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Nuveen New York Select Tax-Free Income Portfolio (NXN) NPORT-PNuveen New York Select Tax-Free Income Portfolio (May 2022 report)

Filed: 28 Jul 22, 11:07am

1

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

Portfolio

of

Investments

May

31,

2022

(Unaudited)

NXN

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

96.4% (100.0%

of

Total

Investments)

MUNICIPAL

BONDS

-

96.4% (100.0%

of

Total

Investments)

Consumer

Staples

-

4.8%

(5.0%

of

Total

Investments)

$

435

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A,

5.000%,

6/01/38

7/22

at

100.00

B-

$

435,122

290

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-

Through

Bonds,

Series

2016A-1,

5.625%,

6/01/35

No

Opt.

Call

BBB

301,046

1,530

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-

Through

Bonds,

Series

Series

2016A-1,

5.750%,

6/01/43

No

Opt.

Call

BB+

1,723,484

2,255

Total

Consumer

Staples

2,459,652

Education

and

Civic

Organizations

-

11.6%

(12.1%

of

Total

Investments)

270

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Enterprise

Charter

School

Project,

Series

2011A,

7.500%,

12/01/40

7/22

at

100.00

CCC

270,130

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

South

Bronx

Charter

School

for

International

Cultures

and

the

Arts

Project,

Series

2013A:

75

5.000%,

4/15/33

4/23

at

100.00

BB+

75,752

110

5.000%,

4/15/43

4/23

at

100.00

BB+

110,728

100

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020C-1,

5.000%,

6/01/40,

144A

12/30

at

100.00

N/R

92,609

150

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Saint

Johns

University,

Series

2013A,

5.000%,

7/01/44

7/23

at

100.00

A-

152,238

1,000

Dormitory

Authority

of

the

State

of

New

York,

Housing

Revenue

Bonds,

Fashion

Institute

of

Technology,

Series

2007,

5.250%,

7/01/34

-

FGIC

Insured

No

Opt.

Call

Baa2

1,065,610

605

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Icahn

School

of

Medicine

at

Mount

Sinai,

Refunding

Series

2015A,

5.000%,

7/01/40

7/25

at

100.00

A-

629,103

180

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2022A,

4.000%,

7/01/52

7/32

at

100.00

N/R

172,786

290

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2015A,

5.000%,

7/01/35

7/25

at

100.00

Aa2

311,492

1,185

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A,

5.000%,

7/01/39

7/26

at

100.00

Aa2

1,288,533

70

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rochester

Institute

of

Technology,

Series

2019A,

5.000%,

7/01/49

7/29

at

100.00

A1

76,909

250

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Vaughn

College

of

Aeronautics

&

Technology,

Series

2016A,

5.500%,

12/01/36,

144A

12/26

at

100.00

BB-

259,560

215

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Capital

Appreciation

Series

2016C,

0.000%,

1/01/55

(4)

1/34

at

100.00

N/R

200,485

110

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013,

5.000%,

9/01/38

9/23

at

100.00

A-

111,959

295

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Queens

Baseball

Stadium

Project,

Refunding

Series

2021A,

3.000%,

1/01/40

-

AGM

Insured

1/31

at

100.00

AA

261,072

180

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A,

4.000%,

3/01/45

-

AGM

Insured

9/30

at

100.00

N/R

179,330

350

New

York

City

Trust

for

Cultural

Resources,

New

York,

Revenue

Bonds,

Whitney

Museum

of

American

Art,

Refunding

Series

2021,

5.000%,

7/01/31

No

Opt.

Call

AA

408,993

190

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

Bank

of

America

Tower

at

One

Bryant

Park

Project,

Second

Priority

Refunding

Series

2019

Class

2,

2.625%,

9/15/69

3/29

at

100.00

A2

176,744

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

2

NXN

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Education

and

Civic

Organizations

(continued)

$

145

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

Bank

of

America

Tower

at

One

Bryant

Park

Project,

Second

Priority

Refunding

Series

2019

Class

3,

2.800%,

9/15/69

3/29

at

100.00

Baa2

$

135,694

5,770

Total

Education

and

Civic

Organizations

5,979,727

Financials

-

1.0%

(1.1%

of

Total

Investments)

450

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarter

Revenue

Bonds,

Series

2005,

5.250%,

10/01/35

No

Opt.

Call

A2

531,860

Health

Care

-

7.2%

(7.5%

of

Total

Investments)

760

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A,

4.250%,

5/01/52

5/32

at

100.00

N/R

763,223

1,100

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A,

4.000%,

9/01/50

3/30

at

100.00

BBB-

1,013,914

1,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A,

4.000%,

7/01/50

7/30

at

100.00

A

1,008,130

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B:

250

4.000%,

7/01/41

7/26

at

100.00

A-

249,950

500

5.000%,

7/01/46

7/26

at

100.00

A-

520,915

140

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2022A,

5.250%,

12/01/52

12/32

at

100.00

N/R

151,057

3,750

Total

Health

Care

3,707,189

Industrials

-

3.7%

(3.8%

of

Total

Investments)

1,865

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

3

World

Trade

Center

Project,

Class

1

Series

2014,

5.000%,

11/15/44,

144A

11/24

at

100.00

N/R

1,873,057

10

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

7

World

Trade

Center

Project,

Refunding

Green

Series

2022A-

CL2,

3.500%,

9/15/52

3/30

at

100.00

N/R

8,939

1,875

Total

Industrials

1,881,996

Long-Term

Care

-

0.3%

(0.2%

of

Total

Investments)

100

Dormitory

Authority

of

the

State

of

New

York,

Non-State

Supported

Debt,

Ozanam

Hall

of

Queens

Nursing

Home

Revenue

Bonds,

Series

2006,

5.000%,

11/01/31

7/22

at

100.00

A2

100,747

25

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Saint

Ann?s

Community

Project,

Series

2019,

5.000%,

1/01/40

1/26

at

103.00

N/R

23,548

125

Total

Long-Term

Care

124,295

Materials

-

0.3%

(0.3%

of

Total

Investments)

160

Build

New

York

City

Resource

Corporation,

New

York,

Solid

Waste

Disposal

Revenue

Bonds,

Pratt

Paper

NY,

Inc.

Project,

Series

2014,

5.000%,

1/01/35,

(AMT),

144A

1/25

at

100.00

N/R

164,910

Tax

Obligation/General

-

8.7%

(9.0%

of

Total

Investments)

1,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Bonds

Series

2019B,

5.000%,

4/01/49

-

AGM

Insured

4/30

at

100.00

AA

1,107,810

1,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2021A,

4.000%,

4/01/51

-

AGM

Insured

4/31

at

100.00

AA

1,004,850

1,080

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2017

Series

B-1,

5.000%,

12/01/41

12/26

at

100.00

AA

1,172,621

835

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2020

SeriesD-1,

4.000%,

3/01/44

3/30

at

100.00

AA

863,248

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1:

117

4.000%,

7/01/41

7/31

at

103.00

N/R

111,141

244

4.000%,

7/01/46

7/31

at

103.00

N/R

228,279

4,276

Total

Tax

Obligation/General

4,487,949

3

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Tax

Obligation/Limited

-

18.1%

(18.8%

of

Total

Investments)

$

1,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Bidding

Group

1

Through

5,

Series

2020A,

4.000%,

3/15/44

9/30

at

100.00

AA+

$

1,028,610

1,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2015B.

Group

A,B&C,

5.000%,

3/15/35

9/25

at

100.00

AA+

1,074,190

1,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D,

5.000%,

11/15/25

No

Opt.

Call

BB

1,077,150

250

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Green

Fiscal

2022

Series

A,

4.000%,

2/15/37

2/32

at

100.00

N/R

260,870

800

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A,

5.000%,

2/15/38

2/27

at

100.00

Aa3

861,904

1,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

Series

2015S-2,

5.000%,

7/15/40

7/25

at

100.00

AA

1,052,160

1,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2013

Series

I,

5.000%,

5/01/38

5/23

at

100.00

AAA

1,021,980

450

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2014

Series

D-1,

5.000%,

2/01/35

2/24

at

100.00

AAA

468,517

1,120

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Group

1,

Series

2019A,

4.000%,

3/15/48

9/28

at

100.00

N/R

1,143,946

235

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1,

5.000%,

7/01/58

7/28

at

100.00

N/R

239,514

315

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021C-1A,

4.000%,

5/15/46

11/31

at

100.00

N/R

324,995

750

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021C-3,

4.000%,

5/15/51

11/31

at

100.00

N/R

770,580

8,920

Total

Tax

Obligation/Limited

9,324,416

Transportation

-

21.8%

(22.6%

of

Total

Investments)

900

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2014D-1,

5.000%,

11/15/39

11/24

at

100.00

A3

937,683

190

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

4.000%,

4/30/53,

(AMT)

10/31

at

100.00

BBB-

176,107

980

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

5.000%,

7/01/46,

(AMT)

7/24

at

100.00

BBB

1,013,791

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016:

200

5.000%,

8/01/26,

(AMT)

6/22

at

100.00

B

200,014

830

5.000%,

8/01/31,

(AMT)

6/22

at

100.00

B

830,058

30

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Series

2020,

5.375%,

8/01/36,

(AMT)

8/30

at

100.00

B

32,620

85

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

4

John

F

Kennedy

International

Airport

Project,

Series

2020A,

5.000%,

12/01/37,

(AMT)

12/30

at

100.00

Baa1

90,833

100

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

4

John

F

Kennedy

International

Airport

Project,

Series

2020C,

5.000%,

12/01/37

12/30

at

100.00

Baa1

107,757

265

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

4

John

F

Kennedy

International

Airport

Project,

Series

2022,

5.000%,

12/01/41,

(AMT)

12/32

at

100.00

N/R

284,448

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018:

700

5.000%,

1/01/28,

(AMT)

No

Opt.

Call

Baa3

736,554

300

5.000%,

1/01/31,

(AMT)

1/28

at

100.00

Baa3

312,663

1,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

One

Hundred

Ninety-Fourth

Series

2015,

5.250%,

10/15/55

10/25

at

100.00

Aa3

1,057,350

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

May

31,

2022

(Unaudited)

4

NXN

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

(“U.S.

GAAP”)

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund’s

notes

to

financial

statements,

please

refer

to

the

Fund’s

most

recently

filed

annual

or

semi-annual

report.

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Transportation

(continued)

$

1,500

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eleventh

Series

2018,

5.000%,

9/01/48

9/28

at

100.00

Aa3

$

1,669,155

1,475

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twenty-One

Series

2020,

4.000%,

7/15/55,

(AMT)

7/30

at

100.00

Aa3

1,476,283

1,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Refunding

Series

2017B,

5.000%,

11/15/36

5/27

at

100.00

AA-

1,096,830

1,095

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2017A,

5.000%,

11/15/47

5/27

at

100.00

AA-

1,185,414

10,650

Total

Transportation

11,207,560

U.S.

Guaranteed

-

2.1%

(2.2%

of

Total

Investments)

(5)

Dormitory

Authority

of

the

State

of

New

York,

Lease

Revenue

Bonds,

State

University

Dormitory

Facilities,

Series

2015A:

20

5.000%,

7/01/31,

(Pre-refunded

7/01/25)

7/25

at

100.00

Aa3

21,768

25

5.000%,

7/01/33,

(Pre-refunded

7/01/25)

7/25

at

100.00

Aa3

27,209

1,005

New

York

City

Trust

for

Cultural

Resources,

New

York,

Revenue

Bonds,

Wildlife

Conservation

Society,

Series

2014A,

5.000%,

8/01/32,

(Pre-

refunded

8/01/23)

8/23

at

100.00

A+

1,044,537

1,050

Total

U.S.

Guaranteed

1,093,514

Utilities

-

16.8%

(17.4%

of

Total

Investments)

200

Buffalo

Municipal

Water

Finance

Authority,

New

York,

Water

System

Revenue

Bonds,

Refunding

Series

2015A,

5.000%,

7/01/29

7/25

at

100.00

A+

215,562

35

Guam

Power

Authority,

Revenue

Bonds,

Series

2012A,

5.000%,

10/01/34

10/22

at

100.00

BBB

35,406

50

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2014A,

5.000%,

9/01/44

9/24

at

100.00

A

52,093

180

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2017,

5.000%,

9/01/47

9/27

at

100.00

A

197,770

3,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2018

Series

EE,

5.000%,

6/15/40

12/27

at

100.00

AA+

3,305,430

1,000

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

Bonds,

Subordinated

SRF

Series

2017A,

5.000%,

6/15/42

6/27

at

100.00

AAA

1,098,290

150

Niagara

Area

Development

Corporation,

New

York,

Solid

Waste

Disposal

Facility

Revenue

Refunding

Bonds,

Covanta

Energy

Project,

Series

2018A,

4.750%,

11/01/42,

(AMT),

144A

7/23

at

100.00

B1

149,799

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Senior

Lien

Series

2012A:

25

5.500%,

7/01/28

7/22

at

100.00

CCC

25,083

100

5.750%,

7/01/37

7/22

at

100.00

CCC

100,351

80

6.000%,

7/01/47

7/22

at

100.00

CCC

80,296

1,365

Utility

Debt

Securitization

Authority,

New

York,

Restructuring

Bonds,

Series

2013TE,

5.000%,

12/15/41

12/23

at

100.00

AAA

1,418,057

1,750

Utility

Debt

Securitization

Authority,

New

York,

Restructuring

Bonds,

Series

2016B,

5.000%,

12/15/35

6/26

at

100.00

AAA

1,928,972

7,935

Total

Utilities

8,607,109

$

47,216

Total

Long-Term

Investments

(cost

$48,905,436)

49,570,177

Other

Assets

Less

Liabilities

-

3.6%

1,835,152

Net

Assets

Applicable

to

Common

Shares

-

100%

$

51,405,329

5

Fair

Value

Measurements

The

Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

49,570,177

$

–

$

49,570,177

Total

$

–

$

49,570,177

$

–

$

49,570,177

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

(3)

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

(4)

Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(5)

Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

144A

Investment

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

investments

may

only

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

AMT

Alternative

Minimum

Tax

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