Nuveen AMT-Free Quality Municipal Income Fund

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21213

Nuveen AMT-Free Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

Registrant’s telephone number, including area code:     312-917-7700    

Date of fiscal year end:       October 31      

Date of reporting period: July 31, 2018

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

 

 

Item 1. Schedule of Investments

 

 

NEA
Nuveen AMT-Free Quality Municipal Income Fund
Portfolio of Investments    July 31, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 158.6% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 158.6% (100.0% of Total Investments)        
    Alabama – 0.9% (0.6% of Total Investments)        
$ 4,250   Infirmary Health System Special Care Facilities Financing Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health System, Inc., Series 2016A, 5.000%, 2/01/41   2/26 at 100.00 BBB+ $4,597,310
20,675   Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46   No Opt. Call A3 24,853,831
4,900   Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.875%, 4/15/45   4/25 at 100.00 N/R 4,900,931
29,825   Total Alabama       34,352,072
    Alaska – 0.7% (0.4% of Total Investments)        
    Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:        
17,040   5.000%, 6/01/32   9/18 at 100.00 B3 17,139,002
10,070   5.000%, 6/01/46   9/18 at 100.00 B3 10,128,507
27,110   Total Alaska       27,267,509
    Arizona – 2.4% (1.5% of Total Investments)        
1,460   Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30   3/22 at 100.00 A- 1,558,360
1,025   Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Academies of Math & Science Projects, Series 2017A, 5.000%, 7/01/51   7/27 at 100.00 AA- 1,123,728
    Arizona State, Certificates of Participation, Series 2010A:        
2,800   5.250%, 10/01/28  –  AGM Insured   10/19 at 100.00 Aa3 2,911,692
3,500   5.000%, 10/01/29  –  AGM Insured   10/19 at 100.00 Aa3 3,628,345
7,500   Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/29  –  AGC Insured   1/20 at 100.00 A1 7,827,000
7,115   Lake Havasu City, Arizona, Wastewater System Revenue Bonds, Refunding Senior Lien Series 2015B, 5.000%, 7/01/43  –  AGM Insured   7/25 at 100.00 A2 7,889,539
    Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A:        
5,135   4.000%, 1/01/36   1/27 at 100.00 AA- 5,339,630
10,000   5.000%, 1/01/38 (UB) (4)   1/27 at 100.00 AA- 11,310,400
10,780   Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 A+ (5) 11,453,211
    Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B:        
6,545   5.500%, 7/01/37  –  FGIC Insured   No Opt. Call AA 8,558,700
10,000   5.500%, 7/01/40  –  FGIC Insured   No Opt. Call AA 13,318,700
1

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Arizona (continued)        
$ 3,000   Queen Creek, Arizona, Excise Tax & State Shared Revenue Obligation Bonds, Series 2018A, 5.000%, 8/01/47   8/28 at 100.00 AA $3,450,600
11,320   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37   No Opt. Call BBB+ 13,460,386
80,180   Total Arizona       91,830,291
    Arkansas – 0.1% (0.1% of Total Investments)        
5,080   Independence County, Arkansas, Hydroelectric Power Revenue Bonds, Series 2003, 5.350%, 5/01/28  –  ACA Insured   10/18 at 100.00 N/R 4,678,782
    California – 13.2% (8.3% of Total Investments)        
22,880   Alameda Corridor Transportation Authority, California, Revenue Bonds, Senior Lien Series 1999A, 0.000%, 10/01/32  –  NPFG Insured   No Opt. Call A- 13,518,190
4,225   Alameda Unified School District, Alameda County, California, General Obligation Bonds, Series 2005B, 0.000%, 8/01/28  –  AGM Insured   No Opt. Call AA 3,131,021
15,870   Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/20  –  AGM Insured   No Opt. Call A2 15,317,565
3,450   Antelope Valley Joint Union High School District, Los Angeles and Kern Counties, California, General Obligation Bonds, Series 2004B, 0.000%, 8/01/29  –  NPFG Insured   No Opt. Call A1 2,373,497
    Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2009F-1:        
2,500   5.125%, 4/01/39 (Pre-refunded 4/01/19)   4/19 at 100.00 Aa3 (5) 2,564,825
2,500   5.625%, 4/01/44 (Pre-refunded 4/01/19)   4/19 at 100.00 Aa3 (5) 2,573,050
    Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4:        
5,000   5.000%, 4/01/38 (Pre-refunded 4/01/23)   4/23 at 100.00 AA- (5) 5,736,700
6,500   5.250%, 4/01/53 (Pre-refunded 4/01/23)   4/23 at 100.00 A1 (5) 7,530,250
10,000   Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2014F-1, 5.000%, 4/01/54   4/24 at 100.00 Aa3 11,039,700
8,000   Beverly Hills Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2009, 0.000%, 8/01/33   No Opt. Call AA+ 4,947,600
    Burbank Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2015A:        
2,250   0.000%, 8/01/32   2/25 at 100.00 AA- 1,983,983
1,350   0.000%, 8/01/33   2/25 at 100.00 AA- 1,186,610
7,845   California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36   12/18 at 100.00 B2 7,898,581
    California Department of Water Resources, Central Valley Project Water System Revenue Bonds, Series 2009-AF:        
2,090   5.000%, 12/01/29 (Pre-refunded 12/01/18)   12/18 at 100.00 Aa1 (5) 2,116,000
2,910   5.000%, 12/01/29 (Pre-refunded 12/01/18)   12/18 at 100.00 AA+ (5) 2,946,200
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
    California Educational Facilities Authority, Revenue Refunding Bonds, Loyola Marymount University, Series 2001A:        
$ 3,255   0.000%, 10/01/23  –  NPFG Insured   No Opt. Call A2 $2,880,642
5,890   0.000%, 10/01/24  –  NPFG Insured   No Opt. Call A2 5,019,929
7,615   0.000%, 10/01/25  –  NPFG Insured   No Opt. Call A2 6,235,238
1,350   0.000%, 10/01/39  –  NPFG Insured   No Opt. Call A2 585,077
3,330   California Health Facilities Financing Authority, Refunding Revenue Bonds, Stanford Hospital and Clinics, Series 2008A-2. RMKT, 5.250%, 11/15/40 (Pre-refunded 11/15/21)   11/21 at 100.00 AA- (5) 3,720,909
    California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital, Series 2012A:        
3,000   5.000%, 8/15/51 (UB) (4)   8/22 at 100.00 A+ 3,271,740
10,000   5.000%, 8/15/51   8/22 at 100.00 A+ 10,905,800
2,550   California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2009B, 5.500%, 10/01/39   10/19 at 100.00 AA- 2,663,858
530   California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37   7/23 at 100.00 AA- 587,277
1,710   California Health Facilities Financing Authority, Revenue Bonds, Scripps Health, Series 2012A, 5.000%, 11/15/40   11/21 at 100.00 Aa3 1,876,332
    California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049:        
485   8.452%, 8/15/51 (IF),144A (4)   8/22 at 100.00 AA- 577,460
525   8.458%, 8/15/51 (IF),144A (4)   8/22 at 100.00 AA- 625,175
1,285   8.458%, 8/15/51 (IF),144A (4)   8/22 at 100.00 AA- 1,530,191
1,500   California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A, 5.000%, 7/01/42   7/27 at 100.00 BBB- 1,642,095
2,330   California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 Baa2 (5) 2,512,416
965   California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/47   10/26 at 100.00 BBB- 1,032,560
2,930   California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2013I, 5.000%, 11/01/38   11/23 at 100.00 A+ 3,289,540
    California State, Economic Recovery Revenue Bonds, Refunding Series 2009A:        
1,460   5.250%, 7/01/21 (Pre-refunded 7/01/19)   7/19 at 100.00 AA+ (5) 1,512,472
2,540   5.250%, 7/01/21 (Pre-refunded 7/01/19)   7/19 at 100.00 AA+ (5) 2,631,288
5,000   California State, General Obligation Bonds, Refunding Various Purpose Series 2017, 4.000%, 8/01/36   8/26 at 100.00 AA- 5,305,650
5   California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31  –  AMBAC Insured   10/18 at 100.00 AA- 5,015
20,000   California State, General Obligation Bonds, Various Purpose Series 2009, 6.000%, 11/01/39   11/19 at 100.00 AA- 21,087,000
    California State, General Obligation Bonds, Various Purpose Series 2010:        
7,000   5.250%, 3/01/30   3/20 at 100.00 AA- 7,414,050
4,250   5.250%, 11/01/40   11/20 at 100.00 AA- 4,577,250
3

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 10,000   California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41   10/21 at 100.00 AA- $10,921,500
6,270   California Statewide Communities Development Authority, Revenue Bonds, Cottage Health System Obligated Group, Series 2010, 5.250%, 11/01/30   11/20 at 100.00 A+ 6,709,652
10,000   California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42 (Pre-refunded 8/15/20)   8/20 at 100.00 A+ (5) 10,901,100
3,000   California Statewide Community Development Authority, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008C, 5.625%, 7/01/35   1/19 at 100.00 A3 3,011,580
    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:        
3,895   5.750%, 7/01/30   10/18 at 100.00 CCC 3,833,459
5,000   5.750%, 7/01/35   10/18 at 100.00 CCC 4,913,400
6,000   5.500%, 7/01/39   10/18 at 100.00 CCC 5,889,420
10,445   Castaic Lake Water Agency, California, Certificates of Participation, Water System Improvement Project, Series 1999a, 0.000%, 8/01/29  –  AMBAC Insured   No Opt. Call AA 7,295,519
4,775   Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2001A, 0.000%, 8/01/25  –  NPFG Insured (ETM)   No Opt. Call Baa2 (5) 4,054,882
3,330   Contra Costa Community College District, Contra Costa County, California, General Obligation Bonds, Election of 2006, Series 2013, 5.000%, 8/01/38   8/23 at 100.00 AA+ 3,718,811
7,775   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A, 0.000%, 1/15/34  –  AGM Insured   No Opt. Call BBB- 4,241,729
    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A:        
910   0.000%, 1/15/42 (6)   1/31 at 100.00 BBB- 820,001
3,350   5.750%, 1/15/46   1/24 at 100.00 BBB- 3,797,560
8,350   6.000%, 1/15/49   1/24 at 100.00 BBB- 9,669,467
30,000   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 0.000%, 1/01/21 (ETM)   No Opt. Call AA+ (5) 28,833,300
3,120   Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27  –  AMBAC Insured   9/18 at 100.00 A 3,128,892
3,915   Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/26  –  AGM Insured   No Opt. Call A1 3,173,421
10,000   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37   6/22 at 100.00 B3 10,453,300
2,850   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47 (Pre-refunded 8/30/18)   8/18 at 100.00 B3 (5) 2,860,716
    Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1:        
9,705   5.000%, 6/01/47   6/22 at 100.00 N/R 9,973,052
10,170   5.250%, 6/01/47   6/22 at 100.00 N/R 10,583,817
3,850   Grossmont Healthcare District, California, General Obligation Bonds, Series 2011B, 6.125%, 7/15/40 (Pre-refunded 7/15/21)   7/21 at 100.00 Aaa (5) 4,350,461
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 5,000   Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/32  –  FGIC Insured   No Opt. Call AA- $3,093,400
3,040   Kern Community College District, California, General Obligation Bonds, Safety, Repair & Improvement, Election 2002 Series 2006, 0.000%, 11/01/23  –  AGM Insured   No Opt. Call AA 2,699,034
1,500   Lincoln Unified School District, Placer County, California, Community Facilities District 1, Special Tax Bonds, Series 2005, 0.000%, 9/01/26  –  AMBAC Insured   No Opt. Call N/R 1,103,955
295   Los Angeles Department of Water and Power, California, Electric Plant Revenue Bonds, Second Series 1993, 4.750%, 10/15/20 (ETM)   No Opt. Call N/R (5) 295,699
995   Los Angeles Department of Water and Power, California, Electric Plant Revenue Bonds, Series 1994, 5.375%, 2/15/34 (ETM)   No Opt. Call N/R (5) 998,144
2,495   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2009A, 5.375%, 7/01/34   1/19 at 100.00 Aa2 2,537,116
10,000   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A, 5.000%, 7/01/41   1/21 at 100.00 Aa2 10,718,100
2,490   Madera Unified School District, Madera County, California, General Obligation Bonds, Election 2002 Series 2005, 0.000%, 8/01/27  –  NPFG Insured   No Opt. Call Baa2 1,872,978
10,335   Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (6)   8/35 at 100.00 AA 8,477,180
5,500   M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39   No Opt. Call BBB+ 7,782,335
650   Mt. Diablo Hospital District, California, Insured Hospital Revenue Bonds, Series 1993A, 5.125%, 12/01/23  –  AMBAC Insured (ETM)   No Opt. Call N/R (5) 698,666
14,100   New Haven Unified School District, California, General Obligation Bonds, Refunding Series 2009, 0.000%, 8/01/34  –  AGC Insured   No Opt. Call Aa3 7,831,140
3,515   Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presybterian, Series 2011A, 5.875%, 12/01/30 (Pre-refunded 12/01/21)   12/21 at 100.00 N/R (5) 4,004,077
2,500   Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2002 Series 2005B, 0.000%, 8/01/29  –  FGIC Insured   No Opt. Call Aa3 1,738,625
4,460   Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Refunding Series 1995, 7.400%, 8/01/25  –  NPFG Insured   No Opt. Call Baa2 5,017,009
    Orange County Water District, California, Revenue Certificates of Participation, Series 2003B:        
1,490   5.000%, 8/15/34  –  NPFG Insured (ETM)   No Opt. Call Aa1 (5) 1,803,228
1,745   5.000%, 8/15/34 (Pre-refunded 8/15/32)  –  NPFG Insured   8/32 at 100.00 AAA (5) 2,206,605
1,000   Pajaro Valley Unified School District, Santa Cruz County, California, General Obligation Bonds, Series 2005B, 0.000%, 8/01/29  –  AGM Insured   No Opt. Call AA 704,540
5,000   Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/30 (Pre-refunded 11/01/20)   11/20 at 100.00 Ba1 (5) 5,499,900
2,000   Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/24  –  NPFG Insured   No Opt. Call BB+ 1,685,820
9,320   Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/33  –  AGC Insured   No Opt. Call BB+ 5,338,682
4,435   Pomona, California, GNMA/FHLMC Collateralized Single Family Mortgage Revenue Refunding Bonds, Series 1990B, 7.500%, 8/01/23 (ETM)   No Opt. Call AA+ (5) 5,040,910
5

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 1,800   Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011A, 0.000%, 8/01/28   No Opt. Call A1 $1,332,612
1,000   Rim of the World Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011C, 5.000%, 8/01/38 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 100.00 A2 (5) 1,099,110
760   Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/44   6/23 at 100.00 BBB- 840,332
4,385   San Bernardino, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Refunding Bonds, Series 1990A, 7.500%, 5/01/23 (ETM)   No Opt. Call AA+ (5) 4,978,685
2,250   San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 7.500%, 12/01/41   12/21 at 100.00 BB 2,505,735
1,830   San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 2015-XF0098, 17.393%, 8/01/39 (Pre-refunded 8/01/19), 144A (IF)   8/19 at 100.00 AA- (5) 2,134,274
4,000   San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43   5/23 at 100.00 A+ 4,395,960
    San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:        
10,595   5.000%, 1/15/44   1/25 at 100.00 BBB 11,550,351
32,725   5.000%, 1/15/50   1/25 at 100.00 BBB 35,557,349
7,210   San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/23  –  NPFG Insured   No Opt. Call Baa2 6,395,558
2,965   San Juan Unified School District, Sacramento County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/28  –  NPFG Insured   No Opt. Call A+ 2,223,394
4,455   San Mateo County Community College District, California, General Obligation Bonds, Series 2006A, 0.000%, 9/01/21  –  NPFG Insured   No Opt. Call AAA 4,224,766
4,005   San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/26  –  FGIC Insured   No Opt. Call AA+ 3,273,887
15,750   San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2012G, 0.000%, 8/01/39  –  AGM Insured   No Opt. Call AA 6,566,805
    San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015:        
5,000   0.000%, 8/01/46   No Opt. Call A1 1,255,750
6,570   0.000%, 8/01/47   No Opt. Call A1 1,552,557
1,840   Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 4.750%, 6/01/23   10/18 at 100.00 BB+ 1,849,918
2,630   Union Elementary School District, Santa Clara County, California, General Obligation Bonds, Series 2001B, 0.000%, 9/01/25  –  FGIC Insured   No Opt. Call Baa2 2,221,219
3,900   West Hills Community College District, California, General Obligation Bonds, School Facilities Improvement District 3, 2008 Election Series 2011, 6.500%, 8/01/41 (Pre-refunded 8/01/19)  –  AGM Insured   8/19 at 100.00 A2 (5) 4,457,076
549,120   Total California       509,050,256
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado – 9.9% (6.2% of Total Investments)        
$ 500   Blue Lake Metropolitan District No. 2 , Lochbuie, Colorado, Limited Tax General Obligation Bonds, Series 2016A, 5.750%, 12/01/46   12/21 at 103.00 N/R $507,365
    Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017:        
1,575   5.000%, 12/01/37   12/22 at 103.00 N/R 1,619,651
3,620   5.000%, 12/01/47   12/22 at 103.00 N/R 3,690,916
1,250   Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2013A, 5.375%, 12/01/33   12/23 at 100.00 BBB 1,393,238
115   Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014, 5.000%, 12/01/43   12/23 at 100.00 BB 122,053
1,700   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Skyview Academy Project, Series 2014, 5.375%, 7/01/44, 144A   7/24 at 100.00 BB 1,746,206
    Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017:        
2,005   5.000%, 6/01/34   6/27 at 100.00 BBB 2,231,665
4,615   5.000%, 6/01/35   6/27 at 100.00 BBB 5,125,650
7,205   5.000%, 6/01/36   6/27 at 100.00 BBB 7,990,633
8,715   5.000%, 6/01/37   6/27 at 100.00 BBB 9,637,483
2,190   5.000%, 6/01/42   6/27 at 100.00 BBB 2,413,095
10,000   5.000%, 6/01/47   6/27 at 100.00 BBB 10,923,900
6,350   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38   10/18 at 100.00 BBB+ 6,357,620
2,295   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/41   2/21 at 100.00 BBB+ 2,372,755
5,000   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45   1/23 at 100.00 BBB+ 5,346,400
5,000   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Children's Hospital Colorado Project, Series 2013A, 5.000%, 12/01/36   12/23 at 100.00 A+ 5,460,700
750   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Communities Project, Series 2012, 5.125%, 1/01/37   10/18 at 100.00 N/R 750,968
3,050   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016, 5.000%, 1/01/37   1/24 at 102.00 N/R 3,199,999
2,375   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2012, 5.000%, 12/01/42   6/22 at 100.00 BBB 2,511,159
1,000   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.625%, 6/01/43   6/23 at 100.00 BBB 1,099,700
750   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Frasier Meadows Project, Refunding & Improvement Series 2017A, 5.250%, 5/15/37   5/27 at 100.00 BB+ 820,575
1,500   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Refunding Series 2015B, 4.000%, 9/01/34   9/25 at 100.00 A3 1,532,460
25,750   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40   1/20 at 100.00 AA- 26,747,812
2,500   Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017, 5.000%, 12/31/51   12/24 at 100.00 BBB 2,708,325
7

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2018:        
$ 1,895   5.625%, 12/01/32   12/23 at 103.00 N/R $1,978,683
2,660   5.875%, 12/01/46   12/23 at 103.00 N/R 2,818,642
3,225   Colorado School of Mines Board of Trustees, Golden, Colorado, Institutional Enterprise Revenue Bonds, Series 2017B, 5.000%, 12/01/47   12/27 at 100.00 A+ 3,639,961
1,500   Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2016B, 5.000%, 3/01/41   3/27 at 100.00 A+ 1,704,765
4,000   Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2017E, 4.000%, 3/01/43   3/28 at 100.00 A+ 4,141,720
    Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2016:        
7,115   5.000%, 8/01/41  –  AGM Insured   8/26 at 100.00 A2 7,948,522
1,000   5.000%, 8/01/46  –  AGM Insured   8/26 at 100.00 A2 1,113,430
11,140   Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/37   11/22 at 100.00 A+ 12,222,140
12,900   Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43   11/23 at 100.00 A 14,331,771
    Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016:        
2,000   5.000%, 12/01/33   12/26 at 100.00 BBB- 2,247,900
3,000   5.000%, 12/01/34   12/26 at 100.00 BBB- 3,354,780
2,400   5.000%, 12/01/36   12/26 at 100.00 Baa2 2,647,128
1,800   5.000%, 12/01/40   12/26 at 100.00 BBB- 1,958,274
13,920   E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21  –  NPFG Insured   No Opt. Call BBB+ 13,012,694
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:        
6,200   0.000%, 9/01/22  –  NPFG Insured   No Opt. Call BBB+ 5,636,234
45,540   0.000%, 9/01/30  –  NPFG Insured   No Opt. Call BBB+ 29,558,648
16,635   0.000%, 9/01/32  –  NPFG Insured   No Opt. Call BBB+ 9,954,717
49,250   0.000%, 9/01/33  –  NPFG Insured   No Opt. Call BBB+ 28,165,582
    E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A:        
9,310   0.000%, 9/01/28  –  NPFG Insured   No Opt. Call BBB+ 6,627,510
2,900   0.000%, 9/01/34  –  NPFG Insured   No Opt. Call A 1,590,621
18,500   0.000%, 3/01/36  –  NPFG Insured   No Opt. Call BBB+ 9,511,775
    E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B:        
3,800   0.000%, 9/01/27  –  NPFG Insured   9/20 at 67.94 A 2,449,974
13,300   0.000%, 9/01/31  –  NPFG Insured   9/20 at 53.77 BBB+ 6,750,016
6,250   0.000%, 9/01/32  –  NPFG Insured   9/20 at 50.83 BBB+ 2,995,562
10,000   0.000%, 3/01/36  –  NPFG Insured   9/20 at 41.72 A 3,921,500
8

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Fort Lupton, Colorado, Water System Revenue Bonds, Refunding & Improvement Series 2017:        
$ 1,140   4.000%, 12/01/42  –  AGM Insured   12/27 at 100.00 AA $1,182,237
1,930   5.000%, 12/01/47  –  AGM Insured   12/27 at 100.00 AA 2,194,892
1,000   Lorson Ranch Metropolitan District 2, El Paso County, Colorado, Limited Tax General Obligation Bonds, Series 2016, 5.000%, 12/01/36   12/26 at 100.00 BBB+ 1,096,930
1,000   Louisville, Boulder County, Colorado, General Obligation Bonds, Limited Tax, Series 2017, 4.000%, 12/01/36   12/26 at 100.00 AA+ 1,055,810
1,085   North Range Metropolitan District No. 2 , In the City of Commerce City, Adams County, Colorado , Limited Tax General Obligation and Special Revenue and Improvement Bonds, Refunding Series 2017A, 5.750%, 12/01/47   12/22 at 103.00 N/R 1,094,581
1,245   Palisade Metropolitan District 2, Broomfield County, Colorado, General Obligation Limited Tax and Revenue Bonds, Series 2016, 4.375%, 12/01/31   12/21 at 103.00 N/R 1,216,029
17,735   Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45   12/25 at 100.00 A 19,756,435
2,640   Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20)  –  AGM Insured   12/20 at 100.00 A2 (5) 2,904,475
    Rampart Range Metropolitan District 1, Lone Tree, Colorado, Limited Tax Supported and Special Revenue Bonds, Refunding & Improvement Series 2017:        
4,215   5.000%, 12/01/42  –  AGM Insured   12/27 at 100.00 A2 4,739,388
8,150   5.000%, 12/01/47  –  AGM Insured   12/27 at 100.00 A2 9,129,385
630   Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31   6/20 at 100.00 A 667,309
    Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:        
15,000   6.500%, 1/15/30   7/20 at 100.00 Baa3 15,950,100
4,150   6.000%, 1/15/41   7/20 at 100.00 Baa3 4,344,884
3,250   Thompson Crossing Metropolitan District 2, Johnstown, Larimer County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2016B, 5.000%, 12/01/46  –  AGM Insured   12/26 at 100.00 AA 3,545,490
4,000   University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42   11/22 at 100.00 AA- 4,395,360
14,500   University of Colorado, Enterprise System Revenue Bonds, Series 2014A, 5.000%, 6/01/46 (Pre-refunded 6/01/24)   6/24 at 100.00 Aa1 (5) 16,830,440
2,500   Vista Ridge Metropolitan District, In the Town of Erie, Weld County, Colorado, General Obligation Refunding Bonds, Series 2016A, 4.000%, 12/01/36  –  BAM Insured   12/26 at 100.00 Baa1 2,565,875
2,175   Weld County School District RE1, Colorado, General Obligation Bonds, Series 2017, 5.000%, 12/15/30  –  AGM Insured   12/26 at 100.00 AA 2,515,692
436,395   Total Colorado       381,778,189
    Connecticut – 0.3% (0.2% of Total Investments)        
1,650   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2016Q-1, 5.000%, 7/01/46   7/26 at 100.00 A- 1,823,349
9

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Connecticut (continued)        
$ 7,165   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L, 5.000%, 7/01/45   7/25 at 100.00 A- $7,828,909
    Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2017I-1:        
500   5.000%, 7/01/34   7/27 at 100.00 A3 566,815
2,425   5.000%, 7/01/42   7/27 at 100.00 A3 2,711,247
11,740   Total Connecticut       12,930,320
    Delaware – 0.4% (0.2% of Total Investments)        
1,000   Delaware Health Facilities Authority, Revenue Bonds, Christiana Care Health Services Inc., Series 2010A, 5.000%, 10/01/40  –  NPFG Insured   10/20 at 100.00 Aa2 1,061,010
3,250   Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013, 5.000%, 7/01/32   7/23 at 100.00 BBB 3,465,215
9,070   Delaware Transportation Authority, Revenue Bonds, US 301 Project, Series 2015, 5.000%, 6/01/55   6/25 at 100.00 A1 9,924,394
13,320   Total Delaware       14,450,619
    District of Columbia – 1.1% (0.7% of Total Investments)        
1,250   District of Columbia Student Dormitory Revenue Bonds, Provident Group - Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/45   10/22 at 100.00 BB+ 1,250,850
107,000   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46   9/18 at 100.00 N/R 18,920,810
    District of Columbia, Revenue Bonds, Georgetown University, Refunding Series 2017:        
3,500   5.000%, 4/01/35   4/27 at 100.00 A 3,996,020
3,500   5.000%, 4/01/36   4/27 at 100.00 A 3,981,775
15,150   District of Columbia, Revenue Bonds, Georgetown University, Series 2007A, 5.000%, 4/01/40  –  AMBAC Insured   4/21 at 100.00 A 16,019,307
130,400   Total District of Columbia       44,168,762
    Florida – 6.9% (4.3% of Total Investments)        
2,800   Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2016, 5.000%, 9/01/46   9/23 at 100.00 BBB 2,904,020
2,000   Broward County, Florida, Water and Sewer System Revenue Bonds, Series 2009A, 5.250%, 10/01/34 (Pre-refunded 10/01/18)   10/18 at 100.00 AA+ (5) 2,013,080
11,000   Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 (Pre-refunded 10/01/21)  –  AGM Insured   10/21 at 100.00 A (5) 12,084,710
2,830   City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41   9/25 at 100.00 AA- 3,159,893
3,010   Cocoa, Florida, Water and Sewerage System Revenue Bonds, Refunding Series 2003, 5.500%, 10/01/23  –  AMBAC Insured   No Opt. Call AA 3,346,879
3,570   Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013, 6.125%, 11/01/43   11/23 at 100.00 BBB- 3,934,497
    Davie, Florida, Educational Facilities Revenue Bonds, Nova Southeastern University Project, Refunding Series 2013A:        
8,555   6.000%, 4/01/42   4/23 at 100.00 Baa1 9,667,834
4,280   5.625%, 4/01/43   4/23 at 100.00 Baa1 4,743,781
10

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
    Florida Municipal Loan Council, Revenue Bonds, Series 2000B:        
$ 1,040   0.000%, 11/01/25  –  NPFG Insured   No Opt. Call Baa2 $817,461
1,590   0.000%, 11/01/26  –  NPFG Insured   No Opt. Call Baa2 1,198,192
1,500   Florida Water Pollution Control Financing Corporation, Revolving Fund Revenue Bonds, Series 2009A, 5.000%, 1/15/29   1/19 at 100.00 AAA 1,523,445
    Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Lien Series 2015B:        
5,730   5.000%, 10/01/40   10/24 at 100.00 A+ 6,282,429
12,885   5.000%, 10/01/44   10/24 at 100.00 A+ 14,172,598
400   Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/30   10/22 at 100.00 A+ 439,632
1,530   Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Refunding Series 2011, 5.000%, 11/15/24   11/21 at 100.00 A2 1,663,018
2,500   Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Series 2015, 5.000%, 11/15/45   11/24 at 100.00 A2 2,727,500
    Miami Beach Redevelopment Agency, Florida, Tax Increment Revenue Bonds, City Center/Historic Convention Village, Series 2015A:        
3,810   5.000%, 2/01/40  –  AGM Insured   2/24 at 100.00 A1 4,271,429
19,145   5.000%, 2/01/44  –  AGM Insured   2/24 at 100.00 AA 21,422,106
    Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017:        
205   5.000%, 7/01/32   7/27 at 100.00 BBB 227,538
2,000   5.125%, 7/01/38   7/27 at 100.00 BBB 2,209,860
5,035   5.125%, 7/01/46   7/27 at 100.00 BBB 5,531,300
1,200   Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, Refunding Series 2011A, 6.000%, 2/01/30 (Pre-refunded 2/01/21)  –  AGM Insured   2/21 at 100.00 A+ (5) 1,325,328
7,390   Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2015A, 5.000%, 4/01/45   4/25 at 100.00 A- 8,182,282
12,385   Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2018A, 5.000%, 4/01/53   4/28 at 100.00 A- 13,810,514
10,000   Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2010A, 5.000%, 7/01/35   7/20 at 100.00 A 10,562,300
1,210   Miami-Dade County Industrual Development Authority, Florida, Revenue Bonds, Doral Academy, Seres 2018, 5.000%, 1/15/37   1/28 at 100.00 BBB- 1,295,583
1,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2014B, 5.000%, 10/01/37   10/24 at 100.00 A 1,118,910
5,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2009A, 5.500%, 10/01/41   10/19 at 100.00 A 5,207,850
7,500   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41   10/20 at 100.00 A 8,041,500
11

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
    Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B:        
$ 3,000   5.000%, 10/01/26   10/20 at 100.00 A $3,194,190
2,500   5.000%, 10/01/27   10/20 at 100.00 A 2,660,175
4,000   5.000%, 10/01/35  –  AGM Insured   10/20 at 100.00 AA 4,246,640
1,500   Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2016A, 5.000%, 10/01/41   10/26 at 100.00 A 1,708,755
4,715   Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series 2017, 5.000%, 6/01/38   6/27 at 100.00 Aa3 5,267,032
1,850   Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37   10/22 at 100.00 A2 2,016,445
    Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Refunding Series 2012:        
5,500   5.000%, 7/01/31   7/22 at 100.00 A1 6,046,205
3,000   5.000%, 7/01/42   7/22 at 100.00 AA 3,254,580
5,770   Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42   10/22 at 100.00 A+ 6,293,916
1,665   Orange County Health Facilities Authority, Florida, Hosiptal Revenue Bonds, Orlando Health, Inc., Series 2009, 5.125%, 10/01/26   10/19 at 100.00 A 1,731,200
750   Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Series 2012A, 5.000%, 10/01/42   4/22 at 100.00 A 812,220
255   Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A, 7.250%, 6/01/34   6/22 at 102.00 N/R 291,468
4,000   Palm Beach County, Florida, Water and Sewer Revenue Bonds, FPL Reclaimed Water Project, Series 2009, 5.250%, 10/01/33   10/19 at 100.00 AAA 4,173,280
    Port Saint Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009:        
45   5.250%, 9/01/35 (Pre-refunded 9/01/18)  –  AGC Insured   9/18 at 100.00 A1 (5) 45,144
435   5.250%, 9/01/35 (Pre-refunded 9/01/18)  –  AGC Insured   9/18 at 100.00 A1 (5) 436,409
1,385   Rivercrest Community Development District, Florida, Special Assessment Bonds, Series 2007, 5.000%, 5/01/30  –  RAAI Insured   11/18 at 100.00 A3 1,386,939
1,710   Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding & Improvement Series 1992, 6.000%, 10/01/19  –  NPFG Insured (ETM)   No Opt. Call Aa2 (5) 1,756,546
6,625   South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 4.000%, 5/01/33   5/25 at 100.00 Aa3 6,874,763
    South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Series 2017:        
4,595   5.000%, 8/15/42   8/27 at 100.00 A1 5,189,501
12,325   5.000%, 8/15/47   8/27 at 100.00 A1 13,858,230
1,200   Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 (Pre-refunded 10/01/19)  –  AGC Insured   10/19 at 100.00 AA (5) 1,248,396
5,000   Tampa Bay, Florida, Regional Water Supply Authority Utility System Revenue Bonds, Series 2008, 5.000%, 10/01/34 (Pre-refunded 10/01/18)   10/18 at 100.00 AA+ (5) 5,030,650
12

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
    Tampa Sports Authority, Hillsborough County, Florida, Sales Tax Payments Special Purpose Bonds, Stadium Project, Series 1995:        
$ 670   5.750%, 10/01/20  –  NPFG Insured   No Opt. Call N/R $700,867
2,785   5.750%, 10/01/25  –  NPFG Insured   No Opt. Call N/R 3,156,798
3,300   Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33   5/22 at 100.00 Aa2 3,607,395
4,000   Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2016A, 4.000%, 11/15/46   5/26 at 100.00 Aa2 4,064,080
9,720   Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2012B, 5.000%, 7/01/42 (Pre-refunded 7/01/22)   7/22 at 100.00 A2 (5) 10,816,222
1,500   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Inc. Project, Refunding Series 2011, 5.000%, 10/15/29 (Pre-refunded 10/15/21)  –  AGM Insured   10/21 at 100.00 A- (5) 1,647,225
2,000   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Series 2015B, 5.000%, 10/15/45   4/25 at 100.00 A3 2,209,180
7,400   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/45   6/25 at 100.00 A- 8,182,476
244,300   Total Florida       265,792,396
    Georgia – 3.4% (2.2% of Total Investments)        
6,950   Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2010A, 5.000%, 1/01/40  –  AGM Insured   1/20 at 100.00 Aa3 7,249,058
7,230   Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2012B, 5.000%, 1/01/42   1/22 at 100.00 AA- 7,852,358
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B:        
1,060   5.375%, 11/01/39  –  AGM Insured   11/19 at 100.00 A+ 1,106,227
1,990   5.375%, 11/01/39 (Pre-refunded 11/01/19)  –  AGM Insured   11/19 at 100.00 AA (5) 2,084,625
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2015:        
3,400   5.000%, 11/01/33   5/25 at 100.00 A+ 3,856,824
2,040   5.000%, 11/01/35   5/25 at 100.00 A+ 2,303,405
5,000   Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.500%, 11/01/22  –  FGIC Insured   No Opt. Call A+ 5,556,650
1,535   Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007, 4.000%, 8/01/26   8/20 at 100.00 AA 1,589,922
7,350   Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System, Series 2017A, 5.000%, 4/01/42   4/27 at 100.00 A 8,144,314
2,000   DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc. Project, Series 2010, 6.000%, 9/01/30   9/20 at 100.00 BB 2,133,860
5,725   Fayette County Hospital Authority, Georgia, Revenue Anticipation Certificates, Piedmont Healthcare, Inc. Project, Series 2016A, 5.000%, 7/01/46   7/26 at 100.00 AA- 6,289,084
10,000   Fulton County Development Authority, Georgia, Hospital Revenue Bonds, Wellstar Health System, Inc Project, Series 2017A, 5.000%, 4/01/42   4/27 at 100.00 A 11,080,700
6,370   Fulton County Development Authority, Georgia, Hospital Revenue Bonds, Wellstar Health System, Inc. Project, Series 2017A, 5.000%, 4/01/47   4/27 at 100.00 A 7,018,466
13

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Georgia (continued)        
    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:        
$ 2,360   5.250%, 2/15/45   2/20 at 100.00 AA- $2,461,551
7,640   5.250%, 2/15/45 (Pre-refunded 2/15/20)   2/20 at 100.00 N/R (5) 8,048,282
12,590   Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2014A, 5.500%, 8/15/54   2/25 at 100.00 AA- 14,429,273
7,500   Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2017B, 5.250%, 2/15/45   2/27 at 100.00 AA- 8,616,300
7,905   Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60   7/25 at 100.00 A2 8,407,600
11,000   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 A 11,111,980
1,350   Henry County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 2005, 5.250%, 2/01/27  –  BHAC Insured   No Opt. Call AA+ 1,629,180
8,230   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2015, 5.000%, 10/01/40   10/25 at 100.00 Baa2 8,780,093
2,615   Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center Project, Series 2011B, 5.000%, 10/01/41   10/21 at 100.00 AA- 2,817,558
121,840   Total Georgia       132,567,310
    Guam – 0.1% (0.1% of Total Investments)        
4,060   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43   7/23 at 100.00 BBB- 4,417,239
    Hawaii – 0.1% (0.1% of Total Investments)        
275   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43   7/23 at 100.00 BB 289,253
4,225   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A, 4.000%, 7/01/40   7/25 at 100.00 A1 4,286,136
4,500   Total Hawaii       4,575,389
    Idaho – 0.1% (0.1% of Total Investments)        
2,110   Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2012A, 5.000%, 3/01/47  –  AGM Insured   3/22 at 100.00 A- 2,235,271
2,685   Idaho Housing and Finance Association, GNMA Housing Revenue Refunding Bonds, Wedgewood Terrace Project, Series 2002A-1, 7.250%, 3/20/37   10/18 at 100.00 A1 2,720,549
4,795   Total Idaho       4,955,820
    Illinois – 22.8% (14.4% of Total Investments)        
    Board of Regents of Illinois State University, Auxiliary Facilities System Revenue Bonds, Series 2018A:        
1,000   5.000%, 4/01/34  –  AGM Insured   4/28 at 100.00 A2 1,093,710
285   5.000%, 4/01/37  –  AGM Insured   4/28 at 100.00 A2 309,071
1,370   5.000%, 4/01/38  –  AGM Insured   4/28 at 100.00 A2 1,483,409
14

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Bolingbrook, Illinois, General Obligation Refunding Bonds, Refunding Series 2002B:        
$ 4,595   0.000%, 1/01/32  –  FGIC Insured   No Opt. Call A2 $2,679,988
4,000   0.000%, 1/01/34  –  FGIC Insured   No Opt. Call A2 2,098,200
11,000   Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46   4/27 at 100.00 A 12,873,410
2,940   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.000%, 12/01/41   12/21 at 100.00 B2 2,975,750
5,000   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017G, 5.000%, 12/01/34   12/27 at 100.00 B+ 5,196,200
11,450   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44   12/25 at 100.00 B+ 13,328,372
1,785   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46   12/26 at 100.00 BB- 2,043,950
23,535   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A   12/27 at 100.00 B+ 28,174,454
10,510   Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/19  –  FGIC Insured   No Opt. Call B+ 10,169,581
    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A:        
19,600   0.000%, 12/01/20  –  FGIC Insured   No Opt. Call B+ 18,399,696
1,000   5.500%, 12/01/26  –  FGIC Insured   No Opt. Call B+ 1,094,840
3,500   Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2011, 5.250%, 6/01/26  –  AGM Insured   6/21 at 100.00 A2 3,763,305
5,785   Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40   12/21 at 100.00 A3 6,173,578
9,285   Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2014, 5.250%, 12/01/49   12/24 at 100.00 AA 10,294,558
1,985   Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Refunding Series 2013B, 5.000%, 1/01/26   1/23 at 100.00 A 2,190,249
13,100   Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Third Lien Refunding Series 2010C, 5.250%, 1/01/35  –  AGC Insured   1/20 at 100.00 A2 13,666,051
    Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:        
32,170   0.000%, 1/01/21  –  FGIC Insured   No Opt. Call BBB- 30,139,108
32,670   0.000%, 1/01/22  –  FGIC Insured   No Opt. Call BBB- 29,363,796
22,670   0.000%, 1/01/25  –  FGIC Insured   No Opt. Call BBB- 17,695,522
10,565   Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38   1/27 at 100.00 BBB- 11,924,715
5,540   Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Series 2008A, 5.000%, 1/01/38  –  AGC Insured   10/18 at 100.00 AA 5,554,238
5,000   Chicago, Illinois, Sales Tax Revenue Bonds, Series 2011A, 5.000%, 1/01/41 (Pre-refunded 1/01/22)   1/22 at 100.00 N/R (5) 5,515,150
5,000   Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.250%, 12/01/43   12/23 at 100.00 BBB 5,209,300
15

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 4,500   Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2017, 5.000%, 12/01/47  –  BAM Insured   12/27 at 100.00 A+ $4,843,665
4,865   Cook County Community Consolidated School District 15, Palatine, Illinois, General Obligation Bonds, Series 2001, 0.000%, 12/01/20  –  NPFG Insured   No Opt. Call Aa2 4,619,950
    Cook County Community High School District 219, Niles Township, Illinois, General Obligation Capital Appreciation Bonds, Series 2001:        
2,575   0.000%, 12/01/20  –  NPFG Insured   No Opt. Call Baa2 2,404,561
3,615   0.000%, 12/01/20  –  NPFG Insured (ETM)   No Opt. Call N/R (5) 3,459,953
    Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A:        
3,500   5.250%, 11/15/22   11/20 at 100.00 A2 3,738,245
12,425   5.250%, 11/15/33   11/20 at 100.00 A2 13,054,575
    DuPage County Forest Preserve District, Illinois, General Obligation Bonds, Series 2000:        
8,000   0.000%, 11/01/18   No Opt. Call AAA 7,969,840
15,285   0.000%, 11/01/19   No Opt. Call AAA 14,954,538
    Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History, Series 2002.RMKT:        
2,750   3.900%, 11/01/36   11/27 at 102.00 A 2,721,510
5,265   5.500%, 11/01/36   11/23 at 100.00 A 5,752,276
5,020   Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012, 5.000%, 6/01/42   6/22 at 100.00 Aa3 5,365,527
    Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C:        
3,500   5.000%, 2/15/32   2/27 at 100.00 Aa2 4,023,670
27,135   4.000%, 2/15/41   2/27 at 100.00 Aa2 27,906,177
1,000   5.000%, 2/15/41   2/27 at 100.00 Aa2 1,131,120
4,200   Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38   9/22 at 100.00 BB+ 4,395,174
    Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:        
8,750   5.000%, 9/01/39   9/24 at 100.00 BB+ 9,305,275
11,030   5.000%, 9/01/42   9/24 at 100.00 BB+ 11,711,544
1,500   Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39 (Pre-refunded 11/01/19)   11/19 at 100.00 Aa2 (5) 1,571,730
2,910   Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 5.000%, 5/15/43   5/22 at 100.00 Baa2 3,046,537
6,000   Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34   4/19 at 100.00 A1 6,152,940
16,165   Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/40   6/26 at 100.00 A3 17,558,585
1,100   Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Healthcare, Tender Option Bond Trust 2015-XF0076, 15.297%, 8/15/37, 144A (IF)   8/22 at 100.00 Aa2 1,459,964
16

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A:        
$ 1,080   6.000%, 5/15/39   5/20 at 100.00 A $1,139,951
3,460   6.000%, 5/15/39 (Pre-refunded 5/15/20)   5/20 at 100.00 N/R (5) 3,718,012
13,540   Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/45   11/25 at 100.00 A 14,663,414
    Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:        
85   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (5) 90,368
8,400   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (5) 8,930,460
2,215   Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43   7/23 at 100.00 A- 2,452,382
4,135   Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C, 5.000%, 8/15/44   8/25 at 100.00 Baa1 4,430,859
5,000   Illinois FInance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2017A, 5.000%, 3/01/47   3/27 at 100.00 A+ 5,454,800
8,040   Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41  –  AGM Insured   8/21 at 100.00 A2 8,855,256
    Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C:        
1,000   5.500%, 8/15/41 (Pre-refunded 2/15/21)   2/21 at 100.00 AA- (5) 1,089,760
2,500   5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (4)   2/21 at 100.00 AA- (5) 2,724,400
15,510   Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51   10/21 at 100.00 AA- 16,574,606
    Illinois State, General Obligation Bonds, February Series 2014:        
1,600   5.250%, 2/01/32   2/24 at 100.00 BBB- 1,692,960
5,450   5.000%, 2/01/39   2/24 at 100.00 BBB- 5,635,027
1,750   Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/32   1/26 at 100.00 BBB- 1,841,752
5,420   Illinois State, General Obligation Bonds, May Series 2014, 5.000%, 5/01/39   5/24 at 100.00 BBB- 5,613,819
5,000   Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/34   11/26 at 100.00 BBB- 5,272,500
3,500   Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/25   No Opt. Call BBB- 3,777,480
    Illinois State, General Obligation Bonds, October Series 2016:        
3,510   5.000%, 2/01/28   2/27 at 100.00 BBB- 3,768,582
21,100   5.000%, 2/01/29   2/27 at 100.00 BBB- 22,560,331
10,000   Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/21  –  AGM Insured   1/20 at 100.00 BBB 10,354,900
2,515   Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/24   8/22 at 100.00 BBB- 2,651,715
2,000   Illinois State, General Obligation Bonds, Series 2009A, 5.000%, 9/01/34   9/18 at 100.00 BBB- 2,001,060
    Illinois State, General Obligation Bonds, Series 2012A:        
2,500   5.000%, 3/01/25   3/22 at 100.00 BBB- 2,616,525
4,500   5.000%, 3/01/27   3/22 at 100.00 BBB- 4,686,705
2,035   Illinois State, General Obligation Bonds, Series 2013, 5.500%, 7/01/38   7/23 at 100.00 BBB- 2,143,893
17

NEA Nuveen AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 5,030   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38   1/23 at 100.00 AA- $5,508,252
    Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014B:        
8,000   5.000%, 1/01/38   1/24 at 100.00 AA- 8,827,520
6,500   5.000%, 1/01/39   1/24 at 100.00 AA- 7,165,470
10,040   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40   7/25 at 100.00 AA- 11,126,428
8,890   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015B, 5.000%, 1/01/40   1/26 at 100.00 AA- 9,895,014
10,000   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2017A, 5.000%, 1/01/42   1/28 at 100.00 AA- 11,339,800
1,115   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 15.009%, 1/01/38, 144A (IF)   1/23 at 100.00 AA- 1,539,336
11,050   Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2001, 6.000%, 11/01/26  –  FGIC Insured   No Opt. Call BBB- 12,409,371
    Lake County Community Unit School District 60, Waukegan, Illinois, General Obligation Refunding Bonds, Series 2001B:        
3,230   0.000%, 11/01/19  –  AGM Insured   No Opt. Call A2 3,147,312
1,740   0.000%, 11/01/21  –  AGM Insured   No Opt. Call A2 1,599,478
4,020   Lake, Cook, Kane and McHenry Counties Community Unit School District 220, Barrington, Illinois, General Obligation Bonds, Refunding Series 2002, 5.250%, 12/01/20  –  AGM Insured (UB)   No Opt. Call A2 4,326,445
5,000   Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 5.250%, 1/01/39  –  AGM Insured   1/21 at 100.00 A2 5,338,250
17,945   McHenry and Kane Counties Community Consolidated School District 158, Huntley, Illinois, General Obligation Bonds, Series 2003, 0.000%, 1/01/22  –  FGIC Insured   No Opt. Call Baa2 16,243,276
2,910   McHenry County Community High School District 154, Marengo, Illinois, Capital Appreciation School Bonds, Series 2001, 0.000%, 1/01/21  –  FGIC Insured   No Opt. Call Aa2 2,757,661
5,000   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/52 (UB) (4)   6/22 at 100.00 BB+ 5,155,650
5,000   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A, 5.500%, 6/15/53   12/25 at 100.00 BB+ 5,431,150
2,030   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017A, 5.000%, 6/15/57   12/27 at 100.00 BB+ 2,165,969
    Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A:        
3,790   5.500%, 6/15/50   6/20 at 100.00 BBB- 4,053,822
11,795   5.500%, 6/15/50   6/20 at 100.00 BB+ 12,090,819
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1:        
33,000   0.000%, 6/15/45  –  AGM Insured   No Opt. Call BBB- 10,061,040
5,355   0.000%, 6/15/46  –  AGM Insured   No Opt. Call BBB- 1,557,769
18

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1996A:        
$ 9,400   0.000%, 12/15/18  –  NPFG Insured   No Opt. Call BBB- $9,319,818
16,570   0.000%, 12/15/20  –  NPFG Insured   No Opt. Call BBB- 15,433,961
5,010   0.000%, 12/15/21  –  NPFG Insured   No Opt. Call Baa2 4,495,774
23,920   0.000%, 12/15/22  –  NPFG Insured   No Opt. Call BBB- 20,634,588
13,350   0.000%, 12/15/24  –  NPFG Insured   No Opt. Call BBB- 10,563,187
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1998A:        
5,100   5.500%, 12/15/23  –  FGIC Insured   No Opt. Call BB+ 5,610,663
5,180   5.500%, 12/15/23  –  FGIC Insured (ETM)   No Opt. Call Baa2 (5) 5,688,987
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2:        
2,330   5.000%, 6/15/50   6/20 at 100.00 BB+ 2,374,829
8,000   5.250%, 6/15/50   6/20 at 100.00 BB+ 8,164,960
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:        
1,420   5.700%, 6/15/25 (Pre-refunded 6/15/22)   6/22 at 101.00 N/R (5) 1,628,953
5,080   5.700%, 6/15/25   6/24 at 100.00 BB+ 5,624,627
8,000   5.750%, 6/15/26  –  NPFG Insured   6/22 at 101.00 BB+ 8,816,560
1,115   5.750%, 6/15/27   No Opt. Call BB+ 1,223,244
4,610   5.750%, 6/15/27 (Pre-refunded 6/15/22)   6/22 at 101.00 N/R (5) 5,296,890
195   0.000%, 6/15/30   No Opt. Call N/R 138,068
3,505   0.000%, 6/15/30   No Opt. Call BB+ 2,120,245
28,000   0.000%, 12/15/35  –  AGM Insured   No Opt. Call BBB- 13,373,080
3,280   0.000%, 6/15/37  –  NPFG Insured   No Opt. Call BB+ 1,375,206
11,715   0.000%, 12/15/38  –  NPFG Insured   No Opt. Call BB+ 4,565,687
9,760   Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Hospitality Facility, Series 1996A, 7.000%, 7/01/26 (ETM)   No Opt. Call AA+ (5) 11,825,314
    Midlothian, Illinois, General Obligation Bonds, Series 2010A:        
2,685   5.000%, 2/01/30  –  AGM Insured   2/20 at 100.00 AA 2,717,408
2,080   5.250%, 2/01/34  –  AGM Insured   2/20 at 100.00 AA 2,109,557
17,865   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1999, 5.750%, 6/01/23  –  AGM Insured   No Opt. Call A2 20,264,805
2,300   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2000A, 6.500%, 7/01/30  –  NPFG Insured   No Opt. Call A2 2,957,662
4,125   Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc., Series 2013, 7.625%, 11/01/48 (Pre-refunded 11/01/23)   11/23 at 100.00