Nuveen AMT-Free Quality Municipal Income Fund
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
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| Investment Company Act file number |
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811-21213 |
Nuveen AMT-Free Quality Municipal Income Fund
(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)
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| Registrant’s telephone number, including area code: |
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(312) 917-7700 |
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| Date of fiscal year end: |
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October 31 |
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| Date of reporting period: |
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April 30, 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. |
This
semi-annual
report
contains
the
Funds'
unaudited financial
statements.
Nuveen
Quality
Municipal
Income
Fund
NAD
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
NEA
Chair’s
Letter
to
Shareholders
3
Important
Notices
4
Fund
Leverage
5
Common
Share
Information
6
About
the
Funds’
Benchmarks
8
Performance
Overview
and
Holding
Summaries
11
Portfolios
of
Investments
13
Statement
of
Assets
and
Liabilities
123
Statement
of
Operations
124
Statement
of
Changes
in
Net
Assets
125
Statement
of
Cash
Flows
126
Financial
Highlights
128
Notes
to
Financial
Statements
131
Risk
Considerations
144
Additional
Fund
Information
145
Glossary
of
Terms
Used
in
this
Report
146
Chair’s
Letter
to
Shareholders
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
1.3%
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
activity
based
upon
these
factors
on
a
meeting-by-meeting
basis,
including
pausing
rate
adjustments
at
the
most
recent
meeting
in
June
2023
in
order
to
assess
the
effects
of
monetary
policy
so
far
on
the
economy.
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.
The
debt
ceiling
debate
in
Congress
was
also
looming
over
the
markets
until
the
government
passed
an
increase
to
the
debt
limit
in
early
June
2023
and
averted
a
default
scenario.
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
June
21,
2023
For
Shareholders
of
Nuveen
Quality
Municipal
Income
Fund
(NAD)
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(NEA)
Portfolio
Manager
Commentaries
in
Semi-annual
Shareholder
Reports
The
Funds
include
portfolio
manager
commentary
in
their
annual
shareholder
reports.
For
the
Funds’
most
recent
annual
portfolio
manager
discussion,
please
refer
to
the
Portfolio
Managers’
Comments
section
of
each
Fund’s
October
31,
2022
annual
shareholder
report.
For
current
information
on
your
Fund’s
investment
objectives,
portfolio
management
team
and
average
annual
total
returns
please
refer
to
the
Fund’s
website
at
www.nuveen.com.
For
changes
that
occurred
to
your
Fund
both
during
and
subsequent
to
this
reporting
period,
please
refer
to
the
Notes
to
Financial
Statements
section
of
this
report.
For
average
annual
total
returns
as
of
the
end
of
this
reporting
period,
please
refer
to
the
Performance
Overview
and
Holding
Summaries
section
within
this
report.
IMPACT
OF
THE
FUNDS’
LEVERAGE
STRATEGY
ON
PERFORMANCE
One
important
factor
impacting
the
returns
of
the
Funds’
common
shares
relative
to
their
comparative
benchmarks
was
the
Funds’
use
of
leverage
through
their
issuance
of
preferred
shares
and/or
investments
in
inverse
floating
rate
securities,
which
represent
leveraged
investments
in
underlying
bonds.
The
Funds
use
leverage
because
our
research
has
shown
that,
over
time,
leveraging
provides
opportunities
for
additional
income.
The
opportunity
arises
when
short-term
rates
that
a
Fund
pays
on
its
leveraging
instruments
are
lower
than
the
interest
the
Fund
earns
on
its
portfolio
of
long-term
bonds
that
it
has
bought
with
the
proceeds
of
that
leverage.
However,
use
of
leverage
can
expose
Fund
common
shares
to
additional
price
volatility.
When
a
Fund
uses
leverage,
the
Fund’s
common
shares
will
experience
a
greater
increase
in
their
net
asset
value
if
the
securities
acquired
through
the
use
of
leverage
increase
in
value,
but
will
also
experience
a
correspondingly
larger
decline
in
their
net
asset
value
if
the
securities
acquired
through
leverage
decline
in
value.
All
this
will
make
the
shares’
total
return
performance
more
variable
over
time.
In
addition,
common
share
income
in
levered
funds
will
typically
decrease
in
comparison
to
unlevered
funds
when
short-term
interest
rates
increase
and
increase
when
short-term
interest
rates
decrease.
In
recent
quarters,
fund
leverage
expenses
have
generally
tracked
the
overall
movement
of
short-term
interest
rates.
While
fund
leverage
expenses
are
higher
than
their
prior
year
lows,
leverage
nevertheless
continues
to
provide
the
opportunity
for
incremental
common
share
income,
particularly
over
longer-term
periods.
The
Funds’
use
of
leverage
significantly
contributed
to
relative
performance
over
this
reporting
period.
In
addition,
the
Funds’
use
of
leverage
was
accretive
to
overall
common
share
income.
As
of
April
30,
2023,
the
Funds’
percentages
of
leverage
are
as
shown
in
the
accompanying
table.
THE
FUNDS’
REGULATORY
LEVERAGE
As
of
April
30,
2023,
the
following
Funds
have
issued
and
outstanding
preferred
shares
as
shown
in
the
accompanying
table.
Refer
to
Notes
to
Financial
Statements
for
further
details
on
preferred
shares
and
each
Fund’s
respective
transactions.
NAD
NEA
Effective
Leverage
*
39.87%
39.85%
Regulatory
Leverage
*
38.44%
38.38%
*
Effective
Leverage
is
a
Fund’s
effective
economic
leverage,
and
includes
both
regulatory
leverage
and
the
leverage
effects
of
certain
derivative
and
other
investments
in
a
Fund’s
portfolio
that
increase
the
Fund’s
investment
exposure.
Currently,
the
leverage
effects
of
Tender
Option
Bond
(TOB)
inverse
floater
holdings
are
included
in
effective
leverage
values,
in
addition
to
any
regulatory
leverage.
Regulatory
leverage
consists
of
preferred
shares
issued
or
borrowings
of
a
Fund.
Both
of
these
are
part
of
a
Fund’s
capital
structure.
A
Fund,
however,
may
from
time
to
time
borrow
on
a
typically
transient
basis
in
connection
with
its
day-to-day
operations,
primarily
in
connection
with
the
need
to
settle
portfolio
trades.
Such
incidental
borrowings
are
excluded
from
the
calculation
of
a
Fund’s
effective
leverage
ratio.
Regulatory
leverage
is
subject
to
asset
coverage
limits
set
forth
in
the
Investment
Company
Act
of
1940.
Variable
Rate
Preferred*
Variable
Rate
Remarketed
Preferred**
Fund
Shares
Issued
at
Liquidation
Preference
Shares
Issued
at
Liquidation
Preference
Total
NAD
$1,406,500,000
$
504,300,000
$1,910,800,000
NEA
$ 643,000,000
$
1,728,300,000
$2,371,300,000
*
Preferred
shares
of
the
Fund
featuring
a
floating
rate
dividend
based
on
a
predetermined
formula
or
spread
to
an
index
rate.
Includes
the
following
preferred
shares
AMTP,
iMTP,
MFP-VRM
and
VRDP
in
Special
Rate
Mode,
where
applicable.
See
Notes
to
Financial
Statements
for
further
details.
**
Preferred
shares
of
the
Fund
featuring
floating
rate
dividends
set
by
a
remarketing
agent
via
a
regular
remarketing.
Includes
the
following
preferred
shares
VRDP
not
in
Special
Rate
Mode
MFP-VRRM
and
MFP-VRDM,
where
applicable.
See
Notes
to
Financial
Statements
for
further
details.
COMMON
SHARE
DISTRIBUTION
INFORMATION
The
following
information
regarding the
Funds' distributions
is
current
as
of
April
30,
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)
NAD
NEA
November
$0.0465
$0.0445
December
0.0465
0.0445
January
0.0395
0.0350
February
0.0395
0.0350
March
0.0395
0.0350
April
0.0380
0.0350
Total
Distributions
from
Net
Investment
Income
$0.2495
$0.2290
1
Distributions
paid
in
December
2022.
Yields
NAD
NEA
Market
Yield
1
3.98%
3.78%
Taxable-Equivalent
Yield
1
6.71%
6.38%
1
Market
Yield
is
based
on
the
Fund’s
current
annualized
monthly
dividend
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
federal
income
tax
rate
of
40.8%.
Your
actual
federal
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
not
exempt
from
federal
income
tax.
Separately,
if
the
comparison
were
instead
to
investments
that
generate
qualified
dividend
income,
which
is
taxable
at
a
rate
lower
than
an
individual’s
ordinary
graduated
tax
rate,
the
fund’s
Taxable-Equivalent
Yield
would
be
lower.
During
the
current
reporting
period,
the
Funds
did
not
repurchase
any
of
their
outstanding
common
shares.
As
of
April
30,
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
April
30,
2023,
the
Funds’
common
share
prices
were
trading
at
a
premium/(discount)
to
their
common
share
NAVs
and
trading
at
an
average
premium/(discount)
to
NAV
during
the
current
reporting
period,
as
follows:
NAD
NEA
Common
shares
cumulatively
repurchased
and
retired
17,900
75,000
Common
shares
authorized
for
repurchase
23,340,000
29,900,000
NAD
NEA
Common
share
NAV
$13.11
$12.73
Common
share
price
$11.47
$11.11
Premium/(Discount)
to
NAV
(12.51)%
(12.73)%
Average
premium/(discount)
to
NAV
(11.44)%
(11.73)%
About
the
Funds’
Benchmarks
(Unaudited)
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
Investment
Grade
Index
:
An
index
designed
to
measure
the
performance
of
tax-exempt
investment
grade
municipal
bonds.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
S&P
Municipal
Bond
High
Yield
Index
:
An
index
designed
to
measure
the
performance
of
tax-exempt
high
yield
municipal
bonds.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
NAD
Blended
Benchmark:
Consists
of:
1)
80%
S&P
Municipal
Bond
Investment
Grade
Index
(defined
herein),
and
2)
20%
S&P
Municipal
Bond
High
Yield
Index
(defined
herein).
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
September
11,
2016.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
NEA
Blended
Benchmark:
Consists
of:
1)
80%
S&P
Municipal
Bond
Investment
Grade
Index
(defined
herein),
and
2)
20%
S&P
Municipal
Bond
High
Yield
Index
(defined
herein).
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
September
11,
2016.
Index
returns
assume
reinvestment
of
distributions,
but
do
not
reflect
any
applicable
sales
charges
or
management
fees.
Nuveen
Quality
Municipal
Income
Fund
Performance
Overview
and
Holding
Summaries
April
30,
2023
Refer
to
the
Glossary
of
Terms
Used
in
this
Report
for
further
definition
of
the
terms
used
within
this
section.
Fund
Performance*
a
*For
purposes
of
Fund
performance,
relative
results
are
measured
against
the
NAD
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consists
of:
1)
80%
S&P
Municipal
Bond
Investment
Grade
Index
and
2)
20%
S&P
Municipal
Bond
High
Yield
Index.
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
September
11,
2016.
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
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
5-Year
10-Year
NAD
at
Common
Share
NAV
5/26/99
12.77%
0.16%
1.90%
2.79%
NAD
at
Common
Share
Price
5/26/99
10.25%
(5.94)%
2.22%
2.64%
S&P
Municipal
Bond
Index
—
7.15%
2.44%
2.06%
2.27%
NAD
Blended
Benchmark
—
7.39%
2.12%
2.23%
2.40%
Performance
Overview
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
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.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
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
162.7%
Investment
Companies
0.0%
Variable
Rate
Senior
Loan
Interests
0.0%
Short-Term
Municipal
Bonds
0.5%
Other
Assets
&
Liabilities,
Net
2.2%
Floating
Rate
Obligations
(2.9)%
AMTP
Shares,
Net
(23.8)%
MFP
Shares,
Net
(22.2)%
VRDP
Shares,
Net
(16.5)%
Net
Assets
100%
Bond
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
8.2%
AAA
1.9%
AA
24.2%
A
39.1%
BBB
15.4%
BB
or
Lower
4.9%
N/R
(not
rated)
6.3%
N/A
(not
applicable)
0.0%
Total
100%
Portfolio
Composition
(%
of
total
investments)
Transportation
27.7%
Health
Care
19.0%
Tax
Obligation/Limited
14.8%
Utilities
9.7%
Tax
Obligation/General
9.6%
U.S.
Guaranteed
8.1%
Education
and
Civic
Organizations
4.9%
Other
6.2%
Variable
Rate
Senior
Loan
Interests
0.0%
Investment
Companies
0.0%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Texas
11.0%
Illinois
9.1%
Colorado
7.9%
California
7.2%
New
York
6.1%
Maryland
5.8%
Florida
5.8%
Pennsylvania
3.7%
Missouri
3.4%
New
Jersey
3.2%
South
Carolina
2.6%
Ohio
2.5%
Washington
2.4%
Michigan
2.3%
Louisiana
1.9%
Wisconsin
1.9%
Minnesota
1.9%
District
of
Columbia
1.7%
Arizona
1.7%
Oregon
1.6%
Other
16.3%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
Performance
Overview
and
Holding
Summaries
April
30,
2023
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
NEA
Blended
Benchmark.
The
Fund’s
Blended
Benchmark
consists
of:
1)
80%
S&P
Municipal
Bond
Investment
Grade
Index
and
2)
20%
S&P
Municipal
Bond
High
Yield
Index.
The
Fund’s
performance
was
measured
against
the
S&P
Municipal
Bond
Index
through
September
11,
2016.
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
Total
Returns
as
of
April
30,
2023
Cumulative
Average
Annual
Inception
Date
6-Month
1-Year
5-Year
10-Year
NEA
at
Common
Share
NAV
11/21/02
12.81%
(0.23)%
1.68%
2.95%
NEA
at
Common
Share
Price
11/21/02
9.87%
(6.57)%
1.94%
2.53%
S&P
Municipal
Bond
Index
—
7.15%
2.44%
2.06%
2.27%
NEA
Blended
Benchmark
—
7.39%
2.12%
2.23%
2.40%
Performance
Overview
and
Holdings
Summaries
April
30,
2023
(continued)
Holdings
Summaries
as
of
April
30,
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.
The
ratings
disclosed
are
the
lowest
rating
given
by
one
of
the
following
national
rating
agencies:
Standard
&
Poor’s
Group,
Moody’s
Investors
Service,
Inc.
or
Fitch,
Inc.
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
162.1%
Other
Assets
&
Liabilities,
Net
2.3%
Floating
Rate
Obligations
(2.4)%
AMTP
Shares,
Net
(4.5)%
MFP
Shares,
Net
(27.2)%
VRDP
Shares,
Net
(30.3)%
Net
Assets
100%
Bond
Credit
Quality
(%
of
total
investment
exposure)
U.S.
Guaranteed
10.3%
AAA
2.6%
AA
30.6%
A
35.0%
BBB
13.2%
BB
or
Lower
3.2%
N/R
(not
rated)
5.1%
Total
100%
Portfolio
Composition
(%
of
total
investments)
Health
Care
22.1%
Tax
Obligation/Limited
17.7%
Transportation
14.9%
Tax
Obligation/General
11.9%
Utilities
11.0%
U.S.
Guaranteed
10.4%
Education
and
Civic
Organizations
6.7%
Other
5.3%
Total
100%
States
and
Territories
1
(%
of
total
municipal
bonds)
Illinois
9.8%
Colorado
8.7%
Michigan
7.9%
Texas
7.3%
New
York
6.2%
New
Jersey
4.5%
Florida
4.3%
California
4.2%
Pennsylvania
3.6%
Ohio
3.4%
Missouri
3.3%
Minnesota
2.8%
North
Carolina
2.7%
South
Carolina
2.5%
Wisconsin
2.4%
Georgia
2.4%
Washington
2.3%
District
of
Columbia
2.2%
Oregon
1.8%
Indiana
1.7%
Other
16.0%
Total
100%
1
See
the
Portfolio
of
Investments
for
the
remaining
states
comprising
"Other"
and
not
listed
in
the
table
above.
Nuveen
Quality
Municipal
Income
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
162.7%
(99.7%
of
Total
Investments)
X
4,977,546,856
MUNICIPAL
BONDS
-
162.7%
(99.7%
of
Total
Investments)
X
4,977,546,856
Alabama
-
0.9%
(0.5%
of
Total
Investments)
$
5,000
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016C,
5.000%,
11/15/46
5/26
at
100.00
Aa2
$
5,111,800
Alabama
State
Port
Authority,
Docks
Facilities
Revenue
Bonds,
Refunding
Series
2017A:
5,000
5.000%,
10/01/33
-
AGM
Insured,
(AMT)
10/27
at
100.00
BBB+
5,279,400
5,455
5.000%,
10/01/34
-
AGM
Insured,
(AMT)
10/27
at
100.00
BBB+
5,741,660
5,550
5.000%,
10/01/35
-
AGM
Insured,
(AMT)
10/27
at
100.00
BBB+
5,811,405
1,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
3,
Fixed
Rate
Series
2022A-1,
5.500%,
1/01/53,
(Mandatory
Put
12/01/29)
9/29
at
100.10
A1
1,080,950
4,165
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A,
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R
3,686,025
Total
Alabama
26,711,240
Alaska
-
0.3%
(0.2%
of
Total
Investments)
Alaska
Industrial
Development
and
Export
Authority,
Power
Revenue
Bonds,
Snettisham
Hydroelectric
Project,
Refunding
Series
2015:
1,580
5.000%,
1/01/24,
(AMT)
No
Opt.
Call
Baa2
1,588,042
3,400
5.000%,
1/01/25,
(AMT)
No
Opt.
Call
Baa2
3,457,834
1,000
5.000%,
1/01/28,
(AMT)
7/25
at
100.00
Baa2
1,025,010
1,075
5.000%,
1/01/29,
(AMT)
7/25
at
100.00
Baa2
1,102,940
300
5.000%,
1/01/31,
(AMT)
7/25
at
100.00
Baa2
307,803
395
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1,
4.000%,
6/01/50
6/31
at
100.00
BBB+
349,559
Total
Alaska
7,831,188
Arizona
-
2.8%
(1.7%
of
Total
Investments)
3,815
Arizona
Board
of
Regents,
University
of
Arizona,
Speed
Revenue
Bonds,
Stimulus
Plan
for
Economic
and
Educational
Development,
Refunding
Series
2020A,
4.000%,
8/01/44
8/30
at
100.00
A+
3,718,061
2,500
Arizona
Health
Facilities
Authority,
Revenue
Bonds,
Scottsdale
Lincoln
Hospitals
Project,
Refunding
Series
2014A,
5.000%,
12/01/39
12/24
at
100.00
A2
2,546,650
1,000
Arizona
Industrial
Development
Authority
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2023,
5.375%,
7/01/53
7/31
at
100.00
BB+
963,110
2,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2018A,
5.000%,
7/01/48
1/28
at
100.00
AA-
2,023,300
11,795
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Refunding
Series
2016A,
4.000%,
1/01/36
1/27
at
100.00
AA-
11,916,017
4,665
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Junior
Lien
Series
2019B,
5.000%,
7/01/49,
(AMT)
7/29
at
100.00
A+
4,803,037
15,935
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Series
2017A,
5.000%,
7/01/42,
(AMT)
7/27
at
100.00
AA-
16,433,765
6,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Series
2018,
5.000%,
7/01/48,
(AMT)
7/28
at
100.00
AA-
6,176,280
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
7,000
Phoenix
Civic
Improvement
Corporation,
Arizona,
Revenue
Bonds,
Civic
Plaza
Expansion
Project,
Series
2005B,
5.500%,
7/01/39
-
FGIC
Insured
No
Opt.
Call
AA
$
8,647,590
1,000
Pinal
County
Electrical
District
4,
Arizona,
Electric
System
Revenue
Bonds,
Refunding Series
2015,
4.000%,
12/01/38
-
AGM
Insured
12/25
at
100.00
AA
1,006,680
Salt
Verde
Financial
Corporation,
Arizona,
Senior
Gas
Revenue
Bonds,
Citigroup
Energy
Inc
Prepay
Contract
Obligations,
Series
2007:
500
5.500%,
12/01/29
No
Opt.
Call
BBB+
539,560
24,765
5.000%,
12/01/37
No
Opt.
Call
BBB+
25,691,211
1,100
Student
and
Academic
Services
LLC,
Arizona,
Lease
Revenue
Bonds,
Northern
Arizona
University
Project,
Series
2014,
5.000%,
6/01/34
-
BAM
Insured
6/24
at
100.00
A2
1,116,423
Total
Arizona
85,581,684
Arkansas
-
0.3%
(0.2%
of
Total
Investments)
5,020
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-
5,012,269
4,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT),
144A
9/26
at
103.00
BB-
3,590,040
2,055
Arkansas
State
University,
Student
Fee
Revenue
Bonds,
Jonesboro
Campus,
Series
2013,
4.875%,
12/01/43
12/23
at
100.00
A1
2,056,624
Total
Arkansas
10,658,933
California
-
11.8%
(7.2%
of
Total
Investments)
2,665
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C,
5.000%,
10/01/52
-
AGM
Insured
10/32
at
100.00
BBB
2,899,067
Anaheim
Public
Financing
Authority,
California,
Lease
Revenue
Bonds,
Public
Improvement
Project,
Series
1997C:
2,945
0.000%,
9/01/27
-
AGM
Insured
No
Opt.
Call
A1
2,570,720
7,150
0.000%,
9/01/28
-
AGM
Insured
No
Opt.
Call
A1
6,046,540
2,455
0.000%,
9/01/32
-
AGM
Insured
No
Opt.
Call
A1
1,783,116
105
0.000%,
9/01/35
-
AGM
Insured,
(ETM)
No
Opt.
Call
AA (4)
71,624
95
0.000%,
9/01/35
-
AGM
Insured
No
Opt.
Call
AA
59,712
1,055
Brisbane
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Election
2003
Series
2005,
0.000%,
7/01/35
-
AGM
Insured
No
Opt.
Call
A1
664,777
Byron
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2007B:
60
0.000%,
8/01/32,
(ETM)
No
Opt.
Call
A2 (4)
46,727
1,405
0.000%,
8/01/32
-
SYNCORA
GTY
Insured
No
Opt.
Call
A+
1,019,384
235
0.000%,
8/01/32
-
SYNCORA
GTY
Insured,
(ETM)
No
Opt.
Call
N/R (4)
184,694
Calexico
Unified
School
District,
Imperial
County,
California,
General
Obligation
Bonds,
Series
2005B:
3,685
0.000%,
8/01/31
-
FGIC
Insured
No
Opt.
Call
A
2,781,364
4,505
0.000%,
8/01/33
-
FGIC
Insured
No
Opt.
Call
A
3,140,075
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B:
2,855
5.000%,
11/15/46,
(Pre-refunded
11/15/26)
11/26
at
100.00
N/R (4)
3,085,084
10,000
5.000%,
11/15/46
11/26
at
100.00
A+
10,267,800
16,665
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2017A,
5.000%,
11/15/48
11/27
at
100.00
A+
17,191,281
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
2,275
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Series
2018A,
4.000%,
11/15/42
11/27
at
100.00
A+
$
2,179,063
710
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph
Health
System,
Series
2013A,
5.000%,
7/01/37,
(Pre-refunded
7/01/23)
7/23
at
100.00
A (4)
711,952
5,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A,
5.000%,
12/31/43,
(AMT)
6/28
at
100.00
BBB-
5,097,600
3,250
California
Municipal
Finance
Authority,
Reveue
Bonds,
Community
Medical
Centers,
Series
2017A,
5.000%,
2/01/47
2/27
at
100.00
BBB+
3,335,182
815
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2013I,
5.000%,
11/01/38
11/23
at
100.00
A+
821,145
500
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A,
5.250%,
12/01/44
12/24
at
100.00
BB
500,730
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A:
6,000
5.000%,
12/01/46,
144A
6/26
at
100.00
BB
5,745,780
8,550
5.250%,
12/01/56,
144A
6/26
at
100.00
BB
8,197,996
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
43
5.750%,
7/01/30
(5),(6)
1/22
at
100.00
N/R
42,527
116
5.500%,
7/01/39
(5),(6)
1/22
at
100.00
N/R
116,467
4,890
Clovis
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Series
2006B,
0.000%,
8/01/26
-
NPFG
Insured
No
Opt.
Call
Baa2
4,404,423
1,000
Coachella
Valley
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Series
2005A,
0.000%,
8/01/30
-
FGIC
Insured
No
Opt.
Call
A-
794,740
4,000
East
Bay
Municipal
Utility
District,
Alameda
and
Contra
Costa
Counties,
California,
Water
System
Revenue
Bonds,
Series
2014C,
5.000%,
6/01/44
6/24
at
100.00
AA+
4,048,680
3,010
El
Camino
Community
College
District,
California,
General
Obligation
Bonds,
Election
of
2002
Series
2012C,
0.000%,
8/01/25
No
Opt.
Call
AA+
2,823,440
3,500
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A,
0.000%,
1/15/34
-
AGM
Insured
No
Opt.
Call
BBB+
2,474,465
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A:
1,480
5.750%,
1/15/46,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2 (4)
1,508,786
6,480
6.000%,
1/15/49,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2 (4)
6,615,821
9,930
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
6/01/45,
(Pre-refunded
6/01/25)
6/25
at
100.00
A+ (4)
10,399,292
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2005A:
1,455
0.000%,
6/01/24
-
AMBAC
Insured,
(ETM)
No
Opt.
Call
A+ (4)
1,407,640
3,500
0.000%,
6/01/26
-
AGM
Insured,
(ETM)
No
Opt.
Call
Aa3 (4)
3,224,130
59,280
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
6,574,745
1,260
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
Certificates
of
Participation,
Capital
Project,
Series
2007,
0.000%,
9/01/35
-
AGM
Insured
No
Opt.
Call
A1
801,625
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
5,240
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2005,
0.000%,
8/01/30
-
AGM
Insured
No
Opt.
Call
AA
$
4,251,526
2,500
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2007,
0.000%,
8/01/32
-
FGIC
Insured
No
Opt.
Call
AA-
1,886,200
5,000
Kern
Community
College
District,
California,
General
Obligation
Bonds,
Safety,
Repair
&
Improvement,
Election
2002
Series
2006,
0.000%,
11/01/24
-
AGM
Insured
No
Opt.
Call
AA
4,764,300
1,045
Lake
Tahoe
Unified
School
District,
El
Dorado
County,
California,
General
Obligation
Bonds,
Series
2001B,
0.000%,
8/01/31
-
NPFG
Insured
No
Opt.
Call
A-
810,147
9,140
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2015D,
5.000%,
5/15/41,
(AMT)
5/25
at
100.00
AA
9,252,970
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D:
12,835
5.000%,
5/15/46,
(AMT)
11/31
at
100.00
AA-
13,520,774
40
5.000%,
5/15/46,
(Pre-refunded
11/15/31),
(AMT)
11/31
at
100.00
N/R (4)
45,850
2,665
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2014B,
5.000%,
7/01/43
1/24
at
100.00
AA-
2,691,810
6,215
Martinez
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Series
2011,
5.875%,
8/01/31,
(Pre-
refunded
8/01/24)
8/24
at
100.00
Aa3 (4)
6,438,305
5,955
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A,
0.000%,
8/01/43
(7)
8/35
at
100.00
AA
5,484,615
2,700
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009A,
7.000%,
11/01/34
No
Opt.
Call
BBB+
3,290,490
2,200
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009C,
6.500%,
11/01/39
No
Opt.
Call
BBB+
2,581,282
5,875
Ontario
Redevelopment
Financing
Authority,
San
Bernardino
County,
California,
Revenue
Bonds,
Redevelopment
Project
1,
Refunding
Series
1995,
7.400%,
8/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2
6,083,093
4,930
Patterson
Joint
Unified
School
District,
Stanislaus
County,
California,
General
Obligation
Bonds,
2008
Election
Series
2009B,
0.000%,
8/01/42
-
AGM
Insured
No
Opt.
Call
A1
2,122,069
13,145
Perris,
California,
GNMA
Mortgage-Backed
Securities
Program
Single
Family
Mortgage
Revenue
Bonds,
Series
1988B,
8.200%,
9/01/23,
(ETM)
No
Opt.
Call
AA+ (4)
13,336,523
6,000
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)
4,374,300
995
Pomona,
California,
GNMA/FNMA
Collateralized
Securities
Program
Single
Family
Mortgage
Revenue
Bonds,
Series
1990A,
7.600%,
5/01/23,
(ETM)
No
Opt.
Call
AA+ (4)
995,000
2,000
Poway
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
School
Facilities
Improvement
District
2007-1,
Series
2011A,
0.000%,
8/01/41
No
Opt.
Call
AA-
942,180
5,000
Rialto
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
2010
Election
Series
2011A,
0.000%,
8/01/41
-
AGM
Insured
(7)
8/36
at
100.00
Aa3
5,747,150
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
5,000
Riverside
County
Asset
Leasing
Corporation,
California,
Leasehold
Revenue
Bonds,
Riverside
County
Hospital
Project,
Series
1997,
0.000%,
6/01/25
-
NPFG
Insured
No
Opt.
Call
A+
$
4,662,900
4,615
Riverside
County
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Jurupa
Valley
Project
Area,
Series
2011B,
0.000%,
10/01/38
No
Opt.
Call
A+
2,442,258
330
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Senior
Lien
Bonds,
Series
2013A,
5.750%,
6/01/48,
(Pre-refunded
6/01/23)
6/23
at
100.00
A (4)
330,663
10,990
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2021B,
5.000%,
7/01/46,
(AMT)
7/31
at
100.00
A2
11,547,523
4,945
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2016B,
5.000%,
5/01/41,
(AMT)
5/26
at
100.00
A+
5,055,570
10,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2017A,
5.000%,
5/01/42,
(AMT)
5/27
at
100.00
A+
10,283,500
22,460
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019A,
5.000%,
5/01/49,
(AMT)
5/29
at
100.00
A+
23,217,576
11,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E,
5.000%,
5/01/45,
(AMT)
5/29
at
100.00
A+
11,428,010
2,000
San
Francisco
City
and
County
Redevelopment
Agency
Successor
Agency,
California,
Special
Tax
Bonds,
Community
Facilities
District 6
Mission
Bay
South
Public
Improvements,
Series
2013C,
0.000%,
8/01/43
5/23
at
30.77
N/R
614,060
2,000
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Junior
Lien
Series
2014B,
5.250%,
1/15/44
1/25
at
100.00
BBB
2,036,040
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A:
15,350
5.000%,
1/15/44,
(Pre-refunded
1/15/25)
1/25
at
100.00
A (4)
15,932,993
25,840
5.000%,
1/15/50,
(Pre-refunded
1/15/25)
1/25
at
100.00
A (4)
26,821,403
San
Jose,
California,
Airport
Revenue
Bonds,
Refunding
Series
2017A:
5,000
5.000%,
3/01/41,
(AMT)
3/27
at
100.00
A
5,147,400
5,000
5.000%,
3/01/47,
(AMT)
3/27
at
100.00
A
5,107,200
14,985
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
1997
Election
Series
2012G,
0.000%,
8/01/40
-
AGM
Insured
No
Opt.
Call
AA
6,955,288
6,660
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2015,
0.000%,
8/01/43
8/25
at
38.93
A3
2,338,526
2,460
Santee
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
2006,
Series
2008D,
0.000%,
8/01/33
-
AGC
Insured
No
Opt.
Call
AA
1,758,408
5,000
Solano
Community
College
District,
Solano
and
Yolo
Counties,
California,
General
Obligation
Bonds,
Election
2012
Series
2013A,
5.000%,
8/01/43,
(Pre-refunded
8/01/23)
8/23
at
100.00
AA (4)
5,022,300
1,145
Southern
Kern
Unified
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Series
2006C,
0.000%,
11/01/30
-
AGM
Insured
No
Opt.
Call
A1
900,760
1,175
Southern
Kern
Unified
School
District,
Kern
County,
California,
General
Obligation
Bonds,
Series
2010B,
0.000%,
11/01/35
-
AGM
Insured
No
Opt.
Call
A1
738,605
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
2,410
Victor
Elementary
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
Series
2002A,
0.000%,
8/01/26
-
FGIC
Insured
No
Opt.
Call
A+
$
2,174,832
3,750
Wiseburn
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2011B,
0.000%,
8/01/36
-
AGM
Insured
(7)
8/31
at
100.00
AA
3,998,475
Total
California
360,771,068
Colorado
-
12.9%
(7.9%
of
Total
Investments)
4,350
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021,
4.375%,
12/01/52
12/26
at
103.00
N/R
3,293,950
3,000
Anthem
West
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2015,
5.000%,
12/01/35
-
BAM
Insured
12/25
at
100.00
A1
3,132,270
2,000
Arvada,
Colorado,
Water
Enterprise
Revenue
Bonds,
Series
2022,
4.000%,
12/01/48
12/32
at
100.00
AA+
1,981,880
4,195
Boulder
Larimer
&
Weld
Counties
School
District
RE-1J
Saint
Vrain
Valley,
Colorado,
General
Obligation
Bonds,
Series
2016C,
4.000%,
12/15/34
12/26
at
100.00
AA+
4,314,180
5,095
Brighton,
Colorado,
Water
Activity
Enterprise
Revenue
Bonds,
Water
System
Project,
Series
2022,
5.000%,
6/01/52
6/32
at
100.00
AA
5,590,591
4,000
Centennial
Water
and
Sanitation
District,
Douglas
County,
Colorado,
Water
and
Wastewater
Revenue
Bonds,
Series
2019,
5.000%,
12/01/43
12/28
at
100.00
AA+
4,341,800
1,775
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017,
5.000%,
12/01/29,
144A
5/23
at
103.00
N/R
1,751,836
1,500
Cherokee
Metropolitan
District,
Colorado,
Water
and
Wastewater
Revenue
Bonds,
Series
2020,
4.000%,
8/01/50
-
BAM
Insured
8/30
at
100.00
AA
1,435,320
2,945
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Community
Leadership
Academy,
Inc.
Second
Campus
Project,
Series
2013,
7.350%,
8/01/43
8/23
at
100.00
BB+
2,964,172
1,715
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Flagstaff
Academy
Project,
Refunding
Series
2016,
3.625%,
8/01/46
8/26
at
100.00
A+
1,430,859
500
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Liberty
Common
Charter
School,
Series
2014A,
5.000%,
1/15/44
1/24
at
100.00
A+
502,780
1,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Peak-to-Peak
Charter
School,
Refunding
Series
2014,
5.000%,
8/15/30
8/24
at
100.00
A+
1,022,150
3,915
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Weld
County
School
District
6
-
Frontier
Academy,
Refunding
&
Improvement
Series
2016,
3.250%,
6/01/46
6/26
at
100.00
A+
3,145,585
545
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
University
Corporation
for
Atmospheric
Research
Project,
Refunding
Series
2017,
3.625%,
9/01/31
9/27
at
100.00
A2
553,219
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
University
of
Denver,
Series
2017A:
1,200
4.000%,
3/01/36
3/27
at
100.00
A1
1,216,608
1,600
4.000%,
3/01/37
3/27
at
100.00
A1
1,615,520
5,460
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2019A,
4.000%,
11/15/43
11/29
at
100.00
AA
5,281,622
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A:
17,905
4.000%,
11/15/46
11/31
at
100.00
AA
16,994,889
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
11,090
4.000%,
11/15/50
11/31
at
100.00
AA
$
10,311,260
4,600
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Christian
Living
Neighborhoods
Project,
Refunding
Series
2016,
5.000%,
1/01/37
1/24
at
102.00
N/R
4,068,654
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2:
4,000
5.000%,
8/01/44
8/29
at
100.00
Baa1
4,132,000
15,395
4.000%,
8/01/49
8/29
at
100.00
Baa1
13,962,649
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A:
2,725
5.500%,
11/01/47
11/32
at
100.00
Baa1
2,943,736
2,300
5.250%,
11/01/52
11/32
at
100.00
Baa1
2,419,945
270
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013,
5.625%,
6/01/43,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R (4)
270,497
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013A:
2,670
5.000%,
6/01/28,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R (4)
2,788,441
6,425
5.000%,
6/01/40,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R (4)
6,710,013
1,390
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Frasier
Meadows
Project,
Refunding
&
Improvement
Series
2017A,
5.250%,
5/15/47
5/27
at
100.00
BBB-
1,293,200
5,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Intermountain
Healthcare,
Series
2022A,
5.000%,
5/15/52
5/32
at
100.00
AA+
5,349,700
3,785
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Series
2020A,
4.000%,
9/01/50
9/30
at
100.00
Baa1
3,196,925
5,535
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sanford
Health,
Series
2019A,
5.000%,
11/01/44
11/29
at
100.00
A+
5,727,507
3,300
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
SCL
Health
System,
Refunding
Series
2019A,
4.000%,
1/01/37
1/30
at
100.00
AA+
3,367,617
1,100
Colorado
High
Performance
Transportation
Enterprise,
C-470
Express
Lanes
Revenue
Bonds,
Senior
Lien
Series
2017,
5.000%,
12/31/56
12/24
at
100.00
BBB
1,073,644
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017C:
1,115
5.000%,
3/01/43,
(Pre-refunded
3/01/28)
3/28
at
100.00
N/R (4)
1,245,388
710
5.000%,
3/01/43
-
BAM
Insured
3/28
at
100.00
AA
759,210
950
5.000%,
3/01/43,
(Pre-refunded
3/01/28)
-
BAM
Insured
3/28
at
100.00
N/R (4)
1,058,804
2,360
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017E,
4.000%,
3/01/43
3/28
at
100.00
AA
2,321,060
3,420
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2020R,
4.000%,
3/15/45
3/30
at
100.00
AA-
3,353,447
4,000
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2021S,
4.000%,
3/15/41
3/31
at
100.00
AA-
4,021,160
3,000
Commerce
City,
Colorado,
Sales
and
Use
Tax
Revenue
Bonds,
Series
2014,
5.000%,
8/01/44,
(Pre-refunded
8/01/24)
-
AGM
Insured
8/24
at
100.00
A1 (4)
3,069,600
7,250
Commerce
City,
Colorado,
Sales
and
Use
Tax
Revenue
Bonds,
Series
2016,
5.000%,
8/01/46,
(Pre-refunded
8/01/26)
8/26
at
100.00
A1 (4)
7,771,420
3,400
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022B,
5.250%,
11/15/53
11/32
at
100.00
AA-
3,785,356
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022D:
2,790
5.750%,
11/15/45,
(AMT)
11/32
at
100.00
AA-
3,169,635
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
5,000
5.000%,
11/15/53,
(AMT)
11/32
at
100.00
AA-
$
5,239,250
1,100
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2013A,
5.250%,
11/15/43,
(AMT)
11/23
at
100.00
A+
1,101,694
4,515
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
11/15/43
11/23
at
100.00
A+
4,533,873
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018A:
11,000
5.000%,
12/01/43,
(AMT)
12/28
at
100.00
A+
11,405,790
13,040
5.000%,
12/01/48,
(AMT)
12/28
at
100.00
A
13,385,821
9,040
5.250%,
12/01/48,
(AMT)
12/28
at
100.00
N/R
9,390,300
1,820
Denver
City
and
County,
Colorado,
Dedicated
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2016A,
4.000%,
8/01/46
8/26
at
100.00
AA-
1,769,040
11,000
Denver
City
and
County,
Colorado,
Dedicated
Tax
Revenue
Bonds,
Series
2021A,
4.000%,
8/01/51
8/31
at
100.00
AA-
10,703,000
2,005
Denver
City
and
County,
Colorado,
Special
Facilities
Airport
Revenue
Bonds,
United
Airlines,
Inc.
Project,
Refunding
Series
2017,
5.000%,
10/01/32,
(AMT)
10/23
at
100.00
BB-
2,007,185
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016:
2,955
5.000%,
12/01/28
12/26
at
100.00
BBB-
3,062,444
2,000
5.000%,
12/01/29
12/26
at
100.00
BBB-
2,071,120
2,400
5.000%,
12/01/36
12/26
at
100.00
BBB-
2,424,984
1,605
5.000%,
12/01/40
12/26
at
100.00
BBB-
1,604,920
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Capital
Appreciation
Series
2010A:
385
0.000%,
9/01/35
No
Opt.
Call
A
240,386
150
0.000%,
9/01/37
No
Opt.
Call
A
83,081
75
0.000%,
9/01/38
No
Opt.
Call
A
39,340
20
0.000%,
9/01/39
No
Opt.
Call
A
9,951
110
0.000%,
9/01/41
No
Opt.
Call
A
49,023
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
1997B:
1,520
0.000%,
9/01/23
-
NPFG
Insured
No
Opt.
Call
A
1,502,778
18,380
0.000%,
9/01/25
-
NPFG
Insured
No
Opt.
Call
A
17,060,500
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B:
1,045
0.000%,
9/01/29
-
NPFG
Insured
No
Opt.
Call
A
854,465
2,175
0.000%,
9/01/30
-
NPFG
Insured
No
Opt.
Call
A
1,712,987
25,050
0.000%,
9/01/31
-
NPFG
Insured
No
Opt.
Call
A
18,963,351
23,305
0.000%,
9/01/32
-
NPFG
Insured
No
Opt.
Call
A
16,915,934
100
0.000%,
9/01/33
-
NPFG
Insured
No
Opt.
Call
A
69,568
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
5,962,625
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A:
385
0.000%,
9/01/28
-
NPFG
Insured
No
Opt.
Call
A
325,129
60,000
0.000%,
3/01/36
-
NPFG
Insured
No
Opt.
Call
A
36,499,200
2,200
Eagle
River
Water
and
Sanitation
District,
Eagle
County,
Colorado,
Enterprise
Wastewater
Revenue
Bonds,
Improvement
Series
2020A,
4.000%,
12/01/49
-
AGM
Insured
12/29
at
100.00
AA
2,153,690
8,000
Ebert
Metropolitan
District,
Denver
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2018A-1,
5.000%,
12/01/43
-
BAM
Insured
12/28
at
100.00
A1
8,540,720
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
3,550
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
$
3,582,695
2,000
Firestone,
Colorado,
Water
Enterprise
Revenue
Bones,
Series
2020,
4.000%,
12/01/45
-
BAM
Insured
12/30
at
100.00
AA
1,949,200
3,935
Flying
Horse
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2020A,
4.000%,
12/01/50
-
AGM
Insured
12/30
at
100.00
A1
3,625,866
2,545
Future
Legends
Sports
Park
Business
Improvement
District,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A
and
Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2022B,
6.000%,
12/01/52
9/27
at
103.00
N/R
2,479,593
3,305
Goldsmith
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2021,
4.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
A1
3,033,230
1,860
Metropolitan
State
University
of
Denver,
Colorado,
Institutional
Enterprise
Revenue
Bonds,
Aerospace
and
Engineering
Sciences
Building
Project,
Series
2016,
4.000%,
12/01/40,
(Pre-refunded
12/01/25)
12/25
at
100.00
Aa2 (4)
1,914,442
1,000
North
Pine
Vistas
Metropolitan
District
3,
Castle
Pines,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Senior
Series
2021A,
4.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
A1
941,330
Northern
Colorado
Water
Conservancy
District
Building
Corporation,
Certificates
of
Participation,
Refunding
Series
2021:
9,520
4.000%,
7/01/46
7/31
at
100.00
AA+
9,368,251
3,250
4.000%,
7/01/51
7/31
at
100.00
AA+
3,162,413
Park
70
Metropolitan
District,
Aurora,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Refunding
&
Improvement
Series
2016:
1,565
5.000%,
12/01/36
12/26
at
100.00
Baa3
1,607,224
2,100
5.000%,
12/01/46
12/26
at
100.00
Baa3
2,123,415
8,000
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
12/01/45
12/25
at
100.00
A
8,132,160
2,235
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Series
2019A,
4.000%,
12/01/38
-
AGM
Insured
12/29
at
100.00
A
2,261,440
500
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/51,
144A
3/26
at
103.00
N/R
435,110
700
Public
Authority
for
Colorado
Energy,
Natural
Gas
Purchase
Revenue
Bonds, Colorado
Springs
Utilities,
Series
2008,
6.500%,
11/15/38
No
Opt.
Call
A-
839,237
750
Thompson
Crossing
Metropolitan
District
2,
Johnstown,
Larimer
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Series
2016B,
5.000%,
12/01/36
-
AGM
Insured
12/26
at
100.00
AA
795,600
Traditions
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Series
2016:
1,050
5.000%,
12/01/32
-
BAM
Insured
12/26
at
100.00
A3
1,120,812
1,000
4.125%,
12/01/37
-
BAM
Insured
12/26
at
100.00
A3
1,015,060
500
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/41
3/26
at
103.00
N/R
448,550
2,000
Vista
Ridge
Metropolitan
District,
In
the
Town
of
Erie,
Weld
County,
Colorado,
General
Obligation
Refunding
Bonds,
Series
2016A,
4.000%,
12/01/36
-
BAM
Insured
12/26
at
100.00
A2
2,042,920
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
6,225
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
6.750%,
12/01/52
12/29
at
103.00
N/R
$
5,854,550
Total
Colorado
395,155,346
Connecticut
-
1.2%
(0.7%
of
Total
Investments)
2,135
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Hartford
HealthCare
Issue,
Series
2021A,
4.000%,
7/01/51
7/31
at
100.00
A
1,983,735
850
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
McLean
Affiliates,
Series
2020A,
5.000%,
1/01/45,
144A
1/26
at
102.00
BB+
765,697
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes
Series
2018A:
14,775
5.000%,
1/01/34
1/28
at
100.00
AA-
16,239,942
6,410
5.000%,
1/01/37
1/28
at
100.00
AA-
6,931,902
6,000
5.000%,
1/01/38
1/28
at
100.00
AA-
6,457,920
4,000
University
of
Connecticut,
General
Obligation
Bonds,
Series
2020A,
5.000%,
2/15/39
2/30
at
100.00
A+
4,384,640
Total
Connecticut
36,763,836
Delaware
-
0.3%
(0.2%
of
Total
Investments)
800
Delaware
Health
Facilities
Authority,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018,
5.000%,
6/01/48
12/28
at
100.00
BBB
817,256
7,255
Delaware
Transportation
Authority,
Revenue
Bonds,
US
301
Project,
Series
2015,
5.000%,
6/01/55
6/25
at
100.00
AA-
7,408,516
Total
Delaware
8,225,772
District
of
Columbia
-
2.8%
(1.7%
of
Total
Investments)
510
District
of
Columbia
Housing
Finance
Agency,
GNMA
Collateralized
Single
Family
Mortgage
Revenue
Bonds,
Series
1988E-4,
6.375%,
6/01/26,
(AMT)
5/23
at
100.00
AA+
511,102
775
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2001,
6.500%,
5/15/33
No
Opt.
Call
BBB
791,818
34,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
5/23
at
24.22
N/R
7,853,320
5,265
District
of
Columbia
Water
and
Sewer
Authority,
Public
Utility
Revenue
Bonds,
Series
1998,
5.500%,
10/01/23
-
AGM
Insured,
(UB)
4/09
at
160.00
Aa1
5,316,228
Metropolitan
Washington
Airports
Authority,
Virginia,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B:
2,000
4.000%,
10/01/44
10/29
at
100.00
Baa2
1,930,360
4,750
5.000%,
10/01/47
10/29
at
100.00
Baa2
4,974,010
7,500
4.000%,
10/01/49
10/29
at
100.00
Baa2
7,050,975
2,000
Metropolitan
Washington
Airports
Authority,
Virginia,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B,
0.000%,
10/01/36
-
AGC
Insured
No
Opt.
Call
A2
1,188,360
5,000
Metropolitan
Washington
Airports
Authority,
Virginia,
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
A2 (4)
5,617,250
4,500
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2013A,
5.000%,
10/01/30,
(AMT)
10/23
at
100.00
AA-
4,520,655
15,800
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2018A,
5.000%,
10/01/43,
(AMT)
10/28
at
100.00
AA-
16,406,088
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
District
of
Columbia
(continued)
$
5,000
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2019A,
5.000%,
10/01/49,
(AMT)
10/29
at
100.00
AA-
$
5,173,000
21,495
Metropolitan
Washington
D.C.
Airports
Authority,
Airport
System
Revenue
Bonds,
Refunding
Series
2021A,
5.000%,
10/01/46,
(AMT)
10/31
at
100.00
AA-
22,629,291
1,000
Washington
Metropolitan
Area
Transit
Authority,
District
of
Columbia,
Gross
Revenue
Bonds,
Refunding
Crossover
Series
2017A-2,
5.000%,
7/01/33
7/27
at
100.00
AA-
1,083,620
1,000
Washington
Metropolitan
Area
Transit
Authority,
District
of
Columbia,
Gross
Revenue
Bonds,
Series
2018,
5.000%,
7/01/38
7/27
at
100.00
AA-
1,060,650
Total
District
of
Columbia
86,106,727
Florida
-
9.5%
(5.8%
of
Total
Investments)
1,480
Atlantic
Beach,
Florida,
Healthcare
Facilities
Revenue
Refunding
Bonds,
Fleet
Landing
Project,
Series
2013A,
5.000%,
11/15/37
11/23
at
100.00
BBB
1,386,834
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2013A:
450
5.000%,
9/01/45
9/23
at
100.00
BBB
450,972
2,260
5.000%,
9/01/48
9/23
at
100.00
BBB
2,264,384
8,280
Broward
County,
Florida,
Airport
System
Revenue
Bonds,
Series
2019A,
5.000%,
10/01/44,
(AMT)
10/29
at
100.00
A+
8,606,729
175
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C,
5.000%,
9/15/40,
144A
9/27
at
100.00
N/R
155,746
18,500
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
17,587,395
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
12,000
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
5/23
at
102.00
N/R
11,411,400
15,985
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
5/23
at
102.00
N/R
15,085,844
5,000
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
4,914,250
12,500
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
12,659,625
Greater
Orlando
Aviation
Authority,
Florida,
Orlando
Airport
Facilities
Revenue
Bonds,
Priority
Subordinated
Series
2017A:
31,985
5.000%,
10/01/42,
(AMT)
10/27
at
100.00
A+
32,911,606
2,665
5.000%,
10/01/47,
(AMT)
10/27
at
100.00
A+
2,724,749
6,020
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Senior
Lien
Series
2015A,
5.000%,
10/01/44,
(Pre-refunded
10/01/24),
(AMT)
10/24
at
100.00
A+ (4)
6,140,340
5,000
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Series
2018E,
5.000%,
10/01/43,
(AMT)
10/28
at
100.00
AA-
5,191,800
2,290
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Subordinate
Lien
Series
2015B,
5.000%,
10/01/40,
(Pre-refunded
10/01/24)
10/24
at
100.00
A+ (4)
2,354,944
10,305
Hillsborough
County
Aviation
Authority,
Florida,
Tampa
International
Airport
Customer
Facility
Charge
Revenue
Bonds,
Series
2015A,
5.000%,
10/01/44
10/24
at
100.00
A3
10,432,267
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
10,000
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A,
4.000%,
8/01/55
2/31
at
100.00
Baa1
$
8,979,800
5,000
Hillsborough
County
Port
District,
Florida,
Revenue
Bonds,
Tampa
Port
Authority
Project,
Series
2018B,
5.000%,
6/01/46,
(AMT)
6/28
at
100.00
A
5,119,750
5,075
Lakeland,
Florida,
Hospital
System
Revenue
Bonds,
Lakeland
Regional
Health,
Series
2015,
5.000%,
11/15/35,
(Pre-refunded
11/15/24)
11/24
at
100.00
A2 (4)
5,229,229
9,820
Miami
Beach
Redevelopment
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
City
Center/Historic
Convention
Village,
Series
2015A,
5.000%,
2/01/44
-
AGM
Insured
2/24
at
100.00
A1
9,782,782
2,000
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017,
5.125%,
7/01/46
7/27
at
100.00
BB+
1,644,180
2,930
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2012A,
5.000%,
4/01/42
5/23
at
100.00
A-
2,937,091
8,070
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2015A,
5.000%,
4/01/45
4/25
at
100.00
A-
8,215,744
12,545
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2018A,
5.000%,
4/01/53
4/28
at
100.00
A-
13,047,804
1,500
Miami-Dade
County
Health
Facility
Authority,
Florida,
Hospital
Revenue
Bonds,
Nicklaus
Children's
Hospital,
Refunding
Series
2017,
5.000%,
8/01/42
8/27
at
100.00
A
1,547,805
5,000
Miami-Dade
County
School
District,
Florida,
General
Obligation
Bonds,
School
Series
2022A,
5.000%,
3/15/52
-
BAM
Insured
3/32
at
100.00
Aa3
5,504,500
1,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Miami
International
Airport,
Refunding
Series
2014B,
5.000%,
10/01/37
10/24
at
100.00
A
1,016,170
5,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2014A,
5.000%,
10/01/35,
(AMT)
10/24
at
100.00
A
5,052,850
3,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
10/01/38,
(AMT)
10/25
at
100.00
A
3,040,440
13,385
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2017B,
5.000%,
10/01/40,
(AMT)
10/27
at
100.00
A
13,741,309
1,005
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT),
(UB)
(8)
10/32
at
100.00
A3
1,074,456
3,000
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2022,
5.000%,
7/01/52
7/32
at
100.00
AA
3,233,610
6,035
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2019B,
4.000%,
10/01/49
10/29
at
100.00
A+
5,853,769
3,500
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2021,
4.000%,
10/01/46
4/31
at
100.00
A+
3,425,100
7,000
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2022,
4.000%,
10/01/52
4/32
at
100.00
A2
6,499,990
2,500
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2023,
5.000%,
10/01/53
4/33
at
100.00
A2
2,650,225
2,360
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Series
2019A-1,
5.000%,
10/01/49
10/29
at
100.00
BBB-
2,395,235
2,255
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Retirement
Communities
Revenue
Bonds,
ACTS
Retirement
-
Life
Communities,
Inc
Obligated
Group,
Series
2016,
5.000%,
11/15/32
11/26
at
100.00
A-
2,281,135
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
4,635
Port
Saint
Lucie,
Florida,
Public
Service
Tax
Revenue
Bonds,
Recovery
Zone
Facility
Bond
Series
2014B,
5.000%,
9/01/43
9/24
at
100.00
AA-
$
4,731,037
10,095
Putnam
County
Development
Authority,
Florida,
Pollution
Control
Revenue
Bonds,
Seminole
Electric
Cooperative,
Inc.
Project,
Refunding
Series
2018B,
5.000%,
3/15/42
5/28
at
100.00
A-
10,575,219
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017:
2,000
5.000%,
8/15/42
8/27
at
100.00
A1
2,058,740
9,770
5.000%,
8/15/47
8/27
at
100.00
A1
9,986,796
705
Southeast
Overtown/Park
West
Community
Redevelopement
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
Series
2014A-1,
5.000%,
3/01/30,
144A
3/24
at
100.00
BBB+
714,623
1,500
Sumter
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Central
Florida
Health
Alliance
Projects,
Series
2014A,
5.250%,
7/01/44
1/24
at
100.00
A-
1,505,715
2,405
Tampa,
Florida,
Health
System
Revenue
Bonds,
Baycare
Health
System,
Series
2016A,
4.000%,
11/15/46
5/26
at
100.00
Aa2
2,212,023
5,545
Tampa,
Florida,
Hospital
Revenue
Bonds,
H.
Lee
Moffitt
Cancer
Center
Project,
Series
2020B,
5.000%,
7/01/50
7/30
at
100.00
A-
5,646,695
180
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-2,
0.000%,
5/01/40
(7)
5/23
at
100.00
N/R
162,972
195
Tolomato
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Refunding
Series
2015-3,
6.610%,
5/01/40
(5)
5/23
at
100.00
N/R
2
6,510
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Stetson
University
Inc.
Project,
Series
2015,
5.000%,
6/01/45
6/25
at
100.00
A-
6,621,842
Total
Florida
290,767,523
Georgia
-
2.3%
(1.4%
of
Total
Investments)
1,820
Atlanta
Development
Authority,
Georgia,
Revenue
Bonds,
New
Downtown
Atlanta
Stadium
Project,
Senior
Lien
Series
2015A-1,
5.250%,
7/01/40
7/25
at
100.00
A
1,870,414
2,600
Cobb
County
Kennestone
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System,
Series
2017A,
5.000%,
4/01/47
4/27
at
100.00
A2
2,645,682
3,575
Crisp
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Crisp
County
Hospital
Project,
Series
2021,
4.000%,
7/01/51
7/31
at
100.00
A1
3,354,494
795
Dalton
Development
Authority,
Georgia,
Revenue
Certificates,
Hamilton
Health
Care
System
Inc.,
Series
1996,
5.500%,
8/15/26
-
NPFG
Insured
No
Opt.
Call
Baa2
822,443
2,000
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A,
4.000%,
7/01/49
7/29
at
100.00
A1
1,886,780
3,500
Georgia
Ports
Authority,
Revenue
Bonds,
Series
2021,
4.000%,
7/01/51
7/31
at
100.00
AA
3,405,675
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A:
1,460
5.000%,
5/15/43
5/29
at
100.00
A3
1,466,775
23,000
5.000%,
5/15/49
No
Opt.
Call
A3
23,271,170
3,265
Metropolitan
Atlanta
Rapid
Transit
Authority,
Georgia,
Sales
Tax
Revenue
Bonds,
Third
Indenture,
Series
2015B,
5.000%,
7/01/41
7/26
at
100.00
Aa2
3,416,496
10,260
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A,
5.000%,
7/01/60
7/25
at
100.00
BBB+
10,292,524
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
$
10,030
Paulding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
WellStar
Health
System
Inc.,
Series
2022A,
5.000%,
4/01/43
4/32
at
100.00
A2
$
10,432,103
5,000
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Emory
University,
Refunding
Series
2016A,
5.000%,
10/01/46
10/26
at
100.00
AA
5,165,950
1,000
Rockdale
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A,
4.000%,
7/01/44
7/29
at
100.00
A1
968,140
Total
Georgia
68,998,646
Guam
-
0.7%
(0.5%
of
Total
Investments)
2,000
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D,
5.000%,
11/15/34
11/25
at
100.00
BB
2,028,340
Guam
A.B.
Won
Pat International
Airport
Authority,
Revenue
Bonds,
Series
2013C:
60
6.375%,
10/01/43,
(AMT)
10/23
at
100.00
Baa2
60,668
65
6.375%,
10/01/43,
(Pre-refunded
10/01/23),
(AMT)
10/23
at
100.00
Baa2 (4)
65,724
Guam
Economic
Development
&
Commerce
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A:
1,815
5.250%,
6/01/32
5/23
at
100.00
N/R
1,746,302
2,915
5.625%,
6/01/47
5/23
at
100.00
N/R
2,693,110
1,300
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Series
2014A,
5.000%,
7/01/35
7/24
at
100.00
Baa2
1,314,248
3,250
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
Baa2 (4)
3,261,083
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2016:
245
5.000%,
7/01/27
7/26
at
100.00
Baa2
254,249
1,240
5.000%,
1/01/46
7/26
at
100.00
Baa2
1,257,397
1,000
Guam
Government
Waterworks
Authority,
Water
and
Wastewater
System
Revenue
Bonds,
Series
2020A,
5.000%,
1/01/50
7/30
at
100.00
Baa2
1,013,480
Guam
Government,
Limited
Obligation
Section
30
Revenue
Bonds,
Series
2016A:
1,000
5.000%,
12/01/23
No
Opt.
Call
BB
1,004,400
2,000
5.000%,
12/01/33
12/26
at
100.00
BB
2,071,660
2,260
5.000%,
12/01/34
12/26
at
100.00
BB
2,332,524
1,175
5.000%,
12/01/46
12/26
at
100.00
BB
1,157,833
Guam
Port
Authority,
Port
Revenue
Bonds,
Private
Activity
Series
2018B:
510
5.000%,
7/01/32,
(AMT)
7/28
at
100.00
Baa2
547,062
355
5.000%,
7/01/33,
(AMT)
7/28
at
100.00
Baa2
380,723
Guam
Power
Authority,
Revenue
Bonds,
Series
2014A:
600
5.000%,
10/01/39
10/24
at
100.00
BBB
615,378
575
5.000%,
10/01/44
10/24
at
100.00
BBB
588,702
Total
Guam
22,392,883
Hawaii
-
1.6%
(1.0%
of
Total
Investments)
13,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
Health
Obligated
Group,
Series
2013A,
5.500%,
7/01/43
7/23
at
100.00
A1
13,019,500
6,000
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaiian
Electric
Company,
Inc.
and
Subsidiary
Projects,
Refunding
Series
2017B,
4.000%,
3/01/37,
(AMT)
3/27
at
100.00
Baa1
5,764,500
7,500
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2015A,
5.000%,
7/01/45,
(AMT)
7/25
at
100.00
A1
7,571,700
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Hawaii
(continued)
$
10,000
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2018A,
5.000%,
7/01/43,
(AMT)
7/28
at
100.00
A1
$
10,348,700
6,000
Hawaii
State,
Airport
System
Revenue
Bonds,
Series
2022,
5.000%,
7/01/38,
(AMT)
7/32
at
100.00
A1
6,502,500
5,000
Hawaii
State,
General
Obligation
Bonds,
Series
2017FK,
4.000%,
5/01/35
5/27
at
100.00
Aa2
5,147,850
Total
Hawaii
48,354,750
Idaho
-
1.0%
(0.6%
of
Total
Investments)
9,495
Boise
City
Water
Renewal
System,
Idaho,
Revenue
Bonds,
Refunding
Series
2022,
5.000%,
9/01/47
9/32
at
100.00
Aa2
10,465,579
11,205
Idaho
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
CHE
Trinity
Helath
Group,
Series
2017ID,
5.000%,
12/01/46
6/27
at
100.00
AA-
11,446,020
1,700
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Madison
Memorial
Hospital
Project,
Refunding
Series
2016,
5.000%,
9/01/29
9/26
at
100.00
BB+
1,740,426
5,585
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2021A,
4.000%,
3/01/46
3/32
at
100.00
A3
5,133,899
Idaho
Water
Resource
Board,
Water
Resource
Loan
Program
Revenue,
Ground
Water
Rights
Mitigation
Series
2012A:
1,155
4.750%,
9/01/26
5/23
at
100.00
A3
1,155,508
310
5.000%,
9/01/32
5/23
at
100.00
A3
310,180
Total
Idaho
30,251,612
Illinois
-
14.9%
(9.1%
of
Total
Investments)
6,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
6.000%,
4/01/46
4/27
at
100.00
A
6,308,400
9,250
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A,
7.000%,
12/01/44
12/25
at
100.00
BB+
9,753,570
2,400
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
BB+
2,522,616
11,295
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A,
7.000%,
12/01/46,
144A
12/27
at
100.00
BB+
12,250,218
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1998B-1:
10,130
0.000%,
12/01/24
-
FGIC
Insured
No
Opt.
Call
BB+
9,521,896
7,140
0.000%,
12/01/25
-
FGIC
Insured
No
Opt.
Call
BB+
6,471,625
4,325
0.000%,
12/01/29
-
FGIC
Insured
No
Opt.
Call
BB+
3,351,140
4,235
0.000%,
12/01/31
-
FGIC
Insured
No
Opt.
Call
BB+
2,993,975
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1999A:
10,000
0.000%,
12/01/23
-
FGIC
Insured
No
Opt.
Call
BB+
9,768,300
8,845
5.500%,
12/01/26
-
NPFG
Insured
No
Opt.
Call
BB+
9,250,543
15,735
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Refunding
Senior
Lien
Series
2018A,
5.000%,
1/01/48
1/29
at
100.00
A+
16,157,485
6,745
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2015C,
5.000%,
1/01/46
1/25
at
100.00
A+
6,770,429
3,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2017D,
5.000%,
1/01/47
1/27
at
100.00
A+
3,042,450
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2022A:
5,000
5.500%,
1/01/53
-
AGM
Insured
1/31
at
100.00
A+
5,414,900
8,010
5.500%,
1/01/55
1/32
at
100.00
A+
8,644,232
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999:
$
4,115
0.000%,
1/01/33
-
FGIC
Insured
No
Opt.
Call
Baa2
$
2,743,429
29,600
0.000%,
1/01/38
-
FGIC
Insured
No
Opt.
Call
Baa2
14,778,392
11,675
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
6.000%,
1/01/38
1/27
at
100.00
BBB
12,433,992
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A:
4,000
5.000%,
1/01/40
1/29
at
100.00
BBB
4,082,440
7,445
5.500%,
1/01/49
1/29
at
100.00
BBB
7,760,072
6,290
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Series
2001A,
5.500%,
1/01/30
-
NPFG
Insured
No
Opt.
Call
Baa2
6,837,293
1,460
Chicago,
Illinois,
Water
Revenue
Bonds,
Senior
Lien
Series
2001,
5.750%,
11/01/30
-
AMBAC
Insured
No
Opt.
Call
Baa1
1,584,815
4,500
Cook
County
Community
College
District
508,
Illinois,
General
Obligation
Bonds,
Chicago
City
Colleges,
Series
2017,
5.000%,
12/01/47
12/27
at
100.00
A+
4,685,670
3,000
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016A,
5.000%,
11/15/31
11/26
at
100.00
A2
3,188,010
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2018:
500
5.000%,
11/15/34
11/26
at
100.00
A2
518,095
4,550
5.000%,
11/15/35
11/26
at
100.00
A2
4,707,066
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT:
5,000
4.450%,
11/01/36
11/25
at
102.00
A2
5,160,300
815
4.500%,
11/01/36
11/24
at
100.00
A
824,527
2,785
5.500%,
11/01/36
11/23
at
100.00
A
2,817,501
410
Illinois
Finance
Authority,
Charter
School
Revenue
Bonds,
Intrinsic
Charter
Schools
Belmont
School
Project,
Series
2015A,
6.000%,
12/01/45,
144A
12/25
at
100.00
N/R
420,886
Illinois
Finance
Authority,
Revenue
Bonds,
Advocate
Health
Care
Network,
Refunding
Series
2015:
12,025
5.000%,
5/01/45,
(Pre-refunded
5/01/25),
(UB)
5/25
at
100.00
Aa3 (4)
12,523,075
1,930
5.000%,
5/01/45,
(UB)
5/25
at
100.00
N/R
2,004,228
2,000
Illinois
Finance
Authority,
Revenue
Bonds,
Art
Institute
of
Chicago,
Series
2016,
4.000%,
3/01/38
3/26
at
100.00
Aa3
2,001,260
2,500
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
5.000%,
2/15/33
2/27
at
100.00
Aa2
2,683,875
3,300
Illinois
Finance
Authority,
Revenue
Bonds,
Bradley
University,
Refunding
Series
2021A,
4.000%,
8/01/46
8/31
at
100.00
BBB+
2,838,198
Illinois
Finance
Authority,
Revenue
Bonds,
Centegra
Health
System,
Series
2014A:
4,750
5.000%,
9/01/39,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R (4)
4,868,988
6,000
5.000%,
9/01/42,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R (4)
6,150,300
10,745
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A,
5.000%,
11/15/45
11/25
at
100.00
A
10,854,706
Illinois
Finance
Authority,
Revenue
Bonds,
Rehabilitation
Institute
of
Chicago,
Series
2013A:
415
5.500%,
7/01/28
7/23
at
100.00
A
416,448
390
6.000%,
7/01/43
7/23
at
100.00
A
391,662
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C:
560
5.000%,
8/15/35
8/25
at
100.00
A3
573,933
3,745
5.000%,
8/15/44
8/25
at
100.00
A3
3,752,003
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
10,000
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago
Medicine,
Series
2022A,
5.000%,
8/15/47
8/32
at
100.00
AA-
$
10,701,300
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Refunding
Series
2015A:
2,670
5.000%,
10/01/46,
(Pre-refunded
10/01/25)
10/25
at
100.00
N/R (4)
2,806,117
330
5.000%,
10/01/46
10/25
at
100.00
AA-
341,121
2,000
Illinois
Health
Facilities
Authority,
Revenue
Bonds,
Midwest
Care
Center
I
Inc.,
Series
2001,
5.950%,
2/20/36
5/23
at
100.00
Aa3
2,001,880
1,830
Illinois
Sports
Facility
Authority,
State
Tax
Supported
Bonds,
Refunding
Series
2014,
5.250%,
6/15/32
-
AGM
Insured
6/24
at
100.00
BB+
1,859,060
450
Illinois
State,
General
Obligation
Bonds,
December
Series
2017A,
5.000%,
12/01/39
12/27
at
100.00
Baa1
466,403
Illinois
State,
General
Obligation
Bonds,
February
Series
2014:
5,705
5.250%,
2/01/33
2/24
at
100.00
Baa1
5,771,748
5,815
5.250%,
2/01/34
2/24
at
100.00
Baa1
5,880,012
2,000
5.000%,
2/01/39
2/24
at
100.00
Baa1
2,009,000
Illinois
State,
General
Obligation
Bonds,
January
Series
2016:
3,500
5.000%,
1/01/29
1/26
at
100.00
Baa1
3,642,135
8,250
5.000%,
1/01/32
1/26
at
100.00
Baa1
8,567,790
4,200
Illinois
State,
General
Obligation
Bonds,
June
Series
2016,
5.000%,
6/01/27
6/26
at
100.00
Baa1
4,405,128
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A:
2,000
5.500%,
3/01/42
3/32
at
100.00
BBB+
2,213,720
785
5.500%,
3/01/47
3/32
at
100.00
Baa1
859,206
16,485
Illinois
State,
General
Obligation
Bonds,
March
Series
2021A,
5.000%,
3/01/46
3/31
at
100.00
BBB+
17,311,393
Illinois
State,
General
Obligation
Bonds,
May
Series
2020:
1,635
5.500%,
5/01/30
No
Opt.
Call
Baa1
1,868,396
5,305
5.500%,
5/01/39
5/30
at
100.00
Baa1
5,810,673
3,000
5.750%,
5/01/45
5/30
at
100.00
BBB+
3,286,890
1,525
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B,
5.500%,
5/01/47
(WI/DD,
Settling
5/10/23)
5/32
at
100.00
BBB+
1,669,463
1,500
Illinois
State,
General
Obligation
Bonds,
November
Series
2016,
5.000%,
11/01/37
11/26
at
100.00
Baa1
1,540,275
3,510
Illinois
State,
General
Obligation
Bonds,
October
Series
2016,
5.000%,
2/01/27
No
Opt.
Call
Baa1
3,719,442
8,865
Illinois
State,
General
Obligation
Bonds,
October
Series
2022C,
5.500%,
10/01/41
10/32
at
100.00
Baa1
9,875,521
Illinois
State,
General
Obligation
Bonds,
Series
2013:
2,500
5.250%,
7/01/31
7/23
at
100.00
Baa1
2,508,925
1,520
5.500%,
7/01/38
7/23
at
100.00
BBB+
1,526,126
1,395
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2013A,
5.000%,
1/01/38
5/23
at
100.00
AA-
1,396,186
4,685
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A,
5.000%,
1/01/40
7/25
at
100.00
AA-
4,799,501
4,435
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015B,
5.000%,
1/01/40
1/26
at
100.00
AA-
4,585,435
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2021A:
7,770
4.000%,
1/01/42
1/32
at
100.00
AA-
7,714,911
10,000
5.000%,
1/01/46
1/32
at
100.00
AA-
10,788,600
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
4,250
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A,
5.000%,
1/01/44
(WI/DD,
Settling
5/18/23)
7/33
at
100.00
Aa3
$
4,679,080
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0052:
1,815
5.791%,
1/01/38,
144A,
(IF)
1/23
at
100.00
AA-
1,821,225
1,875
11.220%,
1/01/38,
144A,
(IF)
1/23
at
100.00
AA-
1,881,413
4,100
Lake
County
School
District
112
North
Shore,
Illinois,
General
Obligation
Bonds,
Series
2022,
4.000%,
12/01/38
12/31
at
100.00
AAA
4,176,506
1,890
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2015B,
5.000%,
6/15/52
12/25
at
100.00
BBB
1,897,711
1,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A,
5.500%,
6/15/53
12/25
at
100.00
BBB
1,016,730
4,780
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB
4,811,787
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Refunding
Series
1996A:
23,575
0.000%,
12/15/23
-
NPFG
Insured
No
Opt.
Call
Baa2
23,010,143
10,775
0.000%,
12/15/24
-
NPFG
Insured
No
Opt.
Call
Baa2
10,138,736
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A:
6,610
0.000%,
12/15/23
No
Opt.
Call
Baa2
6,451,624
155
0.000%,
12/15/23,
(ETM)
No
Opt.
Call
N/R (4)
151,677
5,000
0.000%,
12/15/34
-
NPFG
Insured
No
Opt.
Call
Baa2
3,133,600
1,100
0.000%,
12/15/35
-
NPFG
Insured
No
Opt.
Call
Baa2
651,002
3,805
0.000%,
6/15/41
-
NPFG
Insured
No
Opt.
Call
Baa2
1,643,266
1,560
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Hospitality
Facility,
Series
1996A,
7.000%,
7/01/26,
(ETM)
No
Opt.
Call
AA+ (4)
1,653,600
1,350
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Refunding
Series
2020B,
4.000%,
4/01/41
-
BAM
Insured
4/30
at
100.00
Ba1
1,259,928
1,240
Regional
Transportation
Authority,
Cook,
DuPage,
Kane,
Lake,
McHenry
and
Will
Counties,
Illinois,
General
Obligation
Bonds,
Series
1999,
5.750%,
6/01/23
-
AGM
Insured
No
Opt.
Call
Aa3
1,242,046
2,500
Sangamon
County
Water
Reclamation
District,
Illinois,
General
Obligation
Bonds
Alternate
Revenue
Source,
Project
&
Refunding
Series
2019A,
4.000%,
1/01/44
-
BAM
Insured
1/29
at
100.00
AA
2,474,200
Springfield,
Illinois,
Electric
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015:
2,250
5.000%,
3/01/29
3/25
at
100.00
A3
2,306,385
3,505
5.000%,
3/01/40
-
AGM
Insured
3/25
at
100.00
A1
3,592,835
University
of
Illinois,
Health
Services
Facilities
System
Revenue
Bonds,
Series
2013:
1,580
6.000%,
10/01/32
10/23
at
100.00
A-
1,601,677
9,625
6.250%,
10/01/38
10/23
at
100.00
A-
9,752,050
2,845
6.000%,
10/01/42
10/23
at
100.00
A-
2,878,372
Total
Illinois
455,974,893
Indiana
-
1.1%
(0.7%
of
Total
Investments)
1,480
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A,
5.875%,
6/01/55,
144A
6/30
at
100.00
N/R
1,279,075
7,480
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Refunding
2015A,
5.000%,
12/01/40
6/25
at
100.00
AA
7,647,178
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Indiana
(continued)
Indiana
Finance
Authority,
Private
Activity
Bonds,
Ohio
River
Bridges
East
End
Crossing
Project,
Series
2013A:
$
3,015
5.000%,
7/01/44,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R (4)
$
3,022,598
1,420
5.000%,
7/01/48,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R (4)
1,423,578
1,500
Indiana
Finance
Authority,
Provate
Activity
Bonds,
Ohio
River
Bridges
East
End
Crossing
Project,
Series
2013B,
5.000%,
7/01/40,
(Pre-
refunded
7/01/23),
(AMT)
7/23
at
100.00
N/R (4)
1,503,780
5,115
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
First
Lien
Green
Series
2016A,
5.000%,
10/01/41
10/26
at
100.00
A+
5,349,625
4,500
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2012A,
4.000%,
10/01/42
5/23
at
100.00
Aa3
4,480,065
4,375
Indiana
Municipal
Power
Agency
Power
Supply
System
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
1/01/42
7/26
at
100.00
A+
4,526,944
3,985
Valparaiso,
Indiana,
Exempt
Facilitiies
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Series
2013,
7.000%,
1/01/44,
(AMT)
1/24
at
100.00
N/R
4,063,305
Total
Indiana
33,296,148
Iowa
-
0.7%
(0.4%
of
Total
Investments)
2,550
Iowa
Finance
Authority
Senior
Living
Facilities
Revenue
Bonds,
Sunrise
Retirement
Community
Project,
Refunding
Series
2021,
5.000%,
9/01/41
9/28
at
102.00
N/R
2,054,611
1,505
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012,
4.750%,
8/01/42
5/23
at
100.00
BB+
1,451,512
9,535
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50
12/29
at
103.00
BBB-
9,478,076
6,235
Iowa
State,
Hospital
Revenue
Bonds,
University
of
Iowa
Hospitals
and
Clinics,
SUI
Series
2022A,
4.000%,
9/01/36
9/32
at
100.00
AA
6,451,729
5,290
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Class
2
Capital
Appreciation
Senior
Lien
Series
2021B-2,
0.000%,
6/01/65
6/31
at
25.58
N/R
617,449
Total
Iowa
20,053,377
Kansas
-
0.4%
(0.2%
of
Total
Investments)
6,770
Lawrence,
Kansas,
Hospital
Revenue
Bonds,
Lawrence
Memorial
Hospital,
Series
2018A,
5.000%,
7/01/43
7/28
at
100.00
A-
6,930,381
3,625
Wyandotte
County
Unified
School
District
203,
Piper,
Kansas,
General
Obligation
Bonds,
Improvement
and
Refunding
Series
2022A,
5.250%,
9/01/52
-
AGM
Insured
9/32
at
100.00
AA
4,011,353
Total
Kansas
10,941,734
Kentucky
-
0.7%
(0.4%
of
Total
Investments)
2,730
Kentucky
Economic
Development
Finance
Authority,
Revenue
Bonds,
Next
Generation
Kentucky
Information
Highway
Project,
Senior
Series
2015A,
5.000%,
1/01/45
7/25
at
100.00
Baa2
2,702,072
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C:
4,790
0.000%,
7/01/43
(7)
7/31
at
100.00
Baa2
5,431,238
3,655
0.000%,
7/01/46
(7)
7/31
at
100.00
Baa2
4,151,495
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
First
Tier
Series
2013A:
8,360
5.750%,
7/01/49,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2 (4)
8,385,582
585
6.000%,
7/01/53,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2 (4)
587,006
Total
Kentucky
21,257,393
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Louisiana
-
3.1%
(1.9%
of
Total
Investments)
$
4,200
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.000%,
7/01/36
7/23
at
100.00
N/R
$
4,204,872
2,665
East
Baton
Rouge
Sewerage
Commission,
Louisiana,
Revenue
Bonds,
Refunding
Series
2014B,
5.000%,
2/01/39,
(Pre-refunded
2/01/25)
2/25
at
100.00
AA- (4)
2,762,992
3,130
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
A1
3,278,174
Lafayette
Parish
School
Board,
Louisiana,
Sales
Tax
Revenue
Bonds,
Series
2018:
1,500
4.000%,
4/01/40
4/27
at
100.00
AA+
1,506,435
4,685
4.000%,
4/01/43
4/27
at
100.00
AA+
4,627,984
4,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Womans
Hospital
Foundation
Project,
Refunding
Series
2017A,
5.000%,
10/01/41
10/27
at
100.00
A
4,118,120
5,200
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Revenue
Bonds,
East
Baton
Rouge
Sewerage
Commission
Projects,
Subordinate
Lien
Series
2014A,
5.000%,
2/01/44,
(Pre-refunded
2/01/24)
2/24
at
100.00
A+ (4)
5,264,948
7,130
Louisiana
Public
Facilities
Authority,
Dock
and
Wharf
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.500%,
7/01/36,
(AMT),
144A
7/23
at
100.00
N/R
7,145,116
1,265
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
and
Refunding
Bonds,
Lafayette
General
Medical
Center
Project,
Series
2016A,
5.000%,
11/01/45,
(Pre-refunded
11/01/25)
11/25
at
100.00
N/R (4)
1,330,805
8,090
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017,
5.000%,
5/15/46
5/27
at
100.00
A3
8,247,431
10,800
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2020A,
4.000%,
5/15/49
5/30
at
100.00
A3
10,206,648
1,830
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016,
4.000%,
5/15/35
5/26
at
100.00
A3
1,852,308
330
Louisiana
Stadium
and
Exposition
District,
Revenue
Refunding
Bonds,
Senior
Lien
Series
2013A,
5.000%,
7/01/36
7/23
at
100.00
A2
330,165
14,000
Louisiana
State,
Gasoline
and
Fuels
Tax
Revenue
Bonds,
Refunding
Series
2015A,
4.000%,
5/01/41,
(Pre-refunded
5/01/25)
5/25
at
100.00
AA- (4)
14,378,560
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2015B:
6,235
5.000%,
1/01/40,
(AMT)
1/25
at
100.00
A
6,279,081
6,895
5.000%,
1/01/45,
(AMT)
1/25
at
100.00
A
6,918,719
5,350
New
Orleans,
Louisiana,
Sewerage
Service
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
6/01/44,
(Pre-refunded
6/01/24)
6/24
at
100.00
A (4)
5,455,021
1,200
New
Orleans,
Louisiana,
Water
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
12/01/44,
(Pre-refunded
12/01/24)
12/24
at
100.00
A- (4)
1,237,020
5,655
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
12/01/40
12/25
at
100.00
Baa1
5,851,794
Total
Louisiana
94,996,193
Maine
-
0.5%
(0.3%
of
Total
Investments)
2,775
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2013,
5.000%,
7/01/33,
(Pre-refunded
7/01/23)
7/23
at
100.00
Ba1 (4)
2,782,215
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maine
(continued)
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A:
$
3,820
4.000%,
7/01/41
7/26
at
100.00
Ba1
$
3,439,108
2,800
4.000%,
7/01/46
7/26
at
100.00
Ba1
2,390,444
2,935
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
MaineHealth
Issue,
Series
2018A,
5.000%,
7/01/48
7/28
at
100.00
A+
3,017,151
2,000
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Bates
College,
Series
2013,
5.000%,
7/01/43
7/23
at
100.00
A+
2,005,380
Maine
Turnpike
Authority,
Special
Obligation
Bonds,
Series
2014:
1,290
5.000%,
7/01/33
7/24
at
100.00
A-
1,315,206
1,020
5.000%,
7/01/34
7/24
at
100.00
A-
1,040,400
Total
Maine
15,989,904
Maryland
-
9.5%
(5.8%
of
Total
Investments)
1,830
Anne
Arundel
County,
Maryland,
FNMA
Multifamily
Housing
Revenue
Bonds,
Glenview
Gardens
Apartments
Project,
Series
2009,
5.000%,
1/01/28,
(Mandatory
Put
1/01/27)
5/23
at
100.00
AA+
1,832,782
1,200
Anne
Arundel
County,
Maryland,
Special
Tax
District
Revenue
Bonds,
Villages
of
Dorchester
&
Farmington
Village
Projects,
Series
2013,
5.000%,
7/01/32
7/23
at
100.00
AA
1,203,744
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2016:
1,000
3.625%,
1/01/37
1/26
at
100.00
A
921,960
2,220
5.000%,
1/01/37
1/26
at
100.00
A
2,276,011
2,500
Baltimore
County,
Maryland,
Revenue
Bonds,
Oak
Crest
Village,
Series
2020,
4.000%,
1/01/50
1/27
at
103.00
A
2,145,525
635
Baltimore
County,
Maryland,
Revenue
Bonds,
Riderwood
Village
Inc
Facility,
Series
2020,
4.000%,
1/01/50
1/27
at
103.00
A
544,963
9,215
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017,
5.000%,
9/01/42
9/27
at
100.00
CCC+
8,880,588
2,480
Baltimore,
Maryland,
Project
and
Revenue
Refunding
Bonds,
Water
Projects,
Series
2013B,
5.000%,
7/01/38,
(Pre-refunded
1/01/24)
1/24
at
100.00
AA- (4)
2,510,678
5,000
Baltimore,
Maryland,
Revenue
Bonds,
Wastewater
Projects,
Subordinate
Series
2014C,
5.000%,
7/01/44
1/25
at
100.00
A+
5,098,900
2,000
Baltimore,
Maryland,
Revenue
Bonds,
Wastewater
Projects,
Subordinate
Series
2017A,
5.000%,
7/01/46
1/27
at
100.00
A+
2,079,380
2,000
Baltimore,
Maryland,
Revenue
Bonds,
Wastewater
Projects,
Subordinate
Series
2017A,
5.000%,
7/01/46,
(UB)
1/27
at
100.00
A+
2,079,380
1,220
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Refunding
Series
1994A,
5.000%,
7/01/24
-
FGIC
Insured,
(ETM)
No
Opt.
Call
AA- (4)
1,228,869
2,050
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Refunding
Series
1998A,
5.000%,
7/01/28
-
FGIC
Insured,
(ETM)
8/21
at
100.00
N/R (4)
2,152,623
2,500
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Subordinate
Series
2014A,
5.000%,
7/01/44
1/25
at
100.00
A+
2,549,450
6,000
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Subordinate
Series
2017A,
5.000%,
7/01/41,
(UB)
1/27
at
100.00
A+
6,286,080
1,450
Baltimore,
Maryland,
Special
Obligation
Bonds,
Center/West
Development
Project,
Series
2017A,
5.500%,
6/01/43
6/26
at
100.00
N/R
1,464,529
Baltimore,
Maryland,
Special
Obligation
Bonds,
Consolidated
Tax
Increment
Financing,
Series
2015:
525
5.000%,
6/15/30
6/24
at
100.00
BBB+
535,794
425
5.000%,
6/15/33
6/24
at
100.00
BBB+
433,555
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Baltimore,
Maryland,
Special
Obligation
Bonds,
East
Baltimore
Research
Park
Project,
Series
2017A:
$
1,270
4.500%,
9/01/33
9/27
at
100.00
N/R
$
1,250,861
240
5.000%,
9/01/38
9/27
at
100.00
N/R
241,829
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2016:
1,895
5.000%,
6/01/36
6/26
at
100.00
N/R
1,907,659
250
5.125%,
6/01/43
6/26
at
100.00
N/R
250,417
2,000
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2019A,
3.625%,
6/01/46,
144A
6/29
at
100.00
N/R
1,568,560
350
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2019B,
3.875%,
6/01/46,
144A
6/23
at
100.00
N/R
281,096
Brunswick,
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Brunswick
Crossing
Special
Taxing
District,
Refunding
Series
2019:
450
4.000%,
7/01/29
1/29
at
100.00
N/R
440,114
739
5.000%,
7/01/36
1/29
at
100.00
N/R
748,422
Frederick
County,
Maryland,
Educational
Facilities
Revenue
Bonds,
Mount
Saint
Mary's
University
Inc.,
Series
2017A:
3,000
5.000%,
9/01/37,
144A
9/27
at
100.00
BB+
2,858,070
1,750
5.000%,
9/01/45,
144A
9/27
at
100.00
BB+
1,581,877
374
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Lake
Linganore
Village
Community
Development
Series
2001A,
5.700%,
7/01/29
-
RAAI
Insured
5/23
at
100.00
AA
374,759
1,250
Frederick
County,
Maryland,
Special
Obligation
Bonds,
Urbana
Community
Development
Authority,
Refunding
Series
2020A,
4.000%,
7/01/35
7/30
at
100.00
A-
1,286,737
370
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
B
Limited
Obligation
Bonds,
Oakdale-Lake
Linganore
Project,
Series
2019,
3.750%,
7/01/39
7/29
at
100.00
N/R
324,849
120
Frederick
County,
Maryland,
Tax
Increment
and
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020B,
4.625%,
7/01/43,
144A
7/30
at
102.00
N/R
116,983
3,000
Gaithersburg,
Maryland,
Economic
Development
Revenue
Bonds,
Asbury
Methodist
Obligated
Group
Project,
Refunding
Series
2018A,
5.000%,
1/01/36
1/24
at
104.00
BBB
2,901,390
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Columbia
Commons
Apartments,
Series
2014A:
1,500
4.000%,
6/01/34
6/24
at
100.00
A+
1,513,425
1,550
5.000%,
6/01/44
6/24
at
100.00
A+
1,564,059
1,860
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Gateway
Village
Apartments,
Series
2016,
4.000%,
6/01/46
6/26
at
100.00
A+
1,756,138
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
The
Verona
at
Oakland
Mills
Project,
Series
2013:
2,000
4.625%,
10/01/28
10/23
at
100.00
A+
2,013,500
3,000
5.000%,
10/01/28
10/23
at
100.00
A+
3,025,470
1,000
Howard
County
Housing
Commission,
Maryland,
Revenue
Bonds,
Woodfield
Oxford
Square
Apartments,
Series
2017,
5.000%,
12/01/42
12/27
at
100.00
A+
1,049,050
1,290
Howard
County,
Maryland,
Retirement
Community
Revenue
Bonds,
Vantage
House,
Refunding
Series
2016,
5.000%,
4/01/46
4/27
at
100.00
N/R
1,049,118
1,710
Howard
County,
Maryland,
Retirement
Community
Revenue
Bonds,
Vantage
House,
Refunding
Series
2017,
5.000%,
4/01/36
4/27
at
100.00
N/R
1,532,177
1,420
Howard
County,
Maryland,
Special
Obligation
Bonds,
Annapolis
Junction
Town
Center
Project,
Series
2014,
6.100%,
2/15/44
2/24
at
100.00
N/R
1,375,980
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Howard
County,
Maryland,
Special
Obligation
Bonds,
Downtown
Columbia
Project,
Series
2017A:
$
1,500
4.125%,
2/15/34,
144A
2/26
at
100.00
N/R
$
1,428,795
1,550
4.375%,
2/15/39,
144A
2/26
at
100.00
N/R
1,462,921
850
4.500%,
2/15/47,
144A
2/26
at
100.00
N/R
772,497
Hyattsville,
Maryland,
Special
Obligation
Bonds,
University
Town
Center
Project,
Series
2016:
2,125
5.000%,
7/01/31
7/25
at
100.00
N/R
2,104,515
1,640
5.000%,
7/01/34
7/25
at
100.00
N/R
1,587,930
1,220
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2000A,
2.800%,
7/01/45
7/29
at
100.00
Aa2
905,935
1,195
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2014D,
3.900%,
7/01/40
1/24
at
100.00
Aa2
1,184,615
680
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2017C,
3.550%,
7/01/42
1/27
at
100.00
Aa2
650,570
700
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Housing
Revenue
Bonds,
Series
2020E,
2.350%,
7/01/45
1/30
at
100.00
Aa2
476,630
1,445
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2019C,
3.000%,
3/01/42
3/29
at
100.00
Aa1
1,237,512
2,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2020D,
2.100%,
9/01/40
9/29
at
100.00
Aa1
1,442,260
2,570
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Series
2021A,
2.000%,
9/01/43
3/30
at
100.00
Aa1
1,657,547
2,000
Maryland
Community
Development
Administration
Department
of
Housing
and
Community
Development,
Residential
Revenue
Bonds,
Taxable
Series
2019D,
3.350%,
7/01/49
7/29
at
100.00
Aa2
1,718,820
1,000
Maryland
Community
Development
Administration,
Department
of
Housing
and
Community
Development,
Multifamily
Development
Revenue
Bonds,
Marlborough
Apartments,
Series
2014I,
3.450%,
12/15/31
12/24
at
100.00
Aaa
1,003,520
720
Maryland
Community
Development
Administration,
Local
Government
Infrastructure
Bonds,
Subordinate
Obligation
Series
2019B-2,
4.000%,
6/01/49
6/29
at
100.00
Aa3
692,352
600
Maryland
Economic
Development
Corporation
Economic
Development
Revenue
Bonds,
Terminal
Project, Series
2019A,
5.000%,
6/01/49,
(AMT)
6/29
at
100.00
Baa2
614,028
Maryland
Economic
Development
Corporation
Economic
Development
Revenue
Bonds,
Transportation
Facilities
Project,
Refunding
Series
2017A:
1,000
5.000%,
6/01/31
6/28
at
100.00
Baa2
1,067,000
1,125
5.000%,
6/01/32
6/28
at
100.00
Baa2
1,199,160
3,360
5.000%,
6/01/35
6/28
at
100.00
Baa2
3,546,346
1,600
Maryland
Economic
Development
Corporation,
Air
Cargo
Obligated
Group
Revenue
Bonds,
AFCO
Airport
Real
Estate
Group,
Series
2019,
4.000%,
7/01/39,
(AMT)
7/29
at
100.00
BBB
1,472,304
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Maryland
Economic
Development
Corporation,
Parking
Facilities
Revenue
Bonds
Baltimore
City
Project,
Subordinate
Parking
Facilities
Revenue
Bonds,
Series
2018C:
$
1,250
4.000%,
6/01/48
6/28
at
100.00
BB+
$
949,075
1,080
4.000%,
6/01/58
6/28
at
100.00
BB+
772,481
3,725
Maryland
Economic
Development
Corporation,
Parking
Facilities
Revenue
Bonds,
Baltimore
City
Project,
Senior
Parking
Facilities
Revenue
Bonds,
Series
2018A,
5.000%,
6/01/58
6/28
at
100.00
BBB-
3,469,353
5,810
Maryland
Economic
Development
Corporation,
Port
Facilities
Revenue
Bonds,
CNX
Marine
Terminals
Inc.
Port
of
Baltimore
Facility,
Refunding
Series
2010,
5.750%,
9/01/25
5/23
at
100.00
BB
5,860,896
2,000
Maryland
Economic
Development
Corporation,
Revenue
Bonds,
Chesapeake
Bay
Hyatt
Conference
Center,
Series
2006A,
5.000%,
12/01/31
(5)
5/23
at
100.00
N/R
1,200,000
Maryland
Economic
Development
Corporation,
Senior
Student
Housing
Revenue
Bonds,
Towson
University
Project,
Refunding
Series
2017:
1,100
5.000%,
7/01/36
7/27
at
100.00
BB+
1,104,433
470
5.000%,
7/01/37
5/23
at
100.00
BB+
469,991
Maryland
Economic
Development
Corporation,
Special
Obligation
Bonds,
Metro
Centre
Owings
Mills
Project,
Series
2017:
585
4.375%,
7/01/36
1/27
at
100.00
N/R
551,953
355
4.500%,
7/01/44
1/27
at
100.00
N/R
325,500
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
Salisbury
University
Project,
Refunding
Series
2013:
500
5.000%,
6/01/27
6/23
at
100.00
Baa3
500,150
500
5.000%,
6/01/34
6/23
at
100.00
Baa3
499,955
1,510
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
Sheppard
Pratt
University
Village,
Series
2012,
5.000%,
7/01/33
5/23
at
100.00
BBB-
1,510,060
495
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland
-
Baltimore
Project,
Refunding
Senior
Lien
Series
2015,
5.000%,
7/01/39
7/25
at
100.00
BB+
495,366
1,110
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland,
Baltimore
County
Project,
Refunding
Series
2016,
3.600%,
7/01/35
-
AGM
Insured
5/23
at
100.00
A1
1,110,089
Maryland
Economic
Development
Corporation,
Student
Housing
Revenue
Bonds,
University
of
Maryland,
College
Park
Project,
Refunding
Series
2016:
875
5.000%,
6/01/30
-
AGM
Insured
6/26
at
100.00
A1
923,361
240
5.000%,
6/01/31
-
AGM
Insured
6/26
at
100.00
A1
253,246
2,405
5.000%,
6/01/35
-
AGM
Insured
6/26
at
100.00
A1
2,522,388
780
5.000%,
6/01/43
-
AGM
Insured
6/26
at
100.00
A1
801,239
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Maryland,
Revenue
Bonds,
Meritus
Medical
Center,
Series
2015:
990
4.000%,
7/01/32
7/25
at
100.00
BBB+
995,247
2,470
4.250%,
7/01/35
7/25
at
100.00
BBB+
2,474,866
1,740
5.000%,
7/01/45
7/25
at
100.00
BBB+
1,760,219
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Parking
Facilities
Revenue
Bonds,
Johns
Hopkins
Hospital,
Series
2001:
1,300
5.000%,
7/01/27
-
AMBAC
Insured
5/23
at
100.00
N/R
1,308,918
1,000
5.000%,
7/01/34
-
AMBAC
Insured
5/23
at
100.00
N/R
1,006,920
270
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Parking
Facilities
Revenue
Bonds,
Johns
Hopkins
Medical
Institutions,
Series
1996,
5.500%,
7/01/26
-
AMBAC
Insured
5/23
at
100.00
N/R
271,852
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds
Doctors
Community
Hospital,
Series
2017B:
$
250
5.000%,
7/01/34
7/27
at
100.00
A3
$
261,453
4,820
5.000%,
7/01/38
7/27
at
100.00
A3
4,922,521
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds, Mercy
Medical
Center,
Series
2016A:
90
5.000%,
7/01/36
7/26
at
100.00
BBB+
92,759
1,450
5.000%,
7/01/38
7/26
at
100.00
BBB+
1,479,493
600
4.000%,
7/01/42
7/26
at
100.00
BBB+
543,870
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Adventist
Healthcare,
Series
2016A:
1,400
5.500%,
1/01/36
1/27
at
100.00
Baa3
1,449,252
4,020
5.500%,
1/01/46
1/27
at
100.00
Baa3
4,073,225
2,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Calvert
Health
System
Issue,
Refunding
Series
2013,
5.000%,
7/01/38,
(Pre-refunded
7/01/23)
7/23
at
100.00
N/R (4)
2,004,540
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Charlestown
Community
Issue,
Series
2016A:
2,125
5.000%,
1/01/36
7/26
at
100.00
A-
2,209,447
4,090
5.000%,
1/01/45
7/26
at
100.00
A-
4,172,618
Maryland
Health
and
HIgher
Educational
Facilities
Authority,
Revenue
Bonds,
Frederick
Health
System
Issue;
Series
2020:
1,000
3.250%,
7/01/39
7/30
at
100.00
Baa1
827,180
100
4.000%,
7/01/40
7/30
at
100.00
Baa1
94,864
280
4.000%,
7/01/45
7/30
at
100.00
Baa1
258,334
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Goucher
College,
Series
2017A:
1,100
5.000%,
7/01/37
7/27
at
100.00
BBB+
1,145,452
1,200
5.000%,
7/01/44
7/27
at
100.00
BBB+
1,236,300
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Green
Street
Academy,
Series
2017A:
265
5.125%,
7/01/37,
144A
7/27
at
100.00
N/R
254,032
500
5.250%,
7/01/47,
144A
7/27
at
100.00
N/R
460,195
2,130
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Helix
Health,
Series
1997,
5.000%,
7/01/27
-
AMBAC
Insured,
(ETM)
8/21
at
100.00
N/R (4)
2,226,191
2,500
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Johns
Hopkins
Health
System
Issue,
Series
2015A,
4.000%,
5/15/40
5/25
at
100.00
AA-
2,506,275
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Johns
Hopkins
University,
Series
2013B:
500
5.000%,
7/01/38
7/23
at
100.00
AA
500,345
4,375
4.250%,
7/01/41
7/23
at
100.00
AA
4,377,450
2,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
Issue,
Series
2016,
5.000%,
7/01/47
7/26
at
100.00
A+
2,029,980
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
Issue,
Series
2017:
1,000
5.000%,
7/01/33
7/27
at
100.00
A+
1,070,620
1,000
5.000%,
7/01/44
7/27
at
100.00
A+
1,026,790
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
LifeBridge
Health
System,
Series
2015:
1,500
4.000%,
7/01/35,
(Pre-refunded
7/01/25)
7/25
at
100.00
A+ (4)
1,539,810
1,125
5.000%,
7/01/40,
(Pre-refunded
7/01/25)
7/25
at
100.00
A+ (4)
1,178,336
2,975
4.125%,
7/01/47
7/25
at
100.00
A+
2,839,310
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Loyola
University
Maryland,
Series
2014:
$
1,000
4.000%,
10/01/45
10/24
at
100.00
A
$
962,940
1,250
5.000%,
10/01/45
10/24
at
100.00
A
1,268,900
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2012:
1,500
5.000%,
6/01/34
5/23
at
100.00
Baa1
1,501,140
3,000
5.000%,
6/01/47
5/23
at
100.00
Baa1
3,000,930
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2016:
175
5.000%,
6/01/36
6/26
at
100.00
Baa1
181,214
2,500
4.000%,
6/01/42
6/26
at
100.00
Baa1
2,368,075
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Maryland
Institute
College
of
Art,
Series
2017:
525
5.000%,
6/01/35
6/26
at
100.00
Baa1
545,942
1,000
5.000%,
6/01/42
6/26
at
100.00
Baa1
1,024,550
2,500
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MedStar
Health
Issue,
Series
2015,
5.000%,
8/15/38
2/25
at
100.00
A
2,543,250
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Peninsula
Regional
Medical
Center
Issue,
Refunding
Series
2015:
2,790
5.000%,
7/01/39,
(Pre-refunded
7/01/24)
7/24
at
100.00
Baa1 (4)
2,844,851
5,500
5.000%,
7/01/45,
(Pre-refunded
7/01/24)
7/24
at
100.00
Baa1 (4)
5,608,130
865
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Stevenson
University,
Series
2021A,
4.000%,
6/01/41
6/31
at
100.00
BBB-
812,062
3,260
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017MD,
5.000%,
12/01/46,
(UB)
(8)
6/27
at
100.00
AA-
3,344,825
1,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017MD,
5.000%,
12/01/46
(8)
6/27
at
100.00
AA-
1,026,020
1,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Series
2015,
5.000%,
7/01/35
7/25
at
100.00
A
1,036,630
5,500
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Series
2017B,
5.000%,
7/01/39
7/27
at
100.00
A
5,732,210
2,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Taxable
Series
2017D,
4.000%,
7/01/48
1/28
at
100.00
A
1,912,040
12,250
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
Western
Maryland
Health,
Series
2014,
5.250%,
7/01/34,
(Pre-
refunded
7/01/24)
7/24
at
100.00
N/R (4)
12,546,695
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2016:
4,395
5.000%,
5/01/33
5/26
at
100.00
AA-
4,679,444
3,650
5.000%,
5/01/35,
(Pre-refunded
5/01/26)
5/26
at
100.00
AA- (4)
3,895,171
5,100
5.000%,
5/01/46,
(Pre-refunded
5/01/26),
(UB)
(8)
5/26
at
100.00
AA- (4)
5,442,567
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2018A:
2,000
5.000%,
5/01/35
5/28
at
100.00
AA-
2,198,340
2,000
5.000%,
5/01/36,
(UB)
(8)
5/28
at
100.00
AA-
2,178,860
6,250
5.000%,
5/01/42,
(UB)
(8)
5/28
at
100.00
AA-
6,637,563
7,000
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Series
2020,
4.000%,
7/01/50
7/30
at
100.00
AA-
6,835,710
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
$
1,250
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Series
2021A,
5.000%,
7/01/46
7/31
at
100.00
Aa2
$
1,367,500
1,500
Montgomery
County
Housing
Opportunities
Commission,
Maryland,
Multifamily
Housing
Development
Bonds,
Series
2014A,
3.875%,
7/01/39
7/24
at
100.00
Aaa
1,501,875
Montgomery
County,
Maryland,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2015:
6,000
4.000%,
12/01/44
6/25
at
100.00
AA-
5,773,680
2,000
5.000%,
12/01/44,
(UB)
(8)
6/25
at
100.00
AA-
2,043,520
320
Prince
George's
County
Revenue
Authority,
Maryland,
Special
Obligation
Bonds,
Suitland-Naylor
Road
Project,
Series
2016,
5.000%,
7/01/46,
144A
1/26
at
100.00
N/R
321,469
4,500
Prince
George's
County,
Maryland,
Certificates
of
Participation,
University
of
Maryland
Capital
Region
Medical
Center,
Series
2018,
5.000%,
10/01/43,
(UB)
(8)
10/28
at
100.00
AA+
4,791,375
3,000
Prince
George's
County,
Maryland,
General
Obligation
Consolidated
Public
Improvement
Bonds,
Series
2014A,
4.000%,
9/01/31
9/24
at
100.00
AAA
3,036,390
1,050
Prince
George's
County,
Maryland,
Revenue
Bonds,
Collington
Episcopal
Life
Care
Community
Inc.,
Series
2017,
5.250%,
4/01/37
4/27
at
100.00
N/R
950,565
Prince
George's
County,
Maryland,
Special
Obligation
Bonds,
Westphalia
Town
Center
Project,
Series
2018:
1,300
5.125%,
7/01/39,
144A
7/28
at
100.00
N/R
1,286,532
2,200
5.250%,
7/01/48,
144A
7/28
at
100.00
N/R
2,167,506
2,051
Prince
George's
County,
Maryland,
Special
Tax
District
Bonds,
Victoria
Falls
Project,
Series
2005,
5.250%,
7/01/35
5/23
at
100.00
N/R
2,053,523
1,340
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Refunding
Series
2017,
5.000%,
11/01/35
11/24
at
103.00
B
1,229,973
795
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Refunding
Series
2017A-2,
5.000%,
11/01/31
11/24
at
103.00
B
754,328
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Series
2017A-1:
1,070
5.000%,
11/01/28
11/24
at
103.00
B
1,038,991
1,000
5.000%,
11/01/37
11/24
at
103.00
B
904,060
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B:
500
5.000%,
11/01/42
11/24
at
103.00
B
434,180
1,000
5.000%,
11/01/47
11/24
at
103.00
B
842,080
Washington
County
County
Commissioners,
Maryland,
Revenue
Bonds,
Diakon
Lutheran
Social
Ministries
Project,
Series
2019B:
1,000
5.000%,
1/01/29,
(ETM)
No
Opt.
Call
BBB+ (4)
1,126,960
500
5.000%,
1/01/32,
(Pre-refunded
1/01/29)
1/29
at
100.00
BBB+ (4)
563,480
Total
Maryland
289,696,854
Massachusetts
-
0.5%
(0.3%
of
Total
Investments)
586
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2007A,
0.000%,
10/15/37,
144A
(5)
5/23
at
100.00
N/R
58,580
734
Massachusetts
Development
Finance
Agency,
Health
Care
Facility
Revenue
Bonds,
Adventcare
Project,
Series
2010,
0.000%,
10/15/37
(5)
5/23
at
100.00
N/R
110,175
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Massachusetts
(continued)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Atrius
Health
Issue,
Series
2019A:
$
275
5.000%,
6/01/39,
(Pre-refunded
6/01/29)
6/29
at
100.00
N/R (4)
$
316,635
270
4.000%,
6/01/49,
(Pre-refunded
6/01/29)
6/29
at
100.00
N/R (4)
295,647
825
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D,
5.000%,
7/01/44
7/25
at
100.00
BBB
834,224
3,500
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
University,
Series
2016BB-1,
5.000%,
10/01/46
10/26
at
100.00
AA-
3,649,100
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
University,
Tender
Option
Bond
Trust
2016-XG0070:
930
11.718%,
10/01/48,
144A,
(IF)
(8)
10/23
at
100.00
Aa1
940,527
505
11.772%,
10/01/48,
144A,
(IF)
(8)
10/23
at
100.00
Aa1
510,727
3,200
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emerson
College,
Series
2015,
4.500%,
1/01/45
1/25
at
100.00
Baa2
3,039,136
2,300
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Olin
College,
Series
2013E,
5.000%,
11/01/43
11/23
at
100.00
A
2,310,741
1,500
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
UMass
Memorial
Health
Care,
Series
2016I,
4.000%,
7/01/41
7/26
at
100.00
BBB+
1,390,875
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Western
New
England
University,
Series
2015:
1,145
5.000%,
9/01/40
9/25
at
100.00
BBB-
1,115,150
1,280
5.000%,
9/01/45
9/25
at
100.00
BBB-
1,204,761
1,100
Massachusetts
Turnpike
Authority,
Metropolitan
Highway
System
Revenue
Bonds,
Senior
Series
1997A,
0.000%,
1/01/24
-
NPFG
Insured
No
Opt.
Call
A2
1,073,292
Total
Massachusetts
16,849,570
Michigan
-
3.7%
(2.3%
of
Total
Investments)
625
Bloomfield
Hills
Schools,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2023,
5.000%,
5/01/48
(WI/DD,
Settling
5/02/23)
5/33
at
100.00
Aa1
680,544
6,525
Caledonia
Community
Schools,
Kent,
Allegan
and
Barry
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020I,
4.000%,
5/01/50
5/30
at
100.00
AA
6,349,999
1,000
Eastern
Michigan
University,
General
Revenue
Bonds,
Series
2018A,
4.000%,
3/01/44
-
AGM
Insured
3/28
at
100.00
A1
964,420
4,180
Hudsonville
Public
Schools,
Ottawa
and
Allegan
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Refunding
Series
2023,
5.000%,
5/01/53
(WI/DD,
Settling
5/02/23)
5/33
at
100.00
AA
4,478,744
7,615
Hudsonville
Public
Schools,
Ottawa
and
Allegan
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020-I,
4.000%,
5/01/49
5/30
at
100.00
AA
7,313,294
2,000
Lansing
Board
of
Water
and
Light,
Michigan,
Utility
System
Revenue
Bonds,
Series
2019A,
5.000%,
7/01/48
7/29
at
100.00
AA-
2,118,600
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne,
Second
Lien
Refunding
Series
2020:
10,000
4.000%,
11/01/55
11/30
at
100.00
Aa3
9,483,400
15,415
4.000%,
11/01/55
11/30
at
100.00
Aa3
14,644,558
5,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
McLaren
Health
Care,
Series
2019A,
4.000%,
2/15/47
8/29
at
100.00
A1
4,731,950
2,690
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Water
Supply
System
Local
Project,
Insured
Senior
Lien
Series
2014C-3,
5.000%,
7/01/32
-
AGM
Insured
7/24
at
100.00
A1
2,737,936
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
405
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Water
Supply
System
Local
Project,
Refunding
Senior
Loan
Series
2014D-1,
5.000%,
7/01/37
-
AGM
Insured
7/24
at
100.00
A1
$
410,087
1,000
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Water
Supply
System
Local
Project,
Series
2014D-6,
5.000%,
7/01/36
-
NPFG
Insured
7/24
at
100.00
A2
1,012,560
3,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Fixed
Rate
Series
2022A-MI,
4.000%,
12/01/47
12/31
at
100.00
AA-
2,818,950
4,500
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2019A-MI,
4.000%,
12/01/49
12/29
at
100.00
AA-
4,189,590
4,435
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts
Senior
Current
Interest
Series
2020A-2,
5.000%,
6/01/40
12/30
at
100.00
BBB+
4,628,455
5,000
Michigan
Hospital
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Senior
Credit
Group,
Refunding
&
Project
Series
2010F-6,
4.000%,
11/15/47
11/26
at
100.00
Aa2
4,684,400
10,000
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I,
5.000%,
4/15/34
10/25
at
100.00
AA-
10,455,700
1,000
Michigan
State
University,
General
Revenue
Bonds,
Refunding
Series
2019C,
4.000%,
2/15/44
8/29
at
100.00
AA
974,100
8,000
Michigan
State,
Trunk
Line
Fund
Bonds,
Rebuilding
Michigan
Program
Series
2020B,
4.000%,
11/15/45
11/30
at
100.00
Aa2
7,887,040
3,805
Rockford
Public
Schools,
Kent
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2023II,
5.000%,
5/01/46
(WI/DD,
Settling
5/18/23)
5/33
at
100.00
AA
4,125,533
11,225
Walled
Lake
Consolidated
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020,
5.000%,
5/01/50
5/30
at
100.00
Aa1
12,028,373
3,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2012A,
5.000%,
12/01/37
5/23
at
100.00
A
3,002,430
1,200
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2015D,
5.000%,
12/01/45
12/25
at
100.00
A
1,228,860
2,500
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2017B,
5.000%,
12/01/47,
(AMT)
12/27
at
100.00
A
2,557,950
1,120
Wayne
State
University,
Michigan,
General
Revenue
Bonds,
Series
2018A,
5.000%,
11/15/36
11/25
at
100.00
A+
1,160,925
Total
Michigan
114,668,398
Minnesota
-
3.0%
(1.8%
of
Total
Investments)
310
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A,
4.000%,
8/01/36
8/26
at
100.00
BB+
264,312
3,000
Brainerd
Independent
School
District
181,
Crow
Wing
County,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2018A,
4.000%,
2/01/42
2/27
at
100.00
AAA
3,055,110
750
City
of
Ham
Lake,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
DaVinci
Academy
Project,Series
2016A,
5.000%,
7/01/47
7/24
at
102.00
N/R
676,972
500
Deephaven,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Eagle
Ridge
Academy
Project,
Series
2016A,
4.000%,
7/01/37
7/25
at
100.00
BB+
435,335
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Minnesota
(continued)
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A:
$
4,905
5.000%,
2/15/48
2/28
at
100.00
A-
$
5,020,415
13,925
5.000%,
2/15/53
2/28
at
100.00
A-
14,184,562
1,925
5.250%,
2/15/53
2/28
at
100.00
A-
2,000,633
725
Hawley
Independent
School
District
150,
Clay
County,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2023A,
4.000%,
2/01/43
2/30
at
100.00
Aa1
733,968
500
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Paladin
Career
&
Technical
High
School
Project,
Series
2021A,
4.000%,
6/01/41
6/29
at
102.00
N/R
383,645
3,010
Independent
School
District
621,
Mounds
View,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2018A,
4.000%,
2/01/42
2/27
at
100.00
AAA
3,051,538
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019B:
1,000
5.000%,
1/01/31,
(AMT)
7/29
at
100.00
A+
1,090,290
1,235
5.000%,
1/01/39,
(AMT)
7/29
at
100.00
A+
1,303,160
7,500
5.000%,
1/01/49,
(AMT)
7/29
at
100.00
A+
7,709,700
2,295
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Senior
Lien
Series
2016C,
5.000%,
1/01/41
1/27
at
100.00
AA-
2,395,590
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2016D:
470
5.000%,
1/01/32,
(AMT)
1/27
at
100.00
A+
493,801
450
5.000%,
1/01/35,
(AMT)
1/27
at
100.00
A+
470,367
580
5.000%,
1/01/37,
(AMT)
1/27
at
100.00
A+
600,752
750
5.000%,
1/01/41,
(AMT)
1/27
at
100.00
A+
768,653
2,745
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2022B,
5.250%,
1/01/47,
(AMT)
1/32
at
100.00
A+
2,914,613
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Carleton
College,
Refunding
Series
2017:
1,460
4.000%,
3/01/41
3/27
at
100.00
Aa2
1,471,476
1,700
4.000%,
3/01/47
3/27
at
100.00
Aa2
1,673,242
2,150
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Macalester
College,
Refunding
Series
2017,
4.000%,
3/01/48
3/27
at
100.00
Aa3
2,074,943
270
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021A,
3.000%,
8/01/36
8/31
at
100.00
AA+
255,010
190
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021B,
3.000%,
8/01/36
8/31
at
100.00
AA+
180,033
2,910
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2022A,
5.000%,
8/01/41
8/32
at
100.00
AA+
3,209,119
910
Rochester,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Mayo
Clinic,
Series
2018A,
4.000%,
11/15/48
5/28
at
100.00
AA
910,109
5,000
Rochester,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Mayo
Clinic,
Series
2022,
5.000%,
11/15/57
11/32
at
100.00
AA
5,446,700
2,000
Saint
Cloud,
Minnesota,
Health
Care
Revenue
Bonds,
CentraCare
Health
System,
Series
2016A,
5.000%,
5/01/46
5/26
at
100.00
A2
2,036,320
1,520
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
of
Peace
Academy
Project,
Refunding
Series
2015A,
5.000%,
12/01/50
12/24
at
100.00
BBB-
1,468,214
4,280
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A,
5.000%,
9/01/55
9/30
at
100.00
BB+
3,794,819
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Minnesota
(continued)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A:
$
2,205
5.500%,
9/01/36
9/26
at
100.00
BB+
$
2,215,518
2,500
5.750%,
9/01/46
9/26
at
100.00
BB+
2,507,425
2,500
6.000%,
9/01/51
9/26
at
100.00
BB+
2,521,450
500
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Twin
Cities
German
Immersion
School,
Series
2013A,
5.000%,
7/01/44
7/23
at
100.00
BB
470,710
Saint
Paul
Housing
and
Redevelopment
Authority
Minnesota,
Senior
Housing
and
Health
Care
Revenue
Bonds,
Episcopal
Homes
Project,
Series
2013:
1,855
5.000%,
5/01/33
5/23
at
100.00
N/R
1,685,805
1,000
5.125%,
5/01/48
5/23
at
100.00
N/R
820,590
2,245
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Revenue
Bonds,
Fairview
Health
Services,
Series
2017A,
5.000%,
11/15/47
11/27
at
100.00
BBB+
2,294,772
750
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A,
5.000%,
11/15/29,
(Pre-refunded
11/15/25)
11/25
at
100.00
N/R (4)
789,592
2,000
Wayzata,
Minnesota
Senior
Housing
Revenue
Bonds,
Folkestone
Senior
Living
Community,
Refunding
Series
2019,
5.000%,
8/01/54
8/24
at
102.00
N/R
1,840,220
3,855
West
Saint
Paul-Mendota
Heights-Eagan
Independent
School
District
197,
Dakota
County,
Minnesota,
General
Obligation
Bonds,
School
Buidling
Series
2018A,
4.000%,
2/01/41
2/27
at
100.00
AAA
3,906,002
2,000
Western
Minnesota
Municipal
Power
Agency,
Minnesota,
Power
Supply
Revenue
Bonds,
Series
2014A,
5.000%,
1/01/46,
(Pre-refunded
1/01/24)
1/24
at
100.00
Aa2 (4)
2,024,080
Total
Minnesota
91,149,565
Mississippi
-
0.8%
(0.5%
of
Total
Investments)
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A:
1,500
5.000%,
9/01/36
9/26
at
100.00
BBB+
1,539,270
6,000
5.000%,
9/01/41
9/26
at
100.00
BBB+
6,090,000
15,500
5.000%,
9/01/46
9/26
at
100.00
BBB+
15,575,795
Total
Mississippi
23,205,065
Missouri
-
5.4%
(3.3%
of
Total
Investments)
1,000
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016,
5.000%,
8/01/28
8/26
at
100.00
Ba3
934,890
2,010
Bridgeton
Industrial
Development
Authority,
Missouri,
Senior
Housing
Revenue
Bonds,
The
Sarah
Community
Project,
Refunding
Series
2016,
3.625%,
5/01/30
5/25
at
100.00
N/R
2,016,593
500
Curators
of
the
University
of
Missouri,
System
Facilities
Revenue
Bonds,
Series
2014A,
4.000%,
11/01/33
11/24
at
100.00
AA+
506,810
3,000
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019A,
5.000%,
3/01/44,
(AMT)
3/29
at
100.00
A-
3,105,690
Kansas
City
Industrial
Development
Authority,
Missouri,
Airport
Special
Obligation
Bonds,
Kansas
City
International
Airport
Terminal
Modernization
Project,
Series
2019B:
23,675
5.000%,
3/01/46,
(AMT)
3/29
at
100.00
A-
24,425,261
4,525
5.000%,
3/01/54,
(AMT)
3/29
at
100.00
A-
4,637,174
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
400
Kansas
City
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Bonds,
Ward
Parkway
Center
Community
Improvement
District,
Senior
Refunding
&
Improvement
Series
2016,
5.000%,
4/01/46,
144A
4/26
at
100.00
N/R
$
350,060
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1:
7,000
0.000%,
4/15/27
-
AMBAC
Insured
No
Opt.
Call
A2
6,234,620
5,000
0.000%,
4/15/28
-
AMBAC
Insured
No
Opt.
Call
A2
4,341,950
5,000
0.000%,
4/15/29
-
AMBAC
Insured
No
Opt.
Call
A2
4,235,150
4,470
Kansas
City,
Missouri,
Sanitary
Sewer
System
Revenue
Bonds,
Improvement
Series
2018A,
4.000%,
1/01/42
1/28
at
100.00
AA
4,495,479
6,185
Kansas
City,
Missouri,
Sanitary
Sewer
System
Revenue
Bonds,
Improvement
Series
2023A,
4.000%,
1/01/48
1/33
at
100.00
AA
6,046,023
1,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Series
1998C,
2.750%,
9/01/33
6/27
at
102.00
A
954,920
1,000
Missouri
Health
and
Education
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Saint
Luke's
Health
System,
Inc.,
Series
2016,
5.000%,
11/15/34
5/26
at
100.00
A+
1,050,120
1,260
Missouri
Health
and
Educational
Facilities
Authority,
Educational
Facilities
Revenue
Bonds,
University
of
Central
Missouri,
Series
2013C-2,
5.000%,
10/01/34
10/23
at
100.00
A+
1,264,145
11,010
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2021A,
4.000%,
7/01/46
7/31
at
100.00
AA
10,378,356
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A:
1,045
5.000%,
11/15/44
11/23
at
100.00
A2
1,031,551
11,090
5.000%,
11/15/48
11/23
at
100.00
A2
10,859,439
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017C:
3,000
5.000%,
11/15/42
11/27
at
100.00
A+
3,102,930
10,000
4.000%,
11/15/47
11/27
at
100.00
A+
9,498,100
6,265
5.000%,
11/15/47
11/27
at
100.00
A+
6,437,601
10,650
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020,
4.000%,
6/01/53
6/30
at
100.00
A+
9,925,374
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A:
1,800
4.000%,
2/15/44
2/29
at
100.00
A1
1,743,282
7,815
4.000%,
2/15/49
2/29
at
100.00
A1
7,261,620
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
SSM
Health
Care,
Series
2018A:
2,000
4.000%,
6/01/48
6/28
at
100.00
A+
1,880,000
3,500
5.000%,
6/01/48
6/28
at
100.00
A+
3,599,820
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Children's
Mercy
Hospital,
Series
2017A:
1,250
4.000%,
5/15/42
5/25
at
102.00
AA-
1,221,975
16,690
4.000%,
5/15/48
5/25
at
102.00
AA-
15,884,707
7,925
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016A,
5.000%,
2/01/46
2/26
at
100.00
BBB
7,212,622
3,370
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016B,
5.000%,
2/01/46
2/26
at
100.00
BBB
3,067,071
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Saint
Louis
University,
Series
2017A:
725
4.000%,
10/01/36
4/27
at
100.00
A1
732,199
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
3,510
5.000%,
10/01/47
4/27
at
100.00
A1
$
3,689,853
2,000
Missouri
Joint
Municipal
Electric
Utility
Commission,
Power
Supply
System
Revenue
Bonds,
MoPEP
Facilities,
Series
2018,
5.000%,
12/01/43
6/27
at
100.00
A2
2,071,520
1,000
North
Central
Missouri
Regional
Water
Commission,
Waterworks
System
Revenue
Bonds,
Series
2006,
5.000%,
1/01/37
5/23
at
100.00
N/R
1,000,240
375
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
of
Sunset
Hills,
Series
2013A,
5.875%,
9/01/43
9/23
at
100.00
BB+
375,266
1,000
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
Saint
Louis
Obligated
Group,
Series
2018A,
5.125%,
9/01/48
9/25
at
103.00
BB+
873,800
Total
Missouri
166,446,211
Montana
-
0.2%
(0.1%
of
Total
Investments)
2,090
Montana
Facility
Finance
Authority,
Healthcare
Facility
Revenue
Bonds,
Kalispell
Regional
Medical
Center,
Series
2018B,
5.000%,
7/01/43
7/28
at
100.00
BBB
2,119,302
3,315
Montana
Facility
Finance
Authority,
Montana,
Health
Facilities
Reveue
Bonds,
Bozeman
Deaconess
Health
Services
Obligated
Group,
Series
2018,
5.000%,
6/01/48
6/28
at
100.00
A
3,367,277
Total
Montana
5,486,579
Nebraska
-
0.2%
(0.1%
of
Total
Investments)
Douglas
County
Hospital
Authority
2,
Nebraska,
Health
Facilities
Revenue
Bonds,
Children's
Hospital
Obligated
Group,
Refunding
Series
2020A:
1,625
4.000%,
11/15/40
11/30
at
100.00
A1
1,614,844
1,000
4.000%,
11/15/50
11/30
at
100.00
A1
962,070
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015:
1,635
4.125%,
11/01/36
11/25
at
100.00
A
1,647,573
1,000
5.000%,
11/01/45
11/25
at
100.00
A
1,012,430
Total
Nebraska
5,236,917
Nevada
-
0.9%
(0.6%
of
Total
Investments)
8,835
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B,
5.000%,
7/01/43
7/28
at
100.00
A
9,268,357
Las
Vegas
Valley
Water
District,
Nevada,
General
Obligation
Bonds,
Refunding
Series
2015:
9,000
5.000%,
6/01/32
12/24
at
100.00
AA
9,255,150
5,000
5.000%,
6/01/39
12/24
at
100.00
AA
5,099,100
Nevada
System
of
Higher
Education,
Community
College
Revenue
Bonds,
Series
2017:
2,400
4.000%,
7/01/41
7/27
at
100.00
AA-
2,375,664
2,000
4.000%,
7/01/47
7/27
at
100.00
AA-
1,924,860
Total
Nevada
27,923,131
New
Hampshire
-
0.4%
(0.3%
of
Total
Investments)
3,500
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Catholic
Medical
Center,
Series
2012,
4.000%,
7/01/32
5/23
at
100.00
Baa3
3,500,560
4,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2018A,
5.000%,
8/01/35
2/28
at
100.00
A
4,248,600
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Hampshire
(continued)
$
5,000
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2020A,
5.000%,
8/01/59
No
Opt.
Call
A
$
5,268,150
Total
New
Hampshire
13,017,310
New
Jersey
-
5.3%
(3.2%
of
Total
Investments)
905
Camden
County
Improvement
Authority,
New
Jersey,
Health
Care
Redevelopment
Revenue
Bonds,
Cooper
Health
System
Obligated
Group
Issue,
Series
2013A,
5.750%,
2/15/42
5/23
at
100.00
A-
906,258
5,000
New
Jersey
Economic
Development
Authority,
New
Jersey,
Transit
Transportation
Project
Revenue
Bonds,
Series
2020A,
5.000%,
11/01/40
11/29
at
100.00
A-
5,327,750
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013:
1,965
5.000%,
1/01/31
-
AGM
Insured,
(AMT)
1/24
at
100.00
A-
1,981,526
1,865
5.125%,
1/01/39
-
AGM
Insured,
(AMT)
1/24
at
100.00
A-
1,874,679
1,585
5.125%,
7/01/42
-
AGM
Insured,
(AMT)
1/24
at
100.00
A-
1,591,102
6,030
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
New
Jersey
Transit
Corporation
Projects
Sublease,
Refunding
Series
2017B,
5.000%,
11/01/25
No
Opt.
Call
A-
6,284,466
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
A- (4)
2,200,600
6,770
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2005N-1,
5.500%,
9/01/27
-
NPFG
Insured
No
Opt.
Call
A-
7,449,573
2,825
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2014UU,
5.000%,
6/15/30,
(Pre-refunded
6/15/24)
6/24
at
100.00
A- (4)
2,883,958
2,410
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ,
4.000%,
6/15/50
12/30
at
100.00
A-
2,278,366
8,415
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Refunding
Series
2016A,
5.000%,
7/01/43
7/26
at
100.00
AA-
8,679,988
5,275
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Series
2021A,
4.000%,
7/01/51
7/31
at
100.00
AA-
5,015,206
1,235
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
University
Hospital
Issue,
Refunding
Series
2015A,
5.000%,
7/01/46
-
AGM
Insured
7/25
at
100.00
BB-
1,248,350
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2016A-1:
2,020
5.000%,
6/15/28
6/26
at
100.00
A2
2,135,140
3,340
5.000%,
6/15/29
6/26
at
100.00
A2
3,529,645
1,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A,
0.000%,
12/15/26
No
Opt.
Call
A-
885,640
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C:
21,120
0.000%,
12/15/28
-
AMBAC
Insured
No
Opt.
Call
A-
17,515,027
10,000
0.000%,
12/15/32
-
AGM
Insured
No
Opt.
Call
A
7,176,500
20,000
0.000%,
12/15/33
-
AGM
Insured
No
Opt.
Call
A
13,765,600
25,000
0.000%,
12/15/35
-
AMBAC
Insured
No
Opt.
Call
A-
15,354,750
30,000
0.000%,
12/15/36
-
AMBAC
Insured
No
Opt.
Call
A-
17,067,000
2,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A,
0.000%,
12/15/32
No
Opt.
Call
A-
1,417,780
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Jersey
(continued)
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA:
$
1,690
5.250%,
6/15/33
6/25
at
100.00
A-
$
1,762,417
2,840
5.000%,
6/15/45
6/25
at
100.00
A-
2,886,746
2,800
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2018A,
5.000%,
12/15/36
12/28
at
100.00
A-
3,001,432
665
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019A,
4.000%,
12/15/39
12/29
at
100.00
A-
666,496
8,375
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
4.000%,
6/15/45
12/30
at
100.00
A-
8,078,693
2,460
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Series
2017B,
4.000%,
1/01/34
1/28
at
100.00
A1
2,557,293
5,250
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2022B,
5.250%,
1/01/52,
(UB)
(8)
1/33
at
100.00
A1
5,880,000
3,905
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Series
2020A,
5.000%,
11/01/45
11/30
at
100.00
Baa2
4,066,394
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A:
3,215
5.000%,
6/01/36
6/28
at
100.00
A-
3,420,342
1,405
5.000%,
6/01/46
6/28
at
100.00
BBB+
1,447,445
1,380
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
BBB-
1,374,314
Total
New
Jersey
161,710,476
New
Mexico
-
0.5%
(0.3%
of
Total
Investments)
3,370
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2017A,
5.000%,
8/01/46
11/27
at
100.00
Aa3
3,519,156
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A:
1,575
5.000%,
8/01/44
8/29
at
100.00
Aa3
1,656,853
7,000
4.000%,
8/01/48
8/29
at
100.00
Aa3
6,398,560
2,845
Santa
Fe
County,
New
Mexico,
Correctional
System
Gross
Receipts
Tax
Revenue
Bonds,
Series
1997,
6.000%,
2/01/27
-
AGM
Insured
No
Opt.
Call
A1
3,036,412
Total
New
Mexico
14,610,981
New
York
-
9.6%
(5.9%
of
Total
Investments)
6,600
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009,
0.000%,
7/15/44
No
Opt.
Call
Ba1
2,259,510
490
Buffalo
and
Erie
County
Industrial
Land
Development
Corporation,
New
York,
Revenue
Bonds,
Catholic
Health
System,
Inc.
Project,
Series
2015,
5.250%,
7/01/35
7/25
at
100.00
Caa2
425,942
3,125
Dormitory
Authority
of
the
State
of
New
York,
General
Revenue
Bonds,
Saint
Johns
University,
Series
2013A,
5.000%,
7/01/44
7/23
at
100.00
A-
3,130,625
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
North
Shore
Long
Island
Jewish
Obligated
Group,
Series
2015A:
1,680
4.125%,
5/01/42
5/25
at
100.00
A-
1,674,087
3,195
5.000%,
5/01/43
5/25
at
100.00
A-
3,258,836
600
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017,
5.000%,
12/01/34,
144A
6/27
at
100.00
BBB-
597,504
3,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2022A,
5.000%,
3/15/46
3/32
at
100.00
AA+
3,288,420
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
4,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019A.
Bidding
Group
1,2,3,4,
5.000%,
3/15/44
3/29
at
100.00
Aa1
$
4,269,960
20,000
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D,
4.000%,
2/15/47
2/30
at
100.00
Aa1
19,654,800
5,000
Liberty
Development
Corporation,
New
York,
Goldman
Sachs
Headquarter
Revenue
Bonds,
Series
2005,
5.250%,
10/01/35
No
Opt.
Call
BBB+
5,744,650
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2014A:
1,155
4.000%,
9/01/39
-
AGM
Insured
9/24
at
100.00
A
1,149,410
3,000
5.000%,
9/01/39
9/24
at
100.00
A
3,039,840
860
5.000%,
9/01/44
9/24
at
100.00
A
869,202
5,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2018,
5.000%,
9/01/37
9/28
at
100.00
A
5,474,700
10,000
Metropolitan
Transportation
Authority,
New
York,
Dedicated
Tax
Fund
Bonds,
Refunding
Series
2012A,
0.000%,
11/15/32
No
Opt.
Call
AA
7,038,200
5,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2013A,
5.000%,
11/15/38
5/23
at
100.00
BBB+
5,009,400
New
York
City
Industrial
Development
Agency,
New
York,
Civic
Facility
Revenue
Bonds,
Bronx
Parking
Development
Company,
LLC
Project,
Series
2007:
500
0.000%,
10/01/37
(5)
5/23
at
100.00
N/R
400,000
1,000
2.350%,
10/01/46
(5)
5/23
at
100.00
N/R
800,000
5,900
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2014
Series
BB,
5.000%,
6/15/46
6/23
at
100.00
AA+
5,912,154
5,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
EE,
4.000%,
6/15/42
6/30
at
100.00
AA+
5,008,500
2,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
A-1,
5.000%,
5/01/40
5/26
at
100.00
Aa1
2,097,800
3,760
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2017
Series
E-1,
5.000%,
2/01/43
2/27
at
100.00
Aa1
3,968,454
5,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2018
Series
C-3,
5.000%,
5/01/41
5/28
at
100.00
Aa1
5,355,800
20,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2019
Subseries
C-1,
4.000%,
11/01/42
5/29
at
100.00
Aa1
19,755,200
9,530
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
B-1,
4.000%,
8/01/45
8/31
at
100.00
Aa1
9,366,751
5,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
F-1,
5.000%,
2/01/47
2/32
at
100.00
Aa1
5,472,200
2,060
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2017
Series
B-1,
5.000%,
12/01/41
12/26
at
100.00
AA
2,182,385
11,000
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
Series
A-1,
4.000%,
8/01/42
8/29
at
100.00
AA
10,912,990
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
F-1:
2,000
5.000%,
3/01/44
3/31
at
100.00
AA
2,192,480
3,000
5.000%,
3/01/50
3/31
at
100.00
AA
3,251,310
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
5
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
Series
2005M,
5.000%,
4/01/24
5/23
at
100.00
AA
$
5,007
2,000
New
York
Convention
Center
Development
Corporation,
New
York,
Revenue
Bonds,
Hotel
Unit
Fee
Secured,
Refunding
Series
2015,
5.000%,
11/15/45
11/25
at
100.00
A2
2,043,480
240
New
York
Counties
Tobacco
Trust
I,
Tobacco
Settlement
Pass-Through
Bonds,
Series
2000B,
6.500%,
6/01/35
5/23
at
100.00
Baa1
240,118
1,235
New
York
Counties
Tobacco
Trust
VI,
New
York,
Tobacco
Settlement
Pass-Through
Bonds,
Series
Series
2016A-1,
5.625%,
6/01/35
No
Opt.
Call
A-
1,270,074
25,170
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R
24,458,192
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2020C:
13,370
5.000%,
3/15/47
9/30
at
100.00
Aa1
14,504,712
4,120
5.000%,
3/15/50
9/30
at
100.00
Aa1
4,455,739
2,000
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2022A,
5.000%,
3/15/46
9/32
at
100.00
Aa1
2,194,720
19,000
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Empire
Series
2021A,
4.000%,
3/15/47
9/31
at
100.00
AA+
18,785,490
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A:
2,000
4.000%,
7/01/35
-
AGM
Insured,
(AMT)
7/24
at
100.00
BBB
2,000,320
19,700
5.000%,
7/01/46,
(AMT)
7/24
at
100.00
Baa2
19,573,132
23,490
5.250%,
1/01/50,
(AMT)
7/24
at
100.00
Baa2
23,518,423
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016:
145
5.000%,
8/01/26,
(AMT)
5/23
at
100.00
B-
145,104
5,940
5.000%,
8/01/31,
(AMT)
5/23
at
100.00
B-
5,947,247
3,805
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020,
5.250%,
8/01/31,
(AMT)
8/30
at
100.00
B-
3,932,696
3,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
5.000%,
12/01/39,
(AMT)
12/32
at
100.00
Baa1
3,156,060
3,050
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2018,
5.000%,
1/01/33,
(AMT)
1/28
at
100.00
BB+
3,195,546
1,310
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
One
Hundred
Seventy
Eighth
Series
2013,
5.000%,
12/01/43,
(AMT)
12/23
at
100.00
AA-
1,313,445
4,320
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
One
Hundred
Seventy
Ninth
Series
2013,
5.000%,
12/01/38
12/23
at
100.00
AA-
4,358,318
5,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Eleventh
Series
2018,
5.000%,
9/01/48
9/28
at
100.00
AA-
5,319,800
2,000
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Twenty-One
Series
2020,
4.000%,
7/15/50,
(AMT)
7/30
at
100.00
AA-
1,881,440
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A:
2,835
5.000%,
1/01/29,
(AMT)
1/26
at
100.00
C
2,174,218
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
2,700
5.000%,
1/01/34,
(AMT)
1/26
at
100.00
C
$
2,028,348
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006:
1,250
5.000%,
6/01/45
6/27
at
100.00
CCC+
1,175,150
2,850
5.000%,
6/01/48
6/27
at
100.00
N/R
2,642,606
Total
New
York
293,880,495
North
Carolina
-
1.4%
(0.9%
of
Total
Investments)
2,500
Greater
Asheville
Regional
Airport
Authority,
North
Carolina,
Airport
System
Revenue
Bonds,
Series
2022A,
5.500%,
7/01/47
-
AGM
Insured,
(AMT)
7/32
at
100.00
A1
2,732,175
5,730
North
Carolina
Department
of
Transportation,
Private
Activity
Revenue
Bonds,
I-77
Hot
Lanes
Project,
Series
2015,
5.000%,
6/30/54,
(AMT)
6/25
at
100.00
BBB
5,519,136
11,145
North
Carolina
Medial
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Rex
Healthcare,
Series
2020A,
4.000%,
7/01/49
1/30
at
100.00
A2
10,819,009
1,570
North
Carolina
Medical
Care
Commission, Retirement
Facilities
First
Mortgage
Revenue
Bonds,
Southminster
Project,
Refunding
Series
2016,
5.000%,
10/01/31
10/24
at
102.00
N/R
1,524,799
9,245
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Obligated
Group,
Series
2019A,
4.000%,
11/01/49
11/29
at
100.00
AA-
9,163,274
500
North
Carolina
Municipal
Power
Agency
1,
Catawba
Electric
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
1/01/32
1/26
at
100.00
A
525,875
11,480
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Senior
Lien
Series
2019,
5.000%,
1/01/49
1/30
at
100.00
BBB
11,863,547
1,100
Union
County,
North
Carolina,
Enterprise
System
Revenue
Bonds,
Series
2019A,
4.000%,
6/01/44
6/29
at
100.00
Aa2
1,093,917
Total
North
Carolina
43,241,732
North
Dakota
-
0.2%
(0.1%
of
Total
Investments)
5,000
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A,
4.000%,
12/01/47
12/27
at
100.00
BBB-
4,188,450
700
Grand
Forks,
North
Dakota,
Senior
Housing
&
Nursing
Facilities
Revenue
Bonds,
Valley
Homes
and
Services
Obligated
Group,
Series
2017,
5.000%,
12/01/36
12/26
at
100.00
N/R
631,946
2,000
University
of
North
Dakota,
Certificates
of
Participation,
Housing
Infrastructure
Project,
Series
2021A,
4.000%,
6/01/46
-
AGM
Insured
6/30
at
100.00
A1
1,897,180
Total
North
Dakota
6,717,576
Ohio
-
4.1%
(2.6%
of
Total
Investments)
6,250
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016,
5.250%,
11/15/46
11/26
at
100.00
BBB+
6,353,125
6,000
Allen
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017A,
4.000%,
8/01/36
2/28
at
100.00
A+
6,080,580
1,340
Bowling
Green
State
University,
Ohio,
General
Receipts
Bonds,
Series
2017B,
5.000%,
6/01/45
6/27
at
100.00
A+
1,404,963
24,740
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R
3,027,186
1,580
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
4.000%,
6/01/48
6/30
at
100.00
BBB+
1,398,853
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
$
38,970
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
$
36,378,885
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Refunding
Series
2017:
3,960
4.000%,
11/15/34
11/27
at
100.00
Baa2
3,803,105
3,000
4.000%,
11/15/35
11/27
at
100.00
Baa2
2,808,720
Cleveland-Cuyahoga
County
Port
Authroity,
Ohio,
Cultural
Facility
Revenue
Bonds,
The
Cleveland
Museum
of
Natural
History
Project,
Series
2021:
205
4.000%,
7/01/40
7/31
at
100.00
A3
202,509
300
4.000%,
7/01/41
7/31
at
100.00
A3
293,556
2,000
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-
1,
5.000%,
12/01/51
6/29
at
100.00
N/R
1,964,000
4,795
Fairfield
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Fairfield
Medical
Center
Project,
Series
2013,
5.000%,
6/15/43
6/23
at
100.00
Ba3
4,285,244
5,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
TriHealth,
Inc.
Obligated
Group
Project,
Series
2017A,
5.000%,
8/15/42
8/27
at
100.00
A+
5,129,100
8,360
Lake
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Lake
Hospital
System,
Inc.,
Refunding
Series
2015,
5.000%,
8/15/45,
(Pre-refunded
8/15/25)
8/25
at
100.00
N/R (4)
8,686,040
2,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013,
5.000%,
2/15/33
5/23
at
100.00
Ba2
2,000,760
3,000
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-
2,731,710
4,350
Ohio
Higher
Educational
Facility
Commission,
Revenue
Bonds,
University
of
Dayton,
Series
2015A,
5.000%,
12/01/44
6/25
at
100.00
A2
4,475,367
3,710
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructure
Commission
Infrastructure
Projects,
Junior
Lien,
Capital
Appreciation
Series
2013A-3,
5.800%,
2/15/36
2/31
at
100.00
A+
4,419,055
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A:
3,375
4.000%,
2/15/38
2/28
at
100.00
A+
3,418,774
16,325
5.000%,
2/15/43
2/28
at
100.00
AA-
17,357,719
5,450
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-
5,280,614
4,250
Pickerington
Local
School
District,
Fairfield
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
School
Facilities
Construction
&
Improvement,
Series
2023,
5.250%,
12/01/59
12/32
at
100.00
Aa2
4,726,255
725
Warren
County,
Ohio,
Healthcare
Facilities
Revenue
Bonds,
Otterbein
Homes
Obligated
Group,
Refunding
Series
2019A,
4.000%,
7/01/45
7/29
at
100.00
A
646,541
Total
Ohio
126,872,661
Oklahoma
-
0.4%
(0.2%
of
Total
Investments)
1,800
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022,
5.500%,
8/15/41
8/32
at
100.00
N/R
1,753,704
3,000
Tulsa
Airports
Improvement
Trust,
Oklahoma,
General
Airport
Revenue
Bonds,
Series
2013A,
5.625%,
6/01/43,
(Pre-refunded
6/01/23),
(AMT)
6/23
at
100.00
A3 (4)
3,004,650
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oklahoma
(continued)
$
4,985
Tulsa
Airports
Improvement
Trust,
Oklahoma,
General
Airport
Revenue
Bonds,
Series
2015A,
5.000%,
6/01/45,
(Pre-refunded
6/01/24)
-
BAM
Insured,
(AMT)
6/24
at
100.00
A3 (4)
$
5,056,236
1,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017,
5.250%,
11/15/37
11/25
at
102.00
BBB-
1,018,120
Total
Oklahoma
10,832,710
Oregon
-
2.6%
(1.6%
of
Total
Investments)
2,435
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+
2,598,389
725
Clackamas
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Rose
Villa
Inc.,
Series
2020A,
5.250%,
11/15/50
11/25
at
102.00
N/R
641,509
4,875
Deschutes
County
Hospital
Facility
Authority,
Oregon,
Hospital
Revenue
Bonds,
Saint
Charles
Health
System,
Inc.,
Series
2016A,
5.000%,
1/01/48
1/26
at
100.00
A
4,928,284
2,410
Oregon
Facilities
Authority,
Revenue
Bonds,
Legacy
Health
Project,
Series
2022A,
5.000%,
6/01/52
6/32
at
100.00
A+
2,510,401
3,085
Oregon
Facilities
Authority,
Revenue
Bonds,
Samaritan
Health
Services
Project,
Refunding
Series
2020A,
5.000%,
10/01/40
10/30
at
100.00
BBB+
3,177,272
1,500
Oregon
Health
and
Science
University,
Revenue
Bonds,
Refunding
Series
2016B,
5.000%,
7/01/39
7/26
at
100.00
AA-
1,551,195
5,000
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Green
Series
2023-29,
5.500%,
7/01/48,
(AMT)
7/33
at
100.00
AA-
5,516,800
Port
of
Portland,
Oregon,
International
Airport
Revenue
Bonds,
Series
2017-24B:
3,255
5.000%,
7/01/35,
(AMT)
1/27
at
100.00
AA-
3,394,997
1,000
5.000%,
7/01/37,
(AMT)
1/27
at
100.00
AA-
1,033,930
7,645
5.000%,
7/01/47,
(AMT)
1/27
at
100.00
AA-
7,776,418
30,870
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Health
Projects,
Series
2019A,
4.000%,
5/15/49
5/29
at
100.00
A+
29,498,446
15,440
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Healthl
Project,
Refunding
Series
2016A,
5.000%,
5/15/46
5/26
at
100.00
A+
15,802,994
2,000
University
of
Oregon,
General
Revenue
Bonds,
Series
2018A,
5.000%,
4/01/48
4/28
at
100.00
AA-
2,115,120
Total
Oregon
80,545,755
Pennsylvania
-
6.1%
(3.7%
of
Total
Investments)
7,500
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A,
5.000%,
4/01/47
4/28
at
100.00
A
7,662,000
Allegheny
County
Sanitary
Authority,
Pennsylvania,
Sewer
Revenue
Bonds,
Series
2020B:
1,000
4.000%,
6/01/45
12/30
at
100.00
AA-
974,240
1,765
4.000%,
6/01/50
12/30
at
100.00
AA-
1,687,058
3,800
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
4.375%,
1/01/35,
(Mandatory
Put
7/01/33)
No
Opt.
Call
BBB-
3,798,252
345
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018,
5.000%,
6/01/34
6/28
at
100.00
A
372,907
Delaware
River
Joint
Toll
Bridge
Commission,
New
Jersey
and
Pennsylvania,
Bridge
System
Revenue
Bonds,
Series
2017:
3,500
5.000%,
7/01/37
7/27
at
100.00
A+
3,751,580
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
8,385
5.000%,
7/01/42
7/27
at
100.00
A+
$
8,810,958
16,515
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
Penn
State
Health,
Series
2021,
5.000%,
11/01/51
11/29
at
100.00
A
17,066,601
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Capital
Appreciation
Series
2013B:
5,400
0.000%,
12/01/33
No
Opt.
Call
A
3,668,868
11,000
0.000%,
12/01/38
No
Opt.
Call
A
5,657,520
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Series
2013A:
2,875
5.125%,
12/01/47,
(Pre-refunded
12/01/23)
12/23
at
100.00
N/R (4)
2,907,833
2,500
5.125%,
12/01/47
12/23
at
100.00
A
2,445,475
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A:
2,400
5.000%,
9/01/35
9/28
at
100.00
A3
2,548,776
5,410
5.000%,
9/01/48
9/28
at
100.00
A3
5,547,631
500
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2019,
4.000%,
9/01/44
9/29
at
100.00
A3
469,910
3,430
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Albert
Einstein
Healthcare
Network
Issue,
Series
2015A,
5.250%,
1/15/45,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R (4)
3,554,097
1,900
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
ACTS
Retirement-Life
Communities,
Inc.
Obligated
Group,
Series
2020,
4.000%,
11/15/43
11/27
at
103.00
A-
1,555,891
5,155
Neshaminy
School
District,
Bucks
County,
Pennsylvania,
General
Obligation
Bonds,
Series
2022,
4.000%,
11/01/46
5/30
at
100.00
Aa1
5,234,593
235
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
National
Gypsum
Company,
Refunding
Series
2014,
5.500%,
11/01/44,
(AMT)
11/24
at
100.00
N/R
236,069
9,575
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Pennsylvania
Health
System,
Series
2019,
4.000%,
8/15/44
8/29
at
100.00
Aa3
9,400,735
16,750
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Capital
Appreciation
Series
2009E,
6.375%,
12/01/38
12/27
at
100.00
A3
18,973,060
4,305
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015A-1,
5.000%,
12/01/45
6/25
at
100.00
A1
4,403,111
6,935
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2021B,
5.000%,
12/01/51
6/31
at
100.00
A1
7,378,493
3,635
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2022B,
5.250%,
12/01/52
12/32
at
100.00
A1
3,985,341
2,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Lien
Series
2014A-1,
5.000%,
12/01/38
12/24
at
100.00
A3
2,041,240
14,500
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2009C,
6.250%,
6/01/33
-
AGM
Insured
6/26
at
100.00
A1
16,002,200
6,890
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2015B-1,
5.000%,
12/01/45
12/25
at
100.00
A3
7,048,952
5,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2016A-1,
5.000%,
12/01/46
12/25
at
100.00
A3
5,111,750
9,240
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2021A,
4.000%,
12/01/50
12/30
at
100.00
A3
8,716,739
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
7,500
Philadelphia
School
District,
Pennsylvania,
General
Obligation
Bonds,
Series
2021A,
4.000%,
9/01/46
-
BAM
Insured
9/31
at
100.00
A1
$
7,243,950
7,400
Philadelphia,
Pennsylvania,
Airport
Revenue
Bonds,
Refunding
Series
2017B,
5.000%,
7/01/47,
(AMT)
7/27
at
100.00
A-
7,506,560
10,000
Westmoreland
County
Municipal
Authority,
Pennsylvania,
Municipal
Service
Revenue
Bonds,
Series
2016,
5.000%,
8/15/38
-
BAM
Insured
8/25
at
100.00
AA
10,331,000
Total
Pennsylvania
186,093,390
Puerto
Rico
-
1.6%
(1.0%
of
Total
Investments)
3,270
Children's
Trust
Fund,
Puerto
Rico,
Tobacco
Settlement
Asset-Backed
Bonds,
Refunding
Series
2002,
5.500%,
5/15/39
5/23
at
100.00
Ba1
3,270,327
155
Puerto
Rico
Public
Finance
Corporation,
Commonwealth
Appropriation
Bonds,
Series
1998A,
5.125%,
6/01/24
-
AMBAC
Insured
No
Opt.
Call
AA+
156,088
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
36
0.000%,
7/01/24
No
Opt.
Call
N/R
34,241
90
0.000%,
7/01/27
No
Opt.
Call
N/R
74,624
88
0.000%,
7/01/29
7/28
at
98.64
N/R
66,397
114
0.000%,
7/01/31
7/28
at
91.88
N/R
77,583
128
0.000%,
7/01/33
7/28
at
86.06
N/R
78,418
1,093
4.500%,
7/01/34
7/25
at
100.00
N/R
1,096,104
3,291
4.550%,
7/01/40
7/28
at
100.00
N/R
3,151,857
2,796
0.000%,
7/01/46
7/28
at
41.38
N/R
763,979
17,208
0.000%,
7/01/51
7/28
at
30.01
N/R
3,517,143
12,965
4.750%,
7/01/53
7/28
at
100.00
N/R
12,155,465
19,870
5.000%,
7/01/58
7/28
at
100.00
N/R
19,186,472
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2:
3,875
4.329%,
7/01/40
7/28
at
100.00
N/R
3,612,663
20
4.536%,
7/01/53
7/28
at
100.00
N/R
18,100
2,300
Puerto
Rico,
Highway
and
Transportation
Authority,
General
Revenue
Bonds,
Series
2022,
5.500%,
7/01/30
5/23
at
100.00
N/R
2,375,302
Total
Puerto
Rico
49,634,763
Rhode
Island
-
0.5%
(0.3%
of
Total
Investments)
7,230
Rhode
Island
Health
and
Educational
Building
Corporation,
Higher
Education
Facility
Revenue
Bonds,
Brown
University,
Series
2013,
5.000%,
9/01/43
9/23
at
100.00
AA+
7,254,509
3,320
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Lifespan
Obligated
Group,
Refunding
Series
2016,
5.000%,
5/15/39
5/26
at
100.00
BBB+
3,345,896
30,175
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A,
0.000%,
6/01/52
5/23
at
17.96
CCC-
4,982,798
Total
Rhode
Island
15,583,203
South
Carolina
-
4.2%
(2.6%
of
Total
Investments)
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Lexington
Medical
Center,
Series
2016:
7,500
5.000%,
11/01/41
5/26
at
100.00
A
7,665,600
3,180
5.000%,
11/01/46
5/26
at
100.00
A
3,224,361
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2:
21,565
0.000%,
1/01/30
-
AMBAC
Insured
No
Opt.
Call
A-
17,390,879
1,250
0.000%,
1/01/31
-
AGC
Insured
No
Opt.
Call
A-
983,387
4,610
Rock
Hill,
South
Carolina,
Combined
Utility
System
Revenue
Bonds,
Series
2016,
5.000%,
1/01/47
1/26
at
100.00
A2
4,732,856
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
South
Carolina
(continued)
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Bishop
Gadsden
Episcopal
Retirement
Community,
Series
2019A:
$
645
5.000%,
4/01/44
4/26
at
103.00
BBB-
$
582,906
625
5.000%,
4/01/49
4/26
at
103.00
BBB-
546,269
1,640
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Furman
University,
Refunding
Series
2015,
5.000%,
10/01/45
10/25
at
100.00
A1
1,682,640
4,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc,
Series
2020A,
5.000%,
12/01/46
6/30
at
100.00
A+
4,222,440
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018,
5.000%,
11/01/43
5/28
at
100.00
AA-
1,039,390
8,150
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2015A,
5.000%,
12/01/50
6/25
at
100.00
A-
8,188,794
12,760
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2014C,
5.000%,
12/01/46
12/24
at
100.00
A-
12,823,417
9,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B,
5.000%,
12/01/56
12/26
at
100.00
A-
9,046,260
2,500
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A,
4.000%,
12/01/52
6/32
at
100.00
A-
2,235,775
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022B:
8,855
4.000%,
12/01/39
6/32
at
100.00
A-
8,706,679
5,335
4.000%,
12/01/43
6/32
at
100.00
A-
5,068,890
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Series
2014A:
6,615
5.000%,
12/01/49
6/24
at
100.00
A-
6,632,993
3,455
5.500%,
12/01/54
6/24
at
100.00
A-
3,480,705
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2015:
4,140
5.250%,
7/01/55,
(Pre-refunded
7/01/25),
(AMT)
7/25
at
100.00
A+ (4)
4,300,301
860
5.250%,
7/01/55,
(Pre-refunded
7/01/25),
(AMT)
7/25
at
100.00
A1 (4)
893,299
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2018:
5,350
5.000%,
7/01/48,
(AMT)
7/28
at
100.00
A+
5,497,232
8,000
5.000%,
7/01/55,
(AMT)
7/28
at
100.00
A+
8,178,080
10,000
South
Carolina
State
Ports
Authority,
Revenue
Bonds,
Series
2019B,
5.000%,
7/01/44,
(AMT)
7/29
at
100.00
A+
10,386,400
Total
South
Carolina
127,509,553
South
Dakota
-
0.9%
(0.6%
of
Total
Investments)
11,320
South
Dakota
Board
of
Regents,
Housing
and
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2017,
4.000%,
4/01/42
10/27
at
100.00
A1
11,061,225
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Regional
Health,
Refunding
Series
2017:
2,685
4.000%,
9/01/36
9/27
at
100.00
A1
2,685,053
5,915
5.000%,
9/01/40
9/27
at
100.00
A1
6,123,918
1,000
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2014B,
5.000%,
11/01/44
11/24
at
100.00
A+
1,010,200
7,665
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2015,
5.000%,
11/01/45
11/25
at
100.00
A+
7,767,558
Total
South
Dakota
28,647,954
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tennessee
-
1.2%
(0.8%
of
Total
Investments)
$
9,000
Greeneville
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Bonds,
Ballad
Health,
Series
2018A,
5.000%,
7/01/36
7/28
at
100.00
A-
$
9,546,030
17,000
Knox
County
Health,
Educational
and
Housing
Facility
Board,
Tennessee,
Hospital
Revenue
Bonds,
Covenant
Health,
Refunding
Series
2016A,
5.000%,
1/01/42
1/27
at
100.00
A
17,391,510
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022B:
4,500
5.250%,
7/01/47,
(AMT),
(UB)
(8)
7/32
at
100.00
A1
4,808,700
2,000
5.500%,
7/01/52,
(AMT),
(UB)
(8)
7/32
at
100.00
A1
2,167,920
4,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Revenue
Bonds,
Series
2006A,
5.250%,
9/01/26
No
Opt.
Call
BBB+
4,105,160
Total
Tennessee
38,019,320
Texas
-
17.8%
(10.9%
of
Total
Investments)
1,975
Allen
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2016,
5.000%,
2/15/39
2/26
at
100.00
AAA
2,056,410
3,000
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2015,
5.000%,
11/15/39,
(AMT)
11/24
at
100.00
A+
3,021,060
Austin,
Texas,
Airport
System
Revenue
Bonds,
Series
2019B:
16,615
5.000%,
11/15/44,
(AMT)
11/29
at
100.00
A+
17,281,760
14,450
5.000%,
11/15/48,
(AMT)
11/29
at
100.00
A+
14,915,145
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2015A:
3,000
5.000%,
11/15/38
11/25
at
100.00
AA-
3,096,210
13,705
5.000%,
11/15/45,
(UB)
(8)
11/25
at
100.00
AA-
14,019,530
1,450
Austin,
Texas,
Water
and
Wastewater
System
Revenue
Bonds,
Refunding
Series
2016,
5.000%,
11/15/41
11/26
at
100.00
AA-
1,514,960
Bell
County
Water
Control
Improvement
District
1,
Texas,
Water
Revenue
Bonds,
Series
2014:
1,000
5.000%,
7/10/37,
(Pre-refunded
7/10/23)
-
BAM
Insured
7/23
at
100.00
A1 (4)
1,003,020
1,575
5.000%,
7/10/38,
(Pre-refunded
7/10/23)
-
BAM
Insured
7/23
at
100.00
A1 (4)
1,579,757
Bexar
County,
Texas,
Venue
Project
Revenue
Bonds,
Refunding
Combined
Venue
Tax
Series
2015:
1,060
5.000%,
8/15/34,
(Pre-refunded
8/15/24)
-
AGM
Insured
8/24
at
100.00
A1 (4)
1,085,472
1,160
5.000%,
8/15/35,
(Pre-refunded
8/15/24)
-
AGM
Insured
8/24
at
100.00
A1 (4)
1,187,875
2,000
Brownsville,
Texas,
Utility
System
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
9/01/31
9/25
at
100.00
A-
2,101,780
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2010:
2,945
0.000%,
1/01/36
No
Opt.
Call
A-
1,766,558
2,205
0.000%,
1/01/37
No
Opt.
Call
A-
1,234,579
2,160
0.000%,
1/01/38
No
Opt.
Call
A-
1,135,534
1,000
0.000%,
1/01/40
No
Opt.
Call
A-
465,630
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A:
2,600
5.000%,
1/01/35,
(Pre-refunded
7/01/25)
7/25
at
100.00
A- (4)
2,712,684
3,035
5.000%,
1/01/45,
(Pre-refunded
7/01/25)
7/25
at
100.00
A- (4)
3,166,537
1,000
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Idea
Public
Schools,
Series
2013,
6.000%,
8/15/43
8/23
at
100.00
A-
1,006,230
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2013A:
1,000
4.350%,
12/01/42
5/23
at
100.00
BBB-
928,630
1,000
4.400%,
12/01/47
5/23
at
100.00
BBB-
905,870
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
2,000
Corpus
Christi,
Texas,
Utility
System
Revenue
Bonds,
Improvement
Junior
Lien
Series
2013,
5.000%,
7/15/43,
(Pre-refunded
7/15/23)
7/23
at
100.00
AA- (4)
$
2,006,920
1,175
Dallas
Area
Rapid
Transit,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A,
5.000%,
12/01/36,
(Pre-refunded
12/01/24)
12/24
at
100.00
Aa2 (4)
1,210,508
1,680
Dallas
Area
Rapid
Transit,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
12/01/48,
(Pre-refunded
12/01/25)
12/25
at
100.00
Aa2 (4)
1,768,990
1,230
Danbury
Higher
Education
Authority,
Texas,
Charter
School
Revenue
Bonds,
John
H.
Wood
Jr.
Public
Charter
District,
Inspire
Academies,
Series
2013A,
6.000%,
8/15/28,
(Pre-refunded
8/15/23)
8/23
at
100.00
N/R (4)
1,238,229
200
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2014A,
5.250%,
9/01/44
9/24
at
100.00
BB+
194,264
5,000
Deer
Park
Independent
School
District,
Harris
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2022,
5.000%,
8/15/47
8/32
at
100.00
AAA
5,554,700
1,000
El
Paso
County
Hospital
District,
Texas,
General
Obligtion
Bonds,
Refunding
Series
2013,
5.000%,
8/15/33
8/23
at
100.00
BBB+
1,002,640
7,760
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
First
Tier
Series
2013A,
5.125%,
10/01/43
10/23
at
100.00
BBB+
7,781,573
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Refunding
First
Tier
Series
2020C:
10,000
4.000%,
10/01/49
4/30
at
100.00
A2
9,263,600
1,000
4.000%,
10/01/49
-
AGM
Insured
4/30
at
100.00
A1
956,100
10,760
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
4/01/53,
(Pre-
refunded
10/01/23)
10/23
at
100.00
N/R (4)
10,838,763
5,295
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2018A.
Tela
Supported,
5.000%,
10/01/48
4/28
at
100.00
AA
5,548,842
4,105
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0228,
11.750%,
11/01/44,
(Pre-refunded
10/01/23),
144A,
(IF)
(8)
10/23
at
100.00
N/R (4)
4,225,318
4,960
Gulf
Coast
Industrial
Development
Authority,
Texas,
Solid
Waste
Disposal
Revenue
Bonds,
Citgo
Petroleum
Corporation
Project,
Series
1995,
4.875%,
5/01/25,
(AMT)
5/23
at
100.00
B3
4,931,629
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015:
1,895
4.000%,
12/01/45
6/25
at
100.00
AA
1,851,377
4,480
5.000%,
12/01/45
6/25
at
100.00
AA
4,568,614
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Refunding
Bonds,
Young
Men's
Christian
Association
of
the
Greater
Houston
Area,
Series
2013A:
1,615
5.000%,
6/01/28
6/23
at
100.00
Ba1
1,584,444
3,000
5.000%,
6/01/38
6/23
at
100.00
Ba1
2,637,000
5,150
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016A,
5.000%,
8/15/41
8/26
at
100.00
AA
5,352,446
5,000
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2018A,
4.000%,
8/15/48
2/28
at
100.00
AA
4,806,450
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A:
510
0.000%,
11/15/41
-
AGM
Insured
11/31
at
62.66
A1
215,337
1,020
0.000%,
11/15/42
-
AGM
Insured
11/31
at
59.73
A1
408,306
1,255
0.000%,
11/15/43
-
AGM
Insured
11/31
at
56.93
A1
476,687
3,305
0.000%,
11/15/44
-
AGM
Insured
11/31
at
54.25
A1
1,187,685
4,460
0.000%,
11/15/45
-
AGM
Insured
11/31
at
51.48
A1
1,515,329
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
6,500
0.000%,
11/15/47
-
AGM
Insured
11/31
at
46.45
A1
$
1,979,835
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H:
105
0.000%,
11/15/24
-
NPFG
Insured,
(ETM)
No
Opt.
Call
Baa2 (4)
99,895
495
0.000%,
11/15/24
-
NPFG
Insured
No
Opt.
Call
BB+
466,146
4,390
0.000%,
11/15/29
-
NPFG
Insured
No
Opt.
Call
BB+
3,433,639
50
0.000%,
11/15/29
-
NPFG
Insured,
(ETM)
No
Opt.
Call
Baa2 (4)
41,651
105
0.000%,
11/15/30
-
NPFG
Insured,
(ETM)
No
Opt.
Call
Baa2 (4)
84,742
625
0.000%,
11/15/30
-
NPFG
Insured
No
Opt.
Call
BB+
468,038
7,570
0.000%,
11/15/31
-
NPFG
Insured
No
Opt.
Call
BB+
5,415,654
210
0.000%,
11/15/32
-
NPFG
Insured
11/31
at
94.05
BB+
140,173
260
0.000%,
11/15/33
11/31
at
88.44
BB+
162,003
2,045
0.000%,
11/15/34
-
NPFG
Insured
11/31
at
83.17
BB+
1,186,529
1,130
0.000%,
11/15/36
-
NPFG
Insured
11/31
at
73.51
BB+
563,689
4,370
0.000%,
11/15/38
-
NPFG
Insured
11/31
at
64.91
BB+
1,894,745
2,260
0.000%,
11/15/39
-
NPFG
Insured
11/31
at
60.98
BB+
913,108
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Refunding
Second
Lien
Series
2014C:
600
5.000%,
11/15/33
11/24
at
100.00
BBB-
612,756
400
5.000%,
11/15/34
11/24
at
100.00
BBB-
407,972
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A:
1,000
5.000%,
11/15/28
11/24
at
100.00
BBB
1,024,740
1,000
5.000%,
11/15/30
11/24
at
100.00
BBB
1,025,170
3,440
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Senior
Lien
Series
2001G,
0.000%,
11/15/41
-
NPFG
Insured
11/31
at
53.78
BBB
1,223,986
1,000
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Third
Lien
Series
2004A-3,
0.000%,
11/15/33
-
NPFG
Insured
11/24
at
59.10
BB
554,490
1,000
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A,
4.000%,
12/01/39
12/31
at
100.00
BBB-
912,420
5,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Technical
Operations
Center
Project,
Series
2018,
5.000%,
7/15/28,
(AMT)
No
Opt.
Call
BB-
5,075,900
380
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-
381,189
1,885
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2020A,
5.000%,
7/01/27,
(AMT)
No
Opt.
Call
B-
1,904,227
1,000
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
Improvements
Project,
Refunding
Series
2020B-2,
5.000%,
7/15/27,
(AMT)
No
Opt.
Call
B-
1,010,380
1,015
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Facilities
Department,
Refunding
Series
2014,
5.000%,
9/01/34
9/24
at
100.00
A
1,025,982
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B:
3,250
0.000%,
9/01/25
-
AMBAC
Insured
No
Opt.
Call
A1
2,992,567
4,130
0.000%,
9/01/26
-
AMBAC
Insured
No
Opt.
Call
A1
3,681,565
3,130
0.000%,
9/01/30
-
AMBAC
Insured
No
Opt.
Call
A
2,417,612
12,030
0.000%,
9/01/31
-
AMBAC
Insured
No
Opt.
Call
A
8,929,749
1,470
0.000%,
9/01/32
-
AMBAC
Insured
No
Opt.
Call
A
1,046,669
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
1,360
Jacksonville
Independent
School
District,
Cherokee
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2014,
5.000%,
2/15/39,
(Pre-refunded
2/15/24)
2/24
at
100.00
Aaa (4)
$
1,377,966
2,675
Laredo
Community
College
District,
Webb
County,
Texas,
General
Obligation
Bonds,
Series
2014,
5.000%,
8/01/34,
(Pre-refunded
8/01/24)
8/24
at
100.00
AA- (4)
2,737,381
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A:
8,000
4.000%,
8/15/37
8/25
at
100.00
AAA
8,040,560
2,275
5.000%,
8/15/40
8/25
at
100.00
AAA
2,335,674
1,750
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds
Series
2015,
5.000%,
11/01/35,
(AMT)
11/25
at
100.00
A
1,787,782
6,500
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2016,
5.000%,
5/15/46
5/26
at
100.00
A
6,695,780
9,180
Matagorda
County
Navigation
District
1,
Texas,
Collateralized
Revenue
Refunding
Bonds,
Houston
Light
and
Power
Company,
Series
1997,
5.125%,
11/01/28
-
AMBAC
Insured,
(AMT)
No
Opt.
Call
A
9,803,689
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013:
1,000
5.750%,
12/01/33
12/25
at
100.00
B1
1,025,030
3,000
6.125%,
12/01/38
12/25
at
100.00
B1
3,058,560
3,470
Midland,
Texas,
General
Obligation
Bonds,
Refunding
Series
2022B,
5.000%,
3/01/47
3/32
at
100.00
Aa1
3,805,861
2,835
Mission
Economic
Development
Corporation,
Texas,
Revenue
Bonds,
Natgasoline
Project,
Senior
Lien
Series
2018,
4.625%,
10/01/31,
(AMT),
144A
5/23
at
104.00
BB-
2,770,192
4,735
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Foundation
-
College
Station
I
LLC
-
Texas
A&M
University
Project,
Series
2014A,
5.000%,
4/01/46
-
AGM
Insured
4/24
at
100.00
A1
4,757,586
460
North
Central
Texas
Health
Facilities
Development
Corporation,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
System,
Series
1996A,
5.750%,
6/01/26
-
NPFG
Insured,
(ETM)
7/21
at
100.00
N/R (4)
478,989
3,860
North
Harris
County
Regional
Water
Authority,
Texas,
Water
Revenue
Bonds,
Refunding
Senior
Lien
Series
2013,
5.000%,
12/15/33
5/23
at
100.00
A1
3,861,505
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C:
4,030
0.000%,
9/01/43,
(Pre-refunded
9/01/31)
(7)
9/31
at
100.00
N/R (4)
5,063,655
8,470
6.750%,
9/01/45,
(Pre-refunded
9/01/31)
9/31
at
100.00
N/R (4)
11,080,115
7,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Capital
Appreciation
Series
2008I,
6.500%,
1/01/43,
(Pre-
refunded
1/01/25)
1/25
at
100.00
A1 (4)
7,386,120
2,500
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D,
0.000%,
1/01/36
-
AGC
Insured
No
Opt.
Call
A1
1,531,625
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier,
Series
2015A:
13,355
5.000%,
1/01/33
1/25
at
100.00
A2
13,802,526
1,000
5.000%,
1/01/34
1/25
at
100.00
A2
1,032,330
1,425
Port
of
Houston
Authority,
Harris
County,
Texas,
General
Obligation
Bonds,
Series
2010E,
0.000%,
10/01/35
No
Opt.
Call
AA
953,952
205
Reagan
Hospital
District
of
Reagan
County,
Texas,
Limited
Tax
Revenue
Bonds,
Series
2014A,
5.125%,
2/01/39
2/24
at
100.00
Ba1
207,089
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
2,500
San
Antonio,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Series
2012,
5.000%,
7/01/27,
(AMT)
5/23
at
100.00
A+
$
2,501,925
7,950
San
Antonio,
Texas,
Water
System
Revenue
Bonds,
Junior
Lien
Series
2022B,
5.250%,
5/15/52
5/32
at
100.00
Aa2
8,705,489
1,000
San
Antonio,
Texas,
Water
System
Revenue
Bonds,
Refunding
Junior
Lien
Series
2018A,
5.000%,
5/15/48
5/28
at
100.00
Aa2
1,047,650
1,925
Stephen
F.
Austin
State
University,
Texas,
Revenue
Bonds,
Refunding
&
Improvement
Series
2016,
5.000%,
10/15/42
10/28
at
100.00
A1
2,053,205
7,500
Tarrant
County
College
District,
Texas,
General
Obligation
Bonds,
Series
2022,
5.000%,
8/15/40
8/32
at
100.00
AAA
8,435,625
515
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Refunding
Series
2013,
5.125%,
9/01/33,
(Pre-refunded
9/01/23)
9/23
at
100.00
A3 (4)
518,183
5,675
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Methodist
Hospital
of
Dallas,
Series
2022,
4.000%,
10/01/47
4/32
at
100.00
N/R
5,448,795
2,185
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2022D,
5.500%,
11/15/47
11/32
at
100.00
AA-
2,409,137
3,195
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A,
4.000%,
7/01/53
7/32
at
100.00
A1
2,992,437
2,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Texas
Health
Resources
System,
Series
2016A,
5.000%,
2/15/41
8/26
at
100.00
AA
2,063,500
2,015
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
I,
Gas
Supply
Revenue
Bonds,
Senior
Lien
Series
2008D,
6.250%,
12/15/26
No
Opt.
Call
A-
2,105,474
530
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Refunding
Senior
Lien
Series
2019A,
4.000%,
12/31/39
12/29
at
100.00
Baa2
499,705
19,735
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
Blueridge
Transportation
Group,
LLC
SH
288
Toll
Lanes
Project,
Series
2016,
5.000%,
12/31/55,
(AMT)
12/25
at
100.00
Baa2
19,637,706
4,040
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3A
&
3B
Facility,
Series
2013,
6.750%,
6/30/43,
(AMT)
9/23
at
100.00
Baa2
4,073,209
1,335
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3A
&
3B
Facility,
Series
2013,
7.000%,
12/31/38,
(AMT)
9/23
at
100.00
Baa2
1,347,723
34,395
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Segments
3C
Project,
Series
2019,
5.000%,
6/30/58,
(AMT)
6/29
at
100.00
Baa2
34,517,446
1,200
Texas
State,
General
Obligation
Bonds,
Texas
Transportation
Commission,
Highway
Improvement
Series
2014,
5.000%,
4/01/44,
(Pre-refunded
4/01/24)
4/24
at
100.00
AAA (4)
1,220,220
2,000
Texas
State,
General
Obligation
Bonds,
Transportation
Commission
Mobility
Fund,
Refunding
Series
2014,
5.000%,
10/01/34,
(Pre-
refunded
4/01/24)
4/24
at
100.00
AAA (4)
2,034,080
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
First
Tier
Series
2015B:
8,335
0.000%,
8/15/36
8/24
at
59.60
A3
4,618,757
10,960
5.000%,
8/15/37
8/24
at
100.00
A3
11,158,486
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2015C:
$
2,100
5.000%,
8/15/33
8/24
at
100.00
Baa1
$
2,143,386
15,750
5.000%,
8/15/42
8/24
at
100.00
Baa1
15,920,573
1,875
Texas
Transportation
Commission,
State
Highway
249
System
Revenue
Bonds,
First
Tier
Toll
Series
2019A,
5.000%,
8/01/57
2/29
at
100.00
Baa3
1,875,731
Texas
Turnpike
Authority,
Central
Texas
Turnpike
System
Revenue
Bonds,
First
Tier
Series
2002A:
9,980
0.000%,
8/15/23
-
AMBAC
Insured
No
Opt.
Call
A3
9,876,408
2,020
0.000%,
8/15/23
-
AMBAC
Insured,
(ETM)
No
Opt.
Call
A3 (4)
2,000,648
3,830
0.000%,
8/15/24
-
AMBAC
Insured,
(ETM)
No
Opt.
Call
A3 (4)
3,676,953
21,170
0.000%,
8/15/24
-
AMBAC
Insured
No
Opt.
Call
A3
20,232,381
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2017A:
10,000
4.000%,
10/15/42,
(UB)
(8)
10/27
at
100.00
AAA
10,026,600
5,000
5.000%,
10/15/42
(8)
10/27
at
100.00
AAA
5,295,700
16,600
5.000%,
10/15/42,
(UB)
(8)
10/27
at
100.00
AAA
17,581,724
5,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2018B,
5.000%,
4/15/49
10/28
at
100.00
AAA
5,309,400
2,500
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021,
4.000%,
10/15/51
10/31
at
100.00
AAA
2,435,250
17,220
University
of
Houston,
Texas,
Consolidated
Revenue
Bonds,
Refunding
Series
2022A,
5.000%,
2/15/52
2/32
at
100.00
AA
18,593,984
2,490
Uptown
Development
Authority,
Houston,
Texas,
Tax
Increment
Contract
Revenue
Bonds,
Infrastructure
Improvement
Facilities,
Series
2018,
5.000%,
9/01/40
9/25
at
100.00
Baa2
2,510,518
1,735
Via
Metropolitan
Transit
Advanced
Transportation
District,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2014,
5.000%,
8/01/38,
(Pre-refunded
8/01/24)
8/24
at
100.00
AA+ (4)
1,776,536
175
Winter
Garden
Housing
Finance
Corporation,
Texas,
GNMA/FNMA
Mortgage-Backed
Securities
Program
Single
Family
Mortgage
Revenue
Bonds,
Series
1994,
6.950%,
10/01/27,
(AMT)
5/23
at
100.00
CC
175,455
780
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
Capital
Appreciation
Series
2015,
0.000%,
8/15/50,
(Pre-refunded
8/15/25)
8/25
at
35.55
Aaa (4)
257,501
Wylie
Independent
School
District,
Collin
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2015B:
8,000
0.000%,
8/15/45
8/25
at
44.15
Aaa
2,936,480
1,000
0.000%,
8/15/45,
(Pre-refunded
8/15/25)
8/25
at
44.15
Aaa (4)
409,990
1,850
0.000%,
8/15/50,
(Pre-refunded
8/15/25)
8/25
at
35.55
Aaa (4)
610,740
4,370
0.000%,
8/15/50
8/25
at
35.55
Aaa
1,241,867
Total
Texas
544,258,747
Utah
-
1.6%
(1.0%
of
Total
Investments)
15,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017A,
5.000%,
7/01/42,
(AMT)
7/27
at
100.00
A
15,417,600
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2018A:
11,750
5.000%,
7/01/43,
(AMT)
7/28
at
100.00
A
12,154,200
4,500
5.000%,
7/01/48,
(AMT)
7/28
at
100.00
A
4,619,655
9,850
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2021A,
5.000%,
7/01/46,
(AMT)
7/31
at
100.00
A
10,280,642
5,795
Utah
Charter
School
Finance
Authoirty,
Charter
School
Revenue
Bonds,
Hawthorn
Academy
Project,
Series
2016,
5.000%,
10/15/46
4/26
at
100.00
AA
5,882,620
Total
Utah
48,354,717
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virgin
Islands
-
0.4%
(0.2%
of
Total
Investments)
$
3,825
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/30
No
Opt.
Call
N/R
$
3,893,582
1,800
Virgin
Islands
Public
Finance
Authority,
Federal
Highway
Grant
Anticipation
Loan
Note
Revenue
Bonds,
Series
2015,
5.000%,
9/01/33,
144A
9/25
at
100.00
A
1,845,486
2,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2006,
5.000%,
10/01/27
-
FGIC
Insured
5/23
at
100.00
Baa2
2,021,720
2,240
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Working
Capital
Series
2014A,
5.000%,
10/01/34
-
AGM
Insured,
144A
10/24
at
100.00
A1
2,278,506
730
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Refunding
Series
2007A,
5.000%,
7/01/24
5/23
at
100.00
CC
711,348
Total
Virgin
Islands
10,750,642
Virginia
-
1.9%
(1.2%
of
Total
Investments)
550
Amherst
Industrial
Development
Authority,
Virginia,
Revenue
Bonds,
Sweet
Briar
College,
Series
2006,
5.000%,
9/01/26
5/23
at
100.00
BB
542,020
560
Arlington
County
Industrial
Development
Authority,
Virginia,
Hospital
Facility
Revenue
Bonds,
Virginia
Hospital
Center,
Series
2020,
4.000%,
7/01/45
7/30
at
100.00
A+
549,629
515
Chesapeake,
Virginia,
Transportation
System
Senior
Toll
Road
Revenue
Bonds,
Capital
Appreciation
Series
2012B,
0.000%,
7/15/40
(7)
7/28
at
100.00
BBB+
526,052
1,000
Fairfax
County
Industrial
Development
Authority,
Virginia,
Healthcare
Revenue
Bonds,
Inova
Health
System,
Series
2018A,
4.000%,
5/15/48,
(UB)
(8)
5/28
at
100.00
Aa2
963,620
1,000
Fairfax
County
Redevelopment
and
Housing
Authority,
Virginia,
Multifamily
Housing
Revenue
Bonds,
FHA-Insured
Mortgage
-
Cedar
Ridge
Project,
Series
2007,
4.850%,
10/01/48,
(AMT)
5/23
at
100.00
AA+
1,002,150
16,445
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2022A,
4.000%,
7/01/52
7/32
at
100.00
AA
15,906,097
2,300
Lynchburg
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Centra
Health
Obligated
Group,
Refunding
Series
2021,
4.000%,
1/01/47
1/32
at
100.00
Baa1
2,177,065
6,250
Northern
Virginia
Transportation
Commission,
Transportation
District
Special
Obligation
Revenue
Bonds,
Transforming
Rail
In
Virginia
Program,
Green
Series
2022,
5.000%,
6/01/47
6/32
at
100.00
AA
6,940,750
6,115
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1,
5.000%,
6/01/47
5/23
at
100.00
B-
5,740,334
15,605
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
5.000%,
12/31/56,
(AMT)
6/27
at
100.00
Baa3
15,403,539
9,625
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
5.000%,
12/31/47,
(AMT)
12/32
at
100.00
Baa1
9,709,411
Total
Virginia
59,460,667
Washington
-
3.9%
(2.4%
of
Total
Investments)
2,000
Energy
Northwest,
Washington,
Electric
Revenue
Bonds,
Columbia
Generating
Station,
Refunding
Series
2014A,
5.000%,
7/01/40
7/24
at
100.00
AA-
2,026,940
2,375
Grant
County
Public
Utility
District
2,
Washington,
Revenue
Bonds,
Priest
Rapids
Hydroelectric
Project,
Refunding
Series
2015A,
5.000%,
1/01/41,
(Pre-refunded
1/01/26)
1/26
at
100.00
Aa3 (4)
2,514,223
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Washington
(continued)
$
8,840
King
County
Public
Hospital
District
2,
Washington,
General
Obligation
Bonds,
EvergreenHealth,
Limited
Tax
2020A,
4.000%,
12/01/45
12/29
at
100.00
Aa3
$
8,374,574
2,270
Port
Everett,
Washington,
Revenue
Bonds,
Refunding
Series
2016,
5.000%,
12/01/46
6/26
at
100.00
A2
2,356,237
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2018A:
6,000
5.000%,
5/01/36,
(AMT)
5/27
at
100.00
A1
6,218,340
19,735
5.000%,
5/01/43,
(AMT)
5/27
at
100.00
A1
20,182,195
1,145
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2019,
5.000%,
4/01/44,
(AMT)
4/29
at
100.00
A1
1,196,204
4,550
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Private
Activity
Series
2022B,
5.000%,
8/01/47,
(AMT)
8/32
at
100.00
A1
4,796,246
12,550
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2021C,
5.000%,
8/01/46,
(AMT)
8/31
at
100.00
A1
13,236,611
15,000
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
4.000%,
7/01/51
7/31
at
100.00
AA
14,477,850
4,290
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2022,
5.000%,
7/01/52
7/32
at
100.00
AA
4,745,555
10,000
Spokane
Public
Facilities
District,
Washington,
Hotel,
Motel,
and
Sales
Use
Tax
Revenue
Bonds,
Series
2013A,
5.000%,
5/01/43,
(Pre-
refunded
6/01/23)
6/23
at
100.00
BBB+ (4)
10,013,000
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
A
4,000,560
11,500
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Children's
Hospital,
Series
2015A,
5.000%,
10/01/45,
(UB)
4/25
at
100.00
Aa2
11,735,405
6,200
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Series2021B.
Exchange
Purchase,
3.000%,
7/01/58
7/31
at
100.00
BBB-
4,179,172
2,410
Washington
State
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Seattle
University,
Series
2020,
4.000%,
5/01/50
5/30
at
100.00
A
2,249,711
320
Washington
State
Housing
Finance
Commission,
Revenue
Bonds,
Riverview
Retirement
Community,
Refunding
Series
2012,
5.000%,
1/01/48
5/23
at
100.00
BBB-
278,678
6,480
Washington
State,
Motor
Vehicle
Fuel
Tax
General
Obligation
Bonds,
Series
2002-03C,
0.000%,
6/01/24
-
NPFG
Insured
No
Opt.
Call
AA+
6,253,783
Total
Washington
118,835,284
West
Virginia
-
1.0%
(0.6%
of
Total
Investments)
7,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Refunding
&
Improvement
Series
2013A,
5.500%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A (4)
7,011,620
15,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Series
2018A,
5.000%,
6/01/52
6/28
at
100.00
A
15,121,800
2,000
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System
Obligated
Group,
Improvement
Series
2017A,
5.000%,
6/01/47
6/27
at
100.00
A
2,023,140
6,750
West
Virginia
Parkways
Authority,
Turnpike
Toll
Revenue
Bonds,
Senior
Lien
Series
2021,
4.000%,
6/01/43
6/31
at
100.00
AA-
6,769,102
Total
West
Virginia
30,925,662
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
-
3.1%
(1.9%
of
Total
Investments)
$
3,235
Milwaukee,
Wisconsin,
General
Obligation
Bonds,
Promissory
Note
Series
2022-B4,
5.000%,
4/01/36
-
AGM
Insured
4/32
at
100.00
A
$
3,599,973
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1:
34
0.000%,
1/01/47,
144A
(5)
No
Opt.
Call
N/R
749
30
0.000%,
1/01/48,
144A
(5)
No
Opt.
Call
N/R
624
29
0.000%,
1/01/49,
144A
(5)
No
Opt.
Call
N/R
581
29
0.000%,
1/01/50,
144A
(5)
No
Opt.
Call
N/R
524
28
0.000%,
1/01/51,
144A
(5)
No
Opt.
Call
N/R
490
36
0.000%,
1/01/52,
144A
(5)
No
Opt.
Call
N/R
594
36
0.000%,
1/01/53,
144A
(5)
No
Opt.
Call
N/R
558
35
0.000%,
1/01/54,
144A
(5)
No
Opt.
Call
N/R
510
34
0.000%,
1/01/55,
144A
(5)
No
Opt.
Call
N/R
474
33
0.000%,
1/01/56,
144A
(5)
No
Opt.
Call
N/R
443
1,811
5.500%,
7/01/56,
144A
(5)
3/28
at
100.00
N/R
1,015,789
37
0.000%,
1/01/57,
144A
(5)
No
Opt.
Call
N/R
464
36
0.000%,
1/01/58,
144A
(5)
No
Opt.
Call
N/R
429
35
0.000%,
1/01/59,
144A
(5)
No
Opt.
Call
N/R
398
34
0.000%,
1/01/60,
144A
(5)
No
Opt.
Call
N/R
367
34
0.000%,
1/01/61,
144A
(5)
No
Opt.
Call
N/R
342
33
0.000%,
1/01/62,
144A
(5)
No
Opt.
Call
N/R
315
32
0.000%,
1/01/63,
144A
(5)
No
Opt.
Call
N/R
294
31
0.000%,
1/01/64,
144A
(5)
No
Opt.
Call
N/R
274
31
0.000%,
1/01/65,
144A
(5)
No
Opt.
Call
N/R
254
33
0.000%,
1/01/66,
144A
(5)
No
Opt.
Call
N/R
254
401
0.000%,
1/01/67,
144A
(5)
No
Opt.
Call
N/R
2,777
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B:
59
0.000%,
1/01/46,
144A
(5)
No
Opt.
Call
N/R
1,398
59
0.000%,
1/01/47,
144A
(5)
No
Opt.
Call
N/R
1,283
58
0.000%,
1/01/48,
144A
(5)
No
Opt.
Call
N/R
1,213
58
0.000%,
1/01/49,
144A
(5)
No
Opt.
Call
N/R
1,141
57
0.000%,
1/01/50,
144A
(5)
No
Opt.
Call
N/R
1,048
62
0.000%,
1/01/51,
144A
(5)
No
Opt.
Call
N/R
1,093
1,607
1.000%,
7/01/51,
144A
(5)
3/28
at
100.00
N/R
933,063
62
0.000%,
1/01/52,
144A
(5)
No
Opt.
Call
N/R
1,013
61
0.000%,
1/01/53,
144A
(5)
No
Opt.
Call
N/R
951
61
0.000%,
1/01/54,
144A
(5)
No
Opt.
Call
N/R
892
60
0.000%,
1/01/55,
144A
(5)
No
Opt.
Call
N/R
835
59
0.000%,
1/01/56,
144A
(5)
No
Opt.
Call
N/R
786
59
0.000%,
1/01/57,
144A
(5)
No
Opt.
Call
N/R
738
58
0.000%,
1/01/58,
144A
(5)
No
Opt.
Call
N/R
690
57
0.000%,
1/01/59,
144A
(5)
No
Opt.
Call
N/R
653
57
0.000%,
1/01/60,
144A
(5)
No
Opt.
Call
N/R
611
56
0.000%,
1/01/61,
144A
(5)
No
Opt.
Call
N/R
569
56
0.000%,
1/01/62,
144A
(5)
No
Opt.
Call
N/R
536
55
0.000%,
1/01/63,
144A
(5)
No
Opt.
Call
N/R
503
54
0.000%,
1/01/64,
144A
(5)
No
Opt.
Call
N/R
476
54
0.000%,
1/01/65,
144A
(5)
No
Opt.
Call
N/R
445
53
0.000%,
1/01/66,
144A
(5)
No
Opt.
Call
N/R
406
693
0.000%,
1/01/67,
144A
(5)
No
Opt.
Call
N/R
4,801
5,455
Public
Finance
Authority
of
Wisconsin,
Health
Care
System
Revenue
Bonds,
Cone
Health,
Series
2022A,
4.000%,
10/01/52
10/32
at
100.00
AA-
5,175,377
5,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Agnesian
HealthCare,
Inc.,
Series
2013B,
5.000%,
7/01/36,
(Pre-
refunded
7/01/23)
7/23
at
100.00
N/R (4)
5,013,850
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
2,545
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2013B-1,
4.000%,
11/15/43
5/28
at
100.00
Aa2
$
2,438,263
10,715
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Aspirus,
Inc.
Obligated
Group,
Inc.
Project,
Series
2021,
4.000%,
8/15/46
8/31
at
100.00
A1
9,877,837
5,810
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Bellin
Memorial
Hospital
Incorporated
Series
2022B,
5.250%,
12/01/48
12/32
at
100.00
A2
6,217,281
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021:
1,690
4.000%,
10/01/41
10/28
at
102.00
N/R
1,329,016
2,000
4.000%,
10/01/61
10/28
at
102.00
N/R
1,341,300
1,930
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Agnesian
HealthCare,
Inc.,
Series
2017,
4.000%,
7/01/47
7/27
at
100.00
A+
1,803,701
10,225
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2016A,
4.500%,
11/15/39
5/26
at
100.00
Aa2
10,416,412
1,870
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Beloit
Health
System,
Inc.,
Series
2016,
4.000%,
7/01/46
7/26
at
100.00
A
1,767,917
4,220
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Children's
Hospital
of
Wisconsin,
Inc.,
Series
2017,
4.000%,
8/15/42
8/27
at
100.00
Aa3
4,113,487
18,440
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A,
5.000%,
2/15/42
2/26
at
100.00
BBB+
18,561,520
1,525
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021,
4.000%,
1/01/57
1/27
at
103.00
N/R
1,032,440
10,235
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
John's
Communities
Inc.,
Refunding
Series
2022A,
5.000%,
4/01/52
4/32
at
100.00
AA
10,934,767
11,270
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ThedaCare
Inc,
Series
2019,
4.000%,
12/15/49
12/29
at
100.00
A1
10,694,329
Total
Wisconsin
96,300,118
Total
Municipal
Bonds
(cost
$4,939,577,190)
4,977,546,856
Shares
Description
(1)
Value
X
421,179
INVESTMENT
COMPANIES
-
0.0%
(0.0%
of
Total
Investments)
X
421,179
8,812
BlackRock
MuniHoldings
Fund
Inc
$
104,070
32,524
Invesco
Quality
Municipal
Income
Trust
317,109
Nuveen
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Coupon
(9)
Reference
Rate
(9)
Spread
(9)
Maturity
(10)
Ratings
(3)
Value
X
31,350
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0.0%
(0.0%
of
Total
Investments)
(9)
X
31,350
Hotels,
Restaurants
&
Leisure
-
0.0%
(0.0%
of
Total
Investments)
$
31
Lombard
Starwood
Westin
Hotel
Conference
Center
and
Hotel
Project
Revenue
Bonds
,
(cash
7.500%,
PIK
7.500%)(6),(11)
7.500%
N/A
N/A
12/31/23
N/R
$
31,350
Total
Hotels,
Restaurants
&
Leisure
31,350
Total
Variable
Rate
Senior
Loan
Interests
(cost
$31,350)
31,350
Total
Long-Term
Investments
(cost
$4,940,139,151)
4,977,999,385
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
SHORT-TERM
INVESTMENTS
-
0.5% (0.3%
of
Total
Investments)
X
16,400,000
MUNICIPAL
BONDS
-
0.5%
(0.3%
of
Total
Investments)
X
16,400,000
Minnesota
-
0.1%
(0.0%
of
Total
Investments)
$
2,400
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Fairview
Health
Services,
Series
2018A,
3.750%,
11/15/48,
(Mandatory
Put
4/28/2023)
(12)
4/23
at
100.00
AA-
$
2,400,000
Total
Minnesota
2,400,000
Missouri
-
0.1%
(0.1%
of
Total
Investments)
4,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Washington
University,
Variable
Rate
Demand
Obligations,
Series
2000B,
3.800%,
3/01/40,
(Mandatory
Put
4/28/2023)
(12)
5/23
at
100.00
AA+
4,000,000
Total
Missouri
4,000,000
New
York
-
0.3%
(0.2%
of
Total
Investments)
10,000
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2020I-3,
4.000%,
11/01/60,
(Mandatory
Put
5/5/2023)
(12)
4/23
at
100.00
Aa2
10,000,000
Total
New
York
10,000,000
Total
Short-Term
Investments
(cost
$16,400,000)
16,400,000
Total
Investments
(cost
$4,956,539,151
)
-
163.2%
4,994,399,385
Floating
Rate
Obligations
-
(2.9)%
(90,020,000)
AMTP
Shares,
Net-
(23.8)%(13)
(727,239,131)
MFP
Shares,
Net
-
(22.2)%(14)
(678,499,765)
VRDP
Shares,
Net-
(16.5)%(15)
(503,473,283)
Other
Assets
&
Liabilities,
Net
-
2.2%
64,692,044
Net
Assets
Applicable
to
Common
Shares
-
100%
$
3,059,859,250
(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.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
Ratings
below
BBB
by
Standard
&
Poor’s,
Baa
by
Moody’s
or
BBB
by
Fitch
are
considered
to
be
below
investment
grade.
Holdings
designated
N/R
are
not
rated
by
any
of
these
national
rating
agencies.
(4)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(5)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(6)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(7)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(8)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(9)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
These
floating
lending
rates
are
generally
(i)
the
lending
rate
referenced
by
the
London
Inter-Bank
Offered
Rate
("LIBOR"),
or
(ii)
the
prime
rate
offered
by
one
or
more
major
United
States
banks.
Senior
loans
may
be
considered
restricted
in
that
the
Fund
ordinarily
is
contractually
obligated
to
receive
approval
from
the
agent
bank
and/or
borrower
prior
to
the
disposition
of
a
senior
loan.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(10)
Senior
loans
generally
are
subject
to
mandatory
and/or
optional
prepayment.
Because
of
these
mandatory
prepayment
conditions
and
because
there
may
be
significant
economic
incentives
for
a
borrower
to
prepay,
prepayments
of
senior
loans
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(11)
Senior
loan
received
as
part
of
the
bondholder
funding
agreement
during
March
2022
for
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
First
Tier
Series
2018A-1,
0.000%,
7/01/56,
144A.
(12)
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.
(13)
AMTP
Shares,
Net
as
a
percentage
of
Total
Investments
is
14.6%
(14)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
13.6%.
(15)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
10.1%.
144A
Investment
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
investments
may
only
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
N/A
Not
Applicable.
PIK
Payment-in-kind
(“PIK”)
security. Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both. The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
162.1%
(100.0%
of
Total
Investments)
X
6,170,811,121
MUNICIPAL
BONDS
-
162.1%
(100.0%
of
Total
Investments)
X
6,170,811,121
Alabama
-
1.2%
(0.7%
of
Total
Investments)
$
15,520
Alabama
Special
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Ascension
Health,
Series
2016B,
5.000%,
11/15/46
5/26
at
100.00
Aa2
$
15,867,027
5,920
Autauga
County
Board
of
Education,
Alabama,
Special
Tax
Warrants,
Series
2021,
4.000%,
4/01/51
10/31
at
100.00
AA-
5,620,626
865
Birmingham
Airport
Authority,
Alabama,
Airport
Revenue
Bonds,
Series
2020,
4.000%,
7/01/35
-
BAM
Insured
7/30
at
100.00
A3
893,190
4,250
Infirmary
Health
System
Special
Care
Facilities
Financing
Authority
of
Mobile,
Alabama,
Revenue
Bonds,
Infirmary
Health
System,
Inc.,
Series
2016A,
5.000%,
2/01/41
2/26
at
100.00
A-
4,317,448
4,900
Mobile
Spring
Hill
College
Educational
Building
Authority,
Alabama,
Revenue
Bonds,
Spring
Hill
College
Project,
Series
2015,
5.875%,
4/15/45
4/25
at
100.00
N/R
4,878,881
1,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
3,
Fixed
Rate
Series
2022A-1,
5.500%,
1/01/53,
(Mandatory
Put
12/01/29)
9/29
at
100.10
A1
1,080,950
7,270
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
5.000%,
5/01/53,
(Mandatory
Put
8/01/28)
5/28
at
100.34
A2
7,578,975
5,310
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A,
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R
4,699,350
Total
Alabama
44,936,447
Alaska
-
0.0%
(0.0%
of
Total
Investments)
495
Northern
Tobacco
Securitization
Corporation,
Alaska,
Tobacco
Settlement
Asset-Backed
Bonds,
Senior
Series
2021A
Class
1,
4.000%,
6/01/50
6/31
at
100.00
BBB+
438,055
Total
Alaska
438,055
Arizona
-
1.9%
(1.2%
of
Total
Investments)
1,025
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Academies
of
Math
&
Science
Projects,
Series
2017A,
5.000%,
7/01/51
7/27
at
100.00
AA-
1,034,389
7,115
Lake
Havasu
City,
Arizona,
Wastewater
System
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015B,
5.000%,
7/01/43
-
AGM
Insured
7/25
at
100.00
A1
7,292,306
1,315
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2019A,
5.000%,
9/01/42
9/28
at
100.00
A2
1,353,819
8,895
Maricopa
County
Industrial
Development
Authority,
Arizona,
Hospital
Revenue
Bonds,
HonorHealth,
Series
2021A,
4.000%,
9/01/51
3/31
at
100.00
A2
8,290,051
5,135
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Refunding
Series
2016A,
4.000%,
1/01/36
1/27
at
100.00
AA-
5,187,685
3,130
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Series
2017D,
4.000%,
1/01/48
7/30
at
100.00
AA-
2,939,383
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Junior
Lien
Series
2019A:
6,550
4.000%,
7/01/49
7/29
at
100.00
A+
6,338,173
1,500
5.000%,
7/01/49
7/29
at
100.00
A+
1,574,895
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
Phoenix
Civic
Improvement
Corporation,
Arizona,
Revenue
Bonds,
Civic
Plaza
Expansion
Project,
Series
2005B:
$
6,545
5.500%,
7/01/37
-
FGIC
Insured
No
Opt.
Call
AA
$
8,126,796
10,000
5.500%,
7/01/40
-
FGIC
Insured
No
Opt.
Call
AA
12,271,400
3,035
Pima
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Tucson
Medical
Center,
Series
2021A,
4.000%,
4/01/46
4/31
at
100.00
A
2,796,054
3,000
Queen
Creek,
Arizona,
Excise
Tax
&
State
Shared
Revenue
Obligation
Bonds,
Series
2018A,
5.000%,
8/01/47
8/28
at
100.00
AA+
3,213,210
11,080
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
BBB+
11,494,392
Total
Arizona
71,912,553
California
-
6.8%
(4.2%
of
Total
Investments)
3,335
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series
2022C,
5.000%,
10/01/52
-
AGM
Insured
10/32
at
100.00
BBB
3,627,913
22,880
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Senior
Lien
Series
1999A,
0.000%,
10/01/32
-
NPFG
Insured
No
Opt.
Call
A-
16,652,750
4,225
Alameda
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Series
2005B,
0.000%,
8/01/28
-
AGM
Insured
No
Opt.
Call
AA
3,634,979
3,450
Antelope
Valley
Joint
Union
High
School
District,
Los
Angeles
and
Kern
Counties,
California,
General
Obligation
Bonds,
Series
2004B,
0.000%,
8/01/29
-
NPFG
Insured
No
Opt.
Call
Aa3
2,858,256
10,000
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Series
2014F-1,
5.000%,
4/01/54,
(Pre-refunded
4/01/24)
4/24
at
100.00
Aa3 (4)
10,178,500
8,000
Beverly
Hills
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
2008
Election
Series
2009,
0.000%,
8/01/33
No
Opt.
Call
AA+
5,840,800
Burbank
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2013,
Series
2015A:
2,250
0.000%,
8/01/32,
(Pre-refunded
2/01/25)
(5)
2/25
at
100.00
A+ (4)
2,302,538
1,350
0.000%,
8/01/33,
(Pre-refunded
2/01/25)
(5)
2/25
at
100.00
A+ (4)
1,381,522
125
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-1,
5.000%,
6/01/49
6/30
at
100.00
BBB+
126,268
California
Educational
Facilities
Authority,
Revenue
Refunding
Bonds,
Loyola
Marymount
University,
Series
2001A:
3,255
0.000%,
10/01/23
-
NPFG
Insured
No
Opt.
Call
A2
3,208,063
5,890
0.000%,
10/01/24
-
NPFG
Insured
No
Opt.
Call
A2
5,610,755
7,615
0.000%,
10/01/25
-
NPFG
Insured
No
Opt.
Call
A2
7,031,158
1,350
0.000%,
10/01/39
-
NPFG
Insured
No
Opt.
Call
A2
663,957
530
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Saint
Joseph
Health
System,
Series
2013A,
5.000%,
7/01/37,
(Pre-refunded
7/01/23)
7/23
at
100.00
A (4)
531,458
1,500
California
Municipal
Finance
Authority,
Revenue
Bonds,
Eisenhower
Medical
Center,
Refunding
Series
2017A,
5.000%,
7/01/42
7/27
at
100.00
BBB-
1,537,155
965
California
Public
Finance
Authority,
Revenue
Bonds,
Henry
Mayo
Newhall
Hospital,
Series
2017,
5.000%,
10/15/47
10/26
at
100.00
BBB-
968,484
2,930
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2013I,
5.000%,
11/01/38
11/23
at
100.00
A+
2,952,092
5,000
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2017,
4.000%,
8/01/36
8/26
at
100.00
AA-
5,109,800
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
5
California
State,
General
Obligation
Bonds,
Series
2004,
5.000%,
4/01/31
-
AMBAC
Insured
5/23
at
100.00
AA-
$
5,010
9,130
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A,
5.250%,
12/01/56,
144A
6/26
at
100.00
BB
8,754,118
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
63
5.750%,
7/01/30
(6),(7)
1/22
at
100.00
N/R
62,744
80
5.750%,
7/01/35
(6),(7)
1/22
at
100.00
N/R
80,544
97
5.500%,
7/01/39
(6),(7)
1/22
at
100.00
N/R
96,653
10,445
Castaic
Lake
Water
Agency,
California,
Certificates
of
Participation,
Water
System
Improvement
Project,
Series
1999a,
0.000%,
8/01/29
-
AMBAC
Insured
No
Opt.
Call
AA+
8,595,086
4,775
Clovis
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
Series
2001A,
0.000%,
8/01/25
-
FGIC
Insured,
(ETM)
No
Opt.
Call
Baa2 (4)
4,478,329
3,330
Contra
Costa
Community
College
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Election
of
2006,
Series
2013,
5.000%,
8/01/38,
(Pre-refunded
8/01/23)
8/23
at
100.00
AA+ (4)
3,344,852
7,775
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015A,
0.000%,
1/15/34
-
AGM
Insured
No
Opt.
Call
BBB+
5,496,847
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A:
910
0.000%,
1/15/42
(5)
1/31
at
100.00
Baa2
1,062,380
3,350
5.750%,
1/15/46,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2 (4)
3,415,157
8,350
6.000%,
1/15/49,
(Pre-refunded
1/15/24)
1/24
at
100.00
Baa2 (4)
8,525,016
118,565
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
13,150,044
5,000
Huntington
Beach
Union
High
School
District,
Orange
County,
California,
General
Obligation
Bonds,
Series
2007,
0.000%,
8/01/32
-
FGIC
Insured
No
Opt.
Call
AA-
3,772,400
3,040
Kern
Community
College
District,
California,
General
Obligation
Bonds,
Safety,
Repair
&
Improvement,
Election
2002
Series
2006,
0.000%,
11/01/23
-
AGM
Insured
No
Opt.
Call
AA
2,990,418
1,500
Lincoln
Unified
School
District,
Placer
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
1,
Series
2005,
0.000%,
9/01/26
-
AMBAC
Insured
No
Opt.
Call
N/R
1,323,210
995
Los
Angeles
Department
of
Water
and
Power,
California,
Electric
Plant
Revenue
Bonds,
Series
1994,
5.375%,
2/15/34,
(ETM)
5/23
at
100.00
N/R (4)
996,562
2,490
Madera
Unified
School
District,
Madera
County,
California,
General
Obligation
Bonds,
Election
2002
Series
2005,
0.000%,
8/01/27
-
NPFG
Insured
No
Opt.
Call
Baa2
2,181,937
10,335
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
AA
9,518,638
5,500
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009B,
6.500%,
11/01/39
No
Opt.
Call
BBB+
6,453,205
120
Mt.
Diablo
Hospital
District,
California,
Insured
Hospital
Revenue
Bonds,
Series
1993A,
5.125%,
12/01/23
-
AMBAC
Insured,
(ETM)
10/21
at
100.00
N/R (4)
121,260
14,100
New
Haven
Unified
School
District,
California,
General
Obligation
Bonds,
Refunding
Series
2009,
0.000%,
8/01/34
-
AGC
Insured
No
Opt.
Call
Aa3
9,429,939
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
2,500
Norwalk
La
Mirada
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2002
Series
2005B,
0.000%,
8/01/29
No
Opt.
Call
Aa3
$
2,073,750
1,865
Ontario
Redevelopment
Financing
Authority,
San
Bernardino
County,
California,
Revenue
Bonds,
Redevelopment
Project
1,
Refunding
Series
1995,
7.400%,
8/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2
1,931,058
Orange
County
Water
District,
California,
Revenue
Certificates
of
Participation,
Series
2003B:
1,745
5.000%,
8/15/34,
(Pre-refunded
8/15/32)
-
NPFG
Insured
8/32
at
100.00
N/R (4)
2,120,262
1,490
5.000%,
8/15/34
-
NPFG
Insured,
(ETM)
5/21
at
100.00
Aa1 (4)
1,751,823
1,000
Pajaro
Valley
Unified
School
District,
Santa
Cruz
County,
California,
General
Obligation
Bonds,
Series
2005B,
0.000%,
8/01/29
-
AGM
Insured
No
Opt.
Call
Aa3
821,370
2,000
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
of
2004,
Series
2007A,
0.000%,
8/01/24
-
NPFG
Insured
No
Opt.
Call
BBB-
1,911,040
9,320
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Series
2009A,
0.000%,
8/01/33
-
AGC
Insured
No
Opt.
Call
BBB-
6,470,130
520
Pomona,
California,
GNMA/FHLMC
Collateralized
Single
Family
Mortgage
Revenue
Refunding
Bonds,
Series
1990B,
7.500%,
8/01/23,
(ETM)
No
Opt.
Call
AA+ (4)
525,221
1,800
Rialto
Unified
School
District,
San
Bernardino
County,
California,
General
Obligation
Bonds,
2010
Election
Series
2011A,
0.000%,
8/01/28
No
Opt.
Call
Aa3
1,529,532
760
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)
761,528
515
San
Bernardino,
California,
GNMA
Mortgage-Backed
Securities
Program
Single
Family
Mortgage
Revenue
Refunding
Bonds,
Series
1990A,
7.500%,
5/01/23,
(ETM)
No
Opt.
Call
AA+ (4)
515,000
4,080
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Subordinate
Series
2017A,
5.000%,
7/01/47
7/27
at
100.00
A
4,269,230
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2014A:
10,595
5.000%,
1/15/44,
(Pre-refunded
1/15/25)
1/25
at
100.00
A (4)
10,997,398
32,725
5.000%,
1/15/50,
(Pre-refunded
1/15/25)
1/25
at
100.00
A (4)
33,967,896
2,965
San
Juan
Unified
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
Series
2004A,
0.000%,
8/01/28
-
NPFG
Insured
No
Opt.
Call
A+
2,518,204
4,005
San
Mateo
Union
High
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Election
of
2000,
Series
2002B,
0.000%,
9/01/26
-
FGIC
Insured
No
Opt.
Call
AA+
3,643,188
15,750
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
1997
Election
Series
2012G,
0.000%,
8/01/39
-
AGM
Insured
No
Opt.
Call
AA
7,762,230
San
Ysidro
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2015:
5,000
0.000%,
8/01/46
8/25
at
32.80
A3
1,475,150
6,570
0.000%,
8/01/47
8/25
at
30.90
A3
1,825,343
2,630
Union
Elementary
School
District,
Santa
Clara
County,
California,
General
Obligation
Bonds,
Series
2001B,
0.000%,
9/01/25
-
FGIC
Insured
No
Opt.
Call
Baa2
2,454,263
Total
California
257,394,413
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
-
14.2%
(8.7%
of
Total
Investments)
$
1,345
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2019,
5.000%,
12/01/51
12/24
at
102.00
N/R
$
1,181,448
6,600
Aerotropolis
Regional
Transportation
Authority,
Colorado,
Special
Revenue
Bonds,
Series
2021,
4.375%,
12/01/52
12/26
at
103.00
N/R
4,997,718
2,500
Arapahoe
County
Water
and
Wastewater
Authority,
Colorado,
Revenue
Bonds,
Refunding
Series
2019,
4.000%,
12/01/38
12/29
at
100.00
AA
2,542,675
Arvada,
Colorado,
Water
Enterprise
Revenue
Bonds,
Series
2022:
1,610
4.000%,
12/01/48
12/32
at
100.00
AA+
1,595,413
2,220
4.000%,
12/01/52
12/32
at
100.00
AA+
2,172,026
Aurora,
Colorado,
Sewer
Improvement
Revenue
Bonds,
Seam
Facility
and
Other
System
Improvements
Project,
First
Lien
Series
2021:
3,315
4.000%,
8/01/46
8/31
at
100.00
AA+
3,324,779
2,000
4.000%,
8/01/51
8/31
at
100.00
AA+
1,946,000
9,000
Boulder
Valley
School
District
RE2,
Boulder
County,
Colorado,
General
Obligation
Bonds,
Series
2019A,
4.000%,
12/01/48
6/29
at
100.00
AA+
8,848,080
500
Brighton
Crossing
Metropolitan
District
6,
Brighton,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3,
5.000%,
12/01/50
12/25
at
103.00
N/R
428,150
1,150
Castle
Oaks
Metropolitan
District
3,
Castle
Rock,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2020,
4.000%,
12/01/50
-
AGM
Insured
12/30
at
100.00
A1
1,059,656
1,060
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Improvement
Series
2018,
5.250%,
12/01/48
12/23
at
103.00
N/R
994,821
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017:
1,575
5.000%,
12/01/37,
144A
5/23
at
103.00
N/R
1,497,526
3,620
5.000%,
12/01/47,
144A
5/23
at
103.00
N/R
3,285,258
1,250
Central
Platte
Valley
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2013A,
5.375%,
12/01/33,
(Pre-
refunded
12/01/23)
12/23
at
100.00
BBB (4)
1,264,612
115
Central
Platte
Valley
Metropolitan
District,
Colorado,
General
Obligation
Bonds,
Refunding
Series
2014,
5.000%,
12/01/43,
(Pre-
refunded
12/01/23)
12/23
at
100.00
BB+ (4)
115,967
1,700
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Skyview
Academy
Project,
Series
2014,
5.375%,
7/01/44,
144A
7/24
at
100.00
BB
1,690,293
Colorado
Health
Facilities
Authority,
Colorado,
Health
Facilities
Revenue
Bonds,
The
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Refunding
Series
2017:
2,005
5.000%,
6/01/34,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
2,192,628
4,615
5.000%,
6/01/35,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
5,046,871
7,205
5.000%,
6/01/36,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
7,879,244
8,715
5.000%,
6/01/37,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
9,530,550
4,105
5.000%,
6/01/42,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
4,489,146
8,545
5.000%,
6/01/47,
(Pre-refunded
6/01/27)
6/27
at
100.00
N/R (4)
9,344,641
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2021A:
9,750
4.000%,
11/15/46
11/31
at
100.00
AA
9,254,407
31,605
4.000%,
11/15/50
11/31
at
100.00
AA
29,385,697
3,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Adventist
Health
System/Sunbelt
Obligated
Group,
Series
2018A,
5.000%,
11/15/48
5/28
at
100.00
AA
3,134,580
5,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Children's
Hospital
Colorado
Project,
Series
2013A,
5.000%,
12/01/36
12/23
at
100.00
A+
4,985,300
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Christian
Living
Neighborhoods
Project,
Refunding
Series
2016:
$
1,000
5.000%,
1/01/31
1/24
at
102.00
N/R
$
945,650
4,290
5.000%,
1/01/37
1/24
at
102.00
N/R
3,794,462
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2:
21,140
5.000%,
8/01/44
8/29
at
100.00
Baa1
21,837,620
28,740
4.000%,
8/01/49
8/29
at
100.00
Baa1
26,066,030
3,410
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A,
5.500%,
11/01/47
11/32
at
100.00
Baa1
3,683,721
4,600
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Covenant
Living
Communities
&
Services,
Series
2020A,
4.000%,
12/01/50
12/27
at
103.00
A-
3,770,068
1,000
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Evangelical
Lutheran
Good
Samaritan
Society
Project,
Series
2013,
5.625%,
6/01/43,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R (4)
1,001,840
750
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Frasier
Meadows
Project,
Refunding
&
Improvement
Series
2017A,
5.250%,
5/15/37
5/27
at
100.00
BBB-
745,568
1,500
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Refunding
Series
2015B,
4.000%,
9/01/34
9/25
at
100.00
Baa1
1,506,285
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Parkview
Medical
Center,
Series
2020A:
7,080
4.000%,
9/01/45
9/30
at
100.00
Baa1
6,364,424
3,000
4.000%,
9/01/50
9/30
at
100.00
Baa1
2,533,890
4,275
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Sanford
Health,
Series
2019A,
4.000%,
11/01/39
11/29
at
100.00
A+
4,028,931
3,300
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
SCL
Health
System,
Refunding
Series
2019A,
4.000%,
1/01/38
1/30
at
100.00
AA+
3,341,613
10,265
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
SCL
Health
System,
Refunding
Series
2019B,
4.000%,
1/01/40
1/30
at
100.00
AA+
10,288,404
4,150
Colorado
High
Performance
Transportation
Enterprise,
C-470
Express
Lanes
Revenue
Bonds,
Senior
Lien
Series
2017,
5.000%,
12/31/56
12/24
at
100.00
BBB
4,050,566
Colorado
International
Center
Metropolitan
District
14,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2018:
1,895
5.625%,
12/01/32
12/23
at
103.00
N/R
1,889,865
2,660
5.875%,
12/01/46
12/23
at
103.00
N/R
2,606,667
Colorado
School
of
Mines
Board
of
Trustees,
Golden,
Colorado,
Institutional
Enterprise
Revenue
Bonds,
Series
2017B:
2,000
5.000%,
12/01/42
12/27
at
100.00
A+
2,129,220
1,225
5.000%,
12/01/47
12/27
at
100.00
A+
1,296,038
1,500
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2016B,
5.000%,
3/01/41,
(Pre-refunded
3/01/27)
3/27
at
100.00
A+ (4)
1,633,440
2,000
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017A,
4.000%,
3/01/40
9/27
at
100.00
AA
1,990,480
6,500
Colorado
State
Board
of
Governors,
Colorado
State
University
Auxiliary
Enterprise
System
Revenue
Bonds,
Refunding
Series
2017E,
4.000%,
3/01/43
3/28
at
100.00
AA
6,392,750
7,000
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2019O,
4.000%,
3/15/44
3/29
at
100.00
AA-
6,941,340
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
2,550
Colorado
State,
Certificates
of
Participation,
Lease
Purchase
Agreement
Department
of
Transportation
Second
Amended
&
Restated
Headquaters
Facilities,
Refunding
Series
2020,
4.000%,
6/15/41
6/30
at
100.00
AA-
$
2,556,885
5,000
Colorado
State,
Certificates
of
Participation,
Rural
Series
2018A,
4.000%,
12/15/35
12/28
at
100.00
AA-
5,153,100
Commerce
City,
Colorado,
Sales
and
Use
Tax
Revenue
Bonds,
Series
2016:
7,115
5.000%,
8/01/41,
(Pre-refunded
8/01/26)
8/26
at
100.00
A1 (4)
7,626,711
1,000
5.000%,
8/01/46,
(Pre-refunded
8/01/26)
8/26
at
100.00
A1 (4)
1,071,920
1,250
Copper
Ridge
Metropolitan
District,
Colorado
Springs,
Colorado,
Tax
Increment
and
Sales
Tax
Supported
Revenue
Bonds,
Series
2019,
5.000%,
12/01/39
12/24
at
103.00
N/R
1,163,225
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022B:
2,930
5.000%,
11/15/47
11/32
at
100.00
AA-
3,217,814
1,700
5.250%,
11/15/53
11/32
at
100.00
AA-
1,892,678
12,900
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
11/15/43
11/23
at
100.00
A+
12,953,922
2,500
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2018B,
5.000%,
12/01/48
12/28
at
100.00
A+
2,616,575
5,000
Denver
City
and
County,
Colorado,
Dedicated
Tax
Revenue
Bonds,
Series
2021A,
4.000%,
8/01/51
8/31
at
100.00
AA-
4,865,000
Denver
Convention
Center
Hotel
Authority,
Colorado,
Revenue
Bonds,
Convention
Center
Hotel,
Refunding
Senior
Lien
Series
2016:
5,120
5.000%,
12/01/32
12/26
at
100.00
BBB-
5,275,597
2,935
5.000%,
12/01/35
12/26
at
100.00
BBB-
2,982,517
1,800
5.000%,
12/01/40
12/26
at
100.00
BBB-
1,799,910
345
Denver
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
9th
and
Colorado
Urban
Redevelopement
Area,
Series
2018A,
5.250%,
12/01/39,
144A
12/23
at
103.00
N/R
348,567
1,500
DIATC
Metropolitan
District,
Commerce
City,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Series
2019,
5.000%,
12/01/49,
144A
9/24
at
103.00
N/R
1,399,755
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B:
45,540
0.000%,
9/01/30
-
NPFG
Insured
No
Opt.
Call
A
35,866,393
16,635
0.000%,
9/01/32
-
NPFG
Insured
No
Opt.
Call
A
12,074,515
49,250
0.000%,
9/01/33
-
NPFG
Insured
No
Opt.
Call
A
34,262,240
E-470
Public
Highway
Authority,
Colorado,
Toll
Revenue
Bonds,
Series
2004A:
9,310
0.000%,
9/01/28
-
NPFG
Insured
No
Opt.
Call
A
7,862,202
2,900
0.000%,
9/01/34
-
NPFG
Insured
No
Opt.
Call
A
1,925,281
18,500
0.000%,
3/01/36
-
NPFG
Insured
No
Opt.
Call
A
11,253,920
5,950
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
6,004,800
3,850
Firestone,
Colorado,
Water
Enterprise
Revenue
Bones,
Series
2020,
4.000%,
12/01/49
-
BAM
Insured
12/30
at
100.00
AA
3,641,099
10,650
Gunnison
Watershed
School
District
RE1J,
Gunnison
and
Saguache
Counties,
Colorado,
General
Obligation
Bonds,
Series
2023,
5.000%,
12/01/47
12/32
at
100.00
Aa2
11,863,248
Johnstown,
Colorado,
Wastewater
Revenue
Bonds,
Series
2021:
5,700
4.000%,
12/01/46
-
AGM
Insured
12/31
at
100.00
AA
5,547,468
1,440
4.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
AA
1,371,341
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
2,000
Leyden
Rock
Metropolitan
District,
Arvada,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax,
Refunding
&
Improvement
Series
2021,
4.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
A3
$
1,873,340
1,000
Lorson
Ranch
Metropolitan
District
2,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2016,
5.000%,
12/01/36
12/26
at
100.00
BBB+
1,034,380
1,000
Louisville,
Boulder
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax,
Series
2017,
4.000%,
12/01/36
12/26
at
100.00
AA+
1,029,240
1,730
Meridian
Ranch
Metropolitan
District
2018,
Subdistrict,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
6.750%,
12/01/52
12/27
at
103.00
N/R
1,710,209
1,250
North
Pine
Vistas
Metropolitan
District
3,
Castle
Pines,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Senior
Series
2021A,
4.000%,
12/01/51
-
AGM
Insured
12/31
at
100.00
A1
1,176,663
1,085
North
Range
Metropolitan
District
2,
Adams
County,
Colorado
,
Limited
Tax
General
Obligation
Bonds,
Refunding
Special
Revenue
&
Improvement
Series
2017A,
5.750%,
12/01/47
5/23
at
103.00
N/R
1,093,062
5,000
Northern
Colorado
Water
Conservancy
District
Building
Corporation,
Certificates
of
Participation,
Refunding
Series
2021,
4.000%,
7/01/51
7/31
at
100.00
AA+
4,865,250
6,115
Northern
Colorado
Water
Conservancy
District,
Certificates
of
Participation,
Series
2022,
5.250%,
7/01/52
7/31
at
100.00
AA+
6,679,537
1,220
Overlook
Metropolitan
District,
Parker,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimted
Tax
Refunding
Series
2021A,
4.000%,
12/01/51
-
BAM
Insured
12/31
at
100.00
Baa3
1,248,182
20,000
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
12/01/45
12/25
at
100.00
A
20,330,400
4,055
Park
Creek
Metropolitan
District,
Colorado,
Senior
Limited
Property
Tax
Supported
Revenue
Bonds,
Series
2019A,
4.000%,
12/01/39
-
AGM
Insured
12/29
at
100.00
A
4,083,466
3,000
Parker
Water
and
Sanitation
District,
Douglas
County,
Colorado,
Water
and
Sewer
Enterprise
Revenue
Bonds,
Refunding
&
Improvement
Series
2022,
4.000%,
11/01/47
11/32
at
100.00
AA+
2,961,150
600
Pueblo
Urban
Renewal
Authority,
Colorado,
Tax
Increment
Revenue
Bonds,
EVRAZ
Project,
Series
2021A,
4.750%,
12/01/45,
144A
12/30
at
100.00
N/R
342,000
Rampart
Range
Metropolitan
District
1,
Lone
Tree,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017:
8,765
5.000%,
12/01/42
12/27
at
100.00
A1
9,180,812
3,600
5.000%,
12/01/47
12/27
at
100.00
A1
3,727,944
2,350
Roaring
Fork
Transporation
Authority,
Colorado,
Property
Tax
Revenue
Bonds,
Series
2021A,
4.000%,
12/01/46
12/31
at
100.00
AA-
2,301,543
850
Sierra
Ridge
Metropolitan
District
2,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
Bonds,
Series
2022,
5.000%,
12/01/52
-
AGM
Insured
12/32
at
100.00
A1
872,950
1,000
Sky
Ranch
Community
Authority
Board
(Arapahoe
County,
Colorado),
Limited
Tax
Supported
District
No.
3
Senior
Bonds
(Tax-Exempt
Fixed
Rate),
Series
2022A
and
Subordinate
Bonds
(Tax-Exempt
Fixed
Rate),
Series
2022B(3),
5.750%,
12/01/52,
144A
9/27
at
103.00
N/R
940,560
1,625
South
Maryland
Creek
Ranch
Metropolitan
District,
Summitt
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax
Series
2018A,
5.625%,
12/01/47
12/23
at
103.00
N/R
1,586,244
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,000
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
improvement
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R
$
904,710
3,250
Thompson
Crossing
Metropolitan
District
2,
Johnstown,
Larimer
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Series
2016B,
5.000%,
12/01/46
-
AGM
Insured
12/26
at
100.00
AA
3,401,612
Thompson
Crossing
Metropolitan
District
6,
Larimer
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Convertible
to
Unlimited
Tax
Series
2020:
760
3.000%,
12/01/30,
144A
No
Opt.
Call
Ba2
643,842
1,300
5.000%,
12/01/44,
144A
12/30
at
100.00
Ba2
1,225,250
995
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/51
3/26
at
103.00
N/R
801,134
1,000
Triview
Metropolitan
District,
El
Paso
County,
Colorado,
Water
and
Wastewater
Enterprise
Revenue
Bonds,
Green
Series
2020,
3.250%,
12/01/45
-
BAM
Insured
12/28
at
100.00
A3
832,840
2,500
University
of
Colorado,
Enterprise
System
Revenue
Bonds,
Refunding
Green
Series
2021A,
4.000%,
6/01/46
6/31
at
100.00
Aa1
2,493,575
14,500
University
of
Colorado,
Enterprise
System
Revenue
Bonds,
Series
2014A,
5.000%,
6/01/46,
(Pre-refunded
6/01/24)
6/24
at
100.00
Aa1 (4)
14,784,635
2,500
Vista
Ridge
Metropolitan
District,
In
the
Town
of
Erie,
Weld
County,
Colorado,
General
Obligation
Refunding
Bonds,
Series
2016A,
4.000%,
12/01/36
-
BAM
Insured
12/26
at
100.00
A2
2,553,650
5,000
Weld
County
School
District
6,
Greeley,
Colorado,
General
Obligation
Bonds,
Series
2020,
5.000%,
12/01/44
12/29
at
100.00
AA
5,437,600
2,175
Weld
County
School
District
RE1,
Colorado,
General
Obligation
Bonds,
Series
2017,
5.000%,
12/15/30
12/26
at
100.00
AA
2,336,711
7,810
West
Globeville
Metropolitan
District
1,
Denver,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022,
6.750%,
12/01/52
12/29
at
103.00
N/R
7,345,227
1,785
West
Meadow
Metropolitan
District,
Town
of
Fraser,
Grand
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Senior
Series
2023A,
6.500%,
12/01/50,
144A
12/28
at
103.00
N/R
1,782,590
500
Westerly
Metropolitan
District
4,
Weld
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-1,
5.000%,
12/01/50
3/26
at
103.00
N/R
435,640
Total
Colorado
539,638,989
Connecticut
-
0.7%
(0.5%
of
Total
Investments)
1,650
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Fairfield
University,
Series
2016Q-1,
5.000%,
7/01/46
7/26
at
100.00
A
1,689,765
6,000
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Hartford
HealthCare
Issue,
Series
2021A,
4.000%,
7/01/51
7/31
at
100.00
A
5,574,900
2,800
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
McLean
Affiliates,
Series
2020A,
5.000%,
1/01/55,
144A
1/26
at
102.00
BB+
2,401,364
7,165
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Quinnipiac
University,
Refunding
Series
2015L,
5.000%,
7/01/45
7/25
at
100.00
A-
7,300,060
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sacred
Heart
University,
Series
2017I-1:
500
5.000%,
7/01/34
7/27
at
100.00
A3
535,635
2,425
5.000%,
7/01/42
7/27
at
100.00
A3
2,514,992
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
(continued)
$
7,500
Connecticut
State,
Special
Tax
Obligation
Bonds,
Transportation
Infrastructure
Purposes,
Series
2020A,
5.000%,
5/01/37
5/30
at
100.00
AA-
$
8,389,500
Total
Connecticut
28,406,216
Delaware
-
0.4%
(0.2%
of
Total
Investments)
1,000
Delaware
Health
Facilities
Authority,
Revenue
Bonds,
Beebe
Medical
Center
Project,
Series
2018,
5.000%,
6/01/48
12/28
at
100.00
BBB
1,021,570
3,350
Delaware
Health
Facilities
Authority,
Revenue
Bonds,
Nanticoke
Memorial
Hospital,
Series
2013,
5.000%,
7/01/32,
(Pre-refunded
7/01/23)
7/23
at
100.00
AA- (4)
3,359,280
9,070
Delaware
Transportation
Authority,
Revenue
Bonds,
US
301
Project,
Series
2015,
5.000%,
6/01/55
6/25
at
100.00
AA-
9,261,921
Total
Delaware
13,642,771
District
of
Columbia
-
3.6%
(2.2%
of
Total
Investments)
1,250
District
of
Columbia
Student
Dormitory
Revenue
Bonds,
Provident
Group
-
Howard
Properties
LLC
Issue,
Series
2013,
5.000%,
10/01/45
5/23
at
100.00
BB-
1,199,500
107,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
5/23
at
24.22
N/R
24,714,860
9,500
District
of
Columbia,
General
Obligation
Bonds,
Series
2021D,
4.000%,
2/01/46
2/31
at
100.00
AA+
9,405,665
District
of
Columbia,
Revenue
Bonds,
Georgetown
University,
Refunding
Series
2017:
3,500
5.000%,
4/01/35
4/27
at
100.00
A-
3,735,725
3,440
5.000%,
4/01/36
4/27
at
100.00
A-
3,651,113
60
5.000%,
4/01/36,
(Pre-refunded
4/01/27)
4/27
at
100.00
N/R (4)
65,474
Metropolitan
Washington
Airports
Authority,
Virginia,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Refunding
&
Subordinate
Lien
Series
2019B:
12,455
4.000%,
10/01/44
10/29
at
100.00
Baa2
12,021,317
5,000
5.000%,
10/01/47
10/29
at
100.00
Baa2
5,235,800
13,710
4.000%,
10/01/49
10/29
at
100.00
Baa2
12,889,182
7,000
Metropolitan
Washington
Airports
Authority,
Virginia,
District
of
Columbia,
Dulles
Toll
Road
Revenue
Bonds,
Dulles
Metrorail
&
Capital
improvement
Projects,
Second
Senior
Lien
Series
2009B,
0.000%,
10/01/36
-
AGC
Insured
No
Opt.
Call
A2
4,159,260
32,000
Metropolitan
Washington
Airports
Authority,
Virginia,
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
A2 (4)
35,950,400
18,000
Metropolitan
Washington
Airports
Authority,
Virginia,
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
Baa1
20,471,220
3,000
Washington
Metropolitan
Area
Transit
Authority,
District
of
Columbia,
Gross
Revenue
Bonds,
Series
2017B,
5.000%,
7/01/42
7/27
at
100.00
AA-
3,158,340
Total
District
of
Columbia
136,657,856
Florida
-
7.0%
(4.3%
of
Total
Investments)
2,800
Bay
County,
Florida,
Educational
Facilities
Revenue
Refunding
Bonds,
Bay
Haven
Charter
Academy,
Inc.
Project,
Series
2016,
5.000%,
9/01/46
9/23
at
100.00
BBB
2,805,712
2,830
City
of
Miami
Beach,
Florida,
Stormwater
Revenue
Bonds,
Series
2015,
5.000%,
9/01/41
9/25
at
100.00
AA-
2,891,439
810
Cocoa,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2003,
5.500%,
10/01/23
-
AMBAC
Insured
No
Opt.
Call
AA+
816,707
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
3,570
Collier
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Hodges
University,
Refunding
Series
2013,
6.125%,
11/01/43,
(Pre-
refunded
11/01/23)
11/23
at
100.00
N/R (4)
$
3,619,230
5,810
Collier
County,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
Series
2018,
4.000%,
10/01/43
10/28
at
100.00
Aa3
5,787,864
530
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School,
Inc.
Projects,
Series
2020C,
5.000%,
9/15/50,
144A
9/27
at
100.00
N/R
437,642
Florida
Municipal
Loan
Council,
Revenue
Bonds,
Series
2000B:
1,040
0.000%,
11/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2
942,583
1,590
0.000%,
11/01/26
-
NPFG
Insured
No
Opt.
Call
Baa2
1,389,597
2,000
Fort
Myers,
Florida,
Utility
System
Revenue
Bonds,
Refunding
Series
2019A,
4.000%,
10/01/49
10/28
at
100.00
A+
1,912,200
15,000
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Series
2018F,
5.000%,
10/01/48,
(UB)
(8)
10/28
at
100.00
AA-
15,829,950
Hillsborough
County
Aviation
Authority,
Florida,
Revenue
Bonds,
Tampa
International
Airport,
Subordinate
Lien
Series
2015B:
5,730
5.000%,
10/01/40,
(Pre-refunded
10/01/24)
10/24
at
100.00
A+ (4)
5,892,503
12,885
5.000%,
10/01/44,
(Pre-refunded
10/01/24)
10/24
at
100.00
A+ (4)
13,250,418
13,480
Hillsborough
County
Industrial
Development
Authority,
Florida,
Hospital
Revenue
Bonds,
Florida
Health
Sciences
Center
Inc
D/B/A
Tampa
General
Hospital,
Series
2020A,
4.000%,
8/01/50
2/31
at
100.00
Baa1
12,378,280
2,500
Lakeland,
Florida,
Hospital
System
Revenue
Bonds,
Lakeland
Regional
Health,
Series
2015,
5.000%,
11/15/45
11/24
at
100.00
A2
2,502,925
Miami
Beach
Redevelopment
Agency,
Florida,
Tax
Increment
Revenue
Bonds,
City
Center/Historic
Convention
Village,
Series
2015A:
3,810
5.000%,
2/01/40
-
AGM
Insured
2/24
at
100.00
A1
3,792,588
19,145
5.000%,
2/01/44
-
AGM
Insured
2/24
at
100.00
A1
19,072,441
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017:
205
5.000%,
7/01/32
7/27
at
100.00
BB+
185,476
5,035
5.125%,
7/01/46
7/27
at
100.00
BB+
4,139,223
7,390
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2015A,
5.000%,
4/01/45
4/25
at
100.00
A-
7,523,463
17,925
Miami-Dade
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
University
of
Miami,
Series
2018A,
5.000%,
4/01/53
4/28
at
100.00
A-
18,643,434
10,000
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2010A,
5.000%,
7/01/35
5/23
at
100.00
BBB+
10,096,600
5,560
Miami-Dade
County
Health
Facility
Authority,
Florida,
Hospital
Revenue
Bonds,
Nicklaus
Children's
Hospital
Project,
Refunding
Series
2021A,
4.000%,
8/01/51
8/31
at
100.00
A
5,011,728
3,000
Miami-Dade
County
Industrual
Development
Authority,
Florida,
Revenue
Bonds,
Doral
Academy,
Seres
2018,
5.000%,
1/15/48
1/28
at
100.00
BBB-
2,897,790
7,000
Miami-Dade
County
School
District,
Florida,
General
Obligation
Bonds,
School
Series
2022A,
5.000%,
3/15/52
-
BAM
Insured
3/32
at
100.00
Aa3
7,706,300
1,000
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Miami
International
Airport,
Refunding
Series
2014B,
5.000%,
10/01/37
10/24
at
100.00
A
1,016,170
14,015
Miami-Dade
County,
Florida,
Aviation
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
10/01/41
10/26
at
100.00
A
14,535,517
4,715
Miami-Dade
County,
Florida,
Public
Facilities
Revenue
Bonds,
Jackson
Health
System,
Series
2017,
5.000%,
6/01/38
6/27
at
100.00
AA-
4,946,224
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
7,000
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2018,
4.000%,
7/01/48
7/28
at
100.00
AA
$
6,730,150
2,620
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2022,
5.000%,
7/01/52
7/32
at
100.00
AA
2,824,019
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2019B:
6,000
4.000%,
10/01/44
10/29
at
100.00
A+
5,937,480
3,965
4.000%,
10/01/49
10/29
at
100.00
A+
3,845,931
11,240
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2022,
4.000%,
10/01/52
4/32
at
100.00
A2
10,437,127
2,500
Orange
County
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Orlando
Health
Obligated
Group,
Inc.,
Series
2023,
5.000%,
10/01/53
4/33
at
100.00
A2
2,650,225
1,095
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Capital
Appreciation
Series
2019A-2,
0.000%,
10/01/32
10/29
at
91.18
BBB-
722,065
4,250
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Series
2019A-1,
5.000%,
10/01/49
10/29
at
100.00
BBB-
4,313,453
2,000
Palm
Beach
County
Health
Facilities
Authority,
Florida Retirement
Communities
Revenue
Bonds,
ACTS
Retirement
-
Life
Communities,
Inc
Obligated
Group,
Series
2018A,
5.000%,
11/15/45
11/25
at
103.00
A-
1,901,380
5,680
Palm
Beach
County
Health
Facilities
Authority,
Florida,
Retirement
Communities
Revenue
Bonds,
ACTS
Retirement
-
Life
Communities,
Inc
Obligated
Group,
Series
2016,
5.000%,
11/15/32
11/26
at
100.00
A-
5,745,831
12,170
Sarasota
County
Public
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Sarasota
Memorial
Hospital
Project,
Series
2018,
4.000%,
7/01/48
7/28
at
100.00
A1
11,403,047
6,625
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Refunding
Series
2015,
4.000%,
5/01/33
5/25
at
100.00
Aa3
6,728,549
South
Miami
Health
Facilities
Authority,
Florida,
Hospital
Revenue
Bonds,
Baptist
Health
Systems
of
South
Florida
Obligated
Group,
Refunding
Series
2017:
8,000
5.000%,
8/15/42
8/27
at
100.00
A1
8,234,960
8,595
5.000%,
8/15/47
8/27
at
100.00
A1
8,785,723
1,490
Tampa
Sports
Authority,
Hillsborough
County,
Florida,
Sales
Tax
Payments
Special
Purpose
Bonds,
Stadium
Project,
Series
1995,
5.750%,
10/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2
1,550,479
4,000
Tampa,
Florida,
Health
System
Revenue
Bonds,
Baycare
Health
System,
Series
2016A,
4.000%,
11/15/46
5/26
at
100.00
Aa2
3,679,040
235
Tampa,
Florida,
Hospital
Revenue
Bonds,
H.
Lee
Moffitt
Cancer
Center
Project,
Series
2020B,
4.000%,
7/01/39
7/30
at
100.00
A-
232,495
2,000
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Embry-Riddle
Aeronautical
University,
Series
2015B,
5.000%,
10/15/45,
(Pre-refunded
4/15/25)
4/25
at
100.00
A2 (4)
2,078,160
7,400
Volusia
County
Educational
Facilities
Authority,
Florida,
Revenue
Bonds,
Stetson
University
Inc.
Project,
Series
2015,
5.000%,
6/01/45
6/25
at
100.00
A-
7,527,132
Total
Florida
265,351,250
Georgia
-
3.9%
(2.4%
of
Total
Investments)
Atlanta,
Georgia,
Water
and
Wastewater
Revenue
Bonds,
Refunding
Series
2015:
3,400
5.000%,
11/01/33,
(Pre-refunded
5/01/25)
5/25
at
100.00
AA- (4)
3,550,246
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Georgia
(continued)
$
2,040
5.000%,
11/01/35,
(Pre-refunded
5/01/25)
5/25
at
100.00
AA- (4)
$
2,130,147
10,235
Clarke
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Piedmont
Healthcare,
Inc.
Project,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A1
10,457,304
Cobb
County
Kennestone
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System,
Series
2017A:
2,000
5.000%,
4/01/42
4/27
at
100.00
A2
2,048,280
10,000
5.000%,
4/01/47
4/27
at
100.00
A2
10,175,700
5,300
Crisp
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Crisp
County
Hospital
Project,
Series
2021,
4.000%,
7/01/46
7/31
at
100.00
A1
5,085,297
5,725
Fayette
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Piedmont
Healthcare,
Inc.
Project,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A1
5,849,347
Fulton
County
Development
Authority,
Georgia,
Hospital
Revenue
Bonds,
Wellstar
Health
System,
Inc
Project,
Series
2017A:
4,330
5.000%,
4/01/42
4/27
at
100.00
A2
4,434,526
10,000
5.000%,
4/01/47
4/27
at
100.00
A2
10,175,700
6,370
4.000%,
4/01/50
4/30
at
100.00
A2
5,890,212
5,000
Fulton
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A,
4.000%,
7/01/49
7/29
at
100.00
A1
4,716,950
12,590
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2014A,
5.500%,
8/15/54,
(Pre-refunded
2/15/25)
2/25
at
100.00
AA (4)
13,160,705
7,500
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2017B,
5.500%,
2/15/42
2/27
at
100.00
AA
7,999,200
2,000
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2021A,
4.000%,
2/15/40
2/31
at
100.00
A
1,935,660
9,935
Georgia
Ports
Authority,
Revenue
Bonds,
Series
2021,
4.000%,
7/01/51
7/31
at
100.00
AA
9,667,252
11,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A,
4.000%,
4/01/42
4/27
at
100.00
A2
10,670,110
1,350
Henry
County
Water
and
Sewerage
Authority,
Georgia,
Revenue
Bonds,
Refunding
Series
2005,
5.250%,
2/01/27
No
Opt.
Call
AA+
1,478,034
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2019A:
1,860
5.000%,
5/15/43
5/29
at
100.00
A3
1,868,630
14,100
5.000%,
5/15/49
No
Opt.
Call
A3
14,266,239
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2015A:
4,305
5.000%,
7/01/60
7/25
at
100.00
BBB+
4,318,647
3,300
5.500%,
7/01/60
7/25
at
100.00
BBB+
3,346,662
8,230
Private
Colleges
and
Universities
Authority,
Georgia,
Revenue
Bonds,
Mercer
University,
Series
2015,
5.000%,
10/01/40
10/25
at
100.00
A3
8,371,721
5,000
Rockdale
County
Development
Authority,
Georgia,
Revenue
Bonds,
Piedmont
Healthcare,
Inc.
Project,
Series
2019A,
4.000%,
7/01/44
7/29
at
100.00
A1
4,840,700
675
Valdosta
and
Lowndes
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Refunding
Series
2019A,
4.000%,
10/01/38
10/29
at
100.00
AA-
692,138
Total
Georgia
147,129,407
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Guam
-
0.1%
(0.1%
of
Total
Investments)
$
4,060
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
Baa2 (4)
$
4,073,845
Total
Guam
4,073,845
Hawaii
-
0.0%
(0.0%
of
Total
Investments)
275
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University,
Series
2013A,
6.875%,
7/01/43,
144A
7/23
at
100.00
BB
275,396
Total
Hawaii
275,396
Idaho
-
0.6%
(0.4%
of
Total
Investments)
7,885
Idaho
Health
Facilities
Authority,
Revenue
Bonds,
Saint
Luke's
Health
System
Project,
Series
2021A,
4.000%,
3/01/51
3/32
at
100.00
A3
7,124,255
11,130
Idaho
Housing
&
Finance
Association,
Idaho,
Sales
Tax
Revenue
Bonds,
Transportation
Expansion
&
Congestion
Mitigation
Fund,
Series
2023A,
5.250%,
8/15/48
8/33
at
100.00
Aa1
12,607,285
2,285
Idaho
Housing
and
Finance
Association,
GNMA
Housing
Revenue
Refunding
Bonds,
Wedgewood
Terrace
Project,
Series
2002A-1,
7.250%,
3/20/37
5/23
at
101.00
Aaa
2,310,341
Total
Idaho
22,041,881
Illinois
-
15.9%
(9.8%
of
Total
Investments)
Board
of
Regents
of
Illinois
State
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2018A:
1,000
5.000%,
4/01/34
-
AGM
Insured
4/28
at
100.00
A1
1,093,860
285
5.000%,
4/01/37
-
AGM
Insured
4/28
at
100.00
A1
306,518
1,370
5.000%,
4/01/38
-
AGM
Insured
4/28
at
100.00
A1
1,468,160
Bolingbrook,
Will
and
DuPage
Counties,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2002B:
4,595
0.000%,
1/01/32
-
FGIC
Insured
No
Opt.
Call
A2
3,337,854
4,000
0.000%,
1/01/34
-
FGIC
Insured
No
Opt.
Call
A2
2,665,960
11,000
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2016,
6.000%,
4/01/46
4/27
at
100.00
A
11,565,400
3,155
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023,
5.750%,
4/01/48
4/33
at
100.00
A
3,480,754
5,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2017G,
5.000%,
12/01/34
12/27
at
100.00
BB+
5,143,050
6,920
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Refunding
Series
2018D,
5.000%,
12/01/46
12/28
at
100.00
BB+
6,862,841
11,450
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A,
7.000%,
12/01/44
12/25
at
100.00
BB+
12,073,338
1,785
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
BB+
1,876,196
23,535
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2017A,
7.000%,
12/01/46,
144A
12/27
at
100.00
BB+
25,525,355
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2021A:
1,500
5.000%,
12/01/38
12/30
at
100.00
BB+
1,528,995
1,750
5.000%,
12/01/40
12/30
at
100.00
BB+
1,768,445
1,000
Chicago
Board
of
Education,
Illinois,
Unlimited
Tax
General
Obligation
Bonds,
Dedicated
Tax
Revenues,
Series
1999A,
5.500%,
12/01/26
-
NPFG
Insured
No
Opt.
Call
BB+
1,045,850
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2020A:
$
4,000
4.000%,
12/01/50
12/29
at
100.00
A+
$
3,718,480
14,765
4.000%,
12/01/50
-
BAM
Insured
12/29
at
100.00
AA
14,312,453
9,285
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Series
2014,
5.250%,
12/01/49
12/24
at
100.00
AA
9,422,975
4,000
Chicago,
Illinois,
General
Airport
Revenue
Bonds,
O'Hare
International
Airport,
Senior
Lien
Series
2018B,
5.000%,
1/01/53
1/29
at
100.00
A+
4,171,760
1,000
Chicago,
Illinois,
General
Obligation
Bonds,
Chicago
Works
Series
2023A,
5.500%,
1/01/40,
(UB)
(8)
1/32
at
100.00
Baa3
1,084,180
22,670
Chicago,
Illinois,
General
Obligation
Bonds,
City
Colleges,
Series
1999,
0.000%,
1/01/25
-
FGIC
Insured
No
Opt.
Call
Baa2
21,172,193
10,565
Chicago,
Illinois,
General
Obligation
Bonds,
Project
&
Refunding
Series
2017A,
6.000%,
1/01/38
1/27
at
100.00
BBB
11,251,831
4,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
5.000%,
1/01/40
1/29
at
100.00
BBB
4,082,440
5,000
Cook
County
Community
College
District
508,
Illinois,
General
Obligation
Bonds,
Chicago
City
Colleges,
Series
2013,
5.250%,
12/01/43
12/23
at
100.00
BBB
5,007,850
4,500
Cook
County
Community
College
District
508,
Illinois,
General
Obligation
Bonds,
Chicago
City
Colleges,
Series
2017,
5.000%,
12/01/47
12/27
at
100.00
A+
4,685,670
3,500
Evanston,
Cook
County,
Illinois,
General
Obligation
Bonds,
Corporate
Purpose
Series
2018A,
4.000%,
12/01/43
6/28
at
100.00
Aa2
3,489,290
Illinois
Educational
Facilities
Authority,
Revenue
Bonds,
Field
Museum
of
Natural
History,
Series
2002.RMKT:
2,750
3.900%,
11/01/36
11/27
at
102.00
A
2,772,000
5,265
5.500%,
11/01/36
11/23
at
100.00
A
5,326,443
3,215
Illinois
Finance
Authority,
Health
Services
Facility
Lease
Revenue
Bonds,
Provident
Group
-
UIC
Surgery
Center,
LLC
-
University
of
Illinois
Health
Services
Facility
Project,
Series
2020,
4.000%,
10/01/50
10/30
at
100.00
BBB+
2,683,914
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C:
3,500
5.000%,
2/15/32
2/27
at
100.00
Aa2
3,763,550
25,880
4.000%,
2/15/41
2/27
at
100.00
Aa2
25,592,991
55
4.000%,
2/15/41,
(Pre-refunded
2/15/27)
2/27
at
100.00
N/R (4)
57,439
1,200
4.000%,
2/15/41,
(Pre-refunded
2/15/27)
2/27
at
100.00
N/R (4)
1,253,220
3,000
5.000%,
2/15/41
2/27
at
100.00
Aa2
3,119,430
2,500
Illinois
Finance
Authority,
Revenue
Bonds,
Bradley
University,
Refunding
Series
2021A,
4.000%,
8/01/51
8/31
at
100.00
BBB+
2,083,075
Illinois
Finance
Authority,
Revenue
Bonds,
Centegra
Health
System,
Series
2014A:
8,750
5.000%,
9/01/39,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R (4)
8,969,188
11,030
5.000%,
9/01/42,
(Pre-refunded
9/01/24)
9/24
at
100.00
N/R (4)
11,306,301
1,000
Illinois
Finance
Authority,
Revenue
Bonds,
DePaul
College
Prep
Foundation,
Series
2023A,
5.625%,
8/01/53,
144A
8/33
at
100.00
BB+
993,420
16,165
Illinois
Finance
Authority,
Revenue
Bonds,
Mercy
Health
Corporation,
Series
2016,
5.000%,
12/01/40
6/26
at
100.00
A3
16,482,966
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-
Elmhurst
Health
Credit
Group,
Series
2022A:
10,945
4.000%,
8/15/42
8/32
at
100.00
AA-
10,598,262
4,155
5.000%,
8/15/51
8/32
at
100.00
AA-
4,397,278
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
22,590
Illinois
Finance
Authority,
Revenue
Bonds,
OSF
Healthcare
System,
Series
2015A,
5.000%,
11/15/45
11/25
at
100.00
A
$
22,820,644
2,215
Illinois
Finance
Authority,
Revenue
Bonds,
Rehabilitation
Institute
of
Chicago,
Series
2013A,
6.000%,
7/01/43
7/23
at
100.00
A
2,224,436
4,135
Illinois
Finance
Authority,
Revenue
Bonds,
Silver
Cross
Hospital
and
Medical
Centers,
Refunding
Series
2015C,
5.000%,
8/15/44
8/25
at
100.00
A3
4,142,732
5,410
Illinois
FInance
Authority,
Revenue
Bonds,
Southern
Illinois
Healthcare
Enterprises,
Inc.,
Series
2017A,
5.000%,
3/01/47
3/27
at
100.00
A
5,506,893
14,200
Illinois
Finance
Authority,
Revenue
Bonds,
The
Carle
Foundation,
Fixed
Period
Series
2021A,
4.000%,
8/15/41
8/31
at
100.00
AA-
13,843,012
Illinois
State,
General
Obligation
Bonds,
April
Series
2014:
2,500
5.000%,
4/01/31
4/24
at
100.00
Baa1
2,531,875
3,000
5.000%,
4/01/38
4/24
at
100.00
Baa1
3,019,590
Illinois
State,
General
Obligation
Bonds,
December
Series
2017A:
5,000
5.000%,
12/01/34
12/27
at
100.00
Baa1
5,298,450
2,000
5.000%,
12/01/35
12/27
at
100.00
Baa1
2,108,940
5,420
5.000%,
12/01/39
12/27
at
100.00
Baa1
5,617,559
2,300
Illinois
State,
General
Obligation
Bonds,
February
Series
2014,
5.250%,
2/01/32
2/24
at
100.00
Baa1
2,327,692
1,750
Illinois
State,
General
Obligation
Bonds,
January
Series
2016,
5.000%,
1/01/32
1/26
at
100.00
Baa1
1,817,410
3,565
Illinois
State,
General
Obligation
Bonds,
June
Series
2016,
5.000%,
6/01/26
No
Opt.
Call
Baa1
3,735,443
4,170
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A,
5.500%,
3/01/47
3/32
at
100.00
Baa1
4,564,190
Illinois
State,
General
Obligation
Bonds,
May
Series
2018A:
17,000
6.000%,
5/01/26
No
Opt.
Call
Baa1
18,269,560
4,485
6.000%,
5/01/27
No
Opt.
Call
Baa1
4,940,138
Illinois
State,
General
Obligation
Bonds,
May
Series
2020:
1,115
5.500%,
5/01/30
No
Opt.
Call
Baa1
1,274,166
5,305
5.500%,
5/01/39
5/30
at
100.00
Baa1
5,810,673
2,360
5.750%,
5/01/45
5/30
at
100.00
BBB+
2,585,687
1,825
Illinois
State,
General
Obligation
Bonds,
May
Series
2023B,
5.500%,
5/01/47
(WI/DD,
Settling
5/10/23)
5/32
at
100.00
BBB+
1,997,882
2,515
Illinois
State,
General
Obligation
Bonds,
November
Series
2016,
5.000%,
11/01/23
No
Opt.
Call
Baa1
2,532,253
9,710
Illinois
State,
General
Obligation
Bonds,
October
Series
2016,
5.000%,
2/01/27
No
Opt.
Call
Baa1
10,289,396
5,000
Illinois
State,
General
Obligation
Bonds,
October
Series
2022C,
5.500%,
10/01/41
10/32
at
100.00
Baa1
5,569,950
2,035
Illinois
State,
General
Obligation
Bonds,
Series
2013,
5.500%,
7/01/38
7/23
at
100.00
BBB+
2,043,201
5,030
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2013A,
5.000%,
1/01/38
5/23
at
100.00
AA-
5,034,276
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2014B:
8,000
5.000%,
1/01/38
1/24
at
100.00
AA-
8,075,360
6,500
5.000%,
1/01/39
1/24
at
100.00
AA-
6,557,525
10,040
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015A,
5.000%,
1/01/40
7/25
at
100.00
AA-
10,285,378
8,890
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2015B,
5.000%,
1/01/40
1/26
at
100.00
AA-
9,191,549
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
10,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2019A,
5.000%,
1/01/44
7/29
at
100.00
AA-
$
10,739,200
12,010
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2020A,
5.000%,
1/01/45
1/31
at
100.00
AA-
13,078,169
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2021A:
9,640
4.000%,
1/01/42
1/32
at
100.00
AA-
9,571,653
10,455
5.000%,
1/01/46
1/32
at
100.00
AA-
11,279,481
5,410
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A,
5.250%,
1/01/45
(WI/DD,
Settling
5/18/23)
7/33
at
100.00
Aa3
6,093,716
1,115
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0052,
5.791%,
1/01/38,
144A,
(IF)
1/23
at
100.00
AA-
1,118,824
11,050
Illinois,
General
Obligation
Bonds,
Illinois
FIRST
Program,
Series
2001,
6.000%,
11/01/26
-
FGIC
Insured
No
Opt.
Call
BBB+
11,639,075
1,175
Macon
and
DeWitt
Counties
Community
Unit
School
District
2
Maroa-
Forsyth,
Illinois,
General
Obligation
Bonds,
Series
2021,
4.000%,
12/01/41
-
AGM
Insured
12/30
at
100.00
N/R
1,178,266
2,350
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A,
5.000%,
6/15/50
12/29
at
100.00
BBB
2,376,249
8,800
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2015A,
5.500%,
6/15/53
12/25
at
100.00
BBB
8,947,224
4,750
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB
4,781,587
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1:
33,000
0.000%,
6/15/45
-
AGM
Insured
No
Opt.
Call
BBB
11,789,250
5,355
0.000%,
6/15/46
-
AGM
Insured
No
Opt.
Call
BBB
1,814,167
13,350
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Refunding
Series
1996A,
0.000%,
12/15/24
-
NPFG
Insured
No
Opt.
Call
Baa2
12,561,682
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Refunding
Series
1998A:
990
5.500%,
12/15/23,
(Pre-refunded
6/15/23)
-
FGIC
Insured,
(ETM)
No
Opt.
Call
Baa2 (4)
992,257
1,755
5.500%,
12/15/23
-
NPFG
Insured
No
Opt.
Call
BBB
1,765,390
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A:
3,505
0.000%,
6/15/30
No
Opt.
Call
A
2,712,309
195
0.000%,
6/15/30,
(ETM)
No
Opt.
Call
N/R (4)
159,153
28,000
0.000%,
12/15/35
-
AGM
Insured
No
Opt.
Call
BBB
16,881,200
3,280
0.000%,
6/15/37
-
NPFG
Insured
No
Opt.
Call
Baa2
1,776,481
11,715
0.000%,
12/15/38
-
NPFG
Insured
No
Opt.
Call
Baa2
5,887,959
5,535
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Hospitality
Facility,
Series
1996A,
7.000%,
7/01/26,
(ETM)
No
Opt.
Call
AA+ (4)
5,867,100
6,335
Regional
Transportation
Authority,
Cook,
DuPage,
Kane,
Lake,
McHenry
and
Will
Counties,
Illinois,
General
Obligation
Bonds,
Series
1999,
5.750%,
6/01/23
-
AGM
Insured
No
Opt.
Call
Aa3
6,345,453
2,300
Regional
Transportation
Authority,
Cook,
DuPage,
Kane,
Lake,
McHenry
and
Will
Counties,
Illinois,
General
Obligation
Bonds,
Series
2000A,
6.500%,
7/01/30
-
NPFG
Insured
No
Opt.
Call
Aa3
2,757,263
2,500
Sangamon
County
Water
Reclamation
District,
Illinois,
General
Obligation
Bonds
Alternate
Revenue
Source,
Project
&
Refunding
Series
2019A,
4.000%,
1/01/44
-
BAM
Insured
1/29
at
100.00
AA
2,474,200
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
4,125
Southwestern
Illinois
Development
Authority,
Health
Facility
Revenue
Bonds,
Memorial
Group,
Inc.,
Series
2013,
7.625%,
11/01/48,
(Pre-
refunded
11/01/23)
11/23
at
100.00
N/R (4)
$
4,207,417
Springfield,
Illinois,
Electric
Revenue
Bonds,
Refunding
Senior
Lien
Series
2015:
2,250
5.000%,
3/01/29
3/25
at
100.00
A3
2,306,385
7,000
5.000%,
3/01/31
3/25
at
100.00
A3
7,166,670
2,000
University
of
Illinois,
Health
Services
Facilities
System
Revenue
Bonds,
Series
2013,
6.250%,
10/01/38
10/23
at
100.00
A-
2,026,400
Total
Illinois
605,851,215
Indiana
-
2.8%
(1.7%
of
Total
Investments)
6,000
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Valparaiso
University
Project,
Series
2014,
5.000%,
10/01/44
10/24
at
100.00
Baa2
6,025,800
1,875
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Refunding
2015A,
4.000%,
12/01/40
6/25
at
100.00
AA
1,853,944
7,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Fixed
Rate
Series
2019A,
4.000%,
12/01/49
12/29
at
100.00
AA
6,685,420
3,400
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
Unversity
Health
Obligation
Group,
Refunding
2015A,
5.000%,
12/01/40
6/25
at
100.00
AA
3,475,990
13,415
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Reid
Health
Series
2022,
5.000%,
1/01/52
-
AGM
Insured
1/32
at
100.00
A
14,040,944
11,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
First
Lien
Green
Series
2016A,
5.000%,
10/01/46
10/26
at
100.00
A+
11,468,600
10,000
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
First
Lien
Green
Series
2022B,
5.250%,
10/01/47
10/30
at
100.00
Aa3
10,980,200
13,215
Indiana
Finance
Authority,
Wastewater
Utility
Revenue
Bonds,
CWA
Authority
Project,
Series
2014A,
5.000%,
10/01/44
10/24
at
100.00
A+
13,428,026
5,130
Indiana
Finance
Authority,
Water
Utility
Revenue
Bonds,
Citizens
Energy
Group
Project,
First
Lien
Series
2016A,
5.000%,
10/01/46
10/26
at
100.00
AA-
5,348,538
14,100
Indiana
Municipal
Power
Agency
Power
Supply
System
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
1/01/42
7/26
at
100.00
A+
14,589,693
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Series
1999E:
9,255
0.000%,
2/01/25
-
AMBAC
Insured
No
Opt.
Call
AA-
8,745,697
9,560
0.000%,
2/01/26
-
AMBAC
Insured
No
Opt.
Call
AA-
8,770,918
1,580
Zionsville
Community
Schools
Building
Corporation,
Boone
County,
Indiana,
First
Mortgage
Bonds,
Series
2005Z,
0.000%,
1/15/28
-
AGM
Insured
No
Opt.
Call
A1
1,368,485
Total
Indiana
106,782,255
Iowa
-
0.7%
(0.5%
of
Total
Investments)
5,775
Iowa
Finance
Authority
Senior
Living
Facilities
Revenue
Bonds,
Sunrise
Retirement
Community
Project,
Refunding
Series
2021,
5.000%,
9/01/51
9/28
at
102.00
N/R
4,336,679
8,250
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50
12/29
at
103.00
BBB-
8,200,748
3,085
Iowa
Finance
Authority,
Senior
Housing
Revenue
Bonds,
Northcrest
Inc.
Project,
Series
2018A,
5.000%,
3/01/48
3/24
at
103.00
BB+
2,625,643
8,265
Iowa
Tobacco
Settlement
Authority,
Tobacco
Settlement
Asset-Backed
Bonds,
Class
2
Capital
Appreciation
Senior
Lien
Series
2021B-2,
0.000%,
6/01/65
6/31
at
25.58
N/R
964,691
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Iowa
(continued)
Xenia
Rural
Water
District,
Iowa,
Water
Revenue
Bonds,
Refunding
Capital
Loan
Note
Series
2016:
$
4,700
5.000%,
12/01/36,
(Pre-refunded
12/01/26)
12/26
at
100.00
A- (4)
$
5,095,129
5,990
5.000%,
12/01/41,
(Pre-refunded
12/01/26)
12/26
at
100.00
A- (4)
6,493,579
Total
Iowa
27,716,469
Kansas
-
0.6%
(0.4%
of
Total
Investments)
Ellis
County
Unified
School
District
489
Hays,
Kansas,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2022B:
5,000
5.000%,
9/01/42
-
AGM
Insured
9/31
at
100.00
AA
5,480,200
3,550
5.000%,
9/01/47
-
AGM
Insured
9/31
at
100.00
AA
3,832,048
3,700
Kansas
Municipal
Energy
Agency,
Power
Project
Revenue
Bonds,
Dogwood
Project,
Series
2018A,
5.000%,
4/01/38
-
BAM
Insured
4/26
at
100.00
AA
3,905,350
Lawrence,
Kansas,
Hospital
Revenue
Bonds,
Lawrence
Memorial
Hospital,
Series
2018A:
6,000
5.000%,
7/01/43
7/28
at
100.00
A-
6,142,140
3,965
5.000%,
7/01/48
7/28
at
100.00
A-
4,024,673
Total
Kansas
23,384,411
Kentucky
-
0.7%
(0.4%
of
Total
Investments)
6,010
Kentucky
Economic
Development
Finance
Authority,
Health
System
Revenue
Bonds,
Norton
Healthcare
Inc.,
Series
2000B,
0.000%,
10/01/28
-
NPFG
Insured
No
Opt.
Call
Baa2
4,977,783
1,300
Kentucky
Economic
Development
Finance
Authority,
Hospital
Revenue
Bonds,
Owensboro
Health,
Refunding
Series
2017A,
5.000%,
6/01/37
6/27
at
100.00
BBB-
1,317,771
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C:
5,000
0.000%,
7/01/43
(5)
7/31
at
100.00
Baa2
5,669,350
8,610
0.000%,
7/01/46
(5)
7/31
at
100.00
Baa2
9,779,582
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
First
Tier
Series
2013A:
2,655
5.750%,
7/01/49,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2 (4)
2,663,124
430
6.000%,
7/01/53,
(Pre-refunded
7/01/23)
7/23
at
100.00
Baa2 (4)
431,475
1,380
University
of
Kentucky,
General
Receipts
Bonds,
University
of
Kentucky
Mixed-Use
Parking
Project,
Series
2019A,
4.000%,
5/01/44
5/29
at
100.00
Aa3
1,346,742
Total
Kentucky
26,185,827
Louisiana
-
1.8%
(1.1%
of
Total
Investments)
6,535
Ascension
Parish
Industrial
development
Board,
Louisiana,
Revenue
Bonds,
Impala
Warehousing
(US)
LLC
Project,
Series
2013,
6.000%,
7/01/36
7/23
at
100.00
N/R
6,542,580
4,000
East
Baton
Rouge
Parish
Capital
Improvement
District,
Louisiana,
MOVEBR
Sales
Tax
Revenue
Bonds,
Series
2019,
5.000%,
8/01/48
8/29
at
100.00
Aa3
4,228,640
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
A1
1,958,526
1,695
Louisiana
Public
Facilities
Authority,
Lease
Revenue
Bonds,
Provident
Group-Flagship
Properties
LLC
-
Louisiana
State
University
Nicolson
Gateway
Project,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A3
1,721,781
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2017:
2,000
5.000%,
5/15/42
5/27
at
100.00
A3
2,048,960
12,500
5.000%,
5/15/46
5/27
at
100.00
A3
12,743,250
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Louisiana
(continued)
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Refunding
Series
2016:
$
20
4.000%,
5/15/35,
(Pre-refunded
5/15/26)
5/26
at
100.00
N/R (4)
$
20,662
2,345
4.000%,
5/15/36
5/26
at
100.00
A3
2,362,189
20
5.000%,
5/15/47,
(Pre-refunded
5/15/26)
5/26
at
100.00
N/R (4)
21,240
1,975
Louisiana
Public
Facilities
Authority,
Revenue
Bonds,
Ochsner
Clinic
Foundation
Project,
Series
2015,
5.000%,
5/15/47
5/25
at
100.00
A3
2,002,235
13,590
Louisiana
Stadium
and
Exposition
District,
Revenue
Refunding
Bonds,
Senior
Lien
Series
2013A,
5.000%,
7/01/36
7/23
at
100.00
A2
13,596,795
1,015
Louisiana
State,
Gasoline
and
Fuels
Tax
Revenue
Bonds,
Refunding
Second
Lien
Series
2017C,
5.000%,
5/01/45
11/27
at
100.00
AA-
1,064,573
5,000
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2017A,
5.000%,
1/01/48
1/27
at
100.00
A
5,155,300
6,280
New
Orleans,
Louisiana,
Sewerage
Service
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
6/01/44,
(Pre-refunded
6/01/24)
6/24
at
100.00
A (4)
6,403,276
4,000
Port
New
Orleans
Board
of
Commissioners,
Louisiana,
Revenue
Bonds,
Port
Facilities,
Refunding
Series
2018A,
5.000%,
4/01/48
-
AGM
Insured
4/28
at
100.00
A1
4,153,720
5,000
Saint
Tammany
Parish
Hospital
Service
District
1,
Louisiana,
Hospital
Revenue
Bonds,
St.
Tammany
Parish
Hospital
Project,
Refunding
Series
2018A,
5.000%,
7/01/48
7/28
at
100.00
AA-
5,061,550
1,355
Shreveport,
Louisiana,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
12/01/40
12/25
at
100.00
Baa1
1,402,154
Total
Louisiana
70,487,431
Maine
-
0.9%
(0.5%
of
Total
Investments)
7,000
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2013,
5.000%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
Ba1 (4)
7,018,200
6,300
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
Eastern
Maine
Medical
Center
Obligated
Group
Issue,
Series
2016A,
5.000%,
7/01/41
7/26
at
100.00
Ba1
6,256,530
8,675
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
MaineHealth
Issue,
Series
2018A,
5.000%,
7/01/43
7/28
at
100.00
A+
9,022,347
11,150
Maine
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
MaineHealth
Issue,
Series
2020A,
4.000%,
7/01/50
7/30
at
100.00
A+
10,472,637
Total
Maine
32,769,714
Maryland
-
1.6%
(1.0%
of
Total
Investments)
5,905
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017,
5.000%,
9/01/46
9/27
at
100.00
CCC+
5,565,699
8,610
Baltimore,
Maryland,
Revenue
Bonds,
Water
Projects,
Subordinate
Series
2017A,
5.000%,
7/01/41
1/27
at
100.00
A+
9,020,525
4,000
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Maryland
Medical
System
Issue,
Taxable
Series
2017D,
4.000%,
7/01/48
1/28
at
100.00
A
3,824,080
4,125
Maryland
Stadium
Authority,
Lease
Revenue
Bonds,
Built
To
Learn,
Series
2022A,
4.000%,
6/01/47
6/32
at
100.00
A1
4,041,015
17,000
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2018A,
5.000%,
5/01/42
5/28
at
100.00
AA-
18,054,170
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Maryland
(continued)
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Series
2020:
$
3,000
4.000%,
7/01/39
7/30
at
100.00
AA-
$
3,071,160
3,000
4.000%,
7/01/50
7/30
at
100.00
AA-
2,929,590
9,095
Maryland
Transportation
Authority,
Revenue
Bonds,
Transportation
Facilities
Projects,
Series
2021A,
5.000%,
7/01/51
7/31
at
100.00
Aa2
9,852,340
2,000
Montgomery
County,
Maryland,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2015,
5.000%,
12/01/44
6/25
at
100.00
AA-
2,043,520
1,150
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Ingleside
King
Farm
Project,
Series
2017A-1,
5.000%,
11/01/37
11/24
at
103.00
B
1,039,669
2,250
Rockville
Mayor
and
Council,
Maryland,
Economic
Development
Revenue
Bonds,
Series
2017B,
5.000%,
11/01/47
11/24
at
103.00
B
1,894,680
Total
Maryland
61,336,448
Massachusetts
-
1.8%
(1.1%
of
Total
Investments)
5,000
Massachusetts
Bay
Transportation
Authority,
Sales
Tax
Revenue
Bonds,
Subordinated
Series
2021A-1,
4.000%,
7/01/51
7/31
at
100.00
Aa3
4,881,450
1,250
Massachusetts
Development
Finance
Agency,
Hospital
Revenue
Bonds,
Cape
Cod
Healthcare
Obligated
Group,
Series
2013,
5.250%,
11/15/41,
(Pre-refunded
11/15/23)
11/23
at
100.00
N/R (4)
1,263,588
435
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)
500,859
930
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D,
5.000%,
7/01/44
7/25
at
100.00
BBB
940,397
11,370
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
University,
Series
2016BB-1,
5.000%,
10/01/46
10/26
at
100.00
AA-
11,854,362
3,630
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
CareGroup
Issue,
Series
2018J-2,
5.000%,
7/01/53
7/28
at
100.00
A3
3,732,693
1,100
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Dana-
Farber
Cancer
Institute
Issue,
Series
2016N,
5.000%,
12/01/46
12/26
at
100.00
A
1,128,303
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Emerson
College,
Series
2015:
2,070
4.500%,
1/01/45
1/25
at
100.00
Baa2
1,965,941
8,800
5.000%,
1/01/45
1/25
at
100.00
Baa2
8,830,272
2,700
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Olin
College,
Series
2013E,
5.000%,
11/01/43
11/23
at
100.00
A
2,712,609
4,100
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Partners
HealthCare
System
Issue,
Series
2017S-1,
4.000%,
7/01/36
1/28
at
100.00
AA-
4,161,295
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Western
New
England
University,
Series
2015:
1,380
5.000%,
9/01/40
9/25
at
100.00
BBB-
1,344,023
1,545
5.000%,
9/01/45
9/25
at
100.00
BBB-
1,454,185
3,000
Massachusetts
Development
Finance
Authority,
Revenue
Bonds,
WGBH
Educational
Foundation,
Series
2002A,
5.750%,
1/01/42
-
AMBAC
Insured
No
Opt.
Call
AA-
3,787,080
5,000
Massachusetts
State,
General
Obligation
Bonds,
Consolidated
Loan,
Series
2022C,
5.250%,
10/01/52
10/32
at
100.00
AA+
5,633,600
12,000
Massachusetts
State,
Transportation
Fund
Revenue
Bonds,
Rail
Enhancement
Program,
Sustainability Green
Series
2022A,
5.000%,
6/01/50
6/31
at
100.00
Aa1
13,129,320
Total
Massachusetts
67,319,977
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
-
12.8%
(7.9%
of
Total
Investments)
$
315
Advanced
Technology
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2019,
5.000%,
11/01/34
11/27
at
102.00
BB+
$
308,265
840
Ann
Arbor
Public
School
District,
Washtenaw
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2015,
5.000%,
5/01/24
No
Opt.
Call
Aa3
854,960
895
Bloomfield
Township,
Michigan,
General
Obligation
Bonds,
Refunding
Series
2016,
5.000%,
5/01/28
5/26
at
100.00
AAA
952,459
4,445
Byron
Center
Public
Schools,
Kent
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2017I,
5.000%,
5/01/47
5/27
at
100.00
AA
4,618,622
1,135
Caledonia
Community
Schools,
Kent,
Allegan
and
Barry
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2014,
5.000%,
5/01/39
5/24
at
100.00
AA
1,151,412
1,220
Central
Michigan
University
Board
of
Trustees,
General
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
10/01/39
10/24
at
100.00
A+
1,238,312
1,000
Conner
Creek
Academy
East,
Michigan,
Public
School
Revenue
Bonds,
Series
2007,
5.250%,
11/01/36
5/23
at
100.00
B
759,140
2,000
County
of
Calhoun
Hospital
Finance
Authority,
Michigan,
Hospital
Revenue
Bonds,
Oaklawn
Hospital,
Refunding
Series
2016,
5.000%,
2/15/47
2/27
at
100.00
Ba1
1,949,820
4,400
Detroit
Downtown
Development
Authority,
Michigan,
Tax
Increment
Revenue
Bonds,
Catalyst
Development
Project,
Series
2018A,
5.000%,
7/01/48
-
AGM
Insured
7/24
at
100.00
AA
4,382,796
2,830
Detroit,
Michigan,
Senior
Lien
Sewerage
Disposal
System
Revenue
Bonds,
Series
2001B,
5.500%,
7/01/29
-
NPFG
Insured
No
Opt.
Call
A2
3,061,664
15
Detroit,
Michigan,
Water
Supply
System
Revenue
Bonds,
Refunding
Second
Lien
Series
2004A,
5.000%,
7/01/34
-
AGM
Insured
5/23
at
100.00
A+
15,022
1,700
Downriver
Utility
Wastewater
Authority,
Michigan,
Sewer
System
Revenue
Bonds,
Series
2018,
5.000%,
4/01/43
-
AGM
Insured
4/28
at
100.00
AA
1,795,302
Eastern
Michigan
University,
General
Revenue
Bonds,
Refunding
Series
2017A:
1,100
5.000%,
3/01/33
-
BAM
Insured
3/27
at
100.00
A3
1,177,660
2,270
5.000%,
3/01/36
-
BAM
Insured
3/27
at
100.00
A3
2,415,961
11,165
Eastern
Michigan
University,
General
Revenue
Bonds,
Series
2018A,
4.000%,
3/01/44
-
AGM
Insured
3/28
at
100.00
A1
10,767,749
Ferris
State
University,
Michigan,
General
Revenue
Bonds,
Series
2020A:
1,000
4.000%,
10/01/39
10/29
at
100.00
A+
984,010
350
4.000%,
10/01/40
10/29
at
100.00
A+
342,538
Genesee
County,
Michigan,
Sewage
Disposal
System
Revenue
Bonds,
Interceptors
&
Treatment
Facilties,
Series
2020A:
200
4.000%,
6/01/36
-
BAM
Insured
6/29
at
100.00
AA
208,704
200
4.000%,
6/01/37
-
BAM
Insured
6/29
at
100.00
AA
206,812
200
4.000%,
6/01/38
-
BAM
Insured
6/29
at
100.00
AA
204,996
200
4.000%,
6/01/39
-
BAM
Insured
6/29
at
100.00
AA
202,742
220
4.000%,
6/01/40
-
BAM
Insured
6/29
at
100.00
AA
223,021
Grand
Rapids
and
Kent
County
Joint
Building
Authority,
Michigan,
Limited
Tax
General
Obligation
Bonds,
Devos
Place
Project,
Series
2001:
8,260
0.000%,
12/01/23
No
Opt.
Call
AAA
8,103,638
8,575
0.000%,
12/01/24
No
Opt.
Call
AAA
8,162,199
8,900
0.000%,
12/01/25
No
Opt.
Call
AAA
8,244,782
3,000
0.000%,
12/01/26
No
Opt.
Call
AAA
2,706,240
100
0.000%,
12/01/27
No
Opt.
Call
AAA
87,885
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
4,305
0.000%,
12/01/29
No
Opt.
Call
AAA
$
3,593,384
1,000
Grand
Rapids
Public
Schools,
Kent
County,
Michigan,
General
Obligation
Bonds,
Refunding
School
Building
&
Site
Series
2016,
5.000%,
5/01/38
-
AGM
Insured
5/26
at
100.00
A3
1,046,280
Grand
Rapids
Public
Schools,
Kent
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2019:
1,000
5.000%,
11/01/36
-
AGM
Insured
5/29
at
100.00
A3
1,094,700
1,250
5.000%,
11/01/42
-
AGM
Insured
5/29
at
100.00
A3
1,331,713
1,850
5.000%,
11/01/43
-
AGM
Insured
5/29
at
100.00
A3
1,972,174
Grand
Rapids,
Michigan,
Sanitary
Sewer
System
Revenue
Bonds,
Improvement
&
Refunding
Series
2014:
1,000
5.000%,
1/01/32,
(Pre-refunded
1/01/24)
1/24
at
100.00
AA (4)
1,011,710
1,000
5.000%,
1/01/33,
(Pre-refunded
1/01/24)
1/24
at
100.00
AA (4)
1,011,710
1,000
5.000%,
1/01/34,
(Pre-refunded
1/01/24)
1/24
at
100.00
AA (4)
1,011,710
1,855
5.000%,
1/01/44,
(Pre-refunded
1/01/24)
1/24
at
100.00
AA (4)
1,876,722
Grand
Rapids,
Michigan,
Sanitary
Sewer
System
Revenue
Bonds,
Series
2018:
2,500
5.000%,
1/01/43
1/28
at
100.00
AA
2,635,750
6,055
5.000%,
1/01/48
1/28
at
100.00
AA
6,344,853
4,295
Grand
Rapids,
Michigan,
Water
Supply
System
Revenue
Bonds,
Series
2020,
5.000%,
1/01/45
1/30
at
100.00
AA
4,669,996
Grand
Traverse
County
Hospital
Finance
Authority,
Michigan,
Revenue
Bonds,
Munson
Healthcare,
Series
2019A:
1,720
5.000%,
7/01/36
7/28
at
100.00
A1
1,851,150
1,995
5.000%,
7/01/39
7/28
at
100.00
A1
2,107,099
500
Grand
Valley
State
University,
Michigan,
General
Revenue
Bonds,
Refunding
Series
2014B,
5.000%,
12/01/28
12/24
at
100.00
A+
513,160
1,005
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Refunding
Second
Lien
Series
2016C,
5.000%,
7/01/32
7/26
at
100.00
A2
1,067,360
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Refunding
Senior
Lien
Series
2016C:
6,245
5.000%,
7/01/32
7/26
at
100.00
A1
6,653,985
10,000
5.000%,
7/01/35
7/26
at
100.00
A1
10,576,800
27,960
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A1
28,826,201
6,910
Hudsonville
Public
Schools,
Ottawa
and
Allegan
Counties,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020-I,
4.000%,
5/01/47
5/30
at
100.00
AA
6,663,866
1,265
Jenison
Public
Schools,
Ottawa
County,
Michigan,
General
Obligation
Bonds,
Series
2017,
5.000%,
5/01/30
5/27
at
100.00
Aa3
1,377,876
1,675
Kalamazoo
County,
Michigan,
General
Obligation
Bonds,
Juvenile
Home
Facilities
Series
2017,
5.000%,
4/01/30
4/27
at
100.00
AA+
1,833,204
Kent
County,
Michigan,
General
Obligation
Bonds,
Limited
Tax
Capital
Improvement
Series
2016:
1,000
5.000%,
6/01/31
6/26
at
100.00
AAA
1,063,780
1,445
5.000%,
6/01/34
6/26
at
100.00
AAA
1,529,272
Kent
County,
Michigan,
General
Obligation
Bonds,
Limited
Tax
Capital
Improvement
Series
2017A:
1,570
5.000%,
6/01/36
6/27
at
100.00
AAA
1,710,688
1,650
5.000%,
6/01/37
6/27
at
100.00
AAA
1,787,857
1,025
Kent
County,
Michigan,
General
Obligation
Bonds,
Limited
Tax
Series
2015,
5.000%,
1/01/34
1/25
at
100.00
AAA
1,061,008
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
3,440
Kent
County,
Michigan,
General
Obligation
Bonds,
Refunding
Limited
Tax
Series
2015,
5.000%,
1/01/31
1/25
at
100.00
AAA
$
3,567,486
Lake
Saint
Claire
Clean
Water
Drain
Drainage
District,
Macomb
County,
Michigan,
General
Obligation
Bonds,
Series
2013:
1,000
5.000%,
10/01/25,
(Pre-refunded
10/01/23)
10/23
at
100.00
AA+ (4)
1,007,490
1,020
5.000%,
10/01/26,
(Pre-refunded
10/01/23)
10/23
at
100.00
AA+ (4)
1,027,640
Lake
Superior
State
University
Board
of
Trustees,
Michigan,
General
Revenue
Bonds,
Series
2018:
2,395
5.000%,
1/15/38
-
AGM
Insured
1/28
at
100.00
AA
2,538,389
4,000
5.000%,
1/15/43
-
AGM
Insured
1/28
at
100.00
AA
4,213,560
10,900
Lansing
Board
of
Water
and
Light,
Michigan,
Utility
System
Revenue
Bonds,
Series
2019A,
5.000%,
7/01/44
7/29
at
100.00
AA-
11,582,013
13,000
Lansing
Board
of
Water
and
Light,
Michigan,
Utility
System
Revenue
Bonds,
Series
2021A,
5.000%,
7/01/51
7/31
at
100.00
AA-
13,829,010
Lansing
School
District,
Ingham
County,
Michigan,
General
Obligation
Bonds,
School
Building
and
Site
Series
2019II:
1,325
5.000%,
5/01/40
5/29
at
100.00
AA
1,451,180
1,000
5.000%,
5/01/41
5/29
at
100.00
AA
1,095,350
Lansing
School
District,
Ingham
County,
Michigan,
General
Obligation
Bonds,
Series
2016I:
2,085
5.000%,
5/01/38
5/26
at
100.00
AA
2,171,236
2,200
5.000%,
5/01/41
5/26
at
100.00
AA
2,283,996
2,200
Lansing
Township
Downtown
Development
Authority,
Ingham
County,
Michigan,
Tax
Increment
Bonds,
Series
2013A,
5.950%,
2/01/42
2/24
at
103.00
N/R
2,132,174
Marquettte,
Michigan,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2016A:
75
5.000%,
7/01/32
7/26
at
100.00
AA-
79,093
500
5.000%,
7/01/33
7/26
at
100.00
AA-
526,360
1,500
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne
Criminal
Justice
Center
Project,
Senior
Lien
Series
2018,
5.000%,
11/01/43
11/28
at
100.00
Aa3
1,587,030
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne,
Second
Lien
Refunding
Series
2020:
17,500
4.000%,
11/01/50
11/30
at
100.00
Aa3
16,745,050
10,005
4.000%,
11/01/55
11/30
at
100.00
Aa3
9,488,142
3,500
Michigan
Finance
Authority,
Higher
Education
Limited
Obligation
Revenue
Bonds,
Kalamazoo
College
Project,
Refunding
Series
2018,
5.000%,
12/01/43
12/28
at
100.00
A3
3,639,685
1,780
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Beaumont
Health
Credit
Group,
Refunding
Series
2015A,
5.000%,
8/01/32,
(Pre-
refunded
8/01/24)
8/24
at
100.00
Aa3 (4)
1,817,985
4,850
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
MidMichigan
Health
Credit
Group,
Refunding
Series
2014,
5.000%,
6/01/39,
(Pre-
refunded
6/01/24)
6/24
at
100.00
A+ (4)
4,950,395
3,930
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Oakwood
Obligated
Group,
Refunding
Series
2013,
5.000%,
8/15/31,
(Pre-
refunded
8/15/23)
8/23
at
100.00
Aa3 (4)
3,949,296
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Sparrow
Obligated
Group,
Refunding
Series
2015:
3,330
5.000%,
11/15/45,
(Pre-refunded
5/15/25)
5/25
at
100.00
N/R (4)
3,470,493
2,730
5.000%,
11/15/45
5/25
at
100.00
A-
2,778,648
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Regional
Convention
Facility
Authority
Local
Project,
Series
2014H-1:
$
2,000
5.000%,
10/01/24
10/23
at
100.00
AA-
$
2,015,440
2,000
5.000%,
10/01/25
10/24
at
100.00
AA-
2,045,260
11,025
5.000%,
10/01/39
10/24
at
100.00
AA-
11,176,814
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Sewage
Disposal
System
Local
Project,
Second
Lien
Series
2015C:
4,665
5.000%,
7/01/34
7/25
at
100.00
A2
4,801,825
1,070
5.000%,
7/01/35
7/25
at
100.00
A2
1,098,911
Michigan
Finance
Authority,
Local
Government
Loan
Program
Revenue
Bonds,
Detroit
Water
&
Sewerage
Department
Water
Supply
System
Local
Project,
Refunding
Senior
Loan
Series
2014D-1:
1,500
5.000%,
7/01/35
-
AGM
Insured
7/24
at
100.00
A1
1,522,785
1,625
5.000%,
7/01/37
-
AGM
Insured
7/24
at
100.00
A1
1,645,410
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2016MI:
5,340
5.000%,
12/01/45
6/26
at
100.00
AA-
5,454,596
175
5.000%,
12/01/45,
(Pre-refunded
6/01/26)
6/26
at
100.00
N/R (4)
186,855
9,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2016MI-2,
4.000%,
3/01/51
3/32
at
100.00
AA-
8,325,540
12,520
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2017A-MI,
4.000%,
12/01/36
12/27
at
100.00
AA-
12,634,683
1,900
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2017MI,
5.000%,
12/01/30
6/27
at
100.00
AA-
2,059,714
2,000
Michigan
Finance
Authority,
Michigan,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Refunding
Series
2019A-MI,
4.000%,
12/01/49
12/29
at
100.00
AA-
1,862,040
11,730
Michigan
Finance
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
2006
Sold
Tobacco
Receipts
Senior
Current
Interest
Series
2020A-2,
5.000%,
6/01/40
12/30
at
100.00
BBB+
12,241,663
10,330
Michigan
Hospital
Finance
Authority,
Revenue
Bonds,
Ascension
Health
Senior
Credit
Group,
Refunding
&
Project
Series
2010F-6,
4.000%,
11/15/47
11/26
at
100.00
Aa2
9,677,970
200
Michigan
Public
Educational
Facilities
Authority,
Charter
School
Revenue
Bonds,
American
Montessori
Academy,
Series
2007,
6.500%,
12/01/37
5/23
at
100.00
N/R
199,798
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I:
14,915
5.000%,
4/15/31
10/25
at
100.00
AA-
15,761,725
2,085
5.000%,
4/15/31,
(Pre-refunded
10/15/25)
10/25
at
100.00
N/R (4)
2,196,026
5,615
5.000%,
4/15/38
10/25
at
100.00
AA-
5,834,883
2,500
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2016-I,
5.000%,
10/15/46
10/26
at
100.00
AA-
2,598,875
960
Michigan
State
Hospital
Finance
Authority,
Hospital
Revenue
Refunding
Bonds,
St.
John's
Health
System,
Series
1998A,
5.000%,
5/15/28
-
AMBAC
Insured,
(ETM)
5/23
at
100.00
N/R (4)
1,034,150
8,300
Michigan
State
University,
General
Revenue
Bonds,
Refunding
Series
2019C,
4.000%,
2/15/44
8/29
at
100.00
AA
8,085,030
7,790
Michigan
State
University,
General
Revenue
Bonds,
Series
2013A,
5.000%,
8/15/41
8/23
at
100.00
AA
7,801,140
3,000
Michigan
State
University,
General
Revenue
Bonds,
Taxable
Series
2019A,
5.000%,
2/15/48
2/29
at
100.00
AA
3,195,330
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
1,950
Michigan
State,
Comprehensive
Transportation
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
11/15/29
11/24
at
100.00
Aa2
$
2,009,046
4,790
Mona
Shores
Public
Schools,
Muskegon
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2019I,
5.000%,
5/01/48
5/29
at
100.00
Aa1
5,189,917
7,500
Monroe
Public
Schools,
Monroe
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2020I,
5.000%,
5/01/50
5/30
at
100.00
AA
8,027,250
2,945
Muskegon
Community
College
District,
Michigan,
General
Obligation
Bonds,
Community
Facility
Series
2013I,
5.000%,
5/01/38
5/24
at
100.00
AA
2,977,778
Muskegon
County,
Michigan,
General
Obligation
Wastewater
Bonds,
Management
System
1,
Refunding
Series
2015:
1,350
5.000%,
11/01/33
11/25
at
100.00
AA
1,410,926
1,730
5.000%,
11/01/36
11/25
at
100.00
AA
1,803,421
Northern
Michigan
University,
General
Revenue
Bonds,
Series
2018A:
400
5.000%,
12/01/33
6/28
at
100.00
A
441,660
650
5.000%,
12/01/35
6/28
at
100.00
A
710,365
1,200
Novi
Community
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2022-II,
4.000%,
5/01/47
5/32
at
100.00
Aa2
1,160,760
5,400
Oakland
University,
Michigan,
General
Revenue
Bonds,
Series
2016,
5.000%,
3/01/47
3/26
at
100.00
A1
5,515,560
3,805
Rockford
Public
Schools,
Kent
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2023II,
5.000%,
5/01/44
(WI/DD,
Settling
5/18/23)
5/33
at
100.00
AA
4,141,210
5,380
Royal
Oak
Hospital
Finance
Authority,
Michigan,
Hospital
Revenue
Bonds,
William
Beaumont
Hospital
Obligated
Group,
Refunding
Series
2014D,
5.000%,
9/01/39,
(Pre-refunded
3/01/24)
3/24
at
100.00
Aa3 (4)
5,450,639
1,510
Royal
Oak,
Oakland
County,
Michigan,
General
Obligation
Bonds,
Taxable
Limited
Tax
Series
2018,
5.000%,
4/01/43
4/28
at
100.00
AA
1,633,367
810
Saginaw
Valley
State
University,
Michigan,
General
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
7/01/35
7/26
at
100.00
A
851,950
1,435
South
Haven
Public
Schools,
Van
Buren
Couty,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site,
Series
2014A,
5.000%,
5/01/41
-
BAM
Insured
5/24
at
100.00
AA
1,456,468
550
Troy
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
Refunding
Series
2015,
5.000%,
5/01/26
5/25
at
100.00
AA
573,650
4,000
University
of
Michigan,
General
Revenue
Bonds,
Series
2014A,
5.000%,
4/01/44,
(Pre-refunded
4/01/24)
4/24
at
100.00
AAA (4)
4,071,040
University
of
Michigan,
Michigan,
General
Revenue
Bonds,
Series
2017A:
2,000
5.000%,
4/01/34
4/27
at
100.00
AAA
2,187,280
2,000
5.000%,
4/01/35
4/27
at
100.00
AAA
2,178,540
1,065
5.000%,
4/01/36,
(Pre-refunded
4/01/27)
4/27
at
100.00
AAA (4)
1,164,247
2,000
5.000%,
4/01/42,
(Pre-refunded
4/01/27)
4/27
at
100.00
AAA (4)
2,186,380
5,000
5.000%,
4/01/47,
(Pre-refunded
4/01/27)
4/27
at
100.00
AAA (4)
5,465,950
7,200
5.000%,
4/01/47,
(Pre-refunded
4/01/27),
(UB)
4/27
at
100.00
AAA (4)
7,870,968
1,600
Walled
Lake
Consolidated
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2014,
5.000%,
5/01/40,
(Pre-refunded
11/01/23)
11/23
at
100.00
Aa1 (4)
1,614,208
2,000
Walled
Lake
Consolidated
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2019,
5.000%,
5/01/49
5/29
at
100.00
Aa1
2,154,880
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
1,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Senior
Series
2017A,
5.000%,
12/01/42
12/27
at
100.00
A
$
1,046,050
4,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2012A,
5.000%,
12/01/42
-
AGM
Insured
5/23
at
100.00
A
4,003,600
2,200
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2015D,
5.000%,
12/01/45
12/25
at
100.00
A
2,252,910
3,700
Wayne
State
University,
Michigan,
General
Revenue
Bonds,
Series
2013A,
5.000%,
11/15/40
11/23
at
100.00
A+
3,712,580
5,000
Wayne
State
University,
Michigan,
General
Revenue
Bonds,
Series
2018A,
5.000%,
11/15/43
11/28
at
100.00
A+
5,279,100
2,590
West
Bloomfield
School
District,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2017,
5.000%,
5/01/36
-
AGM
Insured
5/27
at
100.00
A1
2,818,723
Western
Michigan
University,
General
Revenue
Bonds,
Refunding
Series
2013:
750
5.250%,
11/15/33,
(Pre-refunded
11/15/23)
-
AGM
Insured
11/23
at
100.00
Aa3 (4)
758,355
4,250
5.000%,
11/15/39,
(Pre-refunded
11/15/23)
-
AGM
Insured
11/23
at
100.00
Aa3 (4)
4,291,735
Western
Michigan
University,
General
Revenue
Bonds,
Refunding
Series
2015A:
1,500
5.000%,
11/15/40
5/25
at
100.00
A
1,535,355
850
5.000%,
11/15/45
5/25
at
100.00
A
869,193
3,335
Western
Michigan
University,
General
Revenue
Bonds,
Refunding
Series
2019A,
5.000%,
11/15/44
11/29
at
100.00
A
3,527,263
350
Williamston
Community
School
District,
Michigan,
Unlimited
Tax
General
Obligation
QSBLF
Bonds,
Series
1996,
5.500%,
5/01/25
-
NPFG
Insured
No
Opt.
Call
Aa2
358,876
2,700
Wyandotte,
Michigan,
Electric
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
10/01/44
-
BAM
Insured
10/25
at
100.00
AA
2,802,411
Total
Michigan
486,242,494
Minnesota
-
4.5%
(2.8%
of
Total
Investments)
285
Baytown
Township,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Saint
Croix
Preparatory
Academy,
Refunding
Series
2016A,
4.000%,
8/01/36
8/26
at
100.00
BB+
242,997
3,565
Brooklyn
Center,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Tesfa
International
dba
Twin
Lakes
STEM
Academy
Project,
Series
2021A,
5.250%,
6/15/56
6/29
at
100.00
N/R
2,562,059
730
Brooklyn
Center,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Tesfa
International
dba
Twin
Lakes
STEM
Academy
Project,
Taxable
Series
2021B,
6.000%,
6/15/31
6/29
at
100.00
N/R
669,928
2,000
Carlton
County,
Minnesota,
General
Obligation
Bonds,
Minnesota
State
Credit
Enhancement
Program
Series
2022A,
4.000%,
2/01/47
2/32
at
100.00
Aa1
2,024,360
350
Chatfield,
Minnesota,
Healthcare
and
Housing
Facilities
Revenue
Bonds,
Chosen
Valley
Care
Center
Project,
Refunding
Series
2019,
4.000%,
9/01/39
9/26
at
102.00
N/R
261,566
4,005
City
of
Milaca,
Minnesota
Refunding
Revenue
Bonds,
Grandview
Christian
Home
Project,
Series
2016,
5.000%,
10/01/41
10/24
at
102.00
N/R
3,517,391
Dakota
County
Community
Development
Agency,
Minnesota,
Senior
Housing
Revenue
Bonds,
Walker
Highview
Hills
LLC
Project,
Refunding
Series
2016A:
1,375
3.500%,
8/01/25,
144A
5/23
at
100.00
N/R
1,336,981
1,000
5.000%,
8/01/46,
144A
5/23
at
100.00
N/R
902,020
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Minnesota
(continued)
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2018A:
$
2,000
4.250%,
2/15/43
2/28
at
100.00
A-
$
1,994,660
1,300
5.000%,
2/15/43
2/28
at
100.00
A-
1,342,315
10,700
5.000%,
2/15/53
2/28
at
100.00
A-
10,899,448
3,000
5.250%,
2/15/53
2/28
at
100.00
A-
3,117,870
7,240
5.250%,
2/15/58
2/28
at
100.00
A-
7,508,676
3,600
Duluth
Economic
Development
Authority,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Saint
Luke's
Hospital
of
Duluth
Obligated
Group,
Series
2022B,
5.250%,
6/15/47
6/32
at
100.00
BBB-
3,701,124
535
Independence,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Paladin
Career
&
Technical
High
School
Project,
Series
2021A,
4.000%,
6/01/41
6/29
at
102.00
N/R
410,500
9,840
Independent
School
District
621,
Mounds
View,
Minnesota,
General
Obligation
Bonds,
School
Building
Series
2018A,
4.000%,
2/01/41
2/27
at
100.00
AAA
9,973,627
2,800
Itasca
County
Independent
School
District
318,
Minnesota,
General
Obligation
Bonds,
Series
2018A,
4.000%,
2/01/37
2/27
at
100.00
AAA
2,879,324
405
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Cyber
Village
Academy
Project,
Series
2022A,
5.500%,
6/01/57
6/32
at
100.00
N/R
387,593
2,250
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Series
2021,
4.000%,
11/15/40
11/31
at
100.00
A1
2,216,497
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Fairview
Health
Services,
Series
2018A:
2,530
4.000%,
11/15/48
11/28
at
100.00
BBB+
2,209,778
3,395
5.000%,
11/15/49
11/28
at
100.00
BBB+
3,468,162
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2019A:
1,000
5.000%,
1/01/33
7/29
at
100.00
A+
1,121,940
1,245
5.000%,
1/01/44
7/29
at
100.00
A+
1,323,597
3,500
5.000%,
1/01/49
7/29
at
100.00
A+
3,674,755
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Senior
Lien
Series
2016C:
1,630
5.000%,
1/01/37
1/27
at
100.00
AA-
1,728,273
7,000
5.000%,
1/01/41
1/27
at
100.00
AA-
7,306,810
Minneapolis-St.
Paul
Metropolitan
Airports
Commission,
Minnesota,
Airport
Revenue
Bonds,
Subordinate
Lien
Series
2022A:
2,000
4.125%,
1/01/47
1/32
at
100.00
A+
1,952,860
2,000
4.250%,
1/01/52
1/32
at
100.00
A+
1,958,640
10,385
5.000%,
1/01/52
1/32
at
100.00
A+
11,085,988
Minnesota
Higher
Education
Facilities
Authority,
Revenue
Bonds,
University
of
Saint
Thomas,
Series
2022B:
610
4.125%,
10/01/42
10/30
at
100.00
A2
606,212
1,000
4.125%,
10/01/42
10/30
at
100.00
A2
993,790
2,140
5.000%,
10/01/47
10/30
at
100.00
A2
2,258,599
1,000
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2020D,
4.000%,
8/01/42
8/30
at
100.00
AA+
994,400
280
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021A,
3.000%,
8/01/37
8/31
at
100.00
AA+
259,924
650
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021B,
3.000%,
8/01/35
8/31
at
100.00
AA+
624,494
3,165
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2021C,
4.000%,
8/01/43
8/31
at
100.00
AA+
3,130,280
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Minnesota
(continued)
$
4,000
Minnesota
Housing
Finance
Agency,
Housing
Infrastructure
State
Appropriation
Bonds,
Series
2022C,
5.000%,
8/01/42
8/32
at
100.00
AA+
$
4,433,040
2,855
Rochester,
Minnesota,
Electric
Utility
Revenue
Bonds,
Refunding
Series
2017A,
5.000%,
12/01/47
12/26
at
100.00
Aa3
2,970,656
10,000
Rochester,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Mayo
Clinic,
Series
2022,
5.000%,
11/15/57
11/32
at
100.00
AA
10,893,400
Saint
Cloud,
Minnesota,
Health
Care
Revenue
Bonds,
CentraCare
Health
System,
Series
2019:
10,325
5.000%,
5/01/48
5/29
at
100.00
A2
10,650,031
6,000
4.000%,
5/01/49
5/29
at
100.00
A2
5,644,020
4,825
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023,
5.500%,
3/01/53,
144A
3/33
at
100.00
N/R
4,510,362
1,000
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Refunding
Series
2020A,
5.000%,
9/01/40
9/30
at
100.00
BB+
947,720
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hmong
College
Prep
Academy
Project,
Series
2016A:
2,000
5.750%,
9/01/46
9/26
at
100.00
BB+
2,005,940
3,850
6.000%,
9/01/51
9/26
at
100.00
BB+
3,883,033
530
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2020A,
3.875%,
12/01/30
12/28
at
102.00
BB-
474,435
4,170
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Nova
Classical
Academy,
Series
2016A,
4.125%,
9/01/47
9/24
at
102.00
BB+
3,343,714
3,000
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Facility
Revenue
Bonds,
HealthPartners
Obligated
Group,
Refunding
Series
2015A,
5.000%,
7/01/30
7/25
at
100.00
A
3,114,840
Saint
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Health
Care
Revenue
Bonds,
Fairview
Health
Services,
Series
2017A:
595
4.000%,
11/15/35
11/27
at
100.00
BBB+
592,793
1,470
4.000%,
11/15/43
11/27
at
100.00
BBB+
1,335,083
Saint
Paul,
Minnesota,
Housing
and
Redevelopment
Authority,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Series
2022A:
210
6.500%,
6/01/29
No
Opt.
Call
N/R
209,462
1,070
6.375%,
6/01/42
6/29
at
103.00
N/R
1,055,994
3,055
6.500%,
6/01/57
6/29
at
103.00
N/R
3,009,481
850
Sartell,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Country
Manor
Campus
LLC
Project,
Refunding
Series
2017,
5.000%,
9/01/42
9/27
at
100.00
N/R
720,672
St.
Paul
Housing
and
Redevelopment
Authority,
Minnesota,
Hospital
Revenue
Bonds,
HealthEast
Inc.,
Series
2015A:
3,595
5.000%,
11/15/40,
(Pre-refunded
11/15/25)
11/25
at
100.00
N/R (4)
3,784,780
5,315
5.000%,
11/15/44,
(Pre-refunded
11/15/25)
11/25
at
100.00
N/R (4)
5,595,579
Wayzata,
Minnesota
Senior
Housing
Revenue
Bonds,
Folkestone
Senior
Living
Community,
Refunding
Series
2019:
300
5.000%,
8/01/32
8/24
at
102.00
N/R
302,748
150
5.000%,
8/01/33
8/24
at
102.00
N/R
151,149
250
5.000%,
8/01/35
8/24
at
102.00
N/R
250,797
600
4.000%,
8/01/39
8/24
at
102.00
N/R
522,228
2,000
5.000%,
8/01/49
8/24
at
102.00
N/R
1,872,300
Total
Minnesota
172,921,695
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Mississippi
-
0.2%
(0.1%
of
Total
Investments)
$
8,000
Medical
Center
Educational
Building
Corporation,
Mississippi,
Revenue
Bonds,
University
of
Mississippi
Medical
Center
New
Facilities
&
Refinancing
Project,
Series
2017A,
4.000%,
6/01/47
6/27
at
100.00
Aa2
$
7,625,600
Total
Mississippi
7,625,600
Missouri
-
5.4%
(3.3%
of
Total
Investments)
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016:
2,470
4.000%,
8/01/33
8/26
at
100.00
Ba3
2,001,910
4,590
5.000%,
8/01/35
8/26
at
100.00
Ba3
3,970,809
640
4.000%,
8/01/38
8/26
at
100.00
Ba3
478,298
Hannibal
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Hannibal
Regional
Healthcare
System,
Series
2017:
2,860
5.000%,
10/01/42
10/27
at
100.00
BBB+
2,928,983
1,000
5.000%,
10/01/47
10/27
at
100.00
BBB+
1,019,200
Kansas
City
Municipal
Assistance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Improvement
Series
2004B-1:
8,150
0.000%,
4/15/27
-
AMBAC
Insured
No
Opt.
Call
A2
7,258,879
5,000
0.000%,
4/15/31
-
AMBAC
Insured
No
Opt.
Call
A2
3,975,050
Kansas
City,
Missouri,
Sanitary
Sewer
System
Revenue
Bonds,
Improvement
Series
2018A:
2,475
4.000%,
1/01/38
1/28
at
100.00
AA
2,522,495
4,470
4.000%,
1/01/42
1/28
at
100.00
AA
4,495,479
1,475
Kansas
City,
Missouri,
Special
Obligation
Bonds,
Kansas
City
Missouri
Projects,
Series
2021A,
5.000%,
4/01/40
4/31
at
100.00
A1
1,605,464
1,750
Kansas
City,
Missouri,
Water
Revenue
Bonds,
Series
2023A,
4.000%,
12/01/47
12/33
at
100.00
Aa2
1,737,995
2,700
Maryland
Heights,
Missouri,
Tax
Increment
and
Special
District
Revenue
Bonds,
Westport
Plaza
Redevelopment
Area,
Series
2020,
4.125%,
11/01/38
11/29
at
100.00
N/R
2,278,098
2,675
Metropolitan
St.
Louis
Sewerage
District,
Missouri,
Wastewater
System
Revenue
Bonds,
Series
2019B,
5.000%,
5/01/49
5/29
at
100.00
AA+
2,868,724
5,385
Metropolitan
St.
Louis
Sewerage
District,
Missouri,
Wastewater
System
Revenue
Bonds,
Series
2020B,
5.000%,
5/01/49
5/30
at
100.00
AA+
5,863,403
2,160
Missouri
Development
Finance
Board,
Infrastructure
Facilities
Revenue
Bonds,
City
of Independence
Annual
Appropriation
Electric
System,
Refunding
Series
2022,
5.000%,
6/01/34
-
AGM
Insured
6/32
at
100.00
AA
2,523,744
3,000
Missouri
Environmental
Improvement
and
Energy
Resources
Authority,
Revenue
Bonds,
Union
Electric
Company
Project,
Refunding
Series
1998A,
2.900%,
9/01/33
7/27
at
102.00
A
2,871,810
1,350
Missouri
Health
and
Education
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Saint
Luke's
Health
System,
Inc.,
Series
2016,
5.000%,
11/15/35
5/26
at
100.00
A+
1,412,276
1,400
Missouri
Health
and
Educational
Facilities
Authority,
Educational
Facilities
Revenue
Bonds,
Kansas
City
University
of
Medicine
and
Biosciences,
Series
2017A,
5.000%,
6/01/42
6/27
at
100.00
A1
1,499,974
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2015A,
4.000%,
1/01/45
1/25
at
100.00
AA
2,850,270
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Series
2021A:
1,830
4.000%,
7/01/40
7/31
at
100.00
AA
1,809,742
1,510
4.000%,
7/01/46
7/31
at
100.00
AA
1,423,371
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
1,500
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Variable
Rate
Demand
Obligation
Series
2013C,
4.000%,
1/01/50,
(Mandatory
Put
1/01/46)
7/26
at
100.00
AA
$
1,432,140
14,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
BJC
Health
System,
Variable
Rate
Demand
Obligation
Series
2017D,
4.000%,
1/01/58,
(Mandatory
Put
1/01/48),
(UB)
(8)
1/28
at
100.00
AA
12,864,040
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Fixed
Series
2019A:
4,165
4.000%,
11/15/44
5/29
at
100.00
A2
3,968,620
4,220
4.000%,
11/15/49
5/29
at
100.00
A2
3,907,425
17,300
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A,
5.000%,
11/15/48
11/23
at
100.00
A2
16,940,333
5,110
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2015A,
5.000%,
11/15/39
11/25
at
100.00
A2
5,220,785
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017C:
1,050
4.000%,
11/15/36
11/27
at
100.00
A+
1,059,775
2,980
4.000%,
11/15/37
11/27
at
100.00
A+
2,995,854
2,620
5.000%,
11/15/42
11/27
at
100.00
A+
2,709,892
2,500
5.000%,
11/15/47
11/27
at
100.00
A+
2,568,875
28,565
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2020,
4.000%,
6/01/53
6/30
at
100.00
A+
26,621,437
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mosaic
Health
System,
Series
2019A:
1,500
4.000%,
2/15/44
2/29
at
100.00
A1
1,452,735
2,000
4.000%,
2/15/49
2/29
at
100.00
A1
1,858,380
9,425
4.000%,
2/15/54
2/29
at
100.00
A1
8,598,805
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
SSM
Health
Care,
Series
2014A,
4.000%,
6/01/33,
(Pre-refunded
6/01/24)
6/24
at
100.00
A+ (4)
3,019,320
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
SSM
Health
Care,
Series
2022A,
4.000%,
6/01/52
6/32
at
100.00
A+
2,786,910
10,000
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Children's
Mercy
Hospital,
Series
2017A,
4.000%,
5/15/42
5/25
at
102.00
AA-
9,775,800
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2014A:
1,540
5.000%,
2/01/35
2/24
at
100.00
BBB
1,499,852
2,000
5.000%,
2/01/44
2/24
at
100.00
BBB
1,839,860
1,150
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016A,
5.000%,
2/01/46
2/26
at
100.00
BBB
1,046,627
700
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2016B,
5.000%,
2/01/34
2/26
at
100.00
BBB
685,706
1,950
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2019A,
5.000%,
2/01/42
2/24
at
104.00
BBB
1,808,664
Missouri
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Lutheran
Senior
Services
Projects,
Series
2019C:
1,500
5.000%,
2/01/42
2/29
at
102.00
BBB
1,391,280
1,000
4.000%,
2/01/48
2/29
at
100.00
BBB
759,590
7,085
Missouri
Joint
Municipal
Electric
Utility
Commission,
Power
Project
Revenue
Bonds,
Pairie
State
Power
Project,
Refunding
Series
2016A,
5.000%,
12/01/34
6/26
at
100.00
A2
7,400,424
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
$
2,415
Saint
Charles
County
Public
Water
Supply
District
2,
Missouri,
Certificates
of
Participation,
Missouri
Project
Series
2019,
4.000%,
12/01/41
12/25
at
100.00
AA+
$
2,412,440
4,450
Saint
Charles
County
Public
Water
Supply
District
2,
Missouri,
Certificates
of
Participation,
Missouri
Project,
Series
2022,
5.000%,
12/01/44
12/30
at
100.00
AA+
4,817,303
Saint
Charles
County
Public
Water
Supply
District
2,
Missouri,
Certificates
of
Participation,
Refudning
Series
2016C:
1,675
4.000%,
12/01/31
12/25
at
100.00
AA+
1,724,144
2,535
5.000%,
12/01/32
12/25
at
100.00
AA+
2,650,596
3,500
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Ranken-Jordan
Project,
Refunding
&
Improvement
Series
2016,
5.000%,
11/15/41
11/25
at
100.00
N/R
3,496,605
220
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
of
Sunset
Hills,
Series
2013A,
5.875%,
9/01/43
9/23
at
100.00
BB+
220,156
7,250
Saint
Louis
County
Industrial
Development
Authority,
Missouri,
Revenue
Bonds,
Friendship
Village
Saint
Louis
Obligated
Group,
Series
2018A,
5.250%,
9/01/53
9/25
at
103.00
BB+
6,321,638
2,300
Taney
County
Industrial
Development
Authority,
Missouri,
Sales
Tax
Revenue
Improvement
Bonds,
Big
Cedar
Infrastructure
Project
Series
2023,
6.000%,
10/01/49,
144A
10/30
at
100.00
N/R
2,269,847
675
The
Industrial
Development
Authority
of
the
City
of
Saint
Louis,
Missouri,
Development
Financing
Revenue
Bonds,
Ballpark
Village
Development
Project,
Series
2017A,
3.875%,
11/15/29
11/26
at
100.00
N/R
586,116
Total
Missouri
206,107,948
Montana
-
0.6%
(0.4%
of
Total
Investments)
2,975
Kalispell,
Montana,
Housing
and
Healthcare
Facilities
Revenue
Bonds,
Immanuel
Lutheran
Corporation,
Series
2017A,
5.250%,
5/15/47
5/25
at
102.00
N/R
2,426,678
4,965
Montana
Facility
Finance
Authority,
Healthcare
Facility
Revenue
Bonds,
Kalispell
Regional
Medical
Center,
Series
2018B,
5.000%,
7/01/48
7/28
at
100.00
BBB
4,998,961
2,580
Montana
Facility
Finance
Authority,
Hospital
Revenue
Bonds,
Benefis
Health
System
Obligated
Group,
Refunding
Series
2016,
5.000%,
2/15/41
2/27
at
100.00
A+
2,626,259
3,310
Montana
Facility
Finance
Authority,
Montana,
Health
Facilities
Reveue
Bonds,
Bozeman
Deaconess
Health
Services
Obligated
Group,
Series
2018,
5.000%,
6/01/48
6/28
at
100.00
A
3,362,199
1,825
Montana
Facility
Finance
Authority,
Revenue
Bonds,
Billings
Clinic
Obligated
Group,
Series
2018A,
5.000%,
8/15/48
8/28
at
100.00
AA-
1,880,608
6,530
Montana
State
University,
General
Revenue
Bonds,
Series
2022,
5.250%,
11/15/52
-
AGM
Insured
11/32
at
100.00
Aa3
7,249,932
Total
Montana
22,544,637
Nebraska
-
1.1%
(0.7%
of
Total
Investments)
14,165
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
3
Revenue
Bonds,
Refunding
Crossover
Series
2017A,
5.000%,
9/01/42
No
Opt.
Call
BBB+
14,770,129
3,000
Douglas
County
Hospital
Authority
2,
Nebraska,
Health
Facilities
Revenue
Bonds,
Children's
Hospital
Obligated
Group,
Series
2017,
5.000%,
11/15/47
5/27
at
100.00
A1
3,072,060
Douglas
County
Hospital
Authority
3,
Nebraska,
Health
Facilities
Revenue
Bonds,
Nebraska
Methodist
Health
System,
Refunding
Series
2015:
3,500
5.000%,
11/01/45
11/25
at
100.00
A
3,543,505
1,400
5.000%,
11/01/48
11/25
at
100.00
A
1,415,134
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nebraska
(continued)
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Refunding
Series
2017A:
$
2,150
5.000%,
7/01/29
7/27
at
100.00
BBB
$
2,260,596
2,000
5.000%,
7/01/30
7/27
at
100.00
BBB
2,103,020
Madison
County
Hospital
Authority
1,
Nebraska,
Hospital
Revenue
Bonds,
Faith
Regional
Health
Services
Project,
Series
2018:
1,000
5.000%,
7/01/32
7/25
at
100.00
BBB
1,029,250
820
5.000%,
7/01/33
7/25
at
100.00
BBB
843,567
2,000
5.000%,
7/01/34
7/25
at
100.00
BBB
2,056,900
5,110
Municipal
Energy
Agency
of
Nebraska,
Power
Supply
System
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
4/01/38
10/26
at
100.00
A
5,427,177
4,000
Omaha
Public
Power
District,
Nebraska,
Electric
System
Revenue
Bonds,
Series
2022B,
5.250%,
2/01/52
2/32
at
100.00
AA
4,489,040
Total
Nebraska
41,010,378
Nevada
-
2.0%
(1.3%
of
Total
Investments)
6,480
Carson
City,
Nevada,
Hospital
Revenue
Bonds,
Carson
Tahoe
Regional
Healthcare
Project,
Series
2017A,
5.000%,
9/01/47
9/27
at
100.00
BBB+
6,622,625
7,525
Clark
County,
Nevada,
General
Obligation
Bonds,
Stadium
Improvement,
Limited
Tax
Additionally
Secured
by
Pledged
Revenues,
Series
2018A,
5.000%,
5/01/48
6/28
at
100.00
AA+
7,971,533
365
Director
of
the
State
of
Nevada
Department
of
Business
and
Industry,
Charter
School
Lease
Revenue
Bonds,
Somerset
Academy,
Series
2018A,
5.000%,
12/15/38,
144A
12/25
at
100.00
BB
348,590
Henderson,
Nevada,
Limited
Obligation
Bonds,
Local
Improvement
District
T-18
Inspirada,
Refunding
Series
2016:
2,295
4.000%,
9/01/26
No
Opt.
Call
N/R
2,271,981
1,520
4.000%,
9/01/27
9/26
at
100.00
N/R
1,494,023
2,650
4.000%,
9/01/29
9/26
at
100.00
N/R
2,564,405
2,905
4.000%,
9/01/30
9/26
at
100.00
N/R
2,791,066
18,000
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Convention
Center
Expansion
Revenue
Bonds,
Series
2018B,
5.000%,
7/01/43
7/28
at
100.00
A
18,882,900
Las
Vegas
Valley
Water
District,
Nevada,
General
Obligation
Bonds,
Refunding
Series
2015:
5,000
5.000%,
6/01/32
12/24
at
100.00
AA
5,141,750
6,620
5.000%,
6/01/39
(8)
12/24
at
100.00
AA
6,751,209
11,915
5.000%,
6/01/39,
(UB)
12/24
at
100.00
AA
12,151,155
Las
Vegas
Valley
Water
District,
Nevada,
General
Obligation
Bonds,
Tender
Option
Bond
Trust
2015-XF0233:
3,995
12.035%,
6/01/24,
144A,
(IF)
(8)
No
Opt.
Call
AA
4,311,524
1,000
12.144%,
6/01/24,
144A,
(IF)
(8)
No
Opt.
Call
AA
1,079,280
2,500
12.041%,
6/01/39,
144A,
(IF)
(8)
12/24
at
100.00
AA
2,698,200
1,250
12.041%,
6/01/39,
144A,
(IF)
(8)
12/24
at
100.00
AA
1,349,100
1,250
12.041%,
6/01/39,
144A,
(IF)
(8)
12/24
at
100.00
AA
1,349,100
Total
Nevada
77,778,441
New
Hampshire
-
0.1%
(0.1%
of
Total
Investments)
1,500
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Concord
Hospital,
Series
2017,
5.000%,
10/01/47
10/27
at
100.00
A2
1,545,135
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Dartmouth-Hitchcock
Obligated
Group,
Series
2018A:
1,115
5.000%,
8/01/36
2/28
at
100.00
A
1,177,117
2,935
5.000%,
8/01/37
2/28
at
100.00
A
3,083,951
Total
New
Hampshire
5,806,203
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Jersey
-
7.2%
(4.5%
of
Total
Investments)
$
10,600
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
New
Jersey
Transit
Corporation
Projects
Sublease,
Refunding
Series
2017B,
5.000%,
11/01/25
No
Opt.
Call
A-
$
11,047,320
6,000
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Provident
Group
-
Montclair
Properties
LLC,
Montclair
State
University
Student
Housing
Project,
Refunding
Series
2017,
5.000%,
6/01/42
-
AGM
Insured
6/27
at
100.00
A1
6,166,320
20,890
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2016BBB,
5.500%,
6/15/30,
(Pre-refunded
12/15/26)
12/26
at
100.00
A- (4)
22,985,267
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2014UU:
5,515
5.000%,
6/15/30,
(Pre-refunded
6/15/24)
6/24
at
100.00
A- (4)
5,630,098
4,065
5.000%,
6/15/40
6/24
at
100.00
A-
4,149,837
935
5.000%,
6/15/40,
(Pre-refunded
6/15/24)
6/24
at
100.00
N/R (4)
954,513
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2018EEE:
630
5.000%,
6/15/43
12/28
at
100.00
A-
662,376
370
5.000%,
6/15/43,
(Pre-refunded
12/15/28)
12/28
at
100.00
N/R (4)
420,886
2,415
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Social
Series
2021QQQ,
4.000%,
6/15/50
12/30
at
100.00
A-
2,283,093
2,500
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Hackensack
Meridian
Health
Obligated
Group,
Refunding
Series
2017A,
5.000%,
7/01/37
7/27
at
100.00
AA-
2,657,600
720
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
Robert
Wood
Johnson
University
Hospital,
Series
2013A,
5.500%,
7/01/43
7/23
at
100.00
AA-
721,325
10,970
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Refunding
Series
2016A,
5.000%,
7/01/43
7/26
at
100.00
AA-
11,315,445
12,775
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
RWJ
Barnabas
Health
Obligated
Group,
Series
2021A,
4.000%,
7/01/51
7/31
at
100.00
AA-
12,145,831
695
New
Jersey
Health
Care
Facilities
Financing
Authority,
Revenue
Bonds,
University
Hospital
Issue,
Refunding
Series
2015A,
5.000%,
7/01/46
-
AGM
Insured
7/25
at
100.00
BB-
702,513
New
Jersey
Transportation
Trust
Fund
Authority,
Federal
Highway
Reimbursement
Revenue
Notes,
Series
2016A-1:
3,050
5.000%,
6/15/28
6/26
at
100.00
A2
3,223,850
7,795
5.000%,
6/15/29
6/26
at
100.00
A2
8,237,600
5,450
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022BB,
4.000%,
6/15/46
12/31
at
100.00
A-
5,229,493
4,390
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022CC,
5.500%,
6/15/50
12/32
at
100.00
A-
4,868,949
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A:
5,000
0.000%,
12/15/26
No
Opt.
Call
A-
4,428,200
16,495
0.000%,
12/15/33
No
Opt.
Call
A-
11,200,270
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C:
1,815
0.000%,
12/15/26
No
Opt.
Call
AA+
1,643,355
10,000
0.000%,
12/15/30
-
FGIC
Insured
No
Opt.
Call
A-
7,737,600
38,000
0.000%,
12/15/33
-
AGM
Insured
No
Opt.
Call
A
26,154,640
45,000
0.000%,
12/15/35
-
AMBAC
Insured
No
Opt.
Call
A-
27,638,550
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
Jersey
(continued)
$
10,000
0.000%,
12/15/36
-
AMBAC
Insured
No
Opt.
Call
A-
$
5,689,000
5,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2010D,
5.000%,
12/15/23
No
Opt.
Call
A-
5,043,450
7,500
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2013AA,
5.500%,
6/15/39
6/23
at
100.00
A-
7,513,350
5,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019A,
5.000%,
12/15/32
12/29
at
100.00
A-
5,552,150
5,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2019BB,
4.000%,
6/15/44
12/28
at
100.00
A-
4,854,550
10,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
4.000%,
6/15/50
12/30
at
100.00
A-
9,453,800
14,000
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Refunding
Series
2005D-1,
5.250%,
1/01/26
-
AGM
Insured
No
Opt.
Call
A1
14,790,440
1,160
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Series
2017B,
4.000%,
1/01/34
1/28
at
100.00
A1
1,205,878
1,500
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2017G,
4.000%,
1/01/33
1/28
at
100.00
A1
1,566,405
5,500
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2022B,
5.000%,
1/01/46,
(UB)
(8)
1/33
at
100.00
A1
6,101,260
3,000
Rahway
Valley
Sewerage
Authority,
New
Jersey,
Sewer
Revenue
Bonds,
Series
2005A,
0.000%,
9/01/25
-
NPFG
Insured
No
Opt.
Call
Aa3
2,788,470
3,905
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Series
2020A,
5.000%,
11/01/45
11/30
at
100.00
Baa2
4,066,394
5,000
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Series
2022A,
5.250%,
11/01/52
11/32
at
100.00
Baa2
5,312,250
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018A:
10,355
5.000%,
6/01/46
6/28
at
100.00
BBB+
10,667,825
4,710
5.250%,
6/01/46
6/28
at
100.00
BBB+
4,927,366
2,615
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
BBB-
2,604,226
Total
New
Jersey
274,341,745
New
Mexico
-
0.2%
(0.1%
of
Total
Investments)
3,955
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A,
4.000%,
8/01/48
8/29
at
100.00
Aa3
3,615,186
2,500
University
of
New
Mexico,
Revenue
Bonds,
System
Improvement
Series
2023,
5.500%,
6/01/53
-
AGM
Insured
6/33
at
100.00
Aa3
2,841,750
Total
New
Mexico
6,456,936
New
York
-
10.1%
(6.2%
of
Total
Investments)
7,000
Brooklyn
Arena
Local
Development
Corporation,
New
York,
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Barclays
Center
Project,
Series
2009,
0.000%,
7/15/45
No
Opt.
Call
Ba1
2,258,620
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
School
University,
Series
2015A:
11,930
5.000%,
7/01/50
7/25
at
100.00
BBB+
12,066,956
900
5.000%,
7/01/50,
(Pre-refunded
7/01/25)
7/25
at
100.00
N/R (4)
940,734
4,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
New
York
University,
Series
2013A,
5.000%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
Aa2 (4)
4,011,920
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
1,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Orange
Regional
Medical
Center
Obligated
Group,
Series
2017,
5.000%,
12/01/33,
144A
6/27
at
100.00
BBB-
$
1,005,200
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2015B
Group
C:
14,070
5.000%,
2/15/36
2/25
at
100.00
AA+
14,509,969
5
5.000%,
2/15/36,
(Pre-refunded
2/15/25)
2/25
at
100.00
N/R (4)
5,191
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose
Series
2022A:
10,000
4.000%,
3/15/39
3/32
at
100.00
AA+
10,133,700
19,335
5.000%,
3/15/46
3/32
at
100.00
AA+
21,193,867
4,115
4.000%,
3/15/49
3/32
at
100.00
AA+
4,020,890
14,800
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019A.
Bidding
Group
1,2,3,4,
4.000%,
3/15/48
3/29
at
100.00
Aa1
14,486,092
41,175
Dormitory
Authority
of
the
State
of
New
York,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2019D,
4.000%,
2/15/47
2/30
at
100.00
Aa1
40,464,320
10,000
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2018E
Group
2,
5.000%,
3/15/40
9/28
at
100.00
AA+
10,829,800
1,645
Genesee
County
Funding
Corporation,
New
York,
Revenue
Bonds,
Rochester
Regional
Health
Project,
Series
2022A,
5.250%,
12/01/52
12/32
at
100.00
BBB+
1,687,638
10,000
Liberty
Development
Corporation,
New
York,
Goldman
Sachs
Headquarter
Revenue
Bonds,
Series
2005,
5.250%,
10/01/35
No
Opt.
Call
BBB+
11,489,300
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2014A:
1,045
4.000%,
9/01/39
-
AGM
Insured
9/24
at
100.00
A
1,039,942
780
5.000%,
9/01/44
9/24
at
100.00
A
788,346
5,000
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2018,
5.000%,
9/01/37
9/28
at
100.00
A
5,474,700
1,000
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds, University
of
Rochester
Project,
Series
2013A,
5.000%,
7/01/43,
(Pre-refunded
7/01/23)
7/23
at
100.00
AA- (4)
1,002,850
7,225
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2014
Series
BB,
5.000%,
6/15/46
6/23
at
100.00
AA+
7,239,884
5,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
EE,
4.000%,
6/15/42
6/30
at
100.00
AA+
5,008,500
5,500
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2020
Series
GG-1,
4.000%,
6/15/50
6/30
at
100.00
AA+
5,406,280
5,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2018
Series
C-3,
5.000%,
5/01/41
5/28
at
100.00
Aa1
5,355,800
7,000
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2021
Subseries
C-1,
4.000%,
5/01/46
11/30
at
100.00
Aa1
6,868,820
9,500
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2021
Subseries
E-1,
4.000%,
2/01/42
2/31
at
100.00
Aa1
9,386,190
1,500
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2022
Subseries
F-1,
5.000%,
2/01/51
2/32
at
100.00
Aa1
1,633,605
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
2,060
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2017
Series
B-1,
5.000%,
12/01/41
12/26
at
100.00
AA
$
2,182,385
10,370
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
Series
A-1,
4.000%,
8/01/42
8/29
at
100.00
AA
10,287,973
3,500
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2020
SeriesD-1,
4.000%,
3/01/50
3/30
at
100.00
AA
3,407,460
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
F-1:
12,000
4.000%,
3/01/47
3/31
at
100.00
AA
11,739,600
12,000
5.000%,
3/01/50
3/31
at
100.00
AA
13,005,240
10
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
Series
1996J,
5.500%,
2/15/26
5/23
at
100.00
AA
10,018
5
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
Series
1997H,
6.125%,
8/01/25
5/23
at
100.00
AA
5,011
23,920
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
1
Series
2014,
5.000%,
11/15/44,
144A
11/24
at
100.00
N/R
23,243,543
1,590
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
Secured
by
Port
Authority
Consolidated
Bonds,
Refunding
Series
1WTC-2021,
4.000%,
2/15/43
-
BAM
Insured
2/30
at
100.00
AA
1,574,593
10,000
New
York
State
Thruway
Authority,
General
Revenue
Junior
Indebtedness
Obligations,
Series
2016A,
5.250%,
1/01/56
1/26
at
100.00
A-
10,355,100
5,900
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
4.000%,
3/15/50
9/32
at
100.00
AA+
5,743,709
4,000
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Transportation
Series
2021A-1,
4.000%,
3/15/44
3/31
at
100.00
AA+
3,944,640
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2022A:
25,035
5.000%,
3/15/45
9/32
at
100.00
Aa1
27,532,742
5,500
5.000%,
3/15/46
9/32
at
100.00
Aa1
6,035,480
7,500
New
York
State
Urban
Development
Corporation,
State
Sales
Tax
Revenue
Bonds,
Series
2019A,
5.000%,
3/15/40
9/29
at
100.00
Aa1
8,159,325
3,925
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
One
Hundred
Seventy
Ninth
Series
2013,
5.000%,
12/01/38
12/23
at
100.00
AA-
3,959,815
5,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
11/15/50
5/25
at
100.00
AA-
5,107,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2013A:
10,725
0.000%,
11/15/31
No
Opt.
Call
A+
8,021,335
1,105
0.000%,
11/15/32
No
Opt.
Call
A+
791,677
1,300
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2020A,
5.000%,
11/15/54
11/30
at
100.00
AA-
1,384,669
3,500
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Green
Bonds,
Series
2022D-2,
5.250%,
5/15/47
11/32
at
100.00
AA+
3,946,285
9,695
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Series
2022
A,
5.000%,
5/15/57
5/32
at
100.00
AA+
10,438,897
5,500
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Subseries
2021A-1,
5.000%,
5/15/51
5/31
at
100.00
AA+
5,956,005
2,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax
Series
2023A,
5.000%,
5/15/48
5/33
at
100.00
AA+
2,202,700
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
10,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Sales
Tax
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
TBTA
Capital
Lockbox-City
Sales
Tax,
Series
2022A,
5.250%,
5/15/57
11/32
at
100.00
AA+
$
11,057,600
5,000
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006,
5.000%,
6/01/45
6/27
at
100.00
CCC+
4,700,600
Total
New
York
383,102,516
North
Carolina
-
4.4%
(2.7%
of
Total
Investments)
Buncombe
County,
North
Carolina,
Limited
Obligation
Bonds,
Refunding
Series
2014A:
1,085
5.000%,
6/01/33,
(Pre-refunded
6/01/24)
6/24
at
100.00
AA+ (4)
1,107,459
1,600
5.000%,
6/01/34,
(Pre-refunded
6/01/24)
6/24
at
100.00
AA+ (4)
1,633,120
Catawba
County,
North
Carolina,
General
Obligation
Bonds,
Limited
Obligation
Series
2014A:
1,000
5.000%,
6/01/30
6/24
at
100.00
AA
1,021,040
730
5.000%,
6/01/31
6/24
at
100.00
AA
745,257
Charlotte,
North
Carolina,
Airport
Revenue
Bonds,
Charlotte
Douglas
International,
Refunding
Series
2017A:
1,365
5.000%,
7/01/42,
(UB)
(8)
7/27
at
100.00
Aa3
1,434,342
5,390
5.000%,
7/01/47,
(UB)
(8)
7/27
at
100.00
Aa3
5,629,424
2,045
Charlotte,
North
Carolina,
Storm
Water
Fee
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
12/01/39
12/24
at
100.00
AAA
2,087,884
Charlotte,
North
Carolina,
Water
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2015:
940
5.000%,
7/01/32
7/25
at
100.00
AAA
986,718
2,325
5.000%,
7/01/40
7/25
at
100.00
AAA
2,406,770
16,865
Charlotte,
North
Carolina,
Water
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2018,
5.000%,
7/01/44,
(UB)
(8)
7/28
at
100.00
AAA
18,265,975
2,055
Charlotte,
North
Carolina,
Water
and
Sewer
System
Revenue
Bonds,
Refunding
Series
2018,
5.000%,
7/01/44
(8)
7/28
at
100.00
AAA
2,225,709
4,000
Charlotte-Mecklenburg
Hospital
Authority,
North
Carolina,
Health
Care
Revenue
Bonds,
Doing
Business
as
Atrium
Health,
Refunding
Series
2018A,
5.000%,
1/15/36
1/29
at
100.00
AA-
4,347,880
5,000
East
Carolina
University,
North
Carolina,
General
Revenue
Bonds,
Series
2014A,
5.000%,
10/01/41,
(Pre-refunded
10/01/23)
10/23
at
100.00
Aa3 (4)
5,037,450
4,750
Greensboro,
North
Carolina,
Combined
Enterprise
System
Revenue
Bonds,
Series
2017A,
4.000%,
6/01/47
6/27
at
100.00
Aa1
4,688,963
2,000
Greensboro,
North
Carolina,
Limited
Obligation
Bonds,
Coliseum
Complex
Project,
Series
2018A,
5.000%,
4/01/42,
(Pre-refunded
4/01/28)
4/28
at
100.00
Aa2 (4)
2,238,360
500
Henderson
County,
North
Carolina,
Limited
Obligation
Bonds,
Series
2015,
5.000%,
10/01/31
10/25
at
100.00
AA
526,560
84
Hillsborough,
North
Carolina,
Special
Assessement
Revenue
Bonds,
Series
2013,
7.750%,
2/01/24
5/23
at
100.00
N/R
83,987
500
New
Hanover
County,
North
Carolina,
Hospital
Revenue
Bonds,
New
Hanover
Regional
Medical
Center,
Refunding
Series
2013,
5.000%,
10/01/26,
(Pre-refunded
10/01/23)
10/23
at
100.00
N/R (4)
503,640
6,140
New
Hanover
County,
North
Carolina,
Hospital
Revenue
Bonds,
New
Hanover
Regional
Medical
Center,
Series
2017,
5.000%,
10/01/47,
(Pre-refunded
10/01/27)
10/27
at
100.00
N/R (4)
6,779,604
1,800
North
Carolina
Agricultural
&
Technical
State
University,
General
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
10/01/40
10/25
at
100.00
A1
1,859,814
3,900
North
Carolina
Capital
Facilities
Finance
Agency,
Revenue
Bonds,
Duke
University
Project,
Refunding
Series
2016B,
5.000%,
7/01/42
10/26
at
100.00
AA+
4,152,486
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
North
Carolina
(continued)
$
9,485
North
Carolina
Capital
Facilities
Finance
Agency,
Revenue
Bonds,
Duke
University
Project,
Series
2015
A,
5.000%,
10/01/55,
(Pre-refunded
10/01/25),
(UB)
(8)
10/25
at
100.00
Aa1 (4)
$
9,982,204
1,605
North
Carolina
Capital
Facilities
Finance
Agency,
Revenue
Bonds,
Duke
University
Project,
Series
2015
A,
5.000%,
10/01/55,
(Pre-refunded
10/01/25)
(8)
10/25
at
100.00
Aa1 (4)
1,689,134
5,000
North
Carolina
Capital
Facilities
Financing
Agency,
Educational
Facility
Revenue
Bonds,
Wake
Forest
University,
Refunding
Series
2016,
4.000%,
1/01/37
7/26
at
100.00
Aa3
5,063,550
2,500
North
Carolina
Capital
Facilities
Financing
Agency,
Educational
Facility
Revenue
Bonds,
Wake
Forest
University,
Series
2018,
5.000%,
1/01/48
1/28
at
100.00
Aa3
2,656,950
2,720
North
Carolina
Medical
Care
Commission, Retirement
Facilities
First
Mortgage
Revenue
Bonds,
Southminster
Project,
Refunding
Series
2016,
5.000%,
10/01/37
10/24
at
102.00
N/R
2,519,264
1,945
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Deerfield
Episcopal
Retirement
Community,
Refunding
First
Mortgage
Series
2016,
5.000%,
11/01/37
11/26
at
100.00
A
1,999,090
3,000
North
Carolina
Medical
Care
Commission,
Health
Care
Facilities
Revenue
Bonds,
Wake
Forest
Baptist
Obligated
Group,
Series
2012A,
5.000%,
12/01/45
5/23
at
100.00
A2
2,913,690
450
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
United
Methodist
Retirement
Homes,
Refunding
Series
2013A,
5.000%,
10/01/33,
(Pre-refunded
10/01/23)
10/23
at
100.00
N/R (4)
453,092
500
North
Carolina
Medical
Care
Commission,
Revenue
Bonds,
First
Mortgage
Galloway
Ridge
Project,
Refunding
Series
2019A,
5.000%,
1/01/39
1/27
at
103.00
N/R
464,015
North
Carolina
Municipal
Power
Agency
1,
Catawba
Electric
Revenue
Bonds,
Refunding
Series
2015A:
1,545
5.000%,
1/01/28
1/26
at
100.00
A
1,631,906
1,500
5.000%,
1/01/32
1/26
at
100.00
A
1,577,625
2,020
North
Carolina
State
University
at
Raleigh,
General
Revenue
Bonds,
Series
2013A,
5.000%,
10/01/42,
(Pre-refunded
10/01/23)
10/23
at
100.00
AA (4)
2,034,706
North
Carolina
Turnpike
Authority,
Monroe
Expressway
Toll Revenue
Bonds,
Capital
Appreciation
Series
2017C:
835
0.000%,
7/01/28
7/26
at
91.99
Baa3
676,024
800
0.000%,
7/01/30
7/26
at
83.69
Baa3
589,888
850
0.000%,
7/01/31
7/26
at
79.58
Baa3
595,714
2,400
0.000%,
7/01/33
7/26
at
71.99
Baa3
1,519,368
3,160
0.000%,
7/01/36
7/26
at
61.63
Baa3
1,694,361
3,100
0.000%,
7/01/37
7/26
at
58.52
Baa3
1,571,421
1,900
0.000%,
7/01/40
7/26
at
50.36
Baa3
821,237
400
North
Carolina
Turnpike
Authority,
Monroe
Expressway
Toll Revenue
Bonds,
Series
2017A,
5.000%,
7/01/47
7/26
at
100.00
Baa3
404,940
2,200
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Refunding
Senior
Lien
Series
2017,
5.000%,
1/01/39
-
AGM
Insured
1/27
at
100.00
BBB
2,287,824
1,000
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Refunding
Series
2018,
5.000%,
1/01/40
1/29
at
100.00
BBB
1,046,570
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Senior
Lien
Series
2009B:
150
0.000%,
1/01/31
-
AGC
Insured
No
Opt.
Call
BBB
114,847
4,375
0.000%,
1/01/33
-
AGC
Insured
No
Opt.
Call
BBB
3,078,644
2,300
0.000%,
1/01/34
-
AGC
Insured
No
Opt.
Call
BBB
1,549,050
2,380
0.000%,
1/01/35
-
AGC
Insured
No
Opt.
Call
BBB
1,522,486
7,575
0.000%,
1/01/37
-
AGC
Insured
No
Opt.
Call
BBB
4,292,601
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
North
Carolina
(continued)
$
1,470
0.000%,
1/01/38
-
AGC
Insured
No
Opt.
Call
BBB
$
782,834
10,000
North
Carolina
Turnpike
Authority,
Triangle
Expressway
System
Revenue
Bonds,
Senior
Lien
Series
2019,
5.000%,
1/01/49
1/30
at
100.00
BBB
10,334,100
3,040
Oak
Island,
North
Carolina,
Enterprise
System
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
6/01/33
6/25
at
100.00
A2
3,177,925
5,000
Raleigh,
North
Carolina,
Combined
Enterprise
System
Revenue
Bonds,
Refunding
Series
2016A,
4.000%,
3/01/46
3/27
at
100.00
AAA
4,957,600
1,000
Raleigh,
North
Carolina,
General
Obligation
Bonds,
Refunding
Series
2016A,
5.000%,
9/01/26
No
Opt.
Call
AAA
1,078,360
1,000
Raleigh,
North
Carolina,
Limited
Obligation
Bonds,
Series
2013,
5.000%,
10/01/33,
(Pre-refunded
10/01/23)
10/23
at
100.00
AA+ (4)
1,007,490
Sampson
County,
North
Carolina,
Limited
Obligaiton
Bonds,
Refunding
Series
2017:
300
5.000%,
9/01/32
9/27
at
100.00
A
326,427
1,250
4.000%,
9/01/35
9/27
at
100.00
A
1,267,000
1,265
4.000%,
9/01/36
9/27
at
100.00
A
1,270,022
1,000
4.000%,
9/01/37
9/27
at
100.00
A
1,003,290
800
University
of
North
Carolina,
Charlotte,
General
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
4/01/45,
(Pre-refunded
4/01/25)
4/25
at
100.00
Aa3 (4)
833,840
170
University
of
North
Carolina,
Charlotte,
General
Revenue
Bonds,
Refunding
Series
2017A,
5.000%,
10/01/31
10/27
at
100.00
A+
186,084
University
of
North
Carolina,
Charlotte,
General
Revenue
Bonds,
Series
2014:
2,070
5.000%,
4/01/32,
(Pre-refunded
4/01/24)
4/24
at
100.00
Aa3 (4)
2,103,762
1,175
5.000%,
4/01/33,
(Pre-refunded
4/01/24)
4/24
at
100.00
Aa3 (4)
1,194,164
1,385
5.000%,
4/01/35,
(Pre-refunded
4/01/24)
4/24
at
100.00
Aa3 (4)
1,407,589
4,735
University
of
North
Carolina,
Charlotte,
General
Revenue
Bonds,
Series
2017,
5.000%,
10/01/42
10/27
at
100.00
A+
5,018,674
University
of
North
Carolina,
Greensboro,
General
Revenue
Bonds,
Series
2014:
1,000
5.000%,
4/01/32
4/24
at
100.00
A+
1,013,150
3,065
5.000%,
4/01/39
4/24
at
100.00
A+
3,105,305
4,765
University
of
North
Carolina,
Greensboro,
General
Revenue
Bonds,
Series
2018,
5.000%,
4/01/43
4/28
at
100.00
A+
5,116,180
1,250
Western
Carolina
University,
North
Carolina,
General
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
10/01/45
10/25
at
100.00
Aa3
1,285,125
Total
North
Carolina
168,981,564
North
Dakota
-
0.9%
(0.5%
of
Total
Investments)
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2017A:
1,000
5.000%,
12/01/37
12/27
at
100.00
BBB-
1,024,870
8,525
5.000%,
12/01/42
12/27
at
100.00
BBB-
8,631,818
7,070
4.000%,
12/01/47
12/27
at
100.00
BBB-
5,922,468
1,800
Grand
Forks,
North
Dakota,
Health
Care
System
Revenue
Bonds,
Altru
Health
System
Obligated
Group,
Series
2021,
4.000%,
12/01/51
12/31
at
100.00
BBB-
1,477,296
900
Grand
Forks,
North
Dakota,
Senior
Housing
&
Nursing
Facilities
Revenue
Bonds,
Valley
Homes
and
Services
Obligated
Group,
Series
2017,
5.000%,
12/01/36
12/26
at
100.00
N/R
812,502
500
Grand
Forks,
North
Dakota,
Senior
Housing
and
Nursing
Facilities
Revenue
Bonds,
Valley
Homes
Obligated
Group,
Series
2016A,
5.125%,
12/01/24
No
Opt.
Call
N/R
500,015
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
North
Dakota
(continued)
$
2,700
University
of
North
Dakota,
Certificates
of
Participation,
Housing
Infrastructure
Project,
Series
2021A,
4.000%,
6/01/51
-
AGM
Insured
6/30
at
100.00
A1
$
2,522,313
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C:
11,065
5.000%,
6/01/43
6/28
at
100.00
BB+
9,472,193
2,610
5.000%,
6/01/48
6/28
at
100.00
BB+
2,146,125
1,420
Williston,
North
Dakota,
Multifamily
Housing
Revenue
Bonds,
Eagle
Crest
Apartments
LLC
Project,
Series
2013,
7.750%,
9/01/38
(6)
9/23
at
100.00
N/R
639,000
Total
North
Dakota
33,148,600
Ohio
-
5.5%
(3.4%
of
Total
Investments)
Akron,
Bath
and
Copley
Joint
Township
Hospital
District,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Summa
Health
System,
Refunding
&
Improvement
Series
2016:
3,020
5.250%,
11/15/41
11/26
at
100.00
BBB+
3,084,507
8,255
5.250%,
11/15/46
11/26
at
100.00
BBB+
8,391,208
10,940
Allen
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Mercy
Health,
Refunding
&
Improvement
Series
2015A,
5.000%,
11/01/43
11/24
at
100.00
A+
11,130,903
8,655
Allen
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2017A,
4.000%,
8/01/38
2/28
at
100.00
A+
8,709,094
2,750
Bowling
Green
State
University,
Ohio,
General
Receipts
Bonds,
Series
2017B,
5.000%,
6/01/42
6/27
at
100.00
A+
2,894,622
25,315
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R
3,097,543
2,085
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
4.000%,
6/01/48
6/30
at
100.00
BBB+
1,845,955
41,185
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
38,446,609
5,000
Cleveland
Clinic
Health
System
Obligated
Group,
Ohio,
Martin
County
Health
Facilities
Authority,
Hospital
Revenue
Bonds,
Series
2019B,
4.000%,
1/01/43
1/29
at
100.00
AA
4,986,450
Cleveland
Heights-University
Heights
City
School
District,
Ohio,
General
Obligation
Bonds,
School
Improvement
Series
2014:
7,060
5.000%,
12/01/51,
(Pre-refunded
6/01/23)
6/23
at
100.00
A1 (4)
7,069,743
10,480
5.000%,
12/01/51,
(Pre-refunded
6/01/23)
6/23
at
100.00
N/R (4)
10,494,462
1,000
Cleveland-Cuyahoga
County
Port
Authority,
Ohio,
Cultural
Facility
Revenue
Bonds,
The
Cleveland
Museum
of
Natural
History
Project,
Series
2021,
4.000%,
7/01/51
7/31
at
100.00
A3
866,890
Cleveland-Cuyahoga
County
Port
Authroity,
Ohio,
Cultural
Facility
Revenue
Bonds,
The
Cleveland
Museum
of
Natural
History
Project,
Series
2021:
300
4.000%,
7/01/37
7/31
at
100.00
A3
306,018
300
4.000%,
7/01/38
7/31
at
100.00
A3
303,924
350
4.000%,
7/01/39
7/31
at
100.00
A3
351,162
5,165
Cuyahoga
Community
College
District,
Ohio,
General
Obligation
Bonds,
Facilities
Construction
&
Improvement
Series
2018,
4.000%,
12/01/38
6/26
at
100.00
AA
5,224,088
5,975
Fairfield
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Fairfield
Medical
Center
Project,
Series
2013,
5.000%,
6/15/43
6/23
at
100.00
Ba3
5,339,798
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
(continued)
Hamilton
County,
Ohio,
Healthcare
Revenue
Bonds,
Life
Enriching
Communities
Project,
Series
2017A:
$
1,500
5.000%,
1/01/47
1/27
at
100.00
BBB-
$
1,313,295
1,120
5.000%,
1/01/52
1/27
at
100.00
BBB-
956,693
Hamilton
County,
Ohio,
Healthcare
Revenue
Bonds,
Life
Enriching
Communities,
Refunding
&
Improvement
Series
2016:
3,425
5.000%,
1/01/46
1/26
at
100.00
BBB-
3,014,925
6,000
5.000%,
1/01/51
1/26
at
100.00
BBB-
5,144,100
3,000
Hamilton
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
TriHealth,
Inc.
Obligated
Group
Project,
Series
2017A,
5.000%,
8/15/42
8/27
at
100.00
A+
3,077,460
5,000
Miami
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Kettering
Health
Network
Obligated
Group
Project,
Refunding
Improvement
Series
2019,
5.000%,
8/01/49
8/28
at
100.00
A2
5,133,050
6,000
Middletown
City
School
District,
Butler
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2007,
5.250%,
12/01/31
-
AGM
Insured
No
Opt.
Call
A1
7,021,620
21,000
Northeast
Ohio
Regional
Sewer
District,
Wastewater
Improvement
Revenue
Bonds,
Refunding
&
Improvement
Series
2014,
5.000%,
11/15/49,
(Pre-refunded
11/15/24)
11/24
at
100.00
AA+ (4)
21,638,190
9,365
Ohio
Higher
Educational
Facility
Commission,
Revenue
Bonds,
University
of
Dayton,
Series
2018A,
5.000%,
12/01/48
6/28
at
100.00
A2
9,709,819
3,195
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Fixed
Interest
Rate
Series
2020A,
5.000%,
1/15/50
1/30
at
100.00
A
3,302,288
7,065
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Series
2021A,
4.000%,
1/15/46
7/31
at
100.00
A
6,577,798
7,550
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructure
Commission
Infrastructure
Projects,
Junior
Lien,
Capital
Appreciation
Series
2013A-3,
5.800%,
2/15/36
2/31
at
100.00
A+
8,992,956
9,000
Ohio
State,
Turnpike
Revenue
Bonds,
Ohio
Turnpike
and
Infrastructutre
Commission,
Infrastructure
Projects,
Junior
Lien
Series
2018A,
4.000%,
2/15/46
2/28
at
100.00
A+
8,737,740
4,250
Pickerington
Local
School
District,
Fairfield
and
Franklin
Counties,
Ohio,
General
Obligation
Bonds,
School
Facilities
Construction
&
Improvement,
Series
2023,
5.250%,
12/01/59
12/32
at
100.00
Aa2
4,726,255
4,190
Springboro
Community
City
School
District,
Warren
County,
Ohio,
General
Obligation
Bonds,
Refunding
Series
2007,
5.250%,
12/01/26
-
AGM
Insured
No
Opt.
Call
Aa3
4,530,060
3,670
Tuscarawas
County
Economic
Development
and
Finance
Alliance,
Ohio,
Higher
Education
Facilities
Revenue
Bonds,
Ashland
University,
Refunding
&
Improvement
Series
2015,
6.000%,
3/01/45
3/25
at
100.00
N/R
3,665,192
Total
Ohio
210,084,417
Oklahoma
-
0.3%
(0.2%
of
Total
Investments)
1,165
Norman
Regional
Hospital
Authority,
Oklahoma,
Hospital
Revenue
Bonds,
Series
2019,
5.000%,
9/01/45
9/29
at
100.00
Baa2
1,162,123
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B:
2,205
5.500%,
8/15/52
8/28
at
100.00
BB-
2,074,640
7,270
5.500%,
8/15/57
8/28
at
100.00
BB-
6,713,191
1,125
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017,
5.250%,
11/15/37
11/25
at
102.00
BBB-
1,145,385
Total
Oklahoma
11,095,339
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oregon
-
2.9%
(1.8%
of
Total
Investments)
$
17,645
Beaverton
School
District
48J,
Washington
and
Multnomah
Counties,
Oregon,
General
Obligation
Bonds,
Current
Interest
Series
2022B,
5.000%,
6/15/52
6/32
at
100.00
AA+
$
19,467,905
Clackamas
Community
College
District,
Oregon,
General
Obligation
Bonds,
Deferred
Interest
Series
2017A:
760
5.000%,
6/15/38
6/27
at
100.00
Aa1
813,717
2,750
5.000%,
6/15/39
6/27
at
100.00
Aa1
2,937,797
1,185
Clackamas
County
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Rose
Villa
Inc.,
Series
2020A,
5.375%,
11/15/55
11/25
at
102.00
N/R
1,051,912
Columbia
County
School
District
502
Saint
Helens,
Oregon,
General
Obligation
Bonds,
Series
2017:
1,310
5.000%,
6/15/38
6/27
at
100.00
Aa1
1,398,936
1,705
5.000%,
6/15/39
6/27
at
100.00
Aa1
1,816,012
4,170
Eugene,
Oregon,
Electric
Utility
Revenue
Bonds,
Series
2020A,
4.000%,
8/01/45
8/30
at
100.00
AA-
4,145,856
7,895
Oregon
Facilities
Authority,
Revenue
Bonds,
Legacy
Health
Project,
Series
2022A,
5.000%,
6/01/52
6/32
at
100.00
A+
8,223,906
Oregon
Facilities
Authority,
Revenue
Bonds,
Samaritan
Health
Services,
Refunding
Series
2016A:
6,275
5.000%,
10/01/35
10/26
at
100.00
BBB+
6,493,621
2,120
5.000%,
10/01/46
10/26
at
100.00
BBB+
2,145,292
140
5.000%,
10/01/46,
(Pre-refunded
10/01/26)
10/26
at
100.00
N/R (4)
150,193
23,400
Oregon
Health
and
Science
University,
Revenue
Bonds,
Green
Series
2021A,
4.000%,
7/01/51
1/32
at
100.00
AA-
22,811,724
8,890
Oregon
State
Department
of
Transportation,
Highway
User
Tax
Revenue
Bonds,
Senior
Lien
Series
2013A,
5.000%,
11/15/38,
(Pre-refunded
11/15/23)
11/23
at
100.00
Aa1 (4)
8,977,300
4,100
Port
of
Portland,
Oregon,
Portland
International
Airport,
Revenue
Bonds,
Series
2019
25A,
5.000%,
7/01/49
7/29
at
100.00
AA-
4,327,591
8,005
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Health
Projects,
Series
2019A,
5.000%,
5/15/44
5/29
at
100.00
A+
8,283,174
Salem
Hospital
Facility
Authority,
Oregon,
Revenue
Bonds,
Salem
Healthl
Project,
Refunding
Series
2016A:
4,000
4.000%,
5/15/41
5/26
at
100.00
A+
3,950,360
13,220
5.000%,
5/15/46
5/26
at
100.00
A+
13,530,802
500
Warm
Springs
Reservation
Confederated
Tribes,
Oregon,
Hydroelectric
Revenue
Bonds,
Tribal
Economic
Development
Bond
Pelton
Round
Butte
Project,
Taxable
Refunding
Green
Series
2019B,
5.000%,
11/01/36,
144A
5/29
at
100.00
A3
548,780
Total
Oregon
111,074,878
Pennsylvania
-
5.9%
(3.6%
of
Total
Investments)
13,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Allegheny
Health
Network
Obligated
Group
Issue,
Series
2018A,
5.000%,
4/01/47
4/28
at
100.00
A
13,280,800
Allegheny
County
Sanitary
Authority,
Pennsylvania,
Sewer
Revenue
Bonds,
Series
2020B:
1,670
4.000%,
6/01/45
12/30
at
100.00
AA-
1,626,981
2,000
4.000%,
6/01/50
12/30
at
100.00
AA-
1,911,680
Bethlehem
Authority,
Northampton
and
Lehigh
Counties,
Pennsylvania,
Guaranteed
Water
Revenue
Bonds,
Series
1998:
3,125
0.000%,
5/15/23
-
AGM
Insured
No
Opt.
Call
A1
3,120,625
3,135
0.000%,
5/15/24
-
AGM
Insured
No
Opt.
Call
A1
3,015,118
3,155
0.000%,
5/15/26
-
AGM
Insured
No
Opt.
Call
A1
2,843,065
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
4,145
0.000%,
11/15/26
-
AGM
Insured
No
Opt.
Call
A1
$
3,674,791
2,800
0.000%,
5/15/28
-
AGM
Insured
No
Opt.
Call
A1
2,368,156
3,000
0.000%,
11/15/28
-
AGM
Insured
No
Opt.
Call
A1
2,496,870
1,200
Centre
County
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Mount
Nittany
Medical
Center
Project,
Series
2018A,
5.000%,
11/15/42
11/27
at
100.00
A+
1,231,692
895
Commonwealth
Financing
Authority,
Pennsylvania,
State
Appropriation
Lease
Bonds,
Master
Settlement,
Series
2018,
5.000%,
6/01/34
6/28
at
100.00
A
967,396
Delaware
River
Joint
Toll
Bridge
Commission,
New
Jersey
and
Pennsylvania,
Bridge
System
Revenue
Bonds,
Series
2017:
21,595
5.000%,
7/01/42
7/27
at
100.00
A+
22,692,026
5,000
5.000%,
7/01/47
7/27
at
100.00
A+
5,222,100
1,050
Delaware
Valley
Regional
Finance
Authority,
Pennsylvania,
Local
Government
Revenue
Bonds,
Series
1997B,
5.700%,
7/01/27
-
AMBAC
Insured
No
Opt.
Call
A1
1,163,515
5,000
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
Penn
State
Health,
Series
2021,
5.000%,
11/01/51
11/29
at
100.00
A
5,167,000
4,915
Lancaster
County
Hospital
Authority,
Pennsylvania,
Revenue
Bonds,
United
Zion
Retirement
Community,
Series
2017A,
5.000%,
12/01/47
6/27
at
100.00
N/R
3,894,597
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Capital
Appreciation
Series
2013B:
4,480
0.000%,
12/01/31
No
Opt.
Call
A
3,306,150
5,180
0.000%,
12/01/32
No
Opt.
Call
A
3,673,967
Lehigh
County
Authority,
Pennsylvania,
Water
and
Sewer
Revenue
Bonds,
Allentown
Concession,
Series
2013A:
4,960
5.125%,
12/01/47,
(Pre-refunded
12/01/23)
12/23
at
100.00
N/R (4)
5,016,643
4,310
5.125%,
12/01/47
12/23
at
100.00
A
4,215,999
5,210
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2018A,
5.000%,
9/01/43
9/28
at
100.00
A3
5,381,826
1,000
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2019,
4.000%,
9/01/44
9/29
at
100.00
A3
939,820
5,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Health
System
Revenue
Bonds,
Albert
Einstein
Healthcare
Network
Issue,
Series
2015A,
5.250%,
1/15/45,
(Pre-refunded
1/15/25)
1/25
at
100.00
N/R (4)
5,180,900
5,005
Neshaminy
School
District,
Bucks
County,
Pennsylvania,
General
Obligation
Bonds,
Series
2022,
4.000%,
11/01/43
5/30
at
100.00
Aa1
5,059,905
630
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Series
2013A0
&
AE2,
0.900%,
12/31/23
5/23
at
100.00
N/R
113,437
293
Northampton
County
Industrial
Development
Authority,
Pennsylvania,
Recovery
Revenue
Bonds,
Northampton
Generating
Project,
Senior
Lien
Taxable
Series
2013B,
0.900%,
12/31/23
,
(cash
5.000%,
PIK
5.000%)
No
Opt.
Call
N/R
52,759
5,910
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
Pennsylvania
Health
System,
Series
2019,
4.000%,
8/15/44
8/29
at
100.00
Aa3
5,802,438
16,000
Pennsylvania
Turnpike
Commission,
Oil
Franchise
Tax
Revenue
Bonds,
Senior
Lien
Series
2021A,
4.000%,
12/01/51
12/31
at
100.00
Aa3
15,475,840
16,805
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Capital
Appreciation
Series
2009E,
6.375%,
12/01/38
12/27
at
100.00
A3
19,035,360
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
3,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015A-1,
5.000%,
12/01/45
6/25
at
100.00
A1
$
3,068,370
5,575
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2015B,
5.000%,
12/01/45
12/25
at
100.00
A1
5,731,156
6,340
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2016A-1,
5.000%,
12/01/41
6/26
at
100.00
A1
6,598,672
5,800
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2019A,
5.000%,
12/01/49
12/29
at
100.00
A1
6,117,086
6,500
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2021B,
5.000%,
12/01/46
6/31
at
100.00
A1
6,974,045
19,250
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2009C,
6.250%,
6/01/33
-
AGM
Insured
6/26
at
100.00
A1
21,244,300
7,475
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2021A,
4.000%,
12/01/45
12/30
at
100.00
A3
7,217,860
1,445
Philadelphia
Authority
for
Industrial
Development
Senior
Living
Facilities,
Philadelphia,
Pennsylvania,
Revenue
Bonds,
Wesley
Enhanced
Living
Obligated
Group,
Series
2017A,
5.000%,
7/01/37
7/27
at
100.00
BB
1,261,080
7,500
Philadelphia
School
District,
Pennsylvania,
General
Obligation
Bonds,
Series
2021A,
4.000%,
9/01/46
-
BAM
Insured
9/31
at
100.00
A1
7,243,950
3,410
Philadelphia,
Pennsylvania,
Water
and
Wastewater
Revenue
Bonds,
Series
1997A,
5.125%,
8/01/27
-
AMBAC
Insured,
(ETM)
10/21
at
100.00
A1 (4)
3,745,919
8,135
Southcentral
Pennsylvania
General
Authority,
Revenue
Bonds,
Wellspan
Health
Obligated
Group,
Series
2019A,
4.000%,
6/01/49
6/29
at
100.00
Aa3
7,639,253
Total
Pennsylvania
224,773,147
Puerto
Rico
-
1.9%
(1.2%
of
Total
Investments)
3,997
Cofina
Class
2
Trust
Tax-Exempt
Class
2054,
Puerto
Rico.
Unit
Exchanged
From
Cusip
74529JAP0,
0.000%,
8/01/54
No
Opt.
Call
N/R
816,769
625
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2005SS,
5.000%,
7/01/25
-
NPFG
Insured
5/23
at
100.00
D
625,544
1,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007VV,
5.250%,
7/01/24
No
Opt.
Call
D
1,001,690
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
5,281
4.500%,
7/01/34
7/25
at
100.00
N/R
5,295,998
9,399
4.550%,
7/01/40
7/28
at
100.00
N/R
9,001,610
20,000
0.000%,
7/01/46
7/28
at
41.38
N/R
5,464,800
22,531
4.750%,
7/01/53
7/28
at
100.00
N/R
21,124,165
19,492
5.000%,
7/01/58
7/28
at
100.00
N/R
18,821,475
1,370
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
Cofina
Project
Series
2019A-2A,
4.550%,
7/01/40
7/28
at
100.00
N/R
1,312,076
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2:
5,580
4.329%,
7/01/40
7/28
at
100.00
N/R
5,202,234
5,399
4.329%,
7/01/40
7/28
at
100.00
N/R
5,033,487
Total
Puerto
Rico
73,699,848
Rhode
Island
-
0.8%
(0.5%
of
Total
Investments)
1,315
Rhode
Island
Health
and
Educational
Building
Corporation,
Hospital
Financing
Revenue
Bonds,
Lifespan
Obligated
Group,
Refunding
Series
2016,
5.000%,
5/15/39
5/26
at
100.00
BBB+
1,325,257
174,390
Rhode
Island
Tobacco
Settlement
Financing
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2007A,
0.000%,
6/01/52
5/23
at
17.96
CCC-
28,797,021
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Rhode
Island
(continued)
$
2,235
Rhode
Island
Turnpike
and
Bridge
Authority,
Motor
Fuel
Tax
Revenue
Bonds,
Series
2016A,
5.000%,
10/01/40
4/26
at
100.00
A
$
2,312,867
Total
Rhode
Island
32,435,145
South
Carolina
-
4.0%
(2.5%
of
Total
Investments)
3,050
Charleston
County
Airport
District,
South
Carolina,
Airport
Revenue
Bonds,
Series
2019,
5.000%,
7/01/43
7/29
at
100.00
A+
3,254,502
Lexington
County
Health
Services
District,
Inc.,
South
Carolina,
Hospital
Revenue
Bonds,
Lexington
Medical
Center,
Series
2016:
1,290
5.000%,
11/01/41
5/26
at
100.00
A
1,318,483
6,820
5.000%,
11/01/46
5/26
at
100.00
A
6,915,139
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2:
26,955
0.000%,
1/01/31
-
AMBAC
Insured
No
Opt.
Call
A-
20,967,216
15,420
0.000%,
1/01/32
-
AMBAC
Insured
No
Opt.
Call
A-
11,549,889
1,370
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Bishop
Gadsden
Episcopal
Retirement
Community,
Series
2019A,
5.000%,
4/01/54
4/26
at
103.00
BBB-
1,168,144
13,475
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
Bon
Secours
Mercy
Health,
Inc,
Series
2020A,
4.000%,
12/01/44
6/30
at
100.00
A+
13,303,733
South
Carolina
Jobs-Economic
Development
Authority,
Hospital
Revenue
Bonds,
McLeod
Health
Projects,
Refunding
&
Improvement
Series
2018:
9,030
5.000%,
11/01/43
5/28
at
100.00
AA-
9,385,692
17,680
5.000%,
11/01/48
5/28
at
100.00
AA-
18,265,561
20,035
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2015A,
5.000%,
12/01/50
6/25
at
100.00
A-
20,130,367
4,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2014C,
5.000%,
12/01/46
12/24
at
100.00
A-
4,019,880
10,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B,
5.000%,
12/01/56
12/26
at
100.00
A-
10,051,400
5,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A,
4.000%,
12/01/52
6/32
at
100.00
A-
4,471,550
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022B:
3,831
4.000%,
12/01/39
6/32
at
100.00
A-
3,766,831
6,587
4.000%,
12/01/43
6/32
at
100.00
A-
6,258,440
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Series
2014A:
2,000
5.000%,
12/01/49
6/24
at
100.00
A-
2,005,440
17,240
5.500%,
12/01/54
6/24
at
100.00
A-
17,368,266
Total
South
Carolina
154,200,533
South
Dakota
-
1.4%
(0.9%
of
Total
Investments)
Sioux
Falls,
South
Dakota,
Health
Facilities
Revenue
Bonds,
Dow
Rummel
Village
Project,
Series
2017:
3,000
5.000%,
11/01/42
11/26
at
100.00
BB
2,577,690
3,150
5.125%,
11/01/47
11/26
at
100.00
BB
2,656,521
10,500
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Avera
Health
System,
Series
2014,
5.000%,
7/01/44
7/24
at
100.00
A1
10,604,685
5,205
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Avera
Health,
Refunding
Series
2017,
5.000%,
7/01/46
7/27
at
100.00
A1
5,320,915
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
South
Dakota
(continued)
$
22,800
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Monument
Health,
Inc.,
Series
2020A,
4.000%,
9/01/50
9/30
at
100.00
A1
$
21,001,080
11,825
South
Dakota
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Sanford
Health,
Series
2015,
5.000%,
11/01/45
11/25
at
100.00
A+
11,983,219
Total
South
Dakota
54,144,110
Tennessee
-
0.7%
(0.4%
of
Total
Investments)
2,180
Greeneville
Health
and
Educational
Facilities
Board,
Tennessee,
Hospital
Revenue
Bonds,
Ballad
Health,
Series
2018A,
5.000%,
7/01/35
7/28
at
100.00
A-
2,330,878
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2016:
5,000
5.000%,
9/01/36
9/26
at
100.00
BBB
5,162,300
1,000
5.000%,
9/01/47
9/26
at
100.00
BBB
984,140
Knox
County
Health,
Educational
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
University
Health
System,
Inc.,
Series
2017:
445
5.000%,
4/01/31
4/27
at
100.00
BBB
467,948
1,755
5.000%,
4/01/36
4/27
at
100.00
BBB
1,820,883
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Lipscomb
University,
Refunding
&
Improvement
Series
2016A:
2,225
5.000%,
10/01/41
10/26
at
100.00
BBB-
2,186,040
2,910
5.000%,
10/01/45
10/26
at
100.00
BBB-
2,785,860
11,000
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A
11,183,480
Total
Tennessee
26,921,529
Texas
-
11.9%
(7.3%
of
Total
Investments)
2,260
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
&
Improvement
Series
2023,
5.000%,
11/15/48
(WI/DD,
Settling
5/17/23)
11/33
at
100.00
AA-
2,499,696
14,615
Austin,
Texas,
Electric
Utility
System
Revenue
Bonds,
Refunding
Series
2015A,
5.000%,
11/15/45,
(UB)
(8)
11/25
at
100.00
AA-
14,950,414
1,000
Cedar
Hill
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
Refunding
Series
2002,
0.000%,
8/15/32
-
FGIC
Insured
No
Opt.
Call
Baa2
740,420
7,750
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien,
Series
2015A,
5.000%,
1/01/45,
(Pre-refunded
7/01/25)
7/25
at
100.00
A- (4)
8,085,885
Clifton
Higher
Education
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Uplift
Education
Charter
School,
Series
2013A:
1,925
4.350%,
12/01/42
5/23
at
100.00
BBB-
1,787,613
1,000
4.400%,
12/01/47
5/23
at
100.00
BBB-
905,870
5,000
Dallas
Area
Rapid
Transit,
Texas,
Sales
Tax
Revenue
Bonds,
Refunding
&
Improvement
Senior
Lien
Series
2021B,
5.000%,
12/01/47
12/30
at
100.00
Aa2
5,428,100
6,125
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds,
Refunding
Series
2021B,
4.000%,
11/01/45
11/30
at
100.00
A1
6,019,650
14,450
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds,
Refunding
Series
2022B,
5.000%,
11/01/50
11/32
at
100.00
A+
15,708,017
9,000
Dallas-Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds,
Refunding
Series
2021A,
4.000%,
11/01/46
11/30
at
100.00
A1
8,815,860
160
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2014A,
5.250%,
9/01/44
9/24
at
100.00
BB+
155,411
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
3,700
El
Paso
Independent
School
District,
El
Paso
County,
Texas,
General
Obligation
Bonds,
School
Building
Series
2017,
5.000%,
8/15/42
8/26
at
100.00
Aaa
$
3,895,804
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Refunding
First
Tier
Series
2020C:
3,500
4.000%,
10/01/40
4/30
at
100.00
A2
3,463,845
27,280
4.000%,
10/01/45
4/30
at
100.00
A2
26,182,798
12,695
4.000%,
10/01/49
-
AGM
Insured
4/30
at
100.00
A1
12,137,690
15,000
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
4/01/53,
(Pre-
refunded
10/01/23),
(UB)
10/23
at
100.00
N/R (4)
15,109,800
16,920
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2013B,
5.000%,
4/01/53,
(Pre-
refunded
10/01/23)
(8)
10/23
at
100.00
N/R (4)
17,043,854
5,295
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Subordinate
Lien
Series
2018A.
Tela
Supported,
5.000%,
10/01/48
4/28
at
100.00
AA
5,548,842
Grand
Parkway
Transportation
Corporation,
Texas,
System
Toll
Revenue
Bonds,
Tender
Option
Bond
Trust
2015-XF0228:
6,610
11.750%,
11/01/44,
(Pre-refunded
10/01/23),
144A,
(IF)
(8)
10/23
at
100.00
N/R (4)
6,803,739
9,275
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Memorial
Hermann
Health
System,
Series
2022A,
4.125%,
7/01/52
7/32
at
100.00
A+
9,040,899
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015:
2,845
4.000%,
12/01/45
6/25
at
100.00
AA
2,779,508
2,320
5.000%,
12/01/45
6/25
at
100.00
AA
2,365,890
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
Senior
Lien
Series
2018A:
13,890
5.000%,
8/15/43
2/28
at
100.00
AA
14,687,286
5,000
4.000%,
8/15/48
2/28
at
100.00
AA
4,806,450
4,040
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Tender
Options
Bond
Trust
2015-XF2184.
Formerly
Tender
Options
Bond
Trust
3028,
9.981%,
8/15/28
-
AGM
Insured,
144A,
(IF)
(8)
No
Opt.
Call
AAA
5,724,882
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A:
1,195
0.000%,
11/15/41
-
AGM
Insured
11/31
at
62.66
A1
504,565
2,390
0.000%,
11/15/42
-
AGM
Insured
11/31
at
59.73
A1
956,717
2,660
0.000%,
11/15/43
-
AGM
Insured
11/31
at
56.93
A1
1,010,348
7,260
0.000%,
11/15/44
-
AGM
Insured
11/31
at
54.25
A1
2,608,954
10,440
0.000%,
11/15/45
-
AGM
Insured
11/31
at
51.48
A1
3,547,094
7,165
0.000%,
11/15/49
-
AGM
Insured
11/31
at
41.91
A1
1,960,129
3,000
0.000%,
11/15/52
-
AGM
Insured
11/31
at
35.81
A1
698,250
1,000
Hidalgo
County
Regional
Mobility
Authority,
Texas,
Toll
and
Vehicle
Registration
Fee
Revenue
Bonds,
Senior
Lien
Series
2022A,
4.000%,
12/01/40
12/31
at
100.00
BBB-
903,180
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
&
Subordinate
Lien
Series
2018B:
2,000
5.000%,
7/01/43
7/28
at
100.00
A1
2,115,340
2,710
5.000%,
7/01/48
7/28
at
100.00
A1
2,840,676
710
Houston,
Texas,
Airport
System
Revenue
Bonds,
Subordinate
Lien
Series
2000B,
5.450%,
7/01/24
-
AGM
Insured
No
Opt.
Call
A+
720,870
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B:
1,495
0.000%,
9/01/23
-
AGM
Insured
No
Opt.
Call
A1
1,476,178
10,850
0.000%,
9/01/25
-
AMBAC
Insured
No
Opt.
Call
A
9,967,787
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
1,715
0.000%,
9/01/32
-
AMBAC
Insured
No
Opt.
Call
A
$
1,221,114
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A:
2,725
5.000%,
8/15/40
8/25
at
100.00
AAA
2,797,676
4,000
4.000%,
8/15/41
8/25
at
100.00
AAA
3,963,760
8,305
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2015,
5.000%,
5/15/45
5/25
at
100.00
A
8,472,512
McCamey
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Series
2013:
1,780
5.750%,
12/01/33
12/25
at
100.00
B1
1,824,553
1,800
6.125%,
12/01/38
12/25
at
100.00
B1
1,835,136
Midtown
Redevelopment
Authority,
Texas,
Tax
Increment
Contract
Revenue,
Refunding
Series
2017:
16,285
5.000%,
1/01/36
1/27
at
100.00
A3
17,326,914
10,040
5.000%,
1/01/38
-
AGM
Insured
1/27
at
100.00
A1
10,626,336
Montgomery
County
Toll
Road
Authority,
Texas,
Toll
Road
Revenue
Bonds,
Senior
Lien
Series
2018:
2,100
5.000%,
9/15/43
9/25
at
100.00
BBB-
2,106,384
1,815
5.000%,
9/15/48
9/25
at
100.00
BBB-
1,807,885
4,240
New
Braunfels,
Comal
County,
Texas,
Utility
System
Revenue
Bonds,
Refunding
Series
2022,
5.000%,
7/01/47
7/32
at
100.00
AA
4,677,314
850
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Methodist
Retirement
Communites
Crestview
Project,
Series
2016,
5.000%,
11/15/31,
(Pre-
refunded
11/15/24)
11/24
at
102.00
N/R (4)
889,585
North
Texas
Tollway
Authority,
Special
Projects
System
Revenue
Bonds,
Convertible
Capital
Appreciation
Series
2011C:
1,880
0.000%,
9/01/43,
(Pre-refunded
9/01/31)
(5)
9/31
at
100.00
N/R (4)
2,362,201
7,990
6.750%,
9/01/45,
(Pre-refunded
9/01/31)
9/31
at
100.00
N/R (4)
10,452,199
4,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Capital
Appreciation
Series
2008I,
6.500%,
1/01/43,
(Pre-
refunded
1/01/25)
1/25
at
100.00
A1 (4)
4,220,640
2,125
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D,
0.000%,
1/01/28
-
AGC
Insured
No
Opt.
Call
A1
1,833,153
12,205
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2015B,
5.000%,
1/01/45
1/25
at
100.00
A1
12,428,840
5,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2018,
5.000%,
1/01/48
1/28
at
100.00
A2
5,226,300
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier,
Series
2015A:
6,285
5.000%,
1/01/33
1/25
at
100.00
A2
6,495,610
4,000
5.000%,
1/01/34
1/25
at
100.00
A2
4,129,320
4,000
5.000%,
1/01/35
1/25
at
100.00
A2
4,123,000
2,250
Red
River
Education
Finance
Corporation,
Texas,
Higher
Education
Revenue
Bonds,
Saint
Edward?s
University
Project,
Series
2016,
4.000%,
6/01/36
6/26
at
100.00
BBB
2,112,637
2,000
San
Antonio,
Texas,
General
Obligation
Bonds,
General
Improvement
Series
2021,
4.000%,
8/01/41
8/31
at
100.00
AA+
2,053,980
7,975
Tarrant
County
College
District,
Texas,
General
Obligation
Bonds,
Series
2022,
5.000%,
8/15/39
8/32
at
100.00
AAA
9,023,792
3,480
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Refunding
Series
2013,
5.500%,
9/01/43,
(Pre-refunded
9/01/23)
9/23
at
100.00
A3 (4)
3,505,752
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
2,500
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Methodist
Hospital
of
Dallas,
Series
2022,
4.000%,
10/01/47
4/32
at
100.00
N/R
$
2,400,350
4,000
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Scott
&
White
Healthcare
Project,
Series
2013A,
5.000%,
8/15/43,
(Pre-refunded
8/15/23)
8/23
at
100.00
Aa3 (4)
4,019,760
1,500
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Christus
Health,
Series
2022A,
4.000%,
7/01/53
7/32
at
100.00
A1
1,404,900
2,500
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Texas
Health
Resources
System,
Series
2016A,
5.000%,
2/15/41
8/26
at
100.00
AA
2,579,375
Texas
Private
Activity
Bond
Surface
Transportation
Corporation,
Senior
Lien
Revenue
Bonds,
LBJ
Infrastructure
Group
LLC
IH-635
Managed
Lanes
Project,
Refunding Series
2020A:
1,805
4.000%,
12/31/37
12/30
at
100.00
Baa2
1,742,691
1,200
4.000%,
6/30/38
12/30
at
100.00
Baa2
1,157,112
1,300
4.000%,
6/30/39
12/30
at
100.00
Baa2
1,244,542
7,345
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
First
Tier
Series
2015B,
5.000%,
8/15/37
8/24
at
100.00
A3
7,478,018
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2015C:
3,650
5.000%,
8/15/33
8/24
at
100.00
Baa1
3,725,409
6,385
5.000%,
8/15/37
8/24
at
100.00
Baa1
6,478,923
44,120
5.000%,
8/15/42
8/24
at
100.00
Baa1
44,597,820
4,000
Texas
Turnpike
Authority,
Central
Texas
Turnpike
System
Revenue
Bonds,
First
Tier
Series
2002A,
0.000%,
8/15/25
-
AMBAC
Insured
No
Opt.
Call
A3
3,705,040
5,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2019A,
4.000%,
10/15/49
10/29
at
100.00
AAA
4,904,300
10,500
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021,
4.000%,
10/15/51
10/31
at
100.00
AAA
10,228,050
7,000
West
Harris
County
Regional
Water
Authority,
Texas,
Water
System
Revenue
Bonds,
Series
2022,
5.000%,
12/15/57
-
AGM
Insured
12/32
at
100.00
A1
7,676,900
Total
Texas
452,858,094
Utah
-
0.4%
(0.3%
of
Total
Investments)
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017B:
3,560
5.000%,
7/01/42
7/27
at
100.00
A
3,710,125
1,975
5.000%,
7/01/47
7/27
at
100.00
A
2,045,804
4,000
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2018B,
5.000%,
7/01/48
7/28
at
100.00
A
4,173,920
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Utah
Charter
Academies
Project,
Series
2018:
1,000
5.000%,
10/15/38
10/27
at
100.00
AA
1,037,360
2,320
5.000%,
10/15/43
10/27
at
100.00
AA
2,380,413
2,040
5.000%,
10/15/48
10/27
at
100.00
AA
2,081,759
Total
Utah
15,429,381
Vermont
-
0.3%
(0.2%
of
Total
Investments)
University
of
Vermont
and
State
Agricultural
College,
General
Obligation
Bonds,
Series
2015:
1,000
4.000%,
10/01/40
10/25
at
100.00
A+
991,160
10,000
5.000%,
10/01/45
10/25
at
100.00
A+
10,220,700
Total
Vermont
11,211,860
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virgin
Islands
-
0.1%
(0.0%
of
Total
Investments)
$
2,645
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/32
No
Opt.
Call
N/R
$
2,684,516
Total
Virgin
Islands
2,684,516
Virginia
-
0.4%
(0.2%
of
Total
Investments)
Arlington
County
Industrial
Development
Authority,
Virginia,
Hospital
Facility
Revenue
Bonds,
Virginia
Hospital
Center,
Series
2020:
1,385
4.000%,
7/01/39
7/30
at
100.00
A+
1,396,080
1,610
4.000%,
7/01/40
7/30
at
100.00
A+
1,617,905
430
Chesapeake,
Virginia,
Transportation
System
Senior
Toll
Road
Revenue
Bonds,
Capital
Appreciation
Series
2012B,
0.000%,
7/15/40
(5)
7/28
at
100.00
BBB+
439,228
4,000
Fairfax
County
Industrial
Development
Authority,
Virginia,
Healthcare
Revenue
Bonds,
Inova
Health
System,
Series
2018A,
4.000%,
5/15/48,
(UB)
(8)
5/28
at
100.00
Aa2
3,854,480
8,075
Hampton
Roads
Transportation
Accountability
Commission,
Virginia,
Revenue
Bonds,
Hampton
Roads
Transportation
Fund,
Senior
Lien
Series
2022A,
4.000%,
7/01/52
7/32
at
100.00
AA
7,810,382
Total
Virginia
15,118,075
Washington
-
3.7%
(2.3%
of
Total
Investments)
7,000
Central
Puget
Sound
Regional
Transit
Authority,
Washington,
Sales
Tax
and
Motor
Vehicle
Excise
Tax
Bonds,
Green
Series
2016S-1,
5.000%,
11/01/41
11/26
at
100.00
Aa1
7,347,620
12,235
Chelan
County
Public
Utility
District
1,
Washington,
Columbia
River-
Rock
Island
Hydro-Electric
System
Revenue
Refunding
Bonds,
Series
1997A,
0.000%,
6/01/26
-
NPFG
Insured
No
Opt.
Call
AA
11,084,054
4,200
King
County
Public
Hospital
District
1,
Washington,
Limited
Tax
General
Obligation
Bonds,
Valley
Medical
Center,
Refunding
Series
2016,
5.000%,
12/01/36
12/26
at
100.00
BBB+
4,370,142
8,075
King
County
Public
Hospital
District
1,
Washington,
Limited
Tax
General
Obligation
Bonds,
Valley
Medical
Center,
Refunding
Series
2018,
5.000%,
12/01/43
12/28
at
100.00
A2
8,434,095
10,630
King
County
Public
Hospital
District
2,
Washington,
General
Obligation
Bonds,
EvergreenHealth,
Limited
Tax
2020A,
4.000%,
12/01/45
12/29
at
100.00
Aa3
10,070,330
3,000
Port
of
Seattle,
Washington,
Revenue
Bonds,
Intermediate
Lien
Series
2015A,
5.000%,
4/01/40
10/24
at
100.00
A1
3,037,200
1,250
Seattle
Housing
Authority,
Washington,
Pooled
Housing
Revenue
Bonds,
Refunding
Series
2014,
5.000%,
12/01/44,
(Pre-refunded
12/01/23)
12/23
at
100.00
AA (4)
1,261,950
15,000
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
4.000%,
7/01/47
7/31
at
100.00
AA
14,591,250
10,000
Seattle,
Washington,
Municipal
Light
and
Power
Revenue
Bonds,
Refunding
&
Improvement
Series
2022,
5.000%,
7/01/52
7/32
at
100.00
AA
11,061,900
10,520
Snohomish
County
Public
Utility
District
1,
Washington,
Electric
System
Revenue
Bonds,
Series
2021A,
5.000%,
12/01/51
12/31
at
100.00
AA-
11,426,088
12,515
Spokane
Public
Facilities
District,
Washington,
Hotel,
Motel,
and
Sales
Use
Tax
Revenue
Bonds,
Series
2013A,
5.000%,
12/01/38,
(Pre-
refunded
6/01/23)
6/23
at
100.00
BBB+ (4)
12,531,269
5,250
Tacoma,
Washington,
Sewer
Revenue
Bonds,
Series
2018,
4.000%,
12/01/48
12/28
at
100.00
Aa2
5,100,690
555
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1,
4.000%,
8/01/44
8/29
at
100.00
Baa1
522,405
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Washington
(continued)
$
5,180
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2,
5.000%,
8/01/44
8/29
at
100.00
Baa1
$
5,350,940
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2012A:
4,000
5.000%,
10/01/32
5/23
at
100.00
A
4,000,560
10,000
4.250%,
10/01/40
5/23
at
100.00
A
9,747,200
3,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D,
5.000%,
10/01/41
10/24
at
100.00
A
2,997,030
5,160
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Seattle
Children's
Hospital,
Series
2015A,
4.000%,
10/01/45
4/30
at
100.00
Aa2
4,954,374
2,600
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2021B. Exchange
Purchase,
3.000%,
7/01/58
7/31
at
100.00
BB+
1,656,668
2,525
Washington
State
Higher
Education
Facilities
Authority,
Revenue
Bonds,
Seattle
University,
Series
2020,
4.000%,
5/01/45
5/30
at
100.00
A
2,391,074
500
Washington
State
Housing
Finance
Commission,
Non-profit
Housing
Revenue
Bonds,
Presbyterian
Retirement
Communities
Northwest
Project,
Refunding
Series
2016A,
5.000%,
1/01/46,
144A
1/25
at
102.00
BB
376,115
9,000
Washington
State,
Motor
Vehicle
Fuel
Tax
General
Obligation
Bonds,
Series
2003C,
0.000%,
6/01/28
-
FGIC
Insured
No
Opt.
Call
AA+
7,724,250
Total
Washington
140,037,204
West
Virginia
-
1.0%
(0.6%
of
Total
Investments)
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Refunding
&
Improvement
Series
2013A:
3,000
5.375%,
6/01/38,
(Pre-refunded
6/01/23)
6/23
at
100.00
A (4)
3,004,680
16,845
5.500%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A (4)
16,872,963
9,000
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
West
Virginia
United
Health
System
Obligated
Group,
Series
2018A,
5.000%,
6/01/52
6/28
at
100.00
A
9,073,080
3,500
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System
Obligated
Group,
Improvement
Series
2017A,
5.000%,
6/01/47
6/27
at
100.00
A
3,540,495
5,750
West
Virginia
State,
General
Obligation
Bonds,
State
Road
Competitive
Series
2018B,
4.000%,
6/01/42
6/28
at
100.00
AA-
5,758,912
Total
West
Virginia
38,250,130
Wisconsin
-
3.9%
(2.4%
of
Total
Investments)
Public
Finance
Authority
of
Wisconsin,
Conference
Center
and
Hotel
Revenue
Bonds,
Lombard
Public
Facilities
Corporation,
Second
Tier
Series
2018B:
43
0.000%,
1/01/46,
144A
(6)
No
Opt.
Call
N/R
1,012
42
0.000%,
1/01/47,
144A
(6)
No
Opt.
Call
N/R
929
42
0.000%,
1/01/48,
144A
(6)
No
Opt.
Call
N/R
878
42
0.000%,
1/01/49,
144A
(6)
No
Opt.
Call
N/R
825
41
0.000%,
1/01/50,
144A
(6)
No
Opt.
Call
N/R
758
45
0.000%,
1/01/51,
144A
(6)
No
Opt.
Call
N/R
791
1,163
1.000%,
7/01/51,
144A
(6)
3/28
at
100.00
N/R
675,175
45
0.000%,
1/01/52,
144A
(6)
No
Opt.
Call
N/R
733
44
0.000%,
1/01/53,
144A
(6)
No
Opt.
Call
N/R
688
44
0.000%,
1/01/54,
144A
(6)
No
Opt.
Call
N/R
645
43
0.000%,
1/01/55,
144A
(6)
No
Opt.
Call
N/R
604
43
0.000%,
1/01/56,
144A
(6)
No
Opt.
Call
N/R
569
42
0.000%,
1/01/57,
144A
(6)
No
Opt.
Call
N/R
534
42
0.000%,
1/01/58,
144A
(6)
No
Opt.
Call
N/R
499
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
42
0.000%,
1/01/59,
144A
(6)
No
Opt.
Call
N/R
$
473
41
0.000%,
1/01/60,
144A
(6)
No
Opt.
Call
N/R
442
41
0.000%,
1/01/61,
144A
(6)
No
Opt.
Call
N/R
412
40
0.000%,
1/01/62,
144A
(6)
No
Opt.
Call
N/R
388
40
0.000%,
1/01/63,
144A
(6)
No
Opt.
Call
N/R
363
39
0.000%,
1/01/64,
144A
(6)
No
Opt.
Call
N/R
345
39
0.000%,
1/01/65,
144A
(6)
No
Opt.
Call
N/R
322
39
0.000%,
1/01/66,
144A
(6)
No
Opt.
Call
N/R
294
501
0.000%,
1/01/67,
144A
(6)
No
Opt.
Call
N/R
3,474
2,250
Public
Finance
Authority
of
Wisconsin,
Health
Care
Facilities
Revenue
Bonds,
Appalachian
Regional
Healthcare
System
Obligated
Group,
Series
2021A,
4.000%,
7/01/56
1/31
at
100.00
BBB
1,789,335
Public
Finance
Authority,
Wisconsin,
Educational
Revenue
Bonds,
Lake
Norman
Charter
School,
Series
2018A:
6,000
5.000%,
6/15/38,
144A
6/26
at
100.00
BBB-
6,030,000
2,335
5.000%,
6/15/48,
144A
6/26
at
100.00
BBB-
2,302,964
10,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2013B-1,
4.000%,
11/15/43
5/28
at
100.00
Aa2
9,580,600
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Aspirus,
Inc.
Obligated
Group,
Inc.
Project,
Series
2021:
9,830
4.000%,
8/15/46
8/31
at
100.00
A1
9,061,982
8,000
4.000%,
8/15/51
8/31
at
100.00
A1
7,182,320
10,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Marshfield
Clinic
Health
System,
Inc.,
Series
2017C,
5.000%,
2/15/47
2/27
at
100.00
BBB+
9,952,200
2,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016B,
5.000%,
2/15/35
2/26
at
100.00
BBB+
2,055,720
7,625
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mercy
Alliance,
Inc.,
Series
2012,
5.000%,
6/01/39
5/23
at
100.00
A3
7,483,937
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
PHW
Muskego,
Inc.
Project,
Series
2021:
2,415
4.000%,
10/01/51
10/28
at
102.00
N/R
1,726,653
2,470
4.000%,
10/01/61
10/28
at
102.00
N/R
1,656,505
5,155
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2016A,
4.000%,
11/15/34
5/26
at
100.00
Aa2
5,260,987
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Benevolent
Corporation
Cedar
Community,
Series
2017:
1,110
5.000%,
6/01/37
6/25
at
103.00
N/R
1,012,298
955
5.000%,
6/01/41
6/25
at
103.00
N/R
841,794
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Franciscan
Sisters
of
Christian
Charity
Sponsored
Ministry,
Series
2017A:
1,000
5.000%,
9/01/30,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
1,093,400
1,110
5.000%,
9/01/31,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
1,213,674
1,100
5.000%,
9/01/32,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
1,202,740
1,725
5.000%,
9/01/33,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
1,886,115
1,775
5.000%,
9/01/34,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
1,940,785
1,910
5.000%,
9/01/35,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
2,088,394
2,065
5.000%,
9/01/36,
(Pre-refunded
9/01/27)
9/27
at
100.00
N/R (4)
2,257,871
15,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2022A,
4.000%,
4/01/41
10/32
at
100.00
AA
14,463,300
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A:
$
1,215
5.000%,
2/15/42
2/26
at
100.00
BBB+
$
1,223,007
7,000
5.000%,
2/15/46
2/26
at
100.00
BBB+
6,992,860
5,000
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-
5,210,050
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Medical
College
of
Wisconsin,
Inc.,
Series
2022:
10,000
4.000%,
12/01/46
12/31
at
100.00
AA-
9,476,000
10,000
4.000%,
12/01/51
12/31
at
100.00
AA-
9,371,700
2,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Oakwood
Lutheran
Senior
Ministries,
Series
2021,
4.000%,
1/01/47
1/27
at
103.00
N/R
1,449,640
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
John's
Communities
Inc.,
Series
2018A:
1,240
5.000%,
9/15/31,
(Pre-refunded
9/15/23)
9/23
at
100.00
BBB- (4)
1,247,291
7,955
5.000%,
9/15/50,
(Pre-refunded
9/15/23)
9/23
at
100.00
BBB- (4)
8,001,776
11,480
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
ThedaCare
Inc,
Series
2015,
5.000%,
12/15/44
12/24
at
100.00
A1
11,573,562
Total
Wisconsin
147,320,613
Wyoming
-
0.3%
(0.2%
of
Total
Investments)
9,625
Sweetwater
County,
Wyoming,
Hospital
Revenue
Bonds,
Memorial
Hospital
Project,
Refunding
Series
2013A,
5.000%,
9/01/37,
(Pre-
refunded
9/01/23)
9/23
at
100.00
N/R (4)
9,670,719
Total
Wyoming
9,670,719
Total
Municipal
Bonds
(cost
$6,110,480,529)
6,170,811,121
Total
Long-Term
Investments
(cost
$6,110,480,529)
6,170,811,121
Floating
Rate
Obligations
-
(2.4)%
(89,875,000)
AMTP
Shares,
Net-
(4.5)%(9)
(172,919,222)
MFP
Shares,
Net
-
(27.2)%(10)
(1,036,831,144)
VRDP
Shares,
Net-
(30.3)%(11)
(1,154,496,882)
Other
Assets
&
Liabilities,
Net
-
2.3%
90,316,129
Net
Assets
Applicable
to
Common
Shares
-
100%
$
3,807,005,002
(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.
(3)
The
ratings
disclosed
are
the
lowest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
Ratings
below
BBB
by
Standard
&
Poor’s,
Baa
by
Moody’s
or
BBB
by
Fitch
are
considered
to
be
below
investment
grade.
Holdings
designated
N/R
are
not
rated
by
any
of
these
national
rating
agencies.
(4)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(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)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(8)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(9)
AMTP
Shares,
Net
as
a
percentage
of
Total
Investments
is
2.8%
(10)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
16.8%.
(11)
VRDP
Shares,
Net
as
a
percentage
of
Total
Investments
is
18.7%.
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
April
30,
2023
(Unaudited)
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.
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.
PIK
Payment-in-kind
(“PIK”)
security. Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both. The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
See
Notes
to
Financial
Statements
Statement
of
Assets
and
Liabilities
See
Notes
to
Financial
Statements
e
April
30,
2023
(Unaudited)
NAD
NEA
ASSETS
Long-term
investments,
at
value
†
$
4,977,999,385
$
6,170,811,121
Short-term
investments,
at
value
◊
16,400,000
–
Cash
5,155,657
390,934
Receivables:
Dividends
313
–
Interest
68,644,853
83,433,302
Investments
sold
25,973,867
41,848,289
Other
assets
1,446,570
2,436,126
Total
assets
5,095,620,645
6,298,919,772
LIABILITIES
Floating
rate
obligations
90,020,000
89,875,000
AMTP
Shares,
Net
*
727,239,131
172,919,222
MFP
Shares,
Net
**
678,499,765
1,036,831,144
VRDP
Shares,
Net
***
503,473,283
1,154,496,882
Payables:
Dividends
8,375,387
10,005,020
Interest
1,712,646
1,913,767
Investments
purchased
-
regular
settlement
6,811,627
6,250,420
Investments
purchased
-
when-issued/delayed-delivery
settlement
15,710,729
14,728,647
Accrued
expenses:
Custodian
fees
346,674
369,416
Investor
relations
85,432
106,875
Management
fees
2,302,144
2,837,565
Trustees
fees
1,058,040
1,431,184
Professional
fees
7,073
–
Shareholder
reporting
expenses
83,967
101,511
Shareholder
servicing
agent
fees
17,248
17,631
Other
18,249
30,486
Total
liabilities
2,035,761,395
2,491,914,770
Commitments
and
contingencies
(1)
Net
assets
applicable
to
common
shares
$
3,059,859,250
$
3,807,005,002
Common
shares
outstanding
233,404,656
299,037,392
Net
asset
value
("NAV")
per
common
share
outstanding
$
13
.11
$
12
.73
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
CONSIST
OF:
Common
shares,
$0.01
par
value
per
share
$
2,334,047
$
2,990,374
Paid-in
capital
3,239,992,728
4,013,797,096
Total
distributable
earnings
(loss)
(
182,467,525
)
(
209,782,468
)
Net
assets
applicable
to
common
shares
$
3,059,859,250
$
3,807,005,002
Authorized
shares:
Common
Unlimited
Unlimited
Preferred
Unlimited
Unlimited
†
Long-term
investments,
cost
$
4,940,139,151
$
6,110,480,529
◊
Short-term
investments,
cost
$
16,400,000
$
—
*
AMTP
Shares,
liquidation
preference
727,500,000
173,000,000
**
MFP
Shares,
liquidation
preference
679,000,000
1,038,900,000
***
VRDP
Shares,
liquidation
preference
504,300,000
1,159,400,000
(1)
As
disclosed
in
Notes
to
Financial
Statements.
See
Notes
to
Financial
Statements
Six
Months
Ended
April
30,
2023
(Unaudited)
NAD
NEA
INVESTMENT
INCOME
Interest
$
111,492,208
$
133,867,777
Total
investment
income
111,492,208
133,867,777
EXPENSES
–
–
Management
fees
13,767,089
16,981,885
Shareholder
servicing
agent
fees
52,709
57,475
Interest
expense
and
amortization
of
offering
costs
35,893,382
39,959,652
Trustees
fees
69,495
86,769
Custodian
expenses,
net
190,458
194,354
Investor
relations
expenses
67,850
73,889
Liquidity
fees
1,955,779
5,331,301
Professional
fees
164,194
191,235
Remarketing
fees
256,033
1,113,477
Shareholder
reporting
expenses
105,508
129,974
Stock
exchange
listing
fees
34,099
79,075
Other
72,679
104,087
Total
expenses
52,629,275
64,303,173
Net
investment
income
(loss)
58,862,933
69,564,604
REALIZED
AND
UNREALIZED
GAIN
(LOSS)
Realized
gain
(loss)
from:
Investments
(31,076,993)
(42,813,972)
Net
realized
gain
(loss)
(31,076,993)
(42,813,972)
Change
in
unrealized
appreciation
(depreciation)
on:
Investments
324,675,388
411,990,441
Change
in
net
unrealized
appreciation
(depreciation)
324,675,388
411,990,441
Net
realized
and
unrealized
gain
(loss)
293,598,395
369,176,469
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
$
352,461,328
$
438,741,073
Statement
of
Changes
in
Net
Assets
See
Notes
to
Financial
Statements
NAD
NEA
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
Unaudited
Six
Months
Ended
4/30/23
Year
Ended
10/31/22
OPERATIONS
Net
investment
income
(loss)
$
58,862,933
$
148,191,328
$
69,564,604
$
179,487,588
Net
realized
gain
(loss)
(31,076,993)
(127,718,956)
(42,813,972)
(178,698,633)
Change
in
net
unrealized
appreciation
(depreciation)
324,675,388
(854,448,481)
411,990,441
(1,066,387,164)
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
352,461,328
(833,976,109)
438,741,073
(1,065,598,209)
DISTRIBUTIONS
TO
COMMON
SHAREHOLDERS
Dividends
(58,234,461)
(159,765,489)
(68,479,563)
(194,972,381)
Decrease
in
net
assets
applicable
to
common
shares
from
distributions
to
common
shareholders
(58,234,461)
(159,765,489)
(68,479,563)
(194,972,381)
Net
increase
(decrease)
in
net
assets
applicable
to
common
shares
294,226,867
(993,741,598)
370,261,510
(1,260,570,590)
Net
assets
applicable
to
common
shares
at
the
beginning
of
the
period
2,765,632,383
3,759,373,981
3,436,743,492
4,697,314,082
Net
assets
applicable
to
common
shares
at
the
end
of
the
period
$
3,059,859,250
$
2,765,632,383
$
3,807,005,002
$
3,436,743,492
See
Notes
to
Financial
Statements
The
following
table
provides
a
reconciliation
of
cash
and
cash
collateral
at
brokers
to
the
Statement
of
Assets
and
Liabilities:
April
30,
2023
(Unaudited)
NAD
NEA
CASH
FLOWS
FROM
OPERATING
ACTIVITIES
Net
Increase
(Decrease)
in
Net
Assets
Applicable
to
Common
Shares
from
Operations
$
352,461,328
$
438,741,073
Adjustments
to
reconcile
the
net
increase
(decrease)
in
net
assets
applicable
to
common
shares
from
operations
to
net
cash
provided
by
(used
in)
operating
activities:
Purchases
of
investments
(535,608,036)
(505,144,355)
Proceeds
from
sale
and
maturities
of
investments
568,411,409
595,390,164
Proceeds
from
(Purchase
of)
short-term
investments,
net
(16,400,000)
—
Taxes
paid
(14,217)
(8,183)
Amortization
(Accretion)
of
premiums
and
discounts,
net
(3,178,506)
(2,404,248)
Amortization
of
deferred
offering
costs
424,747
527,271
(Increase)
Decrease
in:
Receivable
for
dividends
106
—
Receivable
for
interest
605,364
(1,668,895)
Receivable
for
investments
sold
37,891,134
7,527,156
Other
assets
(41,752)
(170,512)
Increase
(Decrease)
in:
Payable
for
interest
1,084,999
1,044,486
Payable
for
investments
purchased
-
regular
settlement
6,811,627
36,834
Payable
for
investments
purchased
-
when-issued/delayed-delivery
settlement
7,328,826
6,181,694
Accrued
custodian
fees
(65,437)
(70,334)
Accrued
investor
relations
fees
(39,365)
(59,612)
Accrued
management
fees
(36,641)
(60,678)
Accrued
Trustees
fees
64,409
89,062
Accrued
professional
fees
(73,448)
(90,691)
Accrued
shareholder
reporting
expenses
494
973
Accrued
shareholder
servicing
agent
fees
(616)
(2,756)
Accrued
other
expenses
(50,187)
(7,159)
Net
realized
(gain)
loss
from
investments
31,076,993
42,813,972
Net
realized
(gain)
loss
from
paydowns
(60,673)
(16,174)
Change
in
net
unrealized
(appreciation)
depreciation
of
investments
(324,675,388)
(411,990,441)
Net
cash
provided
by
operating
activities
125,917,170
170,658,647
CASH
FLOWS
FROM
FINANCING
ACTIVITIES
Proceeds
from
borrowings
23,209,620
36,452,584
(Repayments)
of
borrowings
(75,609,620)
(65,952,584)
Proceeds
from
floating
rate
obligations
5,950,000
750,000
(Repayments
of)
floating
rate
obligations
(12,615,000)
(22,440,000)
(Repayments
for)
AMTP
Shares
redeemed,
at
liquidation
preference
—
(143,500,000)
(Repayments
for)
MFP
Shares
redeemed,
at
liquidation
preference
—
(50,000,000)
(Rep
ayments
for)
VRDP
Shares
redeemed,
at
liquidation
preference
(127,700,000)
—
Increase
(Decrease)
in
cash
overdraft
(1,608,731)
—
Cash
distributions
paid
to
common
shareholders
(60,087,782)
(71,166,515)
Net
cash
provided
by
(used
in)
financing
activities
(248,461,513)
(315,856,515)
Net
increase
(decrease)
in
cash
and
cash
collateral
at
brokers
(122,544,343)
(145,197,868)
Cash
and
Cash
Collateral
at
Brokers
at
the
beginning
of
period
127,700,000
145,588,802
Cash
at
the
end
of
period
$
5,155,657
$
390,934
SUPPLEMENTAL
DISCLOSURE
OF
CASH
FLOW
INFORMATION
NAD
NEA
Cash
paid
for
interest
$
34,359,270
$
38,330,216
NAD
NEA
Cash
$
5,155,657
$
390,934
Total
cash
and
cash
collateral
at
brokers
$
5,155,657
$
390,934
Ratios
of
Interest
Expense
to
Average
Net
Assets
Applicable
to
Common
Shares
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
Net
Asset
Value
Net
Investment
Income
(NII)
(Loss)
Net
Realized/
Unrealized
Gain
(Loss)
Total
From
NII
From
Net
Realized
Gains
Total
Discount
Per
Share
Repurchased
and
Retired
Ending
Net
Asset
Value
Ending
Share
Price
NAD
4/30/23(c)
$
11.85
$
0.25
$
1.26
$
1.51
$
(0.25)
$
—
$
(0.25)
$
—
$
13.11
$
11.47
10/31/22
16.11
0.63
(4.21)
(3.58)
(0.68)
—
(0.68)
—
11.85
10.63
10/31/21
15.75
0.72
0.35
1.07
(0.71)
—
(0.71)
—
16.11
15.63
10/31/20
15.91
0.70
(0.19)
0.51
(0.67)
—
(0.67)
—
15.75
14.44
10/31/19
14.42
0.67
1.46
2.13
(0.64)
—
(0.64)
—
15.91
14.42
10/31/18
15.41
0.69
(0.99)
(0.30)
(0.69)
—
(0.69)
—(e)
14.42
12.41
NEA
4/30/23(c)
11.49
0.23
1.24
1.47
(0.23)
—
(0.23)
—
12.73
11.11
10/31/22
15.71
0.60
(4.17)
(3.57)
(0.65)
—
(0.65)
—
11.49
10.32
10/31/21
15.50
0.69
0.22
0.91
(0.70)
—
(0.70)
—
15.71
15.18
10/31/20
15.58
0.69
(0.11)
0.58
(0.66)
—
(0.66)
—
15.50
14.33
10/31/19
14.16
0.66
1.40
2.06
(0.64)
—
(0.64)
—
15.58
14.20
10/31/18
15.07
0.68
(0.91)
(0.23)
(0.68)
—
(0.68)
—(e)
14.16
12.13
(a)
Percentage
is
not
annualized.
(b)
•
Net
Investment
Income
(Loss)
ratios
reflect
income
earned
and
expenses
incurred
on
assets
attributable
to
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements),
where
applicable.
•
The
expense
ratios
reflect,
among
other
things,
all
interest
expense
and
other
costs
related
to
borrowings
and/or
reverse
repurchase
agreements
(as
described
in
Notes
to
Financial
Statements)
and/or
the
interest
expense
deemed
to
have
been
paid
by
the
Fund
on
the
floating
rate
certificates
issued
by
the
special
purpose
trusts
for
the
self-deposited
inverse
floaters
held
by
the
Fund
(as
described
in
Notes
to
Financial
Statements),
where
applicable,
as
follows:
See
notes
to
financial
statements
Common
Share
Supplemental
Data/
Ratios
Applicable
to
Common
Shares
Common
Share
Total
Returns
Ratios
to
Average
Net
Assets
Based
on
Net
Asset
Value(a)
Based
on
Share
Price(a)
Ending
Net
Assets
(000)
Expenses(b)
Net
Investment
Income
(Loss)
Portfolio
Turnover
Rate
12.77
%
10.25
%
$
3,059,859
3.51
%
(d)
3.92
%
(d)
11
%
(22.79)
(28.38)
2,765,632
2.02
4.44
37
6.85
13.31
3,759,374
1.44
4.43
10
3.27
4.89
3,334,252
1.87
4.47
15
15.03
21.78
3,211,273
2.45
4.35
8
(2.03)
(5.69)
2,910,735
2.34
4.57
20
12.81
9.87
3,807,005
3.44
(d)
3.72
(d)
8
(23.31)
(28.47)
3,436,743
2.01
4.31
36
5.91
10.92
4,697,314
1.44
4.31
12
3.84
5.74
4,318,384
1.85
4.46
16
14.81
22.78
4,093,389
2.40
4.41
8
(1.62)
(5.84)
3,719,774
2.29
4.63
11
(c)
Unaudited.
(d)
Annualized.
(e)
Value
rounded
to
zero.
Financial
Highlights
(continued)
Asset
Coverage
Per
$1,000
Share(c)
The
following
table
sets
forth
information
regarding
each
Fund's
outstanding
senior
securities
as
of
the
end
of
each
of
the
Fund's
last
five
fiscal
periods,
as
applicable.
AMTP
Shares
MFP
Shares
VMTP
Shares
VRDP
Shares
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b),(d)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Aggregate
Amount
Outstanding
(000)(a)
Asset
Coverage
Per
$100,000
Share(b)
Asset
Coverage
Per
$1
Liquidation
Preference(e)
NAD
4/30/23(f)
$
727,500
$
260,135
$
679,000
$
260,135
$
—
$
—
$
504,300
$
260,135
$
2.60
10/31/22
727,500
240,874
679,000
240,874
—
—
504,300
240,874
2.41
10/31/21
727,500
284,419
679,000
284,419
—
—
632,000
284,419
2.84
10/31/20
545,500
279,599
679,000
279,599
—
—
632,000
279,599
2.80
10/31/19
545,500
279,954
607,000
279,954
—
—
632,000
279,954
2.80
10/31/18
—
—
607,000
263,112
545,500
263,112
632,000
263,112
2.63
NEA
4/30/23(f)
173,000
260,545
1,038,900
260,545
—
—
1,159,400
260,545
2.61
10/31/22
173,000
240,229
1,088,900
240,229
—
—
1,159,400
240,229
2.40
10/31/21
316,500
283,145
1,088,900
283,145
—
—
1,159,400
283,145
2.83
10/31/20
143,500
280,550
958,000
280,550
—
—
1,290,300
280,550
2.81
10/31/19
—
—
958,000
282,066
—
—
1,290,300
282,066
2.82
10/31/18
—
—
958,000
265,448
—
—
1,290,300
265,448
2.65
(a)
Aggregate
Amount
Outstanding:
Aggregate
amount
outstanding
represents
the
liquidation
preference
as
of
the
end
of
the
relevant
fiscal
year
and
does
not
included
any
preferred
shares
noticed
for
redemption
as
noted
on
the
Statement
of
Assets
and
Liabilities,
where
applicable.
(b)
Asset
Coverage
Per
$100,000:
Asset
coverage
per
$100,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
100,000.
(c)
Asset
Coverage
Per
$1,000:
Asset
coverage
per
$1,000
is
calculated
by
subtracting
the
Fund’s
liabilities
and
indebtedness
not
represented
by
senior
securities
from
the
Fund’s
total
assets,
dividing
the
result
by
the
aggregate
amount
of
the
Fund’s
senior
securities
representing
indebtedness
then
outstanding
(if
applicable,)
plus
the
aggregate
of
the
involuntary
liquidation
preference
of
the
outstanding
preferred
shares,
if
applicable,
and
multiplying
the
result
by
1,000.
(d)
NEA’s
Series
D
MFP
Shares
have
a
$1,000
liquidation
preference
per
share,
while
all
other
MFP
Shares
have
a
$100,000
liquidation
preference
per
share. The
asset
coverage
per
$1,000
share
for
NEA’s
Series
D
MFP
Shares
were
as
follows:
(e)
Includes
all
preferred
shares
presented
for
the
Fund.
(f)
Unaudited.
Notes
to
Financial
Statements
(Unaudited)
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
Quality
Municipal
Income
Fund
(NAD)
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(NEA)
The
Funds
are
registered
under
the
Investment
Company
Act
of
1940
(the
“1940
Act”),
as
amended,
as
diversified
closed-end
management
investment
companies.
NAD
and
NEA
were
organized
as
Massachusetts
business
trusts
on
January
15,
1999
and
July
29,
2002,
respectively.
Current
Fiscal
Period:
The
end
of
the
reporting
period
for
the
Funds
is
April
30,
2023,
and
the
period
covered
by
these
Notes
to
Financial
Statements
is
the
six
months
ended
April
30,
2023
(the
“current
fiscal
period”).
Investment
Adviser
and
Sub-Adviser:
The
Funds’
investment
adviser
is
Nuveen
Fund
Advisors,
LLC
(the
“Adviser”),
a
subsidiary
of
Nuveen,
LLC
(“Nuveen”).
Nuveen
is
the
investment
management
arm
of
Teachers
Insurance
and
Annuity
Association
of
America
(TIAA).
The
Adviser
has
overall
responsibility
for
management
of
the
Funds,
oversees
the
management
of
the
Funds’
portfolios,
manages
the
Funds’
business
affairs
and
provides
certain
clerical,
bookkeeping
and
other
administrative
services,
and,
if
necessary,
asset
allocation
decisions.
The
Adviser
has
entered
into
sub-
advisory
agreements
with
Nuveen
Asset
Management,
LLC
(the
“Sub-Adviser”),
a
subsidiary
of
the
Adviser,
under
which
the
Sub-Adviser
manages
the
investment
portfolios
of
the
Funds.
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
net
asset
value
(“NAV”)
for
financial
reporting
purposes
may
differ
from
the
NAV
for
processing
security
and
shareholder
transactions.
The
NAV
for
financial
reporting
purposes
includes
security
and
shareholder
transactions
through
the
date
of
the
report.
Total
return
is
computed
based
on
the
NAV
used
for
processing
security
and
shareholder
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:
Notes
to
Financial
Statements
(Unaudited)
(continued)
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
Pronouncement:
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
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.
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:
Fund
Gross
Custodian
Fee
Credits
NAD
$
10,663
NEA
18,981
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.
Investments
in
investment
companies
are
valued
at
their
respective
NAVs
or
share
price on
the
valuation
date
and
are
generally
classified
as
Level
1.
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
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:
The
Funds
hold
liabilities
in
floating
rate
obligations
and
preferred
shares,
where
applicable,
which
are
not
reflected
in
the
tables
above.
The
fair
values
of
the
Funds’
liabilities
for
floating
rate
obligations
approximate
their
liquidation
values.
Floating
rate
obligations
are
generally
classified
as
Level
2
and
further
described
in
Note
4
-
Portfolio
Securities
and
Investments
in
Derivatives.
The
fair
values
of
the
Funds’
liabilities
for
preferred
shares
approximate
their
liquidation
preference.
Preferred
shares
are
generally
classified
as
Level
2
and
further
described
in
Note
5
-
Fund
Shares.
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
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.
NAD
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
4,977,387,862
$
158,994*
$
4,977,546,856
Investment
Companies
421,179
–
–
421,179
Variable
Rate
Senior
Loan
Interests
–
–
31,350*
31,350
Short-Term
Investments:
Municipal
Bonds
–
16,400,000
–
16,400,000
Total
$
421,179
$
4,993,787,862
$
190,344
$
4,994,399,385
1
NEA
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
6,170,571,180
$
239,941*
$
6,170,811,121
Total
$
–
$
6,170,571,180
$
239,941
$
6,170,811,121
1
*
Refer
to
the
Fund's
Portfolio
of
Investments
for
securities
classified
as
Level
3.
Notes
to
Financial
Statements
(Unaudited)
(continued)
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.
A Fund
may
acquire
an
Inverse
Floater
in
a
transaction
where
it
(a)
transfers
an
Underlying
Bond
that
it
owns
to
a
TOB
Trust
created
by
a
third
party
or
(b)
transfers
an
Underlying
Bond
that
it
owns,
or
that
it
has
purchased
in
a
secondary
market
transaction
for
the
purpose
of
creating
an
Inverse
Floater,
to
a
TOB
Trust
created
at
its
direction,
and
in
return
receives
the
Inverse
Floater
of
the
TOB
Trust
(referred
to
as
a
“self-deposited
Inverse
Floater”).
A
Fund
may
also
purchase
an
Inverse
Floater
in
a
secondary
market
transaction
from
a
third
party
creator
of
the
TOB
Trust
without
first
owning
the
Underlying
Bond
(referred
to
as
an
“externally-deposited
Inverse
Floater”).
An
investment
in
a
self-deposited
Inverse
Floater
is
accounted
for
as
a
“financing”
transaction
(i.e.,
a
secured
borrowing).
For
a
self-deposited
Inverse
Floater,
the
Underlying
Bond
deposited
into
the
TOB
Trust
is
identified
in
the
Fund’s
Portfolio
of
Investments
as
“(UB)
–
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction,”
with
the
Fund
recognizing
as
liabilities,
labeled
“Floating
rate
obligations”
on
the
Statement
of
Assets
and
Liabilities,
(a)
the
liquidation
value
of
Floaters
issued
by
the
TOB
Trust,
and
(b)
the
amount
of
any
borrowings
by
the
TOB
Trust
from
a
Liquidity
Provider
to
enable
the
TOB
Trust
to
purchase
outstanding
Floaters
in
lieu
of
a
remarketing.
In
addition,
the
Fund
recognizes
in
“Investment
Income”
the
entire
earnings
of
the
Underlying
Bond,
and
recognizes
(a)
the
interest
paid
to
the
holders
of
the
Floaters
or
on
the
TOB
Trust’s
borrowings,
and
(b)
other
expenses
related
to
remarketing,
administration,
trustee,
liquidity
and
other
services
to
a
TOB
Trust,
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
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.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
Floaters
issued
by
each
Fund’s
TOB
Trust
for
self-deposited
Inverse
Floaters
and
externally-deposited
Inverse
Floaters
was
as
follows:
During
the
current
fiscal
period,
the
average
amount
of
Floaters
(including
any
borrowings
from
a
Liquidity
Provider)
outstanding,
and
the
average
annual
interest
rates
and
fees
related
to
self-deposited
Inverse
Floaters,
were
as
follows:
TOB
Trusts
are
supported
by
a
liquidity
facility
provided
by
a
Liquidity
Provider
pursuant
to
which
the
Liquidity
Provider
agrees,
in
the
event
that
Floaters
are
(a)
tendered
to
the
Trustee
for
remarketing
and
the
remarketing
does
not
occur,
or
(b)
subject
to
mandatory
tender
pursuant
to
the
terms
of
the
TOB
Trust
agreement,
to
either
purchase
Floaters
or
to
provide
the
Trustee
with
an
advance
from
a
loan
facility
to
fund
the
purchase
of
Floaters
by
the
TOB
Trust.
In
certain
circumstances,
the
Liquidity
Provider
may
otherwise
elect
to
have
the
Trustee
sell
the
Underlying
Bond
to
retire
the
Floaters
that
were
tendered
and
not
remarketed
prior
to
providing
such
a
loan.
In
these
circumstances,
the
Liquidity
Provider
remains
obligated
to
provide
a
loan
to
the
extent
that
the
proceeds
of
the
sale
of
the
Underlying
Bond
are
not
sufficient
to
pay
the
purchase
price
of
the
Floaters.
The
size
of
the
commitment
under
the
loan
facility
for
a
given
TOB
Trust
is
at
least
equal
to
the
balance
of
that
TOB
Trust’s
outstanding
Floaters
plus
any
accrued
interest.
In
consideration
of
the
loan
facility,
fee
schedules
are
in
place
and
are
charged
by
the
Liquidity
Provider(s).
Any
loans
made
by
the
Liquidity
Provider
will
be
secured
by
the
purchased
Floaters
held
by
the
TOB
Trust.
Interest
paid
on
any
outstanding
loan
balances
will
be
effectively
borne
by
the
Fund
that
owns
the
Inverse
Floaters
of
the
TOB
Trust
that
has
incurred
the
borrowing
and
may
be
at
a
rate
that
is
greater
than
the
rate
that
would
have
been
paid
had
the
Floaters
been
successfully
remarketed.
Fund
Floating
Rate
Obligations:
Self-
Deposited
Inverse
Floaters
Floating
Rate
Obligations:
Externally-Deposited
Inverse
Floaters
Total
NAD
$
90,020,000
$
27,695,000
$
117,715,000
NEA
89,875,000
61,240,000
151,115,000
Fund
Average
Floating
Rate
Obligations
Outstanding
Average
Annual
Interest
Rate
And
Fees
NAD
$
94,818,740
3.41
%
NEA
105,903,822
3.16
As
described
above,
any
amounts
outstanding
under
a
liquidity
facility
are
recognized
as
a
component
of
“Floating
rate
obligations”
on
the
Statement
of
Assets
and
Liabilities
by
the
Fund
holding
the
corresponding
Inverse
Floaters
issued
by
the
borrowing
TOB
Trust.
As
of
the
end
of
the
reporting
period,
there
were
no
loans
outstanding
under
any such
facility.
Each
Fund
may
also
enter
into
shortfall
and
forbearance
agreements
(sometimes
referred
to
as
a
“recourse
arrangement”)
(TOB
Trusts
involving
such
agreements
are
referred
to
herein
as
“Recourse
Trusts”),
under
which
a
Fund
agrees
to
reimburse
the
Liquidity
Provider
for
the
Trust’s
Floaters,
in
certain
circumstances,
for
the
amount
(if
any)
by
which
the
liquidation
value
of
the
Underlying
Bond
held
by
the
TOB
Trust
may
fall
short
of
the
sum
of
the
liquidation
value
of
the
Floaters
issued
by
the
TOB
Trust
plus
any
amounts
borrowed
by
the
TOB
Trust
from
the
Liquidity
Provider,
plus
any
shortfalls
in
interest
cash
flows.
Under
these
agreements,
a
Fund’s
potential
exposure
to
losses
related
to
or
on
an
Inverse
Floater
may
increase
beyond
the
value
of
the
Inverse
Floater
as
a
Fund
may
potentially
be
liable
to
fulfill
all
amounts
owed
to
holders
of
the
Floaters
or
the
Liquidity
Provider.
Any
such
shortfall
amount
in
the
aggregate
is
recognized
as
“Unrealized
depreciation
on
Recourse
Trusts”
on
the
Statement
of
Assets
and
Liabilities.
As
of
the
end
of
the
reporting
period, each
Fund's
maximum
exposure
to
the
Floaters
issued
by
Recourse
Trusts
for
self-deposited
Inverse
Floaters
and
externally-deposited
Inverse
Floaters
was
as
follows:
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.
Purchases
and
sales:
Long-term
purchases
and
sales
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
Fund
Maximum
Exposure
to
Recourse
Trusts:
Self-Deposited
Inverse
Floaters
Maximum
Exposure
to
Recourse
Trusts:
Externally-Deposited
Inverse
Floaters
Total
NAD
$
77,455,000
$
22,070,000
$
99,525,000
NEA
89,875,000
61,240,000
151,115,000
Fund
Purchases
Sales
and
Maturities
NAD
$
535,608,036
$
568,411,409
NEA
505,144,355
595,390,164
Notes
to
Financial
Statements
(Unaudited)
(continued)
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.
5.
Fund
Shares
Common Share
Transactions:
The
Funds
did
not
have
any
transactions
in
common
shares
during
the
Funds'
current
and
prior
fiscal
period.
Preferred
Shares
Adjustable
Rate
MuniFund
Term
Preferred
Shares:
The
Funds
have
issued
and
have
outstanding
Adjustable
Rate
MuniFund
Term
Preferred
(“AMTP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
AMTP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NAD
and
NEA
had
$727,239,131
and
$172,919,222
of
AMTP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
each
Fund’s
AMTP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows,
were
as
follows:
\
Each
Fund
is
obligated
to
redeem
its
AMTP
Shares
by
the
date
as
specified
in
its
offering
document
(“Term
Redemption
Date”),
unless
earlier
redeemed
by
the
Fund.
AMTP
Shares
are
subject
to
optional
and
mandatory
redemption
in
certain
circumstances.
The
AMTP
Shares
may
be
redeemed
at
the
option
of
the
Fund,
subject
to
payment
of
premium
for
approximately
six
months
following
the
date
of
issuance
(“Premium
Expiration
Date”),
and
at
the
redemption
price
per
share
thereafter.
The
redemption
price
per
share
is
equal
to
the
sum
of
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
AMTP
Shares
are
short-term
or
short/intermediate-term
instruments
that
pay
a
variable
dividend
rate
tied
to
a
short-term
index,
plus
an
additional
fixed
“spread”
amount
which
is
initially
established
at
the
time
of
issuance
and
may
be
adjusted
in
the
future
based
upon
a
mutual
agreement
between
the
majority
owner
and
the
Fund.
From
time-to-time
the
majority
owner
may
propose
to
the
Fund
an
adjustment
to
the
dividend
rate.
Should
the
majority
owner
and
the
Fund
fails
to
agree
upon
an
adjusted
dividend
rate,
and
such
proposed
dividend
rate
adjustment
is
not
withdrawn,
the
Fund
will
be
required
to
redeem
all
outstanding
shares
upon
the
end
of
a
notice
period.
In
addition,
the
Fund
may
be
obligated
to
redeem
a
certain
amount
of
the
AMTP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
and
leverage
ratio
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
Term
Redemption
Date
and
Premium
Expiration
Date
for
the
Fund’s
AMTP
Shares
are
as
follows:
The
average
liquidation
preference
of
AMTP
Shares
outstanding
and
annualized
dividend
rate
for
the
Fund
during
the
current
fiscal
period
were
as
follows:
Fund
Series
Shares
Outstanding
Liquidation
Preference
NAD
2028
3,370
$337,000,000
2028-1
2,085
$208,500,000
2028-2
1,820
$182,000,000
NEA
2028-1
1,730
$173,000,000
Fund
Notice
Period
Series
Term
Redemption
Date
Premium
Expiration
Date
NAD
360-day
2028
December
1,
2028*
November
30,
2019
360-day
2028-1
December
1,
2028*
November
30,
2019
360-day
2028-2
December
1,
2028*
November
30,
2019
NEA
360-day
2028-1
December
1,
2028*
December
13,
2019
*
Subject
to
early
termination
by
either
the
Fund
or
the
holder.
Fund
Average
Liquidation
Preference
of
AMTP
Shares
Outstanding
Annualized
Dividend
Rate
NAD
$
727,500,000
3.73
%
NEA
173,000,000
3.74
AMTP
Shares
are
subject
to
restrictions
on
transfer,
generally
do
not
trade,
and
market
quotations
are
generally
not
available.
The
fair
value
of
AMTP
Shares
is
expected
to
be
approximately
their
liquidation
preference
so
long
as
the
fixed
“spread”
on
the
AMTP
Shares
remains
roughly
in
line
with
the
“spread”
being
demanded
by
investors
on
instruments
having
similar
terms
in
the
current
market
environment.
In
present
market
conditions,
the
Funds’
Adviser
has
determined
that
the
fair
value
of
AMTP
Shares
is
approximately
their
liquidation
preference,
but
their
fair
value
could
vary
if
market
conditions
change
materially.
For
financial
reporting
purposes,
the
liquidation
preference
of
AMTP
Shares
is
a
liability
and
is
recognized
as
a
component
of
“AMTP
Shares,
net”
on
the
Statement
of
Assets
and
Liabilities.
AMTP
Share
dividends
are
treated
as
interest
payments
for
financial
reporting
purposes.
Unpaid
dividends
on
AMTP
Shares
are
recognized
as
a
component
of
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
accrued
on
AMTP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Costs
incurred
in
connection
with
the
Fund’s
offering
of
AMTP
Shares
were
recorded
as
deferred
charges,
which
are
amortized
over
the
life
of
the
shares
and
are
recognized
as
components
of
“AMTP
Shares,
net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
MuniFund
Preferred
Shares:
The
Funds
have
issued
and
have
outstanding
MuniFund
Preferred
(“MFP”)
Shares,
with
a
$100,000
($1,000
for
NEA’s
Series
D)
liquidation
preference
per
share.
These
MFP
Shares
were
issued
via
private
placement
and
are
not
publically
available.
The
Funds
are
obligated
to
redeem
their
MFP
Shares
by
the
date
as
specified
in
its
offering
documents
(“Term
Redemption
Date”),
unless
earlier
redeemed
by
the
Funds.
MFP
Shares
are
initially
issued
in
a
pre-specified
mode,
however,
MFP
Shares
can
be
subsequently
designated
as
an
alternative
mode
at
a
later
date
at
the
discretion
of
the
Funds.
The
modes
within
MFP
Shares
detail
the
dividend
mechanics
and
are
described
as
follows.
At
a
subsequent
date,
the
Funds
may
establish
additional
mode
structures
with
the
MFP
Share.
•
Variable
Rate
Remarketed
Mode
(“VRRM”)
–
Dividends
for
MFP
Shares
within
this
mode
will
be
established
by
a
remarketing
agent;
therefore,
market
value
of
the
MFP
Shares
is
expected
to
approximate
its
liquidation
preference.
Shareholders
have
the
ability
to
request
a
best-efforts
tender
of
its
shares
upon
seven
days
notice.
If
the
remarketing
agent
is
unable
to
identify
an
alternative
purchaser,
the
shares
will
be
retained
by
the
shareholder
requesting
tender
and
the
subsequent
dividend
rate
will
increase
to
its
step-up
dividend
rate.
If
after
one
consecutive
year
of
unsuccessful
remarketing
attempts,
the
Fund
will
be
required
to
designate
an
alternative
mode
or
redeem
the
shares.
Each
Fund
will
pay
a
remarketing
fee
on
the
aggregate
principal
amount
of
all
MFP
Shares
while
designated
in
VRRM.
Payments
made
by
the
Fund
to
the
remarketing
agent
are
recognized
as
“Remarketing
fees”
on
the
Statement
of
Operations.
•
Variable
Rate
Mode
(“VRM”)
–
Dividends
for
MFP
Shares
designated
in
this
mode
are
based
upon
a
short-term
index
plus
an
additional
fixed
“spread”
amount
established
at
the
time
of
issuance
or
renewal
/
conversion
of
its
mode.
At
the
end
of
the
period
of
the
mode,
the
Fund
will
be
required
to
either
extend
the
term
of
the
mode,
designate
an
alternative
mode
or
redeem
the
MFP
Shares.
The
fair
value
of
MFP
Shares
while
in
VRM
are
expected
to
approximate
their
liquidation
preference
so
long
as
the
fixed
“spread”
on
the
shares
remains
roughly
in
line
with
the
“spread”
being
demanded
by
investors
on
instruments
having
similar
terms
in
the
current
market.
In
current
market
conditions,
the
Adviser
has
determined
that
the
fair
value
of
the
shares
are
approximately
their
liquidation
preference,
but
their
fair
value
could
vary
if
market
conditions
change
materially.
•
Variable
Rate
Demand
Mode
(“VRDM”)
–
Dividends
for
MFP
Shares
designated
in
this
mode
will
be
established
by
a
remarketing
agent;
therefore,
the
market
value
of
the
MFP
Shares
is
expected
to
approximate
its
liquidation
preference.
While
in
this
mode,
Shares
will
have
an
unconditional
liquidity
feature
that
enable
its
shareholders
to
require
a
liquidity
provider,
which
the
Fund
has
entered
into
a
contractual
agreement,
to
purchase
shares
in
the
event
that
the
shares
are
not
able
to
be
successfully
remarketed.
In
the
event
that
shares
within
this
mode
are
unable
to
be
successfully
remarketed
and
are
purchased
by
the
liquidity
provider,
the
dividend
rate
will
be
the
maximum
rate
which
is
designed
to
escalate
according
to
a
specified
schedule
in
order
to
enhance
the
remarketing
agent’s
ability
to
successfully
remarket
the
shares.
Each
Fund
is
required
redeem
any
shares
that
are
still
owned
by
a
liquidity
provider
after
six
months
of
continuous,
unsuccessful
remarketing.
The
Fund
will
pay
a
liquidity
and
remarketing
fee
on
the
aggregate
principal
amount
of
all
MFP
shares
while
within
VRDM.
Payments
made
by
the
Fund
to
the
liquidity
provider
and
remarketing
agent
are
recognized
as
“Liquidity
fees”
and
“Remarketing
fees”,
respectively,
on
the
Statement
Operations.
For
financial
reporting
purposes,
the
liquidation
preference
of
MFP
Shares
is
recorded
as
a
liability
and
is
recognized
as
a
component
of
“MFP
Shares,
net”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
on
the
MFP
shares
are
treated
as
interest
payments
for
financial
reporting
purposes.
Unpaid
dividends
on
MFP
shares
are
recognized
as
a
component
on
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities.
Dividends
accrued
on
MFP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Subject
to
certain
conditions,
MFP
Shares
may
be
redeemed,
in
whole
or
in
part,
at
any
time
at
the
option
of
the
Fund.
The
Fund
may
also
be
required
to
redeem
certain
MFP
shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
redemption
price
per
share
in
all
circumstances
is
equal
to
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
Costs
incurred
in
connection
with
each
Fund's
offering
of
MFP
Shares
were
recorded
as
a
deferred
charge
and
are
being
amortized
over
the
life
of
the
shares
and
are
recognized
as
a
component
of
MFP
Shares,
Net
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Notes
to
Financial
Statements
(Unaudited)
(continued)
As
of
the
end
of
the
reporting
period,
NAD
and
NEA
had
$678,499,765
and
$1,036,831,144
of
MFP
Shares
at
liquidation
preference,
net
of
deferred
available
offering
costs,
respectively.
Further
details
of
each
Fund’s
MFP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows.
*
Subject
to
earlier
termination
by
either
the
Fund
or
the
holder.
The
average
liquidation
preference
of
MFP
Shares
outstanding
and
annualized
dividend
rate
for
each
Fund
during
the
current
fiscal
period
were
as
follows:
Variable
Rate
Demand
Preferred
Shares:
The
following
Funds
have
issued
and
have
outstanding
Variable
Rate
Demand
Preferred
(“VRDP”)
Shares,
with
a
$100,000
liquidation
preference
per
share.
VRDP
Shares
are
issued
via
private
placement
and
are
not
publicly
available.
As
of
the
end
of
the
reporting
period,
NAD
and
NEA
had
$503,473,283
and
$1,154,496,882
of
VRDP
Shares
at
liquidation
preference,
net
of
deferred
offering
costs,
respectively.
Further
details
of
the
Funds’
VRDP
Shares
outstanding
as
of
the
end
of
the
reporting
period,
were
as
follows:
VRDP
Shares
include
a
liquidity
feature
that
allows
VRDP
shareholders
to
have
their
shares
purchased
by
a
liquidity
provider
with
whom
each
Fund
has
contracted
in
the
event
that
the
VRDP
Shares
are
not
able
to
be
successfully
remarketed.
Each
Fund
is
required
to
redeem
any
VRDP
Shares
that
are
still
owned
by
the
liquidity
provider
after
six
months
of
continuous,
unsuccessful
remarketing.
Each
Fund
pays
an
annual
remarketing
fee
on
the
aggregate
principal
amount
of
all
VRDP
Shares
outstanding.
Each
Fund’s
VRDP
Shares
have
successfully
remarketed
since
issuance.
Dividends
on
the
VRDP
Shares
(which
are
treated
as
interest
payments
for
financial
reporting
purposes)
are
set
at
a
rate
established
by
a
remarketing
agent;
therefore,
the
market
value
of
the
VRDP
Shares
is
expected
to
approximate
its
liquidation
preference.
In
the
event
that
VRDP
Shares
are
unable
to
be
successfully
remarketed,
the
dividend
rate
will
be
the
maximum
rate
which
is
designed
to
escalate
according
to
a
specified
schedule
in
order
to
enhance
the
remarketing
agent’s
ability
to
successfully
remarket
the
VRDP
Shares.
Subject
to
certain
conditions,
VRDP
Shares
may
be
redeemed,
in
whole
or
in
part,
at
any
time
at
the
option
of
each
Fund.
Each
Fund
may
also
redeem
certain
of
the
VRDP
Shares
if
the
Fund
fails
to
maintain
certain
asset
coverage
requirements
and
such
failures
are
not
cured
by
the
applicable
cure
date.
The
redemption
price
per
share
is
equal
to
the
sum
of
the
liquidation
preference
per
share
plus
any
accumulated
but
unpaid
dividends.
The
average
liquidation
preference
of
VRDP
Shares
outstanding
and
annualized
dividend
rate
for
each
Fund
during
the
current
fiscal
period
were
as
follows:
Fund
Series
Shares
Outstanding
Liquidation
Preference
Term
Redemption
Date
Mode
Mode
Termination
Date
NAD
A
6,070
$607,000,000
January
3,
2028
VRM
January
3,
2028
B
720
$72,000,000
September
1,
2047
VRM
April
1,
2024
NEA
A
1,350
$135,000,000
February
3,
2048
VRM
February
3,
2048
B
3,350
$335,000,000
March
2,
2028
VRM
March
2,
2028
C
2,380
$238,000,000
March
2,
2028
VRDM
March
2,
2028
D
3,309
$330,900,000
March
1,
2029
VRRM
N/A
Fund
Average
Liquidation
Preference
of
MFP
Shares
Outstanding
Annualized
Dividend
Rate
NAD
$
679,000,000
3.88
%
NEA
1,044,424,862
3.47
Fund
Series
Shares
Outstanding
Remarketing
Fees*
Liquidation
Preference
Maturity
NAD
1
2,368
0.10%
$236,800,000
September
11,
2026
2
2,675
0.10%
$267,500,000
September
11,
2026
NEA
1
2,190
0.10%
$219,000,000
June
1,
2040
3
3,509
0.05%
$350,900,000
March
1,
2040
4
4,895
0.10%
$489,500,000
September
11,
2026
5
1,000
0.10%
$100,000,000
October
1,
2046
*
Remarketing
fees
as
a
percentage
of
the
aggregate
principal
amount
of
all
VRDP
Shares
outstanding
for
each
series.
For
financial
reporting
purposes,
the
liquidation
preference
of
VRDP
Shares
is
a
liability
and
is
recognized
as
a
component
of
“VRDP
Shares,
net”
on
the
Statement
of
Assets
and
Liabilities.
Unpaid
dividends
on
VRDP
Shares
are
recognized
as
a
component
of
“Payable
for
interest”
on
the
Statement
of
Assets
and
Liabilities,
when
applicable.
Dividends
accrued
on
VRDP
Shares
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Costs
incurred
by
the
Funds
in
connection
with
their
offerings
of
VRDP
Shares
were
recorded
as
a
deferred
charge,
which
are
amortized
over
the
life
of
the
shares
and
are
recognized
as
a
component
of
“VRDP
Shares,
Net”
on
the
Statement
of
Assets
and
Liabilities
and
“Interest
expense
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
In
addition
to
interest
expense,
each
Fund
may
also
pay
a
per
annum
liquidity
fee
to
the
liquidity
provider,
as
well
as
a
remarketing
fee,
which
are
recognized
as
“Liquidity
fees”
and
“Remarketing
fees,”
respectively,
on
the
Statement
of
Operations.
Preferred
Share
Transactions:
Transactions
in
preferred
shares
during
the
Funds'
current
and
prior
fiscal
period,
where
applicable,
are
noted
in
the
following
tables.
Transactions
in
AMTP
Shares
for
the
Funds,
where
applicable,
were
as
follows:
Transactions
in
MFP
Shares
for
the
Funds,
where
applicable,
were
as
follows:
Transactions
in
VRDP
Shares
for
the
Funds,
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,
and
in
the
case
of
NEA
the
AMT
applicable
to
individuals
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.
Fund
Average
Liquidation
Preference
of
VRDP
Shares
Outstanding
Annualized
Dividend
Rate
NAD
$
504,300,000
2.93
%
NEA
1,159,400,000
2.88
Year
Ended
October
31,
2022
NEA
Series
Shares
Amount
AMTP
Shares
noticed
for
redemption
2028
(1,435)
$(143,500,000)
Six
Months
Ended
April
30,
2023
NEA
Series
Shares
Amount
MFP
Shares
redeemed
A
(500)
$(50,000,000)
Year
Ended
October
31,
2022
NAD
Series
Shares
Amount
VRDP
Shares
noticed
for
redemption
3
(1,277)
$(127,700,000)
Notes
to
Financial
Statements
(Unaudited)
(continued)
As
of
the
end
of
the
reporting
period,
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
prior
fiscal
period
end,
the
components
of
accumulated
earnings
on
a
tax
basis
were
as
follows:
As
of
prior
fiscal
period
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
schedule:
Fund
Tax
Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net
Unrealized
Appreciation
(Depreciation)
NAD
$
4,862,272,738
$
132,625,130
$
(90,517,903)
$
42,107,227
NEA
6,014,735,938
180,496,425
(114,295,984)
66,200,441
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
NAD
$
7,195,352
$
432,033
$
—
$
(282,869,690)
$
(190,612,987)
$
—
$
(10,853,317)
$
(476,708,609)
NEA
2,020,539
288,505
—
(345,890,315)
(223,163,726)
—
(13,307,164)
(580,052,161)
1
Undistributed
tax-exempt
income
(on
a
tax
basis)
has
not
been
reduced
for
the
dividend
on
October
3,
2022
and
paid
on
November
1,
2022.
Fund
Short-Term
Long-Term
Total
NAD
1
$
122,521,396
$
68,091,591
$
190,612,987
NEA
1
132,915,237
90,248,489
223,163,726
1
A
portion
of
NAD's
and
NEA's
capital
loss
carryforwards
is
subject
to
limitation
under
the
Internal
Revenue
Code
and
related
regulations.
Average
Daily
Managed
Assets*
Fund-Level
Fee
Rate
For
the
first
$125
million
0.4500
%
For
the
next
$125
million
0.4375
For
the
next
$250
million
0.4250
For
the
next
$500
million
0.4125
For
the
next
$1
billion
0.4000
For
the
next
$3
billion
0.3750
For
managed
assets
over
$5
billion
0.3675
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
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
April
30,
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.
Commitments
and
Contingencies
In
the
normal
course
of
business,
each
Fund
enters
into
a
variety
of
agreements
that
may
expose
the
Fund
to
some
risk
of
loss.
These
could
include
recourse
arrangements
for
certain
TOB
Trusts
and
certain
agreements
related
to
preferred
shares,
which
are
described
elsewhere
in
these
Notes
to
Financial
Statements.
The
risk
of
future
loss
arising
from
such
agreements,
while
not
quantifiable,
is
expected
to
be
remote.
As
of
the
end
of
the
reporting
period,
the
Funds
did
not
have
any
unfunded
commitments.
From
time
to
time,
the
Funds
may
be
party
to
certain
legal
proceedings
in
the
ordinary
course
of
business,
including
proceedings
relating
to
the
enforcement
of
the
Funds’
rights
under
contracts.
As
of
the
end
of
the
reporting
period,
management
has
determined
that
any
legal
proceeding(s)
the
Funds
are
subject
to,
including
those
described
within
this
report,
are
unlikely
to
have
a
material
impact
to
any
of
the
Funds’
financial
statements.
9.
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
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
Fund
Complex-Level
Fee
NAD
0.1592%
NEA
0.1592%
Fund
Purchases
Sales
Realized
Gain
(Loss)
NAD
$
59,362,908
$
48,385,127
$
(4,856,191)
NEA
47,462,308
50,964,500
(4,592,854)
Notes
to
Financial
Statements
(Unaudited)
(continued)
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
and
amortization
of
offering
costs”
on
the
Statement
of
Operations.
Participating
Funds
paid
administration,
legal
and
arrangement
fees,
which
are
recognized
as
a
component
of
“Interest
expense
and
amortization
of
offering
costs”
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
Funds
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:
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.
Fund
Maximum
Outstanding
Balance
NAD
$
22,128,276
NEA
19,934,204
Fund
Utilization
Period
(Days
Outstanding)
Average
Daily
Balance
Outstanding
Average
Annual
Interest
Rate
NAD
15
$
8,297,142
5.26
%
NEA
29
10,644,550
5.20
10.
Subsequent
Events
Committed
Line
of
Credit
:
During
June
2023,
the
Participating
Funds
renewed
the
standby
credit
facility
through
June
2024. All
other
terms
remain
unchanged.
Risk
Considerations
(Unaudited)
Risk
Considerations
Fund
shares
are
not
guaranteed
or
endorsed
by
any
bank
or
other
insured
depository
institution,
and
are
not
federally
insured
by
the
Federal
Deposit
Insurance
Corporation.
Nuveen
Quality
Municipal
Income
Fund
(NAD)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Leverage
increases
return
volatility
and
magnifies
the
Fund's
potential
return
and
its
risks;
there
is
no
guarantee
a
fund's
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
risk
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NAD.
Nuveen
AMT-Free
Quality
Municipal
Income
Fund
(NEA)
Investing
in
closed-end
funds
involves
risk;
principal
loss
is
possible.
There
is
no
guarantee
the
Fund’s
investment
objectives
will
be
achieved.
Closed-end
fund
shares
may
frequently
trade
at
a
discount
or
premium
to
their
net
asset
value.
Debt
or
fixed
income
securities
such
as
those
held
by
the
Fund,
are
subject
to
market
risk,
credit
risk,
interest
rate
risk,
derivatives
risk,
liquidity
risk,
and
income
risk.
As
interest
rates
rise,
bond
prices
fall.
Leverage
increases
return
volatility
and
magnifies
the
Fund's
potential
return
and
its
risks;
there
is
no
guarantee
a
fund's
leverage
strategy
will
be
successful.
These
and
other
risk
considerations
such
as
inverse
floater
and
tax
risk
are
described
in
more
detail
on
the
Fund’s
web
page
at
www.nuveen.com/NEA.
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
Congres
s
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
NAD
NEA
Common
shares
repurchased
0
0
Glossary
of
Terms
Used
in
this
Report
(Unaudited)
Average
Annual
Total
Return
:
This
is
a
commonly
used
method
to
express
an
investment’s
performance
over
a
particular,
usually
multi-year
time
period.
It
expresses
the
return
that
would
have
been
necessary
each
year
to
equal
the
investment’s
actual
cumulative
performance
(including
change
in
NAV
or
offer
price
and
reinvested
dividends
and
capital
gains
distributions,
if
any)
over
the
time
period
being
considered.
Duration:
Duration
is
a
measure
of
the
expected
period
over
which
a
bond’s
principal
and
interest
will
be
paid,
and
consequently
is
a
measure
of
the
sensitivity
of
a
bond’s
or
bond
fund’s
value
to
changes
when
market
interest
rates
change.
Generally,
the
longer
a
bond’s
or
fund’s
duration,
the
more
the
price
of
the
bond
or
fund
will
change
as
interest
rates
change.
Effective
Leverage:
Effective
leverage
is
a
fund’s
effective
economic
leverage,
and
includes
both
regulatory
leverage
(see
leverage)
and
the
leverage
effects
of
certain
derivative
investments
in
the
fund’s
portfolio.
Currently,
the
leverage
effects
of
Tender
Option
Bond
(TOB)
inverse
floater
holdings
are
included
in
effective
leverage
values,
in
addition
to
any
regulatory
leverage.
Inverse
Floating
Rate
Securities:
Inverse
floating
rate
securities
are
the
residual
interest
in
a
tender
option
bond
(TOB)
trust,
sometimes
referred
to
as
“inverse
floaters”,
are
created
by
depositing
a
municipal
bond,
typically
with
a
fixed
interest
rate,
into
a
special
purpose
trust.
This
trust,
in
turn,
(a)
issues
floating
rate
certificates
typically
paying
short-term
tax-exempt
interest
rates
to
third
parties
in
amounts
equal
to
some
fraction
of
the
deposited
bond’s
par
amount
or
market
value,
and
(b)
issues
an
inverse
floating
rate
certificate
(sometimes
referred
to
as
an
“inverse
floater”)
to
an
investor
(such
as
a
fund)
interested
in
gaining
investment
exposure
to
a
long-term
municipal
bond.
The
income
received
by
the
holder
of
the
inverse
floater
varies
inversely
with
the
short-
term
rate
paid
to
the
floating
rate
certificates’
holders,
and
in
most
circumstances
the
holder
of
the
inverse
floater
bears
substantially
all
of
the
underlying
bond’s
downside
investment
risk.
The
holder
of
the
inverse
floater
typically
also
benefits
disproportionately
from
any
potential
appreciation
of
the
underlying
bond’s
value.
Hence,
an
inverse
floater
essentially
represents
an
investment
in
the
underlying
bond
on
a
leveraged
basis.
Leverage:
Leverage
is
created
whenever
a
fund
has
investment
exposure
(both
reward
and/or
risk)
equivalent
to
more
than
100%
of
the
investment
capital.
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.
Regulatory
Leverage
:
Regulatory
leverage
consists
of
preferred
shares
issued
by
or
borrowings
of
a
fund.
Both
of
these
are
part
of
a
fund’s
capital
structure.
Regulatory
leverage
is
subject
to
asset
coverage
limits
set
in
the
Investment
Company
Act
of
1940.
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
.
Total
Investment
Exposure:
Total
investment
exposure
is
a
fund’s
assets
managed
by
the
Adviser
that
are
attributable
to
financial
leverage.
For
these
purposes,
financial
leverage
includes
a
fund’s
use
of
preferred
stock
and
borrowings
and
investments
in
the
residual
interest
certificates
(also
called
inverse
floating
rate
securities)
in
tender
option
bond
(TOB)
trusts,
including
the
portion
of
assets
held
by
a
TOB
trust
that
has
been
effectively
financed
by
the
trust’s
issuance
of
floating
rate
securities.
Zero
Coupon
Bond:
A
zero
coupon
bond
does
not
pay
a
regular
interest
coupon
to
its
holders
during
the
life
of
the
bond.
Income
to
the
holder
of
the
bond
comes
from
accretion
of
the
difference
between
the
original
purchase
price
of
the
bond
at
issuance
and
the
par
value
of
the
bond
at
maturity
and
is
effectively
paid
at
maturity.
The
market
prices
of
zero
coupon
bonds
generally
are
more
volatile
than
the
market
prices
of
bonds
that
pay
interest
periodically.
Nuveen
Securities,
LLC,
member
FINRA
and
SIPC
333
West
Wacker
Drive
Chicago,
IL
60606
www.nuveen.com
ESA-B-0423P
2913706-INV-B-06/24
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
Not applicable to this filing.
| ITEM 3. |
AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable to this filing.
| ITEM 4. |
PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable to this filing.
| ITEM 5. |
AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable to this filing.
| ITEM 6. |
SCHEDULE OF INVESTMENTS. |
| (a) |
|
See Portfolio of Investments in Item 1. |
| ITEM 7. |
DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to this filing.
| ITEM 8. |
PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
|
Not applicable to this filing.
| 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.
File the exhibits listed below as part of this Form.
(a)(1)
Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required
by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See Ex-99.CERT attached
hereto.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.
(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: See Ex-99.906 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen AMT-Free Quality
Municipal Income Fund
|
|
|
| By (Signature and Title) |
|
/s/ Mark L. Winget |
|
|
Mark L. Winget |
|
|
Vice President and Secretary |
Date: July 6, 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: July 6, 2023
|
|
|
| By (Signature and Title) |
|
/s/ E. Scott Wickerham |
|
|
E. Scott Wickerham |
|
|
Vice President and Funds Controller |
|
|
(principal financial officer) |
Date: July 6, 2023