Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
September 27 2023 - 1:54PM
Edgar (US Regulatory)
Nuveen
Municipal
Credit
Opportunities
Fund
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
173.1%
(100.0%
of
Total
Investments)
X
–
MUNICIPAL
BONDS
-
161
.3
%
(
93
.2
%
of
Total
Investments)
X
1,036,337,854
Alabama
-
5.9%
(3.4%
of
Total
Investments)
$
395
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
6.375%,
11/01/50,
(AMT),
(Mandatory
Put
11/01/30)
No
Opt.
Call
B1
$
436,222
36,450
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Series
2019,
5.750%,
10/01/49,
(AMT)
10/29
at
100.00
B1
36,671,616
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A:
389
4.500%,
5/01/32,
144A
5/29
at
100.00
N/R
363,061
500
5.250%,
5/01/44,
144A
5/29
at
100.00
N/R
453,030
Total
Alabama
37,923,929
Arizona
-
5.0%
(2.9%
of
Total
Investments)
4,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Leman
Academy
of
Excellence
?
East
Tucson
&
Central
Tucson
Projects,
Series
2019A,
5.000%,
7/01/49,
144A
7/24
at
101.00
N/R
3,524,840
340
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Pinecrest
Academy-Cadence
Campus
Project,
Series
2020A,
4.000%,
7/15/40,
144A
7/28
at
100.00
BB+
284,223
1,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Gateway
Academy
Project,
Series
2019A,
5.750%,
1/01/50,
144A
1/30
at
100.00
N/R
864,280
Maricopa
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Legacy
Traditional
Schools
Projects,
Taxable
Series
2019B:
2,000
5.000%,
7/01/39,
144A
7/29
at
100.00
Ba2
1,906,980
3,855
5.000%,
7/01/49,
144A
7/29
at
100.00
Ba2
3,502,383
3,025
5.000%,
7/01/54,
144A
7/29
at
100.00
Ba2
2,686,745
315
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020,
5.500%,
10/01/51,
144A
10/27
at
103.00
N/R
310,974
11,400
Maricopa
County
Pollution
Control
Corporation,
Arizona,
Pollution
Control
Revenue
Bonds,
El
Paso
Electric
Company,
Refunding
Series
2009A,
3.600%,
2/01/40
6/29
at
100.00
Baa2
9,954,708
600
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Basis
Schools,
Inc.
Projects,
Series
2016A,
5.000%,
7/01/35,
144A
7/25
at
100.00
BB
600,732
280
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Northwest
Christian
School
Project,
Series
2020A,
5.000%,
9/01/55,
144A
9/30
at
100.00
Ba2
224,616
2,700
Phoenix
Industrial
Development
Authority,
Arizona,
Lease
Revenue
Bonds,
Guam
Facilities
Foundation,
Inc.
Project,
Series
2014,
5.375%,
2/01/41
2/24
at
100.00
B+
2,664,738
500
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
American
Leadership
Academy
Project,
Series
2019,
5.000%,
6/15/52,
144A
6/25
at
100.00
N/R
443,595
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
1,000
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Series
2019,
5.875%,
7/01/51,
144A
7/26
at
103.00
N/R
$
991,150
50
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Imagine
East
Mesa
Charter
Schools
Project,
Series
2019,
5.000%,
7/01/49,
144A
7/26
at
100.00
N/R
44,976
380
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020,
5.250%,
6/15/50,
144A
6/28
at
100.00
N/R
338,930
1,000
Sierra
Vista
Industrial
Development
Authority,
Arizona,
Economic
Development
Revenue
Bonds,
Convertible
Capital
Appreciation
Revenue
Bonds,
Series
2021A,
5.375%,
10/01/56
10/29
at
103.00
N/R
718,970
Tempe
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Mirabella
at
ASU
Project,
Series
2017A:
2,205
6.000%,
10/01/37,
144A
10/27
at
100.00
N/R
1,566,212
2,350
6.125%,
10/01/52,
144A
10/27
at
100.00
N/R
1,432,419
Total
Arizona
32,061,471
Arkansas
-
2.7%
(1.5%
of
Total
Investments)
10,585
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
5.450%,
9/01/52,
(AMT),
144A
9/25
at
105.00
BB-
10,584,471
2,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT),
144A
9/26
at
103.00
BB-
1,822,520
5,000
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2020A,
4.750%,
9/01/49,
(AMT),
144A
9/27
at
103.00
BB-
4,735,100
Total
Arkansas
17,142,091
California
-
6.8%
(3.9%
of
Total
Investments)
3,000
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
K
Street
Flats,
Series
2021A-2,
4.000%,
8/01/50,
144A
8/32
at
100.00
N/R
2,180,520
4,500
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Serenity
at
Larkspur
Apartments,
Series
2020A,
5.000%,
2/01/50,
144A
2/30
at
100.00
N/R
3,681,360
1,555
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Los
Angeles
County
Securitization
Corporation,
Series
2020B-2,
0.000%,
6/01/55
6/30
at
26.72
N/R
265,579
1,520
California
Enterprise
Development
Authority,
Charter
School
Revenue
Bonds,
Norton
Science
and
Language
Academy
Project,
Series
2020,
6.250%,
7/01/58,
144A
7/27
at
102.00
N/R
1,530,321
4,000
California
Municipal
Finance
Authority,
Revenue
Bonds,
Simpson
University,
Series
2020A,
6.000%,
10/01/50,
144A
10/27
at
103.00
N/R
4,025,000
1,385
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A,
5.125%,
7/01/55,
144A
7/28
at
100.00
N/R
1,106,670
320
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A,
5.000%,
11/15/51,
144A
11/29
at
102.00
N/R
282,176
California
School
Finance
Authority,
California,
Charter
School
Revenue
Bonds,
Encore
Education
Obligated
Group,
Series
2016A:
4,020
5.000%,
6/01/42,
144A
6/26
at
100.00
N/R
3,257,567
4,380
5.000%,
6/01/52,
144A
6/26
at
100.00
N/R
3,326,478
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Arts
in
Action
Charter
Schools
-
Obligated
Group,
Series
2020A:
$
1,410
5.000%,
6/01/50,
144A
6/27
at
100.00
N/R
$
1,003,793
1,200
5.000%,
6/01/59,
144A
6/27
at
100.00
N/R
816,636
1,000
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
?
Obligated
Group,
Series
2020A,
5.000%,
6/01/60,
144A
6/28
at
100.00
N/R
737,870
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A:
1,480
5.000%,
12/01/41,
144A
6/26
at
100.00
BB
1,472,511
10,090
5.250%,
12/01/56,
144A
6/26
at
100.00
BB
10,094,339
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005A:
48
5.750%,
7/01/24
(4),(5)
9/23
at
100.00
N/R
47,622
0
5.750%,
7/01/30
(4),(5)
9/23
at
100.00
N/R
603
23
5.750%,
7/01/35
(4),(5)
9/23
at
100.00
N/R
22,832
40
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005G,
5.500%,
7/01/24
(4),(5)
1/22
at
100.00
N/R
39,950
17
California
Statewide
Community
Development
Authority,
Revenue
Bonds,
Daughters
of
Charity
Health
System,
Series
2005H,
5.750%,
7/01/25
(4),(5)
9/23
at
100.00
N/R
17,030
25,000
California
Statewide
Financing
Authority,
Tobacco
Settlement
Asset-
Backed
Bonds,
Pooled
Tobacco
Securitization
Program,
Series
2006A,
0.000%,
6/01/46
8/23
at
24.59
N/R
6,133,500
2,500
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Vineyard
Gardens
Apartments,
Senior
Lien
Series
2021A,
3.250%,
10/01/58,
144A
4/32
at
100.00
N/R
1,669,325
2,000
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Wood
Creek
Apartments,
Mezzanine
Lien
Series
2021A-2,
4.000%,
12/01/58
6/32
at
100.00
N/R
1,507,160
615
Los
Angeles
Department
of
Airports,
California,
Revenue
Bonds,
Los
Angeles
International
Airport,
Refunding
Subordinate
Lien
Private
Activity
Series
2021A,
5.000%,
5/15/39,
(AMT)
5/31
at
100.00
AA-
658,456
Total
California
43,877,298
Colorado
-
12.1%
(7.0%
of
Total
Investments)
3,000
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
5.750%,
12/01/51
12/28
at
103.00
N/R
2,725,020
2,000
Bradley
Heights
Metropolitan
District
2,
Colorado
Springs,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A-3,
4.750%,
12/01/51
9/26
at
103.00
N/R
1,515,720
963
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.000%,
12/01/35
6/24
at
103.00
N/R
786,184
3,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.000%,
12/01/49
6/24
at
103.00
N/R
2,333,040
1,000
Broadway
Station
Metropolitan
District
3,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Convertible
to
Senior
Capital
Appreciation
Series
2019B,
7.500%,
12/01/49
6/24
at
79.97
N/R
620,970
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
500
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds
World
Compass
Academy
Project,
Series
2017,
5.375%,
10/01/37
10/27
at
100.00
N/R
$
438,700
3,145
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Belle
Creek
Charter
School,
Series
2022A,
5.250%,
3/15/52,
144A
3/32
at
100.00
Ba2
2,941,990
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
Loveland
Classical
Schools
Project,
Series
2016:
500
3.750%,
7/01/26,
144A
No
Opt.
Call
BB+
485,595
500
5.000%,
7/01/36,
144A
7/26
at
100.00
BB+
490,655
10,170
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Rocky
Mountain
Classical
Academy
Project,
Refunding
Series
2019,
5.000%,
10/01/59,
144A
10/27
at
100.00
Ba1
9,013,366
2,100
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
CommonSpirit
Health,
Series
2022A,
5.250%,
11/01/52,
(UB)
(6)
11/32
at
100.00
Baa1
2,189,250
1,000
Copper
Ridge
Metropolitan
District,
Colorado
Springs,
Colorado,
Tax
Increment
and
Sales
Tax
Supported
Revenue
Bonds,
Series
2019,
5.000%,
12/01/39
12/24
at
103.00
N/R
933,210
2,000
Crossroads
Metropolitan
District
1,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/51
12/29
at
103.00
N/R
1,930,860
14,000
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
5.750%,
12/01/49
3/25
at
93.28
N/R
10,276,280
5,500
Hess
Ranch
Metropolitan
District
6,
Parker,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.000%,
12/01/49
3/25
at
103.00
N/R
4,881,525
1,075
Indy
Oak
Tod
Metropolitan
District,
Lakewood,
Jefferson
County,
Colorado,
Limited
Tax General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2020A,
5.500%,
12/01/50,
144A
6/25
at
103.00
N/R
1,017,735
500
Iron
Mountain
Metropolitan
District
2,
Windsor,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R
445,325
500
Johnstown
North
Metropolitan
District
2,
Johnstown,
Colorado,
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2022A,
7.000%,
8/15/52
12/27
at
103.00
N/R
508,945
1,000
Lanterns
Metropolitan
District
2,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A-3,
4.500%,
12/01/50
9/26
at
103.00
N/R
728,970
2,000
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022,
7.375%,
11/01/52,
144A
11/29
at
103.00
N/R
2,000,980
500
Mountain
Shadows
Metropolitan
District,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
Series
2016,
4.000%,
12/01/26
12/25
at
100.00
N/R
487,345
1,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3,
5.250%,
12/01/50
12/25
at
103.00
N/R
914,740
515
North
Vista
Highlands
Metropolitan
District
3,
Pueblo
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
5.125%,
12/01/49
3/25
at
103.00
N/R
474,830
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019:
5,000
5.000%,
12/01/39
12/24
at
103.00
N/R
4,768,700
5,000
5.000%,
12/01/49
12/24
at
103.00
N/R
4,512,750
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,000
Palisade
Metropolitan
District
2,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Subordinate
Series
2019,
7.250%,
12/15/49
12/24
at
103.00
N/R
$
921,420
705
Penrith
Park
Metropolitan
District,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R
643,609
4,445
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
N/R
4,198,969
5,000
Sagebrush
Farm
Metropolitan
District
1,
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2022A,
6.750%,
12/01/52
12/29
at
103.00
N/R
4,959,600
1,200
Sky
Ranch
Community
Authority
Board,
Arapahoe
County,
Colorado,
Limited
Tax
Supported
District
1
Revenue
Bonds,
Senior
Series
2019A,
5.000%,
12/01/49
12/24
at
102.00
N/R
1,167,372
806
Sky
Ranch
Community
Authority
Board,
Arapahoe
County,
Colorado,
Limited
Tax
Supported
District
1
Revenue
Bonds,
Subordinate
Series
2019B,
7.625%,
12/15/49
12/24
at
102.00
N/R
837,724
500
STC
Metropolitan
District
2,
Superior,
Boulder
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Refunding
&
improvement
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R
451,950
1,000
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Special
District
3,
Series
2022,
6.750%,
12/01/53
12/27
at
103.00
N/R
1,030,110
760
Talon
Pointe
Metropolitan
District,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Refunding
&
Improvement
Series
2019A,
5.250%,
12/01/51
12/25
at
103.00
N/R
575,350
Thompson
Crossing
Metropolitan
District
4,
Johnstown,
Larimer
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
to
Unlimited
Tax,
Refunding
&
Improvement
Series
2019:
1,400
5.000%,
12/01/39
9/24
at
103.00
N/R
1,340,822
2,125
5.000%,
12/01/49
9/24
at
103.00
N/R
1,894,140
1,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/51
3/26
at
103.00
N/R
809,010
1,000
Ward
TOD
Metropolitan
District
1,
Wheat
Ridge,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A,
5.000%,
12/01/49
12/24
at
103.00
N/R
910,130
1,000
Willow
Bend
Metropolitan
District,
City
of
Thornton,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2019A,
5.000%,
12/01/49
9/24
at
103.00
N/R
902,380
Total
Colorado
78,065,271
District
of
Columbia
-
3.4%
(2.0%
of
Total
Investments)
87,000
District
of
Columbia
Tobacco
Settlement
Corporation,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/15/46
8/23
at
24.60
N/R
20,325,810
1,998
District
of
Columbia,
Revenue
Bonds,
Saint
Paul
on
Fouth
Street,
Inc.,
Series
2019A,
5.250%,
5/15/55,
144A
5/30
at
100.00
N/R
1,652,346
Total
District
of
Columbia
21,978,156
Florida
-
26.8%
(15.5%
of
Total
Investments)
Academical
Village
Community
Development
District,
Davie,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2020:
2,000
3.625%,
5/01/40
5/30
at
100.00
N/R
1,630,120
1,000
4.000%,
5/01/51
5/30
at
100.00
N/R
782,500
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
Franklin
Academy
Projects,
Series
2020:
$
140
5.000%,
12/15/35,
144A
7/26
at
100.00
N/R
$
134,375
100
5.000%,
12/15/50,
144A
7/26
at
100.00
N/R
85,324
100
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Imagine
School
at
Land
O'Lakes
Project,
Series
2020A,
5.000%,
12/15/49,
144A
12/30
at
100.00
Ba1
90,376
1,950
Capital
Trust
Agency,
Florida,
Educational
Facilities
Revenue
Bonds,
Pineapple
Cove
Classical
Academy,
Series
2019A,
5.125%,
7/01/39,
144A
1/29
at
100.00
N/R
1,855,133
725
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Provision
CARES
Proton
Therapy
Center,
Orlando
Project,
Series
2018,
7.500%,
6/01/48,
144A
(4)
6/28
at
100.00
N/R
94,248
Capital
Trust
Agency,
Florida,
Senior
Living
Facilities
Revenue
Bonds,
Elim
Senior
Housing,
Inc.
Project,
Series
2017:
1,490
5.625%,
8/01/37,
144A
8/24
at
103.00
N/R
1,191,985
3,735
5.875%,
8/01/52,
144A
8/24
at
103.00
N/R
2,703,132
170
Cypress
Preserve
Community
Development
District,
Pasco
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2019,
4.125%,
11/01/50
11/29
at
100.00
N/R
137,788
Epperson
North
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
1,
Series
2018A-1:
1,000
5.500%,
11/01/39,
144A
11/29
at
100.00
N/R
1,022,360
1,000
5.750%,
11/01/49,
144A
11/29
at
100.00
N/R
1,017,470
5,675
Escambia
County
Health
Facilities
Authority,
Florida,
Health
Care
Facilities
Revenue
Bonds,
Baptist
Health
Care
Corporation
Obligated,
Series
2020A,
4.000%,
8/15/45
2/30
at
100.00
BBB
5,067,264
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Miami
Arts
Charter
School
Projects,
Series
2014:
165
5.000%,
6/15/24,
144A
No
Opt.
Call
N/R
162,424
2,500
5.875%,
6/15/34,
144A
6/24
at
100.00
N/R
2,198,000
5,795
6.000%,
6/15/44,
144A
6/24
at
100.00
N/R
4,743,208
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Pepin
Academies
of
Pasco
County
Inc.,
Series
2020A:
2,435
5.000%,
1/01/40,
144A
1/27
at
100.00
N/R
2,168,806
500
5.000%,
1/01/50,
144A
1/27
at
100.00
N/R
419,085
1,575
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Southwest
Charter
Foundation
Inc
Projects,
Series
2017A,
6.000%,
6/15/37,
144A
6/27
at
100.00
N/R
1,500,818
37,325
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Brightline
Passenger
Rail
Project,
Green
Series
2019B,
7.375%,
1/01/49,
(AMT),
144A
1/24
at
107.00
N/R
37,119,712
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
8,535
6.250%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/24),
144A
8/23
at
101.00
N/R
8,512,724
4,200
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
8/23
at
102.00
N/R
4,066,734
42,090
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
8/23
at
102.00
N/R
40,617,271
7,500
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023A,
7.500%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
8/23
at
101.00
N/R
7,381,500
13,000
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Passenger
Rail
Expansion
Project,
Series
2022A,
7.250%,
7/01/57,
(AMT),
(Mandatory
Put
10/03/23),
144A
8/23
at
104.00
N/R
13,266,760
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
3,000
Florida
Development
Finance
Corporation,
Senior
Living
Revenue
Bonds,
Glenridge
on
Palmer
Ranch
Project,
Refunding
Series
2021,
5.000%,
6/01/51,
144A
6/28
at
103.00
N/R
$
2,467,170
965
Lee
County
Industrial
Development
Authority,
Florida,
Charter
School
Revenue
Bonds,
Lee
County
Community
Charter
Schools,
Series
2007A,
5.250%,
6/15/27
8/23
at
100.00
BB
946,626
Lee
County
Industrial
Development
Authority,
Florida,
Healthcare
Facilities
Revenue
Bonds,
Preserve
Project,
Series
2017A:
1,000
5.375%,
12/01/32,
144A
8/23
at
105.00
N/R
869,420
1,100
5.625%,
12/01/37,
144A
8/23
at
105.00
N/R
915,530
1,300
5.750%,
12/01/52,
144A
8/23
at
105.00
N/R
964,145
690
LT
Ranch
Community
Development
District,
Sarasota
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2019,
4.000%,
5/01/40
5/30
at
100.00
N/R
600,203
2,425
Mandarin
Grove
Community
Development
District,
Manatee
County,
Florida,
Special
Assessment
Revenue
Bonds,
2022
Project
Series
2022,
6.625%,
5/01/53,
144A
5/42
at
100.00
N/R
2,550,736
Miami
Health
Facilities
Authority,
Florida,
Health
Facilities
Revenue
Bonds,
Miami
Jewish
Health
System
Inc.
Project,
Series
2017:
1,260
5.000%,
7/01/26
No
Opt.
Call
BB+
1,212,448
1,000
5.000%,
7/01/27
No
Opt.
Call
BB+
949,750
1,410
Miami
World
Center
Community
Development
District,
Miami-Dade
County,
Florida,
Special
Assessment
Bonds,
Series
2017,
5.125%,
11/01/39
11/27
at
100.00
N/R
1,416,134
2,410
Middleton
Community
Development
District
A,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2022,
6.200%,
5/01/53,
144A
11/30
at
100.00
N/R
2,506,231
2,070
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds, Assessment
Area
4
Series
2021,
3.250%,
5/01/32
No
Opt.
Call
N/R
1,848,365
4,935
North
Springs
Improvement
District,
Browaard
County,
Florida,
Special
Assessment
Bonds,
Area
C,
Series
2017,
5.000%,
5/01/38
5/28
at
100.00
N/R
4,944,870
500
Osceola
County,
Florida,
Transportation
Revenue
Bonds,
Osceola
Parkway,
Refunding
&
Improvement
Capital
Appreciation
Series
2019A-2,
0.000%,
10/01/54
10/29
at
40.38
BBB-
98,815
100
Parker
Road
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Refudning
Series
2020,
3.875%,
5/01/40
5/30
at
100.00
N/R
84,402
125
Portico
Community
Development
District,
Lee
County,
Florida,
Special Assessment,
Refunding
Improvement
Series
2020-1,
3.500%,
5/01/37
5/30
at
100.00
N/R
104,277
2,325
Saint
Johns
County
Industrial
Development
Authority,
Florida,
First
Mortgage
Revenue
Bonds,
Presbyterian
Retirement
Communities
Obligated
Group
Project,
Series
2020A,
4.000%,
8/01/55
8/25
at
103.00
A-
1,904,570
Seminole
County
Industrial
Development
Authority,
Florida,
Retirement
Facility
Revenue
Bonds,
Legacy
Pointe
At
UCF
Project,
Series
2019A:
3,970
5.500%,
11/15/49
11/26
at
103.00
N/R
3,074,805
2,440
5.750%,
11/15/54
11/26
at
103.00
N/R
1,927,209
2,310
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-1,
4.750%,
5/01/50
5/29
at
100.00
N/R
2,079,785
70
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2019A-2,
4.750%,
5/01/29
No
Opt.
Call
N/R
70,219
1,620
Twin
Creeks
North
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Master
Infrastructure
Improvements,
Series
2016A-1,
6.375%,
11/01/47
11/31
at
100.00
N/R
1,680,183
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
410
West
Villages
Improvement
District,
Florida,
Special
Assessment
Revenue
Bonds,
Unit
of
Development
1,
Series
2017,
4.000%,
5/01/27
No
Opt.
Call
N/R
$
405,482
900
Westside
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
Refunding
Series
2019,
4.125%,
5/01/38,
144A
5/29
at
100.00
N/R
813,753
Total
Florida
172,404,245
Georgia
-
2.1%
(1.2%
of
Total
Investments)
Atlanta
Development
Authority,
Georgia,
Senior
Health
Care
Facilities
Revenue
Bonds,
Georgia
Proton
Treatment
Center
Project,
Current
Interest
Series
2017A-1:
1,250
6.500%,
1/01/29
(4)
1/28
at
100.00
N/R
562,500
7,030
6.750%,
1/01/35
(4)
1/28
at
100.00
N/R
3,163,500
18,430
7.000%,
1/01/40
(4)
1/28
at
100.00
N/R
8,293,500
441
Georgia
Local
Governments,
Certificates
of
Participation,
Georgia
Municipal
Association,
Series
1998A,
4.750%,
6/01/28
-
NPFG
Insured
No
Opt.
Call
Baa2
453,520
850
White
County
Development
Authority,
Georgia,
Revenue
Bonds
Truett
McConnell
University,
Series
2019,
5.125%,
10/01/39
10/26
at
103.00
N/R
763,079
Total
Georgia
13,236,099
Guam
-
0.3%
(0.2%
of
Total
Investments)
2,105
Guam
Government,
General
Obligation
Bonds,
Series
2019,
5.000%,
11/15/31,
(AMT)
5/29
at
100.00
BB-
2,173,644
Total
Guam
2,173,644
Hawaii
-
0.2%
(0.1%
of
Total
Investments)
1,150
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Chaminade
University
of
Honolulu,
Series
2015A,
5.000%,
1/01/45,
144A
1/25
at
100.00
Ba3
983,917
Total
Hawaii
983,917
Illinois
-
15.4%
(8.9%
of
Total
Investments)
2,800
Chicago,
Illinois,
General
Obligation
Bonds,
Refunding
Series
2016C,
5.000%,
1/01/38,
(UB)
(6)
1/26
at
100.00
BBB
2,827,244
5,000
Chicago,
Illinois,
General
Obligation
Bonds,
Series
2019A,
5.500%,
1/01/49,
(UB)
(6)
1/29
at
100.00
BBB
5,228,450
3,965
Chicago,
Illinois,
General
Obligation
Bonds,
VAribale
Rate
Demand
Series
2007F,
0.000%,
1/01/42,
(UB)
(6)
1/25
at
100.00
Baa3
4,017,774
10,000
Illinois
Finance
Authority
Revenue
Bonds,
OSF
Healthcare
System,
Refunding
Series
2018A,
4.125%,
5/15/47,
(UB)
(6)
11/28
at
100.00
A
9,407,000
10,850
Illinois
Finance
Authority,
Revenue
Bonds,
Admiral
at
the
Lake
Project,
Refunding
Series
2017,
5.250%,
5/15/54
5/24
at
103.00
N/R
8,053,521
5,000
Illinois
Finance
Authority,
Student
Housing
Revenue
Bonds,
CHF-
Collegiate
Housing
Foundation
-
Cook
LLC
Northeastern
Illinois
University
Project,
Series
2015A,
5.000%,
7/01/47
7/25
at
100.00
B-
4,116,700
9,945
Illinois
State,
General
Obligation
Bonds,
June
Series
2022A,
5.500%,
3/01/47,
(UB)
(6)
3/32
at
100.00
BBB+
10,836,967
4,840
Illinois
State,
General
Obligation
Bonds,
May
Series
2018A,
5.000%,
5/01/32
5/28
at
100.00
Baa1
5,175,122
890
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.500%,
5/01/39
5/30
at
100.00
BBB+
973,260
14,600
Illinois
State,
General
Obligation
Bonds,
November
Series
2017D,
5.000%,
11/01/28
11/27
at
100.00
BBB+
15,544,474
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
7,935
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2020A,
5.000%,
6/15/50
12/29
at
100.00
BBB
$
8,053,708
10,000
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2012B,
0.000%,
12/15/50
-
AGM
Insured
No
Opt.
Call
A1
2,816,000
4,565
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017A,
5.000%,
6/15/57
12/27
at
100.00
BBB
4,609,189
29,815
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Series
2017B,
0.000%,
12/15/56
-
AGM
Insured
No
Opt.
Call
BBB
6,264,132
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
Revenue
Bonds,
McCormick
Place
Expansion
Project,
Capital
Appreciation
Refunding
Series
2010B-1:
12,500
0.000%,
6/15/44
-
AGM
Insured
No
Opt.
Call
BBB
4,898,250
4,545
0.000%,
6/15/45
-
AGM
Insured
No
Opt.
Call
BBB
1,691,149
500
Morton
Grove,
Illinois,
Tax
Increment
Revenue
Bonds,
Sawmill
Station
Redevelopment
Project,
Senior
Lien
Series
2019,
5.000%,
1/01/39
1/26
at
100.00
N/R
460,055
Northern
Illinois
University,
Auxiliary
Facilities
System
Revenue
Bonds,
Series
2021:
425
4.000%,
10/01/39
-
BAM
Insured
4/31
at
100.00
Ba1
410,881
800
4.000%,
10/01/40
-
BAM
Insured
4/31
at
100.00
Ba1
766,888
700
4.000%,
10/01/41
-
BAM
Insured
4/31
at
100.00
Ba1
659,407
Sales
Tax
Securitization
Corporation,
Illinois,
Sales
Tax
Securitzation
Bonds,
Second
Lien
Series
2020A:
150
4.000%,
1/01/38
1/30
at
100.00
AA-
150,120
120
4.000%,
1/01/39
1/30
at
100.00
AA-
119,360
1,000
Yorkville
United
City
Business
District,
Illinois,
Storm
Water
and
Water
Improvement
Project
Revenue
Bonds,
Series
2007,
4.800%,
1/01/26
(4)
8/23
at
100.00
N/R
430,000
844
Yorkville
United
City,
Kendall
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Kendall
Marketplace
Project,
Series
2007,
6.000%,
1/01/26
8/23
at
100.00
N/R
844,465
770
Yorkville,
Illinois,
Special
Tax
Bonds,
Special
Service
Area
2006-113
Cannoball
&
Beecher,
Series
2007,
5.750%,
3/01/28
8/23
at
100.00
N/R
770,092
Total
Illinois
99,124,208
Indiana
-
1.0%
(0.5%
of
Total
Investments)
140
Anderson,
Indiana,
Multifamily
Housing
Revenue
Bonds,
Sweet
Galilee
at
the
Wigwam
Project,
Series
2020A,
5.375%,
1/01/40,
144A
1/27
at
102.00
N/R
111,496
3,105
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Earlham
College,
Refunding
Series
2013A,
5.000%,
10/01/32
10/23
at
100.00
N/R
3,107,857
500
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
6.750%,
5/01/39,
(AMT)
11/30
at
100.00
B1
565,895
2,325
Valparaiso,
Indiana,
Exempt
Faciltiies
Revenue
Bonds,
Pratt
Paper
LLC
Project,
Series
2013,
7.000%,
1/01/44,
(AMT)
1/24
at
100.00
N/R
2,354,411
Total
Indiana
6,139,659
Iowa
-
1.2%
(0.7%
of
Total
Investments)
6,540
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012,
4.750%,
8/01/42
8/23
at
100.00
BB+
6,343,408
1,100
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50
12/29
at
103.00
BBB-
1,113,013
Total
Iowa
7,456,421
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Kansas
-
1.1%
(0.7%
of
Total
Investments)
$
1,365
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Vacation
Village
Project
Area
1
and
2A,
Series
2015,
5.750%,
9/01/32
9/25
at
100.00
N/R
$
1,138,628
6,475
Wyandotte
County-Kansas
City
Unified
Government,
Kansas,
Sales
Tax
Special
Obligation
Bonds,
Village
East
Project
Areas
2B
3
and
5,
Series
2022,
5.750%,
3/01/41,
144A
3/29
at
103.00
N/R
6,158,632
Total
Kansas
7,297,260
Louisiana
-
1.3%
(0.8%
of
Total
Investments)
3,000
Louisiana
Local
Government
Environmental
Facilities
and
Community
Development
Authority,
Louisiana,
Revenue
Bonds,
Entergy
Louisiana,
LLC
Project,
Refunding
Series
2021B,
2.500%,
4/01/36
4/26
at
100.00
A
2,452,860
260
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lake
Charles
College
Prep
Project,
Series
2019A,
5.000%,
6/01/58,
144A
6/27
at
100.00
N/R
215,654
2,365
Louisiana
Public
Facilities
Authority,
Hospital
Revenue
Bonds,
Franciscan
Missionaries
of
Our
Lady
Health
System,
Series
2017A,
5.000%,
7/01/47
7/27
at
100.00
A
2,398,890
Louisiana
Public
Facilities
Authority,
Louisiana,
Revenue
Bonds,
Tulane
University,
Refunding
Series
2020A:
235
4.000%,
4/01/50,
(Pre-refunded
4/01/30)
4/30
at
100.00
N/R (7)
251,960
15
4.000%,
4/01/50
4/30
at
100.00
A+
14,349
200
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2008,
6.100%,
6/01/38,
(Mandatory
Put
6/01/30),
144A
No
Opt.
Call
BB-
215,456
1,235
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010,
6.350%,
7/01/40,
144A
6/30
at
100.00
BB-
1,333,318
800
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010A,
6.350%,
10/01/40,
144A
6/30
at
100.00
BB-
863,688
695
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010B,
6.100%,
12/01/40,
(Mandatory
Put
6/01/30),
144A
No
Opt.
Call
BB-
748,710
Total
Louisiana
8,494,885
Maryland
-
0.5%
(0.3%
of
Total
Investments)
Baltimore,
Maryland,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Series
2017:
1,480
5.000%,
9/01/24
No
Opt.
Call
CCC+
1,470,572
1,000
5.000%,
9/01/39
9/27
at
100.00
B
955,610
680
5.000%,
9/01/46
9/27
at
100.00
B
623,390
Total
Maryland
3,049,572
Massachusetts
-
1.1%
(0.7%
of
Total
Investments)
1,620
Lowell,
Massachusetts,
Collegiate
Charter
School
Revenue
Bonds,
Series
2019,
5.000%,
6/15/54
6/26
at
100.00
N/R
1,500,201
3,900
Massachusetts
Development
Finance
Agency
Revenue
Bonds,
Lawrence
General
Hospital
Issue,
Series
2017,
5.000%,
7/01/47
7/27
at
100.00
B-
3,148,002
2,705
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Boston
Medical
Center
Issue,
Green
Bonds,
Series
2015D,
5.000%,
7/01/44
7/25
at
100.00
BBB
2,729,426
Total
Massachusetts
7,377,629
Michigan
-
0.5%
(0.3%
of
Total
Investments)
40
Advanced
Technology
Academy,
Michigan,
Public
School
Academy
Revenue
Bonds,
Refunding
Series
2019,
5.000%,
11/01/44
11/27
at
102.00
BB+
35,757
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Michigan
(continued)
$
74,130
Michigan
Tobacco
Settlement
Finance
Authority,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Capital
Appreciation
Turbo
Term
Series
2008C,
0.000%,
6/01/58
6/33
at
11.41
N/R
$
3,103,823
Total
Michigan
3,139,580
Minnesota
-
1.0%
(0.6%
of
Total
Investments)
500
Bethel,
Minnesota
Charter
School
Lease
Revenue
Bonds,
Partnership
Academy
Project,
Series
2018A,
5.000%,
7/01/53
7/26
at
102.00
N/R
410,625
1,300
Brooklyn
Park,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Leadership
Academy
Project,
Series
2015A,
5.750%,
7/01/46
7/25
at
100.00
N/R
1,119,703
2,440
Columbia
Heights,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Prodeo
Academy
Project,
Series
2019A,
5.000%,
7/01/54
7/27
at
102.00
N/R
2,047,868
130
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Friendship
Academy
of
the
Arts
Project,
Series
2019A,
5.250%,
12/01/52,
144A
12/27
at
100.00
N/R
110,309
30
Minneapolis,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Northeast
College
Prep
Project,
Series
2020A,
5.000%,
7/01/40
7/30
at
100.00
N/R
26,633
2,040
Saint
Cloud,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Athlos
Academy,
Series
2022A,
5.875%,
6/01/57,
144A
6/30
at
102.00
N/R
1,879,146
1,000
Scanlon,
Minnesota,
Health
Care
Facilities
Revenue
Bonds,
Duluth
Health
Services
Project,
Refunding
Series
2020,
3.950%,
3/01/50
3/25
at
101.00
N/R
681,200
Total
Minnesota
6,275,484
Mississippi
-
0.4%
(0.2%
of
Total
Investments)
2,285
Mississippi
Hospital
Equipment
and
Facilities
Authority,
Revenue
Bonds,
Baptist
Memorial
Healthcare,
Series
2016A,
5.000%,
9/01/46
9/26
at
100.00
BBB+
2,292,038
Total
Mississippi
2,292,038
Missouri
-
0.8%
(0.4%
of
Total
Investments)
315
Boone
County,
Missouri,
Hospital
Revenue
Bonds,
Boone
Hospital
Center,
Refunding
Series
2016,
4.000%,
8/01/38
8/26
at
100.00
Ba3
237,390
Kirkwood
Industrial
Development
Authority,
Missouri,
Retirement
Community
Revenue
Bonds,
Aberdeen
Heights
Project,
Refunding
Series
2017A:
2,900
5.250%,
5/15/42
5/27
at
100.00
BB-
2,340,068
1,750
5.250%,
5/15/50
5/27
at
100.00
BB-
1,325,398
1,500
Land
Clearance
for
Redevelopment
Authority
of
Kansas
City,
Missouri,
Project
Revenue
Bonds,
Convention
Center
Hotel
Project
-
TIF
Financing,
Series
2018B,
5.000%,
2/01/50,
144A
2/28
at
100.00
N/R
1,099,470
Total
Missouri
5,002,326
Nevada
-
2.8%
(1.6%
of
Total
Investments)
9,385
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2018,
6.950%,
2/15/38,
(AMT),
144A
8/28
at
100.00
N/R
8,599,194
2,000
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020,
6.750%,
2/15/38,
144A
2/31
at
100.00
N/R
1,779,480
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Series
2017:
1,652
5.875%,
12/15/27,
(AMT),
144A
No
Opt.
Call
N/R
1,688,700
340
6.250%,
12/15/37,
(AMT),
144A
12/27
at
100.00
N/R
310,767
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Nevada
(continued)
$
2,750
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
Holdings
LLC,
Green
Series
2019,
5.750%,
2/15/38,
(AMT),
144A
8/29
at
100.00
N/R
$
2,233,907
25,000
Reno,
Nevada,
Subordinate
Lien
Sales
Tax
Revenue
Refunding
Capital
Appreciation
Bonds,
ReTrac-Reno
Transporation
Rail
Access
Corridor
Project,
Series
2018C,
0.000%,
7/01/58,
144A
7/38
at
31.26
N/R
3,265,000
Total
Nevada
17,877,048
New
Hampshire
-
1.2%
(0.7%
of
Total
Investments)
4,985
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018B,
4.625%,
11/01/42,
144A
8/23
at
100.00
B3
4,321,098
3,970
National
Finance
Authority,
New
Hampshire,
Resource
Recovery
Revenue
Bonds,
Covanta
Project,
Refunding
Series
2018C,
4.875%,
11/01/42,
(AMT),
144A
8/23
at
100.00
B3
3,555,611
Total
New
Hampshire
7,876,709
New
Jersey
-
3.9%
(2.2%
of
Total
Investments)
4,000
New
Jersey
Economic
Development
Authority
Revenue
Bonds,
Black
Horse
EHT
Urban
Renewal
LLC
Project,
Series
2019A,
5.000%,
10/01/39,
144A
10/27
at
102.00
N/R
2,901,440
1,500
New
Jersey
Economic
Development
Authority,
Fixed
Rate
Revenue
Bonds,
Lions
Gate
Project,
Series
2014,
5.000%,
1/01/34
1/24
at
100.00
N/R
1,476,030
5,475
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
White
Horse
HMT
Urban
Renewal
LLC
Project,
Series
2020,
5.000%,
1/01/40,
144A
1/28
at
102.00
N/R
3,940,522
7,500
New
Jersey
Economic
Development
Authority,
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.,
Refunding
Series
2012,
5.750%,
9/15/27,
(AMT)
8/23
at
100.00
BB-
7,519,125
15,000
New
Jersey
Transportation
Trust
Fund
Authority,
Transportation
System
Bonds,
Series
2009A,
0.000%,
12/15/39
No
Opt.
Call
A-
7,372,500
South
Jersey
Port
Corporation,
New
Jersey,
Marine
Terminal
Revenue
Bonds,
Subordinate
Series
2017B:
1,260
5.000%,
1/01/37,
(AMT)
1/28
at
100.00
A3
1,288,211
500
5.000%,
1/01/42,
(AMT)
1/28
at
100.00
A3
506,510
Total
New
Jersey
25,004,338
New
Mexico
-
1.2%
(0.7%
of
Total
Investments)
9,500
New
Mexico
Hospital
Equipment
Loan
Council,
Hospital
Revenue
Bonds,
Presbyterian
Healthcare
Services,
Series
2019A,
3.000%,
8/01/48
8/29
at
100.00
Aa3
7,259,235
825
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020,
8.000%,
5/01/40,
144A
11/23
at
103.00
N/R
743,408
Total
New
Mexico
8,002,643
New
York
-
11.5%
(6.7%
of
Total
Investments)
250
Babylon
Local
Development
Corporation
II,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2023A,
5.750%,
2/01/33
No
Opt.
Call
N/R
250,182
950
Build
New
York
City
Resource
Corporation,
New
York,
Revenue
Bonds,
Metropolitan
College
of
New
York,
Series
2014,
5.250%,
11/01/34
11/24
at
100.00
BB-
856,881
2,910
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1,
5.500%,
6/01/55,
144A
12/30
at
100.00
N/R
2,285,980
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
1,590
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1,
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R
$
1,150,556
450
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Montefiore
Obligated
Group,
Series
2018A,
4.000%,
8/01/38
8/28
at
100.00
BBB-
405,769
36,150
Erie
County
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2006A,
0.000%,
6/01/60,
144A
8/23
at
6.34
N/R
2,173,699
650
Hempstead
Town
Local
Development
Corporation,
New
York,
Education
Revenue
Bonds,
The
Academy
Charter
School
Project,
Series
2020A,
5.730%,
2/01/50
2/30
at
100.00
N/R
580,392
1,570
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Green
Climate
Bond
Certified
Series
2020C-1,
5.250%,
11/15/55
5/30
at
100.00
BBB+
1,649,332
5,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2014A-1,
5.250%,
11/15/39
11/23
at
100.00
BBB+
5,005,000
380
Monroe
County
Industrial
Development
Corporation,
New
York,
Revenue
Bonds,
Academy
of
Health
Sciences
Charter
School
Project,
Social
Impact
Series
2022,
5.875%,
7/01/52,
144A
7/32
at
100.00
N/R
367,175
7,250
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
7,128,200
New
York
Liberty
Development
Corporation,
New
York,
Liberty
Revenue
Bonds,
3
World
Trade
Center
Project,
Class
2
Series
2014:
3,235
5.150%,
11/15/34,
144A
11/24
at
100.00
N/R
3,241,502
6,960
5.375%,
11/15/40,
144A
11/24
at
100.00
N/R
6,971,763
1,740
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.250%,
1/01/50,
(AMT)
7/24
at
100.00
Baa2
1,740,766
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Refunding
Series
2016:
5,140
5.000%,
8/01/26,
(AMT)
8/23
at
100.00
B+
5,150,229
8,000
5.000%,
8/01/31,
(AMT)
8/23
at
100.00
B+
8,008,640
875
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+
886,952
10,000
Suffolk
Tobacco
Asset
Securitization
Corporation,
New
York,
Tobacco
Settlement
Asset-Backed
Bonds,
Series
2021B-2,
0.000%,
6/01/66
6/31
at
27.72
N/R
1,123,400
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Refunding
Series
2016A:
2,950
5.000%,
1/01/32,
(AMT)
1/26
at
100.00
C
2,284,598
4,000
5.000%,
1/01/33,
(AMT)
1/26
at
100.00
C
3,080,160
3,320
5.000%,
1/01/35,
(AMT)
1/26
at
100.00
C
2,485,086
2,775
5.000%,
1/01/36,
(AMT)
1/26
at
100.00
C
2,076,505
16,200
TSASC
Inc.,
New
York,
Tobacco
Asset-Backed
Bonds,
Series
2006,
5.000%,
6/01/48
6/27
at
100.00
N/R
15,170,976
Total
New
York
74,073,743
North
Dakota
-
0.2%
(0.1%
of
Total
Investments)
1,500
Ward
County
Health
Care,
North
Dakota,
Revenue
Bonds,
Trinity
Obligated
Group,
Series
2017C,
5.000%,
6/01/48
6/28
at
100.00
BB+
1,216,890
Total
North
Dakota
1,216,890
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Ohio
-
8.7%
(5.0%
of
Total
Investments)
$
69,235
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Capital
Appreciation
Series
2020B-3
Class
2,
0.000%,
6/01/57
6/30
at
22.36
N/R
$
8,860,695
195
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
3.000%,
6/01/48
6/30
at
100.00
BBB+
149,618
14,185
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2,
5.000%,
6/01/55
6/30
at
100.00
N/R
13,203,965
7,610
Cleveland,
Ohio,
Airport
Special
Revenue
Bonds,
Continental
Airlines
Inc.
Project,
Series
1998,
5.375%,
9/15/27,
(AMT)
8/23
at
100.00
BB-
7,633,667
Evans
Farm
New
Communty
Authority,
Ohio,
Community
Development
Charge
Revenue
Bonds,
Evans
Farm
Mixed-Use
Project,
Series
2020:
2,170
3.750%,
12/01/38
6/29
at
100.00
N/R
1,775,299
140
4.000%,
12/01/46
6/29
at
100.00
N/R
110,930
905
Hilliard
Hickory
Chase
Community
Authority,
Ohio,
Infustructure
Improvement
Revenue
Bonds,
Hickory
Chase
Project,
Senior
Series
2019A,
5.000%,
12/01/40,
144A
12/29
at
100.00
N/R
815,984
3,000
Muskingum
County,
Ohio,
Hospital
Facilities
Revenue
Bonds,
Genesis
HealthCare
System
Obligated
Group
Project,
Series
2013,
5.000%,
2/15/48
8/23
at
100.00
Ba2
2,773,530
5,020
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/23
(4)
No
Opt.
Call
N/R
50
1,950
Ohio
Air
Quality
Development
Authority,
Ohio,
Exempt
Facilities
Revenue
Bonds,
AMG
Vanadium
Project,
Series
2019,
5.000%,
7/01/49,
(AMT),
144A
7/29
at
100.00
B-
1,790,900
2,085
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
9/01/23
(4)
No
Opt.
Call
N/R
21
4,140
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.750%,
12/01/23
(4)
No
Opt.
Call
N/R
41
16,350
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2009A,
4.750%,
6/01/33,
(Mandatory
Put
6/01/22)
No
Opt.
Call
BBB-
15,765,651
2,470
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generating
Corporation
Project,
Refunding
Series
2006A,
3.000%,
5/15/49
(4)
No
Opt.
Call
N/R
25
2,000
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Refunding
Series
2010C,
4.000%,
6/01/33
(4)
No
Opt.
Call
N/R
20
2,510
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33
(4)
No
Opt.
Call
N/R
25
1,000
Port
of
Greater
Cincinnati
Development
Authority,
Ohio,
Special
Obligation
Tax
Increment
Financing
Revenue
Bonds,
Cooperative
Township
Public
Parking
Project,
Gallery
at
Kenwood,
Senior
Lien
Series
2019A,
5.000%,
11/01/51
11/30
at
100.00
N/R
821,410
2,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020A,
7.000%,
12/01/42,
(AMT),
144A
12/27
at
103.00
N/R
1,496,020
1,000
Southern
Ohio
Port
Authority,
Ohio,
Facility
Revenue
Bonds,
Purecycle
Project,
Series
2020B,
10.000%,
12/01/27,
(AMT),
144A
12/26
at
105.00
N/R
918,270
Total
Ohio
56,116,121
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Oklahoma
-
1.4%
(0.8%
of
Total
Investments)
$
975
Oklahoma
Development
Finance
Authority,
Health
System
Revenue
Bonds,
OU
Medicine
Project,
Series
2018B,
5.000%,
8/15/38
8/28
at
100.00
BB-
$
946,374
1,000
Tulsa
County
Industrial
Authority,
Oklahoma,
Senior
Living
Community
Revenue
Bonds,
Montereau,
Inc
Project,
Refunding
Series
2017,
5.250%,
11/15/45
11/25
at
102.00
BBB-
976,800
2,475
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2000B,
5.500%,
6/01/35,
(AMT)
8/23
at
100.00
N/R
2,479,703
860
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2001B,
5.500%,
12/01/35,
(AMT)
8/23
at
100.00
N/R
861,634
3,475
Tulsa
Municipal
Airport
Trust,
Oklahoma,
Revenue
Bonds,
American
Airlines
Inc.,
Refunding
Series
2015,
5.000%,
6/01/35,
(AMT),
(Mandatory
Put
6/01/25)
6/25
at
100.00
B-
3,495,259
Total
Oklahoma
8,759,770
Oregon
-
0.1%
(0.1%
of
Total
Investments)
100
Oregon
Facilities
Authority,
Revenue
Bonds,
Metro
East
Web
Academy
Project,
Series
2019A,
5.000%,
6/15/49,
144A
6/27
at
102.00
N/R
87,529
1,000
Yamhill
County
Hospital
Authority,
Oregon,
Revenue
Bonds,
Friendsview
Retirement
Community,
Refunding
Series
2021A,
5.000%,
11/15/56
11/28
at
103.00
N/R
742,090
Total
Oregon
829,619
Pennsylvania
-
5.6%
(3.2%
of
Total
Investments)
1,125
Allegheny
Country
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2012,
5.750%,
8/01/42,
(AMT)
8/23
at
100.00
B1
1,130,299
6,995
Allegheny
County
Industrial
Development
Authority,
Pennsylvania,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corp.,
Refunding
Series
2019,
5.125%,
5/01/30
No
Opt.
Call
B1
7,201,353
335
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021,
6.000%,
5/01/42,
144A
5/31
at
100.00
N/R
344,564
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A:
3,300
4.375%,
1/01/35,
(Mandatory
Put
7/01/33)
No
Opt.
Call
BBB-
3,300,000
560
3.500%,
4/01/41
(4)
No
Opt.
Call
N/R
6
1,440
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35
(4)
No
Opt.
Call
N/R
14
1,025
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2008A,
2.700%,
4/01/35
(4)
No
Opt.
Call
N/R
10
5,355
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35
(4)
No
Opt.
Call
N/R
54
1,555
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Generation
Project,
Series
2008B,
3.750%,
10/01/47
4/31
at
100.00
BBB-
1,144,511
2,565
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds, Alvernia
University
Project,
Series
2020,
5.000%,
10/01/49
10/29
at
100.00
BB+
2,296,598
3,100
Berks
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Reading
Hospital
&
Medical
Center
Project,
Series
2012A,
5.000%,
11/01/44
8/23
at
100.00
B
2,012,179
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
4,430
Butler
County
Hospital
Authority,
Pennsylvania,
Hospital
Revenue
Bonds,
Butler
Health
System
Project,
Series
2015A,
5.000%,
7/01/35
7/25
at
100.00
Baa3
$
4,295,062
1,000
Chester
County
Health
and
Education
Facilities
Authority,
Pennsylvania,
Revenue
Bonds,
Simpson
Senior
Services
Project,
Series
2015A,
5.000%,
12/01/30
12/25
at
100.00
N/R
941,300
1,870
Chester
County
Industrial
Development
Authority,
Pennsylvania,
Revenue
Bonds,
Collegium
Charter
School
Project,
Series
2017A,
5.125%,
10/15/37
4/27
at
100.00
BB
1,821,100
Cumberland
County
Municipal
Authority,
Pennsylvania,
Revenue
Bonds,
Asbury
Pennsylvania
Obligated
Group, Refunding
Series
2019:
2,160
5.000%,
1/01/39
1/25
at
104.00
N/R
1,934,583
1,240
5.000%,
1/01/45
1/25
at
104.00
N/R
1,062,221
3,555
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020,
6.250%,
10/15/53,
144A
10/28
at
100.00
BB
3,565,487
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1,
10.000%,
12/01/40,
144A
(4),(5)
6/30
at
100.00
N/R
1,168,671
1,720
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
10.000%,
12/01/40,
(AMT),
144A
(4),(5)
6/30
at
100.00
N/R
1,168,671
1,260
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
(4),(5)
No
Opt.
Call
N/R
785,925
1,025
Pennsylvania
Higher
Educational
Facilities
Authority,
Revenue
Bonds,
University
of
the
Sciences
in
Philadelphia,
Series
2015A,
5.000%,
11/01/27
11/25
at
100.00
N/R
1,049,036
545
Philadelphia
Authority
for
Industrial
Development,
Pennsylvania,
Revenue
Bonds,
Mariana
Bracetti
Academy
Project,
Series
2020A,
5.375%,
6/15/50,
144A
12/27
at
100.00
N/R
491,083
Total
Pennsylvania
35,712,727
Puerto
Rico
-
11.4%
(6.6%
of
Total
Investments)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Refunding
Series
2012A:
2,070
5.000%,
7/01/29
(4)
8/23
at
100.00
D
776,250
3,170
3.957%,
7/01/42
(4)
8/23
at
100.00
N/R
1,188,750
1,000
5.050%,
7/01/42
(4)
8/23
at
100.00
N/R
375,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2007TT:
130
5.000%,
7/01/21
(4)
No
Opt.
Call
N/R
48,425
3,750
5.000%,
7/01/26
(4)
8/23
at
100.00
D
1,406,250
310
3.957%,
7/01/32
(4)
8/23
at
100.00
N/R
116,250
1,860
3.957%,
7/01/37
(4)
8/23
at
100.00
D
697,500
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010AAA:
1,124
3.978%,
7/01/28
(4)
8/23
at
100.00
D
421,500
468
5.250%,
7/01/29
(4)
8/23
at
100.00
D
175,500
346
5.250%,
7/01/31
(4)
8/23
at
100.00
Ca
129,750
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010CCC:
2,995
5.000%,
7/01/28
(4)
8/23
at
100.00
D
1,123,125
500
5.250%,
7/01/28
(4)
8/23
at
100.00
D
187,500
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Puerto
Rico
(continued)
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX:
$
100
5.250%,
7/01/27
(4)
8/23
at
100.00
D
$
37,500
4,000
5.250%,
7/01/35
(4)
8/23
at
100.00
N/R
1,500,000
400
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010ZZ,
5.250%,
7/01/24
(4)
8/23
at
100.00
D
150,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2013A:
5,000
7.000%,
7/01/33
(4)
8/23
at
100.00
D
1,875,000
10,000
6.750%,
7/01/36
(4)
8/23
at
100.00
N/R
3,750,000
1,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2016A-4-RSA-1,
10.000%,
7/01/19
(4)
No
Opt.
Call
N/R
372,500
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
WW:
190
5.375%,
7/01/23
(4)
No
Opt.
Call
N/R
70,775
373
5.375%,
7/01/24
(4)
6/23
at
100.00
D
138,943
25
3.978%,
7/01/33
(4)
8/23
at
100.00
Ca
9,375
6,500
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/62
7/32
at
100.00
N/R
6,402,500
5,000
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022C,
5.000%,
7/01/53
1/33
at
100.00
N/R
3,149,950
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1:
22,702
0.000%,
7/01/46
7/28
at
41.38
N/R
6,503,909
17,550
0.000%,
7/01/51
7/28
at
30.01
N/R
3,748,752
1,000
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022,
0.000%,
11/01/51
No
Opt.
Call
N/R
512,500
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
0
(8)
5.625%,
7/01/27
No
Opt.
Call
N/R
3
240
5.750%,
7/01/31
No
Opt.
Call
N/R
261,602
23,533
0.000%,
7/01/33
7/31
at
89.94
N/R
14,373,031
10,704
4.000%,
7/01/33
7/31
at
103.00
N/R
10,180,204
0
(8)
4.000%,
7/01/37
7/31
at
103.00
N/R
340
5,182
4.000%,
7/01/41
7/31
at
103.00
N/R
4,463,175
2,012
4.000%,
7/01/46
7/31
at
103.00
N/R
1,681,026
13,955
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
No
Opt.
Call
N/R
7,169,468
500
University
of
Puerto
Rico,
University
System
Revenue
Bonds,
Series
2006Q,
5.000%,
6/01/24
8/23
at
100.00
CC
497,250
Total
Puerto
Rico
73,493,603
South
Carolina
-
0.3%
(0.2%
of
Total
Investments)
430
Berkeley
County,
South
Carolina,
Special
Assessment
Revenue
Bonds,
Nexton
Improvement
District,
Series
2019,
4.375%,
11/01/49
11/29
at
100.00
N/R
356,947
400
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Hilton
Head
Christian
Academy,
Series
2020,
5.000%,
1/01/55,
144A
1/30
at
100.00
N/R
336,336
1,450
South
Carolina
Jobs-Economic
Development
Authority,
Economic
Development
Revenue
Bonds,
Palmetto
Scholars
Academy
Project,
Series
2015A,
5.125%,
8/15/35,
144A
2/25
at
100.00
BB
1,311,743
Total
South
Carolina
2,005,026
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Tennessee
-
2.0%
(1.1%
of
Total
Investments)
$
1,000
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Capital
Appreciation
Series
2016B,
0.000%,
12/01/31,
144A
No
Opt.
Call
N/R
$
625,010
5,000
Bristol
Industrial
Development
Board,
Tennessee,
State
Sales
Tax
Revenue
Bonds,
Pinnacle
Project,
Series
2016A,
5.125%,
12/01/42,
144A
12/26
at
100.00
N/R
4,524,200
1,587
Knox
County
Health,
Educational,
and
Housing
Facilities
Board,
Tennessee,
Revenue
Bonds,
Provision
Center
for
Proton
Therapy
Project,
Series
2014,
5.250%,
5/01/25,
144A
(4)
11/24
at
100.00
N/R
158
1,000
Memphis/Shelby
County
Economic
Development
Growth
Engine
Industrial
Development
Board,
Tennessee,
Tax
Increment
Revenue
Bonds,
Graceland
Project,
Senior
Series
2017A,
5.625%,
1/01/46
(4)
7/27
at
100.00
N/R
599,710
6,590
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University
Medical
Center,
Series
2016A,
5.000%,
7/01/46
7/26
at
100.00
A
6,702,228
1,500
The
Health
and
Educational
Facilities
Board
of
the
City
of
Franklin,
Tennessee,
Revenue
Bonds,
Provision
Cares
Proton
Therapy
Center,
Nashville
Project,
Series
2017A,
6.500%,
6/01/27,
144A
(4)
No
Opt.
Call
N/R
330,000
Total
Tennessee
12,781,306
Texas
-
3.8%
(2.2%
of
Total
Investments)
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
First
Tier
Series
2017A:
500
5.000%,
1/01/31
1/27
at
100.00
BB+
511,240
500
5.000%,
1/01/32
1/27
at
100.00
BB+
511,030
Austin
Convention
Enterprises
Inc.,
Texas,
Convention
Center
Hotel
Revenue
Bonds,
Refunding
Second
Tier
Series
2017B:
540
5.000%,
1/01/25
No
Opt.
Call
B
536,506
475
5.000%,
1/01/29
1/27
at
100.00
B
474,406
850
5.000%,
1/01/34
1/27
at
100.00
B
850,680
4,665
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
Continental
Airlines
Inc.
-
Terminal
Improvement
Project,
Refunding
Series
2011,
6.500%,
7/15/30,
(AMT)
8/23
at
100.00
BB-
4,679,508
650
Houston,
Texas,
Airport
System
Special
Facilities
Revenue
Bonds,
United
Airlines,
Inc.
Terminal
E
Project,
Refunding
Series
2014,
5.000%,
7/01/29,
(AMT)
7/24
at
100.00
BB-
651,840
250
Leander,
Texas,
Special
Assessment
Revenue
Bonds,
Deerbrooke
Public
Improvement
District
Southern
Improvement
Area
Project,
Series
2017,
4.750%,
9/01/37,
144A
9/26
at
100.00
N/R
241,038
200
Manor,
Texas,
Special
Assessment
Revenue
Bonds,
Lagos
Public
Improvement
District
Major
Improvement
Area
Project,
Series
2020,
4.625%,
9/15/49,
144A
9/30
at
100.00
N/R
179,320
520
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Beta
Academy,
Series
2019A,
5.000%,
8/15/49,
144A
8/24
at
100.00
N/R
468,957
70
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-1,
7.500%,
11/15/37
No
Opt.
Call
N/R
54,065
445
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021A-2,
7.500%,
11/15/36
No
Opt.
Call
N/R
365,941
4,046
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Retirement
Facility
Revenue
Bonds,
Buckingham
Senior
Living
Community,
Inc.
Project,
Series
2021B,
5.625%,
11/15/61
11/26
at
105.00
N/R
1,625,092
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
12,025
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1,
5.500%,
1/01/57
1/28
at
103.00
N/R
$
8,613,267
625
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Corpus
Christi
II,
L.L.C.-Texas
A&M
University-Corpus
Christi
Project,
Series
2016A,
5.000%,
4/01/48,
(Pre-refunded
4/01/26)
4/26
at
100.00
N/R (7)
653,763
400
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Student
Housing
Revenue
Bonds,
CHF-Collegiate
Housing
Galveston-
Texas
A&M
University
at
Galveston
Project,
Series
2014A,
5.000%,
4/01/29,
(Pre-refunded
4/01/24)
4/24
at
100.00
N/R (7)
404,156
110
North
Richland
Hills,
Texas,
Special
Assessment
Revenue
Bonds,
City
Point
Public
Improvement
District
Zone
B
Project,
Series
2019,
5.375%,
9/01/50,
144A
9/30
at
100.00
N/R
107,088
145
Royse
CIty,
Rockwall
County,
Texas,
Special
Assessment
Revenue
Bonds,
Waterscape
Public
improvement
District
Improvement
Area
2
Project,
Series
2019,
4.750%,
9/15/49,
144A
9/27
at
100.00
N/R
134,361
Tarrant
County
Cultural
Education
Facilities
Finance
Corporaton,
Texas,
Retirement
Facility
Revenue
Bonds,
C.C.
Young
Memorial
Home
Project,
Series
2016A:
1,000
0.000%,
2/15/41
(4)
2/27
at
100.00
N/R
550,000
4,575
0.000%,
2/15/48
(4)
2/27
at
100.00
N/R
2,516,250
Total
Texas
24,128,508
Utah
-
0.4%
(0.2%
of
Total
Investments)
2,000
Military
Installation
Development
Authority,
Utah,
Tax
Allocation
Revenue
Bonds,
Series
2021A-2,
4.000%,
6/01/52
9/26
at
103.00
N/R
1,482,900
1,000
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Leadership
Learning
Academy
Project,
Series
2019A,
5.000%,
6/15/50,
144A
6/27
at
102.00
N/R
879,360
Total
Utah
2,362,260
Virgin
Islands
-
3.4%
(2.0%
of
Total
Investments)
3,085
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/39
10/32
at
100.00
N/R
3,084,784
710
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2012A,
5.000%,
10/01/32
8/23
at
100.00
N/R
636,501
16,000
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Refunding
Series
2014C,
5.000%,
10/01/30,
144A
10/24
at
100.00
N/R
14,696,640
295
Virgin
Islands
Public
Finance
Authority,
Gross
Receipts
Taxes
Loan
Note,
Working
Capital
Series
2014A,
5.000%,
10/01/24,
144A
No
Opt.
Call
N/R
290,908
1,930
Virgin
Islands
Water
and
Power
Authority,
Electric
System
Revenue
Bonds,
Bond
Anticipation
Notes,
Senior
Series
2021A,
6.750%,
7/01/26,
144A
No
Opt.
Call
N/R
1,844,617
1,400
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.375%,
4/01/52,
144A
10/29
at
104.00
N/R
1,339,786
Total
Virgin
Islands
21,893,236
Virginia
-
1.1%
(0.6%
of
Total
Investments)
Roanoke
Economic
Development
Authority,
Virginia
Residential
Care
Facility
Revenue
Bonds,
Richfield
Living,
Series
2020:
5,870
5.000%,
9/01/50
(4)
9/27
at
103.00
N/R
3,522,000
4,840
5.125%,
9/01/55
(4)
9/27
at
103.00
N/R
2,904,000
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Virginia
(continued)
$
622
Virginia
Small
Business
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Provident
Resource
Group
-
Rixey
Student
Housing
Project,
Series
2019B,
6.525%,
7/01/52,
144A
,
(cash
7.500%,
PIK
7.500%)
No
Opt.
Call
N/R
$
373,141
Total
Virginia
6,799,141
Washington
-
0.3%
(0.2%
of
Total
Investments)
1,125
Port
of
Seattle
Industrial
Development
Corporation,
Washington,
Special
Facilities
Revenue
Refunding
Bonds,
Delta
Air
Lines,
Inc.
Project,
Series
2012,
5.000%,
4/01/30,
(AMT)
8/23
at
100.00
BB
1,125,416
1,000
Washington
State
Housing
Finance
Commission,
Nonprofit
Housing
Revenue
Bonds,
Rockwood
Retirement
Communities
Project,
Series
2020A,
5.000%,
1/01/51,
144A
1/26
at
103.00
N/R
724,400
Total
Washington
1,849,816
West
Virginia
-
0.7%
(0.4%
of
Total
Investments)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Refunding
&
Improvement
Series
2017A:
3,000
5.500%,
6/01/37,
144A
6/27
at
100.00
N/R
3,081,570
625
5.750%,
6/01/43,
144A
6/27
at
100.00
N/R
642,856
1,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Arch
Resources
Project,
Series
2021,
4.125%,
7/01/45,
(AMT),
(Mandatory
Put
7/01/25)
1/25
at
100.00
B2
986,500
Total
West
Virginia
4,710,926
Wisconsin
-
11.7%
(6.8%
of
Total
Investments)
14,610
Ashwaubenon
Community
Development
Authority,
Wisconsin,
Lease
Revenue
Bonds,
Brown
County
Expo
Center
Project,
Series
2019,
0.000%,
6/01/54
6/29
at
37.80
AA
3,384,407
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
21st
Century
Public
Academy
Project,
Series
2020A:
750
5.000%,
6/01/40,
144A
6/28
at
102.00
N/R
661,725
1,340
5.000%,
6/01/49,
144A
6/28
at
102.00
N/R
1,101,427
365
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Corvian
Community
School
Bonds,
North
Carolina,
Series
2019A,
5.000%,
6/15/49,
144A
6/26
at
100.00
N/R
303,979
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
Carolina
Charter
Educational
Foundation
Project,
Series
2016A:
3,000
5.000%,
6/15/36,
144A
6/26
at
100.00
N/R
2,587,590
4,240
5.000%,
6/15/46,
144A
6/26
at
100.00
N/R
3,220,365
3,315
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Uwharrie
Charter
Academy,
North
Carolina,
Series
2022A,
5.000%,
6/15/52,
144A
6/32
at
100.00
Ba2
2,886,967
500
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Corvian
Community
School,
North
Carolina
Series
2023A,
6.250%,
6/15/48,
144A
6/33
at
100.00
N/R
499,325
2,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facilities
Revenue
Bonds,
Lake
Erie
College,
Series
2019A,
5.875%,
10/01/54,
144A
10/29
at
100.00
N/R
1,600,100
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
Grant
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017A:
14,695
3.125%,
8/01/27,
144A
(4)
No
Opt.
Call
N/R
11,223,306
2,375
6.750%,
8/01/31,
144A
(4)
No
Opt.
Call
N/R
1,662,500
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017:
$
555
6.500%,
12/01/37,
144A
12/27
at
100.00
N/R
$
499,689
15,915
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R
14,516,071
215
Public
Finance
Authority
of
Wisconsin,
Retirement
Facility
Revenue
Bonds,
Shalom
Park
Development
Project,
Series
2019,
0.000%,
12/31/24,
144A
No
Opt.
Call
N/R
12,900
1,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Alabama
Proton
Therapy
Center,
Senior
Series
2017B,
8.500%,
10/01/47,
144A
(4)
10/27
at
100.00
N/R
400,000
1,765
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Prime
Healthcare
Foundation,
Inc.,
Series
2017A,
5.200%,
12/01/37
12/27
at
100.00
BBB
1,798,676
2,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Procure
Proton
Therapy
Center,
Senior
Series
2018A,
7.000%,
7/01/48,
144A
7/28
at
100.00
N/R
1,621,040
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Roseman
University
of
Health
Sciences,
Series
2020:
600
5.000%,
4/01/50,
144A
4/30
at
100.00
BB
559,038
35
5.000%,
4/01/50,
(Pre-refunded
4/01/30),
144A
4/30
at
100.00
N/R (7)
39,640
8,930
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
4.250%,
7/01/54,
(AMT)
7/31
at
100.00
N/R
6,106,781
Public
Finance
Authority
of
Wisconsin,
Senior
Revenue
Bonds,
Maryland
Proton
Treatment
Center,
Series
2018A-1:
5,885
6.125%,
1/01/33,
144A
1/28
at
100.00
N/R
3,619,275
250
6.250%,
1/01/38,
144A
1/28
at
100.00
N/R
153,750
8,735
6.375%,
1/01/48,
144A
1/28
at
100.00
N/R
5,372,025
210
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B,
15.000%,
8/31/23
(4),(5)
4/23
at
105.00
N/R
32,025
Wisconsin
Center
District,
Dedicated
Tax
Revenue
Bonds,
Supported
by
State
Moral
Obligation
Junior
Series
2020D:
6,225
0.000%,
12/15/45
-
AGM
Insured
12/30
at
56.77
A1
2,210,684
4,500
0.000%,
12/15/60
-
AGM
Insured
12/30
at
29.95
A1
758,835
6,165
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Marshfield
Clinic,
Series
2016A,
5.000%,
2/15/42
2/26
at
100.00
BBB+
6,092,191
3,000
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Saint
Camillus
Health
System
Inc,
Series
2019A,
5.000%,
11/01/46
11/26
at
103.00
N/R
2,424,930
Total
Wisconsin
75,349,241
Total
Municipal
Bonds
(cost
$1,130,655,391)
1,036,337,854
Shares
Description
(1)
Value
X
–
COMMON
STOCKS
-
11
.7
%
(
6
.7
%
of
Total
Investments)
X
74,989,916
Electric
Utilities
-
1.4%
(0.8%
of
Total
Investments)
46,991
Talen
Energy
Corp
(9)
$
2,447,056
121,905
Talen
Energy
Supply
LLC
(9)
6,348,203
Total
Electric
Utilities
8,795,259
Independent
Power
and
Renewable
Electricity
Producers
-
10.3%
(5.9%
of
Total
Investments)
859,113
Energy
Harbor
Corp
(9),(10)
66,194,657
Total
Independent
Power
and
Renewable
Electricity
Producers
66,194,657
Total
Common
Stocks
(cost
$28,607,979)
74,989,916
Nuveen
Municipal
Credit
Opportunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
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
(1)
Coupon
(11)
Reference
Rate
(11)
Spread
(11)
Maturity
(12)
Ratings
(3)
Value
X
–
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.1
%
(
0
.1
%
of
Total
Investments)
(11)
X
500,000
Trading
Companies
&
Distributors
-
0.1%
(0.1%
of
Total
Investments)
$
500
KDC
Agribusiness
Fairless
Hills
LLC
(5),(13)
12.000%
N/A
N/A
9/17/23
N/R
$
500,000
Total
Trading
Companies
&
Distributors
500,000
Total
Variable
Rate
Senior
Loan
Interests
(cost
$500,000)
500,000
Total
Long-Term
Investments
(cost
$1,159,763,370)
1,111,827,770
Floating
Rate
Obligations
-
(3.9)%
(
25,350,000
)
MFP
Shares,
Net
-
(69.9)%(14)
(
449,100,604
)
Other
Assets
&
Liabilities,
Net
- 0.7%
5,024,894
Net
Assets
Applicable
to
Common
Shares
-
100%
$
642,402,060
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
1,033,054,525
$
3,283,329
$
1,036,337,854
Common
Stocks
–
74,989,916
–
74,989,916
Variable
Rate
Senior
Loan
Interests
–
–
500,000
500,000
Total
$
–
$
1,108,044,441
$
3,783,329
$
1,111,827,770
(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)
The
ratings
disclosed
are
the
lowest
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)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(5)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(6)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(7)
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.
(8)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(9)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(10)
Energy
Harbor
Corp
(ENGH)
common
stock
received
as
part
of
the
bankruptcy
settlements
during
February
2020
for
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Refunding
Series
2005A,
4.000%,
1/01/35,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006A,
3.500%,
4/01/41,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2006B,
3.500%,
12/01/35,
Beaver
County
Industrial
Development
Authority,
Pennsylvania,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generation
Project,
Series
2008A,
2.700%,
4/01/35,
Ohio
Air
Quality
Development
Authority,
Ohio,
Air
Quality
Development
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Series
2009A,
5.700%,
8/01/20,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009B,
3.100%,
3/01/23,
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Project,
Refunding
Series
2006A,
3.750%,
12/01/23,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006A,
3.000%,
5/15/20,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2006B,
4.000%,
12/01/33,
Ohio
Water
Development
Authority,
Pollution
Control
Revenue
Refunding
Bonds,
FirstEnergy
Nuclear
Generating
Corporation
Project,
Series
2010C,
4.000%,
6/01/33.
Various
funds
and
accounts
managed
by
Nuveen,
including
the
Fund,
collectively
are
a
substantial
minority
holder
of
ENGH’s
outstanding
shares
of
common
stock,
and
possess
certain
other
rights
with
respect
to
the
corporate
governance
of
ENGH.
Due
to
these
facts,
under
the
federal
securities
laws,
the
securities
of
ENGH
held
by
Nuveen
funds
and
accounts,
including
the
Fund,
cannot
be
sold
except
under
limited
conditions
(which
are
not currently
satisfied).
The
Fund
is
therefore
unable
to
sell
such
shares
in
ordinary
secondary
market
transactions
at
this
time.
On
March
6,
2023
Vistra
Corp.
(“Vistra”)
announced
that
it
has
executed
a
definitive
agreement
with
Energy
Harbor
Corp.,
pursuant
to
which
Energy
Harbor
will
merge
with
and
into
a
newly-formed
subsidiary
of
Vistra. The
companies
anticipate
closing
the
transaction
in
the
second
half
of
2023. In
connection
with
the
transaction,
Nuveen
funds
and
accounts
expect
to
receive
a
combination
of
cash
and
shares
in
a
newly
formed
entity.
Nuveen
expects
these
shares
to
be
issued
in
a
private
transaction
and
may
have
reduced
secondary
market
liquidity. The
transaction
is
subject
to
certain
regulatory
approvals
and
there
can
be
no
assurance
that
the
transaction
will
close.
(11)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
These
floating
lending
rates
are
generally
(i)
the
lending
rate
referenced
by
the
London
Inter-Bank
Offered
Rate
("LIBOR"),
or
(ii)
the
prime
rate
offered
by
one
or
more
major
United
States
banks.
Senior
loans
may
be
considered
restricted
in
that
the
Fund
ordinarily
is
contractually
obligated
to
receive
approval
from
the
agent
bank
and/or
borrower
prior
to
the
disposition
of
a
senior
loan.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(12)
Senior
loans
generally
are
subject
to
mandatory
and/or
optional
prepayment.
Because
of
these
mandatory
prepayment
conditions
and
because
there
may
be
significant
economic
incentives
for
a
borrower
to
prepay,
prepayments
of
senior
loans
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(13)
Senior
loan
received
as
part
of
the
bondholder
funding
agreement
during
June
2023
for
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-1,
10.000%,
12/01/40,
144A,
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2020A-2,
10.000%,
12/01/40,
(AMT),
144A,
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31.
(14)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
40.4%.
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
N/A
Not
Applicable.
PIK
Payment-in-kind
(“PIK”)
security. Depending
on
the
terms
of
the
security,
income
may
be
received
in
the
form
of
cash,
securities,
or
a
combination
of
both. The
PIK
rate
shown,
where
applicable,
represents
the
annualized
rate
of
the
last
PIK
payment
made
by
the
issuer
as
of
the
end
of
the
reporting
period.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
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