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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Nuveen California Municipal Market Opportunity Fund, Inc. | NYSE:NCO | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 14.76 | 0.00 | 01:00:00 |
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- 07755
Nuveen Multistate Trust II
(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: February 28
Date of reporting period: November 30, 2012
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.
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Discretionary – 0.8% |
||||||||||||||||||
| $ | 275 |
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Third Tier Series 2001C, 9.750%, 1/01/26 |
7/13 at 100.00 | N/R | $ | 276,097 | ||||||||||||
| 1,000 |
Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-2, 5.500%, 1/01/36 – ACA Insured |
1/16 at 100.00 | CCC | 647,750 | ||||||||||||||
| 1,000 |
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Southgate Suites Hotel LLC Project, Series 2007A, 6.750%, 12/15/37 (4) |
12/17 at 100.00 | N/R | 453,170 | ||||||||||||||
| 500 |
Morongo Band of Mission Indians, California, Enterprise Revenue Bonds, Series 2008B, 6.500%, 3/01/28 |
3/18 at 100.00 | N/R | 535,415 | ||||||||||||||
| 170 |
Norfolk Economic Development Authority, Virginia, Empowerment Zone Facility Revenue Bonds, BBL Old Dominion University LLC Project Revenue Bonds, Series 2006B, 5.625%, 11/01/15 (Alternative Minimum Tax) |
No Opt. Call | N/R | 159,115 | ||||||||||||||
| 2,945 |
Total Consumer Discretionary |
2,071,547 | ||||||||||||||||
|
Consumer Staples – 4.0% |
||||||||||||||||||
| 1,000 |
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A, 5.000%, 6/01/47 |
6/17 at 100.00 | BB | 825,130 | ||||||||||||||
| 50 |
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 5.250%, 6/01/45 |
6/15 at 100.00 | B– | 44,213 | ||||||||||||||
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: |
||||||||||||||||||
| 1,000 |
4.500%, 6/01/27 |
6/17 at 100.00 | B– | 923,560 | ||||||||||||||
| 3,250 |
5.000%, 6/01/33 |
6/17 at 100.00 | B– | 2,918,988 | ||||||||||||||
| 1,845 |
5.750%, 6/01/47 |
6/17 at 100.00 | B– | 1,722,437 | ||||||||||||||
| 1,420 |
5.125%, 6/01/47 |
6/17 at 100.00 | B– | 1,200,212 | ||||||||||||||
| 1,000 |
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-2, 5.300%, 6/01/37 |
6/22 at 100.00 | BB– | 894,200 | ||||||||||||||
|
Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2001A: |
||||||||||||||||||
| 1,000 |
5.000%, 6/01/37 |
6/14 at 100.00 | BB+ | 871,330 | ||||||||||||||
| 2,000 |
5.125%, 6/01/46 |
6/14 at 100.00 | B+ | 1,695,600 | ||||||||||||||
| 12,565 |
Total Consumer Staples |
11,095,670 | ||||||||||||||||
|
Education and Civic Organizations – 8.7% |
||||||||||||||||||
| 2,000 |
California Educational Facilities Authority, Revenue Bonds, California College of the Arts, Series 2005, 5.000%, 6/01/35 |
6/15 at 100.00 | BBB– | 2,049,100 | ||||||||||||||
| 1,065 |
California Educational Facilities Authority, Revenue Bonds, Dominican University, Series 2006, 5.000%, 12/01/36 |
12/16 at 100.00 | Baa3 | 1,103,638 | ||||||||||||||
| 75 |
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2005A, 5.000%, 10/01/35 |
10/15 at 100.00 | A3 | 78,890 | ||||||||||||||
| 1,250 |
California Educational Facilities Authority, Revenue Bonds, University of Southern California, Tender Option Bond Trust 3144, 18.313%, 10/01/16 (IF) |
No Opt. Call | Aa1 | 2,182,800 | ||||||||||||||
| 100 |
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006, 5.000%, 11/01/36 |
11/15 at 100.00 | A2 | 105,219 | ||||||||||||||
|
California Educational Facilities Authority, Revenue Bonds, Woodbury University, Series 2006: |
||||||||||||||||||
| 1,165 |
5.000%, 1/01/30 |
1/15 at 100.00 | Baa3 | 1,186,657 | ||||||||||||||
| 500 |
5.000%, 1/01/36 |
1/15 at 100.00 | Baa3 | 507,590 | ||||||||||||||
| 1,000 |
California Municipal Finance Authority, Charter School Lease Revenue Bonds, Rocketship 7 – Alma Academy Elementary School, Series 2012A, 6.250%, 6/01/43 |
12/21 at 101.00 | N/R | 1,024,450 | ||||||||||||||
| 16 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 665 |
California Municipal Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Series 2012A, 5.000%, 8/01/32 (WI/DD, Settling 12/06/12) |
No Opt. Call | BB+ | $ | 672,581 | ||||||||||||
| 1,000 |
California Municipal Finance Authority, Education Revenue Bonds, American Heritage Education Foundation Project, Series 2006A, 5.250%, 6/01/36 |
6/16 at 100.00 | BB– | 952,060 | ||||||||||||||
| 1,335 |
California Municipal Finance Authority, Educational Facilities Revenue Bonds, OCEAA Project, Series 2008A, 7.000%, 10/01/39 |
10/18 at 100.00 | N/R | 1,348,150 | ||||||||||||||
| 300 |
California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2012A, 6.625%, 1/01/32 |
1/22 at 100.00 | N/R | 321,867 | ||||||||||||||
| 1,500 |
California Municipal Finance Authority, Revenue Refunding Bonds, Biola University, Series 2008A, 5.875%, 10/01/34 |
4/18 at 100.00 | Baa1 | 1,651,785 | ||||||||||||||
| 1,000 |
California School Finance Authority, Educational Facilities Revenue Bonds, Tri-Valley Learning Corporation, Series 2012A, 7.000%, 6/01/47 |
6/20 at 102.00 | N/R | 1,023,660 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Charter School Revenue Bonds – Albert Einstein Academy for Letters, Arts, & Sciences Charter School Series 2012, 6.000%, 11/01/32 |
No Opt. Call | N/R | 1,014,120 | ||||||||||||||
| 1,000 |
California Statewide Communitities Development Authority, Charter School Revenue Bonds, Rocketship 4 – Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41 |
12/21 at 100.00 | N/R | 1,168,160 | ||||||||||||||
| 750 |
California Statewide Communitities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 |
7/21 at 100.00 | BBB | 861,533 | ||||||||||||||
| 815 |
California Statewide Community Development Authority, Charter School Revenue Bonds, Rocklin Academy Charter, Series 2011A, 8.250%, 6/01/41 |
6/21 at 100.00 | BB+ | 969,866 | ||||||||||||||
| 500 |
California Statewide Community Development Authority, Revenue Bonds, California Baptist University, Series 2007A, 5.500%, 11/01/38 |
11/17 at 102.00 | N/R | 540,235 | ||||||||||||||
| 2,135 |
California Statewide Community Development Authority, Revenue Bonds, Drew School, Series 2007, 5.300%, 10/01/37 |
10/15 at 102.00 | N/R | 2,187,841 | ||||||||||||||
| 200 |
California Statewide Community Development Authority, Revenue Bonds, International School of the Peninsula, Palo Alto, California, Series 2006, 5.000%, 11/01/29 |
11/16 at 100.00 | N/R | 201,476 | ||||||||||||||
| 390 |
California Statewide Community Development Authority, Revenue Bonds, Montessori in Redlands School, Series 2007A, 5.125%, 12/01/36 |
12/16 at 100.00 | N/R | 352,845 | ||||||||||||||
| 200 |
Hawaii Department of Budget and Finance, Private School Revenue Bonds, Montessori of Maui, Series 2007, 5.500%, 1/01/37 |
2/17 at 100.00 | N/R | 197,102 | ||||||||||||||
| 600 |
La Vernia Education Financing Corporation, Texas, Charter School Revenue Bonds, Riverwalk Education Foundation, Series 2007A, 5.450%, 8/15/36 |
2/13 at 100.00 | N/R | 561,360 | ||||||||||||||
| 100 |
Pima County Industrial Development Authority, Arizona, Choice Education and Development Charter School Revenue Bonds, Series 2006, 6.375%, 6/01/36 |
6/16 at 100.00 | N/R | 102,418 | ||||||||||||||
| 65 |
Pima County Industrial Development Authority, Arizona, Educational Revenue Bonds, Paradise Education Center Charter School, Series 2006, 6.000%, 6/01/36 |
6/16 at 100.00 | BBB– | 66,729 | ||||||||||||||
| 385 |
Pingree Grove Village, Illinois, Charter School Revenue Bonds, Cambridge Lakes Learning Center, Series 2007, 6.000%, 6/01/36 |
6/16 at 102.00 | N/R | 358,038 | ||||||||||||||
| 1,060 |
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006, 5.000%, 9/01/34 |
9/15 at 102.00 | Baa2 | 1,100,291 | ||||||||||||||
| 22,155 |
Total Education and Civic Organizations |
23,890,461 | ||||||||||||||||
|
Health Care – 10.1% |
||||||||||||||||||
| 50 |
California Health Facilities Financing Authority, Health Facility Revenue Bonds, Adventist Health System/West, Series 2003A, 5.000%, 3/01/33 |
3/13 at 100.00 | A | 50,288 | ||||||||||||||
| Nuveen Investments | 17 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
| $ | 1,220 |
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Series 2012A, 5.000%, 8/15/51 (UB) (5) |
8/22 at 100.00 | AA | $ | 1,404,708 | ||||||||||||
| 695 |
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children’s Hospital, Tender Option Bond Trust 4726, 17.700%, 8/15/51 (IF) (5) |
8/22 at 100.00 | AA | 1,115,892 | ||||||||||||||
| 1,000 |
California Municipal Financing Authority, Certificates of Participation, Community Hospitals of Central California, Series 2007, 5.250%, 2/01/27 |
2/17 at 100.00 | BBB | 1,066,690 | ||||||||||||||
| 1,500 |
California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31 |
7/17 at 100.00 | N/R | 1,565,910 | ||||||||||||||
| 490 |
California Statewide Community Development Authority, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008A, 5.500%, 7/01/30 |
7/17 at 100.00 | A | 556,380 | ||||||||||||||
|
California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los Angeles, Series 2007: |
||||||||||||||||||
| 250 |
5.000%, 8/15/39 – NPFG Insured |
8/17 at 100.00 | BBB | 263,083 | ||||||||||||||
| 2,500 |
5.000%, 8/15/47 |
8/17 at 100.00 | BBB+ | 2,650,775 | ||||||||||||||
|
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A: |
||||||||||||||||||
| 1,000 |
5.250%, 7/01/24 |
7/15 at 100.00 | BBB | 1,050,080 | ||||||||||||||
| 750 |
5.250%, 7/01/30 |
7/15 at 100.00 | BBB | 779,993 | ||||||||||||||
| 515 |
5.250%, 7/01/35 |
7/15 at 100.00 | BBB | 533,530 | ||||||||||||||
| 495 |
5.000%, 7/01/39 |
7/15 at 100.00 | BBB | 507,212 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Tender Option Bond Trust 1065, 17.335%, 4/01/42 (IF) (5) |
4/22 at 100.00 | A+ | 1,658,490 | ||||||||||||||
| 715 |
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3048, 18.606%, 11/15/32 (IF) |
5/18 at 100.00 | AA– | 1,170,083 | ||||||||||||||
| 1,285 |
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3102, 18.786%, 11/15/48 (IF) (5) |
5/18 at 100.00 | AA– | 2,102,877 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Revenue Bonds, Saint Joseph Health System, Trust 2554, 18.294%, 7/01/47 – AGM Insured (IF) |
7/18 at 100.00 | AA– | 1,650,480 | ||||||||||||||
| 1,490 |
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38 |
12/17 at 100.00 | BBB | 1,766,753 | ||||||||||||||
| 1,060 |
Oak Valley Hospital District, Stanislaus County, California, Revenue Bonds, Series 2010A, 7.000%, 11/01/35 |
11/20 at 100.00 | BB+ | 1,165,905 | ||||||||||||||
| 1,500 |
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39 |
11/19 at 100.00 | Baa3 | 1,729,995 | ||||||||||||||
| 500 |
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41 |
11/20 at 100.00 | Baa3 | 551,405 | ||||||||||||||
|
San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011: |
||||||||||||||||||
| 1,000 |
8.000%, 12/01/26 |
12/21 at 100.00 | BB | 1,330,330 | ||||||||||||||
| 500 |
7.500%, 12/01/41 |
12/21 at 100.00 | BB | 631,645 | ||||||||||||||
| 2,500 |
Tulare Local Health Care District, California, Revenue Bonds, Series 2007, 5.200%, 11/01/32 |
11/17 at 100.00 | BB+ | 2,457,875 | ||||||||||||||
| 60 |
Weatherford Hospital Authority, Oklahoma, Sales Tax Revenue Bonds, Series 2006, 6.000%, 5/01/31 |
5/16 at 103.00 | N/R | 61,114 | ||||||||||||||
| 23,075 |
Total Health Care |
27,821,493 | ||||||||||||||||
|
Housing/Multifamily – 4.5% |
||||||||||||||||||
| 1,400 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010B, 7.250%, 8/15/45 |
8/20 at 100.00 | N/R | 1,497,216 | ||||||||||||||
| 295 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47 |
8/22 at 100.00 | BBB | 317,494 | ||||||||||||||
| 18 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Housing/Multifamily (continued) |
||||||||||||||||||
| $ | 480 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47 |
8/22 at 100.00 | A1 | $ | 511,421 | ||||||||||||
| 400 |
California Municipal Finance Authority, Revenue Bonds, University Students Coop Association, Series 2007, 4.750%, 4/01/27 |
4/17 at 100.00 | BBB– | 416,992 | ||||||||||||||
| 120 |
California Statewide Communities Development Authority, Multifamily Housing Revenue Subordinate Bonds Stanford Arms Seniors Apartments Series 2001-P2, Pass-Through Certificates of Beneficial Ownership, 5.750%, 11/01/34 (Mandatory put 11/01/16) (Alternative Minimum Tax) |
11/16 at 100.00 | N/R | 120,398 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Lancer Educational Student Housing Revenue Bonds, California Baptist University, Series 2007, 5.625%, 6/01/33 |
6/17 at 102.00 | N/R | 1,070,230 | ||||||||||||||
| 350 |
California Statewide Community Development Authority, Multifamily Housing Revenue Bonds, Magnolia City Lights, Series 1999X, 6.650%, 7/01/39 |
2/13 at 100.00 | N/R | 350,200 | ||||||||||||||
| 740 |
Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Augusta Communities Mobile Home Park, Series 2012A, 5.000%, 5/15/39 |
5/22 at 100.00 | A– | 787,589 | ||||||||||||||
| 1,000 |
Independent Cities Lease Finance Authority, California, Mobile Home Park Revenue Bonds, San Juan Mobile Estates Project, Series 2006A, 5.125%, 5/15/41 |
5/16 at 100.00 | BBB+ | 1,029,140 | ||||||||||||||
| 1,250 |
Richmond, California, Joint Powers Financing Agency Multifamily Housing Revenue Bonds, Westridge Hilltop Apartments, Series 2007, 5.000%, 12/15/33 |
12/12 at 100.00 | Baa2 | 1,221,338 | ||||||||||||||
| 3,730 |
San Jose, California, Multifamily Housing Revenue Bonds, Almaden Family Apartments Project, Series 2007B, 4.720%, 11/15/37 (Alternative Minimum Tax) |
No Opt. Call | N/R | 3,577,967 | ||||||||||||||
| 495 |
Santa Clara County Housing Authority, California, Multifamily Housing Revenue Bonds, Blossom River Project, Series 1998A, 6.500%, 9/01/39 |
2/13 at 100.00 | N/R | 495,119 | ||||||||||||||
| 717 |
Ventura County Area Housing Authority, California, Mira Vista Senior Apartments Project, Junior Subordinate Series 2006C, 6.500%, 12/01/39 (Mandatory put 7/01/16) (Alternative Minimum Tax) |
7/16 at 100.00 | N/R | 705,213 | ||||||||||||||
| 485 |
Wilson County Health and Educational Facilities Board, Tennessee, Senior Living Revenue Bonds, Rutland Place, Series 2007A, 6.300%, 7/01/37 |
7/17 at 100.00 | N/R | 303,954 | ||||||||||||||
| 12,462 |
Total Housing/Multifamily |
12,404,271 | ||||||||||||||||
|
Housing/Single Family – 0.4% |
||||||||||||||||||
| 500 |
California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2007E, 4.800%, 8/01/37 (Alternative Minimum Tax) |
2/17 at 100.00 | BBB | 492,785 | ||||||||||||||
| 600 |
California Housing Finance Agency, Home Mortgage Revenue Bonds, Tender Option Bond Trust 3206, 7.891%, 8/01/25 (Alternative Minimum Tax) (IF) |
2/16 at 100.00 | BBB | 568,920 | ||||||||||||||
| 1,100 |
Total Housing/Single Family |
1,061,705 | ||||||||||||||||
|
Industrials – 0.1% |
||||||||||||||||||
| 65 |
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002A, 5.000%, 1/01/22 (Alternative Minimum Tax) |
1/16 at 102.00 | BBB | 71,781 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Revenue Bonds, EnerTech Regional Biosolids Project, Series 2007A, 5.500%, 12/01/33 (Alternative Minimum Tax) (4) |
No Opt. Call | D | 59,770 | ||||||||||||||
| 750 |
Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc., Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (4) |
7/17 at 102.00 | N/R | 105,203 | ||||||||||||||
| 1,815 |
Total Industrials |
236,754 | ||||||||||||||||
| Nuveen Investments | 19 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Long-Term Care – 2.4% |
||||||||||||||||||
|
California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009: |
||||||||||||||||||
| $ | 500 |
8.000%, 11/01/29 |
11/19 at 100.00 | Baa1 | $ | 607,680 | ||||||||||||
| 1,040 |
8.500%, 11/01/39 |
11/19 at 100.00 | Baa1 | 1,274,530 | ||||||||||||||
| 520 |
California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 6.250%, 10/01/39 |
10/19 at 100.00 | BBB+ | 578,661 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Revenue Bonds, Terraces San Joaquin Gardens, Series 2012A, 5.625%, 10/01/32 |
10/22 at 100.00 | N/R | 1,074,970 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Revenue Bonds, Hollenbeck Palms, Magnolia Assisted Living, Series 2007A, 4.600%, 2/01/37 – RAAI Insured (Alternative Minimum Tax) |
2/17 at 100.00 | N/R | 967,340 | ||||||||||||||
| 1,000 |
Fulton County Residential Care Facilities Authority, Georgia, Revenue Bonds, Elderly Care, Lenbrook Square Project, Series 2006A, 5.125%, 7/01/37 |
7/17 at 100.00 | N/R | 1,003,320 | ||||||||||||||
| 50 |
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, CDF Healthcare of Louisiana LLC, Series 2006A, 7.000%, 6/01/36 |
6/16 at 101.00 | N/R | 51,531 | ||||||||||||||
| 1,000 |
Wisconsin Public Finance Authority, Revenue Bonds, SearStone Retirement Community of Cary North Carolina, Series 2012A, 8.625%, 6/01/47 |
6/22 at 100.00 | N/R | 1,096,140 | ||||||||||||||
| 6,110 |
Total Long-Term Care |
6,654,172 | ||||||||||||||||
|
Tax Obligation/General – 2.0% |
||||||||||||||||||
|
Bakersfield City School District, Kern County, California, General Obligation Bonds, Series 2012C: |
||||||||||||||||||
| 1,100 |
0.000%, 5/01/37 |
No Opt. Call | Aa2 | 423,742 | ||||||||||||||
| 5,250 |
0.000%, 5/01/42 |
5/40 at 100.00 | Aa2 | 2,062,095 | ||||||||||||||
| 385 |
Bessemer, Alabama, General Obligation Warrants, Series 2007, 6.500%, 2/01/37 |
2/17 at 102.00 | N/R | 361,053 | ||||||||||||||
| 1,000 |
Guam Government, General Obligation Bonds, 2009 Series A, 7.000%, 11/15/39 |
11/19 at 100.00 | B+ | 1,140,550 | ||||||||||||||
| 500 |
Guam, General Obligation Bonds, Series 2007A, 5.250%, 11/15/37 |
11/17 at 100.00 | B+ | 512,805 | ||||||||||||||
| 250 |
Palomar Pomerado Health, California, General Obligation Bonds, Tender Option Bond Trust 4683, 17.592%, 8/01/37 – NPFG Insured (IF) (5) |
8/17 at 100.00 | A+ | 395,160 | ||||||||||||||
| 500 |
Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Series 2006, 4.550%, 9/01/30 – FGIC Insured |
9/15 at 100.00 | A | 517,455 | ||||||||||||||
| 8,985 |
Total Tax Obligation/General |
5,412,860 | ||||||||||||||||
|
Tax Obligation/Limited – 52.0% |
||||||||||||||||||
| 3,000 |
Anaheim Public Finance Authority, California, Senior Lease Bonds, Public Improvement Project, Refunding Series 2007A-1, 4.750%, 9/01/33 – FGIC Insured |
9/17 at 100.00 | A1 | 3,297,089 | ||||||||||||||
| 4,305 |
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured |
No Opt. Call | AA– | 1,370,325 | ||||||||||||||
| 1,000 |
Azusa Redevelopment Agency, California, Tax Allocation Refunding Bonds, Merged West End Development, Series 2007B, 5.300%, 8/01/36 |
8/17 at 100.00 | N/R | 932,820 | ||||||||||||||
| 695 |
Azusa, California, Special Tax Bonds, Community Facilities District 2005-1 Rosedale Improvement Area 1, Series 2007, 5.000%, 9/01/27 |
9/17 at 100.00 | N/R | 690,649 | ||||||||||||||
| 1,000 |
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 20 Series 2012B, 5.950%, 9/01/35 |
9/22 at 100.00 | N/R | 1,055,930 | ||||||||||||||
| 1,000 |
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 8C, Series 2007E, 6.250%, 9/01/38 |
9/14 at 100.00 | N/R | 1,010,840 | ||||||||||||||
|
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 8D & 17B, Series 2009B: |
||||||||||||||||||
| 60 |
8.875%, 9/01/34 |
9/15 at 100.00 | N/R | 61,976 | ||||||||||||||
| 125 |
8.625%, 9/01/39 |
9/15 at 100.00 | N/R | 129,076 | ||||||||||||||
| 20 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 300 |
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Series 2006B, 5.050%, 9/01/37 |
9/13 at 100.50 | N/R | $ | 296,634 | ||||||||||||
| 1,000 |
Borrego Water District, California, Community Facilities District 2007-1 Montesoro, Special Tax Bonds, Series 2007, 5.750%, 8/01/32 (4) |
8/17 at 102.00 | N/R | 270,200 | ||||||||||||||
| 1,500 |
Brentwood Infrastructure Financing Authority, Contra Costa County, California, CIFP 2006-1 Infrastructure Revenue Bonds, Series 2006, 5.200%, 9/02/36 |
9/15 at 102.00 | N/R | 1,469,820 | ||||||||||||||
| 1,000 |
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2012A, 5.000%, 4/01/37 |
4/22 at 100.00 | A2 | 1,127,460 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Recovery Zone Facility Bonds, SunEdison Huntington Beach Solar Projects, Series 2010, 7.500%, 1/01/31 |
1/21 at 100.00 | N/R | 1,092,040 | ||||||||||||||
| 1,415 |
California Statewide Communities Development Authority, Recovery Zone Facility Bonds, SunEdison Irvine Unified School District Solar Projects, Series 2010, 7.500%, 7/01/30 |
1/20 at 100.00 | N/R | 1,532,219 | ||||||||||||||
| 1,000 |
California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A, 8.000%, 9/02/41 |
9/21 at 100.00 | N/R | 1,084,210 | ||||||||||||||
| 250 |
California Statewide Community Development Authority, Revenue Bonds, Epidaurus Project, Series 2004A, 7.750%, 3/01/34 |
3/14 at 102.00 | N/R | 261,360 | ||||||||||||||
|
Chino Public Financing Authority, California, Revenue Refunding Bonds, Series 2012: |
||||||||||||||||||
| 1,160 |
5.000%, 9/01/34 |
9/22 at 100.00 | N/R | 1,209,961 | ||||||||||||||
| 315 |
5.000%, 9/01/38 |
9/22 at 100.00 | N/R | 325,540 | ||||||||||||||
| 1,000 |
Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Housing Second Lien Series 2010A, 5.500%, 8/01/30 |
8/20 at 100.00 | N/R | 1,020,600 | ||||||||||||||
| 500 |
Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Second Lien Series 2010B, 5.750%, 8/01/26 |
8/20 at 100.00 | N/R | 523,605 | ||||||||||||||
| 990 |
Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36 |
12/21 at 100.00 | A+ | 1,241,242 | ||||||||||||||
| 1,610 |
Desert Hot Springs Redevelopment Agency, California, Merged Redevelopment Project Tax Allocation Bonds, Series 2008A-2, 5.000%, 9/01/23 |
9/18 at 100.00 | B | 1,277,696 | ||||||||||||||
| 85 |
Eastern Municipal Water District, California, Special Tax Bonds, Community Facility District 2005-38 Improvement Area A, Series 2006, 5.200%, 9/01/36 |
3/13 at 102.00 | N/R | 86,811 | ||||||||||||||
| 950 |
El Dorado County, California, Special Tax Bonds, Blackstone Community Facilities District 2005-1, Series 2005, 5.250%, 9/01/35 |
9/14 at 102.00 | N/R | 925,310 | ||||||||||||||
| 250 |
El Dorado County, California, Special Tax Bonds, Community Facilities District 2005-2, Series 2006, 5.100%, 9/01/36 |
9/14 at 102.00 | N/R | 251,760 | ||||||||||||||
|
Elk Grove Community Facilities District 2005-1, California, Special Tax Bonds, Series 2007: |
||||||||||||||||||
| 80 |
5.000%, 9/01/18 |
9/17 at 100.00 | N/R | 78,158 | ||||||||||||||
| 10 |
5.000%, 9/01/20 |
9/17 at 100.00 | N/R | 9,460 | ||||||||||||||
| 50 |
5.125%, 9/01/22 |
3/13 at 103.00 | N/R | 46,573 | ||||||||||||||
| 980 |
5.200%, 9/01/27 |
9/15 at 102.00 | N/R | 827,198 | ||||||||||||||
| 1,200 |
5.250%, 9/01/37 |
9/15 at 102.00 | N/R | 992,244 | ||||||||||||||
| 500 |
Fairfield, California, Community Facilities District 2007-1 Special Tax Bonds, Fairfield Commons Project, Series 2008, 6.875%, 9/01/38 |
9/18 at 100.00 | N/R | 530,930 | ||||||||||||||
| 710 |
Fillmore Redevelopment Agency, Ventura County, California, Central City Redevelopment Project, Subordinate Lien Tax Allocation Bonds, Series 2006A, 5.375%, 5/01/31 |
11/16 at 100.00 | N/R | 524,626 | ||||||||||||||
| Nuveen Investments | 21 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 500 |
Folsom Public Financing Authority, California, Subordinate Special Tax Revenue Bonds, Series 2007B, 5.200%, 9/01/32 |
9/17 at 100.00 | N/R | $ | 511,570 | ||||||||||||
| 1,000 |
Fontana, California, Special Tax Bonds, Community Facilities District 31 Citrus Heights North, Series 2006, 5.000%, 9/01/36 |
9/14 at 102.00 | N/R | 993,050 | ||||||||||||||
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Tender Option Bond Trust 1011: |
||||||||||||||||||
| 500 |
17.219%, 6/01/29 – AMBAC Insured (IF) (5) |
2/13 at 100.00 | A2 | 504,500 | ||||||||||||||
| 1,000 |
17.198%, 6/01/45 – AMBAC Insured (IF) (5) |
6/15 at 100.00 | A2 | 1,221,430 | ||||||||||||||
| 750 |
17.219%, 6/01/45 (IF) (5) |
6/15 at 100.00 | A2 | 916,290 | ||||||||||||||
| 1,000 |
Hawthorne Community Redevelopment Agency, California, Project Area 2 Tax Allocation Bonds, Series 2006, 5.000%, 9/01/26 – SYNCORA GTY Insured |
9/16 at 100.00 | N/R | 1,045,390 | ||||||||||||||
| 1,000 |
Hawthorne, California, Special Tax Bonds, Community Facilities District 2006-1, Three Sixty Degrees @ South Bay, Series 2006, 5.000%, 9/01/36 |
9/16 at 102.00 | N/R | 986,240 | ||||||||||||||
| 1,000 |
Hemet Unified School District Community Facilities District 2005-3, Riverside County, California, Special Tax Bonds, Series 2007, 5.750%, 9/01/39 |
9/13 at 100.50 | N/R | 1,003,030 | ||||||||||||||
| 200 |
Hemet Unified School District, California, Community Facilities District 2005-1 Special Tax Bonds, Series 2006, 5.125%, 9/01/36 |
9/13 at 100.00 | N/R | 200,856 | ||||||||||||||
|
Hercules Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005: |
||||||||||||||||||
| 1,000 |
5.000%, 8/01/25 – AMBAC Insured |
8/15 at 100.00 | CC | 724,580 | ||||||||||||||
| 500 |
4.750%, 8/01/35 – AMBAC Insured |
8/15 at 100.00 | CC | 320,955 | ||||||||||||||
|
Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax Allocation Bonds, Series 2007A: |
||||||||||||||||||
| 500 |
5.500%, 9/01/17 – SYNCORA GTY Insured |
No Opt. Call | Ba1 | 535,040 | ||||||||||||||
| 1,250 |
5.500%, 9/01/22 – SYNCORA GTY Insured |
9/17 at 100.00 | Ba1 | 1,269,175 | ||||||||||||||
| 1,000 |
5.500%, 9/01/27 – SYNCORA GTY Insured |
No Opt. Call | Ba1 | 1,005,000 | ||||||||||||||
| 1,250 |
5.000%, 9/01/37 – SYNCORA GTY Insured |
9/17 at 100.00 | Ba1 | 1,095,600 | ||||||||||||||
| 295 |
Hesperia Unified School District, San Bernardino County, California, Community Facilities District 2006-5 Special Tax Bonds, Series 2007, 5.000%, 9/01/37 |
9/17 at 100.00 | N/R | 293,732 | ||||||||||||||
| 240 |
Hesperia, California, Improvement Act of 1915, Assessment District, 91-1, Joshua West Main Street, Series 1992, 8.500%, 9/02/24 |
3/13 at 103.00 | N/R | 248,527 | ||||||||||||||
| 870 |
Imperial, California, Community Facilities District 2006-2 Savanna Ranch Special Tax Bonds, Improvement Area 1, Series 2006, 5.000%, 9/01/26 |
9/14 at 102.00 | N/R | 887,818 | ||||||||||||||
| 150 |
Indio, California, Special Tax Bonds, Community Facilities District 2006-1 Sonora Wells, Series 2006, 5.050%, 9/01/26 |
9/16 at 100.00 | N/R | 151,212 | ||||||||||||||
|
Inglewood Public Financing Authority, California, Lease Revenue Bonds, Series 2012: |
||||||||||||||||||
| 2,530 |
0.000%, 8/01/23 |
No Opt. Call | 1,324,910 | |||||||||||||||
| 1,600 |
0.000%, 8/01/25 |
No Opt. Call | 716,544 | |||||||||||||||
| 120 |
Irvine, California, Unified School District, Community Facilities District Special Tax Bonds, Series 2006A, 5.125%, 9/01/36 |
9/16 at 100.00 | N/R | 123,264 | ||||||||||||||
| 1,000 |
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 23 Eastvale, Series 2012A, 5.000%, 9/01/42 |
3/13 at 103.00 | NA | 1,030,540 | ||||||||||||||
| 1,115 |
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 25 Eastvale Area, Series 2008A, 8.375%, 9/01/28 |
9/18 at 100.00 | N/R | 1,310,426 | ||||||||||||||
| 500 |
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 34 Eastvale Area , Series 2010A, 6.500%, 9/01/40 |
9/20 at 100.00 | N/R | 516,770 | ||||||||||||||
| 500 |
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 38 Eastvale Improvement Area 2, Series 2010A, 6.375%, 9/01/40 |
3/13 at 103.00 | N/R | 516,825 | ||||||||||||||
| 22 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 1,570 |
Lake Elsinore Public Finance Authority, California, Local Agency Revenue Refunding Bonds, Assessment District 93-1, Series 2012B, 5.125%, 9/01/30 |
9/22 at 100.00 | N/R | $ | 1,573,988 | ||||||||||||
| 750 |
Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area C, Series 2010A, 6.250%, 9/01/40 |
2/13 at 100.00 | N/R | 772,958 | ||||||||||||||
| 1,000 |
Lake Elsinore, California, Special Tax Bonds, Community Facilities District 2004-3, Rosetta Canyon Improvement Area 2, Series 2006, 5.250%, 9/01/37 |
9/14 at 100.00 | N/R | 1,010,540 | ||||||||||||||
| 815 |
Lake Elsinore, California, Special Tax Bonds, Community Facilities District 2005-1, Series 2006A, 5.350%, 9/01/36 |
9/14 at 100.00 | N/R | 835,310 | ||||||||||||||
| 1,500 |
Lake Elsinore, California, Special Tax Bonds, Community Facilities District 2005-2 Improvement Area A, Series 2005A, 5.450%, 9/01/36 |
9/14 at 100.00 | N/R | 1,506,480 | ||||||||||||||
| 2,000 |
Lammersville School District, California, Special Tax Refunding Bonds, Community Facilities District 2002 Mountain House, Series 2012, 0.000%, 9/01/32 |
9/22 at 100.00 | N/R | 1,821,220 | ||||||||||||||
| 1,335 |
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas Housing Programs, Series 2009, 6.875%, 8/01/39 |
8/19 at 100.00 | BBB+ | 1,552,885 | ||||||||||||||
|
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas Housing Programs, Subordinate Refunding Series 2003: |
||||||||||||||||||
| 500 |
4.750%, 8/01/27 – NPFG Insured |
8/15 at 102.00 | BBB+ | 512,160 | ||||||||||||||
| 1,000 |
4.750%, 8/01/33 – NPFG Insured |
8/15 at 102.00 | BBB+ | 1,004,260 | ||||||||||||||
| 2,000 |
Los Alamitos Unified School District, Orange County, California, Certificates of Participation, Series 2012, 0.000%, 8/01/42 |
8/29 at 100.00 | A+ | 1,283,660 | ||||||||||||||
| 1,000 |
Los Angeles Community Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Bunker Hill Redevelopment Project, Series 2004L, 5.000%, 3/01/18 |
3/13 at 100.00 | BBB– | 1,004,570 | ||||||||||||||
| 250 |
Los Banos Redevelopment Agency, California, Tax Allocation Bonds, Los Banos Redevelopment Project, Series 2006, 5.000%, 9/01/36 – RAAI Insured |
9/16 at 100.00 | BBB | 254,948 | ||||||||||||||
| 1,275 |
Lynwood Redevelopment Agency, California, Project A Revenue Bonds, Subordinate Lien Series 2011A, 7.250%, 9/01/38 |
9/21 at 100.00 | A– | 1,563,558 | ||||||||||||||
|
March Joint Powers Redevelopment Agency, California, March Air Force Base Redevelopment Project Tax Allocation Revenue Bonds, Series 2011A: |
||||||||||||||||||
| 300 |
7.250%, 8/01/31 |
8/21 at 100.00 | BBB+ | 362,976 | ||||||||||||||
| 1,550 |
7.500%, 8/01/41 |
8/21 at 100.00 | BBB+ | 1,864,557 | ||||||||||||||
| 500 |
March Joint Powers Redevelopment Agency, California, March Air Force Base Redevelopment Project Tax Allocation Revenue Bonds, Series 2011B, 7.500%, 8/01/41 |
8/21 at 100.00 | BBB+ | 601,470 | ||||||||||||||
| 130 |
Merced, California, Community Facilities District 2005-1, Special Tax Bonds, Bellevue Ranch West, Series 2006, 5.300%, 9/01/36 |
9/13 at 103.00 | N/R | 85,504 | ||||||||||||||
| 65 |
Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2004-5, Series 2006, 5.200%, 9/01/36 |
3/16 at 100.00 | N/R | 66,102 | ||||||||||||||
| 1,000 |
Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2004-6, Series 2005, 5.200%, 9/01/36 |
3/13 at 103.00 | N/R | 1,019,680 | ||||||||||||||
| 1,000 |
Moreno Valley, California, Special Tax Bonds, Community Facilities District 5, Series 2007, 5.000%, 9/01/37 |
9/17 at 100.00 | N/R | 1,000,760 | ||||||||||||||
| 1,000 |
Murrieta Public Finance Authority, California, Special Tax Revenue Bonds, Refunding Series 2012, 5.000%, 9/01/31 |
9/22 at 100.00 | BBB– | 1,117,290 | ||||||||||||||
| 125 |
Murrieta Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2002-4, Series 2006B, 5.450%, 9/01/38 |
9/16 at 100.00 | N/R | 126,365 | ||||||||||||||
| Nuveen Investments | 23 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 330 |
Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 |
9/21 at 100.00 | BBB+ | $ | 391,608 | ||||||||||||
| 830 |
Oakley Public Financing Authority, Contra Costa County, California, Revenue Bonds, Refunding Series 2012, 5.300%, 9/02/34 |
9/22 at 100.00 | BBB– | 885,552 | ||||||||||||||
| 1,000 |
Oxnard Financing Authority, California, Local Obligation Revenue Bonds, Special District Bond Refinancings, Subordinate Lien Series 2012B, 5.000%, 9/02/33 |
9/22 at 100.00 | N/R | 1,006,060 | ||||||||||||||
| 1,000 |
Pacifica, California, Certificates of Participation, Series 2008, 5.375%, 1/01/37 – AMBAC Insured |
1/16 at 102.00 | A– | 1,080,000 | ||||||||||||||
| 2,000 |
Palm Desert Finance Authority, California, Tax Allocation Revenue Bonds, Project Area 3, Series 2006A, 4.750%, 4/01/36 – NPFG Insured |
4/16 at 100.00 | BBB+ | 2,030,700 | ||||||||||||||
| 1,000 |
Palm Desert Financing Authority, California, Tax Allocation Revenue Bonds, Project Area 1, Series 2003, 5.000%, 4/01/30 – NPFG Insured |
No Opt. Call | BBB | 1,002,400 | ||||||||||||||
|
Palm Desert, California, Special Tax Bonds, Community Facilities District 2005-1 University Park, Series 2006: |
||||||||||||||||||
| 225 |
5.000%, 9/01/21 |
3/13 at 103.00 | N/R | 225,135 | ||||||||||||||
| 1,000 |
5.450%, 9/01/32 |
9/16 at 100.00 | N/R | 993,450 | ||||||||||||||
| 350 |
5.300%, 9/01/32 |
3/13 at 103.00 | N/R | 340,942 | ||||||||||||||
| 1,500 |
5.500%, 9/01/36 |
9/16 at 100.00 | N/R | 1,464,885 | ||||||||||||||
| 1,600 |
Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.500%, 4/01/35 |
4/13 at 102.00 | BB | 1,638,832 | ||||||||||||||
| 1,000 |
Palm Drive Health Care District, Sonoma County, California, Parcel Tax Revenue Bonds, Series 2005, 5.250%, 4/01/30 |
4/13 at 102.00 | BB | 939,760 | ||||||||||||||
| 1,000 |
Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project Areas, Refunding Series 2004A, 5.000%, 9/01/34 – NPFG Insured |
9/14 at 102.00 | A | 1,082,800 | ||||||||||||||
| 1,230 |
Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project Areas, Series 2002, 0.000%, 12/01/30 – AMBAC Insured |
No Opt. Call | A– | 513,181 | ||||||||||||||
| 1,100 |
Perris Public Finance Authority, California, Local Agency Revenue Bonds, Perris Vally Vistas IA3, Series 2008B, 6.625%, 9/01/38 |
9/16 at 100.00 | N/R | 1,162,293 | ||||||||||||||
| 485 |
Perris Public Financing Authority, California, Local Agency Revenue Bonds, Series 2007D, 5.800%, 9/01/38 |
9/14 at 100.00 | N/R | 490,039 | ||||||||||||||
| 220 |
Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011, 6.125%, 9/01/41 |
3/13 at 103.00 | N/R | 227,209 | ||||||||||||||
| 570 |
Perris, California, Special Tax Bonds, Community Facilities District 2001-1, Improvement Area 5-A, Series 2006, 5.000%, 9/01/37 |
9/13 at 100.50 | N/R | 570,713 | ||||||||||||||
| 1,500 |
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28 |
9/18 at 100.00 | BBB– | 1,658,430 | ||||||||||||||
| 1,300 |
Pittsburg Redevelopment Agency, California, Tax Allocation Refunding Bonds, Los Medanos Community Development Project, Series 2006C, 4.250%, 9/01/34 – AMBAC Insured |
9/16 at 100.00 | BBB– | 1,230,944 | ||||||||||||||
| 250 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Tender Option Bond Trust 1081, 20.729%, 8/01/57 (IF) (5) |
8/19 at 100.00 | AA– | 380,340 | ||||||||||||||
| 2,000 |
Rancho Cardova, California, Special Tax Bonds, Sunridge Park Area Community Facilities District 2004-1, Series, 6.125%, 9/01/37 |
9/17 at 100.00 | N/R | 2,113,860 | ||||||||||||||
| 500 |
Rancho Cordova, California, Special Tax Bonds, Sunridge Anatolia Area Community Facilities District 2003-1, Series 2005, 5.500%, 9/01/37 |
9/13 at 102.00 | N/R | 505,545 | ||||||||||||||
| 1,000 |
Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.500%, 9/01/26 |
9/21 at 100.00 | BBB+ | 1,168,500 | ||||||||||||||
| 500 |
Redwood City, California, Special Tax Bonds, Community Facilities District 2010-1 One Marina, Series 2011, 7.500%, 9/01/31 |
9/16 at 103.00 | N/R | 551,605 | ||||||||||||||
| 24 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 1,710 |
Riverside County Public Financing Authority, California, Tax Allocation Bonds, Multiple Projects, Series 2004, 5.000%, 10/01/35 – SYNCORA GTY Insured |
10/14 at 100.00 | BBB | $ | 1,722,705 | ||||||||||||
| 500 |
Riverside County Redevelopment Agency, California, Interstate 215 Corridor Redevelopment Project Area Tax Allocation Bonds, Series 2010E, 6.500%, 10/01/40 |
10/20 at 100.00 | A– | 569,630 | ||||||||||||||
| 205 |
Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series 2011A, 7.125%, 10/01/42 |
10/21 at 100.00 | A– | 256,002 | ||||||||||||||
| 875 |
Riverside County, California, Special Tax Bonds, Community Facilities District 04-2 Lake Hill Crest, Series 2012, 5.000%, 9/01/35 |
9/22 at 100.00 | N/R | 910,578 | ||||||||||||||
| 2,000 |
Riverside County, California, Special Tax Bonds, Community Facilities District 05-8 Scott Road, Series 2008, 7.250%, 9/01/38 |
9/17 at 100.00 | N/R | 2,065,680 | ||||||||||||||
| 2,500 |
Riverside Public Financing Authority, California, Tax Allocation Bonds, University Corridor, Series 2007C, 4.500%, 8/01/30 – NPFG Insured |
No Opt. Call | BBB+ | 2,556,925 | ||||||||||||||
| 125 |
Riverside Unified School District, Riverside County, California, Community Facilities District 24 Special Tax Bonds, Series 2006, 5.100%, 9/01/36 |
9/14 at 102.00 | N/R | 126,350 | ||||||||||||||
| 1,000 |
Riverside, California, Improvement Bond Act of 1915, Special Assessment Bonds, Hunter Park Assessment District, Series 2006, 5.200%, 9/02/36 |
9/16 at 101.00 | N/R | 1,020,840 | ||||||||||||||
|
Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 2, Series 2007: |
||||||||||||||||||
| 1,010 |
0.000%, 9/01/34 – NPFG Insured |
No Opt. Call | AA– | 328,886 | ||||||||||||||
| 1,155 |
0.000%, 9/01/35 – NPFG Insured |
No Opt. Call | AA– | 354,597 | ||||||||||||||
| 1,000 |
Roseville Finance Authority, California, Special Tax Revenue Bonds, Refunding Series 2007B, 5.000%, 9/01/33 |
9/17 at 100.00 | N/R | 1,003,280 | ||||||||||||||
| 1,700 |
Roseville, California, Special Tax Bonds, Community Facilities District 1 – Westpark, Series 2005, 5.200%, 9/01/36 |
9/15 at 100.00 | N/R | 1,706,341 | ||||||||||||||
| 1,000 |
Roseville, California, Special Tax Bonds, Community Facilities District 1 Diamond Creek, Series 2007, 5.000%, 9/01/37 |
3/13 at 103.00 | N/R | 877,650 | ||||||||||||||
| 1,800 |
Roseville, California, Special Tax Bonds, Community Facilities District 1, Fiddyment Ranch, Series 2006, 5.125%, 9/01/26 |
9/16 at 100.00 | N/R | 1,834,596 | ||||||||||||||
| 1,510 |
Sacramento City Financing Authority California, Lease Revenue Bonds, Master Lease Program Facilities Projects, Tender Option Bond Trust 4698, 18.859%, 12/01/33 – AMBAC Insured (IF) (5) |
No Opt. Call | Aa3 | 3,015,952 | ||||||||||||||
| 1,490 |
Sacramento, California, Community Facilities District 05-1, College Square Special Tax Bonds, Series 2007, 5.900%, 9/01/37 |
9/17 at 100.00 | N/R | 1,511,992 | ||||||||||||||
| 445 |
Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Grace Lofts Redevelopment Projects, Series 2007A, 6.000%, 3/27/26 |
6/13 at 100.00 | N/R | 416,662 | ||||||||||||||
| 500 |
San Bernardino County Financing Authority, California, Revenue Bonds, Courthouse Facilities Project, Series 2007, 5.500%, 6/01/37 – NPFG Insured |
No Opt. Call | BBB | 529,970 | ||||||||||||||
| 100 |
San Jacinto Unified School District, Riverside County, California, Community Facilities District 2006-1 Special Tax Bonds, Infrastructure Projects, Series 2006, 5.200%, 9/01/36 |
9/16 at 100.00 | N/R | 101,043 | ||||||||||||||
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C: |
||||||||||||||||||
| 500 |
5.000%, 8/01/24 – NPFG Insured |
8/17 at 100.00 | BBB | 512,510 | ||||||||||||||
| 270 |
5.000%, 8/01/26 – NPFG Insured |
8/17 at 100.00 | BBB | 278,019 | ||||||||||||||
| 1,000 |
3.750%, 8/01/28 – NPFG Insured |
8/17 at 100.00 | BBB | 935,550 | ||||||||||||||
| 2,120 |
3.750%, 8/01/28 – BHAC Insured |
8/17 at 100.00 | AA+ | 2,122,629 | ||||||||||||||
| 2,000 |
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2007B, 4.250%, 8/01/36 – SYNCORA GTY Insured |
8/17 at 100.00 | BBB | 1,870,820 | ||||||||||||||
| 360 |
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005A, 5.000%, 8/01/20 – NPFG Insured |
8/15 at 100.00 | BBB | 372,514 | ||||||||||||||
| Nuveen Investments | 25 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 1,470 |
San Marcos Public Facilities Authority, California, Revenue Refunding Bonds, Series 2012C, 5.000%, 9/01/35 – AGM Insured |
9/22 at 100.00 | N/R | $ | 1,506,397 | ||||||||||||
| 1,000 |
San Marcos Public Facilities Authority, California, Tax Allocation Bonds, Project Areas 1 and 3, Series 2005A, 5.000%, 8/01/34 – AMBAC Insured |
8/15 at 102.00 | A | 1,046,790 | ||||||||||||||
| 1,865 |
San Marcos Public Facilities Authority, California, Tax Allocation Bonds, Project Areas 1, 2 and 3, Series 2003A, 5.000%, 8/01/33 – FGIC Insured |
No Opt. Call | A– | 1,887,529 | ||||||||||||||
| 500 |
Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A, 6.250%, 7/01/24 – NPFG Insured |
No Opt. Call | BBB | 596,090 | ||||||||||||||
| 1,000 |
Santa Cruz County Redevelopment Agency, California, Tax Allocation Bonds, Live Oak-Sequel Community Development Project, Series 2005A, 5.000%, 9/01/32 – NPFG Insured |
9/15 at 100.00 | A | 1,036,990 | ||||||||||||||
| 1,000 |
Santa Rosa, California, Certificates of Participation, Builiding Acquisition Project, Series 2007, 4.750%, 7/01/37 – AMBAC Insured |
No Opt. Call | Aa3 | 1,086,540 | ||||||||||||||
| 1,000 |
South Gate, California, Certificates of Participation, Series 2002A, 5.000%, 9/01/24 – AMBAC Insured |
3/13 at 102.00 | BB+ | 1,008,770 | ||||||||||||||
|
Stockton Public Financing Authority, California, Lease Revenue Bonds, Series 2004: |
||||||||||||||||||
| 305 |
5.125%, 9/01/30 – FGIC Insured |
9/14 at 100.00 | BBB | 279,493 | ||||||||||||||
| 235 |
5.250%, 9/01/34 – FGIC Insured |
9/14 at 100.00 | BBB | 216,665 | ||||||||||||||
| 2,500 |
Stockton, California, Special Tax Bonds, Arch Road Community Facilities District 99-02, Refunding Series 2007, 5.875%, 9/01/37 |
9/17 at 102.00 | N/R | 2,577,175 | ||||||||||||||
| 570 |
Sulphur Springs Union School District, California, Special Tax Bonds, Community Facilities District 2002-1, Refunding Series 2012A, 5.000%, 9/01/33 |
9/22 at 100.00 | BBB+ | 630,910 | ||||||||||||||
|
Tejon Ranch Public Facilities Financing Authority, California, Special Tax Bonds, Community Facilities District 2000-1, Tejon Industrial Complex Public Improvements, Refunding Series 2012: |
||||||||||||||||||
| 1,635 |
5.500%, 9/01/30 |
9/22 at 100.00 | N/R | 1,787,104 | ||||||||||||||
| 500 |
5.500%, 9/01/33 |
9/22 at 100.00 | N/R | 539,905 | ||||||||||||||
| 500 |
Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 03-01 Crowne Hill, Series 2012, 5.000%, 9/01/33 |
9/22 at 100.00 | BBB+ | 535,635 | ||||||||||||||
| 1,000 |
Temecula Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project 1, Series 2002, 5.250%, 8/01/36 – NPFG Insured |
2/13 at 100.00 | A– | 1,001,060 | ||||||||||||||
| 1,000 |
Tulare Public Financing Authority, California, Lease Revenue Bonds, Series 2008, 5.375%, 4/01/35 |
No Opt. Call | AA– | 1,173,020 | ||||||||||||||
| 530 |
Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 7.250%, 9/01/29 |
3/21 at 100.00 | BBB+ | 617,572 | ||||||||||||||
| 1,470 |
Tustin Community Redevelopment Agency, California, MCAS Project Area Tax Allocation Bonds, Series 2010, 5.000%, 9/01/35 |
9/18 at 102.00 | A | 1,592,333 | ||||||||||||||
| 650 |
Twentynine Palms Redevelopment Agency, California, Tax Allocation Bonds, Four Corners Project Area, Series 2011A, 7.650%, 9/01/42 |
9/21 at 100.00 | BBB+ | 783,640 | ||||||||||||||
| 500 |
Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 6.875%, 12/01/33 |
12/21 at 100.00 | A | 628,695 | ||||||||||||||
| 500 |
Val Verde Unified School District Financing Authority, California, Special Tax Revenue, Junior Lien Refunding Series 2003, 6.250%, 10/01/28 |
10/13 at 102.00 | N/R | 515,570 | ||||||||||||||
| 500 |
Victor Elementary School District, Los Angeles County, California, Community Facilities District 2005-1 Special Tax Bonds, Series 2007A, 5.500%, 9/01/37 |
9/15 at 102.00 | N/R | 503,900 | ||||||||||||||
| 600 |
West Hollywood Community Development Commission, California, East Side Redevelopment Project Series 2011 Tax Allocation Bonds Series 2011A, 7.500%, 9/01/42 |
9/21 at 100.00 | BBB | 706,614 | ||||||||||||||
| 26 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 590 |
West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 01-1, Refunding Series 2009B, 10.000%, 9/01/32 |
9/14 at 105.00 | N/R | $ | 648,487 | ||||||||||||
| 965 |
West Sacramento Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 1999F, 6.100%, 9/01/29 |
3/13 at 100.00 | N/R | 968,426 | ||||||||||||||
| 500 |
Westminster Redevelopment Agency, California, Tax Allocation Bonds, Commercial Redevelopment Project 1, Subordinate Lien Series 2011A, 5.875%, 11/01/41 |
11/21 at 100.00 | A | 572,960 | ||||||||||||||
|
Westside Union School District, California, Special Tax Bonds, Community Facilities District 2005-3, Series 2006: |
||||||||||||||||||
| 700 |
5.000%, 9/01/26 |
9/14 at 102.00 | N/R | 712,880 | ||||||||||||||
| 295 |
5.000%, 9/01/36 |
9/14 at 102.00 | N/R | 295,478 | ||||||||||||||
| 1,000 |
Woodland Finance Authority, California, Lease Revenue Bonds, Series 2002, 5.000%, 3/01/32 – SYNCORA GTY Insured |
3/13 at 102.00 | A1 | 1,024,320 | ||||||||||||||
| 290 |
Yorkville United City Business District, Illinois, Storm Water and Water Improvement Project Revenue Bonds, Series 2007, 6.000%, 1/01/27 |
1/17 at 102.00 | N/R | 203,568 | ||||||||||||||
| 135 |
Yuba County, California, Special Tax Bonds, Community Facilities District 2004-1, Edgewater, Series 2005, 5.125%, 9/01/35 |
3/15 at 100.00 | N/R | 124,675 | ||||||||||||||
| 146,745 |
Total Tax Obligation/Limited |
143,414,572 | ||||||||||||||||
|
Transportation – 5.9% |
||||||||||||||||||
| 1,125 |
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Tender Option Bond Trust 2985, 17.444%, 4/01/17 (IF) |
No Opt. Call | AA | 1,929,150 | ||||||||||||||
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999: |
||||||||||||||||||
| 8,275 |
0.000%, 1/15/30 |
2/13 at 36.46 | BBB– | 2,983,302 | ||||||||||||||
| 1,315 |
0.000%, 1/15/32 – NPFG Insured |
2/13 at 32.24 | BBB | 419,183 | ||||||||||||||
| 1,915 |
0.000%, 1/15/34 – NPFG Insured |
2/13 at 28.55 | BBB | 540,470 | ||||||||||||||
| 200 |
5.750%, 1/15/40 – NPFG Insured |
1/13 at 100.00 | BBB | 200,144 | ||||||||||||||
| 1,125 |
Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Tender Option Bond Trust 10-27B, 18.520%, 5/15/40 (IF) (5) |
5/20 at 100.00 | AA | 1,828,125 | ||||||||||||||
|
Palm Springs Financing Authority, California, Palm Springs International Airport Revenue Bonds, Series 2006: |
||||||||||||||||||
| 35 |
5.450%, 7/01/20 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | 35,315 | ||||||||||||||
| 45 |
5.550%, 7/01/28 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | 45,085 | ||||||||||||||
|
Palm Springs, California, Airport Passenger Facility Charge Subordinate Refunding Revenue Bonds, Palm Springs International Airport, Series 2008: |
||||||||||||||||||
| 250 |
6.400%, 7/01/23 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | 255,263 | ||||||||||||||
| 515 |
6.500%, 7/01/27 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | 524,157 | ||||||||||||||
| 140 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Revenue Bonds, American Airlines Inc., Series 1985A, 6.450%, 12/01/25 (4) |
2/13 at 100.00 | N/R | 80,375 | ||||||||||||||
| 535 |
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series 1993A, 6.300%, 6/01/23 (Alternative Minimum Tax) (4) |
2/13 at 100.00 | N/R | 413,116 | ||||||||||||||
| 2,320 |
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series 1996A, 6.250%, 6/01/26 (Alternative Minimum Tax) (4) |
2/13 at 100.00 | N/R | 1,792,293 | ||||||||||||||
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A: |
||||||||||||||||||
| 2,000 |
0.000%, 1/15/25 – NPFG Insured |
No Opt. Call | BBB | 1,108,080 | ||||||||||||||
| 6,550 |
0.000%, 1/15/26 – NPFG Insured |
No Opt. Call | BBB | 3,447,657 | ||||||||||||||
| 240 |
5.250%, 1/15/30 – NPFG Insured |
1/13 at 100.00 | BBB | 240,278 | ||||||||||||||
| 1,000 |
0.000%, 1/15/36 – NPFG Insured |
No Opt. Call | BBB | 292,310 | ||||||||||||||
| 27,585 |
Total Transportation |
16,134,303 | ||||||||||||||||
| Nuveen Investments | 27 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
U.S. Guaranteed – 0.1% (6) |
||||||||||||||||||
| $ | 100 |
California Statewide Community Development Authority, Revenue Bonds, Viewpoint School, Series 2004, 5.000%, 10/01/28 (Pre-refunded 10/01/14) – ACA Insured |
10/14 at 100.00 | BBB (6) | $ | 108,329 | ||||||||||||
| 10 |
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.250%, 6/01/33 (Pre-refunded 6/01/13) |
6/13 at 100.00 | Aaa | 10,290 | ||||||||||||||
| 100 |
Sierra Kings Health Care District, Fresno County, California, Revenue Bonds, Series 2006A, 5.750%, 12/01/36 (Pre-refunded 12/01/16) |
12/16 at 100.00 | N/R (6) | 118,861 | ||||||||||||||
| 210 |
Total U.S. Guaranteed |
237,480 | ||||||||||||||||
|
Utilities – 4.7% |
||||||||||||||||||
|
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A: |
||||||||||||||||||
| 25 |
5.500%, 11/15/30 |
No Opt. Call | A | 30,606 | ||||||||||||||
| 700 |
5.000%, 11/15/35 |
No Opt. Call | A | 819,476 | ||||||||||||||
| 2,150 |
5.500%, 11/15/37 |
No Opt. Call | A | 2,686,920 | ||||||||||||||
| 7,890 |
Merced Irrigation District, California, Certificates of Participation, Water and Hydroelectric Series 2008B, 0.000%, 9/01/33 |
9/16 at 32.62 | A | 2,141,267 | ||||||||||||||
| 2,155 |
Modesto Irrigation District, California, Electric System Revenue Bonds, Refunding Series 2012A, 5.000%, 7/01/29 – AGM Insured |
No Opt. Call | AA– | 2,634,250 | ||||||||||||||
| 1,000 |
M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39 |
No Opt. Call | A | 1,436,720 | ||||||||||||||
| 1,000 |
M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.500%, 11/01/39 |
No Opt. Call | A | 1,436,720 | ||||||||||||||
| 1,000 |
Sacramento Municipal Utility District Financing Authority, California, Consumnes Power Plant Project Revenue Bonds, Series 2006, 5.125%, 7/01/29 – NPFG Insured |
7/16 at 100.00 | A3 | 1,076,830 | ||||||||||||||
| 685 |
Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A, 5.250%, 11/01/26 |
No Opt. Call | Baa1 | 814,780 | ||||||||||||||
| 16,605 |
Total Utilities |
13,077,569 | ||||||||||||||||
|
Water and Sewer – 1.9% |
||||||||||||||||||
| 500 |
Dinuba Financing Authority, California, Wastewater System Revenue Bonds, Series 2007, 5.375%, 9/01/38 |
9/17 at 100.00 | N/R | 499,610 | ||||||||||||||
| 1,000 |
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.500%, 7/01/30 |
7/20 at 100.00 | Ba2 | 1,074,930 | ||||||||||||||
| 2,000 |
Oxnard, California, Financing Authority, Wastewater Revenue Bonds, Redwood Trunk Sewer and Headworks Projects, Series 2004A, 5.250%, 6/01/34 – FGIC Insured |
6/14 at 100.00 | BBB | 2,064,900 | ||||||||||||||
| 1,500 |
Pico Rivera Water Authority, California, Water System Project, Revenue Refunding Bonds, Series 1999A, 5.500%, 5/01/29 – NPFG Insured |
No Opt. Call | BBB | 1,657,440 | ||||||||||||||
| 5,000 |
Total Water and Sewer |
5,296,880 | ||||||||||||||||
| $ | 287,357 |
Total Investments (cost $242,106,287) – 97.6% |
268,809,737 | |||||||||||||||
|
Floating Rate Obligations – (0.3)% |
(915,000) | |||||||||||||||||
|
Other Assets Less Liabilities – 2.7% (7) |
7,628,371 | |||||||||||||||||
|
Net Assets – 100% |
$ | 275,523,108 | ||||||||||||||||
Investments in Derivatives at November 30, 2012:
Forward Swaps outstanding:
| Counterparty |
Notional
Amount |
Fund
Pay/Receive Floating Rate |
Floating Rate Index |
Fixed Rate
(Annualized) |
Fixed Rate
Payment Frequency |
Effective
Date (8) |
Termination
Date |
Unrealized
Appreciation (Depreciation) (7) |
||||||||||||||||||||||||
|
Barclays Bank PLC |
$ | 4,600,000 | Receive | 3-Month USD LIBOR | 2.670% | Semi-Annually | 6/26/14 | 6/26/42 | $ | 53,166 | ||||||||||||||||||||||
| 28 | Nuveen Investments |
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 |
$ | — | $ | 268,809,737 | $ | — | $ | 268,809,737 | ||||||||
|
Derivatives: |
||||||||||||||||
|
Forward Swaps**: |
— | 53,166 | — | 53,166 | ||||||||||||
|
Total |
$ | — | $ | 268,862,903 | $ | — | $ | 268,862,903 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
| ** | Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities. For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
Derivative Instruments and Hedging Activities
The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.
| Nuveen Investments | 29 |
Portfolio of Investments (Unaudited)
Nuveen California High Yield Municipal Bond Fund (continued)
November 30, 2012
The following table presents the fair value of all derivative instruments held by the Fund as of November 30, 2012, the location of these instruments on the Statement of Assets and Liabilities, and the primary underlying risk exposure.
| Location on the Statement of Assets and Liabilities | ||||||||||||||
|
Underlying
Risk Exposure |
Derivative
Instrument |
Asset Derivatives | Liability Derivatives | |||||||||||
| Location | Value | Location | Value | |||||||||||
|
Interest Rate |
Forward
Swaps |
Unrealized appreciation on
forward swaps |
$ | 53,166 | — | $ | — | |||||||
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments (excluding investments in derivatives) was $240,446,669.
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 31,553,501 | ||
|
Depreciation |
(4,105,463 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 27,448,038 |
| (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) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
| (5) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives and/or inverse floating rate transactions. |
| (6) | 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. |
| (7) | Other Assets Less Liabilities includes the Unrealized Appreciation (Depreciation) of derivative instruments as noted within Investments in Derivatives. |
| (8) | Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each forward swap contract. |
| N/R | Not rated. |
| WI/DD | Purchased on a when-issued or delayed delivery basis. |
| (IF) | Inverse floating rate investment. |
| (UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
| USD-LIBOR | United States Dollar-London Inter-Bank Offered Rate. |
| 30 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Staples – 3.3% |
||||||||||||||||||
| $ | 3,500 |
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Alameda County Tobacco Asset Securitization Corporation, Series 2002, 5.750%, 6/01/29 |
2/13 at 100.00 | BBB+ | $ | 3,500,070 | ||||||||||||
| 400 |
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21 |
6/15 at 100.00 | BB+ | 394,108 | ||||||||||||||
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1: |
||||||||||||||||||
| 5,635 |
5.750%, 6/01/47 |
6/17 at 100.00 | BB– | 5,260,667 | ||||||||||||||
| 16,950 |
5.125%, 6/01/47 |
6/17 at 100.00 | BB– | 14,326,475 | ||||||||||||||
| 26,485 |
Total Consumer Staples |
23,481,320 | ||||||||||||||||
|
Education and Civic Organizations – 4.4% |
||||||||||||||||||
| 240 |
California Educational Facilities Authority, Revenue Bonds, Claremont Graduate University, Series 2007A, 5.000%, 3/01/20 |
3/17 at 100.00 | A3 | 270,146 | ||||||||||||||
|
California Educational Facilities Authority, Revenue Bonds, Claremont Graduate University, Series 2008A: |
||||||||||||||||||
| 865 |
5.000%, 3/01/23 |
3/18 at 100.00 | A3 | 962,866 | ||||||||||||||
| 500 |
5.125%, 3/01/28 |
3/18 at 100.00 | A3 | 544,785 | ||||||||||||||
| 430 |
California Educational Facilities Authority, Revenue Bonds, Golden Gate University, Series 2005, 5.000%, 10/01/20 |
10/15 at 100.00 | Baa3 | 451,044 | ||||||||||||||
| 1,000 |
California Educational Facilities Authority, Revenue Bonds, Pitzer College, Refunding Series 2009, 5.375%, 4/01/34 |
4/20 at 100.00 | A | 1,131,390 | ||||||||||||||
| 1,000 |
California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 2008A, 5.000%, 8/01/28 |
8/18 at 100.00 | A3 | 1,089,630 | ||||||||||||||
|
California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006: |
||||||||||||||||||
| 105 |
5.000%, 11/01/21 |
11/15 at 100.00 | A2 | 114,335 | ||||||||||||||
| 1,000 |
5.000%, 11/01/30 |
11/15 at 100.00 | A2 | 1,061,090 | ||||||||||||||
|
California Educational Facilities Authority, Revenue Bonds, Woodbury University, Series 2006: |
||||||||||||||||||
| 450 |
4.400%, 1/01/15 |
No Opt. Call | Baa3 | 458,249 | ||||||||||||||
| 470 |
4.500%, 1/01/16 |
1/15 at 100.00 | Baa3 | 480,791 | ||||||||||||||
| 2,960 |
5.000%, 1/01/36 |
1/15 at 100.00 | Baa3 | 3,004,933 | ||||||||||||||
| 750 |
California Educational Facilities Authority, Student Loan Revenue Bonds, Cal Loan Program, Series 2001A, 5.400%, 3/01/21 – NPFG Insured (Alternative Minimum Tax) |
3/13 at 100.00 | Baa2 | 751,343 | ||||||||||||||
| 400 |
California Municipal Finance Authority, Education Revenue Bonds, American Heritage Education Foundation Project, Series 2006A, 5.250%, 6/01/26 |
6/16 at 100.00 | BB– | 393,548 | ||||||||||||||
|
California Municipal Finance Authority, Educational Facilities Revenue Bonds, OCEAA Project, Series 2008A: |
||||||||||||||||||
| 1,000 |
6.750%, 10/01/28 |
10/18 at 100.00 | N/R | 1,008,250 | ||||||||||||||
| 1,500 |
7.000%, 10/01/39 |
10/18 at 100.00 | N/R | 1,514,775 | ||||||||||||||
| 855 |
California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2012A, 5.750%, 1/01/22 |
No Opt. Call | N/R | 914,859 | ||||||||||||||
| 1,500 |
California Municipal Finance Authority, Revenue Bonds, University of La Verne, Series 2010A, 6.125%, 6/01/30 |
6/20 at 100.00 | BBB+ | 1,805,565 | ||||||||||||||
|
California Municipal Finance Authority, Revenue Refunding Bonds, Biola University, Series 2008A: |
||||||||||||||||||
| 1,000 |
5.000%, 10/01/18 |
No Opt. Call | Baa1 | 1,151,950 | ||||||||||||||
| 500 |
5.625%, 10/01/23 |
4/18 at 100.00 | Baa1 | 558,240 | ||||||||||||||
| 695 |
California State Public Works Board, Lease Revenue Bonds, California State University, J. Paul Leonard & Sutro Library, Series 2009J, 5.500%, 11/01/26 |
11/19 at 100.00 | Aa3 | 843,292 | ||||||||||||||
| Nuveen Investments | 31 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 500 |
California State Public Works Board, Lease Revenue Bonds, California State University, Various University Projects, Series 2010B-1, 5.400%, 3/01/26 |
3/20 at 100.00 | Aa3 | $ | 587,820 | ||||||||||||
| 1,000 |
California State Public Works Board, Lease Revenue Bonds, University of California Department of Education Riverside Campus Project, Series 2009B, 5.750%, 4/01/23 |
4/19 at 100.00 | A2 | 1,223,430 | ||||||||||||||
| 1,250 |
California State Public Works Board, Lease Revenue Bonds, University of California Regents, Series 2009E, 5.000%, 4/01/34 |
4/19 at 100.00 | Aa2 | 1,405,125 | ||||||||||||||
| 2,500 |
California State Public Works Board, Lease Revenue Bonds, University of California, Institute Projects, Series 2005C, 5.000%, 4/01/30 – AMBAC Insured |
4/15 at 100.00 | Aa2 | 2,700,975 | ||||||||||||||
| 1,035 |
California State Public Works Board, Lease Revenue Refunding Bonds, Community College Projects, Series 2004B, 5.500%, 6/01/19 |
6/14 at 100.00 | A2 | 1,104,873 | ||||||||||||||
| 200 |
California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges Projects, Series 1999A, 4.875%, 12/01/18 |
2/13 at 100.00 | A2 | 200,566 | ||||||||||||||
| 1,000 |
California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/25 – NPFG Insured |
11/15 at 100.00 | Aa2 | 1,121,350 | ||||||||||||||
| 1,600 |
California Statewide Communitities Development Authority, School Facility Revenue Bonds, Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 |
7/21 at 100.00 | BBB | 1,837,936 | ||||||||||||||
| 2,000 |
San Diego County, California, Certificates of Participation, Burnham Institute, Series 2006, 5.000%, 9/01/34 |
9/15 at 102.00 | Baa2 | 2,076,020 | ||||||||||||||
| 28,305 |
Total Education and Civic Organizations |
30,769,176 | ||||||||||||||||
|
Health Care – 15.3% |
||||||||||||||||||
| 2,000 |
Antelope Valley Healthcare District, California, Insured Revenue Refunding Bonds, Series 1997A, 5.200%, 1/01/27 – AGM Insured |
1/13 at 100.00 | AA– | 2,003,300 | ||||||||||||||
| 1,000 |
California Health Facilities Financing Authority, Refunding Revenue Bonds, Stanford Hospital and Clinics, Series 2010A, 5.000%, 11/15/25 |
11/20 at 100.00 | AA– | 1,179,870 | ||||||||||||||
| 2,000 |
California Health Facilities Financing Authority, Refunding Revenue Bonds, Stanford Hospital and Clinics, Series 2010B, 5.750%, 11/15/31 |
11/20 at 100.00 | AA– | 2,508,260 | ||||||||||||||
| 500 |
California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Series 2009C, 5.250%, 3/01/21 |
3/19 at 100.00 | A | 583,430 | ||||||||||||||
| 150 |
California Health Facilities Financing Authority, Revenue Bonds, Casa Colina Inc., Series 2001, 5.500%, 4/01/13 |
2/13 at 100.00 | BBB | 150,395 | ||||||||||||||
| 1,000 |
California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2008G, 5.500%, 7/01/25 |
7/18 at 100.00 | A | 1,158,870 | ||||||||||||||
| 3,000 |
California Health Facilities Financing Authority, Revenue Bonds, Catholic Healthcare West, Series 2009F, 5.625%, 7/01/25 |
7/19 at 100.00 | A | 3,547,980 | ||||||||||||||
| 1,000 |
California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital of Orange County, Series 2009A, 6.500%, 11/01/38 |
11/19 at 100.00 | A | 1,240,840 | ||||||||||||||
| 1,760 |
California Health Facilities Financing Authority, Revenue Bonds, Marshall Medical Center, Series 2004A, 4.750%, 11/01/19 |
11/14 at 100.00 | A– | 1,844,586 | ||||||||||||||
| 6,000 |
California Health Facilities Financing Authority, Revenue Bonds, Rady Children’s Hospital – San Diego, Series 2011, 5.000%, 8/15/31 |
8/21 at 100.00 | A+ | 6,720,480 | ||||||||||||||
| 200 |
California Health Facilities Financing Authority, Revenue Bonds, Scripps Health, Refunding Series 2008A, 5.000%, 10/01/22 |
10/18 at 100.00 | AA– | 233,586 | ||||||||||||||
| 250 |
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2008A, 5.000%, 8/15/38 |
8/18 at 100.00 | AA– | 291,158 | ||||||||||||||
| 2,000 |
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2011B, 6.000%, 8/15/42 |
8/20 at 100.00 | AA– | 2,452,540 | ||||||||||||||
| 2,000 |
California Municipal Finance Authority, Certificates of Participation, Community Hospitals of Central California Obligated Group, Series 2009, 5.500%, 2/01/39 |
2/19 at 100.00 | BBB | 2,190,500 | ||||||||||||||
| 32 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
| $ | 2,000 |
California Statewide Communities Development Authority, Health Facility Revenue Bonds, Community Hospital of the Monterey Peninsula, Series 2011A, 6.000%, 6/01/33 |
6/21 at 100.00 | AA– | $ | 2,507,940 | ||||||||||||
|
California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System West, Series 2005A: |
||||||||||||||||||
| 300 |
5.000%, 3/01/30 |
3/15 at 100.00 | A | 322,440 | ||||||||||||||
| 440 |
5.000%, 3/01/35 |
3/15 at 100.00 | A | 471,086 | ||||||||||||||
| 2,880 |
California Statewide Communities Development Authority, Revenue Bonds, Cottage Health System Obligated Group, Series 2010, 5.000%, 11/01/40 |
11/20 at 100.00 | AA– | 3,256,186 | ||||||||||||||
| 2,610 |
California Statewide Communities Development Authority, Revenue Bonds, Kaiser Permanente, Series 2012A, 5.000%, 4/01/42 |
4/22 at 100.00 | A+ | 3,040,285 | ||||||||||||||
| 5,500 |
California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health System, Series 2007A, 5.125%, 7/15/31 |
7/17 at 100.00 | N/R | 5,741,670 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Health Facility Revenue Bonds, Catholic Healthcare West, Series 2008C, 5.625%, 7/01/35 |
7/18 at 100.00 | A | 1,153,220 | ||||||||||||||
|
California Statewide Community Development Authority, Health Revenue Bonds, Enloe Medical Center, Refunding Series 2008A: |
||||||||||||||||||
| 125 |
5.250%, 8/15/19 |
8/18 at 100.00 | A– | 145,656 | ||||||||||||||
| 500 |
5.500%, 8/15/23 |
8/18 at 100.00 | A– | 566,285 | ||||||||||||||
| 500 |
California Statewide Community Development Authority, Hospital Revenue Bonds, Redlands Community Hospital, Series 2005A, 5.000%, 4/01/15 – RAAI Insured |
No Opt. Call | BBB | 530,460 | ||||||||||||||
|
California Statewide Community Development Authority, Insured Health Facility Revenue Bonds, Henry Mayo Newhall Memorial Hospital, Series 2007A: |
||||||||||||||||||
| 500 |
5.000%, 10/01/20 |
10/17 at 100.00 | A– | 563,390 | ||||||||||||||
| 400 |
5.000%, 10/01/27 |
10/17 at 100.00 | A– | 435,656 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los Angeles, Series 2007, 5.000%, 8/15/39 – NPFG Insured |
8/17 at 100.00 | BBB | 1,052,330 | ||||||||||||||
|
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A: |
||||||||||||||||||
| 2,150 |
5.250%, 7/01/30 |
7/15 at 100.00 | BBB | 2,235,979 | ||||||||||||||
| 1,760 |
5.250%, 7/01/35 |
7/15 at 100.00 | BBB | 1,823,325 | ||||||||||||||
|
California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G: |
||||||||||||||||||
| 400 |
5.250%, 7/01/13 |
No Opt. Call | BBB | 409,108 | ||||||||||||||
| 3,670 |
5.000%, 7/01/22 |
7/15 at 100.00 | BBB | 3,856,840 | ||||||||||||||
| 860 |
California Statewide Community Development Authority, Revenue Bonds, John Muir Health System, Series 2006A, 5.000%, 8/15/29 |
8/16 at 100.00 | A+ | 960,766 | ||||||||||||||
| 1,000 |
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System, Series 2006, 5.000%, 3/01/41 |
3/16 at 100.00 | A+ | 1,098,300 | ||||||||||||||
| 1,615 |
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2001C, 5.250%, 8/01/31 |
8/16 at 100.00 | A+ | 1,808,106 | ||||||||||||||
| 2,975 |
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2007A, 4.750%, 4/01/33 |
4/17 at 100.00 | A+ | 3,273,422 | ||||||||||||||
| 3,000 |
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Series 2007B, 0.986%, 4/01/36 |
4/17 at 100.00 | A+ | 2,242,500 | ||||||||||||||
| 2,250 |
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38 |
8/19 at 100.00 | Aa2 | 2,801,880 | ||||||||||||||
| 8,225 |
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 – FGIC Insured |
7/18 at 100.00 | AA– | 9,426,097 | ||||||||||||||
| 1,100 |
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007B, 5.500%, 7/01/27 – FGIC Insured |
7/18 at 100.00 | AA– | 1,272,579 | ||||||||||||||
| Nuveen Investments | 33 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
| $ | 500 |
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007C, 5.500%, 7/01/27 – FGIC Insured |
7/18 at 100.00 | AA– | $ | 578,445 | ||||||||||||
| 3,065 |
Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 2008A, 8.250%, 12/01/38 |
12/17 at 100.00 | BBB | 3,634,293 | ||||||||||||||
|
Marysville, California, Revenue Bonds, The Fremont-Rideout Health Group, Series 2011: |
||||||||||||||||||
| 2,015 |
5.250%, 1/01/27 |
1/21 at 100.00 | A | 2,314,167 | ||||||||||||||
| 3,700 |
5.250%, 1/01/35 |
1/21 at 100.00 | A | 4,170,529 | ||||||||||||||
| 1,335 |
Northern Inyo County Local Hospital District, Inyo County, California, Revenue Bonds, Series 2010, 6.375%, 12/01/25 |
12/20 at 100.00 | BBB– | 1,523,809 | ||||||||||||||
| 1,580 |
Oak Valley Hospital District, Stanislaus County, California, Revenue Bonds, Series 2010A, 7.000%, 11/01/35 |
11/20 at 100.00 | BB+ | 1,737,858 | ||||||||||||||
| 1,000 |
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39 |
11/19 at 100.00 | Baa3 | 1,153,330 | ||||||||||||||
| 3,625 |
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/41 |
11/20 at 100.00 | Baa3 | 3,997,686 | ||||||||||||||
| 4,500 |
Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital, Series 2007A, 5.750%, 2/01/41 – AMBAC Insured |
8/17 at 100.00 | A+ | 5,057,145 | ||||||||||||||
|
Sierra View Local Health Care District, California, Revenue Bonds, Series 2007: |
||||||||||||||||||
| 1,000 |
5.250%, 7/01/24 |
7/17 at 100.00 | A | 1,071,550 | ||||||||||||||
| 1,000 |
5.300%, 7/01/26 |
7/17 at 100.00 | A | 1,069,060 | ||||||||||||||
| 1,000 |
5.250%, 7/01/37 |
9/17 at 100.00 | A | 1,050,370 | ||||||||||||||
| 3,000 |
Upland, California, Certificates of Participation, San Antonio Community Hospital, Series 2011, 6.500%, 1/01/41 |
1/21 at 100.00 | A | 3,606,720 | ||||||||||||||
| 96,940 |
Total Health Care |
108,066,263 | ||||||||||||||||
|
Housing/Multifamily – 2.5% |
||||||||||||||||||
| 1,380 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2010A, 6.400%, 8/15/45 |
8/20 at 100.00 | BBB | 1,547,173 | ||||||||||||||
| 1,580 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012A, 5.500%, 8/15/47 |
8/22 at 100.00 | BBB | 1,700,475 | ||||||||||||||
| 1,000 |
California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects Series 2012B, 7.250%, 8/15/47 |
8/22 at 100.00 | A1 | 1,065,460 | ||||||||||||||
| 410 |
California Statewide Communities Development Authority, Student Housing Revenue Bonds, CHF-Irvine, LLC-UCI East Campus Apartments, Phase II, Series 2008, 5.500%, 5/15/26 |
5/18 at 100.00 | Baa2 | 453,850 | ||||||||||||||
| 4,180 |
California Statewide Community Development Authority, Multifamily Housing Revenue Senior Bonds, Westgate Courtyards Apartments, Series 2001X-1, 5.420%, 12/01/34 – AMBAC Insured (Alternative Minimum Tax) |
2/13 at 100.00 | N/R | 4,181,881 | ||||||||||||||
| 3,865 |
Los Angeles, California, GNMA Mortgage-Backed Securities Program Multifamily Housing Revenue Bonds, Park Plaza West Senior Apartments, Series 2001B, 5.400%, 1/20/31 (Alternative Minimum Tax) |
1/13 at 101.00 | AA+ | 3,909,216 | ||||||||||||||
| 2,055 |
San Dimas Housing Authority, California, Mobile Home Park Revenue Bonds, Charter Oak Mobile Home Estates Acquisition Project, Series 1998A, 5.700%, 7/01/28 |
1/13 at 100.00 | N/R | 2,056,952 | ||||||||||||||
| 1,750 |
San Jose, California, Multifamily Housing Senior Lien Revenue Bonds, Fallen Leaves Apartments, Series 2002J1, 4.950%, 12/01/22 – AMBAC Insured (Alternative Minimum Tax) |
2/13 at 100.00 | N/R | 1,767,535 | ||||||||||||||
| 1,000 |
Ventura County Area Housing Authority, California, Multifamily Revenue Bonds, Mira Vista Senior Apartments Project, Series 2006A, 5.150%, 12/01/31 – AMBAC Insured (Alternative Minimum Tax) |
12/16 at 100.00 | N/R | 991,630 | ||||||||||||||
| 17,220 |
Total Housing/Multifamily |
17,674,172 | ||||||||||||||||
| 34 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Housing/Single Family – 0.5% |
||||||||||||||||||
| $ | 3,000 |
California Department of Veteran Affairs, Home Purchase Revenue Bonds, Series 2007, 5.000%, 12/01/42 (Alternative Minimum Tax) |
12/16 at 100.00 | AA | $ | 3,126,300 | ||||||||||||
| 310 |
California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 – FGIC Insured (Alternative Minimum Tax) |
2/16 at 100.00 | BBB | 324,381 | ||||||||||||||
| 3,310 |
Total Housing/Single Family |
3,450,681 | ||||||||||||||||
|
Industrials – 0.2% |
||||||||||||||||||
| 500 |
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002B, 5.000%, 7/01/27 (Alternative Minimum Tax) |
7/15 at 101.00 | BBB | 538,280 | ||||||||||||||
| 500 |
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2005A-2, 5.400%, 4/01/25 (Alternative Minimum Tax) |
4/15 at 101.00 | BBB | 540,735 | ||||||||||||||
| 1,000 |
Total Industrials |
1,079,015 | ||||||||||||||||
|
Long -Term Care – 1.8% |
||||||||||||||||||
|
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Revenue Bonds, Elder Care Alliance of Union City, Series 2004: |
||||||||||||||||||
| 1,850 |
5.400%, 8/15/24 |
8/14 at 100.00 | A– | 1,908,183 | ||||||||||||||
| 2,130 |
5.600%, 8/15/34 |
8/14 at 100.00 | A– | 2,195,242 | ||||||||||||||
| 3,000 |
ABAG Finance Authority for Non-Profit Corporations, California, Health Facility Revenue Bonds, The Insitute on Aging, Series 2008A, 5.650%, 8/15/38 |
8/18 at 100.00 | A– | 3,289,140 | ||||||||||||||
| 1,000 |
California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009, 8.000%, 11/01/29 |
11/19 at 100.00 | Baa1 | 1,215,360 | ||||||||||||||
| 2,000 |
California Municipal Finance Authority, Senior Living Revenue Bonds, Pilgrim Place at Claremont, Series 2009A, 6.125%, 5/15/39 |
5/19 at 100.00 | A– | 2,294,860 | ||||||||||||||
| 560 |
California Statewide Community Development Authority, Revenue Bonds, Los Angeles Jewish Home for the Aging, Series 2008, 4.500%, 11/15/19 |
5/18 at 100.00 | A– | 621,667 | ||||||||||||||
| 1,000 |
Eden Township Healthcare District, California, Certificates of Participation, Installment Sale Agreement with Eden Hospital Health Services Corporation, Series 2010, 6.000%, 6/01/30 |
6/20 at 100.00 | BBB | 1,131,650 | ||||||||||||||
| 11,540 |
Total Long -Term Care |
12,656,102 | ||||||||||||||||
|
Tax Obligation/General – 19.3% |
||||||||||||||||||
| 1,000 |
Acalanes Union High School District, Contra Costa County, California, General Obligation Bonds, Refunding Series 2010A, 0.000%, 8/01/26 |
No Opt. Call | Aa1 | 620,240 | ||||||||||||||
| 1,000 |
Baldwin Park Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2002 Series 2006, 0.000%, 8/01/20 – AMBAC Insured |
8/16 at 83.04 | A+ | 743,030 | ||||||||||||||
|
California State, General Obligation Bonds, Various Purpose Series 2009: |
||||||||||||||||||
| 600 |
5.625%, 4/01/26 |
4/19 at 100.00 | A1 | 731,406 | ||||||||||||||
| 5,000 |
5.500%, 11/01/34 |
11/19 at 100.00 | A1 | 6,051,800 | ||||||||||||||
| 4,060 |
6.000%, 11/01/39 |
11/19 at 100.00 | A1 | 5,129,972 | ||||||||||||||
|
California State, General Obligation Bonds, Various Purpose Series 2010: |
||||||||||||||||||
| 5,000 |
5.250%, 3/01/30 |
3/20 at 100.00 | A1 | 6,101,300 | ||||||||||||||
| 10,000 |
5.500%, 3/01/40 |
3/20 at 100.00 | A1 | 12,077,798 | ||||||||||||||
| 4,000 |
5.250%, 11/01/40 |
11/20 at 100.00 | A1 | 4,796,920 | ||||||||||||||
|
California State, General Obligation Bonds, Various Purpose Series 2011: |
||||||||||||||||||
| 11,515 |
5.250%, 9/01/25 |
9/21 at 100.00 | A1 | 14,268,004 | ||||||||||||||
| 2,500 |
5.250%, 10/01/27 |
10/21 at 100.00 | A1 | 3,063,050 | ||||||||||||||
| 4,000 |
5.250%, 10/01/32 |
10/21 at 100.00 | A1 | 4,858,280 | ||||||||||||||
| 1,480 |
5.000%, 9/01/41 |
9/21 at 100.00 | A1 | 1,711,857 | ||||||||||||||
|
California State, General Obligation Bonds, Various Purpose Series 2012: |
||||||||||||||||||
| 4,500 |
5.250%, 2/01/28 |
2/22 at 100.00 | A1 | 5,543,550 | ||||||||||||||
| 2,000 |
5.250%, 4/01/35 |
4/22 at 100.00 | A1 | 2,410,060 | ||||||||||||||
| Nuveen Investments | 35 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
| $ | 855 |
Central Unified School District, Fresno County, California, General Obligation Bonds, Election 2008 Series 2009A, 5.625%, 8/01/33 – AGC Insured |
8/19 at 100.00 | AA– | $ | 1,006,386 | ||||||||||||
| 6,900 |
Central Unified School District, Fresno County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/31 – AGM Insured |
8/16 at 100.00 | AA– | 7,456,899 | ||||||||||||||
| 1,000 |
College of the Sequoias Visalia Area Improvement District 2, Tulare County, California, General Obligation Bonds, Sequoias Community College District, Election 2008 Series 2009A, 5.250%, 8/01/29 – AGC Insured |
8/19 at 100.00 | AA– | 1,158,280 | ||||||||||||||
| 500 |
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Capital Appreciation, Election 2006 Refunding Series 2009C, 0.000%, 8/01/39 – AGM Insured |
8/27 at 100.00 | Aa2 | 530,255 | ||||||||||||||
| 500 |
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2006 Series 2009B, 5.375%, 2/01/34 – AGC Insured |
8/18 at 100.00 | Aa2 | 570,560 | ||||||||||||||
| 1,705 |
Cupertino Union School District, Santa Clara County, California, General Obligation Bonds, Series 2010D, 0.000%, 8/01/30 |
8/20 at 52.75 | Aa1 | 678,147 | ||||||||||||||
| 350 |
Desert Sands Unified School District, Riverside County, California, General Obligation Bonds, Election 2001, Series 2008, 5.250%, 8/01/23 |
8/18 at 100.00 | Aa2 | 418,296 | ||||||||||||||
| 1,185 |
Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 2, Series 2004B, 5.000%, 10/01/27 – AGM Insured |
10/14 at 100.00 | AA– | 1,269,728 | ||||||||||||||
|
Golden West Schools Financing Authority, California, General Obligation Revenue Refunding Bonds, School District Program, Series 1999A: |
||||||||||||||||||
| 670 |
5.700%, 2/01/13 – NPFG Insured |
No Opt. Call | BBB | 674,992 | ||||||||||||||
| 770 |
5.750%, 2/01/14 – NPFG Insured |
No Opt. Call | BBB | 808,069 | ||||||||||||||
| 320 |
5.800%, 8/01/22 – NPFG Insured |
No Opt. Call | BBB | 404,848 | ||||||||||||||
| 345 |
5.800%, 8/01/23 – NPFG Insured |
No Opt. Call | BBB | 440,755 | ||||||||||||||
| 950 |
Grossmont Union High School District, San Diego County, California, General Obligation Bonds, Series 2009A, 5.500%, 8/01/31 |
8/19 at 100.00 | Aa2 | 1,130,795 | ||||||||||||||
| 600 |
Hemet Unified School District, Riverside County, California, General Obligation Bonds, Series 2008B, 5.000%, 8/01/30 – AGC Insured |
8/16 at 102.00 | AA– | 677,196 | ||||||||||||||
|
Jefferson Union High School District, San Mateo County, California, General Obligation Bonds, Series 2000A: |
||||||||||||||||||
| 300 |
6.250%, 2/01/14 – NPFG Insured |
No Opt. Call | A+ | 315,672 | ||||||||||||||
| 460 |
6.250%, 8/01/20 – NPFG Insured |
No Opt. Call | A+ | 582,148 | ||||||||||||||
| 1,460 |
Jurupa Unified School District, Riverside County, California, General Obligation Bonds, Series 2004, 5.000%, 8/01/24 – FGIC Insured |
8/13 at 100.00 | AA– | 1,500,880 | ||||||||||||||
| 500 |
Long Beach Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2009A, 5.500%, 8/01/29 |
8/19 at 100.00 | Aa2 | 604,060 | ||||||||||||||
| 100 |
Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2009D, 5.000%, 1/01/34 |
7/19 at 100.00 | Aa2 | 116,825 | ||||||||||||||
| 100 |
Lucia Mar Unified School District, San Luis Obispo County, California, General Obligation Bonds, Refunding Series 2005, 5.250%, 8/01/22 – FGIC Insured |
No Opt. Call | Aa2 | 133,390 | ||||||||||||||
| 2,405 |
Oak Valley Hospital District, Stanislaus County, California, General Obligation Bonds, Series 2005, 5.000%, 7/01/31 – FGIC Insured |
7/14 at 101.00 | A1 | 2,516,953 | ||||||||||||||
| 1,155 |
Pittsburg Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2009B, 5.500%, 8/01/34 – AGM Insured |
8/18 at 100.00 | AA– | 1,340,043 | ||||||||||||||
| 855 |
Pomona Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2001A, 5.950%, 2/01/17 – NPFG Insured |
No Opt. Call | A | 990,133 | ||||||||||||||
| 5,000 |
Poway Unified School District, San Diego County, California, School Facilities Improvement District 2007-1 General Obligation Bonds, Series 2009A, 0.000%, 8/01/29 |
No Opt. Call | Aa2 | 2,569,000 | ||||||||||||||
| 36 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
| $ | 50 |
Puerto Rico Government Development Bank, Senior Note Revenue Bonds, Senior Lien, Series 2006B, 5.000%, 12/01/14 |
No Opt. Call | Baa1 | $ | 52,842 | ||||||||||||
| 1,000 |
Puerto Rico, General Obligation and Public Improvement Bonds, Series 1996, 6.500%, 7/01/15 – AGM Insured |
No Opt. Call | AA | 1,121,060 | ||||||||||||||
| 545 |
Roseville Joint Union High School District, Placer County, California, General Obligation Bonds, Series 2006B, 5.000%, 8/01/27 – FGIC Insured |
8/15 at 100.00 | AA– | 600,677 | ||||||||||||||
| 4,070 |
San Benito Health Care District, California, General Obligation Bonds, Series 2005, 5.000%, 7/01/31 – SYNCORA GTY Insured |
7/14 at 101.00 | BBB+ | 4,174,762 | ||||||||||||||
| 1,265 |
San Bernardino Community College District, California, General Obligation Bonds, Series 2008A, 6.500%, 8/01/27 |
8/18 at 100.00 | Aa2 | 1,580,567 | ||||||||||||||
| 2,000 |
San Diego Unified School District, San Diego County, California, General Obligation Bonds, Series 2009A, 0.000%, 7/01/33 |
7/24 at 100.00 | Aa2 | 1,675,780 | ||||||||||||||
| 1,000 |
Santa Ana Unified School District, Orange County, California, General Obligation Bonds, Series 2008A, 5.250%, 8/01/28 |
8/18 at 100.00 | Aa3 | 1,155,070 | ||||||||||||||
| 1,000 |
Santa Barbara Community College District, California, General Obligation Bonds, Series 2008A, 5.250%, 8/01/27 |
8/18 at 100.00 | AA+ | 1,201,560 | ||||||||||||||
| 5,000 |
Southwestern Community College District, San Diego County, California, General Obligation Bonds, Election of 2008, Series 2011C, 5.250%, 8/01/36 |
8/21 at 100.00 | Aa2 | 5,990,150 | ||||||||||||||
| 3,040 |
Sulphur Springs Union School District, Los Angeles County, California, General Obligation Bonds, Series 1991A, 0.000%, 9/01/15 – NPFG Insured |
No Opt. Call | BBB | 2,920,285 | ||||||||||||||
| 8,500 |
Tahoe Forest Hospital District, Placer and Nevada Counties, California, General Obligation Bonds, Series 2010B, 5.500%, 8/01/35 |
8/18 at 100.00 | Aa3 | 9,999,568 | ||||||||||||||
|
Tulare Local Health Care District, California, General Obligation Bonds, Series 2009B-1: |
||||||||||||||||||
| 500 |
6.375%, 8/01/25 |
8/19 at 100.00 | A1 | 613,460 | ||||||||||||||
| 1,005 |
6.500%, 8/01/26 |
8/19 at 100.00 | A1 | 1,238,622 | ||||||||||||||
| 1,530 |
Victor Valley Community College District, San Bernardino County, California, General Obligation Bonds, Election of 2008 Series 2009A, 5.000%, 8/01/31 |
8/19 at 100.00 | Aa2 | 1,726,972 | ||||||||||||||
| 2,000 |
Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/31 – AGC Insured |
8/26 at 100.00 | AA– | 1,556,940 | ||||||||||||||
| 1,100 |
West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2008B, 6.000%, 8/01/24 |
No Opt. Call | Aa3 | 1,461,493 | ||||||||||||||
| 770 |
West Covina Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2002A Refunding, 5.350%, 2/01/20 – NPFG Insured |
No Opt. Call | A+ | 921,120 | ||||||||||||||
| 1,000 |
Whittier Union High School District, Los Angeles County, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/34 |
8/19 at 38.81 | AA– | 280,940 | ||||||||||||||
| 3,500 |
Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 |
No Opt. Call | Aa2 | 1,678,145 | ||||||||||||||
| 124,515 |
Total Tax Obligation/General |
135,951,590 | ||||||||||||||||
|
Tax Obligation/Limited – 35.7% |
||||||||||||||||||
| 4,915 |
Alameda County Redevelopment Agency, California, Eden Area Redevelopment Project, Tax Allocation Bonds, Series 2006A, 5.000%, 8/01/36 – NPFG Insured |
8/16 at 100.00 | A– | 5,042,937 | ||||||||||||||
| 1,000 |
Anitoch Area Public Facilities Financing Agency, California, Special Tax Bonds, Community Facilities District 1989-1, Refunding Series 2006, 4.000%, 8/01/18 – AMBAC Insured |
8/16 at 100.00 | A1 | 1,043,140 | ||||||||||||||
|
Apple Valley Public Financing Authority, California, Lease Revenue Bonds, Town Hall Annex Project, Series 2007A: |
||||||||||||||||||
| 485 |
4.500%, 9/01/17 – AMBAC Insured |
No Opt. Call | A– | 554,321 | ||||||||||||||
| 500 |
5.000%, 9/01/27 – AMBAC Insured |
9/17 at 100.00 | A– | 554,060 | ||||||||||||||
| Nuveen Investments | 37 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 105 |
Barstow Redevelopment Agency, California, Tax Allocation Bonds, Central Redevelopment Project, Series 1994A, 7.000%, 9/01/14 – NPFG Insured |
No Opt. Call | BBB | $ | 111,710 | ||||||||||||
| 1,000 |
Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 17B, Series 2011A, 6.125%, 9/01/31 |
9/21 at 100.00 | N/R | 1,092,210 | ||||||||||||||
| 1,655 |
Bell Community Housing Authority, California, Lease Revenue Bonds, Series 2005, 5.000%, 10/01/36 – AMBAC Insured |
10/15 at 100.00 | N/R | 1,275,293 | ||||||||||||||
| 2,250 |
Brea and Olinda Unified School District, Orange County, California, Certificates of Participation Refunding, Series 2002A, 5.125%, 8/01/26 – AGM Insured |
2/13 at 100.00 | AA– | 2,258,123 | ||||||||||||||
|
Brea Public Finance Authority, California, Revenue Bonds, Series 2008A: |
||||||||||||||||||
| 2,105 |
7.000%, 9/01/23 |
9/16 at 102.00 | BBB+ | 2,323,373 | ||||||||||||||
| 2,000 |
7.125%, 9/01/26 |
9/16 at 102.00 | BBB+ | 2,202,120 | ||||||||||||||
| 1,960 |
California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Series 2004, 5.000%, 12/01/25 – AMBAC Insured |
12/13 at 100.00 | AA+ | 2,048,866 | ||||||||||||||
| 540 |
California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Coalinga State Hospital, Series 2004A, 5.500%, 6/01/16 |
6/14 at 100.00 | A2 | 579,069 | ||||||||||||||
| 2,500 |
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009G-1, 5.750%, 10/01/30 |
10/19 at 100.00 | A2 | 3,034,700 | ||||||||||||||
| 2,000 |
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34 |
11/19 at 100.00 | A2 | 2,468,840 | ||||||||||||||
| 3,000 |
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1, 6.000%, 3/01/35 |
3/20 at 100.00 | A2 | 3,635,880 | ||||||||||||||
| 685 |
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured |
9/15 at 100.00 | BBB | 712,434 | ||||||||||||||
| 225 |
Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Housing Set-Aside, Series 2002D, 5.000%, 8/01/26 – NPFG Insured |
8/14 at 100.00 | A | 229,716 | ||||||||||||||
| 740 |
Cerritos Public Financing Authority, California, Tax Allocation Revenue Bonds, Los Cerritos Redevelopment Projects, Series 2002A, 5.000%, 11/01/15 – AMBAC Insured |
No Opt. Call | A– | 799,163 | ||||||||||||||
|
Chino Public Financing Authority, California, Revenue Refunding Bonds, Series 2012: |
||||||||||||||||||
| 1,000 |
5.000%, 9/01/30 |
9/22 at 100.00 | N/R | 1,060,130 | ||||||||||||||
| 1,160 |
5.000%, 9/01/34 |
9/22 at 100.00 | N/R | 1,209,961 | ||||||||||||||
| 310 |
5.000%, 9/01/38 |
9/22 at 100.00 | N/R | 320,373 | ||||||||||||||
| 1,400 |
Chula Vista Public Financing Authority, California, Pooled Community Facility District Assessment Revenue Bonds, Series 2005A, 5.000%, 9/01/29 – NPFG Insured |
9/15 at 100.00 | BBB | 1,432,032 | ||||||||||||||
| 635 |
Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Housing Second Lien Series 2010A, 5.500%, 8/01/30 |
8/20 at 100.00 | N/R | 648,081 | ||||||||||||||
| 1,420 |
Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Projects, Second Lien Series 2010B, 5.000%, 8/01/25 |
8/20 at 100.00 | N/R | 1,425,282 | ||||||||||||||
| 1,060 |
Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36 |
12/21 at 100.00 | A+ | 1,329,007 | ||||||||||||||
| 6,265 |
Escondido Joint Powers Financing Authority, California, Lease Revenue Bonds, Water System Financing, Series 2012, 5.000%, 9/01/41 |
3/22 at 100.00 | AA– | 7,202,307 | ||||||||||||||
| 1,000 |
Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige Heights, Refunding Series 2012, 5.000%, 9/01/26 |
9/22 at 100.00 | A– | 1,145,040 | ||||||||||||||
| 1,650 |
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 4.550%, 6/01/22 – AGM Insured |
6/18 at 100.00 | AA– | 1,854,930 | ||||||||||||||
| 38 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 6,715 |
Hawthorne Community Redevelopment Agency, California, Project Area 2 Tax Allocation Bonds, Series 2006, 5.000%, 9/01/26 – SYNCORA GTY Insured |
9/16 at 100.00 | N/R | $ | 7,019,794 | ||||||||||||
| 2,075 |
Hesperia Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured |
9/15 at 100.00 | BB+ | 1,915,765 | ||||||||||||||
| 1,660 |
Highland, California, Special Tax Bonds, Communitiy Facilities District 01-1, Refunding, Series 2011, 5.500%, 9/01/28 |
9/21 at 100.00 | BBB | 1,854,602 | ||||||||||||||
|
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project, Subordinate Lien Series 2007A-1: |
||||||||||||||||||
| 430 |
5.000%, 5/01/24 – AMBAC Insured |
5/17 at 100.00 | BBB+ | 446,013 | ||||||||||||||
| 1,155 |
5.000%, 5/01/25 – AMBAC Insured |
5/17 at 100.00 | BBB+ | 1,193,288 | ||||||||||||||
| 740 |
Irvine, California, Unified School District, Community Facilities District 06-1 Special Tax Bonds, Series 2010, 6.700%, 9/01/35 |
9/20 at 100.00 | N/R | 861,811 | ||||||||||||||
|
Irvine, California, Unified School District, Community Facilities District Special Tax Bonds, Series 2006A: |
||||||||||||||||||
| 170 |
5.000%, 9/01/26 |
9/16 at 100.00 | N/R | 175,525 | ||||||||||||||
| 395 |
5.125%, 9/01/36 |
9/16 at 100.00 | N/R | 405,744 | ||||||||||||||
| 335 |
Irwindale Community Redevelopment Agency, California, Tax Allocation Bonds, City Industrial Development Project, Subordinate Lien Refunding Series 2006, 5.000%, 12/01/18 – AMBAC Insured |
No Opt. Call | BBB+ | 370,778 | ||||||||||||||
|
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 25 Eastvale Area, Series 2008A: |
||||||||||||||||||
| 1,000 |
8.375%, 9/01/28 |
9/18 at 100.00 | N/R | 1,175,270 | ||||||||||||||
| 3,205 |
8.875%, 9/01/38 |
9/18 at 100.00 | N/R | 3,769,817 | ||||||||||||||
| 1,300 |
Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area C, Series 2010A, 6.250%, 9/01/40 |
9/18 at 100.00 | N/R | 1,339,793 | ||||||||||||||
| 500 |
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas Housing Programs, Series 2009, 6.875%, 8/01/39 |
8/19 at 100.00 | BBB+ | 581,605 | ||||||||||||||
| 2,500 |
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment Project Areas, Subordinate Lien Series 2003B, 5.000%, 8/01/34 – FGIC Insured |
8/13 at 100.00 | BBB+ | 2,505,275 | ||||||||||||||
| 1,870 |
Lancaster Redevelopment Agency, California, Tax Allocation Refunding Bonds, Combined Area Sheriff’s Facilities Projects, Series 2004, 5.000%, 12/01/23 – SYNCORA GTY Insured |
12/14 at 100.00 | A | 1,994,486 | ||||||||||||||
|
Lancaster Redevelopment Agency, California, Tax Allocation Refunding Bonds, Combined Fire Protection Facilities Project, Series 2004: |
||||||||||||||||||
| 800 |
5.250%, 12/01/17 – SYNCORA GTY Insured |
12/14 at 100.00 | A | 851,232 | ||||||||||||||
| 1,120 |
5.000%, 12/01/23 – SYNCORA GTY Insured |
12/14 at 100.00 | A | 1,194,558 | ||||||||||||||
| 4,555 |
Long Beach Bond Finance Authority, California, Multiple Project Tax Allocation Bonds, Housing and Gas Utility Financing Project Areas, Series 2005A-1, 5.000%, 8/01/35 – AMBAC Insured |
8/15 at 100.00 | BBB+ | 4,642,410 | ||||||||||||||
|
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social Services Project, Series 2005: |
||||||||||||||||||
| 1,200 |
5.000%, 9/01/16 – AMBAC Insured |
9/15 at 100.00 | A1 | 1,330,716 | ||||||||||||||
| 2,460 |
5.000%, 9/01/37 – AMBAC Insured |
9/15 at 100.00 | A1 | 2,541,844 | ||||||||||||||
| 2,565 |
Los Angeles Community Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Bunker Hill Redevelopment Project, Series 2004L, 5.000%, 3/01/17 |
3/13 at 100.00 | BBB– | 2,577,902 | ||||||||||||||
| 1,000 |
Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill Project, Series 2004A, 5.000%, 12/01/20 – AGM Insured |
12/14 at 100.00 | AA– | 1,079,140 | ||||||||||||||
| 330 |
Los Angeles, California, Certificates of Participation, Department of Public Social Services, Sonnenblick Del Rio West LA, Senior Lien Series 2000, 6.000%, 11/01/19 – AMBAC Insured |
2/13 at 100.00 | A2 | 331,548 | ||||||||||||||
| Nuveen Investments | 39 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 325 |
Maywood Community Development Commission, California, Tax Allocation Bonds, Merged Maywood Redevelopement Project Area, Series 2007, 4.500%, 8/01/37 – RAAI Insured |
8/17 at 102.00 | N/R | $ | 277,482 | ||||||||||||
| 970 |
Milpitas, California, Local Improvement District 20 Limited Obligation Bonds, Series 1998A, 5.700%, 9/02/18 |
3/13 at 103.00 | N/R | 1,003,727 | ||||||||||||||
|
Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2003-1, Series 2004: |
||||||||||||||||||
| 805 |
5.550%, 9/01/29 |
9/14 at 100.00 | N/R | 824,272 | ||||||||||||||
| 1,250 |
5.650%, 9/01/34 |
9/14 at 100.00 | N/R | 1,279,450 | ||||||||||||||
| 7,100 |
Murrieta Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A, 5.000%, 8/01/37 – NPFG Insured |
8/17 at 100.00 | A– | 7,327,555 | ||||||||||||||
| 350 |
Murrieta, California, Special Tax Bonds, Community Facilities District 2000-2, The Oaks Improvement Area A, Series 2004A, 5.750%, 9/01/20 |
9/14 at 100.00 | N/R | 361,445 | ||||||||||||||
| 205 |
Murrieta, California, Special Tax Bonds, Community Facilities District 2003-3, Creekside Village Improvement Area 1, Series 2005, 5.200%, 9/01/35 |
3/13 at 100.00 | N/R | 205,340 | ||||||||||||||
|
National City Community Development Commission, California, Tax Allocation Bonds, National City Redevelopment Project, Series 2011: |
||||||||||||||||||
| 625 |
6.500%, 8/01/24 |
8/21 at 100.00 | A– | 797,344 | ||||||||||||||
| 2,705 |
7.000%, 8/01/32 |
8/21 at 100.00 | A– | 3,450,579 | ||||||||||||||
| 1,000 |
Norco Redevelopment Agency, California, Tax Allocation Refunding Bonds, Project Area 1, Refunding Series 2010, 6.000%, 3/01/36 |
3/20 at 100.00 | A | 1,147,470 | ||||||||||||||
| 300 |
Norco, California, Community Facilities District 97-1, Norco Hills, Special Tax Refunding Series 2005, 4.875%, 10/01/30 – AGC Insured |
10/15 at 100.00 | AA– | 313,800 | ||||||||||||||
| 230 |
Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40 |
9/21 at 100.00 | BBB+ | 272,939 | ||||||||||||||
| 2,070 |
Oakland Redevelopment Agency, California, Subordinate Lien Tax Allocation Bonds, Central District Redevelopment Project, Series 2003, 5.500%, 9/01/16 – FGIC Insured |
3/13 at 100.00 | A– | 2,089,355 | ||||||||||||||
| 1,000 |
Palm Desert Finance Authority, California, Tax Allocation Revenue Bonds, Project Area 4, Refunding Series 2006A, 5.000%, 10/01/29 – NPFG Insured |
10/16 at 100.00 | A– | 1,036,800 | ||||||||||||||
| 2,350 |
Palm Desert Financing Authority, California, Housing Set Aside Tax Allocation Bonds, Refunding Series 2007, 5.000%, 10/01/22 – NPFG Insured |
10/17 at 100.00 | Baa2 | 2,503,314 | ||||||||||||||
| 1,000 |
Palm Desert Financing Authority, California, Tax Allocation Revenue Bonds, Project Area 1, Series 2003, 5.000%, 4/01/30 – NPFG Insured |
No Opt. Call | BBB | 1,002,400 | ||||||||||||||
| 2,500 |
Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.500%, 4/01/35 |
4/13 at 102.00 | BB | 2,560,675 | ||||||||||||||
| 14,050 |
Paramount Redevelopment Agency, California, Tax Allocation Refunding Bonds, Redevelopment Project Area 1, Series 1998, 0.000%, 8/01/26 – NPFG Insured |
No Opt. Call | A– | 6,997,603 | ||||||||||||||
|
Perris Union High School District Financing Authority, Riverside County, California, Revenue Bonds, Series 2011: |
||||||||||||||||||
| 225 |
6.000%, 9/01/33 |
3/13 at 103.00 | N/R | 232,445 | ||||||||||||||
| 490 |
6.125%, 9/01/41 |
3/13 at 103.00 | N/R | 506,057 | ||||||||||||||
| 3,355 |
Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Refunding Series 2008A, 6.500%, 9/01/28 |
9/18 at 100.00 | BBB– | 3,709,355 | ||||||||||||||
| 1,600 |
Pomona Public Financing Authority, California, Merged Projects Revenue Bonds, Series 2007AS, 5.000%, 2/01/31 – AMBAC Insured |
2/17 at 100.00 | A | 1,673,616 | ||||||||||||||
| 750 |
Poway Redevelopment Agency, California, Tax Allocation Bonds, Paugay Redevelopment Project, Series 2003A, 5.250%, 6/15/20 – NPFG Insured |
6/13 at 100.00 | A | 765,420 | ||||||||||||||
| 2,300 |
Poway Redevelopment Agency, California, Tax Allocation Bonds, Paugay Redevelopment Project, Series 2007, 5.000%, 6/15/30 – NPFG Insured |
6/17 at 100.00 | A | 2,392,184 | ||||||||||||||
| 40 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 650 |
Poway Unified School District, San Diego County, California, Special Tax Bonds, Community Facilities District 6, Series 2005, 5.000%, 9/01/23 |
3/13 at 103.00 | BBB+ | $ | 671,704 | ||||||||||||
| 500 |
Ramona Unified School District, San Diego County, California, Certificates of Participation, Refunding Series 2007, 5.000%, 5/01/32 – NPFG Insured |
5/17 at 100.00 | A | 522,630 | ||||||||||||||
|
Rancho Cucamonga Redevelopment Agency, California, Housing Set-Aside Tax Allocation Bonds, Series 2007A: |
||||||||||||||||||
| 310 |
4.125%, 9/01/18 – NPFG Insured |
9/17 at 100.00 | A+ | 326,384 | ||||||||||||||
| 500 |
5.000%, 9/01/34 – NPFG Insured |
9/17 at 100.00 | A+ | 516,820 | ||||||||||||||
| 630 |
Rancho Cucamonga Redevelopment Agency, California, Tax Allocation Revenue Bonds, Rancho Redevelopment Project, Series 2004, 4.500%, 9/01/32 – AMBAC Insured |
9/14 at 100.00 | A+ | 634,555 | ||||||||||||||
| 1,645 |
Rancho Cucamonga, California, Limited Obligation Improvement Bonds, Masi Plaza Assessment District 93-1, Series 1997, 6.250%, 9/02/22 |
3/13 at 100.00 | N/R | 1,654,492 | ||||||||||||||
| 1,045 |
Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 2011A, 5.750%, 9/01/30 |
9/21 at 100.00 | BBB+ | 1,220,884 | ||||||||||||||
| 595 |
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured |
9/15 at 100.00 | A– | 606,983 | ||||||||||||||
| 2,345 |
Richmond Redevelopment Agency, California, Harbour Project Tax Allocation Bonds, Series 1998A Refunding, 5.500%, 7/10/18 – NPFG Insured |
2/13 at 100.00 | AA | 2,353,981 | ||||||||||||||
| 260 |
Riverside County Public Financing Authority, California, Tax Allocation Bonds, Multiple Projects, Series 2005A, 5.000%, 10/01/24 – SYNCORA GTY Insured |
10/15 at 100.00 | BBB | 265,353 | ||||||||||||||
| 2,950 |
Riverside County Redevelopment Agency, California, Interstate 215 Corridor Redevelopment Project Area Tax Allocation Bonds, Series 2010E, 6.250%, 10/01/30 |
10/20 at 100.00 | A– | 3,390,406 | ||||||||||||||
| 100 |
Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 6.500%, 10/01/25 |
10/21 at 100.00 | A– | 115,467 | ||||||||||||||
| 1,250 |
Riverside Unified School District Finance Authority, Riverside County, California, Revenue Bonds Series 2012A, 5.000%, 9/01/32 |
9/22 at 100.00 | A– | 1,409,788 | ||||||||||||||
| 740 |
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%, 8/01/25 – AMBAC Insured |
8/13 at 100.00 | AA– | 756,532 | ||||||||||||||
| 3,560 |
Roseville, California, Special Tax Bonds, Community Facilities District 1 – Woodcreek West, Series 2005, 5.000%, 9/01/30 – AMBAC Insured |
9/15 at 100.00 | A– | 3,654,055 | ||||||||||||||
| 1,000 |
Roseville, California, Special Tax Bonds, Community Facilities District 1 Diamond Creek, Series 2007, 5.000%, 9/01/37 |
3/13 at 103.00 | N/R | 877,650 | ||||||||||||||
| 1,700 |
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, 5.400%, 11/01/20 – AMBAC Insured |
No Opt. Call | A1 | 1,988,133 | ||||||||||||||
| 500 |
Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993B, 5.400%, 11/01/20 |
No Opt. Call | A1 | 584,745 | ||||||||||||||
| 850 |
San Bernardino County Redevelopment Agency, California, Tax Allocation Refunding Bonds, San Sevaine Project, Series 2005A, 5.000%, 9/01/16 – RAAI Insured |
9/15 at 100.00 | BBB | 897,328 | ||||||||||||||
| 1,955 |
San Francisco City and County Redevelopment Agency, California, Hotel Occupancy Tax Revenue Bonds, Refunding Series 2011, 5.000%, 6/01/25 – AGM Insured |
6/21 at 100.00 | AA– | 2,286,979 | ||||||||||||||
| 5,180 |
San Francisco City and County, California, Certificates of Participation, Refunding Series 2010A, 5.000%, 10/01/30 |
10/20 at 100.00 | AA– | 6,050,033 | ||||||||||||||
|
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2006B: |
||||||||||||||||||
| 325 |
4.100%, 8/01/14 – RAAI Insured |
No Opt. Call | A– | 334,896 | ||||||||||||||
| 250 |
4.250%, 8/01/16 – RAAI Insured |
No Opt. Call | A– | 264,160 | ||||||||||||||
| 380 |
4.375%, 8/01/18 – RAAI Insured |
8/16 at 100.00 | A– | 397,609 | ||||||||||||||
| 1,185 |
San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41 |
2/21 at 100.00 | A– | 1,439,135 | ||||||||||||||
| Nuveen Investments | 41 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
|
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D: |
||||||||||||||||||
| $ | 80 |
7.000%, 8/01/33 |
2/21 at 100.00 | BBB | $ | 95,069 | ||||||||||||
| 105 |
7.000%, 8/01/41 |
2/21 at 100.00 | BBB | 123,163 | ||||||||||||||
| 3,500 |
San Jose Redevelopment Agency, California, Housing Set-Aside Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2010A-1, 5.500%, 8/01/35 |
8/20 at 100.00 | A | 3,655,400 | ||||||||||||||
| 2,990 |
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2003, 5.000%, 8/01/19 – FGIC Insured |
8/13 at 100.00 | BBB | 3,020,079 | ||||||||||||||
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006C: |
||||||||||||||||||
| 590 |
5.000%, 8/01/25 – NPFG Insured |
8/17 at 100.00 | BBB | 606,514 | ||||||||||||||
| 1,560 |
5.000%, 8/01/26 – NPFG Insured |
8/17 at 100.00 | BBB | 1,606,332 | ||||||||||||||
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2006D: |
||||||||||||||||||
| 1,900 |
5.000%, 8/01/18 – AMBAC Insured |
8/17 at 100.00 | BBB | 1,971,079 | ||||||||||||||
| 645 |
5.000%, 8/01/19 – AMBAC Insured |
8/17 at 100.00 | BBB | 661,138 | ||||||||||||||
| 540 |
5.000%, 8/01/21 – AMBAC Insured |
8/17 at 100.00 | BBB | 553,511 | ||||||||||||||
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Series 2008B: |
||||||||||||||||||
| 1,025 |
6.375%, 8/01/21 |
8/18 at 100.00 | BBB | 1,127,685 | ||||||||||||||
| 480 |
6.500%, 8/01/23 |
8/18 at 100.00 | BBB | 528,792 | ||||||||||||||
| 350 |
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2005A, 5.000%, 8/01/20 – NPFG Insured |
8/15 at 100.00 | BBB | 362,166 | ||||||||||||||
| 1,000 |
San Marcos Public Facilities Authority, California, Tax Allocation Bonds, Project Areas 1, 2 and 3, Series 2003A, 5.000%, 8/01/33 – FGIC Insured |
8/13 at 100.00 | A– | 1,012,080 | ||||||||||||||
| 6,000 |
San Marcos Redevelopment Agency, California, Tax Allocation Bonds, Affordable Housing Project, Series 1997A, 6.000%, 10/01/27 (Alternative Minimum Tax) |
2/13 at 100.00 | AA– | 6,013,680 | ||||||||||||||
| 315 |
Sand City Redevelopment Agency, Monterrey County, California, Tax Allocation Revenue Bonds, Redevelopment Project, Series 2008A, 4.000%, 11/01/19 – AGC Insured |
11/18 at 100.00 | Aa3 | 335,607 | ||||||||||||||
| 2,140 |
Santa Ana Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series 2011A, 6.750%, 9/01/28 |
3/21 at 100.00 | A+ | 2,687,048 | ||||||||||||||
| 3,500 |
Santa Clara Redevelopment Agency, California, Tax Allocation Bonds, Bayshore North Project, Series 1999A, 5.500%, 6/01/23 – AMBAC Insured |
6/13 at 100.00 | A | 3,580,710 | ||||||||||||||
| 6,345 |
Santa Clara Valley Transportation Authority, California, Sales Tax Revenue Bonds, Series 2007A, 5.000%, 4/01/36 – AMBAC Insured |
4/17 at 100.00 | AA+ | 7,254,556 | ||||||||||||||
|
Santa Cruz County Redevelopment Agency, California, Tax Allocation Bonds, Live Oak-Soquel Community Improvement Project Area, Series 2009A: |
||||||||||||||||||
| 1,860 |
6.625%, 9/01/29 |
9/19 at 100.00 | A | 2,238,380 | ||||||||||||||
| 2,805 |
7.000%, 9/01/36 |
9/19 at 100.00 | A | 3,393,517 | ||||||||||||||
| 1,500 |
Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 6.500%, 8/01/26 |
2/21 at 100.00 | A | 1,873,125 | ||||||||||||||
| 2,815 |
Shafter Joint Powers Financing Authority, California, Lease Revenue Bonds, Community Correctional Facility Acquisition Project, Series 1997A, 6.050%, 1/01/17 |
1/13 at 100.00 | A3 | 2,824,205 | ||||||||||||||
| 180 |
Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26 |
4/21 at 100.00 | N/R | 202,712 | ||||||||||||||
| 205 |
Soledad Redevelopment Agency, California, Tax Allocation Bonds, Soledad Redevelopment Project, Series 2007A, 4.500%, 12/01/16 – SYNCORA GTY Insured |
No Opt. Call | BB+ | 195,670 | ||||||||||||||
| 42 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
|
South Tahoe Redevelopment Agency, California, Community Facilities District 2001-1 , Heavenly Village, Special Tax Refunding Bonds, Series 2007: |
||||||||||||||||||
| $ | 120 |
4.400%, 10/01/15 |
No Opt. Call | N/R | $ | 127,715 | ||||||||||||
| 125 |
4.500%, 10/01/16 |
10/15 at 102.00 | N/R | 134,920 | ||||||||||||||
| 280 |
4.600%, 10/01/18 |
10/15 at 102.00 | N/R | 298,290 | ||||||||||||||
| 1,300 |
Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 03-01 Crowne Hill, Series 2012, 5.000%, 9/01/30 |
9/22 at 100.00 | BBB+ | 1,406,782 | ||||||||||||||
| 500 |
Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation Housing Bonds Series 2011A, 6.750%, 8/01/31 |
8/21 at 100.00 | A | 624,185 | ||||||||||||||
| 1,000 |
Temecula Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project 1, Series 2002, 5.250%, 8/01/36 – NPFG Insured |
2/13 at 100.00 | A– | 1,001,060 | ||||||||||||||
|
Travis Unified School District, Solano County, California, Certificates of Participation, Series 2006: |
||||||||||||||||||
| 300 |
4.500%, 9/01/16 – FGIC Insured |
No Opt. Call | N/R | 323,814 | ||||||||||||||
| 6,700 |
5.000%, 9/01/31 – FGIC Insured |
9/16 at 100.00 | N/R | 6,841,839 | ||||||||||||||
| 2,500 |
Tulare Public Financing Authority, California, Lease Revenue Bonds, Series 2008, 5.250%, 4/01/27 – AGC Insured |
4/18 at 100.00 | AA- | 2,964,175 | ||||||||||||||
| 1,225 |
Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 7.000%, 9/01/25 |
3/21 at 100.00 | BBB+ | 1,427,627 | ||||||||||||||
| 2,000 |
Tustin, California, Community Facilities District 2007-1, Legacy-Retail Center Special Tax Bonds, 6.000%, 9/01/37 |
9/17 at 100.00 | N/R | 2,112,040 | ||||||||||||||
| 1,045 |
Ukiah Redevelopment Agency, California, Tax Allocation Bonds, Ukiah Redevelopment Project, Series 2011A, 6.500%, 12/01/28 |
6/21 at 100.00 | A | 1,235,869 | ||||||||||||||
| 240 |
Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 6.375%, 12/01/23 |
12/21 at 100.00 | A | 305,513 | ||||||||||||||
|
Upland, California, Special Tax Bonds, Community Facilities District 2003-2 Improvement Area 1 The Colonies at San Antonio, Series 2012: |
||||||||||||||||||
| 350 |
5.000%, 9/01/31 |
9/22 at 100.00 | BBB | 372,484 | ||||||||||||||
| 1,000 |
5.000%, 9/01/34 |
9/22 at 100.00 | BBB | 1,051,150 | ||||||||||||||
| 25 |
Vernon Redevelopment Agency, California, Tax Allocation Bonds, Industrial Redevelopment Project, Series 2005, 5.000%, 9/01/35 – NPFG Insured |
9/15 at 100.00 | BBB | 25,383 | ||||||||||||||
|
Vista Community Development Commission, California, Taxable Non-Housing Tax Allocation Revenue Bonds, Vista Redevlopment Project, Series 2011: |
||||||||||||||||||
| 7,600 |
6.000%, 9/01/33 |
9/21 at 100.00 | A– | 9,011,852 | ||||||||||||||
| 7,920 |
6.125%, 9/01/37 |
9/21 at 100.00 | A– | 9,360,569 | ||||||||||||||
| 400 |
West Sacramento Financing Authority, California, Special Tax Revenue Bonds, Series 2006A, 5.000%, 9/01/34 – SYNCORA GTY Insured |
No Opt. Call | BBB+ | 434,532 | ||||||||||||||
| 320 |
Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32 |
9/21 at 100.00 | A– | 391,952 | ||||||||||||||
| 1,965 |
Yuba City Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A, 6.000%, 9/01/31 |
9/14 at 100.00 | N/R | 2,003,357 | ||||||||||||||
| 238,950 |
Total Tax Obligation/Limited |
251,080,669 | ||||||||||||||||
|
Transportation – 3.0% |
||||||||||||||||||
| 1,000 |
Alameda Corridor Transportation Authority, California, Subordinate Lien Revenue Bonds, Series 2004A, 0.000%, 10/01/14 – AMBAC Insured |
No Opt. Call | BBB+ | 960,010 | ||||||||||||||
| 6,500 |
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 5.000%, 1/01/35 – NPFG Insured |
1/13 at 100.00 | BBB | 6,500,520 | ||||||||||||||
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding Bonds, Series 1999: |
||||||||||||||||||
| 2,750 |
5.875%, 1/15/28 |
1/14 at 101.00 | BBB– | 2,848,230 | ||||||||||||||
| 3,255 |
5.750%, 1/15/40 – NPFG Insured |
1/13 at 100.00 | BBB | 3,257,344 | ||||||||||||||
| Nuveen Investments | 43 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Transportation (continued) |
||||||||||||||||||
|
Palm Springs Financing Authority, California, Palm Springs International Airport Revenue Bonds, Series 2006: |
||||||||||||||||||
| $ | 285 |
5.450%, 7/01/20 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | $ | 287,568 | ||||||||||||
| 215 |
5.550%, 7/01/28 (Alternative Minimum Tax) |
7/14 at 102.00 | N/R | 215,404 | ||||||||||||||
| 4,000 |
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2002, Issue 32G, 5.000%, 5/01/24 – FGIC Insured |
5/16 at 100.00 | A+ | 4,490,520 | ||||||||||||||
| 1,290 |
San Francisco Airports Commission, California, Special Facilities Lease Revenue Bonds, San Francisco International Airport, SFO Fuel Company LLC, Series 1997A, 5.250%, 1/01/22 – AMBAC Insured (Alternative Minimum Tax) |
1/13 at 100.00 | A3 | 1,292,425 | ||||||||||||||
| 1,320 |
San Francisco Airports Commission, California, Special Facilities Lease Revenue Bonds, San Francisco International Airport, SFO Fuel Company LLC, Series 2000A, 6.100%, 1/01/20 – AGM Insured (Alternative Minimum Tax) |
1/13 at 100.00 | AA– | 1,324,620 | ||||||||||||||
| 20,615 |
Total Transportation |
21,176,641 | ||||||||||||||||
|
U.S. Guaranteed – 3.0% (4) |
||||||||||||||||||
| 1,015 |
ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The Jackson Laboratory, Series 2007, 5.750%, 7/01/37 (Pre-refunded 7/01/15) |
7/15 at 102.00 | A1 (4) | 1,172,792 | ||||||||||||||
| 210 |
Barstow Redevelopment Agency, California, Tax Allocation Bonds, Central Redevelopment Project, Series 1994A, 7.000%, 9/01/14 – NPFG Insured (ETM) |
9/13 at 100.00 | BBB (4) | 225,834 | ||||||||||||||
| 500 |
Bonita Unified School District, San Diego County, California, General Obligation Bonds, Series 2004A, 5.250%, 8/01/20 (Pre-refunded 8/01/14) – NPFG Insured |
8/14 at 100.00 | AA (4) | 541,180 | ||||||||||||||
| 1,490 |
California Statewide Community Development Authority, Health Facility Revenue Refunding Bonds, Memorial Health Services, Series 2003A, 6.000%, 10/01/23 (Pre-refunded 4/01/13) |
4/13 at 100.00 | AA– (4) | 1,519,100 | ||||||||||||||
|
Central Unified School District, Fresno County, California, General Obligation Bonds, Series 2004A: |
||||||||||||||||||
| 1,000 |
5.500%, 7/01/22 (Pre-refunded 7/01/14) – FGIC Insured |
7/14 at 100.00 | A+ (4) | 1,075,990 | ||||||||||||||
| 1,500 |
5.500%, 7/01/24 (Pre-refunded 7/01/14) – FGIC Insured |
7/14 at 100.00 | A+ (4) | 1,613,985 | ||||||||||||||
| 2,500 |
Daly City Housing Development Finance Agency, California, Mobile Home Park Revenue Bonds, Franciscan Mobile Home Park Project, Series 2002A, 5.800%, 12/15/25 (Pre-refunded 12/15/13) |
12/13 at 102.00 | A (4) | 2,690,500 | ||||||||||||||
| 2,525 |
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.250%, 6/01/33 (Pre-refunded 6/01/13) |
6/13 at 100.00 | Aaa | 2,598,124 | ||||||||||||||
| 2,500 |
Los Angeles County Schools, California, Certificates of Participation, Pooled Financing Program, Regionalized Business Services Corporation, Series 2003A, 5.000%, 9/01/22 (Pre-refunded 9/01/13) – AGM Insured |
9/13 at 100.00 | AA– (4) | 2,587,075 | ||||||||||||||
| 1,325 |
Los Angeles Harbors Department, California, Revenue Bonds, Series 1988, 7.600%, 10/01/18 (ETM) |
10/13 at 100.00 | AA+ (4) | 1,603,595 | ||||||||||||||
| 2,000 |
Murrieta Valley Unified School District, Riverside County, California, General Obligation Bonds, Series 2003A, 5.000%, 9/01/26 (Pre-refunded 9/01/13) – FGIC Insured |
9/13 at 100.00 | A+ (4) | 2,071,680 | ||||||||||||||
| 435 |
Oakland, California, General Obligation Bonds, Series 2003A, 5.000%, 1/15/26 (Pre-refunded 1/15/13) – NPFG Insured |
1/13 at 100.00 | Aa2 (4) | 437,614 | ||||||||||||||
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1993X: |
||||||||||||||||||
| 75 |
5.500%, 7/01/15 – NPFG Insured (ETM) |
No Opt. Call | A3 (4) | 82,507 | ||||||||||||||
| 25 |
5.500%, 7/01/15 – NPFG Insured (ETM) |
No Opt. Call | Baa2 (4) | 26,896 | ||||||||||||||
| 1,505 |
San Mateo Union High School District, San Mateo County, California, Certificates of Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) – AMBAC Insured |
12/17 at 100.00 | AA– (4) | 1,826,603 | ||||||||||||||
| 44 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
U.S. Guaranteed (4) (continued) |
||||||||||||||||||
| $ | 1,000 |
Washington Unified School District, Yolo County, California, General Obligation Bonds, Series 2004A, 5.000%, 8/01/22 (Pre-refunded 8/01/13) – FGIC Insured |
8/13 at 100.00 | AA– (4) | $ | 1,031,900 | ||||||||||||
| 19,605 |
Total U.S. Guaranteed |
21,105,375 | ||||||||||||||||
|
Utilities – 3.5% |
||||||||||||||||||
| 2,445 |
California Statewide Community Development Authority, Certificates of Participation Refunding, Rio Bravo Fresno Project, Series 1999A, 6.500%, 12/01/18 |
2/13 at 100.00 | N/R | 2,417,249 | ||||||||||||||
| 500 |
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2003A–2, 5.000%, 7/01/21 – NPFG Insured |
7/13 at 100.00 | AA– | 514,095 | ||||||||||||||
|
Merced Irrigation District, California, Certificates of Participation, Water and Hydroelectric Series 2008B: |
||||||||||||||||||
| 4,535 |
0.000%, 9/01/23 |
9/16 at 64.56 | A | 2,487,674 | ||||||||||||||
| 27,110 |
0.000%, 9/01/33 |
9/16 at 32.62 | A | 7,357,383 | ||||||||||||||
| 12,000 |
0.000%, 9/01/38 |
9/16 at 23.21 | A | 2,307,840 | ||||||||||||||
| 1,210 |
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/01/31 – SYNCORA GTY Insured |
9/15 at 100.00 | N/R | 1,254,988 | ||||||||||||||
| 3,470 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Co–Generation Facility Revenue Bonds, Series 2000A, 6.625%, 6/01/26 (Alternative Minimum Tax) |
2/13 at 100.00 | Ba1 | 3,484,401 | ||||||||||||||
| 1,950 |
Salinas Valley Solid Waste Authority, California, Revenue Bonds, Series 2002, 5.250%, 8/01/27 – AMBAC Insured (Alternative Minimum Tax) |
2/13 at 100.00 | A+ | 1,954,622 | ||||||||||||||
| 2,700 |
Santa Clara, California, Subordinate Electric Revenue Bonds, Series 2003A, 5.000%, 7/01/23 – NPFG Insured |
7/13 at 100.00 | A+ | 2,771,739 | ||||||||||||||
| 55,920 |
Total Utilities |
24,549,991 | ||||||||||||||||
|
Water and Sewer – 6.5% |
||||||||||||||||||
|
Banning Utility Authority, California, Water Revenue Bonds, Series 2005: |
||||||||||||||||||
| 1,025 |
5.000%, 11/01/20 – FGIC Insured |
11/16 at 100.00 | A+ | 1,169,915 | ||||||||||||||
| 1,040 |
5.000%, 11/01/23 – FGIC Insured |
11/16 at 100.00 | A+ | 1,187,035 | ||||||||||||||
| 3,000 |
Brentwood Infrastructure Financing Authority, California, Water Revenue Bonds, Series 2008, 5.750%, 7/01/38 |
7/18 at 100.00 | AA | 3,463,860 | ||||||||||||||
| 2,000 |
California Statewide Community Development Authority, Water and Wastewater Revenue Bonds, Pooled Financing Program, Series 2003A, 5.250%, 10/01/23 – AGM Insured |
10/13 at 100.00 | AA– | 2,069,200 | ||||||||||||||
| 1,680 |
Castaic Lake Water Agency, California, Certificates of Participation, Series 2004A, 5.000%, 8/01/20 – AMBAC Insured |
8/14 at 100.00 | AA | 1,798,625 | ||||||||||||||
| 1,150 |
Compton, California, Sewer Revenue Bonds, Series 1998 Refunding, 5.375%, 9/01/23 – NPFG Insured |
2/13 at 100.00 | BBB | 1,150,414 | ||||||||||||||
| 1,250 |
Cucamonga Valley Water District, California, Certificates of Participation, Series 2006, 5.000%, 9/01/36 – NPFG Insured |
9/16 at 100.00 | AA– | 1,343,338 | ||||||||||||||
| 15 |
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2007A-2, 5.000%, 7/01/44 – AMBAC Insured |
7/17 at 100.00 | AA | 17,075 | ||||||||||||||
| 3,745 |
Los Angeles, California, Wastewater System Revenue Bonds, Refunding Series 2009A, 5.750%, 6/01/26 |
6/19 at 100.00 | AA+ | 4,681,550 | ||||||||||||||
| 5,000 |
Metropolitan Water District of Southern California, Water Revenue Bonds, 2006 Authorization Series 2007A, 5.000%, 7/01/37 |
7/17 at 100.00 | AAA | 5,782,350 | ||||||||||||||
| 1,000 |
Norco Financing Authority, California, Enterprise Revenue Refunding Bonds, Series 2009, 5.625%, 10/01/34 – AGM Insured |
10/19 at 100.00 | AA– | 1,166,150 | ||||||||||||||
| 805 |
Oakdale Irrigation District, California, Certificates of Participation, Water Facilities Project, Series 2009, 5.500%, 8/01/34 |
8/19 at 100.00 | AA | 932,383 | ||||||||||||||
| 1,770 |
Pomona Public Financing Authority, California, Revenue Bonds, Water Facilities Project, Series 2007AY, 5.000%, 5/01/27 – AMBAC Insured |
5/17 at 100.00 | A+ | 2,022,101 | ||||||||||||||
| Nuveen Investments | 45 |
Portfolio of Investments (Unaudited)
Nuveen California Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Water and Sewer (continued) |
||||||||||||||||||
|
Rowland Water District, California, Certificates of Participation, Recycled Water Project, Series 2008: |
||||||||||||||||||
| $ | 565 |
5.750%, 12/01/24 |
12/18 at 100.00 | AA– | $ | 705,476 | ||||||||||||
| 480 |
5.750%, 12/01/25 |
12/18 at 100.00 | AA– | 595,286 | ||||||||||||||
| 500 |
6.250%, 12/01/39 |
12/18 at 100.00 | AA– | 604,065 | ||||||||||||||
| 2,000 |
San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2011A, 5.000%, 11/01/41 (WI/DD, Settling 12/03/12) |
11/21 at 100.00 | AA– | 2,363,300 | ||||||||||||||
| 8,275 |
San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Series 2012A, 5.000%, 11/01/35 |
5/22 at 100.00 | AA– | 9,897,891 | ||||||||||||||
| 2,780 |
West Basin Municipal Water District, California, Revenue Bonds, Tender Option Bonds Trust 1035, 17.729%, 8/01/36 (IF) (5) |
8/21 at 100.00 | Aa2 | 4,655,833 | ||||||||||||||
| 250 |
Yuba Levee Financing Authority, California, Revenue Bonds, Yuba County Levee Financing Project, Series 2008A, 5.000%, 9/01/38 – AGC Insured |
9/17 at 100.00 | AA– | 282,430 | ||||||||||||||
| 38,330 |
Total Water and Sewer |
45,888,277 | ||||||||||||||||
| $ | 682,735 |
Total Investments (cost $631,513,797) – 99.0% |
696,929,272 | |||||||||||||||
|
Other Assets Less Liabilities – 1.0% |
7,189,181 | |||||||||||||||||
|
Net Assets – 100% |
$ | 704,118,453 | ||||||||||||||||
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 |
$ | — | $ | 696,929,272 | $ | — | $ | 696,929,272 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a
| 46 | Nuveen Investments |
similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities. For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments was $631,221,721.
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 66,384,115 | ||
|
Depreciation |
(676,564 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 65,707,551 |
| (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) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
| N/R | Not rated. |
| WI/DD | Purchased on a when-issued or delayed delivery basis. |
| (ETM) | Escrowed to maturity. |
| (IF) | Inverse floating rate investment. |
| Nuveen Investments | 47 |
Portfolio of Investments (Unaudited)
Nuveen Connecticut Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Staples – 1.9% |
||||||||||||||||||
| $ | 3,740 |
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33 |
5/13 at 100.00 | BBB+ | $ | 3,744,226 | ||||||||||||
| 3,000 |
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project, Series 2009A, 6.625%, 10/01/29 |
10/19 at 100.00 | BBB | 3,573,450 | ||||||||||||||
| 6,740 |
Total Consumer Staples |
7,317,676 | ||||||||||||||||
|
Education and Civic Organizations – 20.4% |
||||||||||||||||||
| 210 |
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A, 5.000%, 4/01/20 |
4/17 at 100.00 | BBB– | 216,922 | ||||||||||||||
| 1,185 |
Connecticut Health and Education Facilities Authority, Revenue Bonds, Connecticut College, Series 2011H, 5.000%, 7/01/41 |
7/21 at 100.00 | A2 | 1,373,403 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Brunswick School, Series 2012C: |
||||||||||||||||||
| 1,000 |
5.000%, 7/01/31 |
7/22 at 100.00 | A+ | 1,203,870 | ||||||||||||||
| 500 |
5.000%, 7/01/32 |
7/22 at 100.00 | A+ | 598,180 | ||||||||||||||
| 1,490 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 1998A, 5.000%, 7/01/18 – RAAI Insured |
1/13 at 100.00 | N/R | 1,493,055 | ||||||||||||||
| 1,435 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Canterbury School, Series 2006B, 5.000%, 7/01/36 – RAAI Insured |
7/16 at 100.00 | N/R | 1,482,455 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Chase Collegiate School, Series 2007A: |
||||||||||||||||||
| 960 |
5.000%, 7/01/27 – RAAI Insured |
7/17 at 100.00 | N/R | 1,019,242 | ||||||||||||||
| 400 |
5.000%, 7/01/32 – RAAI Insured |
7/17 at 100.00 | N/R | 419,500 | ||||||||||||||
| 2,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut College, Series 2007G, 4.500%, 7/01/37 – NPFG Insured |
7/17 at 100.00 | A2 | 2,126,280 | ||||||||||||||
| 3,205 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2010-O, 5.000%, 7/01/35 |
7/20 at 100.00 | A– | 3,631,137 | ||||||||||||||
| 650 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Kent School, Series 2004D, 5.000%, 7/01/16 – NPFG Insured |
1/15 at 100.00 | Baa2 | 695,643 | ||||||||||||||
| 4,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2006H, 5.000%, 7/01/36 – AMBAC Insured |
7/16 at 100.00 | A– | 4,421,960 | ||||||||||||||
| 4,450 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-I, 5.000%, 7/01/25 – NPFG Insured |
7/17 at 100.00 | A– | 5,136,012 | ||||||||||||||
| 4,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2007-K2, 5.000%, 7/01/31 – NPFG Insured |
7/18 at 100.00 | A– | 4,566,200 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2011G: |
||||||||||||||||||
| 1,000 |
5.125%, 7/01/26 |
7/21 at 100.00 | BBB | 1,132,260 | ||||||||||||||
| 2,500 |
5.625%, 7/01/41 |
7/21 at 100.00 | BBB | 2,871,975 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2012H: |
||||||||||||||||||
| 1,255 |
5.000%, 7/01/26 – AGM Insured |
7/22 at 100.00 | AA– | 1,474,738 | ||||||||||||||
| 1,750 |
5.000%, 7/01/27 – AGM Insured |
7/22 at 100.00 | AA– | 2,045,225 | ||||||||||||||
| 650 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2004H, 5.000%, 7/01/17 – NPFG Insured |
7/14 at 100.00 | A+ | 695,292 | ||||||||||||||
| 2,010 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2007J, 4.500%, 7/01/37 – NPFG Insured |
7/17 at 100.00 | A1 | 2,132,751 | ||||||||||||||
| 1,400 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2010M, 4.250%, 7/01/28 |
7/20 at 100.00 | A+ | 1,577,086 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2006G: |
||||||||||||||||||
| 4,995 |
5.250%, 7/01/26 – RAAI Insured |
7/16 at 100.00 | BBB– | 5,300,894 | ||||||||||||||
| 2,250 |
5.250%, 7/01/36 – RAAI Insured |
7/16 at 100.00 | BBB– | 2,331,608 | ||||||||||||||
| 685 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2003X-1, 5.000%, 7/01/42 |
7/13 at 100.00 | AAA | 703,865 | ||||||||||||||
| 48 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 10,050 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42 |
7/16 at 100.00 | AAA | $ | 11,236,099 | ||||||||||||
| 3,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-3, 5.050%, 7/01/42 |
7/17 at 100.00 | AAA | 3,464,490 | ||||||||||||||
| 1,890 |
Connecticut Higher Education Supplemental Loan Authority, Revenue Bonds, Family Education Loan Program, Series 2010A, 4.000%, 11/15/30 |
11/20 at 100.00 | Aa3 | 2,054,581 | ||||||||||||||
| 2,670 |
University of Connecticut, General Obligation Bonds, Series 2005A, 5.000%, 2/15/17 – AGM Insured |
2/15 at 100.00 | AA | 2,939,697 | ||||||||||||||
|
University of Connecticut, General Obligation Bonds, Series 2009A: |
||||||||||||||||||
| 1,000 |
5.000%, 2/15/27 |
2/19 at 100.00 | AA | 1,211,670 | ||||||||||||||
| 1,000 |
5.000%, 2/15/28 |
2/19 at 100.00 | AA | 1,211,670 | ||||||||||||||
| 630 |
University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2010A, 5.000%, 11/15/27 |
11/19 at 100.00 | Aa2 | 765,242 | ||||||||||||||
|
University of Connecticut, Student Fee Revenue Bonds, Refunding Series 2012A: |
||||||||||||||||||
| 2,000 |
5.000%, 11/15/27 (WI/DD, Settling 12/13/12) |
11/22 at 100.00 | Aa2 | 2,542,620 | ||||||||||||||
| 4,605 |
5.000%, 11/15/28 (WI/DD, Settling 12/13/12) |
11/22 at 100.00 | Aa2 | 5,834,857 | ||||||||||||||
| 70,825 |
Total Education and Civic Organizations |
79,910,479 | ||||||||||||||||
|
Health Care – 16.7% |
||||||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Bristol Hospital, Series 2002B: |
||||||||||||||||||
| 920 |
5.500%, 7/01/21 – RAAI Insured |
7/13 at 100.50 | N/R | 930,175 | ||||||||||||||
| 4,025 |
5.500%, 7/01/32 – RAAI Insured |
1/13 at 100.00 | N/R | 4,068,390 | ||||||||||||||
| 640 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2000A, 6.000%, 7/01/25 – RAAI Insured |
7/25 at 100.00 | N/R | 641,082 | ||||||||||||||
| 2,240 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Eastern Connecticut Health Network, Series 2005, 5.000%, 7/01/25 – RAAI Insured |
7/15 at 100.00 | N/R | 2,291,117 | ||||||||||||||
| 9,075 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41 |
7/21 at 100.00 | A | 10,066,079 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hospital For Special Care, Series 2007C: |
||||||||||||||||||
| 500 |
5.250%, 7/01/22 – RAAI Insured |
7/17 at 100.00 | BBB– | 537,860 | ||||||||||||||
| 1,055 |
5.250%, 7/01/32 – RAAI Insured |
7/17 at 100.00 | BBB– | 1,104,089 | ||||||||||||||
| 1,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lawrence and Memorial Hospitals, Series 2011F, 5.000%, 7/01/36 |
7/21 at 100.00 | A+ | 1,129,770 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2011N: |
||||||||||||||||||
| 495 |
5.000%, 7/01/25 |
7/21 at 100.00 | A2 | 569,839 | ||||||||||||||
| 500 |
5.000%, 7/01/27 |
7/21 at 100.00 | A2 | 572,945 | ||||||||||||||
| 90 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, St. Francis Hospital and Medical Center, Series 2002D, 5.000%, 7/01/22 – RAAI Insured |
7/13 at 100.00 | N/R | 90,430 | ||||||||||||||
| 4,020 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2010-I, 5.000%, 7/01/30 |
7/20 at 10.00 | A | 4,537,052 | ||||||||||||||
| 5,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2012-J, 5.000%, 7/01/42 |
7/22 at 100.00 | A | 5,599,700 | ||||||||||||||
| 3,840 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011M, 5.375%, 7/01/41 |
7/21 at 100.00 | A | 4,483,008 | ||||||||||||||
| 2,000 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Western Connecticut Health, Series 2011N, 5.000%, 7/01/29 |
7/21 at 100.00 | A | 2,267,560 | ||||||||||||||
| Nuveen Investments | 49 |
Portfolio of Investments (Unaudited)
Nuveen Connecticut Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, William W. Backus Hospital, Series 2005F: |
||||||||||||||||||
| $ | 2,000 |
5.000%, 7/01/28 – AGM Insured |
7/18 at 100.00 | AA– | $ | 2,229,860 | ||||||||||||
| 20 |
5.125%, 7/01/35 – AGM Insured |
7/18 at 100.00 | AA– | 22,187 | ||||||||||||||
| 11,460 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2006J-1, 5.000%, 7/01/31 – AMBAC Insured |
7/16 at 100.00 | Aa3 | 12,618,718 | ||||||||||||||
| 1,305 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Hospital, Series 2010M, 5.500%, 7/01/40 |
7/20 at 100.00 | Aa3 | 1,538,908 | ||||||||||||||
| 2,540 |
Connecticut Health and Eductaional Facilities Authority, Revenue Bonds, Ascension Health Series 2010A, 5.000%, 11/15/40 |
11/19 at 100.00 | AA+ | 2,960,167 | ||||||||||||||
| 590 |
Massachusetts Health and Education Facilities Authority, Revenue Bonds, Partners HealthCare System, Series 2010J, 5.000%, 7/01/39 |
7/19 at 100.00 | AA | 658,723 | ||||||||||||||
| 3,900 |
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.500%, 8/15/40 |
2/21 at 100.00 | Aa2 | 4,631,055 | ||||||||||||||
| 1,670 |
Orange County Health Facilities Authority, Florida, Orlando Regional Healthcare System Revenue Bonds, Series 2009, 5.125%, 10/01/26 |
10/19 at 100.00 | A | 1,898,523 | ||||||||||||||
| 58,885 |
Total Health Care |
65,447,237 | ||||||||||||||||
|
Housing/Multifamily – 0.8% |
||||||||||||||||||
| 2,875 |
Connecticut Housing Finance Authority, Multifamily Housing Mortgage Finance Program Bonds, Series 2006G-2, 4.800%, 11/15/27 (Alternative Minimum Tax) |
11/15 at 100.00 | AAA | 2,992,674 | ||||||||||||||
|
Housing/Single Family – 3.1% |
||||||||||||||||||
| 5,000 |
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2004-A5, 5.050%, 11/15/34 |
5/13 at 100.00 | AAA | 5,047,900 | ||||||||||||||
|
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006-A1: |
||||||||||||||||||
| 1,610 |
4.700%, 11/15/26 (Alternative Minimum Tax) |
11/15 at 100.00 | AAA | 1,672,967 | ||||||||||||||
| 1,735 |
4.800%, 11/15/31 (Alternative Minimum Tax) |
11/15 at 100.00 | AAA | 1,792,567 | ||||||||||||||
| 3,410 |
Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2006D, 4.650%, 11/15/27 |
5/16 at 100.00 | AAA | 3,614,225 | ||||||||||||||
| 11,755 |
Total Housing/Single Family |
12,127,659 | ||||||||||||||||
|
Long-Term Care – 1.9% |
||||||||||||||||||
|
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Connecticut Baptist Homes Inc., Series 1999: |
||||||||||||||||||
| 560 |
5.500%, 9/01/15 – RAAI Insured |
3/13 at 100.00 | BBB– | 561,378 | ||||||||||||||
| 500 |
5.625%, 9/01/22 – RAAI Insured |
3/13 at 100.00 | BBB– | 500,890 | ||||||||||||||
| 1,325 |
Connecticut Development Authority, First Mortgage Gross Revenue Refunding Healthcare Bonds, Elim Park Baptist Home Inc., Series 1998A, 5.375%, 12/01/18 |
6/13 at 100.00 | BBB | 1,344,345 | ||||||||||||||
| 3,200 |
Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Refunding Series 2010-16, 5.000%, 6/15/30 |
6/20 at 100.00 | AA | 3,684,992 | ||||||||||||||
|
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A: |
||||||||||||||||||
| 830 |
7.625%, 1/01/30 |
1/20 at 100.00 | N/R | 938,531 | ||||||||||||||
| 350 |
7.750%, 1/01/43 |
1/20 at 100.00 | N/R | 390,247 | ||||||||||||||
| 85 |
Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009B, 6.125%, 1/01/14 |
5/13 at 100.00 | N/R | 85,150 | ||||||||||||||
| 6,850 |
Total Long-Term Care |
7,505,533 | ||||||||||||||||
|
Tax Obligation/General – 18.9% |
||||||||||||||||||
| 5,000 |
Connecticut State, General Obligation Bonds, Refunding Series 2012C, 5.000%, 6/01/22 |
No Opt. Call | AA | 6,475,748 | ||||||||||||||
| 50 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
|
Connecticut State, General Obligation Bonds, Refunding Series 2012E: |
||||||||||||||||||
| $ | 1,000 |
5.000%, 9/15/30 |
9/22 at 100.00 | AA | $ | 1,242,920 | ||||||||||||
| 2,710 |
5.000%, 9/15/32 |
9/22 at 100.00 | AA | 3,333,463 | ||||||||||||||
|
Connecticut State, General Obligation Bonds, Series 2001C: |
||||||||||||||||||
| 5,000 |
5.500%, 12/15/13 (UB) |
No Opt. Call | AA | 5,277,000 | ||||||||||||||
| 10,000 |
5.500%, 12/15/14 (UB) |
No Opt. Call | AA | 11,057,200 | ||||||||||||||
| 5,000 |
Connecticut State, General Obligation Bonds, Series 2006A, 4.750%, 12/15/24 |
12/16 at 100.00 | AA | 5,735,500 | ||||||||||||||
| 2,200 |
Connecticut State, General Obligation Bonds, Series 2006C, 5.000%, 6/01/23 – AGM Insured |
6/16 at 100.00 | AA | 2,525,358 | ||||||||||||||
| 1,000 |
Connecticut State, General Obligation Bonds, Series 2006E, 5.000%, 12/15/20 |
12/16 at 10.00 | AA | 1,170,620 | ||||||||||||||
|
Connecticut State, General Obligation Bonds, Series 2008C: |
||||||||||||||||||
| 1,000 |
5.000%, 11/01/26 |
11/18 at 100.00 | AA | 1,199,720 | ||||||||||||||
| 1,000 |
5.000%, 11/01/27 |
11/18 at 100.00 | AA | 1,195,960 | ||||||||||||||
| 1,015 |
5.000%, 11/01/28 |
11/18 at 100.00 | AA | 1,210,103 | ||||||||||||||
| 1,000 |
Connecticut State, General Obligation Bonds, Series 2011D, 5.000%, 11/01/31 |
11/21 at 100.00 | AA | 1,224,270 | ||||||||||||||
|
Hartford, Connecticut, General Obligation Bonds, Series 2005A: |
||||||||||||||||||
| 1,195 |
5.000%, 8/01/20 – AGM Insured |
8/15 at 100.00 | AA– | 1,331,529 | ||||||||||||||
| 595 |
5.000%, 8/01/21 – AGM Insured |
8/15 at 100.00 | AA– | 661,973 | ||||||||||||||
| 1,210 |
4.375%, 8/01/24 – AGM Insured |
8/15 at 100.00 | AA– | 1,315,815 | ||||||||||||||
| 2,000 |
New Haven, Connecticut, General Obligation Bonds, Refunding Series 2012A, 5.000%, 11/01/18 |
No Opt. Call | A1 | 2,371,500 | ||||||||||||||
| 485 |
North Haven, Connecticut, General Obligation Bonds, Series 2006, 5.000%, 7/15/24 |
No Opt. Call | Aa1 | 652,563 | ||||||||||||||
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A: |
||||||||||||||||||
| 700 |
5.500%, 7/01/14 – AGM Insured |
No Opt. Call | AA– | 744,625 | ||||||||||||||
| 2,125 |
5.500%, 7/01/16 – AGM Insured |
No Opt. Call | AA– | 2,393,685 | ||||||||||||||
| 2,500 |
5.500%, 7/01/17 – AGM Insured |
No Opt. Call | AA– | 2,878,000 | ||||||||||||||
| 2,870 |
5.500%, 7/01/18 – AGM Insured |
No Opt. Call | AA– | 3,350,438 | ||||||||||||||
| 1,875 |
5.500%, 7/01/19 – AGM Insured |
No Opt. Call | AA– | 2,201,531 | ||||||||||||||
| 1,700 |
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/29 – FGIC Insured |
No Opt. Call | Baa1 | 1,877,140 | ||||||||||||||
| 1,000 |
Quincy, Massachusetts, General Obligation Bonds, Series 2011, 5.125%, 12/01/33 |
12/20 at 100.00 | Aa2 | 1,191,640 | ||||||||||||||
| 3,000 |
Waterbuury, Connecticut, General Obligation Bonds, Series 2012A, 5.000%, 8/01/30 |
8/22 at 100.00 | A1 | 3,604,860 | ||||||||||||||
| 2,000 |
West Haven, Connecticut, General Obligation Bonds, Series 2012, 5.000%, 8/01/24 – AGM Insured |
8/22 at 100.00 | AA– | 2,302,320 | ||||||||||||||
|
Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011: |
||||||||||||||||||
| 1,280 |
7.000%, 12/01/24 – AGM Insured |
12/20 at 100.00 | AA– | 1,602,726 | ||||||||||||||
| 1,415 |
7.000%, 12/01/25 – AGM Insured |
12/20 at 100.00 | AA– | 1,763,331 | ||||||||||||||
| 1,725 |
7.000%, 12/01/27 – AGM Insured |
12/20 at 100.00 | AA– | 2,140,104 | ||||||||||||||
| 63,600 |
Total Tax Obligation/General |
74,031,642 | ||||||||||||||||
|
Tax Obligation/Limited – 12.8% |
||||||||||||||||||
| 2,600 |
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2006F, 5.000%, 7/01/36 – AGC Insured |
7/16 at 100.00 | AA– | 2,794,272 | ||||||||||||||
| 1,315 |
Connecticut Health and Educational Facilities Authority, Child Care Facilities Program Revenue Bonds, Series 2008G, 6.000%, 7/01/28 – AGC Insured |
7/18 at 100.00 | AA– | 1,554,659 | ||||||||||||||
| Nuveen Investments | 51 |
Portfolio of Investments (Unaudited)
Nuveen Connecticut Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
|
Connecticut, Certificates of Participation, Juvenile Training School, Series 2001: |
||||||||||||||||||
| $ | 1,275 |
5.000%, 12/15/20 |
12/13 at 100.00 | AA– | $ | 1,303,611 | ||||||||||||
| 1,000 |
5.000%, 12/15/30 |
12/13 at 100.00 | AA– | 1,022,540 | ||||||||||||||
| 5,000 |
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Revenue Bonds, Series 2007A, 5.000%, 8/01/26 – AMBAC Insured |
8/17 at 100.00 | AA | 5,782,550 | ||||||||||||||
| 5,000 |
Connecticut, Special Tax Obligation Transportation Infrastructure Purposes Bonds, Series 2008A, 5.000%, 11/01/28 |
11/18 at 100.00 | AA | 5,865,400 | ||||||||||||||
| 800 |
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/37 |
1/22 at 100.00 | A | 908,344 | ||||||||||||||
| 2,200 |
Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.750%, 12/01/34 |
12/19 at 100.00 | BBB+ | 2,520,496 | ||||||||||||||
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N: |
||||||||||||||||||
| 200 |
5.250%, 7/01/31 – AMBAC Insured |
No Opt. Call | Baa1 | 220,750 | ||||||||||||||
| 4,100 |
5.250%, 7/01/33 – NPFG Insured |
No Opt. Call | Baa1 | 4,501,062 | ||||||||||||||
| 4,650 |
Puerto Rico Municipal Finance Agency, Series 2005C, 5.000%, 8/01/16 – AGM Insured |
8/15 at 100.00 | AA– | 5,025,255 | ||||||||||||||
| 3,250 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42 |
8/19 at 100.00 | A+ | 3,691,123 | ||||||||||||||
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A: |
||||||||||||||||||
| 13,230 |
0.000%, 8/01/33 |
No Opt. Call | A+ | 4,508,255 | ||||||||||||||
| 5,000 |
5.500%, 8/01/37 |
2/20 at 100.00 | A+ | 5,477,850 | ||||||||||||||
| 1,050 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 5.250%, 8/01/57 |
8/17 at 100.00 | AA– | 1,125,758 | ||||||||||||||
| 305 |
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured |
No Opt. Call | A3 | 349,881 | ||||||||||||||
| 1,720 |
Stamford, Connecticut, Special Obligation Revenue Bonds, Mill River Corridor Project, Series 2011A, 7.000%, 4/01/41 |
4/21 at 100.00 | N/R | 1,864,188 | ||||||||||||||
| 1,370 |
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien Series 2010A, 5.000%, 10/01/29 |
10/20 at 100.00 | BBB+ | 1,523,098 | ||||||||||||||
| 54,065 |
Total Tax Obligation/Limited |
50,039,092 | ||||||||||||||||
|
Transportation – 0.4% |
||||||||||||||||||
| 1,360 |
New Haven, Connecticut, Revenue Refunding Bonds, Air Rights Parking Facility, Series 2002, 5.375%, 12/01/14 – AMBAC Insured |
No Opt. Call | N/R | 1,430,462 | ||||||||||||||
| 250 |
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series
1996A, 6.250%, 6/01/26 (Alternative Minimum
|
6/13 at 100.00 | N/R | 193,135 | ||||||||||||||
| 1,610 |
Total Transportation |
1,623,597 | ||||||||||||||||
|
U.S. Guaranteed – 5.4% (5) |
||||||||||||||||||
| 1,440 |
Bridgeport, Connecticut, General Obligation Bonds, Series 2003A, 5.250%, 9/15/22 (Pre-refunded 9/15/13) – AGM Insured |
9/13 at 100.00 | AA– (5) | 1,497,341 | ||||||||||||||
| 1,540 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Brunswick School, Series 2003B, 5.000%, 7/01/33 (Pre-refunded 7/01/13) – NPFG Insured |
7/13 at 100.00 | BBB (5) | 1,582,766 | ||||||||||||||
| 775 |
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Lutheran General Healthcare System – Parkside Lodges Projects, Series 1989, 7.375%, 7/01/19 (ETM) |
1/13 at 100.00 | Aaa | 946,074 | ||||||||||||||
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Renbrook School, Series 2007A: |
||||||||||||||||||
| 395 |
5.000%, 7/01/30 (Pre-refunded 7/01/17) – AMBAC Insured |
7/17 at 100.00 | N/R (5) | 470,639 | ||||||||||||||
| 965 |
5.000%, 7/01/37 (Pre-refunded 7/01/17) – AMBAC Insured |
7/17 at 100.00 | N/R (5) | 1,149,788 | ||||||||||||||
| 2,330 |
Connecticut State, General Obligation Bonds, Series 2004C, 5.000%, 4/01/23 (Pre-refunded 4/01/14) – FGIC Insured |
4/14 at 100.00 | AA (5) | 2,475,905 | ||||||||||||||
| 52 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
U.S. Guaranteed (5) (continued) |
||||||||||||||||||
| $ | 1,000 |
Connecticut, Special Tax Obligation Transportation Infrastructure Purpose Bonds, Series 2003B, 5.000%, 1/01/23 (Pre-refunded 1/01/14) – FGIC Insured |
1/14 at 100.00 | AA (5) | $ | 1,050,640 | ||||||||||||
| 1,550 |
Connecticut, State Revolving Fund General Revenue Bonds, Series 2003A, 5.000%, 10/01/16 (Pre-refunded 10/01/13) |
10/13 at 100.00 | AAA | 1,611,923 | ||||||||||||||
| 1,395 |
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, 5.500%, 7/01/19 – NPFG Insured (ETM) |
No Opt. Call | BBB (5) | 1,813,765 | ||||||||||||||
| 3,955 |
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A, 5.000%, 8/01/33 (Pre-refunded 8/01/13) – NPFG Insured |
8/13 at 100.00 | Aa3 (5) | 4,081,165 | ||||||||||||||
| 1,435 |
University of Connecticut, General Obligation Bonds, Series 2004A, 5.000%, 1/15/16 (Pre-refunded 1/15/14) – NPFG Insured |
1/14 at 100.00 | AA (5) | 1,511,084 | ||||||||||||||
| 3,120 |
University of Connecticut, Special Obligation Student Fee Revenue Bonds, Refunding Series 2002A, 5.250%, 11/15/20 (Pre-refunded 1/16/13) – FGIC Insured |
1/13 at 101.00 | Aa2 (5) | 3,171,199 | ||||||||||||||
| 19,900 |
Total U.S. Guaranteed |
21,362,289 | ||||||||||||||||
|
Utilities – 8.1% |
||||||||||||||||||
|
Connecticut Municipal Electric Energy Cooperative, Transmission Services Revenue Bonds, Series 2012A: |
||||||||||||||||||
| 955 |
5.000%, 1/01/24 |
1/22 at 100.00 | Aa3 | 1,191,487 | ||||||||||||||
| 880 |
5.000%, 1/01/25 |
1/22 at 100.00 | Aa3 | 1,088,850 | ||||||||||||||
| 5,250 |
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1992A, 6.450%, 11/15/22 (Alternative Minimum Tax) |
5/13 at 100.00 | Ba1 | 5,259,870 | ||||||||||||||
| 1,000 |
Connecticut Resource Recovery Authority, Revenue Bonds, American Ref-Fuel Company of Southeastern Connecticut LP, Series 1998A-II, 5.500%, 11/15/15 (Alternative Minimum Tax) |
12/13 at 100.00 | Ba1 | 1,011,020 | ||||||||||||||
| 3,170 |
Connecticut Transmission Municipal Electric Energy Cooperative, Transmission System Revenue Bonds, Series 2012A, 5.000%, 1/01/42 |
1/22 at 100.00 | Aa3 | 3,710,739 | ||||||||||||||
|
Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A: |
||||||||||||||||||
| 265 |
5.500%, 1/01/14 (Alternative Minimum Tax) |
1/13 at 100.00 | BBB | 266,010 | ||||||||||||||
| 6,685 |
5.500%, 1/01/20 (Alternative Minimum Tax) |
1/13 at 100.00 | BBB | 6,711,671 | ||||||||||||||
|
Guam Power Authority, Revenue Bonds, Series 2012A: |
||||||||||||||||||
| 440 |
5.000%, 10/01/25 – AGM Insured |
10/22 at 100.00 | AA– | 517,453 | ||||||||||||||
| 555 |
5.000%, 10/01/30 – AGM Insured |
10/22 at 100.00 | AA– | 640,481 | ||||||||||||||
|
Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series 2002: |
||||||||||||||||||
| 5,000 |
5.000%, 7/01/19 – NPFG Insured |
No Opt. Call | BBB+ | 5,626,850 | ||||||||||||||
| 5,000 |
5.000%, 7/01/20 – NPFG Insured |
No Opt. Call | BBB+ | 5,648,500 | ||||||||||||||
| 29,200 |
Total Utilities |
31,672,931 | ||||||||||||||||
|
Water and Sewer – 8.8% |
||||||||||||||||||
| 160 |
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Refunding Series 2005B, 4.400%, 8/01/29 – SYNCORA GTY Insured |
8/14 at 100.00 | N/R | 163,366 | ||||||||||||||
| 5,625 |
Connecticut Development Authority, Water Facility Revenue Bonds, Aquarion Water Company Project, Series 2007, 5.100%, 9/01/37 – SYNCORA GTY Insured (Alternative Minimum Tax) |
9/17 at 100.00 | N/R | 6,047,494 | ||||||||||||||
|
Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A: |
||||||||||||||||||
| 3,840 |
5.000%, 11/15/30 – NPFG Insured |
11/15 at 100.00 | A1 | 4,225,690 | ||||||||||||||
| 4,670 |
5.000%, 8/15/35 – NPFG Insured |
11/15 at 100.00 | A1 | 5,146,200 | ||||||||||||||
| 2,350 |
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 |
7/20 at 100.00 | Ba2 | 2,505,782 | ||||||||||||||
| Nuveen Investments | 53 |
Portfolio of Investments (Unaudited)
Nuveen Connecticut Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Water and Sewer (continued) |
||||||||||||||||||
| $ | 1,000 |
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2011 Series EE, 5.375%, 6/15/43 |
12/20 at 100.00 | AA+ | $ | 1,233,080 | ||||||||||||
| 1,140 |
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 1,208,856 | ||||||||||||||
| 3,000 |
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Eighteenth Series 2003A, 5.000%, 8/01/20 – NPFG Insured |
8/13 at 100.00 | Aa3 | 3,091,050 | ||||||||||||||
| 2,760 |
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth Series, 2007A, 5.000%, 8/01/30 – NPFG Insured |
8/16 at 100.00 | Aa3 | 3,063,572 | ||||||||||||||
| 4,130 |
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Sixth Series, 2011, 5.000%, 8/01/41 |
8/21 at 100.00 | Aa3 | 4,857,954 | ||||||||||||||
| 2,000 |
South Central Connecticut Regional Water Authority, Water System Revenue Bonds, Twentieth-Seventh Series, 2012, 5.000%, 8/01/30 – FGIC Insured |
8/22 at 100.00 | Aa3 | 2,462,780 | ||||||||||||||
| 550 |
Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2003A, 5.000%, 11/15/32 |
11/13 at 100.00 | AA+ | 572,385 | ||||||||||||||
| 31,225 |
Total Water and Sewer |
34,578,209 | ||||||||||||||||
| $ | 357,530 |
Total Investments (cost $356,623,828) – 99.2% |
388,609,018 | |||||||||||||||
|
Floating Rate Obligations – (2.6)% |
(10,000,000) | |||||||||||||||||
|
Other Assets Less Liabilities – 3.4% |
13,304,399 | |||||||||||||||||
|
Net Assets – 100% |
$ | 391,913,417 | ||||||||||||||||
Fair Value Measurements
Fair value is defined as the price that the Funds 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 |
$ | — | $ | 388,609,018 | $ | — | $ | 388,609,018 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for
| 54 | Nuveen Investments |
investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments was $346,175,288.
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 32,491,730 | ||
|
Depreciation |
(58,000 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 32,433,730 |
| (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) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
| (5) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. |
| N/R | Not rated. |
| WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
| (ETM) | Escrowed to maturity. |
| (UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
| Nuveen Investments | 55 |
Portfolio of Investments (Unaudited)
Nuveen Massachusetts Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Discretionary – 0.5% |
||||||||||||||||||
| $ | 1,425 |
Boston Industrial Development Financing Authority, Massachusetts, Senior Revenue Bonds, Crosstown Center Project, Series 2002, 6.500%, 9/01/35 (Alternative Minimum Tax) |
3/13 at 102.00 | Caa3 | $ | 1,140,271 | ||||||||||||
|
Consumer Staples – 0.8% |
||||||||||||||||||
| 725 |
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33 |
5/13 at 100.00 | BBB+ | 725,819 | ||||||||||||||
| 1,000 |
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project, Series 2009A, 6.625%, 10/01/29 |
10/19 at 100.00 | BBB | 1,191,150 | ||||||||||||||
| 1,725 |
Total Consumer Staples |
1,916,969 | ||||||||||||||||
|
Education and Civic Organizations – 26.3% |
||||||||||||||||||
| 1,270 |
Massachusetts Development Finance Agency, Revenue Bonds, Bentley University, Series 2010, 5.000%, 7/01/28 |
7/20 at 100.00 | A3 | 1,438,859 | ||||||||||||||
| 1,500 |
Massachusetts Development Finance Agency, Revenue Bonds, Boston College, Series 2010R-1, 5.000%, 7/01/40 |
7/20 at 100.00 | AA– | 1,744,695 | ||||||||||||||
| 965 |
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2005T-1, 5.000%, 10/01/39 – AMBAC Insured |
10/15 at 100.00 | A | 1,048,723 | ||||||||||||||
| 1,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2008U-4, 5.600%, 10/01/35 |
10/19 at 100.00 | A2 | 1,166,500 | ||||||||||||||
| 750 |
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2009V-1, 5.000%, 10/01/29 |
10/19 at 100.00 | A | 865,853 | ||||||||||||||
| 3,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Brandeis University, Series 2008N, 5.000%, 10/01/39 |
10/18 at 100.00 | A1 | 3,393,510 | ||||||||||||||
| 6,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Draper Laboratory, Series 2008, 5.875%, 9/01/30 |
9/18 at 100.00 | Aa3 | 7,237,376 | ||||||||||||||
| 1,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2010A, 5.000%, 1/01/40 |
1/20 at 100.00 | BBB+ | 1,083,270 | ||||||||||||||
| 3,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Harvard University, Series 2010B-1, 5.000%, 10/15/40 |
10/20 at 100.00 | AAA | 3,619,920 | ||||||||||||||
| 1,350 |
Massachusetts Development Finance Agency, Revenue Bonds, Merrimack College, Series 2012A, 5.250%, 7/01/42 |
7/22 at 100.00 | BBB– | 1,508,301 | ||||||||||||||
| 1,000 |
Massachusetts Development Finance Agency, Revenue Bonds, Sterling and Francine Clark Art Institute, Series 2011A, 5.000%, 7/01/41 |
7/21 at 100.00 | AA | 1,163,120 | ||||||||||||||
| 3,500 |
Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2011A, 5.250%, 4/01/37 |
4/21 at 100.00 | AA– | 4,067,070 | ||||||||||||||
| 1,000 |
Massachusetts Development Finance Agency, Revenue Bonds, The Sabis International Charter School, Series 2009A, 8.000%, 4/15/39 |
10/19 at 100.00 | BBB | 1,251,270 | ||||||||||||||
|
Massachusetts Development Finance Agency, Revenue Bonds, Williston Northampton School, Series 2005B: |
||||||||||||||||||
| 100 |
5.000%, 10/01/25 – SYNCORA GTY Insured |
10/15 at 100.00 | Baa2 | 105,097 | ||||||||||||||
| 3,090 |
5.000%, 10/01/37 – SYNCORA GTY Insured |
10/15 at 100.00 | Baa2 | 3,184,863 | ||||||||||||||
| 895 |
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2007, 5.000%, 9/01/37 – NPFG Insured |
9/17 at 100.00 | A+ | 995,240 | ||||||||||||||
| 2,400 |
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute, Series 2012, 5.000%, 9/01/50 |
9/22 at 100.00 | A+ | 2,751,768 | ||||||||||||||
| 3,000 |
Massachusetts Development Finance Authority, Revenue Bonds, Curry College, Series 1999A, 5.500%, 3/01/29 – ACA Insured |
3/13 at 100.00 | BBB | 3,004,590 | ||||||||||||||
|
Massachusetts Development Finance Authority, Revenue Bonds, Hampshire College, Series 2004: |
||||||||||||||||||
| 1,000 |
5.625%, 10/01/24 |
10/14 at 100.00 | BBB | 1,041,770 | ||||||||||||||
| 1,000 |
5.700%, 10/01/34 |
10/14 at 100.00 | BBB | 1,035,440 | ||||||||||||||
| 3,075 |
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2005D, 5.000%, 7/01/27 – AGC Insured |
7/15 at 100.00 | AA– | 3,344,093 | ||||||||||||||
| 56 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 2,100 |
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42 – AMBAC Insured |
No Opt. Call | A | $ | 2,970,030 | ||||||||||||
| 1,840 |
Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2008H, 6.350%, 1/01/30 – AGC Insured (Alternative Minimum Tax) |
1/18 at 100.00 | AA | 2,088,290 | ||||||||||||||
| 1,840 |
Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Series 2009I, 6.000%, 1/01/28 |
1/20 at 100.00 | AA | 2,186,730 | ||||||||||||||
| 1,500 |
Massachusetts Educational Financing Authority, Educational Loan Revenue, Series 2011J, 5.625%, 7/01/33 (Alternative Minimum Tax) |
7/21 at 100.00 | AA | 1,647,585 | ||||||||||||||
| 800 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Tender Option Bond Trust 2010-20W, 13.795%, 12/15/34 (IF) (4) |
12/19 at 100.00 | AAA | 1,329,328 | ||||||||||||||
| 1,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lesley University, Series 2009A, 5.000%, 7/01/29 – AGC Insured |
7/19 at 100.00 | AA– | 1,154,930 | ||||||||||||||
| 3,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Tufts University, Series 2008O, 5.375%, 8/15/38 |
8/18 at 100.00 | Aa2 | 3,676,890 | ||||||||||||||
| 1,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, University of Massachusetts, Series 2005D, 5.250%, 10/01/24 – FGIC Insured |
10/14 at 100.00 | AA | 1,080,020 | ||||||||||||||
| 500 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wellesley College, Series 2003H, 5.000%, 7/01/26 |
7/13 at 100.00 | AA+ | 511,775 | ||||||||||||||
| 610 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Williams College, Series 2007L, 5.000%, 7/01/31 |
7/16 at 100.00 | AA+ | 686,085 | ||||||||||||||
| 1,500 |
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39 |
7/19 at 100.00 | BBB | 1,708,755 | ||||||||||||||
| 425 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financial Authority, Higher Education Revenue and Revenue Refunding Bonds, University of the Sacred Heart Project, Series 2012, 4.375%, 10/01/31 (WI/DD, Settling 12/18/12) |
10/22 at 100.00 | BBB | 425,213 | ||||||||||||||
| 56,010 |
Total Education and Civic Organizations |
64,516,959 | ||||||||||||||||
|
Health Care – 15.2% |
||||||||||||||||||
|
Massachusetts Development Finance Agency, Revenue Bonds, Berkshire Health Systems, Series 2012G: |
||||||||||||||||||
| 3,005 |
5.000%, 10/01/28 |
10/21 at 100.00 | A3 | 3,464,555 | ||||||||||||||
| 500 |
5.000%, 10/01/30 |
10/21 at 100.00 | A3 | 572,295 | ||||||||||||||
| 1,500 |
Massachusetts Health and Educational Facilities Authority Revenue Bonds, Quincy Medical Center Issue, Series 2008A, 6.500%, 1/15/38 (5) |
1/18 at 100.00 | N/R | 7,680 | ||||||||||||||
| 2,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Baystate Medical Center, Series 2009I, 5.750%, 7/01/36 |
7/19 at 100.00 | A+ | 2,292,320 | ||||||||||||||
| 3,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Boston Medical Center, Series 2008B, 5.250%, 7/01/38 |
7/18 at 100.00 | BBB+ | 3,208,410 | ||||||||||||||
| 3,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Health Care Inc., Series 2001C, 5.250%, 11/15/31 – RAAI Insured |
5/13 at 100.50 | BBB+ | 3,018,060 | ||||||||||||||
| 1,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Healthcare Obligated Group, Series 2004D, 5.125%, 11/15/35 – AGC Insured |
11/19 at 100.00 | AA– | 1,118,890 | ||||||||||||||
| 1,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Auction Rate Series 2004D, 5.250%, 7/01/24 – NPFG Insured |
7/18 at 100.00 | A– | 1,175,460 | ||||||||||||||
| 350 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B1 Capital Asset Program Converted June 13, 2008, 5.375%, 2/01/28 – NPFG Insured |
8/18 at 100.00 | A– | 405,255 | ||||||||||||||
| Nuveen Investments | 57 |
Portfolio of Investments (Unaudited)
Nuveen Massachusetts Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc., Series B2, Capital Asset Program, Converted June 9, 2009: |
||||||||||||||||||
| $ | 500 |
5.000%, 2/01/25 – NPFG Insured |
8/18 at 100.00 | A– | $ | 573,420 | ||||||||||||
| 100 |
5.375%, 2/01/27 – NPFG Insured |
8/18 at 100.00 | A– | 115,839 | ||||||||||||||
| 2,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series 2002, 5.125%, 8/01/22 – AGM Insured |
2/13 at 100.00 | AA– | 2,004,840 | ||||||||||||||
| 1,700 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital, Series 2005E, 5.000%, 8/15/35 – RAAI Insured |
8/15 at 100.00 | N/R | 1,708,415 | ||||||||||||||
| 1,500 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard Pilgrim Healthcare, Series 1998A, 4.750%, 7/01/22 – AGM Insured |
1/13 at 100.00 | AA– | 1,503,090 | ||||||||||||||
| 3,400 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Clinic Medical Center, Series 2005C, 5.000%, 8/15/21 – FGIC Insured |
8/15 at 100.00 | A+ | 3,732,112 | ||||||||||||||
| 2,000 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Medical Center, Series 2007D, 5.250%, 8/15/28 |
8/17 at 100.00 | A+ | 2,206,760 | ||||||||||||||
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional Medical Center, Series 2007E: |
||||||||||||||||||
| 2,040 |
5.000%, 7/15/32 |
7/17 at 100.00 | BBB– | 2,096,202 | ||||||||||||||
| 1,000 |
5.000%, 7/15/37 |
7/17 at 100.00 | BBB– | 1,023,760 | ||||||||||||||
| 115 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Millford-Whitinsville Regional Hospital, Series 1998C, 5.750%, 7/15/13 |
1/13 at 100.00 | BBB– | 115,266 | ||||||||||||||
| 1,400 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital Project, Series 2005D, 5.250%, 7/01/30 |
7/15 at 100.00 | BB | 1,422,568 | ||||||||||||||
| 1,448 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012A, 6.000%, 2/15/43 |
1/13 at 103.00 | N/R | 1,258,790 | ||||||||||||||
| 1,098 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012B, 0.000%, 2/15/43 |
1/13 at 103.00 | N/R | 109,933 | ||||||||||||||
| 1,732 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012C, 0.000%, 2/15/43 |
1/13 at 103.00 | N/R | 17 | ||||||||||||||
| 4,065 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Health Care, Series 2005D, 5.000%, 7/01/33 |
7/15 at 100.00 | A– | 4,227,152 | ||||||||||||||
| 39,453 |
Total Health Care |
37,361,089 | ||||||||||||||||
|
Housing/Multifamily – 3.4% |
||||||||||||||||||
| 1,535 |
Boston Housing Authority, Massachusetts, Capital Program Revenue Bonds, Series 2008, 5.000%, 4/01/20 – AGM Insured |
4/18 at 100.00 | AA– | 1,770,960 | ||||||||||||||
| 3,170 |
Massachusetts Development Finance Authority, Multifamily Housing Revenue Bonds, Emerson Manor Project, Series 2007, 4.800%, 7/20/48 |
7/17 at 100.00 | BB | 3,335,886 | ||||||||||||||
| 500 |
Massachusetts Housing Finance Agency, Housing Revenue Bonds, Series 2003S, 5.050%, 12/01/23 (Alternative Minimum Tax) |
6/13 at 100.00 | AA– | 503,945 | ||||||||||||||
| 2,575 |
Somerville Housing Authority, Massachusetts, GNMA Collateralized Mortgage Revenue Bonds, Clarendon Hill Towers, Series 2002, 5.200%, 11/20/22 |
5/13 at 102.00 | N/R | 2,657,838 | ||||||||||||||
| 7,780 |
Total Housing/Multifamily |
8,268,629 | ||||||||||||||||
|
Housing/Single Family – 0.5% |
||||||||||||||||||
| 925 |
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2008, Trust 3145, 15.477%, 6/01/16 (IF) |
No Opt. Call | AA | 1,098,438 | ||||||||||||||
| 58 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Housing/Single Family (continued) |
||||||||||||||||||
| $ | 230 |
Puerto Rico Housing Finance Authority, Mortgage-Backed Securities Program Home Mortgage Revenue Bonds, Series 2003A, 4.875%, 6/01/34 (Alternative Minimum Tax) |
6/13 at 100.00 | Aaa | $ | 231,442 | ||||||||||||
| 1,155 |
Total Housing/Single Family |
1,329,880 | ||||||||||||||||
|
Industrials – 0.3% |
||||||||||||||||||
| 245 |
Massachusetts Development Finance Agency, Pioneer Valley Resource Recovery Revenue Bonds, Eco/Springfield LLC, Series 2006, 5.875%, 7/01/14 (Alternative Minimum Tax) |
No Opt. Call | N/R | 244,326 | ||||||||||||||
| 400 |
Massachusetts Development Finance Agency, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2003, 5.450%, 6/01/14 |
No Opt. Call | BBB | 427,884 | ||||||||||||||
| 645 |
Total Industrials |
672,210 | ||||||||||||||||
|
Long-Term Care – 2.8% |
||||||||||||||||||
| 1,500 |
Massachusetts Development Finance Agency, Human Service Provider Revenue Bonds, Seven Hills Foundation and Affiliates Issue, Series 2005, 5.000%, 9/01/35 – RAAI Insured |
9/15 at 100.00 | BBB– | 1,509,840 | ||||||||||||||
| 240 |
Massachusetts Development Finance Agency, Revenue Bonds, Carleton-Willard Village, Series 2010, 5.625%, 12/01/30 |
12/19 at 100.00 | A– | 270,876 | ||||||||||||||
| 4,220 |
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 5.250%, 10/01/26 |
4/13 at 102.00 | N/R | 4,306,003 | ||||||||||||||
| 45 |
Massachusetts Development Finance Authority, First Mortgage Revenue Bonds, Berkshire Retirement Community – Edgecombe Project, Series 2001A, 6.750%, 7/01/21 |
1/13 at 101.00 | BBB | 45,557 | ||||||||||||||
| 75 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cable Housing and Health Services, Series 1993A, 5.625%, 7/01/13 – NPFG Insured |
1/13 at 100.00 | BBB | 75,257 | ||||||||||||||
| 655 |
Massachusetts Industrial Finance Agency, First Mortgage Revenue Bonds, Berkshire Retirement Community, Series 1994B, 4.750%, 7/01/17 |
1/13 at 100.00 | BBB | 655,786 | ||||||||||||||
| 6,735 |
Total Long-Term Care |
6,863,319 | ||||||||||||||||
|
Tax Obligation/General – 7.5% |
||||||||||||||||||
| 500 |
Ashland, Massachusetts, General Obligation Bonds, Series 2004, 5.250%, 5/15/23 – AMBAC Insured |
5/15 at 100.00 | Aa2 | 556,220 | ||||||||||||||
|
Fall River, Massachusetts, General Obligation Bonds, Series 2003: |
||||||||||||||||||
| 895 |
5.250%, 2/01/17 – AGM Insured |
2/13 at 101.00 | AA– | 911,128 | ||||||||||||||
| 630 |
5.000%, 2/01/21 – AGM Insured |
2/13 at 101.00 | AA– | 641,088 | ||||||||||||||
| 1,750 |
Hudson, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2011, 5.000%, 2/15/32 |
2/20 at 100.00 | AA | 2,057,703 | ||||||||||||||
| 1,200 |
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 |
No Opt. Call | AA+ | 1,606,620 | ||||||||||||||
| 1,000 |
North Reading, Massachusetts, General Obligation Bonds, Series 2012, 5.000%, 5/15/35 – AMBAC Insured |
5/22 at 100.00 | Aa2 | 1,205,200 | ||||||||||||||
| 1,350 |
Norwell, Massachusetts, General Obligation Bonds, Series 2005, 5.000%, 2/15/25 – AMBAC Insured |
2/15 at 101.00 | AAA | 1,485,513 | ||||||||||||||
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2001A: |
||||||||||||||||||
| 275 |
5.500%, 7/01/16 – AGM Insured |
No Opt. Call | AA– | 309,771 | ||||||||||||||
| 1,490 |
5.500%, 7/01/17 – AGM Insured |
No Opt. Call | AA– | 1,715,288 | ||||||||||||||
| 980 |
5.500%, 7/01/19 – AGM Insured |
No Opt. Call | AA– | 1,150,667 | ||||||||||||||
| 4,300 |
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/29 – FGIC Insured |
No Opt. Call | Baa1 | 4,748,059 | ||||||||||||||
| 1,000 |
Quincy, Massachusetts, General Obligation Bonds, Series 2011, 5.125%, 12/01/33 |
12/20 at 100.00 | Aa2 | 1,191,640 | ||||||||||||||
| 690 |
Westfield, Massachusetts, General Obligation Bonds, Series 2004, 5.000%, 8/01/19 – AMBAC Insured |
8/14 at 100.50 | A+ | 739,970 | ||||||||||||||
| Nuveen Investments | 59 |
Portfolio of Investments (Unaudited)
Nuveen Massachusetts Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
| $ | 120 |
Worcester, Massachusetts, General Obligation Bonds, Series 2001A, 5.500%, 8/15/18 – FGIC Insured |
2/13 at 100.00 | Aa3 | $ | 120,415 | ||||||||||||
| 16,180 |
Total Tax Obligation/General |
18,439,282 | ||||||||||||||||
|
Tax Obligation/Limited – 12.8% |
||||||||||||||||||
| 800 |
Government of Guam, Business Privilege Tax Bonds, Series 2012B-1, 5.000%, 1/01/37 |
1/22 at 100.00 | A | 908,344 | ||||||||||||||
| 680 |
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2002, 5.000%, 5/01/32 – AMBAC Insured |
5/13 at 100.00 | A– | 691,669 | ||||||||||||||
| 395 |
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2004, 5.000%, 5/01/26 – AMBAC Insured |
5/14 at 100.00 | A– | 417,088 | ||||||||||||||
| 2,500 |
Massachusetts College Building Authority, Project Revenue Bonds, Series 2008A, 5.000%, 5/01/33 – AGC Insured |
5/18 at 100.00 | Aa2 | 2,897,975 | ||||||||||||||
|
Massachusetts College Building Authority, Project Revenue Refunding Bonds, Series 2003B: |
||||||||||||||||||
| 2,025 |
5.375%, 5/01/22 – SYNCORA GTY Insured |
No Opt. Call | Aa2 | 2,637,178 | ||||||||||||||
| 1,125 |
5.375%, 5/01/23 – SYNCORA GTY Insured |
No Opt. Call | Aa2 | 1,474,560 | ||||||||||||||
| 1,145 |
Massachusetts College Building Authority, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/01/37 |
5/22 at 100.00 | AA | 1,369,557 | ||||||||||||||
| 1,350 |
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2007A, 5.000%, 8/15/22 – AMBAC Insured |
8/17 at 100.00 | AA+ | 1,603,274 | ||||||||||||||
| 2,000 |
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2011B, 5.000%, 10/15/41 |
10/21 at 100.00 | AA+ | 2,396,580 | ||||||||||||||
| 1,130 |
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2005, 5.000%, 1/01/20 – FGIC Insured |
No Opt. Call | A1 | 1,375,832 | ||||||||||||||
| 1,650 |
Massachusetts, Special Obligation Refunding Notes, Federal Highway Grant Anticipation Note Program, Series 2003A, 5.000%, 12/15/13 – AGM Insured |
No Opt. Call | AAA | 1,731,972 | ||||||||||||||
| 475 |
Puerto Rico Convention Center District Authority, Hotel Occupancy Tax Revenue Bonds, Series 2006A, 4.500%, 7/01/36 – CIFG Insured |
7/16 at 100.00 | BBB+ | 478,344 | ||||||||||||||
| 1,650 |
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2004J, 5.000%, 7/01/18 – NPFG Insured |
7/14 at 100.00 | Baa1 | 1,709,153 | ||||||||||||||
| 3,000 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42 |
8/19 at 100.00 | A+ | 3,407,190 | ||||||||||||||
| 5,000 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.500%, 8/01/37 |
2/20 at 100.00 | A+ | 5,477,849 | ||||||||||||||
| 1,000 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2011A-1, 5.000%, 8/01/43 |
8/21 at 100.00 | A+ | 1,063,180 | ||||||||||||||
| 1,650 |
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series 2012A, 5.000%, 10/01/32 |
10/22 at 100.00 | BBB+ | 1,856,580 | ||||||||||||||
| 27,575 |
Total Tax Obligation/Limited |
31,496,325 | ||||||||||||||||
|
Transportation – 7.4% |
||||||||||||||||||
| 1,765 |
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Senior Lien Series 2010B, 5.000%, 1/01/32 |
1/20 at 100.00 | A+ | 2,038,098 | ||||||||||||||
| 2,000 |
Massachusetts Port Authority, Airport System Revenue Bonds, Series 2010A, 5.000%, 7/01/30 |
7/20 at 100.00 | AA | 2,469,940 | ||||||||||||||
| 1,000 |
Massachusetts Port Authority, Revenue Bonds, Series 2003C, 5.000%, 7/01/18 – NPFG Insured |
7/13 at 100.00 | AA | 1,027,980 | ||||||||||||||
| 1,650 |
Massachusetts Port Authority, Revenue Bonds, Series 2012A, 5.000%, 7/01/42 (Alternative Minimum Tax) |
7/22 at 100.00 | AA | 1,894,217 | ||||||||||||||
| 2,600 |
Massachusetts Port Authority, Special Facilities Revenue Bonds, BOSFUEL Corporation, Series 2007, 5.000%, 7/01/32 – FGIC Insured (Alternative Minimum Tax) |
7/17 at 100.00 | A2 | 2,750,852 | ||||||||||||||
| 60 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Transportation (continued) |
||||||||||||||||||
| $ | 500 |
Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project, Series 2011A, 5.125%, 7/01/41 |
7/21 at 100.00 | A | $ | 574,380 | ||||||||||||
| 4,055 |
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A, 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) |
1/13 at 100.00 | N/R | 4,060,231 | ||||||||||||||
| 820 |
Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Senior Lien Parking Revenue Bonds, Series 2011, 5.000%, 7/01/41 |
7/21 at 100.00 | A+ | 931,676 | ||||||||||||||
| 2,250 |
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/32 – AGM Insured |
7/15 at 100.00 | AA– | 2,489,850 | ||||||||||||||
| 16,640 |
Total Transportation |
18,237,224 | ||||||||||||||||
|
U.S. Guaranteed – 6.8% (6) |
||||||||||||||||||
| 850 |
Beverly, Massachusetts, General Obligation Bonds, Series 2003, 5.000%, 11/01/21 (Pre-refunded 11/01/13) – NPFG Insured |
11/13 at 100.00 | Aa2 (6) | 887,120 | ||||||||||||||
|
Fall River, Massachusetts, General Obligation Bonds, Series 2003: |
||||||||||||||||||
| 625 |
5.250%, 2/01/17 (Pre-refunded 2/01/13) – AGM Insured |
2/13 at 101.00 | AA– (6) | 636,606 | ||||||||||||||
| 370 |
5.000%, 2/01/21 (Pre-refunded 2/01/13) – AGM Insured |
2/13 at 101.00 | AA– (6) | 376,716 | ||||||||||||||
| 1,115 |
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds, Series 1991A, 7.000%, 3/01/21 (Pre-refunded 3/01/17) |
3/17 at 100.00 | N/R (6) | 1,269,249 | ||||||||||||||
| 75 |
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2006C, 5.000%, 7/01/26 (Pre-refunded 7/01/18) |
7/18 at 100.00 | AAA | 92,892 | ||||||||||||||
| 1,375 |
Massachusetts College Building Authority, Project Revenue Bonds, Series 2006A, 5.000%, 5/01/31 (Pre-refunded 5/01/16) – AMBAC Insured |
5/16 at 100.00 | Aa2 (6) | 1,582,240 | ||||||||||||||
| 2,500 |
Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, SEMass System, Series 2001A, 5.625%, 1/01/16 (Pre-refunded 1/01/13) – NPFG Insured |
1/13 at 100.00 | BBB (6) | 2,511,400 | ||||||||||||||
| 50 |
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy and Allied Health Sciences, Series 2003C, 6.375%, 7/01/23 (Pre-refunded 7/01/13) |
7/13 at 101.00 | A (6) | 52,290 | ||||||||||||||
| 750 |
Massachusetts Development Finance Authority, Revenue Bonds, Milton Academy, Series 2003A, 5.000%, 9/01/19 (Pre-refunded 9/01/13) |
9/13 at 100.00 | AA– (6) | 776,415 | ||||||||||||||
| 295 |
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 1998A, 5.000%, 7/01/25 (Pre-refunded 7/01/21) – NPFG Insured |
7/21 at 100.00 | BBB (6) | 366,337 | ||||||||||||||
| 100 |
Massachusetts Port Authority, Revenue Bonds, Series 1982, 13.000%, 7/01/13 (ETM) |
1/13 at 100.00 | AAA | 106,764 | ||||||||||||||
| 3,835 |
Massachusetts Port Authority, Revenue Bonds, Series 2003A, 5.000%, 7/01/24 (Pre-refunded 7/01/13) – NPFG Insured |
7/13 at 100.00 | AA (6) | 3,941,498 | ||||||||||||||
| 3,200 |
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A, 5.000%, 8/15/20 (Pre-refunded 8/15/15) – AGM Insured |
8/15 at 100.00 | AA+ (6) | 3,596,832 | ||||||||||||||
| 350 |
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2004J, 5.000%, 7/01/18 (Pre-refunded 7/01/14) |
7/14 at 100.00 | Baa1 (6) | 376,096 | ||||||||||||||
| 15,490 |
Total U.S. Guaranteed |
16,572,455 | ||||||||||||||||
|
Utilities – 3.0% |
||||||||||||||||||
| 1,435 |
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured |
10/20 at 100.00 | AA– | 1,568,484 | ||||||||||||||
| 1,560 |
Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012B, 4.875%, 11/01/42 |
11/17 at 100.00 | BB+ | 1,597,253 | ||||||||||||||
| 500 |
Massachusetts Development Finance Agency, Solid Waste Disposal Revenue Bonds, Dominion Energy Brayton Point Project, Refunding Series 2009, 5.750%, 12/01/42 (Mandatory put 5/01/19) |
No Opt. Call | A– | 619,940 | ||||||||||||||
| Nuveen Investments | 61 |
Portfolio of Investments (Unaudited)
Nuveen Massachusetts Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Utilities (continued) |
||||||||||||||||||
| $ | 485 |
Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding Series 2012A, 5.000%, 7/01/42 |
7/22 at 100.00 | BBB+ | $ | 496,296 | ||||||||||||
| 2,900 |
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004PP, 5.000%, 7/01/22 – FGIC Insured |
7/14 at 100.00 | BBB+ | 3,043,260 | ||||||||||||||
| 6,880 |
Total Utilities |
7,325,233 | ||||||||||||||||
|
Water and Sewer – 8.4% |
||||||||||||||||||
| 1,700 |
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.375%, 11/01/39 – AGM Insured |
11/19 at 100.00 | AA– | 1,985,804 | ||||||||||||||
| 1,000 |
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Lien Refunding Series 2010A, 5.000%, 11/01/30 |
11/19 at 100.00 | AA | 1,214,910 | ||||||||||||||
| 60 |
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2003-9, 5.000%, 8/01/22 |
8/13 at 100.00 | AAA | 61,858 | ||||||||||||||
| 380 |
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2004-10, 5.000%, 8/01/26 |
8/14 at 100.00 | AAA | 406,779 | ||||||||||||||
| 1,000 |
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2002J, 5.250%, 8/01/19 – AGM Insured |
No Opt. Call | AA+ | 1,269,320 | ||||||||||||||
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2005A: |
||||||||||||||||||
| 1,650 |
5.000%, 8/01/27 – NPFG Insured |
8/17 at 100.00 | AA+ | 1,931,820 | ||||||||||||||
| 750 |
5.000%, 8/01/28 – NPFG Insured |
8/17 at 100.00 | AA+ | 875,535 | ||||||||||||||
| 2,080 |
5.000%, 8/01/29 – NPFG Insured |
8/17 at 100.00 | AA+ | 2,428,150 | ||||||||||||||
| 2,500 |
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2005B, 5.000%, 8/01/35 – NPFG Insured |
8/17 at 100.00 | AA+ | 2,918,450 | ||||||||||||||
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A: |
||||||||||||||||||
| 1,500 |
5.000%, 8/01/31 – AMBAC Insured |
8/16 at 100.00 | AA+ | 1,705,560 | ||||||||||||||
| 2,000 |
4.000%, 8/01/46 |
8/16 at 100.00 | AA+ | 2,084,220 | ||||||||||||||
| 760 |
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 805,904 | ||||||||||||||
| 1,500 |
Springfield Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 – AGC Insured |
11/20 at 100.00 | AA– | 1,804,470 | ||||||||||||||
| 1,000 |
Springfield Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Series 2003A, 5.000%, 7/01/23 – NPFG Insured |
7/14 at 100.00 | A+ | 1,061,640 | ||||||||||||||
| 17,880 |
Total Water and Sewer |
20,554,420 | ||||||||||||||||
| $ | 215,573 |
Total Investments (cost $212,705,368) – 95.7% |
234,694,265 | |||||||||||||||
|
Other Assets Less Liabilities – 4.3% |
10,665,449 | |||||||||||||||||
|
Net Assets – 100% |
$ | 245,359,714 | ||||||||||||||||
Fair Value Measurements
Fair value is defined as the price that the Funds 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). |
| 62 | Nuveen 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 |
$ | — | $ | 234,694,265 | $ | — | $ | 234,694,265 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments was $212,509,938.
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 22,738,226 | ||
|
Depreciation |
(553,899 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 22,184,327 |
| Nuveen Investments | 63 |
Portfolio of Investments (Unaudited)
Nuveen Massachusetts Municipal Bond Fund (continued)
November 30, 2012
| (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) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
| (5) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
| (6) | 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. |
| N/R | Not rated. |
| WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
| (ETM) | Escrowed to maturity. |
| (IF) | Inverse floating rate investment. |
| 64 | Nuveen Investments |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Discretionary – 0.1% |
||||||||||||||||||
|
Middlesex County Improvement Authority, New Jersey, Senior Revenue Bonds, Heldrich Center Hotel/Conference Center Project, Series 2005A: |
||||||||||||||||||
| $ | 280 |
5.000%, 1/01/32 |
1/15 at 100.00 | B3 | $ | 184,509 | ||||||||||||
| 240 |
5.125%, 1/01/37 |
1/15 at 100.00 | B3 | 158,302 | ||||||||||||||
| 520 |
Total Consumer Discretionary |
342,811 | ||||||||||||||||
|
Consumer Staples – 3.8% |
||||||||||||||||||
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A: |
||||||||||||||||||
| 4,215 |
4.500%, 6/01/23 |
6/17 at 100.00 | B1 | 4,194,094 | ||||||||||||||
| 7,030 |
4.750%, 6/01/34 |
6/17 at 100.00 | B2 | 6,320,743 | ||||||||||||||
| 1,715 |
5.000%, 6/01/41 |
6/17 at 100.00 | B2 | 1,551,286 | ||||||||||||||
| 12,960 |
Total Consumer Staples |
12,066,123 | ||||||||||||||||
|
Education and Civic Organizations – 10.7% |
||||||||||||||||||
| 2,000 |
District of Columbia, Revenue Bonds, National Public Radio, Series 2010A, 5.000%, 4/01/43 |
4/15 at 100.00 | AA– | 2,154,560 | ||||||||||||||
| 375 |
New Jersey Economic Development Authority, Revenue Bonds, The Seeing Eye Inc., Series 2005, 5.000%, 12/01/24 – AMBAC Insured |
6/15 at 100.00 | N/R | 399,979 | ||||||||||||||
| 2,500 |
New Jersey Educational Facilities Authority, Revenue Bonds, Fairleigh Dickinson University, Series 2002D, 5.250%, 7/01/32 – ACA Insured |
7/13 at 100.00 | BBB | 2,522,175 | ||||||||||||||
| 1,000 |
New Jersey Educational Facilities Authority, Revenue Bonds, Fairleigh Dickinson University, Series 2004C, 5.500%, 7/01/23 |
7/14 at 100.00 | BBB | 1,035,420 | ||||||||||||||
| 1,495 |
New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Series 2007D, 5.000%, 7/01/32 – FGIC Insured |
7/17 at 100.00 | A2 | 1,685,687 | ||||||||||||||
| 45 |
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2004L, 5.125%, 7/01/21 – NPFG Insured |
7/14 at 100.00 | AA– | 48,128 | ||||||||||||||
| 1,400 |
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2005F, 5.000%, 7/01/16 – FGIC Insured |
7/15 at 100.00 | A1 | 1,542,408 | ||||||||||||||
| 1,035 |
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2006A, 5.000%, 7/01/36 – AMBAC Insured |
7/16 at 100.00 | AA– | 1,148,747 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Bonds, Princeton University, Series 2005A: |
||||||||||||||||||
| 465 |
5.000%, 7/01/23 |
7/15 at 100.00 | AAA | 515,518 | ||||||||||||||
| 465 |
5.000%, 7/01/24 |
7/15 at 100.00 | AAA | 515,518 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Bonds, Ramapo College, Series 2012B: |
||||||||||||||||||
| 450 |
5.000%, 7/01/37 |
7/22 at 100.00 | A | 524,282 | ||||||||||||||
| 100 |
5.000%, 7/01/42 |
7/22 at 100.00 | A | 116,961 | ||||||||||||||
| 2,000 |
New Jersey Educational Facilities Authority, Revenue Bonds, Richard Stockton College of New Jersey, Refunding Series 2008A, 5.375%, 7/01/38 |
7/18 at 100.00 | A+ | 2,332,600 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2012A: |
||||||||||||||||||
| 350 |
5.000%, 7/01/32 |
7/21 at 100.00 | BBB+ | 396,823 | ||||||||||||||
| 230 |
5.000%, 7/01/37 |
7/21 at 100.00 | BBB+ | 257,287 | ||||||||||||||
| 500 |
New Jersey Educational Facilities Authority, Revenue Bonds, Rowan College, Series 2007B, 4.250%, 7/01/34 – FGIC Insured |
7/17 at 100.00 | A+ | 524,045 | ||||||||||||||
| 1,840 |
New Jersey Educational Facilities Authority, Revenue Refunding Bonds, Kean University, Series 2009A, 5.500%, 9/01/36 – AGC Insured |
9/19 at 100.00 | AA– | 2,161,595 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Refunding Bonds, University of Medicine and Dentistry of New Jersey, Series 2009B: |
||||||||||||||||||
| 500 |
6.000%, 12/01/16 |
No Opt. Call | 586,800 | |||||||||||||||
| 2,500 |
7.500%, 12/01/32 |
6/19 at 100.00 | A– | 3,203,550 | ||||||||||||||
| 4,000 |
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2008A, 6.125%, 6/01/30 – AGC Insured (Alternative Minimum Tax) |
6/18 at 100.00 | AA– | 4,535,320 | ||||||||||||||
| Nuveen Investments | 65 |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 630 |
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-1A, 5.000%, 12/01/25 |
12/19 at 100.00 | AA | $ | 711,043 | ||||||||||||
| 510 |
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-2, 5.000%, 12/01/30 |
12/20 at 100.00 | Aa3 | 580,732 | ||||||||||||||
| 2,125 |
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2012-1A, 4.375%, 12/01/26 (Alternative Minimum Tax) |
12/22 at 100.00 | AA | 2,285,055 | ||||||||||||||
| 1,425 |
New Jersey Institute of Technology, New Jersey, General Obligation Bonds, Series 2012A, 5.000%, 7/01/42 |
7/22 at 100.00 | A+ | 1,675,800 | ||||||||||||||
| 550 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Ana G. Mendez University System Project, Refunding Series 2012, 5.125%, 4/01/32 |
4/22 at 100.00 | BBB– | 567,468 | ||||||||||||||
| 150 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Bonds, Inter-American University of Puerto Rico Project, Refunding Series 2012, 5.000%, 10/01/31 |
10/22 at 100.00 | A– | 169,715 | ||||||||||||||
| 1,500 |
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Higher Education Revenue Refunding Bonds, Ana G. Mendez University System, Series 2002, 5.500%, 12/01/31 |
12/13 at 100.00 | BBB– | 1,512,060 | ||||||||||||||
| 30,140 |
Total Education and Civic Organizations |
33,709,276 | ||||||||||||||||
|
Financials – 0.6% |
||||||||||||||||||
| 750 |
New Jersey Economic Development Authority, Industrial Development Revenue Refunding Bonds, Newark Airport Marriott Hotel, Series 1996, 7.000%, 10/01/14 |
4/13 at 100.00 | Baa3 | 753,803 | ||||||||||||||
| 1,000 |
New Jersey Economic Development Authority, Revenue Refunding Bonds, Kapkowski Road Landfill Project, Series 2002, 5.750%, 10/01/21 |
No Opt. Call | Ba2 | 1,122,790 | ||||||||||||||
| 1,750 |
Total Financials |
1,876,593 | ||||||||||||||||
|
Health Care – 17.8% |
||||||||||||||||||
| 2,530 |
Camden County Improvement Authority, New Jersey, Healthcare Revenue Bonds, Cooper Health System, Series 2005B, 5.250%, 2/15/27 |
2/15 at 100.00 | BBB | 2,681,572 | ||||||||||||||
| 350 |
Camden County Improvement Authority, New Jersey, Revenue Bonds, Cooper Health System, Series 2004A, 5.750%, 2/15/34 |
8/14 at 100.00 | BBB | 363,251 | ||||||||||||||
| 2,955 |
Camden County Improvement Authority, New Jersey, Revenue Bonds, Cooper Health System, Series 2005A, 5.000%, 2/15/25 |
2/15 at 100.00 | BBB | 3,097,313 | ||||||||||||||
| 4,225 |
New Jersey Health Care Facilities Finance Authority, Revenue Bonds, AHS Hospital Corporation, Series 2008A, 5.000%, 7/01/27 |
7/18 at 100.00 | A1 | 4,678,300 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, FHA-Insured Mortgage Revenue Bonds, Jersey City Medical Center, Series 2001: |
||||||||||||||||||
| 3,080 |
5.000%, 8/01/31 – AMBAC Insured |
2/13 at 100.00 | N/R | 3,084,035 | ||||||||||||||
| 155 |
5.000%, 8/01/41 – AMBAC Insured |
2/13 at 100.00 | N/R | 155,174 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011: |
||||||||||||||||||
| 800 |
6.000%, 7/01/26 |
7/21 at 100.00 | BBB– | 943,936 | ||||||||||||||
| 75 |
6.250%, 7/01/35 |
7/21 at 100.00 | BBB– | 88,322 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue and Refunding Bonds, Barnabas Health, Series 2012A: |
||||||||||||||||||
| 360 |
5.000%, 7/01/24 (WI/DD, Settling 12/12/12) |
7/22 at 100.00 | BBB+ | 432,547 | ||||||||||||||
| 240 |
5.000%, 7/01/25 (WI/DD, Settling 12/12/12) |
7/22 at 100.00 | BBB+ | 287,014 | ||||||||||||||
| 1,160 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Atlanticare Regional Medical Center, Series 2007, 5.000%, 7/01/37 |
7/17 at 100.00 | A+ | 1,240,458 | ||||||||||||||
| 1,500 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, CentraState Medical Center, Series 2006A, 5.000%, 7/01/30 – AGC Insured |
7/17 at 100.00 | Aa3 | 1,629,960 | ||||||||||||||
| 66 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
| $ | 140 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Children’s Specialized Hospital, Series 2005A, 5.500%, 7/01/36 |
7/15 at 100.00 | BBB | $ | 144,984 | ||||||||||||
| 2,000 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Series 2006B, 5.000%, 7/01/26 |
7/16 at 100.00 | A | 2,105,040 | ||||||||||||||
| 1,710 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Hunterdon Medical Center, Series 2006, 5.125%, 7/01/35 |
7/16 at 100.00 | A | 1,793,123 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Kennedy Health System Obligated Group Issue, Refunding Series 2012: |
||||||||||||||||||
| 625 |
5.000%, 7/01/31 |
7/22 at 100.00 | A3 | 705,388 | ||||||||||||||
| 1,500 |
5.000%, 7/01/42 |
7/22 at 100.00 | A3 | 1,681,200 | ||||||||||||||
| 5,410 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Meridian Health, Series 2007-I, 5.000%, 7/01/38 – AGC Insured |
7/18 at 100.00 | AA– | 5,914,483 | ||||||||||||||
| 305 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Palisades Medical Center of New York Presbyterian Healthcare System, Series 2002, 6.625%, 7/01/31 |
7/13 at 100.00 | BB+ | 307,757 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, RWJ Health Care Corporation, Series 2005B: |
||||||||||||||||||
| 2,500 |
5.000%, 7/01/25 – RAAI Insured |
7/15 at 100.00 | N/R | 2,549,675 | ||||||||||||||
| 900 |
5.000%, 7/01/35 – RAAI Insured |
7/15 at 100.00 | N/R | 914,463 | ||||||||||||||
| 16,225 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2006B, 0.000%, 7/01/35 |
1/17 at 39.39 | BBB+ | 5,371,124 | ||||||||||||||
| 360 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.625%, 7/01/37 |
7/21 at 100.00 | BBB+ | 422,863 | ||||||||||||||
| 750 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Series 2006A, 5.000%, 7/01/29 |
1/17 at 100.00 | BBB+ | 801,750 | ||||||||||||||
| 3,050 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph’s Healthcare System Obligated Group Issue, Series 2008, 6.625%, 7/01/38 |
7/18 at 100.00 | BBB– | 3,537,238 | ||||||||||||||
| 1,315 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Shore Memorial Health System, Series 2003, 5.000%, 7/01/23 – RAAI Insured |
7/13 at 100.00 | N/R | 1,322,035 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Somerset Medical Center, Series 2003: |
||||||||||||||||||
| 1,125 |
5.500%, 7/01/23 |
7/13 at 100.00 | Ba2 | 1,134,371 | ||||||||||||||
| 1,785 |
5.500%, 7/01/33 |
7/13 at 100.00 | Ba2 | 1,795,246 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, South Jersey Hospital System, Refunding Series 2006: |
||||||||||||||||||
| 855 |
5.000%, 7/01/25 |
7/16 at 100.00 | A2 | 912,105 | ||||||||||||||
| 100 |
5.000%, 7/01/26 |
7/16 at 100.00 | A2 | 106,364 | ||||||||||||||
| 810 |
5.000%, 7/01/36 |
7/16 at 100.00 | A2 | 849,893 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds, Bayshore Community Hospital, Series 2002: |
||||||||||||||||||
| 1,710 |
5.000%, 7/01/22 – RAAI Insured |
1/13 at 100.00 | N/R | 1,710,872 | ||||||||||||||
| 1,000 |
5.125%, 7/01/32 – RAAI Insured |
1/13 at 100.00 | N/R | 1,000,520 | ||||||||||||||
| 2,000 |
North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/39 |
6/19 at 100.00 | AA | 2,241,620 | ||||||||||||||
| 63,605 |
Total Health Care |
56,003,996 | ||||||||||||||||
|
Housing/Multifamily – 3.3% |
||||||||||||||||||
| 1,000 |
Essex County Improvement Authority, New Jersey, FNMA Enhanced Multifamily Housing Revenue Bonds, Ballantyne House Project, Series 2002, 4.750%, 11/01/22 (Alternative Minimum Tax) |
5/13 at 100.00 | Aa1 | 1,001,450 | ||||||||||||||
|
New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A: |
||||||||||||||||||
| 2,055 |
5.750%, 6/01/31 |
6/20 at 100.00 | Baa3 | 2,369,497 | ||||||||||||||
| 1,100 |
5.875%, 6/01/42 |
6/20 at 100.00 | Baa3 | 1,252,405 | ||||||||||||||
| Nuveen Investments | 67 |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Housing/Multifamily (continued) |
||||||||||||||||||
| $ | 1,500 |
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing Revenue Bonds, Series 2000A-1, 6.350%, 11/01/31 – AGM Insured (Alternative Minimum Tax) |
3/13 at 100.00 | AA– | $ | 1,503,270 | ||||||||||||
| 530 |
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing Revenue Bonds, Series 2000E-1, 5.750%, 5/01/25 – AGM Insured |
2/13 at 100.00 | AA– | 531,171 | ||||||||||||||
| 3,000 |
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing Revenue Bonds, Series 2009A, 4.950%, 5/01/41 |
11/19 at 100.00 | A+ | 3,265,200 | ||||||||||||||
| 590 |
Newark Housing Authority, New Jersey, GNMA Collateralized Housing Revenue Bonds, Fairview Apartments Project, Series 2000A, 6.300%, 10/20/19 (Alternative Minimum Tax) |
4/13 at 100.00 | Aaa | 591,729 | ||||||||||||||
| 9,775 |
Total Housing/Multifamily |
10,514,722 | ||||||||||||||||
|
Housing/Single Family – 1.4% |
||||||||||||||||||
| 1,900 |
New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 2007T, 4.700%, 10/01/37 (Alternative Minimum Tax) |
4/17 at 100.00 | AA | 1,971,364 | ||||||||||||||
| 2,125 |
New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 2008AA, 6.375%, 10/01/28 |
10/18 at 100.00 | AA | 2,304,456 | ||||||||||||||
| 50 |
Virgin Islands Housing Finance Corporation, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Refunding Bonds, Series 1995A, 6.450%, 3/01/16 (Alternative Minimum Tax) |
3/13 at 100.00 | N/R | 50,160 | ||||||||||||||
| 4,075 |
Total Housing/Single Family |
4,325,980 | ||||||||||||||||
|
Industrials – 0.5% |
||||||||||||||||||
| 1,660 |
Gloucester County Improvement Authority, New Jersey, Solid Waste Resource Recovery Revenue Refunding Bonds, Waste Management Inc. Project, Series 1999, 2.125%, 12/01/29 (Mandatory put 12/01/17) |
No Opt. Call | BBB | 1,660,000 | ||||||||||||||
|
Long-Term Care – 2.3% |
||||||||||||||||||
| 735 |
Burlington County Bridge Commission, New Jersey, Economic Development Revenue Bonds, The Evergreens Project, Series 2007, 5.625%, 1/01/38 |
1/18 at 100.00 | N/R | 772,867 | ||||||||||||||
| 855 |
New Jersey Economic Development Authority, First Mortgage Fixed Rate Revenue Bonds, Cadbury Corporation, Series 1998A, 5.500%, 7/01/18 – ACA Insured |
1/13 at 100.00 | N/R | 855,778 | ||||||||||||||
| 1,975 |
New Jersey Economic Development Authority, First Mortgage Revenue Bonds, Winchester Gardens at Wards Homestead, Series 2004A, 5.750%, 11/01/24 |
11/14 at 100.00 | BBB– | 2,039,365 | ||||||||||||||
| 600 |
New Jersey Economic Development Authority, Revenue Bonds, Masonic Charity Foundation of New Jersey, Series 2001, 5.875%, 6/01/18 |
6/13 at 100.00 | A– | 607,674 | ||||||||||||||
| 140 |
New Jersey Economic Development Authority, Revenue Bonds, Masonic Charity Foundation of New Jersey, Series 2002, 5.250%, 6/01/32 |
6/13 at 102.00 | A– | 143,895 | ||||||||||||||
|
New Jersey Economic Development Authority, Revenue Bonds, United Methodist Homes of New Jersey Obligated Group, Series 1998: |
||||||||||||||||||
| 1,500 |
5.125%, 7/01/25 |
1/13 at 100.00 | BB+ | 1,500,660 | ||||||||||||||
| 1,150 |
6.625%, 7/01/38 |
1/14 at 100.00 | BB+ | 1,170,183 | ||||||||||||||
| 6,955 |
Total Long-Term Care |
7,090,422 | ||||||||||||||||
|
Tax Obligation/General – 7.7% |
||||||||||||||||||
| 695 |
Haddon Heights School District, Camden County, New Jersey, General Obligation Bonds, Refunding Series 2012, 3.250%, 1/01/30 |
1/23 at 100.00 | AA– | 727,602 | ||||||||||||||
|
Jefferson Township School District, Morris County, New Jersey, General Obligation Bonds, Refunding Series 2012: |
||||||||||||||||||
| 755 |
4.000%, 9/15/26 |
9/22 at 100.00 | AA– | 872,304 | ||||||||||||||
| 1,270 |
4.000%, 9/15/27 |
9/22 at 100.00 | AA– | 1,461,287 | ||||||||||||||
| 525 |
Middletown Township Board of Education, Monmouth County, New Jersey, Refunding Series 2010, 5.000%, 8/01/27 |
8/20 at 100.00 | AA | 640,836 | ||||||||||||||
| 68 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
| $ | 620 |
Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2006, 5.000%, 12/01/15 – AMBAC Insured |
No Opt. Call | N/R | $ | 675,540 | ||||||||||||
| 2,500 |
Monroe Township Board of Education, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2012, 4.000%, 8/01/24 |
8/22 at 100.00 | AA– | 2,927,250 | ||||||||||||||
| 2,750 |
Newark Housing Authority, New Jersey, City-Secured Police Facility Revenue Bonds, South Ward Police Facility, Series 2009A, 6.750%, 12/01/38 – AGC Insured |
12/19 at 100.00 | Aa3 | 3,529,130 | ||||||||||||||
|
Readington Township, New Jersey, General Obligation Bonds, General Improvement Series 2011: |
||||||||||||||||||
| 875 |
5.125%, 1/15/28 |
1/21 at 100.00 | AA | 1,037,619 | ||||||||||||||
| 875 |
5.250%, 1/15/30 |
1/21 at 100.00 | AA | 1,042,055 | ||||||||||||||
|
South Brunswick Township Board of Education, Middlesex County, New Jersey, General Obligation Bonds, Refunding Series 2012: |
||||||||||||||||||
| 500 |
4.000%, 12/01/22 |
6/22 at 100.00 | AA | 600,715 | ||||||||||||||
| 450 |
4.000%, 12/01/23 |
6/22 at 100.00 | AA | 533,183 | ||||||||||||||
| 305 |
4.000%, 12/01/24 |
6/22 at 100.00 | AA | 359,488 | ||||||||||||||
| 3,685 |
Union County Utilities Authority, New Jersey, Resource Recovery Facility Lease Revenue Refunding Bonds, Covantan Union Inc. Lessee, Series 2011B, 5.250%, 12/01/31 (Alternative Minimum Tax) |
12/21 at 100.00 | AA+ | 4,229,901 | ||||||||||||||
| 2,515 |
Union County Utilities Authority, New Jersey, Solid Waste System County Deficiency Revenue Bonds, Series 2011, 5.000%, 6/15/41 |
6/21 at 100.00 | AA+ | 2,967,247 | ||||||||||||||
| 300 |
Upper Freehold Township, New Jersey, General Obligation Bonds, Series 2012, 3.000%, 12/15/14 |
No Opt. Call | AA | 312,330 | ||||||||||||||
| 2,110 |
Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, Series 2005, 5.000%, 1/01/21 – AGM Insured |
1/16 at 100.00 | Aa3 | 2,368,918 | ||||||||||||||
| 20,730 |
Total Tax Obligation/General |
24,285,405 | ||||||||||||||||
|
Tax Obligation/Limited – 24.0% |
||||||||||||||||||
| 650 |
Bergen County Improvement Authority, New Jersey, Guaranteed Lease Revenue Bonds, County Administration Complex Project, Series 2005, 5.000%, 11/15/26 |
No Opt. Call | Aaa | 897,858 | ||||||||||||||
|
Burlington County Bridge Commission, New Jersey, Guaranteed Pooled Loan Bonds, Series 2003: |
||||||||||||||||||
| 1,000 |
5.000%, 12/01/20 – NPFG Insured |
12/13 at 100.00 | AA | 1,045,770 | ||||||||||||||
| 695 |
5.000%, 12/01/21 – NPFG Insured |
12/13 at 100.00 | AA | 726,810 | ||||||||||||||
| 825 |
Essex County Improvement Authority, New Jersey, Project Consolidation Revenue Bonds, Series 2007, 5.250%, 12/15/22 – AMBAC Insured |
No Opt. Call | Aa2 | 1,062,625 | ||||||||||||||
| 2,300 |
Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2005A, 5.750%, 11/01/28 – AGM Insured |
No Opt. Call | AAA | 3,206,085 | ||||||||||||||
| 900 |
Garden State Preservation Trust, New Jersey, Open Space and Farmland Preservation Bonds, Series 2005C, 5.125%, 11/01/18 – AGM Insured |
No Opt. Call | AAA | 1,119,591 | ||||||||||||||
| 1,395 |
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.250%, 1/01/36 |
1/22 at 100.00 | A | 1,614,726 | ||||||||||||||
|
Hudson County Improvement Authority, New Jersey, County Secured Lease Revenue Bonds, County Services Building Project, Series 2005: |
||||||||||||||||||
| 395 |
5.000%, 4/01/25 – AMBAC Insured |
4/15 at 100.00 | AA– | 429,977 | ||||||||||||||
| 920 |
5.000%, 4/01/35 – AMBAC Insured |
4/15 at 100.00 | AA– | 986,700 | ||||||||||||||
| 2,255 |
New Jersey Building Authority, State Building Revenue Bonds, Series 2007A, 5.000%, 6/15/27 |
6/16 at 100.00 | A+ | 2,527,630 | ||||||||||||||
|
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: |
||||||||||||||||||
| 1,100 |
5.000%, 6/15/19 |
No Opt. Call | BBB+ | 1,289,178 | ||||||||||||||
| 700 |
5.000%, 6/15/21 |
No Opt. Call | BBB+ | 835,744 | ||||||||||||||
| 1,600 |
5.000%, 6/15/25 |
6/22 at 100.00 | BBB+ | 1,878,448 | ||||||||||||||
| 1,000 |
New Jersey Economic Development Authority, Lease Revenue Bonds, Liberty State Park Project, Series 2005C, 5.000%, 3/01/27 – AGM Insured |
3/15 at 100.00 | AA– | 1,081,050 | ||||||||||||||
| Nuveen Investments | 69 |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
|
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series 2004A: |
||||||||||||||||||
| $ | 2,600 |
5.250%, 7/01/15 – NPFG Insured |
7/14 at 100.00 | A | $ | 2,796,144 | ||||||||||||
| 1,000 |
5.000%, 7/01/29 – NPFG Insured |
7/14 at 100.00 | A | 1,059,510 | ||||||||||||||
|
New Jersey Economic Development Authority, Revenue Bonds, Newark Downtown District Management Corporation Project, Series 2007: |
||||||||||||||||||
| 85 |
5.125%, 6/15/27 |
6/17 at 100.00 | Baa3 | 91,047 | ||||||||||||||
| 145 |
5.125%, 6/15/37 |
6/17 at 100.00 | Baa3 | 152,572 | ||||||||||||||
| 830 |
New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2007U, 5.000%, 9/01/37 – AMBAC Insured |
9/17 at 100.00 | A+ | 916,220 | ||||||||||||||
| 700 |
New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund, Refunding Series 2005A, 5.000%, 9/01/15 – AGM Insured |
No Opt. Call | AA– | 779,513 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, Lease Revenue Bonds, Department of Human Services – Greystone Park Psychiatric Hospital, Series 2005: |
||||||||||||||||||
| 1,050 |
5.000%, 9/15/18 – AMBAC Insured |
9/15 at 100.00 | A+ | 1,152,207 | ||||||||||||||
| 1,875 |
5.000%, 9/15/24 – AMBAC Insured |
9/15 at 100.00 | A+ | 2,018,981 | ||||||||||||||
| 4,495 |
5.000%, 9/15/26 – AMBAC Insured |
9/15 at 100.00 | A+ | 4,840,171 | ||||||||||||||
| 1,325 |
5.000%, 9/15/28 – AMBAC Insured |
9/15 at 100.00 | A+ | 1,433,677 | ||||||||||||||
|
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformatiom Program, Series 2008A: |
||||||||||||||||||
| 3,145 |
5.000%, 10/01/28 |
10/18 at 100.00 | A+ | 3,523,123 | ||||||||||||||
| 1,950 |
5.250%, 10/01/38 |
10/18 at 100.00 | A+ | 2,171,618 | ||||||||||||||
| 2,000 |
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset Transformatiom Program, Series 2009A, 5.750%, 10/01/31 |
10/19 at 100.00 | A+ | 2,391,480 | ||||||||||||||
|
New Jersey Transportation Trust Fund Authority, Federal Highway Aid Grant Anticipation Bonds, Series 2006: |
||||||||||||||||||
| 695 |
5.000%, 6/15/17 – FGIC Insured |
6/16 at 100.00 | A1 | 794,628 | ||||||||||||||
| 1,000 |
5.000%, 6/15/18 – FGIC Insured |
6/16 at 100.00 | A1 | 1,139,220 | ||||||||||||||
| 14,635 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/30 |
No Opt. Call | A+ | 7,207,006 | ||||||||||||||
| 1,900 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.500%, 12/15/22 |
No Opt. Call | A+ | 2,490,140 | ||||||||||||||
| 1,500 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2004B, 5.500%, 12/15/16 – NPFG Insured |
No Opt. Call | A+ | 1,771,875 | ||||||||||||||
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C: |
||||||||||||||||||
| 4,000 |
0.000%, 12/15/32 – AGM Insured |
No Opt. Call | AA– | 1,789,120 | ||||||||||||||
| 4,000 |
0.000%, 12/15/33 – AGM Insured |
No Opt. Call | AA– | 1,701,120 | ||||||||||||||
| 5,450 |
0.000%, 12/15/34 – AGM Insured |
No Opt. Call | AA– | 2,196,841 | ||||||||||||||
| 500 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2007A, 5.000%, 12/15/26 – AMBAC Insured |
12/17 at 100.00 | A+ | 581,365 | ||||||||||||||
| 5,500 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009A, 0.000%, 12/15/39 |
No Opt. Call | A+ | 1,611,720 | ||||||||||||||
| 2,750 |
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 5.000%, 12/15/24 |
No Opt. Call | A+ | 3,460,050 | ||||||||||||||
|
Passaic County Improvement Authority, New Jersey, Lease Revenue Bonds, Preakness Healthcare Center Expansion Project, Series 2012: |
||||||||||||||||||
| 1,465 |
5.000%, 5/01/21 |
No Opt. Call | Aa3 | 1,800,793 | ||||||||||||||
| 2,000 |
3.500%, 5/01/35 |
5/22 at 100.00 | Aa3 | 2,050,880 | ||||||||||||||
| 485 |
Puerto Rico Convention Center District Authority, Hotel Occupancy Tax Revenue Bonds, Series 2006A, 4.500%, 7/01/36 – CIFG Insured |
7/16 at 100.00 | BBB+ | 488,414 | ||||||||||||||
| 70 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 2,000 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42 |
8/19 at 100.00 | A+ | $ | 2,271,460 | ||||||||||||
| 1,495 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010A, 5.500%, 8/01/42 |
2/20 at 100.00 | A+ | 1,622,344 | ||||||||||||||
| 450 |
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 5.250%, 8/01/57 |
8/17 at 100.00 | AA– | 482,468 | ||||||||||||||
| 86,760 |
Total Tax Obligation/Limited |
75,487,899 | ||||||||||||||||
|
Transportation – 13.8% |
||||||||||||||||||
|
Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2005: |
||||||||||||||||||
| 1,335 |
5.000%, 1/01/26 – NPFG Insured |
1/15 at 100.00 | A1 | 1,433,590 | ||||||||||||||
| 500 |
5.000%, 1/01/27 – NPFG Insured |
1/15 at 100.00 | A1 | 535,965 | ||||||||||||||
| 1,600 |
Delaware River and Bay Authority, Delaware and New Jersey, Revenue Bonds, Series 2012A, 5.000%, 1/01/42 |
1/23 at 100.00 | A1 | 1,905,088 | ||||||||||||||
|
Delaware River Joint Toll Bridge Commission, Pennsylvania, Revenue Bonds, Refunding Series 2012A: |
||||||||||||||||||
| 500 |
5.000%, 7/01/26 |
7/22 at 100.00 | A2 | 612,160 | ||||||||||||||
| 350 |
4.000%, 7/01/27 |
7/22 at 100.00 | A2 | 388,042 | ||||||||||||||
| 500 |
3.000%, 7/01/28 |
7/22 at 100.00 | A2 | 504,525 | ||||||||||||||
| 570 |
New Brunswick Parking Authority, Middlesex County, New Jersey, Guaranteed Parking Revenue Bonds, Refunding Series 2012, 5.000%, 9/01/30 |
9/22 at 100.00 | A+ | 680,381 | ||||||||||||||
| 400 |
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 5.125%, 9/15/23 (Alternative Minimum Tax) |
3/13 at 100.00 | B | 410,652 | ||||||||||||||
| 800 |
New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 5.250%, 9/15/29 (Alternative Minimum Tax) |
9/22 at 101.00 | B | 826,056 | ||||||||||||||
| 1,295 |
New Jersey Transit Corporation, Certificates of Participation, Federal Transit Administration Grants, Series 2005A, 5.000%, 9/15/18 – FGIC Insured |
9/15 at 100.00 | A2 | 1,417,313 | ||||||||||||||
|
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C: |
||||||||||||||||||
| 40 |
6.500%, 1/01/16 |
No Opt. Call | A3 | 46,596 | ||||||||||||||
| 320 |
6.500%, 1/01/16 – NPFG Insured |
No Opt. Call | A+ | 372,765 | ||||||||||||||
| 1,300 |
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.250%, 1/01/29 – AGM Insured |
No Opt. Call | AA– | 1,767,974 | ||||||||||||||
| 3,500 |
New Jersey Turnpike Authority, Revenue Bonds, Series 2009I, 5.000%, 1/01/35 |
1/20 at 100.00 | A+ | 4,026,890 | ||||||||||||||
| 2,380 |
New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/28 |
1/23 at 100.00 | A+ | 2,901,553 | ||||||||||||||
| 900 |
Passaic County Improvement Authority, New Jersey, County Guaranteed Parking Revenue Bonds, 200 Hospital Plaza Project, Series 2010, 5.000%, 5/01/42 |
5/20 at 100.00 | Aa3 | 1,034,730 | ||||||||||||||
| 2,000 |
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fifty Third Series 2008, 5.000%, 7/15/38 |
7/18 at 100.00 | AA– | 2,254,640 | ||||||||||||||
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth Series 2005: |
||||||||||||||||||
| 2,500 |
5.000%, 12/01/28 – SYNCORA GTY Insured |
6/15 at 101.00 | AA– | 2,753,550 | ||||||||||||||
| 500 |
5.000%, 12/01/34 |
6/15 at 101.00 | AA– | 548,750 | ||||||||||||||
| 420 |
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty Eighth Series 2008, Trust 2920, 17.304%, 8/15/32 – AGM Insured (IF) |
8/17 at 100.00 | AA– | 661,937 | ||||||||||||||
| 6,000 |
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Thirty-Fourth Series 2004, 5.000%, 7/15/34 |
1/14 at 101.00 | AA– | 6,322,800 | ||||||||||||||
| Nuveen Investments | 71 |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Transportation (continued) |
||||||||||||||||||
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997: |
||||||||||||||||||
| $ | 1,000 |
7.000%, 12/01/12 – NPFG Insured (Alternative Minimum Tax) |
No Opt. Call | BBB | $ | 1,000,090 | ||||||||||||
| 2,000 |
5.750%, 12/01/22 – NPFG Insured (Alternative Minimum Tax) |
6/13 at 100.00 | BBB | 2,000,920 | ||||||||||||||
| 3,125 |
5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax) |
6/13 at 100.00 | BBB | 3,126,125 | ||||||||||||||
|
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Refunding Bonds, Series 2012Q: |
||||||||||||||||||
| 2,575 |
3.000%, 1/01/23 |
No Opt. Call | A1 | 2,711,449 | ||||||||||||||
| 870 |
3.000%, 1/01/24 |
1/23 at 100.00 | A1 | 906,584 | ||||||||||||||
| 1,810 |
South Jersey Transportation Authority, New Jersey, Transportation System Revenue Bonds, Series 2012., 5.000%, 11/01/22 |
No Opt. Call | A– | 2,238,119 | ||||||||||||||
| 39,090 |
Total Transportation |
43,389,244 | ||||||||||||||||
|
U.S. Guaranteed – 7.8% (4) |
||||||||||||||||||
| 735 |
Monmouth County Improvement Authority, New Jersey, Governmental Loan Revenue Bonds, Series 2005, 4.000%, 12/01/17 (Pre-refunded 12/01/15) – AMBAC Insured |
12/15 at 100.00 | N/R (4) | 768,156 | ||||||||||||||
|
New Jersey Economic Development Authority, Cigarette Tax Revenue Bonds, Series 2004: |
||||||||||||||||||
| 1,595 |
5.750%, 6/15/29 (Pre-refunded 6/15/14) |
6/14 at 100.00 | Aaa | 1,728,502 | ||||||||||||||
| 2,720 |
5.750%, 6/15/34 (Pre-refunded 6/15/14) |
6/14 at 100.00 | Aaa | 2,947,664 | ||||||||||||||
| 460 |
New Jersey Economic Development Authority, Revenue Bonds, Yeshiva Ktana of Passaic, Series 1993, 8.000%, 9/15/18 (ETM) |
No Opt. Call | N/R (4) | 563,762 | ||||||||||||||
| 420 |
New Jersey Educational Facilities Authority, Revenue Bonds, Kean University, Series 2005B, 5.000%, 7/01/30 (Pre-refunded 7/01/16) – NPFG Insured |
7/16 at 100.00 | A– (4) | 486,032 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University, Series 2005F: |
||||||||||||||||||
| 1,825 |
5.000%, 7/01/24 (Pre-refunded 7/01/15) – FGIC Insured |
7/15 at 100.00 | A1 (4) | 2,036,499 | ||||||||||||||
| 525 |
5.000%, 7/01/32 (Pre-refunded 7/01/15) – FGIC Insured |
7/15 at 100.00 | A1 (4) | 585,842 | ||||||||||||||
|
New Jersey Educational Facilities Authority, Revenue Bonds, New Jersey Institute of Technology, Series 2004B: |
||||||||||||||||||
| 125 |
5.000%, 7/01/18 (Pre-refunded 1/01/14) – AMBAC Insured |
1/14 at 100.00 | A+ (4) | 131,260 | ||||||||||||||
| 265 |
5.000%, 7/01/19 (Pre-refunded 1/01/14) – AMBAC Insured |
1/14 at 100.00 | A+ (4) | 278,271 | ||||||||||||||
| 815 |
4.250%, 7/01/24 (Pre-refunded 1/01/14) – AMBAC Insured |
1/14 at 100.00 | A+ (4) | 849,197 | ||||||||||||||
| 290 |
New Jersey Educational Facilities Authority, Revenue Bonds, Rider University, Series 2004A, 5.500%, 7/01/23 (Pre-refunded 7/01/14) – RAAI Insured |
7/14 at 100.00 | BBB+ (4) | 313,432 | ||||||||||||||
| 500 |
New Jersey Educational Facilities Authority, Revenue Bonds, Rowan University, Series 2003I, 5.125%, 7/01/21 (Pre-refunded 7/01/13) – FGIC Insured |
7/13 at 100.00 | A+ (4) | 514,100 | ||||||||||||||
| 1,195 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Capital Health System Obligated Group, Series 2003A, 5.375%, 7/01/33 (Pre-refunded 7/01/13) |
7/13 at 100.00 | N/R (4) | 1,229,727 | ||||||||||||||
| 845 |
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, St. Clare’s Hospital, Series 2004A, 5.250%, 7/01/20 – RAAI Insured (ETM) |
7/14 at 100.00 | N/R (4) | 1,079,403 | ||||||||||||||
|
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C: |
||||||||||||||||||
| 15 |
6.500%, 1/01/16 (ETM) |
No Opt. Call | A3 (4) | 17,791 | ||||||||||||||
| 165 |
6.500%, 1/01/16 – NPFG Insured (ETM) |
No Opt. Call | A3 (4) | 195,532 | ||||||||||||||
| 25 |
6.500%, 1/01/16 (ETM) |
No Opt. Call | AA+ (4) | 29,652 | ||||||||||||||
| 255 |
6.500%, 1/01/16 – NPFG Insured (ETM) |
No Opt. Call | A+ (4) | 302,445 | ||||||||||||||
| 775 |
6.500%, 1/01/16 (ETM) |
No Opt. Call | AA+ (4) | 838,744 | ||||||||||||||
| 145 |
6.500%, 1/01/16 – AMBAC Insured (ETM) |
No Opt. Call | A3 (4) | 156,926 | ||||||||||||||
| 90 |
6.500%, 1/01/16 – NPFG Insured (ETM) |
No Opt. Call | A+ (4) | 97,403 | ||||||||||||||
| 5 |
6.500%, 1/01/16 – NPFG Insured (ETM) |
No Opt. Call | A3 (4) | 5,411 | ||||||||||||||
| 3,200 |
New Jersey Turnpike Authority, Revenue Bonds, Series 2003A, 5.000%, 1/01/19 (Pre-refunded 7/01/13) – FGIC Insured |
7/13 at 100.00 | A+ (4) | 3,290,016 | ||||||||||||||
| 72 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
U.S. Guaranteed (4) (continued) |
||||||||||||||||||
| $ | 375 |
Newark Housing Authority, New Jersey, Port Authority Terminal Revenue Bonds, Series 2004, 5.250%, 1/01/21 (Pre-refunded 1/01/14) – NPFG Insured |
1/14 at 100.00 | BBB (4) | $ | 395,006 | ||||||||||||
| 4,000 |
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A, 5.125%, 6/01/24 – AMBAC Insured (ETM) |
No Opt. Call | AA+ (4) | 5,031,720 | ||||||||||||||
| 640 |
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003, 6.375%, 6/01/32 (Pre-refunded 6/01/13) |
6/13 at 100.00 | Aaa | 658,643 | ||||||||||||||
| 22,005 |
Total U.S. Guaranteed |
24,531,136 | ||||||||||||||||
|
Utilities – 0.5% |
||||||||||||||||||
| 275 |
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 |
10/22 at 100.00 | BBB | 314,205 | ||||||||||||||
| 1,195 |
New Jersey Economic Development Authority, Energy Facilities Revenue Bonds, UMM Energy Partners, LLC Project, Series 2012A, 5.125%, 6/15/43 (Alternative Minimum Tax) |
6/22 at 100.00 | Baa3 | 1,264,368 | ||||||||||||||
| 1,470 |
Total Utilities |
1,578,573 | ||||||||||||||||
|
Water and Sewer – 4.1% |
||||||||||||||||||
| 1,380 |
Bayonne Municipal Utilities Authority, New Jersey, Water System Revenue Refunding Bonds, Series 2003A, 5.000%, 4/01/18 – SYNCORA GTY Insured |
4/13 at 100.00 | N/R | 1,388,998 | ||||||||||||||
|
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, Middlesex Water Company, Series 2012C: |
||||||||||||||||||
| 1,040 |
5.000%, 10/01/23 |
No Opt. Call | A | 1,304,191 | ||||||||||||||
| 2,175 |
4.250%, 10/01/47 (Alternative Minimum Tax) |
10/22 at 100.00 | A | 2,230,506 | ||||||||||||||
| 960 |
New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc. Project, Refunding Series 2010D, 4.875%, 11/01/29 (Alternative Minimum Tax) |
11/20 at 100.00 | A | 1,072,042 | ||||||||||||||
| 1,770 |
New Jersey Environmental Infrastructure Trust, Environmental Infrastructure Bonds, Tender Option Bond Trust 4729, 7.348%, 9/01/21 (IF) (5) |
No Opt. Call | AAA | 2,548,039 | ||||||||||||||
|
North Hudson Sewerage Authority, New Jersey Gross Revenue Senior Lien Lease Certificates, Series 2012A: |
||||||||||||||||||
| 1,500 |
5.000%, 6/01/27 – NPFG Insured |
6/22 at 100.00 | A | 1,800,974 | ||||||||||||||
| 1,500 |
5.000%, 6/01/42 – NPFG Insured |
6/22 at 100.00 | A | 1,733,698 | ||||||||||||||
| 760 |
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 805,902 | ||||||||||||||
| 11,085 |
Total Water and Sewer |
12,884,350 | ||||||||||||||||
| $ | 312,580 |
Total Investments (cost $277,861,220) – 98.4% |
309,746,530 | |||||||||||||||
|
Other Assets Less Liabilities – 1.6% |
5,188,506 | |||||||||||||||||
|
Net Assets – 100% |
$ | 314,935,036 | ||||||||||||||||
Fair Value Measurements
Fair value is defined as the price that the Funds 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 | 73 |
Portfolio of Investments (Unaudited)
Nuveen New Jersey Municipal Bond Fund (continued)
November 30, 2012
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 |
$ | — | $ | 309,746,530 | $ | — | $ | 309,746,530 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments was $277,086,231.
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 32,830,292 | ||
|
Depreciation |
(169,993 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 32,660,299 |
| 74 | Nuveen Investments |
| (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) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
| N/R | Not rated. |
| WI/DD | Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. |
| (ETM) | Escrowed to maturity. |
| (IF) | Inverse floating rate investment. |
| Nuveen Investments | 75 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Consumer Discretionary – 0.1% |
||||||||||||||||||
| $ | 665 |
New York City Industrial Development Agency, New York, Liberty Revenue Bonds, IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35 |
9/15 at 100.00 | BBB– | $ | 682,150 | ||||||||||||
|
Consumer Staples – 2.3% |
||||||||||||||||||
| 465 |
New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001, 5.250%, 6/01/25 |
6/13 at 100.00 | A3 | 459,341 | ||||||||||||||
| 1,080 |
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series 2002, 5.375%, 5/15/33 |
5/13 at 100.00 | BBB+ | 1,081,220 | ||||||||||||||
| 205 |
Rensselaer Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2001A, 5.200%, 6/01/25 |
12/12 at 100.00 | A3 | 200,761 | ||||||||||||||
| 6,650 |
Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2008C, 6.625%, 6/01/44 |
6/22 at 100.00 | B+ | 6,662,369 | ||||||||||||||
|
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: |
||||||||||||||||||
| 1,890 |
4.750%, 6/01/22 |
6/16 at 100.00 | BBB | 1,903,627 | ||||||||||||||
| 1,225 |
5.000%, 6/01/26 |
6/16 at 100.00 | BB– | 1,184,600 | ||||||||||||||
| 5,410 |
5.125%, 6/01/42 |
6/16 at 100.00 | B+ | 4,569,178 | ||||||||||||||
| 1,500 |
Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note – Diageo Project, Series 2009A, 6.625%, 10/01/29 |
10/19 at 100.00 | BBB | 1,786,725 | ||||||||||||||
| 18,425 |
Total Consumer Staples |
17,847,821 | ||||||||||||||||
|
Education and Civic Organizations – 11.5% |
||||||||||||||||||
| 660 |
Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series 2007A, 5.000%, 7/01/31 |
7/17 at 100.00 | BBB | 698,148 | ||||||||||||||
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A: |
||||||||||||||||||
| 520 |
5.000%, 4/01/20 |
4/17 at 100.00 | BBB– | 537,139 | ||||||||||||||
| 1,000 |
5.000%, 4/01/27 |
4/17 at 100.00 | BBB– | 1,014,720 | ||||||||||||||
| 290 |
5.000%, 4/01/37 |
4/17 at 100.00 | BBB– | 290,539 | ||||||||||||||
| 1,000 |
Allegany County Industrial Development Agency, New York, Revenue Bonds, Alfred University, Series 1998, 5.000%, 8/01/28 – NPFG Insured |
2/13 at 100.00 | Baa1 | 1,001,540 | ||||||||||||||
| 2,190 |
Buffalo and Erie County Industrial Land Development Corporation, New York, Tax-Exempt Revenue Bonds, Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40 |
12/20 at 100.00 | BBB | 2,622,547 | ||||||||||||||
| 215 |
Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, St. Bonaventure University, Series 2006, 5.000%, 5/01/23 |
5/16 at 100.00 | BBB– | 224,808 | ||||||||||||||
| 1,750 |
Dormitory Authority of the State of New York, Brooklyn Law School Revenue Bonds, Series 2009, 5.750%, 7/01/33 |
7/19 at 100.00 | BBB+ | 2,046,450 | ||||||||||||||
|
Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series 2007A: |
||||||||||||||||||
| 2,655 |
5.000%, 7/01/32 – RAAI Insured |
7/17 at 100.00 | N/R | 2,785,573 | ||||||||||||||
| 2,820 |
5.000%, 7/01/41 – RAAI Insured |
7/17 at 100.00 | N/R | 2,927,414 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, General Revenue Bonds, New York University, Series 2001-1, 5.500%, 7/01/40 – AMBAC Insured |
No Opt. Call | AA– | 1,422,120 | ||||||||||||||
| 1,880 |
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2007A, 5.250%, 7/01/32 – NPFG Insured |
7/17 at 100.00 | A– | 2,154,442 | ||||||||||||||
|
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007: |
||||||||||||||||||
| 1,670 |
5.250%, 7/01/29 – FGIC Insured |
No Opt. Call | BBB | 2,041,241 | ||||||||||||||
| 735 |
5.250%, 7/01/34 – FGIC Insured |
No Opt. Call | BBB | 892,827 | ||||||||||||||
| 1,850 |
Dormitory Authority of the State of New York, Insured Revenue Bonds, New York Medical College, Series 1998, 5.000%, 7/01/21 – NPFG Insured |
1/13 at 100.00 | BBB | 1,856,105 | ||||||||||||||
|
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2003B: |
||||||||||||||||||
| 1,250 |
5.250%, 7/01/31 (Mandatory put 7/01/13) – FGIC Insured |
No Opt. Call | Aa2 | 1,285,863 | ||||||||||||||
| 2,000 |
5.250%, 7/01/32 (Mandatory put 7/01/13) – SYNCORA GTY Insured |
No Opt. Call | Aa2 | 2,055,940 | ||||||||||||||
| 76 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
| $ | 2,120 |
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2004A, 5.000%, 7/01/29 – NPFG Insured |
7/15 at 100.00 | Aa2 | $ | 2,312,305 | ||||||||||||
| 435 |
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A, 5.000%, 7/01/37 – FGIC Insured |
7/17 at 100.00 | BBB | 483,529 | ||||||||||||||
| 12,175 |
Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2011A, 5.000%, 10/01/41 |
4/21 at 100.00 | AAA | 14,670,630 | ||||||||||||||
| 750 |
Dormitory Authority of the State of New York, Revenue Bonds, Convent of the Sacred Heart, Series 2011, 5.625%, 11/01/32 – AGM Insured |
5/21 at 100.00 | AA– | 917,685 | ||||||||||||||
| 350 |
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.250%, 7/01/30 |
7/20 at 100.00 | A– | 406,287 | ||||||||||||||
| 585 |
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007, 5.000%, 7/01/32 – AMBAC Insured |
7/17 at 100.00 | AA– | 659,201 | ||||||||||||||
| 1,500 |
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2009B, 5.000%, 7/01/39 |
7/19 at 100.00 | AA– | 1,799,310 | ||||||||||||||
| 1,200 |
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2008C, 5.000%, 7/01/37 |
7/20 at 100.00 | Aa1 | 1,433,100 | ||||||||||||||
| 1,845 |
Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard College Project, Series 2007-A2, 4.500%, 8/01/36 |
8/17 at 100.00 | Baa1 | 1,913,689 | ||||||||||||||
| 615 |
Hempstead Town Industrial Development Agency, New York, Revenue Bonds, Adelphi University, Civic Facility Project, Series 2005, 5.000%, 10/01/35 |
10/15 at 100.00 | A | 671,931 | ||||||||||||||
| 250 |
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University Project, Series 2009B, 5.250%, 2/01/39 |
2/19 at 100.00 | A | 283,338 | ||||||||||||||
| 1,175 |
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Molloy College Project, Series 2009, 5.750%, 7/01/39 |
7/19 at 100.00 | BBB+ | 1,364,105 | ||||||||||||||
| 940 |
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate University, Tender Option Bond Trust 3127, 12.967%, 1/01/14 – AMBAC Insured (IF) |
No Opt. Call | AA+ | 1,093,728 | ||||||||||||||
| 1,315 |
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, American Council of Learned Societies, Series 2002, 5.250%, 7/01/27 |
1/13 at 100.00 | A1 | 1,317,617 | ||||||||||||||
| 2,500 |
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Polytechnic University, Series 2007, 5.250%, 11/01/37 – ACA Insured |
11/17 at 100.00 | BBB– | 2,712,425 | ||||||||||||||
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, YMCA of Greater New York, Series 2006: |
||||||||||||||||||
| 5,520 |
5.000%, 8/01/26 |
8/16 at 100.00 | A– | 5,924,340 | ||||||||||||||
| 2,000 |
5.000%, 8/01/36 |
8/16 at 100.00 | A– | 2,118,280 | ||||||||||||||
|
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006: |
||||||||||||||||||
| 1,060 |
5.000%, 1/01/39 – AMBAC Insured |
1/17 at 100.00 | BB+ | 1,095,923 | ||||||||||||||
| 2,845 |
4.750%, 1/01/42 – AMBAC Insured |
1/17 at 100.00 | BB+ | 2,894,531 | ||||||||||||||
| 2,000 |
5.000%, 1/01/46 – AMBAC Insured |
1/17 at 100.00 | BB+ | 2,063,220 | ||||||||||||||
|
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006: |
||||||||||||||||||
| 720 |
5.000%, 3/01/31 – FGIC Insured |
9/16 at 100.00 | BBB | 766,894 | ||||||||||||||
| 1,350 |
5.000%, 3/01/36 – NPFG Insured |
9/16 at 100.00 | BBB | 1,425,182 | ||||||||||||||
| 3,550 |
4.500%, 3/01/39 – FGIC Insured |
9/16 at 100.00 | BBB | 3,650,110 | ||||||||||||||
| 1,150 |
4.750%, 3/01/46 – NPFG Insured |
9/16 at 100.00 | BBB | 1,192,044 | ||||||||||||||
| 2,000 |
New York City Trust for Cultural Resources, New York, Revenue Bonds, Carnegie Hall, Series 2009A, 5.000%, 12/01/39 |
12/19 at 100.00 | A+ | 2,265,120 | ||||||||||||||
| 600 |
New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of American Art, Series 2011, 5.000%, 7/01/31 |
1/21 at 100.00 | A | 694,674 | ||||||||||||||
| Nuveen Investments | 77 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Education and Civic Organizations (continued) |
||||||||||||||||||
|
Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project, Series 2012: |
||||||||||||||||||
| $ | 1,000 |
5.000%, 7/01/32 |
7/22 at 100.00 | Baa2 | $ | 1,140,910 | ||||||||||||
| 700 |
5.000%, 7/01/42 |
7/22 at 100.00 | Baa2 | 781,543 | ||||||||||||||
| 430 |
Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic College, Series 2007, 5.000%, 10/01/27 |
10/17 at 100.00 | BBB | 462,409 | ||||||||||||||
| 1,600 |
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010A, 5.125%, 9/01/40 |
9/20 at 100.00 | A– | 1,819,920 | ||||||||||||||
| 895 |
Utica Industrial Development Agency, New York, Revenue Bonds, Utica College, Series 1998A, 5.750%, 8/01/28 |
2/13 at 100.00 | N/R | 895,850 | ||||||||||||||
|
Yonkers Economic Development Corporation, New York, Revenue Bonds, Charter School Educational Excellence Project, Series 2010A: |
||||||||||||||||||
| 1,340 |
6.000%, 10/15/30 |
10/20 at 100.00 | BB | 1,422,678 | ||||||||||||||
| 1,200 |
6.250%, 10/15/40 |
10/20 at 100.00 | BB | 1,278,096 | ||||||||||||||
| 1,000 |
Yonkers Industrial Development Agency, New York, Civic Facility Revenue Bonds, Sarah Lawrence College Project, Series 2001A Remarketed, 6.000%, 6/01/41 |
6/19 at 100.00 | BBB+ | 1,152,750 | ||||||||||||||
| 82,200 |
Total Education and Civic Organizations |
90,940,770 | ||||||||||||||||
|
Financials – 0.6% |
||||||||||||||||||
| 500 |
Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35 |
No Opt. Call | A | 624,540 | ||||||||||||||
| 3,475 |
Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 2007, 5.500%, 10/01/37 |
No Opt. Call | A | 4,515,450 | ||||||||||||||
| 3,975 |
Total Financials |
5,139,990 | ||||||||||||||||
|
Health Care – 9.7% |
||||||||||||||||||
| 1,000 |
Albany Capital Resource Corporation, New York, St. Peter’s Hospital Project, Series 2011, 6.125%, 11/15/30 |
11/20 at 100.00 | A3 | 1,226,510 | ||||||||||||||
| 3,575 |
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series 2008A, 5.250%, 11/15/32 |
11/17 at 100.00 | A3 | 3,957,740 | ||||||||||||||
|
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, St. Barnabas Hospital, Series 2002A: |
||||||||||||||||||
| 1,910 |
5.125%, 2/01/22 – AMBAC Insured |
2/13 at 100.00 | N/R | 1,916,341 | ||||||||||||||
| 245 |
5.000%, 2/01/31 – AMBAC Insured |
2/13 at 100.00 | N/R | 245,804 | ||||||||||||||
| 1,405 |
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured |
8/17 at 100.00 | AA– | 1,621,131 | ||||||||||||||
| 1,910 |
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured |
2/15 at 100.00 | BBB | 2,047,253 | ||||||||||||||
| 3,410 |
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, New York Hospital Medical Center of Queens, Series 1999, 4.750%, 2/15/37 |
2/17 at 100.00 | N/R | 3,648,052 | ||||||||||||||
|
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical Center, Series 2005: |
||||||||||||||||||
| 3,000 |
5.000%, 2/01/22 – FGIC Insured |
2/15 at 100.00 | BBB | 3,244,770 | ||||||||||||||
| 1,775 |
5.000%, 2/01/28 – FGIC Insured |
2/15 at 100.00 | BBB | 1,930,384 | ||||||||||||||
| 8,400 |
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Lukes Roosevelt Hospital, Series 2005, 4.900%, 8/15/31 |
8/15 at 100.00 | N/R | 9,115,092 | ||||||||||||||
| 550 |
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds, Series 2010, 5.200%, 7/01/32 |
7/20 at 100.00 | A2 | 619,883 | ||||||||||||||
| 3,000 |
Dormitory Authority of the State of New York, Insured Revenue Bonds, Franciscan Health Partnership Obligated Group – Frances Shervier Home and Hospital, Series 1997, 5.500%, 7/01/27 – RAAI Insured |
1/13 at 100.00 | A3 | 3,004,800 | ||||||||||||||
| 78 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Health Care (continued) |
||||||||||||||||||
| $ | 3,310 |
Dormitory Authority of the State of New York, North Shore Long Island Jewish Obligated Group Revenue Bonds, Series 2011A, 5.000%, 5/01/41 |
5/21 at 100.00 | A– | $ | 3,766,250 | ||||||||||||
| 2,015 |
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group Revenue Bonds, Series 2008, 6.250%, 12/01/37 |
12/18 at 100.00 | Ba1 | 2,260,528 | ||||||||||||||
| 1,250 |
Dormitory Authority of the State of New York, Revenue Bonds, Catholic Health Services of Long Island, Series 2004, 5.100%, 7/01/34 |
7/14 at 100.00 | A– | 1,282,913 | ||||||||||||||
| 3,855 |
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured |
8/14 at 100.00 | AA– | 4,182,791 | ||||||||||||||
| 600 |
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2005A, 5.000%, 11/01/34 |
11/16 at 100.00 | A3 | 641,868 | ||||||||||||||
| 500 |
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2006B, 5.000%, 11/01/34 |
11/16 at 100.00 | A3 | 536,035 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2009A, 5.500%, 5/01/37 |
5/19 at 100.00 | A– | 1,163,670 | ||||||||||||||
| 2,000 |
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2006A, 5.000%, 7/01/20 |
7/16 at 100.00 | A– | 2,255,140 | ||||||||||||||
| 5,600 |
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2007B, 5.625%, 7/01/37 |
7/17 at 100.00 | A– | 6,224,064 | ||||||||||||||
| 2,360 |
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian Hospital Project, Series 2007, 5.000%, 8/15/36 – AGM Insured |
8/14 at 100.00 | AA– | 2,510,002 | ||||||||||||||
|
Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vassar Brothers Medical Center Facility, Series 2005: |
||||||||||||||||||
| 545 |
5.500%, 4/01/30 |
10/20 at 100.00 | AA– | 634,326 | ||||||||||||||
| 950 |
5.500%, 4/01/34 |
10/20 at 100.00 | AA– | 1,107,140 | ||||||||||||||
|
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Oneida Health System, Series 2007A: |
||||||||||||||||||
| 275 |
4.500%, 2/01/17 |
No Opt. Call | BBB– | 286,525 | ||||||||||||||
| 710 |
5.250%, 2/01/27 |
2/17 at 100.00 | BBB– | 735,319 | ||||||||||||||
| 635 |
5.500%, 2/01/32 |
2/17 at 100.00 | BBB– | 660,197 | ||||||||||||||
| 2,720 |
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.750%, 8/15/35 |
2/21 at 100.00 | Aa2 | 3,398,558 | ||||||||||||||
|
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 2003A: |
||||||||||||||||||
| 2,000 |
5.250%, 2/15/21 – AMBAC Insured |
2/13 at 100.00 | Aa3 | 2,018,000 | ||||||||||||||
| 4,300 |
5.250%, 2/15/22 – AMBAC Insured |
2/13 at 100.00 | Aa3 | 4,343,473 | ||||||||||||||
|
Saratoga County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Saratoga Hospital Project, Series 2007B: |
||||||||||||||||||
| 1,000 |
5.125%, 12/01/27 |
12/17 at 100.00 | A– | 1,075,650 | ||||||||||||||
| 500 |
5.250%, 12/01/32 |
12/17 at 100.00 | A– | 537,105 | ||||||||||||||
| 1,965 |
Suffolk County Economic Development Corp / Nassau County Local Economic Assistance & Financing Corp., New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2011, 5.000%, 7/01/28 |
7/21 at 100.00 | A– | 2,301,860 | ||||||||||||||
| 2,000 |
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital, Series 2001A, 7.125%, 7/01/31 |
1/13 at 100.00 | B+ | 2,003,600 | ||||||||||||||
| 70,270 |
Total Health Care |
76,502,774 | ||||||||||||||||
|
Housing/Multifamily – 2.8% |
||||||||||||||||||
| 1,600 |
Canton Capital Resource Corporation, New York, Student Housing Facility Revenue Bonds, Grasse River LLC at SUNY Canton Project Series 2010A, 5.000%, 5/01/40 |
5/20 at 100.00 | AA– | 1,750,672 | ||||||||||||||
| 275 |
East Syracuse Housing Authority, New York, FHA–Insured Section 8 Assisted Revenue Refunding Bonds, Bennet Project, Series 2001A, 6.700%, 4/01/21 |
4/13 at 100.00 | AA+ | 275,877 | ||||||||||||||
| Nuveen Investments | 79 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Housing/Multifamily (continued) |
||||||||||||||||||
| $ | 1,000 |
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Morrisville State College Foundation, Series 2005A, 5.000%, 6/01/37 – CIFG Insured |
6/15 at 101.00 | BBB– | $ | 1,020,580 | ||||||||||||
|
New York City Housing Development Corporation, New York, Capital Fund Program Revenue Bonds, Series 2005A: |
||||||||||||||||||
| 400 |
5.000%, 7/01/14 – FGIC Insured |
No Opt. Call | AA– | 427,048 | ||||||||||||||
| 400 |
5.000%, 7/01/16 – FGIC Insured |
7/15 at 100.00 | AA– | 445,424 | ||||||||||||||
| 4,030 |
5.000%, 7/01/25 – FGIC Insured |
7/15 at 100.00 | AA– | 4,399,309 | ||||||||||||||
| 5 |
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2002A, 5.500%, 11/01/34 (Alternative Minimum Tax) |
5/13 at 100.00 | AA | 5,032 | ||||||||||||||
| 2,000 |
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2004A, 5.250%, 11/01/30 |
5/14 at 100.00 | AA | 2,060,340 | ||||||||||||||
| 540 |
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2004-H2, 5.125%, 11/01/34 (Alternative Minimum Tax) |
11/14 at 100.00 | AA | 554,845 | ||||||||||||||
| 855 |
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2010D-1A, 5.000%, 11/01/42 |
5/20 at 100.00 | AA | 948,751 | ||||||||||||||
| 2,500 |
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2007B, 5.300%, 11/01/37 (Alternative Minimum Tax) |
11/17 at 100.00 | Aa2 | 2,668,700 | ||||||||||||||
| 705 |
New York State Housing Finance Agency, Affordable Housing Revenue, Series 2007A, 5.250%, 11/01/38 (Alternative Minimum Tax) |
11/17 at 100.00 | Aa2 | 747,307 | ||||||||||||||
|
New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, Series 1996A: |
||||||||||||||||||
| 180 |
6.100%, 11/01/15 – AGM Insured |
5/13 at 100.00 | AA– | 180,857 | ||||||||||||||
| 305 |
6.125%, 11/01/20 – AGM Insured |
5/13 at 100.00 | AA– | 305,808 | ||||||||||||||
| 1,760 |
New York State Housing Finance Agency, Multifamily Housing Revenue Bonds, Cannon Street Senior Housing Project, Series 2007A, 5.300%, 2/15/39 (Alternative Minimum Tax) |
2/17 at 100.00 | Aa1 | 1,870,000 | ||||||||||||||
| 1,000 |
New York State Housing Finance Agency, Secured Mortgage Program Multifamily Housing Revenue Bonds, Series 2001G, 5.400%, 8/15/33 (Alternative Minimum Tax) |
2/13 at 100.00 | Aa1 | 1,001,340 | ||||||||||||||
| 3,030 |
Westchester County Industrial Development Agency, New York, GNMA Collateralized Mortgage Loan Revenue Bonds, Living Independently for the Elderly Inc., Series 2001A, 5.400%, 8/20/32 |
2/13 at 101.00 | Aaa | 3,066,663 | ||||||||||||||
| 20,585 |
Total Housing/Multifamily |
21,728,553 | ||||||||||||||||
|
Housing/Single Family – 0.7% |
||||||||||||||||||
| 2,375 |
New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 130, 4.650%, 4/01/27 (Alternative Minimum Tax) |
4/15 at 100.00 | Aa1 | 2,440,764 | ||||||||||||||
| 760 |
New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 145, 5.125%, 10/01/37 (Alternative Minimum Tax) |
4/17 at 100.00 | Aa1 | 797,635 | ||||||||||||||
| 860 |
New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 148, 5.200%, 10/01/32 (Alternative Minimum Tax) |
10/17 at 100.00 | Aa1 | 919,151 | ||||||||||||||
| 1,660 |
New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-Third Series A, 4.750%, 4/01/23 (Alternative Minimum Tax) |
4/13 at 101.00 | Aaa | 1,685,215 | ||||||||||||||
| 5,655 |
Total Housing/Single Family |
5,842,765 | ||||||||||||||||
|
Long-Term Care – 2.1% |
||||||||||||||||||
| 370 |
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, W.K. Nursing Home Corporation, Series 1996, 5.950%, 2/01/16 |
2/13 at 100.00 | AAA | 372,979 | ||||||||||||||
| 1,070 |
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of Westchester Project, Series 2006, 5.200%, 2/15/41 |
2/17 at 103.00 | AA+ | 1,187,293 | ||||||||||||||
| 80 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Long-Term Care (continued) |
||||||||||||||||||
|
Dormitory Authority of the State of New York, Insured Revenue Bonds, NYSARC Inc Projects, Series 2007B: |
||||||||||||||||||
| $ | 290 |
6.000%, 7/01/26 – AMBAC Insured |
7/19 at 100.00 | A– | $ | 345,645 | ||||||||||||
| 310 |
6.000%, 7/01/27 – AMBAC Insured |
7/19 at 100.00 | A– | 368,968 | ||||||||||||||
| 330 |
6.000%, 7/01/28 – AMBAC Insured |
7/19 at 100.00 | A– | 392,337 | ||||||||||||||
| 350 |
6.000%, 7/01/29 – AMBAC Insured |
7/19 at 100.00 | A– | 414,960 | ||||||||||||||
| 1,460 |
6.000%, 7/01/36 – AMBAC Insured |
7/19 at 100.00 | A– | 1,707,120 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, Insured Revenue Bonds, NYSARC Inc Projects, Series 2009A, 6.000%, 7/01/38 |
7/19 at 100.00 | Aa3 | 1,194,200 | ||||||||||||||
| 2,000 |
Dormitory Authority of the State of New York, Insured Revenue Bonds, NYSARC Inc., Series 2005A, 5.000%, 7/01/34 – AGM Insured |
7/15 at 100.00 | AA | 2,170,780 | ||||||||||||||
| 650 |
Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31 |
11/16 at 100.00 | Ba3 | 650,891 | ||||||||||||||
|
Dormitory Authority of the State of New York, Revenue Bonds, Providence Rest, Series 2005: |
||||||||||||||||||
| 50 |
5.125%, 7/01/30 – ACA Insured |
7/15 at 100.00 | N/R | 49,683 | ||||||||||||||
| 415 |
5.000%, 7/01/35 – ACA Insured |
7/15 at 100.00 | N/R | 389,859 | ||||||||||||||
| 1,085 |
East Rochester Housing Authority, New York, GNMA Secured Revenue Refunding Bonds, Genesee Valley Presbyterian Nursing Center, Series 2001, 5.200%, 12/20/24 |
12/13 at 100.00 | Aaa | 1,093,040 | ||||||||||||||
| 1,700 |
East Rochester Housing Authority, New York, Senior Living Revenue Bonds, Woodland Village Project, Series 2006, 5.500%, 8/01/33 |
8/16 at 101.00 | N/R | 1,727,965 | ||||||||||||||
| 265 |
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2000, 8.125%, 7/01/19 |
1/13 at 100.00 | N/R | 265,602 | ||||||||||||||
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2008A-1: |
||||||||||||||||||
| 1,000 |
5.800%, 7/01/23 |
7/16 at 101.00 | N/R | 994,950 | ||||||||||||||
| 1,175 |
6.100%, 7/01/28 |
7/16 at 101.00 | N/R | 1,165,142 | ||||||||||||||
| 800 |
6.200%, 7/01/33 |
7/16 at 101.00 | N/R | 791,240 | ||||||||||||||
| 1,225 |
Suffolk County Economic Development Corporation, New York, Revenue Refunding Bonds, Peconic Landing At Southold, Inc. Project, Series 2010, 6.000%, 12/01/40 |
12/20 at 100.00 | BBB– | 1,393,621 | ||||||||||||||
| 190 |
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Special Needs Facilities Pooled Program, Series 2001C-1, 7.250%, 7/01/16 |
1/13 at 100.50 | N/R | 191,258 | ||||||||||||||
| 15,735 |
Total Long-Term Care |
16,867,533 | ||||||||||||||||
|
Materials – 0.1% |
||||||||||||||||||
| 700 |
Essex County Industrial Development Agency, New York, Environmental Improvement Revenue Bonds, International Paper Company, Series 1999A, 6.450%, 11/15/23 (Alternative Minimum Tax) |
5/13 at 100.00 | BBB | 702,730 | ||||||||||||||
|
Tax Obligation/General – 7.5% |
||||||||||||||||||
| 1,000 |
Erie County, New York, General Obligation Bonds, Series 2003A, 5.250%, 3/15/16 – NPFG Insured |
3/13 at 100.00 | A2 | 1,014,040 | ||||||||||||||
| 3,000 |
Erie County, New York, General Obligation Bonds, Series 2005A, 5.000%, 12/01/18 – NPFG Insured |
12/15 at 100.00 | A2 | 3,295,920 | ||||||||||||||
| 2,000 |
Monroe-Woodbury Central School District, Orange County, New York, General Obligation Bonds, Series 2004A, 4.250%, 5/15/22 – FGIC Insured |
5/14 at 100.00 | Aa3 | 2,062,800 | ||||||||||||||
|
Mount Sinai Union Free School District, Suffolk County, New York, General Obligation Refunding Bonds, Series 1992: |
||||||||||||||||||
| 500 |
6.200%, 2/15/15 – AMBAC Insured |
No Opt. Call | Aa3 | 561,835 | ||||||||||||||
| 1,035 |
6.200%, 2/15/16 – AMBAC Insured |
No Opt. Call | Aa3 | 1,215,235 | ||||||||||||||
| Nuveen Investments | 81 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/General (continued) |
||||||||||||||||||
| $ | 1,505 |
Nassau County, North Hempstead, New York, General Obligation Refunding Bonds, Series 1992B, 6.400%, 4/01/14 – FGIC Insured |
No Opt. Call | Aa1 | $ | 1,622,240 | ||||||||||||
| 10,000 |
New York City, New York, General Obligation Bonds, Fiscal 2008 Series D, 5.125%, 12/01/26 |
12/17 at 100.00 | AA | 11,903,000 | ||||||||||||||
| 400 |
New York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28 |
8/19 at 100.00 | AA | 483,868 | ||||||||||||||
| 1,000 |
New York City, New York, General Obligation Bonds, Fiscal 2010 Series C, 5.000%, 8/01/23 |
8/19 at 100.00 | AA | 1,220,760 | ||||||||||||||
| 3,790 |
New York City, New York, General Obligation Bonds, Fiscal 2012 Series F, 5.000%, 8/01/31 |
2/22 at 100.00 | AA | 4,601,818 | ||||||||||||||
| 1,000 |
New York City, New York, General Obligation Bonds, Fiscal 2012 Series I, 5.000%, 8/01/30 |
8/22 at 100.00 | AA | 1,230,420 | ||||||||||||||
|
New York City, New York, General Obligation Bonds, Fiscal 2013 Series A-1: |
||||||||||||||||||
| 1,725 |
5.000%, 10/01/28 |
10/22 at 100.00 | AA | 2,154,387 | ||||||||||||||
| 3,000 |
5.000%, 10/01/32 |
No Opt. Call | AA | 3,660,570 | ||||||||||||||
|
New York City, New York, General Obligation Bonds, Fiscal Series 2004E: |
||||||||||||||||||
| 1,000 |
5.000%, 11/01/19 – AGM Insured |
No Opt. Call | AA | 1,087,600 | ||||||||||||||
| 925 |
5.000%, 11/01/20 – AGM Insured |
11/14 at 100.00 | AA | 1,006,030 | ||||||||||||||
| 3,620 |
New York City, New York, General Obligation Bonds, Fiscal Series 2005F-1, 5.000%, 9/01/19 – SYNCORA GTY Insured |
9/15 at 100.00 | AA | 4,057,586 | ||||||||||||||
| 600 |
New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 – FGIC Insured |
3/15 at 100.00 | AA | 659,790 | ||||||||||||||
| 1,500 |
New York City, New York, General Obligation Bonds, Series 2011D-I, 5.000%, 10/01/29 |
10/21 at 100.00 | AA | 1,848,435 | ||||||||||||||
| 6,670 |
New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012, 5.000%, 4/01/29 |
4/22 at 100.00 | AA | 8,216,106 | ||||||||||||||
|
Rensselaer County, New York, General Obligation Bonds, Series 1991: |
||||||||||||||||||
| 960 |
6.700%, 2/15/13 – AMBAC Insured |
No Opt. Call | AA– | 972,710 | ||||||||||||||
| 960 |
6.700%, 2/15/14 – AMBAC Insured |
No Opt. Call | AA– | 1,030,656 | ||||||||||||||
| 960 |
6.700%, 2/15/15 – AMBAC Insured |
No Opt. Call | AA– | 1,084,378 | ||||||||||||||
|
Yonkers, New York, General Obligation Bonds, Series 2005B: |
||||||||||||||||||
| 1,985 |
5.000%, 8/01/17 – NPFG Insured |
8/15 at 100.00 | BBB+ | 2,144,872 | ||||||||||||||
| 2,085 |
5.000%, 8/01/18 – NPFG Insured |
8/15 at 100.00 | BBB+ | 2,243,752 | ||||||||||||||
| 51,220 |
Total Tax Obligation/General |
59,378,808 | ||||||||||||||||
|
Tax Obligation/Limited – 32.8% |
||||||||||||||||||
| 1,500 |
Albany Parking Authority, New York, Revenue Refunding Bonds, Series 1992A, 0.000%, 11/01/17 |
No Opt. Call | N/R | 1,209,840 | ||||||||||||||
|
Canton Human Services Initiative Inc., New York, Facility Revenue Bonds, Series 2001: |
||||||||||||||||||
| 865 |
5.700%, 9/01/24 |
3/13 at 101.00 | Baa1 | 874,852 | ||||||||||||||
| 1,155 |
5.750%, 9/01/32 |
3/13 at 101.00 | Baa1 | 1,170,870 | ||||||||||||||
| 1,100 |
Dormitory Authority of the State of New York, Consolidated Revenue Bonds, City University System, Series 1993A, 5.750%, 7/01/13 – NPFG Insured |
No Opt. Call | Aa3 | 1,134,650 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, Lease Revenue Bonds, Wayne-Finger Lakes Board of Cooperative Education Services, Series 2004, 5.000%, 8/15/23 – AGM Insured |
8/14 at 100.00 | AA– | 1,072,390 | ||||||||||||||
|
Dormitory Authority of the State of New York, Residential Insitutions for Children Revenue Bonds, Series 2008-A1: |
||||||||||||||||||
| 2,000 |
5.000%, 6/01/33 |
6/18 at 100.00 | Aa1 | 2,238,640 | ||||||||||||||
| 2,500 |
5.000%, 6/01/38 |
6/18 at 100.00 | Aa1 | 2,771,300 | ||||||||||||||
| 2,410 |
Dormitory Authority of the State of New York, Revenue Bonds, Department of Health, Series 2004-2, 5.000%, 7/01/20 – FGIC Insured |
7/14 at 100.00 | AA– | 2,585,496 | ||||||||||||||
| 82 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 1,000 |
Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities Improvements, Series 2005D-1, 5.000%, 8/15/23 – FGIC Insured |
2/15 at 100.00 | AA– | $ | 1,090,100 | ||||||||||||
| 15 |
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2002D, 5.250%, 10/01/23 – NPFG Insured |
4/13 at 100.00 | A+ | 15,059 | ||||||||||||||
| 1,500 |
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2009C, 5.125%, 10/01/36 – AGC Insured |
10/19 at 100.00 | AA– | 1,718,070 | ||||||||||||||
| 4,000 |
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational Facilities, 1989 Resolution, Series 2000C, 5.750%, 5/15/16 – AGM Insured |
No Opt. Call | AA– | 4,688,240 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational Facilities, Series 1993C, 5.250%, 5/15/19 |
5/14 at 100.00 | AA– | 1,144,200 | ||||||||||||||
| 4,025 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Education Series 2008A, 5.000%, 3/15/28 |
3/18 at 100.00 | AAA | 4,755,860 | ||||||||||||||
| 1,480 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2011C, 5.000%, 3/15/41 |
3/21 at 100.00 | AAA | 1,737,920 | ||||||||||||||
| 10,000 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012A, 5.000%, 12/15/29 |
12/22 at 100.00 | AAA | 12,608,000 | ||||||||||||||
| 3,000 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2009A, 5.000%, 2/15/34 |
2/19 at 100.00 | AAA | 3,621,150 | ||||||||||||||
| 35 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series 2005F, 5.000%, 3/15/21 – AGM Insured |
3/15 at 100.00 | AAA | 38,580 | ||||||||||||||
| 1,460 |
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District Project, Series 2008A, 5.750%, 5/01/27 – AGM Insured |
5/18 at 100.00 | AA– | 1,759,417 | ||||||||||||||
| 14,675 |
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47 – FGIC Insured |
2/17 at 100.00 | A | 16,028,180 | ||||||||||||||
| 5,170 |
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding Series 2012A, 5.000%, 11/15/29 |
11/22 at 100.00 | AA | 6,398,237 | ||||||||||||||
| 1,825 |
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, Series 2002A, 5.750%, 7/01/18 |
No Opt. Call | AA– | 2,277,363 | ||||||||||||||
| 1,680 |
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003, 5.500%, 1/01/34 |
1/13 at 102.00 | BBB | 1,706,897 | ||||||||||||||
|
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local Government Assistance Corporation, Series 2004A: |
||||||||||||||||||
| 5,570 |
5.000%, 10/15/25 – NPFG Insured |
10/14 at 100.00 | AAA | 6,027,297 | ||||||||||||||
| 3,095 |
5.000%, 10/15/26 – NPFG Insured |
10/14 at 100.00 | AAA | 3,347,645 | ||||||||||||||
| 5,875 |
5.000%, 10/15/29 – AMBAC Insured |
10/14 at 100.00 | AAA | 6,351,286 | ||||||||||||||
| 500 |
5.000%, 10/15/32 – AMBAC Insured |
10/14 at 100.00 | AAA | 540,045 | ||||||||||||||
| 10,000 |
5.000%, 10/15/32 – AGM Insured |
10/14 at 100.00 | AAA | 10,800,900 | ||||||||||||||
| 7,800 |
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured |
1/17 at 100.00 | AA– | 8,909,784 | ||||||||||||||
| 4,500 |
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2009-S1, 5.500%, 7/15/31 |
7/18 at 100.00 | AA– | 5,370,885 | ||||||||||||||
| 5,925 |
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal 2012 Series E-1, 5.000%, 2/01/42 |
2/22 at 100.00 | AAA | 7,043,699 | ||||||||||||||
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2003E: |
||||||||||||||||||
| 25 |
5.250%, 2/01/22 – NPFG Insured |
2/13 at 100.00 | AAA | 25,209 | ||||||||||||||
| 20 |
5.000%, 2/01/23 – FGIC Insured |
2/13 at 100.00 | AAA | 20,157 | ||||||||||||||
| 3,705 |
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007C-1, 5.000%, 11/01/27 |
11/17 at 100.00 | AAA | 4,427,438 | ||||||||||||||
| Nuveen Investments | 83 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011C: |
||||||||||||||||||
| $ | 10,050 |
5.500%, 11/01/35 |
11/20 at 100.00 | AAA | $ | 12,568,329 | ||||||||||||
| 11,475 |
5.000%, 11/01/39 |
11/20 at 100.00 | AAA | 13,601,316 | ||||||||||||||
|
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, SubSeries 2011D-1: |
||||||||||||||||||
| 1,000 |
5.250%, 2/01/30 |
2/21 at 100.00 | AAA | 1,246,790 | ||||||||||||||
| 5,000 |
5.000%, 2/01/35 |
2/21 at 100.00 | AAA | 5,961,100 | ||||||||||||||
|
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option Bonds Trust 3095: |
||||||||||||||||||
| 440 |
13.539%, 11/15/30 – AMBAC Insured (IF) (4) |
11/15 at 100.00 | AA+ | 541,649 | ||||||||||||||
| 1,395 |
13.525%, 11/15/44 – AMBAC Insured (IF) (4) |
11/15 at 100.00 | AA+ | 1,661,292 | ||||||||||||||
| 180 |
New York State Environmental Facilities Corporation, Infrastructure Revenue Bonds, Series 2003A, 5.000%, 3/15/21 |
3/14 at 100.00 | AA– | 189,385 | ||||||||||||||
|
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds, Series 2008A: |
||||||||||||||||||
| 5,050 |
5.000%, 12/15/26 (UB) |
12/17 at 100.00 | AAA | 5,995,562 | ||||||||||||||
| 60 |
5.000%, 12/15/27 (UB) |
12/17 at 100.00 | AAA | 71,041 | ||||||||||||||
| 2,100 |
New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds, Economic Development and Housing, Series 2006A, 5.000%, 3/15/36 |
9/15 at 100.00 | AAA | 2,324,217 | ||||||||||||||
| 1,625 |
New York State Local Government Assistance Corporation, Revenue Bonds, Series 1993E, 5.250%, 4/01/16 – AGM Insured |
No Opt. Call | AAA | 1,835,064 | ||||||||||||||
| 1,000 |
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2004A, 5.000%, 4/01/23 – NPFG Insured |
4/14 at 100.00 | AA | 1,061,060 | ||||||||||||||
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B: |
||||||||||||||||||
| 5,385 |
5.500%, 4/01/20 – AMBAC Insured |
No Opt. Call | AA | 6,992,315 | ||||||||||||||
| 1,500 |
5.000%, 4/01/21 – AMBAC Insured |
10/15 at 100.00 | AA | 1,682,460 | ||||||||||||||
| 2,750 |
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007, 5.000%, 4/01/27 |
10/17 at 100.00 | AA | 3,181,998 | ||||||||||||||
| 5,500 |
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B, 5.500%, 4/01/20 – AMBAC Insured (UB) (4) |
No Opt. Call | AA | 7,141,640 | ||||||||||||||
| 5,000 |
New York State Thruway Authority, Second General Highway and Bridge Trust Fund Bonds, Series 2011A-1, 5.000%, 4/01/31 |
4/21 at 100.00 | AA | 5,974,650 | ||||||||||||||
| 1,500 |
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2004A, 5.000%, 3/15/24 – AMBAC Insured |
9/14 at 100.00 | AAA | 1,619,280 | ||||||||||||||
|
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1: |
||||||||||||||||||
| 7,200 |
5.250%, 6/01/20 – AMBAC Insured |
6/13 at 100.00 | AA– | 7,375,392 | ||||||||||||||
| 3,005 |
5.250%, 6/01/21 – AMBAC Insured |
6/13 at 100.00 | AA– | 3,076,339 | ||||||||||||||
| 10,345 |
5.250%, 6/01/22 – AMBAC Insured |
6/13 at 100.00 | AA– | 10,592,763 | ||||||||||||||
| 3,000 |
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 |
6/13 at 100.00 | AA– | 3,076,200 | ||||||||||||||
| 960 |
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2005B, 5.000%, 3/15/30 – AGM Insured |
3/15 at 100.00 | AAA | 1,015,632 | ||||||||||||||
| 7,000 |
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2011A, 5.000%, 3/15/29 |
3/21 at 100.00 | AAA | 8,534,260 | ||||||||||||||
| 675 |
Niagara Falls City School District, Niagara County, New York, Certificates of Participation, High School Facility, Series 2005, 5.000%, 6/15/28 – AGM Insured |
6/15 at 100.00 | AA– | 716,897 | ||||||||||||||
| 4,000 |
Puerto Rico Highway and Transportation Authority, Highway Revenue Refunding Bonds, Series 2002E, 5.500%, 7/01/18 – AGM Insured |
No Opt. Call | AA– | 4,669,600 | ||||||||||||||
| 84 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Tax Obligation/Limited (continued) |
||||||||||||||||||
| $ | 5,000 |
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 0.000%, 7/01/44 – AMBAC Insured |
No Opt. Call | BBB+ | $ | 713,500 | ||||||||||||
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C: |
||||||||||||||||||
| 1,810 |
5.250%, 8/01/41 |
8/20 at 100.00 | A+ | 1,947,542 | ||||||||||||||
| 1,055 |
5.125%, 8/01/42 – AGM Insured |
8/20 at 100.00 | AA– | 1,166,028 | ||||||||||||||
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2011A-1: |
||||||||||||||||||
| 2,100 |
5.250%, 8/01/43 |
8/21 at 100.00 | A+ | 2,270,604 | ||||||||||||||
| 3,890 |
5.000%, 8/01/43 |
8/21 at 100.00 | A+ | 4,135,770 | ||||||||||||||
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A: |
||||||||||||||||||
| 10,485 |
0.000%, 8/01/42 – FGIC Insured |
No Opt. Call | AA– | 2,145,860 | ||||||||||||||
| 21,285 |
0.000%, 8/01/46 – NPFG Insured |
No Opt. Call | AA– | 3,384,102 | ||||||||||||||
| 1,850 |
5.250%, 8/01/57 |
8/17 at 100.00 | AA– | 1,983,478 | ||||||||||||||
| 2,385 |
Syracuse Industrial Development Authority, New York, PILOT Mortgage Revenue Bonds, Carousel Center Project, Series 2007A, 5.000%, 1/01/36 – SYNCORA GTY Insured (Alternative Minimum Tax) |
1/17 at 100.00 | A+ | 2,459,937 | ||||||||||||||
| 257,465 |
Total Tax Obligation/Limited |
258,422,708 | ||||||||||||||||
|
Transportation – 12.7% |
||||||||||||||||||
| 4,500 |
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012H, 5.000%, 11/15/29 |
No Opt. Call | A | 5,453,145 | ||||||||||||||
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A: |
||||||||||||||||||
| 3,000 |
5.000%, 11/15/15 – FGIC Insured |
No Opt. Call | A | 3,378,450 | ||||||||||||||
| 2,605 |
5.000%, 11/15/25 – AGM Insured |
11/13 at 100.00 | AA– | 2,707,220 | ||||||||||||||
| 1,180 |
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005A, 4.750%, 11/15/27 – NPFG Insured |
11/15 at 100.00 | AA– | 1,304,112 | ||||||||||||||
| 7,000 |
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2006A, 5.000%, 11/15/31 |
11/16 at 100.00 | A | 7,900,410 | ||||||||||||||
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007: |
||||||||||||||||||
| 2,800 |
5.750%, 10/01/37 |
10/17 at 100.00 | N/R | 1,280,832 | ||||||||||||||
| 2,000 |
5.875%, 10/01/46 |
10/17 at 102.00 | N/R | 914,280 | ||||||||||||||
| 705 |
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, British Airways PLC, Series 1998, 5.250%, 12/01/32 (Alternative Minimum Tax) |
6/13 at 100.00 | BB | 705,063 | ||||||||||||||
| 3,500 |
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, JFK Airport – American Airlines Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax) |
8/13 at 100.50 | N/R | 3,552,780 | ||||||||||||||
| 3,670 |
New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, Terminal One Group JFK Project, Series 2005, 5.500%, 1/01/24 (Alternative Minimum Tax) |
1/16 at 100.00 | A3 | 3,962,609 | ||||||||||||||
| 3,040 |
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44 |
11/21 at 100.00 | A+ | 3,513,176 | ||||||||||||||
| 580 |
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%, 1/01/25 – FGIC Insured |
1/18 at 100.00 | A+ | 677,649 | ||||||||||||||
|
New York State Thruway Authority, General Revenue Bonds, Series 2005F: |
||||||||||||||||||
| 5,265 |
5.000%, 1/01/20 – AMBAC Insured |
1/15 at 100.00 | A+ | 5,747,379 | ||||||||||||||
| 295 |
5.000%, 1/01/30 – AMBAC Insured |
1/15 at 100.00 | A+ | 320,420 | ||||||||||||||
|
New York State Thruway Authority, General Revenue Bonds, Series 2005G: |
||||||||||||||||||
| 1,600 |
5.000%, 1/01/30 – AGM Insured |
7/15 at 100.00 | AA– | 1,770,560 | ||||||||||||||
| 3,250 |
5.000%, 1/01/32 – AGM Insured |
7/15 at 100.00 | AA– | 3,596,450 | ||||||||||||||
| Nuveen Investments | 85 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Transportation (continued) |
||||||||||||||||||
| $ | 2,110 |
New York State Thruway Authority, General Revenue Bonds, Series 2012I, 5.000%, 1/01/42 |
1/22 at 100.00 | A+ | $ | 2,482,858 | ||||||||||||
|
Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara International Airport, Series 1998: |
||||||||||||||||||
| 1,000 |
5.000%, 4/01/18 – FGIC Insured (Alternative Minimum Tax) |
4/13 at 100.00 | BBB | 1,000,550 | ||||||||||||||
| 1,500 |
5.000%, 4/01/28 – FGIC Insured (Alternative Minimum Tax) |
4/13 at 100.00 | BBB | 1,495,920 | ||||||||||||||
| 4,000 |
Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara International Airport, Series 1999A, 5.625%, 4/01/29 – NPFG Insured (Alternative Minimum Tax) |
4/13 at 100.00 | BBB | 4,045,400 | ||||||||||||||
| 5,000 |
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fifty Second Series 2007, 5.000%, 11/01/28 (Alternative Minimum Tax) |
5/18 at 100.00 | AA– | 5,647,350 | ||||||||||||||
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth Series 2005: |
||||||||||||||||||
| 500 |
5.000%, 12/01/19 – AGM Insured |
6/15 at 101.00 | AA– | 560,615 | ||||||||||||||
| 2,000 |
5.000%, 12/01/28 – SYNCORA GTY Insured |
6/15 at 101.00 | AA– | 2,202,840 | ||||||||||||||
| 1,725 |
5.000%, 12/01/31 – SYNCORA GTY Insured |
6/15 at 101.00 | AA– | 1,893,188 | ||||||||||||||
| 1,535 |
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty Eighth Series 2008, Trust 2920, 17.304%, 8/15/32 – AGM Insured (IF) |
8/17 at 100.00 | AA– | 2,419,221 | ||||||||||||||
| 3,485 |
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/36 |
12/20 at 100.00 | BBB– | 4,169,140 | ||||||||||||||
| 4,545 |
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC, Sixth Series 1997, 5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax) |
6/13 at 100.00 | BBB | 4,546,636 | ||||||||||||||
| 250 |
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series 1996A, 6.250%, 6/01/26 (Alternative Minimum Tax) (5) |
6/13 at 100.00 | N/R | 193,135 | ||||||||||||||
| 15,000 |
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Bonds, Series 2011A, 5.000%, 1/01/28 |
1/22 at 100.00 | AA– | 18,476,248 | ||||||||||||||
| 1,560 |
Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue Refunding Bonds, Series 2002E, 5.500%, 11/15/20 – NPFG Insured |
No Opt. Call | A+ | 2,040,636 | ||||||||||||||
| 1,500 |
Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue Refunding Bonds, Tender Option Bond Trust 1184, 9.265%, 5/15/16 (IF) |
No Opt. Call | AA– | 1,978,470 | ||||||||||||||
| 90,700 |
Total Transportation |
99,936,742 | ||||||||||||||||
|
U.S. Guaranteed – 2.5% (6) |
||||||||||||||||||
| 2,000 |
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer Center, Series 2003-1, 5.000%, 7/01/21 (Pre-refunded 7/01/13) – NPFG Insured |
7/13 at 100.00 | AA (6) | 2,056,020 | ||||||||||||||
| 1,250 |
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Group, Series 2003, 5.375%, 5/01/23 (Pre-refunded 5/01/13) |
5/13 at 100.00 | Aaa | 1,277,138 | ||||||||||||||
| 1,500 |
Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities Hospital, Series 2003B, 5.500%, 7/01/23 (Pre-refunded 7/01/13) |
7/13 at 100.00 | Baa1 (6) | 1,545,225 | ||||||||||||||
| 1,000 |
Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University Hospital Association, Series 2003A, 5.500%, 7/01/32 (Pre-refunded 7/01/13) |
7/13 at 100.00 | Baa1 (6) | 1,030,150 | ||||||||||||||
| 650 |
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series 2005F, 5.000%, 3/15/21 (Pre-refunded 3/15/15) – AGM Insured |
3/15 at 100.00 | AA– (6) | 718,406 | ||||||||||||||
| 220 |
Dormitory Authority of the State of New York, Suffolk County, Lease Revenue Bonds, Judicial Facilities, Series 1991A, 9.500%, 4/15/14 – FGIC Insured (ETM) |
4/13 at 101.59 | N/R (6) | 236,555 | ||||||||||||||
| 86 | Nuveen Investments |
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
U.S. Guaranteed (6) (continued) |
||||||||||||||||||
| $ | 1,100 |
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District, Series 2004, 5.750%, 5/01/26 (Pre-refunded 5/01/14) – AGM Insured |
5/14 at 100.00 | AA– (6) | $ | 1,184,975 | ||||||||||||
| 335 |
Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 – AMBAC Insured (ETM) |
12/14 at 100.00 | N/R (6) | 355,147 | ||||||||||||||
| 6,000 |
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2003C, 5.000%, 9/01/16 (Pre-refunded 9/01/13) – CIFG Insured |
9/13 at 100.00 | A (6) | 6,214,440 | ||||||||||||||
|
Metropolitan Transportation Authority, New York, Commuter Facilities Revenue Bonds, Series 1997B: |
||||||||||||||||||
| 855 |
5.000%, 7/01/20 – AMBAC Insured (ETM) |
1/13 at 100.00 | N/R (6) | 892,637 | ||||||||||||||
| 1,295 |
5.125%, 7/01/24 – AMBAC Insured (ETM) |
1/13 at 100.00 | N/R (6) | 1,331,726 | ||||||||||||||
| 865 |
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2003E, 5.000%, 2/01/23 (Pre-refunded 2/01/13) – FGIC Insured |
2/13 at 100.00 | Aaa | 871,989 | ||||||||||||||
| 1,000 |
New York City Transitional Finance Authority, New York, Future Tax Secured Refunding Bonds, Fiscal Series 2003D, 5.000%, 2/01/22 (Pre-refunded 2/01/13) – NPFG Insured |
2/13 at 100.00 | Aaa | 1,008,080 | ||||||||||||||
|
New York City, New York, General Obligation Bonds, Fiscal Series 2004E: |
||||||||||||||||||
| 600 |
5.000%, 11/01/19 (Pre-refunded 11/01/14) – AGM Insured |
11/14 at 100.00 | Aa2 (6) | 653,784 | ||||||||||||||
| 125 |
5.000%, 11/01/20 (Pre-refunded 11/01/14) – AGM Insured |
11/14 at 100.00 | Aa2 (6) | 136,079 | ||||||||||||||
| 240 |
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series 2005B, 5.000%, 3/15/30 (Pre-refunded 3/15/15) – AGM Insured |
3/15 at 100.00 | AA– (6) | 265,258 | ||||||||||||||
| 19,035 |
Total U.S. Guaranteed |
19,777,609 | ||||||||||||||||
|
Utilities – 9.0% |
||||||||||||||||||
| 3,000 |
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42 |
2/20 at 100.00 | Baa3 | 3,423,450 | ||||||||||||||
| 1,200 |
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured |
10/20 at 100.00 | AA– | 1,311,624 | ||||||||||||||
| 420 |
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 |
10/22 at 100.00 | BBB | 479,879 | ||||||||||||||
| 6,000 |
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A, 0.000%, 12/01/19 – AGM Insured |
No Opt. Call | AA– | 5,368,260 | ||||||||||||||
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A: |
||||||||||||||||||
| 2,350 |
0.000%, 6/01/20 – AGM Insured |
No Opt. Call | AA– | 2,054,840 | ||||||||||||||
| 2,000 |
0.000%, 6/01/24 – AGM Insured |
No Opt. Call | AA– | 1,503,360 | ||||||||||||||
| 2,000 |
0.000%, 6/01/25 – AGM Insured |
No Opt. Call | AA– | 1,446,380 | ||||||||||||||
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: |
||||||||||||||||||
| 8,800 |
5.000%, 12/01/23 – FGIC Insured |
6/16 at 100.00 | A | 9,870,520 | ||||||||||||||
| 1,200 |
5.000%, 12/01/24 – FGIC Insured |
6/16 at 100.00 | A | 1,341,180 | ||||||||||||||
| 2,615 |
5.000%, 12/01/25 – FGIC Insured |
6/16 at 100.00 | A | 2,922,655 | ||||||||||||||
| 1,050 |
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 5.000%, 12/01/35 – CIFG Insured |
6/16 at 100.00 | A | 1,165,941 | ||||||||||||||
| 5,000 |
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006C, 5.000%, 9/01/35 – BHAC Insured |
9/16 at 100.00 | AA+ | 5,611,800 | ||||||||||||||
| 2,000 |
Long Island Power Authority, New York, Electric System Revenue Bonds, Refunding Series 2009A, 5.700%, 4/01/30 |
4/19 at 100.00 | A | 2,478,840 | ||||||||||||||
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A: |
||||||||||||||||||
| 10,000 |
6.000%, 5/01/33 |
5/19 at 100.00 | A | 12,607,900 | ||||||||||||||
| 5,000 |
5.500%, 5/01/33 – BHAC Insured |
5/19 at 100.00 | AA+ | 6,136,450 | ||||||||||||||
| Nuveen Investments | 87 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
|
Principal
Amount (000) |
Description (1) |
Optional Call
Provisions (2) |
Ratings (3) | Value | ||||||||||||||
|
Utilities (continued) |
||||||||||||||||||
| $ | 2,400 |
Nassau County Industrial Development Authority, New York, Keyspan Glenwood Energy Project, Series 2003, 5.250%, 6/01/27 (Alternative Minimum Tax) |
6/13 at 100.00 | A– | $ | 2,449,344 | ||||||||||||
| 1,000 |
New York State Energy Research and Development Authority, Electric Facilities Revenue Bonds, Long Island Lighting Company, Series 1995A, 5.300%, 8/01/25 – NPFG Insured (Alternative Minimum Tax) |
3/13 at 100.00 | A– | 1,001,940 | ||||||||||||||
| 4,750 |
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 |
No Opt. Call | BB+ | 4,851,460 | ||||||||||||||
| 520 |
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%, 11/15/19 – FGIC Insured |
11/15 at 100.00 | Aa2 | 587,990 | ||||||||||||||
|
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Nissequogue Cogeneration Partners Facility, Series 1998: |
||||||||||||||||||
| 480 |
5.300%, 1/01/13 (Alternative Minimum Tax) |
No Opt. Call | N/R | 480,173 | ||||||||||||||
| 4,000 |
5.500%, 1/01/23 (Alternative Minimum Tax) |
1/13 at 100.00 | N/R | 4,000,600 | ||||||||||||||
| 65,785 |
Total Utilities |
71,094,586 | ||||||||||||||||
|
Water and Sewer – 6.4% |
||||||||||||||||||
| 8,000 |
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44 |
12/21 at 100.00 | AA+ | 9,386,720 | ||||||||||||||
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Series 2011HH: |
||||||||||||||||||
| 10,500 |
5.000%, 6/15/29 |
6/21 at 100.00 | AA+ | 12,901,768 | ||||||||||||||
| 4,500 |
5.000%, 6/15/31 |
6/21 at 100.00 | AA+ | 5,489,955 | ||||||||||||||
| 2,000 |
5.000%, 6/15/32 |
6/21 at 100.00 | AA+ | 2,393,440 | ||||||||||||||
| 2,105 |
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured |
6/16 at 100.00 | AAA | 2,380,839 | ||||||||||||||
| 3,340 |
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Fiscal Series 2005C, 5.000%, 6/15/27 – NPFG Insured |
6/15 at 100.00 | AAA | 3,689,999 | ||||||||||||||
| 3,000 |
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Series 2006A, 4.750%, 6/15/29 |
6/16 at 100.00 | AAA | 3,371,640 | ||||||||||||||
| 2,950 |
Niagara Falls Public Water Authority, New York, Water and Sewerage Revenue Bonds, Series 2005, 5.000%, 7/15/27 – SYNCORA GTY Insured |
7/15 at 100.00 | BBB– | 3,112,604 | ||||||||||||||
| 1,520 |
Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/38 |
7/18 at 100.00 | Baa2 | 1,611,808 | ||||||||||||||
| 4,000 |
Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2005C, 5.000%, 6/01/28 – NPFG Insured |
6/15 at 100.00 | AAA | 4,273,800 | ||||||||||||||
| 1,455 |
Western Nassau County Water Authority, New York, Water System Revenue Bonds, Series 2005, 5.000%, 5/01/18 – AMBAC Insured |
5/15 at 100.00 | AA– | 1,586,779 | ||||||||||||||
| 43,370 |
Total Water and Sewer |
50,199,352 | ||||||||||||||||
| $ | 745,785 |
Total Investments (cost $728,374,377) – 100.8% |
795,064,891 | |||||||||||||||
|
Floating Rate Obligations – (1.0)% |
(7,955,000) | |||||||||||||||||
|
Other Assets Less Liabilities – 0.2% |
1,822,712 | |||||||||||||||||
|
Net Assets – 100% |
$ | 788,932,603 | ||||||||||||||||
| 88 | Nuveen Investments |
Fair Value Measurements
Fair value is defined as the price that the Funds 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 |
$ | — | $ | 795,064,891 | $ | — | $ | 795,064,891 | ||||||||
| * | Refer to the Fund’s Portfolio of Investments for industry classifications. |
The Nuveen funds’ Board of Directors/Trustees is responsible for the valuation process and has delegated the oversight of the daily valuation process to the Adviser’s Valuation Committee. The Valuation Committee, pursuant to the valuation policies and procedures adopted by the Board of Directors/Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the funds’ pricing policies, and reporting to the Board of Directors/Trustees. The Valuation Committee is aided in its efforts by the Adviser’s dedicated Securities Valuation Team, which is responsible for administering the daily valuation process and applying fair value methodologies as approved by the Valuation Committee. When determining the reliability of independent pricing services for investments owned by the funds, the Valuation Committee, among other things, conducts due diligence reviews of the pricing services and monitors the quality of security prices received through various testing reports conducted by the Securities Valuation Team.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors/Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such testing and fair valuation occurrences are reported to the Board of Directors/Trustees.
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 taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. 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.
At November 30, 2012, the cost of investments was $719,863,538.
| Nuveen Investments | 89 |
Portfolio of Investments (Unaudited)
Nuveen New York Municipal Bond Fund (continued)
November 30, 2012
Gross unrealized appreciation and gross unrealized depreciation of investments at November 30, 2012, were as follows:
|
Gross unrealized: |
||||
|
Appreciation |
$ | 69,659,354 | ||
|
Depreciation |
(2,414,105 | ) | ||
|
Net unrealized appreciation (depreciation) of investments |
$ | 67,245,249 |
| (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) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
| (5) | At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records. |
| (6) | 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. |
| N/R | Not rated. |
| (ETM) | Escrowed to maturity. |
| (IF) | Inverse floating rate investment. |
| (UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
| 90 | 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 Multistate Trust II
|
By (Signature and Title) |
/s/ Kevin J. McCarthy | |
| Kevin J. McCarthy | ||
| Vice President and Secretary |
Date: January 29, 2013
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: January 29, 2013
|
By (Signature and Title) |
/s/ Stephen D. Foy | |
| Stephen D. Foy | ||
|
Vice President and Controller (principal financial officer) |
Date: January 29, 2013
1 Year Nuveen California Municipal Market Opportunity Fund, Inc. Chart |
1 Month Nuveen California Municipal Market Opportunity Fund, Inc. Chart |
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