NPORT-EX 2 tiaa_NUV.htm
1
Nuveen
Municipal
Value
Fund,
Inc.
Portfolio
of
Investments
January
31,
2024
(Unaudited)
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
LONG-TERM
INVESTMENTS
-
100.7% 
X
–
MUNICIPAL
BONDS
-
100
.7
%
X
1,969,005,861
Alabama
-
0.4%
Birmingham
Airport
Authority,
Alabama,
Airport
Revenue
Bonds,
Series
2020
:
$
255
4.000%,
7/01/39
-
BAM
Insured
7/30
at
100.00
$
259,637
225
4.000%,
7/01/40
-
BAM
Insured
7/30
at
100.00
228,741
3,805
(c)
Homewood,
Alabama,
General
Obligation
Warrants,
Series
2016,
5.000%,
9/01/36,
(Pre-refunded
9/01/26)
9/26
at
100.00
4,026,942
2,455
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024,
5.500%,
10/01/53
10/33
at
100.00
2,723,189
Total
Alabama
7,238,509
Alaska
-
0.5%
9,750
Anchorage,
Alaska,
Solid
Waste
Services
Revenue
Bonds,
Refunding
Series
2022A,
4.000%,
11/01/52
11/32
at
100.00
9,375,484
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
103,009
Total
Alaska
9,478,493
Arizona
-
2.2%
1,915
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
5.000%,
6/01/49,
(AMT),
(Mandatory
Put
6/03/24)
6/24
at
100.00
1,919,828
2,935
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Series
2017A,
5.000%,
7/01/35
7/27
at
100.00
3,132,068
780
Phoenix
Civic
Improvement
Corporation,
Arizona,
Excise
Tax
Revenue
Bonds,
Subordinate
Lien
Series
2020A,
4.000%,
7/01/45
7/30
at
100.00
782,532
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
2,841,381
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
2,053,785
21,745
Salt
River
Project
Agricultural
Improvement
and
Power
District,
Arizona,
Electric
System
Revenue
Bonds,
Series
2023B,
5.250%,
1/01/53
1/34
at
100.00
24,524,870
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
6,093,376
Tucson,
Arizona,
Water
System
Revenue
Bonds,
Refunding
Series
2017
:
1,000
5.000%,
7/01/34
7/27
at
100.00
1,069,825
750
5.000%,
7/01/35
7/27
at
100.00
800,353
Total
Arizona
43,218,018
California
-
6.3%
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
386,707
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
1,211,188
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
2
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
California
(continued)
$
4,080
(c)
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B,
5.000%,
11/15/46,
(Pre-refunded
11/15/26)
11/26
at
100.00
$
4,355,913
5,920
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Series
2018A,
5.000%,
11/15/48
11/27
at
100.00
6,138,752
1,650
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A,
5.000%,
8/15/35
8/27
at
100.00
1,721,655
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A
:
1,635
5.000%,
12/31/43,
(AMT)
6/28
at
100.00
1,659,891
3,495
5.000%,
12/31/47,
(AMT)
6/28
at
100.00
3,522,705
1,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018B,
5.000%,
6/01/48,
(AMT)
6/28
at
100.00
1,006,418
2,290
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
San
Diego
County
Water
Authoriity
Desalination
Project
Pipeline,
Refunding
Series
2019,
5.000%,
7/01/39,
144A
1/29
at
100.00
2,363,312
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
3,496,303
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
3,894,284
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
6,068,216
2,180
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A,
6.850%,
1/15/42
1/31
at
100.00
2,661,934
Fresno,
California,
Airport
Revenue
Bonds,
Series
2023A
:
1,000
5.000%,
7/01/48
-
BAM
Insured,
(AMT)
7/33
at
100.00
1,059,069
1,000
5.000%,
7/01/53
-
BAM
Insured,
(AMT)
7/33
at
100.00
1,053,086
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
5,696,202
345
Golden
State
Tobacco
Securitization
Corporation,
California,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2022A-1,
5.000%,
6/01/51
12/31
at
100.00
361,355
2,780
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Series
2022I,
5.000%,
5/15/48
11/31
at
100.00
3,087,471
2,725
Los
Angeles
Department
of
Water
and
Power,
California,
Water
System
Revenue
Bonds,
Series
2023A,
5.250%,
7/01/53
7/33
at
100.00
3,119,259
2,555
Merced
Union
High
School
District,
Merced
County,
California,
General
Obligation
Bonds,
Series
1999A,
0.000%,
8/01/24
-
FGIC
Insured
No
Opt.
Call
2,512,464
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
2,093,855
Mount
San
Antonio
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
of
2008,
Series
2013A
:
3,060
5.875%,
8/01/28
2/28
at
100.00
3,478,850
2,315
(d)
0.000%,
8/01/43
8/35
at
100.00
2,298,783
3,550
M-S-R
Energy
Authority,
California,
Gas
Revenue
Bonds,
Citigroup
Prepay
Contracts,
Series
2009C,
6.500%,
11/01/39
No
Opt.
Call
4,604,300
3
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
California
(continued)
$
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
$
7,552,282
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
2,532,007
2,660
0.000%,
8/01/25
-
FGIC
Insured
No
Opt.
Call
2,520,265
220
San
Diego
Tobacco
Settlement
Revenue
Funding
Corporation,
California,
Tobacco
Settlement
Bonds,
Subordinate
Series
2018C,
4.000%,
6/01/32
6/28
at
100.00
221,383
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2019D
:
6,000
5.000%,
5/01/36
5/29
at
100.00
6,702,791
4,000
5.000%,
5/01/39
5/29
at
100.00
4,396,022
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
324,111
500
4.000%,
1/15/42
1/32
at
100.00
507,859
550
4.000%,
1/15/43
1/32
at
100.00
556,969
200
4.000%,
1/15/44
1/32
at
100.00
202,100
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
11,710,543
13,220
San
Mateo
County
Community
College
District,
California,
General
Obligation
Bonds,
Series
2006A,
0.000%,
9/01/28
-
NPFG
Insured
No
Opt.
Call
11,546,047
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
4,913,887
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
1,582,043
440
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
452,357
575
Vernon,
California,
Electric
System
Revenue
Bonds,
Series
2021A,
5.000%,
4/01/28
No
Opt.
Call
606,233
Total
California
124,178,871
Colorado
-
6.1%
7,500
Arapahoe
County
School
District
6,
Littleton,
Colorado,
General
Obligation
Bonds,
Series
2019A,
5.500%,
12/01/43
12/28
at
100.00
8,220,872
4,155
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-2,
4.000%,
8/01/49
8/29
at
100.00
3,920,625
1,255
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
1,257,610
7,070
Colorado
Mountain
College,
Colorado,
Certificates
of
Participation,
Series
2021,
4.000%,
12/01/46
12/31
at
100.00
7,112,684
4,500
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2018N,
5.000%,
3/15/37
3/28
at
100.00
4,834,468
1,000
Colorado
State,
Building
Excellent
Schools
Today,
Certificates
of
Participation,
Series
2020R,
4.000%,
3/15/45
3/30
at
100.00
1,002,720
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
1,361,333
2,000
5.000%,
9/01/31
3/28
at
100.00
2,173,231
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
4
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Colorado
(continued)
$
1,260
5.000%,
9/01/32
3/28
at
100.00
$
1,368,162
620
5.000%,
9/01/33
3/28
at
100.00
674,232
3,790
Colorado
State,
Certificates
of
Participation,
Rural
Series
2018A,
5.000%,
12/15/37
12/28
at
100.00
4,114,978
3,400
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022B,
5.250%,
11/15/53
11/32
at
100.00
3,787,294
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
2,032,955
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2000B
:
9,660
0.000%,
9/01/29
-
NPFG
Insured
No
Opt.
Call
8,130,896
24,200
0.000%,
9/01/31
-
NPFG
Insured
No
Opt.
Call
19,018,557
17,000
0.000%,
9/01/32
-
NPFG
Insured
No
Opt.
Call
12,882,177
2,905
E-470
Public
Highway
Authority,
Colorado,
Senior
Revenue
Bonds,
Series
2020A,
5.000%,
9/01/40
9/24
at
100.00
2,925,193
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
3,570,888
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
10,080,463
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
1,465,498
4,945
Regional
Transportation
District,
Colorado,
Sales
Tax
Revenue
Bonds,
Fastracks
Project,
Series
2017A,
5.000%,
11/01/40
11/26
at
100.00
5,130,778
State
of
Colorado,
Rural
Colorado,
Certificates
of
Participation,
Series
2022
:
5,355
6.000%,
12/15/38
12/32
at
100.00
6,570,437
3,000
6.000%,
12/15/41
12/32
at
100.00
3,638,038
4,250
(c)
University
of
Colorado,
Enterprise
System
Revenue
Bonds,
Series
2018B,
5.000%,
6/01/43,
(Pre-refunded
6/01/28)
6/28
at
100.00
4,682,823
Total
Colorado
119,956,912
Connecticut
-
0.9%
1,000
Connecticut
Airport
Authority,
Connecticut,
Customer
Facility
Charge
Revenue
Bonds,
Ground
Transportation
Center
Project,
Series
2019A,
5.000%,
7/01/49,
(AMT)
7/29
at
100.00
1,023,027
2,125
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Connecticut
Children's
Medical
Center
and
Subsidiaries,
Series
2023E,
5.250%,
7/15/48
1/33
at
100.00
2,320,315
8,440
Connecticut
State,
General
Obligation
Bonds,
Series
2015E,
5.000%,
8/01/29
8/25
at
100.00
8,687,020
5,000
Connecticut
State,
General
Obligation
Bonds,
Series
2015F,
5.000%,
11/15/33
11/25
at
100.00
5,156,791
Total
Connecticut
17,187,153
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
1,270,433
Total
Delaware
1,270,433
District
of
Columbia
-
1.7%
15,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
3/24
at
25.38
3,665,023
5
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
District
of
Columbia
(continued)
$
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
$
5,713,055
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
4,000,018
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
11,091,427
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
692,352
1,060
4.000%,
10/01/38
10/30
at
100.00
1,077,274
1,265
4.000%,
10/01/39
10/30
at
100.00
1,276,463
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
1,773,437
Washington
Metropolitan
Area
Transit
Authority,
District
of
Columbia,
Dedicated
Revenue
Bonds,
Series
2020A
:
2,390
4.000%,
7/15/45
7/30
at
100.00
2,385,345
1,775
5.000%,
7/15/45
7/30
at
100.00
1,921,863
Total
District
of
Columbia
33,596,257
Florida
-
6.1%
1,000
Babcock
Ranch
Community
Independent
Special
District,
Charlotte
County,
Florida,
Special
Assessment
Bonds,
2022
Project
Series
2022,
5.000%,
5/01/53
5/32
at
100.00
945,642
1,240
Broward
County,
Florida,
Half-Cent
Sales
Tax
Revenue
Bonds,
Refunding
Series
2020,
4.000%,
10/01/40
10/30
at
100.00
1,282,160
23,000
Broward
County,
Florida,
Tourist
Development
Tax
Revenue
Bonds,
Convention
Center
Expansion
Project,
Series
2021,
4.000%,
9/01/51
9/31
at
100.00
22,046,383
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
572,200
Florida
Development
Finance
Corporation,
Healthcare
Facilities
Revenue
Bonds,
UF
Health
-
Jacksonville
Project,
Series
2022A
:
1,800
4.000%,
2/01/41
-
AGM
Insured
2/32
at
100.00
1,781,703
1,875
4.000%,
2/01/42
-
AGM
Insured
2/32
at
100.00
1,835,079
15,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2023C,
8.000%,
7/01/57,
(AMT),
(Mandatory
Put
4/01/24),
144A
3/24
at
106.00
15,582,062
4,000
Gainesville,
Florida,
Utilities
System
Revenue
Bonds,
Series
2017A,
5.000%,
10/01/36
10/27
at
100.00
4,257,592
3,500
Gainesville,
Florida,
Utilities
System
Revenue
Bonds,
Series
2019A,
5.000%,
10/01/47
10/29
at
100.00
3,711,923
2,290
(c)
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
2,318,581
1,000
Lakeland,
Florida,
Energy
System
Revenue
Bonds,
Series
2021,
4.000%,
10/01/40
10/31
at
100.00
1,020,196
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
2,644,602
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
6
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Florida
(continued)
$
5,090
Miami-Dade
County
Expressway
Authority,
Florida,
Toll
System
Revenue
Bonds,
Series
2010A,
5.000%,
7/01/40
3/24
at
100.00
$
5,110,994
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
2,014,617
5,685
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT)
10/32
at
100.00
6,050,697
3,000
Miami-Dade
County,
Florida,
Transit
System
Sales
Surtax
Revenue
Bonds,
Series
2022,
5.000%,
7/01/51
7/32
at
100.00
3,218,333
5,330
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
5,179,011
Orlando
Utilities
Commission,
Florida,
Utility
System
Revenue
Bonds,
Series
2018A
:
3,500
5.000%,
10/01/36
10/27
at
100.00
3,731,643
3,780
5.000%,
10/01/37
10/27
at
100.00
4,045,332
1,120
5.000%,
10/01/38
10/27
at
100.00
1,182,872
10,725
(c)
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
10,772,628
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Capital
Appreciation
Series
2019A-2
:
3,500
0.000%,
10/01/43
10/29
at
61.27
1,299,579
3,575
0.000%,
10/01/44
10/29
at
59.08
1,247,519
4,000
0.000%,
10/01/45
10/29
at
56.95
1,316,472
750
0.000%,
10/01/49
10/29
at
49.08
193,949
5,000
0.000%,
10/01/50
10/29
at
47.17
1,223,440
11,000
0.000%,
10/01/53
10/29
at
41.97
2,277,472
4,000
Pembroke
Pines,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019A,
4.000%,
7/01/38
7/29
at
100.00
4,107,226
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
1,064,337
6,865
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
Refunding
Series
2015,
4.000%,
5/01/34
5/25
at
100.00
6,927,821
Total
Florida
118,962,065
Georgia
-
3.3%
3,325
Atlanta,
Georgia,
Water
and
Wastewater
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
11/01/40
5/25
at
100.00
3,378,006
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
2,340,675
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2017B
:
3,500
5.500%,
2/15/42
2/27
at
100.00
3,693,489
2,500
5.250%,
2/15/45
2/27
at
100.00
2,601,103
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
1,319,871
17,010
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
J
Bonds,
Series
2019A,
5.000%,
1/01/49
-
BAM
Insured
7/28
at
100.00
17,549,008
4,025
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
19A,
5.000%,
1/01/59
-
AGM
Insured
7/28
at
100.00
4,116,498
7
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Georgia
(continued)
$
17,350
Municipal
Electric
Authority
of
Georgia,
Plant
Vogtle
Units
3
&
4
Project
M
Bonds,
Series
2022A,
5.000%,
7/01/52
-
AGM
Insured
7/32
at
100.00
$
18,343,657
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
2,443,291
Municipal
Electric
Authority
of
Georgia,
Project
One
Revenue
Bonds,
Subordinate
Lien
Series
2020A
:
1,000
5.000%,
1/01/45
1/31
at
100.00
1,059,640
5,500
5.000%,
1/01/50
1/31
at
100.00
5,740,303
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
2,058,366
Total
Georgia
64,643,907
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
5,180,272
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
3,222,055
Total
Hawaii
8,402,327
Idaho
-
0.1%
1,550
University
of
Idaho,
General
Revenue
Bonds,
Refunding
Series
2022A,
4.000%,
4/01/45
-
BAM
Insured
4/32
at
100.00
1,559,522
Total
Idaho
1,559,522
Illinois
-
10.8%
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
5,224,012
5,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016A,
7.000%,
12/01/44
12/25
at
100.00
5,222,248
2,945
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2016B,
6.500%,
12/01/46
12/26
at
100.00
3,087,808
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
5,113,020
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
17,222,155
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
5,464,510
Chicago
Greater
Metropolitan
Water
Reclamation
District,
Illinois,
General
Obligation
Bonds,
Limited
Tax
Capital
Improvement
Green
Series
2021A
:
2,325
4.000%,
12/01/46
12/31
at
100.00
2,304,567
4,000
4.000%,
12/01/51
12/31
at
100.00
3,868,202
1,875
Chicago
Transit
Authority,
Illinois,
Capital
Grant
Receipts
Revenue
Bonds,
Federal
Transit
Administration
Section
5307
Urbanized
Area
Formula
Funds,
Refunding
Series
2021,
5.000%,
6/01/29
No
Opt.
Call
2,038,584
5,000
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Second
Lien
Series
2022A,
5.000%,
12/01/46
-
BAM
Insured
12/31
at
100.00
5,371,605
5,100
Chicago
Transit
Authority,
Illinois,
Sales
Tax
Receipts
Revenue
Bonds,
Series
2014,
5.000%,
12/01/44
12/24
at
100.00
5,112,591
1,000
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2018,
5.000%,
11/15/35
11/26
at
100.00
1,041,632
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
8
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Illinois
(continued)
$
1,500
Cook
County,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2021A,
5.000%,
11/15/32
11/30
at
100.00
$
1,686,510
Cook
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2021A
:
2,040
4.000%,
11/15/40
11/30
at
100.00
2,028,716
1,000
4.000%,
11/15/41
11/30
at
100.00
994,723
1,300
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015A,
5.000%,
11/15/38
5/25
at
100.00
1,314,898
3,700
Illinois
Finance
Authority,
Revenue
Bonds,
Rush
University
Medical
Center
Obligated
Group,
Series
2015B,
5.000%,
11/15/39
5/25
at
100.00
3,737,564
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
570,389
825
5.000%,
8/15/44
8/25
at
100.00
835,782
5,125
Illinois
State,
General
Obligation
Bonds,
November
Series
2017C,
5.000%,
11/01/29
11/27
at
100.00
5,473,739
1,755
Illinois
State,
General
Obligation
Bonds,
October
Series
2016,
5.000%,
2/01/27
No
Opt.
Call
1,846,853
5,590
(c)
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2013A,
5.000%,
1/01/38,
(Pre-refunded
4/02/24)
4/24
at
100.00
5,606,520
4,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2016B,
5.000%,
1/01/41
7/26
at
100.00
4,107,926
5,000
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Lien
Series
2020A,
5.000%,
1/01/45
1/31
at
100.00
5,412,379
9,015
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A,
4.000%,
6/15/50
12/29
at
100.00
8,351,061
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
4,499,313
11,675
0.000%,
6/15/29
-
FGIC
Insured
No
Opt.
Call
9,653,107
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Series
2002A
:
4,950
0.000%,
12/15/32
-
NPFG
Insured
No
Opt.
Call
3,601,069
21,375
0.000%,
6/15/34
-
NPFG
Insured
No
Opt.
Call
14,660,587
21,000
0.000%,
12/15/35
-
NPFG
Insured
No
Opt.
Call
13,455,307
21,970
0.000%,
6/15/36
-
NPFG
Insured
No
Opt.
Call
13,687,563
10,375
0.000%,
12/15/36
-
NPFG
Insured
No
Opt.
Call
6,292,382
10,000
0.000%,
12/15/37
-
NPFG
Insured
No
Opt.
Call
5,742,065
25,825
0.000%,
6/15/39
-
NPFG
Insured
No
Opt.
Call
13,759,728
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
7,564,203
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
9,795,846
5,000
(c)
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
5,030,053
Total
Illinois
210,779,217
Indiana
-
1.2%
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
2,251,907
9
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Indiana
(continued)
$
2,000
Indiana
Municipal
Power
Agency
Power
Supply
System
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
1/01/42
7/26
at
100.00
$
2,044,237
4,250
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Community
Justice
Campus
Bonds,
Courthouse
&
Jail
Project,
Series
2019A,
5.000%,
2/01/54
2/29
at
100.00
4,435,626
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Series
1999E
:
2,400
0.000%,
2/01/25
-
AMBAC
Insured
No
Opt.
Call
2,317,882
14,595
0.000%,
2/01/27
-
AMBAC
Insured
No
Opt.
Call
13,232,717
Total
Indiana
24,282,369
Kentucky
-
1.8%
Kenton
County
Airport
Board,
Kentucky,
Airport
Revenue
Bonds,
Cincinnati/Northern
Kentucky
International
Airport,
Refunding
Series
2016
:
1,530
5.000%,
1/01/27
1/26
at
100.00
1,587,973
1,600
5.000%,
1/01/28
1/26
at
100.00
1,658,202
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
1,370,175
1,435
5.000%,
9/01/38
9/28
at
100.00
1,525,349
4,000
5.000%,
9/01/43
9/28
at
100.00
4,176,336
2,000
5.000%,
9/01/48
9/28
at
100.00
2,078,528
1,000
Kentucky
Economic
Development
Finance
Authority,
Louisville
Arena
Project
Revenue
Bonds,
Louisville
Arena
Authority,
Inc.,
Series
2017A,
5.000%,
12/01/45
-
AGM
Insured
12/27
at
100.00
1,040,902
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
8,938,075
6,000
Kentucky
Public
Transportation
Infrastructure
Authority,
Toll
Revenue
Bonds,
Downtown
Crossing
Project,
Convertible
Capital
Appreciation
First
Tier
Series
2013C,
6.600%,
7/01/39
7/31
at
100.00
6,889,085
5,000
Kentucky
State
Property
and
Buildings
Commission,
Revenue
Bonds,
Project
115,
Series
2017,
5.000%,
4/01/30
4/27
at
100.00
5,303,498
Total
Kentucky
34,568,123
Louisiana
-
0.6%
1,335
East
Baton
Rouge
Sewerage
Commission,
Louisiana,
Revenue
Bonds,
Refunding
Series
2019A,
4.000%,
2/01/45
2/29
at
100.00
1,336,592
9,040
New
Orleans
Aviation
Board,
Louisiana,
General
Airport
Revenue
Bonds,
North
Terminal
Project,
Series
2017A,
5.000%,
1/01/48
-
AGM
Insured
1/27
at
100.00
9,355,896
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
1,536,265
Total
Louisiana
12,228,753
Maine
-
0.9%
Maine
Health
and
Higher
Educational
Facilities
Authority
Revenue
Bonds,
MaineHealth
Issue,
Series
2018A
:
5,125
5.000%,
7/01/43
7/28
at
100.00
5,344,850
2,005
5.000%,
7/01/48
7/28
at
100.00
2,080,728
1,805
Maine
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2020,
5.000%,
7/01/50
7/30
at
100.00
1,930,144
7,990
University
of
Maine,
System
Revenue
Bonds,
Series
2022,
5.000%,
3/01/47
3/32
at
100.00
8,513,895
Total
Maine
17,869,617
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
10
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Maryland
-
1.2%
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017
:
$
1,140
5.000%,
9/01/29
9/27
at
100.00
$
1,141,363
630
5.000%,
9/01/31
9/27
at
100.00
630,919
1,945
5.000%,
9/01/32
9/27
at
100.00
1,946,888
385
5.000%,
9/01/34
9/27
at
100.00
385,011
2,750
5.000%,
9/01/35
9/27
at
100.00
2,746,992
2,550
5.000%,
9/01/42
9/27
at
100.00
2,472,121
6,665
5.000%,
9/01/46
9/27
at
100.00
6,280,020
1,050
Maryland
Health
and
Higher
Educational
Facilities
Authority,
Maryland,
Revenue
Bonds,
Meritus
Medical
Center,
Series
2015,
5.000%,
7/01/40
7/25
at
100.00
1,060,250
Maryland
Stadium
Authority,
Revenue
Bonds,
Baltimore
City
Public
Schools
Construction
&
Revitalization
Program,
Series
2018A
:
4,375
5.000%,
5/01/47
5/28
at
100.00
4,581,085
2,260
(c)
5.000%,
5/01/47,
(Pre-refunded
5/01/28)
5/28
at
100.00
2,475,926
Total
Maryland
23,720,575
Massachusetts
-
0.5%
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
1,087,436
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
2,908,984
1,500
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Series
2016E,
5.000%,
7/01/35
7/26
at
100.00
1,545,340
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
2,832,266
980
Massachusetts
Turnpike
Authority,
Metropolitan
Highway
System
Revenue
Bonds,
Senior
Series
1997A,
0.000%,
1/01/29
-
NPFG
Insured
No
Opt.
Call
836,478
Total
Massachusetts
9,210,504
Michigan
-
3.4%
Bloomfield
Hills
Schools,
Oakland
County,
Michigan,
General
Obligation
Bonds,
School
Building
&
Site
Series
2023
:
1,475
5.000%,
5/01/44
5/33
at
100.00
1,630,588
625
5.000%,
5/01/48
5/33
at
100.00
679,819
820
5.000%,
5/01/50
5/33
at
100.00
891,203
Detroit
Academy
of
Arts
and
Sciences,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2013
:
1,405
6.000%,
10/01/33
3/24
at
100.00
1,353,073
2,520
6.000%,
10/01/43
3/24
at
100.00
2,318,186
15
Detroit,
Michigan,
Second
Lien
Sewerage
Disposal
System
Revenue
Bonds,
Series
2005A,
4.500%,
7/01/35
-
NPFG
Insured
3/24
at
100.00
15,017
2,925
Detroit,
Michigan,
Senior
Lien
Sewerage
Disposal
System
Revenue
Bonds,
Series
2001B,
5.500%,
7/01/29
-
NPFG
Insured
No
Opt.
Call
3,076,507
5
Detroit,
Michigan,
Water
Supply
System
Revenue
Bonds,
Second
Lien
Series
2003B,
5.000%,
7/01/34
-
NPFG
Insured
3/24
at
100.00
5,008
5
Detroit,
Michigan,
Water
Supply
System
Revenue
Bonds,
Senior
Lien
Series
2003A,
5.000%,
7/01/34
-
NPFG
Insured
3/24
at
100.00
5,009
4,000
Kalamazoo
County,
Michigan,
General
Obligation
Bonds,
Limitied
Tax
Series
2022,
4.000%,
5/01/45
5/31
at
100.00
3,997,291
11
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Michigan
(continued)
$
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
$
3,516,440
6,385
Michigan
Finance
Authority,
Distributable
State
Aid
Revenue
Bonds,
Charter
County
of
Wayne,
Second
Lien
Refunding
Series
2020,
4.000%,
11/01/55
-
BAM
Insured
11/30
at
100.00
5,974,499
2,000
Michigan
Finance
Authority,
Hospital
Revenue
Bonds,
Henry
Ford
Health
System,
Series
2019A,
5.000%,
11/15/48
11/29
at
100.00
2,074,834
1,565
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
1,618,260
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
5,763,502
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2015-I
:
9,565
5.000%,
4/15/30
10/25
at
100.00
9,888,631
435
(c)
5.000%,
4/15/30,
(Pre-refunded
10/15/25)
10/25
at
100.00
449,755
2,100
Michigan
State
Building
Authority,
Revenue
Bonds,
Facilities
Program,
Refunding
Series
2023II,
4.000%,
10/15/43
10/33
at
100.00
2,152,562
Michigan
State,
Trunk
Line
Fund
Bonds,
Rebuilding
Michigan
Program,
Series
2021A
:
3,020
4.000%,
11/15/37
11/31
at
100.00
3,201,799
6,510
4.000%,
11/15/38
11/31
at
100.00
6,854,599
Michigan
Technological
University,
General
Revenue
Bonds,
Series
2023A
:
1,515
5.000%,
10/01/47
-
AGM
Insured
10/31
at
100.00
1,606,816
675
5.250%,
10/01/52
-
AGM
Insured
10/31
at
100.00
720,537
1,800
Northern
Michigan
University,
General
Revenue
Bonds,
Series
2021,
4.000%,
6/01/46
6/31
at
100.00
1,741,977
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
1,112,320
5,000
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023A,
5.250%,
12/01/48
-
AGM
Insured
12/33
at
100.00
5,645,781
Total
Michigan
66,294,013
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
3,906,029
1,480
University
of
Minnesota,
General
Obligation
Bonds,
Series
2016A,
5.000%,
4/01/41
4/26
at
100.00
1,520,144
Total
Minnesota
5,426,173
Missouri
-
0.2%
3,465
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
CoxHealth,
Series
2013A,
5.000%,
11/15/48
3/24
at
100.00
3,466,397
Total
Missouri
3,466,397
Montana
-
0.6%
1,115
Billings,
Montana,
Sewer
System
Revenue
Bonds,
Series
2017,
5.000%,
7/01/33
7/27
at
100.00
1,188,362
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
12
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Montana
(continued)
Montana
Facility
Finance
Authority,
Healthcare
Facility
Revenue
Bonds,
Kalispell
Regional
Medical
Center,
Series
2018B
:
$
1,040
5.000%,
7/01/29
7/28
at
100.00
$
1,092,676
2,475
5.000%,
7/01/30
7/28
at
100.00
2,603,653
1,415
5.000%,
7/01/31
7/28
at
100.00
1,488,359
1,980
5.000%,
7/01/32
7/28
at
100.00
2,082,146
3,045
Montana
Facility
Finance
Authority,
Revenue
Bonds,
Billings
Clinic
Obligated
Group,
Series
2018A,
5.000%,
8/15/48
8/28
at
100.00
3,150,974
Total
Montana
11,606,170
Nebraska
-
0.8%
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
3
Revenue
Bonds,
Refunding
Crossover
Series
2017A
:
1,710
5.000%,
9/01/35
No
Opt.
Call
1,871,843
1,500
5.000%,
9/01/42
No
Opt.
Call
1,639,591
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
1,422,926
10,500
Omaha
Public
Power
District,
Nebraska,
Electric
System
Revenue
Bonds,
Series
2022B,
5.250%,
2/01/52
2/32
at
100.00
11,606,360
Total
Nebraska
16,540,720
Nevada
-
2.6%
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
499,682
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
2,195,650
5,000
5.000%,
12/01/35
12/28
at
100.00
5,463,029
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
5,278,779
8,500
Las
Vegas
Convention
and
Visitors
Authority,
Nevada,
Revenue
Bonds,
Series
2018C,
5.250%,
7/01/43
7/28
at
100.00
9,067,025
Las
Vegas
Valley
Water
District,
Nevada,
General
Obligation
Bonds,
Refunding
Series
2015
:
5,220
5.000%,
6/01/33
12/24
at
100.00
5,302,089
10,000
5.000%,
6/01/34
12/24
at
100.00
10,155,607
9,000
5.000%,
6/01/39
12/24
at
100.00
9,105,976
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
1,244,430
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
2,068,018
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
271,481
Total
Nevada
50,651,766
New
Jersey
-
4.5%
2,500
Delaware
River
Port
Authority,
New
Jersey
and
Pennsylvania,
Revenue
Bonds,
Series
2018A,
5.000%,
1/01/36
1/29
at
100.00
2,743,952
13
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
New
Jersey
(continued)
$
930
New
Jersey
Economic
Development
Authority,
Private
Activity
Bonds,
The
Goethals
Bridge
Replacement
Project,
Series
2013,
5.125%,
1/01/39
-
AGM
Insured,
(AMT)
3/24
at
100.00
$
930,057
6,000
(c)
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Refunding
Series
2016BBB,
5.500%,
6/15/31,
(Pre-
refunded
12/15/26)
12/26
at
100.00
6,476,218
5,990
New
Jersey
Economic
Development
Authority,
School
Facilities
Construction
Bonds,
Series
2005N-1,
5.500%,
9/01/25
-
AGM
Insured
No
Opt.
Call
6,233,967
3,380
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
Program
Bonds,
Series
2022BB,
4.000%,
6/15/46
12/31
at
100.00
3,336,876
9,420
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Capital
Appreciation
Series
2010A,
0.000%,
12/15/31
No
Opt.
Call
7,221,293
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Refunding
Series
2006C
:
30,000
0.000%,
12/15/30
-
FGIC
Insured
No
Opt.
Call
23,931,096
27,000
0.000%,
12/15/32
-
AGM
Insured
No
Opt.
Call
20,145,124
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2015AA
:
2,750
5.250%,
6/15/32
6/25
at
100.00
2,823,785
2,150
5.250%,
6/15/34
6/25
at
100.00
2,206,196
1,220
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2020AA,
4.000%,
6/15/50
12/30
at
100.00
1,182,583
2,000
New
Jersey
Turnpike
Authority,
Revenue
Bonds,
Series
2017B,
5.000%,
1/01/40
1/28
at
100.00
2,121,767
3,760
New
Jersey
Turnpike
Authority,
Turnpike
Revenue
Bonds,
Series
2017G,
4.000%,
1/01/43
1/28
at
100.00
3,768,338
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
1,563,953
2,535
Tobacco
Settlement
Financing
Corporation,
New
Jersey,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2018B,
5.000%,
6/01/46
6/28
at
100.00
2,579,333
Total
New
Jersey
87,264,538
New
York
-
7.7%
4,200
Dormitory
Authority
of
the
State
of
New
York,  State
Personal
Income
Tax
Revenue
Bonds,  General
Purpose,
Series
2021B,
4.000%,
3/15/47
3/31
at
100.00
4,155,785
Dormitory
Authority
of
the
State
of
New
York,
Lease
Revenue
Bonds,
State
University
Dormitory
Facilities,
Series
2017A
:
2,970
5.000%,
7/01/42
7/27
at
100.00
3,107,304
780
(c)
5.000%,
7/01/42,
(Pre-refunded
7/01/27)
7/27
at
100.00
839,444
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
2,110,513
Long
Island
Power
Authority,
New
York,
Electric
System
General
Revenue
Bonds,
Series
2021A
:
1,000
4.000%,
9/01/39
9/31
at
100.00
1,037,080
2,100
4.000%,
9/01/41
9/31
at
100.00
2,156,627
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1
:
3,100
4.750%,
11/15/45
5/30
at
100.00
3,184,078
8,325
5.000%,
11/15/50
5/30
at
100.00
8,735,497
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
14
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
New
York
(continued)
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
2/24
at
100.00
$
3,134,874
7,380
5.000%,
11/15/56
2/24
at
100.00
7,324,830
New
York
City
Industrial
Development
Agency,
New
York,
PILOT
Payment
in
Lieu
of
Taxes
Revenue
Bonds,
Queens
Baseball
Stadium
Project,
Refunding
Series
2021A
:
1,500
5.000%,
1/01/29
-
AGM
Insured
No
Opt.
Call
1,641,920
1,750
5.000%,
1/01/30
-
AGM
Insured
No
Opt.
Call
1,950,004
4,000
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2019
Series
FF-2,
4.000%,
6/15/37
6/29
at
100.00
4,143,824
17,425
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
18,741,786
5,000
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
5,433,724
3,465
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2021
Series
C,
5.000%,
8/01/42
8/30
at
100.00
3,794,393
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
11,768,478
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
-
BAM
Insured
2/30
at
100.00
3,207,828
4,000
New
York
State
Power
Authority,
General
Revenue
Bonds,
Series
2020A,
4.000%,
11/15/50
5/30
at
100.00
3,986,365
1,000
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
4.000%,
3/15/49
9/32
at
100.00
999,983
8,270
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.000%,
7/01/41,
(AMT)
7/24
at
100.00
8,274,558
2,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023,
5.375%,
6/30/60,
(AMT)
6/31
at
100.00
2,094,227
5,000
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
Terminal
4
John
F
Kennedy
International
Airport
Project,
Series
2022,
5.000%,
12/01/40,
(AMT)
12/32
at
100.00
5,286,292
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
3,349,414
5,250
5.000%,
1/01/36,
(AMT)
1/28
at
100.00
5,388,534
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
4,154,689
8,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
General
Purpose
Revenue
Bonds,
MTA
Bridges
&
Tunnels,
Series
2017A,
5.000%,
11/15/37
5/27
at
100.00
8,447,789
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
3,034,340
7,000
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
Senior
Lien
Green
Bonds,
Series
2022D-2,
4.500%,
5/15/52
11/32
at
100.00
7,229,765
15
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
New
York
(continued)
$
5,000
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
$
5,384,754
6,000
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
6,599,003
650
TSASC
Inc.,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Fiscal
2017
Series
B,
5.000%,
6/01/24
No
Opt.
Call
651,419
Total
New
York
151,349,121
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
1,565,524
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
2,181,394
4,175
5.000%,
6/30/54,
(AMT)
6/25
at
100.00
4,175,015
2,995
North
Carolina
Turnpike
Authority,
Monroe
Expressway
Toll  Revenue
Bonds,
Series
2017A,
5.000%,
7/01/54
7/26
at
100.00
3,037,231
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
1,012,857
1,500
0.000%,
1/01/42
1/30
at
68.97
721,301
14,500
0.000%,
1/01/49
1/30
at
54.10
4,790,684
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
1,703,701
1,850
5.000%,
1/01/32
1/27
at
100.00
1,938,388
Total
North
Carolina
21,126,095
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
1,864,872
Total
North
Dakota
1,864,872
Ohio
-
4.1%
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
4,357,099
44,100
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
41,699,553
4,975
Central
Ohio
Transit
Authority,
Ohio,
General
Obligation
Bonds,
Capital
Facilities
Limited
Tax
Series
2023,
5.000%,
12/01/53
12/33
at
100.00
5,427,574
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
1,288,551
3,485
Franklin
County,
Ohio,
Revenue
Bonds,
Trinity
Health
Credit
Group,
Series
2017OH,
4.000%,
12/01/46
6/27
at
100.00
3,408,642
5,000
Franklin
County,
Ohio,
Sales
Tax
Revenue
Bonds,
Various
Purpose
Series
2018,
5.000%,
6/01/43
6/28
at
100.00
5,346,935
14,500
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
13,247,755
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
16
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Ohio
(continued)
$
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
$
4,129,213
1,940
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Public
Improvement
TOT
Revenue
Bonds,
Series
2021,
4.250%,
12/01/50,
144A
12/28
at
100.00
1,690,041
Total
Ohio
80,595,363
Oklahoma
-
1.4%
4,000
(c)
Oklahoma
City
Water
Utilities
Trust,
Oklahoma,
Water
and
Sewer
Revenue
Bonds,
Refunding
Series
2016,
5.000%,
7/01/36,
(Pre-refunded
7/01/26)
7/26
at
100.00
4,206,818
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
1,616,899
1,250
5.000%,
8/15/29
8/25
at
100.00
1,269,720
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B
:
1,790
5.250%,
8/15/43
8/28
at
100.00
1,791,849
7,040
5.500%,
8/15/57
8/28
at
100.00
7,088,509
1,000
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Taxable
Series
2022,
5.500%,
8/15/37
8/32
at
100.00
1,019,612
10,000
Oklahoma
State
Turnpike
Authority,
Turnpike
System
Revenue
Bonds,
Second
Senior
Series
2017A,
5.000%,
1/01/42
1/26
at
100.00
10,194,147
Total
Oklahoma
27,187,554
Oregon
-
1.3%
2,500
Oregon
Health
and
Science
University,
Revenue
Bonds,
Green
Series
2021A,
4.000%,
7/01/44
1/32
at
100.00
2,507,446
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
7,070,524
2,000
Oregon
State,
General
Obligation
Bonds,
Article
XI-Q
State
Projects
Series
2021A,
4.000%,
5/01/40
5/31
at
100.00
2,072,781
7,500
Portland,
Oregon,
Sewer
System
Revenue
Bonds,
Second
Lien
Refunding
Series
2023A,
5.000%,
12/01/47
6/33
at
100.00
8,390,259
5,330
University
of
Oregon,
General
Revenue
Bonds,
Series
2018A,
5.000%,
4/01/48
4/28
at
100.00
5,547,288
Total
Oregon
25,588,298
Pennsylvania
-
0.9%
3,155
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-1,
5.000%,
2/15/45
2/27
at
100.00
3,222,956
3,035
Montgomery
County
Higher
Education
and
Health
Authority,
Pennsylvania,
Revenue
Bonds,
Thomas
Jefferson
University,
Series
2022B,
4.000%,
5/01/52
5/32
at
100.00
2,820,793
2,000
Pennsylvania
State
University,
Revenue
Bonds,
Refunding
Series
2016A,
5.000%,
9/01/41
9/26
at
100.00
2,078,139
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
1,296,409
3,000
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2018A-2,
5.000%,
12/01/48
12/28
at
100.00
3,157,416
1,025
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2019A,
4.000%,
12/01/49
12/29
at
100.00
996,227
17
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Pennsylvania
(continued)
$
2,620
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Subordinate
Series
2021A,
4.000%,
12/01/50
12/30
at
100.00
$
2,543,611
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
595,040
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
1,381,454
Total
Pennsylvania
18,092,045
Puerto
Rico
-
1.8%
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1
:
10,046
0.000%,
7/01/33
7/28
at
86.06
6,900,311
5,985
4.500%,
7/01/34
7/25
at
100.00
6,025,552
5,125
5.000%,
7/01/58
7/28
at
100.00
5,141,599
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
5,339,226
12,119
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2,
4.329%,
7/01/40
7/28
at
100.00
12,073,586
Total
Puerto
Rico
35,480,274
South
Carolina
-
2.4%
Patriots
Energy
Group,
South
Carolina,
Gas
System
Revenue
Bonds,
Improvement
and
Refunding
Series
2021A
:
3,750
4.000%,
6/01/46
6/31
at
100.00
3,669,893
1,500
4.000%,
6/01/51
6/31
at
100.00
1,431,427
Piedmont
Municipal
Power
Agency,
South
Carolina,
Electric
Revenue
Bonds,
Series
2004A-2
:
12,760
0.000%,
1/01/28
-
AGC
Insured
No
Opt.
Call
11,106,332
9,535
0.000%,
1/01/29
-
AGC
Insured
No
Opt.
Call
8,013,730
4,000
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
&
Improvement
Series
2020A,
4.000%,
12/01/39
12/30
at
100.00
4,004,886
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2016B
:
5,500
5.000%,
12/01/46
12/26
at
100.00
5,579,678
8,000
5.000%,
12/01/56
12/26
at
100.00
8,056,838
1,500
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Refunding
Series
2022A,
5.000%,
12/01/55
6/32
at
100.00
1,564,624
3,455
South
Carolina
Public
Service
Authority,
Santee
Cooper
Revenue
Obligations,
Series
2014A,
5.500%,
12/01/54
6/24
at
100.00
3,462,294
Total
South
Carolina
46,889,702
South
Dakota
-
0.1%
2,630
Baltic
School
District
No.
49-1,
South
Dakota,
General
Obligation
Bonds,
Series
2022,
5.250%,
12/01/47
-
AGM
Insured
12/31
at
100.00
2,868,113
Total
South
Dakota
2,868,113
Tennessee
-
1.5%
Hallsdale-Powell
Utility
District,
Knox
County,
Tennessee,
Water
and
Sewer
Revenue
Bonds,
Refunding
&
Improvement
Series
2022A
:
760
4.000%,
4/01/37
4/31
at
100.00
796,220
1,305
4.000%,
4/01/40
4/31
at
100.00
1,335,508
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
18
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Tennessee
(continued)
Loudon,
Tennessee,
Water
and
Sewer
Revenue
Bonds,
Series
2023
:
$
1,000
5.000%,
3/01/40
3/33
at
100.00
$
1,112,845
1,000
5.000%,
3/01/41
3/33
at
100.00
1,108,141
1,495
5.000%,
3/01/42
3/33
at
100.00
1,648,643
4,250
4.375%,
3/01/48
3/33
at
100.00
4,292,022
1,450
Memphis,
Tennessee,
Sanitary
Sewerage
System
Revenue
Bonds,
Refunding
Series
2020B,
5.000%,
10/01/45
10/30
at
100.00
1,577,912
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
2,358,565
2,000
Metropolitan
Nashville
Airport
Authority,
Tennessee,
Airport
Improvement
Revenue
Bonds,
Series
2022A,
5.250%,
7/01/47
7/32
at
100.00
2,231,909
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
651,387
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
3,144,215
5,000
Tennessee
State,
General
Obligation
Bonds,
Series
2023A,
5.000%,
5/01/40
5/33
at
100.00
5,786,400
3,240
West
Wilson
Utility
District,
Wilson
County,
Tennessee,
Water
Revenue
Bonds,
Improvement
Series
2022,
4.000%,
6/01/52
6/32
at
100.00
3,199,282
Total
Tennessee
29,243,049
Texas
-
13.1%
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
201,952
14,355
(e)
Bexar
County
Hospital
District,
Texas,
Certificates
of
Obligation,
Series
2018,
4.000%,
2/15/43,
(UB)
2/27
at
100.00
14,231,023
4,750
Bexar
County
Hospital
District,
Texas,
Certificates
of
Obligation,
Series
2023,
5.000%,
2/15/48
8/32
at
100.00
5,153,610
710
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Senior
Lien
Series
2020A,
5.000%,
1/01/39
1/30
at
100.00
765,300
240
(c)
Decatur
Hospital
Authority,
Texas,
Revenue
Bonds,
Wise
Regional
Health
System,
Series
2014A,
5.250%,
9/01/44,
(Pre-refunded
9/01/24)
9/24
at
100.00
242,531
5,000
El
Paso
County
Hospital
District,
Texas,
General
Obligtion
Bonds,
Certificates
of
Obligation
Series
2013,
5.000%,
8/15/39
3/24
at
100.00
5,000,209
Fort
Bend
County
Municipal
Utility
District
50,
Texas,
General
Obligation
Bonds,
Series
2018A
:
2,600
4.000%,
9/01/46
-
AGM
Insured
3/24
at
100.00
2,467,273
5,500
4.000%,
9/01/48
-
AGM
Insured
3/24
at
100.00
5,093,669
2,845
Harris
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Revenue
Bonds,
Houston
Methodist
Hospital
System,
Series
2015,
4.000%,
12/01/45
6/25
at
100.00
2,671,002
7,295
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Capital
Appreciation
Refunding
Senior
Lien
Series
2014A,
0.000%,
11/15/50
-
AGM
Insured
11/31
at
39.79
2,056,727
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H
:
11,055
0.000%,
11/15/27
No
Opt.
Call
9,623,704
845
(c)
0.000%,
11/15/27,
(ETM)
No
Opt.
Call
744,888
19
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Texas
(continued)
$
1,565
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Refunding
Second
Lien
Series
2014C,
5.000%,
11/15/31
11/24
at
100.00
$
1,578,404
14,905
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
8,522,290
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
951,598
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
&
Subordinate
Lien
Series
2018B
:
1,590
5.000%,
7/01/43
7/28
at
100.00
1,689,819
2,290
5.000%,
7/01/48
7/28
at
100.00
2,412,785
Houston,
Texas,
Hotel
Occupancy
Tax
and
Special
Revenue
Bonds,
Convention
and
Entertainment
Project,
Series
2001B
:
24,755
0.000%,
9/01/29
-
AMBAC
Insured
No
Opt.
Call
20,518,551
12,940
0.000%,
9/01/30
-
AMBAC
Insured
No
Opt.
Call
10,348,751
10,000
0.000%,
9/01/31
-
AMBAC
Insured
No
Opt.
Call
7,696,542
19,500
0.000%,
9/01/32
-
AMBAC
Insured
No
Opt.
Call
14,431,620
5,120
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2015A,
5.000%,
8/15/39
8/25
at
100.00
5,187,806
4,510
Leander
Independent
School
District,
Williamson
and
Travis
Counties,
Texas,
General
Obligation
Bonds,
Refunding
Series
2016A,
5.000%,
8/15/49
8/26
at
100.00
4,647,473
1,705
Love
Field
Airport
Modernization
Corporation,
Texas,
Special
Facilities
Revenue
Bonds,
Southwest
Airlines
Company
-
Love
Field
Modernization
Program
Project,
Series
2012,
5.000%,
11/01/28,
(AMT)
3/24
at
100.00
1,705,055
3,570
Lower
Colorado
River
Authority,
Texas,
Transmission
Contract
Revenue
Bonds,
LCRA
Transmission
Services
Corporation
Project,
Refunding
Series
2021A,
5.000%,
5/15/51
5/31
at
100.00
3,807,231
Lubbock,
Texas,
Electric
Light
and
Power
System
Revenue
Bonds,
Series
2018
:
2,170
5.000%,
4/15/40
4/28
at
100.00
2,302,859
3,930
5.000%,
4/15/43
4/28
at
100.00
4,140,680
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier
Capital
Appreciation
Series
2008I
:
30,000
(c)
6.200%,
1/01/42,
(Pre-refunded
1/01/25)
-
AGC
Insured
1/25
at
100.00
30,828,936
5,220
(c)
6.500%,
1/01/43,
(Pre-refunded
1/01/25)
1/25
at
100.00
5,375,838
15,450
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2008D,
0.000%,
1/01/36
-
AGC
Insured
No
Opt.
Call
10,100,743
5,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
First
Tier,
Series
2017A,
4.000%,
1/01/43
1/28
at
100.00
5,009,288
8,000
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B,
5.000%,
1/01/43
1/27
at
100.00
8,291,622
9,100
North
Texas
Tollway
Authority,
System
Revenue
Bonds,
Refunding
Second
Tier,
Series
2015A,
5.000%,
1/01/32
1/25
at
100.00
9,237,531
3,855
Pasadena
Economic
Development
Corporation,
Harris
County,
Texas,
Sales
Tax
Revenue
Bonds,
Series
2023,
5.000%,
8/15/53
-
BAM
Insured
8/33
at
100.00
4,162,026
1,750
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
1,797,886
5,000
Temple,
Texas,
General
Obligation
Bonds,
Combination
Tax
and
Revenue
Series
2022B,
4.000%,
8/01/47
8/31
at
100.00
4,940,046
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
20
NUV
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Texas
(continued)
$
3,120
Texas
Municipal
Gas
Acquisition
and
Supply
Corporation
I,
Gas
Supply
Revenue
Bonds,
Senior
Lien
Series
2008D,
6.250%,
12/15/26
No
Opt.
Call
$
3,249,459
5,400
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Revenue
Bonds,
NTE
Mobility
Partners
LLC
North
Tarrant
Express
Managed
Lanes
Project,
Refunding
Senior
Lien
Series
2019A,
5.000%,
12/31/35
12/29
at
100.00
5,784,675
3,000
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
First
Tier
Series
2015B,
5.000%,
8/15/37
8/24
at
100.00
3,020,111
1,750
Texas
Transportation
Commission,
Central
Texas
Turnpike
System
Revenue
Bonds,
Refunding
Second
Tier
Series
2015C,
5.000%,
8/15/33
8/24
at
100.00
1,761,034
5,500
Texas
Turnpike
Authority,
Central
Texas
Turnpike
System
Revenue
Bonds,
First
Tier
Series
2002A,
0.000%,
8/15/25
-
AMBAC
Insured
No
Opt.
Call
5,218,202
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2017A
:
12,500
(e)
4.000%,
10/15/42,
(UB)
10/27
at
100.00
12,584,196
1,500
5.000%,
10/15/42
10/27
at
100.00
1,579,836
5,000
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2018B,
5.000%,
10/15/38
10/28
at
100.00
5,438,292
Total
Texas
256,573,073
Utah
-
1.4%
5,345
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2017B,
5.000%,
7/01/42
7/27
at
100.00
5,565,902
3,500
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2018B,
5.000%,
7/01/43
7/28
at
100.00
3,719,726
9,550
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
5.250%,
7/01/48,
(AMT)
7/33
at
100.00
10,282,522
Salt
Lake
County,
Utah,
Sales
Tax
Revenue
Bonds,
TRCC
Series
2017
:
695
5.000%,
2/01/36
2/27
at
100.00
733,186
1,150
5.000%,
2/01/37
2/27
at
100.00
1,208,805
Utah
Associated
Municipal
Power
Systems,
Revenue
Bonds,
Horse
Butte
Wind
Project,
Refunding
Series
2017A
:
1,250
5.000%,
9/01/29
3/28
at
100.00
1,356,854
1,000
5.000%,
9/01/30
3/28
at
100.00
1,084,800
1,250
5.000%,
9/01/31
3/28
at
100.00
1,352,742
660
5.000%,
9/01/32
3/28
at
100.00
712,793
540
Utah
Water
Finance
Agency,
Revenue
Bonds,
Pooled
Loan
Financing
Program,
Series
2017A,
5.000%,
3/01/37
3/27
at
100.00
566,124
Total
Utah
26,583,454
Virginia
-
0.6%
1,805
Chesapeake
Bay
Bridge
and
Tunnel
District,
Virginia,
General
Resolution
Revenue
Bonds,
First
Tier
Series
2016,
5.000%,
7/01/51
7/26
at
100.00
1,809,994
4,355
Tobacco
Settlement
Financing
Corporation
of
Virginia,
Tobacco
Settlement
Asset
Backed
Bonds,
Series
2007B1,
5.000%,
6/01/47
2/24
at
100.00
4,119,623
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017
:
2,000
5.000%,
12/31/47,
(AMT)
6/27
at
100.00
2,020,506
4,100
5.000%,
12/31/49,
(AMT)
6/27
at
100.00
4,133,039
Total
Virginia
12,083,162
21
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Washington
-
4.3%
$
8,825
Central
Puget
Sound
Regional
Transit
Authority,
Washington,
Sales
Tax
and
Motor
Vehicle
Excise
Tax
Bonds,
Refunding
&
Improvement,
Green
Series
2021S-1,
4.000%,
11/01/46
11/31
at
100.00
$
8,856,738
2,235
Pierce
County
School
District
10,
Tacoma,
Washington,
General
Obligation
Bonds,
Series
2020B,
4.000%,
12/01/43
12/30
at
100.00
2,253,971
Port
of
Seattle,
Washington,
Revenue
Bonds,
Refunding
Intermediate
Lien
Series
2016
:
1,930
5.000%,
2/01/29
2/26
at
100.00
2,003,871
1,000
5.000%,
2/01/30
2/26
at
100.00
1,036,700
5,000
Snohomish
County
Public
Utility
District
1,
Washington,
Electric
System
Revenue
Bonds,
Series
2021A,
5.000%,
12/01/51
12/31
at
100.00
5,391,726
Spokane
Public
Facilities
District,
Washington,
Hotel,
Motel,
and
Sales
Use
Tax
Revenue
Bonds,
Series
2017
:
1,175
5.000%,
12/01/38
6/27
at
100.00
1,208,313
5,000
5.000%,
12/01/41
6/27
at
100.00
5,163,783
1,390
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
CommonSpirit
Health,
Series
2019A-1,
4.000%,
8/01/44
8/29
at
100.00
1,335,511
12,000
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2012A,
5.000%,
10/01/33
3/24
at
100.00
12,004,321
1,310
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Virginia
Mason
Medical
Center,
Series
2017,
5.000%,
8/15/30
8/27
at
100.00
1,361,348
6,030
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Series2021B.
Exchange
Purchase,
4.000%,
7/01/37
7/31
at
100.00
5,994,336
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Refunding
Subordinate
Series
2021B.  Exchange
Purchase
:
4,615
4.000%,
7/01/43
7/31
at
100.00
4,385,055
7,830
3.000%,
7/01/48
7/31
at
100.00
5,777,185
Washington
State
Convention
Center
Public
Facilities
District,
Lodging
Tax
Revenue
Bonds,
Series
2018
:
3,240
4.000%,
7/01/58
7/28
at
100.00
2,841,713
3,000
5.000%,
7/01/58
7/28
at
100.00
3,076,661
Washington
State,
Motor
Vehicle
Fuel
Tax
General
Obligation
Bonds,
Series
2002-03C
:
9,100
0.000%,
6/01/29
-
NPFG
Insured
No
Opt.
Call
7,758,040
16,195
0.000%,
6/01/30
-
NPFG
Insured
No
Opt.
Call
13,385,558
Total
Washington
83,834,830
West
Virginia
-
0.7%
1,830
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Cabell
Huntington
Hospital,
Inc.
Project,
Refunding
&
Improvement
Series
2018A,
5.000%,
1/01/34
1/29
at
100.00
1,870,409
2,750
West
Virginia
Hospital
Finance
Authority,
Hospital
Revenue
Bonds,
Charleston
Area
Medical
Center,
Refunding
&
Improvement
Series
2019A,
5.000%,
9/01/38
9/29
at
100.00
2,850,890
3,570
West
Virginia
Parkways
Authority,
Turnpike
Toll
Revenue
Bonds,
Senior
Lien
Series
2018,
5.000%,
6/01/43
6/28
at
100.00
3,768,948
4,135
West
Virginia
Parkways
Authority,
Turnpike
Toll
Revenue
Bonds,
Senior
Lien
Series
2021,
5.000%,
6/01/47
6/31
at
100.00
4,477,442
Total
West
Virginia
12,967,689
Nuveen
Municipal
Value
Fund,
Inc.
(continued)
Portfolio
of
Investments
January
31,
2024
(Unaudited)
22
NUV
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
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).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
Wisconsin
-
0.7%
$
4,974
Public
Finance
Authority
Wisconsin,
Tax
Exempt
Pooled
Securities,
Class
A
Social
Impact
Certificates,
Series
2023-1,
4.000%,
8/01/59,
(Mandatory
Put
7/01/26)
No
Opt.
Call
$
4,931,210
4,410
Wisconsin
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Mercy
Alliance,
Inc.,
Series
2012,
5.000%,
6/01/39
3/24
at
100.00
4,412,764
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Ascension
Health
Alliance
Senior
Credit
Group,
Series
2016A
:
2,870
4.000%,
11/15/46
5/26
at
100.00
2,779,225
935
(c)
4.000%,
11/15/46,
(Pre-refunded
5/15/26)
5/26
at
100.00
954,566
Total
Wisconsin
13,077,765
Total
Municipal
Bonds
(cost
$1,896,526,735)
1,969,005,861
Total
Long-Term
Investments
(cost
$1,896,526,735)
1,969,005,861
Floating
Rate
Obligations
-
(1.1)%
(
21,480,000
)
Other
Assets
&
Liabilities,
Net
-  0.4%
7,774,582
Net
Assets
Applicable
to
Common
Shares
-
100%
$
1,955,300,443
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
1,969,005,861
$
–
$
1,969,005,861
(a)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(b)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(c)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(d)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(e)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
23
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
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.