UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 811-05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, IL 60606

(Address of principal executive offices) (Zip code)

Kathleen L. Prudhomme

Vice President and Secretary

901 Marquette Avenue Minneapolis, Minnesota 55402

(Name and address of agent for service)

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

Date of fiscal year end: March 31

Date of reporting period: September 30, 2017

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

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.

Item 1. Reports to Stockholders.

Mutual Funds

Nuveen Municipal

Bond Funds

It’s not what you earn, it’s what you keep.^®

Semi-Annual Report  September 30, 2017

	Class / Ticker Symbol
Fund Name	Class A	Class C	Class C2	Class R6	Class I
Nuveen All-American Municipal Bond Fund	FLAAX	FACCX	FAACX	FAAWX	FAARX
Nuveen Inflation Protected Municipal Bond Fund	NITAX	NAADX	NIPCX	—	NIPIX
Nuveen Intermediate Duration Municipal Bond Fund	NMBAX	NNCCX	NNSCX	—	NUVBX
Nuveen Limited Term Municipal Bond Fund	FLTDX	FAFJX	FLTCX	—	FLTRX
Nuveen Short Term Municipal Bond Fund	FSHAX	NAAEX	NSVCX	—	FSHYX

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Table

of Contents

Chairman’s Letter to Shareholders	4
Portfolio Managers’ Comments	5
Risk Considerations and Dividend Information	11
Fund Performance, Expense Ratios and Effective Leverage Ratios	13
Yields	20
Holding Summaries	22
Expense Examples	27
Portfolios of Investments	30
Statement of Assets and Liabilities	209
Statement of Operations	210
Statement of Changes in Net Assets	211
Financial Highlights	214
Notes to Financial Statements	224
Additional Fund Information	239
Glossary of Terms Used in this Report	240
Annual Investment Management Agreement Approval Process	242

NUVEEN 3

Chairman’s Letter

to Shareholders

Dear Shareholders,

Asset prices have steadily climbed this year, propelled by a “Goldilocks” economic scenario that enabled markets to sidestep geopolitical tensions, natural disasters, terrorism events and political noise. The U.S. economy continued to run not too hot, not too cold, with steady growth and low levels of unemployment, inflation and interest rates. Corporate earnings have been healthy and recession risk appeared low. At the same time, growth across the rest of the world has improved as well, leading to upward revisions in global growth projections.

Yet, a global synchronized recovery also brings the prospect of higher inflation. Central banks have to manage the delicate balance between too-loose financial conditions, which risks economies overheating, and too-tight conditions, which could trigger recession. The nominee for Chairman of the U.S. Federal Reserve (Fed), Jerome Powell, is largely expected to maintain the course set by Chair Janet Yellen after her term expires in February 2018. However, uncertainties about fiscal policy remain, particularly as Congress is currently working on a tax overhaul plan. Depending on the details of a tax bill and whether it passes, the Fed’s job of managing interest rates could become more complicated in the years ahead.

Meanwhile, politics will remain in the forefront. The U.S. debt ceiling debate resumes in December 2017 when the current extension of the debt limit expires, and rebuilding continues in the wake of Hurricanes Harvey, Irma and Maria. The ongoing “Brexit” negotiations and the North American Free Trade Agreement (NAFTA) talks may impact key trade and political partnerships. Tensions with North Korea may continue to flare.

The magnitude of the market’s bullishness this year has been somewhat surprising. But gains may not be so easy in the coming years. Nobody can predict market shifts, which is why Nuveen encourages you to talk to your financial advisor to ensure your investment portfolio is appropriately diversified for your objectives, time horizon and risk tolerance. On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.

Sincerely,

William J. Schneider

Chairman of the Board

November 22, 2017

4 NUVEEN

Portfolio Managers’

Comments

Nuveen All-American Municipal Bond Fund

Nuveen Inflation Protected Municipal Bond Fund

Nuveen Intermediate Duration Municipal Bond Fund

Nuveen Limited Term Municipal Bond Fund

Nuveen Short Term Municipal Bond Fund

These Funds feature management by Nuveen Asset Management, LLC, an affiliate of Nuveen, LLC. Portfolio managers John V. Miller, CFA, and Timothy T. Ryan, CFA, have managed the Nuveen All-American Municipal Bond Fund since 2010 and 2016, respectively. Daniel J. Close, CFA, and Douglas M. Baker, CFA, have managed the Nuveen Inflation Protected Municipal Bond Fund since its inception in 2011. Paul L. Brennan, CFA, has managed the Nuveen Intermediate Duration Municipal Bond Fund since 2007 and the Nuveen Limited Term Municipal Bond Fund since 2006. Christopher L. Drahn, CFA, has managed the Nuveen Short Term Municipal Bond Fund since 2002.

Recently, the portfolio managers reviewed key investment strategies and the Funds’ performance for the six-month reporting period ended September 30, 2017.

How did the Funds perform during the six-month reporting period ended September 30, 2017?

The tables in the Fund Performance, Expense Ratios and Effective Leverage Ratios section of this report provide each Fund’s total return performance information for the six-month, one-year- five-year, ten-year and/or since-inception periods ended September 30, 2017. The returns for each Fund’s Class A Shares at net asset value (NAV) are compared with the performance of their corresponding benchmark and Lipper classification average.

For the reporting period, the Nuveen All-American Municipal Bond Fund, Nuveen Intermediate Duration Municipal Bond Fund and Nuveen Limited Term Municipal Bond Fund outperformed their respective benchmark indexes and Lipper peer group averages, while the Nuveen Inflation Protected Municipal Bond Fund and Nuveen Short Term Municipal Bond Fund lagged their respective benchmarks and Lipper averages.

Nuveen All-American Municipal Bond Fund

For the six-month reporting period ended September 30, 2017, the Nuveen All-American Municipal Bond Fund’s Class A Shares at NAV outperformed the S&P Municipal Bond Index and the Lipper General & Insured Municipal Debt Funds Classification Average.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service, Inc. (Moody’s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.

Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers’ ability to meet their commitments.

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

NUVEEN 5

Portfolio Managers’ Comments (continued)

The Fund’s duration (interest rate) and yield curve positioning were key drivers of its outperformance of the index. The portfolio had a longer-than-benchmark duration, which positioned it to more fully benefit from the positive effects of stable-to-declining longer-term interest rates. Additionally, the Fund’s overweighting in securities six years and longer added value as bonds in this maturity range outpaced shorter-maturity securities, in which the Fund was underweighted.

Credit quality positioning added to relative performance as well, as the Fund was overweight bonds with more credit risk, particularly in the A and BBB rating categories. These securities, bolstered by strong investor demand for yield and issuers’ mostly stable-to-improving credit fundamentals, generally outpaced higher quality securities, where the Fund had a smaller-than-benchmark exposure. The portfolio’s significant overweighting in non-investment grade securities was another positive performance factor, given that they generally posted higher total returns than their investment grade counterparts.

Adding to the Fund’s favorable results from below investment grade securities was positive security selection. For example, large overweightings in bonds issued by Chicago Board of Education, City of Chicago, Metropolitan Pier & Exposition Authority and State of Illinois posted strong gains after Illinois state lawmakers signed a budget bill ending a two-year legislative standoff.

The Fund’s lack of exposure to Puerto Rico bonds, most of which carry a below investment grade rating, proved beneficial as well. The island’s fiscal and economic woes deepened throughout the reporting period and were exacerbated by the extensive hurricane damage. Owning unrated American Dream bonds, issued for the development of a shopping and entertainment center in New Jersey’s Meadowlands, further boosted results. A modest exposure of FirstEnergy Solutions bonds was additive, as they staged a partial comeback from distressed levels.

In terms of sector selection, overweighting the outperforming health care, industrial development revenue/pollution control revenue (IDR/PCR), and charter school segments contributed to the Fund’s outperformance of the index. In contrast, our larger-than-index exposure to tobacco bonds detracted, as the sector lagged. Similarly, our overweight position in pre-refunded bonds hurt performance, which trailed the benchmark given their high quality and short durations.

Nuveen Inflation Protected Municipal Bond Fund

For the six-month reporting period ended September 30, 2017, the Nuveen Inflation Protected Municipal Bond Fund’s Class A Shares at NAV underperformed the Bloomberg Barclays 1–10 Year Municipal Bond Index, as well as the Lipper Intermediate Municipal Debt Funds Classification Average.

The Fund’s performance is shaped by its two portfolio components: intermediate duration municipal bonds and inflation-linked swaps. The swaps are designed to hedge the Fund against changes in realized inflation and changes in inflation expectations, which can influence municipal bond prices. For the reporting period, the Fund’s municipal bond portfolio substantially outperformed the benchmark, while its inflation-protection component was a meaningful detractor from relative performance.

In the municipal bond portfolio, duration (interest rate) positioning had the biggest positive impact on the Fund’s relative performance. During the reporting period, bonds with longer durations tended to outperform their counterparts with shorter durations. Accordingly, the combination of our underweight in the shortest-duration bonds and overweight in longer-dated bonds added significant value.

A lesser positive impact came from the Fund’s credit quality positioning. Investment grade bonds, lower rated securities generally fared better than those backed by higher credit quality issuers, as investors sought added yield in a still low interest rate environment. The Fund’s overweighting in bonds A and BBB rated, which occupy the two lowest credit tiers in the investment grade bond universe, added value, as did an underweighting in AAA rated bonds, the highest credit tier.

Sector positioning in the Fund was modestly negative during this reporting period, most notably an underweighting in the local general obligation (GO) bond category. In light of the sector’s relative outperformance, our more limited exposure to the group had a modestly negative impact on the Fund.

6 NUVEEN

The Fund’s inflation-protection component was a significant negative during the reporting period, as our inflation-linked swaps detracted from relative performance. These securities accomplished their objective of hedging against fluctuations in inflation expectations and realized inflation. However, the value of the swaps fell as the market’s perceived likelihood of future inflation decreased during the reporting period.

Nuveen Intermediate Duration Municipal Bond Fund

During the six-month reporting period ended September 30, 2017, the Nuveen Intermediate Duration Municipal Bond Fund’s Class A shares at NAV outperformed the S&P Municipal Bond Intermediate Index and the Lipper Intermediate Municipal Debt Funds Classification Average.

The Fund’s credit quality positioning aided relative performance. During the reporting period, the market favored higher yielding securities, so the combination of our overweighting in lower quality investment grade securities (A and BBB rated bonds) and underweighting in the top credit quality tiers (AAA and AA rated bonds) was beneficial. We also benefited from favorable security selection in various sectors among A and BBB rated bonds, identifying credits with good fundamentals and more incremental yield than higher rated bonds were providing.

Yield curve positioning was another positive contributor to relative performance. The Fund was overweighted in 13-year and longer securities, which were among the best performers in the intermediate municipal bond universe. This positioning more than compensated for the Fund’s overweighting in bonds maturing in two years or less, which underperformed.

On an individual security basis, holdings in Chicago general obligation (GO) bonds, Illinois state-backed securities and bonds issued by the Chicago Board of Education significantly outperformed the broader municipal market. These securities rallied after the state resolved its budget impasse and restored funding to its cities and school districts.

Sector allocation modestly detracted from performance. The Fund’s overweighting in pre-refunded bonds hurt performance, as these high quality, shorter-term bonds drew less investor interest. An overweighting in the higher education sector proved disadvantageous as well, primarily due to our emphasis of high quality issuers such as Yale University, which tended not to fare as well given that the market environment generally favored lower quality bonds.

Similarly, larger-than-benchmark exposure to the lagging tobacco sector was modestly detrimental. Partially offsetting these disappointments, however, was the Fund’s overweighting in various outperforming sectors, including transportation, health care and industrial development revenue/pollution control revenue (IDR/PCR).

Nuveen Limited Term Municipal Bond Fund

For the six-month reporting period ended September 30, 2017, the Nuveen Limited Term Municipal Bond Fund’s Class A Shares at NAV outperformed the S&P Municipal Bond Short-Intermediate Index and the Lipper Short-Intermediate Municipal Debt Funds Classification Average.

Credit quality exposure boosted the Fund’s results in relative terms. Investors, searching for extra income, favored higher yielding securities in a continued environment of low interest rates. This meant that our overweightings in lower investment grade securities (rated A and BBB) and non-investment grade securities were beneficial. Likewise, our underweighting in the highest quality credit tiers (AAA and AA rated bonds) was helpful in light of these securities’ underperformance during the reporting period.

Favorable security selection across a variety of sectors, but particularly among A and BBB rated bonds also aided relative results. The Fund was rewarded for holding bonds that had attractive amounts of incremental yield compared to higher quality securities, as well as stable to improving fundamentals.

In addition, the Fund benefited from its holdings in certain below investment grade bonds, such as Illinois state-backed bonds, Chicago general obligation (GO) debt and Chicago Board of Education securities, all of which posted appreciable gains that far outpaced the index. These securities rallied strongly in the wake of the state enacting a budget and avoiding credit rating downgrades. We also saw good results with our IDR/PCR holdings in FirstEnergy Solutions, which rebounded somewhat from distressed levels.

NUVEEN 7

Portfolio Managers’ Comments (continued)

Yield curve positioning was another factor behind the Fund’s outperformance of the index. Overweighting bonds with maturities of seven to twelve years was helpful, given that their yields were generally stable or declined slightly during the reporting period. The positive performance effects of owning these securities more than offset the negative performance impact of overweighting bonds due two years or less, which lagged as the Federal Reserve raised interest rates.

Sector positioning produced mixed results. The Fund’s underweighting in pre-refunded bonds added value, as these high quality, shorter-term bonds lagged the index. Larger-than-benchmark exposure to sectors consisting largely of lower investment grade securities, including those in the transportation, health care and industrial development revenue/pollution control revenue (IDR/PCR) categories, were helpful as well.

In contrast, the Fund’s overweighting in the underperforming higher education sector hurt somewhat, especially given our focus on high quality issuers such as Yale University and University of Chicago. Similarly, our overweighting in the lagging tobacco sector proved modestly detrimental for relative performance.

Nuveen Short Term Municipal Bond Fund

For the six-month reporting period ended September 30, 2017, the Nuveen Short-Term Municipal Bond Fund’s Class A Shares at NAV modestly underperformed the S&P Municipal Bond Short Index and the Lipper Short Municipal Debt Funds Classification Average.

During the reporting period, yields on securities from the longer end of the short-maturity universe (two to five years) were generally stable, while yields on the shortest-maturity bonds rose. This flattening of the short-term yield curve resulted in the outperformance of bonds beyond two years. Against this backdrop, with our larger-than-benchmark exposure to bonds four years and longer, the Fund’s yield curve positioning modestly contributed to relative performance. However, the Fund’s overweighting in very short-term securities (under six months, specifically) was a slight drag, as these bonds underperformed.

The Fund’s credit quality positioning worked to its advantage. Our larger-than-index exposure to A and BBB rated securities was beneficial, given these bonds’ outperformance as investors’ appetite for yield remained strong. At the same time, an underweighting in the highest credit quality segments (AA and AAA rated bonds) also helped, since they trailed lower quality securities.

From a sector selection standpoint, the Fund received a modest boost from its underweighting in pre-refunded securities, high quality bonds that underperformed the index due to their relatively lower yields.

What strategies were used to manage the Funds during the reporting period?

All of the Funds continued to employ the same fundamental investment strategies and tactics long relied upon by Nuveen Asset Management (NAM). Our municipal bond portfolios are managed with a value-oriented approach and close input from NAM’s research team. Below we highlight the specific factors influencing each Fund’s investment strategy, as well as how we managed each portfolio in light of recent market conditions.

Nuveen All-American Municipal Bond Fund

Throughout the reporting period, the Fund’s duration (interest rate sensitivity) remained longer than the benchmark, even as we gradually allowed it to drift downward by adding shorter-term securities. This gradual shift reflected our expectation that short-term interest rates would move modestly higher along with moderate and gradual interest rate hikes from the Federal Reserve, while longer-term rates could remain stable due to few inflation pressures. Thus, by moving the portfolio a bit shorter on the yield curve, we could take advantage of what we saw as better values among intermediate-dated securities, particularly those in the 15-year maturity range.

Similarly, relative to the benchmark, the Fund remained overweighted in bonds with more credit risk. As the reporting period progressed, however, and as lower rated bonds generally outperformed and experienced credit spread tightening, many of these securities appeared expensive. We began focusing new purchases toward higher quality securities, which, in many cases, offered comparable yields to those of lower quality bonds but with less credit risk.

8 NUVEEN

We also continued to increase the Fund’s exposure to New York and California bonds. Due to high demand, securities from these two states tend to be comparatively liquid. As such, our purchases here improved the Fund’s flexibility and, in our opinion, made the portfolio somewhat more defensive in the event of a market sell off.

Bond sales were minimal during the reporting period, given our general preference for maintaining the Fund’s existing credit quality and sector positioning. Shareholder inflows, along with the proceeds of bond calls and maturities, provided our source of new assets to invest.

Nuveen Inflation Protected Municipal Bond Fund

With substantial shareholder inflows coming into the Fund, we were actively purchasing new bonds for the portfolio throughout the six-month reporting period. We generally liked the portfolio’s existing duration and credit quality stance, so, whenever we were adding new securities, we sought to keep this positioning to the extent possible.

Our new purchases, which took place in both the primary and secondary municipal bond markets, included a variety of dedicated-tax bonds. We also added a state appropriation bond, a water/sewer issue, and two health care credits, with a focus on intermediate and longer bonds.

These purchases, which were based on what was available at the time we had assets to invest, involved bonds with credit ratings ranging from high BBB to low AA and intermediate to longer-intermediate maturities. Selling activity was minimal during this reporting period and consisted of a single floating-rate bond issue.

The Fund’s exposure to inflation-linked swaps increased during the reporting period in proportion to the growth in the Fund’s net assets. These inflation-linked swaps continued to be classified as non-exchange-cleared derivatives, a beneficial situation for the Fund, given that it enables us to use the Fund’s municipal bond positions as collateral for the swaps, if necessary.

Nuveen Intermediate Duration Municipal Bond Fund

Throughout the reporting period, we kept the Fund’s basic sector, credit and yield curve positioning intact. However, the Fund’s duration (interest rate sensitivity) drifted downward to reach a more neutral stance relative to the index, based on our view that fewer attractive longer-term bond opportunities were available in the marketplace.

Credit spreads, the difference in yields between bonds with various credit ratings, continued to narrow during the reporting period. Lower quality bond yields continued to decline to the point where, in many cases, taking on additional credit risk seemed unwarranted, in our view. As a result, our purchases tended to skew more toward higher quality bonds. That said, we were comfortable maintaining the Fund’s existing overweightings in lower investment grade and below investment grade securities, given that they still offered healthy amounts of incremental yield relative to new opportunities in the marketplace, especially in light of their issuers’ generally stable to improving credit fundamentals.

In making purchases during the reporting period, we used the proceeds of new investment inflows, as well as bond calls and maturities, to make some swaps to help support the Fund’s dividend. Specifically, we sold some of our existing short-maturity, higher quality positions for bonds available in the marketplace that carried better yields but similar risk characteristics.

Nuveen Limited Term Municipal Bond Fund

Our purchasing activity during the reporting period reflected availability in the marketplace, rather than an intent to alter the Fund’s credit quality, sector or yield curve positioning.

We kept the Fund’s exposure to credit risk roughly stable throughout the six months, maintaining overweightings in lower investment grade and below investment grade securities due to their ability to provide the Fund with income. In light of these segments’ extended period of outperformance, however, we believed that there were fewer compelling new opportunities in this part of the marketplace. Accordingly, when adding new bonds to the Fund, we generally favored higher quality bonds, which increasingly carried yields similar to lower quality alternatives. Our purchases were spread across various sectors, including tax-supported, utilities

NUVEEN 9

Portfolio Managers’ Comments (continued)

and transportation. We also swapped some existing holdings issued when bond yields were lower for newer higher yielding opportunities available in the marketplace, a strategy that helped boost the Fund’s income stream while maintaining a comparable level of risk.

Even as the portfolio’s yield curve exposure remained tilted toward longer-term securities within our investment universe, we were increasingly focused on adding shorter-term bonds, given the lack of new, attractive longer-maturity opportunities we were seeing in the marketplace. This resulted in the Fund’s duration falling slightly to a more neutral stance relative to the index.

Nuveen Short Term Municipal Bond Fund

We added names across the credit spectrum ranging from non-rated to AA rated bonds based on where we identified relative value and the potential for performance opportunity, although our purchases for the Fund during the reporting period had a bit more emphasis on the A and BBB ratings categories, which make up the lower investment grade investment universe.

We were particularly active among health care bonds, especially hospital and senior living issues, and we also purchased utility and transportation bonds. Notable additions included revenue bonds issued by New Jersey Motor Vehicle Surcharge, Clark County (Nevada) Airport, and Metropolitan Washington Airports Authority. In the health care sector, key additions were bonds issued by a California agency on behalf of Kaiser Permanente, a leading health care provider in the state. We also purchased several securities whose income is subject to the alternative minimum tax. We felt the incremental yield from these positions was attractive when viewed in the context of absolute and relative yield levels available elsewhere.

Our purchases were concentrated primarily in three- to five-year maturities. These securities carried incremental yield and we believed they offered the potential to benefit from further spread tightening and therefore, potentially outperform shorter-term securities over time. We maintained the Fund’s duration slightly long relative to the benchmark.

To fund our purchases, we often used the proceeds from bond maturities. We also traded some high quality, shorter-term securities with comparatively low yields for new investments offering higher prevailing yields with similar risk characteristics.

Note About Investment Valuations

The municipal securities held by the Funds are valued by the Funds’ pricing service using a range of market-based inputs and assumptions. A different municipal pricing service might incorporate different assumptions and inputs into its valuation methodology, potentially resulting in different values for the same securities. Thus, the current net asset value of a Fund’s shares might be impacted, higher or lower, if the Fund were to use a different pricing service, or if its pricing service were to materially change its valuation methodology. On October 4, 2016, the Fund’s then-current municipal bond pricing service was acquired by the parent company of another pricing service, and the combination of the valuation methodologies used by the two organizations took place on October 16, 2017, subsequent to the close of the reporting period of this report. The change of valuation methodologies due to that combination had little or no impact on the net asset value of each Fund’s shares.

10 NUVEEN

Risk Considerations

and Dividend Information

Risk Considerations

Nuveen All-American Municipal Bond Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. In addition, the Fund periodically engages in a moderate amount of portfolio leverage and in doing so, assumes a higher level of risk in pursuit of its objectives. Leverage involves the risk that the Fund could lose more than its original investment and also increases the Fund’s exposure to volatility, interest rate risk and credit risk.

Nuveen Inflation Protected Municipal Bond Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund are subject to market risk, credit risk, interest rate risk, non-diversification risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuer’s ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Fund’s use of derivative instruments may involve a small amount of cash investment relative to the total notional principal amount of the transaction, the magnitude of losses from derivatives may be greater than the amount originally invested. There can be no assurance that the Fund’s inflation hedging strategy will be successful or perform as expected.

Nuveen Intermediate Duration Municipal Bond Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Fund’s use of inverse floaters creates effective leverage. Leverage involves the risk that the Fund could lose more than its original investment and also increases the Fund’s exposure to volatility and interest rate risk.

Nuveen Limited Term Municipal Bond Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Fund’s use of inverse floaters creates effective leverage. Leverage involves the risk that the Fund could lose more than its original investment and also increases the Fund’s exposure to volatility and interest rate risk.

Nuveen Short Term Municipal Bond Fund

Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Fund’s use of inverse floaters creates effective leverage. Leverage involves the risk that the Fund could lose more than its original investment and also increases the Fund’s exposure to volatility and interest rate risk.

NUVEEN 11

Risk Considerations and Dividend Information (continued)

Dividend Information

Each Fund seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit each Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. If a Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund’s net asset value. Conversely, if a Fund has cumulatively paid in dividends more than it has earned, the excess will constitute a negative UNII that will likewise be reflected in the Fund’s net asset value. Each Fund will, over time, pay all its net investment income as dividends to shareholders.

As of September 30, 2017, all of the Funds had positive UNII balances, based upon our best estimate, for tax purposes and positive UNII balances for financial reporting purposes.

All monthly dividends paid by each Fund during the current reporting period were paid from net investment income. If a portion of the Fund’s monthly distributions was sourced from or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders would have received a notice to that effect. For financial reporting purposes, the composition and per share amounts of each Fund’s dividends for the reporting period are presented in this report’s Statement of Changes in Net Assets and Financial Highlights, respectively. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 – Income Tax Information within the Notes to Financial Statements of this report.

12 NUVEEN

Fund Performance, Expense Ratios

and Effective Leverage Ratios

The Fund Performance, Expense Ratios and Effective Leverage Ratios for each Fund are shown within this section of the report.

Returns quoted represent past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are not annualized. Returns at net asset value (NAV) would be lower if the sales charge were included. Returns assume reinvestment of dividends and capital gains. For performance, current to the most recent month-end visit Nuveen.com or call (800) 257-8787.

Returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Income is generally exempt from regular federal income taxes. Some income may be subject to state and local income taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.

Returns may reflect fee waivers and/or expense reimbursements by the investment adviser during the periods presented. If any such waivers and/or reimbursements had not been in place, returns would have been reduced. See Notes to Financial Statements, Note 7—Management Fees and Other Transactions with Affiliates for more information.

Returns reflect differences in sales charges and expenses, which are primarily differences in distribution and service fees, and assume reinvestment of dividends and capital gains.

Comparative index and Lipper return information is provided for Class A Shares at NAV only.

The expense ratios shown reflect total operating expenses (before fee waivers and/or expense reimbursements, if any) as shown in the most recent prospectus. The expense ratios include management fees and other fees and expenses.

Leverage is created whenever a Fund has investment exposure (both reward and/or risk) equivalent to more than 100% of its investment capital. The effective leverage ratio shown for each Fund is the amount of investment exposure created either directly through borrowings or indirectly through inverse floaters, divided by the assets invested, including those assets that were purchased with the proceeds of the leverage, or referenced by the levered instrument. A Fund may from time to time borrow on a typically transient basis in connection with its day-to-day operations, primarily in connection with the need to pay cash out to redeeming shareholders or to settle portfolio trades. Such incidental borrowings, described generally in Notes to Financial Statements, Note 8—Borrowing Arrangements, are excluded from the calculation of a Fund’s effective leverage ratio.

NUVEEN 13

Fund Performance, Expense Ratios and Effective Leverage Ratios (continued)

Nuveen All-American Municipal Bond Fund

Refer to the first page of this Fund Performance, Expense Ratios and Effective Leverage Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance

Average Annual Total Returns as of September 30, 2017

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		10-Year
Class A Shares at NAV		4.42%		1.20%		3.87%		5.33%
Class A Shares at maximum Offering Price		0.01%		(3.03)%		2.98%		4.88%
S&P Municipal Bond Index		2.82%		0.84%		3.08%		4.45%
Lipper General & Insured Municipal Debt Funds Classification Average		3.07%		0.49%		2.80%		3.99%
Class C2 Shares		4.04%		0.62%		3.31%		4.76%
Class I Shares		4.51%		1.40%		4.08%		5.53%

	Cumulative		Average Annual
	6-Month		1-Year		Since Inception
Class C Shares		3.93%		0.39%		4.71%
Class R6 Shares		4.51%		1.40%		1.06%

Since inception returns for Class C Shares and Class R6 Shares are from 2/10/14 and 6/30/16, respectively. Indexes and Lipper averages are not available for direct investment.

Class A Shares have a maximum 4.20% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) of 1% if redeemed within eighteen months of purchase. Class C and Class C2 Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the total returns. Class R6 Shares have no sales charge and are available only to certain limited categories of investors as described in the prospectus. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Share Class
	Class A		Class C		Class C2		Class R6		Class I
Expense Ratios		0.73%		1.52%		1.28%		0.49%		0.53%

Effective Leverage Ratio as of September 30, 2017

Effective Leverage Ratio 3.84%

14 NUVEEN

Nuveen Inflation Protected Municipal Bond Fund

Refer to the first page of this Fund Performance, Expense Ratios and Effective Leverage Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance

Average Annual Total Returns as of September 30, 2017

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		Since Inception
Class A Shares at NAV		1.72%		2.10%		1.36%		3.60%
Class A Shares at maximum Offering Price		(1.33)%		(0.97)%		0.75%		3.12%
Bloomberg Barclays 1-10 Year Municipal Bond Index		2.13%		1.00%		2.12%		3.13%
Lipper Intermediate Municipal Debt Funds Classification Average		2.58%		0.42%		2.06%		3.57%
Class C2 Shares		1.44%		1.52%		0.81%		3.03%
Class I Shares		1.81%		2.26%		1.59%		3.81%

	Cumulative		Average Annual
	6-Month		1-Year		Since Inception
Class C Shares		1.33%		1.27%		1.81%

Since inception returns for Class A, Class C2 and Class I Shares, and the index and Lipper average are from 3/08/11. Since inception returns for Class C Shares are from 2/10/14. Indexes and Lipper averages are not available for direct investment.

Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) of 1% if redeemed within eighteen months of purchase. Class C and Class C2 Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the total returns. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Share Class
	Class A		Class C		Class C2		Class I
Gross Expense Ratios		1.07%		1.87%		1.63%		0.86%
Net Expense Ratios		0.76%		1.56%		1.31%		0.56%

The Fund’s investment adviser has contractually agreed to waive fees and/or reimburse expenses through July 31, 2019 so that total annual Fund operating expenses (excluding 12b-1 distribution and service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) do not exceed 0.60% (1.05% after July 31, 2019) of the average daily net assets of any class of Fund shares. The expense limitation expiring July 31, 2019 may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund. The expense limitation in effect thereafter may be terminated or modified only with the approval of the shareholders of the Fund.

NUVEEN 15

Fund Performance, Expense Ratios and Effective Leverage Ratios (continued)

Nuveen Intermediate Duration Municipal Bond Fund

Refer to the first page of this Fund Performance, Expense Ratios and Effective Leverage Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance

Average Annual Total Returns as of September 30, 2017

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		10-Year
Class A Shares at NAV		3.73%		0.94%		2.68%		3.83%
Class A Shares at maximum Offering Price		0.61%		(2.08)%		2.06%		3.51%
S&P Municipal Bond Intermediate Index		2.97%		0.96%		2.85%		4.61%
Lipper Intermediate Municipal Debt Funds Classification Average		2.58%		0.42%		2.06%		3.51%
Class C2 Shares		3.46%		0.30%		2.13%		3.26%
Class I Shares		3.83%		1.02%		2.88%		4.03%

	Cumulative		Average Annual
	6-Month		1-Year		Since Inception
Class C Shares		3.33%		0.04%		2.66%

Since inception returns for Class C Shares are from 2/10/14. Indexes and Lipper averages are not available for direct investment.

Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) of 1% if redeemed within eighteen months of purchase. Class C and Class C2 Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the total returns. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Share Class
	Class A		Class C		Class C2		Class I
Expense Ratios		0.69%		1.49%		1.24%		0.49%

Effective Leverage Ratio as of September 30, 2017

Effective Leverage Ratio 0.23%

16 NUVEEN

Nuveen Limited Term Municipal Bond Fund

Refer to the first page of this Fund Performance, Expense Ratios and Effective Leverage Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance

Average Annual Total Returns as of September 30, 2017

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		10-Year
Class A Shares at NAV		2.09%		0.51%		1.41%		2.86%
Class A Shares at maximum Offering Price		(0.47)%		(2.03)%		0.89%		2.60%
S&P Municipal Bond Short-Intermediate Index		1.64%		1.00%		1.75%		3.33%
Lipper Short-Intermediate Municipal Debt Funds Classification Average		1.36%		0.22%		1.15%		2.54%
Class C2 Shares		1.90%		0.22%		1.05%		2.50%
Class I Shares		2.28%		0.77%		1.62%		3.06%

	Cumulative		Average Annual
	6-Month		1-Year		Since Inception
Class C Shares		1.77%		(0.22)%		0.93%

Since inception returns for Class C Shares are from 2/10/14. Indexes and Lipper averages are not available for direct investment.

Class A Shares have a maximum 2.50% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) of 0.70% if redeemed within eighteen months of purchase. Class C and Class C2 Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the total returns. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Share Class
	Class A		Class C		Class C2		Class I
Expense Ratios		0.63%		1.43%		0.98%		0.43%

Effective Leverage Ratio as of September 30, 2017

Effective Leverage Ratio 0.00%

NUVEEN 17

Fund Performance, Expense Ratios and Effective Leverage Ratios (continued)

Nuveen Short Term Municipal Bond Fund

Refer to the first page of this Fund Performance, Expense Ratios and Effective Leverage Ratios section for further explanation of the information included within this section. Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.

Fund Performance

Average Annual Total Returns as of September 30, 2017

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		10-Year
Class A Shares at NAV		0.78%		0.76%		0.83%		1.97%
Class A Shares at maximum Offering Price		(1.77)%		(1.77)%		0.32%		1.71%
S&P Municipal Bond Short Index		0.87%		1.12%		1.03%		2.21%
Lipper Short Municipal Debt Funds Classification Average		0.89%		0.71%		0.62%		1.50%
Class I Shares		0.97%		0.94%		1.03%		2.15%

	Cumulative		Average Annual
	6-Month		1-Year		5-Year		Since Inception
Class C Shares		0.39%		(0.02)%		N/A		0.10%
Class C2 Shares		0.60%		0.40%		0.47%		0.78%

Since inception returns for Class C and Class C2 Shares are from 2/10/14 and 8/31/11, respectively. Indexes and Lipper averages are not available for direct investment.

Class A Shares have a maximum 2.50% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) of 0.70% if redeemed within eighteen months of purchase. Class C and Class C2 Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the total returns. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense Ratios as of Most Recent Prospectus

	Share Class
	Class A		Class C		Class C2		Class I
Expense Ratios		0.71%		1.51%		1.06%		0.51%

Effective Leverage Ratio as of September 30, 2017

Effective Leverage Ratio 0.00%

18 NUVEEN

THIS PAGE INTENTIONALLY LEFT BLANK

NUVEEN 19

Yields as of September 30, 2017

Dividend Yield is the most recent dividend per share (annualized) divided by the offering price per share.

The SEC 30-Day Yield is a standardized measure of a fund’s yield that accounts for the future amortization of premiums or discounts of bonds held in the fund’s portfolio. The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. Subsidized yields reflect fee waivers and/or expense reimbursements from the investment adviser during the period. If any such waivers and/or reimbursements had not been in place, yields would have been reduced. Unsubsidized yields do not reflect waivers and/or reimbursements from the investment adviser during the period. Refer to the Notes to Financial Statements, Note 7 – Management Fees and Other Transactions with Affiliates for further details on the investment adviser’s most recent agreement with the Fund to waive fees and/or reimburse expenses, where applicable. Dividend Yield may differ from the SEC 30-Day Yield because the fund may be paying out more or less than it is earning and it may not include the effect of amortization of bond premium.

The Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the fund on an after-tax basis at a specified tax rate. If the comparison were instead to investments that generate qualified dividend income, which is taxable at a rate lower than an individual’s ordinary graduated tax rate, the fund’s Taxable-Equivalent Yield would be lower.

Nuveen All-American Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class R6		Class I
Dividend Yield		3.51%		2.89%		3.10%		3.85%		3.85%
SEC 30-Day Yield		2.33%		1.64%		1.89%		2.67%		2.64%
Taxable-Equivalent Yield (28.0%)2		3.24%		2.28%		2.63%		3.71%		3.67%

Nuveen Inflation Protected Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		1.91%		1.18%		1.40%		2.13%
SEC 30-Day Yield-Subsidized		1.55%		0.80%		1.05%		1.80%
SEC 30-Day Yield-Unsubsidized		1.40%		0.65%		0.90%		1.65%
Taxable-Equivalent Yield-Subsidized (28.0%)2		2.15%		1.11%		1.46%		2.50%
Taxable-Equivalent Yield-Unsubsidized (28.0%)2		1.94%		0.90%		1.25%		2.29%

Nuveen Intermediate Duration Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		2.64%		1.95%		2.21%		2.92%
SEC 30-Day Yield-Subsidized		1.81%		1.07%		1.32%		2.06%
SEC 30-Day Yield-Unsubsidized		1.81%		1.07%		1.32%		2.06%
Taxable-Equivalent Yield-Subsidized (28.0%)2		2.51%		1.49%		1.83%		2.86%
Taxable-Equivalent Yield-Unsubsidized (28.0%)2		2.51%		1.49%		1.83%		2.86%

20 NUVEEN

Nuveen Limited Term Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		1.75%		0.98%		1.42%		1.97%
SEC 30-Day Yield		1.11%		0.34%		0.79%		1.34%
Taxable-Equivalent Yield (28.0%)2		1.54%		0.47%		1.10%		1.86%

Nuveen Short Term Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		0.91%		0.18%		0.60%		1.13%
SEC 30-Day Yield		0.64%		(0.12)%		0.32%		0.87%
Taxable-Equivalent Yield (28.0%)2		0.89%		(0.17)%		0.44%		1.21%

1 The SEC Yield for Class A shares quoted in the table reflects the maximum sales load. Investors paying a reduced load because of volume discounts, investors paying no load because they qualify for one of the several exclusions from the load, and existing shareholders who previously paid a load but would like to know the SEC Yield applicable to their shares on a going-forward basis, should understand that the SEC Yield effectively applicable to them would be higher than the figure quoted in the table.

2 The Taxable-Equivalent Yield is based on the Fund’s SEC 30-Day Yield on the indicated date and a federal income tax rate shown in the respective table above.

NUVEEN 21

Holding

Summaries as of September 30, 2017

This data relates to the securities held in each Fund’s portfolio of investments as of the end of this reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.

For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.

Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.

Nuveen All-American Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	100.2%
Corporate Bonds	0.0%
Short-Term Municipal Bonds	0.8%
Other Assets Less Liabilities	0.9%
Net Assets Plus Floating Rate Obligations	101.9%
Floating Rate Obligations	(1.9)%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

AAA/U.S. Guaranteed	16.5%
AA	27.7%
A	20.4%
BBB	17.9%
BB or Lower	9.5%
N/R (not rated)	8.0%
Total	100%

Portfolio Composition

(% of total investments)

Tax Obligation/Limited	16.1%
Health Care	16.1%
Transportation	12.7%
Tax Obligation/General	11.1%
U.S. Guaranteed	9.3%
Education and Civic Organizations	8.5%
Utilities	8.1%
Other	18.1%
Total	100%

States and Territories

(% of total municipal bonds)

California	17.7%
New York	13.2%
Illinois	11.9%
Texas	7.6%
Florida	4.7%
Wisconsin	3.7%
Colorado	3.5%
Ohio	2.6%
Pennsylvania	2.6%
Indiana	2.2%
Georgia	2.1%
New Jersey	2.1%
Arizona	2.0%
Washington	1.9%
Missouri	1.7%
Louisiana	1.6%
Other	18.9%
Total	100%

22 NUVEEN

Nuveen Inflation Protected Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	101.6%
Short-Term Municipal Bonds	0.9%
Other Assets Less Liabilities	(2.5)%
Net Assets	100%

Bond Credit Quality

(% of total investments)

AAA/U.S. Guaranteed	6.8%
AA	51.1%
A	28.7%
BBB	7.7%
BB or Lower	0.8%
N/R (not rated)	4.9%
Total	100%

Portfolio Composition

(% of total investments)

Tax Obligation/Limited	31.4%
Transportation	14.0%
Tax Obligation/General	12.3%
Health Care	11.2%
Water and Sewer	11.1%
Utilities	10.7%
Other	9.3%
Total	100%

States and Territories

(% of total municipal bonds)

California	14.0%
Colorado	9.1%
Texas	5.9%
Tennessee	5.9%
North Carolina	5.8%
Illinois	5.3%
Ohio	4.4%
New York	4.1%
Georgia	3.4%
Florida	3.1%
Louisiana	3.1%
Nevada	2.6%
Washington	2.4%
Pennsylvania	2.4%
New Jersey	2.3%
Alaska	2.2%
Connecticut	2.1%
Maryland	2.0%
Oregon	1.5%
Other	18.4%
Total	100%

NUVEEN 23

Holding Summaries as of September 30, 2017(continued)

Nuveen Intermediate Duration Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	97.6%
Corporate Bonds	0.0%
Investment Companies	0.3%
Short-Term Municipal Bonds	0.8%
Other Assets Less Liabilities	1.3%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

AAA/U.S. Guaranteed	12.5%
AA	28.9%
A	31.9%
BBB	16.8%
BB or Lower	6.8%
N/R (not rated)	3.1%
Total	100%

Portfolio Composition

(% of total investments)

Tax Obligation/Limited	19.3%
Health Care	16.1%
Tax Obligation/General	15.1%
Transportation	13.9%
Utilities	11.4%
U.S. Guaranteed	7.9%
Other	16.3%
Total	100%

States and Territories

(% of total municipal bonds)

Illinois	14.9%
Texas	6.3%
California	6.1%
New Jersey	5.9%
Florida	5.6%
New York	5.5%
Ohio	4.6%
Pennsylvania	4.6%
Indiana	3.4%
Wisconsin	3.2%
Louisiana	2.6%
Arizona	2.5%
District of Columbia	2.5%
Nevada	2.4%
Colorado	2.3%
Alabama	2.0%
Michigan	1.7%
Iowa	1.7%
Oklahoma	1.6%
Kentucky	1.5%
Other	19.1%
Total	100%

24 NUVEEN

Nuveen Limited Term Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	98.1%
Corporate Bonds	0.0%
Investment Companies	0.7%
Short-Term Municipal Bonds	0.8%
Other Assets Less Liabilities	0.4%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

AAA/U.S. Guaranteed	10.3%
AA	31.4%
A	39.0%
BBB	12.8%
BB or Lower	4.7%
N/R (not rated)	1.8%
Total	100%

Portfolio Composition

(% of total investments)

Utilities	20.1%
Tax Obligation/Limited	19.9%
Tax Obligation/General	16.8%
Health Care	13.4%
Transportation	8.9%
Education and Civic Organizations	5.7%
Other	15.2%
Total	100%

States and Territories

(% of total municipal bonds)

Illinois	11.9%
Pennsylvania	6.8%
New Jersey	5.4%
Florida	5.3%
Texas	5.1%
Louisiana	5.0%
Ohio	4.8%
Indiana	4.2%
New York	4.1%
California	3.6%
Washington	3.1%
Connecticut	2.8%
Kentucky	2.6%
Arizona	2.4%
Oklahoma	2.4%
New Mexico	2.3%
Alabama	2.0%
Maryland	1.8%
Georgia	1.8%
Colorado	1.7%
Michigan	1.7%
Other	19.2%
Total	100%

NUVEEN 25

Holding Summaries as of September 30, 2017(continued)

Nuveen Short Term Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	96.2%
Investment Companies	2.0%
Short-Term Municipal Bonds	1.8%
Other Assets Less Liabilities	(0.0)%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

AAA/U.S. Guaranteed	9.0%
AA	40.1%
A	31.0%
BBB	11.8%
BB or Lower	2.4%
N/R (not rated)	5.7%
Total	100%

Portfolio Composition

(% of total investments)

Tax Obligation/Limited	18.8%
Health Care	16.7%
Transportation	13.3%
Tax Obligation/General	13.0%
Education and Civic Organizations	10.1%
Utilities	9.7%
Water and sewer	4.0%
Other	14.4%
Total	100%

States and Territories

(% of total municipal bonds)

Minnesota	9.8%
Texas	9.4%
New York	8.7%
New Jersey	5.3%
Illinois	5.3%
Colorado	5.2%
California	4.7%
Louisiana	3.9%
Missouri	3.6%
Nevada	3.4%
Pennsylvania	3.4%
Arizona	3.3%
Indiana	3.3%
Washington	2.4%
Nebraska	2.2%
Kentucky	2.2%
Florida	2.1%
Michigan	1.6%
Wisconsin	1.6%
Other	18.6%
Total	100%

26 NUVEEN

Expense

Examples

As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including up-front and back-end sales charges (loads) or redemption fees, where applicable; and (2) ongoing costs, including management fees; distribution and service (12b-1) fees, where applicable; and other Fund expenses. The Examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds. The Examples below do not include the interest and related expenses from inverse floaters that are reflected in the financial statements later within this report, when applicable.

The Examples below are based on an investment of $1,000 invested at the beginning of the period and held through the period ended September 30, 2017.

The beginning of the period is April 1, 2017.

The information under “Actual Performance,” together with the amount you invested, allows you to estimate actual expenses incurred over the reporting period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.60) and multiply the result by the cost shown for your share class, in the row entitled “Expenses Incurred During Period” to estimate the expenses incurred on your account during this period.

The information under “Hypothetical Performance,” provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expense you incurred for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the following tables are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds or share classes. In addition, if these transaction costs were included, your costs would have been higher.

Nuveen All-American Municipal Bond Fund

	Share Class
	Class A		Class C		Class C2		Class R6		Class I
Actual Performance
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,044.20	$	1,039.30	$	1,040.40	$	1,045.10	$	1,045.10
Expenses Incurred During Period	$	3.54	$	7.62	$	6.34	$	2.36	$	2.51
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,021.61	$	1,017.60	$	1,018.85	$	1,022.76	$	1,022.61
Expenses Incurred During Period	$	3.50	$	7.54	$	6.28	$	2.33	$	2.48

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.69%, 1.49%, 1.24%, 0.46%, 0.49% for Classes A, C, C2, R6 and I, respectively, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

NUVEEN 27

Expense Examples (continued)

Nuveen Inflation Protected Municipal Bond Fund

	Share Class
	Class A		Class C		Class C2		Class I
Actual Performance
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,017.20	$	1,013.30	$	1,014.40	$	1,018.10
Expenses Incurred During Period	$	3.84	$	7.87	$	6.62	$	2.83
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,021.26	$	1,017.25	$	1,018.50	$	1,022.26
Expenses Incurred During Period	$	3.85	$	7.89	$	6.63	$	2.84

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.76%, 1.56%, 1.31% and 0.56% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

Nuveen Intermediate Duration Municipal Bond Fund

	Share Class
	Class A		Class C		Class C2		Class I
Actual Performance
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,037.30	$	1,033.30	$	1,034.60	$	1,038.30
Expenses Incurred During Period	$	3.47	$	7.54	$	6.27	$	2.45
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,021.66	$	1,017.65	$	1,018.90	$	1,022.66
Expenses Incurred During Period	$	3.45	$	7.49	$	6.23	$	2.43

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.68%, 1.48%, 1.23%, and 0.48% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

Nuveen Limited Term Municipal Bond Fund

	Share Class
	Class A		Class C		Class C2		Class I
Actual Performance
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,020.90	$	1,017.70	$	1,019.00	$	1,022.80
Expenses Incurred During Period	$	3.14	$	7.18	$	4.91	$	2.13
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,021.96	$	1,017.95	$	1,020.21	$	1,022.96
Expenses Incurred During Period	$	3.14	$	7.18	$	4.91	$	2.13

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.62%, 1.42%, 0.97% and 0.42% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

28 NUVEEN

Nuveen Short Term Municipal Bond Fund

	Share Class
	Class A		Class C		Class C2		Class I
Actual Performance
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,007.80	$	1,003.90	$	1,006.00	$	1,009.70
Expenses Incurred During Period	$	3.62	$	7.64	$	5.38	$	2.62
Hypothetical Performance (5% annualized return before expenses)
Beginning Account Value	$	1,000.00	$	1,000.00	$	1,000.00	$	1,000.00
Ending Account Value	$	1,021.46	$	1,017.45	$	1,019.70	$	1,022.46
Expenses Incurred During Period	$	3.65	$	7.69	$	5.42	$	2.64

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.72%, 1.52%, 1.07%, and 0.52% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

NUVEEN 29

Nuveen All-American Municipal Bond Fund

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 100.2%
		MUNICIPAL BONDS – 100.2%
		Alabama – 0.7%
$	4,220	Infirmary Health System Special Care Facilities Financing Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health System, Inc., Series 2016A, 5.000%, 2/01/41		2/26 at 100.00		A–	$	4,654,913
	14,175	Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46		No Opt. Call		A3		17,278,900
	500	Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.875%, 4/15/45		4/25 at 100.00		N/R		519,720
	2,000	Pell City, Alabama, Special Care Facilities Financing Authority, Revenue Bonds, Noland Health Services, Series 2007A, 5.250%, 12/01/34 (Pre-refunded 12/01/17)		12/17 at 100.00		Aaa		2,015,620
	20,895	Total Alabama						24,469,153
		Alaska – 0.2%
	3,855	Alaska Municipal Bond Bank, General Obligation Bonds, Refunding Three Series 2016, 5.000%, 12/01/27		No Opt. Call		AA–		4,687,719
	2,000	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32		12/17 at 100.00		B3		1,965,200
	5,855	Total Alaska						6,652,919
		Arizona – 2.0%
	500	Arizona School Facilities Board, Certificates of Participation, Series 2008, 5.250%, 9/01/23 (Pre-refunded 9/01/18)		9/18 at 100.00		AA– (4)		519,735
	200	Arizona State University Nanotechnology LLC, Lease Revenue Refunding Bonds, Arizona State University Project, Series 2009A, 5.000%, 3/01/34 – AGC Insured		3/19 at 100.00		AA		209,460
	500	Gilbert Public Facilities Municipal Property Corporation, Arizona, Revenue Bonds, Series 2009, 5.500%, 7/01/27		7/19 at 100.00		AA+		538,000
	3,430	Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health Network, Series 2007, 5.000%, 12/01/42 (Pre-refunded 12/01/17)		12/17 at 100.00		N/R (4)		3,455,108
	245	Maricopa County, Arizona, Hospital Revenue Bonds, Sun Health Corporation, Series 2005, 5.000%, 4/01/25 (Pre-refunded 4/01/24)		4/24 at 100.00		N/R (4)		278,898
	465	Peoria, Arizona, Improvement District 601, Improvement Bonds, Series 2007, 4.250%, 1/01/22		1/18 at 101.00		Aa2		473,175
	4,000	Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/31		7/20 at 100.00		A+		4,396,960
		Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B:
	1,650	5.500%, 7/01/31 – FGIC Insured		No Opt. Call		AA		2,092,777
	6,000	5.500%, 7/01/39 – FGIC Insured		No Opt. Call		AA		7,849,080
	745	Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Choice Academies Charter Schools Project, Series 2012, 4.875%, 9/01/22		No Opt. Call		BB+		788,337
	1,000	Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Great Hearts Academies – Veritas Project, Series 2012, 6.400%, 7/01/47 (Pre-refunded 7/01/21)		7/21 at 100.00		BB+ (4)		1,184,700

30 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
		Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013:
$	2,205	6.000%, 7/01/33		7/20 at 102.00		BB	$	2,000,795
	2,325	6.000%, 7/01/43		7/20 at 102.00		BB		1,979,249
	195	6.000%, 7/01/48		7/20 at 102.00		BB		164,184
	440	Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 7.375%, 7/01/49		7/20 at 102.00		BB		406,463
	400	Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 6.500%, 2/01/48		2/24 at 100.00		N/R		409,740
	825	Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Education Center Project, Series 2010, 6.000%, 6/01/40 (Pre-refunded 6/01/19)		6/19 at 100.00		BB+ (4)		891,734
	3,705	Pinal County Electrical District 3, Arizona, Electric System Revenue Bonds, Refunding Series 2011, 5.250%, 7/01/41 (Pre-refunded 7/01/21)		7/21 at 100.00		A (4)		4,257,267
		Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007:
	1,000	5.250%, 12/01/28		No Opt. Call		BBB+		1,206,920
	13,155	5.000%, 12/01/32		No Opt. Call		BBB+		15,754,560
	7,675	5.000%, 12/01/37		No Opt. Call		BBB+		9,206,162
	1,000	Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2008A, 5.000%, 9/01/22		9/18 at 100.00		A2		1,033,300
	4,300	Scottsdale Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series 2008A, 5.000%, 7/01/21 (Pre-refunded 7/01/18)		7/18 at 100.00		AAA		4,432,741
		Tempe Industrial Development Authority, Arizona, Revenue Bonds, Friendship Village of Tempe Project, Refunding Series 2012A:
	2,590	6.000%, 12/01/27		12/21 at 100.00		N/R		2,806,990
	1,080	6.000%, 12/01/32		12/21 at 100.00		N/R		1,157,458
	1,100	6.250%, 12/01/42		12/21 at 100.00		N/R		1,178,012
	1,000	University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series 2011, 6.000%, 7/01/39 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,174,520
	802	Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds, Series 2005, 6.000%, 7/01/30		12/17 at 100.00		N/R		779,319
	62,532	Total Arizona						70,625,644
		Arkansas – 0.0%
		Benton County Public Facilities Board, Arkansas, Charter School Lease Revenue Bonds, BCCSO Project, Series 2010A:
	500	5.750%, 6/01/30 (Pre-refunded 6/01/20)		6/20 at 100.00		N/R (4)		560,815
	1,020	6.000%, 6/01/40 (Pre-refunded 6/01/20)		6/20 at 100.00		N/R (4)		1,150,754
	1,520	Total Arkansas						1,711,569
		California – 17.9%
		ABAG Finance Authority for Nonprofit Corporations, California, Revenue Bonds, Windemere Ranch Infrastructure Financing Program, Refunding Subordinate Series 2017A:
	1,100	5.000%, 9/02/29 – AGM Insured		9/27 at 100.00		AA		1,334,960
	1,000	5.000%, 9/02/30 – AGM Insured		9/27 at 100.00		AA		1,203,550

NUVEEN 31

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second Subordinate Lien Series 2016B:
$	14,510	5.000%, 10/01/35		10/26 at 100.00		BBB+	$	16,637,311
	4,300	5.000%, 10/01/36		10/26 at 100.00		BBB+		4,915,889
	6,045	5.000%, 10/01/37		10/26 at 100.00		BBB+		6,890,514
	50	Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 0.000%, 10/01/20 – AMBAC Insured		No Opt. Call		BBB+		47,315
	2,350	Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 0.000%, 10/01/20 – AMBAC Insured (ETM)		No Opt. Call		Aaa		2,256,517
	1,000	Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Tender Option Bond Trust 2015-XF2179, 11.219%, 4/01/34 (Pre-Refunded 4/01/18) (IF) (5)		4/18 at 100.00		AA (4)		1,084,080
	2,000	Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Bonds, Refunding Subordinated Series 2014B, 5.000%, 9/02/36		9/24 at 100.00		N/R		2,225,040
	1,715	California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, Series 2008AE, 5.000%, 12/01/21 (Pre-refunded 6/01/18)		6/18 at 100.00		AA+ (4)		1,763,003
	285	California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, Series 2008AE, 5.000%, 12/01/21		6/18 at 100.00		AAA		292,892
	10,000	California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A, 5.000%, 11/15/48		11/27 at 100.00		AA–		11,545,800
	4,650	California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2016A, 5.000%, 11/15/41		11/25 at 100.00		AA–		5,334,294
		California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, Refunding Series 2015:
	4,000	5.000%, 11/15/26		11/25 at 100.00		Aa3		4,873,400
	3,635	5.000%, 11/15/28		11/25 at 100.00		Aa3		4,375,159
	1,670	California Health Facilities Financing Authority, Revenue Bonds, Children’s Hospital Los Angeles, Series 2017A, 5.000%, 8/15/42		8/27 at 100.00		BBB+		1,877,614
	3,015	California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Refunding Series 2015A, 5.000%, 2/01/40		2/25 at 100.00		A+		3,379,905
		California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 2017:
	1,395	5.000%, 2/01/30		2/27 at 100.00		A+		1,667,876
	1,105	5.000%, 2/01/31		2/27 at 100.00		A+		1,311,502
	19,730	California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Green Series 2017A-1, 5.000%, 11/01/27		No Opt. Call		AA–		24,835,335
	5,100	California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2009B, 5.500%, 10/01/39		10/19 at 100.00		AA–		5,489,997
	485	California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B, 5.000%, 10/01/44		10/24 at 100.00		AA–		541,013
	2,185	California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37		7/23 at 100.00		AA–		2,467,302
	2,320	California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2013A, 5.000%, 8/15/52		8/23 at 100.00		AA–		2,602,738
	1,495	California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A, 5.000%, 7/01/46		7/26 at 100.00		BB		1,554,262

32 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	3,300	California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45		8/20 at 100.00		BBB	$	3,570,963
		California Municipal Finance Authority, Revenue Bonds, Biola University, Refunding Series 2017:
	470	5.000%, 10/01/29		10/27 at 100.00		Baa1		565,828
	1,165	5.000%, 10/01/30		10/27 at 100.00		Baa1		1,394,330
	5,000	California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017B, 5.000%, 7/01/42		7/27 at 100.00		Baa2		5,615,050
		California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2017A:
	7,745	5.000%, 7/01/42		7/27 at 100.00		Baa2		8,725,052
	4,480	5.000%, 7/01/47		7/27 at 100.00		Baa2		5,018,720
	1,795	California Municipal Finance Authority, Revenue Bonds, Emerson College Issues, Series 2017B, 5.000%, 1/01/42		1/28 at 100.00		BBB+		2,072,094
		California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A:
	1,000	5.000%, 11/01/30		11/26 at 100.00		BBB–		1,158,760
	1,040	5.250%, 11/01/31		11/26 at 100.00		BBB–		1,222,198
		California Municipal Finance Authority, Revenue Bonds, Community Medical Centers, Series 2017A:
	1,750	5.000%, 2/01/42		2/27 at 100.00		A–		1,963,430
	8,875	5.000%, 2/01/47		2/27 at 100.00		A–		9,904,677
	1,100	California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/37		10/26 at 100.00		BBB–		1,226,962
	1,000	California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2011D, 5.000%, 12/01/20		No Opt. Call		A+		1,120,790
	1,000	California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1, 5.750%, 3/01/30 (Pre-refunded 3/01/20)		3/20 at 100.00		Aaa		1,113,890
		California State University, Systemwide Revenue Bonds, Series 2016A:
	1,500	5.000%, 11/01/24		No Opt. Call		Aa2		1,842,135
	1,250	5.000%, 11/01/25		No Opt. Call		Aa2		1,555,300
	2,000	5.000%, 11/01/26		5/26 at 100.00		Aa2		2,490,920
	2,400	5.000%, 11/01/27		5/26 at 100.00		Aa2		2,970,528
	17,795	California State, General Obligation Bonds, Refunding Various Purpose Series 2016, 5.000%, 9/01/31		9/26 at 100.00		AA–		21,458,991
	20,000	California State, General Obligation Bonds, Refunding Various Purpose Series 2017, 5.000%, 11/01/29		11/27 at 100.00		AA–		24,694,800
	700	California State, General Obligation Bonds, Tender Option Bond Trust 3162, 11.219%, 3/01/40 – AGM Insured (IF) (5)		3/20 at 100.00		AA		983,976
	7,280	California State, General Obligation Bonds, Various Purpose Refunding Series 2015, 5.000%, 8/01/24		No Opt. Call		AA–		8,823,797
	1,870	California State, General Obligation Bonds, Various Purpose Series 2008, 5.000%, 4/01/38		4/18 at 100.00		AA–		1,907,849
	6,605	California State, General Obligation Bonds, Various Purpose Series 2008, 5.000%, 4/01/38 (Pre-refunded 4/01/18)		4/18 at 100.00		Aa3 (4)		6,743,837
	1,400	California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 3/01/30		3/20 at 100.00		AA–		1,535,898
	12,000	California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 8/01/46		8/26 at 100.00		AA–		13,901,280

NUVEEN 33

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	1,000	California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.500%, 12/01/54		12/24 at 100.00		BB+	$	1,101,180
		California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A:
	1,100	5.000%, 12/01/36		6/26 at 100.00		BB		1,220,714
	1,365	5.000%, 12/01/46		6/26 at 100.00		BB		1,493,433
	26,380	5.250%, 12/01/56		6/26 at 100.00		BB		29,038,840
	5,800	California Statewide Communities Development Authority, Pollution Control Revenue Bonds, Southern California Edison Company, Series 2006C, 2.625%, 11/01/33 (Mandatory put 12/01/23)		No Opt. Call		Aa3		5,975,566
	1,725	California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 5.750%, 10/01/25		10/19 at 100.00		BBB+		1,855,617
	600	California Statewide Communities Development Authority, Revenue Bonds, Front Porch Communities and Services Project, Series 2017A, 5.000%, 4/01/47		4/27 at 100.00		A–		677,418
	1,575	California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Tender Option Bond Trust 2016-XG0041, 16.951%, 7/01/47 (Pre-refunded 7/01/18) – AGM Insured (IF)		7/18 at 100.00		AA (4)		1,786,176
		California Statewide Communities Development Authority, Student Housing Revenue Bonds, University of California, Irvine East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series 2017:
	4,000	5.000%, 5/15/42		5/27 at 100.00		Baa1		4,617,480
	4,000	5.000%, 5/15/47		5/27 at 100.00		Baa1		4,592,400
	2,000	5.000%, 5/15/50		5/27 at 100.00		Baa1		2,281,960
		California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:
	825	5.750%, 7/01/30 (6)		12/17 at 100.00		CCC		823,441
	5,300	5.750%, 7/01/35 (6)		12/17 at 100.00		CCC		5,206,985
	2,000	5.500%, 7/01/39 (6)		12/17 at 100.00		CCC		1,900,120
	4,955	California Statewide Community Development Authority, Revenue Bonds, Los Angeles Jewish Home for the Aging-Fountainview Gonda, Series 2014A, 5.000%, 8/01/44		8/22 at 102.00		AA–		5,655,340
	1,000	California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 (Pre-refunded 7/01/18) – FGIC Insured		7/18 at 100.00		AA– (4)		1,037,280
	1,050	California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007B, 5.450%, 7/01/26 (Pre-refunded 7/01/18) – FGIC Insured		7/18 at 100.00		AA– (4)		1,086,771
	1,050	California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007C, 5.450%, 7/01/26 (Pre-refunded 7/01/18) – FGIC Insured		7/18 at 100.00		AA– (4)		1,086,771
	2,000	Clovis Unified School District, Fresno County, California, General Obligation Bonds, Election 2004 Series 2004A, 0.000%, 8/01/26 – NPFG Insured		No Opt. Call		AA+		1,610,140
		Contra Costa County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Refunding Series 2017A:
	5,000	5.000%, 8/01/34 – BAM Insured		8/27 at 100.00		AA		5,893,000
	2,100	5.000%, 8/01/35 – BAM Insured		8/27 at 100.00		AA		2,467,185
	1,685	5.000%, 8/01/36 – BAM Insured		8/27 at 100.00		AA		1,970,220
	400	Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36		12/21 at 100.00		A+		488,972
	6,170	Elk Grove Finance Authority, California, Special Tax Revenue Bonds, Refunding Series 2016, 5.000%, 9/01/46		9/26 at 100.00		N/R		6,863,816

34 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	510	Etiwanda School District, California, Special Tax Bonds, Coyote Canyon Community Facilities District 2004-1 Improvement Area 2, Series 2009, 6.500%, 9/01/32 (Pre-refunded 9/01/19)		9/19 at 100.00		N/R (4)	$	563,677
		Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A:
	1,695	0.000%, 1/15/33		No Opt. Call		BBB–		886,909
	10,000	0.000%, 1/15/35 – AGM Insured		No Opt. Call		AA		5,136,100
	1,385	Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27 – AMBAC Insured		3/18 at 100.00		A		1,406,800
		Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
	3,415	5.000%, 6/01/33		12/17 at 100.00		B+		3,411,243
	18,280	5.750%, 6/01/47		12/17 at 100.00		B3		18,280,000
	7,750	5.125%, 6/01/47		12/17 at 100.00		B–		7,738,840
	1,000	Jurupa Public Financing Authority, California, Special Tax Revenue Bonds, Superior Lien Series 2010A, 5.000%, 9/01/33		9/20 at 100.00		AA		1,091,080
	1,980	Kern Community College District, California, General Obligation Bonds, Safety, Repair & Improvement, Election 2002 Series 2006, 0.000%, 11/01/23 – AGM Insured		No Opt. Call		AA		1,762,497
	2,750	Lammersville Joint Unified School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2014-1 Improvement Area 1 Mountain House School Facilities, Series 2017, 5.000%, 9/01/42		9/27 at 100.00		N/R		3,068,753
	1,500	Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38 (Pre-refunded 12/01/17)		12/17 at 100.00		BB (4)		1,519,170
		Long Beach, California, Harbor Revenue Bonds, Series 2017:
	1,600	5.000%, 5/15/36 (Alternative Minimum Tax)		5/27 at 100.00		AA		1,867,264
	1,400	5.000%, 5/15/37 (Alternative Minimum Tax)		5/27 at 100.00		AA		1,627,500
	1,410	5.000%, 5/15/40 (Alternative Minimum Tax)		5/27 at 100.00		AA		1,632,752
	850	Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2013B, 5.000%, 5/15/30		5/23 at 100.00		AA–		996,515
		Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016A:
	2,500	5.000%, 5/15/25 (Alternative Minimum Tax)		No Opt. Call		AA–		3,014,050
	3,500	5.000%, 5/15/26 (Alternative Minimum Tax)		No Opt. Call		AA–		4,265,240
	4,325	5.000%, 5/15/28 (Alternative Minimum Tax)		5/26 at 100.00		AA–		5,192,941
	2,500	5.000%, 5/15/29 (Alternative Minimum Tax)		5/26 at 100.00		AA–		2,977,550
	3,000	5.000%, 5/15/30 (Alternative Minimum Tax)		5/26 at 100.00		AA–		3,559,590
	15,000	Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017C, 5.000%, 7/01/47		7/27 at 100.00		Aa2		17,624,400
		Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2017A:
	2,300	5.000%, 7/01/34		1/27 at 100.00		AA+		2,753,491
	2,500	5.000%, 7/01/35		1/27 at 100.00		AA+		2,981,575
	1,000	Los Angeles Harbors Department, California, Revenue Bonds, Series 2009B, 5.250%, 8/01/39 (Pre-refunded 8/01/19)		8/19 at 100.00		AA (4)		1,078,860
	5,000	Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2017A, 5.000%, 7/01/26		No Opt. Call		AAA		6,276,900
	2,500	Los Angeles, California, Wastewater System Revenue Bonds, Refunding Green Subordinate Lien Series 2017B, 5.000%, 6/01/35		6/27 at 100.00		AA		3,000,650

NUVEEN 35

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	500	Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.000%, 9/01/31		9/21 at 100.00		A–	$	605,280
	3,000	Madera County, California, Certificates of Participation, Children’s Hospital Central California, Series 2010, 5.375%, 3/15/36		3/20 at 100.00		AA–		3,223,200
	1,000	Manteca Financing Authority, California, Sewer Revenue Bonds, Series 2009, 5.750%, 12/01/36		12/19 at 100.00		AA		1,092,970
	8,535	Marin Healthcare District, Marin County, California, General Obligation Bonds, 2013 Election, Series 2017A, 5.000%, 8/01/41		8/27 at 100.00		AAA		10,115,511
	1,000	Modesto Irrigation District, California, Electric System Revenue Bonds, Refunding Series 2011A, 5.000%, 7/01/26		7/21 at 100.00		A+		1,117,030
		M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A:
	2,800	7.000%, 11/01/34		No Opt. Call		A		4,002,572
	2,500	6.500%, 11/01/39		No Opt. Call		A		3,531,025
	13,750	Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Series 1993, 5.800%, 8/01/23 – NPFG Insured (ETM)		2/18 at 100.00		A (4)		15,455,550
		Orange County, California, Special Tax Bonds, Community Facilities District 2016-1 Esencia Village, Series 2016A:
	1,250	5.000%, 8/15/41		8/26 at 100.00		N/R		1,390,338
	2,000	5.000%, 8/15/46		8/26 at 100.00		N/R		2,220,700
		Palm Desert Redevelopment Agency, California, Successor Agency Redevelopment Project Area, Series 2017A:
	500	5.000%, 10/01/28 – BAM Insured		4/27 at 100.00		AA		607,415
	500	5.000%, 10/01/30 – BAM Insured		4/27 at 100.00		AA		597,815
	1,075	Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.000%, 4/01/25		12/17 at 100.00		CCC+		1,032,925
	1,740	Palmdale, California, Special Tax Bonds, Community Facilities District 2003-1, Anaverde Project, Series 2005A, 5.350%, 9/01/30		3/18 at 100.00		N/R		1,757,452
	3,000	Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.625%, 11/01/29 (Pre-refunded 11/01/19)		11/19 at 100.00		N/R (4)		3,352,260
	1,710	Perris Public Financing Authority, California, Tax Allocation Revenue Bonds, Housing Loan Series 2010A, 6.125%, 10/01/40		10/20 at 100.00		A		1,940,217
	3,775	Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Election 2008 Series 2009A, 0.000%, 8/01/23		No Opt. Call		AA–		3,374,548
	5,500	Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Series 2011A, 0.000%, 8/01/41		No Opt. Call		AA–		2,270,510
	15,000	Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011A, 0.000%, 8/01/41 – AGM Insured (7)		8/36 at 100.00		AA		14,133,150
	4,000	Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37		6/20 at 100.00		A–		4,483,160
	715	Roseville, California, Special Tax Bonds, Community Facilities District 1 Hewlett Packard Campus Oaks, Series 2016, 5.500%, 9/01/46		9/26 at 100.00		N/R		791,398
	890	Sacramento, California, Special Tax Bonds, Community Facilities District 05-1 College Square, Series 2007, 5.900%, 9/01/37		3/18 at 100.00		N/R		899,452

36 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A:
$	2,000	5.000%, 7/01/42 (Alternative Minimum Tax)		7/27 at 100.00		A	$	2,308,600
	2,500	5.000%, 7/01/47		7/27 at 100.00		A		2,903,650
	7,075	5.000%, 7/01/47 (Alternative Minimum Tax)		7/27 at 100.00		A		8,121,817
		San Diego Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Refunding Series 2017A:
	1,815	5.000%, 9/01/36		9/26 at 100.00		AA		2,123,586
	6,160	5.000%, 9/01/40		9/26 at 100.00		AA		7,138,886
	2,000	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series A of 2009, 4.900%, 5/01/29		11/19 at 100.00		A+		2,154,520
	670	San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2009C, 6.500%, 8/01/39 (Pre-refunded 8/01/19)		8/19 at 100.00		A– (4)		738,065
	13,300	San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B, 5.250%, 1/15/44		1/25 at 100.00		BBB–		14,579,859
	9,745	San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 1/15/44		1/25 at 100.00		BBB		10,768,810
	8,400	San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C, 4.250%, 8/01/30 – NPFG Insured		12/17 at 100.00		A+		8,416,632
	2,000	San Jose, California, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 3/01/22 (Alternative Minimum Tax)		No Opt. Call		A2		2,296,340
	440	Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 7.000%, 8/01/31 (Pre-refunded 2/01/21)		2/21 at 100.00		A (4)		525,184
	2,355	Semitrophic Improvement District of Semitrophic Water Storage District, Kern County, California, Revenue Bonds, Refunding Series 2009A, 5.000%, 12/01/38 (Pre-refunded 12/01/19)		12/19 at 100.00		A+ (4)		2,559,814
	4,000	Southern California Public Power Authority, Transmission Project Revenue Bonds, Southern Transmission Subordinate Lien Refunding Series 2008A, 5.000%, 7/01/20		7/18 at 100.00		AA–		4,125,800
	275	Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 6.250%, 9/01/47		9/27 at 100.00		N/R		286,074
	500	Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 6.750%, 8/01/31		8/21 at 100.00		BBB+		595,735
	4,750	Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2006A, 5.125%, 6/01/46		12/17 at 100.00		B+		4,749,715
	920	Tustin Community Redevelopment Agency, California, Tax Allocation Housing Bonds Series 2010, 5.000%, 9/01/30 (Pre-refunded 9/01/20) – AGM Insured		9/20 at 100.00		AA (4)		1,026,370
	15,000	University of California, General Revenue Bonds, Limited Project Series 2017M, 5.000%, 5/15/47		5/27 at 100.00		AA–		17,505,600
	5,000	University of California, General Revenue Bonds, Series 2017AV, 5.000%, 5/15/33		5/27 at 100.00		AA		6,054,050
	205	Val Verde Unified School District, Riverside County, California, Certificates of Participation, Series 2009A, 5.125%, 3/01/36 – AGC Insured		3/19 at 100.00		AA		215,100
	730	Ventura County Area Housing Authority, California, Multifamily Revenue Bonds, Mira Vista Senior Apartments Project, Series 2006A, 5.000%, 12/01/22 – AMBAC Insured (Alternative Minimum Tax)		12/17 at 100.00		N/R		737,227

NUVEEN 37

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	5,000	Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured (7)		8/26 at 100.00		AA	$	5,505,350
	1,500	Western Placer Unified School District, Placer County, California, Certificates of Participation, Refunding Series 2009, 5.250%, 8/01/35 (Pre-refunded 8/01/19) – AGM Insured		8/19 at 100.00		AA (4)		1,617,990
		Westminster School District, Orange County, California, General Obligation Bonds, Series 2009-A1:
	2,485	0.000%, 8/01/26 – AGC Insured		No Opt. Call		AA		2,004,078
	1,405	0.000%, 8/01/28 – AGC Insured		No Opt. Call		AA		1,046,008
	2,920	0.000%, 8/01/29 – AGC Insured		No Opt. Call		AA		2,075,390
		William S. Hart Union High School District, Los Angeles County, California, Special Tax Bonds, Community Facilities District 2015-1, Series 2017:
	1,425	5.000%, 9/01/42		9/26 at 100.00		N/R		1,579,498
	1,205	5.000%, 9/01/47		9/26 at 100.00		N/R		1,323,849
	572,910	Total California						631,612,570
		Colorado – 3.6%
	1,075	Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2013, 7.000%, 12/01/23		7/18 at 100.00		N/R		1,079,289
	2,065	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy Project, Series 2008, 6.500%, 7/01/38		7/18 at 100.00		BB		2,097,007
	3,040	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy, Inc. Second Campus Project, Series 2013, 7.350%, 8/01/43		8/23 at 100.00		BB		3,518,800
	1,025	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Crown Pointe Academy of Westminster Project, Chartered Through Adams County School District 50, Series 2009, 5.000%, 7/15/39		7/19 at 100.00		BBB		1,041,810
	2,500	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc. High School Project, Series 2010, 5.125%, 12/01/39		12/19 at 100.00		BBB–		2,550,250
	875	Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Pikes Peak School of Expeditionary Learning Charter School, Series 2008, 6.625%, 6/01/38 (Pre-refunded 6/01/18)		6/18 at 102.00		N/R (4)		922,084
	3,000	Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003A, 5.500%, 5/15/30 (Pre-refunded 5/15/19) – AGM Insured		5/19 at 100.00		AA (4)		3,216,900
	1,500	Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes Project, Series 2009A, 7.750%, 8/01/29 (Pre-refunded 8/01/19)		8/19 at 100.00		N/R (4)		1,679,925
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Colorado Senior Residences Project, Series 2012:
	1,370	7.000%, 6/01/42 (8)		6/22 at 100.00		N/R		1,074,765
	1,375	7.125%, 6/01/47 (8)		6/22 at 100.00		N/R		1,078,688
	12,000	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc., Refunding Series 2012A, 5.000%, 12/01/33		12/22 at 100.00		BBB+		12,838,440
	6,155	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A, 5.000%, 6/01/45		6/25 at 100.00		A–		6,642,230
	725	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.625%, 6/01/43		6/23 at 100.00		BBB		816,705
	3,000	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Refunding Series 2015B, 4.000%, 9/01/34		9/25 at 100.00		A3		3,088,260

38 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	100	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005B, 5.250%, 3/01/36 – AGM Insured		9/18 at 102.00		AA	$	104,614
	3,000	Colorado Health Facilities Authority, Colorado, 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–		3,243,630
	1,100	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Long-Term Care National Obligated Group Project, Series 2010A, 6.250%, 11/15/40 (Pre-refunded 11/15/20)		11/20 at 100.00		N/R (4)		1,270,841
	1,590	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		A–		1,644,108
	540	Compark Business Campus Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007A, 5.750%, 12/01/27 – RAAI Insured		12/17 at 100.00		AA		541,631
	1,000	Compark Business Campus Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Series 2012A, 6.750%, 12/01/39 – RAAI Insured		12/22 at 100.00		N/R		1,062,760
	1,995	Concord Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Refunding Series 2010, 5.375%, 12/01/40		12/20 at 100.00		BBB+		2,132,894
	165	Confluence Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007, 5.250%, 12/01/17		No Opt. Call		N/R		164,868
	1,730	Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/21		11/20 at 100.00		A+		1,926,545
	5,000	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A, 5.250%, 11/15/43 (Alternative Minimum Tax)		11/23 at 100.00		A		5,583,750
		Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016:
	510	5.000%, 12/01/31		12/26 at 100.00		Baa2		593,462
	3,500	5.000%, 12/01/32		12/26 at 100.00		Baa2		4,051,425
	1,200	5.000%, 12/01/33		12/26 at 100.00		Baa2		1,379,724
	565	5.000%, 12/01/34		12/26 at 100.00		Baa2		646,710
	300	5.000%, 12/01/35		12/26 at 100.00		Baa2		342,618
	11,555	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/24 – NPFG Insured		No Opt. Call		A		9,746,874
		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
	20	0.000%, 9/01/29 – NPFG Insured		No Opt. Call		A		13,682
	395	0.000%, 9/01/30 – NPFG Insured		No Opt. Call		A		258,330
	20	0.000%, 9/01/32 – NPFG Insured		No Opt. Call		A		11,865
	25	0.000%, 9/01/33 – NPFG Insured		No Opt. Call		A		14,143
	9,890	E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/27 – NPFG Insured		No Opt. Call		A		7,355,193
	1,160	El Paso County School District 49 Falcon, Colorado, Certificates of Participation, Series 2015, 5.000%, 12/15/28		12/25 at 100.00		Aa3		1,386,676
	1,035	Erie Farm Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2016A, 5.500%, 12/01/45		12/21 at 103.00		N/R		1,022,207
	1,926	Fitzsimons Village Metropolitan District 1, Aurora, Arapahoe County, Colorado, Tax Increment Public Improvement Fee Supported Revenue Bonds, Series 2010A, 7.500%, 3/01/40		3/20 at 100.00		N/R		2,032,835
	1,365	Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014, 6.000%, 12/01/38		12/24 at 100.00		N/R		1,412,229

NUVEEN 39

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	750	Fossil Ridge Metropolitan District 1, Lakewood, Colorado, Tax-Supported Revenue Bonds, Refunding Series 2010, 7.250%, 12/01/40		12/20 at 100.00		N/R	$	799,410
	3,600	Fossil Ridge Metropolitan District No. 3, In the City of Lakewood, Jefferson County, Colorado, General Obligation Limited Tax Bonds, Series 2014, 5.000%, 12/01/44		12/20 at 100.00		BBB		3,713,868
	9,265	Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A, 5.375%, 12/01/46		12/21 at 103.00		N/R		8,986,957
	2,025	Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2009, 6.375%, 12/01/37 (Pre-refunded 12/01/19) – AGC Insured		12/19 at 100.00		AA (4)		2,254,473
	620	Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45		12/25 at 100.00		N/R		669,104
	4,300	Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013, 4.500%, 12/01/30		12/22 at 100.00		N/R		4,375,207
		Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008:
	2,170	6.250%, 11/15/28		No Opt. Call		A		2,743,509
	3,580	6.500%, 11/15/38		No Opt. Call		A		5,027,215
		Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:
	1,025	5.250%, 7/15/24		7/20 at 100.00		BBB+		1,102,746
	4,265	6.000%, 1/15/41		7/20 at 100.00		BBB+		4,679,217
	575	Sterling Hills West Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Refunding & Improvement Series 2007, 5.000%, 12/01/39		12/27 at 100.00		Baa2		635,289
	815	Three Springs Metropolitan District 3, Durango, La Plata County, Colorado, Property Tax Supported Revenue Bonds, Series 2010, 7.750%, 12/01/39		12/20 at 100.00		N/R		851,724
	122,381	Total Colorado						125,427,486
		Connecticut – 0.8%
	860	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 2016A, 5.000%, 9/01/53		9/26 at 100.00		N/R		862,425
	1,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41		7/21 at 100.00		A		1,118,570
	11,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT, 5.000%, 12/01/45		6/26 at 100.00		AA–		12,435,280
	1,675	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2015A, 5.000%, 8/01/35		8/25 at 100.00		AA		1,898,646
	8,785	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A, 4.000%, 9/01/34		9/26 at 100.00		AA		9,228,994
	663	Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.000%, 4/01/22		4/20 at 100.00		N/R		714,893
	1,800	Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41 (Pre-refunded 4/01/21)		4/21 at 100.00		N/R (4)		2,148,444
	25,783	Total Connecticut						28,407,252
		Delaware – 0.2%
	950	Delaware Economic Development Authority, Exempt Facility Revenue Bonds, Indian River Power LLC Project, Series 2010, 5.375%, 10/01/45		10/20 at 100.00		Baa3		988,285

40 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Delaware (continued)
$	1,000	Delaware Economic Development Authority, Revenue Bonds, ASPIRA of Delaware Charter Operations, Inc. Project, Series 2016A, 5.000%, 6/01/46		6/26 at 100.00		BB+	$	1,019,170
	5,000	Delaware Transportation Authority, Transportation System Revenue Bonds, Senior Lien Series 2008, 5.000%, 7/01/19		No Opt. Call		AA+		5,347,100
	6,950	Total Delaware						7,354,555
		Florida – 4.7%
		Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A:
	300	5.000%, 11/15/23		No Opt. Call		BBB		343,737
	2,300	5.000%, 11/15/28		11/23 at 100.00		BBB		2,547,365
	1,250	Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2010A, 6.000%, 9/01/40		9/20 at 100.00		BBB–		1,303,887
	480	Boynton Village Community Development District, Florida, Special Assessment Bonds, Series 2007-A1, 5.750%, 5/01/37		12/17 at 100.00		N/R		480,082
	855	Brevard County Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Health First, Inc. Project, Series 2009B, 7.000%, 4/01/39 (Pre-refunded 4/01/19)		4/19 at 100.00		A (4)		931,805
	6,000	Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 – AGM Insured		10/21 at 100.00		AA		6,725,220
		Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments Project, Series 2015A:
	1,500	4.750%, 7/04/40		7/25 at 100.00		A		1,568,190
	1,380	5.000%, 7/04/50		7/25 at 100.00		A		1,446,751
	4,710	Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1, 5.000%, 6/01/19		No Opt. Call		AA		5,010,074
	1,025	Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26		No Opt. Call		A		1,165,066
	1,000	Clearwater, Florida, Water and Sewer Revenue Bonds, Series 2009A, 5.250%, 12/01/39 (Pre-refunded 12/01/19) – AGC Insured		12/19 at 100.00		AA (4)		1,091,950
	1,000	Coco Palms Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, Series 2016, 5.000%, 5/01/46		5/27 at 100.00		N/R		1,008,300
	2,885	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Bay Area Charter Foundation, LLC Projects, Series 2011A, 7.750%, 6/15/42		12/21 at 101.00		N/R		3,173,183
	1,000	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2010A, 6.000%, 9/15/30		9/20 at 100.00		BB+		1,050,750
		Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2012A:
	1,000	5.500%, 6/15/22		No Opt. Call		N/R		1,079,800
	500	6.000%, 6/15/32		6/22 at 100.00		N/R		537,185
	1,100	6.125%, 6/15/43		6/22 at 100.00		N/R		1,179,860
	2,000	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2013A, 8.500%, 6/15/44		6/23 at 100.00		N/R		2,341,640
	1,500	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2014A, 6.125%, 6/15/44		6/24 at 100.00		N/R		1,576,755
	1,570	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A, 6.125%, 6/15/46		6/25 at 100.00		N/R		1,652,080

NUVEEN 41

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	3,180	Florida Development Finance Corporation, Revenue Bonds, Learning Gate Community Charter School Project, Series 2007A, 6.000%, 2/15/37		12/17 at 100.00		B+	$	3,019,346
	6,800	Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2012A, 5.000%, 4/01/27		4/22 at 100.00		A–		7,496,592
		Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Rollins College Project, Series 2012A:
	1,210	5.000%, 12/01/30		12/22 at 100.00		A2		1,366,163
	1,000	5.000%, 12/01/31		12/22 at 100.00		A2		1,126,760
	3,000	5.000%, 12/01/37		12/22 at 100.00		A2		3,357,030
	1,000	Florida Housing Finance Agency, Housing Revenue Bonds, Stoddert Arms Apartments, Series 1996O, 6.300%, 9/01/36 – AMBAC Insured (Alternative Minimum Tax)		3/18 at 100.00		N/R		1,001,490
	1,000	Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 5.000%, 5/01/46		5/26 at 100.00		N/R		1,015,240
	3,130	Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Senior Lien Series 2015A, 5.000%, 10/01/44 (Alternative Minimum Tax)		10/24 at 100.00		AA–		3,460,403
	750	Jacksonville Economic Development Commission, Florida, Industrial Development Revenue Bonds, Gerdau Ameristeel US Inc. Project, Series 2007, 5.300%, 5/01/37 (Alternative Minimum Tax)		5/18 at 100.00		BBB–		746,347
	840	Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2007A, 5.250%, 6/15/27		12/18 at 100.00		BB		840,244
		Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2012A:
	875	5.500%, 6/15/32		6/22 at 100.00		BB		890,890
	1,375	5.750%, 6/15/42		6/22 at 100.00		BB		1,399,228
	6,875	Martin County Health Facilities Authority, Florida, Hospital Revenue Bonds, Martin Memorial Medical Center, Series 2015, 5.000%, 11/15/45		11/24 at 100.00		A–		7,439,162
		Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013:
	885	3.950%, 12/15/21 (Alternative Minimum Tax)		6/20 at 100.00		Baa2		909,709
	9,500	4.200%, 12/15/25 (Alternative Minimum Tax)		6/20 at 100.00		Baa2		9,758,875
	2,000	Miami Beach Health Facilities Authority, Florida, Hospital Revenue Bonds, Mount Sinai Medical Center of Florida Project, Refunding 2012, 5.000%, 11/15/29		11/22 at 100.00		Baa1		2,195,480
	6,340	Miami Beach Redevelopment Agency, Florida, Tax Increment Revenue Bonds, City Center/Historic Convention Village, Series 2015A, 5.000%, 2/01/44 – AGM Insured		2/24 at 100.00		AA		7,188,038
	860	Miami-Dade County Health Facility Authority, Florida, Hospital Revenue Bonds, Nicklaus Children’s Hospital, Refunding Series 2017, 5.000%, 8/01/36		8/27 at 100.00		A+		988,957
	1,585	Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/35		10/20 at 100.00		A		1,751,774
	12,195	Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/38 (Alternative Minimum Tax)		10/25 at 100.00		A		13,817,301
	2,000	Miami-Dade County, Florida, Aviation Revenue Bonds, Series 2008A, 5.500%, 10/01/27 (Pre-refunded 10/01/18) – AGC Insured (Alternative Minimum Tax)		10/18 at 100.00		AA (4)		2,089,720
	1,040	Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series 2009, 5.625%, 6/01/34 – AGM Insured (UB) (5)		6/19 at 100.00		AA		1,120,246
	22,160	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42		10/22 at 100.00		Aa3		24,707,292

42 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Orange County Health Facilities Authority, Florida, Revenue Bond, Mayflower Retirement Center, Refunding Series 2012:
$	550	4.500%, 6/01/27		6/21 at 100.00		A–	$	582,560
	625	5.000%, 6/01/32		6/21 at 100.00		A–		665,219
	750	5.000%, 6/01/36		6/21 at 100.00		A–		792,660
	875	5.125%, 6/01/42		6/21 at 100.00		A–		923,869
	145	Orange County, Florida, Sales Tax Revenue Bonds, Series 1989, 6.125%, 1/01/19 – FGIC Insured (ETM)		1/18 at 100.00		N/R (4)		151,392
	1,010	Riverbend West Community Development District, Florida, Special Assessment Bonds, Series 2016, 5.000%, 5/01/46		5/27 at 100.00		N/R		1,014,535
	830	Stoneybrook Venice Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2007, 6.750%, 5/01/38 (Pre-refunded 5/01/18)		5/18 at 100.00		N/R (4)		857,979
	500	Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014A, 5.000%, 7/01/29		1/24 at 100.00		A–		564,540
	535	Sunrise, Florida, Utility System Revenue Refunding Bonds, Series 1998, 5.000%, 10/01/28 – AMBAC Insured		10/18 at 100.00		AA–		555,453
	35	Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33		5/22 at 100.00		Aa2		38,962
	165	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-2, 6.610%, 5/01/39		12/17 at 100.00		N/R		165,002
	290	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (7)		5/19 at 100.00		N/R		226,998
	210	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (7)		5/22 at 100.00		N/R		131,187
	170	Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.650%, 5/01/40 (8)		5/18 at 100.00		N/R		2
	475	Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007A-2, 5.250%, 5/01/39 (8)		5/18 at 100.00		N/R		5
	15	Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.650%, 5/01/40		5/18 at 100.00		N/R		15,064
	100	Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007A-1. RMKT, 5.250%, 5/01/39		5/18 at 100.00		N/R		96,560
		Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2012A-1:
	90	5.250%, 5/01/39		12/17 at 100.00		N/R		86,941
	295	6.650%, 5/01/40		5/18 at 100.00		N/R		295,080
	435	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (8)		5/18 at 100.00		N/R		273,624
	270	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (8)		5/18 at 100.00		N/R		136,766
	290	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (8)		5/18 at 100.00		N/R		3
	2,415	Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37		12/17 at 100.00		N/R		2,415,072
	250	Venetian Community Development District, Sarasota County, Florida, Capital Improvement Revenue Bonds, Series 2012-A1, 6.125%, 5/01/42		5/22 at 100.00		N/R		260,873

NUVEEN 43

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	1,500	Venetian Community Development District, Sarasota County, Florida, Capital Improvement Revenue Bonds, Series 2012-A2, 5.500%, 5/01/34		5/22 at 100.00		N/R	$	1,558,410
		Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Refunding Series 2017:
	1,330	5.000%, 10/15/42		10/27 at 100.00		A3		1,535,485
	3,000	5.000%, 10/15/47		10/27 at 100.00		A3		3,441,270
	13,000	Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/40		6/25 at 100.00		A–		14,627,210
		Wynnmere East Community Development District, Hillsborough County, Florida, Special Assessment Revenue Bonds, Series 2016:
	500	5.125%, 5/01/36		5/28 at 100.00		N/R		510,345
	990	5.500%, 5/01/46		5/28 at 100.00		N/R		1,018,047
	154,600	Total Florida						166,841,080
		Georgia – 2.1%
	615	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31 (Pre-refunded 1/01/19)		1/19 at 100.00		A2 (4)		661,943
	870	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 6.750%, 1/01/20 (Pre-refunded 1/01/19)		1/19 at 100.00		A2 (4)		916,345
	4,565	Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.375%, 11/01/39 (Pre-refunded 11/01/19) – AGM Insured		11/19 at 100.00		Aa2 (4)		4,977,813
	2,435	Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B, 5.375%, 11/01/39 – AGM Insured		11/19 at 100.00		Aa2		2,647,843
		Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2017A:
	3,500	5.000%, 11/01/28		11/27 at 100.00		Aa2		4,354,140
	5,120	5.000%, 11/01/29		11/27 at 100.00		Aa2		6,317,517
	5,175	5.000%, 11/01/30		11/27 at 100.00		Aa2		6,350,708
	10,000	Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Athletic Association, Series 2011, 5.750%, 10/01/41		4/21 at 100.00		A+		11,283,500
	1,100	Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993BB, 5.250%, 1/01/25 – NPFG Insured		No Opt. Call		A1		1,272,964
	1,000	Lavonia Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Regional Medical Center , Series 2010, 6.000%, 12/01/40 (Pre-refunded 12/01/20) – AGM Insured		12/20 at 100.00		AA (4)		1,151,370
		Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A:
	960	5.000%, 3/15/22		No Opt. Call		A+		1,088,026
	1,000	5.500%, 9/15/28		No Opt. Call		A		1,219,500
	22,045	Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Third Indenture, Refunding Series 2015C, 5.000%, 7/01/27		7/26 at 100.00		AA+		27,192,948
	3,000	Municipal Electric Authority of Georgia, Project One Revenue Bonds, Subordinate Lien Series 2016A, 5.000%, 1/01/28		7/26 at 100.00		A		3,544,980
	1,590	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 5.250%, 10/01/27		10/21 at 100.00		Baa2		1,747,871
	1,000	Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State University, Windward Commons LLC Project, Series 2009, 5.000%, 6/15/39 (Pre-refunded 6/15/19) – AGC Insured		6/19 at 100.00		AA (4)		1,067,030
	63,975	Total Georgia						75,794,498

44 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Guam – 0.2%
$	1,020	Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/31		1/22 at 100.00		A	$	1,077,059
	2,000	Guam Government Department of Education, Certificates of Participation, John F. Kennedy High School Project, Series 2010A, 6.625%, 12/01/30		12/20 at 100.00		B+		2,092,280
	1,005	Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40		7/20 at 100.00		A–		1,066,828
	1,610	Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax)		10/23 at 100.00		BBB		1,841,888
	5,635	Total Guam						6,078,055
		Hawaii – 0.3%
	1,500	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43		7/23 at 100.00		A1		1,692,570
	1,000	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43		7/23 at 100.00		BB		1,078,170
		Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009A:
	935	8.750%, 11/15/29 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		1,069,818
	1,250	9.000%, 11/15/44 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		1,456,587
	4,545	Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/45 (Alternative Minimum Tax)		7/25 at 100.00		A+		5,112,716
	9,230	Total Hawaii						10,409,861
		Idaho – 0.2%
		Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016:
	2,300	3.500%, 9/01/33		9/26 at 100.00		BB+		2,103,580
	205	5.000%, 9/01/37		9/26 at 100.00		BB+		224,030
		Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Refunding Series 2008B:
	1,000	6.000%, 12/01/23 (Pre-refunded 12/01/18)		12/18 at 100.00		AA– (4)		1,056,850
	760	6.250%, 12/01/33 (Pre-refunded 12/01/18)		12/18 at 100.00		AA– (4)		805,418
	2,000	Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, Idaho Arts Charter School, Inc. Project, Refunding Series 2016A, 5.000%, 12/01/38		12/26 at 100.00		BBB–		2,137,920
	6,265	Total Idaho						6,327,798
		Illinois – 12.0%
	2,000	Bensenville, Illinois, General Obligation Bonds, Series 2011A, 5.000%, 12/15/30 – AGM Insured		12/21 at 100.00		AA		2,201,300
		Champaign, Illinois, General Obligation Sales Tax Bonds, Public Safety Series 1999:
	1,140	8.250%, 1/01/21 – FGIC Insured		No Opt. Call		A		1,375,467
	1,275	8.250%, 1/01/22 – FGIC Insured		No Opt. Call		A		1,594,923
	67,800	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Capital Improvement Revenues, Series 2016, 6.000%, 4/01/46		4/27 at 100.00		A		80,022,306
	590	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A, 5.000%, 12/01/42		12/22 at 100.00		B+		586,613
	1,215	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Project Series 2015C, 5.250%, 12/01/39		12/24 at 100.00		B+		1,213,323

NUVEEN 45

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	35,090	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44		12/25 at 100.00		B	$	41,056,704
	2,100	Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40		12/21 at 100.00		AA		2,256,597
	3,180	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2015C, 5.000%, 1/01/46 (Alternative Minimum Tax)		1/25 at 100.00		A		3,515,331
	900	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2014A, 5.000%, 1/01/35		1/24 at 100.00		BBB+		950,337
	8,805	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38		1/27 at 100.00		BBB+		10,199,712
	920	Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2003B, 5.500%, 1/01/33		1/25 at 100.00		BBB+		1,014,079
	13,760	Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2005D, 5.500%, 1/01/40		1/25 at 100.00		BBB+		15,056,880
		Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C:
	590	5.000%, 1/01/34		1/19 at 100.00		BBB+		604,703
	1,815	5.000%, 1/01/40		1/19 at 100.00		BBB+		1,860,230
		Chicago, Illinois, General Obligation Bonds, Project Series 2011A:
	400	5.250%, 1/01/35		1/21 at 100.00		BBB+		417,092
	1,035	5.000%, 1/01/40		1/21 at 100.00		BBB+		1,069,145
	1,000	Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/33		1/22 at 100.00		BBB+		1,041,140
	7,545	Chicago, Illinois, General Obligation Bonds, Refunding Series 2007E, 5.500%, 1/01/42		1/25 at 100.00		BBB+		8,246,157
	1,635	Chicago, Illinois, General Obligation Bonds, Refunding Series 2009A, 5.000%, 1/01/22		1/20 at 100.00		BBB+		1,732,920
	1,320	Chicago, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 1/01/25		1/22 at 100.00		BBB+		1,421,389
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	2,260	5.000%, 1/01/24		No Opt. Call		BBB+		2,528,262
	935	5.000%, 1/01/25		No Opt. Call		BBB+		1,052,184
	2,150	5.000%, 1/01/29		1/26 at 100.00		BBB+		2,363,194
	705	5.000%, 1/01/35		1/26 at 100.00		BBB+		752,580
	2,175	5.000%, 1/01/38		1/26 at 100.00		BBB+		2,317,071
	2,200	Chicago, Illinois, General Obligation Bonds, Series 2015A, 5.500%, 1/01/39		1/25 at 100.00		BBB+		2,408,802
	715	Chicago, Illinois, General Obligation Bonds, Variable Rate Demand Series 2007F, 5.500%, 1/01/42		1/25 at 100.00		BBB+		781,445
	4,440	Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33		11/20 at 100.00		AA–		4,763,454
	2,000	Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.500%, 10/15/40		10/20 at 100.00		B–		2,149,960
		DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago and Boone Counties Community College District 523, Illinois, General Obligation Bonds, Kishwaukee Community College, Series 2011B:
	1,000	0.000%, 2/01/35		2/21 at 100.00		AA–		356,780
	750	0.000%, 2/01/36		2/21 at 100.00		AA–		248,707
	1,610	Harvey, Cook County, Illinois, Tax Increment Allocation Revenue Bonds, Amended Center Street Redevelopment Project Area, Series 2010, 7.500%, 12/01/19		No Opt. Call		N/R		1,690,500
		Illinois Finance Authority, Charter School Revenue Bonds, Chicago Charter School Foundation, Series 2007:
	310	5.000%, 12/01/26		11/17 at 100.00		BBB		310,329
	11,050	5.000%, 12/01/36		11/17 at 100.00		BBB		11,056,409

46 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	1,400	Illinois Finance Authority, Charter School Revenue Bonds, Uno Charter School Network, Refunding and Improvement Series 2011A, 7.125%, 10/01/41		10/21 at 100.00		BB+	$	1,536,556
	2,195	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 5.000%, 9/01/34		9/24 at 100.00		BBB–		2,358,088
	1,255	Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39		11/19 at 100.00		AA+		1,331,906
	850	Illinois Finance Authority, Revenue Bonds, Christian Homes Inc. Obligated Group, Series 2007A, 5.750%, 5/15/31		12/17 at 100.00		BBB–		851,496
	1,290	Illinois Finance Authority, Revenue Bonds, Christian Homes Inc., Refunding Series 2010, 6.125%, 5/15/27		5/20 at 100.00		BBB–		1,394,245
	710	Illinois Finance Authority, Revenue Bonds, Christian Homes Inc., Refunding Series 2010, 6.125%, 5/15/27 (Pre-refunded 5/15/20)		5/20 at 100.00		N/R (4)		801,263
	1,000	Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A, 5.500%, 2/01/40 (Pre-refunded 2/01/18) – AMBAC Insured		2/18 at 100.00		A (4)		1,015,250
	4,050	Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 7.125%, 2/01/34		2/19 at 100.00		Baa3		4,196,974
	3,895	Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 4.250%, 5/15/43		5/22 at 100.00		Baa1		3,811,413
	10,810	Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/40		6/26 at 100.00		A3		11,751,875
	2,000	Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2009A, 5.375%, 8/15/24		8/19 at 100.00		AA+		2,154,420
	740	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39		5/20 at 100.00		A		808,221
	1,635	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39 (Pre-refunded 5/15/20)		5/20 at 100.00		N/R (4)		1,837,168
	500	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 5.750%, 11/15/37 (Pre-refunded 11/15/17)		11/17 at 100.00		A (4)		503,180
	10,715	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/45		11/25 at 100.00		A		11,708,280
	1,545	Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35		5/20 at 100.00		AA–		1,636,557
		Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:
	25	7.750%, 8/15/34 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		28,095
	2,875	7.750%, 8/15/34 (Pre-refunded 8/15/19)		8/19 at 100.00		BBB– (4)		3,230,896
		Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A:
	895	5.500%, 7/01/28		7/23 at 100.00		A–		1,027,979
	3,000	6.500%, 7/01/34		7/18 at 100.00		A–		3,104,550
	3,680	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A, 7.250%, 11/01/30 (Pre-refunded 11/01/18)		11/18 at 100.00		Aaa		3,926,744
	1,335	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.625%, 11/01/39 (Pre-refunded 5/01/19)		5/19 at 100.00		Aaa		1,452,360
	20	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 4.000%, 11/15/39		5/25 at 100.00		A+		20,302
	1,665	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.625%, 11/01/39 (Pre-Refunded 5/01/19) (UB) (5)		5/19 at 100.00		Aaa		1,811,370

NUVEEN 47

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	3,485	Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2008A, 5.500%, 8/15/30		8/18 at 100.00		BBB+	$	3,571,707
	1,105	Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C, 5.000%, 8/15/35		8/25 at 100.00		Baa1		1,207,876
	9,000	Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		9,963,630
	925	Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2005 Remarketed, 5.250%, 3/01/30 (Pre-refunded 3/01/20) – AGM Insured		3/20 at 100.00		AA (4)		1,017,047
	4,000	Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41		8/21 at 100.00		AA–		4,536,400
	930	Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2009B, 5.000%, 8/15/26		8/20 at 100.00		AA–		1,007,023
	470	Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2009B, 5.000%, 8/15/26 (Pre-refunded 8/15/20)		8/20 at 100.00		N/R (4)		521,460
	1,500	Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 (Pre-refunded 2/15/21)		2/21 at 100.00		AA– (4)		1,715,820
	4,000	Illinois Housing Development Authority, Multifamily Housing Revenue Bonds, GNMA Collateralized – Lifelink Developments, Series 2006, 4.850%, 4/20/41 (UB) (5)		12/17 at 100.00		AA+		4,003,040
	7,335	Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 6/15/31 – AGM Insured		6/24 at 100.00		AA		8,175,371
	8,000	Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/30		1/26 at 100.00		BBB		8,656,640
	5,000	Illinois State, General Obligation Bonds, May Series 2014, 5.000%, 5/01/27		5/24 at 100.00		BBB		5,455,300
	5,325	Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/24		No Opt. Call		BBB		5,856,808
		Illinois State, General Obligation Bonds, Series 2012A:
	5,520	5.000%, 3/01/25		3/22 at 100.00		BBB		5,969,162
	5,910	5.000%, 3/01/26		3/22 at 100.00		BBB		6,365,484
	500	5.000%, 3/01/27		3/22 at 100.00		BBB		536,400
	1,440	Illinois State, General Obligation Bonds, Series 2013, 5.250%, 7/01/28		7/23 at 100.00		BBB		1,574,179
	5,000	Illinois State, Sales Tax Revenue Bonds, Build Illinois Series 2011, 5.000%, 6/15/28		6/21 at 100.00		AA+		5,484,000
	960	Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-1, 7.125%, 1/01/36 (9)		12/17 at 100.00		N/R		407,616
	3,000	Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-2, 5.500%, 1/01/30 – ACA Insured (8)		12/17 at 100.00		N/R		2,796,300
	1,630	Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel Revenue Bonds, Series 2005B, 5.250%, 1/01/36 (10)		12/17 at 100.00		D		472,048
	875	Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012A, 5.000%, 6/15/42 – NPFG Insured		6/22 at 100.00		BBB–		894,075
	1,280	Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/23		6/22 at 100.00		BB+		1,382,861
	5,400	Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52		12/25 at 100.00		BB+		5,490,504
	1,225	Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A, 5.000%, 6/15/53		12/25 at 100.00		BB+		1,244,698

48 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	8,025	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1996A, 0.000%, 12/15/21 – NPFG Insured		No Opt. Call		A	$	7,226,673
	10,000	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/35 – AGM Insured		No Opt. Call		AA		4,861,400
	1,841	Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014, 5.000%, 3/01/34 – AGM Insured		3/24 at 100.00		AA		2,010,722
	845	Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012, 4.750%, 10/01/29		10/22 at 100.00		Baa1		899,300
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:
	3,890	5.250%, 6/01/21		No Opt. Call		A		4,407,720
	3,000	6.250%, 6/01/24		12/17 at 100.00		A		3,061,170
	4,450	Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2001A, 6.000%, 7/01/27 – FGIC Insured		No Opt. Call		AA		5,607,489
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	3,485	5.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		3,881,802
	15,530	4.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		15,961,734
	1,000	Springfield, Sangamon County, Illinois, Special Service Area, Legacy Pointe Ad Valorem Tax Bonds, Series 2010, 7.500%, 3/01/32		3/19 at 100.00		N/R		1,017,280
	5,000	University of Illinois, Auxiliary Facilities System Revenue Bonds, Series 2013A, 4.000%, 4/01/32		4/23 at 100.00		A1		5,212,000
	7,405	University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42		10/23 at 100.00		A–		8,464,507
	392,786	Total Illinois						423,432,459
		Indiana – 2.3%
	425	Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/32 (Pre-refunded 10/30/17)		10/17 at 100.00		BB (4)		426,526
	695	Chesterton, Indiana, Economic Development Revenue Bonds, Storypoint Chesterton Project, Series 2016, 6.250%, 1/15/43		1/24 at 104.00		N/R		702,777
		Indiana Bond Bank, Special Program Gas Revenue Bonds, JP Morgan Ventures Energy Corporation Guaranteed, Series 2007A:
	3,325	5.250%, 10/15/18		No Opt. Call		A+		3,467,177
	5,215	5.250%, 10/15/20		No Opt. Call		A+		5,789,902
	1,400	Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 6.625%, 10/01/29		10/19 at 100.00		B–		1,398,278
		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Indiana Inc. Project, Series 2016:
	2,475	7.000%, 12/01/34		12/24 at 100.00		N/R		2,592,315
	4,920	7.250%, 12/01/44		12/24 at 100.00		N/R		5,148,288
		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Northwest Indiana Inc. Project, Series 2016:
	3,710	7.000%, 12/01/34		12/24 at 100.00		N/R		3,885,854
	6,075	7.250%, 12/01/44		12/24 at 100.00		N/R		6,356,880
	1,000	Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.125%, 3/01/30 (Pre-refunded 3/02/20)		3/20 at 100.00		N/R (4)		1,094,620
	3,000	Indiana Finance Authority, Hospital Revenue Bonds, Marion General Hospital Project, Series 2012A, 5.000%, 7/01/36		7/21 at 100.00		A+		3,296,550

NUVEEN 49

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	9,000	Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2012A, 5.000%, 6/01/32 – AGM Insured		6/22 at 100.00		BBB–	$	9,162,900
	9,215	Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A, 5.000%, 7/01/48 (Alternative Minimum Tax)		7/23 at 100.00		A–		9,930,913
	685	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, 5.500%, 1/01/38 (Pre-refunded 1/01/19) – AGC Insured		1/19 at 100.00		AA (4)		724,244
	2,815	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, 5.500%, 1/01/38 – AGC Insured		1/19 at 100.00		AA		2,956,257
		Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A:
	1,530	5.000%, 4/01/26		4/22 at 100.00		Baa3		1,646,540
	1,400	5.000%, 4/01/27		4/22 at 100.00		Baa3		1,500,408
	1,560	5.000%, 4/01/29		4/22 at 100.00		Baa3		1,659,107
		Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2013:
	420	5.875%, 1/01/24 (Alternative Minimum Tax)		No Opt. Call		N/R		470,446
	9,185	7.000%, 1/01/44 (Alternative Minimum Tax)		1/24 at 100.00		N/R		11,002,069
	5,000	Vigo County Hospital Authority, Indiana, Hospital Revenue Bonds, Union Hospital, Inc., Series 2011, 8.000%, 9/01/41 (Pre-refunded 9/01/21)		9/21 at 100.00		N/R (4)		6,269,550
	73,050	Total Indiana						79,481,601
		Iowa – 0.6%
	2,275	Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.250%, 6/15/36 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,523,339
	500	Iowa Finance Authority, Health Facilities Revenue Bonds, Iowa Health System, Series 2008A, 5.250%, 8/15/29 (Pre-refunded 8/15/19) – AGC Insured		8/19 at 100.00		AA– (4)		539,305
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013:
	1,180	5.000%, 12/01/19		No Opt. Call		B		1,221,017
	2,750	5.500%, 12/01/22		12/18 at 100.00		B		2,811,105
	5,375	5.250%, 12/01/25		12/23 at 100.00		B		5,702,123
	1,015	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27		6/19 at 105.00		B		1,082,315
	1,000	Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-2, 5.500%, 12/01/25		12/19 at 100.00		Aaa		1,059,240
	2,530	Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Senior Lien Series 2011A-2, 5.750%, 12/01/28 (Alternative Minimum Tax)		12/19 at 102.00		A		2,702,217
	2,045	Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.625%, 6/01/46		12/17 at 100.00		B+		2,045,020
	18,670	Total Iowa						19,685,681
		Kansas – 0.3%
		Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc., Series 2016:
	1,500	5.000%, 12/01/36		12/26 at 100.00		Baa2		1,628,535
	1,320	5.000%, 12/01/41		12/26 at 100.00		Baa2		1,421,495
	500	Kansas Department of Transportation, Highway Revenue Bonds, Series 2004B, 5.000%, 9/01/22 (Pre-refunded 9/01/18)		9/18 at 100.00		AAA		518,640

50 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kansas (continued)
$	4,540	Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C, 5.500%, 11/15/29		11/19 at 100.00		AA	$	4,938,203
	1,875	Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured		1/22 at 100.00		BB+		1,876,050
	965	Overland Park Transportation Development District, Kansas, Sales Tax Revenue Bonds, Oak Park Mall Project, Series 2010, 5.900%, 4/01/32		12/17 at 100.00		BBB		995,639
	10,700	Total Kansas						11,378,562
		Kentucky – 0.9%
	1,500	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2009A, 5.375%, 8/15/24		8/18 at 100.00		A		1,554,615
		Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A:
	2,500	5.750%, 6/01/25 (Pre-refunded 6/01/20)		6/20 at 100.00		BBB (4)		2,801,975
	2,480	6.000%, 6/01/30 (Pre-refunded 6/01/20)		6/20 at 100.00		BBB (4)		2,795,828
	5,655	Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A, 5.000%, 7/01/37		7/25 at 100.00		BBB+		6,172,602
		Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare Inc., Series 2016A:
	5,735	5.000%, 10/01/31		10/26 at 100.00		A–		6,688,444
	2,785	4.000%, 10/01/35		10/26 at 100.00		A–		2,867,882
	1,405	Louisville-Jefferson County Metropolitan Government, Kentucky, Health Facilities Revenue Bonds, Jewish Hospital & Saint Mary’s HealthCare Inc. Project, Series 2008, 6.125%, 2/01/37 (Pre-refunded 2/01/18)		2/18 at 100.00		Aaa		1,430,135
	1,600	Paducah, Kentucky, Electric Plant Board Revenue Bonds, Series 2009A, 5.250%, 10/01/35 (Pre-refunded 4/01/19) – AGC Insured		4/19 at 100.00		AA (4)		1,700,608
	5,000	Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011, 6.500%, 3/01/41		3/21 at 100.00		A3		5,596,100
	28,660	Total Kentucky						31,608,189
		Louisiana – 1.7%
	1,250	Lake Charles Harbor and Terminal District, Louisiana, Revenue Bonds, Series 2013B, 5.500%, 1/01/24 – AGM Insured (Alternative Minimum Tax)		No Opt. Call		AA		1,472,200
	3,055	Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32 (Pre-refunded 11/01/17)		11/17 at 100.00		BBB (4)		3,070,886
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007A:
	5,000	6.750%, 12/15/37 (8)		12/17 at 100.00		N/R		3,249,500
	800	6.000%, 12/15/37 (8)		12/17 at 100.00		N/R		519,920
	65	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007B, 9.000%, 12/15/17 (8)		No Opt. Call		N/R		42,244
	27,385	Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36 (Alternative Minimum Tax)		7/23 at 100.00		N/R		30,224,551
	1,000	Louisiana Public Facilities Authority, Revenue Bonds, Belle Chasse Educational Foundation Project, Series 2011, 6.750%, 5/01/41		5/21 at 100.00		BBB		1,104,770

NUVEEN 51

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
$	2,000	Louisiana Public Facilities Authority, Revenue Bonds, Christus Health, Refunding Series 2009A, 6.000%, 7/01/29		7/19 at 100.00		A+	$	2,161,140
	240	Louisiana Public Facilities Authority, Revenue Bonds, Christus Health, Series 2008B, 5.750%, 7/01/18 – AGC Insured		No Opt. Call		AA		246,818
	2,030	Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015, 5.000%, 5/15/47		5/25 at 100.00		A3		2,262,415
	1,050	New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/44		6/24 at 100.00		A		1,158,056
	13,120	St John Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation, Series 2007A, 5.125%, 6/01/37		12/17 at 100.00		BBB		13,152,538
	56,995	Total Louisiana						58,665,038
		Maine – 0.5%
		Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011:
	2,000	6.750%, 7/01/36		7/21 at 100.00		BB		2,191,320
	10,390	6.750%, 7/01/41		7/21 at 100.00		BB		11,327,178
	1,665	Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2010A, 5.000%, 7/01/40		7/20 at 100.00		AA		1,802,895
		Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013:
	460	5.000%, 7/01/26		7/23 at 100.00		BBB+		525,789
	1,000	5.000%, 7/01/27		7/23 at 100.00		BBB+		1,139,550
	15,515	Total Maine						16,986,732
		Maryland – 0.8%
	9,445	Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Second Issue Series 2015, 5.000%, 6/01/22		No Opt. Call		AAA		11,015,609
	14,350	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health Issue, Series 2015, 5.000%, 8/15/42 (UB) (5)		2/25 at 100.00		A		16,004,986
	1,000	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park Public Charter School Issue, Series 2010, 5.750%, 7/01/30		7/19 at 100.00		BB+		1,028,970
	24,795	Total Maryland						28,049,565
		Massachusetts – 1.1%
	4,350	Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.750%, 10/15/37		10/17 at 100.00		N/R		4,357,352
	8,350	Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012C, 5.250%, 11/01/42 (Alternative Minimum Tax)		11/17 at 100.00		BB+		8,356,513
		Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E:
	1,200	5.000%, 7/01/35		7/26 at 100.00		BBB		1,340,424
	5,065	5.000%, 7/01/37		7/26 at 100.00		BBB		5,621,340
	1,035	Massachusetts Development Finance Agency, Revenue Bonds, Loomis Communities, Series 2013A, 4.875%, 1/01/24		1/23 at 100.00		BBB–		1,152,079
	50	Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 5.500%, 1/01/23 (Alternative Minimum Tax)		1/20 at 100.00		AA		52,963

52 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Massachusetts (continued)
$	6,665	Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Tender Option Trust 2015-XF0047, 16.988%, 7/01/34 (IF)		7/19 at 100.00		AA–	$	7,892,493
	1,525	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A, 5.750%, 7/01/39		7/19 at 100.00		BBB		1,627,083
	3,025	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A, 5.750%, 7/01/39 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		3,273,262
		Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A:
	1,260	5.500%, 1/01/22 – AMBAC Insured (Alternative Minimum Tax)		12/17 at 100.00		N/R		1,265,733
	700	5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)		1/18 at 100.00		N/R		706,454
	2,335	Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Tender Option Bond Trust 2015-XF2181. Formerly Tender Option Bond Trust 2989, 11.664%, 8/01/38 (IF) (5)		8/19 at 100.00		AAA		2,815,216
	35,560	Total Massachusetts						38,460,912
		Michigan – 1.5%
	9,430	Bay City, Bay County, Michigan, Unlimited Tax General Street Improvement Bonds, Series 1991, 0.000%, 6/01/21 – AMBAC Insured		No Opt. Call		A+		8,004,938
	800	Jackson County Hospital Finance Authority, Michigan, Hospital Revenue Bonds, W.A. Foote Memorial Hospital, Refunding Series 2006B-2, 5.000%, 6/01/27 (Pre-refunded 6/01/20) – AGM Insured		6/20 at 100.00		AA (4)		881,552
	7,665	Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Methodist Hospital, Refunding Series 2003A, 5.000%, 5/15/26 – AGM Insured		5/18 at 100.00		AA		7,835,776
	10,115	Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2016MI, 5.000%, 12/01/45		6/26 at 100.00		AA–		11,426,612
	510	Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Creative Montessori Academy Project, Series 2011, 6.125%, 5/01/21		5/18 at 100.00		BBB–		514,651
		Michigan Finance Authority, Public School Academy Revenue Bonds, Detroit Service Learning Academy Project, Refunding Series 2011:
	385	6.000%, 10/01/21		No Opt. Call		BB–		383,244
	500	7.000%, 10/01/31		10/21 at 100.00		BB–		499,995
	1,000	7.000%, 10/01/36		10/21 at 100.00		BB–		983,520
	1,550	Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2010A, 5.000%, 10/01/35		10/20 at 100.00		AA		1,643,496
	1,250	Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Chandler Park Academy Project, Series 2008, 6.500%, 11/01/35		12/17 at 100.00		BBB		1,252,150
	1,245	Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, David Ellis Academy-West Charter School Project, Series 2007, 5.875%, 6/01/37		12/17 at 100.00		N/R		1,245,261
		Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-I-A:
	750	5.375%, 10/15/41		10/21 at 100.00		Aa2		848,842
	2,000	5.500%, 10/15/45		10/21 at 100.00		Aa2		2,259,940
		Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009:
	500	5.625%, 11/15/29 (Pre-refunded 11/15/19)		11/19 at 100.00		A (4)		547,810
	1,480	5.750%, 11/15/39 (Pre-refunded 11/15/19)		11/19 at 100.00		A (4)		1,625,395

NUVEEN 53

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
$	5,000	Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital Obligated Group, Refunding Series 2014D, 5.000%, 9/01/39		3/24 at 100.00		A1	$	5,524,750
	6,010	Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.000%, 9/01/29 (Pre-refunded 9/01/18)		9/18 at 100.00		Aaa		6,398,246
	50,190	Total Michigan						51,876,178
		Minnesota – 1.6%
	310	Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A, 4.000%, 8/01/41		8/26 at 100.00		BB+		279,481
		City of Ham Lake, Minnesota, Charter School Lease Revenue Bonds, DaVinci Academy Project, Series 2016A:
	150	5.000%, 7/01/36		7/24 at 102.00		N/R		152,328
	270	5.000%, 7/01/47		7/24 at 102.00		N/R		271,501
	4,050	City of Milaca, Minnesota Refunding Revenue Bonds, Grandview Christian Home Project, Series 2016, 5.000%, 10/01/51		10/24 at 102.00		N/R		4,054,050
		Columbus, Minnesota, Senior Housing Revenue Bonds, Richfield Senior Housing, Inc., Refunding Series 2015:
	250	5.250%, 1/01/40		1/23 at 100.00		N/R		252,033
	675	5.250%, 1/01/46		1/23 at 100.00		N/R		673,954
		Dakota County Community Development Agency, Minnesota, Senior Housing Revenue Bonds, Walker Highview Hills LLC Project, Refunding Series 2016A:
	1,555	5.000%, 8/01/46		8/22 at 100.00		N/R		1,573,536
	1,250	5.000%, 8/01/51		8/22 at 100.00		N/R		1,260,588
	1,000	Duluth Housing & Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A, 5.875%, 11/01/40		11/18 at 102.00		BB+		1,032,210
	1,000	Faribault, Minnesota, Housing Revenue Bonds, Faribault Senior Living LLC Project, Series 2010, 7.000%, 5/01/45		5/18 at 102.00		N/R		1,029,060
	2,575	Ham Lake, Minnesota Charter School Lease Revenue Bonds, Parnassus Preparatory School Project, Series 2016A, 5.000%, 11/01/47		11/26 at 100.00		BB		2,610,406
		Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A:
	3,000	6.375%, 11/15/23 (Pre-refunded 11/15/18)		11/18 at 100.00		A+ (4)		3,182,010
	3,000	6.625%, 11/15/28 (Pre-refunded 11/15/18)		11/18 at 100.00		A+ (4)		3,190,230
	3,000	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		2,871,810
	4,700	Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Refunding Series 2016B, 5.000%, 11/15/29		No Opt. Call		AA		5,921,248
	500	Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Nova Classical Academy, Series 2016A, 4.125%, 9/01/47		9/24 at 102.00		BBB–		496,160
	16,825	Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-7, 4.500%, 10/01/37 (Alternative Minimum Tax)		10/22 at 100.00		BBB–		15,312,601
		St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A:
	2,500	5.000%, 11/15/27 (Pre-refunded 11/15/25)		11/25 at 100.00		A+ (4)		3,085,325
	2,080	5.250%, 11/15/28 (Pre-refunded 11/15/20)		11/20 at 100.00		A+ (4)		2,342,766
	535	5.250%, 11/15/35 (Pre-refunded 11/15/20)		11/20 at 100.00		A+ (4)		602,587
	235	5.000%, 11/15/44 (Pre-refunded 11/15/25)		11/25 at 100.00		A+ (4)		290,021

54 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
$	2,240	Wayzata, Minnesota, Senior Housing Revenue Bonds, Folkestone Senior Living Community, Series 2012A, 6.000%, 5/01/47		5/19 at 102.00		N/R	$	2,377,491
	3,750	Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 2014A, 5.000%, 1/01/46		1/24 at 100.00		Aa3		4,254,787
	55,450	Total Minnesota						57,116,183
		Mississippi – 0.2%
	5,000	Mississippi Development Bank, Special Obligation Bonds, Gulfport Water and Sewer System Project, Series 2005, 5.250%, 7/01/24 – AGM Insured		No Opt. Call		AA		5,797,700
		Missouri – 1.8%
	3,185	Bi-State Development Agency, Bi-State MetroLink District, Missouri, St Clair County Metrolink Extension Project Bonds, Refunding Series 2006, 5.250%, 7/01/27 – AGM Insured		No Opt. Call		AA		4,003,418
	2,470	Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36		10/19 at 100.00		A–		2,638,577
	8,935	Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2015A, 4.000%, 1/01/45		1/25 at 100.00		AA		9,247,725
	1,250	Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 6.000%, 2/01/41		2/21 at 100.00		BBB		1,366,987
	4,455	Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Tender Option Bond Trust 2015-XF0046, 15.128%, 11/15/39 (Pre-Refunded 11/15/19) (IF)		11/19 at 100.00		AA+ (4)		5,572,849
	2,250	Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2014A, 5.000%, 1/01/28		1/25 at 100.00		A		2,606,490
	15,100	Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2015A, 4.000%, 1/01/35		1/26 at 100.00		A		15,857,869
		Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A:
	5,000	0.000%, 7/15/31 – AGC Insured		No Opt. Call		AA		3,052,300
	7,000	0.000%, 7/15/32 – AGC Insured		No Opt. Call		AA		4,081,350
	6,250	0.000%, 7/15/33 – AGC Insured		No Opt. Call		AA		3,470,250
	7,000	0.000%, 7/15/34 – AGC Insured		No Opt. Call		AA		3,707,690
	6,000	0.000%, 7/15/35 – AGC Insured		No Opt. Call		AA		3,038,700
	2,000	0.000%, 7/15/36 – AGC Insured		No Opt. Call		AA		965,960
	1,325	Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment Project, Series 2008A, 6.300%, 8/22/26		3/18 at 100.00		N/R		1,286,178
	1,437	Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A, 6.500%, 1/23/28		No Opt. Call		N/R		934,524
	73,657	Total Missouri						61,830,867
		Nebraska – 1.2%
	4,000	Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/42		9/22 at 100.00		A		4,350,480
	1,740	Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45		11/25 at 100.00		A–		1,927,607
	2,750	Nebraska Public Power District, General Revenue Bonds, Series 2008B, 5.000%, 1/01/20 (Pre-refunded 1/01/18)		1/18 at 100.00		A+ (4)		2,778,875

NUVEEN 55

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nebraska (continued)
		Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2, Series 2016A:
$	18,465	5.000%, 2/01/46 (UB) (5)		2/26 at 100.00		A+	$	20,880,037
	10,000	5.000%, 2/01/49 (UB) (5)		2/26 at 100.00		A+		11,290,500
	36,955	Total Nebraska						41,227,499
		Nevada – 1.2%
	2,000	Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.000%, 7/01/30		1/20 at 100.00		Aa3		2,164,380
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016:
	1,125	4.000%, 9/01/25		No Opt. Call		N/R		1,180,283
	1,800	4.000%, 9/01/35		9/26 at 100.00		N/R		1,735,362
		Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A:
	2,000	7.500%, 6/15/23 (Pre-refunded 6/15/19)		6/19 at 100.00		BBB+ (4)		2,216,820
	1,500	8.000%, 6/15/30 (Pre-refunded 6/15/19)		6/19 at 100.00		BBB+ (4)		1,675,020
	2,500	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/38		6/21 at 100.00		Aa1		2,779,075
	20,000	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2016A, 5.000%, 6/01/46 (UB)		6/26 at 100.00		AA		23,215,800
		Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, Refunding Series 2013:
	125	4.000%, 6/01/19		No Opt. Call		N/R		127,254
	110	4.000%, 6/01/20		No Opt. Call		N/R		113,155
	815	4.000%, 6/01/21		No Opt. Call		N/R		846,166
	370	5.000%, 6/01/23		No Opt. Call		N/R		400,170
	200	4.250%, 6/01/24		6/23 at 103.00		N/R		206,634
	1,765	Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 812 Summerlin Village 24, Series 2015, 5.000%, 12/01/31		12/25 at 100.00		N/R		1,827,128
		Sparks Local Improvement District 3, Legends at Sparks Marina, Nevada, Limited Obligation Improvement Bonds, Series 2008:
	335	6.500%, 9/01/20 (Pre-refunded 9/01/18)		9/18 at 100.00		N/R (4)		350,795
	1,325	6.750%, 9/01/27 (Pre-refunded 9/01/18)		9/18 at 100.00		N/R (4)		1,394,960
	410	Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011, 5.000%, 7/01/32		7/21 at 100.00		AA		459,015
	36,380	Total Nevada						40,692,017
		New Hampshire – 0.1%
	3,305	New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Tender Option Bond Trust 2016-XL0025, 11.803%, 6/01/39 (Pre-Refunded 6/01/19) (IF) (5)		6/19 at 100.00		AA+ (4)		4,005,891
		New Jersey – 2.1%
	4,510	Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42		2/23 at 100.00		BBB+		5,052,598
	1,335	Manalapan-Englishtown Regional Board of Education, New Jersey, General Obligation Bonds, Series 2004, 5.750%, 12/01/21 – FGIC Insured		No Opt. Call		A3		1,556,036
	2,345	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 3.375%, 7/01/30		7/27 at 100.00		BBB+		2,286,633

56 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
$	9,090	New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2016AAA, 5.500%, 6/15/29		12/26 at 100.00		A–	$	10,689,113
		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999:
	1,000	5.125%, 9/15/23 (Alternative Minimum Tax)		3/18 at 100.00		BB–		1,100,790
	1,650	5.250%, 9/15/29 (Alternative Minimum Tax)		8/22 at 101.00		BB–		1,813,746
	2,255	New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000A & 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax)		3/24 at 101.00		BB–		2,577,690
	835	New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A, 5.750%, 6/01/31		6/20 at 100.00		Baa3		910,810
	2,015	New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 6.250%, 12/01/18 (ETM)		No Opt. Call		N/R (4)		2,140,837
	600	New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 7.500%, 12/01/32 (Pre-refunded 6/01/19)		6/19 at 100.00		N/R (4)		664,518
	1,000	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare System, Series 2016A, 5.000%, 7/01/31		7/26 at 100.00		Baa2		1,158,800
	1,460	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A, 5.000%, 7/01/46 – AGM Insured		7/25 at 100.00		AA		1,628,542
	1,335	New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2016-XG0001, 12.530%, 6/01/30 (IF) (5)		6/19 at 100.00		AA		1,672,969
	3,175	New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.250%, 1/01/26 – AGM Insured		No Opt. Call		AA		3,918,490
	1,000	Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 5.750%, 12/01/30 (Pre-refunded 12/01/19) – AGC Insured		12/19 at 100.00		A3 (4)		1,101,910
	1,760	North Hudson Sewerage Authority, New Jersey, Gross Revenue Lease Certificates, Senior Lien Series 2012A, 5.000%, 6/01/23 (Pre-refunded 6/01/22)		6/22 at 100.00		N/R (4)		2,046,810
	2,000	Passaic Valley Water Commission, New Jersey, Water System Revenue Bonds, Series 2003, 5.000%, 12/15/19 – AGM Insured		No Opt. Call		AA		2,159,560
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:
	5,805	4.625%, 6/01/26		12/17 at 100.00		BBB		5,810,515
	1,970	5.000%, 6/01/29		12/17 at 100.00		BBB–		1,970,099
	6,520	4.750%, 6/01/34		12/17 at 100.00		BB–		6,373,430
	16,880	5.000%, 6/01/41		12/17 at 100.00		B		16,505,264
	68,540	Total New Jersey						73,139,160
		New Mexico – 0.2%
	3,000	New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, La Vida LLena Project, Series 2010A, 5.875%, 7/01/30		7/20 at 100.00		BBB		3,124,890
	3,070	New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19)		8/19 at 100.00		A1		3,265,252
	190	The Trails Public Improvement District, Albuquerque, New Mexico, Special Levy Revenue Bonds, Series 2008, 7.500%, 10/01/18		No Opt. Call		N/R		189,521
	6,260	Total New Mexico						6,579,663

NUVEEN 57

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York – 13.0%
$	11,125	Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Refunding Series 2016A, 5.000%, 7/15/42		1/27 at 100.00		BBB–	$	12,448,096
		Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:
	1,100	6.000%, 7/15/30 (Pre-refunded 1/15/20)		1/20 at 100.00		AA+ (4)		1,225,455
	7,745	6.375%, 7/15/43 (Pre-refunded 1/15/20)		1/20 at 100.00		AA+ (4)		8,694,072
	520	Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015, 4.000%, 7/01/45		7/25 at 100.00		BBB+		520,317
		Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Charter School for Applied Technologies, Series 2017A:
	500	4.500%, 6/01/27		6/24 at 103.00		BBB–		542,415
	250	5.000%, 6/01/35		6/24 at 103.00		BBB–		270,710
	1,440	Buffalo and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds, Series 2017, 5.000%, 1/01/47		1/27 at 100.00		A+		1,663,632
	2,500	Build New York City Resource Corporation, New York, Revenue Bonds, Manhattan College, Series 2017, 5.000%, 8/01/47		8/27 at 100.00		A–		2,872,600
	7,500	Dormitory Authority of the State of New York State Personal Income tax Revenue Bonds (General Purpose), Series 2017A, 5.000%, 2/15/38		2/27 at 100.00		AAA		8,778,150
		Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2017A:
	2,000	5.000%, 7/01/30		7/27 at 100.00		Aa3		2,427,540
	2,170	5.000%, 7/01/31		7/27 at 100.00		Aa3		2,622,358
	2,500	5.000%, 7/01/32		7/27 at 100.00		Aa3		3,002,025
	8,145	Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/45		7/25 at 100.00		A–		9,003,076
	4,955	Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.500%, 7/01/43 (Pre-refunded 7/01/20) – AGM Insured		7/20 at 100.00		AA (4)		5,545,041
	2,000	Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2017A, 5.000%, 7/01/29		7/27 at 100.00		Aa2		2,469,440
		Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017:
	100	5.000%, 12/01/34		6/27 at 100.00		Baa3		109,887
	300	5.000%, 12/01/36		6/27 at 100.00		Baa3		327,627
		Dormitory Authority of the State of New York, Revenue Bonds, Teachers College, Series 2017:
	500	5.000%, 7/01/29		7/27 at 100.00		A+		605,680
	175	5.000%, 7/01/32		7/27 at 100.00		A+		208,483
	5	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2009A, 5.000%, 2/15/39 (Pre-refunded 2/15/19)		2/19 at 100.00		N/R (4)		5,274
	10	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2009A, 5.000%, 2/15/39 (Pre-refunded 2/15/19)		2/19 at 100.00		AAA		10,547
		Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 2016-XF0525:
	1,995	11.803%, 2/15/39 (IF)		2/19 at 100.00		AAA		2,322,020
	2,333	11.794%, 2/15/39 (IF)		2/19 at 100.00		AAA		2,714,354
	10,000	Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2017A Group A, 5.000%, 3/15/28		3/27 at 100.00		AAA		12,453,000

58 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	1,365	Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2017A, 6.240%, 2/01/47		2/27 at 100.00		N/R	$	1,367,730
	6,975	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A, 5.000%, 2/15/32		2/27 at 100.00		Aa3		8,347,122
	160	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47		2/21 at 100.00		AA–		183,267
	240	Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47 (Pre-refunded 2/15/21)		2/21 at 100.00		Aa3 (4)		276,427
	3,000	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 6.000%, 5/01/33 (Pre-refunded 5/01/19)		5/19 at 100.00		A– (4)		3,238,320
		Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A:
	1,000	5.000%, 5/01/36 – AGM Insured		5/21 at 100.00		AA		1,110,240
	1,980	5.000%, 5/01/38		5/21 at 100.00		A–		2,196,810
	1,000	Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Climate Bond Certified, Green Series 2017B-1, 5.000%, 11/15/29		11/27 at 100.00		AA		1,243,450
	3,425	Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Climate Bond Certified, Refunding Green Series 2017B-2, 5.000%, 11/15/28		11/27 at 100.00		AA		4,294,436
	7,100	Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2017, 5.000%, 12/01/46		12/26 at 100.00		A–		7,911,388
		Monroe County Industrial Development Corporation, New York, Revenue Bonds, University of Rochester Project, Series 2017A:
	1,400	5.000%, 7/01/34		7/27 at 100.00		AA–		1,670,508
	1,000	5.000%, 7/01/36		7/27 at 100.00		AA–		1,180,080
	1,000	5.000%, 7/01/37		7/27 at 100.00		AA–		1,175,420
		Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014:
	235	5.000%, 7/01/23		No Opt. Call		A–		273,841
	300	5.000%, 7/01/24		No Opt. Call		A–		354,939
	210	5.000%, 7/01/26		7/24 at 100.00		A–		243,363
		New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007:
	3,000	5.750%, 10/01/37 (8)		10/17 at 102.00		N/R		952,200
	1,000	5.875%, 10/01/46 (8)		10/17 at 102.00		N/R		317,400
	715	New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured		3/19 at 100.00		AA		774,452
		New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2017 Series DD:
	5,000	5.250%, 6/15/47		12/26 at 100.00		AA+		6,001,800
	1,000	5.000%, 6/15/47		12/26 at 100.00		AA+		1,167,760
		New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2017 Series EE:
	5,000	5.000%, 6/15/36		6/27 at 100.00		AA+		5,962,250
	5,000	5.000%, 6/15/37		6/27 at 100.00		AA+		5,938,800
	1,000	New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Tender Option Bond Trust 2015-XF0097, 12.530%, 6/15/39 (IF)		6/19 at 100.00		AA+		1,255,960

NUVEEN 59

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018, Series 2017S-1:
$	17,150	5.000%, 7/15/31		7/27 at 100.00		AA	$	20,754,244
	5,000	5.000%, 7/15/35		7/27 at 100.00		AA		5,931,700
	10,500	New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series C, 5.000%, 11/01/30		5/27 at 100.00		AAA		12,793,830
	10,750	New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series E-1, 5.000%, 2/01/43		2/27 at 100.00		AAA		12,489,457
	6,885	New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series F-1, 5.000%, 5/01/39		5/27 at 100.00		AAA		8,075,003
	11,845	New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2018 Series A-2., 5.000%, 8/01/39		8/27 at 100.00		AAA		13,938,248
		New York City, New York, General Obligation Bonds, Fiscal 2017 Series C:
	10,000	5.000%, 8/01/27		2/27 at 100.00		AA		12,410,700
	5,000	5.000%, 8/01/28		2/27 at 100.00		AA		6,147,050
		New York City, New York, General Obligation Bonds, Fiscal 2018 Series A:
	7,970	5.000%, 8/01/27		No Opt. Call		AA		9,983,860
	4,000	5.000%, 8/01/28		8/27 at 100.00		AA		4,961,560
		New York City, New York, General Obligation Bonds, Fiscal 2018 Series B-1:
	11,000	5.250%, 10/01/31 (WI/DD, Settling 10/03/17)		10/27 at 100.00		AA		13,748,900
	10,315	5.000%, 10/01/39 (WI/DD, Settling 10/03/17)		10/27 at 100.00		AA		12,172,938
	5	New York City, New York, General Obligation Bonds, Series 1991B, 7.000%, 2/01/18 – AMBAC Insured		12/17 at 100.00		AA		5,025
	7,000	New York Convention Center Development Corporation, New York, Revenue Bonds, Hotel Unit Fee Secured, Refunding Series 2015, 5.000%, 11/15/40		11/25 at 100.00		Aa3		8,051,890
	13,730	New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44		11/24 at 100.00		N/R		14,988,904
		New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Subordinated SRF Series 2017A:
	10,000	5.000%, 6/15/42		6/27 at 100.00		AAA		11,868,200
	15,000	5.000%, 6/15/46		6/27 at 100.00		AAA		17,704,500
	1,120	New York State Urban Development Corporation, Special Project Revenue Bonds, University Facilities Grants, Series 1995, 5.500%, 1/01/19		No Opt. Call		AA		1,159,178
	2,495	New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016, 5.000%, 8/01/20 (Alternative Minimum Tax)		No Opt. Call		BB–		2,679,306
	2,660	New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016, 5.000%, 8/01/31 (Alternative Minimum Tax)		8/21 at 100.00		BB–		2,845,269
		New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A:
	8,120	4.000%, 7/01/37 – AGM Insured (Alternative Minimum Tax)		7/24 at 100.00		AA		8,426,449
	14,340	5.000%, 7/01/46 (Alternative Minimum Tax)		7/24 at 100.00		BBB		15,784,612
	3,500	Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 (Alternative Minimum Tax)		11/17 at 100.00		BB+		3,503,815

60 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Second Series 2017:
$	6,500	5.000%, 10/15/33 (Alternative Minimum Tax)		4/27 at 100.00		AA–	$	7,636,785
	11,000	5.000%, 10/15/36 (Alternative Minimum Tax)		4/27 at 100.00		AA–		12,784,310
	12,235	5.000%, 4/15/37 (Alternative Minimum Tax)		4/27 at 100.00		AA–		14,164,704
	4,000	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundredth Series 2017, 5.000%, 11/15/35		11/27 at 100.00		AA–		4,822,160
	795	Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42		12/20 at 100.00		Baa1		887,824
	1,170	Suffolk County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At Southold, Inc. Project, Refunding Series 2010, 5.875%, 12/01/30		12/20 at 100.00		BBB–		1,287,936
		Suffolk County, New York, General Obligation Bonds, Refunding Series 2017A:
	5,000	5.000%, 2/01/25 – AGM Insured		No Opt. Call		AA		6,040,700
	5,000	5.000%, 2/01/26 – AGM Insured		No Opt. Call		AA		6,104,000
	3,675	5.000%, 2/01/27 – AGM Insured		No Opt. Call		AA		4,529,327
	1,360	Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2017A2, 5.000%, 11/15/42		5/27 at 100.00		AA–		1,598,381
	1,400	Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010B, 5.000%, 9/01/20		No Opt. Call		A3		1,540,826
	4,405	TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48		6/27 at 100.00		N/R		4,530,631
	8,000	TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A, 5.000%, 6/01/41		6/27 at 100.00		BBB+		8,875,120
	14,885	Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015, 5.000%, 12/15/37		12/25 at 100.00		AAA		17,826,723
	5,200	Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Refunding Series 2016, 5.000%, 11/01/46		11/25 at 100.00		BBB		5,657,288
	394,983	Total New York						456,991,115
		North Carolina – 0.4%
	1,780	Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust 2016-XL0012, 15.358%, 7/01/38 (IF) (5)		7/20 at 100.00		AAA		2,306,720
	1,000	North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B, 6.000%, 1/01/22 – FGIC Insured (ETM)		No Opt. Call		A3 (4)		1,192,570
	1,000	North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2008C, 6.750%, 1/01/24 (Pre-refunded 1/01/19)		1/19 at 100.00		AAA		1,071,940
		North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Southminster Project, Refunding Series 2016:
	335	5.000%, 10/01/31		10/24 at 102.00		N/R		353,586
	890	5.000%, 10/01/37		10/24 at 102.00		N/R		926,659
		North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A:
	1,930	5.000%, 7/01/47		7/26 at 100.00		BBB–		2,119,101
	1,005	5.000%, 7/01/51		7/26 at 100.00		BBB–		1,105,048
	4,310	5.000%, 7/01/54		7/26 at 100.00		BBB–		4,701,693
	2,000	North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 (Pre-refunded 1/01/19) – AGC Insured		1/19 at 100.00		AA (4)		2,118,200
	14,250	Total North Carolina						15,895,517

NUVEEN 61

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Dakota – 0.3%
$	2,585	Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Refunding Series 2012A, 5.000%, 7/01/38 (Pre-refunded 7/01/22)		7/22 at 100.00		N/R (4)	$	3,009,741
	2,060	Burleigh County, North Dakota, Multi-County Sales Tax Revenue Bonds, Series 2015A, 3.750%, 11/01/34 – AGM Insured		11/22 at 100.00		AA		2,103,054
		Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012:
	2,100	4.000%, 12/01/27		12/21 at 100.00		A–		2,197,524
	3,535	5.000%, 12/01/32		12/21 at 100.00		A–		3,814,512
	10,280	Total North Dakota						11,124,831
		Ohio – 2.6%
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
	9,370	5.125%, 6/01/24		12/17 at 100.00		B–		8,906,560
	12,920	5.875%, 6/01/30		12/17 at 100.00		B–		12,565,992
	4,060	5.750%, 6/01/34		12/17 at 100.00		B–		3,930,324
	20,260	5.875%, 6/01/47		12/17 at 100.00		B–		19,488,904
	3,000	Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.250%, 11/01/29		11/20 at 100.00		A		3,297,210
	2,000	Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010, 5.750%, 11/01/40 (Pre-refunded 11/01/20)		11/20 at 100.00		A (4)		2,274,460
	3,040	Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26		7/20 at 100.00		BBB–		3,259,822
		Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C:
	2,725	5.625%, 8/15/29 (Pre-refunded 8/15/18)		8/18 at 100.00		N/R (4)		2,836,616
	525	5.625%, 8/15/29		8/18 at 100.00		A3		543,202
	5,820	Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41		11/21 at 100.00		AA–		6,682,990
	1,500	Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center Project, Refunding Series 2011, 5.250%, 8/01/41		8/21 at 100.00		A2		1,610,745
	3,500	Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding & improvement Series 2010, 6.375%, 4/01/30		4/20 at 100.00		BBB–		3,745,245
	1,500	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18)		No Opt. Call		Caa1		686,250
	2,730	Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19		No Opt. Call		BBB–		2,825,222
	1,250	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21)		No Opt. Call		Caa1		571,875
	700	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20)		No Opt. Call		Caa1		320,250
	4,000	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2008C, 3.950%, 11/01/32 (Mandatory put 5/01/20) (Alternative Minimum Tax)		No Opt. Call		Caa1		1,830,000

62 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
		Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012:
$	2,370	5.000%, 12/01/17		No Opt. Call		BB	$	2,380,120
	1,250	5.000%, 12/01/22		No Opt. Call		BB		1,334,050
	3,000	5.750%, 12/01/32		12/22 at 100.00		BB		3,284,850
	2,000	6.000%, 12/01/42		12/22 at 100.00		BB		2,197,840
	700	Toledo Lucas County Port Authority, Ohio, Revenue Bonds, Storypoint Waterville Project, Series 2016A-1, 6.125%, 1/15/34		1/24 at 104.00		N/R		714,077
	3,000	Trumbull County, Ohio, Multifamily Housing Revenue Bonds, Royal Mall Apartments, Series 2007, 5.000%, 5/20/49 (Alternative Minimum Tax)		11/17 at 102.00		Aa1		3,063,990
		Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County Hospital Project, Series 2012:
	2,000	5.000%, 12/01/27		12/22 at 100.00		Baa3		2,183,120
	2,500	5.000%, 12/01/32		12/22 at 100.00		Baa3		2,639,550
	95,720	Total Ohio						93,173,264
		Oklahoma – 0.6%
		Oklahoma Development Finance Authority, Revenue Bonds, Provident Oklahoma Education Resources Inc. – Cross Village Student Housing Project, Series 2017:
	7,500	5.000%, 8/01/52		8/27 at 100.00		BBB–		8,168,400
	2,500	5.250%, 8/01/57		8/27 at 100.00		BBB–		2,751,975
	9,090	Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds, American Airlines Inc., Refunding Series 2015, 5.000%, 6/01/35 (Mandatory put 6/01/25) (Alternative Minimum Tax)		6/25 at 100.00		BB–		9,836,016
	19,090	Total Oklahoma						20,756,391
		Oregon – 0.6%
	8,500	Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Bonds, Saint Charles Health System, Inc., Series 2016A, 5.000%, 1/01/48		1/26 at 100.00		A+		9,385,700
		Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Mirabella South Waterfront, Refunding Series 2014A:
	1,855	5.400%, 10/01/44		10/24 at 100.00		N/R		1,989,005
	1,600	5.500%, 10/01/49		10/24 at 100.00		N/R		1,703,824
	935	Oregon Facilities Authority, Revenue Bonds, Concordia University Project, Series 2010A, 6.125%, 9/01/30 (Pre-refunded 9/01/20)		9/20 at 100.00		N/R (4)		1,067,022
	885	Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A, 5.150%, 7/01/42 (Alternative Minimum Tax)		1/20 at 100.00		Aaa		909,957
	7,155	Port of Portland, Oregon, International Airport Revenue Bonds, Series 2010-20C, 5.000%, 7/01/27 (Alternative Minimum Tax)		7/20 at 100.00		AA–		7,832,435
	20,930	Total Oregon						22,887,943
		Pennsylvania – 2.6%
	315	Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)		8/22 at 100.00		B		310,874
	1,125	Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carlow University, Series 2011, 6.750%, 11/01/31		11/21 at 100.00		BBB		1,253,824
	1,750	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2005A, 4.000%, 1/01/35 (Mandatory put 7/01/21)		No Opt. Call		Caa1		800,625

NUVEEN 63

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A:
$	5,800	4.375%, 1/01/35 (Mandatory put 7/01/22)		No Opt. Call		B1	$	5,705,344
	450	3.500%, 4/01/41 (Mandatory put 6/01/20)		No Opt. Call		Caa1		205,875
	2,000	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20)		No Opt. Call		Caa1		915,000
	100	Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.125%, 1/01/29		1/19 at 100.00		BBB+		106,065
	900	Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.125%, 1/01/29 (Pre-refunded 1/01/19)		1/19 at 100.00		N/R (4)		957,393
	1,545	Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015, 5.000%, 1/01/38		1/25 at 100.00		BBB+		1,663,548
	2,000	Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008, 6.125%, 10/01/34 (Pre-refunded 10/01/18)		10/18 at 100.00		BBB (4)		2,103,640
	705	Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 (Pre-refunded 8/01/20)		8/20 at 100.00		N/R (4)		789,388
	910	Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Tender Option Bond Trust 2017-XF2454, 15.358%, 8/01/24 (Pre-refunded 8/01/20) (IF) (5)		8/20 at 100.00		N/R (4)		1,305,986
		Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A:
	1,860	5.250%, 1/15/45		1/25 at 100.00		Baa2		2,002,067
	1,310	5.250%, 1/15/46		1/25 at 100.00		Baa2		1,409,206
	3,990	Montgomery County Industrial Development Authority, Pennsylvania, Water Facilities Revenue Bonds, Aqua Pennsylvania, Inc. Project, Series 2007A, 5.250%, 7/01/42 (Alternative Minimum Tax)		7/18 at 100.00		AA–		4,095,017
	1,650	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)		11/24 at 100.00		N/R		1,772,430
	1,000	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38		9/25 at 100.00		B+		1,023,670
	2,465	Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19)		10/19 at 100.00		N/R (4)		2,674,278
		Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015:
	5,555	5.000%, 12/31/38 (Alternative Minimum Tax)		6/26 at 100.00		BBB		6,169,383
	3,750	5.000%, 6/30/42 (Alternative Minimum Tax)		6/26 at 100.00		BBB		4,143,937
	1,200	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 5.800%, 7/01/30 (Pre-refunded 7/01/20)		7/20 at 100.00		N/R (4)		1,350,204
	7,405	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45		6/25 at 100.00		A1		8,412,969
	15,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33 – AGM Insured		6/26 at 100.00		AA		19,306,500
	480	Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Global Leadership Academy Project, Series 2010, 5.750%, 11/15/30		11/20 at 100.00		BB		499,142

64 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	2,000	Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Ninth Series, 2010, 5.000%, 8/01/30 (Pre-refunded 8/01/20)		8/20 at 100.00		A (4)	$	2,219,660
	260	Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A, 5.000%, 6/15/40 – AGM Insured		6/20 at 100.00		AA		281,226
	2,380	Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 6.500%, 8/01/41 (Pre-refunded 8/01/20)		8/20 at 100.00		A+ (4)		2,738,071
	8,875	Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Refunding Series 2012, 5.000%, 11/01/28		11/22 at 100.00		A+		10,209,534
	2,400	Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/30 – AGM Insured		8/20 at 100.00		AA		2,601,384
	3,000	Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Bonds, Federal Transit Administration Section 5309 Fixed Guideway Modernization Formula Funds, Series 2011, 5.000%, 6/01/28		6/21 at 100.00		AA–		3,355,470
	1,600	State Public School Building Authority, Pennsylvania, College Revenue Bonds, Delaware County Community College, Series 2008, 5.000%, 10/01/24 (Pre-refunded 4/01/18) – AGM Insured		4/18 at 100.00		A1 (4)		1,632,928
	83,780	Total Pennsylvania						92,014,638
		South Carolina – 0.4%
	480	Greenville, South Carolina, Hospital Facilities Revenue Bonds, Series 1990, 6.000%, 5/01/20		No Opt. Call		AA–		510,096
	5,000	South Carolina Public Service Authority Santee Cooper Revenue Obligations, Refunding Series 2016B, 5.000%, 12/01/56		12/26 at 100.00		A+		5,550,150
	70	South Carolina Public Service Authority, Revenue Obligation Bonds, Santee Cooper Electric System, Series 2008A, 5.375%, 1/01/28 (Pre-refunded 1/01/19)		1/19 at 100.00		A+ (4)		73,901
	1,930	South Carolina Public Service Authority, Revenue Obligation Bonds, Santee Cooper Electric System, Series 2008A, 5.375%, 1/01/28 (Pre-refunded 1/01/19)		1/19 at 100.00		AAA		2,037,559
	2,165	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A, 5.000%, 12/01/31		6/26 at 100.00		A+		2,496,959
	2,000	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.500%, 12/01/33		12/23 at 100.00		A+		2,285,780
	11,645	Total South Carolina						12,954,445
		South Dakota – 0.3%
	2,500	Rapid City, South Dakota, Airport Customer Facility Charge Revenue Bonds, Recovery Zone Facility Bond Series 2010B, 7.000%, 12/01/30		12/20 at 102.00		N/R		2,759,275
	1,000	Rapid City, South Dakota, Airport Revenue Bonds, Passenger Facility Charge Supported, Refunding Series 2011A, 7.000%, 12/01/35		12/19 at 100.00		Baa3		1,076,450
	910	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/45		11/25 at 100.00		A+		1,020,392
	6,750	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Vocational Education Program, Series 2008, 5.500%, 8/01/38 (Pre-refunded 8/01/18) – AGC Insured		8/18 at 100.00		AA+ (4)		7,006,770
	11,160	Total South Dakota						11,862,887
		Tennessee – 0.6%
	3,670	Blount County Public Building Authority, Tennessee, Local Government Public Improvement Loan Bonds, Washington County, Series 2007B-12-A, 4.375%, 6/01/35 (Pre-refunded 6/01/19) – SYNCORA GTY Insured		6/19 at 100.00		AA (4)		3,873,391

NUVEEN 65

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee (continued)
		Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2008D:
$	510	6.000%, 10/01/23		10/18 at 100.00		BBB+	$	534,633
	1,500	6.125%, 10/01/28		10/18 at 100.00		BBB+		1,574,010
	3,000	Claiborne County, Tennessee, Industrial Development Board, Revenue Refunding Bonds, Lincoln Memorial University Project, Series 2009, 6.625%, 10/01/39		10/19 at 100.00		N/R		3,149,730
	1,000	Clarksville Natural Gas Acquisition Corporation, Tennessee, Natural Gas Revenue Bonds, Series 2006, 5.000%, 12/15/17 – SYNCORA GTY Insured		No Opt. Call		A		1,008,120
	1,440	Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012, 5.000%, 11/01/26		11/21 at 100.00		A		1,580,918
	5,240	Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/46 (UB) (5)		7/26 at 100.00		A3		5,832,225
		Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Series 2009A:
	215	5.000%, 10/01/39 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		231,921
	785	5.000%, 10/01/39 (Pre-refunded 10/01/19)		10/19 at 100.00		AA (4)		846,779
	635	South Blount County Utility District, Tennessee, Waterworks Revenue Bonds, Improvement & Refunding Series 2009, 5.250%, 12/01/39 (Pre-refunded 12/01/19) – AGM Insured		12/19 at 100.00		AA (4)		691,947
	1,365	South Blount County Utility District, Tennessee, Waterworks Revenue Bonds, Improvement & Refunding Series 2009, 5.250%, 12/01/39 – AGM Insured		12/19 at 100.00		AA		1,456,400
	1,000	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/21		No Opt. Call		A		1,128,860
	20,360	Total Tennessee						21,908,934
		Texas – 7.7%
		Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education, Series 2016A:
	125	5.000%, 12/01/46		12/26 at 100.00		BBB–		135,561
	740	5.000%, 12/01/51		12/26 at 100.00		BBB–		796,307
	5,280	Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2010, 5.500%, 8/15/49 – AGM Insured		8/19 at 100.00		AA		5,601,605
	3,635	Brazos County Health Facilities Development Corporation, Texas, Franciscan Services Corporation Obligated Group-St Joseph Regional, Revenue Bonds, Series 2008, 5.000%, 1/01/23 (Pre-refunded 7/01/18)		7/18 at 100.00		N/R (4)		3,747,212
	430	Brownsville, Texas, Utility System Revenue Bonds, Refunding Series 2008, 5.000%, 9/01/27 – AGM Insured		9/18 at 100.00		AA		444,384
	1,745	Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010, 5.750%, 1/01/25 (Pre-refunded 1/01/20)		1/20 at 100.00		BBB+ (4)		1,923,182
	3,400	Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.250%, 1/01/46 (Pre-refunded 1/01/21)		1/21 at 100.00		BBB+ (4)		3,942,980
	2,100	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Tejano Center for Community Concerns, Inc. – Raul Yzaguirre School for Success, Refunding Series 2009A, 8.750%, 2/15/28		2/18 at 100.00		B+		2,131,815
	2,745	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 5.000%, 8/15/32		8/22 at 100.00		BBB+		2,975,443

66 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	1,250	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2013, 6.000%, 8/15/33		8/23 at 100.00		BBB+	$	1,465,350
	2,500	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2014A, 4.250%, 12/01/34		12/24 at 100.00		BBB–		2,544,775
	9,700	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2015A, 5.000%, 12/01/50		6/25 at 100.00		BBB–		10,341,461
	12,265	Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Series 2016A, 5.000%, 12/01/46 (UB) (5)		12/25 at 100.00		AA+		14,136,271
		Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2011C:
	3,500	5.000%, 11/01/24		11/20 at 100.00		A+		3,887,765
	1,500	5.000%, 11/01/25		11/20 at 100.00		A+		1,665,225
	20	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B, 5.000%, 11/01/35		11/20 at 100.00		A+		22,090
	5,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012E, 5.000%, 11/01/42 (Alternative Minimum Tax)		11/21 at 100.00		A+		5,497,200
	1,760	Danbury Higher Education Authority Inc., Texas, Golden Rule Charter School Revenue Bonds, Series 2008A, 6.500%, 8/15/38 (Pre-refunded 2/15/18)		2/18 at 100.00		BBB– (4)		1,794,707
	1,720	Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38		11/22 at 100.00		Baa3		1,769,381
	1,075	Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)		10/22 at 100.00		BB		1,123,880
	8,585	Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men’s Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/33		6/23 at 100.00		Baa3		9,278,582
	2,000	Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2008B, 7.250%, 12/01/35 (Pre-refunded 12/01/18)		12/18 at 100.00		N/R (4)		2,145,440
	3,000	Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28		7/20 at 100.00		A		3,145,470
	1,270	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011A, 5.000%, 7/01/25 (Alternative Minimum Tax)		7/21 at 100.00		A+		1,415,936
	1,135	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines Inc. Terminal Improvement Project, Refunding Series 2015B-1, 5.000%, 7/15/30 (Alternative Minimum Tax)		7/25 at 100.00		BB–		1,251,837
	1,500	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines Inc. Terminal Improvement Project, Refunding Series 2015C, 5.000%, 7/15/20 (Alternative Minimum Tax)		No Opt. Call		BB–		1,609,380
	250	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (Alternative Minimum Tax)		7/24 at 100.00		BB–		275,058
	8,755	Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2017B, 5.000%, 11/15/37		11/27 at 100.00		Aa2		10,392,010
	1,955	Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011A, 5.250%, 9/01/28		9/21 at 100.00		A2		2,178,887
	335	Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014, 5.000%, 9/01/34		9/24 at 100.00		A2		378,604
	2,635	Humble Independent School District, Harris County, Texas, General Obligation Bonds, Series 2008A, 5.250%, 2/15/22 (Pre-refunded 2/15/18) – AGC Insured		2/18 at 100.00		Aa1 (4)		2,678,056

NUVEEN 67

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015:
$	1,360	5.000%, 8/15/30		8/25 at 100.00		BBB+	$	1,515,094
	1,280	5.000%, 8/15/35		8/25 at 100.00		BBB+		1,395,494
	6,720	Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%, 11/01/28 (Alternative Minimum Tax)		11/22 at 100.00		A3		7,499,923
		Lubbock Educational Facilities Authority, Texas, Revenue Bonds, Lubbock Christian University, Refunding & Improvement Series 2007:
	1,000	5.125%, 11/01/27 (Pre-refunded 11/01/17)		11/17 at 100.00		BBB (4)		1,003,880
	2,500	5.250%, 11/01/37 (Pre-refunded 11/01/17)		11/17 at 100.00		BBB (4)		2,509,975
	1,315	Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 2016B, 5.750%, 10/01/31 (Alternative Minimum Tax)		10/18 at 103.00		BB–		1,378,554
	4,590	Mission Economic Development Corporation, Texas, Water Supply Revenue Bonds, Enviro Water Minerals Project, Green Bonds, Series 2015, 7.750%, 1/01/45 (Alternative Minimum Tax)		1/26 at 102.00		N/R		4,122,692
		New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016:
	665	5.000%, 11/01/46		11/23 at 103.00		N/R		682,064
	805	5.000%, 11/01/51		11/23 at 103.00		N/R		827,451
		New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Methodist Retirement Communities Crestview Project, Series 2016:
	1,100	5.000%, 11/15/36		11/24 at 102.00		N/R		1,142,416
	1,550	5.000%, 11/15/46		11/24 at 102.00		N/R		1,589,897
	755	New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Wesleyan Homes, Inc. Project, Series 2014, 5.500%, 1/01/43		1/25 at 100.00		N/R		776,744
	5,505	New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Westminster Project, Series 2016, 4.000%, 11/01/36		11/24 at 102.00		N/R		5,403,818
		New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, L.L.C. – Texas A&M University-Corpus Christi Project, Series 2016A:
	30	5.000%, 4/01/31		4/26 at 100.00		BBB–		33,356
	360	5.000%, 4/01/36		4/26 at 100.00		BBB–		393,336
	65	5.000%, 4/01/48		4/26 at 100.00		BBB–		70,036
	6,625	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – College Station I LLC – Texas A&M University Project, Series 2014A, 4.100%, 4/01/34 – AGM Insured		4/24 at 100.00		AA		6,856,809
		New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – San Antonio 1, L.L.C. – Texas A&M University – San Antonio Project, Series 2016A:
	1,275	5.000%, 4/01/31		4/26 at 100.00		BBB–		1,418,603
	1,290	5.000%, 4/01/36		4/26 at 100.00		BBB–		1,409,454
	2,445	5.000%, 4/01/48		4/26 at 100.00		BBB–		2,634,414
	1,250	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – Stephenville II, L.L.C. – Tarleton State University Project, Series 2014A, 5.000%, 4/01/34		4/24 at 100.00		BBB–		1,353,712
	3,000	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Galveston-Texas A&M University at Galveston Project, Series 2014A, 5.000%, 4/01/34		4/24 at 100.00		Baa3		3,248,910

68 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	4,500	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, NCCD – College Station Properties LLC – Texas A&M University Project, Series 2015A, 5.000%, 7/01/47		7/25 at 100.00		BBB–	$	4,856,400
	2,000	North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F, 5.750%, 1/01/33 (Pre-refunded 1/01/18) (UB) (5)		1/18 at 100.00		A– (4)		2,024,360
	10,880	North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C, 0.000%, 9/01/45 (7)		9/31 at 100.00		AA+		12,754,406
	2,000	North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41		9/21 at 100.00		AA+		2,297,280
	560	North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A, 6.000%, 1/01/28		1/19 at 100.00		A1		594,255
	2,440	North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A, 6.000%, 1/01/28 (Pre-refunded 1/01/19)		1/19 at 100.00		N/R (4)		2,591,792
	4,410	North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/34		1/25 at 100.00		A2		5,033,530
	2,695	Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Series 2010D-1, 5.000%, 10/01/30		10/20 at 100.00		AAA		2,991,342
		Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A:
	655	5.000%, 2/01/29		2/24 at 100.00		Ba2		685,687
	1,805	5.000%, 2/01/34		2/24 at 100.00		Ba2		1,893,752
	385	5.125%, 2/01/39		2/24 at 100.00		Ba2		396,088
	645	SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series 2007, 5.500%, 8/01/27		No Opt. Call		A		798,220
	10,000	San Antonio, Texas, Electric and Gas System Revenue Bonds, Refunding Series 2009A, 5.250%, 2/01/25 (Pre-refunded 2/01/19)		2/19 at 100.00		Aa1 (4)		10,571,000
	4,000	San Antonio, Texas, Electric and Gas System Revenue Bonds, Series 2008, 5.000%, 2/01/25 (Pre-refunded 2/01/18)		2/18 at 100.00		Aa1 (4)		4,055,960
	9,030	Southwest Higher Education Authority Inc., Texas, Revenue Bonds, Southern Methodist University, Refunding Series 2009, 5.000%, 10/01/36 (Pre-refunded 10/01/19)		10/19 at 100.00		AA– (4)		9,746,350
		Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010:
	70	5.500%, 8/15/45 (Pre-refunded 8/15/20)		8/20 at 100.00		N/R (4)		78,716
	870	5.500%, 8/15/45 (Pre-refunded 8/15/20)		8/20 at 100.00		AA– (4)		978,332
	3,000	Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources System, Series 2016A, 5.000%, 2/15/41		8/26 at 100.00		AA		3,446,850
	180	Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 5.625%, 12/15/17		No Opt. Call		BBB+		181,469
	3,670	Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/27		12/22 at 100.00		A3		4,151,944
	5,270	Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, Blueridge Transportation Group, LLC SH 288 Toll Lanes Project, Series 2016, 5.000%, 12/31/40 (Alternative Minimum Tax)		12/25 at 100.00		Baa3		5,789,306
	845	Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009, 6.875%, 12/31/39		12/19 at 100.00		Baa2		939,648
	7,800	Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010, 7.000%, 6/30/40		6/20 at 100.00		Baa3		8,819,226

NUVEEN 69

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	7,300	Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 Segments 3A & 3B Facility, Series 2013, 6.750%, 6/30/43 (Alternative Minimum Tax)		9/23 at 100.00		BBB–	$	8,446,830
	1,750	Texas State, General Obligation Bonds, Water Financial Assistance, Tender Option Bond Trust 2015-XF0075, 16.146%, 8/01/34 (IF)		8/19 at 100.00		AAA		2,226,210
		Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B:
	16,500	0.000%, 8/15/36		8/24 at 59.60		A–		7,534,230
	7,000	0.000%, 8/15/37		8/24 at 56.94		A–		3,045,350
	11,000	Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C, 5.000%, 8/15/42		8/24 at 100.00		BBB+		12,170,400
	150	Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010, 7.000%, 11/01/30		11/20 at 100.00		N/R		168,741
	600	Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010, 7.000%, 11/01/30 (Pre-refunded 11/01/20)		11/20 at 100.00		N/R (4)		704,472
	500	Uptown Development Authority, Houston, Texas, Tax Increment Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 5.250%, 9/01/24 (Pre-refunded 9/01/19)		9/19 at 100.00		BBB (4)		539,785
	1,030	Viridian Municipal Management District, Texas, Reinvest Zone 6 Tax Increment Revenue Bonds, Refunding Road Improvement Series 2015, 6.000%, 12/01/32 – BAM Insured		12/24 at 100.00		AA		1,287,572
	1,135	Viridian Municipal Management District, Texas, Reinvest Zone 6 Tax Increment Revenue Bonds, Refunding Utility Improvement Series 2015, 6.000%, 12/01/31 – BAM Insured		12/24 at 100.00		AA		1,424,822
	262,070	Total Texas						271,186,811
		Utah – 1.0%
	20,000	Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A, 5.000%, 7/01/42 (Alternative Minimum Tax)		7/27 at 100.00		A+		23,013,400
		Utah State Charter School Finance Authority Charter School Revenue Bonds, Vista at Entrada School of Performing Arts and Technology) Series 2012:
	575	5.600%, 7/15/22		No Opt. Call		BB+		614,997
	850	6.300%, 7/15/32		7/22 at 100.00		BB+		925,259
	1,000	Utah State Charter School Finance Authority, Charter School Revenue Bonds, Navigator Pointe Academy Project, Series 2010A, 5.625%, 7/15/40		7/20 at 100.00		BBB		1,045,460
	1,250	Utah State Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 6.250%, 7/15/30		7/20 at 100.00		BBB–		1,328,337
	1,135	Utah State Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.375%, 7/15/40		7/20 at 100.00		BB		1,187,017
		Utah State Charter School Finance Authority, Revenue Bonds, George Washington Academy Project, Series 2011A:
	2,035	7.750%, 7/15/31 (Pre-refunded 7/15/21)		7/21 at 100.00		BBB– (4)		2,432,578
	3,520	8.000%, 7/15/41 (Pre-refunded 7/15/21)		7/21 at 100.00		BBB– (4)		4,332,416
	30,365	Total Utah						34,879,464
		Vermont – 0.1%
		Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, Vermont Law School Project, Series 2011A:
	1,815	6.125%, 1/01/28 (Pre-refunded 1/01/21)		1/21 at 100.00		N/R (4)		2,094,474
	1,000	6.250%, 1/01/33 (Pre-refunded 1/01/21)		1/21 at 100.00		N/R (4)		1,157,960
	2,815	Total Vermont						3,252,434

70 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia – 0.9%
$	430	Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage Revenue Bonds, Berkeley Apartments, Series 2000, 5.850%, 12/01/20 (Alternative Minimum Tax)		11/17 at 100.00		AA	$	431,462
	2,000	Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, Refunding Series 2011C, 5.000%, 10/01/26 (Alternative Minimum Tax)		10/21 at 100.00		AA–		2,255,960
	3,745	Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien Revenue Bonds, Series 2009B, 0.000%, 10/01/31 – AGC Insured		No Opt. Call		AA		2,303,587
	10,070	Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47		12/17 at 100.00		B–		9,812,409
	1,000	Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Green Series 2015B, 5.000%, 7/01/45		7/25 at 100.00		BB+		1,059,210
	5,500	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax)		1/22 at 100.00		BBB		5,930,650
		Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
	3,515	5.250%, 1/01/32 (Alternative Minimum Tax)		7/22 at 100.00		BBB		3,885,903
	6,515	5.500%, 1/01/42 (Alternative Minimum Tax)		7/22 at 100.00		BBB		7,252,889
	32,775	Total Virginia						32,932,070
		Washington – 1.9%
	6,220	Clark County Public Utility District 1, Washington, Electric System Revenue Bonds, Refunding Series 2011, 5.250%, 1/01/31 (Pre-refunded 1/01/21)		1/21 at 100.00		A1 (4)		7,036,748
	960	FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Tender Option Bond Trust 2016-XL0006, 11.794%, 6/01/34 (IF) (5)		6/19 at 100.00		AA		1,213,709
	2,450	King County Public Hospital District 4, Washington, General Obligation Bonds, Snoqualmie Valley Hospital, Refunding Improvement Series 2011, 7.000%, 12/01/40		12/21 at 100.00		N/R		2,612,312
	695	Ocean Shores, Washington, Local Improvement District 2007-01 Bonds, 2011, 7.250%, 2/01/31		No Opt. Call		BBB+		875,054
		Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016:
	3,825	5.000%, 12/01/30		12/26 at 100.00		Baa2		4,260,247
	1,950	5.000%, 12/01/31		12/26 at 100.00		Baa2		2,156,739
	4,000	5.000%, 12/01/32		12/26 at 100.00		Baa2		4,394,600
	1,120	5.000%, 12/01/37		12/26 at 100.00		Baa2		1,206,117
	2,000	Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35		1/21 at 100.00		A		2,170,640
	3,535	Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.250%, 12/01/30 (Pre-refunded 12/01/20)		12/20 at 100.00		N/ R (4)		3,984,157
		Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012:
	2,775	5.000%, 12/01/27 (Pre-refunded 12/01/21)		12/21 at 100.00		N/ R (4)		3,201,184
	2,435	5.000%, 12/01/42 (Pre-refunded 12/01/21)		12/21 at 100.00		N/ R (4)		2,808,967
	1,600	Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A, 5.000%, 11/15/28		5/24 at 100.00		A+		1,842,752

NUVEEN 71

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
		Washington Health Care Facilities Authority, Revenue Bonds, Yakima Valley Memorial Hospital Association, Series 2016:
$	6,000	5.000%, 12/01/41		12/26 at 100.00		Baa3	$	6,552,900
	5,930	5.000%, 12/01/46		12/26 at 100.00		Baa3		6,433,398
	845	Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009, 6.250%, 7/01/24		7/19 at 100.00		Baa1		907,378
		Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009:
	1,155	6.250%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		1,259,608
	2,000	7.000%, 7/01/39 (Pre-refunded 7/01/19)		7/19 at 100.00		Baa1 (4)		2,205,300
	3,000	Washington State Higher Education Facilities Authority, Revenue Bonds, Whitworth University, Series 2009, 5.375%, 10/01/29 (Pre-refunded 10/01/19)		10/19 at 100.00		Baa1 (4)		3,256,500
		Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016:
	1,155	5.000%, 7/01/41		7/26 at 100.00		N/R		1,194,640
	2,000	5.000%, 7/01/46		7/26 at 100.00		N/R		2,032,460
	3,805	5.000%, 7/01/51		7/26 at 100.00		N/R		3,845,029
	1,100	Washington State Housing Finance Commission, Non-Profit Revenue Bonds, Emerald Heights Project, Refunding 2013, 5.000%, 7/01/28		7/23 at 100.00		A–		1,210,869
	2,340	Washington State Housing Finance Commission, Revenue Bonds, Riverview Retirement Community, Refunding Series 2012, 5.000%, 1/01/48		1/23 at 100.00		BBB–		2,415,044
	62,895	Total Washington						69,076,352
		West Virginia – 0.1%
	1,020	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2009A, 5.625%, 9/01/32		9/19 at 100.00		Baa1		1,078,844
	1,000	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Thomas Health System, Inc., Series 2008, 6.500%, 10/01/28		10/18 at 100.00		N/R		1,022,340
	1,585	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding & Improvement Series 2013A, 4.000%, 6/01/41		6/26 at 100.00		A		1,635,387
	3,605	Total West Virginia						3,736,571
		Wisconsin – 3.7%
	5,000	Oneida Tribe of Indians of Wisconsin, Retail Sales Revenue Bonds, Series 2011-144A, 6.500%, 2/01/31		2/19 at 102.00		BBB+		5,393,850
	1,250	Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A, 5.000%, 2/01/36		2/26 at 100.00		N/R		1,202,013
	2,155	Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North Carolina Charter Educational Foundation Project, Series 2016A, 5.000%, 6/15/46		6/26 at 100.00		N/R		2,072,291
		Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Voyager Foundation Inc. of North Carolina, Series 2012A:
	240	5.500%, 10/01/22		No Opt. Call		BB+		262,094
	375	6.000%, 10/01/32		10/22 at 100.00		BB+		401,869
		Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Voyager Foundation, Inc. of North Carolina Project, Series 2014A:
	1,080	5.000%, 10/01/34		10/22 at 100.00		BB+		1,107,367
	500	5.125%, 10/01/45		10/22 at 100.00		BB+		509,490

72 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
		Public Finance Authority of Wisconsin, Educational Facility Revenue Bonds, Cottonwood Classical Preparatory School in Albuquerque, New Mexico, Series 2012A:
$	1,610	6.000%, 12/01/32		12/22 at 100.00		N/R	$	1,652,939
	5,000	6.250%, 12/01/42		12/22 at 100.00		N/R		5,143,700
	1,940	Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2014, 5.250%, 4/01/30 (Alternative Minimum Tax)		11/24 at 100.00		N/R		2,076,595
	3,845	Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2016, 4.000%, 8/01/35 (Alternative Minimum Tax)		8/26 at 100.00		N/R		3,757,949
	10,000	Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 6.750%, 12/01/42		12/27 at 100.00		N/R		11,564,500
	1,575	Public Finance Authority of Wisconsin, Revenue Bonds, Carolina International School, Series 2013A, 7.000%, 8/01/43		8/23 at 100.00		BB+		1,746,958
	5,000	Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.300%, 11/01/30 (Alternative Minimum Tax)		5/26 at 100.00		BBB–		5,211,400
	2,550	Superior, Wisconsin, Limited Obligation Revenue Refunding Bonds, Midwest Energy Resources Company, Series 1991E, 6.900%, 8/01/21 – FGIC Insured		No Opt. Call		Aa3		3,048,882
	1,455	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.250%, 4/15/24		4/20 at 100.00		A+		1,579,650
	1,225	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2010A, 6.125%, 6/01/39 (Pre-refunded 6/01/20)		6/20 at 100.00		Baa2 (4)		1,386,063
	625	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2016, 5.000%, 7/01/36		7/26 at 100.00		Baa2		673,619
	2,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Health, Inc. Obligated Group, Series 2017A, 4.000%, 4/01/39		4/27 at 100.00		AA–		2,059,040
	13,950	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39		10/21 at 100.00		A+		15,220,287
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B:
	1,000	5.000%, 2/15/40		2/22 at 100.00		A–		1,077,610
	35	4.500%, 2/15/40		2/22 at 100.00		A–		36,654
	5,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2016A, 5.000%, 2/15/46		2/26 at 100.00		A–		5,498,400
	18,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012, 5.000%, 6/01/32		6/22 at 100.00		A3		19,623,420
	7,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C, 5.000%, 8/15/32 (Pre-refunded 8/15/22)		8/22 at 100.00		N/R (4)		8,199,100
	435	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Refunding Series 2015, 5.000%, 8/15/39		8/24 at 100.00		A+		482,132
	595	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Series 2009, 6.625%, 2/15/39 (Pre-refunded 2/15/19)		2/19 at 100.00		N/R (4)		640,720
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A:
	2,980	5.000%, 7/01/34		7/24 at 100.00		A–		3,256,067
	2,100	4.350%, 7/01/36		7/21 at 100.00		A–		2,132,466

NUVEEN 73

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		Wisconsin (continued)
$	3,450	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/43		8/23 at 100.00				A	$	3,664,245
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014:
	5,000	5.000%, 12/01/34		12/22 at 102.00				N/R		5,216,900
	4,435	5.000%, 12/01/44		12/22 at 102.00				N/R		4,563,881
	4,225	5.250%, 12/01/49		12/22 at 102.00				N/R		4,404,224
		Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014:
	1,880	5.250%, 10/01/39		10/22 at 102.00				N/R		1,995,206
	1,000	5.375%, 10/01/44		10/22 at 102.00				N/R		1,062,880
	3,500	5.500%, 10/01/49		10/22 at 102.00				N/R		3,734,500
	122,010	Total Wisconsin								131,658,961
		Wyoming – 0.4%
	2,000	Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative – Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39		7/19 at 100.00				A		2,128,200
	4,500	Natrona County, Wyoming, Hospital Revenue Bonds, Wyoming Medical Center Project, Series 2011, 6.350%, 9/15/31 (Pre-refunded 3/15/21)		3/21 at 100.00				A3 (4)		5,287,680
		Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John’s Medical Center Project, Series 2011B:
	800	5.500%, 12/01/27		12/21 at 100.00				BBB+		889,736
	2,500	6.000%, 12/01/36		12/21 at 100.00				BBB+		2,776,400
	3,650	West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 7.000%, 6/01/40		6/21 at 100.00				BBB		4,085,079
	13,450	Total Wyoming								15,167,095
$	3,263,182	Total Municipal Bonds (cost $3,311,549,470)								3,533,186,060
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (3)		Value
		CORPORATE BONDS – 0.0%
		Transportation – 0.0%
$	136	Las Vegas Monorail Company, Senior Interest Bonds (11), (12)		5.500%		7/15/19		N/R	$	86,093
	37	Las Vegas Monorail Company, Senior Interest Bonds (11), (12)		5.500%		7/15/55		N/R		18,747
$	173	Total Corporate Bonds (cost $13,580)								104,840
		Total Long-Term Investments (cost $3,311,563,050)								3,533,290,900
Principal Amount (000)		Description (1)	Optional Call Provision (2)				Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 0.8%
		MUNICIPAL BONDS – 0.8%
		New York – 0.4%
$	15,000	New York State Housing Finance Agency, Variable Rate Demand Obligations, Affordable Housing Revenue Bonds, Series 2015A, 0.900%, 5/01/49 (13)		11/17 at 100.00				VMIG-1	$	15,000,000

74 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provision (2)		Ratings (3)		Value
		North Carolina – 0.4%
$	15,000	University of North Carolina Chapel Hill, Variable Rate Demand Obligations, Revenue Bonds, University of North Carolina Hospitals at Chapel Hill, Variable Rate Demand Series 2001B, 0.920%, 2/15/31 (13)		1/18 at 100.00		A-1	$	15,000,000
$	30,000	Total Short-Term Investments (cost $30,000,000)						30,000,000
		Total Investments (cost $3,341,563,050) – 101.0%						3,563,290,900
		Floating Rate Obligations – (1.9)%						(67,370,000	)
		Other Assets Less Liabilities – 0.9%						31,381,502
		Net Assets – 100%					$	3,527,302,402

(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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

(4) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(5) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.

(6) The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016.

(7) Step-up coupon bond, a bond with a coupon that increases (“steps up”), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

(8) As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.

(9) On January 7, 2015, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual from 7.125% to 5.700% and again on November 11, 2015, further reduced the security’s interest rate of accrual from 5.700% to 4.275%.

(10) On May 7, 2015, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual from 5.250% to 2.100%.

(11) During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund’s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund’s records.

(12) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.

(13) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

ETM Escrowed to maturity.

IF Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.

UB Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.

WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

See accompanying notes to financial statements.

NUVEEN 75

Nuveen Inflation Protected Municipal Bond Fund

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 101.6%
		MUNICIPAL BONDS – 101.6%
		Alabama – 1.1%
$	1,000	Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/34		No Opt. Call		A3	$	1,197,410
		Alaska – 2.2%
	2,000	Alaska Municipal Bond Bank, General Obligation Bonds, 2016 Master Resolution Series 2017A, 5.000%, 10/01/27		No Opt. Call		AA–		2,428,840
		Arizona – 0.4%
	390	Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A, 5.000%, 2/01/19		No Opt. Call		BBB+		407,940
		California – 14.4%
	1,000	Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 10/01/27 – AGM Insured (4)		10/23 at 100.00		AA		1,190,630
	65	California Health Facilities Financing Authority, Revenue Bonds, Children’s Hospital Los Angeles, Series 2017A, 5.000%, 8/15/32		8/27 at 100.00		BBB+		75,317
	500	California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 2017, 5.000%, 2/01/28		2/27 at 100.00		A+		606,025
	850	California Municipal Finance Authority, Revenue Bonds, University of San Diego, Refunding Series 2012A, 5.000%, 10/01/31		10/22 at 100.00		A1		988,711
	1,000	California State, General Obligation Bonds, Refunding Various Purpose Series 2015, 5.000%, 9/01/25		No Opt. Call		AA–		1,228,350
	1,025	Eastern Municipal Water District Financing Authority, California, Water and Wastewater Revenue Bonds, Series 2016B, 5.000%, 7/01/28		7/26 at 100.00		AA+		1,263,425
	1,665	Eastern Municipal Water District Financing Authority, California, Water and Wastewater Revenue Bonds, Series 2017D, 5.250%, 7/01/42		7/27 at 100.00		AA+		2,023,741
	470	El Camino Community College District, California, General Obligation Bonds, Election of 2002 Series 2012C, 0.000%, 8/01/21		No Opt. Call		Aa1		443,906
	555	Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2013A, 5.000%, 6/01/21		No Opt. Call		A+		630,214
	830	Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007, 5.000%, 6/01/21		12/17 at 100.00		N/R		827,991
	2,000	Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017B, 5.000%, 7/01/28		1/27 at 100.00		Aa2		2,473,200
	130	Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Refunding Bonds, LAXFUEL Corporation at Los Angeles International Airport, Series 2012, 5.000%, 1/01/21 (Alternative Minimum Tax)		No Opt. Call		A		144,708
	1,000	San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2011A, 5.000%, 11/01/21		No Opt. Call		AA–		1,153,320
	800	San Francisco, California, Community Facilities District 6, Mission Bay South Public Improvements, Special Tax Refunding Bonds, Series 2013A, 5.000%, 8/01/25		8/22 at 100.00		N/R		909,032

76 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	1,500	San Joaquin County Transportation Authority, California, Sales Tax Revenue, Limited Tax Measure K Series 2017, 5.000%, 3/01/31		3/27 at 100.00		AA	$	1,825,695
	13,390	Total California						15,784,265
		Colorado – 9.3%
	555	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012A, 5.000%, 11/15/22 (Alternative Minimum Tax) (4)		No Opt. Call		A+		642,024
		Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016:
	1,000	5.000%, 12/01/30		12/26 at 100.00		Baa2		1,167,510
	1,250	5.000%, 12/01/35		12/26 at 100.00		Baa2		1,427,575
	1,000	Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, Stapleton Senior Refunding Series 2013A-1, 5.000%, 12/01/23		12/22 at 100.00		AA–		1,150,400
	1,000	Denver West Metropolitan District, Jefferson County, Colorado, General Obligation Refunding Bonds, Series 2012A, 4.000%, 12/01/20 – AGM Insured (4)		No Opt. Call		AA		1,076,720
	525	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21 – NPFG Insured		No Opt. Call		A		490,628
	1,000	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/20 – NPFG Insured		No Opt. Call		A		956,620
	1,250	Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013, 5.000%, 12/01/19		No Opt. Call		N/R		1,311,837
	1,055	Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.500%, 11/15/38		No Opt. Call		A		1,481,484
	500	Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 5.250%, 7/15/24		7/20 at 100.00		BBB+		537,925
	9,135	Total Colorado						10,242,723
		Connecticut – 2.1%
	500	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A, 5.000%, 9/01/26		No Opt. Call		AA		602,500
	1,500	University of Connecticut, General Obligation Bonds, Series 2017A, 5.000%, 1/15/36		1/27 at 100.00		AA–		1,709,055
	2,000	Total Connecticut						2,311,555
		District of Columbia – 1.4%
	295	District of Columbia, Revenue Bonds, Association of American Medical Colleges, Series 2011A, 5.000%, 10/01/24		10/23 at 100.00		AA		345,483
	1,000	District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2017, 5.000%, 4/01/31		4/27 at 100.00		A		1,201,910
	1,295	Total District of Columbia						1,547,393
		Florida – 3.2%
	1,000	Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2015, 5.000%, 10/01/33		10/25 at 100.00		A1		1,159,910
	1,000	Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (Alternative Minimum Tax)		6/20 at 100.00		Baa2		1,027,920

NUVEEN 77

Nuveen Inflation Protected Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	620	Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/22		No Opt. Call		AA	$	713,087
	500	Tallahassee, Florida, Energy System Revenue Bonds, Refunding Series 2017, 5.000%, 10/01/25		No Opt. Call		AA		613,460
	3,120	Total Florida						3,514,377
		Georgia – 3.5%
	1,350	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project, Series 2016D, 5.000%, 1/01/27		No Opt. Call		A2		1,621,107
		Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2014:
	188	5.500%, 7/15/23		7/21 at 100.00		N/R		190,032
	374	5.500%, 7/15/30		7/21 at 100.00		N/R		377,208
	410	5.500%, 1/15/36		7/21 at 100.00		N/R		413,984
	1,000	Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/20		No Opt. Call		A		1,069,450
	110	Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A, 5.500%, 9/15/26		No Opt. Call		A		131,945
	3,432	Total Georgia						3,803,726
		Illinois – 5.4%
	305	Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2001A, 5.500%, 1/01/30 – NPFG Insured		No Opt. Call		A		358,314
	1,000	Cook County, Illinois, Sales Tax Revenue Bonds, Series 2017, 5.000%, 11/15/33		11/27 at 100.00		AAA		1,174,490
	335	Illinois Finance Authority, Revenue Bonds, Alexian Brothers Health System, Refunding Series 2005B, 5.250%, 1/01/22 (Pre-refunded 4/14/18) – AGM Insured		4/18 at 100.00		A2 (5)		342,695
	325	Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2012A, 5.000%, 3/01/22		No Opt. Call		AA–		370,458
	330	Illinois Finance Authority, Revenue Bonds, Lake Forest College, Series 2012A, 5.000%, 10/01/22		No Opt. Call		BBB–		346,820
	600	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 12/01/19		No Opt. Call		AA–		649,650
	165	Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding Series 2017A, 5.000%, 11/01/32 – AGM Insured		11/26 at 100.00		AA		189,098
	535	Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 5.000%, 6/01/19		No Opt. Call		A		567,689
	915	Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2016A, 5.000%, 6/01/21		No Opt. Call		AA		1,030,674
	1,065	Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured (4)		No Opt. Call		AA		921,001
	5,575	Total Illinois						5,950,889
		Indiana – 1.4%
	500	Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/24		5/23 at 100.00		A		579,615
	615	Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health System Obligated Group, Refunding Series 2012A, 5.000%, 5/01/22		No Opt. Call		AA–		708,738

78 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	235	Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2017A, 5.000%, 8/15/26		No Opt. Call		AA	$	287,913
	1,350	Total Indiana						1,576,266
		Iowa – 1.2%
	1,125	Dubuque, Iowa, General Obligation Bonds, Sales Tax Increment, Second Lien Series 2014, 5.000%, 6/01/25 (4)		6/24 at 100.00		Aa3		1,329,097
		Kansas – 1.1%
	1,025	Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Improvement Series 2012B, 5.000%, 9/01/23		9/22 at 100.00		A+		1,180,913
		Kentucky – 0.9%
	65	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 5.500%, 6/01/21 (Pre-refunded 6/01/20)		6/20 at 100.00		BBB (5)		72,425
		Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1:
	380	5.750%, 12/01/28 – AGC Insured		6/18 at 100.00		AA		386,848
	525	6.000%, 12/01/33 – AGC Insured		6/18 at 100.00		AA		534,319
	970	Total Kentucky						993,592
		Louisiana – 3.1%
	600	Louisiana Offshore Terminal Authority, Deepwater Port Revenue Bonds, LOOP Inc. Project, Variable Rate Series 2010B-1A, 2.000%, 10/01/40 (Mandatory put 10/01/22)		No Opt. Call		BBB+		600,000
	1,000	Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 5.000%, 7/01/23		No Opt. Call		AA–		1,177,500
	500	New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012, 5.000%, 12/01/27 – AGM Insured		12/22 at 100.00		AA		568,030
	1,015	Regional Transit Authority, Louisiana, Sales Tax Revenue Bonds, Series 2010, 5.000%, 12/01/19 – AGM Insured (4)		No Opt. Call		AA		1,096,220
	3,115	Total Louisiana						3,441,750
		Maine – 1.1%
		Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013:
	185	5.000%, 7/01/25		7/23 at 100.00		BBB		201,663
	1,000	5.000%, 7/01/33		7/23 at 100.00		BBB		1,046,710
	1,185	Total Maine						1,248,373
		Maryland – 2.1%
	2,000	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health Issue, Series 2017A, 5.000%, 5/15/42		5/27 at 100.00		A		2,267,820
		Massachusetts – 0.5%
	530	Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A, 5.000%, 1/01/21 – AMBAC Insured (Alternative Minimum Tax)		12/17 at 100.00		N/R		534,887
		Michigan – 0.5%
	45	Michigan Finance Authority, Public School Academy Revenue Bonds, Detroit Service Learning Academy Project, Refunding Series 2011, 6.000%, 10/01/21		No Opt. Call		BB–		44,795

NUVEEN 79

Nuveen Inflation Protected Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
$	500	Michigan Municipal Bond Authority, Clean Water Revolving Fund Revenue Bonds, Series 2010, 5.000%, 10/01/27 (Pre-refunded 10/01/20)		10/20 at 100.00		AAA	$	557,730
	545	Total Michigan						602,525
		Minnesota – 0.6%
	550	Rochester, Minnesota, Electric Utility Revenue Bonds, Refunding Series 2017A, 5.000%, 12/01/27		12/26 at 100.00		Aa3		672,996
		Missouri – 1.1%
	1,000	Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2014A, 5.000%, 1/01/24		No Opt. Call		A		1,176,190
		Nebraska – 1.5%
	500	Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/42		9/22 at 100.00		A		543,810
	935	Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Children’s Hospital Obligated Group, Series 2017, 5.000%, 11/15/35		5/27 at 100.00		AA–		1,085,245
	1,435	Total Nebraska						1,629,055
		Nevada – 2.6%
	390	Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/23 – AGM Insured		7/19 at 100.00		AA		416,122
	1,000	Clark County, Nevada, Sales & Excise Tax Revenue Bonds, Streets and Highways Series 2016, 5.000%, 7/01/29		No Opt. Call		AA		1,245,180
	1,000	Truckee Meadows Water Authority, Nevada, Water Revenue Bonds, Refunding Series 2017, 5.000%, 7/01/27		No Opt. Call		AA+		1,242,630
	2,390	Total Nevada						2,903,932
		New Jersey – 2.3%
	2,000	New Jersey Economic Development Authority, Revenue Bonds, The Seeing Eye Inc., Refunding Series 2015, 5.000%, 3/01/25		No Opt. Call		A		2,388,660
	165	New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 4.875%, 9/15/19 (Alternative Minimum Tax)		No Opt. Call		BB–		170,498
	2,165	Total New Jersey						2,559,158
		New York – 4.2%
	490	Dormitory Authority of the State of New York, Revenue Bonds, Teachers College, Series 2017, 5.000%, 7/01/27		No Opt. Call		A+		604,292
	1,000	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014E, 5.000%, 2/15/26		2/25 at 100.00		AAA		1,208,440
	110	New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/30 (Alternative Minimum Tax)		7/24 at 100.00		BBB		123,930
	1,250	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Eighth Series 2013, 5.000%, 12/01/22 (Alternative Minimum Tax) (4)		No Opt. Call		AA–		1,457,650
	1,000	TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A, 5.000%, 6/01/28		6/27 at 100.00		A–		1,188,040
	3,850	Total New York						4,582,352

80 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Carolina – 5.9%
$	1,000	North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Refunding Series 2016A, 5.000%, 6/01/28		No Opt. Call		AA	$	1,247,840
	835	North Carolina Turnpike Authority, Monroe Connector System State Appropriation Bonds, Series 2011, 5.000%, 7/01/21 (4)		No Opt. Call		AA		949,846
	590	North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A, 5.000%, 7/01/23		No Opt. Call		BBB–		679,704
	1,000	North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Senior Lien Series 2017, 5.000%, 1/01/26 – AGM Insured		No Opt. Call		AA		1,203,600
	2,000	Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 5/01/28 (Alternative Minimum Tax)		5/27 at 100.00		Aa3		2,430,920
	5,425	Total North Carolina						6,511,910
		North Dakota – 1.0%
	1,000	Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/37		12/27 at 100.00		A–		1,126,490
		Ohio – 4.5%
	670	Cleveland, Ohio, Water Revenue Bonds, Series 2017BB, 5.000%, 1/01/26		No Opt. Call		AA+		825,681
	190	Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series 1993G, 5.500%, 1/01/21 – NPFG Insured		No Opt. Call		Aa1		204,356
	1,000	New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C, 5.000%, 10/01/22		No Opt. Call		Aa3		1,143,240
	2,000	Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Series 2017A, 5.000%, 12/01/28		6/27 at 100.00		AAA		2,492,500
	200	Toledo-Lucas County Port Authority, Ohio, Revenue Refunding Bonds, CSX Transportation Inc., Series 1992, 6.450%, 12/15/21		No Opt. Call		Baa1		237,332
	4,060	Total Ohio						4,903,109
		Oklahoma – 0.7%
	630	Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2017A, 5.000%, 1/01/37		1/26 at 100.00		AA–		729,994
		Oregon – 1.5%
	415	Metro, Oregon, Dedicated Tax Revenue Bonds, Oregon Convention Center Hotel, Series 2017, 5.000%, 6/15/25		No Opt. Call		Aa3		502,773
	1,000	Port of Portland, Oregon, International Airport Revenue Bonds, Series 2014-22, 5.000%, 7/01/24 (Alternative Minimum Tax)		No Opt. Call		AA–		1,186,590
	1,415	Total Oregon						1,689,363
		Pennsylvania – 2.6%
	840	Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012, 5.000%, 1/01/24		1/23 at 100.00		A–		942,791
	1,500	Norristown Area School District, Pennsylvania, Installment Purchase Certificates of Participation, Series 2012, 5.000%, 4/01/32		4/22 at 100.00		A3		1,600,125
	170	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Philadelphia University, Refunding Series 2013, 5.000%, 6/01/21		No Opt. Call		BBB+		187,700

NUVEEN 81

Nuveen Inflation Protected Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	5	Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012B, 5.000%, 9/01/24 – AGM Insured		9/22 at 100.00		AA–	$	5,778
	2,515	Total Pennsylvania						2,736,394
		Tennessee – 6.0%
	2,000	Memphis & Shelby County Economic Development Growth Engine Industrial Development Board, Tennessee, Tourism Development Zone Revenue Bonds, Refunding Series 2017B, 5.000%, 11/01/27		11/26 at 100.00		AA–		2,444,840
	1,305	Sullivan County, Tennessee, General Obligation Bonds, School Series 2017, 5.000%, 5/01/26		No Opt. Call		Aa2		1,618,396
	2,000	Tennessee State School Bond Authority, Higher Educational Facilities Second Program Bonds, Series 2017A, 5.000%, 11/01/27		No Opt. Call		AA+		2,527,560
	5,305	Total Tennessee						6,590,796
		Texas – 6.1%
	1,000	Aldine Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Series 2017, 5.000%, 2/15/26		No Opt. Call		AAA		1,231,640
	1,000	Austin, Texas, Water and Wastewater System Revenue Bonds, Refunding Series 2016A, 5.000%, 11/15/41		11/26 at 100.00		AA		1,166,450
	365	Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien Series 2013, 5.000%, 1/01/23		No Opt. Call		BBB		420,933
	1,000	Dallas, Texas, General Obligation Bonds, Refunding & Improvement Series 2014, 5.000%, 2/15/22		No Opt. Call		AA		1,135,700
	215	Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)		10/22 at 100.00		BB		224,776
	855	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/23 – NPFG Insured		No Opt. Call		A		699,253
	1,000	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/28		11/24 at 100.00		A2		1,163,600
	230	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/31 – NPFG Insured		11/24 at 66.52		A		118,717
	500	McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013, 4.000%, 12/01/21		No Opt. Call		B1		512,815
	6,165	Total Texas						6,673,884
		Utah – 1.0%
	935	Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 6/15/22		No Opt. Call		AA		1,077,195
		Vermont – 1.0%
	1,000	Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Series 2016A, 5.000%, 12/01/35		6/26 at 100.00		A–		1,131,290
		Virginia – 0.2%
	185	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012, 5.250%, 1/01/32 (Alternative Minimum Tax)		7/22 at 100.00		BBB		204,521

82 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington – 1.6%
$	500	Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012, 4.000%, 12/01/19 (ETM)		No Opt. Call		N/R (5)	$	531,125
	1,000	Washington State, General Obligation Bonds, Various Purpose Series 2017D, 5.000%, 2/01/29		2/27 at 100.00		AA+		1,224,210
	1,500	Total Washington						1,755,335
		West Virginia – 0.2%
	235	Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 1.625%, 10/01/22 (Mandatory put 10/01/18)		No Opt. Call		A–		236,405
		Wisconsin – 1.3%
	1,015	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian HealthCare, Inc., Series 2013B, 5.000%, 7/01/24		7/23 at 100.00		A		1,179,745
	260	Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 5.250%, 5/01/20		5/19 at 100.00		Aa2		277,446
	1,275	Total Wisconsin						1,457,191
		Wyoming – 0.8%
	755	Consolidated Wyoming Municipalities Electric Power System Joint Powers Board, Wyoming, Electric Facilities Improvement Lease Revenue Bonds, Gillette Electrical System Project, Series 2014A, 5.000%, 6/01/24		No Opt. Call		A+		896,925
$	96,972	Total Long-Term Investments (cost $108,163,245)						111,608,826
Principal Amount (000)		Description (1)	Optional Call Provision (2)		Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 0.9%
		MUNICIPAL BONDS – 0.9%
		Washington – 0.9%
$	1,000	Washington State Health Care Facilities Authority, Variable Rate Demand Obligations, Revenue Bonds, Catholic Health Initiative, Tender Option Bond Floater 2016-XM0424, 1.290%, 2/01/41 (6)		2/21 at 100.00		VMIG-3	$	1,000,000
$	1,000	Total Short-Term Investments (cost $1,000,000)						1,000,000
		Total Investments (cost $109,163,245) – 102.5%						112,608,826
		Other Assets Less Liabilities – (2.5)% (7)						(2,774,607	)
		Net Assets – 100%					$	109,834,219

Investments in Derivatives as of September 30, 2017

Consumer Price Index Swaps (OTC Uncleared)

Counterparty	Notional Amount	Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Effective Date (8)		Maturity Date		Value			Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Citigroup Inc.	$4,000,000		Receive		CPURNSA		2.120	%		Annually		8/22/17		8/22/29	$	29,772		$	484	$	29,288
JP Morgan Chase Bank, N.A.	5,000,000		Receive		CPURNSA		2.600			Annually		2/05/13		2/05/18		(346,377	)		—		(346,377	)
JP Morgan Chase Bank, N.A.	4,000,000		Receive		CPURNSA		2.560			Annually		12/28/12		12/28/18		(315,642	)		—		(315,642	)
JP Morgan Chase Bank, N.A.	3,500,000		Receive		CPURNSA		2.509			Annually		2/08/13		2/08/19		(247,782	)		—		(247,782	)
JP Morgan Chase Bank, N.A.	4,500,000		Receive		CPURNSA		2.645			Annually		12/28/12		12/28/19		(413,359	)		—		(413,359	)
JP Morgan Chase Bank, N.A.	5,500,000		Receive		CPURNSA		2.645			Annually		9/30/13		9/30/21		(492,017	)		—		(492,017	)
JP Morgan Chase Bank, N.A.	8,000,000		Receive		CPURNSA		2.777			Annually		2/19/13		2/19/22		(914,064	)		—		(914,064	)
JP Morgan Chase Bank, N.A.	4,000,000		Receive		CPURNSA		1.953			Annually		6/01/17		6/01/20		(3,461	)		—		(3,461	)

NUVEEN 83

Nuveen Inflation Protected Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Investments in Derivatives as of September 30, 2017(continued)

Consumer Price Index Swaps (OTC Uncleared) (continued)

Counterparty	Notional Amount	Fund Pay/Receive Floating Rate		Floating Rate Index		Fixed Rate (Annualized)			Fixed Rate Payment Frequency		Effective Date (8)		Maturity Date		Value			Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
JP Morgan Chase Bank, N.A.	$5,000,000		Receive		CPURNSA		2.190	%		Annually		1/05/17		1/05/21	$	(53,007	)	$	—	$	(53,007	)
JP Morgan Chase Bank, N.A.	3,500,000		Receive		CPURNSA		1.920			Annually		7/07/17		7/07/21		6,316			—		6,316
JP Morgan Chase Bank, N.A.	5,000,000		Receive		CPURNSA		2.190			Annually		3/02/17		3/02/23		(67,843	)		—		(67,843	)
JP Morgan Chase Bank, N.A.	4,750,000		Receive		CPURNSA		2.228			Annually		2/16/17		2/16/24		(76,516	)		—		(76,516	)
JP Morgan Chase Bank, N.A.	2,000,000		Receive		CPURNSA		2.195			Annually		3/29/17		3/29/25		(32,051	)		—		(32,051	)
JP Morgan Chase Bank, N.A.	4,000,000		Receive		CPURNSA		2.329			Annually		1/30/17		1/30/26		(98,041	)		—		(98,041	)
JP Morgan Chase Bank, N.A.	4,000,000		Receive		CPURNSA		2.270			Annually		3/09/17		3/09/26		(81,949	)		—		(81,949	)
JP Morgan Chase Bank, N.A.	5,500,000		Receive		CPURNSA		2.265			Annually		3/15/17		3/15/26		(112,317	)		—		(112,317	)
JP Morgan Chase Bank, N.A.	2,000,000		Receive		CPURNSA		2.320			Annually		3/29/17		3/29/29		(48,145	)		—		(48,145	)
Morgan Stanley Capital Services LLC	3,800,000		Receive		CPURNSA		2.595			Annually		11/05/13		11/05/18		(248,639	)		—		(248,639	)
Morgan Stanley Capital Services LLC	3,000,000		Receive		CPURNSA		1.970			Annually		4/26/17		4/26/20		(15,150	)		—		(15,150	)
Morgan Stanley Capital Services LLC	3,000,000		Receive		CPURNSA		2.283			Annually		9/15/14		9/15/21		(161,410	)		—		(161,410	)
Morgan Stanley Capital Services LLC	5,000,000		Receive		CPURNSA		2.178			Annually		3/13/17		3/13/23		(68,407	)		—		(68,407	)
Morgan Stanley Capital Services LLC	5,000,000		Receive		CPURNSA		2.205			Annually		1/28/17		1/28/24		(69,892	)		—		(69,892	)
Morgan Stanley Capital Services LLC	3,000,000		Receive		CPURNSA		2.650			Annually		8/07/13		8/07/24		(324,416	)		—		(324,416	)
Morgan Stanley Capital Services LLC	3,000,000		Receive		CPURNSA		2.108			Annually		4/26/17		4/26/25		(25,819	)		—		(25,819	)
Morgan Stanley Capital Services LLC	3,000,000		Receive		CPURNSA		2.310			Annually		1/28/17		1/28/27		(67,065	)		—		(67,065	)
Morgan Stanley Capital Services LLC	4,000,000		Receive		CPURNSA		2.233			Annually		4/19/17		4/19/27		(68,013	)		—		(68,013	)
Morgan Stanley Capital Services LLC	3,500,000		Receive		CPURNSA		2.350			Annually		2/09/17		2/09/29		(88,405	)		—		(88,405	)
Total	$110,550,000														$	(4,403,699	)	$	484	$	(4,404,183	)
Total interest rate swap premiums paid																		$	484
Total interest rate swap premiums received																		$	—
Total unrealized appreciation on credit default swaps																				$	35,604
Total unrealized depreciation on credit default swaps																				$	(4,439,787	)

(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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

(4) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives.

(5) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(6) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

(7) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as presented on the Statement of Assets and Liabilities. The unrealized appreciation (depreciation) of OTC cleared and exchange-traded derivatives is recognized as part of the cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.

(8) Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.

ETM Escrowed to maturity.

CPURNSA US CPI Urban Consumers Non-Seasonally Adjusted

See accompanying notes to financial statements.

84 NUVEEN

Nuveen Intermediate Duration Municipal Bond Fund

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 97.9%
		MUNICIPAL BONDS – 97.6%
		Alabama – 2.0%
$	7,630	Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A, 5.000%, 10/01/31 – AGM Insured (Alternative Minimum Tax)		10/27 at 100.00		AA	$	8,911,840
	31,725	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016A, 4.000%, 7/01/46 (Mandatory put 6/01/21)		3/21 at 100.59		A1		34,317,884
	27,715	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47		4/22 at 100.52		A1		30,559,390
	1,130	Huntsville, Alabama, Electric System Revenue Warrants, Refunding Series 2007, 4.000%, 12/01/18 (Pre-refunded 12/01/17) – AGM Insured		12/17 at 100.00		Aa1 (4)		1,136,260
	2,685	Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.000%, 4/15/27		4/25 at 100.00		N/R		2,801,422
	795	Mobile, Alabama, General Obligation Warrants, Refunding & Improvement Series 2008B, 5.000%, 2/15/20		2/18 at 100.00		Aa2		807,068
	1,205	Mobile, Alabama, General Obligation Warrants, Refunding & Improvement Series 2008B, 5.000%, 2/15/20 (Pre-refunded 2/15/18)		2/18 at 100.00		N/R (4)		1,223,690
		Montgomery Medical Clinic Board, Alabama, Health Care Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015:
	2,080	5.000%, 3/01/23		No Opt. Call		BBB		2,365,917
	3,555	5.000%, 3/01/24		No Opt. Call		BBB		4,099,057
	2,235	5.000%, 3/01/25		No Opt. Call		BBB		2,601,026
	1,725	5.000%, 3/01/26		No Opt. Call		BBB		2,014,334
	1,000	The Improvement District of the City of Mobile – McGowin Park Project, Alabama, Sales Tax Revenue Bonds, Series 2016A, 5.000%, 8/01/25		No Opt. Call		N/R		1,056,510
	1,500	University of Alabama, Birmingham, Hospital Revenue Bonds, Birmingham Hospital, Series 2008A, 5.000%, 9/01/18 (ETM)		No Opt. Call		A1 (4)		1,556,100
	4,000	University of Alabama, Birmingham, Hospital Revenue Bonds, Birmingham Hospital, Series 2008A, 5.750%, 9/01/22 (Pre-refunded 9/01/18)		9/18 at 100.00		A1 (4)		4,177,120
	8,100	University of Alabama, Tuscaloosa, General Revenue Bonds, Series 2017B, 3.000%, 7/01/36		7/27 at 100.00		AA		7,794,549
	97,080	Total Alabama						105,422,167
		Alaska – 0.2%
	3,000	Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/21		4/20 at 100.00		A1		3,283,680
	6,025	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32		12/17 at 100.00		B3		5,920,165
	5,065	Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc. Project, Refunding Series 2003B, 5.000%, 1/01/21		No Opt. Call		A1		5,620,985
	14,090	Total Alaska						14,824,830
		Arizona – 2.5%
	4,120	Arizona Board of Regents, Certificates of Participation, University of Arizona Projects, Refunding Series 2007B, 4.500%, 6/01/18 – AMBAC Insured		12/17 at 100.00		Aa3		4,131,577

NUVEEN 85

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
		Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A:
$	1,235	5.000%, 2/01/20		No Opt. Call		BBB+	$	1,329,255
	6,255	5.000%, 2/01/27		2/22 at 100.00		BBB+		6,859,296
		Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A:
	10,270	5.000%, 7/01/25		7/22 at 100.00		A1		11,428,969
	16,235	5.000%, 7/01/26		7/22 at 100.00		A1		17,986,107
	16,760	5.000%, 7/01/27		7/22 at 100.00		A1		18,480,917
		Arizona State, State Lottery Revenue Bonds, Series 2010A:
	55	5.000%, 7/01/18 – AGM Insured		No Opt. Call		AA		56,668
	5,165	5.000%, 7/01/19 – AGM Insured		No Opt. Call		AA		5,517,924
	5,015	5.000%, 7/01/20 – AGM Insured		No Opt. Call		AA		5,535,707
	6,130	5.000%, 7/01/21 – AGM Insured		1/20 at 100.00		AA		6,650,989
	7,500	5.000%, 7/01/22 – AGM Insured		1/20 at 100.00		AA		8,135,700
	6,000	Gilbert Public Facilities Municipal Property Corporation, Arizona, Revenue Bonds, Series 2009, 5.500%, 7/01/27		7/19 at 100.00		AA+		6,456,000
	2,000	Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2007, 5.000%, 5/15/26		5/22 at 100.00		A		2,226,720
	1,355	Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/21		5/20 at 100.00		A+		1,481,245
		Northern Arizona University, System Revenue Bonds, Refunding Series 2014:
	385	5.000%, 6/01/22		No Opt. Call		A+		441,861
	500	5.000%, 6/01/23		No Opt. Call		A+		584,725
		Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A:
	2,045	5.000%, 7/01/22		7/20 at 100.00		A+		2,248,539
	10,400	5.000%, 7/01/40		7/20 at 100.00		A+		11,358,152
	520	Phoenix Civic Improvement Corporation, Arizona, Water System Revenue Bonds, Junior Lien Series 2014A, 5.000%, 7/01/23		No Opt. Call		AAA		617,313
	2,650	Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company Project, Series 2013A, 4.000%, 9/01/29		3/23 at 100.00		A–		2,793,868
	2,670	Pima County, Arizona, Sewer Revenue Bonds, Series 2010, 5.000%, 7/01/24 (Pre-refunded 7/01/20) – AGM Insured		7/20 at 100.00		AA (4)		2,951,044
	645	Regional Public Transportation Authority, Arizona, Transportation Excise Tax Revenue Bonds, Maricopa County Public Transportation Fund Series 2014, 5.250%, 7/01/23		No Opt. Call		AA+		773,755
	3,000	Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2009A, 5.000%, 1/01/25		1/19 at 100.00		Aa1		3,148,140
	3,925	Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Tender Option Bond Trust 2015-XF2192, 11.735%, 12/01/24 (IF) (5)		12/21 at 100.00		AA		5,652,353
	1,000	Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2008A, 5.000%, 9/01/20		9/18 at 100.00		A2		1,035,460
	1,350	Sedona-Oak Creek Joint Unified School District 9, Coconino and Yavapi Counties, Arizona, General Obligation Bonds, School Improvement Project 2007, Series 2009B, 5.375%, 7/01/28 (Pre-refunded 7/01/19)		7/19 at 100.00		Aa2 (4)		1,452,748

86 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	4,850	The Industrial Development Authority of the City of Phoenix, Arizona Education Facility Revenue Bonds, Legacy Traditional Schools East Mesa and Cadence (Nevada) Campuses, Series 2017A, 4.000%, 7/01/22		7/19 at 101.00		N/R	$	4,791,849
	122,035	Total Arizona						134,126,881
		Arkansas – 0.8%
	1,000	Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Series 2013, 5.000%, 12/01/33		12/23 at 100.00		A1		1,145,210
	1,490	Conway, Arkansas, Restaurant Gross Receipts Tax Revenue Bonds, Series 2007, 5.000%, 12/01/22 – AGM Insured		11/17 at 100.00		AA		1,494,947
		Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds, Series 2006A:
	6,730	5.000%, 11/01/17 – AGM Insured		10/17 at 100.00		AA		6,752,949
	4,965	4.500%, 11/01/19 – AGM Insured		12/17 at 100.00		AA		4,979,150
	4,540	Independence County, Arkansas, Pollution Control Revenue Bonds, Arkansas Power and Light Company Project, Series 2013, 2.375%, 1/01/21		No Opt. Call		A		4,678,879
		Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014:
	500	5.000%, 7/01/22		No Opt. Call		A+		575,810
	800	5.000%, 7/01/23		No Opt. Call		A+		938,408
	1,610	5.000%, 7/01/26		7/24 at 100.00		A+		1,909,299
	1,485	5.000%, 7/01/28		7/24 at 100.00		A+		1,742,113
	1,935	5.000%, 7/01/29		7/24 at 100.00		A+		2,257,487
	1,000	5.000%, 7/01/30		7/24 at 100.00		A+		1,164,280
	4,585	5.000%, 7/01/34		7/24 at 100.00		A+		5,293,245
		Magnolia, Arkansas, Sales and Use Tax Revenue Bonds, Series 2007:
	575	5.000%, 8/01/21 – CIFG Insured		12/17 at 100.00		AA		576,541
	1,130	5.000%, 8/01/22 – CIFG Insured		12/17 at 100.00		AA		1,132,859
	1,185	5.000%, 8/01/23 – CIFG Insured		12/17 at 100.00		AA		1,187,856
	1,245	5.000%, 8/01/24 – CIFG Insured		12/17 at 100.00		AA		1,247,888
	1,000	North Little Rock Health Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 1996B, 5.750%, 12/01/21 (Pre-refunded 12/01/18)		12/18 at 100.00		A+ (4)		1,055,020
		Pulaski County Public Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 2014:
	2,125	5.000%, 12/01/25		12/24 at 100.00		A+		2,508,690
	1,780	5.000%, 12/01/27		12/24 at 100.00		A+		2,063,910
	1,000	University of Arkansas, Various Facilities Revenue Bonds, UAMS Campus, Series 2014A, 5.000%, 3/01/21		No Opt. Call		Aa2		1,127,880
	40,680	Total Arkansas						43,832,421
		California – 6.0%
	1,525	ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, Children’s Hospital & Research Center at Oakland, Refunding Series 2007A, 4.500%, 12/01/18 (Pre-refunded 12/01/17)		12/17 at 100.00		N/R (4)		1,534,760
	1,565	ABC Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2003A, 4.900%, 2/01/20 – NPFG Insured		No Opt. Call		A+		1,700,466
	1,860	Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 10/01/23		No Opt. Call		A		2,215,744
	920	Apple Valley Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2 Series 2007, 4.500%, 6/01/18 – AMBAC Insured		12/17 at 100.00		BBB+		922,355

NUVEEN 87

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	1,670	Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Subordinate Fixed Rate Series 2017S-7, 3.250%, 4/01/36		4/27 at 100.00		AA	$	1,638,053
		California Department of Water Resources, Power Supply Revenue Bonds, Refunding Series 2008H:
	1,270	5.000%, 5/01/22 (Pre-refunded 5/01/18) – AGM Insured		5/18 at 100.00		Aa1 (4)		1,301,648
	580	5.000%, 5/01/22 (Pre-refunded 5/01/18) – AGM Insured		5/18 at 100.00		Aa1 (4)		594,454
	8,105	California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Refunding Series 2016A, 3.000%, 3/01/39		3/26 at 100.00		A		7,326,515
	515	California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Series 2009C, 5.125%, 3/01/20		3/19 at 100.00		A		543,804
		California Health Facilities Financing Authority, Revenue Bonds, Children’s Hospital Los Angeles, Series 2017A:
	1,200	5.000%, 8/15/35		8/27 at 100.00		BBB+		1,372,908
	1,845	5.000%, 8/15/36		8/27 at 100.00		BBB+		2,102,488
	2,330	California Health Facilities Financing Authority, Revenue Bonds, Children’s Hospital of Orange County, Series 2009A, 5.750%, 11/01/18		No Opt. Call		A+		2,389,834
	2,560	California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2016B-3, 2.000%, 10/01/36 (Mandatory put 10/01/25)		10/25 at 100.00		AA–		2,522,598
	3,530	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2015B-2, 3.125%, 11/01/40 (Mandatory put 11/03/25) (Alternative Minimum Tax)		No Opt. Call		A–		3,641,583
	16,835	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2015A-1, 3.375%, 7/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		18,100,992
	12,305	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management, Inc. Project, Refunding Series 2015B-1, 3.000%, 11/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		12,928,002
	2,245	California State Public Works Board, Lease Revenue Bonds, California State University Monterey Bay Campus Library Project, Series 2009D, 6.000%, 4/01/25 (Pre-refunded 4/01/19)		4/19 at 100.00		Aaa		2,415,844
	1,400	California State Public Works Board, Lease Revenue Bonds, California State University, Various University Projects, Series 2010B-1, 5.375%, 3/01/25		3/20 at 100.00		Aa3		1,536,710
	5,000	California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.250%, 10/01/24 (Pre-refunded 10/01/19)		10/19 at 100.00		Aaa		5,427,650
		California State, Economic Recovery Revenue Bonds, Refunding Series 2009A:
	2,070	5.000%, 7/01/20 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		2,217,094
	3,830	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		4,118,782
	2,195	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		2,360,503
	15	California State, General Obligation Bonds, Various Purpose Series 2001, 5.000%, 11/01/18		12/17 at 100.00		AA–		15,053
	1,000	California State, General Obligation Bonds, Various Purpose Series 2007, 5.000%, 12/01/23 (Pre-refunded 12/01/17)		12/17 at 100.00		Aaa		1,007,440
	1,450	California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.250%, 12/01/29		12/24 at 100.00		BB+		1,642,067
	800	California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/25		7/24 at 100.00		A–		950,952
	1,000	California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, Henry Mayo Newhall Memorial Hospital, Series 2007B, 5.200%, 10/01/37 (Pre-refunded 10/01/18) – AMBAC Insured		10/18 at 100.00		AA– (4)		1,043,770

88 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	705	California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G, 5.000%, 7/01/22 (6)		12/17 at 100.00		CCC	$	704,062
		Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Capital Appreciation Series 2011A:
	7,475	0.000%, 11/01/26		11/21 at 66.91		BBB+		4,462,425
	4,095	0.000%, 11/01/28		11/21 at 56.33		BBB+		2,049,752
		Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012:
	2,725	5.000%, 1/01/22		No Opt. Call		BBB		2,972,975
	2,860	5.000%, 1/01/23		No Opt. Call		BBB		3,153,636
	1,635	5.000%, 1/01/24		1/23 at 100.00		BBB		1,792,827
	1,325	5.000%, 1/01/25		1/23 at 100.00		BBB		1,438,804
		Desert Sands Unified School District, Riverside County, California, General Obligation Bonds, Election 2001, Series 2008:
	510	5.250%, 8/01/23 (Pre-refunded 8/01/18)		8/18 at 100.00		Aa2 (4)		528,987
	2,025	5.000%, 8/01/24 (Pre-refunded 8/01/18)		8/18 at 100.00		Aa2 (4)		2,096,179
	2,100	Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 4.550%, 6/01/22 – AGM Insured		6/18 at 100.00		AA		2,147,943
	19,000	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.000%, 6/01/33		12/17 at 100.00		B+		18,979,100
	1,300	Grant Joint Union High School District, Sacramento County, California, General Obligation Bonds, Capital Appreciation Election 2006 Series 2008, 0.000%, 8/01/26 – AGM Insured		No Opt. Call		A1		1,038,401
		Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C:
	1,000	5.000%, 9/01/30		9/24 at 100.00		N/R		1,128,590
	1,015	5.000%, 9/01/32		9/24 at 100.00		N/R		1,132,943
	465	5.000%, 9/01/34		9/24 at 100.00		N/R		514,969
	5,745	Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 90-2, Series 2007A, 4.500%, 10/01/24 – AGM Insured		10/17 at 100.00		AA		5,760,684
	2,015	Las Virgenes Unified School District, Los Angeles County, California, General Obligation Bonds, 2006 Election, Series 2009B, 0.000%, 8/01/27		No Opt. Call		Aa1		1,569,121
	845	Long Beach Financing Authority, California, Revenue Bonds, Series 1992, 6.000%, 11/01/17 – AMBAC Insured		No Opt. Call		N/R		848,076
		Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2014B:
	1,015	5.000%, 7/01/25		1/24 at 100.00		Aa2		1,217,310
	5,000	5.000%, 7/01/43		1/24 at 100.00		Aa2		5,719,550
		Los Angeles, California, Special Tax Bonds, Community Facilities District 4, Playa Vista Phase I, Series 2014:
	1,075	5.000%, 9/01/24		No Opt. Call		BBB+		1,288,624
	1,250	5.000%, 9/01/25		9/24 at 100.00		BBB+		1,476,200
	1,000	5.000%, 9/01/26		9/24 at 100.00		BBB+		1,169,290
		Menifee Union School District Public Financing Authority, California, Special Tax Revenue Bonds, Series 2016A:
	400	5.000%, 9/01/29 – BAM Insured		9/25 at 100.00		AA		476,100
	630	5.000%, 9/01/30 – BAM Insured		9/25 at 100.00		AA		746,859
	4,770	Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/28 (7)		2/28 at 100.00		Aa1		4,590,028

NUVEEN 89

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	12,205	M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A, 6.125%, 11/01/29		No Opt. Call		A	$	15,506,697
	10,265	M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.125%, 11/01/29		No Opt. Call		A		13,041,888
	2,000	North Monterey County Unified School District, California, General Obligation Bonds, Election of 2013, Series 2014A, 4.000%, 5/01/44		5/24 at 100.00		A+		2,070,260
	855	Northern Inyo County Local Hospital District, Inyo County, California, Revenue Bonds, Series 2010, 6.000%, 12/01/21		12/20 at 100.00		BB		910,532
	8,000	Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40 (7)		8/30 at 100.00		A		9,158,160
		Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A:
	1,815	0.000%, 8/01/21 – AGC Insured		No Opt. Call		AA		1,701,327
	2,095	0.000%, 8/01/22 – AGC Insured		No Opt. Call		AA		1,911,667
	4,085	0.000%, 8/01/23 – AGC Insured		No Opt. Call		AA		3,607,913
	7,000	Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Refunding Series 2011, 6.000%, 10/01/25 – AGM Insured		10/21 at 100.00		AA		8,223,110
		Port of Oakland, California, Revenue Bonds, Refunding Inter Lien Series 2007B:
	2,530	5.000%, 11/01/18 (Pre-refunded 11/01/17) – NPFG Insured		11/17 at 100.00		A (4)		2,539,538
	1,230	5.000%, 11/01/19 (Pre-refunded 11/01/17) – NPFG Insured		11/17 at 100.00		A (4)		1,234,637
	5,350	Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Series 2011A, 0.000%, 8/01/34		No Opt. Call		AA–		3,007,502
	2,410	Riverside County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Refunding Series 2014A, 4.000%, 10/01/37 – AGM Insured		10/24 at 100.00		AA		2,522,426
		Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B:
	2,115	0.000%, 10/01/34		No Opt. Call		A		1,122,536
	2,000	0.000%, 10/01/36		No Opt. Call		A		967,080
	5,000	Sacramento County, California, Airport System Revenue Bonds, Senior Lien Series 2010, 5.000%, 7/01/40		7/20 at 100.00		A		5,440,800
	1,000	San Bernardino Community College District, California, General Obligation Bonds, Election 2002 Series 2008A, 6.500%, 8/01/27 (Pre-refunded 8/01/18)		8/18 at 100.00		Aa2 (4)		1,048,180
		San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:
	5,000	5.000%, 1/15/29		1/25 at 100.00		BBB		5,627,900
	26,000	5.000%, 1/15/34		1/25 at 100.00		BBB		28,843,360
	2,770	San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Refunding Series 2006D, 5.000%, 8/01/23 – AMBAC Insured		12/17 at 100.00		A+		2,779,252
	2,250	Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A, 6.250%, 7/01/24		No Opt. Call		A		2,740,095
	2,255	Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A, 6.250%, 7/01/24 – NPFG Insured (ETM)		No Opt. Call		A (4)		2,729,520
	1,000	Santa Ana Unified School District, Orange County, California, General Obligation Bonds, Series 2008A, 5.250%, 8/01/28		8/18 at 100.00		Aa3		1,035,580
	35	Santa Monica-Malibu Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2012 Series 2017C, 3.125%, 7/01/42		7/27 at 100.00		AA		33,796

90 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		Santa Paula Utility Authority, California, Water Enterprise Revenue Bonds, Refunding Series 2010:
$	2,510	5.000%, 2/01/28		2/20 at 100.00		A+	$	2,710,097
	2,630	5.000%, 2/01/29		2/20 at 100.00		A+		2,834,614
	2,765	5.000%, 2/01/30		2/20 at 100.00		A+		2,979,453
		South Bayside Waste Management Authority, California, Solida Waste Enterprise Revenue Bonds, Shoreway Environmental Center, Series 2009A:
	2,500	5.250%, 9/01/24		9/19 at 100.00		A1		2,691,800
	1,200	6.250%, 9/01/29		9/19 at 100.00		A1		1,315,920
		Tulare Local Health Care District, California, General Obligation Bonds, Series 2009B-1:
	1,180	6.000%, 8/01/22		8/19 at 100.00		Ba2		1,266,069
	1,410	6.125%, 8/01/23		8/19 at 100.00		Ba2		1,512,338
	1,585	6.250%, 8/01/24		8/19 at 100.00		Ba2		1,699,960
	1,265	6.375%, 8/01/25		8/19 at 100.00		Ba2		1,356,738
	500	6.500%, 8/01/26		8/19 at 100.00		Ba2		536,375
		University of California, General Revenue Bonds, Limited Project Series 2017M:
	3,000	5.000%, 5/15/29		5/27 at 100.00		AA–		3,711,750
	3,000	5.000%, 5/15/30		5/27 at 100.00		AA–		3,678,150
	5,000	5.000%, 5/15/31		5/27 at 100.00		AA–		6,077,900
	2,030	Victor Elementary School District, San Bernardino County, California, General Obligation Bonds, Series 2002A, 0.000%, 8/01/23 – FGIC Insured		No Opt. Call		Aa3		1,814,658
	3,000	Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured (7)		8/26 at 100.00		AA		3,303,210
		Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A:
	1,540	5.000%, 7/01/24		No Opt. Call		Baa1		1,776,867
	1,415	5.000%, 7/01/25		No Opt. Call		Baa1		1,641,343
	1,450	3.250%, 7/01/27		7/25 at 100.00		Baa1		1,472,896
	1,435	3.500%, 7/01/28		7/25 at 100.00		Baa1		1,473,759
	1,355	3.750%, 7/01/29		7/25 at 100.00		Baa1		1,407,682
	2,500	West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2008B, 6.000%, 8/01/25		No Opt. Call		AA–		3,251,650
	995	Whittier Public Financing Authority, California, Tax Allocation Revenue Bonds, Whittier Redevelopment Agency, Series 2007A, 5.000%, 11/01/21 (Pre-refunded 11/01/17) – AMBAC Insured		11/17 at 100.00		A– (4)		998,781
	305,130	Total California						319,891,270
		Colorado – 2.2%
	1,125	Adams and Arapahoe Counties Joint School District 28J, Aurora, Colorado, General Obligation Bonds, Series 2008, 5.500%, 12/01/21 (Pre-refunded 12/01/18)		12/18 at 100.00		Aa2 (4)		1,185,098
	9,355	Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 5.000%, 12/01/29		12/22 at 103.00		N/R		10,092,922
	1,705	Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016, 3.125%, 10/01/31		10/25 at 100.00		Baa2		1,594,857
	1,000	Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003B, 6.000%, 5/15/26 (Pre-refunded 5/15/19) – AGM Insured		5/19 at 100.00		AA (4)		1,080,350
	16,795	Colorado Health Facilities Authority, Colorado, Hospital Revenue Bonds, Parkview Medical Center, Series 2016, 3.125%, 9/01/42		9/26 at 100.00		A3		14,634,323

NUVEEN 91

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A:
$	16,830	5.000%, 9/01/26		12/17 at 100.00		BBB+	$	16,883,856
	65	4.500%, 9/01/38		12/17 at 100.00		BBB+		65,179
	725	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006C-7, 4.350%, 9/01/20 (Pre-refunded 5/01/18) – AGM Insured		5/18 at 100.00		AA (4)		739,667
	1,525	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 5.125%, 10/01/17		No Opt. Call		BBB+		1,525,336
	4,045	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009B-1, 5.000%, 7/01/29		11/22 at 100.00		BBB+		4,411,396
	1,920	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/18		No Opt. Call		BBB+		1,943,846
	335	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.500%, 6/01/33		6/23 at 100.00		BBB		380,614
	1,145	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Long-Term Care National Obligated Group Project, Series 2010A, 5.250%, 11/15/20 (ETM)		No Opt. Call		N/R (4)		1,214,066
	10,000	Colorado Health Facilities Authority, Retirement Facilities Revenue Bonds, Liberty Heights, Series 1990B, 0.000%, 7/15/20 (ETM)		No Opt. Call		AA+ (4)		9,608,800
	1,510	Colorado State Higher Education Capital Construction Lease Purchase Financing Program Certificates of Participation, Series 2008, 5.250%, 11/01/23 (Pre-refunded 11/01/18)		11/18 at 100.00		Aa2 (4)		1,580,321
	1,500	Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010, 5.500%, 9/01/25		3/20 at 100.00		BBB–		1,550,820
	11,000	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32		11/22 at 100.00		A+		12,561,560
	10,670	Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc. Project, Refunding Series 2017, 5.000%, 10/01/32 (Alternative Minimum Tax)		10/23 at 100.00		BB–		11,633,288
	10,000	E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 3/01/36 – NPFG Insured		9/20 at 41.72		A		3,777,400
		El Paso County School District 20, Academy, Colorado, General Obligation Bonds, Refunding Series 2010:
	1,525	5.000%, 12/15/20		No Opt. Call		Aa2		1,707,207
	2,215	5.000%, 12/15/21		No Opt. Call		Aa2		2,546,320
	1,530	5.000%, 12/15/22		12/21 at 100.00		Aa2		1,756,838
	3,670	Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A, 5.125%, 12/01/31		12/21 at 103.00		N/R		3,596,600
	760	Montrose, Colorado, Enterprise Revenue Bonds, Montrose Memorial Hospital, Series 2003, 5.700%, 12/01/17		6/17 at 100.00		BBB–		762,804
		Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013:
	1,335	5.000%, 12/01/19		No Opt. Call		N/R		1,401,042
	500	5.000%, 12/01/20		No Opt. Call		N/R		533,305
	1,000	Pueblo County School District 60, Pueblo, Colorado, General Obligation Bonds, Refunding Series 2009, 5.000%, 12/15/22		No Opt. Call		Aa2		1,172,890
	1,325	Rangeview Library District, Adams County, Colorado, Certificates of Participation, Rangeview Library Projects, Series 2008, 4.500%, 12/15/20 (Pre-refunded 12/15/18) – AGC Insured		12/18 at 100.00		AA (4)		1,380,385

92 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	975	Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.000%, 1/15/41		7/20 at 100.00		BBB+	$	1,069,692
		Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2010A:
	2,190	4.250%, 12/01/23		12/20 at 100.00		A		2,367,346
	2,030	4.000%, 12/01/24		12/20 at 100.00		A		2,169,116
	1,000	Spring Mesa Metropolitan District, Jefferson County, Colorado, General Obligation Bonds, Refunding Series 2015, 3.750%, 12/01/44 – AGM Insured		12/25 at 100.00		AA		967,920
	1,000	Walker Field Public Airport Authority, Colorado, Airport Revenue Bonds, Series 2007, 5.000%, 12/01/22 (Pre-refunded 12/01/17)		12/17 at 100.00		Baa2 (4)		1,007,260
	1,240	Westminster, Colorado, Special Purpose Sales and Use Tax Revenue Bonds, Series 2007D, 5.000%, 12/01/23 (Pre-refunded 12/01/17) – AGM Insured		12/17 at 100.00		AA (4)		1,249,027
	123,545	Total Colorado						120,151,451
		Connecticut – 0.6%
	500	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, TEMPS-50 Series 2016B-2, 2.875%, 9/01/20		12/17 at 100.00		N/R		497,840
	14,140	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U1, 1.000%, 7/01/33 (Mandatory put 2/06/19)		No Opt. Call		AAA		14,118,366
	12,070	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U2, 1.000%, 7/01/33 (Mandatory put 2/06/19)		No Opt. Call		AAA		12,051,533
	2,070	Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (Alternative Minimum Tax)		1/18 at 100.00		A–		2,076,417
	1,000	New Britain, Connecticut, General Obligation Bonds, Refunding Series 2016A, 5.000%, 3/01/19 – BAM Insured (ETM)		No Opt. Call		AA (4)		1,056,440
		Stratford, Connecticut, General Obligation Bonds, Series 2014:
	350	5.000%, 12/15/24		12/22 at 100.00		AA		408,244
	495	5.000%, 12/15/26		12/22 at 100.00		AA		569,062
	30,625	Total Connecticut						30,777,902
		Delaware – 0.1%
		Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013:
	1,000	4.000%, 7/01/22		No Opt. Call		BBB		1,057,640
	3,995	5.000%, 7/01/28		7/23 at 100.00		BBB		4,316,637
	4,995	Total Delaware						5,374,277
		District of Columbia – 2.5%
	3,880	District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/30		10/22 at 100.00		BB+		4,011,726
	6,710	District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33		No Opt. Call		Baa1		7,538,014
	154,565	District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46		12/17 at 100.00		N/R		22,568,036
	10,165	District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Series 1998, 5.500%, 10/01/18 – AGM Insured		No Opt. Call		AAA		10,627,304

NUVEEN 93

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		District of Columbia (continued)
		District of Columbia, Hospital Revenue Bonds, Sibley Memorial Hospital, Series 2009:
$	420	6.500%, 10/01/20 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)	$	465,352
	1,715	6.500%, 10/01/23 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		1,900,186
	825	6.500%, 10/01/24 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		914,084
	3,740	District of Columbia, Revenue Bonds, The Catholic University of America, Series 2010, 5.000%, 10/01/23		10/18 at 100.00		A		3,884,514
		Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2016A:
	44,660	5.000%, 10/01/31 (Alternative Minimum Tax)		10/26 at 100.00		AA–		52,627,344
	24,280	5.000%, 10/01/32 (Alternative Minimum Tax)		10/26 at 100.00		AA–		28,463,687
	250,960	Total District of Columbia						133,000,247
		Florida – 5.5%
	12,505	Broward County School Board, Florida, Certificates of Participation, Series 2015A, 5.000%, 7/01/25		No Opt. Call		Aa3		15,157,686
		Broward County, Florida, Airport System Revenue Bonds, Series 2015A:
	10,000	5.000%, 10/01/34 (Alternative Minimum Tax)		10/25 at 100.00		A+		11,345,500
	15,135	5.000%, 10/01/35 (Alternative Minimum Tax)		10/25 at 100.00		A+		17,125,555
		Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017:
	990	2.250%, 9/01/23 – AGM Insured		No Opt. Call		AA		1,011,265
	1,490	2.500%, 9/01/24 – AGM Insured		No Opt. Call		AA		1,518,846
	1,425	2.750%, 9/01/25 – AGM Insured		No Opt. Call		AA		1,458,730
	990	2.750%, 9/01/26 – AGM Insured		No Opt. Call		AA		1,000,326
	745	3.000%, 9/01/27 – AGM Insured		No Opt. Call		AA		757,382
		Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2015:
	9,685	5.000%, 10/01/32		10/25 at 100.00		A1		11,286,705
	7,325	5.000%, 10/01/33		10/25 at 100.00		A1		8,496,341
		Citizens Property Insurance Corporation, Florida, Coastal Account Senior Secured Bonds, Series 2015A-1:
	16,445	5.000%, 6/01/22		12/21 at 100.00		AA		18,769,665
	14,635	5.000%, 6/01/25		12/24 at 100.00		AA		17,504,484
		Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1:
	4,595	5.000%, 6/01/18		No Opt. Call		AA		4,716,262
	275	5.000%, 6/01/19		No Opt. Call		AA		292,520
		Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1:
	85	5.000%, 6/01/18		No Opt. Call		AA		87,243
	370	5.000%, 6/01/19		No Opt. Call		AA		393,573
	4,545	5.000%, 6/01/20		No Opt. Call		AA		4,990,001
	1,600	5.000%, 6/01/21		No Opt. Call		AA		1,804,832
		City of Orlando, Florida, Senior Tourist Development Tax Refunding Revenue Bonds, 6th Cent Contract Payments, Series 2017A:
	4,000	5.000%, 11/01/32 – AGM Insured		11/27 at 100.00		AA		4,707,120
	2,000	5.000%, 11/01/33 – AGM Insured		11/27 at 100.00		AA		2,338,340

94 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013:
$	2,925	4.750%, 11/01/23		No Opt. Call		BBB–	$	3,079,557
	1,860	6.000%, 11/01/33		11/23 at 100.00		BBB–		2,097,727
	1,890	Dade County Housing Finance Authority, Florida, Multifamily Mortgage Revenue Bonds, Siesta Pointe Apartments Project, Series 1997A, 5.750%, 9/01/29 – AGM Insured (Alternative Minimum Tax)		3/18 at 100.00		AA+		1,903,721
	1,000	Davie, Florida, Educational Facilities Revenue Bonds, Nova Southeastern University Project, Refunding Series 2013A, 6.000%, 4/01/42		4/23 at 100.00		A–		1,158,900
	1,000	Escambia County, Florida, Pollution Control Revenue Bonds, Gulf Power Company, Refunding Series 1997, 2.100%, 7/01/22 (Mandatory put 4/11/19)		No Opt. Call		A2		1,009,030
	370	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A, 5.000%, 6/15/27		6/26 at 100.00		N/R		378,632
	3,275	Florida Governmental Utility Authority, Utility Revenue Bonds, Lake Aqua Utility System, Series 2013A, 4.250%, 10/01/33		10/22 at 100.00		A–		3,392,965
	2,700	Florida Governmental Utility Authority, Utility Revenue Bonds, Pasco Aqua Utility System, Series 2013A, 4.250%, 10/01/33		10/22 at 100.00		A3		2,788,479
		Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2016:
	1,250	5.000%, 4/01/32		4/26 at 100.00		A–		1,434,425
	1,750	5.000%, 4/01/33		4/26 at 100.00		A–		1,995,525
	1,500	5.000%, 4/01/34		4/26 at 100.00		A–		1,703,250
	1,500	5.000%, 4/01/35		4/26 at 100.00		A–		1,699,665
		Florida Municipal Power Agency, Power Supply Revenue Bonds, All Requirements Project, Refunding Series 2016A:
	12,000	5.000%, 10/01/30		10/26 at 100.00		A+		14,365,680
	8,045	5.000%, 10/01/31		10/26 at 100.00		A+		9,600,581
	1,500	Florida State Department of Children and Families, Certificates of Participation, South Florida Evaluation Treatment Project, Series 2005, 5.000%, 10/01/25		12/17 at 100.00		AA+		1,504,905
	2,240	Jacksonville, Florida, Capital Improvement Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/20		No Opt. Call		AA		2,486,310
	1,940	Jacksonville, Florida, Special Revenue Bonds, Series 20120C, 5.000%, 10/01/24		10/22 at 100.00		AA–		2,255,832
	7,005	Lee County, Florida, Airport Revenue Bonds, Refunding Series 2011A, 5.375%, 10/01/32 – AGM Insured (Alternative Minimum Tax)		8/21 at 100.00		AA		7,840,416
	6,000	Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2015A, 5.000%, 4/01/35		4/25 at 100.00		A–		6,775,320
		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2014B:
	2,415	5.000%, 7/01/24		No Opt. Call		A		2,867,281
	1,250	5.000%, 7/01/27		7/24 at 100.00		A		1,470,300
		Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A:
	925	5.000%, 10/01/20 (Alternative Minimum Tax)		No Opt. Call		A		1,023,244
	5,015	5.000%, 10/01/22 (Alternative Minimum Tax)		No Opt. Call		A		5,775,976
	6,290	Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/41		10/20 at 100.00		A		6,792,319

NUVEEN 95

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition, Series 2010E:
$	1,975	5.000%, 4/01/21		4/20 at 100.00		AA–	$	2,155,337
	5,015	5.250%, 4/01/30		4/20 at 100.00		AA–		5,457,624
	5,000	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/29 – AGM Insured		10/20 at 100.00		AA		5,526,400
	605	North Brevard County Hospital District, Florida, Revenue Bonds, Parrish Medical Center Project, Refunding Series 2008, 5.500%, 10/01/28		10/18 at 100.00		BBB		627,930
	1,495	North Brevard County Hospital District, Florida, Revenue Bonds, Parrish Medical Center Project, Refunding Series 2008, 5.500%, 10/01/28 (Pre-refunded 10/01/18)		10/18 at 100.00		BBB (4)		1,563,845
	2,525	Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/31		12/24 at 100.00		BBB+		2,795,352
	4,235	Palm Beach County School Board, Florida, Certificates of Participation, Series 2014B, 5.000%, 8/01/22		No Opt. Call		Aa3		4,926,957
	175	Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/25 (Pre-refunded 10/01/21)		10/21 at 100.00		N/R (4)		200,708
	9,825	Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/25		10/21 at 100.00		AA+		11,167,193
	3,860	South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2016, 2.750%, 5/01/31		5/26 at 100.00		AA		3,563,822
	4,810	South Florida Water Management District, Certificates of Participation, Series 2015, 5.000%, 10/01/33		4/26 at 100.00		AA		5,598,070
	23,190	South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Refunding Series 2007, 5.000%, 8/15/27		12/17 at 100.00		AA–		23,266,759
		Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A:
	585	5.000%, 9/01/22		No Opt. Call		A+		675,078
	2,600	5.000%, 9/01/23		9/22 at 100.00		A+		2,982,252
	1,245	3.125%, 9/01/24		9/22 at 100.00		A+		1,307,736
	1,290	5.000%, 9/01/25		9/22 at 100.00		A+		1,475,515
	1,500	5.000%, 9/01/27		9/22 at 100.00		A+		1,699,635
	1,980	5.000%, 9/01/28		9/22 at 100.00		A+		2,235,598
	5,760	4.000%, 9/01/33		9/22 at 100.00		A+		5,998,406
	350	Vero Beach, Florida, Electric Refunding Revenue Bonds, Series 2003A, 4.000%, 12/01/19 – AGM Insured		12/18 at 100.00		A1		361,057
	262,505	Total Florida						293,747,690
		Georgia – 1.2%
		Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2012B:
	2,095	5.000%, 1/01/23		1/22 at 100.00		AA–		2,413,922
	1,500	5.000%, 1/01/28		1/22 at 100.00		AA–		1,697,070
		Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Refunding Subordinate Lien Series 2014A:
	11,070	5.000%, 1/01/27		1/24 at 100.00		AA–		13,170,975
	4,280	5.000%, 1/01/29		1/24 at 100.00		AA–		5,047,875
	6,750	5.000%, 1/01/30		1/24 at 100.00		AA–		7,965,405
	2,000	Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Refunding Series 2007, 4.375%, 12/01/18 – AGC Insured		12/17 at 100.00		AA		2,009,760

96 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Georgia (continued)
$	1,865	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31 (Pre-refunded 1/01/19)		1/19 at 100.00		A2 (4)	$	2,007,355
		Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement Revenue Bonds, Memorial Health University Medical Center, Inc., Series 2012A:
	2,000	5.000%, 1/01/18		No Opt. Call		AA		2,020,480
	3,340	5.000%, 1/01/23		1/22 at 100.00		AA		3,851,454
	5,560	5.000%, 1/01/24		1/22 at 100.00		AA		6,361,696
	8,990	5.000%, 1/01/25		1/22 at 100.00		AA		10,230,440
	1,250	DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30		9/20 at 100.00		BB		1,366,850
	3,050	Georgia State, General Obligation Bonds, Refunding Series 2009I, 5.000%, 7/01/19		No Opt. Call		AAA		3,262,860
	200	Glynn-Brunswick Memorial Hospital Authority, Georgia, Revenue Bonds, Southeast Georgia Health Systems, Anticipation Certificates Series 2008A, 5.250%, 8/01/23		8/18 at 100.00		A2		206,550
	1,805	Glynn-Brunswick Memorial Hospital Authority, Georgia, Revenue Bonds, Southeast Georgia Health Systems, Anticipation Certificates Series 2008A, 5.250%, 8/01/23 (Pre-refunded 8/01/18)		8/18 at 100.00		N/R (4)		1,870,323
	2,785	Municipal Gas Authority of Georgia, Gas Revenue Bonds, Gas Portfolio III Project, Series 2014U, 5.000%, 10/01/21		No Opt. Call		AA–		3,164,289
	58,540	Total Georgia						66,647,304
		Guam – 0.1%
	4,060	Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43		7/23 at 100.00		A–		4,490,888
		Hawaii – 1.0%
	5,005	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010A, 5.250%, 7/01/30		7/20 at 100.00		A1		5,391,987
	1,025	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010B, 5.625%, 7/01/30		7/20 at 100.00		A1		1,118,183
		Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A:
	5,500	5.000%, 7/01/26		7/25 at 100.00		AA–		6,579,430
	4,510	5.000%, 7/01/27		7/25 at 100.00		AA–		5,361,578
	7,825	5.000%, 7/01/28		7/25 at 100.00		AA–		9,241,481
	9,180	5.000%, 7/01/29		7/25 at 100.00		AA–		10,774,474
	15,450	Hawaiian Electric Company Inc. and Its Subsidiaries, Special Purpose Revenue Bonds, Department of Budget and Finance of the State of Hawaii, Series 2015, 3.250%, 1/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		16,151,430
	48,495	Total Hawaii						54,618,563
		Idaho – 0.4%
	560	Boise City, Idaho, Airport Revenue Bonds, Aircraft Maintenance Facilities Project, Subordinate Series 2015, 3.750%, 9/01/32 (Alternative Minimum Tax)		9/25 at 100.00		A2		577,433
	3,095	Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Refunding Series 2008B, 6.000%, 12/01/23 (Pre-refunded 12/01/18)		12/18 at 100.00		AA– (4)		3,270,951

NUVEEN 97

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Idaho (continued)
		Madison County School District 321, Idaho, General Obligation Bonds, Sales Tax and Credit Enhancement Guaranty, Refunding Series 2014BX:
$	2,595	5.000%, 8/15/21		No Opt. Call		Aaa	$	2,969,121
	2,710	5.000%, 8/15/22		No Opt. Call		Aaa		3,173,356
	9,285	Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, Refunding Series 2016, 2.750%, 10/01/24		No Opt. Call		BB+		9,005,243
	1,000	University of Idaho, General Revenue Bonds, Series 2007B, 4.500%, 4/01/41 (Mandatory put 4/01/18) – AGM Insured		No Opt. Call		AA		1,016,070
	19,245	Total Idaho						20,012,174
		Illinois – 14.6%
	2,370	Bartlett, Illinois, Tax Increment Revenue Bonds, Bartlett Quarry Redev Project, Senior Lien Series 2016, 4.000%, 1/01/24		1/22 at 100.00		N/R		2,322,197
		Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A:
	2,800	0.000%, 1/01/30		7/23 at 72.73		A2		1,635,032
	2,550	0.000%, 1/01/31		7/23 at 68.94		A2		1,403,699
	2,750	0.000%, 1/01/32		7/23 at 65.28		A2		1,427,773
	4,000	0.000%, 1/01/33		7/23 at 61.69		A2		1,953,520
		Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016:
	433	2.150%, 3/01/23 – BAM Insured		No Opt. Call		AA		431,350
	448	2.350%, 3/01/24 – BAM Insured		No Opt. Call		AA		445,572
	966	2.700%, 3/01/26 – BAM Insured		3/25 at 100.00		AA		952,379
	1,055	2.900%, 3/01/28 – BAM Insured		3/25 at 100.00		AA		1,020,691
	973	3.050%, 3/01/30 – BAM Insured		3/25 at 100.00		AA		949,356
		Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016:
	587	2.150%, 3/01/23 – BAM Insured		No Opt. Call		AA		584,764
	612	2.350%, 3/01/24 – BAM Insured		No Opt. Call		AA		608,683
	968	2.700%, 3/01/26 – BAM Insured		3/25 at 100.00		AA		954,351
	1,427	2.900%, 3/01/28 – BAM Insured		3/25 at 100.00		AA		1,389,227
	1,452	3.050%, 3/01/30 – BAM Insured		3/25 at 100.00		AA		1,411,170
	14,340	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Alternative Revenue, Project Series 2015G, 9.000%, 3/01/32		12/17 at 100.00		B		14,489,566
	29,475	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Capital Improvement Revenues, Series 2016, 6.000%, 4/01/46		4/27 at 100.00		A		34,788,458
	10,900	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 7.000%, 12/01/42		12/27 at 100.00		N/R		13,143,329
	16,120	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding SIFMA Index Series 2013A-2, 9.000%, 3/01/35		12/17 at 100.00		B		16,287,164
	19,585	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46		12/27 at 100.00		N/R		23,580,144
		Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011:
	3,530	5.250%, 12/01/25		12/21 at 100.00		AA		3,923,313
	3,235	5.250%, 12/01/26		12/21 at 100.00		AA		3,584,606
		Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2015A:
	5,700	5.000%, 1/01/33 (Alternative Minimum Tax)		1/25 at 100.00		A		6,426,237
	4,225	5.000%, 1/01/34 (Alternative Minimum Tax)		1/25 at 100.00		A		4,745,731

98 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	17,605	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38		1/27 at 100.00		BBB+	$	20,393,632
		Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C:
	1,745	5.000%, 1/01/26		1/19 at 100.00		BBB+		1,799,409
	2,555	5.000%, 1/01/27		1/19 at 100.00		BBB+		2,634,665
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	6,570	5.000%, 1/01/23		No Opt. Call		BBB+		7,271,545
	7,600	5.000%, 1/01/24		No Opt. Call		BBB+		8,502,120
	4,440	5.000%, 1/01/25		No Opt. Call		BBB+		4,996,465
	1,940	5.000%, 1/01/26		No Opt. Call		BBB+		2,189,988
	1,525	Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.000%, 12/01/24		12/23 at 100.00		A+		1,702,053
	1,410	Cook County Community High School District 219, Niles Township, Illinois, General Obligation Bonds, Refunding Series 2007A, 5.000%, 12/01/26 – AGM Insured		12/17 at 100.00		AA+		1,419,955
	3,465	Cook County High School District 205 Thornton Township, Illinois, General Obligation Bonds, Series 2008, 5.250%, 12/01/21 – AGC Insured		12/18 at 100.00		AA		3,626,850
	1,175	Cook County School District 88, Bellwood, Illinois, General Obligation Bonds, Refunding Series 2004B, 5.000%, 12/01/17 – AGM Insured		11/17 at 100.00		A2		1,179,089
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C:
	2,600	5.000%, 11/15/20		No Opt. Call		AA–		2,847,104
	2,770	5.000%, 11/15/21		No Opt. Call		AA–		3,098,494
	2,400	5.000%, 11/15/22		No Opt. Call		AA–		2,731,944
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A:
	5,250	5.000%, 11/15/20		No Opt. Call		AA–		5,748,960
	2,250	5.000%, 11/15/21		No Opt. Call		AA–		2,516,828
		Grundy and Will Counties Community Unit School District 1 Coal City, Illinois, General Obligation Bonds, Series 2008:
	460	5.875%, 2/01/19		8/18 at 100.00		Aa3		478,773
	625	5.875%, 2/01/22		8/18 at 100.00		Aa3		649,938
	760	5.875%, 2/01/24		8/18 at 100.00		Aa3		790,256
		Grundy and Will Counties Community Unit School District 1 Coal City, Illinois, General Obligation Bonds, Series 2008:
	1,090	5.875%, 2/01/19 (Pre-refunded 8/01/18)		8/18 at 100.00		N/R (4)		1,135,170
	1,475	5.875%, 2/01/22 (Pre-refunded 8/01/18)		8/18 at 100.00		N/R (4)		1,536,124
	1,785	5.875%, 2/01/24 (Pre-refunded 8/01/18)		8/18 at 100.00		N/R (4)		1,858,970
	500	Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 2.800%, 3/01/25 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		501,530
		Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017:
	875	2.400%, 3/01/23 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		877,555
	925	2.600%, 3/01/24 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		927,831
	1,025	3.000%, 3/01/26 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		1,030,043
	1,055	3.150%, 3/01/27 (WI/DD, Settling 10/18/17) – BAM Insured		3/26 at 100.00		AA		1,058,323
	1,515	Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/18 – AGC Insured		No Opt. Call		Aa3		1,509,864
	1,245	Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/18 – AGM Insured (ETM)		No Opt. Call		Aa3 (4)		1,241,888

NUVEEN 99

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	1,035	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2014, 5.000%, 8/01/23		No Opt. Call		AA+	$	1,217,512
	3,000	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012, 5.000%, 6/01/42		6/22 at 100.00		AA+		3,243,330
	2,000	Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2016, 5.000%, 3/01/30		3/26 at 100.00		AA–		2,334,880
	13,685	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27		9/22 at 100.00		BBB–		14,806,896
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:
	475	5.000%, 9/01/26		9/24 at 100.00		BBB–		530,509
	1,205	5.000%, 9/01/27		9/24 at 100.00		BBB–		1,337,369
	775	5.000%, 9/01/29		9/24 at 100.00		BBB–		851,392
	2,450	5.000%, 9/01/34		9/24 at 100.00		BBB–		2,632,035
	2,480	4.625%, 9/01/39		9/24 at 100.00		BBB–		2,538,925
	7,015	5.000%, 9/01/42		9/24 at 100.00		BBB–		7,387,637
		Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A:
	1,200	6.000%, 2/01/25 (Pre-refunded 2/01/18) – AMBAC Insured		2/18 at 100.00		A (4)		1,220,328
	1,280	6.000%, 2/01/26 (Pre-refunded 2/01/18) – AMBAC Insured		2/18 at 100.00		A (4)		1,301,683
	500	6.000%, 2/01/28 (Pre-refunded 2/01/18) – AMBAC Insured		2/18 at 100.00		A (4)		508,470
	1,000	Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 6.500%, 2/01/23		2/19 at 100.00		Baa3		1,036,980
		Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013:
	1,390	5.000%, 5/15/23		5/22 at 100.00		Baa1		1,543,234
	1,120	5.000%, 5/15/25		5/22 at 100.00		Baa1		1,228,685
	1,175	5.000%, 5/15/26		5/22 at 100.00		Baa1		1,281,996
	5,135	Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/24		No Opt. Call		A3		5,991,877
		Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A:
	2,370	5.000%, 7/01/33		7/26 at 100.00		A		2,674,095
	3,170	5.000%, 7/01/34		7/26 at 100.00		A		3,563,904
	5,000	5.000%, 7/01/35		7/26 at 100.00		A		5,605,200
	15	Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Series 2008A, 5.500%, 7/01/38 (Pre-refunded 7/01/18)		7/18 at 100.00		A (4)		15,507
	4,265	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2009A, 7.000%, 11/15/29 (Pre-refunded 5/15/19)		5/19 at 100.00		A2 (4)		4,673,459
		Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A:
	1,000	5.000%, 11/15/27		11/25 at 100.00		A		1,167,020
	1,885	5.000%, 11/15/28		11/25 at 100.00		A		2,185,846
	2,000	5.000%, 11/15/29		11/25 at 100.00		A		2,300,180
		Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C:
	2,200	3.625%, 2/15/32		2/27 at 100.00		BBB		2,193,818
	10,000	3.750%, 2/15/34		2/27 at 100.00		BBB		9,951,200
	33,975	4.000%, 2/15/41		2/27 at 100.00		BBB		34,613,390
	4,000	Illinois Finance Authority, Revenue Bonds, Roosevelt University Project, Refunding Series 2009, 5.750%, 4/01/24		10/19 at 100.00		Ba1		4,253,560

100 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007:
$	500	5.250%, 4/01/22		12/17 at 100.00		Ba2	$	500,205
	3,600	5.400%, 4/01/27		12/17 at 100.00		Ba2		3,600,432
	2,030	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A, 6.750%, 11/01/24 (Pre-refunded 11/01/18)		11/18 at 100.00		Aaa		2,155,373
	1,525	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.375%, 11/01/29 (Pre-refunded 5/01/19)		5/19 at 100.00		Aaa		1,653,207
		Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C:
	2,215	5.000%, 8/15/35		8/25 at 100.00		Baa1		2,421,217
	5,000	5.000%, 8/15/44		8/25 at 100.00		Baa1		5,313,950
	5,000	Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		5,535,350
		Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C:
	650	5.000%, 3/01/32		3/27 at 100.00		A+		745,648
	2,750	5.000%, 3/01/33		3/27 at 100.00		A+		3,135,440
	1,650	5.000%, 3/01/34		3/27 at 100.00		A+		1,874,087
	1,200	4.000%, 3/01/35		3/27 at 100.00		A+		1,228,392
	1,870	Illinois Health Facilities Authority, Revenue Bonds, Advocate Healthcare Network, Series 2003A. Remarketing 07/21/16, 1.375%, 11/15/22		7/21 at 101.00		AA+		1,851,188
		Illinois State, General Obligation Bonds, February Series 2014:
	4,000	5.000%, 2/01/23		No Opt. Call		BBB		4,369,040
	3,155	5.000%, 2/01/24		No Opt. Call		BBB		3,464,222
	4,630	5.000%, 2/01/25		2/24 at 100.00		BBB		5,065,590
	4,675	5.000%, 2/01/26		2/24 at 100.00		BBB		5,112,346
	6,000	5.000%, 2/01/27		2/24 at 100.00		BBB		6,536,220
	12,200	Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/26		No Opt. Call		BBB		13,480,268
		Illinois State, General Obligation Bonds, Refunding Series 2010:
	1,865	5.000%, 1/01/18		No Opt. Call		BBB		1,880,125
	6,040	5.000%, 1/01/19 – AGM Insured		No Opt. Call		AA		6,273,325
	5,060	5.000%, 1/01/19		No Opt. Call		BBB		5,232,394
		Illinois State, General Obligation Bonds, Refunding Series 2012:
	7,750	5.000%, 8/01/20		No Opt. Call		BBB		8,267,235
	6,460	5.000%, 8/01/21		No Opt. Call		BBB		6,983,777
	15,265	5.000%, 8/01/22		No Opt. Call		BBB		16,621,753
	2,795	5.000%, 8/01/23		No Opt. Call		BBB		3,065,584
	270	5.000%, 8/01/25		8/22 at 100.00		BBB		293,890
	10,000	Illinois State, General Obligation Bonds, Series 2006A, 5.000%, 6/01/18		No Opt. Call		BBB		10,207,100
	1,100	Illinois State, General Obligation Bonds, Series 2009A, 5.000%, 9/01/34		9/18 at 100.00		BBB		1,112,122
		Illinois State, General Obligation Bonds, Series 2012A:
	7,840	4.000%, 1/01/20		No Opt. Call		BBB		8,103,110
	12,160	4.000%, 1/01/22		No Opt. Call		BBB		12,696,378
		Illinois State, General Obligation Bonds, Series 2013:
	4,200	5.500%, 7/01/25		7/23 at 100.00		BBB		4,706,226
	2,760	5.500%, 7/01/26		7/23 at 100.00		BBB		3,091,145
	1,000	5.500%, 7/01/27		7/23 at 100.00		BBB		1,112,200

NUVEEN 101

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A:
$	1,765	5.000%, 12/01/21		No Opt. Call		AA–	$	2,021,719
	3,345	5.000%, 12/01/22		No Opt. Call		AA–		3,902,310
	4,110	5.000%, 1/01/33		1/23 at 100.00		AA–		4,615,078
	6,795	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A, 5.000%, 12/01/31		1/26 at 100.00		AA–		7,927,930
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014B:
	11,000	5.000%, 1/01/36		1/24 at 100.00		AA–		12,548,800
	6,000	5.000%, 1/01/37		1/24 at 100.00		AA–		6,829,920
	11,560	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014D, 5.000%, 1/01/24		No Opt. Call		AA–		13,708,888
	10,550	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015B, 5.000%, 1/01/37		1/26 at 100.00		AA–		12,032,697
		Kane County Community Unit School District 304 Geneva, Illinois, General Obligation Bonds, Series 2007A:
	8,570	9.000%, 1/01/22 – AGM Insured		No Opt. Call		AA+		11,102,863
	1,250	9.000%, 1/01/23 – AGM Insured		No Opt. Call		AA+		1,694,088
	5,150	9.000%, 1/01/25 – AGM Insured		No Opt. Call		AA+		7,507,927
		Kendall County Forest Preserve District, Illinois, General Obligation Bonds, Series 2007:
	360	5.250%, 1/01/24 (Pre-refunded 1/01/18) – NPFG Insured		1/18 at 100.00		A (4)		363,982
	2,910	5.250%, 1/01/24 (Pre-refunded 1/01/18) – NPFG Insured		1/18 at 100.00		A (4)		2,942,272
		Kendall, Kane, and Will Counties Community Unit School District 308 Oswego, Illinois, General Obligation Bonds, Refunding Series 2016:
	5,000	5.000%, 2/01/34		2/26 at 100.00		AA		5,705,000
	3,465	5.000%, 2/01/35		2/26 at 100.00		AA		3,942,650
		LaSalle and Bureau Counties High School District 120 LaSalle-Peru, Illinois, General Obligation Bonds, School Building Series 2017:
	1,485	5.000%, 12/01/30 – BAM Insured		12/26 at 100.00		AA		1,745,514
	1,065	5.000%, 12/01/31 – BAM Insured		12/26 at 100.00		AA		1,246,753
	1,645	5.000%, 12/01/32 – BAM Insured		12/26 at 100.00		AA		1,915,635
	1,725	5.000%, 12/01/33 – BAM Insured		12/26 at 100.00		AA		1,996,774
	1,815	5.000%, 12/01/34 – BAM Insured		12/26 at 100.00		AA		2,091,533
	2,100	Madison and Jersey Counties Community Unit School District 11, Alton, Illinois, General Obligation Bonds, Series 2002, 0.000%, 12/01/19 – AGM Insured		No Opt. Call		AA		2,012,241
	1,500	Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding Series 2017A, 5.000%, 11/01/31 – AGM Insured		11/26 at 100.00		AA		1,733,190
		McCook, Cook County, Illinois, General Obligation Bonds, Series 2008:
	500	5.000%, 12/01/26		12/18 at 100.00		A–		515,920
	1,000	5.100%, 12/01/28		12/18 at 100.00		A–		1,032,990
		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B:
	3,750	5.000%, 12/15/28		6/22 at 100.00		BBB–		4,015,725
	1,700	0.000%, 12/15/51		No Opt. Call		BBB–		239,377
	25,375	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/29 – NPFG Insured		No Opt. Call		A		16,106,274

102 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	2,270	Peoria Public Building Commission, Illinois, School District Facility Revenue Bonds, Peoria County School District 150 Project, Series 2011., 0.000%, 12/01/24		No Opt. Call		A	$	1,795,139
	1,494	Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014, 5.000%, 3/01/29 – AGM Insured		3/24 at 100.00		AA		1,663,659
		Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012:
	295	5.000%, 10/01/23		10/22 at 100.00		Baa1		332,456
	325	5.000%, 10/01/24		10/22 at 100.00		Baa1		368,566
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:
	7,635	5.250%, 6/01/21		No Opt. Call		A		8,651,142
	12,395	5.500%, 6/01/23		6/21 at 100.00		A		13,998,541
		Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017:
	1,285	3.700%, 3/01/29 – BAM Insured		3/27 at 100.00		AA		1,322,137
	1,075	3.800%, 3/01/30 – BAM Insured		3/27 at 100.00		AA		1,103,799
	1,400	4.000%, 3/01/33 – BAM Insured		3/27 at 100.00		AA		1,432,004
		Saint Clair County, Illinois, General Obligation Bonds, Refunding Alternate Revenue Source Series 2009:
	360	4.500%, 10/01/20		10/19 at 100.00		AA		381,701
	370	5.000%, 10/01/22		10/19 at 100.00		AA		395,204
		Saint Clair County, Illinois, General Obligation Bonds, Refunding Alternate Revenue Source Series 2009:
	640	4.500%, 10/01/20 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		684,032
	730	5.000%, 10/01/22 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		787,451
		Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc., Series 2013:
	2,565	7.125%, 11/01/43 (Pre-refunded 11/01/23)		11/23 at 100.00		N/R (4)		3,388,647
	2,415	7.625%, 11/01/48 (Pre-refunded 11/01/23)		11/23 at 100.00		N/R (4)		3,260,322
	2,840	Southwestern Illinois Development Authority, Local Government Program Revenue Bonds, Southwestern Illinois Flood District Council Project, Series 2016B, 4.000%, 10/15/40		10/25 at 100.00		A		2,898,760
	1,000	Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 5.000%, 12/01/17 – AGM Insured		No Opt. Call		AA		1,006,550
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	7,805	5.000%, 3/01/33		3/25 at 100.00		A		8,836,587
	13,960	5.000%, 3/01/34 – AGM Insured		3/25 at 100.00		AA		15,785,270
	10,990	5.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		12,241,321
		Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2012:
	3,205	4.000%, 11/01/21		No Opt. Call		A+		3,511,302
	2,830	4.000%, 11/01/22		No Opt. Call		A+		3,131,876
		Will and Kendall Counties Community Consolidated School District 202 Plainfield, Illinois, General Obligation Bonds, Series 2016C:
	9,760	5.000%, 1/01/22		No Opt. Call		Aa2		11,085,213
	3,355	5.000%, 1/01/23		No Opt. Call		Aa2		3,885,493
	3,295	5.000%, 1/01/24		No Opt. Call		Aa2		3,873,437
	4,215	5.000%, 1/01/25		No Opt. Call		Aa2		5,017,873

NUVEEN 103

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	5,675	Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2013B, 0.000%, 1/01/30		No Opt. Call		Ba1	$	2,802,088
	3,870	Will County School District 86, Joliet, Illinois, General Obligation Bonds, Series 2002, 0.000%, 11/01/17 - AGM Insured		No Opt. Call		AA		3,866,556
	13,255	Will County, Illinois, General Obligation Bonds, Alternate Revenue Source Series 2016, 5.000%, 11/15/41		11/25 at 100.00		AA+		15,164,383
		Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008:
	535	6.250%, 6/01/24		6/18 at 100.00		AA		553,265
	1,005	5.750%, 6/01/25		6/18 at 100.00		AA		1,035,823
	335	5.750%, 6/01/26		6/18 at 100.00		AA		345,228
		Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008:
	325	5.750%, 6/01/25 (Pre-refunded 6/01/18)		6/18 at 100.00		N/R (4)		335,501
	85	5.750%, 6/01/26 (Pre-refunded 6/01/18)		6/18 at 100.00		N/R (4)		87,746
	5,915	Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, Limited Tax General Obligation Lease Certificates, Series 2011, 7.000%, 10/15/22		10/19 at 103.00		BBB+		6,422,211
		Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013:
	4,070	0.000%, 2/01/25		No Opt. Call		A+		3,282,455
	3,855	0.000%, 2/01/26		No Opt. Call		A+		2,956,322
	736,075	Total Illinois						785,781,244
		Indiana – 3.4%
	710	Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/17 (ETM)		9/17 at 100.00		BB (4)		710,163
	540	Carmel Redevelopment Authority, Indiana, County Option Income Tax Lease Rental Revenue Bonds, Refunding Series 2014A, 4.000%, 1/01/18		No Opt. Call		AA		544,174
		Carmel Redevelopment Authority, Indiana, County Option Income Tax Lease Rental Revenue Bonds, Refunding Series 2014B:
	500	4.000%, 1/01/18		No Opt. Call		AA		503,865
	1,000	4.000%, 1/01/19		No Opt. Call		AA		1,036,560
	435	5.000%, 1/01/20		No Opt. Call		AA		472,075
	1,000	5.000%, 7/01/20		No Opt. Call		AA		1,102,390
	500	5.000%, 1/01/21		No Opt. Call		AA		559,115
	3,500	Indiana Finance Authority, Educational Facilities Revenue Bonds, University of Indianapolis Project, Series 2017, 5.000%, 10/01/43		4/27 at 100.00		BBB+		3,826,620
	6,750	Indiana Finance Authority, Hospital Revenue Bonds, Deaconess Health System Obligated Group, Series 2016A, 5.000%, 3/01/44		9/26 at 100.00		A+		7,530,975
		Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A:
	1,130	3.500%, 10/01/26		10/23 at 100.00		BBB+		1,168,070
	500	5.000%, 10/01/29		10/23 at 100.00		BBB+		562,920
	4,000	Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series 2015A, 5.250%, 2/01/37		8/25 at 100.00		AA+		4,700,680
	5,300	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.250%, 10/01/24 – AGM Insured		10/21 at 100.00		AA		6,095,424

104 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
		Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A:
$	715	5.000%, 10/01/22		No Opt. Call		AA	$	828,506
	620	5.000%, 10/01/23		No Opt. Call		AA		731,681
	625	5.000%, 10/01/24		No Opt. Call		AA		748,575
	1,220	5.000%, 10/01/25		10/24 at 100.00		AA		1,455,289
	1,710	5.000%, 10/01/26		10/24 at 100.00		AA		2,032,113
	8,000	Indiana Finance Authority, Water Utility Revenue Bonds, Citizens Energy Group Project, First Lien Series 2014A, 2.950%, 10/01/22		7/22 at 100.00		A+		8,442,640
	1,275	Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health Subordinate Credit Group, Series 2005A-8, 1.250%, 11/01/27 (Mandatory put 5/01/20)		No Opt. Call		AA+		1,269,403
		Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2013A:
	2,750	5.250%, 1/01/33		7/23 at 100.00		A+		3,167,285
	2,500	5.250%, 1/01/34		7/23 at 100.00		A+		2,873,550
	2,800	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Refunding Series 2006, 5.500%, 7/01/21 – NPFG Insured		No Opt. Call		AA–		3,207,428
	5,000	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007B, 5.250%, 7/01/23 – NPFG Insured		No Opt. Call		AA–		5,924,050
		Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2013A:
	7,900	5.250%, 8/15/28		8/23 at 100.00		AA		9,237,233
	10,000	5.250%, 8/15/29		8/23 at 100.00		AA		11,668,600
		Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2017A:
	12,190	5.000%, 8/15/26		No Opt. Call		AA		14,934,700
	6,430	5.000%, 8/15/27		No Opt. Call		AA		7,962,655
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A:
	500	5.000%, 10/01/27		10/24 at 100.00		A		581,445
	720	5.000%, 10/01/28		10/24 at 100.00		A		832,889
	1,000	5.000%, 10/01/29		10/24 at 100.00		A		1,151,770
	1,360	5.000%, 10/01/31		10/24 at 100.00		A		1,556,574
	1,215	5.000%, 10/01/33		10/24 at 100.00		A		1,379,001
	2,985	Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public Service Company Project, Series 1994A Remarketed, 5.850%, 4/01/19 – NPFG Insured		No Opt. Call		A		3,165,921
		Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A:
	1,675	5.000%, 4/01/21		No Opt. Call		Baa3		1,814,427
	940	5.000%, 4/01/22		No Opt. Call		Baa3		1,032,618
	2,015	5.000%, 4/01/24		4/22 at 100.00		Baa3		2,193,851

NUVEEN 105

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
		Lake County Building Corporation, Indiana, First Mortgage Bonds, Series 2012:
$	500	4.250%, 2/01/18		No Opt. Call		N/R	$	502,625
	500	4.250%, 8/01/18		No Opt. Call		N/R		506,305
	500	4.500%, 2/01/19		No Opt. Call		N/R		511,100
	500	4.500%, 8/01/19		No Opt. Call		N/R		514,810
	500	4.750%, 2/01/20		No Opt. Call		N/R		521,000
	500	4.750%, 8/01/20		No Opt. Call		N/R		524,715
	250	4.750%, 2/01/21		No Opt. Call		N/R		263,478
	500	4.750%, 8/01/21		No Opt. Call		N/R		529,775
	500	5.000%, 2/01/22		No Opt. Call		N/R		536,305
	500	5.000%, 8/01/22		2/22 at 100.00		N/R		534,640
	500	5.000%, 8/01/23		2/22 at 100.00		N/R		530,670
	500	5.000%, 2/01/24		2/22 at 100.00		N/R		528,530
	960	Southwind Housing Inc., Evansville, Indiana, First Mortgage Revenue Bonds, Series 1978A, 7.125%, 11/15/21 (ETM)		11/17 at 100.00		N/R (4)		1,084,992
		Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014:
	1,040	5.000%, 2/01/25		8/24 at 100.00		A		1,231,755
	1,000	5.000%, 2/01/26		8/24 at 100.00		A		1,188,830
	1,805	5.000%, 2/01/27		8/24 at 100.00		A		2,131,940
	1,750	5.000%, 2/01/29		8/24 at 100.00		A		2,044,350
	2,700	5.000%, 2/01/31		8/24 at 100.00		A		3,131,001
	19,905	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2015, 5.000%, 11/01/45 (Mandatory put 11/01/22) (Alternative Minimum Tax)		No Opt. Call		A1		22,706,828
	20,625	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2016A, 5.000%, 3/01/46 (Mandatory put 3/01/23)		No Opt. Call		A1		23,621,606
	157,545	Total Indiana						180,150,490
		Iowa – 1.7%
	1,000	Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.500%, 6/15/30 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		1,115,820
		Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011:
	1,015	5.250%, 6/15/25 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		1,125,797
	2,000	5.250%, 6/15/26 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,218,320
	3,135	5.250%, 6/15/27 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		3,477,217
	2,000	5.375%, 6/15/28 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,224,980
	2,035	5.500%, 6/15/29 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,270,694
		Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011:
	1,830	5.000%, 1/01/23 (Pre-refunded 1/01/21) – AGM Insured		1/21 at 100.00		AA (4)		2,054,468
	1,890	5.000%, 1/01/24 (Pre-refunded 1/01/21) – AGM Insured		1/21 at 100.00		AA (4)		2,121,827
	1,520	5.000%, 1/01/25 (Pre-refunded 1/01/21) – AGM Insured		1/21 at 100.00		AA (4)		1,706,443
	1,000	5.000%, 1/01/26 (Pre-refunded 1/01/21) – AGM Insured		1/21 at 100.00		AA (4)		1,122,660
	10,000	Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2013A, 5.250%, 2/15/44		2/23 at 100.00		AA–		11,015,400
		Iowa Finance Authority, Healthcare Revenue Bonds, Genesis Health System, Series 2013:
	8,655	5.000%, 7/01/27		7/23 at 100.00		A1		9,907,898
	6,820	5.000%, 7/01/28		7/23 at 100.00		A1		7,769,685

106 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Iowa (continued)
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013:
$	6,445	5.000%, 12/01/19		No Opt. Call		B	$	6,669,028
	8,210	5.500%, 12/01/22		12/18 at 100.00		B		8,392,426
	1,925	5.250%, 12/01/25		12/23 at 100.00		B		2,042,155
	4,770	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26		6/18 at 105.00		B		5,055,007
	1,250	Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Upper Iowa University Project, Refunding Series 2010, 5.500%, 9/01/25 (Pre-refunded 9/01/20)		9/20 at 100.00		N/R (4)		1,407,600
	2,000	Iowa State, Special Obligation Bonds, Prison Infrastructure Fund, Refunding Series 2010, 4.500%, 6/15/22 (Pre-refunded 6/15/20)		6/20 at 100.00		AA (4)		2,183,460
		Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
	12,145	5.375%, 6/01/38		12/17 at 100.00		B+		12,144,150
	2,315	5.500%, 6/01/42		12/17 at 100.00		B+		2,314,768
	15	5.625%, 6/01/46		12/17 at 100.00		B+		15,000
	1,940	Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34		12/17 at 100.00		B+		1,951,543
	83,915	Total Iowa						90,306,346
		Kansas – 0.9%
	14,655	Burlington, Kansas, Environmental Improvement Revenue Bonds, Kansas City Power and Light Company Project, Refunding Series 1993A, 2.950%, 12/01/23		4/23 at 101.00		A		15,398,302
	10,000	Burlington, Kansas, Environmental Improvement Revenue Bonds, Kansas City Power and Light Company Project, Refunding Series 1993B, 2.950%, 12/01/23		4/23 at 101.00		A		10,507,200
	765	Johnson County Unified School District 512, Shawnee Mission, Kansas, General Obligation Bonds, Refunding Series 1996, 4.875%, 10/01/19		No Opt. Call		Aaa		794,430
	2,200	Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C, 5.500%, 11/15/23		11/19 at 100.00		AA		2,405,634
	3,175	Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009D, 5.000%, 11/15/29 (Pre-refunded 11/15/17)		11/17 at 100.00		AA (4)		3,191,859
	1,850	Kansas Development Finance Authority, Revenue Bonds, Kansas State Projects, Series 2007K, 4.500%, 11/01/19 – NPFG Insured		11/17 at 100.00		Aa3		1,855,754
	20	Sedgwick and Shawnee Counties, Kansas, GNMA Mortgage-Backed Securities Program Single Family Revenue Bonds, Series 1997A-2, 6.700%, 6/01/29		No Opt. Call		Aaa		20,159
	10,160	Wichita, Kansas, Hospital Facilities Revenue Refunding and Improvement Bonds, Via Christi Health System Inc., Series 2011A-IV, 5.000%, 11/15/29 (Pre-refunded 11/15/21)		11/21 at 100.00		N/R (4)		11,683,594
		Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Refunding & Improvement Series 2014A:
	1,915	5.000%, 9/01/21		No Opt. Call		A+		2,175,325
	660	5.000%, 9/01/22		No Opt. Call		A+		764,782
	1,505	5.000%, 9/01/23		No Opt. Call		A+		1,776,216
	46,905	Total Kansas						50,573,255
		Kentucky – 1.5%
	2,460	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2009A, 5.625%, 8/15/27		8/18 at 100.00		A		2,541,918

NUVEEN 107

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kentucky (continued)
$	1,795	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2015A, 4.500%, 6/01/46		6/25 at 100.00		BBB	$	1,842,962
	8,175	Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 5.750%, 12/01/28 – AGC Insured		6/18 at 100.00		AA		8,322,313
	20,700	Kentucky State Property and Buildings Commission, Revenue Bonds, Project 83, Series 2004, 5.000%, 10/01/18 – AMBAC Insured		No Opt. Call		A1		21,520,962
	7,000	Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/28		6/21 at 100.00		A1		7,773,430
	495	Logan/Todd Regional Water Commission, Kentucky, Revenue Bonds, Refunding Series 2016A, 2.500%, 7/01/30 – AGM Insured		7/26 at 100.00		AA		474,101
		Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A:
	1,320	5.000%, 7/01/26 (Alternative Minimum Tax)		7/24 at 100.00		A+		1,524,811
	3,280	5.000%, 7/01/28 (Alternative Minimum Tax)		7/24 at 100.00		A+		3,746,154
	3,760	Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A, 5.000%, 12/01/35		6/22 at 100.00		BBB+		3,951,309
	10,080	Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A, 5.000%, 12/01/35 (Pre-refunded 6/01/22)		6/22 at 100.00		N/R (4)		11,712,658
	1,135	Louisville-Jefferson County Metro Government, Kentucky, Revenue Bonds, Bellarmine University Inc. Project, Refunding & Improvement Series 2008A, 6.000%, 5/01/28		5/18 at 100.00		Baa3		1,160,594
	2,105	Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2005A, 2.200%, 2/01/35 (Mandatory put 8/01/19)		8/19 at 100.00		A1		2,133,586
		Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-Calloway County Public Hospital Corporation Project, Refunding Series 2016:
	1,005	5.000%, 8/01/25		No Opt. Call		Baa3		1,134,585
	1,060	5.000%, 8/01/26		No Opt. Call		Baa3		1,201,266
	1,110	5.000%, 8/01/27		8/26 at 100.00		Baa3		1,248,328
	1,165	5.000%, 8/01/28		8/26 at 100.00		Baa3		1,301,433
	1,230	5.000%, 8/01/29		8/26 at 100.00		Baa3		1,365,718
	2,935	5.000%, 8/01/37		8/26 at 100.00		Baa3		3,165,163
		Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011:
	1,255	6.000%, 3/01/22		3/21 at 100.00		A3		1,427,701
	1,320	6.250%, 3/01/23		3/21 at 100.00		A3		1,506,556
	1,300	6.250%, 3/01/24		3/21 at 100.00		A3		1,478,477
	74,685	Total Kentucky						80,534,025
		Louisiana – 2.6%
	5,035	De Soto Parrish, Louisiana, Pollution Control Revenue Bonds, Southwestern Electric Power Company Project, Refunding Series 2010, 1.600%, 1/01/19		No Opt. Call		A–		5,038,474
		East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2014B:
	970	5.000%, 2/01/23		No Opt. Call		AA		1,129,487
	540	5.000%, 2/01/24		No Opt. Call		AA		638,739
	800	5.000%, 2/01/25		No Opt. Call		AA		957,496
	585	Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East Jefferson General Hospital, Refunding Series 2011, 6.250%, 7/01/31		7/21 at 100.00		BB		624,751

108 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
$	475	Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2012, 5.000%, 6/01/24 (Pre-refunded 6/01/22) – AGM Insured		6/22 at 100.00		AA (4)	$	553,104
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A:
	17,435	5.000%, 6/01/25		No Opt. Call		A1		20,843,717
	16,260	5.000%, 6/01/26		No Opt. Call		A1		19,549,561
	245	Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006-C1, 5.875%, 6/01/23 (Pre-refunded 6/01/18)		6/18 at 100.00		AA (4)		253,154
	5	Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006C-3, 6.125%, 6/01/25 (Pre-refunded 6/01/18) – AGC Insured		6/18 at 100.00		AA (4)		5,175
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, East Baton Rouge Sewerage Commission Projects, Subordinate Lien Series 2014A:
	2,280	5.000%, 2/01/28		2/24 at 100.00		AA–		2,657,796
	2,850	5.000%, 2/01/29		2/24 at 100.00		AA–		3,307,767
	2,000	5.000%, 2/01/30		2/24 at 100.00		AA–		2,311,120
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007A:
	2,000	6.750%, 12/15/37 (8)		12/17 at 100.00		N/R		1,299,800
	320	6.000%, 12/15/37 (8)		12/17 at 100.00		N/R		207,968
	30	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007B, 9.000%, 12/15/17 (8)		No Opt. Call		N/R		19,497
	1,000	Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese of New Orleans, Refunding Series 2017, 5.000%, 7/01/37		7/27 at 100.00		A–		1,105,590
	2,210	Louisiana Public Facilities Authority, Revenue Bonds, Entergy Louisiana, LLC Project, Refunding Series 2016A, 3.375%, 9/01/28		3/21 at 100.00		A		2,246,531
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016:
	1,030	5.000%, 5/15/30		5/26 at 100.00		A3		1,198,426
	2,965	5.000%, 5/15/32		5/26 at 100.00		A3		3,390,922
	3,660	5.000%, 5/15/33		5/26 at 100.00		A3		4,153,112
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016:
	15	5.000%, 5/15/30 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		18,656
	30	5.000%, 5/15/32 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		37,313
	40	5.000%, 5/15/33 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		49,750
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017:
	1,250	5.000%, 5/15/28		5/27 at 100.00		A3		1,484,588
	1,000	5.000%, 5/15/29		5/27 at 100.00		A3		1,178,770
	1,155	5.000%, 5/15/30		5/27 at 100.00		A3		1,353,383
	1,750	5.000%, 5/15/31		5/27 at 100.00		A3		2,037,560
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	1,050	5.000%, 7/01/22		No Opt. Call		AA–		1,213,096
	2,750	5.000%, 7/01/29		7/23 at 100.00		AA–		3,164,067
	5,000	5.000%, 7/01/31		7/23 at 100.00		AA–		5,720,800
	3,835	5.000%, 7/01/32		7/23 at 100.00		AA–		4,372,322

NUVEEN 109

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
		Louisiana State, Unclaimed Property Special Revenue Bonds, Interstate 49 North Project, Series 2013:
$	1,165	5.000%, 9/01/29		9/23 at 100.00		A+	$	1,311,837
	5,070	5.000%, 9/01/31		9/23 at 100.00		A+		5,665,877
	4,000	5.000%, 9/01/32		9/23 at 100.00		A+		4,454,000
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012:
	4,140	5.000%, 12/01/19		No Opt. Call		AA–		4,468,799
	3,940	5.000%, 12/01/20		No Opt. Call		AA–		4,374,385
	5,400	5.000%, 12/01/21		No Opt. Call		AA–		6,148,548
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015:
	1,000	5.000%, 12/01/22		No Opt. Call		AA–		1,158,490
	870	5.000%, 12/01/23		No Opt. Call		AA–		1,021,319
	1,020	5.000%, 12/01/24		No Opt. Call		AA–		1,213,841
	470	5.000%, 12/01/25		No Opt. Call		AA–		563,060
	730	5.000%, 12/01/27		12/25 at 100.00		AA–		861,648
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014:
	1,200	5.000%, 6/01/20		No Opt. Call		A		1,313,616
	100	5.000%, 6/01/24		No Opt. Call		A		118,249
	500	5.000%, 6/01/25		6/24 at 100.00		A		585,250
	500	5.000%, 6/01/26		6/24 at 100.00		A		579,645
	525	5.000%, 6/01/27		6/24 at 100.00		A		603,939
	330	5.000%, 6/01/28		6/24 at 100.00		A		377,240
	570	5.000%, 6/01/29		6/24 at 100.00		A		649,355
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015:
	385	5.000%, 6/01/30		6/25 at 100.00		A		445,957
	775	5.000%, 6/01/32		6/25 at 100.00		A		890,219
	1,000	5.000%, 6/01/33		6/25 at 100.00		A		1,144,220
	650	5.000%, 6/01/35		6/25 at 100.00		A		739,434
	500	Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, Refunding Series 2013B, 5.000%, 4/01/30 (Alternative Minimum Tax)		4/23 at 100.00		A–		547,945
	6,585	Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 2010, 4.000%, 12/01/40 (Mandatory put 6/01/22)		No Opt. Call		BBB		6,964,691
	121,995	Total Louisiana						138,324,056
		Maine – 0.3%
	1,100	Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43		7/23 at 100.00		BBB		1,133,726
		Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A:
	4,185	4.000%, 7/01/41		7/26 at 100.00		BBB		3,724,190
	5,555	4.000%, 7/01/46		7/26 at 100.00		BBB		4,826,517
		Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011:
	1,000	6.750%, 7/01/36		7/21 at 100.00		BB		1,095,660
	3,850	6.750%, 7/01/41		7/21 at 100.00		BB		4,197,270
	630	Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2007B, 4.125%, 7/01/18 – FGIC Insured		1/18 at 100.00		AA		634,807
	110	Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2007B, 4.125%, 7/01/18 (Pre-refunded 1/01/18) – FGIC Insured		1/18 at 100.00		A1 (4)		110,889

110 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maine (continued)
		Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013:
$	500	4.000%, 7/01/18		No Opt. Call		BBB+	$	510,680
	225	4.000%, 7/01/20		No Opt. Call		BBB+		240,440
	290	5.000%, 7/01/22		No Opt. Call		BBB+		332,468
	17,445	Total Maine						16,806,647
		Maryland – 0.9%
		Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2016:
	1,235	3.250%, 1/01/31		1/26 at 100.00		N/R		1,205,002
	3,365	5.000%, 1/01/37		1/26 at 100.00		N/R		3,739,323
		Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017:
	1,160	5.000%, 9/01/26		No Opt. Call		BBB–		1,379,704
	1,760	5.000%, 9/01/27		No Opt. Call		BBB–		2,110,240
	2,655	5.000%, 9/01/29		9/27 at 100.00		BBB–		3,135,183
		Baltimore, Maryland, Revenue Bonds, Water Projects, Series 2013A:
	500	5.000%, 7/01/21		No Opt. Call		AA		569,165
	1,000	5.000%, 7/01/26		1/24 at 100.00		AA		1,181,040
	1,715	5.000%, 7/01/27		1/24 at 100.00		AA		2,018,298
	250	Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35		6/20 at 100.00		Baa3		267,550
		Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland, College Park Project, Refunding Series 2016:
	520	5.000%, 6/01/27 – AGM Insured		6/26 at 100.00		AA		628,820
	1,000	5.000%, 6/01/28 – AGM Insured		6/26 at 100.00		AA		1,198,180
	1,000	5.000%, 6/01/29 – AGM Insured		6/26 at 100.00		AA		1,188,230
	895	5.000%, 6/01/30 – AGM Insured		6/26 at 100.00		AA		1,055,393
	1,870	5.000%, 6/01/35 – AGM Insured		6/26 at 100.00		AA		2,159,831
		Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A:
	750	5.000%, 7/01/32		7/26 at 100.00		BBB		841,380
	2,250	5.000%, 7/01/33		7/26 at 100.00		BBB		2,513,295
	1,650	5.000%, 7/01/34		7/26 at 100.00		BBB		1,835,180
	2,000	5.000%, 7/01/35		7/26 at 100.00		BBB		2,218,080
	1,570	5.000%, 7/01/36		7/26 at 100.00		BBB		1,733,735
	1,260	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2010, 5.250%, 7/01/24		7/19 at 100.00		A2		1,337,011
	740	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2010, 5.250%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		795,123
	7,825	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland Health, Series 2014, 5.250%, 7/01/25		7/24 at 100.00		BBB		9,256,271
	2,475	Maryland State, General Obligation Bonds, State & Local Facilities Loan, First Series 2011A, 5.000%, 3/15/19		No Opt. Call		AAA		2,619,639
	2,155	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 45 Series 2017C-3, 2.500%, 11/01/24 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB		2,160,043
	1,480	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 70 Series 2017C-2, 3.000%, 11/01/25 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB		1,485,683

NUVEEN 111

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maryland (continued)
$	980	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 85 Series 2017C-1, 3.500%, 11/01/26 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB	$	983,734
	44,060	Total Maryland						49,615,133
		Massachusetts – 0.6%
	1,685	Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 – FGIC Insured		No Opt. Call		Aa1		1,868,025
	10,000	Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Refunding Senior Lien Series 2004B, 5.250%, 7/01/20		No Opt. Call		AA		11,120,300
		Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:
	835	5.000%, 7/01/26		7/24 at 100.00		BBB–		917,381
	680	5.000%, 7/01/27		7/24 at 100.00		BBB–		743,648
	925	5.000%, 7/01/28		7/24 at 100.00		BBB–		1,006,918
	960	5.000%, 7/01/29		7/24 at 100.00		BBB–		1,039,920
	2,500	Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.650%, 10/15/28		10/17 at 100.00		N/R		2,504,175
	1,530	Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E, 3.375%, 7/01/36		7/26 at 100.00		BBB		1,408,426
		Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007:
	360	5.000%, 10/01/17		No Opt. Call		N/R		360,061
	515	5.000%, 10/01/18		10/17 at 100.00		N/R		515,968
	450	5.250%, 10/01/37		10/17 at 100.00		N/R		450,207
		Massachusetts Development Finance Authority, Revenue Bonds, Suffolk University, Series 2010:
	915	4.500%, 7/01/21		7/20 at 100.00		Baa2		971,190
	1,765	4.500%, 7/01/22		7/20 at 100.00		Baa2		1,866,611
	1,705	4.625%, 7/01/23		7/20 at 100.00		Baa2		1,813,745
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College, Series 2010:
	500	5.125%, 10/15/22 (Pre-refunded 10/15/19)		10/19 at 100.00		N/R (4)		541,645
	2,595	5.500%, 10/15/26 (Pre-refunded 10/15/19)		10/19 at 100.00		N/R (4)		2,830,782
	1,080	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A, 6.000%, 7/01/24		7/19 at 100.00		BBB		1,167,210
	1,940	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A, 6.000%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		2,107,635
		Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A:
	50	5.200%, 1/01/20 – AMBAC Insured (Alternative Minimum Tax)		12/17 at 100.00		N/R		50,191
	1,465	5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)		1/18 at 100.00		N/R		1,478,507
	32,455	Total Massachusetts						34,762,545
		Michigan – 1.7%
	790	Algonac Community Schools, Saint Clair County, Michigan, General Obligation Bonds, School Building & Site Series 2008-I, 4.000%, 5/01/19 (Pre-refunded 5/01/18) – AGM Insured		5/18 at 100.00		Aa1 (4)		804,094

112 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
		Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development Area 1 Projects, Series 1996B:
$	3,050	0.000%, 7/01/22		No Opt. Call		BB	$	2,430,697
	2,650	0.000%, 7/01/23		No Opt. Call		BB		1,990,998
	2,880	0.000%, 7/01/24		No Opt. Call		BB		2,022,250
	2,675	Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Methodist Hospital, Refunding Series 2003A, 5.000%, 5/15/20 – AGM Insured		5/18 at 100.00		AA		2,742,758
	355	Marquette, Michigan, Electric Utility System Revenue Bonds, Refunding Series 2016A, 5.000%, 7/01/30		7/26 at 100.00		A		414,810
	4,850	Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Sewage Disposal System Local Project, Second Lien Series 2015C, 5.000%, 7/01/34		7/25 at 100.00		A–		5,402,851
	3,540	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/23		11/19 at 100.00		AA+		3,806,597
	1,850	Michigan Municipal Bond Authority, AMBAC Insured Bonds, Series 2007B-A, 5.000%, 12/01/18 – AMBAC Insured		12/17 at 100.00		N/R		1,853,441
	5,000	Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-I-A, 5.000%, 10/15/28		10/21 at 100.00		Aa2		5,634,650
	5,425	Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-II-A, 5.000%, 10/15/28		10/21 at 100.00		Aa2		6,113,595
	1,600	Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/23		11/19 at 100.00		AA+		1,723,024
	4,750	Romulus Community Schools, Wayne County, Michigan, General Obligation Bonds, Refunding Series 2013, 5.000%, 5/01/22		No Opt. Call		Aa1		5,394,195
		Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital Obligated Group, Refunding Series 2014D:
	1,000	5.000%, 9/01/26		3/24 at 100.00		A1		1,158,600
	2,000	5.000%, 9/01/27		3/24 at 100.00		A1		2,303,020
	2,555	5.000%, 9/01/28		3/24 at 100.00		A1		2,919,241
	3,770	5.000%, 9/01/29		3/24 at 100.00		A1		4,289,167
	5,000	5.000%, 9/01/30		3/24 at 100.00		A1		5,663,300
	2,270	5.000%, 9/01/31		3/24 at 100.00		A1		2,561,627
		Walled Lake Consolidated School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2011:
	4,885	5.000%, 5/01/20		No Opt. Call		Aa1		5,341,015
	4,845	5.000%, 5/01/21		11/20 at 100.00		Aa1		5,383,909
	3,845	5.000%, 5/01/22		11/20 at 100.00		Aa1		4,258,645
		Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F:
	3,750	5.000%, 12/01/32 (Alternative Minimum Tax)		12/25 at 100.00		A		4,295,700
	5,295	5.000%, 12/01/33 (Alternative Minimum Tax)		12/25 at 100.00		A		6,032,541
	5,000	5.000%, 12/01/34 (Alternative Minimum Tax)		12/25 at 100.00		A		5,669,400
	1,300	Western Michigan University, General Revenue Bonds, Refunding Series 2008, 5.000%, 11/15/23 (Pre-refunded 5/15/18) – AGM Insured		5/18 at 100.00		AA (4)		1,333,072
	84,930	Total Michigan						91,543,197
		Minnesota – 0.4%
	1,710	Cass Lake Independent School District 115, Minnesota, General Obligation Bonds, School Building Refunding Series 2010A, 5.000%, 2/01/27		2/20 at 100.00		AA+		1,854,085

NUVEEN 113

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
$	500	Center City, Minnesota, Health Care Facilities Revenue Bonds, Hazelden Betty Ford Foundation Project, Series 2014, 5.000%, 11/01/29		11/24 at 100.00		Baa1	$	565,460
	2,155	Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.375%, 11/15/23 (Pre-refunded 11/15/18)		11/18 at 100.00		A+ (4)		2,285,744
	2,650	Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 5.000%, 8/01/18 (ETM)		No Opt. Call		N/R (4)		2,739,305
	1,270	Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 4.250%, 8/01/20 (Pre-refunded 8/01/18)		8/18 at 100.00		N/R (4)		1,304,430
		Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2014A:
	2,580	5.000%, 1/01/25		1/24 at 100.00		A+		3,047,883
	2,005	5.000%, 1/01/32		1/24 at 100.00		A+		2,313,610
	425	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2013A, 4.000%, 1/01/28		1/23 at 100.00		A–		457,504
	650	Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2013, 5.000%, 7/01/33		7/23 at 100.00		A		726,603
		Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Refunding Series 2014B:
	2,060	5.000%, 5/01/23		No Opt. Call		A1		2,422,210
	1,510	5.000%, 5/01/24		No Opt. Call		A1		1,807,228
	490	Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1, 5.000%, 11/15/24		11/19 at 100.00		AA–		529,078
	520	Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1, 5.000%, 11/15/24 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		563,363
	385	Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/21		12/17 at 100.00		N/R		385,678
	18,910	Total Minnesota						21,002,181
		Mississippi – 0.8%
	5,370	Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22		10/17 at 100.00		BBB+		5,419,511
	10,000	Mississippi Business Finance Corporation, Revenue Bonds, Mississippi Power Company Project, First Series 2010, 1.625%, 12/01/40 (Mandatory put 1/12/18)		No Opt. Call		BBB+		10,011,600
	15,000	Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2016A, 5.000%, 9/01/46		9/26 at 100.00		BBB+		16,386,450
	8,860	Mississippi State, General Obligation Bonds, Series 2013B, 5.000%, 12/01/28 (Pre-refunded 12/01/23)		12/23 at 100.00		AA (4)		10,657,162
	39,230	Total Mississippi						42,474,723
		Missouri – 0.9%
	1,515	Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2016A, 6.000%, 3/01/33		3/23 at 103.00		BBB–		1,750,461
		Great Rivers Greenway Metropolitan Park & Recreation District, Missouri, Sales Tax Appropriation Bonds, Gateway Arch Project, Series 2014:
	1,100	3.000%, 12/30/24		12/23 at 100.00		A+		1,170,356
	2,000	4.125%, 12/30/33		12/23 at 100.00		A+		2,144,440

114 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri (continued)
$	1,000	Grundy County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Wright Memorial Hospital, Series 2009, 5.600%, 9/01/21		9/19 at 100.00		BBB–	$	1,060,700
	505	Kansas City, Missouri, Special Obligation Bonds, East Village Project, Series 2008B, 5.000%, 4/15/22 (Pre-refunded 4/15/18) – AGC Insured		4/18 at 100.00		AA (4)		516,297
	2,000	Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Crackerneck Creek Project, Series 2008B, 5.125%, 3/01/22 (Pre-refunded 3/01/18)		3/18 at 100.00		A– (4)		2,035,720
	1,400	Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.250%, 5/01/33		5/23 at 100.00		BBB+		1,542,002
	220	Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2015B, 4.000%, 5/01/32		11/23 at 100.00		BBB		225,738
	1,390	Missouri Health and Educational Facilities Authority, Revenue Bonds, A.T. Still University of Health Sciences, Series 2014, 4.250%, 10/01/32		10/23 at 100.00		A–		1,476,194
	430	Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 4.400%, 2/01/19		No Opt. Call		BBB		447,015
		Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Iatan 2 Project, Refunding Series 2014A:
	1,320	5.000%, 1/01/25		1/24 at 100.00		A2		1,558,537
	2,525	5.000%, 1/01/26		1/24 at 100.00		A2		2,968,264
	1,000	5.000%, 1/01/32		1/24 at 100.00		A2		1,150,150
	4,150	Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2014A, 5.000%, 1/01/23		No Opt. Call		A		4,799,433
	17,305	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/19 – NPFG Insured		No Opt. Call		A		18,565,150
	7,370	Sikeston, Missouri, Electric System Revenue Refunding Bonds, Series 2012, 5.000%, 6/01/18		No Opt. Call		BBB–		7,535,530
	385	St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005A, 5.100%, 11/01/19		11/17 at 100.00		N/R		385,366
	1,195	Stoddard County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Southeasthealth, Series 2016B, 6.000%, 3/01/37		3/23 at 103.00		BBB–		1,371,047
	46,810	Total Missouri						50,702,400
		Montana – 0.6%
	28,165	Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2016, 2.000%, 8/01/23		No Opt. Call		A2		27,912,360
	2,500	Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Composite Deal Series 2010B, 5.000%, 1/01/24		1/20 at 100.00		AA–		2,697,925
	30,665	Total Montana						30,610,285
		Nebraska – 0.8%
	1,130	Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.125%, 1/01/23		1/20 at 100.00		AA		1,198,715
	9,350	Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014, 5.000%, 5/15/44		5/24 at 100.00		BBB+		9,990,194
	655	Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2008, 5.750%, 11/01/28 (Pre-refunded 11/01/18)		11/18 at 100.00		A– (4)		689,243

NUVEEN 115

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nebraska (continued)
$	665	Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012, 4.000%, 6/15/23		6/22 at 100.00		AA–	$	734,911
		Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2015:
	890	5.000%, 12/15/21		No Opt. Call		AA–		1,021,551
	370	5.000%, 12/15/22		No Opt. Call		AA–		431,949
		Lancaster County Hospital Authority 1, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010:
	735	4.750%, 1/01/19		No Opt. Call		AA		767,031
	1,000	5.125%, 1/01/23		1/20 at 100.00		AA		1,079,150
	5,910	Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/32		11/21 at 100.00		A–		6,427,952
		Nebraska Public Power District, General Revenue Bonds, Series 2012A:
	1,465	5.000%, 1/01/23		1/22 at 100.00		A+		1,676,238
	1,500	5.000%, 1/01/24		1/22 at 100.00		A+		1,715,625
	950	5.000%, 1/01/25		1/22 at 100.00		A+		1,085,717
	645	Papillion-LaVista School District 27, Sarpy County, Nebraska, General Obligation Bonds, Series 2014, 5.000%, 12/01/22		No Opt. Call		Aa2		756,224
	8,000	Public Power Generation Agency, Nebraska, Whelan Energy Center Unit 2 Revenue Bonds, Refunding Series 2016A, 5.000%, 1/01/32		7/26 at 100.00		A2		9,303,920
		Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding & Improvement Series 2016A:
	3,660	5.250%, 2/01/28		2/27 at 100.00		N/R		4,130,237
	1,355	5.250%, 2/01/29		2/27 at 100.00		N/R		1,521,191
	38,280	Total Nebraska						42,529,848
		Nevada – 2.3%
	3,230	Clark County School District, Nevada, General Obligation Bonds, Series 2008A, 5.000%, 6/15/24 (Pre-refunded 6/15/18)		6/18 at 100.00		AA– (4)		3,322,410
		Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A:
	2,000	5.000%, 7/01/22 (Alternative Minimum Tax)		No Opt. Call		A+		2,303,740
	1,025	5.000%, 7/01/23 (Alternative Minimum Tax)		1/23 at 100.00		A+		1,189,882
	1,905	5.000%, 7/01/24 (Alternative Minimum Tax)		1/23 at 100.00		A+		2,201,075
	21,050	Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42		1/20 at 100.00		Aa3		23,224,254
	25,495	Clark County, Nevada, General Obligation Bonds, Limited Tax Bond Bank Additionally Secured by SNWA/Southern Nevada Water Authority Pledged Revenues, Series 2008, 5.000%, 6/01/38 (Pre-refunded 6/01/18)		6/18 at 100.00		AA+ (4)		26,210,645
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016:
	1,750	4.000%, 9/01/32		9/26 at 100.00		N/R		1,727,670
	2,275	4.000%, 9/01/35		9/26 at 100.00		N/R		2,193,305
		Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C:
	1,550	5.000%, 6/01/23		6/21 at 100.00		Aa1		1,751,887
	1,000	5.000%, 6/01/24		6/21 at 100.00		Aa1		1,129,490
	12,450	5.000%, 6/01/25		6/21 at 100.00		Aa1		14,052,564

116 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nevada (continued)
		Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B:
$	2,125	5.000%, 6/01/24		6/22 at 100.00		Aa1	$	2,469,696
	1,545	5.000%, 6/01/25		6/22 at 100.00		Aa1		1,792,772
	2,000	5.000%, 6/01/26		6/22 at 100.00		Aa1		2,319,100
		Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, Refunding Series 2013:
	90	4.000%, 6/01/19		No Opt. Call		N/R		91,623
	50	4.000%, 6/01/20		No Opt. Call		N/R		51,434
	365	5.000%, 6/01/22		No Opt. Call		N/R		391,010
	4,685	Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2012B, 5.000%, 8/01/22		No Opt. Call		AA+		5,464,209
	11,150	Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2013D-1, 5.000%, 3/01/22		No Opt. Call		AA+		12,875,908
	3,100	Nevada State, Motor Vehicle Fuel Tax Highway Improvement Revenue Bonds, Refunding Series 2016, 5.000%, 12/01/18		No Opt. Call		AAA		3,246,599
	7,010	Washoe County, Nevada, Gas and Water Facilities Revenue Bonds, Sierra Pacific Power Company, Refunding Series 2016B, 3.000%, 3/01/36 (Mandatory put 6/01/22)		No Opt. Call		A+		7,360,079
		Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011:
	3,265	5.000%, 7/01/22		7/21 at 100.00		AA		3,683,312
	4,710	5.000%, 7/01/23		7/21 at 100.00		AA		5,331,814
	1,510	Washoe County, Nevada, Highway Revenue, Motor Vehicle Fuel Tax Bonds, Series 2013, 5.000%, 2/01/43		2/19 at 100.00		A+		1,578,916
	115,335	Total Nevada						125,963,394
		New Hampshire – 0.1%
	895	Business Finance Authority of the State of New Hampshire, Water Facility Revenue Bonds, Pennichuck Water Works, Inc. Project ,Series 2015A, 4.250%, 1/01/36 (Alternative Minimum Tax)		1/26 at 100.00		A+		921,984
	5,725	New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Refunding Series 2009, 5.250%, 6/01/39 (Pre-refunded 6/01/19)		6/19 at 100.00		AA+ (4)		6,129,872
	1,840	New Hampshire Health and Education Facilities Authority, Revenue Bonds, Elliot Hospital, Series 2016, 5.000%, 10/01/38		10/26 at 100.00		Baa1		2,029,189
	1,245	New Hampshire Health and Education Facilities Authority, Revenue Bonds, Southern New Hampshire Medical Center, Series 2016, 3.500%, 10/01/34		10/26 at 100.00		A–		1,246,905
	9,705	Total New Hampshire						10,327,950
		New Jersey – 5.8%
		Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Refunding Series 2014A:
	2,500	5.000%, 2/15/30		2/24 at 100.00		BBB+		2,799,575
	1,045	5.000%, 2/15/34		2/24 at 100.00		BBB+		1,149,542
	8,535	Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (Alternative Minimum Tax)		No Opt. Call		BBB–		9,341,558

NUVEEN 117

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
		New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:
$	5,155	5.000%, 6/15/19		No Opt. Call		BBB+	$	5,423,782
	5,905	5.000%, 6/15/20		No Opt. Call		BBB+		6,361,988
	13,995	5.000%, 6/15/21		No Opt. Call		BBB+		15,391,281
	2,465	5.000%, 6/15/22		No Opt. Call		BBB+		2,752,197
	1,100	5.000%, 6/15/22		No Opt. Call		AA		1,239,953
	7,180	5.000%, 6/15/23		6/22 at 100.00		BBB+		7,952,640
	2,965	5.000%, 6/15/24		6/22 at 100.00		BBB+		3,266,926
	7,615	5.000%, 6/15/25		6/22 at 100.00		BBB+		8,337,511
	4,950	5.000%, 6/15/26		6/22 at 100.00		BBB+		5,387,085
	925	4.250%, 6/15/27		6/22 at 100.00		BBB+		958,476
	4,625	5.000%, 6/15/28		6/22 at 100.00		BBB+		4,988,062
		New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013:
	1,350	5.000%, 1/01/28 (Alternative Minimum Tax)		1/24 at 100.00		BBB		1,495,584
	2,215	5.000%, 1/01/31 – AGM Insured (Alternative Minimum Tax)		1/24 at 100.00		AA		2,471,209
	7,985	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 3.375%, 7/01/30		7/27 at 100.00		BBB+		7,786,253
	25,000	New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2015XX, 5.000%, 6/15/27		6/25 at 100.00		A–		27,808,000
	375	New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2016C, 3.000%, 7/01/41		7/26 at 100.00		A–		345,368
	4,125	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Inspira Health Obligated Group Issue, Series 2017A, 5.000%, 7/01/42		7/27 at 100.00		A2		4,687,196
		New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s Healthcare System Obligated Group Issue, Refunding Series 2016:
	1,000	5.000%, 7/01/35		7/26 at 100.00		BBB–		1,105,080
	5,925	5.000%, 7/01/41		7/26 at 100.00		BBB–		6,459,198
		New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A:
	4,330	3.500%, 12/01/29 (Alternative Minimum Tax)		12/26 at 100.00		Aaa		4,295,317
	11,705	3.750%, 12/01/31 (Alternative Minimum Tax)		12/26 at 100.00		Aaa		11,785,647
	11,975	4.000%, 12/01/32 (Alternative Minimum Tax)		12/26 at 100.00		Aaa		12,279,883
	5,000	3.750%, 12/01/33 (Alternative Minimum Tax)		12/26 at 100.00		Aaa		4,969,800
	20,000	New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-2, 5.000%, 6/15/30		6/18 at 100.00		A+		20,454,000
	1,440	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/31 – FGIC Insured		No Opt. Call		A		823,651
	10,630	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/23		No Opt. Call		A–		11,958,325
	3,695	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.500%, 6/15/31		6/21 at 100.00		A–		4,052,380
	14,000	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA, 5.000%, 6/15/22		No Opt. Call		A–		15,537,060
	20,200	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013A, 5.000%, 6/15/20		No Opt. Call		A–		21,814,586

118 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:
$	1,810	5.250%, 6/15/33		6/25 at 100.00		A–	$	1,997,896
	1,850	5.250%, 6/15/34		6/25 at 100.00		A–		2,034,944
	5,615	Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (Alternative Minimum Tax)		No Opt. Call		BBB–		6,089,468
		South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Refunding Series 2012Q:
	4,505	3.000%, 1/01/20		No Opt. Call		Baa1		4,602,804
	2,950	3.000%, 1/01/21		No Opt. Call		Baa1		3,019,030
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:
	5,925	4.500%, 6/01/23		12/17 at 100.00		BBB+		5,930,629
	3,430	4.625%, 6/01/26		12/17 at 100.00		BBB		3,433,258
	20,705	5.000%, 6/01/29		12/17 at 100.00		BBB–		20,706,035
	11,300	4.750%, 6/01/34		12/17 at 100.00		BB–		11,045,976
	18,570	5.000%, 6/01/41		12/17 at 100.00		B		18,157,746
	296,570	Total New Jersey						312,496,899
		New Mexico – 0.2%
	14,850	New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19)		8/19 at 100.00		A1		15,794,460
		New York – 5.0%
	4,060	Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 6.000%, 7/15/30 (Pre-refunded 1/15/20)		1/20 at 100.00		AA+ (4)		4,523,043
		Buffalo and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds, Refunding Series 2014:
	300	5.000%, 1/01/24		No Opt. Call		A+		358,704
	500	5.000%, 1/01/25		No Opt. Call		A+		606,465
	5,130	Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College, Series 2009, 5.000%, 7/01/24		7/19 at 100.00		Baa2		5,440,314
		Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017:
	1,900	5.000%, 12/01/25		No Opt. Call		Baa3		2,175,234
	1,400	5.000%, 12/01/27		6/27 at 100.00		Baa3		1,607,928
	1,300	5.000%, 12/01/29		6/27 at 100.00		Baa3		1,467,297
	1,500	5.000%, 12/01/32		6/27 at 100.00		Baa3		1,668,870
	7,050	Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds, Upstate Community Colleges, Series 2005A, 5.500%, 7/01/20 – FGIC Insured		No Opt. Call		AA		7,887,469
	6,665	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014A, 5.000%, 2/15/21		No Opt. Call		AAA		7,495,526
		Dormitory Authority of the State of New York, State University Educational Facilities Revenue Bonds, Third General Resolution, Series 2012A:
	10,045	5.000%, 5/15/24		5/22 at 100.00		AA		11,615,134
	9,285	5.000%, 5/15/25		5/22 at 100.00		AA		10,727,332
		Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A:
	110	0.000%, 6/01/22 – AGM Insured		No Opt. Call		AA		101,089
	1,055	0.000%, 6/01/23 – AGM Insured		No Opt. Call		AA		943,455

NUVEEN 119

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	5,400	Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/34		9/24 at 100.00		A–	$	6,182,946
	200	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.000%, 4/01/19 (ETM)		No Opt. Call		A– (4)		212,048
	415	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 6.250%, 4/01/33 (Pre-refunded 4/01/19)		4/19 at 100.00		A– (4)		447,802
		Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A:
	135	5.250%, 4/01/20		4/19 at 100.00		A–		142,941
	545	5.250%, 4/01/21		4/19 at 100.00		A–		576,550
	1,745	5.500%, 4/01/22		4/19 at 100.00		A–		1,850,346
	260	5.000%, 4/01/23		4/19 at 100.00		A–		272,771
	90	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.250%, 4/01/20 (Pre-refunded 4/01/19)		4/19 at 100.00		N/R (4)		95,772
	1,235	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012B, 5.000%, 9/01/26		9/22 at 100.00		A–		1,421,596
		Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B:
	655	5.000%, 7/01/30		7/24 at 100.00		A–		742,469
	2,455	5.000%, 7/01/32		7/24 at 100.00		A–		2,759,518
		Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014:
	1,500	5.000%, 7/01/28		7/24 at 100.00		A–		1,717,170
	1,000	5.000%, 7/01/29		7/24 at 100.00		A–		1,138,480
	10,000	New York City, New York, General Obligation Bonds, Fiscal 2003 Series C-A. RMKT, 5.000%, 8/01/19		No Opt. Call		AA		10,720,200
	20,000	New York City, New York, General Obligation Bonds, Fiscal 2015 Series A, 5.000%, 8/01/20		No Opt. Call		AA		22,152,200
	15,440	New York City, New York, General Obligation Bonds, Fiscal 2016 Series C, 5.000%, 8/01/19		No Opt. Call		AA		16,551,989
	6,995	New York City, New York, General Obligation Bonds, Fiscal 2018 Series A, 5.000%, 8/01/19		No Opt. Call		AA		7,498,780
	50	New York City, New York, General Obligation Bonds, Fiscal Series 2007C-1, 5.000%, 10/01/18		10/17 at 100.00		AA		50,173
	27,690	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A–		29,368,014
		New York Transportation Development Corporation, New York, Special Facility Revenue Refunding Bonds, Terminal One Group Association, L.P. Project, Series 2015:
	2,005	5.000%, 1/01/22 (Alternative Minimum Tax)		No Opt. Call		A–		2,264,888
	2,065	5.000%, 1/01/23 (Alternative Minimum Tax)		No Opt. Call		A–		2,358,127
		New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A:
	1,390	5.000%, 7/01/30 (Alternative Minimum Tax)		7/24 at 100.00		BBB		1,566,030
	2,045	4.000%, 7/01/32 (Alternative Minimum Tax)		7/24 at 100.00		BBB		2,142,342
	8,075	4.000%, 7/01/33 (Alternative Minimum Tax)		7/24 at 100.00		BBB		8,431,350
	7,315	5.000%, 7/01/34 (Alternative Minimum Tax)		7/24 at 100.00		BBB		8,062,154
	6,260	4.000%, 7/01/35 – AGM Insured (Alternative Minimum Tax)		7/24 at 100.00		AA		6,530,870
	10,050	5.000%, 7/01/41 (Alternative Minimum Tax)		7/24 at 100.00		BBB		11,102,134
	2,045	4.000%, 7/01/41 (Alternative Minimum Tax)		7/24 at 100.00		BBB		2,063,610
	27,480	5.000%, 7/01/46 (Alternative Minimum Tax)		7/24 at 100.00		BBB		30,248,335

120 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	1,000	Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph’s Hospital Health Center Project, Series 2014A, 5.125%, 7/01/31 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)	$	1,070,500
	10,025	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/25		12/23 at 100.00		AA–		11,988,396
	795	Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42		12/20 at 100.00		Baa1		887,824
		Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014:
	2,435	5.000%, 7/01/28		7/24 at 100.00		A–		2,787,539
	2,695	5.000%, 7/01/29		7/24 at 100.00		A–		3,068,204
	4,200	5.000%, 7/01/30		7/24 at 100.00		A–		4,760,868
	2,100	5.000%, 7/01/31		7/24 at 100.00		A–		2,370,081
	1,335	5.000%, 7/01/32		7/24 at 100.00		A–		1,500,593
	3,080	5.000%, 7/01/33		7/24 at 100.00		A–		3,448,029
	242,505	Total New York						267,171,499
		North Carolina – 0.8%
	610	North Carolina Capital Facilities Finance Agency, Revenue Bonds, The Methodist University, Series 2012, 3.750%, 3/01/24		3/22 at 100.00		BBB		647,253
	795	North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Series 2008A, 5.250%, 6/01/20		6/18 at 100.00		BBB+		815,185
	105	North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Series 2008A, 5.250%, 6/01/20 (Pre-refunded 6/01/18)		6/18 at 100.00		N/R (4)		108,073
	1,700	North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 2008A, 5.250%, 1/01/22 (Pre-refunded 1/01/18) – AGC Insured		1/18 at 100.00		AAA		1,718,938
	2,055	North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2009A, 5.500%, 1/01/26 (Pre-refunded 1/01/19)		1/19 at 100.00		AAA		2,171,128
		North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2012B:
	5,020	5.000%, 1/01/20 (ETM)		No Opt. Call		AAA		5,458,397
	10,040	5.000%, 1/01/21 (ETM)		No Opt. Call		AAA		11,288,675
	3,570	North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/26 (Pre-refunded 1/01/19)		1/19 at 100.00		AAA		3,748,607
	1,430	North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/26		1/19 at 100.00		A		1,498,039
	11,600	North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2015C, 5.000%, 1/01/29		1/26 at 100.00		A		13,807,828
	200	University of North Carolina, Greensboro, General Revenue Bonds, Series 2014, 4.000%, 4/01/19		No Opt. Call		Aa3		208,806
	37,125	Total North Carolina						41,470,929

NUVEEN 121

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Dakota – 0.4%
		Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Series 2014A:
$	120	5.000%, 7/01/23 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)	$	136,267
	1,240	5.000%, 7/01/26 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,408,094
	2,835	5.000%, 7/01/27 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		3,219,313
	1,485	5.000%, 7/01/28 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,686,307
	1,000	5.000%, 7/01/31 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,135,560
	2,955	5.000%, 7/01/35 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		3,355,580
	2,750	Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31		11/21 at 100.00		A+		3,221,982
		North Dakota Board of Higher Education, Housing and Auxiliary Facilities Revenue Bonds, North Dakota State University, Series 2017A:
	365	3.000%, 4/01/33		4/27 at 100.00		AA–		354,112
	1,705	3.125%, 4/01/34		4/27 at 100.00		AA–		1,658,249
	1,395	3.250%, 4/01/35		4/27 at 100.00		AA–		1,362,664
	1,850	3.250%, 4/01/36		4/27 at 100.00		AA–		1,792,299
		North Dakota Board of Higher Education, Housing and Auxiliary Facilities Revenue Bonds, North Dakota State University, Series 2017B:
	1,260	3.125%, 4/01/34		4/27 at 100.00		AA–		1,225,451
	1,280	3.250%, 4/01/35		4/27 at 100.00		AA–		1,250,330
	150	3.250%, 4/01/36		4/27 at 100.00		AA–		145,322
	20,390	Total North Dakota						21,951,530
		Ohio – 4.6%
	1,900	Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and Improvement Series 2012A, 5.000%, 5/01/33		5/22 at 100.00		AA–		2,081,355
	1,260	Barberton City School District, Summit County, Ohio, General Obligation Bonds, School Improvement Series 2008, 4.750%, 12/01/21 (Pre-refunded 6/01/18)		6/18 at 100.00		AA (4)		1,292,710
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
	3,300	5.375%, 6/01/24		12/17 at 100.00		B–		3,217,335
	71,975	5.125%, 6/01/24		12/17 at 100.00		B–		68,415,116
	11,965	5.875%, 6/01/30		12/17 at 100.00		B–		11,637,159
	5,155	5.750%, 6/01/34		12/17 at 100.00		B–		4,990,349
	5,450	Cincinnati, Ohio, General Obligation Bonds, Various Purpose, Refunding & Improvement Series 2016A, 4.000%, 12/01/19		No Opt. Call		AA		5,791,879
		Cleveland, Ohio, Airport System Revenue Bonds, Refunding Series 2016A:
	1,250	5.000%, 1/01/25 – AGM Insured		No Opt. Call		AA		1,495,525
	1,525	5.000%, 1/01/28 – AGM Insured		1/25 at 100.00		AA		1,770,998
	2,230	5.000%, 1/01/29 – AGM Insured		1/25 at 100.00		AA		2,573,755
	2,000	5.000%, 1/01/30 – AGM Insured		1/25 at 100.00		AA		2,298,340
	1,800	5.000%, 1/01/31 – AGM Insured		1/25 at 100.00		AA		2,057,040
	3,240	Cleveland, Ohio, Airport System Revenue Bonds, Series 2009C, 5.000%, 1/01/21 – AGM Insured		1/19 at 100.00		AA		3,385,022
		Cleveland, Ohio, General Obligation Bonds, Series 2011:
	1,700	5.000%, 12/01/22 (Pre-refunded 12/01/19)		12/19 at 100.00		AA+ (4)		1,844,126
	1,780	5.000%, 12/01/23 (Pre-refunded 12/01/19)		12/19 at 100.00		AA+ (4)		1,930,908
	470	Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.500%, 8/15/24		8/18 at 100.00		A3		487,019

122 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	2,435	Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.500%, 8/15/24 (Pre-refunded 8/15/18)		8/18 at 100.00		N/R (4)	$	2,532,083
	7,450	Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/27		2/23 at 100.00		BB+		8,027,300
		New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C:
	775	4.000%, 10/01/18		No Opt. Call		Aa3		795,166
	870	4.000%, 10/01/19		No Opt. Call		Aa3		913,430
	1,150	4.000%, 10/01/20		No Opt. Call		Aa3		1,229,442
	1,205	5.000%, 10/01/21		No Opt. Call		Aa3		1,353,119
	965	5.000%, 10/01/22		No Opt. Call		Aa3		1,103,227
	840	Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20		No Opt. Call		Caa1		384,300
	4,260	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 (Mandatory put 3/01/19)		No Opt. Call		Caa1		1,948,950
	11,500	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18		No Opt. Call		B1		11,427,550
	28,210	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18)		No Opt. Call		Caa1		12,906,075
	915	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 (Mandatory put 7/02/18)		No Opt. Call		Caa1		418,613
	3,440	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2006B, 3.625%, 12/01/33 (Mandatory put 6/01/20)		No Opt. Call		Caa1		1,573,800
	240	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008C, 3.950%, 11/01/32 (Mandatory put 5/01/20) (Alternative Minimum Tax)		No Opt. Call		Caa1		109,800
	7,500	Ohio State, General Obligation Bonds, Highway Capital Improvement Series 2012Q, 5.000%, 5/01/21		No Opt. Call		AAA		8,500,950
	7,000	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011B, 4.000%, 9/15/21		No Opt. Call		AA+		7,748,860
	24,230	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2014A, 5.000%, 9/15/19		No Opt. Call		AA+		26,085,291
	8,160	Ohio State, General Obligation Bonds, Refunding Higher Education Series 2012C, 5.000%, 8/01/21		No Opt. Call		AA+		9,316,435
	5,170	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc., Refunding Series 2016A, 5.000%, 1/15/41		1/26 at 100.00		A		5,731,721
	8,240	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21)		No Opt. Call		Caa1		3,769,800
	3,565	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19		No Opt. Call		Caa1		1,630,988
	2,315	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory put 6/03/19)		No Opt. Call		Caa1		1,059,113

NUVEEN 123

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	8,415	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010A, 3.750%, 7/01/33 (Mandatory put 7/01/20)		No Opt. Call		Caa1	$	3,849,862
	12,010	Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Series 2014, 5.000%, 6/01/21		No Opt. Call		AAA		13,646,843
	500	Richland County, Ohio, General Obligation Bonds, Correctional Facilities Improvement Refunding Series 2008, 5.875%, 12/01/24 (Pre-refunded 12/01/18) – AGC Insured		12/18 at 100.00		A2 (4)		528,955
	2,935	Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 5.375%, 3/01/27		3/25 at 100.00		N/R		3,077,494
	271,295	Total Ohio						244,937,803
		Oklahoma – 1.6%
		Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012:
	2,290	4.500%, 9/01/21		No Opt. Call		A+		2,549,434
	1,415	4.000%, 9/01/23		9/21 at 100.00		A+		1,529,007
		Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2016:
	2,940	5.000%, 6/01/21		No Opt. Call		A+		3,316,379
	7,450	5.000%, 6/01/22		No Opt. Call		A+		8,569,884
	3,030	5.000%, 6/01/23		No Opt. Call		A+		3,545,221
		Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Elgin Public Schools Project, Series 2017A:
	1,470	5.000%, 12/01/28		12/27 at 100.00		A		1,774,011
	1,410	5.000%, 12/01/31		12/27 at 100.00		A		1,671,893
		Garfield County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A:
	3,165	5.000%, 9/01/30		9/26 at 100.00		A		3,721,312
	3,145	5.000%, 9/01/31		9/26 at 100.00		A		3,682,418
		Lincoln County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Stroud Public Schools Project, Series 2016:
	1,000	5.000%, 9/01/20		No Opt. Call		A		1,094,670
	2,115	5.000%, 9/01/22		No Opt. Call		A		2,410,973
	1,000	5.000%, 9/01/23		No Opt. Call		A		1,157,460
	1,870	5.000%, 9/01/24		No Opt. Call		A		2,190,032
	2,490	5.000%, 9/01/26		No Opt. Call		A		2,939,893
		Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2014:
	750	5.000%, 9/01/22		No Opt. Call		A–		851,190
	500	3.000%, 9/01/23		No Opt. Call		A–		520,300
	600	5.000%, 9/01/24		No Opt. Call		A–		700,182
	1,505	5.000%, 9/01/25		No Opt. Call		A–		1,773,056
		Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A:
	3,210	5.625%, 6/01/38 – BAM Insured (Alternative Minimum Tax)		6/23 at 100.00		AA		3,660,716
	3,070	5.625%, 6/01/43 – BAM Insured (Alternative Minimum Tax)		6/23 at 100.00		AA		3,483,897

124 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016:
$	3,350	5.000%, 9/01/25		9/23 at 100.00		AA–	$	3,941,342
	10,675	5.000%, 9/01/26		9/23 at 100.00		AA–		12,478,755
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2015:
	6,150	5.000%, 9/01/25		No Opt. Call		AA–		7,403,739
	7,845	5.000%, 9/01/26		9/25 at 100.00		AA–		9,431,651
	72,445	Total Oklahoma						84,397,415
		Oregon – 0.8%
	2,500	Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Convertible Deferred Interest Series 2017D, 0.000%, 6/15/36		6/27 at 100.00		AA+		2,838,550
	1,190	Clackamas Community College District, Oregon, General Obligation Bonds, Deferred Interest Series 2017A, 0.000%, 6/15/40 (7)		6/27 at 100.00		Aa1		1,226,664
	4,145	Clackamas Community College District, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/15/20 – FGIC Insured		No Opt. Call		Aa1		4,565,303
	7,500	Oregon Department of Administrative Services, State Lottery Revenue Bonds, Refunding Series 2015D, 5.000%, 4/01/21		No Opt. Call		AAA		8,482,425
	4,000	Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2009A, 5.000%, 11/15/22 (Pre-refunded 5/15/19)		5/19 at 100.00		AAA		4,259,360
	11,120	Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2013A, 5.000%, 11/15/38		11/23 at 100.00		AAA		13,083,792
		Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Hospital Project, Refunding Series 2016A:
	3,425	5.000%, 5/15/32		5/26 at 100.00		A+		3,953,443
	1,925	5.000%, 5/15/33		5/26 at 100.00		A+		2,204,664
	35,805	Total Oregon						40,614,201
		Pennsylvania – 4.5%
	2,265	Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center System, Series 2008B, 5.000%, 6/15/18		No Opt. Call		AA–		2,329,575
	1,000	Allegheny County, Pennsylvania, General Obligation Bonds, Series C69-C70 of 2012, 5.000%, 12/01/25		12/22 at 100.00		AA–		1,159,120
	1,300	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A, 3.500%, 4/01/41 (Mandatory put 6/01/20)		No Opt. Call		Caa1		594,750
	3,480	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20)		No Opt. Call		Caa1		1,592,100
	5,420	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (Mandatory put 4/02/18)		No Opt. Call		Caa1		2,479,650
	1,315	Bethel Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2009, 4.125%, 8/01/20 (Pre-refunded 8/01/19)		8/19 at 100.00		Aa2 (4)		1,388,351

NUVEEN 125

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008:
$	535	5.250%, 10/01/20 (Pre-refunded 10/01/18)		10/18 at 100.00		BBB (4)	$	558,048
	565	5.375%, 10/01/21 (Pre-refunded 10/01/18)		10/18 at 100.00		BBB (4)		590,046
		Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann University, Series 2010:
	1,000	5.000%, 10/01/21		10/20 at 100.00		BBB		1,093,670
	1,050	5.000%, 10/01/25		10/20 at 100.00		BBB		1,139,681
		Indiana County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Indiana Regional Medical Center, Series 2014A:
	200	4.000%, 6/01/19		No Opt. Call		Ba1		203,294
	410	5.000%, 6/01/22		No Opt. Call		Ba1		443,513
	790	5.000%, 6/01/24		6/23 at 100.00		Ba1		858,619
	520	5.000%, 6/01/25		6/23 at 100.00		Ba1		561,480
	370	5.125%, 6/01/26		6/23 at 100.00		Ba1		401,069
	460	5.375%, 6/01/28		6/23 at 100.00		Ba1		497,361
	8,075	Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016A, 1.800%, 9/01/29 (Mandatory put 9/01/22)		No Opt. Call		A		8,037,371
	10,520	Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016B, 1.800%, 2/15/27 (Mandatory put 8/15/22)		No Opt. Call		A		10,440,574
	3,140	Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.750%, 12/15/27		12/19 at 100.00		N/R		3,267,641
	5,900	Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, PECO Energy Company Project, Refunding Series 1996A, 2.600%, 3/01/34 (Mandatory put 9/01/20)		No Opt. Call		BBB		5,950,740
	7,355	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor., Series 2005A, 3.750%, 12/01/40 (Mandatory put 7/01/20)		No Opt. Call		Caa1		3,364,913
	3,095	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor., Series 2006A, 2.550%, 11/01/41 (Mandatory put 12/03/18)		No Opt. Call		Caa1		1,415,963
	2,625	Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19)		10/19 at 100.00		N/R (4)		2,847,862
		Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol Region Parking System, Junior Guaranteed Series 2013B:
	1,975	5.500%, 1/01/25		1/24 at 100.00		AA		2,361,527
	2,265	5.500%, 1/01/26		1/24 at 100.00		AA		2,677,728
	2,260	5.500%, 1/01/27		1/24 at 100.00		AA		2,657,444
		Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol Region Parking System, Junior Insured Series 2013C:
	500	5.500%, 1/01/25 – AGM Insured		1/24 at 100.00		AA		597,855
	1,095	5.500%, 1/01/26 – AGM Insured		1/24 at 100.00		AA		1,294,531
	2,505	5.500%, 1/01/28 – AGM Insured		1/24 at 100.00		AA		2,929,673
	2,050	5.500%, 1/01/29 – AGM Insured		1/24 at 100.00		AA		2,387,245
	1,255	5.500%, 1/01/31 – AGM Insured		1/24 at 100.00		AA		1,451,269
	10,500	Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2017A, 1.700%, 8/01/37 (Mandatory put 8/03/20) (Alternative Minimum Tax)		No Opt. Call		A–		10,477,530

126 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B:
$	2,275	5.000%, 1/01/21		1/19 at 100.00		Aaa	$	2,388,523
	9,575	5.000%, 7/01/21		1/18 at 100.00		Aaa		9,830,269
	4,035	5.000%, 1/01/22		12/17 at 100.00		Aaa		4,070,710
	19,820	Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-120, 3.100%, 10/01/36		10/25 at 100.00		AA+		18,939,001
		Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-121:
	7,500	2.800%, 10/01/31		10/25 at 100.00		AA+		7,290,900
	12,245	3.100%, 10/01/36		10/25 at 100.00		AA+		11,867,487
	2,000	Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2014A, 0.000%, 12/01/34 (7)		No Opt. Call		AA–		1,855,620
	16,080	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 0.000%, 12/01/38 (7)		12/27 at 100.00		A–		19,909,130
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2:
	5,875	5.000%, 6/01/25		No Opt. Call		A3		6,987,079
	12,580	5.000%, 6/01/29		6/26 at 100.00		A3		14,681,741
	11,420	5.000%, 6/01/35		6/26 at 100.00		A3		12,919,332
	12,005	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/24		No Opt. Call		A1		14,418,965
	1,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2016A-1, 5.000%, 12/01/29		6/26 at 100.00		A1		1,180,540
	7,445	Philadelphia Authority For Industrial Development, Pennsylvania, Revenue Bonds, Cultural and Commercial Corridors Program, Refunding Series 2016A, 5.000%, 12/01/29		12/25 at 100.00		A+		8,525,418
	3,015	Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Ninth Series, 2010, 5.000%, 8/01/30 (Pre-refunded 8/01/20)		8/20 at 100.00		A (4)		3,346,137
	2,650	Quakertown General Authority Health Facilities Revenue USDA Loan Anticipation Notes and Revenue Bonds for LifeQuest Obligated Group, Pennsylvania, Series 2017A, 3.125%, 7/01/21		7/19 at 100.00		N/R		2,651,272
	11,050	Sayre Healthcare Facility Authority, Pennsylvania, Revenue Bonds, Guthrie Healthcare System, Series 2007, 1.662%, 12/01/24 (3-Month LIBOR* 67% + 0.78% spread) (13)		12/17 at 100.00		AA–		10,758,170
	2,355	Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, Marywood University, Series 2016, 3.375%, 6/01/26		No Opt. Call		BB+		2,239,629
		Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013:
	1,400	5.000%, 12/01/19		No Opt. Call		BBB		1,502,284
	730	5.000%, 12/01/20		No Opt. Call		BBB		802,328
	1,105	5.000%, 12/01/21		No Opt. Call		BBB		1,235,688
	1,625	5.000%, 12/01/22		No Opt. Call		BBB		1,842,116
	1,705	5.000%, 12/01/23		6/23 at 100.00		BBB		1,935,806
	1,795	5.000%, 12/01/24		6/23 at 100.00		BBB		2,018,908
	60	Trinity Area School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2012, 4.000%, 11/01/19 – AGM Insured		No Opt. Call		A2		63,204
	105	Trinity Area School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2012, 4.000%, 11/01/19 – AGM Insured (ETM)		No Opt. Call		A2 (4)		111,262
	237,245	Total Pennsylvania						241,421,712

NUVEEN 127

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Rhode Island – 0.3%
$	4,340	Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England Health System, Series 2013A, 5.500%, 9/01/28 (Pre-refunded 9/01/23)		9/23 at 100.00		BB (4)	$	5,252,615
	104,145	Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52		12/17 at 100.00		CCC+		10,742,557
	108,485	Total Rhode Island						15,995,172
		South Carolina – 0.9%
	2,015	Anderson County School District 5, South Carolina, General Obligation Bonds, Refunding Series 2016, 5.000%, 3/01/20		No Opt. Call		Aa1		2,202,314
	5,770	Greenville Hospital System Board of Trustees, South Carolina, Hospital Revenue Bonds, Series 2014B, 5.000%, 5/01/34		5/24 at 100.00		AA–		6,495,520
		South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2012:
	1,850	5.000%, 11/01/20		No Opt. Call		A		2,055,554
	7,500	5.000%, 11/01/27		11/22 at 100.00		A		8,531,400
	1,225	5.000%, 11/01/29		11/22 at 100.00		A		1,382,951
		South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, FMU Student Housing LLC – Francis Marion University Project, Series 2014A:
	1,910	5.000%, 8/01/27		8/24 at 100.00		Baa3		2,079,188
	3,925	5.000%, 8/01/32		8/24 at 100.00		Baa3		4,191,508
	1,000	South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding & Improvement Series 2009, 5.000%, 8/01/18		No Opt. Call		BBB+		1,030,240
	3,000	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A, 5.000%, 12/01/31		6/25 at 100.00		A+		3,412,770
		South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A:
	7,000	5.000%, 12/01/29		6/26 at 100.00		A+		8,122,590
	3,835	5.000%, 12/01/31		6/26 at 100.00		A+		4,423,021
	500	Spartanburg Regional Health Services District Inc., South Carolina, Hospital Revenue Bonds, Refunding Series 2008D, 5.250%, 4/15/20		4/18 at 100.00		AA		511,540
	1,450	Spartanburg Regional Health Services District, Inc., South Carolina, Hospital Revenue Refunding Bonds, Series 2012A, 5.000%, 4/15/32		4/22 at 100.00		A		1,606,107
	40,980	Total South Carolina						46,044,703
		South Dakota – 0.1%
		South Dakota Building Authority, Revenue Bonds, Series 2013B:
	525	5.000%, 6/01/22		No Opt. Call		AA+		608,575
	1,000	5.000%, 6/01/24		6/23 at 100.00		AA+		1,174,250
	2,410	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 5.000%, 9/01/31		9/27 at 100.00		A1		2,848,162
	1,000	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2009, 5.000%, 11/01/24		11/19 at 100.00		A+		1,070,690
	1,500	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Vocational Education Program, Series 2008, 5.125%, 8/01/28 (Pre-refunded 8/01/18) – AGC Insured		8/18 at 100.00		AA+ (4)		1,552,380
	6,435	Total South Dakota						7,254,057

128 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee – 1.3%
$	2,265	Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		10/18 at 100.00		BBB+	$	2,376,755
	2,265	Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2014A, 5.000%, 10/01/28		10/24 at 100.00		BBB+		2,555,011
	3,460	Claiborne County, Tennessee, Industrial Development Board, Revenue Refunding Bonds, Lincoln Memorial University Project, Series 2009, 6.125%, 10/01/29		10/19 at 100.00		N/R		3,616,150
	985	Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Refunding & Improvement Series 2008, 5.250%, 4/01/23		4/18 at 100.00		A+		1,004,956
	2,665	Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Refunding & Improvement Series 2008, 5.250%, 4/01/23 (Pre-refunded 4/01/18)		4/18 at 100.00		N/R (4)		2,724,509
		Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017:
	3,160	5.000%, 4/01/29		4/27 at 100.00		BBB+		3,638,456
	2,500	5.000%, 4/01/30		4/27 at 100.00		BBB+		2,861,375
	2,725	5.000%, 4/01/31		4/27 at 100.00		BBB+		3,097,943
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A:
	1,400	4.000%, 1/01/22		No Opt. Call		A		1,528,604
	3,180	5.000%, 1/01/23		No Opt. Call		A		3,670,769
	1,300	4.000%, 1/01/23		No Opt. Call		A		1,435,902
	1,805	5.000%, 1/01/24		1/23 at 100.00		A		2,075,750
		Memphis and Shelby County Port Commission, Tennessee, Port Development Revenue Bonds, Series 2011:
	1,480	5.250%, 4/01/23		4/21 at 100.00		AA–		1,667,501
	1,560	5.250%, 4/01/24		4/21 at 100.00		AA–		1,754,501
	1,240	5.250%, 4/01/25		4/21 at 100.00		AA–		1,394,603
	3,175	Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2007C, 5.000%, 11/01/17 – NPFG Insured		No Opt. Call		AA–		3,186,367
	4,430	Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009A, 5.125%, 11/01/24		11/19 at 100.00		AA–		4,773,546
		Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009B:
	1,000	5.500%, 11/01/20		11/19 at 100.00		AA–		1,088,430
	1,860	5.250%, 11/01/25		11/19 at 100.00		AA–		2,012,167
	8,255	Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/35		7/26 at 100.00		A3		9,374,708
	12,060	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/20		No Opt. Call		A		13,322,561
	62,770	Total Tennessee						69,160,564
		Texas – 6.2%
	1,085	Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A, 5.000%, 1/01/30		1/27 at 100.00		BBB+		1,268,745
	3,370	Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 1/01/33		1/23 at 100.00		BBB+		3,707,371

NUVEEN 129

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	3,405	Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.250%, 1/01/46 (Pre-refunded 1/01/21)		1/21 at 100.00		BBB+ (4)	$	3,948,778
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A:
	1,945	5.000%, 1/01/32		7/25 at 100.00		BBB+		2,228,231
	1,390	5.000%, 1/01/33		7/25 at 100.00		BBB+		1,585,156
	1,165	5.000%, 1/01/34		7/25 at 100.00		BBB+		1,325,106
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016:
	2,000	5.000%, 1/01/33		1/26 at 100.00		BBB+		2,296,800
	2,000	5.000%, 1/01/34		1/26 at 100.00		BBB+		2,290,500
	1,650	5.000%, 1/01/35		1/26 at 100.00		BBB+		1,881,891
	1,625	5.000%, 1/01/36		1/26 at 100.00		BBB+		1,848,291
	1,060	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 3.750%, 8/15/22		No Opt. Call		BBB+		1,106,576
	2,800	Conroe Independent School District, Montgomery County, Texas, General Obligation Bonds, Refunding School Building Series 2012, 5.000%, 2/15/26		2/21 at 100.00		AAA		3,139,024
	5,200	Conroe Independent School District, Montgomery County, Texas, General Obligation Bonds, Refunding School Building Series 2012, 5.000%, 2/15/26 (Pre-refunded 2/15/21)		2/21 at 100.00		Aaa		5,862,272
	975	Dallas, Texas, General Obligation Bonds, Refunding & Improvements Series 2007, 4.500%, 2/15/27 – NPFG Insured		12/17 at 100.00		AA–		977,730
	2,440	El Paso County, Texas, General Obligation Bonds, Refunding Series 2007, 5.000%, 2/15/18 – NPFG Insured (ETM)		No Opt. Call		AA (4)		2,477,942
	2,000	Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, School Building Series 2009, 4.550%, 2/15/25		8/19 at 100.00		AA+		2,123,420
	7,400	Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 4/01/53		10/23 at 100.00		AA+		8,399,222
		Hale Center Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist University Project, Improvement and Refunding Series 2010:
	875	4.000%, 3/01/21		No Opt. Call		A–		941,938
	550	4.000%, 3/01/22		3/21 at 100.00		A–		588,665
	800	4.000%, 3/01/23		3/21 at 100.00		A–		852,400
	440	4.250%, 3/01/25		3/21 at 100.00		A–		467,491
	1,825	Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Refunding Series 2013A, 5.000%, 12/01/23		12/22 at 100.00		A+		2,110,174
		Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2014A:
	5,215	5.000%, 12/01/26		12/24 at 100.00		A+		6,155,056
	4,025	5.000%, 12/01/27		12/24 at 100.00		A+		4,718,789
	3,000	5.000%, 12/01/28		12/24 at 100.00		A+		3,499,350
	6,115	5.000%, 12/01/29		12/24 at 100.00		A+		7,097,619
	5,035	Harris County Flood Control District, Texas, General Obligation Bonds, Refunding Contract Tax Series 2014A, 5.000%, 10/01/25		10/24 at 100.00		Aaa		6,084,546
	1,950	Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2008B, 7.125%, 12/01/31 (Pre-refunded 12/01/18)		12/18 at 100.00		N/R (4)		2,088,957
	5,650	Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, St. Luke’s Episcopal Hospital, Series 1991A, 6.750%, 2/15/21 (ETM)		2/18 at 100.00		AA+ (4)		6,025,329

130 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Series 2009A:
$	5,120	5.000%, 11/01/22 (Pre-refunded 11/01/19)		11/19 at 100.00		AA+ (4)	$	5,534,106
	5,385	5.000%, 11/01/23 (Pre-refunded 11/01/19)		11/19 at 100.00		AA+ (4)		5,820,539
	5,660	5.000%, 11/01/24 (Pre-refunded 11/01/19)		11/19 at 100.00		AA+ (4)		6,117,781
	2,320	Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0054, 11.785%, 11/01/41 (IF) (5)		11/21 at 100.00		AA+		3,170,767
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C:
	285	5.000%, 11/15/22		No Opt. Call		A3		326,094
	425	5.000%, 11/15/23		No Opt. Call		A3		494,254
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A:
	4,795	5.000%, 11/15/24 – AGM Insured		No Opt. Call		AA		5,781,907
	4,500	5.000%, 11/15/25 – AGM Insured		11/24 at 100.00		AA		5,372,820
	4,095	5.000%, 11/15/26 – AGM Insured		11/24 at 100.00		AA		4,862,772
	11,540	5.000%, 11/15/27 – AGM Insured		11/24 at 100.00		AA		13,646,050
		Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010:
	2,270	5.000%, 7/01/19		No Opt. Call		A		2,361,231
	2,380	5.000%, 7/01/20		No Opt. Call		A		2,524,990
		Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011B:
	1,900	5.000%, 7/01/25		7/21 at 100.00		A+		2,144,891
	2,025	5.000%, 7/01/26		7/21 at 100.00		A+		2,286,002
		Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2012B:
	18,675	5.000%, 7/01/31		7/22 at 100.00		A+		21,231,234
	5,000	5.000%, 7/01/32		7/22 at 100.00		A+		5,667,350
	1,955	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (Alternative Minimum Tax)		7/24 at 100.00		BB–		2,150,950
		Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011B:
	905	5.250%, 9/01/24		12/17 at 100.00		A2		908,158
	985	5.250%, 9/01/25		12/17 at 100.00		A2		988,339
	610	5.250%, 9/01/26		12/17 at 100.00		A2		612,013
		Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:
	8,000	0.000%, 9/01/22 – AMBAC Insured		No Opt. Call		A2		7,115,920
	3,815	0.000%, 9/01/23 – AMBAC Insured		No Opt. Call		A2		3,300,700
	2,000	Laredo Community College District, Webb County, Texas, General Obligation Bonds, Series 2014, 5.000%, 8/01/32		8/24 at 100.00		AA–		2,326,100
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015:
	1,000	5.000%, 11/01/26 (Alternative Minimum Tax)		11/25 at 100.00		A1		1,184,970
	2,025	5.000%, 11/01/27 (Alternative Minimum Tax)		11/25 at 100.00		A1		2,394,684
	1,570	5.000%, 11/01/28 (Alternative Minimum Tax)		11/25 at 100.00		A1		1,843,431
	2,000	5.000%, 11/01/29 (Alternative Minimum Tax)		11/25 at 100.00		A1		2,336,680
	2,000	5.000%, 11/01/30 (Alternative Minimum Tax)		11/25 at 100.00		A1		2,324,300

NUVEEN 131

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	2,720	Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40		11/20 at 100.00		A3	$	2,961,019
		McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:
	3,045	5.000%, 12/01/25		No Opt. Call		B1		3,300,902
	2,720	5.250%, 12/01/28		12/25 at 100.00		B1		2,971,872
	1,310	Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 2016B, 5.750%, 10/01/31 (Alternative Minimum Tax)		10/18 at 103.00		BB–		1,373,312
		North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children’s Medical Center Dallas Project, Series 2012:
	4,360	5.000%, 8/15/24		8/22 at 100.00		Aa2		5,032,704
	4,710	5.000%, 8/15/25		8/22 at 100.00		Aa2		5,400,486
	3,930	5.000%, 8/15/26		8/22 at 100.00		Aa2		4,474,855
	7,025	5.000%, 8/15/27		8/22 at 100.00		Aa2		7,979,135
		North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:
	2,370	0.000%, 9/01/43 (7)		9/31 at 100.00		AA+		2,552,869
	9,130	0.000%, 9/01/45 (7)		9/31 at 100.00		AA+		10,702,916
		North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D:
	8,655	5.250%, 9/01/25		9/21 at 100.00		AA+		9,938,796
	5,040	5.250%, 9/01/26		9/21 at 100.00		AA+		5,787,583
	305	North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008A, 6.000%, 1/01/24		1/18 at 100.00		A1		308,907
	2,205	North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008A, 6.000%, 1/01/24 (Pre-refunded 1/01/18)		1/18 at 100.00		N/R (4)		2,233,246
	1,000	Plano Independent School District, Collin County, Texas, General Obligation Bonds, Series 2008A, 5.000%, 2/15/25 (Pre-refunded 2/15/18)		2/18 at 100.00		Aaa		1,015,590
	870	Sunnyvale School District, Texas, General Obligation Bonds, School Building Series 2007, 4.400%, 2/15/20		12/17 at 100.00		AAA		872,471
	4,830	Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Baylor Health Care System, Series 2011A, 5.000%, 11/15/30		11/21 at 100.00		AA–		5,319,859
	1,285	Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Refunding Series 2013, 5.125%, 9/01/33		9/23 at 100.00		A		1,430,655
	50	Teague Independent School District, Freestone County, Texas, Unlimited Tax General Obligation Bonds, School Building Series 2008, 5.000%, 2/15/19		2/18 at 100.00		AAA		50,780
	2,160	Teague Independent School District, Freestone County, Texas, Unlimited Tax General Obligation Bonds, School Building Series 2008, 5.000%, 2/15/19 (Pre-refunded 2/15/18)		2/18 at 100.00		N/R (4)		2,193,588
	5,000	Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/21		No Opt. Call		A3		5,680,750
	4,750	Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, Blueridge Transportation Group, LLC SH 288 Toll Lanes Project, Series 2016, 5.000%, 12/31/40 (Alternative Minimum Tax)		12/25 at 100.00		Baa3		5,218,065
	3,250	Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2014A, 5.000%, 10/01/22		No Opt. Call		AAA		3,811,990
	16,250	Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C, 5.000%, 8/15/31		8/24 at 100.00		BBB+		18,417,587

132 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Val Verde County, Texas, Pass-Through Toll Revenue and Limited Tax Bonds, Series 2011:
$	2,675	3.500%, 8/15/18		No Opt. Call		A	$	2,718,389
	2,900	4.000%, 8/15/19		No Opt. Call		A		3,022,177
	3,015	4.000%, 8/15/20		No Opt. Call		A		3,192,131
	3,135	4.000%, 8/15/21		No Opt. Call		A		3,365,673
	1,000	Victoria, Texas, Utility System Revenue Refunding Bonds, Series 2007, 4.400%, 12/01/19 – AMBAC Insured		12/17 at 100.00		AA–		1,005,730
	8,830	Williamson County, Texas, General Obligation Bonds, Limited Tax Refunding Series 2012, 5.000%, 2/15/26		2/22 at 100.00		AAA		10,185,317
	298,755	Total Texas						334,445,756
		Utah – 0.5%
	6,345	Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41		8/19 at 100.00		AA+		6,703,619
		Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A:
	3,340	5.000%, 9/01/23		9/22 at 100.00		A		3,795,676
	2,000	5.000%, 9/01/25		9/22 at 100.00		A		2,287,620
	2,265	5.000%, 9/01/26		9/22 at 100.00		A		2,577,796
	10,000	Utah State, General Obligation Bonds, Series 2009A, 5.000%, 7/01/22 (Pre-refunded 7/01/18)		7/18 at 100.00		AAA		10,309,400
	23,950	Total Utah						25,674,111
		Virginia – 0.6%
	10,755	Fairfax County, Virginia, General Obligation Bonds, Refunding Public Improvement Series 2016A, 4.000%, 10/01/19		No Opt. Call		AAA		11,389,653
	3,520	Madison County Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, Woodberry Forest School, Refunding Series 2016A, 3.000%, 10/01/46		10/25 at 100.00		Aa1		3,309,997
	750	Roanoke Economic Development Authority, Virginia, Residential Care Facility Mortgage Revenue Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012, 5.000%, 12/01/32		12/22 at 100.00		N/R		736,035
		Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2016:
	1,000	5.000%, 6/15/30		6/26 at 100.00		A–		1,147,920
	1,185	3.125%, 6/15/31		6/26 at 100.00		A–		1,173,209
	1,000	5.000%, 6/15/33		6/26 at 100.00		A–		1,126,940
	195	5.000%, 6/15/34		6/26 at 100.00		A–		218,969
	710	Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Refunding Series 2015A, 5.000%, 7/01/45		7/25 at 100.00		BB+		752,039
	6,835	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (Alternative Minimum Tax)		7/22 at 100.00		BBB		7,609,132
	3,650	Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2009A, 2.150%, 10/01/40 (Mandatory put 9/01/20)		No Opt. Call		A2		3,715,080
	29,600	Total Virginia						31,178,974
		Washington – 1.1%
	340	Douglas County Public Utility District 1, Washington, Revenue Bonds, Wells Hydroelectric, Series 1963, 4.000%, 9/01/18 (ETM)		No Opt. Call		AA (4)		348,078

NUVEEN 133

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
$	10,000	Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 3, Refunding Series 2017A, 5.000%, 7/01/28		7/27 at 100.00		Aa1	$	12,421,200
	265	King County School District 412 Shoreline, Washington, General Obligation Bonds, Series 2008, 5.750%, 12/01/21 (Pre-refunded 12/01/18)		12/18 at 100.00		AA+ (4)		279,927
	2,265	Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016, 5.000%, 12/01/37		12/26 at 100.00		Baa2		2,439,156
	6,000	Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.375%, 1/01/31		1/21 at 100.00		A		6,502,620
		Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2015:
	1,435	5.000%, 1/01/26		7/25 at 100.00		A		1,710,979
	1,250	5.000%, 1/01/27		7/25 at 100.00		A		1,480,637
		Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A:
	1,295	5.000%, 11/15/22		No Opt. Call		A+		1,505,204
	2,020	5.000%, 11/15/24		5/24 at 100.00		A+		2,420,566
		Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017:
	5,120	5.000%, 8/15/29		8/27 at 100.00		BBB		5,971,866
	1,500	5.000%, 8/15/32		8/27 at 100.00		BBB		1,720,215
	7,000	5.000%, 8/15/34		8/27 at 100.00		BBB		7,951,650
	1,330	Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009, 6.250%, 7/01/24		7/19 at 100.00		Baa1		1,428,181
		Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009:
	1,840	6.250%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		2,006,649
	2,000	6.750%, 7/01/29 (Pre-refunded 7/01/19)		7/19 at 100.00		Baa1 (4)		2,197,000
	3,250	Washington State Higher Education Facilities Authority, Revenue Bonds, Whitworth University, Series 2009, 5.125%, 10/01/24 (Pre-refunded 10/01/19)		10/19 at 100.00		Baa1 (4)		3,511,787
	4,415	Whidbey Island Public Hospital District, Island County, Washington, General Obligation Bonds, Whidbey General Hospital, Series 2013, 5.500%, 12/01/33		12/22 at 100.00		Baa2		4,712,880
	51,325	Total Washington						58,608,595
		West Virginia – 0.4%
	5,995	West Virginia Economic Development Authority, Energy Revenue Bonds, Morgantown Energy Associates Project, Refunding Series 2016, 2.875%, 12/15/26 (Alternative Minimum Tax)		No Opt. Call		Baa3		5,873,781
	10,335	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 1.700%, 1/01/41 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		A–		10,272,473
	1,015	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A, 5.000%, 9/01/25		9/24 at 100.00		Baa1		1,166,073
	1,525	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding Series 2008E, 5.375%, 6/01/28 (Pre-refunded 12/01/18)		12/18 at 100.00		A (4)		1,602,989
	18,870	Total West Virginia						18,915,316

134 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin – 3.2%
$	24,400	Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 6.500%, 12/01/37		12/27 at 100.00		N/R	$	27,959,716
	5,500	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-1, 2.625%, 11/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		5,624,630
	5,400	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-2, 2.875%, 5/01/27 (Alternative Minimum Tax)		5/26 at 100.00		A–		5,447,142
		University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Refunding Series 2013A:
	335	5.000%, 4/01/20		No Opt. Call		AA–		366,591
	470	5.000%, 4/01/22		No Opt. Call		AA–		541,529
		Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A:
	590	5.000%, 12/01/26		11/24 at 100.00		AA–		697,799
	3,855	5.000%, 12/01/27		11/24 at 100.00		AA–		4,514,976
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A:
	1,020	5.000%, 7/15/25		7/21 at 100.00		A+		1,133,424
	14,395	5.000%, 7/15/27 – AGM Insured		7/21 at 100.00		A+		15,868,760
	2,060	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20)		6/20 at 100.00		Baa2 (4)		2,324,071
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Children’s Hospital of Wisconsin Inc., Series 2008B:
	1,455	4.350%, 8/15/19		No Opt. Call		AA		1,541,864
	8,670	5.500%, 8/15/29		2/20 at 100.00		AA		9,380,506
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2017C:
	1,920	3.250%, 2/15/33		2/27 at 100.00		A–		1,858,790
	1,455	3.500%, 2/15/36		2/27 at 100.00		A–		1,408,847
	5,000	5.000%, 2/15/47		2/27 at 100.00		A–		5,531,600
	835	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2010A, 5.000%, 6/01/19		No Opt. Call		A3		861,996
	3,850	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc., Series 1992A, 6.000%, 12/01/22 – FGIC Insured		No Opt. Call		A1		4,160,233
	1,775	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C, 5.000%, 8/15/24 (Pre-refunded 8/15/22)		8/22 at 100.00		N/R (4)		2,077,229
	4,365	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Refunding Series 2015, 5.000%, 8/15/39		8/24 at 100.00		A+		4,837,948
		Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare Inc., Series 2015:
	825	5.000%, 12/15/23		No Opt. Call		AA–		975,488
	1,225	5.000%, 12/15/25		12/24 at 100.00		AA–		1,451,282
	8,145	Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 6.000%, 5/01/27		5/19 at 100.00		Aa2		8,776,808

NUVEEN 135

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)			Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
		Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A:
$	855	6.000%, 5/01/27 (Pre-refunded 5/01/19)				5/19 at 100.00		N/R (4)	$	922,973
	250	6.000%, 5/01/33 (Pre-refunded 5/01/19)				5/19 at 100.00		N/R (4)		269,875
	1,805	6.000%, 5/01/33 (Pre-refunded 5/01/19)				5/19 at 100.00		Aa2 (4)		1,948,498
	495	5.750%, 5/01/33 (Pre-refunded 5/01/19)				5/19 at 100.00		N/R (4)		532,402
	4,740	5.750%, 5/01/33 (Pre-refunded 5/01/19)				5/19 at 100.00		Aa2 (4)		5,098,154
	35,170	6.000%, 5/01/36 (Pre-refunded 5/01/19)				5/19 at 100.00		Aa2 (4)		37,966,015
	5,715	Wisconsin State, General Obligation Bonds, Refunding Series 2014-2, 5.000%, 5/01/24				5/22 at 100.00		Aa1		6,627,228
	85	Wisconsin State, General Obligation Bonds, Refunding Series 2014-2, 5.000%, 5/01/24 (Pre-refunded 5/01/22)				5/22 at 100.00		N/R (4)		98,733
		Wisconsin State, Transportation Revenue Bonds, Series 2014-1:
	1,110	5.000%, 7/01/24 (Pre-refunded 7/01/19)				7/19 at 100.00		AA+ (4)		1,186,257
	3,355	5.000%, 7/01/25 (Pre-refunded 7/01/19)				7/19 at 100.00		AA+ (4)		3,585,489
	4,000	5.000%, 7/01/26 (Pre-refunded 7/01/19)				7/19 at 100.00		AA+ (4)		4,274,800
	155,125	Total Wisconsin								169,851,653
		Wyoming – 0.1%
	5,500	Sweetwater County, Wyoming, Hospital Revenue Bonds, Memorial Hospital Project, Refunding Series 2013A, 5.000%, 9/01/30				9/23 at 100.00		BBB–		5,930,540
$	5,110,955	Total Municipal Bonds (cost $5,045,689,362)								5,242,241,673
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (3)		Value
		CORPORATE BONDS – 0.0%
		Transportation – 0.0%
$	210	Las Vegas Monorail Company, Senior Interest Bonds (9), (10)		5.500%		7/15/19		N/R	$	132,624
	57	Las Vegas Monorail Company, Senior Interest Bonds (9), (10)		5.500%		7/15/55		N/R		28,880
$	267	Total Corporate Bonds (cost $20,922)								161,504
Shares		Description (1), (12)							Value
		INVESTMENTS COMPANIES – 0.3%
	15,000,000	Eaton Vance Municipal Income Trust							$	15,001,800
		Total Investment Companies (cost $15,000,000)								15,001,800
		Total Long-Term Investments (cost $5,060,710,284)								5,257,404,977
Principal Amount (000)		Description (1)			Optional Call Provision (2)		Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 0.8%
		MUNICIPAL BONDS – 0.8%
		Utah – 0.4%
$	20,000	Murray City, Utah, Variable Rate Demand Obligations, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2003B, 9.000%, 5/15/36 (11)				11/17 at 100.00		A-1+	$	20,000,000

136 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provision (2)		Ratings (3)		Value
		New York – 0.4%
$	21,450	New York City Transitional Finance Authority, New York, Variable Rate Demand Obligations, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2010G-5, 0.950%, 5/01/34 (11)		12/17 at 100.00		A-1	$	21,450,000
	3,550	New York City, New York, Variable Rate Demand Obligations, General Obligation Bonds, Fiscal 2008 Series J3, 0.950%, 8/01/23 (11)		12/17 at 100.00		A-1		3,550,000
	25,000	Total New York						25,000,000
$	45,000	Total Short-Term Investments (cost $45,000,000)						45,000,000
		Total Investments (cost $5,105,710,284) – 98.7%						5,302,404,977
		Other Assets Less Liabilities – 1.3%						70,361,491
		Net Assets – 100%					$	5,372,766,468

(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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

(4) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(5) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.

(6) The coupon for this security increased 0.25% effective January 1, 2016 and increased an additional 0.25% effective May 11, 2016.

(7) Step-up coupon bond, a bond with a coupon that increases (“steps up”), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

(8) As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.

(9) During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund’s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund’s records.

(10) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.

(11) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

(12) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

(13) Variable rate security. The rate shown is the coupon as of the end of the reporting period.

ETM Escrowed to maturity.

IF Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.

LIBOR London Inter-Bank Offered Rate.

WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

See accompanying notes to financial statements.

NUVEEN 137

Nuveen Limited Term Municipal Bond Fund

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 98.8%
		MUNICIPAL BONDS – 98.1%
		Alabama – 2.0%
$	58,420	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016A, 4.000%, 7/01/46 (Mandatory put 6/01/21)		3/21 at 100.59		A1	$	63,194,667
	10,935	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47		4/22 at 100.52		A1		12,057,259
	6,000	Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A, 1.850%, 6/01/34 (Mandatory put 3/24/20)		No Opt. Call		A+		6,048,300
	11,710	Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2008, 1.625%, 7/15/34 (Mandatory put 10/02/18)		No Opt. Call		A+		11,745,013
	87,065	Total Alabama						93,045,239
		Alaska – 0.4%
		Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015:
	1,655	5.000%, 1/01/24 (Alternative Minimum Tax)		No Opt. Call		Baa2		1,886,998
	3,565	5.000%, 1/01/26 (Alternative Minimum Tax)		7/25 at 100.00		Baa2		4,068,164
		Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011:
	2,680	5.000%, 4/01/18		No Opt. Call		A1		2,733,922
	1,360	5.000%, 4/01/19		No Opt. Call		A1		1,436,459
	3,640	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 4.625%, 6/01/23		12/17 at 100.00		Ba2		3,703,700
	3,635	Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc. Project, Refunding Series 2003C, 5.000%, 1/01/21		No Opt. Call		A1		4,034,014
	16,535	Total Alaska						17,863,257
		Arizona – 2.4%
	3,380	Arizona Board of Regents, Arizona State University System Revenue Bonds, Refunding Series 2015B, 5.000%, 7/01/20		No Opt. Call		AA		3,735,779
	2,000	Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A, 5.000%, 2/01/18		No Opt. Call		BBB+		2,024,540
	810	Arizona State, Certificates of Participation, Department of Administration Series 2010B, 5.000%, 10/01/17 – AGM Insured		No Opt. Call		AA		810,186
	7,785	Arizona State, Certificates of Participation, Series 2008A, 5.000%, 9/01/21 (Pre-refunded 3/01/18) – AGM Insured		3/18 at 100.00		AA (4)		7,920,926
		Arizona State, Certificates of Participation, Series 2010A:
	11,935	5.000%, 10/01/17 – AGM Insured		No Opt. Call		AA		11,937,745
	2,975	5.000%, 10/01/19 – AGM Insured		No Opt. Call		AA		3,205,443
		Arizona State, State Lottery Revenue Bonds, Series 2010A:
	5,140	5.000%, 7/01/18 – AGM Insured		No Opt. Call		AA		5,295,896
	95	5.000%, 7/01/20 – AGM Insured		No Opt. Call		AA		104,864

138 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
		Chandler, Arizona, General Obligation Bonds, Refunding Series 2014:
$	4,030	5.000%, 7/01/23		No Opt. Call		AAA	$	4,807,427
	1,500	5.000%, 7/01/24		No Opt. Call		AAA		1,823,175
	1,200	Coconino County, Arizona, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding Series 2017B, 1.600%, 3/01/39 (Mandatory put 5/21/20)		No Opt. Call		A+		1,202,820
		Dysart Unified School District Number 89, Maricopa County, Arizona, General Obligation Bonds, Refunding Series 2014:
	675	5.000%, 7/01/18		No Opt. Call		AAA		694,899
	335	5.000%, 7/01/19		No Opt. Call		AAA		356,983
	575	5.000%, 7/01/20		No Opt. Call		AAA		632,063
	765	5.000%, 7/01/21		No Opt. Call		AAA		864,198
	6,110	Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Series 2017C, 5.000%, 1/01/48 (Mandatory put 10/18/24) (WI/DD, Settling 10/18/17)		No Opt. Call		AA–		7,240,411
	11,000	Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Refunding Bonds, Public Service Company of New Mexico Palo Verde Project, Series 2010A, 2.400%, 6/01/43 (Mandatory put 6/01/20)		No Opt. Call		BBB+		11,150,370
	1,090	Maricopa County School District 33 Buckeye Elementary, Arizona, General Obligation Bonds, Refunding Series 2016, 3.000%, 7/01/20 – BAM Insured		No Opt. Call		AA		1,136,968
		Maricopa County Unified School District 60 Higley, Arizona, General Obligation Bonds, Refunding School Improvement Series 2015:
	500	4.000%, 7/01/19 – AGM Insured		No Opt. Call		AA		524,150
	575	4.000%, 7/01/20 – AGM Insured		No Opt. Call		AA		616,555
	1,565	4.000%, 7/01/21 – AGM Insured		No Opt. Call		AA		1,710,921
	750	4.000%, 7/01/22 – AGC Insured		No Opt. Call		AA		830,287
	1,270	Maricopa County Unified School District 60 Higley, Arizona, General Obligation Bonds, School Improvement Project of 2013, Series 2014A, 4.000%, 7/01/24		No Opt. Call		A+		1,431,887
	800	Maricopa County Unified School District 60 Higley, Arizona, General Obligation Bonds, School Improvement Project of 2013, Series 2016C, 2.000%, 7/01/20 – AGM Insured		No Opt. Call		AA		814,664
	1,250	Maricopa County Unified School District 90 Saddle Mountain, Arizona, General Obligation Bonds, School Improvement Project 2013, Series 2014, 5.000%, 7/01/18 – MAC Insured		No Opt. Call		AA		1,286,850
		Mesa, Arizona, General Obligation Bonds, Refunding Series 2012:
	1,425	4.000%, 7/01/20		No Opt. Call		Aa2		1,532,003
	2,225	4.000%, 7/01/21		No Opt. Call		Aa2		2,445,319
	2,055	4.000%, 7/01/22		No Opt. Call		Aa2		2,296,976
		Mesa, Arizona, Street and Highway User Revenue Bonds, Refunding Series 2012:
	2,415	5.000%, 7/01/21		No Opt. Call		AA		2,738,586
	4,030	5.000%, 7/01/22		No Opt. Call		AA		4,673,027
	3,615	Mesa, Arizona, Street and Highway User Revenue Bonds, Refunding Series 2015, 5.000%, 7/01/26		7/25 at 100.00		AA		4,307,489
		Mesa, Arizona, Utility System Revenue Bonds, Refunding Series 2012:
	5,370	5.000%, 7/01/20		No Opt. Call		Aa2		5,927,567
	6,115	5.000%, 7/01/21		No Opt. Call		Aa2		6,946,395
	295	Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company Project, Series 2013A, 4.000%, 9/01/29		3/23 at 100.00		A–		311,016

NUVEEN 139

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
		Pinal County, Arizona, Pledged Revenue Obligations, Refunding Series 2014:
$	1,295	5.000%, 8/01/22		No Opt. Call		AA	$	1,491,283
	2,000	5.000%, 8/01/23		No Opt. Call		AA		2,345,920
	2,000	5.000%, 8/01/24		No Opt. Call		AA		2,380,620
	1,000	Pinal County, Arizona, Pledged Revenue Obligations, Series 2014, 5.000%, 8/01/24		No Opt. Call		AA		1,190,310
	435	Yuma County Industrial Development Authority, Arizona, Exempt Revenue Bonds, Far West Water & Sewer Inc. Refunding, Series 2007A, 6.500%, 12/01/17 (Alternative Minimum Tax)		No Opt. Call		N/R		434,900
	102,385	Total Arizona						111,181,418
		Arkansas – 0.5%
	720	Bryant School District 25, Saline County, Arkansas, General Obligation Bonds, Refunding & Construction Series 2017A, 3.000%, 2/01/20		No Opt. Call		Aa2		746,827
		Crittenden County, Arkansas, Sales and Use Tax Revenue Bonds, Series 2017:
	1,000	5.000%, 3/01/19 (WI/DD, Settling 10/26/17)		No Opt. Call		A		1,049,930
	1,200	5.000%, 3/01/20 (WI/DD, Settling 10/26/17)		No Opt. Call		A		1,299,396
	1,400	5.000%, 3/01/21 (WI/DD, Settling 10/26/17)		No Opt. Call		A		1,558,732
	3,010	Jefferson County, Arkansas, Pollution Control Revenue Refunding Bonds, Entergy Arkansas, Inc. Project, Series 2013, 1.550%, 10/01/17		No Opt. Call		A		3,010,120
		Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014:
	500	5.000%, 7/01/19		No Opt. Call		A+		532,900
	670	5.000%, 7/01/21		No Opt. Call		A+		758,192
		Pulaksi County Public Facilities Board, Arkansas, Health Facilities Revenue Bonds, CARTI Project, Series 2013:
	630	4.000%, 7/01/18		No Opt. Call		N/R		634,694
	890	4.000%, 7/01/19		No Opt. Call		N/R		902,024
	995	4.000%, 7/01/20		No Opt. Call		N/R		1,011,845
	1,020	4.000%, 7/01/21		No Opt. Call		N/R		1,037,758
	1,075	4.000%, 7/01/22		No Opt. Call		N/R		1,091,243
	1,180	5.250%, 7/01/27		7/23 at 100.00		N/R		1,208,544
	470	5.250%, 7/01/28		7/23 at 100.00		N/R		479,189
		Pulaski County Public Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 2014:
	500	5.000%, 12/01/22		No Opt. Call		A+		581,665
	1,740	5.000%, 12/01/23		No Opt. Call		A+		2,056,036
	2,000	5.000%, 12/01/24		No Opt. Call		A+		2,397,720
	19,000	Total Arkansas						20,356,815
		California – 3.6%
	22,105	California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2016B-3, 2.000%, 10/01/36 (Mandatory put 10/01/25)		10/25 at 100.00		AA–		21,782,046
	4,000	California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013C, 5.000%, 7/01/43 (Mandatory put 10/15/19)		No Opt. Call		AA–		4,309,640
	3,315	California Infrastructure and Economic Development Bank, Revenue Bonds, Pacific Gas and Electric Company, Refunding Series 2010E, 1.750%, 11/01/26 (Mandatory put 6/01/22)		No Opt. Call		A2		3,331,608
		California Infrastructure and Economic Development Bank, Revenue Bonds, Pacific Gas and Electric Company, Refunding Series 2008:
	6,800	1.050%, 12/01/18		No Opt. Call		A2		6,809,792
	3,500	1.750%, 11/01/26 (Mandatory put 6/01/22)		No Opt. Call		A2		3,520,685

140 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		California Municipal Finance Authority, Revenue Bonds, Community Medical Centers, Series 2017A:
$	1,565	5.000%, 2/01/22		No Opt. Call		A–	$	1,775,054
	2,600	5.000%, 2/01/23		No Opt. Call		A–		3,001,570
	1,920	5.000%, 2/01/24		No Opt. Call		A–		2,248,570
	1,700	5.000%, 2/01/25		No Opt. Call		A–		2,009,298
	2,000	5.000%, 2/01/26		No Opt. Call		A–		2,384,540
	1,500	5.000%, 2/01/27		No Opt. Call		A–		1,805,220
	3,365	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2015B-2, 3.125%, 11/01/40 (Mandatory put 11/03/25) (Alternative Minimum Tax)		No Opt. Call		A–		3,471,368
	5,875	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2015A-1, 3.375%, 7/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		6,316,800
	6,490	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management, Inc. Project, Refunding Series 2015B-1, 3.000%, 11/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		6,818,589
	3,675	California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 5.000%, 11/01/17		No Opt. Call		A+		3,688,855
		California State, Economic Recovery Revenue Bonds, Refunding Series 2009A:
	260	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		279,604
	125	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		134,425
	20,655	California Statewide Communities Development Authority, Health Facility Revenue Bonds, Community Hospital of the Monterey Peninsula, Series 2012A, 1.870%, 6/01/23		12/17 at 100.00		N/R		20,722,955
	765	California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/24		No Opt. Call		A–		912,002
		California Statewide Communities Development Authority, Student Housing Revenue Bonds, University of California, Irvine East Campus Apartments, CHF-Irvine, LLC, Refunding Series 2016:
	2,050	5.000%, 5/15/18		No Opt. Call		Baa1		2,101,927
	1,000	5.000%, 5/15/19		No Opt. Call		Baa1		1,063,790
	1,000	5.000%, 5/15/20		No Opt. Call		Baa1		1,099,170
	1,485	California Statewide Community Development Authority, Revenue Bonds, Los Angeles Jewish Home for the Aging-Fountainview Gonda, Series 2014B, 3.000%, 8/01/21		12/17 at 100.00		AA–		1,487,138
		Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012:
	2,260	4.000%, 1/01/18		No Opt. Call		BBB		2,272,837
	2,350	5.000%, 1/01/19		No Opt. Call		BBB		2,429,195
	2,470	5.000%, 1/01/20		No Opt. Call		BBB		2,611,210
	2,590	5.000%, 1/01/21		No Opt. Call		BBB		2,791,139
	3,510	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.000%, 6/01/33		12/17 at 100.00		B+		3,506,139
	500	Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C, 5.000%, 9/01/21		No Opt. Call		N/R		561,525
	2,760	Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2013B, 5.000%, 7/01/22		No Opt. Call		AA+		3,232,236
	190	Los Angeles Harbors Department, California, Revenue Bonds, Series 1988, 7.600%, 10/01/18 (ETM)		No Opt. Call		AA+ (4)		196,114

NUVEEN 141

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	15,000	Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2017, 5.000%, 6/28/18		No Opt. Call		SP-1+	$	15,456,600
	13,020	Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding Series 2014C-2, 3.000%, 7/01/25 (Mandatory put 10/01/20)		7/20 at 100.00		AAA		13,649,517
	2,700	New Haven Unified School District, California, General Obligation Bonds, Refunding Series 2014A, 5.000%, 8/01/25 – BAM Insured		8/24 at 100.00		AA		3,257,442
	4,700	Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21		11/20 at 100.00		BBB–		4,956,009
	110	San Bernardino, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Refunding Bonds, Series 1990A, 7.500%, 5/01/23 (ETM)		No Opt. Call		Aaa		129,521
	3,535	Southern California Public Power Authority, Transmission Project Revenue Bonds, Southern Transmission Project, Subordinate Refunding Series 2015C, 5.000%, 7/01/24		No Opt. Call		AA–		4,319,381
		Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A:
	565	4.000%, 7/01/18		No Opt. Call		Baa1		575,650
	1,315	5.000%, 7/01/19		No Opt. Call		Baa1		1,392,532
	1,225	4.000%, 7/01/20		No Opt. Call		Baa1		1,299,149
	1,130	5.000%, 7/01/22		No Opt. Call		Baa1		1,273,736
	980	5.000%, 7/01/23		No Opt. Call		Baa1		1,120,160
	158,660	Total California						166,104,738
		Colorado – 1.7%
	2,750	Broomfield, Colorado, Sewer Activity Enterprise, Sewer and Wastewater Reclamation Revenue Bonds, Refunding Series 2012, 4.000%, 12/01/20		No Opt. Call		A2		2,955,507
		Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017:
	765	5.000%, 12/01/20		No Opt. Call		N/R		825,863
	1,000	5.000%, 12/01/21		No Opt. Call		N/R		1,084,380
	1,425	5.000%, 12/01/22		No Opt. Call		N/R		1,556,257
	1,000	Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017, 5.000%, 6/01/20		No Opt. Call		BBB		1,084,960
	7,245	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health, Sunbelt Obligated Group, Series 2014E, 5.000%, 11/15/24		5/24 at 100.00		AA		8,656,688
	16,975	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008D-3, 5.000%, 10/01/38 (Mandatory put 11/12/21)		No Opt. Call		BBB+		18,793,362
	3,025	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		10/18 at 100.00		BBB+		3,171,894
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A:
	7,575	5.000%, 2/01/19		No Opt. Call		BBB+		7,915,193
	5,205	5.000%, 2/01/20		No Opt. Call		BBB+		5,582,362
	4,830	5.000%, 2/01/21		No Opt. Call		BBB+		5,307,349

142 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A:
$	300	3.000%, 6/01/18		No Opt. Call		A–	$	303,201
	500	4.000%, 6/01/19		No Opt. Call		A–		519,585
	1,000	4.000%, 6/01/20		No Opt. Call		A–		1,056,810
	2,000	5.000%, 6/01/21		No Opt. Call		A–		2,217,240
	2,300	5.000%, 6/01/22		No Opt. Call		A–		2,592,238
	500	5.000%, 6/01/23		No Opt. Call		A–		570,825
	250	Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2014, 2.000%, 8/01/19 – AGM Insured		No Opt. Call		AA		253,670
		Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A:
	825	3.500%, 12/01/21		No Opt. Call		N/R		849,799
	530	4.500%, 12/01/27		12/22 at 103.00		N/R		555,827
	1,500	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/19		No Opt. Call		A		1,618,545
		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Refunding Series 2015A:
	1,060	5.000%, 9/01/19		No Opt. Call		A–		1,134,274
	1,175	5.000%, 9/01/20		No Opt. Call		A–		1,293,428
		Gardens on Havana Metropolitan District 3, Arapahoe County, Colorado, Special Revenue Bonds, Refunding Series 2017A:
	2,950	3.625%, 12/01/21		No Opt. Call		N/R		3,029,060
	3,705	4.625%, 12/01/27		12/22 at 103.00		N/R		3,909,812
		Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013:
	1,000	5.000%, 12/01/17		No Opt. Call		N/R		1,004,880
	1,000	5.000%, 12/01/18		No Opt. Call		N/R		1,031,730
	72,390	Total Colorado						78,874,739
		Connecticut – 2.8%
	19,085	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2015A, 1.375%, 7/01/35 (Mandatory put 7/11/18)		No Opt. Call		AAA		19,135,575
	19,740	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2016A-1, 1.000%, 7/01/42 (Mandatory put 7/01/19)		No Opt. Call		AAA		19,695,388
	4,500	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2017A-2, 5.000%, 7/01/42 (Mandatory put 7/01/22)		No Opt. Call		AAA		5,225,895
	20,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2017B-2, 5.000%, 7/01/37 (Mandatory put 7/01/20)		No Opt. Call		AAA		22,082,200
	25,660	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U1, 1.000%, 7/01/33 (Mandatory put 2/06/19)		No Opt. Call		AAA		25,620,740
	18,100	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U2, 1.000%, 7/01/33 (Mandatory put 2/06/19)		No Opt. Call		AAA		18,072,307
	5,000	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2013A, 5.000%, 10/01/20		No Opt. Call		AA		5,514,700

NUVEEN 143

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Connecticut (continued)
$	655	Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (Alternative Minimum Tax)		1/18 at 100.00		A–	$	657,030
		New Haven, Connecticut, General Obligation Bonds, Refunding Series 2014B:
	1,915	4.000%, 8/01/19 – AGM Insured		No Opt. Call		AA		2,001,960
	2,000	5.000%, 8/01/20 – AGM Insured		No Opt. Call		AA		2,184,740
	875	South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twenty-Ninth Series 2014, 5.000%, 8/01/22		No Opt. Call		AA–		1,017,082
		Stratford, Connecticut, General Obligation Bonds, Series 2014:
	395	3.000%, 12/15/19		No Opt. Call		AA		408,489
	525	5.000%, 12/15/21		No Opt. Call		AA		592,032
		West Haven, Connecticut, General Obligation Bonds, Series 2012:
	2,095	5.000%, 8/01/22 – AGM Insured		No Opt. Call		AA		2,369,256
	2,000	5.000%, 8/01/23 – AGM Insured		8/22 at 100.00		AA		2,257,640
	1,000	5.000%, 8/01/25 – AGM Insured		8/22 at 100.00		AA		1,137,810
	123,545	Total Connecticut						127,972,844
		Delaware – 0.2%
		Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013:
	1,810	5.000%, 7/01/18		No Opt. Call		BBB		1,847,576
	1,905	5.000%, 7/01/19		No Opt. Call		BBB		1,993,278
	2,000	5.000%, 7/01/20		No Opt. Call		BBB		2,137,220
	275	5.000%, 7/01/21		No Opt. Call		BBB		299,178
	5,990	Total Delaware						6,277,252
		District of Columbia – 1.3%
	1,115	District of Columbia, Income Tax Secured Revenue Bonds, Series 2009D, 5.000%, 12/01/17		No Opt. Call		AAA		1,123,173
	10,050	District of Columbia, Revenue Bonds, Georgetown University, Series 2001C, 5.250%, 4/01/34 (Mandatory put 4/01/23) (Pre-refunded 10/01/18)		10/18 at 100.00		A (4)		10,481,949
	21,745	Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017, 5.000%, 10/01/18 (Alternative Minimum Tax)		No Opt. Call		AA–		22,603,058
		Washington Metropolitan Area Transit Authority, District of Columbia, Gross Revenue Bonds, Series 2016A:
	22,365	5.000%, 7/01/18		No Opt. Call		AA–		23,050,264
	3,000	4.000%, 7/01/19		7/18 at 100.00		AA–		3,069,600
	58,275	Total District of Columbia						60,328,044
		Florida – 4.4%
		Broward County School Board, Florida, Certificates of Participation, Series 2015A:
	2,535	5.000%, 7/01/19		No Opt. Call		Aa3		2,708,217
	4,000	5.000%, 7/01/20		No Opt. Call		Aa3		4,409,560
		Broward County, Florida, Airport System Revenue Bonds, Series 2015A:
	5,000	5.000%, 10/01/24 (Alternative Minimum Tax)		No Opt. Call		A+		5,899,850
	5,000	5.000%, 10/01/25 (Alternative Minimum Tax)		No Opt. Call		A+		5,949,750
	2,295	5.000%, 10/01/26 (Alternative Minimum Tax)		10/25 at 100.00		A+		2,706,195
	4,110	5.000%, 10/01/27 (Alternative Minimum Tax)		10/25 at 100.00		A+		4,813,920

144 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017:
$	740	1.400%, 9/01/18 – AGM Insured		No Opt. Call		AA	$	741,436
	990	1.650%, 9/01/19 – AGM Insured		No Opt. Call		AA		997,138
	990	1.900%, 9/01/20 – AGM Insured		No Opt. Call		AA		1,006,305
	1,005	2.000%, 9/01/21 – AGM Insured		No Opt. Call		AA		1,028,175
	1,260	2.125%, 9/01/22 – AGM Insured		No Opt. Call		AA		1,286,044
		Citizens Property Insurance Corporation, Florida, Coastal Account Senior Secured Bonds, Series 2015A-1:
	3,250	5.000%, 6/01/18		12/17 at 100.00		AA		3,273,270
	5,030	5.000%, 6/01/20		12/19 at 100.00		AA		5,437,983
	18,050	5.000%, 6/01/22		12/21 at 100.00		AA		20,601,548
	3,775	5.000%, 6/01/25		12/24 at 100.00		AA		4,515,164
		Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1:
	3,840	5.000%, 6/01/18		No Opt. Call		AA		3,941,338
	365	5.000%, 6/01/19		No Opt. Call		AA		388,254
		City of Orlando, Florida, Senior Tourist Development Tax Refunding Revenue Bonds, 6th Cent Contract Payments, Series 2017A:
	2,000	5.000%, 11/01/29 – AGM Insured		11/27 at 100.00		AA		2,384,320
	5,500	5.000%, 11/01/30 – AGM Insured		11/27 at 100.00		AA		6,529,435
	6,600	Escambia County, Florida, Pollution Control Revenue Bonds, Gulf Power Company Project, Refunding Series 2003, 1.150%, 6/01/23 (Mandatory put 6/21/18)		No Opt. Call		A2		6,601,386
	2,095	Escambia County, Florida, Pollution Control Revenue Bonds, Gulf Power Company, Refunding Series 1997, 2.100%, 7/01/22 (Mandatory put 4/11/19)		No Opt. Call		A2		2,113,918
	5,880	Florida Municipal Power Agency, Power Supply Revenue Bonds, All Requirements Project, Refunding Series 2016A, 5.000%, 10/01/20		No Opt. Call		A+		6,532,092
	2,655	Florida Municipal Power Agency, Revenue Bonds, Saint Lucie Project, Refunding Series 2011A, 5.000%, 10/01/20		No Opt. Call		A2		2,949,439
	2,200	Hillsborough County School District, Florida, Sales Tax Revenue Refunding Bonds, Series 2015B, 5.000%, 10/01/20 – AGM Insured		No Opt. Call		AA		2,443,298
		Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017:
	1,000	5.000%, 10/01/21 – AGM Insured		No Opt. Call		AA		1,140,800
	3,100	5.000%, 10/01/23 – AGM Insured		No Opt. Call		AA		3,662,278
	2,525	5.000%, 10/01/25 – AGM Insured		No Opt. Call		AA		3,054,745
	2,275	5.000%, 10/01/26 – AGM Insured		No Opt. Call		AA		2,773,612
	2,000	5.000%, 10/01/27 – AGM Insured		4/27 at 100.00		AA		2,442,000
	2,750	5.000%, 10/01/28 – AGM Insured		4/27 at 100.00		AA		3,327,802
	2,300	5.000%, 10/01/29 – AGM Insured		4/27 at 100.00		AA		2,765,474
	2,525	Manatee County, Florida, Revenue Bonds, Refunding & Improvement Series 2013, 5.000%, 10/01/20		No Opt. Call		AA+		2,805,426
	355	Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (Alternative Minimum Tax)		6/20 at 100.00		Baa2		364,912

NUVEEN 145

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2014B:
$	3,040	5.000%, 7/01/20		No Opt. Call		A	$	3,338,224
	2,275	5.000%, 7/01/21		No Opt. Call		A		2,564,653
	1,775	5.000%, 7/01/22		No Opt. Call		A		2,041,498
	4,000	5.000%, 7/01/23		No Opt. Call		A		4,682,520
		Miami-Dade County Industrial Development Authority, Florida, Solid Waste Revenue Bonds, Waste Management Inc. of Florida Projects 1 & 2, Series 2004:
	3,725	3.750%, 12/01/18		No Opt. Call		A–		3,838,203
	4,000	3.750%, 12/01/18		No Opt. Call		A–		4,121,560
	2,770	Miami-Dade County School Board, Florida, Certificates of Participation, Series 2015D, 5.000%, 2/01/20		No Opt. Call		A+		3,010,658
		Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition, Series 2010E:
	1,705	5.000%, 4/01/18		No Opt. Call		AA–		1,739,475
	1,790	5.000%, 4/01/19		No Opt. Call		AA–		1,894,787
	1,880	5.000%, 4/01/20		No Opt. Call		AA–		2,057,528
	3,675	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2008B, 5.250%, 10/01/17 – AGM Insured		No Opt. Call		AA		3,675,919
	7,730	North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.000%, 10/01/20		No Opt. Call		A		8,197,047
	10,000	Orlando Utilities Commission, Florida, Utility System Revenue Bonds, Refunding Series 2017A, 5.000%, 10/01/27 (Mandatory put 10/01/20)		No Opt. Call		AA		11,093,400
	915	Orlando-Orange County Expressway Authority, Florida, Senior Lien Revenue Bonds, Series 1988, 7.625%, 7/01/18 – AMBAC Insured (ETM)		No Opt. Call		A (4)		956,770
	85	Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/25 (Pre-refunded 10/01/21)		10/21 at 100.00		N/R (4)		97,487
	4,915	Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/25		10/21 at 100.00		AA+		5,586,438
		Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2014:
	550	5.000%, 9/01/20		No Opt. Call		A+		607,937
	500	5.000%, 9/01/22		No Opt. Call		A+		578,185
	510	5.000%, 9/01/23		No Opt. Call		A+		599,398
	2,360	Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperative, Series 2007B, 5.350%, 3/15/42 (Mandatory put 5/01/18) – AMBAC Insured		No Opt. Call		A–		2,416,900
	3,060	South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 5.000%, 5/01/19		No Opt. Call		AA		3,244,946
	1,620	South Florida Water Management District, Certificates of Participation, Series 2015, 5.000%, 10/01/19		No Opt. Call		AA		1,741,792
	5,730	Tampa Bay, Florida, Regional Water Supply Authority, Utility System Revenue Bonds, Series 2015A, 5.000%, 10/01/26		10/25 at 100.00		AA+		6,991,058
		Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A:
	1,085	5.000%, 9/01/18		No Opt. Call		A+		1,124,320
	3,475	5.000%, 9/01/19		No Opt. Call		A+		3,720,995
	865	5.000%, 9/01/20		No Opt. Call		A+		953,931
	770	5.000%, 9/01/21		No Opt. Call		A+		871,840

146 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	545	Tampa, Florida, Revenue Bonds, University of Tampa, Refunding Series 2015, 5.000%, 4/01/21		No Opt. Call		A–	$	607,926
	110	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-2, 6.610%, 5/01/39		12/17 at 100.00		N/R		110,001
	340	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (5)		5/19 at 100.00		N/R		266,135
	115	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (5)		5/22 at 100.00		N/R		71,841
	165	Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.375%, 5/01/18 (6)		No Opt. Call		N/R		2
	460	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (6)		5/18 at 100.00		N/R		289,349
	280	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (6)		5/18 at 100.00		N/R		141,831
	305	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (6)		5/18 at 100.00		N/R		3
	185,120	Total Florida						204,829,641
		Georgia – 1.8%
	2,780	Buford, Georgia, General Obligation Bonds, Series 2015, 4.000%, 1/01/19		No Opt. Call		Aa2		2,877,745
	15,250	Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Vogtle Plant, First Series 2008, 1.650%, 11/01/48 (Mandatory put 6/18/21)		No Opt. Call		A+		14,943,475
		Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Vogtle Plant, First Series 2012:
	7,000	1.850%, 12/01/49 (Mandatory put 8/22/19)		No Opt. Call		AA–		7,002,380
	3,000	1.850%, 12/01/49 (Mandatory put 8/22/19)		No Opt. Call		AA–		3,001,020
	3,000	Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Fourth Series 1994, 2.200%, 10/01/32 (Mandatory put 4/02/19)		No Opt. Call		A+		3,019,350
	3,000	Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste Management Project, Series 2004B, 1.875%, 4/01/33 (Mandatory put 10/01/19)		No Opt. Call		A–		3,028,680
	1,515	DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Refunding Second Resolution Series 2013, 5.000%, 10/01/22		No Opt. Call		Aa3		1,766,399
	8,000	Floyd County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Plant Hammond Project, First Series 2010, 2.350%, 7/01/22 (Mandatory put 12/11/20)		No Opt. Call		A+		8,097,280
	20	Georgia Municipal Electric Authority, General Power Revenue Bonds, Series 1991V, 6.600%, 1/01/18 – NPFG Insured		No Opt. Call		A+		20,280
	2,105	Georgia State, General Obligation Bonds, Series 2009B, 4.000%, 1/01/21 (Pre-refunded 1/01/19)		1/19 at 100.00		AAA		2,182,759
	11,440	Georgia State, General Obligation Bonds, Series 2009D, 5.000%, 5/01/20 (Pre-refunded 5/01/19)		5/19 at 100.00		AAA		12,161,978
	55	Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Refunding Series 1992N, 6.250%, 7/01/18 – NPFG Insured (ETM)		No Opt. Call		Aa1 (4)		57,218
	2,000	Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Scherer Plant, Series 2009, 2.350%, 10/01/48 (Mandatory put 12/11/20)		No Opt. Call		A+		2,024,320

NUVEEN 147

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Georgia (continued)
$	3,750	Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Gulf Power Company – Scherer Project, First Series 2010-1, 1.400%, 6/01/49 (Mandatory put 9/19/19)		No Opt. Call		A2	$	3,752,363
	7,630	Municipal Electric Authority of Georgia, Project One Subordinate Lien Revenue Bonds, Series 2008A, 5.250%, 1/01/18		No Opt. Call		A		7,710,802
	3,005	Municipal Gas Authority of Georgia, Gas Revenue Bonds, Gas Portfolio III Project, Series 2014U, 5.000%, 10/01/19		No Opt. Call		AA–		3,229,984
	5,270	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Agnes Scott College, Refunding Series 2015B, 2.500%, 6/01/30 (Mandatory put 6/01/19)		3/19 at 100.00		A+		5,338,141
		Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Refunding Series 2012C:
	500	5.000%, 10/01/17		No Opt. Call		Baa2		500,095
	580	5.000%, 10/01/20		No Opt. Call		Baa2		630,953
	79,900	Total Georgia						81,345,222
		Hawaii – 1.0%
	15,530	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Series 2017A, 3.100%, 5/01/26 (Alternative Minimum Tax)		No Opt. Call		A–		15,816,528
		Hawaii State, General Obligation Bonds, Series 2011DZ:
	6,295	5.000%, 12/01/18		No Opt. Call		AA+		6,590,550
	120	5.000%, 12/01/18 (ETM)		No Opt. Call		N/R (4)		125,713
		Hawaii State, General Obligation Bonds, Series 2013EH:
	3,165	5.000%, 8/01/21		No Opt. Call		AA+		3,611,012
	6,840	5.000%, 8/01/21 (ETM)		No Opt. Call		N/R (4)		7,815,863
	65	5.000%, 8/01/21 (ETM)		No Opt. Call		N/R (4)		74,274
	2,600	Hawaii State, General Obligation Bonds, Series 2016FE, 5.000%, 10/01/20		No Opt. Call		AA+		2,896,088
	1,490	Hawaiian Electric Company Inc. and Its Subsidiaries, Special Purpose Revenue Bonds, Department of Budget and Finance of the State of Hawaii, Series 2015, 3.250%, 1/01/25 (Alternative Minimum Tax)		No Opt. Call		A–		1,557,646
	5,740	Honolulu City and County, Hawaii, General Obligation Bonds, Refunding Series 2017D, 5.000%, 9/01/30		9/27 at 100.00		Aa1		7,050,614
	2,150	Honolulu City and County, Hawaii, Wastewater System Revenue Bonds, First Bond Resolution, Refunding Senior Series 2015B, 5.000%, 7/01/26		7/25 at 100.00		Aa2		2,614,679
	43,995	Total Hawaii						48,152,967
		Idaho – 0.4%
	10,470	Idaho State, Tax Anticipation Notes, Series 2017, 4.000%, 6/29/18		No Opt. Call		SP-1+		10,707,983
	9,240	Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, Refunding Series 2016, 2.750%, 10/01/24		No Opt. Call		BB+		8,961,599
	19,710	Total Idaho						19,669,582

148 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois – 11.7%
		Adams County School District 172, Quincy, Illinois, General Obligation Bonds, Series 2016:
$	600	3.000%, 2/01/18 – AGM Insured		No Opt. Call		AA	$	603,456
	250	4.000%, 2/01/19 – AGM Insured		No Opt. Call		AA		258,493
	250	4.000%, 2/01/20 – AGM Insured		No Opt. Call		AA		264,050
	250	4.000%, 2/01/21 – AGM Insured		No Opt. Call		AA		268,750
	580	4.000%, 2/01/22 – AGM Insured		No Opt. Call		AA		630,483
	1,290	5.000%, 2/01/25 – AGM Insured		No Opt. Call		AA		1,518,653
	1,455	5.000%, 2/01/27 – AGM Insured		2/26 at 100.00		AA		1,710,527
	1,015	Bourbonnais, Illinois, Industrial Project Revenue Bonds, Olivet Nazarene University Project, Series 2010, 5.000%, 11/01/20 (ETM)		11/18 at 100.00		BBB– (4)		1,077,372
	2,645	Bourbonnais, Illinois, Industrial Project Revenue Bonds, Olivet Nazarene University Project, Series 2010, 5.125%, 11/01/25 (Pre-refunded 11/01/20)		11/20 at 100.00		BBB– (4)		2,953,142
	423	Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016, 2.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		421,257
		Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016:
	298	1.200%, 3/01/18 – BAM Insured		No Opt. Call		AA		297,836
	320	1.500%, 3/01/19 – BAM Insured		No Opt. Call		AA		319,722
	393	1.700%, 3/01/20 – BAM Insured		No Opt. Call		AA		392,568
	238	1.700%, 3/01/20 – BAM Insured		No Opt. Call		AA		237,738
	482	1.900%, 3/01/21 – BAM Insured		No Opt. Call		AA		481,470
	297	2.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		295,776
	19,250	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 6.750%, 12/01/30		12/27 at 100.00		N/R		23,154,285
	1,405	Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/17 – FGIC Insured		No Opt. Call		A		1,399,478
	5,000	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2013A, 5.000%, 1/01/21 (Alternative Minimum Tax)		No Opt. Call		A		5,555,600
	13,000	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2016B, 5.000%, 1/01/20		No Opt. Call		A		14,110,980
		Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2015B:
	2,755	5.000%, 1/01/20		No Opt. Call		A		2,990,442
	1,875	5.000%, 1/01/21		No Opt. Call		A		2,096,044
	3,510	Chicago, Illinois, General Obligation Bonds, Modern Schools Across Chicago Program, Series 2007J, 5.000%, 12/01/21 – AMBAC Insured		12/17 at 100.00		BBB+		3,521,653
		Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C:
	1,670	5.000%, 1/01/26		1/19 at 100.00		BBB+		1,722,071
	2,395	5.000%, 1/01/27		1/19 at 100.00		BBB+		2,469,676
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	6,230	5.000%, 1/01/23		No Opt. Call		BBB+		6,895,239
	7,230	5.000%, 1/01/24		No Opt. Call		BBB+		8,088,201
	4,205	5.000%, 1/01/25		No Opt. Call		BBB+		4,732,013
	1,840	5.000%, 1/01/26		No Opt. Call		BBB+		2,077,102
	2,025	Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.000%, 12/01/20		No Opt. Call		A+		2,193,439

NUVEEN 149

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Cook County High School District 212 Leyden, Illinois, General Obligation Bonds, Limited Tax Series 2016C:
$	1,000	5.000%, 12/01/23 – BAM Insured		No Opt. Call		AA	$	1,169,550
	1,800	5.000%, 12/01/25 – BAM Insured		12/24 at 100.00		AA		2,103,372
		Cook County Township High School District 225 Northfield, Illinois, General Obligation Bonds, Series 2016A:
	3,905	5.000%, 12/01/19		No Opt. Call		AAA		4,230,052
	5,400	5.000%, 12/01/20		No Opt. Call		AAA		6,033,150
	3,375	5.000%, 12/01/22		No Opt. Call		AAA		3,946,016
	7,195	Cook County, Illinois, General Obligation Bonds, Refunding Series 2009A, 5.000%, 11/15/17		No Opt. Call		AA–		7,230,759
	4,750	Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/22		11/20 at 100.00		AA–		5,211,937
	3,315	Cook County, Illinois, General Obligation Bonds, Refunding Series 2011A, 5.000%, 11/15/18		No Opt. Call		AA–		3,449,622
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C:
	3,445	5.000%, 11/15/27		11/22 at 100.00		AA–		3,796,390
	3,000	5.000%, 11/15/33		11/22 at 100.00		AA–		3,238,680
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A:
	1,800	5.000%, 11/15/18		No Opt. Call		AA–		1,873,098
	2,940	5.000%, 11/15/19		No Opt. Call		AA–		3,143,918
	375	Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 1.550%, 3/01/19 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		375,161
		Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017:
	725	1.550%, 3/01/19 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		725,312
	760	1.800%, 3/01/20 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		760,585
	795	2.000%, 3/01/21 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		795,087
	835	2.200%, 3/01/22 (WI/DD, Settling 10/18/17) – BAM Insured		No Opt. Call		AA		835,768
	10,695	Illinois Development Finance Authority, Revenue Bonds, St Vincent de Paul Center Project, Series 2000A, 1.875%, 11/15/39 (Mandatory put 3/01/19)		No Opt. Call		AA+		10,773,287
	10,000	Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Series 1998B, 1.650%, 7/01/25 (Mandatory put 2/01/19)		No Opt. Call		AA+		10,048,400
	13,220	Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Series 2001B-1, 1.100%, 7/01/36 (Mandatory put 2/15/18)		No Opt. Call		AA+		13,229,254
	19,475	Illinois Finance Authority, Gas Supply Refunding Revenue Bonds, The Peoples Gas Light and Coke Company Project, Series 2010B, 1.875%, 2/01/33 (Mandatory put 8/01/20)		No Opt. Call		Aa3		19,681,630
	11,300	Illinois Finance Authority, Midwestern Disaster Area Industrial Development Revenue Bonds, Cargill, Incorporated Project, Series 2012, 1.750%, 11/01/38 (Mandatory put 11/06/17)		No Opt. Call		A		11,302,712
	1,010	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2014, 5.000%, 8/01/20		No Opt. Call		AA+		1,114,798
	1,330	Illinois Finance Authority, Revenue Bonds, Alexian Brothers Health System, Refunding Series 2005B, 5.000%, 1/01/20 (Pre-refunded 4/14/18) – AGM Insured		4/18 at 100.00		A2 (4)		1,358,755
	950	Illinois Finance Authority, Revenue Bonds, Alexian Brothers Health System, Series 2010, 5.000%, 2/15/21		2/20 at 100.00		A2		1,026,846
	10,080	Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2012E-1, 2.250%, 11/15/42 (Mandatory put 4/29/22)		No Opt. Call		AA+		10,267,286

150 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012:
$	1,090	5.000%, 9/01/18		No Opt. Call		BBB–	$	1,120,825
	930	5.000%, 9/01/19		No Opt. Call		BBB–		983,066
	8,665	5.000%, 9/01/27		9/22 at 100.00		BBB–		9,375,357
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:
	325	5.000%, 9/01/19		No Opt. Call		BBB–		343,545
	770	5.000%, 9/01/20		No Opt. Call		BBB–		832,801
	350	5.000%, 9/01/21		No Opt. Call		BBB–		385,606
	625	5.000%, 9/01/22		No Opt. Call		BBB–		697,437
	620	5.000%, 9/01/23		No Opt. Call		BBB–		698,994
	2,240	5.000%, 9/01/24		No Opt. Call		BBB–		2,543,027
	865	5.000%, 9/01/25		9/24 at 100.00		BBB–		972,770
	2,055	Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008B, 5.500%, 8/15/21 (Pre-refunded 8/15/18)		8/18 at 100.00		AA (4)		2,135,453
		Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016:
	2,500	5.000%, 12/01/21		No Opt. Call		A3		2,810,625
	2,755	5.000%, 12/01/22		No Opt. Call		A3		3,144,805
		Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A:
	855	5.000%, 7/01/21		No Opt. Call		A		958,865
	1,000	5.000%, 7/01/23		No Opt. Call		A		1,158,790
	920	5.000%, 7/01/24		No Opt. Call		A		1,081,506
	1,175	Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Series 2008A, 5.000%, 7/01/18		No Opt. Call		A		1,207,924
		Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A:
	1,715	5.000%, 11/15/20		No Opt. Call		A		1,896,053
	1,100	5.000%, 11/15/21		No Opt. Call		A		1,245,860
		Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C:
	4,145	5.000%, 2/15/20		No Opt. Call		BBB		4,444,020
	5,605	5.000%, 2/15/21		No Opt. Call		BBB		6,152,889
	5,395	5.000%, 2/15/22		No Opt. Call		BBB		6,034,631
	4,000	5.000%, 2/15/23		No Opt. Call		BBB		4,544,400
		Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A:
	1,185	5.000%, 11/15/17		No Opt. Call		A+		1,191,044
	1,000	5.000%, 11/15/18		No Opt. Call		A+		1,041,910
	1,190	5.000%, 11/15/20		No Opt. Call		A+		1,317,556
		Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2005:
	875	5.000%, 8/15/18 – AGM Insured (ETM)		No Opt. Call		AA (4)		905,441
	405	5.250%, 8/15/19 – AGM Insured (ETM)		No Opt. Call		AA (4)		436,521
	830	Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C, 5.000%, 3/01/25		No Opt. Call		A+		972,046
		Illinois Finance Authority, Revenue Bonds, Swedish Covenant Hospital, Series 2016A:
	1,000	5.000%, 8/15/19		No Opt. Call		BBB		1,056,380
	1,400	5.000%, 8/15/21		No Opt. Call		BBB		1,539,034
	1,000	5.000%, 8/15/22		No Opt. Call		BBB		1,113,280
	1,000	5.000%, 8/15/24		No Opt. Call		BBB		1,134,920
	2,000	5.000%, 8/15/25		No Opt. Call		BBB		2,280,700
	3,000	5.000%, 8/15/26		No Opt. Call		BBB		3,437,850

NUVEEN 151

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2014A:
$	1,045	5.000%, 10/01/19		No Opt. Call		AA+	$	1,125,622
	2,200	5.000%, 10/01/20		No Opt. Call		AA+		2,444,662
	5,345	Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/20		No Opt. Call		AA+		5,939,417
		Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Refunding Series 2015A:
	3,000	5.000%, 2/01/18		No Opt. Call		A1		3,040,350
	3,000	5.000%, 2/01/19		No Opt. Call		A1		3,149,940
	4,035	5.000%, 2/01/20		No Opt. Call		A1		4,369,945
	10,820	5.000%, 2/01/21		No Opt. Call		A1		12,059,106
	5,035	5.000%, 2/01/22		No Opt. Call		A1		5,728,873
	2,600	5.000%, 2/01/25		No Opt. Call		A1		3,098,212
		Illinois State, General Obligation Bonds, February Series 2014:
	655	5.000%, 2/01/19		No Opt. Call		BBB		678,646
	1,390	5.000%, 2/01/20		No Opt. Call		BBB		1,469,286
	4,175	5.000%, 2/01/22		No Opt. Call		BBB		4,522,443
	3,320	Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/21		No Opt. Call		BBB		3,558,476
		Illinois State, General Obligation Bonds, October Series 2016:
	10,000	5.000%, 2/01/20		No Opt. Call		BBB		10,570,400
	8,000	5.000%, 2/01/21		No Opt. Call		BBB		8,586,000
	1,290	Illinois State, General Obligation Bonds, Refunding Series 2007B, 5.250%, 1/01/20		No Opt. Call		BBB		1,368,445
		Illinois State, General Obligation Bonds, Refunding Series 2010:
	4,995	5.000%, 1/01/18 – AGM Insured		No Opt. Call		AA		5,038,906
	22,220	5.000%, 1/01/18		No Opt. Call		BBB		22,400,204
	14,720	5.000%, 1/01/24		1/20 at 100.00		BBB		15,409,338
	4,120	Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/20		No Opt. Call		BBB		4,394,969
	1,000	Illinois State, General Obligation Bonds, Series 2007A, 5.000%, 6/01/22 – AGM Insured		12/17 at 100.00		AA		1,019,800
		Illinois State, General Obligation Bonds, Series 2013:
	4,120	5.000%, 7/01/21		No Opt. Call		BBB		4,449,971
	3,075	5.500%, 7/01/25		7/23 at 100.00		BBB		3,445,630
		Illinois State, Sales Tax Revenue Bonds, Build Illinois, Junior Lien Series 2013:
	4,600	5.000%, 6/15/18		No Opt. Call		AA+		4,725,258
	6,220	5.000%, 6/15/19		No Opt. Call		AA+		6,594,444
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A:
	1,615	5.000%, 12/01/20		No Opt. Call		AA–		1,803,099
	1,750	5.000%, 12/01/21		No Opt. Call		AA–		2,004,537
	2,100	5.000%, 12/01/22		No Opt. Call		AA–		2,449,881
	11,910	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014D, 5.000%, 1/01/24		No Opt. Call		AA–		14,123,950
		Kane County Community Unit School District 304 Geneva, Illinois, General Obligation Bonds, Refunding Series 2016:
	2,500	5.000%, 1/01/26		No Opt. Call		AA+		3,025,725
	5,030	5.000%, 1/01/27		1/26 at 100.00		AA+		6,024,783

152 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Kane, Cook and DuPage Counties School District 46, Elgin, Illinois, General Obligation Bonds, Refunding Series 2015C:
$	1,000	4.000%, 1/01/18		No Opt. Call		AA–	$	1,007,670
	1,250	5.000%, 1/01/19		No Opt. Call		AA–		1,310,113
		LaSalle and Bureau Counties High School District 120 LaSalle-Peru, Illinois, General Obligation Bonds, School Building Series 2017:
	980	5.000%, 12/01/21 – BAM Insured		No Opt. Call		AA		1,114,427
	1,000	5.000%, 12/01/22 – BAM Insured		No Opt. Call		AA		1,156,930
	1,035	5.000%, 12/01/23 – BAM Insured		No Opt. Call		AA		1,218,361
	1,235	5.000%, 12/01/26 – BAM Insured		No Opt. Call		AA		1,496,672
	1,900	Peoria Public Building Commission, Illinois, School District Facility Revenue Bonds, Peoria County School District 150 Project, Series 2009A, 0.000%, 12/01/22 – AGC Insured		12/18 at 79.62		AA		1,486,161
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:
	6,455	5.000%, 6/01/18		No Opt. Call		A		6,620,442
	10,815	5.000%, 6/01/19		No Opt. Call		A		11,475,796
	6,015	5.250%, 6/01/20		No Opt. Call		A		6,621,553
	280	5.250%, 6/01/21		No Opt. Call		A		317,265
	3,545	Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1990A, 7.200%, 11/01/20 – AMBAC Insured		No Opt. Call		AA		3,877,273
	2,975	Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1994D, 7.750%, 6/01/19 – FGIC Insured		No Opt. Call		AA		3,194,109
		Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017:
	1,010	2.850%, 3/01/22 – BAM Insured		No Opt. Call		AA		1,031,250
	1,135	3.200%, 3/01/24 – BAM Insured		No Opt. Call		AA		1,171,672
	1,000	3.300%, 3/01/25 – BAM Insured		No Opt. Call		AA		1,033,370
	1,260	3.450%, 3/01/26 – BAM Insured		No Opt. Call		AA		1,300,106
	1,210	3.600%, 3/01/28 – BAM Insured		3/27 at 100.00		AA		1,245,949
		Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Hospital Sisters Services, Inc. Obligated Group, Series 2017A:
	2,365	5.000%, 2/15/26		No Opt. Call		AA–		2,802,998
	3,500	5.000%, 2/15/27		No Opt. Call		AA–		4,166,120
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	2,665	5.000%, 3/01/19		No Opt. Call		A		2,803,367
	2,495	5.000%, 3/01/20		No Opt. Call		A		2,706,302
	2,125	5.000%, 3/01/21		No Opt. Call		A		2,366,931
	2,550	5.000%, 3/01/22		No Opt. Call		A		2,895,397
	2,415	Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2012, 4.000%, 11/01/19		No Opt. Call		A+		2,548,066
		Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008:
	1,090	5.750%, 6/01/26		6/18 at 100.00		AA		1,123,278
	1,035	5.750%, 6/01/27		6/18 at 100.00		AA		1,066,454
		Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013:
	1,450	0.000%, 2/01/21		No Opt. Call		A+		1,350,588
	6,220	0.000%, 2/01/22		No Opt. Call		A+		5,615,105
	6,820	0.000%, 2/01/23		No Opt. Call		A+		5,950,723
	505,951	Total Illinois						542,349,638

NUVEEN 153

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana – 4.2%
		Carmel Local Public Improvement Bond Bank, Indiana, Multipurpose Revenue Bonds, Series 2016:
$	700	4.000%, 7/15/18		No Opt. Call		AA+	$	716,492
	750	5.000%, 1/15/19		No Opt. Call		AA+		788,250
	1,215	5.000%, 7/15/19		No Opt. Call		AA+		1,299,965
	1,000	5.000%, 1/15/20		No Opt. Call		AA+		1,087,810
	815	5.000%, 7/15/20		No Opt. Call		AA+		901,178
		Hamilton Southeastern Consolidated School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Refunding Series 2015D:
	1,190	5.000%, 1/15/18		No Opt. Call		AA+		1,204,137
	1,250	5.000%, 7/15/18		No Opt. Call		AA+		1,289,513
	2,250	5.000%, 1/15/19		No Opt. Call		AA+		2,363,850
	2,000	5.000%, 1/15/20		No Opt. Call		AA+		2,174,120
	1,000	5.000%, 7/15/20		No Opt. Call		AA+		1,104,310
		Hobart Building Corporation, Indiana, First Mortgage Revenue Bonds, Refunding Series 2016:
	1,515	3.000%, 1/15/18		No Opt. Call		AA+		1,523,984
	1,655	4.000%, 7/15/19		No Opt. Call		AA+		1,735,996
	1,890	3.000%, 1/15/20		No Opt. Call		AA+		1,960,440
	1,540	4.000%, 7/15/20		No Opt. Call		AA+		1,649,263
	1,590	4.000%, 1/15/21		No Opt. Call		AA+		1,720,730
	2,200	5.000%, 1/15/22		No Opt. Call		AA+		2,504,744
	1,800	Indiana Development Finance Authority, Solid Waste Disposal Revenue Refunding Bonds, Waste Management Inc. Project, Series 2001, 1.750%, 10/01/31 (Mandatory put 10/01/18) (Alternative Minimum Tax)		No Opt. Call		A–		1,807,974
	360	Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 6.000%, 10/01/21		10/19 at 100.00		B–		359,618
	635	Indiana Finance Authority, Hospital Revenue Bonds, Beacon Health System Obligated Group, Series 2013A, 5.000%, 8/15/18		No Opt. Call		AA–		656,863
		Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010:
	1,495	5.000%, 3/01/19 (ETM)		No Opt. Call		N/R (4)		1,579,886
	2,120	5.000%, 3/01/20 (ETM)		No Opt. Call		N/R (4)		2,316,715
		Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A:
	1,075	4.000%, 10/01/20		No Opt. Call		BBB+		1,151,067
	435	4.000%, 10/01/21		No Opt. Call		BBB+		473,141
	130	5.000%, 10/01/23		No Opt. Call		BBB+		151,726
		Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health System Obligated Group, Refunding Series 2012A:
	865	5.000%, 5/01/19		No Opt. Call		AA–		916,710
	765	5.000%, 5/01/20		No Opt. Call		AA–		837,369
	2,000	5.000%, 5/01/21		No Opt. Call		AA–		2,252,400
		Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A:
	370	5.000%, 10/01/17		No Opt. Call		AA		370,085
	535	5.000%, 10/01/18		No Opt. Call		AA		556,357
	375	5.000%, 10/01/19		No Opt. Call		AA		403,076
	785	5.000%, 10/01/20		No Opt. Call		AA		868,869

154 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
		Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2015A:
$	1,400	5.000%, 10/01/19		No Opt. Call		AA	$	1,504,818
	680	5.000%, 10/01/20		No Opt. Call		AA		751,590
	590	5.000%, 10/01/23		No Opt. Call		AA		694,076
	1,000	5.000%, 10/01/24		No Opt. Call		AA		1,191,230
	1,800	5.000%, 10/01/25		10/24 at 100.00		AA		2,142,936
	1,240	5.000%, 10/01/26		10/24 at 100.00		AA		1,473,579
	800	5.000%, 10/01/27		10/24 at 100.00		AA		944,408
	3,720	Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2005A-10, 1.500%, 11/01/27 (Mandatory put 5/01/20)		No Opt. Call		AA		3,715,908
	3,370	Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2005A-4, 1.500%, 10/01/27 (Mandatory put 5/01/20)		No Opt. Call		AA+		3,366,293
	260	Indiana State University Board of Trustees, Indiana State University Housing and Dining System Revenue Bonds, Series 2014, 4.000%, 4/01/22		No Opt. Call		AA–		287,027
		Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Refunding Series 2006:
	1,630	5.500%, 7/01/19 – NPFG Insured		No Opt. Call		AA–		1,749,593
	3,690	5.500%, 1/01/20 – NPFG Insured		No Opt. Call		AA–		4,029,849
	8,000	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007B, 5.250%, 7/01/24 – NPFG Insured		No Opt. Call		AA–		9,624,000
	10,200	Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2017A, 5.000%, 8/15/25		No Opt. Call		AA		12,386,064
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A:
	250	4.000%, 10/01/17		No Opt. Call		A		250,043
	300	4.000%, 10/01/18		No Opt. Call		A		308,325
	285	5.000%, 10/01/19		No Opt. Call		A		305,543
	350	5.000%, 10/01/20		No Opt. Call		A		386,194
	450	5.000%, 10/01/21		No Opt. Call		A		509,598
	460	5.000%, 10/01/22		No Opt. Call		A		531,231
	610	5.000%, 10/01/23		No Opt. Call		A		714,109
	420	5.000%, 10/01/24		No Opt. Call		A		498,809
	505	5.000%, 10/01/25		10/24 at 100.00		A		594,723
	760	5.000%, 10/01/26		10/24 at 100.00		A		889,124
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2016A:
	1,910	5.000%, 10/01/21		No Opt. Call		A		2,162,960
	4,400	5.000%, 10/01/22		No Opt. Call		A		5,075,620
	10,000	5.000%, 10/01/23		No Opt. Call		A		11,725,200
		Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A:
	400	4.000%, 4/01/18		No Opt. Call		Baa3		403,780
	550	3.000%, 4/01/19		No Opt. Call		Baa3		555,869
	11,500	Mount Vernon, Indiana, Environmental Improvement Revenue Bonds, Southern Indiana Gas and Electric Company Project, Refunding Series 2015, 2.375%, 9/01/55 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		Aa3		11,666,405
	1,000	Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2015A, 5.000%, 1/01/22		No Opt. Call		A		1,120,470

NUVEEN 155

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	2,665	Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company Project, Series 2008D, 2.050%, 4/01/25 (Mandatory put 6/01/21)		No Opt. Call		A–	$	2,680,031
		Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014:
	250	4.000%, 2/01/18		No Opt. Call		A		252,335
	520	4.000%, 2/01/19		No Opt. Call		A		538,002
	800	5.000%, 2/01/20		No Opt. Call		A		862,752
	640	5.000%, 2/01/21		No Opt. Call		A		709,171
	1,595	4.000%, 2/01/24		No Opt. Call		A		1,784,821
	7,500	Warrick County, Indiana, Environmental Improvement Revenue Bonds, Southern Indiana Gas and Electric Company, Series 2015, 2.375%, 9/01/55 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		Aa3		7,608,525
	32,285	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2008, 1.850%, 6/01/44 (Mandatory put 10/01/19)		No Opt. Call		A1		32,459,662
	10,000	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2015, 5.000%, 11/01/45 (Mandatory put 11/01/22) (Alternative Minimum Tax)		No Opt. Call		A1		11,407,600
	10,320	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2016A, 5.000%, 3/01/46 (Mandatory put 3/01/23)		No Opt. Call		A1		11,819,393
		Zionsville Community Schools Building Corporation, Indiana, First Mortgage Bonds, Refunding Series 2014B:
	2,020	3.000%, 7/15/19		No Opt. Call		AA–		2,088,640
	1,240	4.000%, 1/15/20		No Opt. Call		AA–		1,320,253
	178,670	Total Indiana						193,817,197
		Iowa – 0.8%
		Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011:
	1,150	4.000%, 1/01/18 – AGM Insured (ETM)		No Opt. Call		AA (4)		1,159,039
	1,330	5.000%, 1/01/19 – AGM Insured (ETM)		No Opt. Call		AA (4)		1,396,540
	1,380	5.000%, 1/01/20 – AGM Insured (ETM)		No Opt. Call		AA (4)		1,500,198
	1,245	Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011, 5.000%, 1/01/22 (Pre-refunded 1/01/21) – AGM Insured		1/21 at 100.00		AA (4)		1,397,712
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013:
	9,730	5.000%, 12/01/19		No Opt. Call		B		10,068,215
	7,270	5.500%, 12/01/22		12/18 at 100.00		B		7,431,539
	4,900	5.250%, 12/01/25		12/23 at 100.00		B		5,198,214
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016:
	2,000	5.875%, 12/01/26		6/18 at 105.00		B		2,119,500
	4,775	5.875%, 12/01/27		6/19 at 105.00		B		5,091,678
	3,330	Iowa State, Special Obligation Bonds, I-Jobs Program, Series 2009A, 5.000%, 6/01/18 (ETM)		No Opt. Call		AA (4)		3,422,008
	37,110	Total Iowa						38,784,643

156 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kansas – 0.2%
		Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A:
$	165	5.000%, 1/01/20		No Opt. Call		AA–	$	178,947
	200	5.000%, 1/01/23		1/20 at 100.00		AA–		216,672
	1,080	Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/20 (ETM)		No Opt. Call		N/R (4)		1,174,316
	1,295	Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/23 (Pre-refunded 1/01/20)		1/20 at 100.00		N/R (4)		1,407,186
		Topeka Public Building Commission, Kansas, Revenue Bonds, Kansas Department of Administration – 10th and Jackson Projects, Series 2007A:
	2,245	5.000%, 6/01/25 – NPFG Insured		6/18 at 102.00		A+		2,346,429
	2,945	5.000%, 6/01/26 – NPFG Insured		6/18 at 102.00		A+		3,077,525
		Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Refunding & Improvement Series 2014A:
	625	4.000%, 9/01/18		No Opt. Call		A+		641,988
	2,000	5.000%, 9/01/20		No Opt. Call		A+		2,211,280
	10,555	Total Kansas						11,254,343
		Kentucky – 2.6%
	18,500	Carroll County, Kentucky, Pollution Control Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2016A, 1.050%, 9/01/42 (Mandatory put 9/01/19)		No Opt. Call		A1		18,342,380
		Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A:
	1,500	5.000%, 6/01/21		No Opt. Call		BBB		1,646,130
	1,375	5.000%, 6/01/22		No Opt. Call		BBB		1,530,911
	6,000	5.000%, 6/01/24		No Opt. Call		BBB		6,814,380
	4,200	5.000%, 6/01/25		No Opt. Call		BBB		4,790,814
	8,705	Kentucky Economic Development Finance Authority, Revenue Bonds, Catholic Health Initiatives, Refunding Series 2009B, 2.700%, 5/01/39 (Mandatory put 11/10/21)		No Opt. Call		BBB+		8,916,444
	6,000	Kentucky State Property and Buildings Commission, Revenue Bonds, Project 112, Refunding Series 2016B, 5.000%, 11/01/19		No Opt. Call		A1		6,450,360
	3,750	Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.000%, 6/01/18		No Opt. Call		A1		3,846,075
		Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A:
	5,025	5.000%, 12/01/19		No Opt. Call		BBB+		5,355,344
	2,100	3.500%, 12/01/20		No Opt. Call		BBB+		2,194,206
	3,025	5.000%, 12/01/23		6/22 at 100.00		BBB+		3,349,371
	2,970	5.000%, 12/01/24		6/22 at 100.00		BBB+		3,268,158
	4,000	Louisville-Jefferson County Metropolitan Government, Kentucky, Environmental Facilities Revenue, Louisville Gas & Electric Company Project, Refunding Series 2007A, 1.250%, 6/01/33 (Mandatory put 6/03/19)		No Opt. Call		A1		4,002,840
	6,500	Louisville-Jefferson County Metropolitan Government, Kentucky, Environmental Facilities Revenue, Louisville Gas & Electric Company Project, Refunding Series 2007B, 1.250%, 6/01/33 (Mandatory put 6/03/19)		No Opt. Call		A1		6,504,615
	13,500	Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 1.350%, 11/01/27 (Mandatory put 5/01/18) (Alternative Minimum Tax)		No Opt. Call		A1		13,507,830

NUVEEN 157

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kentucky (continued)
$	10,000	Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2003A, 1.500%, 10/01/33 (Mandatory put 4/01/19)		No Opt. Call		A1	$	10,023,800
	2,015	Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2005A, 2.200%, 2/01/35 (Mandatory put 8/01/19)		8/19 at 100.00		A1		2,042,364
		Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011:
	1,025	5.000%, 3/01/18		No Opt. Call		A3		1,040,836
	2,670	5.250%, 3/01/19		No Opt. Call		A3		2,811,110
	1,135	6.000%, 3/01/20		No Opt. Call		A3		1,253,846
	1,205	6.000%, 3/01/21		No Opt. Call		A3		1,377,122
	3,090	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 1.350%, 11/01/27 (Mandatory put 5/01/18) (Alternative Minimum Tax)		No Opt. Call		A1		3,091,792
	3,250	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2002A, 1.050%, 9/01/26 (Mandatory put 3/01/18)		No Opt. Call		A1		3,249,675
	3,875	Warren County, Kentucky, Hospital Refunding Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2013, 5.000%, 4/01/23		No Opt. Call		A+		4,385,841
	115,415	Total Kentucky						119,796,244
		Louisiana – 4.9%
	14,075	De Soto Parrish, Louisiana, Pollution Control Revenue Bonds, Southwestern Electric Power Company Project, Refunding Series 2010, 1.600%, 1/01/19		No Opt. Call		A–		14,084,712
	2,140	East Baton Rouge Parish, Louisiana, Sales Tax Revenue Bonds, Road & Street Improvement, Refunding Series 2015, 5.000%, 8/01/22		No Opt. Call		AA–		2,464,360
	9,385	East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Variable Rate Demand Obligation Series 2011A, 1.369%, 2/01/46 (Mandatory put 8/01/18) (1-Month LIBOR* 70% reference rate + 0.50% spread), (11)		2/18 at 100.00		AA		9,381,246
		Ernest N. Morial-New Orleans Exhibition Hall Authority, Louisiana, Special Tax Bonds, Refunding Series 2014:
	2,500	5.000%, 7/15/19		No Opt. Call		AA+		2,667,975
	2,070	5.000%, 7/15/20		No Opt. Call		AA+		2,278,697
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2015:
	1,745	5.000%, 6/01/18		No Opt. Call		A1		1,790,335
	2,350	5.000%, 6/01/19		No Opt. Call		A1		2,497,298
	2,095	5.000%, 6/01/20		No Opt. Call		A1		2,296,623
	2,000	5.000%, 6/01/21 – AGM Insured		No Opt. Call		AA		2,258,340
	2,100	5.000%, 6/01/22 – AGM Insured		No Opt. Call		AA		2,425,731
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A:
	33,375	5.000%, 6/01/23		No Opt. Call		A1		39,050,085
	9,000	5.000%, 6/01/24		No Opt. Call		A1		10,689,210
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, East Baton Rouge Parish Road Improvements Project, Series 2015:
	1,545	5.000%, 8/01/19		No Opt. Call		AA		1,649,488
	2,245	5.000%, 8/01/24		No Opt. Call		AA		2,668,429

158 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
$	350	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Livingston Parish North Park Project, Series 2008, 6.100%, 10/01/19		10/18 at 100.00		A+	$	366,926
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007A:
	2,700	6.500%, 12/15/17 (6)		No Opt. Call		N/R		1,754,730
	435	6.000%, 12/15/37 (6)		12/17 at 100.00		N/R		282,706
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Woman’s Hospital Foundation Project, Refunding Series 2017A:
	1,000	3.000%, 10/01/22		No Opt. Call		A		1,054,610
	1,800	5.000%, 10/01/23		No Opt. Call		A		2,100,816
	1,070	5.000%, 10/01/24		No Opt. Call		A		1,263,135
	1,500	4.000%, 10/01/25		No Opt. Call		A		1,674,435
		Louisiana Public Facilities Authority, Revenue Bonds, Hurricane Recovery Program, Refunding Series 2014:
	1,785	5.000%, 6/01/19		No Opt. Call		A1		1,895,492
	5,015	5.000%, 6/01/20		No Opt. Call		A1		5,488,165
	1,040	Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 5.000%, 5/15/22		No Opt. Call		A3		1,189,032
		Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Refunding Series 2016A:
	1,180	5.000%, 12/15/20		No Opt. Call		A		1,305,941
	1,530	5.000%, 12/15/21		No Opt. Call		A		1,732,771
		Louisiana Public Facilities Authority, Revenue Bonds, University of New Orleans Research and Technology Foundation, Inc. – Student Housing Project, Refunding Series 2014:
	585	5.000%, 9/01/21 – AGM Insured		No Opt. Call		AA		662,132
	580	5.000%, 9/01/22 – AGM Insured		No Opt. Call		AA		669,111
	1,445	5.000%, 9/01/23 – AGM Insured		No Opt. Call		AA		1,697,413
	1,565	5.000%, 9/01/24 – AGM Insured		No Opt. Call		AA		1,862,209
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	620	5.000%, 7/01/18		No Opt. Call		AA–		638,228
	1,600	5.000%, 7/01/19		No Opt. Call		AA–		1,705,856
	1,115	5.000%, 7/01/20		No Opt. Call		AA–		1,226,288
	7,245	5.000%, 7/01/26		7/23 at 100.00		AA–		8,436,006
		Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2017C:
	2,500	5.000%, 5/01/29		11/27 at 100.00		AA		3,065,950
	3,000	5.000%, 5/01/30		11/27 at 100.00		AA		3,653,160
	3,070	5.000%, 5/01/31		11/27 at 100.00		AA		3,714,025
		Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Series 2012A-1:
	80	5.000%, 5/01/19		No Opt. Call		AA		85,005
	85	5.000%, 5/01/20		No Opt. Call		AA		93,415
	3,560	5.000%, 5/01/21		No Opt. Call		AA		4,028,852
	7,000	Louisiana State, General Obligation Bonds, Refunding Series 2014C, 5.000%, 8/01/22		No Opt. Call		AA–		8,121,540
		Louisiana State, General Obligation Bonds, Series 2012A:
	10,000	5.000%, 8/01/19		No Opt. Call		Aa3		10,709,800
	900	5.000%, 8/01/19 (ETM)		No Opt. Call		N/R (4)		965,277
	6,000	Louisiana State, General Obligation Bonds, Series 2014A, 5.000%, 2/01/20		No Opt. Call		AA–		6,530,760
	6,245	Louisiana State, General Obligation Bonds, Series 2015A, 5.000%, 5/01/23		No Opt. Call		AA–		7,347,867

NUVEEN 159

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012:
$	2,860	5.000%, 12/01/19		No Opt. Call		AA–	$	3,087,141
	2,500	5.000%, 12/01/20		No Opt. Call		AA–		2,775,625
	3,600	5.000%, 12/01/21		No Opt. Call		AA–		4,099,032
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015:
	750	4.000%, 12/01/17		No Opt. Call		AA–		754,005
	885	4.000%, 12/01/18		No Opt. Call		AA–		914,329
	1,025	4.000%, 12/01/19		No Opt. Call		AA–		1,084,522
	1,500	5.000%, 12/01/20		No Opt. Call		AA–		1,665,375
	2,000	5.000%, 12/01/21		No Opt. Call		AA–		2,277,240
	7,900	New Orleans, Louisiana, General Obligation Bonds, Series 1998, 5.500%, 12/01/21 – FGIC Insured		No Opt. Call		A+		8,752,015
	1,000	New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/18		No Opt. Call		A		1,025,620
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015:
	1,000	5.000%, 6/01/24		No Opt. Call		A		1,182,490
	525	5.000%, 6/01/26		6/25 at 100.00		A		620,051
	1,100	New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/19		No Opt. Call		A–		1,184,414
	6,410	Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 2010, 4.000%, 12/01/40 (Mandatory put 6/01/22)		No Opt. Call		BBB		6,779,601
	2,295	Shreveport, Louisiana, General Obligation Bonds, Series 2014, 5.000%, 9/01/21		No Opt. Call		A+		2,596,678
		Shreveport, Louisiana, Revenue Bonds, Independence Stadium Project, Refunding Series 2016:
	580	5.000%, 3/01/19 – BAM Insured		No Opt. Call		AA		610,195
	1,000	3.000%, 3/01/21 – BAM Insured		No Opt. Call		AA		1,046,790
	1,000	5.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		1,139,560
		Terrebonne Levee and Conservation District, Louisiana, Public Improvement Sales Tax Bonds, Series 2013:
	1,710	5.000%, 7/01/21		No Opt. Call		A+		1,909,779
	1,680	5.000%, 7/01/22		No Opt. Call		A+		1,907,119
	204,545	Total Louisiana						226,935,763
		Maryland – 1.8%
	6,240	Baltimore County, Maryland, General Obligation Bonds, Refunding Consolidated Public Improvement Series 2009, 5.000%, 8/01/18		No Opt. Call		AAA		6,452,909
	5,000	Maryland Economic Development Corporation, Revenue Bonds, Constellation Energy Group, Inc. Projects, Adjustable Mode, Refunding Series 2006B, 2.550%, 12/01/25 (Mandatory put 6/01/20)		No Opt. Call		BBB		4,998,250
		Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland, College Park Project, Refunding Series 2016:
	835	4.000%, 6/01/18 – AGM Insured		No Opt. Call		AA		851,566
	675	4.000%, 6/01/19 – AGM Insured		No Opt. Call		AA		706,975
	660	4.000%, 6/01/20 – AGM Insured		No Opt. Call		AA		707,335
	725	4.000%, 6/01/21 – AGM Insured		No Opt. Call		AA		792,773

160 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maryland (continued)
		Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015:
$	540	5.000%, 7/01/21		No Opt. Call		BBB	$	608,753
	1,000	5.000%, 7/01/22		No Opt. Call		BBB		1,147,180
	250	5.000%, 7/01/23		No Opt. Call		BBB		290,878
	500	5.000%, 7/01/24		No Opt. Call		BBB		587,775
		Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland Health, Series 2014:
	6,190	5.000%, 7/01/18		No Opt. Call		BBB		6,363,877
	4,000	5.000%, 7/01/19		No Opt. Call		BBB		4,245,880
	5,155	Maryland State, General Obligation Bonds, State & Local Facilities Loan, Second Series 2008, 5.000%, 7/15/18		No Opt. Call		AAA		5,321,764
	13,530	Maryland State, General Obligation Bonds, State & Local Facilities Loan, Third Series 2009C, 5.000%, 11/01/17		No Opt. Call		AAA		13,581,008
	27,740	Maryland State, General Obligation Bonds, State and Local Facilities Loan, Second Series 2015A-2, 5.000%, 8/01/20		No Opt. Call		AAA		30,782,523
	1,845	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 45 Series 2017C-3, 2.500%, 11/01/24 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB		1,849,317
	1,270	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 70 Series 2017C-2, 3.000%, 11/01/25 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB		1,274,877
	845	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 85 Series 2017C-1, 3.500%, 11/01/26 (WI/DD, Settling 11/01/17)		5/20 at 100.00		BB		848,219
	77,000	Total Maryland						81,411,859
		Massachusetts – 1.6%
		Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:
	595	5.000%, 7/01/19		No Opt. Call		BBB–		623,096
	375	5.000%, 7/01/20		No Opt. Call		BBB–		400,211
	555	5.000%, 7/01/21		No Opt. Call		BBB–		601,104
	690	5.000%, 7/01/22		No Opt. Call		BBB–		755,847
	625	5.000%, 7/01/23		No Opt. Call		BBB–		691,650
	735	5.000%, 7/01/24		No Opt. Call		BBB–		819,503
	795	5.000%, 7/01/25		7/24 at 100.00		BBB–		879,008
	5,090	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East, Series 2009C, 6.250%, 11/15/32		5/19 at 100.00		AA–		5,484,984
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Refunding Series 2009A:
	760	5.000%, 11/15/18		No Opt. Call		AAA		794,618
	310	5.000%, 11/15/18 (ETM)		No Opt. Call		N/R (4)		324,325
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Eye and Ear Infirmary, Series 2010C:
	1,815	5.000%, 7/01/18		No Opt. Call		BBB–		1,864,459
	1,000	5.000%, 7/01/19		No Opt. Call		BBB–		1,060,580
	1,000	5.000%, 7/01/20		No Opt. Call		BBB–		1,091,270

NUVEEN 161

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Massachusetts (continued)
$	4,100	Massachusetts Health and Educational Facilities Authority, Variable Rate Demand Revenue Bonds, University of Massachusetts Issue, Series 2000A, 1.150%, 11/01/30 (Mandatory put 4/01/19)		No Opt. Call		Aa2	$	4,103,526
	20,105	Massachusetts State, General Obligation Bonds, Consolidated Loan Series 2014D-1, 1.050%, 8/01/43 (Mandatory put 7/01/20)		No Opt. Call		Aa1		19,944,964
	12,900	Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2002C, 5.500%, 11/01/17 – AGM Insured		No Opt. Call		Aa1		12,954,567
	3,200	Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2015C, 5.000%, 7/01/19		No Opt. Call		Aa1		3,422,144
	14,000	Massachusetts State, General Obligation Bonds, Refunding Series 2015A, 5.000%, 7/01/23		No Opt. Call		Aa1		16,645,440
	2,420	Norwood, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2009A, 4.000%, 8/15/18		No Opt. Call		AA+		2,484,130
	71,070	Total Massachusetts						74,945,426
		Michigan – 1.7%
	1,500	Detroit-Wayne County Stadium Authority, Michigan, Wayne County Limited Tax General Obligation Bonds, Building Authority Stadium Refunding Series 2012, 5.000%, 10/01/19 – AGM Insured		No Opt. Call		AA		1,595,040
	1,780	Lake Orion Community School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2012, 4.000%, 5/01/18		No Opt. Call		AA–		1,810,705
		Marquette, Michigan, Electric Utility System Revenue Bonds, Refunding Series 2016A:
	1,100	5.000%, 7/01/20		No Opt. Call		A		1,204,775
	1,100	5.000%, 7/01/21		No Opt. Call		A		1,237,907
	4,575	Michigan Finance Authority, Revenue Bonds, Ascension Senior Credit Group, Refunding Series 2016E-1, 1.100%, 11/15/46 (Mandatory put 8/15/19)		No Opt. Call		AA+		4,564,203
	8,790	Michigan Finance Authority, Unemployment Obligation Assessment Revenue Bonds, Series 2012B, 5.000%, 7/01/21		7/18 at 100.00		AAA		9,061,963
	3,195	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/17		No Opt. Call		AA+		3,211,934
	18,555	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Senior Credit Group, Refunding Series 2010F-1, 2.000%, 11/15/47 (Mandatory put 5/30/18)		No Opt. Call		AA+		18,659,650
	185	Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2009B-2, 4.375%, 10/01/19		10/18 at 100.00		AA		186,563
	6,030	Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/20		11/19 at 100.00		AA+		6,513,365
	1,605	Michigan State, General Obligation Bonds, Environmental Program, Series 2009A, 5.500%, 11/01/21 (Pre-refunded 5/01/19)		5/19 at 100.00		Aa1 (4)		1,719,003
	8,000	Michigan Strategic Fund, Limited Obligation Pollution Control Revenue Refunding Bonds, Detroit Edison Company, Series 1995CC, 1.450%, 9/01/30 (Mandatory put 9/01/21)		No Opt. Call		Aa3		7,898,240
	8,000	Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Edison Project, Refunding Series 2008ET-2, 1.450%, 8/01/29 (Mandatory put 9/01/21)		No Opt. Call		Aa3		7,898,240
		Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, General Obligation Bonds, Refunding Series 2012A:
	1,100	4.000%, 5/01/19		No Opt. Call		Aa1		1,148,323
	1,000	5.000%, 5/01/21		No Opt. Call		Aa1		1,125,700

162 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
		Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, General Obligation Bonds, School Building & Site Series 2013A:
$	765	5.000%, 5/01/19		No Opt. Call		Aa3	$	810,609
	1,000	5.000%, 5/01/20		No Opt. Call		Aa3		1,093,350
	2,500	Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital Obligated Group, Refunding Series 2014D, 5.000%, 9/01/22		No Opt. Call		A1		2,882,400
	4,975	Walled Lake Consolidated School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2011, 5.000%, 5/01/19		No Opt. Call		Aa1		5,271,609
	75,755	Total Michigan						77,893,579
		Minnesota – 0.4%
		Cass Lake Independent School District 115, Minnesota, General Obligation Bonds, School Building Refunding Series 2010A:
	745	4.000%, 2/01/23		2/20 at 100.00		AA+		793,000
	1,615	5.000%, 2/01/25		2/20 at 100.00		AA+		1,751,887
	1,690	5.000%, 2/01/26		2/20 at 100.00		AA+		1,832,399
	1,680	Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2014A, 5.000%, 1/01/24		No Opt. Call		A+		1,998,847
	4,000	Minnesota State, General Obligation Bonds, State Trunk Highway Series 2009E, 4.500%, 8/01/18		No Opt. Call		AAA		4,118,080
	895	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2013A, 5.000%, 1/01/23		No Opt. Call		A–		1,039,444
	5,000	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2017, 5.000%, 1/01/21 (WI/DD, Settling 10/03/17)		No Opt. Call		A–		5,579,000
	2,870	Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Refunding Series 2014B, 5.000%, 5/01/22		No Opt. Call		A1		3,307,445
	18,495	Total Minnesota						20,420,102
		Mississippi – 0.5%
	20,860	Mississippi Business Finance Corporation, Revenue Bonds, Mississippi Power Company Project, First Series 2010, 1.625%, 12/01/40 (Mandatory put 1/12/18)		No Opt. Call		BBB+		20,884,198
	3,680	Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2015A, 5.000%, 9/01/24		No Opt. Call		BBB+		4,278,258
	24,540	Total Mississippi						25,162,456
		Missouri – 1.4%
		Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson Shoppes Redevelopment Project, Refunding Series 2017A:
	745	3.000%, 11/01/20		No Opt. Call		N/R		753,337
	765	4.000%, 11/01/22		No Opt. Call		N/R		798,262
	755	4.000%, 11/01/23		No Opt. Call		N/R		783,078
		Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2017A:
	300	5.000%, 3/01/19		No Opt. Call		BBB–		314,109
	325	5.000%, 3/01/20		No Opt. Call		BBB–		348,605

NUVEEN 163

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri (continued)
		Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2011B:
$	2,520	4.000%, 5/01/23		5/21 at 100.00		AAA	$	2,761,870
	2,695	4.000%, 5/01/24		5/21 at 100.00		AAA		2,941,727
		Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013:
	550	5.000%, 5/01/19		No Opt. Call		BBB+		579,304
	440	5.000%, 5/01/20		No Opt. Call		BBB+		476,269
	1,000	5.000%, 5/01/21		No Opt. Call		BBB+		1,108,390
	2,545	4.000%, 5/01/22		No Opt. Call		BBB+		2,763,234
	1,320	5.000%, 5/01/23		No Opt. Call		BBB+		1,516,627
		Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2014A:
	2,420	5.000%, 1/01/25		No Opt. Call		A		2,882,752
	5,000	5.000%, 1/01/26		1/25 at 100.00		A		5,871,650
	765	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2013, 5.000%, 7/01/18		No Opt. Call		A–		786,963
		Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2015:
	1,700	5.000%, 7/01/20		No Opt. Call		A–		1,861,925
	1,725	5.000%, 7/01/21		No Opt. Call		A–		1,937,899
	1,000	5.000%, 7/01/22		No Opt. Call		A–		1,144,230
	1,085	5.000%, 7/01/23		No Opt. Call		A–		1,261,757
	12,055	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/18 – NPFG Insured		No Opt. Call		A		12,450,886
	20,000	Saint Louis, Missouri, General Fund Revenue Bonds, Tax & Revenue Anticipation Notes Series 2017, 3.000%, 6/01/18		No Opt. Call		SP-1+		20,282,800
	59,710	Total Missouri						63,625,674
		Montana – 0.6%
	26,700	Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2016, 2.000%, 8/01/23		No Opt. Call		A2		26,460,501
		Montana Facility Finance Authority, Hospital Revenue Bonds, Benefis Health System Obligated Group, Refunding Series 2016:
	365	5.000%, 2/15/19		No Opt. Call		A–		383,235
	1,295	5.000%, 2/15/21		No Opt. Call		A–		1,443,161
	28,360	Total Montana						28,286,897
		Nebraska – 1.1%
	4,550	Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014, 5.000%, 5/15/21		No Opt. Call		BBB+		5,076,526
		Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015:
	925	4.000%, 11/01/18		No Opt. Call		A–		952,010
	1,000	5.000%, 11/01/22		No Opt. Call		A–		1,146,180
		Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012:
	600	4.000%, 6/15/18		No Opt. Call		AA–		612,606
	830	5.000%, 6/15/19		No Opt. Call		AA–		884,456

164 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nebraska (continued)
		Lancaster County School District 1, Lincoln, Nebraska, General Obligation Bonds, Refunding Series 2009:
$	3,220	3.000%, 1/15/18		No Opt. Call		AAA	$	3,239,964
	2,520	3.000%, 1/15/19		No Opt. Call		AAA		2,585,873
	1,000	Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 3.500%, 11/01/27		11/21 at 100.00		A–		1,023,600
	1,720	Nebraska Public Power District, General Revenue Bonds, Series 2015A-2, 5.000%, 1/01/24		1/22 at 100.00		A+		1,967,250
	1,645	Papio-Missouri River Natural Resources District, Nebraska, Flood Protection and Water Quality Enhancement Revenue Bonds, Series 2017, 5.000%, 12/15/22		6/22 at 100.00		AA–		1,902,410
		Public Power Generation Agency, Nebraska, Whelan Energy Center Unit 2 Revenue Bonds, Refunding Series 2015A:
	6,340	5.000%, 1/01/18		No Opt. Call		A2		6,402,639
	2,125	5.000%, 1/01/19		No Opt. Call		A2		2,224,471
	2,500	5.000%, 1/01/20		No Opt. Call		A2		2,703,750
	3,130	University of Nebraska Facilities Corporation, UNMC Cancer Center Bonds, Series 2014A, 5.000%, 2/15/21		No Opt. Call		Aa1		3,520,311
	17,560	Washington County, Nebraska, Wastewater and Solid Waste Disposal Facilities Revenue Bonds, Cargill Inc. Project, Variable Rate Demand Series 2012, 2.375%, 9/01/30 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		A		17,986,884
	49,665	Total Nebraska						52,228,930
		Nevada – 0.5%
		Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A:
	1,000	5.000%, 7/01/20 (Alternative Minimum Tax)		No Opt. Call		A+		1,099,240
	2,000	5.000%, 7/01/21 (Alternative Minimum Tax)		No Opt. Call		A+		2,261,700
	3,750	Clark County, Nevada, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding Series 2017, 1.600%, 1/01/36 (Mandatory put 5/21/20)		No Opt. Call		A+		3,764,625
	1,825	Humboldt County, Nevada, Pollution Control Revenue Bonds, Sierra Pacific Power Company Projects, Refunding Series 2016A, 1.250%, 10/01/29 (Mandatory put 6/03/19)		No Opt. Call		A+		1,825,694
	5,000	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/24		6/21 at 100.00		Aa1		5,647,450
	155	Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, Refunding Series 2013, 4.000%, 6/01/18		No Opt. Call		N/R		156,127
	10,000	Washoe County, Nevada, Gas Facilities Revenue Bonds, Sierra Pacific Power Company Projects, Refunding Series 2016A, 1.500%, 8/01/31 (Mandatory put 6/03/19) (Alternative Minimum Tax)		No Opt. Call		A+		9,953,000
	23,730	Total Nevada						24,707,836
		New Hampshire – 0.2%
		New Hampshire Health and Education Facilities Authority, Revenue Bonds, Elliot Hospital, Series 2016:
	450	5.000%, 10/01/18		No Opt. Call		Baa1		465,291
	600	5.000%, 10/01/19		No Opt. Call		Baa1		638,568
	1,265	5.000%, 10/01/20		No Opt. Call		Baa1		1,381,355
	1,185	5.000%, 10/01/21		No Opt. Call		Baa1		1,320,931
	3,500	Total New Hampshire						3,806,145

NUVEEN 165

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey – 5.3%
$	3,890	Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 5.250%, 6/01/20 – NPFG Insured		12/17 at 100.00		A	$	3,959,047
	1,950	Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (Alternative Minimum Tax)		No Opt. Call		BBB–		2,134,275
		Millville, New Jersey, General Obligation Bonds, Improvement Series 2011:
	1,445	5.000%, 11/01/19 – AGM Insured		No Opt. Call		AA		1,556,670
	920	5.000%, 11/01/20 – AGM Insured		No Opt. Call		AA		1,022,028
		New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:
	8,510	5.000%, 6/15/18		No Opt. Call		BBB+		8,700,369
	5,000	5.000%, 6/15/19		No Opt. Call		BBB+		5,260,700
	245	4.000%, 6/15/19		No Opt. Call		BBB+		253,671
	10,990	5.000%, 6/15/20		No Opt. Call		BBB+		11,840,516
	2,825	5.000%, 6/15/21		No Opt. Call		BBB+		3,106,850
	1,425	5.000%, 6/15/22		No Opt. Call		BBB+		1,591,027
	520	5.000%, 6/15/22		No Opt. Call		AA		586,160
	6,565	5.000%, 6/15/23		6/22 at 100.00		BBB+		7,271,460
	4,520	5.000%, 6/15/24		6/22 at 100.00		BBB+		4,980,272
	8,570	5.000%, 6/15/25		6/22 at 100.00		BBB+		9,383,122
	6,000	5.000%, 6/15/26		6/22 at 100.00		BBB+		6,529,800
	775	4.250%, 6/15/27		6/22 at 100.00		BBB+		803,047
	3,195	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 3.375%, 7/01/30		7/27 at 100.00		BBB+		3,115,476
	25,320	New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2015XX, 5.000%, 6/15/21		No Opt. Call		A–		27,791,738
	17,000	New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2016BBB, 5.000%, 6/15/22		No Opt. Call		A–		18,858,440
		New Jersey Economic Development Authority, Sublease Revenue Bonds, New Jersey Transit Corporation Projects, Refunding Series 2017B:
	5,000	5.000%, 11/01/20		No Opt. Call		A–		5,439,150
	5,000	5.000%, 11/01/21		No Opt. Call		A–		5,523,100
	2,010	New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University Issue, Series 2007A, 5.250%, 7/01/21 – NPFG Insured		No Opt. Call		AA		2,132,087
	350	New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 7.500%, 12/01/32 (Pre-refunded 6/01/19)		6/19 at 100.00		N/R (4)		387,636
		New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011:
	4,060	5.000%, 7/01/18		No Opt. Call		BB+		4,140,104
	4,260	5.000%, 7/01/19		No Opt. Call		BB+		4,447,227
		New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hackensack University Medical Center, Refunding Series 2010B:
	1,880	5.000%, 1/01/20 (ETM)		No Opt. Call		N/R (4)		2,047,282
	1,155	5.000%, 1/01/20 (ETM)		No Opt. Call		A+ (4)		1,257,772
	410	New Jersey Highway Authority, Senior Revenue Bonds, Garden State Parkway, Series 1989, 6.000%, 1/01/19 – NPFG Insured (ETM)		No Opt. Call		Aaa		425,510
	10,000	New Jersey Transit Corporation, Grant Anticipation Notes, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Series 2014A, 5.000%, 9/15/18		No Opt. Call		A		10,322,400

166 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
		New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-2:
$	25,000	5.000%, 6/15/21		6/18 at 100.00		A+	$	25,660,750
	7,500	5.000%, 6/15/24		6/18 at 100.00		A+		7,675,650
		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D:
	5,090	5.000%, 12/15/17		No Opt. Call		A–		5,130,975
	9,750	5.000%, 12/15/18		No Opt. Call		A–		10,146,922
	6,135	New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/19		No Opt. Call		A+		6,436,351
	1,125	Parsippany-Troy Hills Township, New Jersey, General Obligation Bonds, Refunding Series 2012, 4.000%, 7/15/20		No Opt. Call		AA		1,212,784
	1,700	Passaic Valley Sewer Commissioners, New Jersey, Sewer Revenue Bonds, Series 2010G, 5.750%, 12/01/22		No Opt. Call		A3		2,019,991
	4,215	Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (Alternative Minimum Tax)		No Opt. Call		BBB–		4,571,167
		South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Refunding Series 2012Q:
	3,080	3.000%, 1/01/18		No Opt. Call		Baa1		3,091,981
	4,850	3.000%, 1/01/19		No Opt. Call		Baa1		4,916,397
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:
	6,710	5.000%, 6/01/18		12/17 at 100.00		Aa1		6,793,607
	4,150	4.500%, 6/01/23		12/17 at 100.00		BBB+		4,153,942
	10,475	4.625%, 6/01/26		12/17 at 100.00		BBB		10,484,951
	233,570	Total New Jersey						247,162,404
		New Mexico – 2.3%
	11,060	Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan and Four Corners Projects, Refunding Series 2016A, 1.875%, 4/01/33 (Mandatory put 10/01/21)		No Opt. Call		BBB+		11,015,428
	26,000	Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan and Four Corners Projects, Refunding Series 2016B, 1.875%, 4/01/33 (Mandatory put 10/01/21)		No Opt. Call		BBB+		25,895,220
	3,500	Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan Project, Refunding Series 2010B, 2.125%, 6/01/40 (Mandatory put 6/01/22)		No Opt. Call		BBB+		3,521,245
	7,285	Farmington, New Mexico, Pollution Control Revenue Bonds, Southern California Edison Company – Four Corners Project, Refunding Series 2005A, 1.875%, 4/01/29 (Mandatory put 4/01/20)		No Opt. Call		Aa3		7,369,870
	10,100	Farmington, New Mexico, Pollution Control Revenue Bonds, Southern California Edison Company – Four Corners Project, Refunding Series 2005B, 1.875%, 4/01/29 (Mandatory put 4/01/20)		No Opt. Call		Aa3		10,230,189
	15,355	New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19)		8/19 at 100.00		A1		16,331,578

NUVEEN 167

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Mexico (continued)
		San Juan County, New Mexico, Gross Receipts Tax Revenue Bonds, Refunding Series 2015A:
$	845	4.000%, 6/15/18		No Opt. Call		A+	$	862,753
	1,340	5.000%, 6/15/19		No Opt. Call		A+		1,424,715
	1,305	5.000%, 6/15/20		No Opt. Call		A+		1,429,719
	1,455	5.000%, 6/15/21		No Opt. Call		A+		1,638,475
	1,510	5.000%, 6/15/22		No Opt. Call		A+		1,734,386
	1,565	5.000%, 6/15/23		No Opt. Call		A+		1,831,488
	1,625	5.000%, 6/15/24		No Opt. Call		A+		1,928,160
	1,690	5.000%, 6/15/25		No Opt. Call		A+		2,028,727
	1,760	5.000%, 6/15/26		6/25 at 100.00		A+		2,109,114
	14,955	State of New Mexico, State Severance Tax Revenue Bonds, Series 2014A, 5.000%, 7/01/23 (Pre-refunded 7/01/19)		7/19 at 100.00		Aa2 (4)		15,995,868
	101,350	Total New Mexico						105,346,935
		New York – 4.0%
	500	Buffalo and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds, Refunding Series 2014, 5.000%, 1/01/22		No Opt. Call		A+		574,100
		Dormitory Authority of the State of New York, Mental Health Services Facilities Improvement Revenue Bonds, Series 2010A:
	1,620	5.000%, 8/15/19		No Opt. Call		AA		1,739,054
	5	5.000%, 8/15/19 (ETM)		No Opt. Call		N/R (4)		5,376
	1,275	Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer Center, Series 2012-1, 5.000%, 7/01/23		1/22 at 100.00		AA		1,472,548
	355	Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2014, 5.000%, 7/01/23		No Opt. Call		A–		416,419
		Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017:
	1,500	4.000%, 12/01/19		No Opt. Call		Baa3		1,562,610
	1,000	4.000%, 12/01/20		No Opt. Call		Baa3		1,055,410
	1,200	4.000%, 12/01/21		No Opt. Call		Baa3		1,278,828
	1,000	5.000%, 12/01/22		No Opt. Call		Baa3		1,120,120
	2,000	5.000%, 12/01/23		No Opt. Call		Baa3		2,263,480
	12,280	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A, 5.000%, 12/15/21		No Opt. Call		AAA		14,122,860
	5	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A, 5.000%, 12/15/21 (ETM)		No Opt. Call		N/R (4)		5,787
	3,335	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014A, 5.000%, 2/15/21		No Opt. Call		AAA		3,750,574
	16,000	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2016D, 5.000%, 2/15/20		No Opt. Call		AAA		17,463,360
		Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A:
	400	0.000%, 6/01/19 – AGM Insured		No Opt. Call		AA		390,668
	515	0.000%, 6/01/21 – AGM Insured		No Opt. Call		AA		485,166
	640	0.000%, 6/01/22 – AGM Insured		No Opt. Call		AA		588,154
	1,315	0.000%, 6/01/23 – AGM Insured		No Opt. Call		AA		1,175,965

168 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A:
$	610	5.000%, 4/01/18 (ETM)		No Opt. Call		A– (4)	$	622,633
	3,805	5.000%, 4/01/19 (ETM)		No Opt. Call		A– (4)		4,034,213
	1,250	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.500%, 4/01/22		4/19 at 100.00		A–		1,325,462
	1,000	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012B, 5.000%, 9/01/21		No Opt. Call		A–		1,138,410
	5,135	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012H, 5.000%, 11/15/20		No Opt. Call		AA–		5,742,265
		Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B:
	2,010	5.000%, 7/01/23		No Opt. Call		A–		2,342,213
	1,000	5.000%, 7/01/24		No Opt. Call		A–		1,183,130
	650	5.000%, 7/01/25		7/24 at 100.00		A–		760,552
	1,000	5.000%, 7/01/26		7/24 at 100.00		A–		1,158,870
	1,500	5.000%, 7/01/27		7/24 at 100.00		A–		1,727,715
	16,875	New York City, New York, General Obligation Bonds, Fiscal 2014 Series J, 5.000%, 8/01/19		No Opt. Call		AA		18,090,337
	13,980	New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New York State Electric and Gas Corporation, Series 2005A, 2.375%, 7/01/26 (Mandatory put 5/01/20) (Alternative Minimum Tax)		No Opt. Call		A		14,237,512
	28,580	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A–		30,311,948
	6,960	New York State Thruway Authority, Local Highway and Bridge Service Contract Bonds, Series 2009, 5.000%, 4/01/18		No Opt. Call		AA		7,103,794
	8,150	New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2009C, 5.000%, 12/15/18		No Opt. Call		AAA		8,549,757
		Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014:
	500	5.000%, 7/01/25		7/24 at 100.00		A–		585,040
	500	5.000%, 7/01/27		7/24 at 100.00		A–		575,905
	16,130	Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2012B, 4.000%, 11/15/20		No Opt. Call		AA–		17,600,733
		TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A:
	1,285	5.000%, 6/01/20		No Opt. Call		A		1,398,812
	3,000	5.000%, 6/01/21		No Opt. Call		A		3,351,270
	2,500	5.000%, 6/01/22		No Opt. Call		A		2,850,875
	3,335	5.000%, 6/01/23		No Opt. Call		A		3,855,327
	1,900	5.000%, 6/01/26		No Opt. Call		A		2,261,513
		Yonkers, New York, General Obligation Bonds, Refunding Series 2012C:
	2,440	3.000%, 8/15/22		No Opt. Call		A		2,592,476
	2,510	3.000%, 8/15/23		No Opt. Call		A		2,640,721
	171,550	Total New York						185,511,962
		North Carolina – 0.6%
	2,125	Fayetteville Public Works Commission, North Carolina, Revenue Bonds, Refunding Series 2009A, 5.000%, 3/01/18		No Opt. Call		AA		2,161,975

NUVEEN 169

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Carolina (continued)
$	3,050	Mecklenburg County Public Facilities Corporation, North Carolina, Limited Obligation Bonds, Refunding Series 2009, 5.000%, 3/01/18		No Opt. Call		AA+	$	3,102,155
		North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A:
	2,065	5.000%, 1/01/25		No Opt. Call		A		2,489,130
	3,005	5.000%, 1/01/26		No Opt. Call		A		3,654,651
	2,800	5.000%, 1/01/27		1/26 at 100.00		A		3,381,784
	615	North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015B, 5.000%, 1/01/23		No Opt. Call		A		719,980
		North Carolina State, Capital Improvement Limited Obligation Bonds, Series 2009A:
	1,080	5.000%, 5/01/19		No Opt. Call		AA+		1,147,748
	5,205	5.000%, 5/01/20		5/19 at 100.00		AA+		5,530,365
	3,605	North Carolina State, Capital Improvement Limited Obligation Bonds, Series 2009A, 5.000%, 5/01/21 (Pre-refunded 5/01/19)		5/19 at 100.00		AA+ (4)		3,831,718
	235	Wilmington, North Carolina, Limited Obligation Bonds, Refunding Series 2014A, 5.000%, 6/01/20		No Opt. Call		AA+		259,001
	23,785	Total North Carolina						26,278,507
		North Dakota – 0.8%
	1,115	Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Series 2014A, 5.000%, 7/01/21 (ETM)		No Opt. Call		N/R (4)		1,266,149
	100	Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Series 2014A, 5.000%, 7/01/22 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		113,556
	2,470	Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System, Series 2007, 5.500%, 12/01/17 (ETM)		No Opt. Call		A– (4)		2,490,056
		Williston, North Dakota, County-Wide Public Safety Sales Tax Revenue Bonds, Series 2015A:
	1,795	4.000%, 7/15/18		No Opt. Call		A		1,832,803
	1,000	4.000%, 7/15/19		No Opt. Call		A		1,045,410
	2,105	4.000%, 7/15/20		No Opt. Call		A		2,241,657
	2,185	4.000%, 7/15/21		No Opt. Call		A		2,365,896
	2,275	4.000%, 7/15/22		No Opt. Call		A		2,486,962
	2,365	5.000%, 7/15/23		7/22 at 100.00		A		2,677,464
	2,485	5.000%, 7/15/24		7/22 at 100.00		A		2,794,532
	5,485	5.000%, 7/15/25		7/22 at 100.00		A		6,117,420
		Williston, North Dakota, General Obligation Bonds, Refunding Improvement Series 2014:
	800	4.000%, 5/01/18		No Opt. Call		A		811,328
	725	4.000%, 5/01/19		No Opt. Call		A		749,868
	800	4.000%, 5/01/20		No Opt. Call		A		836,992
	800	4.000%, 5/01/21		No Opt. Call		A		850,752
	6,035	Williston, North Dakota, Sales Tax Revenue Bonds, Series 2013A, 4.000%, 5/01/20 – AGM Insured		12/17 at 100.00		AA		6,049,484
	32,540	Total North Dakota						34,730,329

170 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio – 4.7%
		Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children’s Hospital Medical Center, Improvement & Refunding Series 2012:
$	2,000	5.000%, 11/15/21		No Opt. Call		AA–	$	2,273,760
	2,655	5.000%, 11/15/22		5/22 at 100.00		AA–		3,039,178
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
	10,190	5.375%, 6/01/24		12/17 at 100.00		B–		9,934,740
	72,375	5.125%, 6/01/24		12/17 at 100.00		B–		68,795,332
	5,875	5.875%, 6/01/30		12/17 at 100.00		B–		5,714,025
	6,270	5.750%, 6/01/34		12/17 at 100.00		B–		6,069,736
		Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena Health System Obligated Group Project, Refunding & Improvement Series 2017:
	1,000	5.000%, 12/01/21		No Opt. Call		A–		1,132,410
	1,000	5.000%, 12/01/22		No Opt. Call		A–		1,151,020
	1,225	5.000%, 12/01/24		No Opt. Call		A–		1,441,752
	1,000	5.000%, 12/01/25		No Opt. Call		A–		1,183,840
		Cleveland, Ohio, Airport System Revenue Bonds, Refunding Series 2016A:
	350	5.000%, 1/01/18 – AGM Insured		No Opt. Call		AA		353,595
	550	5.000%, 1/01/19 – AGM Insured		No Opt. Call		AA		577,088
	725	5.000%, 1/01/20 – AGM Insured		No Opt. Call		AA		786,959
	950	5.000%, 1/01/21 – AGM Insured		No Opt. Call		AA		1,062,965
	3,220	Cleveland, Ohio, Airport System Revenue Bonds, Series 2009C, 5.000%, 1/01/18 – AGM Insured		No Opt. Call		AA		3,253,069
		Cleveland, Ohio, General Obligation Bonds, Series 2011:
	1,470	5.000%, 12/01/19		No Opt. Call		AA+		1,590,378
	1,540	5.000%, 12/01/20		12/19 at 100.00		AA+		1,660,182
	1,620	Cleveland, Ohio, General Obligation Bonds, Series 2011, 5.000%, 12/01/21 (Pre-refunded 12/01/19)		12/19 at 100.00		AA+ (4)		1,757,344
		Cuyahoga County, Ohio, Certificates of Participation, Convention Hotel Project, Series 2014:
	4,650	5.000%, 12/01/17		No Opt. Call		AA–		4,682,969
	5,515	5.000%, 12/01/20		No Opt. Call		AA–		6,146,412
		Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013:
	1,015	5.000%, 6/15/19		No Opt. Call		Baa2		1,064,410
	1,000	5.000%, 6/15/21		No Opt. Call		Baa2		1,092,290
	1,000	Franklin County Convention Facilities Authority, Ohio, Excise Tax and Lease Revenue Bonds, Columbus City & Franklin County Lessees, Refunding Anticipation Series 2014, 5.000%, 12/01/23		No Opt. Call		Aa1		1,184,130
		Hamilton County, Ohio, Hospital Facilities Revenue Bonds, Cincinnati Children’s Hospital Medical Center, Refunding Series 2014S:
	1,170	5.000%, 5/15/21		No Opt. Call		AA		1,325,259
	340	5.000%, 5/15/22		No Opt. Call		AA		393,309
	1,040	5.000%, 5/15/23		No Opt. Call		AA		1,224,850
	1,600	Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2014, 5.000%, 2/01/20		No Opt. Call		A		1,729,024

NUVEEN 171

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
		JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 2013A:
$	2,590	5.000%, 1/01/20		No Opt. Call		AA	$	2,813,776
	1,700	5.000%, 1/01/23		No Opt. Call		AA		1,979,939
	2,175	Marysville, Union County, Ohio, General Obligation Bonds, Refunding Series 2007, 5.000%, 12/01/20 – AMBAC Insured		No Opt. Call		Aa3		2,344,476
	3,035	Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		10/18 at 100.00		BBB+		3,179,557
		Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013:
	1,630	5.000%, 2/15/18		No Opt. Call		BB+		1,646,414
	1,000	5.000%, 2/15/19		No Opt. Call		BB+		1,034,910
	270	5.000%, 2/15/20		No Opt. Call		BB+		285,568
	2,000	5.000%, 2/15/21		No Opt. Call		BB+		2,147,060
	1,100	New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C, 4.000%, 10/01/17		No Opt. Call		Aa3		1,100,176
	4,505	Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20		No Opt. Call		Caa1		2,061,037
	8,745	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 (Mandatory put 3/01/19)		No Opt. Call		Caa1		4,000,838
	3,235	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18		No Opt. Call		B1		3,214,619
	34,830	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18)		No Opt. Call		Caa1		15,934,725
	430	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 (Mandatory put 7/02/18)		No Opt. Call		Caa1		196,725
	2,525	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20)		No Opt. Call		Caa1		1,155,188
	4,000	Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19		No Opt. Call		BBB–		4,139,520
	1,220	Ohio Higher Education Facilities Commission, Revenue Bonds, John Carroll University, Series 2014, 2.250%, 9/01/33 (Mandatory put 9/01/18)		No Opt. Call		A3		1,229,650
	6,685	Ohio State, General Obligation Bonds, Infrastructure Improvement Series 2013B, 5.000%, 8/01/21		No Opt. Call		AA+		7,632,398
	6,450	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011A, 5.000%, 9/15/21		No Opt. Call		AA+		7,388,668
	12,625	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011C, 5.000%, 9/15/20		No Opt. Call		AA+		14,051,372
	515	Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic Health System Obligated Group, Refunding Series 2009B, 5.000%, 1/01/18		No Opt. Call		AA		520,289
	4,730	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21)		No Opt. Call		Caa1		2,163,975

172 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	960	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19		No Opt. Call		Caa1	$	439,200
	1,655	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory put 6/03/19)		No Opt. Call		Caa1		757,162
	865	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20)		No Opt. Call		Caa1		395,737
	7,085	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010A, 3.750%, 7/01/33 (Mandatory put 7/01/20)		No Opt. Call		Caa1		3,241,387
	2,230	University of Toledo, Ohio, General Receipts Bonds, Series 2009, 4.000%, 6/01/18		No Opt. Call		A1		2,274,377
	1,000	Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc., Series 2007A, 6.100%, 7/01/18 (Alternative Minimum Tax) (6)		No Opt. Call		N/R		10
	251,135	Total Ohio						217,948,779
		Oklahoma – 2.4%
		Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012:
	1,420	4.000%, 9/01/18		No Opt. Call		A+		1,458,468
	1,435	4.000%, 9/01/19		No Opt. Call		A+		1,509,333
	2,685	4.500%, 9/01/20		No Opt. Call		A+		2,922,730
		Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2017:
	1,015	3.000%, 9/01/19		No Opt. Call		A+		1,048,363
	3,770	4.000%, 9/01/24		No Opt. Call		A+		4,246,377
	6,440	Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2013, 5.000%, 6/01/18		No Opt. Call		A+		6,609,952
		Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2016:
	6,015	5.000%, 6/01/19		No Opt. Call		A+		6,398,216
	6,460	5.000%, 6/01/23		No Opt. Call		A+		7,558,458
		Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Noble Public Schools Project, Series 2017:
	1,315	4.000%, 9/01/20		No Opt. Call		A		1,410,061
	1,000	5.000%, 9/01/29		9/27 at 100.00		A		1,190,370
		Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Norman Public Schools Project, Series 2014:
	1,870	5.000%, 7/01/18		No Opt. Call		A+		1,925,277
	2,655	5.000%, 7/01/19		No Opt. Call		A+		2,832,089
	1,000	Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Elgin Public Schools Project, Series 2017A, 5.000%, 12/01/24		No Opt. Call		A		1,192,240
		Creek County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Sapulpa Public Schools Project, Series 2015:
	1,955	4.000%, 9/01/18		No Opt. Call		A+		2,007,961
	2,150	5.000%, 9/01/20		No Opt. Call		A+		2,371,041
	1,000	5.000%, 9/01/23		No Opt. Call		A+		1,175,290

NUVEEN 173

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
$	1,735	Garfield County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A, 5.000%, 9/01/26		No Opt. Call		A	$	2,104,121
		Kay County Public Buildings Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Ponca City Public Schools Project, Series 2016:
	7,860	5.000%, 9/01/18		No Opt. Call		A–		8,127,083
	2,500	5.000%, 9/01/20		No Opt. Call		A–		2,744,200
	4,395	5.000%, 9/01/21		No Opt. Call		A–		4,931,673
		Okarche Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Okarche Public Schools Project, Series 2016:
	1,035	5.000%, 9/01/21		No Opt. Call		A–		1,155,132
	1,000	5.000%, 9/01/27		9/26 at 100.00		A–		1,180,960
	1,000	5.000%, 9/01/28		9/26 at 100.00		A–		1,172,310
	2,920	Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Midwest City-Del City Public Schools Project, Series 2012, 4.000%, 3/01/18		No Opt. Call		A+		2,956,909
	1,970	Oklahoma Development Finance Authority, Solid Waste Disposal Revenue Bonds, Series 2004A, 2.375%, 12/01/21		No Opt. Call		A–		2,029,198
		Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2014:
	475	4.000%, 9/01/18		No Opt. Call		A–		486,495
	525	5.000%, 9/01/19		No Opt. Call		A–		559,750
	685	5.000%, 9/01/20		No Opt. Call		A–		749,986
	745	5.000%, 9/01/21		No Opt. Call		A–		834,370
		Rogers County Industrial Development Authority, Oklahoma, Capital Improvement Revenue Bonds, Refunding Series 2017:
	765	3.000%, 4/01/21		No Opt. Call		A–		799,639
	800	3.000%, 4/01/22		No Opt. Call		A–		839,256
	825	3.000%, 4/01/23		No Opt. Call		A–		867,380
	850	3.000%, 4/01/24		No Opt. Call		A–		890,749
	725	4.000%, 4/01/25		No Opt. Call		A–		801,502
	770	4.000%, 4/01/26		4/25 at 100.00		A–		842,265
	715	4.000%, 4/01/27		4/25 at 100.00		A–		777,019
		Stillwater Utilities Authority, Oklahoma, Utility System and Sales Tax Revenue Bonds, Series 2014A:
	225	4.000%, 10/01/18		No Opt. Call		AA–		231,737
	175	4.000%, 10/01/19		No Opt. Call		AA–		185,092
	570	5.000%, 10/01/20		No Opt. Call		AA–		633,931
	645	5.000%, 10/01/21		No Opt. Call		AA–		737,035
	7,575	Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2011, 5.000%, 9/01/19		No Opt. Call		AA–		8,110,780
	1,555	Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2012, 4.000%, 9/01/22		No Opt. Call		AA–		1,721,354
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016:
	1,035	5.000%, 9/01/22		No Opt. Call		AA–		1,194,369
	6,135	5.000%, 9/01/23		No Opt. Call		AA–		7,210,404

174 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Glenpool Public Schools Project, Series 2017A:
$	570	5.000%, 9/01/22		No Opt. Call		A+	$	657,769
	765	5.000%, 9/01/23		No Opt. Call		A+		899,097
	600	5.000%, 9/01/24		No Opt. Call		A+		714,378
	1,280	5.000%, 9/01/25		No Opt. Call		A+		1,540,941
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2015:
	2,100	5.000%, 9/01/21		No Opt. Call		AA–		2,377,746
	2,000	5.000%, 9/01/22		No Opt. Call		AA–		2,307,960
	1,650	Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Owasso Public Schools Project, Series 2016, 4.000%, 9/01/18		No Opt. Call		A+		1,694,699
	101,360	Total Oklahoma						110,923,515
		Oregon – 1.1%
		Clackamas and Washington Counties School District 3JT, Oregon, General Obligation Bonds, Refunding Series 2015:
	11,045	5.000%, 6/15/25		No Opt. Call		AA+		13,490,805
	5,000	5.000%, 6/15/26		6/25 at 100.00		AA+		6,073,050
		Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2017B:
	1,200	5.000%, 6/15/21		No Opt. Call		AA+		1,363,764
	2,355	5.000%, 6/15/25		No Opt. Call		AA+		2,882,167
	2,330	5.000%, 6/15/27		No Opt. Call		AA+		2,916,950
	2,000	5.000%, 6/15/28		6/27 at 100.00		AA+		2,486,820
	1,770	Gilliam County, Oregon, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2007, 1.500%, 10/01/18		No Opt. Call		A–		1,776,000
	1,050	Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2009A, 5.000%, 11/15/22 (Pre-refunded 5/15/19)		5/19 at 100.00		AAA		1,118,082
	20,000	Oregon State, General Obligation Bonds, Full Faith & Credit Tax Anticipation Notes, Series 2017A, 5.000%, 9/28/18 (WI/DD, Settling 10/03/17)		No Opt. Call		SP-1+		20,783,400
	46,750	Total Oregon						52,891,038
		Pennsylvania – 6.8%
	410	Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Jefferson Regional Medical Center, Series 2006B, 5.000%, 5/01/18		12/17 at 100.00		Baa3		410,763
	7,600	Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center System, Series 2008B, 5.000%, 6/15/18		No Opt. Call		AA–		7,816,676
		Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2011:
	6,550	5.000%, 12/01/17 – AGM Insured		No Opt. Call		AA		6,596,309
	4,400	5.000%, 12/01/18 – AGM Insured		No Opt. Call		AA		4,600,552
	5,965	Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014C-73, 5.000%, 12/01/19		No Opt. Call		AA–		6,442,737
		Allentown School District, Lehigh County, Pennsylvania, General Obligation Bonds, Refunding Series 2016:
	1,750	4.000%, 2/15/20 – AGM Insured		No Opt. Call		AA		1,857,940
	1,650	4.000%, 2/15/21 – AGM Insured		No Opt. Call		AA		1,788,336

NUVEEN 175

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	6,530	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory put 6/01/20)		No Opt. Call		Caa1	$	2,987,475
	4,865	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (Mandatory put 4/02/18)		No Opt. Call		Caa1		2,225,738
	2,055	Berks County, Pennsylvania, General Obligation Bonds, Refunding Series 2008, 5.000%, 11/15/21 (Pre-refunded 11/15/18)		11/18 at 100.00		Aa1 (4)		2,149,181
	1,000	Bucks County Water and Sewer Authority, Pennsylvania, Sewer System Revenue Bonds, Refunding Series 2016, 4.000%, 6/01/19 – BAM Insured		No Opt. Call		AA		1,046,910
	1,080	Centre County, Pennsylvania, General Obligation Bonds, Series 2012A, 3.000%, 7/01/19		No Opt. Call		AA		1,114,992
	40	Centre County, Pennsylvania, General Obligation Bonds, Series 2012A, 3.000%, 7/01/19 (ETM)		No Opt. Call		N/R (4)		41,332
	7,910	Coatesville Area School District, Chester County, Pennsylvania, General Obligation Bonds, Series 2014A, 4.000%, 8/15/19 – BAM Insured		No Opt. Call		AA		8,293,556
		Dallas Area Municipal Authority, Pennsylvania, Revenue Bonds, Misericordia University, Series 2014:
	450	4.000%, 5/01/18		No Opt. Call		Baa3		455,580
	450	5.000%, 5/01/19		No Opt. Call		Baa3		470,714
	500	Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2010, 5.000%, 12/01/18		No Opt. Call		A+		522,910
	3,435	Lancaster County, Pennsylvania, General Obligation Bonds, Series 2009A, 5.000%, 11/01/18 – AGM Insured		No Opt. Call		A1		3,578,033
	6,925	Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016A, 1.800%, 9/01/29 (Mandatory put 9/01/22)		No Opt. Call		A1		6,892,730
	9,025	Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016B, 1.800%, 2/15/27 (Mandatory put 8/15/22)		No Opt. Call		A1		8,956,861
	1,075	Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.500%, 12/15/19		No Opt. Call		N/R		1,103,810
	1,080	Lycoming County Authority, Pennsylvania, Revenue Bonds, Pennsylvania College of Technology, Series 2012, 4.000%, 5/01/19		No Opt. Call		A		1,125,587
	1,400	Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, Series 2016, 5.000%, 7/01/20		No Opt. Call		A+		1,529,374
	3,450	Montgomery County Higher Education and Health Authority, Pennsylvania, Hospital Revenue Bonds, Abington Memorial Hospital Obligated Group, Series 2012A, 5.000%, 6/01/23		6/22 at 100.00		A+		3,940,866
		Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A:
	1,665	5.000%, 1/15/18		No Opt. Call		Baa2		1,680,551
	1,310	5.000%, 1/15/19		No Opt. Call		Baa2		1,361,955
	1,235	5.000%, 1/15/20		No Opt. Call		Baa2		1,318,116
	5,000	Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Exelon Generation Company, LLC Project, Refunding Series 2001B, 2.500%, 10/01/30 (Mandatory put 4/01/20)		No Opt. Call		BBB		5,029,050

176 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	6,250	Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, PECO Energy Company Project, Refunding Series 1994A, 2.550%, 6/01/29 (Mandatory put 6/01/20)		No Opt. Call		BBB	$	6,247,813
	5,000	Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, PECO Energy Company Project, Refunding Series 1996A, 2.600%, 3/01/34 (Mandatory put 9/01/20)		No Opt. Call		BBB		5,043,000
	7,500	Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, PECO Energy Company Project, Refunding Series 1999A, 2.500%, 10/01/30 (Mandatory put 4/01/20)		No Opt. Call		BBB		7,490,925
	504	Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Series 2013A0 & AE2, 5.000%, 12/01/23, (Cash 5.000%, PIK 5.000%) (6)		12/17 at 100.00		N/R		151,028
	63	Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Taxable Series 2013B, 5.000%, 12/31/23, (Cash 5.000%, PIK 5.000%) (12)		12/17 at 100.00		N/R		18,879
	7,145	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor., Series 2005A, 3.750%, 12/01/40 (Mandatory put 7/01/20)		No Opt. Call		Caa1		3,268,838
	2,495	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor., Series 2006A, 2.550%, 11/01/41 (Mandatory put 12/03/18)		No Opt. Call		CCC+		1,141,463
	37,800	Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, 1.550%, 12/01/33 (Mandatory put 12/03/18)		No Opt. Call		A–		37,791,306
		Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B:
	335	5.000%, 1/01/20		7/19 at 100.00		Aaa		358,561
	365	5.000%, 7/01/20		7/19 at 100.00		Aaa		390,473
	5,750	5.000%, 7/01/21		1/18 at 100.00		Aaa		5,903,295
	12,380	5.000%, 1/01/22		12/17 at 100.00		Aaa		12,489,563
	1,900	Pennsylvania Economic Development Financing Authority, Water Facilities Revenue Bonds, Aqua Pennsylvania, Inc. Project, Series 2008A, 6.750%, 10/01/18 (Alternative Minimum Tax)		No Opt. Call		AA–		2,001,840
	1,600	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing Program-Mount Aloysius College Project, Series 2011R-1, 2.000%, 11/01/41		5/19 at 100.00		A–		1,600,064
	2,535	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges & Universities of Pennsylvania Financing Program, York College Project, Series 2014T-3, 1.350%, 5/01/34 (Mandatory put 5/01/18)		No Opt. Call		A–		2,536,470
	6,800	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges and Universities of Pennsylvania Financing Program-Messiah College Project, Series 2001-14, 1.500%, 11/01/31 (Mandatory put 5/01/18)		5/18 at 100.00		A		6,800,408
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2:
	2,390	5.000%, 6/01/21		No Opt. Call		A3		2,691,092
	15,000	5.000%, 6/01/22		No Opt. Call		A3		17,208,000
	23,660	5.000%, 6/01/23		No Opt. Call		A3		27,536,454
	12,485	5.000%, 6/01/24		No Opt. Call		A3		14,763,388
	8,095	5.000%, 6/01/24 – AGM Insured		No Opt. Call		AA		9,614,351
	5,580	5.000%, 6/01/25		No Opt. Call		A3		6,636,238

NUVEEN 177

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	17,500	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016, 5.000%, 6/01/20		No Opt. Call		A3	$	19,161,625
		Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Fourteenth Series 2016:
	6,400	5.000%, 10/01/19		No Opt. Call		A		6,892,416
	3,475	5.000%, 10/01/20		No Opt. Call		A		3,854,957
	4,000	5.000%, 10/01/21		No Opt. Call		A		4,555,640
	1,455	Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – NPFG Insured (ETM)		No Opt. Call		A (4)		1,587,856
	1,525	Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2011D, 5.000%, 9/01/18		No Opt. Call		A+		1,569,972
		Pittsburgh Public Parking Authority, Pennsylvania, Parking System Revenue Bonds, Refunding Series 2015A:
	1,120	4.000%, 12/01/18		No Opt. Call		A+		1,156,176
	2,300	5.000%, 12/01/19		No Opt. Call		A+		2,477,606
	3,305	5.000%, 12/01/20		No Opt. Call		A+		3,659,626
	1,675	5.000%, 12/01/21		No Opt. Call		A+		1,899,684
	1,500	5.000%, 12/01/22		No Opt. Call		A+		1,731,255
	2,285	Quakertown General Authority Health Facilities Revenue USDA Loan Anticipation Notes and Revenue Bonds for LifeQuest Obligated Group, Pennsylvania, Series 2017A, 3.125%, 7/01/21		7/19 at 100.00		N/R		2,286,097
	2,035	Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, Marywood University, Series 2016, 3.375%, 6/01/26		No Opt. Call		BB+		1,935,305
	2,505	University of Pittsburgh of the Commonwealth System of Higher Education, Pennsylvania, University Capital Project Bonds, Series 2009B, 5.500%, 9/15/21 (Pre-refunded 3/15/19)		3/19 at 100.00		AA+ (4)		2,669,378
	305,517	Total Pennsylvania						312,459,676
		Rhode Island – 0.2%
		Rhode Island Economic Development Corporation, Airport Revenue Bonds, Refunding Series 2013B:
	700	5.000%, 7/01/19		No Opt. Call		BBB+		738,647
	1,165	5.000%, 7/01/20		No Opt. Call		BBB+		1,260,169
	1,360	5.000%, 7/01/21		No Opt. Call		BBB+		1,504,269
	520	Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Bonds, University of Rhode Island Auxiliary Enterprise, Refunding Series 2013C, 4.000%, 9/15/18		No Opt. Call		A+		534,617
	3,745	Total Rhode Island						4,037,702
		South Carolina – 0.8%
		Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Building Equity Sooner Series 2012:
	3,375	5.000%, 12/01/21		No Opt. Call		AA		3,861,472
	4,910	5.000%, 12/01/22		No Opt. Call		AA		5,722,752
		Greenwood Fifty School Facilities, Inc., South Carolina, Installment Purchase Revenue Refunding Bonds, Greenwood School District 50 Project, Series 2016:
	1,000	4.000%, 12/01/18 – BAM Insured		No Opt. Call		AA		1,033,140
	1,745	5.000%, 12/01/19 – BAM Insured		No Opt. Call		AA		1,883,064

178 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Carolina (continued)
		Kershaw County Public Schools Foundation, South Carolina, Installment Purchase Revenue Bonds, Kershaw County School District, Refunding Series 2015:
$	925	5.000%, 12/01/18		No Opt. Call		A1	$	967,384
	1,050	5.000%, 12/01/19		No Opt. Call		A1		1,130,493
	600	5.000%, 12/01/20		No Opt. Call		A1		663,330
	960	McCormick County, South Carolina, Hospital Facilities Revenue Refunding and Improvement Bonds, McCormick Health Care Center Project, Series 2006, 8.000%, 3/01/21 (ETM)		No Opt. Call		N/R (4)		1,106,794
		South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, FMU Student Housing LLC – Francis Marion University Project, Series 2014A:
	1,020	5.000%, 8/01/22		No Opt. Call		Baa3		1,112,167
	1,035	5.000%, 8/01/24		No Opt. Call		Baa3		1,146,563
		South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2013A:
	1,450	5.250%, 8/01/24		8/23 at 100.00		BBB+		1,669,443
	2,850	5.250%, 8/01/25		8/23 at 100.00		BBB+		3,241,447
	3,500	5.250%, 8/01/26		8/23 at 100.00		BBB+		3,940,265
	2,000	5.000%, 8/01/27		8/23 at 100.00		BBB+		2,201,640
	1,100	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/21		No Opt. Call		A+		1,245,178
	1,240	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A, 5.000%, 12/01/22		No Opt. Call		A+		1,423,198
		Sumter Two School Facilities, Inc., South Carolina, Installment Purchase Revenue Refunding Bonds, Sumter County School District 2 Project, Series 2016:
	850	4.000%, 12/01/17 – BAM Insured		No Opt. Call		AA		854,344
	1,500	5.000%, 12/01/19 – BAM Insured		No Opt. Call		AA		1,611,090
	1,000	5.000%, 12/01/20 – BAM Insured		No Opt. Call		AA		1,102,390
	32,110	Total South Carolina						35,916,154
		South Dakota – 0.2%
		Deadwood, South Dakota, Certificates of Participation, Refunding Series 2012:
	1,580	3.000%, 11/01/17		No Opt. Call		A+		1,582,686
	770	3.000%, 11/01/18		No Opt. Call		A+		784,438
	415	South Dakota Building Authority, Revenue Bonds, Series 2013B, 5.000%, 6/01/20		No Opt. Call		AA+		456,670
		South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2014B:
	400	4.000%, 11/01/19		No Opt. Call		A+		423,288
	320	4.000%, 11/01/20		No Opt. Call		A+		345,802
	500	4.000%, 11/01/21		No Opt. Call		A+		548,410
	650	5.000%, 11/01/24		No Opt. Call		A+		778,414
		South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015:
	650	5.000%, 11/01/20		No Opt. Call		A+		722,014
	800	5.000%, 11/01/21		No Opt. Call		A+		912,104
	1,130	5.000%, 11/01/22		No Opt. Call		A+		1,312,416
	7,215	Total South Dakota						7,866,242

NUVEEN 179

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee – 0.6%
		First Utility District of Knox County, Tennessee, Water and Sewer Revenue Bonds, Series 2012A:
$	710	4.000%, 12/01/20		No Opt. Call		AA+	$	772,338
	740	4.000%, 12/01/21		No Opt. Call		AA+		818,647
		Harpeth Valley Utilities District, Davidson and Williamson Counties, Tennessee, Utilities Revenue Bonds, Refunding Series 2015:
	2,190	4.000%, 9/01/19		No Opt. Call		AA		2,305,282
	1,510	4.000%, 9/01/20		No Opt. Call		AA		1,625,304
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A:
	1,030	5.000%, 1/01/19		No Opt. Call		A		1,075,969
	2,500	5.000%, 1/01/20		No Opt. Call		A		2,695,025
	1,500	4.000%, 1/01/21		No Opt. Call		A		1,614,225
		Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012:
	1,335	3.000%, 11/01/17		No Opt. Call		A		1,337,109
	250	3.000%, 11/01/18		No Opt. Call		A		254,078
	1,070	4.000%, 11/01/19		No Opt. Call		A		1,122,986
	810	4.000%, 11/01/20		No Opt. Call		A		864,975
	500	4.000%, 11/01/21		No Opt. Call		A		541,790
	1,030	5.000%, 11/01/22		11/21 at 100.00		A		1,147,997
		Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage Revenue Bonds, Subordinate Lien Refunding Series 2012:
	2,615	5.000%, 7/01/21		No Opt. Call		A+		2,971,555
	1,870	5.000%, 7/01/22		No Opt. Call		A+		2,171,650
	2,500	Shelby County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Baptist Memorial Healthcare, Series 2004A, 5.000%, 9/01/18		No Opt. Call		BBB+		2,586,375
	265	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/18		No Opt. Call		A		275,086
		West Wilson Utility District, Wilson County, Tennessee, Water Revenue Bonds, Refunding & Improvement Series 2015:
	1,680	3.000%, 6/01/18		No Opt. Call		AA		1,701,991
	1,100	4.000%, 6/01/19		No Opt. Call		AA		1,152,976
	1,260	4.000%, 6/01/20		No Opt. Call		AA		1,352,660
	26,465	Total Tennessee						28,388,018
		Texas – 5.1%
	20,415	Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series 2012A, 5.000%, 8/15/23		No Opt. Call		AAA		24,325,902
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016:
	1,040	5.000%, 1/01/21		No Opt. Call		BBB+		1,155,565
	1,430	5.000%, 1/01/22		No Opt. Call		BBB+		1,626,053
	2,500	5.000%, 1/01/23		No Opt. Call		BBB+		2,895,300
	3,560	5.000%, 1/01/24		No Opt. Call		BBB+		4,194,107
		Corpus Christi Business and Job Development Corporation, Texas, Sales Tax Revenue Bonds, Arena Project, Refunding Series 2014:
	1,000	5.000%, 9/01/21		No Opt. Call		AA		1,131,850
	650	5.000%, 9/01/22		No Opt. Call		AA		749,755

180 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B:
$	2,595	5.000%, 11/01/20		No Opt. Call		A+	$	2,888,365
	5,000	5.000%, 11/01/21		11/20 at 100.00		A+		5,563,600
	3,020	Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2014A, 5.000%, 12/01/24		No Opt. Call		A+		3,631,761
	9,000	Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Refunding Series 2015A, 5.000%, 8/15/19		No Opt. Call		AA+		9,660,150
	6,105	Harris County, Texas, General Obligation Bonds, Refunding Road Series 2009A, 5.250%, 10/01/18		No Opt. Call		AAA		6,366,782
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C:
	700	5.000%, 11/15/19		No Opt. Call		A3		751,912
	575	5.000%, 11/15/20		No Opt. Call		A3		633,524
	480	5.000%, 11/15/21		No Opt. Call		A3		539,765
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A:
	11,635	5.000%, 11/15/22 – AGM Insured		No Opt. Call		AA		13,596,079
	8,630	5.000%, 11/15/23 – AGM Insured		No Opt. Call		AA		10,282,645
	5,205	5.000%, 11/15/24 – AGM Insured		No Opt. Call		AA		6,276,293
	2,250	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011B, 5.000%, 7/01/20		No Opt. Call		A+		2,468,160
	2,915	Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2014C, 5.000%, 5/15/20		No Opt. Call		AA		3,202,069
	11,565	Houston, Texas, General Obligation Bonds, Public Improvement Refunding Series 2009A, 5.000%, 3/01/20		3/19 at 100.00		AA		12,217,150
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015:
	500	5.000%, 11/01/18 (Alternative Minimum Tax)		No Opt. Call		A1		520,600
	1,000	5.000%, 11/01/19 (Alternative Minimum Tax)		No Opt. Call		A1		1,075,700
	1,000	5.000%, 11/01/20 (Alternative Minimum Tax)		No Opt. Call		A1		1,107,900
	1,000	5.000%, 11/01/21 (Alternative Minimum Tax)		No Opt. Call		A1		1,132,750
	1,000	5.000%, 11/01/22 (Alternative Minimum Tax)		No Opt. Call		A1		1,150,790
	1,455	5.000%, 11/01/23 (Alternative Minimum Tax)		No Opt. Call		A1		1,698,873
	1,500	5.000%, 11/01/24 (Alternative Minimum Tax)		No Opt. Call		A1		1,771,890
	3,125	Lubbock Health Facilities Development Corporation, Texas, Revenue Bonds, St. Joseph Health System, Refunding Series 2008B, 5.000%, 7/01/18		No Opt. Call		AA–		3,216,625
		McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:
	845	3.000%, 12/01/18		No Opt. Call		B1		845,211
	1,510	4.000%, 12/01/21		No Opt. Call		B1		1,548,701
		North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children’s Medical Center Dallas Project, Series 2012:
	1,715	5.000%, 8/15/19		No Opt. Call		Aa2		1,837,537
	2,785	5.000%, 8/15/21		No Opt. Call		Aa2		3,169,191
	2,000	5.000%, 8/15/22		No Opt. Call		Aa2		2,326,300
	5,615	5.000%, 8/15/23		8/22 at 100.00		Aa2		6,520,980
	7,650	North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D, 5.000%, 9/01/24		9/21 at 100.00		AA+		8,702,487

NUVEEN 181

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2014A:
$	4,020	5.000%, 1/01/22		No Opt. Call		A1	$	4,612,186
	4,945	5.000%, 1/01/23		No Opt. Call		A1		5,780,952
	7,040	5.000%, 1/01/24		No Opt. Call		A1		8,376,122
	15,100	San Antonio, Texas, Electric and Gas System Revenue Bonds, Refunding Series 2012, 5.000%, 2/01/21		No Opt. Call		Aa1		16,974,816
	5,500	Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/20		No Opt. Call		A3		6,097,520
		Texas Southmost College District, Texas, General Obligation Bonds, Refunding Limited Tax Series 2014A:
	2,485	5.000%, 2/15/18		No Opt. Call		AA–		2,522,499
	2,560	5.000%, 2/15/19		No Opt. Call		AA–		2,692,506
	2,745	5.000%, 2/15/20		No Opt. Call		AA–		2,979,670
	10,000	Texas State, General Obligation Bonds, Tax & Revenue Anticipation Note Series 2017, 4.000%, 8/30/18		No Opt. Call		SP-1+		10,273,500
	2,695	Texas State, Public Financing Authority, General Obligation Bonds, Refunding Series 2009A, 5.000%, 10/01/17		No Opt. Call		AAA		2,695,647
	6,000	Texas Water Development Board, State Water Implementation Revenue Fund Bonds, Master Trust Series 2017A, 5.000%, 4/15/19 (WI/DD, Settling 10/12/17)		No Opt. Call		AAA		6,359,160
		Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, East Texas Medical Center Regional Healthcare System, Series 2007A:
	6,815	5.250%, 11/01/18		11/17 at 100.00		B+		6,815,341
	7,550	5.250%, 11/01/20		11/17 at 100.00		B+		7,550,378
	210,425	Total Texas						234,512,619
		Utah – 0.2%
	2,000	Salt Lake County, Utah, Research Facility Revenue Bonds, Huntsman Cancer Foundation, Series 2013A-1, 5.000%, 12/01/33 (Mandatory put 12/15/20) (Pre-refunded 12/17/18)		12/18 at 100.00		N/R (4)		2,046,820
		Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A:
	515	5.000%, 9/01/18		No Opt. Call		A		532,665
	1,250	5.000%, 9/01/19		No Opt. Call		A		1,336,100
	1,090	5.000%, 9/01/20		No Opt. Call		A		1,194,498
	2,065	5.000%, 9/01/21		No Opt. Call		A		2,313,832
	6,920	Total Utah						7,423,915
		Vermont – 0.0%
		Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Series 2016A:
	500	3.000%, 12/01/17		No Opt. Call		A–		501,730
	700	3.000%, 12/01/18		No Opt. Call		A–		714,203
	725	4.000%, 12/01/19		No Opt. Call		A–		765,578
	1,925	Total Vermont						1,981,511
		Virginia – 1.0%
	10,550	Halifax County Industrial Development Authority, Virginia, Recovery Zone Facility Revenue Bonds, Virginia Electric & Power Company Project, Series 2010A, 2.150%, 12/01/41 (Mandatory put 9/01/20)		No Opt. Call		A2		10,744,225

182 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia (continued)
$	1,000	Hanover County, Virginia, General Obligation Bonds, Refunding & Public Improvement Series 2009, 5.000%, 7/15/19		No Opt. Call		AAA	$	1,071,260
	6,480	Louisa Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Refunding Series 2008A, 1.750%, 11/01/35 (Mandatory put 5/16/19)		No Opt. Call		A2		6,523,222
	1,680	Peninsula Ports Authority of Virginia, Coal Terminal Revenue Bonds, Dominion Terminal Associates Project-DETC Issue, Refunding Series 2003, 1.550%, 10/01/33 (Mandatory put 10/01/19)		No Opt. Call		BBB+		1,677,194
		Virginia Small Business Financing Authority, Revenue Bonds, Hampton University, Refunding Series 2014:
	1,000	5.000%, 10/01/17		No Opt. Call		A		1,000,220
	1,000	5.000%, 10/01/18		No Opt. Call		A		1,036,940
	1,000	5.000%, 10/01/19		No Opt. Call		A		1,071,460
	10,150	Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2009A, 2.150%, 10/01/40 (Mandatory put 9/01/20)		No Opt. Call		A2		10,330,974
	11,990	Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2010A, 1.875%, 11/01/40 (Mandatory put 6/01/20)		No Opt. Call		A2		12,105,104
	2,790	York County Economic Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company Project, Refunding Series 2009A, 1.875%, 5/01/33 (Mandatory put 5/16/19)		No Opt. Call		A2		2,816,003
	47,640	Total Virginia						48,376,602
		Washington – 3.1%
	10,000	Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2015A, 5.000%, 7/01/23		No Opt. Call		Aa1		11,883,500
	5,000	Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2015C, 5.000%, 7/01/25		No Opt. Call		Aa1		6,127,000
		Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2017A:
	4,500	5.000%, 7/01/26		No Opt. Call		Aa1		5,575,275
	9,945	5.000%, 7/01/27		No Opt. Call		Aa1		12,427,272
		King County Public Hospital District 1, Washington, Limited Tax General Obligation Bonds, Refunding Series 2016:
	6,485	5.000%, 12/01/23		No Opt. Call		A		7,539,591
	7,285	5.000%, 12/01/24		No Opt. Call		A		8,574,008
		Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2015B:
	2,010	5.000%, 3/01/19		No Opt. Call		AA–		2,122,862
	1,005	5.000%, 3/01/20		No Opt. Call		AA–		1,098,254
		Spokane Public Facilities District, Washington, Hotel, Motel, and Sales Use Tax Revenue Bonds, Refunding Series 2013B:
	1,100	5.000%, 12/01/18		No Opt. Call		A+		1,149,742
	1,520	5.000%, 12/01/20		No Opt. Call		A+		1,692,520
	2,095	5.000%, 12/01/21		No Opt. Call		A+		2,391,631
	3,000	Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.375%, 1/01/31		1/21 at 100.00		A		3,251,310

NUVEEN 183

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
		Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2015:
$	1,500	5.000%, 1/01/21		No Opt. Call		A	$	1,666,170
	3,730	5.000%, 1/01/22		No Opt. Call		A		4,231,498
	1,950	5.000%, 1/01/24		No Opt. Call		A		2,289,807
	1,310	5.000%, 1/01/25		No Opt. Call		A		1,557,590
	1,065	Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A, 5.000%, 11/15/21		No Opt. Call		A+		1,213,067
	10,000	Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2012B, 4.000%, 10/01/42 (Mandatory put 10/01/21)		No Opt. Call		AA–		10,956,000
	10,825	Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, Refunding Series 2012B, 5.000%, 10/01/42 (Mandatory put 10/01/21)		No Opt. Call		AA–		12,278,906
	2,600	Washington State Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2005D, 1.250%, 11/01/17		No Opt. Call		A–		2,600,650
	6,000	Washington State Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2008, 2.125%, 6/01/20		6/19 at 100.00		A–		6,050,160
	3,495	Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Bayview Manor Senior Project, TEMPS 70 Series 2016B, 2.800%, 7/01/21		12/17 at 100.00		N/R		3,408,605
	20,135	Washington State, General Obligation Bonds, Refunding Various Purpose Series 2013R-13C, 5.000%, 7/01/21		No Opt. Call		AA+		22,920,275
	8,715	Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008B, 5.000%, 7/01/19 (Pre-refunded 7/01/18)		7/18 at 100.00		AA+ (4)		8,984,642
	125,270	Total Washington						141,990,335
		West Virginia – 0.6%
	6,210	Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 1.625%, 10/01/22 (Mandatory put 10/01/18)		No Opt. Call		A–		6,247,136
	4,345	West Virginia Economic Development Authority, Energy Revenue Bonds, Morgantown Energy Associates Project, Refunding Series 2016, 2.875%, 12/15/26 (Alternative Minimum Tax)		No Opt. Call		Baa3		4,257,144
	10,590	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Refunding Series 2015A, 1.900%, 3/01/40 (Mandatory put 4/01/19)		No Opt. Call		A–		10,620,605
	6,765	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 1.700%, 1/01/41 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		A–		6,724,072
	1,030	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A, 5.000%, 9/01/24		No Opt. Call		Baa1		1,193,894
	135	West Virginia State Building Commission, Lease Revenue Refunding Bonds, Regional Jail and Corrections Facility, Series 1998A, 5.375%, 7/01/18 – AMBAC Insured		No Opt. Call		N/R		138,324
	29,075	Total West Virginia						29,181,175
		Wisconsin – 1.6%
	2,100	Public Finance Authority of Wisconsin, Senior Living Facility Revenue Bonds, Mary’s Woods at Marylhurst Inc., TEMPS 50 Series 2017B-3, 3.000%, 11/15/22		11/18 at 100.00		N/R		2,125,137
	980	Public Finance Authority of Wisconsin, Senior Living Facility Revenue Bonds, Mary’s Woods at Marylhurst Inc., TEMPS 70 Series 2017B-2, 3.500%, 11/15/23		5/19 at 100.00		N/R		995,827

184 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
$	840	Public Finance Authority of Wisconsin, Senior Living Facility Revenue Bonds, Mary’s Woods at Marylhurst Inc., TEMPS 85 Series 2017B-1, 3.950%, 11/15/24		11/19 at 100.00		N/R	$	856,657
	5,165	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-3, 2.000%, 7/01/29 (Mandatory put 6/01/21) (Alternative Minimum Tax)		No Opt. Call		A–		5,204,874
	950	Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A, 5.000%, 12/01/19		No Opt. Call		AA–		1,027,055
	7,730	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2013B-5, 1.375%, 11/15/38 (Mandatory put 12/03/19)		No Opt. Call		AA+		7,728,222
	3,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2013B-1, 4.000%, 11/15/43 (Mandatory put 3/01/18)		No Opt. Call		AA+		3,038,100
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010B:
	5,000	5.000%, 7/15/18		No Opt. Call		A+		5,141,050
	5,680	5.000%, 7/15/19		No Opt. Call		A+		6,026,139
	2,845	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A, 5.000%, 7/15/27 – AGM Insured		7/21 at 100.00		A+		3,136,271
	1,525	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Hospital Sisters Services, Inc., Refunding Series 2012B, 5.000%, 8/15/18		No Opt. Call		AA–		1,577,109
	6,285	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Hospital Sisters Services, Inc., Refunding Series 2014A, 5.000%, 11/15/22		No Opt. Call		AA–		7,338,869
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Medical College of Wisconsin, Inc., Series 2010:
	1,555	5.000%, 12/01/17		No Opt. Call		AA–		1,565,279
	1,635	5.000%, 12/01/18		No Opt. Call		AA–		1,703,130
	1,710	5.000%, 12/01/19		No Opt. Call		AA–		1,837,583
	1,675	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2010A, 5.000%, 6/01/19		No Opt. Call		A3		1,729,153
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C:
	755	5.000%, 8/15/18 (ETM)		No Opt. Call		N/R (4)		782,097
	420	5.000%, 8/15/20 (ETM)		No Opt. Call		N/R (4)		466,616
	1,480	5.000%, 8/15/21 (ETM)		No Opt. Call		N/R (4)		1,693,061
	55	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C, 5.000%, 8/15/23 (Pre-refunded 8/15/22)		8/22 at 100.00		N/R (4)		64,365
		Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A:
	7,230	5.250%, 5/01/20		5/19 at 100.00		Aa2		7,715,133
	35	5.375%, 5/01/25		5/19 at 100.00		Aa2		37,412
	2,550	5.750%, 5/01/29		5/19 at 100.00		Aa2		2,736,507
		Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A:
	5	5.375%, 5/01/25 (Pre-refunded 5/01/19)		5/19 at 100.00		N/R (4)		5,348
	290	5.750%, 5/01/29 (Pre-refunded 5/01/19)		5/19 at 100.00		N/R (4)		311,912
		Wisconsin State, Transportation Revenue Bonds, Series 2014-1:
	5,000	5.000%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		5,343,500
	675	5.000%, 7/01/22 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		721,373
	1,770	5.000%, 7/01/23 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		1,891,599

NUVEEN 185

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		Wisconsin (continued)
		WPPI Energy, Wisconsin, Power Supply System Revenue Bonds, Refunding Series 2014A:
$	670	5.000%, 7/01/25		7/24 at 100.00				A1	$	792,704
	1,000	5.000%, 7/01/26		7/24 at 100.00				A1		1,183,820
	725	5.000%, 7/01/27		7/24 at 100.00				A1		852,774
	71,335	Total Wisconsin								75,628,676
$	4,286,323	Total Municipal Bonds (cost $4,485,986,908)								4,529,984,584
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (3)		Value
		CORPORATE BONDS – 0.0%
		Transportation – 0.0%
$	130	Las Vegas Monorail Company, Senior Interest Bonds (7), (8)		5.500%		7/15/19		N/R	$	81,792
	35	Las Vegas Monorail Company, Senior Interest Bonds (7), (8)		5.500%		7/15/55		N/R		17,809
$	165	Total Corporate Bonds (cost $12,901)								99,601
Shares		Description (1), (10)							Value
		INVESTMENT COMPANIES – 0.7%
	5,150,000	Eaton Vance Municipal Bond Fund II Institutional Munifund Term Preferred Shares iMTPs							$	5,150,051
	15,000,000	Eaton Vance Municipal Income Trust								15,001,800
	14,450,000	Eaton Vance Pennsylvania Municipal Bond Fund Institutional Munifund Term Preferred Shares iMTPs								14,450,145
		Total Investments Companies ($34,600,000)								34,601,996
		Total Long-Term Investments (cost $4,520,599,809)								4,564,686,181
Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 0.8%
		MUNICIPAL BONDS – 0.8%
		National – 0.0%
$	46	BB&T Municipal Trust Pool Tax Exempt Lease Certificates Class C, Variable Rate Demand Obligations, Series 2014, 1.640%, 11/15/17 (9)		No Opt. Call				N/R	$	46,022
		Florida – 0.8%
	37,970	Miami-Dade County School Board, Florida, Certificates of Participation, Tender Option Bond Floater 2013-005, 1.170%, 5/01/37 (9)		No Opt. Call				A-2		37,970,000
$	38,016	Total Short-Term Investments (cost $38,016,030)								38,016,022
		Total Investments (cost $4,558,615,839) – 99.6%								4,602,702,203
		Other Assets Less Liabilities – 0.4%								20,579,873
		Net Assets – 100%							$	4,623,282,076

186 NUVEEN

(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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(5) Step-up coupon bond, a bond with a coupon that increases (“steps up”), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

(6) As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.

(7) During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund’s Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund’s records.

(8) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.

(9) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

(10) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

(11) Variable rate security. The rate shown is the coupon as of the end of the reporting period.

(12) On July 1, 2017, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual from 5.000% to 2.000%.

ETM Escrowed to maturity.

LIBOR London Inter-Bank Offered Rate.

WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

PIK Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.

See accompanying notes to financial statements.

NUVEEN 187

Nuveen Short Term Municipal Bond Fund

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 98.2%
		MUNICIPAL BONDS – 96.2%
		Alabama – 0.9%
$	4,000	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47		4/22 at 100.52		A1	$	4,410,520
	1,000	Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2008, 1.625%, 7/15/34 (Mandatory put 10/02/18)		No Opt. Call		A1		1,002,990
	5,000	Total Alabama						5,413,510
		Alaska – 1.0%
		Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015:
	2,535	5.000%, 1/01/19 (Alternative Minimum Tax)		No Opt. Call		Baa2		2,641,647
	1,660	5.000%, 1/01/20 (Alternative Minimum Tax)		No Opt. Call		Baa2		1,779,902
	1,350	Alaska State, International Airport System Revenue Bonds, Refunding Series 2016C, 5.000%, 10/01/20 (Alternative Minimum Tax)		No Opt. Call		A1		1,494,234
	25	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 4.625%, 6/01/23		12/17 at 100.00		Ba2		25,438
	5,570	Total Alaska						5,941,221
		Arizona – 3.3%
	2,400	Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A, 5.000%, 2/01/19		No Opt. Call		BBB+		2,510,400
	1,545	Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/19		No Opt. Call		A+		1,631,226
		Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2010, Series 2013B:
	1,500	3.000%, 7/01/18		No Opt. Call		Aa1		1,522,965
	1,775	4.000%, 7/01/19		No Opt. Call		Aa1		1,865,827
	1,500	Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A, 5.000%, 1/01/20		No Opt. Call		AA–		1,628,550
	660	Maricopa County School District 14 Creighton Elementary, Arizona, General Obligation Bonds, Series 2014B, 3.000%, 7/01/18		No Opt. Call		A1		669,451
	1,100	Maricopa County Unified School District 11, Peoria, Arizona, General Obligation Bonds, School Improvement, Series 2014, 2.000%, 7/01/18		No Opt. Call		AA–		1,108,756
	3,195	Pinal County, Arizona, Pledged Revenue Obligations, Refunding Series 2014, 3.000%, 8/01/19		No Opt. Call		AA		3,297,080
	1,200	Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007, 5.250%, 12/01/20		No Opt. Call		BBB+		1,314,996
	1,070	Sun Devil Energy LLC, Arizona, Revenue Refunding Bonds, Arizona State University Project, Series 2008, 5.000%, 7/01/18		No Opt. Call		AA–		1,101,875
	1,325	Vistancia Community Facilities District, Peoria, Arizona, General Obligation Bonds, Refunding Series 2015, 4.000%, 7/15/18		No Opt. Call		A1		1,356,535

188 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	455	Yuma & La Paz Counties Community College District, Arizona, General Obligation Bonds, Refunding Series 2014, 4.000%, 7/01/18		No Opt. Call		Aa3	$	465,137
	500	Yuma County Elementary School District 1, Arizona, General Obligation Bonds, School Improvement Project 2014, Series 2015A, 4.000%, 7/01/18 – BAM Insured		No Opt. Call		AA		510,795
	830	Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2014A, 5.000%, 8/01/19		No Opt. Call		A–		882,871
	19,055	Total Arizona						19,866,464
		Arkansas – 0.8%
	3,280	North Little Rock Health Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 1996B, 5.375%, 12/01/19 (Pre-refunded 12/01/18)		12/18 at 100.00		A+ (4)		3,446,165
	1,535	University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Refunding Series 2015A, 5.000%, 11/01/19		No Opt. Call		Aa2		1,660,486
	4,815	Total Arkansas						5,106,651
		California – 4.6%
	5,605	California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2017C, 5.000%, 8/01/31 (Mandatory put 11/01/22)		No Opt. Call		AA–		6,572,588
	2,095	California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013B, 5.000%, 7/01/43 (Mandatory put 10/17/17)		No Opt. Call		AA–		2,099,337
	685	California Infrastructure and Economic Development Bank, Revenue Bonds, Pacific Gas and Electric Company, Refunding Series 2010E, 1.750%, 11/01/26 (Mandatory put 6/01/22)		No Opt. Call		A2		688,432
		California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016:
	695	5.000%, 8/01/19		No Opt. Call		BBB		739,466
	550	5.000%, 8/01/20		No Opt. Call		BBB		601,205
	2,875	California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Substance Abuse Treatment Facility & Corcoran II State Prison, Series 2014G, 5.000%, 1/01/20		No Opt. Call		A+		3,129,466
	1,365	Carson Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project Area 1, Refunding Series 2014A, 4.000%, 10/01/17		No Opt. Call		A		1,365,246
	4,000	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2017A-1, 5.000%, 6/01/21		No Opt. Call		BBB+		4,495,240
	2,990	Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Bond Anticipation Notes Series 2017, 0.000%, 4/01/22		No Opt. Call		Aa1		2,807,251
	360	Orange City, California, Special Tax Bonds, Community Facilities District 91-2, Serrano Heights Public Improvements, Refunding Series 2013, 3.000%, 10/01/17		No Opt. Call		A		360,043
	275	Rio Elementary School District, California, Special Tax Bonds, Community Facilities District 1, Refunding Series 2014, 4.000%, 9/01/18		No Opt. Call		N/R		281,628
	510	Riverside County Transportation Commission, California, Sales Tax Revenue Bonds, Limited Tax Series 2013A, 5.000%, 6/01/18		No Opt. Call		AA+		524,249
	420	Salinas Valley Solid Waste Authority, California, Revenue Bonds, Refunding Series 2014A, 5.000%, 8/01/18 – AGM Insured (Alternative Minimum Tax)		No Opt. Call		AA		433,587
	350	San Benito Health Care District, San Benito County, California, Revenue Bonds, Refunding Series 2013, 4.000%, 3/01/18		No Opt. Call		AA–		354,340

NUVEEN 189

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	1,000	San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay South Redevelopment Project, Refunding Series 2016C, 5.000%, 8/01/21		No Opt. Call		A–	$	1,138,830
	970	Sulphur Springs Union School District, Los Angeles County, California, General Obligation Bonds, Anticipation Notes Series 2014A, 0.000%, 1/01/18 (ETM)		No Opt. Call		N/R (4)		967,701
	280	Twin Rivers Unified School District, Sacramento and Placer Counties, California, General Obligation Bonds, Refunding Series 2014A, 4.000%, 8/01/18 – BAM Insured		No Opt. Call		AA		287,367
	985	Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 5.000%, 12/01/18 (ETM)		No Opt. Call		A+ (4)		1,032,763
	260	Val Verde Unified School District Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 2014, 4.000%, 10/01/18 – BAM Insured		No Opt. Call		AA		267,917
	26,270	Total California						28,146,656
		Colorado – 4.8%
		Adams and Arapahoe Counties Joint School District 28J, Aurora, Colorado, General Obligation Bonds, Series 2017A:
	1,100	5.000%, 12/01/19		No Opt. Call		Aa2		1,192,554
	1,400	5.000%, 12/01/20		No Opt. Call		Aa2		1,567,328
	710	Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 2.700%, 12/01/19		No Opt. Call		N/R		716,120
		Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, The Classical Academy Project, Refunding & Improvement Series 2014:
	375	3.000%, 12/01/17		No Opt. Call		A		376,241
	250	3.000%, 12/01/18		No Opt. Call		A		254,828
	235	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, The Classical Academy Project, Refunding Series 2015A, 4.000%, 12/01/18		No Opt. Call		A		242,262
	470	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Vanguard School Project, Refunding & Improvement Series 2016, 4.000%, 6/15/20		No Opt. Call		A		498,863
	1,685	Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016, 5.000%, 10/01/19		No Opt. Call		Baa2		1,790,902
	1,200	Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017, 5.000%, 6/01/21		No Opt. Call		BBB		1,330,344
	625	Colorado Health Facilities Authority, Colorado, Hospital Revenue Bonds, Boulder Community Hospital Project, Refunding Series 2010A, 4.000%, 10/01/18		No Opt. Call		A		641,550
	2,035	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009B-3, 1.875%, 7/01/39 (Mandatory put 11/06/19)		No Opt. Call		BBB+		2,040,596
	450	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016, 4.000%, 1/01/19		No Opt. Call		N/R		460,868
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A:
	300	3.000%, 6/01/18		No Opt. Call		A–		303,201
	600	4.000%, 6/01/19		No Opt. Call		A–		623,502
	375	Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2014, 2.000%, 8/01/18 – AGM Insured		No Opt. Call		AA		377,854
	75	Denver City & County Housing Authority, Colorado, Capital Fund Program Revenue Bonds, Three Tower Rehabilitation, Series 2007, 4.550%, 11/01/17 – AGM Insured (Alternative Minimum Tax) (ETM)		No Opt. Call		Aaa		75,214

190 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	1,730	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2011A, 5.250%, 11/15/18 (Alternative Minimum Tax)		No Opt. Call		A+	$	1,808,127
	555	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012A, 4.000%, 11/15/17 (Alternative Minimum Tax)		No Opt. Call		A+		557,220
	375	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/17		No Opt. Call		A		376,973
	1,000	Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016, 4.000%, 12/01/21		No Opt. Call		Baa2		1,088,510
		Eaton Area Park and Recreation District, Colorado, General Obligation Limited Tax Bonds, Series 2015:
	225	5.000%, 12/01/17		No Opt. Call		N/R		226,159
	100	5.000%, 12/01/19		No Opt. Call		N/R		105,817
	800	Jefferson County School District R-1, Colorado, Certificates of Participation, Jefferson County School Finance Corporation, Series 2016, 3.000%, 12/15/19		No Opt. Call		Aa3		827,504
	4,000	Moffat County, Colorado, Pollution Control Revenue Bonds, Tri-State Generation and Transmission Association, Inc. Project, Refunding Series 2009, 2.000%, 3/01/36 (Mandatory put 10/03/22)		No Opt. Call		A		3,989,440
	1,060	Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 4.000%, 12/01/19		No Opt. Call		N/R		1,109,788
		Pueblo Urban Renewal Authority, Colorado, State Sales Tax Increment Revenue Bonds, Regional Tourism Project, Series 2017:
	500	2.500%, 6/01/19		No Opt. Call		N/R		501,625
	700	2.750%, 6/01/20		No Opt. Call		N/R		702,681
	2,040	3.000%, 6/01/21		No Opt. Call		N/R		2,050,547
	510	Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2013B, 3.000%, 12/01/17		No Opt. Call		A		511,780
	1,365	University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2017C-1, 4.000%, 11/15/47 (Mandatory put 3/01/20)		9/19 at 100.00		AA–		1,436,690
	1,530	Weld County School District RE1, Colorado, General Obligation Bonds, Series 2017, 5.000%, 12/15/20 – AGM Insured		No Opt. Call		AA		1,707,159
	28,375	Total Colorado						29,492,247
		Connecticut – 0.3%
	1,795	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2015A, 1.375%, 7/01/35 (Mandatory put 7/11/18)		No Opt. Call		AAA		1,799,757
		District of Columbia – 0.7%
		Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017:
	2,475	5.000%, 10/01/20 (Alternative Minimum Tax)		No Opt. Call		AA–		2,744,057
	1,205	5.000%, 10/01/21 (Alternative Minimum Tax)		No Opt. Call		AA–		1,370,868
	3,680	Total District of Columbia						4,114,925
		Florida – 2.0%
	600	Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A, 4.000%, 11/15/17		No Opt. Call		BBB		601,884
	425	Brevard County Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Health First, Inc. Project, Refunding Series 2014, 5.000%, 4/01/18		No Opt. Call		A		433,020

NUVEEN 191

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	1,195	Lee County, Florida, Transportation Facilities Revenue Bonds, Refunding Series 2014, 5.000%, 10/01/18 – AGM Insured		No Opt. Call		AA	$	1,243,075
	1,035	Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017, 5.000%, 7/01/22		No Opt. Call		N/R		1,140,549
	1,000	Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH Corporation Obligated Group, Refunding Series 2014, 3.000%, 12/01/17		No Opt. Call		BBB+		1,003,040
	3,505	Saint Johns County School Board, Florida, Certificates of Participation, Master Lease Program, Refunding Series 2015, 5.000%, 7/01/18		No Opt. Call		Aa3		3,610,746
	1,000	South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 5.000%, 5/01/21		No Opt. Call		AA		1,127,700
	1,720	Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014B, 4.000%, 7/01/18		No Opt. Call		A–		1,755,174
	1,450	Tallahassee, Florida, Health Facilities Revenue Bonds, Tallahassee Memorial HealthCare Inc. Project, Series 2016A, 5.000%, 12/01/18		No Opt. Call		Baa1		1,506,246
	11,930	Total Florida						12,421,434
		Georgia – 1.4%
	1,500	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project, Series 2016D, 5.000%, 1/01/21		No Opt. Call		A2		1,665,150
	515	La Grange-Troup County Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System, Inc., Series 2017A, 5.000%, 4/01/20		No Opt. Call		A		561,489
		Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2014:
	529	5.500%, 7/15/23		7/21 at 100.00		N/R		534,323
	1,035	5.500%, 7/15/30		7/21 at 100.00		N/R		1,044,843
	1,136	5.500%, 1/15/36		7/21 at 100.00		N/R		1,147,056
	225	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012B, 4.000%, 10/01/18		No Opt. Call		Baa2		230,092
	3,000	State Road and Tollway Authority, Georgia, Federal Highway Reimbursement Revenue Bonds, Series 2017B2, 5.000%, 6/01/20		No Opt. Call		AA		3,295,110
	7,940	Total Georgia						8,478,063
		Hawaii – 1.1%
	3,000	Hawaii State, General Obligation Bonds, Series 2016FE, 5.000%, 10/01/21		No Opt. Call		AA+		3,438,180
	3,000	Honolulu City and County, Hawaii, General Obligation Bonds, Refunding Series 2009A, 5.000%, 4/01/34 (Pre-refunded 4/01/19)		4/19 at 100.00		Aa1 (4)		3,179,340
	6,000	Total Hawaii						6,617,520
		Idaho – 0.5%
		Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016:
	800	4.000%, 9/01/19		No Opt. Call		BB+		821,840
	1,565	4.000%, 9/01/20		No Opt. Call		BB+		1,624,001
	630	5.000%, 9/01/21		No Opt. Call		BB+		682,347
	2,995	Total Idaho						3,128,188
		Illinois – 5.2%
	1,390	Arlington Heights, Illinois, General Obligation Bonds, Series 2014, 3.000%, 12/01/18		No Opt. Call		Aa1		1,422,554
	660	Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/20 – FGIC Insured		No Opt. Call		A		599,511

192 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	6,100	Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2015, 5.000%, 6/01/18		No Opt. Call		A	$	6,249,877
	2,000	Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5337 State of Good Repair Formula Funds, Refunding Series 2017, 5.000%, 6/01/20		No Opt. Call		A+		2,184,020
		Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2015B:
	1,840	5.000%, 1/01/19		No Opt. Call		A		1,930,620
	475	5.000%, 1/01/20		No Opt. Call		A		515,594
	160	Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A, 4.500%, 12/01/20		No Opt. Call		N/R		160,883
		Illinois Finance Authority, Revenue Bonds, Benedictine University Project, Series 2013A:
	1,000	4.000%, 10/01/17		No Opt. Call		BBB		1,000,140
	500	5.000%, 10/01/19		No Opt. Call		BBB		530,615
	340	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 5.000%, 9/01/19		No Opt. Call		BBB–		359,400
	220	Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 6.250%, 2/01/19		No Opt. Call		Baa3		226,230
	1,095	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/20		No Opt. Call		A		1,210,599
	1,195	Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 5.000%, 7/01/18		No Opt. Call		A–		1,227,289
	1,000	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 5.000%, 11/15/19		No Opt. Call		A+		1,076,020
	5,375	Illinois State, General Obligation Bonds, February Series 2014, 5.000%, 2/01/21		No Opt. Call		BBB		5,768,719
	3,065	Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/21		No Opt. Call		BBB		3,285,159
	2,845	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013B, 5.000%, 12/01/17		No Opt. Call		AA–		2,865,626
		Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014:
	505	3.000%, 3/01/18 – AGM Insured		No Opt. Call		AA		507,949
	535	3.000%, 3/01/19 – AGM Insured		No Opt. Call		AA		544,175
	30,300	Total Illinois						31,664,980
		Indiana – 3.2%
	1,045	Greater Clark County School Building Corporation, Jeffersonville, Indiana, First Mortgage Bonds, Refunding Series 2014B, 5.000%, 7/15/18		No Opt. Call		AA+		1,077,531
	1,165	Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.000%, 3/01/18 (ETM)		No Opt. Call		N/R (4)		1,185,061
	920	Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Refunding Series 2014A, 4.000%, 12/01/18		No Opt. Call		AA		952,347
	435	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/18		No Opt. Call		AA		452,365
	3,000	Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2011A-2, 4.000%, 11/15/36 (Mandatory put 3/01/19)		No Opt. Call		AA+		3,119,250

NUVEEN 193

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	5,335	IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Series 2014, 5.000%, 7/15/18		No Opt. Call		AA+	$	5,504,120
	1,335	Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company Project, Series 2008D, 2.050%, 4/01/25 (Mandatory put 6/01/21)		No Opt. Call		A–		1,342,529
	6,000	Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company Project, Series 2009A, 1.750%, 6/01/25 (Mandatory put 6/01/18)		No Opt. Call		A–		6,015,960
	19,235	Total Indiana						19,649,163
		Iowa – 1.0%
	2,520	Iowa Finance Authority, Healthcare Revenue Bonds, Gensisi Health System, Refunding Series 2010, 5.000%, 7/01/20		No Opt. Call		A1		2,775,856
	145	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19		No Opt. Call		B		150,040
	125	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27		6/19 at 105.00		B		133,290
	1,135	Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Drake University Project, Refunding Series 2016, 3.000%, 4/01/19		No Opt. Call		A–		1,164,533
	1,130	Johnston Community School District, Iowa, School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2014, 5.000%, 7/01/19 – AGM Insured		No Opt. Call		AA		1,203,134
	700	Xenia Rural Water District, Iowa, Water Revenue Bonds, Refunding Capital Loan Note Series 2016, 3.000%, 12/01/19		No Opt. Call		BBB+		720,069
	5,755	Total Iowa						6,146,922
		Kansas – 0.1%
	500	Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Refunding & Improvement Series 2014A, 4.000%, 9/01/18		No Opt. Call		A+		513,590
		Kentucky – 2.1%
	10,000	Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Refunding Series 2016C, 5.000%, 5/15/20		No Opt. Call		AA		10,992,994
	1,155	Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A, 5.000%, 12/01/18		No Opt. Call		BBB+		1,197,308
	910	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 1.350%, 11/01/27 (Mandatory put 5/01/18) (Alternative Minimum Tax)		No Opt. Call		A1		910,528
	12,065	Total Kentucky						13,100,830
		Louisiana – 2.5%
	700	De Soto Parrish, Louisiana, Pollution Control Revenue Bonds, Southwestern Electric Power Company Project, Refunding Series 2010, 1.600%, 1/01/19		No Opt. Call		A–		700,483
	1,940	Ernest N. Morial-New Orleans Exhibition Hall Authority, Louisiana, Special Tax Bonds, Refunding Series 2014, 5.000%, 7/15/18		No Opt. Call		AA+		2,000,722
	500	Evangeline Parish Road & Drainage Sales Tax District 1, Louisiana, Sales and Use Tax Revenue Bonds, Series 2013, 3.000%, 12/01/17 – AGM Insured		No Opt. Call		AA		501,770

194 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2015:
$	1,295	5.000%, 6/01/18		No Opt. Call		A1	$	1,328,644
	1,800	5.000%, 6/01/19		No Opt. Call		A1		1,912,824
	505	5.000%, 6/01/20		No Opt. Call		A1		553,601
	2,400	Louisiana Offshore Terminal Authority, Deepwater Port Revenue Bonds, LOOP Inc. Project, Variable Rate Series 2010B-1, 2.000%, 10/01/40 (Mandatory put 10/01/22)		No Opt. Call		BBB+		2,400,000
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015:
	360	3.000%, 5/15/18		No Opt. Call		A3		364,248
	595	4.000%, 5/15/19		No Opt. Call		A3		621,257
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	2,275	5.000%, 7/01/19		No Opt. Call		AA–		2,425,514
	2,250	5.000%, 7/01/20		No Opt. Call		AA–		2,474,573
	14,620	Total Louisiana						15,283,636
		Maryland – 0.3%
		Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015:
	850	5.000%, 7/01/18		No Opt. Call		BBB		874,863
	915	5.000%, 7/01/19		No Opt. Call		BBB		974,384
	1,765	Total Maryland						1,849,247
		Massachusetts – 1.1%
	715	Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care, Series 2016I, 5.000%, 7/01/21		No Opt. Call		BBB+		797,711
		Massachusetts Educational Financing Authority, Education Loan Revenue Bonds Issue K Series 2017A:
	375	4.000%, 7/01/20 (Alternative Minimum Tax)		No Opt. Call		AA		398,636
	1,000	4.000%, 7/01/21 (Alternative Minimum Tax)		No Opt. Call		AA		1,078,010
	1,550	Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2016J, 4.000%, 7/01/20 (Alternative Minimum Tax)		No Opt. Call		AA		1,647,697
		Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2014:
	1,500	4.000%, 1/01/18 (Alternative Minimum Tax)		No Opt. Call		AA		1,510,740
	1,255	3.000%, 1/01/19 (Alternative Minimum Tax)		No Opt. Call		AA		1,280,050
	6,395	Total Massachusetts						6,712,844
		Michigan – 1.6%
	750	Brighton Area School District, Livingston County, Michigan, General Obligation Bonds, School Building & Site Series 2013II, 5.000%, 5/01/18		No Opt. Call		Aa1		767,325
	1,210	Michigan Finance Authority, Hospital Revenue Bonds, Beaumont Health Credit Group, Refunding Series 2015A, 4.000%, 8/01/18		No Opt. Call		A1		1,239,004
	2,115	Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2015, 5.000%, 12/01/18		No Opt. Call		AA–		2,211,402
	1,025	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Senior Credit Group, Refunding Series 2010F-3, 1.400%, 11/15/47 (Mandatory put 6/29/18)		No Opt. Call		AA+		1,026,835

NUVEEN 195

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
$	1,000	Michigan State, Grant Anticipation Bonds, Refunding Federal Highway Series 2016, 5.000%, 3/15/21		No Opt. Call		AA	$	1,124,960
		Saginaw Valley State University, Michigan, General Revenue Bonds, Refunding Series 2016A:
	1,325	5.000%, 7/01/19		No Opt. Call		A1		1,410,264
	1,000	5.000%, 7/01/20		No Opt. Call		A1		1,096,390
	690	Western Michigan University, General Revenue Bonds, Refunding Series 2013, 5.000%, 11/15/17		No Opt. Call		A1		693,629
	9,115	Total Michigan						9,569,809
		Minnesota – 9.7%
		Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A:
	150	3.000%, 8/01/18		No Opt. Call		BB+		150,368
	240	3.000%, 8/01/22		No Opt. Call		BB+		236,270
		Brainerd, Minnesota, Electric Utility Revenue Bonds, Series 2014A:
	360	3.000%, 12/01/17		No Opt. Call		AA		361,152
	365	3.000%, 12/01/18		No Opt. Call		AA		372,161
	380	3.000%, 12/01/20 – AGM Insured		No Opt. Call		AA		397,788
		Chippewa County, Minnesota, Gross Revenue Hospital Bonds, Montevideo Hospital Project, Refunding Series 2016:
	635	3.000%, 3/01/19		No Opt. Call		N/R		642,379
	745	3.000%, 3/01/20		No Opt. Call		N/R		757,829
	135	Columbus, Minnesota, Senior Housing Revenue Bonds, Richfield Senior Housing, Inc., Refunding Series 2015, 2.000%, 1/01/18		No Opt. Call		N/R		135,014
	805	Dakota County Community Development Agency, Minnesota, Senior Housing Revenue Bonds, Walker Highview Hills LLC Project, Refunding Series 2016A, 2.500%, 8/01/21		No Opt. Call		N/R		791,605
	440	Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2016A, 4.000%, 7/01/21		No Opt. Call		BB+		462,374
	1,200	Duluth Independent School District 709, Minnesota, Certificates of Participation, Refunding Series 2016A, 3.000%, 2/01/20		No Opt. Call		Aa2		1,244,712
	1,670	Ham Lake, Minnesota Charter School Lease Revenue Bonds, Parnassus Preparatory School Project, Series 2016A, 3.000%, 11/01/21		No Opt. Call		BB		1,657,692
	2,090	Hopkins Independent School District 270, Hennepin County, Minnesota, General Obligation Bonds, Crossover Refunding Series 2015C, 5.000%, 2/01/20		No Opt. Call		Aa2		2,276,909
	300	Maple Grove, Minnesota, Health Care Facilities Revenue Refunding Bonds, North Memorial Health Care, Series 2015, 4.000%, 9/01/18		No Opt. Call		Baa1		307,593
	2,985	Minneapolis Special School District 1, Hennepin County, Minnesota, Certificates of Participation, Refunding Series 2013D, 5.000%, 2/01/18		No Opt. Call		AA+		3,025,566
	2,055	Minneapolis Special School District 1, Hennepin County, Minnesota, General Obligation Bonds, Long-Term Facilities Maintenance Series 2016B, 5.000%, 2/01/20		No Opt. Call		AA+		2,242,765
	2,250	Minneapolis Special School District 1, Hennepin County, Minnesota, General Obligation Bonds, School Building Series 2016A, 5.000%, 2/01/20		No Opt. Call		AA+		2,455,583
	1,145	Minneapolis, Minnesota, Multi-Family Housing Revenue Bonds, Plymouth Stevens House Limited Partnership Project, Series 2016B, 2.000%, 12/01/17		4/17 at 100.00		N/R		1,145,321
	280	Minneapolis, Minnesota, Tax Increment Revenue Bonds, Grant Park Project, Refunding Series 2015, 2.350%, 3/01/18		No Opt. Call		N/R		280,020

196 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
		Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2015:
$	460	2.400%, 3/01/18		No Opt. Call		N/R	$	459,568
	605	3.000%, 3/01/20		No Opt. Call		N/R		604,189
	600	Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2014B, 5.000%, 1/01/18 (Alternative Minimum Tax)		No Opt. Call		A+		606,036
		Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Senior Lien Series 2016C:
	350	4.000%, 1/01/20		No Opt. Call		AA–		372,950
	200	4.000%, 1/01/21		No Opt. Call		AA–		218,026
	300	Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Series 2014-8-C, 2.000%, 5/01/18		No Opt. Call		Baa3		299,910
	475	Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Benedict, Series 2016-8K, 3.000%, 3/01/20		No Opt. Call		Baa1		491,464
	2,055	Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2010-7B, 5.000%, 10/01/18 (ETM)		No Opt. Call		A3 (4)		2,138,721
	690	Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2014C, 1.400%, 7/01/18 (Alternative Minimum Tax)		No Opt. Call		AA+		690,669
		Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2017A:
	500	1.400%, 7/01/19 (Alternative Minimum Tax)		No Opt. Call		AA+		499,910
	1,580	1.700%, 1/01/21 (Alternative Minimum Tax)		No Opt. Call		AA+		1,577,993
	2,210	Minnesota Public Facilities Authority, State Clean Water Revolving Fund Revenue Bonds, Series 2010C, 5.000%, 3/01/21 (Pre-refunded 3/01/20)		3/20 at 100.00		AAA		2,417,851
	2,210	Minnesota State, General Obligation Bonds, Various Purpose Series 2013A, 5.000%, 8/01/21		No Opt. Call		AAA		2,524,107
		Moorhead, Minnesota, Educational Facilities Revenue Bonds, The Concordia College Corporation Project, Series 2016:
	1,910	5.000%, 12/01/18		No Opt. Call		Baa1		1,982,504
	2,020	5.000%, 12/01/19		No Opt. Call		Baa1		2,156,067
	220	Ramsey, Anoka County, Minnesota, Lease Revenue Bonds, PACT Charter School Project, Refunding Series 2013A, 3.000%, 12/01/17		No Opt. Call		BBB–		220,150
		Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Series 2011:
	8,945	4.500%, 11/15/38 (Mandatory put 11/15/21)		No Opt. Call		AA		10,076,271
	990	4.000%, 11/15/38 (Mandatory put 11/15/18)		No Opt. Call		AA		1,022,819
	1,295	Saint Cloud Independent School District 742, Stearns County, Minnesota, General Obligation Bonds, Refunding Series 2015C, 5.000%, 2/01/20		No Opt. Call		Aa2		1,412,379
	295	Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A, 3.000%, 4/01/21		No Opt. Call		CCC–		258,039
	2,590	Saint Louis Park, Minnesota, Health Care Facilities Revenue Bonds, Park Nicollet Health Services, Refunding Series 2009, 5.750%, 7/01/39 (Pre-refunded 7/01/19)		7/19 at 100.00		Aaa		2,803,053
	155	Saint Paul Housing and Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Community of Peace Academy Project, Refunding Series 2015A, 2.750%, 12/01/20		No Opt. Call		BBB–		156,361
		Saint Paul Park, Minnesota, Senior Housing and Health Care Revenue Bonds, Presbyterian Homes Bloomington Project, Refunding Series 2017:
	820	3.000%, 9/01/20		No Opt. Call		N/R		837,458
	500	3.000%, 9/01/21		No Opt. Call		N/R		509,655
	500	3.000%, 9/01/22		No Opt. Call		N/R		505,920

NUVEEN 197

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
$	500	Sartell, Minnesota, Health Care Facilities Revenue Bonds, Country Manor Campus LLC Project, Refunding Series 2017, 3.000%, 9/01/22 (WI/DD, Settling 10/12/17)		No Opt. Call		N/R	$	499,090
	1,555	Sauk Rapids Independent School District 047, Benton County, Minnesota, General Obligation Bonds, Refunding School Building Series 2015A, 5.000%, 2/01/20		No Opt. Call		AA+		1,694,810
	120	Savage, Minnesota Charter School Lease Revenue Bonds, Aspen Academy Project, Series 2016A, 3.625%, 10/01/21		No Opt. Call		N/R		119,000
		St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A:
	1,365	5.000%, 11/15/18 (ETM)		No Opt. Call		A+ (4)		1,427,244
	1,330	5.000%, 11/15/19 (ETM)		No Opt. Call		A+ (4)		1,438,555
	55,575	Total Minnesota						58,963,870
		Mississippi – 0.2%
	1,000	Mississippi Development Bank, Special Obligation Bonds, Municipal Energy Agency of Mississippi, Power Supply Project, Refunding Series 2015A, 5.000%, 3/01/19 – AGM Insured		No Opt. Call		AA		1,052,700
		Missouri – 3.3%
	1,740	Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/18		No Opt. Call		AA+		1,810,000
	400	Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2017A, 5.000%, 3/01/21		No Opt. Call		BBB–		437,324
	300	Cape Girardeau County Reorganized School District R2, Missouri, Certificates of Participation, Refunding Series 2014, 3.000%, 4/01/18 – BAM Insured		No Opt. Call		AA		302,904
	1,020	Chesterfield Valley Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2015, 3.250%, 5/15/28		5/23 at 100.00		A–		1,034,596
	180	Curators of the University of Missouri, System Facilities Revenue Bonds, Series 2007A, 5.000%, 11/01/35 (Pre-refunded 11/01/17)		11/17 at 100.00		AA+ (4)		180,682
	520	Hanley/Eager Road Transportation Development District, Missouri, Revenue Bonds, Refunding Series 2016A, 2.375%, 3/01/21		No Opt. Call		N/R		510,047
	1,000	Jackson County, Missouri, Special Obligation Bonds, Rirr Right of Way Project, Series 2016, 5.000%, 12/01/20		No Opt. Call		A1		1,113,170
	1,245	Jackson County, Missouri, Special Obligation Bonds, Truman Sports Complex Project, Refunding Series 2014, 5.000%, 12/01/19		No Opt. Call		A1		1,345,459
	1,000	Kansas City Industrial Development Authority, Missouri, Special Obligation Revenue Bonds, Plaza Library Project, Refunding Series 2014, 3.000%, 3/01/18		No Opt. Call		N/R		1,004,240
	1,300	Kansas City, Missouri, Special Obligation Bonds, Kansas City Missouri Projects, Series 2016A, 5.000%, 10/01/20		No Opt. Call		AA–		1,436,864
	285	Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2014A, 4.000%, 2/01/18		No Opt. Call		BBB		287,619
	1,000	Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2016B, 4.000%, 2/01/20		No Opt. Call		N/R		1,052,540
		Plaza at Noah’s Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015:
	780	2.500%, 5/01/18		No Opt. Call		N/R		781,942
	775	2.750%, 5/01/19		No Opt. Call		N/R		781,448
	500	3.000%, 5/01/20		No Opt. Call		N/R		507,695
	300	3.250%, 5/01/21		No Opt. Call		N/R		306,267

198 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri (continued)
$	1,000	Saint Charles County Public Water Supply District 2, Missouri, Certificates of Participation, Refunding Series 2016B, 5.000%, 12/01/21		No Opt. Call		AA	$	1,143,190
	640	Saint Louis County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Ranken-Jordan Project, Refunding & Improvement Series 2016, 4.000%, 11/15/20		No Opt. Call		N/R		657,485
	170	Saint Louis Industrial Development Authority, Missouri, Tax Increment Bonds, Southtown Redevelopment Project, Refunding Series 2015, 3.000%, 11/01/22		No Opt. Call		N/R		169,942
	530	Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, City Parks, Series 2014, 4.000%, 6/15/18 – AGM Insured		No Opt. Call		AA		540,807
	1,135	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/18 – NPFG Insured		No Opt. Call		A		1,172,273
	1,745	Springfield, Missouri, Special Obligation Bonds, Refunding Series 2017B, 5.000%, 7/01/21 (Alternative Minimum Tax)		No Opt. Call		Aa2		1,961,048
	195	St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005A, 5.100%, 11/01/19		11/17 at 100.00		N/R		195,185
	1,525	St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A, 2.850%, 9/01/18		3/18 at 100.00		A–		1,534,089
	19,285	Total Missouri						20,266,816
		Montana – 0.3%
	1,740	Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Composite Deal Series 2010B, 5.000%, 1/01/19		No Opt. Call		AA–		1,825,260
		Nebraska – 2.2%
	690	Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 12/01/21		No Opt. Call		A		784,358
	6,380	Central Plains Energy Project, Nebraska, Gas Supply Revenue Bonds, Refunding Series 2014, 5.000%, 8/01/39 (Mandatory put 12/01/19)		12/19 at 100.00		A1		6,870,619
		Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Refunding Series 2017A:
	650	3.000%, 7/01/18		No Opt. Call		BBB		657,833
	1,000	4.000%, 7/01/20		No Opt. Call		BBB		1,061,080
	1,555	5.000%, 7/01/22		No Opt. Call		BBB		1,752,796
	1,000	Nebraska State Colleges Facilities Corporation, Building Bonds, CSC Rangeland Center and WCS U.S. Conn Library Projects, Series 2014, 5.000%, 6/15/18		No Opt. Call		AA+		1,027,570
	1,235	University of Nebraska Facilities Corporation, UNMC Cancer Center Bonds, Series 2014A, 4.000%, 2/15/18		No Opt. Call		Aa1		1,249,462
	12,510	Total Nebraska						13,403,718
		Nevada – 3.4%
	5,240	Clark County, Nevada, Airport Revenue Bonds, Junior Lien Series 2014B, 5.000%, 7/01/18		No Opt. Call		A+		5,398,091
	3,000	Clark County, Nevada, Airport Revenue Bonds, Junior Subordinate Lien Notes Series 2017C, 5.000%, 7/01/21 (Alternative Minimum Tax)		No Opt. Call		A+		3,385,500
	2,000	Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Refunding Series 2017B, 5.000%, 7/01/20 (Alternative Minimum Tax)		No Opt. Call		Aa3		2,198,480

NUVEEN 199

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nevada (continued)
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016:
$	1,185	3.000%, 9/01/18		No Opt. Call		N/R	$	1,194,753
	1,890	4.000%, 9/01/20		No Opt. Call		N/R		1,975,466
	795	2.000%, 9/01/21		No Opt. Call		N/R		776,643
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-4C Green Valley Properties, Refunding Series 2014:
	1,480	4.000%, 11/01/17		No Opt. Call		N/R		1,483,330
	1,035	4.000%, 11/01/18		No Opt. Call		N/R		1,060,544
	1,080	Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 812 Summerlin Village 24, Series 2015, 3.500%, 12/01/19		No Opt. Call		N/R		1,094,202
	1,790	Nevada State, General Obligation Bonds, Capital Improvement & Refunding Series 2015E, 5.000%, 2/01/21		No Opt. Call		AA+		2,011,513
	19,495	Total Nevada						20,578,522
		New Hampshire – 0.1%
	1,030	New Hampshire Business Finance Authority, Water Facility Revenue Bonds, Pennichuck Water Works Inc., Refunding Series 2014A, 4.000%, 1/01/18 (Alternative Minimum Tax)		No Opt. Call		A+		1,036,355
		New Jersey – 5.2%
	1,000	Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Refunding Series 2014A, 5.000%, 2/15/18		No Opt. Call		BBB+		1,013,660
		Lacey Township School District, Ocean County, New Jersey, General Obligation Bonds, Refunding Series 2016:
	1,585	4.000%, 4/01/19 – BAM Insured		No Opt. Call		AA		1,650,540
	1,665	4.000%, 4/01/20 – BAM Insured		No Opt. Call		AA		1,772,492
	1,330	5.000%, 4/01/21 – BAM Insured		No Opt. Call		AA		1,490,092
	7,000	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 5.000%, 7/01/23 – BAM Insured		No Opt. Call		AA		8,076,527
	2,585	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, AHS Hospital Corporation, Refunding Series 2016, 5.000%, 7/01/19		No Opt. Call		AA–		2,754,628
	2,000	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare System, Series 2016A, 5.000%, 7/01/19		No Opt. Call		Baa2		2,121,860
	2,000	New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2014-1A-1, 4.000%, 12/01/17 (Alternative Minimum Tax)		No Opt. Call		Aaa		2,009,540
	2,000	New Jersey Transit Corporation, Grant Anticipation Notes, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Series 2014A, 5.000%, 9/15/18		No Opt. Call		A		2,064,480
	4,365	New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-1, 5.000%, 6/15/20		No Opt. Call		A+		4,705,121
	3,100	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/18		No Opt. Call		A–		3,226,201
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:
	915	4.500%, 6/01/23		12/17 at 100.00		BBB+		915,869
	110	4.625%, 6/01/26		12/17 at 100.00		BBB		110,105
	29,655	Total New Jersey						31,911,115

200 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Mexico – 0.9%
$	5,130	New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19)		8/19 at 100.00		A1	$	5,456,268
		New York – 8.5%
	1,135	Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015, 5.000%, 7/01/18		No Opt. Call		BBB+		1,167,143
	380	Build New York City Resource Corporation, New York, Revenue Bonds, Bronx Charter School for Excellence, Series 2013A, 3.000%, 4/01/18		No Opt. Call		BBB–		381,634
	1,625	Chautauqua County Capital Resource Corporation, New York, Multi-Mode Revenue Bonds, Jamestown Center City Development Corporation Project, Guaranteed by the Gebbie Foundation, Series 2013, 1.300%, 11/01/31 (Mandatory put 11/01/18)		No Opt. Call		AA–		1,626,040
	1,770	Chautauqua County Capital Resource Corporation, New York, Multi-Mode Revenue Bonds, Jamestown Center City Development Corporation Project, Guaranteed by the Gebbie Foundation, Series 2013, 1.500%, 11/01/31 (Mandatory put 4/30/20)		No Opt. Call		AA–		1,788,762
	5,000	Chautauqua County Capital Resource Corporation, New York, Multi-Mode Revenue Bonds, Jamestown Center City Development Corporation Project, Guaranteed by the Gebbie Foundation, Series 2013, 1.700%, 11/01/31 (Mandatory put 11/01/19)		No Opt. Call		AA–		5,001,200
	1,375	Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2015, 5.000%, 7/01/18		No Opt. Call		A–		1,416,484
	1,435	Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2014A, 5.000%, 10/01/18 – AGM Insured		No Opt. Call		AA		1,493,017
	4,015	Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014A, 5.000%, 2/15/19		No Opt. Call		AAA		4,237,712
	2,000	New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2014 Series B-1, 5.000%, 11/01/18		No Opt. Call		AAA		2,086,620
	2,000	New York City, New York, General Obligation Bonds, Fiscal 2014 Series J, 5.000%, 8/01/18		No Opt. Call		AA		2,067,240
	1,765	New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New York State Electric and Gas Corporation, Series 1994B, 2.000%, 2/01/29 (Mandatory put 5/01/20)		No Opt. Call		A–		1,786,727
	1,960	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A–		2,078,776
		New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:
	5,000	5.000%, 8/01/19 (Alternative Minimum Tax)		No Opt. Call		BB–		5,257,500
	1,985	5.000%, 8/01/20 (Alternative Minimum Tax)		No Opt. Call		BB–		2,131,632
	620	Niagara Falls, New York, General Obligation Bonds, Series 2014, 2.000%, 3/01/18 – AGM Insured		No Opt. Call		AA		621,705
	6,000	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Sixth Series 2014, 5.000%, 10/15/18 (Alternative Minimum Tax)		No Opt. Call		AA–		6,245,940
	5,000	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Ninety-Seventh Series 2016, 5.000%, 11/15/19 (Alternative Minimum Tax)		No Opt. Call		AA–		5,405,600
	665	Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/18		No Opt. Call		A–		684,192
	1,880	Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2015, 4.000%, 8/01/19		No Opt. Call		A3		1,971,970

NUVEEN 201

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A:
$	3,055	4.000%, 6/01/19		No Opt. Call		A	$	3,180,102
	1,225	5.000%, 6/01/20		No Opt. Call		A		1,333,498
	49,890	Total New York						51,963,494
		North Carolina – 0.9%
		North Carolina Central University, General Revenue Bonds, Refunding Series 2016:
	2,195	4.000%, 10/01/19		No Opt. Call		A3		2,309,030
	2,250	4.000%, 10/01/20		No Opt. Call		A3		2,412,990
	700	North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Southminster Project, Refunding Series 2016, 4.000%, 10/01/19		No Opt. Call		N/R		718,613
	5,145	Total North Carolina						5,440,633
		North Dakota – 0.7%
	3,000	Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 5.250%, 11/01/18		No Opt. Call		A+		3,135,690
	815	Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/19		No Opt. Call		A–		876,720
	3,815	Total North Dakota						4,012,410
		Ohio – 1.3%
	1,000	Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Facilities Revenue Bonds, Summa Health System, Refunding & Improvement Series 2016, 5.000%, 11/15/19		No Opt. Call		A–		1,066,000
	685	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18)		No Opt. Call		Caa1		313,388
	280	Ohio Higher Education Facilities Commission, Revenue Bonds, John Carroll University, Series 2014, 2.250%, 9/01/33 (Mandatory put 9/01/18)		No Opt. Call		A3		282,215
	1,000	Ohio State Higher Educational Facility Commission, Higher Education Facility Revenue Bonds, Xavier University 2008C, 5.000%, 5/01/18 (ETM)		No Opt. Call		A3 (4)		1,024,300
	4,000	Ohio Water Development Authority, Ohio, Solid Waste Revenue Refunding Bonds, Waste Management, Inc. Project, Series 2002, 1.700%, 11/01/22 (Mandatory put 11/01/18) (Alternative Minimum Tax)		No Opt. Call		A–		4,007,000
	1,230	University of Toledo, Ohio, General Receipts Bonds, Refunding Series 2010, 5.000%, 6/01/18		No Opt. Call		A1		1,262,693
	8,195	Total Ohio						7,955,596
		Oklahoma – 1.1%
	1,000	Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012, 4.000%, 9/01/18		No Opt. Call		A+		1,027,090
	1,005	Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2016, 5.000%, 6/01/20		No Opt. Call		A+		1,102,565
	1,070	Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Refunding Series 2015A, 5.000%, 8/15/18		No Opt. Call		AA–		1,108,242
		Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Refunding Series 2015B:
	860	4.000%, 6/01/18 – BAM Insured (Alternative Minimum Tax)		No Opt. Call		AA		875,764
	1,000	5.000%, 6/01/20 – BAM Insured		No Opt. Call		AA		1,087,560
	1,200	Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2015A, 4.000%, 6/01/18 – BAM Insured (Alternative Minimum Tax)		No Opt. Call		AA		1,221,996
	6,135	Total Oklahoma						6,423,217

202 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oregon – 0.4%
$	2,295	Multnomah County School District 1J, Portland, Oregon, General Obligation Bonds, Series 2013B, 5.000%, 6/15/20		No Opt. Call		Aa1	$	2,533,565
		Pennsylvania – 3.3%
	1,115	Corry Area School District, Erie County, Pennsylvania, General Obligation Bonds, Refunding Series 2014, 3.000%, 12/15/18		No Opt. Call		AA		1,140,311
	500	East Hempfield Township Industrial Development Authority, Pennsylvania, Revenue Bonds, Willow Valley Communities Project, Refunding Series 2016, 4.000%, 12/01/18		No Opt. Call		N/R		515,945
	500	East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services Inc. – Student Housing Project at Millersville University, Series 2014, 2.250%, 7/01/18		No Opt. Call		BBB–		501,750
	350	Economy Municipal Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2013, 3.000%, 12/15/17		No Opt. Call		AA		351,509
	250	Indiana County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Indiana Regional Medical Center, Series 2014A, 4.000%, 6/01/18		No Opt. Call		Ba1		251,363
	1,000	Lancaster Industrial Development Authority, Pennsylvania, Revenue Bonds, Garden Spot Village Project, Series 2013, 5.000%, 5/01/18		No Opt. Call		BBB		1,015,580
	1,000	Manheim Township School District, Lancaster County, Pennsylvania, General Obligation Bonds, Libor Index Rate Mode, Series 2014A, 1.244%, 5/01/25 (Mandatory put 11/07/17) (Pre-refunded 11/07/17) (1-Month LIBOR reference rate + 0.40% spread) (7)		11/17 at 100.00		Aa2 (4)		998,380
	5,045	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016, 5.000%, 6/01/21		No Opt. Call		A3		5,680,569
		Pittsburgh Public Parking Authority, Pennsylvania, Parking System Revenue Bonds, Refunding Series 2015A:
	620	4.000%, 12/01/18		No Opt. Call		A+		640,026
	1,515	5.000%, 12/01/19		No Opt. Call		A+		1,631,988
	1,275	Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2014B, 4.000%, 9/01/18 – BAM Insured		No Opt. Call		AA		1,308,941
	2,760	Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Refunding Bonds, Series 2002A, 5.500%, 9/01/18 – AGM Insured		No Opt. Call		AA		2,870,317
	635	Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012A, 5.000%, 9/01/19		No Opt. Call		AA–		680,663
	430	Southcentral Pennsylvania General Authority, Revenue Bonds, Wellspan Health Obligated Group, Refunding Series 2014A, 5.000%, 6/01/18		No Opt. Call		Aa3		441,262
		State Public School Building Authority, Pennsylvania, College Revenue Bonds, Harrisburg Area Community College Project, Series 2014B2:
	1,105	3.000%, 10/01/17		No Opt. Call		AA		1,105,122
	1,255	4.000%, 10/01/18		No Opt. Call		AA		1,287,530
	19,355	Total Pennsylvania						20,421,256
		Rhode Island – 0.7%
	1,535	Rhode Island Commerce Corporation, Grant Anticipation Bonds, Rhode Island Department of Transportation, Refunding Series 2016A, 5.000%, 6/15/20		No Opt. Call		AA–		1,689,007
		Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Bonds, University of Rhode Island Auxiliary Enterprise, Refunding Series 2016B:
	675	5.000%, 9/15/19		No Opt. Call		A+		725,078
	375	5.000%, 9/15/20		No Opt. Call		A+		415,560
	1,525	Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Refunding Series 2016, 5.000%, 5/15/20		No Opt. Call		BBB+		1,657,995
	4,110	Total Rhode Island						4,487,640

NUVEEN 203

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Dakota – 0.4%
		Sioux Falls, South Dakota, Health Facilities Revenue Bonds, Dow Rummel Village Project, Refunding Series 2016:
$	300	2.650%, 11/01/20		No Opt. Call		N/R	$	298,305
	200	3.000%, 11/01/21		No Opt. Call		N/R		198,032
	585	Sioux Falls, South Dakota, Health Facilities Revenue Bonds, Dow Rummel Village Project, Series 2017, 3.100%, 11/01/22		No Opt. Call		N/R		591,043
	485	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/19		No Opt. Call		A+		523,213
	1,015	South Dakota Housing Development Authority, Multiple Purpose Revenue Bonds, Series 2013A, 1.600%, 5/01/18		No Opt. Call		Aa3		1,017,233
	2,585	Total South Dakota						2,627,826
		Tennessee – 1.0%
	1,000	Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A, 5.000%, 1/01/21		No Opt. Call		A		1,107,750
	1,290	Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009B, 5.500%, 11/01/20		11/19 at 100.00		AA–		1,404,075
	3,500	Metropolitan Government of Nashville-Davidson County, Tennessee, Exempt Facilities Revenue Bonds, Waste Management Inc., Series 2001, 1.450%, 8/01/31 (Mandatory put 8/01/18) (Alternative Minimum Tax)		No Opt. Call		A–		3,499,930
	5,790	Total Tennessee						6,011,755
		Texas – 9.2%
	1,150	Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A, 5.000%, 1/01/21		No Opt. Call		BBB+		1,273,142
	5,720	Brazosport Independent School District, Brazoria County, Texas, General Obligation Bonds, School Building Series 2015, 5.000%, 2/15/20		No Opt. Call		Aaa		6,242,408
	1,000	Corpus Christi Business and Job Development Corporation, Texas, Sales Tax Revenue Bonds, Arena Project, Refunding Series 2014, 4.000%, 9/01/18		No Opt. Call		AA		1,027,090
	1,525	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2014D, 5.000%, 11/01/18 (Alternative Minimum Tax)		No Opt. Call		A+		1,587,601
	3,000	Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Refunding Series 2010A, 5.000%, 6/01/19		No Opt. Call		A+		3,188,370
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C:
	590	4.000%, 11/15/17		No Opt. Call		A3		592,266
	2,415	4.000%, 11/15/18		No Opt. Call		A3		2,488,561
	1,000	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/20		No Opt. Call		A2		1,107,190
	2,260	Houston Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Schoolhouse Series 2016A, 5.000%, 2/15/21		No Opt. Call		AAA		2,543,427
	5,000	Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2014C, 4.000%, 5/15/21		No Opt. Call		AA		5,473,150
	410	Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014, 5.000%, 9/01/18		No Opt. Call		A2		424,420
	500	Laredo Community College District, Webb County, Texas, General Obligation Bonds, Series 2014, 5.000%, 8/01/18		No Opt. Call		AA–		516,510

204 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds, Series 2017:
$	1,000	5.000%, 11/01/19 (Alternative Minimum Tax)		No Opt. Call		A1	$	1,075,700
	1,500	5.000%, 11/01/20 (Alternative Minimum Tax)		No Opt. Call		A1		1,661,850
	4,480	Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2011A, 5.000%, 5/15/20		No Opt. Call		A1		4,916,934
	1,000	Lubbock, Texas, General Obligation Bonds, Tax & Waterworks System Surplus Revenue Certificates of Obligation, Series 2015, 5.000%, 2/15/21		No Opt. Call		AA+		1,122,230
	4,000	Matagorda County Navigation District 1, Texas, Pollution Control Revenue Bonds, Central Power & Light Company Project, Refunding Series 1996, 1.750%, 5/01/30 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		A–		3,989,400
	375	McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013, 3.000%, 12/01/18		No Opt. Call		B1		375,094
		New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Methodist Retirement Communities Crestview Project, Series 2016:
	345	2.000%, 11/15/19		No Opt. Call		N/R		339,515
	615	4.000%, 11/15/21		No Opt. Call		N/R		636,058
		New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – College Station I LLC – Texas A&M University Project, Series 2014A:
	125	4.000%, 4/01/18 – AGM Insured		No Opt. Call		AA		126,638
	325	4.000%, 4/01/19 – AGM Insured		No Opt. Call		AA		336,482
	1,500	North Harris County Regional Water Authority, Texas, Water Revenue Bonds, Refunding Senior Lien Series 2016, 5.000%, 12/15/20		No Opt. Call		AA–		1,675,140
	1,425	Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Series 2009A, 4.375%, 9/01/18 – AGC Insured		No Opt. Call		AA		1,466,083
	2,605	Texas State Transportation Commission, Highway Fund Revenue Bonds, First Tier Series 2014A, 5.000%, 4/01/19		No Opt. Call		AAA		2,760,727
		Texas State University System, Financing Revenue Bonds, Refunding Series 2017A:
	3,000	5.000%, 3/15/19		No Opt. Call		Aa2		3,170,820
	2,000	5.000%, 3/15/20		No Opt. Call		Aa2		2,185,680
	2,500	Texas State, General Obligation Bonds, Public Finance Authority, Refunding Series 2014A, 5.000%, 10/01/20		No Opt. Call		AAA		2,786,275
	1,000	Travis County, Texas, General Obligation Bonds, Refunding Limited Tax Series 2016A, 5.000%, 3/01/21		No Opt. Call		AAA		1,126,440
	52,365	Total Texas						56,215,201
		Utah – 0.2%
		West Valley City Municipal Building Authority, Salt Lake County, Utah, Lease Revenue Bonds, Refunding Series 2016:
	660	2.000%, 2/01/19 – AGM Insured		No Opt. Call		AA		667,042
	575	3.000%, 2/01/20 – AGM Insured		No Opt. Call		AA		598,115
	1,235	Total Utah						1,265,157
		Vermont – 0.4%
	2,715	Vermont Student Assistance Corporation, Education Student Loan Revenue Notes Series 2012A, 2.550%, 6/15/18 (Alternative Minimum Tax)		No Opt. Call		AAA		2,734,358

NUVEEN 205

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia – 0.3%
$	425	Peninsula Ports Authority of Virginia, Coal Terminal Revenue Bonds, Dominion Terminal Associates Project-DETC Issue, Refunding Series 2003, 1.550%, 10/01/33 (Mandatory put 10/01/19)		No Opt. Call		BBB+	$	424,290
	1,160	Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2010A, 1.875%, 11/01/40 (Mandatory put 6/01/20)		No Opt. Call		A2		1,171,136
	1,585	Total Virginia						1,595,426
		Washington – 2.3%
	4,185	Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2014A, 5.000%, 7/01/18		No Opt. Call		Aa1		4,313,228
		Port Everett, Washington, Revenue Bonds, Refunding Series 2016:
	200	3.000%, 12/01/19		No Opt. Call		A1		207,416
	200	4.000%, 12/01/20		No Opt. Call		A1		216,292
	225	4.000%, 12/01/21		No Opt. Call		A1		247,775
	860	Port of Pasco, Washington, Airport and General Port Revenue Bonds, Series 2014A, 3.000%, 12/01/17 (Alternative Minimum Tax)		No Opt. Call		A–		862,632
	1,500	Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015C, 5.000%, 4/01/19 (Alternative Minimum Tax)		No Opt. Call		AA–		1,586,760
		Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Regional Health, Improvement & Refunding Series 2013A:
	1,425	4.000%, 12/01/17		No Opt. Call		Baa2		1,430,515
	610	5.000%, 12/01/18		No Opt. Call		Baa2		631,118
	1,775	Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016, 4.000%, 12/01/21		No Opt. Call		Baa2		1,895,185
	470	Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A, 5.000%, 11/15/18		No Opt. Call		A+		490,130
	1,400	Washington State Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2005D, 1.250%, 11/01/17		No Opt. Call		A–		1,400,350
	500	Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009, 6.000%, 7/01/19		No Opt. Call		Baa1		538,825
	500	Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 5.000%, 1/01/18 (ETM)		No Opt. Call		A (4)		505,280
	13,850	Total Washington						14,325,506
		West Virginia – 0.1%
	1,000	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 1.700%, 1/01/41 (Mandatory put 9/01/20) (Alternative Minimum Tax)		No Opt. Call		A–		993,950
		Wisconsin – 1.6%
	2,855	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-3, 2.000%, 7/01/29 (Mandatory put 6/01/21) (Alternative Minimum Tax)		No Opt. Call		A–		2,877,041
	1,050	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian HealthCare, Inc., Series 2017, 5.000%, 7/01/21		No Opt. Call		A		1,175,927
	530	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Bellin Memorial Hospital, Series 2015, 3.000%, 12/01/18		No Opt. Call		A+		541,565

206 NUVEEN

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of Christian Charity Sponsored Ministry, Series 2017A:
$	150	5.000%, 9/01/19		No Opt. Call		BBB+	$	159,761
	330	5.000%, 9/01/21		No Opt. Call		BBB+		368,834
	820	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Hospital Sisters Services, Inc., Refunding Series 2014A, 5.000%, 11/15/18		No Opt. Call		AA–		856,088
	100	Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014, 2.750%, 10/01/17		No Opt. Call		N/R		100,006
		Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Fort Healthcare, Series 2014:
	375	4.000%, 5/01/18		No Opt. Call		BBB+		380,614
	300	4.000%, 5/01/19		No Opt. Call		BBB+		310,767
	450	Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare Inc., Series 2015, 5.000%, 12/15/18		No Opt. Call		AA–		470,912
		Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series 2015A:
	1,000	1.850%, 3/01/19 (Alternative Minimum Tax)		No Opt. Call		AA		1,004,910
	1,260	1.950%, 9/01/19 (Alternative Minimum Tax)		No Opt. Call		AA		1,270,459
	9,220	Total Wisconsin						9,516,884
$	557,880	Total Municipal Bonds (cost $584,421,823)						588,036,155
Shares		Description (1), (6)					Value
		INVESTMENT COMPANIES – 2.0%
	6,525,000	Eaton Vance Michigan Municipal Bond Fund Institutional Munifund Term Preferred Shares iMTPs					$	6,525,065
	875,000	Eaton Vance Municipal Bond Fund II Institutional Munifund Term Preferred Shares iMTPs						875,009
	5,000,000	Eaton Vance New York Municipal Bond Fund Institutional Munifund Term Preferred Shares iMTPs						5,000,600
		Total Investment Companies (cost $12,400,000)						12,400,674
		Total Long-Term Investments (cost $596,821,823)						600,436,829
Principal Amount (000)		Description (1)	Optional Call Provision (2)		Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 1.8%
		MUNICIPAL BONDS – 1.8%
		National – 0.0%
$	46	BB&T Municipal Trust Pool Tax Exempt Lease Certificates Class C, Variable Rate Demand Obligations, Series 2014, 1.640%, 11/15/17 (SIFMA reference rate + 0.70% spread), (5), (7)		No Opt. Call		N/R	$	46,022
		Colorado – 0.3%
	1,750	Colorado Health Facilities Authority, Colorado, Variable Rate Demand Obligations, Revenue Bonds, Catholic Health Initiatives, Series 2008-C2, 2.091%, 10/01/39 (1-Month LIBOR reference rate + 1.25% spread), (5), (7)		5/20 at 100.00		BBB+		1,751,522
		Louisiana – 1.3%
	8,000	St. Bernard Parish, Louisiana, Variable Rate Demand Obligations, Exempt Facility Revenue Bonds, Mobil Oil Corporation, Series 1996, 0.950%, 11/01/26 (5)		12/17 at 100.00		A-1+		8,000,000

NUVEEN 207

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments September 30, 2017 (Unaudited)

Principal Amount (000)		Description (1)	Optional Call Provision (2)		Ratings (3)		Value
		Missouri – 0.2%
$	1,000	Missouri Environmental Improvement and Energy Resources Authority, Variable Rate Demand Obligations, Revenue Bonds, Kansas City Power & Light Company Project, Series 2008, 2.875%, 5/01/38 (5)		No Opt. Call		BBB+	$	1,009,100
$	10,796	Total Short-Term Investments (cost $10,809,512)						10,806,644
		Total Investments (cost $607,631,335) – 100.0%						611,243,473
		Other Assets Less Liabilities – (0.0)%						(233,895	)
		Net Assets – 100%					$	611,009,578

(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) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.

(4) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.

(5) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

(6) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.

(7) Variable rate security. The rate shown is the coupon as of the end of the reporting period.

ETM Escrowed to maturity.

LIBOR London Inter-Bank Offered Rate.

SIFMA Securities Industry and Financial Markets Association Municipal Swap Index.

WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.

See accompanying notes to financial statements.

208 NUVEEN

Statement of

Assets and Liabilities September 30, 2017 (Unaudited)

	All-American			Inflation Protected			Intermediate Duration			Limited Term			Short Term
Assets
Long-term investments, at value (cost $3,311,563,050, $108,163,245, $5,060,710,284, $4,520,599,809 and $596,821,823, respectively)	$	3,533,290,900		$	111,608,826		$	5,257,404,977		$	4,564,686,181		$	600,436,829
Short-term investments, at value (cost $30,000,000, $1,000,000, $45,000,000, $38,016,030 and $10,809,512, respectively)		30,000,000			1,000,000			45,000,000			38,016,022			10,806,644
Cash		3,696,616			1,600,110			—			13,280,961			2,406,400
Cash collateral at broker for investments in swaps(1)		—			227,286			—			—			—
Consumer price index swaps premiums paid		—			484			—			—			—
Unrealized appreciation on consumer price index swaps		—			35,604			—			—			—
Receivable for:
Interest		47,972,343			1,340,574			64,362,198			51,007,767			6,755,878
Investments sold		7,934,378			425,000			33,236,005			5,011,567			—
Shares sold		8,947,323			333,555			10,807,392			13,624,116			1,119,249
Other assets		419,079			29,669			637,312			385,682			82,835
Total assets		3,632,260,639			116,601,108			5,411,447,884			4,686,012,296			621,607,835
Liabilities
Cash overdraft		—			—			16,545,455			—			—
Floating rate obligations		67,370,000			—			—			—			—
Unrealized depreciation on consumer price index swaps		—			4,439,787			—			—			—
Payable for:
Dividends		2,873,605			14,097			4,231,278			1,937,244			240,539
Investments purchased		26,035,072			1,783,942			8,995,000			51,358,843			6,899,668
Shares redeemed		6,016,495			436,204			5,286,749			6,582,261			3,035,594
Accrued expenses:
Management fees		1,184,186			27,407			1,775,111			1,332,687			206,447
Directors/Trustees fees		362,628			681			600,308			351,651			34,683
12b-1 distribution and service fees		502,091			8,934			183,344			417,151			41,494
Other		614,160			55,837			1,064,171			750,383			139,832
Total liabilities		104,958,237			6,766,889			38,681,416			62,730,220			10,598,257
Net assets	$	3,527,302,402		$	109,834,219		$	5,372,766,468		$	4,623,282,076		$	611,009,578
Class A Shares
Net assets	$	1,286,378,330		$	27,450,421		$	549,853,791		$	1,103,326,652		$	170,223,307
Shares outstanding		110,579,688			2,567,452			59,510,767			100,217,852			16,897,110
Net asset value (“NAV”) per share	$	11.63		$	10.69		$	9.24		$	11.01		$	10.07
Offering price per share (NAV per share plus maximum sales charge of 4.20%, 3.00%, 3.00%, 2.50% and 2.50%, respectively, of offering price)	$	12.14		$	11.02		$	9.53		$	11.29		$	10.33
Class C Shares
Net assets	$	175,313,392		$	1,546,835		$	47,176,336		$	102,063,258		$	9,235,140
Shares outstanding		15,069,019			144,739			5,104,669			9,307,951			918,700
NAV and offering price per share	$	11.63		$	10.69		$	9.24		$	10.97		$	10.05
Class C2 Shares
Net assets	$	237,348,637		$	5,060,453		$	72,591,315		$	326,794,136		$	10,712,822
Shares outstanding		20,400,521			473,227			7,846,608			29,764,548			1,064,444
NAV and offering price per share	$	11.63		$	10.69		$	9.25		$	10.98		$	10.06
Class R6 Shares
Net assets	$	6,212,343		$	—		$	—		$	—		$	—
Shares outstanding		531,736			—			—			—			—
NAV and offering price per share	$	11.68		$	—		$	—		$	—		$	—
Class I Shares
Net assets	$	1,822,049,700		$	75,776,510		$	4,703,145,026		$	3,091,098,030		$	420,838,309
Shares outstanding		155,982,079			7,068,711			507,655,832			281,892,443			41,737,886
NAV and offering price per share	$	11.68		$	10.72		$	9.26		$	10.97		$	10.08
Net assets consist of:
Capital paid-in	$	3,373,831,658		$	115,714,326		$	5,179,760,834		$	4,588,445,818		$	607,318,278
Undistributed (Over-distribution of) net investment income		6,972,291			19,094			12,191,832			6,625,606			741,193
Accumulated net realized gain (loss)		(75,256,397	)		(4,940,599	)		(15,880,891	)		(15,875,712	)		(662,031	)
Net unrealized appreciation (depreciation)		221,727,850			(958,602	)		196,694,693			44,086,364			3,612,138
Net assets	$	3,527,302,402		$	109,834,219		$	5,372,766,468		$	4,623,282,076		$	611,009,578
Authorized shares – per class		Unlimited			Unlimited			Unlimited			Unlimited			2 billion
Par value per share	$	0.01		$	0.01		$	0.001		$	0.01		$	0.0001

(1) Cash pledged to collateralize the net payment obligations for investments in swaps is in addition to the Fund’s securities pledged as collateral as noted in the Fund’s Portfolio of Investments.

See accompanying notes to financial statements.

NUVEEN 209

Statement of

Operations Six Months Ended September 30, 2017 (Unaudited)

	All-American			Inflation Protected			Intermediate Duration		Limited Term		Short Term
Investment Income	$	76,053,413		$	1,481,818		$	94,110,961	$	57,457,577	$	5,432,125
Expenses
Management fees		6,962,106			234,266			10,670,530		8,090,545		1,282,028
12b-1 service fees – Class A Shares		1,217,753			28,374			531,272		1,107,950		182,222
12b-1 distribution and service fees – Class C Shares		846,974			7,419			232,236		541,813		49,475
12b-1 distribution and service fees – Class C2 Shares		933,098			19,290			291,955		967,447		30,913
Shareholder servicing agent fees		732,263			34,759			1,226,531		876,605		110,511
Interest expense		474,107			—			—		—		—
Custodian fees		182,937			24,703			269,826		246,501		101,862
Directors/Trustees fees		51,706			1,725			79,816		70,646		9,678
Professional fees		85,025			20,685			93,272		85,630		28,219
Shareholder reporting expenses		95,098			9,214			180,450		127,341		18,929
Federal and state registration fees		150,235			50,352			110,706		137,000		58,732
Other		45,700			5,750			81,598		94,164		10,104
Total expenses before fee waiver/expense reimbursement		11,777,002			436,537			13,768,192		12,345,642		1,882,673
Fee waiver/expense reimbursement		—			(96,119	)		—		—		—
Net expenses		11,777,002			340,418			13,768,192		12,345,642		1,882,673
Net investment income (loss)		64,276,411			1,141,400			80,342,769		45,111,935		3,549,452
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from investments:
Investments		(907,093	)		(21,872	)		1,190,069		358,859		36,316
Swaps		—			(710	)		—		—		—
Change in net unrealized appreciation (depreciation) of:
Investments		80,864,175			1,939,369			115,470,307		52,296,575		2,161,602
Swaps		—			(1,324,214	)		—		—		—
Net realized and unrealized gain (loss)		79,957,082			592,573			116,660,376		52,655,434		2,197,918
Net increase (decrease) in net assets from operations	$	144,233,493		$	1,733,973		$	197,003,145	$	97,767,369	$	5,747,370

See accompanying notes to financial statements.

210 NUVEEN

Statement of

Changes in Net Assets (Unaudited)

	All-American									Inflation Protected
	Six Months Ended 9/30/17			Eleven Months Ended 3/31/17			Year Ended 4/30/16			Six Months Ended 9/30/17			Eleven Months Ended 3/31/17			Year Ended 4/30/16
Operations
Net investment income (loss)	$	64,276,411		$	109,754,345		$	97,394,761		$	1,141,400		$	1,051,237		$	1,114,018
Net realized gain (loss) from:
Investments		(907,093	)		(18,948,368	)		5,224,271			(21,872	)		(77,951	)		3,608
Futures contracts		—			—			—			—			—			—
Swaps		—			—			—			(710	)		(530,237	)		(861,457	)
Change in net unrealized appreciation (depreciation) of:
Investments		80,864,175			(122,209,365	)		52,524,525			1,939,369			(803,079	)		1,027,350
Swaps		—			—			—			(1,324,214	)		1,562,798			(179,459	)
Net increase (decrease) in net assets from operations		144,233,493			(31,403,388	)		155,143,557			1,733,973			1,202,768			1,104,060
Distributions to Shareholders
From net investment income:
Class A Shares		(21,949,940	)		(41,647,815	)		(39,053,373	)		(298,129	)		(538,208	)		(545,362	)
Class C Shares		(2,395,033	)		(3,965,886	)		(2,207,822	)		(9,694	)		(14,007	)		(19,201	)
Class C2 Shares		(3,780,055	)		(8,241,009	)		(10,127,396	)		(39,694	)		(93,512	)		(133,687	)
Class R6 Shares(1)		(128,636	)		(186,761	)		—			—			—			—
Class I Shares		(32,973,791	)		(54,333,898	)		(47,715,010	)		(753,078	)		(489,993	)		(443,595	)
From accumulated net realized gains:
Class A Shares		—			—			—			—			—			—
Class C Shares		—			—			—			—			—			—
Class C2 Shares		—			—			—			—			—			—
Class R6 Shares(1)		—			—			—			—			—			—
Class I Shares		—			—			—			—			—			—
Decrease in net assets from distributions to shareholders		(61,227,455	)		(108,375,369	)		(99,103,601	)		(1,100,595	)		(1,135,720	)		(1,141,845	)
Fund Share Transactions
Proceeds from sale of shares		497,739,857			1,259,722,294			793,145,702			27,673,750			73,972,211			9,670,740
Proceeds from shares issued to shareholders due to reinvestment of distributions		44,591,218			76,790,471			68,074,039			1,016,910			1,046,198			1,081,857
		542,331,075			1,336,512,765			861,219,741			28,690,660			75,018,409			10,752,597
Cost of shares redeemed		(323,349,858	)		(983,985,170	)		(405,292,419	)		(12,360,786	)		(24,805,289	)		(21,552,502	)
Net increase (decrease) in net assets from Fund share transactions		218,981,217			352,527,595			455,927,322			16,329,874			50,213,120			(10,799,905	)
Net increase (decrease) in net assets		301,987,255			212,748,838			511,967,278			16,963,252			50,280,168			(10,837,690	)
Net assets at the beginning of period		3,225,315,147			3,012,566,309			2,500,599,031			92,870,967			42,590,799			53,428,489
Net assets at the end of period	$	3,527,302,402		$	3,225,315,147		$	3,012,566,309		$	109,834,219		$	92,870,967		$	42,590,799
Undistributed (Over-distribution of) net investment income at the end of period	$	6,972,291		$	3,923,335		$	2,696,684		$	19,094		$	(21,711	)	$	64,009

1 Class R6 Shares for All-American were established on June 30, 2016.

See accompanying notes to financial statements.

NUVEEN 211

Statement of Changes in Net Assets (Unaudited) (continued)

	Intermediate Duration												Limited Term
	Six Months Ended 9/30/17			Eleven Months Ended 3/31/17			Year Ended 4/30/16			Six Months Ended 9/30/17			Eleven Months Ended 3/31/17			Year Ended 4/30/16
Operations
Net investment income (loss)	$	80,342,769		$	139,562,317		$	134,948,487		$	45,111,935		$	77,526,782		$	79,946,662
Net realized gain (loss) from:
Investments		1,190,069			(8,110,898	)		4,569,565			358,859			(3,931,727	)		2,714,425
Futures contracts		—			—			617,735			—			—			—
Swaps		—			—			—			—			—			—
Change in net unrealized appreciation (depreciation) of:
Investments		115,470,307			(211,349,065	)		80,907,551			52,296,575			(126,322,479	)		25,392,818
Swaps		—			—			—			—			—			—
Net increase (decrease) in net assets from operations		197,003,145			(79,897,646	)		221,043,338			97,767,369			(52,727,424	)		108,053,905
Distributions to Shareholders
From net investment income:
Class A Shares		(7,256,184	)		(27,985,894	)		(20,944,763	)		(9,742,001	)		(20,535,108	)		(21,389,495	)
Class C Shares		(453,012	)		(796,069	)		(490,682	)		(512,658	)		(984,833	)		(767,472	)
Class C2 Shares		(860,730	)		(1,928,864	)		(2,384,876	)		(2,430,730	)		(5,530,934	)		(7,246,079	)
Class R6 Shares		—			—			—			—			—			—
Class I Shares		(67,664,878	)		(110,079,083	)		(109,851,125	)		(29,272,062	)		(52,230,761	)		(49,746,560	)
From accumulated net realized gains:
Class A Shares		—			(1,046,205	)		—			—			—			—
Class C Shares		—			(41,639	)		—			—			—			—
Class C2 Shares		—			(83,316	)		—			—			—			—
Class R6 Shares		—			—			—			—			—			—
Class I Shares		—			(3,689,947	)		—			—			—			—
Decrease in net assets from distributions to shareholders		(76,234,804	)		(145,651,017	)		(133,671,446	)		(41,957,451	)		(79,281,636	)		(79,149,606	)
Fund Share Transactions
Proceeds from sale of shares		610,271,720			2,121,948,192			1,634,898,252			653,238,179			2,254,821,137			1,619,746,263
Proceeds from shares issued to shareholders due to reinvestment of distributions		51,198,966			96,724,626			86,140,928			30,327,102			55,429,294			53,543,471
		661,470,686			2,218,672,818			1,721,039,180			683,565,281			2,310,250,431			1,673,289,734
Cost of shares redeemed		(531,648,856	)		(2,063,831,985	)		(1,093,585,011	)		(718,420,329	)		(2,081,012,574	)		(1,167,892,771	)
Net increase (decrease) in net assets from Fund share transactions		129,821,830			154,840,833			627,454,169			(34,855,048	)		229,237,857			505,396,963
Net increase (decrease) in net assets		250,590,171			(70,707,830	)		714,826,061			20,954,870			97,228,797			534,301,262
Net assets at the beginning of period		5,122,176,297			5,192,884,127			4,478,058,066			4,602,327,206			4,505,098,409			3,970,797,147
Net assets at the end of period	$	5,372,766,468		$	5,122,176,297		$	5,192,884,127		$	4,623,282,076		$	4,602,327,206		$	4,505,098,409
Undistributed (Over-distribution of) net investment income at the end of period	$	12,191,832		$	8,083,867		$	9,476,392		$	6,625,606		$	3,471,122		$	5,295,771

See accompanying notes to financial statements.

212 NUVEEN

	Short Term
	Six Months Ended 9/30/17			Eleven Months Ended 3/31/17			Year Ended 4/30/16
Operations
Net investment income (loss)	$	3,549,452		$	6,401,387		$	7,396,872
Net realized gain (loss) from:
Investments		36,316			(68,245	)		(325,327	)
Futures contracts		—			—			—
Swaps		—			—			—
Change in net unrealized appreciation (depreciation) of:
Investments		2,161,602			(4,831,090	)		708,617
Swaps		—			—			—
Net increase (decrease) in net assets from operations		5,747,370			1,502,052			7,780,162
Distributions to Shareholders
From net investment income:
Class A Shares		(865,138	)		(1,658,567	)		(1,597,461	)
Class C Shares		(8,841	)		(14,338	)		(16,789	)
Class C2 Shares		(33,424	)		(68,591	)		(86,239	)
Class R6 Shares		—			—			—
Class I Shares		(2,392,377	)		(4,461,060	)		(5,170,312	)
From accumulated net realized gains:
Class A Shares		—			—			—
Class C Shares		—			—			—
Class C2 Shares		—			—			—
Class R6 Shares		—			—			—
Class I Shares		—			—			—
Decrease in net assets from distributions to shareholders		(3,299,780	)		(6,202,556	)		(6,870,801	)
Fund Share Transactions
Proceeds from sale of shares		90,417,083			433,191,112			251,309,993
Proceeds from shares issued to shareholders due to reinvestment of distributions		1,791,356			3,346,466			3,366,594
		92,208,439			436,537,578			254,676,587
Cost of shares redeemed		(123,422,954	)		(441,460,355	)		(326,957,476	)
Net increase (decrease) in net assets from Fund share transactions		(31,214,515	)		(4,922,777	)		(72,280,889	)
Net increase (decrease) in net assets		(28,766,925	)		(9,623,281	)		(71,371,528	)
Net assets at the beginning of period		639,776,503			649,399,784			720,771,312
Net assets at the end of period	$	611,009,578		$	639,776,503		$	649,399,784
Undistributed (Over-distribution of) net investment income at the end of period	$	741,193		$	491,521		$	292,690

See accompanying notes to financial statements.

NUVEEN 213

Financial

Highlights (Unaudited)

All-American

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Class (Commencement Date)	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains		Total			Ending NAV
Class A (10/88)
Year Ended 3/31:
2018(i)	$	11.34	$	0.22	$	0.28		$	0.50		$	(0.21	)	$	—	$	(0.21	)	$	11.63
2017(h)		11.80		0.39		(0.46	)		(0.07	)		(0.39	)		—		(0.39	)		11.34
Year Ended 4/30:
2016		11.57		0.43		0.23			0.66			(0.43	)		—		(0.43	)		11.80
2015		11.23		0.46		0.36			0.82			(0.48	)		—		(0.48	)		11.57
2014		11.76		0.49		(0.56	)		(0.07	)		(0.46	)		—		(0.46	)		11.23
2013		11.36		0.47		0.41			0.88			(0.48	)		—		(0.48	)		11.76
2012		10.24		0.54		1.13			1.67			(0.55	)		—		(0.55	)		11.36
Class C (2/14)
Year Ended 3/31:
2018(i)		11.35		0.17		0.27			0.44			(0.16	)		—		(0.16	)		11.63
2017(h)		11.80		0.31		(0.46	)		(0.15	)		(0.30	)		—		(0.30	)		11.35
Year Ended 4/30:
2016		11.58		0.33		0.23			0.56			(0.34	)		—		(0.34	)		11.80
2015		11.24		0.36		0.37			0.73			(0.39	)		—		(0.39	)		11.58
2014(e)		10.99		0.02		0.32			0.34			(0.09	)		—		(0.09	)		11.24
Class C2 (6/93)(f)
Year Ended 3/31:
2018(i)		11.35		0.19		0.27			0.46			(0.18	)		—		(0.18	)		11.63
2017(h)		11.80		0.33		(0.45	)		(0.12	)		(0.33	)		—		(0.33	)		11.35
Year Ended 4/30:
2016		11.58		0.36		0.23			0.59			(0.37	)		—		(0.37	)		11.80
2015		11.24		0.40		0.36			0.76			(0.42	)		—		(0.42	)		11.58
2014		11.76		0.43		(0.55	)		(0.12	)		(0.40	)		—		(0.40	)		11.24
2013		11.37		0.40		0.41			0.81			(0.42	)		—		(0.42	)		11.76
2012		10.24		0.48		1.14			1.62			(0.49	)		—		(0.49	)		11.37
Class R6 (6/16)
Year Ended 3/31:
2018(i)		11.39		0.23		0.28			0.51			(0.22	)		—		(0.22	)		11.68
2017(g)		12.09		0.34		(0.71	)		(0.37	)		(0.33	)		—		(0.33	)		11.39
Class I (2/97)
Year Ended 3/31:
2018(i)		11.39		0.23		0.28			0.51			(0.22	)		—		(0.22	)		11.68
2017(h)		11.85		0.41		(0.46	)		(0.05	)		(0.41	)		—		(0.41	)		11.39
Year Ended 4/30:
2016		11.62		0.45		0.24			0.69			(0.46	)		—		(0.46	)		11.85
2015		11.28		0.49		0.35			0.84			(0.50	)		—		(0.50	)		11.62
2014		11.80		0.51		(0.55	)		(0.04	)		(0.48	)		—		(0.48	)		11.28
2013		11.40		0.49		0.41			0.90			(0.50	)		—		(0.50	)		11.80
2012		10.28		0.55		1.14			1.69			(0.57	)		—		(0.57	)		11.40

214 NUVEEN

			Ratios/Supplemental Data
					Ratios to Average Net Assets
Total Return(b)			Ending Net Assets (000)		Expenses Including Interest(c)			Expenses Excluding Interest			Net Investment Income (Loss)			Portfolio Turnover Rate(d)
	4.42	%	$	1,286,378		0.72	%*		0.69	%*		3.78	%*		10	%
	(0.66	)		1,136,311		0.73	*		0.70	*		3.66	*		24
	5.85			1,170,705		0.70			0.70			3.68			13
	7.38			989,477		0.71			0.71			4.01			18
	(0.42	)		907,137		0.72			0.72			4.46			13
	7.83			1,230,356		0.72			0.72			4.01			17
	16.68			969,745		0.78			0.77			4.98			18
	3.93			175,313		1.52	*		1.49	*		2.98	*		10
	(1.38	)		163,496		1.52	*		1.49	*		2.87	*		24
	5.04			116,024		1.50			1.50			2.86			13
	6.54			48,472		1.51			1.51			3.09			18
	3.06			4,923		1.50	*		1.50	*		3.39	*		13
	4.04			237,349		1.27	*		1.24	*		3.24	*		10
	(1.07	)		264,617		1.28	*		1.25	*		3.11	*		24
	5.22			308,100		1.25			1.25			3.13			13
	6.82			328,649		1.26			1.26			3.47			18
	(0.90	)		353,220		1.27			1.27			3.91			13
	7.17			494,747		1.27			1.27			3.45			17
	16.14			361,364		1.33			1.32			4.43			18
	4.51			6,212		0.49	*		0.46	*		4.02	*		10
	(3.04	)		6,674		0.49	*		0.46	*		3.95	*		24
	4.51			1,822,050		0.52	*		0.49	*		3.98	*		10
	(0.47	)		1,654,217		0.53	*		0.50	*		3.86	*		24
	6.05			1,417,738		0.50			0.50			3.88			13
	7.57			1,134,001		0.51			0.51			4.21			18
	(0.14	)		962,101		0.52			0.52			4.66			13
	8.03			1,283,660		0.52			0.52			4.22			17
	16.71			1,120,747		0.56			0.55			5.13			18

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.

(e) For the period February 10, 2014 (commencement of operations) through April 30, 2014.

(f) Formerly Class C Shares and renamed to Class C2 Shares on February 10, 2014.

(g) For the period June 30, 2016 (commencement of operations) through March 31, 2017.

(h) For the eleven months ended March 31, 2017.

(i) For the six months ended September 30, 2017.

* Annualized.

See accompanying notes to financial statements.

NUVEEN 215

Financial Highlights (Unaudited)(continued)

Inflation Protected

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Class (Commencement Date)	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains			Total			Ending NAV
Class A (3/11)
Year Ended 3/31:
2018(h)	$	10.62	$	0.11	$	0.07		$	0.18		$	(0.11	)	$	—		$	(0.11	)	$	10.69
2017(g)		10.66		0.22		(0.02	)		0.20			(0.24	)		—			(0.24	)		10.62
Year Ended 4/30:
2016		10.63		0.26		0.03			0.29			(0.26	)		—			(0.26	)		10.66
2015		10.77		0.27		(0.14	)		0.13			(0.27	)		—			(0.27	)		10.63
2014		11.31		0.26		(0.55	)		(0.29	)		(0.25	)		—			(0.25	)		10.77
2013		11.01		0.24		0.35			0.59			(0.28	)		(0.01	)		(0.29	)		11.31
2012		10.36		0.33		0.66			0.99			(0.34	)		—			(0.34	)		11.01
Class C (2/14)
Year Ended 3/31:
2018(h)		10.62		0.07		0.07			0.14			(0.07	)		—			(0.07	)		10.69
2017(g)		10.66		0.14		(0.02	)		0.12			(0.16	)		—			(0.16	)		10.62
Year Ended 4/30:
2016		10.62		0.17		0.04			0.21			(0.17	)		—			(0.17	)		10.66
2015		10.76		0.18		(0.14	)		0.04			(0.18	)		—			(0.18	)		10.62
2014(e)		10.61		0.02		0.17			0.19			(0.04	)		—			(0.04	)		10.76
Class C2 (3/11)(f)
Year Ended 3/31:
2018(h)		10.62		0.09		0.06			0.15			(0.08	)		—			(0.08	)		10.69
2017(g)		10.66		0.17		(0.03	)		0.14			(0.18	)		—			(0.18	)		10.62
Year Ended 4/30:
2016		10.62		0.20		0.04			0.24			(0.20	)		—			(0.20	)		10.66
2015		10.76		0.21		(0.14	)		0.07			(0.21	)		—			(0.21	)		10.62
2014		11.30		0.21		(0.57	)		(0.36	)		(0.18	)		—			(0.18	)		10.76
2013		11.00		0.18		0.35			0.53			(0.22	)		(0.01	)		(0.23	)		11.30
2012		10.36		0.27		0.66			0.93			(0.29	)		—			(0.29	)		11.00
Class I (3/11)
Year Ended 3/31:
2018(h)		10.65		0.13		0.06			0.19			(0.12	)		—			(0.12	)		10.72
2017(g)		10.69		0.23		(0.02	)		0.21			(0.25	)		—			(0.25	)		10.65
Year Ended 4/30:
2016		10.64		0.28		0.05			0.33			(0.28	)		—			(0.28	)		10.69
2015		10.78		0.29		(0.15	)		0.14			(0.28	)		—			(0.28	)		10.64
2014		11.32		0.29		(0.57	)		(0.28	)		(0.26	)		—			(0.26	)		10.78
2013		11.01		0.26		0.36			0.62			(0.30	)		(0.01	)		(0.31	)		11.32
2012		10.37		0.35		0.65			1.00			(0.36	)		—			(0.36	)		11.01

216 NUVEEN

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Investment Income (Loss)			Expenses			Net Investment Income (Loss)			Portfolio Turnover Rate(d)
	1.72	%	$	27,450		0.95	%*		1.96	%*		0.76	%*		2.15	%*		2	%
	1.87			27,684		1.07	*		1.94	*		0.76	*		2.25	*		11
	2.83			21,289		1.05			2.15			0.77			2.44			1
	1.14			24,104		0.99			2.26			0.77			2.48			20
	(2.53	)		28,862		0.96			2.29			0.77			2.49			19
	5.39			61,926		1.01			1.87			0.77			2.11			9
	9.74			7,339		1.46			2.44			0.78			3.13			14
	1.33			1,547		1.75	*		1.16	*		1.56	*		1.35	*		2
	1.10			1,292		1.87	*		1.13	*		1.56	*		1.44	*		11
	2.05			956		1.85			1.36			1.57			1.64			1
	0.31			1,344		1.80			1.41			1.57			1.65			20
	1.79			238		1.69	*		1.66	*		1.59	*		1.75	*		19
	1.44			5,060		1.50	*		1.41	*		1.31	*		1.60	*		2
	1.35			5,179		1.63	*		1.39	*		1.31	*		1.71	*		11
	2.34			5,827		1.60			1.61			1.32			1.90			1
	0.59			7,697		1.54			1.72			1.32			1.94			20
	(3.10	)		10,221		1.52			1.76			1.32			1.96			19
	4.81			15,064		1.57			1.33			1.32			1.58			9
	9.07			4,209		2.03			1.87			1.33			2.57			14
	1.81			75,777		0.75	*		2.16	*		0.56	*		2.35	*		2
	2.03			58,716		0.86	*		2.11	*		0.56	*		2.40	*		11
	3.19			14,519		0.85			2.35			0.57			2.64			1
	1.31			20,284		0.78			2.46			0.57			2.68			20
	(2.36	)		24,960		0.77			2.52			0.57			2.72			19
	5.65			35,046		0.82			2.10			0.57			2.35			9
	9.82			6,704		1.22			2.64			0.58			3.28			14

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information.

(d) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.

(e) For the period February 10, 2014 (commencement of operations) through April 30, 2014.

(f) Formerly Class C Shares and renamed to Class C2 Shares on February 10, 2014.

(g) For the eleven months ended March 31, 2017.

(h) For the six months ended September 30, 2017.

* Annualized.

See accompanying notes to financial statements.

NUVEEN 217

Financial Highlights (Unaudited)(continued)

Intermediate Duration

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Class (Commencement Date)	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain (Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains			Total			Ending NAV
Class A (6/95)
Year Ended 3/31:
2018(i)	$	9.03	$	0.13	$	0.21		$	0.34		$	(0.13	)	$	—		$	(0.13	)	$	9.24
2017(h)		9.40		0.23		(0.36	)		(0.13	)		(0.23	)		(0.01	)		(0.24	)		9.03
Year Ended 4/30:
2016		9.22		0.26		0.18			0.44			(0.26	)		—			(0.26	)		9.40
2015		9.13		0.26		0.10			0.36			(0.27	)		—			(0.27	)		9.22
2014		9.38		0.29		(0.26	)		0.03			(0.28	)		—			(0.28	)		9.13
2013		9.25		0.30		0.14			0.44			(0.31	)		—			(0.31	)		9.38
2012		8.84		0.34		0.42			0.76			(0.35	)		—			(0.35	)		9.25
Class C (2/14)
Year Ended 3/31:
2018(i)		9.03		0.10		0.20			0.30			(0.09	)		—			(0.09	)		9.24
2017(h)		9.40		0.16		(0.35	)		(0.19	)		(0.17	)		(0.01	)		(0.18	)		9.03
Year Ended 4/30:
2016		9.23		0.18		0.18			0.36			(0.19	)		—			(0.19	)		9.40
2015		9.14		0.19		0.10			0.29			(0.20	)		—			(0.20	)		9.23
2014(f)		9.05		0.01		0.12			0.13			(0.04	)		—			(0.04	)		9.14
Class C2 (6/95)(g)
Year Ended 3/31:
2018(i)		9.04		0.11		0.20			0.31			(0.10	)		—			(0.10	)		9.25
2017(h)		9.41		0.18		(0.35	)		(0.17	)		(0.19	)		(0.01	)		(0.20	)		9.04
Year Ended 4/30:
2016		9.24		0.21		0.17			0.38			(0.21	)		—			(0.21	)		9.41
2015		9.15		0.22		0.09			0.31			(0.22	)		—			(0.22	)		9.24
2014		9.41		0.24		(0.27	)		(0.03	)		(0.23	)		—			(0.23	)		9.15
2013		9.27		0.25		0.15			0.40			(0.26	)		—			(0.26	)		9.41
2012		8.87		0.29		0.41			0.70			(0.30	)		—			(0.30	)		9.27
Class I (11/76)
Year Ended 3/31:
2018(i)		9.05		0.14		0.21			0.35			(0.14	)		—			(0.14	)		9.26
2017(h)		9.42		0.25		(0.36	)		(0.11	)		(0.25	)		(0.01	)		(0.26	)		9.05
Year Ended 4/30:
2016		9.25		0.28		0.17			0.45			(0.28	)		—			(0.28	)		9.42
2015		9.16		0.28		0.10			0.38			(0.29	)		—			(0.29	)		9.25
2014		9.41		0.31		(0.26	)		0.05			(0.30	)		—			(0.30	)		9.16
2013		9.27		0.32		0.15			0.47			(0.33	)		—			(0.33	)		9.41
2012		8.86		0.36		0.41			0.77			(0.36	)		—			(0.36	)		9.27

218 NUVEEN

			Ratios/Supplemental Data
					Ratios to Average Net Assets(c)
Total Return(b)			Ending Net Assets (000)		Expenses Including Interest(d)			Expenses Excluding Interest			Net Investment Income (Loss)			Portfolio Turnover Rate(e)
	3.73	%	$	549,854		0.68	%*		0.68	%*		2.88	%*		8	%
	(1.40	)		505,589		0.69	*		0.69	*		2.70	*		24
	4.83			1,076,822		0.68			0.68			2.77			18
	3.95			773,091		0.70			0.70			2.86			19
	0.39			876,456		0.70			0.70			3.20			17
	4.83			512,139		0.70			0.70			3.24			15
	8.68			450,036		0.72			0.72			3.70			10
	3.33			47,176		1.48	*		1.48	*		2.08	*		8
	(2.10	)		45,483		1.49	*		1.49	*		1.91	*		24
	3.91			35,070		1.48			1.48			1.99			18
	3.14			17,706		1.50			1.50			2.03			19
	1.49			2,412		1.49	*		1.49	*		2.17	*		17
	3.46			72,591		1.23	*		1.23	*		2.33	*		8
	(1.86	)		85,193		1.24	*		1.24	*		2.16	*		24
	4.17			101,168		1.24			1.24			2.28			18
	3.40			112,700		1.25			1.25			2.32			19
	(0.25	)		126,951		1.25			1.25			2.65			17
	4.39			158,004		1.25			1.25			2.69			15
	7.96			134,478		1.27			1.27			3.14			10
	3.83			4,703,145		0.48	*		0.48	*		3.08	*		8
	(1.22	)		4,485,912		0.49	*		0.49	*		2.91	*		24
	4.91			3,979,824		0.49			0.49			3.02			18
	4.14			3,574,561		0.50			0.50			3.07			19
	0.59			3,210,180		0.50			0.50			3.40			17
	5.13			3,520,696		0.50			0.50			3.44			15
	8.87			3,039,743		0.52			0.52			3.91			10

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized.

(c) The Fund has a fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee waiver/expense reimbursement during the periods presented herein. See Note 7 – Management Fees and Other Transactions with Affiliates, Management Fees for more information.

(d) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.

(f) For the period February 10, 2014 (commencement of operations) through April 30, 2014.

(g) Formerly Class C Shares and renamed to Class C2 Shares on February 10, 2014.

(h) For the eleven months ended March 31, 2017.

(i) For the six months ended September 30, 2017.

* Annualized.

See accompanying notes to financial statements.

NUVEEN 219

Financial Highlights (Unaudited)(continued)

Limited Term

Selected data for a share outstanding throughout each period:

			Investment Operations								Less Distributions
Class (Commencement Date)	Beginning NAV		Net Investment Income (Loss)(a)		Net Realized/ Unrealized Gain(Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains		Total			Ending NAV
Class A (10/87)
Year Ended 3/31:
2018(i)	$	10.88	$	0.10	$	0.13		$	0.23		$	(0.10	)	$	—	$	(0.10	)	$	11.01
2017(h)		11.17		0.17		(0.28	)		(0.11	)		(0.18	)		—		(0.18	)		10.88
Year Ended 4/30:
2016		11.10		0.20		0.08			0.28			(0.21	)		—		(0.21	)		11.17
2015		11.12		0.21		(0.02	)		0.19			(0.21	)		—		(0.21	)		11.10
2014		11.27		0.22		(0.16	)		0.06			(0.21	)		—		(0.21	)		11.12
2013		11.20		0.24		0.07			0.31			(0.24	)		—		(0.24	)		11.27
2012		10.85		0.29		0.34			0.63			(0.28	)		—		(0.28	)		11.20
Class C (2/14)
Year Ended 3/31:
2018(i)		10.83		0.06		0.13			0.19			(0.05	)		—		(0.05	)		10.97
2017(h)		11.12		0.09		(0.28	)		(0.19	)		(0.10	)		—		(0.10	)		10.83
Year Ended 4/30:
2016		11.06		0.12		0.07			0.19			(0.13	)		—		(0.13	)		11.12
2015		11.08		0.15		(0.02	)		0.13			(0.15	)		—		(0.15	)		11.06
2014(f)		11.06		0.01		0.04			0.05			(0.03	)		—		(0.03	)		11.08
Class C2 (12/95)(g)
Year Ended 3/31:
2018(i)		10.85		0.08		0.13			0.21			(0.08	)		—		(0.08	)		10.98
2017(h)		11.13		0.14		(0.28	)		(0.14	)		(0.14	)		—		(0.14	)		10.85
Year Ended 4/30:
2016		11.06		0.17		0.06			0.23			(0.16	)		—		(0.16	)		11.13
2015		11.08		0.17		(0.02	)		0.15			(0.17	)		—		(0.17	)		11.06
2014		11.23		0.18		(0.16	)		0.02			(0.17	)		—		(0.17	)		11.08
2013		11.15		0.20		0.08			0.28			(0.20	)		—		(0.20	)		11.23
2012		10.81		0.25		0.34			0.59			(0.25	)		—		(0.25	)		11.15
Class I (2/97)
Year Ended 3/31:
2018(i)		10.83		0.11		0.14			0.25			(0.11	)		—		(0.11	)		10.97
2017(h)		11.12		0.19		(0.28	)		(0.09	)		(0.20	)		—		(0.20	)		10.83
Year Ended 4/30:
2016		11.05		0.23		0.06			0.29			(0.22	)		—		(0.22	)		11.12
2015		11.06		0.23		(0.01	)		0.22			(0.23	)		—		(0.23	)		11.05
2014		11.21		0.24		(0.16	)		0.08			(0.23	)		—		(0.23	)		11.06
2013		11.13		0.26		0.08			0.34			(0.26	)		—		(0.26	)		11.21
2012		10.79		0.31		0.33			0.64			(0.30	)		—		(0.30	)		11.13

220 NUVEEN

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement									Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses Including Interest(d)			Expenses Excluding Interest			Net Investment Income (Loss)			Expenses Including Interest(d)			Expenses Excluding Interest			Net Investment Income (Loss)			Portfolio Turnover Rate(e)
	2.09	%	$	1,103,327		0.62	%*		0.62	%*		1.87	%*		0.62	%*		0.62	%*		1.87	%*		11	%
	(0.99	)		1,094,434		0.63	*		0.63	*		1.72	*		0.63	*		0.63	*		1.72	*		26
	2.50			1,208,642		0.63			0.63			1.84			0.63			0.63			1.84			20
	1.72			1,168,646		0.64			0.64			1.89			0.64			0.64			1.89			20
	0.55			1,279,131		0.65			0.65			1.99			0.65			0.65			1.99			20
	2.79			1,438,077		0.66			0.66			2.10			0.66			0.66			2.10			12
	5.88			1,113,802		0.66			0.66			2.63			0.66			0.66			2.63			12
	1.77			102,063		1.42	*		1.42	*		1.08	*		1.42	*		1.42	*		1.08	*		11
	(1.74	)		112,035		1.43	*		1.43	*		0.92	*		1.43	*		1.43	*		0.92	*		26
	1.71			90,330		1.43			1.43			1.04			1.36			1.36			1.11			20
	1.18			51,973		1.43			1.43			1.07			1.18			1.18			1.32			20
	0.49			9,695		1.43	*		1.43	*		1.10	*		1.18	*		1.18	*		1.35	*		20
	1.90			326,794		0.97	*		0.97	*		1.53	*		0.97	*		0.97	*		1.53	*		11
	(1.25	)		383,282		0.98	*		0.98	*		1.37	*		0.98	*		0.98	*		1.37	*		26
	2.12			461,558		0.98			0.98			1.50			0.98			0.98			1.50			20
	1.34			528,287		0.99			0.99			1.54			0.99			0.99			1.54			20
	0.17			623,242		1.00			1.00			1.64			1.00			1.00			1.64			20
	2.51			721,302		1.01			1.01			1.76			1.01			1.01			1.76			12
	5.45			641,602		1.01			1.01			2.29			1.01			1.01			2.29			12
	2.28			3,091,098		0.42	*		0.42	*		2.07	*		0.42	*		0.42	*		2.07	*		11
	(0.85	)		3,012,577		0.43	*		0.43	*		1.92	*		0.43	*		0.43	*		1.92	*		26
	2.68			2,744,568		0.43			0.43			2.04			0.43			0.43			2.04			20
	1.99			2,221,891		0.44			0.44			2.09			0.44			0.44			2.09			20
	0.72			1,781,216		0.45			0.45			2.19			0.45			0.45			2.19			20
	3.07			1,549,809		0.46			0.46			2.31			0.46			0.46			2.31			12
	6.00			1,196,319		0.46			0.46			2.83			0.46			0.46			2.83			12

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable. During the fiscal years ended April 30, 2014 through April 30, 2016, the Adviser agreed to waive 0.25% of the 12b-1 distribution and/or service fees for Class C Shares through August 31, 2015. After August 31, 2015, the Adviser is no longer waiving fees or reimbursing expenses for Class C Shares.

(d) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.

(f) For the period February 10, 2014 (commencement of operations) through April 30, 2014.

(g) Formerly Class C Shares and renamed to Class C2 Shares on February 10, 2014.

(h) For the eleven months ended March 31, 2017.

(i) For the six months ended September 30, 2017.

* Annualized.

See accompanying notes to financial statements.

NUVEEN 221

Financial Highlights (Unaudited)(continued)

Short Term

Selected data for a share outstanding throughout each period:

			Investment Operations									Less Distributions
Class (Commencement Date)	Beginning NAV		Net Investment Income (Loss)(a)			Net Realized/ Unrealized Gain(Loss)			Total			From Net Investment Income			From Accumulated Net Realized Gains		Total			Ending NAV
Class A (10/02)
Year Ended 3/31:
2018(i)	$	10.04	$	0.05		$	0.03		$	0.08		$	(0.05	)	$	—	$	(0.05	)	$	10.07
2017(h)		10.12		0.09			(0.08	)		0.01			(0.09	)		—		(0.09	)		10.04
Year Ended 4/30:
2016		10.11		0.10			—	**		0.10			(0.09	)		—		(0.09	)		10.12
2015		10.15		0.10			(0.04	)		0.06			(0.10	)		—		(0.10	)		10.11
2014		10.20		0.12			(0.05	)		0.07			(0.12	)		—		(0.12	)		10.15
2013		10.19		0.15			0.04			0.19			(0.18	)		—		(0.18	)		10.20
2012		9.98		0.20			0.21			0.41			(0.20	)		—		(0.20	)		10.19
Class C (2/14)
Year Ended 3/31:
2018(i)		10.02		0.01			0.03			0.04			(0.01	)		—		(0.01	)		10.05
2017(h)		10.11		0.02			(0.09	)		(0.07	)		(0.02	)		—		(0.02	)		10.02
Year Ended 4/30:
2016		10.10		0.03			0.01			0.04			(0.03	)		—		(0.03	)		10.11
2015		10.14		0.06			(0.04	)		0.02			(0.06	)		—		(0.06	)		10.10
2014(f)		10.15		—	**		0.01			0.01			(0.02	)		—		(0.02	)		10.14
Class C2 (8/11)(g)
Year Ended 3/31:
2018(i)		10.03		0.03			0.03			0.06			(0.03	)		—		(0.03	)		10.06
2017(h)		10.11		0.06			(0.08	)		(0.02	)		(0.06	)		—		(0.06	)		10.03
Year Ended 4/30:
2016		10.10		0.06			0.01			0.07			(0.06	)		—		(0.06	)		10.11
2015		10.14		0.06			(0.04	)		0.02			(0.06	)		—		(0.06	)		10.10
2014		10.18		0.08			(0.03	)		0.05			(0.09	)		—		(0.09	)		10.14
2013		10.18		0.11			0.03			0.14			(0.14	)		—		(0.14	)		10.18
2012(d)		10.13		0.10			0.06			0.16			(0.11	)		—		(0.11	)		10.18
Class I (10/02)
Year Ended 3/31:
2018(i)		10.04		0.06			0.04			0.10			(0.06	)		—		(0.06	)		10.08
2017(h)		10.13		0.11			(0.10	)		0.01			(0.10	)		—		(0.10	)		10.04
Year Ended 4/30:
2016		10.11		0.12			0.01			0.13			(0.11	)		—		(0.11	)		10.13
2015		10.15		0.12			(0.04	)		0.08			(0.12	)		—		(0.12	)		10.11
2014		10.20		0.14			(0.05	)		0.09			(0.14	)		—		(0.14	)		10.15
2013		10.19		0.18			0.03			0.21			(0.20	)		—		(0.20	)		10.20
2012		9.98		0.23			0.20			0.43			(0.22	)		—		(0.22	)		10.19

222 NUVEEN

			Ratios/Supplemental Data
					Ratios to Average Net Assets Before Waiver/Reimbursement						Ratios to Average Net Assets After Waiver/Reimbursement(c)
Total Return(b)			Ending Net Assets (000)		Expenses			Net Investment Income (Loss)			Expenses			Net Investment Income (Loss)			Portfolio Turnover Rate(e)
	0.78	%	$	170,223		0.72	%*		1.01	%*		0.72	%*		1.01	%*		14	%
	0.08			187,573		0.71	*		0.97	*		0.71	*		0.97	*		44
	1.01			174,484		0.71			0.97			0.71			0.97			24
	0.57			184,317		0.71			0.97			0.71			0.97			36
	0.74			201,145		0.71			1.16			0.71			1.16			35
	1.88			101,836		0.73			1.49			0.73			1.49			30
	4.15			34,793		0.73			2.01			0.73			2.01			39
	0.39			9,235		1.52	*		0.22	*		1.52	*		0.22	*		14
	(0.73	)		10,069		1.51	*		0.17	*		1.51	*		0.17	*		44
	0.41			6,971		1.51			0.17			1.38			0.30			24
	0.22			4,615		1.50			0.16			1.05			0.61			36
	0.08			822		1.57	*		0.18	*		1.08	*		0.63	*		35
	0.60			10,713		1.07	*		0.66	*		1.07	*		0.66	*		14
	(0.25	)		12,097		1.06	*		0.62	*		1.06	*		0.62	*		44
	0.65			13,325		1.06			0.62			1.06			0.62			24
	0.22			16,524		1.06			0.63			1.06			0.63			36
	0.48			28,134		1.06			0.82			1.06			0.82			35
	1.42			10,618		1.08			1.10			1.08			1.10			30
	1.61			1,026		1.07	*		1.49	*		1.07	*		1.49	*		39
	0.97			420,838		0.52	*		1.21	*		0.52	*		1.21	*		14
	0.14			430,038		0.51	*		1.17	*		0.51	*		1.17	*		44
	1.29			454,620		0.51			1.16			0.51			1.16			24
	0.75			515,315		0.50			1.17			0.50			1.17			36
	0.92			497,363		0.51			1.37			0.51			1.37			35
	2.06			383,339		0.53			1.74			0.53			1.74			30
	4.33			304,109		0.53			2.27			0.53			2.27			39

(a) Per share Net Investment Income (Loss) is calculated using the average daily shares method.

(b) Total return is the combination of changes in NAV without any sales charge, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. Total returns are not annualized.

(c) After fee waiver and/or expense reimbursement from the Adviser, where applicable. During the fiscal years ended April 30, 2014 through April 30, 2016, the Advisor agreed to waive 0.45% of the 12b-1 distribution and/or service fees for Class C Shares through August 31, 2015. After August 31, 2015, the Adviser is no longer waiving fees or reimbursing expenses for Class C Shares.

(d) For the period August 31, 2011 (commencement of operations) through April 30, 2012.

(e) Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.

(f) For the period February 10, 2014 (commencement of operations) through April 30, 2014.

(g) Formerly Class C Shares and renamed to Class C2 Shares on February 10, 2014.

(h) For the eleven months ended March 31, 2017.

(i) For the six months ended September 30, 2017.

* Annualized.

** Rounds to less than $0.01 per share.

See accompanying notes to financial statements.

NUVEEN 223

Notes to

Financial Statements(Unaudited)

1. General Information and Significant Accounting Policies

General Information

Trust and Fund Information

Nuveen Municipal Trust and Nuveen Investment Funds, Inc. (each a “Trust” and collectively, the “Trusts”), are open-end management investment companies registered under the Investment Company Act of 1940, as amended. Nuveen Municipal Trust is comprised of Nuveen All-American Municipal Bond Fund (“All-American”), Nuveen Inflation Protected Municipal Bond Fund (“Inflation Protected”), Nuveen Intermediate Duration Municipal Bond Fund (“Intermediate Duration”) and Nuveen Limited Term Municipal Bond Fund (“Limited Term”), among others, and Nuveen Investment Funds, Inc. is comprised of Nuveen Short Term Municipal Bond Fund (“Short Term”), among others, (each a “Fund” and collectively, the “Funds”), as diversified funds. Nuveen Municipal Trust was organized as a Massachusetts business trust on July 1, 1996. Nuveen Investment Funds, Inc. was incorporated in the State of Maryland on August 20, 1987. The Funds, with the exception of Inflation Protected, were each organized as a series of predecessor trusts or corporations prior to that date.

The end of the reporting period for the Funds is September 30, 2017, and the period covered by these Notes to Financial Statements is the six months ended September 30, 2017 (the “current fiscal period”).

Investment Adviser

The Funds’ investment adviser is Nuveen Fund Advisors, LLC (the “Adviser”), a subsidiary of Nuveen, LLC (“Nuveen”). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds’ portfolios, manages the Funds’ business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the “Sub-Adviser”), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.

Investment Objectives

All-American’s, Intermediate Duration’s and Limited Term’s investment objective is to provide as high a level of current interest income exempt from regular federal income taxes as is consistent with preservation of capital. Inflation Protected’s investment objective is to provide after-tax total return, protected from inflation, through a combination of federally tax-exempt income and inflation-linked investments. Short Term’s investment objective is to provide current income that is exempt from federal income tax to the extent consistent with preservation of capital.

The Funds’ most recent prospectus provides further descriptions of each Fund’s investment objective, principal investment strategies, and principal risks.

Significant Accounting Policies

Each Fund is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946 “Financial Services – Investment Companies.” The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Investment Transactions

Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have earmarked securities in their portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments.

As of the end of the reporting period, the Funds’ outstanding when-issued/delayed delivery purchase commitments were as follows:

	All-American		Intermediate Duration		Limited Term		Short Term
Outstanding when-issued/delayed delivery purchase commitments	$	26,035,072	$	8,995,000	$	51,358,843	$	499,535

Investment Income

Dividend income is recorded on the ex-dividend date. Non-cash dividends received in the form of stock, if any, are recognized on the ex-dividend date and recorded at fair value. Investment Income, is comprised of interest income, which reflects the amortization of premiums and includes accretion of

224 NUVEEN

discounts for financial reporting purposes, and is recorded on an accrual basis. Investment Income also reflects payment-in-kind (“PIK”) interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash.

Professional Fees

Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders. If a refund is received for workout expenditures paid in a prior reporting period, such amounts will be recognized as “Legal fee refund” on the Statement of Operations.

Dividends and Distributions to Shareholders

Dividends from net investment income are declared daily and distributed to shareholders monthly. Fund shares begin to accrue dividends on the business day after the day when the monies used to purchase Fund shares are collected by the transfer agent.

Net realized capital gains and/or market discount from investment transactions, if any, are declared and distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carryforwards.

Distributions to shareholders of net investment income, net realized capital gains and/or market discount, if any, are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Share Classes and Sales Charges

Class A Shares are generally sold with an up-front sales charge and incur a 0.20% annual 12b-1 service fee. Class A Share purchases of $250,000 or more are sold at net asset value (“NAV”) without an up-front sales charge but may be subject to a contingent deferred sales charge (“CDSC”) of 1% (0.70% for Limited Term and Short Term) if redeemed within eighteen months of purchase. Class C Shares are sold without an up-front sales charge but incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. The Funds will issue Class C2 Shares upon the exchange of Class C2 Shares from another Nuveen mutual fund or for the purposes of dividend reinvestment, but Class C2 Shares are not available for new accounts or for additional investment into existing accounts. Class C2 Shares incur a 0.55% (0.35% for Limited Term and Short Term) annual 12b-1 distribution fee and a 0.20% annual 12b-1 service fee. Class C and C2 Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class R6 Shares and Class I Shares are not subject to any sales charge or 12b-1 distribution or service fees.

Multiclass Operations and Allocations

Income and expenses of the Funds that are not directly attributable to a specific class of shares are prorated among the classes based on the relative settled shares of each class. Expenses directly attributable to a class of shares are recorded to the specific class. Currently, the only expenses that are allocated on a class-specific basis are 12b-1 distribution and service fees.

Sub-transfer agent fees, which are recognized as a component of “Shareholder servicing agent fees” on the Statement of Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

Compensation

Neither Trust pays compensation directly to those of its directors/trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to each Trust from the Adviser or its affiliates. The Funds’ Board of Directors/Trustees (the “Board”) has adopted a deferred compensation plan for independent directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

Indemnifications

Under each Trust’s organizational documents, its officers and directors/trustees are indemnified against certain liabilities arising out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide general indemnifications to other parties. Each Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

Netting Arrangements

In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivative Association, Inc. (“ISDA”) master agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis.

The Funds’ investments subject to netting agreements as of the end of the reporting period, if any, are further described in Note 3 – Portfolio Securities and Investments in Derivatives.

NUVEEN 225

Notes to Financial Statements (Unaudited) (continued)

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the current fiscal period. Actual results may differ from those estimates.

2. Investment Valuation and Fair Value Measurements

The fair valuation input levels as described below are for fair value measurement purposes.

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 –	Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2 –	Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 –	Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

Prices of fixed-income securities are provided by an independent pricing service (“pricing service”) approved by the Board. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. These securities are generally classified as Level 2. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity, provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the observability of the significant inputs.

Prices of swap contracts are also provided by a pricing service approved by the Board using the same methods as described above, and are generally classified as Level 2.

Investments in investment companies are valued at their respective NAVs on valuation date and are generally classified as Level 1.

Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Board and/or its appointee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s NAV (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security’s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the observability of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Board and/or its appointee.

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of each Fund’s fair value measurements as of the end of the reporting period:

All-American	Level 1		Level 2		Level 3			Total
Long-Term Investments*:
Municipal Bonds	$	—	$	3,533,186,060	$	—		$	3,533,186,060
Corporate Bonds		—		—		104,840	***		104,840
Short-Term Investments*:
Municipal Bonds		—		30,000,000		—			30,000,000
Total	$	—	$	3,563,186,060	$	104,840		$	3,563,290,900

226 NUVEEN

Inflation Protected	Level 1		Level 2			Level 3			Total
Long-Term Investments*:
Municipal Bonds	$	—	$	111,608,826		$	—		$	111,608,826
Short-Term Investments*:
Municipal Bonds		—		1,000,000			—			1,000,000
Investments in Derivatives:
Consumer Price Index Swaps**		—		(4,404,183	)		—			(4,404,183	)
Total	$	—	$	108,204,643		$	—		$	108,204,643
Intermediate Duration
Long-Term Investments*:
Municipal Bonds	$	—	$	5,242,241,673		$	—		$	5,242,241,673
Corporate Bonds		—		—			161,504	***		161,504
Investment Companies		15,001,800		—			—			15,001,800
Short-Term Investments*:
Municipal Bonds		—		45,000,000			—			45,000,000
Total	$	15,001,800	$	5,287,241,673		$	161,504		$	5,302,404,977
Limited Term
Long-Term Investments*:
Municipal Bonds	$	—	$	4,529,984,584		$	—		$	4,529,984,584
Corporate Bonds		—		—			99,601	***		99,601
Investment Companies		34,601,996		—			—			34,601,996
Short-Term Investments*:
Municipal Bonds		—		38,016,022			—			38,016,022
Total	$	34,601,996	$	4,568,000,606		$	99,601		$	4,602,702,203
Short Term
Long-Term Investments*:
Municipal Bonds	$	—	$	588,036,155		$	—		$	588,036,155
Investment Companies		12,400,674		—			—			12,400,674
Short-Term Investments*:
Municipal Bonds		—		10,806,644			—			10,806,644
Total	$	12,400,674	$	598,842,799		$	—		$	611,243,473

* Refer to the Fund’s Portfolio of Investments for state and/or industry classifications, where applicable.

** Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

*** Refer to the Fund’s Portfolio of Investments for securities classified as Level 3.

The Board is responsible for the valuation process and has appointed the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board, is responsible for making fair value determinations, evaluating the effectiveness of the Funds’ pricing policies and reporting to the Board. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the Funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:

(i) If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.

(ii) If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.

The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument’s current value.

NUVEEN 227

Notes to Financial Statements (Unaudited) (continued)

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board.

3. Portfolio Securities and Investments in Derivatives

Portfolio Securities

Inverse Floating Rate Securities

Each Fund, other than Inflation Protected, is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond (referred to as an “Underlying Bond”), typically with a fixed interest rate, into a special purpose tender option bond (“TOB”) trust (referred to as the “TOB Trust”) created by or at the direction of one or more Funds. In turn, the TOB Trust issues (a) floating rate certificates (referred to as “Floaters”), in face amounts equal to some fraction of the Underlying Bond’s par amount or market value, and (b) an inverse floating rate certificate (referred to as an “Inverse Floater”) that represents all remaining or residual interest in the TOB Trust. Floaters typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value, which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider (“Liquidity Provider”), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more of the Funds. The income received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse Floater holder bears substantially all of the Underlying Bond’s downside investment risk and also benefits disproportionately from any potential appreciation of the Underlying Bond’s value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.

The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more than par in certain circumstances), and (b) have the trustee of the TOB Trust (the “Trustee”) transfer the Underlying Bond held by the TOB Trust to the Fund, thereby collapsing the TOB Trust.

The Fund may acquire an Inverse Floater in a transaction where it (a) transfers an Underlying Bond that it owns to a TOB Trust created by a third party or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a “self-deposited Inverse Floater”). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first owning the Underlying Bond (referred to as an “externally-deposited Inverse Floater”).

An investment in a self-deposited Inverse Floater is accounted for as a “financing” transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund’s Portfolio of Investments as “(UB) – Underlying bond of an inverse floating rate trust reflected as a financing transaction,” with the Fund recognizing as liabilities, labeled “Floating rate obligations” on the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in “Investment Income” the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust’s borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of “Interest expense” on the Statement of Operations.

In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund’s Portfolio of Investments as “(IF) – Inverse floating rate investment.” For an externally-deposited Inverse Floater, a Fund’s Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in “Investment Income” only the net amount of earnings on the Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.

Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.

As of the end of the reporting period, the aggregate value of Floaters issued by each Fund’s TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:

Floating Rate Obligations Outstanding	All-American		Intermediate Duration		Limited Term		Short Term
Floating rate obligations: self-deposited Inverse Floaters	$	67,370,000	$	—	$	—	$	—
Floating rate obligations: externally-deposited Inverse Floaters		73,407,500		12,490,000		—		—
Total	$	140,777,500	$	12,490,000	$	—	$	—

228 NUVEEN

During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average annual interest rate and fees related to self-deposited Inverse Floaters, were as follows:

Self-Deposited Inverse Floaters	All-American			Intermediate Duration			Limited Term			Short Term
Average floating rate obligations outstanding	$	67,370,000		$	—		$	—		$	—
Average annual interest rate and fees		1.40	%		—	%		—	%		—	%

TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated to provide a loan to the extent that the proceeds of the sale of the Underlying Bond are not sufficient to pay the purchase price of the Floaters.

The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust’s outstanding Floaters plus any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater than the rate that would have been paid had the Floaters been successfully remarketed.

As described above, any amounts outstanding under a liquidity facility are recognized as a component of “Floating rate obligations” on the Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the reporting period, All-American had outstanding borrowings under such liquidity facilities in the amount of $10,375,433, which is recognized as a component of “Floating rate obligations” on the Statement of Assets and Liabilities. There were no loans outstanding under such facilities for Intermediate Duration, Limited Term and Short Term as of the end of the reporting period.

Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a “recourse arrangement”) (TOB Trusts involving such agreements are referred to herein as “Recourse Trusts”), under which a Fund agrees to reimburse the Liquidity Provider for the Trust’s Floaters, in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any shortfalls in interest cash flows. Under these agreements, a Fund’s potential exposure to losses related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as “Unrealized depreciation on Recourse Trusts” on the Statement of Assets and Liabilities.

As of the end of the reporting period, each Fund’s maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:

Floating Rate Obligations-Recourse Trusts	All-American		Intermediate Duration		Limited Term		Short Term
Maximum exposure to Recourse Trusts: self-deposted Inverse Floaters	$	52,370,000	$	—	$	—	$	—
Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters		29,525,000		12,490,000		—		—
Total	$	81,895,000	$	12,490,000	$	—	$	—

Zero Coupon Securities

A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.

Investments in Derivatives

In addition to the inverse floating rate securities in which certain Funds may invest, which are considered portfolio securities for financial reporting purposes, each Fund is authorized to invest in certain derivative instruments. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds’ investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.

NUVEEN 229

Notes to Financial Statements (Unaudited) (continued)

Consumer Price Index Swaps

Inflation Protected seeks to hedge inflation risk by investing in inflation-linked instruments, such as Consumer Price Index (“CPI”) swaps, in amounts sufficient to approximate the duration characteristics of the Fund’s underlying municipal bond portfolio. A CPI swap is a fixed maturity, over-the-counter (“OTC”) derivative in which the Fund pays to the counterparty a predetermined fixed annualized rate over the life of the CPI swap and receives in return the “realized” rate of inflation as measured by the CPI for All Urban Consumers Non-Seasonally Adjusted over the life of the swap. The Fund will benefit from a CPI swap if actual inflation during the swap’s period is greater than the level of inflation expected for that period at the time the swap was entered into, and conversely the Fund will lose money on a CPI swap if actual inflation turns out to be less than expected.

The amount of the payment obligation is based on the notional amount of the CPI swap contract and the termination date of the swap (which is akin to a bond’s maturity). CPI swap contracts are valued daily. The amount recorded on these transactions, is recognized on the Statement of Assets and Liabilities as a component of “Unrealized appreciation or depreciation on consumer price index swaps” with the change during the fiscal period recognized on the Statement of Operations as a component of “Change in net unrealized appreciation (depreciation) of swaps.”

Upon the termination of a swap contract, a realized gain or loss is recognized. When a CPI swap is terminated, it ordinarily does not involve the delivery of securities or other underlying assets or principal, but rather is settled in cash on a net basis. Net realized gains and losses during the fiscal period are recognized on the Statement of Operations as a component of “Net realized gain (loss) from swaps.” Accordingly, the risk of loss with respect to the swap counterparty on such transactions is limited to the credit risk associated with a counterparty failing to honor its commitment to pay any realized gain to the Fund upon termination.

During the current fiscal period, Inflation Protected continued to invest in CPI swap contracts to hedge against fluctuations in inflation expectations, which can influence bond prices, and realized inflation.

The average notional amount of CPI swap contracts outstanding during the current fiscal period, was as follows:

	Inflation Protected
Average notional amount of CPI swap contracts outstanding*	$	100,883,333

* The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal period and at the end of each fiscal quarter within the current fiscal period.

The following table presents the fair value of all swap contracts held by the Funds as of the end of the reporting period, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.

		Location on the Statement of Asset and Liabilities
		Asset Derivatives			(Liability) Derivatives
Underlying Risk Exposure	Derivative Instrument	Location	Value		Location	Value
Inflation Protected
Inflation	Swaps (OTC Uncleared)	Unrealized appreciation on consumer price index swaps	$	35,604	Unrealized depreciation on consumer price index swaps	$	(4,439,787	)

The following table presents the Funds’ swap contracts subject to netting agreements and the collateral delivered related to those swap contracts, as of the end of the reporting period.

Fund	Counterparty	Gross Unrealized Appreciation on CPI Swaps**		Gross Unrealized (Depreciation) on CPI Swaps**			Net Unrealized Appreciation (Depreciation) on CPI Swaps			Collateral Pledged to (from) Counterparty		Net Exposure
Inflation Protected
	Citigroup Inc.	$	29,288	$	—		$	29,288		$	—	$	29,288
	JPMorgan Chase Bank, N.A.		6,316		(3,302,571	)		(3,296,255	)		3,296,255		—
	Morgan Stanley Capital Services LLC		—		(1,137,216	)		(1,137,216	)		1,137,216		—
		$	35,604	$	(4,439,787	)	$	(4,404,183	)	$	4,433,471	$	29,288

** Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund’s Portfolio of Investments.

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on swap contracts on the Statement of Operations during the current fiscal period, and the primary underlying risk exposure.

Fund	Underlying Risk Exposure	Derivative Instrument	Net Realized Gain (Loss) from Swaps			Change in Net Unrealized Appreciation (Depreciation) of Swaps
Inflation Protected	Inflation	Swaps	$	(710	)	$	(1,324,214	)

230 NUVEEN

Market and Counterparty Credit Risk

In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund’s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities.

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.

4. Fund Shares

The Funds have an effective registration statement on file with the Securities and Exchange Commission (SEC) to issue Class T Shares, which were not yet available for public offering at the time this report was issued.

Transactions in Fund shares during the current and prior fiscal period were as follows:

	Six Months Ended 9/30/17						Eleven Months Ended 3/31/17						Year Ended 4/30/16
All-American	Shares			Amount			Shares			Amount			Shares			Amount
Shares sold:
Class A		17,815,527		$	205,959,798			37,999,803		$	442,060,802			26,189,331		$	303,700,651
Class C		2,165,437			25,035,294			7,259,171			85,069,956			6,352,698			73,700,023
Class C2		127,093			1,465,463			331,347			3,809,662			330,060			3,816,081
Class R61		5,943			69,525			116,958			1,400,000			—			—
Class R61 – exchanges		—			—			495,487			5,990,428			—			—
Class I		22,847,859			265,209,777			62,111,274			721,391,446			35,359,487			411,928,947
Shares issued to shareholders due to reinvestment of distributions:
Class A		1,597,300			18,478,723			3,110,684			36,106,685			2,885,157			33,420,518
Class C		175,009			2,024,859			285,221			3,305,584			152,654			1,772,587
Class C2		249,224			2,882,943			503,999			5,859,456			612,128			7,088,017
Class R61		9,628			111,816			14,326			166,100			—			—
Class I		1,815,922			21,092,877			2,690,658			31,352,646			2,216,983			25,792,917
		46,808,942			542,331,075			114,918,928			1,336,512,765			74,098,498			861,219,741
Shares redeemed:
Class A		(8,995,106	)		(103,950,257	)		(40,166,554	)		(458,318,918	)		(15,366,035	)		(177,885,059	)
Class C		(1,680,021	)		(19,391,013	)		(2,966,393	)		(33,868,387	)		(861,607	)		(9,980,363	)
Class C2		(3,299,763	)		(38,093,542	)		(3,621,728	)		(41,664,533	)		(3,223,474	)		(37,255,560	)
Class R61		(69,699	)		(817,313	)		(40,907	)		(483,094	)		—			—
Class I		(13,898,900	)		(161,097,733	)		(38,761,129	)		(443,659,810	)		(15,518,674	)		(180,171,437	)
Class I – exchanges		—			—			(495,487	)		(5,990,428	)		—			—
		(27,943,489	)		(323,349,858	)		(86,052,198	)		(983,985,170	)		(34,969,790	)		(405,292,419	)
Net increase (decrease)		18,865,453		$	218,981,217			28,866,730		$	352,527,595			39,128,708		$	455,927,322

¹  Class R6 Shares were established on June 30, 2016.

NUVEEN 231

Notes to Financial Statements (Unaudited) (continued)

	Six Months Ended 9/30/17						Eleven Months Ended 3/31/17						Year Ended 4/30/16
Inflation Protected	Shares			Amount			Shares			Amount			Shares			Amount
Shares sold:
Class A		643,792		$	6,859,185			2,315,556		$	24,480,823			446,907		$	4,685,786
Class C		32,562			346,163			80,018			842,887			14,811			155,125
Class C2		3,498			37,218			31,025			325,548			2			6
Class I		1,907,691			20,431,184			4,566,554			48,322,953			461,989			4,829,823
Shares issued to shareholders due to reinvestment of distributions:
Class A		27,344			291,841			49,301			522,551			50,564			530,547
Class C		908			9,694			1,316			13,951			1,826			19,135
Class C2		3,603			38,460			8,557			90,731			12,313			129,111
Class I		63,263			676,915			39,434			418,965			38,368			403,064
		2,682,661			28,690,660			7,091,761			75,018,409			1,026,780			10,752,597
Shares redeemed:
Class A		(709,851	)		(7,565,036	)		(1,754,855	)		(18,478,960	)		(769,441	)		(8,045,793	)
Class C		(10,399	)		(111,115	)		(49,345	)		(523,974	)		(53,564	)		(559,729	)
Class C2		(21,414	)		(228,357	)		(98,517	)		(1,038,851	)		(190,400	)		(1,998,117	)
Class I		(416,313	)		(4,456,278	)		(450,647	)		(4,763,504	)		(1,047,187	)		(10,948,863	)
		(1,157,977	)		(12,360,786	)		(2,353,364	)		(24,805,289	)		(2,060,592	)		(21,552,502	)
Net increase (decrease)		1,524,684		$	16,329,874		$	4,738,397		$	50,213,120			(1,033,812	)	$	(10,799,905	)
	Six Months Ended 9/30/17						Eleven Months Ended 3/31/17						Year Ended 4/30/16
Intermediate Duration	Shares			Amount			Shares			Amount			Shares			Amount
Shares sold:
Class A		8,682,311		$	79,883,722			41,376,836		$	384,506,154			69,529,013		$	648,344,302
Class C		652,262			6,005,258			2,673,614			24,789,149			2,228,982			20,656,289
Class C2		43,762			402,055			310,995			2,852,997			167,761			1,552,886
Class I		56,880,938			523,980,685			186,605,560			1,709,799,892			104,009,468			964,344,775
Shares issued to shareholders due to reinvestment of distributions:
Class A		678,861			6,248,097			2,960,538			27,262,792			2,068,713			19,160,080
Class C		42,293			389,254			76,930			707,393			45,037			417,557
Class C2		69,462			639,886			148,298			1,368,438			172,693			1,599,448
Class I		4,762,093			43,921,729			7,300,097			67,386,003			7,006,982			64,963,843
		71,811,982			661,470,686			241,452,868			2,218,672,818			185,228,649			1,721,039,180
Shares redeemed:
Class A		(5,850,549	)		(53,791,935	)		(102,952,998	)		(931,127,729	)		(40,835,311	)		(376,294,309	)
Class C		(625,910	)		(5,752,684	)		(1,443,916	)		(13,134,125	)		(462,697	)		(4,281,899	)
Class C2		(1,690,079	)		(15,543,539	)		(1,782,596	)		(16,389,743	)		(1,789,899	)		(16,530,799	)
Class I		(49,552,115	)		(456,560,698	)		(120,729,024	)		(1,103,180,388	)		(75,263,910	)		(696,478,004	)
		(57,718,653	)		(531,648,856	)		(226,908,534	)		(2,063,831,985	)		(118,351,817	)		(1,093,585,011	)
Net increase (decrease)		14,093,329		$	129,821,830		$	14,544,334		$	154,840,833			66,876,832		$	627,454,169

232 NUVEEN

	Six Months Ended 9/30/17						Eleven Months Ended 3/31/17						Year Ended 4/30/16
Limited Term	Shares			Amount			Shares			Amount			Shares			Amount
Shares sold:
Class A		12,288,721		$	135,062,744			47,422,509		$	524,377,480			32,531,866		$	361,340,996
Class C		700,640			7,669,289			5,265,190			58,093,111			4,483,492			49,594,953
Class C2		64,374			704,361			467,997			5,085,379			338,009			3,733,436
Class I		46,557,557			509,801,785			152,428,720			1,667,265,167			109,078,079			1,205,076,878
Shares issued to shareholders due to reinvestment of distributions:
Class A		742,299			8,161,696			1,615,106			17,787,521			1,664,294			18,481,106
Class C		39,142			428,739			75,134			823,460			56,544			625,394
Class C2		171,627			1,881,862			360,817			3,964,384			463,720			5,131,676
Class I		1,812,554			19,854,805			2,996,973			32,853,929			2,650,428			29,305,295
		62,376,914			683,565,281			210,632,446			2,310,250,431			151,266,432			1,673,289,734
Shares redeemed:
Class A		(13,429,711	)		(147,553,805	)		(56,637,874	)		(619,794,841	)		(31,279,111	)		(347,089,036	)
Class C		(1,773,783	)		(19,424,255	)		(3,119,390	)		(34,010,053	)		(1,119,931	)		(12,377,432	)
Class C2		(5,808,863	)		(63,683,775	)		(6,943,314	)		(75,929,386	)		(7,107,002	)		(78,576,547	)
Class I		(44,583,876	)		(487,758,494	)		(124,123,411	)		(1,351,278,294	)		(66,050,033	)		(729,849,756	)
		(65,596,233	)		(718,420,329	)		(190,823,989	)		(2,081,012,574	)		(105,556,077	)		(1,167,892,771	)
Net increase (decrease)		(3,219,319	)	$	(34,855,048	)	$	19,808,457		$	229,237,857			45,710,355		$	505,396,963
	Six Months Ended 9/30/17						Eleven Months Ended 3/31/17						Year Ended 4/30/16
Short Term	Shares			Amount			Shares			Amount			Shares			Amount
Shares sold:
Class A		2,071,018		$	20,858,534			18,893,178		$	189,445,892			6,266,698		$	63,318,982
Class C		145,290			1,460,810			1,157,740			11,573,839			559,288			5,643,547
Class C2		3,976			40,000			351,135			3,513,712			210,818			2,123,006
Class I		6,751,840			68,057,739			22,775,653			228,657,669			17,816,471			180,224,458
Shares issued to shareholders due to reinvestment of distributions:
Class A		75,492			760,315			142,957			1,438,305			135,272			1,367,482
Class C		776			7,795			1,221			12,254			1,422			14,344
Class C2		3,275			32,949			6,744			67,827			8,423			85,048
Class I		98,241			990,297			181,416			1,828,080			187,817			1,899,720
		9,149,908			92,208,439			43,510,044			436,537,578			25,186,209			254,676,587
Shares redeemed:
Class A		(3,938,766	)		(39,679,521	)		(17,580,287	)		(176,491,569	)		(7,399,275	)		(74,778,844	)
Class C		(232,692	)		(2,339,202	)		(843,425	)		(8,446,447	)		(328,066	)		(3,310,902	)
Class C2		(149,323	)		(1,500,671	)		(468,855	)		(4,713,142	)		(537,926	)		(5,430,070	)
Class I		(7,927,922	)		(79,903,560	)		(25,016,819	)		(251,809,197	)		(24,080,228	)		(243,437,660	)
		(12,248,703	)		(123,422,954	)		(43,909,386	)		(441,460,355	)		(32,345,495	)		(326,957,476	)
Net increase (decrease)		(3,098,795	)	$	(31,214,515	)		(399,342	)	$	(4,922,777	)		(7,159,286	)	$	(72,280,889	)

5. Investment Transactions

Long-term purchases and sales (including maturities but excluding derivative transactions, where applicable) during the current fiscal period were as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Purchases	$	575,885,195	$	21,434,125	$	575,084,705	$	555,567,253	$	109,230,250
Sales and maturities		347,387,309		2,248,314		423,117,920		516,969,269		85,082,282

6. Income Tax Information

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.

NUVEEN 233

Notes to Financial Statements (Unaudited) (continued)

For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the NAVs of the Funds.

The tables below present the cost and unrealized appreciation (depreciation) of each Fund’s investment portfolio, as determined on a federal income tax basis, as of September 30, 2017.

For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.

	All- American			Inflation Protected			Intermediate Duration			Limited Term			Short Term
Tax cost of investments	$	3,270,805,662		$	109,139,108		$	5,102,099,163		$	4,556,498,529		$	607,503,644
Gross unrealized:
Appreciation		242,550,016			3,598,939			240,664,740			80,819,640			4,436,506
Depreciation		(17,435,300	)		(129,221	)		(40,358,926	)		(34,615,966	)		(696,677	)
Net unrealized appreciation (depreciation) of investments	$	225,114,716		$	3,469,718		$	200,305,814		$	46,203,674		$	3,739,829

	Inflation Protected
Tax cost of swaps	$	484
Net unrealized appreciation (depreciation) of swaps	$	(4,404,183	)

Permanent differences, primarily due to treatment of notional principal contracts, taxable market discount and expiration of capital loss carryforwards, resulted in reclassifications among the Funds’ components of net assets as of March 31, 2017, the Funds’ last tax year end, as follows:

	All- American			Inflation Protected			Intermediate Duration			Limited Term			Short Term
Capital paid-in	$	(22,698,037	)	$	—		$	(1	)	$	(1,071,726	)	$	(312,109	)
Undistributed (Over-distribution of) net investment income		(152,325	)		(1,237	)		(164,932	)		(69,795	)		—
Accumulated net realized gain (loss)		22,850,362			1,237			164,933			1,141,521			312,109

The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of March 31, 2017, the Funds’ last tax year end, were as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Undistributed net tax-exempt income1	$	9,577,289	$	99,152	$	16,409,061	$	7,540,671	$	946,157
Undistributed net ordinary income2		396,013		—		168,880		180,503		3,083
Undistributed net long-term capital gains		—		—		—		—		—

¹  Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period March 1, 2017 through March 31, 2017, and paid on April 3, 2017.

²  Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.

The tax character of distributions paid during the Funds’ last tax years ended March 31, 2017 and April 30, 2016, was designated for purposes of the dividends paid deduction as follows:

2017	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Distributions from net tax-exempt income	$	106,997,405	$	1,036,389	$	140,256,245	$	78,601,677	$	6,183,889
Distributions from net ordinary income2		516,939		13,029		2,038,150		639,919		32,272
Distributions from net long-term capital gains		—		—		3,122,926		—		—
2016	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Distributions from net tax-exempt income	$	97,888,700	$	1,165,182	$	132,211,966	$	77,997,772	$	6,918,991
Distributions from net ordinary income2		637,634		—		143,197		381,557		191
Distributions from net long-term capital gains		—		—		—		—		—

²  Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.

234 NUVEEN

As of March 31, 2017, the Funds’ last tax year end, the following Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as shown in the following table. The losses not subject to expiration will be utilized first by a Fund.

	All- American3		Inflation Protected		Limited Term		Short Term
Expiration:
March 31, 2018	$	14,897,930	$	—	$	543,730	$	—
March 31, 2019		881,168		—		1,598,268		—
Not subject to expiration		58,538,462		4,918,017		13,476,574		698,454
Total	$	74,317,560	$	4,918,017	$	15,618,572	$	698,454

³  A portion of All-American’s capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.

As of March 31, 2017, the Funds’ last tax year end, the following Funds’ capital loss carryforwards expired as follows:

	All- American		Limited Term		Short Term
Expired capital loss carryforwards	$	22,698,037	$	1,071,726	$	312,109

During the Funds’ last tax year ended March 31, 2017, Intermediate Duration utilized $3,973,702 of its capital loss carryforwards.

The Funds have elected to defer late-year losses in accordance with federal income tax rules. These losses are treated as having arisen on the first day of the current fiscal year. The following Fund has elected to defer losses as follows:

	Intermediate Duration
Post-October capital losses4	$	16,027,657
Late-year ordinary losses5		—

⁴  Capital losses incurred from November 1, 2016 through March 31, 2017, the Funds’ last tax year end.

⁵  Ordinary losses incurred from January 1, 2017 through March 31, 2017 and/or specified losses incurred from November 1, 2016 through March 31, 2017.

7. Management Fees and Other Transactions with Affiliates

Management Fees

Each Fund’s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

Each Fund’s management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund’s shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.

For the period April 1, 2017 through July 31, 2017, the annual Fund-level fee, payable monthly, for each Fund was calculated according to the following schedule:

Average Daily Net Assets	All- American			Inflation Protected			Intermediate Duration			Limited Term			Short Term
For the first $125 million		0.3000	%		0.3000	%		0.3000	%		0.2500	%		0.2500	%
For the next $125 million		0.2875			0.2875			0.2875			0.2375			0.2375
For the next $250 million		0.2750			0.2750			0.2750			0.2250			0.2250
For the next $500 million		0.2625			0.2625			0.2625			0.2125			0.2125
For the next $1 billion		0.2500			0.2500			0.2500			0.2000			0.2000
For net assets over $2 billion		—			0.2250			—			—			0.1750
For the next $3 billion		0.2250			—			0.2250			0.1750			—
For net assets over $5 billion		0.2125			—			0.2125			0.1625			—

Effective August 1, 2017 the annual Fund-level fee, payable monthly, for each Fund is calculated according to the following schedule:

Average Daily Net Assets	All- American			Inflation Protected			Intermediate Duration			Limited Term			Short Term
For the first $125 million		0.3000	%		0.3000	%		0.3000	%		0.2500	%		0.2500	%
For the next $125 million		0.2875			0.2875			0.2875			0.2375			0.2375
For the next $250 million		0.2750			0.2750			0.2750			0.2250			0.2250
For the next $500 million		0.2625			0.2625			0.2625			0.2125			0.2125
For the next $1 billion		0.2500			0.2500			0.2500			0.2000			0.2000
For the next $3 billion		0.2250			0.2250			0.2250			0.1750			0.1750
For the next $5 billion		0.2000			0.2000			0.2000			0.1500			0.1500
For net assets of $10 billion and greater		0.1875			0.1875			0.1875			0.1375			0.1375

NUVEEN 235

Notes to Financial Statements (Unaudited) (continued)

The annual complex-level fee, payable monthly, for each Fund is determined by taking the complex-level fee rate, which is based on the aggregate amount of “eligible assets” of all Nuveen funds as set forth in the schedule below, and for All-American, Intermediate Duration and Short Term, making, as appropriate, an upward adjustment to that rate based upon the percentage of the fund’s assets that are not “eligible assets.” The complex level fee schedule for each Fund is as follows:

Complex-Level Asset Breakpoint Level*	Effective Rate at Breakpoint Level
$55 billion		0.2000	%
$56 billion		0.1996
$57 billion		0.1989
$60 billion		0.1961
$63 billion		0.1931
$66 billion		0.1900
$71 billion		0.1851
$76 billion		0.1806
$80 billion		0.1773
$91 billion		0.1691
$125 billion		0.1599
$200 billion		0.1505
$250 billion		0.1469
$300 billion		0.1445

* The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen funds. Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. Eligible assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the closed-end funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by the TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in certain circumstances. As of September 30, 2017, the complex-level fee for each Fund was as follows:

Fund	Complex-Level Fee
All-American		0.1646	%
Inflation Protected		0.1599
Intermediate Duration		0.1650
Limited Term		0.1599
Short Term		0.1781

The Adviser has agreed to waive fees and/or reimburse expenses (“Expense Cap”) of the following Funds so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts and for the time periods stated in the following table. The expense limitation expiring July 31, 2019, may be terminated or modified prior to that date only with the approval of the Board. The expense limitations in effect thereafter may be terminated or modified only with the approval of shareholders of the Funds.

Fund	Temporary Expense Cap			Temporary Expense Cap Expiration Date	Permanent Expense Cap
Inflation Protected		0.60	%	July 31, 2019		1.05	%
Intermediate Duration		N/A		N/A		0.75

N/A – Not applicable.

Other Transactions with Affiliates

Each Fund is permitted to purchase or sell securities from or to certain other funds managed by the Adviser (“inter-fund trade”) under specified conditions outlined in procedures adopted by the Board. These procedures have been designed to ensure that any inter-fund trade of securities by the Fund from or to another fund that is, or could be, considered an affiliate of the Fund under certain limited circumstances by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7 of the 1940 Act. Further, as defined under these procedures, each inter-fund trade is effected at the current market price as provided by an independent pricing service. Unsettled inter-fund trades as of the end of the reporting period are recognized as a component of “Receivable for investments sold” and/or “Payable for investments purchased” on the Statement of Assets and Liabilities, when applicable.

During the current fiscal period, the following Fund engaged in inter-fund trades pursuant to these procedures as follows:

Inter-Fund Trades	All- American
Purchases	$	5,948,032
Sales		—

236 NUVEEN

During the current fiscal period, Nuveen Securities, LLC, (the “Distributor”), a wholly-owned subsidiary of Nuveen, collected sales charges on purchases of Class A Shares, the majority of which were paid out as concessions to financial intermediaries as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Sales charges collected	$	1,223,162	$	8,874	$	304,391	$	301,044	$	43,862
Paid to financial intermediaries		1,160,722		8,780		293,800		289,649		42,164

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
Commission advances	$	1,267,150	$	16,299	$	372,921	$	465,573	$	51,122

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class C and Class C2 Shares during the first year following a purchase are retained by the Distributor. During the current fiscal period, the Distributor retained such 12b-1 fees as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
12b-1 fees retained	$	294,371	$	3,343	$	71,545	$	178,092	$	10,677

The remaining 12b-1 fees charged to the Funds were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

The Distributor also collected and retained CDSC on share redemptions during the current fiscal period, as follows:

	All- American		Inflation Protected		Intermediate Duration		Limited Term		Short Term
CDSC retained	$	61,445	$	491	$	35,219	$	96,931	$	32,743

8. Borrowing Arrangements

Uncommitted Line of Credit

During the current fiscal period, the Funds participated in an unsecured bank line of credit (“Unsecured Credit Line”) under which outstanding balances would bear interest at a variable rate. Although the Funds participated in the Unsecured Credit Line, they did not have any outstanding balances during the current fiscal period.

The Unsecured Credit Line was not renewed after its scheduled termination date on July 27, 2017.

Committed Line of Credit

The Funds, along with certain other funds managed by the Adviser (“Participating Funds”), have established a 364-day, approximately $3 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for various purposes other than leveraging for investment purposes. A large portion of this facility’s capacity (and its associated costs as described below) is currently dedicated for use by a small number of Participating Funds, which does not include any of the Funds covered by this shareholder report. The remaining capacity under the facility (and the corresponding portion of the facility’s annual costs) is separately dedicated to most of the other open-end funds in the Nuveen fund family, including all of the Funds covered by this shareholder report, along with a number of Nuveen closed-end funds. The credit facility expires in July 2018 unless extended or renewed.

The credit facility has the following terms: a fee of 0.15% per annum on unused commitment amounts, and interest at a rate equal to the higher of (a) one-month LIBOR (London Inter-Bank Offered Rate) plus 1.25% per annum or (b) the Fed Funds rate plus 1.25% per annum on amounts borrowed. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of “Other expenses” on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility’s aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund.

During the current fiscal period, the following Fund utilized this facility. The Fund’s maximum oustanding balance during the utilization period was as follows:

	Limited Term
Maximum Outstanding Balance	$	13,500,000

NUVEEN 237

Notes to Financial Statements (Unaudited) (continued)

During the current fiscal period, and during the Fund’s utilization period, the average daily balance outstanding and average annual interest rate on the Borrowings were as follows:    

	Limited Term
Average daily balance outstanding	$	11,923,077
Average annual interest rate		2.24%

Borrowings outstanding as of the end of the reporting period are recognized as “Borrowings” on the Statement of Assets and Liabilities, where applicable. None of the other Funds utilized this facility during the current fiscal period.

9. New Accounting Pronouncements

Accounting Standards Update (“ASU”) 2017-08 (“ASU 2017-08”) Premium Amortization on Purchased Callable Debt Securities

During March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-08, which shortens the premium amortization period for purchased non-contingently callable debt securities. ASU 2017-08 specifies that the premium amortization period ends at the earliest call date, for purchased non-contingently callable debt securities. ASU 2017-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the implications of ASU 2017-08, if any.

238 NUVEEN

Additional

Fund Information

Fund Manager Nuveen Fund Advisors, LLC 333 West Wacker Drive Chicago, IL 60606   Sub-Adviser Nuveen Asset Management, LLC 333 West Wacker Drive Chicago, IL 60606 Independent Registered
Public Accounting Firm PricewaterhouseCoopers LLP One North Wacker Drive Chicago, IL 60606   Custodians State Street Bank & Trust
Company One Lincoln Street Boston, MA 02111   U.S. Bank National Association 1555 North RiverCenter Drive Suite 302 Milwaukee, WI 53202 Legal Counsel Chapman and Cutler LLP Chicago, IL 60603 Transfer Agent and
Shareholder Services Boston Financial Data Services, Inc. Nuveen Investor Services P.O. Box 8530 Boston, MA 02266-8530 (800) 257-8787

Quarterly Form N-Q Portfolio of Investments Information: Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC’s Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC-0330 for room hours and operation.

Nuveen Funds’ Proxy Voting Information: You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen toll-free at (800) 257-8787 or on Nuveen’s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen toll-free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.

FINRA BrokerCheck: The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline number at (800) 289-9999 or by visiting www.FINRA.org.

NUVEEN 239

Glossary of Terms

Used in this Report

Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or offer price and reinvested dividends and capital gains distributions, if any) over the time period being considered.

Bloomberg Barclays 1-10 Year Municipal Bond Index: An unmanaged index comprised of investment-grade municipal bonds with maturity dates of more than 1 year and less than 10 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s (or bond fund’s) value to changes when market interest rates change. Generally, the longer a bond or fund’s duration, the more the price of the bond or fund will change as interest rates change.

Effective Leverage (Effective Leverage Ratio): Effective leverage is investment exposure created either directly through certain borrowings or indirectly through inverse floaters, divided by the assets invested, including those assets that were purchased with the proceeds of the leverage, or referenced by the levered instrument. The calculation of the Effective Leverage Ratio reflects borrowings effected on a long-term basis for investment purposes, but excludes borrowings that may occur, on a transient basis, in connection with a Fund’s day-to-day operations primarily in connection with the need to pay cash out to redeeming shareholders or to settle portfolio trades.

Industrial Development Revenue Bond (IDR) – A unique type of revenue bond issued by a state or local government agency on behalf of a private sector company and intended to build or acquire factories or other heavy equipment and tools.

Inflation Linked Swap: A contractual agreement between two counterparties under which one party agrees to make periodic interest payments to the other for an agreed period of time based on a fixed rate (alternatively, a floating rate based on an interest rate index), while the other party agrees to make periodic payments based on a floating rate of interest based on the Consumer Price Index.

Inverse Floating Rate Securities: Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.

Leverage: Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.

Lipper General & Insured Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper General & Insured Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

240 NUVEEN

Lipper Intermediate Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Intermediate Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Short-Intermediate Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Short-Intermediate Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.

Lipper Short Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Short Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.

Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash and accrued earnings) less its total liabilities. For funds with multiple classes, Net Assets are determined separately for each share class. NAV per share is equal to the fund’s (or share class’) Net Assets divided by its number of shares outstanding.

Pre-Refundings: Pre-Refundings, also known as advance refundings or refinancings, occur when an issuer sells new bonds and uses the proceeds to fund principal and interest payments of older existing bonds. This process often results in lower borrowing costs for bond issuers.

S&P Municipal Bond Intermediate Index: An unleveraged, market value-weighted index containing all bonds in the S&P Municipal Bond Index that mature between 3 and 14.999 years. Index returns assume reinvestment of distributions but do not reflect any applicable sales charges or management fees.

S&P Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

S&P Municipal Bond Short Index: An unleveraged, market value-weighted index containing all of the bonds in the S&P Municipal Bond Index with maturities between 6 months and 3.999 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

S&P Municipal Bond Short-Intermediate Index: An unleveraged, market value-weighted index containing all bonds in the S&P Municipal Bond Index that mature between 1 and 7.999 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

Total Investment Exposure: Total investment exposure is a fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities.

Weighted Average Maturity: The average time to maturity of debt securities held in a Fund.

Weighted Average Portfolio Duration: The weighted average duration, including the effects of leverage, of a fund’s bonds and loans, which is a measure of the fund’s price sensitivity expressed in years.

Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.

NUVEEN 241

Annual Investment Management Agreement

Approval Process (Unaudited)

The Board of Directors or Trustees (as the case may be) (each, a “Board,” and each Director or Trustee, a “Board Member”) of the Funds, including the Board Members who are not parties to the applicable advisory or sub-advisory agreements or “interested persons” of any such parties (the “Independent Board Members”), oversees the management of its respective Fund(s), including the performance of Nuveen Fund Advisors, LLC, the Funds’ investment adviser (the “Adviser”), and Nuveen Asset Management, LLC, the Funds’ sub-adviser (the “Sub-Adviser”). As required by applicable law, after the initial term of the respective Fund following commencement of its operations, the Board is required to consider annually whether to renew the Fund’s management agreement with the Adviser (the “Investment Management Agreement”) and its sub-advisory agreement with the Sub-Adviser (the “Sub-Advisory Agreement” and, together with the Investment Management Agreement, the “Advisory Agreements”). Accordingly, the Board met in person on April 11-12, 2017 (the “April Meeting”) and May 23-25, 2017 (the “May Meeting”) to consider the approval of each Advisory Agreement that was up for renewal for an additional one-year period.

The Board considered its review of the Advisory Agreements as an ongoing process encompassing the information received and the deliberations the Board and its committees have had throughout the year. The Board met regularly during the year and received materials and discussed topics that were relevant to the annual consideration of the renewal of the Advisory Agreements, including, among other things, overall market performance and developments; fund investment performance; investment team review; valuation of securities; compliance, regulatory and risk management matters; payments to intermediaries such as 12b-1 fees, sub-transfer agency fees and other payments; and other developments. The Board had also established several standing committees, including the Open-end Fund Committee and Closed-end Fund Committee, which met regularly throughout the year to permit the Board Members to delve deeper into the topics particularly relevant to the respective product line. The Board further continued its practice of seeking to meet periodically with the Sub-Adviser and its investment team. The accumulated information, knowledge, and experience the Board Members had gained during their tenure on the Board governing the Funds and working with the Fund Advisers (as defined below) were taken into account in their review of the Advisory Agreements.

In addition to the materials received by the Board or its committees throughout the year, the Board reviewed extensive additional materials prepared specifically for its annual review of the Advisory Agreements in response to a request by independent legal counsel on behalf of the Independent Board Members. The materials addressed a variety of topics, including, but not limited to, a description of the services provided by the Adviser and Sub-Adviser (the Adviser and the Sub-Adviser are each a “Fund Adviser”); an analysis of fund performance including comparative industry data and a detailed focus on any performance outliers; an analysis of the Sub-Adviser; an analysis of the fees and expense ratios of the Nuveen funds in absolute terms and in comparison to the fees and expenses of peers with a focus on any expense outliers; an assessment of shareholder services for the Nuveen funds and of the performance of certain service providers; a review of initiatives instituted or continued during the past year; and information regarding the profitability of the Fund Advisers, the compensation of portfolio managers, and compliance and risk matters. The materials provided in connection with the annual review included information compiled and prepared by Broadridge Financial Solutions, Inc. (“Broadridge” or “Lipper”), an independent provider of investment company data, comparing, in relevant part, each Fund’s fees and expenses with those of a comparable universe of funds (the “Peer Universe”) and with a more focused subset of the Peer Universe (the “Peer Group”), as selected by Broadridge (the “Broadridge Report”). The Independent Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements.

As part of its annual review, the Board met at the April Meeting to review the investment performance of the Funds and to consider the Adviser’s analysis of the Sub-Adviser evaluating, among other things, the Sub-Adviser’s assets under management, investment team, performance, organizational stability, and investment approach. During the review, the Independent Board Members requested and received additional information from management. At the May Meeting, the Board, including the Independent Board Members, continued its review and ultimately approved the continuation of the Advisory Agreements for an additional year. Throughout the year and throughout their review of the Advisory Agreements, the Independent Board Members were assisted by independent legal counsel and met with counsel separately without management present. In deciding to renew the Advisory Agreements, the Independent Board Members did not identify a particular factor as determinative, but rather the decision reflected the comprehensive consideration of all the information presented, and each Board Member may have attributed different weights to the various factors and information considered in connection with the approval process. The following summarizes the principal factors, but not all the factors, the Board considered in its review of the Advisory Agreements and its conclusions.

A. Nature, Extent and Quality of Services

In evaluating the renewal of the Advisory Agreements, the Independent Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser’s services provided to the respective Fund and the resulting performance of each Fund. The Board recognized the myriad of services the Adviser and its affiliates provided to manage and operate the Nuveen funds, including (a) product management (such as managing distributions, positioning the product in the marketplace, managing the relationships with the distribution platforms, maintaining

242 NUVEEN

and enhancing shareholder communications and reporting to the Board); (b) investment oversight, risk management and securities valuation (such as overseeing the sub-advisers and other service providers, analyzing investment performance and risks, overseeing risk management and disclosure, executing the daily valuation of securities, and analyzing trade execution); (c) fund administration (such as helping to prepare fund tax returns and complete other tax compliance matters and helping to prepare regulatory filings and shareholder reports); (d) fund board administration (such as preparing board materials and organizing and providing assistance for board meetings); (e) compliance (such as helping to devise and maintain the Nuveen funds’ compliance program and test for adherence); (f) legal support (such as helping to prepare registration statements and proxy statements, interpreting regulations and policies and overseeing fund activities); (g) with respect to certain closed-end funds, providing leverage, capital and distribution management services; and (h) with respect to certain open-end funds with portfolios that have a leverage component, providing such leverage management services.

The Board further noted the Adviser’s continued dedication to investing in its business to enhance the quality and breadth of the services provided to the Funds. The Board recognized the Adviser’s investment in staffing over recent years to support the services provided to the Nuveen funds in key areas, including in investment services, product management, retail distribution and information technology, closed-end funds and structured products, as well as in fund administration, operations and risk management. The Board further noted the Adviser’s continued commitment to enhancing its compliance program by, among other things, restructuring the compliance organization, developing a unified compliance program, adding compliance staff, and developing and/or revising policies and procedures as well as building further infrastructure to address new regulatory requirements or guidance and the growth of the complex. The Board also considered the enhancements to Nuveen’s cybersecurity capabilities, systems and processes to value securities, stress test reporting and risk and control self-assessments.

In addition, the Independent Board Members considered information highlighting the various initiatives that the Adviser had implemented or continued over recent years to benefit the open-end fund and closed-end fund product lines and/or particular Nuveen funds. The Board noted the Adviser’s continued efforts to rationalize the open-end fund and closed-end fund product lines through, among other things, mergers, liquidations and repositionings in seeking to provide enhanced shareholder value over the years through increased efficiency, reduced costs, improved performance and revised investment approaches that are more relevant to current shareholder needs. With respect to open-end Nuveen funds, such initiatives also included, but were not limited to, (a) implementing the multi-class solutions platform through the launch of several multi-asset income funds; (b) creating new share classes on several funds, including Nuveen All-American Municipal Bond Fund (the “All-American Fund”), to potentially attract new clients and respond to regulatory developments; (c) reviewing the pricing of the open-end product line which resulted in the reduction of the management fee and/or temporary expense cap for various funds; (d) lowering the sales load breakpoints on certain municipal open-end funds to make them more competitive in the marketplace; (e) modifying the investment policies of various funds; and (f) creating a new product line of exchange-traded funds (“ETFs”).

With respect to municipal funds, the Independent Board Members also appreciated, in particular, the astute portfolio management of the municipal funds with respect to the Puerto Rico debt crisis.

In its review, the Board recognized that initiatives that attracted assets to the Nuveen family of funds generally benefited the Nuveen funds in the complex as fixed costs would be spread over a larger asset base and, as described below, through the complex-wide fee arrangement which generally provides that the management fees of the Nuveen funds (subject to limited exceptions) are reduced as asset levels in the complex reach certain breakpoints in the fee schedule.

Similarly, the Board considered the sub-advisory services provided by the Sub-Adviser to the Funds. The Sub-Adviser generally provided portfolio advisory services for the Funds. The Board reviewed the Adviser’s analysis of the Sub-Adviser which evaluated, among other things, the investment team and any changes thereto, the stability and history of the organization, the assets under management, the investment approach and the performance of the Nuveen funds it sub-advises. The Board noted that the Adviser recommended the renewal of the Sub-Advisory Agreements.

Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement.

B. The Investment Performance of the Funds and Fund Advisers

As part of its evaluation of the services provided by the Fund Advisers, the Board reviewed Fund performance over the quarter, one-, three- and five-year periods ending December 31, 2016 as well as performance data for the first quarter of 2017 ending March 31, 2017. The Board reviewed performance on an absolute basis and in comparison to the performance of peer funds (the “Performance Peer Group”) and recognized and/or customized benchmarks (i.e., generally benchmarks derived from multiple recognized benchmarks). The review and analysis of performance information during the annual review of Advisory Agreements incorporated the discussions and performance information the Board Members have had at each of their quarterly meetings throughout the year.

In evaluating performance data, the Independent Board Members recognized some of the limitations of such data and the difficulty in establishing appropriate peer groups and benchmarks for certain of the Nuveen funds. They recognized that each fund operates pursuant to its own investment objective(s), parameters and restrictions which may differ from that of the Performance Peer Group or benchmark. Certain funds may also utilize

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Annual Investment Management Agreement Approval Process (Unaudited) (continued)

leverage which may provide benefits or risks to their portfolio compared to an unlevered benchmark. The Independent Board Members had noted that management had classified the Performance Peer Groups as low, medium and high in relevancy to the applicable fund as a result of these differences or other factors. The Independent Board Members recognized that the variations between the Performance Peer Group or benchmark and the applicable Fund will lead to differing performance results and may limit the value of the comparative performance data in assessing the particular Fund’s performance.

In addition, the Independent Board Members recognized that the performance data is a snapshot in time, in this case as of the end of the 2016 calendar year or end of the first quarter of 2017. A different period may generate significantly different results and longer term performance can be adversely affected by even one period of significant underperformance. Further, a shareholder’s experience in a Fund depends on his or her own holding period which may differ from that reviewed by the Independent Board Members. The Independent Board Members also noted that although the open-end funds offer multiple classes and the performance data was based on Class A shares, the performance of the other classes of a fund should be substantially similar on a relative basis because all of the classes would be invested in the same portfolio of securities and differences in performance among classes could be principally attributed to the variations in distribution and servicing expenses of each class.

In their review of performance, the Independent Board Members focused, in particular, on the Adviser’s analysis of Nuveen funds determined to be underperforming performance outliers and the factors contributing to the respective fund’s performance and any efforts to address performance concerns. With respect to any Nuveen funds for which the Board has identified performance issues, the Board monitors such funds closely until performance improves, discusses with the Adviser the reasons for such results, considers any steps necessary or appropriate to address such issues, and reviews the results of any efforts undertaken. The Board, however, acknowledged that shareholders chose to invest or remain invested in a fund knowing that the Adviser and applicable sub-adviser manage the fund, knowing the fund’s investment strategy and seeking exposure to that strategy (even if the strategy was “out of favor” in the marketplace) and knowing the fund’s fee structure.

In reviewing the performance of the Nuveen municipal funds, the Board recognized the challenged and volatile conditions of the municipal market in the fourth quarter of 2016 which impacted the performance of many of the municipal funds. The Board further considered that the municipal market had generally rebounded in the first quarter of 2017. In reviewing the performance of the municipal funds, the Board considered the impact of the market conditions.

For the All-American Fund, the Board noted that the Fund had performed well against its Performance Peer Group, ranking in the second quartile in the one-year period and first quartile in the three- and five-year periods. Although the Fund underperformed its benchmark in the one-year period, the Fund outperformed its benchmark in the three- and five-year periods. The Board was satisfied with the Fund’s overall performance.

For Nuveen Inflation Protected Municipal Bond Fund (the “Inflation Protected Fund”), the Board noted that the Fund ranked in its Performance Peer Group in the first quartile in the one-year period, the third quartile in the three-year period and second quartile in the five-year period. The Board also noted that the Fund outperformed its benchmark in these periods. The Board was satisfied with the Fund’s overall performance.

For Nuveen Intermediate Duration Municipal Bond Fund (the “Intermediate Fund”), the Board noted that, although the Fund ranked in its Performance Peer Group in the fourth quartile in the one-year period and underperformed its benchmark in the one-, three- and five-year periods, the Fund ranked in the second quartile in the three-year period and first quartile in the five-year period. The Board was satisfied with the Fund’s overall performance.

For Nuveen Limited Term Municipal Bond Fund (the “Limited Term Fund”), the Board noted that, although the Fund ranked in its Performance Peer Group in the fourth quartile in the one-year period and underperformed its benchmark in the one-, three- and five-year periods, the Fund ranked in the third quartile in the three- and five-year periods. The Board was satisfied with the Fund’s overall performance.

For Nuveen Short Term Municipal Bond Fund (the “Short Term Fund”), the Board noted that, although the Fund underperformed its benchmark in the one-, three- and five-year periods, it ranked in its Performance Peer Group in the third quartile in the one-year period, second quartile in the three-year period, and first quartile in the five-year period. The Board was satisfied with the Fund’s overall performance.

C. Fees, Expenses and Profitability

1. Fees and Expenses

The Board evaluated the management fees and other fees and expenses of each Fund. The Board reviewed and considered, among other things, the gross management fees and after taking into effect any expense limitation arrangement and/or fee waivers (to the extent applicable), the net management fees paid by the Funds. The Board further considered the net total expense ratio of each Fund (expressed as a percentage of average net assets) as the expense ratio is most reflective of the investors’ net experience in a Fund as it directly reflected the costs of investing in the respective Fund.

In addition, the Board reviewed the Broadridge Report comparing, in relevant part, each Fund’s gross and net advisory fees and net total expense ratio with those of a Peer Universe and/or Peer Group, as applicable. The Independent Board Members also reviewed the methodology regarding the construction of the applicable Peer Universe and Peer Group by Broadridge. In reviewing the comparative data, the Board was aware that various factors may limit some of the usefulness of the data, such as differences in size of the peers; the composition of the Peer Universe or Peer

244 NUVEEN

Group; changes each year of funds comprising the Peer Universe and Peer Group; and levels of expense reimbursements and fee waivers. Nevertheless, in reviewing a fund’s fees and expenses compared to the fees and expenses of its peers, the Board generally considered a fund’s expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were 6 to 10 basis points higher, in line if they were within approximately 5 basis points higher than the peer average and below if they were below the peer average of the Peer Group. The Board noted that the substantial majority of the Nuveen funds had a net expense ratio that was near or below their respective peer average.

The Independent Board Members noted that the All-American Fund, the Intermediate Fund and the Limited Term Fund each had a net management fee that was in line with its respective peer average and a net expense ratio below its respective peer average, the Inflation Protected Fund had a net management fee and net expense ratio below the peer average, and the Short Term Fund had a net management fee slightly higher than its peer average but a net expense ratio in line with the peer average.

In their evaluation of the management fee schedule, the Independent Board Members also reviewed the fund-level and complex-wide breakpoint schedules, as described in further detail below. In this regard, the Board was aware that as a result of a review of the pricing of the Nuveen open-end funds, the management fees and/or expense caps of various open-end funds had been reduced in 2016. The Independent Board Members also took into account any expense reimbursements and/or fee waivers provided by Nuveen. In addition, the Independent Board Members recognized that the fund-level breakpoint schedules of the Nuveen open-end funds recently were revised resulting in the addition of more breakpoints in the management fee schedules of the funds. The Board recognized that the revised schedules would provide for the potential of additional savings for shareholders if the respective fund’s assets under management grow and actual savings for the Intermediate Fund given its level of assets under management and the applicable revised schedule.

Based on their review of the information provided, the Board determined that each Fund’s management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

2. Comparisons with the Fees of Other Clients

The Board also reviewed information regarding the respective Fund Adviser’s fee rates for providing advisory services to other types of clients. For the Adviser and/or the Sub-Adviser, such other clients may include municipal separately managed accounts and passively managed ETFs sub-advised by the Sub-Adviser but that are offered by another fund complex.

The Board recognized that each Fund had an affiliated sub-adviser. In reviewing the fee rates assessed to other clients, with respect to affiliated sub-advisers, the Board reviewed, among other things, the range of fees and average fee rates assessed for managed accounts.

The Board recognized the inherent differences between the Nuveen funds and the other types of clients. The Board considered information regarding these various differences which included, among other things, the services required, product distribution, average account sizes, types of investors targeted, legal structure and operations, and applicable laws and regulations. The Independent Board Members recognized that the foregoing variations resulted in different economics among the product structures and culminated in varying management fees among the types of clients and the Nuveen funds. In general, the Board noted that higher fee levels reflected higher levels of service provided by the Fund Adviser, increased investment management complexity, greater product management requirements and higher levels of business risk or some combination of the foregoing. The Board recognized the breadth of services the Adviser provided to support the Nuveen funds as summarized above and noted that many of such administrative services may not be required to the same extent or at all for the institutional clients or other clients. The Board further recognized the passive management of ETFs compared to the active management required of other Nuveen funds would contribute to differing fee levels.

The Independent Board Members noted that the sub-advisory fees paid by the Adviser to the Sub-Adviser, however, were generally for portfolio management services. With respect to affiliated sub-advisers, the Board noted such sub-advisory fees were more comparable to the fees of retail wrap accounts and other external sub-advisory mandates.

Given the inherent differences in the various products, particularly the extensive services provided to the Funds, the Board concluded that such facts justify the different levels of fees.

3. Profitability of Fund Advisers

In conjunction with their review of fees, the Independent Board Members also considered Nuveen’s level of profitability for its advisory services to the Nuveen funds for the calendar years 2016 and 2015. In considering profitability, the Independent Board Members considered the level of profitability realized by Nuveen before the imposition of any distribution and marketing expenses incurred by the firm from its own resources. In evaluating the profitability, the Independent Board Members evaluated the analysis employed in developing the profitability figures, including the assumptions and methodology employed in allocating expenses. The Independent Board Members recognized the inherent limitations to any cost allocation methodology as different and reasonable approaches may be used and yet yield differing results. The Independent Board Members further reviewed an analysis of the history of the profitability methodology used explaining any changes to the methodology over the years. The Board has appointed two Independent Board Members, who along with independent legal counsel, helped to review and discuss the methodology employed to develop the profitability analysis each year and any proposed changes thereto and to keep the Board apprised of such changes during the year.

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Annual Investment Management Agreement Approval Process (Unaudited) (continued)

In their review, the Independent Board Members evaluated, among other things, Nuveen’s adjusted operating margins, the gross and net revenue margins (pre-tax and after-tax) for advisory activities for the Nuveen funds, and the revenues, expenses, and net income (pre-tax and after-tax) of Nuveen for each of the last two calendar years. The Independent Board Members also reviewed an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2016 versus 2015. The Board, however, observed that Nuveen’s operating margins for its advisory activities in 2016 were similar to that of 2015.

In addition to reviewing Nuveen’s profitability in absolute terms, the Independent Board Members also reviewed the adjusted total company margins of other advisory firms that had publicly available information and comparable assets under management (based on asset size and asset composition). The Independent Board Members, however, noted that the usefulness of the comparative data may be limited as the other firms may have a different business mix and their profitability data may be affected by numerous other factors such as the types of funds managed, the cost allocation methodology used, and their capital structure. Nevertheless, the Board noted that Nuveen’s adjusted operating margins appeared comparable to the adjusted margins of the peers.

Further, the Adviser is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America (“TIAA”). To have a fuller picture of the financial condition and strength of the TIAA complex, together with Nuveen, the Board reviewed a balance sheet for TIAA reflecting its assets, liabilities and capital and contingency reserves for the 2016 and 2015 calendar years.

In addition to the Adviser’s profitability, the Independent Board Members also considered the profitability of the Sub-Adviser from its relationship with the Nuveen funds. The Independent Board Members reviewed the Sub-Adviser’s revenues, expenses and revenue margins (pre- and post-tax) for its advisory activities for the calendar year ended December 31, 2016. The Independent Board Members also reviewed a profitability analysis reflecting the revenues, expenses and revenue margin (pre- and post-tax) by asset type for the Sub-Adviser for the calendar year ending December 31, 2016.

In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser for its services to the Funds as well as indirect benefits (such as soft dollar arrangements), if any, the Fund Adviser and its affiliates received or were expected to receive that were directly attributable to the management of a Fund. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds.

Based on a consideration of all the information provided, the Board noted that Nuveen’s and the Sub-Adviser’s level of profitability was acceptable and not unreasonable in light of the services provided.

D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

When evaluating the level of the advisory fees, the Independent Board Members considered whether there will be any economies of scale that may be realized by the Fund Adviser as a Fund grows and the extent to which these economies were shared with the Funds and shareholders. The Board recognized that economies of scale are difficult to measure with precision; however, the Board considered that there were several ways the Fund Adviser may share the benefits of economies of scale with the Nuveen funds, including through breakpoints in the management fee schedule reducing the fee rates as asset levels grow, fee waivers and/or expense limitation agreements and the Adviser’s investment in its business which can enhance the services provided to the Nuveen funds. With respect to the fee structure, the Independent Board Members have recognized that economies of scale may be realized when a particular fund grows, but also when the total size of the fund complex grows (even if the assets of a particular fund in the complex have not changed or have decreased). Accordingly, subject to certain exceptions, the funds in the Nuveen complex pay a management fee to the Adviser which is generally comprised of a fund-level component and complex-level component, each of which has a breakpoint schedule. Subject to certain exceptions, the fund-level fee component declines as the assets of the particular fund grow and the complex-level fee component declines when eligible assets of all the funds (except for Nuveen ETFs which are subject to a unitary fee) in the Nuveen complex combined grow. As noted, the Board had recently approved revised fund-level breakpoint schedules for the Nuveen open-end funds which resulted in additional breakpoints added to the breakpoint schedules and therefore the potential for additional savings as a fund’s asset level grows and immediate savings for the Intermediate Fund.

The Independent Board Members also noted that additional economies of scale were shared with shareholders of the Inflation Protected Fund and the Intermediate Fund through their temporary and/or permanent expense caps. The Independent Board Members reviewed the breakpoint and complex-wide schedules and any savings achieved from fee waivers and expense reimbursements (if applicable), as well as fee reductions as a result of the fund-level and complex-level breakpoints for the 2016 calendar year. In addition, the Independent Board Members recognized the Adviser’s ongoing investment in its business to expand or enhance the services provided to the benefit of all of the Nuveen funds.

Based on their review, the Board concluded that the current fee structure was acceptable and reflected economies of scale to be shared with shareholders when assets under management increase.

E. Indirect Benefits

The Independent Board Members received and considered information regarding other benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the Nuveen funds, including compensation paid to affiliates of a Fund Adviser for services rendered to the

246 NUVEEN

funds and research services received by a Fund Adviser from broker-dealers that execute fund trades. In this regard, the Independent Board Members recognized that an affiliate of the Adviser served as the principal underwriter for the open-end funds providing distribution and shareholder services to the funds for which it may be compensated through sales charges and distribution fees and shareholder services fees pursuant to the funds’ Rule 12b-1 distribution and service plan or otherwise. The Independent Board Members therefore took into account, among other things, the 12b-1 fees retained by Nuveen during the calendar year ending December 31, 2016.

In addition to the above, the Independent Board Members considered that the Funds’ portfolio transactions are allocated by the Sub-Adviser and the Sub-Adviser may benefit from research received from broker-dealers that execute Fund portfolio transactions. The Board noted, however, that with respect to transactions in fixed income securities, such securities generally trade on a principal basis and do not generate soft dollar credits. Although the Board recognized the Sub-Adviser may benefit from a soft dollar arrangement if it does not have to pay for this research out of its own assets, the Board also recognized that the research may benefit the Funds to the extent it enhances the ability of the Sub-Adviser to manage the Funds.

Based on their review, the Board concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.

F. Other Considerations

The Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, concluded that the terms of each Advisory Agreement were fair and reasonable, that the respective Fund Adviser’s fees were reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.

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Nuveen:
	Serving Investors for Generations
	Since 1898, financial advisors and their clients have relied on Nuveen to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality solutions designed to be integral components of a well-diversified core portfolio.
		Focused on meeting investor needs. Nuveen is the investment management arm of TIAA. We have grown into one of the world’s premier global asset managers, with specialist knowledge across all major asset classes and particular strength in solutions that provide income for investors and that draw on our expertise in alternatives and responsible investing. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources that a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create solutions which help them secure their financial future.
		Find out how we can help you. To learn more about how the products and services of Nuveen may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen , 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money. Learn more about Nuveen Funds at: www.nuveen.com/mf
Securities offered through Nuveen Securities, LLC, member FINRA and SIPC | 333 West Wacker Drive Chicago, IL 60606 | www.nuveen.com

MSA-NAT-0917D        304535-INV-B-11/18

Item 2. Code of Ethics.

Not applicable to this filing.

Item 3. Audit Committee Financial Expert.

Not applicable to this filing.

Item 4. Principal Accountant Fees and Services.

Not applicable to this filing.

Item 5. Audit Committee of Listed Registrants.

Not applicable to this registrant.

Item 6. Schedule of Investments.

(a) See Portfolio of Investments in Item 1.

(b) Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to this registrant.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to this registrant.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to this registrant.

Item 10. Submission of Matters to a Vote of Security Holders.

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

Item 11. Controls and Procedures.

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

File the exhibits listed below as part of this Form.

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

(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See EX-99.CERT attached hereto.

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

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Nuveen Investment Funds, Inc.

By	(Signature and Title)	/s/ Kathleen L. Prudhomme
		Kathleen L. Prudhomme Vice President and Secretary

Date: December 7, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	(Signature and Title)	/s/ Greg A. Bottjer
		Greg A. Bottjer Chief Administrative Officer (principal executive officer)

Date: December 7, 2017

By	(Signature and Title)	/s/ Stephen D. Foy
		Stephen D. Foy Vice President and Controller (principal financial officer)

Date: December 7, 2017