Chairman’s Letter to Shareholders
|
4
|
Portfolio Managers’ Comments
|
5
|
Fund Leverage
|
10
|
Share Information
|
11
|
Risk Considerations
|
13
|
Performance Overview and Holding Summaries
|
14
|
Shareholder Meeting Report
|
19
|
Portfolios of Investments
|
20
|
Statement of Assets and Liabilities
|
53
|
Statement of Operations
|
54
|
Statement of Changes in Net Assets
|
55
|
Financial Highlights
|
58
|
Notes to Financial Statements
|
64
|
Annual Investment Management Agreement Approval Process
|
72
|
Reinvest Automatically, Easily and Conveniently
|
81
|
Glossary of Terms Used in this Report
|
82
|
Additional Fund Information
|
87
|
Nuveen Investments
|
3
|
4
|
Nuveen Investments
|
Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein. |
Nuveen Investments
|
5
|
6
|
Nuveen Investments
|
Nuveen Investments
|
7
|
8
|
Nuveen Investments
|
Nuveen Investments
|
9
|
NXP
|
NXQ
|
NXR
|
NXC
|
NXN
|
||
Effective Leverage*
|
1.40%
|
2.38%
|
0.57%
|
1.65%
|
8.91%
|
*
|
Effective Leverage is a Fund’s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund’s portfolio that increase the Fund’s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values.
|
10
|
Nuveen Investments
|
Per Share Amounts
|
||||||||||||||||
NXP
|
NXQ
|
NXR
|
NXC
|
NXN
|
||||||||||||
April
|
$
|
0.0525
|
$
|
0.0525
|
$
|
0.0525
|
$
|
0.0570
|
$
|
0.0525
|
||||||
May
|
0.0525
|
0.0525
|
0.0525
|
0.0570
|
0.0525
|
|||||||||||
June
|
0.0525
|
0.0525
|
0.0525
|
0.0570
|
0.0525
|
|||||||||||
July
|
0.0525
|
0.0525
|
0.0525
|
0.0570
|
0.0525
|
|||||||||||
August
|
0.0525
|
0.0525
|
0.0525
|
0.0570
|
0.0525
|
|||||||||||
September
|
0.0525
|
0.0525
|
0.0525
|
0.0570
|
0.0525
|
|||||||||||
Market Yield**
|
4.83
|
%
|
5.04
|
%
|
4.91
|
%
|
5.05
|
%
|
4.84
|
%
|
||||||
Taxable-Equivalent Yield**
|
6.71
|
%
|
7.00
|
%
|
6.82
|
%
|
7.73
|
%
|
7.20
|
%
|
**
|
Market Yield is based on the Fund’s current annualized monthly dividend divided by the Fund’s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 28.0%, 34.7%, and 32.8% for National, California and New York Funds, respectively. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
NXP
|
NXQ
|
NXR
|
||
Additional Shares Authorized
|
1,600,000
|
1,700,000
|
1,300,000
|
Nuveen Investments
|
11
|
NXP
|
NXQ
|
NXR
|
NXC
|
NXN
|
||||||||||||
NAV
|
$
|
14.02
|
$
|
13.41
|
$
|
13.93
|
$
|
14.62
|
$
|
13.68
|
||||||
Share Price
|
$
|
13.04
|
$
|
12.51
|
$
|
12.82
|
$
|
13.55
|
$
|
13.01
|
||||||
Premium/(Discount) to NAV
|
(6.99
|
)%
|
(6.71
|
)%
|
(7.97
|
)%
|
(7.32
|
)%
|
(4.90
|
)%
|
||||||
6-Month Average Premium/(Discount) to NAV
|
(5.83
|
)%
|
(5.28
|
)%
|
(5.62
|
)%
|
(4.27
|
)%
|
(3.57
|
)%
|
12
|
Nuveen Investments
|
Nuveen Investments
|
13
|
NXP
|
|
Nuveen Select Tax-Free Income Portfolio
|
|
Performance Overview and Holding Summaries as of September 30, 2013
|
Cumulative
|
Average Annual
|
|||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||
NXP at NAV
|
(4.65)%
|
(2.45)%
|
5.73%
|
4.50%
|
||
NXP at Share Price
|
(8.76)%
|
(15.01)%
|
5.00%
|
4.47%
|
||
S&P Municipal Bond Index
|
(3.47)%
|
(2.25)%
|
6.00%
|
4.47%
|
||
Lipper General and Insured Unleveraged
|
||||||
Municipal Debt Funds Classification Average
|
(4.23)%
|
(1.98)%
|
5.56%
|
4.36%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
20.3%
|
Tax Obligation/Limited
|
18.4%
|
Transportation
|
17.7%
|
U.S. Guaranteed
|
12.1%
|
Tax Obligation/General
|
11.0%
|
Consumer Staples
|
6.2%
|
Utilities
|
6.0%
|
Other
|
8.3%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
16.0%
|
AA
|
30.4%
|
A
|
31.4%
|
BBB
|
13.2%
|
BB or Lower
|
7.0%
|
N/R
|
1.3%
|
States1
|
|
(as a % of total investments)
|
|
California
|
14.1%
|
Illinois
|
12.8%
|
Texas
|
12.7%
|
Colorado
|
7.7%
|
New Jersey
|
6.5%
|
New York
|
5.7%
|
Virginia
|
4.1%
|
Michigan
|
2.6%
|
Iowa
|
2.5%
|
Nevada
|
2.4%
|
Missouri
|
2.4%
|
Oklahoma
|
2.2%
|
New Mexico
|
2.2%
|
Florida
|
2.2%
|
Other
|
19.9%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
14
|
Nuveen Investments
|
NXQ
|
|
Nuveen Select Tax-Free Income Portfolio 2
|
|
Performance Overview and Holding Summaries as of September 30, 2013
|
Cumulative
|
Average Annual
|
|||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||
NXQ at NAV
|
(4.58)%
|
(1.78)%
|
5.55%
|
4.11%
|
||
NXQ at Share Price
|
(8.38)%
|
(11.94)%
|
4.41%
|
4.47%
|
||
S&P Municipal Bond Index
|
(3.47)%
|
(2.25)%
|
6.00%
|
4.47%
|
||
Lipper General and Insured Unleveraged
|
||||||
Municipal Debt Funds Classification Average
|
(4.23)%
|
(1.98)%
|
5.56%
|
4.36%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
18.0%
|
Tax Obligation/General
|
15.7%
|
Transportation
|
15.7%
|
Tax Obligation/Limited
|
14.0%
|
U.S. Guaranteed
|
11.2%
|
Consumer Staples
|
7.7%
|
Utilities
|
6.6%
|
Other
|
11.1%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
19.0%
|
AA
|
20.4%
|
A
|
33.3%
|
BBB
|
13.8%
|
BB or Lower
|
6.9%
|
N/R
|
5.1%
|
States1
|
|
(as a % of total investments)
|
|
Texas
|
13.4%
|
California
|
12.9%
|
Illinois
|
12.6%
|
Colorado
|
8.1%
|
New York
|
7.4%
|
Indiana
|
4.8%
|
Ohio
|
3.5%
|
Virginia
|
3.4%
|
Michigan
|
3.1%
|
New Mexico
|
3.1%
|
South Carolina
|
3.0%
|
Nevada
|
2.9%
|
Rhode Island
|
2.4%
|
Other
|
19.4%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
Nuveen Investments
|
15
|
NXR
|
|
Nuveen Select Tax-Free Income Portfolio 3
|
|
Performance Overview and Holding Summaries as of September 30, 2013
|
Cumulative
|
Average Annual
|
|||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||
NXR at NAV
|
(4.68)%
|
(2.45)%
|
5.73%
|
4.55%
|
||
NXR at Share Price
|
(9.36)%
|
(15.20)%
|
5.10%
|
4.79%
|
||
S&P Municipal Bond Index
|
(3.47)%
|
(2.25)%
|
6.00%
|
4.47%
|
||
Lipper General and Insured Unleveraged
|
||||||
Municipal Debt Funds Classification Average
|
(4.23)%
|
(1.98)%
|
5.56%
|
4.36%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Health Care
|
18.4%
|
Tax Obligation/Limited
|
18.2%
|
Tax Obligation/General
|
14.7%
|
Transportation
|
14.5%
|
U.S. Guaranteed
|
9.9%
|
Consumer Staples
|
7.2%
|
Utilities
|
6.5%
|
Other
|
10.6%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
17.1%
|
AA
|
29.1%
|
A
|
31.5%
|
BBB
|
11.7%
|
BB or Lower
|
9.4%
|
N/R
|
0.5%
|
States1
|
|
(as a % of total investments)
|
|
California
|
17.6%
|
Illinois
|
13.4%
|
Texas
|
11.5%
|
Colorado
|
7.0%
|
New York
|
6.4%
|
Indiana
|
4.6%
|
Ohio
|
3.9%
|
Virginia
|
3.3%
|
Nevada
|
2.8%
|
Washington
|
2.8%
|
New Mexico
|
2.8%
|
Iowa
|
2.7%
|
Puerto Rico
|
2.4%
|
Other
|
18.8%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
16
|
Nuveen Investments
|
NXC
|
|
Nuveen California Select Tax-Free Income Portfolio
|
|
Performance Overview and Holding Summaries as of September 30, 2013
|
Cumulative
|
Average Annual
|
|||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||
NXC at NAV
|
(4.85)%
|
(1.90)%
|
6.73%
|
4.91%
|
||
NXC at Share Price
|
(7.91)%
|
(11.24)%
|
7.28%
|
5.15%
|
||
S&P Municipal Bond California Index
|
(3.14)%
|
(1.37)%
|
6.41%
|
4.75%
|
||
S&P Municipal Bond Index
|
(3.47)%
|
(2.25)%
|
6.00%
|
4.47%
|
||
Lipper California Municipal Debt Funds Classification Average
|
(7.28)%
|
(4.62)%
|
8.20%
|
5.10%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Tax Obligation/General
|
39.0%
|
Tax Obligation/Limited
|
27.0%
|
Health Care
|
9.4%
|
Utilities
|
6.9%
|
Education and Civic Organizations
|
4.0%
|
Other
|
13.7%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
3.9%
|
AA
|
27.3%
|
A
|
47.8%
|
BBB
|
9.3%
|
BB or Lower
|
4.3%
|
N/R
|
4.0%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
Nuveen Investments
|
17
|
NXN
|
|
Nuveen New York Select Tax-Free Income Portfolio
|
|
Performance Overview and Holding Summaries as of September 30, 2013
|
Cumulative
|
Average Annual
|
|||||
6-Month
|
1-Year
|
5-Year
|
10-Year
|
|||
NXN at NAV
|
(4.82)%
|
(4.13)%
|
5.44%
|
4.15%
|
||
NXN at Share Price
|
(10.44)%
|
(9.35)%
|
5.45%
|
4.47%
|
||
S&P Municipal Bond New York Index
|
(2.86)%
|
(1.89)%
|
5.88%
|
4.46%
|
||
S&P Municipal Bond Index
|
(3.47)%
|
(2.25)%
|
6.00%
|
4.47%
|
||
Lipper New York Municipal Debt Funds Classification Average
|
(7.40)%
|
(6.59)%
|
(7.05)%
|
4.60%
|
Portfolio Composition1
|
|
(as a % of total investments)
|
|
Tax Obligation/Limited
|
34.6%
|
Education and Civic Organizations
|
15.9%
|
Health Care
|
9.1%
|
Utilities
|
7.5%
|
Tax Obligation/General
|
6.7%
|
Transportation
|
5.1%
|
Housing/Single Family
|
4.6%
|
U.S. Guaranteed
|
4.2%
|
Other
|
12.3%
|
Credit Quality1,2,3
|
|
(as a % of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
30.0%
|
AA
|
27.6%
|
A
|
21.2%
|
BBB
|
5.9%
|
BB or Lower
|
7.0%
|
N/R
|
1.5%
|
1
|
Holdings are subject to change.
|
2
|
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s Group, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
|
3
|
Percentage may not add to 100% due to the exclusion of other assets less liabilities from the table.
|
18
|
Nuveen Investments
|
NXP
|
|
NXQ
|
Shareholder Meeting Report
The annual meeting of shareholders was held in the offices of Nuveen Investments on August 7, 2013; at this meeting the shareholders were asked to vote on the election of Board Members.
|
NXR
|
|
NXC
|
|
NXN
|
NXP
|
NXQ
|
NXR
|
NXC
|
NXN
|
||||||||||||
Common
|
Common
|
Common
|
Common
|
Common
|
||||||||||||
shares
|
shares
|
shares
|
shares
|
shares
|
||||||||||||
Approval of the Board Members was reached as follows:
|
||||||||||||||||
William C. Hunter
|
||||||||||||||||
For
|
13,705,695
|
15,989,558
|
11,172,342
|
4,653,854
|
3,260,743
|
|||||||||||
Withhold
|
435,170
|
378,497
|
282,826
|
214,009
|
51,565
|
|||||||||||
Total
|
14,140,865
|
16,368,055
|
11,455,168
|
4,867,863
|
3,312,308
|
|||||||||||
Judith M. Stockdale
|
||||||||||||||||
For
|
13,739,113
|
15,939,252
|
11,134,348
|
4,657,382
|
3,257,355
|
|||||||||||
Withhold
|
401,752
|
428,803
|
320,820
|
210,481
|
54,953
|
|||||||||||
Total
|
14,140,865
|
16,368,055
|
11,455,168
|
4,867,863
|
3,312,308
|
|||||||||||
Carole E. Stone
|
||||||||||||||||
For
|
13,737,123
|
15,958,773
|
11,142,190
|
4,657,214
|
3,257,355
|
|||||||||||
Withhold
|
403,742
|
409,282
|
312,978
|
210,649
|
54,953
|
|||||||||||
Total
|
14,140,865
|
16,368,055
|
11,455,168
|
4,867,863
|
3,312,308
|
|||||||||||
Virginia L. Stringer
|
||||||||||||||||
For
|
13,735,471
|
15,976,750
|
11,150,845
|
4,650,196
|
3,257,355
|
|||||||||||
Withhold
|
405,394
|
391,305
|
304,323
|
217,667
|
54,953
|
|||||||||||
Total
|
14,140,865
|
16,368,055
|
11,455,168
|
4,867,863
|
3,312,308
|
Nuveen Investments
|
19
|
NXP
|
|
Nuveen Select Tax-Free Income Portfolio
|
|
Portfolio of Investments
|
|
September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
LONG-TERM INVESTMENTS – 99.3%
|
||||||||||
MUNICIPAL BONDS – 99.3%
|
||||||||||
Alaska – 1.9%
|
||||||||||
$
|
2,475
|
Alaska Municipal Bond Bank Authority, General Obligation Bonds, Series 2003E, 5.250%, 12/01/23 (Pre-refunded 12/01/13) – NPFG Insured
|
12/13 at 100.00
|
AA (4)
|
$
|
2,496,409
|
||||
2,675
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46
|
6/14 at 100.00
|
B2
|
1,863,512
|
||||||
5,150
|
Total Alaska
|
4,359,921
|
||||||||
Arizona – 1.4%
|
||||||||||
2,500
|
Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series 2011B-1&2, 5.250%, 3/01/39
|
3/21 at 100.00
|
A
|
2,540,550
|
||||||
625
|
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40
|
10/20 at 100.00
|
BBB
|
620,538
|
||||||
3,125
|
Total Arizona
|
3,161,088
|
||||||||
Arkansas – 0.4%
|
||||||||||
5,915
|
Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer Research Center Project, Series 2006, 0.000%, 7/01/46 – AMBAC Insured
|
No Opt. Call
|
Aa2
|
973,372
|
||||||
California – 14.0%
|
||||||||||
2,000
|
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 5.450%, 10/01/25 – AMBAC Insured
|
10/17 at 100.00
|
BBB+
|
2,128,340
|
||||||
4,195
|
Anaheim City School District, Orange County, California, General Obligation Bonds, Election 2002 Series 2007, 0.000%, 8/01/31 – AGM Insured
|
No Opt. Call
|
AA–
|
1,587,136
|
||||||
2,340
|
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/30 – AGM Insured
|
No Opt. Call
|
AA–
|
910,120
|
||||||
3,000
|
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38
|
4/23 at 100.00
|
A+
|
3,077,580
|
||||||
2,310
|
California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/33
|
7/23 at 100.00
|
AA–
|
2,372,647
|
||||||
895
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38
|
8/19 at 100.00
|
Aa2
|
1,040,661
|
||||||
3,790
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 0.000%, 8/01/36 – AGM Insured
|
8/16 at 33.78
|
Aa1
|
1,115,587
|
||||||
2,645
|
Cypress Elementary School District, Orange County, California, General Obligation Bonds, Series 2009A, 0.000%, 5/01/34 – AGM Insured
|
No Opt. Call
|
AA
|
841,718
|
||||||
2,130
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/28 – AMBAC Insured
|
No Opt. Call
|
A2
|
1,096,183
|
||||||
2,350
|
Golden Valley Unified School District, Madera County, California, General Obligation Bonds, Election 2006 Series 2007A, 0.000%, 8/01/29 – AGM Insured
|
8/17 at 56.07
|
AA–
|
979,974
|
||||||
3,030
|
Grossmont Union High School District, San Diego County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/25 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,876,206
|
||||||
365
|
Los Angeles, California, Parking System Revenue Bonds, Series 1999A, 5.250%, 5/01/29 – AMBAC Insured
|
No Opt. Call
|
AA–
|
366,106
|
||||||
1,000
|
Moreno Valley Unified School District, Riverside County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/23 – NPFG Insured
|
No Opt. Call
|
AA–
|
638,570
|
||||||
1,160
|
Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
|
8/35 at 100.00
|
AA
|
546,000
|
20
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
California (continued)
|
||||||||||
$
|
5,395
|
Napa Valley Community College District, Napa and Sonoma Counties, California, General Obligation Bonds, Election 2002 Series 2007C, 0.000%, 8/01/32 – NPFG Insured
|
8/17 at 46.57
|
Aa2
|
$
|
2,083,549
|
||||
3,000
|
New Haven Unified School District, Alameda County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/28 – NPFG Insured
|
No Opt. Call
|
Aa3
|
1,405,920
|
||||||
590
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39
|
11/19 at 100.00
|
Baa3
|
608,007
|
||||||
4,390
|
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
|
No Opt. Call
|
A
|
1,762,936
|
||||||
1,700
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
|
No Opt. Call
|
A+
|
504,356
|
||||||
8,000
|
Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2009A, 0.000%, 8/01/33
|
No Opt. Call
|
Aa2
|
2,764,080
|
||||||
2,930
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A, 0.000%, 1/15/27 – NPFG Insured
|
No Opt. Call
|
A
|
1,299,719
|
||||||
1,250
|
San Jose, California, Airport Revenue Bonds, Series 2004D, 5.000%, 3/01/28 – NPFG Insured
|
3/14 at 100.00
|
A
|
1,263,950
|
||||||
2,110
|
Sierra Sands Unified School District, Kern County, California, General Obligation Bonds, Election of 2006, Series 2006A, 0.000%, 11/01/28 – FGIC Insured
|
No Opt. Call
|
AA
|
936,165
|
||||||
1,195
|
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.500%, 6/01/45
|
6/15 at 100.00
|
B–
|
907,148
|
||||||
1,150
|
Woodside Elementary School District, San Mateo County, California, General Obligation Bonds, Series 2007, 0.000%, 10/01/30 – AMBAC Insured
|
No Opt. Call
|
AAA
|
489,555
|
||||||
62,920
|
Total California
|
32,602,213
|
||||||||
Colorado – 7.6%
|
||||||||||
2,950
|
Colorado Department of Transportation, Revenue Anticipation Bonds, Series 2003A, 5.250%, 12/15/15 (Pre-refunded 12/15/13) – AMBAC Insured
|
12/13 at 100.00
|
AA (4)
|
2,981,241
|
||||||
3,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38
|
9/16 at 100.00
|
AA–
|
2,779,470
|
||||||
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
1/20 at 100.00
|
AA
|
1,004,190
|
||||||
1,900
|
Denver City and County, Colorado, Airport System Revenue Bonds, Series 1991D, 7.750%, 11/15/13 (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
1,917,290
|
||||||
1,935
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43
|
11/23 at 100.00
|
A
|
1,936,413
|
||||||
3,000
|
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2003A, 5.000%, 12/01/23
(Pre-refunded 12/01/13) – SYNCORA GTY Insured |
12/13 at 100.00
|
N/R (4)
|
3,024,420
|
||||||
500
|
Denver, Colorado, Airport System Revenue Refunding Bonds, Series 2003B, 5.000%, 11/15/33 (Pre-refunded 11/15/13) – SYNCORA GTY Insured
|
11/13 at 100.00
|
A+ (4)
|
503,035
|
||||||
160
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/29 – NPFG Insured
|
No Opt. Call
|
A
|
67,139
|
||||||
2,000
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/32 – NPFG Insured
|
9/20 at 50.83
|
A
|
686,800
|
||||||
12,500
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2006A, 0.000%, 9/01/38 – NPFG Insured
|
9/26 at 54.77
|
A
|
2,865,000
|
||||||
28,945
|
Total Colorado
|
17,764,998
|
||||||||
Florida – 2.2%
|
||||||||||
3,125
|
Collier County, Florida, Special Obligation Revenue Bonds, Refunding Series 2012, 4.000%, 10/01/13
|
No Opt. Call
|
AA
|
3,125,344
|
||||||
2,000
|
Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.375%, 6/01/46
|
6/16 at 100.00
|
A–
|
1,863,200
|
||||||
5,125
|
Total Florida
|
4,988,544
|
Nuveen Investments
|
21
|
NXP
|
Nuveen Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Georgia – 0.9%
|
||||||||||
$
|
2,000
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.125%, 12/01/45
|
12/20 at 100.00
|
N/R
|
$
|
2,069,140
|
||||
Illinois – 12.7%
|
||||||||||
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 1999A:
|
||||||||||
2,465
|
0.000%, 4/01/20 – NPFG Insured
|
No Opt. Call
|
A
|
1,887,500
|
||||||
2,000
|
0.000%, 4/01/23 – NPFG Insured
|
No Opt. Call
|
A
|
1,269,320
|
||||||
735
|
Chicago Board of Education, Cook County, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.000%, 12/01/41
|
12/21 at 100.00
|
A+
|
655,679
|
||||||
2,000
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2003F, 5.500%, 1/01/15 – CIFG Insured
|
1/14 at 100.00
|
AA–
|
2,025,920
|
||||||
DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, Series 2003B:Insured
|
||||||||||
805
|
5.250%, 11/01/20 (Pre-refunded 11/01/13) – AGM Insured
|
11/13 at 100.00
|
AA3 (4)
|
808,526
|
||||||
195
|
5.250%, 11/01/20 (Pre-refunded 1/01/14) – AGM Insured
|
1/14 at 100.00
|
AA (4)
|
197,500
|
||||||
750
|
Illinois Educational Facilities Authority, Revenue Bonds, Northwestern University, Series 2003, 5.000%, 12/01/38
|
12/13 at 100.00
|
AAA
|
753,930
|
||||||
1,050
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.242%, 7/01/15 (IF)
|
No Opt. Call
|
AA+
|
1,063,041
|
||||||
4,000
|
Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A, 5.500%, 8/15/43 (Pre-refunded 8/15/14)
|
8/14 at 100.00
|
N/R (4)
|
4,183,440
|
||||||
260
|
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43
|
7/23 at 100.00
|
A–
|
268,793
|
||||||
1,000
|
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38
|
8/19 at 100.00
|
BBB+
|
1,080,370
|
||||||
2,100
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30
|
8/18 at 100.00
|
BBB+
|
2,147,082
|
||||||
2,275
|
Illinois Health Facilities Authority, Revenue Refunding Bonds, Elmhurst Memorial Healthcare, Series 2002, 6.250%, 1/01/17
|
11/13 at 100.00
|
Baa2
|
2,283,759
|
||||||
2,190
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
|
No Opt. Call
|
A–
|
2,311,808
|
||||||
1,000
|
Kendall, Kane, and Will Counties Community Unit School District 308 Oswego, Illinois, General Obligation Bonds, Series 2008, 0.000%, 2/01/24 – AGM Insured
|
No Opt. Call
|
Aa2
|
629,600
|
||||||
1,990
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A, 0.010%, 6/15/17 – FGIC Insured
|
No Opt. Call
|
A
|
1,840,452
|
||||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
||||||||||
1,720
|
0.000%, 12/15/29 – NPFG Insured
|
No Opt. Call
|
AAA
|
706,008
|
||||||
810
|
0.000%, 6/15/30 – NPFG Insured
|
No Opt. Call
|
AAA
|
318,257
|
||||||
6,070
|
0.000%, 12/15/31 – NPFG Insured
|
No Opt. Call
|
AAA
|
2,154,607
|
||||||
5,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,267,950
|
||||||
1,300
|
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 (Pre-refunded 12/01/14) – FGIC Insured
|
12/14 at 100.00
|
AAA
|
1,375,660
|
||||||
310
|
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42
|
10/23 at 100.00
|
A
|
314,948
|
||||||
40,025
|
Total Illinois
|
29,544,150
|
||||||||
Indiana – 1.5%
|
||||||||||
1,000
|
Franklin Community Multi-School Building Corporation, Johnson County, Indiana, First Mortgage Revenue Bonds, Series 2004, 5.000%, 7/15/22 (Pre-refunded 7/15/14) – FGIC Insured
|
7/14 at 100.00
|
A+ (4)
|
1,038,220
|
||||||
670
|
Indiana Health Facility Financing Authority, Hospital Revenue Refunding Bonds, Columbus Regional Hospital, Series 1993, 7.000%, 8/15/15 – AGM Insured
|
No Opt. Call
|
AA–
|
714,769
|
||||||
1,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
A–
|
1,017,850
|
||||||
750
|
West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds, Series 2005, 5.000%, 7/15/22 – NPFG Insured
|
1/15 at 100.00
|
AA+
|
791,498
|
||||||
3,420
|
Total Indiana
|
3,562,337
|
22
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Iowa – 2.5%
|
||||||||||
$
|
1,665
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19
|
No Opt. Call
|
BB–
|
$
|
1,621,810
|
||||
1,000
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.375%, 6/01/38
|
6/15 at 100.00
|
B+
|
802,350
|
||||||
4,000
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
B+
|
3,392,520
|
||||||
6,665
|
Total Iowa
|
5,816,680
|
||||||||
Kansas – 0.5%
|
||||||||||
500
|
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006, 4.875%, 7/01/36
|
7/16 at 100.00
|
A1
|
496,565
|
||||||
750
|
Wamego, Kansas, Pollution Control Revenue Bonds, Kansas Gas and Electric Company, Series 2004, 5.300%, 6/01/31 – NPFG Insured
|
6/14 at 100.00
|
A
|
754,710
|
||||||
1,250
|
Total Kansas
|
1,251,275
|
||||||||
Kentucky – 1.1%
|
||||||||||
2,500
|
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2011, 5.250%, 8/15/46
|
8/21 at 100.00
|
AA–
|
2,542,575
|
||||||
Massachusetts – 1.0%
|
||||||||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.000%, 7/01/28
|
7/18 at 100.00
|
A–
|
509,805
|
||||||
1,865
|
Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40
|
12/18 at 100.00
|
AA–
|
1,910,040
|
||||||
2,365
|
Total Massachusetts
|
2,419,845
|
||||||||
Michigan – 2.6%
|
||||||||||
355
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
7/22 at 100.00
|
BBB+
|
321,563
|
||||||
1,500
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%, 7/01/31 – BHAC Insured
|
7/18 at 100.00
|
AA+
|
1,536,750
|
||||||
2,450
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%, 7/01/33 – FGIC Insured
|
7/16 at 100.00
|
A
|
2,229,133
|
||||||
2,075
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%, 7/01/25 – NPFG Insured
|
7/16 at 100.00
|
A
|
1,908,793
|
||||||
6,380
|
Total Michigan
|
5,996,239
|
||||||||
Missouri – 2.3%
|
||||||||||
360
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
|
10/18 at 100.00
|
AA+
|
384,876
|
||||||
Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1:
|
||||||||||
1,165
|
0.000%, 4/15/23 – AMBAC Insured
|
No Opt. Call
|
AA–
|
837,775
|
||||||
5,000
|
0.000%, 4/15/30 – AMBAC Insured
|
No Opt. Call
|
AA–
|
2,216,100
|
||||||
2,000
|
Missouri State Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/38
|
11/23 at 100.00
|
A2
|
2,008,560
|
||||||
8,525
|
Total Missouri
|
5,447,311
|
||||||||
Nevada – 2.3%
|
||||||||||
750
|
Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823, 20.185%, 1/01/18 (IF)
|
1/20 at 100.00
|
A+
|
1,076,550
|
||||||
1,000
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
A+
|
1,027,790
|
||||||
1,500
|
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 6/15/30
|
6/19 at 100.00
|
BBB–
|
1,616,745
|
||||||
1,600
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%, 6/01/18 – FGIC Insured
|
6/15 at 100.00
|
AA+
|
1,716,464
|
||||||
4,850
|
Total Nevada
|
5,437,549
|
Nuveen Investments
|
23
|
NXP
|
Nuveen Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
New Jersey – 6.4%
|
||||||||||
$
|
2,500
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center, Series 2003, 5.500%, 7/01/23
|
12/13 at 100.00
|
Ba2
|
$
|
2,500,700
|
||||
35,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/34 – AGM Insured
|
No Opt. Call
|
AA–
|
10,670,800
|
||||||
2,500
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 5.000%, 6/01/41
|
6/17 at 100.00
|
B2
|
1,797,500
|
||||||
40,000
|
Total New Jersey
|
14,969,000
|
||||||||
New Mexico – 2.2%
|
||||||||||
1,000
|
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
968,180
|
||||||
4,000
|
University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico Hospital Project, Series 2004, 4.625%, 7/01/25 – AGM Insured
|
7/14 at 100.00
|
AA–
|
4,033,560
|
||||||
5,000
|
Total New Mexico
|
5,001,740
|
||||||||
New York – 5.7%
|
||||||||||
1,000
|
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Kaleida Health, Series 2004, 5.050%, 2/15/25 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
AAA
|
1,017,830
|
||||||
500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.250%, 2/15/47
|
2/21 at 100.00
|
A
|
511,140
|
||||||
1,810
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47 – FGIC Insured
|
2/17 at 100.00
|
A
|
1,816,263
|
||||||
3,750
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2004A, 5.000%, 9/01/34 – BHAC Insured
|
9/14 at 100.00
|
AA+
|
3,852,563
|
||||||
2,385
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2010A, 5.000%, 5/01/14
|
No Opt. Call
|
A–
|
2,447,249
|
||||||
2,500
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007B, 4.750%, 11/01/27
|
5/17 at 100.00
|
AAA
|
2,664,125
|
||||||
780
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
12/20 at 100.00
|
BBB
|
838,110
|
||||||
12,725
|
Total New York
|
13,147,280
|
||||||||
North Carolina – 0.5%
|
||||||||||
1,000
|
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2008C, 6.750%, 1/01/24
|
1/19 at 100.00
|
A–
|
1,176,810
|
||||||
Ohio – 2.1%
|
||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||||
1,670
|
6.000%, 6/01/42
|
6/17 at 100.00
|
BB+
|
1,281,257
|
||||||
1,000
|
6.500%, 6/01/47
|
6/17 at 100.00
|
B
|
820,810
|
||||||
1,975
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37
|
6/22 at 100.00
|
B
|
1,575,161
|
||||||
1,105
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48
|
2/23 at 100.00
|
A+
|
1,116,039
|
||||||
5,750
|
Total Ohio
|
4,793,267
|
||||||||
Oklahoma – 2.2%
|
||||||||||
1,000
|
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 5.375%, 9/01/36
|
9/16 at 100.00
|
BBB–
|
948,250
|
||||||
4,000
|
Oklahoma Development Finance Authority, Revenue Bonds, St. John Health System, Series 2004, 5.000%, 2/15/24 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
A+ (4)
|
4,071,360
|
||||||
5,000
|
Total Oklahoma
|
5,019,610
|
24
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Pennsylvania – 1.1%
|
||||||||||
$
|
500
|
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2003, 5.250%, 7/15/24
|
11/13 at 100.00
|
A–
|
$
|
501,570
|
||||
1,490
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010B, 0.000%, 12/01/30
|
12/20 at 100.00
|
AA
|
1,359,238
|
||||||
700
|
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 – AMBAC Insured
|
12/14 at 100.00
|
A+
|
726,047
|
||||||
2,690
|
Total Pennsylvania
|
2,586,855
|
||||||||
Puerto Rico – 1.9%
|
||||||||||
1,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
815,830
|
||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
||||||||||
17,500
|
0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,880,325
|
||||||
1,000
|
0.000%, 8/01/43 – NPFG Insured
|
No Opt. Call
|
AA–
|
144,210
|
||||||
7,000
|
0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
AA–
|
480,410
|
||||||
26,500
|
Total Puerto Rico
|
4,320,775
|
||||||||
Rhode Island – 0.5%
|
||||||||||
1,125
|
Rhode Island Economic Development Corporation, Airport Revenue Bonds, Refunding Series 2005A, 4.625%, 7/01/26 – NPFG Insured (Alternative Minimum Tax)
|
7/15 at 100.00
|
A
|
1,109,509
|
||||||
South Carolina – 1.2%
|
||||||||||
1,250
|
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, GROWTH, Series 2004, 5.250%, 12/01/20 (Pre-refunded 12/01/14)
|
12/14 at 100.00
|
AA– (4)
|
1,322,050
|
||||||
1,500
|
Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement Bonds, Series 2003, 6.000%, 11/01/18 (Pre-refunded 11/01/13)
|
11/13 at 100.00
|
AA– (4)
|
1,507,545
|
||||||
2,750
|
Total South Carolina
|
2,829,595
|
||||||||
Texas – 12.6%
|
||||||||||
1,000
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%, 1/01/35 (Pre-refunded 1/01/15) – FGIC Insured
|
1/15 at 100.00
|
A (4)
|
1,058,400
|
||||||
250
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41
|
1/21 at 100.00
|
Baa2
|
253,195
|
||||||
5,565
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.500%, 4/01/53
|
10/23 at 100.00
|
BBB+
|
5,556,096
|
||||||
2,300
|
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO Project, Series 2003, 5.000%, 11/15/30 (Pre-refunded 11/15/13) – NPFG Insured
|
11/13 at 100.00
|
AA (4)
|
2,313,731
|
||||||
3,415
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/30 – NPFG Insured
|
No Opt. Call
|
A
|
1,155,329
|
||||||
4,165
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/35 – NPFG Insured
|
11/24 at 52.47
|
A
|
979,566
|
||||||
4,015
|
Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Refunding Bonds, Series 2001A, 0.000%, 11/15/38 – NPFG Insured
|
11/30 at 61.17
|
A
|
806,814
|
||||||
1,780
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2007, 0.000%, 8/15/37
|
8/16 at 35.23
|
AAA
|
545,018
|
||||||
2,260
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
BBB–
|
2,234,123
|
||||||
2,000
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation Series 2008I, 0.000%, 1/01/43
|
1/25 at 100.00
|
A2
|
2,082,860
|
||||||
4,500
|
Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, Series 2004, 6.000%, 12/01/34
|
12/13 at 100.00
|
A+
|
4,528,935
|
||||||
5,000
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/26
|
No Opt. Call
|
A3
|
5,064,850
|
Nuveen Investments
|
25
|
NXP
|
Nuveen Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Texas (continued)
|
||||||||||
$
|
1,750
|
Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2003A, 5.125%, 8/01/42 (Alternative Minimum Tax)
|
12/13 at 100.00
|
AAA
|
$
|
1,750,385
|
||||
830
|
Wood County Central Hospital District, Texas, Revenue Bonds, East Texas Medical Center Quitman Project, Series 2011, 6.000%, 11/01/41
|
11/21 at 100.00
|
Baa2
|
866,935
|
||||||
38,830
|
Total Texas
|
29,196,237
|
||||||||
Virginia – 4.1%
|
||||||||||
1,000
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/42
|
10/17 at 100.00
|
BBB
|
1,002,870
|
||||||
1,000
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
|
11/13 at 100.00
|
BBB
|
990,130
|
||||||
2,000
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44
|
10/28 at 100.00
|
BBB+
|
1,586,200
|
||||||
1,935
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
1,709,843
|
||||||
400
|
Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2006, 5.250%, 6/15/37
|
6/16 at 100.00
|
Baa1
|
382,472
|
||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
|
||||||||||
1,000
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
943,850
|
||||||
650
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
652,119
|
||||||
1,010
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
948,087
|
||||||
1,390
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds, Series 2007A, 5.250%, 9/01/37
|
9/17 at 100.00
|
BBB+
|
1,339,529
|
||||||
10,385
|
Total Virginia
|
9,555,100
|
||||||||
Washington – 1.7%
|
||||||||||
990
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35
|
1/21 at 100.00
|
A
|
1,015,968
|
||||||
1,790
|
Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.500%, 6/01/26
|
11/13 at 100.00
|
A3
|
1,785,507
|
||||||
2,115
|
Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2003F, 0.000%, 12/01/27 – NPFG Insured
|
No Opt. Call
|
AA+
|
1,232,516
|
||||||
4,895
|
Total Washington
|
4,033,991
|
||||||||
West Virginia – 0.9%
|
||||||||||
500
|
West Virginia Hospital Finance Authority, Hospital Revenue Bonds, United Hospital Center Inc. Project, Series 2006A, 4.500%, 6/01/26 – AMBAC Insured
|
6/16 at 100.00
|
A
|
504,585
|
||||||
1,500
|
West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding and Improvement Series 2013A, 5.500%, 6/01/44 (WI/DD, Settling 10/03/13)
|
6/23 at 100.00
|
A
|
1,529,740
|
||||||
2,000
|
Total West Virginia
|
2,034,325
|
||||||||
Wisconsin – 1.3%
|
||||||||||
1,645
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012, 5.000%, 6/01/39
|
6/22 at 100.00
|
A2
|
1,622,644
|
||||||
1,325
|
Wisconsin, General Obligation Refunding Bonds, Series 2003-3, 5.000%, 11/01/26
|
11/13 at 100.00
|
AA
|
1,330,327
|
||||||
2,970
|
Total Wisconsin
|
2,952,971
|
||||||||
$
|
350,780
|
Total Municipal Bonds (cost $224,574,685)
|
230,664,302
|
26
|
Nuveen Investments
|
Principal
|
|||||||||||
Amount (000)
|
Description (1)
|
Coupon
|
Maturity
|
Ratings (3)
|
Value
|
||||||
CORPORATE BONDS – 0.0%
|
|||||||||||
Transportation – 0.0%
|
|||||||||||
$
|
193
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
5.500%
|
7/15/19
|
N/R
|
$
|
29,201
|
||||
56
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
3.000%
|
7/15/55
|
N/R
|
5,638
|
||||||
$
|
249
|
Total Corporate Bonds (cost $7,312)
|
34,839
|
||||||||
Total Long-Term Investments (cost $224,581,997)
|
230,699,141
|
||||||||||
Other Assets Less Liabilities – 0.7%
|
1,614,662
|
||||||||||
Net Assets – 100%
|
$
|
232,313,803
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.
|
(6)
|
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either senior interest corporate bond.
|
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
(IF)
|
Inverse floating rate investment.
|
Nuveen Investments
|
27
|
NXQ
|
|
Nuveen Select Tax-Free Income Portfolio 2
|
|
Portfolio of Investments
|
|
September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
LONG-TERM INVESTMENTS – 98.8%
|
||||||||||
MUNICIPAL BONDS – 98.8%
|
||||||||||
Alaska – 0.3%
|
||||||||||
$
|
1,000
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32
|
6/14 at 100.00
|
B2
|
$
|
767,450
|
||||
Arizona – 2.3%
|
||||||||||
2,500
|
Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series 2011B-1&2, 5.250%, 3/01/39
|
3/21 at 100.00
|
A
|
2,540,550
|
||||||
600
|
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40
|
10/20 at 100.00
|
BBB
|
595,716
|
||||||
2,250
|
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
|
A–
|
2,220,773
|
||||||
215
|
Sedona Wastewater Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series 1998, 0.000%, 7/01/20 – NPFG Insured
|
No Opt. Call
|
A
|
170,377
|
||||||
5,565
|
Total Arizona
|
5,527,416
|
||||||||
California – 12.8%
|
||||||||||
1,000
|
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 5.450%, 10/01/25 – AMBAC Insured
|
10/17 at 100.00
|
BBB+
|
1,064,170
|
||||||
11,000
|
Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/41 – AGC Insured
|
No Opt. Call
|
AA–
|
2,174,150
|
||||||
3,600
|
Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2006 Series 2007A, 0.000%, 8/01/33 – AGM Insured
|
2/17 at 44.77
|
Aa2
|
1,242,036
|
||||||
500
|
California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges Projects, Series 1998A, 5.250%, 12/01/16
|
12/13 at 100.00
|
A2
|
501,950
|
||||||
540
|
California State Public Works Board, Lease Revenue Refunding Bonds, Various University of California Projects, Series 1993A, 5.500%, 6/01/14
|
No Opt. Call
|
Aa2
|
559,273
|
||||||
2,500
|
California State, General Obligation Bonds, Series 2005, 5.000%, 3/01/31
|
3/16 at 100.00
|
A1
|
2,575,650
|
||||||
60
|
California, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured
|
11/13 at 100.00
|
A1
|
60,236
|
||||||
2,440
|
Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series 2002, 0.000%, 8/01/27 – AGM Insured
|
No Opt. Call
|
AA–
|
1,240,838
|
||||||
3,290
|
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/24 – NPFG Insured
|
No Opt. Call
|
A+
|
1,935,540
|
||||||
1,000
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47
|
6/17 at 100.00
|
B
|
700,660
|
||||||
3,030
|
Grossmont Union High School District, San Diego County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/25 – NPFG Insured
|
No Opt. Call
|
Aa2
|
1,876,206
|
||||||
1,495
|
Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/33 – FGIC Insured
|
No Opt. Call
|
Aa2
|
509,257
|
||||||
1,160
|
Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
|
8/35 at 100.00
|
AA
|
546,000
|
||||||
450
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
519,831
|
||||||
1,195
|
Palmdale Elementary School District, Los Angeles County, California, General Obligation Bonds, Series 2003, 0.000%, 8/01/28 – AGM Insured
|
No Opt. Call
|
AA–
|
582,718
|
||||||
590
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39
|
11/19 at 100.00
|
Baa3
|
608,007
|
||||||
4,620
|
Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A, 0.000%, 8/01/24 – NPFG Insured
|
No Opt. Call
|
A+
|
2,862,552
|
28
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
California (continued)
|
||||||||||
$
|
4,400
|
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
|
No Opt. Call
|
A
|
$
|
1,766,952
|
||||
2,500
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
|
No Opt. Call
|
A+
|
741,700
|
||||||
2,755
|
Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2007, 0.000%, 7/01/25 – AGM Insured
|
No Opt. Call
|
A1
|
1,576,797
|
||||||
San Joaquin Delta Community College District, California, General Obligation Bonds, Election 2004 Series 2008B:
|
||||||||||
1,000
|
0.000%, 8/01/30 – AGM Insured
|
8/18 at 50.12
|
Aa2
|
393,870
|
||||||
1,890
|
0.000%, 8/01/31 – AGM Insured
|
8/18 at 47.14
|
Aa2
|
679,096
|
||||||
1,500
|
San Jose, California, Airport Revenue Bonds, Series 2004D, 5.000%, 3/01/28 – NPFG Insured
|
3/14 at 100.00
|
A
|
1,516,740
|
||||||
6,025
|
Simi Valley Unified School District, Ventura County, California, General Obligation Bonds, Series 2007C, 0.000%, 8/01/30
|
No Opt. Call
|
AA–
|
2,514,112
|
||||||
2,080
|
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.500%, 6/01/45
|
6/15 at 100.00
|
B–
|
1,578,970
|
||||||
60,620
|
Total California
|
30,327,311
|
||||||||
Colorado – 8.0%
|
||||||||||
500
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.500%, 7/01/34
|
7/19 at 100.00
|
AA–
|
544,355
|
||||||
1,975
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
1/20 at 100.00
|
AA
|
1,983,275
|
||||||
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2007, 5.250%, 5/15/42
|
5/17 at 100.00
|
BBB+
|
986,090
|
||||||
565
|
Denver City and County, Colorado, Airport System Revenue Bonds, Series 1991D, 7.750%, 11/15/13 (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
570,142
|
||||||
1,935
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43
|
11/23 at 100.00
|
A
|
1,936,413
|
||||||
3,000
|
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2003A, 5.000%, 12/01/23
(Pre-refunded 12/01/13) – SYNCORA GTY Insured |
12/13 at 100.00
|
N/R (4)
|
3,024,420
|
||||||
2,230
|
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2006, 4.750%, 12/01/35 – SYNCORA GTY Insured
|
11/16 at 100.00
|
BBB–
|
2,051,912
|
||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
||||||||||
5,140
|
0.000%, 9/01/24 – NPFG Insured
|
No Opt. Call
|
A
|
3,080,659
|
||||||
8,100
|
0.000%, 9/01/29 – NPFG Insured
|
No Opt. Call
|
A
|
3,398,922
|
||||||
4,475
|
0.000%, 9/01/33 – NPFG Insured
|
No Opt. Call
|
A
|
1,432,761
|
||||||
28,920
|
Total Colorado
|
19,008,949
|
||||||||
Florida – 1.5%
|
||||||||||
1,000
|
Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa General Hospital, Series 2006, 5.250%, 10/01/41
|
10/16 at 100.00
|
A3
|
1,008,140
|
||||||
2,500
|
JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 – AGM Insured
|
4/15 at 100.00
|
Aa2
|
2,550,300
|
||||||
3,500
|
Total Florida
|
3,558,440
|
||||||||
Georgia – 0.4%
|
||||||||||
1,000
|
Franklin County Industrial Building Authority, Georgia, Revenue Bonds, Ty Cobb Regional Medical Center Project, Series 2010, 8.125%, 12/01/45
|
12/20 at 100.00
|
N/R
|
1,034,570
|
||||||
Illinois – 12.5%
|
||||||||||
1,400
|
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 1999A, 0.000%, 4/01/23 – NPFG Insured
|
No Opt. Call
|
A
|
888,524
|
||||||
735
|
Chicago Board of Education, Cook County, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.000%, 12/01/41
|
12/21 at 100.00
|
A+
|
655,679
|
||||||
190
|
Chicago Metropolitan Housing Development Corporation, Illinois, FHA-Insured Section 8 Assisted Housing Development Revenue Refunding Bonds, Series 1992, 6.800%, 7/01/17
|
1/14 at 100.00
|
AA
|
190,705
|
Nuveen Investments
|
29
|
NXQ
|
Nuveen Select Tax-Free Income Portfolio 2 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Illinois (continued)
|
||||||||||
$
|
1,000
|
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%, 1/01/31 – AGM Insured
|
1/16 at 100.00
|
AA–
|
$
|
948,050
|
||||
590
|
Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%, 1/01/33 – AMBAC Insured
|
11/13 at 100.00
|
AA+
|
590,124
|
||||||
1,665
|
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2005A, 5.000%, 1/01/33 – FGIC Insured
|
1/16 at 100.00
|
A
|
1,638,593
|
||||||
1,050
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.242%, 7/01/15 (IF)
|
No Opt. Call
|
Aa1
|
1,063,041
|
||||||
200
|
Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%, 5/15/32 – NPFG Insured
|
5/17 at 100.00
|
AA–
|
200,546
|
||||||
2,185
|
Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%, 9/01/31 – RAAI Insured
|
9/15 at 100.00
|
Aa3
|
1,795,720
|
||||||
1,750
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30
|
8/18 at 100.00
|
BBB+
|
1,789,235
|
||||||
1,035
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., University Center Project, Series 2006B, 5.000%, 5/01/25
|
11/16 at 100.00
|
BBB+
|
1,024,195
|
||||||
1,000
|
Illinois Housing Development Authority, Housing Finance Bonds, Series 2005E, 4.750%, 7/01/30 – FGIC Insured
|
1/15 at 100.00
|
AA
|
1,038,580
|
||||||
2,190
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
|
No Opt. Call
|
A–
|
2,311,808
|
||||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
||||||||||
6,350
|
0.000%, 12/15/31 – NPFG Insured
|
No Opt. Call
|
AAA
|
2,253,996
|
||||||
1,350
|
0.000%, 6/15/35 – NPFG Insured
|
No Opt. Call
|
AAA
|
374,882
|
||||||
5,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,267,950
|
||||||
9,170
|
0.000%, 6/15/39 – NPFG Insured
|
No Opt. Call
|
AAA
|
2,000,986
|
||||||
5,045
|
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment, Series 2002A, 5.000%, 6/01/22 – RAAI Insured
|
11/13 at 100.00
|
N/R
|
4,575,109
|
||||||
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment, Series 2002B:
|
||||||||||
1,060
|
0.000%, 12/01/17 – RAAI Insured
|
No Opt. Call
|
N/R
|
869,401
|
||||||
1,135
|
0.000%, 12/01/18 – RAAI Insured
|
No Opt. Call
|
N/R
|
871,578
|
||||||
1,100
|
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 (Pre-refunded 12/01/14) – FGIC Insured
|
12/14 at 100.00
|
AAA
|
1,164,020
|
||||||
2,000
|
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22 – NPFG Insured
|
3/17 at 100.00
|
A
|
2,077,560
|
||||||
47,200
|
Total Illinois
|
29,590,282
|
||||||||
Indiana – 4.7%
|
||||||||||
1,000
|
Franklin Community Multi-School Building Corporation, Johnson County, Indiana, First Mortgage Revenue Bonds, Series 2004, 5.000%, 7/15/22 (Pre-refunded 7/15/14) – FGIC Insured
|
7/14 at 100.00
|
A+ (4)
|
1,038,220
|
||||||
1,600
|
Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B, 0.000%, 6/01/30 – AGM Insured
|
No Opt. Call
|
AA–
|
741,184
|
||||||
825
|
Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 2006B-5, 5.000%, 11/15/36
|
11/16 at 100.00
|
AA+
|
829,686
|
||||||
670
|
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Methodist Hospitals Inc., Series 2001, 5.375%, 9/15/22
|
3/14 at 100.00
|
BBB
|
670,784
|
||||||
1,000
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
A–
|
1,017,850
|
||||||
2,000
|
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – NPFG Insured
|
1/17 at 100.00
|
A+
|
2,006,980
|
||||||
750
|
West Clark 2000 School Building Corporation, Clark County, Indiana, First Mortgage Bonds, Series 2005, 5.000%, 7/15/22 – NPFG Insured
|
1/15 at 100.00
|
AA+
|
791,498
|
||||||
3,840
|
Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development Project, Series 2010, 6.000%, 1/15/19
|
No Opt. Call
|
N/R
|
4,102,656
|
||||||
11,685
|
Total Indiana
|
11,198,858
|
30
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Iowa – 1.6%
|
||||||||||
$
|
1,665
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19
|
No Opt. Call
|
BB–
|
$
|
1,621,810
|
||||
1,645
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.375%, 6/01/38
|
6/15 at 100.00
|
B+
|
1,319,866
|
||||||
1,000
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
B+
|
848,130
|
||||||
4,310
|
Total Iowa
|
3,789,806
|
||||||||
Kansas – 0.5%
|
||||||||||
795
|
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006, 4.875%, 7/01/36
|
7/16 at 100.00
|
A1
|
789,538
|
||||||
380
|
Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured
|
1/17 at 100.00
|
BB+
|
378,833
|
||||||
1,175
|
Total Kansas
|
1,168,371
|
||||||||
Kentucky – 1.1%
|
||||||||||
2,500
|
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2011, 5.250%, 8/15/46
|
8/21 at 100.00
|
AA–
|
2,542,575
|
||||||
Louisiana – 0.9%
|
||||||||||
2,020
|
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured
|
7/14 at 100.00
|
A (4)
|
2,092,538
|
||||||
Massachusetts – 0.9%
|
||||||||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.000%, 7/01/28
|
7/18 at 100.00
|
A–
|
509,805
|
||||||
970
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 – NPFG Insured (ETM)
|
No Opt. Call
|
A (4)
|
1,022,729
|
||||||
635
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 1993C, 5.250%, 12/01/15 – NPFG Insured
|
No Opt. Call
|
Aa1
|
668,680
|
||||||
2,105
|
Total Massachusetts
|
2,201,214
|
||||||||
Michigan – 3.1%
|
||||||||||
355
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
7/22 at 100.00
|
BBB+
|
321,563
|
||||||
2,500
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%, 7/01/31 – BHAC Insured
|
7/18 at 100.00
|
AA+
|
2,561,250
|
||||||
2,450
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%, 7/01/33 – FGIC Insured
|
7/16 at 100.00
|
A
|
2,229,133
|
||||||
2,060
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%, 7/01/25 – NPFG Insured
|
7/16 at 100.00
|
A
|
1,894,994
|
||||||
250
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39
|
9/18 at 100.00
|
A1
|
300,555
|
||||||
7,615
|
Total Michigan
|
7,307,495
|
||||||||
Minnesota – 0.5%
|
||||||||||
1,210
|
Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%, 7/01/38 (Alternative Minimum Tax)
|
7/16 at 100.00
|
AA+
|
1,206,455
|
||||||
Mississippi – 0.2%
|
||||||||||
500
|
Mississippi Development Bank, Revenue Bonds, Mississippi Municipal Energy Agency, Mississippi Power, Series 2006A, 5.000%, 3/01/21 – SYNCORA GTY Insured
|
3/16 at 100.00
|
Baa1
|
517,380
|
||||||
Missouri – 0.1%
|
||||||||||
270
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
|
10/18 at 100.00
|
AA+
|
288,657
|
Nuveen Investments
|
31
|
NXQ
|
Nuveen Select Tax-Free Income Portfolio 2 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Nevada – 2.9%
|
||||||||||
$
|
1,250
|
Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823, 20.185%, 1/01/36 (IF)
|
1/20 at 100.00
|
A+
|
$
|
1,794,250
|
||||
1,000
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
A+
|
1,027,790
|
||||||
1,600
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%, 6/01/18 – FGIC Insured
|
6/15 at 100.00
|
AA+
|
1,716,464
|
||||||
2,500
|
North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured
|
5/16 at 100.00
|
A
|
2,307,450
|
||||||
6,350
|
Total Nevada
|
6,845,954
|
||||||||
New Jersey – 1.1%
|
||||||||||
2,500
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center, Series 2003, 5.500%, 7/01/23
|
11/13 at 100.00
|
Ba2
|
2,500,700
|
||||||
New Mexico – 3.0%
|
||||||||||
1,000
|
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
968,180
|
||||||
University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico Hospital Project, Series 2004:
|
||||||||||
555
|
4.625%, 1/01/25 – AGM Insured
|
7/14 at 100.00
|
AA–
|
559,840
|
||||||
660
|
4.625%, 7/01/25 – AGM Insured
|
7/14 at 100.00
|
AA–
|
665,537
|
||||||
2,000
|
4.750%, 7/01/27 – AGM Insured
|
7/14 at 100.00
|
AA–
|
2,013,640
|
||||||
3,000
|
4.750%, 1/01/28 – AGM Insured
|
7/14 at 100.00
|
AA–
|
3,016,020
|
||||||
7,215
|
Total New Mexico
|
7,223,217
|
||||||||
New York – 7.3%
|
||||||||||
1,700
|
Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds, Kaleida Health, Series 2006, 4.700%, 2/15/35
|
8/16 at 100.00
|
AAA
|
1,665,099
|
||||||
2,075
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Education Series 2007C, 5.000%, 3/15/14
|
No Opt. Call
|
AAA
|
2,121,501
|
||||||
500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.250%, 2/15/47
|
2/21 at 100.00
|
A
|
511,140
|
||||||
1,805
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47 – FGIC Insured
|
2/17 at 100.00
|
A
|
1,811,245
|
||||||
1,250
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/26
|
11/22 at 100.00
|
A
|
1,368,875
|
||||||
2,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Series 2004B, 5.000%, 6/15/36 – AGM Insured (UB)
|
12/14 at 100.00
|
AAA
|
2,018,660
|
||||||
3,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series I, 5.000%, 5/01/38
|
5/23 at 100.00
|
AAA
|
3,149,010
|
||||||
3,485
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011E, 5.000%, 11/01/13
|
No Opt. Call
|
AAA
|
3,499,707
|
||||||
1,135
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
12/20 at 100.00
|
BBB
|
1,219,558
|
||||||
16,950
|
Total New York
|
17,364,795
|
||||||||
Ohio – 3.5%
|
||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||||
2,080
|
5.375%, 6/01/24
|
6/17 at 100.00
|
B–
|
1,821,560
|
||||||
795
|
5.125%, 6/01/24
|
6/17 at 100.00
|
B–
|
678,827
|
||||||
2,475
|
5.875%, 6/01/30
|
6/17 at 100.00
|
B
|
1,975,768
|
||||||
775
|
5.750%, 6/01/34
|
6/17 at 100.00
|
B
|
590,457
|
||||||
2,680
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B
|
2,018,522
|
||||||
1,105
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48
|
2/23 at 100.00
|
A+
|
1,116,039
|
||||||
9,910
|
Total Ohio
|
8,201,173
|
32
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Oklahoma – 1.7%
|
||||||||||
$
|
1,000
|
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 5.375%, 9/01/36
|
9/16 at 100.00
|
BBB–
|
$
|
948,250
|
||||
3,000
|
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007, 5.000%, 2/15/42
|
2/17 at 100.00
|
A+
|
3,041,160
|
||||||
4,000
|
Total Oklahoma
|
3,989,410
|
||||||||
Pennsylvania – 0.6%
|
||||||||||
1,500
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010B, 0.000%, 12/01/30
|
12/20 at 100.00
|
AA
|
1,368,360
|
||||||
Puerto Rico – 1.7%
|
||||||||||
1,035
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 5.000%, 12/01/20
|
12/13 at 100.00
|
AA–
|
1,043,384
|
||||||
1,965
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 5.000%, 12/01/20 (Pre-refunded 12/01/13)
|
12/13 at 100.00
|
Aaa
|
1,981,192
|
||||||
15,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
AA–
|
1,029,450
|
||||||
18,000
|
Total Puerto Rico
|
4,054,026
|
||||||||
Rhode Island – 2.4%
|
||||||||||
5,835
|
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.250%, 6/01/42
|
11/13 at 100.00
|
BBB–
|
5,712,582
|
||||||
South Carolina – 3.0%
|
||||||||||
475
|
College of Charleston, South Carolina, Academic and Administrative Facilities Revenue Bonds, Series 2004B, 5.125%, 4/01/30 (Pre-refunded 4/01/14) – SYNCORA GTY Insured
|
4/14 at 100.00
|
A1 (4)
|
486,652
|
||||||
700
|
Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, GROWTH, Series 2004, 5.250%, 12/01/20 (Pre-refunded 12/01/14)
|
12/14 at 100.00
|
AA– (4)
|
740,348
|
||||||
2,500
|
Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement Bonds, Series 2003, 6.000%, 11/01/18 (Pre-refunded 11/01/13)
|
11/13 at 100.00
|
AA– (4)
|
2,512,575
|
||||||
Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds, Series 2004A:
|
||||||||||
500
|
5.250%, 8/15/20 (Pre-refunded 8/15/14) – NPFG Insured
|
8/14 at 100.00
|
A (4)
|
521,520
|
||||||
2,735
|
5.250%, 2/15/21 (Pre-refunded 8/15/14) – NPFG Insured
|
8/14 at 100.00
|
A (4)
|
2,852,714
|
||||||
6,910
|
Total South Carolina
|
7,113,809
|
||||||||
South Dakota – 0.4%
|
||||||||||
1,000
|
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley Hospitals, Series 2004A, 5.250%, 11/01/34
|
11/14 at 100.00
|
A+
|
1,003,560
|
||||||
Texas – 13.3%
|
||||||||||
1,500
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%, 1/01/45 (Pre-refunded 1/01/15) – FGIC Insured
|
1/15 at 100.00
|
A (4)
|
1,587,600
|
||||||
250
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41
|
1/21 at 100.00
|
Baa2
|
253,195
|
||||||
5,560
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.500%, 4/01/53
|
10/23 at 100.00
|
BBB+
|
5,551,104
|
||||||
2,500
|
Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas Children’s Hospital, Series 1995, 5.500%, 10/01/16 – NPFG Insured (ETM)
|
No Opt. Call
|
A (4)
|
2,722,850
|
||||||
3,000
|
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO Project, Series 2003, 5.000%, 11/15/30 (Pre-refunded 11/15/13) – NPFG Insured
|
11/13 at 100.00
|
AA (4)
|
3,017,910
|
||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
|
||||||||||
510
|
0.000%, 11/15/24 – NPFG Insured
|
No Opt. Call
|
A
|
265,639
|
||||||
12,050
|
0.000%, 11/15/41 – NPFG Insured
|
11/31 at 53.78
|
A
|
1,862,569
|
||||||
575
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B, 0.000%, 9/01/24 – AMBAC Insured
|
No Opt. Call
|
A2
|
343,160
|
||||||
1,400
|
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2005, 5.375%, 8/15/35
|
2/16 at 100.00
|
BBB–
|
1,401,456
|
Nuveen Investments
|
33
|
NXQ
|
Nuveen Select Tax-Free Income Portfolio 2 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Texas (continued)
|
||||||||||
$
|
335
|
Live Oak, Texas, General Obligation Bonds, Series 2004, 5.250%, 8/01/20 – NPFG Insured
|
8/14 at 100.00
|
Aa3
|
$
|
342,166
|
||||
2,255
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
BBB–
|
2,229,180
|
||||||
2,500
|
Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, Series 2004, 6.000%, 12/01/34
|
12/13 at 100.00
|
A+
|
2,516,075
|
||||||
1,000
|
San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 – NPFG Insured
|
5/15 at 100.00
|
AA+
|
1,035,020
|
||||||
5,000
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/26
|
No Opt. Call
|
A3
|
5,064,850
|
||||||
1,425
|
Texas State University System, Financing Revenue Bonds, Refunding Series 2006, 5.000%, 3/15/28 – AGM Insured
|
3/16 at 100.00
|
Aa2
|
1,522,356
|
||||||
945
|
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, Second Tier Series 2002, 0.000%, 8/15/35 – AMBAC Insured
|
8/14 at 28.37
|
A–
|
255,434
|
||||||
1,560
|
Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2003A, 5.125%, 8/01/42 (Alternative Minimum Tax)
|
11/13 at 100.00
|
AAA
|
1,560,343
|
||||||
42,365
|
Total Texas
|
31,530,907
|
||||||||
Utah – 1.3%
|
||||||||||
1,435
|
Salt Lake City and Sandy Metropolitan Water District, Utah, Water Revenue Bonds, Series 2004, 5.000%, 7/01/21 (Pre-refunded 7/01/14) – AMBAC Insured
|
7/14 at 100.00
|
AA+ (4)
|
1,487,277
|
||||||
5,465
|
Utah Transit Authority, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 6/15/36
|
6/17 at 38.77
|
A1
|
1,518,450
|
||||||
6,900
|
Total Utah
|
3,005,727
|
||||||||
Vermont – 0.0%
|
||||||||||
85
|
Vermont Housing Finance Agency, Multifamily Housing Bonds, Series 1999C, 5.800%, 8/15/16 – AGM Insured
|
2/14 at 100.00
|
AA–
|
85,257
|
||||||
Virginia – 3.3%
|
||||||||||
1,000
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
|
11/13 at 100.00
|
BBB
|
990,130
|
||||||
1,500
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
|
10/26 at 100.00
|
AA–
|
1,385,160
|
||||||
2,500
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
2,209,100
|
||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
|
||||||||||
1,000
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
943,850
|
||||||
500
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
501,630
|
||||||
1,010
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
948,080
|
||||||
1,000
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds, Series 2007A, 5.250%, 9/01/37
|
9/17 at 100.00
|
BBB+
|
963,690
|
||||||
8,510
|
Total Virginia
|
7,941,640
|
||||||||
Washington – 0.4%
|
||||||||||
990
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35
|
1/21 at 100.00
|
A
|
1,015,968
|
||||||
Wisconsin – 1.5%
|
||||||||||
2,000
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39
|
10/21 at 100.00
|
A+
|
2,034,720
|
||||||
1,646
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012, 5.000%, 6/01/39
|
6/22 at 100.00
|
A2
|
1,622,644
|
||||||
3,646
|
Total Wisconsin
|
3,657,364
|
||||||||
$
|
323,861
|
Total Municipal Bonds (cost $233,191,090)
|
234,742,216
|
34
|
Nuveen Investments
|
Principal
|
|||||||||||
Amount (000)
|
Description (1)
|
Coupon
|
Maturity
|
Ratings (3)
|
Value
|
||||||
CORPORATE BONDS – 0.0%
|
|||||||||||
Transportation – 0.0%
|
|||||||||||
$
|
302
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
5.500%
|
7/15/19
|
N/R
|
$
|
45,671
|
||||
87
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
3.000%
|
7/15/55
|
N/R
|
8,818
|
||||||
$
|
389
|
Total Corporate Bonds (cost $11,438)
|
54,489
|
||||||||
Total Long-Term Investments (cost $233,202,528)
|
234,796,705
|
||||||||||
Floating Rate Obligations – (0.4)%
|
(1,000,000
|
)
|
|||||||||
Other Assets Less Liabilities – 1.6%
|
3,801,794
|
||||||||||
Net Assets – 100%
|
$
|
237,598,499
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.
|
(6)
|
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either senior interest corporate bond.
|
(ETM)
|
Escrowed to maturity.
|
(IF)
|
Inverse floating rate investment.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
35
|
NXR
|
|
Nuveen Select Tax-Free Income Portfolio 3
|
|
Portfolio of Investments
|
|
September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
LONG-TERM INVESTMENTS – 99.4%
|
||||||||||
MUNICIPAL BONDS – 99.4%
|
||||||||||
Alaska – 1.1%
|
||||||||||
$
|
2,675
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32
|
6/14 at 100.00
|
B2
|
$
|
2,052,929
|
||||
California – 17.5%
|
||||||||||
12,500
|
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured
|
No Opt. Call
|
AA–
|
3,406,375
|
||||||
1,000
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36
|
12/18 at 100.00
|
BB–
|
817,590
|
||||||
1,125
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 5.000%, 6/01/26
|
6/15 at 100.00
|
B–
|
1,016,786
|
||||||
2,595
|
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.000%, 4/01/37
|
4/16 at 100.00
|
A+
|
2,599,515
|
||||||
890
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38
|
8/19 at 100.00
|
Aa2
|
1,034,848
|
||||||
290
|
California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29
|
11/13 at 100.00
|
BBB
|
280,181
|
||||||
2,275
|
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/28 – NPFG Insured
|
No Opt. Call
|
A+
|
1,005,072
|
||||||
2,885
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/28 – AMBAC Insured
|
No Opt. Call
|
A2
|
1,484,736
|
||||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
||||||||||
750
|
4.500%, 6/01/27
|
6/17 at 100.00
|
B
|
649,178
|
||||||
2,090
|
5.000%, 6/01/33
|
6/17 at 100.00
|
B
|
1,619,144
|
||||||
4,055
|
Kern Community College District, California, General Obligation Bonds, Series 2003A, 0.000%, 3/01/28 – FGIC Insured
|
No Opt. Call
|
Aa2
|
2,017,606
|
||||||
1,160
|
Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
|
8/35 at 100.00
|
AA
|
546,000
|
||||||
11,985
|
Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2002, Series 2007C, 0.000%, 8/01/32 – AGM Insured
|
No Opt. Call
|
AA–
|
4,328,982
|
||||||
3,000
|
Palomar Pomerado Health, California, General Obligation Bonds, Election of 2004, Series 2007A, 0.000%, 8/01/25 – NPFG Insured
|
No Opt. Call
|
A+
|
1,728,930
|
||||||
8,040
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured
|
No Opt. Call
|
A+
|
2,385,307
|
||||||
1,500
|
Placer Union High School District, Placer County, California, General Obligation Bonds, Series 2004C, 0.000%, 8/01/32 – AGM Insured
|
No Opt. Call
|
AA
|
548,790
|
||||||
8,000
|
Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2009A, 0.000%, 8/01/32
|
No Opt. Call
|
Aa2
|
2,964,720
|
||||||
3,940
|
Rancho Mirage Redevelopment Agency, California, Tax Allocation Bonds, Combined Whitewater and 1984 Project Areas, Series 2003A, 0.000%, 4/01/35 – NPFG Insured
|
No Opt. Call
|
A+
|
1,116,754
|
||||||
1,030
|
Riverside Public Financing Authority, California, Tax Allocation Bonds, University Corridor, Series 2007C, 5.000%, 8/01/37 – NPFG Insured
|
8/17 at 100.00
|
A
|
945,983
|
||||||
1,250
|
San Jose, California, Airport Revenue Bonds, Series 2004D, 5.000%, 3/01/28 – NPFG Insured
|
3/14 at 100.00
|
A
|
1,263,950
|
||||||
70,360
|
Total California
|
31,760,447
|
36
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Colorado – 7.0%
|
||||||||||
$
|
1,540
|
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 – SYNCORA GTY Insured
|
10/16 at 100.00
|
BBB–
|
$
|
1,415,337
|
||||
400
|
Colorado Department of Transportation, Certificates of Participation, Series 2004, 5.000%, 6/15/34 (Pre-refunded 6/15/14) – NPFG Insured
|
6/14 at 100.00
|
AA– (4)
|
413,688
|
||||||
2,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
1/20 at 100.00
|
AA
|
2,008,380
|
||||||
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital Association, Series 2007, 5.250%, 5/15/42
|
5/17 at 100.00
|
BBB+
|
986,090
|
||||||
475
|
Denver City and County, Colorado, Airport System Revenue Bonds, Series 1991D, 7.750%, 11/15/13 (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
479,323
|
||||||
1,935
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43
|
11/23 at 100.00
|
A
|
1,936,413
|
||||||
3,000
|
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2003A, 5.000%, 12/01/24
(Pre-refunded 12/01/13) – SYNCORA GTY Insured |
12/13 at 100.00
|
N/R (4)
|
3,024,420
|
||||||
5,520
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/28 – NPFG Insured
|
9/20 at 63.98
|
A
|
2,439,564
|
||||||
15,870
|
Total Colorado
|
12,703,215
|
||||||||
District of Columbia – 0.1%
|
||||||||||
240
|
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.250%, 5/15/24
|
11/13 at 100.00
|
A1
|
242,347
|
||||||
Florida – 1.8%
|
||||||||||
2,340
|
Collier County, Florida, Special Obligation Revenue Bonds, Refunding Series 2012, 4.000%, 10/01/13
|
No Opt. Call
|
AA
|
2,340,257
|
||||||
1,000
|
Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa General Hospital, Series 2006, 5.250%, 10/01/41
|
10/16 at 100.00
|
A3
|
1,008,140
|
||||||
3,340
|
Total Florida
|
3,348,397
|
||||||||
Illinois – 13.3%
|
||||||||||
3,500
|
Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/28 – FGIC Insured
|
No Opt. Call
|
A+
|
1,379,035
|
||||||
15
|
Chicago Metropolitan Housing Development Corporation, Illinois, FHA-Insured Section 8 Assisted Housing Development Revenue Refunding Bonds, Series 1992, 6.850%, 7/01/22
|
1/14 at 100.00
|
AA
|
15,038
|
||||||
2,000
|
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%, 1/01/31 – AGM Insured
|
1/16 at 100.00
|
AA–
|
1,896,100
|
||||||
1,050
|
Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.242%, 7/01/15 (IF)
|
No Opt. Call
|
Aa1
|
1,063,041
|
||||||
260
|
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43
|
7/23 at 100.00
|
A–
|
268,793
|
||||||
2,185
|
Illinois Finance Authority, Revenue Bonds, YMCA of Southwest Illinois, Series 2005, 5.000%, 9/01/31 – RAAI Insured
|
9/15 at 100.00
|
Aa3
|
1,795,720
|
||||||
750
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., University Center Project, Series 2006B, 5.000%, 5/01/25
|
11/16 at 100.00
|
BBB+
|
742,170
|
||||||
1,500
|
Illinois Health Facilities Authority, Revenue Bonds, Evangelical Hospitals Corporation, Series 1992C, 6.250%, 4/15/22 (ETM)
|
No Opt. Call
|
N/R (4)
|
1,857,255
|
||||||
2,255
|
Illinois Health Facilities Authority, Revenue Refunding Bonds, Elmhurst Memorial Healthcare, Series 2002, 6.250%, 1/01/17
|
11/13 at 100.00
|
Baa2
|
2,263,682
|
||||||
1,675
|
Illinois Housing Development Authority, Homeowner Mortgage Revenue Bonds, Series 2006C2, 5.050%, 8/01/27 (Alternative Minimum Tax)
|
2/16 at 100.00
|
AA
|
1,700,996
|
||||||
2,190
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
|
No Opt. Call
|
A–
|
2,311,808
|
||||||
1,000
|
Kankakee & Will Counties Community Unit School District 5, Illinois, General Obligation Bonds, Series 2006, 0.000%, 5/01/23 – AGM Insured
|
No Opt. Call
|
Aa3
|
671,380
|
Nuveen Investments
|
37
|
NXR
|
Nuveen Select Tax-Free Income Portfolio 3 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Illinois (continued)
|
||||||||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
||||||||||
$
|
2,500
|
0.000%, 12/15/30 – NPFG Insured
|
No Opt. Call
|
AAA
|
$
|
955,200
|
||||
4,775
|
0.000%, 12/15/31 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,694,934
|
||||||
5,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AAA
|
1,267,950
|
||||||
2,000
|
0.000%, 6/15/37 – NPFG Insured
|
No Opt. Call
|
AAA
|
491,280
|
||||||
1,300
|
Schaumburg, Illinois, General Obligation Bonds, Series 2004B, 5.250%, 12/01/34 (Pre-refunded 12/01/14) – FGIC Insured
|
12/14 at 100.00
|
AAA
|
1,375,660
|
||||||
2,000
|
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22 – NPFG Insured
|
3/17 at 100.00
|
A
|
2,077,560
|
||||||
310
|
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42
|
10/23 at 100.00
|
A
|
314,948
|
||||||
36,265
|
Total Illinois
|
24,142,550
|
||||||||
Indiana – 4.6%
|
||||||||||
1,000
|
Franklin Community Multi-School Building Corporation, Johnson County, Indiana, First Mortgage Revenue Bonds, Series 2004, 5.000%, 7/15/22 (Pre-refunded 7/15/14) – FGIC Insured
|
7/14 at 100.00
|
A+ (4)
|
1,038,220
|
||||||
3,520
|
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Methodist Hospitals Inc., Series 2001, 5.375%, 9/15/22
|
3/14 at 100.00
|
BBB
|
3,524,118
|
||||||
840
|
Indiana Health Facility Financing Authority, Hospital Revenue Refunding Bonds, Columbus Regional Hospital, Series 1993, 7.000%, 8/15/15 – AGM Insured
|
No Opt. Call
|
AA–
|
896,129
|
||||||
2,295
|
Shelbyville Central Renovation School Building Corporation, Indiana, First Mortgage Bonds, Series 2005, 4.375%, 7/15/25 – NPFG Insured
|
7/15 at 100.00
|
AA+
|
2,365,984
|
||||||
1,000
|
Zionsville Community Schools Building Corporation, Indiana, First Mortgage Bonds, Series 2005Z, 0.000%, 7/15/28 – AGM Insured
|
No Opt. Call
|
AA–
|
523,790
|
||||||
8,655
|
Total Indiana
|
8,348,241
|
||||||||
Iowa – 2.7%
|
||||||||||
2,745
|
Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A, 5.000%, 7/01/20
|
7/16 at 100.00
|
BB+
|
2,762,321
|
||||||
1,330
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19
|
No Opt. Call
|
BB–
|
1,295,500
|
||||||
950
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
B+
|
805,724
|
||||||
5,025
|
Total Iowa
|
4,863,545
|
||||||||
Kansas – 1.2%
|
||||||||||
Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Refunding Series 2006:
|
||||||||||
1,425
|
5.125%, 7/01/26
|
7/16 at 100.00
|
A1
|
1,455,495
|
||||||
700
|
4.875%, 7/01/36
|
7/16 at 100.00
|
A1
|
695,191
|
||||||
2,125
|
Total Kansas
|
2,150,686
|
||||||||
Maryland – 0.3%
|
||||||||||
550
|
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%, 9/01/23 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
549,973
|
||||||
Michigan – 2.3%
|
||||||||||
355
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
7/22 at 100.00
|
BBB+
|
321,563
|
||||||
3,510
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 4.625%, 7/01/34 – FGIC Insured
|
7/16 at 100.00
|
A
|
3,027,094
|
||||||
640
|
Detroit, Michigan, Water Supply System Second Lien Revenue Refunding Bonds, Series 2006C, 5.000%, 7/01/33 – AGM Insured
|
No Opt. Call
|
AA–
|
589,382
|
||||||
250
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39
|
9/18 at 100.00
|
A1
|
300,555
|
||||||
4,755
|
Total Michigan
|
4,238,594
|
38
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Mississippi – 0.4%
|
||||||||||
$
|
725
|
Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2004B-1, 5.000%, 9/01/24
|
9/14 at 100.00
|
AA–
|
$
|
750,571
|
||||
Missouri – 0.2%
|
||||||||||
270
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
|
10/18 at 100.00
|
AA+
|
288,657
|
||||||
Montana – 0.8%
|
||||||||||
1,440
|
Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Camposite Deal Series 2010A, 4.750%, 1/01/40
|
1/20 at 100.00
|
AA
|
1,443,758
|
||||||
Nevada – 2.8%
|
||||||||||
1,000
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42
|
1/20 at 100.00
|
A+
|
1,027,790
|
||||||
1,625
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Series 2005A, 5.000%, 6/01/18 – FGIC Insured
|
6/15 at 100.00
|
AA+
|
1,743,284
|
||||||
2,500
|
North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured
|
5/16 at 100.00
|
A
|
2,307,450
|
||||||
5,125
|
Total Nevada
|
5,078,524
|
||||||||
New Jersey – 1.2%
|
||||||||||
4,570
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/28 – AMBAC Insured
|
No Opt. Call
|
A+
|
2,099,595
|
||||||
New Mexico – 2.8%
|
||||||||||
1,000
|
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
|
9/17 at 100.00
|
N/R
|
968,180
|
||||||
4,000
|
University of New Mexico, FHA-Insured Hospital Mortgage Revenue Bonds, University of Mexico Hospital Project, Series 2004, 4.625%, 1/01/25 – AGM Insured
|
7/14 at 100.00
|
AA–
|
4,034,880
|
||||||
5,000
|
Total New Mexico
|
5,003,060
|
||||||||
New York – 6.4%
|
||||||||||
1,025
|
Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds, Kaleida Health, Series 2006, 4.700%, 2/15/35
|
8/16 at 100.00
|
AAA
|
1,003,957
|
||||||
3,750
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2004A, 5.000%, 9/01/34 – BHAC Insured
|
9/14 at 100.00
|
AA+
|
3,852,563
|
||||||
2,385
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2010A, 5.000%, 5/01/14
|
No Opt. Call
|
A–
|
2,447,249
|
||||||
1,250
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/26
|
11/22 at 100.00
|
A
|
1,368,875
|
||||||
2,500
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007B, 4.750%, 11/01/27
|
5/17 at 100.00
|
AAA
|
2,664,125
|
||||||
265
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
12/20 at 100.00
|
BBB
|
284,743
|
||||||
11,175
|
Total New York
|
11,621,512
|
||||||||
Ohio – 3.9%
|
||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
||||||||||
1,345
|
5.375%, 6/01/24
|
6/17 at 100.00
|
B–
|
1,177,884
|
||||||
1,465
|
6.000%, 6/01/42
|
6/17 at 100.00
|
BB+
|
1,123,977
|
||||||
435
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B
|
327,633
|
||||||
3,720
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37
|
6/22 at 100.00
|
B
|
2,966,886
|
||||||
1,475
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48
|
2/23 at 100.00
|
A+
|
1,489,735
|
||||||
8,440
|
Total Ohio
|
7,086,115
|
Nuveen Investments
|
39
|
NXR
|
Nuveen Select Tax-Free Income Portfolio 3 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Oklahoma – 1.7%
|
||||||||||
$
|
3,000
|
Oklahoma Development Finance Authority, Revenue Bonds, St. John Health System, Series 2004, 5.000%, 2/15/24 (Pre-refunded 2/15/14)
|
2/14 at 100.00
|
A+ (4)
|
$
|
3,053,520
|
||||
Pennsylvania – 2.3%
|
||||||||||
2,435
|
Dauphin County Industrial Development Authority, Pennsylvania, Water Development Revenue Refunding Bonds, Dauphin Consolidated Water Supply Company, Series 1992B, 6.700%, 6/01/17
|
No Opt. Call
|
A–
|
2,821,873
|
||||||
500
|
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2003, 5.250%, 7/15/24
|
11/13 at 100.00
|
A–
|
501,570
|
||||||
1,000
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010B, 0.000%, 12/01/30
|
12/20 at 100.00
|
AA
|
912,240
|
||||||
3,935
|
Total Pennsylvania
|
4,235,683
|
||||||||
Puerto Rico – 2.4%
|
||||||||||
945
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/31 – AMBAC Insured
|
No Opt. Call
|
BBB
|
728,123
|
||||||
1,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42
|
8/19 at 100.00
|
A+
|
815,830
|
||||||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
|
||||||||||
1,170
|
0.000%, 8/01/40 – NPFG Insured
|
No Opt. Call
|
AA–
|
205,043
|
||||||
12,000
|
0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,975,080
|
||||||
9,015
|
0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
AA–
|
618,699
|
||||||
24,130
|
Total Puerto Rico
|
4,342,775
|
||||||||
Rhode Island – 0.6%
|
||||||||||
1,150
|
Rhode Island Economic Development Corporation, Airport Revenue Bonds, Refunding Series 2005A, 4.625%, 7/01/26 – NPFG Insured (Alternative Minimum Tax)
|
7/15 at 100.00
|
A
|
1,134,165
|
||||||
South Carolina – 1.7%
|
||||||||||
1,500
|
Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement Bonds, Series 2003, 6.000%, 11/01/18 (Pre-refunded 11/01/13)
|
11/13 at 100.00
|
AA– (4)
|
1,507,545
|
||||||
1,500
|
Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds, Series 2004A, 5.250%, 8/15/20 (Pre-refunded 8/15/14) – NPFG Insured
|
8/14 at 100.00
|
A (4)
|
1,564,560
|
||||||
3,000
|
Total South Carolina
|
3,072,105
|
||||||||
South Dakota – 0.5%
|
||||||||||
1,000
|
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sioux Valley Hospitals, Series 2004A, 5.250%, 11/01/34
|
11/14 at 100.00
|
A+
|
1,003,560
|
||||||
Texas – 11.5%
|
||||||||||
1,500
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%, 1/01/45 (Pre-refunded 1/01/15) – FGIC Insured
|
1/15 at 100.00
|
A (4)
|
1,587,600
|
||||||
250
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41
|
1/21 at 100.00
|
Baa2
|
253,195
|
||||||
4,640
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.500%, 4/01/53
|
10/23 at 100.00
|
BBB+
|
4,632,576
|
||||||
2,500
|
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO Project, Series 2003, 5.000%, 11/15/30 (Pre-refunded 11/15/13) – NPFG Insured
|
11/13 at 100.00
|
AA (4)
|
2,514,925
|
||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
|
||||||||||
1,095
|
0.000%, 11/15/32 – NPFG Insured
|
11/31 at 94.05
|
A
|
319,817
|
||||||
2,510
|
0.000%, 11/15/36 – NPFG Insured
|
11/31 at 73.51
|
A
|
548,008
|
40
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Texas (continued)
|
||||||||||
$
|
2,035
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/32 – NPFG Insured
|
11/24 at 62.70
|
A
|
$
|
594,362
|
||||
Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Refunding Bonds, Series 2001A:
|
||||||||||
2,695
|
0.000%, 11/15/34 – NPFG Insured
|
11/30 at 78.27
|
A
|
728,405
|
||||||
4,095
|
0.000%, 11/15/38 – NPFG Insured
|
11/30 at 61.17
|
A
|
822,890
|
||||||
1,275
|
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2005, 5.375%, 8/15/35
|
2/16 at 100.00
|
BBB–
|
1,276,326
|
||||||
2,255
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
11/20 at 100.00
|
BBB–
|
2,229,180
|
||||||
290
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation Series 2008I, 0.000%, 1/01/42 – AGC Insured
|
1/25 at 100.00
|
AA–
|
303,807
|
||||||
2,000
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/32
|
No Opt. Call
|
A3
|
1,897,940
|
||||||
2,410
|
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 – AMBAC Insured
|
No Opt. Call
|
A–
|
1,358,903
|
||||||
1,750
|
Texas, General Obligation Bonds, Water Financial Assistance Program, Series 2003A, 5.125%, 8/01/42 (Alternative Minimum Tax)
|
11/13 at 100.00
|
AAA
|
1,750,385
|
||||||
31,300
|
Total Texas
|
20,818,319
|
||||||||
Utah – 0.8%
|
||||||||||
5,465
|
Utah Transit Authority, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 6/15/36
|
6/17 at 38.77
|
A1
|
1,518,450
|
||||||
Virginia – 3.3%
|
||||||||||
3,500
|
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital Appreciation Series 2012B, 0.000%, 7/15/32
|
7/28 at 100.00
|
BBB
|
1,719,795
|
||||||
1,000
|
Henrico County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster Canterbury of Richmond, Series 2006, 5.000%, 10/01/35
|
11/13 at 100.00
|
BBB
|
990,130
|
||||||
1,500
|
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012A, 5.125%, 7/01/49
|
No Opt. Call
|
BBB–
|
1,325,460
|
||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:
|
||||||||||
500
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
501,630
|
||||||
1,510
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB–
|
1,417,437
|
||||||
8,010
|
Total Virginia
|
5,954,452
|
||||||||
Washington – 2.8%
|
||||||||||
990
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35
|
1/21 at 100.00
|
A
|
1,015,968
|
||||||
4,000
|
Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2012A, 5.000%, 10/01/32
|
10/22 at 100.00
|
AA
|
4,049,880
|
||||||
4,990
|
Total Washington
|
5,065,848
|
||||||||
Wisconsin – 1.4%
|
||||||||||
1,250
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B, 5.000%, 2/15/32
|
2/22 at 100.00
|
A–
|
1,246,213
|
||||||
1,325
|
Wisconsin, General Obligation Refunding Bonds, Series 2003-3, 5.000%, 11/01/26
|
11/13 at 100.00
|
AA
|
1,330,321
|
||||||
2,575
|
Total Wisconsin
|
2,576,534
|
||||||||
$
|
275,160
|
Total Municipal Bonds (cost $176,864,784)
|
180,548,127
|
Nuveen Investments
|
41
|
NXR
|
Nuveen Select Tax-Free Income Portfolio 3 (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
|||||||||||
Amount (000)
|
Description (1)
|
Coupon
|
Maturity
|
Ratings (3)
|
Value
|
||||||
CORPORATE BONDS – 0.0%
|
|||||||||||
Transportation – 0.0%
|
|||||||||||
$
|
85
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
5.500%
|
7/15/19
|
N/R
|
$
|
12,870
|
||||
25
|
Las Vegas Monorail Company, Senior Interest Bonds (5), (6)
|
3.000%
|
7/15/55
|
N/R
|
2,485
|
||||||
$
|
110
|
Total Corporate Bonds (cost $3,223)
|
15,355
|
||||||||
Total Long-Term Investments (cost $176,868,007)
|
180,563,482
|
||||||||||
Other Assets Less Liabilities – 0.6%
|
1,170,236
|
||||||||||
Net Assets – 100%
|
$
|
181,733,718
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(5)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.
|
(6)
|
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund’s custodian is not accruing income on the Fund’s records for either senior interest corporate bond.
|
(ETM)
|
Escrowed to maturity.
|
(IF)
|
Inverse floating rate investment.
|
42
|
Nuveen Investments
|
NXC
|
|
Nuveen California Select Tax-Free Income Portfolio
|
|
Portfolio of Investments
|
|
September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
LONG-TERM INVESTMENTS – 98.3%
|
||||||||||
MUNICIPAL BONDS – 98.3%
|
||||||||||
Consumer Staples – 3.8%
|
||||||||||
$
|
95
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21
|
6/15 at 100.00
|
BB+
|
$
|
89,690
|
||||
385
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Revenue Bonds, Fresno County Tobacco Funding Corporation, Series 2002, 5.625%, 6/01/23
|
11/13 at 100.00
|
A3
|
385,982
|
||||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
||||||||||
1,065
|
5.750%, 6/01/47
|
6/17 at 100.00
|
B
|
821,477
|
||||||
1,885
|
5.125%, 6/01/47
|
6/17 at 100.00
|
B
|
1,320,744
|
||||||
1,095
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37
|
6/22 at 100.00
|
B
|
825,028
|
||||||
4,525
|
Total Consumer Staples
|
3,442,921
|
||||||||
Education and Civic Organizations – 3.9%
|
||||||||||
3,000
|
California Educational Facilities Authority, Revenue Bonds, Santa Clara University, Series 2008A, 5.625%, 4/01/37
|
4/18 at 100.00
|
Aa3
|
3,201,600
|
||||||
45
|
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 5.000%, 10/01/35
|
10/15 at 100.00
|
A3
|
45,362
|
||||||
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:
|
||||||||||
35
|
5.000%, 11/01/21
|
11/15 at 100.00
|
A2
|
36,683
|
||||||
45
|
5.000%, 11/01/25
|
11/15 at 100.00
|
A2
|
46,496
|
||||||
250
|
California Statewide Communities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46
|
7/21 at 100.00
|
BBB–
|
261,350
|
||||||
3,375
|
Total Education and Civic Organizations
|
3,591,491
|
||||||||
Health Care – 9.3%
|
||||||||||
235
|
California Health Facilities Financing Authority, Revenue Bonds, Rady Children’s Hospital – San Diego, Series 2011, 5.250%, 8/15/41
|
8/21 at 100.00
|
A+
|
241,775
|
||||||
2,550
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A, 5.250%, 11/15/46 (UB)
|
11/16 at 100.00
|
AA–
|
2,561,756
|
||||||
425
|
California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los Angeles, Series 2007, 5.000%, 8/15/47
|
8/17 at 100.00
|
BBB+
|
381,778
|
||||||
545
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31
|
8/16 at 100.00
|
A+
|
553,486
|
||||||
1,505
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2007A, 4.750%, 4/01/33
|
4/17 at 100.00
|
A+
|
1,492,719
|
||||||
540
|
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38
|
12/17 at 100.00
|
BBB
|
591,338
|
||||||
1,100
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41
|
11/20 at 100.00
|
Baa3
|
1,070,828
|
||||||
670
|
San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41
|
12/21 at 100.00
|
BB
|
734,528
|
||||||
800
|
Upland, California, Certificates of Participation, San Antonio Community Hospital, Series 2011, 6.500%, 1/01/41
|
1/21 at 100.00
|
A
|
877,008
|
||||||
8,370
|
Total Health Care
|
8,505,216
|
Nuveen Investments
|
43
|
NXC
|
Nuveen California Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Housing/Multifamily – 0.8%
|
||||||||||
$
|
375
|
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45
|
8/20 at 100.00
|
BBB
|
$
|
388,823
|
||||
395
|
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47
|
8/22 at 100.00
|
BBB
|
385,492
|
||||||
770
|
Total Housing/Multifamily
|
774,315
|
||||||||
Housing/Single Family – 0.1%
|
||||||||||
40
|
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 – FGIC Insured (Alternative Minimum Tax)
|
2/16 at 100.00
|
BBB
|
41,829
|
||||||
Industrials – 1.2%
|
||||||||||
1,015
|
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc., Series 2002C, 5.250%, 6/01/23 (Mandatory put 12/01/17) (Alternative Minimum Tax)
|
No Opt. Call
|
BBB
|
1,089,623
|
||||||
Tax Obligation/General – 38.3%
|
||||||||||
750
|
California State, General Obligation Bonds, Series 2004, 5.000%, 2/01/23
|
2/14 at 100.00
|
A1
|
760,853
|
||||||
1,650
|
California State, General Obligation Bonds, Various Purpose Series 2009, 5.500%, 11/01/39
|
11/19 at 100.00
|
A1
|
1,776,011
|
||||||
1,965
|
California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41
|
10/21 at 100.00
|
A1
|
2,011,846
|
||||||
2,000
|
California State, General Obligation Bonds, Various Purpose Series 2012, 5.250%, 4/01/35
|
4/22 at 100.00
|
A1
|
2,120,960
|
||||||
6,225
|
Escondido Union High School District, San Diego County, California, General Obligation Refunding Bonds, Series 2009, 0.000%, 8/01/36 – AGM Insured
|
No Opt. Call
|
Aa2
|
1,795,166
|
||||||
Golden West Schools Financing Authority, California, General Obligation Revenue Refunding Bonds, School District Program, Series 1999A:
|
||||||||||
4,650
|
0.000%, 8/01/16 – NPFG Insured
|
No Opt. Call
|
A
|
4,267,766
|
||||||
1,750
|
0.000%, 2/01/17 – NPFG Insured
|
No Opt. Call
|
A
|
1,561,893
|
||||||
2,375
|
0.000%, 8/01/17 – NPFG Insured
|
No Opt. Call
|
A
|
2,075,703
|
||||||
2,345
|
0.000%, 2/01/18 – NPFG Insured
|
No Opt. Call
|
A
|
2,008,539
|
||||||
Mountain View-Los Altos Union High School District, Santa Clara County, California, General Obligation Capital Appreciation Bonds, Series 1995C:
|
||||||||||
1,015
|
0.000%, 5/01/17 – NPFG Insured
|
No Opt. Call
|
Aa1
|
962,870
|
||||||
1,080
|
0.000%, 5/01/18 – NPFG Insured
|
No Opt. Call
|
Aa1
|
991,084
|
||||||
Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A:
|
||||||||||
10,825
|
0.000%, 8/01/34
|
No Opt. Call
|
A+
|
3,322,407
|
||||||
3,250
|
0.000%, 8/01/35
|
No Opt. Call
|
A+
|
936,520
|
||||||
3,220
|
Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2005, 5.000%, 7/01/27 – NPFG Insured
|
7/15 at 100.00
|
A1
|
3,378,358
|
||||||
8,075
|
San Bernardino Community College District, California, General Obligation Bonds, Election of 2008 Series 2009B, 0.000%, 8/01/44
|
No Opt. Call
|
Aa2
|
1,236,121
|
||||||
7,560
|
Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 0.000%, 8/01/46
|
No Opt. Call
|
Aa2
|
1,103,231
|
||||||
2,565
|
Sunnyvale School District, Santa Clara County, California, General Obligation Bonds, Series 2005A, 5.000%, 9/01/26 – AGM Insured
|
9/15 at 100.00
|
AA
|
2,749,295
|
||||||
4,250
|
West Hills Community College District, California, General Obligation Bonds, School Facilities Improvement District 3, 2008 Election Series 2011, 0.000%, 8/01/38 – AGM Insured
|
8/31 at 100.00
|
AA–
|
2,108,085
|
||||||
65,550
|
Total Tax Obligation/General
|
35,166,708
|
||||||||
Tax Obligation/Limited – 26.5%
|
||||||||||
1,000
|
Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series 2003, 5.625%, 10/01/33 – RAAI Insured
|
11/13 at 100.00
|
N/R
|
844,650
|
||||||
2,190
|
California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Calipatria State Prison, Series 1991A, 6.500%, 9/01/17 – NPFG Insured
|
No Opt. Call
|
A
|
2,409,986
|
||||||
1,500
|
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34
|
11/19 at 100.00
|
A2
|
1,727,250
|
||||||
120
|
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured
|
9/15 at 100.00
|
A
|
120,944
|
44
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Tax Obligation/Limited (continued)
|
||||||||||
$
|
360
|
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured
|
9/16 at 101.00
|
A–
|
$
|
349,502
|
||||
2,000
|
Escondido Joint Powers Financing Authority, California, Lease Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41
|
3/22 at 100.00
|
AA–
|
2,006,740
|
||||||
1,000
|
Fontana Public Financing Authority, California, Tax Allocation Revenue Bonds, North Fontana Redevelopment Project, Series 2005A, 5.000%, 10/01/32 – AMBAC Insured
|
10/15 at 100.00
|
A
|
990,320
|
||||||
270
|
Fontana Redevelopment Agency, California, Jurupa Hills Redevelopment Project, Tax Allocation Refunding Bonds, 1997 Series A, 5.500%, 10/01/27
|
11/13 at 100.00
|
A–
|
270,716
|
||||||
250
|
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/23 – AMBAC Insured
|
5/17 at 100.00
|
BB+
|
242,945
|
||||||
Irvine Unified School District, California, Special Tax Bonds, Community Facilities District Series 2006A:
|
||||||||||
55
|
5.000%, 9/01/26
|
9/16 at 100.00
|
N/R
|
55,013
|
||||||
130
|
5.125%, 9/01/36
|
9/16 at 100.00
|
N/R
|
124,995
|
||||||
1,215
|
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
|
9/15 at 100.00
|
A1
|
1,234,161
|
||||||
135
|
National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011, 6.500%, 8/01/24
|
8/21 at 100.00
|
A–
|
160,627
|
||||||
280
|
Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Refunding, School District Pass-Through, Series 2004, 5.000%, 3/01/32 – RAAI Insured
|
3/14 at 100.00
|
N/R
|
258,714
|
||||||
1,000
|
Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Series 2009, 7.000%, 3/01/34
|
3/18 at 100.00
|
A
|
1,110,550
|
||||||
50
|
Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40
|
9/21 at 100.00
|
BBB+
|
54,806
|
||||||
1,300
|
Orange County, California, Special Tax Bonds, Community Facilities District 03-1 of Ladera Ranch, Series 2004A, 5.625%, 8/15/34
|
11/13 at 100.00
|
N/R
|
1,300,988
|
||||||
Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A:
|
||||||||||
350
|
5.250%, 9/01/30
|
9/23 at 100.00
|
N/R
|
341,933
|
||||||
320
|
5.750%, 9/01/39
|
9/23 at 100.00
|
N/R
|
317,850
|
||||||
60
|
Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Subordinate Lien Series 2013B , 5.875%, 9/01/39
|
9/23 at 100.00
|
N/R
|
59,017
|
||||||
Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011:
|
||||||||||
50
|
6.000%, 9/01/33
|
11/13 at 100.00
|
N/R
|
50,720
|
||||||
100
|
6.125%, 9/01/41
|
11/13 at 100.00
|
N/R
|
100,710
|
||||||
415
|
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28
|
9/18 at 100.00
|
BBB–
|
427,521
|
||||||
160
|
Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30
|
9/21 at 100.00
|
BBB+
|
169,154
|
||||||
30
|
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25
|
10/21 at 100.00
|
A–
|
33,094
|
||||||
605
|
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, 5.400%, 11/01/20 – NPFG Insured
|
No Opt. Call
|
A
|
679,597
|
||||||
1,365
|
San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, Series 2012A, 5.000%, 4/01/42
|
4/22 at 100.00
|
AAA
|
1,432,445
|
||||||
25
|
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41
|
2/21 at 100.00
|
A–
|
27,934
|
||||||
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D:
|
||||||||||
25
|
7.000%, 8/01/33
|
2/21 at 100.00
|
BBB
|
27,125
|
||||||
30
|
7.000%, 8/01/41
|
2/21 at 100.00
|
BBB
|
32,077
|
||||||
615
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C, 5.000%, 8/01/25 – NPFG Insured
|
8/17 at 100.00
|
A
|
616,445
|
||||||
3,000
|
San Mateo County Transit District, California, Sales Tax Revenue Bonds, Series 2005A, 5.000%, 6/01/21 – NPFG Insured
|
6/15 at 100.00
|
AA
|
3,218,578
|
Nuveen Investments
|
45
|
NXC
|
Nuveen California Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Tax Obligation/Limited (continued)
|
||||||||||
$
|
1,000
|
Santa Clara County Board of Education, California, Certificates of Participation, Series 2002, 5.000%, 4/01/25 – NPFG Insured
|
11/13 at 100.00
|
A
|
$
|
999,570
|
||||
1,000
|
Santa Clara Valley Transportation Authority, California, Sales Tax Revenue Bonds, Series 2007A, 5.000%, 4/01/36 – AMBAC Insured
|
4/17 at 100.00
|
AA+
|
1,036,720
|
||||||
40
|
Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26
|
4/21 at 100.00
|
N/R
|
41,509
|
||||||
1,000
|
Travis Unified School District, Solano County, California, Certificates of Participation, Series 2006, 5.000%, 9/01/26 – FGIC Insured
|
9/16 at 100.00
|
Baa1
|
1,004,940
|
||||||
360
|
Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 7.500%, 9/01/39
|
3/21 at 100.00
|
BBB+
|
381,298
|
||||||
70
|
Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32
|
9/21 at 100.00
|
A–
|
79,188
|
||||||
23,475
|
Total Tax Obligation/Limited
|
24,340,332
|
||||||||
Transportation – 2.2%
|
||||||||||
1,150
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 5.000%, 1/01/35
|
1/14 at 100.00
|
BBB–
|
1,026,732
|
||||||
955
|
Port of Oakland, California, Revenue Refunding Bonds, Series 2012P, 5.000%, 5/01/31 (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
972,983
|
||||||
2,105
|
Total Transportation
|
1,999,715
|
||||||||
U.S. Guaranteed – 2.4% (4)
|
||||||||||
1,000
|
California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Coalinga State Hospital, Series 2004A, 5.500%, 6/01/23 (Pre-refunded 6/01/14)
|
6/14 at 100.00
|
AAA
|
1,035,550
|
||||||
800
|
California State, General Obligation Bonds, Series 2004, 5.125%, 2/01/27 (Pre-refunded 2/01/14)
|
2/14 at 100.00
|
AAA
|
813,352
|
||||||
100
|
Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) – FGIC Insured
|
8/15 at 100.00
|
AA (4)
|
108,605
|
||||||
225
|
San Mateo Union High School District, San Mateo County, California, Certificates of Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) – AMBAC Insured
|
12/17 at 100.00
|
AA- (4)
|
262,557
|
||||||
2,125
|
Total U.S. Guaranteed
|
2,220,064
|
||||||||
Utilities – 6.8%
|
||||||||||
1,000
|
Imperial Irrigation District, California, Electric System Revenue Bonds, Refunding Series 2011A, 5.500%, 11/01/41
|
11/20 at 100.00
|
AA–
|
1,048,310
|
||||||
645
|
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.500%, 11/15/37
|
No Opt. Call
|
A
|
668,330
|
||||||
7,600
|
Merced Irrigation District, California, Certificates of Participation, Water and Hydroelectric Series 2008B, 0.000%, 9/01/23
|
9/16 at 64.56
|
A
|
4,267,094
|
||||||
215
|
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/01/31 – SYNCORA GTY Insured
|
9/15 at 100.00
|
N/R
|
215,320
|
||||||
9,460
|
Total Utilities
|
6,199,054
|
||||||||
Water and Sewer – 3.0%
|
||||||||||
1,000
|
Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/34
|
4/23 at 100.00
|
AA–
|
1,058,130
|
||||||
California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project, Series 2012:
|
||||||||||
535
|
5.000%, 7/01/37 (Alternative Minimum Tax)
|
No Opt. Call
|
Baa3
|
480,136
|
||||||
1,000
|
5.000%, 11/21/45 (Alternative Minimum Tax)
|
No Opt. Call
|
Baa3
|
839,620
|
46
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Water and Sewer (continued)
|
||||||||||
$
|
150
|
Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 5.000%, 4/01/36 – NPFG Insured
|
4/16 at 100.00
|
AA–
|
$
|
152,139
|
||||
250
|
Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2006, 5.000%, 12/01/31 – FGIC Insured
|
6/16 at 100.00
|
AA
|
262,718
|
||||||
2,935
|
Total Water and Sewer
|
2,792,743
|
||||||||
$
|
123,745
|
Total Long-Term Investments (cost $87,451,665)
|
90,164,011
|
|||||||
Floating Rate Obligations – (1.7)%
|
(1,540,000
|
)
|
||||||||
Other Assets Less Liabilities – 3.4%
|
3,088,392
|
|||||||||
Net Assets – 100%
|
$
|
91,712,403
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
Nuveen Investments
|
47
|
NXN
|
|
Nuveen New York Select Tax-Free Income Portfolio
|
|
Portfolio of Investments
|
|
September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
LONG-TERM INVESTMENTS – 94.4%
|
||||||||||
MUNICIPAL BONDS – 94.4%
|
||||||||||
Consumer Discretionary – 0.2%
|
||||||||||
$
|
100
|
New York City Industrial Development Agency, New York, Liberty Revenue Bonds, IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35
|
9/15 at 100.00
|
BBB
|
$
|
95,324
|
||||
Consumer Staples – 1.5%
|
||||||||||
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:
|
||||||||||
335
|
4.750%, 6/01/22
|
6/16 at 100.00
|
BBB–
|
327,992
|
||||||
540
|
5.000%, 6/01/26
|
6/16 at 100.00
|
BB–
|
477,149
|
||||||
875
|
Total Consumer Staples
|
805,141
|
||||||||
Education and Civic Organizations – 15.0%
|
||||||||||
100
|
Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series 2007A, 5.000%, 7/01/31
|
7/17 at 100.00
|
BBB
|
100,094
|
||||||
165
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A, 5.000%, 4/01/37
|
4/17 at 100.00
|
BB+
|
138,876
|
||||||
280
|
Buffalo and Erie County Industrial Land Development Corporation, New York, Tax-Exempt Revenue Bonds, Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40
|
12/20 at 100.00
|
BB
|
299,110
|
||||||
30
|
Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, St. Bonaventure University, Series 2006, 5.000%, 5/01/23
|
5/16 at 100.00
|
BBB–
|
30,194
|
||||||
430
|
Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series 2007A, 5.000%, 7/01/41 – RAAI Insured
|
7/17 at 100.00
|
N/R
|
402,153
|
||||||
1,000
|
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured
|
No Opt. Call
|
A
|
1,018,990
|
||||||
50
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2004A, 5.000%, 7/01/29 – NPFG Insured
|
7/15 at 100.00
|
Aa2
|
52,185
|
||||||
1,000
|
Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2011A, 5.000%, 10/01/41
|
4/21 at 100.00
|
AAA
|
1,062,270
|
||||||
120
|
Dormitory Authority of the State of New York, Revenue Bonds, St. Joseph’s College, Series 2010, 5.250%, 7/01/35
|
7/20 at 100.00
|
Baa1
|
120,803
|
||||||
815
|
Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard College Refunding, Series 2007-A1, 5.000%, 8/01/46
|
8/17 at 100.00
|
Baa1
|
784,087
|
||||||
100
|
Hempstead Town Industrial Development Agency, New York, Revenue Bonds, Adelphi University, Civic Facility Project, Series 2005, 5.000%, 10/01/35
|
10/15 at 100.00
|
A
|
100,446
|
||||||
2,000
|
Monroe County Industrial Development Corporation, New York, Revenue Bonds, University of Rochester Project, Series 2011B, 5.000%, 7/01/41
|
7/21 at 100.00
|
AA–
|
2,043,680
|
||||||
100
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, St. Francis College, Series 2004, 5.000%, 10/01/34
|
10/14 at 100.00
|
A–
|
100,422
|
||||||
100
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn College of Aeronautics, Series 2006A, 5.000%, 12/01/28
|
12/16 at 100.00
|
BB
|
92,278
|
||||||
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006:
|
||||||||||
500
|
5.000%, 1/01/31 – AMBAC Insured
|
1/17 at 100.00
|
Ba1
|
466,260
|
||||||
430
|
4.750%, 1/01/42 – AMBAC Insured
|
1/17 at 100.00
|
Ba1
|
357,493
|
||||||
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006:
|
||||||||||
590
|
4.500%, 3/01/39 – FGIC Insured
|
9/16 at 100.00
|
BBB
|
540,647
|
||||||
300
|
4.750%, 3/01/46 – NPFG Insured
|
9/16 at 100.00
|
A
|
289,824
|
||||||
65
|
Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic College, Series 2007, 5.000%, 10/01/27
|
10/17 at 100.00
|
BBB
|
65,798
|
||||||
8,175
|
Total Education and Civic Organizations
|
8,065,610
|
48
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Financials – 3.0%
|
||||||||||
$
|
1,050
|
Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35
|
No Opt. Call
|
A
|
$
|
1,113,767
|
||||
435
|
Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 2007, 5.500%, 10/01/37
|
No Opt. Call
|
A
|
474,842
|
||||||
1,485
|
Total Financials
|
1,588,609
|
||||||||
Health Care – 8.5%
|
||||||||||
1,000
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2006, 5.000%, 3/01/41
|
3/16 at 100.00
|
A+
|
1,001,200
|
||||||
450
|
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured
|
2/15 at 100.00
|
A
|
455,526
|
||||||
100
|
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds, Series 2010, 5.200%, 7/01/32
|
7/20 at 100.00
|
A2
|
102,886
|
||||||
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group Revenue Bonds, Series 2008:
|
||||||||||
250
|
6.000%, 12/01/15
|
No Opt. Call
|
Ba1
|
253,315
|
||||||
160
|
6.500%, 12/01/21
|
12/18 at 100.00
|
Ba1
|
166,152
|
||||||
305
|
6.250%, 12/01/37
|
12/18 at 100.00
|
Ba1
|
304,588
|
||||||
950
|
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer Center, Series 2006-1, 5.000%, 7/01/35
|
7/16 at 100.00
|
AA
|
953,800
|
||||||
350
|
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured
|
8/14 at 100.00
|
AA–
|
364,336
|
||||||
750
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2011A, 6.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
807,818
|
||||||
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Oneida Health System, Series 2007A:
|
||||||||||
100
|
5.250%, 2/01/27
|
2/17 at 100.00
|
BBB–
|
96,863
|
||||||
90
|
5.500%, 2/01/32
|
2/17 at 100.00
|
BBB–
|
85,172
|
||||||
4,505
|
Total Health Care
|
4,591,656
|
||||||||
Housing/Multifamily – 2.6%
|
||||||||||
860
|
New Hartford-Sunset Woods Funding Corporation, New York, FHA-Insured Mortgage Revenue Bonds, Sunset Woods Apartments II Project, Series 2002, 5.350%, 2/01/20
|
8/14 at 100.00
|
AA+
|
871,008
|
||||||
250
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2004A, 5.250%, 11/01/30
|
5/14 at 100.00
|
AA
|
255,440
|
||||||
275
|
New York State Housing Finance Agency, Affordable Housing Revenue, Series 2007A, 5.250%, 11/01/38 (Alternative Minimum Tax)
|
11/17 at 100.00
|
Aa2
|
276,977
|
||||||
1,385
|
Total Housing/Multifamily
|
1,403,425
|
||||||||
Housing/Single Family – 4.3%
|
||||||||||
2,320
|
New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-First Series A, 5.300%, 10/01/31 (Alternative Minimum Tax)
|
4/14 at 100.00
|
Aaa
|
2,321,021
|
||||||
Long-Term Care – 3.7%
|
||||||||||
100
|
Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31
|
11/16 at 100.00
|
Ba3
|
85,215
|
||||||
50
|
Dormitory Authority of the State of New York, Revenue Bonds, Providence Rest, Series 2005, 5.000%, 7/01/35 – ACA Insured
|
7/15 at 100.00
|
N/R
|
42,989
|
||||||
1,390
|
East Rochester Housing Authority, New York, FHA-Insured Mortgage Revenue Refunding Bonds, Jewish Home of Rochester, Series 2002, 4.625%, 2/15/17
|
8/14 at 100.00
|
AAA
|
1,400,773
|
||||||
185
|
Erie County Industrial Development Agency, New York, Revenue Bonds, Orchard Park CCRC Inc. Project, Series 2006A, 6.000%, 11/15/36
|
11/16 at 100.00
|
N/R
|
166,665
|
||||||
25
|
Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2008-B1, 5.500%, 7/01/18
|
7/16 at 100.00
|
N/R
|
23,734
|
||||||
275
|
Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs Facilities Pooled Program Bonds, Series 2008-C1, 5.500%, 7/01/18
|
7/16 at 101.00
|
N/R
|
261,071
|
||||||
2,025
|
Total Long-Term Care
|
1,980,447
|
Nuveen Investments
|
49
|
NXN
|
Nuveen New York Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Materials – 0.2%
|
||||||||||
$
|
90
|
Jefferson County Industrial Development Agency, New York, Solid Waste Disposal Revenue Bonds, International Paper Company Project, Series 2003A, 5.200%, 12/01/20 (Alternative Minimum Tax)
|
12/13 at 100.00
|
BBB
|
$
|
90,021
|
||||
Tax Obligation/General – 6.3%
|
||||||||||
1,260
|
New York City, New York, General Obligation Bonds, Fiscal 2008 Series D, 5.125%, 12/01/25
|
12/17 at 100.00
|
AA
|
1,438,101
|
||||||
10
|
New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16
|
8/14 at 100.00
|
AA
|
10,429
|
||||||
200
|
New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 – FGIC Insured
|
3/15 at 100.00
|
AA
|
212,504
|
||||||
1,000
|
New York City, New York, General Obligation Bonds, Fiscal Series 2006J-1, 5.000%, 6/01/25
|
6/16 at 100.00
|
AA
|
1,087,860
|
||||||
600
|
Yonkers, New York, General Obligation Bonds, Series 2011A, 5.000%, 10/01/24 – AGM Insured
|
10/21 at 100.00
|
AA–
|
655,878
|
||||||
3,070
|
Total Tax Obligation/General
|
3,404,772
|
||||||||
Tax Obligation/Limited – 32.6%
|
||||||||||
600
|
Battery Park City Authority, New York, Lease Revenue Bonds, Senior Lien Series 2003A, 5.000%, 11/01/23
|
11/13 at 100.00
|
AAA
|
602,448
|
||||||
1,050
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012D, 5.000%, 2/15/37
|
No Opt. Call
|
AAA
|
1,096,673
|
||||||
2,000
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47
|
2/21 at 100.00
|
A
|
2,119,820
|
||||||
1,500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47
|
2/17 at 100.00
|
A
|
1,505,190
|
||||||
5,800
|
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding Series 2012A, 0.000%, 11/15/32
|
No Opt. Call
|
AA
|
2,409,610
|
||||||
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local Government Assistance Corporation, Series 2004A:
|
||||||||||
250
|
5.000%, 10/15/25 – NPFG Insured
|
10/14 at 100.00
|
AAA
|
261,468
|
||||||
200
|
5.000%, 10/15/26 – NPFG Insured
|
10/14 at 100.00
|
AAA
|
208,960
|
||||||
1,225
|
5.000%, 10/15/29 – AMBAC Insured
|
10/14 at 100.00
|
AAA
|
1,271,452
|
||||||
600
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured
|
1/17 at 100.00
|
AA–
|
639,744
|
||||||
10
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2003E, 5.000%, 2/01/23 – FGIC Insured
|
11/13 at 100.00
|
AAA
|
10,040
|
||||||
550
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007C-1, 5.000%, 11/01/27
|
11/17 at 100.00
|
AAA
|
606,155
|
||||||
535
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Tender Option Bond Trust 3545, 13.883%, 5/01/32 (IF)
|
5/19 at 100.00
|
AAA
|
595,824
|
||||||
1,000
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, SubSeries 2011D-1, 5.250%, 2/01/30
|
2/21 at 100.00
|
AAA
|
1,108,220
|
||||||
775
|
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds, Series 2008A, 5.000%, 12/15/26 (UB)
|
12/17 at 100.00
|
AAA
|
863,358
|
||||||
425
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007, 5.000%, 4/01/27
|
10/17 at 100.00
|
AA
|
459,353
|
||||||
570
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, 5.500%, 4/01/20 – AMBAC Insured (UB) (4)
|
No Opt. Call
|
AA
|
687,420
|
||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1:
|
||||||||||
1,000
|
5.250%, 6/01/20 – AMBAC Insured
|
11/13 at 100.00
|
AA–
|
1,007,340
|
||||||
250
|
5.250%, 6/01/21 – AMBAC Insured
|
11/13 at 100.00
|
AA–
|
250,753
|
||||||
1,000
|
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 09-6W, 13.211%, 3/15/37 (IF) (4)
|
3/17 at 100.00
|
AAA
|
1,069,670
|
||||||
4,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Senior Series 2011C, 0.000%, 8/01/39
|
No Opt. Call
|
AA–
|
747,240
|
||||||
23,340
|
Total Tax Obligation/Limited
|
17,520,738
|
50
|
Nuveen Investments
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Transportation – 4.8%
|
||||||||||
$
|
500
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A, 5.000%, 11/15/15 – FGIC Insured
|
No Opt. Call
|
A
|
$
|
546,550
|
||||
1,000
|
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, British Airways PLC, Series 1998, 5.250%, 12/01/32 (Alternative Minimum Tax)
|
12/13 at 100.00
|
BB
|
874,930
|
||||||
250
|
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44
|
11/21 at 100.00
|
A+
|
251,813
|
||||||
100
|
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 – AGM Insured
|
7/15 at 100.00
|
AA–
|
104,460
|
||||||
105
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth Series 2005, 5.000%, 12/01/31 – SYNCORA GTY Insured
|
6/15 at 101.00
|
AA–
|
110,306
|
||||||
120
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty Eighth Series 2007, Tender Option Bond Trust 2920, 17.644%, 8/15/32 – AGM Insured (IF)
|
8/17 at 100.00
|
AA–
|
152,083
|
||||||
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010:
|
||||||||||
290
|
6.500%, 12/01/28
|
12/15 at 100.00
|
BBB
|
304,648
|
||||||
215
|
6.000%, 12/01/36
|
12/20 at 100.00
|
BBB
|
232,372
|
||||||
2,580
|
Total Transportation
|
2,577,162
|
||||||||
U.S. Guaranteed – 4.0% (5)
|
||||||||||
490
|
Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk County Issue, Series 1986, 7.375%, 7/01/16 (ETM)
|
No Opt. Call
|
Aaa
|
544,816
|
||||||
500
|
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District, Series 2004, 5.750%, 5/01/26 (Pre-refunded 5/01/14) – AGM Insured
|
5/14 at 100.00
|
AA– (5)
|
516,240
|
||||||
290
|
New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16 (Pre-refunded 8/15/14)
|
8/14 at 100.00
|
Aa2 (5)
|
302,824
|
||||||
250
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2004A, 5.000%, 4/01/21 (Pre-refunded 4/01/14) – NPFG Insured
|
4/14 at 100.00
|
AA (5)
|
256,028
|
||||||
500
|
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 (Pre-refunded 8/15/14)
|
8/14 at 100.00
|
AA– (5)
|
502,220
|
||||||
2,030
|
Total U.S. Guaranteed
|
2,122,128
|
||||||||
Utilities – 7.1%
|
||||||||||
550
|
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42
|
2/20 at 100.00
|
Baa3
|
557,926
|
||||||
35
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
33,636
|
||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:
|
||||||||||
570
|
5.000%, 12/01/23 – FGIC Insured
|
6/16 at 100.00
|
A
|
613,719
|
||||||
430
|
5.000%, 12/01/25 – FGIC Insured
|
6/16 at 100.00
|
A
|
463,011
|
||||||
1,025
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.700%, 4/01/30
|
4/19 at 100.00
|
A–
|
1,113,786
|
||||||
400
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/38
|
5/21 at 100.00
|
A–
|
404,762
|
||||||
735
|
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42
|
No Opt. Call
|
BB+
|
624,022
|
||||||
3,745
|
Total Utilities
|
3,810,862
|
Nuveen Investments
|
51
|
NXN
|
Nuveen New York Select Tax-Free Income Portfolio (continued)
|
Portfolio of Investments September 30, 2013 (Unaudited)
|
Principal
|
Optional Call
|
|||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
||||||
Water and Sewer – 0.6%
|
||||||||||
$
|
275
|
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Tender Option Bond Trust 3484, 17.975%, 6/15/32 (IF)
|
6/18 at 100.00
|
AA+
|
$
|
312,169
|
||||
$
|
56,000
|
Total Long-Investments (cost $50,173,699)
|
50,689,085
|
|||||||
Floating Rate Obligations – (1.9)%
|
(1,005,000
|
)
|
||||||||
Other Assets Less Liabilities – 7.5%
|
4,010,435
|
|||||||||
Net Assets – 100%
|
$
|
53,694,520
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
(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)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
|
(4)
|
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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
|
(ETM)
|
Escrowed to maturity.
|
(IF)
|
Inverse floating rate investment.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
|
52
|
Nuveen Investments
|
Statement of
|
|
Assets & Liabilities
|
Select
|
Select
|
Select
|
California
|
New York
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Select Tax-Free
|
Select Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Assets
|
||||||||||||||||
Investments, at value
(cost $224,581,997, $233,202,528, $176,868,007, $87,451,665 and $50,173,699, respectively) |
$
|
230,699,141
|
$
|
234,796,705
|
$
|
180,563,482
|
$
|
90,164,011
|
$
|
50,689,085
|
||||||
Cash
|
1,332,455
|
1,934,813
|
—
|
2,572,904
|
3,432,769
|
|||||||||||
Receivable for:
|
||||||||||||||||
Interest
|
2,465,574
|
2,795,101
|
1,990,328
|
1,032,560
|
755,780
|
|||||||||||
Investments sold
|
117,396
|
10,121
|
117,396
|
—
|
45,000
|
|||||||||||
Deferred offering costs
|
160,000
|
160,000
|
160,000
|
—
|
—
|
|||||||||||
Other assets
|
39,609
|
41,288
|
31,182
|
16,628
|
11,306
|
|||||||||||
Total assets
|
234,814,175
|
239,738,028
|
182,862,388
|
93,786,103
|
54,933,940
|
|||||||||||
Liabilities
|
||||||||||||||||
Cash overdraft
|
—
|
—
|
260,496
|
—
|
—
|
|||||||||||
Floating rate obligations
|
—
|
1,000,000
|
—
|
1,540,000
|
1,005,000
|
|||||||||||
Payable for:
|
||||||||||||||||
Dividends
|
804,393
|
883,251
|
653,495
|
337,056
|
195,114
|
|||||||||||
Investments purchased
|
1,456,635
|
—
|
—
|
131,207
|
—
|
|||||||||||
Accrued expenses:
|
||||||||||||||||
Management fees
|
39,971
|
50,518
|
38,792
|
19,970
|
11,683
|
|||||||||||
Shelf offering costs
|
101,701
|
103,639
|
98,856
|
—
|
—
|
|||||||||||
Trustees fees
|
38,708
|
40,450
|
29,916
|
14,685
|
9,073
|
|||||||||||
Other
|
58,964
|
61,671
|
47,115
|
30,782
|
18,550
|
|||||||||||
Total liabilities
|
2,500,372
|
2,139,529
|
1,128,670
|
2,073,700
|
1,239,420
|
|||||||||||
Net assets
|
$
|
232,313,803
|
$
|
237,598,499
|
$
|
181,733,718
|
$
|
91,712,403
|
$
|
53,694,520
|
||||||
Shares outstanding
|
16,570,310
|
17,713,727
|
13,045,560
|
6,272,729
|
3,923,976
|
|||||||||||
Net asset value per share outstanding
|
$
|
14.02
|
$
|
13.41
|
$
|
13.93
|
$
|
14.62
|
$
|
13.68
|
||||||
Net assets consist of:
|
||||||||||||||||
Shares, $.01 par value per share
|
$
|
165,703
|
$
|
177,137
|
$
|
130,456
|
$
|
62,727
|
$
|
39,240
|
||||||
Paid-in surplus
|
230,367,741
|
247,159,308
|
179,537,064
|
87,352,066
|
53,843,094
|
|||||||||||
Undistributed (Over-distribution of) net investment income
|
1,435,609
|
848,459
|
982,737
|
260,545
|
66,436
|
|||||||||||
Accumulated net realized gain (loss)
|
(5,772,394
|
)
|
(12,180,582
|
)
|
(2,612,014
|
)
|
1,324,719
|
(769,636
|
)
|
|||||||
Net unrealized appreciation (depreciation)
|
6,117,144
|
1,594,177
|
3,695,475
|
2,712,346
|
515,386
|
|||||||||||
Net assets
|
$
|
232,313,803
|
$
|
237,598,499
|
$
|
181,733,718
|
$
|
91,712,403
|
$
|
53,694,520
|
||||||
Authorized shares
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Unlimited
|
Nuveen Investments
|
53
|
Statement of
|
|
Operations
|
Select
|
Select
|
Select
|
California
|
New York
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Select Tax-Free
|
Select Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Investment Income
|
$
|
5,729,254
|
$
|
5,924,877
|
$
|
4,418,984
|
$
|
2,301,473
|
$
|
1,305,845
|
||||||
Expenses
|
||||||||||||||||
Management fees
|
253,448
|
320,122
|
246,795
|
126,643
|
74,102
|
|||||||||||
Shareholder servicing agent fees and expenses
|
9,699
|
9,047
|
7,148
|
2,545
|
2,184
|
|||||||||||
Interest expense and amortization of offering costs
|
—
|
3,357
|
—
|
4,049
|
1,936
|
|||||||||||
Custodian fees and expenses
|
23,090
|
25,150
|
19,214
|
11,543
|
7,897
|
|||||||||||
Trustees fees and expenses
|
3,039
|
3,110
|
2,383
|
1,200
|
700
|
|||||||||||
Professional fees
|
13,301
|
13,393
|
12,520
|
11,133
|
10,569
|
|||||||||||
Shareholder reporting expenses
|
26,962
|
29,242
|
20,590
|
10,419
|
7,918
|
|||||||||||
Stock exchange listing fees
|
4,374
|
4,328
|
4,339
|
4,315
|
4,321
|
|||||||||||
Investor relations expenses
|
466
|
679
|
—
|
270
|
58
|
|||||||||||
Other expenses
|
7,845
|
8,277
|
5,138
|
5,782
|
5,309
|
|||||||||||
Total expenses
|
342,224
|
416,705
|
318,127
|
177,899
|
114,994
|
|||||||||||
Net investment income (loss)
|
5,387,030
|
5,508,172
|
4,100,857
|
2,123,574
|
1,190,851
|
|||||||||||
Realized and Unrealized Gain (Loss)
|
||||||||||||||||
Net realized gain (loss) from investments
|
1,285,743
|
102,154
|
106,337
|
(233,990
|
)
|
(785,766
|
)
|
|||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(18,273,720
|
)
|
(17,126,049
|
)
|
(13,283,808
|
)
|
(6,626,783
|
)
|
(3,167,332
|
)
|
||||||
Net realized and unrealized gain (loss)
|
(16,987,977
|
)
|
(17,023,895
|
)
|
(13,177,471
|
)
|
(6,860,773
|
)
|
(3,953,098
|
)
|
||||||
Net increase (decrease) in net assets from operations
|
$
|
(11,600,947
|
)
|
$
|
(11,515,723
|
)
|
$
|
(9,076,614
|
)
|
$
|
(4,737,199
|
)
|
$
|
(2,762,247
|
)
|
54
|
Nuveen Investments
|
Statement of
|
|
Changes in Net Assets (Unaudited)
|
Select Tax-Free (NXP)
|
Select Tax-Free 2 (NXQ)
|
Select Tax-Free 3 (NXR)
|
|||||||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||||||
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
||||||||||||||
Operations
|
|||||||||||||||||||
Net investment income (loss)
|
$
|
5,387,030
|
$
|
11,499,102
|
$
|
5,508,172
|
$
|
11,465,877
|
$
|
4,100,857
|
$
|
8,618,606
|
|||||||
Net realized gain (loss) from investments
|
1,285,743
|
520,500
|
102,154
|
443,542
|
106,337
|
315,072
|
|||||||||||||
Change in net unrealized appreciation (depreciation) of investments
|
(18,273,720
|
)
|
7,403,576
|
(17,126,049
|
)
|
8,010,449
|
(13,283,808
|
)
|
6,333,666
|
||||||||||
Net increase (decrease) in net assets from operations
|
(11,600,947
|
)
|
19,423,178
|
(11,515,723
|
)
|
19,919,868
|
(9,076,614
|
)
|
15,267,344
|
||||||||||
Distributions to Shareholders
|
|||||||||||||||||||
From net investment income
|
(5,219,649
|
)
|
(11,443,792
|
)
|
(5,579,825
|
)
|
(11,196,253
|
)
|
(4,109,353
|
)
|
(8,586,309
|
)
|
|||||||
From accumulated net realized gains |
—
|
—
|
—
|
—
|
—
|
—
|
|||||||||||||
Decrease in net assets from distributions to shareholders
|
(5,219,649
|
)
|
(11,443,792
|
)
|
(5,579,825
|
)
|
(11,196,253
|
)
|
(4,109,353
|
)
|
(8,586,309
|
)
|
|||||||
Capital Share Transactions
|
|||||||||||||||||||
Net proceeds from shares issued to shareholders due to reinvestment of distributions
|
—
|
463,628
|
—
|
186,345
|
—
|
228,701
|
|||||||||||||
Net increase (decrease) in net assets from capital share transactions
|
—
|
463,628
|
—
|
186,345
|
—
|
228,701
|
|||||||||||||
Net increase (decrease) in net assets
|
(16,820,596
|
)
|
8,443,014
|
(17,095,548
|
)
|
8,909,960
|
(13,185,967
|
)
|
6,909,736
|
||||||||||
Net assets at the beginning of period
|
249,134,399
|
240,691,385
|
254,694,047
|
245,784,087
|
194,919,685
|
188,009,949
|
|||||||||||||
Net assets at the end of period
|
$
|
232,313,803
|
$
|
249,134,399
|
$
|
237,598,499
|
$
|
254,694,047
|
$
|
181,733,718
|
$
|
194,919,685
|
|||||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
1,435,609
|
$
|
1,268,228
|
$
|
848,459
|
$
|
920,112
|
$
|
982,737
|
$
|
991,233
|
Nuveen Investments
|
55
|
California Select Tax-Free (NXC)
|
New York Select Tax-Free (NXN)
|
||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
||||||||||
Operations
|
|||||||||||||
Net investment income (loss)
|
$
|
2,123,574
|
$
|
4,331,855
|
$
|
1,190,851
|
$
|
2,485,935
|
|||||
Net realized gain (loss) from investments
|
(233,990
|
)
|
2,271,936
|
(785,766
|
)
|
55,939
|
|||||||
Change in net unrealized appreciation (depreciation) of investments
|
(6,626,783
|
)
|
1,748,172
|
(3,167,332
|
)
|
652,675
|
|||||||
Net increase (decrease) in net assets from operations
|
(4,737,199
|
)
|
8,351,963
|
(2,762,247
|
)
|
3,194,549
|
|||||||
Distributions to Shareholders
|
|||||||||||||
From net investment income
|
(2,145,273
|
)
|
(4,288,796
|
)
|
(1,236,052
|
)
|
(2,555,601
|
)
|
|||||
From accumulated net realized gains
|
—
|
—
|
—
|
(217,215
|
)
|
||||||||
Decrease in net assets from distributions to shareholders
|
(2,145,273
|
)
|
(4,288,796
|
)
|
(1,236,052
|
)
|
(2,772,816
|
)
|
|||||
Capital Share Transactions
|
|||||||||||||
Net proceeds from shares issued to shareholders due to reinvestment of distributions
|
—
|
84,643
|
9,245
|
91,698
|
|||||||||
Net increase (decrease) in net assets from capital share transactions
|
—
|
84,643
|
9,245
|
91,698
|
|||||||||
Net increase (decrease) in net assets
|
(6,882,472
|
)
|
4,147,810
|
(3,989,054
|
)
|
513,431
|
|||||||
Net assets at the beginning of period
|
98,594,875
|
94,447,065
|
57,683,574
|
57,170,143
|
|||||||||
Net assets at the end of period
|
$
|
91,712,403
|
$
|
98,594,875
|
$
|
53,694,520
|
$
|
57,683,574
|
|||||
Undistributed (Over-distribution of) net investment income at the end of period
|
$
|
260,545
|
$
|
282,244
|
$
|
66,436
|
$
|
111,637
|
56
|
Nuveen Investments
|
Financial
|
|
Highlights (Unaudited)
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||
Beginning
Net Asset
Value
|
Net
Investment
Income (Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Total
|
From Net
Investment
Income
|
From
Accumulated
Net Realized
Gains
|
Total
|
Ending
Net
Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Select Tax-Free (NXP)
|
||||||||||||||||||||||||||||
Year Ended 3/31:
|
||||||||||||||||||||||||||||
2014(c)
|
$
|
15.03
|
$
|
.33
|
$
|
(1.02
|
)
|
$
|
(.69
|
)
|
$
|
(.32
|
)
|
$
|
—
|
$
|
(.32
|
)
|
$
|
14.02
|
$
|
13.04
|
||||||
2013
|
14.55
|
.69
|
.48
|
1.17
|
(.69
|
)
|
—
|
(.69
|
)
|
15.03
|
14.63
|
|||||||||||||||||
2012
|
13.58
|
.73
|
.96
|
1.69
|
(.72
|
)
|
—
|
(.72
|
)
|
14.55
|
14.57
|
|||||||||||||||||
2011
|
14.19
|
.71
|
(.61
|
)
|
.10
|
(.71
|
)
|
—
|
(.71
|
)
|
13.58
|
13.25
|
||||||||||||||||
2010
|
13.52
|
.73
|
.66
|
1.39
|
(.72
|
)
|
—
|
(.72
|
)
|
14.19
|
14.74
|
|||||||||||||||||
2009
|
14.30
|
.71
|
(.81
|
)
|
(.10
|
)
|
(.68
|
)
|
—
|
(.68
|
)
|
13.52
|
13.67
|
|||||||||||||||
Select Tax-Free 2 (NXQ)
|
||||||||||||||||||||||||||||
Year Ended 3/31:
|
||||||||||||||||||||||||||||
2014(c)
|
14.38
|
.31
|
(.96
|
)
|
(.65
|
)
|
(.32
|
)
|
—
|
(.32
|
)
|
13.41
|
12.51
|
|||||||||||||||
2013
|
13.89
|
.65
|
.47
|
1.12
|
(.63
|
)
|
—
|
(.63
|
)
|
14.38
|
13.99
|
|||||||||||||||||
2012
|
12.89
|
.66
|
.98
|
1.64
|
(.64
|
)
|
—
|
(.64
|
)
|
13.89
|
13.63
|
|||||||||||||||||
2011
|
13.53
|
.64
|
(.61
|
)
|
.03
|
(.67
|
)
|
—
|
(.67
|
)
|
12.89
|
12.40
|
||||||||||||||||
2010
|
12.63
|
.68
|
.89
|
1.57
|
(.67
|
)
|
—
|
(.67
|
)
|
13.53
|
13.81
|
|||||||||||||||||
2009
|
13.93
|
.67
|
(1.30
|
)
|
(.63
|
)
|
(.67
|
)
|
—
|
(.67
|
)
|
12.63
|
13.14
|
(a)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Net Asset Value is the combination of changes in net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
58
|
Nuveen Investments
|
Ratios/Supplemental Data
|
||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
|
|||||||||||||||||
Based on
Net
Asset
Value
|
(a)
|
Based on
Market
Value
|
(a)
|
Ending
Net
Assets
(000)
|
Expenses
|
(b)
|
Net
Investment
Income (Loss)
|
Portfolio
Turnover
Rate
|
(d)
|
|||||||||
(4.65
|
)%
|
(8.76
|
)%
|
$
|
232,314
|
.29
|
%*
|
4.50
|
%*
|
22
|
%
|
|||||||
8.16
|
5.14
|
249,134
|
.28
|
4.64
|
24
|
|||||||||||||
12.72
|
15.72
|
240,691
|
.31
|
5.18
|
19
|
|||||||||||||
.69
|
(5.40
|
)
|
224,268
|
.32
|
5.05
|
6
|
||||||||||||
10.45
|
13.45
|
233,869
|
.32
|
5.20
|
3
|
|||||||||||||
(.65
|
)
|
.89
|
222,114
|
.33
|
5.12
|
11
|
||||||||||||
(4.58
|
)
|
(8.38
|
)
|
237,598
|
.34
|
*
|
4.50
|
*
|
12
|
|||||||||
8.20
|
7.29
|
254,694
|
.33
|
4.54
|
19
|
|||||||||||||
12.97
|
15.32
|
245,784
|
.35
|
4.94
|
20
|
|||||||||||||
.13
|
(5.56
|
)
|
228,016
|
.39
|
4.81
|
6
|
||||||||||||
12.62
|
10.45
|
239,100
|
.37
|
5.12
|
4
|
|||||||||||||
(4.63
|
)
|
.24
|
222,771
|
.39
|
5.08
|
6
|
(b)
|
The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, as follows:
|
Select Tax-Free (NXP)
|
||||
Year Ended 3/31:
|
||||
2014(c)
|
—
|
%
|
||
2013
|
—
|
|||
2012
|
—
|
|||
2011
|
—
|
|||
2010
|
—
|
|||
2009
|
—
|
Select Tax-Free 2 (NXQ)
|
||||
Year Ended 3/31:
|
||||
2014(c)
|
—
|
%***
|
||
2013
|
—
|
**
|
||
2012
|
—
|
**
|
||
2011
|
—
|
|||
2010
|
—
|
|||
2009
|
.01
|
(c)
|
For the six months ended September 30, 2013.
|
(d)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
*
|
Annualized.
|
**
|
Rounds to less than .01%.
|
***
|
Rounds to less than .01% annualized.
|
Nuveen Investments
|
59
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||
Beginning
Net Asset
Value
|
Net
Investment
Income (Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Total
|
From Net
Investment
Income
|
From
Accumulated
Net Realized
Gains
|
Total
|
Ending
Net
Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
Select Tax-Free 3 (NXR)
|
||||||||||||||||||||||||||||
Year Ended 3/31:
|
||||||||||||||||||||||||||||
2014(c)
|
$
|
14.94
|
$
|
.31
|
$
|
(1.00
|
)
|
$
|
(.69
|
)
|
$
|
(.32
|
)
|
$
|
—
|
$
|
(.32
|
)
|
$
|
13.93
|
$
|
12.82
|
||||||
2013
|
14.43
|
.66
|
.51
|
1.17
|
(.66
|
)
|
—
|
(.66
|
)
|
14.94
|
14.48
|
|||||||||||||||||
2012
|
13.51
|
.69
|
.92
|
1.61
|
(.65
|
)
|
(.04
|
)
|
(.69
|
)
|
14.43
|
14.34
|
||||||||||||||||
2011
|
14.06
|
.66
|
(.57
|
)
|
.09
|
(.64
|
)
|
—
|
*
|
(.64
|
)
|
13.51
|
13.03
|
|||||||||||||||
2010
|
13.38
|
.67
|
.65
|
1.32
|
(.64
|
)
|
—
|
*
|
(.64
|
)
|
14.06
|
14.22
|
||||||||||||||||
2009
|
13.98
|
.66
|
(.62
|
)
|
.04
|
(.64
|
)
|
—
|
(.64
|
)
|
13.38
|
13.57
|
||||||||||||||||
California Select Tax-Free (NXC)
|
||||||||||||||||||||||||||||
Year Ended 3/31:
|
||||||||||||||||||||||||||||
2014(c)
|
15.72
|
.34
|
(1.10
|
)
|
(.76
|
)
|
(.34
|
)
|
—
|
(.34
|
)
|
14.62
|
13.55
|
|||||||||||||||
2013
|
15.07
|
.69
|
.64
|
1.33
|
(.68
|
)
|
—
|
(.68
|
)
|
15.72
|
15.07
|
|||||||||||||||||
2012
|
13.43
|
.70
|
1.62
|
2.32
|
(.68
|
)
|
—
|
(.68
|
)
|
15.07
|
14.80
|
|||||||||||||||||
2011
|
13.97
|
.68
|
(.55
|
)
|
.13
|
(.67
|
)
|
—
|
(.67
|
)
|
13.43
|
12.59
|
||||||||||||||||
2010
|
13.24
|
.67
|
.73
|
1.40
|
(.67
|
)
|
—
|
(.67
|
)
|
13.97
|
13.08
|
|||||||||||||||||
2009
|
14.09
|
.66
|
(.84
|
)
|
(.18
|
)
|
(.67
|
)
|
—
|
(.67
|
)
|
13.24
|
12.00
|
(a)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Net Asset Value is the combination of changes in net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
60
|
Nuveen Investments
|
Ratios/Supplemental Data
|
||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
|
|||||||||||||||||
Based on
Net
Asset
Value
|
(a)
|
Based on
Market
Value
|
(a)
|
Ending
Net
Assets
(000)
|
Expenses
|
(b)
|
Net
Investment
Income (Loss)
|
Portfolio
Turnover
Rate
|
(d)
|
|||||||||
(4.68
|
)%
|
(9.36
|
)%
|
$
|
181,734
|
.34
|
%**
|
4.38
|
%**
|
20
|
%
|
|||||||
8.20
|
5.54
|
194,920
|
.33
|
4.45
|
28
|
|||||||||||||
12.23
|
15.69
|
188,010
|
.38
|
4.94
|
16
|
|||||||||||||
.62
|
(3.98
|
)
|
175,846
|
.37
|
4.75
|
4
|
||||||||||||
10.05
|
9.70
|
182,779
|
.38
|
4.81
|
3
|
|||||||||||||
.34
|
3.51
|
173,678
|
.39
|
4.83
|
5
|
|||||||||||||
(4.85
|
)
|
(7.91
|
)
|
91,712
|
.38
|
**
|
4.49
|
**
|
7
|
|||||||||
8.98
|
6.43
|
98,595
|
.37
|
4.44
|
19
|
|||||||||||||
17.64
|
23.56
|
94,447
|
.42
|
4.87
|
11
|
|||||||||||||
.83
|
1.18
|
84,199
|
.38
|
4.89
|
8
|
|||||||||||||
10.71
|
14.71
|
87,548
|
.41
|
4.87
|
4
|
|||||||||||||
(1.30
|
)
|
(10.34
|
)
|
82,953
|
.43
|
4.85
|
12
|
(b)
|
The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, as follows:
|
Select Tax-Free 3 (NXR)
|
||||
Year Ended 3/31:
|
||||
2014(c)
|
—
|
%
|
||
2013
|
—
|
|||
2012
|
—
|
|||
2011
|
—
|
|||
2010
|
—
|
|||
2009
|
—
|
California Select Tax-Free (NXC)
|
||||
Year Ended 3/31:
|
||||
2014(c)
|
.01
|
%**
|
||
2013
|
.01
|
|||
2012
|
.01
|
|||
2011
|
.01
|
|||
2010
|
.02
|
|||
2009
|
.02
|
(c)
|
For the six months ended September 30, 2013.
|
(d)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
*
|
Rounds to less than $.01 per share.
|
**
|
Annualized.
|
Nuveen Investments
|
61
|
Investment Operations
|
Less Distributions
|
|||||||||||||||||||||||||||
Beginning
Net Asset
Value
|
Net
Investment
Income (Loss)
|
Net
Realized/
Unrealized
Gain (Loss)
|
Total
|
From Net
Investment
Income
|
From
Accumulated
Net Realized
Gains
|
Total
|
Ending
Net
Asset
Value
|
Ending
Market
Value
|
||||||||||||||||||||
New York Select Tax-Free (NXN)
|
||||||||||||||||||||||||||||
Year Ended 3/31:
|
||||||||||||||||||||||||||||
2014(c)
|
$
|
14.70
|
$
|
.30
|
$
|
(1.00
|
)
|
$
|
(.70
|
)
|
$
|
(.32
|
)
|
$
|
—
|
$
|
(.32
|
)
|
$
|
13.68
|
$
|
13.01
|
||||||
2013
|
14.59
|
.63
|
.19
|
.82
|
(.65
|
)
|
(.06
|
)
|
(.71
|
)
|
14.70
|
14.87
|
||||||||||||||||
2012
|
13.71
|
.66
|
.86
|
1.52
|
(.64
|
)
|
—
|
(.64
|
)
|
14.59
|
14.10
|
|||||||||||||||||
2011
|
14.06
|
.64
|
(.38
|
)
|
.26
|
(.61
|
)
|
—
|
(.61
|
)
|
13.71
|
13.06
|
||||||||||||||||
2010
|
13.37
|
.62
|
.68
|
1.30
|
(.61
|
)
|
—
|
(.61
|
)
|
14.06
|
13.80
|
|||||||||||||||||
2009
|
13.79
|
.62
|
(.43
|
)
|
.19
|
(.61
|
)
|
—
|
(.61
|
)
|
13.37
|
13.08
|
(a)
|
Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
|
Total Return Based on Net Asset Value is the combination of changes in net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.
|
62
|
Nuveen Investments
|
Ratios/Supplemental Data
|
||||||||||||||||||
Total Returns
|
Ratios to Average Net Assets
|
|||||||||||||||||
Based on
Net
Asset
Value
|
(a)
|
Based on
Market
Value
|
(a)
|
Ending
Net
Assets
(000)
|
Expenses
|
(b)
|
Net
Investment
Income (Loss)
|
Portfolio
Turnover
Rate
|
(d)
|
|||||||||
(4.82
|
)%
|
(10.44
|
)%
|
$
|
53,695
|
.42
|
%*
|
4.30
|
%*
|
13
|
%
|
|||||||
5.66
|
10.60
|
57,684
|
.39
|
4.27
|
23
|
|||||||||||||
11.25
|
13.05
|
57,170
|
.50
|
4.62
|
19
|
|||||||||||||
1.84
|
(1.08
|
)
|
53,705
|
.41
|
4.55
|
3
|
||||||||||||
9.89
|
10.31
|
55,007
|
.44
|
4.50
|
1
|
|||||||||||||
1.47
|
(.57
|
)
|
52,268
|
.47
|
4.57
|
1
|
(b)
|
The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities, as follows:
|
New York Select Tax-Free (NXN)
|
||||
Year Ended 3/31:
|
||||
2014(c)
|
.01
|
%*
|
||
2013
|
.01
|
|||
2012
|
.01
|
|||
2011
|
.01
|
|||
2010
|
.02
|
|||
2009
|
.02
|
(c)
|
For the six months ended September 30, 2013.
|
(d)
|
Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
|
*
|
Annualized.
|
Nuveen Investments
|
63
|
Notes to
|
|
Financial Statements (Unaudited)
|
Select
|
||||
Tax-Free
|
||||
(NXP
|
)
|
|||
Outstanding when-issued/delayed delivery purchase commitments
|
$
|
1,456,635
|
64
|
Nuveen Investments
|
Select
|
Select
|
Select
|
||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
|||||
Authorized shares
|
1,600,000
|
1,700,000
|
1,300,000
|
|||||||
Shares issued
|
—
|
—
|
—
|
|||||||
Offering proceeds, net of offering costs
|
—
|
—
|
—
|
Nuveen Investments
|
65
|
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).
|
Select Tax-Free (NXP)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
230,664,302
|
$
|
—
|
$
|
230,664,302
|
|||||
Corporate Bonds
|
—
|
—
|
34,839
|
34,839
|
|||||||||
Total
|
$
|
—
|
$
|
230,664,302
|
$
|
34,839
|
$
|
230,699,141
|
|||||
Select Tax-Free 2 (NXQ)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
234,742,216
|
$
|
—
|
$
|
234,742,216
|
|||||
Corporate Bonds
|
—
|
—
|
54,489
|
54,489
|
|||||||||
Total
|
$
|
—
|
$
|
234,742,216
|
$
|
54,489
|
$
|
234,796,705
|
|||||
Select Tax-Free 3 (NXR)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
180,548,127
|
$
|
—
|
$
|
180,548,127
|
|||||
Corporate Bonds
|
—
|
—
|
15,355
|
15,355
|
|||||||||
Total
|
$
|
—
|
$
|
180,548,127
|
$
|
15,355
|
$
|
180,563,482
|
|||||
California Select Tax-Free (NXC)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
90,164,011
|
$
|
—
|
$
|
90,164,011
|
|||||
New York Select Tax-Free (NXN)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Long-Term Investments*:
|
|||||||||||||
Municipal Bonds
|
$
|
—
|
$
|
50,689,085
|
$
|
—
|
$
|
50,689,085
|
66
|
Nuveen Investments
|
(i)
|
If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities.
|
|
(ii)
|
If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis.
|
Nuveen Investments
|
67
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Maximum exposure to Recourse Trusts
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
2,000,000
|
California
|
New York
|
|||||||||
Select
|
Select
|
Select
|
||||||||
Tax-Free 2
|
Tax-Free
|
Tax-Free
|
||||||||
(NXQ
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||
Average floating rate obligations outstanding
|
$
|
1,000,000
|
$
|
1,540,000
|
$
|
1,005,000
|
||||
Average annual interest rate and fees
|
.67
|
%
|
.52
|
%
|
.38
|
%
|
68
|
Nuveen Investments
|
Select
|
Select
|
Select
|
|||||||||||||||||
Tax-Free (NXP)
|
Tax-Free 2 (NXQ)
|
Tax-Free 3 (NXR)
|
|||||||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||||||
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
||||||||||||||
Shares issued to shareholders due to reinvestment of distributions
|
—
|
30,980
|
—
|
13,014
|
—
|
15,386
|
California Select
|
New York Select
|
||||||||||||
Tax-Free (NXC)
|
Tax-Free (NXN)
|
||||||||||||
Six Months
|
Year
|
Six Months
|
Year
|
||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||
9/30/13
|
3/31/13
|
9/30/13
|
3/31/13
|
||||||||||
Shares issued to shareholders due to reinvestment of distributions
|
—
|
5,438
|
628
|
6,149
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Purchases
|
$
|
51,342,719
|
$
|
31,563,778
|
$
|
38,511,963
|
$
|
6,122,254
|
$
|
6,968,684
|
||||||
Sales and maturities
|
52,090,521
|
30,005,000
|
36,510,000
|
9,281,345
|
9,521,849
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Cost of investments
|
$
|
223,578,604
|
$
|
231,561,029
|
$
|
176,014,290
|
$
|
85,882,284
|
$
|
49,150,840
|
||||||
Gross unrealized:
|
||||||||||||||||
Appreciation
|
$
|
11,573,059
|
$
|
8,095,275
|
$
|
8,491,664
|
$
|
5,007,380
|
$
|
1,673,973
|
||||||
Depreciation
|
(4,452,522
|
)
|
(5,859,599
|
)
|
(3,942,472
|
)
|
(2,270,038
|
)
|
(1,138,047
|
)
|
||||||
Net unrealized appreciation (depreciation) of investments
|
$
|
7,120,537
|
$
|
2,235,676
|
$
|
4,549,192
|
$
|
2,737,342
|
$
|
535,926
|
Nuveen Investments
|
69
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Paid-in-surplus
|
$
|
6,304
|
$
|
21,349
|
$
|
349
|
$
|
—
|
$
|
(6,147
|
)
|
|||||
Undistributed (Over-distribution of) net investment income
|
(7,871
|
)
|
(31,737
|
)
|
(13,432
|
)
|
(7
|
)
|
(3,866
|
)
|
||||||
Accumulated net realized gain (loss)
|
1,567
|
10,388
|
13,083
|
7
|
10,013
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Undistributed net tax-exempt income1
|
$
|
1,243,432
|
$
|
1,288,337
|
$
|
976,853
|
$
|
620,749
|
$
|
303,118
|
||||||
Undistributed net ordinary income2
|
—
|
—
|
—
|
—
|
1,353
|
|||||||||||
Undistributed net long-term capital gains
|
—
|
—
|
—
|
1,558,707
|
16,129
|
1
|
Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on March 1, 2013, paid on April 1, 2013.
|
2
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
California
|
New York
|
|||||||||||||||
Select
|
Select
|
Select
|
Select
|
Select
|
||||||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
Tax-Free
|
Tax-Free
|
||||||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
(NXC
|
)
|
(NXN
|
)
|
|||||||
Distributions from net tax-exempt income
|
$
|
11,324,975
|
$
|
11,155,080
|
$
|
8,604,761
|
$
|
4,288,487
|
$
|
2,563,112
|
||||||
Distributions from net ordinary income2
|
232,966
|
40,490
|
13,316
|
—
|
—
|
|||||||||||
Distributions from net long-term capital gains
|
—
|
—
|
—
|
—
|
217,215
|
2
|
Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.
|
Select
|
Select
|
Select
|
||||||||
Tax-Free
|
Tax-Free 2
|
Tax-Free 3
|
||||||||
(NXP
|
)
|
(NXQ
|
)
|
(NXR
|
)
|
|||||
Expiration:
|
||||||||||
March 31, 2015
|
$
|
260,316
|
$
|
862,250
|
$
|
—
|
||||
March 31, 2016
|
—
|
7,597
|
—
|
|||||||
March 31, 2017
|
—
|
400,800
|
—
|
|||||||
March 31, 2019
|
—
|
335,742
|
—
|
|||||||
Not subject to expiration:
|
||||||||||
Short-term losses
|
—
|
—
|
—
|
|||||||
Long-term losses
|
6,797,823
|
10,676,349
|
2,718,349
|
|||||||
Total
|
$
|
7,058,139
|
$
|
12,282,738
|
$
|
2,718,349
|
70
|
Nuveen Investments
|
California
|
||||
Select
|
||||
Tax-Free
|
||||
(NXC
|
)
|
|||
Utilized capital loss carryforwards
|
$
|
459,219
|
Select Tax-Free 2 (NXQ)
|
||||
Select Tax-Free 3 (NXR)
|
||||
California Select Tax-Free (NXC)
|
||||
Select Tax-Free (NXP)
|
New York Select Tax-Free (NXN)
|
|||
Average Daily Managed Assets*
|
Fund-Level Fee Rate
|
Fund-Level Fee Rate
|
||
For the first $125 million
|
.0500
|
%
|
.1000
|
%
|
For the next $125 million
|
.0375
|
.0875
|
||
For the next $250 million
|
.0250
|
.0750
|
||
For the next $500 million
|
.0125
|
.0625
|
Complex-Level Managed Asset Breakpoint Level*
|
Effective Rate at Breakpoint Level
|
|
$55 billion
|
.2000
|
%
|
$56 billion
|
.1996
|
|
$57 billion
|
.1989
|
|
$60 billion
|
.1961
|
|
$63 billion
|
.1931
|
|
$66 billion
|
.1900
|
|
$71 billion
|
.1851
|
|
$76 billion
|
.1806
|
|
$80 billion
|
.1773
|
|
$91 billion
|
.1691
|
|
$125 billion
|
.1599
|
|
$200 billion
|
.1505
|
|
$250 billion
|
.1469
|
|
$300 billion
|
.1445
|
*
|
For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen Funds that constitute “eligible assets.” Eligible assets do not include assets attributable to investments in other Nuveen Funds or assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. As of September 30, 2013, the complex-level fee rate for each of these Funds was .1686%.
|
Nuveen Investments
|
71
|
Agreement Approval Process (Unaudited) |
72
|
Nuveen Investments
|
Nuveen Investments
|
73
|
74
|
Nuveen Investments
|
Nuveen Investments
|
75
|
76
|
Nuveen Investments
|
Nuveen Investments
|
77
|
78
|
Nuveen Investments
|
Nuveen Investments
|
79
|
80
|
Nuveen Investments
|
Easily and Conveniently |
Nuveen Investments
|
81
|
■
|
Auction Rate Bond: An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have “failed,” with current holders receiving a formula-based interest rate until the next scheduled auction.
|
■
|
Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.
|
■
|
Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s or bond fund’s value to changes when market interest rates change. Generally, the longer a bond’s or fund’s duration, the more the price of the bond or fund will change as interest rates change.
|
■
|
Effective Leverage: Effective leverage is a fund’s effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects of certain derivative investments in the fund’s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage.
|
■
|
Gross Domestic Product (GDP): The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
|
■
|
Inverse Floating Rate Securities: Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.
|
■
|
Leverage: Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.
|
■
|
Lipper California Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.
|
82
|
Nuveen Investments
|
■
|
Lipper General and Insured Unleveraged Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.
|
■
|
Lipper New York Municipal Debt Funds Classification Average: Calculated using the returns of all closed-end funds in this category. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.
|
■
|
Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total liabilities. NAV per share is equal to the fund’s Net Assets divided by its number of shares outstanding.
|
■
|
Pre-Refunding: Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value.
|
■
|
Regulatory Leverage: Regulatory Leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund’s capital structure. Regulatory leverage is subject to asset coverage limits set in the Investment Company Act of 1940.
|
■
|
S&P Municipal Bond California Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment grade California municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
|
■
|
S&P Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
|
■
|
S&P Municipal Bond New York Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment grade New York municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
|
■
|
Total Investment Exposure: Total investment exposure is a fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities.
|
■
|
Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Tax-exempt income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.
|
Nuveen Investments
|
83
|
84
|
Nuveen Investments
|
Nuveen Investments
|
85
|
86
|
Nuveen Investments
|
Board of Trustees
|
||||||||||
William Adams IV*
|
Robert P. Bremner
|
Jack B. Evans
|
William C. Hunter
|
David J. Kundert
|
John K. Nelson
|
|||||
William J. Schneider
|
Thomas S. Schreier, Jr.*
|
Judith M. Stockdale
|
Carole E. Stone
|
Virginia L. Stringer
|
Terence J. Toth
|
Fund Manager
|
Custodian
|
Legal Counsel
|
Independent Registered
|
Transfer Agent and
|
||||
Nuveen Fund Advisors, LLC
|
State Street Bank
|
Chapman and Cutler LLP
|
Public Accounting Firm
|
Shareholder Services
|
||||
333 West Wacker Drive
|
& Trust Company
|
Chicago, IL 60603
|
Ernst & Young LLP
|
State Street Bank
|
||||
Chicago, IL 60606
|
Boston, MA 02111
|
Chicago, IL 60606
|
& Trust Company
|
|||||
Nuveen Funds
|
||||||||
P.O. Box 43071
|
||||||||
Providence, RI 02940-3071
|
||||||||
(800) 257-8787
|
NXP
|
NXQ
|
NXR
|
NXC
|
NXN
|
||
Shares repurchased
|
—
|
—
|
—
|
—
|
—
|
Nuveen Investments
|
87
|
Nuveen Investments:
|
|
Serving Investors for Generations
|
Distributed by Nuveen Investments, LLC | 333 West Wacker Drive | Chicago, IL 60606 | www.nuveen.com
|
(a)
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
(b)
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
(a)(1)
|
Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
|
(a)(2)
|
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See Ex-99.CERT attached hereto.
|
(a)(3)
|
Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable.
|
(b)
|
If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed "filed" for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: See Ex-99.906 CERT attached hereto.
|