UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-07056

Nuveen Select Maturities Municipal Fund
(Exact name of registrant as specified in charter)

Nuveen Investments
333 West Wacker Drive
Chicago, IL 60606
(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman
Nuveen Investments
333 West Wacker Drive
Chicago, IL 60606
(Name and address of agent for service)

Registrant's telephone number, including area code: (312) 917-7700

Date of fiscal year end: March 31

Date of reporting period: September 30, 2017

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

 


ITEM 1. REPORTS TO STOCKHOLDERS.
 

 


 

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Table of Contents 
 
 
Chairman's Letter to Shareholders 
4 
Portfolio Manager's Comments 
5 
Share Information 
7 
Risk Considerations 
9 
Performance Overview and Holding Summaries 
10 
Shareholder Meeting Report 
12 
Portfolio of Investments 
13 
Statement of Assets and Liabilities 
28 
Statement of Operations 
29 
Statement of Changes in Net Assets 
30 
Financial Highlights 
32 
Notes to Financial Statements 
34 
Additional Fund Information 
42 
Glossary of Terms Used in this Report 
43 
Reinvest Automatically, Easily and Conveniently 
44 
Annual Investment Management Agreement Approval Process 
45 
 
NUVEEN 3

 

Chairman's Letter to Shareholders
Dear Shareholders,
Asset prices have steadily climbed this year, propelled by a "Goldilocks" economic scenario that enabled markets to sidestep geopolitical tensions, natural disasters, terrorism events and political noise. The U.S. economy continued to run not too hot, not too cold, with steady growth and low levels of unemployment, inflation and interest rates. Corporate earnings have been healthy and recession risk appeared low. At the same time, growth across the rest of the world has improved as well, leading to upward revisions in global growth projections.
Yet, a global synchronized recovery also brings the prospect of higher inflation. Central banks have to manage the delicate balance between too-loose financial conditions, which risks economies overheating, and too-tight conditions, which could trigger recession. The nominee for Chairman of the U.S. Federal Reserve (Fed), Jerome Powell, is largely expected to maintain the course set by Chair Janet Yellen after her term expires in February 2018. However, uncertainties about fiscal policy remain, particularly as Congress is currently working on a tax overhaul plan. Depending on the details of a tax bill and whether it passes, the Fed's job of managing interest rates could become more complicated in the years ahead.
Meanwhile, politics will remain in the forefront. The U.S. debt ceiling debate resumes in December 2017 when the current extension of the debt limit expires, and rebuilding continues in the wake of Hurricanes Harvey, Irma and Maria. The ongoing "Brexit" negotiations and the North American Free Trade Agreement (NAFTA) talks may impact key trade and political partnerships. Tensions with North Korea may continue to flare.
The magnitude of the market's bullishness this year has been somewhat surprising. But gains may not be so easy in the coming years. Nobody can predict market shifts, which is why Nuveen encourages you to talk to your financial advisor to ensure your investment portfolio is appropriately diversified for your objectives, time horizon and risk tolerance. On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.
Sincerely,
William J. Schneider
Chairman of the Board
November 22, 2017
 
4 NUVEEN

 

Portfolio Manager's Comments
Nuveen Select Maturities Municipal Fund (NIM)
This Fund features portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen, LLC. Portfolio manager Paul L. Brennan, CFA, reviews key investment strategies and the six-month performance of the Nuveen Select Maturities Municipal Fund (NIM). Paul has managed NIM since 2006.
What key strategies were used to manage NIM during the six-month reporting period ended September 30, 2017?
During the six-month reporting period, moderate economic growth, well-signaled policy actions from the Federal Reserve (Fed), a reassessment of political risk and stable municipal credit fundamentals continued to drive demand for municipal bonds, while supply remained relatively tight. Against this backdrop, yields fell (except at the very short end of the yield curve, which rose in concert with the Fed's rate hikes) and credit spreads narrowed, helping the broad municipal market to post a gain for the reporting period. During this time, we continued to take a bottom-up approach to discovering sectors that appeared undervalued as well as individual credits that we believed had the potential to perform well over the long term.
The Fund's overall positioning remained relatively unchanged during the reporting period, although we marginally increased exposure to lower quality bonds by the end of the reporting period. Our emphasis remained on intermediate and longer maturities, lower rated credits and sectors offering higher yields.
Cash for new purchases was generated primarily by proceeds from called and matured bonds, which we worked to redeploy to keep NIM fully invested and support the Fund's income stream. Because NIM is an intermediate maturity Fund, it typically has a greater number of bonds maturing or being called than funds with longer average maturity targets. In addition, we continued to see heightened call activity during the reporting period, as bond issuers sought to lower costs through refinancings and the increase in this activity provided ample cash for purchases.
How did NIM perform during the six-month reporting period ended September 30, 2017?
The table in NIM's Performance Overview and Holding Summaries section of this report provide total returns for the Fund for the six-month, one-year, five-year and ten-year periods ended September 30, 2017. The Fund's returns are compared with the performance of corresponding market indexes.
 

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.
Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio manager as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Fund disclaims any obligation to update publicly or revise any forward-looking statements or views expressed herein.
For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor's (S&P), Moody's Investors Service, Inc. (Moody's) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers' ability to meet their commitments.
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.
 
NUVEEN 5

 

Portfolio Manager's Comments (continued)
For the six months ended September 30, 2017, the total return on net asset value (NAV) for NIM outperformed the S&P Municipal Bond Intermediate Index.
The main drivers of the Fund's performance during this reporting period were credit exposures and sector allocations. Lower rated bonds continued to outperform higher rated bonds during this reporting period. The Fund remained overweight to bonds rated A and below, which was beneficial to performance because these segments, especially single A and BBB bonds, performed well. Given the strong performance of lower quality credits, the sectors with greater concentrations of lower rated bonds were the top performers, including the health care, industrial development revenue/pollution control revenue (IDR/PCR) and tobacco sectors. NIM held overweight allocations in these sectors, which drove relative gains.
The Fund's duration and yield curve positioning was modestly favorable to performance. NIM's duration was shorter than the benchmark's, which was disadvantageous in this environment where longer bonds outperformed shorter bonds. However, the Fund's overweight to longer duration bonds outperformed its exposure to shorter duration bonds, and this positioning contributed positively to performance.
Additionally, NIM's performance was further aided by some bonds that appreciated on improving credit situations. The Fund's holdings in Chicago credits, including the Chicago Board of Education, IDR/PCR FirstEnergy Solution bonds and New Jersey state debt were notable performers in this reporting period.
Given the continued news about economic problems in Puerto Rico, we should note that NIM has no exposure to Puerto Rico bonds.
Note About Investment Valuations
The municipal securities held by the Fund are valued by the Fund's pricing service using a range of market-based inputs and assumptions. A different municipal pricing service might incorporate different assumptions and inputs into its valuation methodology, potentially resulting in different values for the same securities. Thus, the current net asset value of the Fund's shares might be impacted, higher or lower, if the Fund were to use a different pricing service, or if its pricing service were to materially change its valuation methodology. On October 4, 2016, the Fund's then-current municipal bond pricing service was acquired by the parent company of another pricing service, and the combination of the valuation methodologies used by the two organizations took place on October 16, 2017, subsequent to the close of the reporting period of this report. The change of valuation methodologies due to that combination had little or no impact on the net asset value of the Fund's shares.
 
6 NUVEEN

 
Share Information
DISTRIBUTION INFORMATION
The following information regarding the Fund's distributions is current as of September 30, 2017. The Fund's distribution levels may vary over time based on its investment activity and portfolio investment value changes.
During the current reporting period, the Fund's distributions to shareholders were as shown in the accompanying table. 
 
Monthly Distributions (Ex-Dividend Date) 
 
Per Share
Amounts
 
April 2017 
 
$
0.0260
 
May 
   
0.0260
 
June 
   
0.0260
 
July 
   
0.0260
 
August 
   
0.0260
 
September 2017 
   
0.0260
 
Total Distributions from Net Investment Income 
 
$
0.1560
 
Yields 
       
Market Yield* 
   
3.03
%
Taxable-Equivalent Yield* 
   
4.21
%
 
*     
Market Yield is based on the Fund's current annualized monthly distribution divided by the Fund's current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on an income tax rate of 28.0%. When comparing the Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield would be lower.
 
The Fund seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit the Fund to maintain a more stable monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. If the Fund has cumulatively earned more than it has paid in dividends, it will hold the excess in reserve as undistributed net investment income (UNII) as part of the Fund's net asset value. Conversely, if the Fund has cumulatively paid in dividends more than it has earned, the excess will constitute a negative UNII that will likewise be reflected in the Fund's net asset value. The Fund will, over time, pay all its net investment income as dividends to shareholders.
As of September 30, 2017, the Fund had a positive UNII balance, based upon our best estimate, for tax purposes and a positive UNII balance for financial reporting purposes.
All monthly dividends paid by the Fund during the current reporting period were paid from net investment income. If a portion of the Fund's monthly distributions was sourced from or comprised of elements other than net investment income, including capital gains and/or a return of capital, the Fund's shareholders would have received a notice to that effect. For financial reporting purposes, the composition and per share amounts of the Fund's dividends for the reporting period are presented in the Statement of Changes in Net Assets and Financial Highlights, respectively. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 — Income Tax Information within the Notes to Financial Statements of this report.
 
NUVEEN 7

Share Information (continued)
 
SHARE REPURCHASES
During August 2017, the Fund's Board of Trustees reauthorized an open-market share repurchase program, allowing the Fund to repurchase an aggregate of up to approximately 10% of its outstanding shares.
As of September 30, 2017, and since the inception of the Fund's repurchase program, the Fund has cumulatively repurchased and retired its outstanding shares as shown in the accompanying table.
   
Shares cumulatively repurchased and retired 
0 
Shares authorized for repurchase 
1,245,000 
 
OTHER SHARE INFORMATION
As of September 30, 2017, and during the current reporting period, the Fund's share price was trading at a premium/(discount) to its NAV as shown in the accompanying table.
   
NAV 
$10.52 
Share price 
$10.31 
Premium/(Discount) to NAV 
(2.00)% 
6-month average premium/(discount) to NAV 
(2.99)% 
 
 
8 NUVEEN

 

Risk Considerations
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation.
Nuveen Select Maturities Municipal Fund (NIM)
Investing in closed-end funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Closed-end fund shares may frequently trade at a discount or premium to their net asset value. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, derivatives risk, liquidity risk, and income risk. As interest rates rise, bond prices fall. These and other risk considerations such as tax risk are described in more detail on the Fund's web page at www.nuveen.com/NIM.
 
NUVEEN 9

 

NIM
Nuveen Select Maturities Municipal Fund
Performance Overview and Holding Summaries as of September 30, 2017
Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.
Average Annual Total Returns as of September 30, 2017
           
 
Cumulative 
 
 
Average Annual 
 
 
6-Month 
 
1-Year 
5-Year 
10-Year 
NIM at NAV 
3.87% 
 
1.08% 
2.97% 
4.09% 
NIM at Share Price 
5.46% 
 
(0.54)% 
1.59% 
4.70% 
S&P Municipal Bond Intermediate Index 
2.97% 
 
0.96% 
2.85% 
4.61% 
 
Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund's shares at NAV only. Indexes are not available for direct investment.
 
10 NUVEEN

 

This data relates to the securities held in the Fund's portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change.
For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor's Group, Moody's Investors Service, Inc. or Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by these national rating agencies.
   
Fund Allocation 
 
(% of net assets) 
 
Long-Term Municipal Bonds 
98.7% 
Corporate Bonds 
0.0% 
Short-Term Municipal Bonds 
0.7% 
Other Assets Less Liabilities 
0.6% 
Net Assets 
100% 
 
 
Portfolio Credit Quality 
 
(% of total investments) 
 
AAA/U.S. Guaranteed 
13.3% 
AA 
20.9% 
A 
33.0% 
BBB 
22.3% 
BB or Lower 
6.8% 
N/R (not rated) 
3.7% 
Total 
100% 
 
   
Portfolio Composition 
 
(% of total investments) 
 
Tax Obligation/Limited 
20.1% 
Transportation 
14.8% 
Health Care 
14.6% 
Utilities 
13.5% 
Tax Obligation/General 
13.2% 
U.S. Guaranteed 
9.2% 
Consumer Staples 
5.0% 
Other 
9.6% 
Total 
100% 
 
   
States and Territories 
 
(% of total municipal bonds) 
 
Illinois 
18.7% 
Texas 
8.8% 
New Jersey 
7.9% 
Pennsylvania 
5.8% 
California 
5.8% 
Ohio 
5.2% 
New York 
4.4% 
Wisconsin 
4.3% 
Florida 
3.9% 
South Carolina 
3.8% 
Arizona 
3.2% 
Louisiana 
2.4% 
Nevada 
2.3% 
Washington 
2.3% 
Indiana 
2.0% 
Other 
19.2% 
Total 
100% 
 
 
NUVEEN 11


Shareholder Meeting Report
The annual meeting of shareholders was held in the offices of Nuveen on August 2, 2017 for NIM; at this meeting the shareholders were asked to elect Board Members.
   
 
NIM 
 
Common 
 
Shares 
 
Approval of the Board Members was reached as follows: 
 
David J. Kundert 
 
For 
11,348,350 
Withhold 
203,480 
Total 
11,551,830 
John K. Nelson 
 
For 
11,343,133 
Withhold 
208,697 
Total 
11,551,830 
Terence J. Toth 
 
For 
11,349,294 
Withhold 
202,536 
Total 
11,551,830 
Robert L. Young 
 
For 
11,338,856 
Withhold 
212,974 
Total 
11,551,830 
 
 
12 NUVEEN

 

         
NIM 
 
 
 
 
Nuveen Select Maturities Municipal Fund 
 
 
 
Portfolio of Investments 
September 30, 2017 (Unaudited) 
 
 
 
Principal 
Amount (000) 
 
 
Optional Call 
Provisions (2) 
 
 
 
Description (1) 
Ratings (3) 
Value 
 
 
LONG-TERM INVESTMENTS – 98.7% 
 
 
 
           
 
 
MUNICIPAL BONDS – 98.7% 
 
 
 
           
 
 
Alabama – 0.7% 
 
 
 
$        375 
 
Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016, 4.000%, 
3/21 at 100.59 
A1 
$        405,649 
 
 
7/01/46 (Mandatory put 6/01/21) 
 
 
 
350 
 
Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 
4/22 at 100.52 
A1 
385,920 
 
 
8/01/47 (Mandatory put 7/01/22) 
 
 
 
125 
 
Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill 
4/25 at 100.00 
N/R 
130,420 
 
 
College Project, Series 2015, 5.000%, 4/15/27 
 
 
 
850 
 
Total Alabama 
 
 
921,989 
 
 
Alaska – 0.1% 
 
 
 
155 
 
Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/21 
4/20 at 100.00 
A1 
169,657 
 
 
Arizona – 3.2% 
 
 
 
 
 
Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children's 
 
 
 
 
 
Hospital, Refunding Series 2012A: 
 
 
 
275 
 
5.000%, 2/01/20 
No Opt. Call 
BBB+ 
295,988 
290 
 
5.000%, 2/01/27 
2/22 at 100.00 
BBB+ 
318,017 
 
 
Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility 
 
 
 
 
 
Project, Refunding Senior Series 2012A: 
 
 
 
425 
 
5.000%, 7/01/25 
7/22 at 100.00 
A1 
472,961 
685 
 
5.000%, 7/01/26 
7/22 at 100.00 
A1 
758,884 
685 
 
5.000%, 7/01/27 
7/22 at 100.00 
A1 
755,336 
115 
 
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power 
3/23 at 100.00 
A– 
121,243 
 
 
Company Project, Series 2013A, 4.000%, 9/01/29 
 
 
 
 
 
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc 
 
 
 
 
 
Prepay Contract Obligations, Series 2007: 
 
 
 
150 
 
5.000%, 12/01/17 
No Opt. Call 
BBB+ 
150,993 
135 
 
5.250%, 12/01/19 
No Opt. Call 
BBB+ 
145,626 
165 
 
5.000%, 12/01/32 
No Opt. Call 
BBB+ 
197,606 
715 
 
5.000%, 12/01/37 
No Opt. Call 
BBB+ 
857,642 
120 
 
The Industrial Development Authority of the City of Phoenix, Arizona Education Facility 
7/19 at 101.00 
N/R 
118,561 
 
 
Revenue Bonds, Legacy Traditional Schools East Mesa and Cadence (Nevada) 
 
 
 
 
 
Campuses, Series 2017A, 144A, 4.000%, 7/01/22 
 
 
 
3,760 
 
Total Arizona 
 
 
4,192,857 
 
 
Arkansas – 0.4% 
 
 
 
540 
 
Independence County, Arkansas, Pollution Control Revenue Bonds, Arkansas Power and Light 
No Opt. Call 
A 
556,519 
 
 
Company Project, Series 2013, 2.375%, 1/01/21 
 
 
 
 
 
California – 5.8% 
 
 
 
300 
 
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior Lien 
No Opt. Call 
A 
357,378 
 
 
Series 2013A, 5.000%, 10/01/23 
 
 
 
390 
 
California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 
2/27 at 100.00 
A+ 
403,677 
 
 
2017, 3.750%, 2/01/32 
 
 
 
275 
 
California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace 
7/26 at 100.00 
BB 
294,500 
 
 
Academy Project, Series 2016A, 144A, 5.000%, 7/01/31 
 
 
 
105 
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste 
No Opt. Call 
A– 
108,319 
 
 
Management Inc., Refunding Series 2015B-2, 3.125%, 11/01/40 (Mandatory put 11/03/25) 
 
 
 
 
 
(Alternative Minimum Tax) 
 
 
 
 
NUVEEN 13

     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
California (continued) 
 
 
 
$      290 
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste 
No Opt. Call 
A– 
$     311,808 
 
 
Management Inc., Series 2015A-1, 3.375%, 7/01/25 (Alternative Minimum Tax) 
 
 
 
205 
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste 
No Opt. Call 
A– 
215,379 
 
 
Management, Inc. Project, Refunding Series 2015B-1, 3.000%, 11/01/25 (Alternative Minimum Tax) 
 
 
 
525 
 
California State, General Obligation Bonds, Various Purpose Series 2010, 5.500%, 3/01/40 
3/20 at 100.00 
AA– 
578,245 
125 
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda 
12/24 at 100.00 
BB+ 
141,557 
 
 
University Medical Center, Series 2014A, 5.250%, 12/01/29 
 
 
 
250 
 
Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 
1/23 at 100.00 
BBB 
274,132 
 
 
2012, 5.000%, 1/01/24 
 
 
 
125 
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
11/17 at 100.00 
B+ 
124,862 
 
 
Bonds, Series 2007A-1, 5.000%, 6/01/33 
 
 
 
100 
 
Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills 
9/24 at 100.00 
N/R 
111,620 
 
 
Improvement Area A & C, Series 2014C, 5.000%, 9/01/32 
 
 
 
325 
 
Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities 
10/17 at 100.00 
AA 
325,887 
 
 
District 90-2, Series 2007A, 4.500%, 10/01/24 – AGM Insured 
 
 
 
1,000 
 
Mount San Antonio Community College District, Los Angeles County, California, General 
2/28 at 100.00 
Aa1 
962,270 
 
 
Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/28 (4) 
 
 
 
2,000 
 
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/25 – 
No Opt. Call 
AA 
1,620,600 
 
 
AGC Insured 
 
 
 
35 
 
Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 
6/23 at 100.00 
BBB– 
39,478 
 
 
2013A, 5.750%, 6/01/44 
 
 
 
2,000 
 
San Diego Community College District, California, General Obligation Bonds, Refunding Series 
No Opt. Call 
Aaa 
1,008,720 
 
 
2011, 0.000%, 8/01/37 
 
 
 
415 
 
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue 
1/25 at 100.00 
BBB 
467,116 
 
 
Bonds, Refunding Senior Lien Series 2014A, 5.000%, 1/15/29 
 
 
 
215 
 
Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A, 
No Opt. Call 
Baa1 
249,391 
 
 
5.000%, 7/01/25 
 
 
 
8,680 
 
Total California 
 
 
7,594,939 
 
 
Colorado – 1.4% 
 
 
 
250 
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, 
No Opt. Call 
BBB+ 
276,780 
 
 
Series 2008D-3, 5.000%, 10/01/38 (Mandatory put 11/12/21) 
 
 
 
 
 
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B: 
 
 
 
300 
 
0.000%, 9/01/29 – NPFG Insured 
No Opt. Call 
A 
205,227 
250 
 
0.000%, 9/01/33 – NPFG Insured 
No Opt. Call 
A 
141,427 
5 
 
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2007A-1, 5.250%, 
No Opt. Call 
A 
5,168 
 
 
9/01/18 – NPFG Insured 
 
 
 
1,000 
 
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 3/01/36 – 
9/20 at 41.72 
A 
377,740 
 
 
NPFG Insured 
 
 
 
500 
 
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding 
No Opt. Call 
N/R 
533,305 
 
 
Series 2013, 144A, 5.000%, 12/01/20 
 
 
 
210 
 
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private 
7/20 at 100.00 
BBB+ 
230,395 
 
 
Activity Bonds, Series 2010, 6.000%, 1/15/41 
 
 
 
2,515 
 
Total Colorado 
 
 
1,770,042 
 
 
Connecticut – 0.8% 
 
 
 
100 
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility 
12/17 at 100.00 
N/R 
99,568 
 
 
Expansion Church Home of Hartford Inc. Project, TEMPS-50 Series 2016B-2, 144A, 
 
 
 
 
 
2.875%, 9/01/20 
 
 
 
905 
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, 
No Opt. Call 
AAA 
904,647 
 
 
Series 2010A-3, 0.875%, 7/01/49 (Mandatory put 2/08/18) 
 
 
 
1,005 
 
Total Connecticut 
 
 
1,004,215 
 
14 NUVEEN

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Delaware – 0.1% 
 
 
 
$          170 
 
Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013, 
7/23 at 100.00 
BBB 
$       183,687 
 
 
5.000%, 7/01/28 
 
 
 
 
 
District of Columbia – 0.9% 
 
 
 
120 
 
District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC 
10/22 at 100.00 
BB+ 
124,074 
 
 
Issue, Series 2013, 5.000%, 10/01/30 
 
 
 
935 
 
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, 
No Opt. Call 
Baa1 
1,050,379 
 
 
Series 2001, 6.500%, 5/15/33 
 
 
 
1,055 
 
Total District of Columbia 
 
 
1,174,453 
 
 
Florida – 3.6% 
 
 
 
295 
 
Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 
No Opt. Call 
AA 
295,749 
 
 
2017, 3.000%, 9/01/28 – AGM Insured 
 
 
 
 
 
Citizens Property Insurance Corporation, Florida, Coastal Account Senior Secured Bonds, 
 
 
 
 
 
Series 2015A-1: 
 
 
 
555 
 
5.000%, 6/01/22 
12/21 at 100.00 
AA 
633,455 
365 
 
5.000%, 6/01/25 
12/24 at 100.00 
AA 
436,566 
200 
 
Citizens Property Insurance Corporation, Florida, High-Risk Account Revenue Bonds, Coastal 
No Opt. Call 
AA 
205,278 
 
 
Account Senior Secured Series 2011A-1, 5.000%, 6/01/18 
 
 
 
 
 
Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, 
 
 
 
 
 
Senior Secured Series 2012A-1: 
 
 
 
50 
 
5.000%, 6/01/18 
No Opt. Call 
AA 
51,319 
455 
 
5.000%, 6/01/20 
No Opt. Call 
AA 
499,549 
 
 
Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, 
 
 
 
 
 
Refunding Series 2013: 
 
 
 
90 
 
4.750%, 11/01/23 
No Opt. Call 
BBB– 
94,756 
370 
 
6.000%, 11/01/33 
11/23 at 100.00 
BBB– 
417,290 
 
 
Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, 
 
 
 
 
 
Series 2009: 
 
 
 
10 
 
5.500%, 6/01/29 (Pre-refunded 6/01/19) – AGM Insured 
6/19 at 100.00 
AA (5) 
10,751 
10 
 
5.625%, 6/01/34 (Pre-refunded 6/01/19) – AGC Insured 
6/19 at 100.00 
AA (5) 
10,772 
480 
 
North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 
No Opt. Call 
A 
509,002 
 
 
5.000%, 10/01/20 
 
 
 
90 
 
Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH 
12/24 at 100.00 
BBB+ 
99,636 
 
 
Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/31 
 
 
 
720 
 
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System 
12/17 at 100.00 
AA– 
722,383 
 
 
Obligation Group, Refunding Series 2007, 5.000%, 8/15/27 
 
 
 
 
 
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, 
 
 
 
 
 
Refunding & Capital Improvement Series 2012A: 
 
 
 
120 
 
5.000%, 9/01/22 
No Opt. Call 
A+ 
138,478 
350 
 
5.000%, 9/01/23 
9/22 at 100.00 
A+ 
401,457 
185 
 
5.000%, 9/01/25 
9/22 at 100.00 
A+ 
211,605 
4,345 
 
Total Florida 
 
 
4,738,046 
 
 
Georgia – 0.9% 
 
 
 
180 
 
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 1995, 5.200%, 
8/22 at 100.00 
A (5) 
197,811 
 
 
8/01/25 (Pre-refunded 8/01/22) – NPFG Insured 
 
 
 
900 
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, 
10/22 at 100.00 
Baa2 
1,021,212 
 
 
Refunding Series 2012C, 5.250%, 10/01/23 
 
 
 
1,080 
 
Total Georgia 
 
 
1,219,023 
 
 
NUVEEN 15

     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Guam – 0.3% 
 
 
 
$      140 
 
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 
7/23 at 100.00 
A– 
$     154,858 
 
 
5.500%, 7/01/43 
 
 
 
150 
 
Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 
10/23 at 100.00 
BBB 
171,604 
 
 
(Alternative Minimum Tax) 
 
 
 
290 
 
Total Guam 
 
 
326,462 
 
 
Hawaii – 1.4% 
 
 
 
200 
 
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific 
7/23 at 100.00 
BB 
214,000 
 
 
University, Series 2013A, 6.250%, 7/01/27 
 
 
 
1,000 
 
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric 
No Opt. Call 
A– 
1,018,450 
 
 
Company, Inc. and Subsidiary Projects, Series 2017A, 3.100%, 5/01/26 (Alternative Minimum Tax) 
 
 
 
20 
 
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, 
7/25 at 100.00 
AA– 
23,474 
 
 
Series 2015A, 5.000%, 7/01/29 
 
 
 
510 
 
Hawaiian Electric Company Inc. and Its Subsidiaries, Special Purpose Revenue Bonds, Department of 
No Opt. Call 
A– 
533,154 
 
 
Budget and Finance of the State of Hawaii, Series 2015, 3.250%, 1/01/25 (Alternative Minimum Tax) 
 
 
 
1,730 
 
Total Hawaii 
 
 
1,789,078 
 
 
Idaho – 0.4% 
 
 
 
565 
 
Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, 
No Opt. Call 
BB+ 
547,977 
 
 
Refunding Series 2016, 2.750%, 10/01/24 
 
 
 
 
 
Illinois – 18.2% 
 
 
 
 
 
Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016: 
 
 
 
10 
 
2.150%, 3/01/23 – BAM Insured 
No Opt. Call 
AA 
9,962 
10 
 
2.350%, 3/01/24 – BAM Insured 
No Opt. Call 
AA 
9,946 
25 
 
2.700%, 3/01/26 – BAM Insured 
3/25 at 100.00 
AA 
24,647 
25 
 
2.900%, 3/01/28 – BAM Insured 
3/25 at 100.00 
AA 
24,187 
25 
 
3.050%, 3/01/30 – BAM Insured 
3/25 at 100.00 
AA 
24,392 
 
 
Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016: 
 
 
 
15 
 
2.150%, 3/01/23 – BAM Insured 
No Opt. Call 
AA 
14,943 
15 
 
2.350%, 3/01/24 – BAM Insured 
No Opt. Call 
AA 
14,919 
25 
 
2.700%, 3/01/26 – BAM Insured 
3/25 at 100.00 
AA 
24,647 
35 
 
2.900%, 3/01/28 – BAM Insured 
3/25 at 100.00 
AA 
34,074 
40 
 
3.050%, 3/01/30 – BAM Insured 
3/25 at 100.00 
AA 
38,875 
1,215 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Capital Improvement 
4/27 at 100.00 
A 
1,434,028 
 
 
Revenues, Series 2016, 6.000%, 4/01/46 
 
 
 
190 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
No Opt. Call 
B+ 
190,502 
 
 
Series 2010F, 5.000%, 12/01/17 
 
 
 
45 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
No Opt. Call 
N/R (5) 
45,321 
 
 
Series 2010F, 5.000%, 12/01/17 (ETM) 
 
 
 
750 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
12/27 at 100.00 
N/R 
902,115 
 
 
Series 2017B, 144A, 6.750%, 12/01/30 
 
 
 
300 
 
Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien 
1/25 at 100.00 
A 
338,223 
 
 
Refunding Series 2015A, 5.000%, 1/01/33 (Alternative Minimum Tax) 
 
 
 
75 
 
Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C, 
1/19 at 100.00 
BBB+ 
77,338 
 
 
5.000%, 1/01/27 
 
 
 
 
 
Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C: 
 
 
 
200 
 
5.000%, 1/01/23 
No Opt. Call 
BBB+ 
221,356 
225 
 
5.000%, 1/01/24 
No Opt. Call 
BBB+ 
251,707 
190 
 
5.000%, 1/01/25 
No Opt. Call 
BBB+ 
213,813 
55 
 
5.000%, 1/01/26 
No Opt. Call 
BBB+ 
62,087 
325 
 
Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 11/15/21 
No Opt. Call 
AA– 
363,542 
185 
 
Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A, 5.000%, 11/15/20 
No Opt. Call 
AA– 
202,582 
 
 
16 NUVEEN

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Illinois (continued) 
 
 
 
$       1,997 
 
Huntley, Illinois, Special Service Area 9, Special Tax Bonds, Series 2007, 5.100%, 3/01/28 
10/17 at 100.00 
AA (5) 
$     2,003,670 
 
 
(Pre-refunded 10/30/17) – AGC Insured 
 
 
 
590 
 
Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 3.300%, 
3/26 at 100.00 
AA 
593,186 
 
 
3/01/28 (WI/DD, Settling 10/18/17) – BAM Insured 
 
 
 
625 
 
Illinois Finance Authority, Gas Supply Refunding Revenue Bonds, The Peoples Gas Light and Coke 
No Opt. Call 
A 
631,631 
 
 
Company Project, Series 2010B, 1.875%, 2/01/33 (Mandatory put 8/01/20) 
 
 
 
455 
 
Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27 
9/22 at 100.00 
BBB– 
492,301 
560 
 
Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 
9/24 at 100.00 
BBB– 
573,306 
 
 
4.625%, 9/01/39 
 
 
 
275 
 
Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Series 2008A, 5.500%, 
7/18 at 100.00 
A (5) 
284,287 
 
 
7/01/38 (Pre-refunded 7/01/18) 
 
 
 
890 
 
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 5.750%, 
11/17 at 100.00 
A (5) 
895,660 
 
 
11/15/37 (Pre-refunded 11/15/17) 
 
 
 
1,850 
 
Illinois Finance Authority, Revenue Bonds, Presence Health Network, Series 2016C, 
No Opt. Call 
BBB 
2,022,068 
 
 
4.000%, 2/15/24 
 
 
 
250 
 
Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007, 5.250%, 4/01/22 
12/17 at 100.00 
Ba2 
250,102 
 
 
Illinois State, General Obligation Bonds, February Series 2014: 
 
 
 
370 
 
5.000%, 2/01/25 
2/24 at 100.00 
BBB 
404,810 
325 
 
5.000%, 2/01/26 
2/24 at 100.00 
BBB 
355,404 
 
 
Illinois State, General Obligation Bonds, Refunding Series 2012: 
 
 
 
390 
 
5.000%, 8/01/20 
No Opt. Call 
BBB 
416,029 
335 
 
5.000%, 8/01/21 
No Opt. Call 
BBB 
362,162 
1,000 
 
5.000%, 8/01/22 
No Opt. Call 
BBB 
1,088,880 
320 
 
5.000%, 8/01/23 
No Opt. Call 
BBB 
350,979 
300 
 
Illinois State, General Obligation Bonds, Series 2012A, 4.000%, 1/01/20 
No Opt. Call 
BBB 
310,068 
 
 
Illinois State, General Obligation Bonds, Series 2013: 
 
 
 
280 
 
5.500%, 7/01/25 
7/23 at 100.00 
BBB 
313,748 
240 
 
5.500%, 7/01/26 
7/23 at 100.00 
BBB 
268,795 
470 
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 
1/26 at 100.00 
AA– 
548,363 
 
 
2016A, 5.000%, 12/01/31 
 
 
 
450 
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015B, 
1/26 at 100.00 
AA– 
513,243 
 
 
5.000%, 1/01/37 
 
 
 
1,380 
 
Kane & DeKalb Counties Community Unit School District 301, Illinois, General Obligation Bonds, 
No Opt. Call 
Aa2 
1,356,319 
 
 
Series 2006, 0.000%, 12/01/18 – NPFG Insured 
 
 
 
1,000 
 
Peoria Public Building Commission, Illinois, School District Facility Revenue Bonds, Peoria 
12/18 at 79.62 
AA 
782,190 
 
 
County School District 150 Project, Series 2009A, 0.000%, 12/01/22 – AGC Insured 
 
 
 
 
 
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, 
 
 
 
 
 
Series 2010: 
 
 
 
725 
 
5.000%, 6/01/19 
No Opt. Call 
A 
769,297 
1,025 
 
5.250%, 6/01/21 
No Opt. Call 
A 
1,161,417 
60 
 
6.250%, 6/01/24 
11/17 at 100.00 
A 
61,223 
310 
 
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, 
No Opt. Call 
AA 
332,831 
 
 
Illinois, General Obligation Bonds, Series 1994D, 7.750%, 6/01/19 – FGIC Insured 
 
 
 
 
 
Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, 
 
 
 
 
 
Inc., Series 2013: 
 
 
 
50 
 
7.250%, 11/01/33 (Pre-refunded 11/01/23) 
11/23 at 100.00 
N/R (5) 
66,417 
95 
 
7.250%, 11/01/36 (Pre-refunded 11/01/23) 
11/23 at 100.00 
N/R (5) 
126,192 
200 
 
7.625%, 11/01/48 (Pre-refunded 11/01/23) 
11/23 at 100.00 
N/R (5) 
270,006 
 
 
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015: 
 
 
 
230 
 
5.000%, 3/01/33 
3/25 at 100.00 
A 
260,399 
145 
 
5.000%, 3/01/34 – AGM Insured 
3/25 at 100.00 
AA 
163,959 
500 
 
Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, 
No Opt. Call 
A+ 
553,335 
 
 
Series 2012, 4.000%, 11/01/22 
 
 
 
 
NUVEEN 17

 

     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Illinois (continued) 
 
 
 
$         355 
 
Will, Grundy, Kendall, LaSalle, Kankakee, Livingston and Cook Counties Community College 
6/18 at 100.00 
AA 
$        365,522 
 
 
District 525 Joliet Junior College, Illinois, General Obligation Bond, Series 2008, 
 
 
 
 
 
5.750%, 6/01/28 
 
 
 
390 
 
Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, Limited Tax 
10/19 at 103.00 
BBB+ 
423,442 
 
 
General Obligation Lease Certificates, Series 2011, 7.000%, 10/15/22 
 
 
 
22,417 
 
Total Illinois 
 
 
23,894,447 
 
 
Indiana – 2.0% 
 
 
 
115 
 
Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For 
10/19 at 100.00 
B– 
114,878 
 
 
Educational Excellence, Inc., Series 2009A, 6.000%, 10/01/21 
 
 
 
140 
 
Indianapolis, Indiana, Thermal Energy System Revenue Bonds, Refunding First Lien Series 2014A, 
10/24 at 100.00 
A 
160,236 
 
 
5.000%, 10/01/31 
 
 
 
255 
 
Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public 
No Opt. Call 
A 
270,456 
 
 
Service Company Project, Series 1994A Remarketed, 5.850%, 4/01/19 – NPFG Insured 
 
 
 
250 
 
Lake County Building Corporation, Indiana, First Mortgage Bonds, Series 2012, 4.750%, 2/01/21 
No Opt. Call 
N/R 
263,477 
250 
 
Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding 
8/24 at 100.00 
A 
292,050 
 
 
Series 2014, 5.000%, 2/01/29 
 
 
 
865 
 
Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. 
No Opt. Call 
A– 
869,680 
 
 
Project, Series 2008, 1.850%, 6/01/44 (Mandatory put 10/01/19) 
 
 
 
600 
 
Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. 
No Opt. Call 
A– 
684,456 
 
 
Project, Series 2015, 5.000%, 11/01/45 (Mandatory put 11/01/22) (Alternative Minimum Tax) 
 
 
 
2,475 
 
Total Indiana 
 
 
2,655,233 
 
 
Iowa – 1.1% 
 
 
 
500 
 
Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.250%, 6/15/27 
6/20 at 100.00 
A2 (5) 
554,580 
 
 
(Pre-refunded 6/15/20) 
 
 
 
 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
 
 
 
 
 
Project, Series 2013: 
 
 
 
220 
 
5.000%, 12/01/19 
No Opt. Call 
B 
227,647 
215 
 
5.500%, 12/01/22 
12/18 at 100.00 
B 
219,777 
200 
 
5.250%, 12/01/25 
12/23 at 100.00 
B 
212,172 
185 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
6/19 at 105.00 
B 
197,269 
 
 
Project, Series 2016, 144A, 5.875%, 12/01/27 
 
 
 
1,320 
 
Total Iowa 
 
 
1,411,445 
 
 
Kansas – 0.1% 
 
 
 
105 
 
Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, 
No Opt. Call 
A+ 
121,670 
 
 
Refunding & Improvement Series 2014A, 5.000%, 9/01/22 
 
 
 
 
 
Kentucky – 1.0% 
 
 
 
550 
 
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, 
6/27 at 100.00 
BBB 
615,257 
 
 
Refunding Series 2017A, 5.000%, 6/01/31 
 
 
 
350 
 
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, 
6/18 at 100.00 
AA 
356,307 
 
 
Louisville Arena Authority, Inc., Series 2008-A1, 5.750%, 12/01/28 – AGC Insured 
 
 
 
340 
 
Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease 
6/21 at 100.00 
A1 
376,825 
 
 
Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/29 
 
 
 
1,240 
 
Total Kentucky 
 
 
1,348,389 
 
 
Louisiana – 2.4% 
 
 
 
240 
 
De Soto Parrish, Louisiana, Pollution Control Revenue Bonds, Southwestern Electric Power 
No Opt. Call 
A– 
240,166 
 
 
Company Project, Refunding Series 2010, 1.600%, 1/01/19 
 
 
 
455 
 
Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East 
7/21 at 100.00 
BB 
482,123 
 
 
Jefferson General Hospital, Refunding Series 2011, 6.375%, 7/01/41 
 
 
 
 
18 NUVEEN

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Louisiana (continued) 
 
 
 
 
 
Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006-C1: 
 
 
 
$           175 
 
5.875%, 6/01/23 (Pre-refunded 6/01/18) 
6/18 at 100.00 
AA (5) 
$      180,824 
10 
 
6.000%, 6/01/24 (Pre-refunded 6/01/18) 
6/18 at 100.00 
AA (5) 
10,341 
150 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/26 at 100.00 
A3 
174,856 
 
 
Refunding Series 2016, 5.000%, 5/15/29 
 
 
 
100 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/27 at 100.00 
A3 
117,176 
 
 
Refunding Series 2017, 5.000%, 5/15/30 
 
 
 
 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
 
 
 
 
 
Series 2015: 
 
 
 
525 
 
5.000%, 5/15/22 
No Opt. Call 
A3 
600,232 
335 
 
5.000%, 5/15/24 
No Opt. Call 
A3 
396,359 
110 
 
New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015, 5.000%, 12/01/25 
No Opt. Call 
AA– 
131,780 
100 
 
New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, 5.000%, 6/01/32 
6/25 at 100.00 
A 
114,867 
590 
 
Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 
No Opt. Call 
BBB 
624,019 
 
 
2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) 
 
 
 
2,790 
 
Total Louisiana 
 
 
3,072,743 
 
 
Maine – 0.0% 
 
 
 
35 
 
Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013, 5.000%, 7/01/22 
No Opt. Call 
BBB+ 
40,125 
 
 
Maryland – 0.3% 
 
 
 
335 
 
Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017, 
9/27 at 100.00 
BBB– 
394,640 
 
 
5.000%, 9/01/30 
 
 
 
 
 
Massachusetts – 1.0% 
 
 
 
200 
 
Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, 
7/24 at 100.00 
BBB– 
218,720 
 
 
Series 2014A, 5.000%, 7/01/27 
 
 
 
500 
 
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 
10/17 at 100.00 
N/R 
500,910 
 
 
5.000%, 10/01/19 
 
 
 
 
 
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., 
 
 
 
 
 
Series 2001A: 
 
 
 
100 
 
5.200%, 1/01/20 – AMBAC Insured (Alternative Minimum Tax) 
12/17 at 100.00 
N/R 
100,381 
470 
 
5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) 
1/18 at 100.00 
N/R 
474,333 
1,270 
 
Total Massachusetts 
 
 
1,294,344 
 
 
Michigan – 1.1% 
 
 
 
400 
 
Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development 
No Opt. Call 
BB 
300,528 
 
 
Area 1 Projects, Series 1996B, 0.000%, 7/01/23 
 
 
 
150 
 
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 
No Opt. Call 
A 
181,444 
 
 
7/01/29 – FGIC Insured 
 
 
 
150 
 
Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & 
7/25 at 100.00 
A– 
167,098 
 
 
Sewerage Department Sewage Disposal System Local Project, Second Lien Series 2015C, 
 
 
 
 
 
5.000%, 7/01/34 
 
 
 
705 
 
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County 
12/25 at 100.00 
A 
803,199 
 
 
Airport, Refunding Series 2015F, 5.000%, 12/01/33 (Alternative Minimum Tax) 
 
 
 
1,405 
 
Total Michigan 
 
 
1,452,269 
 
 
Missouri – 1.2% 
 
 
 
100 
 
Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson 
11/25 at 100.00 
N/R 
100,478 
 
 
Shoppes Redevelopment Project, Refunding Series 2017A, 4.000%, 11/01/26 
 
 
 
100 
 
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, 
5/23 at 100.00 
BBB+ 
110,143 
 
 
Saint Louis College of Pharmacy, Series 2013, 5.250%, 5/01/33 
 
 
 
30 
 
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, 
11/23 at 100.00 
BBB 
30,782 
 
 
Saint Louis College of Pharmacy, Series 2015B, 4.000%, 5/01/32 
 
 
 
 
NUVEEN 19

 

     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Missouri (continued) 
 
 
 
$        1,070 
 
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 
No Opt. Call 
A 
$     1,147,917 
 
 
2005, 5.500%, 7/01/19 – NPFG Insured 
 
 
 
170 
 
St. Louis County, Missouri, GNMA Collateralized Mortgage Revenue Bonds, Series 1989A, 8.125%, 
7/20 at 100.00 
AA+ (5) 
185,575 
 
 
8/01/20 (Pre-refunded 7/01/20) (Alternative Minimum Tax) 
 
 
 
1,470 
 
Total Missouri 
 
 
1,574,895 
 
 
Montana – 0.3% 
 
 
 
260 
 
Billings, Montana, Tax Increment Urban Renewal Revenue Bonds, Expanded North 27th Street, 
1/23 at 100.00 
N/R 
271,697 
 
 
Series 2013A, 5.000%, 7/01/33 
 
 
 
120 
 
University of Montana, Revenue Bonds, Series 1996D, 5.375%, 5/15/19 – NPFG Insured (ETM) 
No Opt. Call 
A (5) 
125,198 
380 
 
Total Montana 
 
 
396,895 
 
 
Nebraska – 0.1% 
 
 
 
100 
 
Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools 
6/22 at 100.00 
AA– 
110,513 
 
 
Series 2012, 4.000%, 6/15/23 
 
 
 
 
 
Nevada – 2.3% 
 
 
 
1,470 
 
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42 
1/20 at 100.00 
Aa3 
1,621,836 
250 
 
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 
6/19 at 100.00 
BBB+ (5) 
279,170 
 
 
6/15/30 (Pre-refunded 6/15/19) 
 
 
 
50 
 
Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 607 Providence, 
No Opt. Call 
N/R 
53,563 
 
 
Refunding Series 2013, 5.000%, 6/01/22 
 
 
 
175 
 
Washoe County, Nevada, Gas and Water Facilities Revenue Bonds, Sierra Pacific Power Company, 
No Opt. Call 
A+ 
183,739 
 
 
Refunding Series 2016B, 3.000%, 3/01/36 (Mandatory put 6/01/22) 
 
 
 
775 
 
Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, 
7/21 at 100.00 
AA 
877,315 
 
 
Refunding Series 2011, 5.000%, 7/01/23 
 
 
 
2,720 
 
Total Nevada 
 
 
3,015,623 
 
 
New Hampshire – 0.1% 
 
 
 
105 
 
Business Finance Authority of the State of New Hampshire, Water Facility Revenue Bonds, 
1/26 at 100.00 
A+ 
108,166 
 
 
Pennichuck Water Works, Inc. Project ,Series 2015A, 4.250%, 1/01/36 (Alternative Minimum Tax) 
 
 
 
 
 
New Jersey – 7.8% 
 
 
 
500 
 
Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, 
2/24 at 100.00 
BBB+ 
559,915 
 
 
Cooper Health System Obligated Group Issue, Refunding Series 2014A, 5.000%, 2/15/30 
 
 
 
300 
 
Gloucester County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue 
No Opt. Call 
BBB– 
328,350 
 
 
Bonds, Logan Project, Refunding Series 2014A, 5.000%, 12/01/24 (Alternative Minimum Tax) 
 
 
 
 
 
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: 
 
 
 
150 
 
4.000%, 6/15/19 
No Opt. Call 
BBB+ 
155,308 
280 
 
5.000%, 6/15/20 
No Opt. Call 
BBB+ 
301,669 
150 
 
5.000%, 6/15/21 
No Opt. Call 
BBB+ 
164,965 
345 
 
5.000%, 6/15/22 
No Opt. Call 
BBB+ 
385,196 
375 
 
5.000%, 6/15/23 
6/22 at 100.00 
BBB+ 
415,354 
210 
 
5.000%, 6/15/24 
6/22 at 100.00 
BBB+ 
231,384 
510 
 
5.000%, 6/15/25 
6/22 at 100.00 
BBB+ 
558,389 
150 
 
5.000%, 6/15/26 
6/22 at 100.00 
BBB+ 
163,245 
100 
 
4.250%, 6/15/27 
6/22 at 100.00 
BBB+ 
103,619 
300 
 
5.000%, 6/15/28 
6/22 at 100.00 
BBB+ 
323,550 
220 
 
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge 
1/24 at 100.00 
BBB 
243,725 
 
 
Replacement Project, Series 2013, 5.000%, 1/01/28 (Alternative Minimum Tax) 
 
 
 
1,000 
 
New Jersey Economic Development Authority, School Facilities Construction Financing Program 
6/25 at 100.00 
A– 
1,112,320 
 
 
Bonds, Refunding Series 2015XX, 5.000%, 6/15/27 
 
 
 
75 
 
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset 
10/18 at 100.00 
BBB+ 
76,870 
 
 
Transformation Program, Series 2008A, 5.250%, 10/01/38 
 
 
 
 
20 NUVEEN

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
New Jersey (continued) 
 
 
 
$           40 
 
New Jersey Health Care Facilities Financing Authority, State Contract Bonds, Hospital Asset 
10/18 at 100.00 
N/R (5) 
$        41,748 
 
 
Transformation Program, Series 2008A, 5.250%, 10/01/38 (Pre-refunded 10/01/18) 
 
 
 
1,095 
 
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Senior Lien 
12/26 at 100.00 
Aaa 
1,102,545 
 
 
Series 2017-1A, 3.750%, 12/01/31 (Alternative Minimum Tax) 
 
 
 
1,280 
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital 
No Opt. Call 
A– 
629,107 
 
 
Appreciation Series 2010A, 0.000%, 12/15/33 
 
 
 
1,590 
 
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2010D, 
No Opt. Call 
A– 
1,788,686 
 
 
5.000%, 12/15/23 
 
 
 
330 
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2012B, 5.000%, 1/01/19 
No Opt. Call 
A+ 
346,210 
270 
 
Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue 
No Opt. Call 
BBB– 
292,815 
 
 
Bonds, Chambers Project, Refunding Series 2014A, 5.000%, 12/01/23 (Alternative Minimum Tax) 
 
 
 
250 
 
South Jersey Port Corporation, New Jersey, Marine Terminal Revenue Bonds, Refunding Series 
No Opt. Call 
Baa1 
254,605 
 
 
2012Q, 3.000%, 1/01/22 
 
 
 
 
 
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, 
 
 
 
 
 
Series 2007-1A: 
 
 
 
190 
 
4.500%, 6/01/23 
11/17 at 100.00 
BBB+ 
190,181 
230 
 
4.625%, 6/01/26 
11/17 at 100.00 
BBB 
230,219 
160 
 
4.750%, 6/01/34 
11/17 at 100.00 
BB– 
156,403 
70 
 
5.000%, 6/01/41 
11/17 at 100.00 
B 
68,446 
10,170 
 
Total New Jersey 
 
 
10,224,824 
 
 
New Mexico – 1.0% 
 
 
 
715 
 
Farmington, New Mexico, Pollution Control Revenue Bonds, Southern California Edison Company – 
No Opt. Call 
A 
723,330 
 
 
Four Corners Project, Refunding Series 2005A, 1.875%, 4/01/29 (Mandatory put 4/01/20) 
 
 
 
490 
 
New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding 
8/19 at 100.00 
A1 
521,164 
 
 
Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19) 
 
 
 
1,205 
 
Total New Mexico 
 
 
1,244,494 
 
 
New York – 4.3% 
 
 
 
220 
 
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue 
1/20 at 100.00 
AA+ (5) 
245,091 
 
 
Bonds, Barclays Center Project, Series 2009, 6.000%, 7/15/30 (Pre-refunded 1/15/20) 
 
 
 
 
 
Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, 
 
 
 
 
 
Catholic Health System, Inc. Project, Series 2015: 
 
 
 
210 
 
5.000%, 7/01/23 
No Opt. Call 
BBB+ 
241,744 
195 
 
5.000%, 7/01/24 
No Opt. Call 
BBB+ 
226,968 
200 
 
Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center 
6/27 at 100.00 
Baa3 
227,342 
 
 
Obligated Group, Series 2017, 144A, 5.000%, 12/01/28 
 
 
 
775 
 
Dormitory Authority of the State of New York, State University Educational Facilities Revenue 
5/22 at 100.00 
AA 
895,389 
 
 
Bonds, Third General Resolution, Series 2012A, 5.000%, 5/15/25 
 
 
 
175 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
AA– 
200,449 
 
 
2011A, 5.750%, 2/15/47 
 
 
 
260 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
Aa3 (5) 
299,463 
 
 
2011A, 5.750%, 2/15/47 (Pre-refunded 2/15/21) 
 
 
 
 
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A: 
 
 
 
240 
 
0.000%, 6/01/22 – AGM Insured 
No Opt. Call 
AA 
220,558 
170 
 
0.000%, 6/01/24 – AGM Insured 
No Opt. Call 
AA 
147,273 
835 
 
New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New 
No Opt. Call 
A 
850,381 
 
 
York State Electric and Gas Corporation, Series 2005A, 2.375%, 7/01/26 (Mandatory put 5/01/20) 
 
 
 
 
 
(Alternative Minimum Tax) 
 
 
 
435 
 
New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 
No Opt. Call 
A– 
461,361 
 
 
2013A, 5.000%, 5/01/19 
 
 
 
 
NUVEEN 21

     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
New York (continued) 
 
 
 
 
 
New York Transportation Development Corporation, New York, Special Facility Revenue Refunding 
 
 
 
 
 
Bonds, Terminal One Group Association, L.P. Project, Series 2015: 
 
 
 
$           60 
 
5.000%, 1/01/22 (Alternative Minimum Tax) 
No Opt. Call 
A– 
$        67,777 
60 
 
5.000%, 1/01/23 (Alternative Minimum Tax) 
No Opt. Call 
A– 
68,517 
 
 
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport 
 
 
 
 
 
Terminal B Redevelopment Project, Series 2016A: 
 
 
 
135 
 
4.000%, 7/01/32 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
141,426 
175 
 
4.000%, 7/01/33 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
182,723 
185 
 
5.000%, 7/01/34 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
203,896 
215 
 
4.000%, 7/01/35 – AGM Insured (Alternative Minimum Tax) 
7/24 at 100.00 
AA 
224,303 
275 
 
5.000%, 7/01/46 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
302,704 
400 
 
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding 
No Opt. Call 
AA– 
459,768 
 
 
Series 2013B, 5.000%, 11/15/21 
 
 
 
5,220 
 
Total New York 
 
 
5,667,133 
 
 
North Carolina – 1.3% 
 
 
 
1,315 
 
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2015C, 
1/26 at 100.00 
A 
1,565,284 
 
 
5.000%, 1/01/29 
 
 
 
250 
 
North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Capital Appreciation 
7/26 at 96.08 
BBB– 
179,578 
 
 
Series 2017C, 0.000%, 7/01/27 
 
 
 
1,565 
 
Total North Carolina 
 
 
1,744,862 
 
 
North Dakota – 0.7% 
 
 
 
 
 
Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center 
 
 
 
 
 
Project, Series 2014A: 
 
 
 
200 
 
5.000%, 7/01/29 (Pre-refunded 7/01/21) 
7/21 at 100.00 
N/R (5) 
227,112 
650 
 
5.000%, 7/01/31 (Pre-refunded 7/01/21) 
7/21 at 100.00 
N/R (5) 
738,114 
850 
 
Total North Dakota 
 
 
965,226 
 
 
Ohio – 5.2% 
 
 
 
 
 
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue 
 
 
 
 
 
Bonds, Senior Lien, Series 2007A-2: 
 
 
 
100 
 
5.375%, 6/01/24 
11/17 at 100.00 
B– 
97,495 
1,865 
 
5.125%, 6/01/24 
11/17 at 100.00 
B– 
1,772,757 
725 
 
5.875%, 6/01/30 
11/17 at 100.00 
B– 
705,135 
100 
 
5.750%, 6/01/34 
11/17 at 100.00 
B– 
96,806 
480 
 
Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, 
6/23 at 100.00 
Baa2 
506,770 
 
 
Series 2013, 5.000%, 6/15/43 
 
 
 
50 
 
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding 
8/18 at 100.00 
A3 
51,811 
 
 
Series 2008C, 5.500%, 8/15/24 
 
 
 
225 
 
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding 
8/18 at 100.00 
N/R (5) 
233,971 
 
 
Series 2008C, 5.500%, 8/15/24 (Pre-refunded 8/15/18) 
 
 
 
 
 
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, 
 
 
 
 
 
Series 2012C: 
 
 
 
25 
 
4.000%, 10/01/18 
No Opt. Call 
Aa3 
25,651 
30 
 
4.000%, 10/01/19 
No Opt. Call 
Aa3 
31,498 
40 
 
4.000%, 10/01/20 
No Opt. Call 
Aa3 
42,763 
45 
 
5.000%, 10/01/21 
No Opt. Call 
Aa3 
50,531 
35 
 
5.000%, 10/01/22 
No Opt. Call 
Aa3 
40,013 
20 
 
Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, 
No Opt. Call 
Caa1 
9,150 
 
 
FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 
 
 
 
175 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
CCC– 
80,063 
 
 
Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 
 
 
 
 
 
(Mandatory put 3/01/19) 
 
 
 
 
22 NUVEEN

 

         
Principal 
 
Optional Call 
 
 
Amount (000) 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
Ohio (continued) 
 
 
 
$             260 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
B1 
$       258,362 
 
Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/18 
 
 
 
485 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
CCC– 
221,888 
 
Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18) 
 
 
 
90 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
CCC– 
41,175 
 
Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 
 
 
 
 
(Mandatory put 7/02/18) 
 
 
 
130 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
CCC– 
59,475 
 
Nuclear Generation Project, Refunding Series 2006B, 3.625%, 12/01/33 (Mandatory put 6/01/20) 
 
 
 
2,000 
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien 
2/31 at 100.00 
A+ 
1,938,320 
 
Convertible Series 2013A-3, 0.000%, 2/15/34 (4) 
 
 
 
230 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
CCC– 
105,225 
 
Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21) 
 
 
 
90 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
Caa1 
41,175 
 
Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19 
 
 
 
110 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
CCC– 
50,325 
 
Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory put 6/03/19) 
 
 
 
110 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
CCC+ 
50,325 
 
Nuclear Generating Corporation Project, Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20) 
 
 
 
220 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
CCC– 
100,650 
 
Nuclear Generating Corporation Project, Series 2010A, 3.750%, 7/01/33 (Mandatory put 7/01/20) 
 
 
 
125 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
CCC– 
57,188 
 
Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory put 6/03/19) 
 
 
 
100 
Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities 
3/25 at 100.00 
N/R 
104,855 
 
Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 5.375%, 3/01/27 
 
 
 
7,865 
Total Ohio 
 
 
6,773,377 
 
Oklahoma – 0.2% 
 
 
 
250 
Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease 
12/27 at 100.00 
A 
296,435 
 
Revenue Bonds, Elgin Public Schools Project, Series 2017A, 5.000%, 12/01/31 
 
 
 
 
Oregon – 0.6% 
 
 
 
1,250 
Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation 
6/27 at 85.82 
AA+ 
791,913 
 
Bonds, Deferred Interest Series 2017B, 0.000%, 6/15/31 
 
 
 
 
Pennsylvania – 5.8% 
 
 
 
220 
Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
CCC– 
100,650 
 
Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 
 
 
 
 
(Mandatory put 4/02/18) 
 
 
 
455 
Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, 
No Opt. Call 
A 
451,565 
 
Pennsylvania Power and Light Company, Series 2016B, 1.800%, 2/15/27 (Mandatory put 8/15/22) 
 
 
 
200 
Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, 
12/19 at 100.00 
N/R 
208,130 
 
Series 2009, 7.750%, 12/15/27 
 
 
 
500 
Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
BBB 
504,300 
 
Bonds, PECO Energy Company Project, Refunding Series 1996A, 2.600%, 3/01/34 
 
 
 
 
(Mandatory put 9/01/20) 
 
 
 
500 
Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
BBB 
499,395 
 
Bonds, PECO Energy Company Project, Refunding Series 1999A, 2.500%, 10/01/30 
 
 
 
 
(Mandatory put 4/01/20) 
 
 
 
5 
Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, 
No Opt. Call 
CCC+ 
2,288 
 
Shippingport Project, First Energy Guarantor., Series 2006A, 2.550%, 11/01/41 
 
 
 
 
(Mandatory put 12/03/18) 
 
 
 
 
NUVEEN 23

 
     
NIM 
Nuveen Select Maturities Municipal Fund 
 
 
Portfolio of Investments (continued) 
September 30, 2017 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Pennsylvania (continued) 
 
 
 
$       405 
 
Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert 
10/19 at 100.00 
N/R (5) 
$        439,385 
 
 
Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19) 
 
 
 
500 
 
Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol 
1/24 at 100.00 
AA 
587,930 
 
 
Region Parking System, Junior Guaranteed Series 2013B, 5.500%, 1/01/27 
 
 
 
250 
 
Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds, Capitol 
1/24 at 100.00 
AA 
295,555 
 
 
Region Parking System, Junior Insured Series 2013C, 5.500%, 1/01/26 – AGM Insured 
 
 
 
230 
 
Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, 
No Opt. Call 
BBB 
269,820 
 
 
Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 12/31/25 (Alternative 
 
 
 
 
 
Minimum Tax) 
 
 
 
115 
 
Pennsylvania Economic Development Financing Authority, Unemployment Compensation Revenue 
12/17 at 100.00 
Aaa 
116,018 
 
 
Bonds, Series 2012B, 5.000%, 1/01/22 
 
 
 
140 
 
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of the Arts, 
11/17 at 100.00 
AA (5) 
147,070 
 
 
Series 1999, 5.150%, 3/15/20 – AGM Insured (ETM) 
 
 
 
475 
 
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue 
12/20 at 100.00 
AA– 
528,290 
 
 
Bonds, Series 2010A, 5.500%, 12/01/34 
 
 
 
105 
 
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue 
12/20 at 100.00 
N/R (5) 
119,439 
 
 
Bonds, Series 2010A, 5.500%, 12/01/34 (Pre-refunded 12/01/20) 
 
 
 
 
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second 
 
 
 
 
 
Series 2016B-2: 
 
 
 
560 
 
5.000%, 6/01/29 
6/26 at 100.00 
A3 
653,559 
580 
 
5.000%, 6/01/35 
6/26 at 100.00 
A3 
656,148 
540 
 
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – 
No Opt. Call 
A (5) 
589,307 
 
 
NPFG Insured (ETM) 
 
 
 
65 
 
Quakertown, Pennsylvania, General Authority Health Facilities Revenue USDA Loan Anticipation 
7/19 at 100.00 
N/R 
65,031 
 
 
Notes and Revenue Bonds for LifeQuest Obligated Group, Series 2017A, 3.125%, 7/01/21 
 
 
 
60 
 
Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, 
No Opt. Call 
BB+ 
57,061 
 
 
Marywood University, Series 2016, 3.375%, 6/01/26 
 
 
 
880 
 
St. Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health East, 
5/19 at 100.00 
AA– 
941,345 
 
 
Series 2009D, 6.250%, 11/15/34 
 
 
 
330 
 
Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community 
No Opt. Call 
A– 
377,447 
 
 
Hospital Project, Refunding & Improvement Series 2011, 5.750%, 8/01/21 
 
 
 
7,115 
 
Total Pennsylvania 
 
 
7,609,733 
 
 
Rhode Island – 0.2% 
 
 
 
200 
 
Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England 
9/23 at 100.00 
BB (5) 
242,056 
 
 
Health System, Series 2013A, 5.500%, 9/01/28 (Pre-refunded 9/01/23) 
 
 
 
 
 
South Carolina – 3.7% 
 
 
 
1,540 
 
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series 
No Opt. Call 
A3 (5) 
1,651,188 
 
 
1991, 6.750%, 1/01/19 – FGIC Insured (ETM) 
 
 
 
3,040 
 
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series 
No Opt. Call 
A3 
3,245,686 
 
 
1991, 6.750%, 1/01/19 – FGIC Insured 
 
 
 
4,580 
 
Total South Carolina 
 
 
4,896,874 
 
 
Tennessee – 0.3% 
 
 
 
 
 
Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, 
 
 
 
 
 
Covenant Health, Refunding Series 2012A: 
 
 
 
105 
 
4.000%, 1/01/22 
No Opt. Call 
A 
114,645 
180 
 
5.000%, 1/01/23 
No Opt. Call 
A 
207,779 
285 
 
Total Tennessee 
 
 
322,424 
 
 
Texas – 8.7% 
 
 
 
10 
 
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Refunding Series 
5/20 at 100.00 
AA (5) 
11,217 
 
 
2010, 5.875%, 5/01/40 (Pre-refunded 5/01/20) 
 
 
 
 
24 NUVEEN

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Texas (continued) 
 
 
 
 
 
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Refunding Bonds, 
 
 
 
 
 
Series 2009: 
 
 
 
$            65 
 
5.000%, 5/01/29 (Pre-refunded 5/01/19) 
5/19 at 100.00 
AA (5) 
$        69,081 
165 
 
5.000%, 5/01/39 (Pre-refunded 5/01/19) 
5/19 at 100.00 
AA (5) 
175,359 
25 
 
Brazos River Authority, Texas, Collateralized Pollution Control Revenue Bonds, Texas Utilities 
12/17 at 100.00 
N/R 
0 
 
 
Electric Company, Series 2003D, 5.400%, 10/01/29 (Mandatory put 10/02/17) (6) 
 
 
 
525 
 
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.250%, 
1/21 at 100.00 
BBB+ (5) 
608,843 
 
 
1/01/46 (Pre-refunded 1/01/21) 
 
 
 
1,000 
 
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 
7/25 at 100.00 
BBB+ 
1,150,870 
 
 
5.000%, 1/01/31 
 
 
 
155 
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 
No Opt. Call 
A3 
182,951 
 
 
2014C, 5.000%, 11/15/24 
 
 
 
395 
 
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 
11/24 at 100.00 
AA 
469,059 
 
 
2014A, 5.000%, 11/15/26 – AGM Insured 
 
 
 
35 
 
Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. 
7/24 at 100.00 
BB– 
38,508 
 
 
Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (Alternative Minimum Tax) 
 
 
 
140 
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment 
12/17 at 100.00 
A2 
140,475 
 
 
Facilities Department, Refunding Series 2011B, 5.250%, 9/01/25 
 
 
 
500 
 
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment 
No Opt. Call 
A2 
432,595 
 
 
Project, Series 2001B, 0.000%, 9/01/23 – AMBAC Insured 
 
 
 
430 
 
Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 
11/25 at 100.00 
A1 
504,889 
 
 
2015, 5.000%, 11/01/28 (Alternative Minimum Tax) 
 
 
 
300 
 
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, 
11/20 at 100.00 
A3 
326,583 
 
 
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40 
 
 
 
 
 
McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013: 
 
 
 
100 
 
5.000%, 12/01/25 
No Opt. Call 
B1 
108,404 
100 
 
5.250%, 12/01/28 
12/25 at 100.00 
B1 
109,260 
250 
 
Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 
10/18 at 103.00 
BB– 
262,083 
 
 
2016B, 144A, 5.750%, 10/01/31 (Alternative Minimum Tax) 
 
 
 
 
 
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, 
 
 
 
 
 
Children's Medical Center Dallas Project, Series 2012: 
 
 
 
425 
 
5.000%, 8/15/24 
8/22 at 100.00 
Aa2 
490,573 
380 
 
5.000%, 8/15/25 
8/22 at 100.00 
Aa2 
435,708 
 
 
North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital 
 
 
 
 
 
Appreciation Series 2011C: 
 
 
 
100 
 
0.000%, 9/01/43 (4) 
9/31 at 100.00 
AA+ 
107,716 
490 
 
0.000%, 9/01/45 (4) 
9/31 at 100.00 
AA+ 
574,417 
760