N-Q 1 nq.htm NPV



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-07490
 
Nuveen Virginia Quality Municipal Income Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Gifford R. Zimmerman
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            5/31          
 
Date of reporting period:         2/28/17         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 
Item 1. Schedule of Investments
 

           
 
 
Portfolio of Investments 
 
 
 
 
 
 
Nuveen Virginia Quality Municipal Income Fund (NPV) 
 
 
 
 
 
February 28, 2017 (Unaudited) 
 
 
 
 
 
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
LONG-TERM INVESTMENTS – 156.2% (100.0% of Total Investments) 
 
 
 
 
 
 
MUNICIPAL BONDS – 156.2% (100.0% of Total Investments) 
 
 
 
 
 
 
Consumer Staples – 6.1% (3.9% of Total Investments) 
 
 
 
 
 
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, 
 
 
 
 
 
Series 2007A: 
 
 
 
$ 630 
 
5.250%, 6/01/32 
6/17 at 100.00 
N/R 
$ 629,906 
700 
 
5.625%, 6/01/47 
6/17 at 100.00 
N/R 
664,986 
8,135 
 
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, 
6/17 at 100.00 
B– 
7,585,480 
 
 
Series 2007B1, 5.000%, 6/01/47 
 
 
 
6,645 
 
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset-Backed Bonds, 
6/17 at 100.00 
B– 
6,373,751 
 
 
Series 2007B2, 5.200%, 6/01/46 
 
 
 
180 
 
Tobacco Settlement Financing Corporation, Virgin Islands, Tobacco Settlement Asset-Backed 
4/17 at 100.00 
A3 
180,031 
 
 
Bonds, Series 2001, 5.000%, 5/15/31 
 
 
 
16,290 
 
Total Consumer Staples 
 
 
15,434,154 
 
 
Education and Civic Organizations – 12.4% (7.9% of Total Investments) 
 
 
 
1,615 
 
Alexandria Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, 
1/22 at 100.00 
A1 
1,640,711 
 
 
Episcopal High School, Series 2012, 3.750%, 1/01/30 
 
 
 
 
 
Alexandria Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, 
 
 
 
 
 
Episcopal High School, Series 2017: 
 
 
 
1,105 
 
4.000%, 1/01/37 
1/27 at 100.00 
A1 
1,134,846 
565 
 
4.000%, 1/01/40 
1/27 at 100.00 
A1 
578,385 
580 
 
Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series 
4/17 at 100.00 
549,347 
 
 
2006, 5.000%, 9/01/26 
 
 
 
1,600 
 
Madison County Industrial Development Authority, Virginia, Educational Facilities Revenue 
10/25 at 100.00 
Aa1 
1,425,536 
 
 
Bonds, Woodberry Forest School, Refunding Series 2016A, 3.000%, 10/01/46 
 
 
 
2,500 
 
The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Green 
4/25 at 100.00 
AAA 
2,868,400 
 
 
Series 2015A-2, 5.000%, 4/01/45 
 
 
 
1,945 
 
The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Refunding 
4/27 at 100.00 
AAA 
2,288,915 
 
 
Series 2017A, 5.000%, 4/01/39 
 
 
 
9,000 
 
The Rector and Visitors of the University of Virginia, General Pledge Revenue Bonds, Series 
4/27 at 100.00 
AAA 
10,557,090 
 
 
2017A, 5.000%, 4/01/42 (UB) (5) 
 
 
 
1,000 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount 
7/25 at 100.00 
BB+ 
1,015,270 
 
 
University Project, Green Series 2015B, 5.000%, 7/01/45 
 
 
 
 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount 
 
 
 
 
 
University Project, Refunding Series 2015A: 
 
 
 
1,500 
 
5.000%, 7/01/35 
7/25 at 100.00 
BB+ 
1,539,525 
3,000 
 
5.000%, 7/01/45 
7/25 at 100.00 
BB+ 
3,045,810 
2,225 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Washington and Lee 
No Opt. Call 
AA 
2,447,122 
 
 
University, Series 2001, 5.375%, 1/01/21 
 
 
 
1,460 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Washington and Lee 
1/25 at 100.00 
AA 
1,643,084 
 
 
University, Series 2015A, 5.000%, 1/01/40 
 
 
 
500 
 
Virginia Small Business Finance Authority, Educational Facilities Revenue Bonds, Roanoke 
4/20 at 100.00 
BBB+ 
552,920 
 
 
College, Series 2011, 5.750%, 4/01/41 
 
 
 
28,595 
 
Total Education and Civic Organizations 
 
 
31,286,961 
 
 
Health Care – 23.2% (14.8% of Total Investments) 
 
 
 
5,000 
 
Arlington County Industrial Development Authority, Virginia, Hospital Facility Revenue Bonds, 
7/20 at 100.00 
AA– 
5,355,000 
 
 
Virginia Hospital Center Arlington Health System, Refunding Series 2010, 5.000%, 7/01/31 
 
 
 
 
 
Charlotte County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Halifax 
 
 
 
 
 
Regional Hospital Incorporated, Series 2007: 
 
 
 
1,545 
 
5.000%, 9/01/27 
9/17 at 100.00 
1,565,440 
250 
 
5.000%, 9/01/37 
9/17 at 100.00 
252,730 
2,145 
 
Chesterfield County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours 
11/20 at 100.00 
AA 
2,320,332 
 
 
Health, Series 2010C-2, 5.000%, 11/01/42 – AGC Insured 
 
 
 
3,375 
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, 
1/23 at 100.00 
BBB+ 
3,571,020 
 
 
Series 2013A, 5.250%, 1/01/40 
 
 
 
1,060 
 
Fairfax County Industrial Development Authority, Virginia, Health Care Revenue Bonds, Inova 
5/19 at 100.00 
AA+ 
1,144,238 
 
 
Health System Project, Series 2009A, 5.500%, 5/15/35 
 
 
 
1,000 
 
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova 
5/22 at 100.00 
AA+ 
1,109,070 
 
 
Health System, Series 2012A, 5.000%, 5/15/40 
 
 
 
3,340 
 
Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova 
5/19 at 100.00 
AA+ 
4,198,113 
 
 
Health System, Tender Option Bond Trust 2016-XG0021, 13.894%, 11/15/29 (IF) 
 
 
 
4,950 
 
Fairfax County Industrial Development Authority, Virginia, Hospital Revenue Refunding Bonds, 
No Opt. Call 
AA+ 
5,683,145 
 
 
Inova Health System, Series 1993A, 5.000%, 8/15/23 
 
 
 
 
 
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, 
 
 
 
 
 
MediCorp Health System, Series 2007: 
 
 
 
1,080 
 
5.250%, 6/15/18 
No Opt. Call 
Baa1 
1,124,496 
2,500 
 
5.250%, 6/15/23 
No Opt. Call 
Baa1 
2,813,150 
300 
 
Hanover County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Memorial 
No Opt. Call 
AA– 
310,248 
 
 
Regional Medical Center, Series 1995, 6.375%, 8/15/18 – NPFG Insured 
 
 
 
1,500 
 
Henrico County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Bon 
No Opt. Call 
AA– 
1,627,020 
 
 
Secours Health System, Series 1996, 6.250%, 8/15/20 – NPFG Insured 
 
 
 
3,500 
 
Industrial Development Authority of the City of Newport News, Virginia, Health System Revenue 
7/25 at 100.00 
N/R 
3,540,600 
 
 
Bonds, Riverside Health System, Series 2015A, 5.330%, 7/01/45 
 
 
 
3,155 
 
Prince William County Industrial Development Authority, Virginia, Health Care Facilities 
11/22 at 100.00 
AA– 
3,393,139 
 
 
Revenue Bonds, Novant Health Obligated Group-Prince William Hospital, Refunding Series 2013B, 
 
 
 
 
 
5.000%, 11/01/46 
 
 
 
 
 
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, 
 
 
 
 
 
Mary Washington Healthcare Obligated Group, Refunding Series 2016: 
 
 
 
1,440 
 
5.000%, 6/15/35 
6/26 at 100.00 
Baa1 
1,577,750 
1,360 
 
4.000%, 6/15/37 
6/26 at 100.00 
Baa1 
1,365,182 
2,975 
 
Virginia Small Business Finance Authority, Healthcare Facilities Revenue Bonds, Sentara 
5/20 at 100.00 
AA 
3,214,755 
 
 
Healthcare, Refunding Series 2010, 5.000%, 11/01/40 
 
 
 
4,425 
 
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds, 
9/17 at 100.00 
BBB+ 
4,475,534 
 
 
Series 2007A, 5.250%, 9/01/37 
 
 
 
2,335 
 
Winchester Economic Development Authority, Virginia, Hospital Revenue Bonds, Valley Health 
1/24 at 100.00 
A+ 
2,546,364 
 
 
System Obligated Group, Refunding Series 2014A, 5.000%, 1/01/44 
 
 
 
 
 
Winchester Economic Development Authority, Virginia, Hospital Revenue Bonds, Valley Health 
 
 
 
 
 
System Obligated Group, Refunding Series 2015: 
 
 
 
1,500 
 
5.000%, 1/01/33 
1/26 at 100.00 
A+ 
1,692,885 
1,000 
 
5.000%, 1/01/35 
1/26 at 100.00 
A+ 
1,120,440 
2,000 
 
4.000%, 1/01/37 
1/26 at 100.00 
A+ 
2,078,500 
1,215 
 
5.000%, 1/01/44 
1/26 at 100.00 
A+ 
1,334,094 
1,020 
 
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, 
4/20 at 100.00 
A+ 
1,102,885 
 
 
Inc., Series 2010A, 5.625%, 4/15/39 
 
 
 
53,970 
 
Total Health Care 
 
 
58,516,130 
 
 
Housing/Multifamily – 5.1% (3.3% of Total Investments) 
 
 
 
845 
 
Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage 
6/17 at 100.00 
AA 
847,704 
 
 
Revenue Bonds, Arlington View Terrace Apartments, Series 2001, 5.150%, 11/01/31 (Mandatory 
 
 
 
 
 
put 11/01/19) (Alternative Minimum Tax) 
 
 
 
400 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010A, 5.000%, 4/01/45 
10/19 at 100.00 
AA+ 
411,428 
530 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2010C, 4.550%, 8/01/32 
2/20 at 100.00 
AA+ 
558,583 
1,000 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2012A, 3.625%, 3/01/32 
3/21 at 100.00 
AA+ 
1,011,170 
 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2015A: 
 
 
 
1,000 
 
3.500%, 3/01/35 
3/24 at 100.00 
AA+ 
977,740 
1,000 
 
3.625%, 3/01/39 
3/24 at 100.00 
AA+ 
993,240 
900 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2015C, 4.000%, 8/01/45 
8/24 at 100.00 
AA+ 
913,275 
2,750 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2015E, 3.750%, 12/01/40 
12/24 at 100.00 
AA+ 
2,785,035 
 
 
Virginia Housing Development Authority, Rental Housing Bonds, Series 2016B: 
 
 
 
1,500 
 
3.350%, 5/01/36 
5/25 at 100.00 
AA+ 
1,454,415 
1,500 
 
3.550%, 5/01/41 
5/25 at 100.00 
AA+ 
1,468,905 
1,380 
 
Waynesboro Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds, 
4/20 at 100.00 
AA+ 
1,422,794 
 
 
Epworth Manor, GNMA Collateralized Series 2010, 5.000%, 10/20/51 
 
 
 
12,805 
 
Total Housing/Multifamily 
 
 
12,844,289 
 
 
Housing/Single Family – 2.6% (1.7% of Total Investments) 
 
 
 
 
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-5: 
 
 
 
2,500 
 
4.550%, 7/01/31 
10/22 at 100.00 
AAA 
2,671,475 
2,000 
 
4.800%, 7/01/38 
10/22 at 100.00 
AAA 
2,114,280 
 
 
Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2012C-8: 
 
 
 
715 
 
4.400%, 10/01/31 
10/22 at 100.00 
AAA 
754,468 
1,000 
 
4.750%, 10/01/38 
10/22 at 100.00 
AAA 
1,052,050 
6,215 
 
Total Housing/Single Family 
 
 
6,592,273 
 
 
Long-Term Care – 4.3% (2.7% of Total Investments) 
 
 
 
 
 
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage 
 
 
 
 
 
Revenue Bonds, Goodwin House, Inc., Series 2016A: 
 
 
 
1,125 
 
5.000%, 10/01/36 
10/24 at 102.00 
N/R 
1,215,709 
2,375 
 
5.000%, 10/01/42 
10/24 at 102.00 
N/R 
2,544,955 
700 
 
4.000%, 10/01/42 
10/24 at 102.00 
N/R 
681,366 
875 
 
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue 
10/20 at 100.00 
BBB+ 
878,465 
 
 
Bonds, Westminster Canterbury of Richmond, Refunding Series 2015, 4.000%, 10/01/35 
 
 
 
 
 
Lexington Industrial Development Authority, Virginia, Residential Care Facility Revenue Bonds, 
 
 
 
 
 
Kendal at Lexington Retirement Community Inc., Refunding Series 2016: 
 
 
 
1,000 
 
4.000%, 1/01/37 
1/25 at 102.00 
N/R 
960,180 
150 
 
3.375%, 1/01/37 
1/25 at 102.00 
N/R 
129,605 
2,000 
 
Prince William County Industrial Development Authority, Virginia, Residential Care Facility 
1/25 at 102.00 
N/R 
2,011,140 
 
 
Revenue Bonds, Westminster at Lake Ridge, Refunding Series 2016, 5.000%, 1/01/46 
 
 
 
1,000 
 
Roanoke Economic Development Authority, Virginia, Residential Care Facility Mortgage Revenue 
12/22 at 100.00 
N/R 
961,210 
 
 
Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012, 4.625%, 12/01/27 
 
 
 
1,500 
 
Roanoke Industrial Development Authority, Virginia, Residential Revenue Bonds, Virginia 
4/17 at 100.00 
N/R 
1,372,815 
 
 
Lutheran Homes Incorporated, Series 2006, 5.000%, 12/01/39 
 
 
 
10,725 
 
Total Long-Term Care 
 
 
10,755,445 
 
 
Tax Obligation/General – 4.6% (2.9% of Total Investments) 
 
 
 
1,440 
 
Bristol, Virginia, General Obligation Bonds, Refunding & Improvement Series 2010, 
7/20 at 100.00 
1,570,190 
 
 
5.000%, 7/15/25 
 
 
 
2,000 
 
Fairfax County, Virginia, General Obligation Bonds, Public Improvement Series 2015A, 
No Opt. Call 
AAA 
2,203,320 
 
 
5.000%, 10/01/19 
 
 
 
 
 
Fairfax County, Virginia, General Obligation Bonds, Public Improvement Series 2017A: 
 
 
 
2,000 
 
5.000%, 10/01/18 
No Opt. Call 
AAA 
2,131,420 
2,000 
 
5.000%, 10/01/19 
No Opt. Call 
AAA 
2,203,320 
1,900 
 
Fairfax County, Virginia, General Obligation Bonds, Refunding Public Improvement Series 2015C, 
No Opt. Call 
AAA 
2,024,849 
 
 
5.000%, 10/01/18 
 
 
 
150 
 
Portsmouth, Virginia, General Obligation Bonds, Refunding Series 2010D, 5.000%, 7/15/34 
7/20 at 100.00 
AA 
165,744 
1,250 
 
Richmond, Virginia, General Obligation Bonds, Refunding Public Improvement Series 2014A, 
No Opt. Call 
AA+ 
1,350,050 
 
 
5.000%, 3/01/19 
 
 
 
10,740 
 
Total Tax Obligation/General 
 
 
11,648,893 
 
 
Tax Obligation/Limited – 23.2% (14.9% of Total Investments) 
 
 
 
 
 
Buena Vista Public Recreational Facilities Authority, Virginia, Lease Revenue Bonds, Golf 
 
 
 
 
 
Course Project, Series 2005A: 
 
 
 
510 
 
5.250%, 7/15/25 – ACA Insured 
4/17 at 100.00 
N/R 
482,746 
520 
 
5.500%, 7/15/35 – ACA Insured 
4/17 at 100.00 
N/R 
483,486 
315 
 
Cumberland County, Virginia, Certificates of Participation, Series 1997, 6.375%, 7/15/17 
No Opt. Call 
N/R 
318,219 
600 
 
Dulles Town Center Community Development Authority, Loudon County, Virginia Special 
3/22 at 100.00 
N/R 
601,314 
 
 
Assessment Refunding Bonds, Dulles Town Center Project, Series 2012, 4.250%, 3/01/26 
 
 
 
100 
 
Embrey Mill Community Development Authority, Virginia, Special Assessment Revenue Bonds, 
3/25 at 100.00 
N/R 
99,999 
 
 
Series 2015, 5.600%, 3/01/45 
 
 
 
1,500 
 
Fairfax County Economic Development Authority, Virginia, Revenue Bonds, Metrorail Parking 
4/27 at 100.00 
AA+ 
1,723,755 
 
 
System Project, Series 2017, 5.000%, 4/01/42 (WI/DD, Settling 3/08/17) 
 
 
 
1,275 
 
Fairfax County Economic Development Authority, Virginia, Transportation Contract Revenue 
4/26 at 100.00 
AA+ 
1,134,202 
 
 
Bonds, Route 28 Project, Refunding Series 2016B, 3.000%, 4/01/37 
 
 
 
 
 
Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D: 
 
 
 
3,000 
 
5.000%, 11/15/32 
11/25 at 100.00 
3,164,490 
3,000 
 
5.000%, 11/15/34 
11/25 at 100.00 
3,139,980 
 
 
Government of Guam, Business Privilege Tax Bonds, Series 2011A: 
 
 
 
1,020 
 
5.000%, 1/01/31 
1/22 at 100.00 
1,056,720 
500 
 
5.250%, 1/01/36 
1/22 at 100.00 
521,865 
925 
 
Greater Richmond Convention Center Authority, Virginia, Hotel Tax Revenue Bonds, Refunding 
No Opt. Call 
AA– 
1,004,587 
 
 
Series 2015, 5.000%, 6/15/19 
 
 
 
 
 
Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2016A: 
 
 
 
1,000 
 
5.000%, 12/01/34 
12/26 at 100.00 
BBB+ 
1,070,890 
1,675 
 
5.000%, 12/01/46 
12/26 at 100.00 
BBB+ 
1,786,806 
645 
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%, 
No Opt. Call 
CC 
682,320 
 
 
7/01/29 – AMBAC Insured 
 
 
 
 
 
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A: 
 
 
 
5,085 
 
0.000%, 7/01/29 – AMBAC Insured 
No Opt. Call 
2,442,681 
5,000 
 
0.000%, 7/01/43 – AMBAC Insured 
No Opt. Call 
990,900 
5,875 
 
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C, 
No Opt. Call 
2,994,899 
 
 
0.000%, 7/01/28 – AMBAC Insured 
 
 
 
10,000 
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 
No Opt. Call 
AA– 
2,492,300 
 
 
8/01/41 – NPFG Insured 
 
 
 
760 
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Refunding Series 
No Opt. Call 
AA– 
819,873 
 
 
2007CC, 5.500%, 7/01/28 – NPFG Insured 
 
 
 
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 
No Opt. Call 
AA– 
5,219 
 
 
5.500%, 7/01/18 – NPFG Insured 
 
 
 
1,000 
 
Stafford County Economic Development Authority, Virginia, Public Project Lease Revenue Bonds, 
4/18 at 100.00 
AA+ 
1,036,690 
 
 
Series 2008, 5.000%, 4/01/33 – AGC Insured (UB) 
 
 
 
1,500 
 
Virgin Islands Public Finance Authority, Federal Highway Grant Anticipation Loan Note Revenue 
9/25 at 100.00 
1,630,950 
 
 
Bonds, Series 2015, 5.000%, 9/01/30 
 
 
 
2,240 
 
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Working Capital 
10/24 at 100.00 
AA 
2,370,301 
 
 
Series 2014A, 5.000%, 10/01/34 – AGM Insured 
 
 
 
2,600 
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien, 
No Opt. Call 
AA 
2,947,880 
 
 
Refunding Series 2013B, 5.000%, 10/01/24 – AGM Insured 
 
 
 
1,000 
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien, 
No Opt. Call 
AA 
1,082,920 
 
 
Series 2013A, 5.000%, 10/01/24 – AGM Insured 
 
 
 
1,725 
 
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2012A, 
10/22 at 100.00 
AA 
1,807,076 
 
 
5.000%, 10/01/32 – AGM Insured 
 
 
 
1,200 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century 
2/21 at 100.00 
AA+ 
1,268,640 
 
 
College Program, Series 2011A, 4.000%, 2/01/29 
 
 
 
1,100 
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Refunding Series 
8/22 at 100.00 
AA+ 
1,283,513 
 
 
2012A, 5.000%, 8/01/24 
 
 
 
2,000 
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2015A, 
8/25 at 100.00 
AA+ 
2,402,800 
 
 
5.000%, 8/01/26 
 
 
 
2,970 
 
Virginia Public School Authority, School Financing Bonds, 1997 Resolution, Series 2016A, 
No Opt. Call 
AA+ 
3,025,777 
 
 
5.000%, 8/01/17 
 
 
 
1,840 
 
Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Financing Program, Series 
11/22 at 100.00 
AAA 
2,092,338 
 
 
2012A, 5.000%, 11/01/42 
 
 
 
95 
 
Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Loan Bond Program, Series 
4/17 at 100.00 
AA 
95,354 
 
 
2002A, 5.000%, 5/01/19 
 
 
 
1,000 
 
Virginia Transportation Board, Transportation Revenue Bonds, Capital Projects, Series 2012, 
5/22 at 100.00 
AA+ 
1,042,010 
 
 
4.000%, 5/15/37 
 
 
 
3,500 
 
Virginia Transportation Board, Transportation Revenue Bonds, Capital Projects, Series 2014, 
5/24 at 100.00 
AA+ 
3,739,470 
 
 
4.000%, 5/15/31 
 
 
 
1,220 
 
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor 
No Opt. Call 
AA+ 
1,231,736 
 
 
Development Program, Series 2007B, 5.000%, 5/15/17 
 
 
 
2,500 
 
Virginia Transportation Board, Transportation Revenue Bonds, U.S. Route 58 Corridor 
No Opt. Call 
AA+ 
2,524,050 
 
 
Development Program, Series 2014B, 5.000%, 5/15/17 
 
 
 
1,835 
 
Western Virginia Regional Jail Authority, Virginia, Facility Revenue Bonds, Refunding Series 
12/26 at 100.00 
Aa2 
2,099,956 
 
 
2016, 5.000%, 12/01/36 
 
 
 
72,635 
 
Total Tax Obligation/Limited 
 
 
58,698,712 
 
 
Transportation – 32.1% (20.6% of Total Investments) 
 
 
 
 
 
Capital Region Airport Commission, Virginia, Airport Revenue Bonds, Refunding Series 2016A: 
 
 
 
775 
 
5.000%, 7/01/32 
7/26 at 100.00 
A2 
886,840 
350 
 
4.000%, 7/01/36 
7/26 at 100.00 
A2 
365,250 
650 
 
4.000%, 7/01/38 
7/26 at 100.00 
A2 
677,788 
 
 
Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First 
 
 
 
 
 
Tier Series 2016: 
 
 
 
2,945 
 
5.000%, 7/01/41 – AGM Insured 
7/26 at 100.00 
AA 
3,276,902 
7,080 
 
5.000%, 7/01/46 
7/26 at 100.00 
BBB 
7,748,351 
 
 
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital 
 
 
 
 
 
Appreciation Series 2012B: 
 
 
 
2,000 
 
0.000%, 7/15/32 (4) 
7/28 at 100.00 
BBB 
1,585,760 
4,125 
 
0.000%, 7/15/40 (4) 
7/28 at 100.00 
BBB 
3,187,388 
1,000 
 
0.000%, 7/15/40 – AGM Insured (4) 
7/28 at 100.00 
AA 
791,420 
750 
 
Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, Refunding 
10/20 at 100.00 
AA– 
822,128 
 
 
Series 2010B, 5.000%, 10/01/26 (Alternative Minimum Tax) 
 
 
 
2,500 
 
Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, Series 
10/17 at 100.00 
AA– 
2,549,675 
 
 
2007B, 5.000%, 10/01/35 – AMBAC Insured (Alternative Minimum Tax) 
 
 
 
 
 
Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, 
 
 
 
 
 
Series 2009C: 
 
 
 
1,380 
 
5.250%, 10/01/22 
10/18 at 100.00 
AA– 
1,466,540 
1,200 
 
5.000%, 10/01/28 
10/18 at 100.00 
AA– 
1,268,184 
 
 
Metropolitan Washington Airports Authority, Virginia, Airport System Revenue Bonds, 
 
 
 
 
 
Series 2010A: 
 
 
 
3,400 
 
5.000%, 10/01/30 
10/20 at 100.00 
AA– 
3,767,948 
420 
 
5.000%, 10/01/35 
10/20 at 100.00 
AA– 
462,836 
5,800 
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles 
4/22 at 100.00 
BBB+ 
6,053,576 
 
 
Metrorail & Capital Improvement Project, Refunding Second Senior Lien Series 2014A, 
 
 
 
 
 
5.000%, 10/01/53 
 
 
 
6,700 
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles 
10/28 at 100.00 
BBB+ 
7,473,179 
 
 
Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 0.000%, 10/01/44 (4) 
 
 
 
 
 
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien 
 
 
 
 
 
Revenue Bonds, Series 2009B: 
 
 
 
4,000 
 
0.000%, 10/01/26 – AGC Insured 
No Opt. Call 
AA 
2,849,440 
11,825 
 
0.000%, 10/01/34 – AGC Insured 
No Opt. Call 
AA 
5,629,173 
1,135 
 
0.000%, 10/01/36 – AGC Insured 
No Opt. Call 
AA 
486,245 
5,010 
 
0.000%, 10/01/39 – AGC Insured 
No Opt. Call 
AA 
1,893,580 
7,300 
 
Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding 
10/26 at 100.00 
AA– 
8,210,747 
 
 
Series 2016A, 5.000%, 10/01/35 (Alternative Minimum Tax) 
 
 
 
745 
 
New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, 
8/21 at 100.00 
BB– 
777,065 
 
 
American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016, 
 
 
 
 
 
5.000%, 8/01/31 (Alternative Minimum Tax) 
 
 
 
395 
 
Peninsula Ports Authority of Virginia, Coal Terminal Revenue Bonds, Dominion Terminal 
No Opt. Call 
BBB+ 
393,140 
 
 
Associates Project-DETC Issue, Refunding Series 2003, 1.550%, 10/01/33 (Mandatory put 10/01/19) 
 
 
 
3,000 
 
Richmond Metropolitan Authority, Virginia, Revenue Refunding Bonds, Expressway System, Series 
No Opt. Call 
AA– 
3,366,690 
 
 
2002, 5.250%, 7/15/22 – FGIC Insured 
 
 
 
2,500 
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC 
1/22 at 100.00 
BBB– 
2,571,425 
 
 
Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax) 
 
 
 
 
 
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River 
 
 
 
 
 
Crossing, Opco LLC Project, Series 2012: 
 
 
 
750 
 
5.250%, 1/01/32 (Alternative Minimum Tax) 
7/22 at 100.00 
BBB 
805,650 
5,025 
 
6.000%, 1/01/37 (Alternative Minimum Tax) 
7/22 at 100.00 
BBB 
5,643,678 
5,700 
 
5.500%, 1/01/42 (Alternative Minimum Tax) 
7/22 at 100.00 
BBB 
6,109,488 
88,460 
 
Total Transportation 
 
 
81,120,086 
 
 
U.S. Guaranteed – 30.1% (19.3% of Total Investments) (6) 
 
 
 
1,750 
 
Bristol, Virginia, General Obligation Utility System Revenue Bonds, Series 2002, 5.000%, 
No Opt. Call 
AA (6) 
2,022,615 
 
 
11/01/24 – AGM Insured (ETM) 
 
 
 
1,000 
 
Bristol, Virginia, Utility System Revenue Refunding Bonds, Series 2001, 5.000%, 7/15/21 – AGM 
No Opt. Call 
AA (6) 
1,084,080 
 
 
Insured (ETM) 
 
 
 
1,030 
 
Chesapeake Bay Bridge and Tunnel Commission, Virginia, General Resolution Revenue Bonds, 
No Opt. Call 
AA– (6) 
1,248,133 
 
 
Refunding Series 1998, 5.500%, 7/01/25 – NPFG Insured (ETM) 
 
 
 
5,585 
 
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage 
10/17 at 100.00 
BBB (6) 
5,731,271 
 
 
Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/37 (Pre-refunded 10/01/17) 
 
 
 
4,150 
 
Fairfax County Economic Development Authority, Virginia, Transportation District Improvement 
4/20 at 100.00 
Aaa 
4,631,193 
 
 
Revenue Bonds, Silver Line Phase 1 Project, Series 2011, 5.000%, 4/01/27 (Pre-refunded 4/01/20) 
 
 
 
1,100 
 
Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.375%, 12/01/24 
12/19 at 100.00 
BBB+ (6) 
1,223,838 
 
 
(Pre-refunded 12/01/19) 
 
 
 
1,295 
 
Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Series 2012A, 5.000%, 
1/21 at 100.00 
N/R (6) 
1,473,969 
 
 
1/01/39 (Pre-refunded 1/01/21) 
 
 
 
1,000 
 
Lexington Industrial Development Authority, Virginia, Educational Facilities Revenue Bonds, 
6/19 at 100.00 
Aa2 (6) 
1,088,220 
 
 
VMI Development Board Project, Series 2006C, 5.000%, 12/01/36 (Pre-refunded 6/01/19) 
 
 
 
890 
 
Montgomery County Industrial Development Authority, Virginia, Public Facility Lease Revenue 
2/18 at 100.00 
Aa2 (6) 
924,523 
 
 
Bonds, Public Projects Series 2008, 5.000%, 2/01/29 (Pre-refunded 2/01/18) 
 
 
 
5,900 
 
Portsmouth, Virginia, General Obligation Bonds, Refunding Series 2010D, 5.000%, 7/15/34 
7/20 at 100.00 
N/R (6) 
6,639,211 
 
 
(Pre-refunded 7/15/20) 
 
 
 
1,630 
 
Prince William County Industrial Development Authority, Virginia, Student Housing Revenue 
9/21 at 100.00 
A (6) 
1,886,872 
 
 
Bonds, George Mason University Foundation Prince William Housing LLC Project, Series 2011A, 
 
 
 
 
 
5.125%, 9/01/41 (Pre-refunded 9/01/21) 
 
 
 
145 
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 
No Opt. Call 
A3 (6) 
153,874 
 
 
5.500%, 7/01/18 – NPFG Insured (ETM) 
 
 
 
710 
 
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB, 
No Opt. Call 
A2 (6) 
840,967 
 
 
5.250%, 7/01/22 – AGM Insured (ETM) 
 
 
 
1,000 
 
Richmond, Virginia, General Obligation Bonds, Public Improvement Series 2009A, 5.000%, 7/15/22 
7/19 at 100.00 
AA+ (6) 
1,091,740 
 
 
(Pre-refunded 7/15/19) 
 
 
 
4,000 
 
Stafford County Economic Development Authority, Virginia, Public Project Lease Revenue Bonds, 
4/18 at 100.00 
AA (6) 
4,182,000 
 
 
Series 2008, 5.000%, 4/01/33 – AGC Insured (Pre-refunded 4/01/18) (UB) 
 
 
 
8,500 
 
The Rector and Visitors of the University of Virginia, General Revenue Bonds, Series 2008, 
6/18 at 100.00 
AAA 
8,945,056 
 
 
5.000%, 6/01/40 (Pre-refunded 6/01/18) 
 
 
 
 
 
Virginia Beach, Virginia, General Obligation Bonds, Series 2008: 
 
 
 
4,500 
 
5.000%, 10/01/26 (Pre-refunded 10/01/17) (UB) 
10/17 at 100.00 
AAA 
4,615,110 
4,500 
 
5.000%, 10/01/27 (Pre-refunded 10/01/17) (UB) 
10/17 at 100.00 
AAA 
4,615,110 
1,665 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century 
2/19 at 100.00 
AA+ (6) 
2,048,949 
 
 
College Program, Tender Option Bond Trust 2016-XL0011, 12.531%, 2/01/27 (Pre-refunded 
 
 
 
 
 
2/01/19) (IF) (5) 
 
 
 
1,665 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century 
2/19 at 100.00 
AA+ (6) 
2,046,934 
 
 
College Program, Tender Option Bond Trust 2016-XL0013, 12.531%, 2/01/28 (Pre-refunded 
 
 
 
 
 
2/01/19) (IF) (5) 
 
 
 
1,820 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century 
2/19 at 100.00 
AA+ (6) 
1,959,758 
 
 
College Program, Series 2009A, 5.000%, 2/01/22 (Pre-refunded 2/01/19) 
 
 
 
 
 
Virginia College Building Authority, Educational Facilities Revenue Bonds, Public Higher 
 
 
 
 
 
Education Financing Program, Series 2009A: 
 
 
 
30 
 
5.000%, 9/01/28 (Pre-refunded 9/01/18) 
9/18 at 100.00 
N/R (6) 
31,865 
3,570 
 
5.000%, 9/01/28 (Pre-refunded 9/01/18) 
9/18 at 100.00 
Aa1 (6) 
3,791,911 
3,195 
 
Virginia Port Authority, Port Facilities Revenue Bonds, Refunding Series 2010, 5.000%, 7/01/40 
7/19 at 100.00 
Aa3 (6) 
3,486,128 
 
 
(Pre-refunded 7/01/19) 
 
 
 
3,050 
 
Virginia State Resources Authority, Clean Water Revenue Bonds, Series 2007, Trust 3036, 
10/17 at 100.00 
Aaa 
3,486,882 
 
 
12.029%, 10/01/29 (Pre-refunded 10/01/17) (IF) 
 
 
 
1,000 
 
Virginia Resources Authority, Clean Water State Revolving Fund Revenue Bonds, Series 2008, 
10/18 at 100.00 
AAA 
1,065,540 
 
 
5.000%, 10/01/19 (Pre-refunded 10/01/18) 
 
 
 
3,420 
 
Virginia Resources Authority, Infrastructure Revenue Bonds, Pooled Financing Program, Series 
11/22 at 100.00 
N/R (6) 
4,050,340 
 
 
2012A, 5.000%, 11/01/42 (Pre-refunded 11/01/22) 
 
 
 
1,620 
 
Winchester Industrial Development Authority, Virginia, Hospital Revenue Bonds Valley Health 
1/19 at 100.00 
A+ (6) 
1,756,987 
 
 
System Obligated Group, Series 2009E, 5.625%, 1/01/44 (Pre-refunded 1/01/19) 
 
 
 
69,720 
 
Total U.S. Guaranteed 
 
 
76,123,076 
 
 
Utilities – 6.2% (3.9% of Total Investments) 
 
 
 
700 
 
Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
B1 
636,454 
 
 
Refunding Bonds, FirstEnergy Generation Project, Series 2008B, 4.250%, 10/01/47 (Mandatory 
 
 
 
 
 
put 4/01/21) 
 
 
 
1,300 
 
Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
B1 
1,182,701 
 
 
Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A, 4.375%, 1/01/35 
 
 
 
 
 
(Mandatory put 7/01/22) 
 
 
 
 
 
Guam Power Authority, Revenue Bonds, Series 2012A: 
 
 
 
1,550 
 
5.000%, 10/01/30 – AGM Insured 
10/22 at 100.00 
AA 
1,735,551 
495 
 
5.000%, 10/01/34 
10/22 at 100.00 
BBB 
516,038 
655 
 
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2007UU, 5.000%, 7/01/19 – 
No Opt. Call 
AA– 
678,665 
 
 
NPFG Insured 
 
 
 
 
 
Richmond, Virginia, Public Utility Revenue Bonds, Refunding Series 2016A: 
 
 
 
5,000 
 
5.000%, 1/15/33 
1/26 at 100.00 
AA 
5,808,200 
1,000 
 
5.000%, 1/15/35 
1/26 at 100.00 
AA 
1,152,350 
730 
 
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 
7/17 at 100.00 
BB– 
532,747 
 
 
2007A, 5.000%, 7/01/24 
 
 
 
3,250 
 
York County Economic Development Authority, Virginia, Pollution Control Revenue Bonds, 
No Opt. Call 
A2 
3,288,188 
 
 
Virginia Electric and Power Company Project, Refunding Series 2009A, 1.875%, 5/01/33 
 
 
 
 
 
(Mandatory put 5/16/19) 
 
 
 
14,680 
 
Total Utilities 
 
 
15,530,894 
 
 
Water and Sewer – 6.3% (4.1% of Total Investments) 
 
 
 
1,395 
 
Fairfax County, Virginia, Sewer Revenue Bonds, Series 2012, 5.000%, 7/15/18 
No Opt. Call 
AAA 
1,475,505 
810 
 
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, 
7/23 at 100.00 
A– 
888,343 
 
 
Series 2013, 5.500%, 7/01/43 
 
 
 
5,205 
 
Hampton Roads Sanitation District, Virginia, Wastewater Revenue Bonds, Series 2012A, 
1/21 at 100.00 
AA+ 
5,730,809 
 
 
5.000%, 1/01/39 
 
 
 
 
 
Henry County Public Service Authority, Virginia, Water and Sewerage Revenue Refunding Bonds, 
 
 
 
 
 
Series 2001: 
 
 
 
650 
 
5.500%, 11/15/17 – AGM Insured 
No Opt. Call 
AA 
669,299 
3,000 
 
5.500%, 11/15/19 – AGM Insured 
No Opt. Call 
AA 
3,276,960 
3,000 
 
Norfolk, Virginia, Water Revenue Bonds, Series 2015A, 5.250%, 11/01/44 
11/24 at 100.00 
AA+ 
3,452,910 
1,000 
 
Virginia Resources Authority, Water and Sewerage System Revenue Bonds, Goochland County – 
11/22 at 63.13 
AA 
530,450 
 
 
Tuckahoe Creek Service District Project, Series 2012, 0.000%, 11/01/34 
 
 
 
15,060 
 
Total Water and Sewer 
 
 
16,024,276 
$ 399,895 
 
Total Long-Term Investments (cost $379,724,829) 
 
 
394,575,189 
 
 
Floating Rate Obligations – (6.3)% 
 
 
(16,000,000) 
 
 
Variable Rate Demand Preferred Shares, net of deferred offering costs – (50.5)% (7) 
 
 
(127,598,814) 
 
 
Other Assets Less Liabilities – 0.6% 
 
 
1,557,174 
 
 
Net Assets Applicable to Common Shares – 100% 
 
 
$ 252,533,549 

 

Fair Value Measurements
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. A three-tier hierarchy 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 the reporting entity’s own 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, prepayment speeds, credit risk, etc.).
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
         
 
Level 1 
Level 2 
Level 3 
Total 
Long-Term Investments: 
 
 
 
 
Municipal Bonds 
$ — 
$394,575,189 
$ — 
$394,575,189 
 
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
As of February 28, 2017, the cost of investments was $363,401,163.
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2017, were as follows:
   
Gross unrealized: 
 
Appreciation 
$19,458,815 
Depreciation 
(4,284,804) 
Net unrealized appreciation (depreciation) of investments 
$15,174,011 
 
(1) 
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to common 
 
 
shares unless otherwise noted. 
(2) 
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
 
 
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
 
 
may be subject to periodic principal paydowns. 
(3) 
 
For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group 
 
 
(“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This 
 
 
treatment of split-rated securities may differ from that used for other purposes, such as for Fund 
 
 
investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are 
 
 
considered to be below investment grade. Holdings designated N/R are not rated by any of these national 
 
 
rating agencies. 
(4) 
 
Step-up coupon. The rate shown is the coupon as of the end of the reporting period. 
(5) 
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for 
 
 
investments in inverse floating rate obligations. 
(6) 
 
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. Certain bonds backed by U.S. Government or 
 
 
agency securities are regarded as having an implied rating equal to the rating of such securities. 
(7) 
 
Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total 
 
 
Investments is 32.3%. 
(ETM) 
 
Escrowed to maturity. 
(IF) 
 
Inverse floating rate investment. 
(UB) 
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 
(WI/DD) 
 
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. 
 

 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 

 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Virginia Quality Municipal Income Fund 
 
By (Signature and Title) /s/ Gifford R. Zimmerman            
       Gifford R. Zimmerman
     Vice President and Secretary
                                         
Date:         April 28, 2017        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title) /s/ Cedric H. Antosiewicz            
       Cedric H. Antosiewicz
     Chief Administrative Officer (principal executive officer)
                        
Date:         April 28, 2017        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         April 28, 2017