Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
28 September 2023 - 4:43PM
Edgar (US Regulatory)
Nuveen
Dynamic
Municipal
Opportiunities
Fund
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
LONG-TERM
INVESTMENTS
-
135.5%
(100.0%
of
Total
Investments)
X
–
MUNICIPAL
BONDS
-
133
.9
%
(
98
.8
%
of
Total
Investments)
X
868,758,935
Alabama
-
2.0%
(1.5%
of
Total
Investments)
$
5,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023A,
5.250%,
1/01/54,
(Mandatory
Put
10/01/30)
7/30
at
100.25
A2
$
5,274,000
2,360
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
2,606,289
4,960
Mobile
County,
Alabama,
Limited
Obligation
Warrants,
Gomesa
Projects,
Series
2020,
4.000%,
11/01/45,
144A
11/29
at
100.00
N/R
4,340,645
777
Tuscaloosa
County
Industrial
Development
Authority,
Alabama,
Gulf
Opportunity
Zone
Bonds,
Hunt
Refining
Project,
Refunding
Series
2019A,
4.500%,
5/01/32,
144A
5/29
at
100.00
N/R
726,122
Total
Alabama
12,947,056
Arizona
-
7.8%
(5.7%
of
Total
Investments)
2,580
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Series
2021B,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R
1,878,008
4,070
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021A,
5.000%,
7/01/51,
144A
7/28
at
103.00
N/R
2,960,396
1,000
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021C,
6.000%,
7/01/29,
144A
No
Opt.
Call
N/R
923,800
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Mater
Academy
of
Nevada
-
Bonanza
Campus
Project,
Series
2020A:
920
5.000%,
12/15/40,
144A
12/28
at
100.00
BB
880,799
1,500
5.000%,
12/15/50,
144A
12/28
at
100.00
BB
1,357,155
1,500
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Social
Bonds
?
Pensar
Academy
Project,
Series
2020,
5.000%,
7/01/55,
144A
7/28
at
100.00
BB-
1,258,185
4,500
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1,
4.000%,
12/01/51,
144A
12/31
at
100.00
BB
3,460,860
5,085
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2022-
2,
5.000%,
9/01/52,
(AMT),
(Mandatory
Put
9/01/27)
3/27
at
100.00
A
5,227,481
1,090
Coconino
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Flagstaff
Arts
&
Leadership
Academy
Project,
Refunding
Series
2020,
5.500%,
7/01/40,
144A
7/28
at
100.00
N/R
919,764
1,000
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020,
5.250%,
10/01/40,
144A
10/27
at
103.00
N/R
982,170
6,410
Maricopa
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Banner
Health,
Series
2023A-3,
5.000%,
1/01/53,
(Mandatory
Put
11/01/30)
11/29
at
101.58
AA-
7,108,626
Phoenix
Civic
Improvement
Corporation,
Arizona,
Airport
Revenue
Bonds,
Senior
Lien
Refunding
Series
2023:
1,560
5.000%,
7/01/30,
(AMT)
No
Opt.
Call
AA-
1,712,740
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Arizona
(continued)
$
1,370
5.000%,
7/01/31,
(AMT)
No
Opt.
Call
AA-
$
1,516,878
1,260
5.000%,
7/01/32,
(AMT)
No
Opt.
Call
AA-
1,404,068
3,405
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
2,731,491
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Refunding
Series
2020:
5,265
5.000%,
7/01/35,
144A
7/26
at
103.00
N/R
5,162,385
6,800
5.000%,
7/01/40,
144A
7/26
at
103.00
N/R
6,340,388
4,580
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020-1,
5.000%,
6/15/50,
144A
6/28
at
100.00
N/R
3,934,220
800
Pima
County
Industrial
Development
Authority,
Arizona,
Revenue
Bonds,
Tucson
Medical
Center,
Series
2021A,
4.000%,
4/01/40
4/31
at
100.00
A
763,888
Total
Arizona
50,523,302
Arkansas
-
1.8%
(1.3%
of
Total
Investments)
4,500
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-
4,499,775
8,000
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-
7,290,080
Total
Arkansas
11,789,855
California
-
12.1%
(8.9%
of
Total
Investments)
2,000
Alvord
Unified
School
District,
Riverside
County,
California,
General
Obligation
Bonds,
Refunding
Series
2002A,
5.900%,
8/01/30
-
NPFG
Insured
No
Opt.
Call
A1
2,193,920
1,205
Antelope
Valley
Healthcare
District,
California,
Revenue
Bonds,
Series
2016A,
5.000%,
3/01/26
No
Opt.
Call
BBB
1,209,627
1,960
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
5.250%,
1/01/54,
(Mandatory
Put
10/01/31)
10/30
at
100.65
Baa1
2,048,396
4,500
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023D,
5.500%,
5/01/54,
(Mandatory
Put
11/01/28)
8/28
at
100.24
A2
4,749,120
3,815
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A,
4.000%,
2/01/56,
144A
8/31
at
100.00
N/R
2,442,554
10,000
California
County
Tobacco
Securitization
Agency,
Tobacco
Settlement
Asset-Backed
Bonds,
Sonoma
County
Tobacco
Securitization
Corporation,
Series
2020B-2,
0.000%,
6/01/55
12/30
at
34.02
N/R
2,188,900
7,000
California
Municipal
Finance
Authority,
Special
Facility
Revenue
Bonds,
United
Airlines,
Inc.
Los
Angeles
International
Airport
Project,
Series
2019,
4.000%,
7/15/29,
(AMT)
No
Opt.
Call
BB-
6,948,620
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012:
2,500
5.000%,
7/01/37,
(AMT),
144A
1/24
at
100.00
Baa3
2,500,575
3,885
5.000%,
11/21/45,
(AMT),
144A
1/24
at
100.00
Baa3
3,865,653
5,000
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
3,995,200
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
California
(continued)
$
465
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
$
410,037
2,000
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
1,475,740
1,105
California
State,
General
Obligation
Bonds,
Various
Purpose
Refunding
Series
2023,
4.000%,
10/01/42
4/33
at
100.00
AA-
1,126,746
3,935
California
State,
General
Obligation
Bonds,
Various
Purpose
Series
2023,
5.250%,
10/01/45
4/33
at
100.00
AA-
4,511,989
6,180
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A,
5.000%,
1/01/54,
144A
1/31
at
100.00
N/R
4,943,567
2,750
Irvine
Facilities
Financing
Authority,
California,
Special
Tax
Revenue
Bonds,
Great
Park
Infrastructure
Project
Series
2023A,
5.000%,
9/01/40
9/33
at
100.00
AA-
3,106,703
1,280
Los
Angeles
Department
of
Water
and
Power,
California,
Power
System
Revenue
Bonds,
Series
2022C,
5.000%,
7/01/52
1/32
at
100.00
AA-
1,394,739
Metropolitan
Water
District
of
Southern
California,
Water
Revenue
Bonds,
Refunding
Series
2023A:
750
5.000%,
4/01/41
4/33
at
100.00
Aa1
860,617
500
5.000%,
4/01/42
4/33
at
100.00
Aa1
570,305
530
5.000%,
4/01/43
4/33
at
100.00
Aa1
602,006
985
Northstar
Community
Services
District,
California,
Special
Tax
Bonds,
Community
Facilities
District
1,
Series
2006,
1.250%,
9/01/37
(4)
9/23
at
100.00
N/R
364,610
1,070
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Refunding
Series
2022A-1,
5.000%,
9/01/42
-
AGM
Insured
9/29
at
103.00
AA
1,178,252
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2:
1,070
5.000%,
9/01/42
9/29
at
103.00
N/R
1,034,316
1,805
5.250%,
9/01/47
9/29
at
103.00
N/R
1,786,751
1,000
5.000%,
9/01/52
9/29
at
103.00
N/R
946,160
5,000
Sacramento
Municipal
Utility
District,
California,
Electric
Revenue
Bonds,
Refunding
Series
2023D,
5.000%,
8/15/49,
(Mandatory
Put
10/15/30)
4/30
at
100.00
AA-
5,666,600
750
San
Francisco
Community
College
District,
California,
General
Obligation
Bonds,
Taxable
Election
2020
Series
2020A-1,
3.165%,
6/15/41
6/30
at
100.00
A1
574,275
420
San
Jose,
California,
Airport
Revenue
Bonds,
Taxable
Refunding
Series
2021C,
3.290%,
3/01/41
3/31
at
100.00
A
317,726
West
Contra
Costa
Unified
School
District,
Contra
Costa
County,
California,
General
Obligation
Bonds,
Refunding
Series
2023:
3,245
5.000%,
8/01/31
-
BAM
Insured
,
(WI/DD)
No
Opt.
Call
AA
3,776,077
3,925
5.000%,
8/01/33
-
BAM
Insured
,
(WI/DD)
No
Opt.
Call
AA
4,694,221
6,000
5.000%,
8/01/34
-
BAM
Insured
,
(WI/DD)
8/33
at
100.00
AA
7,162,560
Total
California
78,646,562
Colorado
-
18.5%
(13.7%
of
Total
Investments)
2,370
64th
Avenue
ARI
Authority,
Adams
County,
Colorado,
Special
Revenue
Bonds,
Series
2020,
6.500%,
12/01/43
12/25
at
103.00
N/R
2,278,494
1,240
Arista
Metropolitan
District,
Broomfield
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Refunding
&
Improvement
Convertible
to
Unlimited
Tax
Series
2018A,
5.000%,
12/01/38
12/23
at
103.00
N/R
1,205,044
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,060
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
9/25
at
103.00
N/R
$
941,693
2,285
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B,
7.750%,
12/15/50
9/25
at
103.00
N/R
2,119,543
5,220
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
4,741,535
499
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
4.000%,
12/01/29
9/24
at
103.00
N/R
470,881
1,725
Belford
North
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A,
5.500%,
12/01/50
12/25
at
103.00
N/R
1,551,034
1,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A,
5.000%,
12/01/51
3/26
at
103.00
N/R
873,900
734
Blue
Lake
Metropolitan
District
3,
Lochbuie,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2018A,
5.250%,
12/01/48,
(Pre-refunded
12/01/23)
12/23
at
103.00
N/R (5)
760,035
500
Broadway
Park
North
Metropolitan
District
2,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2020,
5.000%,
12/01/40,
144A
12/25
at
103.00
N/R
480,335
1,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.125%,
12/01/48
6/24
at
103.00
N/R
797,620
1,500
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Junior
Subordinate
Series
2016,
7.000%,
12/15/57
8/23
at
100.00
N/R
1,032,465
1,755
Centerra
Metropolitan
District
1,
Loveland,
Colorado,
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2020A,
5.000%,
12/01/51
12/25
at
103.00
N/R
1,530,009
1,450
Citadel
on
Colfax
Business
Improvement
District,
Aurora,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Senior
Series
2020A,
5.350%,
12/01/50
12/25
at
103.00
N/R
1,299,026
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A:
100
4.000%,
7/01/41,
144A
7/31
at
100.00
N/R
82,642
100
4.000%,
7/01/51,
144A
7/31
at
100.00
N/R
74,917
1,000
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020,
5.000%,
12/01/50,
144A
12/30
at
100.00
N/R
854,480
1,890
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2023A-1,
0.000%,
11/15/58,
(Mandatory
Put
11/15/28)
11/27
at
101.76
AA
2,057,870
5,370
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
AdventHealth
Obligated
Group,
Series
2023A-2,
5.000%,
11/15/57,
(Mandatory
Put
11/15/33)
11/32
at
101.57
AA
6,171,258
500
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Cappella
of
Grand
Junction
Project,
Series
2019,
5.000%,
12/01/54,
144A
12/26
at
103.00
N/R
327,285
16,000
Colorado
International
Center
Metropolitan
District
8,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
6.500%,
12/01/50
9/25
at
103.00
N/R
14,718,400
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
6,500
Crystal
Valley
Metropolitan
District
2,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2020A,
3.000%,
12/01/49
-
AGM
Insured
12/30
at
100.00
A1
$
4,909,970
656
Dacono
Urban
Renewal
Authority,
Weld
County,
Colorado,
Tax
Increment
Revenue
Bonds,
Series
2020,
6.250%,
12/01/39
12/25
at
103.00
N/R
623,830
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A:
1,000
5.000%,
11/15/31,
(AMT)
No
Opt.
Call
AA-
1,111,220
1,355
5.500%,
11/15/40,
(AMT)
11/32
at
100.00
AA-
1,523,101
4,000
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A,
6.750%,
12/01/34,
144A
9/27
at
103.00
N/R
4,002,320
1,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014,
6.000%,
12/01/38
12/24
at
100.00
N/R
942,570
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A:
1,425
5.250%,
12/01/32
12/30
at
102.00
N/R
1,417,618
1,200
5.750%,
12/01/52
12/30
at
102.00
N/R
1,174,920
2,000
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.500%,
6/01/50,
144A
6/25
at
103.00
N/R
1,726,440
5,250
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B,
5.750%,
12/15/50
12/23
at
103.00
N/R
5,098,118
2,000
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A,
5.750%,
12/01/50
12/25
at
103.00
N/R
1,717,300
1,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.125%,
12/01/50
12/25
at
103.00
N/R
804,700
1,380
Lanterns
Metropolitan
District
1,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A,
5.000%,
12/01/39
9/24
at
103.00
N/R
1,332,100
3,000
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
3,001,470
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A:
500
5.000%,
12/01/41
6/26
at
103.00
N/R
459,015
500
5.000%,
4/15/51
6/26
at
103.00
N/R
430,420
500
Meadowbrook
Heights
Metropolitan
District,
Jefferson
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2021A(3),
4.875%,
12/01/51
9/26
at
103.00
N/R
393,590
480
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/49
3/25
at
103.00
N/R
434,554
2,000
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3,
5.000%,
12/01/40
12/25
at
103.00
N/R
1,857,360
1,810
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
12/25
at
103.00
N/R
1,582,845
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019:
500
4.000%,
12/01/29
12/24
at
103.00
N/R
469,495
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Colorado
(continued)
$
1,250
5.000%,
12/01/39
12/24
at
103.00
N/R
$
1,192,175
285
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/51,
144A
3/26
at
103.00
N/R
248,828
1,100
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1,
7.500%,
12/01/52
12/27
at
103.00
N/R
1,102,277
925
Pinon
Pines
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020,
5.000%,
12/01/40
9/25
at
103.00
N/R
882,617
7,040
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
N/R
6,650,336
3,665
Rampart
Range
Metropolitan
District
1,
Lone
Tree,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017,
5.000%,
12/01/42
12/27
at
100.00
A1
3,787,191
2,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021,
4.000%,
12/01/41
10/26
at
102.00
N/R
1,562,520
740
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Subordinate
Series
2020B,
7.125%,
12/15/50
12/25
at
102.00
N/R
711,791
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020:
2,350
5.000%,
12/01/40
12/25
at
103.00
N/R
2,216,919
2,300
5.125%,
12/01/50
12/25
at
103.00
N/R
2,065,078
2,175
Sunlight
Metropolitan
District,
Steamboat
Springs,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
5.000%,
12/01/50
12/25
at
103.00
N/R
1,916,088
496
Tallman
Gulch
Metropolitan
District, Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Refunding
and
Improvement
Bonds,Subordinate
Limited
Tax
General
Obligation
Bonds,
Series
2018A,
5.250%,
12/01/47
8/23
at
103.00
N/R
482,038
1,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2,
5.500%,
12/01/51
3/26
at
103.00
N/R
758,670
1,270
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/41
3/26
at
103.00
N/R
1,144,207
5,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
6.000%,
12/01/50
12/23
at
81.31
N/R
3,427,600
10,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.375%,
12/01/50
12/23
at
103.00
N/R
9,240,000
1,500
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021,
5.000%,
12/01/51
3/26
at
103.00
N/R
1,311,405
2,000
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1,
4.125%,
12/01/51,
144A
9/26
at
103.00
N/R
1,226,040
983
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Taxable
Converting
to
Tax-
Exempt
Refunding
Subordinate
Series
2020B-1,
6.250%,
12/15/40
12/25
at
103.00
N/R
908,439
Total
Colorado
120,215,641
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Connecticut
-
0.6%
(0.4%
of
Total
Investments)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A:
$
1,325
4.000%,
7/01/34
7/29
at
100.00
Baa3
$
1,316,361
1,250
4.000%,
7/01/36
7/29
at
100.00
Baa2
1,213,338
1,255
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2016B-1,
2.950%,
11/15/31
11/25
at
100.00
AAA
1,175,897
Total
Connecticut
3,705,596
District
of
Columbia
-
0.2%
(0.1%
of
Total
Investments)
1,000
Washington
Convention
and
Sports
Authority,
Washington
D.C.,
Dedicated
Tax
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021A,
4.000%,
10/01/37
10/30
at
100.00
A+
1,009,970
Total
District
of
Columbia
1,009,970
Florida
-
14.1%
(10.4%
of
Total
Investments)
1,565
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021,
3.750%,
5/01/41
5/31
at
100.00
N/R
1,296,775
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
South
Tech
Schools
Project,
Series
2020A:
1,230
5.000%,
6/15/40,
144A
6/27
at
100.00
N/R
1,112,633
1,260
5.000%,
6/15/55,
144A
6/27
at
100.00
N/R
1,060,013
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
Babcock
Neighborhood
School
Inc,
Series
2021:
250
4.000%,
8/15/51,
144A
8/28
at
100.00
N/R
179,895
450
4.200%,
8/15/56,
144A
8/28
at
100.00
N/R
326,592
500
4.250%,
8/15/61,
144A
8/28
at
100.00
N/R
358,145
1,000
Capital
Trust
Agency,
Florida,
Revenue
Bonds,
St.
Johns
Classical
Academy,
Refunding
Series
2021A,
4.000%,
6/15/56,
144A
6/30
at
100.00
N/R
715,460
4,870
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020B,
4.250%,
5/01/41,
144A
No
Opt.
Call
N/R
4,317,109
2,500
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
2,026,300
1,000
Edgewater
East
Community
Development
District,
Osceola
County,
Florida,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2021,
4.000%,
5/01/51
5/31
at
100.00
N/R
783,090
10,000
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Discovery
High
School
Project,
Series
2020A,
5.000%,
6/01/55,
144A
6/29
at
100.00
N/R
8,293,000
2,450
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2023,
6.125%,
7/01/32,
(AMT),
(Mandatory
Put
7/01/26),
144A
4/26
at
100.00
N/R
2,467,958
19,650
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
19,541,925
Florida
Development
Finance
Corporation,
Florida,
Surface
Transportation
Facility
Revenue
Bonds,
Virgin
Trains
USA
Passenger
Rail
Project,
Series
2019A:
1,250
6.375%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/26),
144A
8/23
at
102.00
N/R
1,210,337
6,890
6.500%,
1/01/49,
(AMT),
(Mandatory
Put
1/01/29),
144A
8/23
at
102.00
N/R
6,648,919
Florida
Development
Finance
Corporation,
Healthcare
Facilties
Revenue
Bonds,
Lakeland
Regional
Health
Systems,
Series
2021:
450
4.000%,
11/15/35
11/31
at
100.00
A2
451,876
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Florida
(continued)
$
1,000
4.000%,
11/15/37
11/31
at
100.00
A2
$
981,470
1,940
4.000%,
11/15/38
11/31
at
100.00
A2
1,886,786
2,750
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
2,706,550
22,505
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
22,966,803
985
Forest
Lake
Community
Development
District,
Polk
County,
Florida,
Specia
Assessment
Bonds,
Assessment
Area
1
Project,
Series
2020,
4.000%,
5/01/51,
144A
5/30
at
100.00
N/R
809,818
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2020:
1,100
4.250%,
5/01/40
5/31
at
100.00
N/R
985,160
1,500
4.500%,
5/01/52
5/31
at
100.00
N/R
1,285,350
2,500
Greater
Orlando
Aviation
Authority,
Florida,
Special
Purpose
Airport
Facilities
Revenue
Bonds,
JetBlue
Airways
Corporation,
Series
2013,
5.000%,
11/15/36,
(AMT)
8/23
at
100.00
N/R
2,497,400
1,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area1
Project,
Series
2020,
4.000%,
5/01/51
5/30
at
100.00
N/R
849,410
1,225
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Miami
Community
Charter
School
Inc
Project,
Series
2020A,
5.000%,
6/01/47,
144A
6/26
at
103.00
Ba2
1,023,169
870
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT),
(UB)
(6)
10/32
at
100.00
A3
913,335
2,840
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009,
0.000%,
10/01/42
-
BAM
Insured
No
Opt.
Call
A2
1,238,183
1,145
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A,
4.000%,
5/01/44
5/26
at
100.00
Aa3
1,099,647
310
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B,
4.625%,
5/01/36,
144A
9/23
at
100.00
N/R
292,683
425
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021,
2.700%,
5/01/31
No
Opt.
Call
N/R
367,553
450
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023,
4.250%,
5/01/28,
144A
No
Opt.
Call
N/R
452,313
420
Windward
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2020A-2,
4.400%,
11/01/35
No
Opt.
Call
N/R
397,622
Total
Florida
91,543,279
Georgia
-
0.6%
(0.5%
of
Total
Investments)
500
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2021A,
3.000%,
2/15/51
-
BAM
Insured
2/31
at
100.00
AA
375,670
1,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A,
4.000%,
4/01/42
4/27
at
100.00
A2
963,080
2,750
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
4.000%,
8/01/52,
(Mandatory
Put
11/01/27),
144A
5/27
at
100.81
BBB-
2,655,180
Total
Georgia
3,993,930
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Guam
-
0.1%
(0.1%
of
Total
Investments)
Guam
A.B.
Won
Pat International
Airport
Authority,
Revenue
Bonds,
Series
2021A:
$
765
3.099%,
10/01/28
No
Opt.
Call
Baa2
$
664,005
450
4.460%,
10/01/43
10/31
at
100.00
Baa2
337,401
Total
Guam
1,001,406
Illinois
-
5.8%
(4.3%
of
Total
Investments)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023:
1,000
5.250%,
4/01/34
4/33
at
100.00
A
1,128,220
1,055
5.000%,
4/01/41
4/33
at
100.00
A
1,112,117
1,275
5.500%,
4/01/43
4/33
at
100.00
A
1,385,734
2,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2021A,
5.000%,
12/01/34
12/30
at
100.00
BB+
2,090,480
1,000
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Second
Lien
Series
2014A,
5.000%,
1/01/31
1/24
at
100.00
A3
1,002,180
1,750
Chicago,
Illinois,
Wastewater
Transmission
Revenue
Bonds,
Second
Lien
Project,
Refunding
Series
2023B,
5.000%,
1/01/36
-
AGM
Insured
7/32
at
100.00
A
1,968,382
Chicago,
Illinois,
Water
Revenue
Bonds,
Refunding
Second
Lien
Series
2023B:
450
5.000%,
11/01/34
-
AGM
Insured
5/32
at
100.00
A
509,954
450
5.000%,
11/01/35
-
AGM
Insured
5/32
at
100.00
A
505,732
270
5.000%,
11/01/36
-
AGM
Insured
5/32
at
100.00
A
300,648
270
5.000%,
11/01/38
-
AGM
Insured
5/32
at
100.00
A
296,533
750
5.000%,
11/01/39
-
AGM
Insured
5/32
at
100.00
A
821,280
2,475
Cook
County,
Illinois,
Sales
Tax
Revenue
Bonds,
Series
2021A,
4.000%,
11/15/39
11/30
at
100.00
AA-
2,466,239
750
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/
fkaPresence
Health
Network,
Series
2016C,
4.000%,
2/15/41
2/27
at
100.00
Aa2
729,503
240
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022,
5.000%,
3/01/34
9/32
at
100.00
BBB-
246,514
875
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A,
5.000%,
11/01/49
11/26
at
103.00
N/R
710,657
815
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-
Elmhurst
Health
Credit
Group,
Series
2022A,
5.000%,
8/15/47
8/32
at
100.00
AA-
862,669
4,400
Illinois
State,
General
Obligation
Bonds,
Build
America
Taxable
Bonds,
Series
2010-4,
7.100%,
7/01/35
No
Opt.
Call
BBB+
4,682,216
1,500
Illinois
State,
General
Obligation
Bonds,
May
Series
2014,
5.000%,
5/01/32
5/24
at
100.00
BBB+
1,513,635
2,100
Illinois
State,
General
Obligation
Bonds,
October
Series
2020B,
4.000%,
10/01/33
10/30
at
100.00
BBB+
2,146,347
1,730
Illinois
Toll
Highway
Authority,
Toll
Highway
Revenue
Bonds,
Senior
Series
2023A,
5.250%,
1/01/43
7/33
at
100.00
AA-
1,924,556
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A:
1,290
0.000%,
12/15/35
12/31
at
90.33
BBB
779,766
1,800
0.000%,
6/15/39
12/31
at
81.66
BBB
888,786
1,500
0.000%,
6/15/40
12/31
at
79.15
BBB
701,745
1,415
0.000%,
12/15/40
12/31
at
78.00
BBB
647,235
550
0.000%,
12/15/41
12/31
at
75.58
BBB
238,442
5,190
Romeoville,
Will
County,
Illinois,
Revenue
Bonds,
Lewis
University
Project,
Series
2015,
5.000%,
10/01/35
4/25
at
100.00
BBB
5,220,725
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Illinois
(continued)
$
2,365
Sales
Tax
Securitization
Corporation,
Illinois,
Second
Lien
Sales
Tax
Securitization
Bonds,
Refunding
Series
2023C,
5.000%,
1/01/34
,
(WI/
DD)
1/33
at
100.00
AA-
$
2,642,367
Total
Illinois
37,522,662
Indiana
-
2.8%
(2.1%
of
Total
Investments)
1,415
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A,
5.875%,
6/01/55,
144A
6/30
at
100.00
N/R
1,213,659
1,190
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Depauw
University
Project,
Series
2019,
5.000%,
7/01/37
7/29
at
100.00
Baa1
1,227,366
1,625
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
1,839,159
1,000
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Long
Term
Rate
Series
2023B-1,
5.000%,
10/01/62,
(Mandatory
Put
7/01/28)
7/27
at
101.76
AA
1,083,540
3,185
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Long
Term
Rate
Series
2023B-2,
5.000%,
10/01/60,
(Mandatory
Put
7/01/30)
7/29
at
101.68
AA
3,551,243
3,375
Indiana
Finance
Authority,
Hospital
Revenue
Bonds,
Indiana
University
Health
Obligation
Group,
Long
Term
Rate
Series
2023B-3,
5.000%,
10/01/55,
(Mandatory
Put
7/01/32)
7/31
at
101.64
AA
3,844,665
1,500
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2015I,
5.000%,
1/01/32,
(AMT)
1/25
at
100.00
A
1,523,520
3,770
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
4.400%,
11/01/45,
(AMT),
(Mandatory
Put
6/10/31)
No
Opt.
Call
A2
3,844,910
Total
Indiana
18,128,062
Iowa
-
0.6%
(0.5%
of
Total
Investments)
2,500
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+
2,424,850
1,745
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50,
(Mandatory
Put
12/01/42)
12/29
at
103.00
BBB-
1,781,418
Total
Iowa
4,206,268
Kentucky
-
1.3%
(0.9%
of
Total
Investments)
3,000
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020,
6.000%,
12/01/40
12/30
at
100.00
N/R
2,668,110
2,175
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
2.125%,
10/01/34,
(AMT)
6/31
at
100.00
A
1,703,221
1,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B,
5.500%,
12/01/60
12/30
at
100.00
N/R
816,490
3,000
Public
Energy
Authority
of
Kentucky,
Gas
Supply
Revenue
Bonds,
Series
2018A,
4.000%,
4/01/48,
(Mandatory
Put
4/01/24)
1/24
at
100.37
A1
2,998,140
Total
Kentucky
8,185,961
Louisiana
-
0.9%
(0.7%
of
Total
Investments)
1,150
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A,
5.250%,
6/01/51,
144A
6/31
at
100.00
N/R
951,993
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Louisiana
(continued)
$
2,720
Louisiana
Stadium
and
Exposition
District,
Revenue
Bonds,
Senior
Series
2023A,
5.000%,
7/01/43
7/33
at
100.00
A2
$
2,961,019
2,000
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-
2,159,220
Total
Louisiana
6,072,232
Maryland
-
0.8%
(0.6%
of
Total
Investments)
200
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2022,
4.500%,
6/01/33,
144A
6/31
at
100.00
N/R
196,406
5,170
Frederick
County,
Maryland,
Special
Tax
Limited
Obligation
Bonds,
Jefferson
Technology
Park
Project,
Refunding
Series
2020A,
5.000%,
7/01/43,
144A
7/30
at
102.00
N/R
5,092,864
Total
Maryland
5,289,270
Massachusetts
-
0.7%
(0.5%
of
Total
Investments)
Massachusetts
Development
Finance
Agency,
Revenue
Bonds,
Northeastern
University,
Series
2022:
395
5.000%,
10/01/39
10/32
at
100.00
A1
446,492
2,755
5.000%,
10/01/41
10/32
at
100.00
A1
3,089,760
935
5.000%,
10/01/44
10/32
at
100.00
A1
1,038,682
Total
Massachusetts
4,574,934
Michigan
-
0.7%
(0.5%
of
Total
Investments)
5,000
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Financial
Recovery
Series
2014B-1,
4.000%,
4/01/44
8/23
at
100.00
N/R
3,725,900
710
Gerald
R.
Ford
International
Airport
Authority,
Kent
County,
Michigan,
Revenue
Bonds,
Limited
Tax
General
Obligation
Series
2021,
5.000%,
1/01/46,
(AMT)
1/32
at
100.00
AAA
748,873
Total
Michigan
4,474,773
Minnesota
-
1.4%
(1.0%
of
Total
Investments)
1,780
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Series
2023A,
5.000%,
11/15/52,
(Mandatory
Put
11/15/28)
5/28
at
100.91
A1
1,915,476
2,325
Minneapolis,
Minnesota,
Health
Care
System
Revenue
Bonds,
Allina
Health
System,
Series
2023B,
5.000%,
11/15/53,
(Mandatory
Put
11/15/30)
11/29
at
101.75
A1
2,564,033
3,745
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023,
5.500%,
3/01/53,
144A
3/33
at
100.00
Ba1
3,472,402
1,140
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2020A,
5.000%,
12/01/55
12/28
at
102.00
BB-
928,222
Total
Minnesota
8,880,133
Missouri
-
1.7%
(1.3%
of
Total
Investments)
180
Cape
Girardeau
County
Industrial
Development
Authority,
Missouri,
Health
Facilities
Revenue
Bonds,
Southeasthealth,
Series
2021,
4.000%,
3/01/41
3/31
at
100.00
BB-
154,154
1,100
M150
and
135th
Street
Transporation
Development
District,
Kansas
City,
Missouri,
Transportation
Sales
Tax
Revenue
Bonds,
Series
2020A,
4.250%,
10/01/43
10/27
at
100.00
N/R
916,817
2,990
Metropolitan
St.
Louis
Sewerage
District,
Missouri,
Wastewater
System
Revenue
Bonds,
Series
2023A,
5.000%,
5/01/39
5/33
at
100.00
AA+
3,387,491
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F,
4.000%,
11/15/45
11/24
at
100.00
A+
2,891,640
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Missouri
(continued)
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020:
$
1,000
5.000%,
10/01/40
-
AGM
Insured
10/30
at
100.00
A1
$
1,060,150
2,625
5.000%,
10/01/45
-
AGM
Insured
10/30
at
100.00
A1
2,754,911
Total
Missouri
11,165,163
Montana
-
0.3%
(0.2%
of
Total
Investments)
1,975
Forsyth,
Rosebud
County,
Montana,
Pollution
Control
Revenue
Refunding
Bonds,
Northwestern
Corporation
Colstrip
Project,
Series
2023,
3.875%,
7/01/28
4/28
at
100.00
A3
1,979,720
Total
Montana
1,979,720
Nebraska
-
0.6%
(0.4%
of
Total
Investments)
3,750
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
Series
2022-1,
5.000%,
5/01/53,
(Mandatory
Put
10/01/29)
7/29
at
100.22
A2
3,890,512
Total
Nebraska
3,890,512
Nevada
-
0.5%
(0.4%
of
Total
Investments)
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
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
611
Sunstone
Phase
I
and
II,
Series
2020:
445
4.000%,
6/01/40
6/30
at
100.00
N/R
393,977
1,135
4.125%,
6/01/50
6/30
at
100.00
N/R
955,840
Total
Nevada
3,129,297
New
Hampshire
-
0.2%
(0.1%
of
Total
Investments)
1,250
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Catholic
Medical
Center,
Series
2017,
3.750%,
7/01/40
7/27
at
100.00
Baa3
1,043,138
Total
New
Hampshire
1,043,138
New
Jersey
-
1.1%
(0.8%
of
Total
Investments)
1,685
New
Jersey
Economic
Development
Authority,
Energy
Facilities
Revenue
Bonds,
UMM
Energy
Partners,
LLC
Project,
Series
2012A,
7.000%,
6/15/30,
144A
8/23
at
100.00
Baa2
1,670,677
750
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A,
3.375%,
7/01/30
7/27
at
100.00
BB+
726,390
750
New
Jersey
Economic
Development
Authority,
Water
Facilities
Revenue
Bonds,
New
Jersey-American
Water
Company
Inc.
Project,
Refunding
Series
2020B,
3.750%,
11/01/34,
(AMT),
(Mandatory
Put
6/01/28)
No
Opt.
Call
A+
746,753
3,750
South
Jersey
Transportation
Authority,
New
Jersey,
Transportation
System
Revenue
Bonds,
Refunding
Series
2014A,
5.000%,
11/01/39
11/24
at
100.00
Baa2
3,763,800
Total
New
Jersey
6,907,620
New
Mexico
-
1.0%
(0.7%
of
Total
Investments)
7,000
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
6,307,700
Total
New
Mexico
6,307,700
New
York
-
13.2%
(9.8%
of
Total
Investments)
1,240
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023,
7.250%,
6/01/55,
144A
12/30
at
100.00
N/R
1,241,203
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
5,000
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
$
3,927,800
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1:
1,310
5.000%,
6/01/40,
144A
12/30
at
100.00
N/R
1,071,082
3,000
5.000%,
6/01/55,
144A
12/30
at
100.00
N/R
2,170,860
10,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Catholic
Health
System
Obligated
Group
Series
2019A,
4.000%,
7/01/45
7/29
at
100.00
Caa2
7,144,100
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B:
7,630
5.000%,
7/01/32
7/26
at
100.00
Baa2
7,846,997
1,095
5.000%,
7/01/35
7/26
at
100.00
Baa3
1,121,204
10,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2014D-1,
5.250%,
11/15/44
11/24
at
100.00
BBB+
10,075,900
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2023
Series
A-1:
2,785
5.250%,
8/01/42
8/32
at
100.00
Aa1
3,160,892
4,640
5.000%,
8/01/43
8/32
at
100.00
Aa1
5,104,510
3,005
5.000%,
8/01/44
8/32
at
100.00
Aa1
3,284,856
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
1:
1,000
5.000%,
8/01/34
8/33
at
100.00
AA
1,186,080
1,000
5.000%,
8/01/35
8/33
at
100.00
AA
1,172,720
2,500
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2023
Series
E-1,
5.250%,
4/01/44
4/33
at
100.00
AA
2,827,525
3,530
New
York
State
Thruway
Authority,
State
Personal
Income
Tax
Revenue
Bonds,
Bidding
Group
1
Series
2022A,
5.000%,
3/15/41
9/32
at
100.00
AA+
3,942,551
3,500
New
York
State
Urban
Development
Corporation,
State
Personal
Income
Tax
Revenue
Bonds,
General
Purpose,
Series
2022A,
5.000%,
3/15/45
9/32
at
100.00
Aa1
3,851,575
180
New
York
Transportation
Development
Corporation,
New
York,
Facility
Revenue
Bonds,
Thruway
Service
Areas
Project,
Series
2021,
4.000%,
10/31/41,
(AMT)
10/31
at
100.00
BBB-
164,210
2,500
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.000%,
7/01/41,
(AMT)
7/24
at
100.00
Baa2
2,499,250
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020:
10,240
5.250%,
8/01/31,
(AMT)
8/30
at
100.00
B+
10,636,390
3,400
5.375%,
8/01/36,
(AMT)
8/30
at
100.00
B+
3,446,444
320
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2021,
2.250%,
8/01/26,
(AMT)
No
Opt.
Call
B
308,179
1,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
4.000%,
10/01/30,
(AMT)
No
Opt.
Call
BB+
996,440
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023:
2,250
5.000%,
7/15/34,
(AMT)
7/33
at
100.00
AA-
2,540,408
565
5.000%,
7/15/35,
(AMT)
7/33
at
100.00
AA-
633,512
490
5.000%,
7/15/37,
(AMT)
7/33
at
100.00
AA-
538,520
450
5.000%,
7/15/38,
(AMT)
7/33
at
100.00
AA-
491,071
590
5.000%,
7/15/39,
(AMT)
7/33
at
100.00
AA-
641,749
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
New
York
(continued)
$
3,960
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Taxable
Series
2007B,
5.693%,
1/01/28
-
SYNCORA
GTY
Insured,
144A
No
Opt.
Call
C
$
3,787,621
Total
New
York
85,813,649
North
Carolina
-
0.4%
(0.3%
of
Total
Investments)
Greater
Asheville
Regional
Airport
Authority,
North
Carolina,
Airport
System
Revenue
Bonds,
Series
2023:
335
5.250%,
7/01/41
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
363,495
340
5.250%,
7/01/43
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
366,615
1,365
5.250%,
7/01/48
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
1,461,014
370
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
The
Forest
at
Duke,
Inc.,
Series
2021,
4.000%,
9/01/46
9/28
at
103.00
BBB-
300,422
Total
North
Carolina
2,491,546
Ohio
-
3.4%
(2.5%
of
Total
Investments)
2,115
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020A-2
Class
1,
4.000%,
6/01/48
6/30
at
100.00
BBB+
1,949,395
675
Butler
County,
Ohio, Hospital
Facilities
Revenue
Bonds,
UC
Health,
Refunding
Series
2017,
4.000%,
11/15/23
No
Opt.
Call
Baa3
673,326
1,000
Columbus-Franklin
County
Finance
Authority,
Ohio,
Tax
Increment
Financing
Revenue
Bonds,
Bridge
Park
D
Block
Project,
Series
2019A-
1,
5.000%,
12/01/51
6/29
at
100.00
N/R
966,130
1,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
3.375%,
8/01/29
No
Opt.
Call
BBB-
910,300
1,000
Ohio
State,
Hospital
Revenue
Bonds,
University
Hospitals
Health
System,
Inc.,
Fixed
Interest
Rate
Series
2020A,
3.000%,
1/15/45
-
BAM
Insured
1/30
at
100.00
A2
780,720
21,000
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
15,708,210
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
21,906,351
Pennsylvania
-
4.6%
(3.4%
of
Total
Investments)
1,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2019A,
4.000%,
7/15/37
7/29
at
100.00
A
999,360
930
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
956,551
500
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-
368,010
1,000
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2017,
5.125%,
10/15/41,
144A
10/27
at
100.00
BB
907,910
2,000
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
2,005,900
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Pennsylvania
(continued)
$
9,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-2,
5.000%,
2/15/39
2/27
at
100.00
A2
$
9,285,930
3,000
Montgomery
County
Industrial
Development
Authority,
Pennsylvania,
Facilities
Revenue
Bonds,
Constellation
Energy
Generation
LLC
Project,
Refunding
Series
2023A,
4.100%,
10/01/53,
(Mandatory
Put
4/03/28)
No
Opt.
Call
BBB
3,054,750
1,300
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
(4),(7)
No
Opt.
Call
N/R
810,875
2,960
Pennsylvania
Economic
Development
Financing
Authority,
Parking
System
Revenue
Bonds,
Capitol
Region
Parking
System,
Junior
Guaranteed
Series
2013B,
0.000%,
1/01/45
-
BAM
Insured
No
Opt.
Call
A3
1,044,910
2,040
Pennsylvania
Economic
Development
Financing
Authority,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2017A,
4.000%,
11/15/42
11/27
at
100.00
A
1,976,066
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2022B:
30
5.250%,
12/01/41
12/32
at
100.00
A1
33,508
485
5.250%,
12/01/42
12/32
at
100.00
A1
539,820
1,965
5.250%,
12/01/47
12/32
at
100.00
A1
2,160,282
5,000
5.250%,
12/01/52
12/32
at
100.00
A1
5,459,050
Total
Pennsylvania
29,602,922
Puerto
Rico
-
3.2%
(2.3%
of
Total
Investments)
409
HTA
Claas
6,
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds,
Series
2022,
5.250%,
7/01/38
8/23
at
100.00
N/R
409,449
6,500
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B,
4.000%,
7/01/42,
144A
7/31
at
100.00
N/R
5,732,415
8,000
Puerto
Rico
Electric
Power
Authority,
Power
Revenue
Bonds,
Series
2010XX,
5.250%,
7/01/40
(4)
8/23
at
100.00
D
3,000,000
3,065
Puerto
Rico
Highway
and
Transportation
Authority,
Restructured
Toll
Revenue
Bonds,
Series
2022A,
5.000%,
7/01/62
7/32
at
100.00
N/R
3,019,025
2,150
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1,
4.550%,
7/01/40
7/28
at
100.00
N/R
2,083,758
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1:
1,030
0.000%,
7/01/33
7/31
at
89.94
N/R
628,767
0
(8)
4.000%,
7/01/35
7/31
at
103.00
N/R
59
1,117
4.000%,
7/01/37
7/31
at
103.00
N/R
1,003,980
839
4.000%,
7/01/41
7/31
at
103.00
N/R
722,612
873
4.000%,
7/01/46
7/31
at
103.00
N/R
729,219
6,474
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
No
Opt.
Call
N/R
3,326,182
Total
Puerto
Rico
20,655,466
South
Carolina
-
0.3%
(0.2%
of
Total
Investments)
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Columbia
College,
Refunding
Series
2020A,
5.625%,
10/01/40
10/27
at
103.00
N/R
913,080
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A,
5.000%,
11/15/55,
144A
11/26
at
100.00
N/R
859,210
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
South
Carolina
(continued)
$
250
South
Carolina
Jobs-Economic
Development
Authority,
Retirement
Community
Revenue
Notes,
Kiawah
Life
Plan
Village,
Inc.
Project,
Series
2021A,
8.750%,
7/01/25
8/23
at
100.00
N/R
$
296,497
Total
South
Carolina
2,068,787
Tennessee
-
4.4%
(3.3%
of
Total
Investments)
7,250
Johnson
City
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Ballad
Health,
Long
Term
Interest
Rate
Series
2023B,
5.000%,
7/01/33
No
Opt.
Call
A-
8,196,778
20,000
The
Tennessee
Energy
Acquisition
Corporation,
Gas
Project
Revenue
Bonds,
Series
2023A-1,
5.000%,
5/01/53,
(Mandatory
Put
5/01/28)
2/28
at
100.22
A2
20,611,000
Total
Tennessee
28,807,778
Texas
-
17.5%
(12.9%
of
Total
Investments)
500
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
Second-Lien
Series
2021B,
5.000%,
10/01/50,
144A
10/31
at
100.00
N/R
430,120
755
Bexar
County,
Texas,
Venue
Project
Revenue
Bonds,
Taxable
Refunding
Combined
Venue
Tax
Series
2021,
3.031%,
8/15/41
-
AGM
Insured
8/31
at
100.00
A-
557,265
1,000
Central
Texas
Regional
Mobility
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021D,
4.000%,
1/01/44
7/31
at
100.00
A3
947,760
225
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project,
Special
Assessment
Revenue
Bonds,
Series
2022,
4.750%,
9/15/32,
144A
No
Opt.
Call
N/R
219,141
4,605
Dallas,
Texas,
General
Obligation
Bonds,
Refunding
and
Improvement
Series
2023A,
5.000%,
2/15/43
2/33
at
100.00
AA-
5,104,689
1,000
Flower
Mound,
Texas,
Special
Assessment
Revenue
Bonds,
River
Walk
Public
Improvement
District
1,
Refunding
Series
2021,
3.500%,
9/01/36,
144A
9/31
at
100.00
N/R
832,100
1,280
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B,
4.750%,
11/01/42
8/23
at
100.00
Baa2
1,246,963
1,000
Harris
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
Energy
Transfer
LP
Project,
Marine
Terminal
Refunding
Series
2023,
4.050%,
11/01/50,
(Mandatory
Put
6/01/33)
3/33
at
100.00
BBB-
1,007,550
3,990
Harris
County-Houston
Sports
Authority,
Texas,
Revenue
Bonds,
Junior
Lien
Series
2001H,
0.000%,
11/15/24
-
NPFG
Insured
No
Opt.
Call
BB+
3,783,517
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A:
4,500
5.000%,
7/01/32
-
AGM
Insured,
(AMT)
No
Opt.
Call
A1
4,999,995
3,330
5.000%,
7/01/33
-
AGM
Insured,
(AMT)
No
Opt.
Call
A1
3,732,164
3,500
5.000%,
7/01/34
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
3,904,110
1,250
5.000%,
7/01/38
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
1,350,875
1,250
5.250%,
7/01/39
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
1,378,250
2,500
5.250%,
7/01/40
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
2,744,100
2,500
5.250%,
7/01/41
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
2,736,025
1,250
5.250%,
7/01/42
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
1,365,125
1,715
5.250%,
7/01/43
-
AGM
Insured,
(AMT)
7/33
at
100.00
A1
1,863,691
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds,
Refunding
Series
2021:
5,610
4.000%,
11/01/38
-
AGM
Insured,
(AMT)
11/31
at
100.00
A
5,499,651
1,000
4.000%,
11/01/39
-
AGM
Insured,
(AMT)
11/31
at
100.00
A
973,510
7,050
Lower
Colorado
River
Authority,
Texas,
Revenue
Bonds,
Refunding
Series
2023B,
5.000%,
5/15/39,
(Mandatory
Put
5/15/28)
2/28
at
100.00
A
7,539,763
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
500
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021,
4.125%,
9/01/41,
144A
9/31
at
100.00
N/R
$
435,080
1,500
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
AEP
Texas
Central
Company
Project,
Remarketing,
Series
2008-1,
4.000%,
6/01/30
8/23
at
100.00
Baa2
1,494,555
625
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement District
Improvement
Area
3
Project,
Series
2021,
3.625%,
9/15/41,
144A
9/31
at
100.00
N/R
496,213
500
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023,
5.500%,
9/01/43,
144A
,
(WI/DD)
9/33
at
100.00
N/R
496,970
4,175
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Southwest
Preparatory
School,
Series
2020A,
5.000%,
8/15/50,
144A
8/25
at
103.00
BB+
3,465,041
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1:
6,795
5.250%,
1/01/42
1/28
at
103.00
N/R
5,164,812
6,465
5.500%,
1/01/57
1/28
at
103.00
N/R
4,630,750
Pflugerville
Independent
School
District,
Travis
and
Williamson
Counties,
Texas,
General
Obligation
Bonds,
School
Building
Series
2023A:
1,485
4.000%,
2/15/42
2/33
at
100.00
AA+
1,464,106
2,075
4.000%,
2/15/44
2/33
at
100.00
AA+
2,021,071
Pflugerville,
Texas,
Certificates
of
Obligation,
Combination
Tax
and
Revenue
Series
2023:
795
5.000%,
8/01/32
No
Opt.
Call
Aa1
930,023
1,460
5.000%,
8/01/33
8/32
at
100.00
Aa1
1,706,944
1,350
5.000%,
8/01/34
8/32
at
100.00
Aa1
1,573,331
1,860
5.000%,
8/01/35
8/32
at
100.00
Aa1
2,148,486
745
5.000%,
8/01/36
8/32
at
100.00
Aa1
851,639
450
5.000%,
8/01/37
8/32
at
100.00
Aa1
508,702
3,500
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B,
4.100%,
1/01/28,
144A
8/23
at
102.05
N/R
2,784,005
2,020
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Major
Improvement
Area
Project,
Series
2020,
5.375%,
9/15/40,
144A
9/30
at
100.00
N/R
1,976,893
2,000
Spring
Independent
School
District,
Hardin
County,
Texas,
Unlimited
Tax
School
Building
Bonds,
Series
2023,
4.000%,
8/15/52
8/33
at
100.00
AA-
1,933,860
450
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Taxable
Series
2021,
3.292%,
9/01/40
-
AGM
Insured
9/30
at
100.00
A1
335,291
Tarrant
County
Hospital
District,
Texas,
General
Obligation
Bonds,
Limited
Tax
Series
2023:
1,000
4.000%,
8/15/43
8/32
at
100.00
AA
976,480
2,165
4.250%,
8/15/48
8/32
at
100.00
AA
2,148,936
4,750
5.250%,
8/15/48
8/32
at
100.00
AA
5,239,012
1,500
5.250%,
8/15/53
8/32
at
100.00
AA
1,644,510
Texas
State,
General
Obligation
Bonds,
Water
Financial
Assistance
Bonds,
Economic
Distressed
Areas
Program
Series
2023C:
1,350
5.000%,
8/01/31
No
Opt.
Call
AAA
1,569,888
1,055
5.000%,
8/01/32
No
Opt.
Call
AAA
1,243,349
450
5.000%,
8/01/33
No
Opt.
Call
AAA
536,891
450
5.000%,
8/01/34
8/33
at
100.00
AAA
532,444
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Texas
(continued)
$
450
5.000%,
8/01/35
8/33
at
100.00
AAA
$
527,301
Texas
State,
General
Obligation
Bonds,
Water
Financial
Assistance
Bonds,
Series
2023A:
500
5.000%,
8/01/41
8/33
at
100.00
AAA
560,920
515
5.000%,
8/01/42
8/33
at
100.00
AAA
576,043
555
5.000%,
8/01/43
8/33
at
100.00
AAA
619,619
2,890
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2020,
4.000%,
10/15/45
10/30
at
100.00
AAA
2,840,610
650
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021,
4.000%,
10/15/51
10/31
at
100.00
AAA
628,056
6,915
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2022,
4.800%,
10/15/52
10/32
at
100.00
AAA
7,369,800
Total
Texas
113,647,995
Utah
-
0.8%
(0.6%
of
Total
Investments)
500
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.125%,
2/01/41,
144A
2/26
at
103.00
N/R
392,860
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A:
715
5.000%,
7/01/34,
(AMT)
,
(WI/DD)
7/33
at
100.00
A+
799,449
645
5.250%,
7/01/43,
(AMT)
,
(WI/DD)
7/33
at
100.00
A2
703,108
970
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A,
5.125%,
7/15/51,
144A
1/25
at
102.00
N/R
745,687
2,540
Wohali
Public
Infrastructure
District
1,
Utah,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023,
7.000%,
12/01/42,
144A
9/28
at
103.00
N/R
2,544,394
Total
Utah
5,185,498
Virgin
Islands
-
0.5%
(0.4%
of
Total
Investments)
2,365
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/32
No
Opt.
Call
N/R
2,382,123
1,000
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.125%,
10/01/42,
144A
10/29
at
104.00
N/R
958,040
Total
Virgin
Islands
3,340,163
Virginia
-
1.3%
(1.0%
of
Total
Investments)
2,790
Virginia
College
Building
Authority,
Educational
Facilities
Revenue
Bonds,
21st
Century
Collage
&
Equipment
Programs,
Series
2023A,
5.250%,
2/01/42
2/33
at
100.00
AA+
3,186,682
Virginia
Port
Authority,
Commonwealth
Port
Fund
Revenue
Bonds,
Series
2023A:
270
5.000%,
7/01/41
7/33
at
100.00
AA+
307,994
430
5.000%,
7/01/42
7/33
at
100.00
AA+
488,287
525
5.000%,
7/01/43
7/33
at
100.00
AA+
595,051
2,000
Virginia
Small
Business
Financing
Authority,
Private
Activity
Revenue
Bonds,
Transform
66
P3
Project,
Senior
Lien
Series
2017,
5.000%,
12/31/47,
(AMT)
6/27
at
100.00
Baa3
2,024,680
770
Virginia
Small
Business
Financing
Authority,
Revenue
Bonds,
95
Express
Lanes
LLC
Project,
Refunding
Senior
Lien
Series
2022,
5.000%,
12/31/47,
(AMT)
12/32
at
100.00
Baa1
794,794
1,000
Virginia
Small
Business
Financing
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Virginia
Beach
Oceanfront
South
Hotel
Project,
Senior
Series
2020A-1,
8.000%,
10/01/43,
144A
10/30
at
120.40
N/R
1,034,190
Total
Virginia
8,431,678
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Washington
-
1.2%
(0.9%
of
Total
Investments)
$
2,145
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D,
5.000%,
10/01/41
10/24
at
100.00
A
$
2,139,251
1,915
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Refunding
Series
2021B,
4.000%,
10/01/42,
(Mandatory
Put
10/01/30)
No
Opt.
Call
A
1,921,396
3,500
Washington
State,
General
Obligation
Bonds,
Various
Purpose
Series
2022A-2,
5.000%,
8/01/40
8/31
at
100.00
AA+
3,890,740
Total
Washington
7,951,387
West
Virginia
-
1.0%
(0.7%
of
Total
Investments)
3,890
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020,
7.625%,
12/01/40,
144A
12/27
at
103.00
N/R
3,138,297
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
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A:
1,035
5.000%,
6/01/41
6/33
at
100.00
A
1,107,781
1,000
5.000%,
6/01/43
6/33
at
100.00
A
1,063,610
Total
West
Virginia
6,296,188
Wisconsin
-
3.9%
(2.9%
of
Total
Investments)
3,000
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A,
5.500%,
12/01/32,
144A
12/26
at
100.00
N/R
2,507,820
6,350
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A,
5.000%,
1/01/56,
144A
1/28
at
100.00
N/R
5,328,920
200
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A,
6.125%,
6/15/57
6/29
at
101.00
N/R
185,912
1,000
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A,
5.000%,
6/01/56,
144A
6/28
at
100.00
N/R
812,280
1,000
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021,
5.000%,
8/01/51,
144A
8/28
at
100.00
N/R
806,630
Public
Finance
Authority
of
Wisconsin,
Health
Care
Facilities
Revenue
Bonds,
Appalachian
Regional
Healthcare
System
Obligated
Group,
Series
2021A:
300
5.000%,
7/01/35
1/31
at
100.00
BBB
320,094
190
5.000%,
7/01/38
1/31
at
100.00
BBB
196,830
2,000
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Senior
Lien
Series
2022A,
5.000%,
2/01/52
2/32
at
100.00
BBB-
1,994,720
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B:
1,670
5.625%,
2/01/46,
144A
2/32
at
100.00
N/R
1,678,434
2,000
6.000%,
2/01/62,
144A
2/32
at
100.00
N/R
2,033,180
5,000
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017,
7.000%,
12/01/50,
144A
12/27
at
100.00
N/R
4,560,500
1,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022B,
4.000%,
10/01/46,
(Mandatory
Put
10/01/30)
No
Opt.
Call
A
1,010,810
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2023
(Unaudited)
Principal
Amount
(000)
Description
(1)
Optional
Call
Provisions
(2)
Ratings
(3)
Value
Wisconsin
(continued)
$
2,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
4.000%,
7/01/41,
(AMT)
7/31
at
100.00
N/R
$
1,513,280
100
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B,
15.000%,
8/31/23
(4),(7)
4/23
at
105.00
N/R
15,250
2,500
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2017A,
4.000%,
4/01/39
4/27
at
100.00
AA
2,460,825
Total
Wisconsin
25,425,485
Total
Municipal
Bonds
(cost
$923,376,387)
868,758,935
Principal
Amount
(000)
Description
(1)
Coupon
Maturity
Ratings
(3)
Value
X
–
CORPORATE
BONDS
-
1
.3
%
(
1
.0
%
of
Total
Investments)
X
8,578,594
Health
Care
Providers
&
Services
-
1.2%
(0.9%
of
Total
Investments)
$
2,750
Care
New
England
Health
System
5.500%
9/01/26
B+
$
2,491,390
4,363
Toledo
Hospital/The
5.325%
11/15/28
BB-
3,544,938
3,000
Toledo
Hospital/The
6.015%
11/15/48
BB-
2,058,210
Total
Health
Care
Providers
&
Services
8,094,538
Real
Estate
Management
&
Development
-
0.1%
(0.1%
of
Total
Investments)
504
Benloch
Ranch
Improvement
Association
No
1,
144A
(7)
9.750%
12/01/39
N/R
484,056
Total
Real
Estate
Management
&
Development
484,056
Total
Corporate
Bonds
(cost
$8,631,868)
8,578,594
Shares
Description
(1)
Value
X
–
COMMON
STOCKS
-
0
.3
%
(
0
.2
%
of
Total
Investments)
X
1,808,669
Electric
Utilities
-
0.3%
(0.2%
of
Total
Investments)
9,345
Talen
Energy
Corp
(9)
$
486,641
25,387
Talen
Energy
Supply
LLC
(9)
1,322,028
Total
Electric
Utilities
1,808,669
Total
Common
Stocks
(cost
$1,041,333)
1,808,669
Principal
Amount
(000)
Description
(1)
Coupon
(10)
Reference
Rate
(10)
Spread
(10)
Maturity
(11)
Ratings
(3)
Value
–
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
(
0
.0
%
of
Total
Investments)
(10)
X
200,000
Trading
Companies
&
Distributors
-
0.0%
(0.0%
of
Total
Investments)
$
200
KDC
Agribusiness
Fairless
Hills
LLC
(7),(12)
12.000%
N/A
N/A
9/17/23
N/R
$
200,000
Total
Trading
Companies
&
Distributors
200,000
Total
Variable
Rate
Senior
Loan
Interests
(cost
$200,000)
200,000
Total
Long-Term
Investments
(cost
$933,249,588)
879,346,198
Floating
Rate
Obligations
-
(0.1)%
(
650,000
)
MFP
Shares,
Net
-
(36.9)%(13)
(
239,598,794
)
Other
Assets
&
Liabilities,
Net
- 1.5%
10,012,760
Net
Assets
Applicable
to
Common
Shares
-
100%
$
649,110,164
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:
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
867,932,810
$
826,125
$
868,758,935
Corporate
Bonds
–
8,094,538
484,056
8,578,594
Common
Stocks
–
1,808,669
–
1,808,669
Variable
Rate
Senior
Loan
Interests
–
–
200,000
200,000
Total
$
–
$
877,836,017
$
1,510,181
$
879,346,198
*
Refer
to
the
Fund's
Portfolio
of
Investments
for
securities
classified
as
Level
3.
(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)
Backed
by
an
escrow
or
trust
containing
sufficient
U.S.
Government
or
U.S.
Government
agency
securities,
which
ensure
the
timely
payment
of
principal
and
interest.
(6)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(7)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(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)
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.
(11)
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.
(12)
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
2021A,
10.000%,
12/01/31.
(13)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
27.2%.
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.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
WI/DD
Purchased
on
a
when-issued
or
delayed
delivery
basis.
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