Investment Company Act file number | 811-06548 |
Registrant’s telephone number, including area code: | (312) 917-7700 |
Date of fiscal year end: | March 31 |
Date of reporting period: | March 31, 2024 |
ITEM 1. | REPORTS TO STOCKHOLDERS. |
![]() |
Closed-End Funds |
March 31, 2024 |
Nuveen Select Maturities Municipal Fund |
NIM |
|||
Nuveen Select Tax-Free Income Portfolio |
NXP |
|||
3 | ||||
4 | ||||
7 | ||||
9 | ||||
10 | ||||
14 | ||||
15 | ||||
53 | ||||
54 | ||||
55 | ||||
56 | ||||
58 | ||||
68 | ||||
87 | ||||
88 | ||||
89 | ||||
91 |
Per Common Share Amounts |
||||||||
Monthly Distributions (Ex-Dividend Date) |
NIM |
NXP |
||||||
April |
$0.0260 | $0.0485 | ||||||
May |
0.0260 | 0.0485 | ||||||
June |
0.0260 | 0.0485 | ||||||
July |
0.0260 | 0.0485 | ||||||
August |
0.0260 | 0.0485 | ||||||
September |
0.0260 | 0.0485 | ||||||
October |
0.0260 | 0.0485 | ||||||
November |
0.0260 | 0.0485 | ||||||
December |
0.0260 | 0.0485 | ||||||
January |
0.0260 | 0.0485 | ||||||
February |
0.0260 | 0.0485 | ||||||
March |
0.0260 | 0.0485 | ||||||
Total Distributions from Net Investment Income |
$0.3120 | $0.5820 | ||||||
Yields |
NIM |
NXP |
||||||
Market Yield 1 |
3.47% | 4.03% | ||||||
Taxable-Equivalent Yield 1 |
5.86% | 6.81% | ||||||
1 |
Market Yield is based on the Fund’s current annualized monthly distribution divided by the Fund’s current market price as of the end of the reporting period. 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. It is based on a combined federal and state income tax rate of 40.8%. Your actual combined federal and state income tax rate may differ from the assumed rate. The 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 either exempt from federal income tax but not from state income tax (e.g., income from an out-of-state municipal bond), or was exempt from neither federal nor state 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. |
NXP* |
||||
Maximum aggregate offering |
14,000,000 | |||
* | Represents additional shares for the period July 5, 2023 through March 31, 2024. |
NXP |
||||
Common shares sold through shelf offering |
1,101,796 | |||
Weighted average premium to NAV per common share sold |
0.56% | |||
NIM |
NXP |
|||||||||||
Common shares cumulatively repurchased and retired |
0 | 0 | ||||||||||
Common shares authorized for repurchase |
1,240,000 | 4,785,000 | ||||||||||
NIM |
NXP |
|||||||||||
Common share NAV |
$10.04 | $14.65 | ||||||||||
Common share price |
$8.99 | $14.44 | ||||||||||
Premium/(Discount) to NAV |
(10.46)% | (1.43)% | ||||||||||
Average premium/(discount) to NAV |
(9.77)% | (0.50)% | ||||||||||
NIM |
Nuveen Select Maturities Municipal Fund Performance Overview and Holding Summaries March 31, 2024 |
Total Returns as of March 31, 2024 |
||||||||||||||||||||||||||||
Average Annual |
||||||||||||||||||||||||||||
Inception Date |
1-Year |
5-Year |
10-Year |
|||||||||||||||||||||||||
NIM at Common Share NAV |
9/18/92 | 3.61% | 1.96% | 2.72% | ||||||||||||||||||||||||
NIM at Common Share Price |
9/18/92 | 0.85% | 1.06% | 1.91% | ||||||||||||||||||||||||
S&P Municipal Bond Intermediate Index |
— | 2.56% | 1.65% | 2.50% | ||||||||||||||||||||||||
* | For purposes of Fund performance, relative results are measured against the S&P Municipal Bond Intermediate Index. |
Fund Allocation (% of net assets) |
||||
Municipal Bonds |
95.1% | |||
Common Stocks |
3.3% | |||
Asset-Backed and Mortgage-Backed Securities |
0.4% | |||
Short-Term Municipal Bonds |
3.5% | |||
Other Assets & Liabilities, Net |
(2.3)% | |||
Net Assets |
100% |
|||
Bond Credit Quality (% of total investment exposure) |
||||
U.S. Guaranteed |
3.6% | |||
AAA |
10.5% | |||
AA |
32.1% | |||
A |
23.2% | |||
BBB |
10.9% | |||
BB or Lower |
7.2% | |||
N/R (not rated) |
9.2% | |||
N/A (not applicable) |
3.3% | |||
Total |
100% |
|||
Portfolio Composition (% of total investments) |
||||
Tax Obligation/General |
16.6% | |||
Transportation |
15.8% | |||
Utilities |
14.0% | |||
Housing/Single Family |
11.5% | |||
Tax Obligation/Limited |
10.9% | |||
Health Care |
10.8% | |||
U.S. Guaranteed |
3.6% | |||
Other |
13.2% | |||
Common Stocks |
3.2% | |||
Asset-Backed and Mortgage-Backed Securities |
0.4% | |||
Total |
100% |
|||
States and Territories 1 (% of total municipal bonds) |
||||
Illinois |
8.6% | |||
California |
8.5% | |||
Texas |
7.0% | |||
New York |
6.4% | |||
Ohio |
6.1% | |||
Wisconsin |
4.5% | |||
New Jersey |
4.2% | |||
Pennsylvania |
3.7% | |||
Colorado |
3.7% | |||
Florida |
3.5% | |||
Louisiana |
3.1% | |||
Puerto Rico |
2.8% | |||
Washington |
2.3% | |||
Oklahoma |
2.2% | |||
Michigan |
2.1% | |||
Tennessee |
2.1% | |||
North Carolina |
2.0% | |||
Georgia |
1.8% | |||
Indiana |
1.8% | |||
Alabama |
1.4% | |||
Nebraska |
1.3% | |||
Kentucky |
1.3% | |||
Arizona |
1.3% | |||
District of Columbia |
1.3% | |||
Connecticut |
1.3% | |||
Other |
15.7% | |||
Total |
100% |
|||
1 | See the Portfolio of Investments for the remaining states comprising “Other” and not listed in the table above. |
NXP |
Nuveen Select Tax-Free Income Portfolio | |
Performance Overview and Holding Summaries March 31, 2024 |
Total Returns as of March 31, 2024 |
||||||||||||||||
Average Annual |
||||||||||||||||
Inception Date |
1-Year |
5-Year |
10-Year |
|||||||||||||
NXP at Common Share NAV |
3/19/92 | 4.70% | 2.49% | 3.89% | ||||||||||||
NXP at Common Share Price |
3/19/92 | 5.11% | 3.45% | 4.60% | ||||||||||||
S&P Municipal Bond Index |
– | 3.34% | 1.66% | 2.69% | ||||||||||||
* | For purposes of Fund performance, relative results are measured against the S&P Municipal Bond Index. |
Fund Allocation (% of net assets) |
||||
Municipal Bonds |
98.6% | |||
Common Stocks |
0.9% | |||
Other Assets & Liabilities, Net |
0.5% | |||
Net Assets |
100% |
|||
Bond Credit Quality (% of total investment exposure) |
||||
U.S. Guaranteed |
4.6% | |||
AAA |
7.2% | |||
AA |
44.2% | |||
A |
28.7% | |||
BBB |
6.5% | |||
BB or Lower |
2.7% | |||
N/R (not rated) |
5.2% | |||
N/A (not applicable) |
0.9% | |||
Total |
100% |
|||
Portfolio Composition (% of total investments) |
||||
Tax Obligation/Limited |
27.8% | |||
Tax Obligation/General |
20.2% | |||
Transportation |
19.5% | |||
Health Care |
9.9% | |||
Education and Civic Organizations | 8.4% | |||
Utilities |
7.3% | |||
U.S. Guaranteed |
4.6% | |||
Other |
1.4% | |||
Common Stocks |
0.9% | |||
Total |
100% |
|||
States and Territories 1 (% of total municipal bonds) |
||||
California |
17.2% | |||
Colorado |
8.8% | |||
Illinois |
8.5% | |||
Texas |
8.1% | |||
New Jersey |
5.5% | |||
Washington |
5.2% | |||
Massachusetts |
4.6% | |||
Idaho |
3.9% | |||
New York |
3.8% | |||
Arizona |
3.0% | |||
Florida |
3.0% | |||
Oregon |
2.7% | |||
Connecticut |
2.7% | |||
Missouri |
2.7% | |||
Puerto Rico |
2.5% | |||
Michigan |
1.6% | |||
Guam |
1.5% | |||
District of Columbia |
1.5% | |||
Indiana |
1.4% | |||
Nebraska |
1.3% | |||
Other |
10.5% | |||
Total |
100% |
|||
1 | See the Portfolio of Investments for the remaining states comprising “Other” and not listed in the table above. |
NIM |
Nuveen Select Maturities Municipal Fund | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
LONG-TERM INVESTMENTS - 98.8% |
||||||||||||
MUNICIPAL BONDS - 95.1% |
||||||||||||
Alabama - 1.4% |
||||||||||||
$ | 215 | Alabama Public School and College Authority, Capital Improvement Pool Revenue Bonds, Refunding Series 2020A, 5.000%, 11/01/27 | No Opt. Call | $ | 231,102 | |||||||
80 | Birmingham-Jefferson Civic Center Authority, Alabama, Special Tax Bonds, Series 2018A, 4.000%, 7/01/37 | 7/28 at 100.00 | 80,517 | |||||||||
200 | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2023C, 5.500%, 10/01/54, (Mandatory Put 6/01/32) | 3/32 at 100.12 | 219,107 | |||||||||
345 | Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2021A, 4.000%, 6/01/51, (Mandatory Put 12/01/31) | 9/31 at 100.53 | 347,983 | |||||||||
100 | Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2022 Sub D-1, 4.000%, 7/01/52, (Mandatory Put 6/01/27) | 3/27 at 100.17 | 101,124 | |||||||||
125 | Lower Alabama Gas District, Alabama, Goldman Sachs Gas Project 2 Revenue Bonds, Series 2020A, 4.000%, 12/01/50, (Mandatory Put 12/01/25) | 9/25 at 100.58 | 125,488 | |||||||||
65 | 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 | 62,351 | |||||||||
135 | Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Refunding Series 2020A, 1.375%, 5/01/34, (Mandatory Put 6/16/25) | No Opt. Call | 130,882 | |||||||||
200 | Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Refunding Series 2024A, 5.000%, 8/01/54, (Mandatory Put 4/01/32) | 1/32 at 100.22 | 213,970 | |||||||||
Tuscaloosa County Industrial Development Authority, Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project, Refunding Series 2019A: | ||||||||||||
105 | 4.500%, 5/01/32, 144A | 5/29 at 100.00 | 105,487 | |||||||||
150 | 5.250%, 5/01/44, 144A | 5/29 at 100.00 | 151,457 | |||||||||
Total Alabama | 1,769,468 | |||||||||||
Alaska - 0.4% |
||||||||||||
420 | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2020A-II, 2.000%, 12/01/35 | 6/29 at 100.00 | 337,865 | |||||||||
100 | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2022A-II, 2.350%, 12/01/39 | 12/30 at 100.00 | 77,787 | |||||||||
150 | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, Series 2022B-1, 2.150%, 6/01/36 | 12/30 at 100.00 | 123,479 | |||||||||
110 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2021B-2 Class 2, 0.000%, 6/01/66 | 6/31 at 30.73 | 14,705 | |||||||||
Total Alaska | 553,836 | |||||||||||
Arizona - 1.3% |
||||||||||||
145 | (c) | Arizona State, Certificates of Participation, Refunding Series 2019A, 5.000%, 10/01/27, (ETM) | No Opt. Call | 155,672 | ||||||||
175 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, 5.000%, 6/01/49, (AMT), (Mandatory Put 6/03/24) | 6/24 at 100.00 | 175,191 | |||||||||
250 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2022-2, 5.000%, 9/01/52, (AMT), (Mandatory Put 9/01/27) | 3/27 at 100.00 | 257,681 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Arizona |
||||||||||||
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007: | ||||||||||||
$ | 235 | 5.000%, 12/01/32 | No Opt. Call | $ | 250,955 | |||||||
730 | 5.000%, 12/01/37 | No Opt. Call | 795,190 | |||||||||
Total Arizona | 1,634,689 | |||||||||||
Arkansas - 0.3% |
||||||||||||
100 | Arkansas Development Finance Authority, Arkansas, Environmental Improvement Revenue Bonds, United States Steel Corporation, Green Series 2022, 5.450%, 9/01/52, (AMT), 144A | 9/25 at 105.00 | 102,218 | |||||||||
265 | Arkansas Development Finance Authority, Revenue Bonds, Baptist Memorial Health Care, Refunding Series 2020B-2, 5.000%, 9/01/44, (Mandatory Put 9/01/27) | 3/27 at 100.00 | 278,771 | |||||||||
Total Arkansas | 380,989 | |||||||||||
California - 8.3% |
||||||||||||
100 | 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 | 97,620 | |||||||||
100 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023C, 5.250%, 1/01/54, (Mandatory Put 10/01/31) | 10/30 at 100.65 | 105,435 | |||||||||
100 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023F, 5.500%, 10/01/54, (Mandatory Put 11/01/30) | 8/30 at 100.12 | 110,312 | |||||||||
200 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 5.000%, 6/01/30 | No Opt. Call | 221,330 | |||||||||
395 | California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 2017, 3.750%, 2/01/32 | 2/27 at 100.00 | 403,944 | |||||||||
55 | California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Term Rate Series 2019C, 5.000%, 10/01/39, (Mandatory Put 10/01/25) | 10/25 at 100.00 | 55,741 | |||||||||
96 | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2021-3, 3.250%, 8/20/36 | No Opt. Call | 88,939 | |||||||||
175 | California Infrastructure and Economic Development Bank, Revenue Bonds, Brightline West Passenger Rail Project, Series 2020A, 3.950%, 1/01/50, (AMT), (Mandatory Put 1/30/25) | 4/24 at 100.00 | 174,569 | |||||||||
205 | California Infrastructure and Economic Development Bank, Revenue Bonds, California Academy of Sciences, San Francisco, Series 2024A, 3.250%, 8/01/29 | 8/28 at 100.00 | 205,815 | |||||||||
275 | California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A, 5.000%, 7/01/31, 144A | 7/26 at 100.00 | 279,122 | |||||||||
1,040 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 3.250%, 12/31/32 - AGM Insured, (AMT) | 6/28 at 100.00 | 987,898 | |||||||||
150 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2015A-2, 3.625%, 7/01/27, (AMT) | 7/25 at 100.00 | 149,425 | |||||||||
290 | 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 | 289,410 | |||||||||
205 | 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 | 203,309 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
California |
||||||||||||
$ | 150 | 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 | $ | 151,627 | |||||||
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A: | ||||||||||||
710 | 5.000%, 12/01/27, 144A | No Opt. Call | 732,297 | |||||||||
30 | 5.000%, 12/01/33, 144A | 6/28 at 100.00 | 31,209 | |||||||||
175 | California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2009C-3, 5.000%, 4/01/45, (Mandatory Put 11/01/29) | No Opt. Call | 194,667 | |||||||||
270 | California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Variable Rate Demand Obligation Series 2003D, 5.000%, 5/01/33, (Mandatory Put 11/01/29) | No Opt. Call | 300,344 | |||||||||
100 | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Senior Lien Series 2021A-1, 3.000%, 7/01/43, 144A | 7/32 at 100.00 | 78,617 | |||||||||
200 | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Series 2021A-1, 2.650%, 12/01/46, 144A | 12/31 at 100.00 | 157,203 | |||||||||
870 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Series 2021B-2, 0.000%, 6/01/66 | 12/31 at 27.75 | 98,658 | |||||||||
70 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1, 5.000%, 6/01/51 | 12/31 at 100.00 | 73,399 | |||||||||
100 | Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C, 5.000%, 9/01/32 | 9/24 at 100.00 | 100,676 | |||||||||
55 | Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 90-2, Series 2007A, 4.500%, 10/01/24 - AGM Insured | 4/24 at 100.00 | 55,018 | |||||||||
1,070 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 5.875%, 8/01/28 | 2/28 at 100.00 | 1,201,858 | |||||||||
2,000 | Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/25 - AGC Insured | No Opt. Call | 1,908,659 | |||||||||
2,000 | San Diego Community College District, California, General Obligation Bonds, Refunding Series 2011, 0.000%, 8/01/37 | No Opt. Call | 1,280,343 | |||||||||
415 | (c) | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 1/15/29, (Pre-refunded 1/15/25) |
1/25 at 100.00 | 420,194 | ||||||||
215 | Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A, 5.000%, 7/01/25 | No Opt. Call | 216,748 | |||||||||
Total California | 10,374,386 | |||||||||||
Colorado - 3.6% |
||||||||||||
750 | Colorado Bridge Enterprise, Revenue Bonds, Central 70 Project, Senior Series 2017, 4.000%, 6/30/30, (AMT) | 12/27 at 100.00 | 750,619 | |||||||||
300 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2, 5.000%, 8/01/36 | 8/29 at 100.00 | 323,465 | |||||||||
600 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-2, 5.000%, 8/01/49, (Mandatory Put 8/01/26) | 2/26 at 100.00 | 614,966 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Colorado |
||||||||||||
$ | 280 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2024A, 5.000%, 12/01/34 | No Opt. Call | $ | 329,085 | |||||||
300 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Series 2016, 3.125%, 9/01/42 | 9/26 at 100.00 | 240,151 | |||||||||
100 | Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2021H, 2.000%, 5/01/42 | 5/30 at 100.00 | 67,485 | |||||||||
70 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, 5.750%, 11/15/34, (AMT) | 11/32 at 100.00 | 83,184 | |||||||||
100 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2023B, 5.000%, 11/15/27, (AMT) | No Opt. Call | 105,569 | |||||||||
100 | Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopment Area, Series 2018A, 5.250%, 12/01/39, 144A | 4/24 at 103.00 | 101,260 | |||||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: | ||||||||||||
355 | 0.000%, 9/01/29 - NPFG Insured | No Opt. Call | 297,498 | |||||||||
380 | 0.000%, 9/01/33 - NPFG Insured | No Opt. Call | 274,942 | |||||||||
500 | Falcon Area Water and Wastewater Authority (El Paso County, Colorado), Tap Fee Revenue Bonds, Series 2022A, 6.750%, 12/01/34, 144A | 9/27 at 103.00 | 502,268 | |||||||||
Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A: | ||||||||||||
100 | 5.000%, 1/15/31 | No Opt. Call | 110,633 | |||||||||
100 | 4.000%, 7/15/40 | No Opt. Call | 99,223 | |||||||||
100 | Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 2017A-1, 3.500%, 12/01/27 | No Opt. Call | 95,911 | |||||||||
500 | West Globeville Metropolitan District 1, Denver, Colorado, General Obligation Limited Tax Bonds, Series 2022, 6.250%, 12/01/32 | 12/29 at 103.00 | 499,665 | |||||||||
Total Colorado | 4,495,924 | |||||||||||
Connecticut - 1.3% |
||||||||||||
320 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare Issue, Series 2020A, 4.000%, 7/01/36 | 1/30 at 100.00 | 322,821 | |||||||||
50 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1, 4.000%, 7/01/28 | No Opt. Call | 50,882 | |||||||||
180 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2016A-2, 2.000%, 7/01/42, (Mandatory Put 7/01/26) | No Opt. Call | 173,464 | |||||||||
160 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2014D, 1.800%, 7/01/49, (Mandatory Put 7/01/24) | 4/24 at 100.00 | 158,799 | |||||||||
80 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020E-3, 1.850%, 5/15/38 | 5/30 at 100.00 | 57,726 | |||||||||
450 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2022C-1, 4.250%, 11/15/37 | 11/31 at 100.00 | 458,441 | |||||||||
335 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2023B, 4.200%, 11/15/38 | 5/32 at 100.00 | 338,537 | |||||||||
Total Connecticut | 1,560,670 | |||||||||||
Delaware - 0.2% |
||||||||||||
210 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, NRG Energy Project, Refunding Series 2020A, 1.250%, 10/01/45, (Mandatory Put 10/01/25) | 10/25 at 100.00 | 197,472 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Delaware |
||||||||||||
$ | 100 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024A, 4.450%, 7/01/44 | 1/33 at 100.00 | $ | 100,234 | |||||||
Total Delaware | 297,706 | |||||||||||
District of Columbia - 1.3% |
||||||||||||
110 | District of Columbia Student Dormitory Revenue Bonds, Provident Group - Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/30 | 4/24 at 100.00 | 110,005 | |||||||||
300 | District of Columbia, Income Tax Secured Revenue Bonds, Refunding Series 2023C, 5.000%, 10/01/32 | No Opt. Call | 355,303 | |||||||||
515 | Metropolitan Washington Airports Authority, D.C, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding Second Senior Lien Series 2022A, 4.000%, 10/01/52 - AGM Insured | 10/31 at 100.00 | 491,133 | |||||||||
250 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/34, (AMT) |
10/24 at 100.00 | 251,201 | |||||||||
330 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, 5.000%, 10/01/34, (AMT) | 10/32 at 100.00 | 370,921 | |||||||||
Total District of Columbia | 1,578,563 | |||||||||||
Florida - 3.4% |
||||||||||||
175 | Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017, 3.000%, 9/01/28 - AGM Insured | No Opt. Call | 173,960 | |||||||||
395 | (c) | Citizens Property Insurance Corporation, Florida, Coastal Account Senior Secured Bonds, Series 2015A-1, 5.000%, 6/01/25, (Pre-refunded 12/01/24) | 12/24 at 100.00 | 398,298 | ||||||||
300 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project, Green Series 2019B, 7.375%, 1/01/49, (AMT), 144A | 4/24 at 107.00 | 313,130 | |||||||||
350 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project, Series 2019A-2, 6.250%, 1/01/49, (AMT), (Mandatory Put 12/18/24), 144A | 4/24 at 100.00 | 350,082 | |||||||||
Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Virgin Trains USA Passenger Rail Project, Series 2019A: | ||||||||||||
665 | 6.375%, 1/01/49, (AMT), (Mandatory Put 1/01/26), 144A | 4/24 at 101.00 | 665,229 | |||||||||
575 | 6.500%, 1/01/49, (AMT), (Mandatory Put 1/01/29), 144A | 4/24 at 101.00 | 575,300 | |||||||||
250 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2023A, 7.500%, 7/01/57, (AMT), (Mandatory Put 8/15/24) | 4/24 at 104.00 | 248,608 | |||||||||
580 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2023C, 8.250%, 7/01/57, (AMT), (Mandatory Put 8/15/24), 144A | 4/24 at 100.00 | 579,878 | |||||||||
45 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2018-2, 3.750%, 7/01/33 | 1/28 at 100.00 | 44,924 | |||||||||
100 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Social Series 2021-2, 2.050%, 7/01/41 | 7/30 at 100.00 | 69,672 | |||||||||
300 | Fort Lauderdale, Florida, Water and Sewer Revenue Bonds, Refunding Series 2014, 4.000%, 9/01/34 | 9/24 at 100.00 | 298,149 | |||||||||
200 | Hillsborough County, Florida, Solid Waste and Resource Recovery Revenue Bonds, Refunding Series 2016A, 4.000%, 9/01/34 | No Opt. Call | 200,575 | |||||||||
15 | JEA, Florida, Electric System Revenue Bonds, Subordinated Series Three 2020A, 5.000%, 10/01/27 | No Opt. Call | 15,955 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Florida |
||||||||||||
$ | 90 | (c) | Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/31, (Pre-refunded 12/01/24) | 12/24 at 100.00 | $ | 90,722 | ||||||
100 | Pompano Beach, Florida, Revenue Bonds, John Knox Village of Florida Incorporated Project, Series 2021B-1, 2.000%, 1/01/29 | No Opt. Call | 89,975 | |||||||||
260 | Tampa, Florida, Capital Improvement Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Series 2020A, 0.000%, 9/01/34 | 9/30 at 86.77 | 173,182 | |||||||||
Total Florida | 4,287,639 | |||||||||||
Georgia - 1.8% |
||||||||||||
250 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2020A, 2.600%, 12/01/32 | 6/29 at 100.00 | 229,211 | |||||||||
240 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2023A, 4.150%, 12/01/38 | 6/32 at 100.00 | 241,481 | |||||||||
1,000 | Georgia State, General Obligation Bonds, Series 2021A, 5.000%, 7/01/27 | No Opt. Call | 1,069,497 | |||||||||
265 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2019B, 4.000%, 8/01/49, (Mandatory Put 12/02/24) | 9/24 at 100.43 | 265,359 | |||||||||
100 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2021A, 4.000%, 7/01/52, (Mandatory Put 9/01/27) | 6/27 at 100.65 | 100,825 | |||||||||
200 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022C, 4.000%, 8/01/52, (Mandatory Put 11/01/27), 144A | 5/27 at 100.81 | 194,662 | |||||||||
150 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023E-1, 5.000%, 12/01/53, (Mandatory Put 6/01/31) | 3/31 at 100.08 | 160,321 | |||||||||
Total Georgia | 2,261,356 | |||||||||||
Hawaii - 1.1% |
||||||||||||
200 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.250%, 7/01/27, 144A | 4/24 at 100.00 | 200,131 | |||||||||
870 | 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 | 691,752 | |||||||||
20 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A, 5.000%, 7/01/29 | 7/25 at 100.00 | 20,387 | |||||||||
480 | 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 | 415,962 | |||||||||
Total Hawaii | 1,328,232 | |||||||||||
Idaho - 0.6% |
||||||||||||
100 | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2024A, 4.450%, 1/01/44 | 1/33 at 100.00 | 99,802 | |||||||||
475 | Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, Refunding Series 2016, 2.750%, 10/01/24 | No Opt. Call | 470,933 | |||||||||
170 | Spring Valley Community Infrastructure District 1, Eagle, Idaho, Special Assessment Bonds, Series 2021, 3.750%, 9/01/51, 144A | 12/26 at 103.00 | 133,009 | |||||||||
Total Idaho | 703,744 | |||||||||||
Illinois - 8.4% |
||||||||||||
Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016: | ||||||||||||
25 | 2.700%, 3/01/26 - BAM Insured | 3/25 at 100.00 | 24,504 | |||||||||
25 | 2.900%, 3/01/28 - BAM Insured | 3/25 at 100.00 | 24,413 | |||||||||
65 | 3.050%, 3/01/30 - BAM Insured | 3/25 at 100.00 | 64,436 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Illinois |
||||||||||||
Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016: | ||||||||||||
$ | 25 | 2.700%, 3/01/26 - BAM Insured | 3/25 at 100.00 | $ | 24,504 | |||||||
35 | 2.900%, 3/01/28 - BAM Insured | 3/25 at 100.00 | 34,177 | |||||||||
40 | 3.050%, 3/01/30 - BAM Insured | 3/25 at 100.00 | 39,653 | |||||||||
1,215 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46 | 4/27 at 100.00 | 1,273,894 | |||||||||
750 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 6.750%, 12/01/30, 144A | 12/27 at 100.00 | 830,029 | |||||||||
290 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C, 5.000%, 12/01/30 | 12/27 at 100.00 | 299,029 | |||||||||
200 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017D, 5.000%, 12/01/31 | 12/27 at 100.00 | 205,507 | |||||||||
300 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018C, 5.000%, 12/01/24 | No Opt. Call | 301,636 | |||||||||
310 | Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Refunding Senior Lien Series 2015A, 5.000%, 1/01/33 | 1/25 at 100.00 | 312,510 | |||||||||
100 | Chicago, Illinois, General Obligation Bonds, Chicago Works Series 2023A, 5.500%, 1/01/39 | 1/32 at 100.00 | 110,444 | |||||||||
Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C: | ||||||||||||
190 | 5.000%, 1/01/25 | No Opt. Call | 191,759 | |||||||||
180 | 5.000%, 1/01/26 | No Opt. Call | 184,422 | |||||||||
100 | Cook County, Illinois, Sales Tax Revenue Bonds, Series 2021A, 4.000%, 11/15/41 | 11/30 at 100.00 | 98,305 | |||||||||
590 | Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 3.300%, 3/01/28 - BAM Insured | 3/26 at 100.00 | 589,549 | |||||||||
180 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2008A-2, 4.000%, 11/01/30 | No Opt. Call | 182,268 | |||||||||
250 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2008A-1, 4.000%, 11/01/30 | No Opt. Call | 253,614 | |||||||||
560 | (c) | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 4.625%, 9/01/39, (Pre-refunded 9/01/24) | 9/24 at 100.00 | 561,857 | ||||||||
260 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2021B, 5.000%, 8/15/53, (Mandatory Put 8/15/31) | No Opt. Call | 286,302 | |||||||||
280 | Illinois Housing Development Authority, Revenue Bonds, Green Series 2021B, 2.150%, 10/01/41 | 4/30 at 100.00 | 198,624 | |||||||||
Illinois State, General Obligation Bonds, February Series 2014: | ||||||||||||
400 | 5.000%, 2/01/25 | 4/24 at 100.00 | 400,399 | |||||||||
325 | 5.000%, 2/01/26 | 4/24 at 100.00 | 325,337 | |||||||||
Illinois State, General Obligation Bonds, November Series 2017D: | ||||||||||||
210 | 5.000%, 11/01/24 | No Opt. Call | 211,718 | |||||||||
100 | 5.000%, 11/01/28 | 11/27 at 100.00 | 106,045 | |||||||||
400 | Illinois State, General Obligation Bonds, Refunding September Series 2018B, 5.000%, 10/01/32 | 10/28 at 100.00 | 430,871 | |||||||||
610 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A, 5.000%, 12/01/31 | 1/26 at 100.00 | 627,891 | |||||||||
605 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014C, 5.000%, 1/01/36 | 1/25 at 100.00 | 612,450 | |||||||||
North Barrington, Lake County, Illinois, Special Tax Bonds, Special Service Area 19, Refunding Series 2019: | ||||||||||||
365 | 4.000%, 2/01/28 - BAM Insured | No Opt. Call | 379,080 | |||||||||
200 | 4.000%, 2/01/29 - BAM Insured | 2/28 at 100.00 | 207,529 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Illinois |
||||||||||||
$ | 395 | 4.000%, 2/01/30 - BAM Insured | 2/28 at 100.00 | $ | 410,272 | |||||||
290 | (c) | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017, 5.000%, 6/01/25, (ETM) | No Opt. Call | 294,775 | ||||||||
Springfield, Illinois, Electric Revenue Bonds, Refunding Senior Lien Series 2015: | ||||||||||||
255 | 5.000%, 3/01/33 | 3/25 at 100.00 | 257,498 | |||||||||
160 | 5.000%, 3/01/34 - AGM Insured | 3/25 at 100.00 | 161,539 | |||||||||
Total Illinois | 10,516,840 | |||||||||||
Indiana - 1.8% |
||||||||||||
170 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Earlham College, Refunding Series 2013A, 5.000%, 10/01/32 | 4/24 at 100.00 | 170,055 | |||||||||
100 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power & Light Company Project, Refunding Series 2020A, 0.950%, 12/01/38, (AMT), (Mandatory Put 4/01/26) | No Opt. Call | 92,752 | |||||||||
590 | Indiana Finance Authority, Environmental Revenue Bonds, Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1, 4.500%, 5/01/35, (AMT), (Mandatory Put 6/01/32) | 6/27 at 100.00 | 595,129 | |||||||||
80 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/24 | No Opt. Call | 80,516 | |||||||||
30 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Series 2021A, 2.050%, 7/01/41 | 7/30 at 100.00 | 20,902 | |||||||||
350 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social PAC Series 2021B, 2.125%, 7/01/41 | 7/30 at 100.00 | 247,757 | |||||||||
155 | Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A, 5.000%, 10/01/31 | 10/24 at 100.00 | 156,194 | |||||||||
200 | Terre Haute Sanitary District, Indiana, Revenue Bonds, Bond Anticipation Notes Series 2023, 5.250%, 9/28/28 | 7/24 at 100.00 | 200,204 | |||||||||
250 | Vanderburgh County,Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014, 5.000%, 2/01/29 | 8/24 at 100.00 | 251,222 | |||||||||
400 | Whiting, Indiana, Environmental Facilities Refunding Revenue Bonds, BP Products North America Inc. Project, Refunding Series 2019A, 5.000%, 12/01/44, (AMT), (Mandatory Put 6/05/26) | No Opt. Call | 408,650 | |||||||||
Total Indiana | 2,223,381 | |||||||||||
Iowa - 0.2% |
||||||||||||
200 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, 4.000%, 12/01/50, (Mandatory Put 12/01/32) | 12/29 at 103.00 | 208,932 | |||||||||
100 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2021B, 2.200%, 7/01/41 | 7/30 at 100.00 | 71,904 | |||||||||
Total Iowa | 280,836 | |||||||||||
Kansas - 0.1% |
||||||||||||
100 | Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Village East Project Areas 2B 3 and 5, Series 2022, 5.750%, 9/01/39, 144A | 3/29 at 103.00 | 99,013 | |||||||||
Total Kansas | 99,013 | |||||||||||
Kentucky - 1.3% |
||||||||||||
30 | Ashland, Kentucky, Medical Center Revenue Bonds, Ashland Hospital Corporation d/b/a King’s Daughters Medical Center Project, Refunding Series 2019, 4.000%, 2/01/36 | 2/30 at 100.00 | 29,740 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Kentucky |
||||||||||||
$ | 225 | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Series 2008A, 2.000%, 2/01/32, (AMT) | 6/31 at 100.00 | $ | 186,634 | |||||||
290 | Henderson, Kentucky, Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2022B, 3.700%, 1/01/32, (AMT) | No Opt. Call | 284,240 | |||||||||
550 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/31 | 6/27 at 100.00 | 566,291 | |||||||||
100 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2020A, 4.000%, 12/01/50, (Mandatory Put 6/01/26) | 3/26 at 100.63 | 99,824 | |||||||||
500 | Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2016A, 1.300%, 9/01/44, (AMT), (Mandatory Put 9/01/27) | No Opt. Call | 440,756 | |||||||||
25 | Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green- Warren County Community Hospital Corporation, Refunding Series 2021A, 5.000%, 4/01/29 | No Opt. Call | 27,318 | |||||||||
Total Kentucky | 1,634,803 | |||||||||||
Louisiana - 3.1% |
||||||||||||
200 | Calcasieu Parish Memorial Hospital Service District, Louisiana, Revenue Bonds, Lake Charles Memorial Hospital, Refunding Series 2019, 5.000%, 12/01/39 | 12/29 at 100.00 | 194,023 | |||||||||
30 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D, 2.350%, 12/01/41 | 6/30 at 100.00 | 22,286 | |||||||||
485 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2022A, 3.850%, 12/01/37 | 6/31 at 100.00 | 477,665 | |||||||||
100 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A, 4.000%, 12/01/39, (WI/DD) | 6/33 at 100.00 | 98,905 | |||||||||
535 | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Louisiana, LLC Project, Refunding Series 2021B, 2.500%, 4/01/36 | 4/26 at 100.00 | 440,284 | |||||||||
1,000 | 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 | 966,081 | |||||||||
195 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 5.000%, 5/15/30 | 5/27 at 100.00 | 203,832 | |||||||||
310 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016, 5.000%, 5/15/29 | 5/26 at 100.00 | 319,259 | |||||||||
415 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015, 5.000%, 5/15/24 | No Opt. Call | 415,370 | |||||||||
155 | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015, 5.000%, 12/01/25 | No Opt. Call | 159,529 | |||||||||
155 | (c) | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, 5.000%, 6/01/32, (Pre-refunded 6/01/25) | 6/25 at 100.00 | 157,908 | ||||||||
105 | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010B, 6.100%, 12/01/40, (Mandatory Put 6/01/30), 144A | No Opt. Call | 115,367 | |||||||||
100 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017A-3, 2.200%, 6/01/37, (Mandatory Put 7/01/26) | No Opt. Call | 95,441 | |||||||||
165 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B, 4.000%, 12/01/33 - AGM Insured | 12/28 at 100.00 | 168,325 | |||||||||
Total Louisiana | 3,834,275 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Maine - 0.2% |
||||||||||||
$ | 105 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2021A, 2.050%, 11/15/41 | 5/30 at 100.00 | $ | 72,665 | |||||||
100 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2022A, 2.400%, 11/15/41 | 11/30 at 100.00 | 74,710 | |||||||||
55 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2020D, 2.550%, 11/15/40 | 5/29 at 100.00 | 44,326 | |||||||||
140 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021C, 2.150%, 11/15/41 | 11/30 at 100.00 | 99,156 | |||||||||
Total Maine | 290,857 | |||||||||||
Maryland - 1.0% |
||||||||||||
335 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017, 5.000%, 9/01/30 | 9/27 at 100.00 | 334,775 | |||||||||
245 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2019C, 2.700%, 9/01/34 | 3/29 at 100.00 | 218,910 | |||||||||
230 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021A, 1.950%, 9/01/41 | 3/30 at 100.00 | 154,122 | |||||||||
175 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021B, 2.100%, 9/01/41 | 3/30 at 100.00 | 122,959 | |||||||||
400 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021C, 2.450%, 9/01/41 | 9/30 at 100.00 | 302,968 | |||||||||
120 | Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Refunding Series 2024A, 5.000%, 7/01/37 | 7/34 at 100.00 | 139,510 | |||||||||
Total Maryland | 1,273,244 | |||||||||||
Massachusetts - 1.1% |
||||||||||||
200 | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A, 5.000%, 7/01/27 | 7/24 at 100.00 | 195,198 | |||||||||
100 | Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series 2017, 4.000%, 10/01/32, 144A | 4/24 at 104.00 | 99,715 | |||||||||
120 | (c) | Massachusetts Development Finance Agency, Revenue Bonds, Atrius Health Issue, Series 2019A, 5.000%, 6/01/39, (Pre-refunded 6/01/29) | 6/29 at 100.00 | 133,659 | ||||||||
80 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2, 5.000%, 7/01/33 | 7/28 at 100.00 | 85,719 | |||||||||
100 | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, 5.000%, 7/15/36, 144A | 7/30 at 100.00 | 101,571 | |||||||||
50 | Massachusetts Development Finance Agency, Revenue Bonds, Southcoast Health System Obligated Group Issue, Series 2021G, 5.000%, 7/01/35 | 7/31 at 100.00 | 54,411 | |||||||||
115 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2019-214, 2.800%, 12/01/39 | 6/29 at 100.00 | 97,643 | |||||||||
70 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2020-220, 2.125%, 12/01/40 | 6/30 at 100.00 | 50,439 | |||||||||
65 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-221, 2.200%, 12/01/41 | 6/30 at 100.00 | 46,500 | |||||||||
65 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-223, 2.350%, 6/01/39 | 12/30 at 100.00 | 50,835 | |||||||||
Massachusetts State, General Obligation Bonds, Refunding Series 2024B: |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Massachusetts |
||||||||||||
$ | 200 | 5.000%, 11/01/37 | 5/34 at 100.00 | $ | 235,364 | |||||||
200 | 5.000%, 11/01/38 | 5/34 at 100.00 | 233,629 | |||||||||
Total Massachusetts | 1,384,683 | |||||||||||
Michigan - 2.1% |
||||||||||||
180 | Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 7/01/29 - NPFG Insured | No Opt. Call | 187,929 | |||||||||
150 | 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 | 151,405 | |||||||||
555 | Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2022B-MI, 5.000%, 12/01/43, (Mandatory Put 12/01/28) | 6/28 at 100.00 | 591,748 | |||||||||
50 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2018A, 3.800%, 10/01/38 | 10/27 at 100.00 | 48,277 | |||||||||
270 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2021A, 2.250%, 10/01/41 | 10/30 at 100.00 | 195,900 | |||||||||
320 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2019B, 2.700%, 12/01/34 | 12/28 at 100.00 | 285,001 | |||||||||
360 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2020C, 2.600%, 12/01/40 | 6/30 at 100.00 | 289,045 | |||||||||
125 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2021A, 2.150%, 12/01/41 | 12/30 at 100.00 | 88,482 | |||||||||
25 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Graphic Packaging International, LLC Coated Recycled Board Machine Project, Green Series 2021, 4.000%, 10/01/61, (AMT), (Mandatory Put 10/01/26) | No Opt. Call | 24,994 | |||||||||
705 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F, 5.000%, 12/01/33, (AMT) | 12/25 at 100.00 | 717,457 | |||||||||
Total Michigan | 2,580,238 | |||||||||||
Minnesota - 0.8% |
||||||||||||
67 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2017E, 2.850%, 6/01/47 | 7/26 at 100.00 | 58,992 | |||||||||
165 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2013C, 3.900%, 7/01/43 | 4/24 at 100.00 | 157,324 | |||||||||
105 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020E, 2.500%, 7/01/40 | 7/29 at 100.00 | 84,109 | |||||||||
70 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020I, 2.000%, 7/01/40 | 1/30 at 100.00 | 49,447 | |||||||||
100 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021D, 2.200%, 7/01/41 | 7/30 at 100.00 | 71,904 | |||||||||
115 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021H, 2.350%, 7/01/41 | 1/31 at 100.00 | 85,809 | |||||||||
325 | Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds, Series 2022A, 4.000%, 12/01/52, (Mandatory Put 12/01/27) | 9/27 at 100.37 | 327,860 | |||||||||
175 | White Bear Lake Independent School District 624, Ramsey County, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2021A, 2.000%, 2/01/28 | 2/27 at 100.00 | 162,080 | |||||||||
Total Minnesota | 997,525 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Mississippi - 0.2% |
||||||||||||
$ | 130 | Mississippi Business Finance Corporation, Pollution Control Revenue, Mississippi Power, Series 2002, 3.200%, 9/01/28 | 4/24 at 100.00 | $ | 128,915 | |||||||
100 | Mississippi Business Finance Corporation, Revenue Bonds, System Energy Resources, Inc. Project, Refunding Series 2021, 2.375%, 6/01/44 | 6/26 at 100.00 | 62,884 | |||||||||
30 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2021A, 2.000%, 12/01/40 |
6/30 at 100.00 | 21,065 | |||||||||
Total Mississippi | 212,864 | |||||||||||
Missouri - 0.5% |
||||||||||||
100 | Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson Shoppes Redevelopment Project, Refunding Series 2017A, 4.000%, 11/01/26 | 11/25 at 100.00 | 97,373 | |||||||||
60 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2021B, 2.000%, 11/01/41 | 5/30 at 100.00 | 41,163 | |||||||||
490 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2023B, 4.100%, 11/01/38 | 11/32 at 100.00 | 493,255 | |||||||||
Total Missouri | 631,791 | |||||||||||
Montana - 0.5% |
||||||||||||
260 | Billings, Montana, Tax Increment Urban Renewal Revenue Bonds, Expanded North 27th Street, Series 2013A, 5.000%, 7/01/33 | 4/24 at 100.00 | 260,128 | |||||||||
325 | Forsyth, Montana Pollution Control Revenue Bonds, Portland General Electric Company Project, Refunding Series 1998A, 2.125%, 5/01/33 | 3/30 at 102.00 | 280,666 | |||||||||
25 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2021B, 2.000%, 12/01/41 | 12/30 at 100.00 | 17,131 | |||||||||
Total Montana | 557,925 | |||||||||||
Nebraska - 1.3% |
||||||||||||
190 | Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Refunding Series 2023A-1, 5.000%, 5/01/54, (Mandatory Put 11/01/29) | 8/29 at 100.13 | 201,028 | |||||||||
75 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019D, 2.600%, 9/01/34 | 3/29 at 100.00 | 66,164 | |||||||||
515 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2020A, 2.300%, 9/01/32 | 3/29 at 100.00 | 450,781 | |||||||||
230 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2021C, 2.300%, 9/01/41 | 9/30 at 100.00 | 169,586 | |||||||||
500 | Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Refunding Subordinated Lien Series 2014CC, 4.000%, 2/01/38 | 4/24 at 100.00 | 496,027 | |||||||||
100 | Sarpy County School District 037 Gretna Public Schools, Nebraska, General Obligation Bonds, Series 2022B, 5.000%, 12/15/27 | 12/25 at 100.00 | 102,752 | |||||||||
100 | Sarpy County, Nebraska, Limited Tax Highway Allocation Fund Pledge Bonds, Series 2021, 2.000%, 6/01/27 |
6/26 at 100.00 | 94,479 | |||||||||
140 | Saunders County School District 1, Ashland-Greenwood, Nebraska, General Obligation Bonds, Series 2021, 2.000%, 12/15/50 | 12/30 at 100.00 | 80,650 | |||||||||
Total Nebraska | 1,661,467 | |||||||||||
Nevada - 0.3% |
||||||||||||
200 | (c) | Clark County, Nevada, General Obligation Bonds, Flood Control Series 2014, 4.000%, 11/01/33, (Pre-refunded 11/01/24) | 11/24 at 100.00 | 200,569 | ||||||||
65 | Las Vegas Convention and Visitors Authority, Nevada, Revenue Bonds, Refunding Series 2017B, 4.000%, 7/01/34 | 7/27 at 100.00 | 66,290 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Nevada |
||||||||||||
$ | 100 | Nevada Housing Division, Single Family Housing Mortgage Revenue Bonds, Refunding Series 2021A, 2.200%, 10/01/41 | 10/30 at 100.00 | $ | 71,687 | |||||||
50 | Sparks, Nevada, Sales Tax Revenue Bonds, Tourism Improvement District 1 Legends at Sparks Marina, Refunding Senior Series 2019A, 2.750%, 6/15/28, 144A | No Opt. Call | 48,107 | |||||||||
Total Nevada | 386,653 | |||||||||||
New Hampshire - 1.1% |
||||||||||||
244 | National Finance Authority, New Hampshire, Municipal Certificates Series 2020-1 Class A, 4.125%, 1/20/34 | No Opt. Call | 237,528 | |||||||||
396 | National Finance Authority, New Hampshire, Municipal Certificates Series 2022-1 Class A, 4.375%, 9/20/36 | No Opt. Call | 388,714 | |||||||||
147 | National Finance Authority, New Hampshire, Municipal Certificates Series 2022-2 Class A, 4.000%, 10/20/36 | No Opt. Call | 139,855 | |||||||||
295 | National Finance Authority, New Hampshire, Pollution Control Revenue Bonds, New York State Electric & Gas Corporation Project, Refunding Series 2022A, 4.000%, 12/01/28, (AMT) | No Opt. Call | 295,796 | |||||||||
210 | New Hampshire Business Finance Authority, 4.250%, 7/20/41 | No Opt. Call | 208,521 | |||||||||
125 | (c) | New Hampshire Business Finance Authority, Water Facility Revenue Bonds, Pennichuck Water Works Inc. Project , Series 2015A., 4.250%, 1/01/36, (Pre-refunded 1/01/26), (AMT) |
1/26 at 100.00 | 126,065 | ||||||||
Total New Hampshire | 1,396,479 | |||||||||||
New Jersey - 4.1% |
||||||||||||
70 | (c) | Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24, (AMT), (ETM) | No Opt. Call | 70,023 | ||||||||
220 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.000%, 1/01/28, (AMT) | 4/24 at 100.00 | 220,116 | |||||||||
1,000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/27 | 6/25 at 100.00 | 1,017,831 | |||||||||
200 | New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 5.250%, 9/15/29, (AMT) | 4/24 at 100.50 | 200,446 | |||||||||
250 | New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc. Project, Refunding Series 2019A, 2.200%, 10/01/39, (AMT), (Mandatory Put 12/03/29) | 12/29 at 100.00 | 221,283 | |||||||||
105 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A, 3.750%, 12/01/31, (AMT) | 12/26 at 100.00 | 103,975 | |||||||||
New Jersey State, General Obligation Bonds, Covid-19 Emergency Series 2020A: | ||||||||||||
350 | 5.000%, 6/01/24 | No Opt. Call | 350,588 | |||||||||
500 | 4.000%, 6/01/30 | No Opt. Call | 536,025 | |||||||||
150 | 4.000%, 6/01/31 | No Opt. Call | 162,394 | |||||||||
200 | 4.000%, 6/01/32 | No Opt. Call | 218,475 | |||||||||
1,280 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/33 | No Opt. Call | 926,394 | |||||||||
170 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019AA, 3.750%, 6/15/33 | 12/28 at 100.00 | 170,159 | |||||||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A: | ||||||||||||
210 | 5.000%, 6/01/28 | No Opt. Call | 225,408 | |||||||||
685 | 5.000%, 6/01/29 | 6/28 at 100.00 | 736,278 | |||||||||
Total New Jersey | 5,159,395 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
New Mexico - 0.1% |
||||||||||||
$ | 90 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2019D, 2.800%, 7/01/34 | 1/29 at 100.00 | $ | 79,564 | |||||||
100 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021C, 2.100%, 7/01/41 | 7/30 at 100.00 | 70,416 | |||||||||
Total New Mexico | 149,980 | |||||||||||
New York - 5.0% |
||||||||||||
205 | Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015, 5.000%, 7/01/24 | No Opt. Call | 204,276 | |||||||||
120 | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020B-1, 5.000%, 6/01/40, 144A | 12/30 at 100.00 | 113,130 | |||||||||
200 | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 5.000%, 12/01/28, 144A | 6/27 at 100.00 | 195,639 | |||||||||
750 | Genesee County Funding Corporation, New York, Revenue Bonds, Rochester Regional Health Project, Series 2022A, 5.000%, 12/01/36 | 12/32 at 100.00 | 795,433 | |||||||||
170 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A, 0.000%, 6/01/24 - AGM Insured | No Opt. Call | 168,799 | |||||||||
60 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint Ann’s Community Project, Series 2019, 5.000%, 1/01/40 | 1/26 at 103.00 | 52,657 | |||||||||
60 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Series 2019A-3A, 1.125%, 5/01/60, (Mandatory Put 11/01/24) | 4/24 at 100.00 | 58,819 | |||||||||
New York City Industrial Development Agency, New York, PILOT Payment in Lieu of Taxes Revenue Bonds, Queens Baseball Stadium Project, Refunding Series 2021A: | ||||||||||||
20 | 4.000%, 1/01/32 - AGM Insured | 1/31 at 100.00 | 21,001 | |||||||||
135 | 3.000%, 1/01/33 - AGM Insured | 1/31 at 100.00 | 130,311 | |||||||||
100 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2024 Series BB-2, 5.000%, 6/15/39 | 12/33 at 100.00 | 115,158 | |||||||||
125 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024B, 5.000%, 5/01/38 | 11/33 at 100.00 | 144,220 | |||||||||
275 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024D-1, 5.000%, 11/01/27 | No Opt. Call | 295,692 | |||||||||
350 | New York City, New York, General Obligation Bonds, Fiscal 2021 Series A-1, 5.000%, 8/01/29 | No Opt. Call | 388,118 | |||||||||
100 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2018I, 3.625%, 11/01/33 | 11/27 at 100.00 | 100,367 | |||||||||
255 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Series 2019P, 2.600%, 11/01/34 | 5/28 at 100.00 | 222,587 | |||||||||
240 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2019C, 3.500%, 11/01/34 | 5/28 at 100.00 | 233,552 | |||||||||
330 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Sustainability Series 2023C-2, 3.800%, 11/01/62, (Mandatory Put 5/01/29) | 8/25 at 100.00 | 330,328 | |||||||||
120 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 223, 2.650%, 10/01/34 |
10/28 at 100.00 | 106,426 | |||||||||
100 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 225, 2.300%, 10/01/40 |
10/29 at 100.00 | 75,249 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
New York |
||||||||||||
$ | 75 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 233, 2.200%, 4/01/36 |
4/30 at 100.00 | $ | 62,529 | |||||||
245 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 239, 2.450%, 10/01/41 | 10/30 at 100.00 | 185,419 | |||||||||
245 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 242, 2.950%, 10/01/37 | 4/31 at 100.00 | 214,125 | |||||||||
New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A: | ||||||||||||
100 | 4.000%, 7/01/32, (AMT) | 7/24 at 100.00 | 97,118 | |||||||||
230 | 4.000%, 7/01/33, (AMT) | 7/24 at 100.00 | 222,623 | |||||||||
160 | 5.000%, 7/01/34, (AMT) | 7/24 at 100.00 | 160,192 | |||||||||
620 | 5.000%, 7/01/41, (AMT) | 7/24 at 100.00 | 615,860 | |||||||||
70 | 4.000%, 7/01/46 - AGM Insured, (AMT) | 7/24 at 100.00 | 66,122 | |||||||||
115 | 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%, 8/01/26, (AMT) | 4/24 at 100.00 | 115,033 | |||||||||
500 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, 5.000%, 12/01/29, (AMT) |
No Opt. Call | 539,168 | |||||||||
140 | Westchester County Local Development Corporation, New York, Revenue Bond, Purchase Senior Learning Community, Inc. Project, Accd Inv, Series 2021B-EFRB, 3.600%, 7/01/29 | No Opt. Call | 136,321 | |||||||||
105 | Westchester County Local Development Corporation, New York, Revenue Bond, Purchase Senior Learning Community, Inc. Project, Accd Inv, Series 2021C-EFRB, 3.200%, 7/01/28, 144A | No Opt. Call | 103,312 | |||||||||
Total New York | 6,269,584 | |||||||||||
North Carolina - 2.0% |
||||||||||||
100 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Social Series 53-A, 4.000%, 7/01/39 | 7/32 at 100.00 | 99,406 | |||||||||
85 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2020-43, 2.800%, 1/01/40 | 1/29 at 100.00 | 71,229 | |||||||||
725 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, Social Series 2023-50, 3.950%, 7/01/38 | 1/32 at 100.00 | 722,558 | |||||||||
1,365 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015C, 5.000%, 1/01/29 | 1/26 at 100.00 | 1,405,927 | |||||||||
250 | North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Capital Appreciation Series 2017C, 0.000%, 7/01/27 | 7/26 at 96.08 | 217,832 | |||||||||
Total North Carolina | 2,516,952 | |||||||||||
North Dakota - 1.2% |
||||||||||||
120 | Cass County Joint Water Reserve District, North Dakota, Temporary Improvement Special Assessment Bonds, Refunding Series 2024A, 3.450%, 4/01/27, (WI/DD) | 1/26 at 100.00 | 120,001 | |||||||||
270 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021, 3.000%, 5/01/46 | 5/27 at 100.00 | 186,209 | |||||||||
55 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2019C, 3.200%, 7/01/39 | 7/28 at 100.00 | 49,123 | |||||||||
55 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020A, 2.700%, 7/01/35 | 7/29 at 100.00 | 48,432 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
North Dakota |
||||||||||||
$ | 95 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020B, 2.350%, 7/01/40 | 1/30 at 100.00 | $ | 72,378 | |||||||
100 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2021A, 2.250%, 7/01/41 | 7/30 at 100.00 | 72,648 | |||||||||
675 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Social Series 2022F, 3.950%, 7/01/37 | 1/32 at 100.00 | 678,885 | |||||||||
Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C: | ||||||||||||
200 | 5.000%, 6/01/28 | No Opt. Call | 195,044 | |||||||||
100 | 5.000%, 6/01/43 | 6/28 at 100.00 | 86,682 | |||||||||
Total North Dakota | 1,509,402 | |||||||||||
Ohio - 6.0% |
||||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1: | ||||||||||||
155 | 5.000%, 6/01/27 | No Opt. Call | 162,753 | |||||||||
75 | 5.000%, 6/01/29 | No Opt. Call | 81,190 | |||||||||
230 | 5.000%, 6/01/31 | 6/30 at 100.00 | 252,045 | |||||||||
100 | 5.000%, 6/01/32 | 6/30 at 100.00 | 109,491 | |||||||||
250 | 5.000%, 6/01/34 | 6/30 at 100.00 | 272,790 | |||||||||
365 | 5.000%, 6/01/35 | 6/30 at 100.00 | 397,159 | |||||||||
100 | 4.000%, 6/01/48 | 6/30 at 100.00 | 92,954 | |||||||||
295 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020B-2 Class 2, 5.000%, 6/01/55 |
6/30 at 100.00 | 279,399 | |||||||||
480 | Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013, 5.000%, 6/15/43 | 4/24 at 100.00 | 425,861 | |||||||||
20 | Montgomery County, Ohio, Hospital Facilities Revenue Bonds, Kettering Health Network Obligated Group Project, Refunding & Improvement Series 2021, 3.000%, 8/01/40 | 2/31 at 100.00 | 16,494 | |||||||||
335 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2005A, 2.100%, 1/01/29, (AMT), (Mandatory Put 10/01/24) | No Opt. Call | 328,854 | |||||||||
225 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007A, 2.500%, 8/01/40, (AMT), (Mandatory Put 10/01/29) | No Opt. Call | 198,599 | |||||||||
350 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007B, 2.500%, 11/01/42, (AMT), (Mandatory Put 10/01/29) | No Opt. Call | 308,932 | |||||||||
100 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014B, 2.600%, 6/01/41, (AMT), (Mandatory Put 10/01/29) | 10/24 at 100.00 | 88,787 | |||||||||
100 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014D, 1.900%, 5/01/26, (Mandatory Put 10/01/24) | No Opt. Call | 98,069 | |||||||||
400 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Dayton Power & Light Company Project, Refunding Collateralized Series 2015A, 4.250%, 11/01/40, (AMT), (Mandatory Put 6/01/27) | No Opt. Call | 398,379 | |||||||||
200 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Duke Energy Corporation Project, Refunding Series 2022A, 4.250%, 11/01/39, (AMT), (Mandatory Put 6/01/27) | No Opt. Call | 202,134 | |||||||||
45 | 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 | 44,919 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Ohio |
||||||||||||
$ | 50 | Ohio Higher Educational Facility Commission, Senior Hospital Parking Revenue Bonds, University Circle Incorporated 2020 Project, Series 2020, 5.000%, 1/15/36 | 1/30 at 100.00 | $ | 53,705 | |||||||
100 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2019B, 3.000%, 9/01/39 | 9/28 at 100.00 | 86,634 | |||||||||
100 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2020A, 2.750%, 9/01/40 | 3/29 at 100.00 | 82,672 | |||||||||
25 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2020B, 2.250%, 9/01/40 | 9/29 at 100.00 | 18,529 | |||||||||
100 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A, 4.350%, 9/01/44 | 9/33 at 100.00 | 98,419 | |||||||||
2,520 | Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and Infrastructutre Commission Infrastructure Projects, Junior Lien, Capital Appreciation Series 2013A-3, 5.700%, 2/15/34 | 2/31 at 100.00 | 2,977,065 | |||||||||
90 | Toledo-Lucas County Port Authority, Ohio, Development Revenue Bonds, Northwest Ohio Bond Fund, HB Magruder Memorial Hospital Project, Series 2021F, 2.250%, 11/15/36 | 5/28 at 100.00 | 73,069 | |||||||||
70 | 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 | 70,061 | |||||||||
200 | Washington County, Ohio, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group, Series 2022, 6.375%, 12/01/37 | 12/32 at 100.00 | 216,536 | |||||||||
Total Ohio | 7,435,499 | |||||||||||
Oklahoma - 2.2% |
||||||||||||
75 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Refunding Series 2020, 4.000%, 12/01/28 | No Opt. Call | 78,023 | |||||||||
115 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020, 2.750%, 9/01/31 | 9/30 at 100.00 | 109,065 | |||||||||
800 | Caddo County Governmental Building Authority, Oklahoma, Sales Tax Revenue Bonds, Refunding Series 2018, 3.625%, 9/01/33 | 9/28 at 100.00 | 768,895 | |||||||||
100 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021, 4.000%, 5/01/35 | 5/31 at 100.00 | 105,335 | |||||||||
250 | Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Elgin Public Schools Project, Series 2017A, 5.000%, 12/01/31 | 12/27 at 100.00 | 270,316 | |||||||||
200 | Oklahoma County Independent School District 89 Oklahoma City, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024A, 1.250%, 7/01/26 | No Opt. Call | 188,338 | |||||||||
Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B: | ||||||||||||
230 | 5.000%, 8/15/28 | No Opt. Call | 237,838 | |||||||||
105 | 5.500%, 8/15/52 | 8/28 at 100.00 | 108,321 | |||||||||
95 | 5.500%, 8/15/57 | 8/28 at 100.00 | 97,824 | |||||||||
100 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Taxable Series 2022, 5.500%, 8/15/37 | 8/32 at 100.00 | 105,155 | |||||||||
45 | Oklahoma Housing Finance Agency, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2020A, 2.650%, 9/01/35 | 3/29 at 100.00 | 39,236 | |||||||||
495 | Oklahoma Housing Finance Agency, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2022A, 3.800%, 9/01/37 | 3/31 at 100.00 | 486,437 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Oklahoma |
||||||||||||
$ | 160 | Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019, 5.000%, 3/01/31 | 3/29 at 100.00 | $ | 173,378 | |||||||
Total Oklahoma | 2,768,161 | |||||||||||
Oregon - 1.2% |
||||||||||||
1,325 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Deferred Interest Series 2017B, 0.000%, 6/15/31 | 6/27 at 85.82 | 1,014,866 | |||||||||
335 | Oregon Health and Science University, Revenue Bonds, Green Series 2021B-2, 5.000%, 7/01/46, (Mandatory Put 2/01/32) | 11/31 at 100.00 | 374,922 | |||||||||
95 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2021A, 2.250%, 7/01/41 | 7/30 at 100.00 | 69,015 | |||||||||
Total Oregon | 1,458,803 | |||||||||||
Pennsylvania - 3.6% |
||||||||||||
100 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carnegie Mellon University, Series 2020A, 5.000%, 2/01/30 | No Opt. Call | 112,772 | |||||||||
100 | Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018, 5.000%, 5/01/28, 144A | No Opt. Call | 102,933 | |||||||||
Berks County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Tower Health Project, Series 2017: | ||||||||||||
115 | 5.000%, 11/01/29 | 11/27 at 100.00 | 62,123 | |||||||||
145 | 4.000%, 11/01/32 | 11/27 at 100.00 | 76,488 | |||||||||
125 | 3.750%, 11/01/42 | 11/27 at 100.00 | 65,027 | |||||||||
330 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2020B-3, 5.000%, 2/01/40, (Mandatory Put 2/01/30) | 8/29 at 101.50 | 178,023 | |||||||||
235 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018, 4.000%, 6/01/39 - AGM Insured | 6/28 at 100.00 | 236,405 | |||||||||
375 | Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016A, 3.000%, 9/01/29 | No Opt. Call | 361,803 | |||||||||
225 | Luzerne County Industrial Development Authority, Pennsylvania, Revenue Bonds, Pennsylvania-American Water Company Project, Refunding Series 2019, 2.450%, 12/01/39, (AMT), (Mandatory Put 12/03/29) | 12/29 at 100.00 | 203,997 | |||||||||
230 | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 12/31/25, (AMT) | No Opt. Call | 232,904 | |||||||||
150 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, LaSalle University, Series 2012, 5.000%, 5/01/42 | 4/24 at 100.00 | 123,220 | |||||||||
245 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A, 3.400%, 10/01/32, (AMT) | 4/27 at 100.00 | 232,941 | |||||||||
25 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128A, 3.650%, 10/01/32, (AMT) | 10/27 at 100.00 | 24,127 | |||||||||
170 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-129, 2.950%, 10/01/34 | 10/28 at 100.00 | 158,972 | |||||||||
150 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2020-132A, 2.300%, 10/01/35 | 10/29 at 100.00 | 123,947 | |||||||||
200 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2020-133, 2.350%, 10/01/40 | 10/29 at 100.00 | 151,967 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Pennsylvania |
||||||||||||
$ | 200 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2022-139A, 4.000%, 10/01/37 | 4/32 at 100.00 | $ | 198,565 | |||||||
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2: | ||||||||||||
440 | 5.000%, 6/01/29 | 6/26 at 100.00 | 457,244 | |||||||||
860 | 5.000%, 6/01/35 | 6/26 at 100.00 | 891,288 | |||||||||
400 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 2017, 5.000%, 12/01/32 | 12/27 at 100.00 | 425,707 | |||||||||
75 | Scranton, Lackawanna County, Pennsylvania, General Obligation Notes, Series 2016, 5.000%, 11/15/26 |
5/24 at 100.00 | 75,094 | |||||||||
30 | Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, Marywood University, Series 2016, 3.375%, 6/01/26 | No Opt. Call | 28,844 | |||||||||
Total Pennsylvania | 4,524,391 | |||||||||||
Puerto Rico - 2.8% |
||||||||||||
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A: | ||||||||||||
250 | 5.000%, 7/01/30, 144A | No Opt. Call | 266,386 | |||||||||
260 | 5.000%, 7/01/35, 144A | 7/30 at 100.00 | 274,673 | |||||||||
49 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.125%, 7/01/24 |
No Opt. Call | 49,276 | |||||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1: | ||||||||||||
578 | 0.000%, 7/01/27 | No Opt. Call | 511,821 | |||||||||
165 | 0.000%, 7/01/29 | 7/28 at 98.64 | 135,356 | |||||||||
594 | 0.000%, 7/01/31 | 7/28 at 91.88 | 449,389 | |||||||||
351 | 0.000%, 7/01/33 | 7/28 at 86.06 | 243,582 | |||||||||
207 | 4.500%, 7/01/34 | 7/25 at 100.00 | 208,185 | |||||||||
100 | 5.000%, 7/01/58 | 7/28 at 100.00 | 100,410 | |||||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2: | ||||||||||||
179 | 4.329%, 7/01/40 | 7/28 at 100.00 | 179,258 | |||||||||
71 | 4.329%, 7/01/40 | 7/28 at 100.00 | 71,102 | |||||||||
Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1: | ||||||||||||
150 | 5.375%, 7/01/25 | No Opt. Call | 153,041 | |||||||||
175 | 5.625%, 7/01/27 | No Opt. Call | 186,255 | |||||||||
100 | 5.625%, 7/01/29 | No Opt. Call | 109,548 | |||||||||
119 | 5.750%, 7/01/31 | No Opt. Call | 134,296 | |||||||||
199 | 0.000%, 7/01/33 | 7/31 at 89.94 | 130,834 | |||||||||
177 | 4.000%, 7/01/33 | 7/31 at 103.00 | 176,720 | |||||||||
50 | 4.000%, 7/01/35 | 7/31 at 103.00 | 49,152 | |||||||||
Total Puerto Rico | 3,429,284 | |||||||||||
Rhode Island - 0.4% |
||||||||||||
100 | Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Care New England Issue, Refunding Series 2016B, 5.000%, 9/01/36 | 9/26 at 100.00 | 96,195 | |||||||||
180 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2021 Series 75A, 2.250%, 10/01/41 | 4/30 at 100.00 | 130,386 | |||||||||
205 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2022 Series 76A, 2.350%, 10/01/36 | 4/31 at 100.00 | 166,180 | |||||||||
50 | Rhode Island Housing and Mortgage Finance Corporation, Homeownership Opportunity Bond Program, Series 2020-72A, 2.550%, 10/01/40 | 10/29 at 100.00 | 40,370 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Rhode Island |
||||||||||||
$ | 100 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2015B, 4.500%, 6/01/45 |
6/25 at 100.00 | $ | 100,152 | |||||||
Total Rhode Island | 533,283 | |||||||||||
South Carolina - 0.9% |
||||||||||||
170 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2021A, 2.050%, 7/01/41 | 7/30 at 100.00 | 118,442 | |||||||||
975 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2023A, 4.750%, 7/01/43 | 7/32 at 100.00 | 988,483 | |||||||||
Total South Carolina | 1,106,925 | |||||||||||
South Dakota - 0.2% |
||||||||||||
75 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021A, 2.100%, 11/01/41 | 5/30 at 100.00 | 52,582 | |||||||||
105 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021B, 2.050%, 11/01/41 | 5/30 at 100.00 | 72,825 | |||||||||
110 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2022B, 2.300%, 11/01/37 | 11/30 at 100.00 | 92,428 | |||||||||
Total South Dakota | 217,835 | |||||||||||
Tennessee - 0.8% |
||||||||||||
125 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2021A, 4.000%, 12/01/51, (Mandatory Put 9/01/28) | 6/28 at 100.68 | 125,107 | |||||||||
165 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2022A, 5.500%, 10/01/53, (Mandatory Put 12/01/30) | 9/30 at 100.10 | 176,416 | |||||||||
65 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-3A, 2.300%, 7/01/41 | 1/31 at 100.00 | 48,015 | |||||||||
100 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2022-2, 4.050%, 7/01/37 | 7/31 at 100.00 | 100,103 | |||||||||
375 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Social Series 2023-3A, 5.200%, 7/01/43 | 7/32 at 100.00 | 394,375 | |||||||||
100 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Social Series 2024-1A, 4.500%, 7/01/44 | 1/33 at 100.00 | 100,032 | |||||||||
100 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Tender Option Bond Trust Series 2023-XL0448, 4.150%, 7/01/38 | 7/32 at 100.00 | 101,245 | |||||||||
Total Tennessee | 1,045,293 | |||||||||||
Texas - 6.8% |
||||||||||||
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A: | ||||||||||||
40 | 5.000%, 1/01/28 | 1/27 at 100.00 | 40,605 | |||||||||
55 | 5.000%, 1/01/30 | 1/27 at 100.00 | 56,029 | |||||||||
1,000 | (c) | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/31, (Pre-refunded 7/01/25) |
7/25 at 100.00 | 1,020,952 | ||||||||
25 | City of Houston, Texas, Convention & Entertainment Facilities Department Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2019, 5.000%, 9/01/34 | 9/28 at 100.00 | 26,989 | |||||||||
50 | Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B, 4.750%, 11/01/42 | 4/24 at 100.00 | 50,006 | |||||||||
200 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Refunding Series 2015, 4.000%, 2/15/31 | 2/25 at 100.00 | 201,230 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Texas |
||||||||||||
$ | 110 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2022B, 5.000%, 6/01/50, (Mandatory Put 12/01/28) | 12/27 at 101.49 | $ | 117,314 | |||||||
385 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/26 - AGM Insured | 11/24 at 100.00 | 388,241 | |||||||||
705 | Hidalgo County Regional Mobility Authority, Texas, Toll and Vehicle Registration Fee Revenue Bonds, Senior Lien Series 2022A, 0.000%, 12/01/42 | 12/31 at 68.27 | 294,079 | |||||||||
465 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2023A, 5.000%, 7/01/32 - AGM Insured, (AMT) |
No Opt. Call | 521,646 | |||||||||
50 | 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 | 50,019 | |||||||||
500 | Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2014D, 5.000%, 11/15/39 |
11/24 at 100.00 | 502,597 | |||||||||
200 | Klein Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Schoolhouse Series 2015A, 4.000%, 8/01/32 | 8/25 at 100.00 | 201,279 | |||||||||
430 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, 5.000%, 11/01/28, (AMT) | 11/25 at 100.00 | 437,158 | |||||||||
McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013: | ||||||||||||
50 | 5.000%, 12/01/25 | No Opt. Call | 49,784 | |||||||||
100 | 5.250%, 12/01/28 | 12/25 at 100.00 | 100,664 | |||||||||
300 | Midland Independent School District, Midland County, Texas, General Obligation Bonds, School Building Series 2024, 5.000%, 2/15/26, (WI/DD) | No Opt. Call | 310,534 | |||||||||
100 | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31, (AMT), 144A | 4/24 at 103.00 | 100,035 | |||||||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C: | ||||||||||||
245 | (c) | 7.000%, 9/01/43, (Pre-refunded 9/01/31) | 9/31 at 100.00 | 305,377 | ||||||||
500 | (c) | 6.750%, 9/01/45, (Pre-refunded 9/01/31) | 9/31 at 100.00 | 626,274 | ||||||||
110 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Series 2023A, 5.000%, 1/01/27 | No Opt. Call | 115,745 | |||||||||
Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2021A: | ||||||||||||
100 | 2.750%, 1/01/36, (AMT), 144A | 4/24 at 103.00 | 78,207 | |||||||||
300 | 2.875%, 1/01/41, (AMT), 144A | 4/24 at 103.00 | 216,375 | |||||||||
100 | 3.000%, 1/01/50, (AMT), 144A | 4/24 at 103.00 | 65,170 | |||||||||
100 | Round Rock, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2021C, 2.000%, 8/15/46 | 8/30 at 100.00 | 60,520 | |||||||||
100 | Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2021A, 2.050%, 9/01/41 | 3/30 at 100.00 | 69,514 | |||||||||
300 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023A, 5.500%, 1/01/54, (Mandatory Put 1/01/30) | 7/29 at 100.00 | 324,819 | |||||||||
150 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023B, 5.500%, 1/01/54, (Mandatory Put 1/01/34) | 7/33 at 100.00 | 168,012 | |||||||||
515 | Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Refunding Senior Lien Series 2019A, 4.000%, 12/31/38 | 12/29 at 100.00 | 511,407 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Texas |
||||||||||||
$ | 150 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A, 4.000%, 6/30/35 | 12/30 at 100.00 | $ | 154,878 | |||||||
500 | Texas State, General Obligation Bonds, College Student Loan Series 2023A, 5.000%, 8/01/36, (AMT) | 8/33 at 100.00 | 557,002 | |||||||||
500 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Refunding Second Tier Series 2015C, 5.000%, 8/15/34 | 8/24 at 100.00 | 502,052 | |||||||||
210 | Texas Transportation Commission, General Obligation Bonds, Highway Improvement Refunding Series 2024, 5.000%, 4/01/27 | No Opt. Call | 222,840 | |||||||||
Total Texas | 8,447,353 | |||||||||||
Utah - 0.2% |
||||||||||||
250 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, 5.250%, 7/01/36, (AMT) | 7/33 at 100.00 | 284,898 | |||||||||
Total Utah | 284,898 | |||||||||||
Virginia - 1.0% |
||||||||||||
Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022: | ||||||||||||
250 | 5.000%, 7/01/36, (AMT) | 1/32 at 100.00 | 269,407 | |||||||||
150 | 5.000%, 1/01/38, (AMT) | 1/32 at 100.00 | 159,629 | |||||||||
115 | 5.000%, 12/31/38, (AMT) | 12/32 at 100.00 | 122,860 | |||||||||
445 | 5.000%, 12/31/39, (AMT) | 12/32 at 100.00 | 471,738 | |||||||||
150 | Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2009A, 0.750%, 10/01/40, (Mandatory Put 9/02/25) | No Opt. Call | 140,177 | |||||||||
105 | Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2010A, 1.200%, 11/01/40, (Mandatory Put 5/31/24) | No Opt. Call | 104,348 | |||||||||
Total Virginia | 1,268,159 | |||||||||||
Washington - 2.3% |
||||||||||||
150 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2017C, 5.000%, 5/01/31, (AMT) | 5/27 at 100.00 | 154,931 | |||||||||
400 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2018A, 5.000%, 5/01/31, (AMT) | 5/27 at 100.00 | 413,150 | |||||||||
100 | Washington State Housing Finance Commission, Single Family Program Bonds, Series 2021-1N, 2.200%, 6/01/41 | 6/30 at 100.00 | 71,978 | |||||||||
330 | Washington State Housing Finance Commission, Social Municipal Certificates Multifamily Revenue Bonds, Series 2021-1 Class A, 3.500%, 12/20/35 | No Opt. Call | 306,547 | |||||||||
600 | Washington State, General Obligation Bonds, Motor Vehicle Fuel Tax & Vehicle Related Fees, Refunding Series R-2024C, 5.000%, 8/01/27 | No Opt. Call | 640,749 | |||||||||
500 | Washington State, General Obligation Bonds, Various Purpose Group 1 Series 2024C, 5.000%, 2/01/26 |
No Opt. Call | 517,144 | |||||||||
200 | Washington State, General Obligation Bonds, Various Purpose Refunding Series R-2022C, 4.000%, 7/01/27 |
No Opt. Call | 207,035 | |||||||||
595 | Whidbey Island Public Hospital District, Island County, Washington, General Obligation Bonds, Whidbey General Hospital, Series 2013, 5.500%, 12/01/33 | 4/24 at 100.00 | 573,367 | |||||||||
Total Washington | 2,884,901 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
West Virginia - 0.6% |
||||||||||||
$ | 100 | Monongalia County Commission, West Virginia, Special District Excise Tax Revenue Bonds, University Town Centre Economic Opportunity Development District, Refunding & Improvement Series 2017A, 4.500%, 6/01/27, 144A | No Opt. Call | $ | 100,304 | |||||||
190 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Series 2010, 0.625%, 12/01/38, (Mandatory Put 12/15/25) | No Opt. Call | 176,210 | |||||||||
80 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A, 5.000%, 9/01/25 | 9/24 at 100.00 | 80,093 | |||||||||
265 | West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System Obligated Group, Improvement Series 2017A, 3.375%, 6/01/29 | 6/27 at 100.00 | 264,308 | |||||||||
175 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024A, 4.400%, 11/01/44 | 5/33 at 100.00 | 173,404 | |||||||||
Total West Virginia | 794,319 | |||||||||||
Wisconsin - 4.5% |
||||||||||||
500 | Milwaukee, Wisconsin, General Obligation Bonds, Promissory Notes Series 2024-N1, 5.000%, 4/01/30 - AGM Insured, (WI/DD) | No Opt. Call | 553,876 | |||||||||
600 | 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 | 571,397 | |||||||||
345 | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022A-2, 3.700%, 10/01/46, (Mandatory Put 10/01/30) | No Opt. Call | 347,153 | |||||||||
350 | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-2, 2.875%, 5/01/27 | 5/26 at 100.00 | 337,801 | |||||||||
Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C: | ||||||||||||
65 | 4.050%, 11/01/30 | 5/26 at 100.00 | 63,275 | |||||||||
175 | 4.300%, 11/01/30 | 5/26 at 100.00 | 172,823 | |||||||||
40 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, PHW Muskego, Inc. Project, Series 2021, 4.000%, 10/01/41 | 10/28 at 102.00 | 33,115 | |||||||||
80 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Gundersen Health System, Refunding Series 2021A, 4.000%, 10/15/34 | 10/31 at 100.00 | 82,864 | |||||||||
200 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Marshfield Clinic Health System, Inc., Series 2020B-2, 5.000%, 2/15/51, (Mandatory Put 2/15/27) | 8/26 at 100.00 | 204,586 | |||||||||
1,555 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare Inc, Series 2015, 5.000%, 12/15/26 | 12/24 at 100.00 | 1,570,076 | |||||||||
565 | Wisconsin Housing and Ecconomic Development Authority, Home Ownership Revenue Bonds, Series 2020A, 2.700%, 9/01/35 | 9/29 at 100.00 | 492,943 | |||||||||
100 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2021C, 2.500%, 11/01/41 | 5/31 at 100.00 | 75,633 | |||||||||
100 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2023E, 3.875%, 11/01/54, (Mandatory Put 5/01/27) | 11/25 at 100.00 | 99,653 | |||||||||
240 | Wisconsin State, General Obligation Bonds, Refunding Series 2024-1, 5.000%, 5/01/32 | No Opt. Call | 280,601 | |||||||||
650 | Wisconsin State, Transportation Revenue Bonds, Refunding Series 2024-2, 5.000%, 7/01/26, (WI/DD) |
No Opt. Call | 678,674 | |||||||||
Total Wisconsin | 5,564,470 |
NIM |
Nuveen Select Maturities Municipal Fund (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Wyoming - 0.2% |
||||||||||||
$ | 235 | Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative, Dry Fork Station Facilities, Series 2019A, 3.625%, 7/15/39 | 5/29 at 100.00 | $ | 213,528 | |||||||
25 | Wyoming Community Development Authority, Housing Revenue Bonds, 2020 Series 1, 2.625%, 12/01/35 |
6/29 at 100.00 | 21,618 | |||||||||
60 | Wyoming Community Development Authority, Housing Revenue Bonds, 2023 Series 1, 4.200%, 12/01/38 |
6/32 at 100.00 | 60,757 | |||||||||
Total Wyoming | 295,903 | |||||||||||
Total Municipal Bonds (cost $120,749,998) |
118,854,866 | |||||||||||
Shares |
Description (a) |
Value |
||||||||||
COMMON STOCKS - 3.3% |
||||||||||||
Utilities - 3.3% |
||||||||||||
1,886 | (d),(e),(f) | Vistra Vision | $ | 4,187,626 | ||||||||
Total Utilities | 4,187,626 | |||||||||||
Total Common Stocks (cost $1,755,742) |
4,187,626 |
Principal Amount (000) |
Description (a) |
Coupon |
Maturity |
Value |
||||||||||||
ASSET-BACKED AND MORTGAGE-BACKED SECURITIES - 0.4% |
||||||||||||||||
$ | 199 | Federal Home Loan Mortgage Corporation, Notes, 2023 23-ML15 | 4.140% | 1/25/40 | $ | 191,796 | ||||||||||
196 | Federal Home Loan Mortgage Corporation, Notes, 2022 M068 | 3.150% | 10/15/36 | 165,546 | ||||||||||||
67 | Freddie Mac Multi-Family ML Certificates, Series ML 08, Series 2021, 2021 21-ML08 | 1.877% | 7/25/37 | 53,181 | ||||||||||||
106 | Freddie Mac Multi-Family ML Certificates, Series ML 10, Series 2021, 2021 ML10 | 2.032% | 1/25/38 | 80,875 | ||||||||||||
Total Asset-Backed and Mortgage-Backed Securities (cost $564,419) |
491,398 | |||||||||||||||
Total Long-Term Investments (cost $123,070,159) |
123,533,890 |
|||||||||||||||
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||||||
SHORT-TERM INVESTMENTS - 3.5% |
||||||||||||||||
MUNICIPAL BONDS - 3.5% |
||||||||||||||||
National - 1.1% |
||||||||||||||||
$ | 1,100 | (g) | Invesco Value Municipal Income Trust Variable Rate Munifund Term Preferred Shares Series 2015/6 IIM. JP MORGAN CHASE PUTTERS / DRIVERS TR VAR STS CTFS 5028. Ticker Symbol - VGM, 3.100%, 10/09/24, (AMT), (Mandatory Put 4/3/2024), 144A |
No Opt. Call | $ | 1,100,000 | ||||||||||
200 | (g) | J P Morgan Chase Putters / Drivers Tr Var Sts - Drivers-Ser 5055, 3.850%, 8/29/26, (AMT), (Mandatory Put 4/3/2024), 144A | 11/25 at 100.00 | 200,000 | ||||||||||||
Total National | 1,300,000 | |||||||||||||||
New York - 1.2% |
||||||||||||||||
500 | (g) | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2014 Adjustable Rate Series AA-6, 3.900%, 6/15/48, (Mandatory Put 4/3/2024) | 3/24 at 100.00 | 500,000 | ||||||||||||
1,000 | (g) | New York City, New York, General Obligation Bonds, Fiscal 2019 Series D-4, 4.000%, 12/01/47, (Mandatory Put 4/3/2024) |
3/24 at 100.00 | 1,000,000 | ||||||||||||
Total New York | 1,500,000 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Tennessee - 1.2% |
||||||||||||
$ | 1,500 | (g) | Blount County Public Building Authority, Tennessee, Local Government Public Improvement Revenue Bonds, Series 2003C1-A, 3.490%, 6/01/29, (Mandatory Put 4/4/2024) | 3/24 at 100.00 | $ | 1,500,000 | ||||||
Total Tennessee | 1,500,000 | |||||||||||
Total Municipal Bonds (cost $4,300,000) |
4,300,000 | |||||||||||
Total Short-Term Investments (cost $4,300,000) |
4,300,000 |
|||||||||||
Total Investments (cost $127,370,159) - 102.3% |
127,833,890 |
|||||||||||
Other Assets & Liabilities, Net - (2.3)% |
(2,823,812 |
) | ||||||||||
Net Assets Applicable to Common Shares - 100% |
$ |
125,010,078 |
(a) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. |
(b) | 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. |
(c) | 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. |
(d) | For fair value measurement disclosure purposes, investment classified as Level 3. |
(e) | On March 1, 2024, Vistra Corp. (“Vistra”) completed its acquisition of Energy Harbor Corp (“ENGH”). ENGH has been merged into a newly formed subsidiary of Vistra, Vistra Vision. In connection with the transaction, holders of ENGH common stock received a combination of cash and membership interests in Vistra Vision. These Vistra Vision interests were issued in a private transaction and may have reduced secondary market liquidity. |
(f) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. |
(g) | 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 | When-issued or delayed delivery security. |
NXP |
Nuveen Select Tax-Free Income Portfolio | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
LONG-TERM INVESTMENTS - 99.5% |
||||||||||||
MUNICIPAL BONDS - 98.6% |
||||||||||||
Alabama - 0.2% |
||||||||||||
$ | 1,450 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024, 5.250%, 10/01/49 | 10/33 at 100.00 | $ | 1,559,422 | |||||||
Total Alabama | 1,559,422 | |||||||||||
Arizona - 3.0% |
||||||||||||
255 | Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc. Projects, Series 2017F, 3.000%, 7/01/26 | No Opt. Call | 250,165 | |||||||||
1,950 | Glendale Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Subordinate Series 2012C, 4.000%, 7/01/38 | 4/24 at 100.00 | 1,950,142 | |||||||||
1,000 | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional Schools Projects, Series 2021A, 4.000%, 7/01/51, 144A | 7/31 at 100.00 | 811,155 | |||||||||
1,465 | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional Schools Projects, Taxable Series 2019B, 5.000%, 7/01/54, 144A |
7/29 at 100.00 | 1,409,670 | |||||||||
2,000 | Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A, 5.000%, 1/01/38 | 1/27 at 100.00 | 2,070,713 | |||||||||
1,950 | McAllister Academic Village LLC, Arizona, Revenue Bonds, Arizona State University Hassayampa Academic Village Project, Refunding Series 2016, 5.000%, 7/01/37 | 7/26 at 100.00 | 2,009,075 | |||||||||
1,250 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A, 5.000%, 7/01/34 | 7/25 at 100.00 | 1,274,719 | |||||||||
3,185 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2019A, 5.000%, 7/01/44 | 7/29 at 100.00 | 3,397,132 | |||||||||
5,000 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2019B, 5.000%, 7/01/49, (AMT) | 7/29 at 100.00 | 5,158,996 | |||||||||
2,410 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37 | No Opt. Call | 2,625,216 | |||||||||
Total Arizona | 20,956,983 | |||||||||||
Arkansas - 0.4% |
||||||||||||
6,555 | Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer Research Center Project, Series 2006, 0.000%, 7/01/46 - AMBAC Insured | No Opt. Call | 2,263,621 | |||||||||
500 | Pulaski County, Arkansas, Hospital Revenue Bonds, Arkansas Children’s Hospital, Series 2023, 5.000%, 3/01/43 | 3/33 at 100.00 | 540,281 | |||||||||
Total Arkansas | 2,803,902 | |||||||||||
California - 16.8% |
||||||||||||
11,000 | Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/41 - AGC Insured | No Opt. Call | 5,511,336 | |||||||||
4,245 | Anaheim City School District, Orange County, California, General Obligation Bonds, Election 2002 Series 2007, 0.000%, 8/01/31 - AGM Insured | No Opt. Call | 3,394,215 | |||||||||
Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C: |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
California |
||||||||||||
$ | 2,840 | 0.000%, 9/01/30 - AGM Insured | No Opt. Call | $ | 2,350,180 | |||||||
6,740 | (c) | 0.000%, 9/01/35 - AGM Insured, (ETM) | No Opt. Call | 4,750,413 | ||||||||
5,760 | 0.000%, 9/01/35 - AGM Insured | No Opt. Call | 3,980,868 | |||||||||
120 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49 | 6/30 at 100.00 | 116,652 | |||||||||
2,645 | Cypress Elementary School District, Orange County, California, General Obligation Bonds, Series 2009A, 0.000%, 5/01/34 - AGM Insured | No Opt. Call | 1,920,417 | |||||||||
2,440 | Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series 2002, 0.000%, 8/01/27 - AGM Insured | No Opt. Call | 2,195,952 | |||||||||
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 4, Series 2007A: | ||||||||||||
3,290 | 0.000%, 10/01/24 - NPFG Insured | No Opt. Call | 3,234,279 | |||||||||
2,275 | 0.000%, 10/01/28 - NPFG Insured | No Opt. Call | 1,981,728 | |||||||||
1,000 | Fresno, California, Airport Revenue Bonds, Series 2023A, 5.000%, 7/01/53 - BAM Insured, (AMT) | 7/33 at 100.00 | 1,054,737 | |||||||||
6,080 | (c) | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/28 - AMBAC Insured, (ETM) | No Opt. Call | 5,365,619 | ||||||||
6,060 | Grossmont Union High School District, San Diego County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/25 - NPFG Insured | No Opt. Call | 5,785,506 | |||||||||
1,495 | Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/33 - FGIC Insured | No Opt. Call | 1,118,483 | |||||||||
4,055 | Kern Community College District, California, General Obligation Bonds, Series 2003A, 0.000%, 3/01/28 - FGIC Insured |
No Opt. Call | 3,587,427 | |||||||||
3,480 | (d) | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 | 8/35 at 100.00 | 3,426,761 | ||||||||
450 | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.500%, 11/01/39 | No Opt. Call | 573,299 | |||||||||
11,985 | Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2002, Series 2007C, 0.000%, 8/01/32 - AGM Insured | No Opt. Call | 9,260,329 | |||||||||
1,195 | Palmdale School District, Los Angeles County, California, General Obligation Bonds, Series 2003, 0.000%, 8/01/28 - AGM Insured | No Opt. Call | 1,048,706 | |||||||||
Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A: | ||||||||||||
4,620 | 0.000%, 8/01/24 - NPFG Insured | No Opt. Call | 4,563,955 | |||||||||
3,000 | 0.000%, 8/01/25 - NPFG Insured | No Opt. Call | 2,859,249 | |||||||||
8,790 | Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/29 - AMBAC Insured | No Opt. Call | 7,367,717 | |||||||||
12,240 | (c) | Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 - FGIC Insured, (ETM) | No Opt. Call | 8,895,580 | ||||||||
1,500 | Placer Union High School District, Placer County, California, General Obligation Bonds, Series 2004C, 0.000%, 8/01/32 - AGM Insured | No Opt. Call | 1,158,039 | |||||||||
Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Election 2008 Series 2009A: | ||||||||||||
8,000 | 0.000%, 8/01/32 | No Opt. Call | 6,211,653 | |||||||||
8,000 | 0.000%, 8/01/33 | No Opt. Call | 6,005,857 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
California |
||||||||||||
$ | 3,940 | Rancho Mirage Redevelopment Agency, California, Tax Allocation Bonds, Combined Whitewater and 1984 Project Areas, Series 2003A, 0.000%, 4/01/35 - NPFG Insured | No Opt. Call | $ | 2,645,040 | |||||||
2,755 | Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2007, 0.000%, 7/01/25 - AGM Insured | No Opt. Call | 2,646,697 | |||||||||
3,510 | San Diego Association of Governments, California, South Bay Expressway Toll Revenue Bonds, First Senior Lien Series 2017A, 5.000%, 7/01/42 | 7/27 at 100.00 | 3,665,415 | |||||||||
3,570 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B, 5.000%, 7/01/48, (AMT) | 7/33 at 100.00 | 3,802,849 | |||||||||
2,110 | Sierra Sands Unified School District, Kern County, California, General Obligation Bonds, Election of 2006, Series 2006A, 0.000%, 11/01/28 - FGIC Insured | No Opt. Call | 1,807,292 | |||||||||
6,025 | Simi Valley Unified School District, Ventura County, California, General Obligation Bonds, Election of 2004 Series 2007C, 0.000%, 8/01/30 | No Opt. Call | 4,979,877 | |||||||||
1,150 | Woodside Elementary School District, San Mateo County, California, General Obligation Bonds, Election of 2005, Series 2007, 0.000%, 10/01/30 - AMBAC Insured | No Opt. Call | 941,375 | |||||||||
Total California | 118,207,502 | |||||||||||
Colorado - 8.6% |
||||||||||||
4,150 | Arkansas River Power Authority, Colorado, Power Supply System Revenue Bonds, Refunding Series 2018A, 5.000%, 10/01/43 | 10/28 at 100.00 | 4,217,400 | |||||||||
150 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-1, 4.000%, 8/01/44 | 8/29 at 100.00 | 144,318 | |||||||||
Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2: | ||||||||||||
1,600 | 5.000%, 8/01/44 | 8/29 at 100.00 | 1,670,780 | |||||||||
540 | 4.000%, 8/01/49 | 8/29 at 100.00 | 502,916 | |||||||||
5,000 | Colorado School of Mines Board of Trustees, Golden, Colorado, Institutional Enterprise Revenue Bonds, Series 2017B, 5.000%, 12/01/47 | 12/27 at 100.00 | 5,154,420 | |||||||||
2,475 | Colorado State, Certificates of Participation, Rural Series 2020A, 4.000%, 12/15/37 | 12/30 at 100.00 | 2,540,775 | |||||||||
9,000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022A, 5.000%, 11/15/47, (AMT) | 11/32 at 100.00 | 9,562,537 | |||||||||
2,275 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, 5.750%, 11/15/45, (AMT) | 11/32 at 100.00 | 2,562,562 | |||||||||
4,400 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018B, 5.000%, 12/01/43 | 12/28 at 100.00 | 4,660,911 | |||||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: | ||||||||||||
5,140 | 0.000%, 9/01/24 - NPFG Insured | No Opt. Call | 5,058,842 | |||||||||
8,350 | 0.000%, 9/01/29 - NPFG Insured | No Opt. Call | 6,997,480 | |||||||||
1,295 | 0.000%, 9/01/32 - NPFG Insured | No Opt. Call | 974,292 | |||||||||
4,475 | 0.000%, 9/01/33 - NPFG Insured | No Opt. Call | 3,237,805 | |||||||||
12,500 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2006A, 0.000%, 9/01/38 - NPFG Insured | 9/26 at 54.77 | 6,214,014 | |||||||||
Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A: | ||||||||||||
1,000 | 5.000%, 12/01/33 | 12/25 at 100.00 | 1,018,303 | |||||||||
620 | 5.000%, 12/01/35 | 12/25 at 100.00 | 629,246 | |||||||||
5,000 | Windy Gap Firming Project Water Activity Enterprise, Colorado, Senior Revenue Bonds, Series 2021, 5.000%, 7/15/51 | 7/31 at 100.00 | 5,331,135 | |||||||||
Total Colorado | 60,477,736 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Connecticut - 2.7% |
||||||||||||
$ | 2,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Avon Old Farms School, Series 2021D-1, 2.625%, 7/01/51 |
7/31 at 100.00 | $ | 1,335,957 | |||||||
2,500 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2022U, 4.000%, 7/01/52 | 7/32 at 100.00 | 2,367,540 | |||||||||
5,100 | Connecticut State, General Obligation Bonds, Green Series 2014G, 5.000%, 11/15/31 | 11/24 at 100.00 | 5,145,463 | |||||||||
3,500 | Connecticut State, General Obligation Bonds, Series 2018C, 5.000%, 6/15/26 | No Opt. Call | 3,645,277 | |||||||||
5,390 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2021A, 4.000%, 5/01/40 | 5/31 at 100.00 | 5,525,689 | |||||||||
750 | University of Connecticut, General Obligation Bonds, Series 2015A, 5.000%, 3/15/31 | 3/26 at 100.00 | 773,699 | |||||||||
Total Connecticut | 18,793,625 | |||||||||||
District of Columbia - 1.5% |
||||||||||||
1,500 | (c) | Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009C, 6.500%, 10/01/41, (Pre-refunded 10/01/26) - AGC Insured | 10/26 at 100.00 | 1,619,000 | ||||||||
2,000 | Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 6.500%, 10/01/44 |
10/28 at 100.00 | 2,213,062 | |||||||||
5,000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, 5.250%, 10/01/53, (AMT) | 10/32 at 100.00 | 5,358,556 | |||||||||
1,070 | Washington Metropolitan Area Transit Authority, District of Columbia, Dedicated Revenue Bonds, Green Series 2021A, 4.000%, 7/15/46 | 7/31 at 100.00 | 1,040,744 | |||||||||
Total District of Columbia | 10,231,362 | |||||||||||
Florida - 3.0% |
||||||||||||
3,690 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project, Series 2019A-2, 6.250%, 1/01/49, (AMT), (Mandatory Put 12/18/24), 144A |
4/24 at 100.00 | 3,690,865 | |||||||||
6,775 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2023C, 8.250%, 7/01/57, (AMT), (Mandatory Put 8/15/24), 144A | 4/24 at 100.00 | 6,773,578 | |||||||||
Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017A: | ||||||||||||
2,000 | 5.000%, 10/01/42, (AMT) | 10/27 at 100.00 | 2,049,963 | |||||||||
1,545 | 5.000%, 10/01/47, (AMT) | 10/27 at 100.00 | 1,574,238 | |||||||||
1,500 | Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Series 2015, 5.000%, 11/15/45 | 11/24 at 100.00 | 1,507,890 | |||||||||
5,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2017B, 5.000%, 10/01/40, (AMT) | 10/27 at 100.00 | 5,144,361 | |||||||||
Total Florida | 20,740,895 | |||||||||||
Georgia - 1.1% |
||||||||||||
3,665 | Brookhaven Development Authority, Georgia, Revenue Bonds, Children’s Healthcare of Atlanta, Inc. Project, Series 2019A, 4.000%, 7/01/49 | 7/29 at 100.00 | 3,517,060 | |||||||||
3,775 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023D, 5.000%, 12/01/54, (Mandatory Put 12/01/30) | 9/30 at 100.08 | 3,969,414 | |||||||||
Total Georgia | 7,486,474 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Guam - 1.5% |
||||||||||||
$ | 7,250 | Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/39 | 11/25 at 100.00 | $ | 7,317,807 | |||||||
1,740 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.250%, 7/01/25 | 6/24 at 100.00 | 1,744,091 | |||||||||
1,460 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2016, 5.000%, 1/01/46 | 7/26 at 100.00 | 1,489,658 | |||||||||
Total Guam | 10,551,556 | |||||||||||
Hawaii - 1.0% |
||||||||||||
6,895 | Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/41, (AMT) | 7/25 at 100.00 | 6,936,899 | |||||||||
Total Hawaii | 6,936,899 | |||||||||||
Idaho - 3.8% |
||||||||||||
5,000 | Boise City Water Renewal System, Idaho, Revenue Bonds, Refunding Series 2022, 5.000%, 9/01/47 | 9/32 at 100.00 | 5,395,474 | |||||||||
1,600 | Boise State University, Idaho, General Revenue Bonds, Series 2023A, 5.000%, 4/01/48 | 4/33 at 100.00 | 1,751,166 | |||||||||
10,000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series 2014A, 5.000%, 3/01/44 | 4/24 at 100.00 | 10,000,789 | |||||||||
1,220 | Idaho Housing & Finance Association, Idaho, Sales Tax Revenue Bonds, Transportation Expansion & Congestion Mitigation Fund, Series 2023A, 5.250%, 8/15/48 | 8/33 at 100.00 | 1,356,988 | |||||||||
Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, The College of Idaho Project, Series 2023: | ||||||||||||
2,000 | 5.625%, 11/01/43, 144A | 11/33 at 100.00 | 2,087,010 | |||||||||
6,000 | 5.875%, 11/01/53, 144A | 11/33 at 100.00 | 6,216,933 | |||||||||
Total Idaho | 26,808,360 | |||||||||||
Illinois - 8.3% |
||||||||||||
2,050 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46 | 4/27 at 100.00 | 2,149,368 | |||||||||
1,790 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C, 5.000%, 12/01/30 | 12/27 at 100.00 | 1,845,733 | |||||||||
725 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46 | 12/26 at 100.00 | 758,578 | |||||||||
3,900 | Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/28 - FGIC Insured | No Opt. Call | 3,232,600 | |||||||||
55 | Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/28 - FGIC Insured |
No Opt. Call | 45,671 | |||||||||
880 | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38 | 1/27 at 100.00 | 922,026 | |||||||||
1,500 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023C, 5.000%, 1/01/41 |
1/34 at 100.00 | 1,612,753 | |||||||||
5,000 | Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Project, Series 2023A, 5.250%, 1/01/53 - AGM Insured | 7/33 at 100.00 | 5,432,001 | |||||||||
1,190 | Chicago, Illinois, Water Revenue Bonds, Second Lien Series 2023A, 5.250%, 11/01/53 - AGM Insured |
5/33 at 100.00 | 1,291,320 | |||||||||
2,500 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2021A, 4.000%, 1/01/46 | 1/32 at 100.00 | 2,428,220 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Illinois |
||||||||||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A: | ||||||||||||
$ | 1,720 | 0.000%, 12/15/29 - NPFG Insured | No Opt. Call | $ | 1,416,668 | |||||||
765 | 0.000%, 6/15/30 | 9/23 at 67.44 | 619,062 | |||||||||
45 | (c) | 0.000%, 6/15/30, (ETM) | No Opt. Call | 37,201 | ||||||||
2,500 | 0.000%, 12/15/30 - NPFG Insured | No Opt. Call | 1,988,928 | |||||||||
17,195 | 0.000%, 12/15/31 - NPFG Insured | No Opt. Call | 13,185,577 | |||||||||
1,350 | 0.000%, 6/15/35 - NPFG Insured | No Opt. Call | 901,073 | |||||||||
15,000 | 0.000%, 12/15/36 - NPFG Insured | No Opt. Call | 9,327,808 | |||||||||
2,000 | 0.000%, 6/15/37 - NPFG Insured | No Opt. Call | 1,210,765 | |||||||||
9,370 | 0.000%, 6/15/39 - NPFG Insured | No Opt. Call | 5,069,071 | |||||||||
5,000 | Springfield, Illinois, Electric Revenue Bonds, Refunding Senior Lien Series 2015, 5.000%, 3/01/28 | 3/25 at 100.00 | 5,051,232 | |||||||||
Total Illinois | 58,525,655 | |||||||||||
Indiana - 1.3% |
||||||||||||
1,600 | Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B, 0.000%, 6/01/30 - AGM Insured | No Opt. Call | 1,285,537 | |||||||||
2,040 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Refunding 2015A, 5.000%, 12/01/40 | 6/25 at 100.00 | 2,064,547 | |||||||||
5,060 | Indiana Finance Authority, Hospital Revenue Bonds, Marion General Hospital Project, Series 2020A, 4.000%, 7/01/45 | 7/30 at 100.00 | 4,701,710 | |||||||||
500 | Northern Indiana Commuter Transportation District, Indiana, Limited Obligation Revenue Bonds, Series 2024, 5.250%, 1/01/49 | 7/34 at 100.00 | 554,538 | |||||||||
1,000 | Zionsville Community Schools Building Corporation, Boone County, Indiana, First Mortgage Bonds, Series 2005Z, 0.000%, 7/15/28 - AGM Insured | No Opt. Call | 866,374 | |||||||||
Total Indiana | 9,472,706 | |||||||||||
Iowa - 0.2% |
||||||||||||
1,165 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, 5.000%, 12/01/50, (Mandatory Put 12/01/42) | 12/29 at 103.00 | 1,234,644 | |||||||||
Total Iowa | 1,234,644 | |||||||||||
Kentucky - 0.1% |
||||||||||||
805 | Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Series 2013C, 6.750%, 7/01/43 | 7/31 at 100.00 | 924,911 | |||||||||
Total Kentucky | 924,911 | |||||||||||
Louisiana - 0.3% |
||||||||||||
1,870 | Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2017B, 5.000%, 12/01/42 - AGM Insured | 12/27 at 100.00 | 1,942,564 | |||||||||
Total Louisiana | 1,942,564 | |||||||||||
Massachusetts - 4.6% |
||||||||||||
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2016BB-1: |
||||||||||||
10,000 | 4.000%, 10/01/46 | 10/26 at 100.00 | 9,772,525 | |||||||||
2,230 | 5.000%, 10/01/46 | 10/26 at 100.00 | 2,281,918 | |||||||||
6,500 | Massachusetts Development Finance Agency, Revenue Bonds, Dana-Farber Cancer Institute Issue, Series 2016N, 5.000%, 12/01/46 | 12/26 at 100.00 | 6,633,576 | |||||||||
600 | 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 | 547,205 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Massachusetts |
||||||||||||
$ | 3,000 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2015B, 4.000%, 5/01/45 | 5/23 at 100.00 | $ | 2,944,972 | |||||||
2,415 | Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement & Accelerated Bridge Programs, Series 2017A, 5.000%, 6/01/47 | 6/27 at 100.00 | 2,503,415 | |||||||||
5,000 | Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement Program, Sustainability Green Series 2022A, 5.000%, 6/01/50 | 6/31 at 100.00 | 5,333,077 | |||||||||
1,000 | Newburyport, Massachusetts, General Obligation Bonds, Municipal Purpose Loan, Refunding Series 2013, 4.000%, 1/15/30 | 4/24 at 100.00 | 1,000,254 | |||||||||
University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2014-1: |
||||||||||||
480 | 5.000%, 11/01/39 | 11/24 at 100.00 | 483,035 | |||||||||
255 | (c) | 5.000%, 11/01/39, (Pre-refunded 11/01/24) |
11/24 at 100.00 | 257,176 | ||||||||
220 | (c) | 5.000%, 11/01/39, (Pre-refunded 11/01/24) |
11/24 at 100.00 | 221,878 | ||||||||
210 | (c) | 5.000%, 11/01/39, (Pre-refunded 11/01/24) |
11/24 at 100.00 | 211,792 | ||||||||
Total Massachusetts | 32,190,823 | |||||||||||
Michigan - 1.6% |
||||||||||||
5,000 | Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Refunding Series 2024A, 5.250%, 7/01/54 | 7/34 at 100.00 | 5,526,547 | |||||||||
385 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I, 5.000%, 4/15/38 |
10/25 at 100.00 | 393,580 | |||||||||
4,000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2016-I, 5.000%, 4/15/35 |
10/26 at 100.00 | 4,161,240 | |||||||||
1,000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2023B, 5.500%, 12/01/48 - AGM Insured, (AMT) | 12/33 at 100.00 | 1,106,271 | |||||||||
Total Michigan | 11,187,638 | |||||||||||
Minnesota - 0.8% |
||||||||||||
1,500 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, HealthPartners Obligated Group, Series 2024, 5.250%, 1/01/54 | 1/34 at 100.00 | 1,629,548 | |||||||||
3,850 | Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Hmong College Prep Academy Project, Series 2016A, 6.000%, 9/01/51 | 9/26 at 100.00 | 3,897,074 | |||||||||
Total Minnesota | 5,526,622 | |||||||||||
Missouri - 2.7% |
||||||||||||
5,000 | Jackson County, Missouri, Special Obligation Bonds, Series 2023A, 5.250%, 12/01/47 |
12/33 at 100.00 | 5,496,563 | |||||||||
7,000 | Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Project, Series 2019B, 5.000%, 3/01/54, (AMT) | 3/29 at 100.00 | 7,094,809 | |||||||||
5,000 | Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Improvement Series 2004B-1, 0.000%, 4/15/30 - AMBAC Insured |
No Opt. Call | 4,078,857 | |||||||||
2,000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/38 | 4/24 at 100.00 | 2,001,195 | |||||||||
Total Missouri | 18,671,424 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Nebraska - 1.3% |
||||||||||||
$ | 3,550 | Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Refunding Series 2023A-1, 5.000%, 5/01/54, (Mandatory Put 11/01/29) |
8/29 at 100.13 | $ | 3,756,045 | |||||||
Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015: | ||||||||||||
545 | 4.125%, 11/01/36 | 11/25 at 100.00 | 548,264 | |||||||||
2,700 | 5.000%, 11/01/45 | 11/25 at 100.00 | 2,732,961 | |||||||||
Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018: | ||||||||||||
250 | 5.000%, 7/01/26 | 7/25 at 100.00 | 252,913 | |||||||||
305 | 5.000%, 7/01/27 | 7/25 at 100.00 | 308,816 | |||||||||
500 | (c) | Platte County School District 001, Columbus Public Schools, Nebraska, General Obligation Bonds, School Building Series 2014, 5.000%, 12/15/39, (Pre-refunded 6/15/24) |
6/24 at 100.00 | 501,169 | ||||||||
1,000 | University of Nebraska Facilities Corporation, Nebraska, Facilities Program Bonds, Green Series 2021B, 5.000%, 7/15/51 | 7/31 at 100.00 | 1,065,575 | |||||||||
Total Nebraska | 9,165,743 | |||||||||||
Nevada - 0.7% |
||||||||||||
1,710 | Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A, 5.000%, 9/01/37 | 9/27 at 100.00 | 1,753,324 | |||||||||
3,000 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015, 5.000%, 6/01/34 | 12/24 at 100.00 | 3,030,033 | |||||||||
Total Nevada | 4,783,357 | |||||||||||
New Hampshire - 0.3% |
||||||||||||
2,250 | New Hampshire Business Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2003, 3.125%, 8/01/24, (AMT) | No Opt. Call | 2,241,951 | |||||||||
Total New Hampshire | 2,241,951 | |||||||||||
New Jersey - 5.4% |
||||||||||||
3,495 | Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013, 5.000%, 1/01/37 | 4/24 at 100.00 | 3,503,484 | |||||||||
940 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.125%, 1/01/39 - AGM Insured, (AMT) | 4/24 at 100.00 | 940,097 | |||||||||
2,000 | (c) | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB, 5.500%, 6/15/31, (Pre-refunded 12/15/26) | 12/26 at 100.00 | 2,134,197 | ||||||||
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A: | ||||||||||||
305 | 5.000%, 7/01/28 - AGM Insured | 7/25 at 100.00 | 310,267 | |||||||||
260 | 5.000%, 7/01/29 - AGM Insured | 7/25 at 100.00 | 264,714 | |||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C: | ||||||||||||
4,900 | 0.000%, 12/15/28 - AMBAC Insured | No Opt. Call | 4,218,107 | |||||||||
35,000 | 0.000%, 12/15/34 - AGM Insured | No Opt. Call | 24,807,377 | |||||||||
2,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA, 5.250%, 6/15/29 | 6/25 at 100.00 | 2,044,357 | |||||||||
Total New Jersey | 38,222,600 | |||||||||||
New Mexico - 0.7% |
||||||||||||
1,000 | Farmington Municipal School District 5, San Juan County, New Mexico, General Obligation Bonds, School Building Series 2015, 5.000%, 9/01/28 | 9/25 at 100.00 | 1,021,771 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
New Mexico |
||||||||||||
$ | 3,000 | New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42, (AMT) | 4/24 at 100.00 | $ | 3,006,726 | |||||||
1,035 | University of New Mexico, Revenue Bonds, Refunding & Improvement Subordinate Lien Series 2016A, 4.500%, 6/01/36 | 6/26 at 100.00 | 1,044,523 | |||||||||
Total New Mexico | 5,073,020 | |||||||||||
New York - 3.8% |
||||||||||||
2,000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2019A-1, 5.000%, 11/15/48, (Mandatory Put 11/15/24) |
No Opt. Call | 2,011,649 | |||||||||
1,260 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series HH, 5.000%, 6/15/37 | 6/25 at 100.00 | 1,278,506 | |||||||||
3,775 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2024 Series BB-2, 5.250%, 6/15/47 |
12/33 at 100.00 | 4,221,989 | |||||||||
10,000 | New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, General Purpose, Series 2020A, 4.000%, 3/15/45 | 9/30 at 100.00 | 9,710,255 | |||||||||
2,500 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Four Series 2022, 5.250%, 8/01/47, (AMT) | 8/32 at 100.00 | 2,690,030 | |||||||||
5,000 | Triborough Bridge and Tunnel Authority, New York, Sales Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital Lockbox-City Sales Tax, Series 2024A-1, 5.250%, 5/15/59 |
5/34 at 100.00 | 5,503,785 | |||||||||
1,000 | TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B, 5.000%, 6/01/24 | No Opt. Call | 999,353 | |||||||||
Total New York | 26,415,567 | |||||||||||
North Carolina - 0.2% |
||||||||||||
1,000 | Charlotte, North Carolina, Airport Revenue Bonds, Charlotte Douglas International, Series 2023B, 5.000%, 7/01/48, (AMT) | 7/33 at 100.00 | 1,063,643 | |||||||||
Total North Carolina | 1,063,643 | |||||||||||
Ohio - 0.2% |
||||||||||||
1,000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020B-2 Class 2,5.000%, 6/01/55 |
6/30 at 100.00 | 947,115 | |||||||||
250 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009D, 3.375%, 8/01/29 |
No Opt. Call | 236,677 | |||||||||
Total Ohio | 1,183,792 | |||||||||||
Oklahoma - 1.0% |
||||||||||||
1,230 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B, 5.000%, 8/15/38 | 8/28 at 100.00 | 1,256,880 | |||||||||
5,000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2023, 5.500%, 1/01/53 | 1/32 at 100.00 | 5,533,755 | |||||||||
Total Oklahoma | 6,790,635 | |||||||||||
Oregon - 2.7% |
||||||||||||
1,505 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Convertible Deferred Interest Series 2017D, 5.000%, 6/15/36 |
6/27 at 100.00 | 1,580,126 | |||||||||
60 | Clackamas Community College District, Oregon, General Obligation Bonds, Deferred Interest Series 2017A, 5.000%, 6/15/40 | 6/27 at 100.00 | 62,402 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Oregon |
||||||||||||
$ | 500 | Clackamas County Hospital Facility Authority, Oregon, Senior Living Revenue Bonds, Willamette View Project, Series 2017A, 5.000%, 11/15/52 | 11/25 at 102.00 | $ | 466,177 | |||||||
2,000 | Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Deferred Interest Series 2017A, 0.000%, 6/15/41 | 6/27 at 53.27 | 896,712 | |||||||||
2,130 | Medford Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Asante Health System, Refunding Series 2020A, 5.000%, 8/15/50 | 8/30 at 100.00 | 2,220,299 | |||||||||
2,000 | Oregon Facilities Authority, Revenue Bonds, Willamette University, Refunding Series 2016B, 5.000%, 10/01/40 |
10/26 at 100.00 | 2,024,535 | |||||||||
5,000 | Oregon Health and Science University, Revenue Bonds, Green Series 2021A, 4.000%, 7/01/44 | 1/32 at 100.00 | 4,899,939 | |||||||||
2,500 | Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Health Projects, Refunding Series 2016A, 5.000%, 5/15/46 | 5/26 at 100.00 | 2,538,584 | |||||||||
750 | Washington and Clackamas Counties School District 23J Tigard-Tualatin, Oregon, General Obligation Bonds, Series 2017, 5.000%, 6/15/30 | 6/27 at 100.00 | 796,819 | |||||||||
Yamhill County, Oregon, Revenue Bonds, George Fox University Project, Refunding Series 2021: | ||||||||||||
1,500 | 4.000%, 12/01/36 | 12/31 at 100.00 | 1,501,622 | |||||||||
1,875 | 4.000%, 12/01/41 | 12/31 at 100.00 | 1,835,515 | |||||||||
Total Oregon | 18,822,730 | |||||||||||
Pennsylvania - 0.9% |
||||||||||||
1,500 | Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Project, Series 2008B, 3.750%, 10/01/47 |
4/31 at 100.00 | 1,206,925 | |||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, State System of Higher Education, Series 2016AT-1: |
||||||||||||
4,935 | 5.000%, 6/15/31 | 6/26 at 100.00 | 5,086,606 | |||||||||
65 | (c) | 5.000%, 6/15/31, (Pre-refunded 6/15/26) |
6/26 at 100.00 | 67,687 | ||||||||
Total Pennsylvania | 6,361,218 | |||||||||||
Puerto Rico - 2.5% |
||||||||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1: |
||||||||||||
21,600 | 0.000%, 7/01/46 | 7/28 at 41.38 | 6,923,265 | |||||||||
2,550 | 4.750%, 7/01/53 | 7/28 at 100.00 | 2,549,822 | |||||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2: |
||||||||||||
4,000 | 4.329%, 7/01/40 | 7/28 at 100.00 | 4,005,769 | |||||||||
3,624 | 4.784%, 7/01/58 | 7/28 at 100.00 | 3,614,944 | |||||||||
536 | Puerto Rico, General Obligation Bonds, Clawback Highway Transportation Authority Claims Taxable Series 2022, 0.000%, 11/01/51 | No Opt. Call | 315,888 | |||||||||
Total Puerto Rico | 17,409,688 | |||||||||||
South Dakota - 0.1% |
||||||||||||
1,000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/35 | 11/25 at 100.00 | 1,026,256 | |||||||||
Total South Dakota | 1,026,256 | |||||||||||
Tennessee - 0.7% |
||||||||||||
5,000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Subordinate Series 2019B, 5.000%, 7/01/49, (AMT) | 7/30 at 100.00 | 5,202,182 | |||||||||
Total Tennessee | 5,202,182 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Texas - 8.0% |
||||||||||||
$ 4,675 | (c) | Alamo Regional Mobility Authority, Texas, Vehicle Registration Fee Revenue Bonds, Senior Lien Series 2016, 5.000%, 6/15/46, (Pre-refunded 6/15/25) |
6/25 at 100.00 | $ | 4,762,782 | |||||||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A: |
||||||||||||
110 | (c) | 5.000%, 1/01/33, (Pre-refunded 7/01/25) |
7/25 at 100.00 | 112,305 | ||||||||
85 | (c) | 5.000%, 1/01/34, (Pre-refunded 7/01/25) |
7/25 at 100.00 | 86,781 | ||||||||
240 | (c) | 5.000%, 1/01/35, (Pre-refunded 7/01/25) |
7/25 at 100.00 | 245,028 | ||||||||
1,160 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45 | 6/25 at 100.00 | 1,170,514 | |||||||||
2,500 | Harris County Flood Control District, Texas, Contract Tax Bonds, Refunding Series 2017A, 4.000%, 10/01/35 |
10/27 at 100.00 | 2,539,109 | |||||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H: |
||||||||||||
520 | 0.000%, 11/15/24 - NPFG Insured | No Opt. Call | 506,360 | |||||||||
110 | (c) | 0.000%, 11/15/24 - NPFG Insured, (ETM) | No Opt. Call | 107,193 | ||||||||
2,935 | 0.000%, 11/15/30 - NPFG Insured | No Opt. Call | 2,277,088 | |||||||||
480 | (c) | 0.000%, 11/15/30 - NPFG Insured, (ETM) | No Opt. Call | 384,206 | ||||||||
1,405 | 0.000%, 11/15/32 - NPFG Insured | 11/31 at 94.05 | 978,525 | |||||||||
2,510 | 0.000%, 11/15/36 - NPFG Insured | 11/31 at 73.51 | 1,329,968 | |||||||||
12,480 | 0.000%, 11/15/41 - NPFG Insured | 11/31 at 53.78 | 4,648,967 | |||||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3: |
||||||||||||
2,235 | 0.000%, 11/15/32 - NPFG Insured | 11/24 at 62.71 | 1,364,665 | |||||||||
4,230 | 0.000%, 11/15/35 - NPFG Insured | 11/24 at 52.47 | 2,158,354 | |||||||||
Harris County-Houston Sports Authority, Texas, Special Revenue Bonds, Refunding Senior Lien Series 2001A: | ||||||||||||
3,045 | 0.000%, 11/15/34 - NPFG Insured | 11/30 at 78.27 | 1,896,861 | |||||||||
8,110 | 0.000%, 11/15/38 - NPFG Insured | 11/30 at 61.17 | 3,823,322 | |||||||||
575 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B, 0.000%, 9/01/24 - AMBAC Insured | No Opt. Call | 565,276 | |||||||||
5,325 | Irving Independent School District, Dallas County, Texas, General Obligation Bonds, School Building Series 2023, 5.000%, 2/15/41 | 8/32 at 100.00 | 5,961,163 | |||||||||
13,410 | Lamar Consolidated Independent School District, Fort Bend County, Texas, General Obligation Bonds, Schoolhouse Series 2023A, 5.000%, 2/15/53 | 2/33 at 100.00 | 14,503,134 | |||||||||
1,500 | Midland Independent School District, Midland County, Texas, General Obligation Bonds, School Building Series 2024, 5.000%, 2/15/50, (WI/DD) | 2/28 at 100.00 | 1,558,396 | |||||||||
430 | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31, (AMT), 144A | 4/24 at 103.00 | 430,150 | |||||||||
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I: | ||||||||||||
290 | (c) | 6.200%, 1/01/42, (Pre-refunded 1/01/25) - AGC Insured |
1/25 at 100.00 | 295,497 | ||||||||
2,000 | (c) | 6.500%, 1/01/43, (Pre-refunded 1/01/25) |
1/25 at 100.00 | 2,041,546 | ||||||||
200 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2016A, 4.000%, 11/15/42 | 5/26 at 100.00 | 194,273 | |||||||||
2,410 | Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 - AMBAC Insured | No Opt. Call | 2,288,114 | |||||||||
Total Texas | 56,229,577 |
Principal Amount (000) |
Description (a) |
Optional Call Provisions (b) |
Value |
|||||||||
Utah - 0.3% |
||||||||||||
$ 2,095 | Millard School District, Utah, Lease Revenue Bonds, Local Building Authority Series 2024, 5.000%, 5/15/49 - BAM Insured | 5/34 at 100.00 | $ | 2,268,097 | ||||||||
Total Utah | 2,268,097 | |||||||||||
Virgin Islands - 0.2% |
||||||||||||
1,645 | Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A, 5.000%, 10/01/39 | 10/32 at 100.00 | 1,720,243 | |||||||||
Total Virgin Islands | 1,720,243 | |||||||||||
Washington - 5.1% |
||||||||||||
5,000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2019, 5.000%, 4/01/44, (AMT) | 4/29 at 100.00 | 5,172,903 | |||||||||
3,485 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2021C, 5.000%, 8/01/46, (AMT) | 8/31 at 100.00 | 3,644,489 | |||||||||
860 | Snohomish County School District 306 Lakewood, Washington, General Obligation Bonds, Series 2014, 5.000%, 12/01/28 | 6/24 at 100.00 | 861,546 | |||||||||
4,000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2012A, 5.000%, 10/01/32 | 4/24 at 100.00 | 4,006,334 | |||||||||
5,000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2014D, 5.000%, 10/01/38 | 10/24 at 100.00 | 4,980,595 | |||||||||
8,390 | Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Refunding Series2021B. Exchange Purchase, 4.000%, 7/01/58 | 7/31 at 100.00 | 7,719,019 | |||||||||
5,710 | Washington State, General Obligation Bonds, Various Purpose Series 2015B, 5.000%, 2/01/37 | 2/25 at 100.00 | 5,772,473 | |||||||||
2,060 | Washington State, General Obligation Bonds, Various Purpose Series 2016A-1, 5.000%, 8/01/39 |
8/25 at 100.00 | 2,090,340 | |||||||||
2,115 | Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003F, 0.000%, 12/01/27 - NPFG Insured |
No Opt. Call | 1,887,716 | |||||||||
Total Washington | 36,135,415 | |||||||||||
Wisconsin - 1.0% |
||||||||||||
3,290 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012, 5.000%, 6/01/39 | 4/24 at 100.00 | 3,291,411 | |||||||||
3,855 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc., Series 2016, 5.000%, 12/01/41 | 11/26 at 100.00 | 3,967,019 | |||||||||
Total Wisconsin | 7,258,430 | |||||||||||
Total Municipal Bonds (cost $649,171,933) |
692,605,847 | |||||||||||
Shares |
Description (a) |
Value |
||||||||||
COMMON STOCKS - 0.9% |
||||||||||||
Utilities - 0.9% |
||||||||||||
2,770 | (e),(f),(g) | Vistra Vision | $ | 6,149,799 | ||||||||
Total Utilities | 6,149,799 | |||||||||||
Total Common Stocks (cost $2,699,742) |
6,149,799 | |||||||||||
Total Long-Term Investments (cost $651,871,675) |
698,755,646 |
|||||||||||
Other Assets & Liabilities, Net - 0.5% |
3,572,503 |
|||||||||||
Net Assets Applicable to Common Shares - 100% |
$ |
702,328,149 |
NXP |
Nuveen Select Tax-Free Income Portfolio (continued) | |
Portfolio of Investments March 31, 2024 |
(a) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. |
(b) | 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. |
(c) | 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. |
(d) | 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. |
(e) | For fair value measurement disclosure purposes, investment classified as Level 3. |
(f) | On March 1, 2024, Vistra Corp. (“Vistra”) completed its acquisition of Energy Harbor Corp (“ENGH”). ENGH has been merged into a newly formed subsidiary of Vistra, Vistra Vision. In connection with the transaction, holders of ENGH common stock received a combination of cash and membership interests in Vistra Vision. These Vistra Vision interests were issued in a private transaction and may have reduced secondary market liquidity. |
(g) | Non-income producing; issuer has not declared an ex-dividend date within the past twelve months. |
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 | When-issued or delayed delivery security. |
March 31, 2024 |
NIM |
NXP |
||||||
ASSETS |
||||||||
Long-term investments, at value † |
$ | 123,533,890 | $ | 698,755,646 | ||||
Short-term investments, at value à |
4,300,000 | – | ||||||
Cash |
– | 275,175 | ||||||
Receivables: |
||||||||
Interest |
1,329,956 | 6,389,650 | ||||||
Investments sold |
549,583 | 7,420,000 | ||||||
Deferred offering costs |
– | 242,185 | ||||||
Other |
7,554 | 131,949 | ||||||
Total assets |
129,720,983 |
713,214,605 |
||||||
LIABILITIES |
||||||||
Cash overdraft |
843,287 | – | ||||||
Payables: |
||||||||
Management fees |
48,709 | 111,671 | ||||||
Dividends |
317,121 | 2,214,150 | ||||||
Interest |
66 | – | ||||||
Investments purchased - regular settlement |
1,577,532 | 6,775,000 | ||||||
Investments purchased - when-issued/delayed-delivery settlement |
1,877,933 | 1,553,130 | ||||||
Accrued expenses: |
||||||||
Custodian fees |
32,300 | 49,630 | ||||||
Investor relations |
2,063 | 7,366 | ||||||
Trustees fees |
2,137 | 125,474 | ||||||
Professional fees |
2,845 | 4,526 | ||||||
Shareholder reporting expenses |
6,098 | 26,964 | ||||||
Shareholder servicing agent fees |
362 | 3,122 | ||||||
Other |
452 | 15,423 | ||||||
Total liabilities |
4,710,905 |
10,886,456 |
||||||
Net assets applicable to common shares |
$ |
125,010,078 |
$ |
702,328,149 |
||||
12,446,597 | ||||||||
Net asset value (“NAV”) per common share outstanding |
$ | 10.04 | $ | 14.65 | ||||
NET ASSETS APPLICABLE TO COMMON SHARES CONSIST OF: |
||||||||
Common shares, $0.01 par value per share |
$ | 124,466 | $ | 479,380 | ||||
Paid-in capital |
123,856,804 | 671,495,834 | ||||||
Total distributable earnings (loss) |
1,028,808 | 30,352,935 | ||||||
Net assets applicable to common shares |
$ | 125,010,078 | $ | 702,328,149 | ||||
Authorized shares: |
||||||||
Common |
Unlimited | Unlimited | ||||||
† |
$ | 123,070,159 | $ | 651,871,675 | ||||
à |
$ | 4,300,000 | $ | – |
Year Ended March 31, 2024 |
NIM |
NXP |
||||||
INVESTMENT INCOME |
||||||||
Interest |
$ | 4,565,981 | $ | 30,178,334 | ||||
Total investment income |
4,565,981 | 30,178,334 | ||||||
EXPENSES |
||||||||
Management fees |
566,015 | 1,282,037 | ||||||
Shareholder servicing agent fees |
2,195 | 19,036 | ||||||
Interest expense |
1,708 | 19,585 | ||||||
Trustees fees |
4,654 | 25,708 | ||||||
Custodian expenses, net |
55,291 | 37,400 | ||||||
Investor relations expenses |
6,258 | 33,222 | ||||||
Professional fees |
39,175 | 66,758 | ||||||
Shareholder reporting expenses |
17,720 | 58,534 | ||||||
Stock exchange listing fees |
7,415 | 7,142 | ||||||
Other |
15,441 | 41,045 | ||||||
Total expenses |
715,872 | 1,590,467 | ||||||
Net investment income (loss) |
3,850,109 |
28,587,867 |
||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||
Realized gain (loss) from: |
||||||||
Investments |
1,108,535 | (2,647,731 | ) | |||||
Net realized gain (loss) |
1,108,535 | (2,647,731 | ) | |||||
Change in unrealized appreciation (depreciation) on: |
||||||||
Investments |
(577,161 | ) | 5,458,669 | |||||
Net change in unrealized appreciation (depreciation) |
(577,161 | ) | 5,458,669 | |||||
Net realized and unrealized gain (loss) |
531,374 | 2,810,938 | ||||||
Net increase (decrease) in net assets applicable to common shares from operations |
$ |
4,381,483 |
$ |
31,398,805 |
NIM |
NXP |
|||||||||||||||
Year Ended 3/31/24 |
Year Ended 3/31/23 |
Year Ended 3/31/24 |
Year Ended 3/31/23 |
|||||||||||||
OPERATIONS |
||||||||||||||||
Net investment income (loss) |
$ | 3,850,109 | $ | 3,510,912 | $ | 28,587,867 | $ | 23,834,378 | ||||||||
Net realized gain (loss) |
1,108,535 | (609,605) | (2,647,731 | ) | (9,161,030) | |||||||||||
Net change in unrealized appreciation (depreciation) |
(577,161 | ) | (2,678,287) | 5,458,669 | (14,972,548) | |||||||||||
Net increase (decrease) in net assets applicable to common shares from operations |
4,381,483 | 223,020 | 31,398,805 | (299,200) | ||||||||||||
DISTRIBUTIONS TO COMMON SHAREHOLDERS |
||||||||||||||||
Dividends |
(3,883,338 | ) | (3,379,252) | (27,510,589 | ) | (25,973,777) | ||||||||||
Total distributions |
(3,883,338 | ) | (3,379,252) | (27,510,589 | ) | (25,973,777) | ||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
Common shares: |
||||||||||||||||
Proceeds from shelf offering, net of offering costs |
– | – | 15,928,457 | – | ||||||||||||
Reinvestments of distributions |
– | – | 455,655 | 79,642 | ||||||||||||
Net increase (decrease) applicable to common shares from capital share transactions |
– | – | 16,384,112 | 79,642 | ||||||||||||
Net increase (decrease) in net assets applicable to common shares |
498,145 | (3,156,232) | 20,272,328 | (26,193,335) | ||||||||||||
Net assets applicable to common shares at the beginning of the period |
124,511,933 | 127,668,165 | 682,055,821 | 708,249,156 | ||||||||||||
Net assets applicable to common shares at the end of the period |
$ |
125,010,078 |
$ |
124,511,933 |
$ |
702,328,149 |
$ |
682,055,821 |
Investment Operations |
Less Distributions to Common Shareholders |
Common Share |
||||||||||||||||||||||||||||||||||||||
Common Share Net Asset Value, Beginning of Period |
Net Investment Income (NII) (Loss)(a) |
Net Realized/ Unrealized Gain (Loss) |
Total |
From NII |
From Net Realized Gains |
Total |
Discount Per Share Repurchased and Retired |
Net Asset Value, End of Period |
Share Price, End of Period |
|||||||||||||||||||||||||||||||
NIM |
||||||||||||||||||||||||||||||||||||||||
3/31/24 |
$10.00 | $0.31 | $0.04 | $0.35 | $(0.31 | ) | $– | $(0.31 | ) | $– | $10.04 | $8.99 | ||||||||||||||||||||||||||||
3/31/23 |
10.26 | 0.28 | (0.27 | ) | 0.01 | (0.27 | ) | – | (0.27 | ) | – | 10.00 | 9.23 | |||||||||||||||||||||||||||
3/31/22 |
10.77 | 0.27 | (0.51 | ) | (0.24 | ) | (0.27 | ) | – | (0.27 | ) | – | 10.26 | 9.58 | ||||||||||||||||||||||||||
3/31/21 |
10.44 | 0.29 | 0.41 | 0.70 | (0.32 | ) | (0.05 | ) | (0.37 | ) | – | 10.77 | 10.68 | |||||||||||||||||||||||||||
3/31/20 |
10.56 | 0.31 | (0.11 | ) | 0.20 | (0.32 | ) | – | (0.32 | ) | – | 10.44 | 9.77 | |||||||||||||||||||||||||||
NXP |
||||||||||||||||||||||||||||||||||||||||
3/31/24 |
14.57 | 0.60 | 0.06 | 0.66 | (0.58 | ) | – | (0.58 | ) | –(d | ) | 14.65 | 14.44 | |||||||||||||||||||||||||||
3/31/23 |
15.13 | 0.51 | (0.51 | ) | – | (0.56 | ) | – | (0.56 | ) | – | 14.57 | 14.31 | |||||||||||||||||||||||||||
3/31/22 |
16.34 | 0.43 | (1.09 | ) | (0.66 | ) | (0.55 | ) | – | (0.55 | ) | – | 15.13 | 14.43 | ||||||||||||||||||||||||||
3/31/21 |
15.77 | 0.59 | 0.53 | 1.12 | (0.55 | ) | – | (0.55 | ) | – | 16.34 | 17.39 | ||||||||||||||||||||||||||||
3/31/20 |
15.51 | 0.58 | 0.23 | 0.81 | (0.55 | ) | – | (0.55 | ) | – | 15.77 | 14.97 |
(a) | Based on average shares outstanding. |
(b) | Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at Common Share NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized. |
Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized. |
Common Share Supplemental Data/ Ratios Applicable to Common Shares |
||||||||||||||||
Common Share Total Returns |
Ratios to Average Net Assets |
|||||||||||||||
Based on Net Asset Value(b) |
Based on Share Price(b) |
Net Assets, End of Period (000) |
Expenses(c) |
Net Investment Income (Loss)(c) |
Portfolio Turnover Rate |
|||||||||||
3.61% |
0.85% | $125,010 | 0.58 | % | 3.13% | 23 | % | |||||||||
0.17 |
(0.79) | 124,512 | 0.57 | 2.84 | 21 | |||||||||||
(2.31) |
(7.98) | 127,668 | 0.56 | 2.54 | 13 | |||||||||||
6.73 |
13.22 | 134,048 | 0.56 | 2.69 | 12 | |||||||||||
1.83 |
1.14 | 129,879 | 0.56 | 2.88 | 13 | |||||||||||
4.70 |
5.11 | 702,328 | 0.23 | 4.21 | 26 | |||||||||||
0.07 |
3.19 | 682,056 | 0.24 | 3.53 | 22 | |||||||||||
(4.24) |
(14.16) | 708,249 | 0.29 | 3.26 | 13 | |||||||||||
7.16 |
20.16 | 271,091 | 0.26 | 3.64 | 10 | |||||||||||
5.19 |
5.89 | 261,438 | 0.26 | 3.60 | 10 |
(c) | ● Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to borrowings and/or reverse repurchase agreements (as described in Notes to Financial Statements), where applicable. |
● The expense ratios reflect, among other things, all interest expense and other costs related to borrowings and/or reverse repurchase agreements (as described in Notes to Financial Statements) and/or 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 (as described in Notes to Financial Statements), where applicable, as follows: |
Ratios of Interest Expense to Average Net Assets Applicable to Common Shares |
||||||||||||||
NIM |
NXP |
|||||||||||||
3/31/24 |
–% | –% | ||||||||||||
3/31/23 |
– | – | ||||||||||||
3/31/22 |
– | – | ||||||||||||
3/31/21 |
– | – | ||||||||||||
3/31/20 |
– | – | ||||||||||||
(d) | Value rounded to zero. |
1. |
General Information |
· |
Nuveen Select Maturities Municipal Fund (NIM) |
· |
Nuveen Select Tax-Free Income Portfolio (NXP) |
2. |
Significant Accounting Policies |
Fund |
Gross Custodian Fee Credits |
|||
NIM |
$ | 2,979 | ||
NXP |
17,116 |
3. |
Investment Valuation and Fair Value Measurements |
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). |
NIM |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
Long-Term Investments: |
||||||||||||||||
Municipal Bonds |
$ | – | $ | 118,854,866 | $ | – | $ | 118,854,866 | ||||||||
Common Stocks |
– | – | 4,187,626 | 4,187,626 | ||||||||||||
Asset-Backed and Mortgage-Backed Securities |
– | 491,398 | – | 491,398 | ||||||||||||
Short-Term Investments: |
||||||||||||||||
Municipal Bonds |
– | 4,300,000 | – | 4,300,000 | ||||||||||||
Total |
$ | – | $ | 123,646,264 | $ | 4,187,626 | $ | 127,833,890 | ||||||||
NXP |
Level 1 |
Level 2 |
Level 3 |
Total |
||||||||||||
Long-Term Investments: |
||||||||||||||||
Municipal Bonds |
$ | – | $ | 692,605,847 | $ | – | $ | 692,605,847 | ||||||||
Common Stocks |
– | – | 6,149,799 | 6,149,799 | ||||||||||||
Total |
$ | – | $ | 692,605,847 | $ | 6,149,799 | $ | 698,755,646 |
NIM |
NXP |
|||||||
Level 3 |
Level 3 |
|||||||
Common Stocks |
Common Stocks |
|||||||
Balance at the beginning of period |
$- | $- | ||||||
Gains (losses): |
||||||||
Net realized gains (losses) |
- | - | ||||||
Change in net unrealized appreciation (depreciation) |
- | - | ||||||
Purchases at cost |
- | - | ||||||
Sales at proceeds |
- | - | ||||||
Net discounts (premiums) |
- | - | ||||||
Transfers into |
4,187,626 | 6,149,799 | ||||||
Transfers (out of) |
- | - | ||||||
Balance at the end of period |
$4,187,626 | $6,149,799 | ||||||
Change in net unrealized appreciation (depreciation) during the period of Level 3 securities held as of period end |
$(888,815) | $(1,305,282) | ||||||
Fund |
Asset Class |
Market Value |
Techniques |
Unobservable Inputs |
Range |
Weighted Average | ||||||||||||||||||||||||||
NIM |
Common Stocks | $4,187,626 | Enterprise Value | EBITDA Multiples | 9.25-11.25 |
N/A | ||||||||||||||||||||||||||
Fund |
Asset Class |
Market Value |
Techniques |
Unobservable Inputs |
Range |
Weighted Average | ||||||||||||||||||||||||||
NXP |
Common Stocks | $6,149,799 | Enterprise Value | EBITDA Multiples | 9.25-11.25 |
N/A |
4. |
Portfolio Securities |
Fund |
Non-U.S. Government Purchases |
U.S. Government Purchases |
Non-U.S. Government Sales and Maturities |
U.S. Government Sales |
||||||||||||
NIM |
$ | 27,197,763 | $ | 187,515 | $ | 26,227,379 | $ | 2,408 | ||||||||
NXP |
187,092,735 | – | 176,325,175 | – |
5. |
Derivative Investments |
6. |
Fund Shares |
NXP |
||||||||
Year Ended 3/31/24 1 |
Year Ended 3/31/23 |
|||||||
Additional authorized common shares |
14,000,000 | - | ||||||
Common shares sold |
1,101,796 | - | ||||||
Offering proceeds, net of offering costs |
15,928,457 | - |
1 |
Represents additional authorized shares for the period July 5, 2023 through March 31, 2024. |
NIM |
NXP |
|||||||||||||||
Year Ended 3/31/24 |
Year Ended 3/31/23 |
Year Ended 3/31/24 |
Year Ended 3/31/23 |
|||||||||||||
Common Shares: |
||||||||||||||||
Sold through shelf offering |
– | – | 1,101,796 | – | ||||||||||||
Issued to shareholders due to reinvestment of distributions |
– | – | 31,500 | 5,577 | ||||||||||||
Total |
– | – | 1,133,296 | 5,577 | ||||||||||||
Weighted average common share: |
||||||||||||||||
Price per share repurchased and retired |
$- | $- | $14.46 | $- | ||||||||||||
Premium to NAV per shelf offering common share sold |
-% | -% | 0.56% | -% |
7. |
Income Tax Information |
Fund |
Tax Cost |
Gross Unrealized Appreciation |
Gross Unrealized (Depreciation) |
Net Unrealized Appreciation (Depreciation) |
||||||||||||
NIM |
$ | 127,257,484 | $ | 5,281,934 | $ | (4,705,528 | ) | $ | 576,406 | |||||||
NXP |
647,964,929 | 55,222,740 | (4,432,023 | ) | 50,790,717 |
Fund |
Undistributed Tax-Exempt Income 1 |
Undistributed Ordinary Income |
Undistributed Long-Term Capital Gains |
Unrealized Appreciation (Depreciation) |
Capital Loss Carryforwards |
Late-Year Loss Deferrals |
Other Book-to-Tax Differences |
Total |
||||||||||||||||||||||||
NIM |
$ | 344,570 | $ | 13 | $ | 431,431 | $ | 576,406 | $ | – | $ | – | $ | (323,612 | ) | $ | 1,028,808 | |||||||||||||||
NXP |
4,088,345 | 196 | – | 50,790,717 | (22,202,680) | – | (2,323,643 | ) | 30,352,935 |
1 |
Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividend declared on March 1, 2024 and paid on April 1, 2024. |
3/31/24 |
3/31/23 |
|||||||||||||||||||||||
Fund |
Tax-Exempt Income 1 |
Ordinary Income |
Long-Term Capital Gains |
Tax-Exempt Income |
Ordinary Income |
Long-Term Capital Gains |
||||||||||||||||||
NIM |
$ | 3,883,118 | $ | 220 | $ | – | $ | 3,374,517 | $ | 4,735 | $ | – | ||||||||||||
NXP |
27,510,589 | – | – | 25,970,338 | 3,439 | – |
1 | Each Fund designates these amounts paid during the period as Exempt Interest Dividends. |
Fund |
Short-Term |
Long-Term |
Total |
|||||||||
NIM |
$ | – | $ | – | $ | – | ||||||
NXP 1 |
5,876,054 | 16,326,626 | 22,202,680 |
1 |
A portion of NXP’s capital loss carryforwards is subject to a limitation under the Internal Revenue Code and related regulations. |
Fund |
Utilized |
|||
NIM |
$ | 680,298 | ||
NXP |
– |
8. |
Management Fees and Other Transactions with Affiliates |
Average Daily Net Assets* |
NIM Fund-Level Fee Rate |
|||
For the first $125 million |
0.3000 | % | ||
For the next $125 million |
0.2875 | |||
For the next $250 million |
0.2750 | |||
For the next $500 million |
0.2625 | |||
For the next $1 billion |
0.2500 | |||
For the next $3 billion |
0.2250 | |||
For managed assets over $5 billion |
0.2125 | |||
Average Daily Net Assets* |
NXP Fund-Level Fee Rate |
|||
For the first $125 million |
0.0500 | % | ||
For the next $125 million |
0.0375 | |||
For the next $250 million |
0.0250 | |||
For the next $500 million |
0.0125 |
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 |
* | For the complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the 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 a 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 managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen open-end and closed-end funds that constitute ‘’eligible assets.” 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, but do not include certain assets of certain Nuveen funds that were reorganized into funds advised by an affiliate of the Adviser during the 2019 calendar year. As of March 31, 2024, the complex-level fee for each Fund was as follows: |
Fund |
Complex-Level Fee | |
NIM |
0.1600% | |
NXP |
0.1600% |
Fund |
Purchases |
Sales |
Realized Gain (Loss) |
|||||||||
NIM |
$ | – | $ | – | $ | – | ||||||
NXP |
3,892,389 | 5,123,173 | (629,712 | ) |
9. |
Borrowing Arrangements |
Fund |
Maximum Outstanding Balance |
|||
NIM |
$ | – | ||
NXP |
3,860,765 |
Fund |
Utilization Period (Days Outstanding) |
Average Daily Balance Outstanding |
Average Annual Interest Rate |
|||||||||
NIM |
– | $ | – | –% | ||||||||
NXP |
10 | 2,897,671 | 6.46 |
10. |
Subsequent Events |
Complex-Level Asset Breakpoint Level* |
Complex-Level Fee |
|||
For the first $124.3 billion |
0.1600 | % | ||
For the next $75.7 billion |
0.1350 | |||
For the next $200 billion |
0.1325 | |||
For eligible assets over $400 billion |
0.1300 |
* | The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen-branded closed-end funds and Nuveen branded open-end funds (“Nuveen Mutual Funds”). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do not include the net assets of: Nuveen fund-of-funds, closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial 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 a 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. |
· |
The Fund will invest at least 80% of its Managed Assets in municipal securities that, at the time of investment, are rated within the four highest grades (Baa or BBB or better) by at least one nationally recognized statistical rating organization (an “NRSRO”) or are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment grade or are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
No more than 10% of the Fund’s Managed Assets may be invested in municipal securities rated below B3/B- or that are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund may invest up to 20% of its Managed Assets in municipal securities that pay interest that is taxable under the federal alternative minimum tax applicable to individuals (“AMT Bonds”). |
· |
The Fund may invest up to 15%of its Managed Assets in inverse floating rate securities. |
· |
The Fund may invest up to 10% of its Managed Assets in securities of other open- or closed-end investment companies (including exchange-traded funds (“ETFs”)) that invest primarily in municipal securities of the types in which the Fund may invest directly. |
· |
The Fund will invest at least 80% of its Managed Assets in municipal securities that, at the time of investment, are rated within the four highest grades (Baa or BBB or better) by at least one nationally recognized statistical rating organization (an “NRSRO”) or are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment grade or are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
No more than 10% of the Fund’s Managed Assets may be invested in municipal securities rated below B3/B- or that are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund may invest up to 20% of its Managed Assets in municipal securities that pay interest that is taxable under the federal alternative minimum tax applicable to individuals (“AMT Bonds”). |
· |
The Fund may invest up to 15%of its Managed Assets in inverse floating rate securities. |
· |
The Fund may invest up to 10% of its Managed Assets in securities of other open- or closed-end investment companies (including exchange-traded funds (“ETFs”)) that invest primarily in municipal securities of the types in which the Fund may invest directly. |
· |
The Fund will generally maintain an investment portfolio with an overall weighted average maturity of less than 15 years. |
· |
The Fund will invest at least 80% of its Managed Assets in municipal securities and other related investments that, at the time of investment, are rated within the four highest grades (BBB or Baa or better) by at least one NRSRO that rate such security (even if it is rated lower by another NRSRO) or are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment grade or are unrated by any NRSRO but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
No more than 10% of the Fund’s Managed Assets may be invested in municipal securities rated below B3/B- or that are unrated but judged to be of comparable quality by the Fund’s sub-adviser. |
· |
The Fund will not invest more than 25% of its Managed Assets in municipal securities in any one industry or in any one state of origin. |
· |
The Fund may not enter into futures contracts or related options or forward contracts, if more than 30% of its Managed Assets would be represented by futures contracts or more than 5% of its Managed Assets would be committed to initial margin deposits and premiums on futures contracts and related options. |
· |
The Fund may invest up to 15% of its Managed Assets in inverse floating rate securities. |
· |
The Fund may invest up to 10% of its Managed Assets in securities of other open- or closed-end investment companies (including ETFs) that invest primarily in municipal securities of the types in which the Fund may invest directly. |
· |
The Fund will generally maintain an investment portfolio with an overall weighted average maturity of greater than 10 years. |
Risk |
NIM |
NXP | ||
Portfolio Level Risks |
||||
Alternative Minimum Tax Risk |
X | X | ||
Below Investment Grade Risk |
X | X | ||
Call Risk |
X | X | ||
Credit Risk |
X | X | ||
Credit Spread Risk |
X | X | ||
Defaulted or Distressed Securities Risk |
X | X | ||
Deflation Risk |
X | X | ||
Derivatives Risk |
X | X | ||
Duration Risk |
X | X | ||
Economic Sector Risk |
X | X | ||
Financial Futures and Options Transactions Risk |
X | X | ||
Hedging Risk |
X | X | ||
Illiquid Investments Risk |
X | X | ||
Income Risk |
X | X | ||
Inflation Risk |
X | X | ||
Insurance Risk |
X | X | ||
Interest Rate Risk |
X | X | ||
Inverse Floating Rate Securities Risk |
X | X | ||
Municipal Securities Market Liquidity Risk |
X | X | ||
Municipal Securities Market Risk |
X | X | ||
Other Investment Companies Risk |
X | X | ||
Puerto Rico Municipal Securities Market Risk |
X | X | ||
Reinvestment Risk |
X | X | ||
Special Risks Related to Certain Municipal Obligations |
X | X | ||
Swap Transactions Risk |
X | X | ||
Tax Risk |
X | X | ||
Taxability Risk |
X | X | ||
Tobacco Settlement Bond Risk |
X | X | ||
Unrated Securities Risk |
X | X | ||
Valuation Risk |
X | X | ||
Zero Coupon Bonds Risk |
X | X |
Risk |
NIM |
NXP | ||
Fund Level and Other Risks |
||||
Anti-Takeover Provisions |
X | X | ||
Counterparty Risk |
X | X | ||
Cybersecurity Risk |
X | X | ||
Economic and Political Events Risk |
X | X | ||
Fund Tax Risk |
X | X | ||
Global Economic Risk |
X | X | ||
Investment and Market Risk |
X | X | ||
Legislation and Regulatory Risk |
X | X | ||
Market Discount from Net Asset Value |
X | X | ||
Recent Market Conditions |
X | X |
· |
If the Fund has a need for cash and the securities in a special purpose trust are not actively trading due to adverse market conditions; |
· |
If special purpose trust sponsors (as a collective group or individually) experience financial hardship and consequently seek to terminate their respective outstanding special purpose trusts; and |
· |
If the value of an underlying security declines significantly and if additional collateral has not been posted by the Fund. |
Shareholder Transaction Expenses |
||||
Maximum Sales Charge ( |
||||
Dividend Reinvestment Plan Fees (2) |
$ |
(1) | The maximum sales charge for offerings made at-the-market at-the-market, |
(2) | You will be charged a $2.50 service charge and pay brokerage charges if you direct Computershare Inc. and Computershare Trust Company, N.A., as agent for the common shareholders, to sell your Common Shares held in a dividend reinvestment account. |
Annual Expenses ( |
||||
Management Fees |
||||
Interest and Other Related Expenses (2) |
||||
Other Expenses (3) |
||||
Total Annual Expenses |
(1) | Stated as percentages of average net assets attributable to Common Shares for the fiscal year ended March 31, 2024. |
(2) | sub-advisor(s). |
(3) |
1 Year |
3 Years |
5 Years |
10 Years |
|||||||||||||
$ |
$ |
$ |
$ |
Market Price |
NAV |
Premium/(Discount) to NAV |
||||||||||||||||||||||
Fiscal Quarter End |
High |
Low |
High |
Low |
High |
Low |
||||||||||||||||||
March 2024 |
$ |
$ |
$ |
$ |
( |
|||||||||||||||||||
December 2023 |
$ |
$ |
$ |
$ |
( |
|||||||||||||||||||
September 2023 |
$ |
$ |
$ |
$ |
( |
|||||||||||||||||||
June 2023 |
$ |
$ |
$ |
$ |
( |
|||||||||||||||||||
March 2023 |
$ |
$ |
$ |
$ |
( |
|||||||||||||||||||
December 2022 |
$ |
$ |
$ |
$ |
( |
( |
||||||||||||||||||
September 2022 |
$ |
$ |
$ |
$ |
( |
( |
||||||||||||||||||
June 2022 |
$ |
$ |
$ |
$ |
( |
( |
March 31, 2024 |
||||
NAV per Common Share |
$ |
|||
Market Price |
$ |
|||
Percentage of Premium/(Discount) to NAV per Common Share |
( |
|||
Net Assets Attributable to Common Shares |
$ 702,328,149 |
|||
Fund |
Net Long-Term Capital Gains |
|||
NIM |
$– | |||
NXP |
– | |||
Board of Trustees |
||||||||||||
Joseph A. Boateng | Michael A. Forrester | Thomas J. Kenny | Amy B.R. Lancellotta | Joanne T. Medero | Albin F. Moschner | John K. Nelson | ||||||
Loren M. Starr | Matthew Thornton III | Terence J. Toth | Margaret L. Wolff | Robert L. Young |
Investment Adviser Nuveen Fund Advisors, LLC 333 West Wacker Drive Chicago, IL 60606 |
Custodian State Street Bank & Trust Company One Congress Street Suite 1 Boston, MA 02114-2016 |
Legal Counsel Chapman and Cutler LLP Chicago, IL 60603 |
Independent Registered Public Accounting Firm KPMG LLP 200 East Randolph Street Chicago, IL 60601 |
Transfer Agent and Shareholder Services 150 Royall Street Canton, MA 02021 (800) 257-8787 |
NIM |
NXP |
|||||||||||
Common shares repurchased |
0 | 0 | ||||||||||
Name, Year of Birth & Address |
Position(s) Held with the Funds |
Year First Elected or Appointed and Term (1) |
Principal Occupation(s) Including other Directorships During Past 5 Years |
Number of Portfolios in Fund Complex Overseen By Board Member | ||||
Independent Trustees: | ||||||||
Terence J. Toth 1959 333 W. Wacker Drive Chicago, IL 60606 |
Co-Chair and Board Member |
2008 Class II |
Formerly, a Co-Founding Partner, Promus Capital (investment advisory firm) (2008-2017); formerly, Director, Quality Control Corporation (manufacturing) (2012-2021); Chair and Member of the Board of Directors (since 2021), Kehrein Center for the Arts (philanthropy); Member of the Board of Directors (since 2008), Catalyst Schools of Chicago (philanthropy); Member of the Board of Directors (since 2012), formerly, Investment Committee Chair (2017-2022), Mather Foundation Board (philanthropy); formerly, Member (2005-2016), Chicago Fellowship Board (philanthropy); formerly, Director, Fulcrum IT Services LLC (information technology services firm to government entities) (2010-2019); formerly, Director, LogicMark LLC (health services) (2012-2016); formerly, Director, Legal & General Investment Management America, Inc. (asset management) (2008-2013); formerly, CEO and President, Northern Trust Global Investments (financial services) (2004-2007); Executive Vice President, Quantitative Management & Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (financial services) (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). | 216 | ||||
Joseph A. Boateng 1963 730 Third Avenue New York, NY 10017 |
Board Member | 2024 Class II |
Chief Investment Officer, Casey Family Programs (since 2007); formerly, Director of U.S. Pension Plans, Johnson & Johnson (2002-2006); Board Member, Lumina Foundation (since 2019) and Waterside School (since 2021); Board Member (2012-2019) and Emeritus Board Member (since 2020), Year-Up Puget Sound; Investment Advisory Committee Member and Former Chair (since 2007), Seattle City Employees’ Retirement System; Investment Committee Member (since 2019), The Seattle Foundation; Trustee (2018-2023), the College Retirement Equities Fund; Manager (2019-2023), TIAA Separate Account VA-1. |
210 | ||||
Michael A. Forrester 1967 730 Third Avenue New York, NY 10017 |
Board Member | 2024 Class I |
Formerly, Chief Executive Officer (2014-2021) and Chief Operating Officer (2007-2014), Copper Rock Capital Partners, LLC; Trustee, Dexter Southfield School (since 2019); Member (since 2020), Governing Council of the Independent Directors Council (IDC); Trustee, the College Retirement Equities Fund and Manager, TIAA Separate Account VA-1 (2007-2023). |
210 |
Name, Year of Birth & Address |
Position(s) Held with the Funds |
Year First Elected or Appointed and Term (1) |
Principal Occupation(s) Including other Directorships During Past 5 Years |
Number of Portfolios in Fund Complex Overseen By Board Member | ||||
Thomas J. Kenny 1963 730 Third Avenue New York, NY 10017 |
Co-Chair and Board Member |
2024 Class I | Formerly, Advisory Director (2010-2011), Partner (2004-2010), Managing Director (1999-2004) and Co-Head of Global Cash and Fixed Income Portfolio Management Team (2002-2010), Goldman Sachs Asset Management; Director (since 2015) and Chair of the Finance and Investment Committee (since 2018), Aflac Incorporated; Director (since 2018), ParentSquare; formerly, Director (2021-2022) and Finance Committee Chair (2016-2022), Sansum Clinic; formerly, Advisory Board Member (2017-2019), B’Box; formerly, Member (2011-2012), the University of California at Santa Barbara Arts and Lectures Advisory Council; formerly, Investment Committee Member (2012-2020), Cottage Health System; formerly, Board member (2009-2019) and President of the Board (2014-2018), Crane Country Day School; Trustee (2011- 2023) and Chairman (2017-2023), the College Retirement Equities Fund; Manager (2011-2023) and Chairman (2017-2023), TIAA Separate Account VA-1. |
216 | ||||
Amy B. R. Lancellotta 1959 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2021 Class II | Formerly, Managing Director, IDC (supports the fund independent director community and is part of the Investment Company Institute (ICI), which represents regulated investment companies) (2006-2019); formerly, various positions with ICI (1989-2006); President (since 2023) and Member (since 2020) of the Board of Directors, Jewish Coalition Against Domestic Abuse (JCADA). | 216 | ||||
Joanne T. Medero 1954 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2021 Class III | Formerly, Managing Director, Government Relations and Public Policy (2009-2020) and Senior Advisor to the Vice Chairman (2018- 2020), BlackRock, Inc. (global investment management firm); formerly, Managing Director, Global Head of Government Relations and Public Policy, Barclays Group (IBIM) (investment banking, investment management and wealth management businesses) (2006-2009); formerly, Managing Director, Global General Counsel and Corporate Secretary, Barclays Global Investors (global investment management firm) (1996-2006); formerly, Partner, Orrick, Herrington & Sutcliffe LLP (law firm) (1993-1995); formerly, General Counsel, Commodity Futures Trading Commission (government agency overseeing U.S. derivatives markets) (1989-1993); formerly, Deputy Associate Director/Associate Director for Legal and Financial Affairs, Office of Presidential Personnel, The White House (1986-1989); Member of the Board of Directors, Baltic-American Freedom Foundation (seeks to provide opportunities for citizens of the Baltic states to gain education and professional development through exchanges in the U.S.) (since 2019). | 216 | ||||
Albin F. Moschner 1952 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2016 Class III | Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019), USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc. (consumer wireless services), 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 (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996) including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics). | 216 |
Name, Year of Birth & Address |
Position(s) Held with the Funds |
Year First Elected or Appointed and Term (1) |
Principal Occupation(s) Including other Directorships During Past 5 Years |
Number of Portfolios in Fund Complex Overseen By Board Member | ||||
John K. Nelson 1962 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2013 Class II | Formerly, Member of Board of Directors of Core12 LLC (2008-2023) (private firm which develops branding, marketing and communications strategies for clients); formerly, Member of The President’s Council of Fordham University (2010-2019); formerly, 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, Trustee and Chairman of the Board of Trustees of Marian University (2011-2013); formerly Chief Executive Officer of ABN AMRO Bank N.V., North America, and Global Head of the Financial Markets Division (2007-2008), with various executive leadership roles in ABN AMRO Bank N.V. between 1996 and 2007. | 216 | ||||
Loren M. Starr 1961 730 Third Avenue New York, NY 10017 |
Board Member | 2024 Class III | Independent Consultant/Advisor (since 2021); formerly, Vice Chair, Senior Managing Director (2020-2021), Chief Financial Officer, Senior Managing Director (2005-2020), Invesco Ltd.; Director (since 2023) and Audit Committee member (since 2024), AMG; formerly, Chair and Member of the Board of Directors (2014-2021), Georgia Leadership Institute for School Improvement (GLISI); formerly, Chair and Member of the Board of Trustees (2014-2018), Georgia Council on Economic Education (GCEE); Trustee, the College Retirement Equities Fund and Manager, TIAA Separate Account VA-1 (2022-2023). |
215 | ||||
Matthew Thornton III 1958 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2020 Class III | Formerly, Executive Vice President and Chief Operating Officer (2018-2019), FedEx Freight Corporation, a subsidiary of FedEx Corporation (FedEx) (provider of transportation, e-commerce and business services through its portfolio of companies); formerly, Senior Vice President, U.S. Operations (2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly Member of the Board of Directors (2012-2018), Safe Kids Worldwide® (a non-profit organization dedicated to preventing childhood injuries). Member of the Board of Directors (since 2014), The Sherwin-Williams Company (develops, manufactures, distributes and sells paints, coatings and related products); Director (since 2020), Crown Castle International (provider of communications infrastructure). |
216 | ||||
Margaret L. Wolff 1955 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2016 Class I | 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) (legal services) (2005- 2014); Member of the Board of Trustees of New York-Presbyterian Hospital (since 2005); Member of the Board of Trustees (since 2004) formerly, Chair (2015-2022) 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. | 216 | ||||
Robert L. Young 1963 333 W. Wacker Drive Chicago, IL 60606 |
Board Member | 2017 Class I | Formerly, Chief Operating Officer and Director, J.P. Morgan Investment Management Inc. (financial services) (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. (financial services) (formerly, One Group Dealer Services, Inc.) (1999-2017). | 216 |
Name, Year of Birth & Address |
Position(s) Held with the Funds |
Year First Elected or Appointed (2) |
Principal Occupation(s) Including other Directorships During Past 5 Years |
|||||
Officers of the Funds: | ||||||||
David J. Lamb 1963 333 W. Wacker Drive Chicago, IL 60606 |
Chief Administrative Officer | 2015 | Managing Director of Nuveen Fund Advisors, LLC; Senior Managing Director of Nuveen Securities, LLC; Senior Managing Director of Nuveen; has previously held various positions with Nuveen. | |||||
Brett E. Black 1972 333 W. Wacker Drive Chicago, IL 60606 |
Vice President and Chief Compliance Officer | 2022 | Managing Director, Chief Compliance Officer of Nuveen; formerly, Vice President (2014-2022), Chief Compliance Officer and Anti-Money Laundering Compliance Officer (2017-2022) of BMO Funds, Inc. | |||||
Mark J. Czarniecki 1979 901 Marquette Avenue Minneapolis, MN 55402 |
Vice President and Assistant Secretary | 2013 | Managing Director and Assistant Secretary of Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Managing Director and Associate General Counsel of Nuveen; Managing Director Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC; has previously held various positions with Nuveen; Managing Director, Associate General Counsel and Assistant Secretary of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC. | |||||
Jeremy D. Franklin 1983 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2024 | Managing Director and Assistant Secretary, Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary, Nuveen Asset Management, LLC, Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC; Vice President and Associate General Counsel, Teachers Insurance and Annuity Association of America; Vice President and Assistant Secretary, TIAA-CREF Funds and TIAA-CREF Life Funds; Vice President, Associate General Counsel, and Assistant Secretary, TIAA Separate Account VA-1 and College Retirement Equities Fund. | |||||
Diana R. Gonzalez 1978 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2017 | Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC; Vice President, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC, Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC; Vice President and Associate General Counsel of Nuveen. | |||||
Nathaniel T. Jones 1979 333 W. Wacker Drive Chicago, IL 60606 |
Vice President and Treasurer | 2016 | Senior Managing Director of Nuveen; Senior Managing Director of Nuveen Fund Advisors, LLC; has previously held various positions with Nuveen; Chartered Financial Analyst. | |||||
Brian H. Lawrence 1982 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2023 | Vice President and Associate General Counsel of Nuveen; Vice President, Associate General Counsel and Assistant Secretary of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC; formerly Corporate Counsel of Franklin Templeton (2018-2022). | |||||
Tina M. Lazar 1961 333 W. Wacker Drive Chicago, IL 60606 |
Vice President | 2002 | Managing Director of Nuveen Securities, LLC. | |||||
Brian J. Lockhart 1974 333 W. Wacker Drive Chicago, IL 60606 |
Vice President | 2019 | Senior Managing Director and Head of Investment Oversight of Nuveen; Senior Managing Director of Nuveen Fund Advisors, LLC; has previously held various positions with Nuveen; Chartered Financial Analyst and Certified Financial Risk Manager. | |||||
John M. McCann 1975 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2022 | Managing Director, General Counsel and Secretary of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management, LLC; Managing Director and Assistant Secretary of TIAA SMA Strategies LLC; Managing Director, Associate General Counsel and Assistant Secretary of College Retirement Equities Fund, TIAA Separate Account VA-1, TIAA- CREF Funds, TIAA-CREF Life Funds, Teachers Insurance and Annuity Association of America, Teacher Advisors LLC, TIAA-CREF Investment Management, LLC, and Nuveen Alternative Advisors LLC; has previously held various positions with Nuveen/TIAA. |
Name, Year of Birth & Address |
Position(s) Held with the Funds |
Year First Elected or Appointed (2) |
Principal Occupation(s) Including other Directorships During Past 5 Years |
|||||
Kevin J. McCarthy 1966 333 W. Wacker Drive Chicago, IL 60606 |
Vice President and Assistant Secretary | 2007 | Executive Vice President, Secretary and General Counsel of Nuveen Investments, Inc.; Executive Vice President and Assistant Secretary of Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Executive Vice President and Secretary of Nuveen Asset Management, LLC; Executive Vice President, General Counsel and Secretary of Teachers Advisors, LLC, TIAA-CREF Investment Management, LLC and Nuveen Alternative Investments, LLC; Executive Vice President, Associate General Counsel and Assistant Secretary of TIAA-CREF Funds and TIAA-CREF Life Funds; has previously held various positions with Nuveen; Vice President and Secretary of Winslow Capital Management, LLC; formerly, Vice President (2007-2021) and Secretary (2016-2021) of NWQ Investment Management Company, LLC and Santa Barbara Asset Management, LLC. | |||||
Jon Scott Meissner 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2019 | Managing Director, Mutual Fund Tax and Expense Administration of Nuveen, TIAA-CREF Funds, TIAA-CREF Life Funds, TIAA Separate Account VA-1 and the CREF Accounts; Managing Director of Nuveen Fund Advisors, LLC, Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC; has previously held various positions with TIAA. | |||||
James Nelson III 1976 730 Third Avenue New York, NY 10017 |
Vice President | 2024 | Senior Managing Director, Global Head of Product, Publics, Nuveen; formerly, Head of North American Product Management & Pricing, Invesco (2018-2023). | |||||
Mary Beth Ramsay 1965 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President | 2024 | Chief Risk Officer, Nuveen and TIAA Financial Risk; Head of Nuveen Risk & Compliance; Executive Vice President, Teachers Insurance and Annuity Association of America; Executive Vice President, Risk, TIAA Separate Account VA-1 and the College Retirement Equities Fund; formerly, Senior Vice President, Head of Sales and Client Solutions (2019-2022) and U.S. Chief Pricing Actuary (2016-2019), SCOR Global Life Americas; Member of the Board of Directors of Society of Actuaries. | |||||
William A. Siffermann 1975 333 W. Wacker Drive Chicago, IL 60606 |
Vice President | 2017 | Managing Director of Nuveen. | |||||
E. Scott Wickerham 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Controller | 2019 | Senior Managing Director, Head of Public Investment Finance of Nuveen; Senior Managing Director of Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer of the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and the CREF Accounts; has previously held various positions with TIAA. | |||||
Mark L. Winget 1968 333 W. Wacker Drive Chicago, IL 60606 |
Vice President and Secretary | 2008 | Vice President and Assistant Secretary of Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Vice President, Associate General Counsel and Assistant Secretary of Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC and Nuveen Asset Management, LLC; Vice President and Associate General Counsel of Nuveen. | |||||
Rachael Zufall 1973 8500 Andrew Carnegie Blvd. Charlotte, NC 28262 |
Vice President and Assistant Secretary | 2022 | Managing Director and Assistant Secretary of Nuveen Fund Advisors, LLC; Managing Director, Associate General Counsel and Assistant Secretary of the CREF Accounts, TIAA Separate Account VA-1, TIAA-CREF Funds and TIAA-CREF Life Funds; Managing Director, Associate General Counsel and Assistant Secretary of Teacher Advisors, LLC and TIAA-CREF Investment Management, LLC; Managing Director of Nuveen, LLC and of TIAA. |
(1) | Board Members 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) | 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. |
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. Upon request, a copy of the registrant’s code of ethics is available without charge by calling 800-257-8787.
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 Joseph A. Boateng, Albin F. Moschner, John K. Nelson, Loren M. Starr and Robert L. Young, who are “independent” for purposes of Item 3 of Form N-CSR.
Mr. Boateng has served as the Chief Investment Officer for Casey Family Programs since 2007. He was previously Director of U.S. Pension Plans for Johnson & Johnson from 2002-2006. Mr. Boateng is a board member of the Lumina Foundation and Waterside School, an emeritus board member of Year Up Puget Sound, member of the Investment Advisory Committee and former Chair for the Seattle City Employees’ Retirement System, and an Investment Committee Member for The Seattle Foundation. Mr. Boateng previously served on the Board of Trustees for the College Retirement Equities Fund (2018-2023) and on the Management Committee for TIAA Separate Account VA-1 (2019-2023).
Mr. Moschner is a consultant in the wireless industry and, in July 2012, founded Northcroft Partners, LLC, a management consulting firm that provides operational, management and governance solutions. Prior to founding Northcroft Partners, LLC, Mr. Moschner held various positions at Leap Wireless International, Inc., a provider of wireless services, where he was as a consultant from February 2011 to July 2012, Chief Operating Officer from July 2008 to February 2011, and Chief Marketing Officer from August 2004 to June 2008. Before he joined Leap Wireless International, Inc., Mr. Moschner was President of the Verizon Card Services division of Verizon Communications, Inc. from 2000 to 2003, and President of One Point Services at One Point Communications from 1999 to 2000. Mr. Moschner also served at Zenith Electronics Corporation as Director, President and Chief Executive Officer from 1995 to 1996, and as Director, President and Chief Operating Officer from 1994 to 1995.
Mr. Nelson formerly served on the Board of Directors of Core12, LLC from 2008 to 2023, a private firm which develops branding, marketing, and communications strategies for clients. Mr. Nelson has extensive experience in global banking and markets, having served in several senior executive positions with ABN AMRO Holdings N.V. and its affiliated entities and predecessors, including LaSalle Bank Corporation from 1996 to 2008, ultimately serving as Chief Executive Officer of ABN AMRO N.V. North America. During his tenure at the bank, he also served as Global Head of its Financial Markets Division, which encompassed the bank’s Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses. He was a member of the Foreign Exchange Committee of the Federal Reserve Bank of the United States and during his tenure with ABN AMRO served as the bank’s representative on various committees of The Bank of Canada, European Central Bank, and The Bank of England. Mr. Nelson previously served as a senior, external advisor to the financial services practice of Deloitte Consulting LLP. (2012-2014).
Mr. Starr was Vice Chair, Senior Managing Director from 2020 to 2021, and Chief Financial Officer, Senior Managing Director from 2005 to 2020, for Invesco Ltd. Mr. Starr is also a Director and member of the Audit Committee for AMG. He is former Chair and member of the Board of Directors, Georgia Leadership Institute for School Improvement (GLISI); former Chair and member of the Board of Trustees, Georgia Council on Economic Education (GCEE). Mr. Starr previously served on the Board of Trustees for the College Retirement Equities Fund and on the Management Committee for TIAA Separate Account VA-1 (2022-2023).
Mr. Young has more than 30 years of experience in the investment management industry. From 1997 to 2017, he held various positions with J.P. Morgan Investment Management Inc. (“J.P. Morgan Investment”) and its affiliates (collectively, “J.P. Morgan”). Most recently, he served as Chief Operating Officer and Director of J.P. Morgan Investment (from 2010 to 2016) and as President and Principal Executive Officer of the J.P. Morgan Funds (from 2013 to 2016). As Chief Operating Officer of J.P. Morgan Investment, Mr. Young led service, administration and business platform support activities for J.P. Morgan’s domestic retail mutual fund and institutional commingled and separate account businesses, and co-led these activities for J.P. Morgan’s global retail and institutional investment management businesses. As President of the J.P. Morgan Funds, Mr. Young interacted with various service providers to these funds, facilitated the relationship between such funds and their boards, and was directly involved in establishing board agendas, addressing regulatory matters, and establishing policies and procedures. Before joining J.P. Morgan, Mr. Young, a former Certified Public Accountant (CPA), was a Senior Manager (Audit) with Deloitte & Touche LLP (formerly, Touche Ross LLP), where he was employed from 1985 to 1996. During his tenure there, he actively participated in creating, and ultimately led, the firm’s midwestern mutual fund practice.
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Nuveen Select Tax-Free Income Portfolio
The following tables show the amount of fees that KPMG LLP, the Fund’s auditor, billed to the Fund during the Fund’s last two full fiscal years. For engagements with KPMG LLP the Audit Committee approved in advance all audit services and non-audit services that KPMG LLP provided to the Fund, 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 pre-approval exception for services provided directly to the Fund 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 Fund to its accountant during the fiscal year in which the services are provided; (B) the Fund 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 Chair (or, in his absence, any other member of the Audit Committee).
Fiscal Year Ended |
Audit Fees Billed to Fund 1 |
Audit-Related Fees Billed to Fund 2 |
Tax Fees Billed to Fund 3 |
All Other Fees Billed to Fund 4 |
||||||||||||
March 31, 2024 |
$ | 26,600 | $ | 9,000 | $ | 0 | $ | 0 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Percentage approved pursuant to pre-approval exception |
0 | % | 0 | % | 0 | % | 0 | % | ||||||||
|
|
|
|
|
|
|
|
|||||||||
March 31, 2023 |
$ | 28,000 | $ | 0 | $ | 0 | $ | 0 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Percentage approved pursuant to pre-approval exception |
0 | % | 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 calculation 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.
SERVICES THAT THE FUND’S AUDITOR BILLED TO THE
ADVISER AND AFFILIATED FUND SERVICE PROVIDERS
The following tables show the amount of fees billed by KPMG LLP to Nuveen Fund Advisors, LLC (formerly Nuveen Fund Advisors, Inc.) (the “Adviser”), and any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (“Affiliated Fund Service Provider”), for engagements directly related to the Fund’s operations and financial reporting, during the Fund’s last two full fiscal years.
The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid to KPMG LLP by the Fund, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-approved by the Audit Committee; (B) the Fund 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 Fund’s audit is completed.
Fiscal Year Ended |
Total Non-Audit Fees Billed to Fund |
Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund) |
Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) |
Total | ||||||||||||
March 31, 2024 |
$ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
March 31, 2023 |
$ | 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.
NON-AUDIT SERVICES
The following table shows the amount of fees that KPMG LLP billed during the Fund’s last two full fiscal years for non-audit services. The Audit Committee is required to pre-approve non- audit services that KPMG LLP provides to the Adviser and any Affiliated Fund Services Provider, if the engagement related directly to the Fund’s operations and financial reporting (except for those subject to the pre-approval exception described above). The Audit Committee requested and received information from KPMG LLP about any non-audit services that KPMG LLP rendered during the Fund’s last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating KPMG LLP’s independence.
Fiscal Year Ended |
Total Non-Audit Fees Billed to Fund |
Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (engagements related directly to the operations and financial reporting of the Fund) |
Total Non-Audit Fees billed to Adviser and Affiliated Fund Service Providers (all other engagements) |
Total | ||||||||||||
March 31, 2023 |
$ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||
March 31, 2022 |
$ | 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.
Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Fund by the Fund’s independent accountants and (ii) all audit and non-audit services to be performed by the Fund’s independent accountants for the Affiliated Fund Service Providers with respect to operations and financial reporting of the Fund. Regarding tax and research projects conducted by the independent accountants for the Fund and Affiliated Fund Service Providers (with respect to operations and financial reports of the Fund) 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 chair 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 4(i) and Item 4(j) are not applicable to the registrant.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
The registrant’s Board has a separately designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78c(a)(58)(A)). The members of the audit committee are Joseph A. Boateng, Albin F. Moschner, John K. Nelson, Chair, Loren M. Starr, Margaret L. Wolff and Robert L. Young.
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. |
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Nuveen Fund Advisors, LLC is the registrant’s investment adviser (also referred to as the “Adviser”). The Adviser is responsible for the selection and on-going monitoring of the Fund’s investment portfolio, managing the Fund’s business affairs and providing certain clerical, bookkeeping and administrative services. The Adviser has engaged Nuveen Asset Management, LLC (“Nuveen Asset Management” or “Sub-Adviser”) as Sub-Adviser to provide discretionary investment advisory services. The following section provides information on the portfolio managers at the Sub-Adviser:
ITEM 8(a)(1). | PORTFOLIO MANAGER BIOGRAPHIES |
As of the date of filing this report, the following individuals at the Sub-Adviser (the “Portfolio Managers”) have primary responsibility for the day-to-day implementation of the registrant’s investment strategies:
Michael Hamilton, Managing Director, manages tax-exempt fixed income portfolios for Nuveen. He began working in the investment industry when he joined the firm in 1989, as a fixed-income fund manager and trader. He became a portfolio manager in 1992. He received a B.A. from the College of Idaho and an M.B.A. from Western Washington University. He is a member of the CFA Institute and the Portland Society of Financial Analysts.
Stephen J. Candido, CFA, Managing Director at Nuveen Asset Management, is a portfolio manager for high yield municipal strategies at Nuveen, managing high yield funds and institutional accounts. He also has responsibility for tax-exempt open-end funds and closed-end funds that allocate to both investment grade and high yield municipals. Stephen started working in the investment industry in 1996 when he joined Nuveen in the Unit Trust Division. Prior to his current role, he was a vice president and senior research analyst specializing in high yield sectors including land secured credits, project finance and housing. Stephen was also an assistant vice president for Nuveen’s Global Structured Products team beginning in 2005. He also served as the manager of the Fixed Income Unit Trust Product Management and Pricing Group starting in 2001 and prior to that held positions as an equity research analyst and fixed income pricing analyst. Stephen graduated with a B.S. in Finance from Miami University and an M.B.A. in Finance from the University of Illinois at Chicago. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago.
ITEM 8(a)(2). | OTHER ACCOUNTS MANAGED BY PORTFOLIO MANAGERS |
Other Accounts Managed. In addition to managing the registrant, the Portfolio Managers are also primarily responsible for the day-to-day portfolio management of the following accounts:
Portfolio Manager |
Type of Account Managed |
Number of Accounts |
Assets* | |||||
Michael Hamilton |
Registered Investment Company | 18 | $15.87 billion | |||||
Other Pooled Investment Vehicles | 0 | $0 | ||||||
Other Accounts | 3 | $198.32 million | ||||||
Stephen J. Candido |
Registered Investment Company | 28 | $53.32 billion | |||||
Other Pooled Investment Vehicles | 2 | $514.13 million | ||||||
Other Accounts | 5 | $267.79 million |
* Assets are as of March 31, 2024. None of the assets in these accounts are subject to an advisory fee based on performance.
POTENTIAL MATERIAL CONFLICTS OF INTEREST
Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one account. More specifically, portfolio managers who manage multiple accounts are presented a number of potential conflicts, including, among others, those discussed below.
The management of multiple accounts may result in a portfolio manager devoting unequal time and attention to the management of each account. Nuveen Asset Management seeks to manage such competing interests for the time and attention of portfolio managers by having portfolio managers focus on a particular investment discipline. Most accounts managed by a portfolio manager in a particular investment strategy are managed using the same investment models.
If a portfolio manager identifies a limited investment opportunity which may be suitable for more than one account, an account may not be able to take full advantage of that opportunity due to an allocation of filled purchase or sale orders across all eligible accounts. To deal with these situations, Nuveen Asset Management has adopted procedures for allocating limited opportunities across multiple accounts.
With respect to many of its clients’ accounts, Nuveen Asset Management determines which broker to use to execute transaction orders, consistent with its duty to seek best execution of the transaction. However, with respect to certain other accounts, Nuveen Asset Management may be limited by the client with respect to the selection of brokers or may be instructed to direct trades through a particular broker. In these cases, Nuveen Asset Management may place separate, non-simultaneous, transactions for a Fund and other accounts which may temporarily affect the market price of the security or the execution of the transaction, or both, to the detriment of the Fund or the other accounts.
Some clients are subject to different regulations. As a consequence of this difference in regulatory requirements, some clients may not be permitted to engage in all the investment techniques or transactions or to engage in these transactions to the same extent as the other accounts managed by a portfolio manager. Finally, the appearance of a conflict of interest may arise where Nuveen Asset Management has an incentive, such as a performance-based management fee, which relates to the management of some accounts, with respect to which a portfolio manager has day-to-day management responsibilities.
Conflicts of interest may also arise when the Sub-Adviser invests one or more of its client accounts in different or multiple parts of the same issuer’s capital structure, including investments in public versus private securities, debt versus equity, or senior versus junior/subordinated debt, or otherwise where there are different or inconsistent rights or benefits. Decisions or actions such as investing, trading, proxy voting, exercising, waiving or amending rights or covenants, workout activity, or serving on a board, committee or other involvement in governance may result in conflicts of interest between clients holding different securities or investments. Generally, individual portfolio managers will seek to act in a manner that they believe serves the best interest of the accounts they manage. In cases where a portfolio manager or team faces a conflict among its client accounts, it will seek to act in a manner that it believes best reflects its overall fiduciary duty, which may result in relative advantages or disadvantages for particular accounts.
Nuveen Asset Management has adopted certain compliance procedures which are designed to address these types of conflicts common among investment managers. However, there is no guarantee that such procedures will detect each and every situation in which a conflict arises.
Nuveen Asset Management or its affiliates, including TIAA, sponsor an array of financial products for retirement and other investment goals, and provide services worldwide to a diverse customer base. Accordingly, from time to time, a Fund may be restricted from purchasing or selling securities, or from engaging in other investment activities because of regulatory, legal or contractual restrictions that arise due to another client account’s investments and/or the internal policies of Nuveen Asset Management, TIAA or its affiliates designed to comply with such restrictions. As a result, there may be periods, for example, when Nuveen Asset Management will not initiate or recommend certain types of transactions in certain securities or instruments with respect to which investment limits have been reached.
The investment activities of Nuveen Asset Management or its affiliates may also limit the investment strategies and rights of the Funds. For example, in certain circumstances where the Funds invest in securities issued by companies that operate in certain regulated industries, in certain emerging or international markets, or are subject to corporate or regulatory ownership definitions, or invest in certain futures and derivative transactions, there may be limits on the aggregate amount invested by Nuveen Asset Management or its affiliates for the Funds and other client accounts that may not be exceeded without the grant of a license or other regulatory or corporate consent. If certain aggregate ownership thresholds are reached or certain transactions undertaken, the ability of Nuveen Asset Management, on behalf of the Funds or other client accounts, to purchase or dispose of investments or exercise rights or undertake business transactions may be restricted by regulation or otherwise impaired. As a result, Nuveen Asset Management, on behalf of the Funds or other client accounts, may limit purchases, sell existing investments, or otherwise restrict or limit the exercise of rights (including voting rights) when Nuveen Asset Management, in its sole discretion, deems it appropriate in light of potential regulatory or other restrictions on ownership or other consequences resulting from reaching investment thresholds.
ITEM 8(a)(3). | FUND MANAGER COMPENSATION |
As of the most recently completed fiscal year end, the primary Portfolio Managers’ compensation is as follows:
Portfolio manager compensation consists primarily of base salary and variable components consisting of (i) a cash bonus; (ii) a long-term performance award; and (iii) participation in a profits interest plan.
Base salary. A portfolio manager’s base salary is determined based upon an analysis of the portfolio manager’s general performance, experience and market levels of base pay for such position.
Cash bonus. A portfolio manager is eligible to receive an annual cash bonus that is based on three variables: risk-adjusted investment performance relative to benchmark generally measured over the most recent one, three and five year periods (unless the portfolio manager’s tenure is shorter), ranking versus Morningstar peer funds generally measured over the most recent one, three and five year periods (unless the portfolio manager’s tenure is shorter), and management and peer reviews.
Long-term performance award. A portfolio manager is eligible to receive a long-term performance award that vests after three years. The amount of the award when granted is based on the same factors used in determining the cash bonus. The value of the award at the completion of the three-year vesting period is adjusted based on the risk-adjusted investment performance of Fund(s) managed by the portfolio manager during the vesting period and the performance of the TIAA organization as a whole.
Profits interest plan. Portfolio managers are eligible to receive profits interests in Nuveen Asset Management and its affiliate, Teachers Advisors, LLC, which vest over time and entitle their holders to a percentage of the firms’ annual profits. Profits interests are allocated to each portfolio manager based on such person’s overall contribution to the firms.
There are generally no differences between the methods used to determine compensation with respect to the Fund and the Other Accounts shown in the table above.
ITEM 8(a)(4). | OWNERSHIP OF NXP SECURITIES AS OF MARCH 31, 2024 |
Name of Portfolio Manager |
None | $1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
Over $1,000,000 | |||||||
Michael Hamilton |
X | |||||||||||||
Stephen J. Candido |
X |
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable.
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
ITEM 11. | CONTROLS AND PROCEDURES. |
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the 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 available, upon request and without charge, by calling 800-257-8787 and there were no amendments during the period covered by this report. |
(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: 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. |
(a)(4) Change in the registrant’s independent public accountant. Not applicable. |
(c) Consent of Independent Registered Public Accounting Firm.
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 Select Tax-Free Income Portfolio
By (Signature and Title) | /s/ David J. Lamb | |
David J. Lamb | ||
Chief Administrative Officer |
Date: June 4, 2024
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/ David J. Lamb | |
David J. Lamb | ||
Chief Administrative Officer | ||
(principal executive officer) |
Date: June 4, 2024
By (Signature and Title) | /s/ E. Scott Wickerham | |
E. Scott Wickerham | ||
Vice President and Controller | ||
(principal financial officer) |
Date: June 4, 2024