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

1

Nuveen

Dynamic

Municipal

Opportiunities

Fund

Portfolio

of

Investments

July

31,

2023

(Unaudited)

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

LONG-TERM

INVESTMENTS

-

135.5%  

(100.0%

of

Total

Investments) 

X

–

MUNICIPAL

BONDS

-

133

.9

%

(

98

.8

%

of

Total

Investments)

X

868,758,935

Alabama

-

2.0%

(1.5%

of

Total

Investments)

$

5,000

Black

Belt

Energy

Gas

District,

Alabama,

Gas

Project

Revenue

Bonds,

Series

2023A,

5.250%,

1/01/54,

(Mandatory

Put

10/01/30)

7/30

at

100.25

A2  

$

5,274,000

2,360

Hoover

Industrial

Development

Board,

Alabama,

Environmental

Improvement

Revenue

Bonds,

United

States

Steel

Corporation

Proejcet,

Green

Series

2020,

6.375%,

11/01/50,

(AMT),

(Mandatory

Put

11/01/30)

No

Opt.

Call

B1  

2,606,289

4,960

Mobile

County,

Alabama,

Limited

Obligation

Warrants,

Gomesa

Projects,

Series

2020,

4.000%,

11/01/45,

144A

11/29

at

100.00

N/R  

4,340,645

777

Tuscaloosa

County

Industrial

Development

Authority,

Alabama,

Gulf

Opportunity

Zone

Bonds,

Hunt

Refining

Project,

Refunding

Series

2019A,

4.500%,

5/01/32,

144A

5/29

at

100.00

N/R  

726,122

Total

Alabama

12,947,056

Arizona

-

7.8%

(5.7%

of

Total

Investments)

2,580

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Heritage

Academy

-

Gateway

and

Laveen

Pojects,

Series

2021B,

5.000%,

7/01/51,

144A

7/28

at

103.00

N/R  

1,878,008

4,070

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Heritage

Academy

-

Gateway

and

Laveen

Pojects,

Taxable

Series

2021A,

5.000%,

7/01/51,

144A

7/28

at

103.00

N/R  

2,960,396

1,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Heritage

Academy

-

Gateway

and

Laveen

Pojects,

Taxable

Series

2021C,

6.000%,

7/01/29,

144A

No

Opt.

Call

N/R  

923,800

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Mater

Academy

of

Nevada

-

Bonanza

Campus

Project,

Series

2020A:

920

5.000%,

12/15/40,

144A

12/28

at

100.00

BB  

880,799

1,500

5.000%,

12/15/50,

144A

12/28

at

100.00

BB  

1,357,155

1,500

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Social

Bonds

?

Pensar

Academy

Project,

Series

2020,

5.000%,

7/01/55,

144A

7/28

at

100.00

BB-  

1,258,185

4,500

Arizona

Industrial

Development

Authority,

Arizona,

Hotel

Revenue

Bonds,

Provident

Group

Falcon

Properties

LLC,

Project,

Senior

Series

2022A-1,

4.000%,

12/01/51,

144A

12/31

at

100.00

BB  

3,460,860

5,085

Chandler

Industrial

Development

Authority,

Arizona,

Industrial

Development

Revenue

Bonds,

Intel

Corporation

Project,

Series

2022-

2,

5.000%,

9/01/52,

(AMT),

(Mandatory

Put

9/01/27)

3/27

at

100.00

A  

5,227,481

1,090

Coconino

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Flagstaff

Arts

&

Leadership

Academy

Project,

Refunding

Series

2020,

5.500%,

7/01/40,

144A

7/28

at

100.00

N/R  

919,764

1,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Educational

Facilities

Revenue

Bonds,

Ottawa

University

Projects,

Series

2020,

5.250%,

10/01/40,

144A

10/27

at

103.00

N/R  

982,170

6,410

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Series

2023A-3,

5.000%,

1/01/53,

(Mandatory

Put

11/01/30)

11/29

at

101.58

AA-  

7,108,626

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Refunding

Series

2023:

1,560

5.000%,

7/01/30,

(AMT)

No

Opt.

Call

AA-  

1,712,740

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

2

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Arizona

(continued)

$

1,370

5.000%,

7/01/31,

(AMT)

No

Opt.

Call

AA-  

$

1,516,878

1,260

5.000%,

7/01/32,

(AMT)

No

Opt.

Call

AA-  

1,404,068

3,405

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Northwest

Christian

School

Project,

Series

2020A,

5.000%,

9/01/55,

144A

9/30

at

100.00

Ba2  

2,731,491

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Edkey

Charter

Schools

Project,

Refunding

Series

2020:

5,265

5.000%,

7/01/35,

144A

7/26

at

103.00

N/R  

5,162,385

6,800

5.000%,

7/01/40,

144A

7/26

at

103.00

N/R  

6,340,388

4,580

Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Synergy

Public

Charter

School

Project,

Series

2020-1,

5.000%,

6/15/50,

144A

6/28

at

100.00

N/R  

3,934,220

800

Pima

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Tucson

Medical

Center,

Series

2021A,

4.000%,

4/01/40

4/31

at

100.00

A  

763,888

Total

Arizona

50,523,302

Arkansas

-

1.8%

(1.3%

of

Total

Investments)

4,500

Arkansas

Development

Finance

Authority,

Arkansas,

Environmental

Improvement

Revenue

Bonds,

United

States

Steel

Corporation,

Green

Series

2022,

5.450%,

9/01/52,

(AMT),

144A

9/25

at

105.00

BB-  

4,499,775

8,000

Arkansas

Development

Finance

Authority,

Industrial

Development

Revenue

Bonds,

Big

River

Steel

Project,

Series

2019,

4.500%,

9/01/49,

(AMT),

144A

9/26

at

103.00

BB-  

7,290,080

Total

Arkansas

11,789,855

California

-

12.1%

(8.9%

of

Total

Investments)

2,000

Alvord

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Refunding

Series

2002A,

5.900%,

8/01/30

-

NPFG

Insured

No

Opt.

Call

A1  

2,193,920

1,205

Antelope

Valley

Healthcare

District,

California,

Revenue

Bonds,

Series

2016A,

5.000%,

3/01/26

No

Opt.

Call

BBB  

1,209,627

1,960

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023C,

5.250%,

1/01/54,

(Mandatory

Put

10/01/31)

10/30

at

100.65

Baa1  

2,048,396

4,500

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023D,

5.500%,

5/01/54,

(Mandatory

Put

11/01/28)

8/28

at

100.24

A2  

4,749,120

3,815

California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A,

4.000%,

2/01/56,

144A

8/31

at

100.00

N/R  

2,442,554

10,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Sonoma

County

Tobacco

Securitization

Corporation,

Series

2020B-2,

0.000%,

6/01/55

12/30

at

34.02

N/R  

2,188,900

7,000

California

Municipal

Finance

Authority,

Special

Facility

Revenue

Bonds,

United

Airlines,

Inc.

Los

Angeles

International

Airport

Project,

Series

2019,

4.000%,

7/15/29,

(AMT)

No

Opt.

Call

BB-  

6,948,620

California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012:

2,500

5.000%,

7/01/37,

(AMT),

144A

1/24

at

100.00

Baa3  

2,500,575

3,885

5.000%,

11/21/45,

(AMT),

144A

1/24

at

100.00

Baa3  

3,865,653

5,000

California

Public

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

California

Crosspoint

Academy

Project,

Series

2020A,

5.125%,

7/01/55,

144A

7/28

at

100.00

N/R  

3,995,200

3

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

California

(continued)

$

465

California

Public

Finance

Authority,

Senior

Living

Revenue

Bonds,

Enso

Village,

Refunding

Green

Series

2021A,

5.000%,

11/15/51,

144A

11/29

at

102.00

N/R  

$

410,037

2,000

California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Scholarship

Prep

Public

Schools

?

Obligated

Group,

Series

2020A,

5.000%,

6/01/60,

144A

6/28

at

100.00

N/R  

1,475,740

1,105

California

State,

General

Obligation

Bonds,

Various

Purpose

Refunding

Series

2023,

4.000%,

10/01/42

4/33

at

100.00

AA-  

1,126,746

3,935

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2023,

5.250%,

10/01/45

4/33

at

100.00

AA-  

4,511,989

6,180

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A,

5.000%,

1/01/54,

144A

1/31

at

100.00

N/R  

4,943,567

2,750

Irvine

Facilities

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Great

Park

Infrastructure

Project

Series

2023A,

5.000%,

9/01/40

9/33

at

100.00

AA-  

3,106,703

1,280

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022C,

5.000%,

7/01/52

1/32

at

100.00

AA-  

1,394,739

Metropolitan

Water

District

of

Southern

California,

Water

Revenue

Bonds,

Refunding

Series

2023A:

750

5.000%,

4/01/41

4/33

at

100.00

Aa1  

860,617

500

5.000%,

4/01/42

4/33

at

100.00

Aa1  

570,305

530

5.000%,

4/01/43

4/33

at

100.00

Aa1  

602,006

985

Northstar

Community

Services

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

1,

Series

2006,

1.250%,

9/01/37

(4)

9/23

at

100.00

N/R  

364,610

1,070

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Improvement

Area

1,

Refunding

Series

2022A-1,

5.000%,

9/01/42

-

AGM

Insured

9/29

at

103.00

AA  

1,178,252

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Improvement

Area

1,

Subordinate

Series

2022B-2:

1,070

5.000%,

9/01/42

9/29

at

103.00

N/R  

1,034,316

1,805

5.250%,

9/01/47

9/29

at

103.00

N/R  

1,786,751

1,000

5.000%,

9/01/52

9/29

at

103.00

N/R  

946,160

5,000

Sacramento

Municipal

Utility

District,

California,

Electric

Revenue

Bonds,

Refunding

Series

2023D,

5.000%,

8/15/49,

(Mandatory

Put

10/15/30)

4/30

at

100.00

AA-  

5,666,600

750

San

Francisco

Community

College

District,

California,

General

Obligation

Bonds,

Taxable

Election

2020

Series

2020A-1,

3.165%,

6/15/41

6/30

at

100.00

A1  

574,275

420

San

Jose,

California,

Airport

Revenue

Bonds,

Taxable

Refunding

Series

2021C,

3.290%,

3/01/41

3/31

at

100.00

A  

317,726

West

Contra

Costa

Unified

School

District,

Contra

Costa

County,

California,

General

Obligation

Bonds,

Refunding

Series

2023:

3,245

5.000%,

8/01/31

-

BAM

Insured

,

(WI/DD)

No

Opt.

Call

AA  

3,776,077

3,925

5.000%,

8/01/33

-

BAM

Insured

,

(WI/DD)

No

Opt.

Call

AA  

4,694,221

6,000

5.000%,

8/01/34

-

BAM

Insured

,

(WI/DD)

8/33

at

100.00

AA  

7,162,560

Total

California

78,646,562

Colorado

-

18.5%

(13.7%

of

Total

Investments)

2,370

64th

Avenue

ARI

Authority,

Adams

County,

Colorado,

Special

Revenue

Bonds,

Series

2020,

6.500%,

12/01/43

12/25

at

103.00

N/R  

2,278,494

1,240

Arista

Metropolitan

District,

Broomfield

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Refunding

&

Improvement

Convertible

to

Unlimited

Tax

Series

2018A,

5.000%,

12/01/38

12/23

at

103.00

N/R  

1,205,044

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

4

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Colorado

(continued)

$

1,060

Aurora

Crossroads

Metropolitan

District

2,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A,

5.000%,

12/01/50

9/25

at

103.00

N/R  

$

941,693

2,285

Aurora

Crossroads

Metropolitan

District

2,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Subordinate

Series

2020B,

7.750%,

12/15/50

9/25

at

103.00

N/R  

2,119,543

5,220

Aurora

Highlands

Community

Authority

Board,

Adams

County,

Colorado,

Special

Tax

Revenue

Bonds,

Refunding

&

Improvement

Series

2021A,

5.750%,

12/01/51

12/28

at

103.00

N/R  

4,741,535

499

Aviation

Station

North

Metropolitan

District

2,

Denver

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Refunding

&

Improvement

Series

2019A,

4.000%,

12/01/29

9/24

at

103.00

N/R  

470,881

1,725

Belford

North

Metropolitan

District,

Douglas

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Series

2020A,

5.500%,

12/01/50

12/25

at

103.00

N/R  

1,551,034

1,000

Bennett

Ranch

Metropolitan

District

1,

Adams

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Convertible

to

Unlimited

Tax

Series

2021A,

5.000%,

12/01/51

3/26

at

103.00

N/R  

873,900

734

Blue

Lake

Metropolitan

District

3,

Lochbuie,

Weld

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Convertible

to

Unlimited

Tax

Series

2018A,

5.250%,

12/01/48,

(Pre-refunded

12/01/23)

12/23

at

103.00

N/R  (5)

760,035

500

Broadway

Park

North

Metropolitan

District

2,

Denver,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Refunding

&

Improvement

Series

2020,

5.000%,

12/01/40,

144A

12/25

at

103.00

N/R  

480,335

1,000

Broadway

Station

Metropolitan

District

2,

Denver

City

and

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Convertible

to

Unlimited

Series

2019A,

5.125%,

12/01/48

6/24

at

103.00

N/R  

797,620

1,500

Canyons

Metropolitan

District

5,

Douglas

County,

Colorado,

Limited

Tax

General

Obligation

and

Special

Revenue

Bonds,

Junior

Subordinate

Series

2016,

7.000%,

12/15/57

8/23

at

100.00

N/R  

1,032,465

1,755

Centerra

Metropolitan

District

1,

Loveland,

Colorado,

Special

Revenue

Bonds,

Refunding

&

Improvement

Series

2020A,

5.000%,

12/01/51

12/25

at

103.00

N/R  

1,530,009

1,450

Citadel

on

Colfax

Business

Improvement

District,

Aurora,

Colorado,

Special

Revenue

and

Tax

Supported

Bonds,

Senior

Series

2020A,

5.350%,

12/01/50

12/25

at

103.00

N/R  

1,299,026

Colorado

Educational

and

Cultural

Facilities

Authority,

Charter

School

Revenue

Bonds,

New

Summit

Charter

Academy

Project,

Series

2021A:

100

4.000%,

7/01/41,

144A

7/31

at

100.00

N/R  

82,642

100

4.000%,

7/01/51,

144A

7/31

at

100.00

N/R  

74,917

1,000

Colorado

Educational

and

Cultural

Facilities

Authority,

Revenue

Bonds,

Global

Village

Academy

-

Northglenn

Project,

Series

2020,

5.000%,

12/01/50,

144A

12/30

at

100.00

N/R  

854,480

1,890

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

AdventHealth

Obligated

Group,

Series

2023A-1,

0.000%,

11/15/58,

(Mandatory

Put

11/15/28)

11/27

at

101.76

AA  

2,057,870

5,370

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

AdventHealth

Obligated

Group,

Series

2023A-2,

5.000%,

11/15/57,

(Mandatory

Put

11/15/33)

11/32

at

101.57

AA  

6,171,258

500

Colorado

Health

Facilities

Authority,

Colorado,

Revenue

Bonds,

Cappella

of

Grand

Junction

Project,

Series

2019,

5.000%,

12/01/54,

144A

12/26

at

103.00

N/R  

327,285

16,000

Colorado

International

Center

Metropolitan

District

8,

Adams

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020,

6.500%,

12/01/50

9/25

at

103.00

N/R  

14,718,400

5

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Colorado

(continued)

$

6,500

Crystal

Valley

Metropolitan

District

2,

Douglas

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Refunding

&

Improvement

Series

2020A,

3.000%,

12/01/49

-

AGM

Insured

12/30

at

100.00

A1  

$

4,909,970

656

Dacono

Urban

Renewal

Authority,

Weld

County,

Colorado,

Tax

Increment

Revenue

Bonds,

Series

2020,

6.250%,

12/01/39

12/25

at

103.00

N/R  

623,830

Denver

City

and

County,

Colorado,

Airport

System

Revenue

Bonds,

Series

2022A:

1,000

5.000%,

11/15/31,

(AMT)

No

Opt.

Call

AA-  

1,111,220

1,355

5.500%,

11/15/40,

(AMT)

11/32

at

100.00

AA-  

1,523,101

4,000

Falcon

Area

Water

and

Wastewater

Authority

(El

Paso

County,

Colorado),

Tap

Fee

Revenue

Bonds,

Series

2022A,

6.750%,

12/01/34,

144A

9/27

at

103.00

N/R  

4,002,320

1,000

Foothills

Metropolitan

District,

Fort

Collins,

Colorado,

Special

Revenue

Bonds,

Series

2014,

6.000%,

12/01/38

12/24

at

100.00

N/R  

942,570

Fourth

North

Business

Improvement

District,

Silverthorne,

Summit

County,

Colorado,

Special

Revenue

and

Tax

Supported

Bonds,

Refunding

&

Improvement

Senior

Series

2022A:

1,425

5.250%,

12/01/32

12/30

at

102.00

N/R  

1,417,618

1,200

5.750%,

12/01/52

12/30

at

102.00

N/R  

1,174,920

2,000

Future

Legends

Sports

Park

Metropolitan

District

2,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A,

5.500%,

6/01/50,

144A

6/25

at

103.00

N/R  

1,726,440

5,250

Jefferson

Center

Metropolitan

District

1,

Arvada,

Jefferson

County,

Colorado,

Special

Revenue

Bonds,

Subordinate

Series

2020B,

5.750%,

12/15/50

12/23

at

103.00

N/R  

5,098,118

2,000

Jones

District

Community

Authority

Board,

Centennial,

Colorado,

Special

Revenue

Convertible

Capital

Appreciaiton

Bonds,

Series

2020A,

5.750%,

12/01/50

12/25

at

103.00

N/R  

1,717,300

1,000

Kinston

Metropolitan

District

5,

Loveland,

Larimer

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A,

5.125%,

12/01/50

12/25

at

103.00

N/R  

804,700

1,380

Lanterns

Metropolitan

District

1,

Castle

Rock,

Douglas

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2019A,

5.000%,

12/01/39

9/24

at

103.00

N/R  

1,332,100

3,000

Ledge

Rock

Center

Commercial

Metropolitan

District

(In

the

Town

of

Johnstown,

Weld

County,

Colorado),

Limited

Tax

General

Obligation

Bonds,

Series

2022,

7.375%,

11/01/52,

144A

11/29

at

103.00

N/R  

3,001,470

Mayberry

Community

Authority,

Colorado

Springs,

El

Paso

County,

Colorado,

Special

Revenue

Bonds,

Series

2021A:

500

5.000%,

12/01/41

6/26

at

103.00

N/R  

459,015

500

5.000%,

4/15/51

6/26

at

103.00

N/R  

430,420

500

Meadowbrook

Heights

Metropolitan

District,

Jefferson

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Series

2021A(3),

4.875%,

12/01/51

9/26

at

103.00

N/R  

393,590

480

Mountain

Sky

Metropolitan

District,

Fort

Lupton,

Weld

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A,

5.000%,

12/01/49

3/25

at

103.00

N/R  

434,554

2,000

North

Range

Metropolitan

District

3,

Adams

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A-3,

5.000%,

12/01/40

12/25

at

103.00

N/R  

1,857,360

1,810

Northfield

Metropolitan

District

2,

Fort

Collins,

Larimer

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A,

5.000%,

12/01/50

12/25

at

103.00

N/R  

1,582,845

Painted

Prairie

Public

Improvement

Authority,

Aurora,

Colorado,

Special

Revenue

Bonds,

Series

2019:

500

4.000%,

12/01/29

12/24

at

103.00

N/R  

469,495

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

6

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Colorado

(continued)

$

1,250

5.000%,

12/01/39

12/24

at

103.00

N/R  

$

1,192,175

285

Peak

Metropolitan

District

1,

Colorado

Springs,

El

Paso

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2021A,

5.000%,

12/01/51,

144A

3/26

at

103.00

N/R  

248,828

1,100

Peak

Metropolitan

District

3,

Colorado

Springs,

El

Paso

County,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2022A-1,

7.500%,

12/01/52

12/27

at

103.00

N/R  

1,102,277

925

Pinon

Pines

Metropolitan

District

2,

El

Paso

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Series

2020,

5.000%,

12/01/40

9/25

at

103.00

N/R  

882,617

7,040

Pioneer

Community

Authority

Board

(Weld

County,

Colorado),

Special

Revenue

Bonds,

Series

2022,

6.500%,

12/01/34

6/29

at

103.00

N/R  

6,650,336

3,665

Rampart

Range

Metropolitan

District

1,

Lone

Tree,

Colorado,

Limited

Tax

Supported

and

Special

Revenue

Bonds,

Refunding

&

Improvement

Series

2017,

5.000%,

12/01/42

12/27

at

100.00

A1  

3,787,191

2,000

Rampart

Range

Metropolitan

District

5,

Lone

Tree,

Douglas

County,

Colorado,

Limited

Tax

Supported

and

Special

Revenue

Bonds,

Series

2021,

4.000%,

12/01/41

10/26

at

102.00

N/R  

1,562,520

740

Sterling

Ranch

Community

Authority

Board,

Douglas

County,

Colorado,

Limited

Tax

Supported

District

2,

Subordinate

Series

2020B,

7.125%,

12/15/50

12/25

at

102.00

N/R  

711,791

Sterling

Ranch

Metropolitan

District

1,

El

Paso

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Series

2020:

2,350

5.000%,

12/01/40

12/25

at

103.00

N/R  

2,216,919

2,300

5.125%,

12/01/50

12/25

at

103.00

N/R  

2,065,078

2,175

Sunlight

Metropolitan

District,

Steamboat

Springs,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020,

5.000%,

12/01/50

12/25

at

103.00

N/R  

1,916,088

496

Tallman

Gulch

Metropolitan

District,  Douglas

County,

Colorado,

Limited

Tax

General

Obligation

Refunding

and

Improvement

Bonds,Subordinate

Limited

Tax

General

Obligation

Bonds,

Series

2018A,

5.250%,

12/01/47

8/23

at

103.00

N/R  

482,038

1,000

Transport

Metropolitan

District

3,

In

the

City

of

Aurora,

Adams

County,

Colorado,

General

Obligation

Limited

Bonds,

Convertible

Capital

Appreciation

Series

2021A-2,

5.500%,

12/01/51

3/26

at

103.00

N/R  

758,670

1,270

Transport

Metropolitan

District

3,

In

the

City

of

Aurora,

Adams

County,

Colorado,

General

Obligation

Limited

Bonds,

Series

2021A-1,

5.000%,

12/01/41

3/26

at

103.00

N/R  

1,144,207

5,000

Velocity

Metropolitan

District

5,

In

the

City

of

Aurora,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Convertible

Capital

Appreciation

Series

2020A-2,

6.000%,

12/01/50

12/23

at

81.31

N/R  

3,427,600

10,000

Velocity

Metropolitan

District

5,

In

the

City

of

Aurora,

Colorado,

Limited

Tax

General

Obligation

Bonds,

Series

2020A-1,

5.375%,

12/01/50

12/23

at

103.00

N/R  

9,240,000

1,500

Verve

Metropolitan

District

1,

Jefferson

County

and

the

City

and

County

of

Broomfield,

Colorado,

General

Obligation

Bonds,

Refunding

and

Improvement

Limited

Tax

Series

2021,

5.000%,

12/01/51

3/26

at

103.00

N/R  

1,311,405

2,000

Windler

Public

Improvement

Authority,

Aurora,

Colorado,

Limited

Tax

Supported

Revenue

Bonds,

Series

2021A-1,

4.125%,

12/01/51,

144A

9/26

at

103.00

N/R  

1,226,040

983

Woodmen

Heights

Metropolitan

District

2,

El

Paso

County,

Colorado,

General

Obligation

Limited

Tax

Bonds,

Taxable

Converting

to

Tax-

Exempt

Refunding

Subordinate

Series

2020B-1,

6.250%,

12/15/40

12/25

at

103.00

N/R  

908,439

Total

Colorado

120,215,641

7

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Connecticut

-

0.6%

(0.4%

of

Total

Investments)

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Nuvance

Health

Series

2019A:

$

1,325

4.000%,

7/01/34

7/29

at

100.00

Baa3  

$

1,316,361

1,250

4.000%,

7/01/36

7/29

at

100.00

Baa2  

1,213,338

1,255

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Series

2016B-1,

2.950%,

11/15/31

11/25

at

100.00

AAA  

1,175,897

Total

Connecticut

3,705,596

District

of

Columbia

-

0.2%

(0.1%

of

Total

Investments)

1,000

Washington

Convention

and

Sports

Authority,

Washington

D.C.,

Dedicated

Tax

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A,

4.000%,

10/01/37

10/30

at

100.00

A+  

1,009,970

Total

District

of

Columbia

1,009,970

Florida

-

14.1%

(10.4%

of

Total

Investments)

1,565

Ave

Maria

Stewardship

Community

District,

Florida,

Capital

Improvement

Revenue

Bonds,

Ave

Maria

National

Project,

Series

2021,

3.750%,

5/01/41

5/31

at

100.00

N/R  

1,296,775

Capital

Trust

Agency,

Florida,

Educational

Facilities

Lease

Revenue

Bonds,

South

Tech

Schools

Project,

Series

2020A:

1,230

5.000%,

6/15/40,

144A

6/27

at

100.00

N/R  

1,112,633

1,260

5.000%,

6/15/55,

144A

6/27

at

100.00

N/R  

1,060,013

Capital

Trust

Agency,

Florida,

Revenue

Bonds,

Babcock

Neighborhood

School

Inc,

Series

2021:

250

4.000%,

8/15/51,

144A

8/28

at

100.00

N/R  

179,895

450

4.200%,

8/15/56,

144A

8/28

at

100.00

N/R  

326,592

500

4.250%,

8/15/61,

144A

8/28

at

100.00

N/R  

358,145

1,000

Capital

Trust

Agency,

Florida,

Revenue

Bonds,

St.

Johns

Classical

Academy,

Refunding

Series

2021A,

4.000%,

6/15/56,

144A

6/30

at

100.00

N/R  

715,460

4,870

Currents

Community

Development

District,

Collier

County,

Florida,

Capital

Improvement

Revenue

Bonds,

Series

2020B,

4.250%,

5/01/41,

144A

No

Opt.

Call

N/R  

4,317,109

2,500

Cypress

Preserve

Community

Development

District,

Pasco

County,

Florida,

Special

Assessment

Bonds,

Assessment

Area

2,

Series

2019,

4.125%,

11/01/50

11/29

at

100.00

N/R  

2,026,300

1,000

Edgewater

East

Community

Development

District,

Osceola

County,

Florida,

Special

Assessment

Revenue

Bonds,

Assessment

Area

1

Series

2021,

4.000%,

5/01/51

5/31

at

100.00

N/R  

783,090

10,000

Florida

Development

Finance

Corporation,

Educational

Facilities

Revenue

Bonds,

Discovery

High

School

Project,

Series

2020A,

5.000%,

6/01/55,

144A

6/29

at

100.00

N/R  

8,293,000

2,450

Florida

Development

Finance

Corporation,

Florida,

Solid

Waste

Disposal

Revenue

Bonds,

Waste

Pro

USA,

Inc.

Project,

Series

2023,

6.125%,

7/01/32,

(AMT),

(Mandatory

Put

7/01/26),

144A

4/26

at

100.00

N/R  

2,467,958

19,650

Florida

Development

Finance

Corporation,

Florida,

Surface

Transportation

Facility

Revenue

Bonds,

Brightline

Passenger

Rail

Project,

Green

Series

2019B,

7.375%,

1/01/49,

(AMT),

144A

1/24

at

107.00

N/R  

19,541,925

Florida

Development

Finance

Corporation,

Florida,

Surface

Transportation

Facility

Revenue

Bonds,

Virgin

Trains

USA

Passenger

Rail

Project,

Series

2019A:

1,250

6.375%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/26),

144A

8/23

at

102.00

N/R  

1,210,337

6,890

6.500%,

1/01/49,

(AMT),

(Mandatory

Put

1/01/29),

144A

8/23

at

102.00

N/R  

6,648,919

Florida

Development

Finance

Corporation,

Healthcare

Facilties

Revenue

Bonds,

Lakeland

Regional

Health

Systems,

Series

2021:

450

4.000%,

11/15/35

11/31

at

100.00

A2  

451,876

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

8

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Florida

(continued)

$

1,000

4.000%,

11/15/37

11/31

at

100.00

A2  

$

981,470

1,940

4.000%,

11/15/38

11/31

at

100.00

A2  

1,886,786

2,750

Florida

Development

Finance

Corporation,

Revenue

Bonds,

Brightline

Florida

Passenger

Rail

Expansion

Project,

Series

2023A,

7.500%,

7/01/57,

(AMT),

(Mandatory

Put

8/15/24)

8/23

at

101.00

N/R  

2,706,550

22,505

Florida

Development

Finance

Corporation,

Revenue

Bonds,

Brightline

Passenger

Rail

Expansion

Project,

Series

2022A,

7.250%,

7/01/57,

(AMT),

(Mandatory

Put

10/03/23),

144A

8/23

at

104.00

N/R  

22,966,803

985

Forest

Lake

Community

Development

District,

Polk

County,

Florida,

Specia

Assessment

Bonds,

Assessment

Area

1

Project,

Series

2020,

4.000%,

5/01/51,

144A

5/30

at

100.00

N/R  

809,818

Grand

Oaks

Community

Development

District,

Saint

Johns

County,

Florida,

Special

Assessment

Bonds,

Assessment

Area

2,

Series

2020:

1,100

4.250%,

5/01/40

5/31

at

100.00

N/R  

985,160

1,500

4.500%,

5/01/52

5/31

at

100.00

N/R  

1,285,350

2,500

Greater

Orlando

Aviation

Authority,

Florida,

Special

Purpose

Airport

Facilities

Revenue

Bonds,

JetBlue

Airways

Corporation,

Series

2013,

5.000%,

11/15/36,

(AMT)

8/23

at

100.00

N/R  

2,497,400

1,000

Hammock

Reserve

Community

Development

District,

Haines

City,

Florida,

Special

Assessment

Revenue

Bonds,

Area1

Project,

Series

2020,

4.000%,

5/01/51

5/30

at

100.00

N/R  

849,410

1,225

Miami

Dade

County

Industrial

Development

Authority,

Florida,

Educational

Facilities

Revenue

Bonds,

Miami

Community

Charter

School

Inc

Project,

Series

2020A,

5.000%,

6/01/47,

144A

6/26

at

103.00

Ba2  

1,023,169

870

Miami-Dade

County,

Florida,

Seaport

Revenue

Bonds,

Refunding

Series

2022A,

5.250%,

10/01/52,

(AMT),

(UB)

(6)

10/32

at

100.00

A3  

913,335

2,840

Miami-Dade

County,

Florida,

Special

Obligation

Bonds,

Subordinate

Series

2009,

0.000%,

10/01/42

-

BAM

Insured

No

Opt.

Call

A2  

1,238,183

1,145

South

Broward

Hospital

District,

Florida,

Hospital

Revenue

Bonds,

South

Broward

Hospital

District

Obligated

Group,

Refunding

Series

2016A,

4.000%,

5/01/44

5/26

at

100.00

Aa3  

1,099,647

310

Three

Rivers

Community

Development

District,

Florida,

Special

Assessment

Revenue

Bonds,

South

Assessment

Area

Series

2021B,

4.625%,

5/01/36,

144A

9/23

at

100.00

N/R  

292,683

425

Tradition

Community

Development

District

9,

Port

Saint

Lucie,

Florida,

Special

Assessment

Bonds,

Series

2021,

2.700%,

5/01/31

No

Opt.

Call

N/R  

367,553

450

Village

Community

Development

District

15,

Florida,

Special

Assessment

Revenue

Bonds,

Series

2023,

4.250%,

5/01/28,

144A

No

Opt.

Call

N/R  

452,313

420

Windward

Community

Development

District,

Florida,

Special

Assessment

Bonds,

Series

2020A-2,

4.400%,

11/01/35

No

Opt.

Call

N/R  

397,622

Total

Florida

91,543,279

Georgia

-

0.6%

(0.5%

of

Total

Investments)

500

Gainesville

and

Hall

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Northeast

Georgia

Health

Services

Inc.,

Series

2021A,

3.000%,

2/15/51

-

BAM

Insured

2/31

at

100.00

AA  

375,670

1,000

Griffin-Spalding

County

Hospital

Authority,

Georgia,

Revenue

Anticipation

Certificates,

Wellstar

Health

System

Inc.,

Series

2017A,

4.000%,

4/01/42

4/27

at

100.00

A2  

963,080

2,750

Main

Street

Natural

Gas

Inc.,

Georgia,

Gas

Supply

Revenue

Bonds,

Series

2022C,

4.000%,

8/01/52,

(Mandatory

Put

11/01/27),

144A

5/27

at

100.81

BBB-  

2,655,180

Total

Georgia

3,993,930

9

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Guam

-

0.1%

(0.1%

of

Total

Investments)

Guam

A.B.

Won

Pat  International

Airport

Authority,

Revenue

Bonds,

Series

2021A:

$

765

3.099%,

10/01/28

No

Opt.

Call

Baa2  

$

664,005

450

4.460%,

10/01/43

10/31

at

100.00

Baa2  

337,401

Total

Guam

1,001,406

Illinois

-

5.8%

(4.3%

of

Total

Investments)

Chicago

Board

of

Education,

Illinois,

Dedicated

Capital

Improvement

Tax

Revenue

Bonds,

Series

2023:

1,000

5.250%,

4/01/34

4/33

at

100.00

A  

1,128,220

1,055

5.000%,

4/01/41

4/33

at

100.00

A  

1,112,117

1,275

5.500%,

4/01/43

4/33

at

100.00

A  

1,385,734

2,000

Chicago

Board

of

Education,

Illinois,

General

Obligation

Bonds,

Dedicated

Revenues,

Series

2021A,

5.000%,

12/01/34

12/30

at

100.00

BB+  

2,090,480

1,000

Chicago,

Illinois,

Midway

Airport

Revenue

Bonds,

Refunding

Second

Lien

Series

2014A,

5.000%,

1/01/31

1/24

at

100.00

A3  

1,002,180

1,750

Chicago,

Illinois,

Wastewater

Transmission

Revenue

Bonds,

Second

Lien

Project,

Refunding

Series

2023B,

5.000%,

1/01/36

-

AGM

Insured

7/32

at

100.00

A  

1,968,382

Chicago,

Illinois,

Water

Revenue

Bonds,

Refunding

Second

Lien

Series

2023B:

450

5.000%,

11/01/34

-

AGM

Insured

5/32

at

100.00

A  

509,954

450

5.000%,

11/01/35

-

AGM

Insured

5/32

at

100.00

A  

505,732

270

5.000%,

11/01/36

-

AGM

Insured

5/32

at

100.00

A  

300,648

270

5.000%,

11/01/38

-

AGM

Insured

5/32

at

100.00

A  

296,533

750

5.000%,

11/01/39

-

AGM

Insured

5/32

at

100.00

A  

821,280

2,475

Cook

County,

Illinois,

Sales

Tax

Revenue

Bonds,

Series

2021A,

4.000%,

11/15/39

11/30

at

100.00

AA-  

2,466,239

750

Illinois

Finance

Authority,

Revenue

Bonds,

Ascension

Health/

fkaPresence

Health

Network,

Series

2016C,

4.000%,

2/15/41

2/27

at

100.00

Aa2  

729,503

240

Illinois

Finance

Authority,

Revenue

Bonds,

Dominican

University,

Refunding

Series

2022,

5.000%,

3/01/34

9/32

at

100.00

BBB-  

246,514

875

Illinois

Finance

Authority,

Revenue

Bonds,

Lutheran

Home

and

Services,

Series

2019A,

5.000%,

11/01/49

11/26

at

103.00

N/R  

710,657

815

Illinois

Finance

Authority,

Revenue

Bonds,

Northshore

-

Edward-

Elmhurst

Health

Credit

Group,

Series

2022A,

5.000%,

8/15/47

8/32

at

100.00

AA-  

862,669

4,400

Illinois

State,

General

Obligation

Bonds,

Build

America

Taxable

Bonds,

Series

2010-4,

7.100%,

7/01/35

No

Opt.

Call

BBB+  

4,682,216

1,500

Illinois

State,

General

Obligation

Bonds,

May

Series

2014,

5.000%,

5/01/32

5/24

at

100.00

BBB+  

1,513,635

2,100

Illinois

State,

General

Obligation

Bonds,

October

Series

2020B,

4.000%,

10/01/33

10/30

at

100.00

BBB+  

2,146,347

1,730

Illinois

Toll

Highway

Authority,

Toll

Highway

Revenue

Bonds,

Senior

Series

2023A,

5.250%,

1/01/43

7/33

at

100.00

AA-  

1,924,556

Metropolitan

Pier

and

Exposition

Authority,

Illinois,

McCormick

Place

Expansion

Project

Bonds,

Refunding

Series

2022A:

1,290

0.000%,

12/15/35

12/31

at

90.33

BBB  

779,766

1,800

0.000%,

6/15/39

12/31

at

81.66

BBB  

888,786

1,500

0.000%,

6/15/40

12/31

at

79.15

BBB  

701,745

1,415

0.000%,

12/15/40

12/31

at

78.00

BBB  

647,235

550

0.000%,

12/15/41

12/31

at

75.58

BBB  

238,442

5,190

Romeoville,

Will

County,

Illinois,

Revenue

Bonds,

Lewis

University

Project,

Series

2015,

5.000%,

10/01/35

4/25

at

100.00

BBB  

5,220,725

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

10

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Illinois

(continued)

$

2,365

Sales

Tax

Securitization

Corporation,

Illinois,

Second

Lien

Sales

Tax

Securitization

Bonds,

Refunding

Series

2023C,

5.000%,

1/01/34

,

(WI/

DD)

1/33

at

100.00

AA-  

$

2,642,367

Total

Illinois

37,522,662

Indiana

-

2.8%

(2.1%

of

Total

Investments)

1,415

Gary

Local

Public

Improvement

Bond

Bank,

Indiana,

Economic

Development

Revenue

Bonds,

Drexel

Foundation

for

Educational

Excellence

Project,

Refunding

Series

2020A,

5.875%,

6/01/55,

144A

6/30

at

100.00

N/R  

1,213,659

1,190

Indiana

Finance

Authority,

Educational

Facilities

Revenue

Bonds,

Depauw

University

Project,

Series

2019,

5.000%,

7/01/37

7/29

at

100.00

Baa1  

1,227,366

1,625

Indiana

Finance

Authority,

Environmental

Improvement

Revenue

Bonds,

United

States

Steel

Corporation

Project,

Series

2020,

6.750%,

5/01/39,

(AMT)

11/30

at

100.00

B1  

1,839,159

1,000

Indiana

Finance

Authority,

Hospital

Revenue

Bonds,

Indiana

University

Health

Obligation

Group,

Long

Term

Rate

Series

2023B-1,

5.000%,

10/01/62,

(Mandatory

Put

7/01/28)

7/27

at

101.76

AA  

1,083,540

3,185

Indiana

Finance

Authority,

Hospital

Revenue

Bonds,

Indiana

University

Health

Obligation

Group,

Long

Term

Rate

Series

2023B-2,

5.000%,

10/01/60,

(Mandatory

Put

7/01/30)

7/29

at

101.68

AA  

3,551,243

3,375

Indiana

Finance

Authority,

Hospital

Revenue

Bonds,

Indiana

University

Health

Obligation

Group,

Long

Term

Rate

Series

2023B-3,

5.000%,

10/01/55,

(Mandatory

Put

7/01/32)

7/31

at

101.64

AA  

3,844,665

1,500

Indianapolis

Local

Public

Improvement

Bond

Bank,

Indiana,

Airport

Authority

Project

Revenue

Bonds,

Refunding

Series

2015I,

5.000%,

1/01/32,

(AMT)

1/25

at

100.00

A  

1,523,520

3,770

Whiting,

Indiana,

Environmental

Facilities

Revenue

Bonds,

BP

Products

North

America

Inc.

Project,

Series

2015,

4.400%,

11/01/45,

(AMT),

(Mandatory

Put

6/10/31)

No

Opt.

Call

A2  

3,844,910

Total

Indiana

18,128,062

Iowa

-

0.6%

(0.5%

of

Total

Investments)

2,500

Iowa

Finance

Authority,

Iowa,

Midwestern

Disaster

Area

Revenue

Bonds,

Alcoa

Inc.

Project,

Series

2012,

4.750%,

8/01/42

8/23

at

100.00

BB+  

2,424,850

1,745

Iowa

Finance

Authority,

Iowa,

Midwestern

Disaster

Area

Revenue

Bonds,

Iowa

Fertilizer

Company

Project,

Refunding

Series

2022,

5.000%,

12/01/50,

(Mandatory

Put

12/01/42)

12/29

at

103.00

BBB-  

1,781,418

Total

Iowa

4,206,268

Kentucky

-

1.3%

(0.9%

of

Total

Investments)

3,000

Bell

County,

Kentucky,

Special

Assessment

Industrial

Building

Revenue

Bonds,

Boone's

Ridge

Project,

Series

2020,

6.000%,

12/01/40

12/30

at

100.00

N/R  

2,668,110

2,175

Carroll

County,

Kentucky,

Environmental

Facilities

Revenue

Bonds,

Kentucky

Utilities

Company

Project,

Refunding

Series

2006B,

2.125%,

10/01/34,

(AMT)

6/31

at

100.00

A  

1,703,221

1,000

Newport,

Kentucky,

Special

Obligation

Revenue

Bonds,

Newport

Clifton

Project,

Series

2020B,

5.500%,

12/01/60

12/30

at

100.00

N/R  

816,490

3,000

Public

Energy

Authority

of

Kentucky,

Gas

Supply

Revenue

Bonds,

Series

2018A,

4.000%,

4/01/48,

(Mandatory

Put

4/01/24)

1/24

at

100.37

A1  

2,998,140

Total

Kentucky

8,185,961

Louisiana

-

0.9%

(0.7%

of

Total

Investments)

1,150

Louisiana

Publc

Facilities

Authority,

Lousiana,

Revenue

Bonds,

Lincoln

Preparatory

School

Project,

Series

2021A,

5.250%,

6/01/51,

144A

6/31

at

100.00

N/R  

951,993

11

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Louisiana

(continued)

$

2,720

Louisiana

Stadium

and

Exposition

District,

Revenue

Bonds,

Senior

Series

2023A,

5.000%,

7/01/43

7/33

at

100.00

A2  

$

2,961,019

2,000

Saint

James

Parish,

Louisiana,

Revenue

Bonds,

NuStar

Logistics,

L.P.

Project,

Series

2010,

6.350%,

7/01/40,

144A

6/30

at

100.00

BB-  

2,159,220

Total

Louisiana

6,072,232

Maryland

-

0.8%

(0.6%

of

Total

Investments)

200

Baltimore,

Maryland,

Special

Obligation

Bonds,

Harbor

Point

Project,

Refunding

Series

2022,

4.500%,

6/01/33,

144A

6/31

at

100.00

N/R  

196,406

5,170

Frederick

County,

Maryland,

Special

Tax

Limited

Obligation

Bonds,

Jefferson

Technology

Park

Project,

Refunding

Series

2020A,

5.000%,

7/01/43,

144A

7/30

at

102.00

N/R  

5,092,864

Total

Maryland

5,289,270

Massachusetts

-

0.7%

(0.5%

of

Total

Investments)

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Northeastern

University,

Series

2022:

395

5.000%,

10/01/39

10/32

at

100.00

A1  

446,492

2,755

5.000%,

10/01/41

10/32

at

100.00

A1  

3,089,760

935

5.000%,

10/01/44

10/32

at

100.00

A1  

1,038,682

Total

Massachusetts

4,574,934

Michigan

-

0.7%

(0.5%

of

Total

Investments)

5,000

Detroit,

Wayne

County,

Michigan,

General

Obligation

Bonds,

Financial

Recovery

Series

2014B-1,

4.000%,

4/01/44

8/23

at

100.00

N/R  

3,725,900

710

Gerald

R.

Ford

International

Airport

Authority,

Kent

County,

Michigan,

Revenue

Bonds,

Limited

Tax

General

Obligation

Series

2021,

5.000%,

1/01/46,

(AMT)

1/32

at

100.00

AAA  

748,873

Total

Michigan

4,474,773

Minnesota

-

1.4%

(1.0%

of

Total

Investments)

1,780

Minneapolis,

Minnesota,

Health

Care

System

Revenue

Bonds,

Allina

Health

System,

Series

2023A,

5.000%,

11/15/52,

(Mandatory

Put

11/15/28)

5/28

at

100.91

A1  

1,915,476

2,325

Minneapolis,

Minnesota,

Health

Care

System

Revenue

Bonds,

Allina

Health

System,

Series

2023B,

5.000%,

11/15/53,

(Mandatory

Put

11/15/30)

11/29

at

101.75

A1  

2,564,033

3,745

Saint

Paul

Housing

&

Redevelopment

Authority,

Minnesota,

Charter

School

Lease

Revenue

Bonds,

Community

School

of

Excellence,

Series

2023,

5.500%,

3/01/53,

144A

3/33

at

100.00

Ba1  

3,472,402

1,140

Saint

Paul

Housing

&

Redevelopment

Authority,

Minnesota,

Charter

School

Lease

Revenue

Bonds,

Hope

Community

Academy

Project,

Series

2020A,

5.000%,

12/01/55

12/28

at

102.00

BB-  

928,222

Total

Minnesota

8,880,133

Missouri

-

1.7%

(1.3%

of

Total

Investments)

180

Cape

Girardeau

County

Industrial

Development

Authority,

Missouri,

Health

Facilities

Revenue

Bonds,

Southeasthealth,

Series

2021,

4.000%,

3/01/41

3/31

at

100.00

BB-  

154,154

1,100

M150

and

135th

Street

Transporation

Development

District,

Kansas

City,

Missouri,

Transportation

Sales

Tax

Revenue

Bonds,

Series

2020A,

4.250%,

10/01/43

10/27

at

100.00

N/R  

916,817

2,990

Metropolitan

St.

Louis

Sewerage

District,

Missouri,

Wastewater

System

Revenue

Bonds,

Series

2023A,

5.000%,

5/01/39

5/33

at

100.00

AA+  

3,387,491

3,000

Missouri

Health

and

Educational

Facilities

Authority,

Health

Facilities

Revenue

Bonds,

Mercy

Health,

Series

2014F,

4.000%,

11/15/45

11/24

at

100.00

A+  

2,891,640

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

12

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Missouri

(continued)

Saint

Louis

Municipal

Finance

Corporation,

Missouri,

Leasehold

Revenue

Bonds,

Convention

Center,

Expansion

&

Improvement

Projects

Series

2020:

$

1,000

5.000%,

10/01/40

-

AGM

Insured

10/30

at

100.00

A1  

$

1,060,150

2,625

5.000%,

10/01/45

-

AGM

Insured

10/30

at

100.00

A1  

2,754,911

Total

Missouri

11,165,163

Montana

-

0.3%

(0.2%

of

Total

Investments)

1,975

Forsyth,

Rosebud

County,

Montana,

Pollution

Control

Revenue

Refunding

Bonds,

Northwestern

Corporation

Colstrip

Project,

Series

2023,

3.875%,

7/01/28

4/28

at

100.00

A3  

1,979,720

Total

Montana

1,979,720

Nebraska

-

0.6%

(0.4%

of

Total

Investments)

3,750

Central

Plains

Energy

Project,

Nebraska,

Gas

Project

Revenue

Bonds,

Project

5,

Series

2022-1,

5.000%,

5/01/53,

(Mandatory

Put

10/01/29)

7/29

at

100.22

A2  

3,890,512

Total

Nebraska

3,890,512

Nevada

-

0.5%

(0.4%

of

Total

Investments)

2,000

Director

of

Nevada

State

Department

of

Business

&

Industry,

Environmental

Improvement

Revenue

Bonds,

Fulcrum

Sierra

BioFuels

LLC

Project,

Green

Series

2020,

6.750%,

2/15/38,

144A

2/31

at

100.00

N/R  

1,779,480

Las

Vegas,

Nevada,

Local

Improvement

Bonds,

Special

Improvement

District

611

Sunstone

Phase

I

and

II,

Series

2020:

445

4.000%,

6/01/40

6/30

at

100.00

N/R  

393,977

1,135

4.125%,

6/01/50

6/30

at

100.00

N/R  

955,840

Total

Nevada

3,129,297

New

Hampshire

-

0.2%

(0.1%

of

Total

Investments)

1,250

New

Hampshire

Health

and

Education

Facilities

Authority,

Revenue

Bonds,

Catholic

Medical

Center,

Series

2017,

3.750%,

7/01/40

7/27

at

100.00

Baa3  

1,043,138

Total

New

Hampshire

1,043,138

New

Jersey

-

1.1%

(0.8%

of

Total

Investments)

1,685

New

Jersey

Economic

Development

Authority,

Energy

Facilities

Revenue

Bonds,

UMM

Energy

Partners,

LLC

Project,

Series

2012A,

7.000%,

6/15/30,

144A

8/23

at

100.00

Baa2  

1,670,677

750

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Motor

Vehicle

Surcharge,

Refunding

Subordinate

Series

2017A,

3.375%,

7/01/30

7/27

at

100.00

BB+  

726,390

750

New

Jersey

Economic

Development

Authority,

Water

Facilities

Revenue

Bonds,

New

Jersey-American

Water

Company

Inc.

Project,

Refunding

Series

2020B,

3.750%,

11/01/34,

(AMT),

(Mandatory

Put

6/01/28)

No

Opt.

Call

A+  

746,753

3,750

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Refunding

Series

2014A,

5.000%,

11/01/39

11/24

at

100.00

Baa2  

3,763,800

Total

New

Jersey

6,907,620

New

Mexico

-

1.0%

(0.7%

of

Total

Investments)

7,000

Winrock

Town

Center

Tax

Increment

Development

District

1,

Albuquerque,

New

Mexico,

Gross

Receipts

Tax

Increment

Bonds,

Subordinate

Lien

Series

2020,

8.000%,

5/01/40,

144A

11/23

at

103.00

N/R  

6,307,700

Total

New

Mexico

6,307,700

New

York

-

13.2%

(9.8%

of

Total

Investments)

1,240

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Albert

Einstein

College

of

Medicine,

Inc,

Series

2023,

7.250%,

6/01/55,

144A

12/30

at

100.00

N/R  

1,241,203

13

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

New

York

(continued)

$

5,000

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020A-1,

5.500%,

6/01/55,

144A

12/30

at

100.00

N/R  

$

3,927,800

Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020C-1:

1,310

5.000%,

6/01/40,

144A

12/30

at

100.00

N/R  

1,071,082

3,000

5.000%,

6/01/55,

144A

12/30

at

100.00

N/R  

2,170,860

10,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Catholic

Health

System

Obligated

Group

Series

2019A,

4.000%,

7/01/45

7/29

at

100.00

Caa2  

7,144,100

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B:

7,630

5.000%,

7/01/32

7/26

at

100.00

Baa2  

7,846,997

1,095

5.000%,

7/01/35

7/26

at

100.00

Baa3  

1,121,204

10,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2014D-1,

5.250%,

11/15/44

11/24

at

100.00

BBB+  

10,075,900

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2023

Series

A-1:

2,785

5.250%,

8/01/42

8/32

at

100.00

Aa1  

3,160,892

4,640

5.000%,

8/01/43

8/32

at

100.00

Aa1  

5,104,510

3,005

5.000%,

8/01/44

8/32

at

100.00

Aa1  

3,284,856

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2023

Series

1:

1,000

5.000%,

8/01/34

8/33

at

100.00

AA  

1,186,080

1,000

5.000%,

8/01/35

8/33

at

100.00

AA  

1,172,720

2,500

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2023

Series

E-1,

5.250%,

4/01/44

4/33

at

100.00

AA  

2,827,525

3,530

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Bidding

Group

1

Series

2022A,

5.000%,

3/15/41

9/32

at

100.00

AA+  

3,942,551

3,500

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2022A,

5.000%,

3/15/45

9/32

at

100.00

Aa1  

3,851,575

180

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

4.000%,

10/31/41,

(AMT)

10/31

at

100.00

BBB-  

164,210

2,500

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

5.000%,

7/01/41,

(AMT)

7/24

at

100.00

Baa2  

2,499,250

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Series

2020:

10,240

5.250%,

8/01/31,

(AMT)

8/30

at

100.00

B+  

10,636,390

3,400

5.375%,

8/01/36,

(AMT)

8/30

at

100.00

B+  

3,446,444

320

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Series

2021,

2.250%,

8/01/26,

(AMT)

No

Opt.

Call

B  

308,179

1,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2020,

4.000%,

10/01/30,

(AMT)

No

Opt.

Call

BB+  

996,440

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Thirty-Eighth

Series

2023:

2,250

5.000%,

7/15/34,

(AMT)

7/33

at

100.00

AA-  

2,540,408

565

5.000%,

7/15/35,

(AMT)

7/33

at

100.00

AA-  

633,512

490

5.000%,

7/15/37,

(AMT)

7/33

at

100.00

AA-  

538,520

450

5.000%,

7/15/38,

(AMT)

7/33

at

100.00

AA-  

491,071

590

5.000%,

7/15/39,

(AMT)

7/33

at

100.00

AA-  

641,749

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

14

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

New

York

(continued)

$

3,960

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Taxable

Series

2007B,

5.693%,

1/01/28

-

SYNCORA

GTY

Insured,

144A

No

Opt.

Call

C  

$

3,787,621

Total

New

York

85,813,649

North

Carolina

-

0.4%

(0.3%

of

Total

Investments)

Greater

Asheville

Regional

Airport

Authority,

North

Carolina,

Airport

System

Revenue

Bonds,

Series

2023:

335

5.250%,

7/01/41

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

363,495

340

5.250%,

7/01/43

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

366,615

1,365

5.250%,

7/01/48

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

1,461,014

370

North

Carolina

Medical

Care

Commission,

Retirement

Facilities

First

Mortgage

Revenue

Bonds,

The

Forest

at

Duke,

Inc.,

Series

2021,

4.000%,

9/01/46

9/28

at

103.00

BBB-  

300,422

Total

North

Carolina

2,491,546

Ohio

-

3.4%

(2.5%

of

Total

Investments)

2,115

Buckeye

Tobacco

Settlement

Financing

Authority,

Ohio,

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A-2

Class

1,

4.000%,

6/01/48

6/30

at

100.00

BBB+  

1,949,395

675

Butler

County,

Ohio,  Hospital

Facilities

Revenue

Bonds,

UC

Health,

Refunding

Series

2017,

4.000%,

11/15/23

No

Opt.

Call

Baa3  

673,326

1,000

Columbus-Franklin

County

Finance

Authority,

Ohio,

Tax

Increment

Financing

Revenue

Bonds,

Bridge

Park

D

Block

Project,

Series

2019A-

1,

5.000%,

12/01/51

6/29

at

100.00

N/R  

966,130

1,000

Ohio

Air

Quality

Development

Authority,

Ohio,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Corporation

Project,

Refunding

Series

2009D,

3.375%,

8/01/29

No

Opt.

Call

BBB-  

910,300

1,000

Ohio

State,

Hospital

Revenue

Bonds,

University

Hospitals

Health

System,

Inc.,

Fixed

Interest

Rate

Series

2020A,

3.000%,

1/15/45

-

BAM

Insured

1/30

at

100.00

A2  

780,720

21,000

Southern

Ohio

Port

Authority,

Ohio,

Facility

Revenue

Bonds,

Purecycle

Project,

Series

2020A,

7.000%,

12/01/42,

(AMT),

144A

12/27

at

103.00

N/R  

15,708,210

1,000

Southern

Ohio

Port

Authority,

Ohio,

Facility

Revenue

Bonds,

Purecycle

Project,

Series

2020B,

10.000%,

12/01/27,

(AMT),

144A

12/26

at

105.00

N/R  

918,270

Total

Ohio

21,906,351

Pennsylvania

-

4.6%

(3.4%

of

Total

Investments)

1,000

Allegheny

County

Hospital

Development

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Series

2019A,

4.000%,

7/15/37

7/29

at

100.00

A  

999,360

930

Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

615

Waterfront

Project,

Senior

Series

2021,

6.000%,

5/01/42,

144A

5/31

at

100.00

N/R  

956,551

500

Beaver

County

Industrial

Development

Authority,

Pennsylvania,

Pollution

Control

Revenue

Refunding

Bonds,

FirstEnergy

Generation

Project,

Series

2008B,

3.750%,

10/01/47

4/31

at

100.00

BBB-  

368,010

1,000

Dauphin

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

Harrisburg

University

of

Science

&

Technology

Project,

Series

2017,

5.125%,

10/15/41,

144A

10/27

at

100.00

BB  

907,910

2,000

Dauphin

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

Harrisburg

University

of

Science

&

Technology

Project,

Series

2020,

6.250%,

10/15/53,

144A

10/28

at

100.00

BB  

2,005,900

15

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Pennsylvania

(continued)

$

9,000

Geisinger

Authority,

Montour

County,

Pennsylvania,

Health

System

Revenue

Bonds,

Geisinger

Health

System,

Series

2017A-2,

5.000%,

2/15/39

2/27

at

100.00

A2  

$

9,285,930

3,000

Montgomery

County

Industrial

Development

Authority,

Pennsylvania,

Facilities

Revenue

Bonds,

Constellation

Energy

Generation

LLC

Project,

Refunding

Series

2023A,

4.100%,

10/01/53,

(Mandatory

Put

4/03/28)

No

Opt.

Call

BBB  

3,054,750

1,300

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

KDC

Agribusiness

Fairless

Hills

LLC

Project,

Series

2021A,

10.000%,

12/01/31

(4),(7)

No

Opt.

Call

N/R  

810,875

2,960

Pennsylvania

Economic

Development

Financing

Authority,

Parking

System

Revenue

Bonds,

Capitol

Region

Parking

System,

Junior

Guaranteed

Series

2013B,

0.000%,

1/01/45

-

BAM

Insured

No

Opt.

Call

A3  

1,044,910

2,040

Pennsylvania

Economic

Development

Financing

Authority,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Series

2017A,

4.000%,

11/15/42

11/27

at

100.00

A  

1,976,066

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Series

2022B:

30

5.250%,

12/01/41

12/32

at

100.00

A1  

33,508

485

5.250%,

12/01/42

12/32

at

100.00

A1  

539,820

1,965

5.250%,

12/01/47

12/32

at

100.00

A1  

2,160,282

5,000

5.250%,

12/01/52

12/32

at

100.00

A1  

5,459,050

Total

Pennsylvania

29,602,922

Puerto

Rico

-

3.2%

(2.3%

of

Total

Investments)

409

HTA

Claas

6,

Puerto

Rico

Highway

and

Transportation

Authority

Highway

Revenue

Bonds,

Series

2022,

5.250%,

7/01/38

8/23

at

100.00

N/R  

409,449

6,500

Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B,

4.000%,

7/01/42,

144A

7/31

at

100.00

N/R  

5,732,415

8,000

Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010XX,

5.250%,

7/01/40

(4)

8/23

at

100.00

D  

3,000,000

3,065

Puerto

Rico

Highway

and

Transportation

Authority,

Restructured

Toll

Revenue

Bonds,

Series

2022A,

5.000%,

7/01/62

7/32

at

100.00

N/R  

3,019,025

2,150

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1,

4.550%,

7/01/40

7/28

at

100.00

N/R  

2,083,758

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1:

1,030

0.000%,

7/01/33

7/31

at

89.94

N/R  

628,767

0

(8)

4.000%,

7/01/35

7/31

at

103.00

N/R  

59

1,117

4.000%,

7/01/37

7/31

at

103.00

N/R  

1,003,980

839

4.000%,

7/01/41

7/31

at

103.00

N/R  

722,612

873

4.000%,

7/01/46

7/31

at

103.00

N/R  

729,219

6,474

Puerto

Rico,

General

Obligation

Bonds,

Vintage

CW

NT

Claims

Taxable

Series

2022,

0.000%,

11/01/43

No

Opt.

Call

N/R  

3,326,182

Total

Puerto

Rico

20,655,466

South

Carolina

-

0.3%

(0.2%

of

Total

Investments)

1,000

South

Carolina

Jobs-Economic

Development

Authority,

Educational

Facilities

Revenue

Bonds,

Columbia

College,

Refunding

Series

2020A,

5.625%,

10/01/40

10/27

at

103.00

N/R  

913,080

1,000

South

Carolina

Jobs-Economic

Development

Authority,

Educational

Facilities

Revenue

Bonds,

Horse

Creek

Academy

Project,

Series

2021A,

5.000%,

11/15/55,

144A

11/26

at

100.00

N/R  

859,210

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

16

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

South

Carolina

(continued)

$

250

South

Carolina

Jobs-Economic

Development

Authority,

Retirement

Community

Revenue

Notes,

Kiawah

Life

Plan

Village,

Inc.

Project,

Series

2021A,

8.750%,

7/01/25

8/23

at

100.00

N/R  

$

296,497

Total

South

Carolina

2,068,787

Tennessee

-

4.4%

(3.3%

of

Total

Investments)

7,250

Johnson

City

Health

and

Educational

Facilities

Board,

Tennessee,

Revenue

Bonds,

Ballad

Health,

Long

Term

Interest

Rate

Series

2023B,

5.000%,

7/01/33

No

Opt.

Call

A-  

8,196,778

20,000

The

Tennessee

Energy

Acquisition

Corporation,

Gas

Project

Revenue

Bonds,

Series

2023A-1,

5.000%,

5/01/53,

(Mandatory

Put

5/01/28)

2/28

at

100.22

A2  

20,611,000

Total

Tennessee

28,807,778

Texas

-

17.5%

(12.9%

of

Total

Investments)

500

Abilene

Convention

Center

Hotel

Development

Corporation,

Texas,

Hotel

Revenue

Bonds,

Second-Lien

Series

2021B,

5.000%,

10/01/50,

144A

10/31

at

100.00

N/R  

430,120

755

Bexar

County,

Texas,

Venue

Project

Revenue

Bonds,

Taxable

Refunding

Combined

Venue

Tax

Series

2021,

3.031%,

8/15/41

-

AGM

Insured

8/31

at

100.00

A-  

557,265

1,000

Central

Texas

Regional

Mobility

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021D,

4.000%,

1/01/44

7/31

at

100.00

A3  

947,760

225

City

of

Midlothian,

Texas,

Westside

Preserve

Public

Improvement

District

Improvement

Area

#1

Project,

Special

Assessment

Revenue

Bonds,

Series

2022,

4.750%,

9/15/32,

144A

No

Opt.

Call

N/R  

219,141

4,605

Dallas,

Texas,

General

Obligation

Bonds,

Refunding

and

Improvement

Series

2023A,

5.000%,

2/15/43

2/33

at

100.00

AA-  

5,104,689

1,000

Flower

Mound,

Texas,

Special

Assessment

Revenue

Bonds,

River

Walk

Public

Improvement

District

1,

Refunding

Series

2021,

3.500%,

9/01/36,

144A

9/31

at

100.00

N/R  

832,100

1,280

Fort

Bend

County

Industrial

Development

Corporation,

Texas,

Revenue

Bonds,

NRG

Energy

Inc.

Project,

Series

2012B,

4.750%,

11/01/42

8/23

at

100.00

Baa2  

1,246,963

1,000

Harris

County

Industrial

Development

Corporation,

Texas,

Revenue

Bonds,

Energy

Transfer

LP

Project,

Marine

Terminal

Refunding

Series

2023,

4.050%,

11/01/50,

(Mandatory

Put

6/01/33)

3/33

at

100.00

BBB-  

1,007,550

3,990

Harris

County-Houston

Sports

Authority,

Texas,

Revenue

Bonds,

Junior

Lien

Series

2001H,

0.000%,

11/15/24

-

NPFG

Insured

No

Opt.

Call

BB+  

3,783,517

Houston,

Texas,

Airport

System

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2023A:

4,500

5.000%,

7/01/32

-

AGM

Insured,

(AMT)

No

Opt.

Call

A1  

4,999,995

3,330

5.000%,

7/01/33

-

AGM

Insured,

(AMT)

No

Opt.

Call

A1  

3,732,164

3,500

5.000%,

7/01/34

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

3,904,110

1,250

5.000%,

7/01/38

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

1,350,875

1,250

5.250%,

7/01/39

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

1,378,250

2,500

5.250%,

7/01/40

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

2,744,100

2,500

5.250%,

7/01/41

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

2,736,025

1,250

5.250%,

7/01/42

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

1,365,125

1,715

5.250%,

7/01/43

-

AGM

Insured,

(AMT)

7/33

at

100.00

A1  

1,863,691

Love

Field

Airport

Modernization

Corporation,

Texas,

General

Airport

Revenue

Bonds,

Refunding

Series

2021:

5,610

4.000%,

11/01/38

-

AGM

Insured,

(AMT)

11/31

at

100.00

A  

5,499,651

1,000

4.000%,

11/01/39

-

AGM

Insured,

(AMT)

11/31

at

100.00

A  

973,510

7,050

Lower

Colorado

River

Authority,

Texas,

Revenue

Bonds,

Refunding

Series

2023B,

5.000%,

5/15/39,

(Mandatory

Put

5/15/28)

2/28

at

100.00

A  

7,539,763

17

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Texas

(continued)

$

500

Marble

Falls,

Burnet

County,

Texas,

Special

Assessment

Revenue

Bonds,

Thunder

Rock

Public

Improvement

District

Improvement

Area

1

Project,

Series

2021,

4.125%,

9/01/41,

144A

9/31

at

100.00

N/R  

$

435,080

1,500

Matagorda

County

Navigation

District

1,

Texas,

Pollution

Control

Revenue

Bonds,

AEP

Texas

Central

Company

Project,

Remarketing,

Series

2008-1,

4.000%,

6/01/30

8/23

at

100.00

Baa2  

1,494,555

625

McLendon-Chisholm,

Texas,

Special

Assessment

Revenue

Bonds,

Sonoma

Public

Improvement  District

Improvement

Area

3

Project,

Series

2021,

3.625%,

9/15/41,

144A

9/31

at

100.00

N/R  

496,213

500

Mesquite,

Texas,

Special

Assessment

Revenue

Bonds,

Solterra

Public

Improvement

District

Improvement

Area

A-1

Projects,

Series

2023,

5.500%,

9/01/43,

144A

,

(WI/DD)

9/33

at

100.00

N/R  

496,970

4,175

New

Hope

Cultural

Education

Facilities

Finance

Corporation,

Texas,

Education

Revenue

Bonds,

Southwest

Preparatory

School,

Series

2020A,

5.000%,

8/15/50,

144A

8/25

at

103.00

BB+  

3,465,041

New

Hope

Cultural

Education

Facilities

Finance

Corporation,

Texas,

Senior

Living

Revenue

Bonds,

Sanctuary

LTC

LLC

Project,

Series

2021A-1:

6,795

5.250%,

1/01/42

1/28

at

103.00

N/R  

5,164,812

6,465

5.500%,

1/01/57

1/28

at

103.00

N/R  

4,630,750

Pflugerville

Independent

School

District,

Travis

and

Williamson

Counties,

Texas,

General

Obligation

Bonds,

School

Building

Series

2023A:

1,485

4.000%,

2/15/42

2/33

at

100.00

AA+  

1,464,106

2,075

4.000%,

2/15/44

2/33

at

100.00

AA+  

2,021,071

Pflugerville,

Texas,

Certificates

of

Obligation,

Combination

Tax

and

Revenue

Series

2023:

795

5.000%,

8/01/32

No

Opt.

Call

Aa1  

930,023

1,460

5.000%,

8/01/33

8/32

at

100.00

Aa1  

1,706,944

1,350

5.000%,

8/01/34

8/32

at

100.00

Aa1  

1,573,331

1,860

5.000%,

8/01/35

8/32

at

100.00

Aa1  

2,148,486

745

5.000%,

8/01/36

8/32

at

100.00

Aa1  

851,639

450

5.000%,

8/01/37

8/32

at

100.00

Aa1  

508,702

3,500

Port

Beaumont

Industrial

Development

Authority,

Texas,

Facility

Revenue

Bonds,

Jefferson

Gulf

Coast

Energy

Project,

Series

2021B,

4.100%,

1/01/28,

144A

8/23

at

102.05

N/R  

2,784,005

2,020

Sachse,

Texas,

Special

Assessment

Bonds,

Sachse

Public

Improvement

District

1

Major

Improvement

Area

Project,

Series

2020,

5.375%,

9/15/40,

144A

9/30

at

100.00

N/R  

1,976,893

2,000

Spring

Independent

School

District,

Hardin

County,

Texas,

Unlimited

Tax

School

Building

Bonds,

Series

2023,

4.000%,

8/15/52

8/33

at

100.00

AA-  

1,933,860

450

Tarrant

County

Cultural

Education

Facilities

Finance

Corporation,

Texas,

Hospital

Revenue

Bonds,

Hendrick

Medical

Center,

Taxable

Series

2021,

3.292%,

9/01/40

-

AGM

Insured

9/30

at

100.00

A1  

335,291

Tarrant

County

Hospital

District,

Texas,

General

Obligation

Bonds,

Limited

Tax

Series

2023:

1,000

4.000%,

8/15/43

8/32

at

100.00

AA  

976,480

2,165

4.250%,

8/15/48

8/32

at

100.00

AA  

2,148,936

4,750

5.250%,

8/15/48

8/32

at

100.00

AA  

5,239,012

1,500

5.250%,

8/15/53

8/32

at

100.00

AA  

1,644,510

Texas

State,

General

Obligation

Bonds,

Water

Financial

Assistance

Bonds,

Economic

Distressed

Areas

Program

Series

2023C:

1,350

5.000%,

8/01/31

No

Opt.

Call

AAA  

1,569,888

1,055

5.000%,

8/01/32

No

Opt.

Call

AAA  

1,243,349

450

5.000%,

8/01/33

No

Opt.

Call

AAA  

536,891

450

5.000%,

8/01/34

8/33

at

100.00

AAA  

532,444

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

18

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Texas

(continued)

$

450

5.000%,

8/01/35

8/33

at

100.00

AAA  

$

527,301

Texas

State,

General

Obligation

Bonds,

Water

Financial

Assistance

Bonds,

Series

2023A:

500

5.000%,

8/01/41

8/33

at

100.00

AAA  

560,920

515

5.000%,

8/01/42

8/33

at

100.00

AAA  

576,043

555

5.000%,

8/01/43

8/33

at

100.00

AAA  

619,619

2,890

Texas

Water

Development

Board,

State

Water

Implementation

Revenue

Fund

Bonds,

Master

Trust

Series

2020,

4.000%,

10/15/45

10/30

at

100.00

AAA  

2,840,610

650

Texas

Water

Development

Board,

State

Water

Implementation

Revenue

Fund

Bonds,

Master

Trust

Series

2021,

4.000%,

10/15/51

10/31

at

100.00

AAA  

628,056

6,915

Texas

Water

Development

Board,

State

Water

Implementation

Revenue

Fund

Bonds,

Master

Trust

Series

2022,

4.800%,

10/15/52

10/32

at

100.00

AAA  

7,369,800

Total

Texas

113,647,995

Utah

-

0.8%

(0.6%

of

Total

Investments)

500

Red

Bridge

Public

Infrastructure

District

1,

Utah,

Limited

Tax

General

Obligation

Bonds,

Series

2021A,

4.125%,

2/01/41,

144A

2/26

at

103.00

N/R  

392,860

Salt

Lake

City,

Utah,

Airport

Revenue

Bonds,

International

Airport

Series

2023A:

715

5.000%,

7/01/34,

(AMT)

,

(WI/DD)

7/33

at

100.00

A+  

799,449

645

5.250%,

7/01/43,

(AMT)

,

(WI/DD)

7/33

at

100.00

A2  

703,108

970

Utah

Charter

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Paradigm

High

School

Project,

Series

2020A,

5.125%,

7/15/51,

144A

1/25

at

102.00

N/R  

745,687

2,540

Wohali

Public

Infrastructure

District

1,

Utah,

Special

Assessment

Revenue

Bonds,

Assessment

Area

1

Series

2023,

7.000%,

12/01/42,

144A

9/28

at

103.00

N/R  

2,544,394

Total

Utah

5,185,498

Virgin

Islands

-

0.5%

(0.4%

of

Total

Investments)

2,365

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A,

5.000%,

10/01/32

No

Opt.

Call

N/R  

2,382,123

1,000

West

Indian

Company

Limited,

Virgin

Islands,

Port

Facilities

Revenue

Bonds,

WICO

Financing,

Series

2022A,

6.125%,

10/01/42,

144A

10/29

at

104.00

N/R  

958,040

Total

Virgin

Islands

3,340,163

Virginia

-

1.3%

(1.0%

of

Total

Investments)

2,790

Virginia

College

Building

Authority,

Educational

Facilities

Revenue

Bonds,

21st

Century

Collage

&

Equipment

Programs,

Series

2023A,

5.250%,

2/01/42

2/33

at

100.00

AA+  

3,186,682

Virginia

Port

Authority,

Commonwealth

Port

Fund

Revenue

Bonds,

Series

2023A:

270

5.000%,

7/01/41

7/33

at

100.00

AA+  

307,994

430

5.000%,

7/01/42

7/33

at

100.00

AA+  

488,287

525

5.000%,

7/01/43

7/33

at

100.00

AA+  

595,051

2,000

Virginia

Small

Business

Financing

Authority,

Private

Activity

Revenue

Bonds,

Transform

66

P3

Project,

Senior

Lien

Series

2017,

5.000%,

12/31/47,

(AMT)

6/27

at

100.00

Baa3  

2,024,680

770

Virginia

Small

Business

Financing

Authority,

Revenue

Bonds,

95

Express

Lanes

LLC

Project,

Refunding

Senior

Lien

Series

2022,

5.000%,

12/31/47,

(AMT)

12/32

at

100.00

Baa1  

794,794

1,000

Virginia

Small

Business

Financing

Authority,

Tourism

Development

Financing

Program

Revenue

Bonds,

Virginia

Beach

Oceanfront

South

Hotel

Project,

Senior

Series

2020A-1,

8.000%,

10/01/43,

144A

10/30

at

120.40

N/R  

1,034,190

Total

Virginia

8,431,678

19

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Washington

-

1.2%

(0.9%

of

Total

Investments)

$

2,145

Washington

Health

Care

Facilities

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014D,

5.000%,

10/01/41

10/24

at

100.00

A  

$

2,139,251

1,915

Washington

Health

Care

Facilities

Authority,

Revenue

Bonds,

Providence

Saint

Joseph

Health,

Refunding

Series

2021B,

4.000%,

10/01/42,

(Mandatory

Put

10/01/30)

No

Opt.

Call

A  

1,921,396

3,500

Washington

State,

General

Obligation

Bonds,

Various

Purpose

Series

2022A-2,

5.000%,

8/01/40

8/31

at

100.00

AA+  

3,890,740

Total

Washington

7,951,387

West

Virginia

-

1.0%

(0.7%

of

Total

Investments)

3,890

West

Virginia

Economic

Development

Authority,

Dock

and

Wharf

Facilities

Revenue

Bonds,

Empire

Trimodal

Terminal,

LLC

Project,

Series

2020,

7.625%,

12/01/40,

144A

12/27

at

103.00

N/R  

3,138,297

1,000

West

Virginia

Economic

Development

Authority,

Solid

Waste

Disposal

Facilities

Revenue

Bonds,

Arch

Resources

Project,

Series

2021,

4.125%,

7/01/45,

(AMT),

(Mandatory

Put

7/01/25)

1/25

at

100.00

B2  

986,500

West

Virginia

Hospital

Finance

Authority,

Revenue

Bonds,

West

Virginia

University

Health

System,

Improvement

Series

2023A:

1,035

5.000%,

6/01/41

6/33

at

100.00

A  

1,107,781

1,000

5.000%,

6/01/43

6/33

at

100.00

A  

1,063,610

Total

West

Virginia

6,296,188

Wisconsin

-

3.9%

(2.9%

of

Total

Investments)

3,000

Gillett,

Wisconsin,

Solid

Waste

Disposal

Revenue

Bonds,

WI

RNG

Hub

North

LLC

Renewable

Natural

Gas

Production

Plant

Project,

Series

2021A,

5.500%,

12/01/32,

144A

12/26

at

100.00

N/R  

2,507,820

6,350

Public

Finance

Authority

of

Wisconsin,

Charter

School

Revenue

Bonds,

Freedom

Classical

Academy

Inc.,

Series

2020A,

5.000%,

1/01/56,

144A

1/28

at

100.00

N/R  

5,328,920

200

Public

Finance

Authority

of

Wisconsin,

Education

Revenue

Bonds,

Shining

Rock

Classical

Academy,

Series

2022A,

6.125%,

6/15/57

6/29

at

101.00

N/R  

185,912

1,000

Public

Finance

Authority

of

Wisconsin,

Education

Revenue

Bonds,

The

Capitol

Encore

Academy,

Series

2021A,

5.000%,

6/01/56,

144A

6/28

at

100.00

N/R  

812,280

1,000

Public

Finance

Authority

of

Wisconsin,

Educational

Facility

Revenue

Bonds,

LEAD

Academy

Project,

Series

2021,

5.000%,

8/01/51,

144A

8/28

at

100.00

N/R  

806,630

Public

Finance

Authority

of

Wisconsin,

Health

Care

Facilities

Revenue

Bonds,

Appalachian

Regional

Healthcare

System

Obligated

Group,

Series

2021A:

300

5.000%,

7/01/35

1/31

at

100.00

BBB  

320,094

190

5.000%,

7/01/38

1/31

at

100.00

BBB  

196,830

2,000

Public

Finance

Authority

of

Wisconsin,

Hotel

Revenue

Bonds,

Grand

Hyatt

San

Antonio

Hotel

Acquisition

Project,

Senior

Lien

Series

2022A,

5.000%,

2/01/52

2/32

at

100.00

BBB-  

1,994,720

Public

Finance

Authority

of

Wisconsin,

Hotel

Revenue

Bonds,

Grand

Hyatt

San

Antonio

Hotel

Acquisition

Project,

Subordinate

Lien

Series

2022B:

1,670

5.625%,

2/01/46,

144A

2/32

at

100.00

N/R  

1,678,434

2,000

6.000%,

2/01/62,

144A

2/32

at

100.00

N/R  

2,033,180

5,000

Public

Finance

Authority

of

Wisconsin,

Limited

Obligation

PILOT

Revenue

Bonds,

American

Dream

@

Meadowlands

Project,

Series

2017,

7.000%,

12/01/50,

144A

12/27

at

100.00

N/R  

4,560,500

1,000

Public

Finance

Authority

of

Wisconsin,

Pollution

Control

Revenue

Bonds,

Duke

Energy

Progress

Project,

Refunding

Series

2022B,

4.000%,

10/01/46,

(Mandatory

Put

10/01/30)

No

Opt.

Call

A  

1,010,810

Nuveen

Dynamic

Municipal

Opportiunities

Fund

(continued)

Portfolio

of

Investments

July

31,

2023

(Unaudited)

20

NDMO

Principal

Amount

(000)

Description

(1)

Optional

Call

Provisions

(2)

Ratings

(3)

Value

Wisconsin

(continued)

$

2,000

Public

Finance

Authority

of

Wisconsin,

Revenue

Bonds,

Sky

Harbour

LLC

Obligated

Group

Aviation

Facilities

Project,

Series

2021,

4.000%,

7/01/41,

(AMT)

7/31

at

100.00

N/R  

$

1,513,280

100

Public

Finance

Authority

of

Wisconsin,

Wisconsin

Revenue

Note,

KDC

Agribusiness

LLC

Project,

Series

2022B,

15.000%,

8/31/23

(4),(7)

4/23

at

105.00

N/R  

15,250

2,500

Wisconsin

Health

and

Educational

Facilities

Authority,

Wisconsin,

Revenue

Bonds,

Froedtert

Health,

Inc.

Obligated

Group,

Series

2017A,

4.000%,

4/01/39

4/27

at

100.00

AA  

2,460,825

Total

Wisconsin

25,425,485

Total

Municipal

Bonds

(cost

$923,376,387)

868,758,935

Principal

Amount

(000)

Description

(1)

Coupon

Maturity

Ratings

(3)

Value

X

–

CORPORATE

BONDS

-

1

.3

%

(

1

.0

%

of

Total

Investments)

X

8,578,594

Health

Care

Providers

&

Services

-

1.2%

(0.9%

of

Total

Investments)

$

2,750

Care

New

England

Health

System

5.500%

9/01/26

B+

$

2,491,390

4,363

Toledo

Hospital/The

5.325%

11/15/28

BB-

3,544,938

3,000

Toledo

Hospital/The

6.015%

11/15/48

BB-

2,058,210

Total

Health

Care

Providers

&

Services

8,094,538

Real

Estate

Management

&

Development

-

0.1%

(0.1%

of

Total

Investments)

504

Benloch

Ranch

Improvement

Association

No

1,

144A

(7)

9.750%

12/01/39

N/R

484,056

Total

Real

Estate

Management

&

Development

484,056

Total

Corporate

Bonds

(cost

$8,631,868)

8,578,594

Shares

Description

(1)

Value

X

–

COMMON

STOCKS

-

0

.3

%

(

0

.2

%

of

Total

Investments)

X

1,808,669

Electric

Utilities

-

0.3%

(0.2%

of

Total

Investments)

9,345

Talen

Energy

Corp

(9)

$

486,641

25,387

Talen

Energy

Supply

LLC

(9)

1,322,028

Total

Electric

Utilities

1,808,669

Total

Common

Stocks

(cost

$1,041,333)

1,808,669

Principal

Amount

(000)

Description

(1)

Coupon

(10)

Reference

Rate

(10)

Spread

(10)

Maturity

(11)

Ratings

(3)

Value

–

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

0

.0

%

(

0

.0

%

of

Total

Investments)

(10)

X

200,000

Trading

Companies

&

Distributors

-

0.0%

(0.0%

of

Total

Investments)

$

200

KDC

Agribusiness

Fairless

Hills

LLC

(7),(12)

12.000%

N/A

N/A

9/17/23

N/R

$

200,000

Total

Trading

Companies

&

Distributors

200,000

Total

Variable

Rate

Senior

Loan

Interests

(cost

$200,000)

200,000

Total

Long-Term

Investments

(cost

$933,249,588)

879,346,198

Floating

Rate

Obligations

-

(0.1)%

(

650,000

)

MFP

Shares,

Net

-

(36.9)%(13)

(

239,598,794

)

Other

Assets

&

Liabilities,

Net

-  1.5%

10,012,760

Net

Assets

Applicable

to

Common

Shares

-

100%

$

649,110,164

21

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

(“U.S.

GAAP”)

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund’s

notes

to

financial

statements,

please

refer

to

the

Fund’s

most

recently

filed

annual

or

semi-annual

report.

Fair

Value

Measurements

The

Fund’s

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management’s

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

2

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

3

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management’s

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

Level

1

Level

2

Level

3

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

867,932,810

$

826,125

$

868,758,935

Corporate

Bonds

–

8,094,538

484,056

8,578,594

Common

Stocks

–

1,808,669

–

1,808,669

Variable

Rate

Senior

Loan

Interests

–

–

200,000

200,000

Total

$

–

$

877,836,017

$

1,510,181

$

879,346,198

*

Refer

to

the

Fund's

Portfolio

of

Investments

for

securities

classified

as

Level

3.

(1)

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

(2)

Optional

Call

Provisions:

Dates

(month

and

year)

and

prices

of

the

earliest

optional

call

or

redemption.

There

may

be

other

call

provisions

at

varying

prices

at

later

dates.

Certain

mortgage-backed

securities

may

be

subject

to

periodic

principal

paydowns.

(3)

The

ratings

disclosed

are

the

lowest

of

Standard

&

Poor’s

Group

(“Standard

&

Poor’s”),

Moody’s

Investors

Service,

Inc.

(“Moody’s”)

or

Fitch,

Inc.

(“Fitch”)

rating.

Ratings

below

BBB

by

Standard

&

Poor’s,

Baa

by

Moody’s

or

BBB

by

Fitch

are

considered

to

be

below

investment

grade.

Holdings

designated

N/R

are

not

rated

by

any

of

these

national

rating

agencies.

(4)

Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(5)

Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(6)

Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(7)

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3.

(8)

Principal

Amount

(000)

rounds

to

less

than

$1,000.

(9)

Non-income

producing;

issuer

has

not

declared

an

ex-dividend

date

within

the

past

twelve

months.

(10)

Senior

loans

generally

pay

interest

at

rates

which

are

periodically

adjusted

by

reference

to

a

base

short-term,

floating

lending

rate

(Reference

Rate)

plus

an

assigned

fixed

rate

(Spread).

These

floating

lending

rates

are

generally

(i)

the

lending

rate

referenced

by

the

London

Inter-Bank

Offered

Rate

("LIBOR"),

or

(ii)

the

prime

rate

offered

by

one

or

more

major

United

States

banks.

Senior

loans

may

be

considered

restricted

in

that

the

Fund

ordinarily

is

contractually

obligated

to

receive

approval

from

the

agent

bank

and/or

borrower

prior

to

the

disposition

of

a

senior

loan.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(11)

Senior

loans

generally

are

subject

to

mandatory

and/or

optional

prepayment.

Because

of

these

mandatory

prepayment

conditions

and

because

there

may

be

significant

economic

incentives

for

a

borrower

to

prepay,

prepayments

of

senior

loans

may

occur.

As

a

result,

the

actual

remaining

maturity

of

senior

loans

held

may

be

substantially

less

than

the

stated

maturities

shown.

(12)

Senior

loan

received

as

part

of

the

bondholder

funding

agreement

during

June

2023

for

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

KDC

Agribusiness

Fairless

Hills

LLC

Project,

Series

2021A,

10.000%,

12/01/31.

(13)

MFP

Shares,

Net

as

a

percentage

of

Total

Investments

is

27.2%.

144A

Investment

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

investments

may

only

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

AMT

Alternative

Minimum

Tax

N/A

Not

Applicable.

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

WI/DD

Purchased

on

a

when-issued

or

delayed

delivery

basis.

---