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As Of Filer Filing For·On·As Docs:Size Issuer Agent 4/29/14 Nuveen Investment Funds Inc N-Q 2/28/14 2:1.2M RR Donnelley/FA → Nuveen Minnesota Intermediate Municipal Bond Fund ⇒ 5 Classes/Contracts → Nuveen Minnesota Municipal Bond Fund ⇒ 5 Classes/Contracts → Nuveen Nebraska Municipal Bond Fund ⇒ 5 Classes/Contracts → Nuveen Oregon Intermediate Municipal Bond Fund ⇒ 4 Classes/Contracts |
Document/Exhibit Description Pages Size 1: N-Q Nuveen Investment Funds, Inc. HTML 855K 2: EX-99.CERT Certifications HTML 20K
Nuveen Investment Funds, Inc. |
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 811-05309
Nuveen Investment Funds, Inc.
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Kevin J. McCarthy—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: May 31
Date of reporting period: February 28, 2014
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.
Nuveen Minnesota Intermediate Municipal Bond Fund
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 98.9% |
||||||||||||||||||
MUNICIPAL BONDS – 98.9% |
||||||||||||||||||
Education and Civic Organizations – 26.5% |
||||||||||||||||||
$ | 330 | Anoka County, Minnesota, Charter School Lease Revenue Bonds, Spectrum Building Company, Series 2012A, 5.000%, 6/01/32 |
No Opt. Call | BBB– | $ | 319,981 | ||||||||||||
210 | City of Woodbury, Minnesota, Charter School Lease Revenue Bonds, Math and Science Academy Building Company, Series 2012A, 5.000%, 12/01/27 |
No Opt. Call | BBB– | 212,566 | ||||||||||||||
500 | Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2014A, 5.500%, 8/01/36 |
8/22 at 100.00 | BBB– | 504,715 | ||||||||||||||
Itasca County, Minnesota, Revenue Bonds, Charles K. Blandin Foundation, Series 2010: |
||||||||||||||||||
635 | 4.000%, 5/01/18 |
No Opt. Call | A2 | 683,203 | ||||||||||||||
255 | 4.000%, 5/01/19 |
No Opt. Call | A2 | 276,142 | ||||||||||||||
1,300 | Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Yinghua Academy Charter School, Series 2013A, 6.000%, 7/01/33 |
7/23 at 100.00 | BB | 1,302,639 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, Blake School Project, Refundinjg Series 2010: |
||||||||||||||||||
550 | 4.000%, 9/01/19 |
No Opt. Call | A2 | 618,228 | ||||||||||||||
315 | 4.000%, 9/01/21 |
9/20 at 100.00 | A2 | 345,429 | ||||||||||||||
3,495 | Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010, 4.250%, 8/01/20 |
8/18 at 100.00 | BBB | 3,623,546 | ||||||||||||||
815 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Refunding Series 2010-7-G, 4.000%, 10/01/21 |
10/18 at 100.00 | Baa3 | 841,300 | ||||||||||||||
1,075 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Series 2005-6-C, 4.750%, 5/01/18 |
5/14 at 100.00 | Baa3 | 1,079,838 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Augsburg College, Series 2006-J-1: |
||||||||||||||||||
375 | 5.000%, 5/01/16 |
5/15 at 100.00 | Baa3 | 389,768 | ||||||||||||||
1,295 | 5.000%, 5/01/20 |
5/15 at 100.00 | Baa3 | 1,325,523 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: |
||||||||||||||||||
1,125 | 5.500%, 5/01/18 |
5/17 at 100.00 | N/R | 1,187,561 | ||||||||||||||
1,185 | 5.500%, 5/01/19 |
5/17 at 100.00 | N/R | 1,245,802 | ||||||||||||||
1,050 | 5.500%, 5/01/24 |
5/17 at 100.00 | N/R | 1,076,985 | ||||||||||||||
1,585 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Benedict, Series 2008-V, 4.500%, 3/01/17 |
No Opt. Call | Baa1 | 1,730,519 | ||||||||||||||
300 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Benedict, Series 2011-7M, 5.000%, 3/01/31 |
3/20 at 100.00 | Baa1 | 308,058 | ||||||||||||||
150 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2011-7J , 6.000%, 12/01/28 |
12/19 at 100.00 | Baa2 | 162,993 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2012-7R: |
||||||||||||||||||
200 | 4.000%, 12/01/20 |
No Opt. Call | Baa2 | 212,446 | ||||||||||||||
310 | 3.375%, 12/01/22 |
No Opt. Call | Baa2 | 306,950 |
Nuveen Investments | 1 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Education and Civic Organizations (continued) |
||||||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Series 2007-6S: |
||||||||||||||||||
$ | 360 | 4.375%, 12/01/16 |
No Opt. Call | Baa2 | $ | 393,055 | ||||||||||||
380 | 4.500%, 12/01/17 |
No Opt. Call | Baa2 | 425,292 | ||||||||||||||
750 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Series 20107H, 5.125%, 12/01/30 |
12/19 at 100.00 | Baa2 | 783,743 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2010-7B: |
||||||||||||||||||
1,530 | 5.000%, 10/01/18 |
No Opt. Call | A3 | 1,786,703 | ||||||||||||||
1,040 | 5.000%, 10/01/23 |
10/19 at 100.00 | A3 | 1,165,934 | ||||||||||||||
175 | 4.250%, 10/01/24 |
10/19 at 100.00 | A3 | 185,924 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2013-7W: |
||||||||||||||||||
350 | 4.000%, 10/01/21 |
No Opt. Call | A3 | 380,912 | ||||||||||||||
250 | 5.000%, 10/01/22 |
No Opt. Call | A3 | 288,075 | ||||||||||||||
500 | 5.000%, 10/01/23 |
No Opt. Call | A3 | 574,930 | ||||||||||||||
990 | 4.250%, 10/01/28 |
10/23 at 100.00 | A3 | 1,034,006 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University of Minnesota, Refunding Series 2010E: |
||||||||||||||||||
1,000 | 4.125%, 10/01/18 |
No Opt. Call | Baa2 | 1,084,290 | ||||||||||||||
1,370 | 4.375%, 10/01/20 |
No Opt. Call | Baa2 | 1,489,765 | ||||||||||||||
500 | 4.500%, 10/01/21 |
10/20 at 100.00 | Baa2 | 537,185 | ||||||||||||||
250 | 5.000%, 10/01/29 |
10/20 at 100.00 | Baa2 | 262,210 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University, Series 2011-7K1: |
||||||||||||||||||
1,000 | 4.250%, 10/01/18 |
No Opt. Call | Baa2 | 1,087,430 | ||||||||||||||
625 | 6.000%, 10/01/32 |
10/21 at 100.00 | Baa2 | 676,550 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Minneapolis College of Art and Design, Refunding Series 2006-6-K: |
||||||||||||||||||
320 | 5.000%, 5/01/14 |
No Opt. Call | Baa2 | 322,109 | ||||||||||||||
340 | 5.000%, 5/01/15 |
No Opt. Call | Baa2 | 354,243 | ||||||||||||||
355 | 5.000%, 5/01/16 |
5/15 at 100.00 | Baa2 | 369,402 | ||||||||||||||
370 | 5.000%, 5/01/17 |
5/15 at 100.00 | Baa2 | 383,646 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Catherine University, Series 2012-7Q: |
||||||||||||||||||
740 | 5.000%, 10/01/23 |
10/22 at 100.00 | Baa1 | 827,993 | ||||||||||||||
490 | 5.000%, 10/01/24 |
10/22 at 100.00 | Baa1 | 540,764 | ||||||||||||||
500 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Saint Olaf College, Refunding Series 2007-6O, 5.000%, 10/01/16 |
No Opt. Call | A1 | 555,870 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of Saint Thomas, Series 2009-6X: |
||||||||||||||||||
500 | 4.500%, 4/01/21 |
4/17 at 100.00 | A2 | 547,400 | ||||||||||||||
1,250 | 5.000%, 4/01/24 |
4/17 at 100.00 | A2 | 1,395,500 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of Saint Thomas, Series 2009-7A: |
||||||||||||||||||
1,075 | 4.500%, 10/01/18 |
No Opt. Call | A2 | 1,234,552 | ||||||||||||||
1,975 | 4.500%, 10/01/19 |
No Opt. Call | A2 | 2,284,700 |
2 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Education and Civic Organizations (continued) |
||||||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, University of Saint Thomas, Series 2013-7U: |
||||||||||||||||||
$ | 2,000 | 4.000%, 4/01/25 |
4/23 at 100.00 | A2 | $ | 2,130,640 | ||||||||||||
775 | 4.000%, 4/01/26 |
4/23 at 100.00 | A2 | 817,152 | ||||||||||||||
300 | 4.000%, 4/01/27 |
4/23 at 100.00 | A2 | 312,660 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Saint John’s University Revenue Bonds, Series 2008-6U: |
||||||||||||||||||
290 | 4.200%, 10/01/19 |
10/18 at 100.00 | A2 | 324,197 | ||||||||||||||
385 | 4.300%, 10/01/20 |
10/18 at 100.00 | A2 | 424,054 | ||||||||||||||
145 | 4.500%, 10/01/22 |
10/18 at 100.00 | A2 | 158,684 | ||||||||||||||
Minnesota State Colleges and University, General Fund Revenue Bonds, Series 2009A: |
||||||||||||||||||
985 | 4.000%, 10/01/22 |
10/19 at 100.00 | Aa2 | 1,065,918 | ||||||||||||||
1,755 | 4.000%, 10/01/23 |
10/19 at 100.00 | Aa2 | 1,874,989 | ||||||||||||||
Minnesota State Colleges and University, General Fund Revenue Bonds, Series 2011A: |
||||||||||||||||||
1,515 | 4.250%, 10/01/24 |
10/21 at 100.00 | Aa2 | 1,661,273 | ||||||||||||||
880 | 4.375%, 10/01/25 |
10/21 at 100.00 | Aa2 | 964,084 | ||||||||||||||
905 | 4.500%, 10/01/26 |
10/21 at 100.00 | Aa2 | 989,943 | ||||||||||||||
Moorhead, Minnesota, Educational Facilities Revenue Bonds, The Concordia College Corporation Project, Series 2005A: |
||||||||||||||||||
500 | 4.100%, 12/15/14 |
No Opt. Call | A3 | 513,175 | ||||||||||||||
880 | 4.200%, 12/15/15 |
No Opt. Call | A3 | 931,788 | ||||||||||||||
925 | 4.300%, 12/15/16 |
12/15 at 100.00 | A3 | 977,707 | ||||||||||||||
1,005 | 5.000%, 12/15/18 |
12/15 at 100.00 | A3 | 1,060,808 | ||||||||||||||
1,060 | 5.000%, 12/15/19 |
12/15 at 100.00 | A3 | 1,112,682 | ||||||||||||||
400 | Ramsey, Anoka County, Minnesota, Lease Revenue Bonds, PACT Charter School Project, Refunding Series 2013A, 5.000%, 12/01/26 |
12/21 at 100.00 | BBB– | 407,612 | ||||||||||||||
1,000 | Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Nova Classical Academy, Series 2011A, 5.700%, 9/01/21 |
No Opt. Call | BBB– | 1,062,650 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Twin Cities German Immersion School, Series 2013A: |
||||||||||||||||||
250 | 4.000%, 7/01/23 |
No Opt. Call | BB+ | 234,355 | ||||||||||||||
700 | 5.000%, 7/01/33 |
7/23 at 100.00 | BB+ | 641,438 | ||||||||||||||
500 | Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Community of Peace Academy Project, Series 2006A, 5.000%, 12/01/36 |
12/15 at 100.00 | BBB– | 481,545 | ||||||||||||||
200 | Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Saint Paul Conservatory for Performing Artists Charter School Project, Series 2013A, 4.000%, 3/01/28 |
3/23 at 100.00 | BBB– | 178,166 | ||||||||||||||
2,395 | Saint Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Minnesota Public Radio Project, Refunding Series 2010, 5.000%, 12/01/25 |
12/20 at 100.00 | A2 | 2,602,144 | ||||||||||||||
1,020 | University of Minnesota, General Revenue Bonds, Series 2009C, 5.000%, 12/01/19 |
6/19 at 100.00 | Aa1 | 1,218,053 | ||||||||||||||
University of Minnesota, General Revenue Bonds, Series 2013A: |
||||||||||||||||||
800 | 4.000%, 2/01/25 |
2/23 at 100.00 | Aa1 | 877,752 | ||||||||||||||
2,000 | 4.000%, 2/01/27 |
2/23 at 100.00 | Aa1 | 2,150,940 | ||||||||||||||
59,610 | Total Education and Civic Organizations |
63,900,784 | ||||||||||||||||
Health Care – 20.7% |
||||||||||||||||||
735 | Aitkin, Minnesota Health Care Revenue Bonds, Riverwood Healthcare Center, Series 2006, 5.250%, 2/01/15 |
No Opt. Call | N/R | 749,854 |
Nuveen Investments | 3 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 1,340 | Cuyuna Range Hospital District, Minnesota, Health Care Facilities Gross Revenue Bonds, Refunding Series 2007, 5.000%, 6/01/17 |
No Opt. Call | N/R | $ | 1,388,146 | ||||||||||||
400 | Fergus Falls, Minnesota, Health Care Facilities Revenue Bonds, Lake Region Healthcare Corporation Project, Series 2010, 4.750%, 8/01/25 |
8/17 at 100.00 | BBB | 408,068 | ||||||||||||||
Glencoe, Minnesota, Health Care Facilities Revenue Bonds, Glencoe Regional Health Services Project, Series 2013: |
||||||||||||||||||
660 | 4.000%, 4/01/25 |
4/22 at 100.00 | BBB | 665,207 | ||||||||||||||
400 | 4.000%, 4/01/26 |
4/22 at 100.00 | BBB | 399,324 | ||||||||||||||
Maple Grove, Minnesota, Health Care Facilities Revenue Bonds, Maple Grove Hospital Corporation, Series 2007: |
||||||||||||||||||
1,000 | 5.000%, 5/01/17 |
No Opt. Call | Baa1 | 1,097,980 | ||||||||||||||
585 | 4.500%, 5/01/23 |
5/17 at 100.00 | Baa1 | 595,126 | ||||||||||||||
1,730 | Maple Grove, Minnesota, Health Care Facility Revenue Bonds, North Memorial Health Care, Series 2005, 4.500%, 9/01/17 |
9/15 at 100.00 | Baa1 | 1,801,830 | ||||||||||||||
1,000 | Meeker County, Minnesota, Gross Revenue Hospital Facilities Bonds, Meeker County Memorial Hospital Project, Series 2007, 5.625%, 11/01/22 |
11/17 at 100.00 | N/R | 1,052,000 | ||||||||||||||
4,550 | Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.375%, 11/15/23 |
11/18 at 100.00 | A | 5,353,846 | ||||||||||||||
680 | Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series 2008B, 6.500%, 11/15/38 – AGC Insured |
11/18 at 100.00 | AA– | 788,317 | ||||||||||||||
1,000 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children’s Health Care, Series 2010A, 5.250%, 8/15/25 |
8/20 at 100.00 | A+ | 1,110,060 | ||||||||||||||
1,035 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2008C-1, 5.500%, 2/15/25 – AGC Insured |
2/20 at 100.00 | AA– | 1,161,363 | ||||||||||||||
Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 1997A: |
||||||||||||||||||
250 | 5.500%, 11/15/17 – NPFG Insured |
5/14 at 100.00 | A | 251,010 | ||||||||||||||
10 | 5.750%, 11/15/26 – NPFG Insured |
5/14 at 100.00 | A | 10,015 | ||||||||||||||
1,215 | Monticello-Big Lake Community Hospital District, Minnesota, Gross Revenue Health Care Facilities Bonds, Series 2003C, 5.750%, 12/01/15 |
5/14 at 100.00 | N/R | 1,217,223 | ||||||||||||||
Northern Itasca Hospital District, Minnesota, Health Facilities Gross Revenue Bonds, Refunding Series 2013A: |
||||||||||||||||||
275 | 4.000%, 12/01/25 |
12/20 at 100.00 | N/R | 268,714 | ||||||||||||||
250 | 4.050%, 12/01/26 |
12/20 at 100.00 | N/R | 243,418 | ||||||||||||||
250 | 4.150%, 12/01/27 |
12/20 at 100.00 | N/R | 244,533 | ||||||||||||||
500 | Northern Itasca Hospital District, Minnesota, Health Facilities Gross Revenue Bonds, Series 2013C, 5.400%, 12/01/33 |
12/20 at 100.00 | N/R | 511,740 | ||||||||||||||
Northfield, Minnesota, Hospital Revenue Bonds, Refunding Series 2006: |
||||||||||||||||||
920 | 5.000%, 11/01/14 |
No Opt. Call | BBB | 938,777 | ||||||||||||||
1,080 | 5.500%, 11/01/17 |
11/16 at 100.00 | BBB | 1,167,361 | ||||||||||||||
1,015 | Redwood Falls, Minnesota, Gross Revenue Hospital Facilities Bonds, Redwood Area Hospital Project, Series 2006, 5.000%, 12/01/21 |
12/16 at 100.00 | N/R | 1,041,065 | ||||||||||||||
1,490 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Mayo Clinic, Series 2011, 4.500%, 11/15/38 (Mandatory put 11/15/21) |
No Opt. Call | AA | 1,715,899 | ||||||||||||||
1,000 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2010, 5.125%, 7/01/20 |
No Opt. Call | A– | 1,120,030 |
4 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 500 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2013, 3.000%, 7/01/25 |
7/23 at 100.00 | A– | $ | 472,700 | ||||||||||||
1,000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2008D, 5.375%, 5/01/31 – AGC Insured |
5/19 at 100.00 | A1 | 1,077,440 | ||||||||||||||
1,020 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 4.250%, 5/01/21 |
5/20 at 100.00 | A1 | 1,126,049 | ||||||||||||||
2,500 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2008C, 5.625%, 7/01/26 |
7/18 at 100.00 | A | 2,700,125 | ||||||||||||||
1,455 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2009, 5.500%, 7/01/29 |
7/19 at 100.00 | A | 1,546,010 | ||||||||||||||
1,350 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/19 |
11/16 at 100.00 | A | 1,460,835 | ||||||||||||||
1,200 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2007A, 5.000%, 11/15/19 – NPFG Insured |
11/17 at 100.00 | AA– | 1,363,380 | ||||||||||||||
3,075 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1, 5.000%, 11/15/24 |
11/19 at 100.00 | AA– | 3,435,113 | ||||||||||||||
1,025 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Children’s Specialty Healthcare Project, Series 2009, 5.000%, 2/01/19 |
No Opt. Call | A– | 1,154,324 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Children’s Specialty Healthcare Project, Series 2010: |
||||||||||||||||||
1,560 | 5.000%, 2/01/19 |
5/14 at 100.00 | A– | 1,565,179 | ||||||||||||||
500 | 5.000%, 2/01/20 |
5/14 at 100.00 | A– | 501,490 | ||||||||||||||
Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005A: |
||||||||||||||||||
485 | 5.250%, 5/01/15 |
No Opt. Call | BB+ | 510,341 | ||||||||||||||
2,000 | 5.750%, 5/01/25 |
5/15 at 100.00 | BB+ | 2,048,780 | ||||||||||||||
1,785 | Shakopee, Minnesota, Health Care Facilities Revenue Bonds, Saint Francis Regional Medical Center, Series 2004, 5.000%, 9/01/17 |
9/14 at 100.00 | A– | 1,815,506 | ||||||||||||||
1,850 | St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005, 5.150%, 11/15/20 |
11/15 at 100.00 | BBB– | 1,926,997 | ||||||||||||||
1,000 | Winona Health Care Facilities Revenue Refunding Bonds, Minnesota, Winona Health Obligated Group, Series 2007, 5.000%, 7/01/20 |
7/17 at 100.00 | BBB– | 1,084,330 | ||||||||||||||
Winona, Minnesota, Health Care Facilities Revenue Bonds, Winona Health Obligated Group, Refunding Series 2012: |
||||||||||||||||||
485 | 4.500%, 7/01/24 |
7/21 at 100.00 | BBB– | 500,898 | ||||||||||||||
250 | 5.000%, 7/01/34 |
7/21 at 100.00 | BBB– | 253,510 | ||||||||||||||
46,410 | Total Health Care |
49,843,913 | ||||||||||||||||
Housing/Multifamily – 0.2% |
||||||||||||||||||
500 | Anoka Housing and Redevelopment Authority, Minnesota, Multifamily Housing Revenue Bonds, Woodland Park Apartments Project, Series 2011A, 5.000%, 4/01/27 |
4/19 at 100.00 | Aaa | 525,750 | ||||||||||||||
Housing/Single Family – 1.1% |
||||||||||||||||||
895 | Dakota County Community Development Agency, Minnesota, Single Family Mortgage Revenue Bonds, Mortgage Backed Securities Program, Series 2011A, 4.400%, 12/01/26 |
12/20 at 100.00 | AA+ | 939,893 | ||||||||||||||
880 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011D, 4.375%, 7/01/26 |
7/21 at 100.00 | Aaa | 930,310 |
Nuveen Investments | 5 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Single Family (continued) |
||||||||||||||||||
$ | 550 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2012A, 3.750%, 7/01/22 (Alternative Minimum Tax) |
1/22 at 100.00 | AA+ | $ | 567,171 | ||||||||||||
185 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2012C, 3.750%, 1/01/22 (Alternative Minimum Tax) |
No Opt. Call | AA+ | 194,098 | ||||||||||||||
2,510 | Total Housing/Single Family |
2,631,472 | ||||||||||||||||
Industrials – 1.6% |
||||||||||||||||||
505 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2006-1A, 4.625%, 12/01/14 (Alternative Minimum Tax) |
No Opt. Call | A+ | 518,175 | ||||||||||||||
2,020 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2010-2A, 4.625%, 12/01/20 |
No Opt. Call | A+ | 2,295,265 | ||||||||||||||
1,000 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2013-1, 4.000%, 6/01/28 |
6/21 at 100.00 | A+ | 1,019,860 | ||||||||||||||
3,525 | Total Industrials |
3,833,300 | ||||||||||||||||
Long-Term Care – 6.9% |
||||||||||||||||||
565 | Center City, Minnesota, Health Care Facilities Revenue Bonds, Hazelden Foundation Project, Series 2011, 4.550%, 11/01/26 |
11/19 at 100.00 | A3 | 588,668 | ||||||||||||||
800 | Chisago City, Minnesota, Housing and Health Care Revenue Bonds, CDL Homes, LLC Project, Series 2013B, 6.000%, 8/01/33 |
8/23 at 100.00 | N/R | 822,560 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, Walker Minneapolis Campus Project, Refunding Series 2012: |
||||||||||||||||||
1,400 | 5.000%, 11/15/24 |
11/22 at 100.00 | N/R | 1,422,638 | ||||||||||||||
1,650 | 4.750%, 11/15/28 |
11/22 at 100.00 | N/R | 1,572,549 | ||||||||||||||
2,000 | Moorhead, Minnesota, Senior Housing Facility Revenue Bonds, Sheyenne Crossings Project, Series 2006, 5.600%, 4/01/25 |
4/14 at 101.00 | N/R | 2,020,840 | ||||||||||||||
1,500 | Saint Paul Housing and Redevelopment Authority Minnesota, Senior Housing and Health Care Revenue Bonds, Episcopal Homes Project, Series 2013, 5.000%, 5/01/33 |
5/23 at 100.00 | N/R | 1,376,730 | ||||||||||||||
1,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Senior Housing and Health Care Revenue Bonds, Episcopal Homes Project, Refunding Series 2012A, 4.000%, 11/01/22 |
No Opt. Call | N/R | 934,270 | ||||||||||||||
2,000 | Saint Paul Port Authority, Minnesota, Revenue Bonds, Amherst H. Wilder Foundation Project, Series 2010-3, 5.000%, 12/01/24 |
12/20 at 100.00 | A1 | 2,160,820 | ||||||||||||||
1,000 | Sartell, Minnesota, Health Care and Housing Facilities Revenue Bonds, Country Manor Campus LLC Project, Series 2012A, 5.250%, 9/01/27 |
9/22 at 100.00 | N/R | 988,570 | ||||||||||||||
2,270 | Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd Luthran Home, Refunding Series 2013, 5.125%, 1/01/39 |
1/23 at 100.00 | N/R | 2,058,413 | ||||||||||||||
Wayzata, Minnesota, Senior Housing Revenue Bonds, Folkestone Senior Living Community, Series 2012A: |
||||||||||||||||||
625 | 5.100%, 5/01/24 – AGM Insured |
5/19 at 102.00 | N/R | 645,494 | ||||||||||||||
310 | 5.300%, 5/01/27 |
5/19 at 102.00 | N/R | 318,271 | ||||||||||||||
500 | 5.300%, 11/01/27 |
5/19 at 102.00 | N/R | 513,340 | ||||||||||||||
515 | 5.500%, 11/01/32 |
5/19 at 102.00 | N/R | 524,116 | ||||||||||||||
575 | Worthington, Minnesota, Housing Revenue Refunding Bonds, Meadows of Worthington Project, Series 2007A, 5.000%, 11/01/17 |
11/14 at 101.00 | N/R | 577,248 | ||||||||||||||
16,710 | Total Long-Term Care |
16,524,527 |
6 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General – 15.6% |
||||||||||||||||||
$ | 500 | Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2007D, 5.000%, 2/01/24 |
2/17 at 100.00 | Aa1 | $ | 557,200 | ||||||||||||
1,000 | Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2008A, 5.000%, 2/01/20 |
2/18 at 100.00 | Aa1 | 1,138,360 | ||||||||||||||
Anoka County, Minnesota, General Obligation Bonds, Capital Improvement, Series 2008C: |
||||||||||||||||||
285 | 4.100%, 2/01/18 |
No Opt. Call | Aa1 | 322,383 | ||||||||||||||
595 | 4.200%, 2/01/19 |
2/18 at 100.00 | Aa1 | 667,031 | ||||||||||||||
Bemidji, Minnesota, General Obligation Bonds, Refunding Sales Tax Series 2011: |
||||||||||||||||||
635 | 5.500%, 2/01/23 |
2/21 at 100.00 | Aa3 | 752,094 | ||||||||||||||
750 | 5.500%, 2/01/24 |
2/21 at 100.00 | Aa3 | 881,070 | ||||||||||||||
875 | 5.500%, 2/01/25 |
2/21 at 100.00 | Aa3 | 1,021,353 | ||||||||||||||
1,010 | 5.500%, 2/01/26 |
2/21 at 100.00 | Aa3 | 1,172,105 | ||||||||||||||
1,150 | 5.500%, 2/01/27 |
2/21 at 100.00 | Aa3 | 1,327,894 | ||||||||||||||
2,835 | Buffalo-Hanover-Montrose Independent School District 877, Minnesota, General Obligation Bonds, Refunding Series 2012A, 4.000%, 2/01/23 |
2/22 at 100.00 | Aa2 | 3,135,708 | ||||||||||||||
350 | Burnsville Independent School District 191, Dakota and Scott Counties, Minnesota, General Obligation Bonds, Series 2007A, 4.200%, 2/01/25 – AGM Insured |
2/17 at 100.00 | Aa2 | 362,632 | ||||||||||||||
1,200 | Burnsville Independent School District 191, Dakota and Scott Counties, Minnesota, General Obligation Bonds, Series 2008A, 4.250%, 2/01/20 |
2/18 at 100.00 | Aa2 | 1,324,488 | ||||||||||||||
1,000 | Chaska Independent School District 112, Carver County, Minnesota, General Obligation Bonds, Series 2007A, 4.250%, 2/01/19 – NPFG Insured |
2/17 at 100.00 | Aa2 | 1,089,400 | ||||||||||||||
450 | Chatfield Independent School District 227, Olmstead County, Minnesota, General Obligation Bonds, Series 2007A, 4.000%, 2/01/18 – AGM Insured |
No Opt. Call | AA+ | 505,985 | ||||||||||||||
Dakota County Community Agency, Minnesota, Governmental Housing Development General Obligation Bonds, Senior Housing Facilities, Series 2007A: |
||||||||||||||||||
510 | 4.375%, 1/01/19 |
7/17 at 100.00 | AAA | 560,623 | ||||||||||||||
215 | 4.500%, 1/01/20 |
7/17 at 100.00 | AAA | 237,263 | ||||||||||||||
1,185 | Duluth Independent School District 709, Saint Louis County, Minnesota, General Obligation Bonds, Series 2008A, 4.250%, 2/01/22 – AGM Insured |
2/18 at 100.00 | Aa2 | 1,271,683 | ||||||||||||||
Duluth, Minnesota, General Obligation Bonds, DECC Improvement Series 2008A: |
||||||||||||||||||
1,160 | 4.500%, 2/01/21 |
2/18 at 100.00 | AA | 1,284,804 | ||||||||||||||
465 | 4.500%, 2/01/22 |
2/18 at 100.00 | AA | 515,029 | ||||||||||||||
1,100 | 4.625%, 2/01/24 |
2/18 at 100.00 | AA | 1,204,632 | ||||||||||||||
455 | Greenway Independent School District 316, Itasca County, Minnesota, General Obligation Bonds, Alternate Facilities, Series 2011C, 4.250%, 2/01/25 |
2/19 at 100.00 | AA+ | 482,705 | ||||||||||||||
2,025 | Independent School District 833, South Washington County, Minnesota, General Obligation Bonds, Crossover Refunding School Building Series 2010A, 4.000%, 2/01/22 |
2/19 at 100.00 | AA+ | 2,205,063 | ||||||||||||||
1,135 | Minneapolis Special School District 1, Hennepin County, Minnesota, General Obligation Bonds, Series 2007, 4.000%, 2/01/18 |
2/15 at 100.00 | AA+ | 1,169,084 | ||||||||||||||
1,000 | Minneapolis, Minnesota, Limited Tax Supported Development Revenue Bonds, Common Bond Fund Series 2007-2A, 5.125%, 6/01/22 (Alternative Minimum Tax) |
6/17 at 100.00 | A+ | 1,049,260 | ||||||||||||||
2,000 | Minnesota State, General Obligation Bonds, Various Purpose Series 2013A, 5.000%, 8/01/25 |
8/23 at 100.00 | AA+ | 2,396,460 | ||||||||||||||
2,000 | Minnesota State, General Obligation Bonds, Various Purpose Series 2013D, 3.500%, 10/01/28 |
10/23 at 100.00 | AA+ | 2,035,500 | ||||||||||||||
Minnetonka Independent School District 276, Hennepin County, Minnesota, General Obligation Bonds, Refunding Series 2013H: |
||||||||||||||||||
525 | 4.000%, 2/01/25 |
2/23 at 100.00 | Aaa | 575,153 | ||||||||||||||
600 | 4.000%, 2/01/26 |
2/23 at 100.00 | Aaa | 650,448 |
Nuveen Investments | 7 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
$ | 620 | OtterTail County, Minnesota, General Obligation Bonds, Disposal System – Prairie Lakes Municipal Authority, Series 2011, 4.750%, 5/01/27 (Alternative Minimum Tax) |
5/21 at 100.00 | AA+ | $ | 673,351 | ||||||||||||
1,605 | Puerto Rico, General Obligation and Public Improvement Bonds, Series 1998, 6.000%, 7/01/14 – NPFG Insured |
No Opt. Call | A | 1,605,321 | ||||||||||||||
500 | Robbinsdale Independent School District 281, Hennepin County, Minnesota, General Obligation Bonds, Series 2008B, 4.500%, 2/01/21 |
2/18 at 100.00 | Aa2 | 547,855 | ||||||||||||||
1,140 | Rochester, Minnesota, General Obligation Waste Water Bonds, Series 2007A, 4.000%, 12/01/18 |
6/17 at 100.00 | AAA | 1,253,840 | ||||||||||||||
1,000 | Saint Cloud, Minnesota, General Obligation Bonds, Library Sales Tax Series 2006B, 4.000%, 2/01/18 – AGM Insured |
2/16 at 100.00 | AA+ | 1,062,280 | ||||||||||||||
600 | Saint Louis County Independent School District 2142, Minnesota, General Obligation Bonds, Refunding School Building Series 2014A, 3.500%, 2/01/23 |
2/22 at 100.00 | AA+ | 632,922 | ||||||||||||||
1,000 | Shakopee Independent School District 720, Scott County, Minnesota, General Obligation Bonds, Series 2013A, 5.000%, 2/01/23 |
No Opt. Call | Aa2 | 1,194,860 | ||||||||||||||
640 | Wright County, Minnesota, General Obligation Bonds, Jail Series 2007A, 4.500%, 12/01/20 |
12/17 at 100.00 | AA+ | 704,890 | ||||||||||||||
34,115 | Total Tax Obligation/General |
37,570,729 | ||||||||||||||||
Tax Obligation/Limited – 5.6% |
||||||||||||||||||
1,910 | Duluth Independent School District 709, Minnesota, Certificates of Participation, Series 2008B, 4.000%, 2/01/19 |
No Opt. Call | AA+ | 2,166,589 | ||||||||||||||
780 | Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/31 |
1/22 at 100.00 | A | 802,628 | ||||||||||||||
Hennepin County, Minnesota, Sales Tax Revenue Bonds, Ballpark Project, Second Lien Series 2008B: |
||||||||||||||||||
690 | 4.375%, 12/15/22 |
12/17 at 100.00 | AA+ | 763,264 | ||||||||||||||
1,000 | 5.000%, 12/15/29 |
12/17 at 100.00 | AA+ | 1,105,680 | ||||||||||||||
Minneapolis, Minnesota, Tax Increment Revenue Bonds, Grant Park Project, Series 2006: |
||||||||||||||||||
1,000 | 5.200%, 2/01/22 |
5/14 at 100.00 | N/R | 1,000,460 | ||||||||||||||
400 | 5.350%, 2/01/30 |
5/14 at 100.00 | N/R | 382,392 | ||||||||||||||
810 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2004, 5.000%, 2/01/17 |
5/14 at 100.00 | N/R | 811,490 | ||||||||||||||
570 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2005, 5.300%, 2/01/21 |
5/14 at 100.00 | N/R | 570,234 | ||||||||||||||
1,185 | Minnesota Housing Finance Agency, Nonprofit Housing Bonds, State Appropriation Series 2011, 5.250%, 8/01/27 |
8/21 at 100.00 | AA | 1,309,887 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Recreational Faility Lease Revenue Bonds, Jimmy Lee Recreational Center, Series 2008: |
||||||||||||||||||
180 | 4.500%, 12/01/19 |
12/17 at 100.00 | AA+ | 199,168 | ||||||||||||||
290 | 4.500%, 12/01/20 |
12/17 at 100.00 | AA+ | 316,196 | ||||||||||||||
Stevens County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2009A: |
||||||||||||||||||
315 | 4.000%, 2/01/18 |
No Opt. Call | A+ | 344,878 | ||||||||||||||
325 | 4.000%, 2/01/19 |
No Opt. Call | A+ | 358,517 | ||||||||||||||
340 | 4.100%, 2/01/20 |
No Opt. Call | A+ | 375,737 | ||||||||||||||
1,895 | University of Minnesota, Special Purpose Revenue Bonds, State Supported Biomedical Science Research Facilities Funding Program, Series 2011B, 5.000%, 8/01/23 |
8/21 at 100.00 | AA | 2,199,583 |
8 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
$ | 640 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/20 |
No Opt. Call | BBB | $ | 725,120 | ||||||||||||
12,330 | Total Tax Obligation/Limited |
13,431,823 | ||||||||||||||||
Transportation – 7.6% |
||||||||||||||||||
Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009A: |
||||||||||||||||||
1,000 | 4.000%, 1/01/19 |
No Opt. Call | AA– | 1,125,030 | ||||||||||||||
1,000 | 5.000%, 1/01/20 |
1/19 at 100.00 | AA– | 1,136,520 | ||||||||||||||
500 | 5.000%, 1/01/21 |
1/19 at 100.00 | AA– | 564,075 | ||||||||||||||
2,145 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien Series 2005B, 5.000%, 1/01/20 – AMBAC Insured (Alternative Minimum Tax) |
1/15 at 100.00 | A | 2,221,040 | ||||||||||||||
1,510 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien Series 2010D, 4.000%, 1/01/23 (Alternative Minimum Tax) |
1/20 at 100.00 | A | 1,562,850 | ||||||||||||||
2,330 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien, Refunding Series 2011A, 5.000%, 1/01/25 |
1/21 at 100.00 | A | 2,606,268 | ||||||||||||||
Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien, Refunding Series 2012B: |
||||||||||||||||||
2,550 | 5.000%, 1/01/29 |
1/22 at 100.00 | A | 2,798,294 | ||||||||||||||
2,750 | 5.000%, 1/01/30 |
1/22 at 100.00 | A | 3,000,085 | ||||||||||||||
St Paul Housing and Redevelopment Authority, Minnesota, Parking Revenue Bonds, Parking Facilities Project, Refunding Series 2010A: |
||||||||||||||||||
805 | 4.000%, 8/01/21 |
8/18 at 102.00 | A+ | 872,242 | ||||||||||||||
895 | 4.125%, 8/01/23 |
8/18 at 102.00 | A+ | 954,294 | ||||||||||||||
935 | 4.250%, 8/01/24 |
8/18 at 102.00 | A+ | 996,476 | ||||||||||||||
575 | 4.250%, 8/01/25 |
8/18 at 102.00 | A+ | 604,963 | ||||||||||||||
16,995 | Total Transportation |
18,442,137 | ||||||||||||||||
U.S. Guaranteed – 1.2% (4) |
||||||||||||||||||
500 | Bemidji, Minnesota, Health Care Facilities First Mortgage Revenue Bonds, North Country Health Services, Refunding Series 2006, 5.000%, 9/01/17 (Pre-refunded 9/01/16) |
9/16 at 100.00 | N/R (4) | 554,355 | ||||||||||||||
1,155 | Marshall, Minnesota, Revenue Bonds, Avera Marshall Regional Medical Center, Series 2006, 4.750%, 11/01/20 (Pre-refunded 11/01/15) |
11/15 at 100.00 | BBB+ (4) | 1,231,438 | ||||||||||||||
465 | Pine County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2005A, 4.500%, 2/01/16 (ETM) |
No Opt. Call | AA– (4) | 500,633 | ||||||||||||||
385 | Pine County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2005A, 4.500%, 2/01/17 (Pre-refunded 2/01/16) |
2/16 at 100.00 | AA– (4) | 414,503 | ||||||||||||||
200 | Zumbrota-Mazeppa Independent School District 2805, Wabasha County, Minnesota, General Obligation Bonds,
Alternate Facilities Series 2008A, 4.000%, 2/01/19 |
2/18 at 100.00 | AA+ (4) | 221,334 | ||||||||||||||
2,705 | Total U.S. Guaranteed |
2,922,263 | ||||||||||||||||
Utilities – 11.7% |
||||||||||||||||||
1,010 | Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Refunding Series 2005A, 4.200%, 10/01/15 |
No Opt. Call | A3 | 1,068,257 | ||||||||||||||
2,230 | Cohasset, Minnesota, Pollution Control Revenue Bonds, Allete Inc., Series 2004, 4.950%, 7/01/22 – RAAI Insured |
7/14 at 100.00 | A1 | 2,243,893 |
Nuveen Investments | 9 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
$ | 1,140 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/25 – AGM Insured |
10/22 at 100.00 | AA– | $ | 1,262,117 | ||||||||||||
Hutchinson, Minnesota, Public Utility Revenue Bonds, Refunding Series 2012A: |
||||||||||||||||||
500 | 5.000%, 12/01/25 |
12/22 at 100.00 | A1 | 567,935 | ||||||||||||||
670 | 5.000%, 12/01/26 |
12/22 at 100.00 | A1 | 754,407 | ||||||||||||||
500 | Litchfield, Minnesota, Electric Utility Revenue Bonds, Series 2009C, 5.000%, 2/01/29 – AGC Insured |
2/18 at 100.00 | AA– | 542,450 | ||||||||||||||
340 | Marshall, Minnesota, Public Utility Revenue Bonds, Series 2009A, 3.750%, 7/01/18 – AGC Insured |
No Opt. Call | AA– | 375,275 | ||||||||||||||
Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2007: |
||||||||||||||||||
420 | 4.125%, 10/01/17 |
No Opt. Call | A3 | 468,468 | ||||||||||||||
1,000 | 5.250%, 10/01/22 |
10/17 at 100.00 | A3 | 1,141,730 | ||||||||||||||
Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2007A: |
||||||||||||||||||
460 | 5.000%, 1/01/17 – AMBAC Insured |
No Opt. Call | A– | 514,653 | ||||||||||||||
1,050 | 5.000%, 1/01/19 – AGC Insured |
1/18 at 100.00 | AA– | 1,193,199 | ||||||||||||||
2,155 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2008A, 5.000%, 1/01/21 – AGC Insured |
1/18 at 100.00 | AA– | 2,411,079 | ||||||||||||||
2,940 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, |
No Opt. Call | A– | 3,435,390 | ||||||||||||||
1,430 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Series 2013A, 5.000%, 1/01/30 |
1/23 at 100.00 | A– | 1,560,573 | ||||||||||||||
Rochester, Minnesota, Electric Utility Revenue Bonds, Refunding Series 2013B: |
||||||||||||||||||
350 | 5.000%, 12/01/25 |
12/23 at 100.00 | Aa3 | 413,147 | ||||||||||||||
570 | 5.000%, 12/01/33 |
12/23 at 100.00 | Aa3 | 636,388 | ||||||||||||||
615 | 5.000%, 12/01/43 |
12/23 at 100.00 | Aa3 | 670,215 | ||||||||||||||
295 | Shakopee Public Utilities Commission, Minnesota, Public Utilities Crossover Refunding Revenue Bonds, Series 2006A, 4.250%, 2/01/18 – AGM Insured |
2/15 at 100.00 | A2 | 304,269 | ||||||||||||||
Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 1994A: |
||||||||||||||||||
3,500 | 0.000%, 1/01/20 – NPFG Insured |
No Opt. Call | A+ | 3,083,605 | ||||||||||||||
5,000 | 0.000%, 1/01/21 – NPFG Insured |
No Opt. Call | A+ | 4,195,650 | ||||||||||||||
1,250 | Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Refunding Series 2012A, 5.000%, 1/01/29 |
1/23 at 100.00 | Aa3 | 1,417,400 | ||||||||||||||
27,425 | Total Utilities |
28,260,100 | ||||||||||||||||
Water and Sewer – 0.2% |
||||||||||||||||||
500 | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 5.000%, 7/01/16 – AGC Insured |
No Opt. Call | AA– | 496,550 | ||||||||||||||
$ | 223,335 | Total Long-Term Investments (cost $225,243,710) |
238,383,348 |
10 | Nuveen Investments |
Shares | Description (1) | Value | ||||||||||||
SHORT-TERM INVESTMENTS – 0.3% |
||||||||||||||
Money Market Funds – 0.3% |
||||||||||||||
761,506 | Federated Minnesota Municipal Cash Trust, 0.010% (5) |
$ | 761,506 | |||||||||||
Total Short-Term Investments (cost $761,506) |
761,506 | |||||||||||||
Total Investments (cost $226,005,216) – 99.2% |
239,144,854 | |||||||||||||
Other Assets Less Liabilities – 0.8% |
2,042,523 | |||||||||||||
Net Assets – 100% |
$ | 241,187,377 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Long-Term Investments: | ||||||||||||||||
Municipal Bonds |
$ | — | $ | 238,383,348 | $ | — | $ | 238,383,348 | ||||||||
Short-Term Investments: | ||||||||||||||||
Money Market Funds |
761,506 | — | — | 761,506 | ||||||||||||
Total | $ | 761,506 | $ | 238,383,348 | $ | — | $ | 239,144,854 |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
As of February 28, 2014, the cost of investments was $225,924,731.
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2014, were as follows:
Gross unrealized: | ||||
Appreciation |
$ | 14,402,652 | ||
Depreciation |
(1,182,529 | ) | ||
Net unrealized appreciation (depreciation) of investments | $ | 13,220,123 |
Nuveen Investments | 11 |
Nuveen Minnesota Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest 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) | 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of the end of the reporting period. |
(ETM) | Escrowed to maturity. |
12 | Nuveen Investments |
Nuveen Minnesota Municipal Bond Fund
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 98.4% |
||||||||||||||||||
MUNICIPAL BONDS – 98.4% |
||||||||||||||||||
Consumer Staples – 1.0% |
||||||||||||||||||
$ | 1,800 | Moorhead, Minnesota, Recovery Zone Facility Revenue Bonds, American Crystal Sugar Company Project, Series 2010, 5.650%, 6/01/27 |
7/20 at 100.00 | BBB+ | $ | 1,938,096 | ||||||||||||
Education and Civic Organizations – 23.2% |
||||||||||||||||||
660 | Anoka County, Minnesota, Charter School Lease Revenue Bonds, Spectrum Building Company, Series 2012A, 5.000%, 6/01/43 |
No Opt. Call | BBB– | 611,312 | ||||||||||||||
1,500 | Baytown Township, Minnesota, Lease Revenue Bonds, Saint Croix Preparatory Academy Project, Series 2008A, 7.000%, 8/01/38 |
8/16 at 102.00 | BB | 1,554,510 | ||||||||||||||
2,000 | Baytown Township, Minnesota, Lease Revenue Bonds, Saint Croix Preparatory Academy Project, Series 2008, 5.750%, 8/01/42 |
8/16 at 102.00 | BB | 1,885,400 | ||||||||||||||
800 | Chaska, Minnesota, Lease Revenue Bonds, World Learner School Project, Series, 8.000%, 12/01/43 |
12/21 at 100.00 | BB+ | 896,928 | ||||||||||||||
City of Woodbury, Minnesota, Charter School Lease Revenue Bonds, Math and Science Academy Building Company, Series 2012A: |
||||||||||||||||||
220 | 5.000%, 12/01/32 |
No Opt. Call | BBB– | 216,823 | ||||||||||||||
785 | 5.000%, 12/01/43 |
No Opt. Call | BBB– | 742,021 | ||||||||||||||
1,135 | Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy PRoject, Series 2013A, 5.500%, 7/01/43 |
7/23 at 100.00 | BBB– | 1,117,044 | ||||||||||||||
Duluth Housing & Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A: |
||||||||||||||||||
1,750 | 5.600%, 11/01/30 |
11/18 at 102.00 | BBB– | 1,773,170 | ||||||||||||||
875 | 5.875%, 11/01/40 |
11/20 at 100.00 | BBB– | 882,359 | ||||||||||||||
950 | Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2014A, 5.750%, 8/01/44 |
8/22 at 100.00 | BBB– | 958,854 | ||||||||||||||
Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Yinghua Academy Charter School, Series 2013A: |
||||||||||||||||||
2,675 | 6.000%, 7/01/43 |
7/23 at 100.00 | BB | 2,660,127 | ||||||||||||||
1,260 | 6.125%, 7/01/48 |
7/23 at 100.00 | BB | 1,248,269 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, National Marrow Donor Program Project, Series 2010: |
||||||||||||||||||
150 | 4.250%, 8/01/20 |
8/18 at 100.00 | BBB | 155,517 | ||||||||||||||
4,100 | 4.875%, 8/01/25 |
8/18 at 100.00 | BBB | 4,165,600 | ||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Bethel University, Refunding Series 2007-6-R: |
||||||||||||||||||
1,725 | 5.500%, 5/01/26 |
5/17 at 100.00 | N/R | 1,765,244 | ||||||||||||||
820 | 5.500%, 5/01/27 |
5/17 at 100.00 | N/R | 837,917 | ||||||||||||||
1,500 | 5.500%, 5/01/37 |
5/17 at 100.00 | N/R | 1,516,470 | ||||||||||||||
1,835 | Minnesota Higher Education Facilities Authority, Revenue Bonds, College of St. Scholastica, Inc., Series 2011-7J , 6.300%, 12/01/40 |
12/19 at 100.00 | Baa2 | 1,963,799 | ||||||||||||||
1,000 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Gustavus Adolfus College, Series 2010-7B, 5.000%, 10/01/31 |
10/19 at 100.00 | A3 | 1,073,180 |
Nuveen Investments | 13 |
Nuveen Minnesota Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Education and Civic Organizations (continued) |
||||||||||||||||||
Minnesota Higher Education Facilities Authority, Revenue Bonds, Hamline University, Series 2011-7K1: |
||||||||||||||||||
$ | 625 | 6.000%, 10/01/32 |
10/21 at 100.00 | Baa2 | $ | 676,550 | ||||||||||||
2,000 | 6.000%, 10/01/40 |
10/21 at 100.00 | Baa2 | 2,139,940 | ||||||||||||||
30 | Minnesota Higher Education Facilities Authority, Revenue Bonds, Minneapolis College of Art and Design, Refunding Series 2006-6-K, 5.000%, 5/01/26 |
5/15 at 100.00 | Baa2 | 30,309 | ||||||||||||||
1,485 | Moorhead, Minnesota, Golf Course Revneue Refunding Bonds, Series 1998B, 5.875%, 12/01/21 |
5/14 at 100.00 | N/R | 1,485,757 | ||||||||||||||
550 | Ramsey, Anoka County, Minnesota, Lease Revenue Bonds, PACT Charter School Project, Series 2004A, 5.500%, 12/01/33 |
12/21 at 100.00 | BBB– | 562,491 | ||||||||||||||
Saint Paul Housing & Redevelopment Authority , Minnesota, Charter School Lease Revenue Bonds, Hmong Education Reform Company, Series 2012A: |
||||||||||||||||||
500 | 5.250%, 9/01/32 |
No Opt. Call | BB+ | 471,745 | ||||||||||||||
1,695 | 5.500%, 9/01/43 |
9/20 at 101.00 | BB+ | 1,580,638 | ||||||||||||||
1,500 | Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Nova Classical Academy, Series 2011A, 6.625%, 9/01/42 |
9/21 at 100.00 | BBB– | 1,578,420 | ||||||||||||||
1,450 | Saint Paul Housing and Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Twin Cities German Immersion School, Series 2013A, 5.000%, 7/01/44 |
No Opt. Call | BB+ | 1,250,219 | ||||||||||||||
2,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Educational Facility Revenue Refunding Bonds, Saint Paul Academy and Summit School Project, Series 2007, 5.000%, 10/01/24 |
10/17 at 100.00 | A3 | 2,120,640 | ||||||||||||||
2,550 | Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Community of Peace Academy Project, Series 2006A, 5.000%, 12/01/36 |
12/15 at 100.00 | BBB– | 2,455,880 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Saint Paul Conservatory for Performing Artists Charter School Project, Series 2013A: |
||||||||||||||||||
185 | 2.400%, 3/01/17 |
No Opt. Call | BBB– | 182,362 | ||||||||||||||
185 | 2.600%, 3/01/18 |
No Opt. Call | BBB– | 181,219 | ||||||||||||||
640 | 4.625%, 3/01/43 |
3/23 at 100.00 | BBB– | 552,653 | ||||||||||||||
1,300 | St. Paul Housing and Redevelopment Authority, Minnesota, Charter School Revenue Bonds, Higher Ground Academy Charter School, Series 2013A, 5.000%, 12/01/33 |
12/22 at 100.00 | BBB– | 1,258,673 | ||||||||||||||
St. Paul Housing and Redevelopment Authority, Minnesota, Perfromaing Arts Facility Revenue Bonds, Ordway Center for the Performing Arts, Series 2012: |
||||||||||||||||||
330 | 1.950%, 7/01/16 |
No Opt. Call | N/R | 330,152 | ||||||||||||||
200 | 2.050%, 7/01/17 |
No Opt. Call | N/R | 200,058 | ||||||||||||||
1,035 | 2.200%, 7/01/18 |
No Opt. Call | N/R | 1,035,135 | ||||||||||||||
1,540 | University of Minnesota, General Revenue Bonds, Series 2011A, 5.250%, 12/01/29 |
12/20 at 100.00 | Aa1 | 1,829,689 | ||||||||||||||
45,540 | Total Education and Civic Organizations |
45,947,074 | ||||||||||||||||
Health Care – 21.4% |
||||||||||||||||||
2,470 | Chippewa County, Minnesota, Gross Revenue Hospital Bonds, Montevideo Hospital Project, Series 2007, 5.500%, 3/01/37 |
3/17 at 100.00 | N/R | 2,488,327 | ||||||||||||||
Glencoe, Minnesota, Health Care Facilities Revenue Bonds, Glencoe Regional Health Services Project, Series 2013: |
||||||||||||||||||
375 | 4.000%, 4/01/22 |
No Opt. Call | BBB | 389,449 | ||||||||||||||
500 | 4.000%, 4/01/27 |
4/22 at 100.00 | BBB | 491,230 | ||||||||||||||
760 | 4.000%, 4/01/31 |
4/22 at 100.00 | BBB | 723,718 |
14 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 2,500 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2010B, 5.750%, 7/01/40 |
7/20 at 100.00 | A2 | $ | 2,670,575 | ||||||||||||
Maple Grove, Minnesota, Health Care Facilities Revenue Bonds, Maple Grove Hospital Corporation, Series 2007: |
||||||||||||||||||
25 | 5.000%, 5/01/20 |
5/17 at 100.00 | Baa1 | 26,531 | ||||||||||||||
1,800 | 4.500%, 5/01/23 |
5/17 at 100.00 | Baa1 | 1,831,158 | ||||||||||||||
1,000 | 5.250%, 5/01/25 |
5/17 at 100.00 | Baa1 | 1,034,560 | ||||||||||||||
Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A: |
||||||||||||||||||
70 | 6.000%, 11/15/18 |
No Opt. Call | A | 79,174 | ||||||||||||||
3,225 | 6.625%, 11/15/28 |
11/18 at 100.00 | A | 3,812,756 | ||||||||||||||
245 | 6.750%, 11/15/32 |
11/18 at 100.00 | A | 286,003 | ||||||||||||||
685 | Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series 2008B, 6.500%, 11/15/38 – AGC Insured |
11/18 at 100.00 | AA– | 794,114 | ||||||||||||||
130 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children’s Health Care, Series 2004A-1 Remarketed, 4.625%, 8/15/29 – AGM Insured |
8/20 at 100.00 | AA– | 136,855 | ||||||||||||||
2,435 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children’s Health Care, Series 2010A, 5.250%, 8/15/35 |
8/20 at 100.00 | A+ | 2,608,250 | ||||||||||||||
1,005 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2008C-1, 5.000%, 2/15/30 – AGC Insured |
2/20 at 100.00 | AA– | 1,058,928 | ||||||||||||||
135 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2008E, 5.000%, 2/15/37 – AGC Insured |
2/18 at 100.00 | AA– | 138,854 | ||||||||||||||
125 | Minnesota Agricultural and Economic Development Board, Healthcare System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2000A, 6.375%, 11/15/29 |
5/14 at 100.00 | A | 125,568 | ||||||||||||||
1,000 | Monticello-Big Lake Community Hospital District, Minnesota, Gross Revenue Health Care Facilities Bonds, Series 2003C, 6.200%, 12/01/22 |
5/14 at 100.00 | N/R | 1,000,900 | ||||||||||||||
1,700 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2010, 5.875%, 7/01/30 |
7/20 at 100.00 | A– | 1,873,383 | ||||||||||||||
Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2008D: |
||||||||||||||||||
25 | 5.375%, 5/01/31 – AGC Insured |
5/19 at 100.00 | A1 | 26,936 | ||||||||||||||
60 | 5.500%, 5/01/39 – AGC Insured |
5/19 at 100.00 | A1 | 63,978 | ||||||||||||||
1,045 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System Project, Series 2010A, 5.125%, 5/01/30 |
5/20 at 100.00 | A1 | 1,130,972 | ||||||||||||||
1,235 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2008C, 5.750%, 7/01/30 |
7/18 at 100.00 | A | 1,318,251 | ||||||||||||||
Saint Louis Park, Minnesota, Health Care Facilities Revenue Refunding Bonds, Park Nicollet Health Services, Series 2009: |
||||||||||||||||||
15 | 5.500%, 7/01/29 |
7/19 at 100.00 | A | 15,938 | ||||||||||||||
2,625 | 5.750%, 7/01/39 |
7/19 at 100.00 | A | 2,789,325 | ||||||||||||||
2,060 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/36 |
11/16 at 100.00 | A | 2,107,359 | ||||||||||||||
3,060 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-1, 5.250%, 11/15/29 |
11/19 at 100.00 | AA– | 3,334,972 |
Nuveen Investments | 15 |
Nuveen Minnesota Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 300 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Allina Health System, Series 2009A-2, 5.500%, 11/15/24 |
No Opt. Call | AA– | $ | 345,222 | ||||||||||||
2,060 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Gillette Children’s Specialty Healthcare Project, Series 2009, 5.000%, 2/01/29 |
2/19 at 100.00 | A– | 2,124,251 | ||||||||||||||
900 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005A, 5.875%, 5/01/30 |
5/15 at 100.00 | BB+ | 918,810 | ||||||||||||||
1,800 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, HealthEast Midway Campus, Series 2005B, 6.000%, 5/01/30 |
5/15 at 100.00 | N/R | 1,840,392 | ||||||||||||||
1,375 | Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp Project, Series 2007-1, 5.000%, 8/01/36 |
8/16 at 100.00 | N/R | 1,322,943 | ||||||||||||||
St. Paul Housing and Redevelopment Authority, Minnesota, Revenue Bonds, Healtheast Inc., Series 2005: |
||||||||||||||||||
170 | 6.000%, 11/15/25 |
11/15 at 100.00 | BBB– | 175,602 | ||||||||||||||
1,100 | 6.000%, 11/15/30 |
11/15 at 100.00 | BBB– | 1,126,466 | ||||||||||||||
Winona, Minnesota, Health Care Facilities Revenue Bonds, Winona Health Obligated Group, Refunding Series 2012: |
||||||||||||||||||
500 | 3.750%, 7/01/21 |
No Opt. Call | BBB– | 519,025 | ||||||||||||||
350 | 4.000%, 7/01/22 |
7/21 at 100.00 | BBB– | 356,689 | ||||||||||||||
1,270 | 4.500%, 7/01/24 |
7/21 at 100.00 | BBB– | 1,311,631 | ||||||||||||||
40,135 | Total Health Care |
42,399,095 | ||||||||||||||||
Housing/Multifamily – 3.2% |
||||||||||||||||||
1,975 | Maplewood, Minnesota, Mutifamily Housing Revenue Refunding Bonds, Carefree Cottages of Maplewood III Project, Series 2004, 4.800%, 4/15/34 (Mandatory put 4/15/19) (Alternative Minimum Tax) |
4/14 at 100.00 | Aaa | 1,981,458 | ||||||||||||||
845 | Minneapolis, Minnesota, GNMA Collateralized Multifamily Housing Revenue Bonds, Vantage Flats Project, Series 2007, 5.200%, 10/20/48 (Alternative Minimum Tax) |
10/15 at 100.00 | Aa1 | 852,309 | ||||||||||||||
1,050 | Minneapolis, Minnesota, Multifamily Housing Revenue Bonds, Keeler Apartments, Series 2007A, 5.000%, 10/01/37 |
10/15 at 102.00 | N/R | 948,948 | ||||||||||||||
2,500 | Rochester, Minnesota, Multifamily Housing Revenue Bonds, Essex Place Apartments Project, Series 2012A, 3.750%, 6/01/29 |
6/22 at 100.00 | Aaa | 2,516,700 | ||||||||||||||
6,370 | Total Housing/Multifamily |
6,299,415 | ||||||||||||||||
Housing/Single Family – 2.3% |
||||||||||||||||||
110 | Minneapolis-Saint Paul Housing Finance Board, Minnesota, Single Family Mortgage Revenue Bonds, City Living Home Program, Market Series 2011B, 4.100%, 12/01/29 |
6/21 at 100.00 | AA+ | 113,801 | ||||||||||||||
104 | Minneapolis-Saint Paul Housing Finance Board, Minnesota, Single Family Mortgage Revenue Bonds, City Living Series 2006A-4, 5.000%, 11/01/38 (Alternative Minimum Tax) |
7/16 at 100.00 | AA+ | 107,722 | ||||||||||||||
570 | Minneapolis-Saint Paul Housing Finance Board, Minnesota, Single Family Mortgage Revenue Bonds, City Living Series 2007A-2, 5.520%, 3/01/41 (Alternative Minimum Tax) |
5/17 at 102.00 | AA+ | 612,277 | ||||||||||||||
Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011B: |
||||||||||||||||||
80 | 4.000%, 7/01/21 |
No Opt. Call | Aaa | 87,052 | ||||||||||||||
5 | 5.000%, 1/01/31 |
7/21 at 100.00 | Aaa | 5,297 | ||||||||||||||
Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011D: |
||||||||||||||||||
45 | 4.375%, 7/01/26 |
7/21 at 100.00 | Aaa | 47,573 | ||||||||||||||
660 | 4.700%, 1/01/31 |
7/21 at 100.00 | Aaa | 698,795 |
16 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Single Family (continued) |
||||||||||||||||||
$ | 25 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2011E, 4.000%, 7/01/26 |
7/21 at 100.00 | Aaa | $ | 25,967 | ||||||||||||
30 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2006Q, 5.250%, 7/01/33 (Alternative Minimum Tax) |
7/17 at 100.00 | AA+ | 30,698 | ||||||||||||||
2,800 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007D, 4.700%, 7/01/27 (Alternative Minimum Tax) |
7/16 at 100.00 | AA+ | 2,837,632 | ||||||||||||||
65 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%, 7/01/38 (Alternative Minimum Tax) |
7/16 at 100.00 | AA+ | 65,410 | ||||||||||||||
5 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007L, 5.100%, 7/01/38 (Alternative Minimum Tax) |
1/17 at 100.00 | AA+ | 5,263 | ||||||||||||||
5 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2008B, 5.650%, 7/01/33 (Alternative Minimum Tax) |
1/18 at 100.00 | AA+ | 5,260 | ||||||||||||||
4,504 | Total Housing/Single Family |
4,642,747 | ||||||||||||||||
Long-Term Care – 10.3% |
||||||||||||||||||
1,500 | Anoka County Housing and Redevelopment Authority, Minnesota, Health Care Facility Care Center Project, Series 2010D, 6.750%, 11/01/36 |
11/15 at 102.00 | N/R | 1,532,490 | ||||||||||||||
1,600 | Center City, Minnesota, Health Care Facilities Revenue Bonds, Hazelden Foundation Project, Series 2011, 5.000%, 11/01/41 |
11/19 at 100.00 | A3 | 1,650,896 | ||||||||||||||
1,500 | Chisago City, Minnesota, Housing and Health Care Revenue Bonds, CDL Homes, LLC Project, Series 2013B, 6.000%, 8/01/43 |
8/23 at 100.00 | N/R | 1,521,465 | ||||||||||||||
1,125 | Cold Spring, Minnesota, Health Care Facilities Revenue Bonds, Assumption Home, Inc., Refunding Series 2013, 5.200%, 3/01/43 |
7/20 at 100.00 | N/R | 1,053,945 | ||||||||||||||
805 | Cottage Grove, Minnesota, Senior Housing Revenue Bonds, PHS/Cottage Grove, Inc., Project, Series 2006A, 5.000%, 12/01/31 |
12/14 at 100.00 | N/R | 784,593 | ||||||||||||||
Minneapolis, Minnesota, Revenue Bonds, Walker Minneapolis Campus Project, Refunding Series 2012: |
||||||||||||||||||
450 | 5.000%, 11/15/24 |
11/22 at 100.00 | N/R | 457,277 | ||||||||||||||
1,500 | 4.750%, 11/15/28 |
11/22 at 100.00 | N/R | 1,429,590 | ||||||||||||||
1,620 | Moorhead, Minnesota, Senior Housing Facility Revenue Bonds, Sheyenne Crossings Project, Series 2006, 5.650%, 4/01/41 |
4/14 at 101.00 | N/R | 1,610,118 | ||||||||||||||
1,000 | Oak Park Heights, Minnesota, Senior Housing Revenue Bonds, Oakgreen Commons Project ? Memory Care Building, Series 2013, 6.500%, 8/01/43 |
8/20 at 102.00 | N/R | 1,028,640 | ||||||||||||||
1,100 | Saint Paul Housing & Redevelopment Authority, Minnesota, Revenue Bonds, Rossy & Richard Shaller Family Sholom East Campus, Series 2007A, 5.250%, 10/01/42 |
10/17 at 100.00 | N/R | 991,254 | ||||||||||||||
2,059 | Saint Paul Housing and Redevelopment Authority, Minnesota, Nursing Home Revneue Bonds, Episcopal Homes of Minnesota, Series 2006, 5.630%, 10/01/33 |
4/17 at 100.00 | N/R | 2,047,742 | ||||||||||||||
1,000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Senior Housing and Health Care Revenue Bonds, Episcopal Homes Project, Refunding Series 2012A, 5.150%, 11/01/42 |
No Opt. Call | N/R | 899,200 | ||||||||||||||
700 | Sartell, Minnesota, Health Care and Housing Facilities Revenue Bonds, Country Manor Campus LLC Project, Series 2012A, 5.250%, 9/01/30 |
9/22 at 100.00 | N/R | 672,007 | ||||||||||||||
1,715 | Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd Luthran Home, Refunding Series 2013, 5.125%, 1/01/39 |
1/23 at 100.00 | N/R | 1,555,145 | ||||||||||||||
Wayzata, Minnesota, Senior Housing Revenue Bonds, Folkestone Senior Living Community, Series 2012A: |
||||||||||||||||||
260 | 5.000%, 5/01/23 |
5/19 at 102.00 | N/R | 269,009 |
Nuveen Investments | 17 |
Nuveen Minnesota Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Long-Term Care (continued) |
||||||||||||||||||
$ | 680 | 5.000%, 11/01/23 |
5/19 at 102.00 | N/R | $ | 703,562 | ||||||||||||
700 | 5.500%, 11/01/32 |
5/19 at 102.00 | N/R | 712,390 | ||||||||||||||
330 | 6.000%, 5/01/47 |
5/19 at 102.00 | N/R | 341,157 | ||||||||||||||
1,200 | West St. Paul, Minnesota, Health Care Facilities Revenue Bonds, Walker Thompson Hill LLC Project, Series 2011A, 7.000%, 9/01/46 |
9/19 at 100.00 | N/R | 1,227,864 | ||||||||||||||
20,844 | Total Long-Term Care |
20,488,344 | ||||||||||||||||
Materials – 1.8% |
||||||||||||||||||
4,500 | Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012-7, 4.500%, 10/01/37 (Alternative Minimum Tax) |
10/22 at 100.00 | BBB– | 3,610,215 | ||||||||||||||
Tax Obligation/General – 8.0% |
||||||||||||||||||
1,000 | Bemidji Independent School District 31, Beltrami County, Minnesota, General Obligation Bonds, Refunding Series 2013A, 5.000%, 4/01/19 |
No Opt. Call | AA+ | 1,191,510 | ||||||||||||||
10,000 | Bemidji, Minnesota, General Obligation Bonds, Refunding Sales Tax Series 2011, 6.000%, 2/01/41 |
2/21 at 100.00 | Aa3 | 11,502,097 | ||||||||||||||
1,000 | Buffalo-Hanover-Montrose Independent School District 877, Minnesota, General Obligation Bonds, Refunding Series 2012A, 4.000%, 2/01/23 |
2/22 at 100.00 | Aa2 | 1,106,070 | ||||||||||||||
2,000 | Mankato Independent School District 77, Minnesota, General Obligation Bonds, School Building Series 2014A, 4.000%, 2/01/28 |
2/24 at 100.00 | AA+ | 2,130,560 | ||||||||||||||
14,000 | Total Tax Obligation/General |
15,930,237 | ||||||||||||||||
Tax Obligation/Limited – 4.9% |
||||||||||||||||||
Duluth Independent School District 709, Minnesota, Certificates of Participation, Capital Appreciation Series 2012A: |
||||||||||||||||||
2,000 | 0.000%, 2/01/27 – AGM Insured |
2/22 at 100.00 | Aa2 | 1,178,500 | ||||||||||||||
2,840 | 0.000%, 2/01/28 – AGM Insured |
2/22 at 77.70 | Aa2 | 1,588,582 | ||||||||||||||
2,000 | Duluth Independent School District 709, Minnesota, Certificates of Participation, Series 2008B, 4.000%, 2/01/19 |
No Opt. Call | AA+ | 2,268,680 | ||||||||||||||
585 | Lakeville Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Ice Arena Project, Series 2006, 4.625%, 2/01/32 |
2/17 at 100.00 | Aa3 | 597,835 | ||||||||||||||
400 | Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village at St. Anthony Falls Project, Refunding Series 2005, 5.650%, 2/01/27 |
5/14 at 100.00 | N/R | 390,664 | ||||||||||||||
Northeast Metropolitan Intermediate School District 916, White Bear Lake, Minnesota, Certificates of Participation, Series 2013A: |
||||||||||||||||||
1,015 | 4.000%, 2/01/22 |
No Opt. Call | A1 | 1,101,184 | ||||||||||||||
1,055 | 4.000%, 2/01/23 |
No Opt. Call | A1 | 1,129,768 | ||||||||||||||
500 | Saint Paul Housing and Redevelopment Authority, Minnesota, Recreational Faility Lease Revenue Bonds, Jimmy Lee Recreational Center, Series 2008, 4.750%, 12/01/26 |
12/17 at 100.00 | AA+ | 525,990 | ||||||||||||||
Saint Paul Housing and Redevelopment Authority, Minnesota, Upper Landing Project Tax Increment Revenue Refunding Bonds, Series 2012: |
||||||||||||||||||
150 | 5.000%, 9/01/26 |
No Opt. Call | N/R | 149,861 | ||||||||||||||
800 | 5.000%, 3/01/29 |
No Opt. Call | N/R | 790,848 | ||||||||||||||
25 | Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2009B, 5.000%, 10/01/25 |
10/19 at 100.00 | BBB | 26,520 | ||||||||||||||
11,370 | Total Tax Obligation/Limited |
9,748,432 |
18 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Transportation – 4.4% |
||||||||||||||||||
$ | 1,000 | Minneapolis, Minnesota, Recovery Zone Facility Revenue Bonds, Mozaic Parking, LLC Project, Series 2010A, 8.500%, 1/01/41 |
1/21 at 100.00 | N/R | $ | 1,022,620 | ||||||||||||
4,000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2009B, 5.000%, 1/01/20 (Alternative Minimum Tax) |
1/19 at 100.00 | AA– | 4,599,880 | ||||||||||||||
110 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien, Refunding Series 2011A, 3.500%, 1/01/24 |
1/21 at 100.00 | A | 112,999 | ||||||||||||||
275 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien, Refunding Series 2012B, 5.000%, 1/01/28 |
No Opt. Call | A | 303,757 | ||||||||||||||
St Paul Housing and Redevelopment Authority, Minnesota, Parking Revenue Bonds, Parking Facilities Project, Refunding Series 2010A: |
||||||||||||||||||
1,070 | 5.000%, 8/01/30 |
8/18 at 102.00 | A+ | 1,161,325 | ||||||||||||||
1,500 | 5.000%, 8/01/35 |
8/18 at 102.00 | A+ | 1,591,200 | ||||||||||||||
7,955 | Total Transportation |
8,791,781 | ||||||||||||||||
U.S. Guaranteed – 1.8% (4) |
||||||||||||||||||
Pine County Housing and Redevelopment Authority, Minnesota, Public Project Revenue Bonds, Series 2005A: |
||||||||||||||||||
1,000 | 5.000%, 2/01/28 (Pre-refunded 2/01/16) |
2/16 at 100.00 | AA– (4) | 1,087,610 | ||||||||||||||
1,890 | 5.000%, 2/01/31 (Pre-refunded 2/01/16) |
2/16 at 100.00 | AA– (4) | 2,055,583 | ||||||||||||||
410 | Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 1983A, 9.750%, 1/01/16 – NPFG Insured (ETM) |
No Opt. Call | Aaa | 464,005 | ||||||||||||||
3,300 | Total U.S. Guaranteed |
3,607,198 | ||||||||||||||||
Utilities – 16.1% |
||||||||||||||||||
1,110 | Central Minnesota Municipal Power Agency, Revenue Bonds, Brookings – Southeast Twin Cities Transmission Project, Series 2012, 5.000%, 1/01/42 |
1/22 at 100.00 | A– | 1,160,072 | ||||||||||||||
15 | Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Refunding Series 2005A, 5.000%, 10/01/30 |
10/15 at 100.00 | A3 | 15,725 | ||||||||||||||
45 | Chaska, Minnesota, Electric Revenue Bonds, Generating Facility Project, Series 2000A, 6.100%, 10/01/30 |
5/14 at 100.00 | A3 | 45,194 | ||||||||||||||
235 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 |
10/22 at 100.00 | BBB | 234,539 | ||||||||||||||
5,045 | Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2010A, 5.000%, 10/01/30 |
10/20 at 100.00 | A3 | 5,451,425 | ||||||||||||||
2,000 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2007A, 5.000%, 1/01/26 – AMBAC Insured |
1/18 at 100.00 | A– | 2,229,780 | ||||||||||||||
Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2008A: |
||||||||||||||||||
945 | 5.000%, 1/01/18 – AGC Insured |
No Opt. Call | AA– | 1,088,838 | ||||||||||||||
75 | 5.000%, 1/01/20 – AGC Insured |
1/18 at 100.00 | AA– | 83,883 | ||||||||||||||
Rochester, Minnesota, Electric Utility Revenue Bonds, Refunding Series 2013B: |
||||||||||||||||||
805 | 5.000%, 12/01/20 |
No Opt. Call | Aa3 | 969,188 | ||||||||||||||
250 | 5.000%, 12/01/26 |
12/23 at 100.00 | Aa3 | 292,533 | ||||||||||||||
Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 1994A: |
||||||||||||||||||
1,510 | 0.000%, 1/01/19 – NPFG Insured |
No Opt. Call | A+ | 1,383,855 | ||||||||||||||
1,825 | 0.000%, 1/01/21 – NPFG Insured |
No Opt. Call | A+ | 1,531,412 | ||||||||||||||
65 | 0.000%, 1/01/22 – NPFG Insured |
No Opt. Call | A+ | 51,903 |
Nuveen Investments | 19 |
Nuveen Minnesota Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
$ | 3,055 | 0.000%, 1/01/23 – NPFG Insured |
No Opt. Call | A+ | $ | 2,317,370 | ||||||||||||
10,530 | 0.000%, 1/01/24 – NPFG Insured |
No Opt. Call | A+ | 7,615,401 | ||||||||||||||
4,795 | 0.000%, 1/01/25 – NPFG Insured |
No Opt. Call | A+ | 3,291,672 | ||||||||||||||
6,230 | 0.000%, 1/01/26 – NPFG Insured |
No Opt. Call | A+ | 4,087,877 | ||||||||||||||
38,535 | Total Utilities |
31,850,667 | ||||||||||||||||
$ | 198,853 | Total Long-Term Investments (cost $185,851,287) |
195,253,301 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS – 0.7% |
||||||||||||||||||
Money Market Funds – 0.7% |
||||||||||||||||||
1,449,276 | Federated Minnesota Municipal Cash Trust, 0.010% (5) |
$ | 1,449,276 | |||||||||||||||
Total Short-Term Investments (cost $1,449,276) |
1,449,276 | |||||||||||||||||
Total Investments (cost $187,300,563) – 99.1% |
196,702,577 | |||||||||||||||||
Other Assets Less Liabilities – 0.9% |
1,871,473 | |||||||||||||||||
Net Assets – 100% |
$ | 198,574,050 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Long-Term Investments: | ||||||||||||||||
Municipal Bonds |
$ | — | $ | 195,253,301 | $ | — | $ | 195,253,301 | ||||||||
Short-Term Investments: | ||||||||||||||||
Money Market Funds |
1,449,276 | — | — | 1,449,276 | ||||||||||||
Total | $ | 1,449,276 | $ | 195,253,301 | $ | — | $ | 196,702,577 |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
20 | Nuveen Investments |
As of February 28, 2014, the cost of investments was $186,844,161.
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2014, were as follows:
Gross unrealized: | ||||
Appreciation |
$ | 12,070,226 | ||
Depreciation |
(2,211,810 | ) | ||
Net unrealized appreciation (depreciation) of investments | $ | 9,858,416 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest 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) | 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of the end of the reporting period. |
(ETM) | Escrowed to maturity. |
Nuveen Investments | 21 |
Nuveen Nebraska Municipal Bond Fund
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 95.9% |
||||||||||||||||||
MUNICIPAL BONDS – 95.9% |
||||||||||||||||||
Education and Civic Organizations – 15.6% |
||||||||||||||||||
$ | 990 | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Academy of Charter Schools Project, Series 2008, 5.625%, 5/01/40 |
5/18 at 100.00 | A | $ | 1,030,560 | ||||||||||||
1,000 | Douglas County, Nebraska, Educational Facilities Revenue Bonds, Creighton University Projects, Refunding Series 2010A, 5.500%, 7/01/30 |
7/20 at 100.00 | A3 | 1,092,890 | ||||||||||||||
Lincoln, Nebraska, Educational Facilities Revenue and Refunding Bonds, Nebraska Wesleyan University Project, Series 2012: |
||||||||||||||||||
685 | 3.300%, 4/01/25 |
4/22 at 100.00 | A– | 673,766 | ||||||||||||||
410 | 4.000%, 4/01/32 |
4/22 at 100.00 | A– | 409,098 | ||||||||||||||
500 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University, Series 2008A, 5.375%, 3/15/39 |
3/18 at 100.00 | AAA | 551,855 | ||||||||||||||
525 | Nebraska Educational Finance Authority, Revenue Bonds, Clarkson College Project, Refunding Series 2011, 5.450%, 9/01/35 |
5/21 at 100.00 | Aa3 | 565,451 | ||||||||||||||
750 | Saline County, Nebraska, Educational Facilities Revenue and Refunding Bonds, Doane College Project, Series 2013A, 3.300%, 2/15/33 |
2/18 at 100.00 | A | 658,125 | ||||||||||||||
University of Nebraska, Revenue Bonds, Lincoln Student Fees and Facilities Refunding Series 2011: |
||||||||||||||||||
85 | 4.000%, 7/01/32 |
1/22 at 100.00 | Aa1 | 87,039 | ||||||||||||||
1,125 | 5.000%, 7/01/42 |
1/22 at 100.00 | Aa1 | 1,208,250 | ||||||||||||||
1,170 | University of Nebraska, Revenue Bonds, Lincoln Student Fees and Facilities, Refunding Series 2012, 4.000%, 7/01/33 |
7/22 at 100.00 | Aa1 | 1,198,747 | ||||||||||||||
1,020 | University of Nebraska, Revenue Bonds, Omaha Health & Recreation Project, Series 2008, 5.000%, 5/15/33 |
5/18 at 100.00 | Aa1 | 1,091,543 | ||||||||||||||
350 | University of Nebraska, Revenue Bonds, Omaha Student Facilities Project, Series 2007, 5.000%, 5/15/32 |
5/17 at 100.00 | Aa1 | 380,629 | ||||||||||||||
500 | University of Nebraska, Revenue Bonds, Omaha Student Housing Project, Series 2003, 5.000%, 5/15/23 |
5/14 at 100.00 | Aa1 | 502,080 | ||||||||||||||
9,110 | Total Education and Civic Organizations |
9,450,033 | ||||||||||||||||
Health Care – 13.3% |
||||||||||||||||||
1,000 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Refunding Bonds, Children’s Hospital Obligated Group, Series 2008B, 6.000%, 8/15/28 |
8/17 at 100.00 | A2 | 1,063,410 | ||||||||||||||
Douglas County Hospital Authority 3, Nebraska, Health Facilities Refunding and Revenue Bonds, Nebraska Methodist Health System, Series 2008: |
||||||||||||||||||
345 | 5.750%, 11/01/28 |
11/18 at 100.00 | BBB+ | 363,420 | ||||||||||||||
1,210 | 5.500%, 11/01/38 |
11/18 at 100.00 | BBB+ | 1,241,436 | ||||||||||||||
610 | Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.000%, 6/01/38 |
6/16 at 100.00 | A– | 594,884 | ||||||||||||||
Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012: |
||||||||||||||||||
2,220 | 4.000%, 11/01/37 |
No Opt. Call | A– | 1,990,541 | ||||||||||||||
2,775 | 5.000%, 11/01/42 |
No Opt. Call | A– | 2,836,910 | ||||||||||||||
8,160 | Total Health Care |
8,090,601 |
22 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Single Family – 1.2% |
||||||||||||||||||
Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2013C: |
||||||||||||||||||
$ | 550 | 2.550%, 1/01/22 |
No Opt. Call | AA+ | $ | 541,706 | ||||||||||||
195 | 2.750%, 7/01/23 |
1/23 at 100.00 | AA+ | 194,124 | ||||||||||||||
745 | Total Housing/Single Family |
735,830 | ||||||||||||||||
Long-Term Care – 9.8% |
||||||||||||||||||
100 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Communities Project, Series 2006A, 5.750%, 1/01/26 |
1/17 at 100.00 | N/R | 101,665 | ||||||||||||||
250 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan, Series 2009B, 5.000%, 6/01/39 (Mandatory put 12/01/14) |
No Opt. Call | A– | 257,028 | ||||||||||||||
900 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.625%, 1/01/40 |
1/20 at 100.00 | AA– | 950,031 | ||||||||||||||
240 | Illinois Finance Authority, Revenue Bonds, Three Crowns Park Plaza, Series 2006A, 5.875%, 2/15/26 |
2/16 at 100.00 | N/R | 241,591 | ||||||||||||||
3,385 | Lancaster County Hospital Authority 1, Nebraska, Health Facilities Revenue Bonds, Immanuel Obligated Group, Refunding Series 2010, 5.625%, 1/01/40 |
1/20 at 100.00 | AA– | 3,573,169 | ||||||||||||||
600 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Westhills Village Retirement Community Project, Series 2006, 5.000%, 9/01/25 |
9/14 at 100.00 | A | 601,986 | ||||||||||||||
220 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/23 |
No Opt. Call | A– | 242,752 | ||||||||||||||
5,695 | Total Long-Term Care |
5,968,222 | ||||||||||||||||
Tax Obligation/General – 14.2% |
||||||||||||||||||
350 | Douglas County School District 059, Nebraska, General Obligation Bonds, School Building Series 2011B, 4.700%, 12/15/32 |
5/16 at 100.00 | Aa2 | 365,008 | ||||||||||||||
2,400 | Douglas County School District 1, Nebraska, General Obligation Bonds, Refunding Series 2012, 5.000%, 6/15/24 |
No Opt. Call | AAA | 2,923,392 | ||||||||||||||
1,025 | Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools Series 2012, 3.500%, 1/15/33 |
1/22 at 100.00 | AA– | 978,076 | ||||||||||||||
1,545 | Morrill County School District 63, Nebraska, General Obligation Bonds, Bridgeport Public Schools Series 2014, 4.000%, 12/01/34 |
2/19 at 100.00 | A1 | 1,552,354 | ||||||||||||||
Omaha, Nebraska, General Obligation Bonds, Convention Center Project, Series 2004: |
||||||||||||||||||
50 | 5.250%, 4/01/24 |
No Opt. Call | AA+ | 61,844 | ||||||||||||||
220 | 5.250%, 4/01/26 |
No Opt. Call | AA+ | 273,687 | ||||||||||||||
450 | Omaha, Nebraska, General Obligation Bonds, Refunding Series 2008, 5.750%, 10/15/28 |
10/18 at 100.00 | AA+ | 522,131 | ||||||||||||||
Omaha, Nebraska, General Obligation Bonds, Various Purpose & Refunding Series 2013A: |
||||||||||||||||||
715 | 4.500%, 11/15/28 |
11/23 at 100.00 | AA+ | 784,920 | ||||||||||||||
365 | 4.500%, 11/15/29 |
11/23 at 100.00 | AA+ | 397,175 | ||||||||||||||
650 | Omaha, Nebraska, Special Tax Redevelopment Bonds, Redevelopment 2008, 5.250%, 10/15/28 |
10/18 at 100.00 | AA+ | 732,882 | ||||||||||||||
7,770 | Total Tax Obligation/General |
8,591,469 | ||||||||||||||||
Tax Obligation/Limited – 10.0% |
||||||||||||||||||
265 | Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.125%, 1/01/42 |
1/22 at 100.00 | A | 269,256 | ||||||||||||||
2,510 | Lincoln- West Haymarket Joint Public Agency, Nebraska, General Obligation Facility Bonds, Series 2011, 5.000%, 12/15/42 |
12/21 at 100.00 | AAA | 2,700,057 |
Nuveen Investments | 23 |
Nuveen Nebraska Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/Limited (continued) |
||||||||||||||||||
Nebraska Cooperative Republican Platte Enhancement, Middle Republica Natural Resources District, Platte River Flow Revenue, Series 2013: |
||||||||||||||||||
$ | 2,000 | 5.125%, 12/15/33 |
9/18 at 100.00 | A+ | $ | 2,075,200 | ||||||||||||
520 | 5.000%, 12/15/38 |
9/18 at 100.00 | A+ | 534,087 | ||||||||||||||
500 | Papio-Missouri River Natural Resources District, Nebraska, Flood Protection and Water Quality Enhancement Revenue Bonds, Series 2013, 4.250%, 12/15/33 |
7/18 at 100.00 | AA– | 507,520 | ||||||||||||||
5,795 | Total Tax Obligation/Limited |
6,086,120 | ||||||||||||||||
Transportation – 0.3% |
||||||||||||||||||
165 | Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax) |
10/23 at 100.00 | BBB | 174,067 | ||||||||||||||
U.S. Guaranteed – 1.0% (4) |
||||||||||||||||||
Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Jackson County, Schneck Memorial Hospital, Series 2006A: |
||||||||||||||||||
250 | 5.250%, 2/15/30 (Pre-refunded 2/15/16) |
2/16 at 100.00 | A (4) | 272,045 | ||||||||||||||
350 | 5.250%, 2/15/30 (Pre-refunded 2/15/16) |
2/16 at 100.00 | A (4) | 354,022 | ||||||||||||||
600 | Total U.S. Guaranteed |
626,067 | ||||||||||||||||
Utilities – 26.2% |
||||||||||||||||||
Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A: |
||||||||||||||||||
20 | 5.250%, 12/01/19 |
No Opt. Call | A | 23,176 | ||||||||||||||
800 | 5.250%, 12/01/21 |
No Opt. Call | A | 913,616 | ||||||||||||||
2,900 | Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/42 |
9/22 at 100.00 | A | 2,936,076 | ||||||||||||||
585 | Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2006, 4.650%, 8/01/23 – AMBAC Insured |
8/16 at 100.00 | A1 | 629,156 | ||||||||||||||
235 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 |
10/22 at 100.00 | BBB | 234,539 | ||||||||||||||
Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series 2009A: |
||||||||||||||||||
555 | 5.000%, 4/01/18 – BHAC Insured |
No Opt. Call | AA+ | 646,825 | ||||||||||||||
75 | 5.000%, 4/01/19 – BHAC Insured |
No Opt. Call | AA+ | 88,792 | ||||||||||||||
Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Refunding Series 2012A: |
||||||||||||||||||
100 | 5.000%, 4/01/22 |
No Opt. Call | A | 117,393 | ||||||||||||||
110 | 5.000%, 4/01/31 |
4/22 at 100.00 | A | 118,363 | ||||||||||||||
Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Refunding Series 2013A: |
||||||||||||||||||
500 | 5.000%, 4/01/18 |
No Opt. Call | A | 579,005 | ||||||||||||||
500 | 5.000%, 4/01/19 |
No Opt. Call | A | 585,880 | ||||||||||||||
520 | Nebraska Public Power District, General Revenue Bonds, Series 2008B, 5.000%, 1/01/33 |
1/18 at 100.00 | A1 | 553,254 | ||||||||||||||
2,205 | Nebraska Public Power District, General Revenue Bonds, Series 2012A, 5.000%, 1/01/34 |
1/22 at 100.00 | A1 | 2,391,433 | ||||||||||||||
500 | Nebraska Utility Corporation, Facilities Revenue Refunding Bonds, Series 2010, 5.000%, 1/01/22 |
1/21 at 100.00 | Aa1 | 586,550 | ||||||||||||||
Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2008A: |
||||||||||||||||||
1,010 | 5.500%, 2/01/33 |
2/18 at 100.00 | AA | 1,117,262 | ||||||||||||||
1,200 | 5.500%, 2/01/35 |
2/18 at 100.00 | AA | 1,327,440 |
24 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Utilities (continued) |
||||||||||||||||||
Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2011A: |
||||||||||||||||||
$ | 200 | 4.000%, 2/01/18 |
No Opt. Call | AA | $ | 225,212 | ||||||||||||
50 | 5.000%, 2/01/20 |
No Opt. Call | AA | 59,798 | ||||||||||||||
10 | Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Subordinate Lien Series 2005, 4.250%, 2/01/35 – BHAC Insured |
8/15 at 100.00 | AA+ | 10,066 | ||||||||||||||
1,500 | Southern Nebraska Public Power District, Electric System Revenue Bonds, Series 2008, 5.250%, 12/15/28 |
12/18 at 100.00 | AA– | 1,706,160 | ||||||||||||||
1,000 | Twin Valleys Public Power District, Nebraska, Electric System Revenue Bonds, Series 2011, 5.000%, 9/15/35 |
6/16 at 100.00 | N/R | 1,019,040 | ||||||||||||||
14,575 | Total Utilities |
15,869,036 | ||||||||||||||||
Water and Sewer – 4.3% |
||||||||||||||||||
1,000 | Lincoln, Nebraska, Water Revenue Bonds, Refunding Series 2013, 5.000%, 8/15/20 |
No Opt. Call | Aa1 | 1,204,390 | ||||||||||||||
1,395 | Omaha, Nebraska, Sanitary Sewage System Revenue Bonds, Series 2011, 4.250%, 11/15/41 |
11/21 at 100.00 | AA | 1,420,195 | ||||||||||||||
2,395 | Total Water and Sewer |
2,624,585 | ||||||||||||||||
$ | 55,010 | Total Long-Term Investments (cost $56,768,929) |
58,216,030 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS – 3.3% |
||||||||||||||||||
Money Market Funds – 3.3% |
||||||||||||||||||
1,984,314 | First American Tax Free Obligations Fund, Class Z, 0.000% (5) |
$ | 1,984,314 | |||||||||||||||
Total Short-Term Investments (cost $1,984,314) |
1,984,314 | |||||||||||||||||
Total Investments (cost $58,753,243) – 99.2% |
60,200,344 | |||||||||||||||||
Other Assets Less Liabilities – 0.8% |
485,921 | |||||||||||||||||
Net Assets – 100% |
$ | 60,686,265 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
Nuveen Investments | 25 |
Nuveen Nebraska Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Long-Term Investments: | ||||||||||||||||
Municipal Bonds |
$ | — | $ | 58,216,030 | $ | — | $ | 58,216,030 | ||||||||
Short-Term Investments: | ||||||||||||||||
Money Market Funds |
1,984,314 | — | — | 1,984,314 | ||||||||||||
Total | $ | 1,984,314 | $ | 58,216,030 | $ | — | $ | 60,200,344 |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
As of February 28, 2014, the cost of investments was $58,537,074.
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2014, were as follows:
Gross unrealized: | ||||
Appreciation |
$ | 2,163,269 | ||
Depreciation |
(499,999 | ) | ||
Net unrealized appreciation (depreciation) of investments | $ | 1,663,270 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest 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) | 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of the end of the reporting period. |
26 | Nuveen Investments |
Nuveen Oregon Intermediate Municipal Bond Fund
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
LONG-TERM INVESTMENTS – 99.3% |
||||||||||||||||||
MUNICIPAL BONDS – 99.3% |
||||||||||||||||||
Education and Civic Organizations – 8.8% |
||||||||||||||||||
$ | 2,350 | Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Refunding Series 2005A, 5.000%, 5/01/22 – RAAI Insured |
5/15 at 100.00 | BBB | $ | 2,389,856 | ||||||||||||
940 | Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Refunding Series 2014A, 4.500%, 5/01/29 (WI/DD, Settling 3/20/14) |
5/22 at 100.00 | BBB | 939,944 | ||||||||||||||
1,140 | Oregon State Facilities Authority, Revenue Bonds, Concordia University Project, Series 2010A, 6.125%, 9/01/30 |
9/20 at 100.00 | BB+ | 1,178,566 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, Lewis & Clark College Project, Refunding Series 2011A: |
||||||||||||||||||
625 | 4.000%, 10/01/17 |
No Opt. Call | A– | 680,794 | ||||||||||||||
500 | 5.250%, 10/01/24 |
10/21 at 100.00 | A– | 566,060 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Bonds, Linfield College, Refunding Series 2005A, 5.000%, 10/01/25 |
10/15 at 100.00 | Baa1 | 1,017,050 | ||||||||||||||
500 | Oregon State Facilities Authority, Revenue Bonds, Linfield College, Series 2010A, 4.750%, 10/01/28 |
10/20 at 100.00 | Baa1 | 517,275 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Bonds, Reed College, Refunding Series 2011A, 5.000%, 7/01/29 |
7/20 at 100.00 | Aa2 | 1,101,020 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, University of Portland Projects, Series 2007A: |
||||||||||||||||||
250 | 5.000%, 4/01/17 |
No Opt. Call | BBB+ | 275,220 | ||||||||||||||
2,000 | 4.500%, 4/01/21 |
4/18 at 100.00 | BBB+ | 2,112,720 | ||||||||||||||
210 | Oregon State Facilities Authority, Revenue Bonds, Willamette University, Refunding Series 2010A, 4.000%, 10/01/24 |
4/20 at 100.00 | A | 220,204 | ||||||||||||||
1,085 | Oregon State Facilities Authority, Revenue Bonds, Willamette University, Series 2007A, 4.300%, 10/01/21 |
10/17 at 100.00 | A | 1,133,792 | ||||||||||||||
400 | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Fin Authority, Higher Ed Rev and Rev Refunding Bonds, University of the Sacred Heart Project, Series 2012, 5.000%, 10/01/22 |
No Opt. Call | BBB | 372,664 | ||||||||||||||
12,000 | Total Education and Civic Organizations |
12,505,165 | ||||||||||||||||
Health Care – 19.3% |
||||||||||||||||||
1,035 | Astoria Hospital Facilities Authority, Oregon, Hospital Revenue and Refunding Bonds, Columbia Memorial Hospital, Series 2012, 5.000%, 8/01/23 |
8/22 at 100.00 | BBB– | 1,114,260 | ||||||||||||||
1,000 | Clackamas County Hospital Facility Authority, Oregon, Revenue Bonds, Legacy Health System, Series 2009A, 5.000%, 7/15/21 |
7/19 at 100.00 | A+ | 1,110,260 | ||||||||||||||
250 | Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Bonds, Cascade Healthcare Community, Inc., Series 2005B, 5.000%, 1/01/16 – AMBAC Insured |
No Opt. Call | A2 | 264,423 | ||||||||||||||
1,500 | Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Refunding Bonds, Cascade Healthcare Community, Inc., Series 2008, 7.375%, 1/01/23 |
1/19 at 100.00 | A2 | 1,766,220 | ||||||||||||||
810 | Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Merle West Medical Center Project, Series 2006, 4.750%, 9/01/20 – AGC Insured |
9/16 at 100.00 | AA– | 854,510 |
Nuveen Investments | 27 |
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Health Care (continued) |
||||||||||||||||||
$ | 500 | Klamath Falls Intercommunity Hospital Authority, Oregon, Revenue Bonds, Sky Lakes Medical Center Project, Series 2012, 4.000%, 9/01/24 |
No Opt. Call | BBB+ | $ | 504,305 | ||||||||||||
1,900 | Medford Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Asante Health System, Refunding Series 2010, 5.500%, 8/15/28 – AGM Insured |
8/20 at 100.00 | AA– | 2,104,193 | ||||||||||||||
Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Adventist Health System/West, Series 2009A: |
||||||||||||||||||
1,925 | 5.000%, 9/01/21 |
9/19 at 100.00 | A | 2,157,174 | ||||||||||||||
845 | 4.500%, 9/01/21 |
9/19 at 100.00 | A | 925,376 | ||||||||||||||
Oregon Health and Science University, Revenue Bonds, Series 2012A: |
||||||||||||||||||
1,225 | 5.000%, 7/01/25 |
7/22 at 100.00 | A+ | 1,392,972 | ||||||||||||||
1,195 | 5.000%, 7/01/26 |
7/22 at 100.00 | A+ | 1,347,625 | ||||||||||||||
2,000 | Oregon Health and Science University, Revenue Bonds, Series 2012E, 4.000%, 7/01/29 |
No Opt. Call | A+ | 2,037,600 | ||||||||||||||
Oregon State Facilities Authority, Oregon, Revenue Bonds, Samaritan Health Services, Refunding Series 2010A: |
||||||||||||||||||
1,250 | 5.000%, 10/01/19 |
No Opt. Call | BBB+ | 1,439,925 | ||||||||||||||
500 | 5.000%, 10/01/24 |
10/20 at 100.00 | BBB+ | 545,175 | ||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, Legacy Health System, Refunding Series 2010A: |
||||||||||||||||||
2,000 | 4.250%, 3/15/17 |
No Opt. Call | A+ | 2,185,480 | ||||||||||||||
1,020 | 4.750%, 3/15/24 |
3/20 at 100.00 | A+ | 1,084,801 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Bonds, Peacehealth System, Refunding Series 2009A, 5.000%, 11/01/20 |
11/19 at 100.00 | A+ | 1,147,800 | ||||||||||||||
690 | Oregon State Facilities Authority, Revenue Bonds, Peacehealth System, Refunding Series 2014A, 5.000%, 11/15/25 (WI/DD, Settling 3/18/14) |
5/24 at 100.00 | A+ | 772,414 | ||||||||||||||
375 | Oregon State Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2011C, 5.000%, 10/01/20 |
No Opt. Call | AA | 440,599 | ||||||||||||||
1,815 | Oregon State Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2013A, 5.000%, 10/01/23 |
No Opt. Call | AA | 2,116,399 | ||||||||||||||
450 | Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Hospital Project, Series 2006A, 5.000%, 8/15/27 |
8/16 at 100.00 | A | 464,054 | ||||||||||||||
1,520 | Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Hospital Project, Series 2008A, 5.750%, 8/15/23 |
8/18 at 100.00 | A | 1,681,698 | ||||||||||||||
24,805 | Total Health Care |
27,457,263 | ||||||||||||||||
Housing/Multifamily – 6.1% |
||||||||||||||||||
Clackamas County Housing Authority, Oregon, Multifamily Housing Revenue Bonds, Easton Ridge Apartments Project, Series 2013A: |
||||||||||||||||||
265 | 4.000%, 9/01/20 |
No Opt. Call | Aa3 | 292,332 | ||||||||||||||
275 | 4.000%, 9/01/21 |
No Opt. Call | Aa3 | 297,041 | ||||||||||||||
285 | 4.000%, 9/01/22 |
No Opt. Call | Aa3 | 305,189 | ||||||||||||||
195 | 4.000%, 9/01/23 |
3/23 at 100.00 | Aa3 | 206,261 | ||||||||||||||
Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A: |
||||||||||||||||||
750 | 4.000%, 7/01/19 (Alternative Minimum Tax) |
No Opt. Call | Aaa | 803,025 | ||||||||||||||
500 | 4.250%, 7/01/21 (Alternative Minimum Tax) |
1/20 at 100.00 | Aaa | 526,545 |
28 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Housing/Multifamily (continued) |
||||||||||||||||||
Oregon State Facilities Authority, Revenue Bonds, CHF Ashland Southern Oregon University Project Series 2012: |
||||||||||||||||||
$ | 1,185 | 4.350%, 7/01/27 |
7/22 at 100.00 | AA– | $ | 1,227,660 | ||||||||||||
525 | 4.700%, 7/01/33 |
7/22 at 100.00 | AA– | 537,894 | ||||||||||||||
1,000 | Oregon State Facilities Authority, Revenue Refunding Bonds, College Housing Northwest Projects, Series 2013, 5.000%, 10/01/24 |
10/23 at 100.00 | BBB– | 1,037,080 | ||||||||||||||
705 | Portland Housing Authority, Oregon, Housing Revenue Refundign Bonds, Yards at Union Station Project, Series 2007, 4.750%, 5/01/22 (Alternative Minimum Tax) |
5/17 at 100.00 | Aa2 | 730,888 | ||||||||||||||
Portland, Oregon, Economic Development Revenue Refunding Bonds, Broadway Project, Series 2008A: |
||||||||||||||||||
880 | 5.125%, 4/01/16 |
No Opt. Call | A1 | 961,866 | ||||||||||||||
1,455 | 6.250%, 4/01/23 |
4/18 at 100.00 | A1 | 1,715,576 | ||||||||||||||
8,020 | Total Housing/Multifamily |
8,641,357 | ||||||||||||||||
Housing/Single Family – 0.2% |
||||||||||||||||||
285 | Oregon Housing and Community Services Department, Single Family Mortgage Revenue Bonds, Series 2008D, 4.750%, 7/01/22 |
1/18 at 100.00 | Aa2 | 301,690 | ||||||||||||||
Long-Term Care – 3.9% |
||||||||||||||||||
1,000 | Clackamas County Hospital Facility Authority, Oregon, Revenue Refunding Bonds, Robison Jewish Home, DBA Cedar Sinia Park, Series 2005, 5.125%, 10/01/24 |
10/15 at 100.00 | N/R | 976,800 | ||||||||||||||
Medford Hospital Facilities Authority, Oregon, Revenue Bonds, Rogue Valley Manor, Series 2013: |
||||||||||||||||||
250 | 5.000%, 10/01/19 |
No Opt. Call | A– | 282,768 | ||||||||||||||
450 | 5.000%, 10/01/24 |
10/23 at 100.00 | A– | 490,973 | ||||||||||||||
1,000 | Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Terwilliger Plaza Project, Series 2009, 5.250%, 12/01/26 |
12/16 at 100.00 | BBB | 1,026,810 | ||||||||||||||
1,660 | Multnomah County Hospital Facilities Authority, Oregon, Revenue Refunding Bond, Terwilliger Plaza, Inc., Series 2012, 5.000%, 12/01/29 |
12/22 at 100.00 | BBB | 1,710,929 | ||||||||||||||
Salem Hospital Facility Authority, Oregon, Revenue Bonds, Capital Manor, Inc., Refunding Series 2012: |
||||||||||||||||||
550 | 5.000%, 5/15/22 |
No Opt. Call | N/R | 560,346 | ||||||||||||||
550 | 5.750%, 5/15/27 |
5/22 at 100.00 | N/R | 570,895 | ||||||||||||||
5,460 | Total Long-Term Care |
5,619,521 | ||||||||||||||||
Tax Obligation/General – 26.5% |
||||||||||||||||||
Blue Mountain Hospital District, Grant County, Oregon, General Obligation Bonds, Refunding Series 2010: |
||||||||||||||||||
605 | 4.250%, 2/01/19 |
No Opt. Call | Baa1 | 670,872 | ||||||||||||||
655 | 4.500%, 2/01/20 |
No Opt. Call | Baa1 | 732,919 | ||||||||||||||
280 | 5.000%, 2/01/21 |
No Opt. Call | Baa1 | 318,629 | ||||||||||||||
Central Oregon Community College District, Crook, Jefferson, Deschutes, Klamath, Lake, and Wasco Counties, Oregon, General Obligation Bonds, Series 2010: |
||||||||||||||||||
1,000 | 4.000%, 6/15/19 |
No Opt. Call | AA+ | 1,147,420 | ||||||||||||||
810 | 4.500%, 6/15/20 |
No Opt. Call | AA+ | 951,872 | ||||||||||||||
1,000 | Chemeketa Community College District, Oregon, General Obligation Bonds, Series 2008, 5.500%, 6/15/24 |
6/18 at 100.00 | AA+ | 1,163,610 |
Nuveen Investments | 29 |
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
City of The Dalles, Wasco County, Oregon, General Obligation Bonds, Series 2008: |
||||||||||||||||||
$ | 130 | 4.000%, 6/01/17 |
No Opt. Call | A+ | $ | 142,646 | ||||||||||||
140 | 4.000%, 6/01/18 |
No Opt. Call | A+ | 155,935 | ||||||||||||||
75 | 4.000%, 6/01/19 |
6/18 at 100.00 | A+ | 82,580 | ||||||||||||||
1,145 | Clackamas Community College District, Oregon, General Obligation Bonds, Series 2006, 5.000%, 5/01/19 – NPFG Insured |
5/16 at 100.00 | AA | 1,253,500 | ||||||||||||||
Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2007B: |
||||||||||||||||||
685 | 5.000%, 6/15/19 – AGM Insured |
6/17 at 100.00 | AA+ | 769,741 | ||||||||||||||
3,665 | 5.000%, 6/15/21 – AGM Insured |
6/17 at 100.00 | AA+ | 4,113,995 | ||||||||||||||
3,135 | 5.000%, 6/15/22 – AGM Insured |
6/17 at 100.00 | AA+ | 3,506,592 | ||||||||||||||
1,000 | Clackamas County School District 46 Oregon Trail, Oregon, General Obligation Bonds, Series 2009A, 5.000%, 6/15/24 |
6/19 at 100.00 | AA+ | 1,134,410 | ||||||||||||||
525 | Clackamas County School District 86, Oregon, General Obligation Bonds, Refunding Series 2012A, 5.000%, 6/15/25 |
6/22 at 100.00 | AA+ | 609,110 | ||||||||||||||
1,000 | David Douglas School District 40, Multnomah County, Oregon, General Obligation Bonds, Series 2012B, 0.000%, 6/15/25 |
No Opt. Call | AA+ | 674,230 | ||||||||||||||
3,055 | Deshutes and Jefferson Counties School District 2J Redmond, Oregon, General Obligation Bonds, Deffered Imterest Series 2008, 0.000%, 6/15/22 |
No Opt. Call | Aa1 | 2,447,727 | ||||||||||||||
965 | Forest Grove School District 15, Washington County, Oregon, General Obligation Bonds, Series 2012, 0.000%, 6/15/25 |
No Opt. Call | AA+ | 653,932 | ||||||||||||||
1,000 | Josephine County Unit School District Three Rivers, Oregon, General Obligation Bonds, Refunding Series 2005, 5.000%, 12/15/19 – FGIC Insured |
No Opt. Call | Aa1 | 1,199,030 | ||||||||||||||
810 | Keizer, Oregon, General Obligation Assessment Bonds, Keizer Station Area A Local Improvement District, Series 2008, 5.200%, 6/01/31 |
6/18 at 100.00 | A1 | 829,958 | ||||||||||||||
200 | Lake Oswego School District 7J, Clackamas County, Oregon, General Obligation Bonds, Refunding Series 2005, 5.250%, 6/01/25 – AGM Insured |
No Opt. Call | Aa1 | 248,508 | ||||||||||||||
100 | Marion and Linn Counties School District 29J, Salem-Kreizer, Oregon, General Obligation Bonds, Series 2013, 4.000%, 6/15/21 |
No Opt. Call | Aa1 | 113,157 | ||||||||||||||
300 | Marion-Clackamas Counties School District 4J Silver Falls, Oregon, General Obligation Bonds, Refunding Series 2013, 5.000%, 6/15/24 |
6/23 at 100.00 | Aa1 | 353,817 | ||||||||||||||
1,635 | Metro, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/01/20 |
6/17 at 100.00 | AAA | 1,848,204 | ||||||||||||||
1,015 | Multnomah-Clackamas Counties, Oregon, School District 10JT, General Obligation Bonds, Series 2005, 5.250%, 6/15/17 – AGM Insured |
No Opt. Call | AA+ | 1,171,188 | ||||||||||||||
125 | North Lincoln Fire and Rescue District 1, Oregon, General Obligation Bonds, Series 2007, 4.250%, 2/01/18 – AGM Insured |
2/17 at 100.00 | AA– | 136,401 | ||||||||||||||
1,500 | Oregon Department of Administrative Services, General Obligation Bonds, Oregon Opportunity, Refunding Series 2010F, 5.000%, 12/01/20 |
6/20 at 100.00 | AA+ | 1,788,450 | ||||||||||||||
Oregon State, General Obligation Bonds, Alterrnative Energy Series 2011B: |
||||||||||||||||||
540 | 5.000%, 1/01/20 (Alternative Minimum Tax) |
No Opt. Call | AA+ | 624,532 | ||||||||||||||
560 | 5.000%, 1/01/21 (Alternative Minimum Tax) |
No Opt. Call | AA+ | 648,474 | ||||||||||||||
100 | 5.000%, 1/01/23 (Alternative Minimum Tax) |
1/21 at 100.00 | AA+ | 112,185 | ||||||||||||||
455 | Pacific City Joint Water-Sanitary Authority, Tilamook County, Oregon, General Obligation Bonds, Series 2007, 4.650%, 7/01/22 |
7/17 at 100.00 | N/R | 473,792 | ||||||||||||||
340 | Redmond, Oregon, Full Faith and Credit Obligations, Refunding Series 2012A, 4.000%, 6/01/25 |
6/22 at 100.00 | A1 | 359,023 |
30 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Tax Obligation/General (continued) |
||||||||||||||||||
Redmond, Oregon, Full Faith and Credit Obligations, Terminal Expansion Project, Series 2009: |
||||||||||||||||||
$ | 240 | 4.000%, 6/01/21 |
6/19 at 100.00 | A1 | $ | 258,737 | ||||||||||||
200 | 4.250%, 6/01/23 |
6/19 at 100.00 | A1 | 212,022 | ||||||||||||||
500 | 4.625%, 6/01/29 |
6/19 at 100.00 | A1 | 519,225 | ||||||||||||||
655 | Salem-Keizer School District 24J, Marion and Polk Counties, Oregon, General Obligation Bonds, Series 2009B, 0.000%, 6/15/22 |
No Opt. Call | AA+ | 526,954 | ||||||||||||||
1,525 | Washington County, Oregon, General Obligation Bonds, Series 2006, 5.000%, 6/01/22 |
6/16 at 102.00 | Aa1 | 1,704,416 | ||||||||||||||
1,200 | Washington Multnomah & Yamhill Counties School District 1J Hillsboro, Oregon, General Obligation Bonds, Series 2012, 4.000%, 6/15/23 |
No Opt. Call | Aa1 | 1,319,976 | ||||||||||||||
Yamhill County School District 29J Newberg, Oregon, General Obligation Bonds, Refunding Series 2005: |
||||||||||||||||||
1,260 | 5.250%, 6/15/15 – FGIC Insured |
No Opt. Call | Aa1 | 1,341,812 | ||||||||||||||
1,300 | 5.250%, 6/15/16 – FGIC Insured |
No Opt. Call | Aa1 | 1,445,535 | ||||||||||||||
35,430 | Total Tax Obligation/General |
37,765,116 | ||||||||||||||||
Tax Obligation/Limited – 16.0% |
||||||||||||||||||
Local Oregon Capital Assets Program, Certificates of Participation, City of Cottage Grove, Oregon, Series 2013A: |
||||||||||||||||||
975 | 4.000%, 9/15/19 |
No Opt. Call | Baa2 | 1,049,617 | ||||||||||||||
1,105 | 4.250%, 9/15/23 |
9/21 at 100.00 | Baa2 | 1,130,802 | ||||||||||||||
1,500 | Oregon Department of Administrative Services, Certificates of Participation, Series 2009A, 4.700%, 5/01/25 |
5/19 at 100.00 | AA | 1,622,730 | ||||||||||||||
1,055 | Oregon Department of Administrative Services, Certificates of Participation, Series 2009C, 5.000%, 11/01/25 |
11/19 at 100.00 | AA | 1,166,229 | ||||||||||||||
1,055 | Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Series 2009A, 5.000%, 11/15/21 |
5/19 at 100.00 | AAA | 1,221,289 | ||||||||||||||
1,000 | Portland, Oregon, River District Urban Renewal and Redevelopment Bonds, Series 2012B, 5.000%, 6/15/23 |
6/22 at 100.00 | A1 | 1,134,940 | ||||||||||||||
2,030 | Portland, Oregon, South Park Blocks Urban Renewal and Redevelopment Bonds, Series 2008B, 5.000%, 6/15/21 |
6/18 at 101.00 | Aa3 | 2,316,656 | ||||||||||||||
2,655 | Portland, Oregon, Urban Renewal and Redevelopment Revenue Bonds, North Macadam Series 2010B, 5.000%, 6/15/24 |
6/20 at 100.00 | A1 | 2,916,730 | ||||||||||||||
Tri-County Metropolitan Transportation District, Oregon, Capital Grant Receipt Revenue Bonds, Series 2011A: |
||||||||||||||||||
1,000 | 5.000%, 10/01/25 |
10/21 at 100.00 | A | 1,126,000 | ||||||||||||||
1,715 | 5.000%, 10/01/26 |
10/21 at 100.00 | A | 1,918,176 | ||||||||||||||
2,305 | Tri-County Metropolitan Transportation District, Oregon, Revenue Bonds, Senior Lien Payroll Tax Series 2012A, 5.000%, 9/01/24 |
9/22 at 100.00 | AAA | 2,711,625 | ||||||||||||||
3,085 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 4.000%, 10/01/22 |
No Opt. Call | BBB+ | 3,246,747 | ||||||||||||||
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A: |
||||||||||||||||||
1,015 | 5.000%, 10/01/20 |
No Opt. Call | BBB | 1,149,995 | ||||||||||||||
30 | 5.000%, 10/01/29 |
10/20 at 100.00 | BBB | 30,786 | ||||||||||||||
20,525 | Total Tax Obligation/Limited |
22,742,322 |
Nuveen Investments | 31 |
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Transportation – 3.1% |
||||||||||||||||||
$ | 1,005 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2010-20C, 5.000%, 7/01/17 (Alternative Minimum Tax) |
No Opt. Call | AA– | $ | 1,143,720 | ||||||||||||
350 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2011-21, 5.000%, 7/01/17 (Alternative Minimum Tax) |
No Opt. Call | AA– | 407,145 | ||||||||||||||
1,030 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2011, 5.000%, 7/01/23 (Alternative Minimum Tax) |
7/21 at 100.00 | AA– | 1,163,014 | ||||||||||||||
1,500 | Port of Portland, Oregon, Portland International Airport Passenger Facility Charge Revenue Bonds, Series 2011A, 5.000%, 7/01/26 |
7/21 at 100.00 | A | 1,641,465 | ||||||||||||||
3,885 | Total Transportation |
4,355,344 | ||||||||||||||||
U.S. Guaranteed – 7.7% (4) |
||||||||||||||||||
1,975 | Clackamas County School District 115, Oregon, General Obligation Bond, Series 2006B, 4.500%, 6/15/21 (Pre-refunded 6/15/16) – NPFG Insured |
6/16 at 100.00 | AA+ (4) | 2,161,894 | ||||||||||||||
1,305 | Clackamas County School District 86, Oregon, General Obligation Bonds, Series 2005, 5.000%, 6/15/21 (Pre-refunded 6/15/15) – AGM Insured |
6/15 at 100.00 | AA+ (4) | 1,386,615 | ||||||||||||||
250 | Forest Grove, Oregon, Campus Improvement Revenue Bonds, Pacific University Project, Series 2009, 5.750%, 5/01/24 (Pre-refunded 5/01/14) |
5/14 at 100.00 | BBB (4) | 252,450 | ||||||||||||||
1,305 | Marion-Clackamas Counties School District 4J, Oregon, General Obligation Bonds, Series 2007, 4.500%, 6/15/22 (Pre-refunded 6/15/16) – NPFG Insured |
6/16 at 100.00 | Aa1 (4) | 1,430,071 | ||||||||||||||
1,060 | Oregon Department of Administrative Services, Certificates of Participation, Series 2006A, 5.000%, 11/01/18 (Pre-refunded 11/01/16) – NPFG Insured |
11/16 at 100.00 | AA (4) | 1,190,550 | ||||||||||||||
500 | Portland, Oregon, Water System Revenue Bonds, Second Lien Series 2006A, 4.375%, 10/01/24 (Pre-refunded 10/01/16) – NPFG Insured |
10/16 at 100.00 | Aa1 (4) | 551,460 | ||||||||||||||
2,490 | Washington Multnomah & Yamhill Counties School District 1J Hillsboro, Oregon, General Obligation Bonds, Series 2006, 5.000%, 6/15/19 (Pre-refunded 6/15/17) – NPFG Insured |
6/17 at 100.00 | Aa2 (4) | 2,858,869 | ||||||||||||||
1,040 | Yamhill County School District 40, McMinnville, Oregon, General Obligation Bonds, Series 2007, 5.000%, 6/15/23 (Pre-refunded 6/15/17) – AGM Insured |
6/17 at 100.00 | Aa1 (4) | 1,193,327 | ||||||||||||||
9,925 | Total U.S. Guaranteed |
11,025,236 | ||||||||||||||||
Utilities – 0.6% |
||||||||||||||||||
500 | Emerald Peoples Utility District, Oregon, Electric System Revenue Bonds, Refunding Series 2013, 5.000%, 11/01/22 – AGM Insured |
No Opt. Call | A1 | 588,380 | ||||||||||||||
175 | Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/21 – AGM Insured |
No Opt. Call | AA– | 201,355 | ||||||||||||||
675 | Total Utilities |
789,735 | ||||||||||||||||
Water and Sewer – 7.1% |
||||||||||||||||||
1,295 | Albany, in the Counties of Linn and Benton, Oregon, General Obligation and Water Revenue Bonds, Series 2013, 5.000%, 8/01/25 |
8/23 at 100.00 | A1 | 1,496,657 | ||||||||||||||
820 | Lane County Metropolitan Wastewater Management Commission, Oregon, Wastewater Revenue Bonds, Series 2006, 5.000%, 11/01/21 – FGIC Insured |
11/16 at 100.00 | AA | 914,038 | ||||||||||||||
1,500 | Lane County Metropolitan Wastewater Management Commission, Oregon, Wastewater Revenue Bonds, Series 2008, 5.000%, 11/01/22 |
11/18 at 100.00 | AA | 1,732,230 | ||||||||||||||
1,000 | Portland, Oregon, Sewer System Revenue Bonds, Refunding First Lien Series 2008A, 4.750%, 6/15/24 |
6/18 at 100.00 | AA | 1,122,810 | ||||||||||||||
1,175 | Portland, Oregon, Sewer System Revenue Bonds, Series 2006B, 5.000%, 6/15/23 – NPFG Insured |
6/16 at 100.00 | AA– | 1,291,924 |
32 | Nuveen Investments |
Principal Amount (000) |
Description (1) | Optional Call Provisions (2) |
Ratings (3) | Value | ||||||||||||||
Water and Sewer (continued) |
||||||||||||||||||
Redmond, Oregon, Water Revenue Bonds, Series 2010: |
||||||||||||||||||
$ | 450 | 4.500%, 6/01/25 |
6/20 at 100.00 | A1 | $ | 488,061 | ||||||||||||
5 | 4.500%, 6/01/30 |
6/20 at 100.00 | A1 | 5,312 | ||||||||||||||
325 | The Dalles, Oregon, Water Revenue Bonds, Series 200, 4.250%, 6/01/20 – AMBAC Insured |
6/17 at 100.00 | N/R | 341,458 | ||||||||||||||
1,435 | Tigard, Washington County, Oregon, Water System Revenue Bonds, Series 2012, 5.000%, 8/01/26 |
8/22 at 100.00 | AA– | 1,642,932 | ||||||||||||||
900 | Woodburn, Marion County, Oregon, Wastewater Revenue Bonds, Refunding Series 2011A, 5.000%, 3/01/20 |
No Opt. Call | A2 | 1,045,899 | ||||||||||||||
8,905 | Total Water and Sewer |
10,081,321 | ||||||||||||||||
$ | 129,915 | Total Long-Term Investments (cost $133,532,628) |
141,284,070 | |||||||||||||||
Shares | Description (1) | Value | ||||||||||||||||
SHORT-TERM INVESTMENTS – 0.7% |
||||||||||||||||||
Money Market Funds – 0.7% |
||||||||||||||||||
761,506 | First American Tax Free Obligations Fund, Class Z, 0.000% (5) |
|
$ | 964,602 | ||||||||||||||
Total Short-Term Investments (cost $964,602) |
964,602 | |||||||||||||||||
Total Investments (cost $134,497,230) – 100.0% |
142,248,672 | |||||||||||||||||
Other Assets Less Liabilities – 0.0% |
53,792 | |||||||||||||||||
Net Assets – 100% |
$ | 142,302,464 |
Fair Value Measurements
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1 – | Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. | |
Level 2 – | Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). | |
Level 3 – | Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Long-Term Investments: | ||||||||||||||||
Municipal Bonds |
$ | — | $ | 141,284,070 | $ | — | $ | 141,284,070 | ||||||||
Short-Term Investments: | ||||||||||||||||
Money Market Funds |
964,602 | — | — | 964,602 | ||||||||||||
Total | $ | 964,602 | $ | 141,284,070 | $ | — | $ | 142,248,672 |
Nuveen Investments | 33 |
Nuveen Oregon Intermediate Municipal Bond Fund (continued)
Portfolio of Investments February 28, 2014 (Unaudited)
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing certain gains and losses on investment transactions. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
As of February 28, 2014, the cost of investments was $134,370,611.
Gross unrealized appreciation and gross unrealized depreciation of investments as of February 28, 2014, were as follows:
Gross unrealized: | ||||
Appreciation |
$ | 8,469,920 | ||
Depreciation |
(591,859 | ) | ||
Net unrealized appreciation (depreciation) of investments | $ | 7,878,061 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets. |
(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) | Ratings: Using the highest 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) | 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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
(5) | The rate shown is the annualized seven-day effective yield as of the end of the reporting period. |
WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
34 | Nuveen Investments |
Item 2. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See Ex-99. CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Investment Funds, Inc.
By (Signature and Title) |
/s/ Kevin J. McCarthy | |
Kevin J. McCarthy | ||
Vice President and Secretary |
Date: April 29, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) |
/s/ Gifford R. Zimmerman | |
Gifford R. Zimmerman | ||
Chief Administrative Officer (principal executive officer) |
Date: April 29, 2014
By (Signature and Title) |
/s/ Stephen D. Foy | |
Stephen D. Foy | ||
Vice President and Controller (principal financial officer) |
Date: April 29, 2014
This ‘N-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on / Effective on: | 4/29/14 | |||
For Period End: | 2/28/14 | 485BPOS, 497J, 497K | ||
List all Filings |