Nuveen Quality Municipal Income Fund

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09297

Nuveen Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

Registrant’s telephone number, including area code:    312-917-7700    

Date of fiscal year end:      October 31      

Date of reporting period:  July 31, 2018

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q 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 the 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. § 3507.

 

 

 

 

 


Item 1. Schedule of Investments

 

 


NAD
Nuveen Quality Municipal Income Fund
Portfolio of Investments    July 31, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 160.0% (99.5% of Total Investments)        
    MUNICIPAL BONDS – 160.0% (99.5% of Total Investments)        
    Alabama – 1.3% (0.8% of Total Investments)        
    Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A:        
$ 5,000   5.000%, 10/01/33  –  AGM Insured (Alternative Minimum Tax)   10/27 at 100.00 A- $5,612,600
5,455   5.000%, 10/01/34  –  AGM Insured (Alternative Minimum Tax)   10/27 at 100.00 A- 6,105,127
5,550   5.000%, 10/01/35  –  AGM Insured (Alternative Minimum Tax)   10/27 at 100.00 A- 6,197,574
17,500   Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46   No Opt. Call A3 21,037,100
33,505   Total Alabama       38,952,401
    Alaska – 0.8% (0.5% of Total Investments)        
    Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015:        
1,580   5.000%, 1/01/24 (Alternative Minimum Tax)   No Opt. Call Baa2 1,761,021
3,400   5.000%, 1/01/25 (Alternative Minimum Tax)   No Opt. Call Baa2 3,798,208
1,000   5.000%, 1/01/28 (Alternative Minimum Tax)   7/25 at 100.00 Baa2 1,099,760
1,075   5.000%, 1/01/29 (Alternative Minimum Tax)   7/25 at 100.00 Baa2 1,175,996
300   5.000%, 1/01/31 (Alternative Minimum Tax)   7/25 at 100.00 Baa2 325,494
    Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:        
260   4.625%, 6/01/23   9/18 at 100.00 Ba2 260,325
14,500   5.000%, 6/01/32   9/18 at 100.00 B3 14,584,245
22,115   Total Alaska       23,005,049
    Arizona – 3.2% (2.0% of Total Investments)        
980   Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds, Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30   3/22 at 100.00 A- 1,046,023
2,500   Arizona Health Facilities Authority, Revenue Bonds, Scottsdale Lincoln Hospitals Project, Refunding Series 2014A, 5.000%, 12/01/39   12/24 at 100.00 A2 2,760,450
2,000   Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Academies of Math & Science Projects, Series 2018A, 5.000%, 7/01/48   1/28 at 100.00 AA- 2,218,460
    Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A:        
1,490   5.000%, 7/01/30   7/22 at 100.00 A 1,588,459
2,500   5.000%, 7/01/32   7/22 at 100.00 A 2,655,725
2,335   5.000%, 7/01/36   7/22 at 100.00 A 2,464,616
11,795   Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Refunding Series 2016A, 4.000%, 1/01/36   1/27 at 100.00 AA- 12,265,031
1


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Arizona (continued)        
$ 11,740   Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2010A, 5.000%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 A+ (4) $12,473,163
    Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Senior Lien Series 2017A:        
8,090   5.000%, 7/01/42 (Alternative Minimum Tax)   7/27 at 100.00 AA- 9,051,577
5,225   5.000%, 7/01/47 (Alternative Minimum Tax)   7/27 at 100.00 AA- 5,824,778
7,000   Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B, 5.500%, 7/01/39  –  FGIC Insured   No Opt. Call AA 9,262,330
1,000   Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power Company, Series 2010A, 5.250%, 10/01/40   10/20 at 100.00 A- 1,063,640
1,000   Pinal County Electrical District 4, Arizona, Electric System Revenue Bonds, Refunding Series 2015, 4.000%, 12/01/38  –  AGM Insured   12/25 at 100.00 AA 1,023,590
500   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.500%, 12/01/29   No Opt. Call BBB+ 599,590
24,765   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc. Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37   No Opt. Call BBB+ 29,447,566
1,100   Student and Academic Services LLC, Arizona, Lease Revenue Bonds, Northern Arizona University Project, Series 2014, 5.000%, 6/01/34  –  BAM Insured   6/24 at 100.00 A2 1,219,944
774   Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds, Series 2005, 6.000%, 7/01/30   10/18 at 100.00 N/R 746,105
84,794   Total Arizona       95,711,047
    Arkansas – 0.1% (0.0% of Total Investments)        
2,055   Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Series 2013, 4.875%, 12/01/43   12/23 at 100.00 A1 2,230,764
    California – 17.0% (10.5% of Total Investments)        
1,500   ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue Bonds, Channing House, Series 2010, 6.000%, 5/15/30 (Pre-refunded 5/15/20)   5/20 at 100.00 AA- (4) 1,621,260
    Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A:        
185   0.000%, 10/01/20  –  AMBAC Insured   No Opt. Call Baa2 174,420
9,015   0.000%, 10/01/20  –  AMBAC Insured (ETM)   No Opt. Call Aaa (4) 8,696,320
1,535   Alameda Corridor Transportation Authority, California, Revenue Bonds, Senior Lien Series 1999A, 0.000%, 10/01/37  –  NPFG Insured   No Opt. Call A- 717,244
13,000   Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Refunding Series 2007A-1, 4.375%, 3/01/37  –  FGIC Insured   9/18 at 100.00 BBB+ 13,019,370
    Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C:        
2,945   0.000%, 9/01/27   No Opt. Call A2 2,180,007
7,150   0.000%, 9/01/28  –  AGM Insured   No Opt. Call A2 5,069,707
2,455   0.000%, 9/01/32  –  AGM Insured   No Opt. Call A2 1,442,975
200   0.000%, 9/01/35  –  AGM Insured   No Opt. Call A2 101,680
2


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
    Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4:        
$ 10,000   5.000%, 4/01/38 (Pre-refunded 4/01/23)   4/23 at 100.00 AA- (4) $11,473,400
3,500   5.250%, 4/01/53 (Pre-refunded 4/01/23)   4/23 at 100.00 A1 (4) 4,054,750
1,055   Brisbane School District, San Mateo County, California, General Obligation Bonds, Election 2003 Series 2005, 0.000%, 7/01/35  –  AGM Insured   No Opt. Call A2 559,066
    Byron Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2007B:        
60   0.000%, 8/01/32  –  SYNCORA GTY Insured (ETM)   No Opt. Call A2 (4) 39,604
1,640   0.000%, 8/01/32  –  SYNCORA GTY Insured   No Opt. Call A+ 983,049
    Calexico Unified School District, Imperial County, California, General Obligation Bonds, Series 2005B:        
3,685   0.000%, 8/01/31  –  FGIC Insured   No Opt. Call A3 2,294,060
4,505   0.000%, 8/01/33  –  FGIC Insured   No Opt. Call A3 2,554,110
2,820   California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 5.000%, 6/01/26   10/18 at 100.00 BBB+ 2,840,445
    California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B:        
7,000   5.000%, 11/15/46   11/26 at 100.00 AA- 7,948,570
25,520   5.000%, 11/15/46 (UB) (5)   11/26 at 100.00 A+ 28,978,215
2,275   California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2018A, 4.000%, 11/15/42   11/27 at 100.00 AA- 2,353,465
5,950   California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2009B, 5.500%, 10/01/39   10/19 at 100.00 AA- 6,215,667
710   California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37   7/23 at 100.00 AA- 786,730
    California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049:        
790   8.452%, 8/15/51 (IF),144A (5)   8/22 at 100.00 AA- 940,606
825   8.458%, 8/15/51 (IF),144A (5)   8/22 at 100.00 AA- 982,418
2,140   8.458%, 8/15/51 (IF),144A (5)   8/22 at 100.00 AA- 2,548,333
5,600   California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, 5.000%, 12/31/43 (Alternative Minimum Tax)   6/28 at 100.00 BBB+ 6,283,256
3,250   California Municipal Finance Authority, Reveue Bonds, Community Medical Centers, Series 2017A, 5.000%, 2/01/42   2/27 at 100.00 Baa1 3,605,648
810   California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2009-I, 6.375%, 11/01/34 (Pre-refunded 11/01/19)   11/19 at 100.00 A+ (4) 860,463
    California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2010A-1:        
1,530   5.750%, 3/01/30 (Pre-refunded 3/01/20)   3/20 at 100.00 A+ (4) 1,634,162
1,000   6.000%, 3/01/35 (Pre-refunded 3/01/20)   3/20 at 100.00 A+ (4) 1,071,970
815   California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2013I, 5.000%, 11/01/38   11/23 at 100.00 A+ 915,009
3


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 55   California State, General Obligation Bonds, Refunding Series 2007, 4.500%, 8/01/30   10/18 at 100.00 AA- $55,122
65   California State, General Obligation Bonds, Series 1997, 5.000%, 10/01/18  –  AMBAC Insured   9/18 at 100.00 AA- 65,200
    California State, General Obligation Bonds, Various Purpose Series 2010:        
2,100   5.250%, 3/01/30   3/20 at 100.00 AA- 2,224,215
3,000   5.500%, 3/01/40   3/20 at 100.00 AA- 3,175,050
4,250   5.250%, 11/01/40   11/20 at 100.00 AA- 4,577,250
500   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.250%, 12/01/44   12/24 at 100.00 BB- 536,645
    California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A:        
6,000   5.000%, 12/01/46 ,144A   6/26 at 100.00 BB 6,354,120
3,070   5.250%, 12/01/56 ,144A   6/26 at 100.00 BB- 3,297,886
    California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010:        
900   6.000%, 10/01/29   10/19 at 100.00 BBB+ 940,221
1,030   6.250%, 10/01/39   10/19 at 100.00 BBB+ 1,074,846
2,250   California Statewide Communities Development Authority, Revenue Bonds, Cottage Health System Obligated Group, Series 2010, 5.250%, 11/01/30   11/20 at 100.00 A+ 2,407,770
1,050   California Statewide Communities Development Authority, School Facility Revenue Bonds, Aspire Public Schools, Series 2010, 6.000%, 7/01/40 (Pre-refunded 1/01/19)   1/19 at 100.00 N/R (4) 1,070,864
    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:        
2,640   5.750%, 7/01/30   10/18 at 100.00 CCC 2,598,288
7,230   5.500%, 7/01/39   10/18 at 100.00 CCC 7,096,751
6,025   California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38 (Pre-refunded 8/01/19)   8/19 at 100.00 N/R (4) 6,346,795
4,890   Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2006B, 0.000%, 8/01/26  –  NPFG Insured   No Opt. Call Baa2 3,961,633
1,000   Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Series 2005A, 0.000%, 8/01/30  –  FGIC Insured   No Opt. Call A- 658,720
5,045   Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Capital Appreciation Series 2011A, 0.000%, 11/01/27 (Pre-refunded 11/01/21)   11/21 at 61.42 AA- (4) 2,929,329
1,260   Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36   12/21 at 100.00 A+ 1,462,406
4,000   East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water System Revenue Bonds, Series 2014C, 5.000%, 6/01/44   6/24 at 100.00 Aa1 4,532,320
3,010   El Camino Community College District, California, General Obligation Bonds, Election of 2002 Series 2012C, 0.000%, 8/01/25   8/22 at 100.00 AA+ 2,545,467
3,500   Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A, 0.000%, 1/15/34  –  AGM Insured   No Opt. Call BBB- 1,909,460
4


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A:        
$ 1,480   5.750%, 1/15/46   1/24 at 100.00 BBB- $1,677,728
6,480   6.000%, 1/15/49   1/24 at 100.00 BBB- 7,503,970
1,500   Gavilan Joint Community College District, Santa Clara and San Benito Counties, California, General Obligation Bonds, Election of 2004 Series 2011D, 5.750%, 8/01/35 (Pre-refunded 8/01/21)   8/21 at 100.00 AA- (4) 1,683,810
9,930   Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Series 2015A, 5.000%, 6/01/45   6/25 at 100.00 A+ 11,070,063
    Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A:        
1,455   0.000%, 6/01/24  –  AMBAC Insured   No Opt. Call A+ 1,262,416
3,500   0.000%, 6/01/26  –  AGM Insured   No Opt. Call A1 2,837,030
8,110   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.125%, 6/01/47 (Pre-refunded 8/30/18)   8/18 at 100.00 B3 (4) 8,140,494
    Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1:        
4,250   5.000%, 6/01/47   6/22 at 100.00 N/R 4,367,385
4,945   5.250%, 6/01/47   6/22 at 100.00 N/R 5,146,212
2,500   Huntington Beach Union High School District, Orange County, California, General Obligation Bonds, Series 2007, 0.000%, 8/01/32  –  FGIC Insured   No Opt. Call AA- 1,546,700
9,740   Huntington Park Redevelopment Agency, California, Single Family Residential Mortgage Revenue Refunding Bonds, Series 1986A, 8.000%, 12/01/19 (ETM)   No Opt. Call AA+ (4) 10,576,082
5,000   Kern Community College District, California, General Obligation Bonds, Safety, Repair & Improvement, Election 2002 Series 2006, 0.000%, 11/01/24  –  AGM Insured   No Opt. Call AA 4,294,400
1,045   Lake Tahoe Unified School District, El Dorado County, California, General Obligation Bonds, Series 2001B, 0.000%, 8/01/31  –  NPFG Insured   No Opt. Call A- 666,532
90   Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016A, 5.000%, 5/15/42 (Alternative Minimum Tax)   5/26 at 100.00 A1 100,295
    Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B:        
2,000   5.000%, 5/15/41 (Alternative Minimum Tax)   5/26 at 100.00 A1 2,230,220
20,015   5.000%, 5/15/46 (Alternative Minimum Tax)   5/26 at 100.00 A1 22,246,472
4,615   Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018A, 5.000%, 5/15/44 (Alternative Minimum Tax)   5/28 at 100.00 A1 5,241,532
2,665   Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2014B, 5.000%, 7/01/43   1/24 at 100.00 AA 2,987,438
15,000   Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2011A, 5.000%, 7/01/41   1/21 at 100.00 Aa2 16,077,150
2,000   Los Rios Community College District, Sacramento County, California, General Obligation Bonds, Series 2009D, 5.375%, 8/01/34 (Pre-refunded 8/01/19)   8/19 at 100.00 AA (4) 2,079,680
5


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 250   Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A, Subordinate Lien Series 2011A, 7.000%, 9/01/31   9/21 at 100.00 A- $287,240
500   Madera County, California, Certificates of Participation, Children's Hospital Central California, Series 2010, 5.375%, 3/15/36 (Pre-refunded 3/15/20)   3/20 at 100.00 A1 (4) 531,455
6,215   Martinez Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2011, 5.875%, 8/01/31   8/24 at 100.00 AA 7,480,063
5,955   Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (6)   8/35 at 100.00 AA 4,884,529
2,700   M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A, 7.000%, 11/01/34   No Opt. Call A 3,829,896
2,200   M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.500%, 11/01/39   No Opt. Call BBB+ 3,112,934
405   Natomas Union School District, Sacramento County, California, General Obligation Refunding Bonds, Series 1999, 5.950%, 9/01/21  –  NPFG Insured   No Opt. Call Baa2 428,859
14,065   Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Refunding Series 1995, 7.400%, 8/01/25  –  NPFG Insured   No Opt. Call Baa2 15,821,578
3,615   Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39 (Pre-refunded 11/01/19)   11/19 at 100.00 N/R (4) 3,854,602
1,160   Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21 (Pre-refunded 11/01/20)   11/20 at 100.00 Ba1 (4) 1,216,295
1,365   Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/21  –  NPFG Insured   No Opt. Call BB+ 1,279,496
13,145   Perris, California, GNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Bonds, Series 1988B, 8.200%, 9/01/23 (ETM)   No Opt. Call AA+ (4) 17,011,602
2,500   Petaluma, Sonoma County, California, Wastewater Revenue Bonds, Refunding Series 2011, 5.500%, 5/01/32 (Pre-refunded 5/01/21)   5/21 at 100.00 A1 (4) 2,763,100
6,000   Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34  –  FGIC Insured (ETM)   No Opt. Call A2 (4) 3,719,640
8,545   Pomona, California, GNMA/FNMA Collateralized Securities Program Single Family Mortgage Revenue Bonds, Series 1990A, 7.600%, 5/01/23 (ETM)   No Opt. Call AA+ (4) 9,713,101
2,000   Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Series 2011A, 0.000%, 8/01/41   No Opt. Call AA- 808,040
5,000   Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2011A, 0.000%, 8/01/41  –  AGM Insured (6)   8/36 at 100.00 A1 4,740,800
5,000   Riverside County Asset Leasing Corporation, California, Leasehold Revenue Bonds, Riverside County Hospital Project, Series 1997, 0.000%, 6/01/25  –  NPFG Insured   No Opt. Call A1 4,104,550
4,615   Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B, 0.000%, 10/01/38   No Opt. Call A 2,019,893
330   Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/48   6/23 at 100.00 BBB- 364,261
14,900   San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B, 5.000%, 5/01/46 (Alternative Minimum Tax)   5/26 at 100.00 A+ 16,564,628
6


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
    San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A:        
$ 3,900   5.000%, 5/01/42 (Alternative Minimum Tax)   5/27 at 100.00 A+ $4,387,383
20,000   5.000%, 5/01/47 (Alternative Minimum Tax)   5/27 at 100.00 A+ 22,418,800
660   San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2009C, 6.500%, 8/01/39 (Pre-refunded 8/01/19)   8/19 at 100.00 A- (4) 693,964
2,000   San Francisco, California, Community Facilities District 6, Mission Bay South Public Improvements, Special Tax Refunding Bonds, Series 2013C, 0.000%, 8/01/43   8/22 at 29.31 N/R 509,300
2,000   San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B, 5.250%, 1/15/44   1/25 at 100.00 BBB- 2,190,880
    San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:        
15,350   5.000%, 1/15/44   1/25 at 100.00 BBB 16,734,109
25,840   5.000%, 1/15/50   1/25 at 100.00 BBB 28,076,452
    San Jose, California, Airport Revenue Bonds, Refunding Series 2017A:        
5,000   5.000%, 3/01/41 (Alternative Minimum Tax)   3/27 at 100.00 A- 5,622,600
5,000   5.000%, 3/01/47 (Alternative Minimum Tax)   3/27 at 100.00 A- 5,594,850
6,660   San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/43   No Opt. Call A1 1,993,871
880   Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 7.000%, 8/01/31 (Pre-refunded 2/01/21)   2/21 at 100.00 A (4) 997,269
2,460   Santee School District, San Diego County, California, General Obligation Bonds, Capital Appreciation, Election 2006, Series 2008D, 0.000%, 8/01/33  –  AGC Insured   No Opt. Call AA 1,438,485
5,000   Solano Community College District, Solano and Yolo Counties, California, General Obligation Bonds, Election 2012 Series 2013A, 5.000%, 8/01/43   8/23 at 100.00 Aa3 5,551,500
1,145   Southern Kern Unified School District, Kern County, California, General Obligation Bonds, Series 2006C, 0.000%, 11/01/30  –  AGM Insured   No Opt. Call A2 760,417
1,175   Southern Kern Unified School District, Kern County, California, General Obligation Bonds, Series 2010B, 0.000%, 11/01/35  –  AGM Insured   No Opt. Call A1 615,947
    Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011:        
1,000   6.375%, 12/01/23 (Pre-refunded 12/01/21)   12/21 at 100.00 A+ (4) 1,153,540
1,000   6.500%, 12/01/24 (Pre-refunded 12/01/21)   12/21 at 100.00 A+ (4) 1,157,570
1,000   6.625%, 12/01/25 (Pre-refunded 12/01/21)   12/21 at 100.00 A+ (4) 1,161,610
1,325   6.750%, 12/01/26 (Pre-refunded 12/01/21)   12/21 at 100.00 A+ (4) 1,544,486
2,410   Victor Elementary School District, San Bernardino County, California, General Obligation Bonds, Series 2002A, 0.000%, 8/01/26  –  FGIC Insured   No Opt. Call A+ 1,917,372
2,000   West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Election 2010 Series 2011A, 5.000%, 8/01/41 (Pre-refunded 8/01/21)   8/21 at 100.00 A+ (4) 2,201,320
3,750   Wiseburn School District, Los Angeles County, California, General Obligation Bonds, Series 2011B, 0.000%, 8/01/36  –  AGM Insured (6)   8/31 at 100.00 Aa3 3,260,738
7


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 4,000   Yuba Community College District, California, General Obligation Bonds, Election 2006 Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21)   8/21 at 100.00 Aa2 (4) $ 4,431,800
506,675   Total California       513,452,771
    Colorado – 8.5% (5.3% of Total Investments)        
3,000   Anthem West Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2015, 5.000%, 12/01/35  –  BAM Insured   12/25 at 100.00 A3 3,348,150
4,195   Boulder Larimer & Weld Counties School District RE-1J Saint Vrain Valley, Colorado, General Obligation Bonds, Series 2016C, 4.000%, 12/15/34   12/26 at 100.00 AA 4,439,568
1,775   Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 5.000%, 12/01/29   12/22 at 103.00 N/R 1,902,978
2,945   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy, Inc. Second Campus Project, Series 2013, 7.350%, 8/01/43   8/23 at 100.00 BB+ 3,369,227
1,715   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Flagstaff Academy Project, Refunding Series 2016, 3.625%, 8/01/46   8/26 at 100.00 A+ 1,637,894
500   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Liberty Common Charter School, Series 2014A, 5.000%, 1/15/44   1/24 at 100.00 A+ 532,330
1,000   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Peak-to-Peak Charter School, Refunding Series 2014, 5.000%, 8/15/30   8/24 at 100.00 A+ 1,094,630
3,915   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Weld County School District 6 - Frontier Academy, Refunding & Improvement Series 2016, 3.250%, 6/01/46   6/26 at 100.00 A+ 3,454,674
1,250   Colorado Educational and Cultural Facilities Authority, Revenue Bonds, University Corporation for Atmospheric Research Project, Refunding Series 2012A, 4.500%, 9/01/22   No Opt. Call A+ 1,360,575
545   Colorado Educational and Cultural Facilities Authority, Revenue Bonds, University Corporation for Atmospheric Research Project, Refunding Series 2017, 3.625%, 9/01/31   9/27 at 100.00 A2 548,979
    Colorado Educational and Cultural Facilities Authority, Revenue Bonds, University of Denver, Series 2017A:        
1,200   4.000%, 3/01/36   3/27 at 100.00 A1 1,255,896
1,600   4.000%, 3/01/37   3/27 at 100.00 A1 1,669,680
1,465   Colorado Health Facilities Authority, Colorado, Revenue Bonds, American Baptist Homes Project, Series 2009A, 7.750%, 8/01/39 (Pre-refunded 8/01/19)   8/19 at 100.00 N/R (4) 1,554,087
6,765   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2009A, 5.500%, 7/01/34   7/19 at 100.00 BBB+ 6,944,002
2,300   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/41   2/21 at 100.00 BBB+ 2,377,924
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A:        
3,020   5.250%, 1/01/40   1/23 at 100.00 BBB+ 3,235,598
4,890   5.250%, 1/01/45   1/23 at 100.00 BBB+ 5,228,779
4,600   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016, 5.000%, 1/01/37   1/24 at 102.00 N/R 4,826,228
8


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
$ 270   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013, 5.625%, 6/01/43   6/23 at 100.00 BBB $296,919
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A:        
2,670   5.000%, 6/01/28   6/25 at 100.00 BBB 2,973,072
6,425   5.000%, 6/01/40   6/25 at 100.00 BBB 6,956,990
665   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Frasier Meadows Project, Refunding & Improvement Series 2017A, 5.250%, 5/15/47   5/27 at 100.00 BB+ 722,436
2,240   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005B, 5.250%, 3/01/36 (Pre-refunded 9/01/18)  –  AGM Insured   9/18 at 102.00 Aa3 (4) 2,291,923
1,150   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 (Pre-refunded 9/01/18)  –  AGM Insured   9/18 at 102.00 Aa3 (4) 1,176,657
9,000   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40   1/20 at 100.00 AA- 9,348,750
625   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care National Obligated Group Project, Series 2010A, 6.000%, 11/15/30 (Pre-refunded 11/15/20)   11/20 at 100.00 N/R (4) 683,513
1,075   Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017, 5.000%, 12/31/47   12/24 at 100.00 BBB 1,167,536
2,000   Colorado Mesa University, Colorado, Enterprise Revenue Bonds, Series 2012B, 4.250%, 5/15/37   5/21 at 100.00 Aa2 2,041,540
    Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Refunding Series 2017C:        
2,775   5.000%, 3/01/43   3/28 at 100.00 AA 3,179,345
2,500   4.000%, 3/01/47   3/28 at 100.00 AA 2,580,375
3,000   Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2014, 5.000%, 8/01/44  –  AGM Insured   8/24 at 100.00 A2 3,295,980
7,250   Commerce City, Colorado, Sales and Use Tax Revenue Bonds, Series 2016, 5.000%, 8/01/46  –  AGM Insured   8/26 at 100.00 A2 8,072,367
2,000   Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B, 5.000%, 11/15/32   11/22 at 100.00 A+ 2,202,800
1,100   Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013A, 5.250%, 11/15/43 (Alternative Minimum Tax)   11/23 at 100.00 A 1,227,512
4,515   Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43   11/23 at 100.00 A 5,016,120
1,820   Denver City and County, Colorado, Dedicated Tax Revenue Bonds, Refunding & Improvement Series 2016A, 4.000%, 8/01/46   8/26 at 100.00 AA- 1,880,424
6,405   Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc. Project, Refunding Series 2017, 5.000%, 10/01/32 (Alternative Minimum Tax)   10/23 at 100.00 BB 6,873,782
9


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016:        
$ 2,955   5.000%, 12/01/28   12/26 at 100.00 Baa2 $3,348,074
2,000   5.000%, 12/01/29   12/26 at 100.00 BBB- 2,256,660
2,635   5.000%, 12/01/35   12/26 at 100.00 Baa2 2,912,334
1,605   5.000%, 12/01/40   12/26 at 100.00 BBB- 1,746,128
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A:        
385   0.000%, 9/01/35   No Opt. Call BBB+ 202,406
150   0.000%, 9/01/37   No Opt. Call BBB+ 72,594
75   0.000%, 9/01/38   No Opt. Call BBB+ 34,736
20   0.000%, 9/01/39   No Opt. Call BBB+ 8,878
110   0.000%, 9/01/41   No Opt. Call BBB+ 44,800
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B:        
1,420   0.000%, 9/01/23  –  NPFG Insured   No Opt. Call BBB+ 1,253,491
18,380   0.000%, 9/01/25  –  NPFG Insured   No Opt. Call BBB+ 15,021,606
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:        
1,045   0.000%, 9/01/29  –  NPFG Insured   No Opt. Call BBB+ 711,446
2,175   0.000%, 9/01/30  –  NPFG Insured   No Opt. Call BBB+ 1,411,727
25,050   0.000%, 9/01/31  –  NPFG Insured   No Opt. Call BBB+ 15,607,402
23,305   0.000%, 9/01/32  –  NPFG Insured   No Opt. Call BBB+ 13,946,178
100   0.000%, 9/01/33  –  NPFG Insured   No Opt. Call BBB+ 57,189
12,500   E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2006A, 0.000%, 9/01/38  –  NPFG Insured   9/26 at 54.77 BBB+ 5,083,000
    E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A:        
385   0.000%, 9/01/28  –  NPFG Insured   No Opt. Call BBB+ 274,070
60,000   0.000%, 3/01/36  –  NPFG Insured   No Opt. Call BBB+ 30,849,000
    E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B:        
345   0.000%, 9/01/28  –  NPFG Insured   9/20 at 63.98 BBB+ 209,115
13,000   0.000%, 9/01/34  –  NPFG Insured   9/20 at 45.40 BBB+ 5,554,770
14,500   0.000%, 3/01/36  –  NPFG Insured   9/20 at 41.72 A 5,686,175
500   Eagle County Air Terminal Corporation, Colorado, Airport Terminal Project Revenue Bonds, Refunding Series 2011A, 5.500%, 5/01/22 (Alternative Minimum Tax)   5/21 at 100.00 Baa2 543,315
1,860   Metropolitan State University of Denver, Colorado, Institutional Enterprise Revenue Bonds, Aerospace and Engineering Sciences Building Project, Series 2016, 4.000%, 12/01/40   12/25 at 100.00 Aa2 1,915,967
    Park 70 Metropolitan District, City of Aurora, Colorado, General Obligation Refunding and Improvement Bonds, Series 2016:        
1,565   5.000%, 12/01/36   12/26 at 100.00 Baa3 1,649,901
2,100   5.000%, 12/01/46   12/26 at 100.00 Baa3 2,201,892
10


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
$ 3,000   Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2009, 6.250%, 12/01/30 (Pre-refunded 12/01/19)  –  AGC Insured   12/19 at 100.00 AA (4) $3,183,240
6,705   Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/45   12/25 at 100.00 A 7,469,236
5,715   Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 (Pre-refunded 12/01/20)  –  AGM Insured   12/20 at 100.00 A2 (4) 6,287,529
700   Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.500%, 11/15/38   No Opt. Call A+ 965,559
    Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:        
2,500   6.500%, 1/15/30   7/20 at 100.00 Baa3 2,658,350
3,115   6.000%, 1/15/34   7/20 at 100.00 Baa3 3,264,894
2,615   6.000%, 1/15/41   7/20 at 100.00 Baa3 2,737,800
1,000   Sierra Ridge Metropolitan District 2, Douglas County, Colorado, General Obligation Bonds, Limited Tax Series 2016A, 5.500%, 12/01/46   12/21 at 103.00 N/R 1,024,590
750   Thompson Crossing Metropolitan District 2, Johnstown, Larimer County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2016B, 5.000%, 12/01/36  –  AGM Insured   12/26 at 100.00 AA 828,938
    Traditions Metropolitan District 2, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2016:        
1,050   5.000%, 12/01/32  –  BAM Insured   12/26 at 100.00 Baa2 1,178,226
1,000   4.125%, 12/01/37  –  BAM Insured   12/26 at 100.00 Baa2 1,029,460
2,000   Vista Ridge Metropolitan District, In the Town of Erie, Weld County, Colorado, General Obligation Refunding Bonds, Series 2016A, 4.000%, 12/01/36  –  BAM Insured   12/26 at 100.00 Baa1 2,052,700
1,775   Waterview I Metropolitan District, El Paso County, Colorado, Limited Tax General Obligation Bonds, Series 2016, 5.000%, 12/01/41   12/26 at 100.00 A- 1,957,772
324,255   Total Colorado       258,010,388
    Connecticut – 1.4% (0.9% of Total Investments)        
3,430   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2012H, 5.000%, 7/01/24 (Pre-refunded 7/01/22)  –  AGM Insured   7/22 at 100.00 A2 (4) 3,830,555
    Connecticut Municipal Electric Energy Cooperative, Power Supply System Revenue Bonds, Tender Option Bond Trust 2016-XG0059:        
1,295   14.270%, 1/01/32 (IF),144A (5)   1/23 at 100.00 A+ 1,817,714
190   14.148%, 1/01/38 (IF),144A (5)   1/23 at 100.00 A+ 262,010
    Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2018A:        
14,775   5.000%, 1/01/34   1/28 at 100.00 A+ 16,576,811
6,410   5.000%, 1/01/37   1/28 at 100.00 A+ 7,126,381
6,000   5.000%, 1/01/38   1/28 at 100.00 A+ 6,660,420
2,500   Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.875%, 4/01/39 (Pre-refunded 4/01/20)   4/20 at 100.00 N/R (4) 2,750,800
11


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Connecticut (continued)        
$ 3,565   Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2013A, 4.000%, 4/01/39   4/22 at 100.00 AA- $3,595,089
4,755   Mashantucket Western Pequot Tribe, Connecticut, Special Revenue Bonds, Subordinate Series 2013A, 6.050%, 7/01/31 (cash 4.000%, PIK 2.050%) (7)   No Opt. Call N/R 148,586
42,920   Total Connecticut       42,768,366
    Delaware – 0.3% (0.2% of Total Investments)        
7,255   Delaware Transportation Authority, Revenue Bonds, US 301 Project, Series 2015, 5.000%, 6/01/55   6/25 at 100.00 A1 7,938,421
    District of Columbia – 1.7% (1.1% of Total Investments)        
1,115   District of Columbia Housing Finance Agency, GNMA Collateralized Single Family Mortgage Revenue Bonds, Series 1988E-4, 6.375%, 6/01/26 (Alternative Minimum Tax)   12/18 at 100.00 AA+ 1,117,977
4,365   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33   No Opt. Call Baa1 4,940,133
21,000   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46   9/18 at 100.00 N/R 3,713,430
23,745   District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Series 1998, 5.500%, 10/01/23  –  AGM Insured (UB)   No Opt. Call AA 26,363,836
    District of Columbia, General Obligation Bonds, Series 1998B:        
5,000   6.000%, 6/01/19  –  NPFG Insured   No Opt. Call AA+ 5,186,600
9,505   6.000%, 6/01/20  –  NPFG Insured   No Opt. Call AA+ 10,258,081
64,730   Total District of Columbia       51,580,057
    Florida – 8.5% (5.3% of Total Investments)        
1,480   Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A, 5.000%, 11/15/37   11/23 at 100.00 BBB 1,575,179
    Bay County, Florida, Educational Facilities Revenue Refunding Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A:        
450   5.000%, 9/01/45   9/23 at 100.00 BBB 466,929
875   5.000%, 9/01/48   9/23 at 100.00 BBB 906,701
1,000   Brevard County Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Health First, Inc. Project, Series 2009B, 7.000%, 4/01/39 (Pre-refunded 4/01/19)   4/19 at 100.00 A (4) 1,036,990
7,500   Broward County, Florida, Airport System Revenue Bonds, Series 2015A, 5.000%, 10/01/45 (Alternative Minimum Tax)   10/25 at 100.00 A+ 8,277,000
    Broward County, Florida, Airport System Revenue Bonds, Series 2017:        
13,500   5.000%, 10/01/42 (Alternative Minimum Tax)   10/27 at 100.00 A+ 15,165,225
3,485   5.000%, 10/01/47 (Alternative Minimum Tax)   10/27 at 100.00 A+ 3,900,342
4,315   Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 (Pre-refunded 10/01/21)  –  AGM Insured   10/21 at 100.00 A (4) 4,740,502
100   Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2012A, 6.125%, 6/15/43   6/22 at 100.00 N/R 104,049
4,165   Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2012A, 5.000%, 4/01/32   4/22 at 100.00 Baa1 4,445,846
12


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$ 1,150   Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University, Refunding Series 2011, 6.375%, 4/01/31   4/21 at 100.00 Baa1 $1,259,112
2,000   Florida Ports Financing Commission, Revenue Bonds, State Transportation Trust Fund-Intermodal Program, Refunding Series 2011B, 5.375%, 10/01/29 (Alternative Minimum Tax)   10/21 at 100.00 Aa3 2,198,140
7,050   Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds, Brightline Passenger Rail Project - South Segment, Series 2017, 5.625%, 1/01/47 (Alternative Minimum Tax), 144A   1/19 at 105.00 BB- 7,327,841
2,500   Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Refunding Series 2009C, 5.000%, 10/01/34 (Pre-refunded 10/01/19)   10/19 at 100.00 AA- (4) 2,600,825
8,565   Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017, 5.000%, 10/01/52 (Alternative Minimum Tax)   10/27 at 100.00 A+ 9,528,905
3,890   Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Series 2016A, 5.000%, 10/01/40 (Alternative Minimum Tax)   10/26 at 100.00 AA- 4,336,144
6,020   Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Senior Lien Series 2015A, 5.000%, 10/01/44 (Alternative Minimum Tax)   10/24 at 100.00 A+ 6,558,308
2,290   Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Lien Series 2015B, 5.000%, 10/01/40   10/24 at 100.00 A+ 2,510,779
10,305   Hillsborough County Aviation Authority, Florida, Tampa International Airport Customer Facility Charge Revenue Bonds, Series 2015A, 5.000%, 10/01/44   10/24 at 100.00 A- 11,292,528
    JEA, Florida, Water and Sewer System Revenue Bonds, Series 2010D:        
2,690   5.000%, 10/01/39   4/20 at 100.00 Aa2 2,823,612
5,310   5.000%, 10/01/39 (Pre-refunded 4/01/20)   4/20 at 100.00 N/R (4) 5,597,961
5,075   Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Series 2015, 5.000%, 11/15/35   11/24 at 100.00 A2 5,582,094
1,500   Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21 (Alternative Minimum Tax)   6/20 at 100.00 BB+ 1,530,345
9,820   Miami Beach Redevelopment Agency, Florida, Tax Increment Revenue Bonds, City Center/Historic Convention Village, Series 2015A, 5.000%, 2/01/44  –  AGM Insured   2/24 at 100.00 AA 10,987,991
2,000   Miami Health Facilities Authority, Florida, Health Facilities Revenue Bonds, Miami Jewish Health System Inc. Project, Series 2017, 5.125%, 7/01/46   7/27 at 100.00 BBB 2,197,140
2,930   Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2012A, 5.000%, 4/01/42   4/23 at 100.00 A- 3,188,485
8,070   Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2015A, 5.000%, 4/01/45   4/25 at 100.00 A- 8,935,185
12,000   Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2018A, 5.000%, 4/01/53   4/28 at 100.00 A- 13,381,200
1,500   Miami-Dade County Health Facility Authority, Florida, Hospital Revenue Bonds, Nicklaus Children's Hospital, Refunding Series 2017, 5.000%, 8/01/42   8/27 at 100.00 A+ 1,667,490
1,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2012A, 5.000%, 10/01/29 (Alternative Minimum Tax)   10/22 at 100.00 A 1,092,450
1,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2014B, 5.000%, 10/01/37   10/24 at 100.00 A 1,118,910
13


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
    Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B:        
$ 4,000   5.000%, 10/01/28   10/20 at 100.00 A $4,254,520
7,890   5.000%, 10/01/41   10/20 at 100.00 A 8,371,369
5,000   Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2014A, 5.000%, 10/01/35 (Alternative Minimum Tax)   10/24 at 100.00 A 5,570,650
3,410   Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2015A, 5.000%, 10/01/38 (Alternative Minimum Tax)   10/25 at 100.00 A 3,754,171
2,865   Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37   10/22 at 100.00 A2 3,122,764
    Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Refunding Series 2012:        
2,050   5.000%, 7/01/42  –  AGM Insured   7/22 at 100.00 A1 2,235,915
3,000   5.000%, 7/01/42   7/22 at 100.00 AA 3,254,580
1,000   Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/39 (Pre-refunded 10/01/20)  –  AGM Insured   10/20 at 100.00 AA (4) 1,071,120
12,370   Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42   10/22 at 100.00 A+ 13,493,196
4,000   North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.375%, 10/01/40   10/20 at 100.00 AA 4,276,480
1,665   Orange County Health Facilities Authority, Florida, Hosiptal Revenue Bonds, Orlando Health, Inc., Series 2009, 5.125%, 10/01/26   10/19 at 100.00 A 1,731,200
115   Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of Boca Raton Project, Series 2014A, 7.250%, 6/01/34   6/22 at 102.00 N/R 131,446
4,635   Port Saint Lucie, Florida, Public Service Tax Revenue Bonds, Recovery Zone Facility Bond Series 2014B, 5.000%, 9/01/43   9/24 at 100.00 AA- 5,237,318
10,095   Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperative, Inc. Project, Refunding Series 2018B, 5.000%, 3/15/42   5/28 at 100.00 A- 11,335,877
    South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Series 2017:        
5,770   5.000%, 8/15/42   8/27 at 100.00 A1 6,516,523
6,040   5.000%, 8/15/47   8/27 at 100.00 A1 6,791,376
705   Southeast Overtown/Park West Community Redevelopement Agency, Florida, Tax Increment Revenue Bonds, Series 2014A-1, 5.000%, 3/01/30   3/24 at 100.00 BBB+ 771,630
1,500   Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014A, 5.250%, 7/01/44   1/24 at 100.00 A- 1,619,940
700   Tampa, Florida, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Refunding & Capital Improvement Series 2012A, 5.000%, 9/01/29   9/22 at 100.00 A+ 770,903
14,610   Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series 2012B, 5.000%, 7/01/42 (Pre-refunded 7/01/22)   7/22 at 100.00 A2 (4) 16,257,716
195   Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40 (6)   5/19 at 100.00 N/R 187,130
85   Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible, Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40 (6)   5/22 at 100.00 N/R 68,507
14


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$ 120   Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series 2007-3, 6.650%, 5/01/40 (7)   10/18 at 100.00 N/R $1
10   Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing Parcel Series 2007-1. RMKT, 6.650%, 5/01/40   10/18 at 100.00 N/R 9,708
290   Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-1, 0.000%, 5/01/40 (7)   10/18 at 81.98 N/R 230,968
180   Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-2, 0.000%, 5/01/40 (7)   10/18 at 67.45 N/R 117,949
195   Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2015-3, 6.610%, 5/01/40 (7)   10/18 at 100.00 N/R 2
975   Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37   10/18 at 100.00 N/R 976,053
6,510   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/45   6/25 at 100.00 A- 7,198,367
233,515   Total Florida       255,691,587
    Georgia – 1.6% (1.0% of Total Investments)        
1,820   Atlanta Development Authority, Georgia, Revenue Bonds, New Downtown Atlanta Stadium Project, Senior Lien Series 2015A-1, 5.250%, 7/01/40   7/25 at 100.00 A+ 2,073,926
805   Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A Remarketed, 7.500%, 1/01/31 (Pre-refunded 1/01/19)   1/19 at 100.00 A2 (4) 825,487
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B:        
525   5.250%, 11/01/34  –  AGM Insured   11/19 at 100.00 A+ 547,360
985   5.250%, 11/01/34 (Pre-refunded 11/01/19)  –  AGM Insured   11/19 at 100.00 AA (4) 1,030,320
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2015:        
3,065   5.000%, 11/01/31   5/25 at 100.00 A+ 3,495,019
5,000   5.000%, 11/01/32   5/25 at 100.00 A+ 5,688,300
1,760   Dalton Development Authority, Georgia, Revenue Certificates, Hamilton Health Care System Inc., Series 1996, 5.500%, 8/15/26  –  NPFG Insured   No Opt. Call Baa2 1,948,654
2,000   Fulton County Development Authority, Georgia, Hospital Revenue Bonds, Wellstar Health System, Inc Project, Series 2017A, 5.000%, 4/01/42   4/27 at 100.00 A 2,216,140
    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010A:        
590   5.000%, 2/15/30   2/20 at 100.00 A 616,550
1,910   5.000%, 2/15/30 (Pre-refunded 2/15/20)   2/20 at 100.00 N/R (4) 2,004,851
    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:        
710   5.250%, 2/15/37   2/20 at 100.00 AA- 742,305
2,290   5.250%, 2/15/37 (Pre-refunded 2/15/20)   2/20 at 100.00 N/R (4) 2,412,378
10,260   Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60   7/25 at 100.00 A2 10,912,331
1,000   Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/20   No Opt. Call A- 1,047,710
15


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Georgia (continued)        
$ 825   Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Refunding Series 1992P, 6.250%, 7/01/20  –  AMBAC Insured (ETM)   No Opt. Call N/R (4) $873,230
3,265   Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Third Indenture, Series 2015B, 5.000%, 7/01/41   7/26 at 100.00 AA- 3,716,974
5,000   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Emory University, Refunding Series 2016A, 5.000%, 10/01/46   10/26 at 100.00 AA+ 5,707,500
1,220   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2012A, 5.250%, 10/01/27   10/21 at 100.00 Baa2 1,307,559
1,425   Valdosta and Lowndes County Hospital Authority, Georgia, Revenue Certificates, South Georgia Medical Center Project, Series 2011B, 5.000%, 10/01/41   10/21 at 100.00 AA- 1,535,380
44,455   Total Georgia       48,701,974
    Guam – 0.1% (0.1% of Total Investments)        
765   Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.000%, 1/01/31   1/22 at 100.00 A 802,783
1,770   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2010, 5.625%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 BBB- (4) 1,900,591
1,220   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43   7/23 at 100.00 BBB- 1,327,348
3,755   Total Guam       4,030,722
    Hawaii – 1.6% (1.0% of Total Investments)        
13,000   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2013A, 5.500%, 7/01/43   7/23 at 100.00 A1 14,480,570
6,000   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Refunding Series 2017B, 4.000%, 3/01/37 (Alternative Minimum Tax)   3/27 at 100.00 Baa2 6,100,200
10,000   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Series 2017A, 3.100%, 5/01/26 (Alternative Minimum Tax)   No Opt. Call Baa2 9,918,000
11,205   Hawaii State, Airport System Revenue Bonds, Series 2015A, 5.000%, 7/01/45 (Alternative Minimum Tax)   7/25 at 100.00 A1 12,446,850
5,000   Hawaii State, General Obligation Bonds, Series 2017FK, 4.000%, 5/01/35   5/27 at 100.00 AA 5,287,250
45,205   Total Hawaii       48,232,870
    Idaho – 0.8% (0.5% of Total Investments)        
5,000   Idaho Health Facilities Authority, Hospital Revenue Bonds, CHE Trinity Helath Group, Series 2017A, 5.000%, 12/01/47   12/27 at 100.00 AA- 5,656,200
11,205   Idaho Health Facilities Authority, Hospital Revenue Bonds, CHE Trinity Helath Group, Series 2017ID, 5.000%, 12/01/46   6/27 at 100.00 AA- 12,616,830
    Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016:        
1,795   5.000%, 9/01/23   No Opt. Call BB+ 1,954,127
1,700   5.000%, 9/01/29   9/26 at 100.00 BB+ 1,854,326
16


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Idaho (continued)        
    Idaho Water Resource Board, Water Resource Loan Program Revenue, Ground Water Rights Mitigation Series 2012A:        
$ 1,155   4.750%, 9/01/26   9/22 at 100.00 A3 $1,254,261
310   5.000%, 9/01/32   9/22 at 100.00 A3 338,371
21,165   Total Idaho       23,674,115
    Illinois – 19.7% (12.2% of Total Investments)        
    Bensenville, Illinois, General Obligation Bonds, Series 2011A:        
1,055   5.000%, 12/15/30  –  AGM Insured   12/21 at 100.00 AA 1,124,197
1,945   5.000%, 12/15/30 (Pre-refunded 12/15/21)  –  AGM Insured   12/21 at 100.00 AA (4) 2,144,868
6,000   Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46   4/27 at 100.00 A 7,021,860
1,470   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A, 5.000%, 12/01/41   12/21 at 100.00 B2 1,487,875
9,250   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44   12/25 at 100.00 B+ 10,767,462
2,400   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46   12/26 at 100.00 BB- 2,748,168
11,295   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A   12/27 at 100.00 B+ 13,521,583
    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1:        
10,000   0.000%, 12/01/20  –  FGIC Insured   No Opt. Call B+ 9,387,600
10,130   0.000%, 12/01/24  –  FGIC Insured   No Opt. Call Baa2 7,977,071
7,140   0.000%, 12/01/25  –  FGIC Insured   No Opt. Call B+ 5,317,872
4,325   0.000%, 12/01/29  –  FGIC Insured   No Opt. Call B+ 2,600,623
4,235   0.000%, 12/01/31  –  FGIC Insured   No Opt. Call B+ 2,294,735
    Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A:        
15,000   0.000%, 12/01/21  –  FGIC Insured   No Opt. Call B+ 13,579,350
10,000   0.000%, 12/01/23  –  FGIC Insured   No Opt. Call B+ 8,294,000
8,845   5.500%, 12/01/26  –  FGIC Insured   No Opt. Call B+ 9,683,860
7,900   Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40   12/21 at 100.00 A3 8,430,643
1,879   Chicago, Illinois, Certificates of Participation Tax Increment Revenue Notes, Fullerton/Milwaukee Redevelopment Project, Series 2011A, 6.830%, 3/15/24   10/18 at 100.00 Ba3 1,880,228
    Chicago, Illinois, FHA/GNMA Multifamily Housing Revenue Bonds, Archer Court Apartments, Series 1999A:        
130   5.500%, 12/20/19 (Alternative Minimum Tax)   10/18 at 100.00 N/R 130,343
1,210   5.600%, 12/20/29 (Alternative Minimum Tax)   10/18 at 100.00 AA- 1,211,936
1,925   5.650%, 12/20/40 (Alternative Minimum Tax)   10/18 at 100.00 AA- 1,927,580
2,245   Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Series 2015C, 5.000%, 1/01/46 (Alternative Minimum Tax)   1/25 at 100.00 A 2,430,190
17


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 13,000   Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Series 2017D, 5.000%, 1/01/47 (Alternative Minimum Tax)   1/27 at 100.00 A $14,153,100
    Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:        
4,115   0.000%, 1/01/33  –  FGIC Insured   No Opt. Call BBB+ 2,172,802
29,600   0.000%, 1/01/38  –  FGIC Insured   No Opt. Call BBB- 12,057,264
11,675   Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38   1/27 at 100.00 BBB- 13,177,572
22,750   Chicago, Illinois, General Obligation Refunding Bonds, Emergency Telephone System, Series 1999, 5.500%, 1/01/23  –  FGIC Insured   No Opt. Call BBB- 24,492,195
6,280   Chicago, Illinois, Sales Tax Revenue Bonds, Series 2011A, 5.000%, 1/01/41 (Pre-refunded 1/01/22)   1/22 at 100.00 N/R (4) 6,927,028
6,410   Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2001A, 5.500%, 1/01/30  –  NPFG Insured   No Opt. Call Baa2 7,277,081
1,500   Chicago, Illinois, Water Revenue Bonds, Senior Lien Series 2001, 5.750%, 11/01/30  –  AMBAC Insured   No Opt. Call Baa2 1,711,845
4,500   Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2017, 5.000%, 12/01/47  –  BAM Insured   12/27 at 100.00 A+ 4,843,665
13,310   Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33   11/20 at 100.00 A2 13,984,418
    Cook County, Illinois, General Obligation Bonds, Refunding Series 2018:        
4,800   5.000%, 11/15/34   11/26 at 100.00 A2 5,342,976
3,250   5.000%, 11/15/35   11/26 at 100.00 AA- 3,607,727
    Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History, Series 2002.RMKT:        
5,000   4.450%, 11/01/36   11/25 at 102.00 A 5,195,750
815   4.500%, 11/01/36   11/24 at 100.00 A 840,469
2,785   5.500%, 11/01/36   11/23 at 100.00 A 3,042,752
410   Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A, 6.000%, 12/01/45   12/25 at 100.00 N/R 418,725
13,955   Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2015, 5.000%, 5/01/45 (UB) (5)   5/25 at 100.00 AA 15,167,550
2,000   Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2016, 4.000%, 3/01/38   3/26 at 100.00 A1 2,051,280
2,500   Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C, 5.000%, 2/15/33   2/27 at 100.00 Aa2 2,863,925
4,985   Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/32   9/22 at 100.00 BB+ 5,257,181
    Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:        
4,750   5.000%, 9/01/39   9/24 at 100.00 BB+ 5,051,435
6,000   5.000%, 9/01/42   9/24 at 100.00 BB+ 6,370,740
4,125   Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39 (Pre-refunded 11/01/19)   11/19 at 100.00 Aa2 (4) 4,322,257
18


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A:        
$ 11,520   4.000%, 7/01/37   7/26 at 100.00 A $11,504,448
6,140   4.000%, 7/01/38   7/26 at 100.00 A 6,089,836
    Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A:        
195   6.000%, 5/15/39   5/20 at 100.00 A 205,824
615   6.000%, 5/15/39 (Pre-refunded 5/15/20)   5/20 at 100.00 N/R (4) 660,861
10,745   Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A, 5.000%, 11/15/45   11/25 at 100.00 A 11,636,513
12,125   Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35   5/20 at 100.00 AA- 12,640,312
    Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:        
50   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 53,158
4,995   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 5,310,434
    Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A:        
415   5.500%, 7/01/28   7/23 at 100.00 A- 461,663
390   6.000%, 7/01/43   7/23 at 100.00 A- 431,796
    Illinois Finance Authority, Revenue Bonds, Resurrection Health Care Corporation, Refunding Series 2009:        
90   6.125%, 5/15/25 (Pre-refunded 5/15/19)   5/19 at 100.00 N/R (4) 93,231
100   6.125%, 5/15/25 (Pre-refunded 5/15/19)   5/19 at 100.00 N/R (4) 103,630
2,810   6.125%, 5/15/25 (Pre-refunded 5/15/19)   5/19 at 100.00 AA+ (4) 2,912,003
1,000   Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Refunding Series 2006B, 5.250%, 11/01/35 (Pre-refunded 11/01/18)  –  NPFG Insured   11/18 at 100.00 Aaa (4) 1,009,690
1,120   Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.625%, 11/01/39 (Pre-refunded 5/01/19)   5/19 at 100.00 Aaa (4) 1,162,370
4,250   Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015B, 5.000%, 11/15/39   5/25 at 100.00 A+ 4,669,602
    Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C:        
560   5.000%, 8/15/35   8/25 at 100.00 Baa1 608,703
3,745   5.000%, 8/15/44   8/25 at 100.00 Baa1 4,012,955
    Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009:        
2,000   6.875%, 8/15/38 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 2,108,380
3,000   7.000%, 8/15/44 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 3,166,410
1,000   Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2005 Remarketed, 5.250%, 3/01/30 (Pre-refunded 3/01/20)  –  AGM Insured   3/20 at 100.00 A2 (4) 1,056,410
19


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2009B:        
$ 470   5.000%, 8/15/26 (Pre-refunded 8/15/20)   8/20 at 100.00 N/R (4) $499,643
930   5.000%, 8/15/26   8/20 at 100.00 AA- 982,136
2,500   Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (5)   2/21 at 100.00 AA- (4) 2,724,400
3,000   Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2015A, 5.000%, 10/01/46   10/25 at 100.00 AA- 3,322,890
11,140   Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51   10/21 at 100.00 AA- 11,904,650
2,000   Illinois Health Facilities Authority, Revenue Bonds, Midwest Care Center I Inc., Series 2001, 5.950%, 2/20/36   8/18 at 100.00 Aa1 2,009,120
1,830   Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 6/15/32  –  AGM Insured   6/24 at 100.00 BBB- 1,997,500
    Illinois State, General Obligation Bonds, February Series 2014:        
3,500   5.250%, 2/01/30   2/24 at 100.00 BBB- 3,724,630
4,100   5.250%, 2/01/31   2/24 at 100.00 BBB- 4,352,765
3,200   5.250%, 2/01/32   2/24 at 100.00 BBB- 3,385,920
2,000   5.250%, 2/01/33   2/24 at 100.00 BBB- 2,111,160
1,575   5.250%, 2/01/34   2/24 at 100.00 BBB- 1,659,373
2,000   5.000%, 2/01/39   2/24 at 100.00 BBB- 2,067,900
8,250   Illinois State, General Obligation Bonds, January Series 2016, 5.000%, 1/01/32   1/26 at 100.00 BBB- 8,682,547
1,025   Illinois State, General Obligation Bonds, March Series 2012, 5.000%, 3/01/34   3/22 at 100.00 BBB- 1,054,366
450   Illinois State, General Obligation Bonds, May Series 2014, 5.000%, 5/01/39   5/24 at 100.00 BBB- 466,092
1,500   Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/37   11/26 at 100.00 BBB- 1,574,280
    Illinois State, General Obligation Bonds, October Series 2016:        
3,790   5.000%, 2/01/26   No Opt. Call BBB- 4,084,293
3,510   5.000%, 2/01/28   2/27 at 100.00 BBB- 3,768,582
2,375   Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/25   8/22 at 100.00 BBB- 2,494,154
    Illinois State, General Obligation Bonds, Series 2013:        
2,500   5.250%, 7/01/31   7/23 at 100.00 BBB- 2,636,925
1,520   5.500%, 7/01/38   7/23 at 100.00 BBB- 1,601,335
2,020   Illinois State, Sales Tax Revenue Bonds, Build Illinois Series 2011, 3.750%, 6/15/25   6/21 at 100.00 A- 2,064,097
1,395   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38   1/23 at 100.00 AA- 1,527,637
4,685   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40   7/25 at 100.00 AA- 5,191,964
4,435   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015B, 5.000%, 1/01/40   1/26 at 100.00 AA- 4,936,377
1,815   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 15.009%, 1/01/38, 144A (IF)   1/23 at 100.00 AA- 2,505,735
1,875   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0052, 15.000%, 1/01/38, 144A (IF)   1/23 at 100.00 AA- 2,588,081
20


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 2,000   Kane & DeKalb Counties Community Unit School District 301, Illinois, General Obligation Bonds, Series 2006, 0.000%, 12/01/21  –  NPFG Insured   No Opt. Call Aa2 $1,847,240
1,510   Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 5.250%, 1/01/39  –  AGM Insured   1/21 at 100.00 A2 1,612,152
1,000   McCook, Cook County, Illinois, General Obligation Bonds, Series 2008, 5.200%, 12/01/30   12/18 at 100.00 A- 1,009,750
9,000   McHenry County Community Unit School District 200, Woodstock, Illinois, General Obligation Bonds, Series 2006B, 0.000%, 1/15/23  –  FGIC Insured   No Opt. Call Aa2 8,011,530
1,890   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52   12/25 at 100.00 BB+ 1,994,687
5,000   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A, 5.500%, 6/15/53   12/25 at 100.00 BB+ 5,431,150
1,500   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017A, 5.000%, 6/15/57   12/27 at 100.00 BB+ 1,600,470
    Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A:        
2,585   5.500%, 6/15/50   6/20 at 100.00 BBB- 2,764,942
8,055   5.500%, 6/15/50   6/20 at 100.00 BB+ 8,257,019
1,050   Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1, 5.000%, 6/15/50   6/20 at 100.00 BBB- 1,088,840
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1996A:        
6,015   0.000%, 12/15/21  –  NPFG Insured   No Opt. Call Baa2 5,397,620
12,250   0.000%, 12/15/22  –  NPFG Insured   No Opt. Call BBB- 10,567,462
23,575   0.000%, 12/15/23  –  NPFG Insured   No Opt. Call BBB- 19,495,582
10,775   0.000%, 12/15/24  –  NPFG Insured   No Opt. Call BBB- 8,525,719
2,685   Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2010B-2, 5.000%, 6/15/50   6/20 at 100.00 BB+ 2,736,659
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:        
155   0.000%, 12/15/23   No Opt. Call N/R 136,871
6,610   0.000%, 12/15/23   No Opt. Call BB+ 5,466,206
5,000   0.000%, 12/15/34  –  NPFG Insured   No Opt. Call BB+ 2,394,000
1,100   0.000%, 12/15/35  –  NPFG Insured   No Opt. Call BB+ 500,104
3,805   0.000%, 6/15/41  –  NPFG Insured   No Opt. Call BB+ 1,309,186
2,750   Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Hospitality Facility, Series 1996A, 7.000%, 7/01/26 (ETM)   No Opt. Call AA+ (4) 3,331,928
    Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010:        
1,550   5.250%, 6/01/21   No Opt. Call A 1,680,774
800   6.000%, 6/01/28 (Pre-refunded 6/01/21)   6/21 at 100.00 N/R (4) 892,064
21


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 1999:        
$ 22,650   5.750%, 6/01/19  –  AGM Insured   No Opt. Call A2 $23,404,698
3,500   5.750%, 6/01/23  –  AGM Insured   No Opt. Call A2 3,970,155
2,395   Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22  –  AGM Insured   No Opt. Call AA 2,084,704
    Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015:        
2,250   5.000%, 3/01/29   3/25 at 100.00 A3 2,512,598
3,505   5.000%, 3/01/40  –  AGM Insured   3/25 at 100.00 A2 3,833,068
    University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013:        
1,580   6.000%, 10/01/32   10/23 at 100.00 Baa1 1,797,013
9,625   6.250%, 10/01/38   10/23 at 100.00 Baa1 10,996,851
2,745   6.000%, 10/01/42   10/23 at 100.00 A- 3,095,482
    Will County Community High School District 210 Lincoln-Way, Illinois, General Obligation Bonds, Series 2006:        
4,930   0.000%, 1/01/23  –  AGM Insured   No Opt. Call A2 4,264,992
12,775   0.000%, 1/01/24  –  AGM Insured (ETM)   No Opt. Call A2 (4) 11,191,155
2,475   Will County School District 122, New Lenox, Illinois, General Obligation Bonds, Series 2000B, 0.000%, 11/01/18  –  AGM Insured   No Opt. Call A2 2,465,001
612,239   Total Illinois       595,776,234
    Indiana – 1.9% (1.2% of Total Investments)        
6,180   Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/23  –  NPFG Insured   No Opt. Call Baa2 5,579,242
1,555   Indiana Finance Authority, Educational Facilities Revenue Bonds, Butler University Project, Refunding Series 2012B, 5.000%, 2/01/28   2/22 at 100.00 A- 1,684,407
1,050   Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 7.000%, 10/01/39   10/19 at 100.00 B 1,061,162
2,865   Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42   5/23 at 100.00 A 3,085,089
1,500   Indiana Finance Authority, Hospital Revenue Bonds, Floyd Memorial Hospital and Health Services Project, Refunding Series 2010, 5.125%, 3/01/30 (Pre-refunded 3/02/20)   3/20 at 100.00 N/R (4) 1,580,625
7,480   Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Refunding 2015A, 5.000%, 12/01/40   6/25 at 100.00 AA 8,299,883
    Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A:        
3,015   5.000%, 7/01/44 (Alternative Minimum Tax)   7/23 at 100.00 BBB+ 3,213,266
1,420   5.000%, 7/01/48 (Alternative Minimum Tax)   7/23 at 100.00 BBB+ 1,509,417
1,500   Indiana Finance Authority, Provate Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013B, 5.000%, 7/01/40 (Alternative Minimum Tax)   7/23 at 100.00 BBB+ 1,603,515
4,670   Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2009A, 5.250%, 12/01/38 (Pre-refunded 12/01/19)   12/19 at 100.00 AA- (4) 4,897,196
22


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Indiana (continued)        
$ 2,500   Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2010B, 5.000%, 12/01/37 (Pre-refunded 12/01/20)   12/20 at 100.00 AA- (4) $2,683,500
5,115   Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, First Lien Green Series 2016A, 5.000%, 10/01/41   10/26 at 100.00 A 5,756,012
2,750   Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.000%, 10/01/41   10/21 at 100.00 A2 2,968,240
4,500   Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2012A, 4.000%, 10/01/42   10/22 at 100.00 A1 4,595,085
4,375   Indiana Municipal Power Agency Power Supply System Revenue Bonds, Refunding Series 2016A, 5.000%, 1/01/42   7/26 at 100.00 A+ 4,928,131
3,985   Valparaiso, Indiana, Exempt Faciltiies Revenue Bonds, Pratt Paper LLC Project, Series 2013, 7.000%, 1/01/44 (Alternative Minimum Tax)   1/24 at 100.00 N/R 4,680,183
54,460   Total Indiana       58,124,953
    Iowa – 1.7% (1.1% of Total Investments)        
1,505   Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Alcoa Inc. Project, Series 2012, 4.750%, 8/01/42   8/22 at 100.00 Ba2 1,546,312
    Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013:        
5,645   5.500%, 12/01/22   12/18 at 100.00 B- 5,691,797
1,335   5.250%, 12/01/25   12/23 at 100.00 B- 1,427,542
1,710   Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26   12/19 at 104.00 B- 1,797,090
1,990   Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018B, 5.250%, 12/01/50 (Mandatory Put 12/01/22)   12/22 at 105.00 B 2,116,942
3,000   Iowa Student Loan Liquidity Corporation, Student Loan Revenue Bonds, Refunding Series 2009-2, 5.500%, 12/01/25   12/19 at 100.00 A 3,114,150
    Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:        
24,420   5.500%, 6/01/42   10/18 at 100.00 B2 24,684,225
12,100   5.625%, 6/01/46   10/18 at 100.00 B 12,239,634
51,705   Total Iowa       52,617,692
    Kansas – 0.5% (0.3% of Total Investments)        
1,240   Johnson and Miami Counties Unified School District 230, Kansas, General Obligation Bonds, Series 2011A, 5.000%, 9/01/26 (Pre-refunded 9/01/21)   9/21 at 100.00 Aa3 (4) 1,346,318
    Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2009C:        
35   5.500%, 11/15/23 (Pre-refunded 11/15/19)   11/19 at 100.00 N/R (4) 36,657
1,505   5.500%, 11/15/23   11/19 at 100.00 AA 1,586,315
3,965   Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial Hospital, Series 2018A, 5.000%, 7/01/48   7/28 at 100.00 A 4,399,841
2,040   Overland Park Development Corporation, Kansas, First Tier Revenue Bonds, Overland Park Convention Center, Series 2007A, 5.125%, 1/01/22  –  AMBAC Insured   10/18 at 100.00 Ba2 2,043,264
23


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Kansas (continued)        
$ 480   Overland Park Transportation Development District, Kansas, Sales Tax Revenue Bonds, Oak Park Mall Project, Series 2010, 5.900%, 4/01/32   4/20 at 100.00 BBB $495,134
20   Sedgwick and Shawnee Counties, Kansas, GNMA Mortgage-Backed Securities Program Single Family Revenue Bonds, Series 1997A-1, 6.950%, 6/01/29 (Alternative Minimum Tax)   No Opt. Call N/R 20,191
5,000   Wyandotte County/Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Improvement Series 2012B, 5.000%, 9/01/32   9/22 at 100.00 A2 5,504,400
14,285   Total Kansas       15,432,120
    Kentucky – 1.7% (1.1% of Total Investments)        
5,540   Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2011, 5.250%, 8/15/46   8/21 at 100.00 Baa1 5,818,496
    Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A:        
2,000   6.000%, 6/01/30 (Pre-refunded 6/01/20)   6/20 at 100.00 BB+ (4) 2,152,420
5,500   6.500%, 3/01/45 (Pre-refunded 6/01/20)   6/20 at 100.00 Baa3 (4) 5,968,490
2,730   Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A, 5.000%, 1/01/45   7/25 at 100.00 Baa2 2,911,190
    Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:        
4,790   0.000%, 7/01/43 (6)   7/31 at 100.00 Baa3 4,505,043
3,655   0.000%, 7/01/46 (6)   7/31 at 100.00 Baa3 3,450,832
    Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Series 2013A:        
8,360   5.750%, 7/01/49   7/23 at 100.00 Baa3 9,135,056
585   6.000%, 7/01/53   7/23 at 100.00 Baa3 646,448
9,195   Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/30   6/21 at 100.00 A- 9,936,577
    Pikeville, Kentucky, Hospital Revenue Bonds, Pikeville Medical Center, Inc. Project, Improvement and Refunding Series 2011:        
5,000   6.250%, 3/01/31   3/21 at 100.00 Baa2 5,408,250
1,375   6.500%, 3/01/41   3/21 at 100.00 Baa2 1,492,177
48,730   Total Kentucky       51,424,979
    Louisiana – 3.5% (2.2% of Total Investments)        
4,955   Ascension Parish Industrial development Board, Louisiana, Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.000%, 7/01/36   7/23 at 100.00 N/R 5,331,134
2,665   East Baton Rouge Sewerage Commission, Louisiana, Revenue Bonds, Refunding Series 2014B, 5.000%, 2/01/39   2/25 at 100.00 AA- 2,985,866
3,130   Jefferson Sales Tax District, Jefferson Parish, Louisiana, Special Sales Tax Revenue Bonds, Series 2017B, 5.000%, 12/01/42  –  AGM Insured   12/27 at 100.00 A2 3,564,976
    Lafayette Parish School Board, Louisiana, Sales Tax Revenue Bonds, Series 2018:        
1,500   4.000%, 4/01/40   4/27 at 100.00 AA 1,548,780
4,685   4.000%, 4/01/43   4/27 at 100.00 AA 4,826,768
24


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Louisiana (continued)        
$ 5,200   Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, East Baton Rouge Sewerage Commission Projects, Subordinate Lien Series 2014A, 5.000%, 2/01/44   2/24 at 100.00 A+ $5,731,752
1,380   Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2009A, 6.500%, 8/01/29   8/20 at 100.00 BBB 1,500,143
8,295   Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, 6.500%, 7/01/36 (Alternative Minimum Tax), 144A   7/23 at 100.00 N/R 9,184,224
845   Louisiana Public Facilities Authority, Hospital Revenue and Refunding Bonds, Lafayette General Medical Center Project, Series 2016A, 5.000%, 11/01/45   11/25 at 100.00 Baa2 909,769
1,830   Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016, 4.000%, 5/15/35   5/26 at 100.00 A3 1,859,317
5,410   Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 5.000%, 5/15/46   5/27 at 100.00 A3 5,971,612
4,305   Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2011, 6.750%, 5/15/41 (Pre-refunded 5/15/21)   5/21 at 100.00 A3 (4) 4,863,789
330   Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A, 5.000%, 7/01/36   7/23 at 100.00 A2 366,145
14,000   Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Series 2015A, 4.000%, 5/01/41   5/25 at 100.00 AA 14,399,840
    New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2015B:        
6,235   5.000%, 1/01/40 (Alternative Minimum Tax)   1/25 at 100.00 A- 6,794,092
6,895   5.000%, 1/01/45 (Alternative Minimum Tax)   1/25 at 100.00 A- 7,480,248
12,760   New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal Project, Series 2017B, 5.000%, 1/01/48 (Alternative Minimum Tax)   1/27 at 100.00 A- 14,046,463
1,000   New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2012, 5.000%, 12/01/28  –  AGM Insured   12/22 at 100.00 A2 1,101,540
5,350   New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/44   6/24 at 100.00 A- 5,870,234
1,200   New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/44   12/24 at 100.00 A- 1,321,392
485   Saint Charles Parish, Louisiana, Gulf Opportunity Zone Revenue Bonds, Valero Project, Series 2010, 4.000%, 12/01/40 (Mandatory Put 6/01/22)   No Opt. Call BBB 512,131
5,655   Shreveport, Louisiana, Water and Sewer Revenue Bonds, Refunding Series 2015, 5.000%, 12/01/40   12/25 at 100.00 A- 6,291,753
98,110   Total Louisiana       106,461,968
    Maine – 0.8% (0.5% of Total Investments)        
2,775   Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/33   7/23 at 100.00 BBB 2,902,622
    Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A:        
3,820   4.000%, 7/01/41   7/26 at 100.00 Ba1 3,616,547
2,800   4.000%, 7/01/46   7/26 at 100.00 Ba1 2,612,372
25


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Maine (continued)        
$ 3,245   Maine Health and Higher Educational Facilities Authority Revenue Bonds, MaineHealth Issue, Series 2018A, 5.000%, 7/01/48   7/28 at 100.00 A+ $3,638,132
2,000   Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Bates College, Series 2013, 5.000%, 7/01/43   7/23 at 100.00 A+ 2,192,940
    Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011:        
3,000   6.750%, 7/01/36   7/21 at 100.00 Ba3 3,241,800
2,260   6.750%, 7/01/41   7/21 at 100.00 Ba3 2,436,348
1,720   Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2010A, 5.000%, 7/01/40   7/20 at 100.00 A1 1,805,105
    Maine Turnpike Authority, Special Obligation Bonds, Series 2014:        
1,290   5.000%, 7/01/33   7/24 at 100.00 A- 1,435,473
1,020   5.000%, 7/01/34   7/24 at 100.00 A- 1,132,690
23,930   Total Maine       25,014,029
    Maryland – 0.3% (0.2% of Total Investments)        
5,000   Baltimore, Maryland, Revenue Bonds, Wastewater Projects, Series 2014C, 5.000%, 7/01/44   1/25 at 100.00 AA- 5,582,500
450   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Cente, Series 2011, 6.000%, 7/01/25   7/21 at 100.00 BBB 492,390
515   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park Public Charter School Issue, Series 2010, 6.000%, 7/01/40   7/19 at 100.00 BB+ 519,563
1,790   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/39   7/24 at 100.00 A 1,941,219
1,070   Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Ingleside King Farm Project, Series 2017A-1, 5.000%, 11/01/28   11/24 at 103.00 BB 1,187,080
8,825   Total Maryland       9,722,752
    Massachusetts – 2.0% (1.3% of Total Investments)        
    Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B:        
4,410   5.000%, 1/01/32   1/20 at 100.00 A3 4,594,073
7,500   5.000%, 1/01/37   1/20 at 100.00 A3 7,798,125
650   Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A, 6.750%, 10/15/37   10/18 at 100.00 N/R 650,982
815   Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2010, 7.625%, 10/15/37   10/20 at 100.00 N/R 860,754
750   Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds, Covanta Energy Project, Series 2012C, 5.250%, 11/01/42 (Alternative Minimum Tax)   9/18 at 100.00 BB- 756,023
825   Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Green Bonds, Series 2015D, 5.000%, 7/01/44   7/25 at 100.00 BBB 893,013
3,500   Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2016BB-1, 5.000%, 10/01/46   10/26 at 100.00 A+ 3,957,380
26


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Massachusetts (continued)        
$ 3,200   Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015, 4.500%, 1/01/45   1/25 at 100.00 Baa2 $3,289,632
1,220   Massachusetts Development Finance Agency, Revenue Bonds, Loomis Communities, Series 2013A, 5.125%, 1/01/25   1/23 at 100.00 BBB 1,339,096
2,300   Massachusetts Development Finance Agency, Revenue Bonds, Olin College, Series 2013E, 5.000%, 11/01/43   11/23 at 100.00 A2 2,521,697
2,500   Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care, Series 2016I, 4.000%, 7/01/41   7/26 at 100.00 BBB+ 2,523,600
    Massachusetts Development Finance Agency, Revenue Bonds, Western New England University, Series 2015:        
1,145   5.000%, 9/01/40   9/25 at 100.00 BBB 1,231,768
1,280   5.000%, 9/01/45   9/25 at 100.00 BBB 1,372,890
    Massachusetts Developoment Finance Agency, Revenue Bonds, Boston University, Tender Option Bond Trust 2016-XG0070:        
930   14.369%, 10/01/48 (IF),144A (5)   10/23 at 100.00 A+ 1,302,642
505   14.448%, 10/01/48 (IF),144A (5)   10/23 at 100.00 A+ 707,596
    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A:        
3,190   5.750%, 7/01/39   7/19 at 100.00 Baa2 3,269,271
6,335   5.750%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 N/R (4) 6,580,164
2,265   Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40 (Alternative Minimum Tax)   12/18 at 100.00 AA 2,283,301
700   Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project, Series 2011A, 5.125%, 7/01/41   7/21 at 100.00 A3 749,070
5,930   Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43   5/23 at 100.00 Aa2 6,557,928
1,100   Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A, 0.000%, 1/01/24  –  NPFG Insured   No Opt. Call A3 962,071
6,700   Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Parking Revenue Bonds, Senior Lien Series 2011, 5.000%, 7/01/41   7/21 at 100.00 A+ 7,171,680
57,750   Total Massachusetts       61,372,756
    Michigan – 2.7% (1.7% of Total Investments)        
3,535   Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39   7/22 at 100.00 A- 3,844,277
2,235   Detroit, Michigan, Water Supply System Revenue Bonds, Refunding Second Lien Series 2001C, 4.750%, 7/01/29  –  BHAC Insured   10/18 at 100.00 A- 2,241,280
2,020   Detroit, Michigan, Water Supply System Revenue Bonds, Senior Lien Series 2011A, 5.250%, 7/01/41   7/21 at 100.00 A- 2,172,773
3,665   Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Series 2011A, 5.500%, 7/01/41   7/21 at 100.00 AA- 4,013,175
1,500   Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Series 2012, 5.000%, 11/15/42   11/22 at 100.00 A+ 1,622,265
27


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Michigan (continued)        
$ 405   Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Refunding Senior Loan Series 2014D-1, 5.000%, 7/01/37  –  AGM Insured   7/24 at 100.00 A2 $446,047
2,690   Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Series 2014C-3, 5.000%, 7/01/32  –  AGM Insured   7/24 at 100.00 A2 2,993,351
1,000   Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Series 2014D-6, 5.000%, 7/01/36  –  NPFG Insured   7/24 at 100.00 BBB+ 1,086,710
    Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2015:        
2,500   5.000%, 12/01/31   6/22 at 100.00 AA- 2,738,375
3,670   5.000%, 12/01/32   6/22 at 100.00 AA- 4,015,714
2,000   Michigan Finance Authority, State Revolving Fund Revenue Bonds, Clean Water Series 2012, 5.000%, 10/01/31 (Pre-refunded 10/01/22)   10/22 at 100.00 AAA (4) 2,247,040
5,000   Michigan Hospital Finance Authority, Revenue Bonds, Ascension Health Senior Credit Group, Refunding and Project Series 2010F-6, 4.000%, 11/15/47   11/26 at 100.00 AA+ 5,091,650
1,000   Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-I-A, 5.375%, 10/15/41   10/21 at 100.00 AA- 1,099,590
    Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I:        
5,000   5.000%, 4/15/28   10/25 at 100.00 AA- 5,794,100
10,000   5.000%, 4/15/34   10/25 at 100.00 AA- 11,328,000
3,495   Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009, 5.750%, 11/15/39 (Pre-refunded 11/15/19)   11/19 at 100.00 N/R (4) 3,678,348
5,200   Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2009C, 5.000%, 12/01/48   6/22 at 100.00 AA- 5,575,440
1,165   Michigan Strategic Fund, Limited Obligation Revenue Bonds, Michigan House of Representatives Facilities, Series 2008A, 5.250%, 10/15/23 (Pre-refunded 10/15/18)  –  AGC Insured   10/18 at 100.00 AA (4) 1,174,425
5,000   Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42   9/18 at 100.00 B2 5,011,450
1,150   Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)   9/18 at 100.00 Aaa (4) 1,156,429
3,000   Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2012A, 5.000%, 12/01/37   12/22 at 100.00 A 3,281,400
    Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D:        
1,325   5.000%, 12/01/40   12/25 at 100.00 A 1,481,522
1,200   5.000%, 12/01/45   12/25 at 100.00 A 1,337,604
    Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2017B:        
1,350   5.000%, 12/01/42 (Alternative Minimum Tax)   12/27 at 100.00 A 1,500,862
3,140   5.000%, 12/01/47 (Alternative Minimum Tax)   12/27 at 100.00 A 3,477,738
28


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Michigan (continued)        
    Wayne State University, Michigan, General Revenue Bonds, Series 2018A:        
$ 1,140   5.000%, 11/15/35   11/25 at 100.00 A+ $1,284,199
1,120   5.000%, 11/15/36   11/25 at 100.00 A+ 1,258,555
74,505   Total Michigan       80,952,319
    Minnesota – 1.8% (1.1% of Total Investments)        
310   Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A, 4.000%, 8/01/36   8/26 at 100.00 BB+ 298,428
2,000   Brainerd Independent School District 181, Crow Wing County, Minnesota, General Obligation Bonds, School Building Series 2018A, 4.000%, 2/01/42   2/27 at 100.00 AAA 2,068,480
1,000   Cuyuna Range Hospital District, Minnesota, Health Care Facilities Gross Revenue Bonds, Refunding Series 2007, 5.000%, 6/01/29   10/18 at 100.00 N/R 1,000,370
5,000   Dakota and Washington Counties Housing and Redevelopment Authority, Minnesota, GNMA Mortgage-Backed Securities Program Single Family Residential Mortgage Revenue Bonds, Series 1988, 8.450%, 9/01/19 (Alternative Minimum Tax) (ETM)   No Opt. Call AA+ (4) 5,357,500
500   Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2016A, 4.000%, 7/01/37   7/25 at 100.00 BB+ 483,220
2,000   Duluth Housing & Redevelopment Authority, Minnesota, Lease Revenue Bonds, Duluth Public Schools Academy, Series 2010A, 5.875%, 11/01/40   11/18 at 102.00 BB+ 2,045,860
1,840   Independent School District 621, Mounds View, Minnesota, General Obligation Bonds, School Building Series 2018A, 4.000%, 2/01/41   2/27 at 100.00 AAA 1,915,366
6,375   Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.625%, 11/15/28 (Pre-refunded 11/15/18)   11/18 at 100.00 A+ (4) 6,472,346
1,160   Minneapolis-Saint Paul Metropolitan Council, Minnesota, General Obligation Wastewater Revenue Bonds, Series 2018C, 3.000%, 3/01/31   3/27 at 100.00 AAA 1,131,406
3,000   Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Senior Lien Series 2010A, 5.000%, 1/01/35   1/20 at 100.00 AA- 3,130,380
2,295   Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Senior Lien Series 2016C, 5.000%, 1/01/46   1/27 at 100.00 AA- 2,615,703
    Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Lien Series 2016D:        
470   5.000%, 1/01/32 (Alternative Minimum Tax)   1/27 at 100.00 A+ 531,960
450   5.000%, 1/01/35 (Alternative Minimum Tax)   1/27 at 100.00 A+ 505,089
580   5.000%, 1/01/37 (Alternative Minimum Tax)   1/27 at 100.00 A+ 647,843
750   5.000%, 1/01/41 (Alternative Minimum Tax)   1/27 at 100.00 A+ 834,247
    Minnesota Higher Education Facilities Authority, Revenue Bonds, Carleton College, Refunding Series 2017:        
1,580   4.000%, 3/01/42   3/27 at 100.00 Aa2 1,640,467
3,850   4.000%, 3/01/47   3/27 at 100.00 Aa2 3,968,464
    Minnesota Municipal Power Agency, Electric Revenue Bonds, Refunding Series 2014A:        
700   5.000%, 10/01/34   10/24 at 100.00 A1 791,679
500   5.000%, 10/01/35   10/24 at 100.00 A1 564,575
15   Minnesota State, General Obligation Bonds, Refunding Various Purpose Series 2010D, 5.000%, 8/01/18 (ETM)   No Opt. Call N/R (4) 15,000
29


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Minnesota (continued)        
$ 2,000   Saint Louis Park, Minnesota, Health Care Facilities Revenue Bonds, Park Nicollet Health Services, Refunding Series 2009, 5.750%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 Aaa (4) $2,076,460
1,520   Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Community of Peace Academy Project, Refunding Series 2015A, 5.000%, 12/01/50   12/24 at 100.00 BBB- 1,547,117
    Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Hmong College Prep Academy Project, Series 2016A:        
2,205   5.500%, 9/01/36   9/26 at 100.00 BB+ 2,323,894
2,500   5.750%, 9/01/46   9/26 at 100.00 BB+ 2,650,550
    Saint Paul Housing and Redevelopment Authority Minnesota, Senior Housing and Health Care Revenue Bonds, Episcopal Homes Project, Series 2013:        
500   5.000%, 5/01/33   5/23 at 100.00 N/R 507,770
1,000   5.125%, 5/01/48   5/23 at 100.00 N/R 1,003,470
400   Saint Paul Housing and Redevelopment Authority, Minnesota, Upper Landing Project Tax Increment Revenue Refunding Bonds, Series 2012, 5.000%, 9/01/26   3/20 at 102.00 N/R 416,964
750   St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A, 5.000%, 11/15/29 (Pre-refunded 11/15/25)   11/25 at 100.00 A+ (4) 882,900
3,855   West Saint Paul-Mendota Heights-Eagan Independent School District 197, Dakota County, Minnesota, General Obligation Bonds, School Buidling Series 2018A, 4.000%, 2/01/41   2/27 at 100.00 AAA 3,981,290
2,000   Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Series 2014A, 5.000%, 1/01/46   1/24 at 100.00 Aa3 2,221,680
51,105   Total Minnesota       53,630,478
    Mississippi – 0.9% (0.6% of Total Investments)        
620   Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22   10/18 at 100.00 Baa3 621,389
    Mississippi Development Bank, Special Obligation Bonds, City of Jackson General Obligation Street Resurfacing Project, Series 2009:        
1,325   5.500%, 1/01/23 (Pre-refunded 1/01/19)   1/19 at 100.00 Baa2 (4) 1,347,538
850   5.800%, 1/01/24 (Pre-refunded 1/01/19)   1/19 at 100.00 Baa2 (4) 865,334
    Mississippi Hospital Equipment and Facilities Authority, Revenue Bonds, Baptist Memorial Healthcare, Series 2016A:        
7,500   5.000%, 9/01/36   9/26 at 100.00 BBB+ 8,093,850
15,500   5.000%, 9/01/46   9/26 at 100.00 BBB+ 16,571,825
25,795   Total Mississippi       27,499,936
    Missouri – 3.4% (2.1% of Total Investments)        
1,000   Boone County, Missouri, Hospital Revenue Bonds, Boone Hospital Center, Refunding Series 2016, 5.000%, 8/01/28   8/26 at 100.00 Baa2 1,081,370
2,000   Bridgeton Industrial Development Authority, Missouri, Senior Housing Revenue Bonds, The Sarah Community Project, Refunding Series 2016, 3.625%, 5/01/30   5/25 at 100.00 N/R 1,915,640
500   Curators of the University of Missouri, System Facilities Revenue Bonds, Refunding Series 2014A, 4.000%, 11/01/33   11/24 at 100.00 AA+ 526,815
30


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Missouri (continued)        
$ 2,000   Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36   10/19 at 100.00 A- $2,054,060
400   Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding & Improvement Series 2016, 5.000%, 4/01/46, 144A   4/26 at 100.00 N/R 407,108
    Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1:        
7,000   0.000%, 4/15/27  –  AMBAC Insured   No Opt. Call A1 5,269,390
5,000   0.000%, 4/15/28  –  AMBAC Insured   No Opt. Call A1 3,622,200
5,000   0.000%, 4/15/29  –  AMBAC Insured   No Opt. Call A1 3,481,800
4,470   Kansas City, Missouri, Sanitary Sewer System Revenue Bonds, Improvement Series 2018A, 4.000%, 1/01/42   1/28 at 100.00 AA 4,666,099
940   Missouri Development Finance Board, Infrastructure Facilities Revenue Bonds, Branson Landing Project, Series 2005A, 6.000%, 6/01/20   No Opt. Call A3 979,170
1,000   Missouri Health and Education Facilities Authority, Health Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series 2016, 5.000%, 11/15/34   5/26 at 100.00 A+ 1,120,940
3,080   Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2013, 5.500%, 5/01/43   5/23 at 100.00 BBB 3,302,530
1,260   Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, University of Central Missouri, Series 2013C-2, 5.000%, 10/01/34   10/23 at 100.00 A+ 1,398,764
    Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A:        
1,045   5.000%, 11/15/44   11/23 at 100.00 A2 1,118,432
11,090   5.000%, 11/15/48   11/23 at 100.00 A2 11,830,701
8,525   Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mercy Health, Series 2017C, 4.000%, 11/15/47   11/27 at 100.00 AA- 8,677,001
    Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, SSM Health Care, Series 2018A:        
2,000   4.000%, 6/01/48   6/28 at 100.00 A+ 2,024,280
3,500   5.000%, 6/01/48   6/28 at 100.00 A+ 3,887,170
    Missouri Health and Educational Facilities Authority, Revenue Bonds, Children's Mercy Hospital, Series 2017A:        
8,960   4.000%, 5/15/42   5/25 at 102.00 A+ 9,092,429
10,290   4.000%, 5/15/48   5/25 at 102.00 A+ 10,395,987
10,645   Missouri Health and Educational Facilities Authority, Revenue Bonds, Lutheran Senior Services Projects, Series 2016B, 5.000%, 2/01/46   2/26 at 100.00 BBB 11,478,823
400   Missouri Health and Educational Facilities Authority, Revenue Bonds, Maryville University of St. Louis Project, Series 2015, 3.500%, 6/15/30   6/22 at 100.00 Baa2 389,356
    Missouri Health and Educational Facilities Authority, Revenue Bonds, Saint Louis University, Series 2017A:        
725   4.000%, 10/01/36   4/27 at 100.00 A1 752,963
3,510   5.000%, 10/01/42   4/27 at 100.00 A1 3,942,256
31


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Missouri (continued)        
$ 3,775   Missouri Health and Educational Facilities Authority, Revenue Bonds, Webster University, Series 2011, 5.000%, 4/01/26 (Pre-refunded 4/01/21)   4/21 at 100.00 A2 (4) $4,084,663
2,000   Missouri Joint Municipal Electric Utility Commission, Power Supply System Revenue Bonds, MoPEP Facilities, Series 2018, 5.000%, 12/01/43   6/27 at 100.00 A2 2,234,160
1,000   North Central Missouri Regional Water Commission, Waterworks System Revenue Bonds, Series 2006, 5.000%, 1/01/37   1/19 at 100.00 N/R 1,000,060
2,000   Saint Charles County Public Water Supply District 2, Missouri, Certificates of Participation, Series 2015, 4.125%, 12/01/38   12/21 at 100.00 AA+ 2,035,120
490   Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2012, 4.250%, 7/01/29  –  FGIC Insured (Alternative Minimum Tax)   7/22 at 100.00 A- 507,498
575   St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Chesterfield, Series 2012, 5.000%, 9/01/42 (Pre-refunded 9/01/22)   9/22 at 100.00 N/R (4) 642,499
375   St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A, 5.875%, 9/01/43   9/23 at 100.00 BBB+ 423,559
104,555   Total Missouri       104,342,843
    Montana – 0.1% (0.1% of Total Investments)        
3,315   Montana Facilities Finance Authority, Montana, Health Facilities Reveue Bonds, Bozeman Deaconess Health Services Obligated Group, Series 2018, 5.000%, 6/01/48   6/28 at 100.00 A 3,704,943
    Nebraska – 0.2% (0.1% of Total Investments)        
2,300   Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/32   9/22 at 100.00 BBB+ 2,517,028
    Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015:        
1,635   4.125%, 11/01/36   11/25 at 100.00 A- 1,672,474
470   5.000%, 11/01/45   11/25 at 100.00 A- 512,559
4,405   Total Nebraska       4,702,061
    Nevada – 3.5% (2.2% of Total Investments)        
39,625   Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42   1/20 at 100.00 A+ 41,920,080
2,500   Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Refunding Series 2015C, 5.000%, 7/01/26   No Opt. Call A+ 2,934,425
    Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A:        
5,210   5.250%, 7/01/39  –  AGM Insured   1/20 at 100.00 Aa3 5,464,248
9,725   5.250%, 7/01/42   1/20 at 100.00 A+ 10,195,398
5,800   Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 6/15/30 (Pre-refunded 6/15/19)   6/19 at 100.00 BBB+ (4) 6,119,580
    Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015:        
9,000   5.000%, 6/01/32   12/24 at 100.00 AA+ 10,264,230
7,835   5.000%, 6/01/39   12/24 at 100.00 AA+ 8,842,816
2,600   Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water Series 2012B, 5.000%, 6/01/42   6/22 at 100.00 AA+ 2,831,972
32


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Nevada (continued)        
$ 4,185   Nevada System of Higher Education, Community College Revenue Bonds, Series 2017, 4.000%, 7/01/47   7/27 at 100.00 AA- $4,254,011
10,000   North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36  –  NPFG Insured   10/18 at 100.00 BBB 10,007,200
1,145   North Las Vegas, Nevada, General Obligation Bonds, Wastewater Reclamation System Series 2006, 5.000%, 10/01/25  –  NPFG Insured   10/18 at 100.00 BB 1,146,420
2,050   Washoe County, Nevada, General Obligation Bonds, Reno-Sparks Convention & Visitors Authority, Refunding Series 2011, 5.000%, 7/01/32   7/21 at 100.00 AA 2,220,785
99,675   Total Nevada       106,201,165
    New Hampshire – 0.5% (0.3% of Total Investments)        
5,000   New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39 (Pre-refunded 10/01/19)   10/19 at 100.00 BBB (4) 5,266,300
3,500   New Hampshire Health and Education Facilities Authority, Revenue Bonds, Catholic Medical Center, Series 2012, 4.000%, 7/01/32   7/22 at 100.00 Baa1 3,580,150
1,110   New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Tender Option Bond Trust 2016-XL0025, 12.530%, 6/01/39 (Pre-refunded 6/01/19), 144A (IF) (5)   6/19 at 100.00 AA+ (4) 1,214,551
4,000   New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series 2018A, 5.000%, 8/01/35   2/28 at 100.00 A 4,501,920
13,610   Total New Hampshire       14,562,921
    New Jersey – 4.7% (2.9% of Total Investments)        
905   Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue Bonds, Cooper Health System Obligated Group Issue, Series 2013A, 5.750%, 2/15/42   2/23 at 100.00 BBB+ 985,355
    New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013:        
1,965   5.000%, 1/01/31  –  AGM Insured (Alternative Minimum Tax)   1/24 at 100.00 BBB 2,173,447
2,805   5.125%, 1/01/39  –  AGM Insured (Alternative Minimum Tax)   1/24 at 100.00 AA 3,078,684
2,685   5.125%, 7/01/42  –  AGM Insured (Alternative Minimum Tax)   1/24 at 100.00 BBB 2,942,787
    New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Series 2017A:        
5,005   5.000%, 7/01/28  –  BAM Insured   7/27 at 100.00 Baa2 5,711,255
4,275   3.125%, 7/01/31  –  BAM Insured   7/27 at 100.00 Baa2 4,135,464
2,000   New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB, 5.500%, 6/15/31   12/26 at 100.00 BBB+ 2,280,160
6,770   New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1, 5.500%, 9/01/27  –  FGIC Insured   No Opt. Call A- 7,936,065
2,825   New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2014UU, 5.000%, 6/15/30   6/24 at 100.00 BBB+ 3,057,300
555   New Jersey Economic Development Authority, Student Housing Revenue Bonds, Provident Group-Montclair Properties LLC, Montclair State University Student Housing Project, Series 2010A, 5.750%, 6/01/31 (Pre-refunded 6/01/20)   6/20 at 100.00 Aaa (4) 596,375
6,030   New Jersey Economic Development Authority, Sublease Revenue Bonds, New Jersey Transit Corporation Projects, Refunding Series 2017B, 5.000%, 11/01/25   No Opt. Call BBB+ 6,755,831
33


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New Jersey (continued)        
$ 900   New Jersey Educational Facilities Authority, Revenue Bonds, University of Medicine and Dentistry of New Jersey, Refunding Series 2009B, 7.500%, 12/01/32 (Pre-refunded 6/01/19)   6/19 at 100.00 N/R (4) $944,919
1,480   New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37   10/18 at 100.00 BB+ 1,483,685
8,415   New Jersey Health Care Facilities Financing Authority, Revenue Bonds, RWJ Barnabas Health Obligated Group, Refunding Series 2016A, 5.000%, 7/01/43   7/26 at 100.00 A+ 9,410,242
2,000   New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2011A, 5.625%, 7/01/32 (Pre-refunded 7/01/21)   7/21 at 100.00 N/R (4) 2,214,980
1,235   New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A, 5.000%, 7/01/46  –  AGM Insured   7/25 at 100.00 BB- 1,355,808
665   New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Tender Option Bond Trust 2016-XG0001, 17.468%, 6/01/30, 144A (IF) (5)   6/19 at 100.00 BBB+ 744,175
    New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-1:        
2,020   5.000%, 6/15/28   6/26 at 100.00 Baa1 2,263,652
3,340   5.000%, 6/15/29   6/26 at 100.00 Baa1 3,728,108
1,000   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/26   No Opt. Call BBB+ 726,160
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C:        
21,120   0.000%, 12/15/28  –  AMBAC Insured   No Opt. Call BBB+ 14,078,170
10,000   0.000%, 12/15/32  –  AGM Insured   No Opt. Call AA 5,652,300
20,000   0.000%, 12/15/33  –  AGM Insured   No Opt. Call A- 10,750,600
25,000   0.000%, 12/15/35  –  AMBAC Insured   No Opt. Call BBB+ 11,659,250
30,000   0.000%, 12/15/36  –  AMBAC Insured   No Opt. Call BBB+ 13,199,100
7,330   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.500%, 6/15/31   6/21 at 100.00 BBB+ 7,759,465
1,000   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012A, 5.000%, 6/15/42   6/22 at 100.00 A- 1,039,840
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:        
1,690   5.250%, 6/15/33   6/25 at 100.00 BBB+ 1,852,916
2,840   5.000%, 6/15/45   6/25 at 100.00 BBB+ 3,015,995
700   New Jersey Turnpike Authority, Revenue Bonds, Series 2009E, 5.250%, 1/01/40 (Pre-refunded 1/01/19)   1/19 at 100.00 A2 (4) 711,333
2,650   New Jersey Turnpike Authority, Revenue Bonds, Series 2017B, 4.000%, 1/01/35   1/28 at 100.00 A2 2,801,209
1,315   New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057, 14.129%, 1/01/43, 144A (IF) (5)   7/22 at 100.00 A2 1,872,376
570   Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43   5/23 at 100.00 A+ 632,312
3,215   Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A, 5.000%, 6/01/36   6/28 at 100.00 A- 3,598,871
34


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New Jersey (continued)        
$ 380   Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46   6/28 at 100.00 BBB $ 408,059
184,685   Total New Jersey       141,556,248
    New Mexico – 0.5% (0.3% of Total Investments)        
1,295   Farmington, New Mexico, Hospital Revenue Bonds, San Juan Regional Medical Center Inc., Series 2004A, 5.125%, 6/01/19   10/18 at 100.00 A3 1,298,600
2,000   Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan Project, Refunding Series 2010D, 5.900%, 6/01/40   6/20 at 100.00 Baa2 2,124,920
3,370   New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2017A, 5.000%, 8/01/46   11/27 at 100.00 Aa3 3,774,703
5,585   Santa Fe County, New Mexico, Correctional System Gross Receipts Tax Revenue Bonds, Series 1997, 6.000%, 2/01/27  –  AGM Insured   No Opt. Call A2 6,481,449
12,250   Total New Mexico       13,679,672
    New York – 7.3% (4.5% of Total Investments)        
    Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:        
4,605   6.000%, 7/15/30 (Pre-refunded 1/15/20)   1/20 at 100.00 AA+ (4) 4,902,345
3,065   6.250%, 7/15/40 (Pre-refunded 1/15/20)   1/20 at 100.00 AA+ (4) 3,273,880
6,600   0.000%, 7/15/44   No Opt. Call BBB- 2,238,456
490   Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015, 5.250%, 7/01/35   7/25 at 100.00 BBB 539,397
3,125   Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2013A, 5.000%, 7/01/44   7/23 at 100.00 A- 3,408,500
    Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2015A:        
1,680   4.125%, 5/01/42   5/25 at 100.00 A- 1,727,275
3,195   5.000%, 5/01/43   5/25 at 100.00 A- 3,494,691
600   Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 5.000%, 12/01/34   6/27 at 100.00 BBB- 666,390
5,325   Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2011C, 5.000%, 3/15/41   3/21 at 100.00 Aa1 5,693,916
    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:        
135   5.250%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 (4) 146,916
2,965   5.250%, 2/15/47   2/21 at 100.00 AA- 3,184,558
990   5.750%, 2/15/47   2/21 at 100.00 AA- 1,077,754
1,610   5.750%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 (4) 1,772,014
7,500   Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35   No Opt. Call A 9,237,300
35


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New York (continued)        
    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A:        
$ 1,155   4.000%, 9/01/39  –  AGM Insured   9/24 at 100.00 A- $1,190,193
3,000   5.000%, 9/01/39   9/24 at 100.00 A- 3,338,220
860   5.000%, 9/01/44   9/24 at 100.00 A- 954,935
4,980   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2017, 5.000%, 9/01/42   9/27 at 100.00 A- 5,647,818
10,000   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding Series 2012A, 0.000%, 11/15/32   No Opt. Call AA 6,015,000
1,000   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2009B, 5.000%, 11/15/34 (Pre-refunded 11/15/19)   11/19 at 100.00 AA (4) 1,045,050
    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2011A:        
285   5.000%, 11/15/41 (Pre-refunded 11/15/21)   11/21 at 100.00 N/R (4) 314,831
465   5.000%, 11/15/41   11/21 at 100.00 A+ 513,672
5,000   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013A, 5.000%, 11/15/38   5/23 at 100.00 A+ 5,468,200
    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007:        
500   5.750%, 10/01/37 (7)   10/18 at 100.00 N/R 265,000
1,000   5.875%, 10/01/46 (7)   10/37 at 100.00 N/R 530,000
4,755   New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49  –  AGC Insured   3/19 at 100.00 A3 4,901,834
3,400   New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2011 Series EE, 5.375%, 6/15/43   12/20 at 100.00 AA+ 3,674,040
5,900   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2014 Series BB, 5.000%, 6/15/46   6/23 at 100.00 AA+ 6,495,310
500   New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Tender Option Bond Trust 2015-XF0097, 15.121%, 6/15/39, 144A (IF)   6/19 at 100.00 AA+ 555,800
5,000   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series I, 5.000%, 5/01/38   5/23 at 100.00 Aa1 5,530,100
2,000   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series A-1, 5.000%, 5/01/40   5/26 at 100.00 Aa1 2,258,360
3,760   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series E-1, 5.000%, 2/01/43   2/27 at 100.00 Aa1 4,260,042
5,000   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2018 Series C-2, 5.000%, 5/01/38   5/28 at 100.00 Aa1 5,761,850
2,060   New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41   12/26 at 100.00 AA 2,346,958
5   New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/24   10/18 at 100.00 AA 5,015
2,000   New York Convention Center Development Corporation, New York, Revenue Bonds, Hotel Unit Fee Secured, Refunding Series 2015, 5.000%, 11/15/45   11/25 at 100.00 Aa3 2,247,420
36


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New York (continued)        
$ 540   New York Counties Tobacco Trust I, Tobacco Settlement Pass-Through Bonds, Series 2000B, 6.500%, 6/01/35   10/18 at 100.00 Baa1 $540,297
25,170   New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A   11/24 at 100.00 N/R 26,598,398
    New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011:        
1,560   5.000%, 11/15/44   11/21 at 100.00 A 1,686,344
4,350   5.750%, 11/15/51   11/21 at 100.00 A+ 4,845,596
5,260   New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016, 5.000%, 8/01/31 (Alternative Minimum Tax)   8/21 at 100.00 BB- 5,510,113
3,050   New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018, 5.000%, 1/01/34 (Alternative Minimum Tax)   1/28 at 100.00 Baa3 3,406,362
    New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A:        
2,000   4.000%, 7/01/35  –  AGM Insured (Alternative Minimum Tax)   7/24 at 100.00 BBB 2,035,820
10,800   5.000%, 7/01/41 (Alternative Minimum Tax)   7/24 at 100.00 BBB 11,598,660
10,000   5.000%, 7/01/46 (Alternative Minimum Tax)   7/24 at 100.00 BBB 10,723,000
19,560   5.250%, 1/01/50 (Alternative Minimum Tax)   7/24 at 100.00 Baa3 21,210,473
500   Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph's Hospital Health Center Project, Series 2014A, 5.125%, 7/01/31 (Pre-refunded 7/01/19)   7/19 at 100.00 N/R (4) 516,800
1,310   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Eighth Series 2013, 5.000%, 12/01/43 (Alternative Minimum Tax)   12/23 at 100.00 AA- 1,436,101
4,320   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/38   12/23 at 100.00 AA- 4,841,986
2,500   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Seventh Series 2018, 5.000%, 9/15/48 (Alternative Minimum Tax)   3/28 at 100.00 AA- 2,806,125
3,045   Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42   12/20 at 100.00 BBB 3,323,100
    Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eigth Series 2010:        
5,000   6.500%, 12/01/28   10/18 at 100.00 BBB 5,253,950
590   5.500%, 12/01/31   12/20 at 100.00 BBB 636,356
1,670   6.000%, 12/01/36   12/20 at 100.00 BBB 1,823,323
1,170   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At Southold, Inc. Project, Refunding Series 2010, 5.875%, 12/01/30   12/20 at 100.00 BBB- 1,256,603
    Syracuse Industrial Development Authority, New York, PILOT Revenue Bonds, Carousel Center Project, Refunding Series 2016A:        
3,800   5.000%, 1/01/33 (Alternative Minimum Tax)   1/26 at 100.00 Baa1 4,102,290
2,500   5.000%, 1/01/35 (Alternative Minimum Tax)   1/26 at 100.00 Baa1 2,685,475
213,205   Total New York       221,520,212
37


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    North Carolina – 1.5% (0.9% of Total Investments)        
$ 12,250   Fayetteville State University, North Carolina, General Revenue Bonds, Series 2013A, 5.125%, 4/01/43   4/23 at 100.00 A- $13,357,890
    North Carolina Department of Transportation, Private Activity Revenue Bonds, I-77 Hot Lanes Project, Series 2015:        
3,555   5.000%, 12/31/37 (Alternative Minimum Tax)   6/25 at 100.00 BBB- 3,850,243
3,480   5.000%, 6/30/54 (Alternative Minimum Tax)   6/25 at 100.00 BBB- 3,722,869
10,300   North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Refunding Series 1993B, 6.000%, 1/01/22  –  CAPMAC Insured (ETM) (UB) (5)   No Opt. Call Baa2 (4) 11,645,592
1,570   North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Southminster Project, Refunding Series 2016, 5.000%, 10/01/31   10/24 at 102.00 N/R 1,703,827
    North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Refunding Series 2012A:        
5,000   5.000%, 10/01/27   10/22 at 100.00 A2 5,556,100
3,400   5.000%, 10/01/31   10/22 at 100.00 A2 3,752,444
500   North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A, 5.000%, 1/01/32   1/26 at 100.00 A 568,510
1,900   North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.750%, 1/01/39 (Pre-refunded 1/01/19)  –  AGC Insured   1/19 at 100.00 BBB- (4) 1,934,276
41,955   Total North Carolina       46,091,751
    North Dakota – 0.3% (0.2% of Total Investments)        
675   Burleigh County, North Dakota, Health Care Revenue Bonds, Saint Alexius Medical Center Project, Refunding Series 2012A, 5.000%, 7/01/38 (Pre-refunded 7/01/22)   7/22 at 100.00 N/R (4) 749,783
6,100   Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31   11/21 at 100.00 A+ 6,935,700
1,875   Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012, 5.000%, 12/01/32   12/21 at 100.00 Baa1 1,980,132
700   Grand Forks, North Dakota, Senior Housing & Nursing Facilities Revenue Bonds, Valley Homes and Services Obligated Group, Series 2017, 5.000%, 12/01/36   12/26 at 100.00 N/R 702,317
9,350   Total North Dakota       10,367,932
    Ohio – 8.4% (5.2% of Total Investments)        
6,250   Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Facilities Revenue Bonds, Summa Health System, Refunding & Improvement Series 2016, 5.250%, 11/15/46   11/26 at 100.00 Baa2 6,809,812
6,655   Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy Health, Series 2017A, 4.000%, 8/01/38   2/28 at 100.00 A2 6,776,254
1,340   Bowling Green State University, Ohio, General Receipts Bonds, Series 2017B, 5.000%, 6/01/45   6/27 at 100.00 A+ 1,493,644
38


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Ohio (continued)        
    Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:        
$ 12,835   5.125%, 6/01/24   9/18 at 100.00 Caa1 $12,818,956
4,930   5.375%, 6/01/24   9/18 at 100.00 Caa1 4,930,099
22,830   5.875%, 6/01/30   9/18 at 100.00 Caa1 22,944,150
11,785   5.750%, 6/01/34   10/18 at 100.00 Caa1 11,814,580
12,645   6.000%, 6/01/42   9/18 at 100.00 B- 12,645,126
18,640   5.875%, 6/01/47   9/18 at 100.00 B- 18,800,490
2,355   6.500%, 6/01/47   9/18 at 100.00 B- 2,425,626
24,910   Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37   6/22 at 100.00 Caa1 26,092,229
    Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Refunding Series 2017:        
3,940   4.000%, 11/15/34   11/27 at 100.00 A 4,022,661
3,000   4.000%, 11/15/35   11/27 at 100.00 A 3,046,440
    Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010:        
7,125   5.250%, 11/01/29 (Pre-refunded 11/01/20)   11/20 at 100.00 A (4) 7,671,986
1,665   5.500%, 11/01/40 (Pre-refunded 11/01/20)   11/20 at 100.00 N/R (4) 1,803,878
3,335   5.500%, 11/01/40 (Pre-refunded 11/01/20)   11/20 at 100.00 A (4) 3,609,304
1,000   5.750%, 11/01/40 (Pre-refunded 11/01/20)   11/20 at 100.00 A (4) 1,087,740
4,795   Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013, 5.000%, 6/15/43   6/23 at 100.00 Baa2 5,007,179
760   Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26   7/20 at 100.00 BBB 796,092
5,000   Hamilton County, Ohio, Hospital Facilities Revenue Bonds, TriHealth, Inc. Obligated Group Project, Series 2017A, 5.000%, 8/15/42   8/27 at 100.00 A+ 5,523,600
    JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 2013A:        
1,000   5.000%, 1/01/38   1/23 at 100.00 Aa3 1,098,140
16,820   5.000%, 1/01/38 (UB) (5)   1/23 at 100.00 Aa3 18,470,715
    JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender Option Bond Trust 2016-XG0052:        
265   15.086%, 1/01/38 (IF),144A (5)   1/23 at 100.00 Aa3 368,228
625   15.191%, 1/01/38 (IF),144A (5)   1/23 at 100.00 Aa3 870,338
975   15.191%, 1/01/38 (IF),144A (5)   1/23 at 100.00 Aa3 1,357,727
1,315   15.191%, 1/01/38 (IF),144A (5)   1/23 at 100.00 Aa3 1,831,190
8,360   Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2015, 5.000%, 8/15/45   8/25 at 100.00 Baa1 9,022,363
7,495   Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21)   11/21 at 100.00 A+ (4) 8,484,565
1,000   Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center Project, Refunding Series 2011, 5.125%, 8/01/31   8/21 at 100.00 A2 1,087,120
39


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Ohio (continued)        
$ 2,545   Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A, 5.000%, 5/01/30   10/18 at 100.00 BBB+ $2,573,682
2,000   Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/33   2/23 at 100.00 Ba2 2,107,640
3,000   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009D, 4.250%, 8/01/29 (Mandatory Put 9/15/21) (7)   No Opt. Call N/R 2,895,000
1,000   Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Refunding Series 2011A, 5.375%, 12/01/30   12/20 at 100.00 A2 1,077,640
4,350   Ohio Higher Educational Facility Commission, Revenue Bonds, University of Dayton, Series 2015A, 5.000%, 12/01/44   6/25 at 100.00 A2 4,829,631
    Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1:        
1,500   5.250%, 2/15/39   2/23 at 100.00 A+ 1,662,255
10,530   5.000%, 2/15/48   2/23 at 100.00 A+ 11,454,113
3,710   Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien Convertible Series 2013A-3, 0.000%, 2/15/36 (6)   2/31 at 100.00 A+ 3,610,646
    Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien Series 2018A:        
3,375   4.000%, 2/15/38   2/28 at 100.00 A+ 3,530,318
16,325   5.000%, 2/15/43   2/28 at 100.00 A+ 18,593,849
241,985   Total Ohio       255,045,006
    Oklahoma – 0.4% (0.2% of Total Investments)        
1,925   Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26, 144A   8/21 at 100.00 N/R 2,233,270
3,000   Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2013A, 5.625%, 6/01/43  –  BAM Insured (Alternative Minimum Tax)   6/23 at 100.00 Baa1 3,344,400
4,985   Tulsa Airports Improvement Trust, Oklahoma, General Airport Revenue Bonds, Series 2015A, 5.000%, 6/01/45  –  BAM Insured (Alternative Minimum Tax)   6/24 at 100.00 Baa1 5,340,730
1,000   Tulsa County Industrial Authority, Oklahoma, Senior Living Community Revenue Bonds, Montereau, Inc Project, Refunding Series 2017, 5.250%, 11/15/37   11/25 at 102.00 BBB- 1,107,350
10,910   Total Oklahoma       12,025,750
    Oregon – 2.1% (1.3% of Total Investments)        
2,435   Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Convertible Deferred Interest Series 2017D, 0.000%, 6/15/36   6/27 at 100.00 AA+ 2,815,809
4,875   Deschutes County Hospital Facility Authority, Oregon, Hospital Revenue Bonds, Saint Charles Health System, Inc., Series 2016A, 5.000%, 1/01/48   1/26 at 100.00 A2 5,298,979
1,750   Metro, Oregon, Dedicated Tax Revenue Bonds, Oregon Convention Center Hotel, Series 2017, 5.000%, 6/15/47   6/27 at 100.00 Aa3 1,979,950
5,940   Oregon Facilities Authority, Revenue Bonds, Legacy Health Project, Refunding Series 2016A, 5.000%, 6/01/46   6/26 at 100.00 A1 6,592,628
1,500   Oregon Health and Science University, Revenue Bonds, Refunding Series 2016B, 5.000%, 7/01/39   7/26 at 100.00 AA- 1,694,115
40


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Oregon (continued)        
    Port of Portland, Oregon, International Airport Revenue Bonds, Series 2017-24B:        
$ 4,000   5.000%, 7/01/36 (Alternative Minimum Tax)   1/27 at 100.00 AA- $4,492,800
1,000   5.000%, 7/01/37 (Alternative Minimum Tax)   1/27 at 100.00 AA- 1,120,080
9,645   5.000%, 7/01/42 (Alternative Minimum Tax)   1/27 at 100.00 AA- 10,758,226
15,500   5.000%, 7/01/47 (Alternative Minimum Tax)   1/27 at 100.00 AA- 17,229,180
9,500   Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Hospital Project, Refunding Series 2016A, 5.000%, 5/15/46   5/26 at 100.00 A+ 10,449,810
56,145   Total Oregon       62,431,577
    Pennsylvania – 5.3% (3.3% of Total Investments)        
1,100   Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009, 6.750%, 11/01/24   11/19 at 100.00 B 1,125,025
2,000   Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.375%, 8/15/29   8/19 at 100.00 A+ 2,076,840
    Allegheny County, Pennsylvania, General Obligation Bonds, Series 2011C-65:        
1,960   5.375%, 5/01/31   5/21 at 100.00 AA- 2,132,068
2,570   5.375%, 5/01/31 (Pre-refunded 5/01/21)   5/21 at 100.00 N/R (4) 2,812,223
    Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018:        
345   5.000%, 6/01/34   6/28 at 100.00 A 387,104
550   5.000%, 6/01/35   6/28 at 100.00 A 614,697
    Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009:        
100   6.125%, 1/01/29   1/19 at 100.00 BBB+ 101,463
900   6.125%, 1/01/29 (Pre-refunded 1/01/19)   1/19 at 100.00 N/R (4) 917,433
1,000   Delaware County Authority, Pennsylvania, Revenue Bonds, Neumann College, Series 2008, 6.000%, 10/01/30 (Pre-refunded 10/01/18)   10/18 at 100.00 BBB (4) 1,007,510
    Delaware River Joint Toll Bridge Commission, New Jersey and Pennsylvania, Bridge System Revenue Bonds, Series 2017:        
3,500   5.000%, 7/01/37   7/27 at 100.00 A 4,023,180
8,385   5.000%, 7/01/42   7/27 at 100.00 A 9,589,170
    Erie Water Authority, Erie County, Pennsylvania, Water Revenue Bonds, Series 2008:        
195   5.000%, 12/01/43 (Pre-refunded 12/01/18)  –  AGM Insured   12/18 at 100.00 A2 (4) 197,342
315   5.000%, 12/01/43  –  AGM Insured   12/18 at 100.00 A2 318,317
320   5.000%, 12/01/43 (Pre-refunded 12/01/18)  –  AGM Insured   12/18 at 100.00 A2 (4) 323,734
1,670   5.000%, 12/01/43 (Pre-refunded 12/01/18)  –  AGM Insured   12/18 at 100.00 A2 (4) 1,689,489
    Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Capital Appreciation Series 2013B:        
5,400   0.000%, 12/01/33   No Opt. Call A 2,902,878
11,000   0.000%, 12/01/38   No Opt. Call A 4,613,400
5,375   Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47   12/23 at 100.00 A 5,925,239
41


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Pennsylvania (continued)        
    Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2018A:        
$ 2,400   5.000%, 9/01/35   9/28 at 100.00 A2 $2,716,584
5,210   5.000%, 9/01/43   9/28 at 100.00 A2 5,826,603
1,665   Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 (Pre-refunded 8/01/20)   8/20 at 100.00 N/R (4) 1,787,045
3,430   Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A, 5.250%, 1/15/45   1/25 at 100.00 BB+ 3,659,604
2,000   Montgomery County Industrial Development Authority, Pennsylvania, Revenue Bonds, ACTS Retirement-Life Communities, Inc. Obligated Group, Series 2016, 5.000%, 11/15/36   11/26 at 100.00 A- 2,211,040
235   Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)   11/24 at 100.00 N/R 248,181
400   Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 6.000%, 7/01/43 (Pre-refunded 7/01/20)   7/20 at 100.00 N/R (4) 431,696
    Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2010A1&2:        
940   5.500%, 12/01/34 (Pre-refunded 12/01/20)   12/20 at 100.00 N/R (4) 1,020,802
4,310   5.500%, 12/01/34 (Pre-refunded 12/01/20)   12/20 at 100.00 A2 (4) 4,680,488
16,750   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 6.375%, 12/01/38   12/27 at 100.00 A3 20,629,300
4,305   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45   6/25 at 100.00 A+ 4,740,795
2,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Lien Series 2014A-1, 5.000%, 12/01/38   12/24 at 100.00 A3 2,195,120
14,500   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33  –  AGM Insured   6/26 at 100.00 A2 17,754,960
6,250   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2015B-1, 5.000%, 12/01/45   12/25 at 100.00 A3 6,792,250
5,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2016A-1, 5.000%, 12/01/46   12/25 at 100.00 A3 5,427,100
1,595   Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40 (Pre-refunded 5/15/20)   5/20 at 100.00 N/R (4) 1,687,462
    Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B:        
4,650   5.000%, 7/01/42 (Alternative Minimum Tax)   7/27 at 100.00 A 5,176,240
16,700   5.000%, 7/01/47 (Alternative Minimum Tax)   7/27 at 100.00 A 18,522,471
1,425   Philadelphia, Pennsylvania, General Obligation Bonds, Refunding Series 2011, 6.500%, 8/01/41 (Pre-refunded 8/01/20)   8/20 at 100.00 A- (4) 1,560,831
42


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Pennsylvania (continued)        
$ 2,350   Union County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Evangelical Community Hospital Project, Refunding & Improvement Series 2011, 5.500%, 8/01/20 (ETM)   No Opt. Call A- (4) $2,525,592
10,000   Westmoreland County Municipal Authority, Pennsylvania, Municipal Service Revenue Bonds, Series 2016, 5.000%, 8/15/38  –  BAM Insured   8/25 at 100.00 AA 11,152,600
152,800   Total Pennsylvania       161,503,876
    Puerto Rico – 0.3% (0.2% of Total Investments)        
4,300   Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003, 4.500%, 12/01/23   10/18 at 100.00 A2 4,462,712
800   Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Refunding Series 2002D, 5.450%, 7/01/31  –  AMBAC Insured   10/18 at 100.00 Ca 800,816
14,000   Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/42  –  FGIC Insured   No Opt. Call D 3,943,520
19,100   Total Puerto Rico       9,207,048
    Rhode Island – 0.5% (0.3% of Total Investments)        
7,230   Rhode Island Health and Educational Building Corporation, Higher Education Facility Revenue Bonds, Brown University, Series 2013, 5.000%, 9/01/43   9/23 at 100.00 AA+ 8,010,768
3,320   Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Refunding Series 2016, 5.000%, 5/15/39   5/26 at 100.00 BBB+ 3,588,488
30,175   Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52   10/18 at 100.00 CCC+ 3,811,706
40,725   Total Rhode Island       15,410,962
    South Carolina – 3.9% (2.4% of Total Investments)        
10,670   Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Lexington Medical Center, Series 2016, 5.000%, 11/01/46   5/26 at 100.00 BB+ 11,521,679
    Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2:        
21,565   0.000%, 1/01/30  –  AMBAC Insured   No Opt. Call A- 14,367,250
1,250   0.000%, 1/01/31  –  AMBAC Insured   No Opt. Call A3 810,563
4,610   Rock Hill, South Carolina, Combined Utility System Revenue Bonds, Series 2016, 5.000%, 1/01/47   1/26 at 100.00 A3 5,083,309
1,640   South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, Furman University, Refunding Series 2015, 5.000%, 10/01/45   10/25 at 100.00 A1 1,847,706
6,000   South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, McLeod Health Projects, Refunding & Improvement Series 2018, 5.000%, 11/01/43   5/28 at 100.00 AA- 6,779,880
875   South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Palmetto Health, Refunding Series 2011A, 6.500%, 8/01/39 (Pre-refunded 8/01/21)  –  AGM Insured   8/21 at 100.00 AA (4) 992,548
9,000   South Carolina Public Service Authority Santee Cooper Revenue Obligations, Refunding Series 2016B, 5.000%, 12/01/56   12/26 at 100.00 A+ 9,664,830
43


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    South Carolina (continued)        
    South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C:        
$ 12,805   5.000%, 12/01/39   12/24 at 100.00 A+ $13,669,209
8,830   5.000%, 12/01/46   12/24 at 100.00 A+ 9,390,087
5,500   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.125%, 12/01/43   12/23 at 100.00 A+ 5,845,620
3,455   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54   6/24 at 100.00 A+ 3,766,952
14,765   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2015E, 5.250%, 12/01/55   12/25 at 100.00 A+ 15,985,327
    South Carolina State Ports Authority Revenue Bonds, Series 2018:        
5,000   5.000%, 7/01/43 (Alternative Minimum Tax)   7/28 at 100.00 A+ 5,654,850
4,200   5.000%, 7/01/55 (Alternative Minimum Tax)   7/28 at 100.00 A+ 4,664,268
7,695   South Carolina State Ports Authority, Revenue Bonds, Series 2015, 5.250%, 7/01/55 (Alternative Minimum Tax)   7/25 at 100.00 A+ 8,545,297
117,860   Total South Carolina       118,589,375
    South Dakota – 0.8% (0.5% of Total Investments)        
1,300   Deadwood, South Dakota, Sales Tax Revenue Bonds, Series 2009B, 6.250%, 12/01/28   12/19 at 100.00 N/R 1,320,384
11,320   South Dakota Board of Regents, Housing and Auxiliary Facilities System Revenue Bonds, Series 2017, 4.000%, 4/01/42   10/27 at 100.00 Aa3 11,607,981
2,685   South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 4.000%, 9/01/36   9/27 at 100.00 A1 2,734,109
1,460   South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2014B, 5.000%, 11/01/44   11/24 at 100.00 A+ 1,590,407
7,185   South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/45   11/25 at 100.00 A+ 7,883,669
23,950   Total South Dakota       25,136,550
    Tennessee – 2.2% (1.3% of Total Investments)        
9,460   Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45   1/23 at 100.00 BBB+ 10,115,389
7,000   Greeneville Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Ballad Health, Series 2018A, 5.000%, 7/01/36   7/28 at 100.00 Baa1 7,885,500
3,125   Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Mountain States Health Alliance, Refunding Series 2010A, 6.000%, 7/01/38 (Pre-refunded 7/01/20)   7/20 at 100.00 Baa1 (4) 3,378,781
75   Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding and Improvement Bonds, Johnson City Medical Center, Series 1998C, 5.125%, 7/01/25 (Pre-refunded 7/01/23)  –  NPFG Insured   7/23 at 100.00 Baa1 (4) 75,219
17,000   Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2016A, 5.000%, 1/01/47   1/27 at 100.00 A 18,418,650
44


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tennessee (continued)        
    Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University Project, Series 2012:        
$ 3,000   5.000%, 11/01/23   11/21 at 100.00 A3 $3,260,790
3,200   5.000%, 11/01/24   11/21 at 100.00 A3 3,469,792
3,400   5.000%, 11/01/25   11/21 at 100.00 A3 3,682,200
535   Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A, 5.000%, 7/01/46   7/26 at 100.00 A3 587,714
10,000   Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Refunding Series 2009B, 5.000%, 10/01/39 (Pre-refunded 10/01/19)   10/19 at 100.00 AA+ (4) 10,403,300
4,000   The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/26   No Opt. Call BBB+ 4,638,360
60,795   Total Tennessee       65,915,695
    Texas – 16.6% (10.3% of Total Investments)        
8,835   Arlington, Texas, Special Tax Revenue Bonds, Senior Lien Series 2018A, 5.000%, 2/15/43  –  AGM Insured   2/28 at 100.00 A1 10,001,043
3,040   Austin, Texas, Airport System Revenue Bonds, Series 2015, 5.000%, 11/15/44 (Alternative Minimum Tax)   11/24 at 100.00 A 3,325,669
4,500   Austin, Texas, Airport System Revenue Bonds, Series 2017B, 5.000%, 11/15/46 (Alternative Minimum Tax)   11/26 at 100.00 A 4,988,475
13,705   Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/45 (UB) (5)   11/25 at 100.00 Aa3 15,381,533
5,000   Austin, Texas, Water and Wastewater System Revenue Bonds, Refunding Series 2013A, 5.000%, 11/15/43   5/23 at 100.00 AA- 5,520,000
1,000   Bell County Water Control Improvement District 1, Texas, Water Revenue Bonds, Series 2014, 5.000%, 7/10/37  –  BAM Insured   7/23 at 100.00 A2 1,097,900
15,000   Board of Regents of the University of Texas System, Revenue Financing System Bonds, Refunding Series 2016F, 5.000%, 8/15/47 (UB) (5)   No Opt. Call AAA 19,081,050
3,225   Brazos River Authority, Texas, Pollution Control Revenue Bonds, TXU Energy Company LLC Project, Series 2003C, 6.750%, 10/01/38 (Alternative Minimum Tax) (7)   10/18 at 100.00 N/R 32
4,670   Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax) (7)   No Opt. Call N/R 47
    Bryan, Brazos County, Texas, Electric System Revenue Bonds, Refunding Series 2012:        
1,000   5.000%, 7/01/28   7/22 at 100.00 A2 1,094,200
1,000   5.000%, 7/01/29   7/22 at 100.00 A2 1,093,810
5,500   Capital Area Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, The Roman Catholic Diocese of Austin, Series 2005B. Remarketed, 6.125%, 4/01/45   4/20 at 100.00 Baa1 5,811,630
    Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Senior Lien Series 2013A:        
765   5.000%, 1/01/43   1/23 at 100.00 BBB+ 821,893
1,100   5.000%, 1/01/43  –  AGM Insured   1/23 at 100.00 A2 1,198,362
1,250   Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010, 5.750%, 1/01/25 (Pre-refunded 1/01/20)   1/20 at 100.00 Baa2 (4) 1,321,313
45


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
    Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011:        
$ 1,000   6.000%, 1/01/41 (Pre-refunded 1/01/21)   1/21 at 100.00 Baa2 (4) $1,096,270
3,380   6.250%, 1/01/46 (Pre-refunded 1/01/21)   1/21 at 100.00 Baa2 (4) 3,725,233
    Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A:        
2,600   5.000%, 1/01/35   7/25 at 100.00 BBB+ 2,854,332
3,035   5.000%, 1/01/45   7/25 at 100.00 Baa2 3,302,626
1,000   Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2013, 6.000%, 8/15/43   8/23 at 100.00 BBB+ 1,114,010
2,500   Colorado River Municipal Water District, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 1/01/36 (Pre-refunded 1/01/21)   1/21 at 100.00 AA- (4) 2,694,275
2,770   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2012D, 5.000%, 11/01/38 (Alternative Minimum Tax)   11/21 at 100.00 A+ 2,972,044
8,100   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2013C, 5.125%, 11/01/43 (Alternative Minimum Tax)   11/22 at 100.00 A+ 8,774,487
16,980   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2014B, 4.500%, 11/01/45 (Alternative Minimum Tax)   11/22 at 100.00 A+ 17,421,140
3,500   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2010A, 5.000%, 11/01/42   11/20 at 100.00 A+ 3,719,940
10,000   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012E, 5.000%, 11/01/42 (Alternative Minimum Tax)   11/21 at 100.00 A+ 10,642,700
9,000   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Series 2012H, 5.000%, 11/01/42 (Alternative Minimum Tax)   11/21 at 100.00 A+ 9,578,430
200   Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2014A, 5.250%, 9/01/44   9/24 at 100.00 BBB- 214,260
6,090   Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.125%, 10/01/43   10/23 at 100.00 BBB 6,664,896
9,120   Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 4/01/53   10/23 at 100.00 AA+ 9,990,778
5,295   Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2018A. Tela Supported, 5.000%, 10/01/48   4/28 at 100.00 AA 6,039,106
4,105   Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond Trust 2015-XF0228, 15.158%, 11/01/44, 144A (IF)   10/23 at 100.00 AA 5,673,192
2,960   Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)   10/22 at 100.00 B3 3,059,426
    Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015:        
1,895   4.000%, 12/01/45   6/25 at 100.00 AA 1,912,984
3,480   5.000%, 12/01/45   6/25 at 100.00 AA 3,841,224
1,615   Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men's Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/28   6/23 at 100.00 Baa3 1,725,434
500   Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Contractual Obligation Series 2014, 5.000%, 11/01/29   11/24 at 100.00 Aa2 573,735
46


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
    Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A:        
$ 510   0.000%, 11/15/41  –  AGM Insured   11/31 at 62.66 A2 $185,635
1,020   0.000%, 11/15/42  –  AGM Insured   11/31 at 59.73 A2 353,012
1,255   0.000%, 11/15/43  –  AGM Insured   11/31 at 56.93 A2 412,908
3,305   0.000%, 11/15/44  –  AGM Insured   11/31 at 54.25 A2 1,033,507
4,460   0.000%, 11/15/45  –  AGM Insured   11/31 at 51.48 A2 1,319,892
6,500   0.000%, 11/15/47  –  AGM Insured   11/31 at 46.45 A2 1,731,405
    Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:        
150   0.000%, 11/15/24  –  NPFG Insured   No Opt. Call BB+ 120,531
4,440   0.000%, 11/15/29  –  NPFG Insured   No Opt. Call BB+ 2,887,154
730   0.000%, 11/15/30  –  NPFG Insured   No Opt. Call BB+ 455,279
7,570   0.000%, 11/15/31  –  NPFG Insured   No Opt. Call BB+ 4,531,326
600   Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C, 5.000%, 11/15/33   11/24 at 100.00 BBB 658,878
1,000   Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/30   11/24 at 100.00 A- 1,121,060
2,305   Harris County-Houston Sports Authority, Texas, Special Revenue Bonds, Refunding Senior Lien Series 2001A, 0.000%, 11/15/20  –  NPFG Insured   No Opt. Call A2 2,204,479
7,570   Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018A, 5.000%, 7/01/41 (Alternative Minimum Tax)   7/28 at 100.00 A 8,575,069
5,000   Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Technical Operations Center Project, Series 2018, 5.000%, 7/15/28 (Alternative Minimum Tax)   No Opt. Call BB 5,594,450
380   Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29 (Alternative Minimum Tax)   7/24 at 100.00 Ba3 411,468
    Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2009A:        
210   5.125%, 11/15/32  –  AGC Insured   5/19 at 100.00 AA 215,788
3,790   5.125%, 11/15/32 (Pre-refunded 5/15/19)  –  AGC Insured   5/19 at 100.00 AA (4) 3,896,575
4,000   Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2011D, 5.000%, 11/15/40   11/21 at 100.00 AA 4,329,240
    Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:        
3,250   0.000%, 9/01/25  –  AMBAC Insured   No Opt. Call A2 2,643,225
4,130   0.000%, 9/01/26  –  AMBAC Insured   No Opt. Call A2 3,208,225
3,130   0.000%, 9/01/30  –  AMBAC Insured   No Opt. Call A- 1,988,677
12,030   0.000%, 9/01/31  –  AMBAC Insured   No Opt. Call A- 7,286,451
    Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 1998A:        
4,680   0.000%, 12/01/22  –  AGM Insured   No Opt. Call AA+ 4,262,404
12,030   0.000%, 12/01/22  –  AGM Insured (ETM)   No Opt. Call AA+ (4) 10,933,105
47


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
    Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Refunding Series 2015A:        
$ 8,000   4.000%, 8/15/37   8/25 at 100.00 AAA $8,369,440
2,275   5.000%, 8/15/40   8/25 at 100.00 AAA 2,552,459
4,800   Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40   11/20 at 100.00 BBB+ 5,093,040
6,500   Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2016, 5.000%, 5/15/46   5/26 at 100.00 A 7,182,435
9,180   Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston Light and Power Company, Series 1997, 5.125%, 11/01/28  –  AMBAC Insured (Alternative Minimum Tax)   No Opt. Call A 10,497,330
2,000   McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013, 6.125%, 12/01/38   12/25 at 100.00 B1 2,116,400
1,210   Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Series 2016B, 5.750%, 10/01/31 (Alternative Minimum Tax), 144A   10/18 at 103.00 BB- 1,250,233
1,735   New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - College Station I LLC - Texas A&M University Project, Series 2014A, 5.000%, 4/01/46  –  AGM Insured   4/24 at 100.00 A2 1,881,503
    North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:        
4,030   0.000%, 9/01/43 (Pre-refunded 9/01/31) (6)   9/31 at 100.00 N/R (4) 4,402,936
8,470   0.000%, 9/01/45 (Pre-refunded 9/01/31) (6)   9/31 at 100.00 N/R (4) 10,128,002
2,000   North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41 (Pre-refunded 9/01/21) (UB) (5)   9/21 at 100.00 N/R (4) 2,212,520
    North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A:        
205   6.250%, 1/01/39   1/19 at 100.00 A 208,739
895   6.250%, 1/01/39 (Pre-refunded 1/01/19)   1/19 at 100.00 N/R (4) 913,177
7,000   North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I, 6.500%, 1/01/43   1/25 at 100.00 A 8,455,930
10,260   North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40   1/23 at 100.00 A 11,177,449
    North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A:        
13,355   5.000%, 1/01/33   1/25 at 100.00 A- 14,968,685
1,000   5.000%, 1/01/34   1/25 at 100.00 A- 1,117,120
4,000   Sabine River Authority, Texas, Pollution Control Revenue Bonds, TXU Electric Company, Series 2001C, 5.200%, 5/01/28 (7)   11/18 at 100.00 N/R 40
1,300   Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Series 2009B, 5.250%, 9/01/26  –  AGC Insured   9/19 at 100.00 A2 1,346,475
    Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010:        
355   5.500%, 8/15/45 (Pre-refunded 8/15/20)   8/20 at 100.00 N/R (4) 381,661
4,445   5.500%, 8/15/45 (Pre-refunded 8/15/20)   8/20 at 100.00 AA- (4) 4,788,110
48


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
$ 2,000   Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources System, Series 2016A, 5.000%, 2/15/41   8/26 at 100.00 AA $2,236,760
650   Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 6.250%, 12/15/26   No Opt. Call A- 756,698
    Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012:        
5,910   5.000%, 12/15/23   12/22 at 100.00 BBB 6,543,611
2,050   5.000%, 12/15/26   12/22 at 100.00 BBB 2,243,048
1,000   5.000%, 12/15/27   12/22 at 100.00 BBB 1,090,290
12,745   5.000%, 12/15/29   12/22 at 100.00 BBB 13,819,149
2,000   5.000%, 12/15/31   12/22 at 100.00 BBB 2,160,900
1,620   Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Senior Lien Series 2009, 6.875%, 12/31/39   12/19 at 100.00 BBB- 1,720,618
19,735   Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, Blueridge Transportation Group, LLC SH 288 Toll Lanes Project, Series 2016, 5.000%, 12/31/50 (Alternative Minimum Tax)   12/25 at 100.00 Baa3 21,252,029
    Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010:        
1,000   7.000%, 6/30/34   6/20 at 100.00 Baa3 1,085,200
1,000   7.000%, 6/30/40   6/20 at 100.00 Baa3 1,084,020
    Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 Segments 3A & 3B Facility, Series 2013:        
1,335   7.000%, 12/31/38 (Alternative Minimum Tax)   9/23 at 100.00 Baa3 1,578,651
4,040   6.750%, 6/30/43 (Alternative Minimum Tax)   9/23 at 100.00 Baa3 4,711,569
3,335   Texas State, General Obligation Bonds, Water Financial Assistance, Tender Option Bond Trust 2015-XF0075, 11.864%, 8/01/39, 144A (IF)   8/19 at 100.00 AAA 3,633,749
9,430   Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2012A, 5.000%, 8/15/41   8/22 at 100.00 A- 10,123,199
    Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B:        
8,335   0.000%, 8/15/36   8/24 at 59.60 A- 3,897,279
10,960   5.000%, 8/15/37   8/24 at 100.00 A- 12,098,196
    Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C:        
2,100   5.000%, 8/15/33   8/24 at 100.00 BBB+ 2,291,520
15,750   5.000%, 8/15/42   8/24 at 100.00 BBB 16,998,502
49


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
    Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A:        
$ 2,285   0.000%, 8/15/21  –  AMBAC Insured (ETM)   No Opt. Call A3 (4) $2,151,670
7,715   0.000%, 8/15/21  –  AMBAC Insured   No Opt. Call A- 7,208,279
2,020   0.000%, 8/15/23  –  AMBAC Insured (ETM)   No Opt. Call A3 (4) 1,801,153
9,980   0.000%, 8/15/23  –  AMBAC Insured   No Opt. Call A- 8,810,643
3,830   0.000%, 8/15/24  –  AMBAC Insured (ETM)   No Opt. Call A3 (4) 3,306,477
21,170   0.000%, 8/15/24  –  AMBAC Insured   No Opt. Call A- 18,081,085
    Travis County Health Facilities Development Corporation, Texas, Revenue Bonds, Westminster Manor, Series 2010:        
170   7.000%, 11/01/30   11/20 at 100.00 BBB+ 180,620
905   7.000%, 11/01/30 (Pre-refunded 11/01/20)   11/20 at 100.00 N/R (4) 1,008,152
485   Winter Garden Housing Finance Corporation, Texas, GNMA/FNMA Mortgage-Backed Securities Program Single Family Mortgage Revenue Bonds, Series 1994, 6.950%, 10/01/27 (Alternative Minimum Tax)   10/18 at 100.00 CC 486,489
2,165   Wylie Independent School District, Collin County, Texas, General Obligation Bonds, School Building Series 2010, 0.000%, 8/15/34   No Opt. Call AAA 987,132
511,495   Total Texas       501,077,594
    Utah – 1.7% (1.1% of Total Investments)        
1,000   Central Utah Water Conservancy District, Water Revenue Bonds, Series 2012C, 5.000%, 10/01/42   10/22 at 100.00 AA+ 1,099,080
33,980   Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A, 5.000%, 7/01/47 (Alternative Minimum Tax)   7/27 at 100.00 A2 37,935,952
2,000   Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2012, 5.000%, 5/15/43   5/21 at 100.00 AA+ 2,159,480
5,795   Utah State Charter School Finance Authoirty, Charter School Revenue Bonds, Hawthorn Academy Project, Series 2016, 5.000%, 10/15/46   4/26 at 100.00 AA 6,348,480
    Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2012:        
1,665   5.000%, 6/15/42 (Pre-refunded 6/15/22)   6/22 at 100.00 N/R (4) 1,857,957
2,445   5.000%, 6/15/42   6/22 at 100.00 A+ 2,646,492
46,885   Total Utah       52,047,441
    Virginia – 3.8% (2.4% of Total Investments)        
1,000   Amherst Industrial Development Authority, Virginia, Revenue Bonds, Sweet Briar College, Series 2006, 5.000%, 9/01/26   10/18 at 100.00 B+ 950,780
515   Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital Appreciation Series 2012B, 0.000%, 7/15/40 (6)   7/28 at 100.00 BBB 443,595
1,000   Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds, Inova Health System, Series 2018A, 4.000%, 5/15/48 (UB) (WI/DD, Settling 8/02/18)   5/28 at 100.00 Aa2 1,022,750
1,000   Fairfax County Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds, FHA-Insured Mortgage - Cedar Ridge Project, Series 2007, 4.850%, 10/01/48 (Alternative Minimum Tax)   10/18 at 100.00 AA+ 1,003,350
12,000   Hampton Roads Transportation Accountability Commission, Virginia, Hampton Roads Transportation Fund Revenue Bonds, Senior Lien Series 2018A, 5.000%, 7/01/52   1/28 at 100.00 AA 13,827,720
50


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Virginia (continued)        
$ 2,400   Henrico County Economic Development Authority, Virginia, Revenue Bonds, Bon Secours Health System Obligated Group, Series 2013, 5.000%, 11/01/30   11/22 at 100.00 A $2,654,544
5,625   Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53   4/22 at 100.00 BBB+ 5,954,231
2,000   Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009B, 0.000%, 10/01/36  –  AGC Insured   No Opt. Call A3 956,920
5,000   Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009C, 6.500%, 10/01/41  –  AGC Insured   10/26 at 100.00 A3 6,295,750
5,000   Metropolitan Washington D.C. Airports Authority, Virginia, Airport System Revenue Bonds, Series 2010A, 5.000%, 10/01/39   10/20 at 100.00 AA- 5,307,200
4,500   Metropolitan Washington D.C. Airports Authority, Virginia, Airport System Revenue Bonds, Refunding Series 2013A, 5.000%, 10/01/30 (Alternative Minimum Tax)   10/23 at 100.00 AA- 4,993,290
15,935   Metropolitan Washington D.C. Airports Authority, Virginia, Airport System Revenue Bonds, Refunding Series 2017, 5.000%, 10/01/47 (Alternative Minimum Tax)   10/27 at 100.00 AA- 17,900,582
    Prince William County Industrial Development Authority, Virginia, Health Care Facilities Revenue Bonds, Novant Health Obligated Group-Prince William Hospital, Refunding Series 2013B:        
2,000   4.000%, 11/01/33   11/22 at 100.00 A+ 2,077,500
3,000   5.000%, 11/01/46   11/22 at 100.00 A+ 3,211,470
6,000   Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47   9/18 at 100.00 B- 5,999,880
    Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017:        
3,200   5.000%, 12/31/49 (Alternative Minimum Tax)   6/27 at 100.00 BBB 3,510,688
12,255   5.000%, 12/31/52 (Alternative Minimum Tax)   6/27 at 100.00 Baa3 13,415,671
4,535   Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, 95 Express Lanes LLC Project, Series 2012, 5.000%, 1/01/40 (Alternative Minimum Tax)   1/22 at 100.00 BBB 4,792,361
    Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012:        
3,670   6.000%, 1/01/37 (Alternative Minimum Tax)   7/22 at 100.00 BBB 4,063,608
14,930   5.500%, 1/01/42 (Alternative Minimum Tax)   7/22 at 100.00 BBB 16,188,002
105,565   Total Virginia       114,569,892
    Washington – 4.4% (2.8% of Total Investments)        
11,345   Chelan County Public Utility District 1, Washington, Columbia River-Rock Island Hydro-Electric System Revenue Refunding Bonds, Series 1997A, 0.000%, 6/01/19  –  NPFG Insured   No Opt. Call Aa3 11,185,716
2,000   Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2014A, 5.000%, 7/01/40   7/24 at 100.00 AA- 2,244,020
3,750   FYI Properties, Washington, Lease Revenue Bonds, Washington State Department of Information Services Project, Series 2009, 5.500%, 6/01/39 (UB) (5)   6/19 at 100.00 AA 3,854,925
51


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Washington (continued)        
$ 2,375   Grant County Public Utility District 2, Washington, Revenue Bonds, Priest Rapids Hydroelectric Project, Refunding Series 2015A, 5.000%, 1/01/41   1/26 at 100.00 Aa3 $2,651,783
2,270   Port Everett, Washington, Revenue Bonds, Refunding Series 2016, 5.000%, 12/01/46   6/26 at 100.00 A1 2,539,267
9,685   Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2017C, 5.000%, 5/01/42 (Alternative Minimum Tax)   5/27 at 100.00 A+ 10,825,215
6,000   Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2018A, 5.000%, 5/01/36 (Alternative Minimum Tax)   5/27 at 100.00 A+ 6,754,680
10,000   Spokane Public Facilities District, Washington, Hotel, Motel, and Sales Use Tax Revenue Bonds, Series 2013A, 5.000%, 5/01/43   6/23 at 100.00 A+ 10,949,300
5,195   Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.500%, 12/01/39 (Pre-refunded 12/01/20)   12/20 at 100.00 N/R (4) 5,635,380
1,590   Washington Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2012, 5.000%, 12/01/42 (Pre-refunded 12/01/21)   12/21 at 100.00 N/R (4) 1,748,841
4,000   Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2012A, 5.000%, 10/01/32   10/22 at 100.00 AA- 4,421,360
1,000   Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2012A, 5.000%, 10/01/42   10/22 at 100.00 Aa2 1,091,210
11,500   Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2015A, 5.000%, 10/01/45 (UB)   4/25 at 100.00 Aa2 12,732,915
    Washington State Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services Association, Series 2009:        
845   6.250%, 7/01/24   7/19 at 100.00 Baa1 871,482
1,155   6.250%, 7/01/24 (Pre-refunded 7/01/19)   7/19 at 100.00 N/R (4) 1,203,302
4,000   Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33 (Pre-refunded 7/01/19)   7/19 at 100.00 A3 (4) 4,158,240
320   Washington State Housing Finance Commission, Revenue Bonds, Riverview Retirement Community, Refunding Series 2012, 5.000%, 1/01/48   1/23 at 100.00 BBB- 330,464
6,480   Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002-03C, 0.000%, 6/01/24  –  NPFG Insured   No Opt. Call AA+ 5,625,547
11,050   Washington, General Obligation Bonds, Series 2000S-5, 0.000%, 1/01/20  –  FGIC Insured   No Opt. Call AA+ 10,788,668
    Washington, General Obligation Compound Interest Bonds, Series 1999S-3:        
17,650   0.000%, 1/01/20   No Opt. Call AA+ 17,232,578
18,470   0.000%, 1/01/21   No Opt. Call AA+ 17,637,372
130,680   Total Washington       134,482,265
    West Virginia – 1.0% (0.6% of Total Investments)        
1,965   West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2009A, 5.625%, 9/01/32   9/19 at 100.00 Baa1 2,033,225
1,000   West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Thomas Health System, Inc., Series 2008, 6.500%, 10/01/38   10/18 at 100.00 N/R 1,002,960
7,000   West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Refunding & Improvement Series 2013A, 5.500%, 6/01/44   6/23 at 100.00 A 7,695,240
15,000   West Virginia Hospital Finance Authority, Hospital Revenue Bonds, West Virginia United Health System Obligated Group, Series 2018A, 5.000%, 6/01/52   6/28 at 100.00 A 16,567,950
52


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    West Virginia (continued)        
$ 2,000   West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System Obligated Group, Improvement Series 2017A, 5.000%, 6/01/42   6/27 at 100.00 A $ 2,210,100
26,965   Total West Virginia       29,509,475
    Wisconsin – 2.2% (1.3% of Total Investments)        
2,230   Monroe Redevelopment Authority, Wisconsin, Development Revenue Bonds, The Monroe Clinic, Inc., Series 2009, 5.875%, 2/15/39 (Pre-refunded 2/15/19)   2/19 at 100.00 N/R (4) 2,283,342
    Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1:        
34   0.000%, 1/01/47  –  ACA Insured ,144A   No Opt. Call N/R 1,065
30   0.000%, 1/01/48  –  ACA Insured ,144A   No Opt. Call N/R 929
29   0.000%, 1/01/49  –  ACA Insured ,144A   No Opt. Call N/R 912
29   0.000%, 1/01/50  –  ACA Insured ,144A   No Opt. Call N/R 881
28   0.000%, 1/01/51  –  ACA Insured ,144A   No Opt. Call N/R 865
36   0.000%, 1/01/52  –  ACA Insured ,144A   No Opt. Call N/R 1,122
36   0.000%, 1/01/53  –  ACA Insured ,144A   No Opt. Call N/R 1,106
35   0.000%, 1/01/54  –  ACA Insured ,144A   No Opt. Call N/R 1,068
34   0.000%, 1/01/55  –  ACA Insured ,144A   No Opt. Call N/R 1,045
33   0.000%, 1/01/56  –  ACA Insured ,144A   No Opt. Call N/R 1,021
1,614   5.500%, 7/01/56  –  ACA Insured ,144A   3/28 at 100.00 N/R 1,609,087
37   0.000%, 1/01/57  –  ACA Insured ,144A   No Opt. Call N/R 1,130
36   0.000%, 1/01/58  –  ACA Insured ,144A   No Opt. Call N/R 1,099
35   0.000%, 1/01/59  –  ACA Insured ,144A   No Opt. Call N/R 1,069
34   0.000%, 1/01/60  –  ACA Insured ,144A   No Opt. Call N/R 1,046
34   0.000%, 1/01/61  –  ACA Insured ,144A   No Opt. Call N/R 1,030
33   0.000%, 1/01/62  –  ACA Insured ,144A   3/28 at 17.35 N/R 1,000
32   0.000%, 1/01/63  –  ACA Insured ,144A   3/28 at 16.48 N/R 977
31   0.000%, 1/01/64  –  ACA Insured ,144A   No Opt. Call N/R 954
31   0.000%, 1/01/65  –  ACA Insured ,144A   No Opt. Call N/R 939
33   0.000%, 1/01/66  –  ACA Insured ,144A   No Opt. Call N/R 1,011
401   0.000%, 1/01/67  –  ACA Insured ,144A   No Opt. Call N/R 12,164
53


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Wisconsin (continued)        
    Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B:        
$ 60   0.000%, 1/01/46  –  ACA Insured ,144A   No Opt. Call N/R $1,853
59   0.000%, 1/01/47  –  ACA Insured ,144A   No Opt. Call N/R 1,824
58   0.000%, 1/01/48  –  ACA Insured ,144A   No Opt. Call N/R 1,808
58   0.000%, 1/01/49  –  ACA Insured ,144A   No Opt. Call N/R 1,791
57   0.000%, 1/01/50  –  ACA Insured ,144A   No Opt. Call N/R 1,762
62   0.000%, 1/01/51  –  ACA Insured ,144A   No Opt. Call N/R 1,928
1,625   3.750%, 7/01/51  –  ACA Insured ,144A   3/28 at 100.00 N/R 1,578,993
62   0.000%, 1/01/52  –  ACA Insured ,144A   No Opt. Call N/R 1,912
61   0.000%, 1/01/53  –  ACA Insured ,144A   No Opt. Call N/R 1,884
61   0.000%, 1/01/54  –  ACA Insured ,144A   No Opt. Call N/R 1,869
60   0.000%, 1/01/55  –  ACA Insured ,144A   No Opt. Call N/R 1,841
59   0.000%, 1/01/56  –  ACA Insured ,144A   No Opt. Call N/R 1,812
59   0.000%, 1/01/57  –  ACA Insured ,144A   No Opt. Call N/R 1,798
58   0.000%, 1/01/58  –  ACA Insured ,144A   No Opt. Call N/R 1,770
57   0.000%, 1/01/59  –  ACA Insured ,144A   No Opt. Call N/R 1,755
57   0.000%, 1/01/60  –  ACA Insured ,144A   No Opt. Call N/R 1,741
56   0.000%, 1/01/61  –  ACA Insured ,144A   No Opt. Call N/R 1,714
56   0.000%, 1/01/62  –  ACA Insured ,144A   No Opt. Call N/R 1,699
55   0.000%, 1/01/63  –  ACA Insured ,144A   No Opt. Call N/R 1,672
54   0.000%, 1/01/64  –  ACA Insured ,144A   No Opt. Call N/R 1,657
54   0.000%, 1/01/65  –  ACA Insured ,144A   No Opt. Call N/R 1,643
53   0.000%, 1/01/66  –  ACA Insured ,144A   No Opt. Call N/R 1,617
693   0.000%, 1/01/67  –  ACA Insured ,144A   No Opt. Call N/R 21,032
880   Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2014, 5.250%, 4/01/30 (Alternative Minimum Tax)   11/24 at 100.00 N/R 940,218
4,400   Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-2, 2.875%, 5/01/27 (Alternative Minimum Tax)   5/26 at 100.00 A- 4,291,540
5,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Agnesian HealthCare, Inc., Series 2013B, 5.000%, 7/01/36 (Pre-refunded 7/01/23)   7/23 at 100.00 N/R (4) 5,678,550
10,225   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Ascension Health Alliance Senior Credit Group, Series 2016A, 4.500%, 11/15/39   5/26 at 100.00 Aa2 10,894,635
210   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Bellin Memorial Hospital Inc., Series 2003, 5.500%, 2/15/19  –  AMBAC Insured   No Opt. Call A2 214,341
1,035   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2010B, 5.125%, 4/01/36   4/20 at 100.00 A- 1,068,689
1,685   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2016, 4.000%, 7/01/46   7/26 at 100.00 A- 1,670,947
4,330   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Childrens Hospital of Wisconsin Inc., Series 2008B, 5.500%, 8/15/29 (Pre-refunded 2/15/20)   2/20 at 100.00 Aa3 (4) 4,587,938
54


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Wisconsin (continued)        
$ 13,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic Health System, Inc., Series 2017C, 5.000%, 2/15/47   2/27 at 100.00 A- $14,118,130
1,250   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B, 5.000%, 2/15/32   2/22 at 100.00 A- 1,337,175
6,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2016A, 5.000%, 2/15/46   2/26 at 100.00 A- 6,521,160
2,750   Wisconsin Health and Educational Facilities Authority, Revenues Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39   10/21 at 100.00 A1 2,957,515
5,000   Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 6.000%, 5/01/36 (Pre-refunded 5/01/19)   5/19 at 100.00 Aa2 (4) 5,169,850
64,204   Total Wisconsin       65,012,925
$ 4,854,907   Total Municipal Bonds (cost $4,558,085,235)       4,840,705,927
    
Principal Amount (000)   Description (1) Coupon Maturity Ratings (3) Value
    CORPORATE BONDS – 0.0% (0.0% of Total Investments)        
    Transportation – 0.0% (0.0% of Total Investments)        
$ 731   Las Vegas Monorail Company, Senior Interest Bonds (8), (9) 5.500% 7/15/19 N/R $471,684
204   Las Vegas Monorail Company, Senior Interest Bonds (8), (9) 5.500% 7/15/55 N/R 102,758
$ 935   Total Corporate Bonds (cost $51,345)       574,442
    
Shares   Description (1), (10)       Value
    INVESTMENT COMPANIES – 0.0% (0.0% of Total Investments)        
8,812   BlackRock MuniHoldings Fund Inc.       $137,643
32,524   Invesco Quality Municipal Income Trust       388,662
    Total Investment Companies (cost $530,611)       526,305
    Total Long-Term Investments (cost $4,558,667,191)       4,841,806,674
    
Principal Amount (000)   Description (1)   Optional Call Provision (2) Ratings (3) Value
    SHORT-TERM INVESTMENTS  –  0.8% (0.5% of Total Investments)        
    MUNICIPAL BONDS  –  0.8% (0.5% of Total Investments)        
    California – 0.7% (0.4% of Total Investments)        
$ 20,315   California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System, Variable Rate Demand Obligations, Series 2004J, 1.320%, 4/01/36 (11)   10/18 at 100.00 A-1+ $ 20,315,000
55


NAD Nuveen Quality Municipal Income Fund (continued)
  Portfolio of Investments July 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provision (2) Ratings (3) Value
    Minnesota – 0.1% (0.1% of Total Investments)        
$ 2,500   Rochester, Minnesota, Health Care Facilities Revenue Bonds, Variable Rate Demand Obligations, Mayo Clinic Series 2008B, 1.460%, 11/15/38 (11)   10/18 at 100.00 VMIG-1 $ 2,500,000
$ 22,815   Total Short-Term Investments (cost $22,815,000)       22,815,000
    Total Investments (cost $4,581,482,191) – 160.8%       4,864,621,674
    Floating Rate Obligations – (3.5)%       (106,160,000)
    MuniFund Term Preferred Shares, net of deferred offering costs – (20.0)% (12)       (606,615,860)
    Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs – (18.0)% (13)       (545,483,846)
    Variable Rate Demand Preferred Shares, net of deferred offering costs – (20.8)% (14)       (629,475,481)
    Other Assets Less Liabilities – 1.5%       48,944,162
    Net Assets Applicable to Common Shares – 100%       $ 3,025,830,649
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Municipal Bonds $  — $4,840,705,927 $  — $4,840,705,927
Corporate Bonds  —  — 574,442 574,442
Investment Companies 526,305  —  — 526,305
Short-Term Investments:        
Municipal Bonds  — 22,815,000  — 22,815,000
Total $526,305 $4,863,520,927 $574,442 $4,864,621,674
56


Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
The table below presents the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of July 31, 2018.
Tax cost of investments $4,472,070,691
Gross unrealized:  
Appreciation $ 302,906,551
Depreciation (16,514,428)
Net unrealized appreciation (depreciation) of investments $ 286,392,123
(1) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.  
(2) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.  
(3) The ratings disclosed are the lowest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.  
(4) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.  
(5) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.  
(6) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.  
(7) As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.  
(8) During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund's Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund's records.  
(9) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3.  
(10) A copy of the most recent financial statements for these investment companies can be obtained directly from the Securities and Exchange Commission on its website at http://www.sec.gov.  
(11) Investment has maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.  
(12) MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 12.5%.  
(13) Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 11.2%.  
(14) Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 12.9%.  
144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.  
ETM Escrowed to maturity.  
IF Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.  
PIK Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.  
UB Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.  
57


Item 2. Controls and Procedures.

 

  a.

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

  b.

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)    Nuveen Quality Municipal Income Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                       
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: September 28, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)    /s/ Cedric H. Antosiewicz                                                    
   Cedric H. Antosiewicz   
   Chief Administrative Officer (principal executive officer)   
Date: September 28, 2018      
By (Signature and Title)    /s/ Stephen D. Foy                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: September 28, 2018