NMT
Nuveen Massachusetts Quality
Municipal Income Fund
Portfolio of Investments August 31, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 152.0% (100.0% of Total Investments) | ||||||
MUNICIPAL BONDS – 152.0% (100.0% of Total Investments) | ||||||
Education and Civic Organizations – 45.4% (29.9% of Total Investments) | ||||||
$210 | Lowell, Massachusetts, Collegiate Charter School Revenue Bonds, Series 2019, 5.000%, 6/15/49 | 6/26 at 100.00 | N/R | $213,410 | ||
3,515 | Massachusetts Development Finance Agency, Revenue Bonds, Berklee College of Music, Series 2016, 5.000%, 10/01/39 | 10/26 at 100.00 | A | 4,057,048 | ||
2,200 | Massachusetts Development Finance Agency, Revenue Bonds, Boston College, Series 2013S, 5.000%, 7/01/38 | 7/23 at 100.00 | AA- | 2,425,544 | ||
730 | Massachusetts Development Finance Agency, Revenue Bonds, Boston College, Series 2017T, 5.000%, 7/01/42 | 7/27 at 100.00 | AA- | 881,380 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Tender Option Bond Trust 2016-XG0070: | ||||||
1,880 | 17.770%, 10/01/48, 144A (IF) (4) | 10/23 at 100.00 | AA- | 2,624,386 | ||
575 | 17.666%, 10/01/48, 144A (IF) (4) | 10/23 at 100.00 | AA- | 802,395 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2017A: | ||||||
2,000 | 5.000%, 1/01/34 | 1/28 at 100.00 | BBB+ | 2,326,480 | ||
2,240 | 5.000%, 1/01/37 | 1/28 at 100.00 | BBB+ | 2,585,565 | ||
1,955 | Massachusetts Development Finance Agency, Revenue Bonds, Lesley University, Series 2016, 5.000%, 7/01/35 | 7/26 at 100.00 | A- | 2,239,433 | ||
1,500 | Massachusetts Development Finance Agency, Revenue Bonds, Massachusetts Institute of Technology, Series 2020P, 5.000%, 7/01/50 | No Opt. Call | AAA | 2,438,310 | ||
Massachusetts Development Finance Agency, Revenue Bonds, MCPHS University Issue, Series 2015H: | ||||||
450 | 3.500%, 7/01/35 | 7/25 at 100.00 | AA | 485,942 | ||
190 | 5.000%, 7/01/37 | 7/25 at 100.00 | AA | 220,193 | ||
1,200 | Massachusetts Development Finance Agency, Revenue Bonds, Merrimack College, Series 2017, 5.000%, 7/01/47 | 7/26 at 100.00 | BBB- | 1,255,104 | ||
550 | Massachusetts Development Finance Agency, Revenue Bonds, Northeastern University, Series 2012, 5.000%, 10/01/31 | 10/22 at 100.00 | A1 | 595,007 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Northeastern University, Series 2014A: | ||||||
875 | 5.000%, 3/01/39 | 3/24 at 100.00 | A1 | 974,908 | ||
1,400 | 5.000%, 3/01/44 | 3/24 at 100.00 | A1 | 1,550,920 | ||
500 | Massachusetts Development Finance Agency, Revenue Bonds, Simmons College, Series 2013J, 5.250%, 10/01/39 | 10/23 at 100.00 | BBB+ | 545,795 | ||
1,100 | Massachusetts Development Finance Agency, Revenue Bonds, Simmons University Issue, Series 2020M, 4.000%, 10/01/38 | 10/30 at 100.00 | BBB+ | 1,197,845 |
1
NMT | Nuveen Massachusetts Quality Municipal Income Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Education and Civic Organizations (continued) | ||||||
$1,230 | Massachusetts Development Finance Agency, Revenue Bonds, Sterling and Francine Clark Art Institute, Series 2015, 5.000%, 7/01/33 | 7/25 at 100.00 | AA | $1,447,403 | ||
450 | Massachusetts Development Finance Agency, Revenue Bonds, Suffolk University, Refunding Series 2019, 5.000%, 7/01/36 | 7/29 at 100.00 | Baa2 | 532,976 | ||
Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2017: | ||||||
2,200 | 5.000%, 4/01/35 | 10/27 at 100.00 | AA- | 2,745,072 | ||
1,250 | 5.000%, 4/01/36 | 10/27 at 100.00 | AA- | 1,554,212 | ||
875 | Massachusetts Development Finance Agency, Revenue Bonds, Tufts University, Series 2015Q, 5.000%, 8/15/38 | 8/25 at 100.00 | Aa2 | 1,018,054 | ||
1,325 | Massachusetts Development Finance Agency, Revenue Bonds, Wheaton College, Series 2017H, 5.000%, 1/01/42 | 1/28 at 100.00 | A3 | 1,549,667 | ||
1,510 | Massachusetts Development Finance Agency, Revenue Bonds, Woods Hole Oceanographic Institution, Series 2018, 5.000%, 6/01/43 | 6/28 at 100.00 | AA- | 1,857,617 | ||
1,365 | Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2012, 5.000%, 9/01/50 | 9/22 at 100.00 | A | 1,435,980 | ||
840 | Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2016, 5.000%, 9/01/37 | 9/26 at 100.00 | A | 977,214 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2017: | ||||||
550 | 5.000%, 9/01/42 | 9/27 at 100.00 | A | 645,117 | ||
700 | 5.000%, 9/01/47 | 9/27 at 100.00 | A | 815,626 | ||
2,500 | Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2017B, 5.000%, 9/01/42 | 9/27 at 100.00 | A | 2,932,350 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2019, 4.000%, 9/01/44 | 9/29 at 100.00 | A | 1,096,500 | ||
500 | Massachusetts Development Finance Authority, Revenue Bonds, Suffolk University, Refunding Series 2017, 5.000%, 7/01/35 | 7/27 at 100.00 | Baa2 | 574,060 | ||
3,000 | Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured | No Opt. Call | AA- | 4,721,850 | ||
2,495 | Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2016, 5.000%, 1/01/40 | 7/26 at 100.00 | AA- | 2,977,782 | ||
Massachusetts Development Finance Authority, Revenue Refunding Bonds, Boston University, Series 1999P: | ||||||
1,090 | 6.000%, 5/15/29 | No Opt. Call | Aa3 | 1,450,670 | ||
1,000 | 6.000%, 5/15/59 | 5/29 at 105.00 | Aa3 | 1,335,980 | ||
320 | Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2011J, 5.625%, 7/01/33 (AMT) | 7/21 at 100.00 | AA | 329,011 | ||
255 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northeastern University, Series 2010A, 4.875%, 10/01/35 | 10/20 at 100.00 | A1 | 255,966 | ||
380 | University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2014-1, 5.000%, 11/01/44 | 11/24 at 100.00 | Aa2 | 432,930 | ||
4,000 | University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2015-1, 5.000%, 11/01/40 | 11/25 at 100.00 | Aa2 | 4,693,000 |
2
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Education and Civic Organizations (continued) | ||||||
$690 | University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2020-1, 5.000%, 11/01/36 | 11/29 at 100.00 | Aa2 | $896,641 | ||
52,595 | Total Education and Civic Organizations | 63,695,343 | ||||
Health Care – 31.6% (20.8% of Total Investments) | ||||||
1,000 | Massachusetts Development Finance Agency Revenue Bonds, Children's Hospital Issue, Series 2014P, 5.000%, 10/01/46 | 10/24 at 100.00 | AA | 1,114,910 | ||
1,340 | Massachusetts Development Finance Agency Revenue Bonds, South Shore Hospital, Series 2016I, 5.000%, 7/01/41 | 7/26 at 100.00 | BBB+ | 1,506,763 | ||
1,410 | Massachusetts Development Finance Agency, Hospital Revenue Bonds, Cape Cod Healthcare Obligated Group, Series 2013, 5.250%, 11/15/41 | 11/23 at 100.00 | AA- | 1,542,540 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Baystate Medical Center Issue, Series 2014N, 5.000%, 7/01/44 | 7/24 at 100.00 | A+ | 1,106,350 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Berkshire Health Systems, Series 2012G: | ||||||
895 | 5.000%, 10/01/29 | 10/21 at 100.00 | AA- | 926,531 | ||
700 | 5.000%, 10/01/31 | 10/21 at 100.00 | AA- | 723,142 | ||
500 | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E, 5.000%, 7/01/32 | 7/26 at 100.00 | BBB | 577,225 | ||
1,675 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Refunding Series 2016-I, 5.000%, 7/01/30 | 7/26 at 100.00 | A | 2,014,489 | ||
Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2015H-1: | ||||||
900 | 5.000%, 7/01/30 | 7/25 at 100.00 | A | 1,054,449 | ||
1,000 | 5.000%, 7/01/32 | 7/25 at 100.00 | A | 1,162,710 | ||
500 | 5.000%, 7/01/33 | 7/25 at 100.00 | A | 579,455 | ||
Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2: | ||||||
1,500 | 5.000%, 7/01/38 | 7/28 at 100.00 | A | 1,829,235 | ||
2,000 | 5.000%, 7/01/43 | 7/28 at 100.00 | A | 2,409,520 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Covenant Health System Obligated Group, Series 2012, 5.000%, 7/01/31 | 7/22 at 100.00 | BBB | 1,053,420 | ||
2,800 | Massachusetts Development Finance Agency, Revenue Bonds, Dana-Farber Cancer Institute Issue, Series 2016N, 5.000%, 12/01/46 | 12/26 at 100.00 | A1 | 3,260,236 | ||
3,500 | Massachusetts Development Finance Agency, Revenue Bonds, Lahey Health System Obligated Group Issue, Series 2015F, 5.000%, 8/15/45 | 8/25 at 100.00 | A | 3,984,050 | ||
1,080 | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2014F, 5.750%, 7/15/43 | 7/23 at 100.00 | BB+ | 1,159,607 | ||
100 | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, 5.000%, 7/15/46, 144A, (WI/DD, Settling 9/03/20) | 7/30 at 100.00 | BB+ | 114,699 | ||
3,450 | Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System Issue, Series 2016Q, 5.000%, 7/01/47 | 7/26 at 100.00 | AA- | 4,044,228 |
3
NMT | Nuveen Massachusetts Quality Municipal Income Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Health Care (continued) | ||||||
Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System Issue, Series 2017S-1: | ||||||
$2,200 | 5.000%, 7/01/37 | 1/28 at 100.00 | AA- | $2,694,846 | ||
2,100 | 4.000%, 7/01/41 | 1/28 at 100.00 | AA- | 2,366,763 | ||
820 | Massachusetts Development Finance Agency, Revenue Bonds, Southcoast Health System Obligated Group Issue, Series 2013F, 5.000%, 7/01/37 | 7/23 at 100.00 | BBB+ | 875,875 | ||
Massachusetts Development Finance Agency, Revenue Bonds, The Lowell General Hospital, Series 2013G: | ||||||
1,000 | 5.000%, 7/01/37 | 7/23 at 100.00 | BBB+ | 1,068,140 | ||
2,200 | 5.000%, 7/01/44 | 7/23 at 100.00 | BBB+ | 2,321,814 | ||
610 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017K, 5.000%, 7/01/38 | 1/27 at 100.00 | A- | 699,444 | ||
Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L: | ||||||
400 | 3.625%, 7/01/37 | 7/27 at 100.00 | A- | 411,816 | ||
1,095 | 5.000%, 7/01/44 | 7/27 at 100.00 | A- | 1,245,584 | ||
445 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care, Series 2016I, 5.000%, 7/01/36 | 7/26 at 100.00 | A- | 509,036 | ||
25 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health, Series 2011H, 5.500%, 7/01/31 | 7/21 at 100.00 | BBB+ | 25,722 | ||
280 | Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A, 5.000%, 7/01/44 | 1/29 at 100.00 | BBB+ | 322,661 | ||
100 | Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2020C, 4.000%, 10/01/45 – AGM Insured | 10/30 at 100.00 | AA | 114,731 | ||
1,495 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional Medical Center, Series 2007E, 5.000%, 7/15/32 | 10/20 at 100.00 | BB+ | 1,498,005 | ||
39,120 | Total Health Care | 44,317,996 | ||||
Housing/Multifamily – 1.5% (1.0% of Total Investments) | ||||||
215 | Massachusetts Housing Finance Agency, Housing Bonds, Series 2003H, 5.125%, 6/01/43 | 9/20 at 100.00 | AA | 215,353 | ||
745 | Massachusetts Housing Finance Agency, Housing Bonds, Series 2019B-1, 3.100%, 12/01/44 | 12/28 at 100.00 | AA | 784,634 | ||
1,000 | Massachusetts Housing Finance Agency, Housing Bonds, Series 2020A-1, 3.000%, 12/01/50 | 12/28 at 100.00 | AA | 1,042,130 | ||
1,960 | Total Housing/Multifamily | 2,042,117 | ||||
Long-Term Care – 3.2% (2.1% of Total Investments) | ||||||
Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc Issue, Series 2017: | ||||||
1,040 | 4.125%, 10/01/42, 144A | 10/22 at 105.00 | BB+ | 1,051,762 | ||
250 | 5.000%, 10/01/47, 144A | 10/22 at 105.00 | BB+ | 267,287 | ||
460 | Massachusetts Development Finance Agency, Revenue Bonds, Berkshire Retirement Community Lennox, Series 2015, 5.000%, 7/01/31 | 7/25 at 100.00 | A+ | 518,894 |
4
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Long-Term Care (continued) | ||||||
$485 | Massachusetts Development Finance Agency, Revenue Bonds, Carleton-Willard Village, Series 2019, 4.000%, 12/01/42 | 12/25 at 103.00 | A- | $500,467 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Loomis Communities, Series 2013A, 5.250%, 1/01/26 | 1/23 at 100.00 | BBB | 1,063,660 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Inc, Refunding Series 2019, 5.000%, 10/01/49 | 10/24 at 104.00 | BBB+ | 1,072,720 | ||
4,235 | Total Long-Term Care | 4,474,790 | ||||
Tax Obligation/General – 18.8% (12.3% of Total Investments) | ||||||
1,250 | Hudson, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2011, 5.000%, 2/15/32 | 10/20 at 100.00 | AA | 1,254,038 | ||
330 | Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 | No Opt. Call | Aa1 | 341,213 | ||
1,500 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2004B, 5.250%, 8/01/21 – AGM Insured | No Opt. Call | Aa1 | 1,569,975 | ||
2,000 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2015C, 5.000%, 7/01/45 | 7/25 at 100.00 | Aa1 | 2,350,820 | ||
3,895 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2017F, 5.000%, 11/01/46 | 11/27 at 100.00 | Aa1 | 4,796,576 | ||
4,000 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2019A, 5.250%, 1/01/44 | 1/29 at 100.00 | Aa1 | 5,148,680 | ||
2,500 | Massachusetts State, General Obligation Bonds, Consolidated Loan, Series 2020C, 3.000%, 3/01/47 | 3/30 at 100.00 | Aa1 | 2,691,850 | ||
1,775 | North Reading, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2012, 5.000%, 5/15/35 | 5/22 at 100.00 | Aa2 | 1,903,048 | ||
880 | Norwell, Massachusetts, General Obligation Bonds, Series 2003, 5.000%, 11/15/20 – FGIC Insured | No Opt. Call | AAA | 888,615 | ||
1,950 | Pentucket Regional School District, Massachusetts, General Obligation Bonds, Series 2019, 3.000%, 9/01/42 | 9/27 at 100.00 | Aa2 | 2,054,656 | ||
Quincy, Massachusetts, General Obligation Bonds, State Qualified Municipal Purpose Loan Series 2011: | ||||||
1,280 | 5.125%, 12/01/33 | 12/20 at 100.00 | Aa2 | 1,293,978 | ||
2,000 | 5.250%, 12/01/38 | 12/20 at 100.00 | Aa2 | 2,021,400 | ||
23,360 | Total Tax Obligation/General | 26,314,849 | ||||
Tax Obligation/Limited – 19.0% (12.5% of Total Investments) | ||||||
Government of Guam, Business Privilege Tax Bonds, Series 2011A: | ||||||
2,000 | 5.250%, 1/01/36 | 1/22 at 100.00 | BB | 2,062,520 | ||
1,310 | 5.125%, 1/01/42 | 1/22 at 100.00 | BB | 1,344,296 | ||
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1: | ||||||
400 | 5.000%, 1/01/37 | 1/22 at 100.00 | BB | 410,720 | ||
1,115 | 5.000%, 1/01/42 | 1/22 at 100.00 | BB | 1,142,106 | ||
855 | Martha's Vineyard Land Bank, Massachusetts, Revenue Bonds, Refunding Green Series 2014, 5.000%, 5/01/33 – BAM Insured | 11/24 at 100.00 | AA | 982,480 |
5
NMT | Nuveen Massachusetts Quality Municipal Income Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
$500 | Martha's Vineyard Land Bank, Massachusetts, Revenue Bonds, Refunding Green Series 2017, 5.000%, 5/01/35 | 5/27 at 100.00 | AA | $613,865 | ||
1,000 | Massachusetts Bay Transportation Authority, Assessment Bonds, Series 2012A, 5.000%, 7/01/41 | 7/22 at 100.00 | AAA | 1,076,920 | ||
770 | Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Refunding Senior Lien Series 2004C, 5.250%, 7/01/21 | No Opt. Call | AA | 802,517 | ||
2,000 | Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Subordinated Series 2020B-1, 5.000%, 7/01/41 | 7/28 at 100.00 | AA | 2,496,960 | ||
1,000 | Massachusetts College Building Authority, Project Revenue Bonds, Refunding Series 2003B, 5.375%, 5/01/23 – SYNCORA GTY Insured | No Opt. Call | AA | 1,135,310 | ||
1,350 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Refunding Series 2015C, 5.000%, 8/15/37 | 8/25 at 100.00 | AAA | 1,618,542 | ||
885 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/38 | 5/23 at 100.00 | AA+ | 982,049 | ||
2,000 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Subordinated Series 2018A, 5.250%, 2/15/48 | 2/28 at 100.00 | AA+ | 2,505,440 | ||
1,500 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Subordinated Series 2019A, 5.000%, 2/15/44 | 2/29 at 100.00 | AA+ | 1,887,645 | ||
1,500 | Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement Program, Series 2015A, 5.000%, 6/01/45 | 6/25 at 100.00 | AA+ | 1,751,280 | ||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1: | ||||||
863 | 4.550%, 7/01/40 | 7/28 at 100.00 | N/R | 919,078 | ||
820 | 0.000%, 7/01/46 | 7/28 at 41.38 | N/R | 235,233 | ||
4,205 | 0.000%, 7/01/51 | 7/28 at 30.01 | N/R | 869,258 | ||
775 | 4.750%, 7/01/53 | 7/28 at 100.00 | N/R | 814,556 | ||
1,259 | 5.000%, 7/01/58 | 7/28 at 100.00 | N/R | 1,344,234 | ||
520 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 5.000%, 10/01/32 – AGM Insured | 10/22 at 100.00 | AA | 560,508 | ||
1,000 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2012A, 5.000%, 10/01/32 – AGM Insured | 10/22 at 100.00 | AA | 1,077,900 | ||
27,627 | Total Tax Obligation/Limited | 26,633,417 | ||||
Transportation – 8.4% (5.5% of Total Investments) | ||||||
2,500 | Massachusetts Port Authority, Revenue Bonds, Refunding Series 2017A, 5.000%, 7/01/47 (AMT) | 7/27 at 100.00 | Aa2 | 2,938,525 | ||
1,000 | Massachusetts Port Authority, Revenue Bonds, Series 2012B, 5.000%, 7/01/33 | 7/22 at 100.00 | Aa2 | 1,078,820 | ||
Massachusetts Port Authority, Revenue Bonds, Series 2014A: | ||||||
1,000 | 5.000%, 7/01/39 | 7/24 at 100.00 | Aa2 | 1,137,370 | ||
2,500 | 5.000%, 7/01/44 | 7/24 at 100.00 | Aa2 | 2,825,950 | ||
Massachusetts Port Authority, Revenue Bonds, Series 2015A: | ||||||
715 | 5.000%, 7/01/40 | 7/25 at 100.00 | Aa2 | 829,472 | ||
1,000 | 5.000%, 7/01/45 | 7/25 at 100.00 | Aa2 | 1,152,060 |
6
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Transportation (continued) | ||||||
$1,000 | Massachusetts Port Authority, Special Facilities Revenue Bonds, BOSFUEL Corporation, Series 2019A, 4.000%, 7/01/44 (AMT) | 7/29 at 100.00 | A1 | $1,087,130 | ||
730 | Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Parking Revenue Bonds, Senior Lien Series 2011, 5.000%, 7/01/41 | 7/21 at 100.00 | A1 | 751,739 | ||
10,445 | Total Transportation | 11,801,066 | ||||
U.S. Guaranteed – 14.3% (9.4% of Total Investments) (5) | ||||||
2,000 | Hampden-Wilbraham Regional School District, Hampden County, Massachusetts, General Obligation Bonds, Series 2011, 5.000%, 2/15/41 (Pre-refunded 2/15/21) | 2/21 at 100.00 | Aa3 | 2,043,980 | ||
1,610 | Massachusetts College Building Authority, Project Revenue Bonds, Green Series 2014B, 5.000%, 5/01/44 (Pre-refunded 5/01/24) | 5/24 at 100.00 | Aa2 | 1,890,027 | ||
855 | Massachusetts College Building Authority, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/01/37 (Pre-refunded 5/01/22) | 5/22 at 100.00 | Aa2 | 923,434 | ||
2,150 | Massachusetts Development Finance Agency, Revenue Bonds, Lesley University, Series 2011B-1, 5.250%, 7/01/33 (Pre-refunded 7/01/21) – AGM Insured | 7/21 at 100.00 | AA | 2,239,870 | ||
434 | Massachusetts Development Finance Agency, Revenue Bonds, North Hill Communities Issue, Series 2013A, 6.250%, 11/15/28 (Pre-refunded 11/15/23), 144A | 11/23 at 100.00 | N/R | 496,335 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2012L: | ||||||
995 | 5.000%, 7/01/36 (Pre-refunded 7/01/21) | 7/21 at 100.00 | N/R | 1,034,531 | ||
5 | 5.000%, 7/01/36 (Pre-refunded 7/01/21) | 7/21 at 100.00 | AA- | 5,199 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, Sterling and Francine Clark Art Institute, Series 2011A, 5.000%, 7/01/41 (Pre-refunded 7/01/21) | 7/21 at 100.00 | AA | 1,040,150 | ||
3,000 | Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2011A, 5.250%, 4/01/37 (Pre-refunded 4/01/21) | 4/21 at 100.00 | Aa3 | 3,088,920 | ||
475 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health, Series 2011H, 5.500%, 7/01/31 (Pre-refunded 7/01/21) | 7/21 at 100.00 | N/R | 496,043 | ||
410 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc, Series 1998A, 5.000%, 7/01/25 (Pre-refunded 7/01/21) – NPFG Insured | 7/21 at 100.00 | N/R | 425,412 | ||
990 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/38 (Pre-refunded 5/15/23) | 5/23 at 100.00 | N/R | 1,118,027 | ||
1,000 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2011B, 5.000%, 10/15/41 (Pre-refunded 10/15/21) | 10/21 at 100.00 | AAA | 1,053,990 | ||
1,500 | Massachusetts State, Transportation Fund Revenue Bonds, Rail Enhancement Program, Series 2013A, 5.000%, 6/01/38 (Pre-refunded 6/01/21) | 6/21 at 100.00 | AA+ | 1,554,300 | ||
720 | Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 (Pre-refunded 11/15/20) – AGC Insured | 11/20 at 100.00 | AA | 727,121 | ||
1,620 | University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2014-1, 5.000%, 11/01/44 (Pre-refunded 11/01/24) | 11/24 at 100.00 | N/R | 1,937,795 | ||
18,764 | Total U.S. Guaranteed | 20,075,134 | ||||
Utilities – 1.0% (0.7% of Total Investments) | ||||||
1,265 | Massachusetts Clean Energy Cooperative Corporation, Revenue Bonds, Massachusetts Municipal Lighting Plant Cooperative, Series 2013, 5.000%, 7/01/32 | 7/23 at 100.00 | AA- | 1,405,276 |
7
NMT | Nuveen Massachusetts Quality Municipal Income Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Water and Sewer – 8.8% (5.8% of Total Investments) | ||||||
$565 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2014A, 5.000%, 7/01/29 | 7/24 at 100.00 | A- | $635,563 | ||
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017: | ||||||
1,250 | 5.000%, 7/01/37 | 7/27 at 100.00 | A- | 1,461,263 | ||
420 | 5.000%, 7/01/40 | 7/27 at 100.00 | A- | 487,628 | ||
415 | Lynn Water and Sewer Commission, Massachusetts, General Revenue Bonds, Series 2003A, 5.000%, 12/01/32 – NPFG Insured | 10/20 at 100.00 | A1 | 416,457 | ||
1,000 | Massachusetts Clean Water Trust, State Revolving Fund Bonds, Green 18 Series 2015, 5.000%, 2/01/45 | 2/24 at 100.00 | AAA | 1,129,000 | ||
60 | Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2003-9, 5.000%, 8/01/22 | 10/20 at 100.00 | AAA | 60,235 | ||
500 | Massachusetts Water Resources Authority, General Revenue Bonds, Refunding Series 2016B, 5.000%, 8/01/40 | 8/26 at 100.00 | AA+ | 611,670 | ||
1,230 | Massachusetts Water Resources Authority, General Revenue Bonds, Series 2017B, 5.000%, 8/01/42 | 8/27 at 100.00 | AA+ | 1,519,308 | ||
2,000 | Massachusetts Water Resources Authority, General Revenue Bonds, Series 2019B, 5.000%, 8/01/44 | 8/29 at 100.00 | AA+ | 2,570,860 | ||
1,130 | Massachusetts Water Resources Authority, General Revenue Bonds, Series 2020B, 5.000%, 8/01/45 | 8/30 at 100.00 | AA+ | 1,481,125 | ||
1,000 | Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Series 2017C, 5.000%, 4/15/37 | 4/27 at 100.00 | AA | 1,226,010 | ||
635 | Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Series 2019E, 4.000%, 4/15/38 | 4/29 at 100.00 | AA | 748,646 | ||
10,205 | Total Water and Sewer | 12,347,765 | ||||
$189,576 | Total Long-Term Investments (cost $197,422,750) | 213,107,753 | ||||
Variable Rate Demand Preferred Shares, net of deferred offering costs – (52.6)% (6) | (73,741,501) | |||||
Other Assets Less Liabilities – 0.6% | 823,563 | |||||
Net Asset Applicable to Common Shares – 100% | $140,189,815 |
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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. 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. 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, credit spreads, 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 the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $213,107,753 | $ — | $213,107,753 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
(3) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
(4) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. | |
(5) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. | |
(6) | Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 34.6%. | |
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 | |
IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. |
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