1
Nuveen
California
Quality
Municipal
Income
Fund
Portfolio
of
Investments
May
31,
2022
(Unaudited)
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
161.0% (100.0%
of
Total
Investments)
MUNICIPAL
BONDS
-
161.0% (100.0%
of
Total
Investments)
Consumer
Staples
-
0.6%
(0.4%
of
Total
Investments)
$
1,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Golden
Gate
Tobacco
Funding
Corporation,
Turbo,
Series
2007A,
5.000%,
6/01/47
6/22
at
100.00
N/R
$
999,980
680
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020A,
4.000%,
6/01/49
6/30
at
100.00
BBB+
682,305
25,000
California
Statewide
Financing
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Pooled
Tobacco
Securitization
Program,
Series
2006A,
0.000%,
6/01/46
6/22
at
22.89
N/R
5,710,000
19,000
Silicon
Valley
Tobacco
Securitization
Authority,
California,
Tobacco
Settlement
Asset-Backed
Bonds,
Santa
Clara
County
Tobacco
Securitization
Corporation,
Series
2007B,
0.000%,
6/01/47
7/22
at
23.77
N/R
4,496,540
45,680
Total
Consumer
Staples
11,888,825
Education
and
Civic
Organizations
-
5.1%
(3.2%
of
Total
Investments)
7,000
California
Educational
Facilities
Authority,
Revenue
Bonds,Stanford
University,
Refunding
Series
2014U-6,
5.000%,
5/01/45
No
Opt.
Call
AAA
8,948,800
California
Municipal
Finance
Authority, Revenue
Bonds,
Creative
Center
of
Los
Altos
Project?Pinewood
&
Oakwood
Schools,
Series
2016B:
800
4.000%,
11/01/36,
144A
11/26
at
100.00
N/R
722,312
1,000
4.500%,
11/01/46,
144A
11/26
at
100.00
N/R
889,850
1,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Biola
University,
Series
2013,
5.000%,
10/01/38
10/23
at
100.00
Baa1
1,025,020
350
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Kepler
Neighborhood
School,
Series
2017A,
5.000%,
5/01/27,
144A
No
Opt.
Call
N/R
354,774
1,615
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Project,
Series
2015A,
5.000%,
7/01/45,
144A
7/25
at
100.00
BBB
1,662,077
2,150
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Project,
Series
2016A,
5.000%,
7/01/46,
144A
7/25
at
100.00
BBB
2,210,996
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Alliance
for
College-Ready
Public
Schools
Project,
Series
2016C:
5,995
5.000%,
7/01/46
7/25
at
101.00
BBB
6,216,036
8,340
5.250%,
7/01/52
7/25
at
101.00
BBB
8,691,030
800
California
School
Finance
Authority,
School
Facility
Revenue
Bonds,
Value
Schools,
Series
2016A,
6.000%,
7/01/51,
144A
7/26
at
100.00
BB+
854,688
4,140
California
State
University,
Systemwide
Revenue
Bonds,
Series
2016A,
4.000%,
11/01/38
5/26
at
100.00
Aa2
4,249,627
10,440
California
State
University,
Systemwide
Revenue
Bonds,
Series
2019A,
5.000%,
11/01/49
11/29
at
100.00
Aa2
11,694,470
7,505
California
State
University,
Systemwide
Revenue
Bonds,
Series
2020C,
3.000%,
11/01/40
11/30
at
100.00
Aa2
6,860,020
1,000
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Marist
College
Project,
Series
2015A,
5.000%,
7/01/45
7/25
at
100.00
A+
1,041,190
12,750
University
of
California,
General
Revenue
Bonds,
Limited
Project
Series
2017M,
5.000%,
5/15/47
5/27
at
100.00
AA-
13,857,593
4,400
University
of
California,
General
Revenue
Bonds,
Limited
Project
Series
2018O,
5.000%,
5/15/48
5/28
at
100.00
AA-
4,842,200
6,775
University
of
California,
General
Revenue
Bonds,
Series
2017AV,
5.250%,
5/15/47
5/27
at
100.00
AA
7,453,855
8,500
University
of
California,
General
Revenue
Bonds,
Series
2018AZ,
5.000%,
5/15/48
5/28
at
100.00
AA
9,373,630
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
2
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Education
and
Civic
Organizations
(continued)
$
10,000
University
of
California,
General
Revenue
Bonds,
Series
2020BE,
4.000%,
5/15/47
5/30
at
100.00
AA
$
10,348,400
94,560
Total
Education
and
Civic
Organizations
101,296,568
Financials
-
0.0%
(0.0%
of
Total
Investments)
1,305
Puerto
Rico
Urgent
Interest
Fund
Corp
(COFINA),
National
Taxable
Trust
Unit,
Series
2007A
Sr.
Bond,
0.000%,
8/01/54
(4)
No
Opt.
Call
N/R
318,447
Health
Care
-
14.8%
(9.2%
of
Total
Investments)
9,345
ABAG
Finance
Authority
for
Nonprofit
Corporations,
California,
Revenue
Bonds,
Sharp
HealthCare,
Series
2014A,
5.000%,
8/01/43
8/23
at
100.00
AA
9,578,064
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B:
22,545
5.000%,
11/15/46
11/26
at
100.00
A1
23,850,581
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Series
2018A:
6,135
5.000%,
11/15/36
11/27
at
100.00
A1
6,626,843
7,250
5.000%,
11/15/48
11/27
at
100.00
A1
7,709,287
15,000
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Cedars-
Sinai
Medical
Center,
Refunding
Series
2016B,
4.000%,
8/15/39
8/26
at
100.00
Aa3
15,238,350
6,300
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Children's
Hospital
Los
Angeles,
Series
2017A,
5.000%,
8/15/47
8/27
at
100.00
BBB+
6,624,828
8,625
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
City
of
Hope
National
Medical
Center,
Series
2019,
4.000%,
11/15/45
11/29
at
100.00
A+
8,649,754
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
CommonSpirit
Health, Series
2020A:
17,215
4.000%,
4/01/44
4/30
at
100.00
BBB+
17,097,766
11,290
4.000%,
4/01/49
4/30
at
100.00
BBB+
11,037,894
14,395
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Lucile
Salter
Packard
Children's
Hospital
at
Stanford,
Refunding
Series
2022A.
Forward
Delivery,
4.000%,
5/15/51
5/32
at
100.00
N/R
14,413,570
6,105
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Lucile
Salter
Packard
Children's
Hospital,
Series
2014A,
5.000%,
8/15/43
8/24
at
100.00
AA-
6,349,688
1,250
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Memorial
Health
Services,
Series
2012A,
5.000%,
10/01/33
10/22
at
100.00
AA-
1,261,888
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2014A:
2,230
5.000%,
10/01/38
10/24
at
100.00
AA-
2,307,002
8,375
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014B,
5.000%,
10/01/44
10/24
at
100.00
AA-
8,634,960
16,330
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Refunding
Series
2016A,
4.000%,
10/01/47
10/26
at
100.00
AA-
16,339,308
16,185
California
Municipal
Finance
Authority,
Revenue
Bonds,
Community
Health
System,
Series
2021A,
4.000%,
2/01/51
-
AGM
Insured
2/32
at
100.00
N/R
16,269,648
685
California
Municipal
Finance
Authority,
Revenue
Bonds,
Eisenhower
Medical
Center,
Refunding
Series
2017A,
5.000%,
7/01/42
7/27
at
100.00
Baa2
707,639
11,520
California
Municipal
Finance
Authority,
Revenue
Bonds,
NorthBay
Healthcare
Group,
Series
2017A,
5.250%,
11/01/41
11/26
at
100.00
BBB-
12,077,338
1,455
California
Public
Finance
Authority,
Revenue
Bonds,
Henry
Mayo
Newhall
Hospital,
Series
2017,
5.000%,
10/15/47
10/26
at
100.00
BBB-
1,501,284
5,760
California
Public
Finance
Authority,
Revenue
Bonds,
Sharp
HealthCare,
Series
2017A,
5.000%,
8/01/47
2/28
at
100.00
AA
6,208,070
2,000
California
Statewide
Communities
Development
Authority,
California,
Redlands
Community
Hospital,
Revenue
Bonds,
Series
2016,
5.000%,
10/01/46
10/26
at
100.00
A-
2,112,820
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2014A:
1,000
5.250%,
12/01/34
12/24
at
100.00
BB
1,030,590
1,200
5.250%,
12/01/44
12/24
at
100.00
BB
1,230,228
2,375
5.500%,
12/01/54
12/24
at
100.00
BB
2,443,661
3
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Health
Care
(continued)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A:
$
9,385
5.000%,
12/01/46,
144A
6/26
at
100.00
BB
$
9,499,872
33,895
5.250%,
12/01/56,
144A
6/26
at
100.00
BB
34,521,719
16,445
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2018A,
5.500%,
12/01/58,
144A
6/28
at
100.00
BB
17,006,761
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Adventist
Health
System/West,
Series
2015A:
2,345
5.000%,
3/01/35
3/26
at
100.00
A+
2,480,353
3,000
5.000%,
3/01/45
3/26
at
100.00
A+
3,146,370
5,000
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Adventist
Health
System/West,
Series
2018A,
5.000%,
3/01/48
3/28
at
100.00
A+
5,331,900
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
864
5.750%,
7/01/24
(5),(6)
1/22
at
100.00
N/R
776,583
942
5.750%,
7/01/30
(5),(6)
1/22
at
100.00
N/R
847,217
660
5.750%,
7/01/35
(5),(6)
1/22
at
100.00
N/R
593,090
889
5.500%,
7/01/39
(5),(6)
1/22
at
100.00
N/R
799,616
6,200
Madera
County,
California,
Certificates
of
Participation,
Valley
Children's
Hospital
Project,
Series
1995,
5.750%,
3/15/28
-
NPFG
Insured
7/22
at
100.00
A1
6,675,106
Palomar
Pomerado
Health
System,
California,
Revenue
Bonds,
Refunding
Series
2016:
4,500
4.000%,
11/01/39
11/26
at
100.00
BBB
4,505,580
7,910
5.000%,
11/01/39
11/26
at
100.00
BBB
8,309,060
286,605
Total
Health
Care
293,794,288
Housing/Multifamily
-
17.2%
(10.7%
of
Total
Investments)
22,285
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A,
4.000%,
2/01/56,
144A
8/31
at
100.00
N/R
19,355,191
22,070
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Glendale
Properties,
Junior
Series
2021A-2,
4.000%,
8/01/47,
144A
8/31
at
100.00
N/R
18,293,823
21,610
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A,
5.000%,
2/01/50,
144A
2/30
at
100.00
N/R
21,321,507
6,960
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Stoneridge
Apartments,
Series
2021A,
4.000%,
2/01/56,
144A
2/31
at
100.00
N/R
5,993,117
3,220
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-1,
3.000%,
2/01/57,
144A
8/32
at
100.00
N/R
2,450,130
660
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Summit
at
Sausalito
Apartments,
Series
2021A-2,
4.000%,
2/01/50,
144A
8/32
at
100.00
N/R
530,449
1,385
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Verdant
at
Green
Valley
Apartments,
Series
2019A,
5.000%,
8/01/49,
144A
8/29
at
100.00
N/R
1,372,701
7,575
California
Community
Housing
Agency,
Workforce
Housing
Revenue
Bonds,
Annadel
Apartments,
Series
2019A,
5.000%,
4/01/49,
144A
4/29
at
100.00
N/R
7,335,251
23,011
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series
2019-2,
4.000%,
3/20/33
No
Opt.
Call
BBB+
23,029,480
19,034
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series
2021-1,
3.500%,
11/20/35
No
Opt.
Call
BBB+
18,256,111
3,416
California
Housing
Finance
Agency,
Municipal
Certificate
Revenue
Bonds,
Class
A
Series2019-1,
4.250%,
1/15/35
No
Opt.
Call
BBB+
3,458,812
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
4
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Housing/Multifamily
(continued)
California
Municipal
Finance
Authority,
Mobile
Home
Park
Revenue
Bonds,
Caritas
Affordable
Housing
Inc
Projects,
Senior
Series
2014A:
$
1,680
5.250%,
8/15/39
8/24
at
100.00
A-
$
1,730,618
2,150
5.250%,
8/15/49
8/24
at
100.00
A-
2,204,245
California
Public
Finance
Authority,
University
Housing
Revenue
Bonds,
National
Campus
Community
Development
-
Claremont
Properties
LLC
Claremont
Colleges
Project,
Series
2017A:
1,325
5.000%,
7/01/37,
144A
7/27
at
100.00
Caa2
1,081,756
1,000
5.000%,
7/01/47,
144A
7/27
at
100.00
Caa2
789,930
23,750
CMFA
Special
Finance
Agency
I,
California,
Essential
Housing
Revenue
Bonds,
The
Mix
at
Center
City,
Series
2021A-2,
4.000%,
4/01/56,
144A
4/31
at
100.00
N/R
20,873,400
8,060
CMFA
Special
Finance
Agency,
California,
Essential
Housing
Revenue
Bonds,
Enclave
Apartments,
Senior
Series
2022A-1,
4.000%,
8/01/58,
144A
2/32
at
100.00
N/R
7,032,431
7,345
CMFA
Special
Finance
Agency,
California,
Essential
Housing
Revenue
Bonds,
Latitude
33,
Senior
Series
2021A-1,
3.000%,
12/01/56,
144A
12/31
at
100.00
N/R
5,233,019
3,265
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
777
Place-Pomona,
Senior
Lien
Series
2021A-1,
3.600%,
5/01/47,
144A
5/32
at
100.00
N/R
2,831,800
11,510
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
777
Place-Pomona,
Senior
Lien
Series
2021A-2,
3.250%,
5/01/57,
144A
5/32
at
100.00
N/R
8,838,529
1,720
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Acacia
on
Santa
Rosa
Creek,
Mezzanine
Lien
Series
2021B,
4.000%,
10/01/46,
144A
10/31
at
100.00
N/R
1,391,927
5,690
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Acacia
on
Santa
Rosa
Creek,
Senior
Lien
Series
2021A,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R
5,346,039
20,500
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Altana
Glendale,
Series
2021A-2,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R
18,096,990
23,610
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A,
5.000%,
1/01/54,
144A
1/31
at
100.00
N/R
23,657,928
3,750
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Dublin
Social
Senior
Lien
Series
2021A-2,
3.000%,
2/01/57,
144A
2/32
at
100.00
N/R
2,853,412
4,335
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Jefferson-Anaheim
Series
2021A-1,
2.875%,
8/01/41,
144A
8/31
at
100.00
N/R
3,814,236
7,030
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Jefferson-Anaheim
Series
2021A-2,
3.125%,
8/01/56,
144A
8/31
at
100.00
N/R
5,332,255
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Millennium
South
Bay-
Hawthorne,
Series
2021A-1
and
A-2:
6,210
3.375%,
7/01/43,
144A
7/32
at
100.00
N/R
5,387,548
8,060
3.250%,
7/01/56,
144A
7/32
at
100.00
N/R
6,150,989
21,695
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Moda
at
Monrovia
Station,
Social
Series
2021A-2,
4.000%,
10/01/56,
144A
10/31
at
100.00
N/R
19,492,307
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Monterrey
Station
Apartments,
Senior
Lien
Series
2021A-1:
2,215
3.000%,
7/01/43,
144A
7/32
at
100.00
N/R
1,794,394
9,645
3.125%,
7/01/56,
144A
7/32
at
100.00
N/R
7,221,886
3,220
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Oceanaire-Long
Beach,
Social
Series
2021A-2,
4.000%,
9/01/56,
144A
9/31
at
100.00
N/R
2,893,395
5
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Housing/Multifamily
(continued)
$
450
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Orange
City
Portfolio,
Mezzanine
Lien
Series
2021B,
4.000%,
3/01/57,
144A
3/32
at
100.00
N/R
$
352,179
7,185
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Orange
City
Portfolio,
Senior
Lien
Series
2021A-2,
3.000%,
3/01/57,
144A
3/32
at
100.00
N/R
5,465,270
8,895
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Parallel-Anaheim
Series
2021A,
4.000%,
8/01/56,
144A
8/31
at
100.00
N/R
7,923,577
5,720
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Mezzanine
Senior
Series
2021B,
4.000%,
12/01/56,
144A
12/31
at
100.00
N/R
4,495,234
5,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Pasadena
Portfolio
Social
Bond,
Series
2021A-2,
3.000%,
12/01/56
12/31
at
100.00
N/R
3,807,200
590
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Renaissance
at
City
Center,
Series
2020A,
5.000%,
7/01/51,
144A
7/31
at
100.00
N/R
592,537
8,025
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Union
South
Bay,
Series
2021A-2,
4.000%,
7/01/56,
144A
7/31
at
100.00
N/R
6,964,897
2,010
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Waterscape
Apartments,
Mezzanine
Lien
Series
2021B,
4.000%,
9/01/46,
144A
9/31
at
100.00
N/R
1,634,251
5,700
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-1,
3.000%,
6/01/47,
144A
6/31
at
100.00
N/R
4,504,710
20,760
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Westgate
Phase
1-Pasadena
Apartments,
Senior
Lien
Series
2021A-2,
3.125%,
6/01/57,
144A
6/31
at
100.00
N/R
15,026,918
21,185
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Senior
Lien
Series
2021A-1,
3.000%,
12/01/49
6/32
at
100.00
N/R
15,318,874
394,510
Total
Housing/Multifamily
341,531,253
Tax
Obligation/General
-
30.9%
(19.2%
of
Total
Investments)
4,125
Alameda
Unified
School
District,
Alameda
County,
California,
General
Obligation
Bonds,
Series
2004A,
0.000%,
8/01/25
-
AGM
Insured
No
Opt.
Call
AA
3,826,268
5,245
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2012,
5.000%,
9/01/36
9/22
at
100.00
Aa2
5,283,446
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2013:
9,260
5.000%,
2/01/29
2/23
at
100.00
Aa2
9,457,516
1,710
5.000%,
2/01/31
2/23
at
100.00
Aa2
1,746,474
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2016:
3,750
5.000%,
9/01/30
9/26
at
100.00
Aa2
4,147,088
4,600
5.000%,
8/01/33
8/26
at
100.00
Aa2
5,066,072
8,000
5.000%,
9/01/37
9/26
at
100.00
Aa2
8,781,200
7,250
California
State,
General
Obligation
Bonds,
Refunding
Various
Purpose
Series
2020,
3.000%,
11/01/35
11/30
at
100.00
Aa2
7,070,562
California
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2015:
6,700
5.000%,
8/01/32
2/25
at
100.00
Aa2
7,153,322
11,000
5.000%,
8/01/34
8/25
at
100.00
Aa2
11,865,920
5,000
California
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2016,
5.000%,
9/01/36
9/26
at
100.00
Aa2
5,497,700
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2013:
9,940
5.000%,
4/01/37
4/23
at
100.00
Aa2
10,194,265
9,755
5.000%,
2/01/43
2/23
at
100.00
Aa2
9,942,784
15,145
5.000%,
4/01/43
4/23
at
100.00
Aa2
15,515,901
7,240
5.000%,
11/01/43
11/23
at
100.00
Aa2
7,542,632
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
6
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tax
Obligation/General
(continued)
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2014:
$
24,970
5.000%,
5/01/32
5/24
at
100.00
Aa2
$
26,310,889
8,910
5.000%,
10/01/39
10/24
at
100.00
Aa2
9,447,273
10,245
5.000%,
12/01/43
12/23
at
100.00
Aa2
10,698,649
1,815
5.000%,
10/01/44
10/24
at
100.00
Aa2
1,915,968
9,500
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2015,
5.000%,
3/01/45
3/25
at
100.00
Aa2
10,060,785
3,780
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2017,
5.000%,
11/01/47
11/27
at
100.00
Aa2
4,136,454
8,360
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2018,
5.000%,
10/01/47
4/26
at
100.00
Aa2
8,968,524
8,000
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2018.
Bid
Group
A/B,
5.000%,
10/01/48
10/28
at
100.00
Aa2
8,864,480
3,570
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2019,
5.000%,
10/01/49
10/29
at
100.00
N/R
4,007,039
1,770
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2020,
4.000%,
11/01/45
11/25
at
100.00
Aa2
1,807,648
1,500
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2021,
5.000%,
10/01/41
4/31
at
100.00
N/R
1,743,630
3,550
Centinela
Valley
Union
High
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2002A,
5.250%,
2/01/26
-
NPFG
Insured
No
Opt.
Call
A+
3,774,360
5,400
Central
Unified
School
District,
Fresno
County,
California,
General
Obligation
Bonds,
2016
Election
Series
2018B.,
4.000%,
8/01/48
8/26
at
100.00
Aa3
5,450,166
7,860
Corona-Norco
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Election
2014,
Series
2019C,
3.000%,
8/01/44
-
BAM
Insured
8/28
at
100.00
N/R
7,080,131
5,000
Elk
Grove
Unified
School
District,
Sacramento
County,
California,
General
Obligation
Bonds,
Election
of
2016,
Series
2017,
4.000%,
8/01/46
8/26
at
100.00
N/R
5,060,900
3,300
Evergreen
School
District,
Santa
Clara
County,
California,
General
Obligation
Bonds,
Election
of
2014,
Series
2018,
5.000%,
8/01/46
8/28
at
100.00
Aa2
3,652,935
18,500
Grossmont
Healthcare
District,
California,
General
Obligation
Bonds,
Refunding
Series
2015D,
4.000%,
7/15/40
7/25
at
100.00
N/R
18,628,575
5,150
Hacienda
La
Puente
Unified
School
District
Facilities
Financing
Authority,
California,
General
Obligation
Revenue
Bonds,
Program
Series
2007,
5.000%,
8/01/26
-
AGM
Insured
No
Opt.
Call
AA
5,723,195
3,000
Hacienda
La
Puente
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
2016
Election,
Series
2017A,
4.000%,
8/01/47
8/27
at
100.00
AAA
3,042,630
5,585
Lake
Elsinore
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
2016
Election
Series
B,
4.000%,
8/01/49
-
BAM
Insured
8/27
at
100.00
N/R
5,639,733
5,630
Lake
Tahoe
Unified
School
District,
El
Dorado
County,
California,
General
Obligation
Bonds,
Series
2010,
0.000%,
8/01/45
-
AGM
Insured
(7)
No
Opt.
Call
AA
4,819,730
1,285
Los
Angeles
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Measure
Q
Series
2020C,
4.000%,
7/01/38
7/30
at
100.00
N/R
1,350,843
3,100
Manteca
Unified
School
District,
San
Joaquin
County,
California,
General
Obligation
Bonds,
Election
2014
Series
2017B,
4.000%,
8/01/42
8/27
at
100.00
Aa2
3,184,537
Marin
Healthcare
District,
Marin
County,
California,
General
Obligation
Bonds,
2013
Election,
Series
2015A:
10,000
4.000%,
8/01/40
8/25
at
100.00
N/R
10,156,900
7,500
4.000%,
8/01/45
8/25
at
100.00
N/R
7,587,525
4,100
Monrovia
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2001B,
0.000%,
8/01/27
-
FGIC
Insured
No
Opt.
Call
Aa3
3,571,387
6,950
Morgan
Hill
Unified
School
District,
Santa
Clara
County,
California,
General
Obligation
Bonds,
Election
2012
Series
2017B,
4.000%,
8/01/47
8/27
at
100.00
Aa1
7,111,171
10,765
North
Orange
County
Community
College
District,
California,
General
Obligation
Bonds,
Election
of
2002
Series
2003B,
0.000%,
8/01/27
-
FGIC
Insured
No
Opt.
Call
AA+
9,357,907
1,815
Orland
Joint
Unified
School
District,
Glenn
and
Tehama
Counties,
California,
General
Obligation
Bonds,
2008
Election,
Series
2012B,
0.000%,
8/01/51
(7)
8/37
at
100.00
AA
1,387,731
7
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tax
Obligation/General
(continued)
Pajaro
Valley
Unified
School
District,
Santa
Cruz
County,
California,
General
Obligation
Bonds,
Refunding
Election
2012
Series
2013A:
$
9,650
4.250%,
8/01/47
8/23
at
100.00
N/R
$
9,710,119
10,330
Palomar
Pomerado
Health,
California,
General
Obligation
Bonds,
Convertible
Capital
Appreciation,
Election
2004
Series
2010A,
0.000%,
8/01/35
No
Opt.
Call
A2
6,058,752
5,000
Paramount
Unified
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2006
Series
2011,
0.000%,
8/01/45
(7)
2/33
at
100.00
Aa3
6,050,300
2,500
Pleasant
Valley
School
District,
Ventura
County,
California,
General
Obligation
Bonds,
Refunding
Series
B,
4.000%,
8/01/46
8/29
at
100.00
N/R
2,549,750
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
10,955
4.000%,
7/01/41
7/31
at
103.00
N/R
10,406,374
10,781
4.000%,
7/01/46
7/31
at
103.00
N/R
10,086,380
28,000
San
Bernardino
Community
College
District,
California,
General
Obligation
Bonds,
Election
of
2008
Series
2009B,
0.000%,
8/01/44
No
Opt.
Call
Aa1
11,764,480
7,500
San
Francisco
Bay
Area
Rapid
Transit
District,
General
Obligation
Bonds,
Election
of
2016,
Green
Series
2022D-1,
4.250%,
8/01/52
2/32
at
100.00
N/R
7,699,125
21,000
San
Marcos
Unified
School
District,
San
Diego
County,
California,
General
Obligation
Bonds,
2010
Election,
Series
2012B,
0.000%,
8/01/51
No
Opt.
Call
AA-
6,459,180
20,220
San
Mateo
County
Community
College
District,
California,
General
Obligation
Bonds,
Election
2014
Series
2018B,
5.000%,
9/01/45
9/28
at
100.00
AAA
22,623,551
1,220
San
Mateo
Union
High
School
District,
San
Mateo
County,
California,
General
Obligation
Bonds,
Election
2010
Series
2011A,
0.000%,
7/01/51
(7)
9/41
at
100.00
Aaa
920,453
4,970
San
Rafael
City
High
School
District,
Marin
County,
California,
General
Obligation
Bonds,
Series
2004B,
0.000%,
8/01/27
-
FGIC
Insured
No
Opt.
Call
AA+
4,309,388
8,700
Santa
Ana
College
Improvement
District
1,
Orange
County,
California,
General
Obligation
Bonds,
Rancho
Santiago
Community
College
District,
Election
of
2012,
Series
2017B,
4.000%,
8/01/41
8/27
at
100.00
AA
8,948,646
2,200
Santa
Maria
Joint
Union
High
School
District,
Santa
Barbara
and
San
Luis
Obispo
Counties,
California,
General
Obligation
Bonds,
Series
2003B,
5.625%,
8/01/24
-
AGM
Insured
No
Opt.
Call
Aa3
2,301,398
7,285
Sonoma
County
Junior
College
District,
California,
General
Obligation
Bonds,
Election
2014
Series
2019B,
3.000%,
8/01/37
8/29
at
100.00
AA
6,915,505
4,175
Southwestern
Community
College
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Election
of
2000,
Series
2004,
0.000%,
8/01/25
-
FGIC
Insured
No
Opt.
Call
Aa2
3,869,014
5,530
Stockton
Unified
School
District,
San
Joaquin
County,
California,
General
Obligation
Bonds,
Election
2008
Series
2011D,
0.000%,
8/01/50
-
AGM
Insured
(7)
8/37
at
100.00
AA
6,108,991
26,000
Sylvan
Union
School
District,
Stanislaus
County,
California,
General
Obligation
Bonds,
Election
of
2006,
Series
2010,
0.000%,
8/01/49
-
AGM
Insured
(7)
No
Opt.
Call
AA
23,275,460
Washington
Township
Health
Care
District,
Alameda
County,
California,
General
Obligation
Bonds,
2004
Election
Series
2013B:
4,740
5.500%,
8/01/38
8/24
at
100.00
A1
4,999,230
4,830
5.500%,
8/01/40
8/24
at
100.00
A1
5,089,178
Washington
Township
Health
Care
District,
Alameda
County,
California,
General
Obligation
Bonds,
2012
Election
Series
2013A:
4,355
5.500%,
8/01/38
8/24
at
100.00
A1
4,593,175
3,500
5.500%,
8/01/40
8/24
at
100.00
A1
3,687,810
15,000
Washington
Township
Health
Care
District,
Alameda
County,
California,
General
Obligation
Bonds,
2012
Election
Series
2015B,
4.000%,
8/01/45
8/25
at
100.00
N/R
15,059,100
2,015
Wiseburn
School
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Series
2012C,
5.000%,
8/01/26
8/22
at
100.00
Aa2
2,027,312
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
8
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tax
Obligation/General
(continued)
$
140,160
Yosemite
Community
College
District,
California,
General
Obligation
Bonds,
Capital
Appreciation,
Election
2004,
Series
2010D,
0.000%,
8/01/42
(7)
No
Opt.
Call
Aa2
$
119,287,373
660,246
Total
Tax
Obligation/General
612,432,889
Tax
Obligation/Limited
-
19.3%
(11.9%
of
Total
Investments)
1,675
Beaumont
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Improvement
Area
19A,
Series
2015B,
5.000%,
9/01/35
9/25
at
100.00
N/R
1,753,708
1,655
Bell
Community
Housing
Authority,
California,
Lease
Revenue
Bonds,
Series
2005,
5.000%,
10/01/36
-
AMBAC
Insured
7/22
at
100.00
N/R
1,663,507
1,455
Bell
Community
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Bell
Project
Area,
Series
2003,
5.500%,
10/01/23
-
RAAI
Insured
7/22
at
100.00
AA
1,460,165
California
Infrastructure
and
Economic
Development
Bank,
Lease
Revenue
Bonds,
California
State
Teachers
Retirement
System
Headquarters
Expansion,
Green
Bond-
Climate
Bond
Certified
Series
2019:
1,200
5.000%,
8/01/39
8/29
at
100.00
N/R
1,326,876
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Department
of
Corrections
&
Rehabilitation,
Series
2013G:
10,690
5.250%,
9/01/30
9/23
at
100.00
Aa3
11,126,152
18,135
5.250%,
9/01/32
9/23
at
100.00
Aa3
18,874,908
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Department
of
Corrections
&
Rehabilitation,
Various
Correctional
Facilities
Series
2013F:
8,685
5.250%,
9/01/31
9/23
at
100.00
Aa3
9,039,348
1,450
5.250%,
9/01/33
9/23
at
100.00
Aa3
1,509,160
10,525
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Department
of
Corrections
&
Rehabilitation,
Various
Correctional
Facilities
Series
2014A,
5.000%,
9/01/39
9/24
at
100.00
Aa3
11,089,982
17,395
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Judicial
Council
of
California,
New
Stockton
Courthouse,
Series
2014B,
5.000%,
10/01/39
10/24
at
100.00
Aa3
18,362,684
1,000
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Judicial
Council
of
California,
Various
Projects
Series
2013A,
5.000%,
3/01/30
3/23
at
100.00
Aa3
1,022,770
1,000
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Judicial
Council
of
California,
Yuba
City
Courthouse,
Series
2013D,
5.000%,
6/01/32
6/23
at
100.00
Aa3
1,030,190
9,950
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2013I,
5.000%,
11/01/38
11/23
at
100.00
Aa3
10,351,781
13,520
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2014E,
5.000%,
9/01/39
9/24
at
100.00
Aa3
14,245,754
Government
of
Guam,
Business
Privilege
Tax
Bonds,
Refunding
Series
2015D:
9,000
5.000%,
11/15/29
11/25
at
100.00
BB
9,594,000
11,000
5.000%,
11/15/35
11/25
at
100.00
BB
11,646,140
190
Inglewood
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Merged
Redevelopment
Project,
Refunding
Series
1998A,
5.250%,
5/01/23
-
AMBAC
Insured
No
Opt.
Call
N/R
194,621
Jurupa
Public
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Series
2014A:
530
5.000%,
9/01/29
9/24
at
100.00
A+
563,353
1,900
5.000%,
9/01/30
9/24
at
100.00
A+
2,019,567
1,220
5.000%,
9/01/31
9/24
at
100.00
A+
1,296,774
1,955
Jurupa
Public
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Series
2015A,
5.000%,
9/01/43
9/25
at
100.00
A+
2,092,886
810
Lake
Elsinore
Public
Financing
Authority,
California,
Local
Agency
Revenue
Bonds,
Refunding
Series
2015,
5.000%,
9/01/40
9/25
at
100.00
N/R
843,137
1,000
Lathrop,
California,
Limited
Obligation
Improvement
Bonds,
Crossroads
Assessment
District,
Series
2015,
5.000%,
9/02/40
9/25
at
100.00
N/R
1,040,940
9
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tax
Obligation/Limited
(continued)
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Measure
R
Sales
Tax
Revenue
Bonds,
Senior
Series
2016A:
$
5,125
5.000%,
6/01/36
6/26
at
100.00
AAA
$
5,611,875
5,620
5.000%,
6/01/37
6/26
at
100.00
AAA
6,145,020
5,210
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Proposition
A
First
Tier
Senior
Sales
Tax
Revenue
Bonds,
Green
Series
2017A,
5.000%,
7/01/41
7/27
at
100.00
AAA
5,743,660
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Proposition
C
Sales
Tax
Revenue
Bonds,
Senior
Lien
Series
2017A:
10,455
5.000%,
7/01/38
7/27
at
100.00
AAA
11,572,012
3,995
5.000%,
7/01/39
7/27
at
100.00
AAA
4,416,752
15,615
5.000%,
7/01/42
7/27
at
100.00
AAA
17,193,208
15,060
Los
Angeles
County
Metropolitan
Transportation
Authority,
California,
Proposition
C
Sales
Tax
Revenue
Bonds,
Senior
Lien
Series
2021A,
5.000%,
7/01/45
7/31
at
100.00
N/R
17,432,101
2,000
Los
Angeles
County
Public
Works
Financing
Authority,
California,
Lease
Revenue
Bonds,
Series
2019E-1,
5.000%,
12/01/49
12/29
at
100.00
AA+
2,238,520
Lynwood
Redevelopment
Agency,
California,
Tax
Allocation
Revenue
Bonds,
Project
Area
A,
Subordinate
Lien
Series
2011A:
1,625
6.750%,
9/01/26
7/22
at
100.00
A
1,630,363
750
7.000%,
9/01/31
7/22
at
100.00
A
752,670
1,835
Modesto,
California,
Speical
Tax
Bonds,
Community
Faclities
District
2004-
1
Village
One
2,
Refunding
Series
2014,
5.000%,
9/01/31
9/24
at
100.00
BBB+
1,922,126
1,000
Norco
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Project
Area
1,
Series
2009,
7.000%,
3/01/34
7/22
at
100.00
A+
1,003,580
15,390
Ontario
Redevelopment
Financing
Authority,
San
Bernardino
County,
California,
Revenue
Bonds,
Redevelopment
Project
1,
Refunding
Series
1995,
7.400%,
8/01/25
-
NPFG
Insured
No
Opt.
Call
Baa2
16,334,946
Patterson
Public
Finance
Authority,
California,
Revenue
Bonds,
Community
Facilities
District
2001-1,
Senior
Series
2013A:
11,265
5.250%,
9/01/30
9/23
at
100.00
N/R
11,527,249
10,100
5.750%,
9/01/39
9/23
at
100.00
N/R
10,363,307
1,595
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
1,638,990
8,750
Pittsburg
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Los
Medanos
Community
Development
Project,
Series
1999,
0.000%,
8/01/23
-
AMBAC
Insured
No
Opt.
Call
AA-
8,552,250
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
14,741
0.000%,
7/01/51
7/28
at
30.01
N/R
3,257,024
49,372
5.000%,
7/01/58
7/28
at
100.00
N/R
50,320,436
43
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Taxable
Restructured
Cofina
Project
Series
2019A-2,
4.536%,
7/01/53
7/28
at
100.00
N/R
42,315
3,500
Rancho
Cucamonga
Redevelopment
Agency
Successor
Agency,
California,
Tax
Allocation
Bonds,
Rancho
Redevelopment
Project,
Series
2014,
5.000%,
9/01/30
9/24
at
100.00
AA+
3,709,335
5,000
Riverside
County
Transportation
Commission,
California,
Sales
Tax
Revenue
Bonds,
Refunding
Limited
Tax
Series
2017B,
5.000%,
6/01/39
12/27
at
100.00
AA+
5,503,800
Riverside
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
04-2
Lake
Hill
Crest,
Series
2012:
990
5.000%,
9/01/29
9/22
at
100.00
N/R
994,495
2,615
5.000%,
9/01/35
9/22
at
100.00
N/R
2,624,806
Riverside
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
05-8
Scott
Road,
Series
2013:
555
5.000%,
9/01/30
9/22
at
100.00
N/R
557,292
710
5.000%,
9/01/42
9/22
at
100.00
N/R
712,194
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
10
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tax
Obligation/Limited
(continued)
Roseville,
California,
Special
Tax
Bonds,
Community
Facilities
District
1
Westpark,
Refunding
Series
2015:
$
385
5.000%,
9/01/31
9/25
at
100.00
N/R
$
403,730
575
5.000%,
9/01/37
9/25
at
100.00
N/R
599,110
5,500
Sacramento
Area
Flood
Control
Agency,
California,
Consolidated
Capital
Assessment
District
2
Bonds,
Series
2016A,
5.000%,
10/01/41
10/26
at
100.00
AA
6,003,800
2,540
Sacramento
Area
Flood
Control
Agency,
California,
Consolidated
Capital
Assessment
District
2
Bonds,
Series
2020,
4.000%,
10/01/40
10/30
at
100.00
AA
2,655,189
4,250
Sacramento
City
Financing
Authority,
California,
Tax
Allocation
Revenue
Bonds,
Merged
Downtown
Sacramento
and
Oak
Park
Projects,
Series
2005A,
0.000%,
12/01/31
-
FGIC
Insured
No
Opt.
Call
A
3,070,710
San
Buenaventura
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Merged
Project
Areas,
Series
2008:
1,000
7.750%,
8/01/28
7/22
at
100.00
A
1,004,330
1,325
8.000%,
8/01/38
7/22
at
100.00
A
1,331,175
615
San
Clemente,
California,
Special
Tax
Revenue
Bonds,
Community
Facilities
District
2006-1
Marblehead
Coastal,
Series
2015,
5.000%,
9/01/40
9/25
at
100.00
N/R
640,160
5,000
San
Francisco
Bay
Area
Rapid
Transit
District,
California,
Sales
Tax
Revenue
Bonds,
Series
2019A,
3.000%,
7/01/44
7/27
at
100.00
AA+
4,503,700
255
San
Francisco
City
and
County
Redevelopment
Agency
Successor
Agency,
California,
Special
Tax
Bonds,
Community
Facilities
District 6
Mission
Bay
South
Public
Improvements,
Refunding
Series
2013A,
5.000%,
8/01/33
8/22
at
100.00
N/R
255,625
1,855
San
Francisco
City
and
County
Redevelopment
Agency
Successor
Agency,
California,
Special
Tax
Bonds,
Community
Facilities
District
7,
Hunters
Point
Shipyard
Phase
One
Improvements,
Refunding
Series
2014,
5.000%,
8/01/39
8/24
at
100.00
N/R
1,904,677
5,000
San
Francisco
City
and
County
Redevelopment
Agency
Successor
Agency,
California,
Tax
Allocation
Bonds,
Mission
Bay
North
Redevelopment
Project,
Refunding
Series
2016A,
5.000%,
8/01/41
-
NPFG
Insured
8/26
at
100.00
A
5,390,250
1,315
Signal
Hill
Redevelopment
Agency,
California,
Project
1
Tax
Allocation
Bonds,
Series
2011,
7.000%,
10/01/26
7/22
at
100.00
N/R
1,319,392
2,500
Stockton
Public
Financing
Authority,
California,
Revenue
Bonds,
Arch
Road
East
Community
Facility
District
99-02,
Series
2018A,
5.000%,
9/01/37
9/25
at
103.00
N/R
2,672,375
Temecula
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
16-01,
Series
2017:
1,370
5.500%,
9/01/27,
144A
No
Opt.
Call
N/R
1,423,101
1,455
5.750%,
9/01/32,
144A
9/27
at
100.00
N/R
1,552,572
5,560
6.250%,
9/01/47,
144A
9/27
at
100.00
N/R
5,839,057
1,350
Temecula
Valley
Unified
School
District,
Riverside
County,
California,
Special
Tax
Bonds,
Community
Facilities
District
2002-1
Improvement
Area
1,
Series
2012,
5.000%,
9/01/33
9/22
at
100.00
N/R
1,355,157
4,085
Transbay
Joint
Powers
Authority,
California,
Tax
Allocation
Bonds,
Senior
Green
Series
2020A,
5.000%,
10/01/45
4/30
at
100.00
A-
4,499,913
1,565
Tustin,
California,
Special
Tax
Bonds,
Community
Facilities
District
06-1
Tustin
Legacy/Columbus
Villages,
Refunding
Series
2015A,
5.000%,
9/01/32
9/25
at
100.00
A-
1,660,747
6,870
Vernon
Redevelopment
Agency,
California,
Tax
Allocation
Bonds,
Industrial
Redevelopment
Project,
Series
2005,
5.000%,
9/01/35
-
NPFG
Insured
7/22
at
100.00
Baa2
7,007,606
1,620
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A,
5.000%,
10/01/32
-
AGM
Insured
10/22
at
100.00
AA
1,631,858
1,280
William
S
Hart
School
Financing
Authority,
California,
Refunding
Revenue
Bonds,
Series
2013,
5.000%,
9/01/34
9/23
at
100.00
A
1,330,086
376,126
Total
Tax
Obligation/Limited
382,003,049
Transportation
-
23.4%
(14.5%
of
Total
Investments)
Alameda
Corridor
Transportation
Authority,
California,
Revenue
Bonds,
Refunding
Second
Subordinate
Lien
Series 2016B:
6,990
5.000%,
10/01/34
10/26
at
100.00
BBB+
7,399,474
5,445
5.000%,
10/01/36
10/26
at
100.00
BBB+
5,753,459
11
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Transportation
(continued)
$
10,000
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Subordinate
Fixed
Rate
Series
2017S-7,
4.000%,
4/01/37
4/27
at
100.00
N/R
$
10,356,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018A:
2,040
4.000%,
12/31/47,
(AMT)
6/28
at
100.00
A2
1,932,145
3,500
5.000%,
12/31/47,
(AMT)
6/28
at
100.00
BBB-
3,640,280
1,600
California
Municipal
Finance
Authority,
Revenue
Bonds,
Linxs
APM
Project,
Senior
Lien
Series
2018B,
5.000%,
6/01/48,
(AMT)
6/28
at
100.00
BBB-
1,662,432
5,295
California
Municipal
Finance
Authority,
Special
Facility
Revenue
Bonds,
United
Airlines,
Inc.
Los
Angeles
International
Airport
Project,
Series
2019,
4.000%,
7/15/29,
(AMT)
No
Opt.
Call
B+
5,188,253
1,200
Long
Beach,
California,
Harbor
Revenue
Bonds,
Series
2015D,
5.000%,
5/15/42
5/25
at
100.00
AA
1,279,356
Long
Beach,
California,
Harbor
Revenue
Bonds,
Series
2019A:
10,840
5.000%,
5/15/44
5/29
at
100.00
Aa2
12,056,790
1,000
5.000%,
5/15/49
5/29
at
100.00
Aa2
1,106,250
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
&
Subordinate
Series
2022C:
3,730
4.000%,
5/15/41,
(AMT)
5/32
at
100.00
N/R
3,809,524
4,000
3.250%,
5/15/49,
(AMT)
5/32
at
100.00
N/R
3,379,800
4,850
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Lien
Series
2021A.
Private
Activity,
5.000%,
5/15/41,
(AMT)
5/31
at
100.00
N/R
5,388,690
3,000
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Lien
Series
2021B,
5.000%,
5/15/45
5/31
at
100.00
N/R
3,428,760
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2015D:
2,600
5.000%,
5/15/31,
(AMT)
5/25
at
100.00
Aa2
2,739,672
11,420
5.000%,
5/15/33,
(AMT)
5/25
at
100.00
Aa2
12,034,282
3,000
5.000%,
5/15/36,
(AMT)
5/25
at
100.00
Aa2
3,160,650
11,335
5.000%,
5/15/41,
(AMT)
5/25
at
100.00
Aa2
11,908,097
9,780
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Senior
Lien
Series
2020C,
4.000%,
5/15/50,
(AMT)
5/30
at
100.00
N/R
9,792,127
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2016B:
1,765
5.000%,
5/15/30,
(AMT)
5/26
at
100.00
Aa3
1,886,273
1,000
5.000%,
5/15/34,
(AMT)
5/26
at
100.00
Aa3
1,059,450
6,835
5.000%,
5/15/46,
(AMT)
5/26
at
100.00
Aa3
7,166,293
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2017A:
13,680
5.000%,
5/15/42,
(AMT)
5/27
at
100.00
Aa3
14,567,832
11,250
5.000%,
5/15/47,
(AMT)
5/27
at
100.00
Aa3
11,914,312
22,015
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2018C,
5.000%,
5/15/44,
(AMT)
11/27
at
100.00
Aa3
23,509,158
1,240
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2019D,
5.000%,
5/15/49,
(AMT)
11/28
at
100.00
N/R
1,330,408
5,485
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2019E,
5.000%,
5/15/49
11/28
at
100.00
N/R
6,067,068
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Subordinate
Lien
Series
2021D:
1,000
5.000%,
5/15/34,
(AMT)
11/31
at
100.00
N/R
1,129,260
14,845
4.000%,
5/15/51,
(AMT)
11/31
at
100.00
N/R
14,851,878
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
12
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Transportation
(continued)
$
5,000
Los
Angeles
Harbors
Department,
California,
Revenue
Bonds,
Refunding
Series
2014B,
5.000%,
8/01/44
8/24
at
100.00
AA
$
5,244,550
Los
Angeles
Harbors
Department,
California,
Revenue
Bonds,
Series
2014C:
1,160
5.000%,
8/01/34
8/24
at
100.00
AA
1,222,559
1,575
5.000%,
8/01/35
8/24
at
100.00
AA
1,659,278
1,865
5.000%,
8/01/36
8/24
at
100.00
AA
1,964,088
6,610
5.000%,
8/01/44
8/24
at
100.00
AA
6,933,295
4,780
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Second
Lien
Bonds,
RCTC
91
Express
Lanes,
Refunding
Series
2021C,
4.000%,
6/01/47
6/31
at
100.00
N/R
4,761,836
6,750
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Senior
Lien
Bonds,
RCTC
91
Express
Lanes,
Refunding
Series
2021B-1,
4.000%,
6/01/46
6/31
at
100.00
N/R
6,748,988
5,000
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Refunding
Subordinate
Series
2019A,
5.000%,
7/01/39
7/29
at
100.00
A+
5,483,600
5,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Governmental
Purpose
Second
Series
2017B,
5.000%,
5/01/47
5/27
at
100.00
A1
5,407,450
22,930
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Governmental
Purpose
Series
2016C,
5.000%,
5/01/46
5/26
at
100.00
A1
24,453,011
4,500
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2014B,
5.000%,
5/01/44
5/24
at
100.00
A1
4,662,045
2,690
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2017A,
5.000%,
5/01/47,
(AMT)
5/27
at
100.00
A+
2,814,412
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018D:
27,935
5.000%,
5/01/43,
(AMT)
5/28
at
100.00
A1
29,999,117
77,350
5.000%,
5/01/48,
(AMT)
5/28
at
100.00
A1
82,619,856
6,200
5.250%,
5/01/48,
(AMT)
5/28
at
100.00
A1
6,704,060
5,350
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2018E,
5.000%,
5/01/48
5/28
at
100.00
A1
5,818,125
2,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019A,
5.000%,
5/01/44,
(AMT)
5/29
at
100.00
A1
2,161,440
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019E:
4,900
5.000%,
5/01/39,
(AMT)
5/29
at
100.00
A1
5,348,301
3,335
5.000%,
5/01/40,
(AMT)
5/29
at
100.00
A1
3,635,350
16,300
5.000%,
5/01/50,
(AMT)
5/29
at
100.00
A1
17,549,395
4,000
San
Francisco
Airports
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Second
Series
2019F,
5.000%,
5/01/50
5/29
at
100.00
N/R
4,396,080
19,510
San
Francisco
Municipal
Transportation
Agency,
California,
Revenue
Bonds,
Green
Series
2021C,
5.000%,
3/01/51
3/31
at
100.00
Aa2
22,179,748
16,936
San
Joaquin
Hills
Transportation
Corridor
Agency,
Orange
County,
California,
Refunding
Senior
Lien
Toll
Road
Revenue
Bonds,
Series
2021A,
4.000%,
1/15/50
1/32
at
100.00
N/R
16,847,425
San
Jose,
California,
Airport
Revenue
Bonds,
Refunding
Series
2017A:
3,250
5.000%,
3/01/36,
(AMT)
3/27
at
100.00
A2
3,457,805
3,000
5.000%,
3/01/37,
(AMT)
3/27
at
100.00
A2
3,188,610
438,666
Total
Transportation
464,758,397
13
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
U.S.
Guaranteed
-
24.0%
(14.9%
of
Total
Investments)
(8)
$
4,000
ABAG
Finance
Authority
for
Non-Profit
Corporations,
California,
Revenue
Bonds,
The
Jackson
Laboratory,
Series
2012,
5.000%,
7/01/37,
(Pre-
refunded
7/01/22)
7/22
at
100.00
A1
$
4,012,560
18,400
Antelope
Valley
Community
College
District,
Los
Angeles
County,
California,
General
Obligation
Bonds,
Election
2016
Series
2017A,
5.250%,
8/01/42,
(Pre-refunded
2/15/27)
2/27
at
100.00
AA
20,972,688
5,705
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Series
2013S-4,
5.250%,
4/01/48,
(Pre-refunded
4/01/23)
4/23
at
100.00
A1
5,876,549
9,500
Bay
Area
Toll
Authority,
California,
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Subordinate
Series
2019S-H,
5.000%,
4/01/49,
(Pre-
refunded
4/01/29)
4/29
at
100.00
AA-
11,104,740
Bay
Area
Water
Supply
and
Conservation
Agency,
California,
Revenue
Bonds,
Capital
Cost
Recovery
Prepayment
Program,
Series
2013A:
2,000
5.000%,
10/01/27,
(Pre-refunded
4/01/23)
4/23
at
100.00
AA-
2,056,040
7,000
5.000%,
10/01/34,
(Pre-refunded
4/01/23)
4/23
at
100.00
AA-
7,196,140
1,285
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2015A,
5.000%,
8/15/43,
(Pre-refunded
8/15/25)
8/25
at
100.00
A1
1,401,048
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Refunding
Series
2016B:
15,535
5.000%,
11/15/46,
(Pre-refunded
11/15/26)
11/26
at
100.00
N/R
17,409,298
16,250
California
Health
Facilities
Financing
Authority,
California,
Revenue
Bonds,
Sutter
Health,
Series
2016A,
5.000%,
11/15/46,
(Pre-refunded
11/15/25)
11/25
at
100.00
A1
17,877,437
California
Health
Facilities
Financing
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Refunding
Series
2014A:
1,700
5.000%,
10/01/38,
(Pre-refunded
10/01/24)
10/24
at
100.00
N/R
1,818,507
5,360
California
Infrastructure
and
Economic
Development
Bank,
First
Lien
Revenue
Bonds,
San
Francisco
Bay
Area
Toll
Bridge,
Series
2003A,
5.000%,
7/01/23
-
AGM
Insured,
(ETM)
10/21
at
100.00
AA+
5,558,159
21,255
California
Infrastructure
and
Economic
Development
Bank,
Infrastructure
State
Revolving
Fund
Revenue
Bonds,
Series
2016A,
5.000%,
10/01/41,
(Pre-refunded
10/01/26)
10/26
at
100.00
AAA
23,803,687
California
Municipal
Finance
Authority,
Mobile
Home
Park
Revenue
Bonds,
Caritas
Projects
Series
2012A:
6,540
5.125%,
8/15/32,
(Pre-refunded
8/15/22)
8/22
at
100.00
A-
6,592,582
6,010
5.500%,
8/15/47,
(Pre-refunded
8/15/22)
8/22
at
100.00
A-
6,062,888
3,920
California
Municipal
Finance
Authority,
Mobile
Home
Park
Revenue
Bonds,
Caritas
Projects
Series
2012B,
7.250%,
8/15/47,
(Pre-refunded
8/15/22)
8/22
at
100.00
N/R
3,967,589
18,250
California
Municipal
Finance
Authority,
Revenue
Bonds,
Pomona
College,
Series
2017,
5.000%,
1/01/48,
(Pre-refunded
1/01/28)
1/28
at
100.00
AAA
20,807,920
3,770
California
State
Public
Works
Board,
Lease
Revenue
Bonds,
Various
Capital
Projects,
Series
2012G,
5.000%,
11/01/37,
(Pre-refunded
11/01/22)
11/22
at
100.00
Aa3
3,828,360
5,500
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Buck
Institute
for
Research
on
Aging,
Series
2014,
5.000%,
11/15/44,
(Pre-refunded
11/15/24)
-
AGM
Insured
11/24
at
100.00
AA
5,908,705
2,670
California
Statewide
Communities
Development
Authority,
Revenue
Bonds,
Huntington
Memorial
Hospital,
Refunding
Series
2014B,
5.000%,
7/01/44,
(Pre-refunded
7/01/24)
7/24
at
100.00
A-
2,840,987
7,500
Desert
Community
College
District,
Riverside
County,
California,
General
Obligation
Bonds,
Refunding
Series
2016,
5.000%,
8/01/37,
(Pre-
refunded
2/01/26)
2/26
at
100.00
AA
8,291,325
20,725
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Junior
Lien
Series
2013C,
6.500%,
1/15/43,
(Pre-refunded
1/15/24)
1/24
at
100.00
BBB+
22,106,736
Foothill/Eastern
Transportation
Corridor
Agency,
California,
Toll
Road
Revenue
Bonds,
Refunding
Series
2013A:
45,735
5.750%,
1/15/46,
(Pre-refunded
1/15/24)
1/24
at
100.00
A-
48,641,916
45,725
6.000%,
1/15/53,
(Pre-refunded
1/15/24)
1/24
at
100.00
A-
48,789,947
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
14
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
U.S.
Guaranteed
(8)
(continued)
$
1,000
Fullerton
Community
Facilities
District
1,
California,
Special
Tax
Bonds,
Amerige
Heights,
Refunding
Series
2012,
5.000%,
9/01/32,
(Pre-
refunded
9/01/22)
9/22
at
100.00
A+
$
1,009,370
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Series
2015A:
1,790
5.000%,
6/01/40,
(Pre-refunded
6/01/25)
6/25
at
100.00
N/R
1,947,609
1,460
5.000%,
6/01/40,
(Pre-refunded
6/01/25)
6/25
at
100.00
AA-
1,588,553
86,320
5.000%,
6/01/45,
(Pre-refunded
6/01/25)
6/25
at
100.00
Aa3
93,920,476
1,000
Golden
State
Tobacco
Securitization
Corporation,
California,
Enhanced
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Series
2013A,
5.000%,
6/01/30,
(Pre-refunded
6/01/23)
6/23
at
100.00
Aa3
1,034,430
4,000
Hesperia
Unified
School
District,
San
Bernardino
County,
California,
Certificates
of
Participation,
Series
2013A,
5.000%,
2/01/38,
(Pre-
refunded
2/01/23)
-
BAM
Insured
2/23
at
100.00
AA
4,093,080
9,045
Los
Angeles
County
Public
Works
Financing
Authority,
California,
Lease
Revenue
Bonds,
Multiple
Capital
Facilities
Project
II,
Series
2012,
5.000%,
8/01/42,
(Pre-refunded
8/01/22)
8/22
at
100.00
AA+
9,102,707
5,840
Orange
County
Water
District,
California,
Revenue
Certificates
of
Participation,
Series
1999A,
5.375%,
8/15/29,
(ETM)
No
Opt.
Call
N/R
6,764,122
905
Orange
County
Water
District,
California,
Revenue
Certificates
of
Participation,
Series
2003B,
5.000%,
8/15/34,
(Pre-refunded
8/15/32)
-
NPFG
Insured
8/32
at
100.00
N/R
1,099,946
2,370
Oxnard
School
District,
Ventura
County,
California,
General
Obligation
Bonds,
Election
2012
Series
2013B,
5.000%,
8/01/43,
(Pre-refunded
8/01/23)
-
AGM
Insured
8/23
at
100.00
AA
2,463,520
Pajaro
Valley
Unified
School
District,
Santa
Cruz
County,
California,
General
Obligation
Bonds,
Refunding
Election
2012
Series
2013A:
9,385
5.000%,
8/01/43,
(Pre-refunded
8/01/23)
8/23
at
100.00
Aa3
9,755,332
685
Pomona,
California,
GNMA/FHLMC
Collateralized
Single
Family
Mortgage
Revenue
Refunding
Bonds,
Series
1990B,
7.500%,
8/01/23,
(ETM)
No
Opt.
Call
AA+
711,537
2,000
Puerto
Rico
Public
Finance
Corporation,
Commonwealth
Appropriation
Bonds,
Series
2002E,
6.000%,
8/01/26,
(ETM)
No
Opt.
Call
N/R
2,295,760
1,000
Riverside
County
Transportation
Commission,
California,
Toll
Revenue
Senior
Lien
Bonds,
Series
2013A,
5.750%,
6/01/44,
(Pre-refunded
6/01/23)
6/23
at
100.00
A
1,041,830
1,460
Rohnert
Park
Community
Development
Commission,
California,
Tax
Allocation
Bonds,
Redevelopment
Project
Series
2007R,
5.000%,
8/01/37
-
FGIC
Insured,
(ETM)
7/22
at
100.00
Baa2
1,532,343
5,825
Sacramento,
California,
Wastewater
Revenue
Bonds,
Series
2013,
5.000%,
9/01/42,
(Pre-refunded
9/01/23)
9/23
at
100.00
AA
6,069,126
4,250
San
Diego
Community
College
District,
San
Diego
County,
California,
General
Obligation
Bonds,
Refunding
Series
2016,
5.000%,
8/01/41,
(Pre-refunded
8/01/26)
8/26
at
100.00
AAA
4,751,798
9,550
San
Diego
County
Regional
Airport
Authority,
California,
Airport
Revenue
Bonds,
Senior
Series
2013B,
5.000%,
7/01/43,
(Pre-refunded
7/01/23),
(AMT)
7/23
at
100.00
AA-
9,876,897
5,000
San
Diego
County
Regional
Transportation
Commission,
California,
Sales
Tax
Revenue
Bonds,
Series
2014A,
5.000%,
4/01/44,
(Pre-refunded
4/01/24)
4/24
at
100.00
AAA
5,286,850
Silicon
Valley
Clean
Water,
Mateo
County,
California,
Wastewater
Revenue
Bonds,
Series
2015:
3,000
5.000%,
8/01/40,
(Pre-refunded
8/01/25)
8/25
at
100.00
Aa2
3,277,410
1,600
5.000%,
8/01/45,
(Pre-refunded
8/01/25)
8/25
at
100.00
Aa2
1,747,952
8,760
University
of
California
Regents,
Medical
Center
Pooled
Revenue
Bonds,
Series
2013J,
5.250%,
5/15/31,
(Pre-refunded
5/15/23)
5/23
at
100.00
AA-
9,071,330
440,580
Total
U.S.
Guaranteed
475,367,786
15
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Utilities
-
25.7%
(16.0%
of
Total
Investments)
Bay
Area
Water
Supply
and
Conservation
Agency,
California,
Revenue
Bonds,
Capital
Cost
Recovery
Prepayment
Program,
Series
2013A:
$
6,010
5.000%,
10/01/29
4/23
at
100.00
AA-
$
6,178,400
10,000
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2021B-1,
4.000%,
2/01/52,
(Mandatory
Put
8/01/31)
5/31
at
100.63
A1
10,359,500
5,000
California
Infrastructure
and
Economic
Development
Bank.
Clean
Water
State
Revolving
Fund
Revenue
Bonds,
Green
Series
2018,
5.000%,
10/01/43
4/28
at
100.00
AAA
5,573,200
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012:
3,925
5.000%,
7/01/37,
(AMT),
144A
1/23
at
100.00
BBB
3,939,994
65,500
5.000%,
11/21/45,
(AMT),
144A
1/23
at
100.00
BBB
65,750,210
75
California
Statewide
Community
Development
Authority,
Water
and
Wastewater
Revenue
Bonds,
Pooled
Financing
Program,
Series
2003A,
5.250%,
10/01/23
-
AGM
Insured
7/22
at
100.00
AA
75,220
245
California
Statewide
Community
Development
Authority,
Water
and
Wastewater
Revenue
Bonds,
Pooled
Financing
Program,
Series
2004A,
5.250%,
10/01/24
-
AGM
Insured
7/22
at
100.00
AA
245,806
East
Bay
Municipal
Utility
District,
Alameda
and
Contra
Costa
Counties,
California,
Water
System
Revenue
Bonds,
Green
Series
2017A:
5,000
5.000%,
6/01/42
6/27
at
100.00
AAA
5,505,100
2,200
5.000%,
6/01/45
6/27
at
100.00
AAA
2,412,960
10,000
East
Bay
Municipal
Utility
District,
Alameda
and
Contra
Costa
Counties,
California,
Water
System
Revenue
Bonds,
Series
2014C,
5.000%,
6/01/44
6/24
at
100.00
AAA
10,514,500
Long
Beach
Bond
Finance
Authority,
California,
Natural
Gas
Purchase
Revenue
Bonds,
Series
2007A:
14,140
5.000%,
11/15/35
No
Opt.
Call
AA-
16,058,939
7,610
5.500%,
11/15/37
No
Opt.
Call
AA-
9,123,401
33,735
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2012B,
5.000%,
7/01/43
7/22
at
100.00
Aa2
33,805,169
4,865
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2013B,
5.000%,
7/01/28
7/23
at
100.00
Aa2
5,033,670
4,000
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2014B,
5.000%,
7/01/43
1/24
at
100.00
Aa2
4,162,120
43,605
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2017A,
5.000%,
7/01/42
1/27
at
100.00
Aa2
47,586,136
53,615
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2017C,
5.000%,
7/01/47
7/27
at
100.00
Aa2
58,647,304
10,650
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2018A,
5.000%,
7/01/38
1/28
at
100.00
Aa2
11,839,179
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2018D:
8,960
5.000%,
7/01/38
7/28
at
100.00
Aa2
10,042,637
8,215
5.000%,
7/01/39
7/28
at
100.00
Aa2
9,205,072
8,980
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2019D,
5.000%,
7/01/44
7/29
at
100.00
Aa2
10,168,593
1,500
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2021B,
5.000%,
7/01/48
1/31
at
100.00
Aa2
1,721,055
4,000
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2021C,
5.000%,
7/01/51
7/31
at
100.00
N/R
4,602,880
10,500
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/51
7/31
at
100.00
N/R
12,082,560
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2022B:
5,000
5.000%,
7/01/40
7/32
at
100.00
N/R
5,940,550
4,000
5.000%,
7/01/52
7/32
at
100.00
N/R
4,654,760
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
16
NAC
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Utilities
(continued)
$
3,000
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Tender
Option
Bond
Trust
3345.
As
Of
6/4/2015
Converted
to
Trust
2015-XF2047,
15.542%,
7/01/43,
144A,
(IF)
(9)
7/22
at
100.00
Aa2
$
3,025,020
10,000
Los
Angeles
Department
of
Water
and
Power,
California,
Water
System
Revenue
Bonds,
Series
2022B,
5.000%,
7/01/52
1/32
at
100.00
N/R
11,612,100
Los
Angeles
Department
of
Water
and
Power,
California,
Waterworks
Revenue
Bonds,
Series
2012B:
1,180
5.000%,
7/01/37
7/22
at
100.00
N/R
1,183,705
1,175
5.000%,
7/01/37
7/22
at
100.00
N/R
1,177,797
24,070
Los
Angeles
Department
of
Water
and
Power,
California,
Waterworks
Revenue
Bonds,
Series
2014A,
5.000%,
7/01/44
7/24
at
100.00
AA+
25,358,708
6,770
Los
Angeles
Department
of
Water
and
Power,
California,
Waterworks
Revenue
Bonds,
Series
2016A,
5.000%,
7/01/46
1/26
at
100.00
AA+
7,259,403
10,000
Los
Angeles
Department
of
Water
and
Power,
California,
Waterworks
Revenue
Bonds,
Series
2017A,
5.000%,
7/01/41
1/27
at
100.00
AA+
10,934,300
Los
Angeles
Department
of
Water
and
Power,
California,
Waterworks
Revenue
Bonds,
Series
2018B:
2,000
5.000%,
7/01/38
7/28
at
100.00
AA+
2,246,420
6,650
5.000%,
7/01/48
7/28
at
100.00
AA+
7,397,393
1,490
Los
Angeles,
California,
Wastewater
System
Revenue
Bonds,
Green
Series
2015C,
5.000%,
6/01/45
6/25
at
100.00
AA+
1,583,572
4,420
Los
Angeles,
California,
Wastewater
System
Revenue
Bonds,
Green
Subordinate
Lien
Series
2017A,
5.250%,
6/01/47
6/27
at
100.00
AA
4,870,928
5,000
Los
Angeles,
California,
Wastewater
System
Revenue
Bonds,
Green
Subordinate
Series
2018A,
5.000%,
6/01/48
6/28
at
100.00
AA
5,531,900
Los
Angeles,
California,
Wastewater
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2013A:
1,245
5.000%,
6/01/34
6/23
at
100.00
AA
1,284,342
6,840
5.000%,
6/01/35
6/23
at
100.00
AA
7,054,092
5,025
Metropolitan
Water
District
of
Southern
California,
Water
Revenue
Bonds,
Refunding
Series
2020C,
5.000%,
7/01/38
7/30
at
100.00
AAA
5,810,357
7,525
Moulton
Niguel
Water
District,
California,
Certificates
of
Participation,
Series
2019,
3.000%,
9/01/44
3/29
at
100.00
N/R
6,800,418
7,030
Northern
California
Energy
Authority,
California,
Commodity
Supply
Revenue
Bonds,
Series
2018A,
4.000%,
7/01/49,
(Mandatory
Put
7/01/24)
4/24
at
100.24
A2
7,179,317
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Senior
Lien
Series
2012A:
1,730
5.500%,
7/01/28
7/22
at
100.00
CCC
1,735,726
6,390
5.750%,
7/01/37
7/22
at
100.00
CCC
6,412,429
5,235
6.000%,
7/01/47
7/22
at
100.00
CCC
5,254,370
3,000
Sacramento
County
Sanitation
Districts
Financing
Authority,
California,
Revenue
Bonds,
Sacramento
Regional
County
Sanitation
District,
Series
2014A,
5.000%,
12/01/33
6/24
at
100.00
AA
3,170,010
5,375
Sacramento
County
Sanitation
Districts
Financing
Authority,
California,
Revenue
Bonds,
Sacramento
Regional
County
Sanitation
District,
Series
2020A,
5.000%,
12/01/45
12/30
at
100.00
AA
6,187,001
2,500
Sacremento
Municipal
Utility
District,
California,
Electric
Revenue
Bonds,
Tender
Option
Bond
Trust
2016-XG0060,
15.795%,
8/15/41,
144A,
(IF)
(9)
8/23
at
100.00
AA
2,850,075
4,000
San
Diego
Public
Facilities
Financing
Authority,
California,
Water
Utility
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2016B,
5.000%,
8/01/37
8/26
at
100.00
Aa3
4,386,680
2,570
San
Francisco
City
and
County
Public
Utilities
Commission,
California,
Wastewater
Revenue
Bonds,
Series
2018B,
5.000%,
10/01/43
4/28
at
100.00
AA
2,857,326
2,555
Santa
Clara
Valley
Water
District,
California,
Water
System
Revenue
Bonds,
Refunding Series
2020A,
5.000%,
6/01/50
6/30
at
100.00
Aa1
2,890,446
1,095
Silicon
Valley
Clean
Water,
Mateo
County,
California,
Wastewater
Revenue
Bonds,
Series
2018,
4.000%,
8/01/46
2/28
at
100.00
AA
1,112,673
Southern
California
Public
Power
Authority,
California,
Revenue
Bonds,
Apex
Power
Project
Series
2014A:
1,565
5.000%,
7/01/35
7/24
at
100.00
AA-
1,654,346
1,500
5.000%,
7/01/38
7/24
at
100.00
AA-
1,582,185
17
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Utilities
(continued)
$
4,000
Southern
California
Public
Power
Authority,
Natural
Gas
Project
1
Revenue
Bonds,
Series
2007A,
5.000%,
11/01/33
No
Opt.
Call
A2
$
4,486,920
476,265
Total
Utilities
510,118,874
$
3,214,542
Total
Long-Term
Investments
(cost
$3,101,322,736)
3,193,510,376
Borrowings
-
(1.2)%
(10)
(
23,300,000
)
MuniFund
Preferred
Shares,
net
of
deferred
offering
costs
-
(16.1)%
(11)
(
319,837,119
)
Variable
Rate
Demand
Preferred
Shares,
net
of
deferred
offering
costs
-
(48.1)%
(12)
(
954,442,574
)
Other
Assets
Less
Liabilities
-
4.4%
88,184,030
Net
Assets
Applicable
to
Common
Shares
-
100%
$
1,984,114,713
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
3,190,493,870
$
3,016,506
$
3,193,510,376
Total
$
–
$
3,190,493,870
$
3,016,506
$
3,193,510,376
*
Refer
to
the
Fund’s
Portfolio
of
Investments
for
securities
classified
as
Level
3.
(1)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(2)
Optional
Call
Provisions:
Dates
(month
and
year)
and
prices
of
the
earliest
optional
call
or
redemption.
There
may
be
other
call
provisions
at
varying
prices
at
later
dates.
Certain
mortgage-backed
securities
may
be
subject
to
periodic
principal
paydowns.
(3)
For
financial
reporting
purposes,
the
ratings
disclosed
are
the
highest
of
Standard
&
Poor’s
Group
(“Standard
&
Poor’s”),
Moody’s
Investors
Service,
Inc.
(“Moody’s”)
or
Fitch,
Inc.
(“Fitch”)
rating.
This
treatment
of
split-rated
securities
may
differ
from
that
used
for
other
purposes,
such
as
for
Fund
investment
policies.
Ratings
below
BBB
by
Standard
&
Poor’s,
Baa
by
Moody’s
or
BBB
by
Fitch
are
considered
to
be
below
investment
grade.
Holdings
designated
N/R
are
not
rated
by
any
of
these
national
rating
agencies.
(4)
Effective
February
12,
2019,
the
par
value
of
the
original
bonds
was
replaced
with
taxable
and
tax
exempt
Puerto
Rico
Sales
Tax
Financing
Corporation
(commonly
known
as
COFINA)
bond
units
that
are
collateralized
by
a
bundle
of
zero
and
coupon
paying
bonds.
The
quantity
shown
represents
units
in
a
trust,
which
were
assigned
according
to
the
original
bond’s
accreted
value.
These
securities
do
not
have
a
stated
coupon
interest
rate
and
income
will
be
recognized
through
accretion
of
the
discount
associated
with
the
trust
units.
The
factor
at
which
these
units
accrete
can
also
decrease,
primarily
for
principal
payments
generated
from
coupon
payments
received
or
dispositions
of
the
underlying
bond
collateral.
The
quantity
of
units
will
not
change
as
a
result
of
these
principal
payments.
(5)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(6)
Investment
valued
at
fair
value
using
methods
determined
in
good
faith
by,
or
at
the
discretion
of,
the
Board.
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(7)
Step-up
coupon
bond,
a
bond
with
a
coupon
that
increases
("steps
up"),
usually
at
regular
intervals,
while
the
bond
is
outstanding.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(8)
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.
Nuveen
California
Quality
Municipal
Income
Fund
(continued)
Portfolio
of
Investments
May
31,
2022
(Unaudited)
18
NAC
(9)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(10)
Borrowings
as
a
percentage
of
Total
Investments
is
0.7%.
(11)
MuniFund
Preferred
Shares
,
net
of
deferred
offering
costs
as
a
percentage
of
Total
Investments
is
10.0%.
(12)
Variable
Rate
Demand
Preferred
Shares,
net
of
deferred
offering
costs
as
a
percentage
of
Total
Investments
is
29.9%.
144A
Investment
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
investments
may
only
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
AMT
Alternative
Minimum
Tax
ETM
Escrowed
to
maturity
IF
Inverse
floating
rate
security
issued
by
a
tender
option
bond
(“TOB”)
trust,
the
interest
rate
on
which
varies
inversely
with
the
Securities
Industry
Financial
Markets
Association
(SIFMA)
short-term
rate,
which
resets
weekly,
or
a
similar
short-term
rate,
and
is
reduced
by
the
expenses
related
to
the
TOB
trust.