Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)

1

Nuveen

Arizona

Quality

Municipal

Income

Fund

Portfolio

of

Investments

May

31,

2024

(Unaudited)

NAZ

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

LONG-TERM

INVESTMENTS

-

160.3% (100.0%

of

Total

Investments)  

X

228,981,124

MUNICIPAL

BONDS

-

160.3%  (100.0%

of

Total

Investments)

X

228,981,124

Education

and

Civic

Organizations

-

35.0%

(21.9%

of

Total

Investments)

$

2,175

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Green

Series

2016B,

5.000%,

7/01/47

7/26

at

100.00

$

2,201,884

2,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Green

Series

2024A,

5.000%,

7/01/54

7/34

at

100.00

2,150,622

1,500

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Refunding

Green

Series

2015A,

5.000%,

7/01/41

7/25

at

100.00

1,516,168

1,500

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2015D,

5.000%,

7/01/41

7/25

at

100.00

1,516,168

2,030

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2020B,

4.000%,

7/01/47

7/30

at

100.00

1,977,011

2,515

Arizona

Board

of

Regents,

Univeristy

of

Arizona,

SPEED

Revenue

Bonds,

Stimulus

Plan

for

Economic

and

Educational

Development,

Series

2014,

5.000%,

8/01/44

8/24

at

100.00

2,516,634

1,000

Arizona

Board

of

Regents,

University

of

Arizona,

System

Revenue

Bonds,

Refunding

Series

2021A,

5.000%,

6/01/42

6/31

at

100.00

1,066,387

515

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017A,

5.125%,

7/01/37

7/26

at

100.00

518,454

525

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017C,

5.000%,

7/01/47

7/27

at

100.00

529,665

250

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017D,

5.000%,

7/01/47

7/27

at

100.00

240,068

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017F:

1,700

5.000%,

7/01/37

7/27

at

100.00

1,738,856

1,000

5.000%,

7/01/52

7/27

at

100.00

1,005,453

380

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017G,

5.000%,

7/01/47

7/27

at

100.00

364,903

240

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Montessori

Academy

Projects,

Refunding

Series

2017A,

6.250%,

11/01/50

11/27

at

100.00

216,325

420

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Somerset

Academy

of

Las

Vegas

Aliante

and

Skye

Canyon

Campus

Projects,

Series

2021A,

4.000%,

12/15/41

12/29

at

100.00

362,909

375

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,  Arizona

Agribusiness

and

Equine

Center,

Inc.

Project,

Series

2017B,

5.000%,

3/01/48

9/27

at

100.00

349,338

190

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Academies

of

Math

&

Science

Projects,

Series

2017B,

4.250%,

7/01/27

No

Opt.

Call

189,074

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Academies

of

Math

&

Science

Projects,

Series

2018A:

615

5.000%,

7/01/38

1/28

at

100.00

623,957

1,000

5.000%,

7/01/48

1/28

at

100.00

1,000,649

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

GreatHearts

Arizona

Projects,

Series

2021A:

125

5.000%,

7/01/28

No

Opt.

Call

129,099

125

5.000%,

7/01/29

No

Opt.

Call

130,167

130

5.000%,

7/01/30

No

Opt.

Call

136,286

125

5.000%,

7/01/31

No

Opt.

Call

131,750

455

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Pinecrest

Academy

of

Nevada

Horizon,

Inspirada

and

St.

Rose

Campus

Projects,

Series

2018A,

5.750%,

7/15/38

7/26

at

100.00

464,309

Nuveen

Arizona

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

2

NAZ

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Education

and

Civic

Organizations

(continued)

$

1,000

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Pinecrest

Academy

of

Nevada

Sloan

Canyon

Campus

Project,

Series

2020A-2,

6.000%,

9/15/38

6/24

at

105.00

$

1,048,243

120

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Social

Bonds

Pensar

Academy

Project,

Series

2020,

4.000%,

7/01/30

7/28

at

100.00

112,514

Arizona

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

University

of

Indianapolis

-

Health

Pavilion

Project,

Series

2019A:

1,645

4.000%,

10/01/39

10/29

at

100.00

1,453,442

1,080

4.000%,

10/01/49

10/29

at

100.00

871,834

1,500

(c)

Arizona

Industrial

Development

Authority,

Education

Facility

Revenue

Bonds,

Caurus

Academy

Project,

Series

2018A,

6.375%,

6/01/39

6/28

at

100.00

1,563,381

Industrial

Development

Authority,

Pima

County,

Arizona,

Education

Revenue

Bonds,

Center

for

Academic

Success

Project,

Refunding

Series

2019:

360

4.000%,

7/01/31

7/29

at

100.00

347,851

340

4.000%,

7/01/33

7/29

at

100.00

325,553

780

(c)

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Arizona

Autism

Charter

Schools

Project,

Series

2020A,

5.000%,

7/01/50

7/29

at

100.00

738,672

195

(c)

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Arizona

Autism

Charter

Schools

Project,

Social

Series

2021A,

4.000%,

7/01/51

7/29

at

100.00

153,819

355

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Great

Hearts

Academies

Projects,

Series

2017A,

5.000%,

7/01/37

7/27

at

100.00

361,779

490

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Great

Hearts

Academies

Projects,

Series

2017C,

5.000%,

7/01/48

7/27

at

100.00

492,494

1,715

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Highland

Prep

Project,

Series

2019,

5.000%,

1/01/50

1/30

at

100.00

1,725,706

700

(c)

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2021A,

4.000%,

7/01/41

7/31

at

100.00

612,156

870

(c)

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Paradise

Schools

Projects,

Series

2016,

5.000%,

7/01/47

7/26

at

100.00

842,193

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Reid

Traditional

School

Projects,

Series

2016:

520

5.000%,

7/01/36

7/26

at

100.00

524,112

300

5.000%,

7/01/47

7/26

at

100.00

295,341

2,500

Maricopa

County

Industrial

Development

Authority,

Arizona,

Educational

Facilities

Revenue

Bonds,

Creighton

University

Projects,

Series

2020,

5.000%,

7/01/47

1/30

at

100.00

2,567,416

McAllister

Academic

Village

LLC,

Arizona,

Revenue

Bonds,

Arizona

State

University

Hassayampa

Academic

Village

Project,

Refunding

Series

2016:

775

5.000%,

7/01/37

7/26

at

100.00

791,376

1,000

5.000%,

7/01/38

7/26

at

100.00

1,018,454

1,155

Northern

Arizona

University,

System

Revenue

Bonds,

Refunding

Series

2014,

5.000%,

6/01/40

7/24

at

100.00

1,156,595

1,000

Northern

Arizona

University,

System

Revenue

Bonds,

Refunding

Series

2020B,

5.000%,

6/01/39

-

BAM

Insured

6/30

at

100.00

1,061,903

70

(c)

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2016A,

5.000%,

7/01/46

7/25

at

100.00

67,717

800

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Great

Hearts

Academies

Project,

Series

2016A,

5.000%,

7/01/41

7/25

at

100.00

801,639

500

(c)

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Project,

Series

2014A,

6.750%,

7/01/44

7/24

at

100.00

500,643

3

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Education

and

Civic

Organizations

(continued)

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2015:

$

315

(c)

5.000%,

7/01/35

7/25

at

100.00

$

316,625

300

(c)

5.000%,

7/01/45

7/25

at

100.00

293,106

650

(c)

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2016A,

5.000%,

7/01/41

7/26

at

100.00

649,233

1,110

(c)

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Northwest

Christian

School

Project,

Series

2020A,

5.000%,

9/01/45

9/30

at

100.00

994,755

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Villa

Montessori,

Inc.

Projects,

Series

2015:

110

3.250%,

7/01/25

No

Opt.

Call

107,776

400

5.000%,

7/01/35

7/25

at

100.00

401,799

900

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Vista

College

Preparatory

Project,

Series

2018A,

4.125%,

7/01/38

7/28

at

100.00

852,171

1,995

Phoenix

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

Eastern

Kentucky

University

Project,

Series

2016,

5.000%,

10/01/36

10/26

at

100.00

2,040,456

500

Pima

County

Community

College

District,

Arizona,

Revenue

Bonds,

Series

2019,

5.000%,

7/01/36

7/28

at

100.00

528,768

200

Pima

County

Industrial

Development

Authority,

Arizona,

Charter

School

Revenue

Bonds,

Desert

Heights

Charter

School,

Series

2014,

7.250%,

5/01/44

7/24

at

100.00

200,280

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Champion

Schools

Project,

Series

2017:

120

(c)

6.000%,

6/15/37

6/26

at

100.00

121,481

680

(c)

6.125%,

6/15/47

6/26

at

100.00

684,163

200

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Edkey

Charter

Schools

Project,

Series

2016,

5.250%,

7/01/36

7/26

at

100.00

200,472

115

(c)

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

San

Tan

Montessori

School

Project,

Series

2017,

6.750%,

2/01/50

2/28

at

100.00

117,975

500

(c)

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Noah

Webster

Schools

Mesa

Project,

Series

2015A,

5.000%,

12/15/34

6/25

at

100.00

500,887

730

Pinal

County

Community

College

District,

Arizona,

Revenue

Bonds,

Central

Arizona

College,

Series

2017,

5.000%,

7/01/35

-

BAM

Insured

7/26

at

100.00

745,571

780

Student

and

Academic

Services

LLC,

Arizona,

Lease

Revenue

Bonds,

Northern

Arizona

University

Project,

Series

2014,

5.000%,

6/01/39

-

BAM

Insured

7/24

at

100.00

780,054

Total

Education

and

Civic

Organizations

50,046,541

Health

Care

-

19.1%

(11.9%

of

Total

Investments)

Arizona

Health

Facilities

Authority,

Revenue

Bonds,

Scottsdale

Lincoln

Hospitals

Project,

Refunding

Series

2014A:

3,005

5.000%,

12/01/39

12/24

at

100.00

3,021,943

Arizona

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

Children's

National

Prince

County

Regional

Medical

Center,

Series

2020A:

890

4.000%,

9/01/38

9/30

at

100.00

853,081

110

4.000%,

9/01/40

9/30

at

100.00

104,024

4,975

Arizona

Industrial

Development

Authority,

Hospital

Revenue

Bonds,

Phoenix

Children's

Hospital,

Series

2020A,

4.000%,

2/01/50

2/30

at

100.00

4,637,769

500

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Honor

Health,

Series

2024D,

5.000%,

12/01/44

,

(WI/DD)

6/34

at

100.00

520,459

1,250

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

HonorHealth,

Series

2019A,

5.000%,

9/01/42

9/28

at

100.00

1,280,623

3,275

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

HonorHealth,

Series

2021A,

4.000%,

9/01/51

3/31

at

100.00

2,952,645

Nuveen

Arizona

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

4

NAZ

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Health

Care

(continued)

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Refunding

Series

2016A:

$

1,250

5.000%,

1/01/32

1/27

at

100.00

$

1,280,922

1,000

5.000%,

1/01/35

1/27

at

100.00

1,023,732

2,000

5.000%,

1/01/38

1/27

at

100.00

2,040,284

2,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Series

2017A,

5.000%,

1/01/41

1/28

at

100.00

2,045,848

2,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Series

2019A,

4.000%,

1/01/44

7/29

at

100.00

1,918,773

2,250

Pima

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Tucson

Medical

Center,

Series

2021A,

3.000%,

4/01/51

4/31

at

100.00

1,634,868

1,025

Yavapai

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yavapai

Regional

Medical

Center,

Refunding

Series

2016,

5.000%,

8/01/36

8/26

at

100.00

1,044,457

2,100

Yavapai

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yavapai

Regional

Medical

Center,

Series

2019,

4.000%,

8/01/43

8/29

at

100.00

1,959,773

1,000

Yuma

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yuma

Regional

Medical

Center,

Series

2014A,

5.250%,

8/01/32

8/24

at

100.00

1,001,724

Total

Health

Care

27,320,925

Housing/Multifamily

-

1.8%

(1.1%

of

Total

Investments)

1,830

Arizona

Industrial

Development

Authority,

Student

Housing

Revenue

Bonds,

Provident

Group

-

NCCU

Properties

LLC-

North

Carolina

Central

University,

Series

2019A,

5.000%,

6/01/49

-

BAM

Insured

6/29

at

100.00

1,870,880

250

(d)

Sierra

Vista

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Convertible

Capital

Appreciation

Revenue

Bonds,

Series

2021A,

0.000%,

10/01/56

10/29

at

103.00

189,910

500

(d)

Sierra

Vista

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Convertible

Capital

Appreciation

Revenue

Bonds,

Series

2022A,

0.000%,

10/01/56

10/29

at

103.00

466,003

Total

Housing/Multifamily

2,526,793

Housing/Single

Family

-

2.6%

(1.6%

of

Total

Investments)

1,000

Phoenix

and

Maricopa

County

Industrial

Development

Authority,

Arizona,

Single

Family

Mortgage

Revenue

Bonds,

Series

2023A,

5.450%,

9/01/48

9/32

at

100.00

1,036,258

825

Phoenix

and

Maricopa

County

Industrial

Development

Authority,

Arizona,

Single

Family

Mortgage

Revenue

Bonds,

Series

2024A,

4.650%,

9/01/54

3/33

at

100.00

822,208

750

Tucson

and

Pima

County

Industrial

Development

Authority,

Arizona,

Joint

Single

Family

Mortgage

Revenue

Bonds,

Series

2023A,

4.850%,

7/01/48

7/32

at

103.31

752,953

1,130

Tucson

and

Pima

County

Industrial

Development

Authority,

Arizona,

Joint

Single

Family

Mortgage

Revenue

Bonds,

Series

2024A,

4.800%,

7/01/54

7/33

at

100.00

1,130,729

Total

Housing/Single

Family

3,742,148

Information

Technology

-

0.3%

(0.2%

of

Total

Investments)

410

Chandler

Industrial

Development

Authority,

Arizona,

Industrial

Development

Revenue

Bonds,

Intel

Corporation

Project,

Series

2007,

4.100%,

12/01/37,

(AMT),

(Mandatory

Put

6/15/28)

2/28

at

100.00

406,888

Total

Information

Technology

406,888

Long-Term

Care

-

3.3%

(2.1%

of

Total

Investments)

585

Arizona

Industrial

Development

Authority,

Multifamily

Housing

Revenue

Bonds,

Bridgewater

Avondale

Project,

Series

2017,

5.375%,

1/01/38

7/25

at

101.00

451,900

1,000

Glendale

Industrial

Development

Authority,

Arizona,

Senior

Living

Revenue

Bonds,

Royal

Oaks

Royal

Oaks

-

Inspirata

Pointe

Project,

Series

2020A,

5.000%,

5/15/41

5/26

at

103.00

950,590

1,795

Phoenix

Industrial

Development

Authority,

Arizona,

Multi-Family

Housing

Revenue

Bonds,

3rd

and

Indian

Road

Assisted

Living

Project,

Series

2016,

5.400%,

10/01/36

10/25

at

101.00

1,428,424

1,435

Tempe

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Friendship

Village

of

Tempe

Project,

Refunding

Series

2021A,

4.000%,

12/01/38

12/29

at

102.00

1,281,442

5

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Long-Term

Care

(continued)

$

1,080

(c)

Tempe

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Mirabella

at

ASU

Project,

Series

2017A,

6.125%,

10/01/47

10/27

at

100.00

$

664,731

Total

Long-Term

Care

4,777,087

Tax

Obligation/General

-

20.1%

(12.5%

of

Total

Investments)

575

Buckeye

Union

High

School

District

201,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project,

Refunding

Series

2017,

5.000%,

7/01/35

-

BAM

Insured

7/27

at

100.00

593,908

2,105

Golder

Ranch

Fire

District,

Pima

and

Pinal

Counties,

Arizona,

General

Obligation

Bonds,

Series

2021,

4.000%,

7/01/45

7/30

at

100.00

2,048,510

1,045

Maricopa

County

School

District

14

Creighton

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2021C,

4.000%,

7/01/34

7/31

at

100.00

1,080,009

2,315

Maricopa

County

School

District

214

Tolleson

Union

High,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

1990,

Series

1990A,

5.000%,

7/01/38

7/28

at

100.00

2,440,209

630

Maricopa

County

School

District

214

Tolleson

Union

High,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2017,

Series

2018A,

5.000%,

7/01/37

7/27

at

100.00

649,271

1,250

Maricopa

County

School

District

66

Roosevelt

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2020,

Series

2024C,

5.000%,

7/01/43

-

AGM

Insured

7/33

at

100.00

1,338,347

1,500

Maricopa

County

Special

Health

Care

District,

Arizona,

General

Obligation

Bonds,

Series

2018C,

5.000%,

7/01/36

7/28

at

100.00

1,569,449

1,350

Maricopa

County

Unified

School

District

95

Queen

Creek,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2018,

5.000%,

7/01/36

7/25

at

102.00

1,392,320

1,275

Maricopa

County

Union

High

School

District

210

Phoenix,

Arizona,

General

Obligation

Bonds,

School

Improvement

&

Project

of

2011

Series

2017E,

5.000%,

7/01/33

7/27

at

100.00

1,327,072

1,295

Maricopa

County

Union

High

School

District

216

Agua

Fria,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Project

of

2023,

Series

2024A,

5.000%,

7/01/43

7/33

at

100.00

1,412,199

Mohave

County

Union

High

School

District

2

Colorado

River,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2017:

1,000

5.000%,

7/01/34

7/27

at

100.00

1,034,888

1,000

5.000%,

7/01/36

7/27

at

100.00

1,033,125

690

Northwest

Fire

District

of

Pima

County,

Arizona,

General

Obligation

Bonds,

Series

2017,

5.000%,

7/01/36

7/27

at

100.00

712,082

2,000

Paradise

Valley

Unified

School

District

No.

69,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2019,

Series

2022D,

4.000%,

7/01/41

7/32

at

100.00

1,977,467

200

Pima

County

Unified

School

District

1,

Tucson,

Arizona,

General

Obligation

Bonds,

Project

of

2023

School

Improvement

Series

2024A,

5.000%,

7/01/43

-

AGM

Insured

7/33

at

100.00

216,504

2,895

Pima

County

Unified

School

District

12

Sunnyside,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2011,

Series

2014D,

5.000%,

7/01/34

-

AGM

Insured

7/24

at

100.00

2,896,391

Pinal

County

School

District

4

Casa

Grande

Elementary,

Arizona,

General

Obligation

Bonds,

School

improvement

Project

2016,

Series

2017A:

620

5.000%,

7/01/34

-

BAM

Insured

7/27

at

100.00

639,479

1,000

5.000%,

7/01/35

-

BAM

Insured

7/27

at

100.00

1,030,246

2,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1,

4.000%,

7/01/46

7/31

at

103.00

1,808,872

1,025

Tempe,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2024,

5.000%,

7/01/44

,

(WI/DD)

7/34

at

100.00

1,115,172

950

Tempe,

Arizona,

General

Obligation

Bonds,

Series

2021,

5.000%,

7/01/39

7/31

at

100.00

1,034,270

Western

Maricopa

Education

Center

District

402,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2012,

Series2014B:

715

4.500%,

7/01/33

7/24

at

100.00

671,749

665

4.500%,

7/01/34

7/24

at

100.00

624,306

Total

Tax

Obligation/General

28,645,845

Nuveen

Arizona

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

6

NAZ

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Tax

Obligation/Limited

-

42.3%

(26.4%

of

Total

Investments)

$

100

(c)

Arizona

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Linder

Village

Project

in

Meridian,

Ada

County,

Idaho,

Series

2020,

5.000%,

6/01/31

No

Opt.

Call

$

98,368

1,250

Arizona

State

Transportation

Board,

Highway

Revenue

Bonds,

Refunding

Series

2016,

5.000%,

7/01/35

7/26

at

100.00

1,283,955

275

Buckeye,

Arizona,

Excise

Tax

Revenue

Obligations,

Refunding

Series

2016,

4.000%,

7/01/36

7/26

at

100.00

276,613

1,000

Buckeye,

Arizona,

Excise

Tax

Revenue

Obligations,

Series

2015,

5.000%,

7/01/37

7/25

at

100.00

1,009,936

1,215

Cadence

Community

Facilities

District,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

3,

Series

2020,

4.000%,

7/01/45

7/30

at

100.00

1,036,034

123

(c),(e)

Cahava

Springs

Revitalization

District,

Cave

Creek,

Arizona,

Special

Assessment

Bonds,

Series

2017A,

7.000%,

7/01/41

7/27

at

100.00

94,597

1,210

(c)

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2015,

5.000%,

7/15/39

7/25

at

100.00

1,180,619

1,810

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2017,

5.000%,

7/15/42

-

AGM

Insured

7/27

at

100.00

1,874,595

2,445

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2018,

4.375%,

7/15/43

-

BAM

Insured

7/27

at

100.00

2,441,822

650

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2021,

4.000%,

7/15/41

-

BAM

Insured

7/31

at

100.00

615,996

484

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

1,

Series

2013,

5.250%,

7/01/38

7/24

at

100.00

466,982

697

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

1,

Series

2019,

5.200%,

7/01/43

7/27

at

100.00

630,858

2,280

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

12,

Series

2021,

3.750%,

7/01/45

7/30

at

100.00

1,680,028

1,035

Eastmark

Community

Facilities

District

2,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2020,

3.500%,

7/15/44

7/30

at

100.00

723,789

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2017:

105

5.000%,

7/15/32

-

AGM

Insured

7/27

at

100.00

108,589

1,145

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

Special

Assessment

Revenue

Bonds,

Lucero

Assessment

District

2,

Series

2023,

5.750%,

7/01/46

7/32

at

100.00

1,124,096

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2012:

345

5.000%,

7/15/27

-

BAM

Insured

7/24

at

100.00

345,229

1,085

5.000%,

7/15/31

7/24

at

100.00

1,085,530

500

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2016,

4.000%,

7/15/36

-

BAM

Insured

7/26

at

100.00

491,722

1,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2017,

5.000%,

7/15/37

-

BAM

Insured

7/27

at

100.00

1,024,550

590

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2018,

5.000%,

7/15/38

-

BAM

Insured

7/27

at

100.00

609,816

1,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2020,

4.000%,

7/15/40

-

BAM

Insured

7/30

at

100.00

947,071

2,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2022,

5.000%,

7/15/42

-

AGM

Insured

7/32

at

100.00

2,069,112

319

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

Special

Assessment

Revenue

Bonds,  Assessment

District

11,

Series

2017,

5.200%,

7/01/37

7/27

at

100.00

300,758

Goodyear

Community

Facilities

Utilities

District

1,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2016:

545

4.000%,

7/15/32

7/26

at

100.00

547,951

1,500

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D,

5.000%,

11/15/39

11/25

at

100.00

1,507,369

1,250

Guam

Government,

Limited

Obligation

Section

30

Revenue

Bonds,

Series

2016A,

5.000%,

12/01/46

12/26

at

100.00

1,249,133

7

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Tax

Obligation/Limited

(continued)

$

615

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A,

5.000%,

10/01/39

10/32

at

100.00

$

638,269

200

Merrill

Ranch

Community

Facilities

District

2,

Florence,

Arizona,

General

Obligation

Bonds,

Series

2016,

5.000%,

7/15/31

7/26

at

100.00

204,527

385

Merrill

Ranch

Community

Facilities

District

2,

Florence,

Arizona,

General

Obligation

Bonds,

Series

2017,

5.000%,

7/15/42

-

BAM

Insured

7/27

at

100.00

395,432

400

Parkway

Community

Facilities

District

1,

Prescott

Valley,

Arizona,

General

Obligation

Bonds,

Series

2006,

5.350%,

7/15/31

7/24

at

100.00

323,001

1,625

Phoenix

Civic

Improvement

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Subordinate

Lien

Series

2020A,

4.000%,

7/01/45

7/30

at

100.00

1,579,174

580

Phoenix

Mesa

Gateway

Airport

Authority,

Arizona,

Special

Facility

Revenue

Bonds,

Mesa

Project,

Series

2012,

5.000%,

7/01/38,

(AMT)

7/24

at

100.00

580,061

1,000

Pinal

County,

Arizona,

Pledged

Revenue

Obligations,

Series

2014,

5.000%,

8/01/33

8/24

at

100.00

1,001,448

1,500

Pinal

County,

Arizona,

Pledged

Revenue

Obligations,

Series

2019,

4.000%,

8/01/38

8/28

at

100.00

1,500,949

9,520

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1,

0.000%,

7/01/46

7/28

at

41.38

3,049,283

2,440

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2,

4.784%,

7/01/58

7/28

at

100.00

2,418,417

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Refunding

Series

2016:

540

4.000%,

8/01/34

8/26

at

100.00

545,110

545

4.000%,

8/01/36

8/26

at

100.00

549,841

1,740

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Series

2018A,

5.000%,

8/01/42

8/28

at

100.00

1,821,155

2,500

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Series

2020,

4.000%,

8/01/45

8/30

at

100.00

2,432,005

San

Luis,

Arizona,

Pledged

Excise

Tax

Revenue

Bonds,

Refunding

Series2014A:

1,400

5.000%,

7/01/34

-

BAM

Insured

7/24

at

100.00

1,401,072

2,100

5.000%,

7/01/38

-

BAM

Insured

7/24

at

100.00

2,101,608

3,000

Scottsdale

Municipal

Property

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Refunding

Series

2006,

5.000%,

7/01/24

No

Opt.

Call

3,002,653

1,650

Sundance

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2018,

5.000%,

7/15/39

-

BAM

Insured

7/28

at

100.00

1,730,228

347

Superstition

Vistas

Community

Facilities

District

1,

Apache

Junction,

Arizona,

Special

Assessment

Bonds,  Assessment

Area

3,

Series

2024,

5.800%,

7/01/48

7/34

at

100.00

347,744

694

Superstition

Vistas

Community

Facilities

District

1,

Apache

Junction,

Arizona,

Special

Assessment

Revenue

Bonds,

Series

2023,

6.000%,

7/01/47

7/33

at

100.00

652,926

3,000

Town

of

Queen

Creek,

Arizona,

Excise

Tax

and

State

Shared

Revenue

Obligation

Bonds,

Series

2022,

5.000%,

8/01/47

8/32

at

100.00

3,208,960

500

Verrado

District

1

Community

Faciliites

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2023,

4.125%,

7/15/41

-

BAM

Insured

7/33

at

100.00

493,698

325

(c)

Vistancia

West

Community

Facilities

District,

Peoria,

Arizona,

General

Obligation

Bonds,

Series

2016,

3.250%,

7/15/25

7/24

at

100.00

322,790

4,240

Yavapai

County

Jail

District,

Arizona,

Pleged

Revenue

Obligation

Bonds,

Series

2020,

4.000%,

7/01/40

-

BAM

Insured

7/29

at

100.00

4,142,024

1,160

Yuma

County,

Arizona,

Pledge

Revenue

Obligations,

Series

2022,

4.250%,

7/15/42

-

BAM

Insured

7/32

at

100.00

1,161,312

Total

Tax

Obligation/Limited

60,428,805

Transportation

-

7.6%

(4.8%

of

Total

Investments)

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Junior

Lien

Series

2015A:

910

5.000%,

7/01/40

7/25

at

100.00

916,941

2,185

5.000%,

7/01/45

7/25

at

100.00

2,196,272

2,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Junior

Lien

Series

2019B,

5.000%,

7/01/49,

(AMT)

7/29

at

100.00

2,042,538

Nuveen

Arizona

Quality

Municipal

Income

Fund

(continued)

Portfolio

of

Investments

May

31,

2024

(Unaudited)

8

NAZ

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Transportation

(continued)

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Series

2017A:

$

1,000

5.000%,

7/01/37,

(AMT)

7/27

at

100.00

$

1,024,307

1,000

5.000%,

7/01/42,

(AMT)

7/27

at

100.00

1,014,879

1,500

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Series

2018,

5.000%,

7/01/43,

(AMT)

7/28

at

100.00

1,532,598

Phoenix

Civic

Improvement

Corporation,

Arizona,

Rental

Car

Facility

Charge

Revenue

Bonds,

Series

2019A:

1,045

5.000%,

7/01/35

7/29

at

100.00

1,106,043

1,000

5.000%,

7/01/38

7/29

at

100.00

1,047,269

Total

Transportation

10,880,847

U.S.

Guaranteed

-

3.1%

(1.9%

of

Total

Investments)

(f)

Arizona

Health

Facilities

Authority,

Revenue

Bonds,

Scottsdale

Lincoln

Hospitals

Project,

Refunding

Series

2014A:

2,370

5.000%,

12/01/42,

(Pre-refunded

12/01/24)

12/24

at

100.00

2,383,363

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2017:

550

5.000%,

7/15/32,

(Pre-refunded

7/15/27)

-

AGM

Insured

7/27

at

100.00

576,738

Goodyear

Community

Facilities

Utilities

District

1,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2016:

55

4.000%,

7/15/32,

(Pre-refunded

7/15/26)

7/26

at

100.00

55,580

1,320

Scottsdale

Municipal

Property

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Refunding

Series

2017,

5.000%,

7/01/36,

(Pre-refunded

7/01/27)

7/27

at

100.00

1,385,394

Total

U.S.

Guaranteed

4,401,075

Utilities

-

25.1%

(15.6%

of

Total

Investments)

Carefree

Utilities

Community

Facilities

District,

Arizona,

Water

System

Revenue

Bonds,

Series

2021:

30

4.000%,

7/01/41

7/31

at

100.00

29,623

650

4.000%,

7/01/46

7/31

at

100.00

622,647

655

Central

Arizona

Water

Conservation

District,

Arizona,

Water

Delivery

O&M

Revenue

Bonds,

Series

2016,

5.000%,

1/01/36

1/26

at

100.00

664,856

2,615

City

of

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2022C,

5.000%,

7/01/36

No

Opt.

Call

2,997,302

1,250

Gilbert

Water

Resource

Municipal

Property

Corporation,

Arizona,

Utility

System

Revenue

Bonds,

Senior

Lien

Green

Series

2022,

4.000%,

7/15/47

7/32

at

100.00

1,201,012

785

Goodyear,

Arizona,

Water

and

Sewer

Revenue

Obligations,

Refunding

Subordinate

Lien

Series

2016,

5.000%,

7/01/45

-

AGM

Insured

7/26

at

100.00

795,326

875

Goodyear,

Arizona,

Water

and

Sewer

Revenue

Obligations,

Subordinate

Lien

Series

2020,

4.000%,

7/01/49

-

AGM

Insured

7/29

at

100.00

811,211

1,100

Guam

Power

Authority,

Revenue

Bonds,

Series

2014A,

5.000%,

10/01/39

10/24

at

100.00

1,102,667

1,125

Lake

Havasu

City,

Arizona,

Wastewater

System

Revenue

Bonds,

Refunding

Senior

Lien

Series

2015A,

5.000%,

7/01/36

-

AGM

Insured

7/25

at

100.00

1,138,907

1,205

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2022A,

5.000%,

7/01/46

-

BAM

Insured

7/32

at

100.00

1,284,142

1,840

Phoenix

Civic

Improvement

Corporation,

Arizona,

Wastewater

System

Revenue

Bonds,

Junior

Lien

Series

2023,

5.250%,

7/01/47

7/33

at

100.00

2,026,059

1,135

Phoenix

Civic

Improvement

Corporation,

Arizona,

Wastewater

System

Revenue

Bonds,

Refunding

Junior

Lien

Series

2014,

5.000%,

7/01/29

7/24

at

100.00

1,135,770

1,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Water

System

Revenue

Bonds,

Junior

Lien

Series

2021A,

4.000%,

7/01/42

7/31

at

100.00

979,602

1,000

(c)

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B,

5.000%,

7/01/37

7/31

at

100.00

1,041,054

1,500

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Refunding

Series

2015A,

5.000%,

12/01/36

6/25

at

100.00

1,517,001

2,500

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2023A,

5.000%,

1/01/47

1/33

at

100.00

2,661,524

1,155

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2023B,

5.000%,

1/01/48

1/34

at

100.00

1,241,479

9

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

(“U.S.

GAAP”)

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund’s

notes

to

financial

statements,

please

refer

to

the

Fund’s

most

recently

filed

annual

or

semi-annual

report.

Fair

Value

Measurements

The

Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

Principal

Amount

(000)

Description

(a)

Optional

Call

Provisions

(b)

Value

Utilities

(continued)

Salt

Verde

Financial

Corporation,

Arizona,

Senior

Gas

Revenue

Bonds,

Citigroup

Energy

Inc

Prepay

Contract

Obligations,

Series

2007:

$

4,500

5.500%,

12/01/29

No

Opt.

Call

$

4,728,570

5,665

5.000%,

12/01/37

No

Opt.

Call

6,017,041

805

Surprise,

Arizona,

Utility  System

Revenue

Bonds,

Refunding

Senior

Lien

Series

2018,

5.000%,

7/01/36

7/28

at

100.00

860,478

3,000

Yuma,

Arizona,

Utilities

System

Revenue

Bonds,

Series

2021,

4.000%,

7/01/40

-

BAM

Insured

7/31

at

100.00

2,947,899

Total

Utilities

35,804,170

Total

Municipal

Bonds

(cost

$233,962,210)

228,981,124

Total

Long-Term

Investments

(cost

$233,962,210)

228,981,124

AMTP

Shares,

Net

-

(61.8)%

(g)

(

88,260,871

)

Other

Assets

&

Liabilities,

Net

-

1.5%

2,140,692

Net

Assets

Applicable

to

Common

Shares

-

100%

$

142,860,945

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

228,981,124

$

–

$

228,981,124

Total

$

–

$

228,981,124

$

–

$

228,981,124

(a)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(b)

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.

(c)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$15,425,102

or

6.7%

of

Total

Investments.

(d)

Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(e)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(f)

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.

(g)

AMTP

Shares,

Net

as

a

percentage

of

Total

Investments

is

38.5%.

AMT

Alternative

Minimum

Tax

WI/DD

When-issued

or

delayed

delivery

security.

---