UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-05309
Nuveen Investment Funds, Inc.
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Address of principal executive offices) (Zip code)
Kevin J. McCarthy
Nuveen Investments
333 West Wacker Drive, Chicago, IL 60606
(Name and address of agent for service)
Registrant’s telephone number, including area code: (312) 917-7700
Date of fiscal year end: April 30
Date of reporting period: October 31, 2013
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policy making roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss.3507.
Item 1. Reports to Stockholders.
Mutual Funds |
Nuveen Municipal
Bond Funds |
Dependable, tax-free income because it’s not what you earn, its what you keep.® |
| Semi-Annual Report October 31, 2013 |
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Fund Name | Class A | Class B | Class C | Class I | ||||||||||
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Nuveen All-American Municipal Bond Fund | FLAAX | FAAMX | FAACX | FAARX | ||||||||||
Nuveen Inflation Protected Municipal Bond Fund | NITAX | — | NIPCX | NIPIX | ||||||||||
Nuveen Intermediate Duration Municipal Bond Fund | NMBAX | NUMBX | NNSCX | NUVBX | ||||||||||
Nuveen Limited Term Municipal Bond Fund | FLTDX | — | FLTCX | FLTRX | ||||||||||
Nuveen Short Term Municipal Bond Fund | FSHAX | — | NSVCX | FSHYX |
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Nuveen Investments | 3 |
Chairman’s Letter to Shareholders
Dear Shareholders,
I am pleased to have this opportunity to introduce myself to you as the new independent chairman of the Nuveen Fund Board, effective July 1, 2013. I am honored to have been selected as chairman, with its primary responsibility to serve the interests of the Nuveen Fund shareholders. My predecessor, Robert Bremner, was the first independent director to serve as chairman of the Board and I, and my fellow Board members, plan to continue his legacy of strong independent oversight of your funds.
The global economy has hit major turning points over the last several months to a year. The developed world is gradually recovering from their financial crisis while the emerging markets appear to be struggling with the downshift of China’s growth potential. Japan is entering a new era of growth after decades of economic stagnation and many of the Eurozone nations appear to be exiting their recession. Despite the positive events, there are still potential risks. Middle East tensions, rising oil prices, defaults in Europe and fallout from the financial stress in emerging markets could all reverse the recent progress in the global economy.
On the domestic front, recent events such as the Federal Reserve decision to slow down its bond buying program beginning in January of 2014 and the federal budget compromise that would guide government spending into 2015 are both positives for the economy moving forward. Corporate fundamentals are strong as earnings per share and corporate cash are at the highest level in two decades. Unemployment is trending down and the housing market has experienced a rebound, each assisting the positive economic scenario. However, there are some issues to be watched. Interest rates are expected to increase but significant uncertainty about the timing remains. Partisan politics in Washington D.C. with their troublesome outcome add to the uncertainties that could cause problems for the economy going forward.
In the near term, governments are focused on economic recovery and the growth of their economies, which could lead to an environment of attractive investment opportunities. Over the long term, the uncertainties mentioned earlier could hinder the potential growth. Because of this, Nuveen’s investment management teams work hard to balance return and risk with a range of investment strategies. I encourage you to read the following commentary on the management of your fund.
On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.
Sincerely,
William J. Schneider
Chairman of the Board
December 23, 2013
4 | Nuveen Investments |
Nuveen All-American Municipal Bond Fund
Nuveen Inflation Protected Municipal Bond Fund
Nuveen Intermediate Duration Municipal Bond Fund
Nuveen Limited Term Municipal Bond Fund
Nuveen Short Term Municipal Bond Fund
These Funds feature portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen Investments, Inc. John Miller, CFA, and Doug White, CFA, manage the Nuveen All-American Municipal Bond Fund. John began managing the Fund in 2010, and Doug joined him as co-manager of the Fund in 2011. Dan Close, CFA, and Doug Baker, CFA, have managed the Nuveen Inflation Protected Municipal Bond Fund since its inception in 2011. Paul Brennan, CFA, has managed the Nuveen Intermediate Duration Municipal Bond Fund since 2007 and the Nuveen Limited Term Municipal Bond Fund since 2006. Chris Drahn, CFA, has managed the Nuveen Short Term Municipal Bond Fund since 2002.
Recently, the portfolio managers discussed key investment strategies and the Funds’ performance for the six-month period ending October 31, 2013.
How did the Funds perform during the six-month reporting period ending October 31, 2013?
The tables in the Fund Performance, Expense and Effective Leverage Ratios section of this report provide each Fund’s total return performance information for its Class A Shares at net asset value (NAV) for the applicable six-month, one-year, five-year, ten-year and since-inception periods ending October 31, 2013. Each Fund’s returns are compared with the performance of a corresponding market index and Lipper classification average.
Investors in municipal bonds experienced an extremely challenging market environment between May and August, although conditions began to improve in the final two months of the reporting period. Two main factors drove the tax-exempt bond market lower. The first came from the Federal Reserve (Fed). In May, the U.S. central bank announced its intention to taper its economic stimulus program, known as quantitative easing, once the economy proved it could sustain growth. Fixed-investors reacted poorly to the prospect of an end to this massive bond buying program, designed to keep down long-term interest rates. In response, bond yields rose sharply, while the securities’ prices fell accordingly. (Bond yields and prices move in opposite directions.) The second factor resulted when municipal bond investors, already nervous about rising rates, became further concerned about credit risk—despite what we saw as a healthy fundamental backdrop for the vast majority of municipal borrowers. This preoccupation was heightened during the summer months, when Detroit filed for Chapter 9 bankruptcy and the credit quality of Puerto Rico continued to deteriorate.
Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s (S&P), Moody’s Investors Service (Moody’s), Inc. or Fitch, Inc. (Fitch). Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
Nuveen Investments | 5 |
Portfolio Managers’ Comments (continued)
The combination of rising interest rates, credit worries and strong equity market performance led to significant investment outflows from the tax-exempt bond sector. This trend remained in place for most of the reporting period. On the positive side, the market responded positively in September and October, as the Fed put its tapering plans on hold and investors took advantage of opportunities to buy municipal bonds at newly attractive prices.
Nuveen All-American Municipal Bond Fund
During the six months ending October 31, 2013, the Nuveen All-American Municipal Bond Fund’s Class A Shares at net asset value (NAV) underperformed both the benchmark national S&P Municipal Bond Index and the Lipper General Municipal Debt Funds Classification Average.
Duration positioning was the primary reason for the Fund’s relative underperformance. Specifically, the portfolio’s duration, meaning its sensitivity to changes in interest rates, was longer than that of the benchmark. We maintained an overweighting in bonds with relatively long maturity dates. This allocation proved detrimental, given that these holdings were hurt the most during the summer, after the Fed’s tapering announcement led to a steady rise in interest rates. Given our heightened relative exposure to longer bonds, the Fund was unable to keep pace with the index.
Credit quality positioning, especially a substantial overweighting in BBB-rated bonds, the lowest tier of the investment-grade universe, was a lesser but still meaningful detractor. As we have discussed in previous reports, we regularly overweight lower investment grade and, to a lesser extent, high yield bonds. This is because we have confidence in Nuveen’s research capabilities and our ability to uncover creditworthy issuers with bonds trading at attractive prices. As we mentioned, however, investors’ concerns about credit mounted during the reporting period. Accordingly, our overweighting in lower rated bonds and corresponding underweighting in AAA-rated and AA-rated securities proved unhelpful. As the market began to recover during the reporting period’s final two months, our increased allocation to lower rated debt, along with the portfolio’s duration positioning, were helpful factors which contributed positively to the Fund’s performance. Of final note, the Fund’s allocation to inverse floating rate securities (also known as inverse floaters) hampered results, given their volatile performance during the period.
Nuveen Inflation Protected Municipal Bond Fund
During the six-month reporting period ending October 31, 2013, the Nuveen Inflation Protected Municipal Bond Fund’s Class A shares at NAV underperformed both the Barclays 1–10 Year Municipal Bond Index and the Lipper Intermediate Municipal Debt Funds Classification Average.
The Fund’s performance is shaped by its two portfolio components, intermediate duration municipal bonds and inflation linked swaps, the latter of which are designed to hedge the Fund against changes in inflation expectations, which can influence municipal bond prices. During the six months, both of these components detracted from performance.
Looking first at the municipal bond portfolio, rising interest rates and credit related challenges provided an unfavorable market backdrop for the Fund. Shorter maturity, higher quality bonds were the best positioned in a difficult environment. The Fund, to its detriment, was relatively underweighted in both categories.
Duration positioning was a source of underperformance. The portfolio’s duration, or interest rate sensitivity, was slightly longer than that of the benchmark. Generally, the longer the bond, the worse it performed. We were overweighted in bonds at the longer end of our intermediate maturity investment universe and, accordingly, underweighted in shorter dated bonds. Both factors hampered the Fund’s results in relative terms.
6 | Nuveen Investments |
Credit quality positioning also detracted from performance. The Fund was overweight BBB-rated bonds, the lowest tier of the investment grade bond universe and, to a lesser extent, non-rated issues. Unfortunately, in an environment of heightened risk aversion on the part of investors, lower and non-rated credits lagged higher grade bonds.
In contrast, the Fund’s sector positioning and security selection were positive factors. In particular, we were underweighted in state general obligation bonds, which, given that sector’s underperformance, lifted results on a relative basis.
Also of note, we lacked meaningful exposure to the bonds of either Puerto Rico or Detroit, two significant sources of credit-related concern for investors during the six months. The Fund owned just one Puerto Rico bond issue, a pre-refunded holding that benefited from its high credit quality and short duration. With respect to the Detroit bankruptcy filing, our exposure was limited to secured water/sewer bonds that continued to meet their interest obligations despite the city’s financial troubles.
The inflation linked swaps we owned within the inflation protection side of the portfolio achieved the goal of hedging against fluctuations in inflation expectations and realized inflation. During the reporting period, however, this portion of the portfolio detracted meaningfully from relative performance; as inflation expectations decreased and realized inflation came in lower than expected, the Fund’s inflation linked swaps declined in value accordingly.
Nuveen Intermediate Duration Municipal Bond Fund
The Nuveen Intermediate Duration Municipal Bond Fund’s Class A Shares at NAV underperformed both the S&P Municipal Bond Intermediate Index and the Lipper Intermediate Municipal Debt Funds Classification Average during the six-month period ending October 31, 2013.
The Fund’s performance paralleled the municipal bond market’s downward trajectory during the reporting period. Compared with the S&P benchmark, credit quality positioning was the primary factor behind the Fund’s relative underperformance. The Fund was overweight A-rated bonds and, to a lesser extent, BBB-rated credits. As increasingly risk-averse investors became less interested in owning lower rated, higher yielding bonds, our heightened allocation to these types of securities provided a significant performance headwind.
On a duration basis, the impact on the Fund’s relative performance was muted. The portfolio’s duration, meaning its interest rate sensitivity, was similar to that of the index. We were overweighted in short-maturity bonds, whose prices did not fall to the same extent as longer dated intermediate bonds. The portfolio was also overweighted in this latter category, and owning more of these interest rate sensitive holdings offset any advantage we had gained from our allocation to better performing, short dated credits.
Nuveen Limited Term Municipal Bond Fund
For the six-month period ending October 31, 2013, the Nuveen Limited Term Municipal Bond Fund’s Class A Shares at NAV underperformed the S&P Municipal Bond Short-Intermediate Index but performed in line with the Lipper Short-Intermediate Municipal Debt Funds Classification Average.
Credit quality positioning was the Fund’s primary source of underperformance relative to the benchmark. Specifically, we held a relatively large allocation to A-rated and BBB-rated credits. Together, these made up about 38% of the portfolio at period end. Given that bonds with these credit ratings generally underperformed higher quality debt during the reporting period, our increased exposure hampered results.
Nuveen Investments | 7 |
Portfolio Managers’ Comments (continued)
As with the Nuveen Intermediate Duration Municipal Bond Fund, the Fund’s duration positioning had a mixed performance impact. Our duration was slightly shorter than that of the benchmark, a helpful factor, since shorter-dated bonds generally did better than longer maturities. However, the portfolio’s yield curve positioning was suboptimal. Specifically, with our “barbelled” approach, we balanced an overweighting in short dated bonds with securities at the longer end of our investment universe. While our allocation to shorter maturities was helpful, it was not enough to overcome our weighting in longer issues, which suffered the most amid rising interest rates.
Nuveen Short Term Municipal Bond Fund
For the six months ending October 31, 2013, the Nuveen Short Term Municipal Bond Fund’s Class A shares at NAV underperformed both the S&P Municipal Bond Short Index and the Barclays 3-Year Municipal Bond Index, but outperformed the Lipper Short Municipal Debt Funds Classification Average.
In absolute terms, the Fund performed reasonably well, generating a slightly better than flat return in a difficult performance environment for municipal bonds. The Fund’s focus on short term securities, the best-performing maturities in the municipal market, proved helpful, as short term interest rates remained comparatively steady while long term rates moved higher.
The Fund’s underperformance relative to the S&P index was driven primarily by its yield curve positioning, with its exposure to very short term (under six month) securities and a corresponding underweighting in bonds in the two-year to three-year range detracting from relative results. Very short term (under six month) securities’ prices were relatively flat and generated little income, curtailing their total returns. Meanwhile, yields on two-year to three-year bonds drifted slightly higher and, accordingly, their prices declined a bit. However, the income these securities generated more than offset the slight price declines they incurred, helping them outpace shorter term bonds.
However, our approach to duration management also benefitted the Fund’s performance in certain respects in that we kept overall duration relatively constant throughout the reporting period and close to the benchmark. Although we did hold securities longer than four years which generally underperformed, their negative contribution was fairly small.
Also contributing was the portfolio’s underweighting in Puerto Rico bonds. These securities, which are free from federal and state income taxes nationwide, came under severe pressure during the period in response to credit rating downgrades of the issuer, as well as several high-profile media accounts of the U.S. territory’s economic and fiscal challenges. Our more-limited exposure to this poor performing category proved helpful.
What strategies were used to manage the Funds during the six-month reporting period ended October 31, 2013?
All of the Funds continued to employ the same fundamental investment strategies and tactics long relied upon by Nuveen Asset Management. Our municipal bond portfolios are managed with a value-oriented approach and close input from Nuveen Asset Management’s experienced research team. Below, we highlight the specific factors influencing each Fund’s investment strategy, as well as how we managed each portfolio in light of recent market conditions.
Nuveen All-American Municipal Bond Fund
In managing the portfolio, our goal was to maintain a consistent strategy and avoid big changes to our duration and credit-quality positioning. We continued to believe in our long-term, value-oriented approach, especially amid difficult market conditions. We were convinced that staying consistent would allow us to take advantage of potentially better
8 | Nuveen Investments |
market conditions in the future. Indeed, as the municipal backdrop improved in September and October, we began to see a turnaround in the Fund’s results, and we believe the recovery would have been smaller had we been less patient about our investment discipline.
Throughout much of the period, the Fund experienced investment outflows, which required us to sell securities to satisfy redemptions. Accordingly, our management activity focused on identifying which securities could be liquidated while still keeping the portfolio’s structure generally intact. This led us to sell securities across a variety of sectors, maturity ranges and credit-quality segments.
Some of our sales were of Puerto Rico bonds. Even coming into the period, the Fund had relatively limited exposure to the issues of this credit-challenged U.S. territory. Amid significant volatility, we took advantage of temporary bounces in the prices of these securities to further reduce our weighting. At period end, just over 1% of the portfolio was invested in Puerto Rico credits, down from about 2.6% six months earlier. Meanwhile, regarding Detroit, the other major credit related story of the period, we held no Detroit general obligation debt, but did have a position in insured Detroit water and sewer bonds. Despite the city’s challenges, these bonds did not produce materially negative performance for the Fund.
In most cases, the proceeds we generated from selling securities went to meet shareholder redemptions. Occasionally, however, they provided the funds needed to buy new bonds enabling us to achieve our management objectives. Recent purchases included health care and charter school bonds at what we believed were relatively attractive prices in light of their manageable credit risks. Accordingly, the Fund’s health care and education sector weightings drifted upward during the period. We also saw opportunity among certain corporate-backed industrial development revenue bonds, which we believed could gain in value along with a strengthening economy. Meanwhile, the Fund’s allocation to tax-obligation issues declined, both because we took advantage of opportunities to sell amid high demand, and because we wanted to reduce exposure to a category that had already outperformed.
Nuveen Inflation Protected Municipal Bond Fund
As municipal bond market conditions began to deteriorate in mid-June, the Fund began experiencing investment outflows. While we periodically continued to take advantage of opportunities to add new bonds to the portfolio, our management focus during the period moved from buying bonds to selling them, as we needed to generate sufficient funds to satisfy shareholder redemptions.
Whenever we were buying and selling securities, we were conscientious about maintaining the Fund’s structure as best we could, since we continued to believe the Fund was well positioned for the long term. Overall, the Fund’s duration, meaning its interest rate sensitivity increased only slightly during the six-month reporting period, reflecting our sales of some shorter dated bonds, whose total return prospects we saw as more limited. From a credit quality perspective, our positioning was consistent overall, although there were some changes in the underlying rating categories, including a roughly 6% increase in AA-rated bond exposure and 5% increase in its allocation to below-investment-grade rated bonds.
As the Fund’s asset size decreased, we accordingly reduced the number of inflation linked swap positions in the portfolio, moves that enabled us to maintain a consistent level of inflation protection throughout the period. These inflation linked swaps continued to be classified as non-exchange cleared derivatives, a beneficial situation for the Fund, given that it enables us to use the Fund’s municipal bond positions as collateral for the securities.
Nuveen Investments | 9 |
Portfolio Managers’ Comments (continued)
Nuveen Intermediate Duration Municipal Bond Fund
Like many municipal bond mutual funds, the Fund experienced investment outflows during the reporting period. Accordingly, throughout most of the past six months, we were selling bonds more often than we were buying them. In our view, however, the challenging investment environment represented a bump in the road, rather than the start of a protracted downturn. Our long-term optimism shaped our management approach, in that we wanted to keep the portfolio’s basic structure relatively intact. In other words, when we wanted to sell bonds, we looked to do so without fundamentally changing the portfolio’s duration, credit or sector positioning. We were generally successful in accomplishing this goal, as our sector weightings and maturity exposures finished the reporting period quite similar to their starting points six months earlier. Our sales reflected the available demand in the marketplace, which meant that we often found it easiest to sell higher rated, shorter dated bonds.
During the reporting period, we reduced exposure to Puerto Rico bonds, which lost value as investors’ concerns rose about the issuer’s credit quality. In particular, we sold short dated Puerto Rico credits, which had outperformed the U.S. territory’s longer dated debt and which we believed offered more limited performance prospects.
Though outflows limited our buying opportunities, we did periodically take advantage of good values in the marketplace when we had funds available to invest. We modestly boosted exposure to the health care sector, where we found attractive bonds across a range of credit quality segments, and we also made purchases in the tax-backed and utility sectors.
Nuveen Limited Term Municipal Bond Fund
Unlike many of the other Funds profiled in this report, Nuveen Limited Term Municipal Bond Fund received net investment inflows during the period, a reflection of investors’ preference to own shorter-dated bonds. The combination of new assets available for investment, our existing cash allocation and regular bond redemptions provides us with the funds needed to make purchases across a variety of credit rating categories and sectors. Accordingly, we were able to very modestly extend the portfolio’s duration and take advantage of what we saw as good long term value for shareholders.
We kept the Fund’s structural characteristics relatively consistent throughout the period. In our new purchases, we sought to find bonds with an attractive risk/reward balance and that fit our existing positioning, which we believed would be well suited to market conditions over the long term. Buying activity, which took place across multiple sectors, modestly emphasized health care and tax-backed bonds. We also saw opportunities to add to airport and tobacco-securitization debt. We saw good value in this latter category, in which the Fund had been somewhat underweighted coming into the reporting period.
In making purchases, we often favored A-rated bonds, which more often struck us as attractively priced relative to their risk. Generally, our purchases had maturities ranging from five to ten years, a yield-curve segment that we believed offered better value than comparable shorter bonds, and which also enabled us to maintain the Fund’s duration.
Nuveen Short Term Municipal Bond Fund
Changes to the portfolio were relatively minor. As always, we remained appreciative of the Fund’s role as a low volatility investment for our shareholders, and we therefore sought to maintain an appropriate balance between the Fund’s total return potential and income.
10 | Nuveen Investments |
New investment inflows into the Fund, coupled with the proceeds of called and maturing bonds during the period, were invested in securities that we felt offered incremental yields at what we believed was a manageable level of credit risk. Allocations to different ratings categories were little changed, although the Fund’s allocation to AA-rated bonds increased modestly. At the same time, holdings in BBB-rated issues showed a slight decline. At period end, the Fund maintained an overweighting in A-rated and BBB-rated bonds, while remaining underweight in AAA-rated and AA-rated securities, the two highest credit-quality segments.
Throughout the period, the Fund remained well diversified among a significant number of issuers and individual securities. From a sector breakdown, the Fund was notably overweight in hospitals and higher education bonds compared to the index. That said, our 16% weighting in health care bonds declined modestly as some holdings in the sector, many of which were rated BBB, matured or were called. Throughout the reporting period, we remained underweight in pre-refunded and state general obligation (GO) bonds, as we believed their comparatively low yields made them less attractive compared to other opportunities in the marketplace.
An Update Regarding Detroit and Puerto Rico
During this reporting period, two credit situations weighed on the municipal market. It is important to note that, while these situations received much attention from the media, they represented isolated events. On July 18, 2013, the City of Detroit filed for Chapter 9 bankruptcy. Detroit, burdened by decades of population loss, declines in the auto manufacturing industry, and significant tax base deterioration, has been under severe financial stress for an extended period. Detroit’s bankruptcy filing will likely be a lengthy one, given the complexity of its debt portfolio, number of creditors, numerous union contracts, and significant legal questions that must be addressed.
Another factor affecting the Funds’ holdings was the downgrade of debt issued by Puerto Rico. In 2012, Moody’s downgraded Puerto Rico GO bonds to Baa3 from Baa1, Puerto Rico Sales Tax Financing Corporation (COFINA) senior sales tax revenue bonds to Aa3 from Aa2, and COFINA subordinate sales tax revenue bonds to A3 from A1. In October 2013, Moody’s further downgraded the COFINA senior sales tax bonds to A2, while affirming the subordinate bonds at A3. On November 14, 2013 (subsequent to the close of this reporting period), Fitch Ratings announced that it was placing the majority of Puerto Rico issuance—with the exception of the COFINA bonds—on negative credit watch, which implies that another downgrade may be likely. While Fitch currently rates Puerto Rico issuance at BBB-, it affirmed the ratings on COFINA bonds at AA- for the senior bonds and A+ for the subordinate bonds, with stable outlooks. On December 11, 2013 (subsequent to the close of this reporting period), Moody’s announced that it also had placed its Baa3 rating on Puerto Rico GOs (and other Puerto Rico issues linked to the GO rating) on review for downgrade. These downgrades were based on Puerto Rico’s ongoing economic problems and, in the case of the COFINA bonds, the impact of these problems on the projected growth of sales tax revenues. However, the COFINA bonds were able to maintain a higher credit rating than the GOs because, unlike the revenue streams supporting some Puerto Rican issues, the sales taxes supporting the COFINA bonds cannot be diverted and used to support Puerto Rico’s GO bonds. For the reporting period ended October 31, 2013, Puerto Rico paper underperformed the municipal market as a whole.
Nuveen Investments | 11 |
Nuveen All-American Municipal Bond Fund
Nuveen Intermediate Duration Municipal Bond Fund
Nuveen Limited Term Municipal Bond Fund
Nuveen Short Term Municipal Bond Fund
Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Funds, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Funds’ use of inverse floaters creates effective leverage. Leverage involves the risk that the Funds could lose more than their original investment and also increases the Funds’ exposure to volatility, interest rate risk and credit risk. Each Fund’s use of leverage creates the possibility of higher volatility for the Fund’s per share NAV, market price, distributions and returns. There is no assurance that a Fund’s leveraging strategy will be successful. Certain aspects of the recently adopted Volcker Rule may limit the availability of tender option bonds, which are used by the Funds for leveraging and duration management purposes. The effects of this new Rule, expected to take effect in mid-2015, may make it more difficult for a Fund to maintain current or desired levels of leverage and may cause the Fund to incur additional expenses to maintain its leverage.
Nuveen Inflation Protected Municipal Bond Fund
Mutual fund investing involves risk; principal loss is possible. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, non-diversification risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuer’s ability to make interest and principal payments when due. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. The Fund’s use of derivative instruments may involve a small amount of cash investment relative to the total notional principal amount of the transaction, the magnitude of losses from derivatives may be greater than the amount originally invested. There can be no assurance that the Fund’s inflation hedging strategy will be successful or perform as expected.
Dividend Information
Each Fund seeks to pay dividends at a rate that reflects the past and projected performance of the Fund. To permit a Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the Fund during the period. If the Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund’s NAV. Conversely, if the Fund has cumulatively paid in dividends more than it has earned, the excess will constitute negative UNII that will likewise be reflected in the Fund’s NAV. Each Fund will, over time, pay all its net investment income as dividends to shareholders. As of October 31, 2013, all the Funds in this report had positive UNII balances, based upon our best estimate, for tax purposes and positive UNII balances for financial reporting purposes.
12 | Nuveen Investments |
Fund Performance, Expense and Effective Leverage Ratios
The Fund Performance, Expense and Effective Leverage Ratios for each Fund are shown on the following five pages.
Returns quoted represent past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Returns without sales charges would be lower if the sales charge were included. Returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Income is generally exempt from regular federal income taxes. Some income may be subject to state and local income taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.
Returns may reflect a contractual agreement between certain Funds and the investment adviser to waive certain fees and expenses; see Notes to Financial Statements, Note 7 — Management Fees and Other Transactions with Affiliates for more information. In addition, returns may reflect a voluntary expense limitation by the Funds’ investment adviser that may be modified or discontinued at any time without notice. For the most recent month-end performance visit www.nuveen.com or call (800) 257-8787.
Returns reflect differences in sales charges and expenses, which are primarily differences in distribution and service fees. Fund returns assume reinvestment of dividends and capital gains.
Comparative index and Lipper return information is provided for the Funds’ Class A Shares at net asset value (NAV) only.
The expense ratios shown reflect the Funds’ total operating expenses (before fee waivers and/or expense reimbursements, if any) as shown in the Funds’ most recent prospectus. The expense ratios include management fees and other fees and expenses.
Leverage is created whenever a Fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital. The effective leverage ratio shown is the amount of investment exposure created either through borrowings or indirectly through inverse floaters, divided by the assets invested, including those assets that were purchased with the proceeds of the leverage, or referenced by the levered instrument.
Nuveen Investments | 13 |
Fund Performance, Expense and Effective Leverage Ratios (continued)
Nuveen All-American Municipal Bond Fund
Refer to the first page of this Fund Performance, Expense and Effective Leverage Ratios section for further explanation of the information included within this page.
Fund Performance
Average Annual Total Returns as of October 31, 2013
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (6.02)% | (3.73)% | 8.67% | 4.81% | ||||||||||||
Class A Shares at maximum Offering Price | (10.00)% | (7.75)% | 7.74% | 4.36% | ||||||||||||
S&P Municipal Bond Index* | (3.63)% | (1.69)% | 6.63% | 4.59% | ||||||||||||
Lipper General Municipal Debt Funds Classification Average* | (4.93)% | (3.13)% | 6.37% | 3.71% | ||||||||||||
Class B Shares w/o CDSC | (6.45)% | (4.52)% | 7.82% | 4.19% | ||||||||||||
Class B Shares w/CDSC | (11.05)% | (8.22)% | 7.68% | 4.19% | ||||||||||||
Class C Shares | (6.30)% | (4.36)% | 8.06% | 4.23% | ||||||||||||
Class I Shares | (5.91)% | (3.53)% | 8.85% | 5.00% |
Average Annual Total Returns as of September 30, 2013 (Most Recent Calendar Quarter)
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (5.67)% | (4.10)% | 7.22% | 4.68% | ||||||||||||
Class A Shares at maximum Offering Price | (9.63)% | (8.11)% | 6.29% | 4.23% | ||||||||||||
Class B Shares w/o CDSC | (6.02)% | (4.80)% | 6.43% | 4.06% | ||||||||||||
Class B Shares w/CDSC | (10.64)% | (8.48)% | 6.27% | 4.06% | ||||||||||||
Class C Shares | (5.86)% | (4.55)% | 6.65% | 4.12% | ||||||||||||
Class I Shares | (5.56)% | (3.90)% | 7.41% | 4.88% |
Class A Shares have a maximum 4.20% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class B Shares have a CDSC that begins at 5% for redemptions during the first year and declines periodically until after six years when the charge becomes 0%. Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
Expense Ratios as of Most Recent Prospectus
Expense | ||||
Class A Shares | 0.72% | |||
Class B Shares | 1.47% | |||
Class C Shares | 1.27% | |||
Class I Shares | 0.52% |
Effective Leverage Ratio as of October 31, 2013
Effective Leverage Ratio | 6.65% |
* | Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment. |
14 | Nuveen Investments |
Nuveen Inflation Protected Municipal Bond Fund
Refer to the first page of this Fund Performance, Expense and Effective Leverage Ratios section for further explanation of the information included within this page.
Fund Performance
Average Annual Total Returns as of October 31, 2013
Cumulative | Average Annual | |||||||||||
6-Month | 1-Year | Since | ||||||||||
Class A Shares at NAV | (5.77)% | (4.98)% | 4.76% | |||||||||
Class A Shares at maximum Offering Price | (8.60)% | (7.83)% | 3.57% | |||||||||
Barclays 1-10 Year Municipal Bond Index** | (1.13)% | 0.18% | 3.88% | |||||||||
Lipper Intermediate Municipal Debt Funds Classification Average** | (2.79)% | (1.37)% | 4.09% | |||||||||
Class C Shares | (5.97)% | (5.45)% | 4.21% | |||||||||
Class I Shares | (5.68)% | (4.82)% | 4.97% |
Average Annual Total Returns as of September 30, 2013 (Most Recent Calendar Quarter)
Cumulative | Average Annual | |||||||||||
6-Month | 1-Year | Since | ||||||||||
Class A Shares at NAV | (6.14)% | (4.56)% | 4.69% | |||||||||
Class A Shares at maximum Offering Price | (8.96)% | (7.42)% | 3.46% | |||||||||
Class C Shares | (6.34)% | (5.03)% | 4.14% | |||||||||
Class I Shares | (6.05)% | (4.31)% | 4.90% |
Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
Expense Ratios as of Most Recent Prospectus
Gross | Net | |||||||
Class A Shares | 1.01% | 0.77% | ||||||
Class C Shares | 1.57% | 1.32% | ||||||
Class I Shares | 0.82% | 0.57% |
The Fund’s investment adviser has agreed to waive fees and/or reimburse expenses through August 31, 2014 so that total annual Fund operating expenses (excluding 12b-1 distribution and service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) do not exceed 0.60% (1.05% after August 31, 2014) of the average daily net assets of any class of Fund shares. The expense limitation expiring August 31, 2014 may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund. The expense limitation in effect thereafter may be terminated or modified only with the approval of shareholders of the Fund.
Effective Leverage Ratio as of October 31, 2013
Effective Leverage Ratio | 0% |
* | Since inception returns are from 3/08/11. |
** | Refer to the Glossary of Terms Used in the Report for definitions. Indexes and Lipper averages are not available for direct investment. |
Nuveen Investments | 15 |
Fund Performance, Expense and Effective Leverage Ratios (continued)
Nuveen Intermediate Duration Municipal Bond Fund
Refer to the first page of this Fund Performance, Expense and Effective Leverage Ratios section for further explanation of the information included within this page.
Fund Performance
Average Annual Total Returns as of October 31, 2013
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (2.89)% | (1.20)% | 5.49% | 3.91% | ||||||||||||
Class A Shares at maximum Offering Price | (5.80)% | (4.17)% | 4.86% | 3.59% | ||||||||||||
S&P Municipal Bond Intermediate Index* | (2.03)% | (0.23)% | 6.34% | 4.72% | ||||||||||||
Lipper Intermediate Municipal Debt Funds Classification Average* | (2.79)% | (1.37)% | 5.19% | 3.51% | ||||||||||||
Class B Shares w/o CDSC | (3.34)% | (1.90)% | 4.68% | 3.28% | ||||||||||||
Class B Shares w/CDSC | (8.12)% | (5.73)% | 4.51% | 3.28% | ||||||||||||
Class C Shares | (3.25)% | (1.71)% | 4.92% | 3.33% | ||||||||||||
Class I Shares | (2.89)% | (1.01)% | 5.70% | 4.11% |
Average Annual Total Returns as of September 30, 2013 (Most Recent Calendar Quarter)
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (2.69)% | (1.62)% | 4.96% | 3.81% | ||||||||||||
Class A Shares at maximum Offering Price | (5.63)% | (4.57)% | 4.32% | 3.50% | ||||||||||||
Class B Shares w/o CDSC | (3.14)% | (2.42)% | 4.18% | 3.19% | ||||||||||||
Class B Shares w/CDSC | (7.93)% | (6.23)% | 4.01% | 3.19% | ||||||||||||
Class C Shares | (2.94)% | (2.12)% | 4.39% | 3.24% | ||||||||||||
Class I Shares | (2.59)% | (1.42)% | 5.17% | 4.01% |
Class A Shares have a maximum 3.00% sales charge (Offering Price). Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class B Shares have a CDSC that begins at 5% for redemptions during the first year and declines periodically until after six years when the charge becomes 0%. Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
Expense Ratios as of Most Recent Prospectus
Expense | ||||
Class A Shares | 0.70% | |||
Class B Shares | 1.46% | |||
Class C Shares | 1.25% | |||
Class I Shares | 0.50% |
Effective Leverage Ratio as of October 31, 2013
Effective Leverage Ratio | 2.17% |
* | Refer to the Glossary of Terms Used in the Report for definitions. Indexes and Lipper averages are not available for direct investment. |
16 | Nuveen Investments |
Nuveen Limited Term Municipal Bond Fund
Refer to the first page of this Fund Performance, Expense and Effective Leverage Ratios section for further explanation of the information included within this page.
Fund Performance
Average Annual Total Returns as of October 31, 2013
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (1.04)% | 0.04% | 4.17% | 3.22% | ||||||||||||
Class A Shares at maximum Offering Price | (3.52)% | (2.47)% | 3.65% | 2.96% | ||||||||||||
S&P Municipal Bond Short-Intermediate Index* | (0.27)% | 0.81% | 4.37% | 3.72% | ||||||||||||
Lipper Short-Intermediate Municipal Debt Funds Classification Average* | (1.04)% | (0.28)% | 3.70% | 2.90% | ||||||||||||
Class C Shares | (1.23)% | (0.25)% | 3.80% | 2.86% | ||||||||||||
Class I Shares | (0.88)% | 0.29% | 4.38% | 3.43% |
Average Annual Total Returns as of September 30, 2013 (Most Recent Calendar Quarter)
Cumulative | Average Annual | |||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||
Class A Shares at NAV | (1.13)% | (0.47)% | 3.88% | 3.13% | ||||||||||||
Class A Shares at maximum Offering Price | (3.62)% | (2.96)% | 3.35% | 2.87% | ||||||||||||
Class C Shares | (1.32)% | (0.84)% | 3.52% | 2.77% | ||||||||||||
Class I Shares | (1.15)% | (0.31)% | 4.08% | 3.34% |
Class A Shares have a maximum 2.50% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
Expense Ratios as of Most Recent Prospectus
Expense | ||||
Class A Shares | 0.66% | |||
Class C Shares | 1.01% | |||
Class I Shares | 0.46% | |||
Effective Leverage Ratio as of October 31, 2013 | ||||
Effective Leverage Ratio | 0% |
* | Refer to the Glossary of Terms Used in the Report for definitions. Indexes and Lipper averages are not available for direct investment. |
Nuveen Investments | 17 |
Fund Performance, Expense and Effective Leverage Ratios (continued)
Nuveen Short Term Municipal Bond Fund
Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information included within this page.
Fund Performance
Average Annual Total Returns as of October 31, 2013
Cumulative | Average Annual | |||||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||||
Class A Shares at NAV | 0.13% | 0.93% | 3.14% | 2.43% | ||||||||||||||
Class A Shares at maximum Offering Price | (2.36)% | (1.58)% | 2.60% | 2.17% | ||||||||||||||
S&P Municipal Bond Short Index** | 0.38% | 1.00% | 2.70% | 2.79% | ||||||||||||||
Barclays 3-Year Municipal Bond Index** | 0.44% | 1.18% | 3.32% | 3.05% | ||||||||||||||
Lipper Short Municipal Debt Funds Classification Average** | (0.27)% | 0.17% | 2.13% | 1.99% | ||||||||||||||
Class I Shares | 0.22% | 1.11% | 3.28% | 2.59% | ||||||||||||||
6-month | 1-Year | Since | ||||||||||||||||
Class C Shares | (0.05)% | 0.47% |
| 1.38% |
|
Average Annual Total Returns as of September 30, 2013 (Most Recent Calendar Quarter)
Cumulative | Average Annual | |||||||||||||||||
6-Month | 1-Year | 5-Year | 10-Year | |||||||||||||||
Class A Shares at NAV | (0.15)% | 0.68% | 3.06% | 2.36% | ||||||||||||||
Class A Shares at maximum Offering Price | (2.63)% | (1.82)% | 2.53% | 2.10% | ||||||||||||||
Class I Shares | (0.06)% | 0.86% | 3.23% | 2.52% | ||||||||||||||
6-month | 1-Year | Since | ||||||||||||||||
Class C Shares | (0.23)% | 0.33% | 1.30% |
Class A Shares have a maximum 2.50% sales charge (Offering Price). Class A Share purchases of $250,000 or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC), also known as a back-end sales charge, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
Expense Ratios as of Most Recent Prospectus
Expense | ||||
Class A Shares | 0.73% | |||
Class C Shares | 1.08% | |||
Class I Shares | 0.53% |
Effective Leverage Ratio as of October 31, 2013
Effective Leverage Ratio | 0% |
* | Since inception returns for C Shares are from 8/31/11. |
** | Refer to the Glossary of Terms Used in this Report for definitions. Indexes and Lipper averages are not available for direct investment. |
18 | Nuveen Investments |
Dividend Yield is the most recent dividend per share (annualized) divided by the offering price per share.
The SEC 30-Day Yield is a standardized measure of a Fund’s yield that accounts for the future amortization of premiums or discounts of bonds held in the Fund’s portfolio. The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. Dividend Yield may differ from the SEC 30-Day Yield because the Fund may be paying out more or less than it is earning and it may not include the effect of amortization of bond premium.
The Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis at a specified tax rate. With respect to investments that generate qualified dividend income that is taxable at a maximum rate of 15%, the Taxable-Equivalent Yield is lower.
Nuveen All-American Municipal Bond Fund
Dividend | SEC 30-Day | Taxable- | ||||||||||
Class A Shares2 | 3.93% | 3.75% | 5.21% | |||||||||
Class B Shares | 3.32% | 3.17% | 4.40% | |||||||||
Class C Shares | 3.49% | 3.37% | 4.68% | |||||||||
Class I Shares | 4.25% | 4.12% | 5.72% |
Nuveen Inflation Protected Municipal Bond Fund
Dividend | SEC 30-Day | Taxable- | ||||||||||
Class A Shares2 | 2.15% | 2.82% | 3.92% | |||||||||
Class C Shares | 1.65% | 2.36% | 3.28% | |||||||||
Class I Shares | 2.39% | 3.11% | 4.32% |
Nuveen Intermediate Duration Municipal Bond Fund
Dividend | SEC 30-Day | Taxable- | ||||||||||
Class A Shares2 | 2.98% | 2.10% | 2.92% | |||||||||
Class B Shares | 2.34% | 1.42% | 1.97% | |||||||||
Class C Shares | 2.54% | 1.62% | 2.25% | |||||||||
Class I Shares | 3.27% | 2.36% | 3.28% |
1 | TheTaxable-Equivalent Yield is based on the Fund’s SEC 30-Day Yield on the indicated date and a federal income tax rate of 28.0%. |
2 | The SEC Yield for Class A shares quoted in the table reflects the maximum sales load. Investors paying a reduced load because of volume discounts, investors paying no load because they qualify for one of the several exclusions from the load, and existing shareholders who previously paid a load but would like to know the SEC Yield applicable to their shares on a going-forward basis, should understand that the SEC Yield effectively applicable to them would be higher than the figure quoted in the table. |
Nuveen Investments | 19 |
Yields October 31, 2013 (continued)
Nuveen Limited Term Municipal Bond Fund
Dividend | SEC 30-Day | Taxable- | ||||||||||
Class A Shares2 | 1.80% | 1.15% | 1.60% | |||||||||
Class C Shares | 1.47% | 0.84% | 1.17% | |||||||||
Class I Shares | 2.02% | 1.38% | 1.92% |
Nuveen Short Term Municipal Bond Fund
Dividend | SEC 30-Day | Taxable- | ||||||||||
Class A Shares2 | 1.21% | 0.60% | 0.83% | |||||||||
Class C Shares | 0.89% | 0.27% | 0.38% | |||||||||
Class I Shares | 1.42% | 0.81% | 1.13% |
1 | TheTaxable-Equivalent Yield is based on the Fund’s SEC 30-Day Yield on the indicated date and a federal income tax rate of 28.0%. |
2 | The SEC Yield for Class A shares quoted in the table reflects the maximum sales load. Investors paying a reduced load because of volume discounts, investors paying no load because they qualify for one of the several exclusions from the load, and existing shareholders who previously paid a load but would like to know the SEC Yield applicable to their shares on a going-forward basis, should understand that the SEC Yield effectively applicable to them would be higher than the figure quoted in the table. |
20 | Nuveen Investments |
Holding Summaries October 31, 2013
This data relates to the securities held in each Fund’s portfolio of investments. It should not be construed as a measure of performance for the Fund itself.
Ratings shown are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
Nuveen All-American Municipal Bond Fund
Bond Credit Quality1,2,3
AAA/U.S. Guaranteed | 7.8% | |||
AA | 26.5% | |||
A | 29.3% | |||
BBB | 20.6% | |||
BB or Lower | 5.4% | |||
N/R | 8.1% |
Portfolio Composition1,4
Health Care | 19.8% | |||
Tax Obligation/Limited | 17.6% | |||
Transportation | 12.4% | |||
Education and Civic Organizations | 11.8% | |||
Utilities | 8.5% | |||
Tax Obligation/General | 8.0% | |||
Long-Term Care | 5.2% | |||
Water and Sewer | 4.9% | |||
Other | 11.8% |
States/U.S. Territories1,4
California | 11.2% | |||
Texas | 9.8% | |||
Illinois | 9.3% | |||
Florida | 8.7% | |||
Colorado | 4.4% | |||
Pennsylvania | 4.4% | |||
Wisconsin | 3.7% | |||
Indiana | 3.6% | |||
New York | 3.5% | |||
Ohio | 3.4% | |||
Arizona | 3.3% | |||
Washington | 2.7% | |||
Georgia | 2.6% | |||
Michigan | 2.6% | |||
Louisiana | 2.6% | |||
New Jersey | 2.5% | |||
Massachusetts | 1.7% | |||
Other | 20.0% |
1 | Holdings are subject to change. |
2 | Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table. |
3 | As a percentage of total investment exposure. Refer to the Glossary of Terms Used in this Report for further information. |
4 | As a percentage of total investments. |
Nuveen Investments | 21 |
Holding Summaries October 31, 2013 (continued)
Nuveen Inflation Protected Municipal Bond Fund
Bond Credit Quality1,2,3
AAA/U.S. Guaranteed | 2.7% | |||
AA | 28.0% | |||
A | 34.6% | |||
BBB | 23.3% | |||
BB or Lower | 7.7% | |||
N/R | 6.8% |
Portfolio Composition1,4
Tax Obligation/Limited | 25.4% | |||
Transportation | 14.1% | |||
Education and Civic Organizations | 13.9% | |||
Tax Obligation/General | 12.7% | |||
Utilities | 10.8% | |||
Health Care | 10.6% | |||
Water and Sewer | 6.0% | |||
Other | 6.5% |
States/U.S. Territories1,4
Illinois | 7.6% | |||
Florida | 7.6% | |||
Colorado | 7.5% | |||
Ohio | 6.8% | |||
California | 6.7% | |||
Pennsylvania | 6.1% | |||
Texas | 6.1% | |||
Michigan | 5.4% | |||
Louisiana | 3.7% | |||
Indiana | 3.6% | |||
Arizona | 3.5% | |||
New York | 3.4% | |||
New Jersey | 3.3% | |||
Kansas | 3.1% | |||
North Carolina | 2.7% | |||
Washington | 2.3% | |||
Iowa | 2.3% | |||
Other | 18.3% |
1 | Holdings are subject to change. |
2 | Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table. |
3 | As a percentage of total investment exposure. Refer to the Glossary of Terms Used in this Report for further information. |
4 | As a percentage of total investments (excluding investments in derivatives). |
22 | Nuveen Investments |
Nuveen Intermediate Duration Municipal Bond Fund
Bond Credit Quality1,2,3
AAA/U.S. Guaranteed | 13.1% | |||
AA | 33.6% | |||
A | 34.6% | |||
BBB | 11.9% | |||
BB or Lower | 3.3% | |||
N/R | 2.1% |
Portfolio Composition1,4
Tax Obligation/Limited | 27.9% | |||
Tax Obligation/General | 21.6% | |||
Health Care | 15.8% | |||
Utilities | 8.9% | |||
Transportation | 6.6% | |||
U.S. Guaranteed | 5.9% | |||
Other | 13.3% |
States/U.S. Territories1,4
Illinois | 9.2% | |||
Texas | 8.8% | |||
California | 7.5% | |||
New Jersey | 6.4% | |||
Florida | 6.3% | |||
New York | 5.8% | |||
Michigan | 5.2% | |||
Arizona | 4.2% | |||
Pennsylvania | 3.7% | |||
Colorado | 3.5% | |||
Ohio | 3.1% | |||
Massachusetts | 2.8% | |||
Wisconsin | 2.8% | |||
Louisiana | 2.5% | |||
Tennessee | 2.2% | |||
Nevada | 2.1% | |||
Washington | 2.0% | |||
Missouri | 2.0% | |||
Other | 19.9% |
1 | Holdings are subject to change. |
2 | Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table. |
3 | As a percentage of total investment exposure. Refer to the Glossary of Terms Used in this Report for further information. |
4 | As a percentage of total investments. |
Nuveen Investments | 23 |
Holding Summaries October 31, 2013 (continued)
Nuveen Limited Term Municipal Bond Fund
Bond Credit Quality1,2,3
AAA/U.S. Guaranteed | 19.9% | |||
AA | 38.8% | |||
A | 28.7% | |||
BBB | 8.6% | |||
BB or Lower | 2.2% | |||
N/R | 1.1% |
Portfolio Composition1,4
Tax Obligation/Limited | 26.8% | |||
Tax Obligation/General | 22.6% | |||
Utilities | 11.1% | |||
Health Care | 10.1% | |||
Education and Civic Organizations | 6.6% | |||
Transportation | 6.2% | |||
U.S. Guaranteed | 5.4% | |||
Other | 11.2% |
States/U.S. Territories1,4
New York | 10.0% | |||
Illinois | 9.0% | |||
Pennsylvania | 6.6% | |||
New Jersey | 6.3% | |||
Texas | 5.6% | |||
Florida | 5.2% | |||
California | 5.0% | |||
Michigan | 4.3% | |||
Ohio | 4.1% | |||
Arizona | 3.8% | |||
Georgia | 3.6% | |||
Washington | 3.2% | |||
Indiana | 2.7% | |||
Louisiana | 2.5% | |||
Massachusetts | 2.4% | |||
Missouri | 1.9% | |||
Colorado | 1.9% | |||
Maryland | 1.7% | |||
Wisconsin | 1.6% | |||
Other | 18.6% |
1 | Holdings are subject to change. |
2 | Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table. |
3 | As a percentage of total investment exposure. Refer to the Glossary of Terms Used in this Report for further information. |
4 | As a percentage of total investments. |
24 | Nuveen Investments |
Nuveen Short Term Municipal Bond Fund
Bond Credit Quality1,2,3
AAA/U.S. Guaranteed | 5.9% | |||
AA | 26.8% | |||
A | 39.8% | |||
BBB | 22.7% | |||
BB or Lower | 0.2% | |||
N/R | 4.7% |
Portfolio Composition1,4
Tax Obligation/Limited | 20.4% | |||
Education and Civic Organizations | 17.3% | |||
Health Care | 16.0% | |||
Tax Obligation/General | 14.2% | |||
Transportation | 11.1% | |||
Utilities | 7.7% | |||
Other | 13.3% |
States/U.S. Territories1,4
California | 8.9% | |||
Illinois | 8.0% | |||
Florida | 6.7% | |||
Arizona | 5.8% | |||
Missouri | 5.5% | |||
Pennsylvania | 5.1% | |||
Minnesota | 4.9% | |||
New York | 4.6% | |||
New Jersey | 4.1% | |||
Colorado | 3.8% | |||
Ohio | 3.6% | |||
Michigan | 3.1% | |||
Texas | 3.1% | |||
Virginia | 2.9% | |||
Indiana | 2.4% | |||
Georgia | 2.4% | |||
Iowa | 2.3% | |||
Oregon | 1.7% | |||
North Dakota | 1.5% | |||
Other | 19.6% |
1 | Holdings are subject to change. |
2 | As a percentage of total investment exposure, which excludes the Fund’s investment in money market funds. Refer to the Glossary of Terms Used in this Report for further information. |
3 | Percentages may not add to 100% due to the exclusion of other assets less liabilities from the table. |
4 | As a percentage of total municipal bonds. |
Nuveen Investments | 25 |
As a shareholder of one or more of the Funds, you incur two types of costs: (1) transaction costs, including up-front and back-end sales charges (loads) or redemption fees, where applicable; and (2) ongoing costs, including management fees; distribution and service (12b-1) fees, where applicable; and other Fund expenses. The Examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The Examples below are based on an investment of $1,000 invested at the beginning of the period and held through the end of the period.
The information under “Actual Performance,” together with the amount you invested, allows you to estimate actual expenses incurred over the reporting period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.60) and multiply the result by the cost shown for your share class, in the row entitled “Expenses Incurred During Period” to estimate the expenses incurred on your account during this period.
The information under “Hypothetical Performance,” provides information about hypothetical account values and hypothetical expenses based on the respective Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expense you incurred for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the hypothetical information is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds or share classes. In addition, if these transaction costs were included, your costs would have been higher.
Nuveen All-American Municipal Bond Fund
Actual Performance | Hypothetical Performance (5% annualized return before expenses) | |||||||||||||||||||||||||||||||
A Shares | B Shares | C Shares | I Shares | A Shares | B Shares | C Shares | I Shares | |||||||||||||||||||||||||
Beginning Account Value (5/01/13) | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||||||
Ending Account Value (10/31/13) | $ | 939.80 | $ | 935.50 | $ | 937.00 | $ | 940.90 | $ | 1,021.53 | $ | 1,017.74 | $ | 1,018.75 | $ | 1,022.53 | ||||||||||||||||
Expenses Incurred During Period | $ | 3.57 | $ | 7.22 | $ | 6.25 | $ | 2.59 | $ | 3.72 | $ | 7.53 | $ | 6.51 | $ | 2.70 |
For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .73%, 1.48%, 1.28% and .53% for Classes A, B, C and I, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
26 | Nuveen Investments |
Nuveen Inflation Protected Municipal Bond Fund
Actual Performance | Hypothetical Performance (5% annualized return before expenses) | |||||||||||||||||||||||
A Shares | C Shares | I Shares | A Shares | C Shares | I Shares | |||||||||||||||||||
Beginning Account Value (5/01/13) | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||
Ending Account Value (10/31/13) | $ | 942.30 | $ | 940.30 | $ | 943.20 | $ | 1,021.32 | $ | 1,018.55 | $ | 1,022.33 | ||||||||||||
Expenses Incurred During Period | $ | 3.77 | $ | 6.46 | $ | 2.79 | $ | 3.92 | $ | 6.72 | $ | 2.91 |
For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .77%, 1.32% and .57% for Classes A, C and I, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
Nuveen Intermediate Duration Municipal Bond Fund
Actual Performance | Hypothetical Performance (5% annualized return before expenses) | |||||||||||||||||||||||||||||||
A Shares | B Shares | C Shares | I Shares | A Shares | B Shares | C Shares | I Shares | |||||||||||||||||||||||||
Beginning Account Value (5/01/13) | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||||||
Ending Account Value (10/31/13) | $ | 971.10 | $ | 966.60 | $ | 967.50 | $ | 971.10 | $ | 1,021.63 | $ | 1,017.85 | $ | 1,018.85 | $ | 1,022.63 | ||||||||||||||||
Expenses Incurred During Period | $ | 3.53 | $ | 7.24 | $ | 6.25 | $ | 2.53 | $ | 3.62 | $ | 7.43 | $ | 6.41 | $ | 2.60 |
For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .71%, 1.46%, 1.26% and .51% for Classes A, B, C and I, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
Nuveen Limited Term Municipal Bond Fund
Actual Performance | Hypothetical Performance (5% annualized return before expenses) | |||||||||||||||||||||||
A Shares | C Shares | I Shares | A Shares | C Shares | I Shares | |||||||||||||||||||
Beginning Account Value (5/01/13) | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||
Ending Account Value (10/31/13) | $ | 989.60 | $ | 987.70 | $ | 991.20 | $ | 1,021.93 | $ | 1,020.16 | $ | 1,022.94 | ||||||||||||
Expenses Incurred During Period | $ | 3.26 | $ | 5.01 | $ | 2.26 | $ | 3.31 | $ | 5.09 | $ | 2.29 |
For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .65%, 1.00% and .45% for Classes A, C and I, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
Nuveen Short Term Municipal Bond Fund
Actual Performance | Hypothetical Performance (5% annualized return before expenses) | |||||||||||||||||||||||
A Shares | C Shares | I Shares | A Shares | C Shares | I Shares | |||||||||||||||||||
Beginning Account Value (5/01/13) | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | $ | 1,000.00 | ||||||||||||
Ending Account Value (10/31/13) | $ | 1,001.30 | $ | 999.50 | $ | 1,002.20 | $ | 1,021.63 | $ | 1,019.86 | $ | 1,022.63 | ||||||||||||
Expenses Incurred During Period | $ | 3.58 | $ | 5.34 | $ | 2.57 | $ | 3.62 | $ | 5.40 | $ | 2.60 |
For each class of the Fund, expenses are equal to the Fund’s annualized net expense ratio of .71%, 1.06% and .51% for Classes A, C and I, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
Nuveen Investments | 27 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 98.4% | ||||||||||||||||||
MUNICIPAL BONDS – 98.4% | ||||||||||||||||||
Alabama – 0.9% | ||||||||||||||||||
$ | 6,165 | Birmingham Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist Health System Inc., Series 2005A, 5.000%, 11/15/30 | 11/15 at 100.00 | Baa2 | $ | 5,803,978 | ||||||||||||
350 | Camden Industrial Development Board, Alabama, Exempt Facilities Revenue Bonds, Weyerhaeuser Company Project, Series 2003B, 6.375%, 12/01/24 (Pre-refunded 12/01/13) (Alternative Minimum Tax) | 12/13 at 100.00 | AA+ (4) | 351,789 | ||||||||||||||
2,750 | Courtland Industrial Development Board, Alabama, Solid Waste Revenue Bonds, International Paper Company Project, Series 2005A, 5.200%, 6/01/25 (Alternative Minimum Tax) | 6/15 at 100.00 | BBB | 2,760,643 | ||||||||||||||
Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds, Series 2004A: | ||||||||||||||||||
1,000 | 5.250%, 1/01/14 | No Opt. Call | B | 1,000,000 | ||||||||||||||
5,165 | 5.250%, 1/01/15 | 1/14 at 100.00 | B | 5,153,947 | ||||||||||||||
1,000 | 5.500%, 1/01/21 – AGM Insured | 1/14 at 100.00 | AA– | 999,860 | ||||||||||||||
1,000 | 5.500%, 1/01/22 | 1/14 at 100.00 | B | 998,230 | ||||||||||||||
2,000 | Pell City, Alabama, Special Care Facilities Financing Authority, Revenue Bonds, Noland Health Services, Series 2007A, 5.250%, 12/01/34 (Pre-refunded 12/01/17) | 12/17 at 100.00 | Aaa | 2,351,080 | ||||||||||||||
19,430 | Total Alabama | 19,419,527 | ||||||||||||||||
Alaska – 0.3% | ||||||||||||||||||
5,000 | Alaska State, International Airport System Revenue Bonds, Refunding Series 2010A, 5.000%, 10/01/27 (Alternative Minimum Tax) | 10/20 at 100.00 | A1 | 5,221,000 | ||||||||||||||
2,000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32 | 6/14 at 100.00 | B2 | 1,527,620 | ||||||||||||||
7,000 | Total Alaska | 6,748,620 | ||||||||||||||||
Arizona – 3.2% | ||||||||||||||||||
140 | Arizona Board of Regents, Certificates of Participation, Northern Arizona University Research Projects, Series 2005, 5.000%, 9/01/23 (Pre-refunded 9/01/15) – AMBAC Insured | 9/15 at 100.00 | A (4) | 151,907 | ||||||||||||||
6,500 | Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A, 5.000%, 2/01/30 | 2/22 at 100.00 | BBB+ | 6,354,530 | ||||||||||||||
500 | Arizona School Facilities Board, Certificates of Participation, Series 2008, 5.250%, 9/01/23 | 9/18 at 100.00 | A+ | 549,455 | ||||||||||||||
200 | Arizona State University Nanotechnology LLC, Lease Revenue Refunding Bonds, Arizona State University Project, Series 2009A, 5.000%, 3/01/34 – AGC Insured | 3/19 at 100.00 | AA– | 205,924 | ||||||||||||||
250 | Cottonwood, Arizona, Water Revenue Bonds, Series 2006, 5.000%, 7/01/17 – SYNCORA GTY Insured | 7/16 at 100.00 | BBB+ | 270,975 | ||||||||||||||
6,630 | Gila County Unified School District 10 Payson, Arizona, General Obligation Bonds, Project of 2006, Series 2007A, 5.250%, 7/01/22 – AMBAC Insured | 7/17 at 100.00 | Aa3 | 7,429,445 | ||||||||||||||
500 | Gilbert, Arizona, Public Facilities Municipal Property Corporation, Revenue Bonds, Series 2009, 5.500%, 7/01/27 | 7/19 at 100.00 | AA | 544,535 | ||||||||||||||
3,430 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health Network, Series 2007, 5.000%, 12/01/42 | 12/17 at 100.00 | BBB+ | 3,340,100 | ||||||||||||||
595 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2007, 5.000%, 5/15/31 | 5/22 at 100.00 | A– | 609,107 | ||||||||||||||
750 | Greater Arizona Development Authority, Infrastructure Revenue Bonds, Series 2004B, 5.250%, 8/01/26 | 8/14 at 100.00 | A1 | 770,865 | ||||||||||||||
750 | Greater Arizona Development Authority, Infrastructure Revenue Bonds, Series 2006-1, 4.500%, 8/01/25 – NPFG Insured | 8/16 at 100.00 | AA– | 780,503 | ||||||||||||||
500 | Maricopa County Industrial Development Authority, Arizona, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2004A, 5.375%, 7/01/23 | 7/14 at 100.00 | A | 515,035 | ||||||||||||||
245 | Maricopa County, Arizona, Hospital Revenue Bonds, Sun Health Corporation, Series 2005, 5.000%, 4/01/25 (Pre-refunded 4/01/24) | 4/24 at 100.00 | N/R (4) | 287,953 | ||||||||||||||
310 | Peoria Municipal Development Authority, Arizona, Revenue Bonds, Series 2006, 5.000%, 7/01/15 | No Opt. Call | AA+ | 333,204 | ||||||||||||||
465 | Peoria, Arizona, Improvement District 601, Improvement Bonds, Series 2007, 4.250%, 1/01/22 | 1/18 at 101.00 | AA | 498,796 |
28 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Arizona (continued) | ||||||||||||||||||
$ | 4,000 | Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A, 5.000%, 7/01/31 | 7/20 at 100.00 | A+ | $ | 4,123,160 | ||||||||||||
1,000 | Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Choice Academies Charter Schools Project, Series 2012, 4.875%, 9/01/22 | No Opt. Call | BB+ | 961,050 | ||||||||||||||
1,000 | Phoenix Industrial Development Authority, Arizona, Education Revenue Bonds, Great Hearts Academies – Veritas Project, Series 2012, 6.400%, 7/01/47 | 7/21 at 100.00 | BB | 955,870 | ||||||||||||||
Phoenix, Arizona, Civic Improvement Revenue Bonds, Civic Plaza, Series 2005B: | ||||||||||||||||||
1,650 | 5.500%, 7/01/31 – FGIC Insured | No Opt. Call | AA | 1,847,357 | ||||||||||||||
6,000 | 5.500%, 7/01/39 – FGIC Insured | No Opt. Call | AA | 6,485,340 | �� | |||||||||||||
Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013: | ||||||||||||||||||
2,115 | 6.000%, 7/01/33 | 7/20 at 102.00 | BB+ | 2,002,292 | ||||||||||||||
2,000 | 6.000%, 7/01/43 | 7/20 at 102.00 | BB+ | 1,807,940 | ||||||||||||||
825 | Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Education Center Project, Series 2010, 6.000%, 6/01/40 | 6/19 at 100.00 | BBB– | 790,144 | ||||||||||||||
730 | Pima County Unified School District 1, Tucson, Arizona, School Improvement Bonds, Series 2007C, 5.000%, 7/01/27 – FGIC Insured | 7/17 at 100.00 | Aa2 | 780,808 | ||||||||||||||
270 | Pima County Unified School District 1, Tucson, Arizona, School Improvement Bonds, Series 2007C, 5.000%, 7/01/27 (Pre-refunded 7/01/17) – FGIC Insured | 7/17 at 100.00 | Aa2 (4) | 311,907 | ||||||||||||||
3,705 | Pinal County Electrical District 3, Arizona, Electric System Revenue Bonds, Refunding Series 2011, 5.250%, 7/01/41 | 7/21 at 100.00 | A | 3,835,861 | ||||||||||||||
1,000 | Pinal County Unified School District 1 Florence, Arizona, General Obligation Bonds, Series 2007A, 5.000%, 7/01/27 – FGIC Insured | 7/17 at 100.00 | A | 1,069,600 | ||||||||||||||
300 | Queen Creek, Arizona, Improvement District 1 Improvement Bonds, Series 2006, 5.000%, 1/01/20 | 1/14 at 100.00 | A3 | 300,480 | ||||||||||||||
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007: | ||||||||||||||||||
1,000 | 5.250%, 12/01/28 | No Opt. Call | A– | 1,058,980 | ||||||||||||||
3,250 | 5.000%, 12/01/32 | No Opt. Call | A– | 3,289,130 | ||||||||||||||
7,000 | 5.000%, 12/01/37 | No Opt. Call | A– | 7,044,730 | ||||||||||||||
1,000 | Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2008A, 5.000%, 9/01/22 | 9/18 at 100.00 | A2 | 1,059,200 | ||||||||||||||
500 | Scottsdale Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series 2005C, 4.550%, 7/01/21 – AMBAC Insured | 7/17 at 100.00 | AAA | 552,825 | ||||||||||||||
4,300 | Scottsdale Municipal Property Corporation, Arizona, Excise Tax Revenue Bonds, Series 2008A, 5.000%, 7/01/21 | 7/18 at 100.00 | AAA | 4,927,241 | ||||||||||||||
Tempe Industrial Development Authority, Arizona, Revenue Bonds, Friendship Village of Tempe Project, Refunding Series 2012A: | ||||||||||||||||||
2,590 | 6.000%, 12/01/27 | 12/21 at 100.00 | N/R | 2,644,649 | ||||||||||||||
430 | 6.000%, 12/01/32 | 12/21 at 100.00 | N/R | 429,974 | ||||||||||||||
1,100 | 6.250%, 12/01/42 | 12/21 at 100.00 | N/R | 1,103,729 | ||||||||||||||
415 | Tempe Industrial Development Authority, Arizona, Senior Living Revenue Bonds, Friendship Village of Tempe Project, Refunding Series 2004A, 5.375%, 12/01/13 (ETM) | No Opt. Call | N/R (4) | 416,233 | ||||||||||||||
250 | Tucson, Arizona, General Obligation Refunding Bonds, Series 1998, 5.500%, 7/01/18 | No Opt. Call | AA | 298,023 | ||||||||||||||
450 | University Medical Center Corporation, Arizona, Hospital Revenue Bonds, Refunding Series 2004, 5.000%, 7/01/24 | 7/14 at 100.00 | BBB+ | 454,878 | ||||||||||||||
125 | University Medical Center Corporation, Arizona, Hospital Revenue Bonds, Series 2005, 5.000%, 7/01/16 | 7/15 at 100.00 | BBB+ | 131,843 | ||||||||||||||
1,000 | University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series 2011, 6.000%, 7/01/39 | 7/21 at 100.00 | BBB+ | 1,038,130 | ||||||||||||||
953 | Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds, Series 2005, 6.000%, 7/01/30 | 7/16 at 100.00 | N/R | 941,059 | ||||||||||||||
400 | Yavapai County Industrial Development Authority, Arizona, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2003A-1, 4.900%, 3/01/28 (Alternative Minimum Tax) | 3/16 at 101.00 | BBB | 406,528 | ||||||||||||||
71,123 | Total Arizona | 73,711,295.00 |
Nuveen Investments | 29 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Arkansas – 0.1% | ||||||||||||||||||
Benton County Public Facilities Board, Arkansas, Charter School Lease Revenue Bonds, BCCSO Project, Series 2010A: | ||||||||||||||||||
$ | 500 | 5.750%, 6/01/30 | 6/20 at 100.00 | BBB | $ | 525,655 | ||||||||||||
1,000 | 6.000%, 6/01/40 | 6/20 at 100.00 | BBB | 1,045,770 | ||||||||||||||
1,500 | Total Arkansas | 1,571,425 | ||||||||||||||||
California – 11.0% | ||||||||||||||||||
2,400 | Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 0.000%, 10/01/20 – AMBAC Insured | No Opt. Call | BBB+ | 1,908,240 | ||||||||||||||
1,000 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Tender Option Bond Trust 2985, 17.860%, 4/01/34 (IF) | 4/18 at 100.00 | AA | 1,183,400 | ||||||||||||||
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, Series 2005AC: | ||||||||||||||||||
10 | 5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured | 12/14 at 100.00 | AAA | 10,524 | ||||||||||||||
55 | 5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured | 12/14 at 100.00 | Aa1 (4) | 57,880 | ||||||||||||||
935 | 5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured | 12/14 at 100.00 | AAA | 983,957 | ||||||||||||||
2,000 | California Department of Water Resources, Water System Revenue Bonds, Central Valley Project, Series 2008AE, 5.000%, 12/01/21 | 6/18 at 100.00 | AAA | 2,322,700 | ||||||||||||||
1,000 | California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006, 5.000%, 11/01/30 | 11/15 at 100.00 | A2 | 1,014,910 | ||||||||||||||
1,065 | California Educational Facilities Authority, Revenue Bonds, Woodbury University, Series 2006, 5.000%, 1/01/36 | 1/15 at 100.00 | Baa3 | 979,289 | ||||||||||||||
5,100 | California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2009B, 5.500%, 10/01/39 | 10/19 at 100.00 | AA | 5,610,357 | ||||||||||||||
2,185 | California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37 | 7/23 at 100.00 | AA– | 2,214,956 | ||||||||||||||
3,450 | California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45 | 8/20 at 100.00 | BBB | 3,583,619 | ||||||||||||||
14,500 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2005C, 5.125%, 11/01/23 (Alternative Minimum Tax) | 11/15 at 101.00 | BBB | 15,032,440 | ||||||||||||||
1,000 | California State Public Works Board, Lease Revenue Bonds, Judicial Council of California, Various Projects Series 2011D, 5.000%, 12/01/20 | No Opt. Call | A2 | 1,173,250 | ||||||||||||||
1,000 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1, 5.750%, 3/01/30 | 3/20 at 100.00 | A2 | 1,105,830 | ||||||||||||||
600 | California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 – AMBAC Insured | 5/15 at 100.00 | Aa2 | 636,066 | ||||||||||||||
1,650 | California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 (Pre-refunded 5/01/15) – AMBAC Insured | 5/15 at 100.00 | Aa2 (4) | 1,767,827 | ||||||||||||||
4,500 | California State, General Obligation Bonds, Series 2004, 5.000%, 6/01/31 – AMBAC Insured | 12/14 at 100.00 | A1 | 4,639,500 | ||||||||||||||
700 | California State, General Obligation Bonds, Tender Option Bond Trust 3162, 19.835%, 3/01/18 – AGM Insured (IF) | No Opt. Call | AA– | 955,668 | ||||||||||||||
8,475 | California State, General Obligation Bonds, Various Purpose Series 2008, 5.000%, 4/01/38 | 4/18 at 100.00 | A1 | 8,752,302 | ||||||||||||||
1,400 | California State, General Obligation Bonds, Various Purpose Series 2010, 5.250%, 3/01/30 | 3/20 at 100.00 | A1 | 1,529,710 | ||||||||||||||
1,725 | California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 5.750%, 10/01/25 | 10/19 at 100.00 | BBB+ | 1,823,912 | ||||||||||||||
1,575 | California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.204%, 7/01/47 – AGM Insured (IF) | 7/18 at 100.00 | AA- | 1,683,612 | ||||||||||||||
850 | California Statewide Community Development Authority, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008E, 5.500%, 7/01/31 | 7/17 at 100.00 | A | 918,323 | ||||||||||||||
2,000 | California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los Angeles, Series 2007, 5.000%, 8/15/47 | 8/17 at 100.00 | BBB+ | 1,821,780 | ||||||||||||||
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A: | ||||||||||||||||||
825 | 5.250%, 7/01/30 | 7/15 at 100.00 | BBB– | 825,652 | ||||||||||||||
5,300 | 5.250%, 7/01/35 | 7/15 at 100.00 | BBB– | 4,983,007 | ||||||||||||||
2,000 | 5.000%, 7/01/39 | 7/15 at 100.00 | BBB– | 1,779,040 | ||||||||||||||
1,000 | California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 – FGIC Insured | 7/18 at 100.00 | AA– | 1,101,700 |
30 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 1,050 | California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007B, 5.450%, 7/01/26 – FGIC Insured | 7/18 at 100.00 | AA– | $ | 1,181,754 | ||||||||||||
1,050 | California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007C, 5.450%, 7/01/26 – FGIC Insured | 7/18 at 100.00 | AA– | 1,181,754 | ||||||||||||||
675 | California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3048, 18.652%, 11/15/46 (IF) | 11/16 at 100.00 | AA– | 688,878 | ||||||||||||||
500 | Chino Hill, California, Community Facilities District 10 Special Tax Bonds, Series 2010, 5.000%, 9/01/30 – AGM Insured | 9/20 at 100.00 | AA– | 515,725 | ||||||||||||||
3,805 | Contra Costa Home Mortgage Finance Authority, California, Home Mortgage Revenue Bonds, Series 1984, 0.000%, 9/01/17 – NPFG Insured (ETM) | No Opt. Call | Aaa | 2,999,329 | ||||||||||||||
400 | Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36 | 12/21 at 100.00 | A+ | 461,260 | ||||||||||||||
1,960 | Elk Grove Community Facilities District 2005-1, California, Special Tax Bonds, Series 2007, 5.250%, 9/01/37 | 9/15 at 102.00 | N/R | 1,705,474 | ||||||||||||||
510 | Etiwanda School District, California, Coyote Canyon Community Facilities District 2004-1 Improvement Area 2 Special Tax Bonds, Series 2009, 6.500%, 9/01/32 | 9/19 at 100.00 | N/R | 528,166 | ||||||||||||||
1,385 | Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27 – AMBAC Insured | 9/15 at 100.00 | A | 1,418,836 | ||||||||||||||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A: | ||||||||||||||||||
6,000 | 5.000%, 6/01/35 – FGIC Insured | 6/15 at 100.00 | A2 | 5,976,180 | ||||||||||||||
1,300 | 5.000%, 6/01/35 – AGC Insured | 6/15 at 100.00 | AA | 1,300,819 | ||||||||||||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: | ||||||||||||||||||
5,880 | 4.500%, 6/01/27 | 6/17 at 100.00 | B | 5,029,046 | ||||||||||||||
3,480 | 5.000%, 6/01/33 | 6/17 at 100.00 | B | 2,682,558 | ||||||||||||||
8,740 | 5.750%, 6/01/47 | 6/17 at 100.00 | B | 6,743,085 | ||||||||||||||
1,000 | Jurupa Public Financing Authority, California, Superior Lien Revenue Bonds, Series 2010A, 5.000%, 9/01/33 | 9/20 at 100.00 | AA– | 1,015,540 | ||||||||||||||
1,980 | Kern Community College District, California, General Obligation Bonds, Series 2006, 0.000%, 11/01/23 – AGM Insured | No Opt. Call | Aa2 | 1,352,875 | ||||||||||||||
1,500 | Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38 | 12/17 at 100.00 | BBB | 1,641,195 | ||||||||||||||
6,000 | Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill Project, Series 2004A, 5.000%, 12/01/24 – AGM Insured | 12/14 at 100.00 | AA– | 6,230,520 | ||||||||||||||
1,000 | Los Angeles Department of Harbors, California, Revenue Bonds, Series 2009B, 5.250%, 8/01/39 | 8/19 at 100.00 | AA | 1,091,080 | ||||||||||||||
500 | Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.000%, 9/01/31 | 9/21 at 100.00 | A– | 551,340 | ||||||||||||||
3,000 | Madera County, California, Certificates of Participation, Children’s Hospital Central California, Series 2010, 5.375%, 3/15/36 | 3/20 at 100.00 | A+ | 3,058,110 | ||||||||||||||
1,000 | Manteca Financing Authority, California, Sewer Revenue Bonds, Series 2009, 5.750%, 12/01/36 | 12/19 at 100.00 | AAA | 1,119,630 | ||||||||||||||
500 | Metropolitan Water District of Southern California, Water Revenue Bonds, Series 2006C, 5.000%, 7/01/29 | 7/16 at 100.00 | AAA | 538,215 | ||||||||||||||
1,000 | Modesto Irrigation District, California, Electric System Revenue Bonds, Refunding Series 2011A, 5.000%, 7/01/26 | 7/21 at 100.00 | A+ | 1,097,960 | ||||||||||||||
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009A: | ||||||||||||||||||
2,800 | 7.000%, 11/01/34 | No Opt. Call | A | 3,529,624 | ||||||||||||||
2,500 | 6.500%, 11/01/39 | No Opt. Call | A | 3,006,750 | ||||||||||||||
13,750 | Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Series 1993, 5.800%, 8/01/23 – NPFG Insured (ETM) | 1/14 at 100.00 | A (4) | 15,587,550 | ||||||||||||||
1,310 | Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.000%, 4/01/25 | 4/14 at 100.00 | BB | 1,324,253 | ||||||||||||||
1,740 | Palmdale, California, Special Tax Bonds, Community Facilities District 2003-1, Anaverde Project, Series 2005A, 5.350%, 9/01/30 | 9/15 at 101.00 | N/R | 1,741,218 | ||||||||||||||
3,000 | Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.625%, 11/01/29 | 11/19 at 100.00 | Baa3 | 3,130,380 | ||||||||||||||
1,710 | Perris Public Financing Authority, California, Tax Allocation Revenue Bonds, Housing Loan Series 2010A, 6.125%, 10/01/40 | 10/20 at 100.00 | A | 1,828,452 |
Nuveen Investments | 31 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 3,775 | Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2009A, 0.000%, 8/01/23 | No Opt. Call | Aa2 | $ | 2,609,695 | ||||||||||||
5,000 | Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2011A, 0.000%, 8/01/41 | No Opt. Call | Aa2 | 993,200 | ||||||||||||||
2,035 | Redding, California, Electric System Revenue Certificates of Participation, Series 2005, 5.000%, 6/01/30 – FGIC Insured | 6/15 at 100.00 | A | 2,050,140 | ||||||||||||||
15,000 | Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011A, 0.000%, 8/01/41 – AGM Insured | 8/36 at 100.00 | AA– | 8,068,950 | ||||||||||||||
4,000 | Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37 | 6/20 at 100.00 | A– | 4,238,200 | ||||||||||||||
2,500 | Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series 2005B, 4.750%, 12/01/21 – FGIC Insured | 12/15 at 100.00 | AA | 2,676,000 | ||||||||||||||
920 | Sacramento, California, Community Facilities District 05-1, College Square Special Tax Bonds, Series 2007, 5.900%, 9/01/37 | 9/17 at 100.00 | N/R | 896,945 | ||||||||||||||
San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Senior Series 2013B: | ||||||||||||||||||
1,225 | 5.000%, 7/01/20 (Alternative Minimum Tax) | No Opt. Call | A+ | 1,414,814 | ||||||||||||||
1,200 | 5.000%, 7/01/21 (Alternative Minimum Tax) | No Opt. Call | A+ | 1,378,344 | ||||||||||||||
1,150 | 5.000%, 7/01/22 (Alternative Minimum Tax) | No Opt. Call | A+ | 1,318,682 | ||||||||||||||
700 | 5.000%, 7/01/23 (Alternative Minimum Tax) | No Opt. Call | A+ | 802,788 | ||||||||||||||
8,965 | San Diego County Water Authority, California, Water Revenue Certificates of Participation, Series 2004A, 5.000%, 5/01/30 (Pre-refunded 5/01/15) | 5/15 at 100.00 | Aa2 (4) | 9,605,191 | ||||||||||||||
1,035 | San Diego County Water Authority, California, Water Revenue Certificates of Participation, Series 2004A, 5.000%, 5/01/30 | 5/15 at 100.00 | AA+ | 1,076,172 | ||||||||||||||
1,500 | San Diego Unified Port District, California, Revenue Bonds, Series 2004B, 5.000%, 9/01/29 – NPFG Insured | 9/14 at 100.00 | A+ | 1,541,445 | ||||||||||||||
2,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series A of 2009, 4.900%, 5/01/29 | 11/19 at 100.00 | A+ | 2,101,500 | ||||||||||||||
670 | San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2009C, 6.500%, 8/01/39 | 8/19 at 100.00 | A– | 738,595 | ||||||||||||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A: | ||||||||||||||||||
8,390 | 0.000%, 1/15/24 – NPFG Insured | No Opt. Call | A | 4,667,189 | ||||||||||||||
51,000 | 0.000%, 1/15/31 – NPFG Insured | No Opt. Call | A | 17,367,540 | ||||||||||||||
8,400 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C, 4.250%, 8/01/30 – NPFG Insured | 8/17 at 100.00 | A | 7,562,184 | ||||||||||||||
3,450 | San Jose Unified School District, Santa Clara County, California, General Obligation Bonds, Series 2005B, 5.000%, 8/01/26 (Pre-refunded 8/01/15) – FGIC Insured | 8/15 at 100.00 | AA (4) | 3,735,626 | ||||||||||||||
440 | Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 7.000%, 8/01/31 | 2/21 at 100.00 | A | 512,094 | ||||||||||||||
2,050 | Semitrophic Improvement District of Semitrophic Water Storage District, Kern County, California, Revenue Bonds, Refunding Series 2009A, 5.000%, 12/01/38 | 12/19 at 100.00 | AA– | 2,128,249 | ||||||||||||||
4,000 | Southern California Public Power Authority, Transmission Project Revenue Bonds, Southern Transmission Subordinate Lien Refunding Series 2008A, 5.000%, 7/01/20 | 7/18 at 100.00 | AA– | 4,671,480 | ||||||||||||||
500 | Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 6.750%, 8/01/31 | 8/21 at 100.00 | A | 578,545 | ||||||||||||||
920 | Tustin Community Redevelopment Agency, California, Tax Allocation Housing Bonds Series 2010, 5.000%, 9/01/30 – AGM Insured | 9/20 at 100.00 | AA– | 950,572 | ||||||||||||||
205 | Val Verde Unified School District, Riverside County, California, Certificates of Participation, Series 2009A, 5.125%, 3/01/36 – AGC Insured | 3/19 at 100.00 | AA– | 208,860 | ||||||||||||||
1,000 | Ventura County Area Housing Authority, California, Multifamily Revenue Bonds, Mira Vista Senior Apartments Project, Series 2006A, 5.000%, 12/01/22 – AMBAC Insured (Alternative Minimum Tax) | 12/16 at 100.00 | N/R | 975,030 | ||||||||||||||
5,000 | Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured | 8/26 at 100.00 | AA– | 3,865,800 | ||||||||||||||
2,000 | Walnut Energy Center Authority, California, Electric Revenue Bonds, Turlock Irrigation District, Series 2004A, 5.000%, 1/01/34 – AMBAC Insured | 1/14 at 100.00 | A+ | 2,010,420 |
32 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 5,000 | West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Election 2010 Series 2011A, 5.000%, 8/01/41 | 8/21 at 100.00 | Aa3 | $ | 5,018,750 | ||||||||||||
485 | West Sacramento Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 1999F, 6.100%, 9/01/29 | 3/14 at 100.00 | N/R | 485,398 | ||||||||||||||
1,500 | Western Placer Unified School District, Placer County, California, Certificates of Participation, Refunding Series 2009, 5.250%, 8/01/35 – AGM Insured | 8/19 at 100.00 | AA– | 1,541,790 | ||||||||||||||
Westminster School District, Orange County, California, General Obligation Bonds, Series 2009-A1: | ||||||||||||||||||
2,485 | 0.000%, 8/01/26 – AGC Insured | No Opt. Call | AA– | 1,375,174 | ||||||||||||||
1,405 | 0.000%, 8/01/28 – AGC Insured | No Opt. Call | AA– | 677,168 | ||||||||||||||
2,920 | 0.000%, 8/01/29 – AGC Insured | No Opt. Call | AA– | 1,308,890 | ||||||||||||||
302,150 | Total California | 251,808,427 | ||||||||||||||||
Colorado – 4.4% | ||||||||||||||||||
1,000 | Arista Metropolitan District, Colorado, Special Revenue Bonds, Series 2008, 9.250%, 12/01/37 | 12/15 at 100.00 | N/R | 519,370 | ||||||||||||||
Baptist Road Rural Transportation Authority, Colorado, Sales and Use Tax Revenue Bonds, Series 2007: | ||||||||||||||||||
580 | 4.800%, 12/01/17 | No Opt. Call | N/R | 562,287 | ||||||||||||||
905 | 5.000%, 12/01/26 | 12/17 at 100.00 | N/R | 757,648 | ||||||||||||||
1,075 | Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2013, 7.000%, 12/01/23 | 7/18 at 100.00 | N/R | 1,060,509 | ||||||||||||||
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Bromley School, Series 2005: | ||||||||||||||||||
1,245 | 5.125%, 9/15/25 – SYNCORA GTY Insured | 9/15 at 100.00 | A | 1,268,717 | ||||||||||||||
2,140 | 5.250%, 9/15/32 – SYNCORA GTY Insured | 9/15 at 100.00 | A | 2,152,926 | ||||||||||||||
2,065 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy Project, Series 2008, 6.500%, 7/01/38 | 7/18 at 100.00 | BB | 1,879,212 | ||||||||||||||
3,040 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy, Inc. Second Campus Project, Series 2013, 7.350%, 8/01/43 | 8/23 at 100.00 | BB | 3,088,275 | ||||||||||||||
1,025 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Crown Pointe Academy of Westminster Project, Chartered Through Adams County School District 50, Series 2009, 5.000%, 7/15/39 | 7/19 at 100.00 | BBB | 961,532 | ||||||||||||||
1,000 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Lincoln Academy Charter School Project, Series 2013, 5.000%, 3/01/43 | 3/23 at 100.00 | A | 910,640 | ||||||||||||||
2,500 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Pinnacle Charter School, Inc. High School Project, Series 2010, 5.125%, 12/01/39 | 12/19 at 100.00 | BBB | 2,417,850 | ||||||||||||||
945 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Pikes Peak School of Expeditionary Learning Charter School, Series 2008, 6.625%, 6/01/38 | 6/18 at 102.00 | N/R | 921,186 | ||||||||||||||
3,000 | Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003A, 5.500%, 5/15/30 – AGM Insured | 5/19 at 100.00 | AA– | 3,156,840 | ||||||||||||||
1,500 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes Project, Series 2009A, 7.750%, 8/01/29 | 8/19 at 100.00 | N/R | 1,587,375 | ||||||||||||||
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Colorado Senior Residences Project, Series 2012: | ||||||||||||||||||
1,295 | 5.625%, 6/01/22 | No Opt. Call | N/R | 1,254,920 | ||||||||||||||
1,370 | 7.000%, 6/01/42 | 6/22 at 100.00 | N/R | 1,335,243 | ||||||||||||||
1,375 | 7.125%, 6/01/47 | 6/22 at 100.00 | N/R | 1,356,575 | ||||||||||||||
12,500 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc., Refunding Series 2012A, 5.000%, 12/01/33 | 12/22 at 100.00 | BBB+ | 11,637,500 | ||||||||||||||
725 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.625%, 6/01/43 | 6/23 at 100.00 | A– | 735,150 | ||||||||||||||
1,425 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, National Jewish Medical and Research Center, Series 2012, 5.000%, 1/01/25 | 1/22 at 100.00 | BBB– | 1,465,798 | ||||||||||||||
100 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005B, 5.250%, 3/01/36 – AGM Insured | 9/18 at 102.00 | AA– | 103,176 | ||||||||||||||
3,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Refunding Composite Deal Series 2010B, 5.250%, 1/01/25 | 1/20 at 100.00 | AA– | 3,283,560 | ||||||||||||||
1,100 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Long-term Care National Obligated Group Project, Series 2010A, 6.250%, 11/15/40 | 11/20 at 100.00 | BBB– | 1,141,492 |
Nuveen Investments | 33 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Colorado (continued) | ||||||||||||||||||
$ | 2,610 | Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2006, 5.250%, 6/01/36 | 6/16 at 100.00 | A– | $ | 2,570,850 | ||||||||||||
1,590 | Colorado Housing and Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2004, 5.700%, 7/01/18 (Alternative Minimum Tax) | No Opt. Call | BBB | 1,759,510 | ||||||||||||||
1,200 | Commerce City Northern Infrastructure General Improvement District, Colorado, General Obligation Bonds, Series 2013, 4.000%, 12/01/38 – AGM Insured | 12/22 at 100.00 | AA– | 1,075,344 | ||||||||||||||
540 | Compark Business Campus Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007A, 5.750%, 12/01/27 – RAAI Insured | 12/17 at 100.00 | N/R | 533,817 | ||||||||||||||
1,000 | Compark Business Campus Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Series 2012A, 6.750%, 12/01/39 – RAAI Insured | 12/22 at 100.00 | N/R | 958,150 | ||||||||||||||
1,995 | Concord Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Refunding Series 2010, 5.375%, 12/01/40 | 12/20 at 100.00 | BBB | 2,016,546 | ||||||||||||||
605 | Confluence Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Series 2007, 5.250%, 12/01/17 | No Opt. Call | N/R | 569,620 | ||||||||||||||
1,730 | Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/21 | 11/20 at 100.00 | A+ | 1,991,161 | ||||||||||||||
5,000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A, 5.250%, 11/15/43 (Alternative Minimum Tax) | 11/23 at 100.00 | A | 5,054,300 | ||||||||||||||
11,555 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/24 – NPFG Insured | No Opt. Call | A | 7,034,915 | ||||||||||||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: | ||||||||||||||||||
20 | 0.000%, 9/01/29 – NPFG Insured | No Opt. Call | A | 8,563 | ||||||||||||||
395 | 0.000%, 9/01/30 – NPFG Insured | No Opt. Call | A | 154,876 | ||||||||||||||
15,000 | 0.000%, 9/01/31 – NPFG Insured | No Opt. Call | A | 5,448,600 | ||||||||||||||
20 | 0.000%, 9/01/32 – NPFG Insured | No Opt. Call | A | 6,801 | ||||||||||||||
25 | 0.000%, 9/01/33 – NPFG Insured | No Opt. Call | A | 7,951 | ||||||||||||||
9,890 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/27 – NPFG Insured | No Opt. Call | A | 4,868,254 | ||||||||||||||
2,145 | Fitzsimons Village Metropolitan District 1, Aurora, Arapahoe County, Colorado, Tax Increment Public Improvement Fee Supported Revenue Bonds, Series 2010A, 7.500%, 3/01/40 | 3/20 at 100.00 | N/R | 2,201,006 | ||||||||||||||
775 | Fossil Ridge Metropolitan District 1, Lakewood, Colorado, Tax-Supported Revenue Bonds, Refunding Series 2010, 7.250%, 12/01/40 | 12/20 at 100.00 | N/R | 777,426 | ||||||||||||||
2,025 | Park Creek Metropolitan District, Colorado, Senior Property Tax Supported Revenue Bonds, Series 2009, 6.375%, 12/01/37 – AGC Insured | 12/19 at 100.00 | AA– | 2,217,112 | ||||||||||||||
700 | Pinery West Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series 2007, 5.000%, 12/01/27 – RAAI Insured | 12/17 at 100.00 | N/R | 652,953 | ||||||||||||||
4,300 | Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013, 4.500%, 12/01/30 | 12/22 at 100.00 | N/R | 3,876,020 | ||||||||||||||
Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008: | ||||||||||||||||||
2,140 | 6.250%, 11/15/28 | No Opt. Call | A | 2,449,893 | ||||||||||||||
3,010 | 6.500%, 11/15/38 | No Opt. Call | A | 3,585,000 | ||||||||||||||
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010: | ||||||||||||||||||
1,025 | 5.250%, 7/15/24 | 7/20 at 100.00 | Baa3 | 1,082,974 | ||||||||||||||
4,265 | 6.000%, 1/15/41 | 7/20 at 100.00 | Baa3 | 4,378,023 | ||||||||||||||
815 | Three Springs Metropolitan District 3, Durango, La Plata County, Colorado, Property Tax Supported Revenue Bonds, Series 2010, 7.750%, 12/01/39 | 12/20 at 100.00 | N/R | 838,488 | ||||||||||||||
20 | University of Colorado, Enterprise System Revenue Bonds, Series 2005, 5.000%, 6/01/26 – FGIC Insured | 6/15 at 100.00 | Aa2 | 21,231 | ||||||||||||||
119,305 | Total Colorado | 99,697,165 | ||||||||||||||||
Connecticut – 0.2% | ||||||||||||||||||
1,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G, 5.625%, 7/01/41 | 7/21 at 100.00 | Baa1 | 1,034,170 | ||||||||||||||
1,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Tender Option Bond Trust 1080, 18.014%, 7/01/15 (IF) (5) | No Opt. Call | AAA | 1,315,880 | ||||||||||||||
933 | Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.000%, 4/01/22 | 4/20 at 100.00 | N/R | 1,013,033 |
34 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Connecticut (continued) | ||||||||||||||||||
$ | 1,800 | Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011aA, 7.000%, 4/01/41 | 4/21 at 100.00 | N/R | $ | 1,820,556 | ||||||||||||
4,733 | Total Connecticut | 5,183,639 | ||||||||||||||||
Delaware – 0.4% | ||||||||||||||||||
1,000 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, Indian River Power LLC Project, Series 2010, 5.375%, 10/01/45 | 10/20 at 100.00 | Baa3 | 955,240 | ||||||||||||||
5,000 | Delaware Transportation Authority, Transportation System Revenue Bonds, Senior Lien Series 2008, 5.000%, 7/01/19 | No Opt. Call | AA+ | 5,965,400 | ||||||||||||||
1,140 | Wilmington, Delaware, Replacement Housing Factor Fund Securitization Revenue Bonds, Wilmington Housing Authority-Lincoln Towers Project, Series 2011, 5.750%, 7/15/16 | 1/14 at 100.00 | N/R | 1,140,513 | ||||||||||||||
7,140 | Total Delaware | 8,061,153 | ||||||||||||||||
District of Columbia – 0.2% | ||||||||||||||||||
4,365 | District of Columbia, Certificates of Participation, Series 2003, 5.500%, 1/01/18 – AMBAC Insured | 1/14 at 100.00 | A+ | 4,398,785 | ||||||||||||||
1,000 | District of Columbia, Revenue Bonds, Friendship Public Charter School Inc., Series 2006, 5.000%, 6/01/26 – ACA Insured | 6/16 at 100.00 | BBB | 969,090 | ||||||||||||||
5,365 | Total District of Columbia | 5,367,875 | ||||||||||||||||
Florida – 8.6% | ||||||||||||||||||
1,200 | Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A, 5.000%, 11/15/28 | 11/23 at 100.00 | BBB | 1,212,720 | ||||||||||||||
1,250 | Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2010A, 6.000%, 9/01/40 | 9/20 at 100.00 | BBB– | 1,236,725 | ||||||||||||||
1,000 | Boynton Beach, Florida, Revenue Bonds, Charter Schools of Boynton Beach, Series 2012A, 6.800%, 6/01/42 – NPFG Insured | 6/22 at 100.00 | B | 883,620 | ||||||||||||||
520 | Boynton Village Community Development District, Florida, Special Assessment Bonds, Series 2007-A1, 5.750%, 5/01/37 | 5/17 at 100.00 | N/R | 406,890 | ||||||||||||||
Brevard County Health Facilities Authority, Florida, Revenue Bonds, Health First Inc. Project, Series 2005: | ||||||||||||||||||
500 | 5.000%, 4/01/34 | 4/16 at 100.00 | A– | 498,395 | ||||||||||||||
750 | 5.000%, 4/01/36 | 4/16 at 100.00 | A– | 740,513 | ||||||||||||||
855 | Brevard County Health Facilities Authority, Florida, Revenue Bonds, Health First Inc. Project, Series 2009B, 7.000%, 4/01/39 | 4/19 at 100.00 | A– | 928,684 | ||||||||||||||
5,500 | Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 – AGM Insured | 10/21 at 100.00 | AA– | 5,612,365 | ||||||||||||||
1,025 | Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26 | No Opt. Call | A | 1,092,496 | ||||||||||||||
1,000 | Clearwater, Florida, Water and Sewer Revenue Bonds, Series 2009A, 5.250%, 12/01/39 – AGC Insured | 12/19 at 100.00 | AA– | 1,051,980 | ||||||||||||||
3,080 | Collier County, Florida, Gas Tax Revenue Bonds, Refunding Series 2012, 5.000%, 6/01/20 | No Opt. Call | AA– | 3,546,035 | ||||||||||||||
1,325 | Country Greens Community Development District, Florida, Special Assessment Bonds, Series 2003, 6.625%, 5/01/34 | 5/14 at 100.00 | N/R | 1,319,859 | ||||||||||||||
4,710 | Florida Citizens Property Insurance Corporation, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1, 5.000%, 6/01/19 | No Opt. Call | A+ | 5,389,841 | ||||||||||||||
2,885 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Bay Area Charter Foundation, LLC Projects, Series 2011A, 7.750%, 6/15/42 | 12/21 at 101.00 | N/R | 2,932,343 | ||||||||||||||
1,000 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2010A, 6.000%, 9/15/30 | 9/20 at 100.00 | BB+ | 953,060 | ||||||||||||||
Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2012A: | ||||||||||||||||||
1,000 | 5.500%, 6/15/22 | No Opt. Call | N/R | 965,340 | ||||||||||||||
500 | 6.000%, 6/15/32 | No Opt. Call | N/R | 452,205 | ||||||||||||||
1,100 | 6.125%, 6/15/43 | No Opt. Call | N/R | 960,674 | ||||||||||||||
2,000 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2013A, 8.500%, 6/15/44 (WI/DD, Settling 11/01/13) | 6/23 at 100.00 | N/R | 1,981,380 | ||||||||||||||
3,180 | Florida Development Finance Corporation, Revenue Bonds, Learning Gate Community Charter School Project, Series 2007A, 6.000%, 2/15/37 | 2/17 at 100.00 | BB | 2,877,455 | ||||||||||||||
6,800 | Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2012A, 5.000%, 4/01/27 | 4/22 at 100.00 | Baa1 | 7,091,448 |
Nuveen Investments | 35 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Florida (continued) | ||||||||||||||||||
Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Rollins College Project, Series 2012A: | ||||||||||||||||||
$ | 1,210 | 5.000%, 12/01/30 | 12/22 at 100.00 | A1 | $ | 1,275,885 | ||||||||||||
1,000 | 5.000%, 12/01/31 | 12/22 at 100.00 | A1 | 1,049,840 | ||||||||||||||
1,400 | 5.000%, 12/01/32 | 12/22 at 100.00 | A1 | 1,460,158 | ||||||||||||||
3,000 | 5.000%, 12/01/37 | 12/22 at 100.00 | A1 | 3,081,420 | ||||||||||||||
1,000 | Florida Housing Finance Agency, Housing Revenue Bonds, Stoddert Arms Apartments, Series 1996O, 6.300%, 9/01/36 – AMBAC Insured (Alternative Minimum Tax) | 3/14 at 100.00 | N/R | 1,000,010 | ||||||||||||||
295 | Florida State Board of Education, Full Faith and Credit Public Education Capital Outlay Bonds, Series 1985, 9.125%, 6/01/14 (ETM) | No Opt. Call | Aaa | 310,437 | ||||||||||||||
195 | Florida, Full Faith and Credit General Obligation Bonds, Broward County Expressway Authority, Series 1984, 10.000%, 7/01/14 (ETM) | No Opt. Call | Aaa | 207,773 | ||||||||||||||
Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006: | ||||||||||||||||||
2,250 | 5.250%, 6/01/26 | 6/16 at 100.00 | A– | 2,286,383 | ||||||||||||||
375 | 5.000%, 6/01/38 | 6/16 at 100.00 | A– | 348,206 | ||||||||||||||
1,900 | Hernando County, Florida, Revenue Bonds, Criminal Justice Complex Financing Program, Series 1986, 7.650%, 7/01/16 – FGIC Insured | No Opt. Call | A | 2,182,017 | ||||||||||||||
5,500 | Jacksonville Port Authority, Florida, Revenue Bonds, Refunding Series 2012, 5.000%, 11/01/38 (Alternative Minimum Tax) | 11/22 at 100.00 | A2 | 5,492,190 | ||||||||||||||
1,005 | JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 – AGM Insured | 4/15 at 100.00 | Aa2 | 1,036,044 | ||||||||||||||
945 | Keys Cove Community Development District, Florida, Special Assessment Revenue Bonds, Series 2004, 5.875%, 5/01/35 | 5/15 at 101.00 | N/R | 984,794 | ||||||||||||||
975 | Lake County School District, Florida, Sales Tax Revenue Bonds, Series 2004, 5.000%, 10/01/15 – AMBAC Insured | 10/14 at 100.00 | A+ | 1,014,546 | ||||||||||||||
970 | Lakes by the Bay South Community Development District, Florida, Special Assessment Bonds, Series 2004A, 6.100%, 5/01/23 | 5/14 at 101.00 | N/R | 970,291 | ||||||||||||||
1,000 | Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2007A, 5.250%, 6/15/27 | 6/17 at 100.00 | BB | 965,960 | ||||||||||||||
Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2012A: | ||||||||||||||||||
875 | 5.500%, 6/15/32 | 6/22 at 100.00 | BB | 844,323 | ||||||||||||||
1,375 | 5.750%, 6/15/42 | 6/22 at 100.00 | BB | 1,319,093 | ||||||||||||||
1,635 | Leesburg, Florida, Hospital Revenue Refunding Bonds, Leesburg Regional Medical Center Project, Series 2003, 5.000%, 7/01/17 | 1/14 at 100.00 | BBB+ | 1,637,959 | ||||||||||||||
2,305 | Leesburg, Florida, Utilities Revenue Bonds, Series 2004, 5.000%, 10/01/22 (Pre-refunded 10/01/14) – FGIC Insured | 10/14 at 100.00 | Aa3 (4) | 2,406,259 | ||||||||||||||
690 | Lexington Community Development District, Florida, Special Assessment Revenue Bonds, Series 2004, 6.125%, 5/01/34 | 5/14 at 101.00 | A– | 701,461 | ||||||||||||||
Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013: | ||||||||||||||||||
885 | 3.950%, 12/15/21 (Alternative Minimum Tax) | 6/20 at 100.00 | Ba1 | 796,606 | ||||||||||||||
8,000 | 4.200%, 12/15/25 (Alternative Minimum Tax) | 6/20 at 100.00 | Ba1 | 6,777,840 | ||||||||||||||
2,000 | Miami Beach Health Facilities Authority, Florida, Hospital Revenue Bonds, Mount Sinai Medical Center of Florida Project, Refunding 2012, 5.000%, 11/15/29 | 11/22 at 100.00 | Baa2 | 1,992,320 | ||||||||||||||
3,760 | Miami-Dade County Industrial Development Authority, Florida, Revenue Bonds, BAC Funding Corporation, Series 2000A, 5.375%, 10/01/30 – AMBAC Insured | 4/14 at 100.00 | Aa3 | 3,771,318 | ||||||||||||||
Miami-Dade County School Board, Florida, Certificates of Participation, Series 2013B: | ||||||||||||||||||
4,490 | 5.000%, 2/01/29 | 2/23 at 100.00 | A1 | 4,741,530 | ||||||||||||||
3,670 | 5.000%, 2/01/30 | 2/23 at 100.00 | A1 | 3,844,142 | ||||||||||||||
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A: | ||||||||||||||||||
1,825 | 5.000%, 10/01/20 (Alternative Minimum Tax) | No Opt. Call | A | 2,081,978 | ||||||||||||||
5,000 | 5.000%, 10/01/23 (Alternative Minimum Tax) | No Opt. Call | A | 5,516,650 | ||||||||||||||
7,020 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2004A, 5.000%, 10/01/30 – FGIC Insured (Alternative Minimum Tax) | 10/14 at 100.00 | A | 7,036,848 | ||||||||||||||
1,585 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/35 | 10/20 at 100.00 | A | 1,654,613 | ||||||||||||||
2,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Series 2008A, 5.500%, 10/01/27 – AGC Insured (Alternative Minimum Tax) | 10/18 at 100.00 | AA– | 2,212,380 |
36 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Florida (continued) | ||||||||||||||||||
$ | 10,000 | Miami-Dade County, Florida, General Obligation Bonds, Series 2005, 5.000%, 7/01/33 – AGM Insured | 7/15 at 100.00 | Aa2 | $ | 10,415,400 | ||||||||||||
1,040 | Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series 2009, 5.625%, 6/01/34 – AGC Insured (UB) (5) | 6/19 at 100.00 | AA– | 1,079,218 | ||||||||||||||
22,160 | Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42 | 10/22 at 100.00 | Aa3 | 22,525,862 | ||||||||||||||
1,000 | Northern Palm Beach County Improvement District, Florida, Revenue Bonds, Water Control and Improvement Development Unit 46B, Series 2007A, 5.350%, 8/01/41 | 8/17 at 100.00 | N/R | 954,090 | ||||||||||||||
3,370 | Old Palm Community Development District, Florida, Special Assessment Bonds, Palm Beach Gardens, Series 2004A, 5.900%, 5/01/35 | 5/15 at 101.00 | N/R | 3,389,445 | ||||||||||||||
Orange County Health Facilities Authority, Florida, Revenue Bonds, Mayflower Retirement Center, Refunding Series 2012: | ||||||||||||||||||
550 | 4.500%, 6/01/27 | 6/21 at 100.00 | A– | 524,799 | ||||||||||||||
625 | 5.000%, 6/01/32 | 6/21 at 100.00 | A– | 612,013 | ||||||||||||||
750 | 5.000%, 6/01/36 | 6/21 at 100.00 | A– | 722,933 | ||||||||||||||
750 | 5.125%, 6/01/42 | 6/21 at 100.00 | A– | 724,868 | ||||||||||||||
Orange County Health Facilities Authority, Florida, Revenue Bonds, Nemours Foundation, Series 2005: | ||||||||||||||||||
295 | 5.000%, 1/01/21 (Pre-refunded 1/01/15) | 1/15 at 100.00 | N/R (4) | 311,508 | ||||||||||||||
275 | 5.000%, 1/01/22 (Pre-refunded 1/01/15) | 1/15 at 100.00 | N/R (4) | 290,389 | ||||||||||||||
2,510 | Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Tender Option Bond Trust 1071, 17.294%, 10/01/42 (IF) (5) | 4/22 at 100.00 | A | 2,218,664 | ||||||||||||||
145 | Orange County, Florida, Sales Tax Revenue Bonds, Series 1989, 6.125%, 1/01/19 – FGIC Insured (ETM) | 1/14 at 100.00 | N/R (4) | 175,900 | ||||||||||||||
500 | Orlando Utilities Commission, Florida, Utility System Revenue Bonds, Series 2009A-1, 5.250%, 10/01/39 | 4/19 at 100.00 | AA | 535,455 | ||||||||||||||
Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Refunding Bonds, BRCH Corporation Obligated Group, Series 2001: | ||||||||||||||||||
20 | 5.500%, 12/01/21 | 12/13 at 100.00 | BBB– | 20,035 | ||||||||||||||
1,000 | 5.625%, 12/01/31 | 12/13 at 100.00 | BBB– | 1,000,570 | ||||||||||||||
2,690 | Palm Beach County Health Facilities Authority, Florida, Retirement Community Revenue Bonds, Adult Communities Total Services Retirement Life, Series 2006A, 4.500%, 11/15/36 | 11/16 at 100.00 | A– | 2,397,355 | ||||||||||||||
2,415 | Palm Beach County School Board, Florida, Certificates of Participation, Series 2007, 5.000%, 8/01/18 – FGIC Insured | 8/17 at 100.00 | AA– | 2,738,924 | ||||||||||||||
1,500 | Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Series 2002B, 0.000%, 10/01/15 – AMBAC Insured | No Opt. Call | AA+ | 1,475,250 | ||||||||||||||
1,880 | Panther Trails Community Development District, Florida, Special Assessment Bonds, Series 2005, 5.600%, 5/01/36 | 5/15 at 100.00 | A1 | 1,821,607 | ||||||||||||||
2,000 | Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B, Series 2007, 5.000%, 7/01/33 – NPFG Insured | 7/17 at 100.00 | A | 2,025,920 | ||||||||||||||
650 | Reedy Creek Improvement District, Florida, Utility Revenue Bonds, Series 2005-1, 5.000%, 10/01/25 (Pre-refunded 10/01/15) – AMBAC Insured | 10/15 at 100.00 | A1 (4) | 707,616 | ||||||||||||||
2,870 | Seminole Tribe of Florida, Special Obligation Bonds, Series 2007A, 144A, 5.250%, 10/01/27 | 10/17 at 100.00 | BBB– | 2,962,816 | ||||||||||||||
St. John’s County Industrial Development Authority, Florida, First Mortgage Revenue Bonds, Presbyterian Retirement Communities, Series 2004A: | ||||||||||||||||||
1,130 | 5.850%, 8/01/24 | 8/14 at 101.00 | A– | 1,156,103 | ||||||||||||||
1,565 | 5.625%, 8/01/34 | 8/14 at 101.00 | A– | 1,581,120 | ||||||||||||||
965 | Stoneybrook Venice Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2007, 6.750%, 5/01/38 | 5/18 at 100.00 | N/R | 969,593 | ||||||||||||||
535 | Sunrise, Florida, Utility System Revenue Refunding Bonds, Series 1998, 5.000%, 10/01/28 – AMBAC Insured | 10/18 at 100.00 | AA– | 559,861 | ||||||||||||||
1,000 | Tallahassee, Florida, Consolidated Utility System Revenue Bonds, Series 2005, 5.000%, 10/01/25 – AMBAC Insured | 10/15 at 100.00 | AA+ | 1,083,970 | ||||||||||||||
2,820 | Tallahassee, Florida, Energy System Revenue Bonds, Series 2005, 5.000%, 10/01/29 – NPFG Insured | 10/15 at 100.00 | AA | 2,979,358 | ||||||||||||||
2,095 | Tallahassee, Florida, Health Facilities Revenue Bonds, Tallahassee Memorial Healthcare Inc., Series 2000, 6.375%, 12/01/30 | 12/13 at 100.00 | Baa1 | 2,096,215 | ||||||||||||||
35 | Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33 | 5/22 at 100.00 | Aa2 | 35,966 | ||||||||||||||
165 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-2, 0.000%, 5/01/39 | 5/17 at 100.00 | N/R | 121,758 | ||||||||||||||
290 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 | 5/19 at 100.00 | N/R | 174,545 |
Nuveen Investments | 37 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Florida (continued) | ||||||||||||||||||
$ | 210 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 | 5/22 at 100.00 | N/R | $ | 93,681 | ||||||||||||
170 | Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.650%, 5/01/40 (6) | 5/18 at 100.00 | N/R | 2 | ||||||||||||||
475 | Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007A-2, 5.250%, 5/01/39 (6) | 5/17 at 100.00 | N/R | 5 | ||||||||||||||
15 | Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.650%, 5/01/40 (6) | 5/18 at 100.00 | N/R | 14,657 | ||||||||||||||
125 | Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007A-1. RMKT, 5.250%, 5/01/39 (6) | 5/17 at 100.00 | N/R | 102,060 | ||||||||||||||
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2012A-1: | ||||||||||||||||||
95 | 5.250%, 5/01/39 | 5/17 at 100.00 | N/R | 83,975 | ||||||||||||||
305 | 6.650%, 5/01/40 | 5/17 at 100.00 | N/R | 299,635 | ||||||||||||||
2,950 | Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37 | 5/14 at 101.00 | BB | 2,760,197 | ||||||||||||||
705 | Tolomato Community Development District, Florida, Special Assessment Bonds, Southern/Forbearance Parcel Series 2007-2, 6.650%, 5/01/40 (6) | 5/18 at 100.00 | N/R | 391,049 | ||||||||||||||
250 | Venetian Community Development District, Sarasota County, Florida, Capital Improvement Revenue Bonds, Series 2012-A1, 6.125%, 5/01/42 | 5/22 at 100.00 | N/R | 248,300 | ||||||||||||||
1,500 | Venetian Community Development District, Sarasota County, Florida, Capital Improvement Revenue Bonds, Series 2012-A2, 5.500%, 5/01/34 | 5/22 at 100.00 | N/R | 1,465,770 | ||||||||||||||
2,000 | Village Center Community Development District, Florida, Recreational Revenue Bonds, Series 2003A, 5.000%, 11/01/32 – NPFG Insured | 11/14 at 100.00 | A | 1,906,820 | ||||||||||||||
485 | Waters Edge Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.300%, 5/01/36 | 5/15 at 101.00 | N/R | 435,123 | ||||||||||||||
Westchester Community Development District 1, Florida, Special Assessment Bonds, Series 2003: | ||||||||||||||||||
525 | 6.000%, 5/01/23 | 5/14 at 100.00 | N/R | 526,381 | ||||||||||||||
3,750 | 6.125%, 5/01/35 | 5/14 at 100.00 | N/R | 3,753,000 | ||||||||||||||
194,470 | Total Florida | 195,605,083.00 | ||||||||||||||||
Georgia – 2.6% | ||||||||||||||||||
2,000 | Atlanta and Fulton County Recreation Authority, Georgia, Guaranteed Revenue Bonds, Park Improvement, Series 2005A, 5.000%, 12/01/30 – NPFG Insured | 12/15 at 100.00 | Aa2 | 2,097,340 | ||||||||||||||
1,000 | 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 | A– | 848,390 | ||||||||||||||
735 | Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31 | 1/19 at 100.00 | A2 | 856,187 | ||||||||||||||
1,735 | Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 6.750%, 1/01/20 | 1/19 at 100.00 | A2 | 2,118,713 | ||||||||||||||
265 | Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005A, 5.625%, 1/01/16 (Alternative Minimum Tax) | 7/15 at 100.00 | A– | 280,773 | ||||||||||||||
500 | Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2005B, 5.400%, 1/01/20 | 7/15 at 100.00 | A– | 528,005 | ||||||||||||||
495 | Atlanta, Georgia, Tax Allocation Bonds, Princeton Lakes Project, Series 2006, 5.500%, 1/01/31 | 1/16 at 100.00 | BBB– | 495,460 | ||||||||||||||
7,000 | Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.375%, 11/01/39 – AGM Insured | 11/19 at 100.00 | AA– | 7,289,100 | ||||||||||||||
1,000 | Augusta, Georgia, Airport Revenue Bonds, General Series 2005C, 5.450%, 1/01/31 (Alternative Minimum Tax) | 1/15 at 100.00 | Baa2 | 1,003,950 | ||||||||||||||
4,955 | Cobb County Development Authority, Georgia, University Facilities Revenue Bonds, Kennesaw State University Foundations, Student Housing Subordinate Lien Series 2004C, 5.250%, 7/15/24 – NPFG Insured | 7/14 at 100.00 | A3 | 5,088,339 | ||||||||||||||
4,000 | DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30 | 9/20 at 100.00 | BBB | 4,145,680 | ||||||||||||||
3,300 | Fulton County Development Authority, Georgia, Local District Cooling Authority Revenue Bonds, Maxon Atlantic Station LLC, Series 2005A, 5.125%, 3/01/26 (Mandatory put 3/01/15) (Alternative Minimum Tax) | 9/15 at 100.00 | BBB | 3,301,749 | ||||||||||||||
10,000 | Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Athletic Association, Series 2011, 5.750%, 10/01/41 | 4/21 at 100.00 | A+ | 10,734,800 | ||||||||||||||
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Molecular Science Building, Series 2004: | ||||||||||||||||||
1,250 | 5.250%, 5/01/21 – NPFG Insured | 5/14 at 100.00 | Aa3 | 1,278,175 |
38 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Georgia (continued) | ||||||||||||||||||
$ | 2,490 | 5.250%, 5/01/23 – NPFG Insured | 5/14 at 100.00 | Aa3 | $ | 2,544,730 | ||||||||||||
2,440 | 5.000%, 5/01/36 – NPFG Insured | 5/14 at 100.00 | Aa3 | 2,476,624 | ||||||||||||||
Fulton County Residential Care Facilities Elderly Authority, Georgia, Revenue Bonds, Canterbury Court, Refunding Series 2004A: | ||||||||||||||||||
1,500 | 6.125%, 2/15/26 | 2/14 at 101.00 | N/R | 1,505,370 | ||||||||||||||
4,080 | 6.125%, 2/15/34 | 2/14 at 101.00 | N/R | 3,947,441 | ||||||||||||||
1,100 | Georgia Municipal Electric Authority, Senior Lien General Power Revenue Bonds, Series 1993BB, 5.250%, 1/01/25 – NPFG Insured | No Opt. Call | A1 | 1,275,505 | ||||||||||||||
1,000 | Lavonia Hospital Authority, Georgia, Revenue Anticipation Certificates, Ty Cobb Regional Medical Center , Series 2010, 6.000%, 12/01/40 – AGM Insured | 12/20 at 100.00 | AA– | 1,060,820 | ||||||||||||||
Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A: | ||||||||||||||||||
955 | 5.000%, 3/15/22 | No Opt. Call | A+ | 1,063,641 | ||||||||||||||
1,000 | 5.500%, 9/15/28 | No Opt. Call | A | 1,081,610 | ||||||||||||||
1,590 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 5.250%, 10/01/27 | 10/21 at 100.00 | Baa2 | 1,680,010 | ||||||||||||||
1,000 | Richmond County Development Authority, Georgia, Revenue Bonds, Augusta State University, Jaguar Student Center Project, Series 2005A, 5.000%, 7/01/29 – SYNCORA GTY Insured | 7/15 at 100.00 | A2 | 1,009,720 | ||||||||||||||
1,000 | Savannah Economic Development Authority, Georgia, Revenue Bonds, Armstrong Atlantic State University, Windward Commons LLC Project, Series 2009, 5.000%, 6/15/39 – AGC Insured | 6/19 at 100.00 | AA– | 1,017,090 | ||||||||||||||
56,390 | Total Georgia | 58,729,222 | ||||||||||||||||
Guam – 0.2% | ||||||||||||||||||
1,020 | Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/31 | 1/22 at 100.00 | A | 1,051,661 | ||||||||||||||
2,000 | Guam Government Department of Education, Certificates of Participation, John F. Kennedy High School Project, Series 2010A, 6.625%, 12/01/30 | 12/20 at 100.00 | B+ | 2,067,940 | ||||||||||||||
880 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 | 7/20 at 100.00 | Ba2 | 836,290 | ||||||||||||||
1,610 | Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax) | 10/23 at 100.00 | BBB | 1,672,822 | ||||||||||||||
5,510 | Total Guam | 5,628,713 | ||||||||||||||||
Hawaii – 0.3% | ||||||||||||||||||
1,500 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43 | 7/23 at 100.00 | A2 | 1,533,165 | ||||||||||||||
1,000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43 | 7/23 at 100.00 | BB+ | 1,000,050 | ||||||||||||||
2,000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Kahala Nui Project, Series 2003A, 8.000%, 11/15/33 (Pre-refunded 11/15/13) | 11/13 at 102.00 | AA+ (4) | 2,046,120 | ||||||||||||||
Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009A: | ||||||||||||||||||
1,000 | 8.750%, 11/15/29 | 11/19 at 100.00 | N/R | 1,116,340 | ||||||||||||||
1,250 | 9.000%, 11/15/44 | 11/19 at 100.00 | N/R | 1,389,513 | ||||||||||||||
6,750 | Total Hawaii | 7,085,188 | ||||||||||||||||
Idaho – 0.2% | ||||||||||||||||||
Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Refunding Series 2008B: | ||||||||||||||||||
1,000 | 6.000%, 12/01/23 | 12/18 at 100.00 | Aa2 | 1,173,900 | ||||||||||||||
760 | 6.250%, 12/01/33 | 12/18 at 100.00 | Aa2 | 863,504 | ||||||||||||||
Idaho Housing and Finance Association, Grant and Revenue Anticipation Bonds, Federal Highway Trust Funds, Series 2006: | ||||||||||||||||||
1,000 | 5.000%, 7/15/23 – NPFG Insured | 7/16 at 100.00 | Aa3 | 1,094,170 | ||||||||||||||
1,065 | 5.000%, 7/15/24 – NPFG Insured | 7/16 at 100.00 | Aa3 | 1,165,291 | ||||||||||||||
3,825 | Total Idaho | 4,296,865 | ||||||||||||||||
Illinois – 9.2% | ||||||||||||||||||
2,000 | Bensenville, Illinois, General Obligation Bonds, Series 2011A, 5.000%, 12/15/30 – AGM Insured | 12/21 at 100.00 | AA– | 2,056,340 | ||||||||||||||
1,000 | Bryant, Illinois, Pollution Control Revenue Refunding Bonds, Central Illinois Light Company, Series 1993, 5.900%, 8/01/23 | 2/14 at 100.00 | A– | 1,001,370 |
Nuveen Investments | 39 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
$ | 974 | Cary, Illinois, Special Service Area 1 Special Tax Bonds, Series 2006, 5.000%, 3/01/30 – RAAI Insured | 3/16 at 100.00 | N/R | $ | 897,697 | ||||||||||||
3,300 | CenterPoint Intermodal Center Program, Illinois, Trust Series 2004 Class A Certificates, 3.730%, 6/15/23 | 12/13 at 100.00 | N/R | 3,298,581 | ||||||||||||||
Champaign, Illinois, General Obligation Sales Tax Bonds, Public Safety Series 1999: | ||||||||||||||||||
1,140 | 8.250%, 1/01/21 – FGIC Insured | No Opt. Call | A | 1,544,369 | ||||||||||||||
1,275 | 8.250%, 1/01/22 – FGIC Insured | No Opt. Call | A | 1,731,144 | ||||||||||||||
2,000 | Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Revenues, Series 2008C, 5.000%, 12/01/20 | 12/18 at 100.00 | A+ | 2,104,320 | ||||||||||||||
3,335 | Chicago Metropolitan Water Reclamation District, Illinois, General Obligation Bonds, Tender Option Bonds Trust 1130, 13.590%, 6/01/14 (IF) | No Opt. Call | AAA | 4,086,876 | ||||||||||||||
2,000 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40 | 12/21 at 100.00 | AA | 2,036,820 | ||||||||||||||
2,000 | Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2003A, 5.000%, 1/01/33 – AMBAC Insured | 1/14 at 100.00 | AA+ | 2,000,540 | ||||||||||||||
2,875 | Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport, Series 2005A, 5.250%, 1/01/24 – NPFG Insured | 1/16 at 100.00 | A | 3,059,460 | ||||||||||||||
15,000 | Chicago, Illinois, Water Revenue Bonds, Refunding Second Lien Series 2012-2, 4.000%, 11/01/37 | 11/22 at 100.00 | AA | 12,675,600 | ||||||||||||||
Community College District 523, Counties of DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago, and Boone, Illinois, General Obligation Bonds, Kishwaukee Community College, Capital Appreciation, Series 2011B: | ||||||||||||||||||
1,000 | 0.000%, 2/01/35 | 2/21 at 100.00 | AA | 273,480 | ||||||||||||||
750 | 0.000%, 2/01/36 | 2/21 at 100.00 | AA | 190,515 | ||||||||||||||
4,440 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33 | 11/20 at 100.00 | AA | 4,471,036 | ||||||||||||||
2,000 | Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.500%, 10/15/40 | 10/20 at 100.00 | B3 | 2,023,280 | ||||||||||||||
2,500 | Harvey, Cook County, Illinois, Tax Increment Allocation Revenue Bonds, Amended Center Street Redevelopment Project Area, Series 2010, 7.500%, 12/01/19 | No Opt. Call | N/R | 2,663,725 | ||||||||||||||
5,000 | Illinois Development Finance Authority, Pollution Control Revenue Refunding Bonds – CIPS Debt, Series 1993C-2, 5.950%, 8/15/26 | 2/14 at 100.00 | BBB | 4,999,900 | ||||||||||||||
1,375 | Illinois Finance Authority Revenue Bonds, Christian Homes, Inc. Obligated Group, Series 2007A, 5.750%, 5/15/31 | 5/17 at 100.00 | BBB– | 1,384,790 | ||||||||||||||
Illinois Finance Authority Revenue Bonds, Christian Homes, Inc., Refunding Series 2010: | ||||||||||||||||||
900 | 6.125%, 5/15/27 | 5/15 at 100.00 | BBB– | 911,160 | ||||||||||||||
2,000 | 6.125%, 5/15/27 | 5/20 at 100.00 | BBB– | 2,093,080 | ||||||||||||||
1,500 | Illinois Finance Authority, Charter School Revenue Bonds, Chicago Charter School Foundation, Series 2007, 5.000%, 12/01/36 | 12/16 at 100.00 | BBB+ | 1,350,945 | ||||||||||||||
1,000 | Illinois Finance Authority, Charter School Revenue Bonds, Uno Charter School Network, Refunding and Improvement Series 2011A, 7.125%, 10/01/41 | 10/21 at 100.00 | BBB– | 1,102,600 | ||||||||||||||
500 | Illinois Finance Authority, Revenue Bonds, Admiral at Lake Project, Series 2010A, 7.750%, 5/15/30 | 5/20 at 100.00 | N/R | 517,930 | ||||||||||||||
990 | Illinois Finance Authority, Revenue Bonds, Admiral at Lake Project, Temps 65 Series 2010D-2, 6.375%, 5/15/17 | 11/13 at 100.00 | N/R | 990,594 | ||||||||||||||
1,255 | Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39 | 11/19 at 100.00 | AA | 1,277,603 | ||||||||||||||
1,000 | Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A, 5.500%, 2/01/40 – AMBAC Insured | 2/18 at 100.00 | A+ | 1,016,740 | ||||||||||||||
4,050 | Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 7.125%, 2/01/34 | 2/19 at 100.00 | Baa3 | 4,269,632 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013: | ||||||||||||||||||
4,000 | 4.000%, 5/15/33 | 5/22 at 100.00 | Baa1 | 3,268,200 | ||||||||||||||
4,520 | 4.250%, 5/15/43 | 5/22 at 100.00 | Baa1 | 3,480,129 | ||||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2009A, 5.375%, 8/15/24 | 8/19 at 100.00 | AA+ | 2,257,740 | ||||||||||||||
2,545 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39 | 5/20 at 100.00 | A | 2,756,871 | ||||||||||||||
500 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 5.750%, 11/15/37 | 11/17 at 100.00 | A | 518,260 | ||||||||||||||
1,520 | Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35 | 5/20 at 100.00 | AA– | 1,561,146 | ||||||||||||||
2,900 | Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A, 7.750%, 8/15/34 | 8/19 at 100.00 | BBB+ | 3,515,003 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A: | ||||||||||||||||||
895 | 5.500%, 7/01/28 | 7/23 at 100.00 | A– | 916,838 | ||||||||||||||
3,000 | 6.500%, 7/01/34 | 7/18 at 100.00 | A– | 3,133,620 | ||||||||||||||
3,680 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A, 7.250%, 11/01/30 | 11/18 at 100.00 | A | 4,339,088 |
40 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C: | ||||||||||||||||||
$ | 1,335 | 6.625%, 11/01/39 | 5/19 at 100.00 | A | $ | 1,482,491 | ||||||||||||
1,665 | 6.625%, 11/01/39 (UB) (5) | 5/19 at 100.00 | A | 1,848,949 | ||||||||||||||
6,255 | Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A, 5.500%, 8/01/37 | 8/17 at 100.00 | BBB | 6,462,729 | ||||||||||||||
9,000 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38 | 8/19 at 100.00 | BBB+ | 9,700,110 | ||||||||||||||
925 | Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2005 Remarketed, 5.250%, 3/01/30 – AGM Insured | 3/20 at 100.00 | AA– | 964,100 | ||||||||||||||
4,000 | Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41 | 8/21 at 100.00 | AA– | 4,334,200 | ||||||||||||||
1,400 | Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2009B, 5.000%, 8/15/26 | 8/20 at 100.00 | AA– | 1,479,674 | ||||||||||||||
1,500 | Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 | 2/21 at 100.00 | AA– | 1,562,880 | ||||||||||||||
2,350 | Illinois Finance Authority, Revenue Bonds, Three Crowns Park Plaza, Series 2006A, 5.875%, 2/15/26 | 2/16 at 100.00 | N/R | 2,353,854 | ||||||||||||||
3,485 | Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30 | 8/18 at 100.00 | BBB+ | 3,563,308 | ||||||||||||||
3,915 | Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., Refunding Series 2007A, 5.250%, 5/01/34 | 5/17 at 100.00 | BBB+ | 3,681,079 | ||||||||||||||
255 | Illinois Housing Development Authority, Housing Finance Bonds, Series 2006K, 4.600%, 7/01/23 | 7/16 at 100.00 | AA | 257,440 | ||||||||||||||
4,000 | Illinois Housing Development Authority, Multifamily Housing Revenue Bonds, GNMA Collateralized – Lifelink Developments, Series 2006, 4.850%, 4/20/41 (Alternative Minimum Tax) (UB) (5) | 4/16 at 100.00 | AA+ | 3,969,920 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2012A: | ||||||||||||||||||
5,520 | 5.000%, 3/01/25 | 3/22 at 100.00 | A– | 5,750,736 | ||||||||||||||
5,910 | 5.000%, 3/01/26 | 3/22 at 100.00 | A– | 6,094,628 | ||||||||||||||
500 | 5.000%, 3/01/27 | 3/22 at 100.00 | A– | 507,455 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2013: | ||||||||||||||||||
1,390 | 5.250%, 7/01/28 | 7/23 at 100.00 | A– | 1,412,018 | ||||||||||||||
1,800 | 5.500%, 7/01/38 | 7/23 at 100.00 | A– | 1,810,584 | ||||||||||||||
5,000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois Series 2011, 5.000%, 6/15/28 | 6/21 at 100.00 | AAA | 5,342,450 | ||||||||||||||
960 | Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-1, 7.125%, 1/01/36 | 1/16 at 100.00 | N/R | 564,086 | ||||||||||||||
3,000 | Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-2, 5.500%, 1/01/30 – ACA Insured | 1/16 at 100.00 | CCC | 2,141,820 | ||||||||||||||
1,630 | Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel Revenue Bonds, Series 2005B, 5.250%, 1/01/36 | 1/16 at 100.00 | CCC | 638,585 | ||||||||||||||
1,260 | Markham, Illinois, Alternative Source Revenue Bonds, Series 2005A, 5.250%, 4/01/23 – RAAI Insured | 4/15 at 100.00 | N/R | 1,247,501 | ||||||||||||||
2,500 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2012A, 5.000%, 6/15/42 – NPFG Insured (Alternative Minimum Tax) | 6/22 at 100.00 | AAA | 2,513,775 | ||||||||||||||
13,000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1, 0.000%, 6/15/45 – AGM Insured | No Opt. Call | AAA | 1,980,290 | ||||||||||||||
10,000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/35 – AGM Insured | No Opt. Call | AAA | 2,751,000 | ||||||||||||||
8,025 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1996A, 0.000%, 12/15/21 – NPFG Insured | No Opt. Call | AA– | 5,822,057 | ||||||||||||||
845 | Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012, 4.750%, 10/01/29 | 10/22 at 100.00 | Baa1 | 836,592 | ||||||||||||||
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010: | ||||||||||||||||||
3,890 | 5.250%, 6/01/21 | No Opt. Call | A | 4,417,795 | ||||||||||||||
3,000 | 6.250%, 6/01/24 | 6/16 at 100.00 | A– | 3,258,330 | ||||||||||||||
4,450 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2001A, 6.000%, 7/01/27 – FGIC Insured | No Opt. Call | AA | 5,238,006 | ||||||||||||||
1,000 | Springfield, Sangamon County, Illinois, Special Service Area, Legacy Pointe Ad Valorem Tax Bonds, Series 2010, 7.500%, 3/01/32 | 3/17 at 102.00 | N/R | 1,018,560 | ||||||||||||||
University of Illinois, Auxiliary Facilities Systems Revenue Bonds, Series 2013A: | ||||||||||||||||||
10,000 | 4.000%, 4/01/30 | 4/23 at 100.00 | AA– | 9,535,500 | ||||||||||||||
5,000 | 4.000%, 4/01/32 | 4/23 at 100.00 | AA– | 4,612,350 |
Nuveen Investments | 41 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
$ | 7,405 | University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42 | 10/23 at 100.00 | A | $ | 7,566,873 | ||||||||||||
1,645 | Warren Township School District 121, Lake County, Gurnee, Illinois, General Obligation Bonds, Series 2004C, 5.500%, 3/01/22 (Pre-refunded 3/01/14) – AMBAC Insured | 3/14 at 101.00 | AA+ (4) | 1,690,830 | ||||||||||||||
230,534 | Total Illinois | 210,189,577 | ||||||||||||||||
Indiana – 3.5% | ||||||||||||||||||
425 | Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/32 | 4/14 at 100.00 | BB+ | 358,186 | ||||||||||||||
Delaware County Hospital Authority, Indiana, Hospital Revenue Bonds, Cardinal Health System, Series 2006: | ||||||||||||||||||
1,000 | 5.125%, 8/01/29 | 8/16 at 100.00 | A3 | 1,028,830 | ||||||||||||||
500 | 5.250%, 8/01/36 | 8/16 at 100.00 | A3 | 510,535 | ||||||||||||||
1,235 | Hendricks County Building Facilities Corporation, Indiana, First Mortgage Revenue Bonds, Series 2004, 5.500%, 7/15/24 (Pre-refunded 7/15/14) | 7/14 at 100.00 | Aa2 (4) | 1,281,671 | ||||||||||||||
Indiana Bond Bank, Special Program Gas Revenue Bonds, JP Morgan Ventures Energy Corporation Guaranteed, Series 2007A: | ||||||||||||||||||
3,185 | 5.250%, 10/15/18 | No Opt. Call | A2 | 3,610,643 | ||||||||||||||
5,215 | 5.250%, 10/15/20 | No Opt. Call | A2 | 5,948,698 | ||||||||||||||
Indiana Finance Authority, Educational Facilities Revenue Bonds, CFM-Northwest Indiana, LLC Project, Refunding Series 2013A: | ||||||||||||||||||
3,420 | 7.000%, 7/01/33 | 7/23 at 100.00 | BB | 3,455,397 | ||||||||||||||
6,465 | 7.250%, 7/01/43 | 7/23 at 100.00 | BB | 6,506,441 | ||||||||||||||
Indiana Finance Authority, Educational Facilities Revenue Bonds, Charter Facilities Management Indianapolis LLC Project, Series 2013A: | ||||||||||||||||||
2,280 | 7.000%, 7/01/33 | 7/23 at 100.00 | BB | 2,303,598 | ||||||||||||||
5,240 | 7.250%, 7/01/43 | 7/23 at 100.00 | BB | 5,273,588 | ||||||||||||||
1,400 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 6.625%, 10/01/29 | 10/19 at 100.00 | BB– | 1,402,436 | ||||||||||||||
1,000 | Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.125%, 3/01/30 | 3/20 at 100.00 | A– | 1,011,240 | ||||||||||||||
3,325 | Indiana Finance Authority, Hospital Revenue Bonds, King’s Daughters’ Hospital and Health Services, Series 2010, 5.000%, 8/15/20 | No Opt. Call | BBB+ | 3,314,127 | ||||||||||||||
3,000 | Indiana Finance Authority, Hospital Revenue Bonds, Marion General Hospital Project, Series 2012A, 5.000%, 7/01/36 | 7/21 at 100.00 | A+ | 2,985,690 | ||||||||||||||
9,000 | Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2012A, 5.000%, 6/01/32 – AGM Insured | 6/22 at 100.00 | BBB– | 8,580,600 | ||||||||||||||
5,115 | Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A, 5.000%, 7/01/48 (Alternative Minimum Tax) | 7/23 at 100.00 | BBB | 4,540,892 | ||||||||||||||
2,830 | Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Seriess 2007, 5.500%, 3/01/37 | 3/17 at 100.00 | A | 2,918,721 | ||||||||||||||
4,030 | Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – NPFG Insured | 1/17 at 100.00 | A+ | 4,057,606 | ||||||||||||||
645 | Indiana Transportation Finance Authority, Highway Revenue Bonds, Series 1992A, 6.800%, 12/01/16 | No Opt. Call | AA+ | 705,114 | ||||||||||||||
3,500 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, 5.500%, 1/01/38 – AGC Insured | 1/19 at 100.00 | AA– | 3,695,825 | ||||||||||||||
3,000 | Jasper County, Indiana Pollution Control (Northern Indiana Public Service) Commercial Paper, 5.600%, 11/01/16 – NPFG Insured | No Opt. Call | A | 3,324,930 | ||||||||||||||
Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A: | ||||||||||||||||||
1,530 | 5.000%, 4/01/26 | 4/22 at 100.00 | A3 | 1,606,852 | ||||||||||||||
1,400 | 5.000%, 4/01/27 | 4/22 at 100.00 | A3 | 1,454,516 | ||||||||||||||
1,560 | 5.000%, 4/01/29 | 4/22 at 100.00 | A3 | 1,592,713 | ||||||||||||||
700 | Lafayette, Indiana, Sewage Works Refunding Revenue Bonds, Series 2013, 5.000%, 1/01/23 | No Opt. Call | AA– | 815,717 | ||||||||||||||
Portage, Indiana, Economic Development Revenue Bonds, Ameriplex Project, Series 2006: | ||||||||||||||||||
1,000 | 5.000%, 7/15/23 | 7/16 at 100.00 | A | 1,023,280 | ||||||||||||||
775 | 5.000%, 1/15/27 | 7/16 at 100.00 | A | 779,224 | ||||||||||||||
5,000 | Vigo County Hospital Authority, Indiana, Hospital Revenue Bonds, Union Hospital, Inc., Series 2011, 8.000%, 9/01/41 | 9/21 at 100.00 | N/R | 5,762,250 | ||||||||||||||
77,775 | Total Indiana | 79,849,320.00 |
42 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Iowa – 1.1% | ||||||||||||||||||
$ | 2,275 | Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.250%, 6/15/36 | 6/20 at 100.00 | A2 | $ | 2,307,237 | ||||||||||||
500 | Iowa Finance Authority, Health Facilities Revenue Bonds, Iowa Health System, Series 2008A, 5.250%, 8/15/29 – AGC Insured | 8/19 at 100.00 | Aa3 | 531,320 | ||||||||||||||
1,490 | Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A, 5.500%, 7/01/25 | 7/16 at 100.00 | BB+ | 1,503,648 | ||||||||||||||
6,850 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Alcoa Inc. Project, Series 2012, 4.750%, 8/01/42 | 8/22 at 100.00 | BBB– | 5,823,665 | ||||||||||||||
Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Upper Iowa University Project, Series 2012: | ||||||||||||||||||
2,325 | 4.000%, 9/01/28 | 9/23 at 100.00 | BBB | 2,011,660 | ||||||||||||||
2,165 | 5.000%, 9/01/33 | 9/23 at 100.00 | BBB | 2,049,692 | ||||||||||||||
5,000 | 5.000%, 9/01/43 | 9/23 at 100.00 | BBB | 4,516,900 | ||||||||||||||
4,525 | Iowa Student Loan Liquidity Corporation Student Loan Revenue Bonds, Senior Lien Series 2011A-2, 5.750%, 12/01/28 (Alternative Minimum Tax) | 12/19 at 102.00 | A | 4,652,741 | ||||||||||||||
1,000 | Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-2, 5.500%, 12/01/25 | 12/19 at 100.00 | A1 | 1,038,910 | ||||||||||||||
26,130 | Total Iowa | 24,435,773 | ||||||||||||||||
Kansas – 1.0% | ||||||||||||||||||
500 | Kansas Department of Transportation, Highway Revenue Bonds, Series 2004B, 5.000%, 9/01/22 | 9/18 at 100.00 | AAA | 570,410 | ||||||||||||||
4,540 | Kansas Development Finance Authority Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C, 5.500%, 11/15/29 | 11/19 at 100.00 | AA | 4,965,716 | ||||||||||||||
6,000 | Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40 (UB) (5) | 1/20 at 100.00 | AA– | 6,043,920 | ||||||||||||||
3,135 | Kansas Development Finance Authority, Revenue Bonds, State Projects, Series 2005H, 5.000%, 5/01/32 – NPFG Insured | 5/15 at 100.00 | AA | 3,228,015 | ||||||||||||||
1,650 | Kansas State Power Pool, Electric Utility Revenue Bonds, Dogwood Energy Facility, Series 2012A, 5.000%, 12/01/25 | 12/22 at 100.00 | Baa1 | 1,730,751 | ||||||||||||||
2,000 | Olathe, Kansas, Senior Living Facility Revenue Bonds, Catholic Care Campus Santa Marta, Series 2006A, 6.000%, 11/15/38 | 11/16 at 100.00 | N/R | 1,939,520 | ||||||||||||||
2,685 | Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured | 1/17 at 100.00 | BB+ | 2,678,610 | ||||||||||||||
1,200 | Overland Park Transportation Development District, Kansas, Sales Tax Revenue Bonds, Oak Park Mall Project, Series 2010, 5.900%, 4/01/32 | 4/20 at 100.00 | BBB | 1,263,984 | ||||||||||||||
1,270 | Wyandotte County-Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Refunding Series 2012A, 5.000%, 9/01/28 | 9/22 at 100.00 | A+ | 1,377,429 | ||||||||||||||
22,980 | Total Kansas | 23,798,355.00 | ||||||||||||||||
Kentucky – 0.8% | ||||||||||||||||||
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro Medical Health System, Series 2010A: | ||||||||||||||||||
2,500 | 5.750%, 6/01/25 | 6/20 at 100.00 | BBB+ | 2,715,775 | ||||||||||||||
2,000 | 6.000%, 6/01/30 | 6/20 at 100.00 | BBB+ | 2,128,780 | ||||||||||||||
1,500 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2009A, 5.375%, 8/15/24 | 8/19 at 100.00 | AA– | 1,660,920 | ||||||||||||||
2,840 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Tender Option Bond Trust 1068, 17.272%, 8/15/42 (IF) (5) | 8/21 at 100.00 | A+ | 2,937,440 | ||||||||||||||
1,405 | Louisville-Jefferson County Metropolitan Government, Kentucky, Health Facilities Revenue Bonds, Jewish Hospital & Saint Mary’s HealthCare Inc. Project, Series 2008, 6.125%, 2/01/37 (Pre-refunded 2/01/18) | 2/18 at 100.00 | Aaa | 1,708,845 | ||||||||||||||
1,000 | Paducah, Kentucky, Electric Board Revenue Bonds, Series 2009A, 5.250%, 10/01/35 – AGC Insured | 4/19 at 100.00 | A3 | 1,064,860 | ||||||||||||||
5,000 | Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011, 6.500%, 3/01/41 | 3/21 at 100.00 | A3 | 5,453,700 | ||||||||||||||
16,245 | Total Kentucky | 17,670,320 |
Nuveen Investments | 43 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Louisiana – 2.5% | ||||||||||||||||||
$ | 3,020 | Lafayette City and Parish, Louisiana, Utilities Revenue Bonds, Series 2004, 5.250%, 11/01/22 (Pre-refunded 11/01/14) – NPFG Insured | 11/14 at 100.00 | A+ (4) | $ | 3,173,265 | ||||||||||||
3,605 | Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006B, 5.000%, 6/01/21 – AMBAC Insured | 6/16 at 100.00 | A– | 3,904,576 | ||||||||||||||
1,000 | Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32 | 11/17 at 100.00 | BBB | 1,067,030 | ||||||||||||||
5,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Hotel LLC Project, Series 2007A, 6.750%, 12/15/37 (6) | 12/17 at 100.00 | N/R | 2,100,750 | ||||||||||||||
1,000 | Louisiana Public Facilities Authority, Revenue Bonds, Belle Chasse Educational Foundation Project, Series 2011, 6.750%, 5/01/41 | 5/21 at 100.00 | BBB | 1,073,920 | ||||||||||||||
2,000 | Louisiana Public Facilities Authority, Revenue Bonds, Christus Health, Refunding Series 2009A, 6.000%, 7/01/29 | 7/19 at 100.00 | A+ | 2,158,300 | ||||||||||||||
1,130 | Louisiana Public Facilities Authority, Revenue Bonds, Christus Health, Series 2008B, 5.750%, 7/01/18 – AGC Insured | No Opt. Call | AA– | 1,204,987 | ||||||||||||||
27,900 | Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36 (Alternative Minimum Tax) | 7/23 at 100.00 | N/R | 25,817,513 | ||||||||||||||
2,405 | Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured | 7/14 at 100.00 | A (4) | 2,481,984 | ||||||||||||||
1,500 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A, 5.250%, 5/15/38 | 5/17 at 100.00 | Baa1 | 1,505,970 | ||||||||||||||
10,000 | Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, 4.750%, 5/01/39 – AGM Insured (UB) | 5/16 at 100.00 | Aa1 | 10,035,000 | ||||||||||||||
3,000 | St John Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation, Series 2007A, 5.125%, 6/01/37 | 6/17 at 100.00 | Baa1 | 2,997,840 | ||||||||||||||
61,560 | Total Louisiana | 57,521,135.00 | ||||||||||||||||
Maine – 0.8% | ||||||||||||||||||
Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011: | ||||||||||||||||||
2,000 | 6.750%, 7/01/36 | 7/21 at 100.00 | BBB– | 2,121,120 | ||||||||||||||
10,390 | 6.750%, 7/01/41 | 7/21 at 100.00 | BBB– | 10,966,541 | ||||||||||||||
1,665 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2010A, 5.000%, 7/01/40 | 7/20 at 100.00 | AA | 1,703,728 | ||||||||||||||
Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
700 | 5.000%, 7/01/25 | 7/23 at 100.00 | BBB+ | 757,393 | ||||||||||||||
460 | 5.000%, 7/01/26 | 7/23 at 100.00 | BBB+ | 490,484 | ||||||||||||||
1,000 | 5.000%, 7/01/27 | 7/23 at 100.00 | BBB+ | 1,052,410 | ||||||||||||||
16,215 | Total Maine | 17,091,676 | ||||||||||||||||
Maryland – 0.2% | ||||||||||||||||||
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A: | ||||||||||||||||||
1,050 | 5.250%, 9/01/27 – SYNCORA GTY Insured | 9/16 at 100.00 | BB+ | 1,015,844 | ||||||||||||||
1,750 | 5.250%, 9/01/28 – SYNCORA GTY Insured | 9/16 at 100.00 | BB+ | 1,673,403 | ||||||||||||||
1,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park Public Charter School Issue, Series 2010, 5.750%, 7/01/30 | 7/20 at 100.00 | BBB– | 993,560 | ||||||||||||||
3,800 | Total Maryland | 3,682,807 | ||||||||||||||||
Massachusetts – 1.6% | ||||||||||||||||||
4,350 | Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.750%, 10/15/37 | 10/17 at 100.00 | N/R | 4,414,380 | ||||||||||||||
6,750 | Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012C, 5.250%, 11/01/42 (Alternative Minimum Tax) | 11/17 at 100.00 | BB+ | 5,949,248 | ||||||||||||||
1,035 | Massachusetts Development Finance Agency, Revenue Bonds, Loomis Communities, Series 2013A, 4.875%, 1/01/24 | 1/23 at 100.00 | BBB– | 1,032,061 | ||||||||||||||
1,000 | Massachusetts Development Finance Agency, Senior Living Facility Revenue Bonds, The Groves in Lincoln Issue, Series 2009A, 7.875%, 6/01/44 (6), (7) | 6/19 at 100.00 | N/R | 88,299 | ||||||||||||||
260 | Massachusetts Development Finance Agency, Senior Living Facility Revenue Bonds, The Groves in Lincoln Issue, Series 2009B-2, 6.250%, 6/01/14 (6), (7) | 12/13 at 100.00 | N/R | 26,179 |
44 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Massachusetts (continued) | ||||||||||||||||||
$ | 730 | Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 5.500%, 1/01/23 | 1/20 at 100.00 | AA | $ | 763,646 | ||||||||||||
6,665 | Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Tender Option Bond Trust 3627, 13.646%, 7/01/29 (IF) | 7/19 at 100.00 | AA | 7,259,651 | ||||||||||||||
4,700 | Massachusetts Health and Educational Facilities Authority Revenue Bonds, Quincy Medical Center Issue, Series 2008A, 6.250%, 1/15/28 (6) | 1/18 at 100.00 | N/R | 16,497 | ||||||||||||||
500 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital, Series 2005E, 5.000%, 8/15/25 – RAAI Insured | 8/15 at 100.00 | N/R | 462,115 | ||||||||||||||
4,550 | Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39 | 7/19 at 100.00 | BBB | 4,716,257 | ||||||||||||||
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A: | ||||||||||||||||||
1,260 | 5.500%, 1/01/22 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 1,259,937 | ||||||||||||||
700 | 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 644,028 | ||||||||||||||
8,000 | Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%, 1/01/23 (Pre-refunded 1/01/14) – FGIC Insured | 1/14 at 100.00 | A1 (4) | 8,068,400 | ||||||||||||||
2,335 | Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Tender Option Bond Trust 2989, 13.414%, 8/01/38 (IF) | 8/19 at 100.00 | AAA | 2,873,544 | ||||||||||||||
42,835 | Total Massachusetts | 37,574,242 | ||||||||||||||||
Michigan – 2.5% | ||||||||||||||||||
12,130 | Bay City, Bay County, Michigan, Unlimited Tax General Street Improvement Bonds, Series 1991, 0.000%, 6/01/21 – AMBAC Insured | No Opt. Call | A+ | 8,671,737 | ||||||||||||||
8,575 | Charlotte Public School District, Easton County, Michigan, General Obligation Bonds, Series 2005, 5.000%, 5/01/29 – NPFG Insured | 5/15 at 100.00 | Aa2 | 8,904,366 | ||||||||||||||
1,250 | Detroit, Michigan, Distributable State Aid General Obligation Bonds, Limited Tax Series 2010, 5.000%, 11/01/30 | 11/20 at 100.00 | AA | 1,200,200 | ||||||||||||||
5,595 | Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – NPFG Insured | 7/15 at 100.00 | A | 5,052,789 | ||||||||||||||
800 | Jackson County Hospital Finance Authority, Michigan, Hospital Revenue Bonds, W.A. Foote Memorial Hospital, Refunding Series 2006B-2, 5.000%, 6/01/27 – AGM Insured | 6/20 at 100.00 | AA– | 845,048 | ||||||||||||||
7,665 | Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Methodist Hospital, Refunding Series 2003A, 5.000%, 5/15/26 – AGM Insured | 5/18 at 100.00 | AA– | 8,059,901 | ||||||||||||||
3,040 | Kalkaska County Hospital Authority, Michigan, Hospital Revenue Bonds, Series 2007, 5.375%, 5/01/17 | No Opt. Call | A– | 3,285,024 | ||||||||||||||
500 | Kent Hospital Finance Authority, Michigan, Revenue Bonds, Spectrum Health System, Series 2008A, 5.500%, 1/15/47 (Mandatory put 1/15/15) | No Opt. Call | AA | 528,670 | ||||||||||||||
Michigan Finance Authority, Public School Academy Limited Obligation Revenue and Refunding Bonds, Detroit Service Learning Academy Project, Series 2011: | ||||||||||||||||||
685 | 6.000%, 10/01/21 | No Opt. Call | BB+ | 719,250 | ||||||||||||||
435 | 7.000%, 10/01/31 | 10/21 at 100.00 | BB+ | 456,206 | ||||||||||||||
1,000 | 7.000%, 10/01/36 | 10/21 at 100.00 | BB+ | 1,036,110 | ||||||||||||||
915 | Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Creative Montessori Academy Project, Series 2011, 6.125%, 5/01/21 | 5/18 at 100.00 | BBB– | 944,134 | ||||||||||||||
1,550 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2010A, 5.000%, 10/01/35 | 10/20 at 100.00 | AA | 1,565,268 | ||||||||||||||
1,250 | Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Chandler Park Academy Project, Series 2008, 6.500%, 11/01/35 | 11/15 at 100.00 | BBB | 1,242,775 | ||||||||||||||
1,370 | Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, David Ellis Academy-West Charter School Project, Series 2007, 5.875%, 6/01/37 | 6/17 at 100.00 | N/R | 1,229,424 | ||||||||||||||
Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series 2011-I-A: | ||||||||||||||||||
750 | 5.375%, 10/15/41 | 10/21 at 100.00 | Aa3 | 766,530 | ||||||||||||||
2,000 | 5.500%, 10/15/45 | 10/21 at 100.00 | Aa3 | 2,063,600 | ||||||||||||||
Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009: | ||||||||||||||||||
500 | 5.625%, 11/15/29 | 11/19 at 100.00 | A | 515,975 | ||||||||||||||
1,480 | 5.750%, 11/15/39 | 11/19 at 100.00 | A | 1,515,920 | ||||||||||||||
1,635 | Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2006A, 5.000%, 12/01/31 | 12/16 at 100.00 | Aa2 | 1,657,285 |
Nuveen Investments | 45 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Michigan (continued) | ||||||||||||||||||
$ | 375 | Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2006A, 5.000%, 12/01/31 (Pre-refunded 12/01/16) | 12/16 at 100.00 | Aa2 (4) | $ | 424,916 | ||||||||||||
6,010 | Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.000%, 9/01/29 | 9/18 at 100.00 | A1 | 7,201,603 | ||||||||||||||
59,510 | Total Michigan | 57,886,731 | ||||||||||||||||
Minnesota – 1.5% | ||||||||||||||||||
1,000 | Duluth Housing & Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A, 5.875%, 11/01/40 | 11/20 at 100.00 | BBB– | 979,460 | ||||||||||||||
1,000 | Faribault, Minnesota, Housing Revenue Bonds, Faribault Senior Living LLC Project, Series 2010, 7.000%, 5/01/45 | 5/18 at 102.00 | N/R | 994,960 | ||||||||||||||
5,000 | Lakeville Independent School District 194, Dakota County, Minnesota, General Obligation Bonds, Refunding Series 2012D, 5.000%, 2/01/20 | No Opt. Call | Aa2 | 5,932,600 | ||||||||||||||
Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A: | ||||||||||||||||||
3,000 | 6.375%, 11/15/23 | 11/18 at 100.00 | A | 3,525,090 | ||||||||||||||
3,000 | 6.625%, 11/15/28 | 11/18 at 100.00 | A | 3,506,550 | ||||||||||||||
3,000 | Minneapolis, Minnesota, Recovery Zone Facility Revenue Bonds, Mozaic Parking, LLC Project, Series 2010A, 8.500%, 1/01/41 | 1/21 at 100.00 | N/R | 3,045,060 | ||||||||||||||
95 | Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2000A, 6.375%, 11/15/29 | 11/13 at 100.00 | A | 95,331 | ||||||||||||||
2,995 | Monticello-Big Lake Community Hospital District, Minnesota, Gross Revenue Health Care Facilities Bonds, Series 2003C, 6.200%, 12/01/22 | 12/13 at 100.00 | N/R | 2,996,887 | ||||||||||||||
1,000 | Shakopee, Minnesota, Health Care Facilities Revenue Bonds, Saint Francis Regional Medical Center, Series 2004, 5.250%, 9/01/34 | 9/14 at 100.00 | A– | 1,002,070 | ||||||||||||||
St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005: | ||||||||||||||||||
4,500 | 6.000%, 11/15/25 | 11/15 at 100.00 | BBB– | 4,657,275 | ||||||||||||||
4,000 | 6.000%, 11/15/30 | 11/15 at 100.00 | BBB– | 4,087,000 | ||||||||||||||
2,000 | 6.000%, 11/15/35 | 11/15 at 100.00 | BBB– | 2,036,520 | ||||||||||||||
2,240 | Wayzata, Minnesota, Senior Housing Revenue Bonds, Folkestone Senior Living Community, Series 2012A, 6.000%, 5/01/47 | 5/19 at 102.00 | N/R | 2,263,766 | ||||||||||||||
32,830 | Total Minnesota | 35,122,569 | ||||||||||||||||
Mississippi – 0.2% | ||||||||||||||||||
5,000 | Mississippi Development Bank, Special Obligation Bonds, Gulfport Water and Sewer System Project, Series 2005, 5.250%, 7/01/24 – AGM Insured | No Opt. Call | AA– | 5,562,000 | ||||||||||||||
Missouri – 1.4% | ||||||||||||||||||
3,185 | Bi-State Development Agency, Missouri, Bi-State MetroLink District, St Clair County Metrolink Extension Project Bonds, Refunding Series 2006, 5.250%, 7/01/27 – AGM Insured | No Opt. Call | AA– | 3,579,399 | ||||||||||||||
2,540 | Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior Services – Heisinger Project, Series 2004, 5.500%, 2/01/35 | 2/14 at 100.00 | BBB+ | 2,539,949 | ||||||||||||||
2,470 | Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36 | 10/19 at 100.00 | A– | 2,582,607 | ||||||||||||||
1,250 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 6.000%, 2/01/41 | 2/21 at 100.00 | BBB+ | 1,302,363 | ||||||||||||||
4,455 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Tender Option Bond Trust 3604, 13.961%, 5/15/17 (IF) | No Opt. Call | AAA | 5,262,914 | ||||||||||||||
Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A: | ||||||||||||||||||
5,000 | 0.000%, 7/15/31 – AGC Insured | No Opt. Call | AA– | 1,956,550 | ||||||||||||||
7,000 | 0.000%, 7/15/32 – AGC Insured | No Opt. Call | AA– | 2,574,250 | ||||||||||||||
6,250 | 0.000%, 7/15/33 – AGC Insured | No Opt. Call | AA– | 2,162,125 | ||||||||||||||
7,000 | 0.000%, 7/15/34 – AGC Insured | No Opt. Call | AA– | 2,276,120 | ||||||||||||||
6,000 | 0.000%, 7/15/35 – AGC Insured | No Opt. Call | AA– | 1,836,300 | ||||||||||||||
2,000 | 0.000%, 7/15/36 – AGC Insured | No Opt. Call | AA– | 577,040 | ||||||||||||||
1,729 | Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment Project, Series 2008A, 6.300%, 8/22/26 | 2/14 at 100.00 | N/R | 1,515,953 |
46 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Missouri (continued) | ||||||||||||||||||
$ | 1,437 | Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A, 6.500%, 1/23/28 | 1/14 at 100.00 | N/R | $ | 985,466 | ||||||||||||
2,400 | St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Chesterfield, Series 2012, 5.000%, 9/01/42 | No Opt. Call | BBB– | 2,100,672 | ||||||||||||||
52,716 | Total Missouri | 31,251,708 | ||||||||||||||||
Montana – 0.1% | ||||||||||||||||||
2,500 | Montana Facilities Finance Authority, Revenue Bonds, Saint John’s Lutheran Ministries Project, Series 2006A, 6.125%, 5/15/36 | 5/16 at 100.00 | N/R | 2,476,575 | ||||||||||||||
Nebraska – 0.4% | ||||||||||||||||||
4,000 | Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/42 | 9/22 at 100.00 | A | 3,919,120 | ||||||||||||||
1,320 | Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Refunding Series 2012A, 5.000%, 4/01/32 | 4/22 at 100.00 | A | 1,372,338 | ||||||||||||||
2,750 | Nebraska Public Power District, General Revenue Bonds, Series 2008B, 5.000%, 1/01/20 | 1/18 at 100.00 | A1 | 3,130,133 | ||||||||||||||
8,070 | Total Nebraska | 8,421,591 | ||||||||||||||||
Nevada – 0.8% | ||||||||||||||||||
90 | Clark County, Nevada, Industrial Development Revenue Bonds, Southwest Gas Corporation, Senior Lien Series 2006A, 4.750%, 9/01/36 – FGIC Insured (Alternative Minimum Tax) | 9/16 at 100.00 | A | 86,242 | ||||||||||||||
2,000 | Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.000%, 7/01/30 | 1/20 at 100.00 | A+ | 2,081,600 | ||||||||||||||
2,000 | Clark County, Nevada, Subordinate Lien Airport Revenue Bonds, Series 2004A-2, 5.125%, 7/01/25 – FGIC Insured | 7/14 at 100.00 | A+ | 2,052,620 | ||||||||||||||
2,100 | Henderson Redevelopment Agency, Nevada, Senior Lien Tax Allocation Bonds, Series 2002A, 5.250%, 10/01/25 – AMBAC Insured | 4/14 at 100.00 | BBB+ | 2,100,063 | ||||||||||||||
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A: | ||||||||||||||||||
2,000 | 7.500%, 6/15/23 | 6/19 at 100.00 | BBB– | 2,202,180 | ||||||||||||||
1,500 | 8.000%, 6/15/30 | 6/19 at 100.00 | BBB– | 1,618,260 | ||||||||||||||
2,500 | Las Vegas Valley Water District, Nevada, Limited Tax General Obligation Bonds, Water & Refunding Series 2011C, 5.000%, 6/01/38 | 6/21 at 100.00 | AA+ | 2,568,150 | ||||||||||||||
Las Vegas, Nevada, Special Improvement District 607 Providence, Local Improvement Refunding Bonds, Series 2013: | ||||||||||||||||||
160 | 4.000%, 6/01/19 | No Opt. Call | N/R | 158,286 | ||||||||||||||
135 | 4.000%, 6/01/20 | No Opt. Call | N/R | 131,790 | ||||||||||||||
1,000 | 4.000%, 6/01/21 | No Opt. Call | N/R | 959,890 | ||||||||||||||
450 | 5.000%, 6/01/23 | No Opt. Call | N/R | 452,750 | ||||||||||||||
200 | 4.250%, 6/01/24 | 6/23 at 103.00 | N/R | 187,312 | ||||||||||||||
Sparks Local Improvement District 3, Legends at Sparks Marina, Nevada, Limited Obligation Improvement Bonds, Series 2008: | ||||||||||||||||||
995 | 6.500%, 9/01/20 | 9/18 at 100.00 | N/R | 1,049,128 | ||||||||||||||
1,900 | 6.750%, 9/01/27 | 9/18 at 100.00 | N/R | 1,905,966 | ||||||||||||||
410 | Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011, 5.000%, 7/01/32 | 7/21 at 100.00 | AA | 425,297 | ||||||||||||||
17,440 | Total Nevada | 17,979,534.00 | ||||||||||||||||
New Hampshire – 0.4% | ||||||||||||||||||
3,500 | New Hampshire Business Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2002, 5.200%, 5/01/27 (Alternative Minimum Tax) | 5/16 at 101.00 | BBB | 3,593,660 | ||||||||||||||
800 | New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds, Speare Memorial Hospital, Series 2004, 5.875%, 7/01/34 (Pre-refunded 7/01/15) | 7/15 at 100.00 | N/R (4) | 867,704 | ||||||||||||||
1,250 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Covenant Health Systems Obligated Group Issue, Series 2004, 5.375%, 7/01/24 | 7/14 at 100.00 | A | 1,266,200 | ||||||||||||||
3,305 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Tender Option Bond Trust 09-7W, 14.186%, 6/01/39 (IF) (5) | 6/19 at 100.00 | AA+ | 4,188,955 | ||||||||||||||
8,855 | Total New Hampshire | 9,916,519 |
Nuveen Investments | 47 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New Jersey – 2.5% | ||||||||||||||||||
$ | 4,510 | Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42 | 2/23 at 100.00 | BBB | $ | 4,530,475 | ||||||||||||
1,335 | Manalapan-Englishtown Regional Board of Education, New Jersey, General Obligation Bonds, Series 2004, 5.750%, 12/01/21 – FGIC Insured | No Opt. Call | Aa3 | 1,682,661 | ||||||||||||||
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series 2004A: | ||||||||||||||||||
1,775 | 5.000%, 7/01/22 – NPFG Insured | 7/14 at 100.00 | A | 1,824,931 | ||||||||||||||
1,775 | 5.000%, 7/01/23 – NPFG Insured | 7/14 at 100.00 | A | 1,823,120 | ||||||||||||||
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999: | ||||||||||||||||||
1,000 | 5.125%, 9/15/23 (Alternative Minimum Tax) | 3/14 at 100.00 | B | 956,970 | ||||||||||||||
1,650 | 5.250%, 9/15/29 (Alternative Minimum Tax) | 9/22 at 101.00 | B | 1,524,336 | ||||||||||||||
835 | New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A, 5.750%, 6/01/31 | 6/20 at 100.00 | Baa3 | 893,375 | ||||||||||||||
2,015 | New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 6.250%, 12/01/18 | No Opt. Call | N/R | 2,513,430 | ||||||||||||||
600 | New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 7.500%, 12/01/32 (Pre-refunded 6/01/19) | 6/19 at 100.00 | N/R (4) | 794,208 | ||||||||||||||
1,335 | New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust PA-4643, 19.917%, 6/01/30 (IF) (5) | 6/19 at 100.00 | AA | 1,671,794 | ||||||||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A: | ||||||||||||||||||
2,185 | 5.250%, 12/15/20 | No Opt. Call | A+ | 2,582,364 | ||||||||||||||
7,000 | 5.500%, 12/15/23 | No Opt. Call | A+ | 8,379,000 | ||||||||||||||
7,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2013A, 5.000%, 12/15/19 | No Opt. Call | A+ | 8,195,880 | ||||||||||||||
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A: | ||||||||||||||||||
3,000 | 5.000%, 1/01/21 – AGM Insured | 1/15 at 100.00 | AA– | 3,136,110 | ||||||||||||||
3,315 | 5.000%, 1/01/25 – AGM Insured | 1/15 at 100.00 | AA– | 3,453,932 | ||||||||||||||
3,175 | 5.250%, 1/01/26 – AGM Insured | No Opt. Call | AA– | 3,730,149 | ||||||||||||||
1,000 | Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 5.750%, 12/01/30 – AGC Insured | 12/19 at 100.00 | A3 | 1,094,200 | ||||||||||||||
3,470 | North Hudson Sewerage Authority, New Jersey, Gross Revenue Senior Lien Lease Certificates, Series 2012A, 5.000%, 6/01/23 | 6/22 at 100.00 | A | 3,975,926 | ||||||||||||||
2,000 | Passaic Valley Water Commission, New Jersey, Water System Revenue Bonds, Series 2003, 5.000%, 12/15/19 – AGM Insured | No Opt. Call | AA– | 2,355,560 | ||||||||||||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A: | ||||||||||||||||||
805 | 4.625%, 6/01/26 | 6/17 at 100.00 | B1 | 695,311 | ||||||||||||||
2,000 | 4.750%, 6/01/34 | 6/17 at 100.00 | B2 | 1,455,880 | ||||||||||||||
51,780 | Total New Jersey | 57,269,612 | ||||||||||||||||
New Mexico – 0.4% | ||||||||||||||||||
4,790 | Clayton, New Mexico, Appropriation Debt, Jail Project, Series 2006, 4.650%, 11/01/29 – CIFG Insured | 11/16 at 100.00 | BBB+ | 4,484,446 | ||||||||||||||
1,415 | New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, Haverland Carter Lifestyle Group, Series 2013, 5.000%, 7/01/32 | 7/22 at 100.00 | BBB– | 1,272,679 | ||||||||||||||
3,000 | New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, La Vida LLena Project, Series 2010A, 5.875%, 7/01/30 | 7/20 at 100.00 | BBB– | 3,034,290 | ||||||||||||||
825 | The Trails Public Improvement District, Albuquerque, New Mexico, Special Levy Revenue Bonds, Series 2008, 7.500%, 10/01/18 | No Opt. Call | N/R | 832,475 | ||||||||||||||
10,030 | Total New Mexico | 9,623,890 | ||||||||||||||||
New York – 3.4% | ||||||||||||||||||
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009: | ||||||||||||||||||
1,100 | 6.000%, 7/15/30 | 1/20 at 100.00 | BBB– | 1,162,172 | ||||||||||||||
7,745 | 6.375%, 7/15/43 | 1/20 at 100.00 | BBB– | 8,217,445 | ||||||||||||||
1,880 | Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore Hospital, Series 2004, 5.000%, 8/01/23 – FGIC Insured | 2/15 at 100.00 | A | 1,964,074 |
48 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New York (continued) | ||||||||||||||||||
$ | 4,955 | Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.500%, 7/01/43 – AGM Insured | 7/20 at 100.00 | AA– | $ | 5,216,921 | ||||||||||||
1,665 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series 2005F, 5.000%, 3/15/24 – AMBAC Insured | 3/15 at 100.00 | AAA | 1,754,694 | ||||||||||||||
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender Option Bond Trust 3518: | ||||||||||||||||||
2,000 | 13.543%, 2/15/33 (IF) | 2/19 at 100.00 | AAA | 2,251,160 | ||||||||||||||
2,335 | 13.532%, 2/15/33 (IF) | 2/19 at 100.00 | AAA | 2,627,949 | ||||||||||||||
400 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47 | 2/21 at 100.00 | A | 424,480 | ||||||||||||||
4,055 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%, 2/15/47 – NPFG Insured | 2/17 at 100.00 | A | 3,841,666 | ||||||||||||||
3,000 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 6.000%, 5/01/33 | 5/19 at 100.00 | A– | 3,422,580 | ||||||||||||||
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A: | ||||||||||||||||||
1,000 | 5.000%, 5/01/36 – AGM Insured | 5/21 at 100.00 | AA– | 1,025,770 | ||||||||||||||
1,980 | 5.000%, 5/01/38 | 5/21 at 100.00 | A– | 2,012,175 | ||||||||||||||
4,600 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005F, 5.000%, 11/15/30 | 11/15 at 100.00 | A | 4,687,768 | ||||||||||||||
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007: | ||||||||||||||||||
3,000 | 5.750%, 10/01/37 (8) | 10/17 at 100.00 | N/R | 1,259,610 | ||||||||||||||
1,000 | 5.875%, 10/01/46 (9) | 10/17 at 102.00 | N/R | 419,870 | ||||||||||||||
1,000 | New York City Industrial Development Agency, New York, Liberty Revenue Bonds, IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35 | 9/15 at 100.00 | BBB | 955,780 | ||||||||||||||
715 | New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured | 3/19 at 100.00 | AA– | 820,076 | ||||||||||||||
1,500 | New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, British Airways PLC, Series 1998, 5.250%, 12/01/32 (Alternative Minimum Tax) | 12/13 at 100.00 | BB | 1,376,295 | ||||||||||||||
1,000 | New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Tender Option Bond Trust 3484, 18.252%, 6/15/33 (IF) | 6/19 at 100.00 | AA+ | 1,166,720 | ||||||||||||||
5,000 | New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/26 – FGIC Insured | 4/15 at 100.00 | AA | 5,292,100 | ||||||||||||||
5 | New York City, New York, General Obligation Bonds, Series 1991B, 7.000%, 2/01/18 – AMBAC Insured | 2/14 at 100.00 | AA | 5,025 | ||||||||||||||
11,560 | New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44 | 11/21 at 100.00 | A+ | 11,681,727 | ||||||||||||||
1,035 | New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B, 5.000%, 4/01/24 – AMBAC Insured | 10/15 at 100.00 | AA | 1,110,979 | ||||||||||||||
2,125 | New York State Urban Development Corporation, Special Project Revenue Bonds, University Facilities Grants, Series 1995, 5.500%, 1/01/19 | No Opt. Call | AA– | 2,476,836 | ||||||||||||||
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2004A-1: | ||||||||||||||||||
2,655 | 5.000%, 3/15/24 (Pre-refunded 3/15/14) – FGIC Insured | 3/14 at 100.00 | AAA | 2,703,215 | ||||||||||||||
1,515 | 5.000%, 3/15/25 (Pre-refunded 3/15/14) – FGIC Insured | 3/14 at 100.00 | AAA | 1,542,512 | ||||||||||||||
1,000 | 5.000%, 3/15/26 (Pre-refunded 3/15/14) – FGIC Insured | 3/14 at 100.00 | AAA | 1,018,160 | ||||||||||||||
3,500 | Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 | No Opt. Call | BB+ | 3,106,320 | ||||||||||||||
795 | Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42 | 12/20 at 100.00 | BBB | 855,134 | ||||||||||||||
1,170 | Suffolk County Economic Development Corporation, New York, Revenue Refunding Bonds, Peconic Landing At Southold, Inc. Project, Series 2010, 5.875%, 12/01/30 | 12/20 at 100.00 | BBB– | 1,232,876 | ||||||||||||||
560 | Tobacco Settlement Financing Corporation, New York, Asset-Backed Revenue Bonds, State Contingency Contract Secured, Series 2011B, 5.000%, 6/01/18 | No Opt. Call | AA– | 651,958 | ||||||||||||||
1,400 | Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010B, 5.000%, 9/01/20 | No Opt. Call | A– | 1,632,554 | ||||||||||||||
77,250 | Total New York | 77,916,601.00 |
Nuveen Investments | 49 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
North Carolina – 0.8% | ||||||||||||||||||
$ | 2,000 | Buncombe County, North Carolina, Project Development Financing Revenue Bonds, Woodfin Downtown Corridor Development, Series 2008, 6.750%, 8/01/24 | 8/18 at 100.00 | N/R | $ | 1,891,720 | ||||||||||||
1,780 | Charlotte, North Carolina, Water and Sewer System Refunding Bonds, Tender Option Bond Trust 43W, 13.449%, 7/01/38 (IF) (5) | 7/20 at 100.00 | AAA | 2,118,289 | ||||||||||||||
1,000 | Columbus County Industrial Facilities and Pollution Control Financing Authority, North Carolina, Environmental Improvement Revenue Bonds, International Paper Company Project, Series 2007A, 4.625%, 3/01/27 | 3/17 at 100.00 | BBB | 964,700 | ||||||||||||||
North Carolina Capital Facilities Financing Agency, Revenue Bonds, Duke University, Series 2008, Tender Option Bonds Trust 3248: | ||||||||||||||||||
1,920 | 27.443%, 10/01/21 (IF) | 10/16 at 100.00 | AA+ | 3,326,842 | ||||||||||||||
585 | 27.662%, 10/01/34 (IF) | 10/15 at 100.00 | AA+ | 977,968 | ||||||||||||||
1,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2008C, 6.750%, 1/01/24 | 1/19 at 100.00 | A– | 1,180,420 | ||||||||||||||
1,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 1993B, 6.000%, 1/01/22 – FGIC Insured | No Opt. Call | Baa1 | 1,225,570 | ||||||||||||||
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Lutheran Services for the Aging, Series 2012A: | ||||||||||||||||||
1,000 | 5.000%, 3/01/37 | No Opt. Call | N/R | 898,320 | ||||||||||||||
500 | 5.000%, 3/01/42 | No Opt. Call | N/R | 442,120 | ||||||||||||||
1,580 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Presbyterian Homes, Series 2006B, 5.200%, 10/01/21 | 10/16 at 100.00 | N/R | 1,580,348 | ||||||||||||||
1,160 | North Carolina Medical Care Commission, Health Care Facilities Revenue Refunding Bonds, Cape Fear Valley Health System, Series 2012A, 5.000%, 10/01/24 | 10/22 at 100.00 | A– | 1,258,008 | ||||||||||||||
2,000 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 – AGC Insured | 1/19 at 100.00 | AA– | 2,155,020 | ||||||||||||||
15,525 | Total North Carolina | 18,019,325 | ||||||||||||||||
North Dakota – 0.2% | ||||||||||||||||||
2,585 | Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Refunding Series 2012A, 5.000%, 7/01/38 | 7/22 at 100.00 | BBB+ | 2,585,724 | ||||||||||||||
2,100 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012, 4.000%, 12/01/27 | 12/21 at 100.00 | A– | 2,013,879 | ||||||||||||||
4,685 | Total North Dakota | 4,599,603 | ||||||||||||||||
Ohio – 3.4% | ||||||||||||||||||
2,435 | American Municipal Power Ohio Inc., Genoa Village, Electric System Improvement Revenue Bonds, Series 2004, 5.250%, 2/15/24 – AGC Insured | 2/14 at 100.00 | AA– | 2,448,709 | ||||||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2: | ||||||||||||||||||
1,130 | 5.125%, 6/01/24 | 6/17 at 100.00 | B– | 965,811 | ||||||||||||||
1,420 | 5.875%, 6/01/30 | 6/17 at 100.00 | B | 1,156,604 | ||||||||||||||
3,990 | 5.750%, 6/01/34 | 6/17 at 100.00 | B | 3,124,170 | ||||||||||||||
4,145 | 5.875%, 6/01/47 | 6/17 at 100.00 | B | 3,219,877 | ||||||||||||||
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010: | ||||||||||||||||||
3,000 | 5.250%, 11/01/29 | 11/20 at 100.00 | BBB+ | 3,073,200 | ||||||||||||||
2,000 | 5.750%, 11/01/40 | 11/20 at 100.00 | BBB+ | 2,068,000 | ||||||||||||||
1,000 | Cleveland Municipal School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2004, 5.250%, 12/01/23 (Pre-refunded 6/01/14) – AGM Insured | 6/14 at 100.00 | AA (4) | 1,029,820 | ||||||||||||||
2,500 | Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 2004A, 5.000%, 12/01/23 (Pre-refunded 6/01/14) – AMBAC Insured | 6/14 at 100.00 | N/R (4) | 2,569,725 | ||||||||||||||
3,040 | Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26 | 7/21 at 100.00 | BBB– | 3,186,741 | ||||||||||||||
4,420 | Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, Tender Option Bond Trust 4152, 17.985%, 5/01/20 (IF) (5) | No Opt. Call | Aa2 | 4,480,731 | ||||||||||||||
8,505 | Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 4.250%, 12/01/32 – AMBAC Insured | 12/16 at 100.00 | A+ | 8,287,527 | ||||||||||||||
3,250 | Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.625%, 8/15/29 | 8/18 at 100.00 | A3 | 3,402,133 |
50 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Ohio (continued) | ||||||||||||||||||
$ | 700 | Lorain County Port Authority, Ohio, Recovery Zone Facility Economic Development Revenue Bonds, United State Steel Corporation Project, Series 2010, 6.750%, 12/01/40 | 12/20 at 100.00 | BB– | $ | 696,500 | ||||||||||||
5,765 | Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 | 11/21 at 100.00 | AA | 6,310,254 | ||||||||||||||
2,240 | Marysville Exempted Village School District, Union County, Ohio, General Obligation Bonds, Series 2005, 5.000%, 12/01/24 – AGM Insured | 12/15 at 100.00 | AA– | 2,405,805 | ||||||||||||||
1,000 | Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center Inc., Series 2006, 5.250%, 5/15/26 | 5/16 at 100.00 | A | 1,026,960 | ||||||||||||||
1,500 | Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center Project, Refunding Series 2011, 5.250%, 8/01/41 | 8/21 at 100.00 | A2 | �� | 1,506,030 | |||||||||||||
3,500 | Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding & improvement Series 2010, 6.375%, 4/01/30 | 4/20 at 100.00 | BBB– | 3,652,950 | ||||||||||||||
2,270 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19 | No Opt. Call | BBB– | 2,485,695 | ||||||||||||||
1,540 | Ohio State, Higher Educational Facility Revenue Bonds, Baldwin-Wallace College Project, Series 2004, 5.250%, 12/01/19 (Pre-refunded 6/01/14) | 6/14 at 100.00 | A–(4) | 1,585,923 | ||||||||||||||
2,640 | Ross Local School District, Butler County, Ohio, General Obligation Bonds, Series 2003, 5.000%, 12/01/28 (Pre-refunded 12/01/13) – AGM Insured | 12/13 at 100.00 | Aa2 (4) | 2,650,745 | ||||||||||||||
Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012: | ||||||||||||||||||
2,370 | 5.000%, 12/01/17 | No Opt. Call | N/R | 2,429,653 | ||||||||||||||
1,250 | 5.000%, 12/01/22 | No Opt. Call | N/R | 1,234,700 | ||||||||||||||
3,000 | 5.750%, 12/01/32 | 12/22 at 100.00 | N/R | 2,911,950 | ||||||||||||||
2,000 | 6.000%, 12/01/42 | 12/22 at 100.00 | N/R | 1,948,900 | ||||||||||||||
3,000 | Trumbull County, Ohio, Multifamily Housing Revenue Bonds, Royal Mall Apartments, Series 2007, 5.000%, 5/20/49 (Alternative Minimum Tax) | 11/17 at 102.00 | Aa1 | 3,015,450 | ||||||||||||||
Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County Hospital Project, Series 2012: | ||||||||||||||||||
2,000 | 5.000%, 12/01/27 | No Opt. Call | Baa2 | 2,058,520 | ||||||||||||||
2,500 | 5.000%, 12/01/32 | No Opt. Call | Baa2 | 2,432,475 | ||||||||||||||
78,110 | Total Ohio | 77,365,558 | ||||||||||||||||
Oregon – 0.6% | ||||||||||||||||||
1,400 | Oregon Department of Administrative Services, Certificates of Participation, Series 2009A, 5.250%, 5/01/39 | 5/19 at 100.00 | AA | 1,450,652 | ||||||||||||||
1,000 | Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A, 5.150%, 7/01/42 (Alternative Minimum Tax) | 1/20 at 100.00 | Aaa | 1,006,750 | ||||||||||||||
2,500 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2004A, 5.000%, 11/15/21 (Pre-refunded 11/15/14) | 11/14 at 100.00 | AAA | 2,625,225 | ||||||||||||||
1,040 | Oregon State Facilities Authority, Revenue Bonds, Concordia University Project, Series 2010A, 6.125%, 9/01/30 | 9/20 at 100.00 | BB+ | 1,058,720 | ||||||||||||||
7,155 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2010-20C, 5.000%, 7/01/27 (Alternative Minimum Tax) | 7/20 at 100.00 | AA– | 7,601,973 | ||||||||||||||
835 | Portland, Oregon, River District Urban Renewal and Redevelopment Bonds, Series 2012C, 5.000%, 6/15/30 | 6/22 at 100.00 | A1 | 868,759 | ||||||||||||||
13,930 | Total Oregon | 14,612,079 | ||||||||||||||||
Pennsylvania – 4.3% | ||||||||||||||||||
1,125 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carlow University, Series 2011, 6.750%, 11/01/31 | 11/21 at 100.00 | BBB– | 1,179,079 | ||||||||||||||
1,000 | Bucks County Industrial Development Authority, Pennsylvania, Charter School Revenue Bonds, School Lane Charter School, Series 2007A, 5.000%, 3/15/37 | 3/17 at 100.00 | BBB | 887,740 | ||||||||||||||
1,000 | Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.125%, 1/01/29 | 1/19 at 100.00 | BBB+ | 1,063,680 | ||||||||||||||
2,000 | Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008, 6.125%, 10/01/34 | 10/18 at 100.00 | BBB | 2,062,860 | ||||||||||||||
1,350 | Erie County Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, International Paper Company Project, Refunding Series 2004A, 5.000%, 11/01/18 (Alternative Minimum Tax) | 11/14 at 100.00 | BBB | 1,363,500 |
Nuveen Investments | 51 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Pennsylvania (continued) | ||||||||||||||||||
$ | 2,525 | Harrisburg Authority, Dauphin County, Pennsylvania, Water Revenue Refunding Bonds, Series 2004, 5.000%, 7/15/19 – AGM Insured | 7/14 at 100.00 | AA– | $ | 2,533,585 | ||||||||||||
710 | Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 | 8/20 at 100.00 | AA | 750,001 | ||||||||||||||
940 | Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Tender Option Bond Trust 62B, 17.906%, 8/01/38 (IF) (5) | 8/20 at 100.00 | AA | 1,254,327 | ||||||||||||||
Montgomery County Industrial Development Authority, Pennsylvania, First Mortgage Revenue Bonds, Whitemarsh Continuing Care, Series 2005: | ||||||||||||||||||
6,145 | 6.125%, 2/01/28 | 2/15 at 100.00 | N/R | 6,144,631 | ||||||||||||||
500 | 6.250%, 2/01/35 | 2/15 at 100.00 | N/R | 492,435 | ||||||||||||||
1,150 | Montgomery County Industrial Development Authority, Pennsylvania, Revenue Refunding Bonds, ACTS Retirement-Life Communities, Inc., Series 2012, 5.000%, 11/15/29 | 5/22 at 100.00 | A– | 1,131,911 | ||||||||||||||
3,990 | Montgomery County Industrial Development Authority, Pennsylvania, Water Facilities Revenue Bonds, Aqua Pennsylvania, Inc. Project, Series 2007A, 5.250%, 7/01/42 | 7/18 at 100.00 | AA– | 4,064,015 | ||||||||||||||
3,115 | Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds, Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 | 10/19 at 100.00 | BBB+ | 3,393,793 | ||||||||||||||
1,200 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 5.800%, 7/01/30 | 7/20 at 100.00 | Baa3 | 1,198,620 | ||||||||||||||
525 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2010-110A, 4.750%,s 10/01/25 | 10/19 at 100.00 | AA+ | 541,984 | ||||||||||||||
1,050 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A, 5.000%, 12/01/26 – AMBAC Insured | 6/16 at 100.00 | A+ | 1,125,012 | ||||||||||||||
15,000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 0.000%, 6/01/33 – AGM Insured | 6/26 at 100.00 | AA | 14,629,200 | ||||||||||||||
480 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Global Leadership Academy Project, Series 2010, 5.750%, 11/15/30 | 11/20 at 100.00 | BBB– | 481,085 | ||||||||||||||
4,980 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fifth Series 2004A-1, 5.000%, 9/01/23 – AGM Insured | 9/14 at 100.00 | AA– | 5,131,093 | ||||||||||||||
2,000 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Ninth Series, 2010, 5.000%, 8/01/30 | 8/20 at 100.00 | BBB+ | 2,013,520 | ||||||||||||||
210 | Philadelphia Redevelopment Authority, Pennsylvania, Multifamily Housing Revenue Bonds, Pavilion Apartments, Series 2003A, 4.250%, 10/01/16 (Alternative Minimum Tax) | 4/14 at 100.00 | A | 210,336 | ||||||||||||||
585 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A, 5.000%, 6/15/40 – AGM Insured | 6/20 at 100.00 | AA– | 590,218 | ||||||||||||||
2,380 | Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 6.500%, 8/01/41 | 8/20 at 100.00 | A2 | 2,636,731 | ||||||||||||||
8,875 | Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Refunding Series 2012, 5.000%, 11/01/28 | No Opt. Call | A1 | 9,596,005 | ||||||||||||||
2,400 | Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/30 – AGM Insured | 8/20 at 100.00 | AA– | 2,497,368 | ||||||||||||||
2,430 | Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2005A, 5.000%, 9/01/16 – NPFG Insured | 9/15 at 100.00 | A1 | 2,602,166 | ||||||||||||||
5,200 | Radnor Township School District, Delaware County, Pennsylvania, General Obligation Bonds, Series 2005A, 5.000%, 11/15/28 – AGM Insured | 5/15 at 100.00 | Aa2 | 5,452,044 | ||||||||||||||
3,000 | Southeastern Pennsylvania Transportation Authority, Capital Grant Receipts Bonds, Federal Transit Administration Section 5309 Fixed Guideway Modernization Formula Funds, Series 2011, 5.000%, 6/01/28 | 6/21 at 100.00 | A+ | 3,174,360 | ||||||||||||||
1,600 | State Public School Building Authority, Pennsylvania, College Revenue Bonds, Delaware County Community College, Series 2008, 5.000%, 10/01/24 – AGM Insured | 4/18 at 100.00 | A1 | 1,718,032 | ||||||||||||||
19,300 | Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2012B, 4.000%, 1/01/33 | No Opt. Call | Baa3 | 16,615,370 | ||||||||||||||
Westmoreland County Industrial Development Authority, Pennsylvania, Retirement Community Revenue Bonds, Redstone Presbyterian SeniorCare Obligated Group, Series 2005A: | ||||||||||||||||||
1,200 | 5.750%, 1/01/26 | 1/16 at 100.00 | N/R | 1,202,556 | ||||||||||||||
1,400 | 5.875%, 1/01/32 | 1/16 at 100.00 | N/R | 1,372,322 | ||||||||||||||
99,365 | Total Pennsylvania | 99,109,579 | ||||||||||||||||
Puerto Rico – 1.1% | ||||||||||||||||||
1,030 | Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 5.000%, 12/01/20 | 12/13 at 100.00 | AA– | 1,029,918 | ||||||||||||||
10,000 | Puerto Rico Infrastructure Financing Authority, Revenue Bonds, Ports Authority Project Bonds, Series 2011B, 5.250%, 12/15/26 | 12/21 at 100.00 | BBB– | 7,406,700 |
52 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Puerto Rico (continued) | ||||||||||||||||||
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C: | ||||||||||||||||||
$ | 850 | 5.500%, 7/01/17 – AMBAC Insured | No Opt. Call | BBB+ | $ | 798,082 | ||||||||||||
1,000 | 5.500%, 7/01/27 – AMBAC Insured | No Opt. Call | BBB+ | 805,040 | ||||||||||||||
3,750 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32 | 8/26 at 100.00 | A+ | 2,767,538 | ||||||||||||||
5,400 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Senior Series 2011C, 0.000%, 8/01/41 | No Opt. Call | AA– | 815,400 | ||||||||||||||
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A: | ||||||||||||||||||
2,550 | 5.500%, 7/01/16 – AGM Insured | No Opt. Call | AA– | 2,580,014 | ||||||||||||||
3,000 | 5.500%, 7/01/17 – AGM Insured | No Opt. Call | AA– | 3,016,650 | ||||||||||||||
3,440 | 5.500%, 7/01/18 – AGM Insured | No Opt. Call | AA– | 3,443,371 | ||||||||||||||
2,250 | 5.500%, 7/01/19 – AGM Insured | No Opt. Call | AA– | 2,214,518 | ||||||||||||||
1,180 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/19 – NPFG Insured | No Opt. Call | A | 1,123,030 | ||||||||||||||
80 | Puerto Rico, General Obligation and Public Improvement Refunding Bonds, Series 1999, 5.250%, 7/01/18 | No Opt. Call | AA | 70,368 | ||||||||||||||
34,530 | Total Puerto Rico | 26,070,629 | ||||||||||||||||
Rhode Island – 0.1% | ||||||||||||||||||
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A: | ||||||||||||||||||
1,855 | 6.125%, 6/01/32 | 12/13 at 100.00 | BBB+ | 1,839,659 | ||||||||||||||
1,360 | 6.250%, 6/01/42 | 12/13 at 100.00 | BBB– | 1,324,599 | ||||||||||||||
3,215 | Total Rhode Island | 3,164,258 | ||||||||||||||||
South Carolina – 0.2% | ||||||||||||||||||
700 | Georgetown County, South Carolina, Environmental Improvement Revenue Bonds, International Paper Company, Senior Lien Series 2005A, 5.550%, 12/01/29 (Alternative Minimum Tax) | 12/15 at 100.00 | BBB | 711,088 | ||||||||||||||
480 | Greenville, South Carolina, Hospital Facilities Revenue Bonds, Series 1990, 6.000%, 5/01/20 | No Opt. Call | AA– | 560,981 | ||||||||||||||
1,135 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2006C-2, 5.500%, 7/01/37 – AGM Insured (Alternative Minimum Tax) | 1/14 at 100.00 | Aa1 | 1,190,070 | ||||||||||||||
2,000 | South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper, Series 2008A, 5.375%, 1/01/28 | 1/19 at 100.00 | AA– | 2,247,080 | ||||||||||||||
4,315 | Total South Carolina | 4,709,219 | ||||||||||||||||
South Dakota – 0.7% | ||||||||||||||||||
2,500 | Rapid City, South Dakota, Airport Customer Facility Charge Revenue Bonds, Recovery Zone Facility Bond Series 2010B, 7.000%, 12/01/30 | 12/20 at 102.00 | N/R | 2,673,850 | ||||||||||||||
1,000 | Rapid City, South Dakota, Airport Revenue Refunding Bonds, Passenger Facility Charge Supported, Series 2011A, 7.000%, 12/01/35 | 12/19 at 100.00 | Baa2 | 1,075,540 | ||||||||||||||
1,400 | South Dakota Economic Development Finance Authority, Economic Development Revenue Bonds, Davis Family Sodak, LLC Wastewater Project, Pooled Loan Program, Series 2004A, 6.000%, 4/01/29 (Alternative Minimum Tax) | 4/14 at 100.00 | A+ | 1,422,498 | ||||||||||||||
2,000 | South Dakota Economic Development Finance Authority, Economic Development Revenue Bonds, Spearfish Products Project, Pooled Loan Program, Series 2008A, 5.875%, 4/01/28 (Alternative Minimum Tax) | 4/16 at 100.00 | A+ | 2,155,100 | ||||||||||||||
6,750 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Vocational Education Program, Series 2008, 5.500%, 8/01/38 – AGC Insured | 8/18 at 100.00 | AA | 7,305,255 | ||||||||||||||
750 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community Project, Series 2006, 5.000%, 9/01/31 | 9/14 at 100.00 | A | 732,225 | ||||||||||||||
14,400 | Total South Dakota | 15,364,468 | ||||||||||||||||
Tennessee – 1.1% | ||||||||||||||||||
3,670 | Blount County Public Building Authority, Tennessee, Local Government Public Improvement Loan Bonds, Washington County, Series 2007B-12-A, 4.375%, 6/01/35 – SYNCORA GTY Insured | 6/19 at 100.00 | Aa2 | 3,707,911 | ||||||||||||||
Chattanooga Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Catholic Health Initiatives, Series 2008D: | ||||||||||||||||||
510 | 6.000%, 10/01/23 | 10/18 at 100.00 | A+ | 596,751 | ||||||||||||||
1,500 | 6.125%, 10/01/28 | 10/18 at 100.00 | A+ | 1,711,275 | ||||||||||||||
3,000 | Claiborne County, Tennessee, Industrial Development Board, Revenue Refunding Bonds, Lincoln Memorial University Project, Series 2009, 6.625%, 10/01/39 | 10/19 at 100.00 | N/R | 3,134,460 |
Nuveen Investments | 53 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Tennessee (continued) | ||||||||||||||||||
$ | 1,000 | Clarksville Natural Gas Acquisition Corporation, Tennessee, Natural Gas Revenue Bonds, Series 2006, 5.000%, 12/15/17 – SYNCORA GTY Insured | No Opt. Call | A | $ | 1,104,410 | ||||||||||||
Johnson City Health and Educational Facilities Board, Tennessee, Revenue Bonds, Mountain States Health Alliance, Series 2006A: | ||||||||||||||||||
720 | 5.000%, 7/01/16 | No Opt. Call | BBB+ | 780,984 | ||||||||||||||
755 | 5.000%, 7/01/17 | 7/16 at 100.00 | BBB+ | 811,784 | ||||||||||||||
4,680 | 5.500%, 7/01/36 | 7/16 at 100.00 | BBB+ | 4,761,338 | ||||||||||||||
135 | Memphis Health, Educational and Housing Facilities Board, Tennessee, Multifamily Housing Revenue Bonds, Goodwill Village Apartments, Series 2010A, 5.500%, 12/01/30 | 12/20 at 100.00 | A– | 131,926 | ||||||||||||||
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012: | ||||||||||||||||||
1,440 | 5.000%, 11/01/26 | 11/21 at 100.00 | BBB+ | 1,530,302 | ||||||||||||||
1,000 | 5.000%, 11/01/27 | 11/21 at 100.00 | BBB+ | 1,052,720 | ||||||||||||||
250 | 5.000%, 11/01/28 | 11/21 at 100.00 | BBB+ | 260,710 | ||||||||||||||
255 | 5.000%, 11/01/29 | 11/21 at 100.00 | BBB+ | 263,142 | ||||||||||||||
1,000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Series 2009A, 5.000%, 10/01/39 | 10/19 at 100.00 | AA+ | 1,049,500 | ||||||||||||||
800 | Shelby County, Tennessee, General Obligation Bonds, Public Improvement & School Refunding Series 2009A, 5.000%, 4/01/20 | 4/19 at 100.00 | AA+ | 935,944 | ||||||||||||||
200 | Shelby County, Tennessee, General Obligation Bonds, Public Improvement & School Refunding Series 2009A, 5.000%, 4/01/20 (Pre-refunded 4/01/19) | 4/19 at 100.00 | Aa1 (4) | 238,878 | ||||||||||||||
2,000 | South Blount County Utility District, Tennessee, Waterworks Revenue Bonds, Improvement and Refunding Series 2009, 5.250%, 12/01/39 – AGM Insured | 12/19 at 100.00 | AA– | 2,113,840 | ||||||||||||||
1,000 | Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/37 (6) | 11/17 at 100.00 | N/R | 2,400 | ||||||||||||||
1,000 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/21 | No Opt. Call | A | 1,114,460 | ||||||||||||||
24,915 | Total Tennessee | 25,302,735 | ||||||||||||||||
Texas – 9.7% | ||||||||||||||||||
5,280 | Bexar County, Texas, Venue Project Revenue Bonds, Refunding Series 2010, 5.500%, 8/15/49 – AGM Insured | 8/19 at 100.00 | AA– | 5,508,096 | ||||||||||||||
3,635 | Brazos County Health Facilities Development Corporation, Texas, Franciscan Services Corporation Obligated Group-St Joseph Regional, Revenue Bonds, Series 2008, 5.000%, 1/01/23 | 7/18 at 100.00 | A– | 3,833,253 | ||||||||||||||
2,315 | Brownsville, Texas, Utility System Revenue Bonds, Refunding Series 2008, 5.000%, 9/01/27 – AGM Insured | No Opt. Call | AA– | 2,493,255 | ||||||||||||||
3,500 | Bryan, Brazos County, Texas, Electric System Revenue Bonds, Refunding Series 2010, 5.000%, 7/01/19 | 7/17 at 100.00 | A+ | 3,900,295 | ||||||||||||||
1,745 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010, 5.750%, 1/01/25 | 1/20 at 100.00 | Baa2 | 1,858,303 | ||||||||||||||
3,400 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.250%, 1/01/46 | 1/21 at 100.00 | Baa2 | 3,486,360 | ||||||||||||||
Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012: | ||||||||||||||||||
2,745 | 5.000%, 8/15/32 | 8/22 at 100.00 | BBB | 2,641,239 | ||||||||||||||
2,750 | 5.000%, 8/15/42 | 8/22 at 100.00 | BBB | 2,526,233 | ||||||||||||||
1,250 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2013, 6.000%, 8/15/33 | 8/23 at 100.00 | BBB | 1,323,938 | ||||||||||||||
2,100 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Tejano Center for Community Concerns, Inc.-Raul Yzaguirre School for Success, Refunding Series 2009A, 8.750%, 2/15/28 | 2/18 at 100.00 | B+ | 2,165,268 | ||||||||||||||
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2011C: | ||||||||||||||||||
3,500 | 5.000%, 11/01/24 | 11/20 at 100.00 | A+ | 3,841,985 | ||||||||||||||
1,500 | 5.000%, 11/01/25 | 11/20 at 100.00 | A+ | 1,626,645 | ||||||||||||||
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B: | ||||||||||||||||||
1,775 | 5.000%, 11/01/18 | No Opt. Call | A+ | 2,071,123 | ||||||||||||||
20 | 5.000%, 11/01/35 | 11/20 at 100.00 | A+ | 20,366 | ||||||||||||||
1,460 | Danbury Higher Education Authority Inc., Texas, Golden Rule Charter School Revenue Bonds, Series 2008A, 6.500%, 8/15/38 | 2/18 at 100.00 | BB+ | 1,411,061 | ||||||||||||||
500 | Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, Refunding Series 1994, 5.000%, 2/15/14 (ETM) | No Opt. Call | AAA | 507,050 | ||||||||||||||
5,500 | Gregg County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Series 2012C, 5.000%, 7/01/32 | 7/22 at 100.00 | BBB+ | 5,214,990 |
54 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
$ | 1,075 | Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax) | 10/22 at 100.00 | BB+ | $ | 1,024,464 | ||||||||||||
1,030 | Harris County Cultural Education Facilities Finance Corporation, Texas, Medical Facilities Revenue Refunding Bonds, Baylor College of Medicine, Series 2012A, 4.000%, 11/15/32 | 11/22 at 100.00 | A– | 912,559 | ||||||||||||||
3,775 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men’s Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/33 | 6/23 at 100.00 | Baa3 | 3,611,278 | ||||||||||||||
2,000 | Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2008B, 7.250%, 12/01/35 (Pre-refunded 12/01/18) | 12/18 at 100.00 | A+ (4) | 2,604,500 | ||||||||||||||
5,000 | Harris County Hospital District, Texas, Revenue Bonds, Series 2007A, 5.250%, 2/15/42 – NPFG Insured | 2/17 at 100.00 | A | 5,122,150 | ||||||||||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Senior Lien Series 2001G: | ||||||||||||||||||
5,000 | 5.250%, 11/15/21 – NPFG Insured | 11/13 at 100.00 | A | 5,011,850 | ||||||||||||||
6,500 | 5.250%, 11/15/22 – NPFG Insured | 11/13 at 100.00 | A | 6,502,080 | ||||||||||||||
7,800 | 5.250%, 11/15/30 – NPFG Insured | 11/13 at 100.00 | A | 7,799,532 | ||||||||||||||
2,500 | 5.375%, 11/15/41 – NPFG Insured | 11/13 at 100.00 | A | 2,499,850 | ||||||||||||||
3,000 | Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28 | 7/20 at 100.00 | BBB+ | 2,992,170 | ||||||||||||||
1,955 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011A, 5.250%, 9/01/28 | 9/21 at 100.00 | A2 | 2,053,415 | ||||||||||||||
1,270 | Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2011A, 5.000%, 7/01/25 (Alternative Minimum Tax) | 7/21 at 100.00 | A+ | 1,372,248 | ||||||||||||||
2,635 | Humble Independent School District, Harris County, Texas, General Obligation Bonds, Series 2008A, 5.250%, 2/15/22 – AGC Insured | 2/18 at 100.00 | Aa2 | 3,000,000 | ||||||||||||||
10,720 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%, 11/01/28 (Alternative Minimum Tax) | 11/22 at 100.00 | BBB– | 10,586,429 | ||||||||||||||
Lubbock Educational Facilities Authority, Texas, Revenue Bonds, Lubbock Christian University, Refunding & Improvement Series 2007: | ||||||||||||||||||
1,000 | 5.125%, 11/01/27 | 11/17 at 100.00 | BBB | 1,025,530 | ||||||||||||||
2,500 | 5.250%, 11/01/37 | 11/17 at 100.00 | BBB | 2,507,600 | ||||||||||||||
1,190 | Mansfield, Texas, General Obligation Bonds, Series 2004A, 5.250%, 2/15/25 (Pre-refunded 2/15/14) – AMBAC Insured | 2/14 at 100.00 | AA (4) | 1,207,600 | ||||||||||||||
8,000 | Matagorda County Navigation District 1, Texas, Pollution Control Revenue Bonds, AEP Texas Central Company Project, Remarketing, Series 2008-2, 4.000%, 6/01/30 | 6/23 at 100.00 | A– | 7,197,200 | ||||||||||||||
4,500 | North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Variable Rate Demand Series 2008-E3, 5.750%, 1/01/38 (Mandatory put 1/01/16) | No Opt. Call | A2 | 4,941,135 | ||||||||||||||
2,000 | North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F, 5.750%, 1/01/33 (UB) (5) | 1/18 at 100.00 | A3 | 2,127,460 | ||||||||||||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A: | ||||||||||||||||||
2,000 | 5.500%, 9/01/41 | 9/21 at 100.00 | �� | AA+ | 2,163,580 | |||||||||||||
10,880 | 0.000%, 9/01/45 | 9/31 at 100.00 | AA+ | 8,263,578 | ||||||||||||||
3,000 | North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A, 6.000%, 1/01/28 | 1/19 at 100.00 | A2 | 3,395,430 | ||||||||||||||
2,000 | Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Series 2010D-1, 5.000%, 10/01/30 | 10/20 at 100.00 | AAA | 2,223,040 | ||||||||||||||
1,000 | Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, Series 2004, 6.000%, 12/01/34 (Pre-refunded 12/01/13) | 12/13 at 100.00 | A+ (4) | 1,004,890 | ||||||||||||||
525 | SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series 2007, 5.500%, 8/01/27 | No Opt. Call | A | 573,904 | ||||||||||||||
10,000 | San Antonio, Texas, Electric and Gas Revenue Bonds, Refunding Series 2009A, 5.250%, 2/01/25 | 2/19 at 100.00 | Aa1 | 11,565,900 | ||||||||||||||
4,000 | San Antonio, Texas, Electric and Gas Revenue Bonds, Series 2008, 5.000%, 2/01/25 | 2/18 at 100.00 | Aa1 | 4,482,120 | ||||||||||||||
San Marcos, Texas, General Obligation Bonds, Series 2008: | ||||||||||||||||||
1,000 | 5.000%, 8/15/25 – AGM Insured | 8/17 at 100.00 | Aa2 | 1,097,210 | ||||||||||||||
1,000 | 5.000%, 8/15/27 – AGM Insured | 8/17 at 100.00 | Aa2 | 1,072,230 | ||||||||||||||
1,000 | San Marcos, Texas, Waterworks and Wastewater System Revenue Bonds, Series 2008, 5.000%, 8/15/26 – AGM Insured | 8/17 at 100.00 | Aa2 | 1,063,040 |
Nuveen Investments | 55 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
$ | 9,030 | Southwest Higher Education Authority Inc, Texas, Revenue Bonds, Southern Methodist University, Series 2009, 5.000%, 10/01/36 | 10/19 at 100.00 | AA- | $ | 9,753,484 | ||||||||||||
1,600 | Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Northwest Senior Housing-Edgemere Project, Series 2006A, 6.000%, 11/15/26 | 11/16 at 100.00 | N/R | 1,611,408 | ||||||||||||||
940 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010, 5.500%, 8/15/45 | 8/20 at 100.00 | AA– | 970,794 | ||||||||||||||
790 | Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 5.625%, 12/15/17 | No Opt. Call | A– | 890,836 | ||||||||||||||
5,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/32 | No Opt. Call | A3 | 4,849,500 | ||||||||||||||
845 | Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009, 6.875%, 12/31/39 | 12/19 at 100.00 | Baa2 | 914,155 | ||||||||||||||
7,300 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 Segments 3A & 3B Facility, Series 2013, 6.750%, 6/30/43 (Alternative Minimum Tax) | 9/23 at 100.00 | BBB– | 7,701,427 | ||||||||||||||
7,800 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010, 7.000%, 6/30/40 | 6/20 at 100.00 | Baa3 | 8,535,774 | ||||||||||||||
1,000 | Texas Public Finance Authority, Charter School Finance Corporation Revenue Bonds, Idea Public School Project, Series 2007A, 5.000%, 8/15/37 – ACA Insured | 8/17 at 100.00 | BBB | 925,280 | ||||||||||||||
1,750 | Texas State, General Obligation Bonds, Water Financial Assistance, Tender Option Bond Trust 3479, 17.846%, 2/01/17 (IF) | No Opt. Call | AAA | 2,202,130 | ||||||||||||||
20,000 | Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/17 – AMBAC Insured | No Opt. Call | A– | 18,339,000 | ||||||||||||||
Travis County Health Facilities Development Corporation, Texas, Retirement Facility Revenue Bonds, Querencia Barton Creek, Series 2005: | ||||||||||||||||||
1,300 | 5.500%, 11/15/25 | 11/15 at 100.00 | N/R | 1,300,455 | ||||||||||||||
4,100 | 5.650%, 11/15/35 | 11/15 at 100.00 | N/R | 3,885,447 | ||||||||||||||
750 | Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010, 7.000%, 11/01/30 | 11/20 at 100.00 | BB+ | 817,815 | ||||||||||||||
2,000 | Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances Hospital Regional Healthcare Center, Series 2007, 5.000%, 7/01/33 | 7/17 at 100.00 | Baa1 | 1,911,820 | ||||||||||||||
500 | Uptown Development Authority, Houston, Texas, Tax Increment Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 5.250%, 9/01/24 | 9/19 at 100.00 | BBB | 527,675 | ||||||||||||||
217,535 | Total Texas | 220,570,432 | ||||||||||||||||
Utah – 0.6% | ||||||||||||||||||
Utah State Charter School Finance Authority Charter School Revenue Bonds, Vista at Entrada School of Performing Arts and Technology) Series 2012: | ||||||||||||||||||
905 | 5.600%, 7/15/22 | No Opt. Call | BB+ | 904,294 | ||||||||||||||
850 | 6.300%, 7/15/32 | 7/22 at 100.00 | BB+ | 826,812 | ||||||||||||||
1,000 | Utah State Charter School Finance Authority, Charter School Revenue Bonds, Navigator Pointe Academy Project, Series 2010A, 5.625%, 7/15/40 | 7/20 at 100.00 | BBB | 959,270 | ||||||||||||||
Utah State Charter School Finance Authority, Charter School Revenue Bonds, Noah Webster Academy, Series 2008A: | ||||||||||||||||||
465 | 6.250%, 6/15/28 | 6/17 at 100.00 | N/R | 442,317 | ||||||||||||||
950 | 6.500%, 6/15/38 | 6/17 at 100.00 | N/R | 879,881 | ||||||||||||||
1,250 | Utah State Charter School Finance Authority, Charter School Revenue Bonds, North Davis Preparatory Academy, Series 2010, 6.250%, 7/15/30 | 7/20 at 100.00 | BBB– | 1,276,575 | ||||||||||||||
1,135 | Utah State Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.375%, 7/15/40 | 7/20 at 100.00 | BBB– | 1,144,704 | ||||||||||||||
Utah State Charter School Finance Authority, Revenue Bonds, George Washington Academy Project, Series 2011A: | ||||||||||||||||||
2,135 | 7.750%, 7/15/31 | 7/21 at 100.00 | BB+ | 2,276,486 | ||||||||||||||
3,520 | 8.000%, 7/15/41 | 7/21 at 100.00 | BB+ | 3,787,027 | ||||||||||||||
12,210 | Total Utah | 12,497,366 |
56 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Vermont – 0.2% | ||||||||||||||||||
$ | 1,000 | Vermont Economic Development Authority, Mortgage Revenue Bonds, Wake Robin Corporation Project, Refunding Series 2006A, 5.250%, 5/01/26 | 5/16 at 100.00 | N/R | $ | 976,730 | ||||||||||||
Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, Vermont Law School Project, Series 2011A: | ||||||||||||||||||
1,815 | 6.125%, 1/01/28 | 1/21 at 100.00 | Baa2 | 1,936,006 | ||||||||||||||
1,000 | 6.250%, 1/01/33 | 1/21 at 100.00 | Baa2 | 1,055,030 | ||||||||||||||
3,815 | Total Vermont | 3,967,766 | ||||||||||||||||
Virgin Islands – 0.1% | ||||||||||||||||||
500 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate Lien Series 2009A, 6.000%, 10/01/39 | 10/19 at 100.00 | Baa3 | 509,170 | ||||||||||||||
2,480 | Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project, Series 2009A, 6.750%, 10/01/37 | 10/19 at 100.00 | BBB | 2,706,672 | ||||||||||||||
2,980 | Total Virgin Islands | 3,215,842 | ||||||||||||||||
Virginia – 1.2% | ||||||||||||||||||
805 | Arlington County Industrial Development Authority, Virginia, Multifamily Housing Mortgage Revenue Bonds, Berkeley Apartments, Series 2000, 5.850%, 12/01/20 (Alternative Minimum Tax) | 5/14 at 100.00 | AA+ | 806,819 | ||||||||||||||
Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Series 2012A: | ||||||||||||||||||
1,000 | 4.000%, 7/15/20 | No Opt. Call | BBB | 1,059,840 | ||||||||||||||
900 | 5.000%, 7/15/21 | No Opt. Call | BBB | 994,167 | ||||||||||||||
930 | 5.000%, 7/15/22 | No Opt. Call | BBB | 1,021,252 | ||||||||||||||
1,720 | 4.000%, 7/15/24 | 7/22 at 100.00 | BBB | 1,726,811 | ||||||||||||||
3,745 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Capital Appreciation Series 2009B-2, 0.000%, 10/01/31 – AGC Insured | No Opt. Call | AA– | 1,404,375 | ||||||||||||||
2,000 | Metropolitan Washington D.C. Airports Authority, Virginia, Airport System Revenue Bonds, Refunding Bonds, Series 2011C, 5.000%, 10/01/26 (Alternative Minimum Tax) | 10/21 at 100.00 | AA– | 2,142,920 | ||||||||||||||
4,000 | Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47 | 6/17 at 100.00 | B2 | 2,575,240 | ||||||||||||||
1,000 | Virginia Small Business Financing Authority, Revenue Bonds Hampton Roads Proton Beam Therapy Institute at Hampton University, LLC Project, Series 2009, 9.000%, 7/01/39 (Pre-refunded 7/01/14) | 7/14 at 102.00 | N/R (4) | 1,073,470 | ||||||||||||||
5,500 | Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax) | 1/22 at 100.00 | BBB– | 5,014,075 | ||||||||||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012: | ||||||||||||||||||
3,515 | 5.250%, 1/01/32 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB– | 3,498,444 | ||||||||||||||
6,490 | 5.500%, 1/01/42 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB– | 6,493,894 | ||||||||||||||
31,605 | Total Virginia | 27,811,307 | ||||||||||||||||
Washington – 2.7% | ||||||||||||||||||
6,220 | Clark County Public Utility District 1, Washington, Electric System Revenue Bonds, Refunding Series 2011, 5.250%, 1/01/31 | 1/21 at 100.00 | A+ | 6,612,295 | ||||||||||||||
960 | FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Tender Option Bond Trust 2009-14A&B, 19.643%, 6/01/34 (IF) (5) | 6/19 at 100.00 | AA | 1,227,686 | ||||||||||||||
2,450 | King County Public Hospital District 4, Washington, General Obligation Bonds, Snoqualmie Valley Hospital, Refunding Improvement Series 2011, 7.000%, 12/01/40 | 12/21 at 100.00 | N/R | 2,473,839 | ||||||||||||||
King County, Washington, General Obligation Sewer Bonds, Series 2005: | ||||||||||||||||||
5,115 | 5.000%, 1/01/35 (Pre-refunded 1/01/15) – FGIC Insured | 1/15 at 100.00 | Aa1 (4) | 5,399,394 | ||||||||||||||
1,885 | 5.000%, 1/01/35 (Pre-refunded 1/01/15) – FGIC Insured | 1/15 at 100.00 | AAA | 1,989,806 | ||||||||||||||
2,335 | King County, Washington, Sewer Revenue Bonds, Tender Option Bond Trust 3090, 13.461%, 7/01/32 – AGM Insured (IF) (5) | 7/17 at 100.00 | AA+ | 2,681,958 | ||||||||||||||
1,540 | Ocean Shores, Washington, Local Improvement District 2007-01 Bonds, 2011, 7.250%, 2/01/31 | No Opt. Call | BBB+ | 1,779,747 | ||||||||||||||
Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Regional Health, Improvement & Refunding Series 2013A: | ||||||||||||||||||
750 | 5.000%, 12/01/20 | No Opt. Call | Baa2 | 822,150 | ||||||||||||||
290 | 5.000%, 12/01/21 | No Opt. Call | Baa2 | 313,473 | ||||||||||||||
9,000 | 5.000%, 12/01/37 | 12/23 at 100.00 | Baa2 | 8,500,320 |
Nuveen Investments | 57 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Washington (continued) | ||||||||||||||||||
$ | 2,000 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35 | 1/21 at 100.00 | A | $ | 2,055,580 | ||||||||||||
3,535 | Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.250%, 12/01/30 | 12/20 at 100.00 | Baa3 | 3,544,156 | ||||||||||||||
Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012: | ||||||||||||||||||
2,775 | 5.000%, 12/01/27 | 12/21 at 100.00 | Baa3 | 2,779,912 | ||||||||||||||
2,435 | 5.000%, 12/01/42 | 12/21 at 100.00 | Baa3 | 2,109,246 | ||||||||||||||
2,315 | Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, Tender Option Bond Trust 3295, 18.172%, 4/01/20 (IF) (5) | No Opt. Call | AA | 2,360,837 | ||||||||||||||
1,000 | Washington Higher Education Facilities Authority Revenue Bonds, Whitworth University Project, Series 2012, 5.000%, 10/01/27 | 4/22 at 100.00 | Baa1 | 1,044,290 | ||||||||||||||
600 | Washington Public Power Supply System, Revenue Refunding Bonds, Nuclear Project 3, Series 1989B, 7.125%, 7/01/16 | No Opt. Call | Aa1 | 703,758 | ||||||||||||||
Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009: | ||||||||||||||||||
2,000 | 6.250%, 7/01/24 | 7/19 at 100.00 | Baa3 | 2,174,780 | ||||||||||||||
2,000 | 7.000%, 7/01/39 | 7/19 at 100.00 | Baa3 | 2,153,720 | ||||||||||||||
3,000 | Washington State Higher Education Facilities Authority, Revenue Bonds, Whitworth University, Series 2009, 5.375%, 10/01/29 | 10/19 at 100.00 | Baa1 | 3,109,680 | ||||||||||||||
1,100 | Washington State Housing Finance Commission, Non-Profit Revenue Bonds, Emerald Heights Project, Refunding 2013, 5.000%, 7/01/28 | 7/23 at 100.00 | A– | 1,114,663 | ||||||||||||||
2,340 | Washington State Housing Finance Commission, Revenue Bonds, Riverview Retirement Community Refunding, Series 2012, 5.000%, 1/01/48 | No Opt. Call | BBB– | 2,036,432 | ||||||||||||||
3,335 | Washington State, General Obligation Bonds, Tender Option Bond Trust 1121, 13.457%, 7/01/14 – AGM Insured (IF) | No Opt. Call | AA+ | 4,538,268 | ||||||||||||||
58,980 | Total Washington | 61,525,990 | ||||||||||||||||
West Virginia – 0.1% | ||||||||||||||||||
500 | Ohio County Commission, West Virginia, Tax Increment Revenue Bonds, Fort Henry Centre Financing District, Series 2007A, 5.850%, 6/01/34 | 6/17 at 100.00 | N/R | 507,260 | ||||||||||||||
1,020 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2009A, 5.625%, 9/01/32 | 9/19 at 100.00 | A3 | 1,052,620 | ||||||||||||||
1,000 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Thomas Health System, Inc., Series 2008, 6.500%, 10/01/28 | 10/18 at 100.00 | N/R | 1,005,760 | ||||||||||||||
2,520 | Total West Virginia | 2,565,640 | ||||||||||||||||
Wisconsin – 3.7% | ||||||||||||||||||
2,760 | Manitowoc, Wisconsin, Power System Revenue Bonds, Series 2004, 5.000%, 10/01/23 – FGIC Insured | 10/14 at 100.00 | A1 | 2,866,481 | ||||||||||||||
5,000 | Oneida Tribe of Indians of Wisconsin, Retail Sales Revenue Bonds, Series 2010, 144A, 6.500%, 2/01/31 | 2/19 at 102.00 | AA– | 5,426,500 | ||||||||||||||
Public Finance Authority of Wisconsin, Educational Facility Revenue Bonds, Cottonwood Classical Preparatory School in Albuquerque, New Mexico, Series 2012A: | ||||||||||||||||||
1,610 | 6.000%, 12/01/32 | No Opt. Call | N/R | 1,446,440 | ||||||||||||||
5,000 | 6.250%, 12/01/42 | No Opt. Call | N/R | 4,418,700 | ||||||||||||||
1,575 | Public Finance Authority of Wisconsin, Revenue Bonds, Carolina International School, Series 2013A, 7.000%, 8/01/43 | 8/23 at 100.00 | BB+ | 1,583,600 | ||||||||||||||
Public Finance Authority, Wisconsin, Charter School Revenue Bonds, Voyager Foundation Inc. of North Carolina, Series 2012A: | ||||||||||||||||||
390 | 5.500%, 10/01/22 | No Opt. Call | N/R | 380,071 | ||||||||||||||
375 | 6.000%, 10/01/32 | 10/22 at 100.00 | N/R | 348,195 | ||||||||||||||
2,000 | Superior, Wisconsin, Limited Obligation Revenue Refunding Bonds, Midwest Energy Resources Company, Series 1991E, 6.900%, 8/01/21 – FGIC Insured | No Opt. Call | A1 | 2,521,580 | ||||||||||||||
1,955 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.250%, 4/15/24 | 4/20 at 100.00 | A | 2,100,589 | ||||||||||||||
2,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beaver Dam Community Hospitals Inc., Series 2004A, 6.750%, 8/15/34 (Pre-refunded 8/15/14) | 8/14 at 100.00 | N/R (4) | 2,103,420 |
58 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||||
Wisconsin (continued) | ||||||||||||||||||||
$ | 1,225 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2010A, 6.125%, 6/01/39 | 6/20 at 100.00 | Baa2 | $ | 1,292,718 | ||||||||||||||
3,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc., Series 2004, 5.750%, 5/01/29 | 5/14 at 100.00 | BBB+ | 3,049,440 | ||||||||||||||||
13,950 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39 | 10/21 at 100.00 | A+ | 14,245,043 | ||||||||||||||||
1,490 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Howard Young Health Care, Inc., Refunding Series 2012, 5.000%, 8/15/27 | 8/22 at 100.00 | BBB+ | 1,520,977 | ||||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B: | ||||||||||||||||||||
1,000 | 4.250%, 2/15/32 | 2/22 at 100.00 | A– | 897,970 | ||||||||||||||||
1,000 | 5.000%, 2/15/40 | 2/22 at 100.00 | A– | 987,670 | ||||||||||||||||
20,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012, 5.000%, 6/01/32 | 6/22 at 100.00 | A2 | 20,145,000 | ||||||||||||||||
7,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C, 5.000%, 8/15/32 | 8/22 at 100.00 | A+ | 7,146,790 | ||||||||||||||||
595 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Series 2009, 6.625%, 2/15/39 | 2/19 at 100.00 | A+ | 646,438 | ||||||||||||||||
1,800 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Series 2009, 6.625%, 2/15/32 (Pre-refunded 2/18/14) | 2/14 at 100.00 | A+ | (4) | 1,834,524 | |||||||||||||||
5,185 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/43 | 8/23 at 100.00 | A– | 4,949,134 | ||||||||||||||||
2,535 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2006B, 5.125%, 8/15/30 | 8/16 at 100.00 | A– | 2,541,312 | ||||||||||||||||
1,765 | Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A, 5.000%, 7/01/30 – AMBAC Insured | 7/15 at 100.00 | A1 | 1,840,083 | ||||||||||||||||
83,210 | Total Wisconsin | 84,292,675 | ||||||||||||||||||
Wyoming – 0.7% | ||||||||||||||||||||
2,000 | Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative – Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39 | 7/19 at 100.00 | A1 | 2,169,400 | ||||||||||||||||
4,500 | Natrona County, Wyoming, Hospital Revenue Bonds, Wyoming Medical Center Project, Series 2011, 6.350%, 9/15/31 | 3/21 at 100.00 | A3 | 4,814,640 | ||||||||||||||||
1,000 | Sweetwater County, Wyoming, Pollution Control Revenue Refunding Bonds, Idaho Power Company Project, Series 2006, 5.250%, 7/15/26 | 8/19 at 100.00 | A2 | 1,079,130 | ||||||||||||||||
Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John’s Medical Center Project, Series 2011B: | ||||||||||||||||||||
800 | 5.500%, 12/01/27 | 12/21 at 100.00 | BBB | 840,760 | ||||||||||||||||
2,500 | 6.000%, 12/01/36 | 12/21 at 100.00 | BBB | 2,658,475 | ||||||||||||||||
3,650 | West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 7.000%, 6/01/40 | 6/21 at 100.00 | BBB | 4,034,346 | ||||||||||||||||
14,450 | Total Wyoming | 15,596,751 | ||||||||||||||||||
$ | 2,349,041 | Total Municipal Bonds (cost $2,187,741,603) | 2,248,515,954 | |||||||||||||||||
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (3) | Value | |||||||||||||||
CORPORATE BONDS – 0.0% | ||||||||||||||||||||
Transportation – 0.0% | ||||||||||||||||||||
$ | 129 | Las Vegas Monorail Company, Senior Interest Bonds (7), (10) | 5.500 | % | 7/15/19 | N/R | $ | 23,303 | ||||||||||||
37 | Las Vegas Monorail Company, Senior Interest Bonds (7), (10) | 3.000 | % | 7/15/55 | N/R | 4,930 | ||||||||||||||
$ | 166 | Total Corporate Bonds (cost $6,584) | 28,233 | |||||||||||||||||
Total Long-Term Investments (cost $2,187,748,187) – 98.4% | 2,248,544,187 | |||||||||||||||||||
Floating Rate Obligations – (0.8)% | (18,520,000 | ) | ||||||||||||||||||
Other Assets Less Liabilities – 2.4% | 56,050,675 | |||||||||||||||||||
Net Assets – 100% | $ | 2,286,074,862 |
Nuveen Investments | 59 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen All-American Municipal Bond Fund (continued)
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
(3) | Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
(6) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(7) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information. |
(8) | On April 1, 2013, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual from 5.750% to 2.300%. |
(9) | On April 1, 2013, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual from 5.875% to 2.350%. |
(10) | During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an interest rate of 5.500% maturing on July 15, 2019 and the second with an interest rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The custodian is not accruing income on the Fund’s records for either senior interest corporate bond. |
WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
(ETM) | Escrowed to maturity. |
(IF) | Inverse floating rate investment. |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information. |
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. |
See accompanying notes to financial statements.
60 | Nuveen Investments |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Inflation Protected Municipal Bond Fund
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 103.2% | ||||||||||||||||||
MUNICIPAL BONDS – 103.2% | ||||||||||||||||||
Arizona – 3.6% | ||||||||||||||||||
$ | 250 | Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30 | 3/22 at 100.00 | BBB | $ | 236,410 | ||||||||||||
500 | Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A, 5.000%, 2/01/19 | No Opt. Call | BBB+ | 555,830 | ||||||||||||||
345 | Arizona Sports and Tourism Authority, Senior Revenue Refunding Bonds, Multipurpose Stadium Facility Project, Series 2012A, 5.000%, 7/01/25 | 7/22 at 100.00 | A1 | 380,138 | ||||||||||||||
130 | Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/15 – AGM Insured | No Opt. Call | AA | 139,788 | ||||||||||||||
1,110 | Pima County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, San Juan Project, Series 2009A, 4.950%, 10/01/20 | No Opt. Call | BBB | 1,183,493 | ||||||||||||||
400 | Pima County, Arizona, Sewer System Revenue Obligations, Series 2012A, 5.000%, 7/01/21 | No Opt. Call | AA– | 466,492 | ||||||||||||||
2,735 | Total Arizona | 2,962,151 | ||||||||||||||||
California – 6.9% | ||||||||||||||||||
305 | Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 5.300%, 10/01/23 – AMBAC Insured | No Opt. Call | BBB+ | 328,918 | ||||||||||||||
165 | California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008H, 5.125%, 7/01/22 | 7/15 at 100.00 | A | 175,908 | ||||||||||||||
120 | California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital of Orange County, Series 2009A, 5.750%, 11/01/18 | No Opt. Call | A | 142,934 | ||||||||||||||
850 | California Municipal Finance Authority, Revenue Bonds, University of San Diego, Refunding Series 2012A, 5.000%, 10/01/31 | No Opt. Call | A2 | 898,816 | ||||||||||||||
210 | California Statewide Communities Development Authority, Insured Revenue Refunding Bonds, Rady Children’s Hospital of San Diego, Series 2006A, 5.000%, 8/15/23 – NPFG Insured | 8/16 at 100.00 | A+ | 227,050 | ||||||||||||||
130 | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G, 5.000%, 7/01/22 | 7/15 at 100.00 | BBB– | 136,403 | ||||||||||||||
500 | El Camino Community College District, California, General Obligation Bonds, Election of 2002 Series 2012C, 0.000%, 8/01/21 | No Opt. Call | Aa1 | 401,870 | ||||||||||||||
200 | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999, 5.750%, 1/15/40 – NPFG Insured | 1/14 at 100.00 | A | 198,642 | ||||||||||||||
525 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2013A, 5.000%, 6/01/21 | No Opt. Call | A2 | 602,296 | ||||||||||||||
1,000 | Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007, 5.000%, 6/01/21 | 6/17 at 100.00 | B | 930,500 | ||||||||||||||
175 | Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Refunding Bonds, LAXFUEL Corporation at Los Angeles International Airport, Series 2012, 5.000%, 1/01/21 (Alternative Minimum Tax) | No Opt. Call | A | 196,812 | ||||||||||||||
70 | Port of Oakland, California, Revenue Refunding Bonds, Series 2011-O, 5.000%, 5/01/21 (Alternative Minimum Tax) | No Opt. Call | A+ | 78,678 | ||||||||||||||
800 | San Francisco, California, Community Facilities District 6, Mission Bay South Public Improvements, Special Tax Refunding Bonds, Series 2013A, 5.000%, 8/01/25 | 8/22 at 100.00 | N/R | 845,208 | ||||||||||||||
585 | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A, 0.000%, 1/15/22 – NPFG Insured | No Opt. Call | A | 370,931 | ||||||||||||||
170 | Ventura County Public Financing Authority, California, Lease Revenue Bonds Series 2013A, 5.000%, 11/01/24 | 11/22 at 100.00 | AA | 193,858 | ||||||||||||||
5,805 | Total California | 5,728,824 | ||||||||||||||||
Colorado – 7.7% | ||||||||||||||||||
300 | Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2013A, 5.000%, 3/01/22 | No Opt. Call | Aa2 | 352,494 |
Nuveen Investments | 61 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Inflation Protected Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Colorado (continued) | ||||||||||||||||||
$ | 555 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012A, 5.000%, 11/15/22 (Alternative Minimum Tax) | No Opt. Call | A+ | $ | 630,080 | ||||||||||||
150 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2006, 5.250%, 12/01/22 – SYNCORA GTY Insured | 11/16 at 100.00 | BBB– | 157,917 | ||||||||||||||
1,000 | Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, Stapleton Senior Refunding Series 2013A-1, 5.000%, 12/01/23 | 12/22 at 100.00 | A– | 1,119,050 | ||||||||||||||
1,000 | Denver West Metropolitan District, Jefferson County, Colorado, General Obligation Refunding Bonds, Series 2012A, 4.000%, 12/01/20 – AGM Insured | No Opt. Call | AA– | 1,098,610 | ||||||||||||||
525 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21 – NPFG Insured | No Opt. Call | A | 386,941 | ||||||||||||||
1,000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/20 – NPFG Insured | No Opt. Call | A | 783,270 | ||||||||||||||
1,250 | Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013, 5.000%, 12/01/19 | No Opt. Call | N/R | 1,330,038 | ||||||||||||||
500 | Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 5.250%, 7/15/24 | 7/20 at 100.00 | Baa3 | 528,280 | ||||||||||||||
6,280 | Total Colorado | 6,386,680 | ||||||||||||||||
Connecticut – 0.2% | ||||||||||||||||||
190 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health, Series 1999B, 1.550%, 11/15/29 (Mandatory put 2/01/17) | No Opt. Call | AA+ | 194,163 | ||||||||||||||
District of Columbia – 0.9% | ||||||||||||||||||
155 | District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33 | No Opt. Call | Baa1 | 161,384 | ||||||||||||||
100 | District of Columbia, Income Tax Secured Revenue Bonds, Series 2009D, 5.000%, 12/01/16 | No Opt. Call | AAA | 113,607 | ||||||||||||||
250 | District of Columbia, Revenue Bonds, Association of American Medical Colleges, Series 2011A, 5.000%, 10/01/24 | 10/23 at 100.00 | A+ | 280,850 | ||||||||||||||
140 | Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 5.000%, 10/01/16 – AMBAC Insured | No Opt. Call | A1 | 155,820 | ||||||||||||||
645 | Total District of Columbia | 711,661 | ||||||||||||||||
Florida – 7.9% | ||||||||||||||||||
240 | Florida Hurricane Catastrophe Fund, Financial Corporation Revenue Bonds, Series 2010A, 5.000%, 7/01/15 | No Opt. Call | AA | 257,592 | ||||||||||||||
1,000 | Greater Orlando Aviation Authority, Florida, Special Purpose Airport Facilities Revenue Bonds, JetBlue Airways Corporation, Series 2013, 5.000%, 11/15/26 (Alternative Minimum Tax) | 5/23 at 100.00 | N/R | 924,900 | ||||||||||||||
115 | Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.250%, 6/01/26 | 6/16 at 100.00 | A– | 116,860 | ||||||||||||||
1,000 | Jacksonville, Florida, Capital Improvement Refunding Revenue Bonds, Series 2012, 4.000%, 10/01/19 | No Opt. Call | AA | 1,121,890 | ||||||||||||||
500 | Jacksonville, Florida, Special Revenue Bonds, Series 20120C, 5.000%, 10/01/22 | No Opt. Call | Aa2 | 590,040 | ||||||||||||||
Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013: | ||||||||||||||||||
1,000 | 3.950%, 12/15/21 (Alternative Minimum Tax) | 6/20 at 100.00 | Ba1 | 900,120 | ||||||||||||||
835 | 4.200%, 12/15/25 (Alternative Minimum Tax) | 6/20 at 100.00 | Ba1 | 707,437 | ||||||||||||||
450 | Miami, Florida, Limited Ad Valorem Tax Bonds, Homeland Defense / Neighborhood Capital Improvement Project, Series 2009, 5.000%, 1/01/19 | No Opt. Call | A3 | 484,938 | ||||||||||||||
620 | Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2012, 5.000%, 7/01/22 | No Opt. Call | AA | 722,753 | ||||||||||||||
500 | Saint Lucie County School Board, Florida, Refunding Certificates of Participation, Florida Master Lease Program, Series 2013A, 5.000%, 7/01/24 | 7/23 at 100.00 | Aa3 | 564,105 | ||||||||||||||
100 | Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A, 5.000%, 9/01/21 | No Opt. Call | A+ | 115,754 | ||||||||||||||
6,360 | Total Florida | 6,506,389 | ||||||||||||||||
Georgia – 1.4% | ||||||||||||||||||
150 | Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007, 5.250%, 12/01/21 – AGC Insured | 12/17 at 100.00 | AA– | 160,526 | ||||||||||||||
150 | Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008C, Remarketed, 7.500%, 1/01/31 | 1/19 at 100.00 | A2 | 174,732 | ||||||||||||||
5 | Cobb-Marietta Coliseum and Exhibit Hall Authority, Georgia, Revenue Refunding Bonds, Series 1993, 5.625%, 10/01/26 – NPFG Insured | 10/19 at 100.00 | A | 5,506 |
62 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Georgia (continued) | ||||||||||||||||||
$ | 990 | Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2011A-1, 4.600%, 7/01/26 | No Opt. Call | N/R | $ | 809,374 | ||||||||||||
1,295 | Total Georgia | 1,150,138 | ||||||||||||||||
Guam – 0.9% | ||||||||||||||||||
640 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/19 – AGM Insured | No Opt. Call | AA– | 742,650 | ||||||||||||||
Idaho – 0.1% | ||||||||||||||||||
75 | Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Refunding Series 2008B, 6.000%, 12/01/23 | 12/18 at 100.00 | Aa2 | 88,043 | ||||||||||||||
Illinois – 7.9% | ||||||||||||||||||
295 | Chicago Public Building Commission, Illinois, General Obligation Lease Certificates, Chicago Board of Education, Series 1999B, 5.250%, 12/01/18 – FGIC Insured | No Opt. Call | A | 337,415 | ||||||||||||||
280 | Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2001A, 5.500%, 1/01/30 – NPFG Insured | No Opt. Call | A+ | 308,501 | ||||||||||||||
270 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2009A, 5.000%, 11/15/17 (5) | No Opt. Call | AA | 304,555 | ||||||||||||||
500 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/21 | No Opt. Call | A– | 556,465 | ||||||||||||||
335 | Illinois Finance Authority, Revenue Bonds, Alexian Brothers Health System, Refunding Series 2005B, 5.250%, 1/01/22 – AGM Insured | 4/18 at 100.00 | A2 | 364,956 | ||||||||||||||
325 | Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2012A, 5.000%, 3/01/22 | No Opt. Call | A+ | 372,655 | ||||||||||||||
740 | Illinois Finance Authority, Revenue Bonds, Lake Forest College, Series 2012A, 5.000%, 10/01/22 | No Opt. Call | BBB– | 766,529 | ||||||||||||||
685 | Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/21 | No Opt. Call | A– | 743,931 | ||||||||||||||
130 | Illinois State, General Obligation Bonds, Series 2006, 5.000%, 1/01/17 | 1/16 at 100.00 | A– | 138,856 | ||||||||||||||
250 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A, 0.010%, 6/15/17 – FGIC Insured | No Opt. Call | A | 231,883 | ||||||||||||||
180 | Northern Illinois Municipal Power Agency, Power Project Revenue Bonds, Prairie State Project, Series 2007A, 5.000%, 1/01/19 – NPFG Insured | 1/18 at 100.00 | A2 | 200,336 | ||||||||||||||
485 | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 5.000%, 6/01/19 | No Opt. Call | A | 551,799 | ||||||||||||||
210 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2011A, 5.000%, 6/01/19 – AGM Insured | No Opt. Call | AA | 239,885 | ||||||||||||||
1,000 | Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured | No Opt. Call | AA– | 701,580 | ||||||||||||||
1,500 | Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2013B, 0.000%, 1/01/28 | No Opt. Call | Aa2 | 714,090 | ||||||||||||||
7,185 | Total Illinois | 6,533,436 | ||||||||||||||||
Indiana – 3.7% | ||||||||||||||||||
965 | Indiana Finance Authority, Educational Facilities Refunding Revenue Bonds, Butler University Project, Series 2012A, 5.000%, 2/01/26 | 2/22 at 100.00 | BBB+ | 1,035,156 | ||||||||||||||
500 | Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/24 | 5/23 at 100.00 | A | 553,995 | ||||||||||||||
290 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Series 2011N, 5.000%, 3/01/25 | 3/21 at 100.00 | AA– | 310,004 | ||||||||||||||
500 | Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health System Obligated Group, Series 2012A, 5.000%, 5/01/22 | No Opt. Call | A+ | 565,800 | ||||||||||||||
460 | Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013B, 5.000%, 1/01/19 (Alternative Minimum Tax) | 1/17 at 100.00 | BBB | 488,580 | ||||||||||||||
30 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011A, 5.250%, 10/01/23 | 10/21 at 100.00 | AA | 34,972 | ||||||||||||||
60 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Refunding Series 2006, 5.500%, 1/01/20 – NPFG Insured | No Opt. Call | A+ | 70,902 | ||||||||||||||
2,805 | Total Indiana | 3,059,409 | ||||||||||||||||
Iowa – 2.4% | ||||||||||||||||||
1,000 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19 | No Opt. Call | BB– | 971,880 |
Nuveen Investments | 63 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Inflation Protected Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Iowa (continued) | ||||||||||||||||||
$ | 1,000 | Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Wartburg College, Series 2005A, 5.000%, 10/01/23 | 4/14 at 100.00 | BB | $ | 982,350 | ||||||||||||
2,000 | Total Iowa | 1,954,230 | ||||||||||||||||
Kansas – 3.2% | ||||||||||||||||||
600 | Kansas State Power Pool, Electric Utility Revenue Bonds, Dogwood Energy Facility, Series 2012A, 5.000%, 12/01/19 | No Opt. Call | Baa1 | 666,132 | ||||||||||||||
1,025 | Wyandotte County/Kansas City Unified Government Board of Utilities, Kansas, Utility System Revenue Bonds, Series 2012B, 5.000%, 9/01/23 | No Opt. Call | A+ | 1,179,273 | ||||||||||||||
1,225 | Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 | No Opt. Call | BBB+ | 817,688 | ||||||||||||||
2,850 | Total Kansas | 2,663,093 | ||||||||||||||||
Kentucky – 1.9% | ||||||||||||||||||
125 | Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro Medical Health System, Series 2010A, 5.500%, 6/01/21 | 6/20 at 100.00 | BBB+ | 139,968 | ||||||||||||||
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1: | ||||||||||||||||||
380 | 5.750%, 12/01/28 – AGC Insured | 6/18 at 100.00 | AA– | 394,204 | ||||||||||||||
525 | 6.000%, 12/01/33 – AGC Insured | 6/18 at 100.00 | AA– | 526,633 | ||||||||||||||
115 | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A2, 0.000%, 12/01/22 – AGC Insured | No Opt. Call | AA– | 73,003 | ||||||||||||||
200 | Kentucky Infrastructure Authority, Wastewater and Drinking Water Revolving Fund Revenue Bonds, Series 2012A, 5.000%, 2/01/27 (5) | 2/22 at 100.00 | AAA | 227,114 | ||||||||||||||
130 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 85, Series 2005, 5.000%, 8/01/15 – AGM Insured | No Opt. Call | AA– | 140,405 | ||||||||||||||
110 | Louisville-Jefferson County Metropolitan Government, Kentucky, Environmental Facilities Revenue, Louisville Gas & Electric Company Project, Series 2007B, 1.600%, 6/01/33 (Mandatory put 6/01/17) | No Opt. Call | A– | 111,034 | ||||||||||||||
1,585 | Total Kentucky | 1,612,361 | ||||||||||||||||
Louisiana – 3.8% | ||||||||||||||||||
100 | Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East Jefferson General Hospital, Refunding Series 2011, 5.625%, 7/01/26 | 7/21 at 100.00 | BBB– | 106,686 | ||||||||||||||
200 | Louisiana Offshore Terminal Authority, Deepwater Port Revenue Refunding Bonds, LOOP Inc. Project, Series 2007B-1A, 1.375%, 10/01/37 (Mandatory put 10/01/16) | No Opt. Call | A– | 200,970 | ||||||||||||||
1,000 | Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 5.000%, 7/01/23 | No Opt. Call | A | 1,131,300 | ||||||||||||||
500 | New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2012, 5.000%, 12/01/27 – AGM Insured | 12/22 at 100.00 | AA– | 537,030 | ||||||||||||||
1,015 | Regional Transit Authority, Louisiana, Sales Tax Revenue Bonds, Series 2010, 5.000%, 12/01/19 – AGM Insured (5) | No Opt. Call | AA– | 1,188,616 | ||||||||||||||
2,815 | Total Louisiana | 3,164,602 | ||||||||||||||||
Maine – 0.8% | ||||||||||||||||||
250 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/25 | 7/23 at 100.00 | Baa1 | 271,645 | ||||||||||||||
165 | Maine Turnpike Authority, Turnpike Revenue Bonds, Series 2012A, 5.000%, 7/01/37 | 7/22 at 100.00 | AA– | 174,006 | ||||||||||||||
175 | Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013, 5.000%, 7/01/23 | No Opt. Call | BBB+ | 196,749 | ||||||||||||||
590 | Total Maine | 642,400 | ||||||||||||||||
Massachusetts – 1.1% | ||||||||||||||||||
140 | Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior Lien Series 2010B, 5.000%, 1/01/32 | 1/20 at 100.00 | A+ | 145,328 | ||||||||||||||
100 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health, Series 2011H, 5.000%, 7/01/21 | No Opt. Call | BBB+ | 111,144 | ||||||||||||||
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A: | ||||||||||||||||||
530 | 5.000%, 1/01/21 – AMBAC Insured | 1/14 at 100.00 | N/R | 519,654 | ||||||||||||||
110 | 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 101,204 | ||||||||||||||
880 | Total Massachusetts | 877,330 |
64 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Michigan – 5.6% | ||||||||||||||||||
$ | 85 | Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2002A, 6.000%, 5/01/21 – FGIC Insured | No Opt. Call | Aa2 | $ | 99,998 | ||||||||||||
1,000 | Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2005, 5.250%, 5/01/26 – AGM Insured | No Opt. Call | Aa2 | 1,066,870 | ||||||||||||||
75 | Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development Area 1 Projects, Series 1996C-1, 0.000%, 7/01/21 | No Opt. Call | A– | 46,427 | ||||||||||||||
505 | Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 – NPFG Insured | 7/15 at 100.00 | A | 456,060 | ||||||||||||||
500 | Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 7/01/29 – FGIC Insured | No Opt. Call | A | 486,660 | ||||||||||||||
220 | Detroit, Michigan, Sewerage Disposal System Revenue Bonds, Series 1999A, 0.000%, 7/01/21 – FGIC Insured | No Opt. Call | A | 137,555 | ||||||||||||||
350 | Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2006A, 5.250%, 7/01/19 – NPFG Insured | 7/16 at 100.00 | A | 349,990 | ||||||||||||||
420 | Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 1997A, 6.000%, 7/01/15 – NPFG Insured | No Opt. Call | A | 423,994 | ||||||||||||||
Detroit-Wayne County Stadium Authority, Michigan, Wayne County Limited Tax General Obligation Bonds, Building Authority Stadium Refunding Series 2012: | ||||||||||||||||||
200 | 5.000%, 10/01/17 | No Opt. Call | BBB– | 216,674 | ||||||||||||||
500 | 5.000%, 10/01/19 – AGM Insured | No Opt. Call | AA– | 553,905 | ||||||||||||||
190 | 5.000%, 10/01/20 – AGM Insured | No Opt. Call | AA– | 209,576 | ||||||||||||||
85 | Michigan Finance Authority, Public School Academy Limited Obligation Revenue and Refunding Bonds, Detroit Service Learning Academy Project, Series 2011, 6.000%, 10/01/21 | No Opt. Call | BB+ | 89,250 | ||||||||||||||
110 | Michigan Finance Authority, Unemployment Obligation Assessment Revenue Bonds, Series 2012B, 5.000%, 7/01/22 | 7/16 at 100.00 | AAA | 120,414 | ||||||||||||||
125 | Michigan State, General Obligation Refunding Bonds, Series 2002, 5.500%, 12/01/15 | No Opt. Call | Aa2 | 137,955 | ||||||||||||||
200 | Wayne Charter County, Michigan, General Obligation Bonds, Capital Improvements Series 2008A, 4.500%, 2/01/27 – AGM Insured | 2/18 at 100.00 | AA– | 200,666 | ||||||||||||||
4,565 | Total Michigan | 4,595,994 | ||||||||||||||||
Minnesota – 0.4% | ||||||||||||||||||
335 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/15 – AGC Insured | No Opt. Call | AA– | 353,381 | ||||||||||||||
Montana – 0.3% | ||||||||||||||||||
250 | Billings, Montana, Tax Increment Urban Renewal Revenue Bonds, Expanded North 27th Street, Series 2013A, 4.375%, 7/01/29 | 1/23 at 100.00 | N/R | 221,910 | ||||||||||||||
Nebraska – 0.9% | ||||||||||||||||||
185 | Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.000%, 12/01/14 | No Opt. Call | A | 192,585 | ||||||||||||||
200 | Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Refunding Series 2012A, 5.000%, 4/01/24 | 4/22 at 100.00 | A | 226,612 | ||||||||||||||
295 | Nebraska Public Power District, General Revenue Bonds, Series 2012A, 5.000%, 1/01/25 | 1/22 at 100.00 | A1 | 334,471 | ||||||||||||||
680 | Total Nebraska | 753,668 | ||||||||||||||||
Nevada – 0.8% | ||||||||||||||||||
365 | Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/23 – AGM Insured | 7/19 at 100.00 | AA– | 410,662 | ||||||||||||||
230 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B, 5.000%, 6/01/25 | 6/22 at 100.00 | AA+ | 260,089 | ||||||||||||||
595 | Total Nevada | 670,751 | ||||||||||||||||
New Jersey – 3.4% | ||||||||||||||||||
440 | New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 6.250%, 9/15/19 (Alternative Minimum Tax) | 3/14 at 100.00 | B | 427,834 | ||||||||||||||
1,000 | New Jersey Educational Facilities Authority, Revenue Bonds, Drew University, Series 2003C, 5.250%, 7/01/20 – FGIC Insured | No Opt. Call | Baa1 | 1,127,290 | ||||||||||||||
110 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s Healthcare System Obligated Group Issue, Series 2008, 6.000%, 7/01/18 | No Opt. Call | BBB– | 121,272 | ||||||||||||||
175 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.500%, 12/15/23 | No Opt. Call | A+ | 209,475 |
Nuveen Investments | 65 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Inflation Protected Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New Jersey (continued) | ||||||||||||||||||
$ | 420 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2005B, 5.250%, 12/15/15 – AMBAC Insured | No Opt. Call | A+ | $ | 462,647 | ||||||||||||
200 | New Jersey Turnpike Authority, Revenue Bonds, Series 1991C, 6.500%, 1/01/16 | No Opt. Call | A3 | 225,292 | ||||||||||||||
50 | New Jersey Turnpike Authority, Revenue Bonds, Series 1991C, 6.500%, 1/01/16 (ETM) | No Opt. Call | A3 (4) | 56,579 | ||||||||||||||
210 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.500%, 6/01/23 | 6/17 at 100.00 | B1 | 194,998 | ||||||||||||||
2,605 | Total New Jersey | 2,825,387 | ||||||||||||||||
New York – 3.5% | ||||||||||||||||||
250 | Dormitory Authority of the State of New York, Insured Revenue Bonds, Pace University, Series 2013A, 5.000%, 5/01/23 | No Opt. Call | BBB– | 271,115 | ||||||||||||||
300 | Dormitory Authority of the State of New York, Revenue Bonds, Culinary Institute of America, Series 2012, 5.000%, 7/01/21 | No Opt. Call | Baa2 | 335,265 | ||||||||||||||
445 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F, 5.000%, 5/01/18 – NPFG Insured | 11/16 at 100.00 | A | 490,706 | ||||||||||||||
205 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/19 | No Opt. Call | A | 240,348 | ||||||||||||||
240 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005C, 5.250%, 11/15/14 | No Opt. Call | A | 252,566 | ||||||||||||||
370 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher College, Series 2012A, 5.000%, 6/01/25 | 6/22 at 100.00 | Aa3 | 396,048 | ||||||||||||||
500 | New York City Industrial Development Agency, New York, American Airlines-JFK International Airport Special Facility Revenue Bonds, Series 2005, 7.625%, 8/01/25 (Alternative Minimum Tax) | 8/16 at 101.00 | N/R | 542,390 | ||||||||||||||
180 | New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2009A-1, 5.000%, 12/15/16 (5) | No Opt. Call | AAA | 204,811 | ||||||||||||||
100 | Onongada County Trust For Cultural Resources, New York, Revenue Bonds, Syracuse University Project, Series 2011, 5.000%, 12/01/21 | No Opt. Call | AA– | 119,044 | ||||||||||||||
60 | Tobacco Settlement Financing Corporation, New York, Asset-Backed Revenue Bonds, State Contingency Contract Secured, Series 2011B, 5.000%, 6/01/18 | No Opt. Call | AA– | 69,853 | ||||||||||||||
2,650 | Total New York | 2,922,146 | ||||||||||||||||
North Carolina – 2.8% | ||||||||||||||||||
335 | North Carolina Agricultural & Technical State University, General Revenue Bonds, Series 2013, 4.000%, 10/01/21 | No Opt. Call | A1 | 364,229 | ||||||||||||||
200 | North Carolina Capital Facilities Finance Agency, Revenue Bonds, The Methodist University, Series 2012, 5.000%, 3/01/19 | No Opt. Call | BBB | 224,282 | ||||||||||||||
530 | North Carolina Medical Care Commission, Health Care Facilities Revenue and Refunding Revenue Bonds, Columbus Regional Healthcare System, Series 2013A, 4.000%, 10/01/18 | No Opt. Call | BBB | 566,745 | ||||||||||||||
100 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Series 2009A, 5.625%, 10/01/38 (Pre-refunded 10/01/14) – AGC Insured | 10/14 at 100.00 | AA– (4) | 105,004 | ||||||||||||||
775 | North Carolina Turnpike Authority, Monroe Connector System State Appropriation Bonds, Series 2011, 5.000%, 7/01/21 | No Opt. Call | AA | 926,125 | ||||||||||||||
145 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.250%, 1/01/23 – AGC Insured | 1/19 at 100.00 | AA– | 160,941 | ||||||||||||||
2,085 | Total North Carolina | 2,347,326 | ||||||||||||||||
North Dakota – 0.5% | ||||||||||||||||||
400 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012, 4.000%, 12/01/21 | No Opt. Call | A– | 413,228 | ||||||||||||||
Ohio – 7.1% | ||||||||||||||||||
100 | Akron, Ohio, Waterworks System Mortgage Revenue Improvement and Refunding Bonds, Series 2009, 5.000%, 3/01/17 – AGC Insured | No Opt. Call | A3 | 113,143 | ||||||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-1: | ||||||||||||||||||
175 | 5.000%, 6/01/16 | No Opt. Call | A1 | 187,828 | ||||||||||||||
165 | 5.000%, 6/01/17 | No Opt. Call | Baa1 | 180,475 |
66 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Ohio (continued) | ||||||||||||||||||
$ | 500 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.125%, 6/01/24 | 6/17 at 100.00 | B– | $ | 427,350 | ||||||||||||
265 | Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series 1993G, 5.500%, 1/01/21 – NPFG Insured | No Opt. Call | Aa1 | 315,268 | ||||||||||||||
285 | Cuyhoga County, Ohio, Recovery Zone Facility Economic Development Revenue Bonds, Medical Mart- Convention Center Project, Series 2010F, 5.250%, 12/01/25 | 12/20 at 100.00 | Aa2 | 319,043 | ||||||||||||||
2,000 | Kings Local School District, Warren County, Ohio, General Obligation Bonds, School Improvement Series 2013A, 0.000%, 12/01/26 | No Opt. Call | AA | 1,167,000 | ||||||||||||||
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C: | ||||||||||||||||||
1,000 | 5.000%, 10/01/22 | No Opt. Call | A1 | 1,152,470 | ||||||||||||||
140 | 5.000%, 10/01/24 | 10/22 at 100.00 | A1 | 156,244 | ||||||||||||||
635 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19 | No Opt. Call | BBB– | 695,338 | ||||||||||||||
470 | Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 – FGIC Insured (5) | No Opt. Call | AA | 555,263 | ||||||||||||||
500 | Springboro, Ohio, Sewer System Mortgage Revenue Bonds, Refunding Series 2012, 5.000%, 6/01/21 | No Opt. Call | Aa3 | 581,395 | ||||||||||||||
6,235 | Total Ohio | 5,850,817 | ||||||||||||||||
Pennsylvania – 6.3% | ||||||||||||||||||
840 | Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012, 5.000%, 1/01/24 | No Opt. Call | BBB– | 882,806 | ||||||||||||||
645 | Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 | 10/19 at 100.00 | BBB+ | 702,728 | ||||||||||||||
210 | Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B, 5.000%, 1/01/21 | 1/19 at 100.00 | Aaa | 243,682 | ||||||||||||||
Pennsylvania Higher Educational Facilities Authority, Philadelphia University Refunding Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
740 | 5.000%, 6/01/19 | No Opt. Call | BBB | 831,027 | ||||||||||||||
890 | 5.000%, 6/01/20 | No Opt. Call | BBB | 994,851 | ||||||||||||||
935 | 5.000%, 6/01/21 | No Opt. Call | BBB | 1,040,926 | ||||||||||||||
135 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A, 5.000%, 12/01/24 – AMBAC Insured | 6/16 at 100.00 | A+ | 144,778 | ||||||||||||||
155 | Pennsylvania, General Obligation Bonds, Refunding 3rd Series 2004, 5.375%, 7/01/16 – NPFG Insured | No Opt. Call | AA | 175,255 | ||||||||||||||
200 | Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012B, 5.000%, 9/01/24 – AGM Insured | 9/22 at 100.00 | A1 | 225,474 | ||||||||||||||
4,750 | Total Pennsylvania | 5,241,527 | ||||||||||||||||
Rhode Island – 1.3% | ||||||||||||||||||
895 | Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Bonds, Providence College, Refunding Series 2012B, 5.000%, 11/01/22 | No Opt. Call | A | 1,039,847 | ||||||||||||||
South Carolina – 1.2% | ||||||||||||||||||
500 | Connector 2000 Association Inc., South Carolina, Senior Lien Toll Road Revenue Bonds, Series 2011A, 0.000%, 1/01/16 | No Opt. Call | N/R | 369,985 | ||||||||||||||
585 | Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2012A, 5.000%, 1/01/25 | 1/22 at 100.00 | A– | 646,396 | ||||||||||||||
1,085 | Total South Carolina | 1,016,381 | ||||||||||||||||
South Dakota – 0.2% | ||||||||||||||||||
120 | South Dakota Educational Enhancement Funding Corporation, Tobacco Settlement Revenue Bonds Series 2013B, 5.000%, 6/01/24 | 6/23 at 100.00 | A– | 133,117 | ||||||||||||||
Tennessee – 0.6% | ||||||||||||||||||
245 | Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2004, 5.000%, 10/01/18 – AGM Insured | No Opt. Call | AA– | 279,621 | ||||||||||||||
200 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/26 | No Opt. Call | A | 216,566 | ||||||||||||||
445 | Total Tennessee | 496,187 | ||||||||||||||||
Texas – 6.3% | ||||||||||||||||||
500 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, First Tier Series 2006A, 5.250%, 1/01/18 – SYNCORA GTY Insured | 1/17 at 100.00 | BB+ | 518,540 |
Nuveen Investments | 67 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Inflation Protected Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
$ | 1,150 | Brazoria County, Texas, Certificates of Obligation, Series 2012, 5.000%, 3/01/21 (5) | No Opt. Call | AA+ | $ | 1,362,451 | ||||||||||||
500 | Central Texas Regional Mobility Authority, Texas, Revenue Bonds, Subordinate Lien Refunding Series 2013, 5.000%, 1/01/23 | No Opt. Call | Baa3 | 501,425 | ||||||||||||||
215 | Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax) | 10/22 at 100.00 | BB+ | 204,893 | ||||||||||||||
125 | Harris County-Houston Sports Authority, Texas, Junior Lien Special Revenue Bonds, Series 1998B, 0.000%, 11/15/14 – NPFG Insured | 11/13 at 92.35 | A | 118,378 | ||||||||||||||
855 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/23 – NPFG Insured | No Opt. Call | A | 476,004 | ||||||||||||||
230 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/31 – NPFG Insured | 11/24 at 66.52 | A | 71,663 | ||||||||||||||
170 | Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2011B, 5.000%, 7/01/25 | 7/21 at 100.00 | A+ | 188,945 | ||||||||||||||
220 | Newark Cultural Education Facilities Finance Corporation, Texas, Lease Revenue Bonds, A.W. Brown-Fellowship Leadership Academy, Series 2012A, 6.000%, 8/15/32 | 2/15 at 103.00 | BBB– | 219,485 | ||||||||||||||
200 | North Texas Tollway Authority, System First Tier Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/21 | No Opt. Call | A2 | 226,718 | ||||||||||||||
615 | Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series 2012, 5.000%, 10/01/18 | No Opt. Call | BBB+ | 704,778 | ||||||||||||||
400 | Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 6.250%, 12/15/26 | No Opt. Call | A– | 468,880 | ||||||||||||||
150 | Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Series 2006A, 5.250%, 12/15/21 | No Opt. Call | A– | 167,148 | ||||||||||||||
5,330 | Total Texas | 5,229,308 | ||||||||||||||||
Utah – 1.7% | ||||||||||||||||||
305 | Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2012, 5.000%, 5/15/23 | 5/21 at 100.00 | AA+ | 347,636 | ||||||||||||||
935 | Utah Transit Authority, Sales Tax Revenue and Refunding Bonds, Series 2012, 5.000%, 6/15/22 | No Opt. Call | A1 | 1,083,824 | ||||||||||||||
1,240 | Total Utah | 1,431,460 | ||||||||||||||||
Virginia – 1.3% | ||||||||||||||||||
350 | Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Series 2012A, 5.000%, 7/15/22 | No Opt. Call | BBB | 384,342 | ||||||||||||||
Route 460 Funding Corporation, Virginia, Toll Road Revenue Bonds, Series 2012B: | ||||||||||||||||||
200 | 0.000%, 7/01/25 | No Opt. Call | BBB– | 107,962 | ||||||||||||||
690 | 0.000%, 7/01/26 | No Opt. Call | BBB– | 347,194 | ||||||||||||||
250 | Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012, 5.250%, 1/01/32 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB– | 248,823 | ||||||||||||||
1,490 | Total Virginia | 1,088,321 | ||||||||||||||||
Washington – 2.4% | ||||||||||||||||||
1,000 | Issaquah School District 411, King County, Washington, General Obligation Bonds, Refunding Series 2012, 5.000%, 12/01/25 | 12/22 at 100.00 | Aaa | 1,146,610 | ||||||||||||||
265 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Refunding Series 2012A, 5.000%, 8/01/26 | 8/22 at 100.00 | Aa3 | 295,608 | ||||||||||||||
500 | Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012, 4.000%, 12/01/19 | No Opt. Call | Baa3 | 525,160 | ||||||||||||||
1,765 | Total Washington | 1,967,378 | ||||||||||||||||
Wisconsin – 2.0% | ||||||||||||||||||
130 | University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Refunding Series 2013A, 5.000%, 4/01/21 | No Opt. Call | Aa3 | 147,440 | ||||||||||||||
1,015 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian HealthCare, Inc., Series 2013B, 5.000%, 7/01/24 | 7/23 at 100.00 | A– | 1,116,602 | ||||||||||||||
145 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Healthcare System, Series 2006A, 5.250%, 8/15/18 | 8/16 at 100.00 | A– | 156,397 | ||||||||||||||
205 | Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 5.250%, 5/01/20 | 5/19 at 100.00 | AA– | 241,908 | ||||||||||||||
1,495 | Total Wisconsin | 1,662,347 |
68 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Wyoming – 0.2% | ||||||||||||||||||
$ | 180 | Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John’s Medical Center Project, Series 2011B, 5.000%, 12/01/21 | No Opt. Call | BBB | $ | 196,268 | ||||||||||||
$ | 83,930 | Total Long-Term Investments (cost $88,319,616) – 103.2% | 85,434,309 | |||||||||||||||
|
| |||||||||||||||||
Other Assets Less Liabilities – (3.2)% (6) | (2,609,408 | ) | ||||||||||||||||
Net Assets – 100% | $ | 82,824,901 |
Investments in Derivatives as of October 31, 2013
Consumer Price Index Swaps outstanding:
Counterparty | Notional Amount | Fund Pay/Receive Floating Rate | Floating Rate Index | Fixed Rate (Annualized) | Fixed Rate Payment Frequency (8) | Effective Date (7) | Termination Date | Unrealized Appreciation (Depreciation) (6) | ||||||||||||||||||||||||
Barclays PLC | $ | 4,000,000 | Receive | CPURNSA | 2.560 | % | 12/31/18 | 12/28/12 | 12/28/18 | $ | (136,138 | ) | ||||||||||||||||||||
Barclays PLC | 4,500,000 | Receive | CPURNSA | 2.645 | 12/30/19 | 12/28/12 | 12/28/19 | (172,337 | ) | |||||||||||||||||||||||
Barclays PLC | 5,000,000 | Receive | CPURNSA | 2.693 | 2/03/20 | 2/01/13 | 2/01/20 | (185,518 | ) | |||||||||||||||||||||||
Barclays PLC | 5,000,000 | Receive | CPURNSA | 2.600 | 2/06/18 | 2/05/13 | 2/05/18 | (160,663 | ) | |||||||||||||||||||||||
Barclays PLC | 3,500,000 | Receive | CPURNSA | 2.509 | 2/11/19 | 2/08/13 | 2/08/19 | (89,190 | ) | |||||||||||||||||||||||
Barclays PLC | 8,000,000 | Receive | CPURNSA | 2.777 | 2/21/22 | 2/19/13 | 2/19/22 | (320,234 | ) | |||||||||||||||||||||||
Barclays PLC | 8,000,000 | Receive | CPURNSA | 2.773 | 4/04/23 | 4/03/13 | 4/03/23 | (282,842 | ) | |||||||||||||||||||||||
Barclays PLC | 6,000,000 | Receive | CPURNSA | 2.568 | 5/21/24 | 5/20/13 | 5/20/24 | (71,586 | ) | |||||||||||||||||||||||
Barclays PLC | 3,800,000 | Receive | CPURNSA | 2.480 | 5/25/18 | 5/24/13 | 5/24/18 | (95,923 | ) | |||||||||||||||||||||||
Barclays PLC | 5,500,000 | Receive | CPURNSA | 2.645 | 10/01/21 | 9/30/13 | 9/30/21 | (117,165 | ) | |||||||||||||||||||||||
JPMorgan | 5,000,000 | Receive | CPURNSA | 2.350 | 3/16/16 | 3/15/13 | 3/15/16 | (89,999 | ) | |||||||||||||||||||||||
JPMorgan | 5,000,000 | Receive | CPURNSA | 2.655 | 3/18/19 | 3/15/13 | 3/15/19 | (163,052 | ) | |||||||||||||||||||||||
JPMorgan | 4,000,000 | Receive | CPURNSA | 2.600 | 4/25/23 | 4/24/13 | 4/24/23 | (82,659 | ) | |||||||||||||||||||||||
Morgan Stanley | 6,000,000 | Receive | CPURNSA | 2.714 | 3/01/21 | 2/27/13 | 2/27/21 | (210,821 | ) | |||||||||||||||||||||||
Morgan Stanley | 4,000,000 | Receive | CPURNSA | 2.700 | 4/11/22 | 4/08/13 | 4/08/22 | (125,307 | ) | |||||||||||||||||||||||
Morgan Stanley | 3,000,000 | Receive | CPURNSA | 2.650 | 8/08/24 | 8/07/13 | 8/07/24 | (38,756 | ) | |||||||||||||||||||||||
Morgan Stanley | 3,750,000 | Receive | CPURNSA | 2.440 | 9/28/17 | 9/27/13 | 9/27/17 | (65,113 | ) | |||||||||||||||||||||||
Morgan Stanley | 3,800,000 | Receive | CPURNSA | 2.595 | 11/06/18 | 11/05/13 | 11/05/18 | (86,712 | ) | |||||||||||||||||||||||
Morgan Stanley | 3,000,000 | Receive | CPURNSA | 2.468 | 11/15/16 | 11/14/13 | 11/14/16 | (51,727 | ) | |||||||||||||||||||||||
$ | 90,850,000 | $ | (2,545,742 | ) |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
(3) | Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives transactions. |
(6) | Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments as listed within Investments in Derivatives as of the end of the reporting period. |
(7) | Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each consumer price index swap contract. |
(8) | Fixed Rate Payment is due one business day after contract Termination Date. |
(ETM) | Escrowed to maturity. |
CPURNSA | US CPI Urban Consumers Non-Seasonally Adjusted. |
See accompanying notes to financial statements.
Nuveen Investments | 69 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 98.1% | ||||||||||||||||||
MUNICIPAL BONDS – 98.1% | ||||||||||||||||||
Alabama – 0.8% | ||||||||||||||||||
Birmingham Special Care Facilities Financing Authority, Alabama, Revenue Bonds, Baptist Health System Inc., Seriess 2005A: | ||||||||||||||||||
$ | 3,000 | 5.250%, 11/15/16 | 11/15 at 100.00 | Baa2 | $ | 3,175,890 | ||||||||||||
2,290 | 5.250%, 11/15/20 | 11/15 at 100.00 | Baa2 | 2,353,502 | ||||||||||||||
Health Care Authority for Baptist Health, Alabama, Revenue Bonds, Baptist Health, Series 2006D: | ||||||||||||||||||
1,575 | 5.000%, 11/15/15 | No Opt. Call | A3 | 1,669,012 | ||||||||||||||
2,935 | 5.000%, 11/15/16 | 11/15 at 100.00 | A3 | 3,092,551 | ||||||||||||||
1,130 | Huntsville, Alabama, Electric System Revenue Warrants, Refunding Series 2007, 4.000%, 12/01/18 – AGM Insured | 12/17 at 100.00 | AA+ | 1,251,486 | ||||||||||||||
10,000 | Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds, Series 2004A, 5.250%, 1/01/14 | No Opt. Call | B | 10,000,000 | ||||||||||||||
2,000 | Mobile, Alabama, General Obligation Warrants, Improvement and Refunding Series 2008B, 5.000%, 2/15/20 | 2/18 at 100.00 | Aa2 | 2,242,880 | ||||||||||||||
1,645 | Pell City, Alabama, Special Care Facilities Financing Authority, Revenue Bonds, Noland Health Services, Series 2007A, 5.000%, 12/01/14 (ETM) | No Opt. Call | Aaa | 1,730,096 | ||||||||||||||
University of Alabama, Birmingham, Hospital Revenue Bonds, Birmingham Hospital, Series 2008A: | ||||||||||||||||||
1,500 | 5.000%, 9/01/18 | No Opt. Call | A+ | 1,741,425 | ||||||||||||||
4,000 | 5.750%, 9/01/22 | 9/18 at 100.00 | A+ | 4,487,160 | ||||||||||||||
30,075 | Total Alabama | 31,744,002 | ||||||||||||||||
Alaska – 0.2% | ||||||||||||||||||
3,000 | Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/21 | 4/20 at 100.00 | A1 | 3,399,330 | ||||||||||||||
400 | Aleutians East Burough Project, Alaska, Revenue Bonds, Series 2006, 4.375%, 6/01/15 – ACA Insured | No Opt. Call | N/R | 397,064 | ||||||||||||||
6,000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32 | 6/14 at 100.00 | B2 | 4,582,860 | ||||||||||||||
9,400 | Total Alaska | 8,379,254 | ||||||||||||||||
Arizona – 4.1% | ||||||||||||||||||
4,120 | Arizona Board of Regents, Certificates of Participation, University of Arizona Projects, Refunding Series 2007B, 4.500%, 6/01/18 – AMBAC Insured | 6/17 at 100.00 | AA– | 4,554,495 | ||||||||||||||
Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A: | ||||||||||||||||||
1,220 | 5.000%, 2/01/20 | No Opt. Call | BBB+ | 1,354,139 | ||||||||||||||
6,255 | 5.000%, 2/01/27 | 2/22 at 100.00 | BBB+ | 6,374,471 | ||||||||||||||
1,000 | Arizona Health Facilities Authority, Revenue Bonds, Blood Systems Inc., Series 2004, 5.000%, 4/01/17 | 4/14 at 100.00 | A | 1,019,330 | ||||||||||||||
Arizona Sports and Tourism Authority, Senior Revenue Refunding Bonds, Multipurpose Stadium Facility Project, Series 2012A: | ||||||||||||||||||
10,270 | 5.000%, 7/01/25 | 7/22 at 100.00 | A1 | 11,316,000 | ||||||||||||||
16,235 | 5.000%, 7/01/26 | 7/22 at 100.00 | A1 | 17,686,734 | ||||||||||||||
16,760 | 5.000%, 7/01/27 | 7/22 at 100.00 | A1 | 17,989,178 | ||||||||||||||
150 | Arizona State Game and Fish Department and Commission, Beneficial Interest Certificates in Lease Purchase Agreement, AGF Administration Building Project, Series 2006, 4.500%, 7/01/15 | No Opt. Call | A3 | 158,643 | ||||||||||||||
1,995 | Arizona State, Certificates of Participation, Series 2008A, 4.000%, 9/01/17 – AGM Insured | No Opt. Call | AA– | 2,178,779 | ||||||||||||||
Arizona State, State Lottery Revenue Bonds, Series 2010A: | ||||||||||||||||||
30 | 5.000%, 7/01/17 – AGM Insured | No Opt. Call | AA | 34,234 | ||||||||||||||
40 | 5.000%, 7/01/18 – AGM Insured | No Opt. Call | AA | 46,523 | ||||||||||||||
5,120 | 5.000%, 7/01/19 – AGM Insured | No Opt. Call | AA | 5,991,475 | ||||||||||||||
5,015 | 5.000%, 7/01/20 – AGM Insured | No Opt. Call | AA | 5,864,290 | ||||||||||||||
6,130 | 5.000%, 7/01/21 – AGM Insured | 1/20 at 100.00 | AA | 6,972,569 | ||||||||||||||
7,500 | 5.000%, 7/01/22 – AGM Insured | 1/20 at 100.00 | AA | 8,435,175 |
70 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Arizona (continued) | ||||||||||||||||||
Gila County Unified School District 10 Payson, Arizona, General Obligation Bonds, Project of 2006, Series 2007A: | ||||||||||||||||||
$ | 1,000 | 5.000%, 7/01/16 – AMBAC Insured | No Opt. Call | Aa3 | $ | 1,103,870 | ||||||||||||
1,050 | 5.000%, 7/01/17 – AMBAC Insured | No Opt. Call | Aa3 | 1,187,067 | ||||||||||||||
6,000 | Gilbert, Arizona, Public Facilities Municipal Property Corporation, Revenue Bonds, Series 2009, 5.500%, 7/01/27 | 7/19 at 100.00 | AA | 6,534,420 | ||||||||||||||
2,810 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, John C. Lincoln Health Network, Series 2005B, 5.250%, 12/01/20 | 12/15 at 100.00 | BBB+ | 2,938,614 | ||||||||||||||
2,000 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2007, 5.000%, 5/15/26 | 5/22 at 100.00 | A– | 2,129,020 | ||||||||||||||
1,355 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/21 | 5/20 at 100.00 | A+ | 1,482,804 | ||||||||||||||
565 | Maricopa County Unified School District 48, Scottsdale, Arizona, General Obligation Bonds, Series 2006B, 4.750%, 7/01/18 – AGM Insured | 7/16 at 100.00 | Aa1 | 618,895 | ||||||||||||||
Maricopa County Unified School District 48, Scottsdale, Arizona, General Obligation Bonds, Series 2006B: | ||||||||||||||||||
295 | 4.750%, 7/01/18 (Pre-refunded 7/01/16) – AGM Insured | 7/16 at 100.00 | Aa1 (4) | 328,544 | ||||||||||||||
290 | 4.750%, 7/01/18 (Pre-refunded 7/01/16) – AGM Insured | 7/16 at 100.00 | Aa1 (4) | 322,976 | ||||||||||||||
2,740 | Maricopa County, Arizona, Hospital Revenue Bonds, Sun Health Corporation, Series 2005, 5.000%, 4/01/14 (ETM) | No Opt. Call | N/R (4) | 2,795,101 | ||||||||||||||
3,670 | Mesa, Arizona, Excise Tax Revenue Bonds, Series 2013, 5.000%, 7/01/27 | 7/17 at 100.00 | AA+ | 3,991,492 | ||||||||||||||
Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A: | ||||||||||||||||||
2,000 | 5.000%, 7/01/22 | 7/20 at 100.00 | A+ | 2,274,320 | ||||||||||||||
10,370 | 5.000%, 7/01/40 | 7/20 at 100.00 | A+ | 10,480,544 | ||||||||||||||
2,650 | Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company Project, Series 2013A, 4.000%, 9/01/29 | 3/23 at 100.00 | BBB | 2,383,861 | ||||||||||||||
1,200 | Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Refunding Series 2008, 5.750%, 9/01/29 | 1/15 at 100.00 | BBB | 1,223,388 | ||||||||||||||
Pima County Unified School District 1, Tucson, Arizona, School Improvement Bonds, Series 2007C: | ||||||||||||||||||
1,000 | 4.375%, 7/01/18 – FGIC Insured | 7/17 at 100.00 | Aa2 | 1,105,790 | ||||||||||||||
1,000 | 4.500%, 7/01/19 – FGIC Insured | 7/17 at 100.00 | Aa2 | 1,093,340 | ||||||||||||||
2,670 | Pima County, Arizona, Sewer Revenue Bonds, Series 2010, 5.000%, 7/01/24 – AGM Insured | 7/20 at 100.00 | AA– | 3,009,304 | ||||||||||||||
11,000 | Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2003, 5.000%, 12/01/14 (Pre-refunded 12/01/13) – NPFG Insured | 12/13 at 100.00 | Aa2 (4) | 11,044,660 | ||||||||||||||
3,000 | Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2009A, 5.000%, 1/01/25 | No Opt. Call | Aa1 | 3,367,320 | ||||||||||||||
3,925 | Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Tender Option Bond Trust 3284, 13.696%, 6/01/19 (IF) | No Opt. Call | Aa1 | 5,867,836 | ||||||||||||||
1,000 | Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2008A, 5.000%, 9/01/20 | 9/18 at 100.00 | A2 | 1,087,360 | ||||||||||||||
1,350 | Sedona-Oak Creek Joint Unified School District 9, Coconino and Yavapi Counties, Arizona, General Obligation Bonds, School Improvement Project 2007, Series 2009B., 5.375%, 7/01/28 | 7/19 at 100.00 | Aa2 | 1,454,558 | ||||||||||||||
359 | Tempe Industrial Development Authority, Arizona, Senior Living Revenue Bonds, Friendship Village of Tempe Project, Refunding Series 2004A, 5.375%, 12/01/13 (ETM) | No Opt. Call | N/R (4) | 360,066 | ||||||||||||||
145,139 | Total Arizona | 158,161,185 | ||||||||||||||||
Arkansas – 0.9% | ||||||||||||||||||
1,490 | Conway, Arkansas, Restaurant Gross Receipts Tax Revenue Bonds, Series 2007, 5.000%, 12/01/22 – AGM Insured | 12/15 at 100.00 | AA– | 1,610,228 | ||||||||||||||
Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds, Series 2006A: | ||||||||||||||||||
6,730 | 5.000%, 11/01/17 – AGM Insured | 11/16 at 100.00 | AA– | 7,528,515 | ||||||||||||||
6,740 | 4.500%, 11/01/19 – AGM Insured | 11/16 at 100.00 | AA– | 7,287,558 | ||||||||||||||
Fort Smith, Arkansas, Water and Sewer Revenue Bonds, Series 2007: | ||||||||||||||||||
1,235 | 5.000%, 10/01/19 – FGIC Insured | 10/17 at 100.00 | A | 1,388,906 | ||||||||||||||
1,000 | 5.000%, 10/01/21 – FGIC Insured | 10/17 at 100.00 | A | 1,133,800 | ||||||||||||||
5,395 | Independence County, Arkansas, Pollution Control Revenue Bonds, Arkansas Power and Light Company Project, Series 2013, 2.375%, 1/01/21 | No Opt. Call | A– | 5,247,824 | ||||||||||||||
Magnolia, Arkansas, Sales and Use Tax Revenue Bonds, Series 2007: | ||||||||||||||||||
575 | 5.000%, 8/01/21 – CIFG Insured | 8/17 at 100.00 | N/R | 619,269 |
Nuveen Investments | 71 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Arkansas (continued) | ||||||||||||||||||
$ | 1,130 | 5.000%, 8/01/22 – CIFG Insured | 8/17 at 100.00 | N/R | $ | 1,210,162 | ||||||||||||
1,185 | 5.000%, 8/01/23 – CIFG Insured | 8/17 at 100.00 | N/R | 1,262,167 | ||||||||||||||
1,245 | 5.000%, 8/01/24 – CIFG Insured | 8/17 at 100.00 | N/R | 1,315,156 | ||||||||||||||
1,000 | North Little Rock Health Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 1996B, 5.750%, 12/01/21 | 12/18 at 100.00 | A+ | 1,114,960 | ||||||||||||||
1,000 | University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Series 2005B, 4.500%, 11/01/16 – FGIC Insured | 11/15 at 100.00 | Aa2 | 1,075,470 | ||||||||||||||
Washington County, Arkansas, Hospital Revenue Bonds, Washington Regional Medical Center, Series 2005B: | ||||||||||||||||||
1,270 | 5.000%, 2/01/14 | No Opt. Call | Baa1 | 1,283,500 | ||||||||||||||
1,000 | 5.000%, 2/01/17 | 2/15 at 100.00 | Baa1 | 1,040,040 | ||||||||||||||
1,165 | 5.000%, 2/01/18 | 2/15 at 100.00 | Baa1 | 1,208,688 | ||||||||||||||
32,160 | Total Arkansas | 34,326,243 | ||||||||||||||||
California – 7.3% | ||||||||||||||||||
1,215 | ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Revenue Bonds, Elder Care Alliance of Union City, Series 2004, 5.000%, 8/15/17 | 8/14 at 100.00 | A | 1,248,206 | ||||||||||||||
1,525 | ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, Childrens Hospital & Research Center at Oakland, Refunding Series 2007A, 4.500%, 12/01/18 | 12/17 at 100.00 | A– | 1,673,474 | ||||||||||||||
1,565 | ABC Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2003A, 4.900%, 2/01/20 – NPFG Insured | No Opt. Call | A+ | 1,767,934 | ||||||||||||||
2,000 | Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A, 0.000%, 10/01/14 – AMBAC Insured | No Opt. Call | BBB+ | 1,987,220 | ||||||||||||||
Alameda Corridor Transportation Authority, California, Senior Lien Revenue Refunding Bonds, Series 2013A: | ||||||||||||||||||
2,185 | 5.000%, 10/01/22 | No Opt. Call | A | 2,554,418 | ||||||||||||||
1,860 | 5.000%, 10/01/23 | No Opt. Call | A | 2,165,728 | ||||||||||||||
5,000 | 5.000%, 10/01/24 | 10/23 at 100.00 | A | 5,747,950 | ||||||||||||||
920 | Apple Valley Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2 Series 2007, 4.500%, 6/01/18 – AMBAC Insured | 6/17 at 100.00 | BBB+ | 976,985 | ||||||||||||||
1,060 | California Department of Water Resources, Power Supply Revenue Bonds, Refunding Series 2008H, 5.000%, 5/01/22 – AGM Insured | 5/18 at 100.00 | AA | 1,227,310 | ||||||||||||||
7,500 | California Department of Water Resources, Power Supply Revenue Bonds, Series 2010L, 5.000%, 5/01/17 | No Opt. Call | AA | 8,646,150 | ||||||||||||||
1,000 | California Educational Facilities Authority, Revenue Bonds, Lutheran University, Series 2004C, 5.000%, 10/01/24 | 10/14 at 100.00 | Baa1 | 1,008,430 | ||||||||||||||
12,250 | California Educational Facilities Authority, Revenue Bonds, University of Southern California, Series 2007A, 4.500%, 10/01/33 | 10/17 at 100.00 | Aa1 | 12,297,653 | ||||||||||||||
500 | California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Series 2009C, 5.125%, 3/01/20 | 3/19 at 100.00 | A | 563,500 | ||||||||||||||
4,440 | California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008H, 5.125%, 7/01/22 | 7/15 at 100.00 | A | 4,733,528 | ||||||||||||||
3,160 | California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital of Orange County, Series 2009A, 5.750%, 11/01/18 | No Opt. Call | A | 3,763,939 | ||||||||||||||
1,210 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Series 2008B, 1.450%, 8/15/33 (Mandatory put 3/15/17) | No Opt. Call | AA | 1,230,159 | ||||||||||||||
1,440 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Series 2012C, 1.450%, 8/15/23 (Mandatory put 3/15/17) | No Opt. Call | AA | 1,463,990 | ||||||||||||||
2,245 | California State Public Works Board, Lease Revenue Bonds, California State University Monterey Bay Campus Library Project, Series 2009D, 6.000%, 4/01/25 | 4/19 at 100.00 | Aa3 | 2,660,303 | ||||||||||||||
1,400 | California State Public Works Board, Lease Revenue Bonds, California State University, Various University Projects, Series 2010B-1, 5.375%, 3/01/25 | 3/20 at 100.00 | Aa3 | 1,566,740 | ||||||||||||||
8,075 | California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Series 2003C, 5.500%,s 6/01/14 | 12/13 at 100.00 | A2 | 8,110,934 | ||||||||||||||
3,940 | California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Series 2003C, 5.500%, 6/01/17 (Pre-refunded 12/01/13) | 12/13 at 100.00 | AAA | 3,957,415 | ||||||||||||||
5,000 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.250%, 10/01/24 | 10/19 at 100.00 | A2 | 5,553,350 |
72 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
California State, Economic Recovery Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||||
$ | 2,000 | 5.000%, 7/01/20 | 7/19 at 100.00 | Aa2 | $ | 2,360,200 | ||||||||||||
6,000 | 5.250%, 7/01/21 | 7/19 at 100.00 | Aa2 | 7,161,420 | ||||||||||||||
5,945 | California State, Economic Recovery Revenue Bonds, Series 2004A, 5.250%, 7/01/14 | No Opt. Call | Aa2 | 6,147,546 | ||||||||||||||
1,825 | California State, Economic Recovery Revenue Bonds, Series 2004A, 5.250%, 7/01/14 (ETM) | No Opt. Call | Aaa | 1,887,050 | ||||||||||||||
500 | California State, General Obligation Bonds, Series 2004, 5.125%, 4/01/24 | 4/14 at 100.00 | A1 | 509,605 | ||||||||||||||
1,500 | California State, General Obligation Bonds, Series 2004, 5.000%, 2/01/21 (Pre-refunded 2/01/14) | 2/14 at 100.00 | A1 (4) | 1,518,270 | ||||||||||||||
California State, General Obligation Bonds, Series 2007: | ||||||||||||||||||
500 | 5.000%, 8/01/19 | 2/17 at 100.00 | A1 | 566,380 | ||||||||||||||
1,000 | 5.000%, 12/01/23 | 12/17 at 100.00 | A1 | 1,137,690 | ||||||||||||||
15 | California State, General Obligation Bonds, Various Purpose Series 2001, 5.000%, 11/01/18 | 11/13 at 100.00 | A1 | 15,060 | ||||||||||||||
700 | California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/30 | 3/15 at 100.00 | A | 703,584 | ||||||||||||||
1,000 | California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, Henry Mayo Newhall Memorial Hospital, Series 2007B, 5.200%, 10/01/37 – AMBAC Insured | 10/18 at 100.00 | A | 1,010,100 | ||||||||||||||
1,200 | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G, 5.000%, 7/01/22 | 7/15 at 100.00 | BBB– | 1,259,100 | ||||||||||||||
10,000 | California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series 2007C, 5.000%, 8/15/38 – AMBAC Insured | 8/17 at 100.00 | AA– | 10,036,900 | ||||||||||||||
1,120 | Contra Costa County Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2003A, 5.500%, 8/01/23 – RAAI Insured | 2/14 at 100.00 | BBB+ | 1,120,224 | ||||||||||||||
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Capital Appreciation Series 2011A: | ||||||||||||||||||
7,475 | 0.000%, 11/01/26 | 11/21 at 66.91 | A | 3,262,314 | ||||||||||||||
4,095 | 0.000%, 11/01/28 | 11/21 at 56.33 | A | 1,479,360 | ||||||||||||||
Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012: | ||||||||||||||||||
1,685 | 5.000%, 1/01/22 | No Opt. Call | �� | BBB– | 1,789,858 | |||||||||||||
1,530 | 5.000%, 1/01/23 | No Opt. Call | BBB– | 1,626,436 | ||||||||||||||
1,635 | 5.000%, 1/01/24 | No Opt. Call | BBB– | 1,722,750 | ||||||||||||||
1,325 | 5.000%, 1/01/25 | No Opt. Call | BBB– | 1,378,782 | ||||||||||||||
Desert Sands Unified School District, Riverside County, California, General Obligation Bonds, Election 2001, Series 2008: | ||||||||||||||||||
500 | 5.250%, 8/01/23 | 8/18 at 100.00 | Aa2 | 571,855 | ||||||||||||||
2,025 | 5.000%, 8/01/24 | 8/18 at 100.00 | Aa2 | 2,254,757 | ||||||||||||||
2,100 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 4.550%, 6/01/22 – AGM Insured | 6/18 at 100.00 | AA– | 2,159,388 | ||||||||||||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: | ||||||||||||||||||
7,770 | 5.000%, 6/01/17 | No Opt. Call | Baa1 | 8,498,748 | ||||||||||||||
11,980 | 4.500%, 6/01/27 | 6/17 at 100.00 | B | 10,246,254 | ||||||||||||||
1,300 | Grant Joint Union High School District, Sacramento County, California, General Obligation Bonds, Capital Appreciation Election 2006 Series 2008, 0.000%, 8/01/26 – AGM Insured | No Opt. Call | A1 | 700,843 | ||||||||||||||
6,425 | Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 90-2, Series 2007A, 4.500%, 10/01/24 – AGM Insured | 10/17 at 100.00 | AA– | 6,529,663 | ||||||||||||||
2,015 | Las Virgenes Unified School District, Los Angeles County, California, General Obligation Bonds, 2006 Election, Series 2009B, 0.000%, 8/01/27 | No Opt. Call | Aa2 | 1,031,217 | ||||||||||||||
3,105 | Long Beach Financing Authority, California, Revenue Bonds, Series 1992, 6.000%, 11/01/17 – AMBAC Insured | No Opt. Call | N/R | 3,241,092 | ||||||||||||||
405 | Los Angeles, California, Wastewater System Revenue Bonds, Subordinate Lien, Refunding Series 2013A, 5.000%, 6/01/34 (Pre-refunded 6/01/15) | 6/15 at 100.00 | Aa2 (4) | 435,468 | ||||||||||||||
1,140 | Los Angeles, California, Wastewater System Revenue Bonds, Subordinate Lien, Refunding Series 2013A, 5.000%, 6/01/34 | No Opt. Call | AA+ | 1,192,132 | ||||||||||||||
Moulton Niguel Water District, California, Certificates of Participation, Refunding Series 2003: | ||||||||||||||||||
2,220 | 5.000%, 9/01/21 – AMBAC Insured | 9/16 at 100.00 | AAA | 2,414,738 | ||||||||||||||
2,145 | 5.000%, 9/01/22 – AMBAC Insured | 9/16 at 100.00 | AAA | 2,333,159 | ||||||||||||||
2,000 | 5.000%, 9/01/23 – AMBAC Insured | 9/16 at 100.00 | AAA | 2,175,440 |
Nuveen Investments | 73 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 1,475 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/28 | 2/28 at 100.00 | AA | $ | 995,979 | ||||||||||||
10,000 | M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009A, 6.125%, 11/01/29 | No Opt. Call | A | 11,371,200 | ||||||||||||||
10,000 | M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.125%, 11/01/29 | No Opt. Call | A | 11,371,200 | ||||||||||||||
1,000 | Northern Inyo County Local Hospital District, Inyo County, California, Revenue Bonds, Series 2010, 6.000%, 12/01/21 | 12/20 at 100.00 | BBB– | 1,089,390 | ||||||||||||||
6,000 | Oakland State Building Authority, California, Lease Revenue Bonds, Elihu M. Harris State Office Building, Series 1998A, 5.000%, 4/01/23 – AMBAC Insured | 4/14 at 100.00 | A2 | 6,004,680 | ||||||||||||||
8,000 | Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40 | 8/30 at 100.00 | A+ | 5,710,640 | ||||||||||||||
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A: | ||||||||||||||||||
1,815 | 0.000%, 8/01/21 – AGC Insured | No Opt. Call | AA– | 1,405,246 | ||||||||||||||
2,095 | 0.000%, 8/01/22 – AGC Insured | No Opt. Call | AA– | 1,520,090 | ||||||||||||||
4,085 | 0.000%, 8/01/23 – AGC Insured | No Opt. Call | AA– | 2,783,764 | ||||||||||||||
7,000 | Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2011, 0.000%, 10/01/25 – AGM Insured | 10/21 at 100.00 | AA– | 6,682,340 | ||||||||||||||
Port of Oakland, California, Revenue Refunding Bonds, Inter Lien, Series 2007B: | ||||||||||||||||||
2,530 | 5.000%, 11/01/18 – NPFG Insured | 11/17 at 100.00 | A | 2,868,210 | ||||||||||||||
1,120 | 5.000%, 11/01/19 – NPFG Insured | 11/17 at 100.00 | A | 1,255,834 | ||||||||||||||
5,350 | Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2011A, 0.000%, 8/01/34 | No Opt. Call | Aa2 | 1,770,850 | ||||||||||||||
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B: | ||||||||||||||||||
2,115 | 0.000%, 10/01/34 | No Opt. Call | A– | 585,559 | ||||||||||||||
2,000 | 0.000%, 10/01/36 | No Opt. Call | A– | 487,560 | ||||||||||||||
5,000 | Sacramento County, California, Airport System Revenue Bonds, Senior Lien Series 20010, 5.000%, 7/01/40 | 7/20 at 100.00 | A | 5,030,650 | ||||||||||||||
9,310 | Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2004T, 5.000%, 5/15/30 (Pre-refunded 5/15/14) – BHAC Insured | 5/14 at 100.00 | AA+ (4) | 9,553,550 | ||||||||||||||
1,000 | San Bernardino Community College District, California, General Obligation Bonds, Series 2008A, 6.500%, 8/01/27 (Pre-refunded 8/01/18) | 8/18 at 100.00 | Aa2 (4) | 1,256,140 | ||||||||||||||
575 | San Bernardino County Redevelopment Agency, California, Tax Allocation Refunding Bonds, San Sevaine Project, Series 2005A, 5.000%, 9/01/16 – RAAI Insured | 9/15 at 100.00 | BBB | 597,552 | ||||||||||||||
2,770 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006D, 5.000%, 8/01/23 – AMBAC Insured | 8/17 at 100.00 | BBB | 2,826,702 | ||||||||||||||
1,000 | San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/17 – FGIC Insured | No Opt. Call | Aa1 | 949,960 | ||||||||||||||
4,505 | Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A, 6.250%, 7/01/24 – NPFG Insured | No Opt. Call | A | 5,023,480 | ||||||||||||||
1,000 | Santa Ana Unified School District, Orange County, California, General Obligation Bonds, Series 2008A, 5.250%, 8/01/28 | 8/18 at 100.00 | AA– | 1,082,650 | ||||||||||||||
2,000 | Santa Monica Community College District, Los Angeles County, California, General Obligation Bonds, Series 2005C, 0.000%, 8/01/16 (Pre-refunded 8/01/15) – NPFG Insured | 8/15 at 95.72 | AA (4) | 1,899,080 | ||||||||||||||
Santa Paula Utility Authority, California, Water Enterprise Revenue Bonds, Series 2010: | ||||||||||||||||||
2,510 | 5.000%, 2/01/28 | 2/20 at 100.00 | A+ | 2,673,150 | ||||||||||||||
2,630 | 5.000%, 2/01/29 | 2/20 at 100.00 | A+ | 2,785,933 | ||||||||||||||
2,765 | 5.000%, 2/01/30 | 2/20 at 100.00 | A+ | 2,913,287 | ||||||||||||||
South Bayside Waste Management Authority, California, Solida Waste Enterprise Revenue Bonds, Shoreway Environmental Center, Series 2009A: | ||||||||||||||||||
2,500 | 5.250%, 9/01/24 | 9/19 at 100.00 | A– | 2,663,225 | ||||||||||||||
1,200 | 6.250%, 9/01/29 | 9/19 at 100.00 | A– | 1,315,620 | ||||||||||||||
Tulare Local Health Care District, California, General Obligation Bonds, Series 2009B-1: | ||||||||||||||||||
1,180 | 6.000%, 8/01/22 | 8/19 at 100.00 | Baa1 | 1,351,147 | ||||||||||||||
1,410 | 6.125%, 8/01/23 | 8/19 at 100.00 | Baa1 | 1,605,313 | ||||||||||||||
1,585 | 6.250%, 8/01/24 | 8/19 at 100.00 | Baa1 | 1,802,177 | ||||||||||||||
1,265 | 6.375%, 8/01/25 | 8/19 at 100.00 | Baa1 | 1,433,372 | ||||||||||||||
500 | 6.500%, 8/01/26 | 8/19 at 100.00 | Baa1 | 566,120 |
74 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 2,580 | University of California, General Revenue Bonds, Series 2013AI, 5.000%, 5/15/38 | 5/23 at 100.00 | Aa1 | $ | 2,744,991 | ||||||||||||
1,100 | Upland Community Redevelopment Agency, California, Tax Allocation Refunding Bonds, A Merged Project, Series 2006, 4.250%, 9/01/26 – AMBAC Insured | 9/16 at 100.00 | A | 1,050,247 | ||||||||||||||
2,030 | Victor Elementary School District, San Bernardino County, California, General Obligation Bonds, Series 2002A, 0.000%, 8/01/23 – FGIC Insured | No Opt. Call | Aa3 | 1,372,828 | ||||||||||||||
3,000 | Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured | 8/26 at 100.00 | AA– | 2,319,480 | ||||||||||||||
2,500 | West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2008B, 6.000%, 8/01/25 | No Opt. Call | Aa3 | 3,046,875 | ||||||||||||||
995 | Whittier Public Financing Authority, California, Tax Allocation Revenue Bonds, Whittier Redevelopment Agency, Series 2007A, 5.000%, 11/01/21 – AMBAC Insured | 11/17 at 100.00 | A– | 1,061,406 | ||||||||||||||
815 | Woodland Finance Authority, California, Lease Revenue Bonds, Series 2002, 4.700%, 3/01/19 – SYNCORA GTY Insured | 3/14 at 100.00 | A2 | 833,077 | ||||||||||||||
287,980 | Total California | 281,043,253 | ||||||||||||||||
Colorado – 3.5% | ||||||||||||||||||
1,125 | Adams and Arapahoe Counties Joint School District 28J, Aurora, Colorado, General Obligation Bonds, Series 2008, 5.500%, 12/01/21 (Pre-refunded 12/01/18) | 12/18 at 100.00 | Aa2 (4) | 1,368,630 | ||||||||||||||
5,050 | Adams County, Colorado, Pollution Control Refunding Revenue Bonds, Public Service Company of Colorado Projects, Senior Lien Series 2005A, 4.375%, 9/01/17 – NPFG Insured | 9/15 at 100.00 | A | 5,340,022 | ||||||||||||||
175 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Cheyenne Mountain Charter Academy, Series 2007A, 4.750%, 6/15/22 | 6/17 at 100.00 | BBB– | 175,712 | ||||||||||||||
1,000 | Colorado Health Facilities Authority, Colorado, Hospital Improvement Revenue Bonds, NCMC Inc., Series 2003B, 6.000%, 5/15/26 – AGM Insured | 5/19 at 100.00 | AA– | 1,121,430 | ||||||||||||||
16,830 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 5.000%, 9/01/26 | 9/16 at 100.00 | A+ | 17,853,432 | ||||||||||||||
725 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006C-7, 4.350%, 9/01/20 – AGM Insured | 5/18 at 100.00 | AA– | 786,190 | ||||||||||||||
1,500 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2008D, 5.125%, 10/01/17 | No Opt. Call | A+ | 1,730,505 | ||||||||||||||
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Communities Project, Series 2006A: | ||||||||||||||||||
600 | 5.250%, 1/01/14 | No Opt. Call | N/R | 600,276 | ||||||||||||||
620 | 5.250%, 1/01/15 | No Opt. Call | N/R | 621,798 | ||||||||||||||
310 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.500%, 6/01/33 | 6/23 at 100.00 | A– | 315,881 | ||||||||||||||
1,400 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A, 5.250%, 11/15/20 | No Opt. Call | BBB– | 1,530,382 | ||||||||||||||
6,725 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Yampa Valley Medical Center, Series 2007, 5.000%, 9/15/22 | 9/17 at 100.00 | BBB+ | 6,960,173 | ||||||||||||||
10,000 | Colorado Health Facilities Authority, Retirement Facilities Revenue Bonds, Liberty Heights, Series 1990B, 0.000%, 7/15/20 (ETM) | No Opt. Call | AA+ (4) | 8,674,400 | ||||||||||||||
500 | Colorado Health Facilities Authority, Revenue Bonds, Covenant Retirement Communities Inc., Series 2005, 5.000%, 12/01/16 | 12/15 at 100.00 | BBB+ | 529,835 | ||||||||||||||
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2006: | ||||||||||||||||||
1,000 | 5.000%, 6/01/16 | No Opt. Call | A– | 1,097,170 | ||||||||||||||
1,000 | 5.250%, 6/01/18 | 6/16 at 100.00 | A– | 1,073,850 | ||||||||||||||
1,250 | Colorado Health Facilities Authority, Revenue Bonds, Longmont United Hospital, Series 2007B, 4.250%, 12/01/15 – RAAI Insured | No Opt. Call | Baa2 | 1,298,325 | ||||||||||||||
640 | Colorado Health Facilities Authority, Revenue Bonds, Parkview Medical Center, Series 2004, 5.000%, 9/01/16 | 3/14 at 100.00 | A3 | 642,010 | ||||||||||||||
1,500 | Colorado State Higher Education Capital Construction Lease Purchase Financing Program Certificates of Participation, Series 2008, 5.250%, 11/01/23 | 11/18 at 100.00 | Aa2 | 1,722,030 | ||||||||||||||
Colorado State, Certificates of Participation, Colorado Penitentiary II Program, Refunding Series 2010: | ||||||||||||||||||
150 | 0.000%, 3/01/14 | No Opt. Call | AA– | 149,859 | ||||||||||||||
1,390 | 4.000%, 3/01/15 | No Opt. Call | Aa2 | 1,459,000 |
Nuveen Investments | 75 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Colorado (continued) | ||||||||||||||||||
$ | 1,500 | Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010, 5.500%, 9/01/25 | 3/20 at 100.00 | BBB– | $ | 1,520,130 | ||||||||||||
6,050 | Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2006A, 5.000%, 11/15/19 – FGIC Insured | 11/16 at 100.00 | A+ | 6,735,405 | ||||||||||||||
4,025 | Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2006A, 5.000%, 11/15/19 (Pre-refunded 11/15/16) – FGIC Insured | 11/16 at 100.00 | A1 (4) | 4,568,295 | ||||||||||||||
11,000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32 | 11/22 at 100.00 | A+ | 11,446,050 | ||||||||||||||
5,775 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Senior Lien Series 2003A, 5.000%, 12/01/15 (Pre-refunded 12/01/13) – SYNCORA GTY Insured | 12/13 at 100.00 | N/R (4) | 5,798,273 | ||||||||||||||
Denver School District 1, Colorado, General Obligation Bonds, Series 2012B: | ||||||||||||||||||
6,600 | 4.000%, 12/01/21 | No Opt. Call | AA+ | 7,416,222 | ||||||||||||||
6,445 | 4.000%, 12/01/22 | No Opt. Call | AA+ | 7,205,639 | ||||||||||||||
5,000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2007B-1, 5.500%, 9/01/24 – NPFG Insured | 9/15 at 100.00 | A | 5,301,700 | ||||||||||||||
10,000 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 3/01/36 – NPFG Insured | 9/20 at 41.72 | A | 2,693,800 | ||||||||||||||
1,500 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004C, 5.000%, 9/01/17 – NPFG Insured | No Opt. Call | A | 1,631,340 | ||||||||||||||
El Paso County School District 20, Academy, Colorado, General Obligation Bonds, Refunding Series 2010: | ||||||||||||||||||
1,500 | 5.000%, 12/15/20 | No Opt. Call | Aa2 | 1,799,415 | ||||||||||||||
2,215 | 5.000%, 12/15/21 | No Opt. Call | Aa2 | 2,651,864 | ||||||||||||||
1,530 | 5.000%, 12/15/22 | 12/21 at 100.00 | Aa2 | 1,804,253 | ||||||||||||||
260 | High Plains Metropolitan District, Colorado, General Obligation Bonds, Series 2005B, 4.375%, 12/01/15 | No Opt. Call | BBB– | 267,626 | ||||||||||||||
2,170 | Montrose, Colorado, Enterprise Revenue Bonds, Montrose Memorial Hospital, Series 2003, 5.700%, 12/01/17 | 12/13 at 102.00 | BBB– | 2,221,060 | ||||||||||||||
1,000 | North Range Metropolitan District 1, Adams County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2007, 4.300%, 12/15/19 – ACA Insured | 12/16 at 100.00 | N/R | 984,190 | ||||||||||||||
2,250 | Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001C, 5.250%, 6/15/15 – AMBAC Insured (ETM) | No Opt. Call | N/R (4) | 2,428,223 | ||||||||||||||
725 | Platte River Power Authority, Colorado, Power Revenue Bonds, Refunding Series 2007GG, 4.500%, 6/01/17 – AGM Insured | No Opt. Call | AA | 821,005 | ||||||||||||||
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
1,335 | 5.000%, 12/01/19 | No Opt. Call | N/R | 1,420,480 | ||||||||||||||
500 | 5.000%, 12/01/20 | No Opt. Call | N/R | 523,920 | ||||||||||||||
1,000 | Pueblo County School District 60, Pueblo, Colorado, General Obligation Bonds, Refunding Series 2009, 5.000%, 12/15/22 | No Opt. Call | Aa2 | 1,198,890 | ||||||||||||||
1,325 | Rangeview Library District, Adams County, Colorado, Certificates of Participation, Rangeview Library Projects, Series 2008, 4.500%, 12/15/20 – AGC Insured | 12/18 at 100.00 | AA– | 1,452,889 | ||||||||||||||
975 | Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.000%, 1/15/41 | 7/20 at 100.00 | Baa3 | 1,000,838 | ||||||||||||||
Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2010A: | ||||||||||||||||||
2,190 | 4.250%, 12/01/23 | 12/20 at 100.00 | A | 2,310,472 | ||||||||||||||
2,030 | 4.000%, 12/01/24 | 12/20 at 100.00 | A | 2,078,923 | ||||||||||||||
1,000 | Walker Field Public Airport Authority, Colorado, Airport Revenue Bonds, Series 2007, 5.000%, 12/01/22 | 12/17 at 100.00 | Baa2 | 1,079,930 | ||||||||||||||
133,390 | Total Colorado | 133,411,742 | ||||||||||||||||
Connecticut – 0.1% | ||||||||||||||||||
1,000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2005B, 5.000%, 7/01/14 – RAAI Insured | No Opt. Call | N/R | 1,022,600 | ||||||||||||||
3,470 | Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (Alternative Minimum Tax) | 1/14 at 100.00 | BBB | 3,473,505 | ||||||||||||||
4,470 | Total Connecticut | 4,496,105 | ||||||||||||||||
Delaware – 0.1% | ||||||||||||||||||
Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013: | ||||||||||||||||||
1,000 | 4.000%, 7/01/22 | No Opt. Call | BBB– | 937,680 | ||||||||||||||
3,995 | 5.000%, 7/01/28 | 7/23 at 100.00 | BBB– | 3,711,715 | ||||||||||||||
4,995 | Total Delaware | 4,649,395 |
76 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
District of Columbia – 0.9% | ||||||||||||||||||
$ | 3,880 | District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/30 | 10/22 at 100.00 | BBB– | $ | 3,619,380 | ||||||||||||
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001: | ||||||||||||||||||
3,750 | 5.875%, 5/15/14 | 11/13 at 100.00 | A1 | 3,762,113 | ||||||||||||||
4,130 | 6.250%, 5/15/24 | 11/13 at 100.00 | A1 | 4,150,526 | ||||||||||||||
2,980 | 6.500%, 5/15/33 | No Opt. Call | Baa1 | 3,102,746 | ||||||||||||||
10,165 | District of Columbia Water and Sewerage Authority, Public Utility Revenue Bonds, Series 1998, 5.500%, 10/01/18 – AGM Insured | 4/14 at 100.00 | AA+ | 12,270,070 | ||||||||||||||
District of Columbia, Hospital Revenue Bonds, Sibley Memorial Hospital, Series 2009: | ||||||||||||||||||
420 | 6.500%, 10/01/20 | 10/19 at 100.00 | AA– | 499,388 | ||||||||||||||
1,715 | 6.500%, 10/01/23 | 10/19 at 100.00 | AA– | 1,966,299 | ||||||||||||||
825 | 6.500%, 10/01/24 | 10/19 at 100.00 | AA– | 937,794 | ||||||||||||||
3,665 | District of Columbia, Revenue Bonds, The Catholic University of America, Series 2010, 5.000%, 10/01/23 | 10/18 at 100.00 | A | 4,107,256 | ||||||||||||||
31,530 | Total District of Columbia | 34,415,572 | ||||||||||||||||
Florida – 6.2% | ||||||||||||||||||
1,615 | Citizens Property Insurance Corporation, Florida, High Risk Assessment Revenue, Senior Secured Bonds, Series 2009A-1, 5.500%, 6/01/17 | No Opt. Call | A+ | 1,849,660 | ||||||||||||||
Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1: | ||||||||||||||||||
150 | 5.000%, 6/01/15 | No Opt. Call | A+ | 160,311 | ||||||||||||||
3,160 | 5.000%, 6/01/18 | No Opt. Call | A+ | 3,607,835 | ||||||||||||||
200 | 5.000%, 6/01/19 | No Opt. Call | A+ | 228,868 | ||||||||||||||
125 | Citizens Property Insurance Corporation, Florida, High-Risk Account Senior Secured Bonds Series 2010A-1, 5.250%, 6/01/17 | No Opt. Call | A+ | 142,073 | ||||||||||||||
1,045 | Citrus County Hospital Board, Florida, Revenue Bonds, Citrus Memorial Hospital, Refunding Series 2002, 6.250%, 8/15/23 | 2/14 at 100.00 | B3 | 1,045,125 | ||||||||||||||
2,205 | Clay County School Board, Florida, Certificates of Participation, Refunding Series 2005B, 5.000%, 7/01/18 – NPFG Insured | 7/15 at 100.00 | A1 | 2,310,642 | ||||||||||||||
Florida Citizens Property Insurance Corporation, High Risk Account Revenue Bonds, Series 2007A: | ||||||||||||||||||
12,660 | 5.000%, 3/01/15 – NPFG Insured | No Opt. Call | A+ | 13,401,370 | ||||||||||||||
33,180 | 5.000%, 3/01/17 – NPFG Insured | No Opt. Call | A+ | 37,205,687 | ||||||||||||||
Florida Citizens Property Insurance Corporation, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1: | ||||||||||||||||||
35 | 5.000%, 6/01/16 | No Opt. Call | A+ | 38,585 | ||||||||||||||
85 | 5.000%, 6/01/18 | No Opt. Call | A+ | 97,046 | ||||||||||||||
480 | 5.000%, 6/01/19 | No Opt. Call | A+ | 549,283 | ||||||||||||||
4,545 | 5.000%, 6/01/20 | No Opt. Call | A+ | 5,178,891 | ||||||||||||||
3,275 | Florida Governmental Utility Authority, Utility Revenue Bonds, Lake Aqua Utility System, Series 2013A, 4.250%, 10/01/33 | 10/22 at 100.00 | A– | 2,918,680 | ||||||||||||||
2,700 | Florida Governmental Utility Authority, Utility Revenue Bonds, Pasco Aqua Utility System, Series 2013A, 4.250%, 10/01/33 | 10/22 at 100.00 | Baa1 | 2,408,238 | ||||||||||||||
2,380 | Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.250%, 6/01/26 | 6/16 at 100.00 | A– | 2,418,485 | ||||||||||||||
2,000 | Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2008A, 6.500%, 11/15/38 (Mandatory put 11/17/15) | No Opt. Call | AA | 2,230,040 | ||||||||||||||
Jacksonville, Florida, Capital Improvement Refunding Revenue Bonds, Series 2012: | ||||||||||||||||||
2,240 | 5.000%, 10/01/20 | No Opt. Call | AA | 2,637,174 | ||||||||||||||
2,250 | 5.000%, 10/01/21 | No Opt. Call | AA | 2,644,200 | ||||||||||||||
4,605 | 5.000%, 10/01/27 | No Opt. Call | AA | 5,061,540 | ||||||||||||||
Jacksonville, Florida, Special Revenue Bonds, Refunding Series 2013C: | ||||||||||||||||||
4,275 | 5.250%, 10/01/27 | 10/23 at 100.00 | Aa2 | 4,792,446 | ||||||||||||||
5,575 | 5.250%, 10/01/28 | 10/23 at 100.00 | Aa2 | 6,179,219 | ||||||||||||||
5,530 | 5.250%, 10/01/29 | 10/23 at 100.00 | Aa2 | 6,048,438 | ||||||||||||||
8,085 | 5.250%, 10/01/30 | 10/23 at 100.00 | Aa2 | 8,719,834 | ||||||||||||||
Jacksonville, Florida, Special Revenue Bonds, Series 20120C: | ||||||||||||||||||
2,000 | 5.000%, 10/01/23 | No Opt. Call | Aa2 | 2,349,780 | ||||||||||||||
2,000 | 5.000%, 10/01/24 | No Opt. Call | Aa2 | 2,274,800 |
Nuveen Investments | 77 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Florida (continued) | ||||||||||||||||||
$ | 2,520 | Miami-Dade County Educational Facilities Authority, Revenue Bonds, Florida University of Miami, Series 2008A, 5.150%, 4/01/23 | 4/16 at 100.00 | A– | $ | 2,715,577 | ||||||||||||
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A: | ||||||||||||||||||
925 | 5.000%, 10/01/20 (Alternative Minimum Tax) | No Opt. Call | A | 1,055,249 | ||||||||||||||
3,000 | 5.000%, 10/01/21 (Alternative Minimum Tax) | No Opt. Call | A | 3,399,600 | ||||||||||||||
5,000 | 5.000%, 10/01/22 (Alternative Minimum Tax) | No Opt. Call | A | 5,635,350 | ||||||||||||||
6,285 | Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/41 | 10/20 at 100.00 | A | 6,324,910 | ||||||||||||||
5,000 | Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series 2005B, 5.000%, 6/01/25 – NPFG Insured | 6/15 at 100.00 | Aa3 | 5,197,750 | ||||||||||||||
Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition, Series 2010E: | ||||||||||||||||||
1,575 | 4.000%, 4/01/16 | No Opt. Call | Aa3 | 1,694,007 | ||||||||||||||
1,975 | 5.000%, 4/01/21 | 4/20 at 100.00 | Aa3 | 2,244,114 | ||||||||||||||
5,015 | 5.250%, 4/01/30 | 4/20 at 100.00 | Aa3 | 5,296,793 | ||||||||||||||
5,000 | Miami-Dade County, Florida, Subordinate Special Obligation Refunding Bonds Series 2012B, 5.000%, 10/01/35 | 10/22 at 100.00 | A+ | 5,148,450 | ||||||||||||||
5,000 | Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/29 – AGM Insured | 10/20 at 100.00 | AA– | 5,355,500 | ||||||||||||||
2,100 | North Brevard County Hospital District, Florida, Revenue Bonds, Parrish Medical Center Project, Refunding Series 2008, 5.500%, 10/01/28 | 10/18 at 100.00 | A– | 2,188,326 | ||||||||||||||
3,400 | Orange County School Board, Florida, Certificates of Participation, Series 2005B, 5.000%, 8/01/25 – AMBAC Insured | 8/15 at 100.00 | Aa2 | 3,629,602 | ||||||||||||||
2,000 | Orlando Utilities Commission, Florida, Utility System Revenue Bonds, Refunding Series 2012A, 5.000%, 10/01/25 | No Opt. Call | AA | 2,367,920 | ||||||||||||||
3,005 | Orlando-Orange County Expressway Authority, Florida, Expressway Revenue Bonds, Series 2012, 5.000%, 7/01/20 | No Opt. Call | A | 3,519,997 | ||||||||||||||
10,000 | Palm Beach County Solid Waste Authority, Florida, Refunding Revenue Bonds, Series 2011, 5.000%, 10/01/25 | 10/21 at 100.00 | AA+ | 11,098,400 | ||||||||||||||
10,300 | Port St. Lucie, Florida, Utility System Revenue Bonds, Series 2006A, 5.000%, 9/01/26 – NPFG Insured | 9/16 at 100.00 | A1 | 11,179,723 | ||||||||||||||
22,980 | South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007, 5.000%, 8/15/27 | 8/17 at 100.00 | AA | 24,491,165 | ||||||||||||||
6,020 | Tampa Sports Authority, Hillsborough County, Florida, Local Option Sales Tax Payments Revenue Bonds, Stadium Project, Series 2005, 5.000%, 1/01/20 – AGM Insured | 1/15 at 100.00 | AA+ | 6,340,866 | ||||||||||||||
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A: | ||||||||||||||||||
550 | 5.000%, 9/01/22 | No Opt. Call | A+ | 636,933 | ||||||||||||||
600 | 5.000%, 9/01/23 | 9/22 at 100.00 | A+ | 682,830 | ||||||||||||||
1,220 | 3.125%, 9/01/24 | 9/22 at 100.00 | A+ | 1,168,162 | ||||||||||||||
1,250 | 5.000%, 9/01/25 | 9/22 at 100.00 | A+ | 1,384,663 | ||||||||||||||
1,500 | 5.000%, 9/01/27 | 9/22 at 100.00 | A+ | 1,625,325 | ||||||||||||||
1,200 | 5.000%, 9/01/28 | No Opt. Call | A+ | 1,287,576 | ||||||||||||||
5,500 | 4.000%, 9/01/33 | No Opt. Call | A+ | 4,960,450 | ||||||||||||||
350 | Vero Beach, Florida, Electric Refunding Revenue Bonds, Series 2003A, 4.000%, 12/01/19 – AGM Insured | 12/18 at 100.00 | A1 | 382,795 | ||||||||||||||
219,670 | Total Florida | 237,510,283 | ||||||||||||||||
Georgia – 1.1% | ||||||||||||||||||
Atlanta, Georgia, Airport General Revenue Bonds, Series 2012B: | ||||||||||||||||||
2,000 | 5.000%, 1/01/23 | No Opt. Call | A+ | 2,304,960 | ||||||||||||||
1,500 | 5.000%, 1/01/28 | No Opt. Call | A+ | 1,626,390 | ||||||||||||||
2,000 | Atlanta, Georgia, Tax Allocation Bonds Atlanta Station Project, Series 2007, 4.375%, 12/01/18 – AGC Insured | 12/17 at 100.00 | AA– | 2,145,460 | ||||||||||||||
2,220 | Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31 | 1/19 at 100.00 | A2 | 2,586,034 | ||||||||||||||
Chatham County Hospital Authority, Georgia, Seven Mill Tax Pledge Refunding and Improvement Revenue Bonds, Memorial Health University Medical Center Inc., Series 2012A: | ||||||||||||||||||
2,000 | 5.000%, 1/01/18 | No Opt. Call | AA | 2,300,900 | ||||||||||||||
3,325 | 5.000%, 1/01/23 | 1/22 at 100.00 | AA | 3,739,295 | ||||||||||||||
5,560 | 5.000%, 1/01/24 | 1/22 at 100.00 | AA | 6,131,068 | ||||||||||||||
8,990 | 5.000%, 1/01/25 | 1/22 at 100.00 | AA | 9,793,616 | ||||||||||||||
1,000 | Coffee County Hospital Authority, Georgia, Revenue Bonds, Coffee County Regional Medical Center, Series 2004, 5.000%, 12/01/15 | 12/14 at 100.00 | BB– | 1,008,460 | ||||||||||||||
1,250 | DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30 | 9/20 at 100.00 | BBB | 1,295,525 |
78 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Georgia (continued) | ||||||||||||||||||
Fayette County School District, Georgia, General Obligation Bonds, Deferred Interest Series 2005: | ||||||||||||||||||
$ | 675 | 4.150%, 3/01/14 – AGM Insured | No Opt. Call | AA+ | $ | 683,924 | ||||||||||||
265 | 4.250%, 3/01/15 – AGM Insured | No Opt. Call | AA+ | 278,913 | ||||||||||||||
4,500 | Fulton County Residential Care Facilities Elderly Authority, Georgia, Revenue Bonds, Canterbury Court, Refunding Series 2004A, 5.800%, 2/15/18 | 2/14 at 100.00 | N/R | 4,503,150 | ||||||||||||||
2,000 | Glynn-Brunswick Memorial Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, Southeast Georgia Health Systems, Series 2008A, 5.250%, 8/01/23 | 8/18 at 100.00 | A2 | 2,152,520 | ||||||||||||||
37,285 | Total Georgia | 40,550,215 | ||||||||||||||||
Hawaii – 0.2% | ||||||||||||||||||
5,000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010A, 5.250%, 7/01/30 | 7/20 at 100.00 | A2 | 5,133,900 | ||||||||||||||
1,025 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010B, 5.625%, 7/01/30 | 7/20 at 100.00 | A2 | 1,074,774 | ||||||||||||||
1,250 | Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009C-1, 7.500%, 11/15/15 | 11/13 at 100.00 | N/R | 1,253,038 | ||||||||||||||
7,275 | Total Hawaii | 7,461,712 | ||||||||||||||||
Idaho – 0.2% | ||||||||||||||||||
3,000 | Idaho Health Facilities Authority, Revenue Bonds, Trinity Health Group, Refunding Series 2008B, 6.000%, 12/01/23 | 12/18 at 100.00 | Aa2 | 3,521,700 | ||||||||||||||
Madison County, Idaho, Hospital Revenue Certificates of Participation, Madison Memorial Hospital, Series 2006: | ||||||||||||||||||
450 | 5.250%, 9/01/16 | No Opt. Call | BB+ | 466,488 | ||||||||||||||
1,300 | 5.250%, 9/01/20 | 9/16 at 100.00 | BB+ | 1,322,698 | ||||||||||||||
1,000 | University of Idaho, General Revenue Bonds, Series 2007B, 4.500%, 4/01/41 (Mandatory put 4/01/18) – AGM Insured | No Opt. Call | AA– | 1,106,530 | ||||||||||||||
5,750 | Total Idaho | 6,417,416 | ||||||||||||||||
Illinois – 9.0% | ||||||||||||||||||
1,840 | Bolingbrook Park District, Illinois, General Obligation Bonds, Series 2007A, 4.500%, 1/01/17 – CIFG Insured | No Opt. Call | Aa2 | 2,027,496 | ||||||||||||||
Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A: | ||||||||||||||||||
2,800 | 0.000%, 1/01/30 | 7/23 at 72.73 | Aa3 | 1,100,624 | ||||||||||||||
2,550 | 0.000%, 1/01/31 | 7/23 at 68.94 | Aa3 | 936,666 | ||||||||||||||
2,750 | 0.000%, 1/01/32 | 7/23 at 65.28 | Aa3 | 944,515 | ||||||||||||||
4,000 | 0.000%, 1/01/33 | 7/23 at 61.69 | Aa3 | 1,288,160 | ||||||||||||||
4,415 | Chicago Metropolitan Water Reclamation District, Illinois, General Obligation Bonds, Tender Option Bonds Trust 1130, 13.590%, 6/01/14 (IF) | No Opt. Call | AAA | 5,410,362 | ||||||||||||||
5,545 | Chicago Park District, Illinois, General Obligation Bonds, Refunding Series 2005B, 5.000%, 1/01/20 – AMBAC Insured | 1/15 at 100.00 | AA+ | 5,756,985 | ||||||||||||||
2,300 | Chicago Park District, Illinois, General Obligation Bonds, Series 2010A, 4.500%, 1/01/23 | 7/20 at 100.00 | AA+ | 2,441,220 | ||||||||||||||
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011: | ||||||||||||||||||
3,530 | 5.250%, 12/01/25 | 12/21 at 100.00 | AA | 3,882,788 | ||||||||||||||
3,235 | 5.250%, 12/01/26 | 12/21 at 100.00 | AA | 3,516,089 | ||||||||||||||
7,000 | Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/15 – FGIC Insured | No Opt. Call | AA– | 6,835,780 | ||||||||||||||
2,000 | Chicago, Illinois, General Obligation Bonds, Series 2001A, 5.300%, 1/01/16 – NPFG Insured | No Opt. Call | AA– | 2,154,260 | ||||||||||||||
1,350 | Chicago, Illinois, Revenue Bonds, Midway Airport, Series 1998C, 5.500%, 1/01/14 – NPFG Insured | No Opt. Call | A | 1,360,935 | ||||||||||||||
1,500 | Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.000%, 12/01/24 | 12/23 at 100.00 | AA | 1,652,400 | ||||||||||||||
1,410 | Cook County Community High School District 219, Niles Township, Illinois, General Obligation Bonds, Refunding Series 2007A, 5.000%, 12/01/26 – AGM Insured | No Opt. Call | AA+ | 1,526,043 | ||||||||||||||
1,000 | Cook County High School District 209, Proviso Township, Illinois, General Obligation Bonds, Series 2004, 5.000%, 12/01/16 – AGM Insured | No Opt. Call | AA– | 1,096,300 | ||||||||||||||
2,440 | Cook County School District 102 La Grange, Illinois, General Obligation Bonds, Series 2001, 0.000%, 12/01/13 – FGIC Insured | No Opt. Call | Aa2 | 2,439,146 | ||||||||||||||
2,250 | Cook County School District 123 Oak Lawn, Illinois, General Obligation Bonds, Series 2002, 0.000%, 12/01/15 – NPFG Insured | No Opt. Call | A+ | 2,180,385 | ||||||||||||||
3,465 | Cook County School District 205 Thornton Township, Illinois, General Obligation Bonds, Series 2008, 5.250%,s 12/01/21 – AGC Insured | 12/18 at 100.00 | AA- | 3,839,670 |
Nuveen Investments | 79 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
$ | 1,175 | Cook County School District 88, Bellwood, Illinois, General Obligation Bonds, Refunding Series 2004B, 5.000%, 12/01/17 – AGM Insured | 12/14 at 100.00 | A2 | $ | 1,227,617 | ||||||||||||
500 | Cook County School District 88, Bellwood, Illinois, General Obligation Bonds, Refunding Series 2004B, 5.000%, 12/01/17 (Pre-refunded 12/01/14) – AGM Insured | 12/14 at 100.00 | A2 (4) | 526,030 | ||||||||||||||
Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C: | ||||||||||||||||||
2,500 | 5.000%, 11/15/20 | No Opt. Call | AA | 2,799,375 | ||||||||||||||
2,755 | 5.000%, 11/15/21 | No Opt. Call | AA | 3,049,262 | ||||||||||||||
2,400 | 5.000%, 11/15/22 | No Opt. Call | AA | 2,660,184 | ||||||||||||||
13,650 | Cook County, Illinois, General Obligation Bonds, Series 2004A, 5.000%, 11/15/17 – AMBAC Insured | 5/14 at 101.00 | AA | 14,023,191 | ||||||||||||||
6,425 | Cook County, Illinois, General Obligation Bonds, Series 2004A, 5.000%, 11/15/17 (Pre-refunded 5/15/14) – AMBAC Insured | 5/14 at 101.00 | A1 (4) | 6,657,264 | ||||||||||||||
1,000 | Elk Grove Village, Cook and DuPage Counties, Illinois, General Obligation Bonds, Improvement Series 2007, 4.125%, 1/01/19 (Pre-refunded 1/01/16) – NPFG Insured | 1/16 at 100.00 | Aa1 (4) | 1,080,160 | ||||||||||||||
Grundy and Will Counties Community Unit School District 1 Coal City, Illinois, General Obligation Bonds, Series 2008: | ||||||||||||||||||
1,550 | 5.875%, 2/01/19 | 8/18 at 100.00 | Aa3 | 1,825,342 | ||||||||||||||
2,100 | 5.875%, 2/01/22 | 8/18 at 100.00 | Aa3 | 2,451,561 | ||||||||||||||
2,545 | 5.875%, 2/01/24 | 8/18 at 100.00 | Aa3 | 2,957,315 | ||||||||||||||
2,750 | Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/18 – AGM Insured | No Opt. Call | Aa3 | 2,480,583 | ||||||||||||||
Illinois Educational Facilities Authority, Revenue Bonds, Art Institute of Chicago, Series 1998A: | ||||||||||||||||||
1,000 | 4.750%, 3/01/30 (Mandatory put 3/01/17) | No Opt. Call | A+ | 1,094,930 | ||||||||||||||
500 | 4.125%, 3/01/30 (Mandatory put 3/01/16) | No Opt. Call | A+ | 532,615 | ||||||||||||||
1,525 | Illinois Finance Authority, Gas Supply Revenue Refunding Bonds, Peoples Gas, Light and Coke Company, Senior Lien Series 2005A, 4.300%, 6/01/35 (Mandatory put 6/01/16) – AMBAC Insured | No Opt. Call | A1 | 1,654,717 | ||||||||||||||
4,000 | Illinois Finance Authority, Revenue and Refunding Bonds, Roosevelt University Project, Series 2009, 5.750%, 4/01/24 | 10/19 at 100.00 | BBB | 4,211,400 | ||||||||||||||
13,685 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27 | 9/22 at 100.00 | A– | 13,973,206 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, Edward Health Services Corporation, Series 2008A: | ||||||||||||||||||
1,200 | 6.000%, 2/01/25 – AMBAC Insured | 2/18 at 100.00 | A+ | 1,288,176 | ||||||||||||||
1,280 | 6.000%, 2/01/26 – AMBAC Insured | 2/18 at 100.00 | A+ | 1,367,834 | ||||||||||||||
500 | 6.000%, 2/01/28 – AMBAC Insured | 2/18 at 100.00 | A+ | 528,185 | ||||||||||||||
1,000 | Illinois Finance Authority, Revenue Bonds, Franciscan Communities Inc., Refunding Series 2007A, 5.500%, 5/15/27 | 5/17 at 100.00 | BBB– | 995,260 | ||||||||||||||
910 | Illinois Finance Authority, Revenue Bonds, Friendship Village of Schaumburg, Series 2005A, 5.000%, 2/15/15 | No Opt. Call | BB– | 918,190 | ||||||||||||||
1,000 | Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 6.500%, 2/01/23 | 2/19 at 100.00 | Baa3 | 1,054,930 | ||||||||||||||
680 | Illinois Finance Authority, Revenue Bonds, Landing at Plymouth Place Project, Series 2005A, 5.250%, 5/15/14 | No Opt. Call | N/R | 681,292 | ||||||||||||||
4,200 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2009A, 7.000%, 11/15/29 | 5/19 at 100.00 | A | 4,929,414 | ||||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%, 5/15/21 – NPFG Insured | 5/17 at 100.00 | AA– | 2,144,760 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007: | ||||||||||||||||||
500 | 5.250%, 4/01/22 | 4/17 at 100.00 | BBB | 510,070 | ||||||||||||||
3,600 | 5.400%, 4/01/27 | 4/17 at 100.00 | BBB | 3,624,912 | ||||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A, 6.750%, 11/01/24 | 11/18 at 100.00 | A | 2,377,020 | ||||||||||||||
1,500 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.375%, 11/01/29 | 5/19 at 100.00 | A | 1,693,260 | ||||||||||||||
5,000 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 6.875%, 8/15/38 | 8/19 at 100.00 | BBB+ | 5,388,950 | ||||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2009A, 5.500%, 2/15/17 | No Opt. Call | AA– | 2,255,260 | ||||||||||||||
600 | Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Capitol Appreciation Series 2010B, 0.000%, 5/15/50 (5), (6) | 11/13 at 100.00 | N/R | 6 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Refunding Series 2010A: | ||||||||||||||||||
700 | 5.400%, 5/15/17 (5) | 11/13 at 100.00 | N/R | 7 | ||||||||||||||
700 | 5.500%, 5/15/18 (6) | 11/13 at 100.00 | N/R | 7 | ||||||||||||||
655 | Illinois Finance Authority, Revenue Bonds, Three Crowns Park Plaza, Series 2006A, 5.500%, 2/15/14 | No Opt. Call | N/R | 658,268 | ||||||||||||||
3,510 | Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., University Center Project, Series 2006B, 5.000%, 5/01/25 | 11/16 at 100.00 | BBB+ | 3,491,818 |
80 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
$ | 215 | Illinois Health Facilities Authority, Revenue Refunding Bonds, Series 1983 (Mercy Hospital and Medical Center), Chicago, Illinois, 10.000%, 1/01/15 (ETM) | No Opt. Call | N/R (4) | $ | 228,089 | ||||||||||||
7,410 | Illinois Health Facilities Authority, Revenue Refunding Bonds, University of Chicago Hospitals, Series 2003, 5.000%, 8/15/14 – NPFG Insured | 2/14 at 100.00 | AA– | 7,437,788 | ||||||||||||||
1,620 | Illinois Sports Facility Authority, State Tax Supported Bonds, Series 2001, 5.100%, 6/15/16 – AMBAC Insured | 6/15 at 101.00 | A | 1,736,608 | ||||||||||||||
Illinois State Department of Employment Security, Unemployment Insurance Fund Building Receipts Revenue Bonds, Series 2012B: | ||||||||||||||||||
2,500 | 5.000%, 12/15/17 | 12/16 at 100.00 | AA+ | 2,812,125 | ||||||||||||||
2,500 | 5.000%, 6/15/18 | 12/16 at 100.00 | AA+ | 2,794,000 | ||||||||||||||
555 | Illinois State, General Obligation Bonds, Refunding Series 2007B, 5.000%, 1/01/16 | No Opt. Call | A– | 598,223 | ||||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2010: | ||||||||||||||||||
510 | 5.000%, 1/01/16 | No Opt. Call | A– | 549,719 | ||||||||||||||
520 | 5.000%, 1/01/17 | No Opt. Call | A– | 571,324 | ||||||||||||||
1,590 | 5.000%, 1/01/18 | No Opt. Call | A– | 1,767,619 | ||||||||||||||
6,040 | 5.000%, 1/01/19 – AGM Insured | No Opt. Call | AA– | 6,748,794 | ||||||||||||||
17,025 | 5.000%, 1/01/19 | No Opt. Call | A– | 18,935,716 | ||||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2012: | ||||||||||||||||||
7,735 | 5.000%, 8/01/20 | No Opt. Call | A– | 8,508,113 | ||||||||||||||
6,320 | 5.000%, 8/01/21 | No Opt. Call | A– | 6,863,710 | ||||||||||||||
2,450 | 5.000%, 8/01/22 | No Opt. Call | A– | 2,640,047 | ||||||||||||||
2,730 | 5.000%, 8/01/23 | No Opt. Call | A– | 2,929,645 | ||||||||||||||
1,055 | 5.000%, 8/01/24 | 8/22 at 100.00 | A– | 1,110,145 | ||||||||||||||
270 | 5.000%, 8/01/25 | 8/22 at 100.00 | A– | 280,997 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2004A: | ||||||||||||||||||
2,590 | 5.000%, 3/01/18 | 3/14 at 100.00 | A– | 2,621,650 | ||||||||||||||
805 | 5.000%, 3/01/22 | 3/14 at 100.00 | A– | 813,718 | ||||||||||||||
195 | Illinois State, General Obligation Bonds, Series 2004A, 5.000%, 3/01/22 (Pre-refunded 3/01/14) | 3/14 at 100.00 | A2 (4) | 198,157 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2006A: | ||||||||||||||||||
1,075 | 5.000%, 6/01/17 | No Opt. Call | A– | 1,190,047 | ||||||||||||||
10,000 | 5.000%, 6/01/18 | No Opt. Call | A– | 11,177,400 | ||||||||||||||
1,000 | Illinois State, General Obligation Bonds, Series 2006, 5.000%, 1/01/27 | 1/16 at 100.00 | A– | 1,000,130 | ||||||||||||||
1,000 | Illinois State, General Obligation Bonds, Series 2009A, 5.000%, 9/01/34 | 9/18 at 100.00 | A– | 969,720 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2012A: | ||||||||||||||||||
7,790 | 4.000%, 1/01/20 | No Opt. Call | A– | 8,140,394 | ||||||||||||||
12,230 | 4.000%, 1/01/22 | No Opt. Call | A– | 12,305,826 | ||||||||||||||
Illinois State, General Obligation Bonds, Series 2013: | ||||||||||||||||||
4,200 | 5.500%, 7/01/25 | 7/23 at 100.00 | A– | 4,544,946 | ||||||||||||||
2,760 | 5.500%, 7/01/26 | 7/23 at 100.00 | A– | 2,950,854 | ||||||||||||||
1,000 | 5.500%, 7/01/27 | 7/23 at 100.00 | A– | 1,051,980 | ||||||||||||||
Kane County Community Unit School District 304 Geneva, Illinois, General Obligation Bonds, Series 2007A: | ||||||||||||||||||
8,570 | 9.000%, 1/01/22 – AGM Insured | No Opt. Call | AA+ | 12,288,609 | ||||||||||||||
1,000 | 9.000%, 1/01/23 – AGM Insured | No Opt. Call | AA+ | 1,466,070 | ||||||||||||||
5,150 | 9.000%, 1/01/25 – AGM Insured | No Opt. Call | AA+ | 7,801,426 | ||||||||||||||
3,270 | Kendall County Forest Preserve District, Illinois, General Obligation Bonds, Series 2007, 5.250%, 1/01/24 – FGIC Insured | 1/18 at 100.00 | A+ | 3,680,189 | ||||||||||||||
2,100 | Madison and Jersey Counties Community Unit School District 11, Alton, Illinois, General Obligation Bonds, Series 2002, 0.000%, 12/01/19 – AGM Insured | No Opt. Call | AA– | 1,750,728 | ||||||||||||||
McCook, Illinois, General Obligation Bonds, Series 2008: | ||||||||||||||||||
500 | 5.000%, 12/01/26 | 12/18 at 100.00 | A– | 541,265 | ||||||||||||||
1,000 | 5.100%, 12/01/28 | 12/18 at 100.00 | A– | 1,063,400 | ||||||||||||||
1,000 | Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue Bonds, Refunding Series 2002B, 5.200%, 6/15/17 – NPFG Insured | No Opt. Call | AAA | 1,142,410 | ||||||||||||||
1,500 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2012B, 5.000%, 12/15/22 | No Opt. Call | AAA | 1,676,310 | ||||||||||||||
2,270 | Peoria Public Building Commission, Illinois, School District Facility Revenue Bonds, Peoria County School District 150 Project, Series 2011., 0.000%, 12/01/24 | No Opt. Call | A+ | 1,464,672 |
Nuveen Investments | 81 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012: | ||||||||||||||||||
$ | 295 | 5.000%, 10/01/23 | 10/22 at 100.00 | Baa1 | $ | 322,895 | ||||||||||||
275 | 5.000%, 10/01/24 | 10/22 at 100.00 | Baa1 | 295,336 | ||||||||||||||
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010: | ||||||||||||||||||
7,570 | 5.250%, 6/01/21 | No Opt. Call | A | 8,597,098 | ||||||||||||||
3,860 | 5.500%, 6/01/23 | 6/21 at 100.00 | A– | 4,252,446 | ||||||||||||||
500 | Rockford School District 205, Winnebago and Boone Counties, Illinois, General Obligation Bonds, Series 2001, 5.000%, 2/01/14 – FGIC Insured | No Opt. Call | A1 | 505,610 | ||||||||||||||
Saint Clair County, Illinois, General Obligation Bonds, Alternative Revenue Source Refunding Series 2009: | ||||||||||||||||||
1,000 | 4.500%, 10/01/20 | 10/19 at 100.00 | AA | 1,116,330 | ||||||||||||||
1,100 | 5.000%, 10/01/22 | 10/19 at 100.00 | AA | 1,225,840 | ||||||||||||||
1,680 | School District 122, Winnebago County, Illinois, Capital Appreciation Bonds, Series 1998, 0.000%, 1/01/17 – AGM Insured | No Opt. Call | A2 | 1,585,332 | ||||||||||||||
1,320 | School District 122, Winnebago County, Illinois, Capital Appreciation Bonds, Series 1998, 0.000%, 1/01/17 – AGM Insured (ETM) | No Opt. Call | A2 (4) | 1,279,766 | ||||||||||||||
1,000 | Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 5.000%, 12/01/17 – AGM Insured | No Opt. Call | AA– | 1,135,620 | ||||||||||||||
2,000 | Southwestern Illinois Development Authority, Revenue Bonds, Anderson Hospital, Series 2006, 5.125%, 8/15/26 | 2/17 at 100.00 | �� | BBB– | 1,998,240 | |||||||||||||
1,000 | Southwestern Illinois Development Authority, School Revenue Bonds, Triad School District 2, Madison County, Illinois, Series 2006, 5.000%, 10/01/18 – NPFG Insured | 10/16 at 100.00 | A+ | 1,081,610 | ||||||||||||||
Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2012: | ||||||||||||||||||
3,205 | 4.000%, 11/01/21 | No Opt. Call | A+ | 3,382,301 | ||||||||||||||
2,830 | 4.000%, 11/01/22 | No Opt. Call | A+ | 2,955,822 | ||||||||||||||
5,675 | Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2013B, 0.000%, 1/01/30 | No Opt. Call | Aa2 | 2,317,897 | ||||||||||||||
3,870 | Will County School District 86, Joliet, Illinois, General Obligation Bonds, Series 2002, 0.000%, 11/01/17 – AGM Insured | No Opt. Call | AA– | 3,547,513 | ||||||||||||||
Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008: | ||||||||||||||||||
535 | 6.250%, 6/01/24 | 6/18 at 100.00 | AA | 603,378 | ||||||||||||||
825 | 5.750%, 6/01/25 | 6/18 at 100.00 | AA | 915,965 | ||||||||||||||
225 | 5.750%, 6/01/26 | 6/18 at 100.00 | AA | 248,486 | ||||||||||||||
Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008: | ||||||||||||||||||
325 | 5.750%, 6/01/25 (Pre-refunded 6/01/18) | 6/18 at 100.00 | N/R (4) | 392,912 | ||||||||||||||
85 | 5.750%, 6/01/26 (Pre-refunded 6/01/18) | 6/18 at 100.00 | N/R (4) | 102,762 | ||||||||||||||
9,360 | Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, Limited Tax General Obligation Lease Certificates, Series 2011, 7.000%, 10/15/22 | 10/19 at 103.00 | BBB | 10,101,312 | ||||||||||||||
Winnebago-Boone Counties School District 205, Illinois, General Obligation Bonds, Series 2013: | ||||||||||||||||||
4,070 | 0.000%, 2/01/25 | No Opt. Call | AA– | 2,418,109 | ||||||||||||||
3,340 | 0.000%, 2/01/26 | No Opt. Call | AA– | 1,846,419 | ||||||||||||||
336,970 | Total Illinois | 346,083,757 | ||||||||||||||||
Indiana – 1.3% | ||||||||||||||||||
710 | Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/17 | 4/14 at 100.00 | BB+ | 716,901 | ||||||||||||||
1,000 | Avon Community School Building Corporation, Hendricks County, Indiana, First Mortgage Bonds, Refunding Series 2007, 4.500%, 7/15/20 – AMBAC Insured | 7/17 at 100.00 | A | 1,089,320 | ||||||||||||||
5,550 | Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013B, 5.000%, 1/01/19 (Alternative Minimum Tax) | 1/17 at 100.00 | BBB | 5,894,822 | ||||||||||||||
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Clarian Health Obligation Group, Series 2006A: | ||||||||||||||||||
4,925 | 5.000%, 2/15/36 | 2/16 at 100.00 | AA– | 4,941,006 | ||||||||||||||
540 | 5.250%, 2/15/40 | 2/16 at 100.00 | AA– | 544,061 | ||||||||||||||
3,000 | Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Methodist Hospitals Inc., Series 2001, 5.375%, 9/15/22 | 3/14 at 100.00 | BBB | 3,003,720 | ||||||||||||||
Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2013A: | ||||||||||||||||||
2,750 | 5.250%, 1/01/33 (WI/DD, Settling 11/21/13) | 7/23 at 100.00 | A+ | 2,912,278 | ||||||||||||||
2,500 | 5.250%, 1/01/34 (WI/DD, Settling 11/21/13) | 7/23 at 100.00 | A+ | 2,633,475 |
82 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Indiana (continued) | ||||||||||||||||||
$ | 2,800 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Refunding Series 2006, 5.500%, 7/01/21 – NPFG Insured | No Opt. Call | A+ | $ | 3,337,516 | ||||||||||||
5,000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007B, 5.250%, 7/01/23 – NPFG Insured | No Opt. Call | A+ | 5,866,800 | ||||||||||||||
2,985 | Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public Service Company Project, Series 1994A Remarketed, 5.850%, 4/01/19 – NPFG Insured | No Opt. Call | A | 3,435,108 | ||||||||||||||
Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A: | ||||||||||||||||||
1,675 | 5.000%, 4/01/21 | No Opt. Call | A3 | 1,867,675 | ||||||||||||||
940 | 5.000%, 4/01/22 | No Opt. Call | A3 | 1,037,506 | ||||||||||||||
2,015 | 5.000%, 4/01/24 | 4/22 at 100.00 | A3 | 2,168,180 | ||||||||||||||
Lake County Building Corporation, Indiana, First Mortgage Bonds, Series 2012: | ||||||||||||||||||
500 | 4.000%, 2/01/17 | No Opt. Call | N/R | 517,585 | ||||||||||||||
500 | 4.000%, 8/01/17 | No Opt. Call | N/R | 518,270 | ||||||||||||||
500 | 4.250%, 2/01/18 | No Opt. Call | N/R | 520,510 | ||||||||||||||
500 | 4.250%, 8/01/18 | No Opt. Call | N/R | 520,300 | ||||||||||||||
500 | 4.500%, 2/01/19 | No Opt. Call | N/R | 519,700 | ||||||||||||||
500 | 4.500%, 8/01/19 | No Opt. Call | N/R | 518,775 | ||||||||||||||
500 | 4.750%, 2/01/20 | No Opt. Call | N/R | 520,710 | ||||||||||||||
500 | 4.750%, 8/01/20 | No Opt. Call | N/R | 519,760 | ||||||||||||||
250 | 4.750%, 2/01/21 | No Opt. Call | N/R | 256,048 | ||||||||||||||
500 | 4.750%, 8/01/21 | No Opt. Call | N/R | 509,690 | ||||||||||||||
500 | 5.000%, 2/01/22 | No Opt. Call | N/R | 515,520 | ||||||||||||||
500 | 5.000%, 8/01/22 | 2/22 at 100.00 | N/R | 512,765 | ||||||||||||||
500 | 5.000%, 8/01/23 | 2/22 at 100.00 | N/R | 506,910 | ||||||||||||||
500 | 5.000%, 2/01/24 | 2/22 at 100.00 | N/R | 501,240 | ||||||||||||||
1,250 | Portage Township Multi-School Building Corporation, Porter County, Indiana, First Mortgage Bonds, Series 2007, 4.000%, 7/15/18 – NPFG Insured | 7/17 at 100.00 | AA+ | 1,373,638 | ||||||||||||||
1,370 | Southwind Housing Inc., Evansville, Indiana, First Mortgage Revenue Bonds, Series 1978A, 7.125%, 11/15/21 (ETM) | 5/14 at 100.00 | N/R (4) | 1,678,086 | ||||||||||||||
5,210 | St. Joseph County Hospital Authority, Indiana, Revenue Bonds, Madison Center Inc., Series 2005, 5.000%, 2/15/17 (7) | 2/15 at 100.00 | N/R | 561,482 | ||||||||||||||
St. Joseph County, Indiana, Economic Development Revenue Bonds, Holy Cross Village at Notre Dame, Series 2006A: | ||||||||||||||||||
450 | 5.750%, 5/15/16 | No Opt. Call | N/R | 468,054 | ||||||||||||||
230 | 5.550%, 5/15/19 | 11/13 at 100.00 | N/R | 230,154 | ||||||||||||||
51,650 | Total Indiana | 50,717,565 | ||||||||||||||||
Iowa – 1.4% | ||||||||||||||||||
Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011: | ||||||||||||||||||
1,000 | 5.250%, 6/15/25 | 6/20 at 100.00 | A2 | 1,067,610 | ||||||||||||||
2,000 | 5.250%, 6/15/26 | 6/20 at 100.00 | A2 | 2,116,820 | ||||||||||||||
3,135 | 5.250%, 6/15/27 | 6/20 at 100.00 | A2 | 3,289,399 | ||||||||||||||
2,000 | 5.375%, 6/15/28 | 6/20 at 100.00 | A2 | 2,095,060 | ||||||||||||||
2,035 | 5.500%, 6/15/29 | 6/20 at 100.00 | A2 | 2,134,288 | ||||||||||||||
Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011: | ||||||||||||||||||
1,830 | 5.000%, 1/01/23 – AGM Insured | 1/21 at 100.00 | AA– | 2,039,389 | ||||||||||||||
1,890 | 5.000%, 1/01/24 – AGM Insured | 1/21 at 100.00 | AA– | 2,085,880 | ||||||||||||||
1,520 | 5.000%, 1/01/25 – AGM Insured | 1/21 at 100.00 | AA– | 1,656,298 | ||||||||||||||
1,000 | 5.000%, 1/01/26 – AGM Insured | 1/21 at 100.00 | AA– | 1,079,170 | ||||||||||||||
10,000 | Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2013A, 5.250%, 2/15/44 | 2/23 at 100.00 | Aa3 | 10,198,100 | ||||||||||||||
Iowa Finance Authority, Health Facility Revenue Bonds, Care Initiatives Project, Series 2006A: | ||||||||||||||||||
2,235 | 5.250%, 7/01/14 | No Opt. Call | BB+ | 2,259,764 | ||||||||||||||
4,460 | 5.250%, 7/01/15 | No Opt. Call | BB+ | 4,567,218 | ||||||||||||||
2,000 | 5.250%, 7/01/16 | No Opt. Call | BB+ | 2,065,340 | ||||||||||||||
820 | 5.000%, 7/01/19 | 7/16 at 100.00 | BB+ | 826,453 | ||||||||||||||
8,640 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19 | No Opt. Call | BB– | 8,397,043 | ||||||||||||||
1,250 | Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Upper Iowa University Project, Refunding Series 2010, 5.500%, 9/01/25 | 9/20 at 100.00 | BBB | 1,338,688 |
Nuveen Investments | 83 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Iowa (continued) | ||||||||||||||||||
Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Wartburg College, Series 2005A: | ||||||||||||||||||
$ | 925 | 4.700%, 10/01/16 | 4/14 at 100.00 | BB | $ | 928,247 | ||||||||||||
1,100 | 4.750%, 10/01/17 | 4/14 at 100.00 | BB | 1,102,860 | ||||||||||||||
1,155 | 4.800%, 10/01/18 | 4/14 at 100.00 | BB | 1,156,802 | ||||||||||||||
2,000 | Iowa State, Special Obligation Bonds, Prison Infrastructure Fund, Refunding Series 2010, 4.500%, 6/15/22 | 6/20 at 100.00 | AA | 2,243,640 | ||||||||||||||
50,995 | Total Iowa | 52,648,069 | ||||||||||||||||
Kansas – 1.7% | ||||||||||||||||||
17,740 | Burlington, Kansas, Environmental Improvement Revenue Bonds, Kansas City Power and Light Company Project, Refunding Series 1993A, 2.950%, 12/01/23 | 4/23 at 101.00 | A– | 16,967,778 | ||||||||||||||
10,000 | Burlington, Kansas, Environmental Improvement Revenue Bonds, Kansas City Power and Light Company Project, Refunding Series 1993B, 2.950%, 12/01/23 | 4/23 at 101.00 | A– | 9,564,700 | ||||||||||||||
2,050 | Johnson County Unified School District 512, Shawnee Mission, Kansas, General Obligation Refunding Bonds, Refunding Series 1996, 4.875%, 10/01/19 | No Opt. Call | Aaa | 2,328,267 | ||||||||||||||
2,200 | Kansas Development Finance Authority Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C, 5.500%, 11/15/23 | 11/19 at 100.00 | AA | 2,562,120 | ||||||||||||||
1,405 | Kansas Development Finance Authority, Health Facilities Revenue Bonds, Hays Medical Center Inc., Series 2005L, 4.500%, 11/15/17 | 11/15 at 100.00 | A2 | 1,489,722 | ||||||||||||||
1,850 | Kansas Development Finance Authority, Revenue Bonds, Kansas State Projects, Series 2007K, 4.500%, 11/01/19 – NPFG Insured | 11/17 at 100.00 | AA | 2,056,997 | ||||||||||||||
1,000 | Olathe, Kansas, Health Facilities Revenue Bonds, Olathe Medical Center, Series 2008, 5.125%, 9/01/21 | 9/17 at 100.00 | A+ | 1,072,680 | ||||||||||||||
Olathe, Kansas, Senior Living Facility Revenue Bonds, Catholic Care Campus Santa Marta, Series 2006A: | ||||||||||||||||||
700 | 5.750%, 11/15/13 | No Opt. Call | N/R | 700,637 | ||||||||||||||
765 | 5.750%, 11/15/14 | No Opt. Call | N/R | 781,493 | ||||||||||||||
820 | 5.750%, 11/15/15 | No Opt. Call | N/R | 849,684 | ||||||||||||||
85 | Sedgwick and Shawnee Counties, Kansas, GNMA Mortgage-Backed Securities Program Single Family Revenue Bonds, Series 1997A-2, 6.700%, 6/01/29 | No Opt. Call | Aaa | 86,410 | ||||||||||||||
10,000 | Wichita, Kansas, Hospital Facilities Revenue Refunding and Improvement Bonds, Via Christi Health System Inc., Series 2011A-IV, 5.000%, 11/15/29 (Pre-refunded 11/15/21) | 11/21 at 100.00 | N/R (4) | 12,110,300 | ||||||||||||||
19,775 | Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 | No Opt. Call | BBB+ | 13,199,813 | ||||||||||||||
68,390 | Total Kansas | 63,770,601 | ||||||||||||||||
Kentucky – 1.4% | ||||||||||||||||||
8,175 | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 5.750%, 12/01/28 – AGC Insured | 6/18 at 100.00 | AA– | 8,480,582 | ||||||||||||||
20,670 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 83, Series 2004, 5.000%, 10/01/18 – AMBAC Insured | No Opt. Call | Aa3 | 24,209,531 | ||||||||||||||
7,000 | Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/28 | 6/21 at 100.00 | Aa3 | 7,463,470 | ||||||||||||||
1,135 | Louisville and Jefferson County Metropolitan Government, Kentucky, General Revenue Bonds, Bellarmine University, Series 2008A, 6.000%, 5/01/28 | 5/18 at 100.00 | Baa3 | 1,197,993 | ||||||||||||||
4,420 | Louisville-Jefferson County Metropolitan Government, Kentucky, Environmental Facilities Revenue, Louisville Gas & Electric Company Project, Series 2007B, 1.600%, 6/01/33 (Mandatory put 6/01/17) | No Opt. Call | A– | 4,461,548 | ||||||||||||||
8,200 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2003A, 1.650%, 10/01/33 (Mandatory put 4/03/17) | No Opt. Call | A+ | 8,281,098 | ||||||||||||||
49,600 | Total Kentucky | 54,094,222 | ||||||||||||||||
Louisiana – 2.5% | ||||||||||||||||||
12,180 | Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006B, 5.000%, 6/01/15 – AMBAC Insured | No Opt. Call | A– | 12,910,069 | ||||||||||||||
2,000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Hotel LLC Project, Series 2007A, 6.750%, 12/15/37 (7) | 12/17 at 100.00 | N/R | 840,300 |
84 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Louisiana (continued) | ||||||||||||||||||
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A: | ||||||||||||||||||
$ | 2,015 | 5.000%, 5/15/16 | No Opt. Call | Baa1 | $ | 2,183,111 | ||||||||||||
5,155 | 5.000%, 5/15/20 | 5/17 at 100.00 | Baa1 | 5,563,070 | ||||||||||||||
Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A: | ||||||||||||||||||
1,000 | 5.000%, 7/01/22 | No Opt. Call | A | 1,136,080 | ||||||||||||||
2,750 | 5.000%, 7/01/29 | 7/23 at 100.00 | A | 2,896,328 | ||||||||||||||
5,000 | 5.000%, 7/01/31 | 7/23 at 100.00 | A | 5,170,150 | ||||||||||||||
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2005A: | ||||||||||||||||||
2,765 | 5.250%, 5/01/18 (Pre-refunded 5/01/15) – FGIC Insured | 5/15 at 100.00 | Aa1 (4) | 2,971,794 | ||||||||||||||
5,500 | 5.000%, 5/01/24 (Pre-refunded 5/01/15) – FGIC Insured | 5/15 at 100.00 | Aa1 (4) | 5,890,775 | ||||||||||||||
7,265 | 5.000%, 5/01/26 (Pre-refunded 5/01/15) – FGIC Insured | 5/15 at 100.00 | Aa1 (4) | 7,781,178 | ||||||||||||||
22,115 | Louisiana State, General Obligation Bonds, Series 2012A, 5.000%, 8/01/26 | 8/22 at 100.00 | Aa2 | 25,391,780 | ||||||||||||||
New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2012: | ||||||||||||||||||
4,140 | 5.000%, 12/01/19 | No Opt. Call | A3 | 4,770,025 | ||||||||||||||
3,940 | 5.000%, 12/01/20 | No Opt. Call | A3 | 4,516,895 | ||||||||||||||
5,400 | 5.000%, 12/01/21 | No Opt. Call | A3 | 6,135,318 | ||||||||||||||
500 | Port New Orleans Board of Commissioners, Louisiana, Revenue Bonds, Port Facilities, Refunding Series 2013B, 5.000%, 4/01/30 (Alternative Minimum Tax) | 4/23 at 100.00 | BBB+ | 501,840 | ||||||||||||||
5,745 | Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) | No Opt. Call | BBB | 5,753,560 | ||||||||||||||
87,470 | Total Louisiana | 94,412,273 | ||||||||||||||||
Maine – 0.2% | ||||||||||||||||||
320 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 3.000%, 7/01/23 | No Opt. Call | Baa1 | 298,454 | ||||||||||||||
Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011: | ||||||||||||||||||
1,000 | 6.750%, 7/01/36 | 7/21 at 100.00 | BBB– | 1,060,560 | ||||||||||||||
3,850 | 6.750%, 7/01/41 | 7/21 at 100.00 | BBB– | 4,063,637 | ||||||||||||||
740 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2007B, 4.125%, 7/01/18 – FGIC Insured | 1/18 at 100.00 | AA | 806,903 | ||||||||||||||
Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
500 | 4.000%, 7/01/18 | No Opt. Call | BBB+ | 547,500 | ||||||||||||||
225 | 4.000%, 7/01/20 | No Opt. Call | BBB+ | 243,162 | ||||||||||||||
290 | 5.000%, 7/01/22 | No Opt. Call | BBB+ | 328,993 | ||||||||||||||
6,925 | Total Maine | 7,349,209 | ||||||||||||||||
Maryland – 0.1% | ||||||||||||||||||
300 | Maryland Community Development Administration, Housing Revenue Bonds, Series 1996A, 5.875%, 7/01/16 | 1/14 at 100.00 | Aa2 | 300,903 | ||||||||||||||
250 | Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation Facilities Project, Series 2010A, 5.750%, 6/01/35 | 6/20 at 100.00 | Baa3 | 253,855 | ||||||||||||||
2,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System, Series 2010, 5.250%, 7/01/24 | 7/19 at 100.00 | A2 | 2,172,520 | ||||||||||||||
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006: | ||||||||||||||||||
350 | 5.000%, 11/01/13 | No Opt. Call | BBB+ | 350,000 | ||||||||||||||
700 | 4.000%, 11/01/15 | No Opt. Call | BBB+ | 731,290 | ||||||||||||||
3,600 | Total Maryland | 3,808,568 | ||||||||||||||||
Massachusetts – 2.7% | ||||||||||||||||||
2,975 | Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 – FGIC Insured | No Opt. Call | AA+ | 3,546,141 | ||||||||||||||
10,000 | Massachusetts Bay Transportation Authority, Senior Lien Sales Tax Revenue Refunding Bonds, Series 2004B, 5.250%, 7/01/20 | No Opt. Call | AAA | 12,161,700 | ||||||||||||||
2,500 | Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.650%, 10/15/28 | 10/17 at 100.00 | N/R | 2,560,000 | ||||||||||||||
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007: | ||||||||||||||||||
1,355 | 5.000%, 10/01/17 | No Opt. Call | N/R | 1,375,623 | ||||||||||||||
515 | 5.000%, 10/01/18 | 10/17 at 100.00 | N/R | 519,712 |
Nuveen Investments | 85 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Massachusetts (continued) | ||||||||||||||||||
Massachusetts Development Finance Authority, Revenue Bonds, Suffolk University, Series 2010: | ||||||||||||||||||
$ | 915 | 4.500%, 7/01/21 | 7/20 at 100.00 | Baa2 | $ | 975,427 | ||||||||||||
1,765 | 4.500%, 7/01/22 | 7/20 at 100.00 | Baa2 | 1,864,775 | ||||||||||||||
1,705 | 4.625%, 7/01/23 | 7/20 at 100.00 | Baa2 | 1,796,337 | ||||||||||||||
1,125 | Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 4.800%, 1/01/17 (Alternative Minimum Tax) | 1/14 at 100.00 | AA | 1,198,811 | ||||||||||||||
2,000 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health System, Series 2005F, 5.000%, 10/01/15 – AGC Insured | No Opt. Call | AA– | 2,140,980 | ||||||||||||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College, Series 2010: | ||||||||||||||||||
500 | 5.125%, 10/15/22 | 10/19 at 100.00 | Baa1 | 553,315 | ||||||||||||||
2,595 | 5.500%, 10/15/26 | 10/19 at 100.00 | Baa1 | 2,841,291 | ||||||||||||||
3,000 | Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 6.000%, 7/01/24 | 7/19 at 100.00 | BBB | 3,392,220 | ||||||||||||||
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A: | ||||||||||||||||||
330 | 5.500%, 1/01/15 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 329,984 | ||||||||||||||
140 | 5.500%, 1/01/17 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 140,055 | ||||||||||||||
50 | 5.200%, 1/01/20 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 49,918 | ||||||||||||||
1,465 | 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) | 1/14 at 100.00 | N/R | 1,347,859 | ||||||||||||||
10,000 | Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2001D, 5.500%, 11/01/14 | No Opt. Call | AA+ | 10,531,400 | ||||||||||||||
10,000 | Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2004D, 5.000%, 12/01/22 (Pre-refunded 12/01/14) – AGM Insured | 12/14 at 100.00 | AA+ (4) | 10,521,000 | ||||||||||||||
29,340 | Massachusetts, General Obligation Bonds, Series 2004C, 5.500%, 12/01/16 – AGM Insured | No Opt. Call | AA+ | 33,739,826 | ||||||||||||||
12,000 | Massachusetts, Special Obligation Refunding Notes, Federal Highway Grant Anticipation Note Program, Series 2003A, 5.000%, 12/15/13 – AGM Insured | No Opt. Call | AAA | 12,071,760 | ||||||||||||||
1,400 | Springfield, Massachusetts, General Obligation Bonds, Refunding Series 2007, 4.500%, 8/01/20 – AGM Insured | 2/17 at 100.00 | AA | 1,530,396 | ||||||||||||||
95,675 | Total Massachusetts | 105,188,530 | ||||||||||||||||
Michigan – 5.1% | ||||||||||||||||||
790 | Algonac Community Schools, Saint Clair County, Michigan, General Obligation Bonds, School Building & Site Series 2008-I, 4.000%, 5/01/19 – AGM Insured | 5/18 at 100.00 | Aa2 | 847,591 | ||||||||||||||
Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development Area 1 Projects, Series 1996B: | ||||||||||||||||||
3,050 | 0.000%, 7/01/22 | No Opt. Call | A– | 1,768,299 | ||||||||||||||
2,650 | 0.000%, 7/01/23 | No Opt. Call | A– | 1,428,615 | ||||||||||||||
2,880 | 0.000%, 7/01/24 | No Opt. Call | A– | 1,444,464 | ||||||||||||||
7,100 | Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.000%, 7/01/32 | 7/22 at 100.00 | BBB+ | 6,456,953 | ||||||||||||||
7,780 | Detroit, Michigan, General Obligation Bonds, Series 2004B-1, 5.250%, 4/01/17 – AMBAC Insured (7) | 4/14 at 100.00 | Caa3 | 7,107,419 | ||||||||||||||
9,995 | Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series 2001D-2, 0.280%, 7/01/32 – NPFG Insured (9) | 1/14 at 100.00 | A | 7,027,662 | ||||||||||||||
9,295 | Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2006A, 5.000%, 7/01/19 – AGM Insured | 7/16 at 100.00 | AA– | 9,289,795 | ||||||||||||||
7,050 | Dickinson County Economic Development Corporation, Michigan, Pollution Control Revenue Bonds, International Paper Company, Series 2004A, 4.800%, 11/01/18 | 11/14 at 100.00 | BBB | 7,243,734 | ||||||||||||||
2,675 | Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Methodist Hospital, Refunding Series 2003A, 5.000%, 5/15/20 – AGM Insured | 5/18 at 100.00 | AA– | 2,970,400 | ||||||||||||||
1,080 | Kent Hospital Finance Authority, Michigan, Revenue Bonds, Metropolitan Hospital, Series 2005A, 5.500%, 7/01/14 | No Opt. Call | BB+ | 1,094,407 | ||||||||||||||
5,925 | Livonia Public Schools, Wayne County, Michigan, General Obligation Bonds, Series 2004A, 4.500%, 5/01/20 – NPFG Insured | 5/14 at 100.00 | A1 | 6,012,572 | ||||||||||||||
Michigan Finance Authority, Revenue Bonds, Detroit City School District, Series 2012: | ||||||||||||||||||
1,535 | 5.000%, 6/01/17 | No Opt. Call | A+ | 1,674,808 | ||||||||||||||
800 | 4.000%, 6/01/17 | No Opt. Call | A+ | 841,296 | ||||||||||||||
2,220 | 5.000%, 6/01/18 | No Opt. Call | A+ | 2,442,200 | ||||||||||||||
1,900 | 5.000%, 6/01/19 | No Opt. Call | A+ | 2,087,302 | ||||||||||||||
Michigan Finance Authority, Unemployment Obligation Assessment Revenue Bonds, Series 2012B: | ||||||||||||||||||
15,250 | 5.000%, 7/01/21 | 7/18 at 100.00 | AAA | 17,269,558 | ||||||||||||||
17,575 | 5.000%, 7/01/22 | 7/16 at 100.00 | AAA | 19,238,825 |
86 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Michigan (continued) | ||||||||||||||||||
$ | 11,090 | 5.000%, 1/01/23 | 1/16 at 100.00 | AAA | $ | 11,931,509 | ||||||||||||
6,850 | 5.000%, 7/01/23 | 7/14 at 100.00 | AAA | 7,052,075 | ||||||||||||||
10,110 | Michigan Hospital Finance Authority, Refunding and Project Revenue Bonds, Ascension Health Senior Credit Group, Series 2010F-5, 1.500%, 11/15/47 (Mandatory put 3/15/17) | No Opt. Call | AA+ | 10,146,093 | ||||||||||||||
3,540 | Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/23 | 11/19 at 100.00 | AA+ | 3,913,116 | ||||||||||||||
Michigan Hospital Financing Authority, Revenue Bonds, Oakwood Obligated Group, Series 2007A: | ||||||||||||||||||
2,000 | 5.000%, 7/15/18 | 7/17 at 100.00 | A | 2,202,000 | ||||||||||||||
3,530 | 5.000%, 7/15/19 | 7/17 at 100.00 | A | 3,823,590 | ||||||||||||||
1,850 | Michigan Municipal Bond Authority, AMBAC Insured Bonds, Series 2007B-A, 5.000%, 12/01/18 – AMBAC Insured | 6/17 at 100.00 | N/R | 1,934,064 | ||||||||||||||
6,930 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2005I, 5.000%, 10/15/33 – AMBAC Insured | 10/15 at 100.00 | Aa3 | 6,994,657 | ||||||||||||||
5,000 | Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series 2011-I-A, 5.000%, 10/15/28 | 10/21 at 100.00 | Aa3 | 5,240,450 | ||||||||||||||
5,425 | Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series 2011-II-A, 5.000%, 10/15/28 | 10/21 at 100.00 | Aa3 | 5,685,888 | ||||||||||||||
1,600 | Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/23 | 11/19 at 100.00 | AA+ | 1,779,920 | ||||||||||||||
Monroe County Hospital Finance Authority, Michigan, Mercy Memorial Hospital Corporation Revenue Bonds, Series 2006: | ||||||||||||||||||
1,080 | 5.000%, 6/01/14 | No Opt. Call | BBB | 1,106,471 | ||||||||||||||
1,260 | 5.500%, 6/01/17 | 6/16 at 100.00 | BBB | 1,389,087 | ||||||||||||||
1,330 | 5.500%, 6/01/18 | 6/16 at 100.00 | BBB | 1,456,589 | ||||||||||||||
4,750 | Romulus Community Schools, Wayne County, Michigan, General Obligation Bonds, Refunding Series 2013, 5.000%, 5/01/22 | No Opt. Call | Aa2 | 5,423,740 | ||||||||||||||
1,300 | Romulus Economic Development Corporation, Michigan, Limited Obligation Revenue Refunding Bonds, Romulus HIR LP Project, Series 1992, 7.000%, 11/01/15 (ETM) | 1/14 at 100.00 | N/R (4) | 1,466,582 | ||||||||||||||
Walled Lake Consolidated School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2011: | ||||||||||||||||||
4,885 | 5.000%, 5/01/20 | No Opt. Call | Aa2 | 5,583,164 | ||||||||||||||
4,845 | 5.000%, 5/01/21 | 11/20 at 100.00 | Aa2 | 5,487,835 | ||||||||||||||
3,845 | 5.000%, 5/01/22 | 11/20 at 100.00 | Aa2 | 4,304,170 | ||||||||||||||
1,440 | Wayne Charter County, Michigan, General Obligation Bonds, Building Improvements, Series 2009A, 6.750%, 11/01/39 | 12/19 at 100.00 | BBB– | 1,528,862 | ||||||||||||||
8,000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010C, 5.000%, 12/01/16 | No Opt. Call | A | 8,921,200 | ||||||||||||||
1,300 | Western Michigan University, General Revenue Refunding Bonds, Series 2008, 5.000%, 11/15/23 – AGM Insured | 5/18 at 100.00 | AA– | 1,448,187 | ||||||||||||||
191,510 | Total Michigan | 195,065,149 | ||||||||||||||||
Minnesota – 0.6% | ||||||||||||||||||
1,590 | Aitkin, Minnesota Health Care Revenue Bonds, Riverwood Healthcare Center, Series 2006, 5.375%, 2/01/17 | 2/16 at 100.00 | N/R | 1,638,129 | ||||||||||||||
1,710 | Cass Lake Independent School District 115, Minnesota, General Obligation Bonds, School Building Refunding Series 2010A, 5.000%, 2/01/27 | 2/20 at 100.00 | AA+ | 1,869,594 | ||||||||||||||
2,115 | Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.375%, 11/15/23 | 11/18 at 100.00 | A | 2,485,188 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010: | ||||||||||||||||||
2,650 | 5.000%, 8/01/18 | No Opt. Call | BBB | 2,904,957 | ||||||||||||||
1,240 | 4.250%, 8/01/20 | 8/18 at 100.00 | BBB | 1,272,476 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: | ||||||||||||||||||
1,255 | 5.500%, 5/01/20 | 5/17 at 100.00 | N/R | 1,305,213 | ||||||||||||||
815 | 5.500%, 5/01/21 | 5/17 at 100.00 | N/R | 841,724 | ||||||||||||||
1,225 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/15 – AGC Insured | No Opt. Call | AA– | 1,292,216 | ||||||||||||||
650 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2013, 5.000%, 7/01/33 | 7/23 at 100.00 | A– | 673,407 | ||||||||||||||
1,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/21 | 11/16 at 100.00 | A | 1,061,420 | ||||||||||||||
1,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1, 5.000%, 11/15/24 | 11/19 at 100.00 | AA– | 1,095,650 |
Nuveen Investments | 87 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Minnesota (continued) | ||||||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Children’s Specialty Healthcare, Series 2005: | ||||||||||||||||||
$ | 400 | 5.000%, 2/01/14 | No Opt. Call | N/R | $ | 403,564 | ||||||||||||
300 | 5.000%, 2/01/15 | No Opt. Call | N/R | 312,408 | ||||||||||||||
2,570 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Office Building at Cedar Street, Series 2003, 5.000%, 12/01/13 | No Opt. Call | AA | 2,580,434 | ||||||||||||||
475 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/21 | 8/16 at 100.00 | N/R | 485,992 | ||||||||||||||
2,670 | St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005, 5.750%, 11/15/21 | 11/15 at 100.00 | BBB– | 2,797,332 | ||||||||||||||
21,665 | Total Minnesota | 23,019,704 | ||||||||||||||||
Mississippi – 0.6% | ||||||||||||||||||
8,660 | Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22 | 4/14 at 100.00 | BBB | 8,659,307 | ||||||||||||||
Mississippi Hospital Equipment and Facilities Authority, Revenue Refunding and Improvement Bonds, Mississippi Baptist Health System Inc., Series 2007A: | ||||||||||||||||||
1,440 | 5.000%, 8/15/16 | No Opt. Call | A– | 1,582,546 | ||||||||||||||
10,140 | 5.000%, 8/15/20 | 8/17 at 100.00 | A– | 10,929,703 | ||||||||||||||
20,240 | Total Mississippi | 21,171,556 | ||||||||||||||||
Missouri – 2.0% | ||||||||||||||||||
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeast Missouri Hospital Association, Series 2007: | ||||||||||||||||||
1,245 | 5.000%, 6/01/18 | 6/17 at 100.00 | BBB+ | 1,349,119 | ||||||||||||||
3,030 | 5.000%, 6/01/20 | 6/17 at 100.00 | BBB+ | 3,200,922 | ||||||||||||||
1,000 | Grundy County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Wright Memorial Hospital, Series 2009, 5.600%, 9/01/21 | 9/19 at 100.00 | BBB– | 1,053,800 | ||||||||||||||
Hannibal Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Hannibal Regional Hospital, Series 2006: | ||||||||||||||||||
1,405 | 4.350%, 3/01/14 | No Opt. Call | BBB+ | 1,419,191 | ||||||||||||||
1,465 | 4.400%, 3/01/15 | No Opt. Call | BBB+ | 1,518,912 | ||||||||||||||
1,515 | 4.450%, 3/01/16 | No Opt. Call | BBB+ | 1,607,567 | ||||||||||||||
6,020 | Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2004, 5.500%, 2/15/19 | 2/15 at 102.00 | BBB+ | 6,329,308 | ||||||||||||||
1,500 | Kansas City Industrial Development Authority, Missouri, Retirement Center Revenue Refunding and Improvement Bonds, Kingswood Project, Series 1998A, 5.800%, 11/15/17 | 11/13 at 100.00 | N/R | 1,497,285 | ||||||||||||||
505 | Kansas City, Missouri, Special Obligation Bonds, East Village Project, Series 2008B, 5.000%, 4/15/22 – AGC Insured | 4/18 at 100.00 | AA– | 570,812 | ||||||||||||||
1,285 | Missouri Development Finance Board, Infrastructure Facilities Leasehold Revenue Bonds, Independence Electric System Projects, Series 2009D, 5.625%, 6/01/29 (Pre-refunded 6/01/14) | 6/14 at 100.00 | A (4) | 1,325,824 | ||||||||||||||
2,000 | Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, City of Independence, Crackerneck Creek Project, Series 2008B, 5.125%, 3/01/22 | 3/18 at 100.00 | A– | 2,130,940 | ||||||||||||||
1,130 | Missouri Development Finance Board, Research Facility Revenue Bonds, Midwest Research Institute Project, Series 2007, 5.000%, 11/01/16 | No Opt. Call | Baa2 | 1,231,610 | ||||||||||||||
430 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2011, 4.400%, 2/01/19 | No Opt. Call | BBB+ | 459,790 | ||||||||||||||
Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services, Series 2005B: | ||||||||||||||||||
850 | 4.350%, 2/01/15 | No Opt. Call | BBB+ | 877,914 | ||||||||||||||
930 | 4.375%, 2/01/16 | No Opt. Call | BBB+ | 981,699 | ||||||||||||||
1,000 | Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006, 4.200%, 1/01/18 – NPFG Insured | 1/16 at 100.00 | A | 1,042,890 | ||||||||||||||
4,330 | Missouri Joint Municipal Electric Utility Commission, Prairie State Power Project Revenue Bonds, Series 2007A, 5.000%, 1/01/18 – AMBAC Insured | 1/17 at 100.00 | A | 4,852,631 | ||||||||||||||
1,060 | Osage Beach, Missouri, Tax Increment Revenue Bonds, Prewitts Point Transportation Development District, Series 2006, 4.800%, 5/01/16 | 11/13 at 100.00 | N/R | 1,054,562 | ||||||||||||||
5,830 | Sikeston, Missouri, Electric System Revenue Refunding Bonds, Series 2012, 5.000%, 6/01/18 | No Opt. Call | BBB+ | 6,568,486 |
88 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Missouri (continued) | ||||||||||||||||||
$ | 500 | St. Joseph Industrial Development Authority, Missouri, Tax Increment Bonds, Shoppes at North Village Project, Series 2005A, 5.100%, 11/01/19 | | 11/14 at 100.00 | | N/R | $ | 504,605 | ||||||||||
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005: | ||||||||||||||||||
11,500 | 5.500%, 7/01/17 – NPFG Insured | No Opt. Call | A | 13,345,175 | ||||||||||||||
17,305 | 5.500%, 7/01/19 – NPFG Insured | No Opt. Call | A | 20,529,441 | ||||||||||||||
1,200 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/25 – AGM Insured | No Opt. Call | AA– | 1,283,904 | ||||||||||||||
67,035 | Total Missouri | 74,736,387 | ||||||||||||||||
Montana – 0.2% | ||||||||||||||||||
Montana Facilities Finance Authority, Revenue Bonds, Saint John’s Lutheran Ministries Project, Series 2006A: | ||||||||||||||||||
1,385 | 5.750%, 5/15/16 | No Opt. Call | N/R | 1,437,173 | ||||||||||||||
1,675 | 6.000%, 5/15/25 | 5/16 at 100.00 | N/R | 1,690,795 | ||||||||||||||
2,500 | Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Composite Deal Series 2010B, 5.000%, 1/01/24 | 1/20 at 100.00 | AA– | 2,729,450 | ||||||||||||||
5,560 | Total Montana | 5,857,418 | ||||||||||||||||
Nebraska – 0.7% | ||||||||||||||||||
1,130 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.125%, 1/01/23 | 1/20 at 100.00 | AA– | 1,211,247 | ||||||||||||||
600 | Douglas County Hospital Authority 3, Nebraska, Health Facilities Refunding and Revenue Bonds, Nebraska Methodist Health System, Series 2008, 5.750%, 11/01/28 | | 11/18 at 100.00 | | BBB+ | 625,476 | ||||||||||||
Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012: | ||||||||||||||||||
665 | 4.000%, 6/15/23 | 6/22 at 100.00 | AA– | 723,620 | ||||||||||||||
1,830 | 4.000%, 6/15/24 | 6/22 at 100.00 | AA– | 1,952,939 | ||||||||||||||
1,265 | 4.000%, 6/15/25 | 6/22 at 100.00 | AA– | 1,331,830 | ||||||||||||||
Lancaster County Hospital Authority 1, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010: | ||||||||||||||||||
735 | 4.750%, 1/01/19 | No Opt. Call | AA– | 812,226 | ||||||||||||||
1,000 | 5.125%, 1/01/23 | 1/20 at 100.00 | AA– | 1,078,160 | ||||||||||||||
2,000 | Lancaster County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, BryanLGH Medical Center Project, Refunding Series 2006, 4.000%, 6/01/18 | 6/16 at 100.00 | A1 | 2,117,480 | ||||||||||||||
5,910 | Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/32 | No Opt. Call | A– | 5,966,263 | ||||||||||||||
Lincoln, Nebraska, Electric System Revenue Bonds, Refunding Series 2012: | ||||||||||||||||||
3,380 | 5.000%, 9/01/25 | 9/22 at 100.00 | AA | 3,903,832 | ||||||||||||||
3,215 | 5.000%, 9/01/26 | 9/22 at 100.00 | AA | 3,658,831 | ||||||||||||||
Nebraska Public Power District, General Revenue Bonds, Series 2012A: | ||||||||||||||||||
1,465 | 5.000%, 1/01/23 | 1/22 at 100.00 | A1 | 1,688,383 | ||||||||||||||
1,500 | 5.000%, 1/01/24 | 1/22 at 100.00 | A1 | 1,716,975 | ||||||||||||||
950 | 5.000%, 1/01/25 | 1/22 at 100.00 | A1 | 1,077,110 | ||||||||||||||
25,645 | Total Nebraska | 27,864,372 | ||||||||||||||||
Nevada – 2.0% | ||||||||||||||||||
3,000 | Clark County School District, Nevada, General Obligation Bonds, Series 2008A, 5.000%, 6/15/24 | No Opt. Call | AA– | 3,283,920 | ||||||||||||||
Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A: | ||||||||||||||||||
2,000 | 5.000%, 7/01/22 (Alternative Minimum Tax) | No Opt. Call | A | 2,226,520 | ||||||||||||||
1,000 | 5.000%, 7/01/23 (Alternative Minimum Tax) | 1/23 at 100.00 | A | 1,100,660 | ||||||||||||||
1,905 | 5.000%, 7/01/24 (Alternative Minimum Tax) | 1/23 at 100.00 | A | 2,070,487 | ||||||||||||||
16,000 | Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42 | 1/20 at 100.00 | A+ | 17,431,040 | ||||||||||||||
1,880 | Henderson Local Improvement District T-4C, Nevada, Limited Obligation Refunding Bonds, Green Valley Properties, Series 1999A, 5.900%, 11/01/18 | 5/14 at 100.00 | N/R | 1,895,002 | ||||||||||||||
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B: | ||||||||||||||||||
2,000 | 5.000%, 6/01/24 | 6/22 at 100.00 | AA+ | 2,289,000 | ||||||||||||||
1,500 | 5.000%, 6/01/25 | 6/22 at 100.00 | AA+ | 1,696,230 | ||||||||||||||
2,000 | 5.000%, 6/01/26 | 6/22 at 100.00 | AA+ | 2,237,780 |
Nuveen Investments | 89 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Nevada (continued) | ||||||||||||||||||
Las Vegas Valley Water District, Nevada, Limited Tax General Obligation Bonds, Water & Refunding Series 2011C: | ||||||||||||||||||
$ | 1,550 | 5.000%, 6/01/23 | 6/21 at 100.00 | AA+ | $ | 1,770,612 | ||||||||||||
1,000 | 5.000%, 6/01/24 | 6/21 at 100.00 | AA+ | 1,129,540 | ||||||||||||||
12,450 | 5.000%, 6/01/25 | 6/21 at 100.00 | AA+ | 13,822,737 | ||||||||||||||
Las Vegas, Nevada, Special Improvement District 607 Providence, Local Improvement Refunding Bonds, Series 2013: | ||||||||||||||||||
100 | 4.000%, 6/01/19 | No Opt. Call | N/R | 98,929 | ||||||||||||||
50 | 4.000%, 6/01/20 | No Opt. Call | N/R | 48,811 | ||||||||||||||
450 | 5.000%, 6/01/22 | No Opt. Call | N/R | 457,335 | ||||||||||||||
4,660 | Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2012B, 5.000%, 8/01/22 | No Opt. Call | AA+ | 5,532,445 | ||||||||||||||
11,105 | Nevada State, General Obligation Bonds, Capital Improvement & Cultural Affairs, Refunding Series 2013D-1, 5.000%, 3/01/22 | No Opt. Call | AA+ | 13,137,548 | ||||||||||||||
Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011: | ||||||||||||||||||
2,265 | 5.000%, 7/01/22 | 7/21 at 100.00 | AA | 2,596,551 | ||||||||||||||
4,710 | 5.000%, 7/01/23 | 7/21 at 100.00 | AA | 5,324,985 | ||||||||||||||
69,625 | Total Nevada | 78,150,132 | ||||||||||||||||
New Hampshire – 0.7% | ||||||||||||||||||
New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds, Catholic Medical Center, Series 2006: | ||||||||||||||||||
405 | 5.000%, 7/01/14 | No Opt. Call | BBB+ | 417,263 | ||||||||||||||
430 | 5.000%, 7/01/15 | No Opt. Call | BBB+ | 459,133 | ||||||||||||||
445 | 5.000%, 7/01/16 | No Opt. Call | BBB+ | 489,429 | ||||||||||||||
1,000 | New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds, Speare Memorial Hospital, Series 2004, 5.500%, 7/01/25 (Pre-refunded 7/01/15) | 7/15 at 100.00 | N/R (4) | 1,078,430 | ||||||||||||||
1,250 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Covenant Health Systems Obligated Group Issue, Series 2004, 5.375%, 7/01/24 | 7/14 at 100.00 | A | 1,266,200 | ||||||||||||||
5,660 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Series 2009, 5.250%, 6/01/39 | 6/19 at 100.00 | AA+ | 6,164,815 | ||||||||||||||
1,000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, The Memorial Hospital, Series 2006, 5.250%, 6/01/21 | 6/16 at 100.00 | BBB | 1,020,240 | ||||||||||||||
1,300 | New Hampshire Municipal Bond Bank, Non-State Guaranteed Bonds, Refunding Series 2007A, 4.500%, 2/15/20 – NPFG Insured | 8/17 at 100.00 | AA | 1,427,673 | ||||||||||||||
12,125 | New Hampshire Municipal Bond Bank, Non-State Guaranteed Bonds, Series 2005d, 5.000%, 7/15/29 – NPFG Insured | 7/15 at 100.00 | A+ | 12,734,039 | ||||||||||||||
23,615 | Total New Hampshire | 25,057,222 | ||||||||||||||||
New Jersey – 6.3% | ||||||||||||||||||
New Jersey Economic Development Authority, Cigarette Tax Revenue Bonds, Series 2004: | ||||||||||||||||||
7,880 | 5.375%, 6/15/15 (ETM) | No Opt. Call | Aaa | 8,530,809 | ||||||||||||||
2,085 | 5.500%, 6/15/16 (ETM) | No Opt. Call | Aaa | 2,357,572 | ||||||||||||||
4,240 | 5.500%, 6/15/16 – RAAI Insured (ETM) | No Opt. Call | Aaa | 4,794,295 | ||||||||||||||
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: | ||||||||||||||||||
1,100 | 5.000%, 6/15/17 | No Opt. Call | BBB+ | 1,222,551 | ||||||||||||||
5,205 | 5.000%, 6/15/19 | No Opt. Call | BBB+ | 5,847,037 | ||||||||||||||
5,045 | 5.000%, 6/15/20 | No Opt. Call | BBB+ | 5,624,015 | ||||||||||||||
17,495 | 5.000%, 6/15/21 | No Opt. Call | BBB+ | 19,352,444 | ||||||||||||||
2,130 | 5.000%, 6/15/22 | No Opt. Call | BBB+ | 2,339,805 | ||||||||||||||
1,000 | 5.000%, 6/15/22 | No Opt. Call | AA– | 1,136,500 | ||||||||||||||
3,650 | 5.000%, 6/15/23 | 6/22 at 100.00 | BBB+ | 3,965,032 | ||||||||||||||
2,965 | 5.000%, 6/15/24 | 6/22 at 100.00 | BBB+ | 3,162,884 | ||||||||||||||
5,590 | 5.000%, 6/15/25 | 6/22 at 100.00 | BBB+ | 5,879,283 | ||||||||||||||
4,950 | 5.000%, 6/15/26 | 6/22 at 100.00 | BBB+ | 5,141,021 | ||||||||||||||
845 | 4.250%, 6/15/27 | 6/22 at 100.00 | BBB+ | 794,114 | ||||||||||||||
4,625 | 5.000%, 6/15/28 | 6/22 at 100.00 | BBB+ | 4,673,146 | ||||||||||||||
25,000 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2013NN, 5.000%, 3/01/21 | No Opt. Call | A+ | 29,070,750 | ||||||||||||||
400 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Children’s Specialized Hospital, Series 2005A, 5.000%, 7/01/18 | 7/15 at 100.00 | BBB | 418,960 |
90 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New Jersey (continued) | ||||||||||||||||||
$ | 31,405 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2005B, 5.250%, 12/15/15 – AMBAC Insured | No Opt. Call | A+ | $ | 34,593,864 | ||||||||||||
8,075 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2005B, 5.250%, 12/15/17 (Pre-refunded 12/15/15) – FGIC Insured | 12/15 at 100.00 | AA+ (4) | 8,916,334 | ||||||||||||||
1,340 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C, 0.000%, 12/15/31 – FGIC Insured | No Opt. Call | A+ | 509,307 | ||||||||||||||
10,050 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/23 | No Opt. Call | A+ | 11,598,404 | ||||||||||||||
3,670 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.500%, 6/15/31 | 6/21 at 100.00 | A+ | 3,995,749 | ||||||||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA: | ||||||||||||||||||
20,200 | 5.000%, 6/15/21 | No Opt. Call | A+ | 23,393,418 | ||||||||||||||
14,000 | 5.000%, 6/15/22 | No Opt. Call | A+ | 16,205,280 | ||||||||||||||
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Refunding Bonds, Series 2012Q: | ||||||||||||||||||
4,965 | 3.000%, 1/01/20 | No Opt. Call | A1 | 5,131,824 | ||||||||||||||
2,950 | 3.000%, 1/01/21 | No Opt. Call | A1 | 2,999,531 | ||||||||||||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A: | ||||||||||||||||||
14,230 | 4.500%, 6/01/23 | 6/17 at 100.00 | B1 | 13,213,409 | ||||||||||||||
625 | 4.625%, 6/01/26 | 6/17 at 100.00 | B1 | 539,838 | ||||||||||||||
20,500 | 5.000%, 6/01/29 | 6/17 at 100.00 | B2 | 16,730,460 | ||||||||||||||
226,215 | Total New Jersey | 242,137,636 | ||||||||||||||||
New York – 5.7% | ||||||||||||||||||
4,055 | Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 6.000%, 7/15/30 | 1/20 at 100.00 | BBB– | 4,284,189 | ||||||||||||||
Dormitory Authority of the State of New York, Mortgage Insurance Fund Project Pool Bonds, State of New York Mortgage Agency – AIDS Long Term Health Care Facility, Series 2005: | ||||||||||||||||||
720 | 5.000%, 11/01/13 | No Opt. Call | Aa1 | 720,000 | ||||||||||||||
355 | 5.000%, 11/01/14 | 11/13 at 100.00 | Aa1 | 356,434 | ||||||||||||||
5,125 | Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College, Series 2009, 5.000%, 7/01/24 | 7/19 at 100.00 | Baa2 | 5,382,326 | ||||||||||||||
7,050 | Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds, Upstate Community Colleges, Series 2005A, 5.500%, 7/01/20 – FGIC Insured | No Opt. Call | AA– | 8,465,852 | ||||||||||||||
Dormitory Authority of the State of New York, Third General Resolution Revenue Bonds, State University Educational Facilities Issue, Series 2012A: | ||||||||||||||||||
10,000 | 5.000%, 5/15/24 | 5/22 at 100.00 | AA– | 11,490,900 | ||||||||||||||
9,230 | 5.000%, 5/15/25 | 5/22 at 100.00 | AA– | 10,464,974 | ||||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A: | ||||||||||||||||||
95 | 0.000%, 6/01/17 – AGM Insured | No Opt. Call | AA– | 90,182 | ||||||||||||||
80 | 0.000%, 6/01/22 – AGM Insured | No Opt. Call | AA– | 61,906 | ||||||||||||||
150 | 0.000%, 6/01/23 – AGM Insured | No Opt. Call | AA– | 110,367 | ||||||||||||||
11,500 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2003B, 5.250%, 12/01/13 | No Opt. Call | A– | 11,547,035 | ||||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: | ||||||||||||||||||
710 | 5.000%, 12/01/16 – AGM Insured | 6/16 at 100.00 | AA– | 783,293 | ||||||||||||||
180 | 4.000%, 12/01/16 – AGM Insured | 6/16 at 100.00 | AA– | 193,999 | ||||||||||||||
1,705 | 5.000%, 12/01/19 – FGIC Insured | 6/16 at 100.00 | A | 1,859,354 | ||||||||||||||
415 | 5.250%, 12/01/20 – FGIC Insured | 6/16 at 100.00 | A | 451,985 | ||||||||||||||
350 | 5.000%, 12/01/23 – FGIC Insured | 6/16 at 100.00 | A | 377,423 | ||||||||||||||
540 | 5.000%, 12/01/26 – SYNCORA GTY Insured | 6/16 at 100.00 | A– | 573,016 | ||||||||||||||
270 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 5.000%, 12/01/35 | 6/16 at 100.00 | A– | 275,273 | ||||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006C: | ||||||||||||||||||
25 | 5.000%, 9/01/35 – AGC Insured | 9/16 at 100.00 | AA– | 25,725 | ||||||||||||||
230 | 5.000%, 9/01/35 | 9/16 at 100.00 | A– | 234,471 | ||||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006E: | ||||||||||||||||||
2,375 | 5.000%, 12/01/17 – FGIC Insured | 12/16 at 100.00 | A | 2,646,771 | ||||||||||||||
380 | 5.000%, 12/01/17 | 12/16 at 100.00 | A– | 422,750 | ||||||||||||||
1,340 | 5.000%, 12/01/18 – FGIC Insured | 12/16 at 100.00 | A | 1,480,780 | ||||||||||||||
13,490 | 5.000%, 12/01/18 – NPFG Insured | 12/16 at 100.00 | A | 14,907,259 | ||||||||||||||
70 | 5.000%, 12/01/20 – NPFG Insured | 12/16 at 100.00 | A | 76,931 |
Nuveen Investments | 91 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New York (continued) | ||||||||||||||||||
$ | 1,445 | 5.000%, 12/01/21 – FGIC Insured | 12/16 at 100.00 | A | $ | 1,585,338 | ||||||||||||
150 | 5.000%, 12/01/21 – NPFG Insured | 12/16 at 100.00 | A | 164,568 | ||||||||||||||
1,210 | 5.000%, 12/01/22 – FGIC Insured | 12/16 at 100.00 | A | 1,323,317 | ||||||||||||||
975 | 5.000%, 12/01/22 | 12/16 at 100.00 | A– | 1,066,309 | ||||||||||||||
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||||
15 | 5.000%, 4/01/19 | No Opt. Call | A– | 17,085 | ||||||||||||||
225 | 5.250%, 4/01/20 | 4/19 at 100.00 | A– | 250,927 | ||||||||||||||
1,730 | 5.500%, 4/01/22 | 4/19 at 100.00 | A– | 1,947,167 | ||||||||||||||
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F: | ||||||||||||||||||
850 | 5.000%, 5/01/16 – NPFG Insured | No Opt. Call | A | 930,793 | ||||||||||||||
345 | 5.000%, 5/01/17 – NPFG Insured | No Opt. Call | A | 385,952 | ||||||||||||||
10,240 | 5.000%, 5/01/18 – NPFG Insured | 11/16 at 100.00 | A | 11,291,750 | ||||||||||||||
755 | 5.000%, 5/01/19 – NPFG Insured | 11/16 at 100.00 | A | 831,383 | ||||||||||||||
25 | 4.000%, 5/01/21 – NPFG Insured | 11/16 at 100.00 | A | 25,878 | ||||||||||||||
935 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012B, 5.000%, 9/01/26 | 9/22 at 100.00 | A– | 1,007,313 | ||||||||||||||
15,310 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005B, 5.000%, 11/15/16 (Pre-refunded 11/15/15) – AMBAC Insured | 11/15 at 100.00 | A (4) | 16,755,876 | ||||||||||||||
2,000 | New York City Industrial Development Agency, New York, American Airlines-JFK International Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax) | 8/16 at 101.00 | N/R | 2,169,580 | ||||||||||||||
3,000 | New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Fiscal Series 2005C, 5.000%, 6/15/30 | 6/15 at 100.00 | AAA | 3,124,830 | ||||||||||||||
10,095 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007C-1, 5.000%, 11/01/16 | No Opt. Call | AAA | 11,433,395 | ||||||||||||||
10,000 | New York City, New York, General Obligation Bonds, Fiscal 2003 Series C-A. RMKT, 5.000%, 8/01/19 | No Opt. Call | Aa2 | 11,800,700 | ||||||||||||||
100 | New York City, New York, General Obligation Bonds, Fiscal Series 2002A, 5.750%, 8/01/15 | 2/14 at 100.00 | AA | 100,438 | ||||||||||||||
5,775 | New York City, New York, General Obligation Bonds, Fiscal Series 2004I, 5.000%, 8/01/17 – NPFG Insured | 8/14 at 100.00 | AA | 5,969,156 | ||||||||||||||
2,620 | New York City, New York, General Obligation Bonds, Fiscal Series 2005H, 5.000%, 8/01/17 – NPFG Insured | 8/14 at 100.00 | Aa2 | 2,712,329 | ||||||||||||||
2,380 | New York City, New York, General Obligation Bonds, Fiscal Series 2005H, 5.000%, 8/01/17 (Pre-refunded 8/01/14) – NPFG Insured | 8/14 at 100.00 | Aa2 (4) | 2,466,799 | ||||||||||||||
21,235 | New York City, New York, General Obligation Bonds, Fiscal Series 2007C-1, 5.000%, 10/01/18 | 10/17 at 100.00 | AA | 24,405,386 | ||||||||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1: | ||||||||||||||||||
1,675 | 5.250%, 6/01/20 – AMBAC Insured | 12/13 at 100.00 | AA– | 1,687,713 | ||||||||||||||
5,520 | 5.250%, 6/01/21 – AMBAC Insured | 12/13 at 100.00 | AA– | 5,536,836 | ||||||||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C: | ||||||||||||||||||
4,055 | 5.500%, 6/01/19 | 12/13 at 100.00 | AA– | 4,090,157 | ||||||||||||||
1,200 | 5.500%, 6/01/20 | 12/13 at 100.00 | AA– | 1,205,292 | ||||||||||||||
5,725 | 5.500%, 6/01/21 | 12/13 at 100.00 | AA– | 5,750,648 | ||||||||||||||
795 | Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42 | 12/20 at 100.00 | BBB | 855,134 | ||||||||||||||
Tobacco Settlement Financing Corporation, New York, Asset-Backed Revenue Bonds, State Contingency Contract Secured, Series 2011B: | ||||||||||||||||||
8,040 | 5.000%, 6/01/17 | No Opt. Call | AA– | 9,185,861 | ||||||||||||||
9,015 | 5.000%, 6/01/18 | No Opt. Call | AA– | 10,495,353 | ||||||||||||||
197,880 | Total New York | 217,856,458 | ||||||||||||||||
North Carolina – 1.2% | ||||||||||||||||||
900 | North Carolina Capital Facilities Financing Agency, Educational Facilities Revenue Bond, Meredith College, Series 2008A, 5.250%, 6/01/20 | 6/18 at 100.00 | BBB | 985,554 | ||||||||||||||
610 | North Carolina Capital Facilities Finance Agency, Revenue Bonds, The Methodist University, Series 2012, 3.750%, 3/01/24 | 3/22 at 100.00 | BBB | 583,691 | ||||||||||||||
2,000 | North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2009A, 5.500%, 1/01/26 | 1/19 at 100.00 | A– | 2,205,340 | ||||||||||||||
North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series 2012B: | ||||||||||||||||||
5,000 | 5.000%, 1/01/20 | No Opt. Call | A– | 5,787,450 | ||||||||||||||
21,620 | 5.000%, 1/01/21 | No Opt. Call | A– | 25,022,772 |
92 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
North Carolina (continued) | ||||||||||||||||||
$ | 1,700 | North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 2008A, 5.250%, 1/01/22 – AGC Insured | 1/18 at 100.00 | AA– | $ | 1,882,427 | ||||||||||||
2,120 | North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Presbyterian Homes, Series 2006B, 5.000%, 10/01/14 | No Opt. Call | N/R | 2,131,236 | ||||||||||||||
4,955 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2009A, 5.000%, 1/01/26 | 1/19 at 100.00 | A | 5,376,423 | ||||||||||||||
820 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2012A, 4.000%, 1/01/20 | No Opt. Call | A | 908,158 | ||||||||||||||
39,725 | Total North Carolina | 44,883,051 | ||||||||||||||||
North Dakota – 0.2% | ||||||||||||||||||
2,750 | Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31 | 11/21 at 100.00 | A+ | 3,110,745 | ||||||||||||||
Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2006: | ||||||||||||||||||
1,180 | 5.000%, 7/01/14 | No Opt. Call | BBB– | 1,208,025 | ||||||||||||||
2,410 | 5.125%, 7/01/20 | 7/16 at 100.00 | BBB– | 2,503,484 | ||||||||||||||
6,340 | Total North Dakota | 6,822,254 | ||||||||||||||||
Ohio – 3.0% | ||||||||||||||||||
1,000 | Akron, Ohio, Certificates of Participation, Refunding Series 2005, 5.000%, 12/01/15 – AGC Insured | 6/15 at 100.00 | AA– | 1,062,830 | ||||||||||||||
1,260 | Barberton City School District, Summit County, Ohio, General Obligation Bonds, School Improvement Series 2008, 4.750%, 12/01/21 | 6/18 at 100.00 | AA | 1,411,603 | ||||||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-1: | ||||||||||||||||||
375 | 5.000%, 6/01/15 | No Opt. Call | A1 | 392,741 | ||||||||||||||
1,875 | 5.000%, 6/01/16 | No Opt. Call | A1 | 2,012,438 | ||||||||||||||
60 | 5.000%, 6/01/17 | No Opt. Call | Baa1 | 65,627 | ||||||||||||||
39,410 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.125%, 6/01/24 | 6/17 at 100.00 | B– | 33,683,727 | ||||||||||||||
3,240 | Cleveland, Ohio, Airport System Revenue Bonds, Series 2009C, 5.000%, 1/01/21 – AGM Insured | 1/19 at 100.00 | AA– | 3,559,270 | ||||||||||||||
Cleveland, Ohio, General Obligation Bonds, Series 2011: | ||||||||||||||||||
1,700 | 5.000%, 12/01/22 | 12/19 at 100.00 | AA | 1,878,092 | ||||||||||||||
1,780 | 5.000%, 12/01/23 | 12/19 at 100.00 | AA | 1,948,477 | ||||||||||||||
4,740 | Columbus, Ohio, Sewerage System Revenue Bonds, Tender Option Bond Trust 2456, 18.026%, 12/01/15 (IF) | No Opt. Call | AA+ | 7,370,984 | ||||||||||||||
2,905 | Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 5.500%, 8/15/24 | 8/18 at 100.00 | A3 | 3,124,153 | ||||||||||||||
1,095 | Mason City School District, Warren and Butler Counties, Ohio, General Obligation Bonds, Refunding Series 2007, 4.375%, 12/01/19 – AGM Insured | 12/16 at 100.00 | Aa1 | 1,187,079 | ||||||||||||||
Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center Inc., Series 2006: | ||||||||||||||||||
1,970 | 5.250%, 5/15/15 | No Opt. Call | A | 2,107,132 | ||||||||||||||
750 | 5.250%, 5/15/16 | No Opt. Call | A | 829,275 | ||||||||||||||
5,450 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/27 | 2/23 at 100.00 | BB+ | 4,969,201 | ||||||||||||||
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C: | ||||||||||||||||||
775 | 4.000%, 10/01/18 | No Opt. Call | A1 | 851,516 | ||||||||||||||
870 | 4.000%, 10/01/19 | No Opt. Call | A1 | 953,885 | ||||||||||||||
1,150 | 4.000%, 10/01/20 | No Opt. Call | A1 | 1,252,810 | ||||||||||||||
1,205 | 5.000%, 10/01/21 | No Opt. Call | A1 | 1,383,509 | ||||||||||||||
965 | 5.000%, 10/01/22 | No Opt. Call | A1 | 1,112,134 | ||||||||||||||
Ohio Higher Education Facilities Commission, Revenue Bonds, John Carroll University, Series 1997: | ||||||||||||||||||
1,135 | 4.000%, 4/01/14 | No Opt. Call | A3 | 1,149,437 | ||||||||||||||
1,000 | 4.500%, 4/01/15 | No Opt. Call | A3 | 1,044,120 | ||||||||||||||
11,015 | Ohio State, General Obligation Bonds, Common Schools Series 2007A, 5.000%, 6/15/15 | No Opt. Call | AA+ | 11,850,818 | ||||||||||||||
6,960 | Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011B, 4.000%, 9/15/21 | No Opt. Call | AA+ | 7,806,754 | ||||||||||||||
8,160 | Ohio State, General Obligation Bonds, Refunding Higher Education Series 2012C, 5.000%, 8/01/21 | No Opt. Call | AA+ | 9,794,693 | ||||||||||||||
8,000 | Ohio State, General Obligation Highway Capital Improvement Bonds, Series 2012Q, 5.000%, 5/01/21 | No Opt. Call | AAA | 9,610,800 |
Nuveen Investments | 93 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Ohio (continued) | ||||||||||||||||||
$ | 500 | Richland County, Ohio, General Obligation Bonds, Correctional Facilities Improvement Refunding Series 2008, 5.875%, 12/01/24 – AGC Insured | 12/18 at 100.00 | A2 | $ | 561,230 | ||||||||||||
Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006: | ||||||||||||||||||
735 | 5.000%, 11/15/14 | No Opt. Call | A– | 764,981 | ||||||||||||||
805 | 5.000%, 11/15/16 | No Opt. Call | A– | 887,633 | ||||||||||||||
1,250 | Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012, 5.000%, 12/01/22 | No Opt. Call | N/R | 1,234,700 | ||||||||||||||
112,135 | Total Ohio | 115,861,649 | ||||||||||||||||
Oklahoma – 0.6% | ||||||||||||||||||
Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012: | ||||||||||||||||||
2,290 | 4.500%, 9/01/21 | No Opt. Call | A+ | 2,533,152 | ||||||||||||||
1,415 | 4.000%, 9/01/23 | 9/21 at 100.00 | A+ | 1,473,553 | ||||||||||||||
2,495 | Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005, 5.500%, 9/01/23 | 9/16 at 100.00 | BBB- | 2,530,354 | ||||||||||||||
10,000 | Oklahoma Capitol Improvement Authority, State Facilities Revenue Bonds, Series 2005F, 5.000%, 7/01/27 – AMBAC Insured | 7/15 at 100.00 | AA | 10,518,700 | ||||||||||||||
Stillwater Medical Center Authority, Oklahoma, Hospital Revenue Bonds, Series 2005: | ||||||||||||||||||
790 | 5.250%, 5/15/14 | No Opt. Call | BBB+ | 808,589 | ||||||||||||||
1,050 | 5.250%, 5/15/15 | 5/14 at 100.00 | BBB+ | 1,072,628 | ||||||||||||||
3,000 | Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2009A, 5.375%, 6/01/24 | 6/15 at 100.00 | A3 | 3,109,050 | ||||||||||||||
21,040 | Total Oklahoma | 22,046,026 | ||||||||||||||||
Oregon – 0.9% | ||||||||||||||||||
Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Refunding Bonds, Series 2012B: | ||||||||||||||||||
5,900 | 4.000%, 6/15/22 | No Opt. Call | AA+ | 6,595,787 | ||||||||||||||
4,540 | 4.000%, 6/15/23 | No Opt. Call | AA+ | 5,002,263 | ||||||||||||||
4,120 | Clackamas Community College District, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/15/20 – FGIC Insured | No Opt. Call | AA | 4,901,358 | ||||||||||||||
11,110 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2013A, 5.000%, 11/15/38 | 11/23 at 100.00 | AAA | 11,992,356 | ||||||||||||||
4,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A, 5.000%, 11/15/22 | 5/19 at 100.00 | AAA | 4,553,920 | ||||||||||||||
29,670 | Total Oregon | 33,045,684 | ||||||||||||||||
Pennsylvania – 3.7% | ||||||||||||||||||
2,015 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center System, Series 2008B, 5.000%, 6/15/18 | No Opt. Call | Aa3 | 2,337,420 | ||||||||||||||
1,000 | Allegheny County, Pennsylvania, General Obligation Bonds, Series C69-C70 of 2012, 5.000%, 12/01/25 | 12/22 at 100.00 | A+ | 1,108,290 | ||||||||||||||
25,815 | Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 2.500%, 12/01/41 (Mandatory put 6/01/17) | No Opt. Call | BBB- | 25,134,775 | ||||||||||||||
1,315 | Bethel Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2009, 4.125%, 8/01/20 | 8/19 at 100.00 | Aa2 | 1,469,000 | ||||||||||||||
Delaware County Authority, Pennsylvania, Hospital Revenue Bonds, Crozer-Chester Medical Center, Refunding Series 2005: | ||||||||||||||||||
1,275 | 5.000%, 12/15/15 – RAAI Insured | No Opt. Call | BBB– | 1,347,509 | ||||||||||||||
1,405 | 5.000%, 12/15/17 – RAAI Insured | 12/15 at 100.00 | BBB– | 1,462,465 | ||||||||||||||
Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008: | ||||||||||||||||||
535 | 5.250%, 10/01/20 | 10/18 at 100.00 | BBB | 578,126 | ||||||||||||||
565 | 5.375%, 10/01/21 | 10/18 at 100.00 | BBB | 603,697 | ||||||||||||||
Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann University, Series 2010: | ||||||||||||||||||
1,000 | 5.000%, 10/01/21 | 10/20 at 100.00 | BBB | 1,074,560 | ||||||||||||||
1,050 | 5.000%, 10/01/25 | 10/20 at 100.00 | BBB | 1,090,194 | ||||||||||||||
3,140 | Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.750%, 12/15/27 | 12/19 at 100.00 | N/R | 3,149,106 |
94 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Pennsylvania (continued) | ||||||||||||||||||
$ | 1,300 | Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, Series 2007, 5.000%, 1/01/27 | 1/17 at 100.00 | A | $ | 1,322,555 | ||||||||||||
1,000 | Montgomery County Industrial Development Authority, Pennsylvania, First Mortgage Revenue Bonds, Whitemarsh Continuing Care, Series 2005, 6.125%, 2/01/28 | 2/15 at 100.00 | N/R | 999,940 | ||||||||||||||
1,395 | Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 | 10/19 at 100.00 | BBB+ | 1,519,853 | ||||||||||||||
Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B: | ||||||||||||||||||
2,160 | 5.000%, 1/01/21 | 1/19 at 100.00 | Aaa | 2,506,442 | ||||||||||||||
9,575 | 5.000%, 7/01/21 | 1/18 at 100.00 | Aaa | 10,923,543 | ||||||||||||||
7,800 | 5.000%, 1/01/22 | 7/17 at 100.00 | Aaa | 8,831,862 | ||||||||||||||
11,665 | 5.000%, 7/01/22 | 7/16 at 100.00 | Aaa | 12,846,898 | ||||||||||||||
9,795 | Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of Philadelphia, Series 2006B, 4.500%, 6/01/32 – AGM Insured | 12/16 at 100.00 | AA– | 9,625,155 | ||||||||||||||
15,020 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 0.000%, 12/01/38 | 12/27 at 100.00 | A– | 13,216,248 | ||||||||||||||
3,000 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Ninth Series, 2010, 5.000%, 8/01/30 | 8/20 at 100.00 | BBB+ | 3,020,280 | ||||||||||||||
10,000 | Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2005A, 5.000%, 8/01/19 – AMBAC Insured | 8/15 at 100.00 | Aa3 | 10,675,300 | ||||||||||||||
4,270 | Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2010A, 5.000%, 6/01/16 | No Opt. Call | Aa3 | 4,682,055 | ||||||||||||||
11,050 | Sayre Healthcare Facility Authority, Pennsylvania, Revenue Bonds, Guthrie Healthcare System, Series 2007, 0.955%, 12/01/24 | 12/17 at 100.00 | AA– | 9,836,489 | ||||||||||||||
Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013: | ||||||||||||||||||
730 | 5.000%, 12/01/20 | No Opt. Call | BBB– | 791,152 | ||||||||||||||
1,105 | 5.000%, 12/01/21 | No Opt. Call | BBB– | 1,181,753 | ||||||||||||||
1,625 | 5.000%, 12/01/22 | No Opt. Call | BBB– | 1,729,943 | ||||||||||||||
1,705 | 5.000%, 12/01/23 | 6/23 at 100.00 | BBB– | 1,805,766 | ||||||||||||||
1,795 | 5.000%, 12/01/24 | 6/23 at 100.00 | BBB– | 1,881,268 | ||||||||||||||
1,400 | Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013, 5.000%, 12/01/19 | No Opt. Call | BBB- | 1,528,814 | ||||||||||||||
60 | Trinity Area School District, Washington County, Pennsylvania, General Obligation Bonds, Series 2012, 4.000%, 11/01/19 – AGM Insured | No Opt. Call | A1 | 66,787 | ||||||||||||||
Westmoreland County Industrial Development Authority, Pennsylvania, Retirement Community Revenue Bonds, Redstone Presbyterian SeniorCare Obligated Group, Series 2005A: | ||||||||||||||||||
1,100 | 5.375%, 1/01/14 | No Opt. Call | N/R | 1,103,179 | ||||||||||||||
1,200 | 5.500%, 1/01/16 | No Opt. Call | N/R | 1,234,044 | ||||||||||||||
137,865 | Total Pennsylvania | 140,684,468 | ||||||||||||||||
Puerto Rico – 0.7% | ||||||||||||||||||
260 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A, 4.250%, 7/01/25 | No Opt. Call | BBB– | 182,538 | ||||||||||||||
3,000 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2007TT, 5.000%, 7/01/24 – NPFG Insured | 7/17 at 100.00 | A | 2,578,380 | ||||||||||||||
6,255 | Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2003H, 5.250%, 7/01/14 – FGIC Insured | No Opt. Call | BBB– | 6,172,747 | ||||||||||||||
1,015 | Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series 2007M, 5.500%, 7/01/35 (Mandatory put 7/01/17) – AMBAC Insured | 7/17 at 100.00 | BBB– | 928,116 | ||||||||||||||
11,000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 0.000%, 8/01/32 | 8/26 at 100.00 | A+ | 8,118,110 | ||||||||||||||
5,365 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/16 – NPFG Insured | No Opt. Call | A | 5,245,361 | ||||||||||||||
3,790 | Puerto Rico, General Obligation Bonds, Public Improvement Refunding Series 2008A, 5.000%, 7/01/20 | 7/18 at 100.00 | BBB– | 3,061,448 | ||||||||||||||
30,685 | Total Puerto Rico | 26,286,700 | ||||||||||||||||
Rhode Island – 0.1% | ||||||||||||||||||
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A: | ||||||||||||||||||
2,030 | 6.000%, 6/01/23 | 12/13 at 100.00 | Baa1 | 2,029,980 | ||||||||||||||
315 | 6.125%, 6/01/32 | 12/13 at 100.00 | BBB+ | 312,395 | ||||||||||||||
2,345 | Total Rhode Island | 2,342,375 |
Nuveen Investments | 95 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
South Carolina – 1.3% | ||||||||||||||||||
$ | 2,055 | Charleston Educational Excellence Financing Corporation, South Carolina, Installment Purchase Revenue Bonds, Charleston County School District, South Carolina Project, Series 2004, 5.000%, 12/01/13 | No Opt. Call | AA | $ | 2,063,343 | ||||||||||||
12,700 | Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2006, 5.000%, 12/01/24 | 12/16 at 100.00 | AA | 14,014,069 | ||||||||||||||
Newberry Investing in Children’s Education, South Carolina, Installment Purchase Revenue Bonds, Newberry County School District Project, Series 2005: | ||||||||||||||||||
1,500 | 5.250%, 12/01/23 | 12/15 at 100.00 | A2 | 1,597,290 | ||||||||||||||
2,000 | 5.250%, 12/01/24 | 12/15 at 100.00 | A2 | 2,129,720 | ||||||||||||||
South Carolina JOBS Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2012: | ||||||||||||||||||
1,850 | 5.000%, 11/01/20 | No Opt. Call | A– | 2,089,705 | ||||||||||||||
7,500 | 5.000%, 11/01/27 | No Opt. Call | A– | 7,973,775 | ||||||||||||||
6,955 | 5.000%, 11/01/28 | No Opt. Call | A– | 7,317,842 | ||||||||||||||
1,225 | 5.000%, 11/01/29 | No Opt. Call | A– | 1,276,830 | ||||||||||||||
1,000 | South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding & Improvement Series 2009, 5.000%, 8/01/18 | No Opt. Call | BBB+ | 1,107,190 | ||||||||||||||
6,750 | South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2004B, 5.250%, 10/01/16 – AMBAC Insured | No Opt. Call | A1 | 7,645,050 | ||||||||||||||
1,520 | Spartanburg Regional Health Services District, Inc., South Carolina, Hospital Revenue Refunding Bonds, Series 2012A, 5.000%, 4/15/32 | 4/22 at 100.00 | A1 | 1,550,947 | ||||||||||||||
45,055 | Total South Carolina | 48,765,761 | ||||||||||||||||
South Dakota – 0.3% | ||||||||||||||||||
2,385 | Deadwood, South Dakota, Certificates of Participation, Crossover Refunding Series 2005, 5.000%, 11/01/18 – ACA Insured | 11/15 at 100.00 | A | 2,533,204 | ||||||||||||||
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Huron Regional Medical Center, Series 2005: | ||||||||||||||||||
760 | 5.000%, 4/01/17 | 4/14 at 100.00 | A– | 762,554 | ||||||||||||||
800 | 5.000%, 4/01/18 | 4/14 at 100.00 | A– | 802,584 | ||||||||||||||
840 | 5.000%, 4/01/19 | 4/14 at 100.00 | A– | 842,562 | ||||||||||||||
820 | 5.000%, 4/01/20 | 4/14 at 100.00 | A– | 822,362 | ||||||||||||||
1,000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2007, 5.000%, 11/01/19 | 5/17 at 100.00 | A+ | 1,087,540 | ||||||||||||||
1,000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2009, 5.000%, 11/01/24 | 11/19 at 100.00 | A+ | 1,076,330 | ||||||||||||||
1,500 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Vocational Education Program, Series 2008, 5.125%, 8/01/28 – AGC Insured | 8/18 at 100.00 | AA | 1,593,855 | ||||||||||||||
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community Project, Series 2006: | ||||||||||||||||||
300 | 4.550%, 9/01/14 | No Opt. Call | A | 307,245 | ||||||||||||||
1,770 | 5.000%, 9/01/25 | 9/14 at 100.00 | A | 1,776,213 | ||||||||||||||
11,175 | Total South Dakota | 11,604,449 | ||||||||||||||||
Tennessee – 2.1% | ||||||||||||||||||
2,265 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Catholic Health Initiatives, Series 2008D, 6.125%, 10/01/28 | 10/18 at 100.00 | A+ | 2,584,025 | ||||||||||||||
3,460 | Claiborne County, Tennessee, Industrial Development Board, Revenue Refunding Bonds, Lincoln Memorial University Project, Series 2009, 6.125%, 10/01/29 | 10/19 at 100.00 | N/R | 3,648,016 | ||||||||||||||
3,650 | Jackson, Tennessee, Hospital Revenue Refunding Bonds, Jackson-Madison County General Hospital Project, Series 2008, 5.250%, 4/01/23 | 4/18 at 100.00 | A+ | 3,963,280 | ||||||||||||||
Johnson City Health and Educational Facilities Board, Tennessee, Revenue Bonds, Mountain States Health Alliance, Series 2006A: | ||||||||||||||||||
715 | 5.000%, 7/01/15 | No Opt. Call | BBB+ | 755,962 | ||||||||||||||
750 | 5.000%, 7/01/18 | 7/16 at 100.00 | BBB+ | 801,270 | ||||||||||||||
5,000 | Knox County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., | 4/17 at 100.00 | BBB+ | 5,105,450 |
96 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Tennessee (continued) | ||||||||||||||||||
Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Refunding Bonds, Covenant Health, Series 2012A: | ||||||||||||||||||
$ | 1,400 | 4.000%, 1/01/22 | No Opt. Call | A | $ | 1,465,002 | ||||||||||||
3,180 | 5.000%, 1/01/23 | No Opt. Call | A | 3,518,288 | ||||||||||||||
1,300 | 4.000%, 1/01/23 | No Opt. Call | A | 1,342,809 | ||||||||||||||
1,750 | 5.000%, 1/01/24 | No Opt. Call | A | 1,907,640 | ||||||||||||||
Memphis and Shelby County Port Commission, Tennessee, Port Development Revenue Bonds, Series 2011: | ||||||||||||||||||
1,480 | 5.250%, 4/01/23 | 4/21 at 100.00 | AA– | 1,703,140 | ||||||||||||||
1,560 | 5.250%, 4/01/24 | 4/21 at 100.00 | AA– | 1,775,686 | ||||||||||||||
1,240 | 5.250%, 4/01/25 | 4/21 at 100.00 | AA– | 1,395,744 | ||||||||||||||
1,000 | Memphis, Tennessee, General Improvement Bonds, Series 2005, 5.000%, 10/01/16 – NPFG Insured | No Opt. Call | AA | 1,129,190 | ||||||||||||||
10,000 | Memphis, Tennessee, Subordinate Lien Electric System Revenue Bonds, Series 2003A, 5.000%, 12/01/15 (Pre-refunded 12/01/13) – NPFG Insured | 12/13 at 100.00 | AA+ (4) | 10,040,700 | ||||||||||||||
12,155 | Memphis, Tennessee, Subordinate Lien Electric System Revenue Bonds, Series 2003A, 5.000%, 12/01/13 – NPFG Insured | No Opt. Call | AA+ | 12,204,592 | ||||||||||||||
3,175 | Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2007C, 5.000%, 11/01/17 – NPFG Insured | No Opt. Call | AA– | 3,577,590 | ||||||||||||||
4,430 | Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009A, 5.125%, 11/01/24 | 11/19 at 100.00 | AA– | 4,844,870 | ||||||||||||||
Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009B: | ||||||||||||||||||
1,000 | 5.500%, 11/01/20 | 11/19 at 100.00 | AA– | 1,180,720 | ||||||||||||||
1,860 | 5.250%, 11/01/25 | 11/19 at 100.00 | AA– | 2,021,839 | ||||||||||||||
1,400 | Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.000%, 9/01/19 | 9/16 at 100.00 | BBB+ | 1,491,490 | ||||||||||||||
2,000 | Sullivan County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, Wellmont Health System, Series 2003, 5.000%, 9/01/16 – RAAI Insured | 3/14 at 100.00 | BBB+ | 2,006,060 | ||||||||||||||
11,885 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/20 | No Opt. Call | A | 13,323,917 | ||||||||||||||
76,655 | Total Tennessee | 81,787,280 | ||||||||||||||||
Texas – 8.6% | ||||||||||||||||||
1,110 | Alvin Independent School District, Brazoria County, Texas, General Obligation Bonds, Refunding Series 2007, 4.125%, 2/15/19 | 2/16 at 100.00 | AAA | 1,175,823 | ||||||||||||||
5,955 | Bexar County Housing Finance Corporation, Texas, FNMA Guaranteed Multifamily Housing Revenue Bonds, Villas Sonterra Apartments Project, Series 2007A, 4.700%, 10/01/15 (Alternative Minimum Tax) | No Opt. Call | N/R | 6,192,783 | ||||||||||||||
2,125 | Brownsville, Texas, General Obligation Bonds, Refunding Series 2005, 5.000%, 2/15/17 – NPFG Insured | 2/15 at 100.00 | AA– | 2,247,868 | ||||||||||||||
3,000 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Refunding Series 2013A, 5.000%, 1/01/33 | 1/23 at 100.00 | Baa2 | 2,927,550 | ||||||||||||||
3,380 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.250%, 1/01/46 | 1/21 at 100.00 | Baa2 | 3,465,852 | ||||||||||||||
8,000 | Conroe Independent School District, Montgomery County, Texas, General Obligation Bonds, School Building and Refunding Series 2012, 5.000%, 2/15/26 | 2/21 at 100.00 | AAA | 9,326,560 | ||||||||||||||
1,180 | Corinth, Texas, Certificates of Obligation, Series 2007, 4.500%, 2/15/19 – NPFG Insured | 2/17 at 100.00 | Aa2 | 1,285,185 | ||||||||||||||
5,715 | Dallas County Utility and Reclamation District, Texas, General Obligation Bonds, Refunding Series 2005A, 5.150%, 2/15/22 – AMBAC Insured | 2/17 at 100.00 | A3 | 6,249,467 | ||||||||||||||
4,995 | Dallas, Texas, General Obligation Bonds, Refunding & Improvements Series 2007, 4.500%, 2/15/27 | 2/17 at 100.00 | AA+ | 5,156,039 | ||||||||||||||
5 | Dallas, Texas, General Obligation Bonds, Refunding & Improvements Series 2007, 4.500%, 2/15/27 (Pre-refunded 2/15/17) | 2/17 at 100.00 | Aa1 (4) | 5,633 | ||||||||||||||
10,010 | Dallas, Texas, Waterworks and Sewer System Revenue Bonds, Refunding Series 2007, 5.000%, 10/01/15 – AMBAC Insured | No Opt. Call | AAA | 10,906,396 | ||||||||||||||
2,440 | El Paso County, Texas, General Obligation Bonds, Refunding Series 2007, 5.000%, 2/15/18 – NPFG Insured | No Opt. Call | AA | 2,828,424 | ||||||||||||||
650 | El Paso, Texas, Water and Sewer Revenue Bonds, Refunding Series 2006A, 4.000%, 3/01/18 – AGM Insured | 3/15 at 100.00 | AA+ | 675,604 | ||||||||||||||
1,120 | Elgin Independent School District, Bastrop County, Texas, General Obligation Bonds, School Building Series 2007, 4.375%, 8/01/19 | 8/17 at 100.00 | AAA | 1,237,410 | ||||||||||||||
2,000 | Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, School Building Series 2009, 4.550%, 2/15/25 | 8/19 at 100.00 | AA+ | 2,158,780 |
Nuveen Investments | 97 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
$ | 2,045 | Frisco, Collins and Denton Counties, Texas, Certificates of Obligation, Series 2007, 4.500%, 2/15/16 – AMBAC Insured | No Opt. Call | Aa1 | $ | 2,235,594 | ||||||||||||
875 | Giddings Independent School District, Fayette, Lee, and Washington Counties, Texas, General Obligation Bonds, School Building Series 2007A, 4.250%, 2/15/19 | 2/17 at 100.00 | Aaa | 955,465 | ||||||||||||||
7,300 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 4/01/53 | 10/23 at 100.00 | AA+ | 7,249,922 | ||||||||||||||
635 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Series 2007A, 4.500%, 2/15/18 | 2/17 at 100.00 | AAA | 709,219 | ||||||||||||||
Hale Center Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist University Project, Improvement and Refunding Series 2010: | ||||||||||||||||||
875 | 4.000%, 3/01/21 | No Opt. Call | A– | 908,749 | ||||||||||||||
500 | 4.000%, 3/01/22 | 3/21 at 100.00 | A– | 512,780 | ||||||||||||||
800 | 4.000%, 3/01/23 | 3/21 at 100.00 | A– | 812,880 | ||||||||||||||
440 | 4.250%, 3/01/25 | 3/21 at 100.00 | �� | A– | 448,699 | |||||||||||||
1,815 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Refunding Series 2013A, 5.000%, 12/01/23 | No Opt. Call | A+ | 2,041,385 | ||||||||||||||
1,000 | Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2004A, 5.250%, 12/01/13 | No Opt. Call | A+ | 1,004,150 | ||||||||||||||
1,950 | Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Series 2008B, 7.125%, 12/01/31 (Pre-refunded 12/01/18) | 12/18 at 100.00 | A+ (4) | 2,527,376 | ||||||||||||||
6,930 | Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, St. Luke’s Episcopal Hospital, Series 1991A, 6.750%, 2/15/21 (ETM) | 1/14 at 100.00 | AA+ (4) | 8,060,837 | ||||||||||||||
Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Series 2009A: | ||||||||||||||||||
5,120 | 5.000%, 11/01/22 | 11/19 at 100.00 | AA+ | 6,065,254 | ||||||||||||||
5,385 | 5.000%, 11/01/23 | 11/19 at 100.00 | AA+ | 6,338,899 | ||||||||||||||
5,660 | 5.000%, 11/01/24 | 11/19 at 100.00 | AA+ | 6,645,066 | ||||||||||||||
2,320 | Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 1014, 13.683%, 11/01/41 (IF) (8) | 11/21 at 100.00 | AA+ | 2,575,618 | ||||||||||||||
Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010: | ||||||||||||||||||
2,270 | 5.000%, 7/01/19 | No Opt. Call | BBB+ | 2,516,772 | ||||||||||||||
2,380 | 5.000%, 7/01/20 | No Opt. Call | BBB+ | 2,631,518 | ||||||||||||||
2,000 | Houston Health Facilities Development Corporation, Texas, Revenue Bonds, Buckingham Senior Living Community Inc., Series 2004A, 7.000%, 2/15/23 (Pre-refunded 2/15/14) | 2/14 at 101.00 | AA+ (4) | 2,058,640 | ||||||||||||||
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011B: | ||||||||||||||||||
6,355 | 5.250%, 9/01/24 | 9/16 at 100.00 | A2 | 6,967,177 | ||||||||||||||
6,920 | 5.250%, 9/01/25 | 9/16 at 100.00 | A2 | 7,532,489 | ||||||||||||||
4,295 | 5.250%, 9/01/26 | 9/16 at 100.00 | A2 | 4,586,673 | ||||||||||||||
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B: | ||||||||||||||||||
8,000 | 0.000%, 9/01/22 – AMBAC Insured | No Opt. Call | A2 | 5,451,280 | ||||||||||||||
3,810 | 0.000%, 9/01/23 – AMBAC Insured | No Opt. Call | A2 | 2,450,211 | ||||||||||||||
Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2011B: | ||||||||||||||||||
1,900 | 5.000%, 7/01/25 | 7/21 at 100.00 | A+ | 2,111,736 | ||||||||||||||
2,025 | 5.000%, 7/01/26 | 7/21 at 100.00 | A+ | 2,221,931 | ||||||||||||||
Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2012B: | ||||||||||||||||||
18,225 | 5.000%, 7/01/31 | 7/22 at 100.00 | A+ | 18,978,057 | ||||||||||||||
5,000 | 5.000%, 7/01/32 | 7/22 at 100.00 | A+ | 5,148,500 | ||||||||||||||
715 | Howard County Junior College District, Texas, General Obligation Bonds, Series 2007, 4.250%, 2/15/18 – AMBAC Insured | 2/17 at 100.00 | AA– | 783,597 | ||||||||||||||
1,595 | Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2005, 5.000%, 8/15/14 | No Opt. Call | BBB– | 1,632,706 | ||||||||||||||
6,075 | Laredo, Texas, International Toll Bridge Revenue Bonds, Series 2005B, 5.000%, 10/01/18 – AGM Insured | 10/15 at 100.00 | AA– | 6,570,538 | ||||||||||||||
League City, Texas, Waterworks and Sewer System Revenue Bonds, Series 2008: | ||||||||||||||||||
1,245 | 4.000%, 2/15/18 – AGM Insured | 2/17 at 100.00 | AA | 1,361,619 | ||||||||||||||
1,315 | 4.375%, 2/15/23 – AGM Insured | 2/17 at 100.00 | AA | 1,393,150 |
98 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
$ | 2,000 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40 | 11/20 at 100.00 | BBB– | $ | 1,980,060 | ||||||||||||
1,000 | Lubbock Educational Facilities Authority, Texas, Revenue Bonds, Lubbock Christian University, Refunding & Improvement Series 2007, 5.000%, 11/01/16 | No Opt. Call | BBB | 1,097,590 | ||||||||||||||
770 | Mansfield Independent School District, Tarrant County, Texas, General Obligation Bonds, Series 2006, 5.000%, 2/15/22 (Pre-refunded 2/15/16) | 2/16 at 100.00 | AAA | 850,296 | ||||||||||||||
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children’s Medical Center Dallas Project, Series 2012: | ||||||||||||||||||
4,340 | 5.000%, 8/15/24 | 8/22 at 100.00 | AA | 4,841,704 | ||||||||||||||
4,710 | 5.000%, 8/15/25 | 8/22 at 100.00 | AA | 5,190,703 | ||||||||||||||
3,920 | 5.000%, 8/15/26 | 8/22 at 100.00 | AA | 4,261,628 | ||||||||||||||
7,025 | 5.000%, 8/15/27 | 8/22 at 100.00 | AA | 7,546,255 | ||||||||||||||
3,465 | North Harris County Regional Water Authority, Texas, Senior Water Revenue Bonds, Series 2003, 5.250%, 12/15/17 (Pre-refunded 12/15/13) – FGIC Insured | 12/13 at 100.00 | A+ (4) | 3,486,691 | ||||||||||||||
2,500 | North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008A, 6.000%, 1/01/24 | 1/18 at 100.00 | A2 | 2,846,225 | ||||||||||||||
3,050 | North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Variable Rate Demand Series 2008-E3, 5.750%, 1/01/38 (Mandatory put 1/01/16) | No Opt. Call | A2 | 3,348,992 | ||||||||||||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D: | ||||||||||||||||||
8,565 | 5.250%, 9/01/25 | 9/21 at 100.00 | AA+ | 9,800,244 | ||||||||||||||
5,000 | 5.250%, 9/01/26 | 9/21 at 100.00 | AA+ | 5,665,450 | ||||||||||||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A: | ||||||||||||||||||
2,370 | 0.000%, 9/01/43 | 9/31 at 100.00 | AA+ | 1,636,675 | ||||||||||||||
9,130 | 0.000%, 9/01/45 | 9/31 at 100.00 | AA+ | 6,934,418 | ||||||||||||||
1,000 | Northwest Independent School District, Denton County, Texas, General Obligation Bonds, Refunding Series 2006, 4.500%, 2/15/26 | 2/16 at 100.00 | Aaa | 1,049,430 | ||||||||||||||
1,000 | Plano Independent School District, Collin County, Texas, General Obligation Bonds, Series 2008A, 5.000%, 2/15/25 | 2/18 at 100.00 | Aaa | 1,134,900 | ||||||||||||||
875 | San Angelo, Texas, Certificates of Obligation Bonds, Tom Green County Series 2007A, 4.400%, 2/15/19 – NPFG Insured | 2/17 at 100.00 | AA+ | 959,534 | ||||||||||||||
3,400 | San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, New Series 1992, 5.000%, 2/01/17 (ETM) | No Opt. Call | AA+ (4) | 3,631,132 | ||||||||||||||
San Antonio, Texas, General Obligation Bonds, Series 2006: | ||||||||||||||||||
1,000 | 4.125%, 2/01/19 | 2/16 at 100.00 | AAA | 1,066,250 | ||||||||||||||
1,140 | 4.250%, 2/01/20 | 2/16 at 100.00 | AAA | 1,215,525 | ||||||||||||||
575 | San Leanna Education Facilities Corporation, Texas, Higher Education Revenue Bonds, Saint Edward’s University Project, Series 2007, 5.000%, 6/01/19 | 6/17 at 100.00 | BBB+ | 621,564 | ||||||||||||||
870 | Sunnyvale School District, Texas, General Obligation Bonds, School Building Series 2007, 4.400%, 2/15/20 | 2/17 at 100.00 | AAA | 943,184 | ||||||||||||||
1,235 | Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Northwest Senior Housing-Edgemere Project, Series 2006A, 5.750%, 11/15/14 | No Opt. Call | N/R | 1,252,290 | ||||||||||||||
4,825 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Baylor Health Care System, Series 2011A, 5.000%, 11/15/30 | 11/21 at 100.00 | AA– | 5,005,938 | ||||||||||||||
5,010 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources, Series 2007A, 5.000%, 2/15/19 | 2/17 at 100.00 | AA– | 5,544,868 | ||||||||||||||
2,210 | Teague Independent School District, Freestone County, Texas, Unlimited Tax General Obligation Bonds, School Building Series 2008, 5.000%, 2/15/19 | 2/18 at 100.00 | AAA | 2,542,030 | ||||||||||||||
5,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/21 | No Opt. Call | A3 | 5,401,150 | ||||||||||||||
2,000 | Texas State Transportation Commission, Highway Fund Revenue Bonds, First Tier Series 2007, 5.000%, 4/01/17 | No Opt. Call | AAA | 2,293,180 | ||||||||||||||
5,000 | Texas State Transportation Commission, Highway Fund Revenue Bonds, First Tier Tender Option Bond Trust 3216, 18.025%, 10/01/14 (IF) | No Opt. Call | AAA | 6,879,800 | ||||||||||||||
4,645 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2008, Trust 2568, 18.121%, 10/01/15 (IF) | No Opt. Call | AAA | 7,159,617 | ||||||||||||||
1,500 | Texas State, General Obligation Bonds, Water Financial Assistance, Refunding Series 2007A, 5.000%, 8/01/17 | No Opt. Call | AAA | 1,740,630 | ||||||||||||||
Travis County Health Facilities Development Corporation, Texas, Retirement Facility Revenue Bonds, Querencia Barton Creek, Series 2005: | ||||||||||||||||||
1,000 | 5.250%, 11/15/17 | 11/15 at 100.00 | N/R | 1,018,040 | ||||||||||||||
900 | 5.500%, 11/15/25 | 11/15 at 100.00 | N/R | 900,315 |
Nuveen Investments | 99 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances Hospital Regional Healthcare Center, Series 2007: | ||||||||||||||||||
$ | 5,000 | 5.250%, 7/01/26 | 7/17 at 100.00 | Baa1 | $ | 5,121,750 | ||||||||||||
11,300 | 5.250%, 7/01/28 | 7/17 at 100.00 | Baa1 | 11,405,994 | ||||||||||||||
Val Verde County, Texas, Pass-Through Toll Revenue and Limited Tax Bonds, Series 2011: | ||||||||||||||||||
2,675 | 3.500%, 8/15/18 | No Opt. Call | A | 2,830,097 | ||||||||||||||
2,900 | 4.000%, 8/15/19 | No Opt. Call | A | 3,126,461 | ||||||||||||||
3,015 | 4.000%, 8/15/20 | No Opt. Call | A | 3,217,095 | ||||||||||||||
3,135 | 4.000%, 8/15/21 | No Opt. Call | A | 3,310,936 | ||||||||||||||
500 | Victoria Independent School District, Victoria County, Texas, General Obligation Bonds, School Building Series 2007, 5.000%, 2/15/18 | 2/17 at 100.00 | AAA | 569,475 | ||||||||||||||
1,000 | Victoria, Texas, Utility System Revenue Refunding Bonds, Series 2007, 4.400%, 12/01/19 – AMBAC Insured | 12/17 at 100.00 | AA– | 1,097,790 | ||||||||||||||
8,830 | Williamson County, Texas, General Obligation Bonds, Limited Tax Refunding Series 2012, 5.000%, 2/15/26 | 2/22 at 100.00 | AAA | 10,124,213 | ||||||||||||||
308,845 | Total Texas | 329,977,980 | ||||||||||||||||
Utah – 0.6% | ||||||||||||||||||
6,330 | Riverton, Utah, Hospital Revenue Bonds, IHC Health Services, Inc., Series 2009, 5.000%, 8/15/41 | 8/19 at 100.00 | AA+ | 6,424,823 | ||||||||||||||
Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A: | ||||||||||||||||||
3,340 | 5.000%, 9/01/23 | 9/22 at 100.00 | A– | 3,814,915 | ||||||||||||||
2,000 | 5.000%, 9/01/25 | 9/22 at 100.00 | A– | 2,228,300 | ||||||||||||||
2,265 | 5.000%, 9/01/26 | 9/22 at 100.00 | A– | 2,491,002 | ||||||||||||||
Utah, General Obligation Bonds, Series 2009, Trust 2987: | ||||||||||||||||||
1,250 | 17.662%, 7/01/21 (IF) (Pre-refunded 7/01/18) | 7/18 at 100.00 | AAA | 2,163,500 | ||||||||||||||
2,500 | 17.662%, 7/01/22 (IF) (Pre-refunded 7/01/18) | 7/18 at 100.00 | AAA | 4,327,000 | ||||||||||||||
17,685 | Total Utah | 21,449,540 | ||||||||||||||||
Virgin Islands – 0.2% | ||||||||||||||||||
1,580 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29 | 10/20 at 100.00 | BBB | 1,562,857 | ||||||||||||||
6,000 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B, 5.000%, 10/01/25 | 10/19 at 100.00 | BBB | 6,382,020 | ||||||||||||||
7,580 | Total Virgin Islands | 7,944,877 | ||||||||||||||||
Virginia – 0.0% | ||||||||||||||||||
1,260 | Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012, 5.500%, 1/01/42 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB– | 1,260,756 | ||||||||||||||
Washington – 2.0% | ||||||||||||||||||
5,690 | Central Valley School District 356 Spokane County, Washington, Unlimited Tax Deferred Interest General Obligation Bonds, Series 1998B, 0.000%, 12/01/14 – FGIC Insured | No Opt. Call | Aa2 | 5,666,614 | ||||||||||||||
4,930 | Clark County Public Utility District 1, Washington, Electric System Revenue Bonds, Series 2007, 5.000%, 1/01/19 – FGIC Insured | 1/17 at 100.00 | A | 5,466,433 | ||||||||||||||
1,515 | Clark County School District 37, Vancouver, Washington, General Obligation Bonds, Series 1998, 5.250%, 12/01/14 – AGM Insured | No Opt. Call | Aa2 | 1,597,265 | ||||||||||||||
2,735 | Douglas County Public Utility District 1, Washington, Revenue Bonds, Wells Hydroelectric, Series 1963, 4.000%, 9/01/18 (ETM) | No Opt. Call | AA (4) | 2,946,197 | ||||||||||||||
525 | King County School District 401, Highline, Washington, General Obligation Bonds, Series 2006, 5.250%, 12/01/25 (Pre-refunded 12/01/16) – AGM Insured | 12/16 at 100.00 | AA+ (4) | 600,968 | ||||||||||||||
265 | King County School District 412 Shoreline, Washington, General Obligation Bonds, Series 2008, 5.750%, 12/01/21 | 12/18 at 100.00 | AA+ | 315,769 | ||||||||||||||
5,055 | King County, Washington, General Obligation Bonds, Harborview Medical Center, Series 2004, 5.000%, 12/01/14 – AMBAC Insured | 6/14 at 100.00 | AAA | 5,197,905 | ||||||||||||||
1,175 | Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Series 2005, 5.375%, 12/01/22 | 12/15 at 100.00 | Baa2 | 1,217,441 | ||||||||||||||
1,000 | Spokane County School District 81, Spokane, Washington, General Obligation Bonds, Series 2005, 5.000%, 6/01/16 (Pre-refunded 6/01/15) – NPFG Insured | 6/15 at 100.00 | Aa1 (4) | 1,074,790 | ||||||||||||||
8,900 | Tacoma, Washington, Electric System Revenue Bonds, Series 2004A, 5.250%, 1/01/16 (Pre-refunded 7/01/14) – FGIC Insured | 7/14 at 100.00 | AA (4) | 9,202,600 |
100 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Washington (continued) | ||||||||||||||||||
$ | 6,000 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.375%, 1/01/31 | 1/21 at 100.00 | A | $ | 6,131,880 | ||||||||||||
Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009: | ||||||||||||||||||
3,125 | 6.250%, 7/01/24 | 7/19 at 100.00 | Baa3 | 3,398,094 | ||||||||||||||
2,000 | 6.750%, 7/01/29 | 7/19 at 100.00 | Baa3 | 2,167,100 | ||||||||||||||
3,250 | Washington State Higher Education Facilities Authority, Revenue Bonds, Whitworth University, Series 2009, 5.125%, 10/01/24 | 10/19 at 100.00 | Baa1 | 3,466,385 | ||||||||||||||
3,005 | Washington State, General Obligation Bonds, Various Purpose Refunding Series 2005A, 5.000%, 1/01/25 – AMBAC Insured | 1/15 at 100.00 | AA+ | 3,143,861 | ||||||||||||||
3,005 | Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008, Trust 2599, 17.928%, 1/01/16 (IF) | No Opt. Call | AA+ | 4,593,143 | ||||||||||||||
12,000 | Washington, General Obligation Bonds, Series 1992B and Series 1992AT-7, 6.400%, 6/01/17 – NPFG Insured | No Opt. Call | AA+ | 13,374,720 | ||||||||||||||
3,010 | Washington, General Obligation Bonds, Series 2000S-5, 0.000%, 1/01/16 – FGIC Insured | No Opt. Call | AA+ | 2,965,422 | ||||||||||||||
2,275 | Washington, Various Purpose General Obligation Bonds, Series 1998C, 5.500%, 7/01/14 | No Opt. Call | AA+ | 2,356,468 | ||||||||||||||
69,460 | Total Washington | 74,883,055 | ||||||||||||||||
Wisconsin – 2.7% | ||||||||||||||||||
2,000 | Franklin, Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management of Wisconsin, Inc. Project, Series 2006A, 4.950%, 11/01/16 (Mandatory put 5/01/16) (Alternative Minimum Tax) | No Opt. Call | BBB | 2,152,820 | ||||||||||||||
University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Refunding Series 2013A: | ||||||||||||||||||
335 | 5.000%, 4/01/20 | No Opt. Call | Aa3 | 384,416 | ||||||||||||||
795 | 5.000%, 4/01/21 | No Opt. Call | Aa3 | 901,705 | ||||||||||||||
460 | 5.000%, 4/01/22 | No Opt. Call | Aa3 | 521,028 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A: | ||||||||||||||||||
1,020 | 5.000%, 7/15/25 | 7/21 at 100.00 | A | 1,077,599 | ||||||||||||||
13,945 | 5.000%, 7/15/27 – AGM Insured | 7/21 at 100.00 | A2 | 14,361,119 | ||||||||||||||
2,060 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2010A, 6.000%, 6/01/30 | 6/20 at 100.00 | Baa2 | 2,199,235 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Childrens Hospital of Wisconsin Inc., Series 2008B: | ||||||||||||||||||
1,400 | 4.350%, 8/15/19 | No Opt. Call | AA– | 1,574,454 | ||||||||||||||
8,670 | 5.500%, 8/15/29 | 2/20 at 100.00 | AA– | 9,222,626 | ||||||||||||||
2,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Divine Savior Healthcare, Series 2006, 5.000%, 5/01/23 | 5/16 at 100.00 | BBB | 2,043,560 | ||||||||||||||
2,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, EastCastle Place Inc., Series, 5.750%, 12/01/19 | 12/13 at 100.00 | N/R | 1,552,620 | ||||||||||||||
1,250 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Fort Healthcare Inc., Series 2004, 5.375%, 5/01/18 | 5/14 at 100.00 | BBB+ | 1,274,075 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of Christian Charity HealthCare Ministry, Series 2007: | ||||||||||||||||||
2,275 | 5.000%, 9/01/20 | 9/17 at 100.00 | BBB+ | 2,409,566 | ||||||||||||||
2,505 | 5.000%, 9/01/22 | 9/17 at 100.00 | BBB+ | 2,600,140 | ||||||||||||||
4,245 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2010A, 5.000%, 6/01/19 | No Opt. Call | A2 | 4,464,297 | ||||||||||||||
5,325 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc., Series 1992A, 6.000%, 12/01/22 – FGIC Insured | No Opt. Call | A2 | 5,998,293 | ||||||||||||||
1,500 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Southwest Health Center Inc., Series 2004A, 6.125%, 4/01/24 (Pre-refunded 4/01/14) | 4/14 at 100.00 | N/R (4) | 1,537,185 | ||||||||||||||
1,450 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, The Medical College of Wisconsin, Inc., Series 2004A, 5.000%, 12/01/15 – NPFG Insured | 12/14 at 100.00 | A+ | 1,511,524 | ||||||||||||||
340 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Vernon Memorial Healthcare Inc., Series 2005, 4.650%, 3/01/15 | No Opt. Call | BBB | 356,262 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Healthcare System, Series 2006A: | ||||||||||||||||||
2,455 | 5.250%, 8/15/19 | 8/16 at 100.00 | A– | 2,637,627 | ||||||||||||||
11,955 | 5.250%, 8/15/20 | 8/16 at 100.00 | A– | 12,844,332 |
Nuveen Investments | 101 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Intermediate Duration Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||||
Wisconsin (continued) | ||||||||||||||||||||
$ | 10,050 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2006B, 5.125%, 8/15/21 | 8/16 at 100.00 | A– | $ | 10,554,309 | ||||||||||||||
775 | Wisconsin Housing and Economic Development Authority, Insured Mortgage Revenue Refunding Bonds, Series 1977A, 5.800%, 6/01/17 (ETM) | No Opt. Call | N/R (4) | 841,782 | ||||||||||||||||
9,000 | Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 6.000%, 5/01/27 | 5/19 at 100.00 | AA– | 10,469,070 | ||||||||||||||||
10,170 | Wisconsin State, General Obligation Bonds, Series 2005I, 5.000%, 5/01/16 – NPFG Insured | 5/15 at 100.00 | AA | 10,852,305 | ||||||||||||||||
97,980 | Total Wisconsin | 104,341,949 | ||||||||||||||||||
Wyoming – 0.1% | ||||||||||||||||||||
5,000 | Sweetwater County, Wyoming, Hospital Revenue Refunding Bonds, Memorial Hospital Project, Series 2013A, 5.000%, 9/01/30 | 9/23 at 100.00 | BBB | 4,902,100 | ||||||||||||||||
$ | 3,569,884 | Total Municipal Bonds (cost $3,646,179,376) | 3,750,445,159 | |||||||||||||||||
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (3) | Value | |||||||||||||||
CORPORATE BONDS – 0.0% | ||||||||||||||||||||
Transportation – 0.0% | ||||||||||||||||||||
$ | 199 | Las Vegas Monorail Company, Senior Interest Bonds (9), (10) | 5.500 | % | 7/15/19 | N/R | $ | 35,897 | ||||||||||||
57 | Las Vegas Monorail Company, Senior Interest Bonds (9), (10) | 3.000 | % | 7/15/55 | N/R | 7,595 | ||||||||||||||
$ | 256 | Total Corporate Bonds (cost $10,143) | 43,492 | |||||||||||||||||
Total Long-Term Investments (cost $3,646,189,519) | 3,750,488,651 | |||||||||||||||||||
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS – 0.3% | ||||||||||||||||||||
MUNICIPAL BONDS – 0.3% | ||||||||||||||||||||
Georgia – 0.1% | ||||||||||||||||||||
$ | 5,000 | Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 2253, 0.130%, 4/01/15 – AGM Insured (11) | No Opt. Call | | VMIG-1 | | $ | 5,000,000 | ||||||||||||
Kentucky – 0.2% | ||||||||||||||||||||
5,990 | Kentucky State Property and Buildings Commission, Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 11767, 0.330%, 2/01/17 (11) | No Opt. Call | A-1 | 5,990,000 | ||||||||||||||||
$ | 10,990 | Total Short-Term Investments (cost $10,990,000) | 10,990,000 | |||||||||||||||||
|
| |||||||||||||||||||
Total Investments (cost $3,657,179,519) – 98.4% | 3,761,478,651 | |||||||||||||||||||
Other Assets Less Liabilities – 1.6% | 61,300,631 | |||||||||||||||||||
Net Assets – 100% | $ | 3,822,779,282 |
102 | Nuveen Investments |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
(3) | Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | During July 2010, the original issue for this security (1,000,000 par, 5.400% coupon and May, 15, 2014 maturity) was restructured into two new securities. The first security, which is 30% of the original issue, has 300,000 par, 0.000% coupon and May 15, 2050 maturity. The second security, which is the remaining 70% of the issue, has a 700,000 par, 5.400% coupon and May 15, 2017 maturity. During September 2011, the Adviser concluded this issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(6) | During July 2010, the original issue for this security (1,000,000 par, 5.500% coupon and May, 15, 2015 maturity) was restructured into two new securities. The first security, which is 30% of the original issue, has 300,000 par, 0.000% coupon and May 15, 2050 maturity. The second security, which is the remaining 70% of the issue, has a 700,000 par, 5.500% coupon and May 15, 2018 maturity. During September 2011, the Adviser concluded this issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(7) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(8) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
(9) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information. |
(10) | During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an interest rate of 5.500% maturing on July 15, 2019 and the second with an interest rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The custodian is not accruing income on the Fund’s records for either senior interest corporate bond. |
(11) | Investment has a maturity of more than one year, but has variable rate and demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. |
WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
(ETM) | Escrowed to maturity. |
(IF) | Inverse floating rate investment. |
See accompanying notes to financial statements.
Nuveen Investments | 103 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
LONG-TERM INVESTMENTS – 96.4% | ||||||||||||||||
MUNICIPAL BONDS – 96.4% | ||||||||||||||||
National – 0.1% | ||||||||||||||||
$ | 2,014 | BB&T Various States Municipal Trust Pool, Class B Certificates, Series 2011, 0.340%, 9/01/14 | No Opt. Call | AA– | $ | 2,012,571 | ||||||||||
Alabama – 0.3% | ||||||||||||||||
Health Care Authority for Baptist Health, Alabama, Revenue Bonds, Baptist Health, Series 2006D: | ||||||||||||||||
1,000 | 5.000%, 11/15/13 | No Opt. Call | A3 | 1,001,680 | ||||||||||||
1,000 | 5.000%, 11/15/14 | No Opt. Call | A3 | 1,035,600 | ||||||||||||
1,075 | Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds, Series 2004A, 5.250%, 1/01/15 | 1/14 at 100.00 | B | 1,072,700 | ||||||||||||
5,000 | Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A, 1.650%, 6/01/34 (Mandatory put 3/20/17) | No Opt. Call | A+ | 5,020,650 | ||||||||||||
570 | Pell City, Alabama, Special Care Facilities Financing Authority, Revenue Bonds, Noland Health Services, Series 2007A, 5.000%, 12/01/13 (ETM) | No Opt. Call | Aaa | 572,297 | ||||||||||||
3,370 | The Special Care Facilities Financing Authority of the City of Birmingham, Alabama, Medical Center East Health Care Facility Revenue Bonds, Series 1986 Refunding, 7.250%, 7/01/15 – NPFG Insured (ETM) | No Opt. Call | A (4) | 3,625,547 | ||||||||||||
12,015 | Total Alabama | 12,328,474 | ||||||||||||||
Alaska – 0.3% | ||||||||||||||||
Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011: | ||||||||||||||||
2,680 | 5.000%, 4/01/18 | No Opt. Call | A1 | 3,063,428 | ||||||||||||
1,360 | 5.000%, 4/01/19 | No Opt. Call | A1 | 1,564,721 | ||||||||||||
6,860 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 4.625%, 6/01/23 | 6/14 at 100.00 | Ba1 | 6,470,901 | ||||||||||||
10,900 | Total Alaska | 11,099,050 | ||||||||||||||
Arizona – 3.8% | ||||||||||||||||
1,020 | Arizona Board of Regents, Arizona State University System Revenue Bonds, Refunding Bonds, Series 2013A, 4.000%, 7/01/16 | No Opt. Call | AA | 1,112,738 | ||||||||||||
295 | Arizona Board of Regents, University of Arizona, System Revenue Refunding Bonds, Series 1992A, 6.200%, 6/01/16 | No Opt. Call | AA | 314,408 | ||||||||||||
Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s Hospital, Refunding Series 2012A: | ||||||||||||||||
550 | 2.000%, 2/01/15 | No Opt. Call | BBB+ | 557,761 | ||||||||||||
1,000 | 3.000%, 2/01/16 | No Opt. Call | BBB+ | 1,039,370 | ||||||||||||
950 | 4.000%, 2/01/17 | No Opt. Call | BBB+ | 1,017,374 | ||||||||||||
2,000 | 5.000%, 2/01/18 | No Opt. Call | BBB+ | 2,244,420 | ||||||||||||
2,955 | Arizona School Facilities Board, Certificates of Participation, Series 2008, 5.500%, 9/01/16 | No Opt. Call | A+ | 3,340,273 | ||||||||||||
895 | Arizona State University, System Revenue Bonds, Series 2005, 5.000%, 7/01/27 – AMBAC Insured | 7/15 at 100.00 | Aa3 | 940,511 | ||||||||||||
Arizona State, Certificates of Participation, Department of Administration Series 2010B: | ||||||||||||||||
11,950 | 5.000%, 10/01/16 – AGC Insured | No Opt. Call | AA– | 13,299,514 | ||||||||||||
760 | 5.000%, 10/01/17 – AGM Insured | No Opt. Call | AA– | 859,644 | ||||||||||||
7,760 | Arizona State, Certificates of Participation, Series 2008A, 5.000%, 9/01/21 – AGM Insured | 3/18 at 100.00 | AA– | 8,426,429 | ||||||||||||
Arizona State, Certificates of Participation, Series 2010A: | ||||||||||||||||
4,700 | 5.000%, 10/01/16 – AGM Insured | No Opt. Call | AA– | 5,230,771 | ||||||||||||
11,935 | 5.000%, 10/01/17 – AGM Insured | No Opt. Call | AA– | 13,499,798 | ||||||||||||
2,960 | 5.000%, 10/01/19 – AGM Insured | No Opt. Call | AA– | 3,419,155 | ||||||||||||
Arizona State, State Lottery Revenue Bonds, Series 2010A: | ||||||||||||||||
4,495 | 5.000%, 7/01/15 – AGM Insured | No Opt. Call | AA | 4,833,429 | ||||||||||||
1,905 | 5.000%, 7/01/16 – AGM Insured | No Opt. Call | AA | 2,115,941 | ||||||||||||
2,395 | 5.000%, 7/01/17 – AGM Insured | No Opt. Call | AA | 2,733,030 |
104 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Arizona (continued) | ||||||||||||||||
$ | 5,110 | 5.000%, 7/01/18 – AGM Insured | No Opt. Call | AA | $ | 5,943,339 | ||||||||||
95 | 5.000%, 7/01/20 – AGM Insured | No Opt. Call | AA | 111,088 | ||||||||||||
2,205 | Greater Arizona Development Authority, Infrastructure Revenue Bonds, Series 2006A, 5.000%, 8/01/19 – NPFG Insured | 8/16 at 100.00 | A1 | 2,436,944 | ||||||||||||
3,000 | Maricopa County, Arizona, Hospital Revenue Bonds, Sun Health Corporation, Series 2005, 5.000%, 4/01/15 (ETM) | No Opt. Call | N/R (4) | 3,198,300 | ||||||||||||
3,550 | Mesa, Arizona, Excise Tax Revenue Bonds, Series 2013, 5.000%, 7/01/27 | 7/17 at 100.00 | AA+ | 3,860,980 | ||||||||||||
Mesa, Arizona, General Obligation Bonds, Refunding Series 2012: | ||||||||||||||||
1,855 | 3.000%, 7/01/17 – SYNCORA GTY Insured | No Opt. Call | AA | 1,994,533 | ||||||||||||
1,425 | 4.000%, 7/01/20 | No Opt. Call | AA | 1,598,736 | ||||||||||||
2,225 | 4.000%, 7/01/21 | No Opt. Call | AA | 2,481,231 | ||||||||||||
2,055 | 4.000%, 7/01/22 | No Opt. Call | AA | 2,278,666 | ||||||||||||
Mesa, Arizona, Street and Highway User Revenue Refunding Bonds, Series 2012: | ||||||||||||||||
2,020 | 5.000%, 7/01/16 | No Opt. Call | AA | 2,246,220 | ||||||||||||
2,040 | 5.000%, 7/01/21 | No Opt. Call | AA | 2,361,443 | ||||||||||||
4,015 | 5.000%, 7/01/22 | No Opt. Call | AA | 4,637,084 | ||||||||||||
Mesa, Arizona, Utility System Revenue Bonds, Refunding Series 2012: | ||||||||||||||||
5,370 | 5.000%, 7/01/20 | No Opt. Call | Aa2 | 6,345,031 | ||||||||||||
6,115 | 5.000%, 7/01/21 | No Opt. Call | Aa2 | 7,215,333 | ||||||||||||
3,070 | Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Bonds, Refunding Series 2011, 4.000%, 7/01/15 | No Opt. Call | AAA | 3,260,033 | ||||||||||||
19,685 | Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Series 2009B, 4.000%, 1/01/18 | No Opt. Call | Aa1 | 22,252,515 | ||||||||||||
755 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/16 | No Opt. Call | A– | 826,227 | ||||||||||||
300 | Surprise Municipal Property Corporation, Arizona, Wastewater System Revenue Bonds, Series 2007, 4.500%, 4/01/17 | 4/14 at 100.00 | A– | 302,583 | ||||||||||||
650 | Vistancia Community Facilities District, Peoria, Arizona, General Obligation Bonds, Series 2005, 5.000%, 7/15/14 | No Opt. Call | A1 | 663,533 | ||||||||||||
1,925 | Yuma County Industrial Development Authority, Arizona, Exempt Revenue Bonds, Far West Water & Sewer Inc. Refunding, Series 2007A, 6.500%, 12/01/17 (Alternative Minimum Tax) | No Opt. Call | N/R | 1,735,330 | ||||||||||||
125,990 | Total Arizona | 140,733,715 | ||||||||||||||
Arkansas – 0.1% | ||||||||||||||||
3,000 | Jefferson County, Arkansas, Pollution Control Revenue Refunding Bonds, Entergy Arkansas, Inc. Project, Series 2013, 1.550%, 10/01/17 | No Opt. Call | A– | 3,030,390 | ||||||||||||
California – 5.0% | ||||||||||||||||
Alameda Corridor Transportation Authority, California, Senior Lien Revenue Refunding Bonds, Series 2013A: | ||||||||||||||||
1,105 | 5.000%, 10/01/19 | No Opt. Call | A | 1,301,414 | ||||||||||||
1,755 | 5.000%, 10/01/20 | No Opt. Call | A | 2,062,494 | ||||||||||||
2,300 | 5.000%, 10/01/21 | No Opt. Call | A | 2,690,379 | ||||||||||||
California Department of Water Resources, Power Supply Revenue Bonds, Series 2010L: | ||||||||||||||||
3,620 | 5.000%, 5/01/16 | No Opt. Call | AA | 4,036,083 | ||||||||||||
3,410 | 5.000%, 5/01/17 | No Opt. Call | AA | 3,931,116 | ||||||||||||
3,825 | California Department of Water Resources, Power Supply Revenue Bonds, Series 2010M, 4.000%, 5/01/16 | No Opt. Call | AA | 4,171,545 | ||||||||||||
3,015 | California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2009F, 5.000%, 7/01/27 (Mandatory put 7/01/14) | No Opt. Call | A | 3,104,847 | ||||||||||||
1,000 | California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center, Series 2005, 5.000%, 11/15/13 | No Opt. Call | AAA | 1,001,880 | ||||||||||||
1,875 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Series 2008A, 1.450%, 8/15/33 (Mandatory put 3/15/17) | No Opt. Call | AA | 1,906,238 | ||||||||||||
2,400 | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Series 2012C, 1.450%, 8/15/23 (Mandatory put 3/15/17) | No Opt. Call | AA | 2,439,984 | ||||||||||||
4,000 | California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013C, 5.000%, 7/01/43 (Mandatory put 10/15/19) | No Opt. Call | AA– | 4,654,160 | ||||||||||||
5,450 | California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013D, 5.000%, 7/01/43 (Mandatory put 10/15/20) | No Opt. Call | AA– | 6,303,579 |
Nuveen Investments | 105 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
California (continued) | ||||||||||||||||
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I: | ||||||||||||||||
$ | 4,440 | 5.000%, 11/01/16 | No Opt. Call | A2 | $ | 5,014,758 | ||||||||||
3,675 | 5.000%, 11/01/17 | No Opt. Call | A2 | 4,266,455 | ||||||||||||
California State, Economic Recovery Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
1,660 | 5.000%, 7/01/16 | No Opt. Call | Aa2 | 1,861,624 | ||||||||||||
320 | 5.250%, 7/01/21 | 7/19 at 100.00 | Aa2 | 381,942 | ||||||||||||
4,185 | California State, Economic Recovery Revenue Bonds, Refunding Series 2009B, | No Opt. Call | AA | 4,318,334 | ||||||||||||
5,000 | California State, General Obligation Bonds, Various Purpose Series 2009, 5.000%, 10/01/16 | No Opt. Call | A1 | 5,653,000 | ||||||||||||
California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2009A: | ||||||||||||||||
5,000 | 5.000%, 4/01/14 | No Opt. Call | A+ | 5,100,950 | ||||||||||||
5,015 | 5.000%, 4/01/16 | No Opt. Call | A+ | 5,568,606 | ||||||||||||
1,955 | California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2009E-1, 5.000%, 4/01/44 (Mandatory put 5/01/17) | No Opt. Call | A+ | 2,226,862 | ||||||||||||
1,110 | California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2002C, 5.000%, 11/01/29 (Mandatory put 5/01/17) | No Opt. Call | A+ | 1,264,357 | ||||||||||||
Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 2012: | ||||||||||||||||
1,355 | 4.000%, 1/01/18 | No Opt. Call | BBB– | 1,440,717 | ||||||||||||
1,410 | 5.000%, 1/01/19 | No Opt. Call | BBB– | 1,551,423 | ||||||||||||
1,500 | 5.000%, 1/01/20 | No Opt. Call | BBB– | 1,632,870 | ||||||||||||
1,595 | 5.000%, 1/01/21 | No Opt. Call | BBB– | 1,725,965 | ||||||||||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: | ||||||||||||||||
3,170 | 5.000%, 6/01/15 | No Opt. Call | A1 | 3,319,973 | ||||||||||||
2,665 | 5.000%, 6/01/16 | No Opt. Call | A2 | 2,860,345 | ||||||||||||
24,580 | 4.500%, 6/01/27 | 6/17 at 100.00 | B | 21,022,782 | ||||||||||||
650 | 5.000%, 6/01/33 | 6/17 at 100.00 | B | 501,053 | ||||||||||||
11,350 | Inland Valley Development Agency, California, Tax Allocation Bonds, Series 2011C, 4.500%, 3/01/41 (Mandatory put 3/01/16) | No Opt. Call | A | 11,960,176 | ||||||||||||
1,835 | Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales Tax Revenue Bonds, Senior Lien Series 2010B, 5.000%, 6/01/20 | No Opt. Call | AAA | 2,222,387 | ||||||||||||
4,560 | Los Angeles County Sanitation Districts Financing Authority, California, Revenue Bonds, Capital Projects Revenue Bonds, Series 2013A, 5.000%, 10/01/16 | No Opt. Call | AA+ | 5,157,634 | ||||||||||||
830 | Los Angeles Harbors Department, California, Revenue Bonds, Series 1988, 7.600%, 10/01/18 (ETM) | No Opt. Call | AA+ (4) | 985,376 | ||||||||||||
Moulton Niguel Water District, California, Certificates of Participation, Refunding Series 2003: | ||||||||||||||||
1,850 | 5.000%, 9/01/19 – AMBAC Insured | 9/16 at 100.00 | AAA | 2,006,159 | ||||||||||||
2,255 | 5.000%, 9/01/20 – AMBAC Insured | 9/16 at 100.00 | AAA | 2,421,419 | ||||||||||||
6,160 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Bond Anticipation Notes Series 2010, 0.000%, 5/01/15 | No Opt. Call | AA | 6,123,410 | ||||||||||||
6,250 | Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21 | 11/20 at 100.00 | Baa3 | 6,475,688 | ||||||||||||
165 | San Bernardino, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Refunding Bonds, Series 1990A, 7.500%, 5/01/23 (ETM) | No Opt. Call | Aaa | 211,690 | ||||||||||||
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006: | ||||||||||||||||
1,420 | 5.000%, 9/01/14 | No Opt. Call | Baa2 | 1,460,953 | ||||||||||||
1,500 | 5.000%, 9/01/15 | No Opt. Call | Baa2 | 1,588,515 | ||||||||||||
2,200 | San Francisco Public Utilities Commission, California, Wastewater Revenue Bonds, Refunding Series 2013A, 4.000%, 10/01/15 | No Opt. Call | AA– | 2,358,070 | ||||||||||||
750 | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll Road Revenue Bonds, Series 1993, 0.000%, 1/01/14 (ETM) | No Opt. Call | Aaa | 749,798 | ||||||||||||
5,000 | San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2004A, 4.250%, 8/01/15 – NPFG Insured | 8/14 at 100.00 | A | 5,115,900 | ||||||||||||
1,995 | Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A, 6.250%, 7/01/15 – NPFG Insured | No Opt. Call | A | 2,141,593 | ||||||||||||
Sierra View Local Health Care District, California, Revenue Bonds, Refunding Series 2010: | ||||||||||||||||
500 | 3.500%, 7/01/16 | No Opt. Call | A | 519,640 | ||||||||||||
500 | 3.800%, 7/01/17 | No Opt. Call | A | 527,040 |
106 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
California (continued) | ||||||||||||||||
$ | 20,000 | University of California, General Revenue Bonds, Series 2013AK, 5.000%, 5/15/48 (Mandatory put 5/15/23) | No Opt. Call | Aa1 | $ | 23,641,600 | ||||||||||
172,160 | Total California | 182,982,783 | ||||||||||||||
Colorado – 1.8% | ||||||||||||||||
2,750 | Broomfield, Colorado, Sewer Activity Enterprise, Sewer and Wastewater Reclamation Revenue Bonds, Refunding Series 2012, 4.000%, 12/01/20 | No Opt. Call | A2 | 3,011,800 | ||||||||||||
Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2006: | ||||||||||||||||
1,000 | 5.000%, 6/01/14 | No Opt. Call | A– | 1,025,920 | ||||||||||||
2,320 | 5.250%, 6/01/17 | 6/16 at 100.00 | A– | 2,506,157 | ||||||||||||
1,120 | Colorado State Board of Community Colleges and Occupational Education, Systemwide Revenue Bonds, Series 2010C, 4.000%, 11/01/14 | No Opt. Call | Aa3 | 1,158,158 | ||||||||||||
Colorado Water Resources and Power Development Authority, Clean Water Revolving Fund Revenue Bonds, Series 2004A: | ||||||||||||||||
80 | 5.000%, 9/01/23 (Pre-refunded 9/01/14) | 9/14 at 100.00 | Aaa | 83,229 | ||||||||||||
3,840 | 5.000%, 9/01/23 (Pre-refunded 9/01/14) | 9/14 at 100.00 | AAA | 3,994,982 | ||||||||||||
6,560 | Denver City and County, Colorado, Airport System Revenue Bonds, Refunding Series 2006A, 5.000%, 11/15/21 (WI/DD, Settling 11/01/13) – FGIC Insured | 11/16 at 100.00 | A+ | 7,240,994 | ||||||||||||
4,205 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2005A, 5.000%, 11/15/21 (WI/DD, Settling 11/01/13) – SYNCORA GTY Insured | 11/15 at 100.00 | A+ | 4,525,337 | ||||||||||||
1,500 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/19 | No Opt. Call | A | 1,738,605 | ||||||||||||
Denver School District 1, Colorado, General Obligation Bonds, Series 2012B: | ||||||||||||||||
4,515 | 4.000%, 12/01/19 | No Opt. Call | AA+ | 5,143,443 | ||||||||||||
7,120 | 4.000%, 12/01/20 | No Opt. Call | AA+ | 8,069,737 | ||||||||||||
Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, Stapleton Senior Refunding Series 2013A-1: | ||||||||||||||||
3,290 | 5.000%, 12/01/14 | No Opt. Call | A– | 3,454,237 | ||||||||||||
2,295 | 5.000%, 12/01/15 | No Opt. Call | A– | 2,502,698 | ||||||||||||
4,500 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004C, 5.000%, 9/01/17 – NPFG Insured | No Opt. Call | A | 4,894,020 | ||||||||||||
2,665 | Eagle, Garfield and Routt Counties School District RE50J, Colorado, General Obligation Bonds, Series 2005, 5.000%, 12/01/15 – AGM Insured | No Opt. Call | Aa2 | 2,918,868 | ||||||||||||
955 | Kit Carson County Health Service District, Colorado, Health Care Facility Revenue Bonds, Series 2007, 6.100%, 1/01/17 | No Opt. Call | N/R | 972,582 | ||||||||||||
10,000 | Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001C, 5.800%, 6/15/25 (Pre-refunded 6/15/16) – AGM Insured | 6/16 at 100.00 | AA– (4) | 11,382,300 | ||||||||||||
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013: | ||||||||||||||||
1,200 | 4.000%, 12/01/15 | No Opt. Call | N/R | 1,226,964 | ||||||||||||
1,000 | 5.000%, 12/01/17 | No Opt. Call | N/R | 1,058,280 | ||||||||||||
1,000 | 5.000%, 12/01/18 | No Opt. Call | N/R | 1,069,020 | ||||||||||||
61,915 | Total Colorado | 67,977,331 | ||||||||||||||
Connecticut – 0.8% | ||||||||||||||||
4,150 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Ascension Health, Series 1999B, 1.550%, 11/15/29 (Mandatory put 2/01/17) | No Opt. Call | AA+ | 4,240,927 | ||||||||||||
540 | Connecticut State Development Authority, Health Facilities Revenue Bonds, Alzheimer’s Resource Center of Connecticut, Inc., Series 2007, 5.200%, 8/15/17 | No Opt. Call | N/R | 567,621 | ||||||||||||
Connecticut State, Special Tax Obligation Transportation Infrastructure Purposes Bonds, Series 2013A: | ||||||||||||||||
2,300 | 5.000%, 10/01/17 (WI/DD, Settling 11/21/13) | No Opt. Call | AA | 2,655,120 | ||||||||||||
5,000 | 5.000%, 10/01/20 (WI/DD, Settling 11/21/13) | No Opt. Call | AA | 5,946,500 | ||||||||||||
1,700 | Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/20 (Alternative Minimum Tax) | 1/14 at 100.00 | BBB | 1,701,717 | ||||||||||||
New Britain, Connecticut, General Obligation Bonds, Series 2012: | ||||||||||||||||
2,670 | 3.000%, 3/15/16 – AGM Insured | No Opt. Call | A2 | 2,806,811 | ||||||||||||
2,670 | 3.000%, 3/15/17 – AGM Insured | No Opt. Call | A2 | 2,839,652 | ||||||||||||
1,915 | New Haven, Connecticut, General Obligation Bonds, Refunding Series 2010A-1, 5.000%, 2/01/14 | No Opt. Call | A3 | 1,935,663 |
Nuveen Investments | 107 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Connecticut (continued) | ||||||||||||||||
West Haven, Connecticut, General Obligation Bonds, Series 2012: | ||||||||||||||||
$ | 2,500 | 5.000%, 8/01/16 – AGM Insured | No Opt. Call | AA– | $ | 2,712,575 | ||||||||||
2,095 | 5.000%, 8/01/22 – AGM Insured | No Opt. Call | AA– | 2,309,235 | ||||||||||||
2,000 | 5.000%, 8/01/23 – AGM Insured | 8/22 at 100.00 | AA– | 2,177,400 | ||||||||||||
1,000 | 5.000%, 8/01/25 – AGM Insured | 8/22 at 100.00 | AA– | 1,055,890 | ||||||||||||
28,540 | Total Connecticut | 30,949,111 | ||||||||||||||
Delaware – 0.6% | ||||||||||||||||
755 | Delaware Health Facilities Authority, Revenue Bonds, Beebe Medical Center, Series 2005A, 5.000%, 6/01/14 | No Opt. Call | BBB– | 768,673 | ||||||||||||
Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013: | ||||||||||||||||
200 | 4.000%, 7/01/14 | No Opt. Call | BBB– | 201,760 | ||||||||||||
275 | 4.000%, 7/01/15 | No Opt. Call | BBB– | 279,810 | ||||||||||||
600 | 4.000%, 7/01/16 | No Opt. Call | BBB– | 610,692 | ||||||||||||
1,810 | 5.000%, 7/01/18 | No Opt. Call | BBB– | 1,898,038 | ||||||||||||
1,905 | 5.000%, 7/01/19 | No Opt. Call | BBB– | 1,975,695 | ||||||||||||
2,000 | 5.000%, 7/01/20 | No Opt. Call | BBB– | 2,087,940 | ||||||||||||
275 | 5.000%, 7/01/21 | No Opt. Call | BBB– | 282,021 | ||||||||||||
8,850 | Delaware State, General Obligation Bonds, Series 2013A, 5.000%, 8/01/17 | No Opt. Call | AAA | 10,266,177 | ||||||||||||
5,000 | University of Delaware, Revenue Bonds, Series 2013C, 0.700%, 11/01/37 (Mandatory put 5/01/16) | No Opt. Call | AA+ | 4,986,200 | ||||||||||||
21,670 | Total Delaware | 23,357,006 | ||||||||||||||
District of Columbia – 0.1% | ||||||||||||||||
District of Columbia, Income Tax Secured Revenue Bonds, Series 2009D: | ||||||||||||||||
1,100 | 5.000%, 12/01/16 | No Opt. Call | AAA | 1,249,677 | ||||||||||||
1,105 | 5.000%, 12/01/17 | No Opt. Call | AAA | 1,289,204 | ||||||||||||
2,205 | Total District of Columbia | 2,538,881 | ||||||||||||||
Florida – 5.2% | ||||||||||||||||
Citizens Property Insurance Corporation, Florida, High Risk Assessment Revenue, Senior Secured Bonds, Series 2009A-1: | ||||||||||||||||
35 | 5.500%, 6/01/14 | No Opt. Call | A+ | 36,063 | ||||||||||||
7,510 | 6.000%, 6/01/16 | No Opt. Call | A+ | 8,468,276 | ||||||||||||
295 | 5.375%, 6/01/16 | No Opt. Call | A+ | 328,031 | ||||||||||||
1,885 | 5.500%, 6/01/17 | No Opt. Call | A+ | 2,158,891 | ||||||||||||
Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1: | ||||||||||||||||
4,000 | 5.000%, 6/01/18 | No Opt. Call | A+ | 4,566,880 | ||||||||||||
170 | 5.000%, 6/01/19 | No Opt. Call | A+ | 194,538 | ||||||||||||
Citizens Property Insurance Corporation, Florida, High-Risk Account Senior Secured Bonds Series 2010A-1: | ||||||||||||||||
5,225 | 5.000%, 6/01/14 | No Opt. Call | A+ | 5,368,531 | ||||||||||||
610 | 5.250%, 6/01/17 | No Opt. Call | A+ | 693,314 | ||||||||||||
6,000 | Escambia County, Florida, Pollution Control Revenue Refunding Bonds, Gulf Power Company Project, Series 2003, 1.550%, 6/01/23 (Mandatory put 6/15/16) (Alternative Minimum Tax) | No Opt. Call | A | 6,093,600 | ||||||||||||
Florida Citizens Property Insurance Corporation, High Risk Account Revenue Bonds, Series 2007A: | ||||||||||||||||
1,265 | 5.000%, 3/01/14 – NPFG Insured | No Opt. Call | A+ | 1,285,063 | ||||||||||||
7,535 | 5.000%, 3/01/15 – NPFG Insured | No Opt. Call | A+ | 7,976,250 | ||||||||||||
540 | 5.000%, 3/01/16 – NPFG Insured | No Opt. Call | A+ | 590,614 | ||||||||||||
2,595 | 5.000%, 3/01/17 – NPFG Insured | No Opt. Call | A+ | 2,909,851 | ||||||||||||
Florida Citizens Property Insurance Corporation, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1: | ||||||||||||||||
10,400 | 5.000%, 6/01/15 | No Opt. Call | A+ | 11,114,896 | ||||||||||||
7,625 | 5.000%, 6/01/17 | No Opt. Call | A+ | 8,599,933 | ||||||||||||
Florida Department of Environmental Protection, Florida Forever Revenue Bonds, Series 2007B: | ||||||||||||||||
4,480 | 5.000%, 7/01/17 – NPFG Insured | No Opt. Call | AA– | 5,133,229 | ||||||||||||
6,575 | 5.000%, 7/01/19 – NPFG Insured | 7/17 at 101.00 | AA– | 7,398,650 | ||||||||||||
10,000 | Florida Hurricane Catastrophe Fund, Financial Corporation Revenue Bonds, Series 2010A, 5.000%, 7/01/15 | No Opt. Call | AA | 10,733,000 | ||||||||||||
2,605 | Florida Municipal Power Agency, Revenue Bonds, St. Lucie Project, Refunding Series 2011A, 5.000%, 10/01/20 | No Opt. Call | A2 | 3,046,860 | ||||||||||||
500 | Florida Municipal Power Agency, Revenue Bonds, St. Lucie Project, Refunding Series 2012A, 4.000%, 10/01/15 | No Opt. Call | A1 | 532,720 |
108 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Florida (continued) | ||||||||||||||||
Florida State Board of Education, Lottery Revenue Bonds, Series 2010A: | ||||||||||||||||
$ | 6,155 | 5.000%, 7/01/15 | No Opt. Call | AAA | $ | 6,633,428 | ||||||||||
2,830 | 5.000%, 7/01/16 | No Opt. Call | AAA | 3,157,714 | ||||||||||||
1,215 | 5.000%, 7/01/17 | No Opt. Call | AAA | 1,395,002 | ||||||||||||
1,500 | Florida State Department of General Services, Division of Facilities Management, Florida Facilities Pool Revenue Bonds, Series 2005A, 5.000%, 9/01/18 – AMBAC Insured | No Opt. Call | AA+ | 1,638,615 | ||||||||||||
4,615 | Hernando County, Florida, Revenue Bonds, Criminal Justice Complex Financing Program, Series 1986, 7.650%, 7/01/16 – FGIC Insured | No Opt. Call | A | 5,300,004 | ||||||||||||
Jacksonville, Florida, Special Revenue Bonds, Series 20120C: | ||||||||||||||||
2,500 | 5.000%, 10/01/17 | No Opt. Call | Aa2 | 2,882,875 | ||||||||||||
3,000 | 5.000%, 10/01/18 | No Opt. Call | Aa2 | 3,519,960 | ||||||||||||
2,000 | 5.000%, 10/01/19 | No Opt. Call | Aa2 | 2,355,500 | ||||||||||||
1,275 | 5.000%, 10/01/20 | No Opt. Call | Aa2 | 1,502,855 | ||||||||||||
900 | JEA, Florida, Electric System Revenue Bonds, Subordinate Series 2013B, 5.000%, 10/01/15 | No Opt. Call | AA | 978,741 | ||||||||||||
Manatee County, Florida, Revenue Refunding and Improvement Bonds, Series 2013: | ||||||||||||||||
1,000 | 5.000%, 10/01/15 | No Opt. Call | AA+ | 1,087,530 | ||||||||||||
2,500 | 5.000%, 10/01/20 | No Opt. Call | AA+ | 2,966,625 | ||||||||||||
1,540 | Marion County School Board, Florida, Certificates of Participation, Series 2007B, 5.000%, 6/01/18 – AMBAC Insured | 6/17 at 100.00 | A1 | 1,709,338 | ||||||||||||
355 | Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (Alternative Minimum Tax) | 6/20 at 100.00 | Ba1 | 319,543 | ||||||||||||
Miami-Dade County Industrial Development Authority, Florida, Solid Waste Revenue Bonds, Waste Management Inc. of Florida Projects 1 & 2, Series 2004: | ||||||||||||||||
3,725 | 3.750%, 12/01/18 | No Opt. Call | BBB | 3,816,821 | ||||||||||||
4,000 | 3.750%, 12/01/18 | No Opt. Call | BBB | 4,098,600 | ||||||||||||
Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition, Series 2010E: | ||||||||||||||||
1,515 | 4.000%, 4/01/15 | No Opt. Call | Aa3 | 1,587,553 | ||||||||||||
1,640 | 4.000%, 4/01/17 | No Opt. Call | Aa3 | 1,791,421 | ||||||||||||
1,705 | 5.000%, 4/01/18 | No Opt. Call | Aa3 | 1,951,270 | ||||||||||||
1,790 | 5.000%, 4/01/19 | No Opt. Call | Aa3 | 2,063,655 | ||||||||||||
1,880 | 5.000%, 4/01/20 | No Opt. Call | Aa3 | 2,166,644 | ||||||||||||
2,855 | Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2008B, 5.250%, 10/01/17 – AGM Insured | No Opt. Call | AA– | 3,321,992 | ||||||||||||
North Brevard County Hospital District, Florida, Revenue Bonds, Parrish Medical Center Project, Refunding Series 2008: | ||||||||||||||||
1,220 | 5.000%, 10/01/14 | No Opt. Call | A– | 1,263,481 | ||||||||||||
1,145 | 5.125%, 10/01/16 | No Opt. Call | A– | 1,260,405 | ||||||||||||
12,035 | North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.000%, 10/01/20 | No Opt. Call | A | 13,210,699 | ||||||||||||
2,000 | Okeechobee County, Florida, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004A, 2.250%, 7/01/39 (Mandatory put 7/01/16) | No Opt. Call | BBB | 2,018,880 | ||||||||||||
2,170 | Orlando-Orange County Expressway Authority, Florida, Senior Lien Revenue Bonds, Series 1988, 7.625%, 7/01/18 – AMBAC Insured (ETM) | No Opt. Call | A (4) | 2,672,702 | ||||||||||||
Osceola County, Florida, Transportation Revenue Bonds, Osceola Parkway, Series 2004: | ||||||||||||||||
2,105 | 5.000%, 4/01/18 – NPFG Insured | 4/14 at 100.00 | Aa3 | 2,145,879 | ||||||||||||
2,020 | 5.000%, 4/01/19 – NPFG Insured | 4/14 at 100.00 | Aa3 | 2,058,885 | ||||||||||||
5,000 | Palm Beach County Solid Waste Authority, Florida, Refunding Revenue Bonds, Series 2011, 5.000%, 10/01/25 | 10/21 at 100.00 | AA+ | 5,549,200 | ||||||||||||
5,750 | Port Everglades Authority, Florida, Port Facilities Revenue Bonds, Series 1986, 7.125%, 11/01/16 (ETM) | No Opt. Call | Aaa | 6,315,168 | ||||||||||||
2,250 | Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperative, Series 2007A, 5.350%, 3/15/42 (Mandatory put 5/01/18) – AMBAC Insured | No Opt. Call | A– | 2,601,810 | ||||||||||||
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A: | ||||||||||||||||
360 | 3.000%, 9/01/14 | No Opt. Call | A+ | 367,477 | ||||||||||||
400 | 3.000%, 9/01/15 | No Opt. Call | A+ | 416,740 | ||||||||||||
400 | 4.000%, 9/01/17 | No Opt. Call | A+ | 440,512 | ||||||||||||
875 | 5.000%, 9/01/18 | No Opt. Call | A+ | 1,010,896 | ||||||||||||
865 | 5.000%, 9/01/19 | No Opt. Call | A+ | 1,003,383 | ||||||||||||
705 | 5.000%, 9/01/20 | No Opt. Call | A+ | 816,320 | ||||||||||||
575 | 5.000%, 9/01/21 | No Opt. Call | A+ | 665,586 |
Nuveen Investments | 109 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Florida (continued) | ||||||||||||||||
$ | 110 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-2, 0.000%, 5/01/39 | 5/17 at 100.00 | N/R | $ | 81,172 | ||||||||||
340 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 | 5/19 at 100.00 | N/R | 204,639 | ||||||||||||
115 | Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 | 5/22 at 100.00 | N/R | 51,302 | ||||||||||||
165 | Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.375%, 5/01/17 (5) | 5/14 at 100.00 | N/R | 2 | ||||||||||||
10 | Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.375%, 5/01/17 (5) | No Opt. Call | N/R | 9,835 | ||||||||||||
225 | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2012A-1, 6.375%, 5/01/17 | No Opt. Call | N/R | 215,960 | ||||||||||||
740 | Tolomato Community Development District, Florida, Special Assessment Bonds, Southern/Forbearance Parcel Series 2007-2, 6.375%, 5/01/17 (5) | No Opt. Call | N/R | 415,510 | ||||||||||||
3,110 | Volusia County School Board, Florida, Sales Tax Revenue Bonds, Series 2004, 5.250%, 10/01/16 – AGM Insured | No Opt. Call | AA– | 3,420,471 | ||||||||||||
175,035 | Total Florida | 191,691,790 | ||||||||||||||
Georgia – 3.1% | ||||||||||||||||
7,150 | Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.500%, 11/01/18 – FGIC Insured | No Opt. Call | Aa3 | 8,546,681 | ||||||||||||
8,910 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Vogtle Plant, First Series 2012, 1.750%, 12/01/49 (Mandatory put 6/01/17) | No Opt. Call | A | 8,925,236 | ||||||||||||
17,000 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Vogtle Plant, Second Series 2012, 1.750%, 12/01/49 (Mandatory put 6/01/17) | No Opt. Call | A | 17,088,060 | ||||||||||||
13,000 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company – Vogtle Plant, Series 2008, 1.400%, 11/01/48 (Mandatory put 4/01/15) | No Opt. Call | A+ | 13,095,940 | ||||||||||||
5,000 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Fourth Series 1995, 1.200%, 10/01/32 (Mandatory put 4/01/14) | No Opt. Call | A+ | 5,009,750 | ||||||||||||
3,700 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Ninth Series 1994, 1.200%, 10/01/32 (Mandatory put 4/01/14) | No Opt. Call | A+ | 3,707,215 | ||||||||||||
3,345 | Cobb County Development Authority, Georgia, Solid Waste Disposal Revenue Bonds, Georgia Waste Management Project, Series 2004A, 2.000%, 4/01/33 (Mandatory put 10/01/14) | No Opt. Call | BBB | 3,354,968 | ||||||||||||
Columbia County, Georgia, General Obligation Sales Tax Bonds, Series 2009: | ||||||||||||||||
1,335 | 5.000%, 4/01/15 | No Opt. Call | AAA | 1,425,019 | ||||||||||||
1,450 | 5.000%, 4/01/17 | No Opt. Call | AAA | 1,663,614 | ||||||||||||
DeKalb County, Georgia, Water and Sewerage Revenue Bonds, Second Resolution Series 2011A: | ||||||||||||||||
700 | 4.000%, 10/01/14 | No Opt. Call | Aa3 | 724,052 | ||||||||||||
200 | 2.000%, 10/01/14 | No Opt. Call | Aa3 | 203,212 | ||||||||||||
500 | 4.000%, 10/01/15 | No Opt. Call | Aa3 | 533,810 | ||||||||||||
1,000 | Fulton County Development Authority, Georgia, Revenue Bonds, Robert W. Woodruff Arts Center, Inc. Project, Refunding Series 2009B, 5.000%, 3/15/16 | No Opt. Call | A2 | 1,097,830 | ||||||||||||
280 | Georgia Municipal Electric Authority, General Power Revenue Bonds, Series 1991V, 6.600%, 1/01/18 – NPFG Insured | No Opt. Call | A1 | 311,072 | ||||||||||||
2,105 | Georgia State, General Obligation Bonds, Series 2009B, 4.000%, 1/01/21 | 1/19 at 100.00 | AAA | 2,331,372 | ||||||||||||
11,440 | Georgia State, General Obligation Bonds, Series 2009D, 5.000%, 5/01/20 | 5/19 at 100.00 | AAA | 13,468,541 | ||||||||||||
10,000 | Gwinnett County School District, Georgia, General Obligation Bonds, Sales Tax Series 2012A, 4.000%, 10/01/16 | No Opt. Call | AAA | 11,010,500 | ||||||||||||
3,300 | Henry County School District, Georgia, General Obligation Bonds, Refunding Series 2012, 2.000%, 12/01/14 | No Opt. Call | AA+ | 3,365,043 | ||||||||||||
135 | Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Refunding Bonds, Series 1992N, 6.250%, 7/01/18 – NPFG Insured | No Opt. Call | Aa2 | 152,592 | ||||||||||||
1,000 | Municipal Electric Authority of Georgia, Combined Cycle Project Revenue Bonds, Series 2012A, 4.000%, 11/01/14 | No Opt. Call | A1 | 1,037,480 | ||||||||||||
1,000 | Municipal Electric Authority of Georgia, Project One Revenue Bonds, Refunding Subordinate Lien Series 2011A, 4.000%, 1/01/15 | No Opt. Call | A+ | 1,042,400 | ||||||||||||
7,615 | Municipal Electric Authority of Georgia, Project One Subordinate Lien Revenue Bonds, Series 2008A, 5.250%, 1/01/18 | No Opt. Call | A+ | 8,861,271 |
110 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Georgia (continued) | ||||||||||||||||
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University Project, Refunding Series 2012C: | ||||||||||||||||
$ | 500 | 5.000%, 10/01/17 | No Opt. Call | Baa2 | $ | 552,450 | ||||||||||
580 | 5.000%, 10/01/20 | No Opt. Call | Baa2 | 645,818 | ||||||||||||
Richmond County Board of Education, Georgia, General Obligation Bonds, Sales Tax Series 2012: | ||||||||||||||||
3,300 | 5.000%, 10/01/15 | No Opt. Call | AA+ | 3,594,195 | ||||||||||||
2,000 | 3.000%, 10/01/15 | No Opt. Call | AA+ | 2,101,940 | ||||||||||||
106,545 | Total Georgia | 113,850,061 | ||||||||||||||
Hawaii – 1.5% | ||||||||||||||||
Hawaii State, General Obligation Bonds, Refunding Series 2011EA: | ||||||||||||||||
2,660 | 5.000%, 12/01/16 | No Opt. Call | AA | 3,020,191 | ||||||||||||
7,500 | 5.000%, 12/01/17 | No Opt. Call | AA | 8,750,250 | ||||||||||||
15,000 | Hawaii State, General Obligation Bonds, Series 2008D-K, 5.000%, 5/01/16 | No Opt. Call | AA | 16,696,200 | ||||||||||||
6,415 | Hawaii State, General Obligation Bonds, Series 2011DZ, 5.000%, 12/01/18 | No Opt. Call | AA | 7,631,541 | ||||||||||||
4,500 | Hawaii State, General Obligation Bonds, Series 2012EE, 5.000%, 11/01/20 | No Opt. Call | AA | 5,408,505 | ||||||||||||
8,290 | Hawaii State, General Obligation Bonds, Series 2012EF, 5.000%, 11/01/20 | No Opt. Call | AA | 9,963,668 | ||||||||||||
Hawaii State, Highway Revenue Bonds, Series 2011A: | ||||||||||||||||
405 | 4.000%, 1/01/15 | No Opt. Call | AA+ | 422,609 | ||||||||||||
2,145 | 4.000%, 1/01/16 | No Opt. Call | AA+ | 2,309,479 | ||||||||||||
46,915 | Total Hawaii | 54,202,443 | ||||||||||||||
Illinois – 9.0% | ||||||||||||||||
1,240 | Bourbonnais, Illinois, Industrial Project Revenue Bonds, Olivet Nazarene University Project, Series 2010, 5.000%, 11/01/20 | No Opt. Call | BBB | 1,360,478 | ||||||||||||
1,000 | Bourbonnais, Illinois, Revenue Bonds, Olivet Nazarene University, Refunding Series 2007, 5.000%, 11/01/15 – RAAI Insured | No Opt. Call | BBB | 1,061,220 | ||||||||||||
1,405 | Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/17 – FGIC Insured | No Opt. Call | A+ | 1,238,522 | ||||||||||||
4,020 | Chicago, Illinois, General Obligation Bonds, Modern Schools Across Chicago Program, Series 2007J, 5.000%, 12/01/21 – AMBAC Insured | 12/16 at 100.00 | AA– | 4,137,223 | ||||||||||||
2,000 | Community Unit School District 308, Oswego, in the Counties of Kendall, Kane, and Will, Illinois, General Obligation Bonds, Series 2004, 5.375%, 10/01/18 (Pre-refunded 10/01/14) – AGM Insured | 10/14 at 100.00 | Aa2 (4) | 2,095,300 | ||||||||||||
2,000 | Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.000%, 12/01/20 | No Opt. Call | AA | 2,306,760 | ||||||||||||
7,195 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2009A, 5.000%, 11/15/17 | No Opt. Call | AA | 8,115,816 | ||||||||||||
4,750 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/22 | 11/20 at 100.00 | AA | 5,192,558 | ||||||||||||
3,315 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2011A, 5.000%, 11/15/18 | No Opt. Call | AA | 3,789,244 | ||||||||||||
Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C: | ||||||||||||||||
3,445 | 5.000%, 11/15/27 | 11/22 at 100.00 | AA | 3,540,461 | ||||||||||||
3,000 | 5.000%, 11/15/33 | No Opt. Call | AA | 2,966,250 | ||||||||||||
1,360 | Glendale Heights, Illinois, Hospital Revenue Bonds, Glendale Heights Hospital, Series 1985B, 7.100%, 12/01/15 (ETM) | No Opt. Call | Aaa | 1,461,293 | ||||||||||||
920 | Huntley, Illinois, Special Service Area 10, Special Tax Bonds, Series 2007, 4.600%, 3/01/17 – AGC Insured | No Opt. Call | AA– | 965,108 | ||||||||||||
1,250 | Illinois Development Finance Authority, Revenue Bonds, St Vincent de Paul Center Project, Series 2013A, 1.875%, 11/15/39 (Mandatory put 3/01/19) | No Opt. Call | AA+ | 1,230,650 | ||||||||||||
1,175 | Illinois Educational Facilities Authority, Revenue Bonds, Art Institute of Chicago, Series 1998A, 5.000%, 3/01/30 (Mandatory put 3/01/17) | No Opt. Call | A1 | 1,296,002 | ||||||||||||
2,745 | Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Series 1998B, 3.375%, 7/01/25 (Mandatory put 2/03/14) | No Opt. Call | Aa1 | 2,767,097 | ||||||||||||
13,200 | Illinois Educational Facilities Authority, Revenue Bonds, University of Chicago, Series 2004B2, 1.100%, 7/01/36 (Mandatory put 2/15/18) | No Opt. Call | Aa1 | 13,124,496 | ||||||||||||
11,300 | Illinois Finance Authority, Midwestern Disaster Area Industrial Development Revenue Bonds, Cargill, Incorporated Project, Series 2012, 1.550%, 11/01/38 (Mandatory put 11/01/17) | No Opt. Call | A | 11,214,346 | ||||||||||||
8,665 | Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27 | 9/22 at 100.00 | A– | 8,847,485 |
Nuveen Investments | 111 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Illinois (continued) | ||||||||||||||||
$ | 3,575 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2008C-3B, 4.375%, 11/01/38 (Mandatory put 7/01/14) | No Opt. Call | AA | $ | 3,674,242 | ||||||||||
3,000 | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2012E-1, 5.000%, 11/15/42 (Mandatory put 5/01/15) | 5/15 at 100.00 | AA+ | 3,193,650 | ||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, Children’s Memorial Hospital, Series 2008B, 5.500%, 8/15/21 | 8/18 at 100.00 | AA– | 2,204,200 | ||||||||||||
1,360 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 4.750%, 11/15/14 | No Opt. Call | A | 1,417,310 | ||||||||||||
1,200 | Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.000%, 5/15/17 | No Opt. Call | AA– | 1,354,716 | ||||||||||||
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2005: | ||||||||||||||||
1,100 | 5.000%, 8/15/14 | No Opt. Call | AA– | 1,134,232 | ||||||||||||
1,175 | 5.000%, 8/15/15 | No Opt. Call | AA– | 1,249,836 | ||||||||||||
1,000 | 5.000%, 8/15/16 – AGC Insured | No Opt. Call | AA– | 1,095,240 | ||||||||||||
875 | 5.000%, 8/15/18 | No Opt. Call | AA– | 983,203 | ||||||||||||
355 | 5.250%, 8/15/19 | No Opt. Call | AA– | 402,850 | ||||||||||||
2,000 | Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2009A, 5.500%, 2/15/16 | No Opt. Call | AA– | 2,194,040 | ||||||||||||
5,000 | Illinois Finance Authority, Revenue Bonds, The University of Chicago, Series 2012A, 5.000%, 10/01/20 | No Opt. Call | Aa1 | 5,912,050 | ||||||||||||
2,510 | Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., University Center Project, Series 2006B, 5.000%, 5/01/25 | 11/16 at 100.00 | BBB+ | 2,496,998 | ||||||||||||
410 | Illinois Health Facilities Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 1999, 5.500%, 8/15/19 | 2/14 at 100.00 | BBB– | 410,644 | ||||||||||||
3,000 | Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Series 2007A, 5.250%, 2/01/16 – FGIC Insured | No Opt. Call | A+ | 3,299,460 | ||||||||||||
2,080 | Illinois State Department of Employment Security, Unemployment Insurance Fund Building Receipts Revenue Bonds, Series 2012A, 5.000%, 6/15/14 | No Opt. Call | AA+ | 2,141,755 | ||||||||||||
Illinois State Department of Employment Security, Unemployment Insurance Fund Building Receipts Revenue Bonds, Series 2012B: | ||||||||||||||||
2,525 | 5.000%, 6/15/18 | 12/16 at 100.00 | AA+ | 2,821,940 | ||||||||||||
3,085 | 5.000%, 12/15/18 | 6/16 at 100.00 | AA+ | 3,383,813 | ||||||||||||
1,705 | 5.000%, 6/15/19 | 6/15 at 100.00 | AA+ | 1,816,371 | ||||||||||||
3,250 | 5.000%, 12/15/19 | 12/14 at 100.00 | AA+ | 3,406,975 | ||||||||||||
2,940 | Illinois State, General Obligation Bonds, Refunding Series 2004B, 5.000%, 3/01/14 | No Opt. Call | A– | 2,982,924 | ||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2006: | ||||||||||||||||
920 | 5.000%, 1/01/14 | No Opt. Call | A– | 926,780 | ||||||||||||
190 | 5.000%, 1/01/15 | No Opt. Call | A– | 198,826 | ||||||||||||
3,570 | 5.000%, 1/01/16 | No Opt. Call | A– | 3,848,032 | ||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2007B: | ||||||||||||||||
1,525 | 5.000%, 1/01/16 | No Opt. Call | A– | 1,643,767 | ||||||||||||
1,115 | 5.250%, 1/01/20 | No Opt. Call | A– | 1,243,927 | ||||||||||||
355 | Illinois State, General Obligation Bonds, Refunding Series 2008, 4.250%, 4/01/16 | No Opt. Call | A– | 378,870 | ||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2010: | ||||||||||||||||
2,860 | 5.000%, 1/01/14 | No Opt. Call | A– | 2,881,078 | ||||||||||||
1,505 | 5.000%, 1/01/16 | No Opt. Call | A– | 1,622,209 | ||||||||||||
5,045 | 5.000%, 1/01/17 – AGM Insured | No Opt. Call | AA– | 5,567,561 | ||||||||||||
490 | 5.000%, 1/01/17 | No Opt. Call | A– | 538,363 | ||||||||||||
4,995 | 5.000%, 1/01/18 – AGM Insured | No Opt. Call | AA– | 5,586,808 | ||||||||||||
22,010 | 5.000%, 1/01/18 | No Opt. Call | A– | 24,468,737 | ||||||||||||
545 | 5.000%, 1/01/19 | No Opt. Call | A– | 606,165 | ||||||||||||
6,745 | 5.000%, 1/01/24 | 1/20 at 100.00 | A– | 7,020,196 | ||||||||||||
885 | Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/14 (ETM) | No Opt. Call | N/R (4) | 892,169 | ||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2012: | ||||||||||||||||
7,060 | 5.000%, 8/01/15 | No Opt. Call | A– | 7,533,373 | ||||||||||||
8,000 | 5.000%, 8/01/16 | No Opt. Call | A– | 8,750,640 | ||||||||||||
5,250 | 5.000%, 8/01/17 | No Opt. Call | A– | 5,827,553 | ||||||||||||
5,170 | 5.000%, 8/01/19 | No Opt. Call | A– | 5,768,376 | ||||||||||||
4,055 | 5.000%, 8/01/20 | No Opt. Call | A– | 4,460,297 | ||||||||||||
6,975 | Illinois State, General Obligation Bonds, Series 2003A, 5.000%, 10/01/19 | 4/14 at 100.00 | A– | 6,999,134 | ||||||||||||
560 | Illinois State, General Obligation Bonds, Series 2003, 5.000%, 6/01/19 – NPFG Insured | 12/13 at 100.00 | A | 561,809 |
112 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Illinois (continued) | ||||||||||||||||
$ | 10 | Illinois State, General Obligation Bonds, Series 2004A, 5.000%, 3/01/22 | 3/14 at 100.00 | A– | $ | 10,108 | ||||||||||
Illinois State, General Obligation Bonds, Series 2004A: | ||||||||||||||||
1,840 | 5.000%, 3/01/16 (Pre-refunded 3/01/14) – NPFG Insured | 3/14 at 100.00 | A (4) | 1,869,790 | ||||||||||||
25 | 5.000%, 3/01/22 (Pre-refunded 3/01/14) | 3/14 at 100.00 | A2 (4) | 25,405 | ||||||||||||
Illinois State, General Obligation Bonds, Series 2004: | ||||||||||||||||
860 | 5.000%, 11/01/13 – AMBAC Insured (ETM) | No Opt. Call | A3 (4) | 860,000 | ||||||||||||
940 | 5.000%, 9/01/14 – NPFG Insured (ETM) | No Opt. Call | A (4) | 977,854 | ||||||||||||
Illinois State, General Obligation Bonds, Series 2005: | ||||||||||||||||
860 | 5.000%, 4/01/14 – AMBAC Insured | No Opt. Call | A– | 875,618 | ||||||||||||
2,000 | 5.000%, 9/01/16 – AGM Insured | 9/15 at 100.00 | AA– | 2,130,760 | ||||||||||||
Illinois State, General Obligation Bonds, Series 2006A: | ||||||||||||||||
1,035 | 5.000%, 6/01/17 | No Opt. Call | A– | 1,145,766 | ||||||||||||
6,400 | 5.000%, 6/01/23 | 12/16 at 100.00 | A– | 6,580,160 | ||||||||||||
Illinois State, General Obligation Bonds, Series 2006: | ||||||||||||||||
4,060 | 5.000%, 1/01/16 | No Opt. Call | A– | 4,376,193 | ||||||||||||
1,005 | 5.000%, 1/01/17 | 1/16 at 100.00 | A– | 1,073,461 | ||||||||||||
2,550 | 5.000%, 1/01/19 – NPFG Insured | 1/16 at 100.00 | A | 2,701,292 | ||||||||||||
1,000 | Illinois State, General Obligation Bonds, Series 2007A, 5.000%, 6/01/22 – AGM Insured | 6/17 at 100.00 | AA– | 1,079,560 | ||||||||||||
Illinois State, General Obligation Bonds, Series 2013: | ||||||||||||||||
1,500 | 5.000%, 7/01/17 | No Opt. Call | A– | 1,662,825 | ||||||||||||
3,500 | 5.000%, 7/01/21 | No Opt. Call | A– | 3,801,245 | ||||||||||||
2,520 | 5.500%, 7/01/25 | 7/23 at 100.00 | A– | 2,726,968 | ||||||||||||
2,030 | Illinois State, Sales Tax Revenue Bonds, Build Illinois Series 2010, 5.000%, 6/15/16 | No Opt. Call | AAA | 2,254,356 | ||||||||||||
Illinois State, Sales Tax Revenue Bonds, Build Illinois, Junior Lien Series 2013: | ||||||||||||||||
4,355 | 5.000%, 6/15/18 | No Opt. Call | AAA | 5,035,687 | ||||||||||||
6,000 | 5.000%, 6/15/19 | No Opt. Call | AAA | 6,961,800 | ||||||||||||
Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2001: | ||||||||||||||||
415 | 5.500%, 5/01/15 – AGM Insured | No Opt. Call | AA– | 443,091 | ||||||||||||
1,170 | 5.375%, 4/01/16 – NPFG Insured | No Opt. Call | A | 1,279,828 | ||||||||||||
Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2002: | ||||||||||||||||
680 | 5.500%, 8/01/14 – NPFG Insured | No Opt. Call | A | 704,310 | ||||||||||||
620 | 5.500%, 8/01/15 – NPFG Insured | No Opt. Call | A | 666,928 | ||||||||||||
2,295 | Kane County School District 129, Aurora West, Illinois, General Obligation Bonds, Series 2005B, 5.000%, 2/01/19 – FGIC Insured | 2/15 at 100.00 | A+ | 2,394,993 | ||||||||||||
Lake County Forest Preserve District, Illinois, General Obligation Bonds, Series 2007A: | ||||||||||||||||
875 | 0.533%, 12/15/13 | No Opt. Call | AAA | 874,965 | ||||||||||||
2,000 | 0.633%, 12/15/16 | 12/14 at 100.00 | AAA | 2,000,520 | ||||||||||||
1,900 | Peoria Public Building Commission, Illinois, School District Facility Revenue Bonds, Peoria County School District 150 Project, Series 2009A, 0.000%, 12/01/22 – AGC Insured | 12/18 at 79.62 | AA– | 1,286,661 | ||||||||||||
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010: | ||||||||||||||||
290 | 5.000%, 6/01/15 | No Opt. Call | A | 308,682 | ||||||||||||
5,115 | 5.000%, 6/01/16 | No Opt. Call | A | 5,613,866 | ||||||||||||
7,300 | 5.000%, 6/01/17 | No Opt. Call | A | 8,191,987 | ||||||||||||
5,140 | 5.000%, 6/01/18 | No Opt. Call | A | 5,847,367 | ||||||||||||
9,595 | 5.000%, 6/01/19 | No Opt. Call | A | 10,916,519 | ||||||||||||
5,185 | 5.250%, 6/01/20 | No Opt. Call | A | 5,925,937 | ||||||||||||
20 | 5.250%, 6/01/21 | No Opt. Call | A | 22,714 | ||||||||||||
5,620 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1990A, 7.200%, 11/01/20 – AMBAC Insured | No Opt. Call | AA | 6,599,903 | ||||||||||||
6,650 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1994D, 7.750%, 6/01/19 – FGIC Insured | No Opt. Call | AA | 7,956,260 | ||||||||||||
1,090 | Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008, 5.750%, 6/01/26 | 6/18 at 100.00 | AA | 1,203,774 | ||||||||||||
1,035 | Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008, 5.750%, 6/01/27 | 6/18 at 100.00 | AA | 1,120,667 | ||||||||||||
200 | Winnebago-Boone Counties School District 205, Illinois, General Obligation Bonds, Series 2013, 4.000%, 2/01/15 | No Opt. Call | AA– | 208,278 | ||||||||||||
307,640 | Total Illinois | 331,327,526 |
Nuveen Investments | 113 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Indiana – 2.7% | ||||||||||||||||
$ | 4,420 | East Chicago Elementary School Building Corporation, Lake County, Indiana, First Mortgage Bonds, Series 1996 Refunding, 6.250%, 1/05/16 | No Opt. Call | A | $ | 4,605,552 | ||||||||||
635 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 6.000%, 10/01/21 | 10/19 at 100.00 | BB– | 649,211 | ||||||||||||
6,800 | Indiana Finance Authority, Environmental Improvement Refunding Revenue Bonds, Southern Indiana Gas & Electric Company, Series 2013D, 1.950%, 3/01/24 (Mandatory put 9/14/17) | No Opt. Call | A1 | 6,859,092 | ||||||||||||
Indiana Finance Authority, Hospital Revenue Bonds, Beacon Health System Obligated Group, Series 2013A: | ||||||||||||||||
500 | 5.000%, 8/15/16 | No Opt. Call | AA– | 558,025 | ||||||||||||
635 | 5.000%, 8/15/18 | No Opt. Call | AA– | 734,447 | ||||||||||||
Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010: | ||||||||||||||||
1,445 | 5.000%, 3/01/19 | No Opt. Call | A– | 1,600,453 | ||||||||||||
2,115 | 5.000%, 3/01/20 | No Opt. Call | A– | 2,337,794 | ||||||||||||
Indiana Finance Authority, Hospital Revenue Bonds, Parkview Health System Obligated Group, Series 2012A: | ||||||||||||||||
850 | 5.000%, 5/01/19 | No Opt. Call | A+ | 975,129 | ||||||||||||
750 | 5.000%, 5/01/20 | No Opt. Call | A+ | 860,483 | ||||||||||||
2,000 | 5.000%, 5/01/21 | No Opt. Call | A+ | 2,279,640 | ||||||||||||
5,725 | Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013B, 5.000%, 1/01/19 (Alternative Minimum Tax) | 1/17 at 100.00 | BBB | 6,080,694 | ||||||||||||
12,020 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011C, 3.000%, 10/01/16 | No Opt. Call | AA– | 12,706,582 | ||||||||||||
11,080 | Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension Health, Series 2006B-7, 4.100%, 11/15/46 (Mandatory put 11/03/16) | No Opt. Call | AA+ | 12,052,048 | ||||||||||||
2,500 | Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2005-A3, 1.700%, 11/01/27 (Mandatory put 9/01/14) | No Opt. Call | AA | 2,530,825 | ||||||||||||
5,140 | Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2012A-2, 1.600%, 11/15/36 (Mandatory put 2/01/17) | No Opt. Call | AA+ | 5,168,476 | ||||||||||||
3,500 | Indiana Transportation Finance Authority, Highway Revenue Bonds, Series 1993A, 0.000%, 12/01/15 – AMBAC Insured | No Opt. Call | AA+ | 3,446,135 | ||||||||||||
4,240 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A, 5.500%, 1/01/16 – AGC Insured | No Opt. Call | AA– | 4,677,780 | ||||||||||||
Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Refunding Series 2006: | ||||||||||||||||
1,150 | 5.500%, 1/01/16 – NPFG Insured | No Opt. Call | A+ | 1,266,380 | ||||||||||||
1,630 | 5.500%, 7/01/19 – NPFG Insured | No Opt. Call | A+ | 1,931,338 | ||||||||||||
3,690 | 5.500%, 1/01/20 – NPFG Insured | No Opt. Call | A+ | 4,360,473 | ||||||||||||
4,080 | Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public Service Company Project, Series 1988A Remarketed, 5.600%, 11/01/16 – NPFG Insured | No Opt. Call | A | 4,521,905 | ||||||||||||
6,290 | Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public Service Company Project, Series 2003 Remarketed, 5.700%, 7/01/17 – AMBAC Insured | No Opt. Call | Baa2 | 7,056,688 | ||||||||||||
Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A: | ||||||||||||||||
355 | 3.000%, 4/01/16 | No Opt. Call | A3 | 369,743 | ||||||||||||
880 | 4.000%, 4/01/17 | No Opt. Call | A3 | 947,663 | ||||||||||||
400 | 4.000%, 4/01/18 | No Opt. Call | A3 | 433,532 | ||||||||||||
550 | 3.000%, 4/01/19 | No Opt. Call | A3 | 567,518 | ||||||||||||
Lake County Building Corporation, Indiana, First Mortgage Bonds, Series 2012: | ||||||||||||||||
840 | 3.000%, 2/01/14 | No Opt. Call | N/R | 842,528 | ||||||||||||
855 | 3.000%, 8/01/14 | No Opt. Call | N/R | 861,404 | ||||||||||||
870 | 3.000%, 2/01/15 | No Opt. Call | N/R | 876,099 | ||||||||||||
880 | 4.000%, 8/01/15 | No Opt. Call | N/R | 902,669 | ||||||||||||
900 | 4.000%, 2/01/16 | No Opt. Call | N/R | 927,099 | ||||||||||||
915 | 4.000%, 8/01/16 | No Opt. Call | N/R | 946,741 | ||||||||||||
2,795 | State of Indiana, Indiana Toll Road Commission, East-West Toll Road Revenue Bonds, 1980 Series, 9.000%, 1/01/15 (ETM) | No Opt. Call | Aaa | 2,961,862 | ||||||||||||
91,435 | Total Indiana | 97,896,008 |
114 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Iowa – 0.6% | ||||||||||||||||
Fort Dodge Community School District, Webster County, Iowa, School Infrastructure Sales, Services, and Use Tax Revenue Bonds, Series 2011: | ||||||||||||||||
$ | 1,150 | 4.000%, 1/01/18 – AGM Insured | No Opt. Call | AA– | $ | 1,265,196 | ||||||||||
1,330 | 5.000%, 1/01/19 – AGM Insured | No Opt. Call | AA– | 1,525,603 | ||||||||||||
1,380 | 5.000%, 1/01/20 – AGM Insured | No Opt. Call | AA– | 1,580,224 | ||||||||||||
1,245 | 5.000%, 1/01/22 – AGM Insured | 1/21 at 100.00 | AA– | 1,403,588 | ||||||||||||
1,420 | Iowa City, Iowa, General Obligation Bonds, Capital Loan Notes, Refunding Series 2008B, 3.250%, 6/01/14 | No Opt. Call | Aaa | 1,445,162 | ||||||||||||
7,645 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.000%, 12/01/19 | No Opt. Call | BB– | 7,430,023 | ||||||||||||
Iowa State, Special Obligation Bonds, I-Jobs Program, Series 2009A: | ||||||||||||||||
1,930 | 5.000%, 6/01/17 | No Opt. Call | AA | 2,224,808 | ||||||||||||
3,120 | 5.000%, 6/01/18 | No Opt. Call | AA | 3,679,572 | ||||||||||||
19,220 | Total Iowa | 20,554,176 | ||||||||||||||
Kansas – 0.8% | ||||||||||||||||
Kansas Department of Transportation, Highway Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
4,680 | 5.000%, 9/01/16 | No Opt. Call | AAA | 5,277,308 | ||||||||||||
6,050 | 5.000%, 9/01/17 | No Opt. Call | AAA | 7,026,349 | ||||||||||||
650 | Kansas Development Finance Authority, Health Facilities Revenue Bonds, Hays Medical Center Inc., Series 2005L, 5.250%, 11/15/14 | No Opt. Call | A2 | 680,596 | ||||||||||||
Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A: | ||||||||||||||||
1,245 | 5.000%, 1/01/20 | No Opt. Call | AA– | 1,448,084 | ||||||||||||
1,475 | 5.000%, 1/01/23 | 1/20 at 100.00 | AA– | 1,622,456 | ||||||||||||
Topeka Public Building Commission, Kansas, Revenue Bonds, State of Kansas Department of Administration – 10th and Jackson Projects, Series 2007A: | ||||||||||||||||
2,245 | 5.000%, 6/01/25 – NPFG Insured | 6/18 at 102.00 | AA | 2,469,657 | ||||||||||||
2,945 | 5.000%, 6/01/26 – NPFG Insured | 6/18 at 102.00 | AA | 3,217,000 | ||||||||||||
10,325 | Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21 | No Opt. Call | BBB+ | 6,891,938 | ||||||||||||
29,615 | Total Kansas | 28,633,388 | ||||||||||||||
Kentucky – 1.1% | ||||||||||||||||
3,750 | Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.000%, 6/01/18 | No Opt. Call | Aa3 | 4,318,350 | ||||||||||||
15,325 | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2009B, 5.000%, 5/15/17 | No Opt. Call | AA | 17,655,933 | ||||||||||||
3,580 | Louisville-Jefferson County Metropolitan Government, Kentucky, Environmental Facilities Revenue, Louisville Gas & Electric Company Project, Series 2007B, 1.600%, 6/01/33 (Mandatory put 6/01/17) | No Opt. Call | A– | 3,613,652 | ||||||||||||
13,360 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2003A, 1.650%, 10/01/33 (Mandatory put 4/03/17) | No Opt. Call | A+ | 13,492,130 | ||||||||||||
3,000 | Warren County, Kentucky, Hospital Refunding Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2013, 5.000%, 4/01/23 | No Opt. Call | A | 3,324,630 | ||||||||||||
39,015 | Total Kentucky | 42,404,695 | ||||||||||||||
Louisiana – 2.4% | ||||||||||||||||
5,000 | De Soto Parrish, Louisiana, Pollution Control Revenue Refunding Bonds, Southwestern Electric Power Company Project, Series 2010, 3.250%, 1/01/19 (Mandatory put 1/02/15) | No Opt. Call | BBB | 5,105,350 | ||||||||||||
940 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Livingston Parish North Park Project, Series 2008, 6.100%, 10/01/19 | 10/18 at 100.00 | A+ | 1,086,132 | ||||||||||||
2,700 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Hotel LLC Project, Series 2007A, 6.500%, 12/15/15 (5) | No Opt. Call | N/R | 1,567,107 | ||||||||||||
585 | Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.000%, 1/01/14 – NPFG Insured (ETM) | No Opt. Call | A (4) | 589,739 | ||||||||||||
245 | Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series 2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured | 7/14 at 100.00 | A (4) | 252,842 |
Nuveen Investments | 115 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Louisiana (continued) | ||||||||||||||||
Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A: | ||||||||||||||||
$ | 475 | 5.000%, 7/01/18 | No Opt. Call | A | $ | 550,478 | ||||||||||
1,525 | 5.000%, 7/01/19 | No Opt. Call | A | 1,762,321 | ||||||||||||
1,000 | 5.000%, 7/01/20 | No Opt. Call | A | 1,138,790 | ||||||||||||
7,245 | 5.000%, 7/01/26 | 7/23 at 100.00 | A | 7,942,694 | ||||||||||||
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Series 2012A-1: | ||||||||||||||||
2,250 | 5.000%, 5/01/19 | No Opt. Call | Aa1 | 2,670,908 | ||||||||||||
2,500 | 5.000%, 5/01/20 | No Opt. Call | Aa1 | 2,988,725 | ||||||||||||
3,605 | 5.000%, 5/01/21 | No Opt. Call | Aa1 | 4,319,799 | ||||||||||||
11,970 | Louisiana State, General Obligation Bonds, Series 2012A, 5.000%, 8/01/19 | No Opt. Call | Aa2 | 14,306,065 | ||||||||||||
7,125 | New Orleans, Louisiana, General Obligation Bonds, Series 1998, 5.500%, 12/01/21 – FGIC Insured | No Opt. Call | A3 | 8,097,990 | ||||||||||||
New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2012: | ||||||||||||||||
2,860 | 5.000%, 12/01/19 | No Opt. Call | A3 | 3,295,235 | ||||||||||||
2,500 | 5.000%, 12/01/20 | No Opt. Call | A3 | 2,866,050 | ||||||||||||
3,600 | 5.000%, 12/01/21 | No Opt. Call | A3 | 4,090,212 | ||||||||||||
40 | Saint Bernard Parish, Louisiana, Sales and Use Tax Revenue Bonds, Series 2004, 5.000%, 3/01/17 – AGM Insured | 3/14 at 101.00 | AA– | 41,014 | ||||||||||||
2,205 | Saint Bernard Parish, Louisiana, Sales and Use Tax Revenue Bonds, Series 2004, 5.000%, 3/01/17 (Pre-refunded 3/01/14) – AGM Insured | 3/14 at 101.00 | AA– (4) | 2,262,815 | ||||||||||||
5,745 | Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) | No Opt. Call | BBB | 5,753,560 | ||||||||||||
Terrebonne Leve and Conservation District, Louisiana, Public Improvement Sales Tax Bonds, Series 2013: | ||||||||||||||||
1,710 | 5.000%, 7/01/21 | No Opt. Call | A+ | 1,959,694 | ||||||||||||
1,670 | 5.000%, 7/01/22 | No Opt. Call | A+ | 1,909,495 | ||||||||||||
Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2013A: | ||||||||||||||||
5,000 | 5.000%, 5/15/24 | 5/15 at 100.00 | A– | 5,169,450 | ||||||||||||
10,000 | 5.000%, 5/15/25 | 5/16 at 100.00 | A– | 10,426,800 | ||||||||||||
82,495 | Total Louisiana | 90,153,265 | ||||||||||||||
Maine – 0.1% | ||||||||||||||||
3,300 | Maine Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004, 3.800%, 11/01/15 (Alternative Minimum Tax) | 5/14 at 100.00 | BBB | 3,456,321 | ||||||||||||
Maryland – 1.7% | ||||||||||||||||
1,095 | Anne Arundel County, Maryland, General Obligation Bonds, Consolidated General Improvement, Series 2012, 5.000%, 4/01/15 | No Opt. Call | AAA | 1,168,672 | ||||||||||||
6,235 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2009, 5.000%, 8/01/18 | No Opt. Call | AAA | 7,398,139 | ||||||||||||
1,000 | Baltimore, Maryland, General Obligation Bonds, Consolidated Public Improvements, Refunding Series 2013B, 5.000%, 10/15/15 | No Opt. Call | Aa2 | 1,091,050 | ||||||||||||
1,500 | Harford County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2009, 3.000%, 6/01/15 | No Opt. Call | Aaa | 1,565,550 | ||||||||||||
290 | Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities Projects, First Series 1978, 6.800%, 7/01/16 – AMBAC Insured (ETM) | No Opt. Call | Aaa | 319,954 | ||||||||||||
Maryland, General Obligation Bonds, State and Local Facilities Loan, Second Series 2008: | ||||||||||||||||
5,000 | 5.000%, 7/15/16 | No Opt. Call | AAA | 5,614,400 | ||||||||||||
5,590 | 5.000%, 7/15/17 | No Opt. Call | AAA | 6,474,506 | ||||||||||||
5,130 | 5.000%, 7/15/18 | No Opt. Call | AAA | 6,081,410 | ||||||||||||
13,610 | Maryland, General Obligation Bonds, State and Local Facilities Loan, Third Series 2009C, 5.000%, 11/01/17 | No Opt. Call | AAA | 15,886,817 | ||||||||||||
5,000 | Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Refunding Series 2011A, 5.000%, 7/01/19 | No Opt. Call | AAA | 5,998,550 | ||||||||||||
10,000 | Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 2007A, 5.000%, 5/01/16 | No Opt. Call | AAA | 11,145,800 | ||||||||||||
54,450 | Total Maryland | 62,744,848 |
116 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Massachusetts – 2.1% | ||||||||||||||||
$ | 3,500 | Boston, Massachusetts, General Obligation Bonds, Refunding Series 2009C, 3.000%, 2/01/15 | No Opt. Call | Aaa | $ | 3,622,850 | ||||||||||
2,745 | Massachusetts Bay Transportation Authority, General Obligation Transportation System Refunding Bonds, Series 1992B, 6.200%, 3/01/16 – NPFG Insured | No Opt. Call | AA+ | 2,893,505 | ||||||||||||
540 | Massachusetts Development Finance Agency, Pioneer Valley Resource Recovery Revenue Bonds, Eco/Springfield LLC, Series 2006, 5.875%, 7/01/14 (Alternative Minimum Tax) | No Opt. Call | N/R | 535,259 | ||||||||||||
440 | Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2012L, 5.000%, 7/01/15 | No Opt. Call | AA | 473,779 | ||||||||||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Series 2009A: | ||||||||||||||||
2,000 | 5.000%, 11/15/15 | No Opt. Call | AAA | 2,191,040 | ||||||||||||
2,075 | 5.000%, 11/15/16 | No Opt. Call | AAA | 2,357,117 | ||||||||||||
1,510 | 5.000%, 11/15/17 | No Opt. Call | AAA | 1,764,360 | ||||||||||||
1,000 | 5.000%, 11/15/18 | No Opt. Call | AAA | 1,193,520 | ||||||||||||
10,375 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Institute of Technology, Series 2009O, 5.000%, 7/01/16 | No Opt. Call | AAA | 11,633,695 | ||||||||||||
190 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A, 5.000%, 8/15/16 – AGM Insured | 8/15 at 100.00 | AA+ | 205,325 | ||||||||||||
2,080 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A, 5.000%, 8/15/21 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 2,255,157 | ||||||||||||
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A: | ||||||||||||||||
190 | 5.000%, 8/15/17 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 206,000 | ||||||||||||
3,975 | 5.000%, 8/15/18 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 4,309,735 | ||||||||||||
80 | 5.000%, 8/15/19 (Pre-refunded 8/15/15) – NPFG Insured | 8/15 at 100.00 | AA+ (4) | 86,737 | ||||||||||||
775 | 5.000%, 8/15/20 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 840,263 | ||||||||||||
345 | 5.000%, 8/15/22 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 374,052 | ||||||||||||
35 | 5.000%, 8/15/23 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 37,947 | ||||||||||||
335 | 5.000%, 8/15/24 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 363,210 | ||||||||||||
730 | 5.000%, 8/15/25 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 791,473 | ||||||||||||
225 | 5.000%, 8/15/26 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | AA+ (4) | 243,947 | ||||||||||||
85 | 5.000%, 8/15/27 (Pre-refunded 8/15/15) – NPFG Insured | 8/15 at 100.00 | Aa2 (4) | 92,158 | ||||||||||||
360 | 5.000%, 8/15/30 (Pre-refunded 8/15/15) – AGM Insured | 8/15 at 100.00 | Aa2 (4) | 390,316 | ||||||||||||
1,450 | 5.000%, 8/15/30 (Pre-refunded 8/15/15) | 8/15 at 100.00 | Aa2 (4) | 1,572,105 | ||||||||||||
8,675 | Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.000%, 1/01/34 (Pre-refunded 1/01/14) – FGIC Insured | 1/14 at 100.00 | A1 (4) | 8,745,615 | ||||||||||||
12,900 | Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2002C, 5.500%, 11/01/17 – AGM Insured | No Opt. Call | AA+ | 15,281,082 | ||||||||||||
5,000 | Massachusetts, Special Obligation Refunding Notes, Federal Highway Grant Anticipation Note Program, Series 2003A, 5.000%, 12/15/13 – AGM Insured | No Opt. Call | AAA | 5,029,900 | ||||||||||||
Norwood, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2009A: | ||||||||||||||||
2,420 | 4.000%, 8/15/15 | No Opt. Call | AA | 2,579,067 | ||||||||||||
2,420 | 4.000%, 8/15/16 | No Opt. Call | AA | 2,655,369 | ||||||||||||
2,420 | 4.000%, 8/15/17 | No Opt. Call | AA | 2,711,174 | ||||||||||||
2,420 | 4.000%, 8/15/18 | No Opt. Call | AA | 2,749,943 | ||||||||||||
71,295 | Total Massachusetts | 78,185,700 | ||||||||||||||
Michigan – 4.3% | ||||||||||||||||
Detroit-Wayne County Stadium Authority, Michigan, Wayne County Limited Tax General Obligation Bonds, Building Authority Stadium Refunding Series 2012: | ||||||||||||||||
875 | 5.000%, 10/01/15 | No Opt. Call | BBB– | 924,105 | ||||||||||||
1,600 | 5.000%, 10/01/16 | No Opt. Call | BBB– | 1,722,448 | ||||||||||||
900 | 5.000%, 10/01/17 | No Opt. Call | BBB– | 975,033 | ||||||||||||
1,100 | 5.000%, 10/01/18 | No Opt. Call | BBB– | 1,196,701 | ||||||||||||
1,500 | 5.000%, 10/01/19 – AGM Insured | No Opt. Call | AA– | 1,661,715 | ||||||||||||
Jackson Public Schools, Jackson County, Michigan, General Obligation School Building and Site Bonds, Series 2004: | ||||||||||||||||
2,265 | 5.000%, 5/01/21 (Pre-refunded 5/01/14) | 5/14 at 100.00 | Aa2 (4) | 2,319,066 | ||||||||||||
185 | 5.000%, 5/01/21 (Pre-refunded 5/01/14) | 5/14 at 100.00 | Aa2 (4) | 189,416 | ||||||||||||
Lake Orion Community School District, Oakland County, Michigan, General Obligation Bonds, Series 2012 Refunding: | ||||||||||||||||
1,200 | 5.000%, 5/01/14 | No Opt. Call | AA– | 1,228,764 | ||||||||||||
775 | 4.000%, 5/01/15 | No Opt. Call | AA– | 808,767 |
Nuveen Investments | 117 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Michigan (continued) | ||||||||||||||||
$ | 1,000 | 5.000%, 5/01/16 | No Opt. Call | AA– | $ | 1,097,480 | ||||||||||
1,000 | 4.000%, 5/01/17 | No Opt. Call | AA– | 1,081,170 | ||||||||||||
1,780 | 4.000%, 5/01/18 | No Opt. Call | AA– | 1,938,954 | ||||||||||||
Michigan Finance Authority, Revenue Bonds, Detroit City School District, Series 2012: | ||||||||||||||||
1,000 | 5.000%, 6/01/14 | No Opt. Call | A+ | 1,021,790 | ||||||||||||
1,700 | 5.000%, 6/01/15 | No Opt. Call | A+ | 1,792,004 | ||||||||||||
1,600 | 5.000%, 6/01/16 | No Opt. Call | A+ | 1,724,432 | ||||||||||||
1,700 | Michigan Finance Authority, State Revolving Fund Revenue Bonds, Clean Water Subordinate Refunding Series 2013, 5.000%, 10/01/15 | No Opt. Call | AAA | 1,850,518 | ||||||||||||
Michigan Finance Authority, Unemployment Obligation Assessment Revenue Bonds, Series 2012A: | ||||||||||||||||
10,000 | 5.000%, 7/01/14 | No Opt. Call | AAA | 10,320,600 | ||||||||||||
15,475 | 5.000%, 7/01/15 | No Opt. Call | AAA | 16,676,479 | ||||||||||||
Michigan Finance Authority, Unemployment Obligation Assessment Revenue Bonds, Series 2012B: | ||||||||||||||||
8,790 | 5.000%, 7/01/21 | 7/18 at 100.00 | AAA | 9,954,060 | ||||||||||||
13,475 | 5.000%, 7/01/22 | 7/16 at 100.00 | AAA | 14,750,678 | ||||||||||||
10,000 | Michigan Hospital Finance Authority, Refunding and Project Revenue Bonds, Ascension Health Senior Credit Group, Series 2010F-5, 1.500%, 11/15/47 (Mandatory put 3/15/17) | No Opt. Call | AA+ | 10,035,700 | ||||||||||||
3,180 | Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/17 | No Opt. Call | AA+ | 3,644,916 | ||||||||||||
18,530 | Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Senior Credit Group, Refunding Series 2010F-1, 2.000%, 11/15/47 (Mandatory put 5/30/18) | No Opt. Call | AA+ | 18,731,977 | ||||||||||||
4,295 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2009B, 4.375%, 10/01/19 | 10/18 at 100.00 | AA | 4,457,995 | ||||||||||||
6,445 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2005I, 5.000%, 10/15/33 – AMBAC Insured | 10/15 at 100.00 | Aa3 | 6,505,132 | ||||||||||||
1,010 | Michigan State Building Authority, Revenue Bonds, State Police Communications System Project, Series 2004, 5.375%, 10/01/15 (Pre-refunded 10/01/14) – NPFG Insured | 10/14 at 100.00 | A+ (4) | 1,058,177 | ||||||||||||
6,025 | Michigan State Trunk Line Fund Refunding Bonds, Series 2009, 5.000%, 11/01/20 | 11/19 at 100.00 | AA+ | 6,954,176 | ||||||||||||
1,605 | Michigan State, General Obligation Bonds, Environmental Program, Series 2009A, 5.500%, 11/01/21 | 5/19 at 100.00 | Aa2 | 1,829,973 | ||||||||||||
2,000 | Michigan State, General Obligation Refunding Bonds, Series 2002, 5.500%, 12/01/15 | No Opt. Call | Aa2 | 2,207,280 | ||||||||||||
7,000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Edison Project, Refunding Series 2008, 5.250%, 8/01/29 (Mandatory put 8/01/14) | No Opt. Call | A1 | 7,250,600 | ||||||||||||
1,000 | Pinckney Community Schools, Livingston and Washtenaw Counties, Michigan, General Obligation Bonds, Series 2004, 5.000%, 5/01/19 – AGM Insured | 5/14 at 100.00 | Aa2 | 1,019,450 | ||||||||||||
Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, General Obligation Bonds, Refunding Series 2012A: | ||||||||||||||||
1,100 | 4.000%, 5/01/19 | No Opt. Call | Aa2 | 1,196,932 | ||||||||||||
1,000 | 5.000%, 5/01/21 | No Opt. Call | Aa2 | 1,141,170 | ||||||||||||
Plymouth-Canton Community School District, Wayne and Washtenaw Counties, Michigan, General Obligation Bonds, School Building & Site Series 2013A: | ||||||||||||||||
765 | 5.000%, 5/01/19 | No Opt. Call | Aa2 | 885,732 | ||||||||||||
1,000 | 5.000%, 5/01/20 | No Opt. Call | Aa2 | 1,157,160 | ||||||||||||
1,370 | South Lyon Community Schools, Oakland, Washtenaw and Livingston Counties, Michigan, General Obligation Bonds, Series 2005, 5.000%, 5/01/19 (Pre-refunded 5/01/15) – AGM Insured | 5/15 at 100.00 | Aa2 (4) | 1,466,914 | ||||||||||||
1,025 | South Redford School District, Wayne County, Michigan, General Obligation Bonds, Series 2004, 5.000%, 5/01/22 – FGIC Insured | 11/14 at 100.00 | Aa2 | 1,062,525 | ||||||||||||
4,975 | Walled Lake Consolidated School District, Oakland County, Michigan, General Obligation Bonds, Refunding Series 2011, 5.000%, 5/01/19 | No Opt. Call | Aa2 | 5,685,729 | ||||||||||||
8,150 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010C, 5.000%, 12/01/16 | No Opt. Call | A | 9,088,473 | ||||||||||||
148,395 | Total Michigan | 158,614,191 | ||||||||||||||
Minnesota – 1.1% | ||||||||||||||||
Cass Lake Independent School District 115, Minnesota, General Obligation Bonds, School Building Refunding Series 2010A: | ||||||||||||||||
745 | 4.000%, 2/01/23 | 2/20 at 100.00 | AA+ | 802,581 |
118 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Minnesota (continued) | ||||||||||||||||
$ | 1,615 | 5.000%, 2/01/25 | 2/20 at 100.00 | AA+ | $ | 1,799,934 | ||||||||||
1,690 | 5.000%, 2/01/26 | 2/20 at 100.00 | AA+ | 1,866,368 | ||||||||||||
5,025 | Minneapolis, Minnesota, General Obligation Bonds, Various Purpose Refunding Series 2009B, 4.000%, 12/01/15 | No Opt. Call | AAA | 5,410,468 | ||||||||||||
877 | Minneapolis-Saint Paul Housing Finance Board, Minnesota, Single Family Mortgage Revenue Bonds, City Living Series 2006A-3, 5.700%, 4/01/27 | 2/16 at 100.00 | AA+ | 914,902 | ||||||||||||
1,500 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Series 2005A, 5.000%, 1/01/18 – AMBAC Insured | 1/15 at 100.00 | A | 1,568,055 | ||||||||||||
Minnesota State, General Obligation Bonds, State Trunk Highway Series 2009E: | ||||||||||||||||
4,000 | 4.500%, 8/01/17 | No Opt. Call | AA+ | 4,561,360 | ||||||||||||
4,000 | 4.500%, 8/01/18 | No Opt. Call | AA+ | 4,649,560 | ||||||||||||
6,045 | Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D, 5.000%, 8/01/16 | No Opt. Call | AA+ | 6,794,882 | ||||||||||||
Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
1,000 | 5.000%, 1/01/14 – AGC Insured | No Opt. Call | AA– | 1,008,100 | ||||||||||||
1,630 | 5.000%, 1/01/15 – AGC Insured | No Opt. Call | AA– | 1,719,438 | ||||||||||||
7,000 | 5.000%, 1/01/16 – AGC Insured | No Opt. Call | AA– | 7,663,530 | ||||||||||||
35,127 | Total Minnesota | 38,759,178 | ||||||||||||||
Mississippi – 0.3% | ||||||||||||||||
11,500 | Mississippi Business Finance Corporation, Revenue Bonds, Mississippi Power Company Project, First Series 2010, 1.625%, 12/01/40 (Mandatory put 1/12/18) | No Opt. Call | A | 11,496,205 | ||||||||||||
1,100 | Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2004B-1, 5.000%, 9/01/16 | 9/14 at 100.00 | AA– | 1,137,257 | ||||||||||||
12,600 | Total Mississippi | 12,633,462 | ||||||||||||||
Missouri – 1.6% | ||||||||||||||||
Kansas City Tax Increment Financing Commission, Missouri, Tax Increment Revenue Bonds, Shoal Creek Parkway Project, Series 2011: | ||||||||||||||||
2,000 | 5.625%, 6/01/23 | 6/16 at 100.00 | N/R | 2,013,520 | ||||||||||||
100 | 6.500%, 6/01/25 | No Opt. Call | N/R | 100,654 | ||||||||||||
Metropolitan St. Louis Sewerage District, Missouri, Wastewater System Revenue Bonds, Series 2011B: | ||||||||||||||||
2,520 | 4.000%, 5/01/23 | 5/21 at 100.00 | AAA | 2,757,863 | ||||||||||||
2,695 | 4.000%, 5/01/24 | 5/21 at 100.00 | AAA | 2,921,299 | ||||||||||||
Missouri Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water Revenue Bonds, State Revolving Fund Program, Series 2010A: | ||||||||||||||||
3,595 | 5.000%, 1/01/17 | No Opt. Call | Aaa | 4,096,503 | ||||||||||||
3,000 | 5.000%, 1/01/18 | No Opt. Call | Aaa | 3,509,910 | ||||||||||||
1,000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services, Series 2007A, 4.875%, 2/01/19 | 2/17 at 100.00 | BBB+ | 1,059,700 | ||||||||||||
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2013: | ||||||||||||||||
505 | 4.000%, 7/01/15 | No Opt. Call | A– | 532,088 | ||||||||||||
445 | 5.000%, 7/01/16 | No Opt. Call | A– | 493,216 | ||||||||||||
715 | 5.000%, 7/01/17 | No Opt. Call | A– | 816,895 | ||||||||||||
765 | 5.000%, 7/01/18 | No Opt. Call | A– | 887,308 | ||||||||||||
8,825 | Sikeston, Missouri, Electric System Revenue Refunding Bonds, Series 2012, 5.000%, 6/01/17 | No Opt. Call | BBB+ | 9,813,753 | ||||||||||||
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005: | ||||||||||||||||
8,155 | 5.500%, 7/01/17 – NPFG Insured | No Opt. Call | A | 9,463,470 | ||||||||||||
11,995 | 5.500%, 7/01/18 – NPFG Insured | No Opt. Call | A | 14,182,528 | ||||||||||||
5,020 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/14 – AGM Insured | No Opt. Call | AA– | 5,177,026 | ||||||||||||
51,335 | Total Missouri | 57,825,733 | ||||||||||||||
Nebraska – 0.6% | ||||||||||||||||
Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012: | ||||||||||||||||
375 | 4.000%, 6/15/15 | No Opt. Call | AA– | 396,071 | ||||||||||||
500 | 4.000%, 6/15/16 | No Opt. Call | AA– | 542,780 | ||||||||||||
750 | 4.000%, 6/15/17 | No Opt. Call | AA– | 831,030 | ||||||||||||
600 | 4.000%, 6/15/18 | No Opt. Call | AA– | 673,074 | ||||||||||||
800 | 5.000%, 6/15/19 | No Opt. Call | AA– | 940,088 |
Nuveen Investments | 119 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Nebraska (continued) | ||||||||||||||||
Lancaster County School District 1, Lincoln, Nebraska, General Obligation Bonds, Series 2009: | ||||||||||||||||
$ | 1,915 | 3.000%, 1/15/16 | No Opt. Call | AAA | $ | 2,022,585 | ||||||||||
3,475 | 3.000%, 1/15/17 | No Opt. Call | AAA | 3,733,575 | ||||||||||||
3,220 | 3.000%, 1/15/18 | No Opt. Call | AAA | 3,487,324 | ||||||||||||
2,520 | 3.000%, 1/15/19 | No Opt. Call | AAA | 2,724,448 | ||||||||||||
2,320 | Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 3.500%, 11/01/27 | No Opt. Call | A– | 2,051,715 | ||||||||||||
3,045 | Washington County, Nebraska, Wastewater and Solid Waste Disposal Facilities Revenue Bonds, Cargill Inc. Project, Variable Rate Demand Series 2012, 1.375%, 9/01/30 (Mandatory put 9/01/15) (Alternative Minimum Tax) | No Opt. Call | A | 3,060,773 | ||||||||||||
19,520 | Total Nebraska | 20,463,463 | ||||||||||||||
Nevada – 0.6% | ||||||||||||||||
Clark County, Nevada, Airport Revenue Bonds, Jet Aviation Fuel Tax, Refunding Series 2013A: | ||||||||||||||||
1,000 | 5.000%, 7/01/20 (Alternative Minimum Tax) | No Opt. Call | A | 1,131,630 | ||||||||||||
2,000 | 5.000%, 7/01/21 (Alternative Minimum Tax) | No Opt. Call | A | 2,240,880 | ||||||||||||
1,670 | Clark County, Nevada, Limited Tax General Obligation Bank Bonds, Series 2006, 5.000%, 11/01/21 – AMBAC Insured | 11/16 at 100.00 | AA+ | 1,870,283 | ||||||||||||
4,635 | Clark County, Nevada, Motor Vehicle Fuel Tax Highway Improvement Revenue Bonds, Refunding Series 2011, 5.000%, 7/01/14 | No Opt. Call | AA– | 4,782,022 | ||||||||||||
2,625 | Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Refunding Series 2010F-1, 5.000%, 7/01/15 | No Opt. Call | A+ | 2,817,176 | ||||||||||||
5,000 | Las Vegas Valley Water District, Nevada, Limited Tax General Obligation Bonds, Water & Refunding Series 2011C, 5.000%, 6/01/24 | 6/21 at 100.00 | AA+ | 5,647,700 | ||||||||||||
Las Vegas, Nevada, Special Improvement District 607 Providence, Local Improvement Refunding Bonds, Series 2013: | ||||||||||||||||
465 | 2.000%, 6/01/14 | No Opt. Call | N/R | 463,684 | ||||||||||||
330 | 3.000%, 6/01/16 | No Opt. Call | N/R | 326,604 | ||||||||||||
1,000 | 3.000%, 6/01/17 | No Opt. Call | N/R | 973,830 | ||||||||||||
190 | 4.000%, 6/01/18 | No Opt. Call | N/R | 189,713 | ||||||||||||
2,825 | Nevada, Motor Vehicle Fuel Tax Highway Improvement Revenue Bonds, Series 2005, 5.000%, 12/01/15 – FGIC Insured | No Opt. Call | AA+ | 3,094,279 | ||||||||||||
21,740 | Total Nevada | 23,537,801 | ||||||||||||||
New Hampshire – 0.1% | ||||||||||||||||
5,000 | New Hampshire Business Finance Authority, Pollution Control Revenue Bonds, United Illuminating Company, Series 2010A, 4.500%, 7/01/27 (Mandatory put 7/01/15) (Alternative Minimum Tax) | No Opt. Call | BBB | 5,227,750 | ||||||||||||
New Jersey – 6.3% | ||||||||||||||||
740 | Bayonne Redevelopment Agency, New Jersey, Revenue Bonds, Royal Caribbean Cruises Project, Series 2006A, 4.750%, 11/01/16 (Alternative Minimum Tax) | No Opt. Call | BB | 726,340 | ||||||||||||
2,435 | Camden County Improvement Authority, New Jersey, Healthcare Revenue Bonds, Cooper Health System, Series 2005B, 5.000%, 2/15/15 | No Opt. Call | BBB | 2,552,148 | ||||||||||||
1,500 | Camden County Improvement Authority, New Jersey, Revenue Bonds, Cooper Health System, Series 2005A, 5.000%, 2/15/15 | No Opt. Call | BBB | 1,572,165 | ||||||||||||
3,890 | Casino Reinvestment Development Authority, New Jersey, Parking Revenue Bonds, Series 2005A, 5.250%, 6/01/20 – NPFG Insured | 6/15 at 100.00 | A | 4,042,644 | ||||||||||||
3,205 | Mercer County, New Jersey, General Obligation Bonds, Series 2012, 2.000%, 2/01/16 | No Opt. Call | AA+ | 3,304,611 | ||||||||||||
Millville, New Jersey, General Obligation Bonds, Improvement Series 2011: | ||||||||||||||||
140 | 5.000%, 11/01/13 – AGM Insured | No Opt. Call | AA– | 140,000 | ||||||||||||
1,000 | 5.000%, 11/01/16 – AGM Insured | No Opt. Call | AA– | 1,120,860 | ||||||||||||
1,445 | 5.000%, 11/01/19 – AGM Insured | No Opt. Call | AA– | 1,675,622 | ||||||||||||
920 | 5.000%, 11/01/20 – AGM Insured | No Opt. Call | AA– | 1,060,134 | ||||||||||||
250 | Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2005, 5.000%, 12/01/14 – AMBAC Insured | No Opt. Call | N/R | 259,453 | ||||||||||||
345 | Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2007, 5.000%, 12/01/16 – AMBAC Insured | No Opt. Call | N/R | 383,057 |
120 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
New Jersey (continued) | ||||||||||||||||
$ | 5 | Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2007, 5.000%, 12/01/16 – AMBAC Insured (ETM) | No Opt. Call | N/R (4) | $ | 5,680 | ||||||||||
New Jersey Economic Development Authority, Cigarette Tax Revenue Bonds, Series 2004: | ||||||||||||||||
4,460 | 5.375%, 6/15/14 (ETM) | No Opt. Call | Aaa | 4,605,307 | ||||||||||||
650 | 5.375%, 6/15/15 (ETM) | No Opt. Call | Aaa | 703,684 | ||||||||||||
1,040 | 5.375%, 6/15/15 – RAAI Insured (ETM) | No Opt. Call | Aaa | 1,125,894 | ||||||||||||
1,430 | 5.500%, 6/15/16 (ETM) | No Opt. Call | Aaa | 1,616,944 | ||||||||||||
2,435 | 5.500%, 6/15/16 – RAAI Insured (ETM) | No Opt. Call | Aaa | 2,753,328 | ||||||||||||
New Jersey Economic Development Authority, Cigarette Tax Revenue Bonds, Series 2004: | ||||||||||||||||
3,740 | 5.750%, 6/15/29 (Pre-refunded 6/15/14) | 6/14 at 100.00 | Aaa | 3,870,601 | ||||||||||||
75 | 5.750%, 6/15/29 (Pre-refunded 6/15/14) – AGC Insured | 6/14 at 100.00 | Aaa | 77,619 | ||||||||||||
100 | 5.750%, 6/15/29 (Pre-refunded 6/15/14) – RAAI Insured | 6/14 at 100.00 | Aaa | 103,492 | ||||||||||||
1,505 | 5.500%, 6/15/31 (Pre-refunded 6/15/14) | 6/14 at 100.00 | Aaa | 1,555,207 | ||||||||||||
2,370 | 5.750%, 6/15/34 (Pre-refunded 6/15/14) | 6/14 at 100.00 | Aaa | 2,452,760 | ||||||||||||
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: | ||||||||||||||||
3,900 | 5.000%, 6/15/14 | No Opt. Call | BBB+ | 4,001,868 | ||||||||||||
3,720 | 5.000%, 6/15/15 | No Opt. Call | BBB+ | 3,947,478 | ||||||||||||
3,920 | 5.000%, 6/15/16 | No Opt. Call | BBB+ | 4,279,150 | ||||||||||||
6,265 | 5.000%, 6/15/17 | No Opt. Call | BBB+ | 6,962,984 | ||||||||||||
8,510 | 5.000%, 6/15/18 | No Opt. Call | BBB+ | 9,551,709 | ||||||||||||
5,250 | 5.000%, 6/15/19 | No Opt. Call | BBB+ | 5,897,588 | ||||||||||||
245 | 4.000%, 6/15/19 | No Opt. Call | BBB+ | 262,228 | ||||||||||||
5,190 | 5.000%, 6/15/20 | No Opt. Call | BBB+ | 5,785,656 | ||||||||||||
7,410 | 5.000%, 6/15/21 | No Opt. Call | BBB+ | 8,196,720 | ||||||||||||
250 | 5.000%, 6/15/22 | No Opt. Call | BBB+ | 274,625 | ||||||||||||
475 | 5.000%, 6/15/22 | No Opt. Call | AA– | 539,838 | ||||||||||||
7,945 | 5.000%, 6/15/25 | 6/22 at 100.00 | BBB+ | 8,356,154 | ||||||||||||
6,000 | 5.000%, 6/15/26 | 6/22 at 100.00 | BBB+ | 6,231,540 | ||||||||||||
685 | 4.250%, 6/15/27 | 6/22 at 100.00 | BBB+ | 643,749 | ||||||||||||
2,325 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005P, 5.000%, 9/01/14 | No Opt. Call | A+ | 2,418,442 | ||||||||||||
4,890 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2011GG, 5.000%, 9/01/20 | No Opt. Call | A+ | 5,708,977 | ||||||||||||
3,710 | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund, Series 2004A, 5.250%, 9/01/14 – AGM Insured | No Opt. Call | AA– | 3,863,817 | ||||||||||||
3,635 | New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University Issue, Series 2007A, 5.250%, 7/01/21 – NPFG Insured | No Opt. Call | AA– | 4,013,803 | ||||||||||||
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011: | ||||||||||||||||
4,060 | 5.000%, 7/01/18 | No Opt. Call | BB+ | 4,182,247 | ||||||||||||
4,260 | 5.000%, 7/01/19 | No Opt. Call | BB+ | 4,375,957 | ||||||||||||
410 | New Jersey Highway Authority, Senior Revenue Bonds, Garden State Parkway, Series 1989, 6.000%, 1/01/19 – NPFG Insured (ETM) | No Opt. Call | Aaa | 491,356 | ||||||||||||
1,400 | New Jersey Transit Corporation, Certificates of Participation Refunding, Series 2003, 5.500%, 10/01/14 – AGM Insured | No Opt. Call | AA– | 1,463,994 | ||||||||||||
5,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2005C, 5.250%, 6/15/15 – NPFG Insured (ETM) | No Opt. Call | Aaa | 5,403,700 | ||||||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D: | ||||||||||||||||
5,390 | 5.000%, 12/15/17 | No Opt. Call | A+ | 6,232,511 | ||||||||||||
9,750 | 5.000%, 12/15/18 | No Opt. Call | A+ | 11,427,293 | ||||||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B: | ||||||||||||||||
2,000 | 5.000%, 6/15/14 | No Opt. Call | A+ | 2,060,300 | ||||||||||||
1,500 | 5.000%, 6/15/15 | No Opt. Call | A+ | 1,612,680 | ||||||||||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012AA: | ||||||||||||||||
11,500 | 5.000%, 6/15/19 | No Opt. Call | A+ | 13,396,695 | ||||||||||||
13,675 | 5.000%, 6/15/20 | No Opt. Call | A+ | 15,884,196 | ||||||||||||
65 | New Jersey Turnpike Authority, Revenue Bonds, Series 1984, 7.000%, 1/01/14 (ETM) | No Opt. Call | AA+ (4) | 65,744 |
Nuveen Investments | 121 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
New Jersey (continued) | ||||||||||||||||
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C: | ||||||||||||||||
$ | 2,245 | 6.500%, 1/01/16 | No Opt. Call | A3 | $ | 2,528,903 | ||||||||||
5 | 6.500%, 1/01/16 – AMBAC Insured | No Opt. Call | A3 | 5,632 | ||||||||||||
805 | 6.500%, 1/01/16 – NPFG Insured | No Opt. Call | A+ | 906,800 | ||||||||||||
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C: | ||||||||||||||||
1,425 | 6.500%, 1/01/16 (ETM) | No Opt. Call | A3 (4) | 1,612,487 | ||||||||||||
10 | 6.500%, 1/01/16 – AMBAC Insured (ETM) | No Opt. Call | A3 (4) | 11,316 | ||||||||||||
460 | 6.500%, 1/01/16 – NPFG Insured (ETM) | No Opt. Call | A (4) | 520,522 | ||||||||||||
120 | 6.500%, 1/01/16 (ETM) | No Opt. Call | AA+ (4) | 135,788 | ||||||||||||
245 | 6.500%, 1/01/16 – NPFG Insured (ETM) | No Opt. Call | A+ (4) | 277,235 | ||||||||||||
1,925 | 6.500%, 1/01/16 – AGM Insured (ETM) | No Opt. Call | AA– (4) | 2,130,032 | ||||||||||||
1,870 | 6.500%, 1/01/16 (ETM) | No Opt. Call | AA+ (4) | 2,069,174 | ||||||||||||
85 | 6.500%, 1/01/16 – AMBAC Insured (ETM) | No Opt. Call | A3 (4) | 94,053 | ||||||||||||
2,150 | 6.500%, 1/01/16 – NPFG Insured (ETM) | No Opt. Call | A+ (4) | 2,378,997 | ||||||||||||
235 | New Jersey Turnpike Authority, Revenue Bonds, Series 2000A, 6.000%, 1/01/14 – NPFG Insured (ETM) | No Opt. Call | A+ (4) | 237,301 | ||||||||||||
5,945 | New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/19 | No Opt. Call | A+ | 6,959,455 | ||||||||||||
205 | New Jersey Turnpike Authority, Revenue Refunding Bonds, First Series 1977, 6.000%, 1/01/14 (ETM) | 12/13 at 100.00 | Aaa | 207,007 | ||||||||||||
1,125 | Parsippany-Troy Hills Township, New Jersey, General Obligation Bonds, Refunding Series 2012, 4.000%, 7/15/20 | No Opt. Call | AA | 1,256,321 | ||||||||||||
1,700 | Passaic Valley Sewage Commissioners, New Jersey, Sewer Revenue Bonds, Series 2010G, 5.750%, 12/01/22 | No Opt. Call | A2 | 2,038,555 | ||||||||||||
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Refunding Bonds, Series 2012Q: | ||||||||||||||||
4,340 | 3.000%, 1/01/18 | No Opt. Call | A1 | 4,598,317 | ||||||||||||
4,850 | 3.000%, 1/01/19 | No Opt. Call | A1 | 5,084,449 | ||||||||||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, | ||||||||||||||||
4,160 | 5.000%, 6/01/14 | No Opt. Call | A1 | 4,238,291 | ||||||||||||
5,660 | 5.000%, 6/01/15 | No Opt. Call | A1 | 5,927,775 | ||||||||||||
95 | 5.000%, 6/01/17 | No Opt. Call | A2 | 103,910 | ||||||||||||
5,525 | 4.500%, 6/01/23 | 6/17 at 100.00 | B1 | 5,130,294 | ||||||||||||
1,065 | 4.625%, 6/01/26 | 6/17 at 100.00 | B1 | 919,883 | ||||||||||||
213,265 | Total New Jersey | 232,613,046 | ||||||||||||||
New Mexico – 0.1% | ||||||||||||||||
2,720 | Clayton, New Mexico, Appropriation Debt, Jail Project, Series 2006, 5.000%, 11/01/13 – CIFG Insured | No Opt. Call | BBB+ | 2,720,000 | ||||||||||||
New York – 10.0% | ||||||||||||||||
500 | Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore Hospital, Series 2004, 5.000%, 2/01/19 – FGIC Insured | 2/15 at 100.00 | A | 524,660 | ||||||||||||
1,585 | Dormitory Authority of the State of New York, Mental Health Services Facilities Improvement Revenue Bonds, Series 2010A, 5.000%, 8/15/19 | No Opt. Call | AA– | 1,870,712 | ||||||||||||
5 | Dormitory Authority of the State of New York, Mental Health Services Facilities Improvement Revenue Bonds, Series 2010A, 5.000%, 8/15/19 (ETM) | No Opt. Call | N/R (4) | 6,005 | ||||||||||||
1,250 | Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer Center, Series 2012-1, 5.000%, 7/01/23 | 1/22 at 100.00 | AA | 1,434,263 | ||||||||||||
12,195 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A, 5.000%, 12/15/21 | No Opt. Call | AAA | 14,550,952 | ||||||||||||
5 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A, 5.000%, 12/15/21 (ETM) | No Opt. Call | N/R (4) | 6,050 | ||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A: | ||||||||||||||||
680 | 0.000%, 6/01/16 – AGM Insured | No Opt. Call | AA– | 661,613 | ||||||||||||
245 | 0.000%, 6/01/19 – AGM Insured | No Opt. Call | AA– | 217,460 | ||||||||||||
375 | 0.000%, 6/01/21 – AGM Insured | No Opt. Call | AA– | 304,151 | ||||||||||||
430 | 0.000%, 6/01/22 – AGM Insured | No Opt. Call | AA– | 332,743 | ||||||||||||
1,095 | 0.000%, 6/01/23 – AGM Insured | No Opt. Call | AA– | 805,679 | ||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2003B: | ||||||||||||||||
115 | 5.250%, 6/01/14 | No Opt. Call | A– | 118,156 | ||||||||||||
2,380 | 5.250%, 12/01/14 | No Opt. Call | A– | 2,496,715 |
122 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
New York (continued) | ||||||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: | ||||||||||||||||
$ | 5,845 | 5.000%, 12/01/16 – AGM Insured | 6/16 at 100.00 | AA– | $ | 6,448,379 | ||||||||||
775 | 4.250%, 12/01/16 – AGM Insured | No Opt. Call | AA– | 840,209 | ||||||||||||
870 | 4.000%, 12/01/16 – AGM Insured | No Opt. Call | AA– | 937,660 | ||||||||||||
3,995 | 5.000%, 12/01/19 – FGIC Insured | 6/16 at 100.00 | A | 4,356,667 | ||||||||||||
795 | 5.250%, 12/01/20 – FGIC Insured | 6/16 at 100.00 | A | 865,850 | ||||||||||||
240 | 5.000%, 12/01/25 – FGIC Insured | 6/16 at 100.00 | A | 260,134 | ||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006D: | ||||||||||||||||
595 | 5.000%, 9/01/17 – NPFG Insured | 9/16 at 100.00 | A | 657,784 | ||||||||||||
85 | 5.000%, 9/01/20 – NPFG Insured | 9/16 at 100.00 | A | 92,851 | ||||||||||||
320 | 5.000%, 9/01/23 – NPFG Insured | 9/16 at 100.00 | A | 347,053 | ||||||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006E: | ||||||||||||||||
3,755 | 5.000%, 12/01/17 – FGIC Insured | 12/16 at 100.00 | A | 4,184,685 | ||||||||||||
2,120 | 5.000%, 12/01/17 | 12/16 at 100.00 | A– | 2,358,500 | ||||||||||||
2,120 | 5.000%, 12/01/18 – FGIC Insured | 12/16 at 100.00 | A | 2,342,727 | ||||||||||||
12,740 | 5.000%, 12/01/18 – NPFG Insured | 12/16 at 100.00 | A | 14,078,464 | ||||||||||||
150 | 5.000%, 12/01/20 – NPFG Insured | 12/16 at 100.00 | A | 164,853 | ||||||||||||
690 | 5.000%, 12/01/21 – FGIC Insured | 12/16 at 100.00 | A | 757,013 | ||||||||||||
585 | 5.000%, 12/01/21 – NPFG Insured | 12/16 at 100.00 | A | 641,815 | ||||||||||||
715 | 5.000%, 12/01/21 – AGM Insured | 12/16 at 100.00 | AA– | 788,981 | ||||||||||||
4,245 | 5.000%, 12/01/22 – FGIC Insured | 12/16 at 100.00 | A | 4,642,544 | ||||||||||||
155 | 5.000%, 12/01/22 | 12/16 at 100.00 | A– | 169,516 | ||||||||||||
10 | 4.125%, 12/01/22 – FGIC Insured | 12/16 at 100.00 | A | 10,343 | ||||||||||||
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
450 | 5.000%, 4/01/18 | No Opt. Call | A– | 510,417 | ||||||||||||
3,370 | 5.000%, 4/01/19 | No Opt. Call | A– | 3,838,329 | ||||||||||||
1,250 | 5.500%, 4/01/22 | 4/19 at 100.00 | A– | 1,406,913 | ||||||||||||
2,440 | Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2010A, 5.000%, 5/01/14 | No Opt. Call | A– | 2,494,705 | ||||||||||||
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2006F: | ||||||||||||||||
2,315 | 5.000%, 5/01/15 – NPFG Insured | No Opt. Call | A | 2,453,669 | ||||||||||||
790 | 5.000%, 5/01/16 – NPFG Insured | No Opt. Call | A | 865,090 | ||||||||||||
8,640 | 5.000%, 5/01/17 – NPFG Insured | No Opt. Call | A | 9,665,568 | ||||||||||||
2,840 | 5.000%, 5/01/18 – NPFG Insured | 11/16 at 100.00 | A | 3,131,696 | ||||||||||||
600 | 5.000%, 5/01/19 – NPFG Insured | 11/16 at 100.00 | A | 660,702 | ||||||||||||
1,100 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/16 | No Opt. Call | A– | 1,204,555 | ||||||||||||
1,000 | Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012B, 5.000%, 9/01/21 | No Opt. Call | A– | 1,126,000 | ||||||||||||
5,500 | Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding Series 2012A, 5.000%, 11/15/20 | No Opt. Call | AA | 6,540,600 | ||||||||||||
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012-B2: | ||||||||||||||||
3,985 | 5.000%, 11/15/21 | No Opt. Call | A | 4,641,449 | ||||||||||||
2,000 | 5.000%, 11/15/22 | No Opt. Call | A | 2,318,700 | ||||||||||||
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012H: | ||||||||||||||||
5,135 | 5.000%, 11/15/20 | No Opt. Call | A | 6,014,934 | ||||||||||||
3,090 | 4.000%, 11/15/21 | No Opt. Call | A | 3,377,123 | ||||||||||||
5,790 | 4.000%, 11/15/22 | No Opt. Call | A | 6,247,236 | ||||||||||||
1,500 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005C, 5.250%, 11/15/14 | No Opt. Call | A | 1,578,540 | ||||||||||||
Monroe County, New York, General Obligation Bonds, Refunding Series 2012: | ||||||||||||||||
1,500 | 5.000%, 3/01/14 | No Opt. Call | A | 1,523,550 | ||||||||||||
1,000 | 5.000%, 3/01/15 | No Opt. Call | A | 1,055,270 | ||||||||||||
8,425 | New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Fiscal Series 2005B, 5.000%, 6/15/20 (Pre-refunded 12/15/14) – AMBAC Insured | 12/14 at 100.00 | Aa1 (4) | 8,881,888 | ||||||||||||
3,040 | New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Fiscal Series 2005B, 5.000%, 6/15/20 – AMBAC Insured | 12/14 at 100.00 | AAA | 3,196,986 | ||||||||||||
10,085 | New York City, New York, General Obligation Bonds, Fiscal 2010 Series C, 5.000%, 8/01/17 | No Opt. Call | AA | 11,645,351 | ||||||||||||
10,000 | New York City, New York, General Obligation Bonds, Fiscal 2012 Series I, 5.000%, 8/01/14 | No Opt. Call | AA | 10,362,500 | ||||||||||||
7,200 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 1997C, 5.000%, 8/01/32 (Mandatory put 8/01/16) – NPFG Insured | No Opt. Call | A | 7,831,152 |
Nuveen Investments | 123 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
New York (continued) | ||||||||||||||||
$ | 2,000 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004A, 4.750%, 5/15/32 (Mandatory put 7/01/16) – NPFG Insured | No Opt. Call | A | $ | 2,158,080 | ||||||||||
2,000 | New York State Environmental Facilities Corporation, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Refunding Series 2013, 2.750%, 7/01/17 | No Opt. Call | BBB | 2,031,800 | ||||||||||||
2,460 | New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B, 5.000%, 4/01/19 – AMBAC Insured | 10/15 at 100.00 | AA | 2,671,634 | ||||||||||||
New York State Thruway Authority, Local Highway and Bridge Service Contract Bonds, Series 2009: | ||||||||||||||||
5,000 | 4.000%, 4/01/16 | No Opt. Call | AA– | 5,420,150 | ||||||||||||
5,000 | 4.000%, 4/01/17 | No Opt. Call | AA– | 5,556,200 | ||||||||||||
6,845 | 5.000%, 4/01/18 | No Opt. Call | AA– | 8,020,423 | ||||||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1C: | ||||||||||||||||
1,190 | 5.250%, 6/01/20 – AMBAC Insured | 12/13 at 100.00 | AA– | 1,195,188 | ||||||||||||
820 | 5.250%, 6/01/21 – AMBAC Insured | 12/13 at 100.00 | AA– | 823,452 | ||||||||||||
110 | 5.250%, 6/01/21 – AMBAC Insured | 12/13 at 100.00 | AA+ | 110,459 | ||||||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1: | ||||||||||||||||
4,585 | 5.500%, 6/01/19 | 12/13 at 100.00 | AA– | 4,599,030 | ||||||||||||
1,875 | 5.250%, 6/01/20 – AMBAC Insured | 12/13 at 100.00 | AA– | 1,889,231 | ||||||||||||
11,245 | 5.250%, 6/01/21 – AMBAC Insured | 12/13 at 100.00 | AA– | 11,279,297 | ||||||||||||
9,410 | 5.250%, 6/01/22 – AMBAC Insured | 12/13 at 100.00 | AA– | 9,438,701 | ||||||||||||
640 | New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/20 – FGIC Insured | 12/13 at 100.00 | AA | 641,715 | ||||||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C: | ||||||||||||||||
3,220 | 5.500%, 6/01/19 | 12/13 at 100.00 | AA– | 3,247,917 | ||||||||||||
10,070 | 5.500%, 6/01/20 | 12/13 at 100.00 | AA– | 10,114,409 | ||||||||||||
14,020 | 5.500%, 6/01/21 | 12/13 at 100.00 | AA– | 14,082,810 | ||||||||||||
5,205 | 5.500%, 6/01/22 | 12/13 at 100.00 | AA– | 5,227,746 | ||||||||||||
10,000 | New York State Urban Development Corporation, Service Contract Revenue Bonds, Refunding Series 2010A, 5.000%, 1/01/17 | No Opt. Call | AA– | 11,293,800 | ||||||||||||
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2009A-1: | ||||||||||||||||
3,105 | 5.000%, 12/15/16 | No Opt. Call | AAA | 3,532,993 | ||||||||||||
1,000 | 5.000%, 12/15/17 | No Opt. Call | AAA | 1,169,630 | ||||||||||||
8,085 | New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2009C, 5.000%, 12/15/18 | No Opt. Call | AAA | 9,647,345 | ||||||||||||
North Babylon Union Free School District, Suffolk County, New York, General Obligation Bonds, Refunding Series 2013: | ||||||||||||||||
3,080 | 3.000%, 1/15/14 | No Opt. Call | Aa3 | 3,097,741 | ||||||||||||
3,080 | 3.000%, 1/15/15 | No Opt. Call | Aa3 | 3,180,285 | ||||||||||||
Tobacco Settlement Financing Corporation, New York, Asset-Backed Revenue Bonds, State Contingency Contract Secured, Series 2011B: | ||||||||||||||||
7,800 | 5.000%, 6/01/15 | No Opt. Call | AA– | 8,372,754 | ||||||||||||
5,500 | 5.000%, 6/01/16 | No Opt. Call | AA– | 6,110,500 | ||||||||||||
4,100 | 5.000%, 6/01/17 | No Opt. Call | AA– | 4,684,332 | ||||||||||||
2,800 | 5.000%, 6/01/18 | No Opt. Call | AA– | 3,259,788 | ||||||||||||
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2012B: | ||||||||||||||||
16,120 | 4.000%, 11/15/20 | No Opt. Call | AA– | 18,232,848 | ||||||||||||
18,685 | 4.000%, 11/15/21 | No Opt. Call | AA– | 20,897,117 | ||||||||||||
5,150 | Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2013B, 4.000%, 11/15/19 | No Opt. Call | AA– | 5,860,855 | ||||||||||||
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: | ||||||||||||||||
1,740 | 4.750%, 6/01/22 | 6/16 at 100.00 | BBB– | 1,696,831 | ||||||||||||
3,000 | 5.000%, 6/01/26 | 6/16 at 100.00 | BB– | 2,638,260 | ||||||||||||
Yonkers, New York, General Obligation Bonds, Series 2012C: | ||||||||||||||||
2,440 | 3.000%, 8/15/22 | No Opt. Call | BBB+ | 2,379,512 | ||||||||||||
2,510 | 3.000%, 8/15/23 | No Opt. Call | BBB+ | 2,384,952 | ||||||||||||
338,600 | Total New York | 367,795,895 |
124 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
North Carolina – 1.3% | ||||||||||||||||
Fayetteville Public Works Commission, North Carolina, Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
$ | 3,000 | 5.000%, 3/01/16 | No Opt. Call | AA | $ | 3,313,290 | ||||||||||
2,010 | 5.000%, 3/01/17 | No Opt. Call | AA | 2,291,963 | ||||||||||||
2,075 | 5.000%, 3/01/18 | No Opt. Call | AA | 2,422,044 | ||||||||||||
Mecklenburg County Public Facilities Corporation, North Carolina, Limited Obligation Bonds, Refunding Series 2009: | ||||||||||||||||
5,500 | 5.000%, 3/01/16 | No Opt. Call | AA+ | 6,086,575 | ||||||||||||
3,025 | 5.000%, 3/01/18 | No Opt. Call | AA+ | 3,540,763 | ||||||||||||
New Hanover County, North Carolina, General Obligation Bonds, School Series 2009: | ||||||||||||||||
1,500 | 3.000%, 6/01/14 | No Opt. Call | AAA | 1,525,095 | ||||||||||||
1,500 | 3.000%, 6/01/15 | No Opt. Call | AAA | 1,565,550 | ||||||||||||
1,500 | 3.000%, 6/01/16 | No Opt. Call | AAA | 1,599,915 | ||||||||||||
765 | 3.000%, 6/01/17 | No Opt. Call | AAA | 828,916 | ||||||||||||
North Carolina Medical Care Commission, Hospital Revenue Bonds, CaroMont Health, Series 2008: | ||||||||||||||||
2,665 | 3.000%, 2/15/15 – AGC Insured | No Opt. Call | AA– | 2,742,711 | ||||||||||||
3,290 | 3.500%, 2/15/16 – AGC Insured | No Opt. Call | AA– | 3,483,353 | ||||||||||||
2,760 | 4.000%, 2/15/17 – AGC Insured | No Opt. Call | AA– | 3,013,396 | ||||||||||||
2,050 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2012A, 5.000%, 1/01/19 | No Opt. Call | A | 2,384,314 | ||||||||||||
North Carolina State, Capital Improvement Limited Obligation Bonds, Series 2009A: | ||||||||||||||||
1,000 | 5.000%, 5/01/19 | No Opt. Call | AA+ | 1,185,900 | ||||||||||||
5,195 | 5.000%, 5/01/20 | 5/19 at 100.00 | AA+ | 6,030,044 | ||||||||||||
3,540 | 5.000%, 5/01/21 | 5/19 at 100.00 | AA+ | 4,095,001 | ||||||||||||
500 | University of North Carolina System, Pooled Revenue Bonds, East Carolina University, Series 2011A, 3.000%, 5/01/14 | No Opt. Call | Aa2 | 506,805 | ||||||||||||
Wilmington, North Carolina, Limited Obligation Bonds, Refunding Series 2012: | ||||||||||||||||
350 | 2.000%, 6/01/14 – AGM Insured | No Opt. Call | AA | 353,689 | ||||||||||||
420 | 3.000%, 6/01/15 – AGM Insured | No Opt. Call | AA | 437,615 | ||||||||||||
855 | 4.000%, 6/01/17 – AGM Insured | No Opt. Call | AA | 949,597 | ||||||||||||
800 | 4.000%, 6/01/18 – AGM Insured | No Opt. Call | AA | 900,824 | ||||||||||||
44,300 | Total North Carolina | 49,257,360 | ||||||||||||||
North Dakota – 0.5% | ||||||||||||||||
800 | Fargo Public School District 1, County, North Dakota, General Obligation Bonds, Limited Tax School Building Series 2008, 4.000%, 5/01/14 | No Opt. Call | Aa3 | 814,976 | ||||||||||||
5,325 | Grand Forks, North Dakota, Healthcare System Revenue Bonds, Altru Health System, Series 2007, 5.500%, 12/01/17 | No Opt. Call | A– | 6,006,440 | ||||||||||||
1,000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2006, 5.125%, 7/01/18 | 7/16 at 100.00 | BBB– | 1,056,940 | ||||||||||||
1,130 | West Fargo, North Dakota, General Obligation Bonds, Refunding & Improvement Series 2012C, 3.000%, 5/01/17 | No Opt. Call | Aa3 | 1,205,303 | ||||||||||||
2,835 | Williston, North Dakota, Limited Obligation Bonds, Certificates of Indebtedness, Series 2013A, 2.500%, 11/01/15 | 11/14 at 100.00 | N/R | 2,851,812 | ||||||||||||
6,035 | Williston, North Dakota, Sales Tax Revenue Bonds, Series 2013A, 4.000%, 5/01/20 – AGM Insured | 5/17 at 100.00 | AA– | 6,395,591 | ||||||||||||
17,125 | Total North Dakota | 18,331,062 | ||||||||||||||
Ohio – 3.9% | ||||||||||||||||
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children’s Hospital Medical Center, Improvement & Refunding Series 2012: | ||||||||||||||||
2,000 | 5.000%, 11/15/21 | No Opt. Call | A1 | 2,257,740 | ||||||||||||
2,655 | 5.000%, 11/15/22 | 5/22 at 100.00 | A1 | 2,966,219 | ||||||||||||
Akron, Ohio, Waterworks System Mortgage Revenue Improvement and Refunding Bonds, Series 2009: | ||||||||||||||||
2,220 | 5.000%, 3/01/15 – AGC Insured | No Opt. Call | A3 | 2,354,377 | ||||||||||||
2,650 | 5.000%, 3/01/17 – AGC Insured | No Opt. Call | A3 | 2,998,290 | ||||||||||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-1: | ||||||||||||||||
5,825 | 5.000%, 6/01/14 | No Opt. Call | A1 | 5,934,627 | ||||||||||||
9,515 | 5.000%, 6/01/15 | No Opt. Call | A1 | 9,965,155 | ||||||||||||
6,630 | 5.000%, 6/01/16 | No Opt. Call | A1 | 7,115,979 | ||||||||||||
3,415 | 5.000%, 6/01/17 | No Opt. Call | Baa1 | 3,735,293 |
Nuveen Investments | 125 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Ohio (continued) | ||||||||||||||||
$ | 14,965 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.125%, 6/01/24 | 6/17 at 100.00 | B– | $ | 12,790,586 | ||||||||||
3,220 | Cleveland, Ohio, Airport System Revenue Bonds, Series 2009C, 5.000%, 1/01/18 – AGM Insured | No Opt. Call | AA– | 3,642,850 | ||||||||||||
Cleveland, Ohio, General Obligation Bonds, Series 2011: | ||||||||||||||||
1,470 | 5.000%, 12/01/19 | No Opt. Call | AA | 1,709,478 | ||||||||||||
1,540 | 5.000%, 12/01/20 | 12/19 at 100.00 | AA | 1,754,953 | ||||||||||||
1,620 | 5.000%, 12/01/21 | 12/19 at 100.00 | AA | 1,812,893 | ||||||||||||
Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013: | ||||||||||||||||
510 | 3.000%, 6/15/14 | No Opt. Call | Baa2 | 517,609 | ||||||||||||
500 | 4.000%, 6/15/17 | No Opt. Call | Baa2 | 536,045 | ||||||||||||
1,015 | 5.000%, 6/15/19 | No Opt. Call | Baa2 | 1,126,467 | ||||||||||||
1,000 | 5.000%, 6/15/21 | No Opt. Call | Baa2 | 1,089,440 | ||||||||||||
2,175 | Marysville, Union County, Ohio, General Obligation Bonds, Refunding Series 2007, 5.000%, 12/01/20 – AMBAC Insured | No Opt. Call | Aa3 | 2,528,394 | ||||||||||||
Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013: | ||||||||||||||||
1,000 | 5.000%, 2/15/16 | No Opt. Call | BB+ | 1,029,440 | ||||||||||||
1,630 | 5.000%, 2/15/18 | No Opt. Call | BB+ | 1,679,308 | ||||||||||||
1,000 | 5.000%, 2/15/19 | No Opt. Call | BB+ | 1,025,600 | ||||||||||||
270 | 5.000%, 2/15/20 | No Opt. Call | BB+ | 275,065 | ||||||||||||
2,000 | 5.000%, 2/15/21 | No Opt. Call | BB+ | 2,007,120 | ||||||||||||
2,000 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/17 | No Opt. Call | BB+ | 2,065,300 | ||||||||||||
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C: | ||||||||||||||||
730 | 3.000%, 10/01/15 | No Opt. Call | A1 | 759,237 | ||||||||||||
765 | 3.000%, 10/01/16 | No Opt. Call | A1 | 806,715 | ||||||||||||
1,100 | 4.000%, 10/01/17 | No Opt. Call | A1 | 1,200,045 | ||||||||||||
5,650 | Ohio Air Quality Development Authority, Air Quality Revenue Refunding Bonds, Columbus Southern Power Company Project, Series 2009A, 3.875%, 12/01/38 (Mandatory put 6/01/14) | No Opt. Call | Baa1 | 5,736,558 | ||||||||||||
4,000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19 | No Opt. Call | BBB– | 4,380,080 | ||||||||||||
180 | Ohio State, General Obligation Bonds, Infrastructure Improvement Series 2012A, 4.000%, 2/01/14 | No Opt. Call | AA+ | 181,753 | ||||||||||||
6,685 | Ohio State, General Obligation Bonds, Infrastructure Improvement Series 2013B, 5.000%, 8/01/21 | No Opt. Call | AA+ | 8,024,206 | ||||||||||||
6,450 | Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011A, 5.000%, 9/15/21 | No Opt. Call | AA+ | 7,748,127 | ||||||||||||
12,625 | Ohio State, General Obligation Bonds, Refunding Common Schools Series 2011C, 5.000%, 9/15/20 | No Opt. Call | AA+ | 15,154,419 | ||||||||||||
1,000 | Ohio State, General Obligation Bonds, Refunding Common Schools Series 2012A, 5.000%, 9/15/18 | No Opt. Call | AA+ | 1,184,840 | ||||||||||||
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated Group, Series 2009B: | ||||||||||||||||
820 | 5.000%, 1/01/17 | No Opt. Call | Aa2 | 925,542 | ||||||||||||
500 | 5.000%, 1/01/18 | No Opt. Call | Aa2 | 577,650 | ||||||||||||
95 | Ohio Water Development Authority, Loan Revenue Bonds, Pure Water Development, Series 1990I, 6.000%, 12/01/16 – AMBAC Insured (ETM) | No Opt. Call | Aaa | 102,008 | ||||||||||||
10,715 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 2.200%, 6/01/33 (Mandatory put 6/01/16) | No Opt. Call | BBB– | 10,637,852 | ||||||||||||
2,000 | Ohio Water Development Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004, 2.250%, 7/01/21 (Mandatory put 7/01/16) | No Opt. Call | BBB | 2,018,880 | ||||||||||||
4,540 | Ohio, State Appropriation Lease Bonds, Mental Health Capital Facilities, Refunding Series 2012A, | No Opt. Call | AA | 5,150,494 | ||||||||||||
Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012: | ||||||||||||||||
2,145 | 5.000%, 12/01/15 | No Opt. Call | N/R | 2,195,579 | ||||||||||||
2,265 | 5.000%, 12/01/16 | No Opt. Call | N/R | 2,323,731 | ||||||||||||
2,230 | University of Toledo, Ohio, General Receipts Bonds, Series 2009, 4.000%, 6/01/18 | No Opt. Call | A+ | 2,485,670 |
126 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Ohio (continued) | ||||||||||||||||
$ | 1,000 | Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc., Series 2007A, 6.100%, 7/01/17 (Alternative Minimum Tax) (5) | No Opt. Call | N/R | $ | 33,100 | ||||||||||
136,320 | Total Ohio | 144,544,714 | ||||||||||||||
Oklahoma – 1.4% | ||||||||||||||||
Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2012: | ||||||||||||||||
1,395 | 4.000%, 9/01/18 | No Opt. Call | A+ | 1,540,038 | ||||||||||||
1,435 | 4.000%, 9/01/19 | No Opt. Call | A+ | 1,568,225 | ||||||||||||
2,685 | 4.500%, 9/01/20 | No Opt. Call | A+ | 2,992,271 | ||||||||||||
4,500 | Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2013, 5.000%, 6/01/18 | No Opt. Call | A | 5,146,245 | ||||||||||||
4,845 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Norman Public Schools Project, Series 2010, 4.000%, 6/01/14 | No Opt. Call | A+ | 4,947,908 | ||||||||||||
Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Midwest City-Del City Public Schools Project, Series 2012: | ||||||||||||||||
750 | 2.000%, 3/01/14 | No Opt. Call | A+ | 754,193 | ||||||||||||
5,000 | 3.000%, 3/01/17 | No Opt. Call | A+ | 5,295,300 | ||||||||||||
2,820 | 4.000%, 3/01/18 | No Opt. Call | A+ | 3,115,028 | ||||||||||||
3,530 | Tulsa, Oklahoma, Industrial Authority, Revenue and Refunding Bonds (The University of Tulsa), Series 1996A, 6.000%, 10/01/16 – NPFG Insured | No Opt. Call | A | 3,712,466 | ||||||||||||
Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2009A: | ||||||||||||||||
1,000 | 4.000%, 6/01/15 | No Opt. Call | A3 | 1,045,590 | ||||||||||||
1,200 | 4.500%, 6/01/16 | 6/15 at 100.00 | A3 | 1,260,444 | ||||||||||||
8,505 | Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Tulsa International Airport, Series 1997B, 7.050%, 6/01/17 – NPFG Insured (ETM) | No Opt. Call | A (4) | 9,405,084 | ||||||||||||
7,425 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2011, 5.000%, 9/01/19 | No Opt. Call | AA– | 8,664,678 | ||||||||||||
1,250 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2012, 4.000%, 9/01/22 | No Opt. Call | AA– | 1,331,988 | ||||||||||||
46,340 | Total Oklahoma | 50,779,458 | ||||||||||||||
Oregon – 0.7% | ||||||||||||||||
2,575 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Refunding Bonds, Series 2012B, 4.000%, 6/15/22 | No Opt. Call | AA+ | 2,878,670 | ||||||||||||
1,000 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A, 5.000%, 11/15/22 | 5/19 at 100.00 | AAA | 1,138,480 | ||||||||||||
Portland Community College District, Multnomah County, Oregon, General Obligation Bonds, Series 2013: | ||||||||||||||||
3,795 | 5.000%, 6/15/14 | No Opt. Call | Aa1 | 3,910,102 | ||||||||||||
5,655 | 5.000%, 6/15/15 | No Opt. Call | Aa1 | 6,091,679 | ||||||||||||
2,000 | Tri-County Metropolitan Transportation District, Oregon, Capital Grant Receipt Revenue Bonds, Series 2011A, 5.000%, 10/01/18 | No Opt. Call | A | 2,342,480 | ||||||||||||
10,450 | Tri-County Metropolitan Transportation District, Oregon, Revenue Bonds, Payroll Tax and Grant Receipt Series 2013, 3.000%, 11/01/16 | 5/15 at 100.00 | Aa3 | 10,831,530 | ||||||||||||
25,475 | Total Oregon | 27,192,941 | ||||||||||||||
Pennsylvania – 6.5% | ||||||||||||||||
385 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Duquesne University, Series 2013A, 3.000%, 3/01/15 | No Opt. Call | A2 | 398,625 | ||||||||||||
1,480 | Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Robert Morris University, Series 2006A, 4.375%, 2/15/14 | No Opt. Call | Baa3 | 1,484,632 | ||||||||||||
Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Jefferson Regional Medical Center, Series 2006B: | ||||||||||||||||
1,865 | 5.000%, 5/01/14 | No Opt. Call | Baa2 | 1,889,506 | ||||||||||||
1,985 | 5.000%, 5/01/15 | No Opt. Call | Baa2 | 2,057,075 | ||||||||||||
1,620 | 5.000%, 5/01/16 | No Opt. Call | Baa2 | 1,701,275 | ||||||||||||
1,285 | 5.000%, 5/01/18 | 5/16 at 100.00 | Baa2 | 1,327,174 |
Nuveen Investments | 127 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Pennsylvania (continued) | ||||||||||||||||
$ | 5,000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center System, Series 2008B, 5.000%, 6/15/18 | No Opt. Call | Aa3 | $ | 5,800,050 | ||||||||||
Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Refunding Series 2011: | ||||||||||||||||
6,550 | 5.000%, 12/01/17 – AGM Insured | No Opt. Call | AA– | 7,549,923 | ||||||||||||
4,400 | 5.000%, 12/01/18 – AGM Insured | No Opt. Call | AA– | 5,153,676 | ||||||||||||
1,900 | Berks County, Pennsylvania, General Obligation Bonds, Series 2008, 5.000%, 11/15/21 | 11/18 at 100.00 | Aa1 | 2,185,494 | ||||||||||||
1,010 | Central Dauphin School District, Dauphin County, Pennsylvania, General Obligation Bonds, Series 2006, 5.250%, 2/01/14 – NPFG Insured (ETM) | No Opt. Call | AA (4) | 1,022,928 | ||||||||||||
1,120 | Centre County, Pennsylvania, General Obligation Bonds, Series 2012A, 3.000%, 7/01/19 | No Opt. Call | AA | 1,192,744 | ||||||||||||
2,295 | Coatesville Area School District, Chester County, Pennsylvania, General Obligation Bonds, Series 2009, 4.000%, 10/01/14 – AGM Insured | No Opt. Call | AA– | 2,355,795 | ||||||||||||
Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Presbyterian Homes Inc., Refunding Series 2005A: | ||||||||||||||||
440 | 5.000%, 12/01/15 – RAAI Insured | No Opt. Call | BBB+ | 465,344 | ||||||||||||
20 | 4.250%, 12/01/17 – RAAI Insured | 12/15 at 100.00 | BBB+ | 20,638 | ||||||||||||
210 | 5.000%, 12/01/19 – RAAI Insured | 12/15 at 100.00 | BBB+ | 216,924 | ||||||||||||
75 | 5.000%, 12/01/21 – RAAI Insured | 12/15 at 100.00 | BBB+ | 76,368 | ||||||||||||
Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2010: | ||||||||||||||||
1,000 | 4.000%, 12/01/16 | No Opt. Call | A+ | 1,094,550 | ||||||||||||
500 | 5.000%, 12/01/18 | No Opt. Call | A+ | 585,395 | ||||||||||||
3,335 | Lancaster County, Pennsylvania, General Obligation Bonds, Series 2009A, 5.000%, 11/01/18 – AGM Insured | No Opt. Call | A1 | 3,906,286 | ||||||||||||
1,000 | Lebanon County Health Facilities Authority, Pennsylvania, Health Center Revenue Bonds, Pleasant View Retirement Community, Series 2005A, 5.125%, 12/15/20 | 12/14 at 100.00 | N/R | 1,006,280 | ||||||||||||
3,425 | Lebanon County Health Facilities Authority, Pennsylvania, Revenue Bonds, Good Samaritan Hospital Project, Refunding Series 2004, 5.000%, 11/15/18 | 11/13 at 100.00 | B+ | 3,416,643 | ||||||||||||
2,700 | Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.500%, 12/15/19 | No Opt. Call | N/R | 2,668,518 | ||||||||||||
2,165 | Lycoming County Authority, Pennsylvania, Health System Revenue Bonds, Susquehanna Health System Project, Series 2009A, 5.000%, 7/01/17 | No Opt. Call | A– | 2,405,250 | ||||||||||||
1,080 | Lycoming County Authority, Pennsylvania, Revenue Bonds, Pennsylvania College of Technology, Series 2012, 4.000%, 5/01/19 | No Opt. Call | A | 1,159,358 | ||||||||||||
3,450 | Montgomery County Higher Education and Health Authority, Pennsylvania, Hospital Revenue Bonds, Abington Memorial Hospital Obligated Group, Series 2012A, 5.000%, 6/01/23 | 6/22 at 100.00 | A | 3,820,634 | ||||||||||||
560 | Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Series 2013A0 & AE2, 5.000%, 12/01/23 | 12/13 at 100.00 | N/R | 470,807 | ||||||||||||
7 | Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Taxable Series 2013B, 5.000%, 12/31/23 (Alternative Minimum Tax) | 12/13 at 100.00 | N/R | 6,081 | ||||||||||||
940 | Pennsylvania Convention Center Authority, Revenue Bonds, Series 1989A, 6.700%, 9/01/16 – FGIC Insured (ETM) | No Opt. Call | AA+ (4) | 1,048,805 | ||||||||||||
Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert Einstein Healthcare, Series 2009A: | ||||||||||||||||
3,050 | 5.250%, 10/15/14 | No Opt. Call | BBB+ | 3,152,297 | ||||||||||||
3,285 | 5.250%, 10/15/15 | No Opt. Call | BBB+ | 3,499,248 | ||||||||||||
2,700 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, 1.750%, 12/01/33 (Mandatory put 12/01/15) | No Opt. Call | BBB | 2,698,893 | ||||||||||||
10,000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2011, 2.625%, 7/01/41 (Mandatory put 7/01/14) | No Opt. Call | BBB | 10,081,900 | ||||||||||||
Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012A: | ||||||||||||||||
2,500 | 5.000%, 7/01/15 | No Opt. Call | Aaa | 2,698,025 | ||||||||||||
2,985 | 4.000%, 7/01/15 | No Opt. Call | Aaa | 3,171,831 | ||||||||||||
3,940 | 5.000%, 7/01/16 | No Opt. Call | Aaa | 4,420,247 | ||||||||||||
4,830 | 5.000%, 7/01/19 | No Opt. Call | Aaa | 5,782,911 | ||||||||||||
Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue Bonds, Series 2012B: | ||||||||||||||||
5,700 | 5.000%, 7/01/21 | 1/18 at 100.00 | Aaa | 6,502,788 |
128 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Pennsylvania (continued) | ||||||||||||||||
$ | 23,750 | 5.000%, 1/01/22 | 7/17 at 100.00 | Aaa | $ | 26,891,847 | ||||||||||
8,365 | 5.000%, 7/01/22 | 7/16 at 100.00 | Aaa | 9,212,542 | ||||||||||||
15,750 | 5.000%, 1/01/23 | 1/16 at 100.00 | Aaa | 17,175,060 | ||||||||||||
13,270 | 5.000%, 7/01/23 | 7/15 at 100.00 | Aaa | 14,110,920 | ||||||||||||
11,800 | Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of Philadelphia, Series 2006B, 4.500%, 6/01/32 – AGM Insured | 12/16 at 100.00 | AA– | 11,595,388 | ||||||||||||
1,775 | Pennsylvania State Public School Building Authority, Lease Revenue Bonds, Philadelphia School District Project, Series 2006A, 4.500%, 6/01/15 – AGM Insured | No Opt. Call | AA– | 1,870,850 | ||||||||||||
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009B: | ||||||||||||||||
4,025 | 5.000%, 6/01/14 | No Opt. Call | A– | 4,133,071 | ||||||||||||
4,000 | 5.000%, 6/01/15 | No Opt. Call | A– | 4,267,520 | ||||||||||||
4,000 | 5.000%, 6/01/16 | No Opt. Call | A– | 4,414,320 | ||||||||||||
16,030 | Pennsylvania, General Obligation Bonds, Refunding 3rd Series 2004, 5.375%, 7/01/16 – NPFG Insured | No Opt. Call | AA | 18,124,800 | ||||||||||||
2,860 | Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – NPFG Insured (ETM) | No Opt. Call | A (4) | 3,452,363 | ||||||||||||
10,000 | Philadelphia School District, Pennsylvania, General Obligation Bonds, Refunding Series 2010C, 5.000%, 9/01/16 | No Opt. Call | Aa3 | 11,043,400 | ||||||||||||
Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2011D: | ||||||||||||||||
1,795 | 5.000%, 9/01/17 | No Opt. Call | Aa3 | 2,013,631 | ||||||||||||
1,525 | 5.000%, 9/01/18 | No Opt. Call | Aa3 | 1,734,977 | ||||||||||||
Pittsburgh Water and Sewerage Authority, Pennsylvania, Water and Sewerage System Revenue Refunding Bonds, Series 1986: | ||||||||||||||||
604 | 7.250%, 9/01/14 – FGIC Insured (ETM) | No Opt. Call | Aaa | 635,456 | ||||||||||||
620 | 6.000%, 9/01/16 – FGIC Insured (ETM) | No Opt. Call | Aaa | 692,125 | ||||||||||||
Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013: | ||||||||||||||||
260 | 4.000%, 12/01/14 | No Opt. Call | BBB– | 267,912 | ||||||||||||
1,205 | 4.000%, 12/01/16 | No Opt. Call | BBB– | 1,276,746 | ||||||||||||
1,250 | Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding and Improvement Series 2011, 4.625%, 8/01/17 | No Opt. Call | BBB+ | 1,338,688 | ||||||||||||
2,500 | University of Pittsburgh of the Commonwealth System of Higher Education, Pennsylvania, University Capital Project Bonds, Series 2009B, 5.500%, 9/15/21 | 3/19 at 100.00 | Aa1 | 2,951,225 | ||||||||||||
York County, Pennsylvania, General Obligation Bonds, Series 2013: | ||||||||||||||||
1,925 | 3.000%, 6/01/15 | No Opt. Call | AA | 2,002,655 | ||||||||||||
1,320 | 3.000%, 6/01/16 | No Opt. Call | AA | 1,399,913 | ||||||||||||
1,350 | 4.000%, 6/01/17 | No Opt. Call | AA | 1,497,852 | ||||||||||||
220,771 | Total Pennsylvania | 240,598,179 | ||||||||||||||
Puerto Rico – 0.2% | ||||||||||||||||
1,630 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A, 5.000%, 7/01/21 | No Opt. Call | BBB– | 1,275,768 | ||||||||||||
5,800 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ, 5.250%, 7/01/24 | 7/20 at 100.00 | BBB | 4,466,986 | ||||||||||||
15 | Puerto Rico, General Obligation Bonds, Public Improvement, Refunding Series 2012A, 5.000%, 7/01/20 | No Opt. Call | BBB– | 12,117 | ||||||||||||
150 | Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/20 – NPFG Insured | No Opt. Call | A | 141,741 | ||||||||||||
7,595 | Total Puerto Rico | 5,896,612 | ||||||||||||||
Rhode Island – 0.1% | ||||||||||||||||
450 | Rhode Island Health and Education Building Corporation, University of Rhode Island Auxiliary Enterprise Revenue Refunding Issue, Series 2013C, 4.000%, 9/15/16 | No Opt. Call | A+ | 488,885 | ||||||||||||
520 | Rhode Island Health and Education Building Corporation, University of Rhode Island Auxiliary Enterprise Revenue Refunding Issue, Series 2013C, 4.000%, 9/15/18 | No Opt. Call | A+ | 578,687 | ||||||||||||
2,000 | Rhode Island Industrial Facilities Corporation, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004A, 4.625%, 4/01/16 (Alternative Minimum Tax) | No Opt. Call | BBB | 2,108,900 | ||||||||||||
1,865 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.000%, 6/01/23 | 12/13 at 100.00 | Baa1 | 1,864,981 | ||||||||||||
4,835 | Total Rhode Island | 5,041,453 |
Nuveen Investments | 129 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
South Carolina – 1.1% | ||||||||||||||||
$ | 3,065 | Cherokee County School District 1, South Carolina, General Obligation Bonds, Series 2013A, 4.000%, 3/01/15 | No Opt. Call | Aa1 | $ | 3,220,242 | ||||||||||
Columbia, South Carolina, Waterworks and Sewer System Revenue Bonds, Refunding Series 2012: | ||||||||||||||||
1,500 | 3.500%, 2/01/20 | No Opt. Call | Aa1 | 1,652,145 | ||||||||||||
1,000 | 4.500%, 2/01/21 | No Opt. Call | Aa1 | 1,162,270 | ||||||||||||
6,010 | Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, GROWTH, Series 2004, 5.250%, 12/01/19 (Pre-refunded 12/01/14) | 12/14 at 100.00 | AA– (4) | 6,334,420 | ||||||||||||
7,125 | Georgetown County, South Carolina, Environmental Improvement Revenue Refunding Bonds, International Paper Company, Series 2002A, 5.700%, 4/01/14 | No Opt. Call | BBB | 7,257,169 | ||||||||||||
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Building Equity Sooner Series 2012: | ||||||||||||||||
3,365 | 5.000%, 12/01/21 | No Opt. Call | AA | 3,957,173 | ||||||||||||
4,910 | 5.000%, 12/01/22 | No Opt. Call | AA | 5,783,489 | ||||||||||||
5,245 | Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2006, 5.000%, 12/01/24 | 12/16 at 100.00 | AA | 5,787,700 | ||||||||||||
510 | Lexington County Health Service District, South Carolina, Hospital Revenue Refunding and Improvement Bonds, Series 2003, 5.500%, 11/01/13 | No Opt. Call | AA– | 510,000 | ||||||||||||
1,330 | McCormick County, South Carolina, Hospital Facilities Revenue Refunding and Improvement Bonds, McCormick Health Care Center Project, Series 2006, 8.000%, 3/01/21 (ETM) | No Opt. Call | N/R (4) | 1,722,350 | ||||||||||||
1,575 | South Carolina JOBS Economic Development Authority, Revenue Bonds, Waste Management of South Carolina, Inc. Project, Series 2008, 2.875%, 2/01/15 | No Opt. Call | BBB | 1,609,382 | ||||||||||||
820 | South Carolina JOBS-Economic Development Authority, Residential Care Facilities First Mortgage Revenue Bonds, South Carolina Episcopal Home at Still Hopes, Series 2004A, 6.000%, 5/15/17 | 5/14 at 100.00 | N/R | 821,123 | ||||||||||||
36,455 | Total South Carolina | 39,817,463 | ||||||||||||||
South Dakota – 0.1% | ||||||||||||||||
Deadwood, South Dakota, Certificates of Participation, Refunding Series 2012: | ||||||||||||||||
1,580 | 3.000%, 11/01/17 | No Opt. Call | A | 1,659,174 | ||||||||||||
770 | 3.000%, 11/01/18 | No Opt. Call | A | 805,074 | ||||||||||||
1,920 | Heartland Consumers Power District, South Dakota, Electric System Revenue Bonds, Series 1977, 6.375%, 1/01/16 (ETM) | No Opt. Call | Aaa | 2,051,731 | ||||||||||||
4,270 | Total South Dakota | 4,515,979 | ||||||||||||||
Tennessee – 1.1% | ||||||||||||||||
First Utility District of Knox County, Tennessee, Water and Sewer Revenue Bonds, Series 2012A: | ||||||||||||||||
425 | 2.000%, 12/01/13 | No Opt. Call | AA+ | 425,655 | ||||||||||||
425 | 2.000%, 12/01/14 | No Opt. Call | AA+ | 433,050 | ||||||||||||
225 | 2.000%, 12/01/15 | No Opt. Call | AA+ | 232,254 | ||||||||||||
225 | 2.000%, 12/01/16 | No Opt. Call | AA+ | 234,232 | ||||||||||||
475 | 2.000%, 12/01/17 | No Opt. Call | AA+ | 494,955 | ||||||||||||
710 | 4.000%, 12/01/20 | No Opt. Call | AA+ | 800,703 | ||||||||||||
740 | 4.000%, 12/01/21 | No Opt. Call | AA+ | 828,622 | ||||||||||||
695 | Johnson City Health and Educational Facilities Board, Tennessee, Revenue Bonds, Mountain States Health Alliance, Series 2006A, 5.000%, 7/01/14 | No Opt. Call | BBB+ | 712,215 | ||||||||||||
Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Refunding Bonds, Covenant Health, Series 2012A: | ||||||||||||||||
1,030 | 5.000%, 1/01/19 | No Opt. Call | A | 1,177,939 | ||||||||||||
2,500 | 5.000%, 1/01/20 | No Opt. Call | A | 2,831,375 | ||||||||||||
1,500 | 4.000%, 1/01/21 | No Opt. Call | A | 1,598,535 | ||||||||||||
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012: | ||||||||||||||||
1,335 | 3.000%, 11/01/17 | No Opt. Call | BBB+ | 1,393,380 | ||||||||||||
250 | 3.000%, 11/01/18 | No Opt. Call | BBB+ | 259,355 | ||||||||||||
1,070 | 4.000%, 11/01/19 | No Opt. Call | BBB+ | 1,153,631 | ||||||||||||
810 | 4.000%, 11/01/20 | No Opt. Call | BBB+ | 866,319 | ||||||||||||
500 | 4.000%, 11/01/21 | No Opt. Call | BBB+ | 528,565 | ||||||||||||
1,030 | 5.000%, 11/01/22 | 11/21 at 100.00 | BBB+ | 1,154,537 |
130 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Tennessee (continued) | ||||||||||||||||
Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage Revenue Bonds, Subordinate Lien Refunding Series 2012: | ||||||||||||||||
$ | 2,570 | 5.000%, 7/01/21 | No Opt. Call | A+ | $ | 3,032,446 | ||||||||||
1,320 | 5.000%, 7/01/22 | No Opt. Call | A+ | 1,553,746 | ||||||||||||
Shelby County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Baptist Memorial Healthcare, Series 2004A: | ||||||||||||||||
2,000 | 5.000%, 9/01/15 | No Opt. Call | AA– | 2,157,940 | ||||||||||||
5,000 | 5.000%, 9/01/16 | No Opt. Call | AA– | 5,571,600 | ||||||||||||
2,500 | 5.000%, 9/01/18 | No Opt. Call | AA– | 2,893,325 | ||||||||||||
7,530 | Tennessee State, General Obligation Bonds, Series 2009A, 5.000%, 5/01/17 | No Opt. Call | Aaa | 8,671,397 | ||||||||||||
1,000 | Tennessee State, General Obligation Bonds, Series 2009A, 5.000%, 5/01/19 (Pre-refunded 5/01/17) | 5/17 at 100.00 | Aaa | 1,149,760 | ||||||||||||
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A: | ||||||||||||||||
250 | 5.000%, 9/01/14 | No Opt. Call | A | 257,875 | ||||||||||||
200 | 5.250%, 9/01/18 | No Opt. Call | A | 224,378 | ||||||||||||
1,395 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C, 5.000%, 2/01/17 | No Opt. Call | A– | 1,520,955 | ||||||||||||
37,710 | Total Tennessee | 42,158,744 | ||||||||||||||
Texas – 5.5% | ||||||||||||||||
2,980 | Bexar County Housing Finance Corporation, Texas, FNMA Guaranteed Multifamily Housing Revenue Bonds, Villas Sonterra Apartments Project, Series 2007A, 4.700%, 10/01/15 (Alternative Minimum Tax) | No Opt. Call | N/R | 3,098,991 | ||||||||||||
Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series 2012A: | ||||||||||||||||
5,000 | 4.000%, 8/15/14 | No Opt. Call | AAA | 5,153,850 | ||||||||||||
20,350 | 5.000%, 8/15/23 | No Opt. Call | AAA | 24,706,528 | ||||||||||||
Canadian River Municipal Water Authority, Texas, Contract Revenue Bonds, Conjunctive Use Groundwater Supply Project, Subordinate Lien Series 2011: | ||||||||||||||||
1,000 | 5.000%, 2/15/15 | No Opt. Call | AA | 1,060,730 | ||||||||||||
1,000 | 5.000%, 2/15/16 | No Opt. Call | AA | 1,100,990 | ||||||||||||
6,975 | Dallas, Texas, Waterworks and Sewer System Revenue Bonds, Refunding Series 2007, 5.000%, 10/01/15 – AMBAC Insured | No Opt. Call | AAA | 7,599,611 | ||||||||||||
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B: | ||||||||||||||||
2,595 | 5.000%, 11/01/20 | No Opt. Call | A+ | 3,007,968 | ||||||||||||
5,000 | 5.000%, 11/01/21 | 11/20 at 100.00 | A+ | 5,712,350 | ||||||||||||
18,535 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013C, 2.000%, 10/01/17 (Mandatory put 2/15/14) | No Opt. Call | AA+ | 18,617,295 | ||||||||||||
6,000 | Harris County, Texas, General Obligation Bonds, Refunding Road Series 2009A, 5.250%, 10/01/18 | No Opt. Call | AAA | 7,196,460 | ||||||||||||
1,500 | Houston Independent School District, Harris County, Texas, General Obligation Bonds, Schoolhouse Series 2013A, 4.000%, 2/15/16 | No Opt. Call | AAA | 1,624,530 | ||||||||||||
1,780 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2012D, 5.000%, 11/15/21 | No Opt. Call | AA | 2,117,257 | ||||||||||||
11,520 | Houston, Texas, General Obligation Bonds, Public Improvement Refunding Series 2009A, 5.000%, 3/01/20 | 3/19 at 100.00 | AA | 13,396,262 | ||||||||||||
2,000 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011A, 5.000%, 9/01/14 | No Opt. Call | A2 | 2,079,000 | ||||||||||||
Houston, Texas, Senior Lien Airport System Revenue Bonds, Refunding Series 2009A: | ||||||||||||||||
1,360 | 5.000%, 7/01/15 | No Opt. Call | AA– | 1,464,054 | ||||||||||||
1,110 | 5.000%, 7/01/16 | No Opt. Call | AA– | 1,234,165 | ||||||||||||
2,250 | Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series 2011B, 5.000%, 7/01/20 | No Opt. Call | A+ | 2,623,455 | ||||||||||||
Lubbock Health Facilities Development Corporation, Texas, Revenue Bonds, Saint Joseph Health System, Refunding Series 2008B: | ||||||||||||||||
3,030 | 5.000%, 7/01/18 | No Opt. Call | AA– | 3,474,622 | ||||||||||||
3,000 | 5.000%, 7/01/20 | No Opt. Call | AA– | 3,441,000 | ||||||||||||
5,660 | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2006, 3.750%, 12/01/18 (Mandatory put 6/01/15) | No Opt. Call | BBB | 5,834,158 | ||||||||||||
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children’s Medical Center Dallas Project, Series 2012: | ||||||||||||||||
1,690 | 5.000%, 8/15/19 | No Opt. Call | AA | 1,967,278 | ||||||||||||
2,785 | 5.000%, 8/15/21 | No Opt. Call | AA | 3,201,580 |
Nuveen Investments | 131 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Texas (continued) | ||||||||||||||||
$ | 2,000 | 5.000%, 8/15/22 | No Opt. Call | AA | $ | 2,296,980 | ||||||||||
5,480 | 5.000%, 8/15/23 | 8/22 at 100.00 | AA | 6,196,839 | ||||||||||||
7,625 | North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D, 5.000%, 9/01/24 | 9/21 at 100.00 | AA+ | 8,689,755 | ||||||||||||
10,000 | San Antonio Independent School District, Bexar County, Texas, General Obligation Bonds, Series 2005, 5.000%, 8/15/21 | 8/15 at 100.00 | AAA | 10,765,200 | ||||||||||||
3,425 | San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, New Series 1992, 5.000%, 2/01/17 (ETM) | No Opt. Call | AA+ (4) | 3,657,832 | ||||||||||||
15,000 | San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, Series 2012, 5.000%, 2/01/21 | No Opt. Call | Aa1 | 17,858,550 | ||||||||||||
8,420 | Texas A&M University, Financing System Revenue Bonds, Series 2008, 5.000%, 5/15/15 | No Opt. Call | Aaa | 9,033,650 | ||||||||||||
5,500 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/20 | No Opt. Call | A3 | 6,048,130 | ||||||||||||
6,535 | Texas State Transportation Commission, Highway Fund Revenue Bonds, First Tier Series 2007, 5.000%, 4/01/16 | No Opt. Call | AAA | 7,258,882 | ||||||||||||
2,670 | Texas State, Public Financing Authority, General Obligation Bonds, Series 2009A, 5.000%, 10/01/17 | No Opt. Call | AAA | 3,112,232 | ||||||||||||
Val Verde County, Texas, Pass-Through Toll Revenue and Limited Tax Bonds, Series 2011: | ||||||||||||||||
2,000 | 3.000%, 8/15/14 | No Opt. Call | A | 2,032,760 | ||||||||||||
2,565 | 3.000%, 8/15/15 | No Opt. Call | A | 2,640,206 | ||||||||||||
2,640 | 3.000%, 8/15/16 | No Opt. Call | A | 2,746,577 | ||||||||||||
2,720 | 3.000%, 8/15/17 | No Opt. Call | A | 2,831,738 | ||||||||||||
183,700 | Total Texas | 204,881,465 | ||||||||||||||
Utah – 0.3% | ||||||||||||||||
4,000 | Intermountain Power Agency, Utah, Power Supply Revenue Bonds, Subordinate Lien Refunding Series 2013A, 3.000%, 7/01/15 | No Opt. Call | AA– | 4,178,080 | ||||||||||||
Utah Associated Municipal Power Systems, Revenue Bonds, Horse Butte Wind Project, Series 2012A: | ||||||||||||||||
500 | 5.000%, 9/01/14 | No Opt. Call | A– | 518,905 | ||||||||||||
550 | 5.000%, 9/01/15 | No Opt. Call | A– | 593,648 | ||||||||||||
875 | 5.000%, 9/01/16 | No Opt. Call | A– | 974,514 | ||||||||||||
500 | 5.000%, 9/01/17 | No Opt. Call | A– | 571,100 | ||||||||||||
500 | 5.000%, 9/01/18 | No Opt. Call | A– | 580,690 | ||||||||||||
625 | 5.000%, 9/01/19 | No Opt. Call | A– | 728,225 | ||||||||||||
1,025 | 5.000%, 9/01/20 | No Opt. Call | A– | 1,193,151 | ||||||||||||
2,045 | 5.000%, 9/01/21 | No Opt. Call | A– | 2,370,809 | ||||||||||||
10,620 | Total Utah | 11,709,122 | ||||||||||||||
Virgin Islands – 0.5% | ||||||||||||||||
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B: | ||||||||||||||||
2,515 | 5.000%, 10/01/14 | No Opt. Call | BBB | 2,601,491 | ||||||||||||
4,455 | 5.000%, 10/01/15 | No Opt. Call | BBB | 4,743,862 | ||||||||||||
4,375 | 5.000%, 10/01/16 | No Opt. Call | BBB | 4,768,356 | ||||||||||||
4,000 | 5.000%, 10/01/17 | No Opt. Call | BBB | 4,435,880 | ||||||||||||
15,345 | Total Virgin Islands | 16,549,589 | ||||||||||||||
Virginia – 0.4% | ||||||||||||||||
Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series 2006: | ||||||||||||||||
400 | 4.000%, 9/01/14 | No Opt. Call | BBB | 410,652 | ||||||||||||
400 | 4.125%, 9/01/15 | No Opt. Call | BBB | 421,820 | ||||||||||||
1,815 | Caroline County Industrial Development Authority, Virginia, Public Facility Lease Revenue Bond, Anticipation Notes, Series 2011, 4.000%, 8/01/16 | 2/14 at 100.00 | N/R | 1,817,795 | ||||||||||||
1,000 | Hanover County, Virginia, General Obligation Bonds, Refunding & Public Improvement Series 2009, 5.000%, 7/15/19 | No Opt. Call | AAA | 1,195,600 | ||||||||||||
Louisa Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Series 2008c: | ||||||||||||||||
3,750 | 5.375%, 11/01/35 (Mandatory put 12/02/13) (Pre-refunded 12/02/13) | 12/13 at 100.00 | A– (4) | 3,766,575 | ||||||||||||
2,500 | 1.500%, 11/01/35 (Mandatory put 12/01/14) | 11/14 at 100.00 | A– | 2,516,175 | ||||||||||||
3,250 | Peninsula Ports Authority, Virginia, Residential Care Facilities Revenue Bonds, Virginia Baptist Homes, Series 2003A, 7.375%, 12/01/32 (Pre-refunded 12/01/13) | 12/13 at 100.00 | AA+ (4) | 3,269,533 |
132 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Virginia (continued) | ||||||||||||||||
$ | 1,750 | Virginia College Building Authority, Educational Facilities Revenue Refunding Bonds, Marymount University, Series 1998, 5.100%, 7/01/18 – RAAI Insured | 1/14 at 100.00 | N/R | $ | 1,753,658 | ||||||||||
14,865 | Total Virginia | 15,151,808 | ||||||||||||||
Washington – 2.6% | ||||||||||||||||
1,700 | Central Washington University, Washington, System Revenue Bonds, Refunding Series 2013, 4.000%, 5/01/15 | No Opt. Call | A1 | 1,790,882 | ||||||||||||
4,115 | Seattle, Washington, Municipal Light and Power Revenue Bonds, Refunding & Improvement Series 2010B, 5.000%, 2/01/17 | No Opt. Call | AA | 4,693,692 | ||||||||||||
2,885 | Seattle, Washington, Municipal Light and Power Revenue Bonds, Refunding & Improvement Series 2013A, 4.000%, 7/01/15 | No Opt. Call | AA | 3,062,572 | ||||||||||||
Spokane Public Facilities District, Washington, Hotel, Motel, and Sales Use Tax Revenue Bonds, Refunding Series 2013B: | ||||||||||||||||
1,100 | 5.000%, 12/01/18 | No Opt. Call | A+ | 1,274,097 | ||||||||||||
1,400 | 5.000%, 12/01/20 | No Opt. Call | A+ | 1,626,520 | ||||||||||||
2,095 | 5.000%, 12/01/21 | No Opt. Call | A+ | 2,432,148 | ||||||||||||
3,000 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.375%, 1/01/31 | 1/21 at 100.00 | A | 3,065,940 | ||||||||||||
10,000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2012B, 4.000%, 10/01/42 (Mandatory put 10/01/21) | No Opt. Call | AA | 10,701,700 | ||||||||||||
10,580 | Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children’s Hospital, Refunding Series 2012B, 5.000%, 10/01/42 (Mandatory put 10/01/21) | No Opt. Call | AA | 12,062,999 | ||||||||||||
10,380 | Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, 2010 Series 2009B, 5.000%, 8/01/15 | No Opt. Call | AA+ | 11,237,180 | ||||||||||||
8,715 | Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008B, 5.000%, 7/01/19 | 7/18 at 100.00 | AA+ | 10,100,772 | ||||||||||||
Washington State, General Obligation Refunding Bonds, Various Purpose Series 2013R-13C: | ||||||||||||||||
9,355 | 4.000%, 7/01/15 | No Opt. Call | AA+ | 9,937,255 | ||||||||||||
20,070 | 5.000%, 7/01/21 | No Opt. Call | AA+ | 24,014,959 | ||||||||||||
1,190 | Washington, General Obligation Bonds, Series 1990A, 6.750%, 2/01/15 | No Opt. Call | AA+ | 1,244,704 | ||||||||||||
86,585 | Total Washington | 97,245,420 | ||||||||||||||
West Virginia – 0.4% | ||||||||||||||||
5,000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 2.250%, 1/01/41 (Mandatory put 9/01/16) (Alternative Minimum Tax) | No Opt. Call | BBB | 5,082,800 | ||||||||||||
7,000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Ohio Power Company – Amos Project, Series 2010A, 3.125%, 3/01/43 (Mandatory put 4/01/15) | No Opt. Call | Baa1 | 7,179,200 | ||||||||||||
530 | West Virginia State Building Commission, Lease Revenue Refunding Bonds, Regional Jail and Corrections Facility, Series 1998A, 5.375%, 7/01/18 – AMBAC Insured | No Opt. Call | N/R | 584,913 | ||||||||||||
2,480 | West Virginia University, Revenue Bonds, West Virginia University Projects, Series 2000A, 0.000%, 4/01/17 – AMBAC Insured | No Opt. Call | Aa3 | 2,344,270 | ||||||||||||
15,010 | Total West Virginia | 15,191,183 | ||||||||||||||
Wisconsin – 1.6% | ||||||||||||||||
3,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2013B, 4.000%, 11/15/43 (Mandatory put 3/01/18) | 3/18 at 100.00 | AA+ | 3,347,760 | ||||||||||||
4,070 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2009B, 4.750%, 8/15/25 (Mandatory put 8/15/14) | No Opt. Call | A | 4,194,664 | ||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010B: | ||||||||||||||||
5,000 | 5.000%, 7/15/17 | No Opt. Call | A | 5,597,800 | ||||||||||||
5,000 | 5.000%, 7/15/18 | No Opt. Call | A | 5,660,950 | ||||||||||||
5,680 | 5.000%, 7/15/19 | No Opt. Call | A | 6,405,166 | ||||||||||||
2,845 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2012A, 5.000%, 7/15/27 – AGM Insured | 7/21 at 100.00 | A2 | 2,929,895 | ||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Hospital Sisters Services, Inc., Refunding Series 2012B: | ||||||||||||||||
540 | 4.000%, 8/15/17 | No Opt. Call | AA– | 598,509 | ||||||||||||
1,105 | 5.000%, 8/15/18 | No Opt. Call | AA– | 1,285,270 |
Nuveen Investments | 133 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Wisconsin (continued) | ||||||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2006A: | ||||||||||||||||||
$ | 450 | 5.000%, 2/15/14 | No Opt. Call | A– | $ | 455,391 | ||||||||||||
500 | 5.000%, 2/15/15 | No Opt. Call | A– | 523,925 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Medical College of Wisconsin, Inc., Series 2010: | ||||||||||||||||||
1,475 | 5.000%, 12/01/16 | No Opt. Call | A+ | 1,631,527 | ||||||||||||||
1,555 | 5.000%, 12/01/17 | No Opt. Call | A+ | 1,746,156 | ||||||||||||||
1,635 | 5.000%, 12/01/18 | No Opt. Call | A+ | 1,858,832 | ||||||||||||||
1,710 | 5.000%, 12/01/19 | No Opt. Call | A+ | 1,947,399 | ||||||||||||||
8,485 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2010A, 5.000%, 6/01/19 | No Opt. Call | A2 | 8,923,335 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Refunding 2012C: | ||||||||||||||||||
500 | 5.000%, 8/15/16 | No Opt. Call | A+ | 552,830 | ||||||||||||||
750 | 5.000%, 8/15/18 | No Opt. Call | A+ | 859,898 | ||||||||||||||
315 | 5.000%, 8/15/20 | No Opt. Call | A+ | 359,292 | ||||||||||||||
1,480 | 5.000%, 8/15/21 | No Opt. Call | A+ | 1,673,924 | ||||||||||||||
35 | 5.000%, 8/15/23 | 8/22 at 100.00 | A+ | 38,819 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Healthcare System, Series 2006A: | ||||||||||||||||||
4,000 | 5.000%, 8/15/14 | No Opt. Call | A– | 4,134,520 | ||||||||||||||
2,050 | 5.250%, 8/15/18 | 8/16 at 100.00 | A– | 2,211,130 | ||||||||||||||
2,206 | Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 5.250%, 5/01/20 | 5/19 at 100.00 | AA– | 2,601,988 | ||||||||||||||
54,386 | Total Wisconsin | 59,538,980 | ||||||||||||||||
$ | 3,277,378 | Total Municipal Bonds (cost $3,481,821,184) | 3,560,701,584 | |||||||||||||||
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (3) | Value | |||||||||||||
CORPORATE BONDS – 0.0% | ||||||||||||||||||
Transportation – 0.0% | ||||||||||||||||||
$ | 123 | Las Vegas Monorail Company, Senior Interest Bonds (6), (7) | 5.500 | % | 7/15/19 | N/R | $ | 22,138 | ||||||||||
35 | Las Vegas Monorail Company, Senior Interest Bonds (6), (7) | 3.000 | % | 7/15/55 | N/R | 4,684 | ||||||||||||
$ | 158 | Total Corporate Bonds (cost $6,255) | 26,822 | |||||||||||||||
Total Long-Term Investments (cost $3,481,827,439) | 3,560,728,406 | |||||||||||||||||
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
SHORT-TERM INVESTMENTS – 2.9% | ||||||||||||||||||
MUNICIPAL BONDS – 2.9% | ||||||||||||||||||
Arkansas – 0.3% | ||||||||||||||||||
$ | 10,645 | University of Arkansas, Fayetteville, Revenue Bonds, Medical Sciences Campus, Variable Rate Demand Obligation, Tender Option Bond Trust 3693Z, 0.130%, 9/01/14 – NPFG Insured (8) | No Opt. Call | VMIG-1 | $ | 10,645,000 | ||||||||||||
Connecticut – 0.3% | ||||||||||||||||||
4,145 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Choate Rosemary Hall, Variable Rate Demand Obligations, Series 2008D, 0.100%, 7/01/37 (8) | 2/14 at 100.00 | VMIG-1 | 4,145,000 | ||||||||||||||
7,730 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Variable Rate Demand Obligations, Trust 2862, 0.090%, 7/01/15 (8) | No Opt. Call | A-1 | 7,730,000 | ||||||||||||||
11,875 | Total Connecticut | 11,875,000 | ||||||||||||||||
Georgia – 0.5% | ||||||||||||||||||
5,000 | Forsyth County Water and Sewerage Authority, Georgia, Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 2253, 0.130%, 4/01/15 – AGM Insured (8) | No Opt. Call | VMIG-1 | 5,000,000 | ||||||||||||||
12,135 | Georgia, General Obligation Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 1881, 0.080%, 4/01/27 (8) | 4/17 at 100.00 | VMIG-1 | 12,135,000 | ||||||||||||||
17,135 | Total Georgia | 17,135,000 |
134 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||
Iowa – 0.3% | ||||||||||||||||
$ | 9,700 | Iowa State, Special Obligation Bonds, I-Jobs Program, Variable Rate Demand Obligations, Tender Option Bond Trust 13B-A REG D, 0.120%, 6/01/25 (8) | No Opt. Call | A-1 | $ | 9,700,000 | ||||||||||
1,500 | Iowa State, Special Obligation Bonds, I-Jobs Program, Variable Rate Demand Obligations, Tender Option Bond Trust 13B-B REG D, 0.120%, 6/01/26 (8) | 6/19 at 100.00 | A-1 | 1,500,000 | ||||||||||||
11,200 | Total Iowa | 11,200,000 | ||||||||||||||
Maine – 0.2% | ||||||||||||||||
6,665 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Bowdoin College, Variable Rate Demand Obligations, Tender Option Bond Trust 2009-5B, 0.120%, 7/01/39 (8) | 7/19 at 100.00 | VMIG-1 | 6,665,000 | ||||||||||||
Massachusetts – 0.3% | ||||||||||||||||
10,000 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Variable Rate Demand Obligations, Tender Option Bond Trust 3529, 0.090%, 11/15/16 (8) | No Opt. Call | A-1 | 10,000,000 | ||||||||||||
Michigan – 0.0% | ||||||||||||||||
40 | Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Variable Rate Demand Obligations, Tender Option Bonds Trust DCL-045, 0.730%, 5/01/30 (8) | No Opt. Call | VMIG-2 | 40,000 | ||||||||||||
Missouri – 0.3% | ||||||||||||||||
10,480 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Variable Rate Demand Obligations, Tender Option Bond Trust DCL-017, 0.510%, 7/01/22 (8) | No Opt. Call | A-2 | 10,480,000 | ||||||||||||
Ohio – 0.1% | ||||||||||||||||
5,000 | Hamilton County, Ohio, Sales Tax Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 3766Z, 0.200%, 6/01/15 – AGM Insured (8) | No Opt. Call | A-1 | 5,000,000 | ||||||||||||
Virginia – 0.1% | ||||||||||||||||
5,000 | Virginia Resources Authority, Clean Water State Revolving Fund Revenue Bonds, Variable Rate Demand Obligations, Series 2008, Trust 2917, 0.080%, 10/01/28 (8) | 10/18 at 100.00 | A-1 | 5,000,000 | ||||||||||||
Washington – 0.5% | ||||||||||||||||
4,480 | Bellingham, Washington, Water and Sewer Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 11981X, 0.230%, 8/01/19 (8) | No Opt. Call | VMIG-1 | 4,480,000 | ||||||||||||
15,000 | Central Puget Sound Regional Transit Authority, Washington, Sales and Use Tax Revenue Bonds, Variable Rate Demand Obligations, Tender Option Bond Trust 2007-1C, 0.090%, 11/01/32 – AGM Insured (8) | 11/17 at 100.00 | VMIG-1 | 15,000,000 | ||||||||||||
19,480 | Total Washington | 19,480,000 | ||||||||||||||
$ | 107,520 | Total Short-Term Investments (cost $107,520,000) | 107,520,000 | |||||||||||||
|
| |||||||||||||||
Total Investments (cost $3,589,347,439) – 99.3% | 3,668,248,406 | |||||||||||||||
Other Assets Less Liabilities – 0.7% | 27,614,110 | |||||||||||||||
Net Assets – 100% | $ | 3,695,862,516 |
Nuveen Investments | 135 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Limited Term Municipal Bond Fund (continued)
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
(3) | Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(6) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information. |
(7) | During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an interest rate of 5.500% maturing on July 15, 2019 and the second with an interest rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The custodian is not accruing income on the Fund’s records for either senior interest corporate bond. |
(8) | Investment has a maturity of more than one year, but has variable rate and demand features which qualify it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. |
WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
(ETM) | Escrowed to maturity. |
See accompanying notes to financial statements.
136 | Nuveen Investments |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 96.8% | ||||||||||||||||||
MUNICIPAL BONDS – 96.8% | ||||||||||||||||||
National – 0.1% | ||||||||||||||||||
$ | 604 | BB&T Various States Municipal Trust Pool, Class B Certificates, Series 2011, 0.149%, 9/01/14 | No Opt. Call | AA– | $ | 603,771 | ||||||||||||
Alabama – 0.1% | ||||||||||||||||||
650 | Camden Industrial Development Board, Alabama, Exempt Facilities Revenue Bonds, Weyerhaeuser Company Project, Series 2003B, 6.375%, 12/01/24 (Pre–refunded 12/01/13) (Alternative Minimum Tax) | 12/13 at 100.00 | AA+ (4) | 653,322 | ||||||||||||||
Arizona – 4.9% | ||||||||||||||||||
Arizona Sports and Tourism Authority, Subordinate Tax Revenue Refunding Bonds, Professional Baseball Training Facilities Project, Series 2013: | ||||||||||||||||||
1,000 | 5.000%, 7/01/15 | No Opt. Call | A3 | 1,065,080 | ||||||||||||||
1,000 | 5.000%, 7/01/16 | No Opt. Call | A3 | 1,095,550 | ||||||||||||||
Avondale, Arizona, Pledged Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
1,045 | 2.000%, 7/01/14 | No Opt. Call | AA | 1,056,370 | ||||||||||||||
1,175 | 2.000%, 7/01/15 | No Opt. Call | AA | 1,202,448 | ||||||||||||||
1,545 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2010, 5.000%, 5/15/19 | No Opt. Call | A+ | 1,737,044 | ||||||||||||||
Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2010, Series 2013B: | ||||||||||||||||||
1,500 | 1.000%, 7/01/18 (WI/DD, Settling 11/12/13) | No Opt. Call | Aa1 | 1,531,905 | ||||||||||||||
1,775 | 1.000%, 7/01/19 (WI/DD, Settling 11/12/13) | No Opt. Call | Aa1 | 1,866,572 | ||||||||||||||
415 | Marana, Arizona, Pledged Excise Tax Revenue Bonds, Refunding Series 2013, 4.000%, 7/01/17 | No Opt. Call | AA | 458,691 | ||||||||||||||
1,045 | Maricopa County School District 31 Balsz, Arizona, General Obligation Bonds, School Improvement Project 2011 Series 2012, 2.000%, 7/01/14 – AGM Insured | No Opt. Call | AA– | 1,055,805 | ||||||||||||||
5,000 | Navajo County Pollution Control Corporation, Arizona, Pollution Control Revenue Refunding Bonds, Arizona Public Service Company, Cholla Project, Series 2009A, 1.250%, 6/01/34 (Mandatory put 5/29/14) | No Opt. Call | Baa1 | 5,016,000 | ||||||||||||||
5,935 | Phoenix Civic Improvement Corporation, Arizona, Junior Lien Airport Revenue Bonds, Series 2010A, 5.000%, 7/01/17 | No Opt. Call | A+ | 6,791,124 | ||||||||||||||
1,000 | Phoenix Civic Improvement Corporation, Arizona, Transit Excise Tax Revenue Refunding Bonds, Light Rail Project, Series 2013, 5.000%, 7/01/16 | No Opt. Call | AA | 1,118,770 | ||||||||||||||
1,370 | Phoenix Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 1983, 0.000%, 12/01/14 (ETM) | No Opt. Call | Aaa | 1,366,301 | ||||||||||||||
Phoenix Mesa Gateway Airport Authority, Arizona, Special Facility Revenue Bonds, Mesa Project, Series 2012: | ||||||||||||||||||
200 | 3.000%, 7/01/14 (Alternative Minimum Tax) | No Opt. Call | AA+ | 202,886 | ||||||||||||||
130 | 3.000%, 7/01/15 (Alternative Minimum Tax) | No Opt. Call | AA+ | 133,219 | ||||||||||||||
300 | 3.000%, 7/01/16 (Alternative Minimum Tax) | No Opt. Call | AA+ | 310,521 | ||||||||||||||
790 | Pinal County Electrical District 3, Arizona, Electric System Revenue Bonds, Refunding Series 2011, 2.500%, 7/01/15 | No Opt. Call | A | 808,873 | ||||||||||||||
820 | Sun Devil Energy LLC, Arizona, Revenue Refunding Bonds, Arizona State University Project, Series 2008, 5.000%, 7/01/18 | No Opt. Call | AA– | 954,537 | ||||||||||||||
2,000 | Yavapai County Industrial Development Authority, Arizona, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2003A-2, 0.850%, 3/01/28 (Mandatory put 3/03/14) (Alternative Minimum Tax) | No Opt. Call | BBB | 1,999,580 | ||||||||||||||
28,045 | Total Arizona | 29,771,276 | ||||||||||||||||
Arkansas – 0.5% | ||||||||||||||||||
2,910 | North Little Rock Health Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 1996B, 5.375%, 12/01/19 | 12/18 at 100.00 | A+ | 3,301,511 | ||||||||||||||
California – 8.5% | ||||||||||||||||||
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 19C, Series 2013A: | ||||||||||||||||||
475 | 2.000%, 9/01/14 | No Opt. Call | N/R | 477,480 | ||||||||||||||
495 | 2.250%, 9/01/15 | No Opt. Call | N/R | 498,727 |
Nuveen Investments | 137 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 1,000 | Burbank-Glendale-Pasadena Airport Authority, California, Airport Revenue Bonds, Series 2005B, 5.250%, 7/01/16 – AMBAC Insured (Alternative Minimum Tax) | No Opt. Call | A+ | $ | 1,072,140 | ||||||||||||
800 | California Health Facilities Financing Authority, Cal-Mortgage Insured Revenue Bonds, Northern California Retired Officers Community Corporation – Paradise Valley Estates, Refunding Series 2013, 3.000%, 1/01/17 | No Opt. Call | A | 840,136 | ||||||||||||||
California Health Facilities Financing Authority, Insured Refunding Revenue Bonds, Marshall Medical Center, Series 2012A: | ||||||||||||||||||
350 | 3.000%, 11/01/13 | No Opt. Call | A | 350,000 | ||||||||||||||
495 | 4.000%, 11/01/14 | No Opt. Call | A | 512,582 | ||||||||||||||
1,690 | California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013B, 5.000%, 7/01/43 (Mandatory put 10/17/17) | No Opt. Call | AA– | 1,935,422 | ||||||||||||||
275 | California Municipal Finance Authority, Revenue Bonds, Centro De Salud De La Communidad De Ysidero, Inc., Series 2013, 3.000%, 3/01/16 | No Opt. Call | A | 288,076 | ||||||||||||||
895 | California Municipal Finance Authority, Revenue Bonds, Northbay Healthcare Group, Refunding Series 2013B, 5.000%, 11/01/14 | No Opt. Call | BBB– | 927,712 | ||||||||||||||
1,000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, USA Waste Services Inc., Refunding Series 1998A, 2.625%, 6/01/18 (Mandatory put 6/01/14) (Alternative Minimum Tax) | No Opt. Call | BBB | 1,009,410 | ||||||||||||||
2,330 | California State Public Works Board, Lease Revenue Bonds, Department of Corrections & Rehabilitation, Series 2011C, 4.000%, 10/01/15 | No Opt. Call | A2 | 2,489,978 | ||||||||||||||
3,000 | California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2011A, 4.000%, 10/01/15 | No Opt. Call | A2 | 3,205,980 | ||||||||||||||
2,500 | California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A, 5.000%, 3/01/16 | 3/15 at 100.00 | A | 2,632,600 | ||||||||||||||
Carlsbad, California, Limited Obligation Refunding Bonds, Reassessment District 12-1, Series 2013: | ||||||||||||||||||
400 | 2.000%, 9/01/14 | No Opt. Call | N/R | 404,100 | ||||||||||||||
250 | 2.000%, 9/01/15 | No Opt. Call | N/R | 253,465 | ||||||||||||||
1,000 | Chula Vista Municipal Finance Authority, California, Special Tax Revenue Bonds, Refunding Series 2013, 5.000%, 9/01/15 | No Opt. Call | �� | BBB+ | 1,068,840 | |||||||||||||
Clovis, California, Water Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
225 | 4.000%, 3/01/16 – BAM Insured | No Opt. Call | AA | 241,070 | ||||||||||||||
250 | 4.000%, 3/01/17 – BAM Insured | No Opt. Call | AA | 273,658 | ||||||||||||||
1,000 | Colton Joint Unified School District, San Bernardino County, California, General Obligation Bonds, Refunding Series 2013, 4.000%, 8/01/17 – AGM Insured | No Opt. Call | AA– | 1,112,720 | ||||||||||||||
550 | Corona-Norco Unified School District Public Financing Authority, Riverside County, California, Special Tax Revenue Refunding Bonds, Senior Lien Series 2013A, 2.000%, 9/01/15 | No Opt. Call | BBB+ | 556,243 | ||||||||||||||
Fresno, California, Airport Revenue Bonds, Refunding Series 2013B: | ||||||||||||||||||
1,275 | 4.000%, 7/01/15 (Alternative Minimum Tax) | No Opt. Call | Baa1 | 1,331,891 | ||||||||||||||
875 | 4.000%, 7/01/16 (Alternative Minimum Tax) | No Opt. Call | Baa1 | 927,946 | ||||||||||||||
905 | 4.000%, 7/01/17 (Alternative Minimum Tax) | No Opt. Call | Baa1 | 966,703 | ||||||||||||||
2,295 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2013A, 5.000%, 6/01/17 | No Opt. Call | A2 | 2,580,360 | ||||||||||||||
2,500 | Inland Valley Development Agency, California, Tax Allocation Bonds, Series 2011B, 4.250%, 3/01/41 (Mandatory put 3/01/15) | No Opt. Call | A | 2,581,925 | ||||||||||||||
685 | Irvine, California, Limited Obligation Improvement Bonds, Reassessment District 12-1, Series 2012, 3.000%, 9/02/15 | No Opt. Call | BBB+ | 709,701 | ||||||||||||||
Irvine, California, Limited Obligation Improvement Bonds, Reassessment District 13-1, Series 2013: | ||||||||||||||||||
700 | 2.000%, 9/02/14 | No Opt. Call | BBB– | 707,175 | ||||||||||||||
780 | 2.000%, 9/02/15 | No Opt. Call | BBB– | 790,811 | ||||||||||||||
Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Community Facilities District 88-3, Series 2013B: | ||||||||||||||||||
705 | 2.000%, 9/01/14 | No Opt. Call | N/R | 710,436 | ||||||||||||||
685 | 2.000%, 9/01/15 | No Opt. Call | N/R | 690,740 | ||||||||||||||
1,440 | Lee Lake Public Financing Authority, California, Senior Lien Revenue Bonds, Refunding Series 2013A, 4.000%, 9/01/15 | No Opt. Call | BBB | 1,513,958 | ||||||||||||||
1,100 | Modesto High School District, Stanislaus County, California, General Obligation Bonds, Series 2002A, 0.000%, 8/01/14 – FGIC Insured | No Opt. Call | Aa2 | 1,097,074 | ||||||||||||||
500 | Northern California Power Agency, Hydroelectric Project Number One Revenue Bonds, Refunding Series 2010A, 5.000%, 7/01/16 | No Opt. Call | A+ | 558,185 |
138 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
California (continued) | ||||||||||||||||||
$ | 2,500 | Oakland Redevelopment Successor Agency, California, Tax Allocation Bonds, Central District Redevelopment Project, Subordinate Refunding Series 2013, 5.000%, 9/01/15 | No Opt. Call | A– | $ | 2,690,450 | ||||||||||||
Orange City, California, Special Tax Bonds, Community Facilities District 91-2, Serrano Heights Public Improvements, Refunding Series 2013: | ||||||||||||||||||
450 | 3.000%, 10/01/15 | No Opt. Call | A | 468,639 | ||||||||||||||
320 | 3.000%, 10/01/16 | No Opt. Call | A | 338,301 | ||||||||||||||
360 | 3.000%, 10/01/17 | No Opt. Call | A | 381,488 | ||||||||||||||
300 | 4.000%, 10/01/18 | No Opt. Call | A | 329,361 | ||||||||||||||
2,950 | Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A , 3.000%, 9/01/16 | No Opt. Call | N/R | 2,970,709 | ||||||||||||||
675 | Pioneers Memorial Healthcare District, California, General Obligation Bonds, Refunding Series 2012, 3.000%, 10/01/14 | No Opt. Call | BBB+ | 687,845 | ||||||||||||||
400 | Pittsburg Infrastructure Financing Authority, California, Reassessment Revenue Refunding Bonds, Series 2011A, 3.000%, 9/02/14 – AGM Insured | No Opt. Call | AA– | 407,576 | ||||||||||||||
500 | Riverside County Transportation Commission, California, Sales Tax Revenue Bonds, Limited Tax Bonds, Series 2013A, 5.000%, 6/01/18 | No Opt. Call | AA+ | 587,095 | ||||||||||||||
Sacramento City Financing Authority, California, Special Tax Revenue Bonds, Westlake and Regency Park, Refunding Series 2013A: | ||||||||||||||||||
1,005 | 3.000%, 9/01/15 | No Opt. Call | BBB+ | 1,035,562 | ||||||||||||||
550 | 3.000%, 9/01/16 | No Opt. Call | BBB+ | 571,236 | ||||||||||||||
San Benito Health Care District, San Benito County, California, Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
300 | 3.000%, 3/01/16 | No Opt. Call | A | 314,694 | ||||||||||||||
350 | 4.000%, 3/01/18 | No Opt. Call | A | 385,532 | ||||||||||||||
600 | San Bernardino City Unified School District, San Bernardino County, California, General Obligation Bonds, Refunding Series 2013A, 5.000%, 8/01/17 | No Opt. Call | A | 684,840 | ||||||||||||||
1,000 | San Francisco Redevelopment Agency, California, Special Tax Bonds, Community Facilities District 6, Mission Bay South, Series 2002, 3.000%, 8/01/15 | No Opt. Call | N/R | 1,030,750 | ||||||||||||||
985 | Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 5.000%, 12/01/18 | No Opt. Call | A | 1,086,977 | ||||||||||||||
West Kern Water District, California, Certificates of Participation, Series 2011: | ||||||||||||||||||
630 | 3.000%, 6/01/14 | No Opt. Call | AA– | 638,165 | ||||||||||||||
860 | 3.000%, 6/01/15 | No Opt. Call | AA– | 887,236 | ||||||||||||||
600 | 3.000%, 6/01/16 | No Opt. Call | AA– | 625,812 | ||||||||||||||
48,760 | Total California | 51,439,512 | ||||||||||||||||
Colorado – 3.5% | ||||||||||||||||||
Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013: | ||||||||||||||||||
175 | 3.000%, 6/01/15 | No Opt. Call | A | 179,667 | ||||||||||||||
250 | 3.000%, 6/01/16 | No Opt. Call | A | 259,590 | ||||||||||||||
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Douglas County School District RE-1 – DCS Montessori School, Refunding & Improvement Series 2012: | ||||||||||||||||||
210 | 2.000%, 7/15/14 | No Opt. Call | A | 211,560 | ||||||||||||||
175 | 2.250%, 7/15/17 | No Opt. Call | A | 176,726 | ||||||||||||||
3,345 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.000%, 7/01/15 | No Opt. Call | A+ | 3,598,283 | ||||||||||||||
500 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Communities Project, Series 2012, 4.000%, 1/01/15 | No Opt. Call | N/R | 494,455 | ||||||||||||||
2,450 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan, Series 2009B, 5.000%, 6/01/39 (Mandatory put 12/01/14) | No Opt. Call | A– | 2,565,175 | ||||||||||||||
Colorado Health Facilities Authority, Colorado, Revenue Bonds, National Jewish Medical and Research Center, Series 2012: | ||||||||||||||||||
350 | 4.000%, 1/01/14 | No Opt. Call | BBB– | 351,439 | ||||||||||||||
505 | 4.000%, 1/01/15 | No Opt. Call | BBB– | 517,792 | ||||||||||||||
840 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Series 2012, 3.000%, 9/01/15 | No Opt. Call | A3 | 872,432 |
Nuveen Investments | 139 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Colorado (continued) | ||||||||||||||||||
$ | 360 | Colorado Water Resources and Power Development Authority, Water Resources Revenue Bonds, Parker Water and Sanitation District, Series 2004D, 4.000%, 9/01/14 – NPFG Insured | No Opt. Call | A | $ | 369,234 | ||||||||||||
Commerce City Northern Infrastructure General Improvement District, Colorado, General Obligation Bonds, Series 2013: | ||||||||||||||||||
365 | 3.000%, 12/01/15 – AGM Insured | No Opt. Call | AA– | 382,173 | ||||||||||||||
600 | 4.000%, 12/01/16 – AGM Insured | No Opt. Call | AA– | 655,374 | ||||||||||||||
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A: | ||||||||||||||||||
250 | 4.000%, 11/15/15 (Alternative Minimum Tax) | No Opt. Call | A | 265,460 | ||||||||||||||
250 | 5.000%, 11/15/16 (Alternative Minimum Tax) | No Opt. Call | A | 278,425 | ||||||||||||||
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B: | ||||||||||||||||||
100 | 3.000%, 11/15/15 | No Opt. Call | A | 104,737 | ||||||||||||||
450 | 4.000%, 11/15/16 | No Opt. Call | A | 492,170 | ||||||||||||||
300 | 5.000%, 11/15/17 | No Opt. Call | A | 344,736 | ||||||||||||||
1,850 | Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, Stapleton Senior Refunding Series 2013A-1, 5.000%, 12/01/16 | No Opt. Call | A– | 2,077,365 | ||||||||||||||
305 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/17 – NPFG Insured | No Opt. Call | A | 275,998 | ||||||||||||||
Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A: | ||||||||||||||||||
235 | 3.000%, 5/01/14 (Alternative Minimum Tax) | No Opt. Call | Baa2 | 236,901 | ||||||||||||||
345 | 3.500%, 5/01/15 (Alternative Minimum Tax) | No Opt. Call | Baa2 | 354,584 | ||||||||||||||
1,240 | Meridian Metropolitan District, Douglas County, Colorado, General Obligation Refunding Bonds, Series 2011A, 3.000%, 12/01/15 | No Opt. Call | A | 1,289,687 | ||||||||||||||
360 | Parker Water and Sanitation District, Douglas County, Colorado, Water and Sewer Enterprise Revenue Bonds, Refunding Series 2012, 2.000%, 11/01/13 – AGM Insured | No Opt. Call | AA– | 360,000 | ||||||||||||||
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
730 | 4.000%, 12/01/15 | No Opt. Call | N/R | 746,403 | ||||||||||||||
1,015 | 4.000%, 12/01/16 | No Opt. Call | N/R | 1,050,809 | ||||||||||||||
Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2013B: | ||||||||||||||||||
480 | 3.000%, 12/01/15 | No Opt. Call | A | 500,035 | ||||||||||||||
490 | 3.000%, 12/01/16 | No Opt. Call | A | 516,220 | ||||||||||||||
510 | 3.000%, 12/01/17 | No Opt. Call | A | 541,034 | ||||||||||||||
235 | Tallyn’s Reach Metropolitan District 3, Aurora, Colorado, General Obligation Bonds, Refunding Series 2012, 3.000%, 12/01/15 | No Opt. Call | BBB | 242,875 | ||||||||||||||
Westminster Economic Development Authority, Colorado, Tax Increment Revenue Bonds, Mandalay Gardens Urban Renewal Project, Series 2012: | ||||||||||||||||||
615 | 1.000%, 12/01/13 | No Opt. Call | A | 615,289 | ||||||||||||||
450 | 3.000%, 12/01/14 | No Opt. Call | A | 460,224 | ||||||||||||||
20,335 | Total Colorado | 21,386,852 | ||||||||||||||||
Connecticut – 1.5% | ||||||||||||||||||
1,490 | Connecticut Development Authority, Pollution Control Revenue Bonds, Connecticut Light and Power Company, Series 1996A, 1.550%, 5/01/31 (Mandatory put 4/01/15) (Alternative Minimum Tax) | No Opt. Call | A | 1,505,496 | ||||||||||||||
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G: | ||||||||||||||||||
505 | 2.250%, 7/01/14 | No Opt. Call | Baa1 | 507,687 | ||||||||||||||
765 | 4.000%, 7/01/15 | No Opt. Call | Baa1 | 792,953 | ||||||||||||||
1,150 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2012H, 4.000%, 7/01/14 – AGM Insured | No Opt. Call | AA– | 1,178,704 | ||||||||||||||
5,115 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2013A, 1.350%, 7/01/42 (Mandatory put 7/21/16) | No Opt. Call | AAA | 5,227,428 | ||||||||||||||
9,025 | Total Connecticut | 9,212,268 | ||||||||||||||||
Delaware – 0.1% | ||||||||||||||||||
Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013: | ||||||||||||||||||
200 | 4.000%, 7/01/14 | No Opt. Call | BBB– | 201,760 | ||||||||||||||
225 | 4.000%, 7/01/15 | No Opt. Call | BBB– | 228,935 | ||||||||||||||
425 | Total Delaware | 430,695 |
140 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
District of Columbia – 0.5% | ||||||||||||||||||
$ | 325 | District of Columbia, Revenue Bonds, Association of American Medical Colleges, Series 2011A, 3.000%, 10/01/16 | No Opt. Call | A+ | $ | 344,334 | ||||||||||||
250 | District of Columbia, Revenue Bonds, Gallaudet University, Series 2011, 3.000%, 4/01/14 | No Opt. Call | A+ | 252,953 | ||||||||||||||
1,840 | District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2009A, 5.000%, 4/01/14 | No Opt. Call | A– | 1,876,248 | ||||||||||||||
700 | Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 5.000%, 10/01/15 – AMBAC Insured | No Opt. Call | A1 | 757,904 | ||||||||||||||
3,115 | Total District of Columbia | 3,231,439 | ||||||||||||||||
Florida – 6.7% | ||||||||||||||||||
Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A: | ||||||||||||||||||
300 | 3.000%, 11/15/16 | No Opt. Call | BBB | 310,239 | ||||||||||||||
600 | 4.000%, 11/15/17 | No Opt. Call | BBB | 639,606 | ||||||||||||||
1,045 | Broward County, Florida, Airport System Revenue Bonds, Series 2004L, 5.000%, 10/01/16 (Pre-refunded 10/01/14) – AMBAC Insured | 10/14 at 100.00 | A1 (4) | 1,090,520 | ||||||||||||||
1,400 | Broward County, Florida, Port Facilities Revenue Bonds, Refunding Series 2011B, 5.000%, 9/01/15 (Alternative Minimum Tax) | No Opt. Call | A2 | 1,503,894 | ||||||||||||||
Citizens Property Insurance Corporation, Florida, High Risk Assessment Revenue, Senior Secured Bonds, Series 2009A-1: | ||||||||||||||||||
1,365 | 6.000%, 6/01/16 | No Opt. Call | A+ | 1,539,174 | ||||||||||||||
965 | 5.000%, 6/01/16 – AGC Insured | No Opt. Call | AA– | 1,064,955 | ||||||||||||||
5,415 | Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal Account Senior Secured Series 2011A-1, 5.000%, 6/01/15 | No Opt. Call | A+ | 5,787,227 | ||||||||||||||
Citizens Property Insurance Corporation, Florida, High-Risk Account Senior Secured Bonds Series 2010A-1: | ||||||||||||||||||
300 | 5.000%, 6/01/14 | No Opt. Call | A+ | 308,241 | ||||||||||||||
695 | 5.000%, 6/01/15 – AGM Insured | No Opt. Call | AA– | 743,615 | ||||||||||||||
650 | Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/14 | No Opt. Call | A | 663,319 | ||||||||||||||
4,080 | Florida Citizens Property Insurance Corporation, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1, 5.000%, 6/01/16 | No Opt. Call | A+ | 4,497,914 | ||||||||||||||
Florida Higher Educational Facilities Financing Authority, Revenue and Revenue Refunding Bonds, University of Tampa Project, Series 2012A: | ||||||||||||||||||
300 | 4.000%, 4/01/14 | No Opt. Call | BBB+ | 303,774 | ||||||||||||||
850 | 4.000%, 4/01/15 | No Opt. Call | BBB+ | 880,923 | ||||||||||||||
Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2012A: | ||||||||||||||||||
220 | 4.000%, 4/01/15 | No Opt. Call | Baa1 | 228,004 | ||||||||||||||
435 | 4.000%, 4/01/16 | No Opt. Call | Baa1 | 460,152 | ||||||||||||||
Hernando County, Florida, Water and Sewer Revenue Bonds, Refunding Series 2013A: | ||||||||||||||||||
450 | 3.000%, 6/01/15 | No Opt. Call | Aa3 | 467,460 | ||||||||||||||
350 | 4.000%, 6/01/17 | No Opt. Call | Aa3 | 386,274 | ||||||||||||||
1,000 | Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Refunding Series 2009E, 5.000%, 11/15/15 | No Opt. Call | AA | 1,089,410 | ||||||||||||||
2,000 | Highlands County Health Facilities Authority, Florida, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Variable Rate Demand Series 2005I, 5.000%, 11/15/16 | No Opt. Call | AA | 2,253,300 | ||||||||||||||
2,000 | Lee County, Florida, Airport Revenue Bonds, Refunding Series 2010A, 5.000%, 10/01/14 – AGM Insured (Alternative Minimum Tax) | No Opt. Call | AA– | 2,086,740 | ||||||||||||||
1,000 | Miami, Florida, Special Obligation Non-Ad Valorem Revenue Refunding Bonds, Series 2011A, 5.000%, 2/01/17 | No Opt. Call | AA– | 1,093,790 | ||||||||||||||
2,245 | Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2013A, 5.000%, 7/01/17 | No Opt. Call | A– | 2,571,917 | ||||||||||||||
500 | Miami-Dade County Industrial Development Authority, Florida, Solid Waste Revenue Bonds, Waste Management Inc. of Florida Project, Series 2008, 2.625%, 8/01/23 (Mandatory put 8/01/14) (Alternative Minimum Tax) | No Opt. Call | BBB | 506,015 | ||||||||||||||
730 | Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical Center, Series 2013A, 4.000%, 11/01/15 | No Opt. Call | BBB+ | 768,062 | ||||||||||||||
Pinellas County Educational Facilities Authority, Florida, General Revenue Bonds, Barry University, Refunding Series 2011: | ||||||||||||||||||
1,175 | 5.000%, 10/01/15 | No Opt. Call | BBB | 1,261,198 | ||||||||||||||
1,060 | 4.000%, 10/01/16 | No Opt. Call | BBB | 1,131,730 |
Nuveen Investments | 141 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Florida (continued) | ||||||||||||||||||
$ | 305 | Pinellas County Educational Facilities Authority, Florida, General Revenue Bonds, Barry University, Refunding Series 2012, 4.000%, 10/01/15 | No Opt. Call | BBB | $ | 318,670 | ||||||||||||
Saint Lucie County, Florida, Sales Tax Revenue Bonds, Refunding Series 2013A: | ||||||||||||||||||
1,815 | 3.000%, 10/01/14 – AGM Insured | No Opt. Call | AA– | 1,861,355 | ||||||||||||||
370 | 4.000%, 10/01/15 – AGM Insured | No Opt. Call | AA– | 393,699 | ||||||||||||||
565 | 4.000%, 10/01/16 – AGM Insured | No Opt. Call | AA– | 615,347 | ||||||||||||||
305 | Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A, 3.000%, 9/01/14 | No Opt. Call | A+ | 311,335 | ||||||||||||||
Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011: | ||||||||||||||||||
2,380 | 2.000%, 10/15/14 – AGM Insured | No Opt. Call | AA– | 2,417,295 | ||||||||||||||
1,275 | 4.000%, 10/15/15 – AGM Insured | No Opt. Call | AA– | 1,359,431 | ||||||||||||||
38,145 | Total Florida | 40,914,585 | ||||||||||||||||
Georgia – 2.4% | ||||||||||||||||||
1,300 | Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2011B, 5.000%, 1/01/14 | No Opt. Call | A+ | 1,310,062 | ||||||||||||||
1,750 | Bartow County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Plant Bowen Project, Series 1997, 2.375%, 9/01/29 (Mandatory put 8/10/17) | No Opt. Call | A | 1,766,415 | ||||||||||||||
1,300 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company, Ninth Series 1994, 1.200%, 10/01/32 (Mandatory put 4/01/14) | No Opt. Call | A+ | 1,302,535 | ||||||||||||||
1,500 | Carroll County School District, Georgia, General Obligation Bonds, Series 2011, 4.000%, 4/01/14 | No Opt. Call | AA+ | 1,523,790 | ||||||||||||||
3,200 | DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 4.000%, 9/01/15 | No Opt. Call | BBB | 3,308,576 | ||||||||||||||
1,000 | Fulton County Development Authority, Georgia, General Revenue Bonds, Spelman College, Refunding Series 2012, 3.000%, 6/01/14 | No Opt. Call | A1 | 1,015,430 | ||||||||||||||
2,700 | Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2012B, 3.000%, 7/01/18 | 1/14 at 100.00 | N/R | 2,361,015 | ||||||||||||||
1,000 | Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Gulf Power Company – Scherer Project, First Series 2010, 1.700%, 6/01/49 (Mandatory put 6/21/17) | No Opt. Call | A | 997,780 | ||||||||||||||
330 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University Project, Refunding Series 2012C, 4.000%, 10/01/14 | No Opt. Call | Baa2 | 337,907 | ||||||||||||||
585 | Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 4.000%, 10/01/14 | No Opt. Call | Baa2 | 599,017 | ||||||||||||||
14,665 | Total Georgia | 14,522,527 | ||||||||||||||||
Guam – 0.2% | ||||||||||||||||||
1,000 | Guam International Airport Authority, Revenue Bonds, Series 2013B, 4.000%, 10/01/15 (Alternative Minimum Tax) | No Opt. Call | BBB | 1,030,920 | ||||||||||||||
Hawaii – 0.3% | ||||||||||||||||||
600 | Hawaii Department of Budget and Finance, Special Purpose Senior Living Revenue Bonds, 15 Craigside Project, Series 2009C-1, 7.500%, 11/15/15 | 11/13 at 100.00 | N/R | 601,458 | ||||||||||||||
1,195 | Hawaii State, General Obligation Bonds, Series 2009D-Q, 4.000%, 6/01/14 | No Opt. Call | AA | 1,221,959 | ||||||||||||||
1,795 | Total Hawaii | 1,823,417 | ||||||||||||||||
Illinois – 7.9% | ||||||||||||||||||
680 | Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 2006A, 5.000%, 4/01/15 – NPFG Insured | No Opt. Call | A+ | 720,875 | ||||||||||||||
2,000 | Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2012A, 5.000%, 1/01/15 (Alternative Minimum Tax) | No Opt. Call | A2 | 2,104,420 | ||||||||||||||
1,120 | Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien Refunding Series 2012B, 4.000%, 1/01/15 (Alternative Minimum Tax) | No Opt. Call | A2 | 1,165,472 | ||||||||||||||
675 | Chicago, Illinois, Second Lien Wastewater Transmission Revenue Bonds, Series 2004B, 5.250%, 1/01/16 – NPFG Insured | No Opt. Call | AA | 732,071 | ||||||||||||||
1,290 | Community Unit School District 226, Ogle County, Illinois, General Obligations Bonds, Series 2006, 5.250%, 1/01/15 – AMBAC Insured | No Opt. Call | Aa3 | 1,359,234 | ||||||||||||||
1,070 | Decatur, Illinois, General Obligation Bonds, Refunding Series 2013, 3.000%, 3/01/16 | No Opt. Call | Aa2 | 1,116,620 |
142 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Illinois (continued) | ||||||||||||||||||
$ | 4,755 | Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Refunding Series 2010A, 5.000%, 3/01/15 | No Opt. Call | A+ | $ | 5,032,882 | ||||||||||||
Illinois Finance Authority, Revenue Bonds, Benedictine University Project, Series 2013A: | ||||||||||||||||||
765 | 3.000%, 10/01/14 (WI/DD, Settling 11/20/13) | No Opt. Call | BBB | 778,961 | ||||||||||||||
1,000 | 4.000%, 10/01/17 (WI/DD, Settling 11/20/13) | No Opt. Call | BBB | 1,059,290 | ||||||||||||||
500 | 5.000%, 10/01/19 (WI/DD, Settling 11/20/13) | No Opt. Call | BBB | 542,185 | ||||||||||||||
225 | Illinois Finance Authority, Revenue Bonds, DePaul University, Refunding Series 2013, 5.000%, 10/01/17 | No Opt. Call | A | 257,128 | ||||||||||||||
500 | Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Series 2009, 6.250%, 2/01/19 | No Opt. Call | Baa3 | 529,545 | ||||||||||||||
1,195 | Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 5.000%, 7/01/18 | No Opt. Call | A– | 1,309,254 | ||||||||||||||
Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A: | ||||||||||||||||||
1,655 | 5.000%, 11/01/13 | No Opt. Call | A | 1,655,000 | ||||||||||||||
1,125 | 5.000%, 11/01/14 | No Opt. Call | A | 1,169,280 | ||||||||||||||
360 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2005, 5.000%, 8/15/15 | No Opt. Call | AA– | 382,928 | ||||||||||||||
300 | Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Capitol Appreciation Series 2010B, 0.000%, 5/15/50 (5) | 11/13 at 100.00 | N/R | 3 | ||||||||||||||
700 | Illinois Finance Authority, Revenue Bonds, The Clare at Water Tower Project, Refunding Series 2010A, 5.100%, 5/15/14 (5) | 11/13 at 100.00 | N/R | 7 | ||||||||||||||
1,295 | Illinois State, General Obligation Bonds, Refunding Series 2006, 5.000%, 1/01/15 | No Opt. Call | A– | 1,355,153 | ||||||||||||||
1,245 | Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/15 – AGM Insured | No Opt. Call | AA– | 1,304,312 | ||||||||||||||
Illinois State, General Obligation Bonds, Refunding Series 2012: | ||||||||||||||||||
1,575 | 4.000%, 8/01/14 | No Opt. Call | A– | 1,613,666 | ||||||||||||||
1,375 | 5.000%, 8/01/17 | No Opt. Call | A– | 1,526,264 | ||||||||||||||
655 | Illinois State, General Obligation Bonds, Series 2006A, 5.000%, 6/01/15 | No Opt. Call | A– | 695,191 | ||||||||||||||
940 | Illinois State, General Obligation Bonds, Series 2006, 5.000%, 1/01/15 | No Opt. Call | A– | 983,663 | ||||||||||||||
5,830 | Illinois State, General Obligation Bonds, Series 2013, 4.000%, 7/01/16 | No Opt. Call | A– | 6,212,740 | ||||||||||||||
3,000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Junior Lien Series 2013, 4.000%, 6/15/15 | No Opt. Call | AAA | 3,174,630 | ||||||||||||||
2,000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013B, 5.000%, 12/01/17 | No Opt. Call | AA– | 2,298,400 | ||||||||||||||
1,560 | Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2002, 5.500%, 8/01/15 – SYNCORA GTY Insured | No Opt. Call | A | 1,678,076 | ||||||||||||||
520 | Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 2.000%, 1/01/15 – AGM Insured | No Opt. Call | A2 | 527,930 | ||||||||||||||
200 | Quad Cities Regional Economic Development Authority, Illinois, Revenue Bonds, Augustana College, Series 2012, 3.000%, 10/01/16 | No Opt. Call | Baa1 | 207,264 | ||||||||||||||
St Clair County, Illinois, Highway Revenue Bonds, Series 2013A: | ||||||||||||||||||
250 | 5.000%, 1/01/16 | No Opt. Call | AA– | 270,648 | ||||||||||||||
360 | 5.000%, 1/01/17 | No Opt. Call | AA– | 399,528 | ||||||||||||||
690 | University of Illinois, Auxiliary Facilities System Revenue Bonds, Series 2001A, 5.500%, 4/01/14 – AMBAC Insured | No Opt. Call | AA– | 705,042 | ||||||||||||||
Waukegan, Illinois, General Obligation Bonds, Refunding Series 2012A: | ||||||||||||||||||
1,200 | 3.000%, 12/30/13 – AGM Insured | No Opt. Call | A2 | 1,204,728 | ||||||||||||||
1,120 | 4.000%, 12/30/14 – AGM Insured | No Opt. Call | A2 | 1,160,802 | ||||||||||||||
885 | 4.000%, 12/30/15 – AGM Insured | No Opt. Call | A2 | 937,746 | ||||||||||||||
790 | Western Illinois University, Auxiliary Facilities Revenue Bonds, Series 2012, 3.000%, 4/01/14 | No Opt. Call | A | 797,861 | ||||||||||||||
Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011: | ||||||||||||||||||
395 | 5.750%, 12/01/14 – AGM Insured | No Opt. Call | AA– | 413,545 | ||||||||||||||
450 | 5.750%, 12/01/15 – AGM Insured | No Opt. Call | AA– | 487,328 | ||||||||||||||
46,250 | Total Illinois | 47,869,672 | ||||||||||||||||
Indiana – 2.2% | ||||||||||||||||||
3,000 | Indiana Finance Authority, Economic Development Revenue Bonds, Republic Service, Inc. Project, Refunding Series 2010A, 0.530%, 5/01/34 (Alternative Minimum Tax) | 11/13 at 100.00 | BBB | 3,000,000 | ||||||||||||||
1,605 | Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013B, 5.000%, 1/01/19 (Alternative Minimum Tax) | 1/17 at 100.00 | BBB | 1,704,719 | ||||||||||||||
1,000 | Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Baptist Homes of Indiana, Series 2005, 5.000%, 11/15/13 | No Opt. Call | BBB+ | 1,001,550 |
Nuveen Investments | 143 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Indiana (continued) | ||||||||||||||||||
$ | 1,090 | Indiana Health and Educational Facility Financing Authority, Educational Facilities Revenue Bonds, University of Indianapolis, Refunding Series 2007, 5.000%, 10/01/15 | No Opt. Call | A– | $ | 1,180,601 | ||||||||||||
1,000 | Indiana Health Facility Financing Authority, Revenue Bonds, Ascension Health, Series 2005A-5, 2.000%, 11/01/27 (Mandatory put 8/01/17) | No Opt. Call | AA | 1,019,670 | ||||||||||||||
1,360 | Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2007L, 5.000%, 7/01/17 – NPFG Insured | No Opt. Call | A+ | 1,544,593 | ||||||||||||||
3,140 | Indianapolis, Indiana, Gas Utility System Revenue Bonds, Refunding 2nd Lien Series 2008C, 5.000%, 6/01/17 | No Opt. Call | AA– | 3,549,236 | ||||||||||||||
610 | Knox County, Indiana, Economic Development Revenue and Refunding Bonds, Good Samaritan Hospital Project, Series 2012A, 3.000%, 4/01/15 | No Opt. Call | A3 | 628,209 | ||||||||||||||
12,805 | Total Indiana | 13,628,578 | ||||||||||||||||
Iowa – 2.1% | ||||||||||||||||||
Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011: | ||||||||||||||||||
230 | 4.000%, 6/15/14 | No Opt. Call | A2 | 235,242 | ||||||||||||||
500 | 4.000%, 6/15/15 | No Opt. Call | A2 | 525,470 | ||||||||||||||
Iowa Finance Authority, Healthcare Revenue Bonds, Gensisi Health System, Refunding Series 2010: | ||||||||||||||||||
1,150 | 5.000%, 7/01/16 | No Opt. Call | A1 | 1,271,210 | ||||||||||||||
2,450 | 5.000%, 7/01/20 | No Opt. Call | A1 | 2,790,820 | ||||||||||||||
1,315 | Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Central College, Refunding Series 2012A, 3.000%, 10/01/14 | No Opt. Call | Baa3 | 1,338,933 | ||||||||||||||
220 | Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, University of Dubuque Project, Refunding Series 2011, 4.000%, 10/01/14 | No Opt. Call | BBB– | 222,629 | ||||||||||||||
Iowa Student Loan Liquidity Corporation Student Loan Revenue Bonds, Senior Lien Series 2011A-1: | ||||||||||||||||||
340 | 2.600%, 12/01/13 (Alternative Minimum Tax) | No Opt. Call | A | 340,201 | ||||||||||||||
1,810 | 3.100%, 12/01/14 (Alternative Minimum Tax) | No Opt. Call | A | 1,827,973 | ||||||||||||||
3,900 | Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-1, 5.000%, 12/01/13 | No Opt. Call | A1 | 3,912,363 | ||||||||||||||
11,915 | Total Iowa | 12,464,841 | ||||||||||||||||
Kansas – 1.2% | ||||||||||||||||||
1,205 | Kansas Development Finance Authority, Health Facilities Revenue Bonds, Hays Medical Center Inc., Series 2005L, 5.250%, 11/15/13 | No Opt. Call | A2 | 1,207,326 | ||||||||||||||
1,100 | Kansas Development Finance Authority, Health Facilities Revenue Bonds, Stormont-Vail Health Care Inc., Series 2008F, 5.000%, 11/15/15 | No Opt. Call | A2 | 1,188,869 | ||||||||||||||
1,000 | Kansas State Power Pool, Electric Utility Revenue Bonds, Dogwood Energy Facility, Series 2012A, 3.000%, 12/01/14 | No Opt. Call | Baa1 | 1,021,020 | ||||||||||||||
500 | Manhattan, Kansas, Hospital Revenue Bonds, Mercy Regional Health Center, Inc., Refunding Series 2013, 4.000%, 11/15/15 | No Opt. Call | A | 535,640 | ||||||||||||||
1,000 | Wichita, Kansas, Hospital Facilities Revenue Bonds, Via Christi Health System, Inc., Refunding Series 2009X, 5.000%, 11/15/15 | No Opt. Call | N/R | 1,095,250 | ||||||||||||||
Wichita, Kansas, Hospital Facilities Revenue Refunding and Improvement Bonds, Via Christi Health System Inc., Series 2009A-III: | ||||||||||||||||||
1,000 | 5.000%, 11/15/14 | No Opt. Call | N/R | 1,049,900 | ||||||||||||||
1,000 | 5.000%, 11/15/16 | No Opt. Call | N/R | 1,135,630 | ||||||||||||||
6,805 | Total Kansas | 7,233,635 | ||||||||||||||||
Kentucky – 0.1% | ||||||||||||||||||
500 | Russell, Kentucky, Revenue Bonds, Bon Secours Health System, Series 2013, 4.000%, 11/01/15 | No Opt. Call | A– | 526,780 | ||||||||||||||
Louisiana – 0.9% | ||||||||||||||||||
Calcasieu Parish Public Trust Authority, Louisiana, Student Lease Revenue Bonds, McNeese State University Student Housing-Cowboy Facilities, Inc. Project, Refunding Series 2011: | ||||||||||||||||||
305 | 2.000%, 5/01/14 – AGM Insured | No Opt. Call | A2 | 307,772 | ||||||||||||||
315 | 3.000%, 5/01/15 – AGM Insured | No Opt. Call | A2 | 326,942 | ||||||||||||||
315 | 3.000%, 5/01/16 – AGM Insured | No Opt. Call | A2 | 332,498 | ||||||||||||||
300 | Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2012, 2.000%, 6/01/14 | No Opt. Call | A– | 302,382 |
144 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Louisiana (continued) | ||||||||||||||||||
$ | 1,235 | Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006B, 5.000%, 6/01/15 – AMBAC Insured | No Opt. Call | A– | $ | 1,309,026 | ||||||||||||
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Refunding Bonds, Parking Facilities Corporation – Phase I Project, Series 2012: | ||||||||||||||||||
500 | 3.000%, 10/01/14 – AGM Insured | No Opt. Call | AA– | 510,695 | ||||||||||||||
1,000 | 3.000%, 10/01/16 – AGM Insured | No Opt. Call | AA– | 1,045,630 | ||||||||||||||
1,350 | New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2012, 4.000%, 12/01/15 | No Opt. Call | A3 | 1,434,942 | ||||||||||||||
5,320 | Total Louisiana | 5,569,887 | ||||||||||||||||
Maine – 0.1% | ||||||||||||||||||
Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
175 | 3.000%, 7/01/16 | No Opt. Call | BBB+ | 183,950 | ||||||||||||||
350 | 3.000%, 7/01/17 | No Opt. Call | BBB+ | 369,758 | ||||||||||||||
525 | Total Maine | 553,708 | ||||||||||||||||
Maryland – 0.2% | ||||||||||||||||||
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Salisbury University Project, Refunding Series 2013: | ||||||||||||||||||
100 | 3.000%, 6/01/14 | No Opt. Call | Baa3 | 100,472 | ||||||||||||||
280 | 3.000%, 6/01/16 | No Opt. Call | Baa3 | 281,736 | ||||||||||||||
405 | Maryland Economic Development Corporation, Student Housing Revenue Bonds, Salisbury University Project, Series 2012, 3.000%, 6/01/15 | No Opt. Call | Baa3 | 409,504 | ||||||||||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial Hospital Issue, Series 2012A: | ||||||||||||||||||
150 | 3.000%, 7/01/14 | No Opt. Call | Baa1 | 152,558 | ||||||||||||||
220 | 3.000%, 7/01/15 | No Opt. Call | Baa1 | 227,605 | ||||||||||||||
1,155 | Total Maryland | 1,171,875 | ||||||||||||||||
Massachusetts – 1.0% | ||||||||||||||||||
300 | Massachusetts Development Finance Agency, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2013F, 3.000%, 7/01/15 | No Opt. Call | A | 312,588 | ||||||||||||||
1,200 | Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2011K-4, 5.000%, 7/01/35 (Mandatory put 1/14/16) | No Opt. Call | AA | 1,310,592 | ||||||||||||||
525 | Massachusetts Development Finance Agency, Senior Living Facility Revenue Bonds, The Groves in Lincoln Issue, Series 2009B-2, 6.250%, 6/01/14 (6), (7) | 12/13 at 100.00 | N/R | 52,862 | ||||||||||||||
1,785 | Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 4.500%, 1/01/16 (Alternative Minimum Tax) | 1/14 at 100.00 | AA | 1,871,001 | ||||||||||||||
2,500 | Massachusetts Housing Finance Agency, Construction Loan Notes, Series 2012F, 0.650%, 12/01/14 | No Opt. Call | A+ | 2,501,150 | ||||||||||||||
6,310 | Total Massachusetts | 6,048,193 | ||||||||||||||||
Michigan – 3.1% | ||||||||||||||||||
Bridgeport Spaulding Community School District, Saginaw County, Michigan, General Obligation Bonds, Refunding Series 2011: | ||||||||||||||||||
675 | 2.500%, 5/01/14 – AGM Insured | No Opt. Call | Aa2 | 681,561 | ||||||||||||||
1,250 | 3.000%, 5/01/15 – AGM Insured | No Opt. Call | Aa2 | 1,291,413 | ||||||||||||||
500 | Caledonia Community Schools, Kent, Allegan and Barry Counties, Michigan, General Obligation Bonds, Series 2013, 3.000%, 5/01/14 | No Opt. Call | AA– | 506,990 | ||||||||||||||
800 | Dearborn School District, Wayne County, Michigan, General Obligation Bonds, Series 2007, 4.000%, 5/01/14 | No Opt. Call | Aa2 | 813,384 | ||||||||||||||
Detroit-Wayne County Stadium Authority, Michigan, Wayne County Limited Tax General Obligation Bonds, Building Authority Stadium Refunding Series 2012: | ||||||||||||||||||
500 | 5.000%, 10/01/14 | No Opt. Call | BBB– | 515,705 | ||||||||||||||
475 | 5.000%, 10/01/15 | No Opt. Call | BBB– | 501,657 | ||||||||||||||
800 | Grand Blanc Community Schools, Genesee County, Michigan, General Obligation Bonds, Refunding Series 2013, 4.000%, 5/01/17 | No Opt. Call | AA– | 869,880 | ||||||||||||||
430 | Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Bonds, Bronson Healthcare Group, Series 2011A, 4.000%, 5/15/15 | No Opt. Call | A2 | 447,131 |
Nuveen Investments | 145 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Michigan (continued) | ||||||||||||||||||
$ | 500 | Lake Superior State University Board of Trustees, Michigan, General Revenue Refunding Bonds, Series 2012, 2.000%, 11/15/14 – AGM Insured | No Opt. Call | AA– | $ | 506,090 | ||||||||||||
525 | Livonia Public Schools, Wayne County, Michigan, General Obligation Bonds, School Building & Site Series 2013I, 3.000%, 5/01/16 – AGM Insured | No Opt. Call | AA– | 550,956 | ||||||||||||||
Michigan Finance Authority, Revenue Bonds, Detroit City School District, Series 2012: | ||||||||||||||||||
250 | 5.000%, 6/01/14 | No Opt. Call | A+ | 255,448 | ||||||||||||||
550 | 4.000%, 6/01/14 | No Opt. Call | A+ | 558,795 | ||||||||||||||
2,060 | Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Group, Series 2010B, 5.000%, 11/15/16 | No Opt. Call | AA+ | 2,308,992 | ||||||||||||||
250 | Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Oakwood Obligated Group, Series 2003, 5.500%, 11/01/13 | No Opt. Call | A | 250,000 | ||||||||||||||
475 | Northwest Michigan Community Schools, Jackson & Ingham Counties, Michigan, General Obligation Bonds, School Building & Site Series 2013, 2.000%, 5/01/14 | No Opt. Call | AA– | 479,266 | ||||||||||||||
700 | Romeo Community School District, Macomb and Oakland Counties, Michigan, General Obligation Bonds, School Building & Site Series 2013, 1.000%, 5/01/14 | No Opt. Call | Aa2 | 702,793 | ||||||||||||||
200 | Saginaw Valley State University, Michigan, General Revenue Bonds, Refunding Series 2013A, 5.000%, 7/01/17 | No Opt. Call | A1 | 227,146 | ||||||||||||||
1,350 | Warren Consolidated Schools, Macomb and Oakland Counties, Michigan, General Obligation Bonds, Refunding Series 2013, 4.000%, 5/01/16 | No Opt. Call | AA– | 1,441,800 | ||||||||||||||
1,225 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010A, 5.000%, 12/01/16 (Alternative Minimum Tax) | No Opt. Call | A | 1,352,657 | ||||||||||||||
415 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Airport, Refunding Series 2010C, 5.000%, 12/01/13 | No Opt. Call | A | 416,639 | ||||||||||||||
1,405 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2005, 5.250%, 12/01/13 – NPFG Insured (Alternative Minimum Tax) | No Opt. Call | A | 1,410,255 | ||||||||||||||
400 | Western Michigan University, General Revenue and Refunding Bonds, Series 2013, 5.000%, 11/15/17 | No Opt. Call | A1 | 456,592 | ||||||||||||||
500 | Western Michigan University, General Revenue Refunding Bonds, Series 2008, 3.625%, 11/15/14 – AGM Insured | No Opt. Call | AA– | 516,595 | ||||||||||||||
595 | Western Townships Utilities Authority, Michigan, Sewage Disposal System Bonds, Refunding Series 2012, 3.000%, 1/01/14 | No Opt. Call | AA | 597,517 | ||||||||||||||
1,120 | Williamston Community Schools School District, Ingham County, Michigan, General Obligation Bonds, Refunding Series 2011, 3.000%, 5/01/14 | No Opt. Call | AA– | 1,133,675 | ||||||||||||||
17,950 | Total Michigan | 18,792,937 | ||||||||||||||||
Minnesota – 4.9% | ||||||||||||||||||
2,805 | Bemidji Independent School District 31, Beltrami County, Minnesota, General Obligation Bonds, Refunding Series 2013A, 5.000%, 4/01/17 | No Opt. Call | AA+ | 3,215,147 | ||||||||||||||
585 | Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2013A, 1.900%, 7/01/15 | No Opt. Call | BBB– | 584,901 | ||||||||||||||
2,155 | Farmington Independent School District 192, Dakota County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012B, 3.000%, 2/01/14 | No Opt. Call | Aa2 | 2,170,279 | ||||||||||||||
1,360 | Independent School District 194, Lakeville, Dakota County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012C, 3.000%, 2/01/14 | No Opt. Call | Aa2 | 1,369,792 | ||||||||||||||
2,500 | Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 5.000%, 8/01/17 | No Opt. Call | BBB | 2,729,350 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, Walker Minneapolis Campus Project, Refunding Series 2012: | ||||||||||||||||||
100 | 2.000%, 11/15/13 | No Opt. Call | N/R | 99,974 | ||||||||||||||
400 | 2.250%, 11/15/14 | No Opt. Call | N/R | 397,192 | ||||||||||||||
705 | 2.600%, 11/15/15 | No Opt. Call | N/R | 696,575 | ||||||||||||||
2,500 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009B, 5.000%, 1/01/15 (Alternative Minimum Tax) | No Opt. Call | AA– | 2,634,450 | ||||||||||||||
1,335 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essential Health Obligated Group, Series 2008C-1, 5.000%, 2/15/15 – AGC Insured | No Opt. Call | AA– | 1,406,476 | ||||||||||||||
500 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Refunding Series 2010-7-G, 3.000%, 10/01/14 | No Opt. Call | Baa3 | 507,615 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: | ||||||||||||||||||
910 | 5.500%, 5/01/16 | No Opt. Call | N/R | 958,130 | ||||||||||||||
1,065 | 5.500%, 5/01/17 | No Opt. Call | N/R | 1,133,959 |
146 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Minnesota (continued) | ||||||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2012-7R: | ||||||||||||||||||
$ | 270 | 2.000%, 12/01/13 | No Opt. Call | Baa2 | $ | 270,243 | ||||||||||||
200 | 3.000%, 12/01/14 | No Opt. Call | Baa2 | 203,882 | ||||||||||||||
210 | 3.000%, 12/01/15 | No Opt. Call | Baa2 | 216,388 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Catherine University, Series 2012-7Q: | ||||||||||||||||||
500 | 3.000%, 10/01/14 | No Opt. Call | Baa1 | 509,770 | ||||||||||||||
450 | 4.000%, 10/01/15 | No Opt. Call | Baa1 | 474,791 | ||||||||||||||
650 | 4.000%, 10/01/16 | No Opt. Call | Baa1 | 700,109 | ||||||||||||||
1,000 | Minnesota Higher Education Facilities Authority, Revenue Bonds, University of St. Thomas, Series 2006-6I, 5.000%, 4/01/16 | No Opt. Call | A2 | 1,102,930 | ||||||||||||||
2,210 | Robbinsdale Independent School District 281, Hennepin County, Minnesota, General Obligation Bonds, School Building Refunding Series 2012B, 2.000%, 2/01/14 | No Opt. Call | AA+ | 2,220,056 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 5.000%, 5/01/15 | No Opt. Call | A1 | 1,067,870 | ||||||||||||||
360 | Saint Paul Housing and Redevelopment Authority, Minnesota, Upper Landing Project Tax Increment Revenue Refunding Bonds, Series 2012, 5.000%, 3/01/14 | No Opt. Call | N/R | 362,178 | ||||||||||||||
Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd Lutheran Home, Refunding Series 2013: | ||||||||||||||||||
235 | 4.000%, 1/01/15 | No Opt. Call | N/R | 236,899 | ||||||||||||||
300 | 4.000%, 1/01/16 | No Opt. Call | N/R | 302,874 | ||||||||||||||
1,280 | Shakopee Independent School District 720, Scott County, Minnesota, General Obligation Bonds, Series 2013A, 3.000%, 2/01/17 | No Opt. Call | Aa2 | 1,375,616 | ||||||||||||||
800 | Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 2002A, 5.250%, 1/01/14 – AMBAC Insured | No Opt. Call | A+ | 806,832 | ||||||||||||||
1,055 | St. Paul Housing and Redevelopment Authority, Minnesota, Performing Arts Facility Revenue Bonds, Ordway Center for the Performing Arts, Series 2012, 1.450%, 7/01/14 | No Opt. Call | N/R | 1,055,475 | ||||||||||||||
850 | Wayzata, Minnesota, Senior Housing Entrance Deposit Revenue Bonds, Folkestone Senior Living Community, Series 2012B, 4.875%, 5/01/19 | 5/14 at 100.00 | N/R | 853,069 | ||||||||||||||
28,290 | Total Minnesota | 29,662,822 | ||||||||||||||||
Mississippi – 0.6% | ||||||||||||||||||
125 | D’Iberville, Mississippi, Tax Increment Limited Obligation Refunding Bonds, Gulf Coast Promenade Project, Series 2013, 2.000%, 4/01/14 | No Opt. Call | BBB+ | 125,539 | ||||||||||||||
3,235 | Mississippi Development Bank, Special Obligation Bonds, Jackson County Limited Tax Note, Series 2009B-1, 4.000%, 7/01/15 – AGC Insured | No Opt. Call | AA– | 3,417,131 | ||||||||||||||
3,360 | Total Mississippi | 3,542,670 | ||||||||||||||||
Missouri – 5.5% | ||||||||||||||||||
515 | Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 4.000%, 10/01/16 | No Opt. Call | AA+ | 564,723 | ||||||||||||||
Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Refunding Series 2012: | ||||||||||||||||||
250 | 3.000%, 8/01/14 | No Opt. Call | A | 254,470 | ||||||||||||||
1,000 | 3.000%, 8/01/15 | No Opt. Call | A | 1,035,070 | ||||||||||||||
1,000 | 4.000%, 8/01/17 | No Opt. Call | A | 1,086,430 | ||||||||||||||
1,000 | Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Saint Francis Medical Center, Series 2013A, 4.000%, 6/01/17 | No Opt. Call | AA– | 1,100,700 | ||||||||||||||
360 | Joplin Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Freeman Health System, Series 2011, 2.750%, 2/15/14 | No Opt. Call | BBB+ | 361,134 | ||||||||||||||
265 | Joplin Industrial Development Authority, Missouri, Revenue Bonds, Christian Homes Inc., Series 2007F, 5.500%, 5/15/17 | No Opt. Call | BBB– | 277,680 | ||||||||||||||
1,250 | Kansas City, Missouri, Airport Revenue Bonds, General Improvement Refunding Series 2013A, 5.000%, 9/01/17 | No Opt. Call | A+ | 1,427,750 | ||||||||||||||
2,020 | Missouri Development Finance Board, Independence, Infrastructure Facilities Revenue Bonds, Water System Improvement Projects, Series 2009E, 4.000%, 11/01/16 | 11/14 at 100.00 | A– | 2,070,116 | ||||||||||||||
3,000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Kansas City Power & Light Company Project, Series 1992, 1.250%, 7/01/17 | No Opt. Call | A– | 3,008,910 |
Nuveen Investments | 147 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Missouri (continued) | ||||||||||||||||||
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Southwest Baptist University Project, Series 2012: | ||||||||||||||||||
$ | 470 | 3.000%, 10/01/14 | No Opt. Call | BBB– | $ | 477,764 | ||||||||||||
480 | 3.000%, 10/01/15 | No Opt. Call | BBB– | 493,253 | ||||||||||||||
495 | 3.000%, 10/01/16 | No Opt. Call | BBB– | 509,588 | ||||||||||||||
270 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Capital Region Medical Center, Series 2011, 3.000%, 11/01/13 | No Opt. Call | A3 | 270,000 | ||||||||||||||
700 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, St. Luke’s Episcopal and Presbyterian Hospitals, Series 2011, 5.000%, 12/01/13 | No Opt. Call | A+ | 702,758 | ||||||||||||||
720 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2012, Reg S, 5.000%, 2/15/16 | No Opt. Call | BBB+ | 784,188 | ||||||||||||||
675 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2012, 3.000%, 2/15/14 | No Opt. Call | BBB+ | 680,042 | ||||||||||||||
1,435 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, Series 2011, 4.000%, 4/01/17 | No Opt. Call | A2 | 1,585,517 | ||||||||||||||
595 | Missouri Joint Municipal Electric Utility Commission, Plum Point Project, Revenue Bonds, Series 2006, 5.000%, 1/01/16 – NPFG Insured | No Opt. Call | A | 637,638 | ||||||||||||||
1,245 | Missouri State Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Freeman Health System, Series 2012, 5.000%, 2/15/15 | No Opt. Call | BBB+ | 1,311,819 | ||||||||||||||
300 | Northwest Missouri State University, Housing System Revenue Bonds, Refunding Series 2012, 0.700%, 6/01/14 | No Opt. Call | A3 | 300,678 | ||||||||||||||
2,200 | Park Hill School District, Platte County, Missouri, General Obligation Bonds, Refunding Series 2013, 2.000%, 3/01/14 | No Opt. Call | AA+ | 2,213,750 | ||||||||||||||
2,435 | Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2011B, 5.000%, 7/01/14 | No Opt. Call | A– | 2,509,998 | ||||||||||||||
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2013: | ||||||||||||||||||
500 | 4.000%, 7/01/15 | No Opt. Call | A– | 526,820 | ||||||||||||||
235 | 5.000%, 7/01/16 | No Opt. Call | A– | 260,462 | ||||||||||||||
3,030 | Sikeston, Missouri, Electric System Revenue Refunding Bonds, Series 1996, 6.000%, 6/01/14 – NPFG Insured | No Opt. Call | A | 3,121,294 | ||||||||||||||
1,000 | Springfield School District R12, Greene County, Missouri, General Obligation Bonds, Series 2005, 5.000%, 3/01/14 – AGM Insured | No Opt. Call | AA+ | 1,016,240 | ||||||||||||||
530 | St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2012, 5.000%, 9/01/17 | No Opt. Call | A | 587,441 | ||||||||||||||
645 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2005, 5.500%, 7/01/18 – NPFG Insured | No Opt. Call | A | 762,629 | ||||||||||||||
240 | St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 2007A, 5.000%, 7/01/14 – AGM Insured | No Opt. Call | AA– | 247,507 | ||||||||||||||
950 | St. Louis, Missouri, Airport Revenue Bonds, Series 1970, 5.000%, 7/01/15 | No Opt. Call | A– | 1,016,662 | ||||||||||||||
1,500 | State of Missouri, Certificates of Participation, Refunding, Series 2011A, 1.500%, 10/01/15 | No Opt. Call | AA+ | 1,528,275 | ||||||||||||||
520 | Truman State University, Missouri, Housing System Revenue Bonds, Refunding Series 2013, 3.000%, 6/01/16 | No Opt. Call | A1 | 549,203 | ||||||||||||||
31,830 | Total Missouri | 33,280,509 | ||||||||||||||||
Montana – 0.3% | ||||||||||||||||||
1,740 | Montana Facilities Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Composite Deal Series 2010B, 5.000%, 1/01/19 | No Opt. Call | AA– | 2,020,018 | ||||||||||||||
Nebraska – 1.0% | ||||||||||||||||||
250 | Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 12/01/21 | No Opt. Call | A | 279,500 | ||||||||||||||
940 | Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 4.000%, 11/01/15 | No Opt. Call | A– | 1,002,096 | ||||||||||||||
1,125 | Nebraska Cooperative Republican Platte Enhancement, Middle Republica Natural Resources District, Platte River Flow Revenue, Series 2013, 2.000%, 12/15/16 | No Opt. Call | A+ | 1,159,020 | ||||||||||||||
2,000 | Nebraska Public Power District, General Revenue Bonds, Refunding Series 2012C, 5.000%, 1/01/16 | No Opt. Call | A1 | 2,198,260 | ||||||||||||||
1,125 | Washington County, Nebraska, Wastewater and Solid Waste Disposal Facilities Revenue Bonds, Cargill Inc. Project, Variable Rate Demand Series 2012, 1.375%, 9/01/30 (Mandatory put 9/01/15) (Alternative Minimum Tax) | No Opt. Call | A | 1,130,828 | ||||||||||||||
5,440 | Total Nebraska | 5,769,704 |
148 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Nevada – 0.6% | ||||||||||||||||||
$ | 250 | Carson City, Nevada, Hospital Revenue Refunding Bonds, Carson-Tahoe Regional Healthcare Project, Series 2012, 3.000%, 9/01/14 | No Opt. Call | BBB+ | $ | 254,368 | ||||||||||||
Las Vegas, Nevada, Special Improvement District 607 Providence, Local Improvement Refunding Bonds, Series 2013: | ||||||||||||||||||
500 | 2.000%, 6/01/15 | No Opt. Call | N/R | 492,165 | ||||||||||||||
335 | 3.000%, 6/01/16 | No Opt. Call | N/R | 331,553 | ||||||||||||||
1,500 | Nevada State, Unemployment Compensation Fund Special Revenue Bonds, Series 2013, 4.000%, 6/01/15 (WI/DD, Settling 11/07/13) | No Opt. Call | AAA | 1,587,345 | ||||||||||||||
1,150 | Reno, Nevada, General Obligation Bonds, Medium Tern Various Purpose Series 2013B, 4.000%, 6/01/16 | No Opt. Call | A1 | 1,232,904 | ||||||||||||||
3,735 | Total Nevada | 3,898,335 | ||||||||||||||||
New Jersey – 4.2% | ||||||||||||||||||
1,215 | New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey City University, Series 2010F, 2.000%, 7/01/14 – AGC Insured | No Opt. Call | A2 | 1,229,896 | ||||||||||||||
New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A: | ||||||||||||||||||
1,000 | 5.000%, 7/01/14 | No Opt. Call | BBB+ | 1,026,370 | ||||||||||||||
2,615 | 4.000%, 7/01/15 | No Opt. Call | BBB+ | 2,725,719 | ||||||||||||||
3,450 | 2.000%, 7/01/16 | No Opt. Call | BBB+ | 3,488,123 | ||||||||||||||
4,250 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.000%, 7/01/15 | No Opt. Call | BBB+ | 4,513,798 | ||||||||||||||
4,000 | New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2011-1, 5.000%, 12/01/14 (Alternative Minimum Tax) | No Opt. Call | Aa3 | 4,200,960 | ||||||||||||||
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1A: | ||||||||||||||||||
975 | 3.000%, 12/01/13 (Alternative Minimum Tax) | No Opt. Call | AA | 977,145 | ||||||||||||||
1,285 | 4.000%, 12/01/14 (Alternative Minimum Tax) | No Opt. Call | AA | 1,330,001 | ||||||||||||||
3,100 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/18 | No Opt. Call | A+ | 3,633,293 | ||||||||||||||
2,000 | Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 3.000%, 5/01/15 | No Opt. Call | AA– | 2,079,380 | ||||||||||||||
23,890 | Total New Jersey | 25,204,685 | ||||||||||||||||
New Mexico – 0.7% | ||||||||||||||||||
2,050 | New Mexico Educational Assistance Foundation, Education Loan Bonds, Senior Lien Series 2009A, 3.900%, 9/01/14 (Alternative Minimum Tax) | No Opt. Call | Aaa | 2,100,205 | ||||||||||||||
Taos County, New Mexico, Gross Receipts Tax Revenue Bonds, County Education Improvement Series 2013: | ||||||||||||||||||
550 | 2.000%, 4/01/14 – BAM Insured | No Opt. Call | AA | 552,745 | ||||||||||||||
750 | 2.000%, 4/01/15 – BAM Insured | No Opt. Call | AA | 758,753 | ||||||||||||||
750 | 3.000%, 4/01/16 – BAM Insured | No Opt. Call | AA | 779,138 | ||||||||||||||
4,100 | Total New Mexico | 4,190,841 | ||||||||||||||||
New York – 4.6% | ||||||||||||||||||
1,500 | Albany County Airport Authority, New York, Airport Revenue Bonds, Refunding Series 2010A, 3.000%, 12/15/14 – AGM Insured | No Opt. Call | AA– | 1,541,370 | ||||||||||||||
390 | Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Medaille College, Series 2012, 2.125%, 4/01/15 | No Opt. Call | BB+ | 389,887 | ||||||||||||||
380 | Build NYC Resource Corporation, New York, Revenue Bonds, Bronx Charter School for Excellence, Series 2013A, 3.000%, 4/01/18 | No Opt. Call | BBB– | 376,329 | ||||||||||||||
1,300 | Dormitory Authority of the State of New York, Insured Revenue Bonds, Pace University, Series 2013A, 4.000%, 5/01/16 | No Opt. Call | BBB– | 1,374,854 | ||||||||||||||
900 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A, 0.000%, 6/01/16 – AGM Insured | No Opt. Call | AA– | 875,664 | ||||||||||||||
150 | Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2010A, 4.000%, 5/01/15 | No Opt. Call | A– | 156,758 | ||||||||||||||
1,620 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013A, 2.000%, 11/15/14 | No Opt. Call | A | 1,650,213 | ||||||||||||||
815 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher College, Series 2012A, 3.000%, 6/01/14 | No Opt. Call | Aa3 | 824,364 | ||||||||||||||
1,035 | New York City, New York, General Obligation Bonds, Fiscal 2012 Series I, 5.000%, 8/01/14 | No Opt. Call | AA | 1,072,519 |
Nuveen Investments | 149 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
New York (continued) | ||||||||||||||||||
$ | 2,000 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New York State Electric and Gas Corporation, Series 2011A, 2.125%, 3/15/15 | No Opt. Call | A– | $ | 2,027,960 | ||||||||||||
2,500 | New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Series 2013A, 5.000%, 6/15/17 | No Opt. Call | AAA | 2,893,850 | ||||||||||||||
750 | New York State Thruway Authority, General Revenue Bonds, Series2012I, 4.000%, 1/01/15 | No Opt. Call | A1 | 780,810 | ||||||||||||||
7,050 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Second Series 2012, 5.000%, 10/01/15 (Alternative Minimum Tax) | No Opt. Call | AA– | 7,665,648 | ||||||||||||||
1,660 | Schenectady County Capital Resource Corporation, New York, FHA insured Mortgage Revenue Bonds, Ellis Hospital Project, Refunding Series 2012, 1.750%, 2/15/18 – AGM Insured | No Opt. Call | AA+ | 1,661,428 | ||||||||||||||
1,450 | St. Lawrence County Industrial Development Agency Civic Development Corporation, New York, Revenue Bonds, Clarkson University Project, Series 2012B, 2.500%, 9/01/42 (Mandatory put 3/01/16) | No Opt. Call | A3 | 1,482,843 | ||||||||||||||
450 | Westchester County Local Development Corporation, New York, Revenue Refunding Bonds, Kendal on Hudson Project, Series 2013, 2.000%, 1/01/16 | No Opt. Call | BBB | 454,343 | ||||||||||||||
1,500 | Yonkers, New York, General Obligation Bonds, Series 2011A, 5.000%, 10/01/14 | No Opt. Call | BBB+ | 1,557,900 | ||||||||||||||
1,250 | Yonkers, New York, General Obligation Refunding Bonds, Series 2012A, 4.000%, 7/01/15 | No Opt. Call | BBB+ | 1,310,975 | ||||||||||||||
26,700 | Total New York | 28,097,715 | ||||||||||||||||
North Carolina – 0.3% | ||||||||||||||||||
625 | New Hanover County, North Carolina, Hospital Revenue Bonds, New Hanover Regional Medical Center, Refunding Series 2013, 4.000%, 10/01/15 | No Opt. Call | A+ | 666,669 | ||||||||||||||
985 | North Carolina Medical Care Commission, Health Care Facilities Revenue and Refunding Revenue Bonds, Columbus Regional Healthcare System, Series 2013A, 4.000%, 10/01/15 | No Opt. Call | BBB | 1,027,907 | ||||||||||||||
1,610 | Total North Carolina | 1,694,576 | ||||||||||||||||
North Dakota – 1.5% | ||||||||||||||||||
300 | Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Refunding Series 2012A, 2.500%, 7/01/14 | No Opt. Call | BBB+ | 302,070 | ||||||||||||||
3,040 | Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 3.500%, 11/01/16 | No Opt. Call | A+ | 3,278,853 | ||||||||||||||
Williston Parks and Recreation District, North Dakota, Sales Tax & Gross Revenue Bonds, Series 2012A: | ||||||||||||||||||
115 | 1.150%, 3/01/14 | No Opt. Call | A | 115,252 | ||||||||||||||
600 | 2.000%, 3/01/15 | No Opt. Call | A | 606,702 | ||||||||||||||
2,835 | Williston, North Dakota, Limited Obligation Bonds, Certificates of Indebtedness, Series 2013A, 2.500%, 11/01/15 | 11/14 at 100.00 | N/R | 2,851,812 | ||||||||||||||
Williston, North Dakota, Sales Tax Revenue Bonds, Series 2013A: | ||||||||||||||||||
1,000 | 3.000%, 5/01/15 – AGM Insured | No Opt. Call | AA– | 1,033,790 | ||||||||||||||
1,000 | 3.000%, 5/01/16 – AGM Insured | No Opt. Call | AA– | 1,048,930 | ||||||||||||||
8,890 | Total North Dakota | 9,237,409 | ||||||||||||||||
Ohio – 2.9% | ||||||||||||||||||
1,805 | Cincinnati, Ohio, General Obligation Bonds, Various Purpose Series 2011A, 5.000%, 12/01/16 | No Opt. Call | AA+ | 2,044,072 | ||||||||||||||
785 | Cleveland State University, Ohio, General Receipts Bonds, Series 2007A, 5.750%, 6/01/14 – FGIC Insured | No Opt. Call | A+ | 810,222 | ||||||||||||||
1,000 | Cleveland, Ohio, Airport System Revenue Bonds, Series 2011A, 3.000%, 1/01/14 | No Opt. Call | A– | 1,003,930 | ||||||||||||||
490 | Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013, 3.000%, 6/15/14 | No Opt. Call | Baa2 | 497,311 | ||||||||||||||
1,000 | Ohio Air Quality Development Authority, Ohio, Air Quality Revenue Refunding Bonds, Ohio Power Company Project, Series 2010A, 3.250%, 6/01/41 (Mandatory put 6/02/14) | No Opt. Call | Baa1 | 1,011,750 | ||||||||||||||
7,005 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Corp. Project, Series 2009D, 2.250%, 8/01/29 (Mandatory put 9/15/16) | No Opt. Call | BBB– | 6,944,827 | ||||||||||||||
300 | Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Refunding Series 2009, 5.000%, 12/01/16 | No Opt. Call | A | 336,090 | ||||||||||||||
1,000 | Ohio State, Capital Facilities Lease-Appropriation Bonds, Administrative Building Fund Projects, Series 2013A, 5.000%, 10/01/17 | No Opt. Call | AA | 1,155,550 | ||||||||||||||
1,715 | Ohio State, Capital Facilities Lease-Appropriation Bonds, Cultural & Sports Facilities Building Fund Projects, Series 2013B, 5.000%, 4/01/18 | No Opt. Call | AA | 1,998,987 |
150 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Ohio (continued) | ||||||||||||||||||
$ | 1,000 | Ohio State, Capital Facilities Lease-Appropriation Bonds, Parks & Recreation Improvement Fund Projects, Series 2013A, 3.000%, 8/01/17 | No Opt. Call | AA | $ | 1,077,200 | ||||||||||||
1,000 | Warren County, Ohio ,Healthcare Facilities Revenue Refunding Bonds, Otterbein Homes Obligated Group, Series 2013A, 3.000%, 7/01/15 | No Opt. Call | A | 1,030,530 | ||||||||||||||
17,100 | Total Ohio | 17,910,469 | ||||||||||||||||
Oklahoma – 0.7% | ||||||||||||||||||
Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2013: | ||||||||||||||||||
2,050 | 5.000%, 6/01/15 | No Opt. Call | A | 2,190,917 | ||||||||||||||
845 | 5.000%, 6/01/16 | No Opt. Call | A | 931,553 | ||||||||||||||
1,125 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2009, 5.000%, 9/01/14 | No Opt. Call | AA– | 1,168,796 | ||||||||||||||
4,020 | Total Oklahoma | 4,291,266 | ||||||||||||||||
Oregon – 1.7% | ||||||||||||||||||
Emerald Peoples Utility District, Oregon, Electric System Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
475 | 3.000%, 11/01/15 | No Opt. Call | A1 | 497,012 | ||||||||||||||
1,000 | 3.000%, 11/01/16 | No Opt. Call | A1 | 1,060,730 | ||||||||||||||
2,000 | Gilliam County, Oregon, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2000A, 0.850%, 8/01/25 (Mandatory put 5/01/14) (Alternative Minimum Tax) | 6/14 at 100.00 | N/R | 1,998,400 | ||||||||||||||
660 | Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Sky Lakes Medical Center Project, Series 2012, 4.000%, 9/01/15 | No Opt. Call | BBB+ | 690,426 | ||||||||||||||
Local Oregon Capital Assets Program, Certificates of Participation, City of Cottage Grove, Oregon, Series 2013A: | ||||||||||||||||||
860 | 3.000%, 9/15/14 | No Opt. Call | Baa2 | 874,740 | ||||||||||||||
880 | 4.000%, 9/15/15 | No Opt. Call | Baa2 | 921,853 | ||||||||||||||
2,850 | Medford Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Asante Health System, Refunding Series 2010, 5.000%, 8/15/15 – AGM Insured | No Opt. Call | AA– | 3,067,455 | ||||||||||||||
360 | Multnomah County Hospital Facilities Authority, Oregon, Revenue Refunding Bond, Terwilliger Plaza, Inc., Series 2012, 2.000%, 12/01/14 | No Opt. Call | BBB | 363,618 | ||||||||||||||
1,030 | Portland, Oregon, Sewer System Revenue Bonds, Refunding Series 2007A, 5.000%, 6/01/14 – NPFG Insured | No Opt. Call | AA | 1,059,180 | ||||||||||||||
10,115 | Total Oregon | 10,533,414 | ||||||||||||||||
Pennsylvania – 5.2% | ||||||||||||||||||
1,240 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Refunding Series 2010A, 5.000%, 1/01/16 – AGM Insured (Alternative Minimum Tax) | No Opt. Call | AA– | 1,351,910 | ||||||||||||||
Economy Municipal Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2013: | ||||||||||||||||||
350 | 3.000%, 12/15/17 | No Opt. Call | AA | 373,951 | ||||||||||||||
300 | 3.000%, 12/15/18 | No Opt. Call | AA | 318,942 | ||||||||||||||
655 | Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Saint Anne’s Retirement Community, Inc. , Series 2012, 3.000%, 4/01/14 | No Opt. Call | BB+ | 653,742 | ||||||||||||||
1,465 | Marion Center Area School District, Indiana County, Pennsylvania, General Obligation Bonds, Refunding Series 2013, 2.000%, 9/01/16 | No Opt. Call | A | 1,515,103 | ||||||||||||||
2,340 | Penn Hills School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2012A, 4.000%, 10/01/14 | No Opt. Call | A1 | 2,418,858 | ||||||||||||||
220 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, 1.750%, 12/01/33 (Mandatory put 12/01/15) | No Opt. Call | BBB | 219,910 | ||||||||||||||
3,000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2011, 2.625%, 7/01/41 (Mandatory put 7/01/14) | No Opt. Call | BBB | 3,024,570 | ||||||||||||||
165 | Pennsylvania Higher Educational Facilities Authority, Pennsylvania, Revenue Bonds, Saint Francis University, Series 2012-LL2, 2.000%, 11/01/13 | No Opt. Call | BBB– | 165,000 | ||||||||||||||
840 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, AICUP Financing Program-Delaware Valley College of Science and Agriculture Project, Series 2012 LL1, 4.000%, 11/01/16 | No Opt. Call | Baa3 | 874,264 | ||||||||||||||
2,000 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Association of Independent Colleges and Universities of Pennsylvania Financing Program-Messiah College Project, Series 2001-14, 0.600%, 11/01/31 | 11/13 at 100.00 | A | 2,000,000 |
Nuveen Investments | 151 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Pennsylvania (continued) | ||||||||||||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Foundation for Student Housing at Indiana University, Project Series 2012A: | ||||||||||||||||||
$ | 100 | 3.000%, 7/01/14 | No Opt. Call | BBB+ | $ | 101,292 | ||||||||||||
320 | 3.000%, 7/01/15 | No Opt. Call | BBB+ | 328,192 | ||||||||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2013A: | ||||||||||||||||||
275 | 4.000%, 7/15/15 (WI/DD, Settling 11/07/13) | No Opt. Call | A– | 288,701 | ||||||||||||||
825 | 5.000%, 7/15/17 (WI/DD, Settling 11/07/13) | No Opt. Call | A– | 915,758 | ||||||||||||||
Pennsylvania Higher Educational Facilities Authority, Revenue Refunding Bonds, Lock Haven University Foundation Student Housing Project, Series 2013A: | ||||||||||||||||||
610 | 2.000%, 7/01/15 | No Opt. Call | BBB– | 601,802 | ||||||||||||||
540 | 3.000%, 7/01/16 | No Opt. Call | BBB– | 539,039 | ||||||||||||||
640 | 3.000%, 7/01/17 | No Opt. Call | BBB– | 634,554 | ||||||||||||||
180 | Pennsylvania Higher Educational Facilities Authority, Revenue Refunding Bonds, Lock Haven University Foundation Student Housing Project, Series 2013A, 2.000%, 7/01/14 | No Opt. Call | BBB– | 179,406 | ||||||||||||||
2,510 | Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue, Series 2011B, 3.000%, 12/01/13 | No Opt. Call | A– | 2,515,773 | �� | |||||||||||||
1,000 | Philadelphia Redevelopment Authority, Pennsylvania, Revenue Bonds, Philadelphia Neighborhood Transformation Initiative, Series 2012, 5.000%, 4/15/14 | No Opt. Call | A2 | 1,020,480 | ||||||||||||||
5,000 | Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 5.000%, 8/01/14 | No Opt. Call | A2 | 5,181,250 | ||||||||||||||
1,755 | Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 2002, 5.375%, 9/01/14 – AGM Insured | No Opt. Call | AA– | 1,830,044 | ||||||||||||||
505 | Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2012A, 3.000%, 9/01/14 | No Opt. Call | A1 | 516,201 | ||||||||||||||
Scranton, Pennsylvania, Sewer Authority Revenue Bonds, Series 2011A: | ||||||||||||||||||
250 | 2.250%, 12/01/13 – AGM Insured | No Opt. Call | AA– | 250,355 | ||||||||||||||
540 | 3.500%, 12/01/14 – AGM Insured | No Opt. Call | AA– | 556,054 | ||||||||||||||
Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding and Improvement Series 2011: | ||||||||||||||||||
1,385 | 4.000%, 8/01/15 | No Opt. Call | BBB+ | 1,430,345 | ||||||||||||||
1,440 | 4.250%, 8/01/16 | No Opt. Call | BBB+ | 1,515,082 | ||||||||||||||
30,450 | Total Pennsylvania | 31,320,578 | ||||||||||||||||
Puerto Rico – 0.6% | ||||||||||||||||||
500 | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Inter-American University of Puerto Rico Project, Refunding Series 2012, 4.000%, 10/01/14 | No Opt. Call | A– | 504,795 | ||||||||||||||
2,500 | Puerto Rico Infrastructure Financing Authority, Revenue Bonds, Ports Authority Project, Series 2011C, 3.000%, 12/15/26 (Mandatory put 12/16/13) (Alternative Minimum Tax) | No Opt. Call | BBB– | 2,489,225 | ||||||||||||||
500 | Puerto Rico Municipal Finance Agency, Series 2005B, 5.000%, 7/01/14 – CIFG Insured | No Opt. Call | AA– | 502,375 | ||||||||||||||
3,500 | Total Puerto Rico | 3,496,395 | ||||||||||||||||
Rhode Island – 0.5% | ||||||||||||||||||
Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Refunding Bonds, Board of Education General Revenue Bonds, Series 2013B: | ||||||||||||||||||
250 | 3.000%, 9/15/16 | No Opt. Call | A1 | 264,120 | ||||||||||||||
555 | 3.000%, 9/15/17 | No Opt. Call | A1 | 590,675 | ||||||||||||||
270 | Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Refunding Bonds, University of Rhode Island General Revenue Bonds, Series 2013A, 3.000%, 9/15/16 | No Opt. Call | Aa3 | 285,620 | ||||||||||||||
Rhode Island Health and Education Building Corporation, State Board of Education Auxiliary Enterprise Revenue Refunding Issue, Series 2013D: | ||||||||||||||||||
650 | 5.000%, 9/15/16 | No Opt. Call | A2 | 723,619 | ||||||||||||||
1,020 | 5.000%, 9/15/17 | No Opt. Call | A2 | 1,162,372 | ||||||||||||||
250 | Rhode Island Student Loan Authority, Student Loan Program Revenue Bonds, Senior Series 2013A, 4.000%, 12/01/15 (Alternative Minimum Tax) | No Opt. Call | A+ | 262,448 | ||||||||||||||
2,995 | Total Rhode Island | 3,288,854 |
152 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
South Carolina – 0.7% | ||||||||||||||||||
$ | 500 | South Carolina JOBS Economic Development Authority, Hospital Revenue Bonds, Bon Secours Health System Obligated Group, Series 2012, 4.000%, 11/01/15 | No Opt. Call | A– | $ | 527,290 | ||||||||||||
590 | South Carolina JOBS Economic Development Authority, Revenue Bonds, Waste Management of South Carolina, Inc. Project, Series 2008, 2.875%, 2/01/15 | No Opt. Call | BBB | 602,880 | ||||||||||||||
500 | South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding & Improvement Series 2009, 5.000%, 8/01/15 | No Opt. Call | BBB+ | 530,785 | ||||||||||||||
South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2013A: | ||||||||||||||||||
1,500 | 3.000%, 8/01/15 | No Opt. Call | BBB+ | 1,542,015 | ||||||||||||||
1,000 | 5.000%, 8/01/16 | No Opt. Call | BBB+ | 1,088,210 | ||||||||||||||
4,090 | Total South Carolina | 4,291,180 | ||||||||||||||||
South Dakota – 0.7% | ||||||||||||||||||
435 | Rapid City, South Dakota, Sales Tax Revenue Bonds, Series 2013, 2.000%, 12/01/13 | No Opt. Call | Aa3 | 435,635 | ||||||||||||||
1,305 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2009, 4.500%, 11/01/15 | No Opt. Call | A+ | 1,400,095 | ||||||||||||||
730 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community, Series 2012, 3.500%, 9/01/16 | No Opt. Call | A | 767,456 | ||||||||||||||
1,700 | South Dakota Housing Development Authority, Multiple Purpose Revenue Bonds, Series 2013A, 1.600%, 5/01/18 | No Opt. Call | Aa3 | 1,695,903 | ||||||||||||||
4,170 | Total South Dakota | 4,299,089 | ||||||||||||||||
Tennessee – 1.4% | ||||||||||||||||||
1,000 | Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2010B, 5.000%, 7/01/16 (Alternative Minimum Tax) | No Opt. Call | A | 1,098,320 | ||||||||||||||
1,290 | Memphis-Shelby County Sports Authority, Tennessee, Revenue Bonds, Memphis Arena, Refunding Series 2009B, 5.500%, 11/01/20 | 11/19 at 100.00 | AA– | 1,523,129 | ||||||||||||||
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012: | ||||||||||||||||||
500 | 2.000%, 11/01/13 | No Opt. Call | BBB+ | 500,000 | ||||||||||||||
1,000 | 2.000%, 11/01/14 | No Opt. Call | BBB+ | 1,010,090 | ||||||||||||||
1,050 | 2.000%, 11/01/15 | No Opt. Call | BBB+ | 1,063,619 | ||||||||||||||
1,000 | 3.000%, 11/01/16 | No Opt. Call | BBB+ | 1,043,480 | ||||||||||||||
500 | Metropolitan Government of Nashville-Davidson County, Tennessee, General Obligation Bonds, Refunding & Improvement Series 2010A, 4.000%, 7/01/15 | No Opt. Call | Aa1 | 531,120 | ||||||||||||||
1,800 | Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Refunding & Improvement Series 2010A, 5.000%, 7/01/16 | No Opt. Call | A | 1,978,722 | ||||||||||||||
8,140 | Total Tennessee | 8,748,480 | ||||||||||||||||
Texas – 3.2% | ||||||||||||||||||
1,000 | Brazosport Independent School District, Brazoria County, Texas, General Obligation Bonds, Series 2004, 5.000%, 2/15/20 (Pre-refunded 2/15/14) | 2/14 at 100.00 | Aaa | 1,014,040 | ||||||||||||||
1,000 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2009A, 5.000%, 11/01/21 | 11/16 at 100.00 | A+ | 1,096,840 | ||||||||||||||
3,000 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2013E, 5.000%, 11/01/16 (Alternative Minimum Tax) | No Opt. Call | A+ | 3,346,830 | ||||||||||||||
800 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men’s Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/17 | No Opt. Call | Baa3 | 885,912 | ||||||||||||||
1,000 | Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 4.000%, 7/01/15 | No Opt. Call | BBB+ | 1,038,880 | ||||||||||||||
680 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2009, 3.000%, 4/01/14 | No Opt. Call | A– | 686,705 | ||||||||||||||
2,005 | Midtown Redevelopment Authority, Texas, Tax Increment Contract Revenue, Refunding Series 2011, 4.000%, 1/01/15 | No Opt. Call | A– | 2,067,576 | ||||||||||||||
1,015 | Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series 2012, 5.000%, 10/01/14 | No Opt. Call | BBB+ | 1,054,900 |
Nuveen Investments | 153 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Texas (continued) | ||||||||||||||||||
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Series 2009A: | ||||||||||||||||||
$ | 1,425 | 4.000%, 9/01/15 – AGC Insured | No Opt. Call | AA– | $ | 1,503,917 | ||||||||||||
1,260 | 4.000%, 9/01/16 – AGC Insured | No Opt. Call | AA– | 1,360,094 | ||||||||||||||
1,405 | 4.375%, 9/01/18 – AGC Insured | No Opt. Call | AA– | 1,576,677 | ||||||||||||||
400 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2013A, 5.000%, 8/15/15 | No Opt. Call | AA- | 430,264 | ||||||||||||||
3,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/16 | No Opt. Call | A3 | 3,289,830 | ||||||||||||||
17,990 | Total Texas | 19,352,465 | ||||||||||||||||
Vermont – 0.1% | ||||||||||||||||||
815 | Vermont Housing Finance Agency, Multiple Purpose Bonds, Series 2012B, 1.900%, 11/01/16 (Alternative Minimum Tax) | No Opt. Call | AA | 820,933 | ||||||||||||||
Virgin Islands – 1.4% | ||||||||||||||||||
360 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2006, 5.000%, 10/01/15 – FGIC Insured | No Opt. Call | A | 383,342 | ||||||||||||||
6,985 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2012C, 3.000%, 10/01/17 | No Opt. Call | BBB+ | 7,223,468 | ||||||||||||||
1,035 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B, 5.000%, 10/01/19 | No Opt. Call | BBB | 1,160,132 | ||||||||||||||
8,380 | Total Virgin Islands | 8,766,942 | ||||||||||||||||
Virginia – 3.0% | ||||||||||||||||||
1,100 | Dulles Town Center Community Development Authority, Loudon County, Virginia Special Assessment Refunding Bonds, Dulles Town Center Project, Series 2012, 3.000%, 3/01/16 | No Opt. Call | N/R | 1,080,937 | ||||||||||||||
1,000 | Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, MediCorp Health System, Series 2007, 5.000%, 6/15/17 | No Opt. Call | Baa1 | 1,085,700 | ||||||||||||||
1,275 | Henrico County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health System Obligated Group, Series 2013, 4.000%, 11/01/16 | No Opt. Call | A– | 1,371,977 | ||||||||||||||
1,000 | Louisa Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Series 2008A, 5.375%, 11/01/35 (Mandatory put 12/02/13) (Pre-refunded 12/02/13) | 12/13 at 100.00 | A– (4) | 1,004,420 | ||||||||||||||
325 | Norfolk, Virginia, General Obligation Bonds, Bond Anticipation Notes Series 2011A, 2.000%, 1/01/14 (Pre-refunded 11/08/13) | 11/13 at 100.00 | AA+ (4) | 325,114 | ||||||||||||||
7,000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2006D – 1, 4.300%, 1/01/14 (Alternative Minimum Tax) | No Opt. Call | AAA | 7,037,590 | ||||||||||||||
6,000 | Virginia Public Building Authority, Public Facilities Revenue Bonds, Series 2004A, 5.000%, 8/01/14 | 2/14 at 100.00 | AA+ | 6,024,180 | ||||||||||||||
17,700 | Total Virginia | 17,929,918 | ||||||||||||||||
Washington – 1.0% | ||||||||||||||||||
400 | King and Pierce Counties School District 408 Auburn, Washington, General Obligation Bonds, Refunding Series 2013, 3.000%, 12/01/14 | No Opt. Call | Aa1 | 411,900 | ||||||||||||||
1,000 | Port of Seattle, Washington, Revenue Bonds, Refunding Inter-Lien Series 2010C, 5.000%, 2/01/16 | No Opt. Call | Aa3 | 1,097,680 | ||||||||||||||
Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Regional Health, Improvement & Refunding Series 2013A: | ||||||||||||||||||
470 | 4.000%, 12/01/16 | No Opt. Call | Baa2 | 502,355 | ||||||||||||||
1,425 | 4.000%, 12/01/17 | No Opt. Call | Baa2 | 1,528,370 | ||||||||||||||
390 | 5.000%, 12/01/18 | No Opt. Call | Baa2 | 434,027 | ||||||||||||||
205 | Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012, 4.000%, 12/01/16 | No Opt. Call | Baa3 | 218,856 | ||||||||||||||
Washington Higher Education Facilities Authority Revenue Bonds, Whitworth University Project, Series 2012: | ||||||||||||||||||
150 | 3.000%, 10/01/14 | No Opt. Call | Baa1 | 152,547 | ||||||||||||||
275 | 4.000%, 10/01/16 | No Opt. Call | Baa1 | 293,425 | ||||||||||||||
1,150 | Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009, 5.000%, 7/01/14 | No Opt. Call | Baa3 | 1,173,518 |
154 | Nuveen Investments |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Washington (continued) | ||||||||||||||||||
$ | 500 | Washington State Housing Finance Commission, Non-Profit Revenue Bonds, Emerald Heights Project, Refunding 2013, 3.000%, 7/01/15 | No Opt. Call | A– | $ | 513,420 | ||||||||||||
5,965 | Total Washington | 6,326,098 | ||||||||||||||||
West Virginia – 0.4% | ||||||||||||||||||
1,000 | Mason County, West Virginia, Pollution Control Revenue Bonds, Appalachian Power Company, Series 2003L, 2.000%, 10/01/22 (Mandatory put 10/01/14) | No Opt. Call | Baa2 | 1,009,600 | ||||||||||||||
1,500 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company – Amos Project, Series 2011A, 2.250%, 1/01/41 (Mandatory put 9/01/16) (Alternative Minimum Tax) | No Opt. Call | BBB | 1,524,840 | ||||||||||||||
2,500 | Total West Virginia | 2,534,440 | ||||||||||||||||
Wisconsin – 0.8% | ||||||||||||||||||
130 | Appleton, Wisconsin, Storm Water System Revenue Bonds, Series 2012, 2.000%, 4/01/14 | No Opt. Call | Aa2 | 130,862 | ||||||||||||||
600 | La Crosse, Wisconsin, General Obligation Bonds, Series 2012B, 2.000%, 12/01/13 | No Opt. Call | AA | 600,936 | ||||||||||||||
1,000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc., Series 2010A, 5.000%, 4/15/16 | No Opt. Call | A | 1,094,810 | ||||||||||||||
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beaver Dam Community Hospitals Inc., Series 2013A: | ||||||||||||||||||
150 | 2.000%, 8/15/14 | No Opt. Call | BBB– | 150,860 | ||||||||||||||
1,000 | 3.000%, 8/15/15 | No Opt. Call | BBB– | 1,022,050 | ||||||||||||||
610 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2010B, 5.000%, 4/01/17 | No Opt. Call | A– | 670,250 | ||||||||||||||
290 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ministry Health Care, Inc., Series 2010A, 5.000%, 8/15/15 | No Opt. Call | A+ | 310,341 | ||||||||||||||
385 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 2.000%, 8/15/14 | No Opt. Call | A– | 388,877 | ||||||||||||||
500 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Watertown Regional Medical Center, Inc., Series 2012, 2.000%, 9/01/16 | No Opt. Call | BBB+ | 510,000 | ||||||||||||||
4,665 | Total Wisconsin | 4,878,986 | ||||||||||||||||
Wyoming – 0.2% | ||||||||||||||||||
Natrona County, Wyoming, Hospital Revenue Bonds, Wyoming Medical Center Project, Series 2011: | ||||||||||||||||||
200 | 4.000%, 9/15/14 | No Opt. Call | A3 | 204,754 | ||||||||||||||
530 | 4.000%, 9/15/15 | No Opt. Call | A3 | 554,862 | ||||||||||||||
300 | 4.000%, 9/15/16 | No Opt. Call | A3 | 319,287 | ||||||||||||||
1,030 | Total Wyoming | 1,078,903 | ||||||||||||||||
$ | 562,219 | Total Long-Term Investments (cost $581,018,435) | 588,649,895 | |||||||||||||||
Shares/ Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
SHORT-TERM INVESTMENTS – 4.3% | ||||||||||||||||||
MONEY MARKET FUNDS – 1.1% | ||||||||||||||||||
6,456,438 | First American Tax Free Obligations Fund, Class Z, 0.000%, (8) | N/A | N/A | $ | 6,456,438 | |||||||||||||
MUNICIPAL BONDS – 3.2% | ||||||||||||||||||
Arizona – 0.9% | ||||||||||||||||||
$ | 5,500 | Glendale Industrial Development Authority, Arizona, Senior Living Facility Revenue Bonds, Variable Rate Demand Obligations, Friendship Retirement Corporation, Senior Lien, Series 1997, 0.180%, 1/01/27 (9) | 2/14 at 100.00 | A-1+ | 5,500,000 | |||||||||||||
California – 0.5% | ||||||||||||||||||
3,000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc., Variable Rate Demand Obligations, Series 2010A, 0.650%, 8/01/23 (Alternative Minimum Tax) (9) | No Opt. Call | A-2 | 3,000,000 |
Nuveen Investments | 155 |
Portfolio of Investments October 31, 2013 (Unaudited)
Nuveen Short Term Municipal Bond Fund (continued)
Shares/ Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||||||||||||||
Colorado – 0.3% | ||||||||||||||||||
$ | 1,900 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Denver Seminary Project, Variable Rate Demand Obligations, Series 2004, 0.180%, 7/01/34 (9) | 1/14 at 100.00 | A-1+ | $ | 1,900,000 | ||||||||||||
Iowa – 0.2% | ||||||||||||||||||
1,250 | Iowa Higher Education Loan Authority, Private Education Working Capital Loan Program, University of Dubuque, Revenue Anticipation Notes, Variable Rate Demand Obligations, Series 2013A, 3.000%, 5/15/14 (9) | No Opt. Call | SP-1 | 1,264,150 | ||||||||||||||
North Carolina – 0.6% | ||||||||||||||||||
4,000 | North Carolina Capital Facilities Financing Agency, Solid Waste Disposal Revenue Bonds, Republic Services Inc., Project, Variable Rate Demand Obligations, Series 2013, 0.850%, 6/01/38 (Alternative Minimum Tax) (9) | 3/14 at 100.00 | A-2 | 4,000,000 | ||||||||||||||
Ohio – 0.7% | ||||||||||||||||||
4,000 | Coventry Local School District, Summit County, Ohio, General Obligation Bond Anticipation Notes, Variable Rate Demand Obligations, Series 2013, 1.750%, 1/15/14 (9) | No Opt. Call | MIG2 | 4,012,040 | ||||||||||||||
$ | 19,650 | Total Municipal Bonds | 19,676,190 | |||||||||||||||
|
| |||||||||||||||||
Total Short-Term Investments (cost $26,124,723) | 26,132,628 | |||||||||||||||||
Total Investments (cost $607,143,158) – 101.1% | 614,782,523 | |||||||||||||||||
Other Assets Less Liabilities – (1.1)% | (6,948,645 | ) | ||||||||||||||||
Net Assets – 100% | $ | 607,833,878 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
(3) | Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | During July 2010, the original issue for this security (1,000,000 par, 5.500% coupon and May, 15, 2015 maturity) was restructured into two new securities. The first security, which is 30% of the original issue, has 300,000 par, 0.000% coupon and May 15, 2050 maturity. The second security, which is the remaining 70% of the issue, has a 700,000 par, 5.100% coupon and May 15, 2014 maturity. During September 2011, the Adviser concluded this issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(6) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
(7) | Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information. |
(8) | The rate shown is the annualized seven-day effective yield as of the end of the reporting period. |
(9) | Investment has a maturity of more than one year, but has variable rate and demand features which qualify it as a short-term investment. The rate disclosed is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. |
N/A | Not applicable. |
WI/DD | Investment, or a portion of investment purchased on a when-issued or delayed delivery basis. |
(ETM) | Escrowed to maturity. |
Reg S | Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of securities by both foreign and domestic issuers that are made outside the United States. |
See accompanying notes to financial statements.
156 | Nuveen Investments |
Assets and Liabilities October 31, 2013 (Unaudited)
All-American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Assets | ||||||||||||||||||||
Investments, at value (cost $2,187,748,187, $88,319,616, $3,657,179,519, $3,589,347,439 and $607,143,158, respectively) | $ | 2,248,544,187 | $ | 85,434,309 | $ | 3,761,478,651 | $ | 3,668,248,406 | $ | 614,782,523 | ||||||||||
Cash | 10,877,632 | — | 7,867,033 | 500,834 | — | |||||||||||||||
Receivable for: | ||||||||||||||||||||
Interest | 37,557,510 | 1,119,118 | 53,893,171 | 49,003,862 | 6,216,588 | |||||||||||||||
Investments sold | 16,898,528 | 245,454 | 14,644,459 | 3,735,946 | — | |||||||||||||||
Shares sold | 2,955,458 | 14,741 | 7,931,375 | 11,109,133 | 1,614,675 | |||||||||||||||
Other assets | 230,767 | 27,109 | 451,657 | 248,923 | 53,854 | |||||||||||||||
Total assets | 2,317,064,082 | 86,840,731 | 3,846,266,346 | 3,732,847,104 | 622,667,640 | |||||||||||||||
Liabilities | ||||||||||||||||||||
Cash overdraft | — | 75,973 | — | — | — | |||||||||||||||
Floating rate obligations | 18,520,000 | — | — | — | — | |||||||||||||||
Unrealized depreciation on consumer price index swaps | — | 2,545,742 | — | — | — | |||||||||||||||
Payable for: | ||||||||||||||||||||
Dividends | 2,589,335 | 1,379 | 3,520,282 | 2,053,790 | 409,238 | |||||||||||||||
Investments purchased | 1,972,860 | — | 11,256,252 | 22,867,908 | 11,495,598 | |||||||||||||||
Shares redeemed | 5,908,567 | 1,322,762 | 5,974,514 | 9,514,790 | 2,551,642 | |||||||||||||||
Accrued expenses: | ||||||||||||||||||||
Directors/Trustees fees | 110,312 | 734 | 411,457 | 201,631 | 12,102 | |||||||||||||||
Management fees | 842,008 | 7,378 | 1,412,782 | 1,134,849 | 212,472 | |||||||||||||||
12b-1 distribution and service fees | 406,236 | 15,249 | 199,771 | 541,296 | 43,938 | |||||||||||||||
Other | 639,902 | 46,613 | 712,006 | 670,324 | 108,772 | |||||||||||||||
Total liabilities | 30,989,220 | 4,015,830 | 23,487,064 | 36,984,588 | 14,833,762 | |||||||||||||||
Net assets | $ | 2,286,074,862 | $ | 82,824,901 | $ | 3,822,779,282 | $ | 3,695,862,516 | $ | 607,833,878 | ||||||||||
Class A Shares | ||||||||||||||||||||
Net assets | $ | 954,551,168 | $ | 42,474,779 | $ | 628,549,320 | $ | 1,338,446,465 | $ | 169,150,154 | ||||||||||
Shares outstanding | 88,172,676 | 4,028,814 | 70,075,109 | 121,086,073 | 16,671,583 | |||||||||||||||
Net asset value per share | $ | 10.83 | $ | 10.54 | $ | 8.97 | $ | 11.05 | $ | 10.15 | ||||||||||
Offering price per share (net asset value per share plus maximum sales charge of 4.20%, 3.00%, 3.00%, 2.50% and 2.50%, respectively, of offering price) | $ | 11.30 | $ | 10.87 | $ | 9.25 | $ | 11.33 | $ | 10.41 | ||||||||||
Class B Shares | ||||||||||||||||||||
Net assets | $ | 2,718,918 | N/A | $ | 1,478,479 | N/A | N/A | |||||||||||||
Shares outstanding | 250,714 | N/A | 164,369 | N/A | N/A | |||||||||||||||
Net asset value and offering price per share | $ | 10.84 | N/A | $ | 8.99 | N/A | N/A | |||||||||||||
Class C Shares | ||||||||||||||||||||
Net assets | $ | 376,838,776 | $ | 11,998,276 | $ | 131,806,214 | $ | 671,947,878 | $ | 30,809,959 | ||||||||||
Shares outstanding | 34,788,353 | 1,138,759 | 14,657,165 | 61,010,131 | 3,040,319 | |||||||||||||||
Net asset value and offering price per share | $ | 10.83 | $ | 10.54 | $ | 8.99 | $ | 11.01 | $ | 10.13 | ||||||||||
Class I Shares | ||||||||||||||||||||
Net assets | $ | 951,966,000 | $ | 28,351,846 | $ | 3,060,945,269 | $ | 1,685,468,173 | $ | 407,873,765 | ||||||||||
Shares outstanding | 87,606,603 | 2,686,258 | 340,360,399 | 153,246,629 | 40,200,326 | |||||||||||||||
Net asset value and offering price per share | $ | 10.87 | $ | 10.55 | $ | 8.99 | $ | 11.00 | $ | 10.15 | ||||||||||
Net assets consist of: | ||||||||||||||||||||
Capital paid-in | $ | 2,301,934,710 | $ | 89,600,784 | $ | 3,726,086,343 | $ | 3,638,072,584 | $ | 600,546,393 | ||||||||||
Undistributed (Over-distribution of) net investment income | 6,376,578 | 21,506 | 8,581,925 | 1,849,088 | 70,010 | |||||||||||||||
Accumulated net realized gain (loss) | (83,032,426 | ) | (1,366,340 | ) | (16,188,118 | ) | (22,960,123 | ) | (421,890 | ) | ||||||||||
Net unrealized appreciation (depreciation) | 60,796,000 | (5,431,049 | ) | 104,299,132 | 78,900,967 | 7,639,365 | ||||||||||||||
Net assets | $ | 2,286,074,862 | $ | 82,824,901 | $ | 3,822,779,282 | $ | 3,695,862,516 | $ | 607,833,878 | ||||||||||
Authorized shares – per class | Unlimited | Unlimited | Unlimited | Unlimited | 2 billion | |||||||||||||||
Par value per share | $ | 0.01 | $ | 0.01 | $ | 0.001 | $ | 0.01 | $ | 0.0001 |
N/A – | Fund does not offer share class. |
See accompanying notes to financial statements.
Nuveen Investments | 157 |
Operations Six Months Ended October 31, 2013 (Unaudited)
All-American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Investment Income | $ | 66,358,899 | $ | 1,578,252 | $ | 74,939,385 | $ | 48,789,371 | $ | 5,759,697 | ||||||||||
Expenses | ||||||||||||||||||||
Management fees | 5,602,615 | 233,183 | 8,070,501 | 6,807,375 | 1,226,796 | |||||||||||||||
12b-1 service fees – Class A | 1,072,709 | 54,186 | 530,316 | 1,396,433 | 159,624 | |||||||||||||||
12b-1 distribution and service fees – Class B | 16,369 | N/A | 8,216 | N/A | N/A | |||||||||||||||
12b-1 distribution and service fees – Class C | 1,608,121 | 51,404 | 539,520 | 1,926,574 | 68,759 | |||||||||||||||
Shareholder servicing agent fees and expenses | 685,400 | 40,378 | 919,183 | 869,241 | 60,551 | |||||||||||||||
Interest expense | 55,753 | — | — | — | — | |||||||||||||||
Custodian fees and expenses | 238,805 | 37,168 | 329,615 | 305,602 | 131,584 | |||||||||||||||
Directors/Trustees fees and expenses | 36,493 | 1,332 | 54,136 | 52,632 | 8,383 | |||||||||||||||
Professional fees | 131,547 | 14,746 | 77,921 | 74,432 | 16,609 | |||||||||||||||
Shareholder reporting expenses | 131,931 | 12,328 | 168,449 | 154,334 | 661 | |||||||||||||||
Federal and state registration fees | 118,367 | 40,190 | 94,198 | 168,049 | 49,680 | |||||||||||||||
Other expenses | 39,560 | 1,441 | 55,339 | 47,672 | 10,239 | |||||||||||||||
Total expenses before fee waiver/expense reimbursement | 9,737,670 | 486,356 | 10,847,394 | 11,802,344 | 1,732,886 | |||||||||||||||
Fee waiver/expense reimbursement | — | (97,749 | ) | — | — | — | ||||||||||||||
Net expenses | 9,737,670 | 388,607 | 10,847,394 | 11,802,344 | 1,732,886 | |||||||||||||||
Net investment income (loss) | 56,621,229 | 1,189,645 | 64,091,991 | 36,987,027 | 4,026,811 | |||||||||||||||
Realized and Unrealized Gain (Loss) | ||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||
Investments | (37,456,049 | ) | (870,322 | ) | (3,105,661 | ) | (1,871,842 | ) | (40,967 | ) | ||||||||||
Swaps | — | (386,700 | ) | — | — | — | ||||||||||||||
Change in net unrealized appreciation (depreciation) of: | ||||||||||||||||||||
Investments | (204,743,867 | ) | (5,524,118 | ) | (176,045,835 | ) | (74,264,709 | ) | (2,601,828 | ) | ||||||||||
Swaps | — | (1,467,884 | ) | — | — | — | ||||||||||||||
Net realized and unrealized gain (loss) | (242,199,916 | ) | (8,249,024 | ) | (179,151,496 | ) | (76,136,551 | ) | (2,642,795 | ) | ||||||||||
Net increase (decrease) in net assets from operations | $ | (185,578,687 | ) | $ | (7,059,379 | ) | $ | (115,059,505 | ) | $ | (39,149,524 | ) | $ | 1,384,016 |
N/A – | Fund does not offer share class. |
See accompanying notes to financial statements.
158 | Nuveen Investments |
Changes in Net Assets (Unaudited)
All-American | Inflation Protected | |||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Operations | ||||||||||||||||||
Net investment income (loss) | $ | 56,621,229 | $ | 112,665,777 | $ | 1,189,645 | $ | 1,162,833 | ||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investments | (37,456,049 | ) | 4,466,708 | (870,322 | ) | 40,975 | ||||||||||||
Swaps | — | — | (386,700 | ) | (152,000 | ) | ||||||||||||
Change in net unrealized appreciation (depreciation) of: | ||||||||||||||||||
Investments | (204,743,867 | ) | 87,628,674 | (5,524,118 | ) | 1,826,189 | ||||||||||||
Swaps | — | — | (1,467,884 | ) | (1,001,260 | ) | ||||||||||||
Net increase (decrease) in net assets from operations | (185,578,687 | ) | 204,761,159 | (7,059,379 | ) | 1,876,737 | ||||||||||||
Distributions to Shareholders | ||||||||||||||||||
From net investment income: | ||||||||||||||||||
Class A | (21,449,731 | ) | (46,205,698 | ) | (589,299 | ) | (620,468 | ) | ||||||||||
Class B | (55,555 | ) | (209,917 | ) | N/A | N/A | ||||||||||||
Class C | (7,296,895 | ) | (15,687,070 | ) | (109,046 | ) | (150,431 | ) | ||||||||||
Class I | (23,473,585 | ) | (52,562,816 | ) | (372,963 | ) | (491,789 | ) | ||||||||||
From accumulated net realized gains: | ||||||||||||||||||
Class A | — | — | — | (22,063 | ) | |||||||||||||
Class B | — | — | N/A | N/A | ||||||||||||||
Class C | — | — | — | (7,575 | ) | |||||||||||||
Class I | — | — | — | (16,484 | ) | |||||||||||||
Decrease in net assets from distributions to shareholders | (52,275,766 | ) | (114,665,501 | ) | (1,071,308 | ) | (1,308,810 | ) | ||||||||||
Fund Share Transactions | ||||||||||||||||||
Proceeds from sale of shares | 222,084,307 | 936,248,087 | 23,434,279 | 107,454,355 | ||||||||||||||
Proceeds from shares issued to shareholders due to reinvestment of distributions | 35,129,363 | 76,014,158 | 1,036,465 | 1,023,234 | ||||||||||||||
257,213,670 | 1,012,262,245 | 24,470,744 | 108,477,589 | |||||||||||||||
Cost of shares redeemed | (746,499,178 | ) | (549,407,373 | ) | (45,551,513 | ) | (15,260,445 | ) | ||||||||||
Net increase (decrease) in net assets from Fund share transactions | (489,285,508 | ) | 462,854,872 | (21,080,769 | ) | 93,217,144 | ||||||||||||
Net increase (decrease) in net assets | (727,139,961 | ) | 552,950,530 | (29,211,456 | ) | 93,785,071 | ||||||||||||
Net assets at the beginning of period | 3,013,214,823 | 2,460,264,293 | 112,036,357 | 18,251,286 | ||||||||||||||
Net assets at the end of period | $ | 2,286,074,862 | $ | 3,013,214,823 | $ | 82,824,901 | $ | 112,036,357 | ||||||||||
Undistributed (Over-distribution of) net investment income at the end of period | $ | 6,376,578 | $ | 2,031,115 | $ | 21,506 | $ | (96,831 | ) |
N/A – | Fund does not offer share class. |
See accompanying notes to financial statements.
Nuveen Investments | 159 |
Statement of Changes in Net Assets (Unaudited) (continued)
Intermediate Duration | Limited Term | |||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Operations | ||||||||||||||||||
Net investment income (loss) | $ | 64,091,991 | $ | 132,603,674 | $ | 36,987,027 | $ | 70,845,859 | ||||||||||
Net realized gain (loss) from: | ||||||||||||||||||
Investments | (3,105,661 | ) | 4,892,455 | (1,871,842 | ) | (1,800,625 | ) | |||||||||||
Swaps | — | — | — | — | ||||||||||||||
Change in net unrealized appreciation (depreciation) of: | ||||||||||||||||||
Investments | (176,045,835 | ) | 53,292,933 | (74,264,709 | ) | 22,813,097 | ||||||||||||
Swaps | — | — | — | — | ||||||||||||||
Net increase (decrease) in net assets from operations | (115,059,505 | ) | 190,789,062 | (39,149,524 | ) | 91,858,331 | ||||||||||||
Distributions to Shareholders | ||||||||||||||||||
From net investment income: | ||||||||||||||||||
Class A | (8,064,927 | ) | (15,847,282 | ) | (12,788,266 | ) | (27,306,390 | ) | ||||||||||
Class B | (19,974 | ) | (63,171 | ) | N/A | N/A | ||||||||||||
Class C | (1,801,181 | ) | (4,109,286 | ) | (5,117,468 | ) | (12,158,830 | ) | ||||||||||
Class I | (51,456,116 | ) | (115,311,143 | ) | (16,599,764 | ) | (31,433,207 | ) | ||||||||||
From accumulated net realized gains: | ||||||||||||||||||
Class A | — | — | — | — | ||||||||||||||
Class B | — | — | N/A | N/A | ||||||||||||||
Class C | — | — | — | — | ||||||||||||||
Class I | — | — | — | — | ||||||||||||||
Decrease in net assets from distributions to shareholders | (61,342,198 | ) | (135,330,882 | ) | (34,505,498 | ) | (70,898,427 | ) | ||||||||||
Fund Share Transactions | ||||||||||||||||||
Proceeds from sale of shares | 562,063,882 | 1,038,513,585 | 891,788,606 | 1,649,178,808 | ||||||||||||||
Proceeds from shares issued to shareholders due to reinvestment of distributions | 39,156,041 | 85,812,345 | 22,225,919 | 46,901,460 | ||||||||||||||
601,219,923 | 1,124,325,930 | 914,014,525 | 1,696,080,268 | |||||||||||||||
Cost of shares redeemed | (794,817,663 | ) | (614,364,991 | ) | (853,685,987 | ) | (959,574,505 | ) | ||||||||||
Net increase (decrease) in net assets from Fund share transactions | (193,597,740 | ) | 509,960,939 | 60,328,538 | 736,505,763 | |||||||||||||
Net increase (decrease) in net assets | (369,999,443 | ) | 565,419,119 | (13,326,484 | ) | 757,465,667 | ||||||||||||
Net assets at the beginning of period | 4,192,778,725 | 3,627,359,606 | 3,709,189,000 | 2,951,723,333 | ||||||||||||||
Net assets at the end of period | $ | 3,822,779,282 | $ | 4,192,778,725 | $ | 3,695,862,516 | $ | 3,709,189,000 | ||||||||||
Undistributed (Over-distribution of) net investment income at the end of period | $ | 8,581,925 | $ | 5,832,132 | $ | 1,849,088 | $ | (632,441 | ) |
N/A – | Fund does not offer share class. |
See accompanying notes to financial statements.
160 | Nuveen Investments |
Short Term | ||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||
Operations | ||||||||
Net investment income (loss) | $ | 4,026,811 | $ | 7,059,667 | ||||
Net realized gain (loss) from: | ||||||||
Investments | (40,967 | ) | 75,724 | |||||
Swaps | — | — | ||||||
Change in net unrealized appreciation (depreciation) of: | ||||||||
Investments | (2,601,828 | ) | 828,436 | |||||
Swaps | — | — | ||||||
Net increase (decrease) in net assets from operations | 1,384,016 | 7,963,827 | ||||||
Distributions to Shareholders | ||||||||
From net investment income: | ||||||||
Class A | (984,609 | ) | (1,139,066 | ) | ||||
Class B | N/A | N/A | ||||||
Class C | (110,834 | ) | (72,558 | ) | ||||
Class I | (2,867,310 | ) | (6,629,259 | ) | ||||
From accumulated net realized gains: | ||||||||
Class A | — | — | ||||||
Class B | N/A | N/A | ||||||
Class C | — | — | ||||||
Class I | — | — | ||||||
Decrease in net assets from distributions to shareholders | (3,962,753 | ) | (7,840,883 | ) | ||||
Fund Share Transactions | ||||||||
Proceeds from sale of shares | 345,047,997 | 433,812,513 | ||||||
Proceeds from shares issued to shareholders due to reinvestment of distributions | 1,546,848 | 1,969,999 | ||||||
346,594,845 | 435,782,512 | |||||||
Cost of shares redeemed | (231,975,622 | ) | (280,040,164 | ) | ||||
Net increase (decrease) in net assets from Fund share transactions | 114,619,223 | 155,742,348 | ||||||
Net increase (decrease) in net assets | 112,040,486 | 155,865,292 | ||||||
Net assets at the beginning of period | 495,793,392 | 339,928,100 | ||||||
Net assets at the end of period | $ | 607,833,878 | $ | 495,793,392 | ||||
Undistributed (Over-distribution of) net investment income at the end of period | $ | 70,010 | $ | 5,952 |
N/A – | Fund does not offer share class. |
See accompanying notes to financial statements.
Nuveen Investments | 161 |
Highlights (Unaudited)
Selected data for a share outstanding throughout each period:
Class (Commencement Date) | Investment Operations | Less Distributions | ||||||||||||||||||||||||||||||||
ALL-AMERICAN | ||||||||||||||||||||||||||||||||||
Year Ended April 30, | Beginning Net Asset Value | Net Investment Income (Loss)(a) | Net Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending Net Asset Value | ||||||||||||||||||||||||||
Class A (10/88) |
| |||||||||||||||||||||||||||||||||
2014(e) | $ | 11.76 | $ | .24 | $ | (.95 | ) | $ | (.71 | ) | $ | (.22 | ) | $ | — | $ | (.22 | ) | $ | 10.83 | ||||||||||||||
2013 | 11.36 | .47 | .41 | .88 | (.48 | ) | — | (.48 | ) | 11.76 | ||||||||||||||||||||||||
2012 | 10.24 | .54 | 1.13 | 1.67 | (.55 | ) | — | (.55 | ) | 11.36 | ||||||||||||||||||||||||
2011 | 10.63 | .56 | (.40 | ) | .16 | (.55 | ) | — | (.55 | ) | 10.24 | |||||||||||||||||||||||
2010 | 9.54 | .56 | 1.06 | 1.62 | (.53 | ) | — | (.53 | ) | 10.63 | ||||||||||||||||||||||||
2009 | 10.50 | .53 | (1.00 | ) | (.47 | ) | (.49 | ) | — | (.49 | ) | 9.54 | ||||||||||||||||||||||
Class B (2/97) |
| |||||||||||||||||||||||||||||||||
2014(e) | 11.78 | .20 | (.96 | ) | (.76 | ) | (.18 | ) | — | (.18 | ) | 10.84 | ||||||||||||||||||||||
2013 | 11.38 | .38 | .41 | .79 | (.39 | ) | — | (.39 | ) | 11.78 | ||||||||||||||||||||||||
2012 | 10.27 | .46 | 1.12 | 1.58 | (.47 | ) | — | (.47 | ) | 11.38 | ||||||||||||||||||||||||
2011 | 10.66 | .48 | (.39 | ) | .09 | (.48 | ) | — | (.48 | ) | 10.27 | |||||||||||||||||||||||
2010 | 9.57 | .49 | 1.06 | 1.55 | (.46 | ) | — | (.46 | ) | 10.66 | ||||||||||||||||||||||||
2009 | 10.53 | .46 | (1.01 | ) | (.55 | ) | (.41 | ) | — | (.41 | ) | 9.57 | ||||||||||||||||||||||
Class C (6/93) |
| |||||||||||||||||||||||||||||||||
2014(e) | 11.76 | .21 | (.95 | ) | (.74 | ) | (.19 | ) | — | (.19 | ) | 10.83 | ||||||||||||||||||||||
2013 | 11.37 | .40 | .41 | .81 | (.42 | ) | — | (.42 | ) | 11.76 | ||||||||||||||||||||||||
2012 | 10.24 | .48 | 1.14 | 1.62 | (.49 | ) | — | (.49 | ) | 11.37 | ||||||||||||||||||||||||
2011 | 10.63 | .50 | (.39 | ) | .11 | (.50 | ) | — | (.50 | ) | 10.24 | |||||||||||||||||||||||
2010 | 9.55 | .50 | 1.06 | 1.56 | (.48 | ) | — | (.48 | ) | 10.63 | ||||||||||||||||||||||||
2009 | 10.50 | .48 | (1.00 | ) | (.52 | ) | (.43 | ) | — | (.43 | ) | 9.55 | ||||||||||||||||||||||
Class I (2/97) |
| |||||||||||||||||||||||||||||||||
2014(e) | 11.80 | .25 | (.95 | ) | (.70 | ) | (.23 | ) | — | (.23 | ) | 10.87 | ||||||||||||||||||||||
2013 | 11.40 | .49 | .41 | .90 | (.50 | ) | — | (.50 | ) | 11.80 | ||||||||||||||||||||||||
2012 | 10.28 | .55 | 1.14 | 1.69 | (.57 | ) | — | (.57 | ) | 11.40 | ||||||||||||||||||||||||
2011 | 10.67 | .58 | (.39 | ) | .19 | (.58 | ) | — | (.58 | ) | 10.28 | |||||||||||||||||||||||
2010 | 9.58 | .58 | 1.07 | 1.65 | (.56 | ) | — | (.56 | ) | 10.67 | ||||||||||||||||||||||||
2009 | 10.54 | .55 | (1.00 | ) | (.45 | ) | (.51 | ) | — | (.51 | ) | 9.58 |
162 | Nuveen Investments |
Ratios/Supplemental Data | ||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||
Total Return(b) | Ending Net Assets (000) | Expenses Including Interest(c) | Expenses Excluding Interest | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |||||||||||||||||||
(6.02 | )% | $ | 954,551 | .73 | %* | .73 | %* | 4.31 | %* | 9 | % | |||||||||||||
7.83 | 1,230,356 | .72 | .72 | 4.01 | 17 | |||||||||||||||||||
16.68 | 969,745 | .78 | .77 | 4.98 | 18 | |||||||||||||||||||
1.53 | 350,778 | .78 | .78 | 5.34 | 26 | |||||||||||||||||||
17.36 | 352,666 | .80 | .80 | 5.46 | 33 | |||||||||||||||||||
(4.41 | ) | 303,949 | .83 | .80 | 5.48 | 31 | ||||||||||||||||||
(6.45 | ) | 2,719 | 1.48 | * | 1.48 | * | 3.53 | * | 9 | |||||||||||||||
7.05 | 4,452 | 1.47 | 1.47 | 3.30 | 17 | |||||||||||||||||||
15.70 | 8,408 | 1.54 | 1.53 | 4.29 | 18 | |||||||||||||||||||
.79 | 5,273 | 1.53 | 1.53 | 4.56 | 26 | |||||||||||||||||||
16.49 | 9,706 | 1.55 | 1.55 | 4.73 | 33 | |||||||||||||||||||
(5.14 | ) | 12,342 | 1.57 | 1.54 | 4.70 | 31 | ||||||||||||||||||
(6.30 | ) | 376,839 | 1.28 | * | 1.28 | * | 3.76 | * | 9 | |||||||||||||||
7.17 | 494,747 | 1.27 | 1.27 | 3.45 | 17 | |||||||||||||||||||
16.14 | 361,364 | 1.33 | 1.32 | 4.43 | 18 | |||||||||||||||||||
.99 | 167,535 | 1.33 | 1.33 | 4.78 | 26 | |||||||||||||||||||
16.62 | 151,025 | 1.34 | 1.34 | 4.91 | 33 | |||||||||||||||||||
(4.88 | ) | 108,149 | 1.38 | 1.35 | 4.95 | 31 | ||||||||||||||||||
(5.91 | ) | 951,966 | .53 | * | .53 | * | 4.51 | * | 9 | |||||||||||||||
8.03 | 1,283,660 | .52 | .52 | 4.22 | 17 | |||||||||||||||||||
16.71 | 1,120,747 | .56 | .55 | 5.13 | 18 | |||||||||||||||||||
1.84 | 93,633 | .58 | .58 | 5.53 | 26 | |||||||||||||||||||
17.52 | 39,683 | .59 | .59 | 5.64 | 33 | |||||||||||||||||||
(4.22 | ) | 12,027 | .63 | .60 | 5.67 | 31 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized. |
(c) | The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(e) | For the six months ended October 31, 2013. |
* | Annualized. |
See accompanying notes to financial statements.
Nuveen Investments | 163 |
Financial Highlights (Unaudited) (continued)
Selected data for a share outstanding throughout each period:
Class (Commencement Date) | Investment Operations | Less Distributions | ||||||||||||||||||||||||||||||||
INFLATION PROTECTED | ||||||||||||||||||||||||||||||||||
Year Ended April 30, | Beginning Net Asset Value | Net Investment Income (Loss)(a) | Net Gain (Loss) | Total | From Net Investment Income | From Gains | Total | Ending Net Asset Value | ||||||||||||||||||||||||||
Class A (3/11) |
| |||||||||||||||||||||||||||||||||
2014(g) | $ | 11.31 | $ | .13 | $ | (.78 | ) | $ | (.65 | ) | $ | (.12 | ) | $ | — | $ | (.12 | ) | $ | 10.54 | ||||||||||||||
2013 | 11.01 | .24 | .35 | .59 | (.28 | ) | (.01 | ) | (.29 | ) | 11.31 | |||||||||||||||||||||||
2012 | 10.36 | .33 | .66 | .99 | (.34 | ) | — | (.34 | ) | 11.01 | ||||||||||||||||||||||||
2011(e) | 10.00 | .04 | .34 | .38 | (.02 | ) | — | (.02 | ) | 10.36 | ||||||||||||||||||||||||
Class C (3/11) |
| |||||||||||||||||||||||||||||||||
2014(g) | 11.30 | .10 | (.77 | ) | (.67 | ) | (.09 | ) | — | (.09 | ) | 10.54 | ||||||||||||||||||||||
2013 | 11.00 | .18 | .35 | .53 | (.22 | ) | (.01 | ) | (.23 | ) | 11.30 | |||||||||||||||||||||||
2012 | 10.36 | .27 | .66 | .93 | (.29 | ) | — | (.29 | ) | 11.00 | ||||||||||||||||||||||||
2011(e) | 10.00 | .03 | .35 | .38 | (.02 | ) | — | (.02 | ) | 10.36 | ||||||||||||||||||||||||
Class I (3/11) |
| |||||||||||||||||||||||||||||||||
2014(g) | 11.32 | .14 | (.78 | ) | (.64 | ) | (.13 | ) | — | (.13 | ) | 10.55 | ||||||||||||||||||||||
2013 | 11.01 | .26 | .36 | .62 | (.30 | ) | (.01 | ) | (.31 | ) | 11.32 | |||||||||||||||||||||||
2012 | 10.37 | .35 | .65 | 1.00 | (.36 | ) | — | (.36 | ) | 11.01 | ||||||||||||||||||||||||
2011(e) | 10.00 | .05 | .34 | .39 | (.02 | ) | — | (.02 | ) | 10.37 |
164 | Nuveen Investments |
Ratios/Supplemental Data | ||||||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | |||||||||||||||||||||||||||||||||||||
Total Return(b) | Ending | Expenses Including Interest(d) | Expenses Excluding Interest | Net (Loss) | Expenses Including Interest(d) | Expenses Excluding Interest | Net Investment Income (Loss) | Portfolio Turnover Rate(f) | ||||||||||||||||||||||||||||||
(5.77 | )% | $ | 42,475 | .96 | %* | .96 | %* | 2.20 | %* | .77 | %* | .77 | %* | 2.39 | %* | 12 | % | |||||||||||||||||||||
5.39 | 61,926 | 1.01 | 1.01 | 1.87 | .77 | .77 | 2.11 | 9 | ||||||||||||||||||||||||||||||
9.74 | 7,339 | 1.46 | 1.46 | 2.44 | .78 | .78 | 3.13 | 14 | ||||||||||||||||||||||||||||||
3.82 | 1,801 | 4.87 | * | 4.87 | * | (1.27 | )* | .78 | * | .78 | * | 2.83 | * | 6 | ||||||||||||||||||||||||
(5.97 | ) | 11,998 | 1.52 | * | 1.52 | * | 1.65 | * | 1.32 | * | 1.32 | * | 1.85 | * | 12 | |||||||||||||||||||||||
4.81 | 15,064 | 1.57 | 1.57 | 1.33 | 1.32 | 1.32 | 1.58 | 9 | ||||||||||||||||||||||||||||||
9.07 | 4,209 | 2.03 | 2.03 | 1.87 | 1.33 | 1.33 | 2.57 | 14 | ||||||||||||||||||||||||||||||
3.78 | 1,727 | 5.44 | * | 5.44 | * | (1.82 | )* | 1.33 | * | 1.33 | * | 2.28 | * | 6 | ||||||||||||||||||||||||
(5.68 | ) | 28,352 | .77 | * | .77 | * | 2.40 | * | .57 | * | .57 | * | 2.60 | * | 12 | |||||||||||||||||||||||
5.65 | 35,046 | .82 | .82 | 2.10 | .57 | .57 | 2.35 | 9 | ||||||||||||||||||||||||||||||
9.82 | 6,704 | 1.22 | 1.22 | 2.64 | .58 | .58 | 3.28 | 14 | ||||||||||||||||||||||||||||||
3.93 | 1,728 | 4.69 | * | 4.69 | * | (1.07 | )* | .58 | * | .58 | * | 3.03 | * | 6 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. |
(d) | The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities. |
(e) | For the period March 8, 2011 (commencement of operations) through April 30, 2011. |
(f) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(g) | For the six months ended October 31, 2013. |
* | Annualized. |
See accompanying notes to financial statements.
Nuveen Investments | 165 |
Financial Highlights (Unaudited) (continued)
Selected data for a share outstanding throughout each period:
Class (Commencement Date) | Investment Operations | Less Distributions | ||||||||||||||||||||||||||||||||
INTERMEDIATE DURATION | ||||||||||||||||||||||||||||||||||
Year Ended April 30, | Beginning Net Asset Value | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain (Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending Net Asset Value | ||||||||||||||||||||||||||
Class A (6/95) |
| |||||||||||||||||||||||||||||||||
2014(f) | $ | 9.38 | $ | .14 | $ | (.41 | ) | $ | (.27 | ) | $ | (.14 | ) | $ | — | $ | (.14 | ) | $ | 8.97 | ||||||||||||||
2013 | 9.25 | .30 | .14 | .44 | (.31 | ) | — | (.31 | ) | 9.38 | ||||||||||||||||||||||||
2012 | 8.84 | .34 | .42 | .76 | (.35 | ) | — | (.35 | ) | 9.25 | ||||||||||||||||||||||||
2011 | 8.98 | .34 | (.14 | ) | .20 | (.34 | ) | — | (.34 | ) | 8.84 | |||||||||||||||||||||||
2010 | 8.54 | .35 | .43 | .78 | (.34 | ) | — | (.34 | ) | 8.98 | ||||||||||||||||||||||||
2009 | 8.78 | .34 | (.24 | ) | .10 | (.34 | ) | — | (.34 | ) | 8.54 | |||||||||||||||||||||||
Class B (2/97) |
| |||||||||||||||||||||||||||||||||
2014(f) | 9.41 | .11 | (.42 | ) | (.31 | ) | (.11 | ) | — | (.11 | ) | 8.99 | ||||||||||||||||||||||
2013 | 9.27 | .24 | .15 | .39 | (.25 | ) | — | (.25 | ) | 9.41 | ||||||||||||||||||||||||
2012 | 8.87 | .27 | .41 | .68 | (.28 | ) | — | (.28 | ) | 9.27 | ||||||||||||||||||||||||
2011 | 9.01 | .27 | (.14 | ) | .13 | (.27 | ) | — | (.27 | ) | 8.87 | |||||||||||||||||||||||
2010 | 8.57 | .28 | .43 | .71 | (.27 | ) | — | (.27 | ) | 9.01 | ||||||||||||||||||||||||
2009 | 8.81 | .28 | (.25 | ) | .03 | (.27 | ) | — | (.27 | ) | 8.57 | |||||||||||||||||||||||
Class C (6/95) |
| |||||||||||||||||||||||||||||||||
2014(f) | 9.41 | .12 | (.43 | ) | (.31 | ) | (.11 | ) | — | (.11 | ) | 8.99 | ||||||||||||||||||||||
2013 | 9.27 | .25 | .15 | .40 | (.26 | ) | — | (.26 | ) | 9.41 | ||||||||||||||||||||||||
2012 | 8.87 | .29 | .41 | .70 | (.30 | ) | — | (.30 | ) | 9.27 | ||||||||||||||||||||||||
2011 | 9.01 | .29 | (.14 | ) | .15 | (.29 | ) | — | (.29 | ) | 8.87 | |||||||||||||||||||||||
2010 | 8.57 | .30 | .43 | .73 | (.29 | ) | — | (.29 | ) | 9.01 | ||||||||||||||||||||||||
2009 | 8.80 | .30 | (.24 | ) | .06 | (.29 | ) | — | (.29 | ) | 8.57 | |||||||||||||||||||||||
Class I (11/76) |
| |||||||||||||||||||||||||||||||||
2014(f) | 9.41 | .15 | (.42 | ) | (.27 | ) | (.15 | ) | — | (.15 | ) | 8.99 | ||||||||||||||||||||||
2013 | 9.27 | .32 | .15 | .47 | (.33 | ) | — | (.33 | ) | 9.41 | ||||||||||||||||||||||||
2012 | 8.86 | .36 | .41 | .77 | (.36 | ) | — | (.36 | ) | 9.27 | ||||||||||||||||||||||||
2011 | 9.00 | .36 | (.15 | ) | .21 | (.35 | ) | — | (.35 | ) | 8.86 | |||||||||||||||||||||||
2010 | 8.56 | .36 | .43 | .79 | (.35 | ) | — | (.35 | ) | 9.00 | ||||||||||||||||||||||||
2009 | 8.79 | .36 | (.24 | ) | .12 | (.35 | ) | — | (.35 | ) | 8.56 |
166 | Nuveen Investments |
Ratios/Supplemental Data | ||||||||||||||||||||||||
Ratios to Average Net Assets(c) | ||||||||||||||||||||||||
Total Return(b) | Ending Net Assets (000) | Expenses Including Interest(d) | Expenses Excluding Interest | Net Income | Portfolio Turnover Rate(e) | |||||||||||||||||||
(2.89 | )% | $ | 628,549 | .71 | %* | .71 | %* | 3.18 | %* | 8 | % | |||||||||||||
4.83 | 512,139 | .70 | .70 | 3.24 | 15 | |||||||||||||||||||
8.68 | 450,036 | .72 | .72 | 3.70 | 10 | |||||||||||||||||||
2.21 | 373,176 | .74 | .74 | 3.82 | 6 | |||||||||||||||||||
9.24 | 374,528 | .75 | .75 | 3.91 | 5 | |||||||||||||||||||
1.22 | 324,071 | .76 | .76 | 4.03 | 6 | |||||||||||||||||||
(3.34 | ) | 1,478 | 1.46 | * | 1.46 | * | 2.43 | * | 8 | |||||||||||||||
4.19 | 1,940 | 1.46 | 1.46 | 2.52 | 15 | |||||||||||||||||||
7.75 | 3,102 | 1.47 | 1.47 | 2.95 | 10 | |||||||||||||||||||
1.46 | 5,283 | 1.49 | 1.49 | 3.05 | 6 | |||||||||||||||||||
8.40 | 11,040 | 1.50 | 1.50 | 3.16 | 5 | |||||||||||||||||||
.43 | 14,204 | 1.51 | 1.51 | 3.26 | 6 | |||||||||||||||||||
(3.25 | ) | 131,806 | 1.26 | * | 1.26 | * | 2.62 | * | 8 | |||||||||||||||
4.39 | 158,004 | 1.25 | 1.25 | 2.69 | 15 | |||||||||||||||||||
7.96 | 134,478 | 1.27 | 1.27 | 3.14 | 10 | |||||||||||||||||||
1.66 | 110,310 | 1.29 | 1.29 | 3.27 | 6 | |||||||||||||||||||
8.62 | 100,047 | 1.30 | 1.30 | 3.35 | 5 | |||||||||||||||||||
.76 | 71,165 | 1.31 | 1.31 | 3.48 | 6 | |||||||||||||||||||
(2.89 | ) | 3,060,945 | .51 | * | .51 | * | 3.37 | * | 8 | |||||||||||||||
5.13 | 3,520,696 | .50 | .50 | 3.44 | 15 | |||||||||||||||||||
8.87 | 3,039,743 | .52 | .52 | 3.91 | 10 | |||||||||||||||||||
2.41 | 2,013,504 | .54 | .54 | 4.02 | 6 | |||||||||||||||||||
9.41 | 2,044,122 | .55 | .55 | 4.11 | 5 | |||||||||||||||||||
1.51 | 1,916,368 | .56 | .56 | 4.21 | 6 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized. |
(c) | The Fund has a contractural fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee waiver/expense reimbursement during the periods presented herein. |
(d) | The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities. |
(e) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(f) | For the six months ended October 31, 2013. |
* | Annualized. |
See accompanying notes to financial statements.
Nuveen Investments | 167 |
Financial Highlights (Unaudited) (continued)
Selected data for a share outstanding throughout each period:
Class (Commencement Date) | Investment Operations | Less Distributions | ||||||||||||||||||||||||||||||||
LIMITED TERM | ||||||||||||||||||||||||||||||||||
Year Ended April 30, | Beginning Net Asset Value | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain(Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending Net Asset Value | ||||||||||||||||||||||||||
Class A (10/87) |
| |||||||||||||||||||||||||||||||||
2014(e) | $ | 11.27 | $ | .11 | $ | (.23 | ) | $ | (.12 | ) | $ | (.10 | ) | $ | — | $ | (.10 | ) | $ | 11.05 | ||||||||||||||
2013 | 11.20 | .24 | .07 | .31 | (.24 | ) | — | (.24 | ) | 11.27 | ||||||||||||||||||||||||
2012 | 10.85 | .29 | .34 | .63 | (.28 | ) | — | (.28 | ) | 11.20 | ||||||||||||||||||||||||
2011 | 10.85 | .30 | (.01 | ) | .29 | (.29 | ) | — | (.29 | ) | 10.85 | |||||||||||||||||||||||
2010 | 10.60 | .32 | .28 | .60 | (.35 | ) | — | (.35 | ) | 10.85 | ||||||||||||||||||||||||
2009 | 10.63 | .38 | (.03 | ) | .35 | (.38 | ) | — | (.38 | ) | 10.60 | |||||||||||||||||||||||
Class C (12/95) |
| |||||||||||||||||||||||||||||||||
2014(e) | 11.23 | .09 | (.23 | ) | (.14 | ) | (.08 | ) | — | (.08 | ) | 11.01 | ||||||||||||||||||||||
2013 | 11.15 | .20 | .08 | .28 | (.20 | ) | — | (.20 | ) | 11.23 | ||||||||||||||||||||||||
2012 | 10.81 | .25 | .34 | .59 | (.25 | ) | — | (.25 | ) | 11.15 | ||||||||||||||||||||||||
2011 | 10.82 | .26 | (.02 | ) | .24 | (.25 | ) | — | (.25 | ) | 10.81 | |||||||||||||||||||||||
2010 | 10.57 | .28 | .28 | .56 | (.31 | ) | — | (.31 | ) | 10.82 | ||||||||||||||||||||||||
2009 | 10.60 | .34 | (.03 | ) | .31 | (.34 | ) | — | (.34 | ) | 10.57 | |||||||||||||||||||||||
Class I (2/97) |
| |||||||||||||||||||||||||||||||||
2014(e) | 11.21 | .12 | (.22 | ) | (.10 | ) | (.11 | ) | — | (.11 | ) | 11.00 | ||||||||||||||||||||||
2013 | 11.13 | .26 | .08 | .34 | (.26 | ) | — | (.26 | ) | 11.21 | ||||||||||||||||||||||||
2012 | 10.79 | .31 | .33 | .64 | (.30 | ) | — | (.30 | ) | 11.13 | ||||||||||||||||||||||||
2011 | 10.79 | .32 | (.01 | ) | .31 | (.31 | ) | — | (.31 | ) | 10.79 | |||||||||||||||||||||||
2010 | 10.54 | .34 | .28 | .62 | (.37 | ) | — | (.37 | ) | 10.79 | ||||||||||||||||||||||||
2009 | 10.57 | .40 | (.03 | ) | .37 | (.40 | ) | — | (.40 | ) | 10.54 |
168 | Nuveen Investments |
Ratios/Supplemental Data | ||||||||||||||||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||||||
Total Return(b) | Ending Net Assets (000) | Expenses Including Interest(c) | Expenses Excluding Interest | Net Investment Income (Loss) | Portfolio Turnover Rate(d) | |||||||||||||||||||
(1.04 | )% | $ | 1,338,446 | .65 | %* | .65 | %* | 1.95 | %* | 10 | % | |||||||||||||
2.79 | 1,438,077 | .66 | .66 | 2.10 | 12 | |||||||||||||||||||
5.88 | 1,113,802 | .66 | .66 | 2.63 | 12 | |||||||||||||||||||
2.68 | 953,517 | .68 | .68 | 2.72 | 13 | |||||||||||||||||||
5.73 | 1,001,241 | .71 | .71 | 2.98 | 10 | |||||||||||||||||||
3.38 | 615,646 | .72 | .72 | 3.59 | 11 | |||||||||||||||||||
(1.23 | ) | 671,948 | 1.00 | * | 1.00 | * | 1.60 | * | 10 | |||||||||||||||
2.51 | 721,302 | 1.01 | 1.01 | 1.76 | 12 | |||||||||||||||||||
5.45 | 641,602 | 1.01 | 1.01 | 2.29 | 12 | |||||||||||||||||||
2.26 | 566,098 | 1.03 | 1.03 | 2.37 | 13 | |||||||||||||||||||
5.39 | 509,512 | 1.06 | 1.06 | 2.63 | 10 | |||||||||||||||||||
3.04 | 282,951 | 1.07 | 1.07 | 3.24 | 11 | |||||||||||||||||||
(.88 | ) | 1,685,468 | .45 | * | .45 | * | 2.15 | * | 10 | |||||||||||||||
3.07 | 1,549,809 | .46 | .46 | 2.31 | 12 | |||||||||||||||||||
6.00 | 1,196,319 | .46 | .46 | 2.83 | 12 | |||||||||||||||||||
2.87 | 812,730 | .48 | .48 | 2.92 | 13 | |||||||||||||||||||
5.94 | 694,430 | .51 | .51 | 3.16 | 10 | |||||||||||||||||||
3.59 | 332,373 | .52 | .52 | 3.78 | 11 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized. |
(c) | The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities. |
(d) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(e) | For the six months ended October 31, 2013. |
* | Annualized. |
See accompanying notes to financial statements.
Nuveen Investments | 169 |
Financial Highlights (Unaudited) (continued)
Selected data for a share outstanding throughout each period:
Class (Commencement Date) | Investment Operations | Less Distributions | ||||||||||||||||||||||||||||||||
SHORT TERM | ||||||||||||||||||||||||||||||||||
Beginning Net Asset Value | Net Investment Income (Loss)(a) | Net Realized/ Unrealized Gain(Loss) | Total | From Net Investment Income | From Accumulated Net Realized Gains | Total | Ending Net Asset Value | |||||||||||||||||||||||||||
Class A (10/02) |
| |||||||||||||||||||||||||||||||||
Year Ended 4/30 |
| |||||||||||||||||||||||||||||||||
2014(g) | $ | 10.20 | $ | .06 | $ | (.05 | ) | $ | .01 | $ | (.06 | ) | $ | — | $ | (.06 | ) | $ | 10.15 | |||||||||||||||
2013 | 10.19 | .15 | .04 | .19 | (.18 | ) | — | (.18 | ) | 10.20 | ||||||||||||||||||||||||
2012 | 9.98 | .20 | .21 | .41 | (.20 | ) | — | (.20 | ) | 10.19 | ||||||||||||||||||||||||
2011(d) | 9.98 | .16 | (.02 | ) | .14 | (.14 | ) | — | (.14 | ) | 9.98 | |||||||||||||||||||||||
Year Ended 6/30 |
| |||||||||||||||||||||||||||||||||
2010 | 9.74 | .20 | .22 | .42 | (.18 | ) | — | (.18 | ) | 9.98 | ||||||||||||||||||||||||
2009 | 9.79 | .28 | (.07 | ) | .21 | (.26 | ) | — | (.26 | ) | 9.74 | |||||||||||||||||||||||
2008 | 9.70 | .30 | .10 | .40 | (.31 | ) | — | (.31 | ) | 9.79 | ||||||||||||||||||||||||
Class C (8/11) |
| |||||||||||||||||||||||||||||||||
Year Ended 4/30 |
| |||||||||||||||||||||||||||||||||
2014(g) | 10.18 | .04 | (.04 | ) | — | (.05 | ) | — | (.05 | ) | 10.13 | |||||||||||||||||||||||
2013 | 10.18 | .11 | .03 | .14 | (.14 | ) | — | (.14 | ) | 10.18 | ||||||||||||||||||||||||
2012(e) | 10.13 | .10 | .06 | .16 | (.11 | ) | — | (.11 | ) | 10.18 | ||||||||||||||||||||||||
Class I (10/02) |
| |||||||||||||||||||||||||||||||||
Year Ended 4/30 |
| |||||||||||||||||||||||||||||||||
2014(g) | 10.20 | .07 | (.05 | ) | .02 | (.07 | ) | — | (.07 | ) | 10.15 | |||||||||||||||||||||||
2013 | 10.19 | .18 | .03 | .21 | (.20 | ) | — | (.20 | ) | 10.20 | ||||||||||||||||||||||||
2012 | 9.98 | .23 | .20 | .43 | (.22 | ) | — | (.22 | ) | 10.19 | ||||||||||||||||||||||||
2011(d) | 9.98 | .17 | (.02 | ) | .15 | (.15 | ) | — | (.15 | ) | 9.98 | |||||||||||||||||||||||
Year Ended 6/30 |
| |||||||||||||||||||||||||||||||||
2010 | 9.74 | .20 | .24 | .44 | (.20 | ) | — | (.20 | ) | 9.98 | ||||||||||||||||||||||||
2009 | 9.79 | .27 | (.05 | ) | .22 | (.27 | ) | — | (.27 | ) | 9.74 | |||||||||||||||||||||||
2008 | 9.70 | .31 | .10 | .41 | (.32 | ) | — | (.32 | ) | 9.79 |
170 | Nuveen Investments |
Ratios/Supplemental Data | ||||||||||||||||||||||||||||||
Ratios to Average Net Assets Before Waiver/Reimbursement | Ratios to Average Net Assets After Waiver/Reimbursement(c) | |||||||||||||||||||||||||||||
Total Return(b) | Ending Net Assets (000) | Expenses | Net Investment Income (Loss) | Expenses | Net Investment Income (Loss) | Portfolio Turnover Rate(f) | ||||||||||||||||||||||||
.13 | % | $ | 169,150 | .71 | %* | 1.23 | %* | .71 | %* | 1.23 | %* | 20 | % | |||||||||||||||||
1.88 | 101,836 | .73 | 1.49 | .73 | 1.49 | 30 | ||||||||||||||||||||||||
4.15 | 34,793 | .73 | 2.01 | .73 | 2.01 | 39 | ||||||||||||||||||||||||
1.41 | 7,790 | .89 | * | 1.73 | * | .71 | * | 1.91 | * | 21 | ||||||||||||||||||||
4.38 | 7,168 | 1.06 | 1.49 | .74 | 1.81 | 45 | ||||||||||||||||||||||||
2.17 | 3,376 | 1.11 | 2.35 | .75 | 2.71 | 70 | ||||||||||||||||||||||||
4.17 | 2,308 | 1.11 | 2.69 | .75 | 3.05 | 58 | ||||||||||||||||||||||||
(.05 | ) | 30,810 | 1.06 | * | .88 | * | 1.06 | * | .88 | * | 20 | |||||||||||||||||||
1.42 | 10,618 | 1.08 | 1.10 | 1.08 | 1.10 | 30 | ||||||||||||||||||||||||
1.61 | 1,026 | 1.07 | * | 1.49 | * | 1.07 | * | 1.49 | * | 39 | ||||||||||||||||||||
.22 | 407,874 | .51 | * | 1.44 | * | .51 | * | 1.44 | * | 20 | ||||||||||||||||||||
2.06 | 383,339 | .53 | 1.74 | .53 | 1.74 | 30 | ||||||||||||||||||||||||
4.33 | 304,109 | .53 | 2.27 | .53 | 2.27 | 39 | ||||||||||||||||||||||||
1.54 | 277,347 | .67 | * | 1.94 | * | .55 | * | 2.06 | * | 21 | ||||||||||||||||||||
4.53 | 310,783 | .81 | 1.74 | .59 | 1.96 | 45 | ||||||||||||||||||||||||
2.32 | 178,950 | .86 | 2.58 | .60 | 2.84 | 70 | ||||||||||||||||||||||||
4.33 | 143,985 | .86 | 2.94 | .60 | 3.20 | 58 |
(a) | Per share Net Investment Income (Loss) is calculated using the average daily shares method. |
(b) | Total return is the combination of changes in net asset value without any sales charge, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. Total returns are not annualized. |
(c) | After fee waiver and/or expense reimbursement from the Adviser, where applicable. |
(d) | For the ten months ended April 30, 2011. |
(e) | For the period August 31, 2011 (commencement of operations) through April 30, 2012. |
(f) | Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period. |
(g) | For the six months ended October 31, 2013. |
* | Annualized. |
See accompanying notes to financial statements.
Nuveen Investments | 171 |
Financial Statements (Unaudited)
1. General Information and Significant Accounting Policies
General Information
Trust Information
The Nuveen Municipal Trust and the Nuveen Investment Funds, Inc. (each a “Trust” and collectively, the “Trusts”), are open-end investment companies registered under the Investment Company Act of 1940, as amended. The Nuveen Municipal Trust is comprised of the Nuveen All-American Municipal Bond Fund (“All-American”), Nuveen Inflation Protected Municipal Bond Fund (“Inflation Protected”), Nuveen Intermediate Duration Municipal Bond Fund (“Intermediate Duration”) and Nuveen Limited Term Municipal Bond Fund (“Limited Term”), among others, and the Nuveen Investment Funds, Inc is comprised of the Nuveen Short Term Municipal Bond Fund (“Short Term”), among others, (each a “Fund” and collectively, the “Funds”), as diversified funds (non-diversified for Inflation Protected). The Nuveen Municipal Trust was organized as a Massachusetts business trust on July 1, 1996. Nuveen Investment Funds, Inc. was incorporated in the State of Maryland on August 20, 1987. The Funds, with the exception of Inflation Protected, were each organized as a series of predecessor trusts or corporations prior to that date.
Investment Adviser
The Adviser is responsible for each Fund’s overall investment strategy and asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the “Sub-Adviser”), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.
Fund Information
All-American’s, Intermediate Duration’s and Limited Term’s investment objective is to provide as high a level of current interest income exempt from regular federal income taxes as is consistent with preservation of capital. Under normal market conditions, each Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax. Each Fund may invest without limit in securities that generate income subject to the alternative minimum tax. All American will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity of greater than 10 years. Intermediate Duration generally intends to maintain a weighted average portfolio duration between 4.5 and 7 years. Limited Term generally invests in bonds with short- to intermediate-term maturities. Limited Term will attempt to maintain the weighted average maturity of its portfolio securities at 3 to 7 years under normal market conditions. Each Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency, or, if unrated, judged by the Sub-Adviser, to be of comparable quality. Each Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as “high yield” or “junk” bonds. Each Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (i.e., inverse floating rate securities).
Inflation Protected’s investment objective is to provide after-tax total return, protected from inflation, through a combination of federally tax-exempt income and inflation-linked investments. Under normal market conditions, the Fund invests at least 80% of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund generally invests in intermediate and long-term bonds with a duration of between two and ten years, and generally maintain a weighted average duration of between four and seven years. The Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency, or, if unrated, judged by the Sub-Adviser to be of comparable quality. The Fund may invest up to 20% of its net assets in below-investment grade municipal bonds, commonly referred to as “high yield” or “junk” bonds.
Short Term’s investment objective is to provide current income that is exempt from federal income tax to the extent consistent with preservation of capital. Under normal market conditions, as a fundamental policy, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal securities that pay interest that is exempt from regular federal personal income tax. The Fund normally may invest up to 20% of its net assets in taxable obligations, including obligations the interest on which is subject to the federal alternative minimum tax. The Fund will attempt to maintain the weighted average maturity of its portfolio securities at three years or less under normal market conditions. The Fund invests mainly in securities that, at the time of purchase, are either rated investment grade or are unrated and determined to be of comparable quality by the Sub-Adviser. However, the Fund may invest up to 20% of its total assets in securities that, at the time of purchase, are rated
172 | Nuveen Investments |
lower than investment grade or are unrated and of comparable quality, commonly referred to as “high yield” or “junk” bonds. The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (i.e., inverse floating rate securities).
All-American, Intermediate Duration, Limited Term and Short Term may utilize futures contracts and options on futures contracts in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Fund’s portfolio.
The Funds’ most recent prospectus provides further descriptions of each Fund’s investment objective, principal investment strategies, and principal risks.
Significant Accounting Policies
The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”).
Investment Transactions
Investment transactions are recorded on a trade date basis. Realized gains and losses from investment transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have instructed the custodian to earmark securities in the Funds’ portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments. As of October 31, 2013, the Funds’ outstanding when-issued/delayed delivery purchase commitments were as follows:
All- American | Intermediate Duration | Limited Term | Short Term | |||||||||||||
Outstanding when-issued/delayed delivery purchase commitments | $ | 1,972,860 | $ | 5,512,793 | $ | 20,594,607 | $ | 8,541,832 |
Investment Income
Dividend income is recorded on the ex-dividend date. Interest income, which reflects the amortization of premiums and includes accretion of discounts for financial reporting purposes, is recorded on an accrual basis. Interest income also reflects paydown gains and losses, if any.
Professional Fees
Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders. Should a Fund receive a refund of workout expenditures paid in a prior reporting period, such amounts will be recognized as “Legal fee refund” on the Statement of Operations.
Dividends and Distributions to Shareholders
The Funds declare dividends from their net investment income daily and pay shareholders monthly. Fund shares begin to accrue dividends on the business day after the day when the monies used to purchase Fund shares are collected by the Funds’ transfer agent.
Net realized capital gains and/or market discount from investment transactions, if any, are declared and distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carryforwards.
Distributions to shareholders of net investment income, net realized capital gains and/or market discount, if any, are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.
Share Classes and Sales Charges
Class A Shares are generally sold with an up-front sales charge and incur a .20% annual 12b-1 service fee. Class A Share purchases of $1 million or more ($250,000 for Limited Term and Short Term) are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (“CDSC”) if redeemed within eighteen months of purchase. All-American and Intermediate Duration will issue Class B Shares upon the exchange of Class B Shares from another Nuveen mutual fund or for purposes of dividend reinvestment, but Class B Shares are not available for new accounts or for additional investment into existing accounts. Class B Shares were sold without an up-front sales charge but incur a .75% annual 12b-1 distribution fee and a .20% annual 12b-1 service fee. Class B Shares are subject to a CDSC of up to 5% depending upon the length of time the shares are held by the investor (CDSC is reduced to 0% at the end of six years). Class B Shares automatically convert to Class A Shares eight years after purchase. Class C Shares are sold without an up-front sales charge but incur a .55% (.35% for Limited Term and Short Term) annual 12b-1 distribution fee and a .20% annual 12b-1 service fee. Class C Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class I Shares are not subject to any sales charge or 12b-1 distribution or service fees.
Nuveen Investments | 173 |
Notes to Financial Statements (Unaudited) (continued)
Multiclass Operations and Allocations
Income and expenses of the Funds that are not directly attributable to a specific class of shares are prorated among the classes based on the relative settled shares of each class. Expenses directly attributable to a class of shares, which presently only include 12b-1 distribution and service fees, are recorded to the specific class.
Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.
Indemnifications
Under each Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide general indemnifications to other parties. Each Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
Netting Arrangements
In the ordinary course of business, the Funds have entered into transactions subject to enforceable International Swaps and Derivative Association, Inc. (“ISDA”) master agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows each Fund to offset any exposure to a specific counterparty with any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, a Fund manages its cash collateral and securities collateral on a counterparty basis. As of October 31, 2013, the Funds were not invested in any portfolio securities or derivatives, other than the swap contracts further described in Note 3 – Portfolio Securities and Investments in Derivatives, Consumer Price Index Swaps that are subject to netting agreements.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results may differ from those estimates.
2. Investment Valuation and Fair Value Measurements
Investment Valuation
Prices of municipal bonds, other fixed-income securities and swap contracts are provided by a pricing service approved by the Funds’ Board of Directors/Trustees. These securities are generally classified as Level 2. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity, provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs.
Investments in investment companies are valued at their respective net asset values on the valuation date. These investment vehicles are generally classified as Level 1.
Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Funds’ Board of Directors/Trustees or its designee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s net asset value (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security’s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Funds’ Board of Directors/Trustees or its designee.
174 | Nuveen Investments |
Fair Value Measurements
Fair value is defined as the price that the Funds would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of each Fund’s fair value measurements as of the end of the reporting period:
All-American | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments*: | ||||||||||||||||
Municipal Bonds | $ | — | $ | 2,248,401,476 | $ | 114,478 | $ | 2,248,515,954 | ||||||||
Corporate Bonds | — | — | 28,233 | 28,233 | ||||||||||||
Total | $ | — | $ | 2,248,401,476 | $ | 142,711 | $ | 2,248,544,187 | ||||||||
Inflation Protected | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments*: | ||||||||||||||||
Municipal Bonds | $ | — | $ | 85,434,309 | $ | — | $ | 85,434,309 | ||||||||
Derivatives: | ||||||||||||||||
Consumer Price Index Swaps** | — | (2,545,742 | ) | — | (2,545,742 | ) | ||||||||||
Total | $ | — | $ | 82,888,567 | $ | — | $ | 82,888,567 | ||||||||
Intermediate Duration | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments*: | ||||||||||||||||
Municipal Bonds | $ | — | $ | 3,743,417,497 | $ | 7,027,662 | $ | 3,750,445,159 | ||||||||
Corporate Bonds | — | — | 43,492 | 43,492 | ||||||||||||
Short-Term Investments*: | ||||||||||||||||
Municipal Bonds | — | 10,990,000 | — | 10,990,000 | ||||||||||||
Total | $ | — | $ | 3,754,407,497 | $ | 7,071,154 | $ | 3,761,478,651 | ||||||||
Limited Term | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments*: | ||||||||||||||||
Municipal Bonds | $ | — | $ | 3,560,701,584 | $ | — | $ | 3,560,701,584 | ||||||||
Corporate Bonds | — | — | 26,822 | 26,822 | ||||||||||||
Short-Term Investments*: | ||||||||||||||||
Municipal Bonds | — | 107,520,000 | — | 107,520,000 | ||||||||||||
Total | $ | — | $ | 3,668,221,584 | $ | 26,822 | $ | 3,668,248,406 | ||||||||
Short Term | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Long-Term Investments*: | ||||||||||||||||
Municipal Bonds | $ | — | $ | 588,597,033 | $ | 52,862 | $ | 588,649,895 | ||||||||
Short-Term Investments*: | ||||||||||||||||
Money Market Funds | 6,456,438 | — | — | 6,456,438 | ||||||||||||
Municipal Bonds | — | 19,676,190 | — | 19,676,190 | ||||||||||||
Total | $ | 6,456,438 | $ | 608,273,223 | $ | 52,862 | $ | 614,782,523 |
* | Refer to the Fund’s Portfolio of Investments for state classifications and breakdown of Municipal Bonds and Corporate Bonds classified as Level 3, where applicable. |
** | Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments. |
Nuveen Investments | 175 |
Notes to Financial Statements (Unaudited) (continued)
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making a fair value determination, based on the facts and circumstances specific to the portfolio instrument. Fair value determinations generally will be derived as follows, using public or private market information:
(i) | If available, fair value determinations shall be derived by extrapolating from recent transactions or quoted prices for identical or comparable securities. |
(ii) | If such information is not available, an analytical valuation methodology may be used based on other available information including, but not limited to: analyst appraisals, research reports, corporate action information, issuer financial statements and shelf registration statements. Such analytical valuation methodologies may include, but are not limited to: multiple of earnings, discount from market value of a similar freely-traded security, discounted cash flow analysis, book value or a multiple thereof, risk premium/yield analysis, yield to maturity and/or fundamental investment analysis. |
The purchase price of a portfolio instrument will be used to fair value the instrument only if no other valuation methodology is available or deemed appropriate, and it is determined that the purchase price fairly reflects the instrument’s current value.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
3. Portfolio Securities and Investments in Derivatives
Portfolio Securities
Inverse Floating Rate Securities
Each Fund (except Inflation Protected) is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. In turn, this trust (a) issues floating rate certificates, in face amounts equal to some fraction of the deposited bond’s par amount or market value, that typically pay short-term tax-exempt interest rates to third parties, and (b) issues to a long-term investor (such as one of the Funds) an inverse floating rate certificate (sometimes referred to as an “inverse floater”) that represents all remaining or residual interest in the trust. The income received by the inverse floater holder varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the inverse floater holder bears substantially all of the underlying bond’s downside investment risk and also benefits disproportionately from any potential appreciation of the underlying bond’s value. The price of an inverse floating rate security will be more volatile than that of the underlying bond because the interest rate is dependent on not only the fixed coupon rate of the underlying bond but also on the short-term interest paid on the floating rate certificates, and because the inverse floating rate security essentially bears the risk of loss of the greater face value of the underlying bond.
A Fund may purchase an inverse floating rate security in a secondary market transaction without first owning the underlying bond (referred to as an “externally-deposited inverse floater”), or instead by first selling a fixed-rate bond to a broker-dealer for deposit into the special purpose trust and receiving in turn the residual interest in the trust (referred to as a “self-deposited inverse floater”). The inverse floater held by a Fund gives the Fund the right (a) to cause the holders of the floating rate certificates to tender their notes at par, and (b) to have the broker transfer the fixed-rate bond held by the trust to the Fund, thereby collapsing the trust. An investment in an externally-deposited inverse floater is identified in the Portfolio of Investments as “(IF) – Inverse floating rate investment.” An investment in a self-deposited inverse floater is accounted for as a financing transaction. In such instances, a fixed-rate bond deposited into a special purpose trust is identified in the Portfolio of Investments as “(UB) – Underlying bond of an inverse floating rate trust reflected as a financing transaction,” with the Fund accounting for the short-term floating rate certificates issued by the trust, at their liquidation value, as “Floating rate obligations” on the Statement of Assets and Liabilities. In addition, the Fund reflects in “Investment Income” the entire earnings of the underlying bond and related interest paid to the holders of the short-term floating rate certificates as a component of “Interest expense” on the Statement of Operations.
During the six months ended October 31, 2013, All-American and Intermediate Duration invested in externally-deposited inverse floaters and/or self-deposited inverse floaters.
176 | Nuveen Investments |
Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a “recourse trust” or “credit recovery swap”) (such agreements referred to herein as “Recourse Trusts”) with a broker-dealer by which a Fund agrees to reimburse the broker-dealer, in certain circumstances, for the difference between the liquidation value of the fixed-rate bond held by the trust and the liquidation value of the floating rate certificates issued by the trust plus any shortfalls in interest cash flows. Under these agreements, a Fund’s potential exposure to losses related to or on inverse floaters may increase beyond the value of a Fund’s inverse floater investments as a Fund may potentially be liable to fulfill all amounts owed to holders of the floating rate certificates. At period end, any such shortfall is recognized as “Unrealized depreciation on Recourse Trusts” on the Statement of Assets and Liabilities.
As of October 31, 2013, each Fund’s maximum exposure to the floating rate obligations issued by externally-deposited Recourse Trusts was as follows:
All-American | Intermediate Duration | |||||||
Maximum exposure to Recourse Trusts | $ | 75,505,000 | $ | 11,250,000 |
The average floating rate obligations outstanding and average annual interest rate and fees related to self-deposited inverse floaters for the following Fund during the six months ended October 31, 2013, were as follows:
All-American | ||||
Average floating rate obligations outstanding | $ | 18,520,000 | ||
Average annual interest rate and fees | .60 | % |
Zero Coupon Securities
Each Fund is authorized to invest in zero coupon securities. A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.
Investments in Derivatives
Each Fund is authorized to invest in certain derivative instruments. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds’ investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.
Consumer Price Index Swaps
Inflation Protected seeks to hedge inflation risk by investing in inflation-linked instruments, such as Consumer Price Index (“CPI”) swaps, in amounts sufficient to approximate the duration characteristics of the Fund’s underlying municipal bond portfolio. A CPI swap is a fixed maturity, over-the-counter derivative in which the Fund pays to the counterparty a predetermined fixed annualized rate over the life of the CPI swap and receives in return the “realized” rate of inflation as measured by the Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted over the life of the swap. The Fund will benefit from a CPI swap if actual inflation during the swap’s period is greater than the level of inflation expected for that period at the time the swap was entered into, and conversely the Fund will lose money on a CPI swap if actual inflation turns out to be less than expected.
Income accruals begin at a specified date in the future (the “effective date”). The amount of the payment obligation is based on the notional amount of the CPI swap contract and the termination date of the swap (which is akin to a bond’s maturity). CPI swap contracts are valued daily. The net amount recorded on these transactions, for each counterparty, is recognized on the Statement of Assets and Liabilities as a component of “Unrealized appreciation or depreciation on consumer price index swaps (,net)” with the change during the fiscal period recognized on the Statement of Operations as a component of “Change in net unrealized appreciation (depreciation) of swaps.”
The Fund may terminate a swap contract prior to the effective date, at which point a realized gain or loss is recognized. When a CPI swap is terminated, it ordinarily does not involve the delivery of securities or other underlying assets or principal, but rather is settled in cash on a net basis. Net realized gains and losses during the fiscal period are recognized on the Statement of Operations as a component of “Net realized gain (loss) from swaps.” The Fund intends, but is not obligated, to terminate its CPI swaps before the effective date. Accordingly, the risk of loss with respect to the swap counterparty on such transactions is limited to the credit risk associated with a counterparty failing to honor its commitment to pay any realized gain to the Fund upon termination.
During the six months ended October 31, 2013, Inflation Protected continued to invest in CPI swap contracts to hedge against unexpected increases in inflation.
Nuveen Investments | 177 |
Notes to Financial Statements (Unaudited) (continued)
The average notional amount of CPI swap contracts outstanding during the six months ended October 31, 2013, was as follows:
Inflation Protected | ||||
Average notional amount of CPI swap contracts outstanding* | $ | 98,933,333 |
* | The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year. |
The following table presents the fair value of all CPI swap contracts held by Inflation Protected as of October 31, 2013, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure.
Location on the Statement of Assets and Liabilities | ||||||||||||||
Underlying Risk Exposure | Derivative Instrument | Asset Derivatives | (Liability) Derivatives | |||||||||||
Location | Value | Location | Value | |||||||||||
Inflation | Swaps | — | $ | — | Unrealized depreciation on consumer price index swaps | $ | (2,545,742 | ) |
The following tables present the CPI swap contracts, which are subject to netting agreements, as well as collateral delivered to those swap contracts.
Fund | Counterparty | Gross Unrealized Appreciation on CPI Swaps* | Gross Unrealized (Depreciation) on CPI Swaps* | Amounts Netted on Statement of Assets and Liabilities | Net Unrealized Appreciation (Depreciation) on CPI Swaps | Collateral Pledged to (from) Counterparty | Net Exposure | |||||||||||||||||||
Inflation Protected | ||||||||||||||||||||||||||
Barclays PLC | $ | — | $ | (1,631,596 | ) | $ | — | $ | (1,631,596 | ) | $ | 1,401,382 | $ | (230,214 | ) | |||||||||||
JPMorgan | — | (335,710 | ) | — | (335,710 | ) | 258,747 | (76,963 | ) | |||||||||||||||||
Morgan Stanley | — | (578,436 | ) | — | (578,436 | ) | 504,286 | (74,150 | ) | |||||||||||||||||
Total | $ | — | $ | (2,545,742 | ) | $ | — | $ | (2,545,742 | ) | $ | 2,164,415 | $ | (381,327 | ) |
* | Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund’s Portfolio of Investments. |
The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized on CPI swap contracts during the six months ended October 31, 2013, and the primary underlying risk exposure.
Fund | Underlying Risk Exposure | Derivative Instrument | Net Realized Gain (Loss) | Change in Net Unrealized Appreciation (Depreciation) | ||||||||||||
Inflation Protected | Inflation | CPI Swaps | $ | (386,700 | ) | $ | (1,467,884 | ) |
Market and Counterparty Credit Risk
In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund’s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities.
Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.
178 | Nuveen Investments |
4. Fund Shares
Transactions in Fund shares were as follows:
All-American | ||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Shares sold: | ||||||||||||||||
Class A | 5,566,212 | $ | 61,360,228 | 36,137,441 | $ | 422,123,272 | ||||||||||
Class A – automatic conversion of Class B Shares | 4,368 | 47,957 | 88,230 | 1,027,090 | ||||||||||||
Class B – exchanges | 436 | 4,785 | 19,747 | 230,819 | ||||||||||||
Class C | 2,152,726 | 24,016,045 | 14,765,759 | 172,192,912 | ||||||||||||
Class I | 12,412,920 | 136,655,292 | 29,093,499 | 340,673,994 | ||||||||||||
Shares issued to shareholders due to reinvestment of distributions: | ||||||||||||||||
Class A | 1,603,894 | 17,510,557 | 3,031,020 | 35,411,944 | ||||||||||||
Class B | 3,696 | 40,504 | 12,257 | 143,124 | ||||||||||||
Class C | 455,435 | 4,976,063 | 856,156 | 10,008,408 | ||||||||||||
Class I | 1,150,046 | 12,602,239 | 2,599,068 | 30,450,682 | ||||||||||||
23,349,733 | 257,213,670 | 86,603,177 | 1,012,262,245 | |||||||||||||
Shares redeemed: | ||||||||||||||||
Class A | (23,664,906 | ) | (258,463,396 | ) | (19,964,928 | ) | (233,633,614 | ) | ||||||||
Class B | (127,124 | ) | (1,402,675 | ) | (304,556 | ) | (3,554,758 | ) | ||||||||
Class B – automatic conversion to Class A Shares | (4,360 | ) | (47,957 | ) | (88,046 | ) | (1,027,090 | ) | ||||||||
Class C | (9,891,701 | ) | (107,861,823 | ) | (5,344,245 | ) | (62,513,581 | ) | ||||||||
Class I | (34,759,649 | ) | (378,723,327 | ) | (21,208,856 | ) | (248,678,330 | ) | ||||||||
(68,447,740 | ) | (746,499,178 | ) | (46,910,631 | ) | (549,407,373 | ) | |||||||||
Net increase (decrease) | (45,098,007 | ) | $ | (489,285,508 | ) | 39,692,546 | $ | 462,854,872 |
Inflation Protected | ||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Shares sold: | ||||||||||||||||
Class A | 1,143,453 | $ | 12,378,807 | 5,232,725 | $ | 59,200,370 | ||||||||||
Class C | 151,625 | 1,657,846 | 1,154,528 | 13,014,423 | ||||||||||||
Class I | 884,137 | 9,397,626 | 3,120,247 | 35,239,562 | ||||||||||||
Shares issued to shareholders due to reinvestment of distributions: | ||||||||||||||||
Class A | 53,896 | 568,799 | 47,599 | 538,687 | ||||||||||||
Class C | 9,601 | 101,166 | 11,011 | 124,435 | ||||||||||||
Class I | 34,696 | 366,500 | 31,839 | 360,112 | ||||||||||||
2,277,408 | 24,470,744 | 9,597,949 | 108,477,589 | |||||||||||||
Shares redeemed: | ||||||||||||||||
Class A | (2,642,545 | ) | (27,812,832 | ) | (473,041 | ) | (5,305,991 | ) | ||||||||
Class C | (355,079 | ) | (3,738,905 | ) | (215,629 | ) | (2,387,098 | ) | ||||||||
Class I | (1,327,486 | ) | (13,999,776 | ) | (665,894 | ) | (7,567,356 | ) | ||||||||
(4,325,110 | ) | (45,551,513 | ) | (1,354,564 | ) | (15,260,445 | ) | |||||||||
Net increase (decrease) | (2,047,702 | ) | $ | (21,080,769 | ) | 8,243,385 | $ | 93,217,144 |
Nuveen Investments | 179 |
Notes to Financial Statements (Unaudited) (continued)
Intermediate Duration | ||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Shares sold: | ||||||||||||||||
Class A | 27,654,733 | $ | 244,644,992 | 14,955,830 | $ | 139,930,217 | ||||||||||
Class A – automatic conversion of Class B Shares | — | — | 18,235 | 169,460 | ||||||||||||
Class B – exchanges | 32,251 | 296,575 | 7,073 | 66,166 | ||||||||||||
Class C | 1,207,079 | 10,914,033 | 4,620,559 | 43,326,884 | ||||||||||||
Class I | 33,990,021 | 306,208,282 | 91,216,978 | 855,020,858 | ||||||||||||
Shares issued to shareholders due to reinvestment of distributions: | ||||||||||||||||
Class A | 784,302 | 7,034,013 | 1,393,342 | 13,028,844 | ||||||||||||
Class B | 1,551 | 13,943 | 4,210 | 39,464 | ||||||||||||
Class C | 131,872 | 1,185,952 | 266,451 | 2,498,523 | ||||||||||||
Class I | 3,438,634 | 30,922,133 | 7,496,009 | 70,245,514 | ||||||||||||
67,240,443 | 601,219,923 | 119,978,687 | 1,124,325,930 | |||||||||||||
Shares redeemed: | ||||||||||||||||
Class A | (12,950,751 | ) | (116,048,672 | ) | (10,455,595 | ) | (97,725,473 | ) | ||||||||
Class B | (75,618 | ) | (683,109 | ) | (121,372 | ) | (1,137,338 | ) | ||||||||
Class B – automatic conversion to Class A Shares | — | — | (18,178 | ) | (169,460 | ) | ||||||||||
Class C | (3,479,014 | ) | (31,277,022 | ) | (2,592,728 | ) | (24,303,565 | ) | ||||||||
Class I | (71,364,123 | ) | (646,808,860 | ) | (52,392,176 | ) | (491,029,155 | ) | ||||||||
(87,869,506 | ) | (794,817,663 | ) | (65,580,049 | ) | (614,364,991 | ) | |||||||||
Net increase (decrease) | (20,629,063 | ) | $ | (193,597,740 | ) | 54,398,638 | $ | 509,960,939 |
Limited Term | ||||||||||||||||
Six Months Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Shares sold: | ||||||||||||||||
Class A | 21,808,851 | $ | 241,123,221 | 55,858,576 | $ | 627,985,659 | ||||||||||
Class C | 6,120,567 | 67,358,921 | 16,583,824 | 185,750,383 | ||||||||||||
Class I | 52,989,248 | 583,306,464 | 74,687,116 | 835,442,766 | ||||||||||||
Shares issued to shareholders due to reinvestment of distributions: | ||||||||||||||||
Class A | 992,673 | 10,941,000 | 2,027,026 | 22,803,105 | ||||||||||||
Class C | 331,725 | 3,642,728 | 735,318 | 8,238,714 | ||||||||||||
Class I | 696,899 | 7,642,191 | 1,417,080 | 15,859,641 | ||||||||||||
82,939,963 | 914,014,525 | 151,308,940 | 1,696,080,268 | |||||||||||||
Shares redeemed: | ||||||||||||||||
Class A | (29,351,975 | ) | (323,089,026 | ) | (29,738,275 | ) | (334,355,453 | ) | ||||||||
Class C | (9,700,255 | ) | (106,465,041 | ) | (10,594,753 | ) | (118,670,653 | ) | ||||||||
Class I | (38,700,931 | ) | (424,131,920 | ) | (45,284,522 | ) | (506,548,399 | ) | ||||||||
(77,753,161 | ) | (853,685,987 | ) | (85,617,550 | ) | (959,574,505 | ) | |||||||||
Net increase (decrease) | 5,186,802 | $ | 60,328,538 | 65,691,390 | $ | 736,505,763 |
180 | Nuveen Investments |
Short Term | ||||||||||||||||
Year Ended 10/31/13 | Year Ended 4/30/13 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Shares sold: | ||||||||||||||||
Class A | 15,744,220 | $ | 159,583,114 | 10,803,399 | $ | 110,119,096 | ||||||||||
Class C | 2,871,439 | 29,043,763 | 1,170,185 | 11,914,696 | ||||||||||||
Class I | 15,435,070 | 156,421,120 | 30,582,797 | 311,778,721 | ||||||||||||
Shares issued to shareholders due to reinvestment of distributions: | ||||||||||||||||
Class A | 86,522 | 876,062 | 96,677 | 985,725 | ||||||||||||
Class C | 10,774 | 108,953 | 7,034 | 71,621 | ||||||||||||
Class I | 55,481 | 561,833 | 89,508 | 912,653 | ||||||||||||
34,203,506 | 346,594,845 | 42,749,600 | 435,782,512 | |||||||||||||
Shares redeemed: | ||||||||||||||||
Class A | (9,147,001 | ) | (92,561,731 | ) | (4,325,269 | ) | (44,088,273 | ) | ||||||||
Class C | (884,466 | ) | (8,943,643 | ) | (235,416 | ) | (2,396,736 | ) | ||||||||
Class I | (12,888,555 | ) | (130,470,248 | ) | (22,910,953 | ) | (233,555,155 | ) | ||||||||
(22,920,022 | ) | (231,975,622 | ) | (27,471,638 | ) | (280,040,164 | ) | |||||||||
Net increase (decrease) | 11,283,484 | $ | 114,619,223 | 15,277,962 | $ | 155,742,348 |
5. Investment Transactions
Purchases and sales (including maturities but excluding short-term investments and derivative transactions, where applicable) during the six months ended October 31, 2013, were as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Purchases | $ | 235,076,300 | $ | 11,291,333 | $ | 289,173,558 | $ | 495,960,615 | $ | 231,320,687 | ||||||||||
Sales and maturities | 712,979,858 | 26,642,104 | 459,389,826 | 372,414,003 | 113,543,205 |
6. Income Tax Information
Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.
For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset values of the Funds.
As of October 31, 2013, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives, where applicable), as determined on a federal income tax basis, were as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Cost of investments | $ | 2,169,314,751 | $ | 88,306,110 | $ | 3,654,632,525 | $ | 3,587,409,685 | $ | 607,143,158 | ||||||||||
Gross unrealized: | ||||||||||||||||||||
Appreciation | $ | 118,999,900 | $ | 488,546 | $ | 166,632,391 | $ | 104,040,915 | $ | 9,318,726 | ||||||||||
Depreciation | (58,354,604 | ) | (3,360,347 | ) | (59,786,265 | ) | (23,202,194 | ) | (1,679,361 | ) | ||||||||||
Net unrealized appreciation (depreciation) of investments | $ | 60,645,296 | $ | (2,871,801 | ) | $ | 106,846,126 | $ | 80,838,721 | $ | 7,639,365 |
Nuveen Investments | 181 |
Notes to Financial Statements (Unaudited) (continued)
Permanent differences, primarily due to federal taxes paid, taxable market discount, expiration of capital loss carryforwards, paydowns, nondeductible reorganizational expenses, and distribution reclasses, resulted in reclassifications among the Funds’ components of net assets as of April 30, 2013, the Funds’ last tax year end, as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Capital paid-in | $ | (55,192 | ) | $ | (361 | ) | $ | (136,960 | ) | $ | (149,326 | ) | $ | (1,218 | ) | |||||
Undistributed (Over-distribution of) net investment income | 23,141 | (2,591 | ) | (2,839 | ) | (238,435 | ) | — | ||||||||||||
Accumulated net realized gain (loss) | 32,051 | 2,952 | 139,799 | 387,761 | 1,218 |
The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of April 30, 2013, the Funds’ last tax year end, were as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Undistributed net tax-exempt income1 | $ | 8,029,994 | $ | 72,648 | $ | 13,865,480 | $ | 2,806,495 | $ | 646,690 | ||||||||||
Undistributed net ordinary income2 | 20,361 | — | 453,495 | 501,826 | — | |||||||||||||||
Undistributed net long-term capital gains | — | — | — | — | — |
1 | Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period April 1, 2013 through April 30, 2013, and paid on May 1, 2013. |
2 | Net ordinary income consists of taxable market discount income and net short-term capital gains, if any. |
The tax character of distributions paid during the Funds’ last tax year ended April 30, 2013, was designated for purposes of the dividends paid deduction as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Distributions from net tax-exempt income | $ | 109,809,752 | $ | 1,123,233 | $ | 134,244,774 | $ | 71,106,768 | $ | 7,787,833 | ||||||||||
Distributions from net ordinary income2 | 497,880 | 37,661 | 845,011 | — | — | |||||||||||||||
Distributions from net long-term capital gains | — | 7,216 | — | — | — |
2 | Net ordinary income consists of taxable market discount income and net short-term capital gains, if any. |
As of April 30, 2013, the Funds’ last tax year end, the Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as shown in the following table. The losses not subject to expiration retain the character reflected and will be utilized first by a Fund, while the losses subject to expiration are considered short-term:
All- American3 | Inflation Protected | Intermediate Duration3 | Limited Term | Short Term | ||||||||||||||||
Expiration: | ||||||||||||||||||||
April 30, 2014 | $ | — | $ | — | $ | — | $ | 1,064,312 | $ | — | ||||||||||
April 30, 2015 | 21,571 | — | — | 7,283,015 | 11,893 | |||||||||||||||
April 30, 2016 | 2,298,768 | — | — | 546,020 | — | |||||||||||||||
April 30, 2017 | 22,698,037 | — | — | 1,071,726 | 312,109 | |||||||||||||||
April 30, 2018 | 14,897,930 | — | 9,207,679 | 543,730 | — | |||||||||||||||
April 30, 2019 | 881,168 | — | 1,043,786 | 1,598,268 | — | |||||||||||||||
Not subject to expiration: | ||||||||||||||||||||
Short-term losses | — | 32,143 | — | 906,756 | — | |||||||||||||||
Long-term losses | 590,494 | 38,611 | 2,415,208 | 7,562,532 | — | |||||||||||||||
Total | $ | 41,387,968 | $ | 70,754 | $ | 12,666,673 | $ | 20,576,359 | $ | 324,002 |
3 | A portion of All-American’s and Intermediate Duration’s capital loss carryforward is subject to an annual limitation under Internal Revenue Code and related regulations. |
During the Funds’ last tax year ended April 30, 2013, the following Funds utilized their capital loss carryforwards as follows:
All- American | Short Term | |||||||
Utilized capital loss carryforwards | $ | 5,896,378 | $ | 59,992 |
As of April 30, 2013, the Funds’ last tax year end, $169,527 of Limited Term’s capital loss carryforward expired.
182 | Nuveen Investments |
The Funds have elected to defer late-year losses in accordance with federal income tax rules. These losses are treated as having arisen on the first day of the current fiscal year. The Funds have elected to defer losses as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Post-October capital losses4 | $ | 1,283,158 | $ | 37,587 | $ | 312,547 | $ | 363,136 | $ | 56,932 | ||||||||||
Late-year ordinary losses5 | — | — | — | — | — |
4 | Capital losses incurred from November 1, 2012 through April 30, 2013, the Funds’ last tax year end. |
5 | Ordinary losses incurred from January 1, 2013 through April 30, 2013 and specified losses incurred from November 1, 2012 through April 30, 2013. |
7. Management Fees and Other Transactions with Affiliates
Each Fund’s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.
Each Fund’s management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund’s shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.
Average Daily Net Assets | All- American Fund-Level Fee Rate | Inflation Protected Fund-Level Fee Rate | Intermediate Duration Fund-Level Fee Rate | Limited Term Fund-Level Fee Rate | Short Term Fund-Level Fee Rate | |||||||||||||||
For the first $125 million | .3000 | % | .3000 | % | .3000 | % | .2500 | % | .2500 | % | ||||||||||
For the next $125 million | .2875 | .2875 | .2875 | .2375 | .2375 | |||||||||||||||
For the next $250 million | .2750 | .2750 | .2750 | .2250 | .2250 | |||||||||||||||
For the next $500 million | .2625 | .2625 | .2625 | .2125 | .2125 | |||||||||||||||
For the next $1 billion | .2500 | .2500 | .2500 | .2000 | .2000 | |||||||||||||||
For net assets over $2 billion | — | .2250 | — | — | .1750 | |||||||||||||||
For the next $3 billion | .2250 | — | .2250 | .1750 | — | |||||||||||||||
For net assets over $5 billion | .2125 | — | .2125 | .1625 | — |
The annual complex-level fee for the Funds, payable monthly, is determined by taking the complex-level fee rate, which is based on the aggregate amount of “eligible assets” of all Nuveen Funds as set forth in the schedule below, and for Short Term, making, as appropriate, an upward adjustment to that rate based upon the percentage of the Fund’s assets that are not “eligible assets.” The complex level fee schedule for the Funds is as follows:
Complex-Level Asset Breakpoint Level* | Effective Rate at Breakpoint Level | |||
$55 billion | .2000 | % | ||
$56 billion | .1996 | |||
$57 billion | .1989 | |||
$60 billion | .1961 | |||
$63 billion | .1931 | |||
$66 billion | .1900 | |||
$71 billion | .1851 | |||
$76 billion | .1806 | |||
$80 billion | .1773 | |||
$91 billion | .1691 | |||
$125 billion | .1599 | |||
$200 billion | .1505 | |||
$250 billion | .1469 | |||
$300 billion | .1445 |
* | The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen Funds. Eligible assets do not include assets attributable to investments in other Nuveen Funds or assets in excess of $2 billion added to the Nuveen Fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. Eligible assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the closed-end funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in certain circumstances. As of October 31, 2013, the complex-level fee rate for each of these Funds was as follows: |
Fund | Complex-Level Fee Rate | |||
All-American | .1737 | % | ||
Inflation Protected | .1683 | |||
Intermediate Duration | .1737 | |||
Limited Term | .1683 | |||
Short Term | .1829 |
Nuveen Investments | 183 |
Notes to Financial Statements (Unaudited) (continued)
The Adviser has agreed to waive fees and/or reimburse expenses (“Expense Cap”) of the following Funds so that total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts and for the time periods stated in the following table.
Fund | Temporary Expense Cap | Temporary Expense Cap Expiration Date | Permanent Expense Cap | |||||||||
Inflation Protected | .60 | % | August 31, 2014 | 1.05 | % | |||||||
Intermediate Duration | N/A | N/A | .75 |
N/A | – Not applicable. |
The Adviser may also voluntarily reimburse additional expenses from time to time in any of the Funds. Voluntary reimbursements may be terminated at any time at the Adviser’s discretion.
Neither Trust pays compensation directly to those of its trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to each Trust from the Adviser or its affiliates. The Board of Directors/Trustees has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.
During the six months ended October 31, 2013, Nuveen Securities, LLC, (the “Distributor”), a wholly-owned subsidiary of Nuveen, collected sales charges on purchases of Class A Shares, the majority of which were paid out as concessions to financial intermediaries as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Sales charges collected | $ | 545,886 | $ | 26,738 | $ | 180,277 | $ | 564,271 | $ | 163,627 | ||||||||||
Paid to financial intermediaries | 474,689 | 22,357 | 157,866 | 534,367 | 159,464 |
The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.
During the six months ended October 31, 2013, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
Commission advances | $ | 286,923 | $ | 19,435 | $ | 128,156 | $ | 799,868 | $ | 189,947 |
To compensate for commissions advanced to financial intermediaries, all 12b-1 service fees collected on Class B Shares during the first year following a purchase, all 12b-1 distribution fees collected on Class B Shares, and all 12b-1 service and distribution fees collected on Class C Shares during the first year following a purchase are retained by the Distributor. During the six months ended October 31, 2013, the Distributor retained such 12b-1 fees as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
12b-1 fees retained | $ | 451,384 | $ | 36,971 | $ | 123,728 | $ | 409,845 | $ | 26,386 |
The remaining 12b-1 fees charged to the Funds were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.
The Distributor also collected and retained CDSC on share redemptions during the six months ended October 31, 2013, as follows:
All- American | Inflation Protected | Intermediate Duration | Limited Term | Short Term | ||||||||||||||||
CDSC retained | $ | 156,658 | $ | 21,428 | $ | 43,667 | $ | 352,822 | $ | 108,502 |
184 | Nuveen Investments |
8. Subsequent Events
Class C and Class C2 Shares
Subsequent to the close of this reporting period, the Funds’ Board of Directors/Trustees approved the following changes, which will become effective February 10, 2014:
Class C Shares of the Funds will be re-designated Class C2 Shares. Class C2 Shares will not be available for new accounts or for additional investment into existing accounts except in connection with dividend reinvestments. Class C2 Shares will not be eligible for the reinstatement privilege. Shareholders of Class C2 Shares will be eligible to exchange their shares into Class C2 Shares of other Nuveen municipal bond funds. Shareholders of Class C2 Shares will also remain eligible to exchange their shares into Class C Shares of any other Nuveen mutual Fund, but if they exchange back into a Nuveen municipal bond fund, they will issued newly established Class C Shares with the terms set forth below.
Each Fund intends to offer a new share class, designated as Class C Shares, which will be subject to annual distribution and service fees of 1.00% of the Fund’s average daily net assets.
Nuveen Investments | 185 |
Annual Investment Management Agreement
Approval Process (Unaudited)
The Board of Trustees or Directors (as the case may be) (each, a “Board” and each Trustee or Director, a “Board Member”) of the Funds, including the Board Members who are not parties to the Funds’ advisory or sub-advisory agreements or “interested persons” of any such parties (the “Independent Board Members”), is responsible for approving the advisory agreements (each, an “Investment Management Agreement”) between each Fund and Nuveen Fund Advisors, LLC (the “Adviser”) and the sub-advisory agreements (each, a “Sub-Advisory Agreement”) between the Adviser and Nuveen Asset Management, LLC (the “Sub-Adviser”) (the Investment Management Agreements and the Sub-Advisory Agreements are referred to collectively as the “Advisory Agreements”) and their periodic continuation. Pursuant to the Investment Company Act of 1940, as amended (the “1940 Act”), the Board is required to consider the continuation of the Advisory Agreements on an annual basis. Accordingly, at an in-person meeting held on May 20-22, 2013 (the “May Meeting”), the Board, including a majority of the Independent Board Members, considered and approved the continuation of the Advisory Agreements for the Funds for an additional one-year period.
In preparation for its considerations at the May Meeting, the Board requested and received extensive materials prepared in connection with the review of the Advisory Agreements. The materials provided a broad range of information regarding the Funds, the Adviser and the Sub-Adviser (the Adviser and the Sub-Adviser are collectively, the “Fund Advisers” and each, a “Fund Adviser”). As described in more detail below, the information provided included, among other things, a review of Fund performance, including Fund investment performance assessments against peer groups and appropriate benchmarks; a comparison of Fund fees and expenses relative to peers; a description and assessment of shareholder service levels for the Funds; a summary of the performance of certain service providers; a review of product initiatives and shareholder communications; and an analysis of the Adviser’s profitability with comparisons to comparable peers in the managed fund business. As part of its annual review, the Board also held a separate meeting on April 17-18, 2013, to review the Funds’ investment performance and consider an analysis provided by the Adviser of the Sub-Adviser which generally evaluated the Sub-Adviser’s investment team, investment mandate, organizational structure and history, investment philosophy and process, performance of the applicable Fund, and significant changes to the foregoing. As a result of its review of the materials and discussions, the Board presented the Adviser with questions and the Adviser responded.
The materials and information prepared in connection with the annual review of the Advisory Agreements supplement the information and analysis provided to the Board during the year. In this regard, throughout the year, the Board, acting directly or through its committees, regularly reviews the performance and various services provided by the Adviser and the Sub-Adviser. The Board meets at least quarterly as well as at other times as the need arises. At its quarterly meetings, the Board reviews reports by the Adviser regarding, among other things, fund performance, fund expenses, the performance of the investment teams, and compliance, regulatory and risk management matters. In addition to regular reports, the Adviser provides special reports to the Board or a committee thereof from time to time to enhance the Board’s understanding of various topics that impact some or all the Nuveen funds (such as accounting and financial statement presentations of the various forms of leverage that may be used by a closed-end fund or an update on the valuation policies and procedures), to update the Board on regulatory developments impacting the investment company industry or to update the Board on the business plans or other matters impacting the Adviser. The Board also meets with key investment personnel managing the fund portfolios during the year. In October 2011, the Board also created two standing committees (the Open-End Fund Committee and the Closed-End Fund Committee) to assist the full Board in monitoring and gaining a deeper insight into the distinctive business practices of open-end and closed-end funds. These Committees meet prior to each quarterly Board meeting, and the Adviser provides presentations to these Committees permitting them to delve further into specific matters or initiatives impacting the respective product line.
In addition, the Board continues its program of seeking to have the Board Members or a subset thereof visit each sub-adviser to the Nuveen funds at least once over a multiple year rotation, meeting with key investment and business personnel. In this regard, the Independent Board Members visited certain of the Sub-Adviser’s investment teams in Minneapolis in September 2012, and the Sub-Adviser’s municipal team in November 2012. In addition, the ad hoc Securities Lending Committee of the Board met with certain service providers and the Audit Committee of the Board made a site visit to three pricing service providers.
The Board considers the information provided and knowledge gained at these meetings and visits during the year when performing its annual review of the Advisory Agreements. The Independent Board Members also are assisted throughout the process by independent legal counsel. Counsel provided materials describing applicable law and the duties of directors or trustees in reviewing advisory contracts. During the course of the year and during their deliberations regarding the review of advisory contracts, the Independent Board Members met with independent legal counsel in executive sessions without management present. In addition, it is important to recognize that the management arrangements for the Nuveen funds are the result of many years of review and discussion between the Independent Board Members and fund management and that the Board Members’ conclusions may be based, in part, on their consideration of fee arrangements and other factors developed in previous years.
186 | Nuveen Investments |
The Board considered all factors it believed relevant with respect to each Fund, including among other factors: (a) the nature, extent and quality of the services provided by the Fund Advisers, (b) the investment performance of the Fund and Fund Advisers, (c) the advisory fees and costs of the services to be provided to the Fund and the profitability of the Fund Advisers, (d) the extent of any economies of scale, (e) any benefits derived by the Fund Advisers from the relationship with the Fund and (f) other factors. Each Board Member may have accorded different weight to the various factors in reaching his or her conclusions with respect to a Fund’s Advisory Agreements. The Independent Board Members did not identify any single factor as all important or controlling. The Independent Board Members’ considerations were instead based on a comprehensive consideration of all the information presented. The principal factors considered by the Board and its conclusions are described below.
A. Nature, Extent and Quality of Services
In considering renewal of the Advisory Agreements, the Independent Board Members considered the nature, extent and quality of the Fund Adviser’s services, including advisory services and the resulting Fund performance and administrative services. The Independent Board Members further considered the overall reputation and capabilities of the Adviser and its affiliates, the commitment of the Adviser to provide high quality service to the Funds, their overall confidence in the capability and integrity of the Adviser and its staff and the Adviser’s responsiveness to questions and concerns raised by them. The Independent Board Members reviewed materials outlining, among other things, the Fund Adviser’s organization and business; the types of services that the Fund Adviser or its affiliates provide to the Funds; the performance record of the applicable Fund (as described in further detail below); and any applicable initiatives Nuveen had taken for the open-end fund product line.
In considering advisory services, the Board recognized that the Adviser provides various oversight, administrative, compliance and other services for the Funds and the Sub-Adviser generally provides the portfolio investment management services to the Funds. In reviewing the portfolio management services provided to each Fund, the Board reviewed the materials provided by the Nuveen Investment Services Oversight Team analyzing, among other things, the Sub-Adviser’s investment team and changes thereto, organization and history, assets under management, the investment team’s philosophy and strategies in managing the Fund, developments affecting the Sub-Adviser or Fund and Fund performance. The Independent Board Members also reviewed portfolio manager compensation arrangements to evaluate each Fund Adviser’s ability to attract and retain high quality investment personnel, preserve stability, and reward performance but not provide an inappropriate incentive to take undue risks. In addition, the Board considered the Adviser’s execution of its oversight responsibilities over the Sub-Adviser. Given the importance of compliance, the Independent Board Members also considered Nuveen’s compliance program, including the report of the chief compliance officer regarding the Funds’ compliance policies and procedures; the resources dedicated to compliance; and the record of compliance with the policies and procedures. Given the Adviser’s emphasis on business risk, the Board also appointed an Independent Board Member as a point person to review and keep the Board apprised of developments in this area during the year.
In addition to advisory services, the Board considered the quality and extent of administrative and other non-investment advisory services the Adviser and its affiliates provide to the Funds, including product management, investment services (such as oversight of investment policies and procedures, risk management, and pricing), fund administration, oversight of service providers, shareholder services and communications, administration of Board relations, regulatory and portfolio compliance and legal support. The Board further recognized Nuveen’s additional investments in personnel, including in compliance and risk management.
In reviewing the services provided, the Board considered the new services and service enhancements that the Adviser has implemented since the various advisory agreements were last reviewed. In reviewing the activities of 2012, the Board recognized the Adviser’s focus on product rationalization for both closed-end and open-end funds during the year, consolidating certain Nuveen funds through mergers that were designed to improve efficiencies and economies of scale for shareholders, repositioning various Nuveen funds through updates in their investment policies and guidelines with the expectation of bringing greater value to shareholders, and liquidating certain Nuveen funds. The Board recognized the Adviser’s significant investment in technology initiatives to, among other things, create a central repository for fund and other Nuveen product data, develop a group within the Adviser designed to handle and analyze fund performance data, and implement a data system to support the risk oversight group. The Board also recognized the enhancements in the valuation group within the Adviser, including upgrading the team and process and automating certain basic systems, and in the compliance group with the addition of personnel, particularly within the testing group. With the advent of the Open-End Fund Committee and Closed-End Fund Committee, the Board also noted the enhanced support and comprehensive in-depth presentations provided by the Adviser to these committees.
In addition to the foregoing actions, the Board also considered other initiatives related to the open-end Nuveen funds including, among other things, the development of a comprehensive strategic plan and the addition of members to the product strategy team; the commencement of various new funds; the removal of redemption fees for certain funds; the establishment of a working group to enhance the Adviser’s oversight of the disclosures pertaining to Nuveen’s products and services; the acceleration of monthly holdings disclosure for certain funds; and the development of a new share class for certain funds.
Nuveen Investments | 187 |
Annual Investment Management Agreement Approval Process (Unaudited) (continued)
Based on their review, the Independent Board Members found that, overall, the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement were satisfactory.
B. The Investment Performance of the Funds and Fund Advisers
The Board, including the Independent Board Members, considered the performance history of each Fund over various time periods. The Board reviewed reports, including an analysis of the Funds’ performance and the applicable investment team. In general, in considering a fund’s performance, the Board recognized that a fund’s performance can be reviewed through various measures including the fund’s absolute return, the fund’s return compared to the performance of other peer funds, and the fund’s performance compared to its respective benchmark. Accordingly, the Board reviewed, among other things, each Fund’s historic investment performance as well as information comparing the Fund’s performance information with that of other funds (the “Performance Peer Group”) and with recognized and/or customized benchmarks (i.e., generally benchmarks derived from multiple recognized benchmarks) for the quarter, one-, three- and five-year periods ending December 31, 2012 as well as performance information reflecting the first quarter of 2013 (or for such shorter periods available for the Nuveen Inflation Protected Municipal Bond Fund (the “Inflation Protected Fund”), which did not exist for part of the foregoing time frame). This information supplemented the fund performance information provided to the Board at each of its quarterly meetings.
In evaluating performance, the Board recognized several factors that may impact the performance data as well as the consideration given to particular performance data. The Board recognized that the performance data reflects a snapshot of time, in this case as of the end of the most recent calendar year or quarter. The Board noted that selecting a different performance period could derive significantly different results. Further, the Board recognized that it is possible that long-term performance can be adversely affected by even one period of significant underperformance so that a single investment decision or theme has the ability to disproportionately affect long-term performance. The Independent Board Members also noted that the investment experience of a particular shareholder in the Nuveen funds will vary depending on when such shareholder invests in the applicable fund, the class held (if multiple classes are offered in a fund) and the performance of the fund (or respective class) during that shareholder’s investment period.
With respect to the comparative performance information, the Board recognized that the usefulness of comparative performance data as a frame of reference to measure a fund’s performance may be limited because the Performance Peer Group, among other things, does not adequately reflect the objectives and strategies of the fund, has a different investable universe, or the composition of the peer set may be limited in size or number as well as other factors. In this regard, the Board noted that the Adviser classified, in relevant part, the Performance Peer Groups of certain funds as having significant differences from the funds but to still be somewhat relevant, while the Performance Peer Groups of other funds were classified as having such significant differences as to be irrelevant. Accordingly, while the Board is cognizant of the relative performance of a fund’s peer set and/or benchmark(s), the Board evaluated fund performance in light of the respective fund’s investment objectives, investment parameters and guidelines and considered that the variations between the objectives and investment parameters or guidelines of the funds with their peers and/or benchmarks result in differences in performance results. The Board also noted that open-end funds offer multiple classes and the performance of the various classes of a fund should be substantially similar on a relative basis because all of the classes are invested in the same portfolio of securities and that differences in performance among classes could be principally attributed to the variations in distribution and servicing expenses of each class. In addition, with respect to any Nuveen funds for which the Board has identified performance concerns, the Board monitors such funds closely until performance improves, discusses with the Adviser the reasons for such results, considers those steps necessary or appropriate to address such issues, and reviews the results of any efforts undertaken.
In considering the performance data for the Funds, the Independent Board Members noted that the Nuveen All-American Municipal Bond Fund (the “All-American Fund”), the Nuveen Intermediate Duration Municipal Bond Fund ( the “Intermediate Duration Fund”), the Nuveen Limited Term Municipal Bond Fund (the “Limited Term Fund”) and the Nuveen Short Term Municipal Bond Fund (the “Short Term Fund”) had demonstrated generally favorable performance in comparison to peers, performing in the first or second quartile over various periods. In addition, the Independent Board Members noted that the Inflation Protected Fund was relatively new with a shorter performance history available, thereby limiting the ability to make a meaningful assessment of performance; however, they observed that such Fund performed in the first quartile and outperformed its benchmark for the one-year period.
Based on their review, the Independent Board Members determined that each Fund’s investment performance had been satisfactory.
C. Fees, Expenses and Profitability
1. Fees and Expenses
The Board evaluated the management fees and expenses of each Fund reviewing, among other things, such Fund’s gross management fees, net management fees and net expense ratio in absolute terms as well as compared to the fees and expenses of a comparable universe of funds provided by an independent fund data provider (the “Peer Universe”) and to a more focused subset of funds in the Peer Universe (the “Peer Group”) and any expense limitations.
188 | Nuveen Investments |
The Independent Board Members further reviewed the methodology regarding the construction of the applicable Peer Universe and Peer Group. In reviewing the comparisons of fee and expense information, the Independent Board Members took into account that in certain instances various factors such as: the limited size and particular composition of the Peer Universe or Peer Group (including the inclusion of other Nuveen funds in the peer set); expense anomalies; changes in the funds comprising the Peer Universe or Peer Group from year to year; levels of reimbursement or fee waivers; and the timing of information used may impact the comparative data, thereby limiting somewhat the ability to make a meaningful comparison with peers.
In reviewing the fee schedule for a Fund, the Independent Board Members also considered the fund-level and complex-wide breakpoint schedules (described in further detail below) and any fee waivers and reimbursements provided by Nuveen. In reviewing fees and expenses, the Board considered the expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were approximately 6 to 10 basis points higher, in line if they were within approximately 5 basis points higher than the peer average and below if they were below the peer average of the Peer Group. In reviewing the reports, the Board noted that the majority of the Nuveen funds were at, close to or below their Peer Group or Peer Universe (if no separate Peer Group) average based on the net total expense ratio.
The Independent Board Members noted that the Funds had net management fees and net expense ratios (including fee waivers and expense reimbursements) that were below or in line with their respective peer averages. In addition, at the May Meeting, the Adviser proposed permitting the then-existing temporary expense cap (the “Expense Cap”) for the Inflation Protected Fund to expire on August 31, 2013. Subsequently, however, at a meeting held on June 20, 2013, after further consideration, the Board of such Fund approved extending the Expense Cap through August 31, 2014.
Based on their review of the fee and expense information provided, the Independent Board Members determined that each Fund’s management fees to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.
2. Comparisons with the Fees of Other Clients
The Board recognized that all Nuveen funds have a sub-adviser (which, in the case of the Funds, is an affiliated sub-adviser), and therefore, the overall fund management fee can be divided into two components, the fee retained by the Adviser and the fee paid to the sub-adviser. In general terms, the fee to the Adviser reflects the administrative services it provides to support the funds, and while some administrative services may occur at the sub-adviser level, the fee generally reflects the portfolio management services provided by the sub-adviser. The Independent Board Members reviewed information regarding the nature of services provided by the Adviser, including through the Sub-Adviser, and the range of fees and average fee the Sub-Adviser assessed for such services to other clients. Such other clients include municipal separately managed accounts and passively managed exchange traded funds (ETFs) sub-advised by the Adviser. In evaluating the comparisons of fees, the Independent Board Members noted that the fee rates charged to the Funds and other clients vary, among other things, because of the different services involved and the additional regulatory and compliance requirements associated with registered investment companies, such as the Funds. Accordingly, the Independent Board Members considered the differences in the product types, including, but not limited to, the services provided, the structure and operations, product distribution and costs thereof, portfolio investment policies, investor profiles, account sizes and regulatory requirements. The Independent Board Members noted, in particular, that the range of services provided to the Funds (as discussed above) is much more extensive than that provided to separately managed accounts. Many of the additional administrative services provided by the Adviser are not required for institutional clients. Given the inherent differences in the various products, particularly the extensive services provided to the Funds, the Independent Board Members believe such facts justify the different levels of fees.
3. Profitability of Fund Advisers
In conjunction with their review of fees, the Independent Board Members also considered the profitability of Nuveen for its advisory activities and its financial condition. The Independent Board Members reviewed the revenues and expenses of Nuveen’s advisory activities for the last two calendar years, the allocation methodology used in preparing the profitability data and an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2012. The Independent Board Members noted this information supplemented the profitability information requested and received during the year to help keep them apprised of developments affecting profitability (such as changes in fee waivers and expense reimbursement commitments). In this regard, the Independent Board Members noted that they have an Independent Board Member serve as a point person to review and keep them apprised of changes to the profitability analysis and/or methodologies during the year. The Independent
Board Members also considered Nuveen’s revenues for advisory activities, expenses, and profit margin compared to that of various unaffiliated management firms with comparable assets under management (based on asset size and asset composition).
In reviewing profitability, the Independent Board Members recognized the Adviser’s continued investment in its business to enhance its services, including capital improvements to investment technology, updated compliance systems, and additional personnel. In addition, in evaluating profitability, the Independent Board Members also recognized the subjective nature of determining profitability which may be affected by
Nuveen Investments | 189 |
Annual Investment Management Agreement Approval Process (Unaudited) (continued)
numerous factors including the allocation of expenses and that various allocation methodologies may each be reasonable but yield different results. Further, the Independent Board Members recognized the difficulties in making comparisons as the profitability of other advisers generally is not publicly available and the profitability information that is available for certain advisers or management firms may not be representative of the industry and may be affected by, among other things, the adviser’s particular business mix, capital costs, types of funds managed and expense allocations. Notwithstanding the foregoing, the Independent Board Members reviewed Nuveen’s methodology and assumptions for allocating expenses across product lines to determine profitability. Based on their review, the Independent Board Members concluded that the Adviser’s level of profitability for its advisory activities was reasonable in light of the services provided.
With respect to sub-advisers affiliated with Nuveen, including the Sub-Adviser, the Independent Board Members reviewed the sub-adviser’s revenues, expenses and profitability margins (pre- and post-tax) for its advisory activities and the methodology used for allocating expenses among the internal sub-advisers. Based on their review, the Independent Board Members were satisfied that the Sub-Adviser’s level of profitability was reasonable in light of the services provided.
In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser by the Funds as well as indirect benefits (such as soft dollar arrangements), if any, the Fund Adviser and its affiliates receive, or are expected to receive, that are directly attributable to the management of the Funds. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds. Based on their review of the overall fee arrangements of each Fund, the Independent Board Members determined that the advisory fees and expenses of the respective Fund were reasonable.
D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale
With respect to economies of scale, the Independent Board Members have recognized the potential benefits resulting from the costs of a fund being spread over a larger asset base, although economies of scale are difficult to measure and predict with precision, particularly on a fund-by-fund basis. One method to help ensure the shareholders share in these benefits is to include breakpoints in the advisory fee schedule. Generally, management fees for funds in the Nuveen complex are comprised of a fund-level component and a complex-level component, subject to certain exceptions. Accordingly, the Independent Board Members reviewed and considered the applicable fund-level breakpoints in the advisory fee schedules that reduce advisory fees as asset levels increase.
In addition to fund-level advisory fee breakpoints, the Board also considered the Funds’ complex-wide fee arrangement. Pursuant to the complex-wide fee arrangement, the fees of the funds in the Nuveen complex are generally reduced as the assets in the fund complex reach certain levels. The complex-wide fee arrangement seeks to provide the benefits of economies of scale to fund shareholders when total fund complex assets increase, even if assets of a particular fund are unchanged or have decreased. The approach reflects the notion that some of Nuveen’s costs are attributable to services provided to all its funds in the complex and therefore all funds benefit if these costs are spread over a larger asset base. In addition, with the acquisition of the funds previously advised by FAF Advisors, Inc. at the end of 2010, the Board noted that a portion of such funds’ assets at the time of acquisition were deemed eligible to be included in the complex-wide fee calculation in order to deliver fee savings to shareholders in the combined complex and such funds were subject to differing complex-level fee rates.
Based on their review, the Independent Board Members concluded that the breakpoint schedules and complex-wide fee arrangement were acceptable and reflect economies of scale to be shared with shareholders when assets under management increase.
E. Indirect Benefits
In evaluating fees, the Independent Board Members received and considered information regarding potential “fall out” or ancillary benefits the respective Fund Adviser or its affiliates may receive as a result of its relationship with each Fund. In this regard, the Independent Board Members considered, among other things, any sales charges, distribution fees and shareholder services fees received and retained by the Funds’ principal underwriter, an affiliate of the Adviser, which includes fees received pursuant to any 12b-1 plan. The Independent Board Members, therefore, considered the 12b-1 fees retained by Nuveen during the last calendar year.
In addition to the above, the Independent Board Members considered whether the Fund Advisers received any benefits from soft dollar arrangements whereby a portion of the commissions paid by a Fund for brokerage may be used to acquire research that may be useful to the Fund Adviser in managing the assets of the Funds and other clients. The Funds’ portfolio transactions are determined by the Sub-Adviser. Accordingly, the Independent Board Members considered that the Sub-Adviser may benefit from its soft dollar arrangements pursuant to which it receives research from brokers that execute the Funds’ portfolio transactions. With respect to fixed income securities, however, the Board recognized that such securities generally trade on a principal basis that does not generate soft dollar credits. Nevertheless, the Sub-Adviser may also engage in soft dollar arrangements on behalf of other clients, and the Funds as well as the Sub-Adviser may benefit from the research or other services received. Similarly, the Board recognized that the research received pursuant to soft dollar arrangements by the Sub-Adviser may also benefit a Fund and shareholders to the extent the research enhances the ability of the Sub-Adviser to manage the Fund. The Independent Board Members noted that the Sub-Adviser’s
190 | Nuveen Investments |
profitability may be somewhat lower if it did not receive the research services pursuant to the soft dollar arrangements and had to acquire such services directly.
Based on their review, the Independent Board Members concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.
F. Other Considerations
The Independent Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, unanimously concluded that the terms of each Advisory Agreement are fair and reasonable, that the respective Fund Adviser’s fees are reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.
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Notes
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Glossary of Terms Used in this Report
Average Annual Total Return: This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or offer price and reinvested dividends and capital gains distributions, if any) over the time period being considered.
Barclays 1-10 Year Municipal Bond Index: An unmanaged index comprised of investment-grade municipal bonds with maturity dates of more than 1 year and less than 10 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
Duration: Duration is a measure of the expected period over which a bond’s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond’s (or bond fund’s) value to changes when market interest rates change. Generally, the longer a bond or fund’s duration, the more the price of the bond or fund will change as interest rates change.
Effective Leverage (Effective Leverage Ratio): Effective leverage is investment exposure created either through borrowings or indirectly through inverse floaters, divided by the assets invested, including those assets that were purchased with the proceeds of the leverage, or referenced by the levered instrument.
Inflation Linked Swap: A contractual agreement between two counterparties under which one party agrees to make periodic interest payments to the other for an agreed period of time based on a fixed rate (alternatively, a floating rate based on an interest rate index), while the other party agrees to make periodic payments based on a floating rate of interest based on the Consumer Price Index.
Inverse Floating Rate Securities: Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.
Leverage: Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.
Lipper General Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper General Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.
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Glossary of Terms Used in this Report (continued)
Lipper Intermediate Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Intermediate Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.
Lipper Short-Intermediate Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Short-Intermediate Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charge.
Lipper Short Municipal Debt Funds Classification Average: Represents the average annualized total return for all reporting funds in the Lipper Short Municipal Debt Funds Classification. Lipper returns account for the effects of management fees and assume reinvestment of distributions, but do not reflect any applicable sales charges.
Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash and accrued earnings) less its total liabilities. For funds with multiple classes, Net Assets are determined separately for each share class. NAV per share is equal to the fund’s (or share class’) Net Assets divided by its number of shares outstanding.
Pre-Refundings: Pre-Refundings, also known as advance refundings or refinancings, occur when an issuer sells new bonds and uses the proceeds to fund principal and interest payments of older existing bonds. This process often results in lower borrowing costs for bond issuers.
S&P Municipal Bond Intermediate Index: An unleveraged, market value-weighted index containing all bonds in the S&P Municipal Bond Index that mature between 3 and 14.999 years. Index returns assume reinvestment of dividends but do not reflect any applicable sales charges or management fees.
S&P Municipal Bond Index: An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
S&P Municipal Bond Short Index: An unleveraged, market value-weighted index containing all of the bonds in the S&P Municipal Bond Index with maturities between 6 months and 3.999 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
S&P Municipal Bond Short-Intermediate Index: An unleveraged, market value-weighted index containing all bonds in the S&P Municipal Bond Index that mature between 1 and 7.999 years. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.
Total Investment Exposure: Total investment exposure is a fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities.
Zero Coupon Bond: A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Tax-exempt income to the holder of the bond comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile than the market prices of bonds that pay interest periodically.
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Quarterly Form N-Q Portfolio of Investments Information: Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. You may obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov or in person at the SEC’s Public Reference Room in Washington, D.C. Call the SEC toll-free at (800) SEC -0330 for room hours and operation. | ||||||||||||||
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Nuveen Funds’ Proxy Voting Information: You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787 or on Nuveen’s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov. | ||||||||||||||
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The Financial Industry Regulatory Authority (FINRA) provides a Public Disclosure Program which supplies certain information regarding the disciplinary history of FINRA members and their associated persons in response to either telephone inquiries at (800) 289-9999 or written inquiries at www.finra.org. FINRA also provides an investor brochure that includes information describing the Public Disclosure Program. |
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Serving Investors for Generations | ||||||||||||||
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Since 1898, financial advisors and their clients have relied on Nuveen Investments to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality equity and fixed-income solutions designed to be integral components of a well-diversified core portfolio.
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Focused on meeting investor needs.
Nuveen Investments provides high-quality investment services designed to help secure the longterm goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates-Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $215 billion as of September 30, 2013. | ||||||||||||||
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Find out how we can help you. To learn more about how the products and services of Nuveen Investments may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen Investments, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money. | ||||||||||||||
Learn more about Nuveen Funds at: www.nuveen.com/mf
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Distributed by Nuveen Securities, LLC 333 West Wacker Drive Chicago, IL 60606 | www.nuveen.com |
MSA-NAT-1013D
Item 2. Code of Ethics.
Not applicable to this filing.
Item 3. Audit Committee Financial Expert.
Not applicable to this filing.
Item 4. Principal Accountant Fees and Services.
Not applicable to this filing.
Item 5. Audit Committee of Listed Registrants.
Not applicable to this registrant.
Item 6. Schedule of Investments.
(a) See Portfolio of Investments in Item 1.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to this registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to this registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Exhibits.
File the exhibits listed below as part of this Form.
(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: See EX-99.CERT attached hereto.
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons: Not applicable to this registrant.
(b) If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an Exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registration specifically incorporates it by reference: See EX-99.906 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Funds, Inc.
By | (Signature and Title) | /s/ Kevin J. McCarthy | ||||
Kevin J. McCarthy Vice President and Secretary |
Date: January 6, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | (Signature and Title) | /s/ Gifford R. Zimmerman | ||||
Gifford R. Zimmerman Chief Administrative Officer (principal executive officer) |
Date: January 6, 2014
By | (Signature and Title) | /s/ Stephen D. Foy | ||||
Stephen D. Foy Vice President and Controller (principal financial officer) |
Date: January 6, 2014