NPORT-EX 2 NUV.htm
NUV
Nuveen Municipal Value Fund, Inc.
Portfolio of Investments    January 31, 2022
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 100.0%        
    MUNICIPAL BONDS – 100.0%        
    Alabama – 0.2%        
    Birmingham Airport Authority, Alabama, Airport Revenue Bonds, Series 2020:        
$255   4.000%, 7/01/39 –  BAM Insured   7/30 at 100.00 AA $290,164
225   4.000%, 7/01/40 –  BAM Insured   7/30 at 100.00 AA 255,229
3,805   Homewood, Alabama, General Obligation Warrants, Series 2016, 5.000%, 9/01/36 (Pre-refunded 9/01/26)   9/26 at 100.00 AA+ (4) 4,403,032
4,285   Total Alabama       4,948,425
    Alaska – 0.1%        
    Anchorage, Alaska, General Obligation Bonds, School Series 2021C:        
1,500   4.000%, 9/01/40   9/31 at 100.00 N/R 1,750,530
1,000   4.000%, 9/01/41   9/31 at 100.00 N/R 1,165,180
110   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+ 121,340
2,610   Total Alaska       3,037,050
    Arizona – 1.3%        
7,525   Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, 5.000%, 6/01/49 (Mandatory Put 6/03/24) (AMT)   6/24 at 100.00 A+ 8,160,261
2,935   Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/35   7/27 at 100.00 Aa3 3,469,493
780   Phoenix Civic Improvement Corporation, Arizona, Excise Tax Revenue Bonds, Subordinate Lien Series 2020A, 4.000%, 7/01/45   7/30 at 100.00 AAA 890,713
2,590   Phoenix Civic Improvement Corporation, Arizona, Water System Revenue Bonds, Junior Lien Series 2021A, 5.000%, 7/01/45   7/31 at 100.00 AAA 3,234,314
2,175   Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Medical Center, Series 2021A, 4.000%, 4/01/46   4/31 at 100.00 A 2,459,903
5,600   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37   No Opt. Call A3 7,394,912
    Tucson, Arizona, Water System Revenue Bonds, Refunding Series 2017:        
1,000   5.000%, 7/01/34   7/27 at 100.00 AA 1,170,880
750   5.000%, 7/01/35   7/27 at 100.00 AA 876,045
23,355   Total Arizona       27,656,521
    California – 6.8%        
4,615   Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/23 –  AGM Insured   No Opt. Call AA 4,538,206
5,000   Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38 (Pre-refunded 4/01/23)   4/23 at 100.00 A1 (4) 5,249,350
1

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$405   California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49   6/30 at 100.00 BBB+ $450,741
1,250   California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2020A, 4.000%, 6/01/49   12/30 at 100.00 BBB+ 1,398,763
    California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B:        
4,080   5.000%, 11/15/46 (Pre-refunded 11/15/26)   11/26 at 100.00 N/R (4) 4,760,789
5,920   5.000%, 11/15/46   11/26 at 100.00 A1 6,797,285
1,200   California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A, 5.000%, 8/15/37   8/27 at 100.00 BBB+ 1,398,708
3,850   California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/33 (Pre-refunded 7/01/23)   7/23 at 100.00 AA- (4) 4,075,687
6,130   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- 7,053,178
2,725   California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authoriity Desalination Project Pipeline, Refunding Series 2019, 5.000%, 11/21/45, 144A   1/29 at 100.00 BBB 3,153,152
1,625   California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2013I, 5.000%, 11/01/38   11/23 at 100.00 Aa3 1,734,980
3,500   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.000%, 12/01/46, 144A   6/26 at 100.00 BB 3,942,855
4,505   Covina-Valley Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2003B, 0.000%, 6/01/28 –  FGIC Insured   No Opt. Call A+ 3,991,610
5,700   East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water System Revenue Bonds, Green Series 2017A, 5.000%, 6/01/45   6/27 at 100.00 AAA 6,690,774
2,180   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 0.000%, 1/15/42 (5)   1/31 at 100.00 A- 2,708,192
49,020   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 7,832,416
2,550   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, 5.000%, 6/01/47 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R (4) 2,588,479
    Merced Union High School District, Merced County, California, General Obligation Bonds, Series 1999A:        
2,500   0.000%, 8/01/23 –  FGIC Insured   No Opt. Call AA- 2,460,450
2,555   0.000%, 8/01/24 –  FGIC Insured   No Opt. Call AA- 2,469,586
2,365   Montebello Unified School District, Los Angeles County, California, General Obligation Bonds, Election 1998 Series 2004, 0.000%, 8/01/27 –  FGIC Insured   No Opt. Call A- 2,125,449
    Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A:        
3,060   0.000%, 8/01/28 (5)   2/28 at 100.00 Aa1 3,509,973
2,315   0.000%, 8/01/43 (5)   8/35 at 100.00 Aa1 2,534,138
3,550   M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.500%, 11/01/39   No Opt. Call A 5,360,358
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$80   Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 7.000%, 8/01/38 –  AGC Insured   8/29 at 100.00 AA $108,546
10,150   Placer Union High School District, Placer County, California, General Obligation Bonds, Series 2004C, 0.000%, 8/01/33 –  AGM Insured   No Opt. Call AA 7,825,853
    San Bruno Park School District, San Mateo County, California, General Obligation Bonds, Series 2000B:        
2,575   0.000%, 8/01/24 –  FGIC Insured   No Opt. Call Aa2 2,483,382
2,660   0.000%, 8/01/25 –  FGIC Insured   No Opt. Call Aa2 2,513,620
355   San Diego Tobacco Settlement Revenue Funding Corporation, California, Tobacco Settlement Bonds, Subordinate Series 2018C, 4.000%, 6/01/32   6/28 at 100.00 BBB 381,678
10,000   San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019D, 5.000%, 5/01/39   5/29 at 100.00 A1 12,023,800
    San Joaquin Hills Transportation Corridor Agency, Orange County, California, Refunding Senior Lien Toll Road Revenue Bonds, Series 2021A:        
315   4.000%, 1/15/39   1/32 at 100.00 N/R 359,207
525   4.000%, 1/15/41   1/32 at 100.00 N/R 595,560
550   4.000%, 1/15/43   1/32 at 100.00 N/R 626,599
200   4.000%, 1/15/44   1/32 at 100.00 N/R 227,610
12,095   San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/25 –  NPFG Insured   No Opt. Call Baa2 11,586,889
13,220   San Mateo County Community College District, California, General Obligation Bonds, Series 2006A, 0.000%, 9/01/28 –  NPFG Insured   No Opt. Call AAA 11,878,302
5,000   San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/24 –  FGIC Insured   No Opt. Call Aaa 4,857,250
5,815   San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/48   8/25 at 29.16 AA 1,558,769
755   Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Refunding Sacramento County Tobacco Securitization Corporation Series 2021B Class 2, 4.000%, 6/01/49   12/30 at 100.00 BBB- 826,038
575   Vernon, California, Electric System Revenue Bonds, Series 2021A, 5.000%, 4/01/28   No Opt. Call N/R 682,416
185,470   Total California       145,360,638
    Colorado – 7.5%        
7,500   Arapahoe County School District 6, Littleton, Colorado, General Obligation Bonds, Series 2019A, 5.500%, 12/01/43   12/28 at 100.00 Aa1 9,414,525
7,105   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45 (Pre-refunded 1/01/23)   1/23 at 100.00 BBB+ (4) 7,398,650
4,155   Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-1, 4.000%, 8/01/44   8/29 at 100.00 BBB+ 4,540,044
1,255   Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017, 5.000%, 12/31/51   12/24 at 100.00 BBB 1,391,029
7,070   Colorado Mountain College, Colorado, Certificates of Participation, Series 2021, 4.000%, 12/01/46   12/31 at 100.00 Aa3 8,029,399
4,500   Colorado State, Building Excellent Schools Today, Certificates of Participation, Series 2018N, 5.000%, 3/15/37   3/28 at 100.00 Aa2 5,359,500
3

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Colorado State, Certificates of Participation, Higher Education Lease Purchase Financing Program, Series 2020:        
$900   4.000%, 9/01/38   9/31 at 100.00 Aa2 $1,048,896
4,475   4.000%, 9/01/40   9/31 at 100.00 Aa2 5,192,879
2,750   4.000%, 9/01/41   9/31 at 100.00 Aa2 3,186,122
    Colorado State, Certificates of Participation, Lease Purchase Financing Program, National Western Center, Series 2018A:        
1,250   5.000%, 9/01/30   3/28 at 100.00 Aa2 1,497,425
2,000   5.000%, 9/01/31   3/28 at 100.00 Aa2 2,389,960
1,260   5.000%, 9/01/32   3/28 at 100.00 Aa2 1,504,138
620   5.000%, 9/01/33   3/28 at 100.00 Aa2 739,877
3,790   Colorado State, Certificates of Participation, Rural Series 2018A, 5.000%, 12/15/37   12/28 at 100.00 Aa2 4,597,573
5,000   Colorado State, Certificates of Participation, Rural Series 2021A, 4.000%, 12/15/38   12/31 at 100.00 Aa2 5,806,100
    Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B:        
2,750   5.000%, 11/15/25   11/22 at 100.00 AA- 2,840,970
2,200   5.000%, 11/15/29 (Pre-refunded 11/15/22)   11/22 at 100.00 AA- (4) 2,276,076
5,160   Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43   11/23 at 100.00 A+ 5,466,452
2,000   Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016, 5.000%, 12/01/35   12/26 at 100.00 Baa2 2,249,200
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:        
9,660   0.000%, 9/01/29 –  NPFG Insured   No Opt. Call A 8,257,465
24,200   0.000%, 9/01/31 –  NPFG Insured   No Opt. Call A 19,494,552
17,000   0.000%, 9/01/32 –  NPFG Insured   No Opt. Call A 13,306,240
1,705   E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2020A, 5.000%, 9/01/40   9/24 at 100.00 A 1,860,206
7,600   E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Refunding Series 2006B, 0.000%, 9/01/39 –  NPFG Insured   9/26 at 52.09 A 3,563,412
8,000   Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.500%, 11/15/38   No Opt. Call AA- 11,738,080
1,400   Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A, 4.000%, 7/15/34   1/31 at 100.00 A- 1,606,416
12,500   Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Refunding Green Series 2021B, 4.000%, 11/01/40   5/31 at 100.00 AA+ 14,464,750
4,945   Regional Transportation District, Colorado, Sales Tax Revenue Bonds, Fastracks Project, Series 2017A, 5.000%, 11/01/40   11/26 at 100.00 AA+ 5,719,239
4,250   University of Colorado, Enterprise System Revenue Bonds, Series 2018B, 5.000%, 6/01/43 (Pre-refunded 6/01/28)   6/28 at 100.00 Aa1 (4) 5,173,610
157,000   Total Colorado       160,112,785
    Connecticut – 0.7%        
8,440   Connecticut State, General Obligation Bonds, Series 2015E, 5.000%, 8/01/29   8/25 at 100.00 Aa3 9,502,680
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Connecticut (continued)        
$5,000   Connecticut State, General Obligation Bonds, Series 2015F, 5.000%, 11/15/33   11/25 at 100.00 Aa3 $5,644,600
13,440   Total Connecticut       15,147,280
    Delaware – 0.1%        
1,270   Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2021, 4.000%, 1/01/46   1/32 at 100.00 N/R 1,461,757
    District of Columbia – 2.4%        
15,000   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46   3/22 at 22.44 N/R 3,347,700
5,390   District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Senior Lien Series 2018B, 5.000%, 10/01/43   4/28 at 100.00 AAA 6,438,032
3,865   Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Refunding & Subordinate Lien Series 2019B, 5.000%, 10/01/47   10/29 at 100.00 A- 4,577,783
14,110   Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53   4/22 at 100.00 A- 14,217,095
10,000   Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 6.500%, 10/01/44   10/28 at 100.00 A- 12,887,900
    Washington Convention and Sports Authority, Washington D.C., Dedicated Tax Revenue Bonds, Refunding Senior Lien Series 2021A:        
670   4.000%, 10/01/36   10/30 at 100.00 AA 772,369
1,000   4.000%, 10/01/37   10/30 at 100.00 AA 1,150,620
1,300   4.000%, 10/01/40   10/30 at 100.00 AA 1,487,057
1,745   Washington Convention and Sports Authority, Washington D.C., Dedicated Tax Revenue Bonds, Refunding Senior Lien Series 2021B, 4.000%, 10/01/38   10/30 at 100.00 AA 2,003,993
1,805   Washington Metropolitan Area Transit Authority, District of Columbia, Dedicated Revenue Bonds, Green Series 2021A, 5.000%, 7/15/41   7/31 at 100.00 AA 2,276,628
2,390   Washington Metropolitan Area Transit Authority, District of Columbia, Dedicated Revenue Bonds, Series 2020A, 4.000%, 7/15/45   7/30 at 100.00 AA 2,730,695
57,275   Total District of Columbia       51,889,872
    Florida – 4.8%        
1,240   Broward County, Florida, Half-Cent Sales Tax Revenue Bonds, Refunding Series 2020, 4.000%, 10/01/40   10/30 at 100.00 AA+ 1,441,810
    Broward County, Florida, Tourist Development Tax Revenue Bonds, Convention Center Expansion Project, Series 2021:        
10,000   4.000%, 9/01/47   9/31 at 100.00 N/R 11,311,400
5,000   4.000%, 9/01/51   9/31 at 100.00 N/R 5,633,900
1,355   Central Florida Expressway Authority, Revenue Bonds, Senior Lien Series 2021D, 5.000%, 7/01/31   No Opt. Call A+ 1,740,619
565   Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A, 6.000%, 6/15/35, 144A   6/25 at 100.00 N/R 631,060
5

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$2,500   Florida Development Finance Corporation, Healthcare Facilities Revenue Bonds, UF Health - Jacksonville Project, Series 2022A, 4.000%, 2/01/46 –  AGM Insured   2/32 at 100.00 N/R $2,785,675
4,000   Gainesville, Florida, Utilities System Revenue Bonds, Series 2017A, 5.000%, 10/01/37   10/27 at 100.00 Aa3 4,724,440
3,500   Gainesville, Florida, Utilities System Revenue Bonds, Series 2019A, 5.000%, 10/01/44   10/29 at 100.00 Aa3 4,281,515
2,290   Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Lien Series 2015B, 5.000%, 10/01/40   10/24 at 100.00 A1 2,502,558
    Lakeland, Florida, Energy System Revenue Bonds, Series 2021:        
1,300   4.000%, 10/01/39   10/31 at 100.00 N/R 1,535,443
1,000   4.000%, 10/01/40   10/31 at 100.00 N/R 1,176,950
2,735   Miami Beach Health Facilities Authority, Florida, Hospital Revenue Bonds, Mount Sinai Medical Center of Florida Project, Series 2021B, 4.000%, 11/15/46   11/31 at 100.00 A- 3,029,259
5,090   Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2010A, 5.000%, 7/01/40   3/22 at 100.00 A 5,119,115
2,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2014B, 5.000%, 10/01/37   10/24 at 100.00 A2 2,170,860
4,000   Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/42 (Pre-refunded 7/01/22)   7/22 at 100.00 AA (4) 4,075,800
    Orlando Utilities Commission, Florida, Utility System Revenue Bonds, Series 2018A:        
3,500   5.000%, 10/01/36   10/27 at 100.00 AA 4,125,590
3,780   5.000%, 10/01/37   10/27 at 100.00 AA 4,451,139
1,120   5.000%, 10/01/38   10/27 at 100.00 AA 1,317,534
10,725   Orlando, Florida, Contract Tourist Development Tax Payments Revenue Bonds, Series 2014A, 5.000%, 11/01/44 (Pre-refunded 5/01/24)   5/24 at 100.00 Aa2 (4) 11,661,400
    Osceola County, Florida, Transportation Revenue Bonds, Osceola Parkway, Refunding & Improvement Capital Appreciation Series 2019A-2:        
3,000   0.000%, 10/01/46   10/29 at 54.89 BBB+ 1,285,170
4,860   0.000%, 10/01/47   10/29 at 52.89 BBB+ 2,003,827
1,700   0.000%, 10/01/48   10/29 at 50.96 BBB+ 674,101
3,250   0.000%, 10/01/49   10/29 at 49.08 BBB+ 1,240,622
2,500   0.000%, 10/01/50   10/29 at 47.17 BBB+ 915,800
3,000   0.000%, 10/01/51   10/29 at 45.32 BBB+ 1,054,260
3,000   0.000%, 10/01/52   10/29 at 43.62 BBB+ 1,013,280
3,000   0.000%, 10/01/53   10/29 at 41.97 BBB+ 974,340
2,500   0.000%, 10/01/54   10/29 at 40.38 BBB+ 780,600
3,250   Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical Center, Series 2013A, 5.000%, 11/01/43   11/22 at 100.00 BBB+ 3,313,375
4,000   Pembroke Pines, Florida, Capital Improvement Revenue Bonds, Series 2019A, 4.000%, 7/01/38   7/29 at 100.00 AA 4,511,640
1,020   Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperatice, Inc. Project, Refunding Series 2018B, 5.000%, 3/15/42   5/28 at 100.00 A- 1,188,647
6,865   South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 4.000%, 5/01/34   5/25 at 100.00 AA 7,348,296
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$3,300   Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33   5/22 at 100.00 Aa2 $3,340,656
110,945   Total Florida       103,360,681
    Georgia – 2.6%        
3,325   Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2015, 5.000%, 11/01/40   5/25 at 100.00 Aa2 3,718,348
4,945   Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Fourth Series 1994, 2.250%, 10/01/32 (Mandatory Put 5/25/23)   No Opt. Call A- 5,028,125
2,290   Fulton County Development Authority, Georgia, Hospital Revenue Bonds, Wellstar Health System, Inc Project, Series 2017A, 5.000%, 4/01/47   4/27 at 100.00 A 2,646,095
6,000   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 6,995,580
1,500   Geo. L. Smith II Georgia World Congress Center Authority, Georgia, Convention Center Hotel Revenue Bonds, First Tier Series 2021A, 4.000%, 1/01/54   1/31 at 100.00 BBB- 1,631,070
5,865   Municipal Electric Authority of Georgia, General Resolution Projects Subordinated Bonds, Series 20188HH, 5.000%, 1/01/44   1/28 at 100.00 A1 6,895,305
16,145   Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2019A, 5.000%, 1/01/49   7/28 at 100.00 A 19,039,960
4,025   Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project M Bonds, Series 2021A, 5.000%, 1/01/62 –  AGM Insured   1/30 at 100.00 AA 4,765,197
2,415   Municipal Electric Authority of Georgia, Project One Revenue Bonds, Subordinate Lien Series 2015A, 5.000%, 1/01/35   1/25 at 100.00 A2 2,662,417
2,000   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Refunding Series 2016A, 5.000%, 10/01/46   10/26 at 100.00 AA 2,304,580
48,510   Total Georgia       55,686,677
    Guam – 0.0%        
    Guam A.B. Won Pat International Airport Authority, Revenue Bonds, Series 2013C:        
170   6.375%, 10/01/43 (Pre-refunded 10/01/23) (AMT)   10/23 at 100.00 Baa2 (4) 184,768
160   6.375%, 10/01/43 (AMT)   10/23 at 100.00 Baa2 170,992
330   Total Guam       355,760
    Hawaii – 0.4%        
4,830   Honolulu City and County, Hawaii, General Obligation Bonds, Series 2018A, 5.000%, 9/01/40   9/28 at 100.00 Aa1 5,818,604
3,000   Honolulu City and County, Hawaii, Wastewater System Revenue Bonds, First Bond Resolution, Senior Series 2018A, 5.000%, 7/01/37   1/28 at 100.00 Aa2 3,564,000
7,830   Total Hawaii       9,382,604
    Idaho – 0.1%        
    University of Idaho, General Revenue Bonds, Refunding Series 2021A:        
505   5.000%, 4/01/39 –  AGM Insured   4/31 at 100.00 AA 632,427
545   5.000%, 4/01/41 –  AGM Insured   4/31 at 100.00 AA 680,307
7

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Idaho (continued)        
$1,550   University of Idaho, General Revenue Bonds, Refunding Series 2022A, 4.000%, 4/01/45 –  BAM Insured (WI/DD, Settling 2/24/22)   4/32 at 100.00 N/R $1,783,771
2,600   Total Idaho       3,096,505
    Illinois – 11.3%        
5,000   Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46   4/27 at 100.00 A- 5,834,300
5,000   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44   12/25 at 100.00 BB 5,858,700
2,945   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46   12/26 at 100.00 BB 3,499,897
4,710   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A   12/27 at 100.00 BB 5,844,168
17,775   Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/24 –  FGIC Insured   No Opt. Call Baa2 16,936,553
7,495   Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 0.000%, 12/01/31 –  NPFG Insured   No Opt. Call Baa2 5,843,027
1,930   Chicago Greater Metropolitan Water Reclamation District, Illinois, General Obligation Bonds, Limited Tax Capital Improvement Green Series 2021A, 4.000%, 12/01/46   12/31 at 100.00 N/R 2,230,231
2,425   Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2021, 5.000%, 6/01/28   No Opt. Call A 2,912,934
1,000   Cook County, Illinois, General Obligation Bonds, Refunding Series 2018, 5.000%, 11/15/35   11/26 at 100.00 A+ 1,146,700
1,680   Cook County, Illinois, General Obligation Bonds, Refunding Series 2021A, 5.000%, 11/15/33   11/30 at 100.00 A+ 2,064,989
5,000   Cook County, Illinois, Sales Tax Revenue Bonds, Series 2012, 5.000%, 11/15/37   11/22 at 100.00 AA- 5,164,200
2,040   Cook County, Illinois, Sales Tax Revenue Bonds, Series 2021A, 4.000%, 11/15/40   11/30 at 100.00 AA- 2,304,180
5,000   Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A, 5.000%, 11/15/38   5/25 at 100.00 AA- 5,504,200
    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 623,784
825   5.000%, 8/15/44   8/25 at 100.00 A3 916,270
5,125   Illinois State, General Obligation Bonds, November Series 2017C, 5.000%, 11/01/29   11/27 at 100.00 BBB 5,889,906
1,755   Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/27   No Opt. Call BBB 2,011,967
655   Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/25   8/22 at 100.00 BBB 668,067
5,590   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38   1/23 at 100.00 AA- 5,800,519
4,000   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2016B, 5.000%, 1/01/41   7/26 at 100.00 AA- 4,546,440
6,005   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2020A, 5.000%, 1/01/45   1/31 at 100.00 AA- 7,339,071
4,200   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2021A, 4.000%, 1/01/46   1/32 at 100.00 N/R 4,754,484
8

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$2,875   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2020A, 4.000%, 6/15/50   12/29 at 100.00 BBB+ $3,055,981
6,140   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2022A, 4.000%, 6/15/52 (WI/DD, Settling 3/17/22)   12/31 at 100.00 BBB+ 6,552,854
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B:        
5,245   0.000%, 6/15/28 –  NPFG Insured   No Opt. Call BBB+ 4,521,452
11,675   0.000%, 6/15/29 –  FGIC Insured   No Opt. Call BBB+ 9,774,310
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:        
2,315   5.700%, 6/15/24 (Pre-refunded 6/15/22)   6/22 at 101.00 N/R (4) 2,381,811
7,685   5.700%, 6/15/24   6/22 at 101.00 BBB+ 7,906,789
4,950   0.000%, 12/15/32 –  NPFG Insured   No Opt. Call BBB+ 3,709,926
21,375   0.000%, 6/15/34 –  NPFG Insured   No Opt. Call BBB+ 15,309,630
21,000   0.000%, 12/15/35 –  NPFG Insured   No Opt. Call BBB+ 14,314,860
21,970   0.000%, 6/15/36 –  NPFG Insured   No Opt. Call BBB+ 14,733,522
10,375   0.000%, 12/15/36 –  NPFG Insured   No Opt. Call BBB+ 6,833,494
10,000   0.000%, 12/15/37 –  NPFG Insured   No Opt. Call BBB+ 6,372,100
25,825   0.000%, 6/15/39 –  NPFG Insured   No Opt. Call BBB+ 15,539,677
6,095   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2002A, 6.000%, 7/01/32 –  NPFG Insured   No Opt. Call AA+ 8,398,910
8,000   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2003A, 6.000%, 7/01/33 –  NPFG Insured   No Opt. Call AA+ 10,723,520
5,000   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2014A, 5.000%, 6/01/44 (Pre-refunded 6/01/24)   6/24 at 100.00 AA+ (4) 5,451,300
5,020   Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/23 –  AGM Insured   No Opt. Call AA 4,880,494
615   University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42   10/23 at 100.00 A- 660,861
    Will County Community Unit School District 201-U Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2004:        
780   0.000%, 11/01/22 –  NPFG Insured (ETM)   No Opt. Call Baa2 (4) 775,289
160   0.000%, 11/01/22 –  NPFG Insured (ETM)   No Opt. Call N/R (4) 159,152
2,390   0.000%, 11/01/22 –  NPFG Insured   No Opt. Call A 2,372,553
270,205   Total Illinois       242,123,072
    Indiana – 1.8%        
5,010   Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42 (Pre-refunded 5/01/23)   5/23 at 100.00 A (4) 5,272,023
9

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Indiana (continued)        
$2,250   Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Refunding 2015A, 4.000%, 12/01/40   6/25 at 100.00 AA $2,425,342
5,740   Indiana Finance Authority, Provate Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A, 5.000%, 7/01/48 (Pre-refunded 7/01/23) (AMT)   7/23 at 100.00 A- (4) 6,063,105
2,000   Indiana Municipal Power Agency Power Supply System Revenue Bonds, Refunding Series 2016A, 5.000%, 1/01/42   7/26 at 100.00 A+ 2,293,380
5,000   Indianapolis Local Public Improvement Bond Bank, Indiana, Community Justice Campus Bonds, Courthouse & Jail Project, Series 2019A, 5.250%, 2/01/54   2/29 at 100.00 AAA 5,955,000
    Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E:        
2,400   0.000%, 2/01/25 –  AMBAC Insured   No Opt. Call AA 2,303,520
14,595   0.000%, 2/01/27 –  AMBAC Insured   No Opt. Call AA 13,441,849
36,995   Total Indiana       37,754,219
    Kentucky – 1.8%        
200   Greater Kentucky Housing Assistance Corporation, FHA-Insured Section 8 Mortgage Revenue Refunding Bonds, Series 1997A, 6.100%, 1/01/24 –  NPFG Insured   2/22 at 100.00 Baa2 200,808
    Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Series 2016:        
1,530   5.000%, 1/01/27   1/26 at 100.00 A1 1,741,094
1,600   5.000%, 1/01/28   1/26 at 100.00 A1 1,820,416
    Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A:        
1,280   5.000%, 9/01/37   9/28 at 100.00 A2 1,533,095
1,435   5.000%, 9/01/38   9/28 at 100.00 A2 1,712,285
4,000   5.000%, 9/01/43   9/28 at 100.00 A2 4,718,280
2,000   5.000%, 9/01/48   9/28 at 100.00 A2 2,333,360
1,000   Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A, 4.000%, 12/01/41 –  AGM Insured   12/27 at 100.00 AA 1,122,150
8,935   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 BBB+ 9,824,479
6,000   Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Series 2013C, 0.000%, 7/01/39 (5)   7/31 at 100.00 Baa2 7,289,880
5,000   Kentucky State Property and Buildings Commission, Revenue Bonds, Project 115, Series 2017, 5.000%, 4/01/30   4/27 at 100.00 A1 5,836,600
32,980   Total Kentucky       38,132,447
    Louisiana – 0.9%        
1,335   East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2019A, 4.000%, 2/01/45   2/29 at 100.00 AA- 1,500,473
4,420   Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 5.000%, 7/01/28   7/23 at 100.00 A2 4,668,139
9,040   New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017A, 5.000%, 1/01/48   1/27 at 100.00 A2 10,445,268
10

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Louisiana (continued)        
$1,470   New Orleans Aviation Board, Louisiana, Special Facility Revenue Bonds, Parking Facilities Corporation Consolidated Garage System, Series 2018A, 5.000%, 10/01/43 –  AGM Insured   10/28 at 100.00 AA $1,763,397
16,265   Total Louisiana       18,377,277
    Maine – 1.0%        
800   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 BBB (4) 846,784
    Maine Health and Higher Educational Facilities Authority Revenue Bonds, MaineHealth Issue, Series 2018A:        
1,190   5.000%, 7/01/43   7/28 at 100.00 A+ 1,403,319
5,940   5.000%, 7/01/48   7/28 at 100.00 A+ 6,960,908
10,000   Maine Turnpike Authority, Turnpike Revenue Bonds, Series 2020, 5.000%, 7/01/50   7/30 at 100.00 AA- 12,229,800
17,930   Total Maine       21,440,811
    Maryland – 1.2%        
    Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017:        
630   5.000%, 9/01/31   9/27 at 100.00 CCC 660,902
1,945   5.000%, 9/01/32   9/27 at 100.00 CCC 2,040,480
3,455   5.000%, 9/01/34   9/27 at 100.00 CCC 3,624,157
2,000   5.000%, 9/01/35   9/27 at 100.00 CCC 2,097,180
4,500   5.000%, 9/01/42   9/27 at 100.00 CCC 4,705,470
3,500   5.000%, 9/01/46   9/27 at 100.00 CCC 3,646,930
1,050   Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015, 5.000%, 7/01/40   7/25 at 100.00 A- 1,159,683
    Maryland Stadium Authority, Revenue Bonds, Baltimore City Public Schools Construction & Revitalization Program, Series 2018A:        
2,260   5.000%, 5/01/47 (Pre-refunded 5/01/28)   5/28 at 100.00 N/R (4) 2,731,029
4,375   5.000%, 5/01/47   5/28 at 100.00 AA 5,168,712
23,715   Total Maryland       25,834,543
    Massachusetts – 1.0%        
1,000   Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2019A, 5.000%, 1/01/37   1/29 at 100.00 A+ 1,210,760
2,100   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 A (4) 2,259,978
2,905   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 3,227,716
1,105   Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E, 5.000%, 7/01/36   7/26 at 100.00 BBB 1,254,341
2,765   Massachusetts Development Finance Agency, Revenue Bonds, Dana-Farber Cancer Institute Issue, Series 2016N, 5.000%, 12/01/46   12/26 at 100.00 A1 3,155,916
9,110   Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43 (Pre-refunded 5/15/23)   5/23 at 100.00 AAA 9,607,315
11

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Massachusetts (continued)        
$980   Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A, 0.000%, 1/01/29 –  NPFG Insured   No Opt. Call A+ $855,040
210   Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2000-6, 5.500%, 8/01/30   3/22 at 100.00 Aaa 210,941
20,175   Total Massachusetts       21,782,007
    Michigan – 2.3%        
    Detroit Academy of Arts and Sciences, Michigan, Public School Academy Revenue Bonds, Refunding Series 2013:        
1,600   6.000%, 10/01/33   10/23 at 100.00 N/R 1,634,336
2,520   6.000%, 10/01/43   10/23 at 100.00 N/R 2,564,780
1,415   Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39 (Pre-refunded 7/01/22)   7/22 at 100.00 AA- (4) 1,443,286
15   Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 4.500%, 7/01/35 –  NPFG Insured   3/22 at 100.00 A+ 15,056
3,000   Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 7/01/29 –  NPFG Insured   No Opt. Call A+ 3,517,230
5   Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien Series 2003B, 5.000%, 7/01/34 –  NPFG Insured   3/22 at 100.00 A+ 5,021
5   Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2003A, 5.000%, 7/01/34 –  NPFG Insured   3/22 at 100.00 A1 5,021
3,315   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 3,940,342
2,360   Michigan Finance Authority, Distributable State Aid Revenue Bonds, Charter County of Wayne, Second Lien Refunding Series 2020, 4.000%, 11/01/37   11/30 at 100.00 AA 2,708,407
1,950   Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Series 2014C-1, 5.000%, 7/01/44 (Pre-refunded 7/01/22)   7/22 at 100.00 N/R (4) 1,986,953
5,000   Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2015MI, 5.000%, 12/01/35 (Pre-refunded 6/01/22)   6/22 at 100.00 AA- (4) 5,076,300
2,750   Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Series 2020B-1-CL2, 5.000%, 6/01/49   12/30 at 100.00 BBB- 3,187,662
6,000   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 AA+ 6,594,600
    Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I:        
435   5.000%, 4/15/30 (Pre-refunded 10/15/25)   10/25 at 100.00 N/R (4) 494,478
9,565   5.000%, 4/15/30   10/25 at 100.00 Aa2 10,815,528
1,800   Northern Michigan University, General Revenue Bonds, Series 2021, 4.000%, 6/01/46   6/31 at 100.00 N/R 2,025,180
2,890   Oakland University, Michigan, General Revenue Bonds, Series 2012, 5.000%, 3/01/42   3/22 at 100.00 A1 2,900,317
1,100   Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D, 5.000%, 12/01/45   12/25 at 100.00 A1 1,235,377
45,725   Total Michigan       50,149,874
12

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Minnesota – 0.3%        
$3,200   Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Refunding Series 2016B, 5.000%, 11/15/34   No Opt. Call AA $4,401,728
1,480   University of Minnesota, General Obligation Bonds, Series 2016A, 5.000%, 4/01/41   4/26 at 100.00 Aa1 1,678,734
4,680   Total Minnesota       6,080,462
    Missouri – 0.2%        
3,465   Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/48   11/23 at 100.00 A2 3,680,280
    Montana – 0.6%        
1,115   Billings, Montana, Sewer System Revenue Bonds, Series 2017, 5.000%, 7/01/33   7/27 at 100.00 AA+ 1,306,156
    Montana Facility Finance Authority, Healthcare Facility Revenue Bonds, Kalispell Regional Medical Center, Series 2018B:        
1,340   5.000%, 7/01/30   7/28 at 100.00 BBB 1,556,008
1,415   5.000%, 7/01/31   7/28 at 100.00 BBB 1,638,527
1,980   5.000%, 7/01/32   7/28 at 100.00 BBB 2,289,692
2,135   5.000%, 7/01/33   7/28 at 100.00 BBB 2,468,039
3,045   Montana Facility Finance Authority, Revenue Bonds, Billings Clinic Obligated Group, Series 2018A, 5.000%, 8/15/48   8/28 at 100.00 AA- 3,606,254
11,030   Total Montana       12,864,676
    Nebraska – 0.4%        
    Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Refunding Crossover Series 2017A:        
1,710   5.000%, 9/01/37   No Opt. Call A 2,235,551
1,500   5.000%, 9/01/42   No Opt. Call A 2,023,080
1,855   Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/42   9/22 at 100.00 A2 1,901,208
1,400   Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45   11/25 at 100.00 A 1,557,248
6,465   Total Nebraska       7,717,087
    Nevada – 2.8%        
490   Clark County School District, Nevada, General Obligation Bonds, Limited Tax Building Series 2020A, 4.000%, 6/15/40 –  AGM Insured   6/30 at 100.00 AA 560,335
    Clark County, Nevada, General Obligation Bonds, Transportation Improvement, Limited Tax, Additionally Secured by Pledged Revenue Series 2018B:        
2,000   5.000%, 12/01/33   12/28 at 100.00 AA+ 2,431,560
5,000   5.000%, 12/01/35   12/28 at 100.00 AA+ 6,062,650
5,000   Humboldt County, Nevada, Pollution Control Revenue Bonds, Sierra Pacific Power Company Projects, Series 2016B, 1.850%, 10/01/29 (Mandatory Put 4/15/22)   No Opt. Call A+ 5,012,950
5,000   Las Vegas Convention and Visitors Authority, Nevada, Convention Center Expansion Revenue Bonds, Series 2018B, 5.000%, 7/01/43   7/28 at 100.00 Aa3 5,866,700
8,500   Las Vegas Convention and Visitors Authority, Nevada, Revenue Bonds, Series 2018C, 5.250%, 7/01/43   7/28 at 100.00 Aa3 10,100,295
13

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Nevada (continued)        
    Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015:        
$5,220   5.000%, 6/01/33   12/24 at 100.00 Aa1 $5,755,833
10,000   5.000%, 6/01/34   12/24 at 100.00 Aa1 11,014,700
9,000   5.000%, 6/01/39   12/24 at 100.00 Aa1 9,857,880
1,205   Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Water Improvement Series 2016A, 5.000%, 6/01/41   6/26 at 100.00 Aa1 1,378,869
2,000   Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding Bonds, ReTrac-Reno Transporation Rail Access Corridor Project, Series 2018A, 5.000%, 6/01/48   12/28 at 100.00 A3 2,257,220
250   Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding Bonds, ReTrac-Reno Transporation Rail Access Corridor Project, Series 2018B, 5.000%, 6/01/33 –  AGM Insured   12/28 at 100.00 AA 291,683
53,665   Total Nevada       60,590,675
    New Jersey – 4.9%        
2,500   Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2018A, 5.000%, 1/01/36   1/29 at 100.00 A+ 3,028,200
930   New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.125%, 1/01/39 –  AGM Insured (AMT)   1/24 at 100.00 AA 996,904
6,000   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 Baa1 (4) 7,150,560
5,990   New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1, 5.500%, 9/01/25 –  AGM Insured   No Opt. Call AA 6,862,743
4,000   New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2013NN, 5.000%, 3/01/26   3/23 at 100.00 Baa1 4,165,000
3,300   New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37   3/22 at 100.00 BB+ 3,310,758
9,420   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/31   No Opt. Call Baa1 7,292,681
4,600   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Forward Delivery Series 2022A, 4.000%, 6/15/46   12/31 at 100.00 N/R 5,010,642
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C:        
30,000   0.000%, 12/15/30 –  FGIC Insured   No Opt. Call Baa1 24,277,200
27,000   0.000%, 12/15/32 –  AGM Insured   No Opt. Call AA 20,898,270
4,500   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013AA, 5.000%, 6/15/29   6/23 at 100.00 Baa1 4,730,040
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:        
2,750   5.250%, 6/15/32   6/25 at 100.00 Baa1 3,094,025
2,150   5.250%, 6/15/34   6/25 at 100.00 Baa1 2,417,439
2,000   New Jersey Turnpike Authority, Revenue Bonds, Series 2017B, 5.000%, 1/01/40   1/28 at 100.00 A+ 2,361,300
3,760   New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series 2021A, 4.000%, 1/01/42   1/31 at 100.00 A+ 4,312,833
1,135   Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43 (Pre-refunded 5/01/23)   5/23 at 100.00 Aa3 (4) 1,195,098
14

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New Jersey (continued)        
$1,455   South Jersey Transportation Authority, New Jersey, Transportation System Revenue Bonds, Series 2020A, 5.000%, 11/01/41 –  BAM Insured   11/30 at 100.00 AA $1,777,704
2,720   Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46   6/28 at 100.00 BB+ 3,029,754
114,210   Total New Jersey       105,911,151
    New York – 7.1%        
3,750   Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2017A, 5.000%, 7/01/42   7/27 at 100.00 Aa3 4,340,287
5,330   Dormitory Authority of the State of New York, Revenue Bonds, NYU Langone Hospitals Obligated Group, Series 2020A, 4.000%, 7/01/53   7/30 at 100.00 A 5,894,287
    Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2021A:        
1,200   5.000%, 10/01/32 –  AGM Insured   10/29 at 100.00 AA 1,487,352
1,125   5.000%, 10/01/33 –  AGM Insured   10/29 at 100.00 AA 1,392,908
2,055   Long Island Power Authority, New York, Electric System General Revenue Bonds, Notes Series 2021, 1.000%, 9/01/25   9/23 at 100.00 A 2,013,900
1,950   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2018, 5.000%, 9/01/39   9/28 at 100.00 A 2,369,874
1,500   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2020A, 5.000%, 9/01/38   9/30 at 100.00 A 1,873,845
2,300   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2021, 4.000%, 9/01/41   9/31 at 100.00 A 2,675,590
8,325   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2020C-1, 5.000%, 11/15/50   5/30 at 100.00 A3 9,684,056
2,500   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Climate Certified Series 2020E, 4.000%, 11/15/45   11/30 at 100.00 A3 2,696,375
    MTA Hudson Rail Yards Trust Obligations, New York, MTA Financing Agreement Payable by the Metropolitan Transportation Authority, Series 2016A:        
3,135   5.000%, 11/15/51   2/22 at 100.00 A3 3,142,649
7,380   5.000%, 11/15/56   11/23 at 100.00 A3 7,762,136
    New York City Industrial Development Agency, New York, PILOT Payment in Lieu of Taxes Revenue Bonds, Queens Baseball Stadium Project, Refunding Series 2021A:        
1,750   5.000%, 1/01/30 –  AGM Insured   No Opt. Call AA 2,142,088
1,250   5.000%, 1/01/31 –  AGM Insured   No Opt. Call AA 1,553,238
10,000   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018, Series 2017S-3, 5.000%, 7/15/43   7/28 at 100.00 AA 11,983,500
7,000   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2019 Subseries S-3A, 5.000%, 7/15/37   7/28 at 100.00 AA 8,453,550
3,520   New York City, New York, General Obligation Bonds, Fiscal 2021 Series C, 5.000%, 8/01/43   8/30 at 100.00 AA 4,278,666
5,000   New York City, New York, General Obligation Bonds, Fiscal 2021 Series F-1, 5.000%, 3/01/44   3/31 at 100.00 AA 6,100,550
11,755   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 12,642,620
15

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New York (continued)        
$3,180   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   2/30 at 100.00 N/R $3,523,567
5,000   New York State Power Authority, General Revenue Bonds, Series 2020A, 4.000%, 11/15/50   5/30 at 100.00 AA 5,603,600
8,270   New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (AMT)   7/24 at 100.00 BBB 8,837,735
    New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018:        
3,250   5.000%, 1/01/34 (AMT)   1/28 at 100.00 Baa3 3,754,888
5,250   5.000%, 1/01/36 (AMT)   1/28 at 100.00 Baa3 6,053,775
4,500   Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2, 4.000%, 6/01/50   6/31 at 100.00 BBB+ 4,952,205
7,550   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2017C-2, 5.000%, 11/15/42   11/27 at 100.00 AA- 8,944,485
4,000   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2018D, 4.000%, 11/15/38   11/30 at 100.00 AA- 4,584,040
3,000   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- 3,305,550
7,175   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+ 8,851,582
650   TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B, 5.000%, 6/01/24   No Opt. Call B- 667,888
132,650   Total New York       151,566,786
    North Carolina – 1.1%        
1,520   North Carolina Capital Facilities Finance Agency, Revenue Bonds, Duke University Project, Refunding Series 2016B, 5.000%, 10/01/44   10/26 at 100.00 AA+ 1,743,379
    North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015:        
2,155   5.000%, 12/31/37 (AMT)   6/25 at 100.00 BBB- 2,334,468
4,175   5.000%, 6/30/54 (AMT)   6/25 at 100.00 BBB- 4,474,348
2,995   North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A, 5.000%, 7/01/51   7/26 at 100.00 BBB 3,314,806
    North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Capital Appreciation Series 2019:        
2,000   0.000%, 1/01/41   1/30 at 71.45 AA+ 1,155,800
1,500   0.000%, 1/01/42   1/30 at 68.97 AA+ 834,990
14,500   0.000%, 1/01/49   1/30 at 54.10 AA+ 6,257,185
    North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Senior Lien Series 2017:        
1,625   5.000%, 1/01/30   1/27 at 100.00 BBB 1,865,744
1,850   5.000%, 1/01/32   1/27 at 100.00 BBB 2,112,959
32,320   Total North Carolina       24,093,679
16

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    North Dakota – 0.1%        
$1,840   Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/42   12/27 at 100.00 Baa2 $2,127,371
    Ohio – 3.7%        
4,710   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+ 5,087,177
20,390   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 22,427,777
16,415   Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien Series 2007A-3, 6.250%, 6/01/37 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R (4) 16,732,138
1,195   Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children's Hospital Project, Refunding & Improvement Series 2017A, 5.000%, 11/01/32   11/27 at 100.00 Aa2 1,420,377
3,485   Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Series 2017OH, 4.000%, 12/01/46   6/27 at 100.00 AA- 3,821,616
5,000   Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose Series 2018, 5.000%, 6/01/43   6/28 at 100.00 AAA 5,987,150
14,500   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009D, 3.375%, 8/01/29   No Opt. Call N/R 14,221,745
4,110   Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC - Borrower, Portsmouth Bypass Project, Series 2015, 5.000%, 12/31/39 –  AGM Insured (AMT)   6/25 at 100.00 AA 4,495,107
4,975   Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and Infrastructutre Commission Infrastructure Projects, Junior Lien, Current Interest Series 2013A-1, 5.000%, 2/15/48 (Pre-refunded 2/15/23)   2/23 at 100.00 Aa3 (4) 5,195,641
74,780   Total Ohio       79,388,728
    Oklahoma – 1.6%        
4,000   Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Refunding Series 2016, 5.000%, 7/01/36   7/26 at 100.00 AAA 4,612,640
    Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Refunding Series 2015A:        
1,590   5.000%, 8/15/27   8/25 at 100.00 A 1,770,529
1,250   5.000%, 8/15/29   8/25 at 100.00 A 1,390,100
    Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:        
1,935   5.250%, 8/15/43   8/28 at 100.00 Baa3 2,308,416
5,000   5.250%, 8/15/48   8/28 at 100.00 Baa3 5,943,900
10,000   Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2017A, 5.000%, 1/01/42   1/26 at 100.00 AA- 11,301,900
7,000   Oklahoma Water Resources Board, Revolving Fund Revenue Bonds, Master Trust, Series 2021, 4.000%, 4/01/47   4/31 at 100.00 N/R 8,068,410
30,775   Total Oklahoma       35,395,895
17

NUV Nuveen Municipal Value Fund, Inc. (continued)
  Portfolio of Investments January 31, 2022
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Oregon – 0.8%        
$2,500   Oregon Health and Science University, Revenue Bonds, Green Series 2021A, 4.000%, 7/01/44   1/32 at 100.00 N/R $2,848,650
6,585   Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Refunding Senior Lien Series 2017B, 5.000%, 11/15/28   5/27 at 100.00 AAA 7,773,263
5,330   University of Oregon, General Revenue Bonds, Series 2018A, 5.000%, 4/01/48   4/28 at 100.00 Aa2 6,331,134
14,415   Total Oregon       16,953,047
    Pennsylvania – 1.3%        
3,155   Geisinger Authority, Montour County, Pennsylvania, Health System Revenue Bonds, Geisinger Health System, Series 2017A-2, 5.000%, 2/15/39   2/27 at 100.00 AA- 3,657,434
3,000   Montgomery County Higher Education and Health Authority, Pennsylvania, Thomas Jefferson University Revenue Bonds, Series 2022B, 4.000%, 5/01/47   5/32 at 100.00 N/R 3,308,730
2,000   Pennsylvania State University, Revenue Bonds, Refunding Series 2016A, 5.000%, 9/01/41   9/26 at 100.00 Aa1 2,295,200
7,500   Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2013A, 5.000%, 12/01/43 (Pre-refunded 12/01/22)   12/22 at 100.00 AA- (4) 7,771,950
1,250   Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2014A, 4.750%, 12/01/37   12/26 at 100.00 AA- 1,408,675
3,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2020B, 5.000%, 12/01/50   12/30 at 100.00 A+ 3,677,400
3,645   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2021A, 4.000%, 12/01/50   12/30 at 100.00 A 4,074,089
570   Pittsburgh Water and Sewer Authority, Pennsylvania, Water and Sewer System Revenue Bonds, Refunding Subordinate Series 2019B, 4.000%, 9/01/34 –  AGM Insured   9/29 at 100.00 AA 657,552
1,350   Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2017, 5.000%, 1/01/38 (AMT)   1/28 at 100.00 Baa3 1,528,430
25,470   Total Pennsylvania       28,379,460
    Puerto Rico – 1.7%        
    Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:        
6,031   0.000%, 7/01/33   7/28 at 86.06 N/R 4,381,883
15,388   4.500%, 7/01/34   7/25 at 100.00 N/R 16,451,465
9,039   4.550%, 7/01/40   7/28 at 100.00 N/R 9,950,945
5,320   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 5,856,735
35,778   Total Puerto Rico       36,641,028
    South Carolina – 2.4%        
    Patriots Energy Group, South Carolina, Gas System Revenue Bonds, Improvement and Refunding Series 2021A:        
2,250   4.000%, 6/01/46   6/31 at 100.00 A2 2,521,530
3,000   4.000%, 6/01/51   6/31 at 100.00 A2 3,350,310
    Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2:        
12,760   0.000%, 1/01/28 –  AGC Insured   No Opt. Call AA 11,381,537
9,535   0.000%, 1/01/29 –  AGC Insured   No Opt. Call AA 8,262,459
18

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    South Carolina (continued)        
$5,500   South Carolina Public Service Authority, Revenue Obligation Bonds, Improvement Series 2021B, 5.000%, 12/01/51   12/31 at 100.00 A $6,759,940
5,500   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A, 5.000%, 12/01/50   6/25 at 100.00 A 6,340,730
8,000   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016B, 5.000%, 12/01/56   12/26 at 100.00 A 9,210,640
3,455   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54   6/24 at 100.00 A 3,891,159
50,000   Total South Carolina       51,718,305
    Tennessee – 1.1%        
    Hallsdale-Powell Utility District, Knox County, Tennessee, Water and Sewer Revenue Bonds, Refunding & Improvement Series 2022A:        
310   4.000%, 4/01/32   4/31 at 100.00 N/R 367,486
875   4.000%, 4/01/33   4/31 at 100.00 N/R 1,034,294
1,305   4.000%, 4/01/34   4/31 at 100.00 N/R 1,539,091
760   4.000%, 4/01/37   4/31 at 100.00 N/R 887,368
1,305   4.000%, 4/01/40   4/31 at 100.00 N/R 1,508,449
    Hallsdale-Powell Utility District, Knox County, Tennessee, Water and Sewer Revenue Bonds, Refunding Series 2021:        
1,000   5.000%, 10/01/31   No Opt. Call AA 1,289,550
250   5.000%, 10/01/32   No Opt. Call AA 328,455
1,450   Memphis, Tennessee, Sanitary Sewerage System Revenue Bonds, Refunding Series 2020B, 5.000%, 10/01/45   10/30 at 100.00 AA+ 1,788,343
2,260   Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage Revenue Bonds, Green Series 2017A, 5.000%, 7/01/42   7/27 at 100.00 AA 2,661,286
1,375   New Memphis Arena Public Building Authority, Memphis and Shelby County, Tennessee, Local Government Public Improvement Bonds, Capital Appreciation Series 2021, 0.000%, 4/01/40   4/31 at 81.47 AA 828,438
3,000   Tennessee State School Bond Authority, Higher Educational Facilities Second Program Bonds, Series 2017A, 5.000%, 11/01/42   11/27 at 100.00 AA+ 3,562,170
7,245   The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C, 4.000%, 5/01/48 (Mandatory Put 5/01/23)   2/23 at 100.43 A2 7,467,784
21,135   Total Tennessee       23,262,714
    Texas – 15.2%        
240   Baytown Municipal Development District, Texas, Hotel Revenue Bonds, Baytown Convention Center Hotel, First-Lien Series 2021A, 4.000%, 10/01/50   10/31 at 100.00 BBB- 252,266
14,355   Bexar County Hospital District, Texas, Certificates of Obligation, Series 2018, 4.000%, 2/15/43 (UB) (6)   2/27 at 100.00 Aa1 15,783,035
2,420   Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 1/01/43 (Pre-refunded 1/01/23)   1/23 at 100.00 A- (4) 2,514,985
2,680   Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien Series 2020G, 4.000%, 1/01/45   1/30 at 100.00 BBB+ 2,941,354
19