NXQ
Nuveen Select Tax-Free Income
Portfolio 2
Portfolio of Investments June 30, 2020
(Unaudited)
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 97.8% | ||||||
MUNICIPAL BONDS – 97.3% | ||||||
Alaska – 0.4% | ||||||
$1,000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32 | 7/20 at 100.00 | B3 | $1,000,200 | ||
Arizona – 5.1% | ||||||
1,015 | Arizona Board of Regents, Arizona State University System Revenue Bonds, Series 2020B, 4.000%, 7/01/47 | 7/30 at 100.00 | AA | 1,192,087 | ||
2,500 | Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series 2011B-1&2, 5.250%, 3/01/39 | 3/21 at 100.00 | BBB+ | 2,544,625 | ||
95 | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Schools Projects, Series 2016, 2.875%, 7/01/21, 144A | No Opt. Call | BB+ | 94,875 | ||
1,000 | Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A, 5.000%, 1/01/38 | 1/27 at 100.00 | AA- | 1,173,160 | ||
1,950 | McAllister Academic Village LLC, Arizona, Revenue Bonds, Arizona State University Hassayampa Academic Village Project, Refunding Series 2016, 5.000%, 7/01/37 | 7/26 at 100.00 | AA- | 2,322,528 | ||
1,250 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2015A, 5.000%, 7/01/34 | 7/25 at 100.00 | A+ | 1,442,088 | ||
1,160 | Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Rowan University Project, Series 2012, 5.000%, 6/01/42 | 6/22 at 100.00 | A | 1,205,913 | ||
600 | Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40 | 10/20 at 100.00 | A- | 604,770 | ||
2,250 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37 | No Opt. Call | A3 | 2,987,662 | ||
215 | Sedona Wastewater Municipal Property Corporation (Arizona), Excise Tax Revenue Bonds, Series 1998, 0.000%, 7/01/20 – NPFG Insured | No Opt. Call | Baa2 | 215,000 | ||
12,035 | Total Arizona | 13,782,708 | ||||
California – 15.3% | ||||||
11,000 | Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/41 – AGC Insured | No Opt. Call | AA | 6,401,120 | ||
45 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49 | 6/30 at 100.00 | BBB+ | 49,278 | ||
2,440 | Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series 2002, 0.000%, 8/01/27 – AGM Insured | No Opt. Call | AA | 2,212,982 | ||
3,290 | Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/24 – NPFG Insured | No Opt. Call | AA- | 3,190,938 | ||
3,030 | Grossmont Union High School District, San Diego County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/25 – NPFG Insured | No Opt. Call | Aa2 | 2,889,953 |
1
NXQ | Nuveen Select Tax-Free Income Portfolio 2 (continued) |
Portfolio of Investments June 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$1,495 | Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/33 – FGIC Insured | No Opt. Call | Aa2 | $1,131,715 | ||
1,160 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (4) | 8/35 at 100.00 | Aa1 | 1,234,391 | ||
450 | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.500%, 11/01/39 | No Opt. Call | A | 707,162 | ||
1,195 | Palmdale School District, Los Angeles County, California, General Obligation Bonds, Series 2003, 0.000%, 8/01/28 – AGM Insured | No Opt. Call | AA | 1,078,523 | ||
4,620 | Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/24 – NPFG Insured | No Opt. Call | A2 | 4,420,416 | ||
4,400 | Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured | No Opt. Call | AA- | 3,779,776 | ||
2,500 | Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – FGIC Insured (ETM) | No Opt. Call | A+ (5) | 1,969,800 | ||
2,755 | Sacramento City Unified School District, Sacramento County, California, General Obligation Bonds, Series 2007, 0.000%, 7/01/25 – AGM Insured | No Opt. Call | A2 | 2,592,152 | ||
1,395 | San Diego Association of Governments, California, South Bay Expressway Toll Revenue Bonds, First Senior Lien Series 2017A, 5.000%, 7/01/42 | 7/27 at 100.00 | A | 1,610,695 | ||
935 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2019B, 5.000%, 7/01/39 (AMT) | 7/29 at 100.00 | A+ | 1,140,981 | ||
6,025 | Simi Valley Unified School District, Ventura County, California, General Obligation Bonds, Series 2007C, 0.000%, 8/01/30 | No Opt. Call | AA | 5,150,712 | ||
2,080 | Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1, 5.500%, 6/01/45 | 7/20 at 100.00 | B- | 2,080,458 | ||
48,815 | Total California | 41,641,052 | ||||
Colorado – 7.9% | ||||||
540 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2, 4.000%, 8/01/49 | 8/29 at 100.00 | BBB+ | 579,668 | ||
1,580 | Colorado School of Mines Board of Trustees, Golden, Colorado, Institutional Enterprise Revenue Bonds, Series 2017B, 5.000%, 12/01/47 | 12/27 at 100.00 | A+ | 1,835,644 | ||
445 | Colorado State, Certificates of Participation, Rural Series 2020A, 4.000%, 12/15/38 | 12/30 at 100.00 | Aa2 | 537,035 | ||
1,935 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43 | 11/23 at 100.00 | A+ | 2,121,534 | ||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: | ||||||
5,140 | 0.000%, 9/01/24 – NPFG Insured | No Opt. Call | A | 4,946,582 | ||
8,100 | 0.000%, 9/01/29 – NPFG Insured | No Opt. Call | A | 7,014,114 | ||
4,475 | 0.000%, 9/01/33 – NPFG Insured | No Opt. Call | A | 3,406,728 | ||
715 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2020A, 5.000%, 9/01/36 | 9/30 at 100.00 | A | 932,353 | ||
22,930 | Total Colorado | 21,373,658 | ||||
Connecticut – 3.2% | ||||||
705 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2014D, 1.800%, 7/01/49 (Mandatory Put 7/01/24) | 1/24 at 100.00 | AA- | 731,607 |
2
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Connecticut (continued) | ||||||
$2,600 | Connecticut State, General Obligation Bonds, Green Series 2014G, 5.000%, 11/15/31 | 11/24 at 100.00 | A1 | $2,998,554 | ||
1,000 | Connecticut State, General Obligation Bonds, Refunding Series 2012E, 5.000%, 9/15/32 | 9/22 at 100.00 | A1 | 1,076,630 | ||
1,000 | Connecticut State, General Obligation Bonds, Refunding Series 2018C, 5.000%, 6/15/26 | No Opt. Call | A1 | 1,225,820 | ||
2,490 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2013A, 5.000%, 10/01/33 | 10/23 at 100.00 | A+ | 2,791,713 | ||
7,795 | Total Connecticut | 8,824,324 | ||||
District of Columbia – 0.3% | ||||||
600 | Washington Metropolitan Area Transit Authority, District of Columbia, Dedicated Revenue Bonds, Series 2020A, 4.000%, 7/15/45 | 7/30 at 100.00 | AA | 702,714 | ||
Florida – 3.4% | ||||||
1,040 | Broward County, Florida, Airport System Revenue Bonds, Series 2017, 5.000%, 10/01/47 (AMT) | 10/27 at 100.00 | A+ | 1,203,540 | ||
1,155 | Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017, 5.000%, 10/01/47 (AMT) | 10/27 at 100.00 | A+ | 1,343,253 | ||
1,500 | Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Series 2015, 5.000%, 11/15/45 | 11/24 at 100.00 | A2 | 1,668,465 | ||
2,000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2019A, 5.000%, 10/01/49 (AMT) | 10/29 at 100.00 | A | 2,376,020 | ||
2,000 | Miami-Dade County, Florida, General Obligation Bonds, Build Better Communities Program, Series 2013A, 5.000%, 7/01/30 | 7/25 at 100.00 | AA | 2,430,060 | ||
205 | Tampa, Florida, Revenue Bonds, H Lee Moffitt Cancer Center and Research Institute, Series 2020B, 4.000%, 7/01/45 | 7/30 at 100.00 | A2 | 226,722 | ||
7,900 | Total Florida | 9,248,060 | ||||
Georgia – 0.5% | ||||||
1,330 | Brookhaven Development Authority, Georgia, Revenue Bonds, Children's Healthcare of Atlanta, Inc Project, Series 2019A, 4.000%, 7/01/44 | 7/29 at 100.00 | AA+ | 1,503,086 | ||
Guam – 2.4% | ||||||
3,000 | Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/39 | 11/25 at 100.00 | BB | 3,230,490 | ||
1,675 | Government of Guam, Hotel Occupancy Tax Revenue Bonds, Series 2011A, 6.000%, 11/01/26 | 5/21 at 100.00 | BB | 1,693,006 | ||
1,460 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2016, 5.000%, 1/01/46 | 7/26 at 100.00 | A- | 1,638,295 | ||
6,135 | Total Guam | 6,561,791 | ||||
Idaho – 1.6% | ||||||
4,000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2014A, 5.000%, 3/01/44 | 3/24 at 100.00 | A- | 4,363,680 | ||
Illinois – 9.5% | ||||||
1,615 | Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 1999A, 0.000%, 4/01/23 – NPFG Insured | No Opt. Call | Baa2 | 1,505,858 |
3
NXQ | Nuveen Select Tax-Free Income Portfolio 2 (continued) |
Portfolio of Investments June 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois (continued) | ||||||
$750 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46 | 4/27 at 100.00 | A | $846,390 | ||
735 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.000%, 12/01/41 | 12/21 at 100.00 | BB | 741,446 | ||
760 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C, 5.000%, 12/01/30 | 12/27 at 100.00 | BB | 825,489 | ||
365 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46 | 12/26 at 100.00 | BB | 418,038 | ||
2,245 | Illinois Finance Authority, Revenue Bonds, Northwestern Memorial HealthCare, Series 2013, 5.000%, 8/15/43 | 8/22 at 100.00 | AA+ | 2,383,898 | ||
2,070 | Illinois State, General Obligation Bonds, Refunding September Series 2018B, 5.000%, 10/01/23 | No Opt. Call | BBB- | 2,194,138 | ||
2,500 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2019A, 4.000%, 1/01/39 | 7/29 at 100.00 | AA- | 2,826,300 | ||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A: | ||||||
6,350 | 0.000%, 12/15/31 – NPFG Insured | No Opt. Call | BBB | 4,191,000 | ||
1,350 | 0.000%, 6/15/35 – NPFG Insured | No Opt. Call | BBB | 748,899 | ||
5,000 | 0.000%, 12/15/36 – NPFG Insured | No Opt. Call | BBB | 2,581,500 | ||
9,370 | 0.000%, 6/15/39 – NPFG Insured | No Opt. Call | BBB | 4,264,662 | ||
1,825 | Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/28 | 3/25 at 100.00 | A | 2,157,625 | ||
34,935 | Total Illinois | 25,685,243 | ||||
Indiana – 2.4% | ||||||
1,600 | Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B, 0.000%, 6/01/30 – AGM Insured | No Opt. Call | AA | 1,321,568 | ||
2,040 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Refunding 2015A, 5.000%, 12/01/40 | 6/25 at 100.00 | AA | 2,281,556 | ||
2,500 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2015A, 5.000%, 10/01/45 | 10/24 at 100.00 | AA | 2,859,550 | ||
6,140 | Total Indiana | 6,462,674 | ||||
Iowa – 1.6% | ||||||
710 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26, 144A | 7/20 at 104.00 | BB- | 738,996 | ||
830 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018B, 5.250%, 12/01/50 (Mandatory Put 12/01/37) | 12/22 at 105.00 | BB- | 866,180 | ||
1,645 | Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.375%, 6/01/38 | 7/20 at 100.00 | B- | 1,668,918 | ||
1,000 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 7/20 at 100.00 | B- | 1,014,540 | ||
4,185 | Total Iowa | 4,288,634 | ||||
Kentucky – 1.2% | ||||||
2,500 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2011, 5.250%, 8/15/46 | 8/21 at 100.00 | A | 2,556,275 |
4
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Kentucky (continued) | ||||||
$805 | Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C, 0.000%, 7/01/43 (4) | 7/31 at 100.00 | Baa3 | $798,713 | ||
3,305 | Total Kentucky | 3,354,988 | ||||
Louisiana – 0.8% | ||||||
1,870 | Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2017B, 5.000%, 12/01/42 – AGM Insured | 12/27 at 100.00 | AA | 2,223,150 | ||
Maryland – 0.4% | ||||||
1,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins Health System Obligated Group Issue, Series 2012B, 5.000%, 7/01/27 (Pre-refunded 7/01/22) | 7/22 at 100.00 | Aa2 (5) | 1,089,950 | ||
Massachusetts – 5.7% | ||||||
2,200 | Massachusetts Bay Transportation Authority, Assessment Bonds, Series 2012A, 5.000%, 7/01/41 | 7/22 at 100.00 | AAA | 2,380,752 | ||
2,000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2, 5.000%, 7/01/43 | 7/28 at 100.00 | A | 2,352,700 | ||
1,675 | Massachusetts Development Finance Agency, Revenue Bonds, Olin College, Series 2013E, 5.000%, 11/01/43 | 11/23 at 100.00 | A+ | 1,836,051 | ||
2,250 | Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2014M-4, 5.000%, 7/01/44 (Pre-refunded 7/01/23) | 7/23 at 100.00 | AA- (5) | 2,561,670 | ||
400 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L, 3.625%, 7/01/37 | 7/27 at 100.00 | A- | 409,772 | ||
2,100 | Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Subordinated Series 2019A, 5.000%, 2/15/49 | 2/26 at 100.00 | AA+ | 2,472,498 | ||
2,115 | Massachusetts State, Federal Highway Grant Anticipation Notes, Accelerated Bridge Program, Series 2017A, 5.000%, 6/01/42 | 6/27 at 100.00 | AA+ | 2,576,282 | ||
730 | Massachusetts Water Resources Authority, General Revenue Bonds, Refunding Series 2011C, 5.250%, 8/01/42 (Pre-refunded 8/01/21) | 8/21 at 100.00 | AA+ (5) | 769,442 | ||
13,470 | Total Massachusetts | 15,359,167 | ||||
Michigan – 1.2% | ||||||
355 | Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39 (Pre-refunded 7/01/22) | 7/22 at 100.00 | AA- (5) | 389,815 | ||
385 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I, 5.000%, 4/15/38 | 10/25 at 100.00 | Aa2 | 457,977 | ||
2,000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2016-I, 5.000%, 4/15/35 | 10/26 at 100.00 | Aa2 | 2,427,420 | ||
2,740 | Total Michigan | 3,275,212 | ||||
Nebraska – 0.7% | ||||||
545 | Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 4.125%, 11/01/36 | 11/25 at 100.00 | A | 589,401 | ||
305 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018, 5.000%, 7/01/27 | 7/25 at 100.00 | BBB | 351,131 |
5
NXQ | Nuveen Select Tax-Free Income Portfolio 2 (continued) |
Portfolio of Investments June 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Nebraska (continued) | ||||||
$1,000 | Nebraska Public Power District, General Revenue Bonds, Series 2015A-2, 5.000%, 1/01/40 | 1/22 at 100.00 | A+ | $1,055,680 | ||
1,850 | Total Nebraska | 1,996,212 | ||||
Nevada – 1.7% | ||||||
990 | Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A, 5.000%, 9/01/37 | 9/27 at 100.00 | A- | 1,129,164 | ||
3,000 | Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015, 5.000%, 6/01/34 | 12/24 at 100.00 | AA+ | 3,496,050 | ||
3,990 | Total Nevada | 4,625,214 | ||||
New Jersey – 2.5% | ||||||
2,000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB, 5.500%, 6/15/31 | 12/26 at 100.00 | BBB+ | 2,289,780 | ||
2,165 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Refunding Series 2011GG, 5.000%, 9/01/22 | 3/21 at 100.00 | BBB+ | 2,210,465 | ||
2,000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA, 5.250%, 6/15/29 | 6/25 at 100.00 | BBB+ | 2,222,380 | ||
6,165 | Total New Jersey | 6,722,625 | ||||
New Mexico – 1.1% | ||||||
1,000 | Albuquerque, New Mexico, Refuse Removal and Disposal Revenue Bonds, Series 2020, 4.000%, 7/01/43 | 7/30 at 100.00 | AA | 1,173,620 | ||
800 | New Mexico Hospital Equipment Loan Council, First Mortgage Revenue Bonds, Haverland Carter Lifestyle Group, Series 2013, 5.000%, 7/01/42 | 7/22 at 100.00 | BBB- | 801,200 | ||
1,000 | New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42 (AMT) | 7/20 at 100.00 | N/R | 1,001,880 | ||
2,800 | Total New Mexico | 2,976,700 | ||||
New York – 1.7% | ||||||
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A: | ||||||
25 | 5.250%, 2/15/47 (Pre-refunded 2/15/21) | 2/21 at 100.00 | Aa2 (5) | 25,778 | ||
475 | 5.250%, 2/15/47 | 2/21 at 100.00 | Aa2 | 487,820 | ||
1,000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2019A-1, 5.000%, 11/15/48 (Mandatory Put 11/15/24) | No Opt. Call | A+ | 1,098,490 | ||
1,250 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/26 | 11/22 at 100.00 | A+ | 1,312,863 | ||
1,135 | Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010, 6.000%, 12/01/42 | 12/20 at 100.00 | Baa1 | 1,144,091 | ||
500 | TSASC Inc, New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B, 5.000%, 6/01/24 | No Opt. Call | B- | 508,985 | ||
4,385 | Total New York | 4,578,027 | ||||
Ohio – 0.7% | ||||||
330 | 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+ | 357,228 |
6
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Ohio (continued) | ||||||
$315 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020B-2 Class 2, 5.000%, 6/01/55 | 6/30 at 100.00 | N/R | $332,212 | ||
1,105 | Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48 (Pre-refunded 2/15/23) | 2/23 at 100.00 | Aa3 (5) | 1,239,169 | ||
1,000 | Ohio Water Development Authority, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generating Corporation Project, Refunding Series 2005B, 4.000%, 1/01/34 (6) | No Opt. Call | N/R | 5,000 | ||
2,750 | Total Ohio | 1,933,609 | ||||
Oklahoma – 0.2% | ||||||
450 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B, 5.000%, 8/15/38 | 8/28 at 100.00 | Baa3 | 515,592 | ||
Oregon – 1.4% | ||||||
915 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Convertible Deferred Interest Series 2017D, 5.000%, 6/15/36 | 6/27 at 100.00 | AA+ | 1,138,223 | ||
605 | Beaverton, Oregon, Special Revenue Bonds, Series 2020A, 4.000%, 6/01/37 | 6/30 at 100.00 | Aa3 | 718,795 | ||
60 | Clackamas Community College District, Oregon, General Obligation Bonds, Deferred Interest Series 2017A, 5.000%, 6/15/40 (4) | 6/27 at 100.00 | Aa1 | 72,843 | ||
500 | Lake Oswego, Oregon, General Obligation Bonds, Series 2013, 5.000%, 6/01/26 | 6/23 at 100.00 | AAA | 566,560 | ||
1,090 | Oregon Facilities Authority, Revenue Bonds, Reed College, Series 2017A, 4.000%, 7/01/41 | 7/27 at 100.00 | Aa2 | 1,244,486 | ||
3,170 | Total Oregon | 3,740,907 | ||||
Pennsylvania – 3.0% | ||||||
1,255 | Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013, 5.000%, 1/01/37 | 1/24 at 100.00 | A+ | 1,389,837 | ||
1,500 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, State System of Higher Education, Refunding Series 2016AT-1, 5.000%, 6/15/31 | 6/26 at 100.00 | Aa3 | 1,786,320 | ||
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010B-2: | ||||||
555 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | N/R (5) | 565,945 | ||
300 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | N/R (5) | 305,916 | ||
645 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | A2 (5) | 657,719 | ||
2,970 | Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2015A, 5.000%, 7/01/40 | 7/24 at 100.00 | A+ | 3,377,128 | ||
7,225 | Total Pennsylvania | 8,082,865 | ||||
Puerto Rico – 1.2% | ||||||
1,035 | Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 5.000%, 12/01/20 | 7/20 at 100.00 | AA- | 1,042,628 | ||
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1: | ||||||
1,000 | 4.750%, 7/01/53 | 7/28 at 100.00 | N/R | 1,030,160 | ||
1,080 | 5.000%, 7/01/58 | 7/28 at 100.00 | N/R | 1,131,894 | ||
3,115 | Total Puerto Rico | 3,204,682 |
7
NXQ | Nuveen Select Tax-Free Income Portfolio 2 (continued) |
Portfolio of Investments June 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
South Carolina – 0.6% | ||||||
$1,500 | Richland County School District 2, South Carolina, General Obligation Bonds, Refunding Series 2012B, 3.050%, 5/01/27 | 5/23 at 100.00 | Aa1 | $1,585,740 | ||
South Dakota – 0.2% | ||||||
600 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/35 | 11/25 at 100.00 | A+ | 687,912 | ||
Texas – 10.2% | ||||||
1,880 | Alamo Regional Mobility Authority, Texas, Vehicle Registration Fee Revenue Bonds, Senior Lien Series 2016, 5.000%, 6/15/46 | 6/25 at 100.00 | AA+ | 2,185,218 | ||
250 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41 (Pre-refunded 1/01/21) | 1/21 at 100.00 | A- (5) | 257,202 | ||
240 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/35 | 7/25 at 100.00 | A- | 264,310 | ||
5,560 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Frst Tier Series 2013A, 5.500%, 4/01/53 (Pre-refunded 10/01/23) | 10/23 at 100.00 | A+ (5) | 6,483,683 | ||
1,160 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45 | 6/25 at 100.00 | AA | 1,338,269 | ||
1,250 | Harris County Flood Control District, Texas, Contract Tax Bonds, Refunding Series 2017A, 4.000%, 10/01/35 | 10/27 at 100.00 | AAA | 1,467,900 | ||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H: | ||||||
110 | 0.000%, 11/15/24 – NPFG Insured (ETM) | No Opt. Call | Baa2 (5) | 106,506 | ||
520 | 0.000%, 11/15/24 – NPFG Insured | No Opt. Call | Baa2 | 470,080 | ||
12,480 | 0.000%, 11/15/41 – NPFG Insured | 11/31 at 53.78 | Baa2 | 4,446,998 | ||
575 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B, 0.000%, 9/01/24 – AMBAC Insured | No Opt. Call | A | 542,926 | ||
2,255 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40 | 11/20 at 100.00 | Baa1 | 2,267,899 | ||
155 | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31, 144A (AMT) | 10/21 at 105.00 | BB- | 162,834 | ||
1,025 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40 | 1/23 at 100.00 | A+ | 1,100,235 | ||
200 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2016A, 4.000%, 11/15/42 | 5/26 at 100.00 | AA- | 217,056 | ||
5,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/26 | 12/22 at 100.00 | A3 | 5,371,450 | ||
2,000 | Wylie Independent School District, Collin County, Texas, General Obligation Bonds, School Building Series 2010, 0.000%, 8/15/31 | 8/20 at 56.85 | AAA | 1,136,620 | ||
34,660 | Total Texas | 27,819,186 | ||||
Virginia – 2.0% | ||||||
985 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Refunding & Subordinate Lien Series 2019B, 4.000%, 10/01/44 | 10/29 at 100.00 | A- | 1,069,769 |
8
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Virginia (continued) | ||||||
$1,500 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009C, 6.500%, 10/01/41 – AGC Insured | 10/26 at 100.00 | AA | $1,852,875 | ||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012: | ||||||
1,000 | 5.250%, 1/01/32 (AMT) | 7/22 at 100.00 | BBB | 1,053,030 | ||
410 | 6.000%, 1/01/37 (AMT) | 7/22 at 100.00 | BBB | 435,420 | ||
1,010 | 5.500%, 1/01/42 (AMT) | 7/22 at 100.00 | BBB | 1,058,147 | ||
4,905 | Total Virginia | 5,469,241 | ||||
Washington – 4.8% | ||||||
395 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2019, 5.000%, 4/01/44 (AMT) | 4/29 at 100.00 | AA- | 467,190 | ||
860 | Snohomish County School District 306 Lakewood, Washington, General Obligation Bonds, Series 2014, 5.000%, 12/01/28 | 6/24 at 100.00 | Aaa | 1,011,257 | ||
4,000 | Washington Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative, Series 2013A, 5.750%, 1/01/45 | 1/23 at 100.00 | BBB+ | 4,414,480 | ||
990 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35 (Pre-refunded 1/01/21) | 1/21 at 100.00 | A+ (5) | 1,016,275 | ||
1,500 | Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds, Series 2018, 5.000%, 7/01/58 | 7/28 at 100.00 | A1 | 1,644,570 | ||
1,130 | Washington State, General Obligation Bonds, Various Purpose Series 2015B, 5.000%, 2/01/37 | 2/25 at 100.00 | Aaa | 1,317,343 | ||
2,535 | Washington State, General Obligation Bonds, Various Purpose Series 2017A, 5.000%, 8/01/38 | 8/26 at 100.00 | Aaa | 3,060,936 | ||
11,410 | Total Washington | 12,932,051 | ||||
Wisconsin – 2.4% | ||||||
1,645 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc, Series 2012, 5.000%, 6/01/39 | 6/22 at 100.00 | A3 | 1,723,401 | ||
2,000 | Wisconsin Health and Educational Facilities Authority, Revenus Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39 | 10/21 at 100.00 | AA- | 2,080,820 | ||
2,355 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc, Series 2016, 5.000%, 12/01/41 | 11/26 at 100.00 | AA- | 2,786,200 | ||
6,000 | Total Wisconsin | 6,590,421 | ||||
$275,160 | Total Municipal Bonds (cost $232,055,099) | 264,201,275 |
Shares | Description (1) | Value | ||||
COMMON STOCKS – 0.5% | ||||||
Electric Utilities – 0.5% | ||||||
32,091 | Energy Harbor Corp (7), (8), (9) | $1,235,503 | ||||
Total Common Stocks (cost $851,221) | 1,235,503 | |||||
Total Long-Term Investments (cost $232,906,320) | 265,436,778 |
9
NXQ | Nuveen Select Tax-Free Income Portfolio 2 (continued) |
Portfolio of Investments June 30, 2020 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
SHORT-TERM INVESTMENTS – 0.4% | ||||||
MUNICIPAL BONDS – 0.4% | ||||||
Florida – 0.4% | ||||||
$1,345 | Florida Development Finance Corporation, Florida, Surface Transportation Facility Revenue Bonds, Virgin Trains USA Passenger Rail Project, Variable Rate Demand Obligations, Series 2019A, 6.250%, 1/01/49 (AMT) (Mandatory Put 1/01/24), 144A (10) | 9/20 at 104.00 | N/R | $1,198,718 | ||
$1,345 | Total Short-Term Investments (cost $1,345,000) | 1,198,718 | ||||
Total Investments (cost $234,251,320) – 98.2% | 266,635,496 | |||||
Other Assets Less Liabilities – 1.8% | 4,926,793 | |||||
Net Assets Applicable to Common Shares – 100% | $271,562,289 |
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 | $ — | $264,201,275 | $ — | $264,201,275 |
Common Stocks | — | 1,235,503 | — | 1,235,503 |
Short-Term Investments: | ||||
Municipal Bonds | — | 1,198,718 | — | 1,198,718 |
Total | $ — | $266,635,496 | $ — | $266,635,496 |
10
(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) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. 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) | Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period. | |
(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) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy. | |
(7) | Common Stock received as part of the bankruptcy settlement for Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 0.000%, 1/01/34. | |
(8) | For fair value measurement disclosure purposes, investment classified as Level 2. | |
(9) | Non-income producing; issuer has not declared a dividend within the past twelve months. | |
(10) | Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. | |
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 |
11