Nuveen Georgia Quality Municipal Income Fund (NKG) NPORT-P Nuveen Georgia Quality Municipal Income Fund (Feb 2023 report)

1

Nuveen

Georgia

Quality

Municipal

Income

Fund

Portfolio

of

Investments

February

28,

2023

(Unaudited)

NKG

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

159.7% (100.0%

of

Total

Investments)  

X

189,580,325

MUNICIPAL

BONDS

-

159.7%  (100.0%

of

Total

Investments)

X

189,580,325

Consumer

Discretionary

-

1.6%

(1.0%

of

Total

Investments)

Geo.

L.

Smith

II

Georgia

World

Congress

Center

Authority,

Georgia,

Convention

Center

Hotel

Revenue

Bonds,  First

Tier

Series

2021A:

$

1,000

4.000%,

1/01/36

1/31

at

100.00

BBB-

$

919,080

1,220

4.000%,

1/01/54

1/31

at

100.00

BBB-

968,070

Total

Consumer

Discretionary

1,887,150

Education

and

Civic

Organizations

-

14.0%

(8.7%

of

Total

Investments)

3,000

Colorado

State

Board

of

Governors,

Colorado

State

University

Auxiliary

Enterprise

System

Revenue

Bonds,

Refunding

Series

2017E,

4.000%,

3/01/43

3/28

at

100.00

AA

2,851,140

1,340

Douglas

County

Development

Authority,

Georgia,

Charter

School

Revenue

Bonds,

Brighten

Academy

Project,

Series

2013B,

7.000%,

10/01/43

10/23

at

100.00

N/R

1,346,981

3,000

Fulton

County

Development

Authority,

Georgia,

Revenue

Bonds,

Robert

W.

Woodruff

Arts

Center,

Inc.

Project,

Refunding

Series

2015A,

5.000%,

3/15/36

3/26

at

100.00

A2

3,130,020

1,530

Gwinnett

County

Development

Authority,  Georgia,

Revenue

Bonds,

Georgia

Gwinnett

College

Student

Housing

Project,

Refunding

Series

2017B,

5.000%,

7/01/37

7/27

at

100.00

A+

1,605,720

3,000

Private

Colleges

and

Universities

Authority,

Georgia,

Revenue

Bonds,

Emory

University,

Refunding

Series

2013A,

5.000%,

10/01/43

10/23

at

100.00

AA

3,011,730

2,000

Private

Colleges

and

Universities

Authority,

Georgia,

Revenue

Bonds,

Emory

University,

Refunding

Series

2016A,

5.000%,

10/01/46,

(UB)

(4)

10/26

at

100.00

AA

2,055,260

830

Private

Colleges

and

Universities

Authority,

Georgia,

Revenue

Bonds,

Mercer

University,

Series

2021,

4.000%,

10/01/50

10/31

at

100.00

A3

737,936

2,000

Savannah

Economic

Development

Authority,

Georgia,

Revenue

Bonds,

Savannah

State

University

Projects,

Refunding

&

Improvement

Series

2021B,

4.000%,

6/15/44

6/31

at

100.00

A+

1,836,360

Total

Education

and

Civic

Organizations

16,575,147

Health

Care

-

11.8%

(7.4%

of

Total

Investments)

4,245

Brookhaven

Development

Authority,

Georgia,

Revenue

Bonds,

Children's

Healthcare

of

Atlanta,

Inc.

Project,

Series

2019A,

4.000%,

7/01/49

7/29

at

100.00

AA+

3,933,502

550

Cobb

County

Kennestone

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Wellstar

Health

System,

Inc.

Project,

Series

2022A,

4.000%,

4/01/52

4/32

at

100.00

A+

486,574

875

Cobb

County

Kennestone

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Wellstar

Health

System,

Series

2020A,

5.000%,

4/01/50

4/30

at

100.00

A+

902,492

Fulton

County

Development

Authority,

Georgia,

Hospital

Revenue

Bonds,

Wellstar

Health

System,

Inc

Project,

Series

2017A:

1,780

5.000%,

4/01/36

4/27

at

100.00

A+

1,851,289

1,000

5.000%,

4/01/37

4/27

at

100.00

A+

1,036,340

3,485

Fulton

County

Development

Authority,

Georgia,

Revenue

Bonds,

Piedmont

Healthcare,

Inc.

Project,

Series

2014A,

5.000%,

7/01/44

7/24

at

100.00

AA-

3,511,033

2,500

Fulton

County

Development

Authority,

Georgia,

Revenue

Bonds,

Piedmont

Healthcare,

Inc.

Project,

Series

2019A,

4.000%,

7/01/49

-

BAM

Insured

7/29

at

100.00

AA

2,303,950

Total

Health

Care

14,025,180

Housing/Multifamily

-

0.8%

(0.5%

of

Total

Investments)

1,205

Atlanta

Urban

Residential

Finance

Authority,

Georgia,

Multifamily

Housing

Revenue

Bonds,

Testletree

Village

Apartments,

Series

2013A,

4.500%,

11/01/35

11/23

at

100.00

B

1,001,813

Total

Housing/Multifamily

1,001,813

Nuveen

Georgia

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

February

28,

2023

(Unaudited)

2

NKG

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Tax

Obligation/General

-

37.5%

(23.5%

of

Total

Investments)

Atlanta,

Georgia,

General

Obligation

Bonds,

Public

Improvement

Social

Series

2022A-1:

$

3,630

5.000%,

12/01/39

12/32

at

100.00

Aa1

$

4,107,055

2,030

5.000%,

12/01/41

12/32

at

100.00

Aa1

2,272,889

4,000

Bryan

County

School

District,

Georgia,

General

Obligation

Bonds,

Series

2018,

5.000%,

8/01/42,

(UB)

(4)

8/26

at

100.00

AA+

4,165,320

2,625

Carroll

City-County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Tanner

Medical

Center

Inc.

Project,

Series

2020,

4.000%,

7/01/50

7/30

at

100.00

AA

2,401,613

3,000

Carroll

City-County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Tanner

Medical

Center,

Inc.

Project,

Series

2015,

5.000%,

7/01/41

7/25

at

100.00

AA

3,049,410

2,000

Clark

County

School

District,

Nevada,

General

Obligation

Bonds,

Limited

Tax

Building

Series

2018A,

4.000%,

6/15/37

6/28

at

100.00

A+

1,979,320

1,760

Crisp

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Crisp

County

Hospital

Project,

Series

2021,

4.000%,

7/01/46

7/31

at

100.00

A1

1,617,387

Decatur

County

School

District,

Georgia,

General

Obligation

Bonds,

Series

2023:

300

5.000%,

10/01/28

No

Opt.

Call

Aa1

335,226

300

5.000%,

10/01/29

No

Opt.

Call

Aa1

341,724

East

Point

Building

Authority,

Georgia,

Revenue

Bonds,

Water

&

Sewer

Project,

Refunding

Series

2017:

1,000

5.000%,

2/01/29

-

AGM

Insured

2/27

at

100.00

AA

1,075,420

650

5.000%,

2/01/35

-

AGM

Insured

2/27

at

100.00

AA

694,681

2,350

Evanston,

Cook

County,

Illinois,

General

Obligation

Bonds,

Corporate

Purpose

Series

2018A,

4.000%,

12/01/43

6/28

at

100.00

AA+

2,265,165

Gainesville

and

Hall

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Northeast

Georgia

Health

Services

Inc.,

Series

2017B:

3,000

5.500%,

2/15/42,

(UB)

(4)

2/27

at

100.00

AA

3,182,190

5,500

5.250%,

2/15/45,

(UB)

(4)

2/27

at

100.00

AA

5,726,930

1,500

Georgia

State

Road

and

Tollway

Authority,

Guaranteed

Revenue

Bonds,

Managed

Lane

System,

Series

2021A,

4.000%,

7/15/37

7/31

at

100.00

AAA

1,528,560

3,550

Georgia

State,

General

Obligation

Bonds,

Series

2015A,

5.000%,

2/01/28

2/25

at

100.00

AAA

3,696,828

170

Jackson

County

School

District,

Georgia,

General

Obligation

Bonds,

School

Series

2019,

5.000%,

3/01/32

3/29

at

100.00

AA+

190,653

345

Lamar

County

School

District,

Georgia,

General

Obligation

Bonds,

Series

2017,

5.000%,

3/01/33

9/27

at

100.00

Aa1

376,061

Valdosta

and

Lowndes

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Refunding

Series

2019A:

500

5.000%,

10/01/34

10/29

at

100.00

Aa2

559,900

370

5.000%,

10/01/36

10/29

at

100.00

Aa2

408,358

195

5.000%,

10/01/37

10/29

at

100.00

Aa2

213,669

Vidalia

School

District,

Toombs

County,

Georgia,

General

Obligation

Bonds,

Series

2016:

500

5.000%,

8/01/30

2/26

at

100.00

Aa1

530,260

400

5.000%,

8/01/31

2/26

at

100.00

Aa1

424,156

3,500

West

Virginia

State,

General

Obligation

Bonds,

State

Road

Competitive

Series

2018B,

4.000%,

6/01/42

6/28

at

100.00

Aa2

3,388,980

Total

Tax

Obligation/General

44,531,755

Tax

Obligation/Limited

-

30.8%

(19.3%

of

Total

Investments)

Atlanta

and

Fulton

County

Recreation

Authority,

Georgia,

Revenue

Bonds,

Zoo

Atlanta

Parking

Facility

Project,

Series

2017:

1,180

5.000%,

12/01/34

12/27

at

100.00

AA+

1,283,616

1,260

5.000%,

12/01/36

12/27

at

100.00

AA+

1,355,962

3,250

Atlanta

Development

Authority,

Georgia,

Revenue

Bonds,

New

Downtown

Atlanta

Stadium

Project,

Senior

Lien

Series

2015A-1,

5.250%,

7/01/44

7/25

at

100.00

A1

3,336,385

575

Atlanta,

Georgia,

Tax

Allocation

Bonds

Atlanta

Station

Project,

Refunding

Series

2017,

5.000%,

12/01/24

No

Opt.

Call

A3

590,479

3

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Tax

Obligation/Limited

(continued)

Atlanta,

Georgia,

Tax

Allocation

Bonds,

Beltline

Project,

Series

2016D:

$

1,200

5.000%,

1/01/30

1/27

at

100.00

A2

$

1,276,068

1,525

5.000%,

1/01/31

1/27

at

100.00

A2

1,622,112

725

Atlanta,

Georgia,

Tax

Allocation

Bonds,

Perry

Bolton

Project

Series

2014,

5.000%,

7/01/41

7/23

at

100.00

A

727,262

3,190

Cobb-Marietta

Coliseum

and

Exhibit

Hall

Authority,

Georgia,

Revenue

Bonds,

Refunding

Series

1993,

5.625%,

10/01/26

-

NPFG

Insured

No

Opt.

Call

Baa2

3,327,680

245

Cobb-Marietta

Coliseum

and

Exhibit

Hall

Authority,

Georgia,

Revenue

Bonds,

Refunding

Series

2005,

5.500%,

10/01/26

-

NPFG

Insured

No

Opt.

Call

AA-

256,642

3,020

Georgia

Local

Governments,

Certificates

of

Participation,

Georgia

Municipal

Association,

Series

1998A,

4.750%,

6/01/28

-

NPFG

Insured

No

Opt.

Call

AAA

3,169,762

700

Georgia

State

Road

and

Tollway

Authority,

Federal

Highway

Grant

Anticipation

Revenue

Bonds,

Series

2017A,

5.000%,

6/01/29

6/27

at

100.00

AA

761,656

Jones

County

Public

Facilities

Authority,

Georgia,

Revenue

Bonds,

Jones

County

Water

&

Sewer

Projects,

Series

2022:

1,055

4.000%,

4/01/35

-

BAM

Insured

4/32

at

100.00

AA

1,097,200

1,425

4.000%,

4/01/39

-

BAM

Insured

4/32

at

100.00

AA

1,415,966

1,725

4.000%,

4/01/42

-

BAM

Insured

4/32

at

100.00

AA

1,669,196

Metropolitan

Atlanta

Rapid

Transit

Authority,

Georgia,

Sales

Tax

Revenue

Bonds,

Third

Indenture,

Series

2015B:

1,000

5.000%,

7/01/41

7/26

at

100.00

AAA

1,042,970

3,000

5.000%,

7/01/42

7/26

at

100.00

AAA

3,123,000

5,000

Miami-Dade

County,

Florida,

Transit

System

Sales

Surtax

Revenue

Bonds,

Series

2018,

4.000%,

7/01/48

7/28

at

100.00

AA

4,699,150

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1:

2,710

4.500%,

7/01/34

7/25

at

100.00

N/R

2,687,073

2,312

4.550%,

7/01/40

7/28

at

100.00

N/R

2,159,108

1,675

Washington

State

Convention

Center

Public

Facilities

District,

Lodging

Tax

Revenue

Bonds,

Refunding

Subordinate

Series

2021B.  Exchange

Purchase,

3.000%,

7/01/58

7/31

at

100.00

Baa3

939,742

Total

Tax

Obligation/Limited

36,541,029

Transportation

-

11.4%

(7.2%

of

Total

Investments)

Atlanta,

Georgia,

Airport

Passenger

Facilities

Charge

and

General

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2014A:

2,575

5.000%,

1/01/32

1/24

at

100.00

AA-

2,613,985

3,750

5.000%,

1/01/34

1/24

at

100.00

AA-

3,804,600

Georgia

Ports

Authority,

Revenue

Bonds,

Series

2021:

4,500

4.000%,

7/01/46

7/31

at

100.00

AA

4,351,275

3,000

4.000%,

7/01/51

7/31

at

100.00

AA

2,820,090

Total

Transportation

13,589,950

U.S.

Guaranteed

-

8.7%

(5.4%

of

Total

Investments)

(5)

500

Columbus,

Georgia,

Water

and

Sewerage

Revenue

Bonds,

Refunding

Series

2014A,

5.000%,

5/01/31,

(Pre-refunded

5/01/24)

5/24

at

100.00

AA+

510,840

2,000

Forsyth

County

Water

and

Sewerage

Authority,

Georgia,

Revenue

Bonds,

Refunding

&

Improvement

Series

2015,

5.000%,

4/01/44,

(Pre-refunded

4/01/25)

4/25

at

100.00

AAA

2,078,460

3,000

Gainesville

and

Hall

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Northeast

Georgia

Health

Services

Inc.,

Series

2014A,

5.500%,

8/15/54,

(Pre-refunded

2/15/25)

2/25

at

100.00

AA

3,134,760

1,500

Habersham

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Series

2014B,

5.000%,

2/01/37,

(Pre-refunded

2/01/24)

2/24

at

100.00

Aa3

1,524,105

3,000

Private

Colleges

and

Universities

Authority,

Georgia,

Revenue

Bonds,

Savannah

College

of

Art

&

Design

Projects,

Series

2014,

5.000%,

4/01/44,

(Pre-refunded

4/01/24)

4/24

at

100.00

A2

3,057,030

Total

U.S.

Guaranteed

10,305,195

Nuveen

Georgia

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

February

28,

2023

(Unaudited)

4

NKG

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Utilities

-

43.1%

(27.0%

of

Total

Investments)

Atlanta,

Georgia,

Water

and

Wastewater

Revenue

Bonds,

Refunding

Series

2018A:

$

4,000

5.000%,

11/01/39,

(UB)

(4)

11/27

at

100.00

Aa2

$

4,255,240

3,210

5.000%,

11/01/41

11/27

at

100.00

Aa2

3,387,481

1,790

Atlanta,

Georgia,

Water

and

Wastewater

Revenue

Bonds,

Refunding

Series

2018B,

5.000%,

11/01/47

11/27

at

100.00

Aa2

1,872,555

260

Atlanta,

Georgia,

Water

and

Wastewater

Revenue

Bonds,

Series

2004,

5.750%,

11/01/30

-

AGM

Insured

No

Opt.

Call

AA

314,166

Bainbridge,

Georgia,

Combined

Utilities

Revenue

Bonds,

Series

2021:

2,875

4.000%,

12/01/46

-

BAM

Insured

12/31

at

100.00

AA

2,667,137

5,000

4.000%,

12/01/51

-

BAM

Insured

12/31

at

100.00

AA

4,546,500

1,250

Burke

County

Development

Authority,

Georgia,

Pollution

Control

Revenue

Bonds,

Oglethorpe

Power

Corporation

Vogtle

Project,

Series

2017C,

4.125%,

11/01/45

2/28

at

100.00

BBB+

1,109,162

1,250

Burke

County

Development

Authority,

Georgia,

Pollution

Control

Revenue

Bonds,

Oglethorpe

Power

Corporation

Vogtle

Project,

Series

2017D,

4.125%,

11/01/45

2/28

at

100.00

BBB+

1,109,163

5

Cherokee

County

Water

and

Sewerage

Authority,

Georgia,

Revenue

Bonds,

Series

2001,

5.000%,

8/01/35

-

AGM

Insured

3/23

at

100.00

Aa1

5,007

500

Columbus,

Georgia,

Water

and

Sewerage

Revenue

Bonds,

Series

2016,

5.000%,

5/01/36

5/26

at

100.00

AA+

526,925

1,750

Dalton,

Georgia,

Combined

Utilities

Revenue

Bonds,

Series

2017,

5.000%,

3/01/33

3/27

at

100.00

A2

1,833,633

1,000

Dalton,

Georgia,

Combined

Utilities

Revenue

Bonds,

Series

2020,

4.000%,

3/01/40

3/30

at

100.00

A2

926,070

DeKalb

County,

Georgia,

Water

and

Sewerage

Revenue

Bonds,

Refunding

Series

2006B:

6,000

5.250%,

10/01/32

-

AGM

Insured

10/26

at

100.00

AAA

6,487,680

300

5.000%,

10/01/35

-

AGM

Insured

10/26

at

100.00

AAA

318,993

1,000

Fulton

County,

Georgia,

Water

and

Sewerage

Revenue

Bonds,

Refunding

Series

2013,

5.000%,

1/01/33

3/23

at

100.00

AA

1,001,680

3,000

Georgia

Municipal

Electric

Authority,

General

Power

Revenue

Bonds,

Series

2012GG,

5.000%,

1/01/43

3/23

at

100.00

A1

3,000,840

1,000

Main

Street

Natural

Gas

Inc.,

Georgia,

Gas

Supply

Revenue

Bonds,

Series

2019A,

5.000%,

5/15/49

No

Opt.

Call

A

992,470

1,525

Main

Street

Natural

Gas

Inc.,

Georgia,

Gas

Supply

Revenue

Bonds,

Series

2019B,

4.000%,

8/01/49,

(Mandatory

Put

12/02/24)

9/24

at

100.43

Aa2

1,525,137

2,000

Main

Street

Natural

Gas

Inc.,

Georgia,

Gas

Supply

Revenue

Bonds,

Variable

Rate

Demand

Bonds

Series

2018A,

4.000%,

4/01/48,

(Mandatory

Put

9/01/23)

6/23

at

100.40

Aa1

2,004,220

3,325

Monroe,

Georgia,

Combined

Utilities

Revenue

Bonds,

Series

2020,

4.000%,

12/01/45

-

AGM

Insured

12/30

at

100.00

AA

3,107,578

650

Municipal

Electric

Authority

of

Georgia,

Plant

Vogtle

Units

3

&

4

Project

P

Bonds,

Series

2021A,

5.000%,

1/01/56

1/30

at

100.00

BBB+

621,823

1,500

Municipal

Electric

Authority

of

Georgia,

Project

One

Revenue

Bonds,

Subordinate

Lien

Series

2015A,

0.000%,

1/01/32

No

Opt.

Call

A2

1,069,920

2,260

Municipal

Electric

Authority

of

Georgia,

Project

One

Revenue

Bonds,

Subordinate

Lien

Series

2016A,

5.000%,

1/01/30

-

BAM

Insured

7/26

at

100.00

AA

2,392,120

1,000

Municipal

Electric

Authority

of

Georgia,

Project

One

Revenue

Bonds,

Subordinate

Lien

Series

2020A,

5.000%,

1/01/59

7/28

at

100.00

BBB+

953,730

Oconee

County,

Georgia,

Water

and

Sewerage

Revenue

Bonds,

Series

2017A:

155

5.000%,

9/01/35

9/27

at

100.00

AA

167,245

535

5.000%,

9/01/37

9/27

at

100.00

AA

571,102

2,000

South

Fulton

Municipal

Regional

Water

and

Sewer

Authority,

Georgia,

Revenue

Bonds,

Refunding

Series

2014,

5.000%,

1/01/30

1/24

at

100.00

AA

2,033,700

5

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)

$

2,315

Walton

County

Water

and

Sewerage

Authority,

Georgia,

Revenue

Bonds,

Oconee-Hard

Creek

Resevoir

Project,

Series

2016,

4.000%,

2/01/38

2/26

at

100.00

Aa1

$

2,321,829

Total

Utilities

51,123,106

Total

Long-Term

Investments

(cost

$195,987,977)

189,580,325

Floating

Rate

Obligations

-

(12.5)%  

(

14,800,000

)

AMTP

Shares,

Net

-

(49.2)%

(6)

(

58,457,147

)

Other

Assets

&

Liabilities,

Net

-

2.0%

2,384,748

Net

Assets

Applicable

to

Common

Shares

-

100%

$

118,707,926

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

189,580,325

$

–

$

189,580,325

Total

$

–

$

189,580,325

$

–

$

189,580,325

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

(3)

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

(4)

Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(5)

Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(6)

AMTP

Shares,

Net

as

a

percentage

of

Total

Investments

is

30.8%

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.

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.