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)

Christopher M. Rohrbacher

Vice President and Secretary

333 West Wacker Drive,

Chicago, IL 60606

(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: March 31, 2019

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

31 March

2019

Nuveen Municipal

Bond Funds

Fund Name	Class A	Class C	Class C2	Class R6	Class I
Nuveen All-American Municipal Bond Fund	FLAAX	FACCX	FAACX	FAAWX	FAARX
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

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Funds’ annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Funds’ website (www.nuveen.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Funds electronically anytime by contacting the financial intermediary (such as a broker-dealer or bank) through which you hold your Fund shares or, if you are a direct investor, by enrolling at www.nuveen.com/e-reports.

You may elect to receive all future shareholder reports in paper free of charge at any time by contacting your financial intermediary or, if you are a direct investor, by calling 800-257-8787 and selecting option #1. Your election to receive reports in paper will apply to all funds held in your account with your financial intermediary or, if you are a direct investor, to all your directly held Nuveen Funds and any other directly held funds within the same group of related investment companies.

Annual Report

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Table

of Contents

Chairman’s Letter to Shareholders	4
Portfolio Managers’ Comments	5
Risk Considerations and Dividend Information	12
Fund Performance, Expense Ratios and Effective Leverage Ratios	15
Yields	24
Holding Summaries	26
Expense Examples	30
Report of Independent Registered Public Accounting Firm	32
Portfolios of Investments	33
Statement of Assets and Liabilities	211
Statement of Operations	212
Statement of Changes in Net Assets	213
Financial Highlights	216
Notes to Financial Statements	224
Additional Fund Information	237
Glossary of Terms Used in this Report	238
Annual Investment Management Agreement Approval Process	240
Trustees and Officers	245

3

Chairman’s Letter to Shareholders

Dear Shareholders,

Financial markets rallied in the early months of 2019, in sharp contrast to the downturn at the end of 2018, leaving investors to wonder whether such bullishness is warranted or sustainable. By the close of 2018, economic softness in China, Europe and Japan had proven more persistent than expected. The temporary boost to the U.S. economy from tax law changes appeared to be fading. Corporate earnings and profits were slowing, and some corporate managements, especially at high-profile technology companies, were downgrading their outlooks. Politics remained unpredictable, most notably with Brexit and U.S.-China trade talks ongoing. The European Central Bank (ECB) ended its crisis-era monetary stimulus program with pledges to keep interest rates low for an extended period, while at the same time, the U.S. Federal Reserve (Fed) had planned to continue raising interest rates into 2019.

As the new year began, economic data have remained a mixed bag, and first quarter 2019 corporate earnings reports have included both high-profile disappointments and positive surprises, although expectations were lower heading into the quarter. Market sentiment shifted significantly after both the Fed and ECB turned remarkably more dovish in their interest rate projections and lowered their growth forecasts. In fact, neither central bank currently expects to raise their respective interest rates during 2019. While the U.S. and China initially appeared to be making progress on trade talks, negotiations have stalled more recently. While these events did reduce some of the markets’ uncertainty, downside risks still exist.

Nevertheless, we believe the likelihood of a near-term recession remains low. Global growth is indeed slowing, but it’s still positive. The U.S. economy remains strong, even in the face of late cycle pressures. Low unemployment and firming wages should continue to support consumer spending, and the November mid-term elections resulted in change, but no major surprises. In China, the government remains committed to using fiscal stimulus to offset softening exports. Europe also remains vulnerable to trade policy as well as Brexit uncertainty, but underlying strengths in European economies, including low unemployment that drives domestic demand, remain supportive of a mild expansion. In a slower growth environment, there are opportunities for investors who seek them more selectively.

We expect volatility and challenging conditions to persist in 2019 but also think there is potential for upside. You can prepare your investment portfolio by working with your financial advisor to review your goals, timeline 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,

Terence J. Toth

Chairman of the Board

May 24, 2019

4

Portfolio Managers’ Comments

Nuveen All-American Municipal Bond Fund

Nuveen Intermediate Duration Municipal Bond Fund

Nuveen Limited Term Municipal Bond Fund

Nuveen Short Term Municipal Bond Fund

These Funds feature portfolio management by Nuveen Asset Management, LLC (NAM), 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. 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 economic and market conditions, key investment strategies, and the Fund’s performance for the twelve-month reporting period ended March 31, 2019.

What factors affected the U.S. economy and the national municipal bond market during the twelve-month reporting period ended March 31, 2019?

The U.S. economy continued its solid expansion, with economic activity rebounding in early 2019 after a slump at the end of 2018. In the first quarter of 2019, gross domestic product (GDP), which measures the value of goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes, grew at an annualized rate of 3.2%, according to the Bureau of Economic Analysis “advance” estimate. A jump in exports and a buildup of inventories helped offset slower consumer and business spending in the first three months of 2019. For the full year 2018, U.S. GDP growth came in at 2.9%, as economic activity cooled over the second half of 2018 after peaking at 4.2% (annualized) in the second quarter of 2018.

Consumer spending, the largest driver of the economy, remained well supported by low unemployment, wage gains and tax cuts. As reported by the Bureau of Labor Statistics, the unemployment rate fell to 3.8% in March 2019 from 4.0% in March 2018 and job gains averaged around 211,000 per month for the past twelve months. As the jobs market has tightened, average hourly earnings grew at an annualized rate of 3.2% in March 2019. However, falling energy prices led to a slower rate of inflation over the past twelve months. The Consumer Price Index (CPI) increased 1.9% over the twelve-month reporting period ended March 31, 2019 before seasonal adjustment, as reported by the Bureau of Labor Statistics.

Low mortgage rates and low inventory drove home prices higher during this recovery cycle. But the pace of price increases has slowed as mortgage rates drifted higher and homes have become less affordable. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, was up 4.0% year-over-year in February 2019 (most recent data

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy 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. 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.

5

Portfolio Managers’ Comments (continued)

available at the time this report was prepared). The 10-City and 20-City Composites reported year-over-year increases of 2.6% and 3.0%, respectively.

As some data began pointing to slower momentum in the overall economy, the Federal Reserve (Fed) notably shifted its stance. From December 2015 through December 2018, the Fed had gradually lifted its main policy interest rate to prevent the economy from overheating. In its final meeting of 2018, the Fed indicated that two more rate hikes might be forthcoming in 2019, roiling the markets, which had expected a more dovish tone. However, as more recent data revealed a mixed picture of the economy, the Fed said it would adopt a more “patient” approach, signaling the possibility of no rate hikes in 2019. As expected, the Fed held rates steady at its January 2019 committee meeting. At its March 2019 meeting, the Fed’s forecast showed that additional rate hikes in 2019 were unlikely, and Chairman Powell indicated that the Fed’s next move could be either a rate cut or a rate hike. The Fed again kept rates unchanged, as expected, and announced it will discontinue rolling assets off its balance sheet sooner than expected.

During the twelve-month reporting period, geopolitical news remained a prominent market driver. The U.S. moved forward with tariffs on imported goods from China, as well as on steel and aluminum from Canada, Mexico and Europe. These countries announced retaliatory measures in kind, intensifying concerns about a trade war, although there have been some positive developments. In July 2018, the U.S. and the European Union announced they would refrain from further tariffs while they negotiate trade terms, and in October 2018, the U.S., Mexico and Canada agreed to a new trade deal to replace the North American Free Trade Agreement. At the November 2018 G-20 summit, the U.S. and China settled on a 90-day trade truce, and after the countries resumed trade talks in early 2019, President Trump said he would not increase the tariffs in March 2019 as planned. Brexit negotiations continued to be uncertain, as a deal was not passed in time for the original March 29, 2019 deadline. Prime Minister Theresa May faced significant difficulty getting a plan approved in Parliament, compelling the European Union to agree to an October 31, 2019 delay. Europe also contended with Italy’s new euroskeptic coalition government, the “yellow vest” protests in France, immigration policy concerns and political risk in Turkey. The Trump administration issued sanctions on Russian oligarchs and companies in April 2018 (and later eased some of the restrictions) and on Iran in November 2018 after withdrawing from the 2015 nuclear agreement. After topping a four-year high in October 2018, oil prices fell sharply through December 2018 on concerns of a global supply glut due to weaker global growth and the temporary exemptions from the Iranian oil ban granted to several countries. However, oil prices recovered much of those losses over the early months of 2019 as supply conditions looked tighter than expected. On the Korean peninsula, the leaders of South Korea and North Korea met during April 2018 and jointly announced a commitment toward peace, while the U.S. and North Korea held denuclearization summits in June 2018 and February 2019 without securing an agreement. In late December 2018, the U.S. government entered a 35-day partial shutdown due to an impasse on border security funding but averted a second shutdown after the government passed a funding bill in February 2019.

Municipal bonds delivered positive performance in this reporting period. Interest rates were rising through much of the reporting period, as a strong economic backdrop kept the Fed on its course of monetary tightening. The 10-year U.S. Treasury yield peaked at 3.24% in November 2018. However, in December 2018, market volatility spiked as uncertain trade policy, Brexit negotiations, and weak macro data in Europe and China weighed on the U.S. growth outlook. Equities and riskier segments of the bond market sold off sharply in the fourth quarter of 2018. After the Fed’s December meeting, investor expectations for a pause in rate increases drove repricing in the markets, pressuring long-term interest rates meaningfully lower through the end of the reporting period. While the U.S. Treasury yield curve flattened over this reporting period, the municipal yield curve “twisted” by flattening at the short end and steepening at the long end of the curve. For the twelve-month period overall, municipal bond yields were marginally lower, belying larger intra-period swings.

Supply and demand conditions in the municipal bond market were favorable to performance in this reporting period, particularly in the latter months. Issuance has been subdued since the passage of the Tax Cuts and Jobs Act of 2017. Because new issue advance refunding bonds are no longer tax exempt under the new tax law, the total supply of municipal bonds has decreased, boosting the scarcity value of existing municipal bonds. Municipal bond issuance nationwide totaled $421.9 billion in this reporting period, a 17.4% decrease from the issuance for the twelve-month reporting period ended March 31, 2018. Nevertheless, the overall low level of interest rates encouraged issuers to continue to actively refund their outstanding debt. In these transactions the issuers are issuing new bonds and taking the bond proceeds and redeeming (calling) old bonds. These refunding transactions have ranged from 40% to 60% of total issuance over the past few years. Thus, the net issuance (all bonds issued less bonds redeemed) is actually much lower than the gross issuance. So, while gross issuance volume has been strong, the net has not, and this was an overall positive technical

6

factor on municipal bond investment performance in recent years. Although the pace of refundings is slowing, net negative issuance is expected to continue.

Low global interest rates have continued to drive investors toward higher after-tax yielding assets, including U.S. municipal bonds. The Fed’s pivot to a more dovish stance in early 2019 also brought investors back to fixed income markets, including municipal bonds, driving large inflows into the asset class in the early months of 2019. Additionally, as tax payers have begun to assess the impact of the 2017 tax law, which caps the state and local tax (SALT) deduction for individuals, demand for tax-exempt municipal bonds, especially in states with high income and/or property taxes, is expected to increase.

How did the Funds perform during the twelve-month reporting period ended March 31, 2019?

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 one-year, five-year and ten-year and/or since-inception periods ended March 31, 2019. The returns for each Fund’s Class A Shares at net asset value (NAV) are compared with the performance of its corresponding benchmark and Lipper classification average.

During the reporting period, the Nuveen Limited Term Municipal Bond Fund outperformed its benchmark index and the Nuveen All-American Municipal Bond Fund performed essentially in line with its index. The Nuveen Intermediate Duration Municipal Bond Fund and the Nuveen Short Term Municipal Bond Fund both lagged their respective indexes. All four Funds outperformed their respective Lipper classification averages to varying degrees.

What strategies were used to manage the Funds during the reporting period and how did these strategies influence performance?

All of the Funds continued to employ the same fundamental investment strategies and tactics long relied upon by 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

The Nuveen All American Municipal Bond Fund’s Class A Shares at NAV performed in line with the S&P Municipal Bond Index and outperformed the Lipper General & Insured Municipal Debt Funds Classification Average for the twelve-month reporting period ended March 31, 2019.

Relative to the index, the Fund’s duration and yield curve positioning contributed to performance. As interest rates on municipal bonds declined overall, our longer-than-index duration (meaning the Fund was more sensitive to the beneficial effects of falling long-term rates) proved beneficial. More specifically, our overweight in bonds on the long end of the yield curve and simultaneous underweight in shorter-duration bonds contributed.

Sector allocation and security selection were positive factors. An overweight in dedicated-tax bonds added value, in light of the category’s relative outperformance. The Fund also benefited from overweights in the hospital and transportation sectors, both of which outpaced the index.

Within the transportation category, we saw particularly good performance from airport-related issuers, including bonds for the LINXS automated people-mover system under construction at Los Angeles International Airport. We also benefited from holdings in San Francisco and Sacramento airport bonds. Another outperforming transportation-related issuer was Bronx Parking Development Company, an operator of parking facilities near Yankee Stadium. These bonds gained in value as investors have become more optimistic about the issuer’s underlying credit quality due to increased utilization of its facilities.

In the tobacco sector, we saw a mixed performance impact. On the positive side, our relative underweighting in the category contributed to performance, as the sector underperformed the index due to negative credit trends surrounding tobacco usage. In addition, our individual holdings in this sector underperformed, due to our limited exposure to zero-coupon tobacco bonds, which as a group performed especially well during the reporting period.

7

Portfolio Managers’ Comments (continued)

Several of our state and local general obligation (GO) positions were standout performers. At the state level, GO issues of Illinois, Washington and California were all meaningful contributors. On the local side, we saw strong results from Chicago GO and Chicago Board of Education bonds, which have benefited as investors have become more optimistic about the credit prospects for this financially challenged city. We also saw good results from various highly rated local government and school district bonds, as well as long-dated California zero-coupon issues.

Exposure to the nursing home sector added value, which included a position in Colorado Health and Finance bonds for the Colorado Senior Residences Project. Also boosting our results was exposure to the corporate-backed industrial development revenue bond sector, primarily due to strong performance from our investment in FirstEnergy Solutions, an energy supplier whose outlook for a financial recovery in bankruptcy is seen to have improved.

Although we experienced relatively few individual credit challenges in the portfolio, two positions stood out as notable detractors during the reporting period. First, in the multi-family housing area, our holding in Capital Trust Agency bonds for Gardens Apartments proved challenging. A second meaningful detractor was our holding in bonds of Lombard Convention Center. In both cases, the issuers were experiencing financial challenges that weighed on the securities’ prices.

Throughout the reporting period, we maintained our consistent management approach in seeking to generate tax-exempt income for shareholders. To accomplish this objective, we kept the portfolio’s duration at the longer end of our target range, so as to capitalize upon the higher yields available from longer-dated issues.

During the first half of the reporting period, we were more active than usual in adding higher quality debt to the portfolio, as we were finding better values in this part of the market in light of narrowing credit spreads. As the reporting period progressed, however, and credit spreads began to widen in the fourth quarter of the year, we were again finding increased value among lower-rated bonds and added a number of high yield opportunities at more attractive credit spreads.

As part of our typical investment process, we sought to maximize our allocation to bonds with lower and below investment grade credit ratings, which we regularly like for their higher yields. The Fund’s prospectus allows us to invest up to 20% of net assets in securities rated below BBB, which is the lowest credit tier of the investment grade universe. We often look to max out this exposure because of our confidence in Nuveen’s credit research capabilities.

During the reporting period, however, the supply of high yield bonds did not always grow as quickly as the Fund in light of new investment inflows. Accordingly, the constrained supply of high yield deals sometimes made it challenging to achieve our full allotment of below investment grade bonds. As of the end of the reporting period, we did remain relatively close to our threshold, with exposure to bonds rated BB and below at about 17% of the portfolio. As of March 31, 2019, consistent with our preference for higher yielding, lower rated debt, more than 60% of the portfolio was invested in either lower investment grade or below investment grade securities.

During the reporting period, we used Treasury futures, which had a negligible impact on the Fund’s performance.

Nuveen Intermediate Duration Municipal Bond Fund

The Nuveen Intermediate Duration Municipal Bond Fund’s Class A Shares at NAV underperformed the S&P Municipal Bond Intermediate Index while outperforming its Lipper Intermediate Municipal Debt Funds Classification Average for the twelve-month reporting period ended March 31, 2019.

For the full reporting period, investors in municipal bonds benefited from generally falling interest rates, especially in intermediate segments of the yield curve. Given the Fund’s natural emphasis on intermediate-duration municipal securities, this environment provided a positive backdrop for performance in absolute terms.

Meanwhile, relative to the S&P Municipal Bond Intermediate Index, sector positioning in two primary areas hampered the Fund’s performance. First, an overweight in the tobacco sector detracted from results. During the reporting period, tobacco bonds lagged the index, reflecting growing signs of a decline in tobacco consumption. Secondly, we maintained an overweight in pre-refunded bonds, whose very short maturities and high credit quality were detrimental factors in a market environment more often rewarding

8

bonds with the opposite characteristics. On the positive side, an overweight in single-family housing bonds added value, given the segment’s strong relative performance.

Overall, the Fund’s neutral interest rate positioning meant that duration had little overall impact on relative performance. We did, however, benefit from the yield curve positioning we employed to achieve that neutral stance. Specifically, our overweighting of bonds on the longer end of the intermediate yield curve added value, given these securities’ outperformance. This allocation was sufficiently helpful to overcome the negative impact of our simultaneous overweighting on the short end of the yield curve, as bonds in this part of the market lagged their longer-dated counterparts.

Credit quality positioning also contributed to relative performance. During the reporting period, bonds with lower investment grade and below investment grade credit ratings generally fared better than higher quality issues, especially in the first quarter of 2019, when investors became more comfortable assuming credit risk. Accordingly, our relative overweighting in bonds with credit ratings of A or lower contributed to results in light of these securities’ relative outperformance.

Regarding individual security selection, our allocation to bonds of FirstEnergy Solutions added particular value. These securities regained some of their losses from earlier reporting periods, as optimism grew about the company’s emergence from bankruptcy and the anticipated financial recoveries for bondholders.

While managing the Fund during the twelve-month reporting period, we focused on keeping the portfolio’s duration close to that of the benchmark. We believed this was a prudent strategy for now, in light of the Fed’s decision to pause its cycle of interest rate increases, even as we believed strong underlying economic data would not preclude rate hikes in the future. We achieved our neutral portfolio positioning by predominantly owning a balance of longer-intermediate bonds and very-short-dated issues and when owned together, these securities allowed us to achieve our desired average duration.

Given healthy investment inflows, we were relatively active in putting cash flow to work in the municipal bond market. New purchases reflected our pursuit of the Fund’s twin objectives: capital preservation and a high level of income for shareholders. When making new purchases, we continued to pay close attention to our duration target, as well as to the Fund’s sector and credit exposures. We were comfortable with the Fund’s existing allocations coming into the reporting period and thus pleased to have kept them relatively close to their starting points over the reporting period.

We continued to favor bonds with lower investment grade credit ratings when we identified favorable risk/reward trade-offs. One significant exception, however, was our purchase throughout the reporting period of bonds for state housing programs, many of which are higher rated. State housing bonds were providing particular value, in our opinion, which led us to increase the Fund’s exposure to this area.

Other categories in which we saw opportunity included the transportation sector, and especially airport issuers, which have benefited from increased air travel fueled by a strong economy; health care; and investor-owned utilities. Many tax-exempt utility bonds have short maturities, so these holdings allowed us to balance our longer-dated purchases as we sought to manage the portfolio’s duration.

Nuveen Limited Term Municipal Bond Fund

During the twelve-month reporting period ended March 31, 2019, 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.

The Fund benefited from effective credit quality positioning. In a market environment that generally rewarded bonds with lower credit ratings over those with higher credit ratings, the portfolio’s overweight in bonds rated A and lower added to relative performance.

Sector and security selection also contributed to performance. Most notably, the Fund benefited from a relative underweight in pre-refunded bonds. These securities lagged the index, as their very short durations and high credit quality left them out of favor relative to longer-duration, lower quality bonds.

9

Portfolio Managers’ Comments (continued)

Regarding individual security selection, our allocation to bonds of FirstEnergy Solutions added value. These securities regained some of their losses from earlier reporting periods, as optimism grew about the company’s emergence from bankruptcy and the anticipated financial recoveries for bondholders. The Fund also benefited from its position in State of Illinois bonds, which gained significantly in value as investors appeared to become more optimistic about the state’s financial condition.

Meanwhile, duration and yield curve positioning had a mixed performance impact. Coming into the reporting period, the Fund was somewhat conservatively positioned from an interest rate standpoint, meaning our duration was lower than that of the index. This conservative positioning reflected our expectation that the Fed would raise rates several times in 2019, however, the Fed indicated that it did not plan to raise interest rates again in the near future. The municipal bond market rallied in response and the portfolio’s limited interest rate sensitivity subsequently weighed on relative performance. We did, however, benefit from effective yield curve positioning. Specifically, our overweight on the longer end of the limited-term municipal yield curve contributed to the Fund’s relative performance, given the outperformance of these securities. Tempering that positive effect was our overweight on the short end of the curve, as these securities lagged the index.

In managing the portfolio this reporting period, we remained focused on the Fund’s objectives of preserving capital and generating income for shareholders. Throughout the reporting period, we kept a close eye on the Fund’s duration. In the first half of the reporting period, we often emphasized shorter-duration bonds, as we wished to limit sensitivity to rising rates. In the second half of the reporting period, meanwhile, as the Fed’s intention to leave rates alone became clearer, we became more comfortable extending the Fund’s duration closer to a neutral stance. We accomplished this goal by often favoring longer-duration bonds in the final quarter of the reporting period.

In making new purchases during the reporting period, we added bonds across a variety of sectors. Highlights of these purchases included a variety of airport transportation, utility and health care bonds. When finding suitable opportunities to do so, we favored lower rated bonds we believed were offering a desirable risk/reward trade-off. Proceeds for new purchases generally came from new investment inflows and bond maturities.

Overall, however, we were comfortable with the Fund’s existing positioning coming into the reporting period, so when buying and occasionally selling bonds, we were successful in keeping the portfolio’s sector and credit quality exposures relatively consistent throughout the twelve- month reporting period.

Nuveen Short Term Municipal Bond Fund

The Nuveen Short Term Municipal Bond Fund’s Class A Shares at NAV underperformed the S&P Municipal Bond Short Index but outperformed the Lipper Short Municipal Debt Funds Classification Average for the twelve-month reporting period ended March 31, 2019.

The Fund benefited from its duration (interest rate) and yield curve positioning. Between the start of the reporting period last April 2018 and the late fall of 2018, municipal yields drifted higher. Beginning in December 2018, however, and continuing through the end of the reporting period, the municipal bond market rallied as yields declined. Over the course of the reporting period, we were modestly increasing the Fund’s duration, especially in the latter part of 2018. As municipal rates fell, this strategy added to the Fund’s result during the market rally late in the reporting period.

In particular, overweighting the longer end of our investment universe, specifically bonds with effective durations of three to five years, added to relative performance. A partly counterbalancing negative factor was exposure to bonds with very short durations, often with maturities of less than one year. We held these securities for cash-management purposes or, in the case of bonds with higher book yields, to support the Fund’s dividend.

Relative to the index, the Fund’s overweight in the industrial development revenue and health care sectors, two outperforming categories, contributed to performance. The Fund also benefitted from a relative underweight in pre-refunded bonds. These securities lagged the index, as their very short duration and high credit quality left them out of favor relative to longer duration, lower quality bonds.

10

Credit quality positioning added value. With lower quality bonds generally outperforming higher quality bonds during the reporting period, our overweighting in bonds with lower investment grade and below investment grade credit ratings, especially those rated between A to BB, contributed to relative performance.

Throughout the reporting period, we took advantage of opportunities to buy bonds subject to the alternative minimum tax (AMT). These securities, which added to the Fund’s relative performance this reporting period, typically come to market offering higher yields than comparably structured non-AMT bonds. We liked these securities for their higher income, as well as our belief that demand for AMT bonds may increase over time, as fewer taxpayers find themselves subject to the tax in light of federal tax law changes. In our view, these bonds offered an attractive combination of higher income and potential for spread narrowing. Our AMT-bond additions this reporting period included various airport bonds, as well as certain student-loan and industrial development revenue issues.

Other notable purchases included prepaid natural gas bonds. (Municipalities issue prepaid gas bonds to generate proceeds used to lock in a price for natural gas. They are generally backed by a bank or a financial institution, so their credit quality tends to be tied to that institution’s credit.) Issuance of prepaid gas bonds has increased in recent years, particularly on the short end of the yield curve that represents this Fund’s investment universe, which opened up numerous such purchase opportunities.

In the first six months of the reporting period, we most often bought bonds at the longer end of our investment universe. In particular, we favored the three- to five-year portion of the yield curve for the better income available in that part of the market. Once we reached our duration target by the second half of the reporting period, we also began adding shorter-maturity bonds to the portfolio. We were more willing to buy bonds with durations as short as one year because of a flattening yield curve that made these additions relatively more attractive.

To pay for our purchases, we used the proceeds from new investment inflows, as well as from maturing bonds. We also periodically engaged in tax-loss swaps, a strategy that involves selling bonds at a loss and then using the sale proceeds to buy similarly structured but better yielding bonds. With this strategy, we could improve the Fund’s income while simultaneously creating tax losses to apply against capital gains in the future.

An Update on FirstEnergy Solutions Corp.

FirstEnergy Solutions Corp. and all of its subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code on April 1, 2018. FirstEnergy Solutions and its subsidiaries specialize in coal and nuclear energy production. It is one of the main energy producers in the state of Ohio and a major energy provider in Pennsylvania. Because of the challenging market environment for nuclear and coal power in the face of inexpensive natural gas, FirstEnergy Corp., FirstEnergy Solution’s parent announced in late 2016 that it would begin a strategic review of its generation assets. FirstEnergy Solutions is a unique corporate issuer in that the majority of its debt was issued in the municipal market to finance pollution control and waste disposal for its coal and nuclear plants. A substantial amount of bondholders, of which Nuveen Funds are included, entered into an “Agreement in Principal” with FirstEnergy Corp., to resolve potential claims that bondholders may have against FirstEnergy Corp. The agreement is subject to the approval of the FirstEnergy Corp. board of directors, FirstEnergy Solutions and the bankruptcy court.

In terms of FirstEnergy Solutions holdings, shareholders should note that the Nuveen All American Municipal al Bond Fund had 0.61% exposure, Nuveen Intermediate Duration Municipal Bond Fund had 1.25% exposure, Nuveen Limited Term Municipal Bond Fund had 1.51% exposure and the Nuveen Short Term Municipal Bond Fund had 0.10% exposure, which was a mix of unsecured and secured holdings.

11

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 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.

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. Distributions to shareholders are determined on a tax basis, which may differ from amounts recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund would report a negative undistributed net ordinary income. Refer to Note 6 – Income Tax Information for additional information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period.

12

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 is sourced or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders will be notified of those sources. For financial reporting purposes, the per share amounts of each Fund’s distributions for the reporting period are presented in this report’s Financial Highlights. 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.

13

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14

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.

15

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 March 31, 2019

	Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		5.11%		4.74%		6.69%
Class A Shares at maximum Offering Price		0.71%		3.84%		6.23%
S&P Municipal Bond Index		5.12%		3.73%		4.94%
Lipper General & Insured Municipal Debt Funds Classification Average		4.69%		3.58%		4.95%
Class C2 Shares		4.60%		4.17%		6.11%
Class I Shares		5.31%		4.95%		6.89%

	Average Annual
	1-Year		5-Year		Since Inception
Class C Shares		4.29%		3.90%		4.13%
Class R6 Shares		5.40%		N/A		2.54%

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		0.72%		1.52%		1.27%		0.48%		0.52%

Effective Leverage Ratio as of March 31, 2019

Effective Leverage Ratio 2.93%

16

Growth of an Assumed $10,000 Investment as of March 31, 2019 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

17

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 March 31, 2019

	Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		5.29%		3.37%		4.31%
Class A Shares at maximum Offering Price		2.14%		2.74%		3.99%
S&P Municipal Bond Intermediate Index		5.48%		3.36%		4.43%
Lipper Intermediate Municipal Debt Funds Classification Average		4.34%		2.70%		3.78%
Class C2 Shares		4.51%		2.78%		3.72%
Class I Shares		5.37%		3.56%		4.50%

	Average Annual
	1-Year		5-Year		Since Inception
Class C Shares		4.35%		2.54%		2.58%

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		0.68%		1.48%		1.23%		0.48%

Effective Leverage Ratio as of March 31, 2019

Effective Leverage Ratio 0.18%

18

Growth of an Assumed $10,000 Investment as of March 31, 2019 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

19

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 March 31, 2019

	Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		4.27%		1.88%		2.74%
Class A Shares at maximum Offering Price		1.64%		1.37%		2.48%
S&P Municipal Bond Short-Intermediate Index		3.99%		2.01%		2.79%
Lipper Short-Intermediate Municipal Debt Funds Classification Average		3.68%		1.63%		2.39%
Class C2 Shares		3.97%		1.54%		2.39%
Class I Shares		4.46%		2.09%		2.95%

	Average Annual
	1-Year		5-Year		Since Inception
Class C Shares		3.52%		1.14%		1.09%

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		0.62%		1.42%		0.97%		0.42%

Effective Leverage Ratio as of March 31, 2019

Effective Leverage Ratio 0.00%

20

Growth of an Assumed $10,000 Investment as of March 31, 2019 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

21

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 March 31, 2019

	Average Annual
	1-Year		5-Year		10-Year
Class A Shares at NAV		2.42%		0.93%		1.83%
Class A Shares at maximum Offering Price		(0.18)%		0.42%		1.57%
S&P Municipal Bond Short Index		2.66%		1.20%		1.64%
Lipper Short Municipal Debt Funds Classification Average		2.18%		0.94%		1.36%
Class I Shares		2.62%		1.14%		2.02%

	Average Annual
	1-Year		5-Year		Since Inception
Class C Shares		1.53%		0.26%		0.22%
Class C2 Shares		2.05%		0.60%		0.82%

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 twelve months. 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		0.72%		1.52%		1.07%		0.51%

Effective Leverage Ratio as of March 31, 2019

Effective Leverage Ratio 0.00%

22

Growth of an Assumed $10,000 Investment as of March 31, 2019 – Class A Shares

The graphs do not reflect the deduction of taxes that a shareholder may pay on Fund distributions or the redemption of Fund shares.

23

Yields     as of March 31, 2019

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. If the fund did not receive a fee waiver/expense reimbursement during the period under its most recent agreement, subsidized and unsubsidized yields will be equal. 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 an assumed tax rate. Your actual income tax rates may differ from the assumed rate. Taxable-Equivalent Yield also takes into account the percentage of the fund’s income generated and paid by the fund (based on payments made during the previous calendar year) that was not exempt from federal income tax. Separately, 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		3.32%		2.69%		2.89%		3.65%		3.66%
SEC 30-Day Yield		2.51%		1.84%		2.08%		2.85%		2.82%
Taxable-Equivalent Yield (24.0%)2		3.30%		2.42%		2.74%		3.75%		3.71%

Nuveen Intermediate Duration Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		2.63%		1.94%		2.20%		2.90%
SEC 30-Day Yield-Subsidized		1.99%		1.27%		1.51%		2.25%
SEC 30-Day Yield-Unsubsidized		1.55%		0.83%		1.07%		1.56%
Taxable-Equivalent Yield-Subsidized (24.0%)2		2.62%		1.67%		1.99%		2.96%
Taxable-Equivalent Yield-Unsubsidized (24.0%)2		2.04%		1.09%		1.41%		2.05%

Nuveen Limited Term Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		1.90%		1.14%		1.57%		2.12%
SEC 30-Day Yield		1.58%		0.83%		1.27%		1.82%
Taxable-Equivalent Yield (24.0%)2		2.08%		1.09%		1.67%		2.39%

24

Nuveen Short Term Municipal Bond Fund

	Share Class
	Class A1		Class C		Class C2		Class I
Dividend Yield		1.36%		0.66%		1.07%		1.60%
SEC 30-Day Yield		1.33%		0.61%		1.05%		1.60%
Taxable-Equivalent Yield (24.0%)2		1.75%		0.80%		1.38%		2.11%

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.

25

Holding

Summaries     as of March 31, 2019

This data relates to the securities held in each Fund’s portfolio of investments as of the end of the 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. 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%
Other Assets Less Liabilities	2.0%
Net Assets Plus Floating Rate Obligations	102.2%
Borrowings	(0.6)%
Floating Rate Obligations	(1.6)%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

U.S. Guaranteed	6.9%
AAA	3.7%
AA	29.3%
A	26.0%
BBB	17.4%
BB or Lower	7.7%
N/R (not rated)	9.0%
Total	100%

Portfolio Composition

(% of total investments)

Transportation	17.6%
Health Care	15.9%
Tax Obligation/Limited	15.3%
Tax Obligation/General	10.4%
Education and Civic Organizations	9.1%
Utilities	8.5%
U.S. Guaranteed	6.6%
Water and Sewer	6.4%
Other	10.2%
Total	100%

States and Territories

(% of total municipal bonds)

California	17.7%
New York	11.3%
Illinois	9.4%
Texas	7.2%
Florida	5.4%
Colorado	5.2%
Pennsylvania	3.6%
Wisconsin	3.3%
Washington	2.7%
Indiana	2.5%
Ohio	2.3%
Massachusetts	2.0%
Virginia	1.9%
Arizona	1.7%
Kentucky	1.6%
Missouri	1.6%
Tennessee	1.5%
Other	19.1%
Total	100%

26

Holding Summaries as of March 31, 2019 (continued)

Nuveen Intermediate Duration Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	95.9%
Corporate Bonds	0.0%
Short-Term Municipal Bonds	2.1%
Other Assets Less Liabilities	2.0%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

U.S. Guaranteed	7.2%
AAA	5.3%
AA	27.7%
A	33.8%
BBB	14.6%
BB or Lower	5.4%
N/R (not rated)	6.0%
Total	100%

Portfolio Composition

(% of total investments)

Tax Obligation/Limited	17.1%
Transportation	15.8%
Health Care	14.5%
Tax Obligation/General	14.1%
Utilities	12.3%
U.S. Guaranteed	7.3%
Other	18.9%
Total	100%

States and Territories

(% of total municipal bonds)

Illinois	13.2%
Texas	6.6%
California	6.1%
New York	6.0%
New Jersey	5.7%
Pennsylvania	5.6%
Florida	5.2%
Ohio	4.5%
Indiana	3.3%
Wisconsin	2.8%
Colorado	2.8%
Arizona	2.6%
Louisiana	2.4%
Alabama	2.3%
Tennessee	1.9%
Oklahoma	1.8%
Nevada	1.6%
Michigan	1.6%
Georgia	1.5%
Kentucky	1.5%
Nebraska	1.4%
Other	19.6%
Total	100%

27

Nuveen Limited Term Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	97.3%
Corporate Bonds	0.0%
Short-Term Municipal Bonds	1.1%
Other Assets Less Liabilities	1.6%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

U.S. Guaranteed	2.0%
AAA	7.6%
AA	29.7%
A	39.4%
BBB	11.8%
BB or Lower	4.3%
N/R (not rated)	5.2%
Total	100%

Portfolio Composition

(% of total investments)

Utilities	20.9%
Tax Obligation/Limited	17.1%
Tax Obligation/General	15.7%
Health Care	15.3%
Transportation	10.5%
Education and Civic Organizations	3.7%
Other	16.8%
Total	100%

States and Territories

(% of total municipal bonds)

Illinois	11.0%
New York	6.3%
Ohio	6.0%
Pennsylvania	5.9%
Texas	5.4%
New Jersey	4.7%
Louisiana	4.7%
Florida	4.1%
Indiana	4.0%
Connecticut	4.0%
California	3.1%
Oklahoma	3.0%
Kentucky	2.8%
Alabama	2.6%
Washington	2.5%
Arizona	2.2%
Massachusetts	2.2%
Michigan	2.1%
Georgia	1.8%
New Mexico	1.7%
Other	19.9%
Total	100%

28

Holding Summaries as of March 31, 2019 (continued)

Nuveen Short Term Municipal Bond Fund

Fund Allocation

(% of net assets)

Long-Term Municipal Bonds	97.7%
Short-Term Municipal Bonds	1.5%
Other Assets Less Liabilities	0.8%
Net Assets	100%

Bond Credit Quality

(% of total investment exposure)

U.S. Guaranteed	0.2%
AAA	10.2%
AA	35.8%
A	38.0%
BBB	7.8%
BB or Lower	3.7%
N/R (not rated)	4.3%
Total	100%

Portfolio Composition

(% of total investments)

Transportation	21.5%
Tax Obligation/General	16.1%
Health Care	14.6%
Utilities	14.2%
Tax Obligation/Limited	12.2%
Education and Civic Organizations	7.4%
Other	14.0%
Total	100%

States and Territories

(% of total municipal bonds)

Texas	13.3%
Minnesota	11.3%
New York	7.7%
New Jersey	7.0%
Colorado	6.2%
California	5.2%
Illinois	5.0%
Alabama	4.3%
Kentucky	3.7%
Missouri	3.1%
Wisconsin	2.6%
Pennsylvania	2.3%
Nevada	2.0%
Florida	2.0%
Arizona	1.9%
Washington	1.7%
Tennessee	1.6%
Other	19.1%
Total	100%

29

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 March 31, 2019.

The beginning of the period is April 1, 2018.

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	$	1,043.90	$	1,039.80	$	1,040.90	$	1,044.80	$	1,044.90
Expenses Incurred During Period	$	3.48	$	7.57	$	6.29	$	2.31	$	2.46
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	$	1,021.66	$	1,017.65	$	1,018.90	$	1,022.81	$	1,022.66
Expenses Incurred During Period	$	3.45	$	7.49	$	6.23	$	2.28	$	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%, 0.45%, 0.48% for Classes A, C, C2, R6 and I, respectively, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).

30

Expense Examples (continued)

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	$	1,038.50	$	1,034.40	$	1,034.60	$	1,039.40
Expenses Incurred During Period	$	3.42	$	7.45	$	6.22	$	2.40
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	$	1,021.71	$	1,017.75	$	1,018.95	$	1,022.71
Expenses Incurred During Period	$	3.40	$	7.38	$	6.17	$	2.38

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.67%, 1.46%, 1.22%, and 0.47% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 182/365 (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	$	1,030.30	$	1,026.10	$	1,028.40	$	1,031.20
Expenses Incurred During Period	$	3.21	$	7.21	$	4.93	$	2.19
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	$	1,021.91	$	1,017.95	$	1,020.21	$	1,022.91
Expenses Incurred During Period	$	3.19	$	7.18	$	4.91	$	2.18

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.63%, 1.42%, 0.97% and 0.43% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).

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	$	1,020.10	$	1,015.10	$	1,018.20	$	1,021.00
Expenses Incurred During Period	$	3.65	$	7.63	$	5.41	$	2.63
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	$	1,017.50	$	1,019.70	$	1,022.46
Expenses Incurred During Period	$	3.65	$	7.64	$	5.42	$	2.64

For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of 0.72%, 1.51%, 1.07%, and 0.52% for Classes A, C, C2 and I, respectively, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).

31

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Nuveen Municipal Trust and the Board of Directors of Nuveen Investment Funds, Inc., and Shareholders of Nuveen All-American Municipal Bond Fund, Nuveen Intermediate Duration Municipal Bond Fund, Nuveen Limited Term Municipal Bond Fund and Nuveen Short Term Municipal Bond Fund

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of Nuveen All-American Municipal Bond Fund, Nuveen Intermediate Duration Municipal Bond Fund and Nuveen Limited Term Municipal Bond Fund (three of the funds constituting Nuveen Municipal Trust) and Nuveen Short Term Municipal Bond Fund (one of the funds constituting Nuveen Investment Funds, Inc.) (hereafter collectively referred to as the “Funds”) as of March 31, 2019, the related statements of operations for the year ended March 31, 2019, the statements of changes in net assets for each of the two years in the period ended March 31, 2019, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2019, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2019 and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2019 by correspondence with the custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

Chicago, Illinois

May 29, 2019

We have served as the auditor of one or more investment companies in Nuveen Funds since 2002.

32

Nuveen All-American Municipal Bond Fund

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 100.2%
		MUNICIPAL BONDS – 100.2%
		Alabama – 1.1%
$	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		BBB+	$	4,650,356
	14,175	Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46		No Opt. Call		A3		17,616,407
	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		522,425
	12,295	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Fixed Rate Series 2018A, 4.000%, 4/01/49 (Mandatory Put 4/01/24)		1/24 at 100.27		A3		13,135,240
	7,985	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 2, Fixed Rate Series 2018A, 4.000%, 6/01/49 (Mandatory Put 6/01/24)		3/24 at 100.29		A3		8,590,183
	39,175	Total Alabama						44,514,611
		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–		4,685,328
	2,000	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32		4/19 at 100.00		B3		1,999,960
	5,855	Total Alaska						6,685,288
		Arizona – 1.7%
	3,045	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2007, 2.700%, 12/01/37 (Mandatory Put 8/14/23) (AMT)		No Opt. Call		A+		3,099,231
	500	Gilbert Public Facilities Municipal Property Corporation, Arizona, Revenue Bonds, Series 2009, 5.500%, 7/01/27 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		504,965
		Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A:
	1,250	5.000%, 9/01/37		9/28 at 100.00		A2		1,443,925
	935	5.000%, 9/01/42		9/28 at 100.00		A2		1,064,535
	2,500	Maricopa County Union High School District 210 Phoenix, Arizona, General Obligation Bonds, School Improvement Project 2011 and 2017, Series 2018, 5.000%, 7/01/36		7/27 at 100.00		AAA		2,965,000
	215	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)		235,305
	4,000	Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/31 (Pre-refunded 7/01/20)		7/20 at 100.00		A+ (4)		4,171,760
		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		2,152,640
	6,000	5.500%, 7/01/39 – FGIC Insured		No Opt. Call		AA		8,142,780

33

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	610	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	$	624,908
	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		N/R (4)		1,105,970
		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–		2,196,577
	2,325	6.000%, 7/01/43		7/20 at 102.00		BB–		2,232,814
	195	6.000%, 7/01/48		7/20 at 102.00		BB–		185,439
	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–		441,206
	400	Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 6.500%, 2/01/48, 144A		2/24 at 100.00		N/R		411,272
	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		N/R (4)		830,973
	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)		4,008,217
		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		A3		1,225,550
	13,155	5.000%, 12/01/32		No Opt. Call		A3		16,230,507
	7,675	5.000%, 12/01/37		No Opt. Call		A3		9,607,028
		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		2,758,609
	1,080	6.000%, 12/01/32		12/21 at 100.00		N/R		1,141,279
	1,100	6.250%, 12/01/42		12/21 at 100.00		N/R		1,164,163
	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)		1,096,010
	727	Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds, Series 2005, 6.000%, 7/01/30		5/19 at 100.00		N/R		718,160
	60,127	Total Arizona						69,758,823
		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), 144A		6/20 at 100.00		N/R (4)		524,060
	1,020	6.000%, 6/01/40 (Pre-refunded 6/01/20), 144A		6/20 at 100.00		N/R (4)		1,072,010
	1,520	Total Arkansas						1,596,070

34

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California – 17.8%
		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+	$	16,410,665
	4,300	5.000%, 10/01/36		10/26 at 100.00		BBB+		4,847,691
	6,045	5.000%, 10/01/37		10/26 at 100.00		BBB+		6,794,640
		Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A:
	2,350	0.000%, 10/01/20 – AMBAC Insured (ETM)		No Opt. Call		Aaa		2,297,995
	50	0.000%, 10/01/20 – AMBAC Insured		No Opt. Call		BBB+		48,156
	10,000	Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Subordinate Fixed Rate Series 2017S-7, 4.000%, 4/01/38		4/27 at 100.00		AA–		10,683,100
	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		2,248,560
	5,450	California Educational Facilities Authority, Revenue Bonds, Chapman University, Series 2017B, 4.000%, 4/01/47		4/27 at 100.00		A2		5,685,876
	12,060	California Educational Facilities Authority, Revenue Bonds, Pepperdine University, Refunding Series 2016, 5.000%, 10/01/49		4/26 at 100.00		AA		13,829,081
	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–		11,548,800
	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–		5,300,535
	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+		1,893,546
	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		AA		3,367,544
		California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 2017:
	1,395	5.000%, 2/01/30		2/27 at 100.00		AA		1,671,824
	1,105	5.000%, 2/01/31		2/27 at 100.00		AA		1,311,182
	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–		5,198,124
	485	California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B, 5.000%, 10/01/44		10/24 at 100.00		AA–		546,323
	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–		2,434,134
	2,320	California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2013A, 5.000%, 8/15/52		8/23 at 100.00		AA–		2,542,558
	1,495	California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A, 5.000%, 7/01/46, 144A		7/26 at 100.00		BB		1,571,828
	3,255	California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45 (Pre-refunded 8/15/20)		8/20 at 100.00		BBB (4)		3,460,423
		California Municipal Finance Authority, Revenue Bonds, Biola University, Refunding Series 2017:
	470	5.000%, 10/01/29		10/27 at 100.00		Baa1		560,151
	1,165	5.000%, 10/01/30		10/27 at 100.00		Baa1		1,376,482

35

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A:
$	7,745	5.000%, 7/01/42		7/27 at 100.00		Baa2	$	8,686,560
	7,385	5.000%, 7/01/47		7/27 at 100.00		Baa2		8,216,108
	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		5,607,850
	29,900	California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 5.000%, 12/31/43 (AMT)		6/28 at 100.00		BBB+		34,036,964
		California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A:
	1,000	5.000%, 11/01/30		11/26 at 100.00		BBB–		1,135,980
	1,040	5.250%, 11/01/31		11/26 at 100.00		BBB–		1,181,700
		California Municipal Finance Authority, Revenue Bonds, Community Medical Centers, Series 2017A:
	1,750	5.000%, 2/01/42		2/27 at 100.00		A–		1,958,460
	8,875	5.000%, 2/01/47		2/27 at 100.00		A–		9,885,330
	640	California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Refunding Series 2019, 5.000%, 11/21/45, 144A		1/29 at 100.00		Baa3		736,358
	1,625	California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Refunding Series 2019, 5.000%, 7/01/39, 144A		1/29 at 100.00		Baa3		1,890,379
	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–		1,218,206
	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+		1,057,790
	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		A+ (4)		1,040,470
	33,630	California State University, Systemwide Revenue Bonds, Series 2018A, 5.000%, 11/01/48		11/28 at 100.00		Aa2		39,899,641
	700	California State, General Obligation Bonds, Tender Option Bond Trust 3162, 15.390%, 3/01/40 – AGM Insured (IF) (5)		3/20 at 100.00		AA		788,669
	1,400	California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 3/01/30		3/20 at 100.00		AA–		1,446,802
	12,000	California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 8/01/46		8/26 at 100.00		AA–		13,860,240
	3,960	California State, General Obligation Bonds, Various Purpose Series 2019, 5.000%, 4/01/49		4/29 at 100.00		AA–		4,727,844
	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		1,093,860
		California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A:
	1,100	5.000%, 12/01/41, 144A		6/26 at 100.00		BB		1,194,336
	1,365	5.000%, 12/01/46, 144A		6/26 at 100.00		BB		1,475,442
	26,380	5.250%, 12/01/56, 144A		6/26 at 100.00		BB		28,861,303
	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		A–		5,781,904

36

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	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+	$	1,759,155
	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		681,660
	2,900	California Statewide Communities Development Authority, Revenue Bonds, John Muir Health, Series 2018A, 5.000%, 12/01/57		12/27 at 100.00		A+		3,275,550
		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%, 5/15/47		5/27 at 100.00		Baa1		4,508,160
	2,750	5.000%, 5/15/50		5/27 at 100.00		Baa1		3,091,193
		California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:
	825	5.750%, 7/01/30		5/19 at 100.00		CC		807,510
	5,300	5.750%, 7/01/35		5/19 at 100.00		CC		5,200,254
	2,000	5.500%, 7/01/39		5/19 at 100.00		CC		1,965,860
	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–		5,495,293
	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+		454,792
		Department of Water and Power of the City of Los Angeles, California, Power System Revenue Bonds, Series 2018D:
	7,500	5.000%, 7/01/43		7/28 at 100.00		AA		8,901,450
	6,000	5.000%, 7/01/48		7/28 at 100.00		AA		7,081,440
	5,225	Department of Water and Power of the City of Los Angeles, California, Power System Revenue Bonds, Series 2019A, 5.250%, 7/01/49		1/29 at 100.00		AA		6,334,268
	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		6,714,934
	5,500	Escondido Union School District, San Diego County, California, General Obligation Bonds, Election 2014 Series 2018B, 4.000%, 8/01/47		8/27 at 100.00		AAA		5,805,855
	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)		520,623
		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		A–		1,045,052
	10,000	0.000%, 1/15/35 – AGM Insured		No Opt. Call		AA		5,936,500
	1,385	Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27 – AMBAC Insured		9/19 at 100.00		A		1,405,138
	6,285	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47		6/22 at 100.00		N/R		6,351,998
	46,250	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, First Subordinate Series 2007B-1, 0.000%, 6/01/47		4/19 at 19.49		CCC+		7,404,163
	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		1,041,900

37

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	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	$	1,822,511
	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		3,063,143
		Long Beach, California, Harbor Revenue Bonds, Series 2017:
	1,600	5.000%, 5/15/36 (AMT)		5/27 at 100.00		AA		1,875,072
	1,400	5.000%, 5/15/37 (AMT)		5/27 at 100.00		AA		1,632,666
	1,410	5.000%, 5/15/40 (AMT)		5/27 at 100.00		AA		1,629,410
		Los Angeles County Metropolitan Transportation Authority, California, Proposition C Sales Tax Revenue Bonds, Green Senior Lien Series 2019A:
	9,330	5.000%, 7/01/39		7/28 at 100.00		AAA		11,279,503
	10,340	5.000%, 7/01/44		7/28 at 100.00		AAA		12,359,505
	15,265	Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C, 5.000%, 5/15/44 (AMT)		11/27 at 100.00		AA–		17,672,443
	10,000	Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018D, 5.000%, 5/15/48 (AMT)		5/29 at 100.00		AA–		11,758,700
		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+		2,745,901
	2,500	5.000%, 7/01/35		1/27 at 100.00		AA+		2,974,150
	7,500	Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2018A, 5.000%, 7/01/48		1/28 at 100.00		AA+		8,812,650
	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)		1,012,900
		Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2008 Series 2018B-1:
	8,945	5.000%, 7/01/34 – BAM Insured		1/28 at 100.00		AA		10,755,915
	7,475	5.000%, 7/01/38		1/28 at 100.00		AAA		8,882,244
		Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series 2018A:
	9,320	5.000%, 6/01/43		6/28 at 100.00		AA		11,123,140
	16,990	5.000%, 6/01/48		6/28 at 100.00		AA		20,105,456
	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		3,016,750
	500	Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A, Subordinate Lien Series 2011A, 7.000%, 9/01/31		9/21 at 100.00		A		562,015
	3,000	Madera County, California, Certificates of Participation, Children’s Hospital Central California, Series 2010, 5.375%, 3/15/36 (Pre-refunded 3/15/20)		3/20 at 100.00		AA– (4)		3,113,040
	1,000	Manteca Financing Authority, California, Sewer Revenue Bonds, Series 2009, 5.750%, 12/01/36		12/19 at 100.00		AA		1,027,680
	1,000	Modesto Irrigation District, California, Electric System Revenue Bonds, Refunding Series 2011A, 5.000%, 7/01/26		7/21 at 100.00		A+		1,074,110
	2,565	Morongo Band of Mission Indians, California, Enterprise Revenue Bonds, Series 2018A, 5.000%, 10/01/42, 144A		10/28 at 100.00		BBB–		2,793,516

38

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		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	$	4,135,936
	2,500	6.500%, 11/01/39		No Opt. Call		A		3,630,175
	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)		No Opt. Call		N/R (4)		15,028,200
		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		1,361,500
	2,000	5.000%, 8/15/46		8/26 at 100.00		N/R		2,170,840
		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		616,530
	500	5.000%, 10/01/30 – BAM Insured		4/27 at 100.00		AA		605,630
	840	Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.000%, 4/01/25		5/19 at 12.00		CCC+		822,377
	1,740	Palmdale, California, Special Tax Bonds, Community Facilities District 2003-1, Anaverde Project, Series 2005A, 5.350%, 9/01/30		9/19 at 100.00		N/R		1,756,547
	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)		3,088,860
	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		1,818,619
	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–		3,478,549
	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–		2,533,905
	15,000	Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011A, 0.000%, 8/01/41 – AGM Insured (6)		8/36 at 100.00		AA		15,864,300
	4,000	Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37 (Pre-refunded 6/30/20)		6/20 at 100.00		A– (4)		4,233,280
	5,775	Riverside, California, Sewer Revenue Bonds, Refunding Series 2018A, 5.000%, 8/01/39		8/28 at 100.00		AA–		6,947,036
	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		787,530
		Sacramento County, California, Airport System Revenue Bonds, Refunding Senior Series 2018C:
	4,305	5.000%, 7/01/37 (AMT)		7/28 at 100.00		A+		5,075,121
	6,000	5.000%, 7/01/38 (AMT)		7/28 at 100.00		A+		7,051,860
	5,000	5.000%, 7/01/39 (AMT)		7/28 at 100.00		A+		5,859,650
	860	Sacramento, California, Special Tax Bonds, Community Facilities District 05-1 College Square, Series 2007, 5.900%, 9/01/37		9/19 at 100.00		N/R		870,217

39

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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:
$	8,000	5.000%, 7/01/42 (AMT)		7/27 at 100.00		A	$	9,165,200
	2,500	5.000%, 7/01/47		7/27 at 100.00		A		2,900,125
	3,615	5.000%, 7/01/47 (AMT)		7/27 at 100.00		A		4,122,185
	6,895	San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Subordinate Lien Series 2018A, 5.250%, 8/01/47		8/28 at 100.00		Aa3		8,334,676
		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		2,159,541
	6,160	5.000%, 9/01/40		9/26 at 100.00		AA		7,238,246
	12,300	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B, 5.000%, 5/01/46 (AMT)		5/26 at 100.00		A+		13,896,663
	12,715	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A, 5.000%, 5/01/47 (AMT)		5/27 at 100.00		A+		14,547,994
	5,000	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019A, 5.000%, 5/01/44 (AMT)		5/29 at 100.00		A+		5,889,750
	1,920	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+		1,961,645
	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)		681,370
	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+		14,622,552
	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		A–		10,721,449
	2,000	San Jose, California, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 3/01/22 (AMT)		No Opt. Call		A		2,182,540
	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)		484,876
	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)		2,410,460
	275	Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 6.250%, 9/01/47, 144A		9/27 at 100.00		N/R		282,945
	500	Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 6.750%, 8/01/31 (Pre-refunded 8/01/21)		8/21 at 100.00		BBB+ (4)		561,480
	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		4/19 at 100.00		B+		4,750,523
	920	Tustin Community Redevelopment Agency, California, Tax Allocation Housing Bonds Series 2010, 5.000%, 9/01/30 – AGM Insured (Pre-refunded 9/01/20)		9/20 at 100.00		AA (4)		967,122

40

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	3,500	Upland, California, Certificates of Participation, San Antonio Regional Hospital, Series 2017, 5.000%, 1/01/47		1/28 at 100.00		BBB+	$	3,905,265
	5,000	Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured (6)		8/26 at 100.00		AA		5,831,200
	1,500	Western Placer Unified School District, Placer County, California, Certificates of Participation, Refunding Series 2009, 5.250%, 8/01/35 – AGM Insured (Pre-refunded 8/01/19)		8/19 at 100.00		AA (4)		1,518,840
		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		2,126,241
	1,405	0.000%, 8/01/28 – AGC Insured		No Opt. Call		AA		1,127,007
	2,920	0.000%, 8/01/29 – AGC Insured		No Opt. Call		AA		2,255,233
		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		1,552,794
	1,205	5.000%, 9/01/47		9/26 at 100.00		N/R		1,308,160
	690,950	Total California						723,529,326
		Colorado – 5.2%
	1,400	Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013, 5.000%, 6/01/26		6/23 at 100.00		A+		1,535,954
	2,065	Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy Project, Series 2008, 6.500%, 7/01/38		5/19 at 100.00		BB+		2,068,696
	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+		3,437,146
	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		AA–		1,027,983
	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		AA–		2,515,000
	3,000	Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003A, 5.500%, 5/15/30 – AGM Insured (Pre-refunded 5/15/19)		5/19 at 100.00		AA (4)		3,014,220
	6,570	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2018B, 5.000%, 11/15/48 (Mandatory Put 11/20/25)		No Opt. Call		AA		7,793,203
	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)		1,530,225
	1,400	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016, 5.000%, 1/01/37		1/24 at 102.00		N/R		1,498,854
	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		A–		12,890,640

41

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	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	$	797,391
	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–		6,644,384
	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		3,151,440
	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–		3,078,420
	1,100	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm 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)		1,181,246
	1,000	Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2018, 5.875%, 12/01/46		12/23 at 13.00		N/R		1,080,250
	8,000	Colorado State, Building Excellent Schools Today, Certificates of Participation, Series 2018N, 5.000%, 3/15/38		3/28 at 100.00		Aa2		9,454,560
	1,000	Compark Business Campus Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Series 2012A, 6.750%, 12/01/39		12/22 at 100.00		N/R		1,038,520
	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+		2,048,207
	1,730	Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/21		11/20 at 100.00		AA–		1,832,589
	5,000	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A, 5.250%, 11/15/43 (AMT)		11/23 at 100.00		A+		5,518,250
		Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A:
	4,000	5.000%, 12/01/26 (AMT)		No Opt. Call		A+		4,807,600
	10,510	5.000%, 12/01/34 (AMT)		12/28 at 100.00		A+		12,528,550
	24,390	5.000%, 12/01/35 (AMT)		12/28 at 100.00		A+		28,947,027
	19,500	Denver City and County, Colorado, Dedicated Tax Revenue Bonds, Improvement Series 2018A, 5.000%, 8/01/48		8/26 at 100.00		AA		22,370,205
		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		576,101
	3,500	5.000%, 12/01/32		12/26 at 100.00		Baa2		3,949,155
	1,200	5.000%, 12/01/33		12/26 at 100.00		Baa2		1,354,884
	565	5.000%, 12/01/34		12/26 at 100.00		Baa2		636,066
	300	5.000%, 12/01/35		12/26 at 100.00		Baa2		336,216
	11,555	E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/24 – NPFG Insured		No Opt. Call		A		10,193,012
		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
	20	0.000%, 9/01/29 – NPFG Insured		No Opt. Call		A		14,728
	395	0.000%, 9/01/30 – NPFG Insured		No Opt. Call		A		278,040
	20	0.000%, 9/01/32 – NPFG Insured		No Opt. Call		A		12,825
	25	0.000%, 9/01/33 – NPFG Insured		No Opt. Call		A		15,356
	9,890	E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/27 – NPFG Insured		No Opt. Call		A		7,905,275

42

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	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	$	1,369,345
	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		1,056,083
	1,764	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		1,800,021
	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		1,406,400
	720	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		746,568
	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		3,672,648
	9,265	Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A, 5.375%, 12/01/46		12/21 at 103.00		N/R		9,236,649
	2,025	Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2009, 6.375%, 12/01/37 – AGC Insured (Pre-refunded 12/01/19)		12/19 at 100.00		AA (4)		2,089,921
	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		A		677,871
	6,300	Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013, 4.500%, 12/01/30, 144A		12/22 at 100.00		N/R		6,466,572
		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+		2,753,361
	3,580	6.500%, 11/15/38		No Opt. Call		A+		5,220,965
		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+		1,038,274
	4,265	6.000%, 1/15/41		7/20 at 100.00		BBB+		4,383,567
	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		638,739
	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		833,289
	193,869	Total Colorado						210,452,491
		Connecticut – 0.5%
	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, 144A		9/26 at 100.00		BB		891,760
	1,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41 (Pre-refunded 7/01/21)		7/21 at 100.00		A (4)		1,090,090
	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–		12,470,150

43

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Connecticut (continued)
$	1,675	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2015A, 5.000%, 8/01/35		8/25 at 100.00		A+	$	1,861,109
	1,500	Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Refunding Series 2017, 5.000%, 4/01/39, 144A		4/27 at 100.00		N/R		1,606,035
	428	Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.000%, 4/01/22 (Pre-refunded 4/01/20)		4/20 at 100.00		N/R (4)		445,775
	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)		1,989,558
	18,263	Total Connecticut						20,354,477
		Delaware – 0.1%
	1,000	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		1,038,690
	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+		1,032,120
	2,450	Delaware Health Facilities Authority, Revenue Bonds, Beebe Medical Center Project, Series 2018, 5.000%, 6/01/48		12/28 at 100.00		BBB		2,728,835
	600	Kent County, Delaware, Student Housing & Dining Facility Revenue Bonds, Collegiate Housing Foundation – Dover LLC Delaware State University Project, Series 2018A, 5.000%, 7/01/58		1/28 at 100.00		BBB–		640,554
	5,050	Total Delaware						5,440,199
		District of Columbia – 0.4%
		Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2018A:
	8,470	5.000%, 10/01/33 (AMT)		10/28 at 100.00		AA–		10,137,150
	3,000	5.000%, 10/01/34 (AMT)		10/28 at 100.00		AA–		3,577,860
	3,000	5.000%, 10/01/35 (AMT)		10/28 at 100.00		AA–		3,568,140
	14,470	Total District of Columbia						17,283,150
		Florida – 5.4%
		Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A:
	300	5.000%, 11/15/23		No Opt. Call		BBB		332,253
	2,300	5.000%, 11/15/28		11/23 at 100.00		BBB		2,511,301
	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		1,291,862
	445	Boynton Village Community Development District, Florida, Special Assessment Bonds, Series 2007-A1, 5.750%, 5/01/37		5/19 at 100.00		N/R		435,197
	6,000	Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 – AGM Insured (Pre-refunded 10/01/21)		10/21 at 100.00		AA (4)		6,515,940
		Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments Project, Series 2015A:
	1,500	4.750%, 7/01/40		7/25 at 100.00		B–		1,143,045
	1,380	5.000%, 7/01/50		7/25 at 100.00		B–		1,031,495
	12,970	Capital Trust Agency, Florida, Revenue Bonds, Provision CARES Proton Therapy Center, Orlando Project, Series 2018, 7.500%, 6/01/48, 144A		6/28 at 100.00		N/R		13,684,128

44

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	7,060	Central Florida Expressway Authority, Revenue Bonds, Refunding Senior Lien Series 2016B, 4.000%, 7/01/39		7/26 at 100.00		A+	$	7,502,591
	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		4,735,717
	1,125	Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26		No Opt. Call		A		1,272,049
	1,000	Clearwater, Florida, Water and Sewer Revenue Bonds, Series 2009A, 5.250%, 12/01/39 – AGC Insured (Pre-refunded 12/01/19)		12/19 at 100.00		AA (4)		1,025,000
	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		1,025,350
	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		3,078,006
	1,570	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A, 6.125%, 6/15/46, 144A		6/25 at 100.00		N/R		1,635,045
	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+		1,036,820
	500	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc Projects, Series 2012A, 6.000%, 6/15/32, 144A		6/22 at 100.00		N/R		512,655
	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		2,290,660
	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		1,591,830
		Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2012A:
	805	5.500%, 6/15/22, 144A		No Opt. Call		N/R		818,130
	1,100	6.125%, 6/15/43, 144A		6/22 at 100.00		N/R		1,117,358
		Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Jacksonville University Project, Series 2018A-1:
	450	4.500%, 6/01/33, 144A		6/28 at 100.00		N/R		473,449
	550	4.750%, 6/01/38, 144A		6/28 at 100.00		N/R		579,634
	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–		7,332,168
		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		1,334,013
	1,000	5.000%, 12/01/31		12/22 at 100.00		A2		1,101,180
	3,000	5.000%, 12/01/37		12/22 at 100.00		A2		3,287,610
	1,000	Florida Housing Finance Agency, Housing Revenue Bonds, Stoddert Arms Apartments, Series 1996O, 6.300%, 9/01/36 – AMBAC Insured (AMT)		5/19 at 100.00		N/R		1,001,510
	840	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		850,954

45

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	3,130	Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Senior Lien Series 2015A, 5.000%, 10/01/44 (AMT)		10/24 at 100.00		AA–	$	3,463,063
		Jacksonville, Florida, Special Revenue Bonds, Refunding Series 2017A:
	6,285	5.250%, 10/01/42		10/27 at 100.00		AA		7,359,672
	3,930	5.250%, 10/01/47		10/27 at 100.00		AA		4,584,031
	735	Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2007A, 5.250%, 6/15/27		5/19 at 100.00		BB–		735,118
		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–		879,506
	1,375	5.750%, 6/15/42		6/22 at 100.00		BB–		1,378,052
	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+		7,419,294
		Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013:
	885	3.950%, 12/15/21 (AMT), 144A		6/20 at 100.00		BBB+		902,231
	9,500	4.200%, 12/15/25 (AMT), 144A		6/20 at 100.00		BBB+		9,680,500
	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		7,076,835
	7,405	Miami Beach, Florida, Stormwater Revenue Bonds, Refunding Series 2017, 5.000%, 9/01/47		9/22 at 100.00		AA–		8,054,122
	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+		991,726
		Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1:
	1,250	5.375%, 10/01/35 (Pre-refunded 10/01/20)		10/20 at 100.00		N/R (4)		1,321,262
	335	5.375%, 10/01/35		10/20 at 100.00		A		352,534
	12,195	Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/38 (AMT)		10/25 at 100.00		A		13,706,814
	1,040	Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series 2009, 5.625%, 6/01/34 – AGC Insured (Pre-refunded 6/01/19) (UB) (5)		6/19 at 100.00		AA (4)		1,046,978
	22,160	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42		10/22 at 100.00		AA–		24,128,916
	7,500	Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc, Series 2019A, 5.000%, 10/01/47		4/29 at 100.00		A+		8,622,900
		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–		572,049
	625	5.000%, 6/01/32		6/21 at 100.00		A–		650,706
	750	5.000%, 6/01/36		6/21 at 100.00		A–		777,720
	875	5.125%, 6/01/42		6/21 at 100.00		A–		906,535
	5,095	Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperative, Inc. Project, Refunding Series 2018B, 5.000%, 3/15/42		5/28 at 100.00		A–		5,853,238

46

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	1,006	Riverbend West Community Development District, Florida, Special Assessment Bonds, Series 2016, 5.000%, 5/01/46		5/27 at 100.00		N/R	$	1,022,066
		South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Series 2017:
	5,000	5.000%, 8/15/31		8/27 at 100.00		AA–		5,980,700
	3,655	5.000%, 8/15/47		8/27 at 100.00		AA–		4,188,484
	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–		558,120
	35	Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33		5/22 at 100.00		Aa2		38,130
	290	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (6)		5/19 at 100.00		N/R		288,634
	210	Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (6)		5/22 at 100.00		N/R		174,409
	170	Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.650%, 5/01/40 (7)		5/19 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 (7)		5/19 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		5/19 at 100.00		N/R		14,126
	95	Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007A-1 RMKT, 5.250%, 5/01/39		5/19 at 100.00		N/R		81,026
	435	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40		5/19 at 100.00		N/R		354,703
	270	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40		5/19 at 100.00		N/R		181,022
	290	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (7)		5/19 at 100.00		N/R		3
	2,155	Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37		5/19 at 100.00		N/R		2,157,306
	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		265,495
	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		1,561,155
		Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Refunding Series 2017:
	2,380	5.000%, 10/15/42		10/27 at 100.00		A3		2,686,330
	3,000	5.000%, 10/15/47		10/27 at 100.00		A3		3,377,670
	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–		14,586,520
		Wynnmere East Community Development District, Hillsborough County, Florida, Special Assessment Revenue Bonds, Series 2016:
	470	5.125%, 5/01/36		5/28 at 100.00		N/R		480,533
	930	5.500%, 5/01/46		5/28 at 100.00		N/R		979,448
	203,951	Total Florida						219,986,639

47

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Georgia – 1.2%
		Atlanta Development Authority, Georgia, Senior Health Care Facilities Revenue Bonds, Georgia Proton Treatment Center Project, Current Interest Series 2017A-1:
$	2,500	6.750%, 1/01/35		1/28 at 100.00		N/R	$	2,531,050
	1,000	7.000%, 1/01/40		1/28 at 100.00		N/R		1,016,310
		Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B:
	4,565	5.375%, 11/01/39 – AGM Insured (Pre-refunded 11/01/19)		11/19 at 100.00		AA (4)		4,668,169
	2,435	5.375%, 11/01/39 – AGM Insured		11/19 at 100.00		AA		2,485,015
	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+		10,689,700
	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		1,205,952
	1,000	Lavonia Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Regional Medical Center , Series 2010, 6.000%, 12/01/40 – AGM Insured (Pre-refunded 12/01/20)		12/20 at 100.00		AA (4)		1,073,480
		Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A:
	960	5.000%, 3/15/22		No Opt. Call		A+		1,040,361
	1,000	5.500%, 9/15/28		No Opt. Call		A+		1,250,430
	5,000	Municipal Electric Authority of Georgia, Project One Revenue Bonds, Subordinate Lien Series 2016A, 5.000%, 1/01/28		7/26 at 100.00		A2		5,775,600
	1,590	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 5.250%, 10/01/27		10/21 at 100.00		Baa1		1,707,199
	13,120	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Savannah College of Art & Design Projects, Series 2014, 5.000%, 4/01/44		4/24 at 100.00		A3		14,275,085
	1,000	Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State University, Windward Commons LLC Project, Series 2009, 5.000%, 6/15/39 – AGC Insured (Pre-refunded 6/15/19)		6/19 at 100.00		AA (4)		1,006,950
	45,270	Total Georgia						48,725,301
		Guam – 0.2%
	1,020	Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/31		1/22 at 100.00		BB		1,063,850
	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+		2,052,720
	1,005	Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 (Pre-refunded 7/01/20)		7/20 at 100.00		A– (4)		1,055,622
	1,610	Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (AMT)		10/23 at 100.00		BBB+		1,857,280
	5,635	Total Guam						6,029,472
		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		AA–		1,676,085
	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		1,057,920

48

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Hawaii (continued)
		Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009A:
$	865	8.750%, 11/15/29 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)	$	902,671
	1,250	9.000%, 11/15/44 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		1,306,187
	4,545	Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/45 (AMT)		7/25 at 100.00		AA–		5,066,857
	9,160	Total Hawaii						10,009,720
		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+		2,130,674
	205	5.000%, 9/01/37		9/26 at 100.00		BB+		222,718
		Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series 2018A:
	2,435	5.000%, 3/01/36		9/28 at 100.00		A–		2,809,479
	2,250	5.000%, 3/01/37		9/28 at 100.00		A–		2,581,515
	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–		2,132,140
	9,190	Total Idaho						9,876,526
		Illinois – 9.4%
		Bensenville, Illinois, General Obligation Bonds, Series 2011A:
	1,295	5.000%, 12/15/30 – AGM Insured (Pre-refunded 12/15/21)		12/21 at 100.00		AA (4)		1,411,705
	705	5.000%, 12/15/30 – AGM Insured		12/21 at 100.00		AA		749,944
		Champaign, Illinois, General Obligation Sales Tax Bonds, Public Safety Series 1999:
	1,140	8.250%, 1/01/21 – FGIC Insured		No Opt. Call		Baa2		1,260,224
	1,275	8.250%, 1/01/22 – FGIC Insured		No Opt. Call		Baa2		1,483,259
	67,800	Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46		4/27 at 100.00		A		78,662,916
	590	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A, 5.000%, 12/01/42		12/22 at 100.00		BB–		605,777
	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		BB–		1,280,258
	35,090	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44		12/25 at 100.00		BB–		41,080,214
	2,100	Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40		12/21 at 100.00		AA		2,211,531
	1,550	Chicago, Illinois, Certificates of Participation Tax Increment Bonds, River Point Plaza Redevelopment Project, Series 2018, 4.835%, 4/15/28, 144A		1/23 at 100.00		N/R		1,553,922
	3,180	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2015C, 5.000%, 1/01/46 (AMT)		1/25 at 100.00		A		3,494,566
	900	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2014A, 5.000%, 1/01/35		1/24 at 100.00		BBB+		945,873
	8,805	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38		1/27 at 100.00		BBB+		10,057,335

49

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	920	Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2003B, 5.500%, 1/01/33		1/25 at 100.00		BBB+	$	1,011,301
	13,760	Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2005D, 5.500%, 1/01/40		1/25 at 100.00		BBB+		14,895,888
	125	Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C, 5.000%, 1/01/34		5/19 at 100.00		BBB+		125,243
		Chicago, Illinois, General Obligation Bonds, Project Series 2011A:
	400	5.250%, 1/01/35		1/21 at 100.00		BBB+		409,932
	1,035	5.000%, 1/01/40		1/21 at 100.00		BBB+		1,052,543
	1,000	Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/33		1/22 at 100.00		BBB+		1,033,520
	7,545	Chicago, Illinois, General Obligation Bonds, Refunding Series 2007E, 5.500%, 1/01/42		1/25 at 100.00		BBB+		8,146,488
	1,635	Chicago, Illinois, General Obligation Bonds, Refunding Series 2009A, 5.000%, 1/01/22 (Pre-refunded 1/01/20)		1/20 at 100.00		BBB+ (4)		1,675,352
	1,320	Chicago, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 1/01/25		1/22 at 100.00		BBB+		1,383,149
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	2,260	5.000%, 1/01/24		No Opt. Call		BBB+		2,448,009
	935	5.000%, 1/01/25		No Opt. Call		BBB+		1,024,947
	2,500	5.000%, 1/01/29		1/26 at 100.00		BBB+		2,734,450
	705	5.000%, 1/01/35		1/26 at 100.00		BBB+		754,258
	2,175	5.000%, 1/01/38		1/26 at 100.00		BBB+		2,308,132
	2,200	Chicago, Illinois, General Obligation Bonds, Series 2015A, 5.500%, 1/01/39		1/25 at 100.00		BBB+		2,385,966
	715	Chicago, Illinois, General Obligation Bonds, Variable Rate Demand Series 2007F, 5.500%, 1/01/42		1/25 at 100.00		BBB+		772,000
	4,440	Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33		11/20 at 100.00		AA–		4,626,702
	2,000	Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40		10/20 at 100.00		BB		2,082,540
		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 38.17		AA–		367,610
	750	0.000%, 2/01/36		2/21 at 35.47		AA–		256,208
	575	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		586,218
	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+		1,473,724
	2,195	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 5.000%, 9/01/34		9/24 at 100.00		AA+		2,478,594
	1,255	Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39 (Pre-refunded 11/01/19)		11/19 at 100.00		N/R (4)		1,281,719
		Illinois Finance Authority, Revenue Bonds, Christian Homes Inc, Refunding Series 2010:
	710	6.125%, 5/15/27 (Pre-refunded 5/15/20)		5/20 at 100.00		N/R (4)		745,408
	1,290	6.125%, 5/15/27		5/20 at 100.00		BBB–		1,333,705

50

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	3,895	Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 4.250%, 5/15/43		5/22 at 100.00		Baa2	$	3,966,434
	10,810	Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/40		6/26 at 100.00		A3		11,862,137
	2,000	Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2009A, 5.375%, 8/15/24 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		2,028,020
		Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A:
	510	6.000%, 5/15/39		5/20 at 100.00		A		525,443
	1,635	6.000%, 5/15/39 (Pre-refunded 5/15/20)		5/20 at 100.00		N/R (4)		1,714,281
	10,715	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/45		11/25 at 100.00		A		11,723,817
	1,545	Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35		5/20 at 100.00		AA–		1,588,214
		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)		25,563
	2,875	7.750%, 8/15/34 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		2,939,774
	895	Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 5.500%, 7/01/28		7/23 at 100.00		A–		1,008,298
		Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C:
	1,335	6.625%, 11/01/39 (Pre-refunded 5/01/19)		5/19 at 100.00		N/R (4)		1,340,460
	1,665	6.625%, 11/01/39 (Pre-refunded 5/01/19) (UB) (5)		No Opt. Call		N/R (4)		1,671,810
	20	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 4.000%, 11/15/39		5/25 at 100.00		AA–		20,520
	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		1,228,340
	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)		9,175,230
	925	Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc, Series 2005 Remarketed, 5.250%, 3/01/30 – AGM Insured (Pre-refunded 3/01/20)		3/20 at 100.00		AA (4)		955,840
	4,000	Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41		8/21 at 100.00		AA–		4,343,160
		Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2009B:
	470	5.000%, 8/15/26 (Pre-refunded 8/15/20)		8/20 at 100.00		N/R (4)		491,488
	930	5.000%, 8/15/26		8/20 at 100.00		AA–		968,204
	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)		1,606,995
	4,000	Illinois Housing Development Authority, Multifamily Housing Revenue Bonds, GNMA Collateralized – Lifelink Developments, Series 2006, 4.850%, 4/20/41 (AMT) (UB) (5)		5/19 at 100.00		AA+		4,004,040
	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		8,191,581
	8,000	Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/30		1/26 at 100.00		BBB		8,622,320

51

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	5,000	Illinois State, General Obligation Bonds, May Series 2014, 5.000%, 5/01/27		5/24 at 100.00		BBB	$	5,337,350
	5,325	Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/24		No Opt. Call		BBB		5,826,242
		Illinois State, General Obligation Bonds, Series 2012A:
	5,520	5.000%, 3/01/25		3/22 at 100.00		BBB		5,788,603
	5,910	5.000%, 3/01/26		3/22 at 100.00		BBB		6,159,638
	500	5.000%, 3/01/27		3/22 at 100.00		BBB		520,215
	1,440	Illinois State, General Obligation Bonds, Series 2013, 5.250%, 7/01/28		7/23 at 100.00		BBB		1,533,902
	5,000	Illinois State, Sales Tax Revenue Bonds, Build Illinois Series 2011, 5.000%, 6/15/28		6/21 at 100.00		A–		5,186,500
	3,000	Lombard Public Facilities Corporation, Illinois, Conference Center and Hotel Revenue Bonds, First Tier Series 2005A-2, 5.500%, 1/01/30		5/19 at 100.00		N/R		2,866,140
	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		899,701
	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		BBB		1,360,064
	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		BBB		5,691,708
	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		BBB		1,290,440
	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		Baa2		7,470,392
	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		5,382,400
	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		2,005,972
	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		905,874
	3,890	Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 5.250%, 6/01/21		No Opt. Call		A		4,168,757
	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		5,580,389
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	15,530	4.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		16,089,080
	3,485	5.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		3,855,281
	5,000	University of Illinois, Auxiliary Facilities System Revenue Bonds, Series 2013A, 4.000%, 4/01/32		4/23 at 100.00		A1		5,167,450
	7,405	University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42		10/23 at 100.00		A–		8,374,981
	356,626	Total Illinois						383,654,178
		Indiana – 2.5%
	695	Chesterton, Indiana, Economic Development Revenue Bonds, Storypoint Chesterton Project, Series 2016, 6.250%, 1/15/43, 144A		1/24 at 104.00		N/R		721,792

52

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	6,495	Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health, Series 2018A, 5.000%, 11/01/43		11/28 at 100.00		AA–	$	7,456,650
	5,215	Indiana Bond Bank, Special Program Gas Revenue Bonds, JP Morgan Ventures Energy Corporation Guaranteed, Series 2007A, 5.250%, 10/15/20		No Opt. Call		A+		5,468,814
	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		1,411,788
		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Indiana Inc Project, Series 2016:
	2,475	7.000%, 12/01/34, 144A		12/24 at 100.00		N/R		2,543,162
	4,920	7.250%, 12/01/44, 144A		12/24 at 100.00		N/R		5,052,151
		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Northwest Indiana Inc Project, Series 2016:
	3,710	7.000%, 12/01/34, 144A		12/24 at 100.00		N/R		3,812,173
	6,075	7.250%, 12/01/44, 144A		12/24 at 100.00		N/R		6,238,174
	5,000	Indiana Finance Authority, Educational Facilities Revenue Bonds, Rose Hulman Institute Of Technology Project, Series 2018, 4.000%, 6/01/44		12/28 at 100.00		A1		5,175,250
	1,640	Indiana Finance Authority, Educational Facilities Revenue Bonds, Valparaiso University Project, Series 2014, 5.000%, 10/01/39		10/24 at 100.00		A3		1,811,872
	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)		1,031,840
	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+		3,190,110
	9,215	Indiana Finance Authority, Provate Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A, 5.000%, 7/01/48 (AMT)		7/23 at 100.00		A–		9,824,572
	15,205	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, First Lien Green Series 2016A, 5.000%, 10/01/46		10/26 at 100.00		AA		17,276,377
	8,000	Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/40		10/24 at 100.00		AA		9,021,360
		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		Ba1		1,615,451
	1,400	5.000%, 4/01/27		4/22 at 100.00		Ba1		1,474,662
	1,560	5.000%, 4/01/29		4/22 at 100.00		Ba1		1,636,721
		Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2013:
	335	5.875%, 1/01/24 (AMT)		No Opt. Call		N/R		366,507
	9,185	7.000%, 1/01/44 (AMT)		1/24 at 100.00		N/R		10,682,063
	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)		5,744,350
	93,055	Total Indiana						101,555,839
		Iowa – 0.5%
	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)		2,373,189
	500	Iowa Finance Authority, Health Facilities Revenue Bonds, Iowa Health System, Series 2008A, 5.250%, 8/15/29 – AGC Insured (Pre-refunded 8/15/19)		8/19 at 100.00		A3 (4)		506,775

53

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Iowa (continued)
$	2,980	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2019, 3.125%, 12/01/22 (WI/DD, Settling 4/03/19)		12/20 at 103.00		B+	$	2,999,609
	5,375	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25		12/23 at 100.00		B+		5,797,851
	1,015	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A		6/19 at 105.00		B+		1,068,917
	3,920	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018A, 5.250%, 12/01/50		12/22 at 103.00		B+		4,138,187
	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		1,022,930
	1,070	Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Senior Lien Series 2011A-2, 5.750%, 12/01/28 (AMT)		12/19 at 102.00		A		1,117,069
	2,045	Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.625%, 6/01/46		5/19 at 100.00		B		2,045,143
	20,180	Total Iowa						21,069,670
		Kansas – 0.2%
	1,500	Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc, Series 2016, 5.000%, 12/01/36		12/26 at 100.00		Baa3		1,639,155
	1,320	Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc., Series 2016, 5.000%, 12/01/41		12/26 at 100.00		Baa3		1,424,491
		Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C:
	100	5.500%, 11/15/29 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		102,330
	4,440	5.500%, 11/15/29		11/19 at 100.00		AA		4,539,234
	1,250	Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured		5/19 at 100.00		BB+		1,251,875
	825	Overland Park Transportation Development District, Kansas, Sales Tax Revenue Bonds, Oak Park Mall Project, Series 2010, 5.900%, 4/01/32		4/20 at 100.00		BBB		844,949
	9,435	Total Kansas						9,802,034
		Kentucky – 1.7%
		Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A:
	2,545	5.000%, 9/01/43		9/28 at 100.00		A2		2,916,315
	2,600	5.000%, 9/01/48		9/28 at 100.00		A2		2,975,856
	6,345	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2011, 5.000%, 8/15/42		8/21 at 100.00		A		6,690,105
		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		Baa3 (4)		2,620,300
	2,480	6.000%, 6/01/30 (Pre-refunded 6/01/20)		6/20 at 100.00		Baa3 (4)		2,606,455
	2,630	Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A, 5.000%, 12/01/45 – AGM Insured		12/27 at 100.00		AA		2,960,512

54

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kentucky (continued)
$	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+	$	6,188,606
		Kentucky State Property and Buildings Commission, Revenue Bonds, Project 119, Series 2018:
	2,000	5.000%, 5/01/35		5/28 at 100.00		A1		2,311,780
	2,500	5.000%, 5/01/36		5/28 at 100.00		A1		2,879,400
	4,000	5.000%, 5/01/37		5/28 at 100.00		A1		4,582,280
		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+		6,622,434
	2,785	4.000%, 10/01/35		10/26 at 100.00		A+		2,901,608
	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		N/R		5,339,350
	12,750	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 4/01/48 (Mandatory Put 4/01/24)		1/24 at 100.37		A3		13,695,412
	1,635	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 2.550%, 11/01/27 (Mandatory Put 5/03/21) (AMT)		No Opt. Call		N/R		1,657,465
	61,160	Total Kentucky						66,947,878
		Louisiana – 0.9%
	65	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007B, 9.000%, 12/15/14		No Opt. Call		N/R		1
	2,000	Louisiana Public Facilities Authority, Revenue Bonds, Christus Health, Refunding Series 2009A, 6.000%, 7/01/29		7/19 at 100.00		A+ (4)		2,021,040
	26,705	Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36 (AMT), 144A		7/23 at 100.00		N/R		29,265,208
	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		1,050,560
	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		2,222,566
	1,050	New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/44		6/24 at 100.00		A		1,133,160
	32,850	Total Louisiana						35,692,535
		Maine – 0.4%
		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		2,173,040
	10,390	6.750%, 7/01/41		7/21 at 100.00		BB		11,244,474
	1,665	Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2010A, 5.000%, 7/01/40		7/20 at 100.00		AA		1,722,542
		Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013:
	460	5.000%, 7/01/26		7/23 at 100.00		BBB+		508,341
	1,000	5.000%, 7/01/27		7/23 at 100.00		BBB+		1,102,390
	15,515	Total Maine						16,750,787

55

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maryland – 0.4%
$	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	$	15,888,751
	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+		1,004,390
	15,350	Total Maryland						16,893,141
		Massachusetts – 2.0%
	8,620	Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Capital Appreciation Series 2016A, 0.000%, 7/01/32		7/26 at 85.54		AA		5,914,182
	4,350	Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.750%, 10/15/37		5/19 at 100.00		N/R		4,189,920
		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		1,349,280
	5,590	5.000%, 7/01/37		7/26 at 100.00		BBB		6,239,390
	10,410	Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2016A, 5.000%, 1/01/47		1/27 at 100.00		BBB+		11,539,901
	1,500	Massachusetts Development Finance Agency, Revenue Bonds, Emmanuel College, Series 2016A, 5.000%, 10/01/43		10/26 at 100.00		Baa2		1,656,270
	1,035	Massachusetts Development Finance Agency, Revenue Bonds, Loomis Communities, Series 2013A, 4.875%, 1/01/24		1/23 at 100.00		BBB		1,129,309
		Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A:
	2,500	5.000%, 7/01/39		1/29 at 100.00		BBB+		2,865,250
	10,165	5.000%, 7/01/44		1/29 at 100.00		BBB+		11,550,591
		Massachusetts Development Finance Agency, Revenue Bonds, Woods Hole Oceanographic Institution, Series 2018:
	3,490	5.000%, 6/01/43		6/28 at 100.00		AA–		4,109,161
	6,210	5.000%, 6/01/48		6/28 at 100.00		AA–		7,282,715
	6,665	Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Tender Option Trust 2015-XF0047, 10.673%, 7/01/34 (IF)		7/19 at 100.00		AA–		6,836,424
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A:
	3,025	5.750%, 7/01/39 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		3,056,884
	1,525	5.750%, 7/01/39		7/19 at 100.00		Baa2		1,540,692
	3,010	Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2016A, 5.000%, 3/01/46		3/24 at 100.00		Aa1		3,364,428
	5,000	Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2017F, 5.000%, 11/01/43		11/27 at 100.00		Aa1		5,857,250
	2,335	Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Tender Option Bond Trust 2015-XF2181, 10.807%, 8/01/38 (IF) (5)		8/19 at 100.00		AAA		2,406,171
	76,630	Total Massachusetts						80,887,818
		Michigan – 0.9%
	6,850	Bay City, Bay County, Michigan, Unlimited Tax General Street Improvement Bonds, Series 1991, 0.000%, 6/01/21 – AMBAC Insured		No Opt. Call		A+		6,186,166

56

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
$	800	Jackson County Hospital Finance Authority, Michigan, Hospital Revenue Bonds, WA Foote Memorial Hospital, Refunding Series 2006B-2, 5.000%, 6/01/27 – AGM Insured (Pre-refunded 6/01/20)		6/20 at 100.00		AA (4)	$	831,600
	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–		11,424,994
	270	Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Creative Montessori Academy Project, Series 2011, 6.125%, 5/01/21		5/19 at 100.00		BBB–		270,305
		Michigan Finance Authority, Public School Academy Revenue Bonds, Detroit Service Learning Academy Project, Refunding Series 2011:
	295	6.000%, 10/01/21		No Opt. Call		B		283,775
	500	7.000%, 10/01/31		10/21 at 100.00		B		480,730
	1,000	7.000%, 10/01/36		10/21 at 100.00		B		933,320
	2,485	Michigan Finance Authority, Senior Lien Distributable State Aid Revenue Bonds, Charter County of Wayne Criminal Justice Center Project, Series 2018, 5.000%, 11/01/43		11/28 at 100.00		Aa3		2,899,821
	1,550	Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2010A, 5.000%, 10/01/35		10/20 at 100.00		AA		1,606,978
	1,250	Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Chandler Park Academy Project, Series 2008, 6.500%, 11/01/35		5/19 at 100.00		BBB		1,251,750
	1,220	Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, David Ellis Academy-West Charter School Project, Series 2007, 5.875%, 6/01/37		5/19 at 100.00		N/R		1,220,012
		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		811,980
	2,000	5.500%, 10/15/45		10/21 at 100.00		Aa2		2,169,320
		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		N/R (4)		512,505
	1,480	5.750%, 11/15/39 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		1,518,140
	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		A+		5,482,100
	36,065	Total Michigan						37,883,496
		Minnesota – 1.1%
	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+		298,880
		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		155,807
	270	5.000%, 7/01/47		7/24 at 102.00		N/R		276,240
	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		4,162,063
		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		246,560
	675	5.250%, 1/01/46		1/23 at 100.00		N/R		655,128

57

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
		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, 144A		8/22 at 100.00		N/R	$	1,595,150
	1,250	5.000%, 8/01/51, 144A		8/22 at 100.00		N/R		1,280,312
	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		2,617,127
	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		3,051,120
	2,250	Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Catherine University, Refunding Series 2018A, 5.000%, 10/01/45		10/28 at 100.00		Baa1		2,515,680
	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–		484,910
	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 (AMT), 144A		10/22 at 100.00		BBB–		15,934,116
		St Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc, Series 2015A:
	535	5.250%, 11/15/35 (Pre-refunded 11/15/20)		11/20 at 100.00		N/R (4)		566,437
	235	5.000%, 11/15/44 (Pre-refunded 11/15/25)		11/25 at 100.00		N/R (4)		281,401
		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		N/R (4)		2,993,625
	2,080	5.250%, 11/15/28 (Pre-refunded 11/15/20)		11/20 at 100.00		N/R (4)		2,202,221
	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		2,288,922
	3,750	Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 2014A, 5.000%, 1/01/46		1/24 at 100.00		Aa3		4,154,737
	45,000	Total Minnesota						45,760,436
		Mississippi – 0.1%
	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		5,642,150
		Missouri – 1.6%
	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		3,950,228
	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–		2,504,852
	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		9,294,991
	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		1,311,950
	4,455	Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Tender Option Bond Trust 2015-XF0046, 10.752%, 11/15/39 (IF)		11/19 at 100.00		AA+		4,742,214

58

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri (continued)
$	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	$	2,604,870
	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		16,178,593
		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		3,420,300
	7,000	0.000%, 7/15/32 – AGC Insured		No Opt. Call		AA		4,581,500
	6,250	0.000%, 7/15/33 – AGC Insured		No Opt. Call		AA		3,914,125
	7,000	0.000%, 7/15/34 – AGC Insured		No Opt. Call		AA		4,187,610
	6,000	0.000%, 7/15/35 – AGC Insured		No Opt. Call		AA		3,429,900
	2,000	0.000%, 7/15/36 – AGC Insured		No Opt. Call		AA		1,089,900
	1,288	Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment Project, Series 2008A, 6.300%, 8/22/26		9/19 at 100.00		N/R		1,284,883
	1,390	Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A, 6.500%, 1/23/28		5/19 at 100.00		N/R		810,731
	73,573	Total Missouri						63,306,647
		Montana – 0.4%
	2,505	Montana Facilities Finance Authority, Montana, Health Facilities Revenue Bonds, Bozeman Deaconess Health Services Obligated Group, Series 2018, 5.000%, 6/01/48		6/28 at 100.00		A		2,874,538
	1,910	Montana Facility Finance Authority, Healthcare Facility Revenue Bonds, Kalispell Regional Medical Center, Series 2018B, 5.000%, 7/01/43		7/28 at 100.00		BBB		2,123,041
	9,130	Montana Facility Finance Authority, Revenue Bonds, Billings Clinic Obligated Group, Series 2018A, 5.000%, 8/15/48		8/28 at 100.00		AA–		10,637,637
	13,545	Total Montana						15,635,216
		Nebraska – 1.0%
	3,075	Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Refunding Crossover Series 2017A, 5.000%, 9/01/30		No Opt. Call		A		3,646,858
	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		4,332,000
	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		1,898,897
		Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2, Refunding Series 2016A:
	18,465	5.000%, 2/01/46 (UB) (5)		2/26 at 100.00		A+		20,789,559
	10,000	5.000%, 2/01/49 (UB) (5)		2/26 at 100.00		A+		11,223,800
	37,280	Total Nebraska						41,891,114
		Nevada – 1.5%
		Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A:
	265	5.000%, 9/01/29		9/27 at 100.00		A–		309,414
	750	5.000%, 9/01/30		9/27 at 100.00		A–		868,807
	730	5.000%, 9/01/32		9/27 at 100.00		A–		832,492
	1,965	5.000%, 9/01/42		9/27 at 100.00		A–		2,166,511
	1,150	5.000%, 9/01/47		9/27 at 100.00		A–		1,263,850

59

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nevada (continued)
$	13,600	Clark County, Nevada, General Obligation Bonds, Stadium Improvement, Limited Tax Additionally Secured by Pledged Revenues, Series 2018A, 5.000%, 5/01/48		6/28 at 100.00		AA+	$	15,878,952
	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		2,047,540
		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		1,166,861
	1,800	4.000%, 9/01/35		9/26 at 100.00		N/R		1,753,398
		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)		2,023,740
	1,500	8.000%, 6/15/30 (Pre-refunded 6/15/19)		6/19 at 100.00		BBB+ (4)		1,519,170
	2,500	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/38		6/21 at 100.00		AA+		2,657,725
	20,000	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Water Improvement Series 2016A, 5.000%, 6/01/46 (UB) (5)		6/26 at 100.00		AA+		22,871,600
		Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, Refunding Series 2013:
	110	4.000%, 6/01/19		No Opt. Call		N/R		110,204
	95	4.000%, 6/01/20		No Opt. Call		N/R		96,338
	745	4.000%, 6/01/21		No Opt. Call		N/R		761,889
	340	5.000%, 6/01/23		No Opt. Call		N/R		362,984
	200	4.250%, 6/01/24		6/23 at 103.00		N/R		205,972
	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		1,830,640
		Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011:
	20	5.000%, 7/01/32 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		21,504
	25	5.000%, 7/01/32 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		26,880
	365	5.000%, 7/01/32		7/21 at 100.00		Aa2		390,627
	53,050	Total Nevada						59,167,098
		New Hampshire – 0.3%
	8,170	National Finance Authority, New Hampshire, Resource Recovery Revenue Bonds, Covanta Project, Refunding Series 2018C, 4.875%, 11/01/42 (AMT), 144A		7/23 at 100.00		B1		8,337,321
	3,305	New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Tender Option Bond Trust 2016-XL0025, 11.651%, 6/01/39 (IF) (5)		6/19 at 100.00		N/R		3,366,341
		New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series 2018A:
	1,000	5.000%, 8/01/34		2/28 at 100.00		A		1,165,800
	725	5.000%, 8/01/36		2/28 at 100.00		A		835,802
	13,200	Total New Hampshire						13,705,264
		New Jersey – 1.5%
	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+		4,926,228

60

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
$	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	$	1,469,087
	3,215	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 4.000%, 7/01/34		7/27 at 100.00		BBB+		3,265,057
	9,090	New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2016AAA, 5.500%, 6/15/29		12/26 at 100.00		A–		10,530,856
		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc, Series 1999:
	1,000	5.125%, 9/15/23 (AMT)		8/22 at 101.00		BB		1,080,630
	1,650	5.250%, 9/15/29 (AMT)		8/22 at 101.00		BB		1,802,526
	2,255	New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc, Series 2000A & 2000B, 5.625%, 11/15/30 (AMT)		3/24 at 101.00		BB		2,569,595
	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 (Pre-refunded 6/01/20)		6/20 at 100.00		N/R (4)		876,174
	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)		605,856
	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		AA		1,179,080
	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		1,611,431
	1,335	New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2016-XG0001, 16.020%, 6/01/30 – Insured (IF) (5)		6/19 at 100.00		AAA		1,371,526
		New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A:
	1,475	5.000%, 6/15/30		6/26 at 100.00		A+		1,674,081
	1,035	5.000%, 6/15/31		6/26 at 100.00		A+		1,168,857
	11,305	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2018A, 5.000%, 12/15/32		12/28 at 100.00		A–		12,733,839
	3,175	New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.250%, 1/01/26 – AGM Insured		No Opt. Call		AA		3,866,864
	1,000	Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 5.750%, 12/01/30 – AGC Insured (Pre-refunded 12/01/19)		12/19 at 100.00		A3 (4)		1,028,290
	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)		1,949,042
	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		2,047,720
	6,165	Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46		6/28 at 100.00		BBB		6,512,583
	56,200	Total New Jersey						62,269,322

61

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		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	$	3,094,110
	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		Aa2		3,101,928
	6,070	Total New Mexico						6,196,038
		New York – 11.3%
	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–		12,418,392
		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)		1,139,479
	7,745	6.375%, 7/15/43 (Pre-refunded 1/15/20)		1/20 at 100.00		AA+ (4)		8,045,583
		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–		544,430
	250	5.000%, 6/01/35		6/24 at 103.00		BBB–		271,542
	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+		1,643,674
	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–		2,859,550
	4,450	Dormitory Authority of the State of New York, New York State University Facilities Revenue Bonds, Series 2018A, 5.000%, 7/01/43		7/28 at 100.00		Aa3		5,233,689
	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–		9,020,995
	4,955	Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.500%, 7/01/43 – AGM Insured (Pre-refunded 7/01/20)		7/20 at 100.00		AA (4)		5,202,651
		Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017:
	100	5.000%, 12/01/34, 144A		6/27 at 100.00		BBB–		114,029
	300	5.000%, 12/01/36, 144A		6/27 at 100.00		BBB–		339,825
		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+		605,120
	175	5.000%, 7/01/32		7/27 at 100.00		A+		207,070
	14,000	Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2018A, 5.000%, 3/15/38		3/28 at 100.00		AA+		16,692,760
		Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2018C:
	8,000	5.000%, 3/15/36		3/28 at 100.00		AA+		9,605,840
	10,000	5.000%, 3/15/37		3/28 at 100.00		AA+		11,959,900
	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		1,395,344

62

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:
$	245	5.750%, 2/15/47 (Pre-refunded 2/15/21)		2/21 at 100.00		Aa2 (4)	$	264,451
	155	5.750%, 2/15/47		2/21 at 100.00		Aa2		166,202
	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)		3,010,920
		Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A:
	1,000	5.000%, 5/01/36 – AGM Insured (Pre-refunded 5/01/21)		5/21 at 100.00		AA (4)		1,072,490
	1,980	5.000%, 5/01/38 (Pre-refunded 5/01/21)		5/21 at 100.00		A– (4)		2,123,530
		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–		1,663,018
	1,000	5.000%, 7/01/36		7/27 at 100.00		AA–		1,181,090
	1,000	5.000%, 7/01/37		7/27 at 100.00		AA–		1,176,180
	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–		7,976,069
		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–		263,623
	300	5.000%, 7/01/24		No Opt. Call		A–		343,671
	210	5.000%, 7/01/26		7/24 at 100.00		A–		239,509
		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 (7)		5/19 at 11.00		N/R		1,965,000
	1,000	5.875%, 10/01/46 (7)		5/19 at 11.00		N/R		655,000
	715	New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured		5/19 at 100.00		AA		718,368
	1,000	New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2017 Series DD, 5.000%, 6/15/47		12/26 at 100.00		AA+		1,156,630
		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+		5,930,450
	5,000	5.000%, 6/15/37		6/27 at 100.00		AA+		5,905,650
	18,515	New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2019 Series DD-2, 5.250%, 6/15/49		6/28 at 100.00		AA+		22,270,583
	1,000	New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Tender Option Bond Trust 2015-XF0097, 13.536%, 6/15/39 (IF)		6/19 at 100.00		N/R		1,026,060
	5,000	New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018, Series 2017S-1, 5.000%, 7/15/35		7/27 at 100.00		AA		5,936,900
	3,000	New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018 Series Subseries S-4A, 5.000%, 7/15/33		7/28 at 100.00		AA		3,650,520

63

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	22,000	New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2019 Subseries S-3A, 5.000%, 7/15/35		7/28 at 100.00		AA	$	26,545,200
	15,085	New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2016S-1, 5.000%, 7/15/43		1/26 at 100.00		AA		17,280,622
		New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2019 Series A-1:
	12,000	5.000%, 8/01/40		8/28 at 100.00		AAA		14,278,440
	7,220	5.000%, 8/01/42		8/28 at 100.00		AAA		8,564,725
	14,965	New York City, New York, General Obligation Bonds, Fiscal 2018 Series E-1, 5.000%, 3/01/44		3/28 at 100.00		Aa1		17,552,448
		New York City, New York, General Obligation Bonds, Fiscal 2018 Series F-1:
	7,000	5.000%, 4/01/39		4/28 at 100.00		Aa1		8,296,680
	9,775	5.000%, 4/01/43		4/28 at 100.00		Aa1		11,482,301
	5,000	5.000%, 4/01/45		4/28 at 100.00		Aa1		5,865,550
		New York City, New York, General Obligation Bonds, Fiscal 2019 Series D-1:
	3,800	5.000%, 12/01/40		12/28 at 100.00		Aa1		4,526,788
	13,695	5.000%, 12/01/44		12/28 at 100.00		Aa1		16,224,329
	20,730	New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A		11/24 at 100.00		N/R		22,117,666
		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,:
	24,465	5.000%, 6/15/42		6/27 at 100.00		AAA		28,771,819
	15,000	5.000%, 6/15/46		6/27 at 100.00		AAA		17,563,350
	7,820	5.000%, 6/15/48		6/28 at 100.00		AAA		9,265,840
	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 (AMT)		8/21 at 100.00		BB		2,771,055
	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 (AMT)		No Opt. Call		BB		2,577,909
		New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Delta Air Lines, Inc. – LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018:
	4,000	5.000%, 1/01/24 (AMT)		No Opt. Call		Baa3		4,487,840
	10,515	5.000%, 1/01/27 (AMT)		No Opt. Call		Baa3		12,391,507
	10,000	5.000%, 1/01/28 (AMT)		No Opt. Call		Baa3		11,940,700
		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 (AMT)		7/24 at 100.00		AA		8,398,922
	6,060	5.000%, 7/01/46 (AMT)		7/24 at 100.00		BBB		6,562,435
	8,280	5.250%, 1/01/50 (AMT)		7/24 at 100.00		BBB		9,034,474
	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		BBB+		842,946

64

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	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–	$	1,232,735
		Suffolk County, New York, General Obligation Bonds, Refunding Series 2017A:
	4,000	5.000%, 2/01/25 – AGM Insured		No Opt. Call		AA		4,640,240
	5,000	5.000%, 2/01/26 – AGM Insured		No Opt. Call		AA		5,894,150
	3,675	5.000%, 2/01/27 – AGM Insured		No Opt. Call		AA		4,402,246
	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–		1,589,650
	1,400	Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010B, 5.000%, 9/01/20		No Opt. Call		A3		1,463,644
	4,405	TSASC Inc, New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48		6/27 at 100.00		N/R		4,415,264
	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+		8,642,320
	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		Baa2		5,692,596
	403,195	Total New York						461,312,178
		North Carolina – 0.3%
	1,780	Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust 2016-XL0012, 10.877%, 7/01/38 (IF) (5)		7/20 at 100.00		N/R		1,988,741
	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		Baa2 (4)		1,118,340
		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		362,309
	890	5.000%, 10/01/37		10/24 at 102.00		N/R		946,568
		North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A:
	1,930	5.000%, 7/01/47		7/26 at 100.00		BBB–		2,100,901
	1,005	5.000%, 7/01/51		7/26 at 100.00		BBB–		1,091,330
	4,310	5.000%, 7/01/54		7/26 at 100.00		BBB–		4,674,497
	11,250	Total North Carolina						12,282,686
		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)		2,851,591
	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		2,112,612
		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–		2,161,488
	3,535	5.000%, 12/01/32		12/21 at 100.00		A–		3,752,509
	10,280	Total North Dakota						10,878,200

65

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio – 2.4%
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
$	8,960	5.125%, 6/01/24		4/19 at 100.00		B–	$	8,553,216
	12,920	5.875%, 6/01/30		4/19 at 100.00		B–		12,645,450
	4,060	5.750%, 6/01/34		4/19 at 100.00		B–		3,925,777
	20,260	5.875%, 6/01/47		4/19 at 100.00		B–		19,808,202
		Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010:
	3,000	5.250%, 11/01/29 (Pre-refunded 11/01/20)		11/20 at 100.00		A (4)		3,169,710
	2,000	5.750%, 11/01/40 (Pre-refunded 11/01/20)		11/20 at 100.00		A (4)		2,128,680
	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		3,136,064
	525	Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.625%, 8/15/29		5/19 at 100.00		A–		526,586
	5,820	Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21)		11/21 at 100.00		Baa1 (4)		6,477,427
	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		1,599,150
	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–		3,616,235
	3,700	Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (7)		No Opt. Call		N/R		3,182,000
	2,500	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (7)		No Opt. Call		N/R		2,150,000
	1,075	Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, Series 2017, 4.250%, 1/15/38 (AMT), 144A		1/28 at 100.00		N/R		1,110,798
	1,500	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) (7)		No Opt. Call		N/R		1,290,000
	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) (7)		No Opt. Call		N/R		602,000
	7,625	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) (AMT) (7)		No Opt. Call		N/R		6,557,500
		Southeastern Ohio Port Authority, Hosptial Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012:
	1,025	5.000%, 12/01/22		No Opt. Call		BB–		1,072,201
	3,000	5.750%, 12/01/32		12/22 at 100.00		BB–		3,239,370
	2,000	6.000%, 12/01/42		12/22 at 100.00		BB–		2,127,000
	700	Toledo Lucas County Port Authority, Ohio, Revenue Bonds, StoryPoint Waterville Project, Series 2016A-1, 6.125%, 1/15/34, 144A		1/24 at 104.00		N/R		727,790

66

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	2,940	Trumbull County, Ohio, Multifamily Housing Revenue Bonds, Royal Mall Apartments, Series 2007, 5.000%, 5/20/49 (AMT)		5/19 at 101.00		Aa1	$	2,969,870
		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		Ba2		2,130,620
	2,695	5.000%, 12/01/32		12/22 at 100.00		Ba2		2,829,588
	97,045	Total Ohio						95,575,234
		Oklahoma – 0.6%
	1,470	Oklahoma City Airport Trust, Oklahoma, Revenue Bonds, Thirty-Third Series 2018, 5.000%, 7/01/47 (AMT)		7/28 at 100.00		A+		1,675,050
		Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:
	4,385	5.500%, 8/15/52		8/28 at 100.00		Baa3		5,056,124
	3,250	5.500%, 8/15/57		8/28 at 100.00		Baa3		3,724,793
	2,500	Oklahoma Development Finance Authority, Revenue Bonds, Provident Oklahoma Education Resources Inc- Cross Village Student Housing Project, Series 2017, 5.000%, 8/01/52		8/27 at 100.00		BB		2,319,825
	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) (AMT)		6/25 at 100.00		BB–		9,983,638
	20,695	Total Oklahoma						22,759,430
		Oregon – 0.5%
	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+		9,411,200
		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		1,993,383
	1,600	5.500%, 10/01/49		10/24 at 100.00		N/R		1,723,104
	840	Oregon Facilities Authority, Revenue Bonds, Concordia University Project, Series 2010A, 6.125%, 9/01/30 (Pre-refunded 9/01/20), 144A		9/20 at 100.00		N/R (4)		886,200
	360	Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A, 5.150%, 7/01/42 (AMT)		1/20 at 100.00		Aaa		364,741
	7,155	Port of Portland, Oregon, International Airport Revenue Bonds, Series 2010-20C, 5.000%, 7/01/27 (AMT)		7/20 at 100.00		AA–		7,416,730
	20,310	Total Oregon						21,795,358
		Pennsylvania – 3.6%
	315	Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, 5.750%, 8/01/42 (AMT)		8/22 at 100.00		BB–		318,484
	1,125	Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carlow University, Series 2011, 6.750%, 11/01/31 (Pre-refunded 11/01/21)		11/21 at 100.00		BBB (4)		1,269,652
		Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018:
	500	5.000%, 5/01/23, 144A		No Opt. Call		Ba3		535,940
	300	5.000%, 5/01/42, 144A		5/28 at 100.00		Ba3		325,404

67

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Subordinate Lien, Series 2018:
$	6,835	5.000%, 5/01/28, 144A		No Opt. Call		N/R	$	7,270,595
	1,580	5.375%, 5/01/42, 144A		5/28 at 100.00		N/R		1,667,595
	3,750	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) (7)		No Opt. Call		N/R		3,225,000
		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) (7)		No Opt. Call		N/R		5,800,000
	455	3.500%, 4/01/41(Mandatory Put 6/01/20) (7)		No Opt. Call		N/R		391,300
	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) (7)		No Opt. Call		N/R		1,720,000
	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+		1,660,334
	5,500	Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2018A, 5.000%, 1/01/39		1/29 at 100.00		A+		6,577,230
		Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2018A:
	2,185	5.000%, 9/01/43		9/28 at 100.00		A+		2,488,562
	5,445	5.000%, 9/01/48		9/28 at 100.00		A+		6,189,440
	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)		740,264
	910	Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Tender Option Bond Trust 2017-XF2454, 13.692%, 8/01/24 (IF) (5)		8/20 at 100.00		N/R		1,064,682
		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		Ba1		2,027,400
	1,310	5.250%, 1/15/46		1/25 at 100.00		Ba1		1,429,053
	1,650	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (AMT)		11/24 at 100.00		N/R		1,734,711
	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		1,022,570
	4,500	Pennsylvania Economic Development Financing Authority, Governmental Lease Revenue Bonds, Forum Place Project, Series 2012, 5.000%, 3/01/34		3/22 at 100.00		A		4,723,110
	2,105	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)		2,155,878

68

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015:
$	10,395	5.000%, 12/31/38 (AMT)		6/26 at 100.00		BBB	$	11,454,043
	3,750	5.000%, 6/30/42 (AMT)		6/26 at 100.00		BBB		4,101,150
	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)		1,261,800
	7,405	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45		6/25 at 100.00		A+		8,272,940
	15,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33 – AGM Insured		6/26 at 100.00		AA		18,627,000
		Philadelphia Authority for Industrial Development, City Service Agreement Revenue Bonds, Series 2018:
	2,500	5.000%, 5/01/36		5/28 at 100.00		A		2,894,425
	2,250	5.000%, 5/01/37		5/28 at 100.00		A		2,594,812
	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		491,962
	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)		2,091,560
	4,000	Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B, 5.000%, 7/01/34 (AMT)		7/27 at 100.00		A		4,638,200
	260	Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A, 5.000%, 6/15/40 – AGM Insured		6/20 at 100.00		AA		269,116
	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)		2,533,843
	8,875	Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Refunding Series 2012, 5.000%, 11/01/28		11/22 at 100.00		A+		9,788,681
	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		2,490,648
	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 (Pre-refunded 6/01/21)		6/21 at 100.00		AA– (4)		3,220,680
		The Hospitals and Higher Education Facilities Authority of Philadelphia, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017:
	8,865	5.000%, 7/01/31		7/27 at 100.00		BBB–		9,909,386
	5,400	5.000%, 7/01/34		7/27 at 100.00		BBB–		5,952,096
	1,930	The Hospitals and Higher Education Facilities Authority of Philadelphia, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017, 5.000%, 7/01/32		7/27 at 100.00		BBB–		2,142,435
	133,465	Total Pennsylvania						147,071,981
		South Carolina – 1.3%
	3,330	Columbia, South Carolina, Stormwater System Revenue Bonds, City Stormwater Improvements, Green Series 2018, 5.000%, 2/01/48		2/28 at 100.00		AA+		3,925,171

69

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Carolina (continued)
$	325	Greenville, South Carolina, Hospital Facilities Revenue Bonds, Series 1990, 6.000%, 5/01/20		No Opt. Call		A	$	331,906
	10,000	Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 10/01/48 (Mandatory Put 2/01/24)		11/23 at 100.30		Aa2		10,811,800
	3,000	South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Prisma Health Obligated Group, Series 2018A, 5.000%, 5/01/48		5/28 at 100.00		A		3,398,880
	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+		5,563,950
	7,140	South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Refunding Series 2012D, 5.000%, 12/01/43		6/22 at 100.00		A+		7,538,055
	2,385	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014B, 5.000%, 12/01/31		6/24 at 100.00		A+		2,649,520
	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+		2,489,620
	2,000	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.500%, 12/01/33		12/23 at 100.00		A+		2,249,280
	4,520	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013E, 5.000%, 12/01/48		12/23 at 100.00		A+		4,879,521
		South Carolina State Ports Authority Revenue Bonds, Series 2018:
	4,860	5.000%, 7/01/31 (AMT)		7/28 at 100.00		A+		5,798,806
	3,760	5.000%, 7/01/32 (AMT)		7/28 at 100.00		A+		4,458,571
	48,485	Total South Carolina						54,095,080
		South Dakota – 0.1%
	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		2,682,625
	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		1,035,280
	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+		999,844
	4,410	Total South Dakota						4,717,749
		Tennessee – 1.5%
	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 – SYNCORA GTY Insured (Pre-refunded 6/01/19)		6/19 at 100.00		AA (4)		3,687,469
		Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2008D:
	510	6.000%, 10/01/23		5/19 at 100.00		BBB+		511,882
	1,500	6.125%, 10/01/28		5/19 at 100.00		BBB+		1,505,670
	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		3,054,480
		Greeneville Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Ballad Health, Series 2018A:
	5,000	5.000%, 7/01/31		7/23 at 100.00		A		5,470,100
	4,860	5.000%, 7/01/32		7/23 at 100.00		A		5,300,559
	1,660	5.000%, 7/01/33		7/23 at 100.00		A		1,804,238
	6,500	5.000%, 7/01/34		7/23 at 100.00		A		7,048,470

70

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee (continued)
$	8,500	Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2018, 5.000%, 7/01/47 (AMT)		7/28 at 100.00		A	$	9,736,835
	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		1,544,558
	1,900	Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 5.500%, 6/15/37, 144A (7)		6/27 at 100.00		N/R		1,514,566
	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		Aa1		5,857,482
		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)		218,659
	785	5.000%, 10/01/39 (Pre-refunded 10/01/19)		10/19 at 100.00		AA+ (4)		798,753
		South Blount County Utility District, Tennessee, Waterworks Revenue Bonds, Improvement & Refunding Series 2009:
	635	5.250%, 12/01/39 – AGM Insured (Pre-refunded 12/01/19)		12/19 at 100.00		AA (4)		650,443
	1,365	5.250%, 12/01/39 – AGM Insured		12/19 at 100.00		AA		1,396,545
	1,000	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/21		No Opt. Call		A		1,067,880
	10,870	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2017A, 4.000%, 5/01/48 (Mandatory Put 5/01/23)		5/23 at 100.43		A3		11,501,330
	58,650	Total Tennessee						62,669,919
		Texas – 7.2%
		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–		134,886
	740	5.000%, 12/01/51		12/26 at 100.00		BBB–		795,981
	10,000	Arlington, Texas, Special Tax Revenue Bonds, Subordinate Lien Series 2018C, 5.000%, 2/15/48 – BAM Insured		2/23 at 100.00		AA		10,792,900
		Bexar County Hospital District, Texas, Certificates of Obligation, Refunding Limited Tax Series 2019:
	1,195	5.000%, 2/15/34		2/28 at 100.00		Aa1		1,433,271
	5,555	5.000%, 2/15/37		2/28 at 100.00		Aa1		6,564,066
	1,730	5.000%, 2/15/39		2/28 at 100.00		Aa1		2,032,144
	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		5,351,438
	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		A– (4)		1,799,060
	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		A– (4)		3,667,546
	5,410	Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2018, 5.000%, 1/01/48		1/28 at 100.00		A–		6,112,867
	1,970	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		5/19 at 100.00		B		1,974,019

71

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	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+	$	2,926,884
	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+		1,421,837
	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–		2,549,075
	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–		10,311,876
	12,265	Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Refunding Series 2016A, 5.000%, 12/01/46 (UB) (5)		12/25 at 100.00		AA+		13,948,126
		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+		3,704,365
	1,500	5.000%, 11/01/25		11/20 at 100.00		A+		1,585,650
	20	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B, 5.000%, 11/01/35		11/20 at 100.00		A+		20,978
	5,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012E, 5.000%, 11/01/42 (AMT)		11/21 at 100.00		A+		5,329,250
	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		1,768,951
	1,075	Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (AMT)		10/22 at 100.00		BB		1,078,934
	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		Baa2		9,056,832
	3,000	Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28 (Pre-refunded 7/01/20)		7/20 at 100.00		N/R (4)		3,134,220
	1,270	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011A, 5.000%, 7/01/25 (AMT)		7/21 at 100.00		A+		1,357,719
	1,500	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines Inc Terminal Improvement Project, Refunding Series 2015C, 5.000%, 7/15/20 (AMT)		No Opt. Call		BB		1,546,080
	1,735	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines Inc. Terminal Improvement Project, Refunding Series 2015B-1, 5.000%, 7/15/30 (AMT)		7/25 at 100.00		BB		1,915,006
	250	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (AMT)		7/24 at 100.00		BB		276,293
	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		10,385,444
	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		A		2,105,379
	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		A		375,083

72

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		A	$	1,529,728
	1,280	5.000%, 8/15/35		8/25 at 100.00		A		1,411,187
	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 (AMT)		11/22 at 100.00		A3		7,323,523
	1,800	Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2018, 5.000%, 5/15/48		5/28 at 100.00		A+		2,094,012
	3,020	Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31 (AMT), 144A		10/21 at 105.00		BB–		3,141,223
	4,590	Mission Economic Development Corporation, Texas, Water Supply Revenue Bonds, Enviro Water Minerals Project, Green Bonds, Series 2015, 7.750%, 1/01/45 (AMT), 144A (7)		1/26 at 102.00		N/R		4,131,000
		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		BBB–		694,380
	805	5.000%, 11/01/51		11/23 at 103.00		BBB–		837,925
	570	New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy Midtown Park Project, Series 2018, 5.500%, 7/01/54		7/24 at 103.00		N/R		579,770
		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		BB+		1,164,911
	1,550	5.000%, 11/15/46		11/24 at 102.00		BB+		1,623,888
	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		801,440
	8,455	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		BBB+		8,516,130
	30	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, 5.000%, 4/01/31		4/26 at 100.00		BB		30,765
		New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, LLC-Texas A&M University-Corpus Christi Project, Series 2016A:
	360	5.000%, 4/01/36		4/26 at 100.00		BB		363,384
	65	5.000%, 4/01/48		4/26 at 100.00		BB		63,796
	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		6,930,412

73

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		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,:
$	1,275	5.000%, 4/01/31		4/26 at 100.00		BBB–	$	1,330,781
	1,290	5.000%, 4/01/36		4/26 at 100.00		BBB–		1,323,682
	2,445	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – San Antonio 1, LLC – Texas A&M University – San Antonio Project,, 5.000%, 4/01/48		4/26 at 100.00		BBB–		2,460,770
	1,250	New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation – Stephenville II, LLC – Tarleton State University Project, Series 2014A, 5.000%, 4/01/34		4/24 at 100.00		BBB–		1,329,975
	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		3,088,080
	10,000	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		B3		9,265,900
	10,880	North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C, 0.000%, 9/01/45 (Pre-refunded 9/01/31) (6)		9/31 at 100.00		N/R (4)		13,908,557
	2,000	North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41 (Pre-refunded 9/01/21)		9/21 at 100.00		N/R (4)		2,184,940
	560	North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A, 6.000%, 1/01/28		5/19 at 100.00		A+		561,736
	4,410	North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/34		1/25 at 100.00		A		4,957,678
	4,395	Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Refunding Series 2018A, 5.000%, 10/01/32 (AMT)		10/28 at 100.00		AAA		5,308,193
	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		2,828,968
		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		695,296
	1,805	5.000%, 2/01/34		2/24 at 100.00		Ba2		1,879,528
	385	5.125%, 2/01/39		2/24 at 100.00		Ba2		399,145
	645	SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series 2007, 5.500%, 8/01/27		No Opt. Call		A		774,058
	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)		9,189,109
	5,950	Stephen F Austin State University, Texas, Revenue Bonds, Refunding & Improvement Series 2016, 5.000%, 10/15/42		10/28 at 100.00		AA–		6,871,595
	3,435	Tarrant County Cultural Education Facilities Finance Corporation Revenue Bonds, Texas, Christus Health, Refunding Series 2018B, 5.000%, 7/01/35		1/29 at 100.00		A+		4,033,446

74

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		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)	$	73,721
	870	5.500%, 8/15/45 (Pre-refunded 8/15/20)		8/20 at 100.00		N/R (4)		916,249
	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		3,398,310
	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		4,019,421
	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		875,302
	10,115	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 (AMT)		12/25 at 100.00		Baa3		11,066,215
	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 (AMT)		9/23 at 100.00		Baa3		8,469,460
	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		8,274,630
	1,750	Texas State, General Obligation Bonds, Water Financial Assistance, Tender Option Bond Trust 2015-XF0075, 13.617%, 8/01/34 (IF)		8/19 at 100.00		AAA		1,826,300
		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–		8,133,840
	7,000	0.000%, 8/15/37		8/24 at 56.94		A–		3,287,970
	10,000	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+		10,908,900
		Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010:
	600	7.000%, 11/01/30 (Pre-refunded 11/01/20)		11/20 at 100.00		N/R (4)		649,770
	80	7.000%, 11/01/30		11/20 at 100.00		BBB+		83,574
	500	Uptown Development Authority, Houston, Texas, Tax Increment Contract Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 5.250%, 9/01/24 (Pre-refunded 9/01/19)		9/19 at 100.00		BBB (4)		507,530
	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		1,249,452
	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		1,378,855
	283,930	Total Texas						294,204,570
		Utah – 1.3%
	20,000	Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A, 5.000%, 7/01/42 (AMT)		7/27 at 100.00		A+		22,818,800
	8,180	Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2018A, 5.000%, 7/01/43 (AMT)		7/28 at 100.00		A+		9,440,620

75

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Utah (continued)
$	7,000	Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2018A, 5.000%, 5/15/41		5/26 at 100.00		AA+	$	8,023,750
		Utah State Charter School Finance Authority Charter School Revenue Bonds, Vista at Entrada School of Performing Arts and Technology) Series 2012:
	475	5.600%, 7/15/22		No Opt. Call		BBB–		494,950
	850	6.300%, 7/15/32		7/22 at 100.00		BBB–		912,016
	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		1,012,780
	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–		1,298,550
	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		1,155,237
		Utah State Charter School Finance Authority, Revenue Bonds, George Washington Academy Project, Series 2011A:
	1,950	7.750%, 7/15/31 (Pre-refunded 7/15/21)		7/21 at 100.00		N/R (4)		2,179,905
	3,520	8.000%, 7/15/41 (Pre-refunded 7/15/21)		7/21 at 100.00		N/R (4)		4,008,189
	45,360	Total Utah						51,344,797
		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)		1,953,938
	1,000	6.250%, 1/01/33 (Pre-refunded 1/01/21)		1/21 at 100.00		N/R (4)		1,078,690
	2,815	Total Vermont						3,032,628
		Virginia – 1.9%
	10,000	Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53		4/22 at 100.00		BBB+		10,482,500
	3,745	Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009B, 0.000%, 10/01/31 – AGC Insured		No Opt. Call		AA		2,479,864
	2,000	Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Bonds, Series 2011C, 5.000%, 10/01/26 (AMT)		10/21 at 100.00		AA–		2,155,480
	1,020	Peninsula Town Center Community Development Authority, Virginia, Special Obligation Bonds, Refunding Series 2018, 5.000%, 9/01/37, 144A		9/27 at 100.00		N/R		1,086,229
	10,070	Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47		4/19 at 100.00		B–		9,970,206
	1,000	Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Green Series 2015B, 5.000%, 7/01/45, 144A		7/25 at 100.00		BB+		1,044,050
		Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017:
	3,400	5.000%, 12/31/47 (AMT)		6/27 at 100.00		BBB		3,736,770
	15,715	5.000%, 12/31/49 (AMT)		6/27 at 100.00		BBB		17,236,369
	2,110	5.000%, 12/31/52 (AMT)		6/27 at 100.00		BBB		2,307,960
	9,750	5.000%, 12/31/56 (AMT)		6/27 at 100.00		BBB		10,635,787
	5,500	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC Project, Series 2012, 5.000%, 1/01/40 (AMT)		1/22 at 100.00		BBB		5,808,605

76

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia (continued)
		Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
$	3,515	5.250%, 1/01/32 (AMT)		7/22 at 100.00		BBB	$	3,764,565
	6,515	5.500%, 1/01/42 (AMT)		7/22 at 100.00		BBB		7,000,433
	74,340	Total Virginia						77,708,818
		Washington – 2.7%
	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		AA– (4)		6,619,511
	960	FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Tender Option Bond Trust 2016-XL0006, 15.382%, 6/01/34 (IF) (5)		6/19 at 100.00		AA		984,998
	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		2,535,138
	400	Ocean Shores, Washington, Local Improvement District 2007-01 Bonds, 2011, 7.250%, 2/01/31		No Opt. Call		BBB+		491,752
	5,385	Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2018A, 5.000%, 5/01/30 (AMT)		5/27 at 100.00		AA–		6,361,085
		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		4,336,900
	1,950	5.000%, 12/01/31		12/26 at 100.00		Baa2		2,196,012
	4,000	5.000%, 12/01/32		12/26 at 100.00		Baa2		4,481,920
	1,120	5.000%, 12/01/37		12/26 at 100.00		Baa2		1,231,384
	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+		2,102,300
	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)		3,748,337
		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)		3,021,559
	2,435	5.000%, 12/01/42 (Pre-refunded 12/01/21)		12/21 at 100.00		N/R (4)		2,651,350
	1,600	Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A, 5.000%, 11/15/28		5/24 at 100.00		AA–		1,814,800
		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		Ba1		6,450,180
	5,930	5.000%, 12/01/46		12/26 at 100.00		Ba1		6,348,955
	4,320	Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Series 2018, 5.000%, 7/01/43		7/28 at 100.00		A1		4,952,016
		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)		1,168,155
	845	6.250%, 7/01/24		7/19 at 100.00		Baa1		853,281
	2,000	7.000%, 7/01/39 (Pre-refunded 7/01/19)		7/19 at 100.00		Baa1 (4)		2,026,200
	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)		3,055,860

77

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
		Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016:
$	1,155	5.000%, 7/01/41, 144A		7/26 at 100.00		N/R	$	1,198,255
	2,000	5.000%, 7/01/46, 144A		7/26 at 100.00		N/R		2,068,620
	3,805	5.000%, 7/01/51, 144A		7/26 at 100.00		N/R		3,923,640
	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–		1,210,594
	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–		2,403,320
		Washington State, General Obligation Bonds, Various Purpose Series 2015B:
	8,520	5.000%, 2/01/36		2/25 at 100.00		AA+		9,748,584
	20,415	5.000%, 2/01/38		2/25 at 100.00		AA+		23,185,315
	101,240	Total Washington						111,170,021
		West Virginia – 0.5%
	15,500	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Cabell Huntington Hospital, Inc. Project, Refunding & Improvement Series 2018A, 5.000%, 1/01/43		1/29 at 100.00		BBB+		17,521,045
	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		1,033,648
	1,000	West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Thomas Health System, Inc., Series 2008, 6.500%, 10/01/28 (7)		4/19 at 100.00		N/R		753,160
	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		1,623,991
	19,105	Total West Virginia						20,931,844
		Wisconsin – 3.3%
	5,000	Oneida Tribe of Indians of Wisconsin, Retail Sales Revenue Bonds, Series 2011-144A, 6.500%, 2/01/31, 144A		5/19 at 102.00		BBB+		5,115,150
	1,250	Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A, 5.000%, 2/01/36, 144A		2/26 at 100.00		N/R		1,271,612
	2,155	Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North Carolina Charter Educational Foundation Project, Series 2016A, 5.000%, 6/15/46, 144A		6/26 at 100.00		N/R		1,952,969
		Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Voyager Foundation Inc of North Carolina, Series 2012A:
	195	5.500%, 10/01/22		No Opt. Call		Baa3		204,346
	375	6.000%, 10/01/32		10/22 at 100.00		Baa3		402,923
		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		Baa3		1,121,710
	500	5.125%, 10/01/45		10/22 at 100.00		Baa3		516,045

78

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
		Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1:
$	11	0.000%, 1/01/47, 144A		No Opt. Call		N/R	$	343
	10	0.000%, 1/01/48, 144A		No Opt. Call		N/R		298
	9	0.000%, 1/01/49, 144A		No Opt. Call		N/R		291
	9	0.000%, 1/01/50, 144A		No Opt. Call		N/R		280
	9	0.000%, 1/01/51, 144A		No Opt. Call		N/R		273
	12	0.000%, 1/01/52, 144A		No Opt. Call		N/R		353
	11	0.000%, 1/01/53, 144A		No Opt. Call		N/R		346
	11	0.000%, 1/01/54, 144A		No Opt. Call		N/R		333
	11	0.000%, 1/01/55, 144A		No Opt. Call		N/R		324
	11	0.000%, 1/01/56, 144A		No Opt. Call		N/R		315
	518	5.500%, 7/01/56, 144A		3/28 at 100.00		N/R		494,408
	12	0.000%, 1/01/57, 144A		No Opt. Call		N/R		347
	11	0.000%, 1/01/58, 144A		No Opt. Call		N/R		336
	11	0.000%, 1/01/59, 144A		No Opt. Call		N/R		326
	11	0.000%, 1/01/60, 144A		No Opt. Call		N/R		317
	11	0.000%, 1/01/61, 144A		No Opt. Call		N/R		311
	10	0.000%, 1/01/62, 144A		No Opt. Call		N/R		301
	10	0.000%, 1/01/63, 144A		No Opt. Call		N/R		293
	10	0.000%, 1/01/64, 144A		No Opt. Call		N/R		285
	10	0.000%, 1/01/65, 144A		No Opt. Call		N/R		279
	11	0.000%, 1/01/66, 144A		No Opt. Call		N/R		300
	128	0.000%, 1/01/67, 144A		No Opt. Call		N/R		3,591
		Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B:
	27	0.000%, 1/01/46, 144A		No Opt. Call		N/R		851
	27	0.000%, 1/01/47, 144A		No Opt. Call		N/R		833
	26	0.000%, 1/01/48, 144A		No Opt. Call		N/R		821
	26	0.000%, 1/01/49, 144A		No Opt. Call		N/R		809
	26	0.000%, 1/01/50, 144A		No Opt. Call		N/R		792
	28	0.000%, 1/01/51, 144A		No Opt. Call		N/R		862
	736	3.750%, 7/01/51, 144A		3/28 at 100.00		N/R		679,012
	28	0.000%, 1/01/52, 144A		No Opt. Call		N/R		851
	28	0.000%, 1/01/53, 144A		No Opt. Call		N/R		834
	27	0.000%, 1/01/54, 144A		No Opt. Call		N/R		824
	27	0.000%, 1/01/55, 144A		No Opt. Call		N/R		807
	27	0.000%, 1/01/56, 144A		No Opt. Call		N/R		792
	27	0.000%, 1/01/57, 144A		No Opt. Call		N/R		782
	26	0.000%, 1/01/58, 144A		No Opt. Call		N/R		766
	26	0.000%, 1/01/59, 144A		No Opt. Call		N/R		757
	26	0.000%, 1/01/60, 144A		No Opt. Call		N/R		747
	25	0.000%, 1/01/61, 144A		No Opt. Call		N/R		733
	25	0.000%, 1/01/62, 144A		No Opt. Call		N/R		723
	25	0.000%, 1/01/63, 144A		No Opt. Call		N/R		709
	25	0.000%, 1/01/64, 144A		No Opt. Call		N/R		700
	24	0.000%, 1/01/65, 144A		No Opt. Call		N/R		692
	24	0.000%, 1/01/66, 144A		No Opt. Call		N/R		678
	314	0.000%, 1/01/67, 144A		No Opt. Call		N/R		8,786
		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		1,635,180
	5,000	6.250%, 12/01/42		12/22 at 100.00		N/R		5,066,250

79

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
$	1,940	Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2014, 5.250%, 4/01/30 (AMT)		11/24 at 100.00		N/R	$	2,114,794
	3,845	Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2016, 4.000%, 8/01/35 (AMT)		8/26 at 100.00		N/R		3,896,100
	10,000	Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 6.750%, 12/01/42, 144A		12/27 at 100.00		N/R		11,645,600
	2,735	Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Gulf Coast Zoo, Series 2018A, 6.500%, 9/01/48		9/28 at 100.00		N/R		2,767,410
	1,575	Public Finance Authority of Wisconsin, Revenue Bonds, Carolina International School, Series 2013A, 7.000%, 8/01/43, 144A		8/23 at 100.00		BB+		1,730,185
		Public Finance Authority of Wisconsin, Revenue Bonds, Denver international Airport Great Hall Project, Series 2017:
	1,320	5.000%, 9/30/37 (AMT)		9/27 at 100.00		BBB		1,489,079
	1,140	5.000%, 9/30/49 (AMT)		9/27 at 100.00		BBB		1,263,268
	5,000	Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.300%, 11/01/30 (AMT)		5/26 at 100.00		BBB–		5,188,400
	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		2,839,935
	1,455	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.250%, 4/15/24 (Pre-refunded 4/15/20)		4/20 at 100.00		AA (4)		1,509,955
	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		N/R (4)		1,289,214
	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		2,072,020
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B:
	35	4.500%, 2/15/40		2/22 at 100.00		A–		36,139
	1,000	5.000%, 2/15/40		2/22 at 100.00		A–		1,044,440
	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–		5,489,000
	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		19,305,000
	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)		7,772,660
	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+		478,396
	2,980	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc, Series 2014A, 5.000%, 7/01/34		7/24 at 100.00		A		3,273,649
	2,100	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A, 4.350%, 7/01/36		7/21 at 100.00		A		2,126,775
	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		3,700,815

80

Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		Wisconsin (continued)
		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	$	5,240,550
	4,435	5.000%, 12/01/44		12/22 at 102.00				N/R		4,627,834
	4,225	5.250%, 12/01/49		12/22 at 102.00				N/R		4,450,953
	13,950	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39		10/21 at 100.00				AA–		14,882,139
		Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project Series 2014:
	1,880	5.250%, 10/01/39		10/22 at 12.00				N/R		1,999,530
	1,000	5.375%, 10/01/44		10/22 at 12.00				N/R		1,067,640
	3,500	5.500%, 10/01/49		10/22 at 12.00				N/R		3,750,915
	128,397	Total Wisconsin								135,546,991
		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		2,022,360
	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)		4,912,020
		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				A–		857,824
	2,500	6.000%, 12/01/36		12/21 at 100.00				A–		2,704,325
	3,650	West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 7.000%, 6/01/40		6/21 at 100.00				BBB		3,916,048
	13,450	Total Wyoming								14,412,577
$	3,798,691	Total Municipal Bonds (cost $3,847,234,180)								4,080,462,815
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 (8), (9)		5.500%		7/15/19		N/R	$	86,494
	37	Las Vegas Monorail Company, Senior Interest Bonds (8), (9)		5.500%		7/15/55		N/R		18,323
	167	Total Transportation								104,817
		Industrials – 0.0%
	729	EWM P1 LLC (cash 15.000%, PIK 1.250%) (7), (9)		15.000%		9/01/28		N/R		548,642
	50	EWM P1 LLC (7), (9)		15.000%		9/01/28		N/R		36,166
	779	Total Industrials								584,808
$	946	Total Corporate Bonds (cost $785,848)								689,625
		Total Long-Term Investments (cost $3,848,020,028)								4,081,152,440
		Borrowings – (0.6)% (10)								(23,800,000	)
		Floating Rate Obligations – (1.6)%								(65,870,000	)
		Other Assets Less Liabilities – 2.0% (11)								81,452,555
		Net Assets – 100%							$	4,072,934,995

81

Nuveen All-American Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Investments in Derivatives

Futures Contracts

Description	Contract Position		Number of Contracts			Expiration Date		Notional Amount			Value			Unrealized Appreciation (Depreciation)			Variation Margin Receivable/ (Payable)
U.S. Treasury 10-year Note		Short		(270	)		6/19	$	(33,093,124	)	$	(33,539,063	)	$	(445,938	)	$	75,938

(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. Optional Call Provisions are not covered by the report of independent registered public accounting firm.

(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. Ratings are not covered by the report of independent registered public accounting firm.

(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.

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

(6) 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.

(7) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.

(8) The tax-exempt municipal bonds previously held by the Fund were surrendered in conjunction with the issuer’s bankruptcy reorganization plan. In return, the Fund received one or more senior interest corporate bonds.

(9) 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.

(10) Borrowings as a percentage of Total Investments is 0.6%

(11) 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, when applicable. The unrealized appreciation (depreciation) of OTC cleared and exchange-traded derivatives is recognized as part of cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.

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.

AMT Alternative Minimum Tax

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.

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.

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.

See accompanying notes to financial statements.

82

Nuveen Intermediate Duration Municipal Bond Fund

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 95.9%
		MUNICIPAL BONDS – 95.9%
		Alabama – 2.3%
$	7,630	Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A, 5.000%, 10/01/31 – AGM Insured (AMT)		10/27 at 100.00		AA	$	8,850,419
	6,665	Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 3 Series 2018A, 4.000%, 12/01/48 (Mandatory Put 12/01/23)		9/23 at 100.31		A3		7,101,091
	22,395	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016, 4.000%, 7/01/46 (Mandatory Put 6/01/21)		3/21 at 100.59		Aa2		23,315,659
	38,500	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47 (Mandatory Put 7/01/22)		4/22 at 100.52		Aa2		40,817,700
	28,940	Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Variable Rate Demand Obligations, Series 2008, 2.900%, 7/15/34 (Mandatory Put 12/12/23)		No Opt. Call		A–		29,734,692
	2,440	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		2,523,765
		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		2,283,923
	3,555	5.000%, 3/01/24		No Opt. Call		BBB		3,977,263
	2,235	5.000%, 3/01/25		No Opt. Call		BBB		2,540,927
	1,725	5.000%, 3/01/26		No Opt. Call		BBB		1,985,113
	12,295	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Fixed Rate Series 2018A, 4.000%, 4/01/49 (Mandatory Put 4/01/24)		1/24 at 100.27		A3		13,135,240
	16,005	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 2, Fixed Rate Series 2018A, 4.000%, 6/01/49 (Mandatory Put 6/01/24)		3/24 at 100.29		A3		17,218,019
	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		1,027,420
	145,465	Total Alabama						154,511,231
		Alaska – 0.4%
	10,000	Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2018B-II, 3.550%, 12/01/35		6/27 at 100.00		AA+		10,248,400
	5,275	Alaska Industrial Development and Export Authority, Loan Anticipation Revenue Notes, YKHC Project, Series 2017, 3.500%, 12/01/20		12/19 at 100.00		N/R		5,313,930
	3,000	Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/21		4/20 at 100.00		A1		3,097,170
	6,025	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32		4/19 at 100.00		B3		6,024,879

83

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Alaska (continued)
$	5,065	Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc Project, Refunding Series 2003B, 5.000%, 1/01/21		No Opt. Call		A1	$	5,341,498
	29,365	Total Alaska						30,025,877
		Arizona – 2.5%
	2,485	Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30		3/22 at 100.00		A–		2,614,468
		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		A1		1,267,715
	6,475	5.000%, 2/01/27		2/22 at 100.00		A1		7,025,181
	3,280	Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional School Southwest Las Vegas Nevada Campus, Series 2018, 5.250%, 7/01/22, 144A		7/19 at 101.00		N/R		3,267,274
		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		11,109,470
	16,235	5.000%, 7/01/26		7/22 at 100.00		A1		17,509,123
	16,760	5.000%, 7/01/27		7/22 at 100.00		A1		18,026,553
		Arizona State, Certificates of Participation, Refunding Series 2019A:
	5,570	5.000%, 10/01/26 (WI/DD, Settling 7/09/19)		No Opt. Call		Aa3		6,631,642
	5,570	5.000%, 10/01/27 (WI/DD, Settling 7/09/19)		No Opt. Call		Aa3		6,733,016
		Arizona State, State Lottery Revenue Bonds, Series 2010A:
	5,165	5.000%, 7/01/19 – AGM Insured		No Opt. Call		AA+		5,209,419
	5,015	5.000%, 7/01/20 – AGM Insured		No Opt. Call		AA+		5,231,598
	6,130	5.000%, 7/01/21 – AGM Insured		1/20 at 100.00		AA+ (4)		6,285,886
	7,500	5.000%, 7/01/22 – AGM Insured		1/20 at 100.00		AA+ (4)		7,690,725
	21,410	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2005, 2.400%, 12/01/35 (Mandatory Put 8/14/23)		No Opt. Call		A+		21,749,134
	2,440	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2007, 2.700%, 12/01/37 (Mandatory Put 8/14/23) (AMT)		No Opt. Call		A+		2,483,456
	6,000	Gilbert Public Facilities Municipal Property Corporation, Arizona, Revenue Bonds, Series 2009, 5.500%, 7/01/27 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		6,059,580
	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		2,179,260
	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+		1,404,322
	1,000	Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A, 4.125%, 9/01/38		9/28 at 100.00		A2		1,071,480
		Northern Arizona University, System Revenue Bonds, Refunding Series 2014:
	385	5.000%, 6/01/22		No Opt. Call		A+		423,500
	500	5.000%, 6/01/23		No Opt. Call		A+		563,880
		Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A:
	2,045	5.000%, 7/01/22 (Pre-refunded 7/01/20)		7/20 at 100.00		A+ (4)		2,132,812
	10,400	5.000%, 7/01/40 (Pre-refunded 7/01/20)		7/20 at 100.00		A+ (4)		10,846,576

84

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	4,850	Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools East Mesa and Cadence, Nevada Campuses, Series 2017A, 4.000%, 7/01/22, 144A		7/19 at 101.00		N/R	$	4,800,481
	3,480	Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy Traditional Schools Phoenix/East Mesa and Cadence, Nevada Campuses, Series 2017B, 4.000%, 7/01/22, 144A		7/19 at 101.00		N/R		3,444,434
	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–		2,773,066
	1,000	Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40		10/20 at 100.00		A–		1,043,620
	2,670	Pima County, Arizona, Sewer Revenue Bonds, Series 2010, 5.000%, 7/01/24 – AGM Insured (Pre-refunded 7/01/20)		7/20 at 100.00		AA (4)		2,784,650
	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+		741,163
	3,925	Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Tender Option Bond Trust 2015-XF2192, 10.731%, 12/01/24 (IF) (5)		12/21 at 100.00		AA		4,962,299
		Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007:
	2,720	5.000%, 12/01/32		No Opt. Call		A3		3,355,909
	350	5.000%, 12/01/37		No Opt. Call		A3		438,106
	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		7/19 at 100.00		Aa2 (4)		1,362,812
	162,865	Total Arizona						173,222,610
		Arkansas – 0.5%
	1,000	Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Series 2013, 5.000%, 12/01/33		12/23 at 100.00		A1		1,122,920
		Bentonville School District 006, Benton County, Arkansas, General Obligation Bonds, Refunding & Construction Series 2018B:
	5,255	3.000%, 6/01/29		6/26 at 100.00		Aa2		5,429,624
	4,170	3.500%, 6/01/38		6/26 at 100.00		Aa2		4,257,945
	560	Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds, Series 2006A, 4.500%, 11/01/19 – AGM Insured		5/19 at 100.00		AA		561,344
	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		4,575,276
		Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014:
	500	5.000%, 7/01/22		No Opt. Call		A+		550,255
	800	5.000%, 7/01/23		No Opt. Call		A+		903,008
	1,610	5.000%, 7/01/26		7/24 at 100.00		A+		1,853,883
	1,485	5.000%, 7/01/28		7/24 at 100.00		A+		1,700,369
	1,935	5.000%, 7/01/29		7/24 at 100.00		A+		2,210,467
	1,000	5.000%, 7/01/30		7/24 at 100.00		A+		1,138,940
	4,585	5.000%, 7/01/34		7/24 at 100.00		A+		5,179,491

85

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)			Value
		Arkansas (continued)
		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+		$	2,469,441
	1,780	5.000%, 12/01/27		12/24 at 100.00		A+			2,049,955
	560	Rogers, Arkansas, Sales and Use Tax Bonds, Improvement Series 2018B, 3.875%, 11/01/39		11/26 at 100.00		AA–			584,802
	1,000	University of Arkansas, Various Facilities Revenue Bonds, UAMS Campus, Refunding Series 2014, 5.000%, 3/01/21		No Opt. Call		Aa2			1,065,190
	32,905	Total Arkansas							35,652,910
		California – 5.9%
	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+			1,609,509
	7,435	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+			6,723,619
	515	California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Series 2009C, 5.125%, 3/01/20		5/19 at 100.00		A+			516,385
		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+			1,389,180
	1,845	5.000%, 8/15/36		8/27 at 100.00		BBB+			2,126,971
		California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A:
	5,835	3.250%, 12/31/32 – AGM Insured (AMT)		6/28 at 100.00		AA			5,882,614
	4,000	5.000%, 12/31/33 (AMT)		6/28 at 100.00		BBB+			4,671,360
	5,000	5.000%, 12/31/34 (AMT)		6/28 at 100.00		BBB+			5,819,850
	15,000	California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Series 2017A, 2.000%, 12/01/44 (Mandatory Put 12/01/20) (AMT)		No Opt. Call		A–			15,018,300
	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) (AMT)		No Opt. Call		A–			3,695,557
	16,835	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Series 2015A-1, 3.375%, 7/01/25 (AMT)		No Opt. Call		A–			17,679,949
	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 (AMT)		No Opt. Call		A–			12,640,557
	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			1,447,866
	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		A+	(4)		5,097,050
		California State, Economic Recovery Revenue Bonds, Refunding Series 2009A:
	2,115	5.000%, 7/01/20 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+	(4)		2,134,098
	3,830	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+	(4)		3,866,921
	2,195	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+	(4)		2,216,160

86

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
$	2,425	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	$	2,726,209
		California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A:
	1,695	5.000%, 12/01/31, 144A		6/26 at 100.00		BB		1,884,891
	2,700	5.000%, 12/01/36, 144A		6/26 at 100.00		BB		2,962,953
		California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A:
	2,530	5.000%, 12/01/33, 144A		6/28 at 100.00		BB		2,861,000
	2,000	5.250%, 12/01/38, 144A		6/28 at 100.00		BB		2,276,080
	915	California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/25		7/24 at 100.00		A–		1,055,087
	575	California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G, 5.500%, 7/01/22		5/19 at 100.00		CC		559,717
		Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Capital Appreciation Series 2011A:
	7,475	0.000%, 11/01/26 (Pre-refunded 11/01/21)		11/21 at 66.91		AA– (4)		4,817,264
	4,095	0.000%, 11/01/28 (Pre-refunded 11/01/21)		11/21 at 56.33		AA– (4)		2,221,660
		Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012:
	2,725	5.000%, 1/01/22		No Opt. Call		BBB		2,859,615
	2,860	5.000%, 1/01/23		No Opt. Call		BBB		3,045,614
	1,635	5.000%, 1/01/24		1/23 at 100.00		BBB		1,742,583
	1,325	5.000%, 1/01/25		1/23 at 100.00		BBB		1,413,046
	5,600	Freddie Mac Multifamily ML Certificates, 3.400%, 1/25/36		No Opt. Call		AA+		5,804,568
	33,905	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 3.500%, 6/01/36		6/22 at 100.00		BBB		34,005,359
	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		1,089,179
		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		1,094,520
	1,015	5.000%, 9/01/32		9/24 at 100.00		N/R		1,103,031
	465	5.000%, 9/01/34		9/24 at 100.00		N/R		503,646
	5,030	Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 90-2, Series 2007A, 4.500%, 10/01/24 – AGM Insured		5/19 at 100.00		AA		5,041,217
	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		1,673,619
	16,625	Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2018, 4.000%, 6/28/19		No Opt. Call		N/R		16,725,249
		Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018D:
	13,425	5.000%, 5/15/25 (AMT)		No Opt. Call		AA–		15,855,730
	9,085	5.000%, 5/15/27 (AMT)		No Opt. Call		AA–		11,118,768

87

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2014B:
$	1,045	5.000%, 7/01/25		1/24 at 100.00		AA	$	1,215,387
	5,000	5.000%, 7/01/43		1/24 at 100.00		AA		5,572,150
	5,555	Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2008 Series 2016A, 4.000%, 7/01/34		7/25 at 100.00		AAA		6,018,009
	10,000	Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2018, 4.000%, 6/27/19		No Opt. Call		N/R		10,059,100
		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		A+		1,258,470
	1,250	5.000%, 9/01/25		9/24 at 100.00		A+		1,461,225
	1,000	5.000%, 9/01/26		9/24 at 100.00		A+		1,162,800
	400	Menifee Union School District Public Financing Authority, California, Special Tax Revenue Bonds, Series 2016A, 5.000%, 9/01/29 – BAM Insured		9/25 at 100.00		AA		469,148
	5,095	Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/28 (6)		2/28 at 100.00		Aa1		5,275,923
	12,580	M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A, 6.125%, 11/01/29		No Opt. Call		A		15,738,712
	10,290	M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.125%, 11/01/29		No Opt. Call		A		12,878,758
	545	Northern Inyo County Local Hospital District, Inyo County, California, Revenue Bonds, Series 2010, 6.000%, 12/01/21		12/20 at 100.00		BB–		563,089
	8,000	Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40 (6)		8/30 at 100.00		A2		9,951,600
		Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A:
	1,815	0.000%, 8/01/21 – AGC Insured		No Opt. Call		AA		1,735,594
	2,095	0.000%, 8/01/22 – AGC Insured		No Opt. Call		AA		1,959,977
	4,085	0.000%, 8/01/23 – AGC Insured		No Opt. Call		AA		3,725,683
	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		7,772,450
	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–		3,292,711
	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		2,532,380
		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		1,241,294
	2,000	0.000%, 10/01/36		No Opt. Call		A		1,077,900
	5,000	Sacramento County, California, Airport System Revenue Bonds, Senior Lien Series 2010, 5.000%, 7/01/40		7/20 at 100.00		A+		5,196,750

88

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		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		A–	$	5,693,500
	26,000	5.000%, 1/15/34		1/25 at 100.00		A–		29,039,140
	2,350	San Jose Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Refunding Subordinate Series 2017B, 5.000%, 8/01/19		No Opt. Call		AA–		2,378,364
		Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A:
	2,255	6.250%, 7/01/24 – NPFG Insured (ETM)		No Opt. Call		Baa2 (4)		2,603,195
	3,690	6.250%, 7/01/24		No Opt. Call		Baa2		4,212,910
		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+		2,576,490
	2,630	5.000%, 2/01/29		2/20 at 100.00		A+		2,699,669
	2,765	5.000%, 2/01/30		2/20 at 100.00		A+		2,837,305
		South Bayside Waste Management Authority, Solida Waste Enterprise Revenue Bonds, Shoreway Environmental Center, Series 2009A:
	2,500	5.250%, 9/01/24		9/19 at 100.00		A+		2,537,225
	1,200	6.250%, 9/01/29		9/19 at 100.00		A+		1,223,052
		Tulare Local Health Care District, Tulare County, California, General Obligation Bonds, Series 2009B-1:
	1,180	6.000%, 8/01/22		8/19 at 100.00		Ba3		1,194,821
	1,410	6.125%, 8/01/23		8/19 at 100.00		Ba3		1,428,358
	1,585	6.250%, 8/01/24		8/19 at 100.00		Ba3		1,606,080
	1,265	6.375%, 8/01/25		8/19 at 100.00		Ba3		1,282,166
	500	6.500%, 8/01/26		8/19 at 100.00		Ba3		506,850
		University of California, General Revenue Bonds, Limited Project Series 2018O:
	4,595	5.000%, 5/15/32		5/28 at 100.00		AA–		5,692,010
	3,635	5.000%, 5/15/33		5/28 at 100.00		AA–		4,473,558
	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		1,861,774
	3,000	Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured (6)		8/26 at 100.00		AA		3,498,720
		Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A:
	1,540	5.000%, 7/01/24		No Opt. Call		Baa1		1,749,394
	1,415	5.000%, 7/01/25		No Opt. Call		Baa1		1,633,264
	1,450	3.250%, 7/01/27		7/25 at 100.00		Baa1		1,491,644
	1,435	3.500%, 7/01/28		7/25 at 100.00		Baa1		1,487,177
	1,355	3.750%, 7/01/29		7/25 at 100.00		Baa1		1,414,159
	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–		3,170,775
	385,525	Total California						405,427,261

89

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado – 2.7%
		Arapahoe County School District 6, Littleton, Colorado, General Obligation Bonds, Series 2019A:
$	1,860	5.500%, 12/01/29		12/28 at 100.00		Aa1	$	2,427,839
	1,250	5.500%, 12/01/30		12/28 at 100.00		Aa1		1,620,000
	1,650	5.500%, 12/01/32		12/28 at 100.00		Aa1		2,119,441
	1,250	5.500%, 12/01/33		12/28 at 100.00		Aa1		1,599,663
	9,355	Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 5.000%, 12/01/29, 144A		12/22 at 103.00		N/R		10,033,144
	10,000	Colorado Bridge Enterprise, Revenue Bonds, Central 70 Project, Senior Series 2017, 4.000%, 6/30/51 (AMT)		12/27 at 100.00		A–		10,273,800
		Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016:
	1,910	5.000%, 10/01/25		No Opt. Call		Baa2		2,180,781
	1,705	3.125%, 10/01/31		10/25 at 100.00		Baa2		1,631,412
	1,000	Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc, Series 2003B, 6.000%, 5/15/26 – AGM Insured (Pre-refunded 5/15/19)		5/19 at 100.00		AA (4)		1,005,340
	18,200	Colorado Health Facilities Authority, Colorado, Hospital Revenue Bonds, Parkview Medical Center, Series 2016, 3.125%, 9/01/42		9/26 at 100.00		A3		17,178,252
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A:
	16,830	5.000%, 9/01/26		5/19 at 100.00		BBB+		17,016,813
	95	4.500%, 9/01/38		5/19 at 100.00		BBB+		95,142
	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+		4,432,187
	350	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		385,774
	605	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A, 5.250%, 11/15/20 (ETM)		No Opt. Call		N/R (4)		625,873
	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)		9,793,400
	2,500	Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2019E, 3.600%, 11/01/39 (WI/DD, Settling 4/18/19)		5/28 at 100.00		AAA		2,549,975
	1,500	Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010, 5.500%, 9/01/25		3/20 at 100.00		BB+		1,537,080
	11,000	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32		11/22 at 100.00		AA–		12,095,380
		Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A:
	15,000	5.000%, 12/01/24 (AMT)		No Opt. Call		A+		17,405,250
	25,610	5.000%, 12/01/27 (AMT)		No Opt. Call		A+		31,238,822
	10,670	Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc Project, Refunding Series 2017, 5.000%, 10/01/32 (AMT)		10/23 at 100.00		BB		11,452,004
		Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopment Area, Series 2018A:
	1,950	5.250%, 12/01/39, 144A		12/23 at 103.00		N/R		1,996,800
	820	5.250%, 12/01/39, 144A		12/23 at 103.00		N/R		834,424

90

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	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	$	3,995,100
		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		1,613,847
	2,215	5.000%, 12/15/21		No Opt. Call		Aa2		2,416,631
	1,530	5.000%, 12/15/22		12/21 at 100.00		Aa2		1,668,847
	3,670	Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A, 5.125%, 12/01/31		12/21 at 103.00		N/R		3,658,146
		Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013:
	1,335	5.000%, 12/01/19, 144A		No Opt. Call		N/R		1,357,054
	500	5.000%, 12/01/20, 144A		No Opt. Call		N/R		519,730
	1,000	Pueblo County School District 60, Pueblo, Colorado, General Obligation Bonds, Refunding Series 2009, 5.000%, 12/15/22		No Opt. Call		Aa2		1,119,520
	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+		1,002,105
		Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2010A:
	2,190	4.250%, 12/01/23		12/20 at 100.00		A		2,273,570
	2,030	4.000%, 12/01/24		12/20 at 100.00		A		2,098,858
	1,000	Spring Mesa Metropolitan District, Jefferson County, Colorado, General Obligation Bonds, Refunding Series 2015, 3.750%, 12/01/44 – AGC Insured		12/25 at 100.00		AA		1,004,390
	177,125	Total Colorado						184,256,394
		Connecticut – 1.1%
	4,355	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2017R, 3.250%, 7/01/35		7/27 at 100.00		A–		4,310,579
	5,085	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2017B, 5.000%, 7/01/29 (Mandatory Put 7/01/20)		No Opt. Call		AAA		5,296,892
	22,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U1, 2.000%, 7/01/33 (Mandatory Put 2/08/22)		No Opt. Call		AAA		22,225,060
	15,370	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2010A-4, 2.000%, 7/01/49 (Mandatory Put 2/08/22)		No Opt. Call		AAA		15,544,142
	1,040	Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018D-1, 4.000%, 11/15/38		11/27 at 100.00		AAA		1,091,345
	775	Connecticut State, General Obligation Bonds, Refunding Series 2012C, 5.000%, 6/01/22		No Opt. Call		A1		849,237
		Connecticut State, General Obligation Bonds, Refunding Series 2018C:
	11,025	3.000%, 6/15/19		No Opt. Call		A1		11,055,208
	1,360	5.000%, 6/15/22		No Opt. Call		A1		1,491,798
	925	Connecticut State, General Obligation Bonds, Refunding Series 2018F, 5.000%, 9/15/20		No Opt. Call		A1		969,021
	2,570	Connecticut State, General Obligation Bonds, Series 2013E, 5.000%, 8/15/22		No Opt. Call		A1		2,831,318

91

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Connecticut (continued)
$	1,345	Connecticut State, General Obligation Bonds, Series 2019A, 5.000%, 4/15/23 (WI/DD, Settling 4/11/19)		No Opt. Call		A	$	1,502,526
		Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Refunding Series 20168C:
	720	5.000%, 10/01/20		No Opt. Call		A+		755,417
	1,785	5.000%, 10/01/22		No Opt. Call		A+		1,976,870
	1,790	5.000%, 10/01/23		No Opt. Call		A+		2,032,724
	750	Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (AMT)		5/19 at 100.00		A–		761,257
		Stratford, Connecticut, General Obligation Bonds, Series 2014:
	400	5.000%, 12/15/24		12/22 at 100.00		AA–		444,608
	495	5.000%, 12/15/26		12/22 at 100.00		AA–		549,450
	71,790	Total Connecticut						73,687,452
		Delaware – 0.1%
	1,000	Delaware Health Facilities Authority, Revenue Bonds, Bayhealth Medical Center Project, Series 2017A, 4.000%, 7/01/35		7/27 at 100.00		AA		1,076,220
		Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013:
	1,100	4.000%, 7/01/22		No Opt. Call		BBB+		1,150,468
	3,995	5.000%, 7/01/28		7/23 at 100.00		BBB+		4,371,329
	6,095	Total Delaware						6,598,017
		District of Columbia – 1.0%
	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+		4,010,562
	5,775	District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33		No Opt. Call		A–		6,402,569
	159,565	District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46		5/19 at 18.84		N/R		25,086,809
		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)		430,236
	1,715	6.500%, 10/01/23 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		1,756,795
	825	6.500%, 10/01/24 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		845,105
		Metropolitan Washington DC Airports Authority, Airport System Revenue Bonds, Refunding Series 2018A:
	5,465	5.000%, 10/01/26 (AMT)		No Opt. Call		AA–		6,567,782
	9,020	5.000%, 10/01/27 (AMT)		No Opt. Call		AA–		10,983,203
	4,150	5.000%, 10/01/28 (AMT)		No Opt. Call		AA–		5,112,510
	4,150	5.000%, 10/01/29 (AMT)		10/28 at 100.00		AA–		5,076,363
		Washington Metropolitan Area Transit Authority, District of Columbia, Gross Revenue Bonds, Series 2018:
	1,250	5.000%, 7/01/25		No Opt. Call		AA–		1,490,875
	1,000	5.000%, 7/01/26		No Opt. Call		AA–		1,217,030
	1,300	5.000%, 7/01/27		No Opt. Call		AA–		1,610,037
	198,515	Total District of Columbia						70,589,876

92

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida – 4.3%
$	12,835	Broward County School Board, Florida, Certificates of Participation, Series 2015A, 5.000%, 7/01/25		No Opt. Call		Aa3	$	15,233,092
		Broward County, Florida, Airport System Revenue Bonds, Series 2015A:
	10,000	5.000%, 10/01/34 (AMT)		10/25 at 100.00		A+		11,360,200
	15,135	5.000%, 10/01/35 (AMT)		10/25 at 100.00		A+		17,145,382
		Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017:
	960	2.250%, 9/01/23 – AGM Insured		No Opt. Call		AA		960,758
	1,450	2.500%, 9/01/24 – AGM Insured		No Opt. Call		AA		1,465,573
	1,385	2.750%, 9/01/25 – AGM Insured		No Opt. Call		AA		1,418,669
	965	2.750%, 9/01/26 – AGM Insured		No Opt. Call		AA		988,218
	725	3.000%, 9/01/27 – AGM Insured		No Opt. Call		AA		753,717
		Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2015:
	9,685	5.000%, 10/01/32		10/25 at 100.00		A+		11,282,928
	7,325	5.000%, 10/01/33		10/25 at 100.00		A+		8,510,844
		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		17,835,918
	14,640	5.000%, 6/01/25		12/24 at 100.00		AA		17,115,771
	275	Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1, 5.000%, 6/01/19		No Opt. Call		AA		276,502
		Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1:
	370	5.000%, 6/01/19		No Opt. Call		AA		372,020
	4,545	5.000%, 6/01/20		No Opt. Call		AA		4,720,255
	1,600	5.000%, 6/01/21		No Opt. Call		AA		1,714,336
		Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013:
	2,200	4.750%, 11/01/23		No Opt. Call		BBB–		2,290,112
	1,860	6.000%, 11/01/33		11/23 at 100.00		BBB–		2,037,035
	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 (AMT)		5/19 at 100.00		Aaa		1,906,538
	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–		1,128,130
	370	Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A, 5.000%, 6/15/27, 144A		6/26 at 100.00		N/R		377,826
	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–		3,426,272
	2,710	Florida Governmental Utility Authority, Utility Revenue Bonds, Pasco Aqua Utility System, Series 2013A, 4.250%, 10/01/33		10/22 at 100.00		A3		2,842,546
		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–		1,417,475
	1,750	5.000%, 4/01/33		4/26 at 100.00		A–		1,979,023
	5,965	5.000%, 4/01/34		4/26 at 100.00		A–		6,726,074
	4,290	5.000%, 4/01/35		4/26 at 100.00		A–		4,813,637

93

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	4,785	Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2017-1, 3.600%, 7/01/37		1/27 at 100.00		Aaa	$	4,881,896
	6,000	Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2018-2, 4.050%, 7/01/38		1/28 at 100.00		Aaa		6,329,280
	1,140	Florida Municipal Power Agency, Power Supply Revenue Bonds, All Requirements Project, Refunding Series 2016A, 5.000%, 10/01/30		10/26 at 100.00		A+		1,359,974
	1,500	Florida State Department of Children and Families, Certificates of Participation, South Florida Evaluation Treatment Project, Series 2005, 5.000%, 10/01/25		5/19 at 100.00		AA+		1,504,005
	2,240	Jacksonville, Florida, Capital Improvement Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/20		No Opt. Call		AA		2,350,858
	1,940	Jacksonville, Florida, Special Revenue Bonds, Series 20120C, 5.000%, 10/01/24		10/22 at 100.00		AA		2,154,118
	5,050	JEA, Florida, Electric System Revenue Bonds, Subordinated Series Three 2017B, 5.000%, 10/01/27		No Opt. Call		AA		6,066,666
	7,005	Lee County, Florida, Airport Revenue Bonds, Refunding Series 2011A, 5.375%, 10/01/32 – AGM Insured (AMT)		8/21 at 100.00		AA		7,503,826
	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–		6,727,500
	5,760	Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2018A, 5.000%, 4/01/53		4/28 at 100.00		A–		6,557,184
		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2014B:
	2,455	5.000%, 7/01/24		No Opt. Call		A+		2,845,492
	1,265	5.000%, 7/01/27		7/24 at 100.00		A+		1,451,853
		Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A:
	925	5.000%, 10/01/20 (AMT)		No Opt. Call		A		968,531
	5,175	5.000%, 10/01/22 (AMT)		No Opt. Call		A		5,718,323
		Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B:
	3,000	5.000%, 10/01/24		10/20 at 100.00		A		3,153,720
	6,305	5.000%, 10/01/41		10/20 at 100.00		A		6,578,259
		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		2,043,967
	5,015	5.250%, 4/01/30		4/20 at 100.00		AA		5,193,835
	26,045	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2017B, 3.125%, 10/01/39		10/27 at 100.00		AA–		25,681,151
	5,000	Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/29 – AGM Insured (Pre-refunded 10/01/20)		10/20 at 100.00		AA (4)		5,257,350
		Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A:
	4,000	5.000%, 11/01/32 – AGM Insured		11/27 at 100.00		AA		4,707,240
	2,000	5.000%, 11/01/34 – AGM Insured		11/27 at 100.00		AA		2,331,520
	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		A–		2,803,558

94

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	4,235	Palm Beach County School Board, Florida, Certificates of Participation, Series 2014B, 5.000%, 8/01/22		No Opt. Call		Aa3	$	4,695,683
		Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011:
	175	5.000%, 10/01/25 (Pre-refunded 10/01/21)		10/21 at 100.00		N/R (4)		189,599
	9,825	5.000%, 10/01/25		10/21 at 100.00		AA+		10,623,871
	3,860	South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2016, 2.750%, 5/01/31		5/26 at 100.00		AA		3,803,837
	4,830	South Florida Water Management District, Certificates of Participation, Series 2015, 5.000%, 10/01/33		4/26 at 100.00		AA		5,606,471
		Tampa, Florida, Cigarette Tax Allocation Bonds, H Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A:
	615	5.000%, 9/01/22		No Opt. Call		A+		679,821
	2,600	5.000%, 9/01/23		9/22 at 100.00		A+		2,874,040
	1,270	3.125%, 9/01/24		9/22 at 100.00		A+		1,319,136
	1,290	5.000%, 9/01/25		9/22 at 100.00		A+		1,420,561
	1,500	5.000%, 9/01/27		9/22 at 100.00		A+		1,648,170
	1,980	5.000%, 9/01/28		9/22 at 100.00		A+		2,175,584
	6,135	4.000%, 9/01/33		9/22 at 100.00		A+		6,403,774
	270,320	Total Florida						295,709,504
		Georgia – 1.5%
	5,010	Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2010C, 5.875%, 1/01/24		1/21 at 100.00		Aa3		5,398,375
		Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2012B:
	2,095	5.000%, 1/01/23		1/22 at 100.00		AA–		2,298,236
	1,500	5.000%, 1/01/28		1/22 at 100.00		AA–		1,635,315
		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–		12,732,161
	4,280	5.000%, 1/01/29		1/24 at 100.00		AA–		4,893,196
	6,750	5.000%, 1/01/30		1/24 at 100.00		AA–		7,700,603
	14,810	Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2018C, 4.000%, 11/01/37		11/27 at 100.00		Aa2		15,940,595
	2,215	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–		2,179,582
		Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement Revenue Bonds, Memorial Health University Medical Center, Inc, Series 2012A:
	3,340	5.000%, 1/01/23 (Pre-refunded 1/01/22)		1/22 at 100.00		N/R (4)		3,645,844
	5,560	5.000%, 1/01/24 (Pre-refunded 1/01/22)		1/22 at 100.00		N/R (4)		6,069,129
	8,990	5.000%, 1/01/25 (Pre-refunded 1/01/22)		1/22 at 100.00		N/R (4)		9,813,214
	1,250	DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc Project, Series 2010, 6.000%, 9/01/30 (Pre-refunded 9/01/20)		9/20 at 100.00		N/R (4)		1,325,475
		Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2018A:
	2,455	3.600%, 12/01/33		6/27 at 100.00		AAA		2,562,504
	6,510	3.850%, 12/01/38		6/27 at 100.00		AAA		6,737,134

95

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Georgia (continued)
		Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2018B:
$	2,660	3.800%, 12/01/33		12/27 at 100.00		AAA	$	2,806,433
	3,710	4.050%, 12/01/38		12/27 at 100.00		AAA		3,913,085
	6,350	Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Sub Series 2015A-1, 3.700%, 12/01/35		12/24 at 100.00		AAA		6,529,197
	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–		3,005,043
	955	Rockdale County Development Authority, Georgia, Revenue Bonds, Pratt Paper, LLC Project, Refunding Series 2018, 4.000%, 1/01/38 (AMT), 144A		1/28 at 100.00		N/R		969,058
	92,295	Total Georgia						100,154,179
		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–		4,398,929
		Hawaii – 0.9%
	5,005	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010A, 5.250%, 7/01/30 (Pre-refunded 7/01/20)		7/20 at 100.00		AA– (4)		5,235,280
	1,025	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010B, 5.625%, 7/01/30 (Pre-refunded 7/01/20)		7/20 at 100.00		AA– (4)		1,076,896
	10,785	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc and Subsidiary Projects, Series 2017A, 3.100%, 5/01/26 (AMT)		No Opt. Call		A–		10,949,687
		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–		6,463,655
	4,510	5.000%, 7/01/27		7/25 at 100.00		AA–		5,279,992
	7,825	5.000%, 7/01/28		7/25 at 100.00		AA–		9,126,063
	9,180	5.000%, 7/01/29		7/25 at 100.00		AA–		10,677,166
	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 (AMT)		No Opt. Call		A–		15,849,383
	59,280	Total Hawaii						64,658,122
		Idaho – 0.3%
	560	Boise City, Idaho, Airport Revenue Bonds, Aircraft Maintenance Facilities Project, Subordinate Series 2015, 3.750%, 9/01/32 (AMT)		9/25 at 100.00		A2		582,277
	3,100	Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series 2014A, 4.125%, 3/01/37		3/24 at 100.00		A–		3,181,561
	1,000	Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, Victory Charter School, Inc Project, Refunding Series 2016A, 5.000%, 7/01/39		7/26 at 100.00		BBB–		1,062,940
		Madison County School District 321, Idaho, General Obligation Bonds, Sales Tax and Credit Enhancement Guaranty, Refunding Series 2014B:
	2,595	5.000%, 8/15/21		No Opt. Call		Aaa		2,802,470
	2,710	5.000%, 8/15/22		No Opt. Call		Aaa		3,014,685

96

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Idaho (continued)
$	12,005	Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, Refunding Series 2016, 2.750%, 10/01/24		No Opt. Call		BBB–	$	12,232,615
	21,970	Total Idaho						22,876,548
		Illinois – 12.9%
	2,215	Bartlett, Illinois, Tax Increment Revenue Bonds, Barlett Quarry Redev Project, Senior Lien Series 2016, 4.000%, 1/01/24		1/22 at 100.00		N/R		2,181,952
		Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A:
	2,800	0.000%, 1/01/30		7/23 at 72.73		A2		1,757,000
	2,550	0.000%, 1/01/31		7/23 at 68.95		A2		1,515,057
	2,750	0.000%, 1/01/32		7/23 at 65.29		A2		1,545,198
	4,000	0.000%, 1/01/33		7/23 at 61.69		A2		2,121,120
		Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016:
	432	2.150%, 3/01/23 – BAM Insured		No Opt. Call		AA		430,030
	447	2.350%, 3/01/24 – BAM Insured		No Opt. Call		AA		445,328
	964	2.700%, 3/01/26 – BAM Insured		3/25 at 100.00		AA		964,386
	1,052	2.900%, 3/01/28 – BAM Insured		3/25 at 100.00		AA		1,043,531
	973	3.050%, 3/01/30 – BAM Insured		3/25 at 100.00		AA		977,583
		Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016:
	585	2.150%, 3/01/23 – BAM Insured		No Opt. Call		AA		582,332
	610	2.350%, 3/01/24 – BAM Insured		No Opt. Call		AA		607,719
	968	2.700%, 3/01/26 – BAM Insured		3/25 at 100.00		AA		968,387
	1,423	2.900%, 3/01/28 – BAM Insured		3/25 at 100.00		AA		1,419,272
	1,448	3.050%, 3/01/30 – BAM Insured		3/25 at 100.00		AA		1,451,692
	29,585	Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46		4/27 at 100.00		A		34,325,109
		Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017:
	1,860	5.000%, 4/01/33		4/27 at 100.00		A		2,046,335
	1,000	5.000%, 4/01/42		4/27 at 100.00		A		1,084,960
	1,150	Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2018, 5.000%, 4/01/37		4/28 at 100.00		A		1,264,448
	10,900	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 7.000%, 12/01/42, 144A		12/27 at 100.00		B+		13,246,661
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C:
	3,125	5.000%, 12/01/27		No Opt. Call		BB–		3,411,875
	12,385	5.000%, 12/01/30		12/27 at 100.00		BB–		13,521,943
	5,270	5.000%, 12/01/34		12/27 at 100.00		BB–		5,670,573
	2,600	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017D, 5.000%, 12/01/31		12/27 at 100.00		BB–		2,825,628
	3,655	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H, 5.000%, 12/01/36		12/27 at 100.00		BB–		3,905,770
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018A:
	9,745	4.000%, 12/01/21		No Opt. Call		BB–		9,982,486
	5,795	4.000%, 12/01/22		No Opt. Call		BB–		5,946,192

97

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018C:
$	1,200	5.000%, 12/01/22		No Opt. Call		BB–	$	1,272,444
	2,885	5.000%, 12/01/23		No Opt. Call		BB–		3,084,555
	2,300	5.000%, 12/01/24		No Opt. Call		BB–		2,472,224
	19,585	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A		12/27 at 100.00		B+		23,710,972
		Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011:
	3,530	5.250%, 12/01/25		12/21 at 100.00		AA		3,800,221
	3,235	5.250%, 12/01/26		12/21 at 100.00		AA		3,469,667
		Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2015A:
	5,700	5.000%, 1/01/33 (AMT)		1/25 at 100.00		A		6,384,855
	4,225	5.000%, 1/01/34 (AMT)		1/25 at 100.00		A		4,720,719
		Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2018B:
	2,500	5.000%, 1/01/36		1/29 at 100.00		A		2,967,325
	3,000	5.000%, 1/01/37		1/29 at 100.00		A		3,546,120
	4,000	5.000%, 1/01/38		1/29 at 100.00		A		4,711,760
	17,605	Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38		1/27 at 100.00		BBB+		20,108,959
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	6,825	5.000%, 1/01/23		No Opt. Call		BBB+		7,320,222
	7,600	5.000%, 1/01/24		No Opt. Call		BBB+		8,232,244
	4,440	5.000%, 1/01/25		No Opt. Call		BBB+		4,867,128
	1,940	5.000%, 1/01/26		No Opt. Call		BBB+		2,149,830
	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+		1,640,565
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C:
	2,600	5.000%, 11/15/20		No Opt. Call		AA–		2,723,630
	2,780	5.000%, 11/15/21		No Opt. Call		AA–		2,988,778
	2,400	5.000%, 11/15/22		No Opt. Call		AA–		2,640,432
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A:
	5,250	5.000%, 11/15/20		No Opt. Call		AA–		5,499,637
	2,260	5.000%, 11/15/21		No Opt. Call		AA–		2,429,726
		Effingham and Clay Counties Community Unit School District Number 40, Effingham, Illinois, General Obligation Bonds, School Series 2019A:
	1,000	4.000%, 12/01/30 – BAM Insured		12/27 at 100.00		AA		1,082,150
	1,000	4.000%, 12/01/34 – BAM Insured		12/27 at 100.00		AA		1,054,230
	1,395	4.000%, 12/01/35 – BAM Insured		12/27 at 100.00		AA		1,463,578
	1,455	4.000%, 12/01/36 – BAM Insured		12/27 at 100.00		AA		1,517,420
	500	Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 2.800%, 3/01/25 – BAM Insured		No Opt. Call		AA		504,190
		Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017:
	875	2.400%, 3/01/23 – BAM Insured		No Opt. Call		AA		875,245
	925	2.600%, 3/01/24 – BAM Insured		No Opt. Call		AA		927,498
	1,025	3.000%, 3/01/26 – BAM Insured		No Opt. Call		AA		1,042,159
	1,055	3.150%, 3/01/27 – BAM Insured		3/26 at 100.00		AA		1,070,952

98

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	1,050	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2014, 5.000%, 8/01/23		No Opt. Call		AA	$	1,191,813
	3,000	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012, 5.000%, 6/01/42		6/22 at 100.00		AA		3,199,620
	6,400	Illinois Finance Authority, Revenue Bonds, Ann & Robert H Lurie Children’s Hospital of Chicago, Refunding Series 2017, 4.000%, 8/15/39		8/27 at 100.00		AA		6,728,000
	2,000	Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2016, 5.000%, 3/01/30		3/26 at 100.00		AA–		2,315,300
		Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C:
	2,400	3.625%, 2/15/32		2/27 at 100.00		AA+		2,484,600
	10,000	3.750%, 2/15/34		2/27 at 100.00		AA+		10,357,600
	33,995	4.000%, 2/15/41		2/27 at 100.00		AA+		35,512,877
	13,685	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27		9/22 at 100.00		AA+		15,078,133
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:
	475	5.000%, 9/01/26		9/24 at 100.00		AA+		550,734
	1,205	5.000%, 9/01/27		9/24 at 100.00		AA+		1,392,426
	775	5.000%, 9/01/29		9/24 at 100.00		AA+		890,816
	2,450	5.000%, 9/01/34		9/24 at 100.00		AA+		2,766,540
	2,815	4.625%, 9/01/39		9/24 at 100.00		AA+		3,034,992
	7,015	5.000%, 9/01/42		9/24 at 100.00		AA+		7,778,513
		Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013:
	1,390	5.000%, 5/15/23		5/22 at 100.00		Baa2		1,508,470
	1,120	5.000%, 5/15/25		5/22 at 100.00		Baa2		1,211,694
	1,175	5.000%, 5/15/26		5/22 at 100.00		Baa2		1,267,931
		Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2019:
	2,500	5.000%, 4/01/31		4/29 at 100.00		AA–		3,003,550
	1,300	5.000%, 4/01/32		4/29 at 100.00		AA–		1,551,316
	4,500	5.000%, 4/01/34		4/29 at 100.00		AA–		5,307,660
	7,610	5.000%, 4/01/36		4/29 at 100.00		AA–		8,875,239
	5,165	Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/24		No Opt. Call		A3		5,939,440
		Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A:
	2,370	5.000%, 7/01/33		7/26 at 100.00		A		2,701,279
	3,170	5.000%, 7/01/34		7/26 at 100.00		A		3,598,235
	5,000	5.000%, 7/01/35		7/26 at 100.00		A		5,660,150
	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)		4,292,296
		Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A:
	1,000	5.000%, 11/15/27		11/25 at 100.00		A		1,165,620
	1,885	5.000%, 11/15/28		11/25 at 100.00		A		2,188,391
	2,000	5.000%, 11/15/29		11/25 at 100.00		A		2,306,020
	4,000	Illinois Finance Authority, Revenue Bonds, Roosevelt University Project, RefundingSeries 2009, 5.750%, 4/01/24 (Pre-refunded 10/01/19)		10/19 at 100.00		BB (4)		4,082,880

99

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	2,950	Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007, 5.400%, 4/01/27		No Opt. Call		N/R	$	2,951,445
	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		N/R (4)		1,530,948
		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		2,462,238
	5,000	5.000%, 8/15/44		8/25 at 100.00		Baa1		5,466,350
	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)		5,097,350
		Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc, Refunding Series 2017C:
	1,150	5.000%, 3/01/32		3/27 at 100.00		A+		1,319,809
	2,750	5.000%, 3/01/33		3/27 at 100.00		A+		3,142,150
	1,650	5.000%, 3/01/34		3/27 at 100.00		A+		1,878,014
	1,800	4.000%, 3/01/35		3/27 at 100.00		A+		1,876,104
	2,350	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		2,321,565
		Illinois State Toll Highway Authority, Toll Highway Senior Revenue Bonds, Refunding Series 2018A:
	8,500	5.000%, 1/01/25		No Opt. Call		AA–		9,980,445
	14,270	5.000%, 1/01/26		No Opt. Call		AA–		17,063,781
		Illinois State, General Obligation Bonds, February Series 2014:
	4,000	5.000%, 2/01/23		No Opt. Call		BBB		4,291,720
	3,155	5.000%, 2/01/24		No Opt. Call		BBB		3,420,746
	4,630	5.000%, 2/01/25		2/24 at 100.00		BBB		4,954,887
	4,675	5.000%, 2/01/26		2/24 at 100.00		BBB		4,992,853
	6,000	5.000%, 2/01/27		2/24 at 100.00		BBB		6,390,660
	2,485	Illinois State, General Obligation Bonds, June Series 2016, 3.500%, 6/01/29		6/26 at 100.00		BBB		2,381,897
	12,200	Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/26		No Opt. Call		BBB		13,473,192
		Illinois State, General Obligation Bonds, November Series 2017D:
	13,705	5.000%, 11/01/23		No Opt. Call		BBB		14,871,158
	3,850	5.000%, 11/01/25		No Opt. Call		BBB		4,246,896
	935	3.250%, 11/01/26		No Opt. Call		BBB		908,306
	500	5.000%, 11/01/26		No Opt. Call		BBB		552,180
	5,225	5.000%, 11/01/27		No Opt. Call		BBB		5,799,489
	5,030	5.000%, 11/01/28		11/27 at 100.00		BBB		5,554,176
		Illinois State, General Obligation Bonds, Refunding Series 2012:
	7,750	5.000%, 8/01/20		No Opt. Call		BBB		8,014,120
	6,175	5.000%, 8/01/21		No Opt. Call		BBB		6,520,923
	15,265	5.000%, 8/01/22		No Opt. Call		BBB		16,385,451
	2,795	5.000%, 8/01/23		No Opt. Call		BBB		3,021,786
	285	5.000%, 8/01/25		8/22 at 100.00		BBB		300,558
		Illinois State, General Obligation Bonds, Series 2012A:
	7,840	4.000%, 1/01/20		No Opt. Call		BBB		7,944,429
	12,210	4.000%, 1/01/22		No Opt. Call		BBB		12,644,188

100

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)			Value
		Illinois (continued)
		Illinois State, General Obligation Bonds, Series 2013:
$	4,220	5.500%, 7/01/25		7/23 at 100.00		BBB		$	4,584,566
	2,760	5.500%, 7/01/26		7/23 at 100.00		BBB			2,984,692
	2,085	5.500%, 7/01/27		7/23 at 100.00		BBB			2,249,319
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A:
	1,765	5.000%, 12/01/21		No Opt. Call		AA–			1,919,102
	3,345	5.000%, 12/01/22		No Opt. Call		AA–			3,740,814
	4,110	5.000%, 1/01/33		1/23 at 100.00		AA–			4,515,862
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A:
	6,795	5.000%, 12/01/31		1/26 at 100.00		AA–			7,868,746
	7,895	5.000%, 12/01/32		1/26 at 100.00		AA–			9,116,751
		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–			12,267,530
	6,115	5.000%, 1/01/37		1/24 at 100.00		AA–			6,813,211
	11,570	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014D, 5.000%, 1/01/24		No Opt. Call		AA–			13,307,235
	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–			12,045,884
		Kane County Community Unit School District 304 Geneva, Illinois, General Obligation Bonds, Series 2007A:
	1,955	9.000%, 1/01/22 – AGM Insured (ETM)		No Opt. Call		AA	(4)		2,336,381
	6,615	9.000%, 1/01/22 – AGM Insured		No Opt. Call		Aa2			7,854,651
	285	9.000%, 1/01/23 – AGM Insured (ETM)		No Opt. Call		AA	(4)		359,733
	965	9.000%, 1/01/23 – AGM Insured		No Opt. Call		Aa2			1,210,882
	1,210	9.000%, 1/01/25 – AGM Insured (ETM)		No Opt. Call		AA	(4)		1,679,577
	3,940	9.000%, 1/01/25 – AGM Insured		No Opt. Call		Aa2			5,420,770
		Kendall, Kane, and Will Counties Community Unit School District 308 Oswego, Illinois, General Obligation Bonds, Refunding School Series 2016:
	5,000	5.000%, 2/01/34		2/26 at 100.00		AA			5,683,000
	3,465	5.000%, 2/01/35		2/26 at 100.00		AA			3,928,305
		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			1,734,584
	1,165	5.000%, 12/01/31 – BAM Insured		12/26 at 100.00		AA			1,353,299
	1,645	5.000%, 12/01/32 – BAM Insured		12/26 at 100.00		AA			1,901,192
	1,725	5.000%, 12/01/33 – BAM Insured		12/26 at 100.00		AA			1,991,357
	1,815	5.000%, 12/01/34 – BAM Insured		12/26 at 100.00		AA			2,087,885
	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			2,069,844
		Madison County Community Unit School District 7 Edwardsville, Illinois, General Obligation Bonds, Series 2017A:
	2,430	5.000%, 12/01/28		12/25 at 100.00		AA			2,756,689
	2,500	5.000%, 12/01/29		12/25 at 100.00		AA			2,830,800

101

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	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	$	1,721,715
		McCook, Cook County, Illinois, General Obligation Bonds, Series 2008:
	500	5.000%, 12/01/26		5/19 at 100.00		A–		500,855
	1,000	5.100%, 12/01/28		5/19 at 100.00		A–		1,001,790
		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B:
	4,825	5.000%, 12/15/28		6/22 at 100.00		BBB		5,074,115
	1,700	0.000%, 12/15/51		No Opt. Call		BBB		383,197
		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B:
	1,810	0.000%, 12/15/37		No Opt. Call		BBB		1,074,289
	9,045	0.000%, 12/15/42		6/38 at 100.00		BBB		5,393,172
	6,000	0.000%, 12/15/47		6/38 at 100.00		BBB		3,566,460
	28,425	Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/29 – NPFG Insured		No Opt. Call		BBB		19,377,607
		Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018:
	479	3.100%, 3/01/26 – BAM Insured		No Opt. Call		AA		489,107
	480	3.200%, 3/01/27 – BAM Insured		No Opt. Call		AA		491,246
	384	3.300%, 3/01/28 – BAM Insured		3/27 at 100.00		AA		393,596
	671	3.450%, 3/01/30 – BAM Insured		3/27 at 100.00		AA		683,467
	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		1,945,549
	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		1,646,971
		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		323,656
	350	5.000%, 10/01/24		10/22 at 100.00		Baa1		385,515
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:
	7,785	5.250%, 6/01/21		No Opt. Call		A		8,342,873
	12,395	5.500%, 6/01/23 (Pre-refunded 6/01/21)		6/21 at 100.00		N/R (4)		13,424,281
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017:
	3,900	5.000%, 6/01/25		No Opt. Call		A		4,543,734
	5,000	5.000%, 6/01/26		No Opt. Call		A		5,924,050
	3,000	5.000%, 6/01/27		6/26 at 100.00		A		3,538,260
		Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017:
	1,283	3.700%, 3/01/29 – BAM Insured		3/27 at 100.00		AA		1,339,644
	1,073	3.800%, 3/01/30 – BAM Insured		3/27 at 100.00		AA		1,120,555
	1,897	4.000%, 3/01/33 – BAM Insured		3/27 at 100.00		AA		1,986,785

102

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		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)	$	649,312
	360	4.500%, 10/01/20		10/19 at 100.00		AA–		365,476
	730	5.000%, 10/01/22 (Pre-refunded 10/01/19)		10/19 at 100.00		N/R (4)		742,425
	370	5.000%, 10/01/22		10/19 at 100.00		AA–		376,279
		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)		3,173,110
	2,415	7.625%, 11/01/48 (Pre-refunded 11/01/23)		11/23 at 100.00		N/R (4)		3,040,509
	2,645	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		2,738,739
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	7,805	5.000%, 3/01/33		3/25 at 100.00		A		8,773,210
	13,960	5.000%, 3/01/34 – AGM Insured		3/25 at 100.00		AA		15,701,231
	10,990	5.000%, 3/01/40 – AGM Insured		3/25 at 100.00		AA		12,157,687
		Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2012:
	3,205	4.000%, 11/01/21		No Opt. Call		A+		3,379,961
	2,830	4.000%, 11/01/22		No Opt. Call		A+		3,037,241
		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		10,566,371
	3,355	5.000%, 1/01/23		No Opt. Call		Aa2		3,729,519
	3,295	5.000%, 1/01/24		No Opt. Call		Aa2		3,738,177
	4,215	5.000%, 1/01/25		No Opt. Call		Aa2		4,884,173
	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		3,728,759
	5,000	Will County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2016, 5.000%, 11/15/41		11/25 at 100.00		AA+		5,619,150
	4,890	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		A–		5,116,896
		Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013:
	4,070	0.000%, 2/01/25		No Opt. Call		A+		3,466,622
	3,855	0.000%, 2/01/26		No Opt. Call		A+		3,167,075
	831,188	Total Illinois						884,661,023
		Indiana – 3.2%
		Carmel Redevelopment Authority, Indiana, County Option Income Tax Lease Rental Revenue Bonds, Refunding Series 2014B:
	435	5.000%, 1/01/20		No Opt. Call		AA		446,227
	1,035	5.000%, 7/01/20		No Opt. Call		AA		1,079,443
	500	5.000%, 1/01/21		No Opt. Call		AA		529,790
	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+		3,842,160

103

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
		Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A:
$	1,130	3.500%, 10/01/26		10/23 at 100.00		A	$	1,169,042
	500	5.000%, 10/01/29		10/23 at 100.00		A		551,240
	4,000	Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series 2015A, 5.250%, 2/01/37		8/25 at 100.00		AA+		4,703,720
	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		5,779,544
		Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A:
	715	5.000%, 10/01/22		No Opt. Call		AA		793,657
	620	5.000%, 10/01/23		No Opt. Call		AA		704,934
	625	5.000%, 10/01/24		No Opt. Call		AA		727,013
	1,320	5.000%, 10/01/25		10/24 at 100.00		AA		1,541,470
	1,710	5.000%, 10/01/26		10/24 at 100.00		AA		1,993,005
	10,000	5.000%, 10/01/40		10/24 at 100.00		AA		11,276,700
	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		AA–		8,272,400
	1,065	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		1,058,983
		Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2013A:
	2,750	5.250%, 1/01/33 (Pre-refunded 7/01/23)		7/23 at 100.00		A+ (4)		3,165,387
	2,505	5.250%, 1/01/34 (Pre-refunded 7/01/23)		7/23 at 100.00		A+ (4)		2,883,380
	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		3,039,568
	5,000	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007B, 5.250%, 7/01/23 – NPFG Insured		No Opt. Call		AA		5,712,250
		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		8,979,851
	10,000	5.250%, 8/15/29		8/23 at 100.00		AA		11,326,100
		Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2017A:
	12,240	5.000%, 8/15/26		No Opt. Call		AA		14,902,445
	6,620	5.000%, 8/15/27		No Opt. Call		AA		8,204,894
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A:
	500	5.000%, 10/01/27		10/24 at 100.00		A		574,065
	720	5.000%, 10/01/28		10/24 at 100.00		A		825,804
	1,000	5.000%, 10/01/29		10/24 at 100.00		A		1,143,550
	1,360	5.000%, 10/01/31		10/24 at 100.00		A		1,544,402
	1,215	5.000%, 10/01/33		10/24 at 100.00		A		1,377,251
	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		BBB+		2,985,000

104

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
		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		Ba1	$	1,744,730
	940	5.000%, 4/01/22		No Opt. Call		Ba1		997,566
	2,015	5.000%, 4/01/24		4/22 at 100.00		Ba1		2,132,998
		Lake County Building Corporation, Indiana, First Mortgage Bonds, Series 2012:
	500	4.500%, 8/01/19		No Opt. Call		N/R		504,445
	500	4.750%, 2/01/20		No Opt. Call		N/R		512,220
	500	4.750%, 8/01/20		No Opt. Call		N/R		509,275
	250	4.750%, 2/01/21		No Opt. Call		N/R		255,840
	500	4.750%, 8/01/21		No Opt. Call		N/R		514,995
	500	5.000%, 2/01/22		No Opt. Call		N/R		521,255
	500	5.000%, 8/01/22		2/22 at 100.00		N/R		520,975
	500	5.000%, 8/01/23		2/22 at 100.00		N/R		519,645
	500	5.000%, 2/01/24		2/22 at 100.00		N/R		516,505
	33,040	Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2018B, 5.000%, 1/01/36		1/27 at 100.00		A–		37,222,534
	640	Southwind Housing Inc, Evansville, Indiana, First Mortgage Revenue Bonds, Series 1978A, 7.125%, 11/15/21 (ETM)		6/19 at 100.00		N/R (4)		695,552
		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		1,195,106
	1,000	5.000%, 2/01/26		8/24 at 100.00		A		1,152,960
	1,805	5.000%, 2/01/27		8/24 at 100.00		A		2,068,295
	1,750	5.000%, 2/01/29		8/24 at 100.00		A		1,994,195
	2,700	5.000%, 2/01/31		8/24 at 100.00		A		3,055,806
	25,005	Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc Project, Series 2015, 5.000%, 11/01/45 (Mandatory Put 11/01/22) (AMT)		No Opt. Call		A–		27,504,750
	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) (AMT)		No Opt. Call		A1		22,810,012
	194,535	Total Indiana						218,082,934
		Iowa – 1.3%
		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)		1,058,807
	2,000	5.250%, 6/15/26 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,086,320
	3,135	5.250%, 6/15/27 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		3,270,307
	2,000	5.375%, 6/15/28 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,089,300
	2,035	5.500%, 6/15/29 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		2,128,874
	1,000	5.500%, 6/15/30 (Pre-refunded 6/15/20)		6/20 at 100.00		A2 (4)		1,046,130
		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 – AGM Insured (Pre-refunded 1/01/21)		1/21 at 100.00		AA (4)		1,939,672
	1,890	5.000%, 1/01/24 – AGM Insured (Pre-refunded 1/01/21)		1/21 at 100.00		AA (4)		2,003,268
	1,520	5.000%, 1/01/25 – AGM Insured (Pre-refunded 1/01/21)		1/21 at 100.00		AA (4)		1,611,094
	1,000	5.000%, 1/01/26 – AGM Insured (Pre-refunded 1/01/21)		1/21 at 100.00		AA (4)		1,059,930

105

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Iowa (continued)
$	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–	$	10,845,700
		Iowa Finance Authority, Healthcare Revenue Bonds, Genesis Health System, Series 2013:
	8,655	5.000%, 7/01/27		7/23 at 100.00		A1		9,712,901
	6,820	5.000%, 7/01/28		7/23 at 100.00		A1		7,647,675
	5,025	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2019, 3.125%, 12/01/22 (WI/DD, Settling 4/03/19)		12/20 at 103.00		B+		5,058,064
	1,925	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25		12/23 at 100.00		B+		2,076,440
	4,770	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26, 144A		5/19 at 105.00		B+		5,013,031
	6,445	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018A, 5.250%, 12/01/50		12/22 at 103.00		B+		6,803,729
	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)		1,318,587
	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)		2,070,980
		Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
	13,155	5.375%, 6/01/38		5/19 at 100.00		B+		13,156,184
	2,350	5.500%, 6/01/42		5/19 at 100.00		B+		2,350,188
	30	5.625%, 6/01/46		5/19 at 100.00		B		30,002
	1,940	Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34		5/19 at 100.00		BB–		1,948,905
	81,790	Total Iowa						86,326,088
		Kansas – 0.7%
	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		14,818,843
	11,000	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		11,122,980
	355	Johnson County Unified School District 512, Shawnee Mission, Kansas, General Obligation Bonds, Refunding Series 1996, 4.875%, 10/01/19		No Opt. Call		Aaa		360,932
		Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C:
	50	5.500%, 11/15/23 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		51,165
	2,150	5.500%, 11/15/23		11/19 at 100.00		AA		2,200,761
	1,850	Kansas Development Finance Authority, Revenue Bonds, Kansas State Projects, Series 2007K, 4.500%, 11/01/19 – NPFG Insured		5/19 at 100.00		Aa3		1,854,422
	10,170	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)		11,045,230

106

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kansas (continued)
		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+	$	2,064,255
	660	5.000%, 9/01/22		No Opt. Call		A+		730,264
	1,505	5.000%, 9/01/23		No Opt. Call		A+		1,704,969
	44,310	Total Kansas						45,953,821
		Kentucky – 1.4%
	3,200	Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/37		6/27 at 100.00		Baa3		3,495,904
	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		Baa3		1,841,975
	10	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+		10,117
	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		7,420,280
		Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A:
	1,320	5.000%, 7/01/26 (AMT)		7/24 at 100.00		A+		1,499,480
	3,280	5.000%, 7/01/28 (AMT)		7/24 at 100.00		A+		3,694,822
		Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A:
	10,130	5.000%, 12/01/35		6/22 at 100.00		N/R (4)		11,201,450
	3,800	5.000%, 12/01/35		6/22 at 100.00		BBB+		4,054,714
	3,105	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		3,107,981
		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		1,137,670
	1,060	5.000%, 8/01/26		No Opt. Call		Baa3		1,209,142
	1,110	5.000%, 8/01/27		8/26 at 100.00		Baa3		1,262,048
	1,165	5.000%, 8/01/28		8/26 at 100.00		Baa3		1,322,426
	1,230	5.000%, 8/01/29		8/26 at 100.00		Baa3		1,391,930
	2,935	5.000%, 8/01/37		8/26 at 100.00		Baa3		3,198,622
		Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc Project, Improvement and Refunding Series 2011:
	290	6.000%, 3/01/22 (Pre-refunded 3/01/21)		3/21 at 100.00		Baa2 (4)		314,125
	965	6.000%, 3/01/22		3/21 at 100.00		Baa2		1,029,954
	305	6.250%, 3/01/23 (Pre-refunded 3/01/21)		3/21 at 100.00		Baa2 (4)		331,803
	1,015	6.250%, 3/01/23		3/21 at 100.00		Baa2		1,088,831
	340	6.250%, 3/01/24 (Pre-refunded 3/01/21)		3/21 at 100.00		Baa2 (4)		369,879
	1,115	6.250%, 3/01/24		3/21 at 100.00		Baa2		1,193,931
	8,500	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 4/01/48 (Mandatory Put 4/01/24)		1/24 at 100.37		A3		9,130,275
	12,890	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018B, 4.000%, 1/01/49 (Mandatory Put 1/01/25)		10/24 at 100.24		A1		14,013,235

107

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kentucky (continued)
$	11,000	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018C-1, 4.000%, 12/01/49 (Mandatory Put 6/01/25)		3/25 at 100.19		A3	$	11,919,490
		University of Kentucky, General Receipts Bonds, Refunding Series 2018A:
	6,945	3.000%, 10/01/34		4/26 at 100.00		AA		6,950,070
	5,000	3.125%, 10/01/37		4/26 at 100.00		AA		5,004,250
	90,510	Total Kentucky						97,194,404
		Louisiana – 2.3%
		East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2014B:
	970	5.000%, 2/01/23		No Opt. Call		AA		1,084,353
	540	5.000%, 2/01/24		No Opt. Call		AA		616,696
	800	5.000%, 2/01/25		No Opt. Call		AA		932,832
	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		B		561,600
	475	Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2012, 5.000%, 6/01/24 – AGM Insured (Pre-refunded 6/01/22)		6/22 at 100.00		AA (4)		525,241
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A:
	17,490	5.000%, 6/01/25		No Opt. Call		A1		20,698,540
	16,740	5.000%, 6/01/26		No Opt. Call		A1		20,190,951
		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–		2,583,422
	2,850	5.000%, 2/01/29		2/24 at 100.00		AA–		3,223,521
	2,000	5.000%, 2/01/30		2/24 at 100.00		AA–		2,253,840
	30	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Retail Project, Series 2007B, 9.000%, 12/15/14		No Opt. Call		N/R		—
	20,940	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017, 3.500%, 11/01/32		11/27 at 100.00		BBB		21,095,165
	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+		1,098,990
	3,210	Louisiana Public Facilities Authority, Revenue Bonds, Entergy Louisiana, LLC Project, Refunding Series 2016A, 3.375%, 9/01/28		3/21 at 100.00		A		3,230,993
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016:
	25	5.000%, 5/15/30 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		30,230
	1,055	5.000%, 5/15/30		5/26 at 100.00		A3		1,219,211
	30	5.000%, 5/15/32 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		36,276
	3,410	5.000%, 5/15/32		5/26 at 100.00		A3		3,898,585
	40	5.000%, 5/15/33 (Pre-refunded 5/15/26)		5/26 at 100.00		N/R (4)		48,368
	3,660	5.000%, 5/15/33		5/26 at 100.00		A3		4,167,569

108

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017:
$	1,265	5.000%, 5/15/28		5/27 at 100.00		A3	$	1,504,351
	1,000	5.000%, 5/15/29		5/27 at 100.00		A3		1,180,540
	1,155	5.000%, 5/15/30		5/27 at 100.00		A3		1,352,886
	1,750	5.000%, 5/15/31		5/27 at 100.00		A3		2,035,337
	3,210	5.000%, 5/15/42		5/27 at 100.00		A3		3,607,912
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	1,050	5.000%, 7/01/22		No Opt. Call		AA–		1,156,932
	3,120	5.000%, 7/01/29		7/23 at 100.00		AA–		3,480,547
	5,000	5.000%, 7/01/31		7/23 at 100.00		AA–		5,551,150
	3,835	5.000%, 7/01/32		7/23 at 100.00		AA–		4,250,906
		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+		1,304,893
	5,070	5.000%, 9/01/31		9/23 at 100.00		A+		5,668,159
	4,000	5.000%, 9/01/32		9/23 at 100.00		A+		4,468,280
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012:
	4,140	5.000%, 12/01/19		No Opt. Call		AA–		4,231,370
	3,940	5.000%, 12/01/20		No Opt. Call		AA–		4,147,008
	5,400	5.000%, 12/01/21		No Opt. Call		AA–		5,852,304
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015:
	1,000	5.000%, 12/01/22		No Opt. Call		AA–		1,113,800
	870	5.000%, 12/01/23		No Opt. Call		AA–		991,852
	1,020	5.000%, 12/01/24		No Opt. Call		AA–		1,190,095
	480	5.000%, 12/01/25		No Opt. Call		AA–		570,370
	775	5.000%, 12/01/27		12/25 at 100.00		AA–		907,781
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014:
	1,200	5.000%, 6/01/20		No Opt. Call		A		1,245,132
	250	5.000%, 6/01/24		No Opt. Call		A		284,855
	500	5.000%, 6/01/25		6/24 at 100.00		A		573,925
	500	5.000%, 6/01/26		6/24 at 100.00		A		571,550
	600	5.000%, 6/01/27		6/24 at 100.00		A		683,088
	380	5.000%, 6/01/28		6/24 at 100.00		A		432,003
	570	5.000%, 6/01/29		6/24 at 100.00		A		646,585
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015:
	385	5.000%, 6/01/30		6/25 at 100.00		A		436,009
	775	5.000%, 6/01/32		6/25 at 100.00		A		869,938
	1,000	5.000%, 6/01/33		6/25 at 100.00		A		1,118,510
	1,040	5.000%, 6/01/35		6/25 at 100.00		A		1,154,514
	500	Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, Refunding Series 2013B, 5.000%, 4/01/30 (AMT)		4/23 at 100.00		A		546,270
	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		6,877,308
	141,660	Total Louisiana						157,502,543
		Maine – 0.2%
	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		1,164,438

109

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maine (continued)
		Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A:
$	4,220	4.000%, 7/01/41		7/26 at 100.00		BBB	$	4,257,178
	5,580	4.000%, 7/01/46		7/26 at 100.00		BBB		5,612,308
		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		1,086,520
	3,850	6.750%, 7/01/41		7/21 at 100.00		BB		4,166,624
		Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013:
	225	4.000%, 7/01/20		No Opt. Call		BBB+		230,812
	290	5.000%, 7/01/22		No Opt. Call		BBB+		316,747
	16,265	Total Maine						16,834,627
		Maryland – 0.7%
		Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2016:
	1,235	3.250%, 1/01/31		1/26 at 100.00		A		1,263,800
	3,365	5.000%, 1/01/37		1/26 at 100.00		A		3,808,843
		Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017:
	1,160	5.000%, 9/01/26		No Opt. Call		BBB–		1,347,143
	1,760	5.000%, 9/01/27		No Opt. Call		BBB–		2,065,712
	2,655	5.000%, 9/01/29		9/27 at 100.00		BBB–		3,070,906
		Baltimore, Maryland, Revenue Bonds, Water Projects, Series 2013A:
	500	5.000%, 7/01/21		No Opt. Call		AA–		537,860
	1,000	5.000%, 7/01/26		1/24 at 100.00		AA–		1,142,360
	1,715	5.000%, 7/01/27		1/24 at 100.00		AA–		1,952,184
	4,000	Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2019A, 3.750%, 9/01/39		3/28 at 100.00		Aa2		4,108,160
	250	Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35 (Pre-refunded 6/01/20)		6/20 at 100.00		N/R (4)		262,178
	1,000	Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland, College Park Project, Refunding Series 2016, 5.000%, 6/01/28 – AGM Insured		6/26 at 100.00		AA		1,194,670
		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		854,138
	2,250	5.000%, 7/01/33		7/26 at 100.00		BBB		2,551,905
	1,650	5.000%, 7/01/34		7/26 at 100.00		BBB		1,862,536
	2,000	5.000%, 7/01/35		7/26 at 100.00		BBB		2,251,560
	1,570	5.000%, 7/01/36		7/26 at 100.00		BBB		1,758,902
		Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2010:
	740	5.250%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		746,801
	1,260	5.250%, 7/01/24		7/19 at 100.00		A		1,270,219
	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		8,996,402

110

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maryland (continued)
$	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		5/19 at 100.00		BB	$	2,155,065
	1,505	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 70 Series 2017C-2, 3.000%, 11/01/25		5/20 at 100.00		BB		1,499,627
	1,005	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 85 Series 2017C-1, 3.500%, 11/01/26		5/20 at 100.00		BB		1,008,588
	41,350	Total Maryland						45,709,559
		Massachusetts – 1.2%
	900	Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 – NPFG Insured		No Opt. Call		Aa1		969,120
	10,000	Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Refunding Senior Lien Series 2004B, 5.250%, 7/01/20		No Opt. Call		AA		10,463,900
	1,570	Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35		1/20 at 100.00		AA+		1,608,261
	6,750	Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/37		1/20 at 100.00		A+		6,907,410
		Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:
	835	5.000%, 7/01/26		7/24 at 100.00		BB+		919,201
	680	5.000%, 7/01/27		7/24 at 100.00		BB+		747,408
	925	5.000%, 7/01/28		7/24 at 100.00		BB+		1,012,755
	960	5.000%, 7/01/29		7/24 at 100.00		BB+		1,047,254
	4,800	Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc Issue, Series 2017, 4.000%, 10/01/32, 144A		10/22 at 105.00		BB+		4,795,008
	2,370	Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.650%, 10/15/28		5/19 at 100.00		N/R		2,370,545
	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		1,480,122
		Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2:
	2,255	5.000%, 7/01/33		7/28 at 100.00		A–		2,628,473
	1,085	5.000%, 7/01/38		7/28 at 100.00		A–		1,242,889
		Massachusetts Development Finance Agency, Revenue Bonds, Simmons University Issue, Series 2018L:
	1,080	5.000%, 10/01/30		10/28 at 100.00		BBB+		1,285,405
	1,240	5.000%, 10/01/31		10/28 at 100.00		BBB+		1,463,200
	1,765	5.000%, 10/01/32		10/28 at 100.00		BBB+		2,071,475
	4,250	Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L, 3.625%, 7/01/37		7/27 at 100.00		A–		4,266,065

111

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Massachusetts (continued)
$	4,125	Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A, 4.000%, 7/01/37		1/29 at 100.00		BBB+	$	4,255,639
		Massachusetts Development Finance Authority, Revenue Bonds, Suffolk University, Series 2010:
	915	4.500%, 7/01/21		7/20 at 100.00		Baa2		944,545
	1,780	4.500%, 7/01/22		7/20 at 100.00		Baa2		1,835,412
	1,705	4.625%, 7/01/23		7/20 at 100.00		Baa2		1,759,287
		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)		509,640
	2,595	5.500%, 10/15/26 (Pre-refunded 10/15/19)		10/19 at 100.00		N/R (4)		2,650,196
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A:
	1,940	6.000%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		1,961,631
	1,080	6.000%, 7/01/24		7/19 at 100.00		Baa2		1,091,772
	2,485	Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2014-171, 3.850%, 12/01/34		6/24 at 100.00		AA+		2,493,151
	15,000	Massachusetts State, General Obligation Bonds, Revenue Anticipation Note Series 2018B, 4.000%, 5/23/19		No Opt. Call		N/R		15,054,300
	6,540	Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement Program, Series 2014A, 5.000%, 6/01/44		6/24 at 100.00		AA+		7,346,186
	81,660	Total Massachusetts						85,180,250
		Michigan – 1.5%
		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+		2,632,913
	2,650	0.000%, 7/01/23		No Opt. Call		BB+		2,171,861
	2,880	0.000%, 7/01/24		No Opt. Call		BB+		2,233,958
	355	Marquettte, Michigan, Electric Utility System Revenue Bonds, Refunding Series 2016A, 5.000%, 7/01/30		7/26 at 100.00		A		412,908
	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		5,469,927
	14,000	Michigan Finance Authority, State Aid Revenue Notes, Series 2018A-1, 4.000%, 8/20/19		No Opt. Call		N/R		14,125,300
	3,540	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/23		11/19 at 100.00		AA+		3,608,074
	2,450	Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2018A, 3.800%, 10/01/38		10/27 at 100.00		AA		2,501,646
	4,000	Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Fixed Rate Series 2019A, 3.650%, 12/01/39 (WI/DD, Settling 4/11/19)		6/28 at 100.00		AA+		4,089,000
	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		5,386,700
	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		5,844,569

112

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan (continued)
$	1,600	Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/23		11/19 at 100.00		AA+	$	1,631,568
	4,750	Romulus Community Schools, Wayne County, Michigan, General Obligation Bonds, Refunding Series 2013, 5.000%, 5/01/22		No Opt. Call		Aa1		5,165,388
		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		A+		1,140,180
	2,000	5.000%, 9/01/27		3/24 at 100.00		A+		2,273,320
	2,555	5.000%, 9/01/28		3/24 at 100.00		A+		2,891,391
	3,770	5.000%, 9/01/29		3/24 at 100.00		A+		4,245,736
	5,000	5.000%, 9/01/30		3/24 at 100.00		A+		5,606,250
	2,270	5.000%, 9/01/31		3/24 at 100.00		A+		2,537,406
		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		5,063,742
	4,845	5.000%, 5/01/21		11/20 at 100.00		Aa1		5,102,851
	3,845	5.000%, 5/01/22		11/20 at 100.00		Aa1		4,050,246
		Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F:
	3,750	5.000%, 12/01/32 (AMT)		12/25 at 100.00		A		4,297,050
	5,295	5.000%, 12/01/33 (AMT)		12/25 at 100.00		A		6,046,572
	5,000	5.000%, 12/01/34 (AMT)		12/25 at 100.00		A		5,693,350
	98,765	Total Michigan						104,221,906
		Minnesota – 0.6%
	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		AAA		1,757,743
		Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A:
	885	5.000%, 2/15/33		2/28 at 100.00		A–		1,029,175
	1,085	5.000%, 2/15/37		2/28 at 100.00		A–		1,244,256
	8,085	4.250%, 2/15/43		2/28 at 100.00		A–		8,525,633
	55	4.250%, 2/15/48		2/28 at 100.00		A–		57,774
		Minneapolis-St Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2014A:
	2,590	5.000%, 1/01/25		1/24 at 100.00		A+		2,975,055
	2,005	5.000%, 1/01/32		1/24 at 100.00		A+		2,253,380
	3,000	Minnesota State, General Obligation Bonds, Various Purpose Series 2015A, 5.000%, 8/01/22		No Opt. Call		AAA		3,336,660
	8,790	Minnesota State, General Obligation Bonds, Various Purpose Series 2016A, 5.000%, 8/01/20		No Opt. Call		AAA		9,196,010
	425	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2013A, 4.000%, 1/01/28		1/23 at 100.00		A–		450,878
	1,150	Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2013, 5.000%, 7/01/33		7/23 at 100.00		A		1,258,123
	2,060	Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Refunding Series 2014B, 5.000%, 5/01/23		No Opt. Call		AA–		2,314,966
		Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1:
	525	5.000%, 11/15/24 (Pre-refunded 11/15/19)		11/19 at 100.00		N/R (4)		536,114
	490	5.000%, 11/15/24		11/19 at 100.00		AA–		500,158

113

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
$	6,580	Saint Paul Independent School District 625, Ramsey County, Minnesota, Certificates of Participation, Series 2018B, 3.500%, 2/01/39		2/27 at 100.00		AAA	$	6,732,196
	295	Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/21		5/19 at 100.00		N/R		295,859
	39,730	Total Minnesota						42,463,980
		Mississippi – 0.6%
	6,570	Mississippi Business Finance Corporation, Pollution Control Revenue, Mississippi Power, Series 2002, 3.200%, 9/01/28		3/24 at 100.00		A–		6,623,874
	8,190	Mississippi Business Finance Corporation, Revenue Bonds, Mississippi Power Company Project, First Series 2010, 2.750%, 12/01/40 (Mandatory Put 12/09/21)		No Opt. Call		A–		8,246,921
	13,545	Mississippi Business Finance Corporation, Revenue Bonds, System Energy Resources, Inc Project, Refunding Series 2019, 2.500%, 4/01/22		4/21 at 100.00		BBB+		13,605,546
	8,870	Mississippi State, General Obligation Bonds, Series 2013B, 5.000%, 12/01/28 (Pre-refunded 12/01/23)		12/23 at 100.00		AA (4)		10,232,875
	37,175	Total Mississippi						38,709,216
		Missouri – 0.5%
	1,390	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–		1,585,851
	1,100	Great Rivers Greenway Metropolitan Park & Recreation District, Missouri, Sales Tax Appropriation Bonds, Gateway Arch Project, Series 2014, 3.000%, 12/30/24		12/23 at 100.00		A+		1,155,847
	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–		1,009,240
	1,465	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+		1,573,615
	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+		224,272
	1,390	Missouri Health and Educational Facilities Authority, Revenue Bonds, AT Still University of Health Sciences, Series 2014, 4.250%, 10/01/32		10/23 at 100.00		A–		1,469,452
		Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Iatan 2 Project, Refunding Series 2014A:
	1,330	5.000%, 1/01/25		1/24 at 100.00		A2		1,519,246
	2,525	5.000%, 1/01/26		1/24 at 100.00		A2		2,879,359
	1,000	5.000%, 1/01/32		1/24 at 100.00		A2		1,120,290
	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		4,635,592
	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		A2		17,468,532
	1,155	Stoddard County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Southeasthealth, Series 2016B, 6.000%, 3/01/37		3/23 at 103.00		BBB–		1,308,869
	34,030	Total Missouri						35,950,165

114

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Montana – 0.6%
$	570	Cascade County High School District A Great Falls, Montana, General Obligation Bonds, School Building Series 2017, 4.000%, 7/01/30		7/27 at 100.00		A+	$	635,031
	1,500	Cascade County High School District A Great Falls, Montana, General Obligation Bonds, School Building Series 2018, 5.000%, 7/01/38		7/28 at 100.00		A+		1,770,990
	35,095	Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2016, 2.000%, 8/01/23		No Opt. Call		A		35,229,063
	550	Montana Facilities Finance Authority, Montana, Health Facilities Reveue Bonds, Bozeman Deaconess Health Services Obligated Group, Series 2018, 3.250%, 6/01/32		6/28 at 100.00		A		563,585
	2,500	Montana Facility 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–		2,560,750
	40,215	Total Montana						40,759,419
		Nebraska – 1.4%
	5,000	Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Series 2018A, 5.000%, 3/01/50 (Mandatory Put 1/01/24)		10/23 at 100.43		A3		5,544,650
	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		1,156,623
	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+		10,043,957
	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–		713,272
	370	Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2015, 5.000%, 12/15/22		No Opt. Call		AA–		414,648
	1,000	Lancaster County Hospital Authority 1, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.125%, 1/01/23		1/20 at 100.00		AA		1,023,560
	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–		6,285,403
		Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018:
	540	5.000%, 7/01/23		No Opt. Call		BBB		596,257
	1,250	5.000%, 7/01/24		No Opt. Call		BBB		1,405,463
	530	5.000%, 7/01/25		No Opt. Call		BBB		604,470
	750	5.000%, 7/01/26		7/25 at 100.00		BBB		851,625
	200	5.000%, 7/01/27		7/25 at 100.00		BBB		226,076
	835	5.000%, 7/01/28		7/25 at 100.00		BBB		940,101
	485	5.000%, 7/01/29		7/25 at 100.00		BBB		544,316
	1,000	5.000%, 7/01/30		7/25 at 100.00		BBB		1,115,990
	180	5.000%, 7/01/33		7/25 at 100.00		BBB		198,090
	13,725	Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2015C, 3.900%, 9/01/35		9/24 at 100.00		AA+		14,212,924
	3,980	Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2018C, 3.750%, 9/01/38		9/27 at 100.00		AA+		4,096,455

115

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nebraska (continued)
$	18,380	Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019A, 3.600%, 9/01/44 (WI/DD, Settling 4/30/19)		3/28 at 100.00		AA+	$	18,419,333
		Nebraska Public Power District, General Revenue Bonds, Series 2012A:
	1,485	5.000%, 1/01/23		1/22 at 100.00		A+		1,619,378
	1,510	5.000%, 1/01/24		1/22 at 100.00		A+		1,645,356
	950	5.000%, 1/01/25		1/22 at 100.00		A+		1,033,828
	645	Papillion-LaVista School District 27, Sarpy County, Nebraska, General Obligation Bonds, Series 2014, 5.000%, 12/01/22		No Opt. Call		Aa2		722,793
	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		9,255,200
		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		BBB+		4,146,414
	1,355	5.250%, 2/01/29		2/27 at 100.00		BBB+		1,530,974
	6,000	Southeast Community College Area, Nebraska, Certificates of Participation, Series 2018, 3.375%, 12/15/37		6/28 at 100.00		Aa1		6,049,620
	88,885	Total Nebraska						94,396,776
		Nevada – 1.6%
		Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A:
	2,000	5.000%, 7/01/22 (AMT)		No Opt. Call		A+		2,187,760
	1,050	5.000%, 7/01/23 (AMT)		1/23 at 100.00		A+		1,170,026
	1,905	5.000%, 7/01/24 (AMT)		1/23 at 100.00		A+		2,116,912
	8,220	Clark County, Nevada, Airport Revenue Bonds, Junior Subordinate Lien Notes Series 2018A, 5.000%, 7/01/21		No Opt. Call		A+		8,812,251
	21,050	Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42		1/20 at 100.00		Aa3		21,639,821
	5,275	Clark County, Nevada, General Obligation Bonds, Refunding Flood Control Series 2014, 4.000%, 11/01/33		11/24 at 100.00		AA+		5,640,083
		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		1,735,598
	2,275	4.000%, 9/01/35		9/26 at 100.00		N/R		2,216,100
		Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C:
	1,550	5.000%, 6/01/23		6/21 at 100.00		AA+		1,662,468
	1,000	5.000%, 6/01/24		6/21 at 100.00		AA+		1,071,230
	12,450	5.000%, 6/01/25		6/21 at 100.00		AA+		13,321,749
		Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B:
	2,125	5.000%, 6/01/24		6/22 at 100.00		AA+		2,343,046
	1,545	5.000%, 6/01/25		6/22 at 100.00		AA+		1,700,365
	2,000	5.000%, 6/01/26		6/22 at 100.00		AA+		2,199,160
		Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, Refunding Series 2013:
	85	4.000%, 6/01/19		No Opt. Call		N/R		85,158
	50	4.000%, 6/01/20		No Opt. Call		N/R		50,704
	340	5.000%, 6/01/22		No Opt. Call		N/R		359,523

116

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nevada (continued)
$	4,695	Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2012B, 5.000%, 8/01/22		No Opt. Call		AA+	$	5,215,394
	11,150	Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2013D-1, 5.000%, 3/01/22		No Opt. Call		AA+		12,241,027
	12,065	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+		12,426,467
	3,000	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) (AMT)		No Opt. Call		A+		2,997,330
		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		3,509,222
	4,710	5.000%, 7/01/23		7/21 at 100.00		AA		5,059,812
	103,555	Total Nevada						109,761,206
		New Hampshire – 0.3%
	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 (AMT)		1/26 at 100.00		A+		931,417
	12,370	New Hampshire Business Finance Authority, Pollution Control Revenue Bonds, United Illuminating Company, Refunding Series 2003A, 2.800%, 10/01/33 (Mandatory Put 10/02/23)		No Opt. Call		A–		12,679,374
	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)		5,760,438
	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		A–		2,037,119
	845	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–		861,866
	21,675	Total New Hampshire						22,270,214
		New Jersey – 5.5%
		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+		2,768,025
	1,045	5.000%, 2/15/34		2/24 at 100.00		BBB+		1,140,910
	8,535	Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (AMT)		No Opt. Call		BBB–		9,141,924

117

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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:
$	5,555	5.000%, 6/15/19		No Opt. Call		BBB+	$	5,589,330
	5,905	5.000%, 6/15/20		No Opt. Call		BBB+		6,114,864
	13,995	5.000%, 6/15/21		No Opt. Call		BBB+		14,871,227
	2,465	5.000%, 6/15/22		No Opt. Call		BBB+		2,683,005
	1,100	5.000%, 6/15/22		No Opt. Call		AA		1,197,284
	7,180	5.000%, 6/15/23		6/22 at 100.00		BBB+		7,799,993
	2,990	5.000%, 6/15/24		6/22 at 100.00		BBB+		3,238,170
	7,615	5.000%, 6/15/25		6/22 at 100.00		BBB+		8,228,997
	5,000	5.000%, 6/15/26		6/22 at 100.00		BBB+		5,391,850
	950	4.250%, 6/15/27		6/22 at 100.00		BBB+		1,000,417
	4,625	5.000%, 6/15/28		6/22 at 100.00		BBB+		4,964,382
		New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013:
	1,350	5.000%, 1/01/28 (AMT)		1/24 at 100.00		BBB		1,503,981
	2,215	5.000%, 1/01/31 – AGM Insured (AMT)		1/24 at 100.00		AA		2,457,144
	9,120	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 3.375%, 7/01/30		7/27 at 100.00		BBB+		9,150,917
	25,000	New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/27		6/25 at 100.00		A–		27,834,000
	6,000	New Jersey Economic Development Authority, Special Facility Revenue Bonds, Port Newark Container Terminal LLC Project, Refunding Series 2017, 5.000%, 10/01/47 (AMT)		10/27 at 100.00		Ba1		6,498,240
	350	New Jersey Educational Facilities Authority, Revenue Bonds, Seton Hall University, Series 2016C, 3.000%, 7/01/41		7/26 at 100.00		A–		332,539
	2,000	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44		7/24 at 100.00		AA–		2,241,400
	1,000	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s Healthcare System Obligated Group Issue, Refunding Series 2016, 5.000%, 7/01/35		7/26 at 100.00		BBB–		1,109,990
		New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A:
	4,415	3.500%, 12/01/29 (AMT)		12/26 at 100.00		Aaa		4,593,189
	11,705	3.750%, 12/01/31 (AMT)		12/26 at 100.00		Aaa		12,191,928
	11,975	4.000%, 12/01/32 (AMT)		12/26 at 100.00		Aaa		12,610,034
	5,000	3.750%, 12/01/33 (AMT)		12/26 at 100.00		Aaa		5,161,000
	980	New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 2018A, 3.750%, 10/01/35		10/27 at 100.00		AA		1,018,828
		New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A:
	6,145	5.000%, 6/15/24		No Opt. Call		A+		6,955,280
	8,375	5.000%, 6/15/29		6/26 at 100.00		A+		9,572,290
	9,395	5.000%, 6/15/30		6/26 at 100.00		A+		10,663,043
	10,530	5.000%, 6/15/31		6/26 at 100.00		A+		11,891,845
	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–		903,096
	5,240	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003B, 5.250%, 12/15/19		No Opt. Call		A–		5,366,284

118

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Jersey (continued)
$	10,630	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/23		No Opt. Call		A–	$	11,845,540
		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B:
	4,860	5.500%, 6/15/31		6/21 at 100.00		A–		5,128,564
	10,055	5.250%, 6/15/36		6/21 at 100.00		A–		10,502,950
	585	5.000%, 6/15/42		6/21 at 100.00		A–		605,276
	14,000	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA, 5.000%, 6/15/22		No Opt. Call		A–		15,147,580
	20,200	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013A, 5.000%, 6/15/20		No Opt. Call		A–		20,930,836
	685	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013AA, 5.000%, 6/15/36		6/23 at 100.00		A–		725,114
		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:
	1,810	5.250%, 6/15/33		6/25 at 100.00		A–		2,000,141
	1,850	5.250%, 6/15/34		6/25 at 100.00		A–		2,037,016
		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2018A:
	2,000	5.000%, 12/15/23		No Opt. Call		A–		2,228,700
	5,855	4.250%, 12/15/38		12/28 at 100.00		A–		6,024,209
	16,010	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019AA, 3.750%, 6/15/33		12/28 at 100.00		A–		16,127,673
	5,615	Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (AMT)		No Opt. Call		BBB–		5,999,178
		South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Refunding Series 2012Q:
	4,505	3.000%, 1/01/20		No Opt. Call		Baa1		4,528,786
	2,950	3.000%, 1/01/21		No Opt. Call		Baa1		2,982,066
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A:
	3,500	5.000%, 6/01/28		No Opt. Call		A–		4,171,440
	3,085	5.000%, 6/01/30		6/28 at 100.00		A–		3,616,515
	6,560	5.000%, 6/01/31		6/28 at 100.00		A–		7,627,378
	6,000	5.000%, 6/01/35		6/28 at 100.00		A–		6,815,940
	11,480	4.000%, 6/01/37		6/28 at 100.00		A–		11,674,471
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B:
	25,600	3.200%, 6/01/27		No Opt. Call		BBB+		26,401,792
	2,770	5.000%, 6/01/46		6/28 at 100.00		BBB		2,926,173
	352,300	Total New Jersey						376,232,744
		New Mexico – 0.3%
	1,800	New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2018B, 3.750%, 7/01/38		7/27 at 100.00		Aaa		1,859,130
	5,250	New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2018C, 3.750%, 7/01/38		1/28 at 100.00		Aaa		5,411,385

119

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Mexico (continued)
$	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		Aa2	$	15,004,440
	21,900	Total New Mexico						22,274,955
		New York – 5.2%
	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)		4,205,713
		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+		343,863
	500	5.000%, 1/01/25		No Opt. Call		A+		584,700
	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		5,170,373
		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, 144A		No Opt. Call		BBB–		2,206,185
	1,400	5.000%, 12/01/27, 144A		6/27 at 100.00		BBB–		1,650,236
	1,300	5.000%, 12/01/29, 144A		6/27 at 100.00		BBB–		1,514,773
	1,500	5.000%, 12/01/32, 144A		6/27 at 100.00		BBB–		1,723,560
	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		7,398,764
		Dormitory Authority of the State of New York, State University Educational Facilities Revenue Bonds, Third General Resolution, Series 2012A:
	10,055	5.000%, 5/15/24		5/22 at 100.00		AA		11,079,303
	9,285	5.000%, 5/15/25		5/22 at 100.00		AA		10,218,978
		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		103,589
	1,055	0.000%, 6/01/23 – AGM Insured		No Opt. Call		AA		969,872
	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–		6,098,490
	200	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.000%, 4/01/19 (ETM)		No Opt. Call		N/R (4)		200,000
	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–		1,354,783
		Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2018B-1, Subseries A-J:
	11,000	5.000%, 5/15/20		No Opt. Call		N/R		11,390,390
	8,160	5.000%, 5/15/20		No Opt. Call		N/R		8,449,598
	12,115	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2018B-2, Subseries A-E, 5.000%, 5/15/21		No Opt. Call		N/R		12,897,508
	14,390	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2018C Subseries 2018C-2, 5.000%, 9/01/21		No Opt. Call		N/R		15,424,497

120

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	15,000	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2019A, 4.000%, 2/03/20		No Opt. Call		N/R	$	15,287,100
		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–		1,691,955
	1,000	5.000%, 7/01/29		7/24 at 100.00		A–		1,123,850
		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–		730,508
	2,455	5.000%, 7/01/32		7/24 at 100.00		A–		2,704,895
		New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2009C-1:
	3,500	5.550%, 11/01/39		5/19 at 100.00		AA+		3,511,480
	7,155	5.700%, 11/01/46		5/19 at 100.00		AA+		7,179,327
	10,000	New York City, New York, General Obligation Bonds, Fiscal 2003 Series C-A RMKT, 5.000%, 8/01/19		No Opt. Call		Aa1		10,115,400
	20,000	New York City, New York, General Obligation Bonds, Fiscal 2015 Series A, 5.000%, 8/01/20		No Opt. Call		Aa1		20,913,000
	6,995	New York City, New York, General Obligation Bonds, Fiscal 2018 Series A, 5.000%, 8/01/19		No Opt. Call		Aa1		7,075,722
		New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2018I:
	900	3.625%, 11/01/33		11/27 at 100.00		Aa2		933,489
	2,000	3.875%, 11/01/38		11/27 at 100.00		Aa2		2,066,500
	5,500	New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2019D, 2.050%, 5/01/23		1/21 at 100.00		Aa2		5,508,635
	10,000	New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2019C, 3.850%, 11/01/39		5/28 at 100.00		Aa2		10,284,400
	2,500	New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2019E, 2.125%, 11/01/23		8/21 at 100.00		Aa2		2,504,925
	16,270	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A2		16,315,068
		New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Delta Air Lines, Inc – LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018:
	2,000	5.000%, 1/01/34 (AMT)		1/28 at 100.00		Baa3		2,318,140
	15,510	4.000%, 1/01/36 (AMT)		1/28 at 100.00		Baa3		16,082,939
		New York Transportation Development Corporation, New York, Special Facility Revenue Refunding Bonds, Terminal One Group Association, LP Project, Series 2015:
	2,005	5.000%, 1/01/22 (AMT)		No Opt. Call		A–		2,157,801
	2,065	5.000%, 1/01/23 (AMT)		No Opt. Call		A–		2,272,677

121

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
		New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A:
$	1,440	5.000%, 7/01/30 (AMT)		7/24 at 100.00		BBB	$	1,602,274
	2,045	4.000%, 7/01/32 (AMT)		7/24 at 100.00		BBB		2,125,962
	8,075	4.000%, 7/01/33 (AMT)		7/24 at 100.00		BBB		8,372,241
	9,565	5.000%, 7/01/34 (AMT)		7/24 at 100.00		BBB		10,531,926
	11,975	5.000%, 7/01/41 (AMT)		7/24 at 100.00		BBB		13,014,789
	49,965	5.000%, 7/01/46 (AMT)		7/24 at 100.00		BBB		54,107,598
	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)		1,008,880
	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–		11,521,031
	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		BBB+		842,946
		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–		2,746,607
	2,695	5.000%, 7/01/29		7/24 at 100.00		A–		3,027,347
	4,200	5.000%, 7/01/30		7/24 at 100.00		A–		4,684,176
	2,100	5.000%, 7/01/31		7/24 at 100.00		A–		2,325,813
	1,335	5.000%, 7/01/32		7/24 at 100.00		A–		1,470,890
	3,080	5.000%, 7/01/33		7/24 at 100.00		A–		3,384,612
	333,885	Total New York						354,530,078
		North Carolina – 0.5%
	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		622,493
		North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2012B:
	5,020	5.000%, 1/01/20 (ETM)		No Opt. Call		N/R (4)		5,151,474
	10,040	5.000%, 1/01/21 (ETM)		No Opt. Call		N/R (4)		10,650,733
	1,430	North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/26		5/19 at 100.00		A		1,433,446
	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		13,719,436
	200	University of North Carolina, Greensboro, General Revenue Bonds, Series 2014, 4.000%, 4/01/19		No Opt. Call		Aa3		200,000
	28,900	Total North Carolina						31,777,582
		North Dakota – 0.9%
		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)		128,885
	1,240	5.000%, 7/01/26 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,331,810
	2,835	5.000%, 7/01/27 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		3,044,903
	1,485	5.000%, 7/01/28 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,594,949
	1,000	5.000%, 7/01/31 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		1,074,040
	2,955	5.000%, 7/01/35 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		3,173,788

122

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Dakota (continued)
$	2,755	Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31		11/21 at 100.00		A+	$	3,077,225
	20,465	Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012, 5.000%, 12/01/35		12/21 at 100.00		A–		21,643,989
		Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C:
	3,065	5.000%, 6/01/28		No Opt. Call		BBB–		3,573,514
	3,000	5.000%, 6/01/29		6/28 at 100.00		BBB–		3,472,200
	1,245	5.000%, 6/01/31		6/28 at 100.00		BBB–		1,420,881
	3,480	5.000%, 6/01/34		6/28 at 100.00		BBB–		3,916,775
	12,480	5.000%, 6/01/38		6/28 at 100.00		BBB–		13,824,595
	56,125	Total North Dakota						61,277,554
		Ohio – 4.4%
	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–		2,050,784
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
	58,535	5.125%, 6/01/24		4/19 at 100.00		B–		55,877,511
	3,295	5.375%, 6/01/24		4/19 at 100.00		B–		3,174,733
	13,310	5.875%, 6/01/30		4/19 at 100.00		B–		13,027,162
	18,875	5.750%, 6/01/34		4/19 at 100.00		B–		18,250,992
	5,450	Cincinnati, Ohio, General Obligation Bonds, Various Purpose, Refunding & Improvement Series 2016A, 4.000%, 12/01/19		No Opt. Call		AA		5,539,598
		Cleveland, Ohio, Airport System Revenue Bonds, Refunding Series 2016A:
	1,525	5.000%, 1/01/28 – AGM Insured		1/25 at 100.00		AA		1,749,297
	2,230	5.000%, 1/01/29 – AGM Insured		1/25 at 100.00		AA		2,554,086
	2,000	5.000%, 1/01/30 – AGM Insured		1/25 at 100.00		AA		2,276,800
	1,800	5.000%, 1/01/31 – AGM Insured		1/25 at 100.00		AA		2,048,094
		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)		1,739,695
	1,780	5.000%, 12/01/23 (Pre-refunded 12/01/19)		12/19 at 100.00		AA+ (4)		1,821,563
	18,635	Columbus, Ohio, General Obligation Bonds, Various Purpose Series 2018A, 5.000%, 4/01/32		10/28 at 100.00		AAA		23,026,338
	3,070	Franklin County, Ohio, Revenue Bonds, CHE Trinity Health Credit Group, Variable Rate Demand Obligation Series 2013, 1.750%, 12/01/46 (Mandatory Put 8/01/19)		8/19 at 100.00		AA–		3,070,368
	470	Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc, Refunding Series 2008C, 5.500%, 8/15/24		5/19 at 100.00		A–		471,387
	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+		7,989,082
		New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C:
	870	4.000%, 10/01/19		No Opt. Call		Aa3		880,562
	1,150	4.000%, 10/01/20		No Opt. Call		Aa3		1,191,538
	1,205	5.000%, 10/01/21		No Opt. Call		Aa3		1,300,822
	965	5.000%, 10/01/22		No Opt. Call		Aa3		1,069,770

123

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	2,940	Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (7)		No Opt. Call		N/R	$	2,528,400
	1,400	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 0.000%, 3/01/23 (7)		No Opt. Call		N/R		1,204,000
	11,630	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18 (7)		No Opt. Call		CCC+		11,630,000
	28,740	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (7)		No Opt. Call		N/R		24,716,400
	915	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 (7)		No Opt. Call		N/R		786,900
	3,610	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) (7)		No Opt. Call		N/R		3,104,600
	250	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) (AMT) (7)		No Opt. Call		N/R		215,000
	1,020	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2009A, 4.375%, 6/01/33 (Mandatory Put 6/01/22) (7)		No Opt. Call		N/R		1,020,000
	735	Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, Series 2017, 3.750%, 1/15/28 (AMT), 144A		No Opt. Call		N/R		766,870
	7,510	Ohio State, General Obligation Bonds, Highway Capital Improvement Series 2012Q, 5.000%, 5/01/21		No Opt. Call		AAA		8,045,838
	7,000	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011B, 4.000%, 9/15/21		No Opt. Call		AA+		7,416,080
	24,230	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2014A, 5.000%, 9/15/19		No Opt. Call		AA+		24,609,926
	8,160	Ohio State, General Obligation Bonds, Refunding Higher Education Series 2012C, 5.000%, 8/01/21		No Opt. Call		AA+		8,807,904
	8,760	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc, Refunding Series 2016A, 5.000%, 1/15/41		1/26 at 100.00		A		9,738,755
	8,500	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) (7)		No Opt. Call		N/R		7,310,000
	3,855	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19 (7)		No Opt. Call		N/R		3,315,300
	2,355	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) (7)		No Opt. Call		N/R		2,025,300
	8,645	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) (7)		No Opt. Call		N/R		7,434,700

124

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	1,945	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory Put 6/03/19) (7)		No Opt. Call		N/R	$	1,672,700
	5,450	Ohio Water Development Authority, State of Ohio, Water Pollution Control Loan Fund, Series 2019A, 5.000%, 6/01/29		3/29 at 100.00		AAA		6,947,224
	12,010	Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Series 2014, 5.000%, 6/01/21		No Opt. Call		AAA		12,900,181
	2,470	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		2,541,358
	298,345	Total Ohio						297,847,618
		Oklahoma – 1.8%
		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		AA–		2,437,590
	1,415	4.000%, 9/01/23		9/21 at 100.00		AA–		1,488,509
		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+		3,142,919
	7,545	5.000%, 6/01/22		No Opt. Call		A+		8,289,767
	3,080	5.000%, 6/01/23		No Opt. Call		A+		3,466,910
		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		1,758,987
	1,410	5.000%, 12/01/31		12/27 at 100.00		A		1,654,847
		Garfield County Educational Facilities Authority, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A:
	3,165	5.000%, 9/01/30		9/26 at 100.00		A		3,698,018
	3,145	5.000%, 9/01/31		9/26 at 100.00		A		3,650,622
	3,150	Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018, 3.625%, 9/01/36		9/28 at 100.00		A–		3,234,861
		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		1,046,330
	2,115	5.000%, 9/01/22		No Opt. Call		A		2,313,662
	1,000	5.000%, 9/01/23		No Opt. Call		A		1,117,110
	1,870	5.000%, 9/01/24		No Opt. Call		A		2,129,911
	2,490	5.000%, 9/01/26		No Opt. Call		A		2,926,547
		McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Purcell Public Schools Project, Series 2018:
	1,280	5.000%, 9/01/30		9/28 at 100.00		A		1,564,058
	1,565	5.000%, 9/01/34		9/28 at 100.00		A		1,871,787
		Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:
	6,045	5.000%, 8/15/33		8/28 at 100.00		Baa3		6,916,024
	16,530	5.000%, 8/15/38		8/28 at 100.00		Baa3		18,585,340

125

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
		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–	$	817,860
	500	3.000%, 9/01/23		No Opt. Call		A–		515,010
	600	5.000%, 9/01/24		No Opt. Call		A–		681,756
	1,505	5.000%, 9/01/25		No Opt. Call		A–		1,741,195
	3,210	Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A, 5.625%, 6/01/38 (AMT)		6/23 at 100.00		AA		3,596,035
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016:
	3,435	5.000%, 9/01/25		9/23 at 100.00		AA–		3,878,939
	10,675	5.000%, 9/01/26		9/23 at 100.00		AA–		11,996,885
	1,595	Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2019A, 5.000%, 9/01/29		No Opt. Call		AA–		1,984,355
		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–		7,275,880
	7,910	5.000%, 9/01/26		9/25 at 100.00		AA–		9,311,098
		Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019:
	2,000	5.000%, 3/01/29		No Opt. Call		A–		2,423,480
	1,695	5.000%, 3/01/31		3/29 at 100.00		A–		2,020,406
	2,500	5.000%, 3/01/33		3/29 at 100.00		A–		2,953,075
	106,030	Total Oklahoma						120,489,773
		Oregon – 0.9%
	1,750	Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A, 0.000%, 6/15/38		6/28 at 100.00		AA+		1,957,690
	1,190	Clackamas Community College District, Oregon, General Obligation Bonds, Deferred Interest Series 2017A, 0.000%, 6/15/40 (6)		6/27 at 100.00		Aa1		1,297,493
	4,145	Clackamas Community College District, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/15/20 – FGIC Insured		No Opt. Call		Aa1		4,317,183
		Clackamas County School District 62, Oregon City, Oregon, General Obligation Bonds, Refunding Series 2018A:
	1,665	0.000%, 6/15/34		6/28 at 79.31		AA+		994,455
	1,500	0.000%, 6/15/35		6/28 at 75.58		AA+		844,215
	1,000	0.000%, 6/15/37		6/28 at 69.16		AA+		510,800
	1,450	0.000%, 6/15/39		6/28 at 63.17		AA+		670,524
	3,500	Oregon Housing and Community Services Department, Mortgage Revenue Bonds, Single-Family Mortgage Program, Series 2017D, 3.450%, 1/01/38		1/27 at 100.00		Aa2		3,563,945
	5,800	Oregon Housing and Community Services Department, Mortgage Revenue Bonds, Single-Family Mortgage Program, Series 2018C, 3.900%, 7/01/38		7/27 at 100.00		Aa2		6,057,230
	15,995	Oregon State Business Development Commission, Recovery Zone Facility Revenue Bonds, Intel Corporation Project, 232 Series 2010, 2.400%, 12/01/40 (Mandatory Put 8/14/23)		No Opt. Call		A+		16,248,361
	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		4,016,840

126

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oregon (continued)
$	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	$	12,517,117
		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		AA–		3,958,820
	1,925	5.000%, 5/15/33		5/26 at 100.00		AA–		2,216,079
	58,465	Total Oregon						59,170,752
		Pennsylvania – 5.4%
		Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A:
	1,000	5.000%, 4/01/36		4/28 at 100.00		A		1,145,880
	10,000	4.000%, 4/01/37		4/28 at 100.00		A		10,468,900
	6,000	4.000%, 4/01/38		4/28 at 100.00		A		6,252,600
	1,000	4.000%, 4/01/44		4/28 at 100.00		A		1,026,230
		Allegheny County, Pennsylvania, General Obligation Bonds, Series C69-C70 of 2012:
	1,000	5.000%, 12/01/25		12/22 at 100.00		AA–		1,112,300
	4,000	5.000%, 12/01/37		12/22 at 100.00		AA–		4,379,040
	1,525	Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018, 5.000%, 5/01/28, 144A		No Opt. Call		Ba3		1,719,300
	1,200	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) (7)		No Opt. Call		N/R		1,032,000
	2,880	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) (7)		No Opt. Call		N/R		2,476,800
	7,770	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (7)		No Opt. Call		N/R		6,682,200
	8,740	Berks County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Tower Health Project, Series 2017, 4.000%, 11/01/39		11/27 at 100.00		A		9,119,491
	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)		1,326,533
	1,000	Capital Region Water, Pennsylvania, Water Revenue Bonds, Series 2018, 5.000%, 7/15/27		No Opt. Call		A+		1,209,450
	39,480	Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018, 4.000%, 6/01/39 – AGM Insured		6/28 at 100.00		AA		41,500,586
		Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann University, Series 2010:
	1,000	5.000%, 10/01/21		10/20 at 100.00		BBB		1,041,130
	1,050	5.000%, 10/01/25		10/20 at 100.00		BBB		1,100,799

127

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Indiana County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Indiana Regional Medical Center, Series 2014A:
$	200	4.000%, 6/01/19		No Opt. Call		Ba1	$	200,420
	410	5.000%, 6/01/22		No Opt. Call		Ba1		436,384
	790	5.000%, 6/01/24		6/23 at 100.00		Ba1		849,337
	520	5.000%, 6/01/25		6/23 at 100.00		Ba1		555,823
	370	5.125%, 6/01/26		6/23 at 100.00		Ba1		396,840
	460	5.375%, 6/01/28		6/23 at 100.00		Ba1		495,296
	12,575	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		12,348,398
	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		10,410,592
	3,140	Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.750%, 12/15/27 (Pre-refunded 12/15/19)		12/19 at 100.00		N/R (4)		3,273,167
	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+		5,913,806
	4,055	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) (7)		No Opt. Call		N/R		3,487,300
	3,455	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor, Series 2006A, 2.550%, 11/01/41 (Mandatory Put 6/01/19) (7)		No Opt. Call		N/R		2,971,300
	2,410	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)		2,468,250
		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		2,274,292
	2,265	5.500%, 1/01/26		1/24 at 100.00		AA		2,589,688
	2,260	5.500%, 1/01/27		1/24 at 100.00		AA		2,575,134
		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		575,770
	1,095	5.500%, 1/01/26 – AGM Insured		1/24 at 100.00		AA		1,251,968
	2,505	5.500%, 1/01/28 – AGM Insured		1/24 at 100.00		AA		2,847,258
	2,050	5.500%, 1/01/29 – AGM Insured		1/24 at 100.00		AA		2,324,310
	1,255	5.500%, 1/01/31 – AGM Insured		1/24 at 100.00		AA		1,418,476
	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) (AMT)		No Opt. Call		A–		10,435,950
	665	Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B, 5.000%, 1/01/21		4/19 at 100.00		Aaa		666,084
	19,870	Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-120, 3.100%, 10/01/36		10/25 at 100.00		AA+		19,923,252

128

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	8,950	Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-121, 3.100%, 10/01/36		10/25 at 100.00		AA+	$	8,973,986
	15,305	Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A, 3.700%, 10/01/37 (AMT)		4/27 at 100.00		AA+		15,558,298
		Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128B:
	6,585	3.500%, 10/01/34		10/27 at 100.00		AA+		6,801,120
	3,000	3.850%, 4/01/38		10/27 at 100.00		AA+		3,100,770
		Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2014A:
	2,095	0.000%, 12/01/34 (6)		12/26 at 100.00		AA–		2,066,822
	5,000	0.000%, 12/01/37 (6)		12/26 at 100.00		AA–		4,932,300
	16,080	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 6.375%, 12/01/38		12/27 at 100.00		A		20,364,998
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2:
	5,905	5.000%, 6/01/25		No Opt. Call		A3		6,861,197
	2,830	5.000%, 6/01/29		6/26 at 100.00		A3		3,293,271
	22,145	5.000%, 6/01/35		6/26 at 100.00		A3		25,121,288
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2017:
	2,500	5.000%, 12/01/29		12/27 at 100.00		A3		2,960,900
	3,190	5.000%, 12/01/31		12/27 at 100.00		A3		3,727,866
	5,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016A, 5.000%, 12/01/36		12/26 at 100.00		A3		5,686,150
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 2017:
	3,495	5.000%, 12/01/31		12/27 at 100.00		A3		4,084,292
	2,250	5.000%, 12/01/32		12/27 at 100.00		A3		2,620,237
	2,000	4.000%, 12/01/36		12/27 at 100.00		A3		2,118,120
	12,005	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/24		No Opt. Call		A+		14,056,294
	1,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2016A-1, 5.000%, 12/01/28		6/26 at 100.00		A1		1,184,930
	3,000	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2017A-1, 5.000%, 12/01/36		12/27 at 100.00		A1		3,523,920
	7,445	Philadelphia Authority For Industrial Development, Pennsylvania, City Agreement Revenue Bonds, Cultural and Commercial Corridors Program, Refunding Series 2016A, 5.000%, 12/01/29		12/25 at 100.00		A		8,547,083
	3,025	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)		3,163,484
		Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B:
	1,525	5.000%, 7/01/19 (AMT)		No Opt. Call		A		1,536,621
	3,100	5.000%, 7/01/20 (AMT)		No Opt. Call		A		3,218,575
	1,250	5.000%, 7/01/21 (AMT)		No Opt. Call		A		1,334,338
	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		2,621,830

129

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	9,745	Sayre Healthcare Facility Authority, Pennsylvania, Revenue Bonds, Guthrie Healthcare System, Series 2007, 2.540%, 12/01/24 (3-Month LIBOR*67% reference rate + 0.78% spread) (8)		5/19 at 100.00		AA–	$	9,826,566
	4,585	Scranton, Lackawanna County, Pennsylvania, General Obligation Notes, Series 2016, 5.000%, 11/15/26		5/24 at 100.00		BB+		5,019,887
	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+		2,307,146
		Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc, Series 2013:
	1,400	5.000%, 12/01/19		No Opt. Call		A+		1,430,898
	730	5.000%, 12/01/20		No Opt. Call		A+		768,106
	1,105	5.000%, 12/01/21		No Opt. Call		A+		1,193,953
	1,625	5.000%, 12/01/22		No Opt. Call		A+		1,801,995
	1,705	5.000%, 12/01/23		6/23 at 100.00		A+		1,916,267
	1,795	5.000%, 12/01/24		6/23 at 100.00		A+		2,013,595
		Trinity Area School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2012:
	105	4.000%, 11/01/19 – AGM Insured (ETM)		No Opt. Call		A2 (4)		106,511
	60	4.000%, 11/01/19 – AGM Insured		No Opt. Call		A2		60,741
	3,435	Washington County Industrial Development Authority, Pennsylvania, College Revenue Bonds, AICUP Financing Program-Washington and Jefferson College Project, Series 2017-PP5, 3.375%, 11/01/36		11/27 at 100.00		A–		3,444,206
	348,680	Total Pennsylvania						369,630,895
		Puerto Rico – 0.6%
	25	Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44		5/19 at 100.00		Ca		25,094
		Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:
	1	0.000%, 7/01/24		No Opt. Call		N/R		841
	7,459	0.000%, 7/01/27		No Opt. Call		N/R		5,571,053
	15,557	0.000%, 7/01/29		7/28 at 98.64		N/R		10,334,826
	27,782	0.000%, 7/01/31		7/28 at 91.88		N/R		16,470,003
	15,565	0.000%, 7/01/33		7/28 at 86.60		N/R		8,279,490
	326	4.500%, 7/01/34		7/25 at 100.00		N/R		330,411
	66,715	Total Puerto Rico						41,011,718
		Rhode Island – 0.3%
	4,350	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		N/R (4)		5,056,005
	136,145	Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52		4/19 at 14.11		CCC+		14,056,971
	140,495	Total Rhode Island						19,112,976
		South Carolina – 0.9%
	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		A		6,439,782

130

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Carolina (continued)
		Lexington County Health Services District, Inc, South Carolina, Hospital Revenue Bonds, Lexington Medical Center, Series 2016:
$	1,000	5.000%, 11/01/34		5/26 at 100.00		A1	$	1,124,540
	1,170	5.000%, 11/01/35		5/26 at 100.00		A1		1,312,108
	6,550	Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 10/01/48 (Mandatory Put 2/01/24)		11/23 at 100.30		Aa2		7,081,729
		South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2012:
	7,500	5.000%, 11/01/27 (Pre-refunded 11/01/22)		11/22 at 100.00		A+ (4)		8,378,325
	1,275	5.000%, 11/01/29 (Pre-refunded 11/01/22)		11/22 at 100.00		A+ (4)		1,424,315
	1,850	South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2013, 5.000%, 11/01/20 (ETM)		No Opt. Call		A+ (4)		1,948,957
		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		2,042,382
	3,925	5.000%, 8/01/32		8/24 at 100.00		Baa3		4,136,597
		South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A:
	3,015	5.000%, 12/01/31		6/25 at 100.00		A+		3,409,030
	8,280	5.000%, 12/01/50		6/25 at 100.00		A+		9,107,586
		South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A:
	7,015	5.000%, 12/01/29		6/26 at 100.00		A+		8,144,415
	3,875	5.000%, 12/01/31		6/26 at 100.00		A+		4,456,017
	1,325	Spartanburg Regional Health Services District, Inc, South Carolina, Hospital Refunding Revenue Bonds, Series 2012A, 5.000%, 4/15/32		4/22 at 100.00		A		1,415,869
	54,460	Total South Carolina						60,421,652
		South Dakota – 0.1%
		South Dakota Building Authority, Revenue Bonds, Series 2013B:
	525	5.000%, 6/01/22		No Opt. Call		AA+		579,038
	1,000	5.000%, 6/01/24		6/23 at 100.00		AA+		1,131,200
	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		2,832,329
	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+		1,018,560
	3,000	South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2019A, 3.800%, 11/01/39		5/28 at 100.00		AAA		3,094,980
	7,935	Total South Dakota						8,656,107
		Tennessee – 1.9%
	2,265	Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		5/19 at 100.00		BBB+		2,273,562

131

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee (continued)
$	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		Baa2	$	2,547,808
	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		3,521,415
		Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc, Series 2017:
	3,250	5.000%, 4/01/29		4/27 at 100.00		BBB		3,698,142
	2,500	5.000%, 4/01/30		4/27 at 100.00		BBB		2,826,550
	2,725	5.000%, 4/01/31		4/27 at 100.00		BBB		3,062,764
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A:
	1,300	4.000%, 1/01/23		No Opt. Call		A+		1,398,319
	2,110	5.000%, 1/01/24		1/23 at 100.00		A+		2,347,143
		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+		1,479,534
	3,180	5.000%, 1/01/23		No Opt. Call		A+		3,534,983
		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		1,579,989
	1,560	5.250%, 4/01/24		4/21 at 100.00		AA		1,664,754
	1,240	5.250%, 4/01/25		4/21 at 100.00		AA		1,322,770
	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		4,518,777
		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		1,023,080
	1,860	5.250%, 11/01/25		11/19 at 100.00		AA		1,898,614
	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		Aa1		9,379,496
	1,200	Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2015-1C, 3.950%, 7/01/35		1/25 at 100.00		AA+		1,251,240
	5,265	Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2018-3, 3.750%, 7/01/38		7/27 at 100.00		AA+		5,461,121
	11,615	Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2018-4, 3.900%, 7/01/38		1/28 at 100.00		AA+		12,112,122
	10,000	Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-1, 3.750%, 7/01/39		7/28 at 100.00		AA+		10,380,500
	6,680	The Tennessee Energy Acquisition Corporation, Gas Project Revenue Bonds, Series 2018, 4.000%, 11/01/49 (Mandatory Put 11/01/25)		8/25 at 100.22		A3		7,211,528
	13,380	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/20		No Opt. Call		A		13,919,080
	27,240	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2017A, 4.000%, 5/01/48 (Mandatory Put 5/01/23)		5/23 at 100.43		A3		28,822,099
	119,660	Total Tennessee						127,235,390

132

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas – 6.4%
$	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+	$	1,250,159
	3,370	Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 1/01/33		1/23 at 100.00		A–		3,671,076
	3,445	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		A– (4)		3,716,087
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A:
	1,945	5.000%, 1/01/32		7/25 at 100.00		A–		2,213,780
	1,390	5.000%, 1/01/33		7/25 at 100.00		A–		1,575,412
	1,165	5.000%, 1/01/34		7/25 at 100.00		A–		1,316,963
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016:
	2,000	5.000%, 1/01/33		1/26 at 100.00		A–		2,283,640
	1,650	5.000%, 1/01/35		1/26 at 100.00		A–		1,873,971
	865	Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 3.750%, 8/15/22		No Opt. Call		BBB+		885,535
		Conroe Independent School District, Montgomery County, Texas, General Obligation Bonds, Refunding School Building Series 2012:
	5,200	5.000%, 2/15/26 (Pre-refunded 2/15/21)		2/21 at 100.00		Aaa		5,538,156
	2,800	5.000%, 2/15/26		2/21 at 100.00		AAA		2,970,856
	5,500	Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Senior Lien Refunding Series 2019, 5.000%, 12/01/28 (WI/DD, Settling 4/09/19)		No Opt. Call		AA+		6,954,035
		Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding & Improvement Series 2016:
	10,000	1.350%, 11/01/20 (AMT) , 144A		No Opt. Call		A+		9,859,300
	20,000	1.600%, 11/01/21 (AMT) , 144A		No Opt. Call		A+		19,667,000
	9,295	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B, 5.000%, 11/01/35		11/20 at 100.00		A+		9,749,340
		Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, School Building Series 2009:
	1,545	4.550%, 2/15/25 (Pre-refunded 8/15/19)		8/19 at 100.00		N/R (4)		1,561,794
	455	4.550%, 2/15/25		8/19 at 100.00		AA+		459,982
	11,750	Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Bond Anticipation Note Series 2014A, 5.000%, 2/01/23		No Opt. Call		A+		13,112,060
	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+		8,013,090
		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–		906,684
	550	4.000%, 3/01/22		3/21 at 100.00		A–		569,685
	800	4.000%, 3/01/23		3/21 at 100.00		A–		827,712
	440	4.250%, 3/01/25		3/21 at 100.00		A–		458,361
		Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Refunding Series 2013A:
	1,825	5.000%, 12/01/23		12/22 at 100.00		A+		2,029,948
	18,000	4.000%, 12/01/31		12/22 at 100.00		A+		18,871,740

133

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		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+	$	6,030,052
	4,025	5.000%, 12/01/27		12/24 at 100.00		A+		4,635,431
	3,000	5.000%, 12/01/28		12/24 at 100.00		A+		3,446,370
	6,115	5.000%, 12/01/29		12/24 at 100.00		A+		6,989,812
	5,045	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		5,940,639
	3,015	Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, St Luke’s Episcopal Hospital, Series 1991A, 6.750%, 2/15/21 (ETM)		6/19 at 100.00		AA+ (4)		3,070,205
		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		AAA (4)		5,225,216
	5,385	5.000%, 11/01/23 (Pre-refunded 11/01/19)		11/19 at 100.00		AAA (4)		5,495,662
	5,660	5.000%, 11/01/24 (Pre-refunded 11/01/19)		11/19 at 100.00		AAA (4)		5,776,313
	2,320	Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0054, 11.017%, 11/01/41 (IF) (5)		11/21 at 100.00		AAA		2,835,086
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C:
	285	5.000%, 11/15/22		No Opt. Call		A3		313,902
	425	5.000%, 11/15/23		No Opt. Call		A3		477,602
		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		5,592,121
	4,590	5.000%, 11/15/25 – AGM Insured		11/24 at 100.00		AA		5,302,689
	4,095	5.000%, 11/15/26 – AGM Insured		11/24 at 100.00		AA		4,712,485
	12,040	5.000%, 11/15/27 – AGM Insured		11/24 at 100.00		AA		13,807,713
		Harrison County Health Facilities Development Corporation, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010:
	2,270	5.000%, 7/01/19 (ETM)		No Opt. Call		N/R (4)		2,288,728
	2,380	5.000%, 7/01/20 (ETM)		No Opt. Call		N/R (4)		2,479,175
	5,240	Houston Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Limited Tax Schoolhouse Series 2013A, 4.000%, 2/15/31		2/23 at 100.00		AAA		5,566,242
	11,815	Houston Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Schoolhouse Series 2016A, 4.000%, 2/15/34		2/26 at 100.00		AAA		12,855,901
		Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011B:
	1,900	5.000%, 7/01/25		7/21 at 100.00		A+		2,040,809
	2,025	5.000%, 7/01/26		7/21 at 100.00		A+		2,171,347
		Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2012B:
	18,675	5.000%, 7/01/31		7/22 at 100.00		A+		20,366,581
	5,000	5.000%, 7/01/32		7/22 at 100.00		A+		5,444,700
	2,440	Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (AMT)		7/24 at 100.00		BB		2,696,615

134

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
		Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2018D:
$	3,000	5.000%, 11/15/32		11/28 at 100.00		Aa2	$	3,674,640
	2,570	5.000%, 11/15/33		11/28 at 100.00		Aa2		3,136,171
	6,000	Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2017A, 5.000%, 3/01/22		No Opt. Call		AA		6,569,100
		Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:
	8,005	0.000%, 9/01/22 – AMBAC Insured		No Opt. Call		A		7,476,110
	3,815	0.000%, 9/01/23 – AMBAC Insured		No Opt. Call		A		3,472,756
	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–		2,272,840
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015:
	1,000	5.000%, 11/01/26 (AMT)		11/25 at 100.00		A1		1,174,860
	2,025	5.000%, 11/01/27 (AMT)		11/25 at 100.00		A1		2,368,258
	1,570	5.000%, 11/01/28 (AMT)		11/25 at 100.00		A1		1,827,778
	2,000	5.000%, 11/01/29 (AMT)		11/25 at 100.00		A1		2,317,780
	2,000	5.000%, 11/01/30 (AMT)		11/25 at 100.00		A1		2,307,240
	1,800	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		1,874,718
	10,000	Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2009, 5.500%, 5/15/36		5/19 at 100.00		A1		10,047,700
		Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2018:
	2,135	5.000%, 5/15/21		No Opt. Call		A+		2,284,984
	1,845	5.000%, 5/15/22		No Opt. Call		A+		2,032,360
		McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:
	3,045	5.000%, 12/01/25		No Opt. Call		B1		3,291,523
	2,720	5.250%, 12/01/28		12/25 at 100.00		B1		2,922,667
	2,700	Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31 (AMT), 144A		10/21 at 105.00		BB–		2,808,378
		North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children’s Medical Center Dallas Project, Series 2012:
	4,380	5.000%, 8/15/24 (Pre-refunded 8/15/22)		8/22 at 100.00		Aa2 (4)		4,871,086
	4,720	5.000%, 8/15/25 (Pre-refunded 8/15/22)		8/22 at 100.00		Aa2 (4)		5,249,206
	3,945	5.000%, 8/15/26 (Pre-refunded 8/15/22)		8/22 at 100.00		Aa2 (4)		4,387,313
	7,025	5.000%, 8/15/27 (Pre-refunded 8/15/22)		8/22 at 100.00		Aa2 (4)		7,812,643
		North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:
	3,855	0.000%, 9/01/43 (Pre-refunded 9/01/31) (6)		9/31 at 100.00		N/R (4)		4,516,595
	9,130	0.000%, 9/01/45 (Pre-refunded 9/01/31) (6)		9/31 at 100.00		N/R (4)		11,671,427
		North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D:
	8,655	5.250%, 9/01/25 (Pre-refunded 9/01/21)		9/21 at 100.00		N/R (4)		9,404,263
	5,040	5.250%, 9/01/26 (Pre-refunded 9/01/21)		9/21 at 100.00		N/R (4)		5,476,313

135

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	870	Sunnyvale School District, Texas, General Obligation Bonds, School Building Series 2007, 4.400%, 2/15/20		5/19 at 100.00		AAA	$	871,871
	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–		5,180,561
	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		1,431,888
	3,000	Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2018A, 4.125%, 9/01/38		9/27 at 100.00		AA+		3,147,210
	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		5,357,450
	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 (AMT)		12/25 at 100.00		Baa3		5,196,690
	3,250	Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2014A, 5.000%, 10/01/22		No Opt. Call		AAA		3,626,285
	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+		18,115,500
		Texas Transportation Commission, State Highway 249 System Revenue Bonds, First Tier Toll Series 2019A:
	1,125	0.000%, 8/01/35		2/29 at 76.82		Baa3		586,136
	1,590	0.000%, 8/01/36		2/29 at 73.16		Baa3		783,616
	2,070	0.000%, 8/01/37		2/29 at 69.41		Baa3		959,900
	1,100	0.000%, 8/01/39		2/29 at 62.63		Baa3		455,356
		Val Verde County, Texas, Pass-Through Toll Revenue and Limited Tax Bonds, Series 2011:
	2,900	4.000%, 8/15/19		No Opt. Call		A		2,924,186
	3,015	4.000%, 8/15/20		No Opt. Call		A		3,107,591
	3,135	4.000%, 8/15/21		No Opt. Call		A		3,254,976
	8,830	Williamson County, Texas, General Obligation Bonds, Limited Tax Refunding Series 2012, 5.000%, 2/15/26		2/22 at 100.00		AAA		9,652,691
	404,205	Total Texas						435,798,378
		Utah – 0.2%
	6,345	Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc, Series 2009, 5.000%, 8/15/41 (Pre-refunded 8/15/19)		8/19 at 100.00		AA+ (4)		6,426,851
		Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A:
	3,340	5.000%, 9/01/23 (Pre-refunded 9/01/22)		9/22 at 100.00		A (4)		3,713,412
	2,000	5.000%, 9/01/25 (Pre-refunded 9/01/22)		9/22 at 100.00		A (4)		2,223,600
	2,265	5.000%, 9/01/26 (Pre-refunded 9/01/22)		9/22 at 100.00		A (4)		2,518,227
	13,950	Total Utah						14,882,090
		Virginia – 1.4%
	10,755	Fairfax County, Virginia, General Obligation Bonds, Refunding Public Improvement Series 2016A, 4.000%, 10/01/19		No Opt. Call		AAA		10,889,868
	10,000	King George County Industrial Development Authority, Virginia, Solid Waste Disposal Revenue Bonds, King George Landfill, Inc Project, Variable Rate Demand Series 2003A, 2.500%, 6/01/23 (AMT)		No Opt. Call		A–		10,000,900

136

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia (continued)
$	9,785	Loudoun County Economic Development Authority, Virginia, Lease Revenue Bonds, Metrorail Service District Improvement Silver Line Phase 2 Project, Series 2018, 2.000%, 4/01/22		4/20 at 100.00		AA+	$	9,799,090
	1,730	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		1,663,827
	760	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		790,620
	1,185	Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2016, 3.125%, 6/15/31		6/26 at 100.00		A–		1,199,102
	710	Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Refunding Series 2015A, 5.000%, 7/01/45, 144A		7/25 at 100.00		BB+		741,276
	39,100	Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, 5.000%, 12/31/52 (AMT)		6/27 at 100.00		BBB		42,768,362
	6,835	Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (AMT)		7/22 at 100.00		BBB		7,344,276
	8,650	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		BBB+		8,677,593
	89,510	Total Virginia						93,874,914
		Washington – 1.1%
	2,900	Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2016, 5.000%, 2/01/29		2/26 at 100.00		AA–		3,426,408
	2,340	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		2,572,713
	6,000	Snohomish County School District 2, Everett, Washington, General Obligation Bonds, Series 2018, 5.000%, 12/01/19		No Opt. Call		AA+		6,138,060
	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+		6,303,600
		Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2015:
	2,730	5.000%, 1/01/26		7/25 at 100.00		A+		3,190,851
	1,285	5.000%, 1/01/27		7/25 at 100.00		A+		1,494,571
		Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A:
	1,295	5.000%, 11/15/22		No Opt. Call		AA–		1,442,617
	2,035	5.000%, 11/15/24		5/24 at 100.00		AA–		2,331,540
		Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B:
	4,015	5.000%, 10/01/30		10/28 at 100.00		AA–		4,902,676
	2,780	5.000%, 10/01/31		10/28 at 100.00		AA–		3,365,412
	3,010	5.000%, 10/01/32		10/28 at 100.00		AA–		3,618,502
	2,600	5.000%, 10/01/33		10/28 at 100.00		AA–		3,109,340

137

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
		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	$	5,897,216
	5,000	5.000%, 8/15/34		8/27 at 100.00		BBB		5,596,400
	5,765	5.000%, 8/15/36		8/27 at 100.00		BBB		6,393,039
		Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009:
	1,845	6.250%, 7/01/24 (Pre-refunded 7/01/19)		7/19 at 100.00		N/R (4)		1,866,015
	1,330	6.250%, 7/01/24		7/19 at 100.00		Baa1		1,343,034
	2,000	6.750%, 7/01/29 (Pre-refunded 7/01/19)		7/19 at 100.00		Baa1 (4)		2,025,180
	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)		3,306,518
	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		4,736,191
	65,715	Total Washington						73,059,883
		West Virginia – 0.5%
	5,120	West Virginia Economic Development Authority, Energy Revenue Bonds, Morgantown Energy Associates Project, Refunding Series 2016, 2.875%, 12/15/26 (AMT)		No Opt. Call		Baa3		5,032,397
	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) (AMT)		No Opt. Call		A–		10,296,244
	6,000	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Seriess 2009A, 2.625%, 12/01/42 (Mandatory Put 6/01/22)		No Opt. Call		A–		6,099,540
	6,000	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Seriess 2009B, 2.625%, 12/01/42 (Mandatory Put 6/01/22)		No Opt. Call		A–		6,099,540
	4,830	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Wheeling Power Company – Mitchell Project, Series 2013A, 3.000%, 6/01/37 (Mandatory Put 4/01/22) (AMT)		No Opt. Call		A–		4,876,996
	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		1,135,754
	33,300	Total West Virginia						33,540,471
		Wisconsin – 2.8%
	24,400	Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 6.500%, 12/01/37, 144A		12/27 at 100.00		N/R		28,170,532
		Public Finance Authority of Wisconsin, Revenue Bonds, Denver international Airport Great Hall Project, Series 2017:
	2,000	5.000%, 9/30/37 (AMT)		9/27 at 100.00		BBB		2,256,180
	14,705	5.000%, 9/30/49 (AMT)		9/27 at 100.00		BBB		16,295,052
	5,500	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Refunding Series 2016A-1, 2.625%, 11/01/25 (AMT)		No Opt. Call		A–		5,525,740

138

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
$	7,770	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Refunding Series 2016A – 2, 2.875%, 5/01/27 (AMT)		5/26 at 100.00		A–	$	7,848,555
	4,420	Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A, 4.000%, 6/15/28, 144A		6/26 at 100.00		BBB–		4,579,385
		University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Refunding Series 2013A:
	335	5.000%, 4/01/20		No Opt. Call		AA–		346,189
	470	5.000%, 4/01/22		No Opt. Call		AA–		514,650
		Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A:
	780	5.000%, 12/01/26		11/24 at 100.00		AA–		900,424
	3,950	5.000%, 12/01/27		11/24 at 100.00		AA–		4,544,119
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc, Series 2012A:
	1,020	5.000%, 7/15/25 (Pre-refunded 7/15/21)		7/21 at 100.00		AA (4)		1,099,193
	14,400	5.000%, 7/15/27 – AGM Insured (Pre-refunded 7/15/21)		7/21 at 100.00		AA (4)		15,518,016
	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		N/R (4)		2,165,039
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Childrens Hospital of Wisconsin Inc, Series 2008B:
	1,455	4.350%, 8/15/19 (ETM)		No Opt. Call		N/R (4)		1,470,190
	8,670	5.500%, 8/15/29 (Pre-refunded 2/15/20)		2/20 at 100.00		Aa3 (4)		8,963,653
	5,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic Health System, Inc, Series 2017C, 5.000%, 2/15/47		2/27 at 100.00		A–		5,524,100
	1,000	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B, 5.000%, 2/15/40		2/22 at 100.00		A–		1,044,440
	420	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc, Series 2010A, 5.000%, 6/01/19		No Opt. Call		A3		422,062
	2,715	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc, Series 1992A, 6.000%, 12/01/22 – FGIC Insured		No Opt. Call		A1		2,887,484
	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)		1,970,925
	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+		4,800,452
	2,850	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Saint John’s Communities Inc, Series 2018A, 5.000%, 9/15/40		9/23 at 100.00		BBB–		2,966,309
		Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare Inc, Series 2015:
	825	5.000%, 12/15/23		No Opt. Call		AA–		940,211
	1,310	5.000%, 12/15/25		12/24 at 100.00		AA–		1,522,770

139

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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:
$	8,145	6.000%, 5/01/27		5/19 at 100.00				Aa2 (4)	$	8,174,648
	855	6.000%, 5/01/27 (Pre-refunded 5/01/19)		5/19 at 100.00				N/R (4)		858,112
	4,740	5.750%, 5/01/33 (Pre-refunded 5/01/19)		5/19 at 100.00				Aa2 (4)		4,756,306
	495	5.750%, 5/01/33 (Pre-refunded 5/01/19)		5/19 at 100.00				N/R (4)		496,703
	1,805	6.000%, 5/01/33 (Pre-refunded 5/01/19)		5/19 at 100.00				Aa2 (4)		1,811,570
	260	6.000%, 5/01/33 (Pre-refunded 5/01/19)		5/19 at 100.00				N/R (4)		260,946
	35,170	6.000%, 5/01/36 (Pre-refunded 5/01/19)		5/19 at 100.00				Aa2 (4)		35,298,019
		Wisconsin State, General Obligation Bonds, Refunding Series 2014-2:
	85	5.000%, 5/01/24 (Pre-refunded 5/01/22)		5/22 at 100.00				N/R (4)		93,652
	5,785	5.000%, 5/01/24		5/22 at 100.00				Aa1		6,369,169
		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)		1,119,657
	3,355	5.000%, 7/01/25 (Pre-refunded 7/01/19)		7/19 at 100.00				AA+ (4)		3,384,189
	4,000	5.000%, 7/01/26 (Pre-refunded 7/01/19)		7/19 at 100.00				AA+ (4)		4,034,800
	178,000	Total Wisconsin								188,933,441
		Wyoming – 0.2%
	5,500	Sweetwater County, Wyoming, Hospital Revenue Bonds, Memorial Hospital Project, Refunding Series 2013A, 5.000%, 9/01/30		9/23 at 100.00				BB+		5,842,100
	6,960	Wyoming Community Development Authority, Housing Revenue Bonds, 2015 Series 6, 3.900%, 12/01/34		12/24 at 100.00				AA+		7,244,942
	12,460	Total Wyoming								13,087,042
$	6,435,908	Total Municipal Bonds (cost $6,299,980,628)								6,550,593,054
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (3)		Value
		CORPORATE BONDS – 0.0%
		Transportation – 0.0%
$	200	Las Vegas Monorail Company, Senior Interest Bonds (9), (10)		5.500%		7/15/19		N/R	$	133,243
	57	Las Vegas Monorail Company, Senior Interest Bonds (9), (10)		5.500%		7/15/55		N/R		28,227
$	257	Total Corporate Bonds (cost $10,984)								161,470
		Total Long-Term Investments (cost $6,299,991,612)								6,550,754,524
Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 2.1%
		MUNICIPAL BONDS – 2.1%
		National – 0.2%
$	14,810	BB&T Municipal Trust Pool Tax Exempt Lease Certificates Class C Series 2018, Variable Rate Demand Obligations, 2.920%, 11/01/21 (SIFMA reference rate + 0.80% spread), 144A (8), (11)		No Opt. Call				A+	$	14,810,000
	1,165	BB&T Municipal Trust Pool Tax Exempt Lease Certificates Class D Series 2018, Variable Rate Demand Obligations, 3.120%, 7/31/23 (SIFMA reference rate + 1.00% spread), 144A (8), (11)		No Opt. Call				A+		1,165,000
	15,975	Total National								15,975,000

140

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida – 0.8%
$	49,150	Miami-Dade County School Board, Florida, Certificates of Participation, Variable Rate Demand Obligations, 1.730%, 5/01/37 (11)		6/19 at 100.00		N/R	$	49,150,000
	4,195	Miami-Dade County School Board, Florida, Certificates of Participation, Variable Rate Demand Obligations, Series 2013, 0.000%, 5/01/31, 144A (11)		No Opt. Call		A-2		4,195,000
	53,345	Total Florida						53,345,000
		New Jersey – 0.0%
	4,520	New Jersey Turnpike Authority, Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Floater Series 2017-ZM0566, 0.000%, 1/01/37 (11)		1/28 at 100.00		A+		4,520,000
		New York – 0.7%
	16,800	New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Variable Rate Demand Obligations, Fiscal 2017 Adjustable Rate Series BB-1, 1.800%, 6/15/49 (11)		5/19 at 100.00		VMIG-1		16,800,000
	29,925	New York City, New York, General Obligation Bonds, Variable Rate Demand Obligations, Fiscal 2018 Series B-5, 0.000%, 10/01/46 (11)		6/19 at 100.00		VMIG-1		29,925,000
	46,725	Total New York						46,725,000
		Ohio – 0.1%
	5,300	Ohio State University, General Receipts Bonds, Variable Rate Demand Obligations, Series 2014B-2, 2.050%, 12/01/44 (11)		7/19 at 100.00		VMIG-1		5,300,000
		Pennsylvania – 0.0%
	2,190	Emmaus General Authority, Pennsylvania, Variable Rate Demand Obligations, Series 1996, 2.130%, 12/01/28 – AGM Insured (11)		7/19 at 100.00		AA		2,190,000
		Texas – 0.1%
	7,820	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien, Variable Rate Demand Obligations, Series 2010, 2.110%, 7/01/30 (11)		6/30 at 100.00		AA+		7,820,000
		Utah – 0.2%
	12,470	Murray City, Utah, Hospital Revenue Bonds, Variable Rate Demand Obligations, IHC Health Services, Inc, Series 2005D, 1.850%, 5/15/37 (11)		5/19 at 100.00		VMIG-1		12,470,000
$	148,345	Total Short-Term Investments (cost $148,345,000)						148,345,000
		Total Investments (cost $6,448,336,612) – 98.0%						6,699,099,524
		Other Assets Less Liabilities – 2.0%						133,681,795
		Net Assets – 100%					$	6,832,781,319

141

Nuveen Intermediate Duration Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

(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. Optional Call Provisions are not covered by the report of independent registered public accounting firm.

(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. Ratings are not covered by the report of independent registered public accounting firm.

(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.

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

(6) 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.

(7) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.

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

(9) The tax-exempt municipal bonds previously held by the Fund were surrendered in conjunction with the issuer’s bankruptcy reorganization plan. In return, the Fund received one or more senior interest corporate bonds.

(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, as well as the reference rate and spread, where applicable, 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.

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.

AMT Alternative Minimum Tax

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

SIFMA Securities Industry and Financial Market Association

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

See accompanying notes to financial statements.

142

Nuveen Limited Term Municipal Bond Fund

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 97.3%
		MUNICIPAL BONDS – 97.3%
		Alabama – 2.6%
$	9,790	Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 3 Series 2018A, 4.000%, 12/01/48 (Mandatory Put 12/01/23)		9/23 at 100.31		A3	$	10,430,560
	32,945	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016, 4.000%, 7/01/46 (Mandatory Put 6/01/21)		3/21 at 100.59		Aa2		34,299,369
	37,075	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47 (Mandatory Put 7/01/22)		4/22 at 100.52		Aa2		39,306,915
	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		A1		5,962,560
	23,435	Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Variable Rate Demand Obligations, Series 2008, 2.900%, 7/15/34 (Mandatory Put 12/12/23)		No Opt. Call		A–		24,078,525
	19,970	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 2, Fixed Rate Series 2018A, 4.000%, 6/01/49 (Mandatory Put 6/01/24)		3/24 at 100.29		A3		21,483,526
	129,215	Total Alabama						135,561,455
		Alaska – 0.4%
	4,575	Alaska Industrial Development and Export Authority, Loan Anticipation Revenue Notes, YKHC Project, Series 2017, 3.500%, 12/01/20		12/19 at 100.00		N/R		4,608,763
		Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015:
	1,655	5.000%, 1/01/24 (AMT)		No Opt. Call		Baa2		1,802,659
	3,565	5.000%, 1/01/26 (AMT)		7/25 at 100.00		Baa2		3,940,466
	1,360	Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/19		No Opt. Call		A1		1,360,000
		Anchorage, Alaska, General Obligation Bonds, Schools Series 2013A:
	1,710	5.000%, 8/01/21		No Opt. Call		AAA		1,846,184
	1,795	5.000%, 8/01/22		No Opt. Call		AAA		1,993,958
	940	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 4.625%, 6/01/23		4/19 at 100.00		A3		940,235
	3,645	Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc Project, Refunding Series 2003C, 5.000%, 1/01/21		No Opt. Call		A1		3,843,981
	19,245	Total Alaska						20,336,246
		Arizona – 2.2%
		Arizona State, Certificates of Participation, Refunding Series 2019A:
	4,430	5.000%, 10/01/26 (WI/DD, Settling 7/09/19)		No Opt. Call		Aa3		5,274,358
	4,430	5.000%, 10/01/27 (WI/DD, Settling 7/09/19)		No Opt. Call		Aa3		5,354,984
	2,975	Arizona State, Certificates of Participation, Series 2010A, 5.000%, 10/01/19 – AGM Insured		No Opt. Call		AA		3,025,783

143

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	120	Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/20 – AGM Insured		No Opt. Call		AA+	$	125,183
	16,775	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2005, 2.400%, 12/01/35 (Mandatory Put 8/14/23)		No Opt. Call		A+		17,040,716
	1,625	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2007, 2.700%, 12/01/37 (Mandatory Put 8/14/23) (AMT)		No Opt. Call		A+		1,653,941
	1,500	Chandler, Arizona, General Obligation Bonds, Refunding Series 2014, 5.000%, 7/01/24		No Opt. Call		AAA		1,753,320
	2,220	Coconino County, Arizona, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding AMT Series 2017A, 1.800%, 9/01/32 (Mandatory Put 5/21/20) (AMT)		No Opt. Call		A+		2,214,517
	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+		1,194,360
		Dysart Unified School District Number 89, Maricopa County, Arizona, General Obligation Bonds, Refunding Series 2014:
	335	5.000%, 7/01/19		No Opt. Call		AAA		337,814
	575	5.000%, 7/01/20		No Opt. Call		AAA		599,104
	765	5.000%, 7/01/21		No Opt. Call		AAA		821,166
	14,500	Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019B, 5.000%, 9/01/45 (Mandatory Put 9/01/24)		No Opt. Call		A2		16,589,160
	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+		11,018,700
		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		503,010
	575	4.000%, 7/01/20 – AGM Insured		No Opt. Call		AA		592,250
	1,565	4.000%, 7/01/21 – AGM Insured		No Opt. Call		AA		1,645,535
	750	4.000%, 7/01/22 – AGM Insured		No Opt. Call		AA		804,285
	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		Aa3		1,406,017
		Mesa, Arizona, General Obligation Bonds, Refunding Series 2012:
	1,425	4.000%, 7/01/20		No Opt. Call		Aa2		1,468,833
	2,225	4.000%, 7/01/21		No Opt. Call		Aa2		2,344,549
	2,055	4.000%, 7/01/22		No Opt. Call		Aa2		2,209,824
		Mesa, Arizona, Street and Highway User Revenue Bonds, Refunding Series 2012:
	2,415	5.000%, 7/01/21		No Opt. Call		AA		2,595,087
	4,030	5.000%, 7/01/22		No Opt. Call		AA		4,457,905
	3,615	Mesa, Arizona, Street and Highway User Revenue Bonds, Refunding Series 2015, 5.000%, 7/01/26		7/25 at 100.00		AA		4,287,824
		Mesa, Arizona, Utility System Revenue Bonds, Refunding Series 2012:
	5,370	5.000%, 7/01/20		No Opt. Call		Aa2		5,601,232
	6,115	5.000%, 7/01/21		No Opt. Call		Aa2		6,575,215

144

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Arizona (continued)
$	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–	$	308,700
		Pinal County, Arizona, Pledged Revenue Obligations, Refunding Series 2014:
	1,305	5.000%, 8/01/22		No Opt. Call		AA		1,446,501
	2,000	5.000%, 8/01/23		No Opt. Call		AA		2,273,700
	2,000	5.000%, 8/01/24		No Opt. Call		AA		2,324,620
	1,000	Pinal County, Arizona, Pledged Revenue Obligations, Series 2014, 5.000%, 8/01/24		No Opt. Call		AA		1,162,310
	6,665	The Industrial Development Authority of the County of Maricopa, Arizona, Revenue Bonds, Banner Health, Series 2017C, 5.000%, 1/01/48 (Mandatory Put 10/18/24)		No Opt. Call		AA–		7,737,798
	107,625	Total Arizona						116,748,301
		Arkansas – 0.5%
	8,605	Arkansas State, Federal Highway Grant Anticipation and Tax Revenue Bonds, Series 2013, 5.000%, 10/01/22		No Opt. Call		Aa1		9,607,482
		Crittenden County, Arkansas, Sales and Use Tax Revenue Bonds, Series 2017:
	1,200	5.000%, 3/01/20		No Opt. Call		A		1,235,076
	1,400	5.000%, 3/01/21		No Opt. Call		A		1,484,434
		Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014:
	500	5.000%, 7/01/19		No Opt. Call		A+		504,150
	670	5.000%, 7/01/21		No Opt. Call		A+		717,041
		Pulaksi County Public Facilities Board, Arkansas, Health Facilities Revenue Bonds, CARTI Project, Series 2013:
	890	4.000%, 7/01/19		No Opt. Call		BB+		891,282
	995	4.000%, 7/01/20		No Opt. Call		BB+		1,002,880
	1,020	4.000%, 7/01/21		No Opt. Call		BB+		1,033,382
	1,075	4.000%, 7/01/22		No Opt. Call		BB+		1,089,050
	1,180	5.250%, 7/01/27		7/23 at 100.00		BB+		1,205,264
	470	5.250%, 7/01/28		7/23 at 100.00		BB+		479,818
		Pulaski County Public Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 2014:
	500	5.000%, 12/01/22		No Opt. Call		A+		555,960
	1,740	5.000%, 12/01/23		No Opt. Call		A+		1,980,364
	2,110	5.000%, 12/01/24		No Opt. Call		A+		2,453,255
	22,355	Total Arkansas						24,239,438
		California – 3.0%
	17,400	Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Term Rate Series 2018A, 2.625%, 4/01/45 (Mandatory Put 4/01/26)		10/25 at 100.00		AA		18,207,534
	7,965	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–		8,041,145
	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–		4,075,120
	19,790	California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 3.000%, 12/31/30 – AGM Insured (AMT)		6/28 at 100.00		AA		19,775,949

145

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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–	$	1,701,202
	2,600	5.000%, 2/01/23		No Opt. Call		A–		2,899,338
	1,920	5.000%, 2/01/24		No Opt. Call		A–		2,190,797
	1,700	5.000%, 2/01/25		No Opt. Call		A–		1,979,208
	2,000	5.000%, 2/01/26		No Opt. Call		A–		2,371,620
	1,500	5.000%, 2/01/27		No Opt. Call		A–		1,806,390
	5,000	California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Series 2017A, 2.000%, 12/01/44 (Mandatory Put 12/01/20) (AMT)		No Opt. Call		A–		5,006,100
	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) (AMT)		No Opt. Call		A–		3,522,819
	5,875	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Series 2015A-1, 3.375%, 7/01/25 (AMT)		No Opt. Call		A–		6,169,866
	6,440	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management, Inc Project, Refunding Series 2015B-1, 3.000%, 11/01/25 (AMT)		No Opt. Call		A–		6,615,619
		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		AA+ (4)		262,506
	125	5.250%, 7/01/21 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		126,205
	16,995	California Statewide Communities Development Authority, Health Facility Revenue Bonds, Community Hospital of the Monterey Peninsula, Series 2012A, 1.870%, 6/01/23		5/19 at 100.00		N/R		17,003,837
	765	California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/24		No Opt. Call		A–		885,021
		Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012:
	2,470	5.000%, 1/01/20		No Opt. Call		BBB		2,509,248
	2,590	5.000%, 1/01/21		No Opt. Call		BBB		2,680,184
	2,900	Freddie Mac Multifamily ML Certificates, 3.400%, 1/25/36		No Opt. Call		AA+		3,005,937
	7,000	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 3.500%, 6/01/36		6/22 at 100.00		BBB		7,020,720
	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		534,070
	5,010	Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2018B, 5.000%, 1/01/22		12/21 at 100.00		AA		5,494,267
	2,765	Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2013B, 5.000%, 7/01/22		No Opt. Call		AA+		3,088,394
	4,375	Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2008 Series 2016A, 4.000%, 7/01/34		7/25 at 100.00		AAA		4,739,656
	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		3,180,357

146

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California (continued)
		Newport-Mesa Unified School District, Orange County, California, General Obligation Bonds, Election 2000 Refunding Series 2020:
$	1,900	5.000%, 8/01/22 (WI/DD, Settling 5/05/20)		No Opt. Call		Aaa	$	2,031,024
	2,500	5.000%, 8/01/23 (WI/DD, Settling 5/05/20)		No Opt. Call		Aaa		2,744,125
	2,960	Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21 (Pre-refunded 11/01/20)		11/20 at 100.00		Ba1 (4)		3,082,041
	80	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		89,610
	6,340	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2017D, 5.000%, 5/01/25 (AMT)		No Opt. Call		A+		7,477,840
	3,545	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		4,200,541
		Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A:
	1,315	5.000%, 7/01/19		No Opt. Call		Baa1		1,324,718
	1,225	4.000%, 7/01/20		No Opt. Call		Baa1		1,255,417
	1,130	5.000%, 7/01/22		No Opt. Call		Baa1		1,235,339
	980	5.000%, 7/01/23		No Opt. Call		Baa1		1,091,740
	151,550	Total California						159,425,504
		Colorado – 1.6%
	2,750	Broomfield, Colorado, Sewer Activity Enterprise, Sewer and Wastewater Reclamation Revenue Bonds, Refunding Series 2012, 4.000%, 12/01/20		No Opt. Call		Aa3		2,860,192
		Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017:
	765	5.000%, 12/01/20, 144A		No Opt. Call		N/R		793,665
	1,000	5.000%, 12/01/21, 144A		No Opt. Call		N/R		1,055,270
	1,425	5.000%, 12/01/22, 144A		No Opt. Call		N/R		1,524,152
	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		A–		1,032,530
	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		8,373,336
	3,025	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		5/19 at 100.00		BBB+		3,036,434
	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+		18,158,667
		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A:
	5,205	5.000%, 2/01/20		No Opt. Call		BBB+		5,335,021
	4,830	5.000%, 2/01/21		No Opt. Call		BBB+		5,087,342

147

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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:
$	500	4.000%, 6/01/19		No Opt. Call		A–	$	501,620
	1,000	4.000%, 6/01/20		No Opt. Call		A–		1,021,110
	2,000	5.000%, 6/01/21		No Opt. Call		A–		2,116,560
	2,300	5.000%, 6/01/22		No Opt. Call		A–		2,490,785
	500	5.000%, 6/01/23		No Opt. Call		A–		552,235
	250	Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2014, 2.000%, 8/01/19 – AGM Insured		No Opt. Call		AA		250,268
		Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A:
	294	3.500%, 12/01/21		No Opt. Call		N/R		298,075
	530	4.500%, 12/01/27		12/22 at 103.00		N/R		550,368
	1,500	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/19		No Opt. Call		A+		1,531,845
	13,090	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A, 5.000%, 12/01/24 (AMT)		No Opt. Call		A+		15,188,981
		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Refunding Series 2015A:
	1,060	5.000%, 9/01/19		No Opt. Call		A		1,073,367
	1,175	5.000%, 9/01/20		No Opt. Call		A		1,222,376
		Gardens on Havana Metropolitan District 3, Arapahoe County, Colorado, Special Revenue Bonds, Refunding Series 2017A:
	1,765	3.625%, 12/01/21		No Opt. Call		N/R		1,798,041
	3,705	4.625%, 12/01/27		12/22 at 103.00		N/R		3,858,943
	5,715	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		5,654,935
	79,604	Total Colorado						85,366,118
		Connecticut – 3.9%
	12,000	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2013A, 1.000%, 7/01/42 (Mandatory Put 7/01/19)		No Opt. Call		AAA		11,980,680
	6,925	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2015A, 2.050%, 7/01/35 (Mandatory Put 7/12/21)		No Opt. Call		AAA		6,996,328
	20,260	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		20,227,381
	5,650	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		6,248,053
	22,150	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2017B, 5.000%, 7/01/37 (Mandatory Put 7/01/20)		No Opt. Call		AAA		23,072,990
	44,435	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Series 1999-U2, 2.000%, 7/01/33 (Mandatory Put 2/08/22)		No Opt. Call		AAA		44,889,570
	42,630	Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2010A-4, 2.000%, 7/01/49 (Mandatory Put 2/08/22)		No Opt. Call		AAA		43,112,998

148

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Connecticut (continued)
$	1,955	Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018D-1, 3.750%, 11/15/33		11/27 at 100.00		AAA	$	2,049,055
		Connecticut State, General Obligation Bonds, Refunding Series 2018B:
	5,220	5.000%, 4/15/21		No Opt. Call		A1		5,553,506
	7,115	5.000%, 4/15/22		No Opt. Call		A1		7,770,505
		Connecticut State, General Obligation Bonds, Refunding Series 2018C:
	8,000	3.000%, 6/15/19		No Opt. Call		A1		8,021,920
	1,320	5.000%, 6/15/22		No Opt. Call		A1		1,447,921
		Connecticut State, General Obligation Bonds, Refunding Series 2018F:
	1,025	5.000%, 9/15/20		No Opt. Call		A1		1,073,780
	600	5.000%, 9/15/21		No Opt. Call		A1		645,840
	490	Connecticut State, General Obligation Bonds, Series 2013C, 5.000%, 7/15/22		No Opt. Call		A1		538,652
	1,835	Connecticut State, General Obligation Bonds, Series 2019A, 5.000%, 4/15/23 (WI/DD, Settling 4/11/19)		No Opt. Call		A		2,049,915
	5,000	Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2013A, 5.000%, 10/01/20		No Opt. Call		A+		5,244,400
		Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Refunding Series 20168C:
	580	5.000%, 10/01/20		No Opt. Call		A+		608,530
	1,605	5.000%, 10/01/22		No Opt. Call		A+		1,777,521
	1,530	5.000%, 10/01/23		No Opt. Call		A+		1,737,468
	240	Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (AMT)		5/19 at 100.00		A–		243,602
		New Haven, Connecticut, General Obligation Bonds, Refunding Series 2014B:
	1,915	4.000%, 8/01/19 – AGM Insured		No Opt. Call		AA		1,928,711
	2,000	5.000%, 8/01/20 – AGM Insured		No Opt. Call		AA		2,083,180
	890	South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twenty-Ninth Series 2014, 5.000%, 8/01/22		No Opt. Call		AA–		988,034
		Stratford, Connecticut, General Obligation Bonds, Series 2014:
	395	3.000%, 12/15/19		No Opt. Call		AA–		398,650
	525	5.000%, 12/15/21		No Opt. Call		AA–		569,153
		West Haven, Connecticut, General Obligation Bonds, Series 2012:
	2,095	5.000%, 8/01/22 – AGM Insured		No Opt. Call		AA		2,278,082
	2,000	5.000%, 8/01/23 – AGM Insured		8/22 at 100.00		AA		2,187,100
	1,000	5.000%, 8/01/25 – AGM Insured		8/22 at 100.00		AA		1,087,550
	201,385	Total Connecticut						206,811,075
		Delaware – 0.1%
		Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013:
	1,905	5.000%, 7/01/19		No Opt. Call		BBB+		1,917,173
	2,000	5.000%, 7/01/20		No Opt. Call		BBB+		2,062,620
	275	5.000%, 7/01/21		No Opt. Call		BBB+		290,128
	4,180	Total Delaware						4,269,921
		District of Columbia – 1.3%
	16,090	District of Columbia, Income Tax Secured Revenue Bonds, Refunding Series 2009A, 5.000%, 12/01/24		12/19 at 100.00		AAA		16,461,357

149

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		District of Columbia (continued)
$	10,000	District of Columbia, Income Tax Secured Revenue Bonds, Series 2011G, 5.000%, 12/01/30		12/21 at 100.00		AAA	$	10,815,900
		Metropolitan Washington DC Airports Authority, Airport System Revenue Bonds, Refunding Series 2018A:
	8,165	5.000%, 10/01/22 (AMT)		No Opt. Call		AA–		9,054,414
	10,830	5.000%, 10/01/23 (AMT)		No Opt. Call		AA–		12,313,602
	8,875	5.000%, 10/01/24 (AMT)		No Opt. Call		AA–		10,303,520
	7,240	5.000%, 10/01/25 (AMT)		No Opt. Call		AA–		8,560,431
	1,200	Washington Metropolitan Area Transit Authority, District of Columbia, Gross Revenue Bonds, Series 2018, 5.000%, 7/01/24		No Opt. Call		AA–		1,400,028
	62,400	Total District of Columbia						68,909,252
		Florida – 3.7%
		Broward County, Florida, Airport System Revenue Bonds, Series 2015A:
	5,000	5.000%, 10/01/24 (AMT)		No Opt. Call		A+		5,773,700
	5,000	5.000%, 10/01/25 (AMT)		No Opt. Call		A+		5,881,950
	2,295	5.000%, 10/01/26 (AMT)		10/25 at 100.00		A+		2,695,225
	4,110	5.000%, 10/01/27 (AMT)		10/25 at 100.00		A+		4,802,288
		Broward County, Florida, Airport System Revenue Bonds, Series 2017:
	1,080	5.000%, 10/01/20 (AMT)		No Opt. Call		A+		1,130,825
	1,585	5.000%, 10/01/21 (AMT)		No Opt. Call		A+		1,707,806
	1,000	5.000%, 10/01/23 (AMT)		No Opt. Call		A+		1,132,360
		Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017:
	960	1.650%, 9/01/19 – AGM Insured		No Opt. Call		AA		959,501
	935	1.900%, 9/01/20 – AGM Insured		No Opt. Call		AA		933,953
	960	2.000%, 9/01/21 – AGM Insured		No Opt. Call		AA		957,955
	1,225	2.125%, 9/01/22 – AGM Insured		No Opt. Call		AA		1,221,496
		Citizens Property Insurance Corporation, Florida, Coastal Account Senior Secured Bonds, Series 2015A-1:
	5,030	5.000%, 6/01/20		12/19 at 100.00		AA		5,141,716
	18,050	5.000%, 6/01/22		12/21 at 100.00		AA		19,576,669
	10,480	5.000%, 6/01/25		12/24 at 100.00		AA		12,252,273
	395	Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1, 5.000%, 6/01/19		No Opt. Call		AA		397,157
	5,000	Florida Department of Transportation, Full Faith and Credit Right-of-Way Acquisition and Bridge Construction Bonds, Refunding Series 2015A, 5.000%, 7/01/23		No Opt. Call		AAA		5,700,950
	5,010	Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2018-2, 3.750%, 7/01/33		1/28 at 100.00		Aaa		5,273,025
	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+		6,180,880
	2,655	Florida Municipal Power Agency, Revenue Bonds, Saint Lucie Project, Refunding Series 2011A, 5.000%, 10/01/20		No Opt. Call		A2		2,790,856
	4,515	Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2010E, 5.000%, 6/01/19		No Opt. Call		AAA		4,540,871
	2,215	Hillsborough County School District, Florida, Sales Tax Revenue Refunding Bonds, Series 2015B, 5.000%, 10/01/20 – AGM Insured		No Opt. Call		AA		2,323,624

150

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
		Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017:
$	1,020	5.000%, 10/01/21 – AGM Insured		No Opt. Call		AA	$	1,106,588
	3,120	5.000%, 10/01/23 – AGM Insured		No Opt. Call		AA		3,576,456
	2,725	5.000%, 10/01/25 – AGM Insured		No Opt. Call		AA		3,249,453
	2,295	5.000%, 10/01/26 – AGM Insured		No Opt. Call		AA		2,779,383
	2,010	5.000%, 10/01/27 – AGM Insured		4/27 at 100.00		AA		2,443,637
	2,850	5.000%, 10/01/28 – AGM Insured		4/27 at 100.00		AA		3,452,889
	2,310	5.000%, 10/01/29 – AGM Insured		4/27 at 100.00		AA		2,775,881
	2,525	Manatee County, Florida, Revenue Bonds, Refunding & Improvement Series 2013, 5.000%, 10/01/20		No Opt. Call		AA+		2,654,962
	355	Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (AMT), 144A		6/20 at 100.00		BBB+		361,912
		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2014B:
	3,040	5.000%, 7/01/20		No Opt. Call		A+		3,167,437
	2,315	5.000%, 7/01/21		No Opt. Call		A+		2,486,032
	1,805	5.000%, 7/01/22		No Opt. Call		A+		1,992,431
	4,000	5.000%, 7/01/23		No Opt. Call		A+		4,527,280
	2,770	Miami-Dade County School Board, Florida, Certificates of Participation, Series 2015D, 5.000%, 2/01/20		No Opt. Call		A+		2,846,867
		Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition, Series 2010E:
	1,790	5.000%, 4/01/19		No Opt. Call		AA		1,790,000
	1,880	5.000%, 4/01/20		No Opt. Call		AA		1,942,980
	5,280	North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.000%, 10/01/20		No Opt. Call		A+		5,463,638
	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		10,466,100
		Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A:
	2,000	5.000%, 11/01/29 – AGM Insured		11/27 at 100.00		AA		2,400,980
	9,215	5.000%, 11/01/30 – AGM Insured		11/27 at 100.00		AA		10,990,177
		Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Refunding Series 2011:
	85	5.000%, 10/01/25 (Pre-refunded 10/01/21)		10/21 at 100.00		N/R (4)		92,091
	4,915	5.000%, 10/01/25		10/21 at 100.00		AA+		5,314,639
		Port Saint Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2014:
	550	5.000%, 9/01/20		No Opt. Call		AA–		576,504
	500	5.000%, 9/01/22		No Opt. Call		AA–		553,230
	510	5.000%, 9/01/23		No Opt. Call		AA–		578,692
		South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Series 2017:
	1,280	5.000%, 8/15/21		No Opt. Call		AA–		1,373,965
	440	5.000%, 8/15/22		No Opt. Call		AA–		485,197
	1,760	5.000%, 8/15/23		No Opt. Call		AA–		1,990,138
	2,000	5.000%, 8/15/24		No Opt. Call		AA–		2,313,320
	5,500	5.000%, 8/15/25		No Opt. Call		AA–		6,493,795

151

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	5,780	Tampa Bay, Florida, Regional Water Supply Authority, Utility System Revenue Bonds, Series 2015A, 5.000%, 10/01/26		10/25 at 100.00		AA+	$	6,923,746
		Tampa, Florida, Cigarette Tax Allocation Bonds, H Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A:
	3,475	5.000%, 9/01/19		No Opt. Call		A+		3,522,156
	865	5.000%, 9/01/20		No Opt. Call		A+		904,202
	785	5.000%, 9/01/21		No Opt. Call		A+		845,021
	545	Tampa, Florida, Revenue Bonds, University of Tampa, Refunding Series 2015, 5.000%, 4/01/21		No Opt. Call		A–		579,727
	335	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		333,422
	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		95,510
	165	Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.375%, 5/01/17 (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		5/19 at 100.00		N/R		375,089
	280	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40		5/19 at 100.00		N/R		187,726
	305	Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (6)		5/19 at 100.00		N/R		3
	177,335	Total Florida						195,388,338
		Georgia – 1.8%
	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–		15,006,152
		Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Vogtle Plant, First Series 2012:
	7,085	1.850%, 12/01/49(Mandatory Put 8/22/19)		No Opt. Call		A–		7,079,119
	3,000	1.850%, 12/01/49(Mandatory Put 8/22/19)		No Opt. Call		A–		2,997,510
	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–		3,001,140
	1,515	DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Refunding Second Resolution Series 2013, 5.000%, 10/01/22		No Opt. Call		Aa3		1,690,407
	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		Baa1		7,980,080
	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		11,472,490
	10,580	Georgia State, General Obligation Bonds, Series 2015A, 5.000%, 2/01/24		No Opt. Call		AAA		12,262,855
	5,000	Georgia State, General Obligation Bonds, Series 2017A, 5.000%, 2/01/32		2/27 at 100.00		AAA		6,040,350
	4,355	Georgia State, General Obligation Bonds, Tranche 1 Series 2016A, 5.000%, 2/01/25		No Opt. Call		AAA		5,170,430

152

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Georgia (continued)
$	6,015	Georgia State, General Obligation Bonds, Tranche 2 Series 2016A, 5.000%, 2/01/28		2/26 at 100.00		AAA	$	7,264,496
	2,000	Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Scherer Plant, Series 2009-2, 2.350%, 10/01/48 (Mandatory Put 12/11/20)		No Opt. Call		A3		1,995,020
	3,750	Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Gulf Power Company – Scherer Project, First Series 2010, 1.400%, 6/01/49 (Mandatory Put 9/19/19)		No Opt. Call		A2		3,738,600
	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–		3,054,943
	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)		5/19 at 100.00		A		5,270,580
	580	Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Refunding Series 2012C, 5.000%, 10/01/20		No Opt. Call		Baa1		605,137
	89,845	Total Georgia						94,629,309
		Hawaii – 0.7%
	17,130	Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc and Subsidiary Projects, Series 2017A, 3.100%, 5/01/26 (AMT)		No Opt. Call		A–		17,391,575
		Hawaii State, General Obligation Bonds, Series 2013EH:
	6,850	5.000%, 8/01/21 (ETM)		No Opt. Call		N/R (4)		7,392,040
	65	5.000%, 8/01/21 (ETM)		No Opt. Call		N/R (4)		70,143
	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 (AMT)		No Opt. Call		A–		1,528,517
	5,740	Honolulu City and County, Hawaii, General Obligation Bonds, Refunding Series 2017D, 5.000%, 9/01/30		9/27 at 100.00		Aa1		7,009,057
	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		2,564,155
	33,425	Total Hawaii						35,955,487
		Idaho – 0.8%
		Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series 2018A:
	4,500	5.000%, 3/01/25		No Opt. Call		A–		5,228,730
	6,020	5.000%, 3/01/26		No Opt. Call		A–		7,115,700
	4,320	5.000%, 3/01/27		No Opt. Call		A–		5,181,322
	4,815	5.000%, 3/01/29		9/28 at 100.00		A–		5,793,504
	4,880	5.000%, 3/01/31		9/28 at 100.00		A–		5,775,480
	12,935	Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, Refunding Series 2016, 2.750%, 10/01/24		No Opt. Call		BBB–		13,180,248
	37,470	Total Idaho						42,274,984

153

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois – 10.8%
		Adams County School District 172, Quincy, Illinois, General Obligation Bonds, Series 2016:
$	250	4.000%, 2/01/20 – AGM Insured		No Opt. Call		AA	$	254,510
	250	4.000%, 2/01/21 – AGM Insured		No Opt. Call		AA		258,663
	580	4.000%, 2/01/22 – AGM Insured		No Opt. Call		AA		609,957
	1,290	5.000%, 2/01/25 – AGM Insured		No Opt. Call		AA		1,482,713
	1,455	5.000%, 2/01/27 – AGM Insured		2/26 at 100.00		AA		1,688,862
		Bourbonnais, Illinois, Industrial Project Revenue Bonds, Olivet Nazarene University Project, Series 2010:
	535	5.000%, 11/01/20 (ETM)		No Opt. Call		N/R (4)		552,634
	2,645	5.125%, 11/01/25 (Pre-refunded 11/01/20)		11/20 at 100.00		N/R (4)		2,791,612
	422	Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016, 2.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		417,269
		Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016:
	392	1.700%, 3/01/20 – BAM Insured		No Opt. Call		AA		390,436
	237	1.700%, 3/01/20 – BAM Insured		No Opt. Call		AA		236,054
	480	1.900%, 3/01/21 – BAM Insured		No Opt. Call		AA		474,758
	295	2.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		291,693
	19,250	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 6.750%, 12/01/30, 144A		12/27 at 100.00		B+		23,727,550
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C:
	5,000	5.000%, 12/01/19		No Opt. Call		BB–		5,076,650
	7,080	5.000%, 12/01/20		No Opt. Call		BB–		7,348,120
	8,340	5.000%, 12/01/21		No Opt. Call		BB–		8,754,998
	12,000	5.000%, 12/01/22		No Opt. Call		BB–		12,724,440
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018A:
	6,000	4.000%, 12/01/20		No Opt. Call		BB–		6,130,200
	3,205	4.000%, 12/01/22		No Opt. Call		BB–		3,288,618
	4,800	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018C, 5.000%, 12/01/22		No Opt. Call		BB–		5,089,776
	1,000	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Refunding Senior Lien Series 2018A, 5.000%, 1/01/20 (AMT)		No Opt. Call		A		1,024,150
	5,000	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2013A, 5.000%, 1/01/21 (AMT)		No Opt. Call		A		5,278,300
		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		2,824,013
	1,885	5.000%, 1/01/21		No Opt. Call		A		1,993,934
	5,000	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Third Lien Refunding Series 2010C, 5.250%, 1/01/30 – AGC Insured		1/20 at 100.00		AA		5,132,250
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
	6,270	5.000%, 1/01/23		No Opt. Call		BBB+		6,724,951
	7,445	5.000%, 1/01/24		No Opt. Call		BBB+		8,064,350
	4,205	5.000%, 1/01/25		No Opt. Call		BBB+		4,609,521
	1,840	5.000%, 1/01/26		No Opt. Call		BBB+		2,039,014

154

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	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+	$	2,098,528
		Cook County High School District 212 Leyden, Illinois, General Obligation Bonds, Limited Tax Series 2016C:
	1,000	5.000%, 12/01/23		No Opt. Call		AA		1,131,460
	1,800	5.000%, 12/01/25		12/24 at 100.00		AA		2,062,746
	2,830	Cook County Township High School District 225 Northfield, Illinois, General Obligation Bonds, Series 2016A, 5.000%, 12/01/22		No Opt. Call		AAA		3,160,601
	4,750	Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/22		11/20 at 100.00		AA–		4,989,210
		Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C:
	3,445	5.000%, 11/15/27		11/22 at 100.00		AA–		3,736,206
	3,000	5.000%, 11/15/33		11/22 at 100.00		AA–		3,203,940
	2,940	Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A, 5.000%, 11/15/19		No Opt. Call		AA–		2,996,536
		DuPage County School District 58 Downers Grove, Illinois, General Obligation Bonds, Limited Tax Capital Appreciation School Series 2018:
	1,000	0.000%, 12/15/26		No Opt. Call		Aa1		834,480
	1,050	0.000%, 12/15/27		No Opt. Call		Aa1		849,356
		Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017:
	760	1.800%, 3/01/20 – BAM Insured		No Opt. Call		AA		756,869
	795	2.000%, 3/01/21 – BAM Insured		No Opt. Call		AA		786,994
	835	2.200%, 3/01/22 – BAM Insured		No Opt. Call		AA		831,209
	20,800	Illinois Development Finance Authority, Revenue Bonds, St Vincent de Paul Center Project, Series 2000A, 2.450%, 11/15/39 (Mandatory Put 3/03/26)		No Opt. Call		AA+		20,915,024
	2,750	Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Series 1998B, 1.875%, 7/01/25 (Mandatory Put 2/13/20)		No Opt. Call		AA–		2,753,383
	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		A		19,382,104
	11,300	Illinois Finance Authority, Midwestern Disaster Area Industrial Development Revenue Bonds, Cargill, Incorporated Project, Series 2012, 1.750%, 11/01/38 (Mandatory Put 11/01/21)		No Opt. Call		A		11,127,223
	1,010	Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2014, 5.000%, 8/01/20		No Opt. Call		AA		1,054,733
	950	Illinois Finance Authority, Revenue Bonds, Alexian Brothers Health System, Series 2010, 5.000%, 2/15/21 (Pre-refunded 2/15/20)		2/20 at 100.00		N/R (4)		978,092
	10,150	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+		10,223,587
		Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C:
	4,145	5.000%, 2/15/20		No Opt. Call		AA+		4,253,350
	5,605	5.000%, 2/15/21		No Opt. Call		AA+		5,950,212
	5,430	5.000%, 2/15/22		No Opt. Call		AA+		5,935,913
	4,000	5.000%, 2/15/23		No Opt. Call		AA+		4,488,800

155

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012:
$	930	5.000%, 9/01/19		No Opt. Call		AA+	$	943,243
	8,665	5.000%, 9/01/27		9/22 at 100.00		AA+		9,547,097
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:
	370	5.000%, 9/01/19		No Opt. Call		AA+		375,269
	770	5.000%, 9/01/20		No Opt. Call		AA+		806,113
	350	5.000%, 9/01/21		No Opt. Call		AA+		377,538
	770	5.000%, 9/01/22		No Opt. Call		AA+		853,861
	620	5.000%, 9/01/23		No Opt. Call		AA+		705,200
	2,240	5.000%, 9/01/24		No Opt. Call		AA+		2,605,926
	865	5.000%, 9/01/25		9/24 at 100.00		AA+		1,006,306
		Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016:
	2,500	5.000%, 12/01/21		No Opt. Call		A3		2,692,450
	2,770	5.000%, 12/01/22		No Opt. Call		A3		3,057,221
		Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A:
	855	5.000%, 7/01/21		No Opt. Call		A		915,423
	1,000	5.000%, 7/01/23		No Opt. Call		A		1,125,710
	920	5.000%, 7/01/24		No Opt. Call		A		1,057,384
		Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A:
	1,715	5.000%, 11/15/20		No Opt. Call		A		1,804,420
	1,100	5.000%, 11/15/21		No Opt. Call		A		1,190,376
	1,190	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 5.000%, 11/15/20		No Opt. Call		AA–		1,254,212
	405	Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2005, 5.250%, 8/15/19 – AGM Insured (ETM)		No Opt. Call		AA (4)		410,488
	880	Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc, Refunding Series 2017C, 5.000%, 3/01/25		No Opt. Call		A+		1,010,363
		Illinois Finance Authority, Revenue Bonds, Swedish Covenant Hospital, Series 2016A:
	1,000	5.000%, 8/15/19		No Opt. Call		BBB		1,009,910
	1,400	5.000%, 8/15/21		No Opt. Call		BBB		1,485,330
	1,000	5.000%, 8/15/22		No Opt. Call		BBB		1,085,290
	1,015	5.000%, 8/15/24		No Opt. Call		BBB		1,144,707
	2,000	5.000%, 8/15/25		No Opt. Call		BBB		2,291,720
	3,000	5.000%, 8/15/26		No Opt. Call		BBB		3,484,110
		Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2014A:
	1,045	5.000%, 10/01/19		No Opt. Call		AA+		1,062,681
	2,220	5.000%, 10/01/20		No Opt. Call		AA+		2,331,910
	5,345	Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/20		No Opt. Call		AA+		5,614,441
	3,690	Illinois Housing Development Authority, Homeowner Mortgage Revenue Bonds, Series 2018A, 3.500%, 8/01/31		8/27 at 100.00		AA		3,817,600

156

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Refunding Series 2015A:
$	4,035	5.000%, 2/01/20		No Opt. Call		A1	$	4,145,962
	10,930	5.000%, 2/01/21		No Opt. Call		A1		11,552,682
	5,070	5.000%, 2/01/22		No Opt. Call		A1		5,501,001
	2,600	5.000%, 2/01/25		No Opt. Call		A1		3,022,370
	5,000	Illinois State, General Obligation Bonds, December Series 2017A, 5.000%, 12/01/24		No Opt. Call		BBB		5,475,750
		Illinois State, General Obligation Bonds, February Series 2014:
	1,390	5.000%, 2/01/20		No Opt. Call		BBB		1,421,928
	4,175	5.000%, 2/01/22		No Opt. Call		BBB		4,438,359
	3,320	Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/21		No Opt. Call		BBB		3,460,336
		Illinois State, General Obligation Bonds, November Series 2017D:
	350	5.000%, 11/01/21		No Opt. Call		BBB		371,599
	20,275	5.000%, 11/01/22		No Opt. Call		BBB		21,866,385
	25,985	5.000%, 11/01/23		No Opt. Call		BBB		28,196,064
	10,815	5.000%, 11/01/24		No Opt. Call		BBB		11,833,016
	6,950	3.250%, 11/01/26		No Opt. Call		BBB		6,751,577
	15,250	5.000%, 11/01/27		No Opt. Call		BBB		16,926,737
	5,000	Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/21		No Opt. Call		BBB		5,221,200
	1,290	Illinois State, General Obligation Bonds, Refunding Series 2007B, 5.250%, 1/01/20		No Opt. Call		BBB		1,319,051
	14,720	Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/24		1/20 at 100.00		BBB		14,938,003
	4,120	Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/20		No Opt. Call		BBB		4,260,410
		Illinois State, General Obligation Bonds, Series 2013:
	4,205	5.000%, 7/01/21		No Opt. Call		BBB		4,432,533
	3,140	5.500%, 7/01/25		7/23 at 100.00		BBB		3,411,265
	6,220	Illinois State, Sales Tax Revenue Bonds, Build Illinois, Junior Lien Series 2013, 5.000%, 6/15/19		No Opt. Call		A–		6,257,320
		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A:
	1,615	5.000%, 12/01/20		No Opt. Call		AA–		1,704,503
	1,750	5.000%, 12/01/21		No Opt. Call		AA–		1,902,793
	2,100	5.000%, 12/01/22		No Opt. Call		AA–		2,348,493
	11,970	Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014D, 5.000%, 1/01/24		No Opt. Call		AA–		13,767,295
		Kane County Community Unit School District 304 Geneva, Illinois, General Obligation Bonds, Refunding Series 2016:
	2,520	5.000%, 1/01/26		No Opt. Call		AA+		2,988,796
	5,055	5.000%, 1/01/27		1/26 at 100.00		AA+		5,946,247
		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		1,060,487
	1,000	5.000%, 12/01/22 – BAM Insured		No Opt. Call		AA		1,109,670
	1,085	5.000%, 12/01/23 – BAM Insured		No Opt. Call		AA		1,233,851
	1,235	5.000%, 12/01/26 – BAM Insured		No Opt. Call		AA		1,482,420

157

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Madison County Community Unit School District 7 Edwardsville, Illinois, General Obligation Bonds, Series 2017A:
$	3,225	4.000%, 12/01/19		No Opt. Call		AA	$	3,272,827
	2,100	4.000%, 12/01/20		No Opt. Call		AA		2,177,112
		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B:
	725	5.000%, 12/15/25		No Opt. Call		BBB		804,518
	1,925	5.000%, 12/15/26		No Opt. Call		BBB		2,143,122
	360	5.000%, 12/15/27		No Opt. Call		BBB		403,060
	1,945	5.000%, 12/15/28		12/27 at 100.00		BBB		2,198,472
	650	5.000%, 12/15/30		12/27 at 100.00		BBB		725,563
		Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018:
	290	2.300%, 3/01/21 – BAM Insured		No Opt. Call		AA		290,702
	387	2.450%, 3/01/22 – BAM Insured		No Opt. Call		AA		389,039
	386	2.850%, 3/01/24 – BAM Insured		No Opt. Call		AA		390,400
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:
	11,745	5.000%, 6/01/19		No Opt. Call		A		11,807,601
	6,025	5.250%, 6/01/20		No Opt. Call		A		6,263,771
	280	5.250%, 6/01/21		No Opt. Call		A		300,065
		Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017:
	4,250	5.000%, 6/01/22		No Opt. Call		A		4,648,905
	2,015	5.000%, 6/01/23		No Opt. Call		A		2,256,095
	2,525	5.000%, 6/01/24		No Opt. Call		A		2,886,328
	5,920	5.000%, 6/01/25		No Opt. Call		A		6,897,155
	1,895	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		2,006,123
	1,545	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		1,559,956
		Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017:
	1,009	2.850%, 3/01/22 – BAM Insured		No Opt. Call		AA		1,018,232
	1,133	3.200%, 3/01/24 – BAM Insured		No Opt. Call		AA		1,161,993
	1,000	3.300%, 3/01/25 – BAM Insured		No Opt. Call		AA		1,032,820
	1,258	3.450%, 3/01/26 – BAM Insured		No Opt. Call		AA		1,307,251
	1,208	3.600%, 3/01/28 – BAM Insured		3/27 at 100.00		AA		1,261,865
		Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Hospital Sisters Services, Inc Obligated Group, Series 2017A:
	2,460	5.000%, 2/15/26		No Opt. Call		AA–		2,927,843
	3,525	5.000%, 2/15/27		No Opt. Call		AA–		4,258,834
		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:
	2,495	5.000%, 3/01/20		No Opt. Call		A		2,566,557
	2,765	5.000%, 3/01/21		No Opt. Call		A		2,928,522
	2,565	5.000%, 3/01/22		No Opt. Call		A		2,792,233
	2,415	Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2012, 4.000%, 11/01/19		No Opt. Call		A+		2,445,236

158

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
		Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013:
$	1,450	0.000%, 2/01/21		No Opt. Call		A+	$	1,390,072
	6,220	0.000%, 2/01/22		No Opt. Call		A+		5,810,600
	6,820	0.000%, 2/01/23		No Opt. Call		A+		6,196,038
	541,047	Total Illinois						575,713,864
		Indiana – 3.9%
		Carmel Local Public Improvement Bond Bank, Indiana, Multipurpose Revenue Bonds, Series 2016:
	1,215	5.000%, 7/15/19		No Opt. Call		AA		1,227,028
	815	5.000%, 7/15/20		No Opt. Call		AA		851,072
	1,000	Gary, Indiana, Revenue Anticipation Notes, Series 2019, 5.000%, 2/25/20		5/19 at 100.00		N/R		983,950
		Hamilton Southeastern Consolidated School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Refunding Series 2015D:
	2,000	5.000%, 1/15/20		No Opt. Call		AA+		2,053,820
	1,000	5.000%, 7/15/20		No Opt. Call		AA+		1,043,870
		Hobart Building Corporation, Indiana, First Mortgage Revenue Bonds, Refunding Series 2016:
	1,655	4.000%, 7/15/19		No Opt. Call		AA+		1,666,304
	1,540	4.000%, 7/15/20		No Opt. Call		AA+		1,587,032
	1,590	4.000%, 1/15/21		No Opt. Call		AA+		1,656,605
	2,200	5.000%, 1/15/22		No Opt. Call		AA+		2,397,384
	13,000	Indiana Bond Bank, Advance Purchase Funding Bonds, Common School Fund, Series 2019A, 4.000%, 1/03/20		No Opt. Call		N/R		13,219,310
	275	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		277,019
	2,120	Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.000%, 3/01/20 (ETM)		No Opt. Call		N/R (4)		2,184,914
		Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A:
	1,075	4.000%, 10/01/20		No Opt. Call		A		1,104,218
	435	4.000%, 10/01/21		No Opt. Call		A		454,436
	145	5.000%, 10/01/23		No Opt. Call		A		161,740
		Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health System Obligated Group, Refunding Series 2012A:
	30	5.000%, 5/01/19		No Opt. Call		N/R (4)		30,082
	835	5.000%, 5/01/19		No Opt. Call		AA–		837,154
	30	5.000%, 5/01/20		No Opt. Call		N/R (4)		31,085
	735	5.000%, 5/01/20		No Opt. Call		AA–		760,527
	65	5.000%, 5/01/21		No Opt. Call		N/R (4)		69,462
	1,935	5.000%, 5/01/21		No Opt. Call		AA–		2,061,955
		Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A:
	375	5.000%, 10/01/19		No Opt. Call		AA		381,308
	785	5.000%, 10/01/20		No Opt. Call		AA		823,496

159

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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:
$	680	5.000%, 10/01/20		No Opt. Call		AA	$	713,347
	690	5.000%, 10/01/23		No Opt. Call		AA		784,523
	1,000	5.000%, 10/01/24		No Opt. Call		AA		1,163,220
	1,800	5.000%, 10/01/25		10/24 at 100.00		AA		2,102,004
	1,240	5.000%, 10/01/26		10/24 at 100.00		AA		1,445,220
	800	5.000%, 10/01/27		10/24 at 100.00		AA		931,032
	3,065	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		3,055,836
	3,040	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		3,030,910
	10,000	Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2011A-2, 2.000%, 11/15/36 (Mandatory Put 2/01/23)		No Opt. Call		AA+		10,051,200
	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–		278,320
		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		1,646,023
	3,690	5.500%, 1/01/20 – NPFG Insured		No Opt. Call		AA		3,799,741
	8,000	Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007B, 5.250%, 7/01/24 – NPFG Insured		No Opt. Call		AA		9,367,760
	10,215	Indianapolis, Indiana, Gas Utility Distribution System Revenue Bonds, Refunding 2nd Lien Series 2017A, 5.000%, 8/15/25		No Opt. Call		AA		12,188,844
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A:
	285	5.000%, 10/01/19		No Opt. Call		A		289,566
	350	5.000%, 10/01/20		No Opt. Call		A		366,261
	450	5.000%, 10/01/21		No Opt. Call		A		484,294
	460	5.000%, 10/01/22		No Opt. Call		A		508,295
	710	5.000%, 10/01/23		No Opt. Call		A		802,996
	420	5.000%, 10/01/24		No Opt. Call		A		484,756
	505	5.000%, 10/01/25		10/24 at 100.00		A		581,442
	760	5.000%, 10/01/26		10/24 at 100.00		A		873,764
		Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2016A:
	1,910	5.000%, 10/01/21		No Opt. Call		A		2,055,561
	4,400	5.000%, 10/01/22		No Opt. Call		A		4,861,956
	10,000	5.000%, 10/01/23		No Opt. Call		A		11,309,800
	550	Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A, 3.000%, 4/01/19		No Opt. Call		Ba1		550,000
	12,500	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) (AMT)		No Opt. Call		Aa3		12,461,125
	1,000	Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2015A, 5.000%, 1/01/22		No Opt. Call		A		1,075,930
	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–		2,663,561

160

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Indiana (continued)
$	13,000	Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company, Series 2002A, 2.750%, 6/01/25		No Opt. Call		A–	$	13,074,750
		Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014:
	800	5.000%, 2/01/20		No Opt. Call		A		821,392
	640	5.000%, 2/01/21		No Opt. Call		A		674,797
	1,595	4.000%, 2/01/24		No Opt. Call		A		1,739,794
	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) (AMT)		No Opt. Call		Aa3		7,476,675
	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		A–		32,283,709
	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) (AMT)		No Opt. Call		A–		10,999,700
	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) (AMT)		No Opt. Call		A1		11,413,301
		Zionsville Community Schools Building Corporation, Indiana, First Mortgage Bonds, Refunding Series 2014B:
	2,020	3.000%, 7/15/19 – Insured		No Opt. Call		AA		2,028,524
	1,255	4.000%, 1/15/20 – Insured		No Opt. Call		AA		1,279,309
	197,345	Total Indiana						207,583,009
		Iowa – 0.5%
		Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011:
	1,380	5.000%, 1/01/20 – AGM Insured (ETM)		No Opt. Call		AA (4)		1,415,618
	1,245	5.000%, 1/01/22 – AGM Insured (Pre-refunded 1/01/21)		1/21 at 100.00		AA (4)		1,319,613
	3,215	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2019, 3.125%, 12/01/22 (WI/DD, Settling 4/03/19)		12/20 at 103.00		B+		3,236,154
	4,900	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25		12/23 at 100.00		B+		5,285,483
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016:
	2,000	5.875%, 12/01/26, 144A		5/19 at 105.00		B+		2,101,900
	4,775	5.875%, 12/01/27, 144A		6/19 at 105.00		B+		5,028,648
	9,730	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018A, 5.250%, 12/01/50		12/22 at 103.00		B+		10,271,572
	27,245	Total Iowa						28,658,988
		Kansas – 0.2%
		Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A:
	1,090	5.000%, 1/01/20 (ETM)		No Opt. Call		N/R (4)		1,117,719
	185	5.000%, 1/01/20		No Opt. Call		AA–		189,677
	1,295	5.000%, 1/01/23 (Pre-refunded 1/01/20)		1/20 at 100.00		N/R (4)		1,327,932
	200	5.000%, 1/01/23		1/20 at 100.00		AA–		204,890

161

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kansas (continued)
		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		5/19 at 102.00		A+	$	2,295,669
	2,945	5.000%, 6/01/26 – NPFG Insured		5/19 at 102.00		A+		3,011,380
	2,000	Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Refunding & Improvement Series 2014A, 5.000%, 9/01/20		No Opt. Call		A+		2,093,520
	9,960	Total Kansas						10,240,787
		Kentucky – 2.7%
	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		18,435,990
		Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A:
	1,500	5.000%, 6/01/21		No Opt. Call		Baa3		1,579,605
	1,375	5.000%, 6/01/22		No Opt. Call		Baa3		1,478,593
	6,000	5.000%, 6/01/24		No Opt. Call		Baa3		6,678,000
	4,200	5.000%, 6/01/25		No Opt. Call		Baa3		4,730,250
	9,705	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+		9,818,451
	6,000	Kentucky State Property and Buildings Commission, Revenue Bonds, Project 112, Refunding Series 2016B, 5.000%, 11/01/19		No Opt. Call		A1		6,115,560
	3,050	Louisville and Jefferson County Metropolitan Government, Kentucky, General Obligation Bonds, Series 2015A, 5.000%, 12/01/20		No Opt. Call		AAA		3,223,667
		Louisville/Jefferson County Metro Government, Kentucky, Revenue Bonds, Catholic Health Initiatives, Series 2012A:
	5,025	5.000%, 12/01/19		No Opt. Call		BBB+		5,126,505
	2,100	3.500%, 12/01/20		No Opt. Call		BBB+		2,152,395
	3,025	5.000%, 12/01/23		6/22 at 100.00		BBB+		3,303,663
	2,970	5.000%, 12/01/24		6/22 at 100.00		BBB+		3,249,269
	4,025	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		4,020,653
	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		6,492,980
	7,500	Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 2.550%, 11/01/27 (Mandatory Put 5/03/21) (AMT)		No Opt. Call		A1		7,599,975
	2,020	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		2,021,939
	4,520	Oldham County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Refunding Series 2016, 4.000%, 9/01/27		No Opt. Call		A1		5,040,433

162

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Kentucky (continued)
		Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc Project, Improvement and Refunding Series 2011:
$	60	6.000%, 3/01/20 (ETM)		No Opt. Call		Baa2 (4)	$	62,407
	1,090	6.000%, 3/01/20		No Opt. Call		Baa2		1,127,245
	420	6.000%, 3/01/21 (ETM)		No Opt. Call		Baa2 (4)		454,940
	800	6.000%, 3/01/21		No Opt. Call		Baa2		856,024
	12,750	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 4/01/48 (Mandatory Put 4/01/24)		1/24 at 100.37		A3		13,695,412
	10,470	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018B, 4.000%, 1/01/49 (Mandatory Put 1/01/25)		10/24 at 100.24		A1		11,382,356
	5,000	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018C-1, 4.000%, 12/01/49 (Mandatory Put 6/01/25)		3/25 at 100.19		A3		5,417,950
	8,050	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, 2.550%, 11/01/27 (Mandatory Put 5/03/21) (AMT)		No Opt. Call		N/R		8,160,607
	6,765	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2002A, 2.300%, 9/01/26 (Mandatory Put 9/01/21)		No Opt. Call		A1		6,834,274
	4,915	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+		5,386,447
	138,335	Total Kentucky						144,445,590
		Louisiana – 4.6%
	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–		2,364,721
		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+		2,523,725
	2,070	5.000%, 7/15/20		No Opt. Call		AA+		2,157,292
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2015:
	2,350	5.000%, 6/01/19		No Opt. Call		A1		2,362,831
	2,095	5.000%, 6/01/20		No Opt. Call		A1		2,175,783
	2,075	5.000%, 6/01/21 – AGM Insured		No Opt. Call		AA		2,221,889
	2,595	5.000%, 6/01/22 – AGM Insured		No Opt. Call		AA		2,859,560
		Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A:
	33,390	5.000%, 6/01/23		No Opt. Call		A1		37,785,126
	9,000	5.000%, 6/01/24		No Opt. Call		A1		10,431,360
		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		1,562,041
	2,245	5.000%, 8/01/24		No Opt. Call		AA		2,595,781
	180	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Livingston Parish North Park Project, Series 2008, 6.100%, 10/01/19		5/19 at 100.00		AA–		180,621
	30,145	Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017, 3.500%, 11/01/32		11/27 at 100.00		BBB		30,368,375

163

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Louisiana (continued)
		Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Womans Hospital Foundation Project, Refunding Series 2017A:
$	1,000	3.000%, 10/01/22		No Opt. Call		A	$	1,034,510
	1,800	5.000%, 10/01/23		No Opt. Call		A		2,030,796
	1,070	5.000%, 10/01/24		No Opt. Call		A		1,233,164
	3,000	4.000%, 10/01/25		No Opt. Call		A		3,332,310
	29,790	Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children’s Medical Center Hospital, Series 2015A-1 Fixed Rate Mode, 5.000%, 6/01/45 (Mandatory Put 6/01/25)		No Opt. Call		A+		34,707,137
	7,165	Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children’s Medical Center Hospital, Series 2015A-3 Term Rate Mode, 5.000%, 6/01/45 (Mandatory Put 6/01/23)		No Opt. Call		A+		8,025,302
		Louisiana Public Facilities Authority, Revenue Bonds, Hurricane Recovery Program, Refunding Series 2014:
	1,785	5.000%, 6/01/19		No Opt. Call		A1		1,794,693
	5,015	5.000%, 6/01/20		No Opt. Call		A1		5,206,573
	1,040	Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 5.000%, 5/15/22		No Opt. Call		A3		1,133,340
	1,650	Louisiana Public Facilities Authority, Revenue Bonds, Tulane University, Refunding Series 2016A, 5.000%, 12/15/21		No Opt. Call		A		1,791,504
		Louisiana Public Facilities Authority, Revenue Bonds, University of New Orleans Research and Technology Foundation, Inc- Student Housing Project, Refunding Series 2014:
	710	5.000%, 9/01/21 – AGM Insured		No Opt. Call		AA		764,635
	580	5.000%, 9/01/22 – AGM Insured		No Opt. Call		AA		641,950
	1,445	5.000%, 9/01/23 – AGM Insured		No Opt. Call		AA		1,636,333
	1,565	5.000%, 9/01/24 – AGM Insured		No Opt. Call		AA		1,810,157
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	1,600	5.000%, 7/01/19		No Opt. Call		AA–		1,613,072
	1,115	5.000%, 7/01/20		No Opt. Call		AA–		1,160,748
	7,265	5.000%, 7/01/26		7/23 at 100.00		AA–		8,159,322
		Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2017C:
	2,520	5.000%, 5/01/29		11/27 at 100.00		AA–		3,077,248
	3,000	5.000%, 5/01/30		11/27 at 100.00		AA–		3,641,040
	3,070	5.000%, 5/01/31		11/27 at 100.00		AA–		3,705,858
		Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Series 2012A-1:
	80	5.000%, 5/01/19		No Opt. Call		Aa2		80,223
	95	5.000%, 5/01/20		No Opt. Call		Aa2		98,393
	3,570	5.000%, 5/01/21		No Opt. Call		Aa2		3,817,115
	7,000	Louisiana State, General Obligation Bonds, Refunding Series 2014C, 5.000%, 8/01/22		No Opt. Call		AA–		7,756,630
	900	Louisiana State, General Obligation Bonds, Series 2012A, 5.000%, 8/01/19 (ETM)		No Opt. Call		N/R (4)		910,170
	6,245	Louisiana State, General Obligation Bonds, Series 2015A, 5.000%, 5/01/23		No Opt. Call		AA–		7,062,595

164

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–	$	2,923,120
	2,500	5.000%, 12/01/20		No Opt. Call		AA–		2,631,350
	3,600	5.000%, 12/01/21		No Opt. Call		AA–		3,901,536
		New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015:
	1,025	4.000%, 12/01/19		No Opt. Call		AA–		1,040,888
	1,500	5.000%, 12/01/20		No Opt. Call		AA–		1,578,810
	2,000	5.000%, 12/01/21		No Opt. Call		AA–		2,167,520
	7,900	New Orleans, Louisiana, General Obligation Bonds, Series 1998, 5.500%, 12/01/21 – FGIC Insured		No Opt. Call		A+		8,330,866
		New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015:
	1,000	5.000%, 6/01/24		No Opt. Call		A		1,139,420
	525	5.000%, 6/01/26		6/25 at 100.00		A		608,717
	1,100	New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/19		No Opt. Call		A–		1,124,277
	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		6,694,540
	2,295	Shreveport, Louisiana, General Obligation Bonds, Series 2014, 5.000%, 9/01/21		No Opt. Call		A		2,462,581
		Shreveport, Louisiana, Revenue Bonds, Independence Stadium Project, Refunding Series 2016:
	1,000	3.000%, 3/01/21 – BAM Insured		No Opt. Call		AA		1,022,850
	1,000	5.000%, 3/01/22 – BAM Insured		No Opt. Call		AA		1,090,970
		Terrebonne Levee and Conservation District, Louisiana, Public Improvement Sales Tax Bonds, Series 2013:
	1,710	5.000%, 7/01/21		No Opt. Call		A+		1,824,587
	1,680	5.000%, 7/01/22		No Opt. Call		A+		1,841,045
	224,510	Total Louisiana						246,197,000
		Maryland – 0.5%
	8,155	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+		8,170,657
		Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland, College Park Project, Refunding Series 2016:
	675	4.000%, 6/01/19 – AGM Insured		No Opt. Call		AA		677,531
	660	4.000%, 6/01/20 – AGM Insured		No Opt. Call		AA		677,642
		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+		576,558
	1,000	5.000%, 7/01/22		No Opt. Call		BBB+		1,095,530
	250	5.000%, 7/01/23		No Opt. Call		BBB+		280,125
	500	5.000%, 7/01/24		No Opt. Call		BBB+		572,250
	4,000	Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland Health, Series 2014, 5.000%, 7/01/19		No Opt. Call		BBB		4,031,480
	4,400	Montgomery County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2018B, 5.000%, 11/01/29		11/28 at 100.00		AAA		5,545,452

165

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Maryland (continued)
$	1,895	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 45 Series 2017C-3, 2.500%, 11/01/24		5/19 at 100.00		BB	$	1,895,057
	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		5/20 at 100.00		BB		1,265,466
	845	Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, TEMPS 85 Series 2017C-1, 3.500%, 11/01/26		5/20 at 100.00		BB		848,017
	24,190	Total Maryland						25,635,765
		Massachusetts – 2.1%
	3,825	Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/23		1/20 at 100.00		A+		3,921,696
		Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:
	595	5.000%, 7/01/19		No Opt. Call		BB+		598,713
	375	5.000%, 7/01/20		No Opt. Call		BB+		386,321
	555	5.000%, 7/01/21		No Opt. Call		BB+		584,160
	690	5.000%, 7/01/22		No Opt. Call		BB+		740,356
	625	5.000%, 7/01/23		No Opt. Call		BB+		681,656
	735	5.000%, 7/01/24		No Opt. Call		BB+		812,675
	795	5.000%, 7/01/25		7/24 at 100.00		BB+		877,243
	1,500	Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-1, 5.000%, 7/01/25		No Opt. Call		A–		1,735,155
		Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2:
	2,775	5.000%, 7/01/29		7/28 at 100.00		A–		3,302,028
	2,750	5.000%, 7/01/30		7/28 at 100.00		A–		3,248,987
	2,495	5.000%, 7/01/31		7/28 at 100.00		A–		2,929,953
	2,100	5.000%, 7/01/32		7/28 at 100.00		A–		2,456,454
		Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A:
	825	5.000%, 7/01/20		No Opt. Call		BBB+		857,884
	1,300	5.000%, 7/01/21		No Opt. Call		BBB+		1,389,193
	815	5.000%, 7/01/23		No Opt. Call		BBB+		912,849
	4,985	Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East, Series 2009C, 6.250%, 11/15/32 (Pre-refunded 5/15/19)		5/19 at 100.00		AA– (4)		5,013,066
		Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Eye and Ear Infirmary, Series 2010C:
	1,000	5.000%, 7/01/19 (ETM)		No Opt. Call		N/R (4)		1,008,450
	1,000	5.000%, 7/01/20 (ETM)		No Opt. Call		N/R (4)		1,042,300
	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		19,927,071
	14,000	Massachusetts State, General Obligation Bonds, Refunding Series 2015A, 5.000%, 7/01/23		No Opt. Call		Aa1		15,962,660
	16,400	Massachusetts State, General Obligation Bonds, Revenue Anticipation Note Series 2018B, 4.000%, 5/23/19		No Opt. Call		N/R		16,459,368

166

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Massachusetts (continued)
$	17,000	Massachusetts State, General Obligation Bonds, Series 2019B, 5.000%, 1/01/21 (WI/DD, Settling 5/03/19)		No Opt. Call		Aa1	$	17,957,780
	9,600	Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement Program, Series 2012A, 4.000%, 6/01/33		6/21 at 100.00		AA+		9,971,904
	106,845	Total Massachusetts						112,777,922
		Michigan – 2.1%
	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		1,522,980
		Marquettte, Michigan, Electric Utility System Revenue Bonds, Refunding Series 2016A:
	1,100	5.000%, 7/01/20		No Opt. Call		A		1,145,001
	1,100	5.000%, 7/01/21		No Opt. Call		A		1,175,724
	1,835	Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2017A, 5.000%, 12/01/21		No Opt. Call		AA–		1,994,718
	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+		4,565,576
	21,000	Michigan Finance Authority, State Aid Revenue Notes, Series 2018A-1, 4.000%, 8/20/19		No Opt. Call		N/R		21,187,950
	15,000	Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Senior Credit Group, Refunding Series 2010F-1, 4.000%, 11/15/47 (Mandatory Put 6/01/23)		No Opt. Call		AA+		16,342,500
	6,200	Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2018A, 3.550%, 10/01/33		10/27 at 100.00		AA		6,386,930
		Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Fixed Rate Series 2018C:
	3,505	3.550%, 6/01/29		12/27 at 100.00		AA+		3,736,400
	3,825	3.650%, 6/01/30		12/27 at 100.00		AA+		4,044,746
	3,810	3.700%, 12/01/30		12/27 at 100.00		AA+		4,051,097
	1,805	Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Fixed Rate Series 2019A, 3.350%, 12/01/34 (WI/DD, Settling 4/11/19)		6/28 at 100.00		AA+		1,838,393
	5,000	Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2016A, 3.100%, 12/01/31		6/26 at 100.00		AA+		5,062,600
		Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2008C:
	1,000	5.000%, 12/01/19		No Opt. Call		AA–		1,022,340
	1,000	5.000%, 12/01/20		No Opt. Call		AA–		1,055,420
	1,000	5.000%, 12/01/21		No Opt. Call		AA–		1,086,760
	6,030	Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/20		11/19 at 100.00		AA+		6,150,781
	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)		1,610,136
	8,485	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		8,248,268
	8,000	Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Edison Project, Refunding Series 2008, 1.450%, 8/01/29 (Mandatory Put 9/01/21)		No Opt. Call		Aa3		7,776,800

167

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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, Refunding Series 2012A:
$	1,100	4.000%, 5/01/19		No Opt. Call		Aa1	$	1,102,156
	1,000	5.000%, 5/01/21		No Opt. Call		Aa1		1,068,160
		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		767,111
	1,000	5.000%, 5/01/20		No Opt. Call		Aa3		1,036,920
	2,525	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		A+		2,798,230
	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		4,988,582
	108,740	Total Michigan						111,766,279
		Minnesota – 0.6%
		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		AAA		759,863
	1,615	5.000%, 2/01/25		2/20 at 100.00		AAA		1,660,220
	1,690	5.000%, 2/01/26		2/20 at 100.00		AAA		1,737,185
	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+		1,933,075
	2,500	Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Refunding Series 2008C-1, 5.500%, 2/15/25 – AGC Insured		2/20 at 100.00		AA		2,582,700
	19,420	Minnesota State, 911 Revenue Bonds, Public Safety Radio Communication System Project, Series 2016, 5.000%, 6/01/20		No Opt. Call		AA+		20,207,869
	895	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2013A, 5.000%, 1/01/23		No Opt. Call		A–		999,035
	2,880	Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Refunding Series 2014B, 5.000%, 5/01/22		No Opt. Call		AA–		3,155,357
	31,425	Total Minnesota						33,035,304
		Mississippi – 0.8%
	1,000	Lowndes County, Mississippi, Solid Waste Disposal and Pollution Control Refunding Revenue Bonds (Weyerhaeuser Company Project), Series 1992A, 6.800%, 4/01/22		No Opt. Call		BBB		1,113,810
	6,865	Mississippi Business Finance Corporation, Pollution Control Revenue, Mississippi Power, Series 2002, 3.200%, 9/01/28		3/24 at 100.00		A–		6,921,293
	9,385	Mississippi Business Finance Corporation, Revenue Bonds, Mississippi Power Company Project, First Series 2010, 2.750%, 12/01/40 (Mandatory Put 12/09/21)		No Opt. Call		A–		9,450,226
	20,430	Mississippi Business Finance Corporation, Revenue Bonds, System Energy Resources, Inc Project, Refunding Series 2019, 2.500%, 4/01/22		4/21 at 100.00		BBB+		20,521,322
	3,680	Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2015A, 5.000%, 9/01/24		No Opt. Call		BBB+		4,151,481
	41,360	Total Mississippi						42,158,132

168

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri – 0.5%
		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	$	748,539
	765	4.000%, 11/01/22		No Opt. Call		N/R		788,937
	755	4.000%, 11/01/23		No Opt. Call		N/R		780,202
	325	Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2017A, 5.000%, 3/01/20		No Opt. Call		BBB–		333,213
		Metropolitan St Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2011B:
	2,520	4.000%, 5/01/23 (Pre-refunded 5/01/21)		5/21 at 100.00		AAA		2,649,603
	2,695	4.000%, 5/01/24 (Pre-refunded 5/01/21)		5/21 at 100.00		AAA		2,833,604
		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+		551,254
	440	5.000%, 5/01/20		No Opt. Call		BBB+		452,690
	1,000	5.000%, 5/01/21		No Opt. Call		BBB+		1,053,000
	2,545	4.000%, 5/01/22		No Opt. Call		BBB+		2,659,372
	1,320	5.000%, 5/01/23		No Opt. Call		BBB+		1,443,618
		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		2,821,333
	5,000	5.000%, 1/01/26		1/25 at 100.00		A		5,820,350
		Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International Airport, Refunding Series 2015:
	1,700	5.000%, 7/01/20		No Opt. Call		A2		1,769,751
	1,725	5.000%, 7/01/21		No Opt. Call		A2		1,850,856
	1,000	5.000%, 7/01/22		No Opt. Call		A2		1,103,510
	1,085	5.000%, 7/01/23		No Opt. Call		A2		1,226,603
	26,590	Total Missouri						28,886,435
		Montana – 0.7%
	30,720	Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2016, 2.000%, 8/01/23		No Opt. Call		A		30,837,351
		Lewis and Clark County School District 9 East Helena, Montana, General Obligation Bonds, Refunding Series 2018:
	1,000	5.000%, 7/01/27		No Opt. Call		A+		1,222,240
	1,055	5.000%, 7/01/28		No Opt. Call		A+		1,308,917
	1,335	5.000%, 7/01/29		7/28 at 100.00		A+		1,650,167
	1,295	Montana Facility Finance Authority, Hospital Revenue Bonds, Benefits Health System Obligated Group, Refunding Series 2016, 5.000%, 2/15/21		No Opt. Call		A+		1,370,822
	35,405	Total Montana						36,389,497
		Nebraska – 1.1%
	8,000	Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Series 2018A, 5.000%, 3/01/50 (Mandatory Put 1/01/24)		10/23 at 100.43		A3		8,871,440
	4,590	Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014, 5.000%, 5/15/21		No Opt. Call		BBB+		4,854,201

169

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nebraska (continued)
$	1,000	Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/22		No Opt. Call		A	$	1,104,040
	830	Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012, 5.000%, 6/15/19		No Opt. Call		AA–		835,769
	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–		1,021,680
	2,000	Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019A, 3.150%, 9/01/34 (WI/DD, Settling 4/30/19)		3/28 at 100.00		AA+		2,011,500
	1,730	Nebraska Public Power District, General Revenue Bonds, Series 2015A-2, 5.000%, 1/01/24		1/22 at 100.00		A+		1,885,077
	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		1,820,110
	2,500	Public Power Generation Agency, Nebraska, Whelan Energy Center Unit 2 Revenue Bonds, Refunding Series 2015A, 5.000%, 1/01/20		No Opt. Call		A2		2,560,925
	3,130	University of Nebraska Facilities Corporation, UNMC Cancer Center Bonds, Series 2014A, 5.000%, 2/15/21		No Opt. Call		Aa1		3,329,944
	27,660	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) (AMT)		No Opt. Call		A		27,865,514
	54,085	Total Nebraska						56,160,200
		Nevada – 0.7%
		Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A:
	1,000	5.000%, 7/01/20 (AMT)		No Opt. Call		A+		1,037,880
	2,000	5.000%, 7/01/21 (AMT)		No Opt. Call		A+		2,132,660
	10,280	Clark County, Nevada, Airport Revenue Bonds, Junior Subordinate Lien Notes Series 2018A, 5.000%, 7/01/21		No Opt. Call		A+		11,020,674
	3,840	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+		3,821,952
	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+		1,822,609
	5,000	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/24		6/21 at 100.00		AA+		5,356,150
	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) (AMT)		No Opt. Call		A+		9,991,100
	33,945	Total Nevada						35,183,025
		New Hampshire – 0.2%
	10,055	New Hampshire Business Finance Authority, Pollution Control Revenue Bonds, United Illuminating Company, Refunding Series 2003A, 2.800%, 10/01/33 (Mandatory Put 10/02/23)		No Opt. Call		A–		10,306,475

170

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Hampshire (continued)
		New Hampshire Health and Education Facilities Authority, Revenue Bonds, Elliot Hospital, Series 2016:
$	600	5.000%, 10/01/19		No Opt. Call		A–	$	609,372
	1,265	5.000%, 10/01/20		No Opt. Call		A–		1,321,470
	1,185	5.000%, 10/01/21		No Opt. Call		A–		1,272,003
	13,105	Total New Hampshire						13,509,320
		New Jersey – 4.6%
	3,890	Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 5.250%, 6/01/20 – NPFG Insured		5/19 at 100.00		Baa2		3,901,864
	1,950	Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (AMT)		No Opt. Call		BBB–		2,088,665
		Millville, New Jersey, General Obligation Bonds, Improvement Series 2011:
	1,445	5.000%, 11/01/19 – AGM Insured		No Opt. Call		AA		1,473,857
	920	5.000%, 11/01/20 – AGM Insured		No Opt. Call		AA		969,505
		New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012:
	245	4.000%, 6/15/19		No Opt. Call		BBB+		246,024
	5,000	5.000%, 6/15/19		No Opt. Call		BBB+		5,030,900
	10,990	5.000%, 6/15/20		No Opt. Call		BBB+		11,380,585
	2,825	5.000%, 6/15/21		No Opt. Call		BBB+		3,001,873
	1,425	5.000%, 6/15/22		No Opt. Call		BBB+		1,551,027
	520	5.000%, 6/15/22		No Opt. Call		AA		565,989
	6,565	5.000%, 6/15/23		6/22 at 100.00		BBB+		7,131,888
	4,520	5.000%, 6/15/24		6/22 at 100.00		BBB+		4,895,160
	8,600	5.000%, 6/15/25		6/22 at 100.00		BBB+		9,293,418
	6,000	5.000%, 6/15/26		6/22 at 100.00		BBB+		6,470,220
	775	4.250%, 6/15/27		6/22 at 100.00		BBB+		816,129
	7,240	New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A, 3.375%, 7/01/30		7/27 at 100.00		BBB+		7,264,544
	25,320	New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/21		No Opt. Call		A–		26,849,075
	17,000	New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB, 5.000%, 6/15/22		No Opt. Call		A–		18,393,490
		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–		5,236,150
	5,000	5.000%, 11/01/21		No Opt. Call		A–		5,353,900
	1,545	New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University Issue, Series 2007A, 5.250%, 7/01/21 – AGC Insured		No Opt. Call		AA		1,612,795
	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)		353,416
	4,260	New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 5.000%, 7/01/19		No Opt. Call		BB+		4,282,109
	2,000	New Jersey Sports and Exposition Authority, State Contract Bonds, Refunding Series 2018A, 4.000%, 9/01/19		No Opt. Call		A–		2,016,040

171

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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 2018A:
$	800	4.000%, 6/15/19		No Opt. Call		A+	$	803,536
	575	4.000%, 6/15/20		No Opt. Call		A+		588,725
	14,500	3.000%, 6/15/21		No Opt. Call		A+		14,767,960
	2,100	5.000%, 6/15/21		No Opt. Call		A+		2,228,688
	14,880	3.000%, 6/15/22		No Opt. Call		A+		15,242,179
	1,165	5.000%, 6/15/22		No Opt. Call		A+		1,265,015
	3,525	5.000%, 6/15/24		No Opt. Call		A+		3,989,806
	5,045	5.000%, 6/15/28		6/26 at 100.00		A+		5,811,790
	2,715	5.000%, 6/15/29		6/26 at 100.00		A+		3,103,136
	1,000	New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2018A, 5.000%, 6/15/19		No Opt. Call		A–		1,006,640
	1,125	Parsippany-Troy Hills Township, New Jersey, General Obligation Bonds, Refunding Series 2012, 4.000%, 7/15/20		No Opt. Call		AA		1,161,990
	1,700	Passaic Valley Sewer Commissioners, New Jersey, Sewer Revenue Bonds, Series 2010G, 5.750%, 12/01/22		No Opt. Call		A3		1,922,972
	4,215	Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (AMT)		No Opt. Call		BBB–		4,503,390
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A:
	2,345	5.000%, 6/01/22		No Opt. Call		A		2,550,539
	1,325	5.000%, 6/01/23		No Opt. Call		A		1,472,367
	5,500	5.000%, 6/01/24		No Opt. Call		A		6,219,015
	2,040	5.000%, 6/01/25		No Opt. Call		A		2,347,204
	5,000	5.000%, 6/01/26		No Opt. Call		A		5,840,050
	5,905	5.000%, 6/01/29		6/28 at 100.00		A–		6,985,084
	2,735	4.000%, 6/01/37		6/28 at 100.00		A–		2,781,331
	17,800	Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 3.200%, 6/01/27		No Opt. Call		BBB+		18,357,496
		Union County, New Jersey, General Obligation Bonds, Refunding Series 2017:
	6,695	3.000%, 3/01/28		9/25 at 100.00		Aaa		7,024,595
	6,105	3.000%, 3/01/29		9/25 at 100.00		Aaa		6,355,793
	232,180	Total New Jersey						246,507,924
		New Mexico – 1.7%
	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+		10,938,561
	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+		25,714,520
	4,000	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+		3,963,000
	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		A–		7,235,462

172

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New Mexico (continued)
$	11,120	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		A–	$	11,044,384
	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		Aa2		15,514,692
		San Juan County, New Mexico, Gross Receipts Tax Revenue Bonds, Refunding Series 2015A:
	1,340	5.000%, 6/15/19		No Opt. Call		A+		1,348,951
	1,305	5.000%, 6/15/20		No Opt. Call		A+		1,356,182
	1,455	5.000%, 6/15/21		No Opt. Call		A+		1,551,627
	1,510	5.000%, 6/15/22		No Opt. Call		A+		1,655,338
	1,565	5.000%, 6/15/23		No Opt. Call		A+		1,757,166
	1,625	5.000%, 6/15/24		No Opt. Call		A+		1,865,906
	1,690	5.000%, 6/15/25		No Opt. Call		A+		1,982,184
	1,760	5.000%, 6/15/26		6/25 at 100.00		A+		2,051,984
	87,070	Total New Mexico						87,979,957
		New York – 5.8%
	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+		544,965
		Dormitory Authority of the State of New York, Mental Health Services Facilities Improvement Revenue Bonds, Series 2010A:
	5	5.000%, 8/15/19 (ETM)		No Opt. Call		N/R (4)		5,066
	1,620	5.000%, 8/15/19		No Opt. Call		AA		1,640,525
	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		1,395,424
	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–		403,983
		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, 144A		No Opt. Call		BBB–		1,518,060
	1,000	4.000%, 12/01/20, 144A		No Opt. Call		BBB–		1,029,430
	1,200	4.000%, 12/01/21, 144A		No Opt. Call		BBB–		1,255,044
	1,000	5.000%, 12/01/22, 144A		No Opt. Call		BBB–		1,096,270
	2,000	5.000%, 12/01/23, 144A		No Opt. Call		BBB–		2,239,260
		Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A:
	5	5.000%, 12/15/21 (ETM)		No Opt. Call		N/R (4)		5,476
	12,280	5.000%, 12/15/21		No Opt. Call		AA+		13,408,409
		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		398,988
	515	0.000%, 6/01/21 – AGM Insured		No Opt. Call		AA		495,677
	640	0.000%, 6/01/22 – AGM Insured		No Opt. Call		AA		602,701
	1,315	0.000%, 6/01/23 – AGM Insured		No Opt. Call		AA		1,208,893
	3,805	Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.000%, 4/01/19 (ETM)		No Opt. Call		N/R (4)		3,805,000
	1,000	Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012B, 5.000%, 9/01/21		No Opt. Call		A–		1,081,400

173

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	5,000	Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Climate Bond Certified, Refunding Green Series 2016B-2, 5.000%, 11/15/32		11/26 at 100.00		AA	$	5,964,900
	25,000	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2018B-1, Subseries A-J, 5.000%, 5/15/20		No Opt. Call		N/R		25,887,250
	10,000	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2018B-2, Subseries A-E, 5.000%, 5/15/21		No Opt. Call		N/R		10,645,900
	10,000	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Note Series 2019A, 4.000%, 2/03/20		No Opt. Call		N/R		10,191,400
	10,000	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Bond Anticipation Series 2017C-2A, 4.000%, 5/15/19		No Opt. Call		N/R		10,029,000
	5,135	Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012H, 5.000%, 11/15/20		No Opt. Call		AA–		5,409,517
		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–		2,254,818
	1,030	5.000%, 7/01/24		No Opt. Call		A–		1,179,937
	650	5.000%, 7/01/25		7/24 at 100.00		A–		743,808
	1,000	5.000%, 7/01/26		7/24 at 100.00		A–		1,140,520
	1,500	5.000%, 7/01/27		7/24 at 100.00		A–		1,700,955
		New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Series 2018C-2A:
	3,500	2.200%, 11/01/21		11/20 at 100.00		AA+		3,523,625
	34,500	2.350%, 7/01/22		3/21 at 100.00		AA+		34,868,805
	13,000	2.750%, 5/01/50(Mandatory Put 12/29/23)		12/22 at 100.00		AA+		13,234,520
	3,730	New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Series 2019A-3A, 3.450%, 11/01/34		2/27 at 100.00		AA+		3,837,872
	13,495	New York City, New York, General Obligation Bonds, Fiscal 2008 Series J-4, 5.000%, 8/01/24		No Opt. Call		Aa1		15,767,693
	14,290	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) (AMT)		No Opt. Call		A–		14,412,322
	5,000	New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004A, 2.875%, 5/15/32 (Mandatory Put 7/01/25)		No Opt. Call		A1		5,157,950
	50,000	New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004B, 3.000%, 5/15/32 (Mandatory Put 7/01/25) (AMT)		No Opt. Call		A1		51,941,000
		New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2018I:
	5,000	2.550%, 11/01/22		9/20 at 100.00		Aa2		5,084,900
	5,250	2.650%, 5/01/23		4/21 at 100.00		Aa2		5,352,480
	3,000	2.700%, 11/01/23		8/22 at 100.00		Aa2		3,066,630
	9,100	New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2019C, 3.500%, 11/01/34		5/28 at 100.00		Aa2		9,355,528

174

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	5,000	New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2018J, 2.500%, 5/01/22		6/20 at 100.00		Aa2	$	5,027,100
		New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2019E:
	4,000	1.950%, 5/01/22		11/20 at 100.00		Aa2		4,004,600
	2,250	2.100%, 5/01/23		9/20 at 100.00		Aa2		2,252,250
	5,455	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A2		5,470,110
		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–		571,890
	500	5.000%, 7/01/27		7/24 at 100.00		A–		567,250
		TSASC Inc, New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A:
	1,285	5.000%, 6/01/20		No Opt. Call		A		1,330,605
	3,000	5.000%, 6/01/21		No Opt. Call		A		3,192,540
	2,500	5.000%, 6/01/22		No Opt. Call		A		2,728,775
	3,335	5.000%, 6/01/23		No Opt. Call		A		3,723,994
	1,900	5.000%, 6/01/26		No Opt. Call		A		2,227,408
		Yonkers, New York, General Obligation Bonds, Refunding Series 2012C:
	2,440	3.000%, 8/15/22		No Opt. Call		A		2,521,398
	2,510	3.000%, 8/15/23		No Opt. Call		A		2,601,766
	296,280	Total New York						309,105,587
		North Carolina – 0.6%
	3,330	Charlotte, North Carolina, Water and Sewer System Revenue Bonds, Refunding Series 2009, 5.250%, 7/01/22		7/19 at 100.00		AAA		3,360,436
		North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A:
	3,005	5.000%, 1/01/26		No Opt. Call		A		3,610,177
	2,800	5.000%, 1/01/27		1/26 at 100.00		A		3,342,108
		North Carolina State, Capital Improvement Limited Obligation Bonds, Series 2009A:
	1,090	5.000%, 5/01/19		No Opt. Call		AA+		1,093,074
	3,605	5.000%, 5/01/21 (Pre-refunded 5/01/19)		5/19 at 100.00		AA+ (4)		3,615,238
	13,655	Wake County, North Carolina, General Obligation Bonds, Refunding Series 2016A, 5.000%, 3/01/23		No Opt. Call		AAA		15,441,347
	235	Wilmington, North Carolina, Limited Obligation Bonds, Refunding Series 2014A, 5.000%, 6/01/20		No Opt. Call		AA+		244,534
	27,720	Total North Carolina						30,706,914
		North Dakota – 0.4%
		Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Series 2014A:
	1,115	5.000%, 7/01/21 (ETM)		No Opt. Call		N/R (4)		1,197,554
	100	5.000%, 7/01/22 (Pre-refunded 7/01/21)		7/21 at 100.00		N/R (4)		107,404

175

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		North Dakota (continued)
		Williston, North Dakota, County-Wide Public Safety Sales Tax Revenue Bonds, Series 2015A:
$	1,000	4.000%, 7/15/19		No Opt. Call		BBB+	$	1,005,210
	2,105	4.000%, 7/15/20		No Opt. Call		BBB+		2,147,079
	2,185	4.000%, 7/15/21		No Opt. Call		BBB+		2,253,500
	2,275	4.000%, 7/15/22		No Opt. Call		BBB+		2,371,005
	2,365	5.000%, 7/15/23		7/22 at 100.00		BBB+		2,555,028
	2,485	5.000%, 7/15/24		7/22 at 100.00		BBB+		2,683,005
	5,485	5.000%, 7/15/25		7/22 at 100.00		BBB+		5,914,804
		Williston, North Dakota, General Obligation Bonds, Refunding Improvement Series 2014:
	725	4.000%, 5/01/19		No Opt. Call		A+		726,298
	800	4.000%, 5/01/20		No Opt. Call		A+		818,824
	800	4.000%, 5/01/21		No Opt. Call		A+		832,552
	21,440	Total North Dakota						22,612,263
		Ohio – 5.9%
		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–		2,163,780
	2,655	5.000%, 11/15/22		5/22 at 100.00		AA–		2,906,800
	6,000	Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy Health, Series 2017A, 5.000%, 8/01/21		No Opt. Call		AA–		6,413,580
	20,000	Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy Health, Series 2017B, 5.000%, 8/01/47 (Mandatory Put 5/05/22)		No Opt. Call		A+		21,925,000
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
	66,660	5.125%, 6/01/24		4/19 at 100.00		B–		63,633,636
	9,740	5.375%, 6/01/24		4/19 at 100.00		B–		9,384,490
	5,875	5.875%, 6/01/30		4/19 at 100.00		B–		5,750,156
	9,070	5.750%, 6/01/34		4/19 at 100.00		B–		8,770,146
		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–		1,081,320
	1,000	5.000%, 12/01/22		No Opt. Call		A–		1,110,800
	1,225	5.000%, 12/01/24		No Opt. Call		A–		1,420,718
	1,000	5.000%, 12/01/25		No Opt. Call		A–		1,179,370
		Cleveland, Ohio, Airport System Revenue Bonds, Refunding Series 2016A:
	725	5.000%, 1/01/20 – AGM Insured		No Opt. Call		AA		743,277
	950	5.000%, 1/01/21 – AGM Insured		No Opt. Call		AA		1,003,894
		Cleveland, Ohio, General Obligation Bonds, Series 2011:
	1,470	5.000%, 12/01/19		No Opt. Call		AA+		1,502,943
	1,540	5.000%, 12/01/20		12/19 at 100.00		AA+		1,574,712
	1,620	5.000%, 12/01/21 (Pre-refunded 12/01/19)		12/19 at 100.00		AA+ (4)		1,657,827
	5,255	Columbus, Ohio, General Obligation Bonds, Various Purpose Series 2018A, 5.000%, 4/01/30		10/28 at 100.00		AAA		6,565,912
	5,515	Cuyahoga County, Ohio, Certificates of Participation, Convention Hotel Project, Series 2014, 5.000%, 12/01/20		No Opt. Call		AA–		5,802,883

176

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
		Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013:
$	1,015	5.000%, 6/15/19		No Opt. Call		Baa3	$	1,020,877
	1,000	5.000%, 6/15/21		No Opt. Call		Baa3		1,059,720
	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		1,140,060
	3,075	Franklin County, Ohio, Revenue Bonds, CHE Trinity Health Credit Group, Variable Rate Demand Obligation Series 2013, 1.750%, 12/01/46 (Mandatory Put 8/01/19)		8/19 at 100.00		AA–		3,075,369
		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		1,252,707
	340	5.000%, 5/15/22		No Opt. Call		AA		374,418
	1,040	5.000%, 5/15/23		No Opt. Call		AA		1,174,680
	1,600	Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2014, 5.000%, 2/01/20		No Opt. Call		A		1,643,728
		JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 2013A:
	2,600	5.000%, 1/01/20		No Opt. Call		AA		2,666,118
	1,700	5.000%, 1/01/23		No Opt. Call		AA		1,904,833
	1,485	Marysville, Union County, Ohio, General Obligation Bonds, Refunding Series 2007, 5.000%, 12/01/20 – AMBAC Insured		No Opt. Call		Aa3		1,537,094
	3,035	Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28		5/19 at 100.00		BBB+		3,046,472
	10,000	Montgomery County, Ohio, Revenue Bonds, Miami Valley Hospital, Series 2011A, 5.750%, 11/15/21		11/20 at 100.00		A		10,562,000
		Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013:
	270	5.000%, 2/15/20		No Opt. Call		BB+		275,222
	2,000	5.000%, 2/15/21		No Opt. Call		BB+		2,081,020
	5,120	Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (6)		No Opt. Call		N/R		4,403,200
	4,385	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 0.000%, 3/01/23 (6)		No Opt. Call		N/R		3,771,100
	3,820	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18 (6)		No Opt. Call		CCC+		3,820,000
	35,230	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (6)		No Opt. Call		N/R		30,297,800
	1,015	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 (6)		No Opt. Call		N/R		872,900
	35	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2006B, 3.125%, 1/01/34 (6)		No Opt. Call		N/R		30,100

177

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Ohio (continued)
$	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) (6)		No Opt. Call		N/R	$	2,171,500
	1,040	Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, Series 2017, 3.750%, 1/15/28 (AMT), 144A		No Opt. Call		N/R		1,085,094
	3,250	Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2019A, 3.500%, 9/01/34		3/28 at 100.00		Aaa		3,382,698
	6,460	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011A, 5.000%, 9/15/21		No Opt. Call		AA+		6,998,958
	12,625	Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011C, 5.000%, 9/15/20		No Opt. Call		AA+		13,255,745
	17,500	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc, Series 2018C, 5.000%, 1/15/42 (Mandatory Put 9/15/21)		No Opt. Call		A		18,823,875
	26,000	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc, Series 2018D, 5.000%, 1/15/39 (Mandatory Put 9/15/23)		No Opt. Call		A		29,351,400
	5,380	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) (6)		No Opt. Call		N/R		4,626,800
	3,315	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19 (6)		No Opt. Call		N/R		2,850,900
	2,245	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) (6)		No Opt. Call		N/R		1,930,700
	1,175	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) (6)		No Opt. Call		N/R		1,010,500
	7,135	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) (6)		No Opt. Call		N/R		6,136,100
	120	Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory Put 6/03/19) (6)		No Opt. Call		N/R		103,200
	1,000	Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc, Series 2007A, 6.100%, 7/01/17 (AMT) (6)		No Opt. Call		N/R		10
	314,005	Total Ohio						312,328,142
		Oklahoma – 3.0%
		Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012:
	1,435	4.000%, 9/01/19		No Opt. Call		AA–		1,449,723
	4,185	4.500%, 9/01/20		No Opt. Call		AA–		4,355,748
		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		AA–		1,020,867
	3,795	4.000%, 9/01/24		No Opt. Call		AA–		4,183,039

178

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
		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+	$	6,047,962
	6,505	5.000%, 6/01/23		No Opt. Call		A+		7,322,158
		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		1,357,619
	1,250	5.000%, 9/01/29		9/27 at 100.00		A		1,493,700
	2,755	Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Norman Public Schools Project, Series 2014, 5.000%, 7/01/19		No Opt. Call		A+		2,777,784
	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		1,156,870
	2,150	Creek County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Sapulpa Public Schools Project, Series 2015, 5.000%, 9/01/20		No Opt. Call		A+		2,250,211
	1,955	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		2,347,720
		Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018:
	385	5.000%, 9/01/24		No Opt. Call		A–		439,778
	310	5.000%, 9/01/25		No Opt. Call		A–		360,859
	200	5.000%, 9/01/26		No Opt. Call		A–		236,554
	450	5.000%, 9/01/27		No Opt. Call		A–		539,959
	500	5.000%, 9/01/29		9/28 at 100.00		A–		604,995
	350	5.000%, 9/01/30		9/28 at 100.00		A–		420,795
	1,100	5.000%, 9/01/31		9/28 at 100.00		A–		1,309,924
	300	5.000%, 9/01/32		9/28 at 100.00		A–		355,593
		Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Minco Public Schools Project, Series 2018:
	1,305	5.000%, 9/01/31		9/28 at 100.00		A–		1,535,045
	1,000	5.000%, 9/01/32		9/28 at 100.00		A–		1,169,940
	1,195	5.000%, 9/01/33		9/28 at 100.00		A–		1,394,099
		Kay County Public Buildings Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Ponca City Public Schools Project, Series 2016:
	5,015	5.000%, 9/01/20		No Opt. Call		A–		5,243,734
	4,395	5.000%, 9/01/21		No Opt. Call		A–		4,697,596
		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–		1,102,482
	1,000	5.000%, 9/01/27		9/26 at 100.00		A–		1,176,680
	1,030	5.000%, 9/01/28		9/26 at 100.00		A–		1,209,797
		Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Midwest City-Del City Public Schools Project, Series 2018:
	1,500	5.000%, 10/01/21		No Opt. Call		A+		1,618,140
	425	5.000%, 10/01/22		No Opt. Call		A+		470,381
		Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Western Heights Public Schools Project, Series 2018A:
	1,275	5.000%, 9/01/23		No Opt. Call		A+		1,440,941
	3,000	5.000%, 9/01/24		No Opt. Call		A+		3,464,940

179

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma (continued)
		Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:
$	575	5.000%, 8/15/22		No Opt. Call		Baa3	$	624,824
	2,295	5.000%, 8/15/24		No Opt. Call		Baa3		2,583,344
	1,850	5.000%, 8/15/25		No Opt. Call		Baa3		2,116,326
	1,000	5.000%, 8/15/26		No Opt. Call		Baa3		1,160,640
	3,650	5.000%, 8/15/27		No Opt. Call		Baa3		4,292,035
	1,000	5.000%, 8/15/28		No Opt. Call		Baa3		1,185,570
	1,970	Oklahoma Development Finance Authority, Solid Waste Disposal Revenue Bonds, Series 2004A, 2.375%, 12/01/21		No Opt. Call		A–		1,979,042
		Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2014:
	525	5.000%, 9/01/19		No Opt. Call		A–		532,124
	685	5.000%, 9/01/20		No Opt. Call		A–		716,243
	745	5.000%, 9/01/21		No Opt. Call		A–		795,206
		Rogers County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Verdigris Public Schools Project, Series 2018:
	1,675	3.000%, 9/01/20		No Opt. Call		A+		1,704,798
	1,780	3.000%, 9/01/22		No Opt. Call		A+		1,847,266
	5,245	4.000%, 9/01/24		No Opt. Call		A+		5,784,134
		Rogers County Industrial Development Authority, Oklahoma, Capital Improvement Revenue Bonds, Refunding Series 2017:
	765	3.000%, 4/01/21		No Opt. Call		N/R		780,055
	800	3.000%, 4/01/22		No Opt. Call		N/R		822,600
	825	3.000%, 4/01/23		No Opt. Call		N/R		855,121
	850	3.000%, 4/01/24		No Opt. Call		N/R		882,648
	725	4.000%, 4/01/25		No Opt. Call		N/R		791,961
	770	4.000%, 4/01/26		4/25 at 100.00		N/R		838,153
	715	4.000%, 4/01/27		4/25 at 100.00		N/R		774,295
		Stillwater Utilities Authority, Oklahoma, Utility System and Sales Tax Revenue Bonds, Series 2014A:
	175	4.000%, 10/01/19		No Opt. Call		AA–		177,160
	645	5.000%, 10/01/21		No Opt. Call		AA–		697,445
		Texas County Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Guymon Public Schools Project, Series 2018:
	1,370	5.000%, 12/01/19		No Opt. Call		A		1,398,948
	1,000	4.000%, 12/01/21		No Opt. Call		A		1,055,180
	850	4.000%, 12/01/23		No Opt. Call		A		924,494
	1,100	5.000%, 12/01/25		No Opt. Call		A		1,288,353
	7,635	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–		7,741,814
	1,610	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–		1,732,730
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016:
	1,065	5.000%, 9/01/22		No Opt. Call		AA–		1,181,362
	6,340	5.000%, 9/01/23		No Opt. Call		AA–		7,205,473

180

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 2019A:
$	5,915	5.000%, 9/01/27		No Opt. Call		AA–	$	7,208,374
	10,000	5.000%, 9/01/28		No Opt. Call		AA–		12,336,300
		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+		631,480
	765	5.000%, 9/01/23		No Opt. Call		A+		866,294
	600	5.000%, 9/01/24		No Opt. Call		A+		695,328
	1,280	5.000%, 9/01/25		No Opt. Call		A+		1,509,261
		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–		2,265,753
	2,000	5.000%, 9/01/22		No Opt. Call		AA–		2,218,520
		Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Owasso Public Schools Project, Series 2018:
	1,500	5.000%, 9/01/20		No Opt. Call		A+		1,569,915
	1,650	5.000%, 9/01/21		No Opt. Call		A+		1,778,601
	1,500	5.000%, 9/01/22		No Opt. Call		A+		1,661,790
	1,000	5.000%, 9/01/23		No Opt. Call		A+		1,132,410
		Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019:
	1,200	5.000%, 3/01/23		No Opt. Call		A–		1,331,880
	1,200	5.000%, 3/01/25		No Opt. Call		A–		1,385,652
	1,625	5.000%, 3/01/27		No Opt. Call		A–		1,929,557
	142,285	Total Oklahoma						157,546,092
		Oregon – 1.2%
		Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A:
	1,800	0.000%, 6/15/21		No Opt. Call		AA+		1,829,286
	1,745	0.000%, 6/15/22		No Opt. Call		AA+		1,829,510
	1,785	0.000%, 6/15/23		No Opt. Call		AA+		1,926,176
	2,315	0.000%, 6/15/24		No Opt. Call		AA+		2,542,264
	1,305	0.000%, 6/15/25		No Opt. Call		AA+		1,466,768
	1,085	0.000%, 6/15/26		No Opt. Call		AA+		1,243,790
	1,000	0.000%, 6/15/27		No Opt. Call		AA+		1,161,420
		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+		13,189,055
	5,000	5.000%, 6/15/26		6/25 at 100.00		AA+		5,954,350
		Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2017B:
	2,330	5.000%, 6/15/27		No Opt. Call		AA+		2,893,394
	2,000	5.000%, 6/15/28		6/27 at 100.00		AA+		2,466,040
		Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2018:
	1,400	4.000%, 6/15/23		No Opt. Call		Aa1		1,537,060
	1,000	5.000%, 6/15/25		No Opt. Call		Aa1		1,192,820
	11,400	Oregon State Business Development Commission, Recovery Zone Facility Revenue Bonds, Intel Corporation Project, 232 Series 2010, 2.400%, 12/01/40 (Mandatory Put 8/14/23)		No Opt. Call		A+		11,580,576

181

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oregon (continued)
$	7,500	Oregon State Business Development Commission, 5.000%, 3/01/49 (Mandatory Put 3/01/22) (AMT)		No Opt. Call		A+	$	8,155,500
	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		1,054,420
	5,000	Portland, Oregon, Tax Anticipation Notes, Fire & Police Disability and Retirement Fund, Series 2018, 4.000%, 6/26/19		No Opt. Call		N/R		5,028,850
	58,760	Total Oregon						65,051,279
		Pennsylvania – 5.8%
		Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A:
	1,170	5.000%, 4/01/22		No Opt. Call		A		1,268,994
	1,405	5.000%, 4/01/23		No Opt. Call		A		1,559,634
	2,415	5.000%, 4/01/24		No Opt. Call		A		2,736,461
	2,520	5.000%, 4/01/25		No Opt. Call		A		2,906,719
	2,000	5.000%, 4/01/26		No Opt. Call		A		2,344,880
	4,245	5.000%, 4/01/27		No Opt. Call		A		5,043,018
	1,000	Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018, 5.000%, 5/01/23, 144A		No Opt. Call		Ba3		1,071,880
		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		1,780,293
	1,650	4.000%, 2/15/21 – AGM Insured		No Opt. Call		AA		1,709,615
	5,055	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) (6)		No Opt. Call		N/R		4,347,300
	4,865	Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (6)		No Opt. Call		N/R		4,183,900
	1,940	Berks County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Tower Health Project, Series 2017, 5.000%, 11/01/27		No Opt. Call		A		2,328,213
	1,000	Capital Region Water, Pennsylvania, Water Revenue Bonds, Series 2018, 5.000%, 7/15/25		No Opt. Call		A+		1,176,120
		Centre County, Pennsylvania, General Obligation Bonds, Series 2012A:
	40	3.000%, 7/01/19 (ETM)		No Opt. Call		N/R (4)		40,137
	1,080	3.000%, 7/01/19		No Opt. Call		AA		1,083,802
	1,250	Chester, Delaware County, Pennsylvania, Tax and Revenue Anticipation Notes, Series 2019, 5.000%, 9/30/19, 144A		7/19 at 100.00		N/R		1,251,700
	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		7,966,556
		Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018:
	2,000	5.000%, 6/01/21		No Opt. Call		A1		2,134,080
	2,000	5.000%, 6/01/22		No Opt. Call		A1		2,190,300
	2,515	5.000%, 6/01/23		No Opt. Call		A1		2,819,139
	3,175	5.000%, 6/01/24		No Opt. Call		A1		3,637,725
	450	Dallas Area Municipal Authority, Pennsylvania, Revenue Bonds, Misericordia University, Series 2014, 5.000%, 5/01/19		No Opt. Call		Baa3		450,864

182

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
		Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Refunding Series 2018B:
$	8,505	5.000%, 1/01/23		No Opt. Call		A+	$	9,510,036
	6,665	5.000%, 1/01/24		No Opt. Call		A+		7,636,224
	13,475	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		13,232,180
	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		A		8,931,140
	375	Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.500%, 12/15/19 (ETM)		No Opt. Call		N/R (4)		390,251
	1,080	Lycoming County Authority, Pennsylvania, Revenue Bonds, Pennsylvania College of Technology, Series 2012, 4.000%, 5/01/19		No Opt. Call		A		1,081,890
	1,400	Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, Series 2016, 5.000%, 7/01/20		No Opt. Call		A+		1,452,850
	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 (Pre-refunded 6/01/22)		6/22 at 100.00		N/R (4)		3,803,659
	1,235	Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A, 5.000%, 1/15/20		No Opt. Call		Ba1		1,259,712
	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+		5,008,350
	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+		6,262,000
	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+		5,011,700
	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+		7,512,525
	504	Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Series 2013A0 & AE2, 5.000%, 12/31/23		5/19 at 100.00		N/R		151,250
	107	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%)		No Opt. Call		N/R		31,990
	5,945	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) (6)		No Opt. Call		N/R		5,112,700
	3,565	Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Shippingport Project, First Energy Guarantor, Series 2006A, 2.550%, 11/01/41 (Mandatory Put 6/01/19) (6)		No Opt. Call		N/R		3,065,900

183

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	8,750	Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Project, Series 2009, 2.800%, 12/01/33 (Mandatory Put 12/01/21)		No Opt. Call		A–	$	8,889,300
		Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B:
	335	5.000%, 1/01/20		7/19 at 100.00		Aaa		337,881
	365	5.000%, 7/01/20		7/19 at 100.00		Aaa		368,146
	2,300	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing Program-Mount Aloysius College Project, Series 2011R-1, 2.250%, 11/01/41 (Mandatory Put 5/01/21)		No Opt. Call		A–		2,299,103
	2,250	Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges & Universities of Pennsylvania Financing Program, York College Project, Series 2014T-3, 2.850%, 5/01/34 (Mandatory Put 5/01/21)		No Opt. Call		A–		2,279,070
		Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges and Universities of Pennsylvania Financing Program-Messiah College Project, Series 2001-14:
	1,850	2.200%, 11/01/31(Mandatory Put 11/01/21)		No Opt. Call		A–		1,839,196
	3,500	2.720%, 11/01/31(Mandatory Put 5/01/21)		11/19 at 100.00		A–		3,501,330
		Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A:
	3,390	3.000%, 4/01/27 (AMT)		No Opt. Call		AA+		3,452,376
	3,345	3.050%, 10/01/27 (AMT)		4/27 at 100.00		AA+		3,411,733
	8,750	3.400%, 10/01/32 (AMT)		4/27 at 100.00		AA+		8,789,287
	1,025	Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128A, 3.650%, 10/01/32 (AMT)		10/27 at 100.00		AA+		1,047,909
		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2:
	2,390	5.000%, 6/01/21		No Opt. Call		A3		2,550,226
	15,000	5.000%, 6/01/22		No Opt. Call		A3		16,422,300
	23,660	5.000%, 6/01/23		No Opt. Call		A3		26,480,745
	12,485	5.000%, 6/01/24		No Opt. Call		A3		14,264,986
	8,095	5.000%, 6/01/24 – AGM Insured		No Opt. Call		AA		9,334,830
	5,630	5.000%, 6/01/25		No Opt. Call		A3		6,541,666
	4,265	5.000%, 6/01/29		6/26 at 100.00		A3		4,963,180
	17,500	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016, 5.000%, 6/01/20		No Opt. Call		A3		18,172,700
	3,475	Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Refunding Fourteenth Series 2016, 5.000%, 10/01/20		No Opt. Call		A		3,646,457
	515	Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – NPFG Insured (ETM)		No Opt. Call		N/R (4)		531,212
		Pittsburgh Public Parking Authority, Pennsylvania, Parking System Revenue Bonds, Refunding Series 2015A:
	2,300	5.000%, 12/01/19		No Opt. Call		A+		2,348,921
	3,305	5.000%, 12/01/20		No Opt. Call		A+		3,471,936
	1,675	5.000%, 12/01/21		No Opt. Call		A+		1,810,759
	1,500	5.000%, 12/01/22		No Opt. Call		A+		1,663,950
	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		2,260,710

184

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Pennsylvania (continued)
$	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+	$	1,993,649
	2,515	Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Bonds, Federal Transit Administration Section 5309 Fixed Guideway Modernization Formula Funds, Series 2011, 5.000%, 6/01/23		No Opt. Call		AA–		2,844,968
	1,180	Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Bonds, Federal Transit Administration Section 5337 State of Good Repair Formula Program Funds, Refunding Series 2017, 5.000%, 6/01/24		No Opt. Call		AA–		1,365,767
		Washington County Industrial Development Authority, Pennsylvania, College Revenue Bonds, AICUP Financing Program-Washington and Jefferson College Project, Series 2017-PP5:
	1,045	5.000%, 11/01/21		No Opt. Call		A–		1,122,508
	2,410	5.000%, 11/01/22		No Opt. Call		A–		2,649,337
	2,530	5.000%, 11/01/23		No Opt. Call		A–		2,833,802
	2,665	5.000%, 11/01/24		No Opt. Call		A–		3,043,217
	2,550	5.000%, 11/01/25		No Opt. Call		A–		2,956,853
	3,270	West Shore Area Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, Holy Spirit Hospital of the Sisters of Christian Charity, Series 2011B, 5.625%, 1/01/32		1/22 at 100.00		AA		3,586,307
	290,656	Total Pennsylvania						306,562,004
		Rhode Island – 0.1%
		Rhode Island Economic Development Corporation, Airport Revenue Bonds, Refunding Series 2013B:
	700	5.000%, 7/01/19		No Opt. Call		A		703,822
	1,165	5.000%, 7/01/20		No Opt. Call		A		1,206,929
	1,360	5.000%, 7/01/21		No Opt. Call		A		1,449,583
	3,225	Total Rhode Island						3,360,334
		South Carolina – 0.9%
		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		3,672,439
	4,910	5.000%, 12/01/22		No Opt. Call		AA		5,491,000
	1,745	Greenwood Fifty School Facilities, Inc, South Carolina, Installment Purchase Revenue Bonds, Greenwood School District 50 Project, Refunding Series 2016, 5.000%, 12/01/19 – BAM Insured		No Opt. Call		AA		1,785,624
		Kershaw County Public Schools Foundation, South Carolina, Installment Purchase Revenue Bonds, Kershaw County School District, Refunding Series 2015:
	1,075	5.000%, 12/01/19		No Opt. Call		A1		1,100,026
	600	5.000%, 12/01/20		No Opt. Call		A1		634,674
	1,040	Lexington County Health Services District, Inc, South Carolina, Hospital Revenue Bonds, Refunding Series 2011, 5.000%, 11/01/22		11/21 at 100.00		A1		1,117,688
	350	Lexington County Health Services District, Inc, South Carolina, Hospital Revenue Bonds, Refunding Series 2017, 5.000%, 11/01/26		No Opt. Call		A1		416,332
	730	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)		787,458

185

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Carolina (continued)
$	3,620	Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 2018A, 4.000%, 10/01/48 (Mandatory Put 2/01/24)		11/23 at 100.30		Aa2	$	3,913,871
	7,500	Richland County, South Carolina, General Obligation Bonds, Transportation Sales & Use Tax, Anticipation Note Series 2019, 3.000%, 2/27/20		No Opt. Call		N/R		7,593,300
		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		1,061,596
	1,035	5.000%, 8/01/24		No Opt. Call		Baa3		1,105,960
		South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2013A:
	1,450	5.250%, 8/01/24 (Pre-refunded 8/01/23)		8/23 at 100.00		N/R (4)		1,669,240
	2,850	5.250%, 8/01/25 (Pre-refunded 8/01/23)		8/23 at 100.00		N/R (4)		3,280,920
	3,500	5.250%, 8/01/26 (Pre-refunded 8/01/23)		8/23 at 100.00		N/R (4)		4,029,200
	2,000	5.000%, 8/01/27 (Pre-refunded 8/01/23)		8/23 at 100.00		N/R (4)		2,281,560
	1,750	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/21		No Opt. Call		A+		1,888,040
	1,425	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2015C, 5.000%, 12/01/19 (ETM)		No Opt. Call		A+ (4)		1,457,789
	1,240	South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A, 5.000%, 12/01/22		No Opt. Call		A+		1,369,964
		Sumter Two School Facilities, Inc, South Carolina, Installment Purchase Revenue Refunding Bonds, Sumter County School District 2 Project, Series 2016:
	1,500	5.000%, 12/01/19 – BAM Insured		No Opt. Call		AA		1,529,790
	1,000	5.000%, 12/01/20 – BAM Insured		No Opt. Call		AA		1,048,160
	43,715	Total South Carolina						47,234,631
		South Dakota – 0.1%
	455	South Dakota Building Authority, Revenue Bonds, Series 2013B, 5.000%, 6/01/20		No Opt. Call		AA+		473,082
		South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2014B:
	400	4.000%, 11/01/19		No Opt. Call		A+		405,404
	320	4.000%, 11/01/20		No Opt. Call		A+		331,530
	525	4.000%, 11/01/21		No Opt. Call		A+		555,571
	650	5.000%, 11/01/24		No Opt. Call		A+		757,061
		South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015:
	650	5.000%, 11/01/20		No Opt. Call		A+		683,514
	800	5.000%, 11/01/21		No Opt. Call		A+		866,488
	1,130	5.000%, 11/01/22		No Opt. Call		A+		1,257,509
	4,930	Total South Dakota						5,330,159
		Tennessee – 1.1%
	1,510	Harpeth Valley Utilities District, Davidson and Williamson Counties, Tennessee, Utilities Revenue Bonds, Refunding Series 2015, 4.000%, 9/01/20		No Opt. Call		AA+		1,562,608

186

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Tennessee (continued)
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A:
$	2,500	5.000%, 1/01/20		No Opt. Call		A+	$	2,558,475
	1,500	4.000%, 1/01/21		No Opt. Call		A+		1,554,375
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, East Tennessee Children’s Hospital, Series 2019:
	2,325	5.000%, 11/15/32		2/29 at 100.00		A		2,782,979
	2,810	5.000%, 11/15/33		2/29 at 100.00		A		3,334,711
		Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012:
	1,070	4.000%, 11/01/19		No Opt. Call		A		1,084,830
	810	4.000%, 11/01/20		No Opt. Call		A		839,565
	500	4.000%, 11/01/21		No Opt. Call		A		528,205
	1,030	5.000%, 11/01/22		11/21 at 100.00		A		1,108,558
		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		AA–		2,810,001
	1,870	5.000%, 7/01/22		No Opt. Call		AA–		2,064,798
	5,000	Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-1, 3.400%, 7/01/34		7/28 at 100.00		AA+		5,185,800
	8,680	The Tennessee Energy Acquisition Corporation, Gas Project Revenue Bonds, Series 2018, 4.000%, 11/01/49 (Mandatory Put 11/01/25)		8/25 at 100.22		A3		9,370,668
	21,600	The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2017A, 4.000%, 5/01/48 (Mandatory Put 5/01/23)		5/23 at 100.43		A3		22,854,528
	53,820	Total Tennessee						57,640,101
		Texas – 5.3%
		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016:
	1,040	5.000%, 1/01/21		No Opt. Call		A–		1,094,226
	1,430	5.000%, 1/01/22		No Opt. Call		A–		1,544,157
	2,500	5.000%, 1/01/23		No Opt. Call		A–		2,766,625
	3,560	5.000%, 1/01/24		No Opt. Call		A–		4,021,590
		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		1,074,980
	650	5.000%, 9/01/22		No Opt. Call		AA		717,379
	5,000	Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Senior Lien Refunding Series 2019, 5.000%, 12/01/24 (WI/DD, Settling 4/09/19)		No Opt. Call		AA+		5,880,900
		Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding & Improvement Series 2016:
	9,690	1.350%, 11/01/20 (AMT) , 144A		No Opt. Call		A+		9,553,662
	30,640	1.600%, 11/01/21 (AMT) , 144A		No Opt. Call		A+		30,129,844
		Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B:
	2,595	5.000%, 11/01/20		No Opt. Call		A+		2,734,222
	5,000	5.000%, 11/01/21		11/20 at 100.00		A+		5,302,500
	1,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2014A, 5.250%, 11/01/26 (AMT)		11/23 at 100.00		A+		1,146,390

187

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	18,000	Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Bond Anticipation Note Series 2014A, 5.000%, 2/01/23		No Opt. Call		A+	$	20,086,560
	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+		3,516,548
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C:
	825	5.000%, 11/15/19		No Opt. Call		A3		840,658
	575	5.000%, 11/15/20		No Opt. Call		A3		602,152
	480	5.000%, 11/15/21		No Opt. Call		A3		515,856
		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		12,943,937
	8,630	5.000%, 11/15/23 – AGM Insured		No Opt. Call		AA		9,820,250
	5,205	5.000%, 11/15/24 – AGM Insured		No Opt. Call		AA		6,070,279
		Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018C:
	4,000	5.000%, 7/01/29 (AMT)		7/28 at 100.00		AA		4,873,160
	6,000	5.000%, 7/01/30 (AMT)		7/28 at 100.00		AA		7,240,980
	3,000	5.000%, 7/01/31 (AMT)		7/28 at 100.00		AA		3,593,130
	2,250	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011B, 5.000%, 7/01/20		No Opt. Call		A+		2,345,760
	2,915	Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2014C, 5.000%, 5/15/20		No Opt. Call		AA		3,025,799
	1,250	Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2009A, 5.000%, 3/01/20		5/19 at 100.00		AA		1,253,225
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015:
	1,000	5.000%, 11/01/19 (AMT)		No Opt. Call		A1		1,019,200
	1,000	5.000%, 11/01/20 (AMT)		No Opt. Call		A1		1,050,270
	1,000	5.000%, 11/01/21 (AMT)		No Opt. Call		A1		1,077,840
	1,720	5.000%, 11/01/22 (AMT)		No Opt. Call		A1		1,900,841
	1,455	5.000%, 11/01/23 (AMT)		No Opt. Call		A1		1,643,932
	1,500	5.000%, 11/01/24 (AMT)		No Opt. Call		A1		1,728,165
	10,000	Matagorda County Navigation District Number One, Texas, Pollution Control Revenue Refunding Bonds, Central Power and Light Company Project, Series 2009A, 6.300%, 11/01/29		7/19 at 102.00		A–		10,304,300
	1,510	McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013, 4.000%, 12/01/21		No Opt. Call		B1		1,535,262
	2,175	Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31 (AMT), 144A		10/21 at 105.00		BB–		2,262,304
		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		1,736,094
	2,795	5.000%, 8/15/21		No Opt. Call		Aa2		3,010,327
	2,010	5.000%, 8/15/22		No Opt. Call		Aa2		2,226,196
	6,415	5.000%, 8/15/23 (Pre-refunded 8/15/22)		8/22 at 100.00		Aa2 (4)		7,134,250
	7,650	North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D, 5.000%, 9/01/24 (Pre-refunded 9/01/21)		9/21 at 100.00		N/R (4)		8,267,125

188

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:
$	4,030	5.000%, 1/01/22		No Opt. Call		A+	$	4,396,972
	4,945	5.000%, 1/01/23		No Opt. Call		A+		5,544,631
	7,045	5.000%, 1/01/24		No Opt. Call		A+		8,092,380
		North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2017A:
	5,000	5.000%, 1/01/23		No Opt. Call		A+		5,606,300
	3,260	5.000%, 1/01/24		1/23 at 100.00		A+		3,645,234
	3,200	5.000%, 1/01/27		1/26 at 100.00		A+		3,806,176
	2,470	San Antonio, Texas, Electric and Gas System Revenue Bonds, Junior Lien Series 2015A, 2.250%, 2/01/33 (Mandatory Put 12/01/19)		No Opt. Call		AA–		2,478,744
	3,825	Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Premium Series 2019A, 3.500%, 7/01/34		7/28 at 100.00		Aaa		3,938,411
	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		5,764,495
	2,745	Texas Southmost College District, Texas, General Obligation Bonds, Refunding Limited Tax Series 2014A, 5.000%, 2/15/20		No Opt. Call		AA–		2,826,664
	10,620	Texas State, General Obligation Bonds, Tax & Revenue Anticipation Note Series 2018, 4.000%, 8/29/19		No Opt. Call		N/R		10,725,244
		Texas Water Development Board, State Water Implementation Revenue Fund Bonds, Master Trust Taxable Series 2018A:
	7,000	5.000%, 10/15/23		No Opt. Call		AAA		8,032,080
	13,040	5.000%, 10/15/24		No Opt. Call		AAA		15,316,002
	12,540	5.000%, 10/15/25		No Opt. Call		AAA		15,050,884
	259,055	Total Texas						282,815,092
		Utah – 0.1%
		Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A:
	1,250	5.000%, 9/01/19		No Opt. Call		A		1,267,125
	1,090	5.000%, 9/01/20		No Opt. Call		A		1,140,500
	2,065	5.000%, 9/01/21		No Opt. Call		A		2,222,373
	4,405	Total Utah						4,629,998
		Vermont – 0.0%
	725	Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, University of Vermont Medical Center Project, Series 2016A, 4.000%, 12/01/19		No Opt. Call		A+		736,433
		Virginia – 1.6%
	10,570	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		10,603,718
	1,000	Hanover County, Virginia, General Obligation Bonds, Refunding & Public Improvement Series 2009, 5.000%, 7/15/19		No Opt. Call		AAA		1,010,040
	29,140	Loudoun County Economic Development Authority, Virginia, Lease Revenue Bonds, Metrorail Service District Improvement Silver Line Phase 2 Project, Series 2018, 2.000%, 4/01/22		4/20 at 100.00		AA+		29,181,962

189

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Virginia (continued)
$	6,505	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	$	6,503,894
	5,240	Norfolk Economic Development Authority, Virginia, Hospital Facility Revenue Bonds, Sentara Healthcare Systems, Refunding Series 2018A, 5.000%, 11/01/48 (Mandatory Put 11/01/28)		No Opt. Call		AA		6,481,461
	1,875	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		1,869,919
	1,000	Virginia Small Business Financing Authority, Revenue Bonds, Hampton University, Refunding Series 2014, 5.000%, 10/01/19		No Opt. Call		A		1,016,770
	15,005	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		BBB+		15,052,866
	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		11,983,645
	2,840	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		2,839,801
	85,165	Total Virginia						86,544,076
		Washington – 2.4%
	10,000	Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2015A, 5.000%, 7/01/23		No Opt. Call		Aa1		11,388,600
	5,000	Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2015C, 5.000%, 7/01/25		No Opt. Call		Aa1		5,970,050
	10,545	Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2017A, 5.000%, 7/01/27		No Opt. Call		Aa1		13,059,877
		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		A2		7,337,518
	7,285	5.000%, 12/01/24		No Opt. Call		A2		8,406,671
	1,005	Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2015B, 5.000%, 3/01/20		No Opt. Call		AA–		1,036,145
		Spokane Public Facilities District, Washington, Hotel, Motel, and Sales Use Tax Revenue Bonds, Refunding Series 2013B:
	1,520	5.000%, 12/01/20		No Opt. Call		A+		1,603,722
	2,095	5.000%, 12/01/21		No Opt. Call		A+		2,274,479
	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+		3,151,800
		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+		1,580,565
	5,730	5.000%, 1/01/22		No Opt. Call		A+		6,203,413
	1,950	5.000%, 1/01/24		No Opt. Call		A+		2,210,384
	1,310	5.000%, 1/01/25		No Opt. Call		A+		1,513,364
	1,065	Washington Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2014A, 5.000%, 11/15/21		No Opt. Call		AA–		1,153,928

190

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington (continued)
		Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2012B:
$	10,000	4.000%, 10/01/42(Mandatory Put 10/01/21)		No Opt. Call		AA–	$	10,551,800
	10,835	5.000%, 10/01/42(Mandatory Put 10/01/21)		No Opt. Call		AA–		11,696,599
		Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B:
	1,250	5.000%, 10/01/25		No Opt. Call		AA–		1,485,525
	1,850	5.000%, 10/01/26		No Opt. Call		AA–		2,236,150
	3,010	5.000%, 10/01/27		No Opt. Call		AA–		3,691,283
	2,100	5.000%, 10/01/28		No Opt. Call		AA–		2,611,392
	6,000	Washington State Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Series 2008, 2.125%, 6/01/20, 144A		9/19 at 100.00		A–		5,996,040
	1,450	Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Bayview Manor Senior Project, TEMPS 70 Series 2016B, 2.800%, 7/01/21, 144A		5/19 at 100.00		N/R		1,445,273
	20,175	Washington State, General Obligation Bonds, Refunding Various Purpose Series 2013R-13C, 5.000%, 7/01/21		No Opt. Call		AA+		21,716,773
	115,160	Total Washington						128,321,351
		West Virginia – 0.6%
	3,710	West Virginia Economic Development Authority, Energy Revenue Bonds, Morgantown Energy Associates Project, Refunding Series 2016, 2.875%, 12/15/26 (AMT)		No Opt. Call		Baa3		3,646,522
	6,000	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Refunding Series 2015A, 2.550%, 3/01/40 (Mandatory Put 4/01/24) (WI/DD, Settling 4/01/19)		No Opt. Call		A–		6,084,600
	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) (AMT)		No Opt. Call		A–		6,739,631
	4,010	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2009A, 2.625%, 12/01/42 (Mandatory Put 6/01/22)		No Opt. Call		A–		4,076,526
	4,000	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2009B, 2.625%, 12/01/42 (Mandatory Put 6/01/22)		No Opt. Call		A–		4,066,360
	4,095	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Wheeling Power Company – Mitchell Project, Series 2013A, 3.000%, 6/01/37 (Mandatory Put 4/01/22) (AMT)		No Opt. Call		A–		4,134,844
	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		1,160,841
	29,610	Total West Virginia						29,909,324
		Wisconsin – 1.5%
	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, 144A		5/19 at 100.00		BB		980,372

191

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

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, 144A		11/19 at 100.00		BB	$	844,578
	1,340	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, 144A		5/19 at 100.00		BB		1,340,268
	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) (AMT)		No Opt. Call		A–		5,146,664
	10,000	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Refunding Series 2017A-3, 1.950%, 9/01/27 (Mandatory Put 8/01/19) (AMT)		No Opt. Call		A–		10,001,000
	950	Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A, 5.000%, 12/01/19		No Opt. Call		AA–		969,826
	7,180	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2013B, 1.375%, 11/15/38 (Mandatory Put 12/03/19)		No Opt. Call		AA+		7,166,358
	5,680	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc, Series 2010B, 5.000%, 7/15/19 (ETM)		No Opt. Call		Aa3 (4)		5,736,402
	2,845	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc, Series 2012A, 5.000%, 7/15/27 – AGM Insured (Pre-refunded 7/15/21)		7/21 at 100.00		AA (4)		3,065,886
	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–		6,992,062
	1,710	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Medical College of Wisconsin, Inc, Series 2010, 5.000%, 12/01/19		No Opt. Call		AA–		1,748,663
	850	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc, Series 2010A, 5.000%, 6/01/19		No Opt. Call		A3		854,174
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc, Refunding 2012C:
	420	5.000%, 8/15/20 (ETM)		No Opt. Call		N/R (4)		439,492
	1,480	5.000%, 8/15/21 (ETM)		No Opt. Call		N/R (4)		1,597,231
	55	5.000%, 8/15/23 (Pre-refunded 8/15/22)		8/22 at 100.00		N/R (4)		61,071
	3,150	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc Obligated Group, Refunding Series 2015, 3.375%, 8/15/29		8/24 at 100.00		A+		3,234,861
		Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A:
	7,230	5.250%, 5/01/20 (Pre-refunded 5/01/19)		5/19 at 100.00		Aa2 (4)		7,251,979
	5	5.375%, 5/01/25 (Pre-refunded 5/01/19)		5/19 at 100.00		N/R (4)		5,016
	40	5.375%, 5/01/25 (Pre-refunded 5/01/19)		5/19 at 100.00		Aa2 (4)		40,126
	325	5.750%, 5/01/29 (Pre-refunded 5/01/19)		5/19 at 100.00		N/R (4)		326,118
	2,550	5.750%, 5/01/29 (Pre-refunded 5/01/19)		5/19 at 100.00		Aa2 (4)		2,558,772
	9,000	Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2019A, 5.000%, 5/01/22		No Opt. Call		Aa2		9,931,680
		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)		5,043,500
	675	5.000%, 7/01/22 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		680,873
	1,770	5.000%, 7/01/23 (Pre-refunded 7/01/19)		7/19 at 100.00		AA+ (4)		1,785,399

192

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	$	768,966
	1,000	5.000%, 7/01/26		7/24 at 100.00				A1		1,147,710
	725	5.000%, 7/01/27		7/24 at 100.00				A1		831,706
	77,920	Total Wisconsin								80,550,753
$	4,877,892	Total Municipal Bonds (cost $5,080,598,151)								5,163,728,959
Principal Amount (000)		Description (1)	Coupon		Maturity		Ratings (3)		Value
		CORPORATE BONDS – 0.0%
		Transportation – 0.0%
$	123	Las Vegas Monorail Company, Senior Interest Bonds (7), (8)		5.500%		7/15/19		N/R	$	82,173
	35	Las Vegas Monorail Company, Senior Interest Bonds (7), (8)		5.500%		7/15/55		N/R		17,407
$	158	Total Corporate Bonds (cost $6,773)								99,580
		Total Long-Term Investments (cost $5,080,604,924)								5,163,828,539
Principal Amount (000)		Description (1)	Optional Call Provisions (2)				Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 1.1%
		MUNICIPAL BONDS – 1.1%
		National – 0.3%
$	12,850	BB&T Municipal Trust Pool Tax Exempt Lease Certificates Class C Series 2018, Variable Rate Demand Obligations, 2.920%, 11/01/21 (SIFMA reference rate + 0.80% spread), 144A (9), (10)		No Opt. Call				A+	$	12,850,000
		Florida – 0.3%
	6,900	Miami-Dade County School Board, Florida, Certificates of Participation, Variable Rate Demand Obligations, 1.730%, 5/01/37 (9)		6/19 at 100.00				N/R		6,900,000
	10,000	Miami-Dade County School Board, Florida, Certificates of Participation, Variable Rate Demand Obligations, Series 2013, 0.000%, 5/01/31, 144A (9)		No Opt. Call				A-2		10,000,000
	16,900	Total Florida								16,900,000
		Nevada – 0.1%
	5,780	Clark County, Nevada, Airport Revenue Bonds, Variable Rate Demand Obligations, Subordinate Lien Series 2008D, 2.100%, 7/01/40 (WI/DD, Settling 4/04/19) (9)		6/19 at 100.00				VMIG-1		5,780,000
		New York – 0.4%
	20,035	New York City, New York, General Obligation Bonds, Variable Rate Demand Obligations, Fiscal 2018 Series B-4, 0.000%, 10/01/46 (9)		6/19 at 100.00				VMIG-1		20,035,000
$	55,565	Total Short-Term Investments (cost $55,565,000)								55,565,000
		Total Investments (cost $5,136,169,924) – 98.4%								5,219,393,539
		Other Assets Less Liabilities – 1.6%								86,923,787
		Net Assets – 100%							$	5,306,317,326

193

Nuveen Limited Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

(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. Optional Call Provisions are not covered by the report of independent registered public accounting firm.

(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. Ratings are not covered by the report of independent registered public accounting firm.

(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.

(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) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.

(7) The tax-exempt municipal bonds previously held by the Fund were surrendered in conjunction with the issuer’s bankruptcy reorganization plan. In return, the Fund received one or more senior interest corporate bonds.

(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 a 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, as well as the reference rate and spread, where applicable, 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.

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

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.

AMT Alternative Minimum Tax

ETM Escrowed to maturity

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.

SIFMA Securities Industry and Financial Market Association

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

See accompanying notes to financial statements.

194

Nuveen Short Term Municipal Bond Fund

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		LONG-TERM INVESTMENTS – 97.7%
		MUNICIPAL BONDS – 97.7%
		Alabama – 4.3%
$	6,335	Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 3 Series 2018A, 4.000%, 12/01/48 (Mandatory Put 12/01/23)		9/23 at 100.31		A3	$	6,749,499
	6,500	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016, 4.000%, 7/01/46 (Mandatory Put 6/01/21)		3/21 at 100.59		Aa2		6,767,215
	4,000	Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 8/01/47 (Mandatory Put 7/01/22)		4/22 at 100.52		Aa2		4,240,800
	7,335	Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 2, Fixed Rate Series 2018A, 4.000%, 6/01/49 (Mandatory Put 6/01/24)		3/24 at 100.29		A3		7,890,920
	24,170	Total Alabama						25,648,434
		Alaska – 0.8%
	1,660	Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015, 5.000%, 1/01/20 (AMT)		No Opt. Call		Baa2		1,687,988
	1,565	Alaska State, International Airport System Revenue Bonds, Refunding Series 2010A, 5.000%, 10/01/23 (AMT)		10/20 at 100.00		A1		1,638,289
	1,350	Alaska State, International Airport System Revenue Bonds, Refunding Series 2016C, 5.000%, 10/01/20 (AMT)		No Opt. Call		A1		1,413,328
	5	Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 4.625%, 6/01/23		4/19 at 100.00		A3		5,001
	4,580	Total Alaska						4,744,606
		Arizona – 1.9%
	1,320	Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, Series 2007, 2.700%, 12/01/37 (Mandatory Put 8/14/23) (AMT)		No Opt. Call		A+		1,343,509
	1,545	Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/19		No Opt. Call		A+		1,551,087
	1,775	Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2010, Series 2013B, 4.000%, 7/01/19		No Opt. Call		Aa1		1,785,863
		Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A:
	450	5.000%, 9/01/22		No Opt. Call		A2		497,120
	500	5.000%, 9/01/23		No Opt. Call		A2		565,300
	1,000	Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/21 (AMT)		No Opt. Call		AA–		1,072,270
	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		A3		1,264,944
	2,375	Yavapai County Industrial Development Authority, Arizona, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002, 2.800%, 6/01/27 (Mandatory Put 6/01/21) (AMT)		No Opt. Call		A–		2,404,830
	830	Yuma Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yuma Regional Medical Center, Series 2014A, 5.000%, 8/01/19		No Opt. Call		A		839,047
	10,995	Total Arizona						11,323,970

195

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		California – 5.2%
$	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–	$	6,266,446
	3,000	California Pollution Control Financing Authority, Series 2017A-1, 1.900%, 11/01/42 (Mandatory Put 7/15/19) (AMT), 144A		No Opt. Call		BBB+		3,000,180
	1,000	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc, Series 2010A, 1.900%, 8/01/23 (Mandatory Put 8/01/19) (AMT), 144A		No Opt. Call		BBB+		1,000,100
		California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016:
	695	5.000%, 8/01/19, 144A		No Opt. Call		BBB		701,992
	550	5.000%, 8/01/20, 144A		No Opt. Call		BBB		571,071
	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+		2,950,296
	4,000	Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2017A-1, 5.000%, 6/01/21		No Opt. Call		A		4,268,600
	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		2,840,081
	7,465	San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2017D, 5.000%, 5/01/23 (AMT)		No Opt. Call		A+		8,417,161
	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–		1,077,720
	29,180	Total California						31,093,647
		Colorado – 6.1%
		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		1,125,465
	1,400	5.000%, 12/01/20		No Opt. Call		Aa2		1,479,716
		BROMLEY PK MET DIST NO 2 COLO SR LTD TAX GO REF BDS:
	250	5.000%, 12/01/21 – BAM Insured		No Opt. Call		AA		270,058
	550	5.000%, 12/01/22 – BAM Insured		No Opt. Call		AA		609,703
	276	Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 2.700%, 12/01/19, 144A		No Opt. Call		N/R		276,284
	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+		481,487
	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		1,708,876
	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		A–		1,270,200
	1,750	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008-C2, 2.940%, 10/01/39 (Mandatory Put 11/12/20)		5/20 at 100.00		BBB+		1,757,612
	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+		2,032,171
	600	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A, 4.000%, 6/01/19		No Opt. Call		A–		601,944

196

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Colorado (continued)
$	1,000	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Refunding Composite Deal Series 2010B, 5.000%, 1/01/23		1/20 at 100.00		AA–	$	1,024,450
	190	Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2017A, 5.000%, 5/15/21		No Opt. Call		A–		201,710
	2,000	Denver City and County, Colorado, Airport System Revenue Bonds, Series 2017A, 5.000%, 11/15/19 (AMT)		No Opt. Call		AA–		2,040,460
	1,000	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A, 5.000%, 11/15/22 (AMT)		No Opt. Call		A+		1,108,420
	5,000	Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A, 5.000%, 12/01/22 (AMT)		No Opt. Call		A+		5,548,350
	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		1,042,340
	100	Eaton Area Park and Recreation District, Colorado, General Obligation Limited Tax Bonds, Series 2015, 5.000%, 12/01/19		No Opt. Call		N/R		101,626
	750	El Paso County School District 2, Harrison, Colorado, General Obligation Bonds, Series 2019, 5.000%, 12/01/20		No Opt. Call		AA		792,705
	2,000	Grand River Hospital District, Garfield and Mesa Counties, Colorado, General Obligation Bonds, Series 2018, 5.000%, 12/01/21 – AGM Insured		No Opt. Call		AA		2,168,620
	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		3,957,960
	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		A		1,075,020
		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		500,050
	700	2.750%, 6/01/20		No Opt. Call		N/R		700,945
	2,040	3.000%, 6/01/21		No Opt. Call		N/R		2,045,896
	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–		1,376,616
	1,530	Weld County School District RE1, Colorado, General Obligation Bonds, Series 2017, 5.000%, 12/15/20		No Opt. Call		AA		1,619,138
	35,551	Total Colorado						36,917,822
		District of Columbia – 1.0%
		Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017:
	2,475	5.000%, 10/01/20 (AMT)		No Opt. Call		AA–		2,594,097
	1,205	5.000%, 10/01/21 (AMT)		No Opt. Call		AA–		1,300,520
	2,175	Washington Convention and Sports Authority, Washington D.C., Dedicated Tax Revenue Bonds, Refunding Senior Lien Series 2018A, 5.000%, 10/01/22		No Opt. Call		AA+		2,417,404
	5,855	Total District of Columbia						6,312,021
		Florida – 2.0%
	1,450	Broward County, Florida, Airport System Revenue Bonds, Refunding Series 2012P-1, 5.000%, 10/01/22 (AMT)		No Opt. Call		A+		1,604,309

197

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Florida (continued)
$	1,000	Broward County, Florida, Airport System Revenue Bonds, Series 2015A, 5.000%, 10/01/23 (AMT)		No Opt. Call		A+	$	1,132,360
	415	Broward County, Florida, Airport System Revenue Bonds, Series 2017, 5.000%, 10/01/21 (AMT)		No Opt. Call		A+		447,154
	2,220	Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project – South Segment, Series 2017, 5.625%, 1/01/47 (AMT), 144A		4/19 at 105.00		N/R		2,307,668
	1,500	Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Refunding Priority Subordinated Series 2016, 5.000%, 10/01/21 (AMT)		No Opt. Call		A+		1,616,610
	1,750	Hillsborough County, Florida, Aviation Bonds, 5.000%, 10/01/22 (AMT)		No Opt. Call		AA–		1,939,368
	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		BBB		1,105,866
	1,000	South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 5.000%, 5/01/21		No Opt. Call		AA		1,067,740
	860	South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Series 2017, 5.000%, 8/15/21		No Opt. Call		AA–		923,133
	11,230	Total Florida						12,144,208
		Georgia – 1.4%
	1,500	Atlanta, Georgia, Tax Allocation Bonds, Beltline Project, Series 2016D, 5.000%, 1/01/21		No Opt. Call		A2		1,579,755
	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		531,995
		Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2014:
	487	5.500%, 7/15/23		7/21 at 100.00		N/R		487,880
	1,035	5.500%, 7/15/30		7/21 at 100.00		N/R		1,037,174
	1,136	5.500%, 1/15/36		7/21 at 100.00		N/R		1,138,875
	1,000	Main Street Natural Gas Inc, Georgia, Gas Supply Revenue Bonds, Series 2019A, 5.000%, 5/15/21		No Opt. Call		A3		1,056,710
	2,470	Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Variable Rate Demand Bonds Series 2018A, 4.000%, 9/01/22		No Opt. Call		Aa2		2,634,551
	8,143	Total Georgia						8,466,940
		Hawaii – 0.2%
	1,220	Hawaii State, Harbor System Revenue Bonds, Series 2010B, 5.250%, 7/01/19 (AMT)		No Opt. Call		AA–		1,230,443
		Idaho – 0.4%
		Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016:
	800	4.000%, 9/01/19		No Opt. Call		BB+		804,984
	1,710	5.000%, 9/01/22		No Opt. Call		BB+		1,842,491
	2,510	Total Idaho						2,647,475
		Illinois – 5.0%
	400	Board of Regents of Illinois State University, Auxiliary Facilities System Revenue Bonds, Series 2018A, 5.000%, 4/01/22 – AGM Insured		No Opt. Call		AA		430,100
	3,000	Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017E, 5.000%, 12/01/21		No Opt. Call		BB–		3,149,280
	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		Baa2		628,841

198

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Illinois (continued)
$	5,000	Chicago O’Hare International Airport, Illinois, 5.000%, 1/01/20 (AMT)		No Opt. Call		A	$	5,120,750
	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+		2,068,160
	475	Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Series 2015B, 5.000%, 1/01/20		No Opt. Call		A		486,899
	1,200	Cook County, Illinois, General Obligation Bonds, Refunding Series 2018, 5.000%, 11/15/21		No Opt. Call		AA–		1,290,120
	100	Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A, 4.500%, 12/01/20, 144A		No Opt. Call		N/R		100,536
	500	Illinois Finance Authority, Revenue Bonds, Benedictine University Project, Series 2013A, 5.000%, 10/01/19		No Opt. Call		BBB		505,495
	340	Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 5.000%, 9/01/19		No Opt. Call		AA+		344,842
	1,095	Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/20		No Opt. Call		A		1,152,093
	1,300	Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 5.000%, 11/15/19		No Opt. Call		AA–		1,327,118
	1,250	Illinois State Toll Highway Authority, Toll Highway Senior Revenue Bonds, Refunding Series 2018A, 5.000%, 1/01/22		No Opt. Call		AA–		1,362,413
	5,375	Illinois State, General Obligation Bonds, February Series 2014, 5.000%, 2/01/21		No Opt. Call		BBB		5,612,790
	3,100	Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/23		No Opt. Call		BBB		3,363,779
	2,750	Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017, 5.000%, 6/01/22		No Opt. Call		A		3,008,115
	28,545	Total Illinois						29,951,331
		Indiana – 1.0%
	3,250	Indiana Development Finance Authority, Solid Waste Disposal Revenue Refunding Bonds, Waste Management Inc. Project, Series 2001, 2.950%, 10/01/31 (Mandatory Put 10/01/21) (AMT)		No Opt. Call		A–		3,250,000
	2,810	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–		2,808,483
	6,060	Total Indiana						6,058,483
		Iowa – 1.1%
	2,770	Iowa Finance Authority, Healthcare Revenue Bonds, Genesis Health System, Refunding Series 2010, 5.000%, 7/01/20		No Opt. Call		A1		2,876,673
	500	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2019, 3.125%, 12/01/22 (WI/DD, Settling 4/03/19)		12/20 at 103.00		B+		503,290
	125	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A		6/19 at 105.00		B+		131,640
	145	Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018B, 5.250%, 12/01/50 (Mandatory Put 12/01/22)		12/22 at 105.00		B+		155,456
	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–		1,135,000
	1,130	Johnston Community School District, Iowa, School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2014, 5.000%, 7/01/19		No Opt. Call		AA		1,139,322

199

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Iowa (continued)
$	700	Xenia Rural Water District, Iowa, Water Revenue Bonds, Refunding Capital Loan Note Series 2016, 3.000%, 12/01/19		No Opt. Call		BBB+	$	703,241
	6,505	Total Iowa						6,644,622
		Kansas – 0.2%
		Kansas Municipal Energy Agency, Power Project Revenue Bonds, Dogwood Project, Series 2018A:
	500	5.000%, 4/01/22 – BAM Insured		No Opt. Call		AA		547,500
	500	5.000%, 4/01/23 – BAM Insured		No Opt. Call		AA		560,740
	1,000	Total Kansas						1,108,240
		Kentucky – 3.6%
	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		10,386,900
	3,785	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018B, 4.000%, 1/01/49 (Mandatory Put 1/01/25)		10/24 at 100.24		A1		4,114,825
	4,000	Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2018C-1, 4.000%, 12/01/49 (Mandatory Put 6/01/25)		3/25 at 100.19		A3		4,334,360
	3,135	Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2002A, 2.300%, 9/01/26 (Mandatory Put 9/01/21)		No Opt. Call		A1		3,167,102
	20,920	Total Kentucky						22,003,187
		Louisiana – 1.4%
	505	Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2015, 5.000%, 6/01/20		No Opt. Call		A1		524,473
	2,400	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+		2,397,600
	595	Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015, 4.000%, 5/15/19		No Opt. Call		A3		596,505
		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A:
	2,275	5.000%, 7/01/19		No Opt. Call		AA–		2,293,587
	2,250	5.000%, 7/01/20		No Opt. Call		AA–		2,342,317
	8,025	Total Louisiana						8,154,482
		Maryland – 0.2%
	915	Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015, 5.000%, 7/01/19		No Opt. Call		BBB+		921,991
		Massachusetts – 0.6%
	715	Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care, Series 2016I, 5.000%, 7/01/21		No Opt. Call		A–		763,406
		Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue K, Series 2017A:
	375	4.000%, 7/01/20 (AMT)		No Opt. Call		AA		384,825
	1,000	4.000%, 7/01/21 (AMT)		No Opt. Call		AA		1,045,360
	1,550	Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2016J, 4.000%, 7/01/20 (AMT)		No Opt. Call		AA		1,590,610
	3,640	Total Massachusetts						3,784,201

200

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Michigan – 0.9%
$	1,705	Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2017A, 5.000%, 12/01/22		No Opt. Call		AA–	$	1,904,178
	1,440	Michigan State Hospital Finance Authority, Revenue Bonds, McLaren Health Care Corporation, Refunding Series 2012A, 5.000%, 6/01/24		6/22 at 100.00		Aa3		1,579,810
	1,000	Michigan State, Grant Anticipation Bonds, Refunding Federal Highway Series 2016, 5.000%, 3/15/21		No Opt. Call		AA		1,065,300
	1,000	Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital Obligated Group, Refunding Series 2014D, 5.000%, 9/01/23		No Opt. Call		A+		1,137,420
	5,145	Total Michigan						5,686,708
		Minnesota – 10.4%
	240	Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A, 3.000%, 8/01/22		No Opt. Call		BB+		239,542
	380	Brainerd, Minnesota, Electric Utility Revenue Bonds, Series 2014A, 3.000%, 12/01/20 – AGM Insured		No Opt. Call		AA		388,569
	745	Chippewa County, Minnesota, Gross Revenue Hospital Bonds, Montevideo Hospital Project, Refunding Series 2016, 3.000%, 3/01/20		No Opt. Call		N/R		747,600
	1,415	City of Red Wing, Minnesota, General Obligation Bonds, Series 2018A, 5.000%, 2/01/23		No Opt. Call		Aa2		1,591,875
	805	Dakota County Community Development Agency, Minnesota, Senior Housing Revenue Bonds, Walker Highview Hills LLC Project, Refunding Series 2016A, 2.500%, 8/01/21, 144A		No Opt. Call		N/R		796,700
	440	Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2016A, 4.000%, 7/01/21		No Opt. Call		BB+		451,216
	1,200	Duluth Independent School District 709, Minnesota, Certificates of Participation, Refunding Series 2016A, 3.000%, 2/01/20		No Opt. Call		Aa2		1,210,512
	2,115	Elk River Independent School District 728, Minnesota, General Obligation Bonds, Refunding School Building Series 2016A, 5.000%, 2/01/23		No Opt. Call		Aa2		2,378,529
	1,130	Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2019A, 4.375%, 8/01/29		8/27 at 102.00		BB+		1,162,137
	1,470	Ham Lake, Minnesota Charter School Lease Revenue Bonds, Parnassus Preparatory School Project, Series 2016A, 3.000%, 11/01/21		No Opt. Call		BB		1,450,567
	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		AAA		2,315,272
	385	Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Twin Cities International Schools Project, Series 2017A, 3.750%, 12/01/22, 144A		No Opt. Call		N/R		383,679
	500	Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Yinghua Academy Project, Series 2013A, 6.000%, 7/01/33		7/23 at 100.00		BB+		543,145
	605	Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2015, 3.000%, 3/01/20		No Opt. Call		N/R		606,240
	1,000	Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2014B, 5.000%, 1/01/25 (AMT)		1/24 at 100.00		A+		1,134,010
		Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Senior Lien Series 2016C:
	350	4.000%, 1/01/20		No Opt. Call		AA–		356,657
	200	4.000%, 1/01/21		No Opt. Call		AA–		208,340
	475	Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Benedict, Series 2016-8K, 3.000%, 3/01/20		No Opt. Call		Baa1		478,843

201

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Minnesota (continued)
$	1,250	Minnesota Housing Finance Agency, Rental Housing Revenue Bonds, Series 2019A, 2.000%, 8/01/20		2/20 at 100.00		AA+	$	1,252,000
		Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2017A:
	370	1.400%, 7/01/19 (AMT)		No Opt. Call		AA+		369,537
	1,150	1.700%, 1/01/21 (AMT)		No Opt. Call		AA+		1,143,928
		Minnesota Office of Higher Education, Supplemental Student Loan Program Revenue Bonds, Senior Series 2018:
	500	5.000%, 11/01/22 (AMT)		No Opt. Call		AA		549,110
	400	5.000%, 11/01/23 (AMT)		No Opt. Call		AA		447,660
	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		2,280,742
	4,695	Minnesota State, General Obligation Bonds, Refunding Various Purpose Series 2016D, 5.000%, 8/01/22		No Opt. Call		AAA		5,221,873
	2,210	Minnesota State, General Obligation Bonds, Various Purpose Series 2013A, 5.000%, 8/01/21		No Opt. Call		AAA		2,386,535
	2,020	Moorhead, Minnesota, Educational Facilities Revenue Bonds, The Concordia College Corporation Project, Series 2016, 5.000%, 12/01/19		No Opt. Call		Baa1		2,058,501
	2,500	Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2017, 5.000%, 1/01/21		No Opt. Call		A–		2,645,375
	9,150	Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Series 2011, 4.500%, 11/15/38 (Mandatory Put 11/15/21)		No Opt. Call		AA		9,816,852
	295	Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A, 3.000%, 4/01/21		No Opt. Call		D		202,612
	2,250	Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Refunding Series 2014B, 5.000%, 5/01/23		No Opt. Call		AA–		2,528,482
	95	Saint Paul Housing & 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–		95,801
		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		828,159
	500	3.000%, 9/01/21		No Opt. Call		N/R		506,755
	500	3.000%, 9/01/22		No Opt. Call		N/R		507,635
	415	Sartell, Minnesota, Health Care Facilities Revenue Bonds, Country Manor Campus LLC Project, Refunding Series 2017, 3.000%, 9/01/22		No Opt. Call		N/R		418,532
	3,515	Sauk Rapids Independent School District 047, Benton County, Minnesota, General Obligation Bonds, Refunding School Building Series 2015A, 5.000%, 2/01/23		No Opt. Call		AAA		3,959,964
	120	Savage, Minnesota Charter School Lease Revenue Bonds, Aspen Academy Project, Series 2016A, 3.625%, 10/01/21		No Opt. Call		N/R		118,325
	6,790	South Washington County Independent School District 833, Minnesota, General Obligation Bonds, Refunding School Building Series 2018B, 5.000%, 2/01/22		No Opt. Call		Aa2		7,426,291
	1,330	St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A, 5.000%, 11/15/19 (ETM)		No Opt. Call		N/R (5)		1,358,156
	58,790	Total Minnesota						62,566,258
		Missouri – 3.1%
	1,375	Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Saint Francis Medical Center, Series 2013A, 5.000%, 6/01/23		6/22 at 100.00		AA		1,506,711
	400	Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2017A, 5.000%, 3/01/21		No Opt. Call		BBB–		419,792

202

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Missouri (continued)
$	810	Chesterfield Valley Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2015, 3.250%, 5/15/28		5/23 at 100.00		A–	$	827,917
	1,000	Clay County Reorganized School District R-1, Kearney, Missouri, General Obligation Bonds, School Building Series 2017, 5.000%, 3/01/22		No Opt. Call		AA+		1,095,150
	290	Hanley/Eager Road Transportation Development District, Missouri, Revenue Bonds, Refunding Series 2016A, 2.375%, 3/01/21		No Opt. Call		N/R		289,753
	1,000	Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2016B, 4.000%, 2/01/20		No Opt. Call		BBB		1,013,140
		Plaza at Noah’s Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015:
	775	2.750%, 5/01/19		No Opt. Call		N/R		775,000
	500	3.000%, 5/01/20		No Opt. Call		N/R		500,780
	300	3.250%, 5/01/21		No Opt. Call		N/R		301,902
	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+		1,088,950
	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		650,157
	5,055	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International, Refunding Series 2017A, 5.000%, 7/01/22 – AGM Insured		No Opt. Call		AA		5,591,740
	2,425	Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International, Refunding Series 2017B, 4.000%, 7/01/20 – AGM Insured (AMT)		No Opt. Call		AA		2,490,160
	1,745	Springfield, Missouri, Special Obligation Bonds, Refunding Series 2017B, 5.000%, 7/01/21 (AMT)		No Opt. Call		Aa2		1,857,570
	17,315	Total Missouri						18,408,722
		Nebraska – 0.9%
	690	Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 12/01/21		No Opt. Call		A		741,426
	1,685	Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/21		No Opt. Call		A		1,813,060
		Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Refunding Series 2017A:
	1,000	4.000%, 7/01/20		No Opt. Call		BBB		1,023,210
	1,555	5.000%, 7/01/22		No Opt. Call		BBB		1,690,238
	4,930	Total Nebraska						5,267,934
		Nevada – 2.0%
	3,000	Clark County, Nevada, Airport Revenue Bonds, Junior Subordinate Lien Notes Series 2017C, 5.000%, 7/01/21 (AMT)		No Opt. Call		A+		3,198,990
	2,000	Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Refunding Series 2017B, 5.000%, 7/01/20 (AMT)		No Opt. Call		Aa3		2,077,020
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016:
	1,890	4.000%, 9/01/20		No Opt. Call		N/R		1,927,517
	480	2.000%, 9/01/21		No Opt. Call		N/R		472,526
	1,410	Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2011C, 5.000%, 6/01/22		6/21 at 100.00		AA+		1,512,944
	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		1,086,545

203

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Nevada (continued)
$	1,790	Nevada State, General Obligation Bonds, Capital Improvement & Refunding Series 2015E, 5.000%, 2/01/21		No Opt. Call		AA+	$	1,901,338
	11,650	Total Nevada						12,176,880
		New Jersey – 7.0%
		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		1,585,000
	1,665	4.000%, 4/01/20 – BAM Insured		No Opt. Call		AA		1,705,210
	1,330	5.000%, 4/01/21 – BAM Insured		No Opt. Call		AA		1,419,349
	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		7,780,080
	2,000	New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton HealthCare System, Series 2016A, 5.000%, 7/01/19		No Opt. Call		AA		2,016,540
		New Jersey Higher Education Assistance Authority, Senior Student Loan Revenue Bonds, Refunding Series 2018B:
	1,000	5.000%, 12/01/20 (AMT)		No Opt. Call		Aaa		1,050,720
	2,500	5.000%, 12/01/21 (AMT)		No Opt. Call		Aaa		2,695,150
	6,500	5.000%, 12/01/22 (AMT)		No Opt. Call		Aaa		7,166,705
	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+		4,520,787
		New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A:
	1,335	5.000%, 6/15/22		No Opt. Call		A+		1,449,610
	3,000	5.000%, 6/15/23		No Opt. Call		A+		3,328,650
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A:
	5,000	5.000%, 6/01/21		No Opt. Call		A		5,308,300
	1,685	5.000%, 6/01/23		No Opt. Call		A		1,872,405
	38,965	Total New Jersey						41,898,506
		New Mexico – 1.5%
	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		Aa2		5,183,352
		Santa Fe County, New Mexico, Gross Receipts Tax Revenue Bonds, Capital Outlay Series 2017:
	1,615	5.000%, 6/01/21		No Opt. Call		AA+		1,731,118
	2,110	5.000%, 6/01/22		No Opt. Call		AA+		2,328,554
	8,855	Total New Mexico						9,243,024
		New York – 7.6%
	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 2013B, 1.500%, 11/01/31 (Mandatory Put 4/30/20)		No Opt. Call		AA–		1,763,982
	14,030	Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2016A. Groups A,B&C, 5.000%, 3/15/22		No Opt. Call		AA+		15,455,027
	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–		1,773,084
	3,000	New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004C, 2.625%, 4/01/34 (Mandatory Put 7/03/23)		No Opt. Call		A–		3,109,950

204

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		New York (continued)
$	1,960	New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2013A, 5.000%, 5/01/19		No Opt. Call		A2	$	1,965,429
		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 (AMT)		No Opt. Call		BB		5,043,800
	3,985	5.000%, 8/01/20 (AMT)		No Opt. Call		BB		4,117,422
	1,210	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Fifth Series 2014, 5.000%, 9/01/23 (AMT)		No Opt. Call		AA–		1,374,620
	5,000	Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Ninety-Seventh Series 2016, 5.000%, 11/15/19 (AMT)		No Opt. Call		AA–		5,103,950
	1,880	Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2015, 4.000%, 8/01/19		No Opt. Call		A3		1,894,269
	3,055	TSASC INC N Y, 4.000%, 6/01/19		No Opt. Call		A		3,065,387
	1,225	TSASC Inc, New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A, 5.000%, 6/01/20		No Opt. Call		A		1,268,475
	43,880	Total New York						45,935,395
		North Carolina – 0.8%
		North Carolina Central University, General Revenue Bonds, Refunding Series 2016:
	2,195	4.000%, 10/01/19		No Opt. Call		A3		2,220,001
	1,745	5.000%, 10/01/23		No Opt. Call		A3		1,964,748
	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		705,292
	4,640	Total North Carolina						4,890,041
		North Dakota – 0.7%
	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–		831,023
		Grand Forks, North Dakota, Senior Housing and Nursing Facilities Revenue Bonds, Valley Homes Obligated Group, Series 2016A:
	575	4.000%, 12/01/19		No Opt. Call		N/R		580,095
	630	4.500%, 12/01/20		No Opt. Call		N/R		642,732
	585	4.750%, 12/01/21		No Opt. Call		N/R		605,229
	1,245	5.000%, 12/01/22		No Opt. Call		N/R		1,311,271
	3,850	Total North Dakota						3,970,350
		Ohio – 1.6%
	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–		1,018,420
	845	Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Refunding Series 2017, 4.000%, 11/15/22		No Opt. Call		A		909,034
	685	Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (4)		No Opt. Call		N/R		589,100
	2,310	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc, Series 2018C, 5.000%, 1/15/42 (Mandatory Put 9/15/21)		No Opt. Call		A		2,484,752
	4,000	Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc, Series 2018D, 5.000%, 1/15/39 (Mandatory Put 9/15/23)		No Opt. Call		A		4,515,600
	8,840	Total Ohio						9,516,906

205

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Oklahoma – 0.4%
$	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+	$	1,043,632
	425	Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B, 5.000%, 8/15/22		No Opt. Call		Baa3		461,826
	1,000	Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Refunding Series 2015B, 5.000%, 6/01/20 – BAM Insured		No Opt. Call		AA		1,036,320
	2,430	Total Oklahoma						2,541,778
		Oregon – 0.4%
	2,000	Oregon State Business Development Commission, 5.000%, 3/01/49 (Mandatory Put 3/01/22) (AMT)		No Opt. Call		A+		2,174,800
		Pennsylvania – 2.0%
	1,000	Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A, 5.000%, 4/01/22		No Opt. Call		A		1,084,610
	800	Centre County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Mount Nittany Medical Center Project, Series 2018A, 5.000%, 11/15/21		No Opt. Call		AA–		863,592
	250	Chester, Delaware County, Pennsylvania, Tax and Revenue Anticipation Notes, Series 2019, 5.000%, 9/30/19, 144A		7/19 at 100.00		N/R		250,340
	1,000	Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018, 5.000%, 6/01/22		No Opt. Call		A1		1,095,150
	5,045	Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016, 5.000%, 6/01/21		No Opt. Call		A3		5,383,217
	400	Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017A, 5.000%, 7/01/22		No Opt. Call		A		441,268
	1,515	Pittsburgh Public Parking Authority, Pennsylvania, Parking System Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/19		No Opt. Call		A+		1,547,224
	635	Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012A, 5.000%, 9/01/19		No Opt. Call		AA–		643,915
	1,000	The Hospitals and Higher Education Facilities Authority of Philadelphia, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017, 5.000%, 7/01/20		No Opt. Call		BBB–		1,030,440
	11,645	Total Pennsylvania						12,339,756
		Rhode Island – 0.4%
		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+		684,875
	375	5.000%, 9/15/20		No Opt. Call		A+		392,460
	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+		1,575,173
	2,575	Total Rhode Island						2,652,508
		South Carolina – 0.5%
	2,980	South Carolina State Ports Authority, Revenue Bonds, Series 2018, 5.000%, 7/01/22 (AMT)		No Opt. Call		A+		3,271,593
		South Dakota – 0.3%
		Sioux Falls, South Dakota, Health Facilities Revenue Bonds, Dow Rummel Village Project, Refunding Series 2016:
	300	2.650%, 11/01/20		No Opt. Call		BB		301,245
	200	3.000%, 11/01/21		No Opt. Call		BB		201,750

206

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		South Dakota (continued)
$	585	Sioux Falls, South Dakota, Health Facilities Revenue Bonds, Dow Rummel Village Project, Series 2017, 3.100%, 11/01/22		No Opt. Call		BB	$	587,750
	485	South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/19		No Opt. Call		A+		494,341
	1,570	Total South Dakota						1,585,086
		Tennessee – 1.6%
	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+		1,053,350
	2,610	Memphis-Shelby Counties Airport Authority, Tennessee, Airport Revenue Bonds, Refunding Series 2011C, 5.000%, 7/01/19 (AMT)		No Opt. Call		A		2,630,280
	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		1,319,773
	4,000	Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2019A, 5.000%, 2/01/50 (Mandatory Put 10/01/24)		7/24 at 100.58		Aa2		4,557,040
	8,900	Total Tennessee						9,560,443
		Texas – 12.8%
	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+		1,215,435
	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		5,891,657
	1,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2013E, 5.000%, 11/01/22 (AMT)		No Opt. Call		A+		1,108,430
	2,000	Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2014D, 5.000%, 11/01/22 (AMT)		No Opt. Call		A+		2,216,860
	2,030	El Paso, Texas, Airport Revenue Bonds, El Paso International Airport Series 2018, 5.000%, 8/15/23 (AMT)		No Opt. Call		A+		2,262,902
	4,550	Fort Worth Independent School District, Tarrant County, Texas, General Obligation Bonds, Refunding School Building Series 2015, 5.000%, 2/15/23		No Opt. Call		AAA		5,122,390
	1,655	Galveston Independent School District, Galveston County, Texas, General Obligation Bonds, Series 2018, 5.000%, 2/01/22		No Opt. Call		Aaa		1,810,090
	5,000	Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Bond Anticipation Note Series 2014A, 5.000%, 2/01/23		No Opt. Call		A+		5,579,600
	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+		3,016,050
	1,000	Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/20		No Opt. Call		A2		1,051,490
	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		2,403,510
	1,700	Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series Series 2018A, 5.000%, 7/01/22 (AMT)		No Opt. Call		A1		1,866,345
	4,210	Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018C, 5.000%, 7/01/23 (AMT)		No Opt. Call		AA		4,739,239
	1,000	Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2011A, 5.000%, 7/01/19 (AMT)		No Opt. Call		A+		1,008,020
	5,000	Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2014C, 4.000%, 5/15/21		No Opt. Call		AA		5,256,100

207

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Texas (continued)
$	5,000	Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2017A, 5.000%, 3/01/21		No Opt. Call		AA	$	5,321,050
	5,000	Humble Independent School District, Harris County, Texas, General Obligation Bonds, Refunding School Building Series 2015A, 5.250%, 2/15/23		No Opt. Call		AAA		5,679,700
		Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds, Series 2017:
	1,000	5.000%, 11/01/19 (AMT)		No Opt. Call		A1		1,019,200
	1,500	5.000%, 11/01/20 (AMT)		No Opt. Call		A1		1,575,405
	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		4,645,715
	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+		1,061,400
	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) (AMT)		No Opt. Call		A–		3,966,240
	2,000	Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Republic Services Inc Project, Variable Rate Demand Obligation Series 2012, 1.900%, 1/01/26 (Mandatory Put 8/01/19) (AMT)		No Opt. Call		BBB+		2,000,200
		New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Methodist Retirement Communites Crestview Project, Series 2016:
	690	2.000%, 11/15/19		No Opt. Call		BB+		687,841
	615	4.000%, 11/15/21		No Opt. Call		BB+		630,916
	325	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, 4.000%, 4/01/19 – AGM Insured		No Opt. Call		AA		325,000
	2,000	Texas State University System, Financing Revenue Bonds, Refunding Series 2017A, 5.000%, 3/15/20		No Opt. Call		Aa2		2,065,960
	2,500	Texas State, General Obligation Bonds, Public Finance Authority, Refunding Series 2014A, 5.000%, 10/01/20		No Opt. Call		AAA		2,627,150
	1,000	Travis County, Texas, General Obligation Bonds, Refunding Limited Tax Series 2016A, 5.000%, 3/01/21		No Opt. Call		AAA		1,064,990
	72,385	Total Texas						77,218,885
		Utah – 1.2%
	6,000	Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2018A, 5.000%, 7/01/23 (AMT)		No Opt. Call		A+		6,754,260
		Utah Charter School Finance Authority, Charter School Revenue Bonds, Utah Charter Academies Project, Series 2018:
	335	4.000%, 10/15/22		No Opt. Call		AA		356,762
	350	4.000%, 10/15/23		No Opt. Call		AA		377,590
	6,685	Total Utah						7,488,612
		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		423,848
	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		1,159,385
	1,585	Total Virginia						1,583,233

208

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Washington – 1.7%
		Port Everett, Washington, Revenue Bonds, Refunding Series 2016:
$	200	3.000%, 12/01/19		No Opt. Call		A1	$	201,840
	200	4.000%, 12/01/20		No Opt. Call		A1		207,746
	225	4.000%, 12/01/21		No Opt. Call		A1		238,140
	1,590	Port of Seattle, Washington, General Obligation Bonds, Refunding Series 2011, 5.250%, 12/01/21 (AMT)		6/21 at 100.00		AAA		1,706,388
		Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015C:
	3,500	5.000%, 4/01/19 (AMT)		No Opt. Call		AA–		3,500,000
	1,000	5.000%, 4/01/21 (AMT)		No Opt. Call		AA–		1,062,910
	1,000	5.000%, 4/01/24 (AMT)		No Opt. Call		AA–		1,137,690
	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		1,858,301
	500	Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009, 6.000%, 7/01/19		No Opt. Call		A–		503,965
	9,990	Total Washington						10,416,980
		West Virginia – 0.6%
	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) (AMT)		No Opt. Call		A–		996,250
	2,710	West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Wheeling Power Company – Mitchell Project, Series 2013A, 3.000%, 6/01/37 (Mandatory Put 4/01/22) (AMT)		No Opt. Call		A–		2,736,368
	3,710	Total West Virginia						3,732,618
		Wisconsin – 2.6%
	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) (AMT)		No Opt. Call		A–		2,844,865
	3,000	Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc, Refunding Series 2017A-1, 1.950%, 6/01/23 (Mandatory Put 5/01/19) (AMT)		No Opt. Call		A–		3,000,300
	3,600	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Advocate Aurora Health Credit Group, Variable Rate Demand Series 2018B, 5.000%, 8/15/54 (Mandatory Put 1/25/23)		No Opt. Call		AA		4,022,640
	1,050	Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian HealthCare, Inc., Series 2017, 5.000%, 7/01/21		No Opt. Call		A+		1,120,844
		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–		151,785
	330	5.000%, 9/01/21		No Opt. Call		BBB–		351,034
		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Saint John’s Communities Inc., Series 2018A:
	500	4.000%, 9/15/21		No Opt. Call		BBB–		515,200
	500	4.000%, 9/15/22		No Opt. Call		BBB–		520,280
	455	4.000%, 9/15/23		No Opt. Call		BBB–		477,313
	1,055	Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Benevolent Corporation Cedar Community, Series 2017, 5.000%, 6/01/22		No Opt. Call		N/R		1,116,559
	300	Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Fort Healthcare, Series 2014, 4.000%, 5/01/19		No Opt. Call		BBB+		300,435

209

Nuveen Short Term Municipal Bond Fund (continued)

Portfolio of Investments    March 31, 2019

Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		Wisconsin (continued)
$	1,260	Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series 2015A, 1.950%, 9/01/19 (AMT)		No Opt. Call		AA	$	1,259,622
	15,055	Total Wisconsin						15,680,877
$	557,414	Total Long-Term Investments (cost $584,614,290)						588,963,996
Principal Amount (000)		Description (1)	Optional Call Provisions (2)		Ratings (3)		Value
		SHORT-TERM INVESTMENTS – 1.5%
		MUNICIPAL BONDS – 1.5%
		Minnesota – 0.9%
$	5,070	Rochester, Minnesota, Health Care Facilities Revenue Bonds, Variable Rate Demand Obligations, Mayo Clinic Series 2008B, 2.100%, 11/15/38 (6)		6/19 at 100.00		VMIG-1	$	5,070,000
		Pennsylvania – 0.2%
	1,350	Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc Project, Variable Rate Demand Obligations, Refunding Series 2019A, 1.950%, 4/01/34 (AMT) (Mandatory Put 7/15/19) (6)		No Opt. Call		A-2		1,350,000
		Texas – 0.4%
	2,500	Lower Neches Valley Authority, Texas, Industrial Development Corporation Exempt Facilities Revenue Bonds, ExxonMobil Project, Variable Rate Demand Obligations, Refunding Series 2001A, 1.800%, 11/01/29 (6)		6/19 at 100.00		VMIG-1		2,500,000
$	8,920	Total Short-Term Investments (cost $8,920,000)						8,920,000
		Total Investments (cost $593,534,290) – 99.2%						597,883,996
		Other Assets Less Liabilities – 0.8%						4,921,050
		Net Assets – 100%					$	602,805,046

(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. Optional Call Provisions are not covered by the report of independent registered public accounting firm.

(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. Ratings are not covered by the report of independent registered public accounting firm.

(4) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.

(5) 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.

(6) Investment has a 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, as well as the reference rate and spread, where applicable, 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.

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.

AMT Alternative Minimum Tax

ETM Escrowed to maturity

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

See accompanying notes to financial statements.

210

Statement of Assets and Liabilities

March 31, 2019

	All-American		Intermediate Duration		Limited Term		Short Term
Assets
Long-term investments, at value (cost $3,848,020,028, $6,299,991,612, $5,080,604,924 and $584,614,290, respectively)	$	4,081,152,440	$	6,550,754,524	$	5,163,828,539	$	588,963,996
Short-term investments, at value (cost approximates value)		—		148,345,000		55,565,000		8,920,000
Cash		129,391		29,695,779		4,610,810		803,460
Cash collateral at broker for investments in futures contracts(1)		318,997		—		—		—
Receivable for:
Interest		56,019,254		79,074,805		58,490,879		7,260,306
Investments sold		20,210,366		122,575,713		95,129,153		—
Variation margin on futures contracts		75,938		—		—		—
Shares sold		19,056,824		22,667,633		22,323,780		3,109,725
Other assets		502,306		716,268		495,554		78,201
Total assets		4,177,465,516		6,953,829,722		5,400,443,715		609,135,688
Liabilities
Borrowings		23,800,000		—		—		—
Floating rate obligations		65,870,000		—		—		—
Payable for:
Dividends		2,905,530		6,133,929		2,861,173		331,701
Investments purchased		2,980,000		104,371,983		79,772,437		4,853,335
Shares redeemed		5,900,904		6,082,702		8,124,559		641,393
Accrued expenses:
Management fees		1,370,941		2,235,894		1,545,640		211,427
Directors/Trustees fees		401,722		658,980		403,212		39,146
12b-1 distribution and service fees		510,480		168,519		334,346		35,491
Other		790,944		1,396,396		1,085,022		218,149
Total liabilities		104,530,521		121,048,403		94,126,389		6,330,642
Net assets	$	4,072,934,995	$	6,832,781,319	$	5,306,317,326	$	602,805,046
Class A Shares
Net assets	$	1,554,833,468	$	603,262,375	$	1,015,539,885	$	156,525,537
Shares outstanding		134,033,798		64,965,917		91,638,186		15,519,987
Net asset value (“NAV”) per share	$	11.60	$	9.29	$	11.08	$	10.09
Offering price per share (NAV per share plus maximum sales charge of 4.20%, 3.00%, 2.50% and 2.50%, respectively, of offering price)	$	12.11	$	9.58	$	11.36	$	10.35
Class C Shares
Net assets	$	195,053,096	$	48,181,853	$	83,991,118	$	6,879,208
Shares outstanding		16,816,085		5,188,322		7,607,032		683,787
NAV and offering price per share	$	11.60	$	9.29	$	11.04	$	10.06
Class C2 Shares
Net assets	$	142,450,495	$	43,300,200	$	192,173,742	$	6,146,824
Shares outstanding		12,274,186		4,658,652		17,380,464		609,971
NAV and offering price per share	$	11.61	$	9.29	$	11.06	$	10.08
Class R6 Shares
Net assets	$	12,468,698	$	—	$	—	$	—
Shares outstanding		1,069,444		—		—		—
NAV and offering price per share	$	11.66	$	—	$	—	$	—
Class I Shares
Net assets	$	2,168,129,238	$	6,138,036,891	$	4,014,612,581	$	433,253,477
Shares outstanding		186,113,222		659,139,542		363,560,459		42,911,642
NAV and offering price per share	$	11.65	$	9.31	$	11.04	$	10.10
Net assets consist of:
Capital paid-in	$	3,910,559,215	$	6,582,260,779	$	5,227,336,079	$	597,946,296
Total distributable earnings		162,375,780		250,520,540		78,981,247		4,858,750
Net assets	$	4,072,934,995	$	6,832,781,319	$	5,306,317,326	$	602,805,046
Authorized shares – per class		Unlimited		Unlimited		Unlimited		2 billion
Par value per share	$	0.01	$	0.001	$	0.01	$	0.0001

(1) Cash pledged to collateralize the net payment obligations for investments in derivatives 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.

211

Statement of Operations

Year Ended March 31, 2019

	All-American			Intermediate Duration			Limited Term			Short Term
Investment Income	$	167,130,838		$	211,125,279		$	130,345,503		$	12,532,367
Expenses
Management fees		15,481,687			23,713,316			16,890,840			2,384,384
12b-1 service fees – Class A Shares		2,800,022			1,107,300			1,989,542			312,981
12b-1 distribution and service fees – Class C Shares		1,869,767			457,405			875,171			74,513
12b-1 distribution and service fees – Class C2 Shares		1,274,893			394,612			1,288,919			39,298
Shareholder servicing agent fees		1,601,404			2,668,194			2,149,386			215,219
Interest expense		1,488,962			122,671			188,742			4,353
Custodian fees		450,912			622,039			516,877			171,406
Directors/Trustees fees		119,577			187,828			152,524			18,099
Professional fees		143,451			189,956			150,793			60,387
Shareholder reporting expenses		227,060			379,593			259,116			42,316
Federal and state registration fees		251,358			319,993			254,149			86,697
Other		72,580			81,827			101,430			12,264
Total expenses		25,781,673			30,244,734			24,817,489			3,421,917
Net investment income (loss)		141,349,165			180,880,545			105,528,014			9,110,450
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from investments:
Investments		(19,913,373	)		(2,783,240	)		(5,286,979	)		(621,363	)
Futures contracts		(628,556	)		—			—			—
Change in net unrealized appreciation (depreciation) of:
Investments		73,406,492			148,914,560			114,801,312			6,538,588
Futures contracts		(445,938	)		—			—			—
Net realized and unrealized gain (loss)		52,418,625			146,131,320			109,514,333			5,917,225
Net increase (decrease) in net assets from operations	$	193,767,790		$	327,011,865		$	215,042,347		$	15,027,675

See accompanying notes to financial statements.

212

Statement of Changes in Net Assets

	All-American						Intermediate Duration
	Year Ended 3/31/19			Year Ended(1) 3/31/18			Year Ended 3/31/19			Year Ended(1) 3/31/18
Operations
Net investment income (loss)	$	141,349,165		$	130,680,932		$	180,880,545		$	162,321,897
Net realized gain (loss) from:
Investments		(19,913,373	)		1,291,351			(2,783,240	)		(3,256,612	)
Futures contracts		(628,556	)		—			—			—
Change in net unrealized appreciation (depreciation) of:
Investments		73,406,492			18,862,245			148,914,560			20,623,966
Futures contracts		(445,938	)		—			—			—
Net increase (decrease) in net assets from operations		193,767,790			150,834,528			327,011,865			179,689,251
Distributions to Shareholders(2)
Dividends(3)
Class A Shares		(50,446,500	)		(46,678,566	)		(15,325,260	)		(14,696,918	)
Class C Shares		(5,261,379	)		(5,114,685	)		(904,219	)		(921,534	)
Class C2 Shares		(5,152,395	)		(7,412,748	)		(1,176,490	)		(1,645,382	)
Class R6 Shares		(253,090	)		(255,706	)		—			—
Class I Shares		(77,130,331	)		(70,764,942	)		(157,314,478	)		(136,436,175	)
Decrease in net assets from distributions to shareholders		(138,243,695	)		(130,226,647	)		(174,720,447	)		(153,700,009	)
Fund Share Transactions
Proceeds from sale of shares		1,336,662,890			1,152,666,575			2,686,032,240			1,483,854,339
Proceeds from shares issued to shareholders due to reinvestment of distributions		102,559,302			95,354,742			110,724,041			102,179,361
		1,439,222,192			1,248,021,317			2,796,756,281			1,586,033,700
Cost of shares redeemed		(1,136,957,452	)		(778,798,185	)		(1,537,445,232	)		(1,313,020,387	)
Net increase (decrease) in net assets from Fund share transactions		302,264,740			469,223,132			1,259,311,049			273,013,313
Net increase (decrease) in net assets		357,788,835			489,831,013			1,411,602,467			299,002,555
Net assets at the beginning of period		3,715,146,160			3,225,315,147			5,421,178,852			5,122,176,297
Net assets at the end of period	$	4,072,934,995		$	3,715,146,160		$	6,832,781,319		$	5,421,178,852

(1) Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 – New Accounting Pronouncements for further details.

(2) The composition and per share amounts of the Fund’s distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 – Income Tax Information.

(3) For the fiscal year ended March 31, 2018, the Fund’s distributions to shareholders were paid from net investment income.

See accompanying notes to financial statements.

213

	Limited Term						Short Term
	Year Ended 3/31/19			Year Ended(1) 3/31/18			Year Ended 3/31/19			Year Ended(1) 3/31/18
Operations
Net investment income (loss)	$	105,528,014		$	92,630,501		$	9,110,450		$	7,419,587
Net realized gain (loss) from:
Investments		(5,286,979	)		(3,916,685	)		(621,363	)		(96,922	)
Futures contracts		—			—			—			—
Change in net unrealized appreciation (depreciation) of:
Investments		114,801,312			(23,367,486	)		6,538,588			(3,639,418	)
Futures contracts		—			—			—			—
Net increase (decrease) in net assets from operations		215,042,347			65,346,330			15,027,675			3,683,247
Distributions to Shareholders(2)
Dividends(3)
Class A Shares		(18,889,874	)		(19,423,552	)		(2,046,710	)		(1,780,950	)
Class C Shares		(941,916	)		(1,015,265	)		(38,677	)		(21,260	)
Class C2 Shares		(3,531,968	)		(4,704,682	)		(66,263	)		(69,592	)
Class R6 Shares		—			—			—			—
Class I Shares		(73,007,938	)		(61,060,952	)		(6,151,997	)		(4,920,453	)
Decrease in net assets from distributions to shareholders		(96,371,696	)		(86,204,451	)		(8,303,647	)		(6,792,255	)
Fund Share Transactions
Proceeds from sale of shares		2,340,031,019			1,606,943,339			307,629,211			205,091,091
Proceeds from shares issued to shareholders due to reinvestment of distributions		67,418,763			62,665,786			4,898,889			3,757,905
		2,407,449,782			1,669,609,125			312,528,100			208,848,996
Cost of shares redeemed		(1,829,618,621	)		(1,641,262,696	)		(303,905,079	)		(258,058,494	)
Net increase (decrease) in net assets from Fund share transactions		577,831,161			28,346,429			8,623,021			(49,209,498	)
Net increase (decrease) in net assets		696,501,812			7,488,308			15,347,049			(52,318,506	)
Net assets at the beginning of period		4,609,815,514			4,602,327,206			587,457,997			639,776,503
Net assets at the end of period	$	5,306,317,326		$	4,609,815,514		$	602,805,046		$	587,457,997

(1) Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 – New Accounting Pronouncements for further details.

(2) The composition and per share amounts of the Fund’s distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 – Income Tax Information.

(3) For the fiscal year ended March 31, 2018, the Fund’s distributions to shareholders were paid from net investment income.

See accompanying notes to financial statements.

214

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215

Financial Highlights

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:
2019	$	11.44	$	0.42	$	0.15		$	0.57		$	(0.41	)	$	—	$	(0.41	)	$	11.60
2018		11.34		0.43		0.10			0.53			(0.43	)		—		(0.43	)		11.44
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
Class C (2/14)
Year Ended 3/31:
2019		11.44		0.33		0.15			0.48			(0.32	)		—		(0.32	)		11.60
2018		11.35		0.33		0.10			0.43			(0.34	)		—		(0.34	)		11.44
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:
2019		11.44		0.36		0.15			0.51			(0.34	)		—		(0.34	)		11.61
2018		11.35		0.36		0.09			0.45			(0.36	)		—		(0.36	)		11.44
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
Class R6 (6/16)
Year Ended 3/31:
2019		11.49		0.45		0.15			0.60			(0.43	)		—		(0.43	)		11.66
2018		11.39		0.46		0.09			0.55			(0.45	)		—		(0.45	)		11.49
2017(g)		12.09		0.34		(0.71	)		(0.37	)		(0.33	)		—		(0.33	)		11.39
Class I (2/97)
Year Ended 3/31:
2019		11.49		0.44		0.15			0.59			(0.43	)		—		(0.43	)		11.65
2018		11.39		0.45		0.10			0.55			(0.45	)		—		(0.45	)		11.49
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

216

			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)
	5.11	%	$	1,554,833		0.73	%		0.69	%		3.68	%		29	%
	4.66			1,325,011		0.72			0.69			3.69			14
	(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
	4.29			195,053		1.53			1.49			2.88			29
	3.76			186,999		1.52			1.49			2.89			14
	(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
	4.60			142,450		1.28			1.24			3.12			29
	3.98			217,048		1.27			1.24			3.15			14
	(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
	5.40			12,469		0.49			0.45			3.90			29
	4.86			6,725		0.48			0.45			3.94			14
	(3.04	)		6,674		0.49	*		0.46	*		3.95	*		24
	5.31			2,168,129		0.53			0.49			3.88			29
	4.86			1,979,364		0.52			0.49			3.89			14
	(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

(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 and the interest expense and fees paid on borrowings, as described in Note 8 – Borrowing Arrangements.

(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.

* Annualized.

See accompanying notes to financial statements.

217

Financial Highlights (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:
2019	$	9.07	$	0.26	$	0.21		$	0.47		$	(0.25	)	$	—		$	(0.25	)	$	9.29
2018		9.03		0.27		0.02			0.29			(0.25	)		—			(0.25	)		9.07
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
Class C (2/14)
Year Ended 3/31:
2019		9.08		0.19		0.20			0.39			(0.18	)		—			(0.18	)		9.29
2018		9.03		0.19		0.04			0.23			(0.18	)		—			(0.18	)		9.08
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:
2019		9.09		0.21		0.19			0.40			(0.20	)		—			(0.20	)		9.29
2018		9.04		0.22		0.04			0.26			(0.21	)		—			(0.21	)		9.09
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
Class I (11/76)
Year Ended 3/31:
2019		9.10		0.28		0.20			0.48			(0.27	)		—			(0.27	)		9.31
2018		9.05		0.29		0.03			0.32			(0.27	)		—			(0.27	)		9.10
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

218

			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)
	5.29	%	$	603,262		0.67	%		0.67	%		2.86	%		15	%
	3.25			525,754		0.68			0.68			2.90			18
	(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
	4.35			48,182		1.47			1.47			2.06			15
	2.56			46,897		1.48			1.48			2.11			18
	(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
	4.51			43,300		1.22			1.22			2.31			15
	2.82			66,052		1.23			1.23			2.36			18
	(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
	5.37			6,138,037		0.47			0.47			3.06			15
	3.56			4,782,475		0.48			0.48			3.11			18
	(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

(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 and fees paid on borrowings, as described in Note 8 – Borrowing Arrangements.

(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.

* Annualized.

See accompanying notes to financial statements.

219

Financial Highlights (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:
2019	$	10.83	$	0.23	$	0.23		$	0.46		$	(0.21	)	$	—	$	(0.21	)	$	11.08
2018		10.88		0.21		(0.06	)		0.15			(0.20	)		—		(0.20	)		10.83
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
Class C (2/14)
Year Ended 3/31:
2019		10.78		0.14		0.24			0.38			(0.12	)		—		(0.12	)		11.04
2018		10.83		0.12		(0.06	)		0.06			(0.11	)		—		(0.11	)		10.78
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:
2019		10.80		0.19		0.24			0.43			(0.17	)		—		(0.17	)		11.06
2018		10.85		0.17		(0.06	)		0.11			(0.16	)		—		(0.16	)		10.80
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
Class I (2/97)
Year Ended 3/31:
2019		10.79		0.25		0.23			0.48			(0.23	)		—		(0.23	)		11.04
2018		10.83		0.23		(0.05	)		0.18			(0.22	)		—		(0.22	)		10.79
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

220

			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)
	4.27	%	$	1,015,540		0.63	%		0.63	%		2.07	%		0.63	%		0.63	%		2.07	%		27	%
	1.36			998,226		0.62			0.62			1.92			0.62			0.62			1.92			21
	(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
	3.52			83,991		1.43			1.43			1.27			1.43			1.43			1.27			27
	0.53			93,327		1.42			1.42			1.12			1.42			1.42			1.12			21
	(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
	3.97			192,174		0.98			0.98			1.71			0.98			0.98			1.71			27
	0.97			292,436		0.97			0.97			1.57			0.97			0.97			1.57			21
	(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
	4.46			4,014,613		0.43			0.43			2.27			0.43			0.43			2.27			27
	1.62			3,225,826		0.42			0.42			2.12			0.42			0.42			2.12			21
	(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

(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 and fees paid on borrowings, as described in Note 8 – Borrowing Arrangements.

(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.

* Annualized.

See accompanying notes to financial statements.

221

Financial Highlights (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:
2019	$	9.98	$	0.14		$	0.10		$	0.24		$	(0.13	)	$	—	$	(0.13	)	$	10.09
2018		10.04		0.11			(0.07	)		0.04			(0.10	)		—		(0.10	)		9.98
2017(g)		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
Class C (2/14)
Year Ended 3/31:
2019		9.96		0.06			0.09			0.15			(0.05	)		—		(0.05	)		10.06
2018		10.02		0.03			(0.07	)		(0.04	)		(0.02	)		—		(0.02	)		9.96
2017(g)		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(e)		10.15		—	**		0.01			0.01			(0.02	)		—		(0.02	)		10.14
Class C2 (8/11)(f)
Year Ended 3/31:
2019		9.97		0.11			0.09			0.20			(0.09	)		—		(0.09	)		10.08
2018		10.03		0.07			(0.06	)		0.01			(0.07	)		—		(0.07	)		9.97
2017(g)		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
Class I (10/02)
Year Ended 3/31:
2019		9.99		0.16			0.10			0.26			(0.15	)		—		(0.15	)		10.10
2018		10.04		0.13			(0.06	)		0.07			(0.12	)		—		(0.12	)		9.99
2017(g)		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

222

			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)
	2.42	%	$	156,526		0.72	%		1.44	%		0.72	%		1.44	%		45	%
	0.41			168,828		0.72			1.09			0.72			1.09			28
	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
	1.53			6,879		1.52			0.64			1.52			0.64			45
	(0.37	)		8,193		1.52			0.29			1.52			0.29			28
	(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
	2.05			6,147		1.06			1.07			1.06			1.07			45
	0.05			9,384		1.07			0.74			1.07			0.74			28
	(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
	2.62			433,253		0.52			1.64			0.52			1.64			45
	0.69			401,052		0.51			1.29			0.51			1.29			28
	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

(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) 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.

* Annualized.

** Rounds to less than $0.01 per share.

See accompanying notes to financial statements.

223

Notes to Financial Statements

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 (the “1940 Act”), as amended. Nuveen Municipal Trust is comprised of Nuveen All-American Municipal Bond Fund (“All-American”), 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 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 March 31, 2019, and the period covered by these Notes to Financial Statements is the fiscal year ended March 31, 2019 (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. 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	$	2,980,000	$	56,285,574	$	59,737,437	$	500,000

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 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.

224

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, if any, 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 (twelve months for shares of Short Term) 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.

225

Notes to Financial Statements (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, credit spreads, 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.

Futures contracts are valued using the closing settlement price or, in the absence of such a price, the last traded price and are generally classified as Level 1.

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	$	—		$	4,080,462,815	$	—		$	4,080,462,815
Corporate Bonds		—			—		689,625	***		689,625
Investments in Derivatives
Futures Contracts**		(445,938	)		—		—			(445,938	)
Total	$	(445,938	)	$	4,080,462,815	$	689,625		$	4,080,706,502

226

Intermediate Duration	Level 1		Level 2		Level 3			Total
Long-Term Investments*:
Municipal Bonds	$	—	$	6,550,593,054	$	—		$	6,550,593,054
Corporate Bonds		—		—		161,470	***		161,470
Short-Term Investments*:
Municipal Bonds		—		148,345,000		—			148,345,000
Total	$	—	$	6,698,938,054	$	161,470		$	6,699,099,524
Limited Term
Long-Term Investments*:
Municipal Bonds	$	—	$	5,163,728,959	$	—		$	5,163,728,959
Corporate Bonds		—		—		99,580	***		99,580
Short-Term Investments*:
Municipal Bonds		—		55,565,000		—			55,565,000
Total	$	—	$	5,219,293,959	$	99,580		$	5,219,393,539
Short Term
Long-Term Investments*:
Municipal Bonds	$	—	$	588,963,996	$	—		$	588,963,996
Short-Term Investments*:
Municipal Bonds		—		8,920,000		—			8,920,000
Total	$	—	$	597,883,996	$	—		$	597,883,996

* 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.

3. Portfolio Securities and Investments in Derivatives

Portfolio Securities

Inverse Floating Rate Securities

Each Fund 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

227

Notes to Financial Statements (continued)

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
Floating rate obligations: self-deposited Inverse Floaters	$	65,870,000	$	—
Floating rate obligations: externally-deposited Inverse Floaters		57,025,000		12,490,000
Total	$	122,895,000	$	12,490,000

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
Average floating rate obligations outstanding	$	65,870,000
Average annual interest rate and fees		2.07	%

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, there were no loans outstanding under any such facility.

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.

228

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
Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters	$	65,870,000	$	—
Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters		26,525,000		12,490,000
Total	$	92,395,000	$	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.

Futures Contracts

Upon execution of a futures contract, a Fund is obligated to deposit cash or eligible securities, also known as “initial margin,” into an account at its clearing broker equal to a specified percentage of the contract amount. Cash held by the broker to cover initial margin requirements on open futures contracts, if any, is recognized as “Cash collateral at brokers for investments in futures contracts” on the Statement of Assets and Liabilities. Investments in futures contracts obligate a Fund and the clearing broker to settle monies on a daily basis representing changes in the prior days “mark-to-market” of the open contracts. If a Fund has unrealized appreciation the clearing broker would credit the Fund’s account with an amount equal to appreciation and conversely if a Fund has unrealized depreciation the clearing broker would debit the Fund’s account with an amount equal to depreciation. These daily cash settlements are also known as “variation margin.” Variation margin is recognized as a receivable and/or payable for “Variation margin on futures contracts” on the Statement of Assets and Liabilities.

During the period the futures contract is open, changes in the value of the contract are recognized as an unrealized gain or loss by “marking-to- market” on a daily basis to reflect the changes in market value of the contract, which is recognized as a component of “Change in net unrealized appreciation (depreciation) of futures contracts” on the Statement of Operations. When the contract is closed or expired, a Fund records a realized gain or loss equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into, which is recognized as a component of “Net realized gain (loss) from futures contracts” on the Statement of Operations.

Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with a change in the value of the underlying securities or indices.

During the current fiscal period, All-American used U.S. Treasury futures to manage portfolio duration by shorting interest rate futures contracts.

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

	All-American
Average notional amount of futures contracts outstanding*	$	19,808,395

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

		Location on the Statement of Assets and Liabilities
		Asset Derivative				(Liability) Derivative
Underlying Risk Exposure	Derivative Instrument	Location	Value			Location	Value
All-American
Interest Rate	Futures Contracts	Receivable for variation margin on futures contracts*	$	(445,938	)	—	$	—

* Value represents unrealized appreciation (depreciation) of futures contracts as reported on the Fund’s Portfolio of Investments and not the asset and/or liability derivatives location as described in the table above.

229

Notes to Financial Statements (continued)

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on futures 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 Futures Contracts			Change in Net Unrealized Appreciation (Depreciation) of Futures Contracts
All-American	Interest Rate	Futures Contracts	$	(628,556	)	$	(445,938	)

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

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

	Year Ended 3/31/19						Year Ended 3/31/18
All-American	Shares			Amount			Shares			Amount
Shares sold:
Class A		44,885,366		$	510,454,387			37,019,397		$	428,622,217
Class A – automatic conversion of Class C2 Shares		369,166			4,226,950			—			—
Class C		4,082,141			46,333,449			4,865,658			56,353,003
Class C2		274,332			3,111,090			263,858			3,050,791
Class R6		610,541			6,998,807			67,767			786,901
Class I		67,092,270			765,538,207			57,132,588			663,853,663
Shares issued to shareholders due to reinvestment of distributions:
Class A		3,766,619			42,860,757			3,401,312			39,300,230
Class C		387,058			4,403,986			375,056			4,333,762
Class C2		351,352			4,000,384			497,955			5,755,245
Class R6		21,075			241,184			19,524			226,550
Class I		4,468,238			51,052,991			3,942,440			45,738,955
		126,308,158			1,439,222,192			107,585,555			1,248,021,317
Shares redeemed:
Class A		(30,801,045	)		(349,410,608	)		(24,768,984	)		(286,496,721	)
Class C		(3,998,324	)		(45,381,644	)		(3,304,098	)		(38,176,702	)
Class C2		(6,949,555	)		(79,294,817	)		(5,118,879	)		(59,115,147	)
Class C2 – automatic conversion to Class A Shares		(368,844	)		(4,226,950	)		—			—
Class R6		(147,294	)		(1,682,675	)		(88,033	)		(1,028,505	)
Class I		(57,735,354	)		(656,960,758	)		(34,004,158	)		(393,981,110	)
		(100,000,416	)		(1,136,957,452	)		(67,284,152	)		(778,798,185	)
Net increase (decrease)		26,307,742		$	302,264,740			40,301,403		$	469,223,132

230

	Year Ended 3/31/19						Year Ended 3/31/18
Intermediate Duration	Shares			Amount			Shares			Amount
Shares sold:
Class A		20,354,573		$	185,136,034			17,272,703		$	158,825,881
Class A – automatic conversion of Class C2 Shares		122,797			1,121,138			—			—
Class C		1,484,544			13,509,150			1,354,974			12,458,508
Class C2		93,556			849,989			74,153			682,342
Class I		272,722,979			2,485,415,929			142,614,038			1,311,887,608
Shares issued to shareholders due to reinvestment of distributions:
Class A		1,449,600			13,210,677			1,376,348			12,632,323
Class C		85,424			778,462			86,752			796,236
Class C2		98,697			899,888			136,197			1,251,527
Class I		10,487,256			95,835,014			9,510,022			87,499,275
		306,899,426			2,796,756,281			172,425,187			1,586,033,700
Shares redeemed:
Class A		(14,898,708	)		(135,493,790	)		(16,711,540	)		(153,692,907	)
Class C		(1,548,756	)		(14,072,502	)		(1,310,640	)		(12,031,662	)
Class C2		(2,681,340	)		(24,445,304	)		(2,363,411	)		(21,715,833	)
Class C2 – automatic conversion to Class A Shares		(122,663	)		(1,121,138	)		—			—
Class I		(149,655,811	)		(1,362,312,498	)		(122,103,858	)		(1,125,579,985	)
		(168,907,278	)		(1,537,445,232	)		(142,489,449	)		(1,313,020,387	)
Net increase (decrease)		137,992,148		$	1,259,311,049			29,935,738		$	273,013,313
	Year Ended 3/31/19						Year Ended 3/31/18
Limited Term	Shares			Amount			Shares			Amount
Shares sold:
Class A		29,184,682		$	318,224,542			23,800,621		$	260,779,546
Class A – automatic conversion of Class C2 Shares		196,511			2,140,101			—			—
Class C		2,039,063			22,105,146			1,625,162			17,719,092
Class C2		136,046			1,478,708			208,515			2,272,523
Class I		183,860,174			1,996,082,522			121,658,407			1,326,172,178
Shares issued to shareholders due to reinvestment of distributions:
Class A		1,478,557			16,130,854			1,484,329			16,250,187
Class C		73,469			798,511			78,676			857,987
Class C2		255,740			2,781,883			339,952			3,711,728
Class I		4,388,095			47,707,515			3,838,044			41,845,884
		221,612,337			2,407,449,782			153,033,706			1,669,609,125
Shares redeemed:
Class A		(31,421,757	)		(342,314,498	)		(33,701,300	)		(368,920,362	)
Class C		(3,159,190	)		(34,322,053	)		(3,392,100	)		(37,019,851	)
Class C2		(9,894,171	)		(107,597,791	)		(8,805,976	)		(96,323,551	)
Class C2 – automatic conversion to Class A Shares		(197,052	)		(2,140,101	)		—			—
Class I		(123,784,656	)		(1,343,244,178	)		(104,505,813	)		(1,138,998,932	)
		(168,456,826	)		(1,829,618,621	)		(150,405,189	)		(1,641,262,696	)
Net increase (decrease)		53,155,511		$	577,831,161			2,628,517		$	28,346,429

231

Notes to Financial Statements (continued)

	Year Ended 3/31/19						Year Ended 3/31/18
Short Term	Shares			Amount			Shares			Amount
Shares sold:
Class A		8,664,657		$	86,445,049			6,362,810		$	63,817,044
Class A – automatic conversion of Class C2 Shares		6,129			61,289			—			—
Class C		462,792			4,602,316			269,215			2,698,720
Class C2		27,088			269,876			141,314			1,412,183
Class I		21,616,358			216,250,681			13,648,333			137,163,144
Shares issued to shareholders due to reinvestment of distributions:
Class A		172,029			1,720,393			154,387			1,549,712
Class C		3,380			33,726			1,808			18,105
Class C2		6,475			64,673			6,829			68,475
Class I		307,594			3,080,097			211,215			2,121,613
		31,266,502			312,528,100			20,795,911			208,848,996
Shares redeemed:
Class A		(10,239,513	)		(102,425,941	)		(8,289,878	)		(83,240,102	)
Class C		(605,187	)		(6,037,377	)		(453,547	)		(4,546,073	)
Class C2		(358,632	)		(3,581,329	)		(413,484	)		(4,141,821	)
Class C2 – automatic conversion to Class A Shares		(6,135	)		(61,289	)		—			—
Class I		(19,157,751	)		(191,799,143	)		(16,529,834	)		(166,130,498	)
		(30,367,218	)		(303,905,079	)		(25,686,743	)		(258,058,494	)
Net increase (decrease)		899,284		$	8,623,021			(4,890,832	)	$	(49,209,498	)

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		Intermediate Duration		Limited Term		Short Term
Purchases	$	1,442,679,022	$	2,155,406,436	$	2,056,931,954	$	366,257,683
Sales and maturities		1,119,400,168		900,088,514		1,294,598,685		259,594,184

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.

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 March 31, 2019.

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.

232

	All- American			Intermediate Duration			Limited Term			Short Term
Tax cost of investments	$	3,778,338,085		$	6,440,330,771		$	5,129,552,520		$	593,420,673
Gross unrealized:
Appreciation		242,812,744			268,528,439			103,518,892			5,240,377
Depreciation		(5,868,937	)		(9,759,686	)		(13,677,873	)		(777,054	)
Net unrealized appreciation (depreciation) of investments	$	236,943,807		$	258,768,753		$	89,841,019		$	4,463,323

	All- American
Tax cost of futures contracts	$	(445,938	)
Net unrealized appreciation (depreciation) of futures contracts	$	—

Permanent differences, primarily due to federal taxes paid, taxable market discount and expiration of capital loss carryforwards, resulted in reclassifications among the Funds’ components of net assets as of March 31, 2019, the Funds’ tax year end.

The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of March 31, 2019, the Funds’ tax year end, were as follows:

	All- American		Intermediate Duration		Limited Term		Short Term
Undistributed net tax-exempt income1	$	14,723,072	$	28,811,589	$	20,097,766	$	2,629,170
Undistributed net ordinary income2		173,795		204,558		39,163		1,204
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, 2019 through March 31, 2019, and paid on April 1, 2019.

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’ tax years ended March 31, 2019 and March 31, 2018 was designated for purposes of the dividends paid deduction as follows:

2019	All- American		Intermediate Duration		Limited Term		Short Term
Distributions from net tax-exempt income3	$	137,201,532	$	170,967,589	$	94,254,092	$	8,133,742
Distributions from net ordinary income2		895,949		688,743		441,733		—
Distributions from net long-term capital gains		—		—		—		—
2018	All- American		Intermediate Duration		Limited Term		Short Term
Distributions from net tax-exempt income	$	127,290,281	$	152,487,270	$	85,078,646	$	6,692,486
Distributions from net ordinary income2		1,159,105		627,119		803,097		46,741
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.

³  The Funds hereby designate these amounts paid during fiscal year ended March 31, 2019, as Exempt Interest Dividends.

As of March 31, 2019, the Funds’ tax year end, the Funds had unused capital losses carrying forward available for federal income tax purposes to be applied against future capital gains, if any. The capital losses are not subject to expiration.

	All- American		Intermediate Duration		Limited Term		Short Term
Not subject to expiration:
Short-term	$	57,655,958	$	12,385,181	$	7,579,572	$	248,748
Long-term		20,089,172		8,731,861		14,426,189		1,167,863
Total	$	77,745,130	$	21,117,042	$	22,005,761	$	1,416,611

As of March 31, 2019, the Funds’ tax year end, the following Funds’ capital loss carryforwards expired as follows:

	All- American		Limited Term
Expired capital loss carryforwards	$	881,168	$	1,598,268

233

Notes to Financial Statements (continued)

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.

The annual Fund-level fee, payable monthly, for each Fund is calculated according to the following schedule:

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

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 Eligible Asset Breakpoint Level*	Effective Complex-Level Fee 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 open-end and closed-end 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 March 31, 2019, the complex-level fee for each Fund was as follows:

Fund	Complex-Level Fee
All-American		0.1628	%
Intermediate Duration		0.1628
Limited Term		0.1588
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, 2020, 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
Intermediate Duration		N/A	N/A		0.75

N/A – Not applicable.

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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 Funds engaged in inter-fund trades pursuant to these procedures as follows:

Inter-Fund Trades	All- American		Short Term
Purchases	$	10,210,102	$	1,115,480
Sales		10,238,865		—

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		Intermediate Duration		Limited Term		Short Term
Sales charges collected (Unaudited)	$	3,434,188	$	1,082,644	$	798,953	$	130,341
Paid to financial intermediaries (Unaudited)		3,308,050		1,050,199		773,565		127,489

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		Intermediate Duration		Limited Term		Short Term
Commission advances (Unaudited)	$	2,832,337	$	1,025,307	$	765,694	$	123,434

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		Intermediate Duration		Limited Term		Short Term
12b-1 fees retained (Unaudited)	$	417,228	$	87,471	$	118,758	$	9,573

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		Intermediate Duration		Limited Term		Short Term
CDSC retained (Unaudited)	$	184,472	$	40,465	$	136,318	$	33,140

8. Borrowing Arrangements

Committed Line of Credit

The Funds, along with certain other funds managed by the Adviser (“Participating Funds”), have established a 364-day, approximately $2.65 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. Each Participating Fund is allocated a designated proportion of the facility’s capacity (and its associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the Fund, relative to those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other Participating Funds have undrawn capacity. The credit facility expires in July 2019 unless extended or renewed.

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Notes to Financial Statements (continued)

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 1.00% per annum or (b) the Fed Funds rate plus 1.00% per annum on amounts borrowed. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of “Interest expense” 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 Funds utilized this facility. The Fund’s maximum outstanding balance during the utilization period was as follows:

	All- American		Intermediate Duration		Limited Term		Short Term
Maximum Outstanding Balance	$	33,900,000	$	41,200,000	$	63,700,000	$	5,800,000

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

	All- American			Intermediate Duration			Limited Term			Short Term
Average daily balance outstanding	$	17,873,170		$	19,305,555		$	19,566,183		$	5,800,000
Average annual interest rate		3.32	%		3.13	%		3.02	%		2.98	%

Borrowings outstanding as of the end of the reporting period are recognized as “Borrowings” on the Statement of Assets and Liabilities.

9. New Accounting Pronouncements

Disclosure Update and Simplification

During August 2018, the Securities and Exchange Commission (the “SEC”) issued Final Rule Release No. 33-10532, Disclosure Update and Simplification (“Final Rule Release No. 33-10532”). Final Rule Release No. 33-10532 amends certain financial statement disclosure requirements to conform to U.S. GAAP. The amendments to Rule 6-04.17 of Regulation S-X (balance sheet) remove the requirement to separately state the book basis components of net assets: undistributed (over-distribution of) net investment income (“UNII”), accumulated undistributed net realized gains (losses), and net unrealized appreciation (depreciation) at the balance sheet date. Instead, consistent with U.S. GAAP, funds will be required to disclose total distributable earnings. The amendments to Rule 6-09 of Regulation S-X (statement of changes in net assets) remove the requirement to separately state the sources of distributions paid. Instead, consistent with U.S. GAAP, funds will be required to disclose the total amount of distributions paid, except that any tax return of capital must be separately disclosed. The amendments also remove the requirement to parenthetically state the book basis amount of UNII on the statement of changes in net assets.

The requirements of Final Rule Release No. 33-10532 are effective November 5, 2018, and the Fund’s Statement of Assets and Liabilities and Statement of Changes in Net Assets for the current reporting period have been modified accordingly. In addition, certain amounts within the Fund’s Statement of Changes in Net Assets for the prior fiscal period have been modified to conform to Final Rule Release No. 33-10532. For the prior fiscal period, the total amount of distributions paid to shareholders from net investment income and from accumulated net realized gains, if any, are recognized as “Dividends” on the Statement of Changes in Net Assets.

As of March 31, 2018, the Funds’ Statement of Changes in Net Assets reflected the following UNII balances.

	All- American		Intermediate Duration		Limited Term		Short Term
UNII at the end of the period	$	4,174,189	$	16,442,193	$	9,527,794	$	1,118,853

Fair Value Measurement: Disclosure Framework

During August 2018, the FASB issued ASU 2018-13 (“ASU 2018-13”), Fair Value Measurement: Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements. ASU 2018-13 modifies the disclosures required by Topic 820, Fair Value Measurements. The amendments in ASU 2018-13 are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. During the current reporting period, management early implemented this guidance. This implementation did not have a material impact on the Funds’ financial statements.

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Additional Fund Information (Unaudited)

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 53212 Legal Counsel Chapman and Cutler LLP Chicago, IL 60603 Transfer Agent and
Shareholder Services DST Asset Manager Solutions, Inc. (DST) P.O. Box 219140 Kansas City, MO 64121-9140 (800) 257-8787

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 as an exhibit to its report on Form N-PORT. You may obtain this information on the SEC’s website at http://www.sec.gov.

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.

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Glossary of Terms Used in this Report

(Unaudited)

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.

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.

Gross Domestic Product (GDP): The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.

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.

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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.

239

Annual Investment Management Agreement Approval Process

(Unaudited)

At a meeting held on May 22-24, 2018 (the “May Meeting”), the Board of Trustees or Directors, as applicable (each, a “Board,” and each Trustee or Director, a “Board Member”) of the Funds, including the Board Members who are not “interested persons” (as defined under the Investment Company Act of 1940 (the “1940 Act”)) (the “Independent Board Members”), approved, for each of its respective Fund(s), the renewal of the management agreement (the “Investment Management Agreement”) with Nuveen Fund Advisors, LLC (the “Adviser”) pursuant to which the Adviser serves as investment adviser to such Fund and the sub-advisory agreement (the “Sub-Advisory Agreement”) with Nuveen Asset Management, LLC (the “Sub-Adviser”) pursuant to which the Sub-Adviser serves as investment sub-adviser to such Fund. Following an initial two-year period, the Board, including the Independent Board Members, is required under the 1940 Act to review and approve each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub-Advisory Agreements are collectively referred to as the “Advisory Agreements” and the Adviser and the Sub-Adviser are collectively, the “Fund Advisers” and each, a “Fund Adviser.”

In response to a request on behalf of the Independent Board Members by independent legal counsel, the Board received and reviewed prior to the May Meeting extensive materials specifically prepared for the annual review of Advisory Agreements by the Adviser as well as by Broadridge Financial Solutions, Inc. (“Broadridge” or “Lipper”), an independent provider of investment company data. The materials provided in connection with the annual review covered a breadth of subject matter including, but not limited to, a description of the nature, extent and quality of services provided by each Fund Adviser; a review of the Sub-Adviser and the applicable investment team(s); an analysis of fund performance in absolute terms and as compared to the performance of certain peer funds and benchmarks with a focus on any performance outliers; an analysis of the fees and expense ratios of the Nuveen funds in absolute terms and as compared to those of certain peer funds with a focus on any expense outliers; a description of portfolio manager compensation; a review of the performance of various service providers; a description of various initiatives Nuveen had undertaken or continued during the year for the benefit of particular Nuveen fund(s) and/or the complex; a description of the profitability or financial data of Nuveen and the various sub-advisers to the Nuveen funds; and a description of indirect benefits received by the Fund Advisers as a result of their relationships with the Nuveen funds. The Independent Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements. The Board Members held an in-person meeting on April 10-11, 2018 (the “April Meeting”), in part, to review and discuss the performance of the Nuveen funds and the Adviser’s evaluation of the various sub-advisers to the Nuveen funds. Prior to the May Meeting, the Board Members also received and reviewed supplemental information provided in response to questions posed by the Board Members.

The information prepared specifically for the annual review of the Advisory Agreements supplemented the information provided to the Board and its committees throughout the year. The Board and its committees met regularly during the year and the information provided and topics discussed were relevant to the review of the Advisory Agreements. Some of these reports and other data included, among other things, materials that outlined the investment performance of the Nuveen funds; strategic plans of the Adviser which may impact the services it provides to the Nuveen funds; the review of the Nuveen funds and applicable investment teams; compliance, regulatory and risk management matters; the trading practices of the various sub-advisers; valuation of securities; fund expenses; payments to financial intermediaries, including 12b-1 fees and sub-transfer agency fees; and overall market and regulatory developments. The Board further continued its practice of seeking to meet periodically with the various sub-advisers to the Nuveen funds and their investment teams, when feasible. As a result, the Independent Board Members considered the review of the Advisory Agreements to be an ongoing process and employed the accumulated information, knowledge, and experience the Board Members had gained during their tenure on the boards governing the Nuveen funds and working with the Fund Advisers in their review of the Advisory Agreements. Throughout the year and during the annual review of Advisory Agreements, the Independent Board Members met in executive sessions with independent legal counsel and had the benefit of counsel’s advice.

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 provided, and each Board Member may have attributed different levels of importance 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 deciding to renew 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. With respect to the Adviser, the Board recognized the comprehensive set of management, oversight and administrative services the Adviser and its affiliates provided to manage and operate the Nuveen funds in a highly regulated industry. As illustrative, these services included, but were not limited to, product management; investment oversight, risk management and securities valuation services; fund accounting and administration services; board support and administration services; compliance and regulatory oversight services; and legal support.

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In addition to the services necessary to operate and maintain the Nuveen funds, the Board recognized the Adviser’s continued program of improvements and innovations to make the Nuveen fund complex more relevant and attractive to existing and new investors and to accommodate the new and changing regulatory requirements in an increasingly complex regulatory environment. The Board noted that some of the initiatives the Adviser had taken over recent years to benefit the complex and particular Nuveen funds included, among other things:

• Fund Rationalizations – continuing efforts to rationalize the product line through mergers, liquidations and repositionings in seeking to enhance shareholder value over the years through increased efficiency, reduced costs, improved performance and revised investment approaches more relevant to current shareholder needs;

• Product Innovations – developing product innovations and launching new products that will help the Nuveen fund complex offer a variety of products that will attract new investors and retain existing investors, such as launching the target term funds, exchange-traded funds (“ETFs”) and multi-asset class funds;

• Risk Management Enhancements – continuing efforts to enhance risk management, including enhancing reporting to increase the efficiency of risk monitoring, implementing programs to strengthen the ability to detect and mitigate operational risks, dedicating resources and staffing necessary to create standards to help ensure compliance with new liquidity requirements, and implementing a price verification system;

• Additional Compliance Services – the continuing investment of significant resources, time and additional staffing to meet the various new regulatory requirements affecting the Nuveen funds over the past several years, the further implementation of unified compliance policies and processes, the development of additional compliance training modules, and the reorganization of the compliance team adding further depth to its senior leadership; and

• Expanded Dividend Management Services – as the Nuveen fund complex has grown, the additional services necessary to manage the distributions of the varied funds offered and investing in automated systems to assist in this process.

In addition to the services provided by the Adviser, the Board also noted the business related risks the Adviser incurred in managing the Nuveen funds, including entrepreneurial, legal and litigation risks.

The Board further considered the division of responsibilities between the Adviser and the Sub-Adviser and the investment and compliance oversight over the Sub-Adviser provided by the Adviser. The Board recognized that the Sub-Adviser generally provided the 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, the members’ experience and any changes to the team during the year, the team’s assets under management, the stability and history of the organization, the team’s investment approach and the performance of the Funds over various periods. 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 considered the investment performance of each Fund. In this regard, the Board reviewed fund performance over the quarter, one-, three- and five-year periods ending December 31, 2017 as well as performance data for the first quarter of 2018 ending March 31, 2018. For open-end Nuveen funds with multiple classes, the performance data was based on Class A shares and the performance of other classes should be substantially similar as they invest in the same portfolio of securities and differences in performance among the classes would be principally attributed to the variations in the expense structures of the classes. The Independent Board Members noted that they reviewed and discussed fund performance over various time periods with management at their quarterly meetings throughout the year and their review and analysis of performance during the annual review of Advisory Agreements incorporated such discussions.

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 Board considered the Adviser’s analysis of each Nuveen fund’s performance, including, in particular, an analysis of the Nuveen funds determined to be performance outliers and the factors contributing to their underperformance.

In reviewing performance data, the Independent Board Members appreciated some of the inherent limitations of such data. In this regard, the Independent Board Members recognized that there may be limitations with the comparative data of certain peer groups or benchmarks as they may pursue objective(s), strategies or have other characteristics that are different from the respective Nuveen fund and therefore the performance results necessarily are different and limit the value of the comparisons. As an example, some funds may utilize leverage which may add to or detract from performance compared to an unlevered benchmark. The Independent Board Members also noted that management had ranked the relevancy of the peer group as low, medium or high to help the Board evaluate the value of the comparative peer performance data. The Board was aware that the performance data was measured as of a specific date and a different time period may reflect significantly different results and a period of underperformance can significantly impact long-term performance figures. The Board further recognized that 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.

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

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. The Independent Board Members noted that only a limited number of the Nuveen funds appeared to be underperforming performance outliers at the end of 2017 and considered the factors contributing to the respective fund’s performance and whether there were any performance concerns that needed to be addressed. The Board recognized that some periods of underperformance may only be temporary while other periods of underperformance may indicate a broader issue that may require a corrective action. Accordingly, with respect to any Nuveen funds for which the Board had identified performance issues, the Board monitors such funds closely until performance improves, discusses with the Adviser the reasons for such results, considers whether any steps are necessary or appropriate to address such issues, and reviews the results of any efforts undertaken.

For Nuveen All-American Municipal Bond Fund (the “All-American Fund”), the Board noted that the Fund ranked in the first quartile of its Performance Peer Group in the one-, three- and five-year periods and outperformed its benchmark in such periods. The Board was satisfied with the Fund’s overall performance.

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

C. Fees, Expenses and Profitability

1. Fees and Expenses

In its annual review, the Board considered the fees paid to the Fund Advisers and the total operating expense ratio of each Fund, before and after any undertaking by Nuveen to limit the Fund’s total annual operating expenses to certain levels. More specifically, the Independent Board Members reviewed, among other things, each Fund’s gross and net management fee rates (i.e., before and after expense reimbursements and/or fee waivers, if any) and net total expense ratio in relation to those of a comparable universe of funds (the “Peer Universe”) and to a more focused subset of comparable funds (the “Peer Group”) established by Broadridge. The Independent Board Members reviewed the methodology Broadridge employed to establish its Peer Universe and Peer Group and recognized that differences between the applicable fund and its respective Peer Universe and/or Peer Group may limit some of the value of the comparative data. The Independent Board Members also considered a fund’s operating expense ratio as it more directly reflected the shareholder’s costs in investing in the respective fund. In their review, the Independent Board Members considered, in particular, each fund with a net expense ratio of six basis points or higher compared to that of its peer average (each an “Expense Outlier Fund”). The Board noted that the number of Nuveen funds classified as an Expense Outlier Fund pursuant to the foregoing criteria had decreased over the past few years with only a limited number of the Nuveen funds identified as Expense Outlier Funds in 2017. The Independent Board Members reviewed an analysis as to the factors contributing to each such fund’s higher relative net expense ratio. Accordingly, in reviewing the comparative data between a fund and its peers, the Board generally considered the fund’s net expense ratio 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.

In their review of the fee arrangements for the Nuveen funds, the Independent Board Members considered the management fee schedules, including the complex-wide and fund-level breakpoint schedules, and the expense reimbursements and/or fee waivers provided by Nuveen for each fund, as applicable. The Independent Board Members noted that the management fees and/or expense caps of various open-end funds had been reduced in 2016 and the fund-level breakpoint schedules also had been revised in 2017 for certain open-end funds resulting in the addition of more breakpoints in the management fee schedules of such funds. The Board considered that across the Nuveen fund complex, the complex-wide fee breakpoints reduced fees by $47.4 million and fund-level breakpoints reduced fees by $54.6 million in 2017. Further, fee caps and waivers for all applicable Nuveen funds saved an additional $16.7 million in fees for shareholders in 2017.

The Board considered the sub-advisory fees paid to the Sub-Adviser, including any breakpoint schedule, and as described below, comparative data of the fees the Sub-Adviser charges to other clients.

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The Independent Board Members noted that: (a) the Short Term Fund had a net management fee slightly higher than its Peer Group average, but a net expense ratio in line with its Peer Group average; (b) the All-American Fund had a net management fee and a net expense ratio below its Peer Group averages; and (c) the Limited Term Fund and the Intermediate Duration Fund each had a net management fee in line with its respective Peer Group average, but a net expense ratio below its respective Peer Group average.

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

In determining the appropriateness of fees, the Board also reviewed information regarding the fee rates the respective Fund Advisers charged for certain other types of clients and the type of services provided to these other clients. With respect to the Adviser and/or affiliated sub-advisers to the municipal funds, such other clients may include retail and institutional managed accounts, passively managed ETFs sub-advised by the Sub-Adviser but that are offered by another fund complex and municipal managed accounts offered by an unaffiliated adviser.

The Board recognized that each Fund had an affiliated sub-adviser and reviewed, among other things, the range of fees and average fee rates assessed for managed accounts. In addition to the comparative fee data, the Board also reviewed, among other things, a description of the different levels of services provided to other clients compared to the services provided to the Nuveen funds as well as the differences in portfolio investment policies, investor profiles, account sizes and regulatory requirements, all of which contribute to the variations in the fee schedules. In general, the Board noted that the higher fee levels reflect higher levels of services provided by Nuveen, increased investment management complexity, greater product management requirements and higher levels of business risk or some combination of these factors. The Board further considered that the Sub-Adviser’s fee is essentially for portfolio management services and therefore more comparable to the fees it receives for retail wrap accounts and other external sub-advisory mandates. The Board concluded the varying levels of fees were justified given, among other things, the inherent differences in the products and the level of services provided to the Nuveen funds versus other clients, the differing regulatory requirements and legal liabilities and the entrepreneurial risks incurred in sponsoring and advising a registered investment company.

3. Profitability of Fund Advisers

In conjunction with their review of fees, the Independent Board Members considered Nuveen’s level of profitability for its advisory services to the Nuveen funds for the calendar years 2017 and 2016. In considering profitability, the Independent Board Members reviewed the level of profitability realized by Nuveen including and excluding any distribution expenses incurred by Nuveen from its own resources. The Independent Board Members also reviewed a description of the expense allocation methodology employed to develop the financial information and a summary of the history of changes to the methodology over the years. For comparability purposes, the Board recognized that a prior year’s profitability would be restated to reflect any refinements to the methodology. The Independent Board Members were aware of the inherent limitations in calculating profitability as the use of different reasonable allocation methodologies may lead to significantly different results and in reviewing profitability margins over extended periods given the refinements to the methodology over time. The Board noted that two Independent Board Members, along with independent counsel, serve as the Board’s liaisons to review and discuss any proposed changes to the methodology prior to the full Board’s review.

In their review, the Independent Board Members evaluated, among other things, Nuveen’s adjusted operating margins, 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 and before distribution) of Nuveen for fund advisory services 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 2017 versus 2016. The Board noted that Nuveen recently launched its ETF product line in 2016 and reviewed the revenues, expenses and operating margin from this product line.

In addition to reviewing Nuveen’s profitability in absolute terms, the Independent Board Members also examined comparative profitability data reviewing, among other things, the revenues, expenses and 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) for 2017 and as compared to their adjusted operating margins for 2016. The Independent Board Members, however, recognized the difficulty in comparing the profitability of various fund managers given the limited public information available and the subjective nature of calculating profitability which may be affected by numerous factors including the fund manager’s organizational structure, types of funds, other lines of business, methodology used to allocate expenses and cost of capital. Nevertheless, considering such limitations and based on the information provided, the Board noted that Nuveen’s adjusted operating margins appeared reasonable when compared to the adjusted margins of the peers.

Aside from Nuveen’s profitability, the Board recognized that the Adviser is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America (“TIAA”). As such, the Board also reviewed a balance sheet for TIAA reflecting its assets, liabilities and capital and contingency reserves for the 2017 and 2016 calendar years to consider the financial strength of TIAA.

243

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

In reviewing profitability, the Independent Board Members also considered the profitability of the various sub-advisers from their relationships with the respective Nuveen fund(s). 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, 2017. 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, 2017 and the pre- and post-tax revenue margin from 2017 and 2016.

In evaluating the reasonableness of the compensation, the Independent Board Members also considered any other ancillary benefits derived by the respective Fund Adviser from its relationship with the Nuveen funds as discussed in further detail below.

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

The Independent Board Members considered the extent to which economies of scale may be achieved as a Fund grows and whether these economies of scale have been shared with shareholders. Although the Board recognized that economies of scale are difficult to measure, the Independent Board Members noted that there are several methods that may be used in seeking to share economies of scale, 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 breakpoint schedules, because the Board had previously recognized that economies of scale may occur not only when the assets of a particular fund grow but also when the assets in the complex grow, the Nuveen funds generally pay the Adviser a management fee comprised of a fund-level component and a complex-level component each with its own breakpoint schedule, subject to certain exceptions. In general terms, the breakpoint schedule at the fund level reduces fees as assets in the particular fund pass certain thresholds and the breakpoint schedule at the complex level reduces fees on certain funds as the eligible assets in the complex pass certain thresholds. Subject to exceptions for certain Nuveen funds, the Independent Board Members reviewed the fund-level and complex-level fee schedules and any resulting savings in fees. The Board also recognized that the fund-level breakpoint schedule for certain Nuveen funds had been revised in 2016.

Aside from the breakpoint schedules, the Independent Board Members also reviewed the temporary and/or permanent expense caps applicable to certain Nuveen funds (including, for the Intermediate Duration Fund, its permanent expense cap) which may also serve as a means to share economies of scale. Based on the information provided, the Independent Board Members noted that the combination of fund-level breakpoints, complex-level breakpoints and fund-specific fee waivers reflected a total of $118.6 million in fee reductions in 2017. In addition, the Independent Board Members recognized the Adviser’s continued reinvestment in its business through, among other things, improvements in technology, additional staffing, product innovations and other organizational changes designed to expand or enhance the services provided to the benefit of all of the Nuveen funds.

Based on its review, the Board concluded that the current fee arrangements together with the Adviser’s reinvestment in its business appropriately shared any economies of scale with shareholders.

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. The Independent Board Members reviewed the revenues that an affiliate of the Adviser received in 2017 as a result of serving as principal underwriter to the open-end funds from 12b-1 distribution and shareholder servicing fees (except for Nuveen’s Nushares ETFs which currently do not incur 12b-1 fees).

In addition to the above, the Independent Board Members considered whether the Sub-Adviser uses commissions paid by the Funds on portfolio transactions to obtain research products and other services (“soft dollar transactions”). The Board recognized that the Sub-Adviser may benefit from research received from broker-dealers that execute Fund portfolio transactions. The Board, however, noted that the benefits for sub-advisers transacting in fixed-income securities may be more limited as such securities generally trade on a principal basis and therefore do not generate brokerage commissions. Further, the Board noted that although the Sub-Adviser may benefit from the receipt of research and other services that it may otherwise have to pay for out of its own resources, the research may also benefit the Funds to the extent it enhances the ability of the Sub-Adviser to manage the Funds or is acquired through the commissions paid on portfolio transactions of other funds or clients.

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.

244

Trustees and Officers

(Unaudited)

The management of the Funds, including general supervision of the duties performed for the Funds by the Adviser, is the responsibility of the Board of Trustees of the Funds. The number of Trustees of the Funds is currently set at ten. None of the Trustees who are not “interested” persons of the Funds (referred to herein as “Independent Trustees”) has ever been a Trustee or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the Trustees and officers of the Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each oversees and other directorships they hold are set forth below.

The Funds’ Statement of Additional Information (“SAI”) includes more information about the Trustees. To request a free copy, call Nuveen Investments at (800) 257-8787 or visit the Funds’ website at www.nuveen.com.

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Independent Trustees:
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606	Chairman and Trustee	2008	Formerly, a Co-Founding Partner, Promus Capital (2008-2017); Director, Fulcrum IT Service LLC (since 2010) and Quality Control Corporation (since 2012); member: Catalyst Schools of Chicago Board (since 2008) and Mather Foundation Board (since 2012), and chair of its investment committee; formerly, Director, Legal & General Investment Management America, Inc. (2008-2013); formerly, CEO and President, Northern Trust Global Investments (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (since 1994); formerly, Member, Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003-2007) and Northern Trust Hong Kong Board (1997-2004).	168
Jack B. Evans 1948 333 W. Wacker Drive Chicago, IL 60606	Trustee	1999	Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine Foundation, a private philanthropic corporation; Director and Chairman, United Fire Group, a publicly held company; Director, Public member, American Board of Orthopaedic Surgery (since 2015); Life Trustee of Coe College and the Iowa College Foundation; formerly, President Pro-Tem of the Board of Regents for the State of Iowa University System; formerly, Director, Alliant Energy and The Gazette Company; formerly, Director, Federal Reserve Bank of Chicago; formerly, President and Chief Operating Officer, SCI Financial Group, Inc., a regional financial services firm.	168
William C. Hunter 1948 333 W. Wacker Drive Chicago, IL 60606	Trustee	2003	Dean Emeritus, formerly, Dean, Tippie College of Business, University of Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director (2005-2015), and past President (2010-2014) Beta Gamma Sigma, Inc., The International Business Honor Society; formerly, Director (2004-2018) of Xerox Corporation; Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University.	168

245

Trustees and Officers (Unaudited) (continued)

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606	Trustee	2016	Founder and Chief Executive Officer, Northcroft Partners, LLC, a management consulting firm (since 2012); Chairman (since 2019), and Director (since 2012), USA Technologies, Inc., a provider of solutions and services to facilitate electronic payment transactions (since 2012); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President, One Point Services at One Point Communications (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (1996-1997); formerly, various executive positions (1991-1996) and Chief Executive Officer (1995-1996) of Zenith Electronics Corporation.	168
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606	Trustee	2013	Member of Board of Directors of Core12 LLC (since 2008), a private firm which develops branding, marketing and communications strategies for clients; serves on The President’s Council, Fordham University (since 2010); and previously was a Director of The Curran Center for Catholic American Studies (2009-2018) formerly, senior external advisor to the financial services practice of Deloitte Consulting LLP (2012-2014); formerly, Chairman of the Board of Trustees of Marian University (2010 as trustee, 2011-2014 as Chairman); formerly, Chief Executive Officer of ABN AMRO N.V. North America, and Global Head of its Financial Markets Division (2007-2008); prior senior positions held at ABN AMRO include Corporate Executive Vice President and Head of Global Markets-the Americas (2006-2007), CEO of Wholesale Banking-North America and Global Head of Foreign Exchange and Futures Markets (2001-2006), and Regional Commercial Treasurer and Senior Vice President Trading-North America (1996-2001); formerly, Trustee at St. Edmund Preparatory School in New York City.	168
Judith M. Stockdale 1947 333 W. Wacker Drive Chicago, IL 60606	Trustee	1997	Board Member, Land Trust Alliance (since 2013) and U.S. Endowment for Forestry and Communities (since 2013); formerly, Executive Director (1994-2012), Gaylord and Dorothy Donnelley Foundation; prior thereto, Executive Director, Great Lakes Protection Fund (1990-1994).	168
Carole E. Stone 1947 333 W. Wacker Drive Chicago, IL 60606	Trustee	2007	Former Director, Chicago Board Options Exchange (2006-2017), and C2 Options Exchange, Incorporated (2009-2017); Director, Cboe L.C. Global Markets, Inc., formerly, CBOE Holdings, Inc. (since 2010); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010).	168
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606	Trustee	2016	Formerly, member of the Board of Directors (2013-2017) of Travelers Insurance Company of Canada and The Dominion of Canada General Insurance Company (each, a part of Travelers Canada, the Canadian operation of The Travelers Companies, Inc.); formerly, Of Counsel, Skadden, Arps, Slate, Meagher & Flom LLP (Mergers & Acquisitions Group) (2005-2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member (since 2004) and Chair (since 2015) of the Board of Trustees of The John A. Hartford Foundation (a philanthropy dedicated to improving the care of older adults); formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of Trustees of Mt. Holyoke College.	168

246

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Robert L. Young(2) 1963 333 W. Wacker Drive Chicago, IL 60606	Trustee	2017	Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (2010-2016); formerly, President and Principal Executive Officer (2013-2016), and Senior Vice President and Chief Operating Officer (2005-2010), of J.P. Morgan Funds; formerly, Director and various officer positions for J.P. Morgan Investment Management Inc. (formerly, JPMorgan Funds Management, Inc. and formerly, One Group Administrative Services) and JPMorgan Distribution Services, Inc. (formerly, One Group Dealer Services, Inc.) (1999-2017).	166

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (1)	Principal Occupation(s) Including other Directorships During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee
Interested Trustee:
Margo L. Cook(3) 1964 333 W. Wacker Drive Chicago, IL 60606	Trustee	2016	President (since 2017), formerly, Co-Chief Executive Officer and Co-President (2016-2017), formerly, Senior Executive Vice President of Nuveen Investments, Inc; Executive Vice President (since 2017) of Nuveen, LLC; President, Global Products and Solutions (since 2017), and Co-Chief Executive Officer (since 2015), formerly, Executive Vice President (2013-2015) of Nuveen Securities, LLC; President (since 2017), formerly, Co-President (2016-2017), formerly Senior Executive Vice President (2015-2016) of Nuveen Fund Advisors, LLC (Executive Vice President 2011-2015); President (since 2017), Nuveen Alternative Investments, LLC; Chartered Financial Analyst.	168

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (4)	Principal Occupation(s) During Past 5 Years
Officers of the Funds:
Greg A. Bottjer 1971 333 W. Wacker Drive Chicago, IL 60606	Chief Administrative Officer	2016	Senior (since 2017) Managing Director (since 2011), formerly, Senior Vice President (2007-2010) of Nuveen; Senior (since 2017) Managing Director (since 2016) of Nuveen Fund Advisors, LLC; Chartered Financial Analyst.
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402	Vice President and Assistant Secretary	2013	Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund Advisors (since 2017); Vice President and Associate General Counsel of Nuveen (since 2013) and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset Management (since March 2018).
Diana R. Gonzalez 1978 333 West Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2017	Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President and Associate General Counsel of Nuveen (since 2017); Associate General Counsel of Jackson National Asset Management (2012-2017).
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606	Vice President and Treasurer	2016	Managing Director (since 2017), formerly, Senior Vice President (2016-2017), formerly, Vice President (2011- 2016) of Nuveen; Managing Director of Nuveen Fund Advisors, LLC; Chartered Financial Analyst.
Walter M. Kelly 1970 333 W. Wacker Drive Chicago, IL 60606	Chief Compliance Officer and Vice President	2003	Managing Director (since 2017), formerly, Senior Vice President (2008-2017) of Nuveen Investments Holdings, Inc.

247

Trustees and Officers (Unaudited) (continued)

Name, Year of Birth & Address	Position(s) Held with the Funds	Year First Elected or Appointed (4)	Principal Occupation(s) During Past 5 Years
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606	Vice President	2002	Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of Nuveen Securities, LLC.
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2007	Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary (since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and Managing Director (2008-2016); Senior Managing Director (since 2017), Secretary (since 2016) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC, formerly, Executive Vice President (2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior Managing Director (since 2017), Secretary (since 2016) and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC, formerly Executive Vice President (2016-2017) and Managing Director and Assistant Secretary (2011-2016); Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Investments Advisers, LLC, formerly Executive Vice President (2016-2017); Vice President (since 2007) and Secretary (since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Symphony Asset Management, LLC, Santa Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC.
Christopher M. Rohrbacher 1971 333 W. Wacker Drive Chicago, IL 60606	Vice President and Secretary	2008	Managing Director (since 2017) and Assistant Secretary of Nuveen Securities, LLC; Managing Director (since 2017), formerly, Senior Vice President (2016-2017) and Assistant Secretary (since 2016) of Nuveen Fund Advisors, LLC.
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606	Vice President	2017	Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President (2011-2016) of Nuveen.
Joel T. Slager 1978 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	2013	Fund Tax Director for Nuveen Funds (since 2013); previously, Vice President of Morgan Stanley Investment Management, Inc., Assistant Treasurer of the Morgan Stanley Funds (from 2010 to 2013).
E. Scott Wickerham 1973 TIAA 730 Third Avenue New York, NY 10017	Vice President and Controller	2019	Senior Managing Director, Head of Fund Administration at Nuveen, LLC (since 2019), formerly, Managing Director; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the Treasurer (since 2017) to the CREF Accounts; Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various positions with TIAA since 2006.
Gifford R. Zimmerman 1956 333 W. Wacker Drive Chicago, IL 60606	Vice President and Assistant Secretary	1988	Managing Director (since 2002), and Assistant Secretary of Nuveen Securities, LLC; Managing Director (since 2004) and Assistant Secretary (since 1994) of Nuveen Investments, Inc.; Managing Director (since 2002), Assistant Secretary (since 1997) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, LLC; Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2011); Vice President (since 2017), formerly, Managing Director (2003-2017) and Assistant Secretary (since 2003) of Symphony Asset Management LLC ; Managing Director and Assistant Secretary (since 2002) of Nuveen Investments Advisers, LLC; Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (since 2002), Santa Barbara Asset Management, LLC (since 2006) and of Winslow Capital Management, LLC, (since 2010); Chartered Financial Analyst.

(1) Trustees serve an indefinite term until his/her successor is elected or appointed. The year first elected or appointed represents the year in which the director was first elected or appointed to any fund in the Nuveen Fund Complex.

(2) On May 25, 2017, Mr. Young was appointed as a Board Member, effective July 1, 2017. He is a Board Member of each of the Nuveen Funds, except Nuveen Diversified Dividend and Income Fund and Nuveen Real Estate Income Fund.

(3) “Interested person” of the Trust, as defined in the 1940 Act, by reason of her position with Nuveen, LLC. and certain of its subsidiaries.

(4) Officers serve one year terms through August of each year. The year first elected or appointed represents the year in which the officer was first elected or appointed to any fund in the Nuveen Fund Complex.

248

Notes

249

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250

Notes

251

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 manager 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/mutual-funds

Nuveen Securities, LLC, member FINRA and SIPC  | 
333 West Wacker Drive  | Chicago, IL 60606  | www.nuveen.com MAN-NAT-0319D        838669-INV-Y-05/20

ITEM 2. CODE OF ETHICS.

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx. (To view the code, click on Code of Conduct.)

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Carole E. Stone, Jack B. Evans and William C. Hunter, who are “independent” for purposes of Item 3 of Form N-CSR.

Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State’s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State’s bond-related disclosure documents and certifying that they fairly presented the State’s financial position; reviewing audits of various State and local agencies and programs; and coordinating the State’s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone’s position on the boards of these entities and as a member of both CBOE Holdings’ Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.

Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser (“SCI”). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the “CFO”) and actively supervised the CFO’s preparation of financial statements and other filings with various regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI’s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.

Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter’s responsibilities include, among other things, reviewing financial statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of finance, accounting and economics.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

The following tables show the amount of fees that PricewaterhouseCoopers LLP, the Funds’ auditor, billed to the Funds during the Funds’ last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PricewaterhouseCoopers LLP, provided to the Funds, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the “pre-approval exception”). The preapproval exception for services provided directly to the Funds waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Funds during the fiscal year in which the services are provided; (B) the Funds did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee’s attention, and the Committee (or its delegate) approves the services before the audit is completed.

The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee).

Fiscal Year Ended March 31, 2019	Audit Fees Billed to Funds 1		Audit-Related Fees Billed to Funds 2		Tax Fees Billed to Funds 3		All Other Fees Billed to Funds 4
Fund Name
Nuveen Short Term Municipal Bond Fund		21,030		0		0		0
Total	$	21,030	$	0	$	0	$	0

¹   “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds
Fund Name
Nuveen Short Term Municipal Bond Fund		0	%		0	%		0	%		0	%
Fiscal Year Ended March 31, 2018	Audit Fees Billed to Funds 1			Audit-Related Fees Billed to Funds 2			Tax Fees Billed to Funds 3			All Other Fees Billed to Funds 4
Fund Name
Nuveen Short Term Municipal Bond Fund		20,922			1,313			0			0
Total	$	20,922		$	1,313		$	0		$	0

¹   “Audit Fees” are the aggregate fees billed for professional services for the audit of the Fund’s annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

²  “Audit-Related Fees” are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under “Audit Fees”. These fees include offerings related to the Fund’s common shares and leverage.

³  “Tax Fees” are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the principal accountant.

⁴  “All Other Fees” are the aggregate fees billed for products and services other than “Audit Fees”, “Audit-Related Fees” and “Tax Fees”. These fees represent all “Agreed-Upon Procedures” engagements pertaining to the Fund’s use of leverage.

	Percentage Approved Pursuant to Pre-approval Exception
	Audit Fees Billed to Funds			Audit-Related Fees Billed to Funds			Tax Fees Billed to Funds			All Other Fees Billed to Funds
Fund Name
Nuveen Short Term Municipal Bond Fund		0	%		0	%		0	%		0	%

Fiscal Year Ended March 31, 2019	Audit-Related Fees Billed to Adviser  and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%		0	%
Fiscal Year Ended March 31, 2018	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
Nuveen Investment Funds, Inc.	$	0		$	0		$	0
	Percentage Approved Pursuant to Pre-approval Exception
	Audit-Related Fees Billed to Adviser and Affiliated Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
		0	%		0	%		0	%

Fiscal Year Ended March 31, 2019	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)		Total
Fund Name
Nuveen Short Term Municipal Bond Fund		0		0		0		0
Total	$	0	$	0	$	0	$	0

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Less than 50 percent of the hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

Fiscal Year Ended March 31, 2018	Total Non-Audit Fees Billed to Trust		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Trust)		Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements)		Total
Fund Name
Nuveen Short Term Municipal Bond Fund		1,313		0		0		1,313
Total	$	1,313	$	0	$	0	$	1,313

“Non-Audit Fees billed to Fund” for both fiscal year ends represent “Tax Fees” and “All Other Fees” billed to Fund in their respective amounts from the previous table.

Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Funds by the Funds’ independent accountant and (ii) all audit and non-audit services to be performed by the Funds’ independent accountant for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Funds. Regarding tax and research projects conducted by the independent accountant for the Funds and Affiliated Fund Service Providers (with respect to operations and financial reports of the Trust), such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chairman for his verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.

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 of Trustees 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 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. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. 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 because the code is posted on registrant’s website at www.nuveen.com/MutualFunds/ShareholderResources/FundGovernance.aspx and there were no amendments during the period covered by this report. (To view the code, click on Code of Conduct.)
(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.
(a)(4)	Change in the registrant’s independent public accountant. Not applicable.
(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/ Christopher M. Rohrbacher
	Christopher M. Rohrbacher
	Vice President and Secretary

Date: June 6, 2019

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: June 6, 2019

By (Signature and Title)	/s/ E. Scott Wickerham
	E. Scott Wickerham
	Vice President and Controller
	(principal financial officer)

Date: June 6, 2019