NHA
Nuveen Municipal 2021 Target
Term Fund
Portfolio of Investments August 31, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 78.6% | ||||||
MUNICIPAL BONDS – 76.8% | ||||||
Alaska – 2.8% | ||||||
$1,000 | Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc Project, Refunding Series 2003B, 5.000%, 1/01/21 | No Opt. Call | A- | $1,015,680 | ||
1,325 | Valdez, Alaska, Marine Terminal Revenue Bonds, BP Pipelines Inc Project, Refunding Series 2003C, 5.000%, 1/01/21 | No Opt. Call | A- | 1,345,776 | ||
2,325 | Total Alaska | 2,361,456 | ||||
Arizona – 1.6% | ||||||
325 | Goodyear Community Facilities Utilities District 1, Arizona, General Obligation Bonds, Refunding Series 2016, 4.000%, 7/15/21 | No Opt. Call | A- | 335,462 | ||
625 | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, American Leadership Academy Project, Series 2019, 4.000%, 6/15/21, 144A | No Opt. Call | N/R | 627,087 | ||
355 | Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Arizona Charter Schools Refunding Project, Series 2016R, 2.875%, 7/01/21 | No Opt. Call | B1 | 360,339 | ||
1,305 | Total Arizona | 1,322,888 | ||||
Arkansas – 0.0% | ||||||
15 | Arkansas Development Finance Authority, Hospital Revenue Bonds, Washington Regional Medical Center, Refunding Series 2015B, 5.000%, 2/01/21 | No Opt. Call | Baa1 | 15,257 | ||
California – 5.9% | ||||||
490 | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A, 5.000%, 3/01/21 | No Opt. Call | Ba3 | 499,771 | ||
85 | California Infrastructure and Economic Development Bank, Revenue Bonds, The Walt Disney Family Museum, Refunding Series 2016, 4.000%, 2/01/21 | No Opt. Call | A+ | 86,000 | ||
500 | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016, 5.000%, 8/01/21, 144A | No Opt. Call | BBB | 519,455 | ||
730 | California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Refunding Series 2015, 5.000%, 10/01/20 | No Opt. Call | A- | 732,059 | ||
200 | California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A, 4.000%, 6/01/21, 144A | No Opt. Call | N/R | 200,766 | ||
California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2015-01, Improvement Area No 1, University District, Series 2016A: | ||||||
260 | 2.000%, 9/01/20 | No Opt. Call | N/R | 260,000 | ||
265 | 2.125%, 9/01/21 | No Opt. Call | N/R | 267,555 | ||
235 | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2016A, 3.000%, 9/02/20 | No Opt. Call | N/R | 235,000 | ||
200 | Cucamonga School District, San Bernardino County, California, Special Tax Bonds, Community Facilities District 97-1, Series 2016, 3.000%, 9/01/21 | No Opt. Call | N/R | 203,980 |
1
NHA | Nuveen Municipal 2021 Target Term Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$305 | Fresno, California, Airport Revenue Bonds, Refunding Series 2013B, 5.000%, 7/01/21 – BAM Insured (AMT) | No Opt. Call | AA | $315,736 | ||
50 | Poway Unified School District, San Diego County, California, Special Tax Bonds, Community Facilities District 15 Del Sur East Improvement Area C, Series 2016, 4.000%, 9/01/21 | No Opt. Call | N/R | 51,500 | ||
370 | Roseville, California, Special Tax Bonds, Community Facilities District 1 Hewlett Parkard Campus Oaks, Series 2016, 3.250%, 9/01/21 | No Opt. Call | N/R | 377,348 | ||
995 | Western Hills Water District, Stanislaus County, California, Special Tax Bonds, Diable Grande Community Facilities District 1, Refunding Series 2014, 4.000%, 9/01/21 (4) | No Opt. Call | N/R | 811,000 | ||
420 | Yuba City Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project, Refunding Series 2015, 2.000%, 9/01/21 | No Opt. Call | BBB+ | 425,880 | ||
5,105 | Total California | 4,986,050 | ||||
Colorado – 0.4% | ||||||
230 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21 – NPFG Insured | No Opt. Call | A | 228,903 | ||
116 | Mountain Shadows Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 3.250%, 12/01/20 | No Opt. Call | N/R | 116,202 | ||
346 | Total Colorado | 345,105 | ||||
Connecticut – 0.4% | ||||||
180 | Stafford, Connecticut, General Obligation Bonds, Series 2018, 5.000%, 8/01/21 – BAM Insured | No Opt. Call | A1 | 187,834 | ||
125 | University of Connecticut, General Obligation Bonds, Series 2013A, 5.000%, 8/15/21 | No Opt. Call | A | 130,536 | ||
305 | Total Connecticut | 318,370 | ||||
Florida – 5.5% | ||||||
150 | Bellagio Community Development District, Hialeah, Florida, Special Assessment Bonds, Series 2016, 2.250%, 11/01/20 | No Opt. Call | BBB | 150,368 | ||
135 | Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016A, 3.625%, 11/01/20 | No Opt. Call | N/R | 135,184 | ||
2,000 | Broward County, Florida, Airport Facility Revenue Bonds, Learjet Inc, Series 2000, 7.500%, 11/01/20 (AMT) | 10/20 at 100.00 | Caa3 | 2,008,860 | ||
36 | Champion's Reserve Community Development District, Florida, Special Assessment Revenue Bonds, Series 2016, 3.625%, 11/01/20 | No Opt. Call | N/R | 36,059 | ||
100 | Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-1, 3.700%, 11/01/20 | No Opt. Call | N/R | 100,184 | ||
355 | Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 3.500%, 5/01/21 | No Opt. Call | N/R | 357,315 | ||
335 | Live Oak Community Development District 2, Hillsborough County, Florida, Special Assessment Bonds Refunding Series 2016, 2.000%, 5/01/21 | No Opt. Call | A- | 337,231 | ||
15 | Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/20 (ETM) | No Opt. Call | N/R (5) | 15,179 | ||
70 | Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Lifespace Community Inc, Series 2015C, 5.000%, 5/15/21 | No Opt. Call | BBB | 71,194 |
2
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Florida (continued) | ||||||
$505 | Palm Glades Community Development District, Florida, Special Assessment Bonds, Refunding Series 2016, 2.250%, 5/01/21 | No Opt. Call | A | $510,343 | ||
140 | Palm Glades Community Development District, Florida, Special Assessment Bonds, Refunding Series 2017, 3.500%, 5/01/21 | No Opt. Call | BBB- | 141,079 | ||
105 | Reunion West Community Development District, Florida, Special Assessment Bonds, Area 3 Project, Series 2016, 3.625%, 11/01/20 | No Opt. Call | N/R | 105,196 | ||
70 | Rolling Hills Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2015A-1, 4.600%, 5/01/21 | No Opt. Call | N/R | 70,160 | ||
105 | Six Mile Creek Community Development District, Florida, Capital Improvement Revenue Bonds, Assessment Area 2, Series 2016, 3.750%, 11/01/20 | No Opt. Call | N/R | 105,202 | ||
140 | Tapestry Community Development District, Florida, Special Assessment Revenue Bonds, Series 2016, 3.625%, 5/01/21 | No Opt. Call | N/R | 141,341 | ||
70 | Union Park Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2016A-1, 3.750%, 11/01/20 | No Opt. Call | N/R | 70,127 | ||
170 | Village Community Development District 12, Wildwood, Florida, Special Assessment Revenue Bonds, Series 2016, 2.875%, 5/01/21 | No Opt. Call | N/R | 171,164 | ||
105 | Windsor at Westside Community Development District, Osceola County, Florida, Special Assessment Bonds, Area 2 Project, Series 2016, 3.500%, 11/01/20 | No Opt. Call | N/R | 105,234 | ||
4,606 | Total Florida | 4,631,420 | ||||
Georgia – 0.3% | ||||||
275 | Atlanta, Georgia, Tax Allocation Bonds, Eastside Project, Series 2016, 5.000%, 1/01/21 (ETM) | No Opt. Call | A2 (5) | 279,367 | ||
Guam – 0.8% | ||||||
475 | Guam Education Financing Foundation, Certificates of Participation, Guam Public School Facilities Project, Refunding Series 2016A, 5.000%, 10/01/20 | No Opt. Call | BB | 475,646 | ||
240 | Guam Government Department of Education, Certificates of Participation, John F Kennedy High School Project, Series 2010A, 6.000%, 12/01/20 | No Opt. Call | B+ | 241,711 | ||
715 | Total Guam | 717,357 | ||||
Illinois – 11.0% | ||||||
75 | Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016, 1.900%, 3/01/21 – BAM Insured | No Opt. Call | AA | 75,364 | ||
150 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2010F, 5.000%, 12/01/20 | No Opt. Call | B1 | 151,180 | ||
1,000 | Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 5.250%, 12/01/20 – NPFG Insured | No Opt. Call | BB- | 1,011,380 | ||
800 | Chicago, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 1/01/21 | No Opt. Call | Ba1 | 812,704 | ||
400 | Chicago, Illinois, General Obligation Bonds, Refunding Series 2020A, 5.000%, 1/01/21 | No Opt. Call | BBB- | 403,064 | ||
10 | Chicago, Illinois, Motor Fuel Tax Revenue Bonds, Refunding Series 2014, 5.000%, 1/01/21 | No Opt. Call | BB+ | 10,031 | ||
630 | Cook County School District 87, Berkeley, Illinois, General Obligation Bonds, Refunding School Series 2012A, 3.000%, 12/01/20 | No Opt. Call | A1 | 634,278 | ||
300 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 11/15/20 | No Opt. Call | A2 | 302,613 |
3
NHA | Nuveen Municipal 2021 Target Term Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
$620 | Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C, 5.000%, 2/15/21 | No Opt. Call | Aa2 | $632,344 | ||
1,000 | Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 5.000%, 7/01/21 | No Opt. Call | A- | 1,030,200 | ||
270 | Illinois Finance Authority, Student Housing & Academic Facility Revenue Bonds, CHF-Collegiate Housing Foundation - Chicago LLC University of Illinois at Chicago Project, Series 2017A, 4.000%, 2/15/21 | No Opt. Call | BB | 271,029 | ||
85 | Illinois State, General Obligation Bonds, February Series 2014, 5.000%, 2/01/21 | No Opt. Call | BBB- | 86,225 | ||
635 | Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/21 | No Opt. Call | BBB- | 642,410 | ||
110 | Illinois State, General Obligation Bonds, March Series 2012, 5.000%, 3/01/21 | No Opt. Call | BBB- | 111,889 | ||
2,000 | Illinois State, General Obligation Bonds, May Series 2020, 4.875%, 5/01/21 | No Opt. Call | BBB- | 2,043,580 | ||
105 | Illinois State, General Obligation Bonds, Refunding Series 2006, 5.000%, 1/01/21 | No Opt. Call | BBB- | 106,225 | ||
1,000 | Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013, 0.000%, 2/01/21 | No Opt. Call | A+ | 996,170 | ||
9,190 | Total Illinois | 9,320,686 | ||||
Indiana – 1.5% | ||||||
1,250 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power and Light Company Project, Refunding Series 2011A, 3.875%, 8/01/21 | No Opt. Call | A- | 1,281,675 | ||
Iowa – 0.4% | ||||||
350 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26, 144A | 10/20 at 104.00 | B | 364,326 | ||
Kentucky – 1.4% | ||||||
1,170 | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A, 5.000%, 7/01/21 | No Opt. Call | Baa2 | 1,207,077 | ||
Louisiana – 0.0% | ||||||
15 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015, 5.000%, 5/15/21 | No Opt. Call | A3 | 15,447 | ||
Maine – 0.3% | ||||||
265 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011, 5.250%, 7/01/21 | No Opt. Call | Ba3 | 272,250 | ||
Massachusetts – 0.0% | ||||||
25 | Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial Issue Series 2010G, 5.000%, 7/01/21 | 10/20 at 100.00 | BBB+ | 25,082 | ||
Michigan – 1.6% | ||||||
140 | Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development Area 1 Projects, Series 1996C-1, 0.010%, 7/01/21 | No Opt. Call | BB+ | 134,964 | ||
500 | Detroit Downtown Development Authority, Michigan, Tax Increment Revenue Bonds, Development Area 1 Projects, Series 2018B, 5.000%, 7/01/21 – AGM Insured | No Opt. Call | AA | 518,195 | ||
155 | Detroit Local Development Finance Authority, Michigan, Tax Increment Bonds, Senior Lien Series 1997A, 5.375%, 5/01/21 | 10/20 at 100.00 | B | 155,245 |
4
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Michigan (continued) | ||||||
$500 | Detroit, Michigan, General Obligation Bonds, Series 2018, 5.000%, 4/01/21 | No Opt. Call | BB- | $505,440 | ||
1,295 | Total Michigan | 1,313,844 | ||||
Minnesota – 0.5% | ||||||
105 | Red Wing, Minnesota Senior Housing Revenue Refunding Bonds, Deer Crest Project, Series 2012A, 3.750%, 11/01/20 | No Opt. Call | N/R | 105,047 | ||
70 | Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A, 3.000%, 4/01/21 (4) | No Opt. Call | N/R | 47,600 | ||
250 | Saint Louis Park, Minnesota, Health Care Facilities Revenue Bonds, Mount Olivet Careview Home Project, Series 2016C, 2.250%, 6/01/21 | No Opt. Call | N/R | 247,365 | ||
425 | Total Minnesota | 400,012 | ||||
Mississippi – 0.4% | ||||||
305 | Pearl River County School District, Mississippi, General Obligation Bonds, Series 2018, 4.000%, 8/01/21 – BAM Insured | No Opt. Call | AA | 314,891 | ||
Missouri – 1.4% | ||||||
100 | Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson Shoppes Redevelopment Project, Refunding Series 2017A, 3.000%, 11/01/20 | No Opt. Call | N/R | 100,036 | ||
1,000 | Kansas City Industrial Development Authority, Missouri, Downtown Redevelopment District Revenue Bonds, Series 2011A, 5.000%, 9/01/21 | No Opt. Call | A1 | 1,046,870 | ||
1,100 | Total Missouri | 1,146,906 | ||||
Nevada – 1.1% | ||||||
815 | Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Refunding Series 2016, 4.000%, 6/15/21 | No Opt. Call | BBB+ | 836,630 | ||
125 | North Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 64 Valley Vista, Series 2019, 3.500%, 6/01/21 | No Opt. Call | N/R | 125,555 | ||
940 | Total Nevada | 962,185 | ||||
New Jersey – 10.7% | ||||||
275 | Bordentown , New Jersey, General Obligation Bonds, Series 2018, 3.000%, 8/01/21 | No Opt. Call | AA | 282,205 | ||
100 | Delaware River Port Authority, Pennsylvania and New Jersey, Revenue Refunding Bonds, Port District Project, Series 2012, 5.000%, 1/01/21 | No Opt. Call | Baa1 | 101,302 | ||
New Jersey Building Authority, State Building Revenue Bonds, Refunding Series 2016A: | ||||||
200 | 4.000%, 6/15/21 (ETM) | No Opt. Call | N/R (5) | 205,886 | ||
300 | 4.000%, 6/15/21 | No Opt. Call | BBB+ | 307,170 | ||
1,000 | New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012, 5.000%, 6/15/21 | No Opt. Call | Baa2 | 1,017,500 | ||
425 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.000%, 7/01/21 (AMT) | No Opt. Call | BBB | 438,443 | ||
1,000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX, 5.000%, 6/15/21 | No Opt. Call | BBB+ | 1,031,710 | ||
2,000 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2011GG, 5.000%, 9/01/21 | 3/21 at 100.00 | BBB+ | 2,040,180 | ||
500 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2012II, 5.000%, 3/01/21 (ETM) | No Opt. Call | BBB+ (5) | 512,075 |
5
NHA | Nuveen Municipal 2021 Target Term Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
New Jersey (continued) | ||||||
$525 | New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 5.000%, 7/01/21 | No Opt. Call | BB+ | $538,025 | ||
540 | New Jersey State, General Obligation Bonds, Refunding Series 2009O, 5.250%, 8/01/21 | No Opt. Call | A- | 561,935 | ||
1,000 | New Jersey State, General Obligation Bonds, Refunding Series 2016T, 5.000%, 6/01/21 | No Opt. Call | A- | 1,031,370 | ||
1,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.250%, 12/15/20 | No Opt. Call | BBB+ | 1,012,300 | ||
8,865 | Total New Jersey | 9,080,101 | ||||
New York – 10.4% | ||||||
200 | Franklin County Solid Waste Management Authority, New York, Solid Waste Revenue Bonds, Series 2015A, 5.000%, 6/01/21 (AMT) | No Opt. Call | BBB+ | 206,350 | ||
1,000 | New York City, New York, General Obligation Bonds, Refunding Fiscal 2015 Series A, 5.000%, 8/01/21 | No Opt. Call | AA | 1,043,430 | ||
2,000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc John F Kennedy International Airport Project, Refunding Series 2016, 5.000%, 8/01/21 (AMT) | No Opt. Call | B- | 2,008,060 | ||
2,700 | New York Transportation Development Corporation, New York, Special Facility Revenue Refunding Bonds, Terminal One Group Association, LP Project, Series 2015, 5.000%, 1/01/21 (AMT) | No Opt. Call | Baa3 | 2,727,810 | ||
185 | Niagara Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2014, 5.000%, 5/15/21 | No Opt. Call | N/R | 188,404 | ||
1,500 | Oyster Bay, Nassau County, New York, General Obligation Bonds, Refunding Public Improvement Series 2014B, 5.000%, 8/15/21 – BAM Insured | No Opt. Call | AA | 1,567,470 | ||
1,000 | TSASC Inc, New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B, 5.000%, 6/01/21 | No Opt. Call | BBB+ | 1,022,010 | ||
8,585 | Total New York | 8,763,534 | ||||
North Carolina – 0.3% | ||||||
225 | Goldsboro, North Carolina, General Obligation Bonds, Street Improvement Series 2018, 5.000%, 8/01/21 | No Opt. Call | AA | 235,026 | ||
Ohio – 1.9% | ||||||
1,000 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/21 | No Opt. Call | Ba2 | 1,015,680 | ||
1,000 | Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (4) | No Opt. Call | N/R | 1,250 | ||
1,400 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008C, 3.950%, 11/01/32 (4) | No Opt. Call | N/R | 1,750 | ||
400 | Scioto County, Ohio, Hospital Facilities Revenue Bonds, Southern Ohio Medical Center, Refunding Series 2016, 5.000%, 2/15/21 | No Opt. Call | A3 | 407,504 | ||
205 | Toledo-Lucas County Port Authority, Ohio, Student Housing Revenue Bonds, CHF-Toledo, LLC - The University of Toledo Project, Series 2014A, 5.000%, 7/01/21 | No Opt. Call | BBB- | 208,432 | ||
4,005 | Total Ohio | 1,634,616 | ||||
Pennsylvania – 6.5% | ||||||
800 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2020A, 5.000%, 2/01/21 | No Opt. Call | BBB | 809,360 |
6
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Pennsylvania (continued) | ||||||
$465 | Bucks County Industrial Development Authority, Pennsylvania, Revenue Bonds, School Lane Charter School Project, Series 2016, 3.125%, 3/15/21 | No Opt. Call | BBB- | $469,394 | ||
375 | Northeastern Pennsylvania Hospital and Education Authority, University Revenue Bonds, Wilkes University Project, Refunding Series 2016A, 5.000%, 3/01/21 | No Opt. Call | BBB | 378,323 | ||
1,250 | Pennsylvania State, General Obligation Bonds, First Refunding Series 2011-1, 5.000%, 7/01/21 | No Opt. Call | A+ | 1,299,337 | ||
2,000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016, 5.000%, 6/01/21 | No Opt. Call | A3 | 2,058,760 | ||
500 | Scranton, Lackawanna County, Pennsylvania, General Obligation Bonds, Refunding Series 2017, 5.000%, 9/01/21, 144A | No Opt. Call | BB+ | 515,540 | ||
5,390 | Total Pennsylvania | 5,530,714 | ||||
Rhode Island – 0.5% | ||||||
400 | Providence Redevelopment Agency, Rhode Island, Revenue Bonds, Public Safety and Municipal Building Projects, Refunding Series 2015A, 5.000%, 4/01/21 | No Opt. Call | BBB | 409,352 | ||
South Carolina – 2.5% | ||||||
1,870 | South Carolina Jobs-Economic Development Authority, Health Facilities Revenue Bonds, Lutheran Homes of South Carolina Inc, Series 2013, 5.000%, 5/01/21 | No Opt. Call | N/R | 1,880,678 | ||
230 | South Carolina State, General Obligation State Institution Bonds, University of South Carolina, Refunding Series 2011A, 5.000%, 3/01/21 | No Opt. Call | AA+ | 235,554 | ||
2,100 | Total South Carolina | 2,116,232 | ||||
Tennessee – 2.2% | ||||||
400 | Memphis, Tennessee, General Obligation Bonds, Refunding General Improvement Series 2011, 5.000%, 5/01/21 | No Opt. Call | AA | 412,896 | ||
300 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Lipscomb University, Refunding & Improvement Series 2016A, 5.000%, 10/01/20 | No Opt. Call | BBB | 300,681 | ||
710 | Tennessee Housing Development Agency, Homeownership Program Bonds, Series 2011-1A, 4.125%, 1/01/21 (ETM) (AMT) | No Opt. Call | AA+ (5) | 718,747 | ||
260 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/21 | No Opt. Call | BBB+ | 272,108 | ||
115 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C, 5.000%, 2/01/21 | No Opt. Call | Baa2 | 117,107 | ||
1,785 | Total Tennessee | 1,821,539 | ||||
Texas – 2.8% | ||||||
135 | Brazos County, Texas, General Obligation Bonds, Refunding Limited Tax Series 2017, 5.000%, 9/01/21 | No Opt. Call | AA | 141,466 | ||
65 | Celina, Texas, Special Assessment Revenue Bonds, Glen Crossing Public Improvement District Phase 1 Project, Series 2016, 3.400%, 9/01/20 | No Opt. Call | N/R | 65,000 | ||
Dallas County Schools, Texas, Public Property Finance Contractual Obligations, Series 2014: | ||||||
157 | 4.329%, 6/01/20 (4) | No Opt. Call | B3 | 155,401 | ||
116 | 5.400%, 6/01/21 (4) | No Opt. Call | B3 | 115,014 |
7
NHA | Nuveen Municipal 2021 Target Term Fund (continued) |
Portfolio of Investments August 31, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
$110 | La Marque, Galveston County, Texas, Tax and Revenue Certificates of Obligation, Series 2018, 5.000%, 9/01/21 | No Opt. Call | AA- | $115,235 | ||
500 | Mesquite Health Facilities Development Corporation, Texas, Retirement Facility Revenue Bonds, Christian Care Centers Inc, Refunding Series 2016, 5.000%, 2/15/21 | No Opt. Call | BB- | 498,560 | ||
75 | New Hope Cultural Education Facilities Finance Corporation, Education Revenue Bonds, Jubilee Academic Center, Series 2016A, 3.375%, 8/15/21, 144A | No Opt. Call | BB | 75,059 | ||
175 | Polk County, Texas, General Obligation Bonds, Series 2017, 4.000%, 8/15/21 | No Opt. Call | A+ | 181,172 | ||
1,000 | Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, Refunding Series 2013, 5.000%, 11/01/20 – BAM Insured | No Opt. Call | Baa3 | 1,005,970 | ||
2,333 | Total Texas | 2,352,877 | ||||
Virgin Islands – 0.2% | ||||||
145 | Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 2012A, 4.000%, 7/01/21 | No Opt. Call | Caa2 | 141,308 | ||
Washington – 0.3% | ||||||
245 | Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016, 3.200%, 7/01/21, 144A | No Opt. Call | N/R | 244,437 | ||
Wisconsin – 1.2% | ||||||
1,000 | Superior, Wisconsin, Limited Obligation Revenue Refunding Bonds, Midwest Energy Resources Company, Series 1991E, 6.900%, 8/01/21 – FGIC Insured | No Opt. Call | A | 1,058,560 | ||
$66,405 | Total Municipal Bonds (cost $64,792,806) | 64,989,947 |
Shares | Description (1) | Value | ||||
COMMON STOCKS – 1.8% | ||||||
Electric Utilities – 1.8% | ||||||
77,692 | Energy Harbor Corp (6), (7), (8) | $1,495,571 | ||||
Total Common Stocks (cost $2,571,420) | 1,495,571 | |||||
Total Long-Term Investments (cost $67,364,226) | 66,485,518 | |||||
Other Assets Less Liabilities – 21.4% | 18,137,255 | |||||
Net Assets Applicable to Common Shares – 100% | $84,622,773 |
8
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. 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. 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, credit spreads, 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 | $ — | $64,989,947 | $ — | $64,989,947 |
Common Stocks | — | 1,495,571 | — | 1,495,571 |
Total | $ — | $66,485,518 | $ — | $66,485,518 |
(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) | Common Stock received as part of the bankruptcy settlements for Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 and Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2008C, 3.950%, 11/01/32. Subsequent to the end of the reporting period, the value of this common stock has been adversely impacted as compared to the value reported as of May 31, 2020. | |
(7) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(8) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
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 | |
ETM | Escrowed to maturity |
9