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, 2018

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.





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Table of Contents
 
   
Chairman’s Letter to Shareholders 
4 
   
Portfolio Manager’s Comments 
5 
   
Share Information 
8 
   
Risk Considerations 
10 
   
Performance Overview and Holding Summaries 
11 
   
Shareholder Meeting Report 
13 
   
Portfolio of Investments 
14 
   
Statement of Assets and Liabilities 
29 
   
Statement of Operations 
30 
   
Statement of Changes in Net Assets 
31 
   
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 
 
3

Chairman’s Letter to Shareholders
 
Dear Shareholders,
I am honored to serve as the new independent chairman of the Nuveen Fund Board, effective July 1, 2018. I’d like to gratefully acknowledge the stewardship of my predecessor William J. Schneider and, on behalf of my fellow Board members, reinforce our commitment to the legacy of strong, independent oversight of your Funds.
If stock markets are forward looking, then recent volatility suggests views are changing and becoming more divergent. Rising interest rates, moderating earnings growth prospects and a weakening global economic outlook have clouded the horizon, which led to a sharp sell-off in global equities during October. Similar to the remarkably low volatility of 2017, the summer of 2018 was relatively calm again. But more recent market action serves as another reminder that stock price fluctuations are actually the norm, not the exception.
With economic growth in China and Europe already slowing this year, and U.S. growth possibly peaking, investors remain attuned to how trade conflicts, politics and tightening monetary policy might test the global economy’s resilience. However, it’s important to remember the markets are not the economy and vice-versa. Global growth is indeed slowing, but it’s still positive. The U.S. economy remains strong, even in the face of late-cycle pressures. Low unemployment and firming wages should continue to support consumer spending, and the November mid-term elections resulted in no major surprises. In China, the government remains committed to using fiscal stimulus to offset softening exports. Europe also remains vulnerable to trade policy, but European corporate earnings remain healthy, their central bank has reaffirmed its commitment to a gradual stimulus withdrawal and more clarity on Brexit should emerge in the countdown to the March 2019 deadline.
Headlines and political turbulence will continue to obscure underlying fundamentals at times and cause temporary bouts of volatility. We encourage you to work with your financial advisor to evaluate your goals, timeline 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,
Terence J. Toth
Chairman of the Board
November 20, 2018
4

 

Portfolio Manager’s Comments
 
Nuveen Select Maturities Municipal Fund (NIM)
This Fund features portfolio management by Nuveen Asset Management, LLC (NAM), 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, 2018?
The broad municipal bond market notched a small gain over the reporting period. The Federal Reserve’s series of gradual policy rate increases pushed U.S. Treasury yields higher, most notably across shorter maturities, which flattened the Treasury yield curve. Rates also rose across the municipal yield curve, but the move was uneven. The shortest and longest ends of the municipal curve saw more pronounced increases, while the middle of the curve experience a much smaller move. While rising interest rates weighed on municipal bond prices (as bond prices and yields move in opposite directions), strong credit fundamentals remained supportive of municipal bond market. The solid economic expansion, growing state and municipal tax revenues, and low defaults continued to draw yield-seeking investors to the municipal market. Robust demand for municipal bonds, along with shrinking issuance, provided a favorable technical backdrop that helped boost the overall relative value of municipal bonds. During this time, we continued to take a bottom-up approach to identifying individual credits across multiple sectors that appeared undervalued and had the potential to perform well over the long term.
The Fund’s overall positioning remained relatively unchanged during the reporting period, emphasizing intermediate and longer maturities, lower rated credits and sectors offering higher yields. We continued to seek attractive relative value opportunities to enhance the Funds’ long-term performance potential. Trading activity was somewhat lighter than usual in this reporting period, as we believed the Fund was already well positioned for the market environment. New purchases include Connecticut state general obligation bonds, LAX Integrated Express Solutions Automated People Mover Project credits and issues for Intel Corporation facilities in Arizona and Oregon. Additionally, call activity was elevated in the tobacco sector during this reporting period, which affected NIM, as New Jersey and California refunded their tobacco settlement bonds in this reporting period. We reinvested some of the proceeds from the refunded tobacco bonds, which were rated below investment grade, back into the new issues, which were issued with investment grade ratings.

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 Group (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. 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.
5


Portfolio Manager’s Comments (continued)
 
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. We also selectively sold positions with less compelling performance prospects when prevailing market conditions were favorable and reinvested the proceeds in bonds with stronger long-term potential. Overall, the Fund’s sector positioning remained stable, while the AA-rated exposure increased marginally due to bonds that were upgraded or refinanced with higher rated issues.
How did NIM perform during the six-month reporting period ended September 30, 2018?
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, 2018. The Fund’s returns are compared with the performance of a corresponding market index.
For the six months ended September 30, 2018, the total return on net asset value (NAV) for NIM outperformed the return for the S&P Municipal Bond Intermediate Index.
The factors affecting the Fund’s performance during this reporting period included duration and yield curve positioning, credit exposure, sector allocation and credit selection. Yields rose asymmetrically in this reporting period, with yields on shorter-dated bonds (especially 0- to 3-year) and the longest-dated bonds (15 years and longer) increasing considerably, while the intermediate portion of the curve (roughly 4- to 10-years) rose only modestly. The Fund was favorably positioned across maturities to take advantage of the yield curve’s twisting movement, and this combined with the Fund’s shorter duration positively impacted performance. Particularly beneficial was the Fund’s large exposure to 0- to 2-year bonds, which outperformed.
The Fund’s credit ratings allocations contributed to outperformance during the reporting period, driven by overweight allocations to bonds rated single A and below. These bonds continued to exhibit appealing and generally stable yield premiums supported by continued favorable municipal financial performance, supportive economic and monetary policies and investor support, leading to outperformance versus otherwise comparable bonds with higher ratings.
The Fund’s sector allocations were concurrently favorable with many over- and underweight decisions a by-product of our rating allocation. The Fund’s exposures to the tobacco and industrial development revenue (IDR) sectors were notable contributors. The tobacco sector performed well as several large tobacco settlement bond issuers, including New Jersey and California, refinanced their legacy bonds during the reporting period and fueled speculation that other state issuers may follow suit. The IDR sector’s performance was mainly driven by the performance of FirstEnergy Solutions. The energy supplier had performed poorly earlier in 2017 amid credit concerns relating to its parent company’s plan to exit the power generation business (as detailed in “An Update on FirstEnergy Solutions Corp.” at the end of this commentary). Recent progress on negotiations with bondholders helped the bonds appreciate during this reporting period, which was positive for the Fund’s performance.
We also saw outperformance across a number of our individual credit selections. In addition to FirstEnergy, holdings in Illinois (including Chicago-related credits) and Connecticut bonds performed well in this reporting period. We had bought those bonds when their prices were weakened by temporary factors such as a glut of issuance or credit concerns, and performance improved notably as those conditions abated. Florida Brightline Rail Project bonds, issued for a passenger train connecting Miami, Fort Lauderdale and West Palm Beach, contributed to performance as construction was completed and the rail line began operating. Merger and acquisition activity in the hospital sector helped boost holdings in Presence Health (acquired by Ascension) and Centegra Health Systems (acquired by Northwestern Medicine).
6

 

An Update on FirstEnergy Solutions Corp.
FirstEnergy Solutions Corp. and all of its subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code on March 18, 2018. FirstEnergy Solutions and its subsidiaries specialize in coal and nuclear energy production. It is one of the main energy producers in the state of Ohio and a major energy provider in Pennsylvania. Because of the challenging market environment for nuclear and coal power in the face of inexpensive natural gas, FirstEnergy Corp, FirstEnergy Solution’s, parent announced in late 2016 that it would begin a strategic review of its generation assets. FirstEnergy Solutions is a unique corporate issuer in that the majority of its debt was issued in the municipal market to finance pollution control and waste disposal for its coal and nuclear plants. A substantial amount of bondholders, of which Nuveen funds are included, entered into an “Agreement in Principal” with FirstEnergy Corp., to resolve potential claims that bondholders may have against FirstEnergy Corp. The agreement is subject to the approval of the FirstEnergy Corp. board of directors, FirstEnergy Solutions and the bankruptcy court.
In terms of FirstEnergy Solutions holdings, shareholders should note that NIM had 1.27% exposure, which was a mix of unsecured and secured holdings.
7


Share Information
 
DISTRIBUTION INFORMATION
The following information regarding the Fund’s distributions is current as of September 30, 2018. 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.
   
 
Per Share 
Monthly Distributions (Ex-Dividend Date) 
Amounts 
April 2018 
$0.0260 
May 
0.0260 
June 
0.0260 
July 
0.0260 
August 
0.0260 
September 2018 
0.0265 
Total Distributions from Net Investment Income 
$0.1565 
Yields 
 
Market Yield* 
3.32% 
Taxable-Equivalent Yield* 
4.37% 
 
*     
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 24.0%. 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. Distributions to shareholders are determined on a tax basis, which may differ from amounts recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund would report a negative undistributed net ordinary income. Refer to Note 6 – Income Tax Information for additional information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period.
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 is sourced or comprised of elements other than net investment income, including capital gains and/or a return of capital, shareholders will be notified of those sources. For financial reporting purposes, the per share amounts of the Fund’s distributions for the reporting period are presented in this report’s Financial Highlights. For income tax purposes, distribution information for the 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.
8

 

SHARE REPURCHASES
During August 2018, 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, 2018, 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, 2018, 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 
 
$
10.32
 
Share price 
 
$
9.58
 
Premium/(Discount) to NAV 
   
(7.17
)%
6-month average premium/(discount) to NAV 
   
(6.41
)%
 
9


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.
10


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Performance Overview and Holding Summaries as of 
 
September 30, 2018 
 
 
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, 2018
         
 
Cumulative 
Average Annual 
 
6-Month 
1-Year 
5-Year 
10-Year 
NIM at NAV 
1.33% 
1.11% 
3.31% 
4.24% 
NIM at Share Price 
0.47% 
(4.10)% 
2.93% 
4.33% 
S&P Municipal Bond Intermediate Index 
0.80% 
(0.19)% 
3.02% 
4.51% 
 
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.
 
 
11


   
NIM 
Performance Overview and Holding Summaries as of 
 
September 30, 2018 (continued) 
 
 
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. Holdings designated N/R are not rated by these national rating agencies.
   
Fund Allocation 
 
(% of net assets) 
 
Long-Term Municipal Bonds 
99.0% 
Corporate Bonds 
0.0% 
Other Assets Less Liabilities 
1.0% 
Net Assets 
100% 
 
   
Portfolio Credit Quality 
 
(% of total investments) 
 
U.S. Guaranteed 
9.2% 
AAA 
1.6% 
AA 
23.6% 
A 
32.1% 
BBB 
20.3% 
BB or Lower 
7.7% 
N/R (not rated) 
5.5% 
Total 
100% 
 
   
Portfolio Composition 
 
(% of total investments) 
 
Tax Obligation/Limited 
16.9% 
Transportation 
16.3% 
Utilities 
15.8% 
Tax Obligation/General 
13.6% 
Health Care 
12.6% 
U.S. Guaranteed 
8.5% 
Consumer Staples 
5.7% 
Other 
10.6% 
Total 
100% 
 
   
States and Territories 
 
(% of total municipal bonds) 
 
Illinois 
16.0% 
New Jersey 
8.1% 
California 
7.0% 
Pennsylvania 
6.3% 
Texas 
6.2% 
Ohio 
5.5% 
Wisconsin 
4.0% 
New York 
3.8% 
South Carolina 
3.7% 
Florida 
3.7% 
Arizona 
3.5% 
Louisiana 
3.1% 
Nevada 
2.3% 
Washington 
2.2% 
Colorado 
2.1% 
Indiana 
2.0% 
North Carolina 
1.4% 
Other 
19.1% 
Total 
100% 
 
12


Shareholder Meeting Report
 
The annual meeting of shareholders was held in the offices of Nuveen on August 8, 2018 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: 
 
Margo L. Cook 
 
For 
11,495,293 
Withhold 
163,015 
Total 
11,658,308 
Jack B. Evans 
 
For 
11,489,047 
Withhold 
169,261 
Total 
11,658,308 
Albin F. Moschner 
 
For 
11,513,610 
Withhold 
144,698 
Total 
11,658,308 
William J. Schneider 
 
For 
11,475,648 
Withhold 
182,690 
Total 
11,658,338 
 
13


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
LONG-TERM INVESTMENTS – 99.0% 
 
 
 
 
 
MUNICIPAL BONDS – 99.0% 
 
 
 
 
 
Alabama – 1.3% 
 
 
 
$ 210 
 
Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 3 Series 2018A, 
9/23 at 100.31 
N/R 
$ 220,998 
 
 
4.000%, 12/01/48 (Mandatory put 12/01/23) 
 
 
 
300 
 
Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2016, 4.000%, 
3/21 at 100.59 
Aa2 
311,283 
 
 
7/01/46 (Mandatory put 6/01/21) 
 
 
 
500 
 
Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2017A, 4.000%, 
4/22 at 100.52 
Aa2 
523,730 
 
 
8/01/47 (Mandatory put 7/01/22) 
 
 
 
125 
 
Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill 
4/25 at 101.00 
N/R 
128,022 
 
 
College Project, Series 2015, 5.000%, 4/15/27 
 
 
 
480 
 
Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 2, Series 
3/24 at 100.28 
A 
505,070 
 
 
2018A, 4.000%, 6/01/49 (Mandatory put 6/01/24) 
 
 
 
1,615 
 
Total Alabama 
 
 
1,689,103 
 
 
Alaska – 0.2% 
 
 
 
150 
 
Alaska Industrial Development and Export Authority, Loan Anticipation Revenue Notes, YKHC 
12/19 at 100.00 
N/R 
151,413 
 
 
Project, Series 2017, 3.500%, 12/01/20 
 
 
 
155 
 
Alaska State, Sport Fishing Revenue Bonds, Refunding Series 2011, 5.000%, 4/01/21 
4/20 at 100.00 
A1 
161,240 
305 
 
Total Alaska 
 
 
312,653 
 
 
Arizona – 3.5% 
 
 
 
 
 
Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s 
 
 
 
 
 
Hospital, Refunding Series 2012A: 
 
 
 
275 
 
5.000%, 2/01/20 
No Opt. Call 
A+ 
284,446 
290 
 
5.000%, 2/01/27 
2/22 at 100.00 
A+ 
311,579 
100 
 
Arizona Industrial Development Authority, Education Revenue Bonds, Legacy Traditional School 
7/19 at 101.00 
N/R 
98,826 
 
 
Southwest Las Vegas Nevada Campus, Series 2018, 5.250%, 7/01/22, 144A 
 
 
 
 
 
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 
455,676 
685 
 
5.000%, 7/01/26 
7/22 at 100.00 
A1 
732,183 
685 
 
5.000%, 7/01/27 
7/22 at 100.00 
A1 
730,429 
345 
 
Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, 
No Opt. Call 
A+ 
342,954 
 
 
Series 2005, 2.400%, 12/01/35 (Mandatory put 8/14/23) 
 
 
 
60 
 
Chandler Industrial Development Authority, Arizona, Revenue Bonds, Intel Corporation Project, 
No Opt. Call 
A+ 
59,728 
 
 
Series 2007, 2.700%, 12/01/37 (Mandatory put 8/14/23) (Alternative Minimum Tax) 
 
 
 
120 
 
Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Legacy 
7/19 at 101.00 
N/R 
117,178 
 
 
Traditional Schools East Mesa and Cadence, Nevada Campuses, Series 2017A, 4.000%, 
 
 
 
 
 
7/01/22, 144A 
 
 
 
115 
 
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power 
3/23 at 100.00 
A– 
119,525 
 
 
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: 
 
 
 
135 
 
5.250%, 12/01/19 
No Opt. Call 
BBB+ 
139,495 
210 
 
5.000%, 12/01/32 
No Opt. Call 
BBB+ 
243,657 
745 
 
5.000%, 12/01/37 
No Opt. Call 
BBB+ 
864,759 
4,190 
 
Total Arizona 
 
 
4,500,435 
 
 
Arkansas – 0.4% 
 
 
 
540 
 
Independence County, Arkansas, Pollution Control Revenue Bonds, Arkansas Power and Light 
No Opt. Call 
A 
539,930 
 
 
Company Project, Series 2013, 2.375%, 1/01/21 
 
 
 
 
14

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
California – 7.0% 
 
 
 
$ 390 
 
California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Series 
2/27 at 100.00 
AA 
$ 390,815 
 
 
2017, 3.750%, 2/01/32 
 
 
 
275 
 
California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace 
7/26 at 100.00 
BB 
291,643 
 
 
Academy Project, Series 2016A, 5.000%, 7/01/31, 144A 
 
 
 
1,040 
 
California Municipal Finance Authority, Revenue Bonds, LAX Integrated Express Solutions 
6/28 at 100.00 
AA 
995,186 
 
 
Automated People Mover Project, Senior Lien Series 2018A, 3.250%, 12/31/32 – AGM 
 
 
 
 
 
Insured (Alternative Minimum Tax) 
 
 
 
105 
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste 
No Opt. Call 
A– 
104,899 
 
 
Management Inc., Refunding Series 2015B-2, 3.125%, 11/01/40 (Mandatory put 11/03/25) 
 
 
 
 
 
(Alternative Minimum Tax) 
 
 
 
290 
 
California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste 
No Opt. Call 
A– 
295,878 
 
 
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– 
204,477 
 
 
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– 
550,252 
125 
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda 
12/24 at 100.00 
BB 
137,829 
 
 
University Medical Center, Series 2014A, 5.250%, 12/01/29 
 
 
 
710 
 
California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda 
No Opt. Call 
BB– 
792,253 
 
 
University Medical Center, Series 2018A, 5.000%, 12/01/27, 144A 
 
 
 
250 
 
Delano, California, Certificates of Participation, Delano Regional Medical Center, Series 
1/23 at 100.00 
BBB 
261,650 
 
 
2012, 5.000%, 1/01/24 
 
 
 
215 
 
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 
6/22 at 100.00 
BBB 
215,295 
 
 
Bonds, Series 2018A-1, 3.500%, 6/01/36 
 
 
 
100 
 
Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills 
9/24 at 100.00 
N/R 
108,336 
 
 
Improvement Area A & C, Series 2014C, 5.000%, 9/01/32 
 
 
 
285 
 
Lake Elsinore Redevelopment Agency, California, Special Tax Bonds, Community Facilities 
12/18 at 100.00 
AA 
285,553 
 
 
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 
965,680 
 
 
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 
1,626,440 
 
 
AGC Insured 
 
 
 
35 
 
Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 
6/23 at 100.00 
BBB 
38,518 
 
 
2013A, 5.750%, 6/01/44 
 
 
 
2,000 
 
San Diego Community College District, California, General Obligation Bonds, Refunding Series 
No Opt. Call 
AAA 
966,400 
 
 
2011, 0.000%, 8/01/37 
 
 
 
415 
 
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue 
1/25 at 100.00 
A– 
460,455 
 
 
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 
240,106 
 
 
5.000%, 7/01/25 
 
 
 
10,180 
 
Total California 
 
 
8,931,665 
 
 
Colorado – 2.0% 
 
 
 
750 
 
Colorado Bridge Enterprise, Revenue Bonds, Central 70 Project, Senior Series 2017, 4.000%, 
12/27 at 100.00 
A– 
769,222 
 
 
6/30/30 (Alternative Minimum Tax) 
 
 
 
250 
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, 
No Opt. Call 
BBB+ 
267,505 
 
 
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 
202,152 
250 
 
0.000%, 9/01/33 – NPFG Insured 
No Opt. Call 
A 
140,942 
1,000 
 
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 3/01/36 – 
9/20 at 41.72 
A 
393,060 
 
 
NPFG Insured 
 
 
 
500 
 
Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Refunding 
No Opt. Call 
N/R 
523,460 
 
 
Series 2013, 5.000%, 12/01/20, 144A 
 
 
 
 
15


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Colorado (continued) 
 
 
 
$ 210 
 
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private 
7/20 at 100.00 
BBB+ 
$ 218,520 
 
 
Activity Bonds, Series 2010, 6.000%, 1/15/41 
 
 
 
100 
 
Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 
No Opt. Call 
Ba1 
98,301 
 
 
2017A-1, 3.500%, 12/01/27 
 
 
 
3,360 
 
Total Colorado 
 
 
2,613,162 
 
 
Connecticut – 0.4% 
 
 
 
300 
 
Connecticut State, General Obligation Bonds, Refunding Series 2012C, 5.000%, 6/01/22 
No Opt. Call 
A1 
324,669 
110 
 
Connecticut State, General Obligation Bonds, Refunding Series 2016G, 5.000%, 11/01/20 
No Opt. Call 
A1 
115,815 
25 
 
Connecticut State, General Obligation Bonds, Refunding Series 2018C, 5.000%, 6/15/22 
No Opt. Call 
A1 
27,076 
90 
 
Connecticut State, General Obligation Bonds, Series 2013C, 5.000%, 7/15/22 
No Opt. Call 
A1 
97,601 
525 
 
Total Connecticut 
 
 
565,161 
 
 
Delaware – 0.1% 
 
 
 
170 
 
Delaware Health Facilities Authority, Revenue Bonds, Nanticoke Memorial Hospital, Series 2013, 
7/23 at 100.00 
BBB+ 
181,669 
 
 
5.000%, 7/01/28 
 
 
 
 
 
District of Columbia – 0.8% 
 
 
 
120 
 
District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC 
10/22 at 100.00 
BB+ 
121,997 
 
 
Issue, Series 2013, 5.000%, 10/01/30 
 
 
 
850 
 
District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, 
No Opt. Call 
A– 
949,118 
 
 
Series 2001, 6.500%, 5/15/33 
 
 
 
970 
 
Total District of Columbia 
 
 
1,071,115 
 
 
Florida – 3.6% 
 
 
 
285 
 
Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 
No Opt. Call 
AA 
278,761 
 
 
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 
601,520 
390 
 
5.000%, 6/01/25 
12/24 at 100.00 
AA 
442,978 
455 
 
Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, 
No Opt. Call 
AA 
475,766 
 
 
Senior Secured Series 2012A-1, 5.000%, 6/01/20 
 
 
 
 
 
Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, 
 
 
 
 
 
Refunding Series 2013: 
 
 
 
80 
 
4.750%, 11/01/23 
No Opt. Call 
BBB– 
82,758 
370 
 
6.000%, 11/01/33 
11/23 at 100.00 
BBB– 
404,414 
1,115 
 
Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds, 
1/19 at 105.00 
N/R 
1,162,822 
 
 
Brightline Passenger Rail Project – South Segment, Series 2017, 5.625%, 1/01/47, 144A 
 
 
 
 
 
(Alternative Minimum Tax) 
 
 
 
 
 
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) 
10,239 
10 
 
5.625%, 6/01/34 (Pre-refunded 6/01/19) – AGC Insured 
6/19 at 100.00 
AA (5) 
10,247 
330 
 
North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 
No Opt. Call 
A+ 
340,081 
 
 
5.000%, 10/01/20 
 
 
 
90 
 
Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH 
12/24 at 100.00 
BBB+ 
97,060 
 
 
Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/31 
 
 
 
 
 
Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, 
 
 
 
 
 
Refunding & Capital Improvement Series 2012A: 
 
 
 
135 
 
5.000%, 9/01/22 
No Opt. Call 
A+ 
148,036 
350 
 
5.000%, 9/01/23 
9/22 at 100.00 
A+ 
383,796 
185 
 
5.000%, 9/01/25 
9/22 at 100.00 
A+ 
201,994 
4,360 
 
Total Florida 
 
 
4,640,472 
 
 
Georgia – 0.9% 
 
 
 
145 
 
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Series 1995, 5.200%, 
8/22 at 100.00 
N/R (5) 
154,173 
 
 
8/01/25 (Pre-refunded 8/01/22) – NPFG Insured 
 
 
 
 
16

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Georgia (continued) 
 
 
 
$ 900 
 
Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, 
10/22 at 100.00 
Baa2 
$ 975,393 
 
 
Refunding Series 2012C, 5.250%, 10/01/23 
 
 
 
1,045 
 
Total Georgia 
 
 
1,129,566 
 
 
Guam – 0.2% 
 
 
 
140 
 
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, 
7/23 at 100.00 
A– 
150,681 
 
 
Series 2013, 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+ 
167,791 
 
 
(Alternative Minimum Tax) 
 
 
 
290 
 
Total Guam 
 
 
318,472 
 
 
Hawaii – 1.3% 
 
 
 
200 
 
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific 
7/23 at 100.00 
BB 
208,386 
 
 
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– 
983,370 
 
 
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  
7/25 at 100.00 
AA– 
22,543 
 
 
Systems, Series 2015A, 5.000%, 7/01/29 
 
 
 
510 
 
Hawaiian Electric Company Inc. and Its Subsidiaries, Special Purpose Revenue Bonds, 
No Opt. Call 
A– 
511,132 
 
 
Department of Budget and Finance of the State of Hawaii, Series 2015, 3.250%, 1/01/25 
 
 
 
 
 
(Alternative Minimum Tax) 
 
 
 
1,730 
 
Total Hawaii 
 
 
1,725,431 
 
 
Idaho – 0.4% 
 
 
 
475 
 
Nez Perce County, Idaho, Pollution Control Revenue Bonds, Potlatch Corporation Project, 
No Opt. Call 
BBB– 
467,144 
 
 
Refunding Series 2016, 2.750%, 10/01/24 
 
 
 
 
 
Illinois – 15.8% 
 
 
 
 
 
Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016: 
 
 
 
10 
 
2.150%, 3/01/23 – BAM Insured 
No Opt. Call 
AA 
9,560 
10 
 
2.350%, 3/01/24 – BAM Insured 
No Opt. Call 
AA 
9,479 
25 
 
2.700%, 3/01/26 – BAM Insured 
3/25 at 100.00 
AA 
23,392 
25 
 
2.900%, 3/01/28 – BAM Insured 
3/25 at 100.00 
AA 
22,780 
25 
 
3.050%, 3/01/30 – BAM Insured 
3/25 at 100.00 
AA 
23,105 
 
 
Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016: 
 
 
 
15 
 
2.150%, 3/01/23 – BAM Insured 
No Opt. Call 
AA 
14,340 
15 
 
2.350%, 3/01/24 – BAM Insured 
No Opt. Call 
AA 
14,219 
25 
 
2.700%, 3/01/26 – BAM Insured 
3/25 at 100.00 
AA 
23,392 
35 
 
2.900%, 3/01/28 – BAM Insured 
3/25 at 100.00 
AA 
32,132 
40 
 
3.050%, 3/01/30 – BAM Insured 
3/25 at 100.00 
AA 
36,787 
1,215 
 
Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 
4/27 at 100.00 
A 
1,408,999 
 
 
2016, 6.000%, 4/01/46 
 
 
 
750 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
12/27 at 100.00 
B+ 
903,690 
 
 
Series 2017B, 6.750%, 12/01/30, 144A 
 
 
 
290 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
12/27 at 100.00 
B+ 
302,766 
 
 
Series 2017C, 5.000%, 12/01/30 
 
 
 
200 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
12/27 at 100.00 
B+ 
208,192 
 
 
Series 2017D, 5.000%, 12/01/31 
 
 
 
255 
 
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding 
No Opt. Call 
B+ 
256,724 
 
 
Series 2018A, 4.000%, 12/01/21 
 
 
 
300 
 
Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Senior Lien 
1/25 at 100.00 
A 
324,339 
 
 
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+ 
75,349 
 
 
5.000%, 1/01/27 
 
 
 
 
17


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Illinois (continued) 
 
 
 
 
 
Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C: 
 
 
 
$ 200 
 
5.000%, 1/01/23 
No Opt. Call 
BBB+ 
$ 213,034 
225 
 
5.000%, 1/01/24 
No Opt. Call 
BBB+ 
241,596 
190 
 
5.000%, 1/01/25 
No Opt. Call 
BBB+ 
205,194 
55 
 
5.000%, 1/01/26 
No Opt. Call 
BBB+ 
59,615 
325 
 
Cook County, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 11/15/21 
No Opt. Call 
AA– 
352,384 
185 
 
Cook County, Illinois, General Obligation Bonds, Refunding Series 2016A, 5.000%, 11/15/20 
No Opt. Call 
AA– 
196,259 
590 
 
Huntley, Illinois, Special Tax Bonds, Special Service Area 10, Refunding Series 2017, 3.300%, 
3/26 at 100.00 
AA 
564,636 
 
 
3/01/28 – BAM Insured 
 
 
 
625 
 
Illinois Finance Authority, Gas Supply Refunding Revenue Bonds, The Peoples Gas Light and Coke 
No Opt. Call 
Aa3 
619,369 
 
 
Company Project, Series 2010B, 1.875%, 2/01/33 (Mandatory put 8/01/20) 
 
 
 
1,850 
 
Illinois Finance Authority, Revenue Bonds, Ascension Health/Presence Health Network, Series 
No Opt. Call 
AA+ 
1,992,450 
 
 
2016C, 4.000%, 2/15/24 
 
 
 
455 
 
Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/27 
9/22 at 100.00 
BB+ 
494,317 
560 
 
Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A, 
9/24 at 100.00 
BB+ 
577,954 
 
 
4.625%, 9/01/39 
 
 
 
250 
 
Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007, 5.250%, 4/01/22 
11/18 at 100.00 
BB (5) 
250,677 
 
 
(Pre-refunded 11/01/18) 
 
 
 
 
 
Illinois State, General Obligation Bonds, February Series 2014: 
 
 
 
370 
 
5.000%, 2/01/25 
2/24 at 100.00 
BBB 
387,582 
325 
 
5.000%, 2/01/26 
2/24 at 100.00 
BBB 
339,176 
 
 
Illinois State, General Obligation Bonds, Refunding Series 2012: 
 
 
 
390 
 
5.000%, 8/01/20 
No Opt. Call 
BBB 
403,564 
335 
 
5.000%, 8/01/21 
No Opt. Call 
BBB 
348,966 
1,000 
 
5.000%, 8/01/22 
No Opt. Call 
BBB 
1,048,170 
320 
 
5.000%, 8/01/23 
No Opt. Call 
BBB 
336,496 
300 
 
Illinois State, General Obligation Bonds, Series 2012A, 4.000%, 1/01/20 
No Opt. Call 
BBB 
303,930 
 
 
Illinois State, General Obligation Bonds, Series 2013: 
 
 
 
280 
 
5.500%, 7/01/25 
7/23 at 100.00 
BBB 
301,994 
240 
 
5.500%, 7/01/26 
7/23 at 100.00 
BBB 
257,986 
470 
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 
1/26 at 100.00 
AA– 
527,218 
 
 
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– 
496,795 
 
 
5.000%, 1/01/37 
 
 
 
1,380 
 
Kane & DeKalb Counties Community Unit School District 301, Illinois, General Obligation Bonds, 
No Opt. Call 
Aa2 
1,375,170 
 
 
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 
793,490 
 
 
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 
737,803 
1,025 
 
5.250%, 6/01/21 
No Opt. Call 
A 
1,098,544 
220 
 
Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 
No Opt. Call 
A 
248,087 
 
 
2017, 5.000%, 6/01/25 
 
 
 
160 
 
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, 
No Opt. Call 
AA 
165,856 
 
 
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) 
61,694 
95 
 
7.250%, 11/01/36 (Pre-refunded 11/01/23) 
11/23 at 100.00 
N/R (5) 
117,219 
200 
 
7.625%, 11/01/48 (Pre-refunded 11/01/23) 
11/23 at 100.00 
N/R (5) 
250,350 
 
18

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Illinois (continued) 
 
 
 
 
 
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015: 
 
 
 
$ 230 
 
5.000%, 3/01/33 
3/25 at 100.00 
A 
$ 250,764 
145 
 
5.000%, 3/01/34 – AGM Insured 
3/25 at 100.00 
AA 
158,091 
500 
 
Sterling, Whiteside County, Illinois, General Obligation Bonds, Alternate Revenue Source, 
No Opt. Call 
A+ 
528,915 
 
 
Series 2012, 4.000%, 11/01/22 
 
 
 
325 
 
Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, Limited Tax 
10/19 at 103.00 
BBB+ 
339,657 
 
 
General Obligation Lease Certificates, Series 2011, 7.000%, 10/15/22 
 
 
 
19,355 
 
Total Illinois 
 
 
20,334,247 
 
 
Indiana – 2.0% 
 
 
 
90 
 
Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For 
10/19 at 100.00 
B 
90,552 
 
 
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 
154,939 
 
 
5.000%, 10/01/31 
 
 
 
255 
 
Jasper County, Indiana, Pollution Control Revenue Refunding Bonds, Northern Indiana Public 
No Opt. Call 
BBB+ 
259,677 
 
 
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 
254,845 
250 
 
Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding 
8/24 at 100.00 
A 
277,967 
 
 
Series 2014, 5.000%, 2/01/29 
 
 
 
875 
 
Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. 
No Opt. Call 
A1 
871,649 
 
 
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 
A1 
657,348 
 
 
Project, Series 2015, 5.000%, 11/01/45 (Mandatory put 11/01/22) (Alternative Minimum Tax) 
 
 
 
2,460 
 
Total Indiana 
 
 
2,566,977 
 
 
Iowa – 1.1% 
 
 
 
500 
 
Ames, Iowa, Hospital Revenue Bonds, Mary Greeley Medical Center, Series 2011, 5.250%,
6/20 at 100.00 
A2 (5) 
526,195 
 
 
6/15/27 (Pre-refunded 6/15/20) 
 
 
 
 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
 
 
 
 
 
Project, Series 2013: 
 
 
 
215 
 
5.500%, 12/01/22 
12/18 at 100.00 
B 
215,821 
200 
 
5.250%, 12/01/25 
12/23 at 100.00 
B 
213,084 
185 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
6/19 at 105.00 
B 
196,133 
 
 
Project, Series 2016, 5.875%, 12/01/27, 144A 
 
 
 
220 
 
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company 
12/22 at 103.00 
B 
230,639 
 
 
Project, Series 2018A, 5.250%, 12/01/50 (Mandatory put 12/01/33) 
 
 
 
1,320 
 
Total Iowa 
 
 
1,381,872 
 
 
Kansas – 0.1% 
 
 
 
105 
 
Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, 
No Opt. Call 
A+ 
115,386 
 
 
Refunding & Improvement Series 2014A, 5.000%, 9/01/22 
 
 
 
 
 
Kentucky – 1.1% 
 
 
 
550 
 
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, 
6/27 at 100.00 
Baa3 
599,153 
 
 
Refunding Series 2017A, 5.000%, 6/01/31 
 
 
 
285 
 
Kentucky Public Energy Authority, Gas Supply Revenue Bonds, Series 2018B, 4.000%, 1/01/49 
10/24 at 100.24 
A1 
300,949 
 
 
(Mandatory put 1/01/25) 
 
 
 
340 
 
Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease 
6/21 at 100.00 
A1 
363,759 
 
 
Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/29 
 
 
 
100 
 
University of Kentucky, General Receipts Bonds, Refunding Series 2018A, 3.000%, 10/01/33 – 
4/26 at 100.00 
AA 
94,991 
 
 
BAM Insured 
 
 
 
1,275 
 
Total Kentucky 
 
 
1,358,852 
 
19


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Louisiana – 3.1% 
 
 
 
$ 240 
 
De Soto Parrish, Louisiana, Pollution Control Revenue Bonds, Southwestern Electric Power 
No Opt. Call 
A– 
$ 240,163 
 
 
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 
B+ 
457,498 
 
 
Jefferson General Hospital, Refunding Series 2011, 6.375%, 7/01/41 
 
 
 
1,200 
 
Louisiana Local Government Environmental Facilities and Community Development Authority, 
11/27 at 100.00 
BBB 
1,163,544 
 
 
Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017, 
 
 
 
 
 
3.500%, 11/01/32 
 
 
 
150 
 
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, 
5/26 at 100.00 
A3 
167,800 
 
 
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 
112,102 
 
 
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 
571,085 
350 
 
5.000%, 5/15/24 
No Opt. Call 
A3 
392,088 
110 
 
New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015, 5.000%, 12/01/25 
No Opt. Call 
AA– 
125,760 
100 
 
New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, 5.000%, 6/01/32 
6/25 at 100.00 
A 
111,101 
590 
 
Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 
No Opt. Call 
BBB 
618,674 
 
 
2010, 4.000%, 12/01/40 (Mandatory put 6/01/22) 
 
 
 
3,820 
 
Total Louisiana 
 
 
3,959,815 
 
 
Maine – 0.0% 
 
 
 
35 
 
Portland, Maine, General Airport Revenue Bonds, Refunding Series 2013, 5.000%, 7/01/22 
No Opt. Call 
BBB+ 
37,993 
 
 
Maryland – 0.3% 
 
 
 
335 
 
Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017, 
9/27 at 100.00 
BBB– 
373,726 
 
 
5.000%, 9/01/30 
 
 
 
 
 
Massachusetts – 1.0% 
 
 
 
200 
 
Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, 
7/24 at 100.00 
BB+ 
215,378 
 
 
Series 2014A, 5.000%, 7/01/27 
 
 
 
500 
 
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007, 
12/18 at 100.00 
N/R 
500,960 
 
 
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) 
12/18 at 100.00 
N/R 
100,837 
470 
 
5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) 
1/19 at 100.00 
N/R 
478,761 
1,270 
 
Total Massachusetts 
 
 
1,295,936 
 
 
Michigan – 1.1% 
 
 
 
400 
 
Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds, Development 
No Opt. Call 
BB 
316,696 
 
 
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 
172,605 
 
 
7/01/29 – FGIC Insured 
 
 
 
150 
 
Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & 
7/25 at 100.00 
A 
162,941 
 
 
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 
774,746 
 
 
Airport, Refunding Series 2015F, 5.000%, 12/01/33 (Alternative Minimum Tax) 
 
 
 
1,405 
 
Total Michigan 
 
 
1,426,988 
 
 
Missouri – 1.1% 
 
 
 
100 
 
Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson 
11/25 at 100.00 
N/R 
99,929 
 
 
Shoppes Redevelopment Project, Refunding Series 2017A, 4.000%, 11/01/26 
 
 
 
 
20

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Missouri (continued) 
 
 
 
$ 100 
 
Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, 
5/23 at 100.00 
BBB+ 
$ 107,915 
 
 
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 
29,999 
 
 
Saint Louis College of Pharmacy, Series 2015B, 4.000%, 5/01/32 
 
 
 
1,070 
 
Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series 
No Opt. Call 
A2 
1,097,199 
 
 
2005, 5.500%, 7/01/19 – NPFG Insured 
 
 
 
125 
 
St. Louis County, Missouri, GNMA Collateralized Mortgage Revenue Bonds, Series 1989A,
7/20 at 100.00 
AA+ (5) 
132,799 
 
 
8.125%, 8/01/20 (Pre-refunded 7/01/20) (Alternative Minimum Tax) 
 
 
 
1,425 
 
Total Missouri 
 
 
1,467,841 
 
 
Montana – 0.3% 
 
 
 
260 
 
Billings, Montana, Tax Increment Urban Renewal Revenue Bonds, Expanded North 27th Street, 
1/23 at 100.00 
N/R 
270,769 
 
 
Series 2013A, 5.000%, 7/01/33 
 
 
 
55 
 
University of Montana, Revenue Bonds, Series 1996D, 5.375%, 5/15/19 – NPFG Insured (ETM) 
No Opt. Call 
N/R (5) 
56,187 
315 
 
Total Montana 
 
 
326,956 
 
 
Nebraska – 0.1% 
 
 
 
100 
 
Douglas County School District 10 Elkhorn, Nebraska, General Obligation Bonds, Public Schools 
6/22 at 100.00 
AA– 
105,998 
 
 
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 
1,537,517 
250 
 
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A,
6/19 at 100.00 
BBB+ (5) 
260,368 
 
 
8.000%, 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 
53,015 
 
 
Refunding Series 2013, 5.000%, 6/01/22 
 
 
 
200 
 
Washoe County, Nevada, Gas and Water Facilities Revenue Bonds, Sierra Pacific Power  
No Opt. Call 
A+ 
202,704 
 
 
Company, 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 
833,590 
 
 
Refunding Series 2011, 5.000%, 7/01/23 
 
 
 
2,745 
 
Total Nevada 
 
 
2,887,194 
 
 
New Hampshire – 0.1% 
 
 
 
105 
 
Business Finance Authority of the State of New Hampshire, Water Facility Revenue Bonds, 
1/26 at 100.00 
A+ 
105,254 
 
 
Pennichuck Water Works, Inc. Project ,Series 2015A, 4.250%, 1/01/36 (Alternative Minimum Tax) 
 
 
 
 
 
New Jersey – 8.0% 
 
 
 
510 
 
Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, 
2/24 at 100.00 
BBB+ 
548,163 
 
 
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– 
320,622 
 
 
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+ 
151,722 
280 
 
5.000%, 6/15/20 
No Opt. Call 
BBB+ 
291,444 
150 
 
5.000%, 6/15/21 
No Opt. Call 
BBB+ 
159,131 
345 
 
5.000%, 6/15/22 
No Opt. Call 
BBB+ 
371,758 
375 
 
5.000%, 6/15/23 
6/22 at 100.00 
BBB+ 
402,308 
210 
 
5.000%, 6/15/24 
6/22 at 100.00 
BBB+ 
224,683 
510 
 
5.000%, 6/15/25 
6/22 at 100.00 
BBB+ 
543,997 
150 
 
5.000%, 6/15/26 
6/22 at 100.00 
BBB+ 
159,513 
100 
 
4.250%, 6/15/27 
6/22 at 100.00 
BBB+ 
102,754 
300 
 
5.000%, 6/15/28 
6/22 at 100.00 
BBB+ 
317,409 
220 
 
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge 
1/24 at 100.00 
BBB 
239,644 
 
 
Replacement Project, Series 2013, 5.000%, 1/01/28 (Alternative Minimum Tax) 
 
 
 
1,000 
 
New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding 
6/25 at 100.00 
A– 
1,094,510 
 
 
Series 2015XX, 5.000%, 6/15/27 
 
 
 
 
21


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
New Jersey (continued) 
 
 
 
$ 1,095 
 
New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Senior Lien 
12/26 at 100.00 
Aaa 
$ 1,087,083 
 
 
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– 
644,941 
 
 
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– 
1,740,462 
 
 
5.000%, 12/15/23 
 
 
 
270 
 
Salem County Pollution Control Financing Authority, New Jersey, Pollution Control Revenue 
No Opt. Call 
BBB– 
287,393 
 
 
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 
250,148 
 
 
2012Q, 3.000%, 1/01/22 
 
 
 
670 
 
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed  
6/28 at 100.00 
A– 
762,969 
 
 
Bonds, Series 2018A, 5.000%, 6/01/29 
 
 
 
600 
 
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed
No Opt. Call 
BBB+ 
599,082 
 
 
Bonds, Series 2018B, 3.200%, 6/01/27 
 
 
 
10,355 
 
Total New Jersey 
 
 
10,299,736 
 
 
New Mexico – 1.0% 
 
 
 
715 
 
Farmington, New Mexico, Pollution Control Revenue Bonds, Southern California Edison Company – 
No Opt. Call 
Aa3 
708,057 
 
 
Four Corners Project, Refunding Series 2005A, 1.875%, 4/01/29 (Mandatory put 4/01/20) 
 
 
 
505 
 
New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding 
8/19 at 100.00 
Aa2 
515,969 
 
 
Sub-Series 2014A, 5.000%, 11/01/39 (Mandatory put 8/01/19) 
 
 
 
1,220 
 
Total New Mexico 
 
 
1,224,026 
 
 
New York – 3.8% 
 
 
 
220 
 
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue 
1/20 at 100.00 
AA+ (5) 
231,572 
 
 
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+ 
232,562 
195 
 
5.000%, 7/01/24 
No Opt. Call 
BBB+ 
218,720 
200 
 
Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center 
6/27 at 100.00 
BBB– 
223,512 
 
 
Obligated Group, Series 2017, 5.000%, 12/01/28, 144A 
 
 
 
775 
 
Dormitory Authority of the State of New York, State University Educational Facilities Revenue 
5/22 at 100.00 
AA 
847,532 
 
 
Bonds, Third General Resolution, Series 2012A, 5.000%, 5/15/25 
 
 
 
165 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
AA– 
177,731 
 
 
2011A, 5.750%, 2/15/47 
 
 
 
270 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
Aa3 (5) 
293,639 
 
 
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 
218,484 
170 
 
0.000%, 6/01/24 – AGM Insured 
No Opt. Call 
AA 
144,986 
835 
 
New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, 
No Opt. Call 
A– 
835,184 
 
 
New York State Electric and Gas Corporation, Series 2005A, 2.375%, 7/01/26 (Mandatory put 
 
 
 
 
 
5/01/20) (Alternative Minimum Tax) 
 
 
 
85 
 
New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 
No Opt. Call 
A– 
86,478 
 
 
2013A, 5.000%, 5/01/19 
 
 
 
 
 
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– 
64,299 
60 
 
5.000%, 1/01/23 (Alternative Minimum Tax) 
No Opt. Call 
A– 
65,198 
 
 
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 
137,074 
175 
 
4.000%, 7/01/33 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
177,235 
185 
 
5.000%, 7/01/34 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
198,031 
275 
 
5.000%, 7/01/46 (Alternative Minimum Tax) 
7/24 at 100.00 
BBB 
290,133 
 
22

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
New York (continued) 
 
 
 
$ 400 
 
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding 
No Opt. Call 
AA– 
$ 436,612 
 
 
Series 2013B, 5.000%, 11/15/21 
 
 
 
4,655 
 
Total New York 
 
 
4,878,982 
 
 
North Carolina – 1.4% 
 
 
 
125 
 
Chatham County, North Carolina, Limited Obligation Bonds, Series 2018, 3.125%, 11/01/35 
11/28 at 100.00 
AA+ 
118,700 
1,315 
 
North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2015C, 
1/26 at 100.00 
A 
1,494,274 
 
 
5.000%, 1/01/29 
 
 
 
250 
 
North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Capital Appreciation 
7/26 at 96.08 
BBB– 
179,303 
 
 
Series 2017C, 0.000%, 7/01/27 
 
 
 
1,690 
 
Total North Carolina 
 
 
1,792,277 
 
 
North Dakota – 0.9% 
 
 
 
 
 
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) 
215,064 
650 
 
5.000%, 7/01/31 (Pre-refunded 7/01/21) 
7/21 at 100.00 
N/R (5) 
698,958 
170 
 
Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C, 
No Opt. Call 
BBB– 
190,749 
 
 
5.000%, 6/01/28 
 
 
 
1,020 
 
Total North Dakota 
 
 
1,104,771 
 
 
Ohio – 5.4% 
 
 
 
 
 
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed
 
 
 
 
 
Revenue Bonds, Senior Lien, Series 2007A-2: 
 
 
 
95 
 
5.375%, 6/01/24 
11/18 at 100.00 
B– 
94,996 
1,705 
 
5.125%, 6/01/24 
11/18 at 100.00 
B– 
1,690,610 
725 
 
5.875%, 6/01/30 
11/18 at 100.00 
B– 
728,603 
150 
 
5.750%, 6/01/34 
11/18 at 100.00 
B– 
150,000 
480 
 
Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, 
6/23 at 100.00 
Baa2 
496,411 
 
 
Series 2013, 5.000%, 6/15/43 
 
 
 
50 
 
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding 
12/18 at 100.00 
A– 
50,133 
 
 
Series 2008C, 5.500%, 8/15/24 
 
 
 
 
 
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, 
 
 
 
 
 
Series 2012C: 
 
 
 
25 
 
4.000%, 10/01/18 
No Opt. Call 
Aa3 
25,000 
30 
 
4.000%, 10/01/19 
No Opt. Call 
Aa3 
30,608 
40 
 
4.000%, 10/01/20 
No Opt. Call 
Aa3 
41,535 
45 
 
5.000%, 10/01/21 
No Opt. Call 
Aa3 
48,554 
35 
 
5.000%, 10/01/22 
No Opt. Call 
Aa3 
38,463 
45 
 
Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, 
No Opt. Call 
N/R 
30,431 
 
 
FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (6) 
 
 
 
100 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
N/R 
67,625 
 
 
Generation Corporation Project, Refunding Series 2009B, 3.100%, 3/01/23 
 
 
 
 
 
(Mandatory put 3/01/19) (6) 
 
 
 
260 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
N/R 
252,200 
 
 
Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/19 (6) 
 
 
 
425 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
N/R 
287,406 
 
 
Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory put 12/03/18) (6) 
 
 
 
90 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
N/R 
60,863 
 
 
Nuclear Generation Corporation Project, Refunding Series 2010A, 3.125%, 7/01/33 (6) 
 
 
 
130 
 
Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy 
No Opt. Call 
N/R 
87,913 
 
 
Nuclear Generation Project, Refunding Series 2006B, 3.625%, 12/01/33 (Mandatory 
 
 
 
 
 
put 6/01/20) (6) 
 
 
 
45 
 
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, 
No Opt. Call 
N/R 
45,104 
 
 
Series 2017, 3.750%, 1/15/28, 144A (Alternative Minimum Tax) 
 
 
 
2,000 
 
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien 
2/31 at 100.00 
Aa3 
1,936,000 
 
 
Convertible Series 2013A-3, 0.000%, 2/15/34 (4) 
 
 
 
 
23


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Ohio (continued) 
 
 
 
$ 230 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
$ 155,538 
 
 
Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory put 7/01/21) (6) 
 
 
 
120 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
81,150 
 
 
Nuclear Generating Corporation Project, Series 2006A, 3.000%, 5/15/19 (6) 
 
 
 
110 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
74,388 
 
 
Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory put 6/03/19) (6) 
 
 
 
110 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
74,388 
 
 
Nuclear Generating Corporation Project, Series 2008B, 3.625%, 10/01/33 (Mandatory put 4/01/20) (6) 
 
 
 
220 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
148,775 
 
 
Nuclear Generating Corporation Project, Series 2010A, 3.750%, 7/01/33 (Mandatory put 7/01/20) (6) 
 
 
 
235 
 
Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy 
No Opt. Call 
N/R 
158,919 
 
 
Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory put 6/03/19) (6) 
 
 
 
100 
 
Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education
3/25 at 100.00 
N/R 
101,606 
 
 
Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 5.375%, 3/01/27 
 
 
 
7,600 
 
Total Ohio 
 
 
6,957,219 
 
 
Oklahoma – 1.0% 
 
 
 
800 
 
Caddo County Governmental Building Authority, Oklahoma, Sales Tax Revenue Bonds, Refunding 
9/28 at 100.00 
BBB+ 
790,440 
 
 
Series 2018, 3.625%, 9/01/33 
 
 
 
250 
 
Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease 
12/27 at 100.00 
A 
284,210 
 
 
Revenue Bonds, Elgin Public Schools Project, Series 2017A, 5.000%, 12/01/31 
 
 
 
200 
 
Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, 
No Opt. Call 
Baa3 
227,350 
 
 
Series 2018B, 5.000%, 8/15/28 
 
 
 
1,250 
 
Total Oklahoma 
 
 
1,302,000 
 
 
Oregon – 0.9% 
 
 
 
1,250 
 
Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation 
6/27 at 85.82 
AA+ 
784,375 
 
 
Bonds, Deferred Interest Series 2017B, 0.000%, 6/15/31 
 
 
 
325 
 
Oregon State Business Development Commission, Recovery Zone Facility Revenue Bonds, Intel 
No Opt. Call 
A+ 
323,661 
 
 
Corporation Project, 232 Series 2010, 2.400%, 12/01/40 (Mandatory put 8/14/23) 
 
 
 
1,575 
 
Total Oregon 
 
 
1,108,036 
 
 
Pennsylvania – 6.2% 
 
 
 
100 
 
Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue 
No Opt. Call 
Ba1 
109,222 
 
 
Bonds, City Center Project, Series 2018, 5.000%, 5/01/28, 144A 
 
 
 
220 
 
Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
N/R 
148,775 
 
 
Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (6) 
 
 
 
200 
 
Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, 
No Opt. Call 
A1 
192,778 
 
 
Pennsylvania Power and Light Company, Series 2016A, 1.800%, 9/01/29 (Mandatory put 9/01/22) 
 
 
 
455 
 
Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, 
No Opt. Call 
A1 
438,743 
 
 
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
12/19 at 100.00 
N/R (5) 
213,442 
 
 
Bonds, Series 2009, 7.750%, 12/15/27 (Pre-refunded 12/15/19) 
 
 
 
500 
 
Montgomery County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
BBB 
498,880 
 
 
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 
499,125 
 
 
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, 
12/18 at 100.00 
N/R 
3,381 
 
 
Shippingport Project, First Energy Guarantor, Series 2006A, 2.550%, 11/01/41 
 
 
 
 
 
(Mandatory put 12/03/18) (6) 
 
 
 
 
24

 

           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Pennsylvania (continued) 
 
 
 
$ 355 
 
Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert 
10/19 at 100.00 
N/R (5) 
$ 368,259 
 
 
Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 (Pre-refunded 10/15/19) 
 
 
 
500 
 
Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds,
1/24 at 100.00 
AA 
559,475 
 
 
Capitol Region Parking System, Junior Guaranteed Series 2013B, 5.500%, 1/01/27 
 
 
 
250 
 
Pennsylvania Economic Development Financing Authority, Parking System Revenue Bonds,
1/24 at 100.00 
AA 
280,768 
 
 
Capitol 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 
257,842 
 
 
Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 12/31/25 (Alternative 
 
 
 
 
 
Minimum Tax) 
 
 
 
95 
 
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of the Arts, 
No Opt. Call 
N/R (5) 
97,501 
 
 
Series 1999, 5.150%, 3/15/20 – RAAI Insured (ETM) 
 
 
 
250 
 
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series
4/27 at 100.00 
AA+ 
241,863 
 
 
2017-125A, 3.400%, 10/01/32 (Alternative Minimum Tax) 
 
 
 
 
 
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue
 
 
 
 
 
Bonds, Subordinate Series 2010A1&2: 
 
 
 
115 
 
5.500%, 12/01/34 (Pre-refunded 12/01/20) 
12/20 at 100.00 
N/R (5) 
123,378 
475 
 
5.500%, 12/01/34 (Pre-refunded 12/01/20) 
12/20 at 100.00 
AA- (5) 
509,604 
 
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second 
 
 
 
 
 
Series 2016B-2: 
 
 
 
310 
 
5.000%, 6/01/29 
6/26 at 100.00 
A3 
346,527 
855 
 
5.000%, 6/01/35 
6/26 at 100.00 
A3 
935,703 
250 
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 
12/27 at 100.00 
A3 
278,755 
 
 
2017, 5.000%, 12/01/32 
 
 
 
370 
 
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – 
No Opt. Call 
N/R (5) 
388,907 
 
 
NPFG Insured (ETM) 
 
 
 
65 
 
Quakertown General Authority Health Facilities Revenue USDA Loan Anticipation Notes and 
7/19 at 100.00 
N/R 
63,963 
 
 
Revenue Bonds for LifeQuest Obligated Group, Pennsylvania, Series 2017A, 3.125%, 7/01/21 
 
 
 
880 
 
Saint Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health 
5/19 at 100.00 
AA– 
902,053 
 
 
East, Series 2009D, 6.250%, 11/15/34 
 
 
 
105 
 
Scranton, Lackawanna County, Pennsylvania, General Obligation Notes, Series 2016, 
5/24 at 100.00 
BB+ 
111,974 
 
 
5.000%, 11/15/26 
 
 
 
60 
 
Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, 
No Opt. Call 
BB+ 
56,707 
 
 
Marywood University, Series 2016, 3.375%, 6/01/26 
 
 
 
330 
 
Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community 
No Opt. Call 
A- (5) 
363,208 
 
 
Hospital Project, Refunding & Improvement Series 2011, 5.750%, 8/01/21 (ETM) 
 
 
 
7,675 
 
Total Pennsylvania 
 
 
7,990,833 
 
 
Rhode Island – 0.2% 
 
 
 
200 
 
Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England 
9/23 at 100.00 
BB- (5) 
229,372 
 
 
Health System, Series 2013A, 5.500%, 9/01/28 (Pre-refunded 9/01/23) 
 
 
 
 
 
South Carolina – 3.7% 
 
 
 
15 
 
Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, 
No Opt. Call 
A1 
15,449 
 
 
Refunding Series 2011, 5.000%, 11/01/19 
 
 
 
195 
 
Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 
11/23 at 100.30 
Aa2 
205,912 
 
 
2018A, 4.000%, 10/01/48 (Mandatory put 2/01/24) 
 
 
 
1,540 
 
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series 
No Opt. Call 
A3 (5) 
1,558,418 
 
 
1991, 6.750%, 1/01/19 – FGIC Insured (ETM) 
 
 
 
2,890 
 
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Refunding Series 
No Opt. Call 
A3 
2,923,900 
 
 
1991, 6.750%, 1/01/19 – FGIC Insured 
 
 
 
4,640 
 
Total South Carolina 
 
 
4,703,679 
 
25


   
NIM 
Nuveen Select Maturities Municipal Fund 
 
Portfolio of Investments (continued) 
 
September 30, 2018 (Unaudited) 
 
           
Principal 
 
 
Optional Call 
 
 
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
 
Tennessee – 1.2% 
 
 
 
 
 
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 
$ 110,148 
180 
 
5.000%, 1/01/23 
No Opt. Call 
A 
197,791 
100 
 
Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, 
No Opt. Call 
N/R 
97,545 
 
 
Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 4.625%, 
 
 
 
 
 
6/15/27, 144A 
 
 
 
100 
 
The Tennessee Energy Acquisition Corporation, Gas Project Revenue Bonds, Series 2018,
8/25 at 100.22 
A 
105,160 
 
 
4.000%, 11/01/49 (Mandatory put 11/01/25) 
 
 
 
920 
 
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C, 4.000%,
2/23 at 108.92 
A 
963,902 
 
 
5/01/48  (Mandatory put 5/01/23) 
 
 
 
1,405 
 
Total Tennessee 
 
 
1,474,546 
 
 
Texas – 6.2% 
 
 
 
10 
 
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Refunding Series 
5/20 at 100.00 
AA (5) 
10,601 
 
 
2010, 5.875%, 5/01/40 (Pre-refunded 5/01/20) 
 
 
 
 
 
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) 
66,157 
165 
 
5.000%, 5/01/39 (Pre-refunded 5/01/19) 
5/19 at 100.00 
AA (5) 
167,937