000%, 4/01/17 RAAI Insured |
4/12 at 100.00 | N/R | 610,003 | ||||||||||||||
500 | University of Nebraska Facilities Corporation, Medical Center Facilities Revenue Bonds, Series 2002, 5.000%, 2/15/15 |
2/12 at 100.00 | Aa1 | 510,190 | ||||||||||||||
500 | University of Nebraska, Lincoln, Athletic Revenue Bonds, Lincoln Memorial Stadium Project, Series 2004A, 5.000%, 11/01/15 |
5/14 at 100.00 | Aa3 | 547,715 | ||||||||||||||
750 | University of Nebraska, Revenue Bonds, Lincoln Student Fees and Facilities, Series 2003, 5.000%, 7/01/22 |
1/13 at 100.00 | Aa1 | 783,945 | ||||||||||||||
1,000 | University of Nebraska, Revenue Bonds, Omaha Health & Recreation Project, Series 2008, 5.000%, 5/15/33 |
5/18 at 100.00 | Aa1 | 1,050,740 | ||||||||||||||
350 | University of Nebraska, Revenue Bonds, Omaha Student Facilities Project, Series 2007, 5.000%, 5/15/32 |
5/17 at 100.00 | Aa1 | 366,314 | ||||||||||||||
500 | University of Nebraska, Revenue Bonds, Omaha Student Housing Project, Series 2003, 5.000%, 5/15/23 |
11/13 at 100.00 | Aa1 | 538,525 | ||||||||||||||
12,550 | Total Education and Civic Organizations |
12,606,890 | ||||||||||||||||
Health Care 10.2% |
||||||||||||||||||
1,000 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Refunding Bonds, Childrens Hospital Obligated Group, Series 2008B, 6.000%, 8/15/28 |
8/17 at 100.00 | A2 | 1,063,090 | ||||||||||||||
Douglas County Hospital Authority 3, Nebraska, Health Facilities Refunding and Revenue Bonds, Nebraska Methodist Health System, Series 2008: |
||||||||||||||||||
275 | 5.750%, 11/01/28 |
11/18 at 100.00 | A | 284,262 | ||||||||||||||
1,000 | 5.500%, 11/01/38 |
11/18 at 100.00 | A | 994,330 | ||||||||||||||
600 | Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.000%, 6/01/38 |
6/16 at 100.00 | A | 541,128 | ||||||||||||||
600 | Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Jackson County, Schneck Memorial Hospital, Series 2006A, 5.250%, 2/15/30 |
2/16 at 100.00 | A | 601,872 | ||||||||||||||
Nebraska Investment Finance Authority, Hospital Revenue Bonds, Great Plains Regional Medical Center Project, Series 2002: |
||||||||||||||||||
250 | 5.200%, 11/15/16 RAAI Insured |
5/12 at 100.00 | A | 255,240 | ||||||||||||||
805 | 5.300%, 11/15/17 RAAI Insured |
5/12 at 100.00 | A | 820,480 | ||||||||||||||
4,530 | Total Health Care |
4,560,402 | ||||||||||||||||
Housing/Multifamily 1.2% |
||||||||||||||||||
520 | Omaha Housing Authority, Nebraska, Multifamily Housing Revenue Bonds, GNMA Mortgage Backed Securities Program Timbercreek Apartments Project, Series 2001, 5.150%, 11/20/22 |
10/11 at 100.00 | N/R | 520,515 |
Nuveen Investments | 31 |
Portfolio of Investments (Unaudited)
Nuveen Nebraska Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Single Family 4.8% |
||||||||||||||||||
$ | 2,000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2010A, 5.700%, 9/01/31 |
9/20 at 100.00 | AA+ | $ | 2,160,640 | ||||||||||||
Long-Term Care 10.1% |
||||||||||||||||||
250 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan, Series 2009B, 5.000%, 6/01/39 (Mandatory put 12/01/14) |
No Opt. Call | A | 268,743 | ||||||||||||||
100 | Colorado Health Facilities Authority, Revenue Bonds, Christian Living Communities Project, Series 2006A, 5.750%, 1/01/26 |
1/17 at 100.00 | N/R | 93,995 | ||||||||||||||
275 | Illinois Finance Authority, Revenue Bonds, Franciscan Communities Inc., Refunding Series 2007A, 5.500%, 5/15/37 |
5/17 at 100.00 | N/R | 210,650 | ||||||||||||||
200 | Illinois Finance Authority, Revenue Bonds, Three Crowns Park Plaza, Series 2006A, 5.875%, 2/15/26 |
2/16 at 100.00 | N/R | 190,730 | ||||||||||||||
3,090 | Lancaster County Hospital Authority 1, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.625%, 1/01/40 |
1/20 at 100.00 | N/R | 3,121,456 | ||||||||||||||
600 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community Project, Series 2006, 5.000%, 9/01/25 |
9/14 at 100.00 | A | 596,838 | ||||||||||||||
4,515 | Total Long-Term Care |
4,482,412 | ||||||||||||||||
Materials 0.7% |
||||||||||||||||||
300 | Washington County, Nebraska, Wastewater Facilities Revenue Bonds, Cargill Inc., Series 2002, 5.900%, 11/01/27 (Alternative Minimum Tax) |
11/12 at 101.00 | A | 307,341 | ||||||||||||||
Tax Obligation/General 8.8% |
||||||||||||||||||
195 | Buffalo County, Nebraska, General Obligation Bonds, Series 2008, 6.000%, 12/15/28 AGC Insured |
11/13 at 102.00 | AA+ | 207,946 | ||||||||||||||
350 | Douglas County School District 059, Nebraska, General Obligation Bonds, School Building Series 2011B, 4.700%, 12/15/32 |
12/11 at 100.00 | Aa2 | 360,546 | ||||||||||||||
500 | Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2009, 6.000%, 6/15/28 |
1/14 at 100.00 | AA | 525,485 | ||||||||||||||
450 | Omaha, Nebraska, General Obligation Bonds, Refunding Series 2008, 5.750%, 10/15/28 |
10/18 at 100.00 | AAA | 523,949 | ||||||||||||||
1,000 | Puerto Rico, General Obligation Bonds, Public Improvement, Series 2011A, 5.750%, 7/01/41 |
7/21 at 100.00 | Baa1 | 987,960 | ||||||||||||||
375 | Puerto Rico, General Obligation Bonds, Public Improvment Refunding Series 2008A, 5.250%, 7/01/26 |
7/18 at 100.00 | Baa1 | 379,804 | ||||||||||||||
250 | Puerto Rico, General Obligation Bonds, Refunding Series 2003C-7, 6.000%, 7/01/27 NPFG Insured |
7/18 at 100.00 | Baa1 | 262,458 | ||||||||||||||
650 | Saunders County, Nebraska, General Obligation Bonds, Series 2006, 5.000%, 11/01/30 AGM Insured |
1/12 at 100.00 | AA+ | 652,802 | ||||||||||||||
3,770 | Total Tax Obligation/General |
3,900,950 | ||||||||||||||||
Tax Obligation/Limited 5.7% |
||||||||||||||||||
500 | Lincoln-West Haymarket Joint Public Agency, Nebraska, General Obligation Facility Bonds, Series 2011, 5.000%, 12/15/42 |
12/21 at 100.00 | AAA | 536,785 | ||||||||||||||
750 | Lincoln-Lancaster County, Nebraska, Public Building Commission Tax Supported Lease Rental Revenue Building Bonds, Refunding Series 2005, 4.500%, 10/15/26 |
4/15 at 100.00 | Aaa | 770,265 | ||||||||||||||
500 | Omaha, Nebraska, Special Tax Redevelopment Bonds, Redevelopment 2002A, 5.125%, 2/01/32 |
2/12 at 101.00 | AA+ | 506,845 | ||||||||||||||
650 | Omaha, Nebraska, Special Tax Redevelopment Bonds, Redevelopment 2008, 5.250%, 10/15/28 |
10/18 at 100.00 | AA+ | 710,632 | ||||||||||||||
2,400 | Total Tax Obligation/Limited |
2,524,527 |
32 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
U.S. Guaranteed 1.1% (4) |
||||||||||||||||||
$ | 500 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Faith Regional Health Services Project, Series 2002, 5.500%, 7/01/21 (Pre-refunded 1/01/12) RAAI Insured |
1/12 at 100.00 | N/R | (4) | $ | 508,475 | |||||||||||
Utilities 25.4% |
||||||||||||||||||
1,000 | Arkansas River Power Authority, Colorado, Power Revenue Bonds, Improvement Series 2010, 6.125%, 10/01/40 |
10/20 at 100.00 | BBB | 999,940 | ||||||||||||||
750 | Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 12/01/21 |
No Opt. Call | Ba3 | 745,200 | ||||||||||||||
750 | City of Grand Island, Nebraska, Electric System Revenue Bonds, Series 2001, 5.125%, 8/15/16 NPFG Insured |
11/11 at 100.00 | AA | 752,858 | ||||||||||||||
585 | Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2006, 4.650%, 8/01/23 AMBAC Insured |
8/16 at 100.00 | A2 | 612,571 | ||||||||||||||
250 | Lincoln, Nebraska, Electric System Revenue Bonds, Refunding Series 2003, 5.000%, 9/01/26 |
9/13 at 100.00 | AA | 263,145 | ||||||||||||||
150 | Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series 2009A, 5.375%, 4/01/39 BHAC Insured |
4/19 at 100.00 | AA+ | 159,786 | ||||||||||||||
500 | Nebraska Public Power District, General Revenue Bonds, Series 2008B, 5.000%, 1/01/33 |
1/18 at 100.00 | A1 | 518,495 | ||||||||||||||
100 | Nebraska Public Power District, Power Supply System Revenue Bonds, Series 2006A, 5.000%, 1/01/41 FGIC Insured |
1/16 at 100.00 | A1 | 101,687 | ||||||||||||||
1,045 | Nebraska Utility Corporation, Revenue Bonds, University of Nebraksa Lincoln Project, Series 2001, 5.250%, 1/01/15 |
1/12 at 100.00 | Aa1 | 1,062,807 | ||||||||||||||
Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2008A: |
||||||||||||||||||
1,000 | 5.500%, 2/01/33 |
No Opt. Call | Aa1 | 1,092,690 | ||||||||||||||
1,200 | 5.500%, 2/01/35 |
No Opt. Call | Aa1 | 1,303,415 | ||||||||||||||
1,000 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series WW, 5.250%, 7/01/25 |
7/18 at 100.00 | A3 | 1,025,589 | ||||||||||||||
1,500 | Southern Nebraska Public Power District, Electric System Revenue Bonds, Series 2008, 5.250%, 12/15/28 |
12/18 at 100.00 | AA | 1,656,839 | ||||||||||||||
1,000 | Twin Valleys Public Power District, Nebraska, Electric System Revenue Bonds, Series 2011, 5.000%, 9/15/35 |
6/16 at 100.00 | N/R | 1,012,559 | ||||||||||||||
10,830 | Total Utilities |
11,307,581 | ||||||||||||||||
Water and Sewer 2.3% |
||||||||||||||||||
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A: |
||||||||||||||||||
500 | 5.000%, 7/01/25 AGC Insured |
No Opt. Call | AA+ | 519,305 | ||||||||||||||
500 | 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 501,895 | ||||||||||||||
1,000 | Total Water and Sewer |
1,021,200 | ||||||||||||||||
$ | 42,915 | Total Municipal Bonds (cost $42,215,489) |
43,900,933 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 0.1% |
||||||||||||||||||
Money Market Funds 0.1% |
||||||||||||||||||
59,497 | First American Tax Free Obligations Fund, Class Z, 0.002% (5) |
$ | 59,497 | |||||||||||||||
Total Short-Term Investments (cost $59,497) |
59,497 | |||||||||||||||||
Total Investments (cost $42,274,986) 98.7% |
43,960,430 | |||||||||||||||||
Other Assets Less Liabilities 1.3% |
576,324 | |||||||||||||||||
Net Assets 100% |
$ | 44,536,754 |
Nuveen Investments | 33 |
Portfolio of Investments (Unaudited)
Nuveen Nebraska Municipal Bond Fund (continued)
August 31, 2011
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 43,900,933 | $ | | $ | 43,900,933 | ||||||||
Short-Term Investments |
59,497 | | | 59,497 | ||||||||||||
Total |
$ | 59,497 | $ | 43,900,933 | $ | | $ | 43,960,430 |
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $42,274,986.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 1,915,872 | ||
Depreciation |
(230,428 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 1,685,444 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
34 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen Ohio Tax Free Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.3% |
||||||||||||||||||
Consumer Staples 0.3% |
||||||||||||||||||
$ | 200 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/30 |
6/17 at 100.00 | Baa3 | $ | 151,022 | ||||||||||||
Education and Civic Organizations 13.5% |
||||||||||||||||||
400 | Ohio Higher Education Facilities Commission, Revenue Bonds, College of Wooster Project, Series 2005, 5.000%, 9/01/20 |
9/15 at 100.00 | A1 | 428,464 | ||||||||||||||
1,000 | Ohio Higher Education Facilities Commission, Revenue Bonds, John Carroll University, Series 1997, 5.000%, 4/01/19 |
4/16 at 100.00 | A3 | 1,083,240 | ||||||||||||||
1,000 | Ohio Higher Education Facilities Commission, Revenue Bonds, Mount Union College, Series 2006, 5.000%, 10/01/31 |
10/16 at 100.00 | A3 | 1,021,540 | ||||||||||||||
Ohio Higher Education Facilities Commission, Revenue Bonds, Ohio Northern University, Series 2005: |
||||||||||||||||||
250 | 5.000%, 5/01/20 |
5/15 at 100.00 | Baa2 | 252,315 | ||||||||||||||
1,000 | 5.000%, 5/01/26 |
5/15 at 100.00 | Baa2 | 950,040 | ||||||||||||||
505 | Ohio Higher Education Facilities Commission, Revenue Bonds, Wittenberg University, Series 2005, 5.000%, 12/01/24 |
12/15 at 100.00 | Ba1 | 436,320 | ||||||||||||||
645 | Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Refunding Series 2009, 5.375%, 12/01/29 |
12/18 at 100.00 | A | 687,957 | ||||||||||||||
500 | Ohio Higher Educational Facility Commission, Higher Educational Facility Revenue Bonds, Xavier University Project, Series 2010, 5.000%, 5/01/40 |
5/20 at 100.00 | A | 508,940 | ||||||||||||||
750 | Ohio State, Higher Educational Facility Revenue Bonds, Baldwin-Wallace College Project, Series 2004, 5.000%, 12/01/13 |
No Opt. Call | A | 808,815 | ||||||||||||||
500 | Ohio State, Higher Educational Facility Revenue Bonds, Otterbein College Project, Series 2008A, 5.500%, 12/01/28 |
12/18 at 100.00 | A3 | 537,000 | ||||||||||||||
250 | Port of Greater Cincinnati Development Authority, Ohio, Economic Development Revenue Bonds, Sisters of Mercy of the Americas, Series 2006, 5.000%, 10/01/25 |
10/16 at 100.00 | N/R | 251,683 | ||||||||||||||
6,800 | Total Education and Civic Organizations |
6,966,314 | ||||||||||||||||
Health Care 23.6% |
||||||||||||||||||
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series 2010A: |
||||||||||||||||||
100 | 5.250%, 6/01/38 |
6/20 at 100.00 | AA | 100,409 | ||||||||||||||
250 | 5.000%, 6/01/38 |
6/20 at 100.00 | AA | 243,153 | ||||||||||||||
500 | Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series 2010B, 4.125%, 9/01/20 |
No Opt. Call | AA | 521,200 | ||||||||||||||
750 | Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.500%, 11/01/22 |
11/20 at 100.00 | BBB+ | 795,368 | ||||||||||||||
345 | Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2003, 5.000%, 6/15/22 RAAI Insured |
6/12 at 100.00 | Baa2 | 339,135 | ||||||||||||||
750 | Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Childrens Hospital Project, Improvement Series 2009, 5.000%, 11/01/34 |
11/19 at 100.00 | Aa2 | 757,965 | ||||||||||||||
365 | Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Childrens Hospital Project, Series 2005, 4.750%, 11/01/23 |
11/18 at 100.00 | Aa2 | 385,852 | ||||||||||||||
640 | Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A, 5.000%, 11/15/41 |
11/21 at 100.00 | AA | 640,461 | ||||||||||||||
500 | Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2010C, 4.500%, 12/01/37 |
12/20 at 100.00 | AA | 459,535 | ||||||||||||||
750 | Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.625%, 8/15/29 |
8/18 at 100.00 | Baa1 | 733,815 | ||||||||||||||
350 | Lorain County, Ohio, Hospital Revenue Refunding and Improvement Bonds, Catholic Healthcare Partners, Refunding Series 2002, 5.500%, 10/01/17 |
10/12 at 100.00 | AA | 365,953 |
Nuveen Investments | 35 |
Portfolio of Investments (Unaudited)
Nuveen Ohio Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 400 | Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2008D, 5.000%, 11/15/38 |
11/18 at 100.00 | AA | $ | 396,444 | ||||||||||||
575 | Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 |
11/21 at 100.00 | AA | 620,477 | ||||||||||||||
500 | Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center Inc., Series 2006, 5.250%, 5/15/26 |
5/16 at 100.00 | A | 506,820 | ||||||||||||||
750 | Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Refunding Series 2009A, 5.000%, 5/01/39 |
5/19 at 100.00 | AA | 754,223 | ||||||||||||||
100 | Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.250%, 10/01/33 |
10/18 at 100.00 | AA | 109,117 | ||||||||||||||
500 | Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, University Hospitals Health System, Series 2009, 6.750%, 1/15/39 |
1/15 at 100.00 | A | 518,955 | ||||||||||||||
1,990 | Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated Group, Series 2009A, 5.500%, 1/01/39 |
1/19 at 100.00 | Aa2 | 2,073,859 | ||||||||||||||
535 | Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006, 5.250%, 11/15/36 |
11/16 at 100.00 | A | 535,920 | ||||||||||||||
500 | Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008, 5.500%, 12/01/28 |
12/18 at 100.00 | A | 511,345 | ||||||||||||||
800 | Scioto County, Ohio, Hospital Facilities Refunding Revenue Bonds, Southern Ohio Medical Center, Series 2008, 5.750%, 2/15/38 |
2/18 at 100.00 | A2 | 808,992 | ||||||||||||||
11,950 | Total Health Care |
12,178,998 | ||||||||||||||||
Housing/Multifamily 1.0% |
||||||||||||||||||
500 | Bowling Green, Ohio, Student Housing Revenue Bonds, CFP I LLC Bowling Green State University Project, Series 2010, 5.750%, 6/01/31 |
6/20 at 100.00 | BBB | 487,855 | ||||||||||||||
Housing/Single Family 3.9% |
||||||||||||||||||
440 | Ohio Housing Finance Agency, GNMA Mortgage-Backed Securities Program Residential Mortgage Revenue Bonds, Series 2006E, 4.850%, 9/01/26 (Alternative Minimum Tax) |
3/16 at 100.00 | Aaa | 444,338 | ||||||||||||||
600 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2008F, 5.450%, 9/01/33 |
3/18 at 100.00 | Aaa | 630,090 | ||||||||||||||
880 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2009C, 5.200%, 9/01/29 |
9/18 at 100.00 | Aaa | 914,927 | ||||||||||||||
1,920 | Total Housing/Single Family |
1,989,355 | ||||||||||||||||
Long-Term Care 4.1% |
||||||||||||||||||
500 | Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26 |
7/21 at 100.00 | BBB | 503,935 | ||||||||||||||
800 | Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Presbyterian Retirement Services, Improvement Series 2005A, 5.000%, 7/01/26 |
7/15 at 100.00 | BBB | 758,960 | ||||||||||||||
400 | Hamilton County, Ohio, Health Care Revenue Refunding Bonds, Life Enriching Communities Project, Series 2006A, 5.000%, 1/01/27 |
1/17 at 100.00 | BBB | 373,536 | ||||||||||||||
500 | Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding & improvement Series 2010, 6.625%, 4/01/40 |
4/20 at 100.00 | BBB | 497,740 | ||||||||||||||
2,200 | Total Long-Term Care |
2,134,171 | ||||||||||||||||
Tax Obligation/General 22.2% |
||||||||||||||||||
300 | Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, School Improvement, Refunding Series 2010, 5.250%, 6/01/21 |
6/20 at 100.00 | Aa2 | 357,138 | ||||||||||||||
Cincinnati City School District, Hamilton County, Ohio, General Obligation Bonds, Series 2006: |
||||||||||||||||||
535 | 5.250%, 12/01/19 NPFG Insured |
No Opt. Call | Aa2 | 648,752 | ||||||||||||||
380 | 5.250%, 12/01/27 NPFG Insured |
No Opt. Call | Aa2 | 448,104 |
36 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
$ | 150 | Cincinnati, Ohio, Various Purpose General Obligation Bonds, Series 2009A, 4.500%, 12/01/29 |
6/19 at 100.00 | AA+ | $ | 157,446 | ||||||||||||
1,320 | Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2009B, 5.000%, 12/01/27 |
12/19 at 100.00 | AA | 1,444,410 | ||||||||||||||
750 | Cuyahoga Falls, Ohio, General Obligation Bonds, Various Purpose Refunding Series 2009, 4.250%, 12/01/34 |
12/17 at 100.00 | Aa2 | 765,023 | ||||||||||||||
500 | Dayton City School District, Montgomery County, Ohio, General Obligation Bonds, Series 2003D, 5.000%, 12/01/11 NPFG Insured |
No Opt. Call | A1 | 505,835 | ||||||||||||||
690 | Franklin County, Ohio, General Obligation Bonds, Series 2007, 4.500%, 12/01/27 |
12/17 at 100.00 | AAA | 725,432 | ||||||||||||||
400 | Gahanna, Ohio, General Obligation Bonds, Various Purpose Series 2007, 5.000%, 12/01/27 NPFG Insured |
12/17 at 100.00 | Aa1 | 428,872 | ||||||||||||||
1,000 | Greene County, Ohio, General Obligation Bonds, General Infrastructure Series 2007, 5.250%, 12/01/26 AMBAC Insured |
12/17 at 100.00 | Aa2 | 1,093,020 | ||||||||||||||
Highland Local School District, Morrow and Delaware Counties, Ohio, General Obligation Bonds, School Facilities Construction and Improvement Series 2008: |
||||||||||||||||||
100 | 0.000%, 12/01/22 |
No Opt. Call | Aa2 | 63,807 | ||||||||||||||
1,000 | 5.375%, 12/01/33 |
12/18 at 100.00 | Aa2 | 1,091,980 | ||||||||||||||
1,000 | Ohio, General Obligation Bonds, Infrastructure Improvements, Refunding Series 2002A, 5.500%, 2/01/20 |
No Opt. Call | AA+ | 1,250,090 | ||||||||||||||
600 | Saint Marys City School District, Auglaize County, Ohio, General Obligation Bonds, School Facilities Construction and Improvement, Series 2008, 5.000%, 12/01/28 AGM Insured |
6/18 at 100.00 | Aa2 | 636,426 | ||||||||||||||
755 | Sidney City School District, Shelby County, Ohio, General Obligation Bonds, Refunding Series 2007, 4.375%, 12/01/27 NPFG Insured |
12/17 at 100.00 | Aa3 | 774,683 | ||||||||||||||
1,000 | Solon, Ohio, General Obligation Refunding and Improvement Bonds, Series 2002, 5.000%, 12/01/21 |
12/12 at 100.00 | AAA | 1,052,060 | ||||||||||||||
10,480 | Total Tax Obligation/General |
11,443,078 | ||||||||||||||||
Tax Obligation/Limited 9.5% |
||||||||||||||||||
750 | Cleveland-Cuyahoga County Port Authority, Ohio, Development Revenue Bonds, R.I.T.A. Project, Series 2004, 5.000%, 11/15/19 RAAI Insured |
11/14 at 100.00 | N/R | 771,855 | ||||||||||||||
475 | Mahoning Career and Technology Center, Ohio, Certificate of Participation, Series 2009B, 4.750%, 12/01/36 |
12/17 at 100.00 | AA | 485,403 | ||||||||||||||
Mayfield City School District, Ohio, Certificates of Participation, Middle School Project, Series 2009B: |
||||||||||||||||||
435 | 0.000%, 9/01/27 |
No Opt. Call | Aa2 | 196,163 | ||||||||||||||
855 | 0.000%, 9/01/28 |
No Opt. Call | Aa2 | 361,409 | ||||||||||||||
1,000 | Ohio, State Appropriation Lease Bonds, Parks and Recreation Capital Facilities, Series 2005A-II, 5.250%, 2/01/20 AGM Insured |
2/15 at 100.00 | AA+ | 1,121,270 | ||||||||||||||
500 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.375%, 8/01/39 |
2/20 at 100.00 | A+ | 504,355 | ||||||||||||||
400 | Riversouth Authority, Ohio, Lazarus Building Redevelopment Bonds, Series 2007A, 5.750%, 12/01/27 |
12/17 at 100.00 | N/R | 363,960 | ||||||||||||||
1,000 | Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Series 2004A, 5.250%, 12/01/17 |
6/14 at 100.00 | AA+ | 1,099,500 | ||||||||||||||
5,415 | Total Tax Obligation/Limited |
4,903,915 | ||||||||||||||||
Transportation 2.0% |
||||||||||||||||||
1,000 | Columbus Regional Airport Authority, Ohio, Revenue Bonds, Refunding Series 2007, 5.000%, 1/01/28 NPFG Insured |
1/17 at 100.00 | A+ | 1,035,160 |
Nuveen Investments | 37 |
Portfolio of Investments (Unaudited)
Nuveen Ohio Tax Free Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
U.S. Guaranteed 4.0% (4) |
||||||||||||||||||
$ | 1,000 | Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Water Quality Project, Series 2002, 5.050%, 12/01/21 (Pre-refunded 6/01/12) |
6/12 at 100.00 | AAA | $ | 1,036,570 | ||||||||||||
1,000 | Ohio, Common Schools General Obligation Bonds, Series 2002A, 5.125%, 9/15/22 (Pre-refunded 3/15/12) |
3/12 at 100.00 | AA+ | (4) | 1,026,760 | |||||||||||||
2,000 | Total U.S. Guaranteed |
2,063,330 | ||||||||||||||||
Utilities 7.1% |
||||||||||||||||||
1,000 | American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project Series 2008A, 5.000%, 2/15/31 |
2/18 at 100.00 | A1 | 1,039,930 | ||||||||||||||
1,000 | Hamilton, Ohio, Electric System Revenue Bonds, Refunding Series 2002A, 4.300%, 10/15/16 AGM Insured |
10/15 at 101.00 | Aa3 | 1,129,240 | ||||||||||||||
500 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Corp. Project, Series 2010A, 3.375%, 7/01/33 (Mandatory put 7/01/15) |
No Opt. Call | BBB | 516,720 | ||||||||||||||
500 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, FirstEnergy Generation Corp. Project, Series 2009A, 5.700%, 8/01/20 |
No Opt. Call | BBB | 540,975 | ||||||||||||||
400 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series WW, 5.375%, 7/01/23 |
7/18 at 100.00 | A3 | 423,140 | ||||||||||||||
3,400 | Total Utilities |
3,650,005 | ||||||||||||||||
Water and Sewer 7.1% |
||||||||||||||||||
930 | Hamilton County, Ohio, Sewer System Revenue and Improvement Bonds, Metropolitan Sewer District of Greater Cincinnati, Series 2006A, 5.000%, 12/01/26 NPFG Insured |
No Opt. Call | AA+ | 997,016 | ||||||||||||||
450 | Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%, 12/01/40 AGM Insured |
12/20 at 100.00 | Aa3 | 464,440 | ||||||||||||||
250 | Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2006, 5.250%, 12/01/25 SYNCORA GTY Insured |
12/16 at 100.00 | A | 264,224 | ||||||||||||||
1,000 | Montgomery County, Ohio, Water System Revenue Bonds, Greater Moraine Beaver District, Series 2002 Refunding, 5.375%, 11/15/16 AMBAC Insured |
11/12 at 100.00 | N/R | 1,034,729 | ||||||||||||||
700 | Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Series 2007, 4.500%, 11/15/37 NPFG Insured |
No Opt. Call | AA+ | 685,705 | ||||||||||||||
200 | Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Water Quality Project, Series 2010A, 5.000%, 6/01/30 |
12/19 at 100.00 | AAA | 217,957 | ||||||||||||||
3,530 | Total Water and Sewer |
3,664,071 | ||||||||||||||||
$ | 49,395 | Total Municipal Bonds (cost $48,779,955) |
50,667,274 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 0.8% |
||||||||||||||||||
Money Market Funds 0.8% |
||||||||||||||||||
412,405 | First American Tax Free Obligations Fund, Class Z, 0.002% (5) |
$ | 412,405 | |||||||||||||||
Total Short-Term Investments (cost $412,405) |
412,405 | |||||||||||||||||
Total Investments (cost $49,192,360) 99.1% |
51,079,679 | |||||||||||||||||
Other Assets Less Liabilities 0.9% |
441,033 | |||||||||||||||||
Net Assets 100% |
$ | 51,520,712 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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
38 | Nuveen Investments |
or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements 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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 50,667,274 | $ | | $ | 50,667,274 | ||||||||
Short-Term Investments |
412,405 | | | 412,405 | ||||||||||||
Total |
$ | 412,405 | $ | 50,667,274 | $ | | $ | 51,079,679 |
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $49,192,360.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 2,275,400 | ||
Depreciation |
(388,081 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 1,887,319 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
Nuveen Investments | 39 |
Portfolio of Investments (Unaudited)
Nuveen Oregon Intermediate Municipal Bond Fund
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
MUNICIPAL BONDS 98.4% |
||||||||||||||||||
Education and Civic Organizations 8.3% |
||||||||||||||||||
$ | 2,350 | Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Refunding Series 2005A, 5.000%, 5/01/22 RAAI Insured |
5/15 at 100.00 | BBB | $ | 2,359,988 | ||||||||||||
250 | Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Series 2009, 5.750%, 5/01/24 |
5/14 at 100.00 | BBB | 258,325 | ||||||||||||||
1,140 | Oregon State Facilities Authority, Revenue Bonds, Concordia University Project, Series 2010A, 6.125%, 9/01/30 |
9/20 at 100.00 | BB+ | 1,160,896 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, Lewis & Clark College Project, Refunding Series 2011A: |
||||||||||||||||||
625 | 4.000%, 10/01/17 |
No Opt. Call | A | 683,131 | ||||||||||||||
500 | 5.250%, 10/01/24 |
10/21 at 100.00 | A | 552,300 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Bonds, Linfield College, Refunding Series 2005A, 5.000%, 10/01/25 |
10/15 at 100.00 | Baa1 | 1,031,520 | ||||||||||||||
500 | Oregon State Facilities Authority, Revenue Bonds, Linfield College, Series 2010A, 4.750%, 10/01/28 |
10/20 at 100.00 | Baa1 | 508,100 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Bonds, Reed College, Refunding Series 2011A, 5.000%, 7/01/29 |
7/20 at 100.00 | Aa2 | 1,103,890 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, University of Portland Projects, Series 2007A: |
||||||||||||||||||
1,000 | 4.250%, 4/01/14 |
No Opt. Call | BBB+ | 1,062,730 | ||||||||||||||
250 | 5.000%, 4/01/17 |
No Opt. Call | BBB+ | 282,098 | ||||||||||||||
2,000 | 4.500%, 4/01/21 |
4/18 at 100.00 | BBB+ | 2,115,440 | ||||||||||||||
200 | Oregon State Facilities Authority, Revenue Bonds, Willamette University, Refunding Series 2010A, 4.000%, 10/01/24 |
4/20 at 100.00 | A | 203,636 | ||||||||||||||
1,085 | Oregon State Facilities Authority, Revenue Bonds, Willamette University, Series 2007A, 4.300%, 10/01/21 |
10/17 at 100.00 | A | 1,131,557 | ||||||||||||||
11,900 | Total Education and Civic Organizations |
12,453,611 | ||||||||||||||||
Health Care 13.9% |
||||||||||||||||||
1,000 | Clackamas County Hospital Facility Authority, Oregon, Revenue Bonds, Legacy Health System, Series 2009A, 5.000%, 7/15/21 |
7/19 at 100.00 | A+ | 1,073,130 | ||||||||||||||
1,200 | Clackamas County Hospital Facility Authority, Oregon, Revenue Bonds, Willamette Falls Hospital, Series 2002, 5.500%, 4/01/22 RAAI Insured |
4/12 at 100.00 | Baa2 | 1,205,232 | ||||||||||||||
250 | Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Bonds, Cascade Healthcare Community, Inc., Series 2005B, 5.000%, 1/01/16 AMBAC Insured |
No Opt. Call | A3 | 270,378 | ||||||||||||||
1,500 | Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Refunding Bonds, Cascade Healthcare Community, Inc., Series 2008, 7.375%, 1/01/23 |
1/19 at 100.00 | A3 | 1,819,965 | ||||||||||||||
960 | Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Merle West Medical Center Project, Series 2006, 4.750%, 9/01/20 AGC Insured |
9/16 at 100.00 | AA+ | 1,006,301 | ||||||||||||||
1,900 | Medford Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Asante Health System, Refunding Series 2010, 5.500%, 8/15/28 AGM Insured |
8/20 at 100.00 | AA+ | 2,087,948 | ||||||||||||||
Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Adventist Health System/West, Series 2009A: |
||||||||||||||||||
1,875 | 5.000%, 9/01/21 |
9/19 at 100.00 | A | 2,078,456 | ||||||||||||||
440 | 4.500%, 9/01/21 |
9/19 at 100.00 | A | 472,472 | ||||||||||||||
1,000 | Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Sisters of Providence Health System, Series 2004, 5.250%, 10/01/22 |
10/14 at 100.00 | AA | 1,096,220 | ||||||||||||||
1,000 | Oregon Health Sciences University, Revenue Bonds, Series 2002A, 5.250%, 7/01/22 NPFG Insured |
1/13 at 100.00 | A1 | 1,022,820 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Auction Rate Revenue Bonds, Peacehealth System, Refunding Series 2009A, 5.000%, 11/01/20 |
11/19 at 100.00 | A+ | 1,136,890 |
40 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
Oregon State Facilities Authority, Oregon, Revenue Bonds, Samaritan Health Services, Refunding Series 2010A: |
||||||||||||||||||
$ | 1,250 | 5.000%, 10/01/19 |
No Opt. Call | A | $ | 1,385,625 | ||||||||||||
500 | 5.000%, 10/01/24 |
10/20 at 100.00 | A | 525,685 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, Legacy Health System, Refunding Series 2010A: |
||||||||||||||||||
2,000 | 4.250%, 3/15/17 |
No Opt. Call | A+ | 2,162,320 | ||||||||||||||
1,000 | 4.750%, 3/15/24 |
3/20 at 100.00 | A+ | 1,032,730 | ||||||||||||||
1,500 | Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Hospital Project, Series 2008A, 5.750%, 8/15/23 |
8/18 at 100.00 | A+ | 1,659,225 | ||||||||||||||
690 | Umatilla County Health Facility Authority, Oregon, Revenue Bonds, Catholic Health Initiatives, Series 2002A, 5.000%, 3/01/12 |
No Opt. Call | AA | 706,367 | ||||||||||||||
19,065 | Total Health Care |
20,741,764 | ||||||||||||||||
Housing/Multifamily 3.0% |
||||||||||||||||||
Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A: |
||||||||||||||||||
750 | 4.000%, 7/01/19 (Alternative Minimum Tax) |
No Opt. Call | Aaa | 754,230 | ||||||||||||||
500 | 4.250%, 7/01/21 (Alternative Minimum Tax) |
1/20 at 100.00 | Aaa | 502,590 | ||||||||||||||
705 | Portland Housing Authority, Oregon, Housing Revenue Refundign Bonds, Yards at Union Station Project, Series 2007, 4.750%, 5/01/22 (Alternative Minimum Tax) |
5/17 at 100.00 | Aa2 | 721,300 | ||||||||||||||
Portland, Oregon, Economic Development Revenue Refunding Bonds, Broadway Project, Series 2008A: |
||||||||||||||||||
880 | 5.125%, 4/01/16 |
No Opt. Call | A+ | 1,016,884 | ||||||||||||||
1,355 | 6.250%, 4/01/23 |
4/18 at 100.00 | A+ | 1,573,833 | ||||||||||||||
4,190 | Total Housing/Multifamily |
4,568,837 | ||||||||||||||||
Housing/Single Family 1.0% |
||||||||||||||||||
230 | Oregon Housing and Community Services Department, Single Family Mortgage Revenue Bonds, Series 2004A, 4.050%, 1/01/18 |
7/13 at 100.00 | Aa2 | 235,055 | ||||||||||||||
1,170 | Oregon Housing and Community Services Department, Single Family Mortgage Revenue Bonds, Series 2008D, 4.750%, 7/01/22 |
1/18 at 100.00 | Aa2 | 1,227,950 | ||||||||||||||
1,400 | Total Housing/Single Family |
1,463,005 | ||||||||||||||||
Long-Term Care 3.1% |
||||||||||||||||||
1,000 | Clackamas County Hospital Facility Authority, Oregon, Revenue Refunding Bonds, Robison Jewish Home, DBA Cedar Sinia Park, Series 2005, 5.125%, 10/01/24 |
10/15 at 100.00 | N/R | 876,000 | ||||||||||||||
1,000 | Illinois Finance Authority, Revenue Bonds, Franciscan Communities Inc., Refunding Series 2007A, 5.500%, 5/15/27 |
5/17 at 100.00 | N/R | 838,200 | ||||||||||||||
Multnomah County Hospital Facility Authority, Oregon, Revenue Bonds, Terwillger Plaza Project, Series 2009: |
||||||||||||||||||
1,000 | 5.250%, 12/01/26 |
12/16 at 100.00 | N/R | 989,580 | ||||||||||||||
1,900 | 6.500%, 12/01/29 |
12/11 at 100.00 | N/R | 1,904,503 | ||||||||||||||
4,900 | Total Long-Term Care |
4,608,283 | ||||||||||||||||
Tax Obligation/General 44.0% |
||||||||||||||||||
Beaverton School District 48J, Washington County, Oregon, General Obligation Bonds, Series 2004A: |
||||||||||||||||||
1,600 | 5.000%, 6/01/14 AGM Insured |
No Opt. Call | AA+ | 1,799,904 | ||||||||||||||
1,500 | 5.000%, 6/01/16 AGM Insured |
12/14 at 100.00 | AA+ | 1,696,890 | ||||||||||||||
Blue Mountain Hospital District, Grant County, Oregon, General Obligation Bonds, Refunding Series 2010: |
||||||||||||||||||
605 | 4.250%, 2/01/19 |
No Opt. Call | Baa1 | 656,576 | ||||||||||||||
655 | 4.500%, 2/01/20 |
No Opt. Call | Baa1 | 716,616 | ||||||||||||||
255 | 5.000%, 2/01/21 |
No Opt. Call | Baa1 | 285,452 |
Nuveen Investments | 41 |
Portfolio of Investments (Unaudited)
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
Central Oregon Community College District, Crook, Jefferson, Deschutes, Klamath, Lake, and Wasco Counties, Oregon, General Obligation Bonds, Series 2010: |
||||||||||||||||||
$ | 1,000 | 4.000%, 6/15/19 |
No Opt. Call | AA+ | $ | 1,149,090 | ||||||||||||
800 | 4.500%, 6/15/20 |
No Opt. Call | AA+ | 946,992 | ||||||||||||||
1,000 | Chemeketa Community College District, Oregon, General Obligation Bonds, Series 2008, 5.500%, 6/15/24 |
6/18 at 100.00 | AA+ | 1,154,340 | ||||||||||||||
City of The Dalles, Wasco County, Oregon, General Obligation Bonds, Series 2008: |
||||||||||||||||||
130 | 4.000%, 6/01/17 |
No Opt. Call | A+ | 146,090 | ||||||||||||||
140 | 4.000%, 6/01/18 |
No Opt. Call | A+ | 156,580 | ||||||||||||||
75 | 4.000%, 6/01/19 |
6/18 at 100.00 | A+ | 82,671 | ||||||||||||||
1,145 | Clackamas Community College District, Oregon, General Obligation Bonds, Series 2006, 5.000%, 5/01/19 NPFG Insured |
5/16 at 100.00 | AA | 1,289,236 | ||||||||||||||
1,975 | Clackamas County School District 115, Oregon, General Obligation Bond, Series 2006B, 4.500%, 6/15/21 NPFG Insured |
6/16 at 100.00 | AA+ | 2,151,703 | ||||||||||||||
Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2007B: |
||||||||||||||||||
685 | 5.000%, 6/15/19 AGM Insured |
No Opt. Call | AA+ | 800,909 | ||||||||||||||
3,665 | 5.000%, 6/15/21 AGM Insured |
6/17 at 100.00 | AA+ | 4,188,509 | ||||||||||||||
3,135 | 5.000%, 6/15/22 AGM Insured |
No Opt. Call | AA+ | 3,543,835 | ||||||||||||||
1,000 | Clackamas County School District 46 Oregon Trail, Oregon, General Obligation Bonds, Series 2009A, 5.000%, 6/15/24 |
6/19 at 100.00 | AA+ | 1,141,010 | ||||||||||||||
Clackamas County School District 86, Oregon, General Obligation Bonds, Series 2005: |
||||||||||||||||||
1,000 | 5.000%, 6/15/18 AGM Insured |
6/15 at 100.00 | AA+ | 1,127,440 | ||||||||||||||
1,305 | 5.000%, 6/15/21 AGM Insured |
6/15 at 100.00 | AA+ | 1,471,309 | ||||||||||||||
1,755 | Deschutes County, Oregon, General Obligation Bonds, Series 2002, 5.000%, 12/01/14 AGM Insured |
12/12 at 100.00 | Aa2 | 1,855,842 | ||||||||||||||
3,030 | Deshutes and Jefferson Counties School District 2J Redmond, Oregon, General Obligation Bonds, Deffered Imterest Series 2008, 0.000%, 6/15/22 |
No Opt. Call | Aa1 | 2,022,495 | ||||||||||||||
1,000 | Hillsboro School District 1J, Washington, Multnomah and Yamhill Counties, Oregon, General Obligation Refunding Bonds, Series 1998, 5.000%, 11/01/14 |
No Opt. Call | Aa2 | 1,141,570 | ||||||||||||||
1,000 | Josephine County Unit School District Three Rivers, Oregon, General Obligation Bonds, Refunding Series 2005, 5.000%, 12/15/19 NPFG Insured |
No Opt. Call | Aa1 | 1,219,530 | ||||||||||||||
905 | Keizer, Oregon, General Obligation Assessment Bonds, Keizer Station Area A Local Improvement District, Series 2008, 5.200%, 6/01/31 |
6/18 at 100.00 | A1 | 940,395 | ||||||||||||||
200 | Lake Oswego School District 7J, Clackamas County, Oregon, General Obligation Bonds, Refunding Series 2005, 5.250%, 6/01/25 AGM Insured |
No Opt. Call | Aa1 | 245,636 | ||||||||||||||
1,305 | Marion-Clackamas Counties School District 4J, Oregon, General Obligation Bonds, Series 2007, 4.500%, 6/15/22 NPFG Insured |
6/16 at 100.00 | Aa1 | 1,407,012 | ||||||||||||||
1,000 | McMinnville School District 40, Yamhill County, Oregon, General Obligation Bonds, Series 2001, 5.500%, 6/15/13 AGM Insured |
No Opt. Call | Aa3 | 1,093,400 | ||||||||||||||
1,000 | Metro, Oregon, General Obligation Bonds, Series 2002, 5.250%, 9/01/14 |
9/11 at 101.00 | AAA | 1,014,090 | ||||||||||||||
1,635 | Metro, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/01/20 |
6/17 at 100.00 | AAA | 1,903,500 | ||||||||||||||
1,000 | Multnomah-Clackamas Counties Centennial School District 28JT, Oregon, General Obligation Bonds, Series 2006, 0.000%, 6/01/16 AMBAC Insured |
12/11 at 83.27 | A1 | 827,260 | ||||||||||||||
1,000 | Multnomah-Clackamas Counties, Oregon, School District 10JT, General Obligation Bonds, Series 2005, 5.250%, 6/15/17 AGM Insured |
No Opt. Call | AA+ | 1,219,690 | ||||||||||||||
125 | North Lincoln Fire and Rescue District 1, Oregon, General Obligation Bonds, Series 2007, 4.250%, 2/01/18 AGM Insured |
2/17 at 100.00 | AA+ | 139,969 |
42 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
$ | 1,500 | Oregon Department of Administrative Services, General Obligation Bonds, Oregon Opportunity, Refunding Series 2010F, 5.000%, 12/01/20 |
6/20 at 100.00 | AA+ | $ | 1,833,255 | ||||||||||||
Oregon State, General Obligation Bonds, Alterrnative Energy Series 2011B: |
||||||||||||||||||
540 | 5.000%, 1/01/20 (Alternative Minimum Tax) |
No Opt. Call | AA+ | 617,593 | ||||||||||||||
535 | 5.000%, 1/01/21 (Alternative Minimum Tax) |
No Opt. Call | AA+ | 610,061 | ||||||||||||||
100 | 5.000%, 1/01/23 (Alternative Minimum Tax) |
1/21 at 100.00 | AA+ | 110,717 | ||||||||||||||
455 | Pacific City Joint Water-Sanitary Authority, Tilamook County, Oregon, General Obligation Bonds, Series 2007, 4.650%, 7/01/22 |
7/17 at 100.00 | N/R | 472,267 | ||||||||||||||
1,000 | Puerto Rico Government Development Bank, Senior Note Revenue Bonds, Senior Lien, Series 2006B, 5.000%, 12/01/14 |
No Opt. Call | Baa1 | 1,082,120 | ||||||||||||||
1,250 | Redmond School District 2J, Deshutes and Jefferson Counties, Oregon, General Obligation Bonds, Series 2004A, 5.000%, 6/15/13 NPFG Insured |
No Opt. Call | Aa1 | 1,352,013 | ||||||||||||||
Redmond, Oregon, General Obligation Bonds,Terminal Expansion Project, Series 2009: |
||||||||||||||||||
240 | 4.000%, 6/01/21 |
6/19 at 100.00 | A1 | 255,264 | ||||||||||||||
200 | 4.250%, 6/01/23 |
6/19 at 100.00 | A1 | 208,742 | ||||||||||||||
500 | 4.625%, 6/01/29 |
6/19 at 100.00 | A1 | 510,255 | ||||||||||||||
635 | Salem-Keizer School District 24J, Marion and Polk Counties, Oregon, General Obligation Bonds, Series 2009B, 0.000%, 6/15/22 |
No Opt. Call | AA+ | 423,856 | ||||||||||||||
1,150 | Salem-Keizer School District 24J, Marion County, Oregon, General Obligation Bonds, Series 2004, 5.000%, 6/15/14 AGM Insured |
No Opt. Call | AA+ | 1,293,819 | ||||||||||||||
Sandy, Clackamas County, Oregon, General Obligation Bonds, Series 2010: |
||||||||||||||||||
190 | 4.000%, 6/01/15 |
6/14 at 100.00 | AA | 206,416 | ||||||||||||||
150 | 4.000%, 6/01/16 |
6/14 at 100.00 | AA | 161,678 | ||||||||||||||
210 | 4.000%, 6/01/17 |
6/14 at 100.00 | AA | 224,505 | ||||||||||||||
240 | 4.000%, 6/01/18 |
6/14 at 100.00 | AA | 254,047 | ||||||||||||||
100 | 4.000%, 6/01/19 |
6/14 at 100.00 | AA | 105,180 | ||||||||||||||
1,030 | Tigard-Tualatin School District 23J, Washington and Clackamas Counties, Oregon, General Obligation Bonds, Series 2000, 0.000%, 6/15/14 |
No Opt. Call | Aa3 | 983,403 | ||||||||||||||
1,000 | Tigard-Tualatin School District 23J, Washington and Clackamas Counties, Oregon, General Obligation Refunding Bonds, Series 2001, 5.500%, 6/01/13 FGIC Insured |
No Opt. Call | Aa2 | 1,089,360 | ||||||||||||||
870 | Tualatin Hills Park and Recreation District, Oregon, General Obligation Bonds, Series 1998, 5.750%, 3/01/13 NPFG Insured |
No Opt. Call | Aa1 | 941,297 | ||||||||||||||
1,540 | Umatilla County School District 016R Pendleton, Oregon, General Obligation Bonds, Series 1998, 5.250%, 7/01/14 NPFG Insured |
No Opt. Call | Aa3 | 1,719,148 | ||||||||||||||
1,080 | Wasco County School District 012, Oregon, General Obligation Bonds, Series 2001 Refunding, 5.500%, 6/15/14 AGM Insured |
No Opt. Call | AA+ | 1,231,632 | ||||||||||||||
1,525 | Washington County, Oregon, General Obligation Bonds, Series 2006, 5.000%, 6/01/22 |
6/16 at 102.00 | Aa1 | 1,710,959 | ||||||||||||||
2,490 | Washington Multnomah & Yamhill Counties School District 1J Hillsboro, Oregon, General Obligation Bonds, Series 2006, 5.000%, 6/15/19 NPFG Insured |
No Opt. Call | Aa2 | 2,900,950 | ||||||||||||||
West Valley Fire District, Oregon, General Obligation Bonds, Series 2010: |
||||||||||||||||||
120 | 2.000%, 2/01/12 |
No Opt. Call | N/R | 120,253 | ||||||||||||||
120 | 3.000%, 2/01/13 |
No Opt. Call | N/R | 122,263 | ||||||||||||||
125 | 3.000%, 2/01/14 |
No Opt. Call | N/R | 128,581 | ||||||||||||||
125 | 3.000%, 2/01/15 |
No Opt. Call | N/R | 129,371 | ||||||||||||||
130 | 3.500%, 2/01/16 |
No Opt. Call | N/R | 137,002 | ||||||||||||||
135 | 4.000%, 2/01/17 |
No Opt. Call | N/R | 144,970 | ||||||||||||||
140 | 4.000%, 2/01/18 |
No Opt. Call | N/R | 149,666 | ||||||||||||||
145 | 4.000%, 2/01/19 |
No Opt. Call | N/R | 152,984 | ||||||||||||||
Yamhill County School District 29J Newberg, Oregon, General Obligation Bonds, Refunding Series 2005: |
||||||||||||||||||
1,260 | 5.250%, 6/15/15 FGIC Insured |
No Opt. Call | Aa1 | 1,467,900 | ||||||||||||||
1,835 | 5.250%, 6/15/16 FGIC Insured |
No Opt. Call | Aa1 | 2,186,531 |
Nuveen Investments | 43 |
Portfolio of Investments (Unaudited)
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
August 31, 2011
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
$ | 1,005 | Yamhill County School District 40, McMinnville, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/15/23 AGM Insured |
6/17 at 100.00 | Aa1 | $ | 1,120,253 | ||||||||||||
60,295 | Total Tax Obligation/General |
65,693,852 | ||||||||||||||||
Tax Obligation/Limited 9.7% |
||||||||||||||||||
1,010 | Medford Urban Renewal Agency, Jackson County, Oregon, Tax Revenue Bonds, Urban Redevelopment Refunding Series 2002, 4.500%, 6/01/13 |
1/13 at 101.00 | A | 1,059,005 | ||||||||||||||
1,060 | Oregon Department of Administrative Services, Certificates of Participation, Series 2006A, 5.000%, 11/01/18 NPFG Insured |
11/16 at 100.00 | AA | 1,212,979 | ||||||||||||||
1,500 | Oregon Department of Administrative Services, Certificates of Participation, Series 2009A, 4.700%, 5/01/25 |
5/19 at 100.00 | AA | 1,606,095 | ||||||||||||||
1,055 | Oregon Department of Administrative Services, Certificates of Participation, Series 2009C, 5.000%, 11/01/25 |
11/19 at 100.00 | AA | 1,160,067 | ||||||||||||||
700 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2005A, 5.000%, 11/15/24 |
11/14 at 100.00 | AAA | 744,723 | ||||||||||||||
1,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A, 5.000%, 11/15/21 |
No Opt. Call | AAA | 1,187,760 | ||||||||||||||
2,655 | Portland, Oregon, Renewal and Redevelopment Revenue Bonds, North Macadam Series 2010B, 5.000%, 6/15/24 |
6/20 at 100.00 | A1 | 2,865,887 | ||||||||||||||
2,030 | Portland, Oregon, South Park Blocks Urban Renewal and Redevelopment Bonds, Series 2008B, 5.000%, 6/15/21 |
6/18 at 101.00 | Aa3 | 2,234,340 | ||||||||||||||
1,000 | Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2007M, 5.500%, 7/01/35 AMBAC Insured |
No Opt. Call | Baa1 | 1,077,840 | ||||||||||||||
280 | Seaside Urban Renewal Agency, Clatsop County, Oregon, Greater Seaside Urban Renewal Area Revenue Bonds, Series 2006, 4.750%, 6/01/15 |
No Opt. Call | N/R | 297,839 | ||||||||||||||
1,000 | Tri-County Metropolitan Transportation District, Oregon, Capital Grant Receipt Revenue Bonds, Series 2011A, 5.000%, 10/01/25 |
10/21 at 100.00 | A1 | 1,106,330 | ||||||||||||||
13,290 | Total Tax Obligation/Limited |
14,552,865 | ||||||||||||||||
Transportation 1.8% |
||||||||||||||||||
1,000 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2010-20C, 5.000%, 7/01/17 (Alternative Minimum Tax) |
No Opt. Call | AA | 1,136,920 | ||||||||||||||
250 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2011-21, 5.000%, 7/01/17 (Alternative Minimum Tax) |
No Opt. Call | AA | 283,898 | ||||||||||||||
1,000 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2011, 5.000%, 7/01/23 (Alternative Minimum Tax) |
7/21 at 100.00 | AA | 1,074,690 | ||||||||||||||
215 | Redmond, Oregon, Airport Revenue Bonds, Series 2009, 5.500%, 6/01/24 |
6/19 at 100.00 | Baa3 | 222,097 | ||||||||||||||
2,465 | Total Transportation |
2,717,605 | ||||||||||||||||
U.S. Guaranteed 3.7% (4) |
||||||||||||||||||
2,170 | Chemeketa Community College District, Oregon, General Obligation Bonds, Refunding Series 1998, 5.500%, 6/01/13 FGIC Insured (ETM) |
No Opt. Call | N/R | (4) | 2,367,687 | |||||||||||||
1,000 | Linn County Community School District 9, Lebanon, Oregon, General Obligation Bonds, Series 2001, 5.550%, 6/15/21 (Pre-refunded 6/15/13) FGIC Insured |
6/13 at 100.00 | AA+ | (4) | 1,094,140 | |||||||||||||
1,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2002A, 5.500%, 11/15/16 (Pre-refunded 11/15/12) |
11/12 at 100.00 | AAA | 1,063,400 | ||||||||||||||
1,000 | Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2004J, 5.000%, 7/01/36 (Mandatory put 7/01/12) AMBAC Insured |
No Opt. Call | Baa1 | (4) | 1,023,930 | |||||||||||||
5,170 | Total U.S. Guaranteed |
5,549,157 | ||||||||||||||||
Utilities 0.6% |
||||||||||||||||||
800 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series WW, 5.375%, 7/01/23 |
7/18 at 100.00 | A3 | 846,280 |
44 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Water and Sewer 9.3% |
||||||||||||||||||
$ | 820 | Lane County Metropolitan Wastewater Management Commission, Oregon, Wastewater Revenue Bonds, Series 2006, 5.000%, 11/01/21 NPFG Insured |
11/16 at 100.00 | Aa2 | $ | 904,526 | ||||||||||||
1,500 | Lane County Metropolitan Wastewater Management Commission, Oregon, Wastewater Revenue Bonds, Series 2008, 5.000%, 11/01/22 |
11/18 at 100.00 | Aa2 | 1,688,805 | ||||||||||||||
Lebanon, Oregon, Wastewater Revenue Bonds, Refunding Series 2010: |
||||||||||||||||||
165 | 4.000%, 3/01/17 AGM Insured |
No Opt. Call | AA+ | 185,622 | ||||||||||||||
435 | 4.000%, 3/01/18 AGM Insured |
No Opt. Call | AA+ | 488,431 | ||||||||||||||
1,000 | Portland, Oregon, Sewer System Revenue Bonds, Refunding First Lien Series 2008A, 4.750%, 6/15/24 |
No Opt. Call | AA | 1,101,430 | ||||||||||||||
1,175 | Portland, Oregon, Sewer System Revenue Bonds, Series 2006B, 5.000%, 6/15/23 NPFG Insured |
6/16 at 100.00 | AA | 1,289,116 | ||||||||||||||
2,000 | Portland, Oregon, Water System Revenue Bonds, Refunding Series 2010A, 5.000%, 5/01/15 |
No Opt. Call | Aaa | 2,325,380 | ||||||||||||||
500 | Portland, Oregon, Water System Revenue Bonds, Second Lien Series 2006A, 4.375%, 10/01/24 NPFG Insured |
10/16 at 100.00 | Aa1 | 527,589 | ||||||||||||||
1,500 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/25 AGC Insured |
No Opt. Call | AA+ | 1,557,914 | ||||||||||||||
450 | Redmond, Oregon, Water Revenue Bonds, Series 2010, 4.500%, 6/01/25 |
6/20 at 100.00 | A1 | 488,056 | ||||||||||||||
325 | The Dalles, Oregon, Water Revenue Bonds, Series 200, 4.250%, 6/01/20 AMBAC Insured |
6/17 at 100.00 | N/R | 355,182 | ||||||||||||||
1,790 | Washington County, Oregon, Clean Water Services Sewer Revenue Bonds, Senior Lien Series 2001, 5.125%, 10/01/14 NPFG Insured |
10/11 at 100.00 | AA | 1,796,908 | ||||||||||||||
1,000 | Washington County, Oregon, Clean Water Services Sewer Revenue Bonds, Senior Lien Series 2004, 5.000%, 10/01/14 NPFG Insured |
No Opt. Call | AA | 1,138,169 | ||||||||||||||
12,660 | Total Water and Sewer |
13,847,128 | ||||||||||||||||
$ | 136,135 | Total Municipal Bonds (cost $137,771,613) |
147,042,387 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS 0.6% |
||||||||||||||||||
Money Market Funds 0.6% |
||||||||||||||||||
822,429 | First American Tax Free Obligations Fund, Class Z, 0.002% (5) |
$ | 822,429 | |||||||||||||||
Total Short-Term Investments (cost $822,429) |
822,429 | |||||||||||||||||
Total Investments (cost $138,594,042) 99.0% |
147,864,816 | |||||||||||||||||
Other Assets Less Liabilities 1.0% |
1,424,023 | |||||||||||||||||
Net Assets 100% |
$ | 149,288,839 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive 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 entitys 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
Level 1 | Quoted prices in active markets for identical securities. | |
Level 2 | Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 | Significant unobservable inputs (including managements assumptions in determining the fair value of investments). |
Nuveen Investments | 45 |
Portfolio of Investments (Unaudited)
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
August 31, 2011
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 Funds fair value measurements as of August 31, 2011:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: |
||||||||||||||||
Municipal Bonds |
$ | | $ | 147,042,387 | $ | | $ | 147,042,387 | ||||||||
Short-Term Investments |
822,429 | | | 822,429 | ||||||||||||
Total |
$ | 822,429 | $ | 147,042,387 | $ | | $ | 147,864,816 |
During the period ended August 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
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 certain gains and losses on investment transactions. 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.
At August 31, 2011, the cost of investments was $138,594,042.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2011, were as follows:
Gross unrealized: |
||||
Appreciation |
$ | 9,616,912 | ||
Depreciation |
(346,138 | ) | ||
Net unrealized appreciation (depreciation) of investments |
$ | 9,270,774 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest of Standard & Poors Group (Standard & Poors), Moodys Investor Service, Inc. (Moodys) or Fitch, Inc. (Fitch) rating. Ratings below BBB by Standard & Poors, Baa by Moodys or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of August 31, 2011. |
N/R | Not rated. |
(ETM) | Escrowed to maturity. |
46 | Nuveen Investments |
Item 2. Controls and Procedures.
(a) | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrants 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 registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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 Investment Funds, Inc.
By (Signature and Title) |
/s/ Kevin J. McCarthy | |
Vice President and Secretary |
Date: October 28, 2011
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/ Gifford R. Zimmerman | |
Chief Administrative Officer (principal executive officer) |
Date: October 28, 2011
By (Signature and Title) |
/s/ Stephen D. Foy | |
Vice President and Controller (principal financial officer) |
Date: October 28, 2011
CERTIFICATIONS
I, Gifford R. Zimmerman, certify that:
1. | I have reviewed this report on Form N-Q of Nuveen Investment Funds, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: October 28, 2011
/S/ GIFFORD R. ZIMMERMAN
|
Chief Administrative Officer (principal executive officer) |
CERTIFICATIONS
I, Stephen D. Foy, certify that:
1. | I have reviewed this report on Form N-Q of Nuveen Investment Funds, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: October 28, 2011
/S/ STEPHEN D. FOY
|
Vice President and Controller (principal financial officer) |