Chairman's Letter to Shareholders
|
4
|
Portfolio Managers' Comments
|
5
|
Fund Leverage
|
10
|
Share Information
|
11
|
Risk Considerations
|
13
|
Performance Overview and Holding Summaries
|
14
|
Shareholder Meeting Report
|
22
|
Report of Independent Registered Public Accounting Firm
|
23
|
Portfolios of Investments
|
24
|
Statement of Assets and Liabilities
|
68
|
Statement of Operations
|
69
|
Statement of Changes in Net Assets
|
70
|
Financial Highlights
|
72
|
Notes to Financial Statements
|
76
|
Additional Fund Information
|
88
|
Glossary of Terms Used in this Report
|
89
|
Reinvest Automatically, Easily and Conveniently
|
91
|
Annual Investment Management Agreement Approval Process
|
92
|
Board Members & Officers
|
100
|
Nuveen Investments
|
3
|
4
|
Nuveen Investments
|
Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.
|
Nuveen Investments
|
5
|
6
|
Nuveen Investments
|
Nuveen Investments
|
7
|
8
|
Nuveen Investments
|
Nuveen Investments
|
9
|
NUV
|
NUW
|
NMI
|
NEV
|
||
Effective Leverage*
|
1.66%
|
7.02%
|
8.94%
|
33.42%
|
*
|
Effective Leverage is a Fund's effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund's portfolio that increase the Fund's investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values.
|
10
|
Nuveen Investments
|
Per Share Amounts
|
|||||||||||||
Ex-Dividend Date
|
NUV
|
NUW
|
NMI
|
NEV
|
|||||||||
November 2014
|
$
|
0.0345
|
$
|
0.0670
|
$
|
0.0425
|
$
|
0.0800
|
|||||
December
|
0.0345
|
0.0670
|
0.0425
|
0.0800
|
|||||||||
January
|
0.0345
|
0.0650
|
0.0425
|
0.0800
|
|||||||||
February
|
0.0345
|
0.0650
|
0.0425
|
0.0800
|
|||||||||
March
|
0.0345
|
0.0650
|
0.0425
|
0.0800
|
|||||||||
April
|
0.0345
|
0.0650
|
0.0425
|
0.0800
|
|||||||||
May
|
0.0345
|
0.0650
|
0.0425
|
0.0800
|
|||||||||
June
|
0.0325
|
0.0650
|
0.0415
|
0.0800
|
|||||||||
July
|
0.0325
|
0.0650
|
0.0415
|
0.0800
|
|||||||||
August
|
0.0325
|
0.0650
|
0.0415
|
0.0800
|
|||||||||
September
|
0.0325
|
0.0650
|
0.0415
|
0.0800
|
|||||||||
October 2015
|
0.0325
|
0.0650
|
0.0415
|
0.0800
|
|||||||||
Ordinary Income Distribution*
|
$
|
0.0009
|
$
|
0.0052
|
$
|
0.0052
|
$
|
0.0060
|
|||||
Market Yield**
|
3.87
|
%
|
4.53
|
%
|
4.51
|
%
|
6.24
|
%
|
|||||
Taxable-Equivalent Yield**
|
5.38
|
%
|
6.29
|
%
|
6.26
|
%
|
8.67
|
%
|
*
|
Distribution paid in December 2014.
|
**
|
Market Yield is based on the Fund's current annualized monthly dividend divided by the Fund's current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28.0%. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.
|
Nuveen Investments
|
11
|
NUW
|
NEV
|
||
Additional shares authorized
|
1,200,000
|
5,200,000
|
NUW
|
||
Shares sold through equity shelf program
|
122,737
|
|
Weighted average premium to NAV per share sold
|
1.36
|
% |
NUV
|
NUW
|
NMI
|
NEV
|
||
Shares cumulatively repurchased and retired
|
0
|
0
|
0
|
0
|
|
Shares authorized for repurchase
|
20,565,000
|
1,335,000
|
830,000
|
2,110,000
|
NUV
|
NUW
|
NMI
|
NEV
|
||||||||||
NAV
|
$
|
10.20
|
$
|
17.17
|
$
|
11.47
|
$
|
15.59
|
|||||
Share price
|
$
|
10.07
|
$
|
17.22
|
$
|
11.05
|
$
|
15.38
|
|||||
Premium/(Discount) to NAV
|
(1.27
|
)%
|
0.29
|
%
|
(3.66
|
)%
|
(1.35
|
)%
|
|||||
12-month average premium/(discount) to NAV
|
(4.11
|
)%
|
(1.20
|
)%
|
(0.03
|
)%
|
(2.95
|
)%
|
12
|
Nuveen Investments
|
Nuveen Investments
|
13
|
NUV
|
|
Nuveen Municipal Value Fund, Inc.
|
|
Performance Overview and Holding Summaries as of October 31, 2015
|
Average Annual
|
|||
1-Year
|
5-Year
|
10-Year
|
|
NUV at NAV
|
3.94%
|
5.57%
|
4.99%
|
NUV at Share Price
|
8.86%
|
4.98%
|
5.56%
|
S&P Municipal Bond Index
|
2.87%
|
4.41%
|
4.69%
|
Lipper General & Insured Unleveraged Municipal Debt Funds Classification Average
|
3.66%
|
5.49%
|
4.88%
|
14
|
Nuveen Investments
|
Fund Allocation
|
|
(% of net assets)
|
|
Long-Term Municipal Bonds
|
98.8%
|
Common Stocks
|
0.2%
|
Corporate Bonds
|
0.0%
|
Other Assets Less Liabilities
|
1.5%
|
Net Assets Plus Floating Rate Obligations
|
100.5%
|
Floating Rate Obligations
|
(0.5)%
|
Net Assets
|
100%
|
Credit Quality
|
|
(% of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
14.3%
|
AA
|
51.3%
|
A
|
15.3%
|
BBB
|
8.3%
|
BB or Lower
|
9.5%
|
N/R (not rated)
|
1.1%
|
N/A (not applicable)
|
0.2%
|
Total
|
100%
|
Portfolio Composition
|
|
(% of total investments)
|
|
Tax Obligation/Limited
|
20.6%
|
Health Care
|
17.7%
|
Transportation
|
15.8%
|
Tax Obligation/General
|
13.2%
|
U.S. Guaranteed
|
8.9%
|
Consumer Staples
|
6.7%
|
Utilities
|
5.2%
|
Other
|
11.9%
|
Total
|
100%
|
States and Territories
|
|
(% of total municipal bonds)
|
|
Illinois
|
14.7%
|
Texas
|
13.5%
|
California
|
12.6%
|
Florida
|
6.5%
|
Colorado
|
5.5%
|
Michigan
|
5.3%
|
New York
|
4.6%
|
Ohio
|
4.1%
|
Wisconsin
|
3.3%
|
Indiana
|
2.7%
|
Nevada
|
2.7%
|
New Jersey
|
2.7%
|
Virginia
|
2.5%
|
Other
|
19.3%
|
Total
|
100%
|
Nuveen Investments
|
15
|
NUW
|
|
Nuveen AMT-Free Municipal Value Fund
|
|
Performance Overview and Holding Summaries as of October 31, 2015
|
Average Annual
|
|||
Since
|
|||
1-Year
|
5-Year
|
Inception
|
|
NUW at NAV
|
4.56%
|
5.58%
|
8.14%
|
NUW at Share Price
|
6.79%
|
4.86%
|
7.52%
|
S&P Municipal Bond Index
|
2.87%
|
4.41%
|
5.71%
|
Lipper General & Insured Unleveraged Municipal Debt Funds Classification Average
|
3.66%
|
5.49%
|
6.22%
|
16
|
Nuveen Investments
|
Fund Allocation
|
|
(% of net assets)
|
|
Long-Term Municipal Bonds
|
101.5%
|
Other Assets Less Liabilities
|
1.6%
|
Net Assets Plus Floating Rate Obligations
|
103.1%
|
Floating Rate Obligations
|
(3.1)%
|
Net Assets
|
100%
|
Credit Quality
|
|
(% of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
19.1%
|
AA
|
35.1%
|
A
|
22.2%
|
BBB
|
14.7%
|
BB or Lower
|
7.6%
|
N/R (not rated)
|
1.3%
|
Total
|
100%
|
Portfolio Composition
|
|
(% of total investments)
|
|
Tax Obligation/Limited
|
17.5%
|
U.S. Guaranteed
|
16.8%
|
Tax Obligation/General
|
14.7%
|
Health Care
|
12.2%
|
Transportation
|
11.2%
|
Utilities
|
9.3%
|
Consumer Staples
|
6.5%
|
Other
|
11.8%
|
Total
|
100%
|
States and Territories
|
|
(% of total municipal bonds)
|
|
Illinois
|
12.1%
|
California
|
11.5%
|
Florida
|
8.1%
|
Indiana
|
7.3%
|
Louisiana
|
7.2%
|
Colorado
|
6.2%
|
Texas
|
6.2%
|
Wisconsin
|
5.8%
|
Ohio
|
5.7%
|
Michigan
|
4.1%
|
Nevada
|
4.1%
|
Arizona
|
3.4%
|
Other
|
18.3%
|
Total
|
100%
|
Nuveen Investments
|
17
|
NMI
|
|
Nuveen Municipal Income Fund, Inc.
|
|
Performance Overview and Holding Summaries as of October 31, 2015
|
Average Annual
|
|||
1-Year
|
5-Year
|
10-Year
|
|
NMI at NAV
|
4.08%
|
6.30%
|
5.68%
|
NMI at Share Price
|
2.31%
|
4.81%
|
5.65%
|
S&P Municipal Bond Index
|
2.87%
|
4.41%
|
4.69%
|
Lipper General & Insured Unleveraged Municipal Debt Funds Classification Average
|
3.66%
|
5.49%
|
4.88%
|
18
|
Nuveen Investments
|
Fund Allocation
|
|
(% of net assets)
|
|
Long-Term Municipal Bonds
|
99.5%
|
Short-Term Municipal Bonds
|
1.1%
|
Other Assets Less Liabilities
|
2.9%
|
Net Assets Plus Floating Rate Obligations
|
103.5%
|
Floating Rate Obligations
|
(3.5)%
|
Net Assets
|
100%
|
Credit Quality
|
|
(% of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
11.3%
|
AA
|
29.8%
|
A
|
24.1%
|
BBB
|
23.2%
|
BB or Lower
|
5.8%
|
N/R (not rated)
|
5.8%
|
Total
|
100%
|
Portfolio Composition
|
|
(% of total investments)
|
|
Health Care
|
22.9%
|
Tax Obligation/Limited
|
12.6%
|
Tax Obligation/General
|
11.7%
|
Utilities
|
11.5%
|
Education and Civic Organizations
|
10.0%
|
Transportation
|
9.2%
|
U.S. Guaranteed
|
6.7%
|
Consumer Staples
|
4.7%
|
Other
|
10.7%
|
Total
|
100%
|
States and Territories
|
|
(% of total municipal bonds)
|
|
California
|
18.3%
|
Texas
|
9.6%
|
Illinois
|
9.1%
|
Missouri
|
8.8%
|
Colorado
|
7.9%
|
Wisconsin
|
5.7%
|
Florida
|
5.5%
|
Ohio
|
4.9%
|
New York
|
3.9%
|
Pennsylvania
|
3.4%
|
Tennessee
|
2.5%
|
Kentucky
|
2.4%
|
Other
|
18.0%
|
Total
|
100%
|
Nuveen Investments
|
19
|
NEV
|
|
Nuveen Enhanced Municipal Value Fund
|
|
Performance Overview and Holding Summaries as of October 31, 2015
|
Average Annual | |||
Since
|
|||
1-Year
|
5-Year
|
Inception
|
|
NEV at NAV
|
5.68%
|
7.80%
|
8.01%
|
NEV at Share Price
|
9.90%
|
7.99%
|
7.11%
|
S&P Municipal Bond Index
|
2.87%
|
4.41%
|
4.60%
|
Lipper General & Insured Leveraged Municipal Debt Funds Classification Average
|
4.65%
|
7.47%
|
6.53%
|
20
|
Nuveen Investments
|
Fund Allocation
|
|
(% of net assets)
|
|
Long-Term Municipal Bonds
|
102.3%
|
Common Stocks
|
1.0%
|
Other Assets Less Liabilities
|
2.3%
|
Net Assets Plus Floating Rate Obligations
|
105.6%
|
Floating Rate Obligations
|
(5.6)%
|
Net Assets
|
100%
|
Credit Quality
|
|
(% of total investment exposure)
|
|
AAA/U.S. Guaranteed
|
10.0%
|
AA
|
39.6%
|
A
|
19.4%
|
BBB
|
12.7%
|
BB or Lower
|
10.0%
|
N/R (not rated)
|
7.6%
|
N/A (not applicable)
|
0.7%
|
Total
|
100%
|
Portfolio Composition
|
|
(% of total investments)
|
|
Tax Obligation/Limited
|
23.0%
|
Health Care
|
19.0%
|
Transportation
|
10.4%
|
Education and Civic Organizations
|
10.4%
|
Tax Obligation/General
|
6.9%
|
Consumer Staples
|
5.8%
|
Utilities
|
4.2%
|
U.S. Guaranteed
|
4.1%
|
Water and Sewer
|
4.1%
|
Other
|
12.1%
|
Total
|
100%
|
States and Territories
|
|
(% of total municipal bonds)
|
|
California
|
16.3%
|
Illinois
|
11.1%
|
Ohio
|
9.7%
|
Florida
|
6.8%
|
Pennsylvania
|
6.2%
|
Wisconsin
|
6.1%
|
Georgia
|
5.2%
|
Arizona
|
3.8%
|
Colorado
|
3.7%
|
New York
|
3.6%
|
Louisiana
|
3.1%
|
Kansas
|
2.7%
|
Texas
|
2.6%
|
Other
|
19.1%
|
Total
|
100%
|
Nuveen Investments
|
21
|
NUV
|
NUW
|
NMI
|
NEV
|
||||||||||
Common
|
Common
|
Common
|
Common
|
||||||||||
shares
|
shares
|
shares
|
shares
|
||||||||||
Approval of the Board Members was reached as follows:
|
|||||||||||||
Jack B. Evans
|
|||||||||||||
For
|
175,002,439
|
11,786,645
|
7,102,194
|
19,243,710
|
|||||||||
Withhold
|
3,880,104
|
260,513
|
227,979
|
272,235
|
|||||||||
Total
|
178,882,543
|
12,047,158
|
7,330,173
|
19,515,945
|
|||||||||
William J. Schneider
|
|||||||||||||
For
|
174,711,049
|
11,778,697
|
7,054,800
|
19,234,601
|
|||||||||
Withhold
|
4,171,494
|
268,461
|
275,373
|
281,344
|
|||||||||
Total
|
178,882,543
|
12,047,158
|
7,330,173
|
19,515,945
|
|||||||||
Thomas S. Schreier, Jr.
|
|||||||||||||
For
|
175,035,960
|
11,782,853
|
7,102,613
|
19,245,681
|
|||||||||
Withhold
|
3,846,583
|
264,305
|
227,560
|
270,264
|
|||||||||
Total
|
178,882,543
|
12,047,158
|
7,330,173
|
19,515,945
|
22
|
Nuveen Investments
|
Nuveen Investments
|
23
|
NUV
|
|
|
Nuveen Municipal Value Fund, Inc.
|
||
Portfolio of Investments
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
LONG-TERM INVESTMENTS – 99.0%
|
|||||||||
MUNICIPAL BONDS – 98.8%
|
|||||||||
Alaska – 0.1%
|
|||||||||
$
|
2,710
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32
|
1/16 at 100.00
|
B
|
$
|
2,462,062
|
|||
Arizona – 0.8%
|
|||||||||
2,500
|
Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2008A, 5.000%, 7/01/38
|
7/18 at 100.00
|
AA–
|
2,720,200
|
|||||
2,575
|
Quechan Indian Tribe of the Fort Yuma Reservation, Arizona, Government Project Bonds, Series 2008, 7.000%, 12/01/27
|
12/17 at 102.00
|
B–
|
2,464,764
|
|||||
5,600
|
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
|
A–
|
6,257,776
|
|||||
4,240
|
Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2006C. Re-offering, 5.000%, 9/01/35 – AGC Insured
|
9/20 at 100.00
|
AA
|
4,675,151
|
|||||
14,915
|
Total Arizona
|
16,117,891
|
|||||||
Arkansas – 0.3%
|
|||||||||
1,150
|
Benton Washington Regional Public Water Authority, Arkansas, Water Revenue Bonds, Refunding & Improvement Series 2007, 4.750%, 10/01/33 (Pre-refunded 10/01/17) – SYNCORA GTY Insured
|
10/17 at 100.00
|
A– (4)
|
1,239,896
|
|||||
5,650
|
Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds, Series 2006A, 4.750%, 11/01/18 – AGM Insured
|
No Opt. Call
|
AA
|
5,880,294
|
|||||
6,800
|
Total Arkansas
|
7,120,190
|
|||||||
California – 12.4%
|
|||||||||
4,615
|
Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/23 – AGM Insured
|
No Opt. Call
|
AA
|
3,773,639
|
|||||
5,000
|
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2013S-4, 5.000%, 4/01/38
|
4/23 at 100.00
|
AA–
|
5,576,100
|
|||||
4,985
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Gold Country Settlement Funding Corporation, Series 2006, 0.000%, 6/01/33
|
1/16 at 36.77
|
CCC
|
1,411,553
|
|||||
3,275
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.450%, 6/01/28
|
12/18 at 100.00
|
B
|
3,281,747
|
|||||
California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2006:
|
|||||||||
5,000
|
5.000%, 4/01/37 – BHAC Insured
|
4/16 at 100.00
|
AA+
|
5,085,700
|
|||||
6,000
|
5.000%, 4/01/37 (UB) (5)
|
4/16 at 100.00
|
A+
|
6,076,980
|
|||||
3,850
|
California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System, Series 2013A, 5.000%, 7/01/33
|
7/23 at 100.00
|
AA–
|
4,436,548
|
|||||
2,335
|
California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40
|
7/20 at 100.00
|
Baa2
|
2,551,501
|
|||||
2,130
|
California Pollution Control Financing Authority, Revenue Bonds, Pacific Gas and Electric Company, Series 2004C, 4.750%, 12/01/23 – FGIC Insured (Alternative Minimum Tax)
|
6/17 at 100.00
|
A3
|
2,237,629
|
|||||
5,025
|
California State Public Works Board, Lease Revenue Bonds, Department of Health Services, Series 2005K, 5.000%, 11/01/23 (Pre-refunded 12/01/15)
|
12/15 at 100.00
|
A+ (4)
|
5,044,849
|
|||||
1,625
|
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 2013I, 5.000%, 11/01/38
|
11/23 at 100.00
|
A+
|
1,834,966
|
|||||
4,400
|
California State, General Obligation Bonds, Refunding Series 2007, 4.500%, 8/01/30
|
2/17 at 100.00
|
AA–
|
4,591,752
|
|||||
16,000
|
California State, General Obligation Bonds, Various Purpose Series 2007, 5.000%, 6/01/37
|
6/17 at 100.00
|
AA–
|
16,983,520
|
|||||
5,000
|
California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41
|
10/21 at 100.00
|
AA–
|
5,613,500
|
24
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
California (continued)
|
|||||||||
$
|
925
|
California Statewide Community Development Authority, Certificates of Participation, Internext Group, Series 1999, 5.375%, 4/01/17
|
4/16 at 100.00
|
BBB+
|
$
|
928,968
|
|||
3,125
|
California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38
|
8/19 at 100.00
|
Aa2
|
3,680,375
|
|||||
3,600
|
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 – FGIC Insured
|
7/18 at 100.00
|
AA–
|
3,983,364
|
|||||
14,145
|
Chabot-Las Positas Community College District, California, General Obligation Bonds, Series 2006C, 0.000%, 8/01/43 – AMBAC Insured
|
No Opt. Call
|
Aa3
|
3,558,882
|
|||||
6,120
|
Chino Valley Unified School District, San Bernardino County, California, General Obligation Bonds, Series 2006D, 0.000%, 8/01/30
|
8/16 at 51.12
|
Aa2
|
3,098,801
|
|||||
5,000
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 5.000%, 8/01/32 (Pre-refunded 8/01/18) – AGM Insured
|
8/18 at 100.00
|
Aa1 (4)
|
5,580,950
|
|||||
4,505
|
Covina-Valley Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2003B, 0.000%, 6/01/28 – FGIC Insured
|
No Opt. Call
|
AA–
|
2,683,944
|
|||||
16,045
|
Desert Community College District, Riverside County, California, General Obligation Bonds, Election 2004 Series 2007C, 0.000%, 8/01/33 – AGM Insured
|
8/17 at 42.63
|
AA
|
6,621,290
|
|||||
2,180
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A, 0.000%, 1/15/42
|
1/31 at 100.00
|
BBB–
|
1,656,190
|
|||||
30,000
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 0.000%, 1/01/22 (ETM)
|
No Opt. Call
|
Aaa
|
27,082,800
|
|||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:
|
|||||||||
23,995
|
4.500%, 6/01/27
|
6/17 at 100.00
|
B+
|
23,548,213
|
|||||
14,475
|
5.000%, 6/01/33
|
6/17 at 100.00
|
B
|
12,913,291
|
|||||
1,500
|
5.125%, 6/01/47
|
6/17 at 100.00
|
B
|
1,273,995
|
|||||
4,500
|
Hemet Unified School District, Riverside County, California, General Obligation Bonds, Series 2008B, 5.125%, 8/01/37 (Pre-refunded 8/01/16) – AGC Insured
|
8/16 at 102.00
|
AA (4)
|
4,755,825
|
|||||
Merced Union High School District, Merced County, California, General Obligation Bonds, Series 1999A:
|
|||||||||
2,500
|
0.000%, 8/01/23 – FGIC Insured
|
No Opt. Call
|
AA–
|
2,027,975
|
|||||
2,555
|
0.000%, 8/01/24 – FGIC Insured
|
No Opt. Call
|
AA–
|
1,982,143
|
|||||
2,365
|
Montebello Unified School District, Los Angeles County, California, General Obligation Bonds, Election 1998 Series 2004, 0.000%, 8/01/27 – FGIC Insured
|
No Opt. Call
|
AA–
|
1,533,868
|
|||||
Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A:
|
|||||||||
3,060
|
0.000%, 8/01/28
|
2/28 at 100.00
|
AA
|
2,644,789
|
|||||
2,315
|
0.000%, 8/01/43
|
8/35 at 100.00
|
AA
|
1,619,991
|
|||||
3,550
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C, 6.500%, 11/01/39
|
No Opt. Call
|
A
|
4,790,370
|
|||||
Napa Valley Community College District, Napa and Sonoma Counties, California, General Obligation Bonds, Election 2002 Series 2007C:
|
|||||||||
7,200
|
0.000%, 8/01/29 – NPFG Insured
|
8/17 at 54.45
|
Aa2
|
3,786,984
|
|||||
11,575
|
0.000%, 8/01/31 – NPFG Insured
|
8/17 at 49.07
|
Aa2
|
5,486,550
|
|||||
2,620
|
New Haven Unified School District, Alameda County, California, General Obligation Bonds, Series 2004A, 0.000%, 8/01/28 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,426,695
|
|||||
2,350
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39
|
11/19 at 100.00
|
Ba1
|
2,602,884
|
|||||
10,150
|
Placer Union High School District, Placer County, California, General Obligation Bonds, Series 2004C, 0.000%, 8/01/33 – AGM Insured
|
No Opt. Call
|
AA
|
4,933,712
|
|||||
2,125
|
Rancho Mirage Joint Powers Financing Authority, California, Certificates of Participation, Eisenhower Medical Center, Series 1997B, 4.875%, 7/01/22 – NPFG Insured
|
7/17 at 100.00
|
A3
|
2,171,793
|
|||||
4,000
|
Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2007A, 5.000%, 7/01/47
|
7/17 at 100.00
|
Baa2
|
4,132,200
|
Nuveen Investments
|
25
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
California (continued)
|
|||||||||
$
|
15,505
|
Riverside Public Financing Authority, California, Tax Allocation Bonds, University Corridor, Series 2007C, 5.000%, 8/01/37 – NPFG Insured
|
8/17 at 100.00
|
AA–
|
$
|
16,138,688
|
|||
San Bruno Park School District, San Mateo County, California, General Obligation Bonds, Series 2000B:
|
|||||||||
2,575
|
0.000%, 8/01/24 – FGIC Insured
|
No Opt. Call
|
AA
|
2,058,944
|
|||||
2,660
|
0.000%, 8/01/25 – FGIC Insured
|
No Opt. Call
|
AA
|
2,036,523
|
|||||
250
|
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D, 7.000%, 8/01/41
|
2/21 at 100.00
|
BBB+
|
300,640
|
|||||
12,095
|
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A, 0.000%, 1/15/25 – NPFG Insured
|
No Opt. Call
|
AA–
|
8,334,665
|
|||||
5,000
|
San Jose, California, Airport Revenue Bonds, Series 2007A, 6.000%, 3/01/47 – AMBAC Insured (Alternative Minimum Tax)
|
3/17 at 100.00
|
A2
|
5,275,900
|
|||||
13,220
|
San Mateo County Community College District, California, General Obligation Bonds, Series 2006A, 0.000%, 9/01/28 – NPFG Insured
|
No Opt. Call
|
AAA
|
8,946,635
|
|||||
5,000
|
San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/24 – FGIC Insured
|
No Opt. Call
|
AA+
|
4,036,100
|
|||||
5,815
|
San Ysidro School District, San Diego County, California, General Obligation Bonds, Refunding Series 2015, 0.000%, 8/01/48
|
No Opt. Call
|
AA
|
1,079,264
|
|||||
2,000
|
Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2005A-2, 5.400%, 6/01/27
|
6/17 at 100.00
|
B+
|
1,946,220
|
|||||
1,090
|
University of California, General Revenue Bonds, Series 2009O, 5.250%, 5/15/39
|
5/19 at 100.00
|
AA
|
1,228,648
|
|||||
210
|
University of California, General Revenue Bonds, Series 2009O, 5.250%, 5/15/39 (Pre-refunded 5/15/19)
|
5/19 at 100.00
|
N/R (4)
|
241,960
|
|||||
321,140
|
Total California
|
260,631,013
|
|||||||
Colorado – 5.4%
|
|||||||||
5,000
|
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 – SYNCORA GTY Insured
|
10/16 at 100.00
|
BBB–
|
5,089,250
|
|||||
5,200
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38
|
9/16 at 100.00
|
A+
|
5,272,384
|
|||||
7,105
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45
|
1/23 at 100.00
|
A+
|
7,762,213
|
|||||
1,700
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 – AGM Insured
|
9/18 at 102.00
|
AA
|
1,846,591
|
|||||
15,925
|
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–
|
17,518,137
|
|||||
750
|
Colorado Health Facilities Authority, Revenue Bonds, Longmont United Hospital, Series 2006B, 5.000%, 12/01/23 – RAAI Insured
|
12/16 at 100.00
|
AA
|
775,065
|
|||||
2,000
|
Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Series 2012A, 5.000%, 3/01/41
|
3/22 at 100.00
|
Aa2
|
2,209,720
|
|||||
Denver City and County, Colorado, Airport System Revenue Bonds, Series 2012B:
|
|||||||||
1,000
|
4.000%, 11/15/15
|
No Opt. Call
|
A+
|
1,001,640
|
|||||
2,750
|
5.000%, 11/15/25
|
No Opt. Call
|
A+
|
3,280,393
|
|||||
2,200
|
5.000%, 11/15/29
|
11/22 at 100.00
|
A+
|
2,583,526
|
|||||
5,160
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43
|
11/23 at 100.00
|
A
|
5,709,798
|
|||||
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
|||||||||
9,450
|
0.000%, 9/01/29 – NPFG Insured
|
No Opt. Call
|
AA–
|
5,732,937
|
|||||
24,200
|
0.000%, 9/01/31 – NPFG Insured
|
No Opt. Call
|
AA–
|
13,343,153
|
|||||
17,000
|
0.000%, 9/01/32 – NPFG Insured
|
No Opt. Call
|
AA–
|
8,953,220
|
|||||
7,600
|
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Refunding Series 2006B, 0.000%, 9/01/39 – NPFG Insured
|
9/26 at 52.09
|
AA–
|
2,482,160
|
26
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Colorado (continued)
|
|||||||||
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B:
|
|||||||||
$
|
7,700
|
0.000%, 9/01/27 – NPFG Insured
|
9/20 at 67.94
|
AA–
|
$
|
4,381,454
|
|||
10,075
|
0.000%, 3/01/36 – NPFG Insured
|
9/20 at 41.72
|
AA–
|
3,425,802
|
|||||
5,000
|
Ebert Metropolitan District, Colorado, Limited Tax General Obligation Bonds, Series 2007, 5.350%, 12/01/37 – RAAI Insured
|
12/17 at 100.00
|
AA
|
5,116,350
|
|||||
7,000
|
Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001C, 5.700%, 6/15/21 (Pre-refunded 6/15/16) – AMBAC Insured
|
6/16 at 100.00
|
N/R (4)
|
7,230,440
|
|||||
5,000
|
Rangely Hospital District, Rio Blanco County, Colorado, General Obligation Bonds, Refunding Series 2011, 6.000%, 11/01/26
|
11/21 at 100.00
|
Baa1
|
5,791,100
|
|||||
3,750
|
Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.000%, 1/15/41
|
7/20 at 100.00
|
Baa3
|
4,224,563
|
|||||
145,565
|
Total Colorado
|
113,729,896
|
|||||||
Connecticut – 1.0%
|
|||||||||
1,500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
A
|
1,627,170
|
|||||
15,000
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2007Z-1, 5.000%, 7/01/42
|
7/16 at 100.00
|
AAA
|
15,381,300
|
|||||
8,355
|
Mashantucket Western Pequot Tribe, Connecticut, Special Revenue Bonds, Subordinate Series 2013A, 6.050%, 7/01/31 (6)
|
No Opt. Call
|
N/R
|
551,195
|
|||||
3,000
|
University of Connecticut, General Obligation Bonds, Refunding Series 2014A, 4.000%, 2/15/16
|
No Opt. Call
|
AA
|
3,034,080
|
|||||
27,855
|
Total Connecticut
|
20,593,745
|
|||||||
District of Columbia – 0.5%
|
|||||||||
10,000
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 – AMBAC Insured
|
10/16 at 100.00
|
A1
|
10,267,000
|
|||||
Florida – 6.4%
|
|||||||||
3,000
|
Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 – AGM Insured
|
10/21 at 100.00
|
AA
|
3,375,150
|
|||||
4,000
|
Citizens Property Insurance Corporation, Florida, Personal and Commercial Lines Account Bonds, Senior Secured Series 2012A-1, 5.000%, 6/01/16
|
No Opt. Call
|
AA–
|
4,110,600
|
|||||
2,845
|
Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Refunding Series 2009C, 5.000%, 10/01/34
|
No Opt. Call
|
AA–
|
3,184,266
|
|||||
2,290
|
Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Subordinate Lien Series 2015B, 5.000%, 10/01/40
|
10/24 at 100.00
|
A+
|
2,536,358
|
|||||
2,650
|
Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa General Hospital, Series 2006, 5.250%, 10/01/41
|
10/16 at 100.00
|
A
|
2,717,231
|
|||||
5,000
|
Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center, Series 2007, 5.000%, 10/01/34 (Pre-refunded 10/01/17)
|
10/17 at 100.00
|
BBB+ (4)
|
5,420,200
|
|||||
4,090
|
Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2010A, 5.000%, 7/01/40
|
7/20 at 100.00
|
A
|
4,513,029
|
|||||
9,500
|
Miami-Dade County Health Facility Authority, Florida, Hospital Revenue Bonds, Miami Children's Hospital, Series 2010A, 6.000%, 8/01/46
|
8/21 at 100.00
|
A+
|
10,861,254
|
|||||
2,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding Series 2014B, 5.000%, 10/01/37
|
10/24 at 100.00
|
A
|
2,250,920
|
|||||
6,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2009B, 5.500%, 10/01/36
|
10/19 at 100.00
|
A
|
6,821,160
|
|||||
4,000
|
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/29
|
10/20 at 100.00
|
A
|
4,409,440
|
|||||
4,000
|
Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/42
|
7/22 at 100.00
|
AA
|
4,421,560
|
Nuveen Investments
|
27
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Florida (continued)
|
|||||||||
$
|
9,590
|
Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/39 – AGM Insured
|
10/20 at 100.00
|
AA
|
$
|
10,857,990
|
|||
2,900
|
Orange County, Florida, Tourist Development Tax Revenue Bonds, Series 2006, 5.000%, 10/01/31 – SYNCORA GTY Insured
|
10/16 at 100.00
|
AA
|
3,006,430
|
|||||
10,725
|
Orlando, Florida, Contract Tourist Development Tax Payments Revenue Bonds, Series 2014A, 5.000%, 11/01/44
|
5/24 at 100.00
|
AA+
|
11,857,774
|
|||||
3,250
|
Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical Center, Series 2013A, 5.000%, 11/01/43
|
11/22 at 100.00
|
BBB+
|
3,437,623
|
|||||
9,440
|
Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B, Series 2007, 5.000%, 7/01/40 – NPFG Insured
|
7/17 at 100.00
|
AA–
|
9,987,426
|
|||||
8,175
|
Saint John's County, Florida, Sales Tax Revenue Bonds, Series 2006, 5.000%, 10/01/36 (Pre-refunded 10/01/16) – BHAC Insured
|
10/16 at 100.00
|
AA+ (4)
|
8,524,400
|
|||||
2,500
|
Seminole Tribe of Florida, Special Obligation Bonds, Series 2007A, 144A, 5.250%, 10/01/27
|
10/17 at 100.00
|
BBB–
|
2,621,775
|
|||||
6,865
|
South Broward Hospital District, Florida, Hospital Revenue Bonds, Refunding Series 2015, 4.000%, 5/01/34
|
5/25 at 100.00
|
AA–
|
6,968,181
|
|||||
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007:
|
|||||||||
3,035
|
5.000%, 8/15/19
|
8/17 at 100.00
|
AA
|
3,266,085
|
|||||
14,730
|
5.000%, 8/15/42 (UB)
|
8/17 at 100.00
|
AA
|
15,352,343
|
|||||
3,300
|
Tampa, Florida, Health System Revenue Bonds, Baycare Health System, Series 2012A, 5.000%, 11/15/33
|
5/22 at 100.00
|
Aa2
|
3,710,718
|
|||||
123,885
|
Total Florida
|
134,211,913
|
|||||||
Georgia – 0.1%
|
|||||||||
2,500
|
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Refunding Series 2015, 5.000%, 11/01/34
|
5/25 at 100.00
|
AA–
|
2,881,725
|
|||||
Guam – 0.0%
|
|||||||||
330
|
Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (Alternative Minimum Tax)
|
10/23 at 100.00
|
BBB
|
385,787
|
|||||
Hawaii – 0.2%
|
|||||||||
3,625
|
Honolulu City and County, Hawaii, General Obligation Bonds, Series 2009A, 5.250%, 4/01/32 (Pre-refunded 4/01/19)
|
4/19 at 100.00
|
Aa1 (4)
|
4,153,525
|
|||||
Illinois – 14.5%
|
|||||||||
5,125
|
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System Revenue Bonds, Series 2006A, 5.000%, 4/01/36 (Pre-refunded 4/01/16) – NPFG Insured
|
4/16 at 100.00
|
AA– (4)
|
5,225,860
|
|||||
17,725
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/24 – FGIC Insured
|
No Opt. Call
|
AA–
|
11,267,960
|
|||||
7,195
|
Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1999A, 0.000%, 12/01/31 – FGIC Insured
|
No Opt. Call
|
AA–
|
2,970,887
|
|||||
1,500
|
Chicago Park District, Illinois, General Obligation Bonds, Limited Tax Series 2011A, 5.000%, 1/01/36
|
1/22 at 100.00
|
AA+
|
1,562,055
|
|||||
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A:
|
|||||||||
2,585
|
4.750%, 1/01/30 – AGM Insured
|
1/16 at 100.00
|
AA
|
2,587,404
|
|||||
5,000
|
4.625%, 1/01/31 – AGM Insured
|
1/16 at 100.00
|
AA
|
5,003,300
|
|||||
3,520
|
Chicago, Illinois, General Obligation Bonds, Project and Refunding Series 2006A, 5.000%, 1/01/17 – AGM Insured
|
1/16 at 100.00
|
AA
|
3,543,654
|
|||||
285
|
Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.625%, 1/01/39 – AMBAC Insured
|
1/16 at 100.00
|
AA–
|
285,248
|
|||||
7,750
|
Chicago, Illinois, General Obligation Bonds, Series 2004A, 5.000%, 1/01/34 – AGM Insured
|
1/16 at 100.00
|
AA
|
7,757,905
|
|||||
3,500
|
Chicago, Illinois, General Obligation Bonds, Series 2005A, 5.000%, 1/01/17 – AGM Insured
|
1/16 at 100.00
|
AA
|
3,513,440
|
|||||
3,320
|
Cook and DuPage Counties Combined School District 113A Lemont, Illinois, General Obligation Bonds, Series 2002, 0.000%, 12/01/20 – FGIC Insured
|
No Opt. Call
|
AA–
|
2,754,305
|
|||||
3,020
|
Cook County High School District 209, Proviso Township, Illinois, General Obligation Bonds, Series 2004, 5.000%, 12/01/19 – AGM Insured
|
12/16 at 100.00
|
AA
|
3,136,421
|
28
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Illinois (continued)
|
|||||||||
$
|
8,875
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
$
|
9,220,770
|
|||
3,260
|
Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.500%, 10/15/40
|
10/20 at 100.00
|
Caa1
|
3,387,107
|
|||||
5,000
|
Cook County, Illinois, Sales Tax Revenue Bonds, Series 2012, 5.000%, 11/15/37
|
No Opt. Call
|
AAA
|
5,550,050
|
|||||
13,070
|
Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/19 – AGM Insured
|
No Opt. Call
|
Aa3
|
12,211,561
|
|||||
14,960
|
Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 – Elgin, Series 2002, 0.000%, 1/01/19 – AGM Insured (ETM)
|
No Opt. Call
|
Aa3 (4)
|
14,510,451
|
|||||
1,800
|
Illinois Development Finance Authority, Local Government Program Revenue Bonds, Winnebago and Boone Counties School District 205 – Rockford, Series 2000, 0.000%, 2/01/19 – AGM Insured
|
No Opt. Call
|
A2
|
1,685,610
|
|||||
1,875
|
Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39
|
11/19 at 100.00
|
AA+
|
2,145,675
|
|||||
3,000
|
Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39
|
11/19 at 100.00
|
AA+
|
3,319,620
|
|||||
4,845
|
Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39
|
5/20 at 100.00
|
A
|
5,575,432
|
|||||
4,800
|
Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A, 7.750%, 8/15/34
|
8/19 at 100.00
|
BBB+
|
5,798,832
|
|||||
2,000
|
Illinois Finance Authority, Revenue Bonds, Resurrection Health Care System, Series 1999B, 5.000%, 5/15/19 – AGM Insured
|
5/18 at 100.00
|
AA
|
2,180,620
|
|||||
4,260
|
Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A, 5.500%, 8/01/37 (Pre-refunded 8/01/17)
|
8/17 at 100.00
|
N/R (4)
|
4,621,930
|
|||||
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
|
611,850
|
|||||
825
|
5.000%, 8/15/44
|
8/25 at 100.00
|
Baa1
|
886,058
|
|||||
2,500
|
Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41
|
2/21 at 100.00
|
AA–
|
2,782,875
|
|||||
3,000
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51
|
10/21 at 100.00
|
AA+
|
3,203,880
|
|||||
5,245
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Tender Option Bond Trust 2015-XF0248, 9.282%, 7/01/46 (Pre-refunded 7/01/17) (IF) (5)
|
7/17 at 100.00
|
AA+ (4)
|
6,020,578
|
|||||
4,475
|
Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30
|
8/18 at 100.00
|
BBB+
|
4,739,562
|
|||||
1,750
|
Illinois Health Facilities Authority, Revenue Bonds, South Suburban Hospital, Series 1992, 7.000%, 2/15/18 (ETM)
|
No Opt. Call
|
N/R (4)
|
1,886,308
|
|||||
3,750
|
Illinois Sports Facility Authority, State Tax Supported Bonds, Series 2001, 5.500%, 6/15/30 – AMBAC Insured
|
6/16 at 100.00
|
A
|
3,802,050
|
|||||
655
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/25
|
8/22 at 100.00
|
A–
|
700,084
|
|||||
5,590
|
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38
|
1/23 at 100.00
|
AA–
|
6,132,230
|
|||||
5,000
|
Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-2, 5.500%, 1/01/36 – ACA Insured
|
1/16 at 100.00
|
CC
|
4,241,800
|
|||||
16,800
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 1996A, 0.000%, 12/15/21 – NPFG Insured
|
No Opt. Call
|
AA–
|
13,950,551
|
|||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2002B:
|
|||||||||
3,070
|
5.500%, 6/15/20 – NPFG Insured
|
6/17 at 101.00
|
AA–
|
3,323,920
|
|||||
3,950
|
5.550%, 6/15/21 – NPFG Insured
|
6/17 at 101.00
|
AA–
|
4,274,493
|
|||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Refunding Series 2002B:
|
|||||||||
705
|
5.500%, 6/15/20 (Pre-refunded 6/15/17) – NPFG Insured
|
6/17 at 101.00
|
AA– (4)
|
768,450
|
|||||
1,765
|
5.550%, 6/15/21 (Pre-refunded 6/15/17) – NPFG Insured
|
6/17 at 101.00
|
AA– (4)
|
1,925,280
|
Nuveen Investments
|
29
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Illinois (continued)
|
|||||||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A:
|
|||||||||
$
|
9,415
|
0.000%, 6/15/17 – NPFG Insured
|
No Opt. Call
|
AA–
|
$
|
9,198,737
|
|||
9,270
|
0.010%, 6/15/18 – FGIC Insured
|
No Opt. Call
|
BBB+
|
8,831,529
|
|||||
2,905
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A, 0.000%, 6/15/17 – NPFG Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
2,872,348
|
|||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B:
|
|||||||||
7,250
|
0.000%, 6/15/18 – NPFG Insured
|
No Opt. Call
|
AA–
|
6,907,075
|
|||||
3,635
|
0.000%, 6/15/21 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,079,172
|
|||||
5,190
|
0.000%, 6/15/28 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,123,342
|
|||||
11,670
|
0.000%, 6/15/29 – FGIC Insured
|
No Opt. Call
|
AA–
|
6,637,313
|
|||||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:
|
|||||||||
10,000
|
0.000%, 6/15/24 – NPFG Insured
|
6/22 at 101.00
|
AA–
|
10,710,200
|
|||||
4,950
|
0.000%, 12/15/32 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,304,324
|
|||||
21,375
|
0.000%, 6/15/34 – NPFG Insured
|
No Opt. Call
|
AA–
|
9,154,699
|
|||||
21,000
|
0.000%, 12/15/35 – NPFG Insured
|
No Opt. Call
|
AA–
|
8,334,480
|
|||||
21,970
|
0.000%, 6/15/36 – NPFG Insured
|
No Opt. Call
|
AA–
|
8,470,314
|
|||||
10,375
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,908,574
|
|||||
25,825
|
0.000%, 6/15/39 – NPFG Insured
|
No Opt. Call
|
AA–
|
8,509,079
|
|||||
6,095
|
Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2002A, 6.000%, 7/01/32 – NPFG Insured
|
No Opt. Call
|
AA
|
7,889,368
|
|||||
1,160
|
Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Area 4, Series 2007, 4.700%, 3/01/33 – AGC Insured
|
3/17 at 100.00
|
AA
|
1,170,220
|
|||||
5,020
|
Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/23 – AGM Insured
|
No Opt. Call
|
AA
|
3,887,287
|
|||||
3,000
|
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22 – NPFG Insured
|
3/17 at 100.00
|
AA–
|
3,161,940
|
|||||
4,900
|
Springfield, Illinois, Electric Revenue Bonds, Series 2006, 5.000%, 3/01/26 – NPFG Insured
|
3/16 at 100.00
|
AA–
|
4,963,700
|
|||||
615
|
University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42
|
10/23 at 100.00
|
A
|
698,880
|
|||||
1,575
|
Will County Community School District 161, Summit Hill, Illinois, Capital Appreciation School Bonds, Series 1999, 0.000%, 1/01/18 – FGIC Insured
|
No Opt. Call
|
A3
|
1,493,793
|
|||||
720
|
Will County Community School District 161, Summit Hill, Illinois, Capital Appreciation School Bonds, Series 1999, 0.000%, 1/01/18 – FGIC Insured (ETM)
|
No Opt. Call
|
A3 (4)
|
707,868
|
|||||
Will County Community Unit School District 201U, Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2004:
|
|||||||||
3,680
|
0.000%, 11/01/16 – FGIC Insured
|
No Opt. Call
|
AA–
|
3,651,701
|
|||||
3,330
|
0.000%, 11/01/22 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,719,744
|
|||||
2,945
|
Will County School District 86, Joliet, Illinois, General Obligation Bonds, Series 2002, 0.000%, 11/01/15 – AGM Insured
|
No Opt. Call
|
AA
|
2,944,971
|
|||||
385,780
|
Total Illinois
|
304,396,724
|
|||||||
Indiana – 2.7%
|
|||||||||
300
|
Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/24
|
4/17 at 100.00
|
BB+
|
301,047
|
|||||
5,010
|
Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series 2012A, 5.000%, 5/01/42
|
5/23 at 100.00
|
A
|
5,431,592
|
|||||
2,250
|
Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Refunding 2015A, 4.000%, 12/01/40
|
6/25 at 100.00
|
AA–
|
2,251,710
|
|||||
1,640
|
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing Project, Series 2013A, 5.000%, 7/01/48 (Alternative Minimum Tax)
|
7/23 at 100.00
|
BBB
|
1,735,317
|
|||||
3,000
|
Indiana Finance Authority, State Revolving Fund Program Bonds, Series 2006A, 5.000%, 2/01/16
|
No Opt. Call
|
AAA
|
3,037,410
|
30
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Indiana (continued)
|
|||||||||
$
|
4,000
|
Indiana Finance Authority, Tax-Exempt Private Activity Revenue Bonds, I-69 Section 5 Project, Series 2014, 5.000%, 9/01/46 (Alternative Minimum Tax)
|
9/24 at 100.00
|
BBB
|
$
|
4,292,000
|
|||
2,250
|
Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Sisters of Saint Francis Health Services Inc., Series 2006E, 5.250%,
5/15/41 – AGM Insured |
5/18 at 100.00
|
Aa3
|
2,382,345
|
|||||
970
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37
|
3/17 at 100.00
|
A
|
1,010,449
|
|||||
1,030
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37 (Pre-refunded 3/01/17)
|
3/17 at 100.00
|
N/R (4)
|
1,099,051
|
|||||
8,235
|
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 – NPFG Insured
|
1/17 at 100.00
|
AA–
|
8,558,883
|
|||||
Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E:
|
|||||||||
12,500
|
0.000%, 2/01/21 – AMBAC Insured
|
No Opt. Call
|
AA
|
11,352,750
|
|||||
2,400
|
0.000%, 2/01/25 – AMBAC Insured
|
No Opt. Call
|
AA
|
1,868,712
|
|||||
14,595
|
0.000%, 2/01/27 – AMBAC Insured
|
No Opt. Call
|
AA
|
10,440,386
|
|||||
2,565
|
Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development Project, Series 2010, 6.750%, 1/15/32
|
7/20 at 100.00
|
N/R
|
2,827,015
|
|||||
60,745
|
Total Indiana
|
56,588,667
|
|||||||
Iowa – 1.3%
|
|||||||||
14,500
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2013, 5.500%, 12/01/22
|
12/18 at 100.00
|
BB–
|
15,380,150
|
|||||
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
|
|||||||||
175
|
5.375%, 6/01/38
|
1/16 at 100.00
|
B+
|
165,272
|
|||||
7,000
|
5.625%, 6/01/46
|
1/16 at 100.00
|
B+
|
6,774,600
|
|||||
4,965
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34
|
6/17 at 100.00
|
B+
|
4,926,819
|
|||||
26,640
|
Total Iowa
|
27,246,841
|
|||||||
Kansas – 0.2%
|
|||||||||
4,660
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Capital Appreciation Revenue Bonds Redevelopment Project Area B – Major Multi-Sport Athletic Complex Project, Subordinate Lien Series 2010B, 0.000%, 6/01/21
|
No Opt. Call
|
A–
|
3,429,527
|
|||||
Kentucky – 0.4%
|
|||||||||
755
|
Greater Kentucky Housing Assistance Corporation, FHA-Insured Section 8 Mortgage Revenue Refunding Bonds, Series 1997A, 6.100%, 1/01/24 – NPFG Insured
|
1/16 at 100.00
|
AA–
|
756,910
|
|||||
1,750
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/38 – AGC Insured
|
6/18 at 100.00
|
AA
|
1,905,908
|
|||||
1,170
|
Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project Series 2007A, 5.000%, 9/01/37 – NPFG Insured
|
9/17 at 100.00
|
AA–
|
1,235,766
|
|||||
6,000
|
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation Series 2013C, 0.000%, 7/01/39
|
7/31 at 100.00
|
Baa3
|
4,309,680
|
|||||
9,675
|
Total Kentucky
|
8,208,264
|
|||||||
Louisiana – 1.8%
|
|||||||||
12,000
|
Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32
|
11/17 at 100.00
|
BBB+
|
13,019,640
|
|||||
2,310
|
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2009A, 6.500%, 8/01/29
|
8/20 at 100.00
|
BBB+
|
2,719,263
|
|||||
5,450
|
Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2010A-1, 6.500%, 11/01/35
|
11/20 at 100.00
|
BBB+
|
6,435,469
|
|||||
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A:
|
|||||||||
2,640
|
5.250%, 5/15/38
|
5/17 at 100.00
|
Baa1
|
2,758,906
|
|||||
1,375
|
5.375%, 5/15/43
|
5/17 at 100.00
|
Baa1
|
1,437,384
|
Nuveen Investments
|
31
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Louisiana (continued)
|
|||||||||
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A:
|
|||||||||
$
|
1,005
|
5.250%, 5/15/38 (Pre-refunded 5/15/17)
|
5/17 at 100.00
|
N/R (4)
|
$
|
1,077,913
|
|||
525
|
5.375%, 5/15/43 (Pre-refunded 5/15/17)
|
5/17 at 100.00
|
N/R (4)
|
564,097
|
|||||
5,000
|
Louisiana Public Facilities Authority, Revenue Bonds, University of New Orleans Research and Technology, Series 2006, 5.250%, 3/01/37 (Pre-refunded 9/01/16) – NPFG Insured
|
9/16 at 100.00
|
AA– (4)
|
5,205,550
|
|||||
5,000
|
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A, 5.000%, 5/01/41 (Pre-refunded 5/01/16) – AGM Insured
|
5/16 at 100.00
|
Aa1 (4)
|
5,118,650
|
|||||
35,305
|
Total Louisiana
|
38,336,872
|
|||||||
Maine – 0.1%
|
|||||||||
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
|
BBB–
|
1,190,553
|
|||||
Maryland – 0.6%
|
|||||||||
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A:
|
|||||||||
1,300
|
5.250%, 9/01/17 – SYNCORA GTY Insured
|
9/16 at 100.00
|
Ba1
|
1,339,117
|
|||||
3,240
|
4.600%, 9/01/30 – SYNCORA GTY Insured
|
9/16 at 100.00
|
Ba1
|
3,289,637
|
|||||
1,545
|
5.250%, 9/01/39 – SYNCORA GTY Insured
|
9/16 at 100.00
|
Ba1
|
1,576,904
|
|||||
2,500
|
Baltimore, Maryland, Subordinate Lien Convention Center Hotel Revenue Bonds, Series 2006B, 5.875%, 9/01/39
|
9/16 at 100.00
|
BB
|
2,551,375
|
|||||
1,050
|
Maryland Health and Higher Educational Facilities Authority, Maryland, Hospital Revenue Bonds, Meritus Medical Center, Series 2015, 5.000%, 7/01/40
|
7/25 at 100.00
|
BBB
|
1,133,024
|
|||||
1,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.125%, 1/01/36
|
1/22 at 100.00
|
Baa2
|
1,699,350
|
|||||
11,135
|
Total Maryland
|
11,589,407
|
|||||||
Massachusetts – 1.9%
|
|||||||||
3,550
|
Massachusetts Bay Transportation Authority, Assessment Bonds, Series 2008A, 5.250%, 7/01/34
|
7/18 at 100.00
|
AAA
|
3,923,105
|
|||||
1,450
|
Massachusetts Bay Transportation Authority, Assessment Bonds, Series 2008A, 5.250%, 7/01/34 (Pre-refunded 7/01/18)
|
7/18 at 100.00
|
N/R (4)
|
1,620,274
|
|||||
2,100
|
Massachusetts Development Finance Agency, Hospital Revenue Bonds, Cape Cod Healthcare Obligated Group, Series 2013, 5.250%, 11/15/41
|
11/23 at 100.00
|
A
|
2,367,372
|
|||||
1,347
|
Massachusetts Development Finance Agency, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012A, 6.000%, 2/15/43 (6), (7)
|
1/16 at 103.00
|
D
|
39,758
|
|||||
987
|
Massachusetts Development Finance Agency, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012B, 0.000%, 2/15/43 (6), (7)
|
1/16 at 17.71
|
D
|
29,126
|
|||||
1,526
|
Massachusetts Development Finance Agency, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2012C, 0.000%, 2/15/43 (6), (7)
|
1/16 at 103.00
|
D
|
45,063
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &2, 5.125%, 7/01/38
|
7/18 at 100.00
|
A–
|
529,150
|
|||||
2,300
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39
|
7/19 at 100.00
|
BBB
|
2,570,342
|
|||||
11,615
|
Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40
|
12/18 at 100.00
|
AA–
|
12,173,913
|
|||||
9,110
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Senior Series 2013A, 5.000%, 5/15/43
|
5/23 at 100.00
|
AA+
|
10,371,005
|
|||||
980
|
Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A, 0.000%, 1/01/29 – NPFG Insured
|
No Opt. Call
|
AA–
|
670,300
|
|||||
320
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2000-6, 5.500%, 8/01/30
|
1/16 at 100.00
|
Aaa
|
321,354
|
|||||
5,005
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A, 5.000%, 8/01/41 (Pre-refunded 8/01/16)
|
8/16 at 100.00
|
AA+ (4)
|
5,179,374
|
|||||
40,790
|
Total Massachusetts
|
39,840,136
|
32
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Michigan – 5.2%
|
|||||||||
Detroit Academy of Arts and Sciences, Michigan, Public School Academy Revenue Bonds, Refunding Series 2013:
|
|||||||||
$
|
2,065
|
6.000%, 10/01/33
|
10/23 at 100.00
|
N/R
|
$
|
1,695,510
|
|||
2,520
|
6.000%, 10/01/43
|
10/23 at 100.00
|
N/R
|
1,985,735
|
|||||
8,335
|
Detroit Local Development Finance Authority, Michigan, Tax Increment Bonds, Series 1998A, 5.500%, 5/01/21
|
11/15 at 100.00
|
B–
|
8,110,622
|
|||||
1,415
|
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
|
BBB+
|
1,533,931
|
|||||
3,700
|
Detroit, Michigan, Distributable State Aid General Obligation Bonds, Limited Tax Series 2010, 4.500%, 11/01/23
|
11/20 at 100.00
|
AA
|
3,987,194
|
|||||
273
|
Detroit, Michigan, General Obligation Bonds, Series 2001A-1, 5.375%, 4/01/16
|
1/16 at 100.00
|
A3
|
273,389
|
|||||
Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A:
|
|||||||||
11,160
|
5.000%, 7/01/35 – NPFG Insured
|
1/16 at 100.00
|
AA–
|
11,313,561
|
|||||
6,755
|
4.500%, 7/01/35 – NPFG Insured
|
1/16 at 100.00
|
AA–
|
6,775,333
|
|||||
3,000
|
Detroit, Michigan, Senior Lien Sewerage Disposal System Revenue Bonds, Series 2001B, 5.500%, 7/01/29 – FGIC Insured
|
No Opt. Call
|
AA–
|
3,618,180
|
|||||
3,395
|
Detroit, Michigan, Sewage Disposal System Revenue Bonds, Second Lien Series 2006A, 5.500%, 7/01/36 – BHAC Insured
|
7/18 at 100.00
|
AA+
|
3,679,195
|
|||||
7,525
|
Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series 2001C-2, 5.250%, 7/01/29 – FGIC Insured
|
7/18 at 100.00
|
AA+
|
8,147,242
|
|||||
1,775
|
Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2003B, 5.000%, 7/01/34 – NPFG Insured
|
1/16 at 100.00
|
AA–
|
1,780,929
|
|||||
2,955
|
Detroit, Michigan, Water Supply System Second Lien Revenue Refunding Bonds, Series 2006C, 5.000%, 7/01/33 – AGM Insured
|
No Opt. Call
|
AA
|
2,994,952
|
|||||
670
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2003A, 5.000%, 7/01/34 – NPFG Insured
|
1/16 at 100.00
|
A3
|
672,238
|
|||||
2,200
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2005B, 4.750%, 7/01/34 – BHAC Insured
|
No Opt. Call
|
AA+
|
2,304,896
|
|||||
Detroit, Michigan, Water Supply System Senior Lien Revenue Refunding Bonds, Series 2006D:
|
|||||||||
165
|
5.000%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
AA
|
167,219
|
|||||
5,250
|
4.625%, 7/01/32 – AGM Insured
|
7/16 at 100.00
|
AA
|
5,260,553
|
|||||
2,000
|
Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Series 2010, 5.250%, 5/15/36 – AGM Insured
|
5/20 at 100.00
|
A2
|
2,154,900
|
|||||
1,487
|
Michigan Finance Authority, Detroit, Michigan, Local Government Loan Program, Unlimited Tax General Obligation Bonds, Series 2014G-2A, 5.375%, 4/01/16
|
1/16 at 100.00
|
AA–
|
1,490,412
|
|||||
1,950
|
Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Series 2014C-1, 5.000%, 7/01/44
|
7/22 at 100.00
|
BBB+
|
2,060,721
|
|||||
4,600
|
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011, 5.000%, 12/01/39
|
12/21 at 100.00
|
AA
|
5,038,472
|
|||||
5,000
|
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2015, 5.000%, 12/01/35
|
6/22 at 100.00
|
AA
|
5,593,500
|
|||||
2,155
|
Michigan Municipal Bond Authority, Clean Water Revolving Fund Revenue Bonds, Series 2010, 5.000%, 10/01/29
|
10/20 at 100.00
|
AAA
|
2,474,112
|
|||||
5,000
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2011-II-A, 5.375%, 10/15/41
|
10/21 at 100.00
|
Aa2
|
5,569,850
|
|||||
10,000
|
Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Refunding Series 2015-I, 5.000%, 4/15/30
|
10/25 at 100.00
|
Aa2
|
11,570,700
|
|||||
2,890
|
Oakland University, Michigan, General Revenue Bonds, Series 2012, 5.000%, 3/01/42
|
No Opt. Call
|
A1
|
3,139,436
|
|||||
1,150
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)
|
9/18 at 100.00
|
Aaa
|
1,386,544
|
Nuveen Investments
|
33
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Michigan (continued)
|
|||||||||
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2005:
|
|||||||||
$
|
1,465
|
4.750%, 12/01/18 (Pre-refunded 12/01/15) – AGC Insured (Alternative Minimum Tax)
|
12/15 at 100.00
|
AA (4)
|
$
|
1,470,772
|
|||
2,560
|
5.000%, 12/01/34 (Pre-refunded 12/01/15) – NPFG Insured
|
12/15 at 100.00
|
N/R (4)
|
2,570,342
|
|||||
1,100
|
Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2015D, 5.000%, 12/01/45
|
12/25 at 100.00
|
A
|
1,195,282
|
|||||
104,515
|
Total Michigan
|
110,015,722
|
|||||||
Minnesota – 0.8%
|
|||||||||
1,750
|
Breckenridge, Minnesota, Revenue Bonds, Catholic Health Initiatives, Series 2004A, 5.000%, 5/01/30
|
1/16 at 100.00
|
A+
|
1,756,283
|
|||||
6,375
|
Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.625%, 11/15/28 (Pre-refunded 11/15/18)
|
11/18 at 100.00
|
A+ (4)
|
7,457,666
|
|||||
6,730
|
Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facility Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/36 (Pre-refunded 11/15/16)
|
11/16 at 100.00
|
Aaa
|
7,072,422
|
|||||
14,855
|
Total Minnesota
|
16,286,371
|
|||||||
Missouri – 1.2%
|
|||||||||
3,465
|
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, CoxHealth, Series 2013A, 5.000%, 11/15/48
|
11/23 at 100.00
|
A2
|
3,777,058
|
|||||
12,000
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Health Care System, Series 2010B, 5.000%, 6/01/30
|
6/20 at 100.00
|
AA–
|
13,226,280
|
|||||
2,600
|
Saint Louis, Missouri, Parking Revenue Bonds, Series 2006A, 4.500%, 12/15/25 – NPFG Insured
|
12/16 at 100.00
|
AA–
|
2,702,258
|
|||||
5,055
|
Springfield Public Utilities Board, Missouri, Certificates of Participation, Series 2012, 5.000%, 12/01/15
|
No Opt. Call
|
AA
|
5,076,433
|
|||||
23,120
|
Total Missouri
|
24,782,029
|
|||||||
Nebraska – 0.4%
|
|||||||||
1,400
|
Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska Methodist Health System, Refunding Series 2015, 5.000%, 11/01/45
|
11/25 at 100.00
|
A–
|
1,516,284
|
|||||
2,215
|
Nebraska Public Power District, General Revenue Bonds, Series 2006A, 5.000%, 1/01/19 (Pre-refunded 1/01/16) – NPFG Insured
|
1/16 at 100.00
|
AA– (4)
|
2,233,407
|
|||||
5,000
|
Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2008A, 5.500%, 2/01/39 (Pre-refunded 2/01/18)
|
2/18 at 100.00
|
AA (4)
|
5,534,000
|
|||||
8,615
|
Total Nebraska
|
9,283,691
|
|||||||
Nevada – 2.7%
|
|||||||||
2,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2007A-1, 5.000%, 7/01/26 – AMBAC Insured (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
2,110,720
|
|||||
5,075
|
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
A+
|
5,883,245
|
|||||
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015:
|
|||||||||
5,220
|
5.000%, 6/01/33
|
12/24 at 100.00
|
AA+
|
6,080,882
|
|||||
10,000
|
5.000%, 6/01/34
|
12/24 at 100.00
|
AA+
|
11,597,300
|
|||||
9,000
|
5.000%, 6/01/39
|
12/24 at 100.00
|
AA+
|
10,283,580
|
|||||
275
|
Nevada State, General Obligation Bonds, Municipal Bond Bank Projects R9A-R12, Refunding Series 2005F, 5.000%, 12/01/16 – AGM Insured
|
1/16 at 100.00
|
AA+
|
276,133
|
|||||
5,040
|
Nevada State, Unemployment Compensation Fund Special Revenue Bonds, Series 2013, 5.000%, 6/01/16
|
No Opt. Call
|
AAA
|
5,183,287
|
|||||
10,000
|
North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured
|
5/16 at 100.00
|
AA–
|
9,836,300
|
|||||
2,500
|
Reno, Nevada, Health Facility Revenue Bonds, Catholic Healthcare West, Trust 2634, 18.924%, 7/01/31 – BHAC Insured (IF) (5)
|
7/17 at 100.00
|
AA+
|
3,012,100
|
|||||
1,500
|
Sparks Tourism Improvement District 1, Legends at Sparks Marina, Nevada, Senior Sales Tax Revenue Bonds Series 2008A, 6.750%, 6/15/28
|
6/18 at 100.00
|
B1
|
1,606,290
|
|||||
50,610
|
Total Nevada
|
55,869,837
|
34
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
New Hampshire – 0.1%
|
|||||||||
$
|
1,500
|
New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39
|
10/19 at 100.00
|
Baa1
|
$
|
1,657,170
|
|||
New Jersey – 2.7%
|
|||||||||
930
|
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, 5.125%, 1/01/39 – AGM Insured (Alternative Minimum Tax)
|
1/24 at 100.00
|
AA
|
1,010,696
|
|||||
2,550
|
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series 2004A, 5.250%, 7/01/33 – NPFG Insured
|
1/16 at 100.00
|
AA–
|
2,582,972
|
|||||
3,300
|
New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37
|
7/18 at 100.00
|
BB+
|
3,416,292
|
|||||
4,740
|
New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Refunding Series 2006B, 0.000%, 7/01/34
|
1/17 at 41.49
|
A–
|
1,871,447
|
|||||
9,420
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital Appreciation Series 2010A, 0.000%, 12/15/31
|
No Opt. Call
|
A–
|
3,992,479
|
|||||
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:
|
|||||||||
30,000
|
0.000%, 12/15/30 – FGIC Insured
|
No Opt. Call
|
AA–
|
14,049,900
|
|||||
27,000
|
0.000%, 12/15/32 – AGM Insured
|
No Opt. Call
|
AA
|
11,760,120
|
|||||
5,820
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2011B, 5.000%, 6/15/42
|
No Opt. Call
|
A–
|
5,925,284
|
|||||
205
|
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C, 6.500%, 1/01/16 – NPFG Insured
|
No Opt. Call
|
AA–
|
207,173
|
|||||
New Jersey Turnpike Authority, Revenue Bonds, Series 1991C:
|
|||||||||
105
|
6.500%, 1/01/16 – NPFG Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
106,139
|
|||||
105
|
6.500%, 1/01/16 – NPFG Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
106,139
|
|||||
70
|
6.500%, 1/01/16 – NPFG Insured (ETM)
|
No Opt. Call
|
AA– (4)
|
70,760
|
|||||
1,135
|
Rutgers State University, New Jersey, Revenue Bonds, Refunding Series 2013L, 5.000%, 5/01/43
|
5/23 at 100.00
|
Aa3
|
1,265,502
|
|||||
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A:
|
|||||||||
4,335
|
4.625%, 6/01/26
|
6/17 at 100.00
|
B+
|
4,244,615
|
|||||
6,215
|
4.750%, 6/01/34
|
6/17 at 100.00
|
B–
|
5,039,495
|
|||||
95,930
|
Total New Jersey
|
55,649,013
|
|||||||
New Mexico – 0.1%
|
|||||||||
1,070
|
University of New Mexico, Revenue Bonds, Refunding Series 1992A, 6.000%, 6/01/21
|
No Opt. Call
|
AA
|
1,210,930
|
|||||
New York – 4.5%
|
|||||||||
10,000
|
Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds, Kaleida Health, Series 2006, 4.700%, 2/15/35 (Pre-refunded 8/15/16)
|
8/16 at 100.00
|
N/R (4)
|
10,351,100
|
|||||
9,490
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 2/15/47 – FGIC Insured
|
2/17 at 100.00
|
A
|
9,897,880
|
|||||
2,000
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 5.000%, 12/01/35 (Pre-refunded 6/01/16)
|
6/16 at 100.00
|
A– (4)
|
2,055,440
|
|||||
5,160
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%, 5/01/33 – BHAC Insured
|
5/19 at 100.00
|
AA+
|
5,907,478
|
|||||
12,855
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/38
|
5/21 at 100.00
|
A–
|
14,000,508
|
|||||
1,510
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn College of Aeronautics, Series 2006B, 5.000%, 12/01/31
|
12/16 at 100.00
|
BB
|
1,539,717
|
|||||
9,850
|
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006, 4.750%, 3/01/46 – NPFG Insured
|
9/16 at 100.00
|
AA–
|
10,111,123
|
|||||
3,525
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Series 2009EE-2, 5.250%, 6/15/40
|
No Opt. Call
|
AA+
|
3,975,248
|
|||||
1,680
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007B, 4.750%, 11/01/27
|
5/17 at 100.00
|
AAA
|
1,778,398
|
Nuveen Investments
|
35
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
New York (continued)
|
|||||||||
$
|
3,320
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 2007B, 4.750%, 11/01/27 (Pre-refunded 5/01/17)
|
5/17 at 100.00
|
N/R (4)
|
$
|
3,528,695
|
|||
10,000
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44
|
11/24 at 100.00
|
N/R
|
10,137,800
|
|||||
2,700
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.750%, 11/15/51
|
No Opt. Call
|
A+
|
3,112,290
|
|||||
3,250
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty Eighth Series 2007, 5.000%, 8/15/33 (Pre-refunded 8/15/17) – AGM Insured
|
8/17 at 100.00
|
AA (4)
|
3,506,718
|
|||||
9,925
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
12/20 at 100.00
|
BBB
|
11,530,368
|
|||||
3,000
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/50
|
5/25 at 100.00
|
AA–
|
3,350,700
|
|||||
88,265
|
Total New York
|
94,783,463
|
|||||||
North Carolina – 0.4%
|
|||||||||
3,000
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Series 2008A, 5.000%, 1/15/47
|
1/18 at 100.00
|
AA–
|
3,136,140
|
|||||
1,500
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Series 2011A, 5.125%, 1/15/37
|
1/21 at 100.00
|
AA–
|
1,668,630
|
|||||
2,010
|
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University Health System, Series 2010A, 5.000%, 6/01/42
|
6/20 at 100.00
|
AA
|
2,198,116
|
|||||
1,255
|
North Carolina Medical Care Commission, Health System Revenue Bonds, Mission Health Combined Group, Series 2007, 4.500%, 10/01/31
|
10/17 at 100.00
|
AA–
|
1,278,770
|
|||||
745
|
North Carolina Medical Care Commission, Health System Revenue Bonds, Mission Health Combined Group, Series 2007, 4.500%, 10/01/31 (Pre-refunded 10/01/17)
|
10/17 at 100.00
|
N/R (4)
|
801,106
|
|||||
8,510
|
Total North Carolina
|
9,082,762
|
|||||||
North Dakota – 0.5%
|
|||||||||
7,820
|
Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31
|
11/21 at 100.00
|
A+
|
9,469,473
|
|||||
Ohio – 4.0%
|
|||||||||
9,405
|
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series 2008A, 5.250%, 2/15/43 (Pre-refunded 2/15/18)
|
2/18 at 100.00
|
N/R (4)
|
10,373,808
|
|||||
595
|
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series 2008A, 5.250%, 2/15/43
|
2/18 at 100.00
|
A1
|
640,922
|
|||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:
|
|||||||||
6,615
|
5.375%, 6/01/24
|
6/17 at 100.00
|
B–
|
6,013,035
|
|||||
6,075
|
5.125%, 6/01/24
|
6/17 at 100.00
|
B–
|
5,456,444
|
|||||
12,205
|
5.875%, 6/01/30
|
6/17 at 100.00
|
B–
|
10,913,466
|
|||||
17,165
|
5.750%, 6/01/34
|
6/17 at 100.00
|
B–
|
15,047,181
|
|||||
4,020
|
6.000%, 6/01/42
|
6/17 at 100.00
|
B
|
3,520,193
|
|||||
11,940
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B
|
10,320,577
|
|||||
16,415
|
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
|
B–
|
15,022,680
|
|||||
1,730
|
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41
|
11/21 at 100.00
|
AA
|
2,067,558
|
|||||
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+
|
5,405,984
|
|||||
91,140
|
Total Ohio
|
84,781,848
|
36
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Oklahoma – 0.3%
|
|||||||||
$
|
1,400
|
Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26
|
8/21 at 100.00
|
N/R
|
$
|
1,649,718
|
|||
2,000
|
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2007, 5.125%, 9/01/37
|
9/17 at 100.00
|
BBB–
|
2,073,120
|
|||||
Oklahoma Development Finance Authority, Health System Revenue Bonds, Integris Baptist Medical Center, Refunding Series 2015A:
|
|||||||||
1,590
|
5.000%, 8/15/27
|
8/25 at 100.00
|
AA–
|
1,911,689
|
|||||
1,250
|
5.000%, 8/15/29
|
8/25 at 100.00
|
AA–
|
1,480,350
|
|||||
6,240
|
Total Oklahoma
|
7,114,877
|
|||||||
Oregon – 0.1%
|
|||||||||
2,860
|
Oregon State Facilities Authority, Revenue Bonds, Willamette University, Series 2007A, 5.000%, 10/01/32
|
10/17 at 100.00
|
A
|
3,039,408
|
|||||
Pennsylvania – 0.6%
|
|||||||||
1,250
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue Bonds, Series 2014A, 0.000%, 12/01/37
|
No Opt. Call
|
AA–
|
989,138
|
|||||
2,715
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue, Series 2011B, 5.000%, 12/01/41
|
12/21 at 100.00
|
AA–
|
2,964,400
|
|||||
7,500
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Turnpike Subordinate Special Revenue, Series 2013A, 5.000%, 12/01/43
|
12/22 at 100.00
|
AA–
|
8,200,425
|
|||||
11,465
|
Total Pennsylvania
|
12,153,963
|
|||||||
Puerto Rico – 0.3%
|
|||||||||
76,485
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/54 – AMBAC Insured
|
No Opt. Call
|
Caa3
|
5,130,614
|
|||||
21,000
|
Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 0.000%, 5/15/50
|
1/16 at 11.66
|
BB–
|
1,808,100
|
|||||
97,485
|
Total Puerto Rico
|
6,938,714
|
|||||||
Rhode Island – 0.3%
|
|||||||||
6,250
|
Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Series 1996, 5.250%, 5/15/26 – NPFG Insured
|
11/15 at 100.00
|
AA–
|
6,267,313
|
|||||
South Carolina – 1.3%
|
|||||||||
Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2:
|
|||||||||
12,560
|
0.000%, 1/01/28 – AMBAC Insured
|
No Opt. Call
|
AA
|
8,229,061
|
|||||
9,535
|
0.000%, 1/01/29 – AMBAC Insured
|
No Opt. Call
|
AA
|
5,902,546
|
|||||
8,000
|
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A, 5.000%, 12/01/55
|
6/25 at 100.00
|
AA–
|
8,664,640
|
|||||
3,455
|
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A, 5.500%, 12/01/54
|
6/24 at 100.00
|
AA–
|
3,873,677
|
|||||
33,550
|
Total South Carolina
|
26,669,924
|
|||||||
Tennessee – 0.7%
|
|||||||||
2,780
|
Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Refunding Series 2008, 5.625%, 4/01/38
|
4/18 at 100.00
|
A+
|
2,999,676
|
|||||
7,520
|
Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Refunding Series 2008, 5.625%, 4/01/38 (Pre-refunded 4/01/18)
|
4/18 at 100.00
|
N/R (4)
|
8,394,426
|
|||||
3,000
|
Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.250%, 9/01/36
|
9/16 at 100.00
|
BBB+
|
3,088,980
|
|||||
13,300
|
Total Tennessee
|
14,483,082
|
Nuveen Investments
|
37
|
NUV
|
Nuveen Municipal Value Fund, Inc.
|
|
Portfolio of Investments (continued)
|
October 31, 2015
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Texas – 13.3%
|
|||||||||
$
|
2,000
|
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Second Tier Series 2006B, 5.750%, 1/01/34
|
1/17 at 100.00
|
BB
|
$
|
2,057,520
|
|||
5,560
|
Beaumont Independent School District, Jefferson County, Texas, General Obligation Bonds, Series 2008, 5.000%, 2/15/38
|
2/17 at 100.00
|
AAA
|
5,826,769
|
|||||
5,110
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax) (6)
|
1/16 at 100.00
|
C
|
293,825
|
|||||
2,420
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Refunding Series 2013A, 5.000%, 1/01/43
|
1/23 at 100.00
|
BBB+
|
2,584,197
|
|||||
7,500
|
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Improvement Series 2012D, 5.000%, 11/01/38 (Alternative Minimum Tax)
|
No Opt. Call
|
A+
|
8,049,750
|
|||||
240
|
Decatur Hospital Authority, Texas, Revenue Bonds, Wise Regional Health System, Series 2014A, 5.250%, 9/01/44
|
9/24 at 100.00
|
BB+
|
252,989
|
|||||
5,000
|
El Paso County Hospital District, Texas, General Obligation Bonds, Certificates of Obligation, Series 2013, 5.000%, 8/15/39
|
8/23 at 100.00
|
AA–
|
5,406,350
|
|||||
6,005
|
Friendswood Independent School District, Galveston County, Texas, General Obligation Bonds, Schoolhouse Series 2008, 5.000%, 2/15/37
|
No Opt. Call
|
AAA
|
6,464,443
|
|||||
27,340
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 4/01/53
|
10/23 at 100.00
|
AA+
|
29,836,141
|
|||||
2,845
|
Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 4.000%, 12/01/45
|
6/25 at 100.00
|
AA
|
2,839,964
|
|||||
5,000
|
Harris County Hospital District, Texas, Revenue Bonds, Series 2007A, 5.250%, 2/15/42 – NPFG Insured
|
2/17 at 100.00
|
AA+
|
5,248,600
|
|||||
7,295
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding Senior Lien Series 2014A, 0.000%, 11/15/50 – AGM Insured
|
11/31 at 39.79
|
AA
|
1,385,977
|
|||||
11,900
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/27 – NPFG Insured
|
No Opt. Call
|
AA–
|
7,108,465
|
|||||
1,845
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C, 5.000%, 11/15/32
|
11/24 at 100.00
|
A3
|
2,054,869
|
|||||
14,905
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/33 – NPFG Insured
|
11/24 at 59.10
|
AA–
|
5,802,815
|
|||||
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:
|
|||||||||
24,755
|
0.000%, 9/01/29 – AMBAC Insured
|
No Opt. Call
|
A2
|
14,224,223
|
|||||
12,940
|
0.000%, 9/01/30 – AMBAC Insured
|
No Opt. Call
|
A2
|
7,071,063
|
|||||
10,000
|
0.000%, 9/01/31 – AMBAC Insured
|
No Opt. Call
|
A2
|
5,189,700
|
|||||
5,000
|
Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015, 5.375%, 8/15/35
|
2/16 at 100.00
|
BBB+
|
5,025,700
|
|||||
5,120
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Refunding Series 2015A, 5.000%, 8/15/39
|
8/25 at 100.00
|
AAA
|
5,898,547
|
|||||
3,750
|
Lewisville Independent School District, Denton County, Texas, General Obligation Bonds, Refunding Series 1996, 0.000%, 8/15/16
|
No Opt. Call
|
Aaa
|
3,742,538
|
|||||
2,000
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%, 11/01/28 (Alternative Minimum Tax)
|
11/22 at 100.00
|
Baa1
|
2,190,740
|
|||||
1,750
|
Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series 2011A, 7.250%, 4/01/36
|
4/21 at 100.00
|
BBB
|
1,932,630
|
|||||
5,420
|
North Texas Municipal Water District, Water System Revenue Bonds, Refunding & Improvement Series 2012, 5.000%, 9/01/26
|
3/22 at 100.00
|
AAA
|
6,345,519
|
|||||
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I:
|
|||||||||
30,000
|
6.200%, 1/01/42 – AGC Insured
|
1/25 at 100.00
|
AA
|
37,139,400
|
|||||
5,220
|
6.500%, 1/01/43
|
1/25 at 100.00
|
A1
|
6,503,963
|
38
|
Nuveen Investments
|
Principal
|
Optional Call
|
||||||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|||||
Texas (continued)
|
|||||||||
$
|
6,320
|
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008A, 5.750%, 1/01/40 – BHAC Insured
|
1/18 at 100.00
|
AA+
|
$
|
6,918,125
|
|||
15,450
|
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008D, 0.000%, 1/01/36 – AGC Insured
|
No Opt. Call
|
AA
|
6,821,021
|
|||||
9,020
|
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B, 5.000%, 1/01/40
|
1/23 at 100.00
|
A1
|
9,852,997
|
|||||
9,100
|
North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A, 5.000%, 1/01/32
|
1/25 at 100.00
|
A2
|
10,276,630
|
|||||
2,000
|
Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2003A, 5.800%, 7/01/22 (6)
|
1/16 at 100.00
|
C
|
115,000
|
|||||
11,585
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds, Texas Health Resources Trust 1201, 9.301%, 2/15/30 (IF)
|
2/17 at 100.00
|
AA
|
12,448,083
|
|||||
4,455
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010, 5.500%, 8/15/45
|
8/20 at 100.00
|
AA–
|
5,133,096
|
|||||
355
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010, 5.500%, 8/15/45 (Pre-refunded 8/15/20)
|
8/20 at 100.00
|
N/R (4)
|
423,089
|
|||||
3,970
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 – AGC Insured
|
1/19 at 100.00
|
AA
|
4,485,782
|
|||||
1,030
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 (Pre-refunded 1/01/19) – AGC Insured
|
1/19 at 100.00
|
AA (4)
|
1,205,399
|
|||||
6,435
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources, Refunding Series 2007A, 5.000%, 2/15/20
|
No Opt. Call
|
AA
|
6,807,200
|
|||||
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012:
|
|||||||||
2,500
|
5.000%, 12/15/26
|
No Opt. Call
|
A3
|
2,815,100
|
|||||
10,400
|
5.000%, 12/15/32
|
No Opt. Call
|
A3
|
11,403,287
|
|||||
Texas State University System, Financing Revenue Bonds, Refunding Series 2006:
|
|||||||||
1,990
|
5.000%, 3/15/27 (Pre-refunded 3/15/16) – AGM Insured
|
3/16 at 100.00
|
AA (4)
|
2,026,019
|
|||||
260
|
5.000%, 3/15/27 (Pre-refunded 3/15/16) – AGM Insured
|
3/16 at 100.00
|
AA (4)
|
264,719
|
|||||
7,180
|
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–
|
7,812,055
|
|||||
3,000
|
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier Refunding Series 2015B, 5.000%, 8/15/37
|
8/24 at 100.00
|
A–
|
3,306,840
|
|||||
1,750
|
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier Refunding Series 2015C, 5.000%, 8/15/33
|
8/24 at 100.00
|
BBB+
|
1,935,920
|
|||||
5,500
|
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 – AMBAC Insured
|
No Opt. Call
|
A–
|
4,061,365
|
|||||
313,220
|
Total Texas
|
278,588,424
|
|||||||
Virginia – 2.5%
|
|||||||||
1,500
|
Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/42
|
10/17 at 100.00
|
BBB
|
1,555,575
|
|||||
10,000
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Second Senior Lien Series 2010B, 0.000%, 10/01/44
|
10/28 at 100.00
|
BBB+
|
10,732,600
|
|||||
14,110
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Project, Refunding Second Senior Lien Series 2014A, 5.000%, 10/01/53
|