Nuveen AMT-Free Municipal Credit 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 811-09475

Nuveen AMT-Free Municipal Credit 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: January 31, 2019                

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

 

 


NVG
Nuveen AMT-Free Municipal Credit Income Fund
Portfolio of Investments    January 31, 2019
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 160.6% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 160.6% (100.0% of Total Investments)        
    Alabama – 1.3% (0.8% of Total Investments)        
$ 3,645   Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds, University of Mobile Project, Series 2015A, 6.000%, 9/01/45, 144A   9/25 at 100.00 N/R $3,545,783
22,655   Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/46   No Opt. Call A3 26,501,819
8,100   Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015, 5.875%, 4/15/45   4/25 at 100.00 N/R 8,303,958
    Opelika Utilities Board, Alabama, Utility Revenue Bonds, Series 2011B:        
1,250   4.000%, 6/01/29  –  AGM Insured   6/21 at 100.00 Aa3 1,299,825
1,000   4.250%, 6/01/31  –  AGM Insured   6/21 at 100.00 Aa3 1,039,720
    The Improvement District of the City of Mobile - McGowin Park Project, Alabama, Sales Tax Revenue Bonds, Series 2016A:        
1,000   5.250%, 8/01/30   8/26 at 100.00 N/R 1,012,960
1,300   5.500%, 8/01/35   8/26 at 100.00 N/R 1,314,781
38,950   Total Alabama       43,018,846
    Alaska – 0.7% (0.5% of Total Investments)        
    Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A:        
7,010   5.000%, 6/01/32   3/19 at 100.00 B3 6,797,317
17,995   5.000%, 6/01/46   4/19 at 100.00 B3 16,633,678
25,005   Total Alaska       23,430,995
    Arizona – 2.9% (1.8% of Total Investments)        
4,230   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- 4,430,206
1,475   Arizona Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc Projects, Series 2017D, 5.000%, 7/01/47, 144A   7/27 at 100.00 BB 1,491,078
3,260   Arizona Industrial Development Authority, Education Facility Revenue Bonds, Caurus Academy Project, Series 2018A, 6.375%, 6/01/39, 144A   6/28 at 100.00 N/R 3,270,986
10,000   Arizona Sports and Tourism Authority, Tax Revenue Bonds, Multipurpose Stadium Facility Project, Refunding Senior Series 2012A, 5.000%, 7/01/31   7/22 at 100.00 A 10,643,100
3,000   Arizona State, Certificates of Participation, Department of Administration Series 2010B, 5.000%, 10/01/29  –  AGC Insured   4/20 at 100.00 Aa3 3,105,270
    Arizona State, Certificates of Participation, Series 2010A:        
1,200   5.250%, 10/01/28  –  AGM Insured   10/19 at 100.00 Aa3 1,228,140
1,500   5.000%, 10/01/29  –  AGM Insured   10/19 at 100.00 Aa3 1,532,730
7,070   Arizona State, State Lottery Revenue Bonds, Series 2010A, 5.000%, 7/01/29  –  AGC Insured   1/20 at 100.00 Aa3 7,274,747
1


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Arizona (continued)        
$ 3,390   Cahava Springs Revitalization District, Cave Creek, Arizona, Special Assessment Bonds, Series 2017A, 7.000%, 7/01/41, 144A   7/27 at 100.00 N/R $3,413,188
7,780   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) 8,141,225
    Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B:        
6,000   5.500%, 7/01/37  –  FGIC Insured   No Opt. Call AA 7,713,360
8,755   5.500%, 7/01/39  –  FGIC Insured   No Opt. Call AA 11,308,308
    Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Basis Schools, Inc Projects, Series 2016A:        
620   5.000%, 7/01/35, 144A   7/25 at 100.00 BB 635,680
1,025   5.000%, 7/01/46, 144A   7/25 at 100.00 BB 1,034,461
2,065   Phoenix Industrial Development Authority, Arizona, Multifamily Housing Revenue Bonds, Deer Valley Veterans Assisted Living Project, Series 2016A, 5.125%, 7/01/36   7/24 at 101.00 N/R 2,021,841
    Pima County Industrial Development Authority, Arizona, Education Facility Revenue and Refunding Bonds, Edkey Charter Schools Project, Series 2013:        
490   6.000%, 7/01/33   7/20 at 102.00 BB- 472,483
610   6.000%, 7/01/43   7/20 at 102.00 BB- 561,499
350   6.000%, 7/01/48   7/20 at 102.00 BB- 318,143
1,425   Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2014A, 7.375%, 7/01/49   7/20 at 102.00 BB- 1,383,732
    Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, Edkey Charter Schools Project, Series 2016:        
1,130   5.250%, 7/01/36   7/26 at 100.00 BB- 992,705
1,850   5.375%, 7/01/46   7/26 at 100.00 BB- 1,567,283
2,135   5.500%, 7/01/51   7/26 at 100.00 BB- 1,801,406
885   Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2016, 6.500%, 2/01/48, 144A   2/24 at 100.00 N/R 897,001
3,050   Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, San Tan Montessori School Project, Series 2017, 6.750%, 2/01/50, 144A   2/28 at 100.00 N/R 3,157,909
105   Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Noah Webster Schools ? Pima Project, Series 2014A, 7.250%, 7/01/39   7/20 at 102.00 BB- 102,153
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- 1,043,370
2,745   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+ 3,197,074
7,295   Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc., Prepay Contract Obligations, Series 2007, 5.000%, 12/01/32   No Opt. Call BBB+ 8,555,941
800   The Industrial Development Authority of the County of Maricopa, Arizona, Education Revenue Bonds, Reid Traditional School Projects, Series 2016, 5.000%, 7/01/47   7/26 at 100.00 Baa3 842,960
2,000   Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai Regional Medical Center, Series 2013A, 5.250%, 8/01/33   8/23 at 100.00 A3 2,192,180
87,240   Total Arizona       94,330,159
2


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Arkansas – 0.2% (0.2% of Total Investments)        
    Arkansas Development Finance Authority, Tobacco Settlement Revenue Bonds, Arkansas Cancer Research Center Project, Series 2006:        
$ 2,500   0.000%, 7/01/36  –  AMBAC Insured   No Opt. Call Aa2 $1,269,650
20,460   0.000%, 7/01/46  –  AMBAC Insured   No Opt. Call Aa2 6,271,604
22,960   Total Arkansas       7,541,254
    California – 15.5% (9.7% of Total Investments)        
    Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate Lien Series 2004A:        
45   0.000%, 10/01/20  –  AMBAC Insured   No Opt. Call Baa2 43,071
2,120   0.000%, 10/01/20  –  AMBAC Insured (ETM)   No Opt. Call Aaa (4) 2,062,336
6,135   Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds, Capital Appreciation Series 2009B, 0.000%, 8/01/30  –  AGC Insured   No Opt. Call AA 4,376,954
12,550   Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35  –  AGM Insured   No Opt. Call A2 6,713,748
4,100   Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A, 5.000%, 3/01/41   3/26 at 100.00 Ba3 4,133,866
5,000   Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38 (Pre-refunded 4/01/23)   4/23 at 100.00 A1 (4) 5,707,150
    California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A:        
3,275   5.450%, 6/01/28   2/28 at 100.00 B2 3,324,158
2,975   5.650%, 6/01/41   4/19 at 100.00 B2 2,976,279
22,965   California Educational Facilities Authority, Revenue Bonds, Stanford University Series 2016U-7, 5.000%, 6/01/46 (UB) (5)   No Opt. Call AAA 29,908,008
10,000   California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hospital, Series 2012A, 5.000%, 8/15/51   8/22 at 100.00 A+ 10,762,500
1,600   California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/37   7/23 at 100.00 AA- 1,763,136
6,665   California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Series 2015A, 5.000%, 8/15/54 (UB) (5)   8/25 at 100.00 AA- 7,350,362
    California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics, Tender Option Bond Trust 2016-XG0049:        
1,555   8.214%, 8/15/51, 144A (IF) (5)   8/22 at 100.00 AA- 1,786,508
1,650   8.220%, 8/15/51, 144A (IF) (5)   8/22 at 100.00 AA- 1,895,867
4,075   8.220%, 8/15/51, 144A (IF) (5)   8/22 at 100.00 AA- 4,682,216
5,000   California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2013A, 5.000%, 8/15/52   8/23 at 100.00 A+ 5,370,150
    California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A:        
3,065   5.000%, 7/01/31, 144A   7/26 at 100.00 BB 3,263,765
1,000   5.000%, 7/01/36, 144A   7/26 at 100.00 BB 1,045,260
555   5.000%, 7/01/41, 144A   7/26 at 100.00 BB 573,709
195   5.000%, 7/01/46, 144A   7/26 at 100.00 BB 200,706
3


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
    California Municipal Finance Authority, Education Revenue Bonds, American Heritage Foundation Project, Series 2016A:        
$ 260   5.000%, 6/01/36   6/26 at 100.00 BBB- $277,716
435   5.000%, 6/01/46   6/26 at 100.00 BBB- 458,407
2,335   California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 Baa2 (4) 2,469,379
5,425   California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Refunding Series 2019, 5.000%, 11/21/45, 144A (WI/DD, Settling 2/20/19)   1/29 at 100.00 Baa3 5,998,422
2,050   California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017, 5.000%, 10/15/47   10/26 at 100.00 BBB- 2,190,158
735   California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016, 5.000%, 6/01/46, 144A   6/26 at 100.00 N/R 744,849
715   California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2016A, 5.000%, 6/01/36, 144A   6/25 at 100.00 N/R 733,654
570   California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2017A, 5.125%, 6/01/47, 144A   6/26 at 100.00 N/R 583,766
80   California State, General Obligation Bonds, Series 2002, 5.000%, 10/01/32  –  NPFG Insured   4/19 at 100.00 AA- 80,189
5   California State, General Obligation Bonds, Series 2004, 5.000%, 4/01/31  –  AMBAC Insured   4/19 at 100.00 AA- 5,012
    California State, General Obligation Bonds, Various Purpose Series 2010:        
3,500   5.250%, 3/01/30   3/20 at 100.00 AA- 3,628,310
10,000   5.500%, 11/01/35   11/20 at 100.00 AA- 10,606,500
12,710   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.500%, 12/01/54   12/24 at 100.00 BB- 13,602,623
65,505   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.250%, 12/01/56, 144A   6/26 at 100.00 BB- 69,038,995
10,130   California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A, 5.500%, 12/01/58, 144A   6/28 at 100.00 BB- 11,030,760
4,000   California Statewide Communities Development Authority, Revenue Bonds, Huntington Memorial Hospital, Refunding Series 2014B, 4.000%, 7/01/39   7/24 at 100.00 A- 4,036,720
7,000   California Statewide Communities Development Authority, Revenue Bonds, Sutter Health, Series 2011A, 6.000%, 8/15/42 (Pre-refunded 8/15/20)   8/20 at 100.00 A+ (4) 7,469,350
    California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A:        
1,535   5.750%, 7/01/30   4/19 at 100.00 CC 1,269,245
4,430   5.750%, 7/01/35   4/19 at 100.00 CC 3,618,956
5,000   Clovis Unified School District, Fresno County, California, General Obligation Bonds, Series 2001A, 0.000%, 8/01/25  –  FGIC Insured (ETM)   No Opt. Call Baa2 (4) 4,391,200
3,400   Coachella Valley Unified School District, Riverside County, California, General Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/33  –  AGM Insured   No Opt. Call A2 2,056,388
4


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 14,375   Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Capital Appreciation, Election 2006 Refunding Series 2009C, 0.000%, 8/01/39  –  AGM Insured   No Opt. Call AA $6,325,431
    El Rancho Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2010 Series 2011A:        
2,615   0.000%, 8/01/31  –  AGM Insured (6)   8/28 at 100.00 A1 2,682,572
3,600   0.000%, 8/01/34  –  AGM Insured (6)   8/28 at 100.00 A1 3,653,676
    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2015A:        
3,960   0.000%, 1/15/34  –  AGM Insured   No Opt. Call BBB- 2,316,362
5,000   0.000%, 1/15/35  –  AGM Insured   No Opt. Call BBB- 2,799,600
    Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A:        
910   6.850%, 1/15/42 (6)   1/31 at 100.00 A- 840,130
3,610   5.750%, 1/15/46   1/24 at 100.00 Baa3 4,054,391
6,610   6.000%, 1/15/49   1/24 at 100.00 Baa3 7,574,135
2,425   Fullerton Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2005, 5.000%, 9/01/27  –  AMBAC Insured   9/19 at 100.00 A 2,471,827
    Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-1:        
8,295   5.000%, 6/01/47   6/22 at 100.00 N/R 7,859,512
12,240   5.250%, 6/01/47   6/22 at 100.00 N/R 12,078,432
10,500   Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2018A-2, 5.000%, 6/01/47   6/22 at 100.00 N/R 9,948,750
    Kern Community College District, California, General Obligation Bonds, Safety, Repair & Improvement, Election 2002 Series 2006:        
5,600   0.000%, 11/01/24  –  AGM Insured   No Opt. Call AA 4,984,000
5,795   0.000%, 11/01/25  –  AGM Insured   No Opt. Call AA 5,016,963
1,195   Lincoln Public Financing Authority, Placer County, California, Twelve Bridges Limited Obligation Revenue Bonds, Refunding Series 2011A, 4.375%, 9/02/25  –  AGM Insured   9/21 at 100.00 AA 1,261,932
7,575   Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 6.250%, 8/01/43 (6)   8/35 at 100.00 AA 6,440,644
3,310   M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B, 6.500%, 11/01/39   No Opt. Call BBB+ 4,560,882
    Oceanside Unified School District, San Diego County, California, General Obligation Bonds, Capital Appreciation, 2008 Election Series 2009A:        
605   0.000%, 8/01/26  –  AGC Insured (ETM)   No Opt. Call Aa3 (4) 513,530
5,300   0.000%, 8/01/26  –  AGC Insured   No Opt. Call Aa3 4,442,407
2,220   0.000%, 8/01/28  –  AGC Insured   No Opt. Call Aa3 1,730,779
1,925   Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue Bonds, Redevelopment Project 1, Series 1993, 5.850%, 8/01/22  –  NPFG Insured (ETM)   No Opt. Call N/R (4) 2,079,577
4,000   Orange County, California, Special Tax Bonds, Community Facilities District 2015-1 Esencia Village, Series 2015A, 4.250%, 8/15/38   8/25 at 100.00 N/R 4,082,280
5


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 5,000   Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 6.000%, 11/01/30 (Pre-refunded 11/01/20)   11/20 at 100.00 Ba1 (4) $5,376,250
3,700   Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/25  –  NPFG Insured   No Opt. Call BB+ 3,112,773
7,875   Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38  –  AGC Insured (6)   8/29 at 100.00 AA 10,011,487
9,145   Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999, 0.000%, 8/01/30  –  AMBAC Insured   No Opt. Call A 6,278,134
4,150   Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Refunding Series 2011, 6.250%, 10/01/28  –  AGM Insured   10/25 at 100.00 A2 4,655,926
670   Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series 2013A, 5.750%, 6/01/48   6/23 at 100.00 BBB- 729,422
    San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1 Marblehead Coastal, Series 2015:        
490   5.000%, 9/01/40   9/25 at 100.00 N/R 523,913
915   5.000%, 9/01/46   9/25 at 100.00 N/R 975,582
1,830   San Diego Public Facilities Financing Authority, California, Water Utility Revenue Bonds, Tender Option Bond Trust 2015-XF0098, 16.537%, 8/01/39 (Pre-refunded 8/01/19), 144A (IF)   8/19 at 100.00 N/R (4) 1,973,564
4,000   San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43   5/23 at 100.00 A+ 4,422,000
66,685   San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll Road Revenue Bonds, Series 1993, 0.000%, 1/01/21 (ETM)   No Opt. Call AA+ (4) 64,663,111
    San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2014A:        
2,680   5.000%, 1/15/44   1/25 at 100.00 BBB 2,883,600
8,275   5.000%, 1/15/50   1/25 at 100.00 BBB 8,881,061
7,210   San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/23  –  NPFG Insured   No Opt. Call Baa2 6,511,063
3,250   San Mateo County Community College District, California, General Obligation Bonds, Series 2006C, 0.000%, 9/01/30  –  NPFG Insured   No Opt. Call AAA 2,352,870
4,325   San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997 Election Series 2012G, 0.000%, 8/01/34  –  AGM Insured   No Opt. Call AA 2,395,661
5,690   San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/42   No Opt. Call A1 1,876,278
    Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and Housing Facility, Series 1994A:        
5,625   6.250%, 7/01/24   No Opt. Call Baa2 6,421,500
5,625   6.250%, 7/01/24 (ETM)   No Opt. Call Baa2 (4) 6,492,094
3,500   Saugus Union School District, Los Angeles County, California, General Obligation Bonds, Series 2006, 0.000%, 8/01/23  –  FGIC Insured   No Opt. Call A+ 3,192,175
4,495   Stockton-East Water District, California, Certificates of Participation, Refunding Series 2002B, 0.000%, 4/01/28  –  FGIC Insured   4/19 at 58.32 BBB- 2,600,043
6


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    California (continued)        
$ 610   Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017, 6.250%, 9/01/47, 144A   9/27 at 100.00 N/R $616,002
    Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Series 2005A-1:        
1,015   4.750%, 6/01/23   3/19 at 100.00 BB+ 1,020,177
1,600   5.500%, 6/01/45   4/19 at 100.00 B- 1,607,120
    Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporation, Senior Series 2006A:        
790   4.750%, 6/01/25   4/19 at 100.00 BBB+ 790,008
5,865   5.125%, 6/01/46   4/19 at 100.00 B2 5,865,059
511,025   Total California       496,175,033
    Colorado – 10.2% (6.3% of Total Investments)        
    Base Village Metropolitan District 2, Colorado, General Obligation Bonds, Refunding Series 2016A:        
890   5.500%, 12/01/36   12/21 at 103.00 N/R 892,563
1,175   5.750%, 12/01/46   12/21 at 103.00 N/R 1,181,239
1,100   Belleview Station Metropolitan District 2, Denver City and County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Refunding & Improvement Series 2017, 5.000%, 12/01/36   12/21 at 103.00 N/R 1,117,138
700   Brighton Crossing Metropolitan District 4, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2017A, 5.000%, 12/01/47   12/22 at 103.00 N/R 708,834
3,410   Canyons Metropolitan District 5, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding & Improvement Series 2017A, 6.125%, 12/01/47   12/22 at 103.00 N/R 3,425,652
1,690   Canyons Metropolitan District 6, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding & Improvement Series 2017A, 6.125%, 12/01/47   12/22 at 103.00 N/R 1,648,527
    Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017:        
1,140   5.000%, 12/01/37, 144A   12/22 at 103.00 N/R 1,155,048
5,465   5.000%, 12/01/47, 144A   12/22 at 103.00 N/R 5,477,132
195   Central Platte Valley Metropolitan District, Colorado, General Obligation Bonds, Refunding Series 2014, 5.000%, 12/01/43   12/23 at 100.00 BB 203,991
1,200   Clear Creek Station Metropolitan District 2, Adams County, Colorado, Limited Tax General Obligation Refunding & Improvement Series 2017A, 5.000%, 12/01/47   12/22 at 103.00 N/R 1,206,804
930   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+ 823,841
1,165   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, The Classical Academy Project, Refunding Series 2015A, 5.000%, 12/01/38   12/24 at 100.00 A+ 1,253,761
3,675   Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Vanguard School Project, Refunding & Improvement Series 2016, 3.750%, 6/15/47   6/26 at 100.00 A+ 3,419,514
7


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
$ 1,750   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+ $1,468,653
    Colorado Health Facilities Authority, Colorado, Health Facilities Revenue Bonds, The Evangelical Lutheran Good Samaritan Society Project, Refunding Series 2017:        
2,460   5.000%, 6/01/42   6/27 at 100.00 BBB 2,636,185
23,470   5.000%, 6/01/47   6/27 at 100.00 BBB 25,099,522
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A:        
1,500   5.000%, 9/01/36   4/19 at 100.00 BBB+ 1,510,875
3,680   4.500%, 9/01/38   4/19 at 100.00 BBB+ 3,684,637
3,000   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2011A, 5.000%, 2/01/41   2/21 at 100.00 BBB+ 3,089,910
11,520   Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45   1/23 at 100.00 BBB+ 12,211,200
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Retirement Communities Inc, Refunding Series 2012B:        
1,640   5.000%, 12/01/22   No Opt. Call A- 1,799,310
2,895   5.000%, 12/01/23   12/22 at 100.00 A- 3,188,495
4,200   5.000%, 12/01/24   12/22 at 100.00 A- 4,616,052
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013:        
765   5.500%, 6/01/33   6/23 at 100.00 BBB 834,539
1,575   5.625%, 6/01/43   6/23 at 100.00 BBB 1,710,135
    Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A:        
1,410   5.000%, 6/01/32   6/25 at 100.00 BBB 1,527,340
2,000   5.000%, 6/01/33   6/25 at 100.00 BBB 2,159,380
5,855   5.000%, 6/01/40   6/25 at 100.00 BBB 6,216,019
6,820   5.000%, 6/01/45   6/25 at 100.00 BBB 7,201,306
2,035   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+ 2,166,888
11,830   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- 12,117,351
4,105   Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2018, 5.875%, 12/01/46   12/23 at 103.00 N/R 4,286,277
500   Copperleaf Metropolitan District 2, Arapahoe County, Colorado, General Obligation Bonds, Refunding Limited Tax Convertible to Unlimited Tax Series 2015, 5.750%, 12/01/45   12/20 at 103.00 N/R 521,295
500   Copperleaf Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series 2006, 5.250%, 12/01/30   12/20 at 103.00 N/R 522,020
1,480   Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A, 5.250%, 12/01/47   12/22 at 103.00 N/R 1,511,361
8


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
$ 1,275   Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017B, 5.250%, 12/01/47   12/22 at 103.00 N/R $1,298,307
500   Crystal Crossing Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.250%, 12/01/40   12/25 at 100.00 N/R 499,315
10,640   Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43   11/23 at 100.00 A 11,715,172
505   Denver Connection West Metropolitan District, City and County of Denver, Colorado, Limited Tax General Obligation Bonds, Convertible to Unlimited Tax Series 2017A, 5.375%, 8/01/47   12/22 at 103.00 N/R 506,818
1,005   Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopement Area, Series 2018A, 5.250%, 12/01/39, 144A   12/23 at 103.00 N/R 1,003,663
2,310   Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopment Area, Series 2018A, 5.250%, 12/01/39, 144A   12/23 at 103.00 N/R 2,323,075
11,700   E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Capital Appreciation Series 2010A, 0.000%, 9/01/41   No Opt. Call BBB+ 4,618,692
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B:        
35,995   0.000%, 9/01/23  –  NPFG Insured   No Opt. Call BBB+ 32,200,407
6,525   0.000%, 9/01/26  –  NPFG Insured   No Opt. Call BBB+ 5,277,877
    E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:        
17,030   0.000%, 9/01/25  –  NPFG Insured   No Opt. Call BBB+ 14,295,323
9,915   0.000%, 9/01/32  –  NPFG Insured   No Opt. Call BBB+ 6,067,980
43,090   0.000%, 9/01/33  –  NPFG Insured   No Opt. Call BBB+ 25,144,739
    E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A:        
20,000   0.000%, 9/01/27  –  NPFG Insured   No Opt. Call BBB+ 15,545,600
1,150   0.000%, 9/01/28  –  NPFG Insured   No Opt. Call BBB+ 856,601
7,000   0.000%, 9/01/34  –  NPFG Insured   No Opt. Call A 3,894,660
500   Erie Highlands Metropolitan District No 1 (In the Town of Erie), Weld County, Colorado, General Obligation Limited Tax Bonds, Series 2015A, 5.750%, 12/01/45   12/20 at 103.00 N/R 503,510
500   Flatiron Meadows Metropolitan District, Boulder County, Colorado, General Obligation Limited Tax Bonds, Series 2016, 5.125%, 12/01/46   12/21 at 103.00 N/R 478,200
590   Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014, 6.000%, 12/01/38   12/24 at 100.00 N/R 599,782
825   Forest Trace Metropolitan District 3, Aurora City, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Series 2016A, 5.000%, 12/01/46   12/21 at 103.00 N/R 785,681
1,355   Great Western Park Metropolitan District 2, Broomfield City and County, Colorado, General Obligation Bonds, Series 2016A, 5.000%, 12/01/46   12/21 at 100.00 N/R 1,336,857
750   Green Gables Metropolitan District No 1, Jefferson County, Colorado, General Obligation Bonds, Series 2016A, 5.300%, 12/01/46   12/21 at 103.00 N/R 754,230
700   Harmony Technology Park Metropolitan District 2, Fort Collins, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax Series 2017, 5.000%, 9/01/47   12/22 at 103.00 N/R 679,259
3,740   Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Revenue Bonds, Refunding Series 2015, 5.500%, 12/01/45   12/20 at 103.00 N/R 3,607,641
9


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Johnstown Plaza Metropolitan District, Colorado, Special Revenue Bonds, Series 2016A:        
$ 2,325   5.250%, 12/01/36   12/21 at 103.00 N/R $2,246,508
8,955   5.375%, 12/01/46   12/21 at 103.00 N/R 8,567,517
    Lambertson Farms Metropolitan District 1, Colorado, Revenue Bonds, Refunding & Improvement Series 2015:        
1,005   5.750%, 12/15/46   12/23 at 100.00 N/R 1,000,769
5,355   6.000%, 12/15/50   12/23 at 100.00 N/R 5,331,920
980   Leyden Rock Metropolitan District No 10, In the City of Arvada, Colorado, Limited Tax General Obligation Bonds, Refunding and Improvement Series 20016A, 5.000%, 12/01/45   12/21 at 103.00 N/R 984,351
500   Littleton Village Metropolitan District No 2, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Series 2015, 5.375%, 12/01/45   12/20 at 103.00 N/R 506,415
860   Mountain Shadows Metropolitan District, Colorado, General Obligation Limited Tax Bonds, Refunding Series 2016, 5.000%, 12/01/35   12/25 at 100.00 N/R 874,353
5,155   North Range Metropolitan District 1, Adams County, Colorado, General Obligation Bonds, Series 2016B, 3.500%, 12/01/45   12/25 at 100.00 Baa1 4,912,818
    North Range Metropolitan District No 2 , In the City of Commerce City, Adams County, Colorado , Limited Tax General Obligation and Special Revenue and Improvement Bonds, Refunding Series 2017A:        
1,000   5.625%, 12/01/37   12/22 at 103.00 N/R 994,740
1,000   5.750%, 12/01/47   12/22 at 103.00 N/R 992,940
585   Overlook Metropolitan District in the Town of Parker, Douglas County, Colorado, General Obligation Limited Tax Bonds, Series 2016A, 5.500%, 12/01/46   12/21 at 103.00 N/R 552,392
    Park 70 Metropolitan District, City of Aurora, Colorado, General Obligation Refunding and Improvement Bonds, Series 2016:        
660   5.000%, 12/01/36   12/26 at 100.00 Baa3 703,474
1,060   5.000%, 12/01/46   12/26 at 100.00 Baa3 1,113,827
660   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 712,952
880   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 AA (4) 949,661
5,435   Poudre Tech Metro District, Colorado, Unlimited Property Tax Supported Revenue Bonds, Refunding & Improvement Series 2010A, 5.000%, 12/01/39  –  AGM Insured   12/20 at 100.00 AA 5,625,388
2,760   Prairie Center Metopolitan District No 3, In the City of Brighton, Adams County, Colorado, Limited Property Tax Supported Primary Improvements Revenue Bonds, Refunding Series 2017A, 5.000%, 12/15/41, 144A   12/26 at 100.00 N/R 2,788,428
    Reata South Metropolitan District, Douglas County, Colorado, Limited Tax General Obligation Bonds, Refunding Series 2018:        
1,310   5.375%, 12/01/37   12/23 at 103.00 N/R 1,309,122
2,765   5.500%, 12/01/47   12/23 at 103.00 N/R 2,766,493
1,180   Regional Transportation District, Colorado, Certificates of Participation, Series 2010A, 5.375%, 6/01/31   6/20 at 100.00 AA- 1,230,988
10


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Colorado (continued)        
    Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010:        
$ 6,500   6.500%, 1/15/30   7/20 at 100.00 Baa3 $6,602,700
3,750   6.000%, 1/15/41   7/20 at 100.00 BBB+ 3,815,250
1,280   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 1,298,342
930   SouthGlenn Metropolitan District, Colorado, Special Revenue Bonds, Refunding Series 2016, 5.000%, 12/01/46   12/21 at 103.00 N/R 920,282
1,000   St Vrain Lakes Metropolitan District No 2, Weld County, Colorado, Limited Tax General Obligation Bonds, Series 2017A, 5.000%, 12/01/37   12/22 at 103.00 N/R 996,310
    Sterling Ranch Community Authority Board, Douglas County, Colorado, Limited Tax Supported Revenue Bonds, Senior Series 2015A:        
500   5.500%, 12/01/35   12/20 at 103.00 N/R 511,205
1,000   5.750%, 12/01/45   12/20 at 103.00 N/R 1,020,130
500   Table Mountain Metropolitan District, Jefferson County, Colorado, Limited Tax General Obligation Bonds, Series 2016A, 5.250%, 12/01/45   12/21 at 103.00 N/R 514,605
8,500   University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42   11/22 at 100.00 AA- 9,258,540
363,715   Total Colorado       325,688,603
    Connecticut – 0.5% (0.3% of Total Investments)        
590   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc Project, Series 2016A, 5.000%, 9/01/46, 144A   9/26 at 100.00 BB 598,148
740   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 2016A, 5.000%, 9/01/53, 144A   9/26 at 100.00 BB 742,745
10,105   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L, 4.125%, 7/01/41   7/25 at 100.00 A- 10,349,036
3,250   Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University, Series 2010G, 5.000%, 7/01/39 (Pre-refunded 7/01/20)   7/20 at 100.00 AA (4) 3,400,898
14,685   Total Connecticut       15,090,827
    Delaware – 0.2% (0.1% of Total Investments)        
2,615   Delaware Economic Development Authority, Exempt Facility Revenue Bonds, Indian River Power LLC Project, Series 2010, 5.375%, 10/01/45   10/20 at 100.00 Baa3 2,702,602
    Kent County, Delaware, Student Housing & Dining Facility Revenue Bonds, Collegiate Housing Foundation - Dover LLC Delaware State University Project, Series 2018A:        
2,585   5.000%, 7/01/53   1/28 at 100.00 BBB- 2,719,601
1,000   5.000%, 7/01/58   1/28 at 100.00 BBB- 1,043,790
6,200   Total Delaware       6,465,993
    District of Columbia – 1.3% (0.8% of Total Investments)        
3,780   District of Columbia Student Dormitory Revenue Bonds, Provident Group - Howard Properties LLC Issue, Series 2013, 5.000%, 10/01/45   10/22 at 100.00 BB+ 3,789,752
11


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    District of Columbia (continued)        
$ 6,205   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2001, 6.500%, 5/15/33   No Opt. Call Baa1 $6,691,224
186,000   District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 0.000%, 6/15/46   3/19 at 100.00 N/R 28,781,640
1,500   District of Columbia, Revenue Bonds, Ingleside at Rock Creek Project, Series 2017A, 5.000%, 7/01/42   7/24 at 103.00 N/R 1,503,000
197,485   Total District of Columbia       40,765,616
    Florida – 5.5% (3.4% of Total Investments)        
990   Bexley Community Development District, Pasco County, Florida, Special Assessment Revenue Bonds, Series 2016, 4.700%, 5/01/36   5/26 at 100.00 N/R 986,456
19,000   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) 20,643,120
    Capital Trust Agency, Florida, Revenue Bonds, Babcock Neighborhood School Inc, Series 2018:        
1,290   6.100%, 8/15/38, 144A   8/28 at 100.00 N/R 1,268,315
1,045   6.200%, 8/15/48, 144A   8/28 at 100.00 N/R 1,021,456
    Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter School Project, Series 2017A:        
1,065   5.375%, 7/01/37, 144A   7/27 at 100.00 BB 1,046,022
1,470   5.500%, 7/01/47, 144A   7/27 at 100.00 BB 1,426,767
4,325   Capital Trust Agency, Florida, Revenue Bonds, Provision CARES Proton Therapy Center, Orlando Project, Series 2018, 7.500%, 6/01/48, 144A   6/28 at 100.00 N/R 4,455,745
    Capital Trust Agency, Florida, Revenue Bonds, Renaissance Charter School Project, Series 2017A:        
6,050   5.125%, 6/15/37, 144A   6/27 at 100.00 N/R 5,663,223
1,890   5.250%, 6/15/47, 144A   6/27 at 100.00 N/R 1,732,204
880   Capital Trust Agency, Florida, Revenue Bonds, Viera Charter School Project, Series 2017A, 5.000%, 10/15/37, 144A   10/27 at 100.00 Ba2 879,938
4,670   City of Miami Beach, Florida, Stormwater Revenue Bonds, Series 2015, 5.000%, 9/01/41   9/25 at 100.00 AA- 5,202,847
1,025   Cityplace Community Development District, Florida, Special Assessement and Revenue Bonds, Refunding Series 2012, 5.000%, 5/01/26   No Opt. Call A 1,149,681
1,480   Collier County Educational Facilities Authority, Florida, Revenue Bonds, Hodges University, Refunding Series 2013, 6.125%, 11/01/43   11/23 at 100.00 BBB- 1,600,561
    Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-1:        
245   5.250%, 11/01/37   11/28 at 100.00 N/R 248,714
320   5.600%, 11/01/46   11/28 at 100.00 N/R 328,502
270   Creekside at Twin Creeks Community Development District, Florida, Special Assessment Bonds, Area 1 Project, Series 2016A-2, 5.625%, 11/01/35   No Opt. Call N/R 277,817
    Davie, Florida, Educational Facilities Revenue Bonds, Nova Southeastern University Project, Refunding Series 2013A:        
3,445   6.000%, 4/01/42   4/23 at 100.00 Baa1 3,877,485
1,720   5.625%, 4/01/43   4/23 at 100.00 Baa1 1,900,101
12


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$ 4,000   Davie, Florida, Water and Sewerage Revenue Bonds, Series 2011, 5.000%, 10/01/41  –  AGM Insured   10/21 at 100.00 A1 $4,288,600
    Downtown Doral Community Development District, Florida, Special Assessment Bonds, Series 2015:        
280   5.250%, 5/01/35   5/26 at 100.00 N/R 283,676
315   5.300%, 5/01/36   5/26 at 100.00 N/R 319,130
475   5.500%, 5/01/45   5/26 at 100.00 N/R 478,620
655   5.500%, 5/01/46   5/26 at 100.00 N/R 659,605
    Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A:        
255   6.000%, 6/15/37, 144A   6/26 at 100.00 N/R 260,758
665   6.125%, 6/15/46, 144A   6/26 at 100.00 N/R 678,852
415   Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2018A, 6.000%, 6/15/37, 144A   6/26 at 100.00 N/R 402,405
    Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Downtown Doral Charter Upper School Project, Series 2017C:        
2,375   5.650%, 7/01/37, 144A   7/27 at 101.00 N/R 2,282,969
3,735   5.750%, 7/01/47, 144A   7/27 at 101.00 N/R 3,535,290
    Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Florida Charter Foundation Inc Projects, Series 2016A:        
1,485   6.250%, 6/15/36, 144A   6/26 at 100.00 N/R 1,566,274
2,075   4.750%, 7/15/36, 144A   7/26 at 100.00 N/R 1,966,395
3,770   6.375%, 6/15/46, 144A   6/26 at 100.00 N/R 3,974,221
1,335   5.000%, 7/15/46, 144A   7/26 at 100.00 N/R 1,253,538
    Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A:        
3,090   6.000%, 6/15/35, 144A   6/25 at 100.00 N/R 3,176,767
3,450   6.125%, 6/15/46, 144A   6/25 at 100.00 N/R 3,504,958
550   Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2014A, 6.125%, 6/15/44   6/24 at 100.00 N/R 575,075
4,430   Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Southwest Charter Foundation Inc Projects, Series 2017A, 6.125%, 6/15/47, 144A   6/27 at 100.00 N/R 4,433,898
1,435   Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special Assessment Bonds, South Parcel Assessment Area Project, Series 2016, 4.750%, 5/01/36   5/26 at 100.00 N/R 1,421,568
560   Hillsborough County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, University Community Hospital, Series 1994, 6.500%, 8/15/19  –  NPFG Insured (ETM)   No Opt. Call Aaa (4) 574,314
    Indian Trace Development District, Florida, Water Management Special Benefit Assessment Bonds, Series 2005:        
1,645   5.000%, 5/01/25  –  NPFG Insured   5/19 at 100.00 Baa2 1,652,945
1,830   5.000%, 5/01/27  –  NPFG Insured   5/19 at 100.00 Baa2 1,837,448
13


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
$ 600   Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/30   10/22 at 100.00 A2 $654,744
2,215   Jacksonville, Florida, Educational Facilities Revenue Bonds, Jacksonville University Project, Series 2018B, 5.000%, 6/01/53, 144A   6/28 at 100.00 N/R 2,274,672
1,000   Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Refunding Series 2011, 5.000%, 11/15/25   11/21 at 100.00 A2 1,075,370
625   Lakewood Ranch Stewardship District, Florida, Special Assessment Revenue Bonds, Del Webb Project, Series 2017, 5.000%, 5/01/37, 144A   5/27 at 100.00 N/R 634,231
4,125   Martin County Health Facilities Authority, Florida, Hospital Revenue Bonds, Martin Memorial Medical Center, Series 2015, 5.000%, 11/15/45   11/24 at 100.00 Baa1 4,340,119
    Miami Dade County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, South Florida Autism Charter School Project, Series 2017:        
1,080   5.875%, 7/01/37, 144A   7/27 at 100.00 N/R 1,042,859
1,920   6.000%, 7/01/47, 144A   7/27 at 100.00 N/R 1,829,530
5,965   Miami Dade County, Florida, Rickenbacker Causeway Revenue Bonds, Series 2014, 5.000%, 10/01/43   10/24 at 100.00 BBB+ 6,481,032
2,130   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 2,288,578
1,545   Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, Refunding Series 2011A, 6.000%, 2/01/31 (Pre-refunded 2/01/21)  –  AGM Insured   2/21 at 100.00 A+ (4) 1,676,140
5,000   Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2014A, 5.000%, 7/01/44   7/24 at 100.00 A 5,506,200
2,500   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/41 (Pre-refunded 10/01/20)   10/20 at 100.00 A2 (4) 2,651,650
2,500   Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/30   10/20 at 100.00 A 2,617,900
2,400   Miami-Dade County, Florida, Special Obligation Bonds, Refunding Subordinate Series 2012B, 5.000%, 10/01/37   10/22 at 100.00 A2 2,612,832
6,305   Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A, 5.000%, 10/01/42   10/22 at 100.00 A+ 6,852,589
4,785   Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds, Development Unit 53, Series 2015, 5.350%, 8/01/35   8/26 at 100.00 N/R 5,054,491
4,250   Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc., Series 2012A, 5.000%, 10/01/42   4/22 at 100.00 A2 4,502,832
230   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 257,225
60   Pasco County, Florida, Water and Sewer Revenue Bonds, Refunding Series 2006, 5.000%, 10/01/36  –  AGM Insured   4/19 at 100.00 Aa2 60,166
825   Reunion West Community Development District, Florida, Special Assessment Bonds, Area 3 Project, Series 2016, 5.000%, 11/01/46   11/26 at 100.00 N/R 816,387
1,410   Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding & Improvement Series 1992, 6.000%, 10/01/19  –  NPFG Insured (ETM)   No Opt. Call Aa2 (4) 1,450,425
14


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Florida (continued)        
    Six Mile Creek Community Development District, Florida, Capital Improvement Revenue Bonds, Assessment Area 2, Series 2016:        
$ 230   4.750%, 11/01/28   11/27 at 100.00 N/R $231,911
385   5.375%, 11/01/36   11/27 at 100.00 N/R 389,112
925   South Fork III Community Development District, Florida, Special Assessment Revenue Bonds, Refunding Series 2016, 5.375%, 5/01/37   5/27 at 100.00 N/R 943,741
1,200   St Lucie County, Florida, Utility System Revenue Refunding Bonds, Series 1993, 5.500%, 10/01/21  –  FGIC Insured (ETM)   No Opt. Call N/R (4) 1,314,384
400   Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 (Pre-refunded 10/01/19)  –  AGC Insured   10/19 at 100.00 AA (4) 408,864
4,100   Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33   5/22 at 100.00 Aa2 4,458,586
945   Tampa, Florida, Healthcare System Revenue Bonds, Allegany Health System - St Joseph's Hospital, Series 1993, 5.125%, 12/01/23  –  NPFG Insured (ETM)   No Opt. Call Aaa (4) 947,599
10,095   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) 11,165,171
2,000   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Embry-Riddle Aeronautical University, Inc Project, Refunding Series 2011, 5.000%, 10/15/29 (Pre-refunded 10/15/21)  –  AGM Insured   10/21 at 100.00 A- (4) 2,169,920
5,000   Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015, 5.000%, 6/01/40   6/25 at 100.00 A- 5,564,500
166,755   Total Florida       175,110,020
    Georgia – 4.2% (2.6% of Total Investments)        
    Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2009B:        
5,915   5.375%, 11/01/39  –  AGM Insured   11/19 at 100.00 AA- 6,062,816
11,085   5.375%, 11/01/39 (Pre-refunded 11/01/19)  –  AGM Insured   11/19 at 100.00 AA (4) 11,391,168
22,085   Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Oglethorpe Power Corporation Vogtle Project, Series 2017C, 4.125%, 11/01/45   2/28 at 100.00 BBB+ 21,541,709
12,765   Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Oglethorpe Power Corporation Vogtle Project, Series 2017D, 4.125%, 11/01/45   2/28 at 100.00 BBB+ 12,449,194
2,825   Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007, 4.000%, 8/01/26   8/20 at 100.00 AA 2,899,636
4,000   Cobb County Kennestone Hospital Authority, Georgia, Revenue Anticipation Certificates, Refunding Series 2012, 5.000%, 4/01/28   4/23 at 100.00 A 4,390,840
1,250   DeKalb County Hospital Authority, Georgia, Anticipation Certificates Revenue Bonds, DeKalb Medical Center, Inc Project, Series 2010, 6.000%, 9/01/30 (Pre-refunded 9/01/20)   9/20 at 100.00 N/R (4) 1,330,138
2,000   Fairburn, Georgia, General Obligation Bonds, Series 2011, 5.750%, 12/01/31 (Pre-refunded 12/01/21)  –  AGM Insured   12/21 at 100.00 A2 (4) 2,221,860
    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc, Series 2010B:        
960   5.125%, 2/15/40   2/20 at 100.00 AA- 985,872
3,090   5.125%, 2/15/40 (Pre-refunded 2/15/20)   2/20 at 100.00 N/R (4) 3,195,060
15


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Georgia (continued)        
$ 15,305   Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc, Series 2014A, 5.500%, 8/15/54   2/25 at 100.00 AA- $17,383,266
    Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2010B:        
1,180   5.250%, 2/15/37   2/20 at 100.00 AA- 1,215,365
3,820   5.250%, 2/15/37 (Pre-refunded 2/15/20)   2/20 at 100.00 N/R (4) 3,954,731
    Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2018A:        
6,760   3.950%, 12/01/43   6/27 at 100.00 AAA 6,797,856
5,000   4.000%, 12/01/48   6/27 at 100.00 AAA 5,031,500
10,825   Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2015A, 5.000%, 7/01/60   7/25 at 100.00 Baa3 10,960,637
2,250   Gwinnett County Hospital Authority, Georgia, Revenue Anticipation Certificates, Gwinnett Hospital System Inc Project, Series 2007C, 5.500%, 7/01/39  –  AGM Insured   7/19 at 100.00 A2 2,276,887
1,300   Macon-Bibb County Urban Development Authority, Georgia, Revenue Bonds, Academy for Classical Education, Series 2017, 5.750%, 6/15/37, 144A   6/27 at 100.00 N/R 1,301,599
4,000   Marietta Development Authority, Georgia, University Facilities Revenue Bonds, Life University, Inc Project, Refunding Series 2017A, 5.000%, 11/01/37, 144A   11/27 at 100.00 Ba3 4,190,080
1,000   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Refunding Series 2012C, 5.250%, 10/01/27   10/22 at 100.00 Baa2 1,078,800
10,090   Private Colleges and Universities Authority, Georgia, Revenue Bonds, Mercer University, Series 2015, 5.000%, 10/01/40   10/25 at 100.00 Baa2 10,649,995
1,710   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- 1,818,773
129,215   Total Georgia       133,127,782
    Guam – 0.0% (0.0% of Total Investments)        
650   Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013, 5.500%, 7/01/43   7/23 at 100.00 A- 692,322
    Hawaii – 0.4% (0.2% of Total Investments)        
1,500   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Chaminade University of Honolulu, Series 2015A, 5.000%, 1/01/45, 144A   1/25 at 100.00 Ba3 1,412,745
5,000   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 5,518,950
170   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University, Series 2013A, 6.875%, 7/01/43   7/23 at 100.00 BB 176,268
5,075   Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A, 4.000%, 7/01/40   7/25 at 100.00 A1 5,178,479
11,745   Total Hawaii       12,286,442
    Idaho – 0.8% (0.5% of Total Investments)        
    Idaho Health Facilities Authority, Revenue Bonds, Kootenai Health Project, Series 2014:        
3,300   4.375%, 7/01/34, 144A   7/24 at 100.00 A 3,409,824
12,495   4.750%, 7/01/44, 144A   7/24 at 100.00 A 12,952,442
16


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Idaho (continued)        
$ 250   Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project, Refunding Series 2016, 5.000%, 9/01/37   9/26 at 100.00 BB+ $265,017
8,730   Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2012A, 5.000%, 3/01/47   3/22 at 100.00 A- 9,178,635
1,000   Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2014A, 4.125%, 3/01/37   3/24 at 100.00 A- 1,010,240
25,775   Total Idaho       26,816,158
    Illinois – 26.2% (16.3% of Total Investments)        
675   Bolingbrook, Illinois, General Obligation Bonds, Refunding Series 2013A, 5.000%, 1/01/25   7/23 at 100.00 A2 753,678
67,135   Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46   4/27 at 100.00 A 76,549,341
1,000   Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017, 5.000%, 4/01/46   4/27 at 100.00 A 1,061,820
    Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2011A:        
6,210   5.500%, 12/01/39   12/21 at 100.00 B2 6,313,272
1,865   5.000%, 12/01/41   12/21 at 100.00 B2 1,867,779
5,175   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A, 5.000%, 12/01/42   12/22 at 100.00 B2 5,192,492
8,400   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B, 7.000%, 12/01/42, 144A   12/27 at 100.00 B+ 9,941,820
    Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H:        
5,835   5.000%, 12/01/36   12/27 at 100.00 B+ 6,002,348
4,940   5.000%, 12/01/46   12/27 at 100.00 B+ 4,971,171
6,055   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018D, 5.000%, 12/01/46   12/28 at 100.00 B+ 6,106,044
38,905   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A, 7.000%, 12/01/44   12/25 at 100.00 B+ 44,562,954
14,805   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016B, 6.500%, 12/01/46   12/26 at 100.00 B+ 16,624,534
19,585   Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A, 7.000%, 12/01/46, 144A   12/27 at 100.00 B+ 23,085,819
1,315   Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/30  –  NPFG Insured   No Opt. Call B+ 810,934
2,235   Chicago Transit Authority, Illinois, Capital Grant Receipts Revenue Bonds, Federal Transit Administration Section 5307 Urbanized Area Formula Funds, Refunding Series 2011, 5.250%, 6/01/26  –  AGM Insured   6/21 at 100.00 A2 2,378,643
1,100   Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011, 5.250%, 12/01/40   12/21 at 100.00 A3 1,156,749
12,215   Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2014, 5.250%, 12/01/49   12/24 at 100.00 AA 13,352,216
17


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 7,700   Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Third Lien Refunding Series 2010C, 5.250%, 1/01/35  –  AGC Insured   1/20 at 100.00 A2 $7,917,679
    Chicago, Illinois, General Obligation Bonds, City Colleges, Series 1999:        
1,500   0.000%, 1/01/31  –  NPFG Insured   No Opt. Call BBB- 924,030
32,670   0.000%, 1/01/32  –  FGIC Insured   No Opt. Call BBB- 19,104,436
12,360   0.000%, 1/01/37  –  FGIC Insured   No Opt. Call BBB- 5,531,842
960   Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2007A, 5.000%, 1/01/27  –  AMBAC Insured   4/19 at 100.00 Ba1 962,688
2,500   Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2014A, 5.250%, 1/01/33   1/24 at 100.00 Ba1 2,608,475
17,605   Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, 6.000%, 1/01/38   1/27 at 100.00 BBB- 19,692,777
890   Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2009C, 5.000%, 1/01/34   4/19 at 100.00 Ba1 891,638
1,000   Chicago, Illinois, General Obligation Bonds, Project Series 2011A, 5.250%, 1/01/35   1/21 at 100.00 Ba1 1,015,900
10,200   Chicago, Illinois, General Obligation Bonds, Project Series 2012A, 5.000%, 1/01/33   1/22 at 100.00 Ba1 10,398,390
2,605   Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/38   1/26 at 100.00 BBB- 2,698,702
3,000   Chicago, Illinois, Wastewater Transmission Revenue Bonds, Second Lien Series 2008C, 5.000%, 1/01/39   1/25 at 100.00 A 3,236,550
10,000   Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City Colleges, Series 2013, 5.250%, 12/01/43   12/23 at 100.00 BBB 10,312,600
    DeKalb, Kane, LaSalle, Lee, Ogle, Winnebago and Boone Counties Community College District 523, Illinois, General Obligation Bonds, Kishwaukee Community College, Series 2011B:        
2,500   0.000%, 2/01/33   2/21 at 100.00 AA- 1,062,750
2,000   0.000%, 2/01/34   2/21 at 100.00 AA- 788,400
    Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History, Series 2002RMKT:        
2,500   4.450%, 11/01/36   11/25 at 102.00 A2 2,621,675
3,400   5.500%, 11/01/36   11/23 at 100.00 A 3,724,088
3,295   Illinois Educational Facilities Authority, Revenue Bonds, Robert Morris College, Series 2000, 5.800%, 6/01/30  –  NPFG Insured   6/19 at 100.00 Baa2 3,303,435
    Illinois Finance Authority, Charter School Revenue Bonds, Intrinsic Charter Schools Belmont School Project, Series 2015A:        
1,700   5.750%, 12/01/35, 144A   12/25 at 100.00 N/R 1,716,065
115   6.000%, 12/01/45, 144A   12/25 at 100.00 N/R 115,627
    Illinois Finance Authority, Illinois, Rosalind Franklin University Revenue Bonds, Research Building Project, Series 2017C:        
1,000   5.000%, 8/01/42   8/27 at 100.00 BBB+ 1,070,650
1,000   5.000%, 8/01/46   8/27 at 100.00 BBB+ 1,066,940
1,000   5.000%, 8/01/47   8/27 at 100.00 BBB+ 1,066,200
6,500   Illinois Finance Authority, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.750%, 10/15/40   10/20 at 100.00 B2 6,788,925
18


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 39,675   Illinois Finance Authority, Revenue Bonds, Ascension Health/fkaPresence Health Network, Series 2016C, 4.000%, 2/15/41   2/27 at 100.00 Aa2 $40,082,462
6,750   Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38   9/22 at 100.00 AA+ 7,216,087
    Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2014A:        
1,485   5.000%, 9/01/34   9/24 at 100.00 AA+ 1,654,142
19,025   5.000%, 9/01/42   9/24 at 100.00 AA+ 20,831,614
1,750   Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013, 4.250%, 5/15/43   5/22 at 100.00 Baa2 1,760,553
4,300   Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2009, 5.500%, 4/01/34   4/19 at 100.00 A1 4,326,144
15,805   Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016, 5.000%, 12/01/46   6/26 at 100.00 A3 16,830,112
1,630   Illinois Finance Authority, Revenue Bonds, Northwestern Memorial HealthCare, Series 2013, 5.000%, 8/15/37   8/22 at 100.00 Aa2 1,769,740
    Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A:        
25   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 25,791
2,475   7.750%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 2,553,334
1,435   Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43   7/23 at 100.00 A- 1,573,564
    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 610,702
6,140   5.000%, 8/15/44   8/25 at 100.00 Baa1 6,555,187
5,735   Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 7.000%, 8/15/44 (Pre-refunded 8/15/19)   8/19 at 100.00 N/R (4) 5,893,859
8,960   Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%, 8/15/41  –  AGM Insured   8/21 at 100.00 A2 9,744,986
    Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C:        
1,150   5.500%, 8/15/41 (Pre-refunded 2/15/21)   2/21 at 100.00 AA- (4) 1,234,456
4,500   5.500%, 8/15/41 (Pre-refunded 2/15/21) (UB) (5)   2/21 at 100.00 AA- (4) 4,830,480
20,000   Illinois Finance Authority, Revenue Bonds, University of Chicago, Refunding Series 2015A, 5.000%, 10/01/46 (UB) (5)   10/25 at 100.00 AA- 22,345,400
19,975   Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51   10/21 at 100.00 AA+ 21,175,897
3,665   Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014, 5.250%, 6/15/31  –  AGM Insured   6/24 at 100.00 BBB- 4,066,794
    Illinois State, General Obligation Bonds, February Series 2014:        
3,200   5.250%, 2/01/32   2/24 at 100.00 BBB- 3,345,472
2,000   5.250%, 2/01/33   2/24 at 100.00 BBB- 2,084,540
1,575   5.250%, 2/01/34   2/24 at 100.00 BBB- 1,637,260
7,500   5.000%, 2/01/39   2/24 at 100.00 BBB- 7,629,075
19


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
$ 5,000   Illinois State, General Obligation Bonds, June Series 2016, 4.000%, 6/01/35   6/26 at 100.00 BBB- $4,614,650
    Illinois State, General Obligation Bonds, May Series 2014:        
510   5.000%, 5/01/36   5/24 at 100.00 BBB- 522,949
3,245   5.000%, 5/01/39   5/24 at 100.00 BBB- 3,306,136
    Illinois State, General Obligation Bonds, November Series 2016:        
11,800   5.000%, 11/01/40   11/26 at 100.00 BBB- 12,134,648
13,200   5.000%, 11/01/41   11/26 at 100.00 BBB- 13,548,348
    Illinois State, General Obligation Bonds, November Series 2017D:        
1,540   5.000%, 11/01/27   No Opt. Call BBB- 1,672,686
31,060   5.000%, 11/01/28   11/27 at 100.00 BBB- 33,592,322
5,000   Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/29   2/27 at 100.00 BBB- 5,342,650
2,625   Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/24   1/20 at 100.00 BBB- 2,668,785
    Illinois State, General Obligation Bonds, Refunding Series 2012:        
3,425   5.000%, 8/01/23   No Opt. Call BBB- 3,651,495
1,190   5.000%, 8/01/25   8/22 at 100.00 BBB- 1,245,002
    Illinois State, General Obligation Bonds, Series 2013:        
2,000   5.250%, 7/01/31   7/23 at 100.00 BBB- 2,086,080
2,990   5.500%, 7/01/38   7/23 at 100.00 BBB- 3,122,816
5,000   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/35   1/23 at 100.00 AA- 5,458,650
18,920   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A, 5.000%, 1/01/40   7/25 at 100.00 AA- 21,239,592
1,395   Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 2015-XF0051, 14.496%, 1/01/38, 144A (IF)   1/23 at 100.00 AA- 1,874,699
7,400   Macon County School District 61 Decatur, Illinois, General Obligation Bonds, Series 2011A, 5.250%, 1/01/37  –  AGM Insured   1/21 at 100.00 A2 7,806,556
17,500   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2012B, 5.000%, 6/15/52   6/22 at 100.00 BBB- 17,774,750
540   Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2015B, 5.000%, 6/15/52   12/25 at 100.00 BBB- 559,958
    Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A:        
2,890   0.000%, 12/15/52   No Opt. Call BBB- 544,534
5,185   5.000%, 6/15/53   12/25 at 100.00 BBB- 5,373,527
5,700   5.500%, 6/15/53   12/25 at 100.00 BBB- 6,074,604
    Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Refunding Bonds, Series 2010A:        
3,650   5.500%, 6/15/50 (Pre-refunded 6/15/20)   6/20 at 100.00 BBB- (4) 3,833,595
11,365   5.500%, 6/15/50   6/20 at 100.00 BBB 11,472,627
20


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Illinois (continued)        
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Capital Appreciation Refunding Series 2010B-1:        
$ 25,000   0.000%, 6/15/44  –  AGM Insured   No Opt. Call BBB- $7,966,750
43,200   0.000%, 6/15/45  –  AGM Insured   No Opt. Call BBB- 13,125,456
10,000   0.000%, 6/15/46  –  AGM Insured   No Opt. Call BBB- 2,896,400
41,205   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 Ba1 41,326,143
8,750   Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B, 0.000%, 6/15/28  –  NPFG Insured   No Opt. Call BBB 6,044,325
    Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:        
18,085   0.000%, 12/15/24  –  NPFG Insured   No Opt. Call BBB- 14,738,552
20,045   0.000%, 12/15/35  –  AGM Insured   No Opt. Call BBB- 9,879,178
1,846   Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014, 5.000%, 3/01/34  –  AGM Insured   3/24 at 100.00 AA 1,999,569
2,600   Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2000A, 6.500%, 7/01/30  –  NPFG Insured   No Opt. Call A2 3,376,542
3,900   Rosemont Village, Illinois, General Obligation Bonds, Corporate Purpose Series 2011A, 5.600%, 12/01/35 (Pre-refunded 12/01/20)  –  AGM Insured   12/20 at 100.00 A2 (4) 4,175,730
7,025   Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group, Inc, Series 2013, 7.625%, 11/01/48 (Pre-refunded 11/01/23)   11/23 at 100.00 N/R (4) 8,840,119
4,000   Southwestern Illinois Development Authority, School Revenue Bonds, Triad School District 2, Madison County, Illinois, Series 2006, 0.000%, 10/01/25  –  NPFG Insured   No Opt. Call Baa2 3,269,880
12,125   Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/40  –  AGM Insured   3/25 at 100.00 A2 13,299,912
    Will County Community Unit School District 201U, Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2004:        
780   0.000%, 11/01/22  –  NPFG Insured (ETM)   No Opt. Call Baa2 (4) 721,890
2,550   0.000%, 11/01/22  –  NPFG Insured   No Opt. Call Baa2 2,321,061
6,415   Will County School District 122, New Lenox, Illinois, General Obligation Bonds, Capital Appreciation School Series 2004D, 0.000%, 11/01/24  –  AGM Insured   No Opt. Call Aa3 5,530,692
    Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General Obligation Bonds, Series 2011:        
930   7.000%, 12/01/21  –  AGM Insured   12/20 at 100.00 A2 1,007,292
1,035   7.000%, 12/01/22  –  AGM Insured   12/20 at 100.00 A2 1,118,690
1,155   7.000%, 12/01/23  –  AGM Insured   12/20 at 100.00 A2 1,248,393
1,065   7.000%, 12/01/26  –  AGM Insured   12/20 at 100.00 A2 1,147,154
2,085   7.250%, 12/01/29 (Pre-refunded 12/01/20)  –  AGM Insured   12/20 at 100.00 A2 (4) 2,288,037
2,295   7.250%, 12/01/30 (Pre-refunded 12/01/20)  –  AGM Insured   12/20 at 100.00 A2 (4) 2,518,487
883,986   Total Illinois       837,491,638
21


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Indiana – 3.1% (1.9% of Total Investments)        
    Allen County, Indiana, Economic Development Revenue Bonds, Fort Wayne Project, Senior Series 2017A-1:        
$ 500   6.625%, 1/15/34, 144A   1/24 at 104.00 N/R $524,975
675   6.750%, 1/15/43, 144A   1/24 at 104.00 N/R 707,468
1,605   Chesterton, Indiana, Economic Development Revenue Bonds, Storypoint Chesterton Project, Series 2016, 6.250%, 1/15/43, 144A   1/24 at 104.00 N/R 1,632,028
2,640   Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2000, 0.000%, 1/15/24  –  NPFG Insured   No Opt. Call Baa2 2,369,162
12,040   Indiana Finance Authority, Educational Facilities Revenue Bonds, Valparaiso University Project, Series 2014, 5.000%, 10/01/44   10/24 at 100.00 A3 13,161,767
365   Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2010, 6.000%, 12/01/26   6/20 at 100.00 B 374,497
125   Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2011, 6.000%, 12/01/19   No Opt. Call B 127,686
10,290   Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42   5/23 at 100.00 A 11,044,051
5,000   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) 5,281,250
13,880   Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2011B, 5.000%, 10/01/41   10/21 at 100.00 A2 14,814,679
17,970   Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A, 5.000%, 10/01/44   10/24 at 100.00 A 19,856,491
5,000   Indianapolis Local Public Improvement Bond Bank Bonds, Indiana, Revenue Bonds, PILOT Infrastructure Project, Series 2010F, 5.000%, 1/01/35 (Pre-refunded 1/01/20)  –  AGM Insured   1/20 at 100.00 AA (4) 5,149,400
    Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E:        
10,000   0.000%, 2/01/26  –  AMBAC Insured   No Opt. Call A 8,405,400
20,000   0.000%, 2/01/28  –  AMBAC Insured   No Opt. Call A 15,603,400
100,090   Total Indiana       99,052,254
    Iowa – 3.4% (2.1% of Total Investments)        
10,000   Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2013A, 5.250%, 2/15/44   2/23 at 100.00 A1 10,714,600
10,690   Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.250%, 12/01/25   12/23 at 100.00 B- 11,342,731
18,290   Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A   6/19 at 105.00 B- 19,296,682
21,280   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+ 22,660,646
5,700   Iowa Finance Authority, Senior Housing Revenue Bonds, PHS Council Bluffs, Inc Project, Series 2018, 5.250%, 8/01/55   8/23 at 102.00 N/R 5,718,639
22


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Iowa (continued)        
    Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:        
$ 8,285   5.375%, 6/01/38   4/19 at 100.00 B2 $8,230,236
2,200   5.500%, 6/01/42   4/19 at 100.00 B2 2,185,524
21,420   5.625%, 6/01/46   4/19 at 100.00 B 21,197,018
8,400   Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34   4/19 at 100.00 B2 8,401,428
106,265   Total Iowa       109,747,504
    Kansas – 0.7% (0.4% of Total Investments)        
    Kansas Development Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A:        
1,240   5.000%, 1/01/40   1/20 at 100.00 AA- 1,270,120
8,140   5.000%, 1/01/40 (Pre-refunded 1/01/20)   1/20 at 100.00 N/R (4) 8,379,479
1,000   Lenexa, Kansas, Health Care Facilities Revenue Bonds, Lakeview Village Inc, Series 2017A, 5.000%, 5/15/43   5/27 at 100.00 BB+ 1,018,250
    Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Vacation Village Project Area 1 and 2A, Series 2015:        
4,845   5.000%, 9/01/27   9/25 at 100.00 N/R 5,145,390
2,380   5.750%, 9/01/32   9/25 at 100.00 N/R 2,532,653
2,495   6.000%, 9/01/35   9/25 at 100.00 N/R 2,638,961
20,100   Total Kansas       20,984,853
    Kentucky – 2.3% (1.4% of Total Investments)        
4,565   Christian County, Kentucky, Hospital Revenue Bonds, Jennie Stuart Medical Center, Series 2016, 5.500%, 2/01/44   2/26 at 100.00 BB+ 4,872,864
6,065   Kentucky Bond Development Corporation, Tax Increment Revenue Bonds, Summit Lexington Project, Series 2016A, 4.400%, 10/01/24   No Opt. Call N/R 5,831,133
10,000   Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A, 5.000%, 6/01/37   6/27 at 100.00 BB+ 10,650,600
5,240   Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.000%, 6/01/30 (Pre-refunded 6/01/20)   6/20 at 100.00 BB+ (4) 5,530,296
6,015   Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2010B, 6.375%, 3/01/40 (Pre-refunded 6/01/20)   6/20 at 100.00 BB+ (4) 6,377,584
    Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A:        
4,345   5.000%, 7/01/37   7/25 at 100.00 Baa2 4,671,049
7,370   5.000%, 7/01/40   7/25 at 100.00 Baa2 7,750,808
10,245   5.000%, 1/01/45   7/25 at 100.00 Baa2 10,625,909
    Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:        
4,360   6.750%, 7/01/43 (6)   7/31 at 100.00 Baa3 4,226,410
8,510   6.875%, 7/01/46 (6)   7/31 at 100.00 Baa3 8,264,657
23


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Kentucky (continued)        
    Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Series 2013A:        
$ 2,390   5.750%, 7/01/49   7/23 at 100.00 Baa3 $2,589,541
480   6.000%, 7/01/53   7/23 at 100.00 Baa3 522,878
715   Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series 2009, 5.250%, 2/01/20  –  AGC Insured   2/19 at 100.00 AA 717,116
70,300   Total Kentucky       72,630,845
    Louisiana – 1.5% (0.9% of Total Investments)        
2,980   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 3,155,582
4,330   Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical Center, Refunding Series 2011A, 6.000%, 1/01/39 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 (4) 4,669,559
5,000   Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc Housing & Parking Project, Series 2010, 5.500%, 10/01/41 (Pre-refunded 10/01/20)  –  AGM Insured   10/20 at 100.00 AA (4) 5,309,250
4,730   Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017, 3.500%, 11/01/32   11/27 at 100.00 BBB 4,534,887
    Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 1998A:        
135   5.750%, 7/01/25 (ETM) (UB)   No Opt. Call A2 (4) 165,669
9,865   5.750%, 7/01/25 (UB)   No Opt. Call A2 11,224,397
11,000   Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017, 0.000%, 10/01/46 (6)   10/33 at 100.00 BBB 9,558,120
455   Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017, 4.000%, 5/15/42   5/27 at 100.00 A3 455,296
    Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015:        
1,000   4.250%, 5/15/40   5/25 at 100.00 A3 1,025,450
6,970   5.000%, 5/15/47   5/25 at 100.00 A3 7,441,032
1,000   New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 4.250%, 6/01/34   6/24 at 100.00 A- 1,037,090
47,465   Total Louisiana       48,576,332
    Maine – 1.1% (0.7% of Total Investments)        
7,530   Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43   7/23 at 100.00 BBB 7,849,874
    Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A:        
5,450   4.000%, 7/01/41   7/26 at 100.00 Ba1 5,292,550
10,215   4.000%, 7/01/46   7/26 at 100.00 Ba1 9,724,067
1,050   Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Maine General Medical Center, Series 2011, 6.750%, 7/01/41   7/21 at 100.00 BB 1,117,610
24


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Maine (continued)        
$ 10,000   Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Mainehealth Issue, Series 2015, 5.000%, 7/01/39   7/24 at 100.00 A+ $ 10,845,800
34,245   Total Maine       34,829,901
    Maryland – 1.4% (0.9% of Total Investments)        
1,000   Howard County, Maryland, Special Obligation Bonds, Downtown Columbia Project, Series 2017A, 4.375%, 2/15/39, 144A   2/26 at 100.00 N/R 999,290
2,500   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.000%, 1/01/26   1/22 at 100.00 Baa3 2,757,225
13,315   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2016A, 5.500%, 1/01/46   1/27 at 100.00 Baa3 14,752,354
10,000   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health System, Series 2015, 5.000%, 7/01/47   7/25 at 100.00 A+ 10,902,000
2,500   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional Medical Center Issue, Refunding Series 2015, 5.000%, 7/01/45   7/24 at 100.00 A3 2,705,000
3,000   Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical System Issue, Series 2013A, 5.000%, 7/01/43   7/22 at 100.00 A- 3,227,220
    Prince George's County Revenue Authority, Maryland, Special Obligation Bonds, Suitland-Naylor Road Project, Series 2016:        
2,000   4.750%, 7/01/36, 144A   1/26 at 100.00 N/R 1,949,040
2,300   5.000%, 7/01/46, 144A   1/26 at 100.00 N/R 2,256,139
    Rockville Mayor and Council, Maryland, Economic Development Revenue Bonds, Series 2017B:        
1,335   4.250%, 11/01/37   11/24 at 103.00 BB 1,286,406
1,250   4.500%, 11/01/43   11/24 at 103.00 BB 1,233,388
1,950   5.000%, 11/01/47   11/24 at 103.00 BB 2,008,324
41,150   Total Maryland       44,076,386
    Massachusetts – 2.8% (1.8% of Total Investments)        
9,500   Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35   1/20 at 100.00 AA 9,767,330
3,125   Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds, Refunding Senior Lien Series 2010B, 5.000%, 1/01/37   1/20 at 100.00 A2 3,205,781
    Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A:        
2,245   5.250%, 7/01/34   7/24 at 100.00 BB 2,432,390
6,195   5.500%, 7/01/44   7/24 at 100.00 BB 6,673,873
    Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc Issue, Series 2017:        
8,200   4.125%, 10/01/42, 144A   10/22 at 105.00 BB+ 7,465,116
2,810   5.000%, 10/01/47, 144A   10/22 at 105.00 BB+ 2,905,596
10,000   Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2, 5.000%, 7/01/53   7/28 at 100.00 Baa1 10,793,600
25


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Massachusetts (continued)        
    Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015:        
$ 4,020   4.500%, 1/01/45   1/25 at 100.00 Baa2 $4,076,079
2,950   5.000%, 1/01/45   1/25 at 100.00 Baa2 3,114,876
4,035   Massachusetts Development Finance Agency, Revenue Bonds, Emmanuel College, Series 2016A, 4.000%, 10/01/46   10/26 at 100.00 Baa2 3,735,442
6,000   Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation, Series 2002A, 5.750%, 1/01/42  –  AMBAC Insured   No Opt. Call AA- 7,956,540
5,330   Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University, Tender Option Bond Trust 2016-XL0017, 11.467%, 12/15/34 (Pre-refunded 12/15/19), 144A (IF) (5)   12/19 at 100.00 AAA (4) 5,791,578
1,000   Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Eye and Ear Infirmary, Series 2010C, 5.375%, 7/01/35 (Pre-refunded 7/01/20)   7/20 at 100.00 N/R (4) 1,049,480
7,405   Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Massachusetts Institute of Technology, Series 2002K, 5.500%, 7/01/32 (UB) (5)   No Opt. Call AAA 9,902,410
    Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Suffolk University, Refunding Series 2009A:        
770   5.750%, 7/01/39   7/19 at 100.00 Baa2 779,856
1,530   5.750%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 N/R (4) 1,555,903
2,800   Massachusetts Housing Finance Agency, Housing Bonds, Series 2014D, 3.875%, 12/01/39   6/24 at 100.00 AA- 2,811,256
4,560   Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43   5/23 at 100.00 AAA 5,010,163
425   Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Subordinate Series 1999A, 5.750%, 8/01/29   4/19 at 100.00 AAA 426,441
1,245   Springfield Water and Sewer Commission, Massachusetts, General Revenue Bonds, Refunding Series 2010B, 5.000%, 11/15/30 (Pre-refunded 11/15/20)  –  AGC Insured   11/20 at 100.00 A3 (4) 1,317,857
84,145   Total Massachusetts       90,771,567
    Michigan – 3.0% (1.9% of Total Investments)        
5,490   Detroit City School District, Wayne County, Michigan, Unlimited Tax School Building and Site Improvement Bonds, Series 2001A, 6.000%, 5/01/29  –  AGM Insured (UB)   No Opt. Call AA 6,588,439
3,665   Detroit Downtown Development Authority, Michigan, Tax Increment Revenue Bonds, Catalyst Development Project, Series 2018A, 5.000%, 7/01/48  –  AGM Insured   7/24 at 100.00 AA 3,911,288
2,985   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 A2 3,218,069
    Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Remarketed Series 2006:        
895   5.250%, 5/15/36  –  AGM Insured   5/20 at 100.00 A2 925,448
1,105   5.250%, 5/15/36 (Pre-refunded 5/15/20)  –  AGM Insured   5/20 at 100.00 A2 (4) 1,153,012
    Michigan Finance Authority, Hospital Revenue Bonds, Sparrow Obligated Group, Refunding Series 2015:        
4,495   4.000%, 11/15/35   5/25 at 100.00 A+ 4,641,042
2,550   4.000%, 11/15/36   5/25 at 100.00 A+ 2,625,582
10,000   Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2016MI, 5.000%, 12/01/45 (UB) (5)   6/26 at 100.00 AA- 10,968,100
26


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Michigan (continued)        
    Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011MI:        
$ 10   5.000%, 12/01/39 (Pre-refunded 12/01/21)   12/21 at 100.00 N/R (4) $10,889
3,240   5.000%, 12/01/39   12/21 at 100.00 AA- 3,449,466
4,000   Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43   1/22 at 100.00 BBB 4,191,520
    Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-II-A:        
2,750   5.375%, 10/15/36   10/21 at 100.00 AA- 2,984,135
8,260   5.375%, 10/15/41   10/21 at 100.00 AA- 8,938,311
    Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009:        
5,500   5.625%, 11/15/29 (Pre-refunded 11/15/19)   11/19 at 100.00 N/R (4) 5,666,100
10,585   5.750%, 11/15/39 (Pre-refunded 11/15/19)   11/19 at 100.00 N/R (4) 10,914,829
13,855   Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series 2009C, 5.000%, 12/01/48   6/22 at 100.00 AA- 14,738,672
3,050   Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2008A, 6.875%, 6/01/42   4/19 at 100.00 B2 3,050,610
    Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D:        
3,550   5.000%, 12/01/40   12/25 at 100.00 A 3,975,787
3,600   5.000%, 12/01/45   12/25 at 100.00 A 3,998,988
89,585   Total Michigan       95,950,287
    Minnesota – 1.7% (1.1% of Total Investments)        
    Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A:        
155   4.000%, 8/01/36   8/26 at 100.00 BB+ 147,854
440   4.000%, 8/01/41   8/26 at 100.00 BB+ 402,666
2,000   Brooklyn Park, Minnesota, Charter School Lease Revenue Bonds, Prairie Seeds Academy Project, Refunding Series 2015A, 5.000%, 3/01/34   3/25 at 100.00 BB+ 2,008,220
1,720   Deephaven, Minnesota, Charter School Lease Revenue Bonds, Eagle Ridge Academy Project, Series 2015A, 5.500%, 7/01/50   7/25 at 100.00 BB+ 1,796,076
    Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A:        
9,830   4.250%, 2/15/43   2/28 at 100.00 A- 9,910,704
26,705   4.250%, 2/15/48   2/28 at 100.00 A- 26,864,162
1,410   Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Hiawatha Academies Project, Series 2016A, 5.000%, 7/01/47   7/24 at 102.00 N/R 1,350,174
1,000   Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Children's Health Care, Series 2004A-1 Remarketed, 4.625%, 8/15/29  –  AGM Insured   8/20 at 100.00 A2 1,034,000
27


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Minnesota (continued)        
    Saint Cloud, Minnesota, Charter School Lease Revenue Bonds, Stride Academy Project, Series 2016A:        
$ 405   5.000%, 4/01/36   4/26 at 100.00 CC $223,195
605   5.000%, 4/01/46   4/26 at 100.00 CC 331,558
2,500   Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Refunding Series 2015A, 4.000%, 7/01/35   7/25 at 100.00 A2 2,588,575
235   Saint Paul Housing and Redevelopment Authority, Minnesota, Multifamily Housing Revenue Bonds, 2700 University at Westgate Station, Series 2015B, 4.250%, 4/01/25   4/23 at 100.00 N/R 236,685
2,785   St Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc, Series 2015A, 5.000%, 11/15/40 (Pre-refunded 11/15/25)   11/25 at 100.00 N/R (4) 3,306,408
    St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A:        
900   5.250%, 11/15/35 (Pre-refunded 11/15/20)   11/20 at 100.00 N/R (4) 954,963
3,190   5.000%, 11/15/44 (Pre-refunded 11/15/25)   11/25 at 100.00 N/R (4) 3,787,232
53,880   Total Minnesota       54,942,472
    Mississippi – 0.2% (0.1% of Total Investments)        
5,445   Mississippi Development Bank, Special Obligation Bonds, Gulfport Water and Sewer System Project, Series 2005, 5.250%, 7/01/24  –  AGM Insured   No Opt. Call A2 6,112,503
    Missouri – 1.8% (1.1% of Total Investments)        
2,960   Chesterfield Valley Transportation Development District, Missouri, Transportation Sales Tax Revenue Bonds, Series 2015, 3.625%, 5/15/31   5/23 at 100.00 A- 2,980,335
    Kansas City Industrial Development Authority, Missouri, Sales Tax Revenue Bonds, Ward Parkway Center Community Improvement District, Senior Refunding & Improvement Series 2016:        
400   5.000%, 4/01/36, 144A   4/26 at 100.00 N/R 401,884
1,520   5.000%, 4/01/46, 144A   4/26 at 100.00 N/R 1,482,410
15,000   Kansas City Municipal Assistance Corporation, Missouri, Leasehold Revenue Bonds, Series 2004B-1, 0.000%, 4/15/28  –  AMBAC Insured   No Opt. Call A1 11,385,900
4,345   Kirkwood Industrial Development Authority, Missouri, Retirement Community Revenue Bonds, Aberdeen Heights Project, Refunding Series 2017A, 5.250%, 5/15/50   5/27 at 100.00 BB 4,537,353
    Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty Commons Project, Series 2015A:        
1,575   5.750%, 6/01/35, 144A   6/25 at 100.00 N/R 1,516,788
1,055   6.000%, 6/01/46, 144A   6/25 at 100.00 N/R 1,019,204
2,460   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 2,612,348
    Missouri Health and Educational Facilities Authority, Educational Facilities Revenue Bonds, Saint Louis College of Pharmacy, Series 2015B:        
1,410   5.000%, 5/01/40   11/23 at 100.00 BBB 1,469,643
2,000   5.000%, 5/01/45   11/23 at 100.00 BBB 2,074,980
7,040   Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/48   11/23 at 100.00 A2 7,507,174
28


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Missouri (continued)        
$ 2,250   Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Heartland Regional Medical Center, Series 2012, 5.000%, 2/15/43   2/22 at 100.00 A1 $2,398,253
1,010   Plaza at Noah's Ark Community Improvement District, Saint Charles, Missouri, Tax Increment and Improvement District Revenue Bonds, Series 2015, 5.000%, 5/01/30   5/21 at 100.00 N/R 1,010,556
405   Saint 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 BB+ 432,953
    Saint Louis County Industrial Development Authority, Missouri, Revenue Bonds, Saint Andrew's Resources for Seniors, Series 2015A:        
1,550   5.000%, 12/01/35   12/25 at 100.00 N/R 1,597,771
455   5.125%, 12/01/45   12/25 at 100.00 N/R 469,096
4,125   Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St Louis International Airport, Series 2005, 5.500%, 7/01/29  –  NPFG Insured   No Opt. Call A- 5,239,823
15,350   Springfield Public Building Corporation, Missouri, Lease Revenue Bonds, Jordan Valley Park Projects, Series 2000A, 0.000%, 6/01/30  –  AMBAC Insured   No Opt. Call N/R 9,589,605
64,910   Total Missouri       57,726,076
    Montana – 0.1% (0.1% of Total Investments)        
    Kalispell, Montana, Housing and Healthcare Facilities Revenue Bonds, Immanuel Lutheran Corporation, Series 2017A:        
1,175   5.250%, 5/15/37   5/25 at 102.00 N/R 1,211,496
375   5.250%, 5/15/47   5/25 at 102.00 N/R 384,075
3,000   Montana Facility Finance Authority, Hospital Revenue Bonds, Benefis Health System Obligated Group, Series 2011A, 5.750%, 1/01/31 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 (4) 3,224,190
4,550   Total Montana       4,819,761
    Nebraska – 1.3% (0.8% of Total Investments)        
10,665   Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Refunding Crossover Series 2017A, 5.000%, 9/01/42   No Opt. Call BBB+ 12,318,501
4,435   Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/32   9/22 at 100.00 BBB+ 4,763,057
580   Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45   11/25 at 100.00 A- 618,176
    Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015:        
2,090   4.125%, 11/01/36   11/25 at 100.00 A- 2,137,464
2,325   5.000%, 11/01/48   11/25 at 100.00 A- 2,476,613
4,010   Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42   11/21 at 100.00 A- 4,223,733
5,000   Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series 2009A, 5.375%, 4/01/39 (Pre-refunded 4/01/19)  –  BHAC Insured   4/19 at 100.00 A (4) 5,030,250
4,000   Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2018C, 3.750%, 9/01/38   9/27 at 100.00 AA+ 4,011,560
29


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Nebraska (continued)        
$ 6,800   Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding & Improvement Series 2016A, 5.250%, 2/01/37   2/27 at 100.00 BBB+ $ 7,237,716
39,905   Total Nebraska       42,817,070
    Nevada – 2.7% (1.7% of Total Investments)        
5,350   Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26  –  AGM Insured   7/19 at 100.00 Aa3 5,420,085
    Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A:        
24,020   5.250%, 7/01/39  –  AGM Insured   1/20 at 100.00 Aa3 24,646,201
14,515   5.250%, 7/01/42   1/20 at 100.00 A+ 14,876,278
410   Director of the State of Nevada Department of Business and Industry, Charter School Lease Revenue Bonds, Somerset Academy, Series 2018A, 5.000%, 12/15/38, 144A   12/25 at 100.00 BB 414,006
33,805   Las Vegas Convention and Visitors Authority, Nevada, Convention Center Expansion Revenue Bonds, Series 2018B, 4.000%, 7/01/49   7/28 at 100.00 A+ 34,041,635
1,000   Las Vegas, Nevada, Sales Tax Increment Revenue Bonds, Symphony Park Tourism Improvement District, Series 2016, 4.375%, 6/15/35, 144A   6/21 at 100.00 N/R 905,470
500   Neveda State Director of the Department of Business and Industry, Charter School Revenue Bonds, Doral Academy of Nevada, Series 2017A, 5.000%, 7/15/37, 144A   7/25 at 100.00 BB+ 506,030
1,140   North Las Vegas, Nevada, General Obligation Bonds, Wastewater Reclamation System Series 2006, 5.000%, 10/01/25  –  NPFG Insured   4/19 at 100.00 BB 1,141,699
4,000   Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding Bonds, ReTrac-Reno Transportation Rail Access Corridor Project, Series 2018A, 4.000%, 6/01/43   12/28 at 100.00 A3 4,055,080
5,000   Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding Capital Appreciation Bonds, ReTrac-Reno Transportation Rail Access Corridor Project, Series 2018C, 0.000%, 7/01/58, 144A   No Opt. Call N/R 572,950
89,740   Total Nevada       86,579,434
    New Hampshire – 0.3% (0.2% of Total Investments)        
5,000   National Finance Authority, New Hampshire, Resource Recovery Revenue Bonds, Covanta Project, Refunding Series 2018B, 4.625%, 11/01/42, 144A   7/23 at 100.00 B 4,821,550
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) 5,144,100
500   New Hampshire Health and Education Facilities Authority, Revenue Bonds, Kendal at Hanover, Series 2016, 5.000%, 10/01/40   10/26 at 100.00 BBB+ 524,600
10,500   Total New Hampshire       10,490,250
    New Jersey – 6.2% (3.9% of Total Investments)        
    New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2016BBB:        
34,310   5.500%, 6/15/29   12/26 at 100.00 BBB+ 39,345,679
2,110   5.500%, 6/15/30   12/26 at 100.00 BBB+ 2,402,488
30


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New Jersey (continued)        
    New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1:        
$ 6,835   5.500%, 9/01/24  –  AMBAC Insured   No Opt. Call BBB+ $7,872,690
5,000   5.500%, 9/01/28  –  NPFG Insured   No Opt. Call BBB+ 6,042,750
11,975   New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2015WW, 5.250%, 6/15/40   6/25 at 100.00 BBB+ 12,704,517
2,335   New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Series 2012K-K, 5.000%, 3/01/23   9/22 at 100.00 BBB+ 2,530,066
600   New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Refunding Series 2011, 6.000%, 7/01/26   7/21 at 100.00 BB+ 640,494
1,500   New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37   4/19 at 100.00 BB+ 1,503,855
2,325   New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Barnabas Health, Refunding Series 2014A, 5.000%, 7/01/44   7/24 at 100.00 A- 2,518,045
2,015   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/26   No Opt. Call BBB+ 1,524,368
2,150   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006A, 5.250%, 12/15/20   No Opt. Call BBB+ 2,269,862
20,000   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/33  –  AGM Insured   No Opt. Call A- 11,264,000
10,140   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.000%, 6/15/42   6/21 at 100.00 BBB+ 10,458,497
20,040   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2014AA, 5.000%, 6/15/44   6/24 at 100.00 BBB+ 20,860,438
    New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA:        
13,680   4.750%, 6/15/38   6/25 at 100.00 BBB+ 14,157,569
5,245   5.250%, 6/15/41   6/25 at 100.00 BBB+ 5,555,504
8,230   5.000%, 6/15/45   6/25 at 100.00 BBB+ 8,538,049
25   New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2018A, 4.250%, 12/15/38   12/28 at 100.00 BBB+ 24,932
33,200   New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26  –  AGM Insured   No Opt. Call A2 39,881,832
200   New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057, 13.614%, 1/01/43, 144A (IF) (5)   7/22 at 100.00 A2 280,160
1,135   Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43   5/23 at 100.00 Aa3 1,256,479
3,000   Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A, 5.250%, 6/01/46   6/28 at 100.00 BBB+ 3,176,640
3,410   Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B, 5.000%, 6/01/46   6/28 at 100.00 BBB 3,405,737
1,330   Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds, Series 2005, 5.250%, 1/01/26  –  AGM Insured   No Opt. Call A2 1,572,738
190,790   Total New Jersey       199,787,389
31


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New York – 5.1% (3.2% of Total Investments)        
$ 12,060   Build NYC Resource Corporation, New York, Revenue Bonds, Albert Einstein College of Medicine, Inc, Series 2015, 5.500%, 9/01/45, 144A   9/25 at 100.00 N/R $12,804,464
2,250   Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of Medicine, Series 1994A, 5.150%, 7/01/24  –  NPFG Insured   No Opt. Call Baa2 2,531,587
9,700   Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2017A, 5.000%, 10/01/47 (UB) (5)   No Opt. Call AAA 12,719,125
4,070   Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/45   7/25 at 100.00 A- 4,501,257
7,225   Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2010A, 5.000%, 7/01/35   7/20 at 100.00 AA 7,526,427
    Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2015:        
2,700   5.000%, 12/01/40, 144A   6/25 at 100.00 BBB- 2,899,341
5,600   5.000%, 12/01/45, 144A   6/25 at 100.00 BBB- 5,977,608
2,695   Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2017A, 6.240%, 2/01/47   2/27 at 100.00 N/R 2,605,176
2,965   Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2018A, 6.760%, 2/01/48   2/28 at 100.00 N/R 3,014,842
    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:        
105   5.250%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 (4) 112,604
2,295   5.250%, 2/15/47   2/21 at 100.00 AA- 2,432,769
325   5.750%, 2/15/47   2/21 at 100.00 AA- 349,199
525   5.750%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 (4) 568,244
6,075   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/36 (Pre-refunded 5/01/21)  –  AGM Insured   5/21 at 100.00 A- (4) 6,525,097
10,000   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 5.000%, 9/01/42   9/22 at 100.00 A- 10,789,200
4,315   Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochestor Project, Series 2010, 5.500%, 8/15/40   2/21 at 100.00 AA 4,616,705
1,000   Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014, 5.000%, 7/01/31   7/24 at 100.00 Baa1 1,091,830
1,690   Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35   4/19 at 100.00 B- 1,629,566
4,050   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 4,070,088
11,570   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2016 Series BB-1, 5.000%, 6/15/46 (UB) (5)   6/25 at 100.00 AA+ 12,872,782
5   New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/26  –  FGIC Insured   4/19 at 100.00 AA 5,014
28,615   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 29,673,183
32


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    New York (continued)        
$ 6,500   New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 211, 3.750%, 10/01/43   4/27 at 100.00 Aa1 $6,417,255
5,655   Onondaga Civic Development Corporation, New York, Revenue Bonds, Saint Joseph's Hospital Health Center Project, Series 2012, 5.000%, 7/01/42 (Pre-refunded 7/01/22)   7/22 at 100.00 N/R (4) 6,274,335
    Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010:        
8,550   5.500%, 12/01/31   12/20 at 100.00 BBB 9,051,714
3,155   6.000%, 12/01/36   12/20 at 100.00 BBB 3,346,004
    TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:        
5,000   5.000%, 6/01/45   6/27 at 100.00 B+ 4,767,550
5,360   5.000%, 6/01/48   6/27 at 100.00 N/R 5,082,405
154,055   Total New York       164,255,371
    North Carolina – 0.8% (0.5% of Total Investments)        
1,255   North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2009A, 5.000%, 6/01/39 (Pre-refunded 6/01/19)   6/19 at 100.00 N/R (4) 1,268,780
10,000   North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2012A, 5.000%, 6/01/42   6/22 at 100.00 AA 10,855,900
4,715   North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health, Refunding Series 2012A, 5.000%, 6/01/36   6/22 at 100.00 A+ 5,071,501
2,150   North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, WakeMed, Refunding Series 2012A, 5.000%, 10/01/38   10/22 at 100.00 A2 2,326,536
2,150   North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, Aldersgate United Retirement Community Inc, Refunding Series 2017A, 5.000%, 7/01/47   7/27 at 100.00 N/R 2,209,319
1,690   North Carolina Turnpike Authority, Monroe Expressway Toll Revenue Bonds, Series 2017A, 5.000%, 7/01/54   7/26 at 100.00 BBB- 1,804,075
540   Oak Island, North Carolina, Enterprise System Revenue Bonds, Series 2009, 6.000%, 6/01/34 (Pre-refunded 6/01/19)  –  AGC Insured   6/19 at 100.00 A2 (4) 547,668
22,500   Total North Carolina       24,083,779
    North Dakota – 2.2% (1.4% of Total Investments)        
9,950   Cass County, North Dakota, Health Care Facilities Revenue Bonds, Essential Health Obligated Group, Series 2018B, 4.250%, 2/15/48   2/28 at 100.00 A- 9,867,813
    Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2012:        
7,000   5.000%, 12/01/29   12/21 at 100.00 Baa1 7,440,720
3,000   5.000%, 12/01/32   12/21 at 100.00 Baa1 3,166,230
2,245   5.000%, 12/01/35   12/21 at 100.00 Baa1 2,357,564
4,525   Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A, 5.000%, 12/01/42   12/27 at 100.00 A- 4,942,838
1,000   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 1,021,360
33


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    North Dakota (continued)        
    Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C:        
$ 10,000   5.000%, 6/01/38   6/28 at 100.00 BBB- $10,747,200
28,000   5.000%, 6/01/53   6/28 at 100.00 BBB- 29,447,040
    Williston Parks and Recreation District, North Dakota, Sales Tax & Gross Revenue Bonds, Series 2012A:        
490   4.000%, 3/01/19   No Opt. Call B 490,059
1,085   5.000%, 3/01/21   No Opt. Call B 1,107,232
2,535   Williston, North Dakota, Multifamily Housing Revenue Bonds, Eagle Crest Apartments LLC Project, Series 2013, 7.750%, 9/01/38 (7)   9/23 at 100.00 N/R 1,014,000
69,830   Total North Dakota       71,602,056
    Ohio – 10.9% (6.8% of Total Investments)        
4,185   Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children's Hospital Medical Center, Improvement & Refunding Series 2012, 5.000%, 11/15/42   5/22 at 100.00 A1 4,464,725
    Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and Improvement Series 2012A:        
2,740   4.000%, 5/01/33   5/22 at 100.00 A2 2,784,059
1,930   5.000%, 5/01/33   5/22 at 100.00 A2 2,078,031
3,405   5.000%, 5/01/42   5/22 at 100.00 A2 3,612,637
100,000   Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Second Subordinate Capital Appreciation Turbo Term Series 2007C, 0.000%, 6/01/52   4/19 at 8.71 N/R 2,557,000
    Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:        
37,010   5.125%, 6/01/24   3/19 at 100.00 Caa3 34,656,534
15,800   5.375%, 6/01/24   3/19 at 100.00 Caa3 14,934,318
20,820   5.875%, 6/01/30   3/19 at 100.00 Caa3 19,467,949
26,915   5.750%, 6/01/34   3/19 at 100.00 Caa3 25,202,129
2,715   6.000%, 6/01/42   3/19 at 100.00 B- 2,608,491
22,400   5.875%, 6/01/47   3/19 at 100.00 B- 20,857,536
10,000   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 9,838,400
1,000   Butler County Port Authority, Ohio, Revenue Bonds, StoryPoint Fairfield Project, Senior Series 2017A-1, 6.250%, 1/15/34, 144A   1/24 at 104.00 N/R 1,026,370
    Centerville, Ohio Health Care Improvement Revenue Bonds, Graceworks Lutheran Services, Refunding & Improvement Series 2017:        
2,750   5.250%, 11/01/37   11/27 at 100.00 N/R 2,873,227
3,200   5.250%, 11/01/47   11/27 at 100.00 N/R 3,301,568
    Cleveland Heights-University Heights City School District, Ohio, General Obligation Bonds, School Improvement Series 2014:        
3,345   5.000%, 12/01/51   6/23 at 100.00 A1 3,638,390
4,965   5.000%, 12/01/51 (Pre-refunded 6/01/23)   6/23 at 100.00 N/R (4) 5,616,507
34


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Ohio (continued)        
$ 5,000   County of Lucas, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2018A, 5.250%, 11/15/48   11/28 at 100.00 Baa1 $5,417,200
37,150   Cuyahoga County, Ohio, Certificates of Participation, Convention Hotel Project, Series 2014, 4.375%, 12/01/44 (UB) (5)   6/24 at 100.00 A1 37,650,039
7,870   Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children's Hospital Project, Improvement Series 2012A, 5.000%, 11/01/42   5/22 at 100.00 Aa2 8,432,941
7,770   Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Series 2017A, 3.250%, 12/01/42   12/27 at 100.00 AA- 6,666,038
6,425   JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Series 2013A, 5.000%, 1/01/38 (UB) (5)   1/23 at 100.00 Aa3 7,026,958
    JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender Option Bond Trust 2016-XG0052:        
390   14.581%, 1/01/38, 144A (IF) (5)   1/23 at 100.00 Aa3 535,033
625   14.680%, 1/01/38, 144A (IF) (5)   1/23 at 100.00 Aa3 859,213
1,250   14.680%, 1/01/38 (IF) (5)   1/23 at 100.00 Aa3 1,718,425
1,725   14.680%, 1/01/38, 144A (IF) (5)   1/23 at 100.00 Aa3 2,371,427
2,000   14.680%, 1/01/38 (IF) (5)   1/23 at 100.00 Aa3 2,749,480
1,750   15.183%, 1/01/38 (IF) (5)   1/23 at 100.00 Aa3 2,405,428
2,885   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 BBB (4) 3,215,419
    Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding Series 2007:        
4,380   5.250%, 12/01/27  –  AGM Insured   No Opt. Call A2 5,286,047
6,000   5.250%, 12/01/31  –  AGM Insured   No Opt. Call A2 7,354,620
12,000   Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/48   2/23 at 100.00 Ba2 12,209,880
8,500   Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds, FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (7)   No Opt. Call N/R 6,757,500
1,050   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009B, 0.000%, 3/01/23 (7)   No Opt. Call N/R 834,750
2,020   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Corporation Project, Refunding Series 2010B, 3.750%, 6/01/33 (Mandatory Put 6/01/20) (7)   No Opt. Call N/R 1,605,900
1,000   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2006B, 3.125%, 1/01/34 (7)   No Opt. Call N/R 795,000
20,765   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2009A, 4.375%, 6/01/33 (Mandatory Put 6/01/22) (7)   No Opt. Call N/R 20,453,525
4,975   Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48   2/23 at 100.00 A+ 5,338,324
1,240   Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien Convertible Series 2013A-3, 5.800%, 2/15/36 (6)   2/31 at 100.00 A+ 1,247,279
35


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Ohio (continued)        
$ 1,130   Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33 (Mandatory Put 6/03/19) (7)   No Opt. Call N/R $898,350
20,405   Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A, 4.375%, 6/01/33 (Mandatory Put 6/01/22) (7)   No Opt. Call N/R 20,098,925
20,480   Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010B, 4.375%, 6/01/33 (Mandatory Put 6/01/22) (7)   No Opt. Call N/R 20,172,800
1,610   Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2010C, 4.000%, 6/01/33 (Mandatory Put 6/03/19) (7)   No Opt. Call N/R 1,279,950
870   Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012, 6.000%, 12/01/42   12/22 at 100.00 BB- 915,640
1,095   Southeastern Ohio Port Authority, Hospitall Facilities Revenue Bonds, Memorial Health System Obligated Group Project, Refunding and Improvement Series 2012, 5.750%, 12/01/32   12/22 at 100.00 BB- 1,171,497
1,615   Toledo Lucas County Port Authority, Ohio, Revenue Bonds, StoryPoint Waterville Project, Series 2016A-1, 6.125%, 1/15/34, 144A   1/24 at 104.00 N/R 1,644,894
1,330   Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 6.000%, 3/01/45   3/25 at 100.00 N/R 1,333,272
2,000   University of Akron, Ohio, General Receipts Bonds, Federally Taxable Build America Bonds, Series 2010B, 5.000%, 1/01/29  –  AGM Insured   1/20 at 100.00 A1 2,053,340
450,485   Total Ohio       350,016,965
    Oklahoma – 0.7% (0.4% of Total Investments)        
1,350   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 1,527,215
3,500   Grand River Dam Authority, Oklahoma, Revenue Bonds, Series 2010A, 5.250%, 6/01/40 (Pre-refunded 6/01/20)   6/20 at 100.00 A1 (4) 3,664,395
    Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Series 2011:        
1,500   5.000%, 7/01/40   7/21 at 100.00 AAA 1,606,365
1,000   5.375%, 7/01/40   7/21 at 100.00 AAA 1,083,130
    Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B:        
5,290   5.500%, 8/15/52   8/28 at 100.00 BB+ 5,895,864
5,530   5.500%, 8/15/57   8/28 at 100.00 BB+ 6,140,235
2,340   Tulsa County Industrial Authority, Oklahoma, Senior Living Community Revenue Bonds, Montereau, Inc Project, Refunding Series 2017, 5.250%, 11/15/45   11/25 at 102.00 BBB- 2,521,701
20,510   Total Oklahoma       22,438,905
36


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Oregon – 0.3% (0.2% of Total Investments)        
    Multnomah County Hospital Facilities Authority, Oregon, Revenue Bonds, Mirabella South Waterfront, Refunding Series 2014A:        
$ 1,000   5.400%, 10/01/44   10/24 at 100.00 N/R $1,054,670
800   5.500%, 10/01/49   10/24 at 100.00 N/R 845,656
    Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2011A:        
555   5.250%, 4/01/31   4/21 at 100.00 Aa2 594,488
3,445   5.250%, 4/01/31 (Pre-refunded 4/01/21)   4/21 at 100.00 N/R (4) 3,703,031
3,000   Oregon State Department of Transportation, Highway User Tax Revenue Bonds, Senior Lien Series 2009A, 5.000%, 11/15/33 (Pre-refunded 5/15/19)   5/19 at 100.00 Aa1 (4) 3,028,860
8,800   Total Oregon       9,226,705
    Pennsylvania – 8.2% (5.1% of Total Investments)        
    Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009:        
170   6.750%, 11/01/24   11/19 at 100.00 B 172,943
195   6.875%, 5/01/30   11/19 at 100.00 B 196,689
15,870   Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A, 4.000%, 4/01/44   4/28 at 100.00 A 15,720,028
2,000   Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2009A, 5.625%, 8/15/39   8/19 at 100.00 A+ 2,034,860
3,335   Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Refunding Series 2010, 5.000%, 6/01/40  –  AGM Insured   12/20 at 100.00 A1 3,496,747
2,540   Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Refunding Project, Series 2017, 5.000%, 5/01/42, 144A   5/27 at 100.00 Ba3 2,689,250
1,245   Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2005A, 4.000%, 1/01/35 (Mandatory Put 7/01/21) (7)   No Opt. Call N/R 989,775
7,750   Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Generation Project, Series 2008B, 4.250%, 10/01/47 (Mandatory Put 4/01/21) (7)   No Opt. Call N/R 7,633,750
    Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006A:        
13,235   4.375%, 1/01/35 (Mandatory Put 7/01/22) (7)   No Opt. Call N/R 13,036,475
3,145   3.500%, 4/01/41 (Mandatory Put 6/01/20) (7)   No Opt. Call N/R 2,500,275
1,240   Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2006B, 3.500%, 12/01/35 (Mandatory Put 6/01/20) (7)   No Opt. Call N/R 985,800
10,000   Berks County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Tower Health Project, Series 2017, 5.000%, 11/01/50   11/27 at 100.00 A3 10,823,000
    Bucks County Industrial Development Authority, Pennsylvania, Revenue Bonds, School Lane Charter School Project, Series 2016:        
2,410   5.125%, 3/15/36   3/27 at 100.00 BBB- 2,546,551
6,420   5.125%, 3/15/46   3/27 at 100.00 BBB- 6,698,821
37


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Pennsylvania (continued)        
    Chester County Health and Education Facilities Authority, Pennsylvania, Health System Revenue Bonds, Jefferson Health System, Series 2010A:        
$ 1,580   5.000%, 5/15/40   5/20 at 100.00 AA $1,628,206
4,435   5.000%, 5/15/40 (Pre-refunded 5/15/20)   5/20 at 100.00 N/R (4) 4,616,613
10,850   Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018, 4.000%, 6/01/39  –  AGM Insured (UB) (5)   6/28 at 100.00 A1 11,052,787
1,000   Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015, 5.000%, 1/01/29   1/25 at 100.00 BBB+ 1,089,430
7,665   Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health System Project, Series 2012A, 5.000%, 6/01/42   6/22 at 100.00 A+ 8,166,368
8,750   Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 5.000%, 1/01/40 (Pre-refunded 1/01/20)  –  AGM Insured   1/20 at 100.00 AA (4) 9,015,475
3,000   Dubois Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Penn Highlands Healthcare, Series 2018, 5.000%, 7/15/48   1/28 at 100.00 A- 3,289,920
1,250   Lancaster County Hospital Authority, Pennsylvania, Revenue Bonds, Landis Homes Retirement Community Project, Refunding Series 2015A, 5.000%, 7/01/45   7/25 at 100.00 BBB- 1,282,313
1,500   Lehigh County Authority, Pennsylvania, Water and Sewer Revenue Bonds, Allentown Concession, Series 2013A, 5.125%, 12/01/47   12/23 at 100.00 A 1,658,460
    Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Series 2010:        
7,970   5.250%, 8/01/33 (Pre-refunded 8/01/20)   8/20 at 100.00 N/R (4) 8,378,941
5,295   5.375%, 8/01/38 (Pre-refunded 8/01/20)   8/20 at 100.00 N/R (4) 5,576,376
    Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds, Albert Einstein Healthcare Network Issue, Series 2015A:        
10,450   5.250%, 1/15/45   1/25 at 100.00 BB+ 11,215,044
1,200   5.250%, 1/15/46   1/25 at 100.00 BB+ 1,287,852
11,810   Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009A, 6.400%, 12/01/38   9/25 at 100.00 B3 11,909,913
13,500   Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue Bonds, Senior Series 2018A, 5.250%, 12/01/44   12/28 at 100.00 Aa3 15,668,505
3,705   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1, 5.000%, 12/01/45   6/25 at 100.00 A+ 4,035,264
6,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2018A-2, 5.000%, 12/01/43   12/28 at 100.00 A1 6,717,300
11,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C, 6.250%, 6/01/33  –  AGM Insured   6/26 at 100.00 A2 13,497,000
15,000   Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2015B-1, 5.000%, 12/01/45   12/25 at 100.00 A3 16,184,700
10,305   Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42   7/22 at 100.00 Ba1 10,931,029
    Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A:        
5,000   5.000%, 6/15/35  –  AGM Insured   6/20 at 100.00 A2 5,190,400
17,850   5.000%, 6/15/40  –  AGM Insured   6/20 at 100.00 A2 18,505,273
38


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Pennsylvania (continued)        
$ 7,055   Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/35  –  AGM Insured   8/20 at 100.00 A2 $7,324,289
5,180   Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Sales Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/31  –  AGM Insured   8/20 at 100.00 A1 5,387,045
    Scranton, Pennsylvania, Sewer Authority Revenue Bonds, Series 2011A:        
1,125   5.250%, 12/01/31 (Pre-refunded 12/01/21)  –  AGM Insured   12/21 at 100.00 AA (4) 1,234,350
1,000   5.500%, 12/01/35 (Pre-refunded 12/01/21)  –  AGM Insured   12/21 at 100.00 AA (4) 1,104,060
5,790   Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, Series 2012B, 4.000%, 1/01/33   1/23 at 100.00 BB+ 5,854,616
248,820   Total Pennsylvania       261,326,493
    Puerto Rico – 1.3% (0.8% of Total Investments)        
    Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A:        
1,000   6.000%, 7/01/38   4/19 at 100.00 C 955,000
8,235   6.000%, 7/01/44   4/19 at 100.00 C 7,864,425
    Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A:        
4,455   5.250%, 7/01/42   7/22 at 100.00 C 4,120,875
5,000   6.000%, 7/01/47   7/22 at 100.00 C 4,750,000
590   Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2004J, 5.000%, 7/01/29  –  NPFG Insured   4/19 at 100.00 Baa2 590,466
    Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:        
50,000   0.000%, 8/01/47  –  AMBAC Insured   No Opt. Call D 10,084,000
86,250   0.000%, 8/01/54  –  AMBAC Insured   No Opt. Call D 11,755,013
155,530   Total Puerto Rico       40,119,779
    Rhode Island – 1.0% (0.6% of Total Investments)        
1,000   Rhode Island Health and Educational Building Corporation, Revenue Bonds, Care New England Health System, Series 2013A, 6.000%, 9/01/33 (Pre-refunded 9/01/23)   9/23 at 100.00 BB- (4) 1,181,710
292,435   Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A, 0.000%, 6/01/52   4/19 at 100.00 CCC+ 31,504,023
293,435   Total Rhode Island       32,685,733
    South Carolina – 2.9% (1.8% of Total Investments)        
7,600   Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/31  –  AMBAC Insured   No Opt. Call A- 5,104,768
3,155   Saint Peters Parish/Jasper County Public Facilities Corporation, South Carolina, Installment Purchase Revenue Bonds, County Office Building Projects, Series 2011A, 5.250%, 4/01/44 (Pre-refunded 4/01/21)  –  AGC Insured   4/21 at 100.00 A2 (4) 3,391,309
    South Carolina Jobs-Economic Development Authority, Health Facilities Revenue Bonds, Lutheran Homes of South Carolina Inc, Refunding Series 2017B:        
1,000   5.000%, 5/01/37   5/23 at 104.00 N/R 1,005,960
750   5.000%, 5/01/42   5/23 at 104.00 N/R 745,860
39


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    South Carolina (continued)        
$ 1,250   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) $1,395,125
4,000   South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Prisma Health Obligated Group, Series 2018A, 5.000%, 5/01/48   5/28 at 100.00 A 4,348,160
    South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A:        
11,170   5.000%, 12/01/50   6/25 at 100.00 A- 11,718,112
34,000   5.000%, 12/01/50 (UB) (5)   6/25 at 100.00 A- 35,668,380
5,000   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014C, 5.000%, 12/01/46   12/24 at 100.00 A- 5,270,550
1,310   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2013A, 5.125%, 12/01/43   12/23 at 100.00 A- 1,378,710
10,285   South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54   6/24 at 100.00 A- 11,038,068
10,250   Spartanburg Regional Health Services District, Inc., South Carolina, Hospital Refunding Revenue Bonds, Series 2012A, 5.000%, 4/15/32   4/22 at 100.00 A3 10,934,597
89,770   Total South Carolina       91,999,599
    South Dakota – 0.8% (0.5% of Total Investments)        
15,000   South Dakota Health and Educational Facilities Authority, Revenue Bonds, Avera Health, Refunding Series 2017, 5.000%, 7/01/46   7/27 at 100.00 A1 16,397,550
    South Dakota Health and Educational Facilities Authority, Revenue Bonds, Avera Health, Series 2012A:        
250   5.000%, 7/01/27   7/21 at 100.00 A1 266,388
4,350   5.000%, 7/01/42   7/21 at 100.00 A1 4,588,945
3,765   South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017, 5.000%, 9/01/40   9/27 at 100.00 A1 4,197,862
23,365   Total South Dakota       25,450,745
    Tennessee – 1.1% (0.7% of Total Investments)        
12,895   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+ 13,668,700
1,850   Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger Health System, Refunding Series 2014A, 5.000%, 10/01/39   10/24 at 100.00 Baa2 1,979,482
2,000   Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, East Tennessee Children's Hospital, Series 2019, 4.000%, 11/15/48 (WI/DD, Settling 2/14/19)   2/29 at 100.00 A 1,982,700
2,645   Memphis/Shelby County Economic Development Growth Engine Industrial Development Board, Tennessee, Tax Increment Revenue Bonds, Graceland Project, Senior Series 2017A, 5.500%, 7/01/37   7/27 at 100.00 N/R 2,794,231
3,560   Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Knowledge Academy Charter School, Series 2017A, 5.500%, 6/15/37, 144A (7)   6/27 at 100.00 N/R 2,779,007
40


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tennessee (continued)        
$ 10,000   The Health and Educational Facilities Board of the City of Franklin, Tennessee, Revenue Bonds, Provision Cares Proton Therapy Center, Nashville Project, Series 2017A, 7.500%, 6/01/47, 144A   6/27 at 100.00 N/R $ 10,633,800
32,950   Total Tennessee       33,837,920
    Texas – 12.1% (7.5% of Total Investments)        
735   Arlington Higher Education Finance Corporation, Texas, Education Revenue Bonds, Wayside Schools, Series 2016A, 4.375%, 8/15/36   8/21 at 100.00 BB+ 715,236
3,685   Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phase 1 Project, Series 2015, 7.250%, 9/01/45   3/23 at 103.00 N/R 3,735,411
3,160   Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public Improvement District Phases 2-3 Major Improvements Project, Series 2015, 8.250%, 9/01/40   3/23 at 103.00 N/R 3,203,924
5,480   Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/45 (UB) (5)   11/25 at 100.00 Aa3 6,136,997
6,685   Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2010, 5.500%, 8/15/49  –  AGM Insured   8/19 at 100.00 A- 6,809,608
2,500   Board of Managers, Joint Guadalupe County-Seguin City Hospital, Texas, Hospital Mortgage Revenue Bonds, Refunding & Improvement Series 2015, 5.000%, 12/01/45   12/25 at 100.00 BB 2,541,725
2,410   Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 7.250%, 9/01/45   3/23 at 103.00 N/R 2,373,537
4,300   Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District Neighborhood Improvement Areas 2-5 Major Improvement Project, Series 2015, 8.250%, 9/01/40   3/23 at 103.00 N/R 4,244,186
400   Celina, Texas, Special Assessment Revenue Bonds, Wells South Public Improvement District Neighborhood Improvement Area 1 Project, Series 2015, 6.250%, 9/01/45   9/24 at 100.00 N/R 410,552
    Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011:        
1,500   5.750%, 1/01/31 (Pre-refunded 1/01/21)   1/21 at 100.00 Baa1 (4) 1,609,170
1,700   6.250%, 1/01/46 (Pre-refunded 1/01/21)   1/21 at 100.00 Baa1 (4) 1,839,587
13,685   Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/45   7/25 at 100.00 Baa1 14,829,340
10,375   Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2016, 3.375%, 1/01/41   1/26 at 100.00 Baa1 9,252,632
1,035   Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea Public Schools, Series 2012, 3.750%, 8/15/22   No Opt. Call BBB+ 1,058,246
    Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A:        
765   4.350%, 12/01/42   12/22 at 100.00 BBB- 732,113
685   4.400%, 12/01/47   12/22 at 100.00 BBB- 652,695
4,000   Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2015A, 5.000%, 12/01/45   6/25 at 100.00 BBB- 4,187,200
    Club Municipal Management District 1, Texas, Special Assessment Revenue Bonds, Improvement Area 1 Project, Series 2016:        
715   5.750%, 9/01/28   9/23 at 103.00 N/R 686,507
770   6.500%, 9/01/46   9/23 at 103.00 N/R 714,552
41


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
$ 11,735   Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding and Improvement Bonds, Series 2012C, 5.000%, 11/01/45   11/21 at 100.00 A+ $12,436,753
2,520   Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2013A, 6.375%, 9/01/42   9/23 at 100.00 N/R 2,819,225
400   Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2014A, 5.250%, 9/01/44   9/24 at 100.00 BBB- 424,548
1,255   Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012A. RMKT, 4.750%, 5/01/38   11/22 at 100.00 Baa3 1,280,338
8,920   Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B, 4.750%, 11/01/42   11/22 at 100.00 Baa3 9,087,696
    Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B:        
20,000   5.250%, 10/01/51   10/23 at 100.00 AA 21,823,800
10,000   5.000%, 4/01/53 (UB) (5)   10/23 at 100.00 AA 10,750,400
5,470   Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond Trust 2015-XF0228, 14.617%, 11/01/44, 144A (IF) (5)   10/23 at 100.00 AA 7,112,422
4,255   Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45   6/25 at 100.00 AA 4,664,714
1,545   Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Tender Option Bond Trust 2016-XG0054, 11.458%, 11/01/41, 144A (IF) (5)   11/21 at 100.00 Aa2 1,859,330
4,080   Harris County, Texas, General Obligation Toll Road Revenue Bonds, Tender Option Bond Trust 2015-XF0074, 12.063%, 8/15/32, 144A (IF)   No Opt. Call AAA 7,597,939
6,000   Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A, 0.000%, 11/15/48   11/31 at 44.13 A2 1,546,980
6,000   Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/53   11/24 at 100.00 A- 6,578,820
    Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3:        
1,940   0.000%, 11/15/34 (Pre-refunded 11/15/24)  –  NPFG Insured   11/24 at 55.69 Baa2 (4) 952,598
14,055   0.000%, 11/15/34  –  NPFG Insured   11/24 at 55.69 BB 6,426,789
5,000   Houston Higher Education Finance Corporation, Texas, Education Revenue Bonds, KIPP, Inc, Refunding Series 2015, 4.000%, 8/15/44   8/25 at 100.00 AAA 5,086,250
    Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:        
4,130   0.000%, 9/01/26  –  AMBAC Insured   No Opt. Call A2 3,378,257
4,865   0.000%, 9/01/27  –  AGM Insured   No Opt. Call A2 3,823,209
4,715   Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/40   9/24 at 100.00 A- 5,177,919
17,000   Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2002A, 5.750%, 12/01/32  –  AGM Insured (ETM)   No Opt. Call A2 (4) 23,113,540
6,700   Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Refunding Series 2012A, 5.000%, 8/01/46   8/21 at 100.00 A+ 7,123,909
3,500   Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B, 5.000%, 8/15/43   8/19 at 100.00 BBB+ 3,511,935
42


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
$ 940   Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.000%, 8/15/30   8/25 at 100.00 BBB+ $1,038,991
1,000   Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2015, 5.000%, 5/15/45   5/25 at 100.00 A 1,111,250
    McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013:        
3,095   5.750%, 12/01/33   12/25 at 100.00 B1 3,269,682
3,125   6.125%, 12/01/38   12/25 at 100.00 B1 3,301,875
    Montgomery County Toll Road Authority, Texas, Toll Road Revenue Bonds, Senior Lien Series 2018:        
1,900   5.000%, 9/15/43   9/25 at 100.00 BBB- 2,021,866
1,785   5.000%, 9/15/48   9/25 at 100.00 BBB- 1,894,153
    New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016:        
2,335   5.000%, 11/01/46   11/23 at 103.00 BBB- 2,393,562
6,015   5.000%, 11/01/51   11/23 at 103.00 BBB- 6,146,187
745   New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Wesleyan Homes, Inc. Project, Series 2014, 5.500%, 1/01/43   1/25 at 100.00 N/R 780,097
210   New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Corpus Christi II, L.L.C.-Texas A&M University-Corpus Christi Project, Series, 5.000%, 4/01/48   4/26 at 100.00 B1 202,375
4,530   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, 4.100%, 4/01/34  –  AGM Insured   4/24 at 100.00 A2 4,672,197
820   New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - San Antonio 1, L.L.C. - Texas A&M University - San Antonio Project,, 5.000%, 4/01/48   4/26 at 100.00 BBB- 812,489
1,000   New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - Stephenville II, L.L.C. - Tarleton State University Project, Series, 5.000%, 4/01/34   4/24 at 100.00 BBB- 1,050,900
    New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - Stephenville II, LLC - Tarleton State University Project, Series 2014A:        
2,200   5.000%, 4/01/39   4/24 at 100.00 BBB- 2,281,774
1,600   5.000%, 4/01/46   4/24 at 100.00 BBB- 1,649,744
5,540   New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Galveston-Texas A&M University at Galveston Project, Series 2014A, 5.000%, 4/01/39   4/24 at 100.00 Baa3 5,557,119
3,220   North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 12/15/36  –  AGM Insured   12/21 at 100.00 A2 3,464,173
    North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C:        
2,590   7.000%, 9/01/43 (Pre-refunded 9/01/31) (6)   9/31 at 100.00 N/R (4) 2,975,884
3,910   6.750%, 9/01/45 (Pre-refunded 9/01/31) (6)   9/31 at 100.00 N/R (4) 4,906,385
43


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
$ 3,000   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) $3,281,220
6,155   North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40   1/23 at 100.00 A+ 6,650,477
2,000   North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/38   1/25 at 100.00 A 2,202,520
610   Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A, 5.125%, 2/01/39   2/24 at 100.00 Ba2 623,048
1,000   Red River Education Finance Corporation, Texas, Higher Education Revenue Bonds, Saint Edward's University Project, Series 2016, 4.000%, 6/01/41   6/26 at 100.00 Baa2 971,160
2,410   Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Baylor Health Care System, Series 2011A, 5.000%, 11/15/30   11/21 at 100.00 AA- 2,580,845
1,870   Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Refunding Series 2013, 5.500%, 9/01/43   9/23 at 100.00 A 2,055,822
    Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010:        
215   5.500%, 8/15/45 (Pre-refunded 8/15/20)   8/20 at 100.00 N/R (4) 227,122
2,675   5.500%, 8/15/45 (Pre-refunded 8/15/20)   8/20 at 100.00 N/R (4) 2,825,817
17,640   Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2016A, 5.000%, 11/15/45 (UB) (5)   5/26 at 100.00 AA- 19,457,802
4,300   Texas City Industrial Development Corporation, Texas, Industrial Development Revenue Bonds, NRG Energy, inc Project, Fixed Rate Series 2012, 4.125%, 12/01/45   2/25 at 100.00 Baa3 4,196,069
4,000   Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2018A, 4.250%, 9/01/43   9/27 at 100.00 AA+ 4,101,120
    Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012:        
3,635   5.000%, 12/15/22   No Opt. Call BBB 3,983,088
2,500   5.000%, 12/15/26   12/22 at 100.00 BBB 2,715,300
2,500   5.000%, 12/15/29   12/22 at 100.00 BBB 2,691,450
4,355   5.000%, 12/15/30   12/22 at 100.00 BBB 4,670,389
2,975   5.000%, 12/15/32   12/22 at 100.00 BBB 3,173,641
3,150   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- 3,336,763
    Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B:        
11,280   0.000%, 8/15/36   8/24 at 59.60 A- 5,473,846
10,000   0.000%, 8/15/37   8/24 at 56.94 A- 4,623,400
    Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C:        
5,000   5.000%, 8/15/37   8/24 at 100.00 BBB 5,359,100
31,810   5.000%, 8/15/42   8/24 at 100.00 BBB 33,767,905
4,400   Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25  –  AMBAC Insured   No Opt. Call A- 3,748,228
44


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Texas (continued)        
$ 1,840   Ysleta Independent School District Public Facility Corporation, Texas, Lease Revenue Refunding Bonds, Series 2001, 5.375%, 11/15/24  –  AMBAC Insured   5/19 at 100.00 AA- $ 1,858,455
384,550   Total Texas       386,415,879
    Virginia – 2.0% (1.2% of Total Investments)        
    Embrey Mill Community Development Authority, Virginia, Special Assessment Revenue Bonds, Series 2015:        
1,200   5.300%, 3/01/35, 144A   3/25 at 100.00 N/R 1,206,132
1,085   5.600%, 3/01/45, 144A   3/25 at 100.00 N/R 1,094,939
11,380   Hampton Roads Transportation Accountability Commission, Virginia, Hampton Roads Transportation Fund Revenue Bonds, Senior Lien Series 2018A, 5.500%, 7/01/57   1/28 at 100.00 AA 13,520,692
14,945   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+ 15,441,772
11,000   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 13,701,490
10,000   Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 6.500%, 10/01/44   10/28 at 100.00 BBB+ 12,477,300
2,000   Peninsula Town Center Community Development Authority, Virginia, Special Obligation Bonds, Refunding Series 2018, 5.000%, 9/01/45, 144A   9/27 at 100.00 N/R 2,071,860
    Roanoke Industrial Development Authority, Virginia, Hospital Revenue Bonds, Carilion Health System Obligated Group, Series 2005B:        
15   5.000%, 7/01/38 (Pre-refunded 7/01/20)   7/20 at 100.00 A1 (4) 15,677
985   5.000%, 7/01/38   7/20 at 100.00 A1 1,018,569
1,000   Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Green Series 2015B, 5.250%, 7/01/35, 144A   7/25 at 100.00 BB+ 1,054,400
2,070   Virginia Small Business Finance Authority, Tourism Development Financing Program Revenue Bonds, Downtown Norfolk and Virginia Beach Oceanfront Hotel Projects, Series 2018A, 8.375%, 4/01/41, 144A   4/28 at 112.76 N/R 2,380,044
55,680   Total Virginia       63,982,875
    Washington – 1.6% (1.0% of Total Investments)        
5,000   Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2015A, 5.000%, 7/01/38 (UB) (5)   7/25 at 100.00 AA- 5,669,300
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 3,790,425
5,750   Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35   1/21 at 100.00 A3 6,054,060
1,250   Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Tender Option Bond Trust 2015-XF0148, 14.761%, 10/01/44, 144A (IF) (5)   10/24 at 100.00 AA- 1,655,738
6,540   Washington Health Care Facilities Authority, Revenue Bonds, Seattle Children's Hospital, Series 2012A, 5.000%, 10/01/42   10/22 at 100.00 Aa2 7,115,193
45


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Washington (continued)        
    Washington State Housing Finance Commission, Non-profit Housing Revenue Bonds, Presbyterian Retirement Communities Northwest Project, Refunding Series 2016A:        
$ 5,450   5.000%, 1/01/46, 144A   1/25 at 102.00 BB+ $5,666,201
3,650   5.000%, 1/01/51, 144A   1/25 at 102.00 BB+ 3,782,458
21,510   Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002-03C, 0.000%, 6/01/28  –  NPFG Insured (UB) (5)   No Opt. Call AA+ 16,889,867
52,900   Total Washington       50,623,242
    West Virginia – 1.8% (1.1% of Total Investments)        
1,900   Monongalia County Commission, West Virginia, Special District Excise Tax Revenue, University Town Centre Economic Opportunity Development District, Refunding & Improvement Series 2017A, 5.500%, 6/01/37, 144A   6/27 at 100.00 N/R 1,941,838
10,000   West Virginia Economic Development Authority, State Lottery Revenue Bonds, Series 2010A, 5.000%, 6/15/40 (Pre-refunded 6/15/20)   6/20 at 100.00 A1 (4) 10,442,800
40,855   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 44,499,675
52,755   Total West Virginia       56,884,313
    Wisconsin – 4.2% (2.6% of Total Investments)        
    Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A:        
1,750   5.000%, 2/01/36, 144A   2/26 at 100.00 N/R 1,695,907
305   5.125%, 2/01/46, 144A   2/26 at 100.00 N/R 285,355
500   Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Corvian Community School Bonds, North Carolina, Series 2017A, 5.125%, 6/15/47, 144A   6/24 at 100.00 N/R 490,800
1,480   Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Envision Science Academy Project, Series 2016A, 5.125%, 5/01/36, 144A   5/26 at 100.00 N/R 1,402,774
6,000   Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Phoenix Academy Charter School, North Carolina, Series 2017A, 5.625%, 6/15/37, 144A   6/24 at 100.00 N/R 5,699,940
    Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Uwharrie Charter Academy, North Carolina, Series 2017A:        
1,000   5.500%, 6/15/37, 144A   6/27 at 100.00 N/R 941,020
1,790   5.625%, 6/15/47, 144A   6/27 at 100.00 N/R 1,650,989
35,100   Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017, 7.000%, 12/01/50, 144A   12/27 at 100.00 N/R 39,443,274
1,700   Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Proton Therapy Center, Senior Series 2017A, 7.000%, 10/01/47, 144A   10/27 at 100.00 N/R 1,784,065
1,705   Public Finance Authority of Wisconsin, Revenue Bonds, Prime Healthcare Foundation, Inc, Series 2017A, 5.000%, 12/01/27   No Opt. Call BBB- 1,811,273
1,815   Public Finance Authority of Wisconsin, Revenue Bonds, Prime Healthcare Foundation, Inc., Series 2017A, 5.200%, 12/01/37   12/27 at 100.00 BBB- 1,940,671
46


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Wisconsin (continued)        
    Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A:        
$ 4,050   5.000%, 6/15/38, 144A   6/26 at 100.00 BBB- $4,250,596
1,575   5.000%, 6/15/48, 144A   6/26 at 100.00 BBB- 1,640,851
2,500   Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C, 4.050%, 11/01/30   5/26 at 100.00 BBB- 2,501,425
1,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, American Baptist Homes of the Midwest Obligated Group, Refunding Series 2017, 5.000%, 8/01/37   8/24 at 103.00 N/R 1,008,260
8,460   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc, Series 2012A, 5.000%, 7/15/25 (Pre-refunded 7/15/21)   7/21 at 100.00 Aa3 (4) 9,124,195
2,500   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Health Care, Inc, Series 2013A, 5.125%, 4/15/31 (Pre-refunded 4/15/23)   4/23 at 100.00 Aa3 (4) 2,836,700
6,620   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Health Inc Obligated Group, Series 2012A, 5.000%, 4/01/42   10/22 at 100.00 AA- 7,089,490
16,190   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39   10/21 at 100.00 AA- 17,269,387
    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B:        
3,490   4.500%, 2/15/40   2/22 at 100.00 A- 3,592,536
1,485   5.000%, 2/15/40   2/22 at 100.00 A- 1,562,918
    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012:        
11,000   5.000%, 6/01/32   6/22 at 100.00 A3 11,773,630
1,500   5.000%, 6/01/39   6/22 at 100.00 A3 1,589,805
1,250   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2011A, 5.750%, 5/01/35 (Pre-refunded 5/01/21)   5/21 at 100.00 N/R (4) 1,359,113
1,450   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rocket Education Obligated Group, Series 2017C, 5.250%, 6/01/40, 144A   6/26 at 100.00 N/R 1,485,293
1,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A, 5.000%, 7/01/34   7/24 at 100.00 A 1,082,000
    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Saint John's Communities Inc, Series 2015B:        
550   5.000%, 9/15/37   9/22 at 100.00 BBB- 561,440
1,350   5.000%, 9/15/45   9/22 at 100.00 BBB- 1,372,666
1,000   Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Three Pillars Senior Living Communities, Refunding Series 2013, 5.000%, 8/15/33   8/23 at 100.00 A 1,073,600
    Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014:        
2,565   5.000%, 12/01/44   12/22 at 102.00 N/R 2,639,180
1,775   5.250%, 12/01/49   12/22 at 102.00 N/R 1,845,201
47


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Wisconsin (continued)        
    Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014:        
$ 1,000   5.375%, 10/01/44   10/22 at 102.00 N/R $1,059,040
1,500   5.500%, 10/01/49   10/22 at 102.00 N/R 1,594,860
126,955   Total Wisconsin       135,458,254
    Wyoming – 0.1% (0.1% of Total Investments)        
2,035   Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative - Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39   7/19 at 100.00 A3 2,069,330
    Teton County Hospital District, Wyoming, Hospital Revenue Bonds, St. John's Medical Center Project, Series 2011B:        
1,000   5.500%, 12/01/27   12/21 at 100.00 A- 1,068,590
1,000   6.000%, 12/01/36   12/21 at 100.00 A- 1,076,129
4,035   Total Wyoming       4,214,049
$ 5,785,381   Total Municipal Bonds (cost $4,844,093,525)       5,142,549,234
    
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)        
$ 1,214   Las Vegas Monorail Company, Senior Interest Bonds (8), (9) 5.500% 7/15/19 N/R $799,032
344   Las Vegas Monorail Company, Senior Interest Bonds (8), (9) 5.500% 7/15/55 N/R 170,163
$ 1,558   Total Corporate Bonds (cost $66,605)       969,195
    Total Long-Term Investments (cost $4,844,160,130)       5,143,518,429
    Floating Rate Obligations – (5.9)%       (187,340,000)
    MuniFund Preferred Shares, net of deferred offering costs – (12.6)% (10)       (405,048,416)
    Variable Rate Demand Preferred Shares, net of deferred offering costs – (44.0)% (11)       (1,407,764,006)
    Other Assets Less Liabilities – 1.9%       58,661,318
    Net Assets Applicable to Common Shares – 100%       $ 3,202,027,325
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, credit spreads, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
48


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 $ — $5,142,549,234 $  — $5,142,549,234
Corporate Bonds  —  — 969,195 969,195
Total $ — $5,142,549,234 $969,195 $5,143,518,429
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 January 31, 2019.
Tax cost of investments $4,650,129,294
Gross unrealized:  
Appreciation $ 335,033,799
Depreciation (28,983,512)
Net unrealized appreciation (depreciation) of investments $ 306,050,287
(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) MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 7.9%.  
(11) Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 27.4%.  
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.  
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.  
49


NVG Nuveen AMT-Free Municipal Credit Income Fund (continued)
  Portfolio of Investments January 31, 2019
  (Unaudited)
50


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 AMT-Free Municipal Credit Income Fund

  
By (Signature and Title)   

/s/ Gifford R. Zimmerman                                                    

  
  

Gifford R. Zimmerman

  
  

Vice President and Secretary

  

Date: April 1, 2019

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: April 1, 2019

     
By (Signature and Title)   

/s/ Stephen D. Foy                                                     

  
  

Stephen D. Foy

  
  

Vice President and Controller (principal financial officer)

  

Date: April 1, 2019