|
|
|
|
|
|
|
|
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
Nuveen AMT-Free Municipal Value Fund (NUW)
|
|
|
|
|
|
January 31, 2013
|
|
|
|
|
|
Principal
|
|
|
Optional Call
|
|
|
Amount (000)
|
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
Alaska – 0.6%
|
|
|
|
|
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
|
|
|
|
|
|
Series 2006A:
|
|
|
|
$ 1,045
|
|
4.625%, 6/01/23
|
6/14 at 100.00
|
Ba1
|
$ 1,049,295
|
350
|
|
5.000%, 6/01/46
|
6/14 at 100.00
|
B+
|
309,341
|
1,395
|
|
Total Alaska
|
|
|
1,358,636
|
|
|
Arizona – 4.2%
|
|
|
|
1,520
|
|
Arizona School Facilities Board, Certificates of Participation, Series 2003A, 5.000%, 9/01/13 –
|
No Opt. Call
|
A+
|
1,562,545
|
|
|
NPFG Insured
|
|
|
|
4,000
|
|
Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Bonds, El
|
2/19 at 100.00
|
BBB
|
4,782,760
|
|
|
Paso Electric Company, Refunding Series 2009A, 7.250%, 2/01/40
|
|
|
|
3,045
|
|
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc
|
No Opt. Call
|
A–
|
3,499,801
|
|
|
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
|
|
|
|
8,565
|
|
Total Arizona
|
|
|
9,845,106
|
|
|
California – 9.7%
|
|
|
|
2,500
|
|
California State Public Works Board, Lease Revenue Bonds, Department of General Services
|
4/19 at 100.00
|
A2
|
3,013,550
|
|
|
Buildings 8 & 9, Series 2009A, 6.250%, 4/01/34
|
|
|
|
500
|
|
California State, General Obligation Bonds, Tender Option Bond Trust 3162, 19.745%, 3/01/18 –
|
No Opt. Call
|
AA–
|
841,220
|
|
|
AGM Insured (IF)
|
|
|
|
|
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
|
|
|
|
|
Asset-Backed Revenue Bonds, Series 2005A:
|
|
|
|
2,365
|
|
5.000%, 6/01/45
|
6/15 at 100.00
|
A2
|
2,462,864
|
1,290
|
|
5.000%, 6/01/45 – AMBAC Insured
|
6/15 at 100.00
|
A2
|
1,343,380
|
3,635
|
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/17 at 100.00
|
B
|
3,384,476
|
|
|
Bonds, Series 2007A-1, 5.000%, 6/01/33
|
|
|
|
1,750
|
|
Lodi Unified School District, San Joaquin County, California, General Obligation Bonds,
|
8/13 at 100.00
|
AA– (4)
|
1,792,158
|
|
|
Election 2002 Series 2004, 5.000%, 8/01/29 (Pre-refunded 8/01/13) – AGM Insured
|
|
|
|
450
|
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009A, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
625,113
|
10,200
|
|
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 –
|
8/29 at 100.00
|
AA–
|
8,947,643
|
|
|
AGC Insured
|
|
|
|
700
|
|
Victor Elementary School District, San Bernardino County, California, General Obligation
|
No Opt. Call
|
Aa3
|
450,310
|
|
|
Bonds, Series 2002A, 0.000%, 8/01/24 – FGIC Insured
|
|
|
|
23,390
|
|
Total California
|
|
|
22,860,714
|
|
|
Colorado – 5.1%
|
|
|
|
5,000
|
|
Denver City and County, Colorado, Airport System Revenue Bonds, Series 2005A, 5.000%, 11/15/25 –
|
11/15 at 100.00
|
A+
|
5,495,450
|
|
|
SYNCORA GTY Insured
|
|
|
|
3,605
|
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/27 –
|
9/20 at 67.94
|
BBB
|
1,759,961
|
|
|
NPFG Insured
|
|
|
|
4,000
|
|
Park Creek Metropolitan District, Colorado, Senior Property Tax Supported Revenue Bonds,
|
12/19 at 100.00
|
AA–
|
4,699,960
|
|
|
Series 2009, 6.375%, 12/01/37 – AGC Insured
|
|
|
|
12,605
|
|
Total Colorado
|
|
|
11,955,371
|
|
|
Florida – 8.1%
|
|
|
|
9,500
|
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2009A,
|
10/19 at 100.00
|
A
|
10,841,779
|
|
|
5.500%, 10/01/41
|
|
|
|
|
|
Miami-Dade County, Florida, General Obligation Bonds, Build Better Communities Program, Series
|
|
|
|
|
|
2009-B1:
|
|
|
|
2,500
|
|
6.000%, 7/01/38
|
7/18 at 100.00
|
Aa2
|
2,959,400
|
2,000
|
|
5.625%, 7/01/38
|
7/18 at 100.00
|
Aa2
|
2,329,620
|
300
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/17 at 100.00
|
N/R
|
215,307
|
|
|
Capital Appreciation, Series 2012A-2, 0.000%, 5/01/39
|
|
|
|
865
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/19 at 100.00
|
N/R
|
498,404
|
|
|
Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40
|
|
|
|
375
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/22 at 100.00
|
N/R
|
158,959
|
|
|
Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40
|
|
|
|
525
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series
|
5/18 at 100.00
|
N/R
|
5
|
|
|
2007-3, 6.450%, 5/01/23 (5)
|
|
|
|
70
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing
|
5/18 at 100.00
|
N/R
|
38,028
|
|
|
ParcelSeries 2007-1. RMKT, 6.450%, 5/01/23 (5)
|
|
|
|
910
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series
|
5/17 at 100.00
|
N/R
|
893,666
|
|
|
2012A-1, 6.450%, 5/01/23
|
|
|
|
2,120
|
|
Tolomato Community Development District, Florida, Special Assessment Bonds,
|
5/18 at 100.00
|
N/R
|
979,398
|
|
|
Southern/Forbearance Parcel Series 2007-2, 6.450%, 5/01/23 (5)
|
|
|
|
19,165
|
|
Total Florida
|
|
|
18,914,566
|
|
|
Georgia – 0.8%
|
|
|
|
485
|
|
Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31
|
1/19 at 100.00
|
A2
|
596,734
|
1,000
|
|
Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air
|
6/20 at 100.00
|
B–
|
1,256,740
|
|
|
Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29
|
|
|
|
1,485
|
|
Total Georgia
|
|
|
1,853,474
|
|
|
Illinois – 10.5%
|
|
|
|
3,000
|
|
Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999, 0.000%, 1/01/37 –
|
No Opt. Call
|
Aa3
|
963,690
|
|
|
FGIC Insured
|
|
|
|
260
|
|
Cook and DuPage Counties High School District 210 Lemont, Illinois, General Obligation Bonds,
|
1/16 at 100.00
|
Aa2
|
285,519
|
|
|
Refunding Series 2006, 5.000%, 1/01/26 – NPFG Insured
|
|
|
|
465
|
|
Cook and DuPage Counties High School District 210 Lemont, Illinois, General Obligation Bonds,
|
1/16 at 100.00
|
Aa2 (4)
|
525,004
|
|
|
Refunding Series 2006, 5.000%, 1/01/26 (Pre-refunded 1/01/16) – NPFG Insured
|
|
|
|
1,885
|
|
Cook County Township High School District 225 Northfield, Illinois, General Obligation Bonds,
|
No Opt. Call
|
AAA
|
1,836,405
|
|
|
Capital Appreciation Refunding Series 2002B, 0.000%, 12/01/15 – NPFG Insured
|
|
|
|
5,035
|
|
Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2009A,
|
8/19 at 100.00
|
AA+
|
5,924,131
|
|
|
6.000%, 8/15/39
|
|
|
|
3,500
|
|
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2009A, 7.125%, 11/15/37
|
5/19 at 100.00
|
A
|
4,396,315
|
5,000
|
|
Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group,
|
11/18 at 100.00
|
A2
|
6,272,949
|
|
|
Series 2009A, 7.250%, 11/01/38
|
|
|
|
3,970
|
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc.,
|
5/17 at 100.00
|
BBB+
|
4,201,689
|
|
|
Refunding Series 2007A, 5.250%, 5/01/34
|
|
|
|
560
|
|
Will County Community Unit School District 201U, Crete-Monee, Will County, Illinois, General
|
No Opt. Call
|
A+
|
384,434
|
|
|
Obligation Bonds, Capital Appreciation Series 2004, 0.000%, 11/01/23 – FGIC Insured
|
|
|
|
23,675
|
|
Total Illinois
|
|
|
24,790,136
|
|
|
Indiana – 5.5%
|
|
|
|
5,000
|
|
Indiana Finance Authority, Hospital Revenue Bonds, Deaconess Hospital Obligated Group, Series
|
3/19 at 100.00
|
A+
|
5,905,800
|
|
|
2009A, 6.750%, 3/01/39
|
|
|
|
3,650
|
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest
|
3/17 at 100.00
|
A–
|
3,994,451
|
|
|
Indiana, Series 2007, 5.500%, 3/01/37
|
|
|
|
2,000
|
|
Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2009B,
|
1/19 at 100.00
|
A+
|
2,399,160
|
|
|
6.000%, 1/01/39
|
|
|
|
1,000
|
|
Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E, 0.000%, 2/01/25 –
|
No Opt. Call
|
AA
|
712,230
|
|
|
AMBAC Insured
|
|
|
|
11,650
|
|
Total Indiana
|
|
|
13,011,641
|
|
|
Iowa – 1.2%
|
|
|
|
3,025
|
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
|
6/15 at 100.00
|
B+
|
2,889,904
|
|
|
5.375%, 6/01/38
|
|
|
|
|
|
Kansas – 0.3%
|
|
|
|
955
|
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital
|
No Opt. Call
|
BBB+
|
630,701
|
|
|
Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex
|
|
|
|
|
|
Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21
|
|
|
|
|
|
Louisiana – 7.4%
|
|
|
|
5,000
|
|
Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006C-3,
|
6/18 at 100.00
|
AA–
|
6,086,900
|
|
|
6.125%, 6/01/25 – AGC Insured
|
|
|
|
|
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
|
|
|
|
|
|
Series 2007A:
|
|
|
|
7,000
|
|
5.375%, 5/15/43
|
5/17 at 100.00
|
Baa1
|
7,419,299
|
275
|
|
5.500%, 5/15/47
|
5/17 at 100.00
|
Baa1
|
293,191
|
3,255
|
|
St John Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation, Series 2007A,
|
6/17 at 100.00
|
BBB
|
3,483,371
|
|
|
5.125%, 6/01/37
|
|
|
|
15,530
|
|
Total Louisiana
|
|
|
17,282,761
|
|
|
Maine – 2.0%
|
|
|
|
3,335
|
|
Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Bowdoin College,
|
7/19 at 100.00
|
Aa2
|
4,754,276
|
|
|
Tender Option Bond Trust 2009-5B, 13.740%, 7/01/39 (IF) (6)
|
|
|
|
|
|
Massachusetts – 0.6%
|
|
|
|
1,000
|
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Tender Option Bond
|
8/19 at 100.00
|
AAA
|
1,491,120
|
|
|
Trust 2989, 13.354%, 8/01/38 (IF)
|
|
|
|
|
|
Michigan – 4.0%
|
|
|
|
3,100
|
|
Detroit Water Supply System, Michigan, Water Supply System Revenue Bonds, Refunding Senior
|
7/16 at 100.00
|
AA–
|
3,247,932
|
|
|
Lien Series 2006D, 5.000%, 7/01/32 – AGM Insured
|
|
|
|
5,000
|
|
Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%,
|
7/15 at 100.00
|
A
|
5,092,550
|
|
|
7/01/35 – NPFG Insured
|
|
|
|
1,050
|
|
Huron Valley School District, Oakland and Livingston Counties, Michigan, General Obligation
|
No Opt. Call
|
Aa2
|
1,062,254
|
|
|
Bonds, Refunding Series 2008, 5.000%, 5/01/13 – AGM Insured
|
|
|
|
9,150
|
|
Total Michigan
|
|
|
9,402,736
|
|
|
Nevada – 3.3%
|
|
|
|
1,000
|
|
Clark County Water Reclamation District, Nevada, General Obligation Water Bonds, Series 2009A,
|
7/19 at 100.00
|
AAA
|
1,202,800
|
|
|
5.250%, 7/01/34
|
|
|
|
250
|
|
Clark County, Nevada, Senior Lien Airport Revenue Bonds, Series 2005A, 5.000%, 7/01/40 –
|
7/15 at 100.00
|
Aa2
|
268,710
|
|
|
AMBAC Insured
|
|
|
|
5,415
|
|
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A,
|
6/19 at 100.00
|
BBB–
|
6,215,337
|
|
|
8.000%, 6/15/30
|
|
|
|
6,665
|
|
Total Nevada
|
|
|
7,686,847
|
|
|
New Jersey – 2.8%
|
|
|
|
|
|
New Jersey Educational Facilities Authority, Revenue Refunding Bonds, University of Medicine
|
|
|
|
|
|
and Dentistry of New Jersey, Series 2009B:
|
|
|
|
2,135
|
|
7.125%, 12/01/23
|
6/19 at 100.00
|
A–
|
2,732,587
|
3,000
|
|
7.500%, 12/01/32
|
6/19 at 100.00
|
A–
|
3,764,370
|
5,135
|
|
Total New Jersey
|
|
|
6,496,957
|
|
|
New York – 1.6%
|
|
|
|
3,000
|
|
Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series
|
No Opt. Call
|
A
|
3,709,410
|
|
|
2007, 5.500%, 10/01/37
|
|
|
|
130
|
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
|
12/20 at 100.00
|
BBB–
|
154,938
|
|
|
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
|
|
|
3,130
|
|
Total New York
|
|
|
3,864,348
|
|
|
Ohio – 6.7%
|
|
|
|
5,000
|
|
American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project
|
2/19 at 100.00
|
AA–
|
5,734,900
|
|
|
Series 2009A, 5.750%, 2/15/39 – AGC Insured
|
|
|
|
|
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
|
|
|
|
|
Bonds, Senior Lien, Series 2007A-2:
|
|
|
|
2,115
|
|
5.875%, 6/01/30
|
6/17 at 100.00
|
B
|
1,939,476
|
5,910
|
|
6.500%, 6/01/47
|
6/17 at 100.00
|
B
|
5,774,484
|
2,000
|
|
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, University
|
1/15 at 100.00
|
A (4)
|
2,245,580
|
|
|
Hospitals Health System, Series 2009, 6.750%, 1/15/39 (Pre-refunded 1/15/15)
|
|
|
|
15,025
|
|
Total Ohio
|
|
|
15,694,440
|
|
|
Puerto Rico – 4.8%
|
|
|
|
4,390
|
|
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A,
|
7/18 at 100.00
|
BBB
|
4,538,031
|
|
|
6.000%, 7/01/44
|
|
|
|
500
|
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2003G, 5.000%,
|
No Opt. Call
|
BBB
|
505,560
|
|
|
7/01/22 – FGIC Insured
|
|
|
|
3,000
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
8/19 at 100.00
|
A+
|
3,305,280
|
|
|
2009A, 6.000%, 8/01/42
|
|
|
|
2,500
|
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Tender Option Bonds
|
No Opt. Call
|
AA–
|
2,964,900
|
|
|
Trust 11851, 18.746%, 2/01/16 (IF)
|
|
|
|
10,390
|
|
Total Puerto Rico
|
|
|
11,313,771
|
|
|
Rhode Island – 2.9%
|
|
|
|
3,000
|
|
Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds,
|
5/19 at 100.00
|
A–
|
3,531,390
|
|
|
Lifespan Obligated Group Issue, Series 2009A, 7.000%, 5/15/39
|
|
|
|
3,240
|
|
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,
|
6/13 at 100.00
|
BBB+
|
3,272,368
|
|
|
Series 2002A, 6.125%, 6/01/32
|
|
|
|
6,240
|
|
Total Rhode Island
|
|
|
6,803,758
|
|
|
South Carolina – 1.3%
|
|
|
|
5,435
|
|
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2,
|
No Opt. Call
|
AA–
|
3,020,501
|
|
|
0.000%, 1/01/29 – AMBAC Insured
|
|
|
|
|
|
Texas – 5.8%
|
|
|
|
3,550
|
|
Ennis Independent School District, Ellis County, Texas, General Obligation Bonds, Series 2006,
|
8/16 at 46.64
|
Aaa
|
1,534,346
|
|
|
0.000%, 8/15/31
|
|
|
|
5,300
|
|
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F,
|
1/18 at 100.00
|
A3
|
5,888,512
|
|
|
5.750%, 1/01/38
|
|
|
|
5,000
|
|
Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center,
|
12/13 at 100.00
|
A+
|
5,114,600
|
|
|
Series 2004, 6.000%, 12/01/34
|
|
|
|
1,000
|
|
Texas State, General Obligation Bonds, Public Financing Authority, Refunding Series 2011,
|
No Opt. Call
|
Aaa
|
1,025,610
|
|
|
4.000%, 10/01/13
|
|
|
|
14,850
|
|
Total Texas
|
|
|
13,563,068
|
|
|
Virgin Islands – 0.5%
|
|
|
|
1,000
|
|
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project,
|
10/19 at 100.00
|
BBB
|
1,179,320
|
|
|
Series 2009A, 6.750%, 10/01/37
|
|
|
|
|
|
Virginia – 1.1%
|
|
|
|
2,000
|
|
Washington County Industrial Development Authority, Virginia, Hospital Revenue Bonds,
|
1/19 at 100.00
|
BBB+
|
2,491,180
|
|
|
Mountain States Health Alliance, Series 2009C, 7.750%, 7/01/38
|
|
|
|
|
|
Wisconsin – 7.6%
|
|
|
|
5,000
|
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Healthcare Inc.,
|
4/13 at 100.00
|
A
|
5,031,150
|
|
|
Series 2003, 6.400%, 4/15/33
|
|
|
|
1,500
|
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc.
|
2/19 at 100.00
|
A+
|
1,767,885
|
|
|
Obligated Group, Series 2009, 6.625%, 2/15/39
|
|
|
|
9,000
|
|
Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A,
|
5/19 at 100.00
|
AA–
|
11,009,429
|
|
|
6.000%, 5/01/36
|
|
|
|
15,500
|
|
Total Wisconsin
|
|
|
17,808,464
|
$ 220,295
|
|
Total Investments (cost $185,849,368) – 98.4%
|
|
|
230,963,796
|
|
|
Other Assets Less Liabilities – 1.6%
|
|
|
3,800,827
|
|
|
Net Assets – 100%
|
|
|
$ 234,764,623
|