UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number     811-06548

Nuveen Select Tax-Free Income Portfolio

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

(Address of principal executive offices) (Zip code)

Mark L. Winget

Nuveen Investments

333 West Wacker Drive

Chicago, IL 60606

(Name and address of agent for service)

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

Date of fiscal year end:      March 31

Date of reporting period:     March 31, 2023

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

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

ITEM 1. REPORTS TO STOCKHOLDERS.

Closed-End

Funds

Closed-End

Funds

Nuveen

Municipal

March

31,

2023

Annual

Report

Nuveen

Select

Maturities

Municipal

Fund

NIM

Nuveen

Select

Tax-Free

Income

Portfolio

NXP

2

Table

of

Contents

Chair’s

Letter

to

Shareholders

3

Portfolio

Managers’

Comments

4

Common

Share

Information

7

About

the

Funds’

Benchmarks

9

Performance

Overview

and

Holding

Summaries

10

Report

of

Independent

Registered

Public

Accounting

Firm

15

Portfolios

of

Investments

16

Statement

of

Assets

and

Liabilities

56

Statement

of

Operations

57

Statement

of

Changes

in

Net

Assets

58

Financial

Highlights

60

Notes

to

Financial

Statements

62

Shareholder

Update

71

Important

Tax

Information

87

Additional

Fund

Information

88

Glossary

of

Terms

Used

in

this

Report

89

Board

Members

&

Officers

90

Chair’s

Letter

to

Shareholders

3

Dear

Shareholders,

The

significant

measures

taken

by

the

U.S.

Federal

Reserve

(Fed)

and

other

global

central

banks

over

the

past

year

to

contain

inflation

have

begun

to

take

effect.

From

March

2022

to

May

2023,

the

Fed

raised

the

target

fed

funds

rate

by

5.00%

to

a

range

of

5.00%

to

5.25%,

marking

the

fastest

interest

rate

hiking

cycle

in

its

history.

Across

most

of

the

world,

inflation

rates

have

fallen

from

their

post-pandemic

highs

but

currently

remain

well

above

the

levels

that

central

banks

consider

supportive

of

their

economies’

long-term

growth.

At

the

same

time,

the

U.S.

and

other

large

economies

have

remained

surprisingly

resilient,

even

as

financial

conditions

have

tightened.

Despite

contracting

in

the

first

half

of

2022,

U.S.

gross

domestic

product

grew

2.1%

in

the

year

overall

compared

to

2021

and

expanded

at

a

more

moderate

pace

of

1.1%

in

the

first

quarter

of

2023.

A

relatively

strong

jobs

market

has

helped

support

consumer

sentiment

and

spending

despite

historically

high

inflation.

Markets

are

concerned

that

these

conditions

could

keep

upward

pressure

on

prices

and

wages,

although

the

recent

collapse

of

three

regional

U.S.

banks

(Silicon

Valley

Bank,

Signature

Bank

and

First

Republic

Bank)

and

major

European

bank

Credit

Suisse

is

likely

to

add

further

downward

pressure

to

the

economy

as

the

banking

system

slows

lending

in

response.

Fed

officials

are

closely

monitoring

inflation

data

and

other

economic

measures

to

modify

their

rate

setting

policy

based

upon

these

factors

on

a

meeting-by-meeting

basis.

While

uncertainty

has

increased

given

the

unpredictable

outcome

of

tighter

credit

conditions

on

the

economy,

the

Fed

remains

committed

to

acting

until

it

sees

sustainable

progress

toward

its

inflation

goals.

In

the

meantime,

markets

are

likely

to

continue

reacting

in

the

short

term

to

news

about

inflation

data,

economic

indicators

and

central

bank

policy.

We

encourage

investors

to

keep

a

long-term

perspective

amid

the

short-term

noise.

Your

financial

professional

can

help

you

review

how

well

your

portfolio

is

aligned

with

your

time

horizon,

risk

tolerance

and

investment

goals.  

On

behalf

of

the

other

members

of

the

Nuveen

Fund

Board,

we

look

forward

to

continuing

to

earn

your

trust

in

the

months

and

years

ahead.

Terence

J.

Toth

Chair

of

the

Board

May

22,

2023

4

Portfolio

Managers’

Comments

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

Nuveen

Select

Tax-Free

Income

Portfolio

(NXP)

These

Funds

feature

portfolio

management

by

Nuveen

Asset

Management,

LLC

(NAM),

an

affiliate

of

Nuveen

Fund

Advisors,

LLC,

the

Funds’

investment

adviser.

Portfolio

manager

Paul

L.

Brennan,

CFA

manages

the

Nuveen

Select

Maturities

Municipal

Fund

and

Michael

S.

Hamilton

manages

the

Nuveen

Select

Tax-Free

Income

Portfolio.

Here

the

Funds’

portfolio

managers

review

U.S.

economic

and

market

conditions,

key

investment

strategies

and

the

performance

of

the

Funds

for

the

twelve-month

reporting

period

ended

March

31,

2023.

For

more

information

on

the

Funds’

investment

objectives

and

policies,

please

refer

to

the

Shareholder

Update

section

at

the

end

of

the

report.

What

factors

affected

the

U.S.

economy

and

municipal

markets

during

the

twelve-month

reporting

period

ended

March

31,

2023?

U.S.

economic

growth

continued

to

moderate

amid

high

inflation

and

tightening

financial

conditions

during

the

twelve-month

period

ended

March

31,

2023.

In

the

first

quarter

of

2023,

the

economy

expanded

at

an

annualized

rate

of

1.1%,

according

to

the

preliminary

estimate

from

the

U.S.

Bureau

of

Economic

Analysis,

slowing

from

2.1%

in

2022

overall.

Inflation

remained

persistently

high

through

the

majority

of

the

reporting

period

as

China’s

Zero-COVID

restrictions

(lifted

in

December

2022)

and

the

Russia-

Ukraine

war

worsened

existing

pandemic-related

supply

chain

disruptions

and

drove

food

and

energy

prices

higher.

While

the

U.S.

Federal

Reserve

(Fed)

and

other

global

central

banks

took

aggressive

measures

to

ease

inflation,

and

supply

chains

and

energy

prices

began

to

normalize

toward

the

end

of

the

reporting

period,

inflation

levels

remained

much

higher

than

central

banks’

target

levels.

Beginning

in

March

2022,

the

Fed

raised

its

target

fed

funds

rate

nine

times

during

the

reporting

period,

bringing

it

from

near

zero

at

the

start

of

2022

to

a

range

of

4.75%

to

5.00%

as

of

March

2023.

One

of

the

Fed’s

rate

increases

occurred

in

March

2023,

a

decision

that

was

closely

watched

because

of

the

failure

of

Silicon

Valley

Bank

and

Signature

Bank

during

the

same

month

and

uncertainty

around

the

economic

impact

of

these

failures.

Additionally,

in

March

2023,

Swiss

bank

UBS

agreed

to

buy

Credit

Suisse,

which

had

been

troubled

for

some

time

and

was

considered

to

be

vulnerable

in

the

current

environment.

For

much

of

the

reporting

period,

the

Fed’s

activity

led

to

significant

volatility

in

bond

and

stock

markets.

In

addition,

it

contributed

to

an

increase

in

the

U.S.

dollar’s

value

relative

to

major

world

currencies,

which

acts

as

a

headwind

to

the

profits

of

international

companies

and

U.S.

domestic

companies

with

overseas

earnings.

Global

currency

and

bond

markets

were

further

roiled

in

September

2022

by

an

unpopular

fiscal

spending

proposal

in

the

U.K.

but

recovered

after

the

plans

were

abandoned.

During

the

reporting

period,

elevated

inflation

and

higher

borrowing

costs

weighed

on

some

segments

of

the

economy,

including

the

real

estate

market.

Consumer

spending,

however,

has

remained

more

resilient

than

expected,

in

part

because

of

a

still-strong

labor

market,

another

key

gauge

of

the

economy’s

health.

By

July

2022,

the

economy

had

recovered

the

22

million

jobs

lost

since

the

beginning

of

the

pandemic.

As

of

March

2023,

the

unemployment

rate

remained

near

its

pre-pandemic

low

of

3.5%,

although

monthly

job

growth

appeared

to

be

slowing.

The

strong

labor

market

and

wage

gains

helped

provide

a

measure

of

resilience

to

the

U.S.

economy

in

2022

and

early

2023,

even

as

the

Fed

sought

to

soften

job

growth

to

help

curb

inflation

pressures.

The

broad

municipal

bond

market

was

impacted

by

interest

rate

volatility

and

economic

uncertainty

during

the

reporting

period.

Municipal

yields

rose

across

the

maturity

spectrum,

but

the

move

was

uneven.

The

greatest

increase

in

yields

was

at

the

shorter

end

of

the

curve

as

markets

priced

in

a

more

aggressive

pace

of

monetary

tightening

to

combat

persistently

high

inflation.

Yields

at

the

long

end

of

the

municipal

curve

also

rose

significantly,

but

intermediate

and

intermediate-long

maturities

saw

relatively

smaller

yield

increases.

Overall,

shorter

maturities

generally

outperformed

longer

maturities

during

the

reporting

period.

In

response

to

the

rising

interest

rate

environment

and

heightened

market

volatility,

dealers

reduced

their

inventories

and

investors

increased

redemptions

from

traditional

municipal

bond

mutual

funds.

For

much

of

the

reporting

period,

credit

spreads

were

generally

stable

given

relatively

strong

municipal

fundamentals,

although

there

was

some

widening

as

the

market

sell-off

continued.

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

March

31,

2023?

The

Fund's

primary

investment

objective

is

current

income

exempt

from

regular

federal

income

tax,

consistent

with

the

preservation

of

capital.

Its

secondary

objective

is

the

enhancement

of

portfolio

value.

The

Fund

invests

in

municipal

securities

that

are

exempt

from

federal

income

taxes

and

have

varying

maturities,

targeting

an

overall

intermediate

duration

profile.

The

Fund

may

use

inverse

5

floating

rate

securities

to

more

efficiently

implement

its

investment

strategy

to

create

up

to

10%

effective

leverage.

Inverse

floating

rate

securities,

sometimes

referred

to

as

“inverse

floaters,” are

the

residual

interest

in

a

tender

option

bond

(TOB)

trust.

These

securities

can

be

used

for

a

variety

of

reasons,

including

duration

management,

income

and

total

return

enhancement. NIM

had

no

effective

leverage

during

the

reporting

period.

During

the

reporting

period,

the

Fund’s

trading

activity

remained

focused

on

pursuing

its

investment

objectives.

The

rising

yield

environment

during

this

reporting

period

was

favorable

for

the

Fund

to

reset

embedded

yields

higher

in

its

portfolio,

including

by

executing

on

tax-loss

swap

opportunities.

This

strategy

involves

selling

depreciated

bonds

with

lower

embedded

yields

to

reinvest

in

similarly

structured,

higher

income-producing

bonds

to

support

the

Fund’s

income

earnings

and

capture

tax

efficiencies.

The

Fund

continued

to

carefully

manage

its

maturity

profile,

and

kept

its

overall

duration,

sector

and

credit

quality

positioning

relatively

unchanged

over

this

reporting

period.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

March

31,

2023?

For

the

twelve

months

ended

March

31,

2023,

the

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

underperformed

the

S&P

Municipal

Bond

Intermediate

Index.

For

the

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

S&P

Municipal

Bond

Intermediate

Index.

The

Fund’s

yield

curve

positioning

was

the

largest

driver

of

underperformance.

The

negative

impact

primarily

came

from

the

Fund’s

overweight

allocation

to

eight

to

10-year

maturities,

which

underperformed

as

interest

rates

rose

during

the

reporting

period.

Also

detracting

from

relative

performance

were

the

Fund’s

overweight

allocations

to

BBB,

below

investment

grade

and

non-rated

credits.

While

these

credits

underperformed

relative

to

higher

credit

quality

bonds,

the

portfolio

management

team

believed

they

offered

an

attractive

relative

value

opportunity.

Partially

offsetting

the

Fund’s

underperformance

was

an

equity

holding

in

Energy

Harbor.

The Fund

received

Energy

Harbor

common

stock

in

2020

as

part

of

the

bankruptcy

restructuring

of

FirstEnergy

Solutions,

the

predecessor

of

Energy

Harbor

and

a

former

holding

in

the

Fund.

The

stock

price

rose

during

the

reporting

period alongside rising

energy

prices

and

greater

interest

in

low-

carbon

energy

sources.

On

March

6,

2023,

Vistra

Corp.

(NYSE:

VST),

an

integrated

retail

electricity

and

power

generation

company,

announced

it

had

executed

a

definitive

agreement

with

Energy

Harbor

to

merge

Energy

Harbor

into

a

newly

formed

subsidiary

of

Vistra.

In

connection

with

the

transaction,

Nuveen

Funds

and

accounts

expect

to

receive

a

combination

of

cash

and

shares

in

a

newly

formed

entity.

Nuveen

expects

these

shares

to

be

issued

in

a

private

transaction

and

may

have

reduced

secondary

market

liquidity.

For

additional

information,

please

refer

to

footnotes

in

the

Portfolio

of

Investments

section

of

this

report.

Another

positive

contributor

to

relative

performance

was

the

Fund’s

overweight

and

security

selection

in

the

transportation

sector.

Within

the

sector,

positions

in

toll

road

bonds

contributed

most

significantly

during

this

reporting

period.

Nuveen

Select

Tax-Free

Income

Portfolio

(NXP)

What

key

strategies

were

used

to

manage

the

Fund

during

the

twelve-month

reporting

period

ended

March

31,

2023?

The

Fund's

primary

investment

objective

is

current

income

exempt

from

regular

federal

income

tax,

consistent

with

preservation

of

capital.

The

Fund

invests

in

municipal

securities

that

are

exempt

from

federal

income

taxes.

The

Fund

invests

primarily

in

municipal

securities

that

are

either

rated

investment

grade

at

the

time

of

investment,

or,

if

they

are

unrated,

are

judged

by

the

manager

to

be

of

comparable

quality.

The

Fund

may

use

inverse

floating

rate

securities

to

more

efficiently

implement

its

investment

strategy

to

create

up

to

10%

effective

leverage.

Inverse

floating

rate

securities,

sometimes

referred

to

as

“inverse

floaters,”  are

the

residual

interest

in

a

tender

option

bond

(TOB)

trust.

These

securities

can

be

used

for

a

variety

of

reasons,

including

duration

management,

income

and

total

return

enhancement.

NXP

had

no

effective

leverage

during

the

reporting

period.

During

the

reporting

period,

the

portfolio

management

team

remained

focused

on

pursuing

the

Fund's

investment

objectives

and

continued

to

seek

opportunities

to

support

the

Fund’s

income

earnings.

There

were

no

material

changes

to

the

portfolio’s

overall

duration,

sector

and

credit

quality

positioning.

How

did

the

Fund

perform

during

the

twelve-month

reporting

period

ended

March

31,

2023?

For

the

twelve

months

ended

March

31,

2023,

the

Nuveen

Select

Tax-Free

Income

Portfolio

(NXP)

outperformed

the

S&P

Municipal

Bond

Index.

For

the

purposes

of

this

Performance

Commentary,

references

to

relative

performance

are

in

comparison

to

the

S&P

Municipal

Bond

Index.

Portfolio

Managers’

Comments

(continued)

6

The

largest

contributor

to

the

Fund’s

outperformance

was

an

equity

holding

in

Energy

Harbor.

The Fund

received

Energy

Harbor

common

stock

in

2020

as

part

of

the

bankruptcy

restructuring

of

FirstEnergy

Solutions,

the

predecessor

of

Energy

Harbor

and

a

former

holding

in

the

Fund.

The

stock

price

rose

during

the

reporting

period alongside rising

energy

prices

and

greater

interest

in

low-carbon

energy

sources.

On

March

6,

2023,

Vistra

Corp.

(NYSE:

VST),

an

integrated

retail

electricity

and

power

generation

company,

announced

it

had

executed

a

definitive

agreement

with

Energy

Harbor

to

merge

Energy

Harbor

into

a

newly

formed

subsidiary

of

Vistra.

In

connection

with

the

transaction,

Nuveen

Funds

and

accounts

expect

to

receive

a

combination

of

cash

and

shares

in

a

newly

formed

entity.

Nuveen

expects

these

shares

to

be

issued

in

a

private

transaction

and

may

have

reduced

secondary

market

liquidity.

For

additional

information,

please

refer

to

footnotes

in

the

Portfolio

of

Investments

section

of

this

report.

The

Fund

also

benefited

from

the

combination

of

sector

allocation

and

security

selection.

An

overweight

allocation

to

pre-refunded

bonds

was

advantageous,

as

their

shorter-duration

structures

outperformed

in

the

market

environment.

The

Fund’s

overweight

allocation

to

health

care

contributed

along

with

security

selection

in

the

life

care

subsector

where

the

Fund

owned

shorter-duration

structures

that

outperformed.

Partially

offsetting

these

positive

contributors

was

the

Fund’s

duration

profile.

The

Fund’s

overweight

to

durations

of

eight

years

and

longer

detracted

from

relative

performance,

as

longer-duration

bonds

underperformed

in

this

reporting

period.

This

material

is

not

intended

to

be

a

recommendation

or

investment

advice,

does

not

constitute

a

solicitation

to

buy,

sell

or

hold

a

security

or

an

investment

strategy,

and

is

not

provided

in

a

fiduciary

capacity.

The

information

provided

does

not

take

into

account

the

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor’s

objectives

and

circumstances

and

in

consultation

with

his

or

her

advisors.

Certain

statements

in

this

report

are

forward-looking

statements.

Discussions

of

specific

investments

are

for

illustration

only

and

are

not

intended

as

recommendations

of

individual

investments.

The

forward-looking

statements

and

other

views

expressed

herein

are

those

of

the

portfolio

manager

as

of

the

date

of

this

report.

Actual

future

results

or

occurrences

may

differ

significantly

from

those

anticipated

in

any

forward-looking

statements,

and

the

views

expressed

herein

are

subject

to

change

at

any

time,

due

to

numerous

market

and

other

factors.

The

Fund

disclaims

any

obligation

to

update

publicly

or

revise

any

forward-looking

statements

or

views

expressed

herein.

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

rating

given

by

one

of

the

following

national

rating

agencies:

Standard

&

Poor’s

Group

(S&P),

Moody’s

Investors

Service,

Inc.

(Moody’s)

or

Fitch,

Inc.

(Fitch).

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Credit

ratings

are

subject

to

change.

AAA,

AA,

A

and

BBB

are

investment

grade

ratings,

while

BB,

B,

CCC,

CC,

C

and

D

are

below

investment

grade

ratings.

Holdings

designated

N/R

are

not

rated

by

these

national

rating

agencies.

Bond

insurance

guarantees

only

the

payment

of

principal

and

interest

on

the

bond

when

due,

and

not

the

value

of

the

bonds

themselves,

which

will

fluctuate

with

the

bond

market

and

the

financial

success

of

the

issuer

and

the

insurer.

Insurance

relates

specifically

to

the

bonds

in

the

portfolio

and

not

to

the

share

prices

of

a

Fund.

No

representation

is

made

as

to

the

insurers’

ability

to

meet

their

commitments.

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

the

terms

used

within

this

section.

Common

Share

Information

7

COMMON

SHARE

DISTRIBUTION

INFORMATION

The

following

information

regarding the

Funds' distributions

is

current

as

of

March

31,

2023.  Each

Fund's

distribution

levels

may

vary

over

time

based

on each

Fund's

investment

activity

and

portfolio

investment

value

changes.

During

the

current

reporting

period, each

Fund's

distributions

to

common

shareholders

were

as

shown

in

the

accompanying

table.

Each

Fund

seeks

to

pay

regular

monthly

dividends

out

of

its

net

investment

income

at

a

rate

that

reflects

its

past

and

projected

net

income

performance.

To

permit

each

Fund

to

maintain

a

more

stable

monthly

dividend,

the

Fund

may

pay

dividends

at

a

rate

that

may

be

more

or

less

than

the

amount

of

net

income

actually

earned

by

the

Fund

during

the

period.

Distributions

to

common

shareholders

are

determined

on

a

tax

basis,

which

may

differ

from

amounts

recorded

in

the

accounting

records.

In

instances

where

the

monthly

dividend

exceeds

the

earned

net

investment

income,

the

Fund

would

report

a

negative

undistributed

net

ordinary

income.

Refer

to the

Notes

to

Financial Statements for

additional

information

regarding

the

amounts

of

undistributed

net

ordinary

income

and

undistributed

net

long-term

capital

gains

and

the

character

of

the

actual

distributions

paid

by

the

Fund

during

the

period.

All

monthly

dividends

paid

by

each

Fund

during

the

current

reporting

period

were

paid

from

net

investment

income.

If

a

portion

of

the

Fund’s

monthly

distributions

is

sourced

or

comprised

of

elements

other

than

net

investment

income,

including

capital

gains

and/

or

a

return

of

capital,

shareholders

will

be

notified

of

those

sources.

For

financial

reporting

purposes,

the

per

share

amounts

of

each

Fund’s

distributions

for

the

reporting

period

are

presented

in

this

report’s

Financial

Highlights.

For

income

tax

purposes,

distribution

information

for

each

Fund

as

of

its

most

recent

tax

year

end

is

presented

in the

Notes

to

Financial

Statements

of

this

report.

NUVEEN

CLOSED-END

FUND

DISTRIBUTION

AMOUNTS

The

Nuveen

Closed-End

Funds’

monthly

and

quarterly

periodic

distributions

to

shareholders

are

posted

on

www.nuveen.com

and

can

be

found

on

Nuveen’s

enhanced

closed-end

fund

resource

page,

which

is

at

https://www.nuveen.com/resource-center-

closedend

funds,

along

with

other

Nuveen

closed-end

fund

product

updates.

To

ensure

timely

access

to

the

latest

information,

shareholders

may

use

a

subscribe

function,

which

can

be

activated

at

this

web

page

(https://www.nuveen.com/subscriptions).

COMMON

SHARE

REPURCHASES

During

August

2022,

the

Funds’

Board

of

Trustees

reauthorized

an

open-market

share

repurchase

program,

allowing

each

Fund

to

repurchase

an

aggregate

of

up

to

approximately

10%

of

its

outstanding

common

shares.

Per

Common

Share

Amounts

Monthly

Distributions

(Ex-Dividend

Date)

NIM

NXP

April

$0.0210

$0.0455

May

0.0210

0.0455

June

0.0210

0.0455

July

0.0225

0.0455

August

0.0225

0.0455

September

0.0225

0.0455

October

0.0225

0.0455

November

0.0225

0.0455

December

0.0225

0.0455

January

0.0245

0.0485

February

0.0245

0.0485

March

0.0245

0.0485

Total

Distributions

from

Net

Investment

Income

$0.2715

$0.5550

Yields

NIM

NXP

Market

Yield

1

3.19%

4.07%

Taxable-Equivalent

Yield

1

5.38%

6.87%

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.

Common

Share

Information

(continued)

8

During

the

current

reporting

period,

the

Funds

did

not

repurchase

any

of

their

outstanding

common

shares.

As

of

March

31,

2023,

(and

since

the

inception

of

the

Funds’

repurchase

programs),

each

Fund

has

cumulatively

repurchased

and

retired

its

outstanding

common

shares

as

shown

in

the

accompanying

table.

OTHER

COMMON

SHARE

INFORMATION

As

of

March

31,

2023,

the

Funds’

common

share

prices

were

trading

at

a

premium/(discount)

to

their

common

share

NAV,

and

trading

at

an

average

premium/(discount)

to

NAV

during

the

current

reporting

period,

as

follows:

NIM

NXP

Common

shares

cumulatively

repurchased

and

retired

0

0

Common

shares

authorized

for

repurchase

1,240,000

1,655,000

NIM

NXP

Common

share

NAV

$10.00

$14.57

Common

share

price

$9.23

$14.31

Premium/(Discount)

to

NAV

(7.70)%

(1.78)%

Average

premium/(discount)

to

NAV

(6.94)%

(3.81)%

About

the

Funds’

Benchmarks

9

S&P

Municipal

Bond

Index

:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

U.S.

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

Municipal

Bond

Intermediate

Index

:

An

index

containing

bonds

in

the

S&P

Municipal

Bond

Index

that

mature

between

3

and

15

years.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

10

Nuveen

Select

Maturities

Municipal

Fund

Performance

Overview

and

Holding

Summaries

March

31,

2023

NIM

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

the

terms

used

within

this

section.

Fund

Performance*

*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

Intermediate

Index.

Performance

data

shown

represents

past

performance

and

does

not

predict

or

guarantee

future

results.

Current

per-

formance

may

be

higher

or

lower

than

the

data

shown.

Returns

do

not

reflect

the

deduction

of

taxes

that

shareholders

may

have

to

pay

on

Fund

distributions

or

upon

the

sale

of

Fund

shares.

Returns

at

NAV

are

net

of

Fund

expenses,

and

assume

reinvestment

of

distributions.

Comparative

index

return

information

is

provided

for

the

Fund’s

shares

at

NAV

only.

Indexes

are

not

available

for

direct

investment.

Daily

Common

Share

NAV

and

Share

Price

Growth

of

an

Assumed

$10,000

Investment

as

of March

31,

2023

 -

Common

Share

Price 

Total

Returns

as

of

March

31,

2023

Average

Annual

Inception

Date

1-Year

5-Year

10-Year

NIM

at

Common

Share

NAV

9/18/92

0.17%

2.29%

2.45%

NIM

at

Common

Share

Price

9/18/92

(0.79)%

2.10%

2.01%

S&P

Municipal

Bond

Intermediate

Index

—

1.37%

2.22%

2.33%

11

Holdings

Summaries

as

of

March

31,

2023

This

data

relates

to

the

securities

held

in

the

Fund’s

portfolio

of

investments

as

of

the

end

of

the

reporting

period.

It

should

not

be

construed

as

a

measure

of

performance

for

the

Fund

itself.

Holdings

are

subject

to

change.

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

rating

given

by

one

of

the

following

national

rating

agencies:

Standard

&

Poor’s

Group,

Moody’s

Investors

Service,

Inc.

or

Fitch,

Inc.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Credit

ratings

are

subject

to

change.

AAA,

AA,

A

and

BBB

are

investment

grade

ratings;

BB,

B,

CCC,

CC,

C

and

D

are

below-investment

grade

ratings.

Holdings

designated

N/R

are

not

rated

by

these

national

rating

agencies.

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

94

.6‌

%

Common

Stocks

4

.1‌

%

Asset-Backed

and

Mortgage-

Backed

Securities

0

.2‌

%

Other

Assets

&

Liabilities,

Net

1.1%

Net

Assets

100‌

%

Bond

Credit

Quality

(%

of

total

investment

exposure)

U.S.

Guaranteed

5.4%

AAA

5.7%

AA

27.8%

A

29.8%

BBB

11.3%

BB

or

Lower

7.1%

N/R

(not

rated)

8.8%

N/A

(not

applicable)

4.1%

Total

100‌

%

Portfolio

Composition

(%

of

total

investments)

Transportation

16.2%

Utilities

13.6%

Health

Care

13.0%

Tax

Obligation/Limited

12.8%

Tax

Obligation/General

12.7%

Housing/Single

Family

8.6%

U.S.

Guaranteed

5.4%

Other

13.4%

Asset-Backed

and

Mortgage-

Backed

Securities

0.2%

Common

Stocks

4.1%

Total

100%

States

and

Territories

1

(%

of

total

municipal

bonds)

Illinois

12.0%

California

8.5%

Ohio

6.4%

New

Jersey

6.2%

Texas

5.2%

New

York

5.0%

Pennsylvania

4.6%

Florida

3.3%

Colorado

3.3%

Wisconsin

3.3%

Louisiana

3.1%

Puerto

Rico

2.7%

Michigan

2.5%

Oklahoma

2.3%

Washington

2.2%

Arizona

2.0%

Alabama

1.9%

Kentucky

1.9%

Georgia

1.8%

Indiana

1.5%

Oregon

1.5%

Hawaii

1.4%

North

Carolina

1.4%

Virginia

1.4%

Tennessee

1.3%

Other

13.3%

Total

100%

1

See

the

Portfolio

of

Investments

for

the

remaining

states

comprising

"Other"

and

not

listed

in

the

table

above.

12

Nuveen

Select

Tax-Free

Income

Portfolio

Performance

Overview

and

Holding

Summaries

March

31,

2023

NXP

Refer

to

the

Glossary

of

Terms

Used

in

this

Report

for

further

definition

of

the

terms

used

within

this

section.

Fund

Performance*

*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

Index.

Performance

data

shown

represents

past

performance

and

does

not

predict

or

guarantee

future

results.

Current

per-

formance

may

be

higher

or

lower

than

the

data

shown.

Returns

do

not

reflect

the

deduction

of

taxes

that

shareholders

may

have

to

pay

on

Fund

distributions

or

upon

the

sale

of

Fund

shares.

Returns

at

NAV

are

net

of

Fund

expenses,

and

assume

reinvestment

of

distributions.

Comparative

index

return

information

is

provided

for

the

Fund’s

shares

at

NAV

only.

Indexes

are

not

available

for

direct

investment.

Daily

Common

Share

NAV

and

Share

Price

Growth

of

an

Assumed

$10,000

Investment

as

of March

31,

2023

 -

Common

Share

Price 

Total

Returns

as

of

March

31,

2023

Average

Annual

Inception

Date

1-Year

5-Year

10-Year

NXP

at

Common

Share

NAV

3/19/92

0.07%

2.81%

3.45%

NXP

at

Common

Share

Price

3/19/92

3.19%

4.11%

3.72%

S&P

Municipal

Bond

Index

—

(0.22)%

2.01%

2.39%

13

Holdings

Summaries

as

of

March

31,

2023

This

data

relates

to

the

securities

held

in

the

Fund’s

portfolio

of

investments

as

of

the

end

of

the

reporting

period.

It

should

not

be

construed

as

a

measure

of

performance

for

the

Fund

itself.

Holdings

are

subject

to

change.

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

rating

given

by

one

of

the

following

national

rating

agencies:

Standard

&

Poor’s

Group,

Moody’s

Investors

Service,

Inc.

or

Fitch,

Inc.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Credit

ratings

are

subject

to

change.

AAA,

AA,

A

and

BBB

are

investment

grade

ratings;

BB,

B,

CCC,

CC,

C

and

D

are

below-investment

grade

ratings.

Holdings

designated

N/R

are

not

rated

by

these

national

rating

agencies.

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

98

.1‌

%

Common

Stocks

1

.1‌

%

Short-Term

Municipal

Bonds

0

.2‌

%

Other

Assets

&

Liabilities,

Net

0.6%

Net

Assets

100‌

%

Bond

Credit

Quality

(%

of

total

investment

exposure)

U.S.

Guaranteed

8.3%

AAA

2.8%

AA

40.8%

A

34.5%

BBB

5.9%

BB

or

Lower

2.1%

N/R

(not

rated)

4.5%

N/A

(not

applicable)

1.1%

Total

100‌

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/Limited

27.0%

Tax

Obligation/General

19.8%

Transportation

17.7%

Health

Care

11.1%

U.S.

Guaranteed

8.3%

Education

and

Civic

Organizations

8.1%

Utilities

5.2%

Other

1.7%

Common

Stocks

1.1%

Total

100%

States

and

Territories

1

(%

of

total

municipal

bonds)

California

18.7%

Colorado

9.4%

Illinois

9.0%

Texas

6.6%

New

Jersey

6.0%

Massachusetts

5.7%

Washington

5.3%

Connecticut

4.6%

Oregon

3.4%

Arizona

3.2%

Florida

2.9%

New

York

2.5%

Idaho

2.3%

Indiana

2.3%

Missouri

2.2%

Puerto

Rico

1.9%

Guam

1.9%

District

of

Columbia

1.5%

Hawaii

1.1%

Wisconsin

1.1%

Other

8.4%

Total

100%

1

See

the

Portfolio

of

Investments

for

the

remaining

states

comprising

"Other"

and

not

listed

in

the

table

above.

Report

of

Independent

Registered

Public

Accounting

Firm

15

To

the

Board

of

Trustees

and

Shareholders

of

Nuveen

Select

Maturities

Municipal

Fund

and

Nuveen

Select

Tax-Free

Income

Portfolio:

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities

of

Nuveen

Select

Maturities

Municipal

Fund

and

Nuveen

Select

Tax-Free

Income

Portfolio

(the

Funds),

including

the

portfolios

of

investments,

as

of

March

31,

2023,

the

related

statements

of

operations

for

the

year

then

ended,

the

statements

of

changes

in

net

assets

for

each

of

the

years

in

the

two-year

period

then

ended,

and

the

related

notes

(collectively,

the

financial

statements)

and

the

financial

highlights

for

each

of

the

years

in

the

five-year

period

then

ended.

In

our

opinion,

the

financial

statements

and

financial

highlights

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Funds

as

of

March

31,

2023,

the

results

of

their

operations

for

the

year

then

ended,

the

changes

in

their

net

assets

for

each

of

the

years

in

the

two-year

period

then

ended,

and

the

financial

highlights

for

each

of

the

years

in

the

five-year

period

then

ended,

in

conformity

with

U.S.

generally

accepted

accounting

principles

.

Basis

for

Opinion

These

financial

statements

and

financial

highlights

are

the

responsibility

of

the

Funds'

management.

Our

responsibility

is

to

express

an

opinion

on

these

financial

statements

and

financial

highlights

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB

.

We

conducted

our

audits

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

and

financial

highlights

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements

and

financial

highlights,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements

and

financial

highlights.

Such

procedures

also

included

confirmation

of

securities

owned

as

of

March

31,

2023,

by

correspondence

with

custodians

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements

and

financial

highlights.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion

.

/s/

KPMG

LLP

We

have

served

as

the

auditor

of

one

or

more

Nuveen

investment

companies

since

2014.

Chicago,

Illinois

May

26,

2023

16

Nuveen

Select

Maturities

Municipal

Fund

Portfolio

of

Investments

March

31,

2023

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

98.9%   

X

117,830,714

MUNICIPAL

BONDS

-

94.6%

X

117,830,714

Alabama

-

1.8%

$

80

Birmingham-Jefferson

Civic

Center

Authority,

Alabama,

Special

Tax

Bonds,

Series

2018A,

4.000%,

7/01/37

7/28

at

100.00

Aa3  

$

80,372

215

Black

Belt

Energy

Gas

District,

Alabama,

Gas

PrePay

Revenue

Bonds,

Project

3

Series

2018A,

4.000%,

12/01/48,

(Mandatory

Put

12/01/23)

9/23

at

100.31

A2  

215,292

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

Aa1  

340,166

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

Aa1  

100,042

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

A2  

123,945

625

Mobile

Industrial

Development

Board,

Alabama,

Pollution

Control

Revenue

Refunding

Bonds,

Alabama

Power

Company

Barry

Plan,

Series

2008,

2.900%,

7/15/34,

(Mandatory

Put

12/12/23)

No

Opt.

Call

A1  

623,419

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

N/R  

64,718

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

BBB  

125,851

360

Southeast

Alabama

Gas

Supply

District,

Alabama,

Gas

Supply

Revenue

Bonds,

Project

2,

Fixed

Rate

Series

2018A,

4.000%,

6/01/49,

(Mandatory

Put

6/01/24)

3/24

at

100.29

A1  

360,184

Tuscaloosa

County

Industrial

Development

Authority,

Alabama,

Gulf

Opportunity

Zone

Bonds,

Hunt

Refining

Project,

Refunding

Series

2019A:

116

4.500%,

5/01/32,

144A

5/29

at

100.00

N/R  

101,091

150

5.250%,

5/01/44,

144A

5/29

at

100.00

N/R  

123,284

Total

Alabama

2,258,364

Alaska

-

0.4%

370

Alaska

Housing

Finance

Corporation,

Mortgage

Revenue

Bonds,

General

Series

2020A-II,

2.000%,

12/01/35

6/29

at

100.00

AA+  

295,497

100

Alaska

Housing

Finance

Corporation,

Mortgage

Revenue

Bonds,

General

Series

2022A-II,

2.350%,

12/01/39

12/30

at

100.00

AA+  

80,540

150

Alaska

Housing

Finance

Corporation,

Mortgage

Revenue

Bonds,

Series

2022B-1,

2.150%,

6/01/36

12/30

at

100.00

AA+  

121,605

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

N/R  

13,847

Total

Alaska

511,489

Arizona

-

1.9%

130

Arizona

State,

Certificates

of

Participation,

Refunding

Series

2019A,

5.000%,

10/01/27,

(ETM)

No

Opt.

Call

Aa2  (4)

145,236

600

Chandler

Industrial

Development

Authority,

Arizona,

Industrial

Development

Revenue

Bonds,

Intel

Corporation

Project,

Series

2005,

2.400%,

12/01/35,

(Mandatory

Put

8/14/23)

No

Opt.

Call

A  

597,168

17

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Arizona

(continued)

$

135

Chandler

Industrial

Development

Authority,

Arizona,

Industrial

Development

Revenue

Bonds,

Intel

Corporation

Project,

Series

2007,

2.700%,

12/01/37,

(AMT),

(Mandatory

Put

8/14/23)

No

Opt.

Call

A  

$

134,468

235

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

A  

237,843

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

A  

262,083

Salt

Verde

Financial

Corporation,

Arizona,

Senior

Gas

Revenue

Bonds,

Citigroup

Energy

Inc

Prepay

Contract

Obligations,

Series

2007:

245

5.000%,

12/01/32

No

Opt.

Call

A3  

261,398

730

5.000%,

12/01/37

No

Opt.

Call

A3  

762,310

Total

Arizona

2,400,506

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

BB  

99,994

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

BBB+  

281,719

Total

Arkansas

381,713

California

-

7.9%

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

AA  

99,002

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

Baa1  

102,410

95

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

A  

104,644

390

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

El

Camino

Hospital,

Series

2017,

3.750%,

2/01/32

2/27

at

100.00

AA  

406,142

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Saint

Joseph

Health,

Term

Rate

Series

2019C:

35

5.000%,

10/01/39,

(Mandatory

Put

10/01/25)

10/25

at

100.00

A1  

36,552

10

5.000%,

10/01/39,

(Pre-refunded

10/01/25)

10/25

at

100.00

N/R  (4)

10,601

98

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-3,

3.250%,

8/20/36

2021

No

Opt.

Call

BBB  

89,919

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

BB  

275,874

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

AA  

1,009,112

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

A-  

148,742

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

18

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

California

(continued)

$

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

A-  

$

288,657

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

A-  

202,046

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

BB+  

154,211

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

BB+  

742,951

30

5.000%,

12/01/33,

144A

6/28

at

100.00

BB+  

31,026

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

AA-  

202,545

265

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

AA-  

306,711

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

N/R  

75,881

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

N/R  

153,792

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

N/R  

88,366

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

BBB+  

73,298

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

N/R  

102,536

105

Lake

Elsinore

Redevelopment

Agency,

California,

Special

Tax

Bonds,

Community

Facilities

District

90-2,

Series

2007A,

4.500%,

10/01/24

-

AGM

Insured

5/23

at

100.00

AA  

105,118

1,070

Mount

San

Antonio

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

of

2008,

Series

2013A,

0.000%,

8/01/28

(5)

2/28

at

100.00

Aa1  

1,194,644

2,000

Palomar

Pomerado

Health,

California,

General

Obligation

Bonds,

Series

2009A,

0.000%,

8/01/25

-

AGC

Insured

No

Opt.

Call

AA  

1,858,120

35

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Senior

Lien

Bonds,

Series

2013A,

5.750%,

6/01/44,

(Pre-refunded

6/01/23)

6/23

at

100.00

A  (4)

35,177

100

San

Diego

Association

of

Governments,

California,

Capital

Grants

Receipts

Revenue

Bonds,

Mid-Coast

Corridor

Transit

Project,

Green

Series

2019B,

1.800%,

11/15/27

11/26

at

100.00

A-  

96,267

2,000

San

Diego

Community

College

District,

California,

General

Obligation

Bonds,

Refunding

Series

2011,

0.000%,

8/01/37

No

Opt.

Call

AAA  

1,199,140

415

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

A  (4)

434,775

19

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

California

(continued)

$

215

Washington

Township

Health

Care

District,

California,

Revenue

Bonds,

Refunding

Series

2015A,

5.000%,

7/01/25

No

Opt.

Call

Baa2  

$

221,665

Total

California

9,849,924

Colorado

-

3.1%

750

Colorado

Bridge

Enterprise,

Revenue

Bonds,

Central

70

Project,

Senior

Series

2017,

4.000%,

6/30/30,

(AMT)

12/27

at

100.00

A  

766,005

200

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

CommonSpirit

Health,

Series

2019A-2,

5.000%,

8/01/33

8/29

at

100.00

A-  

218,146

500

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

A-  

524,620

300

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

Parkview

Medical

Center,

Series

2016,

3.125%,

9/01/42

9/26

at

100.00

Baa1  

230,079

35

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

Sisters

of

Charity

of

Leavenworth

Health

Services

Corporation,

Series

2013A,

5.500%,

1/01/35,

(Pre-refunded

1/01/24)

1/24

at

100.00

AA+  (4)

35,726

100

Colorado

Housing

and

Finance

Authority,

Single

Family

Mortgage

Bonds,

Class

I

Series

2021H,

2.000%,

5/01/42

5/30

at

100.00

AAA  

72,294

70

Denver

City

and

County,

Colorado,

Airport

System

Revenue

Bonds,

Series

2022D,

5.750%,

11/15/34,

(AMT)

11/32

at

100.00

AA-  

84,412

100

Denver

Urban

Renewal

Authority,

Colorado,

Tax

Increment

Revenue

Bonds,

9th

and

Colorado

Urban

Redevelopment

Area,

Series

2018A,

5.250%,

12/01/39,

144A

12/23

at

103.00

N/R  

100,985

E-470

Public

Highway

Authority,

Colorado,

Senior

Revenue

Bonds,

Series

2000B:

355

0.000%,

9/01/29

-

NPFG

Insured

No

Opt.

Call

A  

292,516

380

0.000%,

9/01/33

-

NPFG

Insured

No

Opt.

Call

A  

270,340

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

N/R  

505,895

Regional

Transportation

District,

Colorado,

Private

Activity

Bonds,

Denver

Transit

Partners

Eagle

P3

Project,

Series

2020A:

100

5.000%,

1/15/31

No

Opt.

Call

A-  

110,327

100

4.000%,

7/15/40

No

Opt.

Call

A-  

95,813

100

Southlands

Metropolitan

District

1,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2017A-1,

3.500%,

12/01/27

No

Opt.

Call

Ba1  

93,444

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

N/R  

485,165

Total

Colorado

3,885,767

Connecticut

-

1.1%

370

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hartford

HealthCare

Issue,

Series

2020A,

4.000%,

7/01/36

1/30

at

100.00

A+  

370,492

50

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Stamford

Hospital,

Series

2021L-1,

4.000%,

7/01/28

No

Opt.

Call

BBB+  

51,207

125

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

AAA  

120,022

200

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Yale

University,

Series

2017B-2,

0.550%,

7/01/37,

(Mandatory

Put

7/03/23)

No

Opt.

Call

AAA  

198,682

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

20

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Connecticut

(continued)

$

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)

1/24

at

100.00

AA-  

$

156,086

85

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Series

2020E-3,

1.850%,

5/15/38

5/30

at

100.00

AAA  

60,820

450

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Social

Series

2022C-1,

4.250%,

11/15/37

11/31

at

100.00

AAA  

462,128

Total

Connecticut

1,419,437

Delaware

-

0.3%

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

BBB-  

192,518

170

Delaware

Health

Facilities

Authority,

Revenue

Bonds,

Nanticoke

Memorial

Hospital,

Series

2013,

5.000%,

7/01/28,

(Pre-refunded

7/01/23)

7/23

at

100.00

AA-  (4)

170,969

Total

Delaware

363,487

District

of

Columbia

-

1.0%

120

District

of

Columbia

Student

Dormitory

Revenue

Bonds,

Provident

Group

-

Howard

Properties

LLC

Issue,

Series

2013,

5.000%,

10/01/30

4/23

at

100.00

BB-  

120,001

150

District

of

Columbia

Tobacco

Settlement

Corporation,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2001,

6.500%,

5/15/33

No

Opt.

Call

A2  

153,404

555

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

AA  

528,693

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

AA-  

253,782

165

Washington

Metropolitan

Area

Transit

Authority,

District

of

Columbia,

Dedicated

Revenue

Bonds,

Green

Series

2021A,

4.000%,

7/15/34

7/31

at

100.00

AA  

178,406

Total

District

of

Columbia

1,234,286

Florida

-

3.2%

175

Cape

Coral,

Florida,

Utility

Improvement

Assessment

Bonds,

Refunding

Various

Areas

Series

2017,

3.000%,

9/01/28

-

AGM

Insured

No

Opt.

Call

AA  

177,296

400

Citizens

Property

Insurance

Corporation,

Florida,

Coastal

Account

Senior

Secured

Bonds,

Series

2015A-1,

5.000%,

6/01/25

12/24

at

100.00

AA  

413,680

Collier

County

Educational

Facilities

Authority,

Florida,

Revenue

Bonds,

Hodges

University,

Refunding

Series

2013:

15

4.750%,

11/01/23,

(ETM)

No

Opt.

Call

N/R  (4)

15,170

370

6.000%,

11/01/33,

(Pre-refunded

11/01/23)

11/23

at

100.00

N/R  (4)

376,886

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

1/24

at

107.00

N/R  

277,209

Florida

Development

Finance

Corporation,

Florida,

Surface

Transportation

Facility

Revenue

Bonds,

Virgin

Trains

USA

Passenger

Rail

Project,

Series

2019A:

425

6.250%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/24),

144A

5/23

at

101.00

N/R  

420,797

665

6.375%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/26),

144A

5/23

at

102.00

N/R  

628,611

575

6.500%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/29),

144A

5/23

at

102.00

N/R  

536,061

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)

5/23

at

100.00

N/R  

246,895

21

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Florida

(continued)

$

375

Florida

Development

Finance

Corporation,

Revenue

Bonds,

Brightline

Passenger

Rail

Expansion

Project,

Series

2022A,

7.250%,

7/01/57,

(AMT),

(Mandatory

Put

10/03/23),

144A

5/23

at

103.00

N/R  

$

377,970

45

Florida

Housing

Finance

Corporation,

Homeowner

Mortgage

Revenue

Bonds,

Series

2018-2,

3.750%,

7/01/33

1/28

at

100.00

Aaa  

44,171

100

Florida

Housing

Finance

Corporation,

Homeowner

Mortgage

Revenue

Bonds,

Social

Series

2021-2,

2.050%,

7/01/41

7/30

at

100.00

Aaa  

72,142

15

JEA,

Florida,

Electric

System

Revenue

Bonds,

Subordinated

Series

Three

2020A,

5.000%,

10/01/27

No

Opt.

Call

AA  

16,677

90

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

N/R  (4)

93,433

100

Pompano

Beach,

Florida,

Revenue

Bonds,

John

Knox

Village

of

Florida

Incorporated

Project,

Series

2021B-1,

2.000%,

1/01/29

No

Opt.

Call

BBB  

84,109

225

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

A1  

147,519

Total

Florida

3,928,626

Georgia

-

1.7%

250

Georgia

Housing

and

Finance

Authority,

Single

Family

Mortgage

Bonds,

Series

2020A,

2.600%,

12/01/32

6/29

at

100.00

AAA  

231,472

240

Georgia

Housing

and

Finance

Authority,

Single

Family

Mortgage

Bonds,

Series

2023A,

4.150%,

12/01/38

6/32

at

100.00

AAA  

245,566

1,000

Georgia

State,

General

Obligation

Bonds,

Series

2021A,

5.000%,

7/01/27

No

Opt.

Call

AAA  

1,112,910

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

Aa2  

266,468

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

Aa1  

100,005

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

BBB-  

190,818

Total

Georgia

2,147,239

Guam

-

0.2%

Guam

A.B.

Won

Pat  International

Airport

Authority,

Revenue

Bonds,

Series

2013C:

80

6.375%,

10/01/43,

(Pre-refunded

10/01/23),

(AMT)

10/23

at

100.00

Baa2  (4)

81,303

70

6.375%,

10/01/43,

(AMT)

10/23

at

100.00

Baa2  

71,140

140

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2013,

5.500%,

7/01/43,

(Pre-refunded

7/01/23)

7/23

at

100.00

A-  (4)

140,931

Total

Guam

293,374

Hawaii

-

1.4%

200

Hawaii

Department

of

Budget

and

Finance,

Special

Purpose

Revenue

Bonds,

Hawaii

Pacific

University,

Series

2013A,

6.250%,

7/01/27,

144A

7/23

at

100.00

BB  

200,534

1,000

Hawaii

Department

of

Budget

and

Finance,

Special

Purpose

Revenue

Bonds,

Hawaiian

Electric

Company,

Inc.

and

Subsidiary

Projects,

Series

2017A,

3.100%,

5/01/26,

(AMT)

No

Opt.

Call

A-  

980,060

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

AA  

21,016

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

22

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Hawaii

(continued)

$

510

HAWAIIAN

ELECTRIC

COMPANY

INC.

and

Its

Subsidiaries,

Special

Purpose

Revenue

Bonds,

Department

of

Budget

and

Finance

of

the

State

of

Hawaii,

Series

2015,

3.250%,

1/01/25,

(AMT)

No

Opt.

Call

A-  

$

505,782

Total

Hawaii

1,707,392

Idaho

-

0.5%

475

Nez

Perce

County,

Idaho,

Pollution

Control

Revenue

Bonds,

Potlatch

Corporation

Project,

Refunding

Series

2016,

2.750%,

10/01/24

No

Opt.

Call

BBB-  

468,440

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

N/R  

124,359

Total

Idaho

592,799

Illinois

-

11.3%

Bolingbrook,

Will

and

DuPage

Counties,

Illinois,

General

Obligation

Bonds,

Refunding

Series

2013A:

170

0.000%,

1/01/30,

(Pre-refunded

7/01/23)

7/23

at

72.73

A2  (4)

122,803

110

0.000%,

1/01/32,

(Pre-refunded

7/01/23)

7/23

at

65.29

A2  (4)

71,330

Cary,

Illinois,

Special

Tax

Bonds,

Special

Service

Area

1,

Refunding

Series

2016:

10

2.350%,

3/01/24

-

BAM

Insured

No

Opt.

Call

AA  

9,928

25

2.700%,

3/01/26

-

BAM

Insured

3/25

at

100.00

AA  

24,979

25

2.900%,

3/01/28

-

BAM

Insured

3/25

at

100.00

AA  

25,113

65

3.050%,

3/01/30

-

BAM

Insured

3/25

at

100.00

AA  

65,126

Cary,

Illinois,

Special

Tax

Bonds,

Special

Service

Area

2,

Refunding

Series

2016:

15

2.350%,

3/01/24

-

BAM

Insured

No

Opt.

Call

AA  

14,893

25

2.700%,

3/01/26

-

BAM

Insured

3/25

at

100.00

AA  

24,979

35

2.900%,

3/01/28

-

BAM

Insured

3/25

at

100.00

AA  

35,158

40

3.050%,

3/01/30

-

BAM

Insured

3/25

at

100.00

AA  

40,077

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

A  

1,278,642

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

BB+  

833,550

290

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Dedicated

Revenues,

Refunding

Series

2017C,

5.000%,

12/01/30

12/27

at

100.00

BB+  

301,150

200

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Dedicated

Revenues,

Refunding

Series

2017D,

5.000%,

12/01/31

12/27

at

100.00

BB+  

207,532

300

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Dedicated

Revenues,

Refunding

Series

2018C,

5.000%,

12/01/24

No

Opt.

Call

BB+  

305,040

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

A+  

316,907

100

Chicago,

Illinois,

General

Obligation

Bonds,

Chicago

Works

Series

2023A,

5.500%,

1/01/39

1/32

at

100.00

BBB+  

108,964

Chicago,

Illinois,

General

Obligation

Bonds,

Refunding

Series

2016C:

225

5.000%,

1/01/24

No

Opt.

Call

BBB+  

227,354

190

5.000%,

1/01/25

No

Opt.

Call

BBB+  

194,440

180

5.000%,

1/01/26

No

Opt.

Call

BBB+  

186,417

100

Cook

County,

Illinois,

Sales

Tax

Revenue

Bonds,

Series

2021A,

4.000%,

11/15/41

11/30

at

100.00

AA-  

99,118

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

AA  

600,762

23

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Illinois

(continued)

$

215

Illinois

Finance

Authority,

Revenue

Bonds,

Advocate

Health

Care

Network,

Refunding

Series

2008A-2,

4.000%,

11/01/30

No

Opt.

Call

AA  

$

219,253

300

Illinois

Finance

Authority,

Revenue

Bonds,

Advocate

Health

Care

Network,

Series

2008A-1,

4.000%,

11/01/30

No

Opt.

Call

AA  

305,949

1,850

Illinois

Finance

Authority,

Revenue

Bonds,

Ascension

Health/

fkaPresence

Health

Network,

Series

2016C,

4.000%,

2/15/24

No

Opt.

Call

AA+  

1,869,073

560

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

N/R  (4)

575,518

280

Illinois

Housing

Development

Authority,

Revenue

Bonds,

Green

Series

2021B,

2.150%,

10/01/41

4/30

at

100.00

Aaa  

201,356

Illinois

State,

General

Obligation

Bonds,

February

Series

2014:

320

5.000%,

2/01/24

No

Opt.

Call

A-  

325,091

400

5.000%,

2/01/25

2/24

at

100.00

A-  

405,780

325

5.000%,

2/01/26

2/24

at

100.00

A-  

329,433

100

Illinois

State,

General

Obligation

Bonds,

November

Series

2017D,

5.000%,

11/01/28

11/27

at

100.00

A-  

108,505

400

Illinois

State,

General

Obligation

Bonds,

Refunding

September

Series

2018B,

5.000%,

10/01/32

10/28

at

100.00

A-  

436,556

Illinois

State,

General

Obligation

Bonds,

Series

2013:

280

5.500%,

7/01/25

7/23

at

100.00

A-  

281,386

240

5.500%,

7/01/26

7/23

at

100.00

A-  

241,212

535

Illinois

Toll

Highway

Authority,

Toll

Highway

Revenue

Bonds,

Refunding

Senior

Lien

Series

2016A,

5.000%,

12/01/31

1/26

at

100.00

AA-  

565,393

450

Illinois

Toll

Highway

Authority,

Toll

Highway

Revenue

Bonds,

Refunding

Senior

Lien

Series

2018A,

5.000%,

1/01/26

No

Opt.

Call

AA-  

480,897

500

Illinois

Toll

Highway

Authority,

Toll

Highway

Revenue

Bonds,

Senior

Lien

Series

2014C,

5.000%,

1/01/36

1/25

at

100.00

AA-  

515,015

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

AA  

390,021

200

4.000%,

2/01/29

-

BAM

Insured

2/28

at

100.00

AA  

213,322

395

4.000%,

2/01/30

-

BAM

Insured

2/28

at

100.00

AA  

421,149

280

Railsplitter

Tobacco

Settlement

Authority,

Illinois,

Tobacco

Settlement

Revenue

Bonds,

Series

2017,

5.000%,

6/01/25

No

Opt.

Call

A  

292,205

Southwestern

Illinois

Development

Authority,

Health

Facility

Revenue

Bonds,

Memorial

Group,

Inc.,

Series

2013:

50

7.250%,

11/01/33,

(Pre-refunded

11/01/23)

11/23

at

100.00

N/R  (4)

51,218

95

7.250%,

11/01/36,

(Pre-refunded

11/01/23)

11/23

at

100.00

N/R  (4)

97,314

200

7.625%,

11/01/48,

(Pre-refunded

11/01/23)

11/23

at

100.00

N/R  (4)

205,296

Springfield,

Illinois,

Electric

Revenue

Bonds,

Refunding

Senior

Lien

Series

2015:

255

5.000%,

3/01/33

3/25

at

100.00

A  

262,110

160

5.000%,

3/01/34

-

AGM

Insured

3/25

at

100.00

AA  

165,539

Total

Illinois

14,052,853

Indiana

-

1.4%

170

Indiana

Finance

Authority,

Educational

Facilities

Revenue

Bonds,

Earlham

College,

Refunding

Series

2013A,

5.000%,

10/01/32

10/23

at

100.00

N/R  

170,308

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

A2  

90,024

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

24

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Indiana

(continued)

$

585

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

A2  

$

598,835

80

Indiana

Finance

Authority,

Wastewater

Utility

Revenue

Bonds,

CWA

Authority

Project,

Series

2014A,

5.000%,

10/01/24

No

Opt.

Call

AA  

82,853

30

Indiana

Housing

and

Community

Development

Authority,

Single

Family

Mortgage

Revenue

Bonds,

Series

2021A,

2.050%,

7/01/41

7/30

at

100.00

Aaa  

22,862

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

Aaa  

255,801

140

Indianapolis,

Indiana,

Thermal

Energy

System

Revenue

Bonds,

Refunding

First

Lien

Series

2014A,

5.000%,

10/01/31

10/24

at

100.00

A+  

144,784

250

Vanderburgh

County,Indiana,

Redevelopment

District

Tax

Increment

Revenue

bonds,

Refunding

Series

2014,

5.000%,

2/01/29

8/24

at

100.00

A  

257,375

130

Whiting,

Indiana,

Environmental

Facilities

Refunding

Revenue

Bonds,

BP

Products

North

America

Inc.

Project,

Refunidng

Series

2019A,

5.000%,

12/01/44,

(AMT),

(Mandatory

Put

6/05/26)

No

Opt.

Call

A2  

133,009

Total

Indiana

1,755,851

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

BBB-  

194,980

100

Iowa

Finance

Authority,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021B,

2.200%,

7/01/41

7/30

at

100.00

AAA  

73,299

Total

Iowa

268,279

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

N/R  

96,197

Total

Kansas

96,197

Kentucky

-

1.8%

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

A-  

29,520

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

A1  

189,848

320

Henderson,

Kentucky,

Facilities

Revenue

Bonds,

Pratt

Paper

LLC

Project,

Series

2022B,

3.700%,

1/01/32,

(AMT)

No

Opt.

Call

N/R  

304,096

550

Kentucky

Economic

Development

Finance

Authority,

Hospital

Revenue

Bonds,

Owensboro

Health,

Refunding

Series

2017A,

5.000%,

6/01/31

6/27

at

100.00

Baa2  

569,602

125

Public

Energy

Authority

of

Kentucky,

Gas

Supply

Revenue

Bonds,

Series

2018A,

4.000%,

4/01/48,

(Mandatory

Put

4/01/24)

1/24

at

100.37

A1  

125,165

560

Public

Energy

Authority

of

Kentucky,

Gas

Supply

Revenue

Bonds,

Series

2018B,

4.000%,

1/01/49,

(Mandatory

Put

1/01/25)

10/24

at

100.24

A2  

559,782

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

A1  

422,105

25

Warren

County,

Kentucky,

Hospital

Revenue

Bonds,

Bowling

Green-

Warren

County

Community

Hospital

Corporation,

Refunding

Series

2013,

5.000%,

4/01/23,

(ETM)

No

Opt.

Call

AA-  (4)

25,000

25

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Kentucky

(continued)

$

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

AA-  

$

28,273

Total

Kentucky

2,253,391

Louisiana

-

3.0%

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

BB  

181,530

30

Louisiana

Housing

Corporation,

Single

Family

Mortgage

Revenue

Bonds,

Home

Ownership

Program,

Series

2021D,

2.350%,

12/01/41

6/30

at

100.00

Aaa  

22,602

495

Louisiana

Housing

Corporation,

Single

Family

Mortgage

Revenue

Bonds,

Home

Ownership

Program,

Series

2022A,

3.850%,

12/01/37

6/31

at

100.00

Aaa  

490,515

525

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

A  

436,574

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

BBB  

921,400

160

Louisiana

Public

Facilities

Authority,

Lousiana,

Revenue

Bonds,

Ochsner

Clinic

Foundation

Project,

Refunding

Series

2017,

5.000%,

5/15/30

5/27

at

100.00

A  

172,112

235

Louisiana

Public

Facilities

Authority,

Revenue

Bonds,

Ochsner

Clinic

Foundation

Project,

Refunding

Series

2016,

5.000%,

5/15/29

5/26

at

100.00

A  

248,599

415

Louisiana

Public

Facilities

Authority,

Revenue

Bonds,

Ochsner

Clinic

Foundation

Project,

Series

2015,

5.000%,

5/15/24

No

Opt.

Call

A  

423,981

80

Louisiana

Stadium

and

Exposition

District,

Revenue

Refunding

Bonds,

Senior

Lien

Series

2013A,

5.000%,

7/01/29

7/23

at

100.00

A2  

80,197

140

New

Orleans,

Louisiana,

General

Obligation

Bonds,

Refunding

Series

2015,

5.000%,

12/01/25

No

Opt.

Call

A+  

148,648

100

New

Orleans,

Louisiana,

Sewerage

Service

Revenue

Bonds,

Series

2015,

5.000%,

6/01/32,

(Pre-refunded

6/01/25)

6/25

at

100.00

A  (4)

105,390

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

BB-  

112,981

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

BBB-  

93,965

Shreveport,

Louisiana,

Water

and

Sewer

Revenue

Bonds,

Junior

Lien

Series

2019B:

70

5.000%,

12/01/31

-

AGM

Insured

12/28

at

100.00

AA  

78,510

165

4.000%,

12/01/33

-

AGM

Insured

12/28

at

100.00

AA  

169,150

Total

Louisiana

3,686,154

Maine

-

0.3%

100

Maine

Health

and

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

MaineHealth

Issue,

Series

2020A,

4.000%,

7/01/40

7/30

at

100.00

A+  

99,297

105

Maine

State

Housing

Authority,

Multifamily

Mortgage

Purchase

Bonds,

Series

2021A,

2.050%,

11/15/41

5/30

at

100.00

AA+  

74,053

100

Maine

State

Housing

Authority,

Multifamily

Mortgage

Purchase

Bonds,

Series

2022A,

2.400%,

11/15/41

11/30

at

100.00

AA+  

74,421

55

Maine

State

Housing

Authority,

Single

Family

Mortgage

Purchase

Bonds,

Series

2020D,

2.550%,

11/15/40

5/29

at

100.00

AA+  

42,237

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

26

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Maine

(continued)

$

140

Maine

State

Housing

Authority,

Single

Family

Mortgage

Purchase

Bonds,

Social

Series

2021C,

2.150%,

11/15/41

11/30

at

100.00

AA+  

$

100,074

Total

Maine

390,082

Maryland

-

0.9%

335

Baltimore,

Maryland,

Convention

Center

Hotel

Revenue

Bonds,

Refunding

Series

2017,

5.000%,

9/01/30

9/27

at

100.00

CCC+  

342,551

210

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

Aa1  

191,797

220

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

Aa1  

147,437

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

Aa1  

125,251

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

Aa1  

303,028

Total

Maryland

1,110,064

Massachusetts

-

0.8%

200

Massachusetts

Development

Finance

Agency

Revenue

Bonds,

Lawrence

General

Hospital

Issue,

Series

2014A,

5.000%,

7/01/27

7/24

at

100.00

B-  

194,340

100

Massachusetts

Development

Finance

Agency

Revenue

Refunding

Bonds,

NewBridge

on

the

Charles,

Inc.

Issue,

Series

2017,

4.000%,

10/01/32,

144A

4/23

at

105.00

BB+  

97,834

120

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

N/R  (4)

139,262

65

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2018J-2,

5.000%,

7/01/33

7/28

at

100.00

A  

71,730

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

B+  

98,927

35

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Southcoast

Health

System

Obligated

Group

Issue,

Series

2021G,

5.000%,

7/01/37

7/31

at

100.00

A-  

37,690

115

Massachusetts

Housing

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2019-214,

2.800%,

12/01/39

6/29

at

100.00

AA+  

96,410

70

Massachusetts

Housing

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2020-220,

2.125%,

12/01/40

6/30

at

100.00

AA+  

52,624

65

Massachusetts

Housing

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021-221,

2.200%,

12/01/41

6/30

at

100.00

AA+  

48,493

65

Massachusetts

Housing

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021-223,

2.350%,

6/01/39

12/30

at

100.00

AA+  

50,112

100

Massachusetts

State,

General

Obligation

Bonds,

Refunding

Series

2020A,

5.000%,

6/01/44,

(Mandatory

Put

6/01/23)

No

Opt.

Call

Aa1  

100,390

Total

Massachusetts

987,812

Michigan

-

2.3%

400

Detroit

Downtown

Development

Authority,

Michigan,

Tax

Increment

Bonds,

Development  Area

1

Projects,

Refunding

Series

1996B,

0.000%,

7/01/23

No

Opt.

Call

BB+  

394,996

185

Detroit,

Michigan,

Senior

Lien

Sewerage

Disposal

System

Revenue

Bonds,

Series

2001B,

5.500%,

7/01/29

-

NPFG

Insured

No

Opt.

Call

A+  

202,841

27

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Michigan

(continued)

$

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

A+  

$

155,601

500

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

AA-  

551,410

50

Michigan

Housing

Development

Authority,

Rental

Housing

Revenue

Bonds,

Series

2018A,

3.800%,

10/01/38

10/27

at

100.00

AA+  

49,156

270

Michigan

Housing

Development

Authority,

Rental

Housing

Revenue

Bonds,

Series

2021A,

2.250%,

10/01/41

10/30

at

100.00

AA+  

195,329

265

Michigan

Housing

Development

Authority,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019B,

2.700%,

12/01/34

12/28

at

100.00

AA+  

238,556

360

Michigan

Housing

Development

Authority,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020C,

2.600%,

12/01/40

6/30

at

100.00

AA+  

282,269

125

Michigan

Housing

Development

Authority,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021A,

2.150%,

12/01/41

12/30

at

100.00

AA+  

89,941

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

BB  

24,679

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

A1  

727,722

Total

Michigan

2,912,500

Minnesota

-

0.6%

200

Minneapolis-St.

Paul

Metropolitan

Airports

Commission,

Minnesota,

Airport

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2014A,

5.000%,

1/01/32

1/24

at

100.00

A+  

202,780

73

Minnesota

Housing

Finance

Agency,

Homeownership

Finance

Bonds,

Mortgage-Backed

Securities

Program,

Series

2017E,

2.850%,

6/01/47

7/26

at

100.00

Aaa  

68,691

105

Minnesota

Housing

Finance

Agency,

Residential

Housing

Finance

Bonds,

Series

2020E,

2.500%,

7/01/40

7/29

at

100.00

AA+  

87,068

70

Minnesota

Housing

Finance

Agency,

Residential

Housing

Finance

Bonds,

Series

2020I,

2.000%,

7/01/40

1/30

at

100.00

AA+  

53,442

100

Minnesota

Housing

Finance

Agency,

Residential

Housing

Finance

Bonds,

Series

2021D,

2.200%,

7/01/41

7/30

at

100.00

AA+  

75,090

115

Minnesota

Housing

Finance

Agency,

Residential

Housing

Finance

Bonds,

Series

2021H,

2.350%,

7/01/41

1/31

at

100.00

AA+  

94,775

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

AAA  

166,868

Total

Minnesota

748,714

Mississippi

-

0.2%

130

Mississippi

Business

Finance

Corporation,

Pollution

Control

Revenue,

Mississippi

Power,

Series

2002,

3.200%,

9/01/28

3/24

at

100.00

A-  

130,082

30

Mississippi

Home

Corporation,

Single

Family

Mortgage

Revenue

Bonds,

Series

2021A,

2.000%,

12/01/40

6/30

at

100.00

Aaa  

21,174

45

Mississippi

State,

Gaming

Tax

Revenue

Bonds,

Series

2019A,

5.000%,

10/15/23

No

Opt.

Call

A+  

45,500

Total

Mississippi

196,756

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

28

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Missouri

-

0.2%

$

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

N/R  

$

96,823

100

Missouri

Health

and

Educational

Facilities

Authority,

Educational

Facilities

Revenue

Bonds,

Saint

Louis

College

of

Pharmacy,

Series

2013,

5.250%,

5/01/33

5/23

at

100.00

BBB-  

100,187

30

Missouri

Health

and

Educational

Facilities

Authority,

Educational

Facilities

Revenue

Bonds,

Saint

Louis

College

of

Pharmacy,

Series

2015B,

4.000%,

5/01/32

11/23

at

100.00

BBB-  

30,222

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

AA+  

43,879

Total

Missouri

271,111

Montana

-

0.4%

260

Billings,

Montana,

Tax

Increment

Urban

Renewal

Revenue

Bonds,

Expanded

North

27th

Street,

Series

2013A,

5.000%,

7/01/33

5/23

at

100.00

N/R  

260,081

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

A1  

287,397

25

Montana

Board

of

Housing,

Single

Family

Mortgage

Bonds,

Series

2021B,

2.000%,

12/01/41

12/30

at

100.00

AA+  

17,260

Total

Montana

564,738

National

-

0.0%

68

Freddie

Mac

Multi-Family

ML

Certificates,

Series

ML

08,

Series

2021,

1.877%,

7/25/37

2021

No

Opt.

Call

AA+  

53,399

Total

National

53,399

Nebraska

-

0.9%

100

Central

Plains

Energy

Project,

Nebraska,

Gas

Project

4

Revenue

Bonds,

Series

2018A,

5.000%,

3/01/50,

(Mandatory

Put

1/01/24)

10/23

at

100.43

A2  

100,704

75

Nebraska

Investment

Finance

Authority,

Single

Family

Housing

Revenue

Bonds,

Series

2019D,

2.600%,

9/01/34

3/29

at

100.00

AA+  

67,690

515

Nebraska

Investment

Finance

Authority,

Single

Family

Housing

Revenue

Bonds,

Series

2020A,

2.300%,

9/01/32

3/29

at

100.00

AA+  

474,717

230

Nebraska

Investment

Finance

Authority,

Single

Family

Housing

Revenue

Bonds,

Series

2021C,

2.300%,

9/01/41

9/30

at

100.00

AA+  

167,534

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

AA-  

106,362

100

Sarpy

County,

Nebraska,

Limited

Tax

Highway

Allocation

Fund

Pledge

Bonds,

Series

2021,

2.000%,

6/01/27

6/26

at

100.00

Aaa  

96,807

140

Saunders

County

School

District

1,

Ashland-Greenwood,

Nebraska,

General

Obligation

Bonds,

Series

2021,

2.000%,

12/15/50

12/30

at

100.00

A+  

83,608

Total

Nebraska

1,097,422

Nevada

-

0.5%

200

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

AA+  (4)

204,166

185

Director

of

Nevada

State

Department

of

Business

and

Industry,

Revenue

Bonds,

Brightline

West

Passenger

Rail

Project,

Series

2020A,

3.700%,

1/01/50,

(AMT),

(Mandatory

Put

1/31/24)

5/23

at

100.00

N/R  

185,185

65

Las

Vegas

Convention

and

Visitors

Authority,

Nevada,

Revenue

Bonds,

Refunding

Series

2017B,

4.000%,

7/01/34

7/27

at

100.00

Aa3  

66,488

29

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Nevada

(continued)

$

100

Nevada

Housing

Division,

Single

Family

Housing

Mortgage

Revenue

Bonds,

Refunding

Series

2021A,

2.200%,

10/01/41

10/30

at

100.00

AA+  

$

77,950

65

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

Ba1  

58,848

Total

Nevada

592,637

New

Hampshire

-

1.0%

248

National

Finance

Authority,

New

Hampshire,

Municipal

Certificates

Series

2020-1

Class

A,

4.125%,

1/20/34

No

Opt.

Call

BBB  

247,375

401

National

Finance

Authority,

New

Hampshire,

Municipal

Certificates

Series

2022-1

Class

A,

4.375%,

9/20/36

2022

No

Opt.

Call

BBB  

397,587

149

National

Finance

Authority,

New

Hampshire,

Municipal

Certificates

Series

2022-2

Class

A,

4.000%,

10/20/36

2022

No

Opt.

Call

BBB  

142,783

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

A-  

301,172

125

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

N/R  (4)

129,291

Total

New

Hampshire

1,218,208

New

Jersey

-

5.8%

535

Camden

County

Improvement

Authority,

New

Jersey,

Health

Care

Redevelopment

Revenue

Bonds,

Cooper

Health

System

Obligated

Group

Issue,

Refunding

Series

2014A,

5.000%,

2/15/30

2/24

at

100.00

A-  

541,040

130

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

N/R  (4)

131,850

220

New

Jersey

Economic

Development

Authority,

Private

Activity

Bonds,

The

Goethals

Bridge

Replacement

Project,

Series

2013,

5.000%,

1/01/28,

(AMT)

1/24

at

100.00

A2  

222,039

1,000

New

Jersey

Economic

Development

Authority,

School

Facilities

Construction

Bonds,

Refunding

Series

2015XX,

5.000%,

6/15/27

6/25

at

100.00

A3  

1,042,660

200

New

Jersey

Economic

Development

Authority,

Special

Facilities

Revenue

Bonds,

Continental

Airlines

Inc.,

Series

1999,

5.250%,

9/15/29,

(AMT)

5/23

at

101.00

BB-  

200,376

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

A+  

220,922

220

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

Aaa  

218,068

New

Jersey

State,

General

Obligation

Bonds,

Covid-19

Emergency

Series

2020A:

500

4.000%,

6/01/30

No

Opt.

Call

A2  

552,415

150

4.000%,

6/01/31

No

Opt.

Call

A2  

167,071

200

4.000%,

6/01/32

No

Opt.

Call

A2  

224,040

1,280

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Capital

Appreciation

Series

2010A,

0.000%,

12/15/33

No

Opt.

Call

A3  

877,005

1,590

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2010D,

5.000%,

12/15/23

No

Opt.

Call

A3  

1,611,481

175

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019AA,

3.750%,

6/15/33

12/28

at

100.00

A3  

177,006

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

30

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

New

Jersey

(continued)

$

70

Salem

County

Pollution

Control

Financing

Authority,

New

Jersey,

Pollution

Control

Revenue

Bonds,

Chambers

Project,

Refunding

Series

2014A,

5.000%,

12/01/23,

(AMT),

(ETM)

No

Opt.

Call

N/R  (4)

$

70,638

895

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018A,

5.000%,

6/01/29

6/28

at

100.00

A  

970,780

Total

New

Jersey

7,227,391

New

Mexico

-

0.4%

45

New

Mexico

Mortgage

Finance

Authority,

Single

Family

Mortgage

Program

Bonds,

Class

1

Series

2019D,

2.800%,

7/01/34

1/29

at

100.00

Aaa  

42,637

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

Aaa  

75,211

325

New

Mexico

Municipal

Energy

Acquisition

Authority,

Gas

Supply

Revenue

Bonds,

Refunding

&

Acquisition

Sub-Series

2019A,

5.000%,

11/01/39,

(Mandatory

Put

5/01/25)

2/25

at

100.73

Aa1  

333,837

Total

New

Mexico

451,685

New

York

-

4.7%

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Catholic

Health

System,

Inc.

Project,

Series

2015:

210

5.000%,

7/01/23

No

Opt.

Call

B-  

209,238

205

5.000%,

7/01/24

No

Opt.

Call

B-  

200,322

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

N/R  

98,624

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

BBB-  

205,902

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

BBB+  

786,315

170

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A,

0.000%,

6/01/24

-

AGM

Insured

No

Opt.

Call

AA  

164,494

120

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Green

Climate

Certified

Series

2020E,

5.000%,

11/15/33

11/30

at

100.00

A3  

132,348

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

N/R  

50,299

105

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)

4/23

at

100.00

AA+  

101,039

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

AA  

21,267

135

3.000%,

1/01/33

-

AGM

Insured

1/31

at

100.00

AA  

130,274

350

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2021

Series

A-1,

5.000%,

8/01/29

No

Opt.

Call

AA  

406,172

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

Aa2  

101,544

215

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

Aa2  

190,922

31

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

New

York

(continued)

$

215

New

York

State

Housing

Finance

Agency,

Affordable

Housing

Revenue

Bonds,

Refunding

Series

2019C,

3.500%,

11/01/34

5/28

at

100.00

Aa2  

$

211,874

120

New

York

State

Mortgage

Agency,

Homeowner

Mortgage

Revenue

Bonds,

Series

223,

2.650%,

10/01/34

10/28

at

100.00

Aa1  

106,781

100

New

York

State

Mortgage

Agency,

Homeowner

Mortgage

Revenue

Bonds,

Series

225,

2.300%,

10/01/40

10/29

at

100.00

Aa1  

73,691

75

New

York

State

Mortgage

Agency,

Homeowner

Mortgage

Revenue

Bonds,

Series

233,

2.200%,

4/01/36

4/30

at

100.00

Aa1  

59,480

245

New

York

State

Mortgage

Agency,

Homeowner

Mortgage

Revenue

Bonds,

Social

Series

239,

2.450%,

10/01/41

10/30

at

100.00

Aa1  

182,091

245

New

York

State

Mortgage

Agency,

Homeowner

Mortgage

Revenue

Bonds,

Social

Series

242,

2.950%,

10/01/37

4/31

at

100.00

Aa1  

211,308

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A:

135

4.000%,

7/01/32,

(AMT)

7/24

at

100.00

Baa2  

135,242

230

4.000%,

7/01/33,

(AMT)

7/24

at

100.00

Baa2  

230,241

180

5.000%,

7/01/34,

(AMT)

7/24

at

100.00

Baa2  

182,662

625

5.000%,

7/01/41,

(AMT)

7/24

at

100.00

Baa2  

627,094

70

4.000%,

7/01/46

-

AGM

Insured,

(AMT)

7/24

at

100.00

AA  

65,574

150

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)

4/23

at

100.00

B  

150,101

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

Baa1  

545,740

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

N/R  

123,491

115

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

N/R  

107,435

Total

New

York

5,811,565

North

Carolina

-

1.4%

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

AA+  

70,822

1,340

North

Carolina

Municipal

Power

Agency

1,

Catawba

Electric

Revenue

Bonds,

Series

2015C,

5.000%,

1/01/29

1/26

at

100.00

A  

1,425,010

250

North

Carolina

Turnpike

Authority,

Monroe

Expressway

Toll  Revenue

Bonds,

Capital

Appreciation

Series

2017C,

0.000%,

7/01/27

7/26

at

96.08

BBB  

210,405

Total

North

Carolina

1,706,237

North

Dakota

-

1.0%

270

Horace,

Cass

County,

North

Dakota,

General

Obligation

Bonds,

Refunding

Improvement

Series

2021,

3.000%,

5/01/46

5/27

at

100.00

Baa2  

200,840

55

North

Dakota

Housing

Finance

Agency,

Home

Mortgage

Finance

Program

Bonds,

Series

2019C,

3.200%,

7/01/39

7/28

at

100.00

Aa1  

51,344

55

North

Dakota

Housing

Finance

Agency,

Home

Mortgage

Finance

Program

Bonds,

Series

2020A,

2.700%,

7/01/35

7/29

at

100.00

Aa1  

52,014

95

North

Dakota

Housing

Finance

Agency,

Home

Mortgage

Finance

Program

Bonds,

Series

2020B,

2.350%,

7/01/40

1/30

at

100.00

Aa1  

74,470

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

32

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

North

Dakota

(continued)

$

100

North

Dakota

Housing

Finance

Agency,

Home

Mortgage

Finance

Program

Bonds,

Series

2021A,

2.250%,

7/01/41

7/30

at

100.00

Aa1  

$

73,925

500

North

Dakota

Housing

Finance

Agency,

Home

Mortgage

Finance

Program

Bonds,

Social

Series

2022F,

3.950%,

7/01/37

1/32

at

100.00

Aa1  

502,185

Ward

County

Health

Care,

North

Dakota,

Revenue

Bonds,

Trinity

Obligated

Group,

Series

2017C:

200

5.000%,

6/01/28

No

Opt.

Call

BB+  

198,356

100

5.000%,

6/01/43

6/28

at

100.00

BB+  

87,736

Total

North

Dakota

1,240,870

Ohio

-

6.0%

100

American

Municipal

Power

Inc.,

Ohio,

Fremont

Energy

Center

Revenue

Bonds,

Refunding

Series

2021A,

5.000%,

2/15/34

2/31

at

100.00

A1  

114,846

Buckeye

Tobacco

Settlement

Financing

Authority,

Ohio,

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A-2

Class

1:

155

5.000%,

6/01/28

No

Opt.

Call

A  

167,161

75

5.000%,

6/01/30

No

Opt.

Call

A  

82,330

330

5.000%,

6/01/31

6/30

at

100.00

A  

360,951

515

5.000%,

6/01/35

6/30

at

100.00

A-  

552,786

100

5.000%,

6/01/36

6/30

at

100.00

A-  

106,468

100

4.000%,

6/01/48

6/30

at

100.00

BBB+  

88,381

300

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

N/R  

272,037

200

County

of

Washington,

Ohio,

Hospital

Facilities

Revenue

Bonds,

Series

2022,

(Memorial

Health

System

Obligated

Group),

6.375%,

12/01/37

12/32

at

100.00

N/R  

204,218

480

Fairfield

County,

Ohio,

Hospital

Facilities

Revenue

Bonds,

Fairfield

Medical

Center

Project,

Series

2013,

5.000%,

6/15/43

6/23

at

100.00

Ba3  

466,214

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

A+  

16,584

45

Ohio

Air

Quality

Development

Authority,

Ohio,

Air

Quality

Development

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Series

2009A,

5.700%,

8/01/23

No

Opt.

Call

N/R  

56

100

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Refunding

Series

2009B,

3.100%,

9/01/23

No

Opt.

Call

N/R  

125

425

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Project,

Refunding

Series

2006A,

3.750%,

12/01/23

(6)

No

Opt.

Call

N/R  

531

90

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generation

Corporation

Project,

Refunding

Series

2010A,

3.125%,

7/01/33

(6)

No

Opt.

Call

N/R  

112

130

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generation

Project,

Refunding

Series

2006B,

3.625%,

12/01/33

(6)

No

Opt.

Call

N/R  

163

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

BBB+  

326,163

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

BBB+  

199,724

33

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Ohio

(continued)

$

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

BBB+  

$

310,681

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

BBB+  

89,323

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

BBB+  

97,075

350

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

A3  

353,195

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

BBB  

201,902

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

N/R  

43,768

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

A3  

50,685

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

Aaa  

91,022

65

Ohio

Housing

Finance

Agency,

Residential

Mortgage

Revenue

Bonds,

Mortgage-Backed

Securities

Program,

Series

2020A,

2.750%,

9/01/40

3/29

at

100.00

Aaa  

57,915

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

Aaa  

20,105

2,515

Ohio

State,

Turnpike

Revenue

Bonds,

Ohio

Turnpike

and

Infrastructure

Commission

Infrastructure

Projects,

Junior

Lien,

Capital

Appreciation

Series

2013A-3,

5.700%,

2/15/34

2/31

at

100.00

Aa3  

3,041,012

120

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generating

Corporation

Project,

Refunding

Series

2006A,

3.000%,

5/15/49

(6)

No

Opt.

Call

N/R  

150

230

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Refunding

Series

2005B,

4.000%,

1/01/34

(6)

No

Opt.

Call

N/R  

288

110

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Refunding

Series

2008B,

3.625%,

10/01/33

No

Opt.

Call

N/R  

137

220

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Refunding

Series

2010A,

3.750%,

7/01/33

(6)

No

Opt.

Call

N/R  

275

235

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Refunding

Series

2010C,

4.000%,

6/01/33

No

Opt.

Call

N/R  

294

110

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2006B,

4.000%,

12/01/33

(6)

No

Opt.

Call

N/R  

138

100

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

A-  

80,347

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

N/R  

69,984

Total

Ohio

7,467,146

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

34

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

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

A  

$

80,228

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

A  

114,790

800

Caddo

County

Governmental

Building

Authority,

Oklahoma,

Sales

Tax

Revenue

Bonds,

Refunding

Series

2018,

3.625%,

9/01/33

9/28

at

100.00

BBB+  

781,424

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

Aa3  

105,683

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

A  

278,010

Oklahoma

Development

Finance

Authority,

Health

System

Revenue

Bonds,

OU

Medicine

Project,

Series

2018B:

230

5.000%,

8/15/28

No

Opt.

Call

BB-  

227,960

200

5.500%,

8/15/57

8/28

at

100.00

BB-  

191,602

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

N/R  

96,818

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

Aaa  

44,178

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

Aaa  

493,758

110

Tulsa

County

Industrial

Authority,

Oklahoma,

Educational

Facilities

Lease

Revenue

Bonds,

Broken

Arrow

Public

Schools

Project,

Series

2021A,

4.000%,

9/01/31

No

Opt.

Call

A1  

117,448

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

A-  

178,267

Total

Oklahoma

2,710,166

Oregon

-

1.4%

1,265

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

AA+  

932,330

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

AA-  

391,437

95

Oregon

Housing

and

Community

Services

Department,

Single

Family

Mortgage

Revenue

Bonds,

Series

2021A,

2.250%,

7/01/41

7/30

at

100.00

Aa2  

72,245

360

Oregon

State  Business

Development

Commission,

Recovery

Zone

Facility

Revenue

Bonds,

Intel

Corporation

Project,

232

Series

2010,

2.400%,

12/01/40,

(Mandatory

Put

8/14/23)

No

Opt.

Call

A  

358,301

Total

Oregon

1,754,313

Pennsylvania

-

4.4%

100

Allegheny

County

Higher

Education

Building

Authority,

Pennsylvania,

Revenue

Bonds,

Carnegie

Mellon

University,

Series

2020A,

5.000%,

2/01/30

No

Opt.

Call

AA  

116,799

35

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Pennsylvania

(continued)

$

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

Ba3  

$

102,424

220

Beaver

County

Industrial

Development

Authority,

Pennsylvania,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generation

Project,

Refunding

Series

2008A,

2.700%,

4/01/35

(6)

No

Opt.

Call

N/R  

275

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

B  

84,169

145

4.000%,

11/01/32

11/27

at

100.00

B  

90,223

125

3.750%,

11/01/42

11/27

at

100.00

B  

63,259

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

B  

264,726

330

Commonwealth

Financing

Authority,

Pennsylvania,

State

Appropriation

Lease

Bonds,

Master

Settlement,

Series

2018,

4.000%,

6/01/39

-

AGM

Insured

6/28

at

100.00

AA  

325,882

350

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

A+  

352,614

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

A+  

207,859

5

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

Shippingport

Project,

First

Energy

Guarantor.,

Series

2006A,

2.550%,

11/01/41

(6)

No

Opt.

Call

N/R  

6

500

Pennsylvania

Economic

Development

Financing

Authority,

Parking

System

Revenue

Bonds,

Capitol

Region

Parking

System,

Junior

Guaranteed

Series

2013B,

5.500%,

1/01/27

1/24

at

100.00

AA  

509,775

250

Pennsylvania

Economic

Development

Financing

Authority,

Parking

System

Revenue

Bonds,

Capitol

Region

Parking

System,

Junior

Insured

Series

2013C,

5.500%,

1/01/26

-

AGM

Insured

1/24

at

100.00

AA  

255,017

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

BBB  

236,951

150

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

LaSalle

University,

Series

2012,

5.000%,

5/01/42

5/23

at

100.00

BB+  

121,926

250

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2017-125A,

3.400%,

10/01/32,

(AMT)

4/27

at

100.00

AA+  

241,990

25

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019-128A,

3.650%,

10/01/32,

(AMT)

10/27

at

100.00

AA+  

24,791

155

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019-129,

2.950%,

10/01/34

10/28

at

100.00

AA+  

143,580

150

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020-132A,

2.300%,

10/01/35

10/29

at

100.00

AA+  

126,775

200

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020-133,

2.350%,

10/01/40

10/29

at

100.00

AA+  

149,594

200

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2022-1394A,

4.000%,

10/01/37

4/32

at

100.00

AA+  

200,616

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Refunding

Subordinate

Second

Series

2016B-2:

405

5.000%,

6/01/29

6/26

at

100.00

A  

431,256

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

36

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Pennsylvania

(continued)

$

860

5.000%,

6/01/35

6/26

at

100.00

A  

$

901,917

350

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Refunding

Subordinate

Third

Series

2017,

5.000%,

12/01/32

12/27

at

100.00

A  

382,739

80

Scranton,

Lackawanna

County,

Pennsylvania,

General

Obligation

Notes,

Series

2016,

5.000%,

11/15/26

5/24

at

100.00

BB+  

80,445

40

Scranton-Lackawanna

Health

and

Welfare

Authority,

Pennsylvania,

University

Revenue

Bonds,

Marywood

University,

Series

2016,

3.375%,

6/01/26

No

Opt.

Call

BB+  

37,897

Total

Pennsylvania

5,453,505

Puerto

Rico

-

2.6%

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A:

250

5.000%,

7/01/30,

144A

No

Opt.

Call

N/R  

252,553

260

5.000%,

7/01/35,

144A

7/30

at

100.00

N/R  

257,631

95

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Senior

Lien

Series

2008A,

6.125%,

7/01/24

No

Opt.

Call

CCC  

96,286

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1:

591

0.000%,

7/01/27

No

Opt.

Call

N/R  

486,304

85

0.000%,

7/01/29

7/28

at

98.64

N/R  

63,411

634

0.000%,

7/01/31

7/28

at

91.88

N/R  

423,709

362

0.000%,

7/01/33

7/28

at

86.06

N/R  

217,721

207

4.500%,

7/01/34

7/25

at

100.00

N/R  

204,826

100

5.000%,

7/01/58

7/28

at

100.00

N/R  

94,417

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2:

78

4.329%,

7/01/40

7/28

at

100.00

N/R  

71,178

179

4.329%,

7/01/40

7/28

at

100.00

N/R  

163,345

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1:

320

5.625%,

7/01/27

No

Opt.

Call

N/R  

330,989

100

5.625%,

7/01/29

No

Opt.

Call

N/R  

104,560

119

5.750%,

7/01/31

No

Opt.

Call

N/R  

126,443

199

0.000%,

7/01/33

7/31

at

89.94

N/R  

113,030

177

4.000%,

7/01/33

7/31

at

103.00

N/R  

159,502

50

4.000%,

7/01/35

7/31

at

103.00

N/R  

43,704

Total

Puerto

Rico

3,209,609

Rhode

Island

-

0.6%

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

BB-  

95,458

200

Rhode

Island

Health

and

Educational

Building

Corporation,

Revenue

Bonds,

Care

New

England

Health

System,

Series

2013A,

5.500%,

9/01/28,

(Pre-refunded

9/01/23)

9/23

at

100.00

N/R  (4)

202,348

180

Rhode

Island

Housing

&

Mortgage

Finance

Corporation,

Homeownership

Opportunity

Bond

Program,

2021

Series

75A,

2.250%,

10/01/41

4/30

at

100.00

AA+  

132,084

205

Rhode

Island

Housing

&

Mortgage

Finance

Corporation,

Homeownership

Opportunity

Bond

Program,

2022

Series

76A,

2.350%,

10/01/36

4/31

at

100.00

AA+  

167,956

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

AA+  

40,139

37

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Rhode

Island

(continued)

$

125

Rhode

Island

Tobacco

Settlement

Financing

Corporation,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2015B,

4.500%,

6/01/45

6/25

at

100.00

N/R  

$

123,654

Total

Rhode

Island

761,639

South

Carolina

-

0.2%

130

Patriots

Energy

Group

Financing

Agency,

South

Carolina,

Gas

Supply

Revenue

Bonds,

Series

2018A,

4.000%,

10/01/48,

(Mandatory

Put

2/01/24)

11/23

at

100.30

Aa1  

130,233

170

South

Carolina

Housing

Finance

and

Development

Authority,

Mortgage

Revenue

Bonds,

Series

2021A,

2.050%,

7/01/41

7/30

at

100.00

Aaa  

120,895

Total

South

Carolina

251,128

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

AAA  

54,967

100

South

Dakota

Housing

Development

Authority,

Homeownership

Mortgage

Revenue

Bonds,

Series

2021B,

2.050%,

11/01/41

5/30

at

100.00

AAA  

72,332

110

South

Dakota

Housing

Development

Authority,

Homeownership

Mortgage

Revenue

Bonds,

Series

2022B,

2.300%,

11/01/37

11/30

at

100.00

AAA  

91,936

Total

South

Dakota

219,235

Tennessee

-

1.2%

125

Tennergy

Corporation,

Tennessee,

Gas

Revenue

Bonds,

Series

2021A,

4.000%,

12/01/51,

(Mandatory

Put

9/01/28)

6/28

at

100.68

A1  

123,179

165

Tennergy

Corporation,

Tennessee,

Gas

Revenue

Bonds,

Series

2022A,

5.500%,

10/01/53,

(Mandatory

Put

12/01/30)

9/30

at

100.10

Baa1  

175,273

70

Tennessee

Housing

Development

Agency,

Residential

Finance

Program

Bonds,

Series

2021-3,

2.300%,

7/01/41

1/31

at

100.00

AA+  

51,821

100

Tennessee

Housing

Development

Agency,

Residential

Finance

Program

Bonds,

Series

2022-2,

4.050%,

7/01/37

7/31

at

100.00

AA+  

101,114

100

The

Tennessee

Energy

Acquisition

Corporation,

Gas

Revenue

Bonds,

Commodity

Project,  Series

2021A,

5.000%,

5/01/52,

(Mandatory

Put

11/01/31)

8/31

at

100.85

A2  

104,405

920

The

Tennessee

Energy

Acquisition

Corporation,

Gas

Revenue

Bonds,

Series

2006C,

4.000%,

5/01/48,

(Pre-refunded

5/01/23),

(Mandatory

Put

5/01/23)

5/23

at

100.00

A  (4)

920,901

Total

Tennessee

1,476,693

Texas

-

4.8%

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

BB+  

41,504

55

5.000%,

1/01/30

1/27

at

100.00

BB+  

57,004

1,000

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

A-  (4)

1,054,210

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

A  

27,485

130

Fort

Bend

County

Industrial

Development

Corporation,

Texas,

Revenue

Bonds,

NRG

Energy

Inc.

Project,

Series

2012B,

4.750%,

11/01/42

5/23

at

100.00

Baa2  

127,890

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

A+  

121,787

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

38

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Texas

(continued)

$

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

AA  

$

399,326

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

Baa2  

247,645

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

BB-  

50,044

500

Houston,

Texas,

Hotel

Occupancy

Tax

and

Special

Revenue

Bonds,

Convention

and

Entertainment

Project,

Series

2001B,

0.000%,

9/01/23

-

AMBAC

Insured

No

Opt.

Call

A  

493,230

430

Love

Field

Airport

Modernization

Corporation,

Texas,

General

Airport

Revenue

Bonds

Series

2015,

5.000%,

11/01/28,

(AMT)

11/25

at

100.00

A1  

446,942

McCamey

County

Hospital

District,

Texas,

General

Obligation

Bonds,

Series

2013:

75

5.000%,

12/01/25

No

Opt.

Call

B1  

75,889

100

5.250%,

12/01/28

12/25

at

100.00

B1  

102,111

100

Mission

Economic

Development

Corporation,

Texas,

Revenue

Bonds,

Natgasoline

Project,

Senior

Lien

Series

2018,

4.625%,

10/01/31,

(AMT),

144A

4/23

at

104.00

BB-  

97,768

North

Texas

Tollway

Authority,

Special

Projects

System

Revenue

Bonds,

Convertible

Capital

Appreciation

Series

2011C:

245

0.000%,

9/01/43,

(Pre-refunded

9/01/31)

(5)

9/31

at

100.00

N/R  (4)

313,108

490

6.750%,

9/01/45,

(Pre-refunded

9/01/31)

9/31

at

100.00

N/R  (4)

648,147

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

7/23

at

103.00

N/R  

71,837

300

2.875%,

1/01/41,

(AMT),

144A

7/23

at

103.00

N/R  

198,975

100

3.000%,

1/01/50,

(AMT),

144A

7/23

at

103.00

N/R  

59,547

100

Round

Rock,

Texas,

Combined

Tax

and

Revenue

Certificates

of

Obligation,

Series

2021C,

2.000%,

8/15/46

8/30

at

100.00

AAA  

60,611

215

Tarrant

County

Cultural

Education

Facilities

Finance

Corporation,

Texas,

Revenue

Bonds,

Christus

Health,

Series

2022A,

5.000%,

7/01/53,

(Mandatory

Put

7/01/32)

1/32

at

100.00

A1  

243,558

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

Aaa  

71,974

Texas

Private

Activity

Bond

Surface

Transporation

Corporation,

Revenue

Bonds,

NTE

Mobility

Partners

LLC

North

Tarrant

Express

Managed

Lanes

Project,

Refunding

Senior

Lien

Series

2019A:

315

4.000%,

12/31/38

12/29

at

100.00

Baa2  

296,113

125

4.000%,

12/31/39

12/29

at

100.00

Baa2  

116,081

100

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%,

6/30/32

12/30

at

100.00

Baa2  

101,348

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

A-  

507,215

Total

Texas

6,031,349

39

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Virginia

-

1.3%

$

200

Chesapeake

Industrial

Development

Authority,

Virginia,

Pollution

Control

Revenue

Bonds,

Virginia

Electric

and

Power

Company

Project,

Refunding

Series

2008A,

1.900%,

2/01/32,

(Mandatory

Put

6/01/23)

No

Opt.

Call

A2  

$

199,358

170

Louisa

Industrial

Development

Authority,

Virginia,

Pollution

Control

Revenue

Bonds,

Virginia

Electric

and

Power

Company,

Refunding

Series

2008A,

1.900%,

11/01/35,

(Mandatory

Put

6/01/23)

No

Opt.

Call

A2  

169,455

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

BBB  

264,370

150

5.000%,

1/01/38,

(AMT)

1/32

at

100.00

BBB  

156,279

115

5.000%,

12/31/38,

(AMT)

12/32

at

100.00

Baa1  

121,563

445

5.000%,

12/31/39,

(AMT)

12/32

at

100.00

Baa1  

467,161

140

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

A2  

129,157

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

A2  

101,665

Total

Virginia

1,609,008

Washington

-

2.0%

1,000

Port

of

Seattle,

Washington,

Revenue

Bonds,

Intermediate

Lien

Series

2015C,

5.000%,

4/01/23,

(AMT)

No

Opt.

Call

AA-  

1,000,000

Port

of

Seattle,

Washington,

Revenue

Bonds,

Refunding

Intermediate

Lien

Private

Activity

Series

2022B:

100

5.000%,

8/01/29,

(AMT)

No

Opt.

Call

AA-  

110,881

260

5.000%,

8/01/31,

(AMT)

No

Opt.

Call

AA-  

295,126

100

Washington

State

Housing

Finance

Commission,

Single

Family

Program

Bonds,

Series

2021-1N,

2.200%,

6/01/41

6/30

at

100.00

Aaa  

74,425

336

Washington

State

Housing

Finance

Commission,

Social

Municipal

Certificates

Multifamily

Revenue

Bonds,

Series

2021-1

Class

A,

3.500%,

12/20/35

2021

No

Opt.

Call

BBB+  

315,345

200

Washington

State,

General

Obligation

Bonds,

Various

Purpose

Refunding

Series

R-2022C,

4.000%,

7/01/27

No

Opt.

Call

Aaa  

214,022

595

Whidbey

Island

Public

Hospital

District,

Island

County,

Washington,

General

Obligation

Bonds,

Whidbey

General

Hospital,

Series

2013,

5.500%,

12/01/33

4/23

at

100.00

Ba3  

532,257

Total

Washington

2,542,056

West

Virginia

-

0.4%

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

N/R  

99,619

155

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

A-  

141,998

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

Baa1  

81,843

240

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

A  

241,858

Total

West

Virginia

565,318

Nuveen

Select

Maturities

Municipal

Fund

(continued)

Portfolio

of

Investments

March

31,

2023

40

NIM

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Wisconsin

-

3.1%

$

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

N/R  

$

524,862

340

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

Aa3  

350,309

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

A-  

332,409

Public

Finance

Authority,

Wisconsin,

Exempt

Facilities

Revenue

Bonds,

Celanese

Project,

Refunding

Series

2016C:

65

4.050%,

11/01/30

5/26

at

100.00

BBB-  

62,331

175

4.300%,

11/01/30

5/26

at

100.00

BBB-  

170,576

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

N/R  

31,782

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

AA-  

83,831

150

Wisconsin

Health

and

Educational

Facilities

Authority,

Wisconsin,

Revenue

Bonds,

Marshfield

Clinic

Health

System,

Inc.,

Series

2020B-1,

5.000%,

2/15/52,

(Mandatory

Put

2/15/25)

8/24

at

100.00

BBB+  

153,022

1,535

Wisconsin

Health

and

Educational

Facilities

Authority,

Wisconsin,

Revenue

Bonds,

ThedaCare

Inc,

Series

2015,

5.000%,

12/15/26

12/24

at

100.00

AA-  

1,590,414

555

Wisconsin

Housing

and

Ecconomic

Development

Authority,

Home

Ownership

Revenue

Bonds,

Series

2020A,

2.700%,

9/01/35

9/29

at

100.00

AA  

507,703

100

Wisconsin

Housing

and

Economic

Development

Authority,

Housing

Revenue

Bonds,

Series

2021C,

2.500%,

11/01/41

5/31

at

100.00

AA+  

76,460

Total

Wisconsin

3,883,699

Wyoming

-

0.2%

170

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

A  

154,481

25

Wyoming

Community

Development

Authority,

Housing

Revenue

Bonds,

2020

Series

1,

2.625%,

12/01/35

6/29

at

100.00

AA+  

22,661

50

Wyoming

Community

Development

Authority,

Housing

Revenue

Bonds,

2023

Series

1,

4.200%,

12/01/38

6/32

at

100.00

AA+  

50,389

Total

Wyoming

227,531

Total

Municipal

Bonds

(cost

$120,055,666)

117,830,714

Shares

Description

(1)

Value

X

5,076,441

COMMON

STOCKS

-

4.1%

X

5,076,441

Independent

Power

and

Renewable

Electricity

Producers

-

4.1%

65,897

Energy

Harbor

Corp

(7),(8)

$

5,076,441

Total

Independent

Power

and

Renewable

Electricity

Producers

5,076,441

Total

Common

Stocks

(cost

$1,755,742)

5,076,441

41

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Ratings

(3)

Value

X

258,560.00

ASSET-BACKED

AND

MORTGAGE-BACKED

SECURITIES

-

0.2%

X

258,560

$

198

Federal

Home

Loan

Mortgage

Corporation,

Notes,

2022

3.150%

10/15/36

AA+

$

174,937

108

Freddie

Mac

Multi-Family

ML

Certificates,

Series

ML

10,

Series

2021,

2021

2.032%

1/25/38

AA+

83,623

Total

Asset-Backed

and

Mortgage-Backed

Securities

(cost

$313,415)

258,560

Total

Long-Term

Investments

(cost

$122,124,823)

123,165,715

Other

Assets

&

Liabilities,

Net

-   1.1%

1,346,218

Net

Assets

Applicable

to

Common

Shares

-

100%

$

124,511,933

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

Optional

Call

Provisions

are

not

covered

by

the

report

of

independent

registered

public

accounting

firm.

(3)

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

Ratings

are

not

covered

by

the

report

of

independent

registered

public

accounting

firm.

(4)

Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(5)

Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(6)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(7)

Energy

Harbor

Corp

(ENGH)

common

stock

received

as

part

of

the

bankruptcy

settlement

during

February

2020

for

Beaver

County

Industrial

Development

Authority,

Pennsylvania,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generation

Project,

Series

2008A,

2.700%,

4/01/35;

Ohio

Air

Quality

Development

Authority,

Ohio,

Air

Quality

Development

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Series

2009A,

5.700%,

8/01/20;

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Refunding

Series

2009B,

3.100%,

3/01/23;

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Project,

Refunding

Series

2006A,

3.750%,

12/01/23;

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generation

Corporation

Project,

Refunding

Series

2010A,

0.000%,

7/01/33;

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generation

Project,

Refunding

Series

2006B,

3.625%,

12/01/33;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2005B,

4.000%,

1/01/34;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2006A,

3.000%,

5/15/20;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2006B,

4.000%,

12/01/33;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2008B,

3.625%,

10/01/33;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2010A,

3.750%,

7/01/33;

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2010C,

4.000%,

6/01/33;

and

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

Shippingport

Project,

First

Energy

Guarantor,

Series

2006A,

2.550%,

11/01/41.

Various

funds

and

accounts

managed

by

Nuveen,

including

the

Fund,

collectively

are

a

substantial

minority

holder

of

ENGH’s

outstanding

shares

of

common

stock,

and

possess

certain

other

rights

with

respect

to

the

corporate

governance

of

ENGH.

Due

to

these

facts,

under

the

federal

securities

laws,

the

securities

of

ENGH

held

by

Nuveen

funds

and

accounts,

including

the

Fund,

cannot

be

sold

except

under

limited

conditions

(which

are

not  currently

satisfied).

The

Fund

is

therefore

unable

to

sell

such

shares

in

ordinary

secondary

market

transactions

at

this

time.

On

March

6,

2023

Vistra

Corp.

(“Vistra”)

announced

that

it

has

executed

a

definitive

agreement

with

Energy

Harbor

Corp.,

pursuant

to

which

Energy

Harbor

will

merge

with

and

into

a

newly-formed

subsidiary

of

Vistra.  The

companies

anticiplate

closing

the

transaction

in

the

second

half

of

2023.  In

connection

with

the

transaction,

Nuveen

funds

and

accounts

expect

to

receive

a

combination

of

cash

and

shares

in

a

newly

formed

entity.

Nuveen

expects

these

shares

to

be

issued

in

a

private

transaction

and

may

have

reduced

secondary

market

liquidity.  The

transaction

is

subject

to

certain

regulatory

approvals

and

there

can

be

no

assurance

that

the

transaction

will

close.

(8)

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

See

Notes

to

Financial

Statements

42

Nuveen

Select

Tax-Free

Income

Portfolio

Portfolio

of

Investments

March

31,

2023

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

99.2%   

X

668,728,001

MUNICIPAL

BONDS

-

98.1%

X

668,728,001

Arizona

-

3.1%

$

255

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017F,

3.000%,

7/01/26

No

Opt.

Call

AA-  

$

253,396

1,950

Glendale

Municipal

Property

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Subordinate

Series

2012C,

4.000%,

7/01/38

5/23

at

100.00

AA+  

1,950,273

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

BB+  

740,220

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

BB+  

1,273,979

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

AA-  

2,108,800

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

AA-  

2,055,319

1,250

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Junior

Lien

Series

2015A,

5.000%,

7/01/34

7/25

at

100.00

A+  

1,296,462

3,185

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Junior

Lien

Series

2019A,

5.000%,

7/01/44

7/29

at

100.00

A+  

3,391,006

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

A+  

5,195,050

500

Phoenix

Civic

Improvement

Corporation,

Arizona,

Rental

Car

Facility

Charge

Revenue

Bonds,

Series

2019A,

5.000%,

7/01/39

7/29

at

100.00

A  

536,880

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

A3  

2,516,667

Total

Arizona

21,318,052

Arkansas

-

0.3%

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

Aa2  

2,200,645

Total

Arkansas

2,200,645

California

-

18.3%

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

AA  

5,259,650

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

AA  

3,308,468

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C:

2,840

0.000%,

9/01/30

-

AGM

Insured

No

Opt.

Call

AA  

2,251,495

5,760

0.000%,

9/01/35

-

AGM

Insured

No

Opt.

Call

AA  

3,659,962

6,740

0.000%,

9/01/35

-

AGM

Insured,

(ETM)

No

Opt.

Call

AA  (4)

4,604,903

43

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

California

(continued)

$

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

BBB+  

$

111,503

2,310

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph

Health

System,

Series

2013A,

5.000%,

7/01/33,

(Pre-refunded

7/01/23)

7/23

at

100.00

A1  (4)

2,323,167

1,630

California

State

Public

Works

Board,

Lease

Revenue

Bonds,

Various

Capital

Projects,

Series

2013I,

5.000%,

11/01/38

11/23

at

100.00

Aa3  

1,649,707

5,490

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Series

2022,

4.000%,

4/01/42

4/32

at

100.00

Aa2  

5,563,786

2,645

Cypress

Elementary

School

District,

Orange

County,

California,

General

Obligation

Bonds,

Series

2009A,

0.000%,

5/01/34

-

AGM

Insured

No

Opt.

Call

AA  

1,849,172

2,440

Eureka

Unified

School

District,

Humboldt

County,

California,

General

Obligation

Bonds,

Series

2002,

0.000%,

8/01/27

-

AGM

Insured

No

Opt.

Call

AA  

2,153,398

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

Aa2  

3,149,287

2,275

0.000%,

10/01/28

-

NPFG

Insured

No

Opt.

Call

Aa2  

1,941,212

6,080

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

Aa3  (4)

5,380,861

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

Aa2  

5,650,768

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

Aa2  

1,065,516

4,055

Kern

Community

College

District,

California,

General

Obligation

Bonds,

Series

2003A,

0.000%,

3/01/28

-

FGIC

Insured

No

Opt.

Call

Aa2  

3,524,484

1,000

Moreno

Valley

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Refunding

Series

2007,

0.000%,

8/01/23

-

NPFG

Insured

No

Opt.

Call

A+  

990,480

3,480

Mount

San

Antonio

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

of

2008,

Series

2013A,

0.000%,

8/01/43

(5)

8/35

at

100.00

Aa1  

3,177,170

450

M-S-R

Energy

Authority,

California,

Gas

Revenue

Bonds,

Citigroup

Prepay

Contracts,

Series

2009C,

6.500%,

11/01/39

No

Opt.

Call

A  

535,257

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

AA  

8,960,585

1,250

Ontario

International

Airport

Authority,

California,

Revenue

Bonds,

Series

2021A,

5.000%,

5/15/46

-

AGM

Insured

5/31

at

100.00

AA  

1,378,750

1,195

Palmdale

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Series

2003,

0.000%,

8/01/28

-

AGM

Insured

No

Opt.

Call

AA  

1,039,124

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

A1  

4,425,821

3,000

0.000%,

8/01/25

-

NPFG

Insured

No

Opt.

Call

A1  

2,780,820

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

AA  

7,143,809

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

44

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

California

(continued)

$

12,240

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

A1  (4)

$

8,937,770

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

AA  

1,106,145

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

Aa2  

6,032,800

8,000

0.000%,

8/01/33

No

Opt.

Call

Aa2  

5,797,520

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

A+  

2,521,679

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

A1  

2,575,319

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

A  

3,732,850

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2019B:

1,210

5.000%,

7/01/38,

(AMT)

7/29

at

100.00

A+  

1,286,024

1,305

5.000%,

7/01/39,

(AMT)

7/29

at

100.00

A+  

1,381,095

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

AA  

1,779,975

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

AA  

4,812,650

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

AAA  

920,897

Total

California

124,763,879

Colorado

-

9.3%

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

BBB  

4,171,455

150

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

CommonSpirit

Health,

Series

2019A-1,

4.000%,

8/01/44

8/29

at

100.00

A-  

137,380

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

CommonSpirit

Health,

Series

2019A-2:

1,600

5.000%,

8/01/44

8/29

at

100.00

A-  

1,652,016

540

4.000%,

8/01/49

8/29

at

100.00

A-  

482,474

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

A+  

5,300,550

2,000

Colorado

Springs,

Colorado,

Utilities

System

Revenue

Bonds,

Refunding

Series

2020A,

4.000%,

11/15/45

11/30

at

100.00

AA+  

2,000,920

Colorado

State,

Certificates

of

Participation,

Rural

Series

2020A:

3,135

4.000%,

12/15/37

12/30

at

100.00

Aa2  

3,202,841

445

4.000%,

12/15/38

12/30

at

100.00

Aa2  

454,341

1,500

Denver

City

and

County,

Colorado,

Airport

System

Revenue

Bonds,

Series

2022A,

5.000%,

11/15/47,

(AMT)

11/32

at

100.00

AA-  

1,593,285

45

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Colorado

(continued)

$

2,275

Denver

City

and

County,

Colorado,

Airport

System

Revenue

Bonds,

Series

2022D,

5.750%,

11/15/45,

(AMT)

11/32

at

100.00

AA-  

$

2,584,787

5,805

Denver

City

and

County,

Colorado,

Airport

System

Revenue

Bonds,

Subordinate

Lien

Series

2013B,

5.000%,

11/15/43

11/23

at

100.00

A+  

5,833,909

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

A+  

4,670,600

E-470

Public

Highway

Authority,

Colorado,

Senior

Revenue

Bonds,

Series

2000B:

5,140

0.000%,

9/01/24

-

NPFG

Insured

No

Opt.

Call

A  

4,930,494

8,350

0.000%,

9/01/29

-

NPFG

Insured

No

Opt.

Call

A  

6,880,316

1,295

0.000%,

9/01/32

-

NPFG

Insured

No

Opt.

Call

A  

955,969

4,475

0.000%,

9/01/33

-

NPFG

Insured

No

Opt.

Call

A  

3,183,605

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

A  

5,988,625

E-470

Public

Highway

Authority,

Colorado,

Senior

Revenue

Bonds,

Series

2020A:

715

5.000%,

9/01/36

9/30

at

100.00

A  

806,934

1,095

5.000%,

9/01/40

9/24

at

100.00

A  

1,110,155

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

A  

1,043,670

620

5.000%,

12/01/35

12/25

at

100.00

A  

643,709

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

AA  

5,447,000

Total

Colorado

63,075,035

Connecticut

-

4.6%

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

A3  

1,383,400

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

College,

Series

2021S:

2,000

4.000%,

6/01/46

12/31

at

100.00

A+  

1,890,440

1,175

4.000%,

6/01/51

12/31

at

100.00

A+  

1,074,396

685

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)

1/24

at

100.00

AA-  

668,245

5,100

Connecticut

State,

General

Obligation

Bonds,

Green

Series

2014G,

5.000%,

11/15/31

11/24

at

100.00

AA-  

5,274,114

3,500

Connecticut

State,

General

Obligation

Bonds,

Series

2018C,

5.000%,

6/15/26

No

Opt.

Call

AA-  

3,786,580

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2013A:

3,475

5.000%,

10/01/30

10/23

at

100.00

AA  

3,509,298

2,490

5.000%,

10/01/33

10/23

at

100.00

AA  

2,512,236

1,625

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes,

Series

2014A,

5.000%,

9/01/34

9/24

at

100.00

AA  

1,670,013

5,390

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes,

Series

2021A,

4.000%,

5/01/40

5/31

at

100.00

AA  

5,466,538

3,000

Hartford

County

Metropolitan

District,

Connecticut,

Clean

Water

Project

Revenue

Bonds,

Refunding

Green

Bond

Series

2014A,

5.000%,

11/01/42,

(Pre-refunded

11/01/24)

11/24

at

100.00

AA  (4)

3,113,190

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

46

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Connecticut

(continued)

$

750

University

of

Connecticut,

General

Obligation

Bonds,

Series

2015A,

5.000%,

3/15/31

3/26

at

100.00

AA-  

$

801,337

Total

Connecticut

31,149,787

District

of

Columbia

-

1.5%

2,710

Metropolitan

Washington

Airports

Authority,

District

of

Columbia,

Dulles

Toll

Road

Revenue

Bonds,

Dulles

Metrorail

&

Capital

improvement

Projects,

Refunding

&

Subordinate

Lien

Series

2019B,

4.000%,

10/01/44

10/29

at

100.00

A-  

2,584,148

1,500

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

AA  (4)

1,704,075

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

A-  

2,269,160

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

AA  

1,047,722

2,500

Washington

Metropolitan

Area

Transit

Authority,

District

of

Columbia,

Dedicated

Revenue

Bonds,

Series

2020A,

5.000%,

7/15/45

7/30

at

100.00

AA  

2,739,525

Total

District

of

Columbia

10,344,630

Florida

-

2.9%

1,040

Broward

County,

Florida,

Airport

System

Revenue

Bonds,

Series

2017,

5.000%,

10/01/47,

(AMT)

10/27

at

100.00

A+  

1,062,787

3,690

Florida

Development

Finance

Corporation,

Florida,

Surface

Transportation

Facility

Revenue

Bonds,

Virgin

Trains

USA

Passenger

Rail

Project,

Series

2019A,

6.250%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/24),

144A

5/23

at

101.00

N/R  

3,653,506

7,000

Florida

Development

Finance

Corporation,

Revenue

Bonds,

Brightline

Passenger

Rail

Expansion

Project,

Series

2022A,

7.250%,

7/01/57,

(AMT),

(Mandatory

Put

10/03/23),

144A

5/23

at

103.00

N/R  

7,055,440

1,545

Greater

Orlando

Aviation

Authority,

Florida,

Orlando

Airport

Facilities

Revenue

Bonds,

Priority

Subordinated

Series

2017A,

5.000%,

10/01/47,

(AMT)

10/27

at

100.00

A+  

1,578,851

1,500

Lakeland,

Florida,

Hospital

System

Revenue

Bonds,

Lakeland

Regional

Health,

Series

2015,

5.000%,

11/15/45

11/24

at

100.00

A2  

1,502,505

2,000

Miami-Dade

County,

Florida,

General

Obligation

Bonds,

Build

Better

Communities

Program,

Series

2013A,

5.000%,

7/01/30

7/25

at

100.00

AA  

2,105,720

Tampa,

Florida,

Hospital

Revenue

Bonds,

H.

Lee

Moffitt

Cancer

Center

Project,

Series

2020B:

2,395

4.000%,

7/01/45

7/30

at

100.00

A2  

2,287,009

470

5.000%,

7/01/50

7/30

at

100.00

A2  

479,480

Total

Florida

19,725,298

Georgia

-

0.5%

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

AA+  

3,560,328

Total

Georgia

3,560,328

Guam

-

1.8%

7,250

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D,

5.000%,

11/15/39

11/25

at

100.00

BB  

7,255,583

47

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Guam

(continued)

$

1,740

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2013,

5.250%,

7/01/25

7/23

at

100.00

A-  

$

1,746,977

1,460

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2016,

5.000%,

1/01/46

7/26

at

100.00

A-  

1,482,630

1,875

Guam

Power

Authority,

Revenue

Bonds,

Refunding

Series

2022A,

5.000%,

10/01/41

10/32

at

100.00

BBB  

1,973,081

Total

Guam

12,458,271

Hawaii

-

1.1%

6,895

Hawaii

State,

Airport

System

Revenue

Bonds,

Series

2015A,

5.000%,

7/01/41,

(AMT)

7/25

at

100.00

AA-  

6,994,840

645

Hawaii

State,

Harbor

System

Revenue

Bonds,

Series

2020A,

4.000%,

7/01/35,

(AMT)

7/30

at

100.00

Aa3  

657,500

Total

Hawaii

7,652,340

Idaho

-

2.3%

5,000

Boise

City

Water

Renewal

System,

Idaho,

Revenue

Bonds,

Refunding

Series

2022,

5.000%,

9/01/47

9/32

at

100.00

Aa2  

5,522,250

10,000

Idaho

Health

Facilities

Authority,

Revenue

Bonds,

Saint

Luke's

Health

System

Project,

Series

2014A,

5.000%,

3/01/44

3/24

at

100.00

A  

10,066,200

Total

Idaho

15,588,450

Illinois

-

8.9%

3,615

Board

of

Trustees

of

Southern

Illinois

University,

Housing

and

Auxiliary

Facilities

System

Revenue

Bonds,

Series

1999A,

0.000%,

4/01/23

-

NPFG

Insured

No

Opt.

Call

Baa2  

3,615,000

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

A  

2,157,379

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

BB+  

1,858,825

725

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Dedicated

Revenues,

Series

2016B,

6.500%,

12/01/46

12/26

at

100.00

BB+  

764,737

3,900

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Series

1999A,

0.000%,

12/01/28

-

FGIC

Insured

No

Opt.

Call

Baa2  

3,168,048

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

Baa2  

44,678

880

Chicago,

Illinois,

General

Obligation

Bonds,

Project

&

Refunding

Series

2017A,

6.000%,

1/01/38

1/27

at

100.00

BBB+  

940,852

520

Illinois

Finance

Authority,

Revenue

Bonds,

Rehabilitation

Institute

of

Chicago,

Series

2013A,

6.000%,

7/01/43

7/23

at

100.00

A  

523,364

6,200

Illinois

State,

General

Obligation

Bonds,

Refunding

September

Series

2018B,

5.000%,

10/01/23

No

Opt.

Call

A-  

6,259,210

2,500

Illinois

Toll

Highway

Authority,

Toll

Highway

Revenue

Bonds,

Senior

Lien

Series

2021A,

4.000%,

1/01/46

1/32

at

100.00

AA-  

2,442,275

1,000

Kankakee

&

Will

Counties

Community

Unit

School

District

5,

Illinois,

General

Obligation

Bonds,

Series

2006,

0.000%,

5/01/23

-

AGM

Insured

No

Opt.

Call

Aa3  

997,850

1,000

Kendall,

Kane,

and

Will

Counties

Community

Unit

School

District

308

Oswego,  Illinois,

General

Obligation

Bonds,

Series

2008,

0.000%,

2/01/24

-

AGM

Insured

No

Opt.

Call

A1  

974,860

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

48

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Illinois

(continued)

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

A  

$

1,345,487

765

0.000%,

6/15/30

No

Opt.

Call

A  

585,141

45

0.000%,

6/15/30,

(ETM)

No

Opt.

Call

N/R  (4)

36,894

2,500

0.000%,

12/15/30

-

NPFG

Insured

No

Opt.

Call

A  

1,876,450

17,195

0.000%,

12/15/31

-

NPFG

Insured

No

Opt.

Call

A  

12,361,314

1,350

0.000%,

6/15/35

-

NPFG

Insured

No

Opt.

Call

A  

824,405

15,000

0.000%,

12/15/36

-

NPFG

Insured

No

Opt.

Call

A  

8,393,400

2,000

0.000%,

6/15/37

-

NPFG

Insured

No

Opt.

Call

A  

1,072,640

9,370

0.000%,

6/15/39

-

NPFG

Insured

No

Opt.

Call

A  

4,509,781

5,000

Springfield,

Illinois,

Electric

Revenue

Bonds,

Refunding

Senior

Lien

Series

2015,

5.000%,

3/01/28

3/25

at

100.00

A  

5,160,900

620

University

of

Illinois,

Health

Services

Facilities

System

Revenue

Bonds,

Series

2013,

6.000%,

10/01/42

10/23

at

100.00

A-  

628,792

Total

Illinois

60,542,282

Indiana

-

2.2%

1,600

Indiana

Bond

Bank,

Special

Program

Bonds,

Carmel

Junior

Waterworks

Project,

Series

2008B,

0.000%,

6/01/30

-

AGM

Insured

No

Opt.

Call

AA  

1,274,880

2,040

Indiana

Finance

Authority,

Hospital

Revenue

Bonds,

Indiana

University

Health

Obligation

Group,

Refunding

2015A,

5.000%,

12/01/40

6/25

at

100.00

AA  

2,089,450

5,060

Indiana

Finance

Authority,

Hospital

Revenue

Bonds,

Marion

General

Hospital

Project,

Series

2020A,

4.000%,

7/01/45

7/30

at

100.00

A  

4,945,138

5,000

Indiana

Finance

Authority,

Wastewater

Utility

Revenue

Bonds,

CWA

Authority

Project,

Series

2015A,

5.000%,

10/01/45

10/24

at

100.00

AA  

5,115,500

1,000

Indianapolis

Local

Public

Improvement

Bond

Bank,

Indiana,

Series

1999E,

0.000%,

2/01/24

-

AMBAC

Insured

No

Opt.

Call

AA  

976,290

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

AA  

858,470

Total

Indiana

15,259,728

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

BBB-  

1,154,841

Total

Iowa

1,154,841

Kentucky

-

0.1%

805

Kentucky

Public

Transportation

Infrastructure

Authority,

Toll

Revenue

Bonds,

Downtown

Crossing

Project,

Convertible

Capital

Appreciation

First

Tier

Series

2013C,

0.000%,

7/01/43

(5)

7/31

at

100.00

Baa2  

908,354

Total

Kentucky

908,354

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

AA  

1,963,294

Total

Louisiana

1,963,294

Massachusetts

-

5.3%

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

University,

Series

2016BB-1:

10,000

4.000%,

10/01/46

10/26

at

100.00

AA-  

9,837,500

2,230

5.000%,

10/01/46

10/26

at

100.00

AA-  

2,348,524

49

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Massachusetts

(continued)

$

3,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2018J-2,

5.000%,

7/01/43

7/28

at

100.00

A  

$

3,138,750

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

A1  

6,676,800

4,600

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Olin

College,

Series

2013E,

5.000%,

11/01/43

11/23

at

100.00

A  

4,625,668

4,500

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Partners

HealthCare

System,

Series

2014M-4,

5.000%,

7/01/44,

(Pre-refunded

7/01/23)

7/23

at

100.00

AA-  (4)

4,526,190

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

A-  

546,408

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

AA+  

2,543,768

1,000

Newburyport,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan,

Refunding

Series

2013,

4.000%,

1/15/30

5/23

at

100.00

AAA  

1,001,050

University

of

Massachusetts

Building

Authority,

Project

Revenue

Bonds,

Senior

Series

2014-1:

255

5.000%,

11/01/39,

(Pre-refunded

11/01/24)

2020

11/24

at

100.00

N/R  (4)

264,820

480

5.000%,

11/01/39

11/24

at

100.00

AA  

491,549

210

5.000%,

11/01/39,

(Pre-refunded

11/01/24)

11/24

at

100.00

N/R  (4)

218,087

220

5.000%,

11/01/39,

(Pre-refunded

11/01/24)

11/24

at

100.00

N/R  (4)

228,472

Total

Massachusetts

36,447,586

Michigan

-

0.7%

385

Michigan

State

Building

Authority,

Revenue

Bonds,

Facilities

Program,

Refunding

Series

2015-I,

5.000%,

4/15/38

10/25

at

100.00

Aa2  

401,078

4,000

Michigan

State

Building

Authority,

Revenue

Bonds,

Facilities

Program,

Refunding

Series

2016-I,

5.000%,

4/15/35

10/26

at

100.00

Aa2  

4,296,400

Total

Michigan

4,697,478

Missouri

-

2.1%

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

A2  

7,160,510

Kansas

City

Municipal

Assistance

Corporation,

Missouri,

Leasehold

Revenue

Bonds,

Improvement

Series

2004B-1:

1,165

0.000%,

4/15/23

-

AMBAC

Insured

No

Opt.

Call

AA  

1,164,021

5,000

0.000%,

4/15/30

-

AMBAC

Insured

No

Opt.

Call

AA-  

4,124,250

2,000

Missouri

Health

and

Educational

Facilities

Authority,

Health

Facilities

Revenue

Bonds,

CoxHealth,

Series

2013A,

5.000%,

11/15/38

11/23

at

100.00

A2  

2,002,520

Total

Missouri

14,451,301

Nebraska

-

1.0%

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

A  

549,976

2,700

5.000%,

11/01/45

11/25

at

100.00

A  

2,736,504

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

BBB  

258,140

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

50

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Nebraska

(continued)

$

305

5.000%,

7/01/27

7/25

at

100.00

BBB  

$

315,053

500

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

Aa3  (4)

514,440

2,000

University

of

Nebraska

Facilities

Corporation,

Nebraska,

Facilities

Program

Bonds,

Green

Series

2021B,

5.000%,

7/15/51

7/31

at

100.00

Aa1  

2,190,740

Total

Nebraska

6,564,853

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

A-  

1,762,890

3,000

Las

Vegas

Valley

Water

District,

Nevada,

General

Obligation

Bonds,

Refunding

Series

2015,

5.000%,

6/01/34

12/24

at

100.00

Aa1  

3,109,500

Total

Nevada

4,872,390

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

A-  

2,221,042

Total

New

Hampshire

2,221,042

New

Jersey

-

5.9%

3,495

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds,  Series

2013,

5.000%,

1/01/37

1/24

at

100.00

A+  

3,541,344

940

New

Jersey

Economic

Development

Authority,

Private

Activity

Bonds,

The

Goethals

Bridge

Replacement

Project,

Series

2013,

5.125%,

1/01/39

-

AGM

Insured,

(AMT)

1/24

at

100.00

AA  

946,495

3,230

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

New

Jersey

Transit

Corporation

Projects

Sublease,

Refunding

Series

2017B,

5.000%,

11/01/23

No

Opt.

Call

A3  

3,266,079

2,000

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

A3  (4)

2,224,320

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

AA  

316,560

260

5.000%,

7/01/29

-

AGM

Insured

7/25

at

100.00

AA  

269,633

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C:

4,900

0.000%,

12/15/28

-

AMBAC

Insured

No

Opt.

Call

A3  

4,087,678

35,000

0.000%,

12/15/34

-

AGM

Insured

No

Opt.

Call

AA  

23,137,100

2,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2015AA,

5.250%,

6/15/29

6/25

at

100.00

A3  

2,097,540

Total

New

Jersey

39,886,749

New

Mexico

-

0.9%

1,000

Albuquerque,

New

Mexico,

Refuse

Removal

and

Disposal

Revenue

Bonds,

Series

2020,

4.000%,

7/01/43

7/30

at

100.00

AA  

997,200

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

Aa3  

1,054,460

3,000

New

Mexico

Mortgage

Finance

Authority,

Multifamily

Housing

Revenue

Bonds,

St

Anthony,

Series

2007A,

5.250%,

9/01/42,

(AMT)

4/23

at

100.00

N/R  

3,007,290

51

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

New

Mexico

(continued)

$

1,035

University

of

New

Mexico,

Revenue

Bonds,

Refunding

&

Improvement

Subordinate

Lien

Series

2016A,

4.500%,

6/01/36

6/26

at

100.00

AA-  

$

1,074,485

Total

New

Mexico

6,133,435

New

York

-

2.5%

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

A3  

2,040,700

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

AA+  

1,309,783

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

Aa1  

9,874,500

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

AA-  

2,739,825

1,000

TSASC

Inc.,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Fiscal

2017

Series

B,

5.000%,

6/01/24

No

Opt.

Call

B-  

992,620

Total

New

York

16,957,428

Ohio

-

0.2%

1,015

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

N/R  

920,392

250

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Refunding

Series

2009D,

3.375%,

8/01/29,

(Mandatory

Put

9/15/21)

No

Opt.

Call

BBB-  

227,535

3,000

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Nuclear

Generating

Corporation

Project,

Refunding

Series

2005B,

4.000%,

1/01/34

(6)

No

Opt.

Call

N/R  

3,750

Total

Ohio

1,151,677

Oklahoma

-

0.2%

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

BB-  

1,168,315

Total

Oklahoma

1,168,315

Oregon

-

3.4%

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

AA+  

1,621,743

60

Clackamas

Community

College

District,

Oregon,

General

Obligation

Bonds,

Deferred

Interest

Series

2017A,

5.000%,

6/15/40

6/27

at

100.00

Aa1  

64,556

Clackamas

County

Hospital

Facility

Authority,

Oregon,

Senior

Living

Revenue

Bonds,

Willamette

View

Project,

Series

2017A:

515

4.000%,

11/15/23

No

Opt.

Call

N/R  

513,743

500

5.000%,

11/15/52

11/25

at

102.00

N/R  

448,875

1,000

Lake

Oswego,

Oregon,

General

Obligation

Bonds,

Series

2013,

5.000%,

6/01/26

6/23

at

100.00

AAA  

1,003,680

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

A+  

2,234,477

3,000

Oregon

Facilities

Authority,

Revenue

Bonds,

Reed

College,

Series

2017A,

4.000%,

7/01/41,

(Pre-refunded

7/01/27)

7/27

at

100.00

Aa2  (4)

3,199,050

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

52

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Oregon

(continued)

$

2,000

Oregon

Facilities

Authority,

Revenue

Bonds,

Willamette

University,

Refunding

Series

2016B,

5.000%,

10/01/40

10/26

at

100.00

BBB  

$

2,044,500

5,000

Oregon

Health

and

Science

University,

Revenue

Bonds,

Green

Series

2021A,

4.000%,

7/01/44

1/32

at

100.00

AA-  

5,049,200

2,500

Salem

Hospital

Facility

Authority,

Oregon,

Revenue

Bonds,

Salem

Health

Project,

Refunding

Series

2016A,

5.000%,

5/15/46

5/26

at

100.00

AA-  

2,562,200

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

AA+  

830,317

Yamhill

County,

Oregon,

Revenue

Bonds,

George

Fox

University

Project,

Refunding

Series

2021:

1,500

4.000%,

12/01/36

12/31

at

100.00

A-  

1,515,375

1,875

4.000%,

12/01/41

12/31

at

100.00

A-  

1,823,850

Total

Oregon

22,911,566

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

BBB-  

1,114,335

5,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

State

System

of

Higher

Education,

Series

2016AT-1,

5.000%,

6/15/31

6/26

at

100.00

Aa3  

5,337,650

Total

Pennsylvania

6,451,985

Puerto

Rico

-

1.9%

87

Puerto

Rico

Highway

and

Transportation

Authority,

Restructured

Toll

Revenue

Bonds,

Series

2022A,

5.000%,

7/01/62

7/32

at

100.00

N/R  

82,753

56

Puerto

Rico

Highway

and

Transportation

Authority,

Restructured

Toll

Revenue

Bonds,

Series

2022B,

0.000%,

7/01/32

No

Opt.

Call

N/R  

35,380

97

Puerto

Rico

Highway

and

Transportation

Authority,

Restructured

Toll

Revenue

Bonds,

Series

2022C,

0.000%,

7/01/53

(5)

1/33

at

100.00

N/R  

56,646

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1:

3,550

4.750%,

7/01/53

7/28

at

100.00

N/R  

3,256,060

3,560

5.000%,

7/01/58

7/28

at

100.00

N/R  

3,361,245

6,500

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2,

4.329%,

7/01/40

7/28

at

100.00

N/R  

5,931,510

555

Puerto

Rico,

General

Obligation

Bonds,

Clawback

Highway

Transportation

Authority

Claims

Taxable

Series

2022,

0.000%,

11/01/51

No

Opt.

Call

N/R  

241,378

Total

Puerto

Rico

12,964,972

South

Carolina

-

0.2%

1,270

South

Carolina

Transportation

Infrastructure

Bank,

Revenue

Bonds,

Refunding

Series

2015A,

2.900%,

10/01/25

10/24

at

100.00

Aa3  

1,273,937

Total

South

Carolina

1,273,937

South

Dakota

-

0.2%

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

AA-  

1,040,680

Total

South

Dakota

1,040,680

Tennessee

-

0.8%

5,000

Metropolitan

Nashville

Airport

Authority,

Tennessee,

Airport

Revenue

Bonds,

Subordinate

Series

2019B,

5.000%,

7/01/49,

(AMT)

7/30

at

100.00

A2  

5,193,450

Total

Tennessee

5,193,450

53

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Texas

-

6.5%

$

4,675

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

AA+  (4)

$

4,922,167

Central

Texas

Regional

Mobility

Authority,

Revenue

Bonds,

Senior

Lien,

Series

2015A:

110

5.000%,

1/01/33,

(Pre-refunded

7/01/25)

7/25

at

100.00

A-  (4)

115,963

85

5.000%,

1/01/34,

(Pre-refunded

7/01/25)

7/25

at

100.00

A-  (4)

89,608

240

5.000%,

1/01/35,

(Pre-refunded

7/01/25)

7/25

at

100.00

A-  (4)

253,010

10,765

Grand

Parkway

Transportation

Corporation,

Texas,

System

Toll

Revenue

Bonds,

First

Tier

Series

2013A,

5.500%,

4/01/53,

(Pre-refunded

10/01/23)

10/23

at

100.00

N/R  (4)

10,917,433

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

AA  

1,178,954

2,500

Harris

County

Flood

Control

District,

Texas,

Contract

Tax

Bonds,

Refunding

Series

2017A,

4.000%,

10/01/35

10/27

at

100.00

AAA  

2,587,775

Harris

County-Houston

Sports

Authority,

Texas,

Revenue

Bonds,

Junior

Lien

Series

2001H:

520

0.000%,

11/15/24

-

NPFG

Insured

No

Opt.

Call

Baa2  

491,327

110

0.000%,

11/15/24

-

NPFG

Insured,

(ETM)

No

Opt.

Call

Baa2  (4)

105,090

2,935

0.000%,

11/15/30

-

NPFG

Insured

No

Opt.

Call

Baa2  

2,206,592

480

0.000%,

11/15/30

-

NPFG

Insured,

(ETM)

No

Opt.

Call

Baa2  (4)

389,246

1,405

0.000%,

11/15/32

-

NPFG

Insured

11/31

at

94.05

Baa2  

940,268

2,510

0.000%,

11/15/36

-

NPFG

Insured

11/31

at

73.51

Baa2  

1,253,017

12,480

0.000%,

11/15/41

-

NPFG

Insured

11/31

at

53.78

Baa2  

4,385,223

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

Baa2  

1,313,845

4,230

0.000%,

11/15/35

-

NPFG

Insured

11/24

at

52.47

Baa2  

2,067,793

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

AA  

1,782,695

8,110

0.000%,

11/15/38

-

NPFG

Insured

11/30

at

61.17

AA  

3,572,861

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

A  

548,360

430

Mission

Economic

Development

Corporation,

Texas,

Revenue

Bonds,

Natgasoline

Project,

Senior

Lien

Series

2018,

4.625%,

10/01/31,

(AMT),

144A

4/23

at

104.00

BB-  

420,402

North

Texas

Tollway

Authority,

System

Revenue

Bonds,

Refunding

First

Tier

Capital

Appreciation

Series

2008I:

290

6.200%,

1/01/42,

(Pre-refunded

1/01/25)

-

AGC

Insured

1/25

at

100.00

AA  (4)

307,687

2,000

6.500%,

1/01/43,

(Pre-refunded

1/01/25)

1/25

at

100.00

AA-  (4)

2,128,600

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

AA-  

196,274

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

A+  

2,244,795

Total

Texas

44,418,985

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

N/R  

1,614,929

Total

Virgin

Islands

1,614,929

Nuveen

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

March

31,

2023

54

NXP

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Virginia

-

0.5%

$

3,500

Chesapeake,

Virginia,

Transportation

System

Senior

Toll

Road

Revenue

Bonds,

Capital

Appreciation

Series

2012B,

0.000%,

7/15/32

(5)

7/28

at

100.00

A-  

$

3,689,525

Total

Virginia

3,689,525

Washington

-

5.2%

5,985

Port

of

Seattle,

Washington,

Revenue

Bonds,

Intermediate

Lien

Series

2019,

5.000%,

4/01/44,

(AMT)

4/29

at

100.00

AA-  

6,267,193

860

Snohomish

County

School

District

306

Lakewood,

Washington,

General

Obligation

Bonds,

Series

2014,

5.000%,

12/01/28

6/24

at

100.00

Aaa  

882,850

4,000

Washington

Health

Care

Facilities

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2012A,

5.000%,

10/01/32

5/23

at

100.00

A1  

4,001,440

5,000

Washington

Health

Care

Facilities

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014D,

5.000%,

10/01/38

10/24

at

100.00

A1  

5,009,450

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

Baa1  

6,884,079

5,710

Washington

State,

General

Obligation

Bonds,

Various

Purpose

Series

2015B,

5.000%,

2/01/37

2/25

at

100.00

Aaa  

5,901,399

2,060

Washington

State,

General

Obligation

Bonds,

Various

Purpose

Series

2016A-1,

5.000%,

8/01/39

8/25

at

100.00

Aaa  

2,139,846

2,535

Washington

State,

General

Obligation

Bonds,

Various

Purpose

Series

2017A,

5.000%,

8/01/38

8/26

at

100.00

Aaa  

2,686,694

2,115

Washington

State,

Motor

Vehicle

Fuel

Tax

General

Obligation

Bonds,

Series

2003F,

0.000%,

12/01/27

-

NPFG

Insured

No

Opt.

Call

Aaa  

1,861,517

Total

Washington

35,634,468

Wisconsin

-

1.1%

3,290

Wisconsin

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Mercy

Alliance,

Inc.,

Series

2012,

5.000%,

6/01/39

5/23

at

100.00

A3  

3,289,835

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

AA-  

4,026,201

Total

Wisconsin

7,316,036

Total

Municipal

Bonds

(cost

$632,058,039)

668,728,001

55

Shares

Description

(1)

Value

X

7,455,082

COMMON

STOCKS

-

1.1%

X

7,455,082

Independent

Power

and

Renewable

Electricity

Producers

-

1.1%

96,774

Energy

Harbor

Corp

(7),(8)

$

7,455,082

Total

Independent

Power

and

Renewable

Electricity

Producers

7,455,082

Total

Common

Stocks

(cost

$2,699,742)

7,455,082

Total

Long-Term

Investments

(cost

$634,757,781)

676,183,083

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

SHORT-TERM

INVESTMENTS

-

 0.2%  

1,500,000

MUNICIPAL

BONDS

-

0.2%

X

1,500,000

Massachusetts

-

0.2%

$

1,500

Massachusetts

Housing

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018-200,

4.050%,

12/01/48,

(Mandatory

Put

4/7/2023)

(9)

3/23

at

100.00

AA+

$

1,500,000

Total

Massachusetts

1,500,000

Total

Short-Term

Investments

(cost

$1,500,000)

1,500,000

Total

Investments

(cost

$

636,257,781

)

-

99

.4

%

677,683,083

Other

Assets

&

Liabilities,

Net

-   0.6%

4,372,738

Net

Assets

Applicable

to

Common

Shares

-

100%

$

682,055,821

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

Optional

Call

Provisions

are

not

covered

by

the

report

of

independent

registered

public

accounting

firm.

(3)

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

Ratings

are

not

covered

by

the

report

of

independent

registered

public

accounting

firm.

(4)

Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(5)

Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(6)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(7)

Energy

Harbor

Corp

(ENGH)

common

stock

received

as

part

of

the

bankruptcy

settlement

during

February

2020

for

Ohio

Water

Development

Authority,

Pollution

Control

Revenue

Refunding

Bonds,FirstEnergy

Nuclear

Generating

Corporation

Project,

Series

2005B,

0.000%,

1/01/34.

Various

funds

and

accounts

managed

by

Nuveen,

including

the

Fund,

collectively

are

a

substantial

minority

holder

of

ENGH’s

outstanding

shares

of

common

stock,

and

possess

certain

other

rights

with

respect

to

the

corporate

governance

of

ENGH.

Due

to

these

facts,

under

the

federal

securities

laws,

the

securities

of

ENGH

held

by

Nuveen

funds

and

accounts,

including

the

Fund,

cannot

be

sold

except

under

limited

conditions

(which

are

not  currently

satisfied).

The

Fund

is

therefore

unable

to

sell

such

shares

in

ordinary

secondary

market

transactions

at

this

time.

On

March

6,

2023

Vistra

Corp.

(“Vistra”)

announced

that

it

has

executed

a

definitive

agreement

with

Energy

Harbor

Corp.,

pursuant

to

which

Energy

Harbor

will

merge

with

and

into

a

newly-formed

subsidiary

of

Vistra.  The

companies

anticiplate

closing

the

transaction

in

the

second

half

of

2023.  In

connection

with

the

transaction,

Nuveen

funds

and

accounts

expect

to

receive

a

combination

of

cash

and

shares

in

a

newly

formed

entity.

Nuveen

expects

these

shares

to

be

issued

in

a

private

transaction

and

may

have

reduced

secondary

market

liquidity.  The

transaction

is

subject

to

certain

regulatory

approvals

and

there

can

be

no

assurance

that

the

transaction

will

close.

(8)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(9)

Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

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

See

Notes

to

Financial

Statements

Statement

of

Assets

and

Liabilities

March

31,

2023

See

Notes

to

Financial

Statements

56

NIM

NXP

ASSETS

Long-term

investments,

at

value

†

$

123,165,715‌

$

676,183,083‌

Short-term

investments,

at

value

◊

–‌

1,500,000‌

Cash

339,763‌

138,719‌

Receivables:

Interest

1,325,987‌

6,666,583‌

Investments

sold

121,090‌

–‌

Other

assets

4,220‌

213,649‌

Total

assets

124,956,775‌

684,702,034‌

LIABILITIES

Payables:

Dividends

298,799‌

2,157,823‌

Investments

purchased

-

regular

settlement

21,871‌

–‌

Accrued

expenses:

Custodian

fees

27,060‌

70,870‌

Investor

relations

1,925‌

6,897‌

Management

fees

48,103‌

107,286‌

Trustees

fees

1,756‌

213,251‌

Professional

fees

27,766‌

31,310‌

Shareholder

reporting

expenses

6,917‌

21,462‌

Shareholder

servicing

agent

fees

362‌

1,644‌

Other

10,283‌

35,670‌

Total

liabilities

444,842‌

2,646,213‌

Net

assets

applicable

to

common

shares

$

124,511,933‌

$

682,055,821‌

Common

shares

outstanding

12,446,597‌

46,804,690‌

Net

asset

value

("NAV")

per

common

share

outstanding

$

10

.00‌

$

14

.57‌

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

CONSIST

OF:

Common

shares,

$0.01

par

value

per

share

$

124,466‌

$

468,047‌

Paid-in

capital

123,856,804‌

655,123,055‌

Total

distributable

earnings

(loss)

530,663‌

26,464,719‌

Net

assets

applicable

to

common

shares

$

124,511,933‌

$

682,055,821‌

Authorized

shares:

Common

Unlimited

Unlimited

†

Long-term

investments,

cost

$

122,124,823‌

$

634,757,781‌

◊

Short-term

investments,

cost

$

—‌

$

1,500,000‌

Statement

of

Operations

Year

Ended

March

31,

2023

See

Notes

to

Financial

Statements

57

NIM

NXP

INVESTMENT

INCOME

Interest

$

4,213,244‌

$

25,472,142‌

Total

investment

income

4,213,244‌

25,472,142‌

EXPENSES

–

–

Management

fees

565,234‌

1,256,946‌

Shareholder

servicing

agent

fees

2,557‌

26,130‌

Interest

expense

334‌

4,420‌

Trustees

fees

3,435‌

20,160‌

Custodian

expenses,

net

52,776‌

81,398‌

Investor

relations

expenses

5,156‌

27,498‌

Professional

fees

38,234‌

75,406‌

Shareholder

reporting

expenses

14,335‌

79,869‌

Stock

exchange

listing

fees

7,273‌

51,339‌

Other

12,998‌

14,598‌

Total

expenses

702,332‌

1,637,764‌

Net

investment

income

(loss)

3,510,912‌

23,834,378‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss):

Investments

(

609,605‌

)

(

9,161,030‌

)

Net

realized

gain

(loss)

(

609,605‌

)

(

9,161,030‌

)

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

(

2,678,287‌

)

(

14,972,548‌

)

Change

in

net

unrealized

appreciation

(depreciation)

(

2,678,287‌

)

(

14,972,548‌

)

Net

realized

and

unrealized

gain

(loss)

(

3,287,892‌

)

(

24,133,578‌

)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

$

223,020‌

$

(

299,200‌

)

Statement

of

Changes

in

Net

Assets

See

Notes

to

Financial

Statements

58

NIM

NXP

Year

Ended

3/31/23

Year

Ended

3/31/22

Year

Ended

3/31/23

Year

Ended

3/31/22

OPERATIONS

Net

investment

income

(loss)

$

3,510,912‌

$

3,407,001‌

$

23,834,378‌

$

13,773,025‌

Net

realized

gain

(loss)

(

609,605‌

)

(

27,479‌

)

(

9,161,030‌

)

284,495‌

Change

in

net

unrealized

appreciation

(depreciation)

(

2,678,287‌

)

(

6,402,674‌

)

(

14,972,548‌

)

(

58,188,076‌

)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

223,020‌

(

3,023,152‌

)

(

299,200‌

)

(

44,130,556‌

)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(

3,379,252‌

)

(

3,370,399‌

)

(

25,973,777‌

)

(

13,184,768‌

)

Decrease

in

net

assets

applicable

to

common

shares

from

distributions

to

common

shareholders

(

3,379,252‌

)

(

3,370,399‌

)

(

25,973,777‌

)

(

13,184,768‌

)

CAPITAL

SHARE

TRANSACTIONS

Common

shares:

Fund

Reorganization

—‌

—‌

—‌

494,258,300‌

Net

proceeds

from

shares

issued

to

shareholders

due

to

reinvestment

of

distributions

—‌

13,475‌

79,642‌

215,256‌

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

capital

share

transactions

—‌

13,475‌

79,642‌

494,473,556‌

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

(

3,156,232‌

)

(

6,380,076‌

)

(

26,193,335‌

)

437,158,232‌

Net

assets

applicable

to

common

shares

at

the

beginning

of

the

period

127,668,165‌

134,048,241‌

708,249,156‌

271,090,924‌

Net

assets

applicable

to

common

shares

at

the

end

of

the

period

$

124,511,933‌

$

127,668,165‌

$

682,055,821‌

$

708,249,156‌

Financial

Highlights

60

The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Beginning

Common

Share

NAV

Net

Investment

Income

(NII)

(Loss)

Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Accumulated

Net

Realized

Gains

Total

Ending

NAV

Ending

Share

Price

NIM

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

3/31/19

10.34

0.33

0.21

0.54

(

0.32

)

—

(

0.32

)

10.56

9.96

NXP

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

3/31/19

15.12

0.57

0.37

0.94

(

0.55

)

—

(

0.55

)

15.51

14.64

(a)

Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

dividend

income

at

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.

See

Notes

to

Financial

Statements

61

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NIM

NXP

3/31/23

—

%

—

%

3/31/22

—

—

3/31/21

—

—

3/31/20

—

—

3/31/19

—

—

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

NAV(a)

Based

on

Share

Price(a)

Ending

Net

Assets

(000)

Expenses(b)

Net

Investment

Income

(Loss)

Portfolio

Turnover

Rate(c)

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

5

.28‌

6

.16‌

131,462

0

.57‌

3

.18‌

16‌

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

6

.34‌

8

.51‌

256,937

0

.26‌

3

.77‌

17‌

(b)

The

expense

ratios

reflect,

among

other

things,

the

interest

expense

and

other

costs

related

to

borrowings

(as

described

in

Notes

to

Financial

Statements)

and/

or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

in

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:

(c)

Portfolio

Turnover

Rate

is

calculated

based

on

the

lesser

of

long-term

purchases

or

sales

(as

disclosed

in

Notes

to

Financial

Statements)

divided

by

the

average

long-term

market

value

during

the

period.

62

Notes

to

Financial

Statements

1.

General

Information 

Fund

Information

The

funds

covered

in

this

report

and

their

corresponding

New

York

Stock

Exchange

(“NYSE”)

symbols

are

as

follows

(each

a

“Fund”

and

collectively,

the

“Funds”):

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

Nuveen

Select

Tax-Free

Income

Portfolio

(NXP)

The

Funds

are

registered

under

the

Investment

Company

Act

of

1940

(the

“1940

Act”),

as

amended,

as

diversified

closed-end

management

investment

companies.

NIM

and

NXP

were

organized

as

Massachusetts

business

trusts

on

July

23,

1992

and

January

29,

1992,

respectively.

Current

Fiscal

Period

The

end

of

the

reporting

period

for

the

Funds

is

March

31,

2023,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

fiscal

year

ended

March

31,

2023

(the

“current

fiscal

period”).

Investment

Adviser

and

Sub-Adviser

The

Fund’s

investment

adviser

is

Nuveen

Fund

Advisors,

LLC

(the

“Adviser”),

a

subsidiary

of

Nuveen,

LLC

(“Nuveen”).

Nuveen

is

the

investment

management

arm

of

Teachers

Insurance

and

Annuity

Association

of

America

(TIAA).

The

Adviser

has

overall

responsibility

for

management

of

the

Funds,

oversees

the

management

of

the

Funds’

portfolios,

manages

the

Funds’

business

affairs

and

provides

certain

clerical,

bookkeeping

and

other

administrative

services,

and,

if

necessary,

asset

allocation

decisions.

The

Adviser

has

entered

into

sub-advisory

agreements

with

Nuveen

Asset

Management,

LLC

(the

“Sub-Adviser”),

a

subsidiary

of

the

Adviser,

under

which

the

Sub-Adviser

manages

the

investment

portfolio

of

the

Funds.

Fund

Reorganization

Effective

prior

to

the

opening

of

business

on

December

6,

2021,

Nuveen

Select

Tax-Free

Income

Portfolio

2

(NXQ)

and

Nuveen

Select

Tax-Free

Income

Portfolio

3

(NXR)

(the

“Target

Funds”)

were

reorganized

into

NXP

(the

“Acquiring

Fund”)

(the

“Reorganization”).

For

accounting

and

performance

reporting

purposes,

the

Acquiring

Fund

is

the

survivor.

Upon

the

closing

of

the

Reorganization,

the

Target

Funds

transferred

their

assets

to

the

Acquiring

Fund

in

exchange

for

common

shares

of

the

Acquiring

Fund

and

the

assumption

by

the

Acquiring

Fund

of

the

liabilities

of

the

Target

Funds.

The

Target

Funds

were

then

liquidated,

dissolved

and

terminated

in

accordance

with

their

Declaration

of

Trust.

Shareholders

of

the

Target

Funds

became

shareholders

of

the

Acquiring

Fund.

Holders

of

common

shares

of

the

Target

Funds

received

newly

issued

common

shares

of

the

Acquiring

Fund,

the

aggregate

net

asset

value

(“NAV”)

of

which

was

equal

to

the

aggregate

NAV

of

the

common

shares

of

the

Target

Funds

held

immediately

prior

to

the

Reorganization

(including

for

this

purpose

fractional

Acquiring

Fund

shares

to

which

shareholders

were

entitled).

Developments

Regarding

the

Funds’

Control

Share

By-Law

On

October

5,

2020,

the

Funds

and

certain

other

closed-end

funds

in

the

Nuveen

fund

complex

amended

their

by-laws.

Among

other

things,

the

amended

by-laws

included

provisions

pursuant

to

which,

in

summary,

a

shareholder

who

obtains

beneficial

ownership

of

common

shares

in

a

Control

Share

Acquisition

(as

defined

in

the

by-laws)

shall

have

the

same

voting

rights

as

other

common

shareholders

only

to

the

extent

authorized

by

the

other

disinterested

shareholders

(the

“Control

Share

By-Law”).

On

January

14,

2021,

a

shareholder

of

certain

Nuveen

closed-end

funds

filed

a

civil

complaint

in

the

U.S.

District

Court

for

the

Southern

District

of

New

York

(the

“District

Court”)

against

certain

Nuveen

funds

and

their

trustees,

seeking

a

declaration

that

such

funds’

Control

Share

By-Laws

violate

the

1940

Act,

rescission

of

such

fund’s

Control

Share

By-Laws

and

a

permanent

injunction

against

such

funds

applying

the

Control

Share

By-Laws.

On

February

18,

2022,

the

District

Court

granted

judgment

in

favor

of

the

plaintiff’s

claim

for

rescission

of

such

funds’

Control

Share

By-Laws

and

the

plaintiff’s

declaratory

judgment

claim,

and

declared

that

such

funds’

Control

Share

By-Laws

violate

Section

18(i)

of

the

1940

Act.

Following

review

of

the

judgment

of

the

District

Court,

on

February

22,

2022,

the

Board

of

Trustees

(the

“Board”)

amended

the

Funds’

by-laws

to

provide

that

the

Funds’

Control

Share

By-Law

shall

be

of

no

force

and

effect

for

so

long

as

the

judgment

of

the

District

Court

is

effective

and

that

if

the

judgment

of

the

District

Court

is

reversed,

overturned,

vacated,

stayed,

or

otherwise

nullified,

the

Funds’

Control

Share

By-Law

will

be

automatically

reinstated

and

apply

to

any

beneficial

owner

of

common

shares

acquired

in

a

Control

Share

Acquisition,

regardless

of

whether

such

Control

Share

Acquisition

occurs

before

or

after

such

reinstatement,

for

the

duration

of

the

stay

or

upon

issuance

of

the

mandate

reversing,

overturning,

vacating

or

otherwise

nullifying

the

judgment

of

the

District

Court.

On

February

25,

2022,

the

Board

and

the

Funds

appealed

the

District

Court’s

decision

to

the

U.S.

Court

of

Appeals

for

the

Second

Circuit.

2.

Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates.

Each

Fund

is

an

investment

company

and

follows

accounting

guidance

in

the

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies.

The

NAV

for

financial

reporting

purposes

may

differ

from

the

63

NAV

for

processing

security

and shareholder

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

common

share

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

security

and

common

share

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Compensation

The

Funds pay

no

compensation

directly

to

those

of

its

trustees

or

to

its

officers,

all

of

whom

receive

remuneration

for

their

services

to

each

Fund

from

the

Adviser

or

its

affiliates.

The Board has

adopted

a

deferred

compensation

plan

for

independent

trustees

that

enables

trustees

to

elect

to

defer

receipt

of

all

or

a

portion

of

the

annual

compensation

they

are

entitled

to

receive

from

certain

Nuveen-advised

funds.

Under

the

plan,

deferred

amounts

are

treated

as

though

equal

dollar

amounts

had

been

invested

in

shares

of

select

Nuveen-advised

funds.

Custodian

Fee

Credit

As

an

alternative

to

overnight

investments,

each

Fund

has

an

arrangement

with

its

custodian

bank,

State

Street

Bank

and

Trust

Company,

(the

“Custodian”)

whereby

certain

custodian

fees

and

expenses

are

reduced

by

net

credits

earned

on

each

Fund’s

cash

on

deposit

with

the

bank.

Credits

for

cash

balances

may

be

offset

by

charges

for

any

days

on

which

a

Fund

overdraws

its

account

at

the

Custodian.

The

amount

of

custodian

fee

credit

earned

by

a

Fund

is

recognized

on

the

Statement

of

Operations

as

a

component

of

“Custodian

expenses,

net.”

During

the

current

reporting

period,

the

custodian

fee

credit

earned

by

each

Fund

was

as

follows:

Distributions

to

Common

Shareholders

Distributions

to

common shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Indemnifications

Under

the

Funds'

organizational

documents, their

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Funds.

In

addition,

in

the

normal

course

of

business,

the Funds

enter

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Funds'

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Funds

that

have

not

yet

occurred.

However,

the Funds

have

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Investments

and

Investment

Income

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Investment

income

is

comprised

of

interest

income,

which

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums

for

financial

reporting

purposes.

Investment

income

also

reflects

payment-in-kind

(“PIK”)

interest

and

paydown

gains

and

losses,

if

any.

PIK

interest

represents

income

received

in

the

form

of

securities

in

lieu

of

cash.

Investment

income

also

reflects

dividend

income,

which

is

recorded

on

the

ex-dividend

date.

Netting

Agreements

In

the

ordinary

course

of

business,

the

Funds

may

enter

into

transactions

subject

to

enforceable

International

Swaps

and

Derivatives

Association,

Inc.

(ISDA)

master

agreements

or

other

similar

arrangements

(“netting

agreements”).

Generally,

the

right

to

offset

in

netting

agreements

allows

each

Fund

to

offset

certain

securities

and

derivatives

with

a

specific

counterparty,

when

applicable,

as

well

as

any

collateral

received

or

delivered

to

that

counterparty

based

on

the

terms

of

the

agreements.

Generally,

each

Fund

manages

its

cash

collateral

and

securities

collateral

on

a

counterparty

basis.

With

respect

to

certain

counterparties,

in

accordance

with

the

terms

of

the

netting

agreements,

collateral

posted

to

the

Funds

is

held

in

a

segregated

account

by

the

Funds’

custodian

and/or

with

respect

to

those

amounts

which

can

be

sold

or

repledged,

are

presented

in

the

Funds’

Portfolio

of

Investments

or

Statements

of

Assets

and

Liabilities.

The

Funds’

investments

subject

to

netting

agreements

as

of

the

end

of

the

reporting

period,

if

any,

are

further

described

in

Note

4

-

Portfolio

Securities

and

Investments

in

Derivatives.

New

Accounting

Pronouncements

and

Rule

Issuances

Reference

Rate

Reform

In

March

2020,

FASB

issued

Accounting

Standards

Update

("ASU")

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies

to,

provided

the

only

change

to

existing

contracts

are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

Fund

Gross

Custodian

Fee

Credits

NIM

$

320

NXP

8,806

64

Notes

to

Financial

Statements

(continued)

and

existing

contracts,

the

Funds

may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022.

In

December

2022,

FASB

deferred

ASU

2022-04

and

issued

ASU

2022-06,

Reference

Rate

Reform:

Deferral

of

the

Sunset

Date

of

Topic

848,

which

extends

the

application

of

the

amendments

through

December

31,

2024.

Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the

Funds’

investments

and

has

currently

determined

that

it

is

unlikely

the

ASU’s

adoption

will

have

a

significant

impact

on

the

Funds’

financial

statements

and

various

filings.

New

Rules

to

Modernize

Fund

Valuation

Framework

Take

Effect

A

new

rule

adopted

by

the

Securities

and

Exchange

Commission

(the

"SEC")

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

2(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The

Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

FASB

issues

ASU

2022-03-Fair

Value

Measurement

(Topic

820),

Fair

Value

Measurement

of

Equity

Securities

Subject

to

Contractual

Sale

Restrictions

("ASU

2022-03")

In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

("Topic

820").

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-

03

(1)

clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

equity

security,

(2)

amends

a

related

illustrative

example,

and

(3)

introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820.

For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds'

financial

statements.

3.

Investment

Valuation

and

Fair

Value

Measurements 

The

Funds’

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the

Funds’

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported sales

price

or

official

closing

price of such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the valuation

date.

For

events affecting

the value

of

foreign

securities

between

the

time

when

the

exchange

on

which

they

are

traded

closes

and

the

time

when

the

Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board. To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price, these

securities

are

generally

classified

as

Level

2.

Prices

of

fixed-income

securities

are

generally

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser

and

oversight

of

the

Board. Pricing

services

establish

a

security’s

fair

value

using

methods

that

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2.

For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

65

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor’s

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as

Level

2;

otherwise

they

would

be

classified

as

Level

3.

The

following

table

summarizes

the

market

value

of

the

Funds’

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

4.

Portfolio

Securities

and

Investments

in

Derivatives

Portfolio

Securities

Inverse

Floating

Rate

Securities

Each

Fund

is

authorized

to

invest

in

inverse

floating

rate

securities.

An

inverse

floating

rate

security

is

created

by

depositing

a

municipal

bond

(referred

to

as

an

“Underlying

Bond”),

typically

with

a

fixed

interest

rate,

into

a

special

purpose

tender

option

bond

(“TOB”)

trust

(referred

to

as

the

“TOB

Trust”)

created

by

or

at

the

direction

of

one

or

more

Funds.

In

turn,

the

TOB

Trust

issues

(a)

floating

rate

certificates

(referred

to

as

“Floaters”),

in

face

amounts

equal

to

some

fraction

of

the

Underlying

Bond’s

par

amount

or

market

value,

and

(b)

an

inverse

floating

rate

certificate

(referred

to

as

an

“Inverse

Floater”)

that

represents

all

remaining

or

residual

interest

in

the

TOB

Trust.

Floaters

typically

pay

short-term

tax-exempt

interest

rates

to

third

parties

who

are

also

provided

a

right

to

tender

their

certificate

and

receive

its

par

value,

which

may

be

paid

from

the

proceeds

of

a

remarketing

of

the

Floaters,

by

a

loan

to

the

TOB

Trust

from

a

third

party

liquidity

provider

(“Liquidity

Provider”),

or

by

the

sale

of

assets

from

the

TOB

Trust.

The

Inverse

Floater

is

issued

to

a

long

term

investor,

such

as

one

or

more

of

the

Funds.

The

income

received

by

the

Inverse

Floater

holder

varies

inversely

with

the

short-term

rate

paid

to

holders

of

the

Floaters,

and

in

most

circumstances

the

Inverse

Floater

holder

bears

substantially

all

of

the

Underlying

Bond’s

downside

investment

risk

and

also

benefits

disproportionately

from

any

potential

appreciation

of

the

Underlying

Bond’s

value.

The

value

of

an

Inverse

Floater

will

be

more

volatile

than

that

of

the

Underlying

Bond

because

the

interest

rate

is

dependent

on

not

only

the

fixed

coupon

rate

of

the

Underlying

Bond

but

also

on

the

short-term

interest

paid

on

the

Floaters,

and

because

the

Inverse

Floater

essentially

bears

the

risk

of

loss

(and

possible

gain)

of

the

greater

face

value

of

the

Underlying

Bond.

The

Inverse

Floater

held

by

a

Fund

gives

the

Fund

the

right

to

(a)

cause

the

holders

of

the

Floaters

to

tender

their

certificates

at

par

(or

slightly

more

than

par

in

certain

circumstances),

and

(b)

have

the

trustee

of

the

TOB

Trust

(the

“Trustee”)

transfer

the

Underlying

Bond

held

by

the

TOB

Trust

to

the

Fund,

thereby

collapsing

the

TOB

Trust.

The

Fund

may

acquire

an

Inverse

Floater

in

a

transaction

where

it

(a)

transfers

an

Underlying

Bond

that

it

owns

to

a

TOB

Trust

created

by

a

third

party

or

(b)

transfers

an

Underlying

Bond

that

it

owns,

or

that

it

has

purchased

in

a

secondary

market

transaction

for

the

purpose

of

creating

an

Inverse

Floater,

to

a

TOB

Trust

created

at

its

direction,

and

in

return

receives

the

Inverse

Floater

of

the

TOB

Trust

(referred

to

as

a

“self-deposited

Inverse

Floater”).

A

Fund

may

also

purchase

an

Inverse

Floater

in

a

secondary

market

transaction

from

a

third

party

creator

of

the

TOB

Trust

without

first

owning

the

Underlying

Bond

(referred

to

as

an

“externally-deposited

Inverse

Floater”).

An

investment

in

a

self-deposited

Inverse

Floater

is

accounted

for

as

a

“financing”

transaction

(i.e.,

a

secured

borrowing).

For

a

self-deposited

Inverse

Floater,

the

Underlying

Bond

deposited

into

the

TOB

Trust

is

identified

in

the

Fund’s

Portfolio

of

Investments

as

“(UB)

–

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction,”

with

the

Fund

recognizing

as

liabilities,

labeled

“Floating

rate

obligations”

on

the

Statement

of

Assets

and

Liabilities,

(a)

the

liquidation

value

of

Floaters

issued

by

the

TOB

Trust,

and

(b)

the

amount

of

any

borrowings

by

the

TOB

Trust

from

a

Liquidity

Provider

to

enable

the

TOB

Trust

to

purchase

outstanding

Floaters

in

lieu

of

a

remarketing.

In

addition,

the

Fund

recognizes

in

“Investment

Income”

the

entire

earnings

of

the

Underlying

Bond,

and

recognizes

(a)

the

interest

paid

to

the

holders

of

the

Floaters

or

on

the

TOB

NIM

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Municipal

Bonds

$

–

$

117,830,714

$

–

$

117,830,714

Common

Stocks

–

5,076,441

–

5,076,441

Asset-Backed

and

Mortgage-Backed

Securities

–

258,560

–

258,560

Total

$

–

$

123,165,715

$

–

$

123,165,715

1

NXP

Level

1

Level

2

Level

3

Total

Long-Term

Investments*:

Municipal

Bonds

$

–

$

668,728,001

$

–

$

668,728,001

Common

Stocks

–

7,455,082

–

7,455,082

Short-Term

Investments:

Municipal

Bonds

–

1,500,000

–

1,500,000

Total

$

–

$

677,683,083

$

–

$

677,683,083

1

*

Refer

to

the

Fund's

Portfolio

of

Investments

for

state

and/or

industry

classifications.

66

Notes

to

Financial

Statements

(continued)

Trust’s

borrowings,

and

(b)

other

expenses

related

to

remarketing,

administration,

trustee,

liquidity

and

other

services

to

a

TOB

Trust,

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations.

Earnings

due

from

the

Underlying

Bond

and

interest

due

to

the

holders

of

the

Floaters

as

of

the

end

of

the

reporting

period

are

recognized

as

components

of

“Receivable

for

interest”

and

“Payable

for

interest”

on

the

Statement

of

Assets

and

Liabilities,

respectively.

In

contrast,

an

investment

in

an

externally-deposited

Inverse

Floater

is

accounted

for

as

a

purchase

of

the

Inverse

Floater

and

is

identified

in

the

Fund’s

Portfolio

of

Investments

as

“(IF)

–

Inverse

floating

rate

investment.”

For

an

externally-deposited

Inverse

Floater,

a

Fund’s

Statement

of

Assets

and

Liabilities

recognizes

the

Inverse

Floater

and

not

the

Underlying

Bond

as

an

asset,

and

the

Fund

does

not

recognize

the

Floaters,

or

any

related

borrowings

from

a

Liquidity

Provider,

as

a

liability.

Additionally,

the

Fund

reflects

in

“Investment

Income”

only

the

net

amount

of

earnings

on

the

Inverse

Floater

(net

of

the

interest

paid

to

the

holders

of

the

Floaters

or

the

Liquidity

Provider

as

lender,

and

the

expenses

of

the

Trust),

and

does

not

show

the

amount

of

that

interest

paid

or

the

expenses

of

the

TOB

Trust

as

described

above

as

interest

expense

on

the

Statement

of

Operations.

Fees

paid

upon

the

creation

of

a

TOB

Trust

for

self-deposited

Inverse

Floaters

and

externally-deposited

Inverse

Floaters

are

recognized

as

part

of

the

cost

basis

of

the

Inverse

Floater

and

are

capitalized

over

the

term

of

the

TOB

Trust.

During

the

current

fiscal

period,

the

Funds

did

not

have

any

transactions

in

self-deposited

Inverse

Floaters

and/or

externally-deposited

Inverse

Floaters. 

Zero

Coupon

Securities

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Investment

Transactions

Long-term

purchases

and

sales

(including

maturities)

during

the

current

fiscal

period

were

as

follows:

The

Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

The

Funds

have

earmarked

securities

in

their

portfolios

with

a

current

value

at

least

equal

to

the

amount

of

the

when-issued/

delayed

delivery

purchase

commitments.

If

a

Fund

has

outstanding

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

reporting

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

Investments

in

Derivatives

In

addition

to

the

inverse

floating

rate

securities

in

which each

Fund

may

invest,

which

are

considered

portfolio

securities

for

financial

reporting

purposes, each

Fund

is

authorized

to

invest

in

certain

other

derivative

instruments

such

as

futures,

options

and

swap

contracts. 

Each

Fund

limits

its

investments

in

futures,

options

on

futures

and

swap

contracts

to

the

extent

necessary

for

the

Adviser

to

claim

the

exclusion

from

registration

by

the

Commodity Futures

Trading

Commission

as

a

commodity

pool

operator

with

respect

to

the

Fund. 

The

Funds

record

derivative

instruments

at

fair

value,

with

changes

in

fair

value

recognized

on

the

Statement

of

Operations,

where

applicable. 

Even

though

the

Funds'

investments

in

derivatives

may

represent

economic

hedges,

they

are

not

considered

to

be

hedge

transactions

for

financial

reporting

purposes.

Although

the

Funds

are

authorized

to

invest

in

derivative

instruments

and

may

do

so

in

the

future, they

did

not

make

any

such

investments

during

the

current

fiscal

period.

Market

and

Counterparty

Credit

Risk

In

the

normal

course

of

business

each

Fund

may

invest

in

financial

instruments

and

enter

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk)

or

failure

of

the

other

party

to

the

transaction

to

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

of

the

financial

assets

recorded

on

the

financial

statements.

Financial

assets,

which

potentially

expose

each

Fund

to

counterparty

credit

risk,

consist

principally

of

cash

due

from

counterparties

on

forward,

option

and

swap

transactions,

when

applicable.

The

extent

of

each

Fund’s

exposure

to

counterparty

credit

risk

in

respect

to

these

financial

assets

approximates

their

carrying

value

as

recorded

on

the

Statement

of

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

by

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

financial

resources

to

honor

their

obligations

and

by

having

the

Adviser

monitor

the

financial

stability

of

the

counterparties.

Additionally,

counterparties

may

be

required

to

pledge

collateral

daily

(based

on

the

daily

valuation

of

the

financial

asset)

on

behalf

of

each

Fund

with

a

value

approximately

equal

to

the

amount

of

any

unrealized

gain

above

a

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

an

unrealized

loss,

the

Funds

have

instructed

the

custodian

to

pledge

assets

of

the

Funds

as

collateral

with

a

value

approximately

equal

to

the

amount

of

the

unrealized

loss

above

a

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

if

and

when

the

valuations

fluctuate,

either

up

or

down,

by

at

least

the

predetermined

threshold

amount.

Fund

Purchases

Sales

and

Maturities

NIM

$

26,292,023

$

26,211,270

NXP

148,447,136

153,104,403

67

5.

Fund

Shares

Common Share

Transactions

Transactions

in common

shares

for

the

Funds

during

the

Funds’

current

and

prior

fiscal

period,

where

applicable,

were

as

follows:

6.

Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

intends

to

satisfy

conditions

that

will

enable

interest

from

municipal

securities,

which

is

exempt

from

regular

federal

income

tax,

to

retain

such

tax-exempt

status

when

distributed

to

shareholders

of

the

Funds.

Net

realized

capital

gains

and

ordinary

income

distributions

paid

by

the

Funds

are

subject

to

federal

taxation.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

paydowns

and

taxable

market

discount.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund's

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes  were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid

was

as

follows:

NIM

NXP

Year

Ended

3/31/23

Year

Ended

3/31/22

Year

Ended

3/31/23

Year

Ended

3/31/22

Common

Shares:

Issued

in

the

Reorganization

—

—

—

30,196,588

Issued

to

shareholders

due

to

reinvestment

of

distributions

—

1,234

5,577

12,844

Total

—

1,234

5,577

30,209,432

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

NIM

$

122,052,158

$

6,054,860

$

(4,941,303)

$

1,113,557

NXP

632,876,650

54,752,463

(9,946,030)

44,806,433

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

$

358,783

$

—

$

—

$

1,113,557

$

(680,298)

$

—

$

(261,379)

$

530,663

NXP

3,957,408

—

—

44,806,433

(20,029,095)

—

(2,270,027)

26,464,719

1

Undistributed

tax-exempt

income

(on

a

tax

basis)

has

not

been

reduced

for

the

dividend

declared

on

March

1,

2023,

and

paid

on

April

3,

2023.

3/31/23

3/31/22

Fund

Tax-Exempt

Income

1

Ordinary

Income

Long-Term

Capital

Gains

Tax-Exempt

Income

Ordinary

Income

Long-Term

Capital

Gains

NIM

$

3,374,517

$

4,735

$

—

$

3,360,442

$

532

$

9,425

NXP

25,970,338

3,439

—

12,980,473

204,295

—

1

Each

Fund

designates

these

amounts

paid

during

the

period

as

Exempt

Interest

Dividends.

68

Notes

to

Financial

Statements

(continued)

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

7.

Management

Fees

and

Other

Transactions

with

Affiliates

Management

Fees

Each

Fund’s

management

fee

compensates

the

Adviser

for

the

overall

investment

advisory

and

administrative

services

and

general

office

facilities.

The

Sub-Adviser

is

compensated

for

its

services

to

the

Funds

from

the

management

fees

paid

to

the

Adviser.

Each

Fund’s

management

fee

consists

of

two

components

–

a

fund-level

fee,

based

only

on

the

amount

of

assets

within

each

individual

Fund,

and

a

complex-level

fee,

based

on

the

aggregate

amount

of

all

eligible

fund

assets

managed

by

the

Adviser.

This

pricing

structure

enables

each

Fund’s

shareholders

to

benefit

from

growth

in

the

assets

within

their

respective

Fund

as

well

as

from

growth

in

the

amount

of

complex-wide

assets

managed

by

the

Adviser.

The

annual

fund-level

fee,

payable

monthly,

for

each

Fund

is

calculated

according

to

the

following

schedules:

The

annual

complex-level

fee,

payable

monthly,

for

each

Fund

is

calculated

by

multiplying

the

current

complex-wide

fee

rate,

determined

according

to

the

following

schedule

by

the

Fund’s

daily

managed

assets:

*

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

Fund

Short-Term

Long-Term

Total

NIM

$

209,339

$

470,959

$

680,298

NXP

1

5,435,439

14,593,656

20,029,095

1

A

portion

of

NXP’s

capital

loss

carryforwards

is

subject

to

limitation

under

the

Internal

Revenue

Code

and

related

regulations.

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

69

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,

2023,

the

complex-level

fee

for

each

Fund

was

as

follows:

Other

Transactions

with

Affiliates 

Each

Fund

is

permitted

to

purchase

or

sell

securities

from

or

to

certain

other

funds

or

accounts

managed

by

the

Sub-Adviser

(“Affiliated

Entity”)

under

specified

conditions

outlined

in

procedures

adopted

by

the

Board

("cross-trade").

These

procedures

have

been

designed

to

ensure

that

any

cross-trade

of

securities

by

the

Fund

from

or

to

an

Affiliated

Entity

by

virtue

of

having

a

common

investment

adviser

(or

affiliated

investment

adviser),

common

officer

and/or

common

trustee

complies

with

Rule

17a-7

under

the

1940

Act.

These

transactions

are

effected

at

the

current

market

price

(as

provided

by

an

independent

pricing

service)

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engaged

in

cross-trades

pursuant

to

these

procedures

as

follows: 

8.

Borrowing

Arrangements

Committed

Line

of

Credit

The

Funds,

along

with

certain

other

funds

managed

by

the

Adviser

(“Participating

Funds”),

have

established

a

364-day,

$2.700

billion

standby

credit

facility

with

a

group

of

lenders,

under

which

the

Participating

Funds

may

borrow

for

temporary

purposes

(other

than

on-going

leveraging

for

investment

purposes).

Each

Participating

Fund

is

allocated

a

designated

proportion

of

the

facility’s

capacity

(and

its

associated

costs,

as

described

below)

based

upon

a

multi-factor

assessment

of

the

likelihood

and

frequency

of

its

need

to

draw

on

the

facility,

the

size

of

the

Fund

and

its

anticipated

draws,

and

the

potential

importance

of

such

draws

to

the

operations

and

well-being

of

the

Fund,

relative

to

those

of

the

other

Funds.

A

Fund

may

effect

draws

on

the

facility

in

excess

of

its

designated

capacity

if

and

to

the

extent

that

other

Participating

Funds

have

undrawn

capacity.

The

credit

facility

expires

in

June

2023

unless

extended

or

renewed.

The

credit

facility

has

the

following

terms:

0.15%

per

annum

on

unused

commitment

amounts

and

a

drawn

interest

rate

equal

to

the

higher

of

(a)

OBFR

(Overnight

Bank

Funding

Rate)

plus

1.20%

per

annum

or

(b)

the

Fed

Funds

Effective

Rate

plus

1.20%

per

annum

on

amounts

borrowed.

The

Participating

Funds

also

incurred

a

0.05%

upfront

fee

on

the

increased

commitments

from

select

lenders.

Interest

expense

incurred

by

the

Participating

Funds,

when

applicable,

is

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations.

Participating

Funds

paid

administration,

legal

and

arrangement

fees,

which

are

recognized

as

a

component

of

“Interest

expense”

on

the

Statement

of

Operations,

and

along

with

commitment

fees,

have

been

allocated

among

such

Participating

Funds

based

upon

the

relative

proportions

of

the

facility’s

aggregate

capacity

reserved

for

them

and

other

factors

deemed

relevant

by

the

Adviser

and

the

Board

of

each

Participating

Fund.

During

the

current

fiscal

period,

the

following

Fund

utilized

this

facility.

The

Fund’s

maximum

outstanding

balance

during

the

utilization

period

was

as

follows:

During

the

Fund’s

utilization

period(s)

during

the

current

fiscal

period,

the

average

daily

balance

outstanding

and

average

annual

interest

rate

on

the

Borrowings

were

as

follows:

Fund

Complex-Level

Fee

NIM

0.1591%

NXP

0.1591%

Fund

Purchases

Sales

Realized

Gain

(Loss)

NIM

$

—

$

—

$

—

NXP

20,671,216

16,657,324

(1,964,300)

Fund

Maximum

Outstanding

Balance

NIM

$

—

NXP

2,136,757

Fund

Utilization

Period

(Days

Outstanding)

Average

Daily

Balance

Outstanding

Average

Annual

Interest

Rate

NIM

—

$

—

—

%

NXP

9

1,760,781

4.50

70

Notes

to

Financial

Statements

(continued)

Borrowings

outstanding

as

of

the

end

of

the

reporting

period,

if

any,

are

recognized

as

“Borrowings”

on

the

Statement

of

Assets

and

Liabilities,

where

applicable.

Inter-Fund

Borrowing

and

Lending

The

SEC

has

granted

an

exemptive

order

permitting

registered

open-end

and

closed-end

Nuveen

funds

to

participate

in

an

inter-fund

lending

facility

whereby

the

Nuveen

funds

may

directly

lend

to

and

borrow

money

from

each

other

for

temporary

purposes

(e.g.,

to

satisfy

redemption

requests

or

when

a

sale

of

securities

“fails,”

resulting

in

an

unanticipated

cash

shortfall)

(the

“Inter-Fund

Program”).

The

closed-end

Nuveen

funds,

including

the

Funds

covered

by

this

shareholder

report,

will

participate

only

as

lenders,

and

not

as

borrowers,

in

the

Inter-Fund

Program

because

such

closed-end

funds

rarely,

if

ever,

need

to

borrow

cash

to

meet

redemptions.

The

Inter-Fund

Program

is

subject

to

a

number

of

conditions,

including,

among

other

things,

the

requirements

that

(1)

no

fund

may

borrow

or

lend

money

through

the

Inter-Fund

Program

unless

it

receives

a

more

favorable

interest

rate

than

is

typically

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction;

(2)

no

fund

may

borrow

on

an

unsecured

basis

through

the

Inter-Fund

Program

unless

the

fund’s

outstanding

borrowings

from

all

sources

immediately

after

the

inter-fund

borrowing

total

10%

or

less

of

its

total

assets;

provided

that

if

the

borrowing

fund

has

a

secured

borrowing

outstanding

from

any

other

lender,

including

but

not

limited

to

another

fund,

the

inter-fund

loan

must

be

secured

on

at

least

an

equal

priority

basis

with

at

least

an

equivalent

percentage

of

collateral

to

loan

value;

(3)

if

a

fund’s

total

outstanding

borrowings

immediately

after

an

inter-fund

borrowing

would

be

greater

than

10%

of

its

total

assets,

the

fund

may

borrow

through

the

inter-fund

loan

on

a

secured

basis

only;

(4)

no

fund

may

lend

money

if

the

loan

would

cause

its

aggregate

outstanding

loans

through

the

Inter-Fund

Program

to

exceed

15%

of

its

net

assets

at

the

time

of

the

loan;

(5)

a

fund’s

inter-fund

loans

to

any

one

fund

shall

not

exceed

5%

of

the

lending

fund’s

net

assets;

(6)

the

duration

of

inter-fund

loans

will

be

limited

to

the

time

required

to

receive

payment

for

securities

sold,

but

in

no

event

more

than

seven

days;

and

(7)

each

inter-fund

loan

may

be

called

on

one

business

day’s

notice

by

a

lending

fund

and

may

be

repaid

on

any

day

by

a

borrowing

fund.

In

addition,

a

Nuveen

fund

may

participate

in

the

Inter-Fund

Program

only

if

and

to

the

extent

that

such

participation

is

consistent

with

the

fund’s

investment

objective

and

investment

policies.

The

Board

is

responsible

for

overseeing

the

Inter-Fund

Program.

The

limitations

detailed

above

and

the

other

conditions

of

the

SEC

exemptive

order

permitting

the

Inter-Fund

Program

are

designed

to

minimize

the

risks

associated

with

Inter-Fund

Program

for

both

the

lending

fund

and

the

borrowing

fund.

However,

no

borrowing

or

lending

activity

is

without

risk.

When

a

fund

borrows

money

from

another

fund,

there

is

a

risk

that

the

loan

could

be

called

on

one

day’s

notice

or

not

renewed,

in

which

case

the

fund

may

have

to

borrow

from

a

bank

at

a

higher

rate

or

take

other

actions

to

payoff

such

loan

if

an

inter-fund

loan

is

not

available

from

another

fund.

Any

delay

in

repayment

to

a

lending

fund

could

result

in

a

lost

investment

opportunity

or

additional

borrowing

costs.

During

the

current

reporting

period,

none

of

the

Funds

covered

by

this

shareholder

report

have

entered

into

any

inter-fund

loan

activity.

Shareholder

Update

(Unaudited)

71

CURRENT

INVESTMENT

OBJECTIVES,

INVESTMENT

POLICIES

AND

PRINCIPAL

RISKS

OF

THE

FUNDS

NUVEEN

SELECT

MATURITIES

MUNICIPAL

FUND

(NIM)

Investment

Objectives

The

Fund's

primary

investment

objective

is

current

income

exempt

from

regular

federal

income

tax,

consistent

with

the

preservation

of

capital.

Its

secondary

investment

objective

is

the

enhancement

of

portfolio

value

relative

to

the

municipal

bond

market

through

investments

in

tax-exempt

municipal

obligations

that,

in

the

opinion

of

the

Fund’s

investment

adviser,

are

underrated

or

undervalued

or

that

represent

municipal

market

sectors

that

are

undervalued.

Investment

Policies

As

a

fundamental

policy,

under

normal

circumstances,

the

Fund

will

invest

at

least 80% of

its

Assets

(as

defined

below)

in

municipal

securities

and

other

related

investments,

the

income

from

which

is

exempt

from

regular

federal

income

tax.

As

a

fundamental

policy,

under

normal

circumstances,

the

Fund

will

invest

at

least 80% of

its

Assets

in

municipal

securities

with

effective

remaining

maturities

of

fifteen

years

or

less

at

the

time

of

purchase.

“Assets”

mean

the

net

assets

of

the

Fund

plus

the

amount

of

any

borrowings

for

investment

purposes.

“Managed

Assets”

mean

the

total

assets

of

the

Fund,

minus

the

sum

of

its

accrued

liabilities

(other

than

Fund

liabilities

incurred

for

the

express

purpose

of

creating

leverage).

Total

assets

for

this

purpose

shall

include

assets

attributable

to

the

Fund’s

use

of

leverage

(whether

or

not

those

assets

are

reflected

in

the

Fund’s

financial

statements

for

purposes

of

generally

accepted

accounting

principles),

and

derivatives

will

be

valued

at

their

market

value.

Under

normal

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

foregoing

policies

apply

only

at

the

time

of

any

new

investment.

Approving

Changes

in

Investment

Policies

The

Board

of

Trustees

of

the

Fund

may

change

the

policies

described

above

without

a

shareholder

vote.

However,

the

Fund’s

(i)

investment

objectives

(ii)

policy

of

investing

at

least 80% of

its

Assets

in

municipal

securities

and

other

related

investments,

the

income

from

which

is

exempt

from

regular

federal

income

tax

and

(iii)

policy

of

investing

at

least 80% of

its

Assets

in

municipal

securities

with

effective

remaining

maturities

of

fifteen

years

or

less

at

the

time

of

purchase,

may

not

be

changed

without

the

approval

of

the

holders

of

a

majority

of

the

outstanding

common

shares

and

preferred

shares

voting

together

as

a

single

class,

and

the

approval

of

the

holders

of

a

majority

of

the

outstanding

preferred

shares,

voting

separately

as

a

single

class.

A

“majority

of

the

outstanding”

shares

means

(i)

67%

or

more

of

the

shares

present

at

a

meeting,

if

the

holders

of

more

than

50%

of

the

shares

are

present

or

represented

by

proxy

or

(ii)

more

than

50%

of

the

shares,

whichever

is

less.

Portfolio

Contents

The

Fund

generally

invests

in

municipal

securities,

including

municipal

bonds,

notes,

securities

issued

to

finance

and

refinance

public

projects,

certificates

of

participation,

variable

rate

demand

obligations,

lease

obligations,

municipal

notes,

pre-refunded

municipal

bonds,

private

activity

bonds,

securities

issued

by

tender

option

bond

trusts

(“TOB

trusts”),

including

inverse

floating

rate

securities,

and

other

forms

of

municipal

bonds

and

securities,

and

other

related

instruments

that

create

exposure

to

municipal

bonds,

notes

and

securities

that

provide

for

the

payment

of

interest

income

that

is

exempt

from

regular

U.S.

federal

income

tax.

Municipal

securities

are

debt

obligations

generally

issued

by

states,

cities

and

local

authorities

and

certain

possessions

and

territories

of

the

United

States

(such

as

Puerto

Rico

and

Guam)

to

finance

or

refinance

public

purpose

projects

such

as

roads,

schools,

and

water

supply

systems.

72

Shareholder

Update

(Unaudited)

(continued)

The

Fund

may

also

invest

in

AMT

Bonds.

AMT

Bonds

may

trigger

adverse

tax

consequences

for

Fund

shareholders

who

are

subject

to

the

federal

alternative

minimum

tax.

The

Fund

may

invest

in

municipal

securities

that

represent

lease

obligations

and

certificates

of

participation

in

such

leases.

A

municipal

lease

is

an

obligation

in

the

form

of

a

lease

or

installment

purchase

that

is

issued

by

a

state

or

local

government

to

acquire

equipment

and

facilities.

Income

from

such

obligations

generally

is

exempt

from

state

and

local

taxes

in

the

state

of

issuance.

A

certificate

of

participation

represents

an

undivided

interest

in

an

unmanaged

pool

of

municipal

leases,

an

installment

purchase

agreement

or

other

instruments.

The

certificates

typically

are

issued

by

a

municipal

agency,

a

trust

or

other

entity

that

has

received

an

assignment

of

the

payments

to

be

made

by

the

state

or

political

subdivision

under

such

leases

or

installment

purchase

agreements.

Such

certificates

provide

the

Fund

with

the

right

to

a

pro

rata

undivided

interest

in

the

underlying

municipal

securities.

In

addition,

such

participations

generally

provide

the

Fund

with

the

right

to

demand

payment,

on

not

more

than

seven

days’

notice,

of

all

or

any

part

of

the

Fund’s

participation

interest

in

the

underlying

municipal

securities,

plus

accrued

interest.

The

Fund

may

invest

in

municipal

notes.

Municipal

securities

in

the

form

of

notes

generally

are

used

to

provide

for

short-term

capital

needs,

in

anticipation

of

an

issuer’s

receipt

of

other

revenues

or

financing,

and

typically

have

maturities

of

up

to

three

years.

Such

instruments

may

include

tax

anticipation

notes,

revenue

anticipation

notes,

bond

anticipation

notes,

tax

and

revenue

anticipation

notes

and

construction

loan

notes.

Tax

anticipation

notes

are

issued

to

finance

the

working

capital

needs

of

governments.

Generally,

they

are

issued

in

anticipation

of

various

tax

revenues,

such

as

income,

sales,

property,

use

and

business

taxes,

and

are

payable

from

these

specific

future

taxes.

Revenue

anticipation

notes

are

issued

in

expectation

of

receipt

of

other

kinds

of

revenue,

such

as

federal

revenues

available

under

federal

revenue

sharing

programs.

Bond

anticipation

notes

are

issued

to

provide

interim

financing

until

long-term

bond

financing

can

be

arranged.

In

most

cases,

the

long-term

bonds

then

provide

the

funds

needed

for

repayment

of

the

bond

anticipation

notes.

Tax

and

revenue

anticipation

notes

combine

the

funding

sources

of

both

tax

anticipation

notes

and

revenue

anticipation

notes.

Construction

loan

notes

are

sold

to

provide

construction

financing.

Mortgage

notes

insured

by

the

Federal

Housing

Authority

secure

these

notes;

however,

the

proceeds

from

the

insurance

may

be

less

than

the

economic

equivalent

of

the

payment

of

principal

and

interest

on

the

mortgage

note

if

there

has

been

a

default.

The

anticipated

revenues

from

taxes,

grants

or

bond

financing

generally

secure

the

obligations

of

an

issuer

of

municipal

notes.

The

Fund

may

invest

in

pre-refunded

municipal

securities.

The

principal

of

and

interest

on pre-refunded municipal

securities

are

no

longer

paid

from

the

original

revenue

source

for

the

securities.

Instead,

the

source

of

such

payments

is

typically

an

escrow

fund

consisting

of

U.S.

government

securities.

The

assets

in

the

escrow

fund

are

derived

from

the

proceeds

of

refunding

bonds

issued

by

the

same

issuer

as

the pre-refunded municipal

securities.

Issuers

of

municipal

securities

use

this

advance

refunding

technique

to

obtain

more

favorable

terms

with

respect

to

securities

that

are

not

yet

subject

to

call

or

redemption

by

the

issuer.

For

example,

advance

refunding

enables

an

issuer

to

refinance

debt

at

lower

market

interest

rates,

restructure

debt

to

improve

cash

flow

or

eliminate

restrictive

covenants

in

the

indenture

or

other

governing

instrument

for

the  pre-

refunded municipal

securities.

However,

except

for

a

change

in

the

revenue

source

from

which

principal

and

interest

payments

are

made,

the  pre-

refunded municipal

securities

remain

outstanding

on

their

original

terms

until

they

mature

or

are

redeemed

by

the

issuer.

The

Fund

may

invest

in

private

activity

bonds.

Private

activity

bonds

are

issued

by

or

on

behalf

of

public

authorities

to

obtain

funds

to

provide

privately

operated

housing

facilities,

airport,

mass

transit

or

port

facilities,

sewage

disposal,

solid

waste

disposal

or

hazardous

waste

treatment

or

disposal

facilities

and

certain

local

facilities

for

water

supply,

gas

or

electricity.

Other

types

of

private

activity

bonds,

the

proceeds

of

which

are

used

for

the

construction,

equipment,

repair

or

improvement

of

privately

operated

industrial

or

commercial

facilities,

may

constitute

municipal

securities,

although

the

current

federal

tax

laws

place

substantial

limitations

on

the

size

of

such

issues.

The

Fund

may

invest

in

inverse

floating

rate

securities

issued

by

a

TOB

trust,

the

interest

rate

on

which

varies

inversely

with

the

Securities

Industry

Financial

Markets

Association

short-term

rate,

which

resets

weekly,

or

a

similar

short-term

rate,

and

is

reduced

by

the

expenses

related

to

the

TOB

trust.

Typically,

inverse

floating

rate

securities

represent

beneficial

interests

in

a

special

purpose

trust

(sometimes

called

a

TOB

trust)

formed

by

a

third

party

sponsor

for

the

purpose

of

holding

municipal

bonds.

Inverse

floating

rate

securities

may

increase

or

decrease

in

value

at

a

greater

rate

than

the

underlying

interest

rate

on

the

municipal

bond

held

by

the

TOB

trust,

which

effectively

leverages

the

Fund’s

investment.

The

Fund

may

invest

in

floating

rate

securities

issued

by

special

purpose

trusts.

Floating

rate

securities

may

take

the

form

of

short-term

floating

rate

securities

or

the

option

period

may

be

substantially

longer.

Generally,

the

interest

rate

earned

will

be

based

upon

the

market

rates

for

municipal

securities

with

maturities

or

remarketing

provisions

that

are

comparable

in

duration

to

the

periodic

interval

of

the

tender

option,

which

may

vary

from

weekly,

to

monthly,

to

extended

periods

of

one

year

or

multiple

years.

Since

the

option

feature

has

a

shorter

term

than

the

final

maturity

or

first

call

date

of

the

underlying

bond

deposited

in

the

trust,

the

Fund

as

the

holder

of

the

floating

rate

security

relies

upon

the

terms

of

the

agreement

with

the

financial

institution

furnishing

the

option

as

well

as

the

credit

strength

of

that

institution.

As

further

assurance

of

liquidity,

the

terms

of

the

trust

provide

for

a

liquidation

of

the

municipal

security

deposited

in

the

trust

and

the

application

of

the

proceeds

to

pay

off

the

floating

rate

security.

The

trusts

that

are

organized

to

issue

both short-term  floating

rate

securities

and

inverse

floaters

generally

include

liquidation

triggers

to

protect

the

investor

in

the

floating

rate

security.

The

Fund

may

invest

in

municipal

securities

issued

by

special

taxing

districts.

Special

taxing

districts

are

organized

to

plan

and

finance

infrastructure

developments

to

induce

residential,

commercial

and

industrial

growth

and

redevelopment.

The

bond

financing

methods

such

as

tax

increment

finance,

tax

assessment,

special

services

district

and

Mello-Roos

bonds,

are

generally

payable

solely

from

taxes

or

other

revenues

attributable

to

the

specific

projects

financed

by

the

bonds

without

recourse

to

the

credit

or

taxing

power

of

related

or

overlapping

municipalities.

The

Fund

may

invest

in

zero

coupon

bonds.

A

zero

coupon

bond

is

a

bond

that

typically

does

not

pay

interest

for

the

entire

life

of

the

obligation

or

for

an

initial

period

after

the

issuance

of

the

obligation.

The

Fund

may

buy

and

sell

securities

on

a

when-issued

or

delayed

delivery

basis,

making

payment

or

taking

delivery

at

a

later

date,

normally

within

15

to

45

days

of

the

trade

date.

73

The

Fund

may

utilize

structured

notes

and

similar

instruments

for

investment

purposes

and

also

for

hedging

purposes.

Structured

notes

are

privately

negotiated

debt

obligations

where

the

principal

and/or

interest

is

determined

by

reference

to

the

performance

of

a

benchmark

asset,

market

or

interest

rate

(an

“embedded

index”),

such

as

selected

securities,

an

index

of

securities

or

specified

interest

rates,

or

the

differential

performance

of

two

assets

or

markets.

The

Fund

may

invest

in

illiquid

securities

(i.e.,

securities

that

are

not

readily

marketable),

including,

but

not

limited

to,

restricted

securities

(securities

the

disposition

of

which

is

restricted

under

the

federal

securities

laws),

securities

that

may

be

resold

only

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933,

as

amended

(the

“1933

Act”),

and

repurchase

agreements

with

maturities

in

excess

of

seven

days.

The

Fund

may

enter

into

certain

derivative

instruments

in

pursuit

of

its

investment

objectives,

including

to

seek

to

enhance

return,

to

hedge

certain

risks

of

its

investments

in

municipal

securities

or

as

a

substitute

for

a

position

in

the

underlying

asset.

Such

instruments

include

financial

futures

contracts,

swap

contracts

(including

interest

rate

swaps,

credit

default

swaps

and

municipal

market

data

rate

locks

(“MMD

Rate

Locks”)),

options

on

financial

futures,

options

on

swap

contracts

or

other

derivative

instruments.

The

Fund

may

purchase

and

sell

MMD

Rate

Locks.

An

MMD

Rate

Lock

permits

the

Fund

to

lock

in

a

specified

municipal

interest

rate

for

a

portion

of

its

portfolio

to

preserve

a

return

on

a

particular

investment

or

a

portion

of

its

portfolio

as

a

duration

management

technique

or

to

protect

against

any

increase

in

the

price

of

securities

to

be

purchased

at

a

later

date.

By

using

an

MMD

Rate

Lock,

the

Fund

can

create

a

synthetic

long

or

short

position,

allowing

the

Fund

to

select

what

the

manager

believes

is

an

attractive

part

of

the

yield

curve.

The

Fund

will

ordinarily

use

these

transactions

as

a

hedge

or

for

duration

or

risk

management

although

it

is

permitted

to

enter

into

them

to

enhance

income

or

gain

or

to

increase

the

Fund’s

yield,

for

example,

during

periods

of

steep

interest

rate

yield

curves

(i.e.,

wide

differences

between

short

term

and

long

term

interest

rates).

The

Fund

may

also

invest

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,

to

the

extent

permitted

by

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”),

the

rules

and

regulations

issued

thereunder

and

applicable

exemptive

orders

issued

by

the

Securities

and

Exchange

Commission

(“SEC”).

Use

of

Leverage

As

a

fundamental

policy,

the

Fund

will

not

leverage

its

capital

structure

by

issuing

senior

securities

such

as

preferred

shares

or

debt

instruments.

However,

the

Fund

may

borrow

for

temporary

or

emergency

purposes

or

for

repurchase

of

its

shares

as

permitted

by

the

1940

Act,

and

invest

in

certain

instruments,

including

inverse

floating

rate

securities,

that

have

the

economic

effect

of

leverage.

Temporary

Defensive

Periods

During

temporary

defensive

periods

(e.g.,

times

when,

in

the

Fund’s

investment

adviser’s

and/or

the

Fund’s

sub-adviser’s opinion,

temporary

imbalances

of

supply

and

demand

or

other

temporary

dislocations

in

the tax-exempt bond

market

adversely

affect

the

price

at

which

long-term

or

intermediate-term

municipal

securities

are

available),

the

Fund

may

invest

up

to

100%

of

its

Managed

Assets

in

short-term

investments,

including

high

quality,

short-term

securities

that

may

be

either tax-exempt or

taxable,

or

may

invest

in

short-,

intermediate-,

or

long-term

U.S.

Treasury

Bonds.

74

Shareholder

Update

(Unaudited)

(continued)

NUVEEN

SELECT

TAX-FREE

INCOME

PORTFOLIO

(NXP)

Investment

Objectives

The

Fund’s

investment

objective

is

to

provide

current

income

exempt

from

regular

federal

income

tax,

consistent

with

preservation

of

capital.

Investment

Policies

As

a

fundamental

policy,

under

normal

circumstances,

the

Fund

will

invest

at

least

80%

of

its

Assets

(as

defined

below)

in

municipal

securities

and

other

related

investments,

the

income

from

which

is

exempt

from

regular

federal

income

tax

and

federal

alternative

minimum

tax.

Additionally,

as

a

fundamental

policy,

the

Fund

may

invest

up

to

20%

of

its

Managed

Assets

(as

defined

below)

in

municipal

securities

that

pay

interest

that

is

taxable

under

the

federal

alternative

minimum

tax

applicable

to

individuals

(“AMT

Bonds”). 

The

Fund

generally

invests

in

municipal

securities

with

a

weighted

average

maturity

of

at

least

15

years,

but

it

may

be

shortened

or

lengthened,

depending

on

market

conditions

and

on

an

assessment

by

the

Fund’s

portfolio

manager

of

which

segments

of

the

municipal

securities

market

offer

the

most

favorable

relative

investment

values

and

opportunities

for

tax-exempt

income

and

total

return.

“Assets”

mean

the

net

assets

of

the

Fund

plus

the

amount

of

any

borrowings

for

investment

purposes.

“Managed

Assets”

mean

the

total

assets

of

the

Fund,

minus

the

sum

of

its

accrued

liabilities

(other

than

Fund

liabilities

incurred

for

the

express

purpose

of

creating

leverage).

Total

assets

for

this

purpose

shall

include

assets

attributable

to

the

Fund’s

use

of

leverage

(whether

or

not

those

assets

are

reflected

in

the

Fund’s

financial

statements

for

purposes

of

generally

accepted

accounting

principles),

and

derivatives

will

be

valued

at

their

market

value.

Under

normal

circumstances:

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

foregoing

policies

apply

only

at

the

time

of

any

new

investment.

Approving

Changes

in

Investment

Policies

The

Board

of

Trustees

of

the

Fund

may

change

the

policies

described

above

without

a

shareholder

vote.

However,

the

Fund’s

(i)

investment

objective,

(ii)

policy

of

investing

at

least

80%

of

its

Assets

in

municipal

securities

and

other

related

investments,

the

income

from

which

is

exempt

from

regular

federal

income

tax

and

federal

alternative

minimum

tax

and

(iii)

policy

of

investing

up

to

20%

of

its

Managed

Assets

in

AMT

Bonds,

may

not

be

changed

without

the

approval

of

the

holders

of

a

majority

of

the

outstanding

common

shares

and

preferred

shares

voting

together

as

a

single

class,

and

the

approval

of

the

holders

of

a

majority

of

the

outstanding

preferred

shares,

voting

separately

as

a

single

class.

A

“majority

of

the

outstanding”

shares

means

(i)

67%

or

more

of

the

shares

present

at

a

meeting,

if

the

holders

of

more

than

50%

of

the

shares

are

present

or

represented

by

proxy

or

(ii)

more

than

50%

of

the

shares,

whichever

is

less.

Portfolio

Contents

The

Fund

generally

invests

in

municipal

securities.

Municipal

securities

include

municipal

bonds,

notes,

securities

issued

to

finance

and

refinance

public

projects,

certificates

of

participation,

variable

rate

demand

obligations,

lease

obligations,

municipal

notes,

pre-refunded

municipal

bonds,

private

activity

bonds,

securities

issued

by

TOB

trusts,

including

inverse

floating

rate

securities,

and

other

forms

of

municipal

bonds

and

securities,

and

other

related

instruments

that

create

exposure

to

municipal

bonds,

notes

and

securities

that

provide

for

the

payment

of

interest

income

that

is

exempt

from

regular

U.S.

federal

income

tax.

75

Municipal

securities

are

debt

obligations

generally

issued

by

states,

cities

and

local

authorities

and

certain

possessions

and

territories

of

the

United

States

(such

as

Puerto

Rico

and

Guam)

to

finance

or

refinance

public

purpose

projects

such

as

roads,

schools,

and

water

supply

systems.

The

Fund

may

also

invest

in

AMT

Bonds.

AMT

Bonds

may

trigger

adverse

tax

consequences

for

Fund

shareholders

who

are

subject

to

the

federal

alternative

minimum

tax.

The

Fund

may

invest

in

municipal

securities

that

represent

lease

obligations

and

certificates

of

participation

in

such

leases.

A

municipal

lease

is

an

obligation

in

the

form

of

a

lease

or

installment

purchase

that

is

issued

by

a

state

or

local

government

to

acquire

equipment

and

facilities.

Income

from

such

obligations

generally

is

exempt

from

state

and

local

taxes

in

the

state

of

issuance.

A

certificate

of

participation

represents

an

undivided

interest

in

an

unmanaged

pool

of

municipal

leases,

an

installment

purchase

agreement

or

other

instruments.

The

certificates

typically

are

issued

by

a

municipal

agency,

a

trust

or

other

entity

that

has

received

an

assignment

of

the

payments

to

be

made

by

the

state

or

political

subdivision

under

such

leases

or

installment

purchase

agreements.

Such

certificates

provide

the

Fund

with

the

right

to

a

pro

rata

undivided

interest

in

the

underlying

municipal

securities.

In

addition,

such

participations

generally

provide

the

Fund

with

the

right

to

demand

payment,

on

not

more

than

seven

days’

notice,

of

all

or

any

part

of

the

Fund’s

participation

interest

in

the

underlying

municipal

securities,

plus

accrued

interest.

The

Fund

may

invest

in

municipal

notes.

Municipal

securities

in

the

form

of

notes

generally

are

used

to

provide

for

short-term

capital

needs,

in

anticipation

of

an

issuer’s

receipt

of

other

revenues

or

financing,

and

typically

have

maturities

of

up

to

three

years.

Such

instruments

may

include

tax

anticipation

notes,

revenue

anticipation

notes,

bond

anticipation

notes,

tax

and

revenue

anticipation

notes

and

construction

loan

notes.

Tax

anticipation

notes

are

issued

to

finance

the

working

capital

needs

of

governments.

Generally,

they

are

issued

in

anticipation

of

various

tax

revenues,

such

as

income,

sales,

property,

use

and

business

taxes,

and

are

payable

from

these

specific

future

taxes.

Revenue

anticipation

notes

are

issued

in

expectation

of

receipt

of

other

kinds

of

revenue,

such

as

federal

revenues

available

under

federal

revenue

sharing

programs.

Bond

anticipation

notes

are

issued

to

provide

interim

financing

until

long-term

bond

financing

can

be

arranged.

In

most

cases,

the

long-term

bonds

then

provide

the

funds

needed

for

repayment

of

the

bond

anticipation

notes.

Tax

and

revenue

anticipation

notes

combine

the

funding

sources

of

both

tax

anticipation

notes

and

revenue

anticipation

notes.

Construction

loan

notes

are

sold

to

provide

construction

financing.

Mortgage

notes

insured

by

the

Federal

Housing

Authority

secure

these

notes;

however,

the

proceeds

from

the

insurance

may

be

less

than

the

economic

equivalent

of

the

payment

of

principal

and

interest

on

the

mortgage

note

if

there

has

been

a

default.

The

anticipated

revenues

from

taxes,

grants

or

bond

financing

generally

secure

the

obligations

of

an

issuer

of

municipal

notes.

The

Fund

may

invest

in

pre-refunded

municipal

securities.

The

principal

of

and

interest

on pre-refunded municipal

securities

are

no

longer

paid

from

the

original

revenue

source

for

the

securities.

Instead,

the

source

of

such

payments

is

typically

an

escrow

fund

consisting

of

U.S.

government

securities.

The

assets

in

the

escrow

fund

are

derived

from

the

proceeds

of

refunding

bonds

issued

by

the

same

issuer

as

the pre-refunded municipal

securities.

Issuers

of

municipal

securities

use

this

advance

refunding

technique

to

obtain

more

favorable

terms

with

respect

to

securities

that

are

not

yet

subject

to

call

or

redemption

by

the

issuer.

For

example,

advance

refunding

enables

an

issuer

to

refinance

debt

at

lower

market

interest

rates,

restructure

debt

to

improve

cash

flow

or

eliminate

restrictive

covenants

in

the

indenture

or

other

governing

instrument

for

the  pre-

refunded municipal

securities.

However,

except

for

a

change

in

the

revenue

source

from

which

principal

and

interest

payments

are

made,

the  pre-

refunded municipal

securities

remain

outstanding

on

their

original

terms

until

they

mature

or

are

redeemed

by

the

issuer.

The

Fund

may

invest

in

private

activity

bonds.

Private

activity

bonds

are

issued

by

or

on

behalf

of

public

authorities

to

obtain

funds

to

provide

privately

operated

housing

facilities,

airport,

mass

transit

or

port

facilities,

sewage

disposal,

solid

waste

disposal

or

hazardous

waste

treatment

or

disposal

facilities

and

certain

local

facilities

for

water

supply,

gas

or

electricity.

Other

types

of

private

activity

bonds,

the

proceeds

of

which

are

used

for

the

construction,

equipment,

repair

or

improvement

of

privately

operated

industrial

or

commercial

facilities,

may

constitute

municipal

securities,

although

the

current

federal

tax

laws

place

substantial

limitations

on

the

size

of

such

issues.

The

Fund

may

invest

in

municipal

securities

issued

by

special

taxing

districts.

Special

taxing

districts

are

organized

to

plan

and

finance

infrastructure

developments

to

induce

residential,

commercial

and

industrial

growth

and

redevelopment.

The

bond

financing

methods

such

as

tax

increment

finance,

tax

assessment,

special

services

district

and

Mello-Roos

bonds,

are

generally

payable

solely

from

taxes

or

other

revenues

attributable

to

the

specific

projects

financed

by

the

bonds

without

recourse

to

the

credit

or

taxing

power

of

related

or

overlapping

municipalities.

The

Fund

may

invest

in

zero

coupon

bonds.

A

zero

coupon

bond

is

a

bond

that

typically

does

not

pay

interest

for

the

entire

life

of

the

obligation

or

for

an

initial

period

after

the

issuance

of

the

obligation.

The

Fund

may

buy

and

sell

securities

on

a

when-issued

or

delayed

delivery

basis,

making

payment

or

taking

delivery

at

a

later

date,

normally

within

15

to

45

days

of

the

trade

date.

The

Fund

may

invest

in

inverse

floating

rate

securities

issued

by

a

TOB

trust,

the

interest

rate

on

which

varies

inversely

with

the

Securities

Industry

Financial

Markets

Association

short-term

rate,

which

resets

weekly,

or

a

similar

short-term

rate,

and

is

reduced

by

the

expenses

related

to

the

TOB

trust.

Typically,

inverse

floating

rate

securities

represent

beneficial

interests

in

a

special

purpose

trust

(sometimes

called

a

TOB

trust)

formed

by

a

third

party

sponsor

for

the

purpose

of

holding

municipal

bonds.

Inverse

floating

rate

securities

may

increase

or

decrease

in

value

at

a

greater

rate

than

the

underlying

interest

rate

on

the

municipal

bond

held

by

the

TOB

trust,

which

effectively

leverages

the

Fund’s

investment.

The

Fund

may

invest

in

floating

rate

securities

issued

by

special

purpose

trusts.

Floating

rate

securities

may

take

the

form

of

short-term

floating

rate

securities

or

the

option

period

may

be

substantially

longer.

Generally,

the

interest

rate

earned

will

be

based

upon

the

market

rates

for

municipal

securities

with

maturities

or

remarketing

provisions

that

are

comparable

in

duration

to

the

periodic

interval

of

the

tender

option,

which

may

vary

from

weekly,

to

monthly,

to

extended

periods

of

one

year

or

multiple

years.

Since

the

option

feature

has

a

shorter

term

than

the

final

maturity

or

first

call

date

of

the

underlying

bond

deposited

in

the

trust,

the

Fund

as

the

holder

of

the

floating

rate

security

relies

upon

the

terms

of

the

agreement

with

the

financial

institution

furnishing

the

option

as

well

as

the

credit

strength

of

that

institution.

As

further

assurance

of

liquidity,

the

terms

of

the

trust

76

Shareholder

Update

(Unaudited)

(continued)

provide

for

a

liquidation

of

the

municipal

security

deposited

in

the

trust

and

the

application

of

the

proceeds

to

pay

off

the

floating

rate

security.

The

trusts

that

are

organized

to

issue

both short-term  floating

rate

securities

and

inverse

floaters

generally

include

liquidation

triggers

to

protect

the

investor

in

the

floating

rate

security.

The

Fund

may

utilize

structured

notes

and

similar

instruments

for

investment

purposes

and

also

for

hedging

purposes.

Structured

notes

are

privately

negotiated

debt

obligations

where

the

principal

and/or

interest

is

determined

by

reference

to

the

performance

of

a

benchmark

asset,

market

or

interest

rate

(an

“embedded

index”),

such

as

selected

securities,

an

index

of

securities

or

specified

interest

rates,

or

the

differential

performance

of

two

assets

or

markets.

The

Fund

may

invest

in

illiquid

securities

(i.e.,

securities

that

are

not

readily

marketable),

including,

but

not

limited

to,

restricted

securities

(securities

the

disposition

of

which

is

restricted

under

the

federal

securities

laws),

securities

that

may

be

resold

only

pursuant

to

Rule

144A

under

the

1933

Act,

and

repurchase

agreements

with

maturities

in

excess

of

seven

days.

The

Fund

may

enter

into

certain

derivative

instruments

in

pursuit

of

its

investment

objective,

including

to

seek

to

enhance

return,

to

hedge

certain

risks

of

its

investments

in

municipal

securities

or

as

a

substitute

for

a

position

in

the

underlying

asset.

Such

instruments

include

financial

futures

contracts,

swap

contracts

(including

interest

rate

swaps,

credit

default

swaps

and

MMD

Rate

Locks),

options

on

financial

futures,

options

on

swap

contracts

or

other

derivative

instruments.

The

Fund

may

purchase

and

sell

MMD

Rate

Locks.

An

MMD

Rate

Lock

permits

the

Fund

to

lock

in

a

specified

municipal

interest

rate

for

a

portion

of

its

portfolio

to

preserve

a

return

on

a

particular

investment

or

a

portion

of

its

portfolio

as

a

duration

management

technique

or

to

protect

against

any

increase

in

the

price

of

securities

to

be

purchased

at

a

later

date.

By

using

an

MMD

Rate

Lock,

the

Fund

can

create

a

synthetic

long

or

short

position,

allowing

the

Fund

to

select

what

the

manager

believes

is

an

attractive

part

of

the

yield

curve.

The

Fund

will

ordinarily

use

these

transactions

as

a

hedge

or

for

duration

or

risk

management

although

it

is

permitted

to

enter

into

them

to

enhance

income

or

gain

or

to

increase

the

Fund’s

yield,

for

example,

during

periods

of

steep

interest

rate

yield

curves

(i.e.,

wide

differences

between

short

term

and

long

term

interest

rates).

The

Fund

may

also

invest

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,

to

the

extent

permitted

by

the

1940

Act,

the

rules

and

regulations

issued

thereunder

and

applicable

exemptive

orders

issued

by

the

SEC.

Use

of

Leverage

As

a

fundamental

policy,

the

Fund

will

not

leverage

its

capital

structure

by

issuing

senior

securities

such

as

preferred

shares

or

debt

instruments.

However,

the

Fund

may

borrow

for

temporary

or

emergency

purposes

or

for

repurchase

of

its

shares

as

permitted

by

the

1940

Act,

and

invest

in

certain

instruments,

including

inverse

floating

rate

securities,

that

have

the

economic

effect

of

leverage

because

the

Fund’s

investment

exposure

to

the

underlying

bonds

held

by

the

trust

have

been

effectively

financed

by

the

trust’s

issuance

of

floating

rate

certificates.

Temporary

Defensive

Periods

During

temporary

defensive

periods

(e.g.,

times

when,

in

the

Fund’s

investment

adviser’s

and/or

the

Fund’s

sub-adviser’s opinion,

temporary

imbalances

of

supply

and

demand

or

other

temporary

dislocations

in

the tax-exempt bond

market

adversely

affect

the

price

at

which

long-term

or

intermediate-term

municipal

securities

are

available),

the

Fund

may

invest

up

to

100%

of

its

Managed

Assets

in

short-term

investments,

including

high

quality,

short-term

securities

that

may

be

either tax-exempt or

taxable,

or

may

invest

in

short-,

intermediate-,

or

long-term

U.S.

Treasury

Bonds.

77

PRINCIPAL

RISKS

OF

THE

FUNDS

The

factors

that

are

most

likely

to

have

a

material

effect

on

the

Fund’s

portfolio

as

a

whole

are

called

“principal

risks.”

The

Fund

is

subject

to

the

principal

risks

indicated

below,

whether

through

direct

investment

or

derivative

positions.

The

Fund

may

be

subject

to

additional

risks

other

than

those

identified

and

described

below

because

the

types

of

investments

made

by

the

Fund

can

change

over

time.

Risk

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

Nuveen

Select

Tax-Free

Income

Portfolio

(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

Deflation

Risk

X

X

Derivatives

Risk

X

X

Distressed

Securities

Risk

X

X

Duration

Risk

X

X

Economic

Sector

Risk

X

X

Financial

Futures

and

Options

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

78

Shareholder

Update

(Unaudited)

(continued)

Risk

Nuveen

Select

Maturities

Municipal

Fund

(NIM)

Nuveen

Select

Tax-Free

Income

Portfolio

(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

79

Portfolio

Level

Risks:

Alternative

Minimum

Tax

Risk.

The

Fund

may

invest

in

AMT

Bonds.

Therefore,

a

portion

of

the

Fund’s

otherwise

exempt-interest

dividends

may

be

taxable

to

those

shareholders

subject

to

the

federal

alternative

minimum

tax.

Below

Investment

Grade

Risk.

Municipal

securities

of

below

investment

grade

quality

are

regarded

as

having

speculative

characteristics

with

respect

to

the

issuer’s

capacity

to

pay

interest

and

repay

principal,

and

may

be

subject

to

higher

price

volatility

and

default

risk

than

investment

grade

municipal

securities

of

comparable

terms

and

duration.

Issuers

of

lower

grade

municipal

securities

may

be

highly

leveraged

and

may

not

have

available

to

them

more

traditional

methods

of

financing.

The

prices

of

these

lower

grade

securities

are

typically

more

sensitive

to

negative

developments,

such

as

a

decline

in

the

issuer’s

revenues

or

a

general

economic

downturn.

The

secondary

market

for

lower

rated

municipal

securities

may

not

be

as

liquid

as

the

secondary

market

for

more

highly

rated

municipal

securities,

a

factor

which

may

have

an

adverse

effect

on

the

Fund’s

ability

to

dispose

of

a

particular

municipal

security.

If

a

below

investment

grade

municipal

security

goes

into

default,

or

its

issuer

enters

bankruptcy,

it

might

be

difficult

to

sell

that

security

in

a

timely

manner

at

a

reasonable

price.

Call

Risk.

The

Fund

may

invest

in

municipal

securities

that

are

subject

to

call

risk.

Such

municipal

securities

may

be

redeemed

at

the

option

of

the

issuer,

or

“called,”

before

their

stated

maturity

or

redemption

date.

In

general,

an

issuer

will

call

its

instruments

if

they

can

be

refinanced

by

issuing

new

instruments

that

bear

a

lower

interest

rate.

The

Fund

is

subject

to

the

possibility

that

during

periods

of

falling

interest

rates,

an

issuer

will

call

its

high

yielding

municipal

securities.

The

Fund

would

then

be

forced

to

invest

the

unanticipated

proceeds

at

lower

interest

rates,

resulting

in

a

decline

in

the

Fund’s

income.

Credit

Risk.

Issuers

of

municipal

securities

in

which

the

Fund

may

invest

may

default

on

their

obligations

to

pay

principal

or

interest

when

due.

This

non-payment

would

result

in

a

reduction

of

income

to

the

Fund,

a

reduction

in

the

value

of

a

municipal

security

experiencing

non-payment

and

potentially

a

decrease

in

the

net

asset

value

(“NAV”)

of

the

Fund.

To

the

extent

that

the

credit

rating

assigned

to

a

municipal

security

in

the

Fund’s

portfolio

is

downgraded,

the

market

price

and

liquidity

of

such

security

may

be

adversely

affected.

Credit

Spread

Risk.

Credit

spread

risk

is

the

risk

that

credit

spreads

(

i.e.,

the

difference

in

yield

between

securities

that

is

due

to

differences

in

their

credit

quality)

may

increase

when

the

market

believes

that

municipal

securities

generally

have

a

greater

risk

of

default.

Increasing

credit

spreads

may

reduce

the

market

values

of

the

Fund’s

securities.

Credit

spreads

often

increase

more

for

lower

rated

and

unrated

securities

than

for

investment

grade

securities.

In

addition,

when

credit

spreads

increase,

reductions

in

market

value

will

generally

be

greater

for

longer-maturity

securities.

Deflation

Risk.

Deflation

risk

is

the

risk

that

prices

throughout

the

economy

decline

over

time.

Deflation

may

have

an

adverse

effect

on

the

creditworthiness

of

issuers

and

may

make

issuer

default

more

likely,

which

may

result

in

a

decline

in

the

value

of

the

Fund’s

portfolio.

Derivatives

Risk.

The

use

of

derivatives

involves

additional

risks

and

transaction

costs

which

could

leave

the

Fund

in

a

worse

position

than

if

it

had

not

used

these

instruments.

Derivative

instruments

can

be

used

to

acquire

or

to

transfer

the

risk

and

returns

of

a

municipal

security

or

other

asset

without

buying

or

selling

the

municipal

security

or

asset.

These

instruments

may

entail

investment

exposures

that

are

greater

than

their

cost

would

suggest.

As

a

result,

a

small

investment

in

derivatives

can

result

in

losses

that

greatly

exceed

the

original

investment.

Derivatives

can

be

highly

volatile,

illiquid

and

difficult

to

value.

An

over-the-counter

derivative

transaction

between

the

Fund

and

a

counterparty

that

is

not

cleared

through

a

central

counterparty

also

involves

the

risk

that

a

loss

may

be

sustained

as

a

result

of

the

failure

of

the

counterparty

to

the

contract

to

make

required

payments.

The

payment

obligation

for

a

cleared

derivative

transaction

is

guaranteed

by

a

central

counterparty,

which

exposes

the

Fund

to

the

creditworthiness

of

the

central

counterparty.

The

use

of

certain

derivatives

involves

leverage,

which

can

cause

the

Fund’s

portfolio

to

be

more

volatile

than

if

the

portfolio

had

not

been

leveraged.

Leverage

can

significantly

magnify

the

effect

of

price

movements

of

the

reference

asset,

disproportionately

increasing

the

Fund’s

losses

and

reducing

the

Fund’s

opportunities

for

gains

when

the

reference

asset

changes

in

unexpected

ways.

In

some

instances,

such

leverage

could

result

in

losses

that

exceed

the

original

amount

invested.

It

is

possible

that

regulatory

or

other

developments

in

the

derivatives

market,

including

changes

in

government

regulation,

could

adversely

impact

the

Fund’s

ability

to

invest

in

certain

derivatives

or

successfully

use

derivative

instruments.

Distressed

Securities

Risk.

The

Fund

may

invest

in

low-rated

securities

or

securities

unrated

but

judged

by

the

sub-adviser

to

be

of

comparable

quality.

Some

or

many

of

these

low-rated

securities,

although

not

in

default,

may

be

“distressed,”

meaning

that

the

issuer

is

experiencing

financial

difficulties

or

distress

at

the

time

of

acquisition.

Such

securities

would

present

a

substantial

risk

of

future

default

which

may

cause

the

Fund

to

incur

losses,

including

additional

expenses,

to

the

extent

it

is

required

to

seek

recovery

upon

a

default

in

the

payment

of

principal

or

interest

on

those

securities.

In

any

reorganization

or

liquidation

proceeding

relating

to

a

portfolio

security,

the

Fund

may

lose

its

entire

investment

or

may

be

required

to

accept

cash

or

securities

with

a

value

less

than

its

original

investment.

Distressed

securities

may

be

subject

to

restrictions

on

resale.

Duration

Risk.

Duration

is

the

sensitivity,

expressed

in

years,

of

the

price

of

a

fixed-income

security

to

changes

in

the

general

level

of

interest

rates

(or

yields).

Securities

with

longer

durations

tend

to

be

more

sensitive

to

interest

rate

(or

yield)

changes,

which

typically

corresponds

to

increased

volatility

and

risk,

than

securities

with

shorter

durations.

For

example,

if

a

security

or

portfolio

has

a

duration

of

three

years

and

interest

rates

increase

by

1%,

then

the

security

or

portfolio

would

decline

in

value

by

approximately

3%.

Duration

differs

from

maturity

in

that

it

considers

potential

changes

to

interest

rates,

and

a

security’s

coupon

payments,

yield,

price

and

par

value

and

call

features,

in

addition

to

the

amount

of

time

until

the

security

matures.

The

duration

of

a

security

will

be

expected

to

change

over

time

with

changes

in

market

factors

and

time

to

maturity.

80

Shareholder

Update

(Unaudited)

(continued)

Economic

Sector

Risk.

The

Fund

may

invest

a

significant

amount

of

its

total

assets

in

municipal

securities

in

the

same

economic

sector.

This

may

make

the

Fund

more

susceptible

to

adverse

economic,

political

or

regulatory

occurrences

affecting

an

economic

sector

making

the

Fund

more

vulnerable

to

unfavorable

developments

in

that

sector

than

funds

that

invest

more

broadly.

As

the

percentage

of

the

Fund’s

Managed

Assets

invested

in

a

particular

sector

increases,

so

does

the

potential

for

fluctuation

in

the

value

of

the

Fund’s

assets.

In

addition,

the

Fund

may

invest

a

significant

portion

of

its

assets

in

certain

sectors

of

the

municipal

securities

market,

such

as

health

care

facilities,

private

educational

facilities,

special

taxing

districts

and

start-up

utility

districts,

and

private

activity

bonds

including

industrial

development

bonds

on

behalf

of

transportation

companies,

whose

credit

quality

and

performance

may

be

more

susceptible

to

economic,

business,

political,

regulatory

and

other

developments

than

other

sectors

of

municipal

issuers.

If

the

Fund

invests

a

significant

portion

of

its

assets

in

one

or

more

particular

sectors,

the

Fund’s

performance

may

be

subject

to

additional

risk

and

variability.

Financial

Futures

and

Options

Transactions

Risk.

The

Fund

may

use

certain

transactions

for

hedging

the

portfolio’s

exposure

to

credit

risk

and

the

risk

of

increases

in

interest

rates,

which

could

result

in

poorer

overall

performance

for

the

Fund.

There

may

be

an

imperfect

correlation

between

price

movements

of

the

futures

and

options

and

price

movements

of

the

portfolio

securities

being

hedged.

If

the

Fund

engages

in

futures

transactions

or

in

the

writing

of

options

on

futures,

it

will

be

required

to

maintain

initial

margin

and

maintenance

margin

and

may

be

required

to

make

daily

variation

margin

payments

in

accordance

with

applicable

rules

of

the

exchanges

and

the

Commodity

Futures

Trading

Commission

(“CFTC”).

If

the

Fund

purchases

a

financial

futures

contract

or

a

call

option

or

writes

a

put

option

in

order

to

hedge

the

anticipated

purchase

of

municipal

securities,

and

if

the

Fund

fails

to

complete

the

anticipated

purchase

transaction,

the

Fund

may

have

a

loss

or

a

gain

on

the

futures

or

options

transaction

that

will

not

be

offset

by

price

movements

in

the

municipal

securities

that

were

the

subject

of

the

anticipatory

hedge.

There

can

be

no

assurance

that

a

liquid

market

will

exist

at

a

time

when

the

Fund

seeks

to

close

out

a

derivatives

or

futures

or

a

futures

option

position,

and

the

Fund

would

remain

obligated

to

meet

margin

requirements

until

the

position

is

closed.

Hedging

Risk.

The

Fund’s

use

of

derivatives

or

other

transactions

to

reduce

risk

involves

costs

and

will

be

subject

to

the

investment

adviser’s

and/or

the

sub-adviser’s

ability

to

predict

correctly

changes

in

the

relationships

of

such

hedge

instruments

to

the

Fund’s

portfolio

holdings

or

other

factors.

No

assurance

can

be

given

that

the

investment

adviser’s

and/or

the

sub-adviser’s

judgment

in

this

respect

will

be

correct,

and

no

assurance

can

be

given

that

the

Fund

will

enter

into

hedging

or

other

transactions

at

times

or

under

circumstances

in

which

it

may

be

advisable

to

do

so.

Hedging

activities

may

reduce

the

Fund’s

opportunities

for

gain

by

offsetting

the

positive

effects

of

favorable

price

movements

and

may

result

in

net

losses.

Illiquid

Investments

Risk.

Illiquid

investments

are

investments

that

are

not

readily

marketable.

These

investments

may

include

restricted

investments,

including

Rule

144A

securities,

which

cannot

be

resold

to

the

public

without

an

effective

registration

statement

under

the

1933

Act,

or

if

they

are

unregistered

may

be

sold

only

in

a

privately

negotiated

transaction

or

pursuant

to

an

available

exemption

from

registration.

The

Fund

may

not

be

able

to

readily

dispose

of

such

investments

at

prices

that

approximate

those

at

which

the

Fund

could

sell

such

investments

if

they

were

more

widely

traded

and,

as

a

result

of

such

illiquidity,

the

Fund

may

have

to

sell

other

investments

or

engage

in

borrowing

transactions

if

necessary

to

raise

cash

to

meet

its

obligations.

Limited

liquidity

can

also

affect

the

market

price

of

investments,

thereby

adversely

affecting

the

Fund’s

NAV

and

ability

to

make

dividend

distributions.

The

financial

markets

in

general

have

in

recent

years

experienced

periods

of

extreme

secondary

market

supply

and

demand

imbalance,

resulting

in

a

loss

of

liquidity

during

which

market

prices

were

suddenly

and

substantially

below

traditional

measures

of

intrinsic

value.

During

such

periods,

some

investments

could

be

sold

only

at

arbitrary

prices

and

with

substantial

losses.

Periods

of

such

market

dislocation

may

occur

again

at

any

time.

Income

Risk.

The

Fund’s

income

could

decline

due

to

falling

market

interest

rates.

This

is

because,

in

a

falling

interest

rate

environment,

the

Fund

generally

will

have

to

invest

the

proceeds

from

maturing

portfolio

securities

in

lower-yielding

securities.

Inflation

Risk.

Inflation

risk

is

the

risk

that

the

value

of

assets

or

income

from

investments

will

be

worth

less

in

the

future

as

inflation

decreases

the

value

of

money.

As

inflation

increases,

the

real

value

of

the

common

shares

and

distributions

can

decline.

Currently,

inflation

rates

are

elevated

relative

to

normal

market

conditions

and

could

continue

to

increase.

Insurance

Risk.

The

Fund

may

purchase

municipal

securities

that

are

secured

by

insurance,

bank

credit

agreements

or

escrow

accounts.

The

credit

quality

of

the

companies

that

provide

such

credit

enhancements

will

affect

the

value

of

those

securities.

Certain

significant

providers

of

insurance

for

municipal

securities

have

incurred

significant

losses

as

a

result

of

exposure

to

sub-prime

mortgages

and

other

lower

credit

quality

investments.

As

a

result,

such

losses

reduced

the

insurers’

capital

and

called

into

question

their

continued

ability

to

perform

their

obligations

under

such

insurance

if

they

are

called

upon

to

do

so

in

the

future.

While

an

insured

municipal

security

will

typically

be

deemed

to

have

the

rating

of

its

insurer,

if

the

insurer

of

a

municipal

security

suffers

a

downgrade

in

its

credit

rating

or

the

market

discounts

the

value

of

the

insurance

provided

by

the

insurer,

the

value

of

the

municipal

security

would

more

closely,

if

not

entirely,

reflect

such

rating.

In

such

a

case,

the

value

of

insurance

associated

with

a

municipal

security

may

not

add

any

value.

The

insurance

feature

of

a

municipal

security

does

not

guarantee

the

full

payment

of

principal

and

interest

through

the

life

of

an

insured

obligation,

the

market

value

of

the

insured

obligation

or

the

NAV

of

the

common

shares

represented

by

such

insured

obligation.

Interest

Rate

Risk.

Interest

rate

risk

is

the

risk

that

municipal

securities

in

the

Fund’s

portfolio

will

decline

in

value

because

of

changes

in

market

interest

rates.

Generally,

when

market

interest

rates

rise,

the

market

value

of

such

securities

will

fall,

and

vice

versa.

As

interest

rates

decline,

issuers

of

municipal

securities

may

prepay

principal

earlier

than

scheduled,

forcing

the

Fund

to

reinvest

in

lower-yielding

securities

and

potentially

reducing

the

Fund’s

income.

As

interest

rates

increase,

slower

than

expected

principal

payments

may

extend

the

average

life

of

municipal

securities,

potentially

locking

in

a

below-market

interest

rate

and

reducing

the

Fund’s

value.

In

typical

market

interest

rate

environments,

the

prices

of

longer-

term

municipal

securities

generally

fluctuate

more

than

prices

of

shorter-term

municipal

securities

as

interest

rates

change.

81

Inverse

Floating

Rate

Securities

Risk.

The

Fund

may

invest

in

inverse

floating

rate

securities.

In

general,

income

on

inverse

floating

rate

securities

will

decrease

when

short-term

interest

rates

increase

and

increase

when

short-term

interest

rates

decrease.

Investments

in

inverse

floating

rate

securities

may

subject

the

Fund

to

the

risks

of

reduced

or

eliminated

interest

payments

and

losses

of

principal.

In

addition,

inverse

floating

rate

securities

may

increase

or

decrease

in

value

at

a

greater

rate

than

the

underlying

interest

rate,

which

effectively

leverages

the

Fund’s

investment.

As

a

result,

the

market

value

of

such

securities

generally

will

be

more

volatile

than

that

of

fixed

rate

securities.

The

Fund

may

invest

in

inverse

floating

rate

securities

issued

by

special

purpose

trusts

that

have

recourse

to

the

Fund.

In

such

instances,

the

Fund

may

be

at

risk

of

loss

that

exceeds

its

investment

in

the

inverse

floating

rate

securities.

The

Fund

may

be

required

to

sell

its

inverse

floating

rate

securities

at

less

than

favorable

prices,

or

liquidate

other

Fund

portfolio

holdings

in

certain

circumstances,

including,

but

not

limited

to,

the

following:

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.

Municipal

Securities

Market

Liquidity

Risk.

Inventories

of

municipal

securities

held

by

brokers

and

dealers

have

decreased

in

recent

years,

lessening

their

ability

to

make

a

market

in

these

securities.

This

reduction

in

market

making

capacity

has

the

potential

to

decrease

the

Fund’s

ability

to

buy

or

sell

municipal

securities

at

attractive

prices,

and

increase

municipal

security

price

volatility

and

trading

costs,

particularly

during

periods

of

economic

or

market

stress.

In

addition,

recent

federal

banking

regulations

may

cause

certain

dealers

to

reduce

their

inventories

of

municipal

securities,

which

may

further

decrease

the

Fund’s

ability

to

buy

or

sell

municipal

securities.

As

a

result,

the

Fund

may

be

forced

to

accept

a

lower

price

to

sell

a

security,

to

sell

other

securities

to

raise

cash,

or

to

give

up

an

investment

opportunity,

any

of

which

could

have

a

negative

effect

on

performance.

If

the

Fund

needed

to

sell

large

blocks

of

municipal

securities

to

raise

cash

to

meet

its

obligations,

those

sales

could

further

reduce

the

municipal

securities’

prices

and

hurt

performance.

Municipal

Securities

Market

Risk.

The

amount

of

public

information

available

about

the

municipal

securities

in

the

Fund’s

portfolio

is

generally

less

than

that

for

corporate

equities

or

bonds,

and

the

investment

performance

of

the

Fund

may

therefore

be

more

dependent

on

the

analytical

abilities

of

the

sub-adviser

than

if

the

Fund

were

a

stock

fund

or

taxable

bond

fund.

The

secondary

market

for

municipal

securities,

particularly

below

investment

grade

municipal

securities,

also

tends

to

be

less

well-developed

or

liquid

than

many

other

securities

markets,

which

may

adversely

affect

the

Fund’s

ability

to

sell

its

municipal

securities

at

attractive

prices.

Other

Investment

Companies

Risk.

The

Fund

may

invest

in

the

securities

of

other

investment

companies,

including

ETFs.

Investing

in

an

investment

company

exposes

the

Fund

to

all

of

the

risks

of

that

investment

company’s

investments.

The

Fund,

as

a

holder

of

the

securities

of

other

investment

companies,

will

bear

its

pro

rata

portion

of

the

other

investment

companies’

expenses,

including

advisory

fees.

These

expenses

are

in

addition

to

the

direct

expenses

of

the

Fund’s

own

operations.

As

a

result,

the

cost

of

investing

in

investment

company

shares

may

exceed

the

costs

of

investing

directly

in

its

underlying

investments.

In

addition,

securities

of

other

investment

companies

may

be

leveraged.

As

a

result,

the

Fund

may

be

indirectly

exposed

to

leverage

through

an

investment

in

such

securities

and

therefore

magnify

the

Fund’s

leverage

risk.

With

respect

to

ETF’s,

an

ETF

that

is

based

on

a

specific

index

may

not

be

able

to

replicate

and

maintain

exactly

the

composition

and

relative

weighting

of

securities

in

the

index.

The

value

of

an

ETF

based

on

a

specific

index

is

subject

to

change

as

the

values

of

its

respective

component

assets

fluctuate

according

to

market

volatility.

ETFs

typically

rely

on

a

limited

pool

of

authorized

participants

to

create

and

redeem

shares,

and

an

active

trading

market

for

ETF

shares

may

not

develop

or

be

maintained.

The

market

value

of

shares

of

ETFs

and

closed-end

funds

may

differ

from

their

NAV.

Puerto

Rico

Municipal

Securities

Market

Risk.

To

the

extent

that

the

Fund

invests

a

significant

portion

of

its

assets

in

the

securities

issued

by

the

Commonwealth

of

Puerto

Rico

or

its

political

subdivisions,

agencies,

instrumentalities,

or

public

corporations

(collectively

referred

to

as

“Puerto

Rico”

or

the

“Commonwealth”),

it

will

be

disproportionally

affected

by

political,

social

and

economic

conditions

and

developments

in

the

Commonwealth.

In

addition,

economic,

political

or

regulatory

changes

in

that

territory

could

adversely

affect

the

value

of

the

Fund’s

investment

portfolio.

Puerto

Rico

currently

is

experiencing

significant

fiscal

and

economic

challenges,

including

substantial

debt

service

obligations,

high

levels

of

unemployment,

underfunded

public

retirement

systems,

and

persistent

government

budget

deficits.

These

challenges

may

negatively

affect

the

value

of

the

Fund’s

investments

in

Puerto

Rican

municipal

securities.

Several

major

ratings

agencies

have

downgraded

the

general

obligation

debt

of

Puerto

Rico

to

below

investment

grade

and

continue

to

maintain

a

negative

outlook

for

this

debt,

which

increases

the

likelihood

that

the

rating

will

be

lowered

further.

Puerto

Rico

recently

defaulted

on

its

debt

by

failing

to

make

full

payment

due

on

its

outstanding

bonds,

and

there

can

be

no

assurance

that

Puerto

Rico

will

be

able

to

satisfy

its

future

debt

obligations.

Further

downgrades

or

defaults

may

place

additional

strain

on

the

Puerto

Rico

economy

and

may

negatively

affect

the

value,

liquidity,

and

volatility

of

the

Fund’s

investments

in

Puerto

Rican

municipal

securities.

Additionally,

numerous

issuers

have

entered

Title

III

of

the

Puerto

Rico

Oversite,

Management

and

Economic

Stability

Act

(“PROMESA”),

which

is

similar

to

bankruptcy

protection,

through

which

the

Commonwealth

of

Puerto

Rico

can

restructure

its

debt.

However,

Puerto

Rico’s

case

is

the

first

ever

heard

under

PROMESA

and

there

is

no

existing

case

precedent

to

guide

the

proceedings.

Accordingly,

Puerto

Rico’s

debt

restructuring

process

could

take

significantly

longer

than

traditional

municipal

bankruptcy

proceedings.

Further,

it

is

not

clear

whether

a

debt

restructuring

process

will

ultimately

be

approved

or,

if

so,

the

extent

to

which

it

will

apply

to

Puerto

Rico

municipal

securities

sold

by

an

issuer

other

than

the

territory.

A

debt

restructuring

could

reduce

the

principal

amount

due,

the

interest

rate,

the

maturity,

and

other

terms

of

Puerto

Rico

municipal

securities,

which

could

adversely

affect

the

value

of

Puerto

Rican

municipal

securities.

Legislation

that

would

allow

Puerto

Rico

to

restructure

its

municipal

debt

obligations,

thus

increasing

the

risk

that

Puerto

Rico

may

never

pay

off

municipal

indebtedness,

or

may

pay

only

a

small

fraction

of

the

amount

owed,

could

also

impact

the

value

of

the

Fund’s

investments

in

Puerto

Rican

municipal

securities.

82

Shareholder

Update

(Unaudited)

(continued)

These

challenges

and

uncertainties

have

been

exacerbated

by

multiple

hurricanes

and

the

resulting

natural

disasters

that

have

stuck

Puerto

Rico

since

2017.

The

full

extent

of

the

natural

disasters’

impact

on

Puerto

Rico’s

economy

and

foreign

investment

in

Puerto

Rico

is

difficult

to

estimate.

Reinvestment

Risk.

Reinvestment

risk

is

the

risk

that

income

from

the

Fund’s

portfolio

will

decline

if

and

when

the

Fund

invests

the

proceeds

from

matured,

traded

or

called

municipal

securities

at

market

interest

rates

that

are

below

the

portfolio’s

current

earnings

rate.

A

decline

in

income

could

affect

the

common

shares’

market

price,

NAV

and/or

a

common

shareholder’s

overall

returns.

Special

Risks

Related

to

Certain

Municipal

Obligations.

Municipal

leases

and

certificates

of

participation

involve

special

risks

not

normally

associated

with

general

obligations

or

revenue

bonds.

Leases

and

installment

purchase

or

conditional

sale

contracts

(which

normally

provide

for

title

to

the

leased

asset

to

pass

eventually

to

the

governmental

issuer)

have

evolved

as

a

means

for

governmental

issuers

to

acquire

property

and

equipment

without

meeting

the

constitutional

and

statutory

requirements

for

the

issuance

of

debt.

The

debt

issuance

limitations

are

deemed

to

be

inapplicable

because

of

the

inclusion

in

many

leases

or

contracts

of

“non-appropriation”

clauses

that

relieve

the

governmental

issuer

of

any

obligation

to

make

future

payments

under

the

lease

or

contract

unless

money

is

appropriated

for

such

purpose

by

the

appropriate

legislative

body.

In

addition,

such

leases

or

contracts

may

be

subject

to

the

temporary

abatement

of

payments

in

the

event

that

the

governmental

issuer

is

prevented

from

maintaining

occupancy

of

the

leased

premises

or

utilizing

the

leased

equipment.

Although

the

obligations

may

be

secured

by

the

leased

equipment

or

facilities,

the

disposition

of

the

property

in

the

event

of

non-appropriation

or

foreclosure

might

prove

difficult,

time

consuming

and

costly,

and

may

result

in

a

delay

in

recovering

or

the

failure

to

fully

recover

the

Fund’s

original

investment.

In

the

event

of

non-appropriation,

the

issuer

would

be

in

default

and

taking

ownership

of

the

assets

may

be

a

remedy

available

to

the

Fund,

although

the

Fund

does

not

anticipate

that

such

a

remedy

would

normally

be

pursued.

Certificates

of

participation

involve

the

same

risks

as

the

underlying

municipal

leases.

In

addition,

the

Fund

may

be

dependent

upon

the

municipal

authority

issuing

the

certificates

of

participation

to

exercise

remedies

with

respect

to

the

underlying

securities.

Certificates

of

participation

also

entail

a

risk

of

default

or

bankruptcy,

both

of

the

issuer

of

the

municipal

lease

and

also

the

municipal

agency

issuing

the

certificate

of

participation.

Swap

Transactions

Risk.

The

Fund

may

enter

into

debt-related

derivative

instruments

such

as

credit

default

swap

contracts

and

interest

rate

swaps.

Like

most

derivative

instruments,

the

use

of

swaps

is

a

highly

specialized

activity

that

involves

investment

techniques

and

risks

different

from

those

associated

with

ordinary

portfolio

securities

transactions.

In

addition,

the

use

of

swaps

requires

an

understanding

by

the

adviser

and/or

the

sub-

adviser

of

not

only

the

referenced

asset,

rate

or

index,

but

also

of

the

swap

itself.

If

the

investment

adviser

and/or

the

sub-adviser

is

incorrect

in

its

forecasts

of

default

risks,

market

spreads

or

other

applicable

factors

or

events,

the

investment

performance

of

the

Fund

would

diminish

compared

with

what

it

would

have

been

if

these

techniques

were

not

used.

Tax

Risk.

The

value

of

the

Fund’s

investments

and

its

NAV

may

be

adversely

affected

by

changes

in

tax

rates,

rules

and

policies.

Because

interest

income

from

municipal

securities

is

normally

not

subject

to

regular

federal

income

taxation,

the

attractiveness

of

municipal

securities

in

relation

to

other

investment

alternatives

is

affected

by

changes

in

federal

income

tax

rates

or

changes

in

the

tax

exempt

status

of

interest

income

from

municipal

securities.

Additionally,

the

Fund

is

not

a

suitable

investment

for

individual

retirement

accounts,

for

other

tax

exempt

or

tax-deferred

accounts,

for

investors

who

are

not

sensitive

to

the

federal

income

tax

consequences

of

their

investments.

Taxability

Risk.

The

Fund

will

invest

in

municipal

securities

in

reliance

at

the

time

of

purchase

on

an

opinion

of

bond

counsel

to

the

issuer

that

the

interest

paid

on

those

securities

will

be

excludable

from

gross

income

for

regular

federal

income

tax

purposes,

and

the

sub-adviser

will

not

independently

verify

that

opinion.

Subsequent

to

the

Fund’s

acquisition

of

such

a

municipal

security,

however,

the

security

may

be

determined

to

pay,

or

to

have

paid,

taxable

income.

As

a

result,

the

treatment

of

dividends

previously

paid

or

to

be

paid

by

the

Fund

as

“exempt-interest

dividends”

could

be

adversely

affected,

subjecting

the

Fund’s

shareholders

to

increased

federal

income

tax

liabilities.

Certain

other

investments

made

by

the

Fund,

including

derivatives

transactions,

may

result

in

the

receipt

of

taxable

income

or

gains

by

the

Fund.

Tobacco

Settlement

Bond

Risk.

The

Fund

may

invest

in

tobacco

settlement

bonds.

Tobacco

settlement

bonds

are

municipal

securities

that

are

backed

solely

by

expected

revenues

to

be

derived

from

lawsuits

involving

tobacco

related

deaths

and

illnesses

which

were

settled

between

certain

states

and

American

tobacco

companies.

Tobacco

settlement

bonds

are

secured

by

an

issuing

state’s

proportionate

share

in

the

Master

Settlement

Agreement,

an

agreement

between

46

states

and

nearly

all

of

the

U.S.

tobacco

manufacturers

(the

“MSA”).

Under

the

terms

of

the

MSA,

the

actual

amount

of

future

settlement

payments

by

tobacco-manufacturers

is

dependent

on

many

factors,

including,

among

other

things,

reduced

cigarette

consumption.

Payments

made

by

tobacco

manufacturers

could

be

negatively

impacted

if

the

decrease

in

tobacco

consumption

is

significantly

greater

than

the

forecasted

decline.

Unrated

Securities

Risk.

The

Fund

may

purchase

securities

that

are

not

rated

by

any

rating

organization.

Unrated

securities

determined

by

the

Fund’s

investment

adviser

to

be

of

comparable

quality

to

rated

investments

which

the

Fund

may

purchase

may

pay

a

higher

dividend

or

interest

rate

than

such

rated

investments

and

be

subject

to

a

greater

risk

of

illiquidity

or

price

changes.

Less

public

information

is

typically

available

about

unrated

investments

or

issuers

than

rated

investments

or

issuers.

Some

unrated

securities

may

not

have

an

active

trading

market

or

may

be

difficult

to

value,

which

means

the

Fund

might

have

difficulty

selling

them

promptly

at

an

acceptable

price.

To

the

extent

that

the

Fund

invests

in

unrated

securities,

the

Fund’s

ability

to

achieve

its

investment

objectives

will

be

more

dependent

on

the

investment

adviser’s

credit

analysis

than

would

be

the

case

when

the

Fund

invests

in

rated

securities.

Valuation

Risk.

The

municipal

securities

in

which

the

Fund

invests

typically

are

valued

by

a

pricing

service

utilizing

a

range

of

market-based

inputs

and

assumptions,

including

readily

available

market

quotations

obtained

from

broker-dealers

making

markets

in

such

instruments,

cash

flows

and

transactions

for

comparable

instruments.

There

is

no

assurance

that

the

Fund

will

be

able

to

sell

a

portfolio

security

at

the

price

established

by

the

pricing

service,

which

could

result

in

a

loss

to

the

Fund.

Pricing

services

generally

price

municipal

securities

assuming

orderly

transactions

of

an

institutional

“round

lot”

size,

but

some

trades

may

occur

in

smaller,

“odd

lot”

sizes,

often

at

lower

prices

than

institutional

round

lot

trades.

Different

pricing

services

may

incorporate

different

assumptions

and

inputs

into

their

valuation

methodologies,

potentially

resulting

in

different

values

for

the

same

securities.

As

a

result,

if

the

Fund

were

to

change

pricing

services,

or

if

the

Fund’s

pricing

service

were

to

change

its

valuation

methodology,

there

could

be

a

material

impact,

either

positive

or

negative,

on

the

Fund’s

NAV.

83

Zero

Coupon

Bonds

Risk.

Because

interest

on

zero

coupon

bonds

is

not

paid

on

a

current

basis,

the

values

of

zero

coupon

bonds

will

be

more

volatile

in

response

to

interest

rate

changes

than

the

values

of

bonds

that

distribute

income

regularly.

Although

zero

coupon

bonds

generate

income

for

accounting

purposes,

they

do

not

produce

cash

flow,

and

thus

the

Fund

could

be

forced

to

liquidate

securities

at

an

inopportune

time

in

order

to

generate

cash

to

distribute

to

shareholders

as

required

by

tax

laws.

Fund

Level

and

Other

Risks:

Anti-Takeover

Provisions.

The

Fund’s

organizational

documents

include

provisions

that

could

limit

the

ability

of

other

entities

or

persons

to

acquire

control

of

the

Fund

or

convert

the

Fund

to

open-end

status,

which

are

commonly

known

as

“Control

Share

Acquisition”

provisions.

Although

the

application

of

the

"Control

Share

Acquisition"

provisions

has

currently

been

suspended,

these

provisions

could

have

the

effect

of

depriving

the

common

shareholders

of

opportunities

to

sell

their

common

shares

at

a

premium

over

the

then-current

market

price

of

the

common

shares.

Counterparty

Risk.

Changes

in

the

credit

quality

of

the

companies

that

serve

as

the

Fund’s

counterparties

with

respect

to

derivatives

or

other

transactions

supported

by

another

party’s

credit

will

affect

the

value

of

those

instruments.

Certain

entities

that

have

served

as

counterparties

in

the

markets

for

these

transactions

have

incurred

or

may

incur

in

the

future

significant

financial

hardships

including

bankruptcy

and

losses

as

a

result

of

exposure

to

sub-prime

mortgages

and

other

lower-quality

credit

investments.

As

a

result,

such

hardships

have

reduced

these

entities’

capital

and

called

into

question

their

continued

ability

to

perform

their

obligations

under

such

transactions.

By

using

such

derivatives

or

other

transactions,

the

Fund

assumes

the

risk

that

its

counterparties

could

experience

similar

financial

hardships.

In

the

event

of

the

insolvency

of

a

counterparty,

the

Fund

may

sustain

losses

or

be

unable

to

liquidate

a

derivatives

position.

Cybersecurity

Risk.

The

Fund

and

its

service

providers

are

susceptible

to

operational

and

information

security

risk

resulting

from

cyber

incidents.

Cyber

incidents

refer

to

both

intentional

attacks

and

unintentional

events

including:

processing

errors,

human

errors,

technical

errors

including

computer

glitches

and

system

malfunctions,

inadequate

or

failed

internal

or

external

processes,

market-wide

technical-related

disruptions,

unauthorized

access

to

digital

systems

(through

“hacking”

or

malicious

software

coding),

computer

viruses,

and

cyber-attacks

which

shut

down,

disable,

slow

or

otherwise

disrupt

operations,

business

processes

or

website

access

or

functionality

(including

denial

of

service

attacks).

Cyber

incidents

could

adversely

impact

the

Fund

and

cause

the

Fund

to

incur

financial

loss

and

expense,

as

well

as

face

exposure

to

regulatory

penalties,

reputational

damage,

and

additional

compliance

costs

associated

with

corrective

measures.

In

addition,

substantial

costs

may

be

incurred

in

order

to

prevent

any

cyber

incidents

in

the

future.

Furthermore,

the

Fund

cannot

control

the

cybersecurity

plans

and

systems

put

in

place

by

its

service

providers

or

any

other

third

parties

whose

operations

may

affect

the

Fund.

Economic

and

Political

Events

Risk.

The

Fund

may

be

more

sensitive

to

adverse

economic,

business

or

political

developments

if

it

invests

a

substantial

portion

of

its

assets

in

the

municipal

securities

of

similar

projects

(such

as

those

relating

to

the

education,

health

care,

housing,

transportation,

or

utilities

industries),

industrial

development

bonds,

or

in

particular

types

of

municipal

securities

(such

as

general

obligation

bonds,

private

activity

bonds

or

moral

obligation

bonds).

Such

developments

may

adversely

affect

a

specific

industry

or

local

political

and

economic

conditions,

and

thus

may

lead

to

declines

in

the

creditworthiness

and

value

of

such

municipal

securities.

Fund

Tax

Risk.

The

Fund

has

elected

to

be

treated

and

intends

to

qualify

each

year

as

a

Regulated

Investment

Company

(“RIC”)

under

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

As

a

RIC,

the

Fund

is

not

expected

to

be

subject

to

U.S.

federal

income

tax

to

the

extent

that

it

distributes

its

investment

company

taxable

income

and

net

capital

gains.

To

qualify

for

the

special

tax

treatment

available

to

a

RIC,

the

Fund

must

comply

with

certain

investment,

distribution,

and

diversification

requirements.

Under

certain

circumstances,

the

Fund

may

be

forced

to

sell

certain

assets

when

it

is

not

advantageous

in

order

to

meet

these

requirements,

which

may

reduce

the

Fund’s

overall

return.

If

the

Fund

fails

to

meet

any

of

these

requirements,

subject

to

the

opportunity

to

cure

such

failures

under

applicable

provisions

of

the

Code,

the

Fund’s

income

would

be

subject

to

a

double

level

of

U.S.

federal

income

tax.

The

Fund’s

income,

including

its

net

capital

gain,

would

first

be

subject

to

U.S.

federal

income

tax

at

regular

corporate

rates,

even

if

such

income

were

distributed

to

shareholders

and,

second,

all

distributions

by

the

Fund

from

earnings

and

profits,

including

distributions

of

net

capital

gain

(if

any),

would

be

taxable

to

shareholders

as

dividends.

Global

Economic

Risk.

National

and

regional

economies

and

financial

markets

are

becoming

increasingly

interconnected,

which

increases

the

possibilities

that

conditions

in

one

country,

region

or

market

might

adversely

impact

issuers

in

a

different

country,

region

or

market.

Changes

in

legal,

political,

regulatory,

tax

and

economic

conditions

may

cause

fluctuations

in

markets

and

investments

prices

around

the

world,

which

could

negatively

impact

the

value

of

the

Fund’s

investments.

Major

economic

or

political

disruptions,

particularly

in

large

economies

like

China’s,

may

have

global

negative

economic

and

market

repercussions.

Additionally,

instability

in

various

countries,

such

as

Afghanistan

and

Syria,

and

natural

and

environmental

disasters

and

the

spread

of

infectious

illnesses

or

other

public

health

emergencies

,

possible

terrorist

attacks

in

the

United

States

and

around

the

world,

continued

tensions

between

North

Korea

and

the

United

States

and

the

international

community

generally,

growing

social

and

political

discord

in

the

United

States,

the

European

debt

crisis,

the

response

of

the

international

community—through

economic

sanctions

and

otherwise—further

downgrade

of

U.S.

government

securities,

the

change

in

the

U.S.

president

and

the

new

administration

and

other

similar

events

may

adversely

affect

the

global

economy

and

the

markets

and

issuers

in

which

the

Fund

invests.

Recent

examples

of

such

events

include

the

outbreak

of

a

novel

coronavirus

known

as

COVID-19

that

was

first

detected

in

China

in

December

2019

and

heightened

concerns

regarding

North

Korea’s

nuclear

weapons

and

long-range

ballistic

missile

programs.

In

addition,

Russia’s

recent

invasion

of

Ukraine

in

February

2022

has

resulted

in

sanctions

imposed

by

several

nations,

such

as

the

United

States,

United

Kingdom,

European

Union

and

Canada.

The

current

sanctions

and

potential

further

sanctions

may

negatively

impact

certain

sectors

of

Russia’s

economy,

but

also

may

negatively

impact

the

value

of

the

Fund’s

investments

that

do

not

have

direct

exposure

to

Russia.

These

events

could

reduce

consumer

demand

or

economic

output,

result

in

market

closure,

travel

restrictions

or

quarantines,

and

generally

have

a

significant

impact

on

the

economy.

These

events

could

also

impair

the

information

technology

and

other

operational

systems

upon

which

the

Fund’s

service

providers,

including

the

Fund’s

sub-adviser,

rely,

and

could

otherwise

disrupt

the

ability

of

employees

of

the

Fund’s

service

providers

to

perform

essential

tasks

on

behalf

of

the

Fund.

The

Fund

does

not

know

and

cannot

predict

how

long

the

securities

markets

may

be

affected

by

these

events

and

the

effects

of

these

and

similar

events

in

the

future

on

the

U.S.

economy

and

securities

markets.

The

Fund

may

be

adversely

affected

by

abrogation

of

international

agreements

and

national

laws

which

have

created

the

market

instruments

in

which

the

Fund

may

invest,

failure

of

the

designated

national

and

international

authorities

84

Shareholder

Update

(Unaudited)

(continued)

to

enforce

compliance

with

the

same

laws

and

agreements,

failure

of

local,

national

and

international

organizations

to

carry

out

the

duties

prescribed

to

them

under

the

relevant

agreements,

revisions

of

these

laws

and

agreements

which

dilute

their

effectiveness

or

conflicting

interpretation

of

provisions

of

the

same

laws

and

agreements.

Governmental

and

quasi-governmental

authorities

and

regulators

throughout

the

world

have

in

the

past

responded

to

major

economic

disruptions

with

a

variety

of

significant

fiscal

and

monetary

policy

changes,

including

but

not

limited

to,

direct

capital

infusions

into

companies,

new

monetary

programs

and

dramatically

lower

interest

rates.

An

unexpected

or

quick

reversal

of

these

policies,

or

the

ineffectiveness

of

these

policies,

could

increase

volatility

in

securities

markets,

which

could

adversely

affect

the

Fund’s

investments.

Investment

and

Market

Risk.

An

investment

in

common

shares

is

subject

to

investment

risk,

including

the

possible

loss

of

the

entire

principal

amount

that

you

invest.

Common

shares

frequently

trade

at

a

discount

to

their

NAV.

An

investment

in

common

shares

represents

an

indirect

investment

in

the

securities

owned

by

the

Fund.

Common

shares

at

any

point

in

time

may

be

worth

less

than

your

original

investment,

even

after

taking

into

account

the

reinvestment

of

Fund

dividends

and

distributions.

Legislation

and

Regulatory

Risk.

At

any

time

after

the

date

of

this

report,

legislation

or

additional

regulations

may

be

enacted

that

could

negatively

affect

the

assets

of

the

Fund,

securities

held

by

the

Fund

or

the

issuers

of

such

securities.

Fund

shareholders

may

incur

increased

costs

resulting

from

such

legislation

or

additional

regulation.

There

can

be

no

assurance

that

future

legislation,

regulation

or

deregulation

will

not

have

a

material

adverse

effect

on

the

Fund

or

will

not

impair

the

ability

of

the

Fund

to

achieve

its

investment

objectives.

Market

Discount

from

Net

Asset

Value.

Shares

of

closed-end

investment

companies

like

the

Fund

frequently

trade

at

prices

lower

than

their

NAV.

This

characteristic

is

a

risk

separate

and

distinct

from

the

risk

that

the

Fund’s

NAV

could

decrease

as

a

result

of

investment

activities.

Whether

investors

will

realize

gains

or

losses

upon

the

sale

of

the

common

shares

will

depend

not

upon

the

Fund’s

NAV

but

entirely

upon

whether

the

market

price

of

the

common

shares

at

the

time

of

sale

is

above

or

below

the

investor’s

purchase

price

for

the

common

shares.

Furthermore,

management

may

have

difficulty

meeting

the

Fund’s

investment

objectives

and

managing

its

portfolio

when

the

underlying

securities

are

redeemed

or

sold

during

periods

of

market

turmoil

and

as

investors’

perceptions

regarding

closed-end

funds

or

their

underlying

investments

change.

Because

the

market

price

of

the

common

shares

will

be

determined

by

factors

such

as

relative

supply

of

and

demand

for

the

common

shares

in

the

market,

general

market

and

economic

circumstances,

and

other

factors

beyond

the

control

of

the

Fund,

the

Fund

cannot

predict

whether

the

common

shares

will

trade

at,

below

or

above

NAV.

The

common

shares

are

designed

primarily

for

long-term

investors,

and

you

should

not

view

the

Fund

as

a

vehicle

for

short-term

trading

purposes.

Recent

Market

Conditions.

Periods

of

unusually

high

financial

market

volatility

and

restrictive

credit

conditions,

at

times

limited

to

a

particular

sector

or

geographic

area,

have

occurred

in

the

past

and

may

be

expected

to

recur

in

the

future.

Some

countries,

including

the

United

States,

have

adopted

or

have

signaled

protectionist

trade

measures,

relaxation

of

the

financial

industry

regulations

that

followed

the

financial

crisis,

and/or

reductions

to

corporate

taxes.

The

scope

of

these

policy

changes

is

still

developing,

but

the

equity

and

debt

markets

may

react

strongly

to

expectations

of

change,

which

could

increase

volatility,

particularly

if

a

resulting

policy

runs

counter

to

the

market’s

expectations.

The

outcome

of

such

changes

cannot

be

foreseen

at

the

present

time.

In

addition,

geopolitical

and

other

risks,

including

environmental

and

public

health

risks,

may

add

to

instability

in

the

world

economy

and

markets

generally.

As

a

result

of

increasingly

interconnected

global

economies

and

financial

markets,

the

value

and

liquidity

of

the

Fund’s

investments

may

be

negatively

affected

by

events

impacting

a

country

or

region,

regardless

of

whether

the

Fund

invests

in

issuers

located

in

or

with

significant

exposure

to

such

country

or

region.

Ukraine

has

experienced

ongoing

military

conflict,

most

recently

in

February

2022

when

Russia

invaded

Ukraine;

this

conflict

may

expand

and

military

attacks

could

occur

elsewhere

in

Europe.

Europe

has

also

been

struggling

with

mass

migration

from

the

Middle

East

and

Africa.

The

ultimate

effects

of

these

events

and

other

socio-political

or

geographical

issues

are

not

known

but

could

profoundly

affect

global

economies

and

markets.

The

ongoing

trade

war

between

China

and

the

United

States,

including

the

imposition

of

tariffs

by

each

country

on

the

other

country’s

products,

has

created

a

tense

political

environment.

These

actions

may

trigger

a

significant

reduction

in

international

trade,

the

oversupply

of

certain

manufactured

goods,

substantial

price

reductions

of

goods

and

possible

failure

of

individual

companies

and/or

large

segments

of

China’s

export

industry,

which

could

have

a

negative

impact

on

the

Fund’s

performance.

U.S.

companies

that

source

material

and

goods

from

China

and

those

that

make

large

amounts

of

sales

in

China

would

be

particularly

vulnerable

to

an

escalation

of

trade

tensions.

Uncertainty

regarding

the

outcome

of

the

trade

tensions

and

the

potential

for

a

trade

war

could

cause

the

U.S.

dollar

to

decline

against

safe

haven

currencies,

such

as

the

Japanese

yen

and

the

euro.

Events

such

as

these

and

their

consequences

are

difficult

to

predict

and

it

is

unclear

whether

further

tariffs

may

be

imposed

or

other

escalating

actions

may

be

taken

in

the

future.

Recently

the

U.S.

Federal

Reserve

(the

“Fed”)

has

sharply

raised

interest

rates

and

has

signaled

an

intention

to

continue

to

do

so

until

current

inflation

levels

re-align

with

the

Fed’s

long-term

inflation

target.

 Changing

interest

rate

environments

impact

the

various

sectors

of

the

economy

in

different

ways.

For

example,

in

March

2023,

the

Federal

Deposit

Insurance

Corporation

("FDIC")

was

appointed

receiver

for

each

of

Silicon

Valley

Bank

and

Signature

Bank,

the

second-

and

third-largest

bank

failures

in

U.S.

history,

which

failures

may

be

attributable,

in

part,

to

rising

interest

rates.

Bank

failures

may

have

a

destabilizing

impact

on

the

broader

banking

industry

or

markets

generally.

The

impact

of

these

developments

in

the

near-

and

long-term

is

unknown

and

could

have

additional

adverse

effects

on

economies,

financial

markets

and

asset

valuations

around

the

world.

85

DIVIDEND

REINVESTMENT

PLAN

Nuveen

Closed-End

Funds

Automatic

Reinvestment

Plan

Your

Nuveen

Closed-End

Fund

allows

you

to

conveniently

reinvest

distributions

in

additional

Fund

shares.

By

choosing

to

reinvest,

you’ll

be

able

to

invest

money

regularly

and

automatically,

and

watch

your

investment

grow

through

the

power

of

compounding.

Just

like

distributions

in

cash,

there

may

be

times

when

income

or

capital

gains

taxes

may

be

payable

on

distributions

that

are

reinvested.

It

is

important

to

note

that

an

automatic

reinvestment

plan

does

not

ensure

a

profit,

nor

does

it

protect

you

against

loss

in

a

declining

market.

Easy

and

convenient

To

make

recordkeeping

easy

and

convenient,

each

month

you’ll

receive

a

statement

showing

your

total

distributions,

the

date

of

investment,

the

shares

acquired

and

the

price

per

share,

and

the

total

number

of

shares

you

own.

How

shares

are

purchased

The

shares

you

acquire

by

reinvesting

will

either

be

purchased

on

the

open

market

or

newly

issued

by

the

Fund.

If

the

shares

are

trading

at

or

above

NAV

at

the

time

of

valuation,

the

Fund

will

issue

new

shares

at

the

greater

of

the

NAV

or

95%

of

the

then-current

market

price.

If

the

shares

are

trading

at

less

than

NAV,

shares

for

your

account

will

be

purchased

on

the

open

market.

If

Computershare

Trust

Company,

N.A.

(the

“Plan

Agent”)

begins

purchasing

Fund

shares

on

the

open

market

while

shares

are

trading

below

NAV,

but

the

Fund’s

shares

subsequently

trade

at

or

above

their

NAV

before

the

Plan

Agent

is

able

to

complete

its

purchases,

the

Plan

Agent

may

cease

open-market

purchases

and

may

invest

the

uninvested

portion

of

the

distribution

in

newly-issued

Fund

shares

at

a

price

equal

to

the

greater

of

the

shares’

NAV

or

95%

of

the

shares’

market

value

on

the

last

business

day

immediately

prior

to

the

purchase

date.

Distributions

received

to

purchase

shares

in

the

open

market

will

normally

be

invested

shortly

after

the

distribution

payment

date.

No

interest

will

be

paid

on

distributions

awaiting

reinvestment.

Because

the

market

price

of

the

shares

may

increase

before

purchases

are

completed,

the

average

purchase

price

per

share

may

exceed

the

market

price

at

the

time

of

valuation,

resulting

in

the

acquisition

of

fewer

shares

than

if

the

distribution

had

been

paid

in

shares

issued

by

the

Fund.

A

pro

rata

portion

of

any

applicable

brokerage

commissions

on

open

market

purchases

will

be

paid

by

Dividend

Reinvestment

Plan

(the

“Plan”)

participants.

These

commissions

usually

will

be

lower

than

those

charged

on

individual

transactions.

Flexible

You

may

change

your

distribution

option

or

withdraw

from

the

Plan

at

any

time,

should

your

needs

or

situation

change.

You

can

reinvest

whether

your

shares

are

registered

in

your

name,

or

in

the

name

of

a

brokerage

firm,

bank,

or

other

nominee.

Ask

your

investment

advisor

if

his

or

her

firm

will

participate

on

your

behalf.

Participants

whose

shares

are

registered

in

the

name

of

one

firm

may

not

be

able

to

transfer

the

shares

to

another

firm

and

continue

to

participate

in

the

Plan.

The

Fund

reserves

the

right

to

amend

or

terminate

the

Plan

at

any

time.

Although

the

Fund

reserves

the

right

to

amend

the

Plan

to

include

a

service

charge

payable

by

the

participants,

there

is

no

direct

service

charge

to

participants

in

the

Plan

at

this

time.

Call

today

to

start

reinvesting

distributions

For

more

information

on

the

Nuveen

Automatic

Reinvestment

Plan

or

to

enroll

in

or

withdraw

from

the

Plan,

speak

with

your

financial

professional

or

call

us

at

(800)

257-8787.

86

Shareholder

Update

(Unaudited)

(continued)

CHANGES

OCCURRING

DURING

THE

FISCAL

YEAR

The

following

information

in

this

annual

report

is

a

summary

of

certain

changes

during

the

most

recent

fiscal

year.

This

information

may

not

reflect

all

of

the

changes

that

have

occurred

since

you

purchased

shares

of

the

Fund.

During

the

most

recent

fiscal

year,

there

have

been

no

changes

to:

(i)

the

Fund’s

investment

objectives

and

principal

investment

policies

that

have

not

been

approved

by

shareholders,

(ii)

the

principal

risks

of

the

Fund,

(iii)

the

portfolio

managers

of

the

Fund;

(iv)

the

Fund’s

charter

or

by-laws

that

would

delay

or

prevent

a

change

of

control

of

the

Fund

that

have

not

been

approved

by

shareholders

except

as

follows:

Principal

Risks

The

following

risk

factor

was

added

as

a

principal

risk

to

the

Funds:

Fund

Tax

Risk.

The

Fund

has

elected

to

be

treated

and

intends

to

qualify

each

year

as

a

Regulated

Investment

Company

(“RIC”)

under

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

As

a

RIC,

the

Fund

is

not

expected

to

be

subject

to

U.S.

federal

income

tax

to

the

extent

that

it

distributes

its

investment

company

taxable

income

and

net

capital

gains.

To

qualify

for

the

special

tax

treatment

available

to

a

RIC,

the

Fund

must

comply

with

certain

investment,

distribution,

and

diversification

requirements.

Under

certain

circumstances,

the

Fund

may

be

forced

to

sell

certain

assets

when

it

is

not

advantageous

in

order

to

meet

these

requirements,

which

may

reduce

the

Fund’s

overall

return.

If

the

Fund

fails

to

meet

any

of

these

requirements,

subject

to

the

opportunity

to

cure

such

failures

under

applicable

provisions

of

the

Code,

the

Fund’s

income

would

be

subject

to

a

double

level

of

U.S.

federal

income

tax.

The

Fund’s

income,

including

its

net

capital

gain,

would

first

be

subject

to

U.S.

federal

income

tax

at

regular

corporate

rates,

even

if

such

income

were

distributed

to

shareholders

and,

second,

all

distributions

by

the

Fund

from

earnings

and

profits,

including

distributions

of

net

capital

gain

(if

any),

would

be

taxable

to

shareholders

as

dividends.

The

following

principal

risks

were

consolidated

into

a

single

risk

factor

entitled,

“Economic

Sector

Risk,”

and

are

therefore

no

longer

included

as

stand-alone

principal

risks:

Sector

and

Industry

Risk.

Subject

to

the

concentration

limits

of

the

Fund’s

investment

policies

and

guidelines,

a

Fund

may

invest

a

significant

portion

of

its

net

assets

in

certain

sectors

of

the

municipal

securities

market,

such

as

hospitals

and

other

health

care

facilities,

charter

schools

and

other

private

educational

facilities,

special

taxing

districts

and

start-up

utility

districts,

and

private

activity

bonds

including

industrial

development

bonds

on

behalf

of

transportation

companies

such

as

airline

companies,

whose

credit

quality

and

performance

may

be

more

susceptible

to

economic,

business,

political,

regulatory

and

other

developments

than

other

sectors

of

municipal

issuers.

If

the

Fund

invests

a

significant

portion

of

its

net

assets

in

the

sectors

noted

above,

the

Fund’s

performance

may

be

subject

to

additional

risk

and

variability.

Sector

Focus

Risk.

At

times,

the

Fund

may

focus

its

investments

(i.e.,

overweight

its

investments

relative

to

the

overall

municipal

securities

market)

in

one

or

more

particular

sectors,

which

may

subject

the

Fund

to

additional

risk

and

variability.

Securities

issued

in

the

same

sector

may

be

similarly

affected

by

economic

or

market

events,

making

the

Fund

more

vulnerable

to

unfavorable

developments

in

that

sector

than

funds

that

invest

more

broadly.

As

the

percentage

of

the

Fund’s

Managed

Assets

invested

in

a

particular

sector

increases,

so

does

the

potential

for

fluctuation

in

the

NAV

of

the

Fund’s

common

shares.

Developments

Regarding

the

F

unds’

Control

Share

By-Law

On

October

5,

2020,

the

Funds

and

certain

other

closed-end

funds

in

the

Nuveen

fund

complex

amended

their

by-laws.

Among

other

things,

the

amended

by-laws

included

provisions

pursuant

to

which,

in

summary,

a

shareholder

who

obtains

beneficial

ownership

of

common

shares

in

a

Control

Share

Acquisition

(as

defined

in

the

by-laws)

shall

have

the

same

voting

rights

as

other

common

shareholders

only

to

the

extent

authorized

by

the

other

disinterested

shareholders

(the

“Control

Share

By-Law”).

On

January

14,

2021,

a

shareholder

of

certain

Nuveen

closed-end

funds

filed

a

civil

complaint

in

the

U.S.

District

Court

for

the

Southern

District

of

New

York

(the

“District

Court”)

against

certain

Nuveen

funds

and

their

trustees,

seeking

a

declaration

that

such

funds’

Control

Share

By-Laws

violate

the

1940

Act,

rescission

of

such

fund’s

Control

Share

By-Laws

and

a

permanent

injunction

against

such

funds

applying

the

Control

Share

By-Laws.

On

February

18,

2022,

the

District

Court

granted

judgment

in

favor

of

the

plaintiff’s

claim

for

rescission

of

such

funds’

Control

Share

By-Laws

and

the

plaintiff’s

declaratory

judgment

claim,

and

declared

that

such

funds’

Control

Share

By-Laws

violate

Section

18(i)

of

the

1940

Act.

Following

review

of

the

judgment

of

the

District

Court,

on

February

22,

2022,

the

Board

amended

the

Funds’

bylaws

to

provide

that

the

Funds’

Control

Share

By-Law

shall

be

of

no

force

and

effect

for

so

long

as

the

judgment

of

the

District

Court

is

effective

and

that

if

the

judgment

of

the

District

Court

is

reversed,

overturned,

vacated,

stayed,

or

otherwise

nullified,

the

Funds’

Control

Share

By-Law

will

be

automatically

reinstated

and

apply

to

any

beneficial

owner

of

common

shares

acquired

in

a

Control

Share

Acquisition,

regardless

of

whether

such

Control

Share

Acquisition

occurs

before

or

after

such

reinstatement,

for

the

duration

of

the

stay

or

upon

issuance

of

the

mandate

reversing,

overturning,

vacating

or

otherwise

nullifying

the

judgment

of

the

District

Court.

On

February

25,

2022,

the

Board

and

the

Funds

appealed

the

District

Court’s

decision

to

the

U.S.

Court

of

Appeals

for

the

Second

Circuit.

87

Important

Tax

Information

(Unaudited)

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-Term

Capital

Gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

amount

allowable,

as

being

from

net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code:

Fund

Net

Long-Term

Capital

Gains

NIM

$

—

NXP

—

88

Additional

Fund

Information

(Unaudited)

Portfolio

of

Investments

Information

The

Fund

is

required

to

file

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(SEC)

for

the

first

and

third

quarters

of

each

fiscal

year

as

an

exhibit

to

its

report

on

Form

N-PORT.

You

may

obtain

this

information

on

the

SEC’s

website

at

http://www.sec.gov.

Nuveen

Funds’

Proxy

Voting

Information

You

may

obtain

(i)

information

regarding

how

each

fund

voted

proxies

relating

to

portfolio

securities

held

during

the

most

recent

twelve-month

period

ended

June

30,

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800)

257-8787

or

on

Nuveen’s

website

at

www.nuveen.com

and

(ii)

a

description

of

the

policies

and

procedures

that

each

fund

used

to

determine

how

to

vote

proxies

relating

to

portfolio

securities

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800)

257-8787.

You

may

also

obtain

this

information

directly

from

the

SEC.

Visit

the

SEC

on-line

at

http://www.sec.gov.

CEO

Certification

Disclosure

The

Fund’s

Chief

Executive

Officer

(CEO)

has

submitted

to

the

New

York

Stock

Exchange

(NYSE)

the

annual

CEO

certification

as

required

by

Section

303A.12(a)

of

the

NYSE

Listed

Company

Manual.

Each

Fund

has

filed

with

the

SEC

the

certification

of

its

CEO

and

Chief

Financial

Officer

required

by

Section

302

of

the

Sarbanes-Oxley

Act.

Common

Share

Repurchases

Each

Fund

intends

to

repurchase,

through

its

open-market

share

repurchase

program,

shares

of

its

own

common

stock

at

such

times

and

in

such

amounts

as

is

deemed

advisable.

During

the

period

covered

by

this

report,

each

Fund

repurchased

shares

of

its

common

stock

as

shown

in

the

accompanying

table.

Any

future

repurchases

will

be

reported

to

shareholders

in

the

next

annual

or

semi-annual

report.

FINRA

BrokerCheck

:

The

Financial

Industry

Regulatory

Authority

(FINRA)

provides

information

regarding

the

disciplinary

history

of

FINRA

member

firms

and

associated

investment

professionals.

This

information

as

well

as

an

investor

brochure

describing

FINRA

BrokerCheck

is

available

to

the

public

by

calling

the

FINRA

BrokerCheck

Hotline

number

at

(800)

289-9999

or

by

visiting

www.FINRA.org.

Board

of

Trustees

Jack

B.

Evans

William

C.

Hunter

Amy

B.R.

Lancellotta

Joanne

T.

Medero

Albin

F.

Moschner

John

K.

Nelson

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

Computershare

Trust

Company,

N.A.

150

Royall

Street

Canton,

MA

02021

(800)

257-8787

NIM

NXP

Common

shares

repurchased

0

0

Glossary

of

Terms

Used

in

this

Report

(Unaudited)

89

Average

Annual

Total

Return

:

This

is

a

commonly

used

method

to

express

an

investment’s

performance

over

a

particular,

usually

multi-year

time

period.

It

expresses

the

return

that

would

have

been

necessary

each

year

to

equal

the

investment’s

actual

cumulative

performance

(including

change

in

NAV

or

offer

price

and

reinvested

dividends

and

capital

gains

distributions,

if

any)

over

the

time

period

being

considered.

Gross

Domestic

Product

(GDP):

The

total

market

value

of

all

final

goods

and

services

produced

in

a

country/region

in

a

given

year,

equal

to

total

consumer,

investment

and

government

spending,

plus

the

value

of

exports,

minus

the

value

of

imports.

Net

Asset

Value

(NAV)

Per

Share:

A

fund’s

Net

Assets

is

equal

to

its

total

assets

(securities,

cash,

accrued

earnings

and

receivables)

less

its

total

liabilities.

NAV

per

share

is

equal

to

the

fund’s

Net

Assets

divided

by

its

number

of

shares

outstanding.

Pre-Refunded

Bond/Pre-Refunding

:

Pre-Refunded

Bond/Pre-Refunding,

also

known

as

advanced

refundings

or

refinancings,

is

a

procedure

used

by

state

and

local

governments

to

refinance

municipal

bonds

to

lower

interest

expenses.

The

issuer

sells

new

bonds

with

a

lower

yield

and

uses

the

proceeds

to

buy

U.S.

Treasury

securities,

the

interest

from

which

is

used

to

make

payments

on

the

higher-yielding

bonds.

Because

of

this

collateral,

pre-refunding

generally

raises

a

bond’s

credit

rating

and

thus

its

value.

Tax

Obligation/General

Bonds:

Bonds

backed

by

the

general

revenues

of

an

issuer,

including

taxes,

where

the

issuer

has

the

ability

to

increase

taxes

by

an

unlimited

amount

to

pay

the

bonds

back.

Tax

Obligation/Limited

Bonds:

Bonds

backed

by

the

general

revenues

of

an

issuer,

including

taxes,

where

the

issuer

doesn’t

have

the

ability

to

increase

taxes

by

an

unlimited

amount

to

pay

the

bonds

back

.

90

Board

Members

&

Officers

(Unaudited)

The

management

of

the

Funds,

including

general

supervision

of

the

duties

performed

for

the

Funds

by

the

Adviser,

is

the

responsibility

of

the

Board

of

Trustees

of

the

Funds.

None

of

the

trustees

who

are

not

“interested”

persons

of

the

Funds

(referred

to

herein

as

“independent

board

members”)

has

ever

been

a

director

or

employee

of,

or

consultant

to,

Nuveen

or

its

affiliates.

The

names

and

business

addresses

of

the

trustees

and

officers

of

the

Funds,

their

principal

occupations

and

other

affiliations

during

the

past

five

years,

the

number

of

portfolios

each

Trustee

oversees

and

other

directorships

they

hold

are

set

forth

below.

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

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

of

the

Board

of

the

Kehrein

Center

for

the

Arts

(philanthropy)

(since

2021);

member:

Catalyst

Schools

of

Chicago

Board

(since

2008)

and

Mather

Foundation

Board

(philanthropy)

(since

2012),

formerly,

Chair

of

its

Investment

Committee

(2017-2022);

formerly,

Member,

Chicago

Fellowship

Board

(philanthropy)

(2005-2016);

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).

139

Jack

B.

Evans

1948

333

W.

Wacker

Drive

Chicago,

IL

60606

Board

Member

1999

Class

III

Chairman

(since

2019),

formerly,

President

(1996-2019),

The

Hall-Perrine

Foundation,

(private

philanthropic

corporation);

Life

Trustee

of

Coe

College

and

the

Iowa

College

Foundation;

formerly,

Member

and

President

Pro-Tem

of

the

Board

of

Regents

for

the

State

of

Iowa

University

System

(2007-

2013);

Director

and

Chairman

(2009-2021),

United

Fire

Group,

a

publicly

held

company;

Director,

Public

Member,

American

Board

of

Orthopaedic

Surgery

(2015-2020);

Director

(2000-2004),

Alliant

Energy;

Director

(1996-2015),

The

Gazette

Company

(media

and

publishing);

Director

(1997-

2003),

Federal

Reserve

Bank

of

Chicago;

President

and

Chief

Operating

Officer

(1972-1995),

SCI

Financial

Group,

Inc.,

(regional

financial

services

firm).

139

William

C.

Hunter

1948

333

W.

Wacker

Drive

Chicago,

IL

60606

Board

Member

2003

Class

I

Dean

Emeritus,

formerly,

Dean,

Tippie

College

of

Business,

University

of

Iowa

(2006-2012);

Director

of

Wellmark,

Inc.

(since

2009);

past

Director

(2005-2015),

and

past

President

(2010-

2014)

Beta

Gamma

Sigma,

Inc.,

The

International

Business

Honor

Society;

formerly,

Director

(2004-2018)

of

Xerox

Corporation;

formerly,

Dean

and

Distinguished

Professor

of

Finance,

School

of

Business

at

the

University

of

Connecticut

(2003-2006);

previously,

Senior

Vice

President

and

Director

of

Research

at

the

Federal

Reserve

Bank

of

Chicago

(1995-2003);

formerly,

Director

(1997-2007),

Credit

Research

Center

at

Georgetown

University.

139

91

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

Amy

B.

R.

Lancellotta

1959

333

W.

Wacker

Drive

Chicago,

IL

60606

Board

Member

2021

Class

II

Formerly,

Managing

Director,

Independent

Directors

Council

(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);

Member

of

the

Board

of

Directors,

Jewish

Coalition

Against

Domestic

Abuse

(JCADA)

(since

2020).

139

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).

139

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).

139

John

K.

Nelson

1962

333

W.

Wacker

Drive

Chicago,

IL

60606

Board

Member

2013

Class

II

Member

of

Board

of

Directors

of

Core12

LLC.

(private

firm

which

develops

branding,

marketing

and

communications

strategies

for

clients)

(since

2008);

served

The

President’s

Council

of

Fordham

University

(2010-2019)

and

previously

a

Director

of

the

Curran

Center

for

Catholic

American

Studies

(2009-2018);

formerly,

senior

external

advisor

to

the

Financial

Services

practice

of

Deloitte

Consulting

LLP.

(2012-2014);

former

Chair

of

the

Board

of

Trustees

of

Marian

University

(2010-2014

as

trustee,

2011-2014

as

Chair);

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.

139

92

Board

Members

&

Officers

(Unaudited)

(continued)

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

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).

139

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

(since

2004)

formerly,

Chair

(2015-

2022)

of

the

Board

of

Trustees

of

The

John

A.

Hartford

Foundation

(a

philanthropy

dedicated

to

improving

the

care

of

older

adults);

formerly,

Member

(2005-2015)

and

Vice

Chair

(2011-2015)

of

the

Board

of

Trustees

of

Mt.

Holyoke

College.

139

Robert

L.

Young

1963

333

W.

Wacker

Drive

Chicago,

IL

60606

Board

Member

2017

Class

II

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).

139

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

(since

2019);

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2020-2021)

of

Nuveen

Securities,

LLC;

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2017-2021),

Senior

Vice

President

of

Nuveen

(2006-2017).

Brett

E.

Black

1972

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Chief

Compliance

Officer

2022

Managing

Director

of

Nuveen

(since

2022);

formerly,

Vice

President

(2014-2022),

Chief

Compliance

Officer

(2017-2022);

Deputy

Chief

Compliance

Officer

(2014-

2017)

of

BMO

Funds,

Inc.

Mark

J.

Czarniecki

1979

901

Marquette

Avenue

Minneapolis,

MN

55402

Vice

President

and

Assistant

Secretary

2013

Managing

Director

(since

2022),

formerly,

Vice

President

(2016-2022),

and

Assistant

Secretary

(since

2016)

of

Nuveen

Securities,

LLC;

Managing

Director

(since

2022),

formerly,

Vice

President

(2017-2022)

and

Assistant

Secretary

(since

2017)

of

Nuveen

Fund

Advisors,

LLC;

Managing

Director

and

Associate

General

Counsel

(since

January

2022),

formerly,

Vice

President

and

Associate

General

Counsel

of

Nuveen

(2013-2021);

Managing

Director

(since

2022),

formerly,

Vice

President

(2018-2022),

Assistant

Secretary

and

Associate

General

Counsel

(since

2018)

of

Nuveen

Asset

Management,

LLC.

93

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

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

(since

2017);

Vice

President

and

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2022);

Vice

President

and

Associate

General

Counsel

of

Nuveen

(since

2017);

formerly,

Associate

General

Counsel

of

Jackson

National

Asset

Management

(2012-2017).

Nathaniel

T.

Jones

1979

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Treasurer

2016

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2017-2021),

Senior

Vice

President

(2016-2017)

of

Nuveen;

Managing

Director

(since

2015)

of

Nuveen

Fund

Advisors,

LLC;

Chartered

Financial

Analyst.

Tina

M.

Lazar

1961

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2002

Managing

Director

(since

2017),

formerly,

Senior

Vice

President

(2014-2017)

of

Nuveen

Securities,

LLC.

Brian

J.

Lockhart

1974

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2019

Managing

Director

(since

2019)

of

Nuveen

Fund

Advisors,

LLC;

Senior

Managing

Director

(since

2021),

formerly,

Managing

Director

(2017-2021),

Vice

President

(2010-2017)

of

Nuveen;

Head

of

Investment

Oversight

(since

2017),

formerly,

Team

Leader

of

Manager

Oversight

(2015-2017);

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

(since

2021),

General

Counsel

and

Secretary

(since

2023),

formerly,

Assistant

Secretary

(2021-2023),

of

Nuveen

Fund

Advisors,

LLC;

Managing

Director,

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2021);

Managing

Director

(since

2021)

and

Assistant

Secretary

(since

2016)

of

TIAA

SMA

Strategies

LLC;

Managing

Director

(since

2019,

formerly,

Vice

President

and

Director),

Associate

General

Counsel

and

Assistant

Secretary

of

College

Retirement

Equities

Fund,

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds;

Managing

Director

(since

2018),

formerly,

Vice

President

and

Director,

Associate

General

Counsel

and

Assistant

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America,

Teacher

Advisors

LLC

and

TIAA-CREF

Investment

Management,

LLC;

Vice

President

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2011)

of

Nuveen

Alternative

Advisors

LLC;

General

Counsel

and

Assistant

Secretary

of

Covariance

Capital

Management,

Inc.

(2014-2017).

Kevin

J.

McCarthy

1966

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

and

Assistant

Secretary

2007

Senior

Managing

Director

(since

2017)

and

Secretary

and

General

Counsel

(since

2016)

of

Nuveen

Investments,

Inc.,

formerly,

Executive

Vice

President

(2016-

2017);

Executive

Vice

President

(since

2023)

and

Assistant

Secretary

(since

2008)

of

Nuveen

Securities,

LLC,

formerly

Senior

Managing

Director

(2017-2023);

Executive

Vice

President

and

Assistant

Secretary

(since

2023)

of

Nuveen

Fund

Advisors,

LLC,

formerly,

Senior

Managing

Director

(2017-2023),

Secretary

(2016-

2023)

and

Co-General

Counsel

(2011-2020);

Executive

Vice

President

(since

2023)

and

Secretary

(since

2016)

of

Nuveen

Asset

Management,

LLC,

formerly,

Senior

Managing

Director

(2017-2023)

and

Associate

General

Counsel

(2011-

2020);

formerly,

Vice

President

(2007-2021)

and

Secretary

(2016-2021),

of

NWQ

Investment

Management

Company,

LLC

and

Santa

Barbara

Asset

Management,

LLC;

Vice

President

and

Secretary

of

Winslow

Capital

Management,

LLC

(since

2010);

Senior

Managing

Director

(since

2017)

and

Secretary

(since

2016)

of

Nuveen

Alternative

Investments,

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

(since

2022),

formerly,

Managing

Director

of

Mutual

Fund

Tax

and

Financial

Reporting

groups

(2017-2022),

at

Nuveen;

Managing

Director

of

Nuveen

Fund

Advisors,

LLC

(since

2019);

Managing

Director

(since

2021),

formerly,

Senior

Director

(2016-2021),

of

Teachers

Advisors,

LLC

and

TIAA-CREF

Investment

Management,

LLC;

Managing

Director,

Mutual

Fund

Tax

and

Expense

Administration

(since

2022),

formerly,

Senior

Director

Mutual

Fund

Taxation

(2015-2022),

to

the

TIAA-CREF

Funds,

the

TIAA-CREF

Life

Funds,

the

TIAA

Separate

Account

VA-1

and

the

CREF

Accounts;

has

held

various

positions

with

TIAA

since

2004.

William

A.

Siffermann

1975

333

W.

Wacker

Drive

Chicago,

IL

60606

Vice

President

2017

Managing

Director

(since

2017),

formerly

Senior

Vice

President

(2016-2017)

of

Nuveen.

94

Board

Members

&

Officers

(Unaudited)

(continued)

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

Trey

S.

Stenersen

1965

8500

Andrew

Carnegie

Blvd.                                                                    

Charlotte,

NC

28262

Vice

President

2022

Senior

Managing

Director

of

Teacher

Advisors

LLC

and

TIAA-CREF

Investment

Management,

LLC

(since

2018);

Senior

Managing

Director

(since

2019)

and

Chief

Risk

Officer

(since

2022),

formerly

Head

of

Investment

Risk

Management

(2017-

2022)

of

Nuveen;

Senior

Managing

Director

(since

2018)

of

Nuveen

Alternative

Advisors

LLC.

E.

Scott

Wickerham

1973

8500

Andrew

Carnegie

Blvd.                                                                    

Charlotte,

NC

28262

Vice

President

and

Controller

2019

Senior

Managing

Director,

Head

of

Public

Investment

Finance

at

Nuveen

(since

2019),

formerly,

Managing

Director;

Senior

Managing

Director

(since

2019)

of

Nuveen

Fund

Advisors,

LLC;

Senior

Managing

Director

(since

2022)

of

Nuveen

Asset

Management,

LLC;

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

(since

2017)

of

the

TIAA-CREF

Funds,

the

TIAA-CREF

Life

Funds,

the

TIAA

Separate

Account

VA-1

and

Principal

Financial

Officer,

Principal

Accounting

Officer

(since

2020)

and

Treasurer

(since

2017)

of

the

CREF

Accounts;

has

held

various

positions

with

TIAA

since

2006.

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

(since

2008),

and

Nuveen

Fund

Advisors,

LLC

(since

2019);

Vice

President,

Associate

General

Counsel

and

Assistant

Secretary

of

Nuveen

Asset

Management,

LLC

(since

2020);

Vice

President

(since

2010)

and

Associate

General

Counsel

(since

2019)

of

Nuveen.

Rachael

Zufall

1973

8500

Andrew

Carnegie

Blvd.                                                                    

Charlotte,

NC

28262

Vice

President

and

Assistant

Secretary

2022

Managing

Director

and

Assistant

Secretary

(since

2023)

of

Nuveen

Fund

Advisors,

LLC;

Managing

Director

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2014)

of

the

CREF

Accounts,

TIAA

Separate

Account

VA-1,

TIAA-

CREF

Funds

and

TIAA-CREF

Life

Funds;

Managing

Director

(since

2017),

Associate

General

Counsel

and

Assistant

Secretary

(since

2011)

of

Teacher

Advisors,

LLC

and

TIAA-CREF

Investment

Management,

LLC;

Managing

Director

of

Nuveen,

LLC

and

of

TIAA

(since

2017).

(1)

The

Board

of

Trustees

is

divided

into

three

classes,

Class

I,

Class

II,

and

Class

III,

with

each

being

elected

to

serve

until

the

third

succeeding

annual

shareholders’

meeting

subsequent

to

its

election

or

thereafter

in

each

case

when

its

respective

successors

are

duly

elected

or

appointed,

except

two

board

members

are

elected

by

the

holders

of

Preferred

Shares,

when

applicable,

to

serve

until

the

next

annual

shareholders’

meeting

subsequent

to

its

election

or

thereafter

in

each

case

when

its

respective

successors

are

duly

elected

or

appointed.

The

year

first

elected

or

appointed

represents

the

year

in

which

the

board

member

was

first

elected

or

appointed

to

any

fund

in

the

Nuveen

complex.

(2)

Officers

serve

indefinite

terms

until

their

successor

has

been

duly

elected

and

qualified,

their

death

or

their

resignation

or

removal.  The

year

first

elected

or

appointed

represents

the

year

in

which

the

Officer

was

first

elected

or

appointed

to

any

fund

in

the

Nuveen

Complex.

Nuveen

Securities,

LLC,

member

FINRA

and

SIPC

333

West

Wacker

Drive

Chicago,

IL

60606

www.nuveen.com

EAN-A-0323P

2849681-INV-Y-05/24

Nuveen:

Serving

Investors

for

Generations

Since

1898,

financial

advisors

and

their

clients

have

relied

on

Nuveen

to

provide

dependable

investment

solutions

through

continued

adherence

to

proven,

long-term

investing

principles.

Today,

we

offer

a

range

of

high

quality

solutions

designed

to

be

integral

components

of

a

well-diversified

core

portfolio.

Focused

on

meeting

investor

needs.

Nuveen

is

the

investment

manager

of

TIAA.

We

have

grown

into

one

of

the

world’s

premier

global

asset

managers,

with

specialist

knowledge

across

all

major

asset

classes

and

particular

strength

in

solutions

that

provide

income

for

investors

and

that

draw

on

our

expertise

in

alternatives

and

responsible

investing.

Nuveen

is

driven

not

only

by

the

independent

investment

processes

across

the

firm,

but

also

the

insights,

risk

management,

analytics

and

other

tools

and

resources

that

a

truly

world-class

platform

provides.

As

a

global

asset

manager,

our

mission

is

to

work

in

partnership

with

our

clients

to

create

solutions

which

help

them

secure

their

financial

future.

Find

out

how

we

can

help

you.

To

learn

more

about

how

the

products

and

services

of

Nuveen

may

be

able

to

help

you

meet

your

financial

goals,

talk

to

your

financial

advisor,

or

call

us

at

(800)

257-8787.

Please

read

the

information

provided

carefully

before

you

invest.

Investors

should

consider

the

investment

objective

and

policies,

risk

considerations,

charges

and

expenses

of

any

investment

carefully.

Where

applicable,

be

sure

to

obtain

a

prospectus,

which

contains

this

and

other

relevant

information.

To

obtain

a

prospectus,

please

contact

your

securities

representative

or

Nuveen,

333

W.

Wacker

Dr.,

Chicago,

IL

60606.

Please

read

the

prospectus

carefully

before

you

invest

or

send

money.

Learn

more

about

Nuveen

Funds

at:

www.nuveen.com/closed-end-funds

NOT

FDIC

INSURED

MAY

LOSE

VALUE

NO

BANK

GUARANTEE

ITEM 2. CODE OF ETHICS.

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

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

As of the end of the period covered by this report, the registrant’s Board of Directors or Trustees (“Board”) determined that the registrant has at least one “audit committee financial expert” (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant’s audit committee financial experts are Jack B. Evans, Albin F. Moschner, John K. Nelson and Robert L. Young, who are “independent” for purposes of Item 3 of Form N-CSR.

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

Mr. 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 is on the Board of Directors of Core12, LLC. (since 2008), 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. 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 her absence, any other member of the Audit Committee).

SERVICES THAT THE FUND’S AUDITOR BILLED TO THE FUND

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, 2023	$	28,000		$	0		$	0		$	0
Percentage approved pursuant to pre-approval exception		0	%		0	%		0	%		0	%
March 31, 2022	$	36,740		$	910		$	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	Audit-Related Fees Billed to Adviser and Affiliated  Fund Service Providers			Tax Fees Billed to Adviser and Affiliated Fund Service Providers			All Other Fees Billed to Adviser and Affiliated Fund Service Providers
March 31, 2023	$	0		$	0		$	0
Percentage approved pursuant to pre-approval exception		0	%		0	%		0	%
March 31, 2022	$	0		$	0		$	0
Percentage approved pursuant to pre-approval exception		0	%		0	%		0	%

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 her verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

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)). As of the end of the period covered by this report the members of the audit committee are Jack B. Evans, Albin F. Moschner, John K. Nelson, Chair, 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.

Nuveen Fund Advisors, LLC is the registrant’s investment adviser (referred to herein as the “Adviser”). The Adviser is responsible for the 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 (“Sub-Adviser”) as Sub-Adviser to provide discretionary investment advisory services. As part of these services, the Adviser has delegated to the Sub-Adviser the full responsibility for proxy voting on securities held in the registrant’s portfolio and related duties in accordance with the Sub-Adviser’s policies and procedures. The Adviser periodically monitors the Sub-Adviser’s voting to ensure that it is carrying out its duties. The Sub-Adviser’s proxy voting policies and procedures are attached to this filing as an exhibit and incorporated herein by reference.

ITEM 8. PORTFOLIO MANAGER 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 manager at the Sub-Adviser:

ITEM 8(a)(1). PORTFOLIO MANAGER BIOGRAPHY

As of the date of filing this report, the following individual at the Sub-Adviser (the “Portfolio Manager”) has 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.

ITEM 8(a)(2). OTHER ACCOUNTS MANAGED BY PORTFOLIO MANAGER

Other Accounts Managed. In addition to managing the registrant, the Portfolio Manager is 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		8	$1.83 billion
	Other Pooled Investment Vehicles		0	$0
	Other Accounts		1	$25.4 million

* Assets are as of March 31, 2023. 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 the 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 Manager’s 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, 2023

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

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 posted on registrant’s website at www.nuveen.com/fund-governance and there were no amendments during the period covered by this report. (To view the code, click on Code of Conduct.)

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

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

SIGNATURES

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

(Registrant) Nuveen Select Tax-Free Income Portfolio

By (Signature and Title)	/s/ Mark L. Winget
	Mark L. Winget
	Vice President and Secretary

Date: June 2, 2023

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 2, 2023

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

Date: June 2, 2023