N-Q 1 d626528dnq.htm NUVEEN CONNECTICUT QUALITY MUNICIPAL INCOME FUND Nuveen Connecticut Quality Municipal Income Fund

 

 

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 811-07606

Nuveen Connecticut 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:       May 31      

Date of reporting period: August 31, 2018

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

 

 

NTC
Nuveen Connecticut Quality Municipal Income Fund
Portfolio of Investments    August 31, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 159.0% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 159.0% (100.0% of Total Investments)        
    Education and Civic Organizations – 15.8% (9.9% of Total Investments)        
$ 4,250   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut College, Refunding Series 2016L-1, 4.000%, 7/01/46   7/26 at 100.00 A2 $4,269,677
1,150   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut College, Series 2011H, 5.000%, 7/01/41   7/21 at 100.00 A2 1,222,657
5,565   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2016Q-1, 5.000%, 7/01/46   7/26 at 100.00 A- 6,127,621
1,510   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffee School, Series 2005F, 5.250%, 7/01/19  –  AMBAC Insured   No Opt. Call A2 1,553,805
1,125   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Norwich Free Academy, Series 2013B, 4.000%, 7/01/34   7/23 at 100.00 A1 1,145,216
7,030   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L, 5.000%, 7/01/45   7/25 at 100.00 A- 7,664,739
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2016M:        
500   5.000%, 7/01/34   7/26 at 100.00 A- 560,355
1,500   5.000%, 7/01/36   7/26 at 100.00 A- 1,672,290
2,645   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2017I-1, 5.000%, 7/01/42   7/27 at 100.00 A 2,948,038
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Loomis Chaffee School Issue, Series 2011-I:        
560   5.000%, 7/01/23  –  AGM Insured   7/21 at 100.00 A2 601,070
225   5.000%, 7/01/24  –  AGM Insured   7/21 at 100.00 A2 241,119
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of New Haven, Series 2018K-1:        
1,000   5.000%, 7/01/37   7/28 at 100.00 BBB 1,099,270
1,250   5.000%, 7/01/38   7/28 at 100.00 BBB 1,369,788
515   University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/27   11/19 at 100.00 AA- 533,875
28,825   Total Education and Civic Organizations       31,009,520
    Health Care – 34.4% (21.6% of Total Investments)        
5,500   Connecticut Health and Educational Facilities Authority Revenue Bonds, Hartford HealthCare, Series 2015F, 5.000%, 7/01/45   7/25 at 100.00 A 5,927,350
4,540   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40   11/19 at 100.00 AA+ 4,685,643
1

NTC Nuveen Connecticut Quality Municipal Income Fund (continued)
  Portfolio of Investments August 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Health Care (continued)        
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B:        
$ 350   5.500%, 7/01/21  –  RAAI Insured   11/18 at 100.00 AA $351,015
3,000   5.500%, 7/01/32  –  RAAI Insured   11/18 at 100.00 AA 3,005,280
7,025   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2011A, 5.000%, 7/01/41   7/21 at 100.00 A 7,411,937
500   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2014E, 5.000%, 7/01/42   7/24 at 100.00 A 537,265
1,915   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2015O, 5.000%, 7/01/36   7/25 at 100.00 A3 2,063,796
1,275   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30   7/20 at 100.00 BBB+ 1,335,116
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2012J:        
1,000   5.000%, 7/01/37   7/22 at 100.00 BBB+ 1,067,950
7,155   5.000%, 7/01/42   7/22 at 100.00 BBB+ 7,606,624
4,000   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2016K, 4.000%, 7/01/46   7/26 at 100.00 BBB+ 3,946,880
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT:        
2,650   5.000%, 12/01/41   6/26 at 100.00 AA- 2,997,839
770   5.000%, 12/01/45   6/26 at 100.00 AA- 866,558
5,915   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41   7/21 at 100.00 A 6,316,983
4,000   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29   7/21 at 100.00 A 4,258,320
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2014E:        
2,610   5.000%, 7/01/32   7/24 at 100.00 AA- 2,911,951
2,740   5.000%, 7/01/33   7/24 at 100.00 AA- 3,052,333
900   5.000%, 7/01/34   7/24 at 100.00 AA- 1,000,548
7,475   Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40   2/21 at 100.00 AA 8,086,679
63,320   Total Health Care       67,430,067
    Long-Term Care – 1.6% (1.0% of Total Investments)        
1,100   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Duncaster, Inc., Series 2014A, 5.000%, 8/01/44   8/24 at 100.00 BBB 1,150,248
630   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 2016A, 5.000%, 9/01/46, 144A   9/26 at 100.00 BB 656,517
1,260   Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Refunding Series 2010-16, 5.000%, 6/15/30   6/20 at 100.00 A1 1,323,844
2,990   Total Long-Term Care       3,130,609
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General – 40.6% (25.6% of Total Investments)        
    Bridgeport, Connecticut, General Obligation Bonds, Series 2014A:        
$ 2,345   5.000%, 7/01/32  –  AGM Insured   7/24 at 100.00 AA $2,580,579
1,600   5.000%, 7/01/34  –  AGM Insured   7/24 at 100.00 AA 1,752,704
2,800   Bridgeport, Connecticut, General Obligation Bonds, Series 2016D, 5.000%, 8/15/41  –  AGM Insured   8/26 at 100.00 AA 3,082,940
    Bridgeport, Connecticut, General Obligation Bonds, Series 2017A:        
1,470   5.000%, 11/01/36   11/27 at 100.00 A 1,600,507
750   5.000%, 11/01/37   11/27 at 100.00 A 814,177
    City of New Haven, Connecticut, General Obligation Bonds, Series 2017A:        
1,000   5.000%, 8/01/35   8/27 at 100.00 BBB+ 1,102,620
1,425   5.000%, 8/01/36   8/27 at 100.00 BBB+ 1,566,688
5,580   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut State University System, Series 2013N, 5.000%, 11/01/31   11/23 at 100.00 A1 6,039,848
3,075   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut State University System, Series 2016P-1, 5.000%, 11/01/29   11/26 at 100.00 A1 3,512,111
2,290   Connecticut State, General Obligation Bonds, Refunding Series 2012E, 5.000%, 9/15/32   9/22 at 100.00 A1 2,436,560
1,000   Connecticut State, General Obligation Bonds, Series 2011D, 5.000%, 11/01/31   11/21 at 100.00 A1 1,056,040
2,600   Connecticut State, General Obligation Bonds, Series 2014A, 5.000%, 3/01/31   3/24 at 100.00 A1 2,817,516
3,500   Connecticut State, General Obligation Bonds, Series 2014F, 5.000%, 11/15/34   11/24 at 100.00 A1 3,795,995
4,580   Connecticut State, General Obligation Bonds, Series 2015A, 4.500%, 3/15/33   3/25 at 100.00 A1 4,828,740
2,630   Connecticut State, General Obligation Bonds, Series 2015F, 5.000%, 11/15/34   11/25 at 100.00 A1 2,877,115
    Connecticut State, General Obligation Bonds, Series 2017A:        
4,000   5.000%, 4/15/34   4/27 at 100.00 A1 4,420,680
3,730   5.000%, 4/15/35   4/27 at 100.00 A1 4,110,684
1,225   Hamden, Connecticut, General Obligation Bonds, Series 2016, 5.000%, 8/15/32  –  BAM Insured   8/24 at 100.00 AA 1,365,226
870   Hartford, Connecticut, General Obligation Bonds, Series 2009A, 5.000%, 8/15/28  –  AGC Insured   8/19 at 100.00 AA 895,117
    New Haven, Connecticut, General Obligation Bonds, Refunding Series 2016A:        
1,000   5.000%, 8/15/32  –  AGM Insured   8/26 at 100.00 AA 1,124,630
1,550   5.000%, 8/15/35  –  AGM Insured   8/26 at 100.00 AA 1,724,778
985   New Haven, Connecticut, General Obligation Bonds, Series 2014A, 5.000%, 8/01/33  –  AGM Insured   8/24 at 100.00 AA 1,075,256
    New Haven, Connecticut, General Obligation Bonds, Series 2015:        
790   5.000%, 9/01/32  –  AGM Insured   9/25 at 100.00 AA 873,211
1,620   5.000%, 9/01/33  –  AGM Insured   9/25 at 100.00 AA 1,783,199
500   5.000%, 9/01/35  –  AGM Insured   9/25 at 100.00 AA 547,115
900   North Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 7/15/24   No Opt. Call Aa1 1,037,844
1,670   Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36   8/21 at 100.00 AA+ 1,803,817
3

NTC Nuveen Connecticut Quality Municipal Income Fund (continued)
  Portfolio of Investments August 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General (continued)        
    State of Connecticut General Obligation Bonds, Series 2018A:        
$ 3,500   5.000%, 4/15/35 (UB) (4)   4/28 at 100.00 A1 $3,877,020
5,000   5.000%, 4/15/38 (UB) (4)   4/28 at 100.00 A1 5,496,050
600   Stratford, Connecticut, General Obligation Bonds, Series 2014, 5.000%, 12/15/32   12/22 at 100.00 AA 657,156
    Suffield, Connecticut, General Obligation Bonds, Refunding Series 2005:        
820   5.000%, 6/15/19   No Opt. Call AA+ 841,574
1,400   5.000%, 6/15/21   No Opt. Call AA+ 1,519,630
2,285   The Metropolitan District Hartford County, Connecticut General Obligation Bonds, Series 2018, 5.000%, 7/15/36   7/28 at 100.00 AA 2,609,630
1,000   Town of Hamden, Connecticut, General Obligation Bonds, Refunding Series 2018A, 5.000%, 8/15/30  –  BAM Insured   8/28 at 100.00 AA 1,134,930
250   Trumbull, Connecticut, General Obligation Bonds, Refunding Series 2017B, 4.000%, 9/01/30   9/26 at 100.00 AA+ 271,527
    Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015:        
445   5.000%, 8/01/30  –  BAM Insured   8/25 at 100.00 AA 505,475
390   5.000%, 8/01/31  –  BAM Insured   8/25 at 100.00 AA 442,474
610   5.000%, 8/01/32  –  BAM Insured   8/25 at 100.00 AA 690,038
445   5.000%, 8/01/33  –  BAM Insured   8/25 at 100.00 AA 502,200
445   5.000%, 8/01/34  –  BAM Insured   8/25 at 100.00 AA 501,012
72,675   Total Tax Obligation/General       79,674,413
    Tax Obligation/Limited – 22.9% (14.4% of Total Investments)        
2,500   Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2012A, 5.000%, 1/01/33   1/23 at 100.00 AA 2,683,325
3,855   Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2013A, 5.000%, 10/01/33   10/23 at 100.00 AA 4,183,061
1,380   Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2015A, 5.000%, 8/01/33   8/25 at 100.00 AA 1,521,091
    Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A:        
5,300   5.000%, 9/01/33   9/26 at 100.00 AA 5,873,248
1,700   5.000%, 9/01/34   9/26 at 100.00 AA 1,878,874
    Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2014A:        
3,835   5.000%, 9/01/33   9/24 at 100.00 AA 4,186,631
1,000   5.000%, 9/01/34   9/24 at 100.00 AA 1,088,290
1,500   Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/39   11/25 at 100.00 A 1,635,960
    Government of Guam, Business Privilege Tax Bonds, Series 2011A:        
840   5.250%, 1/01/36   1/22 at 100.00 A 889,199
3,200   5.125%, 1/01/42   1/22 at 100.00 A 3,359,552
2,315   Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Refunding Series 2017, 5.000%, 4/01/39, 144A   4/27 at 100.00 N/R 2,467,628
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$ 1,500   Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21  –  AGM Insured   11/18 at 100.00 AA $1,564,635
2,600   University of Connecticut, General Obligation Bonds, Series 2010A, 5.000%, 2/15/28   2/20 at 100.00 AA- 2,704,052
2,500   University of Connecticut, General Obligation Bonds, Series 2013A, 5.000%, 8/15/32   8/23 at 100.00 AA- 2,738,975
760   University of Connecticut, General Obligation Bonds, Series 2014A, 5.000%, 2/15/31   2/24 at 100.00 AA- 839,830
    University of Connecticut, General Obligation Bonds, Series 2015A:        
900   5.000%, 2/15/29   2/25 at 100.00 AA- 995,859
1,415   5.000%, 2/15/34   2/25 at 100.00 AA- 1,541,586
2,500   University of Connecticut, General Obligation Bonds, Series 2016A, 5.000%, 3/15/32   3/26 at 100.00 AA- 2,758,425
1,790   Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 5.000%, 10/01/32  –  AGM Insured   10/22 at 100.00 AA 1,924,107
41,390   Total Tax Obligation/Limited       44,834,328
    U.S. Guaranteed – 18.5% (11.7% of Total Investments) (5)        
1,010   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Catholic Health East Series 2010, 4.750%, 11/15/29 (Pre-refunded 11/15/20)   11/20 at 100.00 AA- 1,073,357
2,500   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 A- 2,647,350
2,000   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36 (Pre-refunded 7/01/21)   7/21 at 100.00 A+ 2,154,640
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2011N:        
1,105   5.000%, 7/01/25 (Pre-refunded 7/01/21)   7/21 at 100.00 A3 1,199,942
400   5.000%, 7/01/26 (Pre-refunded 7/01/21)   7/21 at 100.00 A3 434,368
500   5.000%, 7/01/27 (Pre-refunded 7/01/21)   7/21 at 100.00 A3 542,960
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G:        
250   5.125%, 7/01/26 (Pre-refunded 7/01/21)   7/21 at 100.00 A 272,335
3,260   5.625%, 7/01/41 (Pre-refunded 7/01/21)   7/21 at 100.00 A 3,595,845
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2012H:        
1,500   5.000%, 7/01/26 (Pre-refunded 7/01/22)  –  AGM Insured   7/22 at 100.00 AA 1,668,855
1,000   5.000%, 7/01/28 (Pre-refunded 7/01/22)  –  AGM Insured   7/22 at 100.00 AA 1,112,570
3,000   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/35 (Pre-refunded 7/01/20)   7/20 at 100.00 AA 3,176,820
1,240   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 Aa3 1,323,006
2,050   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 A- 2,191,040
3,000   Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39 (Pre-refunded 4/01/20)   4/20 at 100.00 N/R 3,280,710
870   Hartford, Connecticut, General Obligation Bonds, Series 2009A, 5.000%, 8/15/28 (Pre-refunded 8/15/19)  –  AGC Insured   8/19 at 100.00 AA 897,022
5

NTC Nuveen Connecticut Quality Municipal Income Fund (continued)
  Portfolio of Investments August 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed (5) (continued)        
$ 2,220   Oregon State, General Obligation Bonds, Oregon University System Projects, Series 2011G, 5.000%, 8/01/36 (Pre-refunded 8/02/21)   8/21 at 100.00 N/R $2,411,808
1,010   Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A, 5.125%, 6/01/24  –  AMBAC Insured (ETM)   No Opt. Call Aaa 1,107,657
4,870   South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41 (Pre-refunded 8/01/21)   8/21 at 100.00 AA- 5,304,842
1,725   Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011AA, 7.000%, 4/01/41 (Pre-refunded 4/01/21)   4/21 at 100.00 N/R 1,946,197
33,510   Total U.S. Guaranteed       36,341,324
    Utilities – 4.0% (2.5% of Total Investments)        
    Connecticut Municipal Electric Energy Cooperative, Power Supply System Revenue Bonds, Tender Option Bond Trust 2016-XG0059:        
1,295   12.640%, 1/01/32, 144A (IF) (4)   1/23 at 100.00 Aa3 1,800,710
410   12.539%, 1/01/38, 144A (IF) (4)   1/23 at 100.00 Aa3 560,244
    Connecticut Transmission Municipal Electric Energy Cooperative, Transmission System Revenue Bonds, Series 2012A:        
655   5.000%, 1/01/31   1/22 at 100.00 Aa3 711,893
500   5.000%, 1/01/32   1/22 at 100.00 Aa3 542,590
2,830   5.000%, 1/01/42   1/22 at 100.00 Aa3 3,050,344
960   Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (Alternative Minimum Tax)   1/19 at 100.00 A- 973,805
250   Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34  –  AGM Insured   10/22 at 100.00 AA 272,938
6,900   Total Utilities       7,912,524
    Water and Sewer – 21.2% (13.3% of Total Investments)        
    Connecticut, State Revolving Fund General Revenue Bonds, Green Bonds, Series 2017A:        
1,500   5.000%, 5/01/36   5/27 at 100.00 AAA 1,738,290
1,500   5.000%, 5/01/37   5/27 at 100.00 AAA 1,734,570
    Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Refunding Series 2014B:        
500   5.000%, 8/15/30   8/24 at 100.00 AA 560,715
1,000   5.000%, 8/15/31   8/24 at 100.00 AA 1,119,690
500   5.000%, 8/15/32   8/24 at 100.00 AA 562,465
55   Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A, 5.000%, 8/15/35  –  NPFG Insured   11/18 at 100.00 AA 55,140
1,335   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017, 5.000%, 7/01/36   7/27 at 100.00 A- 1,481,530
3,045   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43   7/23 at 100.00 A- 3,307,296
1,125   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2016, 5.000%, 1/01/46   7/26 at 100.00 A- 1,225,879
8,015   Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Refunding Green Bond Series 2014A, 5.000%, 11/01/42   11/24 at 100.00 Aa2 8,814,977
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Water and Sewer (continued)        
    Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2013A:        
$ 4,100   5.000%, 4/01/36   4/22 at 100.00 Aa2 $4,427,713
2,500   5.000%, 4/01/39   4/22 at 100.00 Aa2 2,694,500
795   South Central Connecticut Regional Water Authority Water System Revenue Bonds, Thirtieth Series 2014A, 5.000%, 8/01/44   8/24 at 100.00 AA- 887,737
    South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Refunding Thirty-Second Series 2016B:        
1,470   4.000%, 8/01/36   8/26 at 100.00 AA- 1,550,482
3,330   5.000%, 8/01/37   8/26 at 100.00 AA- 3,798,065
    South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Thirty-third Series 2018A:        
1,270   5.000%, 8/01/42   8/28 at 100.00 AA- 1,475,600
1,000   5.000%, 8/01/47   8/28 at 100.00 AA- 1,157,260
4,000   South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twenty-Seventh Series 2012, 5.000%, 8/01/33   8/22 at 100.00 AA- 4,377,600
500   Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2013A, 5.250%, 8/15/43   8/23 at 100.00 AA+ 565,810
37,540   Total Water and Sewer       41,535,319
$ 287,150   Total Long-Term Investments (cost $305,551,100)       311,868,104
    Floating Rate Obligations – (3.2)%       (6,375,000)
    Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs – (57.1)% (6)       (111,992,355)
    Other Assets Less Liabilities – 1.3%       2,663,279
    Net Asset Applicable to Common Shares – 100%       $ 196,164,028
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).
7

NTC Nuveen Connecticut Quality Municipal Income Fund (continued)
  Portfolio of Investments August 31, 2018
  (Unaudited)
The inputs or methodologies used for valuing securities are not an indication of the risks 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 $ — $311,868,104 $ — $311,868,104
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.
The table below presents the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of August 31, 2018.
Tax cost of investments $299,175,129
Gross unrealized:  
Appreciation $ 8,403,148
Depreciation (2,085,203)
Net unrealized appreciation (depreciation) of investments $ 6,317,945
(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) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.  
(5) 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.  
(6) Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 35.9%.  
144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.  
ETM Escrowed to maturity.  
IF Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.  
UB Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
8

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 Connecticut Quality Municipal Income Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                       
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: October 30, 2018

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: October 30, 2018      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: October 30, 2018