What's new? Log in Free sign up

Nuveen California Municipal Value Fund (NCA) NPORT-PNuveen California Municipal Value Fund (May 2022 report)

Filed: 28 Jul 22, 4:20pm

1

Nuveen

California

Municipal

Value

Fund

Portfolio

of

Investments

May

31,

2022

(Unaudited)

NCA

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

97.4% (100.0%

of

Total

Investments)

MUNICIPAL

BONDS

-

97.4% (100.0%

of

Total

Investments)

Consumer

Staples

-

0.6%

(0.6%

of

Total

Investments)

$

70

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+

$

70,237

4,895

Silicon

Valley

Tobacco

Securitization

Authority,

California,

Tobacco

Settlement

Asset-Backed

Bonds,

Santa

Clara

County

Tobacco

Securitization

Corporation,

Series

2007A,

0.000%,

6/01/41

7/22

at

34.66

N/R

1,689,656

4,965

Total

Consumer

Staples

1,759,893

Education

and

Civic

Organizations

-

0.8%

(0.8%

of

Total

Investments)

200

California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Partnerships

to

Uplift

Communities

Project,

Series

2012A,

5.250%,

8/01/42

8/22

at

100.00

BB

200,032

220

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

226,242

1,425

California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016C,

5.250%,

7/01/52

7/25

at

101.00

BBB

1,484,978

690

California

State

University,

Systemwide

Revenue

Bonds,

Series

2016A,

4.000%,

11/01/38

5/26

at

100.00

Aa2

708,271

2,535

Total

Education

and

Civic

Organizations

2,619,523

Health

Care

-

7.3%

(7.5%

of

Total

Investments)

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B:

1,155

5.000%,

11/15/46

11/26

at

100.00

A1

1,221,886

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2018A:

1,200

5.000%,

11/15/34

11/27

at

100.00

A1

1,302,228

2,950

5.000%,

11/15/48

11/27

at

100.00

A1

3,136,882

1,090

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+

1,146,200

855

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+

857,454

3,830

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health, Series

2020A,

4.000%,

4/01/49

4/30

at

100.00

BBB+

3,744,476

625

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-

650,050

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2014A:

240

5.000%,

10/01/38

10/24

at

100.00

AA-

248,287

840

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014B,

5.000%,

10/01/44

10/24

at

100.00

AA-

866,074

1,600

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

1,608,368

120

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A,

5.000%,

7/01/42

7/27

at

100.00

Baa2

123,966

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A:

100

5.250%,

11/01/41

11/26

at

100.00

BBB-

104,838

400

5.250%,

11/01/47

11/26

at

100.00

BBB-

416,840

1,000

California

Statewide

Communities

Development

Authority,

California,

Redlands

Community

Hospital,

Revenue

Bonds,

Series

2016,

5.000%,

10/01/46

10/26

at

100.00

A-

1,056,410

Nuveen

California

Municipal

Value

Fund

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

2

NCA

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Health

Care

(continued)

$

150

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A,

5.250%,

12/01/34

12/24

at

100.00

BB

$

154,589

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A:

2,390

5.000%,

12/01/46,

144A

6/26

at

100.00

BB

2,419,254

3,410

5.250%,

12/01/56,

144A

6/26

at

100.00

BB

3,473,051

1,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A,

5.250%,

12/01/48,

144A

6/28

at

100.00

BB

1,023,950

22,955

Total

Health

Care

23,554,803

Housing/Multifamily

-

9.9%

(10.1%

of

Total

Investments)

2,175

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

1,889,053

2,190

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

1,815,291

1,420

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

1,401,043

800

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

688,864

905

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

688,624

1,115

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

1,079,710

2,232

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2019-2,

4.000%,

3/20/33

No

Opt.

Call

BBB+

2,234,096

1,878

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-1,

3.500%,

11/20/35

No

Opt.

Call

BBB+

1,801,094

331

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1,

4.250%,

1/15/35

No

Opt.

Call

BBB+

335,193

California

Municipal

Finance

Authority,

Mobile

Home

Park

Revenue

Bonds,

Caritas

Affordable

Housing

Inc

Projects,

Senior

Series

2014A:

80

5.250%,

8/15/39

8/24

at

100.00

A-

82,410

215

5.250%,

8/15/49

8/24

at

100.00

A-

220,425

2,320

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

2,039,002

800

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

698,008

405

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

288,546

125

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

108,415

1,130

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

867,727

175

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

141,620

560

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

526,148

2,005

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

1,769,974

3

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Housing/Multifamily

(continued)

$

2,310

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

$

2,314,689

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Millennium

South

Bay-

Hawthorne,

Series

2021A-1

and

A-2:

610

3.375%,

7/01/43,

144A

7/32

at

100.00

N/R

529,212

800

3.250%,

7/01/56,

144A

7/32

at

100.00

N/R

610,520

1,925

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

1,729,555

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1:

220

3.000%,

7/01/43,

144A

7/32

at

100.00

N/R

178,224

950

3.125%,

7/01/56,

144A

7/32

at

100.00

N/R

711,332

1,345

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

1,023,074

880

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

783,895

750

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

589,410

555

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

422,599

795

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

689,980

560

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

442,568

2,035

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

1,473,014

2,080

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

1,504,048

36,676

Total

Housing/Multifamily

31,677,363

Long-Term

Care

-

0.2%

(0.3%

of

Total

Investments)

780

California

Health

Facilities

Financing

Authority,

Insured

Revenue

Bonds,

Community

Program

for

Persons

with

Developmental

Disabilities,

Series

2011A,

6.250%,

2/01/26

7/22

at

100.00

AA

782,675

Tax

Obligation/General

-

25.8%

(26.4%

of

Total

Investments)

4,000

Anaheim

Union

High

School

District,

Orange

County,

California,

General

Obligation

Bonds,

2014

Election

Series

2019,

3.000%,

8/01/40

-

BAM

Insured

8/27

at

100.00

N/R

3,689,720

1,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Series

2013,

5.000%,

2/01/29

2/23

at

100.00

Aa2

1,021,330

3,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Refunding

Series

2015,

5.000%,

8/01/34

8/25

at

100.00

Aa2

3,236,160

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2013:

2,500

5.000%,

4/01/37

4/23

at

100.00

Aa2

2,563,950

2,500

5.000%,

2/01/43

2/23

at

100.00

Aa2

2,548,125

2,240

5.000%,

11/01/43

11/23

at

100.00

Aa2

2,333,632

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2014:

5,000

5.000%,

5/01/32

5/24

at

100.00

Aa2

5,268,500

1,970

5.000%,

10/01/39

10/24

at

100.00

Aa2

2,088,791

Nuveen

California

Municipal

Value

Fund

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

4

NCA

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Tax

Obligation/General

(continued)

$

2,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2018,

5.000%,

10/01/47

4/26

at

100.00

Aa2

$

2,145,580

2,100

Carlsbad

Unified

School

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Series

2009B,

6.000%,

5/01/34

5/24

at

100.00

Aa1

2,259,348

3,000

Chaffey

Community

College

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

Taxable

Refunding

Series

2019,

4.000%,

6/01/43

6/28

at

100.00

N/R

3,088,530

Los

Angeles

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2008

Series

2018B-1:

1,000

5.000%,

7/01/37

1/28

at

100.00

AA+

1,107,570

4,000

5.000%,

7/01/38

1/28

at

100.00

AA+

4,424,840

1,000

5.250%,

7/01/42

1/28

at

100.00

AA+

1,113,790

2,000

Marin

Healthcare

District,

Marin

County,

California,

General

Obligation

Bonds,

2013

Election,

Series

2015A,

4.000%,

8/01/40

8/25

at

100.00

N/R

2,031,380

1,000

Oxnard

Union

High

School

District,

Ventura

County,

California,

General

Obligation

Bonds,

Election

2018

Series

2020B,

5.000%,

8/01/45

8/28

at

100.00

Aa2

1,108,490

2,000

Pittsburg

Unified

School

District

Financing

Authority,

Contra

Costa

County,

California, General

Obligation

Bonds,

Pittsburg

Unified

School

District

Bond

Program,

Series

2019,

5.000%,

9/01/47

-

AGM

Insured

9/28

at

100.00

AA

2,206,540

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1:

519

4.000%,

7/01/41

7/31

at

103.00

N/R

493,009

2,000

4.000%,

7/01/46

7/31

at

103.00

N/R

1,871,140

840

San

Benito

High

School

District,

San

Benito

and

Santa

Clara

Counties,

California,

General

Obligation

Bonds,

2016

Election

Series

2017,

5.250%,

8/01/46

8/27

at

100.00

Aa3

924,235

9,000

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-

2,768,220

5,000

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

5,594,350

11,875

San

Mateo

Union

High

School

District,

San

Mateo

County,

California,

General

Obligation

Bonds,

Election

2010

Series

2011A,

0.000%,

9/01/41

(4)

9/36

at

100.00

Aaa

11,810,281

19,860

Yosemite

Community

College

District,

California,

General

Obligation

Bonds,

Capital

Appreciation,

Election

2004,

Series

2010D,

0.000%,

8/01/42

(4)

No

Opt.

Call

Aa2

16,902,449

89,404

Total

Tax

Obligation/General

82,599,960

Tax

Obligation/Limited

-

9.5%

(9.8%

of

Total

Investments)

855

Artesia

Redevelopment

Agency,

California,

Tax

Allocation

Revenue

Bonds,

Artesia

Redevelopment

Project

Area,

Series

2007,

5.375%,

6/01/27

7/22

at

100.00

BBB+

856,471

Bell

Community

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Bell

Project

Area,

Series

2003:

1,295

5.500%,

10/01/23

-

RAAI

Insured

7/22

at

100.00

AA

1,299,597

1,000

5.625%,

10/01/33

-

RAAI

Insured

7/22

at

100.00

AA

1,003,580

1,000

California

Infrastructure

and

Economic

Development

Bank,

Lease

Revenue

Bonds,

California

State

Teachers?

Retirement

System

Headquarters

Expansion,

Green

Bond-Climate

Bond

Certified

Series

2019,

5.000%,

8/01/35

8/29

at

100.00

N/R

1,124,980

1,500

California

State

Public

Works

Board,

Lease

Revenue

Bonds,

Department

of

Corrections

&

Rehabilitation,

Various

Correctional

Facilities

Series

2013F,

5.250%,

9/01/33

9/23

at

100.00

Aa3

1,561,200

1,250

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

1,317,100

4,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Measure

R

Sales

Tax

Revenue

Bonds,

Senior

Series

2016A,

5.000%,

6/01/38

6/26

at

100.00

AAA

4,364,920

2,300

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Senior

Lien

Series

2017A,

5.000%,

7/01/39

7/27

at

100.00

AAA

2,542,811

5

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Tax

Obligation/Limited

(continued)

$

1,000

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+

$

1,119,260

Patterson

Public

Finance

Authority,

California,

Revenue

Bonds,

Community

Facilities

District

2001-1,

Senior

Series

2013A:

1,145

5.250%,

9/01/30

9/23

at

100.00

N/R

1,171,655

1,040

5.750%,

9/01/39

9/23

at

100.00

N/R

1,067,113

170

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

174,689

4,708

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1,

5.000%,

7/01/58

7/28

at

100.00

N/R

4,798,441

70

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

72,864

155

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

159,151

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

135

Signal

Hill

Redevelopment

Agency,

California,

Project

1

Tax

Allocation

Bonds,

Series

2011,

7.000%,

10/01/26

7/22

at

100.00

N/R

135,451

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A:

1,000

5.000%,

9/01/33

9/25

at

103.00

N/R

1,072,780

765

5.000%,

9/01/43

9/25

at

103.00

N/R

813,034

200

Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017,

5.750%,

9/01/32,

144A

9/27

at

100.00

N/R

213,412

185

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A,

5.000%,

10/01/49

4/30

at

100.00

A-

203,211

28,773

Total

Tax

Obligation/Limited

30,461,970

Transportation

-

16.4%

(16.9%

of

Total

Investments)

1,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

5.000%,

12/31/47,

(AMT)

6/28

at

100.00

BBB-

1,040,080

225

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+

220,464

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Series

2013A:

1,945

5.000%,

1/15/42

-

AGM

Insured

1/24

at

100.00

AA

2,025,465

2,580

Long

Beach,

California,

Harbor

Revenue

Bonds,

Series

2019A,

5.000%,

5/15/49

5/29

at

100.00

Aa2

2,854,125

1,480

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Private

Activity/AMT

Subordinate

Series

2019A,

5.000%,

5/15/49,

(AMT)

5/29

at

100.00

Aa3

1,595,248

5,665

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Senior

Lien

Series

2015D,

5.000%,

5/15/41,

(AMT)

5/25

at

100.00

Aa2

5,951,422

4,130

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018A,

5.250%,

5/15/48,

(AMT)

5/28

at

100.00

Aa3

4,467,793

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D:

2,670

5.000%,

5/15/33,

(AMT)

11/28

at

100.00

Aa3

2,930,272

1,000

5.000%,

5/15/38,

(AMT)

11/28

at

100.00

N/R

1,087,580

3,000

Los

Angeles

Harbors

Department,

California,

Revenue

Bonds,

Series

2014C,

5.000%,

8/01/44

8/24

at

100.00

AA

3,146,730

Nuveen

California

Municipal

Value

Fund

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

6

NCA

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Transportation

(continued)

$

2,000

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

$

2,162,980

13,570

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

14,471,319

4,535

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

5.000%,

5/01/48,

(AMT)

5/28

at

100.00

A1

4,843,969

4,465

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

4,907,124

665

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

661,522

250

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Toll

Road

Revenue

Bonds,

Refunding

Junior

Lien

Series

2014B,

5.250%,

1/15/44

1/25

at

100.00

BBB+

259,915

49,180

Total

Transportation

52,626,008

U.S.

Guaranteed

-

7.5%

(7.7%

of

Total

Investments)

(5)

1,500

Bay

Area

Toll

Authority,

California,

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Subordinate

Series

2019S-H,

5.000%,

4/01/44,

(Pre-

refunded

4/01/29)

4/29

at

100.00

AA-

1,753,380

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

310,738

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B:

795

5.000%,

11/15/46,

(Pre-refunded

11/15/26)

11/26

at

100.00

N/R

890,917

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2014A:

185

5.000%,

10/01/38,

(Pre-refunded

10/01/24)

10/24

at

100.00

N/R

197,896

1,130

California

Municipal

Finance

Authority,

Mobile

Home

Park

Revenue

Bonds,

Caritas

Projects

Series

2012A,

5.500%,

8/15/47,

(Pre-refunded

8/15/22)

8/22

at

100.00

A-

1,139,944

250

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

253,035

3,000

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

3,046,440

2,215

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+

2,362,674

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Series

2013A:

4,875

5.750%,

1/15/46,

(Pre-refunded

1/15/24)

1/24

at

100.00

A-

5,184,855

4,875

6.000%,

1/15/53,

(Pre-refunded

1/15/24)

1/24

at

100.00

A-

5,201,771

Golden

State

Tobacco

Securitization

Corporation,

California,

Enhanced

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Refunding

Series

2015A:

100

5.000%,

6/01/40,

(Pre-refunded

6/01/25)

6/25

at

100.00

N/R

108,805

80

5.000%,

6/01/40,

(Pre-refunded

6/01/25)

6/25

at

100.00

AA-

87,044

3,520

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+

3,542,458

22,810

Total

U.S.

Guaranteed

24,079,957

7

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

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Utilities

-

19.4%

(19.9%

of

Total

Investments)

$

1,000

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

$

1,114,640

California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012:

2,875

5.000%,

7/01/37,

(AMT),

144A

1/23

at

100.00

BBB

2,885,983

3,750

5.000%,

11/21/45,

(AMT),

144A

1/23

at

100.00

BBB

3,764,325

4,240

East

Bay

Municipal

Utility

District,

Alameda

and

Contra

Costa

Counties,

California,

Water

System

Revenue

Bonds,

Green

Series

2017A,

5.000%,

6/01/45

6/27

at

100.00

AAA

4,650,432

2,000

Irvine

Ranch

Water

District,

California,

Certificates

of

Participation,

Irvine

Ranch

Water

District

Series

2016,

5.000%,

3/01/41

9/26

at

100.00

AAA

2,185,740

1,800

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A,

5.500%,

11/15/37

No

Opt.

Call

AA-

2,157,966

1,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2016A,

5.000%,

7/01/40

1/26

at

100.00

Aa2

1,078,300

835

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2016B,

5.000%,

7/01/37

1/26

at

100.00

Aa2

904,923

4,850

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

5,292,805

2,630

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2017C,

5.000%,

7/01/42

7/27

at

100.00

Aa2

2,894,499

1,890

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

2,101,037

6,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2017A,

5.000%,

7/01/41

1/27

at

100.00

AA+

6,560,580

4,475

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2018A,

5.000%,

7/01/48

1/28

at

100.00

AA+

4,939,908

4,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2018B,

5.000%,

7/01/38

7/28

at

100.00

AA+

4,492,840

375

Los

Angeles,

California,

Wastewater

System

Revenue

Bonds,

Green

Subordinate

Lien

Series

2017A,

5.250%,

6/01/47

6/27

at

100.00

AA

413,258

1,400

Los

Angeles,

California,

Wastewater

System

Revenue

Bonds,

Green

Subordinate

Series

2018A,

5.000%,

6/01/38

6/28

at

100.00

AA

1,571,178

2,355

Mesa

Water

District,

California,

Certificates

of

Participation,

Series

2020,

4.000%,

3/15/45

3/30

at

100.00

AAA

2,433,751

1,000

M-S-R

Energy

Authority,

California,

Gas

Revenue

Bonds,

Citigroup

Prepay

Contracts,

Series

2009C,

6.500%,

11/01/39

No

Opt.

Call

A

1,280,840

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Senior

Lien

Series

2012A:

170

5.500%,

7/01/28

7/22

at

100.00

CCC

170,563

635

5.750%,

7/01/37

7/22

at

100.00

CCC

637,229

515

6.000%,

7/01/47

7/22

at

100.00

CCC

516,905

1,190

Sacramento,

California,

Wastewater

Revenue

Bonds,

Series

2019,

5.000%,

9/01/39

9/29

at

100.00

AA

1,352,375

San

Diego

Public

Facilities

Financing

Authority,

California,

Water

Utility

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2016B:

2,670

5.000%,

8/01/32

8/26

at

100.00

Aa3

2,944,076

3,000

5.000%,

8/01/37

8/26

at

100.00

Aa3

3,290,010

2,400

Southern

California

Public

Power

Authority,

Natural

Gas

Project

1

Revenue

Bonds,

Series

2007A,

5.250%,

11/01/24

No

Opt.

Call

A2

2,533,104

57,055

Total

Utilities

62,167,267

$

315,133

Total

Long-Term

Investments

(cost

$300,676,224)

312,329,419

Other

Assets

Less

Liabilities

-

2.6%

8,410,607

Net

Assets

Applicable

to

Common

Shares

-

100%

$

320,740,026

Nuveen

California

Municipal

Value

Fund

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

8

NCA

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:

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

312,329,419

$

–

$

312,329,419

Total

$

–

$

312,329,419

$

–

$

312,329,419

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

(3)

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

(4)

Step-up

coupon

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.

(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.

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

We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.