Nuveen New York Select Tax-Free Income Portfolio (NXN) NPORT-P Nuveen New York Select Tax-Free Income Portfolio (May 2024 report)

1

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

Portfolio

of

Investments

May

31,

2024

(Unaudited)

NXN

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

LONG-TERM

INVESTMENTS

-

96.9% (100.0%

of

Total

Investments)  

X

47,629,058

MUNICIPAL

BONDS

-

96.9%  (100.0%

of

Total

Investments)

X

47,629,058

Consumer

Staples

-

4.4%

(4.5%

of

Total

Investments)

$

435

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A,

5.000%,

6/01/38

7/24

at

100.00

$

414,368

195

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-

Through

Bonds,

Series

2016A-1,

5.625%,

6/01/35

No

Opt.

Call

198,742

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

1,522,998

Total

Consumer

Staples

2,136,108

Education

and

Civic

Organizations

-

10.7%

(11.1%

of

Total

Investments)

260

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Enterprise

Charter

School

Project,

Series

2011A,

7.500%,

12/01/40

7/24

at

100.00

228,137

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A:

30

4.500%,

6/15/43

6/31

at

100.00

28,665

35

4.750%,

6/15/58

6/31

at

100.00

32,706

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022:

35

5.250%,

7/01/52

7/32

at

100.00

35,794

100

5.250%,

7/01/62

7/32

at

100.00

101,703

100

(c)

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020C-1,

5.000%,

6/01/40

12/30

at

100.00

93,614

115

(c)

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A,

5.000%,

6/01/56

6/29

at

100.00

103,838

140

(c)

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

American

Musical

and

Dramatic

Academy

Inc.,

Series

2023A,

7.250%,

7/01/53

7/33

at

100.00

145,067

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A:

165

5.000%,

7/15/42

7/32

at

100.00

166,021

130

5.000%,

7/15/50

7/32

at

100.00

127,392

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

1,015,920

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

606,440

365

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2016A,

5.000%,

7/01/41

1/27

at

100.00

369,621

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

294,106

1,185

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A,

5.000%,

7/01/35

7/26

at

100.00

1,219,825

250

(c)

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Vaughn

College

of

Aeronautics

&

Technology,

Series

2016A,

5.500%,

12/01/36

12/26

at

100.00

232,674

215

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Capital

Appreciation

Series

2016C,

5.625%,

1/01/55

1/34

at

100.00

190,640

110

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013,

5.000%,

9/01/38

7/24

at

100.00

110,047

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

170,589

Total

Education

and

Civic

Organizations

5,272,799

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

2

NXN

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

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

$

511,202

Total

Financials

511,202

Health

Care

-

12.3%

(12.7%

of

Total

Investments)

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A:

890

4.000%,

5/01/45

5/32

at

100.00

829,118

760

4.250%,

5/01/52

5/32

at

100.00

715,532

1,100

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A,

5.000%,

8/01/34

8/28

at

100.00

1,115,199

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

957,529

300

(c)

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015,

5.000%,

12/01/40

6/25

at

100.00

281,857

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017:

65

(c)

5.000%,

12/01/24

No

Opt.

Call

64,797

200

(c)

5.000%,

12/01/32

6/27

at

100.00

186,015

100

(c)

5.000%,

12/01/35

6/27

at

100.00

89,935

500

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B,

4.000%,

7/01/41

7/26

at

100.00

448,920

195

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2017,

5.000%,

12/01/46

12/26

at

100.00

195,338

420

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2020A,

4.000%,

12/01/46

12/30

at

100.00

366,477

835

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Refunding

Series

2016,

5.000%,

11/01/46

11/25

at

100.00

787,175

25

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Series

2023,

6.250%,

11/01/52

11/33

at

100.00

27,847

Total

Health

Care

6,065,739

Industrials

-

1.8%

(1.8%

of

Total

Investments)

865

(c)

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

3

World

Trade

Center

Project,

Class

1

Series

2014,

5.000%,

11/15/44

11/24

at

100.00

866,558

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

7,842

Total

Industrials

874,400

Long-Term

Care

-

0.2%

(0.2%

of

Total

Investments)

80

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

7/24

at

100.00

75,847

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

21,557

Total

Long-Term

Care

97,404

Materials

-

0.3%

(0.3%

of

Total

Investments)

160

(c)

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)

1/25

at

100.00

160,763

Total

Materials

160,763

3

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Tax

Obligation/General

-

8.2%

(8.4%

of

Total

Investments)

$

1,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Bonds

Series

2019B,

5.000%,

4/01/44

-

AGM

Insured

4/30

at

100.00

$

1,063,666

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

948,675

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

1,096,901

835

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2020

SeriesD-1,

4.000%,

3/01/50

3/30

at

100.00

792,438

117

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1,

4.000%,

7/01/41

7/31

at

103.00

108,754

Total

Tax

Obligation/General

4,010,434

Tax

Obligation/Limited

-

25.6%

(26.5%

of

Total

Investments)

1,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Series

2015A,

5.000%,

3/15/31

3/25

at

100.00

1,007,443

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

963,429

2,975

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2017A

Group

C,

5.000%,

3/15/41

3/27

at

100.00

3,064,401

1,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2018A,

5.000%,

3/15/40

3/28

at

100.00

1,042,637

1,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D,

5.000%,

11/15/25

No

Opt.

Call

1,011,062

250

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Green

Fiscal

2022

Series

A,

4.000%,

2/15/36

2/32

at

100.00

258,088

800

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A,

5.000%,

2/15/45

2/27

at

100.00

817,341

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

1,008,108

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

1,058,435

1,275

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1,

5.000%,

7/01/58

7/28

at

100.00

1,275,414

65

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021B-1,

4.000%,

5/15/56

5/31

at

100.00

60,554

315

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2022

A,

4.000%,

5/15/51

5/32

at

100.00

297,261

685

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C,

5.250%,

5/15/52

5/32

at

100.00

735,763

Total

Tax

Obligation/Limited

12,599,936

Transportation

-

24.5%

(25.3%

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

904,781

620

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2016C-1,

5.250%,

11/15/56

11/26

at

100.00

631,150

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021:

365

4.000%,

10/31/41,

(AMT)

10/31

at

100.00

320,214

85

4.000%,

10/31/46,

(AMT)

10/31

at

100.00

71,340

535

4.000%,

4/30/53,

(AMT)

10/31

at

100.00

431,055

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A:

100

5.000%,

7/01/46,

(AMT)

7/24

at

100.00

99,531

1,110

5.250%,

1/01/50,

(AMT)

7/24

at

100.00

1,105,302

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016:

125

5.000%,

8/01/26,

(AMT)

6/24

at

100.00

125,040

830

5.000%,

8/01/31,

(AMT)

6/24

at

100.00

830,085

Nuveen

New

York

Select

Tax-Free

Income

Portfolio

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

4

NXN

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Transportation

(continued)

$

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

$

31,684

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

1

John

F

Kennedy

International

Airport

Project,

Green

Series

2023:

105

6.000%,

6/30/54,

(AMT)

6/31

at

100.00

115,178

465

5.375%,

6/30/60,

(AMT)

6/31

at

100.00

482,254

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

88,658

130

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

4

John

F

Kennedy

International

Airport

Project,

Series

2020C,

5.000%,

12/01/35

12/30

at

100.00

139,369

265

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

4

John

F

Kennedy

International

Airport

Project,

Series

2022,

5.000%,

12/01/35,

(AMT)

12/32

at

100.00

280,407

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

727,334

300

5.000%,

1/01/31,

(AMT)

1/28

at

100.00

309,495

300

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2023,

6.000%,

4/01/35,

(AMT)

4/31

at

100.00

341,077

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

1,013,501

1,500

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fifth

Series

2017,

5.000%,

11/15/47

11/27

at

100.00

1,546,628

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

1,317,950

1,095

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2017A2,

5.000%,

11/15/42

5/27

at

100.00

1,120,696

Total

Transportation

12,032,729

U.S.

Guaranteed

-

0.1%

(0.1%

of

Total

Investments)

(d)

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

20,348

25

5.000%,

7/01/33,

(Pre-refunded

7/01/25)

7/25

at

100.00

25,435

Total

U.S.

Guaranteed

45,783

Utilities

-

7.8%

(8.0%

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

202,275

140

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Green

Series

2023E,

5.000%,

9/01/53

9/33

at

100.00

150,239

50

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2014A,

5.000%,

9/01/44

9/24

at

100.00

50,075

180

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2016B,

5.000%,

9/01/46

9/26

at

100.00

182,876

1,500

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A,

4.000%,

11/15/60

5/30

at

100.00

1,386,251

265

New

York

State

Power

Authority,

Green

Transmission

Project

Revenue

Bonds,

Green

Series

2023A,

5.000%,

11/15/53

-

AGM

Insured

11/33

at

100.00

284,977

150

(c)

Niagara

Area

Development

Corporation,

New

York,

Solid

Waste

Disposal

Facility

Revenue

Refunding

Bonds,

Covanta

Energy

Project,

Series

2018A,

4.750%,

11/01/42,

(AMT)

7/24

at

100.00

136,909

405

(c)

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A,

5.000%,

7/01/47

7/30

at

100.00

409,206

5

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

(“U.S.

GAAP”)

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund’s

notes

to

financial

statements,

please

refer

to

the

Fund’s

most

recently

filed

annual

or

semi-annual

report.

Fair

Value

Measurements

The

Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Utilities

(continued)

$

1,000

Utility

Debt

Securitization

Authority,

New

York,

Restructuring

Bonds,

Refunding

Series

2015,

5.000%,

12/15/33

12/25

at

100.00

$

1,018,953

Total

Utilities

3,821,761

Total

Municipal

Bonds

(cost

$47,835,390)

47,629,058

Total

Long-Term

Investments

(cost

$47,835,390)

47,629,058

Other

Assets

&

Liabilities,

Net

-

3.1%

1,548,746

Net

Assets

Applicable

to

Common

Shares

-

100%

$

49,177,804

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

47,629,058

$

–

$

47,629,058

Total

$

–

$

47,629,058

$

–

$

47,629,058

(a)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(b)

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.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$2,771,234

or

5.8%

of

Total

Investments.

(d)

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.

AMT

Alternative

Minimum

Tax