1
Nuveen
Dynamic
Municipal
Opportiunities
Fund
Portfolio
of
Investments
July
31,
2024
(Unaudited)
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
LONG-TERM
INVESTMENTS
-
134.9% 
(100.0%
of
Total
Investments)
X
–
MUNICIPAL
BONDS
-
133
.0
%
(
98
.6
%
of
Total
Investments)
X
888,834,907
ALABAMA
-
6.0%
(4.4%
of
Total
Investments)
$
5,000
Black
Belt
Energy
Gas
District,
Alabama,
Gas
Project
Revenue
Bonds,
Series
2023A,
5.250%,
1/01/54,
(Mandatory
Put
10/01/30)
7/30
at
100.25
$
5,375,285
2,360
Hoover
Industrial
Development
Board,
Alabama,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Proejcet,
Green
Series
2020,
6.375%,
11/01/50,
(AMT),
(Mandatory
Put
11/01/30)
No
Opt.
Call
2,643,535
Jefferson
County,
Alabama,
Sewer
Revenue
Warrants,
Series
2024
:
475
5.250%,
10/01/40
10/33
at
100.00
527,793
585
5.250%,
10/01/41
10/33
at
100.00
647,127
705
5.250%,
10/01/42
10/33
at
100.00
775,566
705
5.250%,
10/01/43
10/33
at
100.00
773,739
705
5.250%,
10/01/44
10/33
at
100.00
771,093
565
5.250%,
10/01/45
10/33
at
100.00
616,368
870
5.250%,
10/01/49
10/33
at
100.00
940,219
1,000
Mobile
County
Industrial
Development
Authority,
Alabama,
Solid
Waste
Disposal
Revenue
Bonds,
AM/NS
Calvert
LLC
Project,
Series
2024A,
5.000%,
6/01/54,
(AMT)
6/34
at
100.00
1,024,767
4,685
(c)
Mobile
County,
Alabama,
Limited
Obligation
Warrants,
Gomesa
Projects,
Series
2020,
4.000%,
11/01/45
11/29
at
100.00
4,372,467
20,000
Southeast
Energy
Authority,
Alabama,
Commodity
Supply
Revenue
Bonds,
Project
4,
Series
2022B-1,
5.000%,
5/01/53,
(Mandatory
Put
8/01/28)
5/28
at
100.34
20,900,892
500
UAB
Medicine
Finance
Authority,
Alabama,
Revenue
Bonds,
Series
2017B-
2,
5.000%,
9/01/41
3/27
at
100.00
510,556
TOTAL
ALABAMA
39,879,407
ARIZONA
-
5.8%
(4.3%
of
Total
Investments)
7,650
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Heritage
Academy
-
Gateway
and
Laveen
Pojects,
Taxable
Series
2021A,
5.000%,
7/01/51
7/28
at
103.00
7,095,403
1,500
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Social
Bonds
?
Pensar
Academy
Project,
Series
2020,
5.000%,
7/01/55
7/28
at
100.00
1,395,345
4,500
(c)
Arizona
Industrial
Development
Authority,
Arizona,
Hotel
Revenue
Bonds,
Provident
Group
?
Falcon
Properties
LLC,
Project,
Senior
Series
2022A-1,
4.000%,
12/01/51
12/31
at
100.00
3,397,950
Arizona
Industrial
Development
Authority,
Senior
National
Charter
School
Revolving
Loan
Fund
Revenue
Bonds,
Social
Series
2023A
:
730
5.250%,
11/01/48
11/32
at
100.00
781,765
730
5.250%,
11/01/53
11/32
at
100.00
776,327
1,200
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2007,
4.100%,
12/01/37,
(AMT),
(Mandatory
Put
6/15/28)
2/28
at
100.00
1,216,486
2,695
Chandler
Industrial
Development
Authority,
Arizona,
Industrial
Development
Revenue
Bonds,
Intel
Corporation
Project,
Series
2019,
4.000%,
6/01/49,
(AMT),
(Mandatory
Put
6/01/29)
2/29
at
100.00
2,735,039
1,090
(c)
Coconino
County
Industrial
Development
Authority,
Arizona,
Education
Revenue
Bonds,
Flagstaff
Arts
&
Leadership
Academy
Project,
Refunding
Series
2020,
5.500%,
7/01/40
7/28
at
100.00
1,013,438
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
2
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
ARIZONA
(continued)
$
1,000
(c)
Maricopa
County
Industrial
Development
Authority,
Arizona,
Educational
Facilities
Revenue
Bonds,
Ottawa
University
Projects,
Series
2020,
5.250%,
10/01/40
10/27
at
103.00
$
964,041
3,405
(c)
Phoenix
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Northwest
Christian
School
Project,
Series
2020A,
5.000%,
9/01/55
9/30
at
100.00
3,023,511
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Edkey
Charter
Schools
Project,
Refunding
Series
2020
:
5,265
(c)
5.000%,
7/01/35
7/26
at
103.00
5,336,543
6,800
(c)
5.000%,
7/01/40
7/26
at
103.00
6,725,979
4,580
(c)
Pima
County
Industrial
Development
Authority,
Arizona,
Education
Facility
Revenue
Bonds,
Synergy
Public
Charter
School
Project,
Series
2020-1,
5.000%,
6/15/50
6/28
at
100.00
4,235,938
TOTAL
ARIZONA
38,697,765
ARKANSAS
-
1.7%
(1.2%
of
Total
Investments)
4,500
(c)
Arkansas
Development
Finance
Authority,
Arkansas,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation,
Green
Series
2022,
5.450%,
9/01/52,
(AMT)
9/25
at
105.00
4,654,912
6,500
(c)
Arkansas
Development
Finance
Authority,
Industrial
Development
Revenue
Bonds,
Big
River
Steel
Project,
Series
2019,
4.500%,
9/01/49,
(AMT)
9/26
at
103.00
6,426,901
TOTAL
ARKANSAS
11,081,813
CALIFORNIA
-
7.7%
(5.7%
of
Total
Investments)
1,960
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023C,
5.250%,
1/01/54,
(Mandatory
Put
10/01/31)
10/30
at
100.65
2,101,833
6,770
California
Community
Choice
Financing
Authority,
Clean
Energy
Project
Revenue
Bonds,
Green
Series
2023G,
5.250%,
11/01/54,
(Mandatory
Put
4/01/30)
1/30
at
100.19
7,285,299
3,815
(c)
California
Community
Housing
Agency,
California,
Essential
Housing
Revenue
Bonds,
Creekwood,
Series
2021A,
4.000%,
2/01/56
8/31
at
100.00
2,639,236
6,290
(c)
California
Pollution
Control
Financing
Authority,
Water
Furnishing
Revenue
Bonds,
Poseidon
Resources
Channelside
LP
Desalination
Project,
Series
2012,
5.000%,
7/01/30,
(AMT)
1/25
at
100.00
6,336,209
5,000
(c)
California
Public
Finance
Authority,
Charter
School
Lease
Revenue
Bonds,
California
Crosspoint
Academy
Project,
Series
2020A,
5.125%,
7/01/55
7/28
at
100.00
4,387,806
465
(c)
California
Public
Finance
Authority,
Senior
Living
Revenue
Bonds,
Enso
Village,
Refunding
Green
Series
2021A,
5.000%,
11/15/46
11/29
at
102.00
437,008
2,000
(c)
California
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Scholarship
Prep
Public
Schools
?
Obligated
Group,
Series
2020A,
5.000%,
6/01/60
6/28
at
100.00
1,818,030
10,270
California
State,
General
Obligation
Bonds,
Taxable
Various
Purpose
Series
2018,
4.600%,
4/01/38
4/28
at
100.00
9,983,907
1,220
(c)
California
Statewide
Communities
Development
Authority,
California,
Revenue
Bonds,
Loma
Linda
University
Medical
Center,
Series
2016A,
5.000%,
12/01/41
6/26
at
100.00
1,236,926
6,180
(c)
CSCDA
Community
Improvement
Authority,
California,
Essential
Housing
Revenue
Bonds,
Center
City
Anaheim,
Series
2020A,
5.000%,
1/01/54
1/31
at
100.00
5,525,718
985
(d)
Northstar
Community
Services
District,
California,
Special
Tax
Bonds,
Community
Facilities
District
1,
Series
2006,
1.750%,
9/01/37
3/25
at
100.00
256,212
3
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
CALIFORNIA
(continued)
$
1,070
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Refunding
Series
2022A-1,
5.000%,
9/01/42
-
AGM
Insured
9/29
at
103.00
$
1,166,582
1,070
River
Islands
Public
Financing
Authority,
California,
Special
Tax
Bonds,
Community
Facilities
District
2003-1
Improvement
Area
1,
Subordinate
Series
2022B-2,
5.000%,
9/01/42
9/29
at
103.00
1,106,771
San
Francisco
Airport
Commission,
California,
Revenue
Bonds,
San
Francisco
International
Airport,
Refunding
Second
Series
2024A
:
1,790
5.000%,
5/01/37,
(AMT)
5/34
at
100.00
1,975,567
2,190
5.000%,
5/01/38,
(AMT)
5/34
at
100.00
2,410,946
1,870
5.000%,
5/01/39,
(AMT)
5/34
at
100.00
2,045,116
750
San
Francisco
Community
College
District,
California,
General
Obligation
Bonds,
Taxable
Election
2020
Series
2020A-1,
3.165%,
6/15/41
6/30
at
100.00
590,104
TOTAL
CALIFORNIA
51,303,270
COLORADO
-
17.4%
(12.9%
of
Total
Investments)
2,370
64th
Avenue
ARI
Authority,
Adams
County,
Colorado,
Special
Revenue
Bonds,
Series
2020,
6.500%,
12/01/43
12/25
at
103.00
2,375,387
1,060
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
9/25
at
103.00
996,027
2,285
Aurora
Crossroads
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Subordinate
Series
2020B,
7.750%,
12/15/50
9/25
at
103.00
2,213,188
5,220
Aurora
Highlands
Community
Authority
Board,
Adams
County,
Colorado,
Special
Tax
Revenue
Bonds,
Refunding
&
Improvement
Series
2021A,
5.750%,
12/01/51
12/28
at
103.00
4,917,036
499
Aviation
Station
North
Metropolitan
District
2,
Denver
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2019A,
4.000%,
12/01/29
9/24
at
103.00
476,742
1,725
Belford
North
Metropolitan
District,
Douglas
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020A,
5.500%,
12/01/50
12/25
at
103.00
1,617,230
1,000
Bennett
Ranch
Metropolitan
District
1,
Adams
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A,
5.000%,
12/01/51
3/26
at
103.00
905,756
500
(c)
Broadway
Park
North
Metropolitan
District
2,
Denver,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Refunding
&
Improvement
Series
2020,
5.000%,
12/01/40
12/25
at
103.00
488,720
1,000
Broadway
Station
Metropolitan
District
2,
Denver
City
and
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Convertible
to
Unlimited
Series
2019A,
5.125%,
12/01/48
9/24
at
103.00
832,786
1,500
Canyons
Metropolitan
District
5,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
and
Special
Revenue
Bonds,
Junior
Subordinate
Series
2016,
7.000%,
12/15/57
9/24
at
100.00
1,073,901
1,450
Citadel
on
Colfax
Business
Improvement
District,
Aurora,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Senior
Series
2020A,
5.350%,
12/01/50
12/25
at
103.00
1,359,917
Colorado
Bridge
and
Tunnel
Enterprise,
Colorado,
Senior
Infrastructure
Revenue
Bonds,
Series
2024A
:
525
5.250%,
12/01/49
-
AGM
Insured
12/34
at
100.00
584,294
655
5.500%,
12/01/54
-
AGM
Insured
12/34
at
100.00
741,232
Colorado
Educational
and
Cultural
Facilities
Authority,
Charter
School
Revenue
Bonds,
New
Summit
Charter
Academy
Project,
Series
2021A
:
100
(c)
4.000%,
7/01/41
7/31
at
100.00
86,399
100
(c)
4.000%,
7/01/51
7/31
at
100.00
78,819
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
4
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
COLORADO
(continued)
$
1,000
(c)
Colorado
Educational
and
Cultural
Facilities
Authority,
Revenue
Bonds,
Global
Village
Academy
-
Northglenn
Project,
Series
2020,
5.000%,
12/01/50
12/30
at
100.00
$
903,811
500
(c),(d)
Colorado
Health
Facilities
Authority,
Colorado,
Revenue
Bonds,
Cappella
of
Grand
Junction
Project,
Series
2019,
5.000%,
12/01/54
12/26
at
103.00
345,011
16,000
Colorado
International
Center
Metropolitan
District
8,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020,
6.500%,
12/01/50
9/25
at
103.00
15,330,589
2,280
Dawson
Trails
Metropolitan
District
1,
Colorado,
In
The
Town
of
Castle
Rock,
Limited
Tax
General
Obligation
Capital
Appreciation
Turbo
Bonds,
Series
2024,
0.000%,
12/01/31
6/26
at
66.03
1,263,967
Denver
City
and
County,
Colorado,
Airport
System
Revenue
Bonds,
Series
2022A
:
1,000
5.000%,
11/15/31,
(AMT)
No
Opt.
Call
1,090,981
1,355
5.500%,
11/15/38,
(AMT)
11/32
at
100.00
1,532,546
4,000
(c)
Falcon
Area
Water
and
Wastewater
Authority
(El
Paso
County,
Colorado),
Tap
Fee
Revenue
Bonds,
Series
2022A,
6.750%,
12/01/34
9/27
at
103.00
3,957,891
1,000
Foothills
Metropolitan
District,
Fort
Collins,
Colorado,
Special
Revenue
Bonds,
Series
2014,
6.000%,
12/01/38
12/24
at
100.00
977,444
Fourth
North
Business
Improvement
District,
Silverthorne,
Summit
County,
Colorado,
Special
Revenue
and
Tax
Supported
Bonds,
Refunding
&
Improvement
Senior
Series
2022A
:
1,425
5.250%,
12/01/32
12/30
at
102.00
1,438,088
1,200
5.750%,
12/01/52
12/30
at
102.00
1,213,907
2,000
(c)
Future
Legends
Sports
Park
Metropolitan
District
2,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.500%,
6/01/50
6/25
at
103.00
1,786,760
1,360
(c)
Hogback
Metropolitan
District,
Jefferson
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
to
Unlimited
Tax
Series
2021A,
5.000%,
12/01/51
12/26
at
103.00
1,216,274
5,250
Jefferson
Center
Metropolitan
District
1,
Arvada,
Jefferson
County,
Colorado,
Special
Revenue
Bonds,
Subordinate
Series
2020B,
5.750%,
12/15/50
9/24
at
103.00
5,318,929
2,000
Jones
District
Community
Authority
Board,
Centennial,
Colorado,
Special
Revenue
Convertible
Capital
Appreciaiton
Bonds,
Series
2020A,
5.750%,
12/01/50
12/25
at
103.00
1,861,866
1,000
Kinston
Metropolitan
District
5,
Loveland,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.125%,
12/01/50
12/25
at
103.00
1,002,312
Kremmling
Memorial
Hospital
District,
Colorado,
Certificates
of
Participation,
Series
2024
:
1,500
(c)
6.125%,
12/01/44
12/31
at
103.00
1,457,172
1,200
(c)
6.625%,
12/01/56
12/31
at
103.00
1,166,985
1,380
Lanterns
Metropolitan
District
1,
Castle
Rock,
Douglas
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2019A,
5.000%,
12/01/39
9/24
at
103.00
1,382,260
1,030
Lanterns
Metropolitan
District
3,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Convertible
Capital
Appreciation
Series
2023A-2,
8.000%,
12/01/53
12/28
at
103.00
788,959
560
Lanterns
Metropolitan
District
3,
Douglas
County,
Colorado,
General
Obligation
Bonds,
Limited
Tax
Series
2023A-1,
7.250%,
12/01/53
12/28
at
103.00
595,414
3,000
(c)
Ledge
Rock
Center
Commercial
Metropolitan
District
(In
the
Town
of
Johnstown,
Weld
County,
Colorado),
Limited
Tax
General
Obligation
Bonds,
Series
2022,
7.375%,
11/01/52
11/29
at
103.00
3,063,255
Mayberry
Community
Authority,
Colorado
Springs,
El
Paso
County,
Colorado,
Special
Revenue
Bonds,
Series
2021A
:
5
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
COLORADO
(continued)
$
500
5.000%,
12/01/41
6/26
at
103.00
$
476,469
500
5.000%,
4/15/51
6/26
at
103.00
451,590
480
Mountain
Sky
Metropolitan
District,
Fort
Lupton,
Weld
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/49
3/25
at
103.00
455,160
North
Range
Metropolitan
District
3,
Adams
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-3
:
2,000
5.000%,
12/01/40
12/25
at
103.00
2,014,877
1,000
5.250%,
12/01/50
12/25
at
103.00
1,009,055
1,810
Northfield
Metropolitan
District
2,
Fort
Collins,
Larimer
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A,
5.000%,
12/01/50
12/25
at
103.00
1,660,513
Painted
Prairie
Public
Improvement
Authority,
Aurora,
Colorado,
Special
Revenue
Bonds,
Series
2019
:
500
4.000%,
12/01/29
12/24
at
103.00
472,537
1,250
5.000%,
12/01/39
12/24
at
103.00
1,214,640
285
(c)
Peak
Metropolitan
District
1,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
5.000%,
12/01/51
3/26
at
103.00
248,542
1,100
Peak
Metropolitan
District
3,
Colorado
Springs,
El
Paso
County,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2022A-1,
7.500%,
12/01/52
12/27
at
103.00
1,120,131
925
Pinon
Pines
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020,
5.000%,
12/01/40
9/25
at
103.00
915,160
7,034
Pioneer
Community
Authority
Board
(Weld
County,
Colorado),
Special
Revenue
Bonds,
Series
2022,
6.500%,
12/01/34
6/29
at
103.00
6,817,339
3,665
Rampart
Range
Metropolitan
District
1,
Lone
Tree,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Refunding
&
Improvement
Series
2017,
5.000%,
12/01/42
12/27
at
100.00
3,772,951
2,000
Rampart
Range
Metropolitan
District
5,
Lone
Tree,
Douglas
County,
Colorado,
Limited
Tax
Supported
and
Special
Revenue
Bonds,
Series
2021,
4.000%,
12/01/41
10/26
at
102.00
1,797,443
2,320
Silverstone
Metropolitan
District
3,
Weld
County,
Colorado,
General
Obligation
and
Special
Revenue
Bonds,
Limited
Tax
Series
2023,
7.750%,
12/01/45
12/28
at
103.00
2,386,656
1,215
SouthGlenn
Metropolitan
District,
Colorado,
Special
Revenue
Bonds,
Refunding
Series
2016,
5.000%,
12/01/30
9/24
at
101.00
1,214,928
708
Sterling
Ranch
Community
Authority
Board,
Douglas
County,
Colorado,
Limited
Tax
Supported
District
2,
Subordinate
Series
2020B,
7.125%,
12/15/50
12/25
at
102.00
711,553
Sterling
Ranch
Metropolitan
District
1,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Series
2020
:
2,350
5.000%,
12/01/40
12/25
at
103.00
2,296,984
2,300
5.125%,
12/01/50
12/25
at
103.00
2,164,435
1,000
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Convertible
Capital
Appreciation
Series
2021A-2,
5.500%,
12/01/51
3/26
at
103.00
794,709
1,270
Transport
Metropolitan
District
3,
In
the
City
of
Aurora,
Adams
County,
Colorado,
General
Obligation
Limited
Bonds,
Series
2021A-1,
5.000%,
12/01/41
3/26
at
103.00
1,128,985
5,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Convertible
Capital
Appreciation
Series
2020A-2,
6.000%,
12/01/50
8/24
at
84.86
3,673,059
10,000
Velocity
Metropolitan
District
5,
In
the
City
of
Aurora,
Colorado,
Limited
Tax
General
Obligation
Bonds,
Series
2020A-1,
5.375%,
12/01/50
8/24
at
103.00
9,673,791
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
6
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
COLORADO
(continued)
$
1,500
Verve
Metropolitan
District
1,
Jefferson
County
and
the
City
and
County
of
Broomfield,
Colorado,
General
Obligation
Bonds,
Refunding
and
Improvement
Limited
Tax
Series
2021,
5.000%,
12/01/51
3/26
at
103.00
$
1,181,672
2,000
(c)
Windler
Public
Improvement
Authority,
Aurora,
Colorado,
Limited
Tax
Supported
Revenue
Bonds,
Series
2021A-1,
4.125%,
12/01/51
9/26
at
103.00
1,531,470
961
Woodmen
Heights
Metropolitan
District
2,
El
Paso
County,
Colorado,
General
Obligation
Limited
Tax
Bonds,
Taxable
Converting
to
Tax-Exempt
Refunding
Subordinate
Series
2020B-1,
6.250%,
12/15/40
12/25
at
103.00
948,527
TOTAL
COLORADO
116,575,031
CONNECTICUT
-
0.6%
(0.4%
of
Total
Investments)
Connecticut
Health
and
Educational
Facilities
Authority,
Revenue
Bonds,
Nuvance
Health
Series
2019A
:
1,325
4.000%,
7/01/34
7/29
at
100.00
1,326,577
1,250
4.000%,
7/01/36
7/29
at
100.00
1,245,628
1,255
Connecticut
Housing
Finance
Authority,
Housing
Mortgage
Finance
Program
Bonds,
Series
2016B-1,
2.950%,
11/15/31
11/25
at
100.00
1,145,941
TOTAL
CONNECTICUT
3,718,146
DELAWARE
-
0.4%
(0.3%
of
Total
Investments)
400
(c)
Bridgeville,
Delaware,
Special
Obligation
Bonds,
Heritage
Shores
Special
Development
District,
Series
2024,
5.625%,
7/01/53
7/33
at
100.00
422,323
Delaware
State
Housing
Authority,
Senior
Single
Family
Mortgage
Revenue
Bonds,
Series
2024B
:
500
(e)
4.600%,
7/01/44,
(UB)
7/33
at
100.00
504,632
500
(e)
4.650%,
7/01/49,
(UB)
7/33
at
100.00
502,893
960
(e)
4.750%,
7/01/54,
(UB)
7/33
at
100.00
966,468
TOTAL
DELAWARE
2,396,316
DISTRICT
OF
COLUMBIA
-
1.7%
(1.3%
of
Total
Investments)
325
District
of
Columbia
Revenue
Bonds,
Rocketship
Education
DC
Public
Charter
School
Inc.,
Obligated
Group
-Issue
3,
Series
2024A,
5.750%,
6/01/54
6/31
at
100.00
334,956
10,000
District
of
Columbia,
Income
Tax
Secured
Revenue
Bonds,
Series
2022A,
5.500%,
7/01/47
7/32
at
100.00
11,274,254
TOTAL
DISTRICT
OF
COLUMBIA
11,609,210
FLORIDA
-
12.3%
(9.1%
of
Total
Investments)
1,565
Ave
Maria
Stewardship
Community
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Ave
Maria
National
Project,
Series
2021,
3.750%,
5/01/41
5/31
at
100.00
1,376,963
Capital
Trust
Agency,
Florida,
Educational
Facilities
Lease
Revenue
Bonds,
South
Tech
Schools
Project,
Series
2020A
:
1,215
(c)
5.000%,
6/15/40
6/27
at
100.00
1,192,744
1,260
(c)
5.000%,
6/15/55
6/27
at
100.00
1,166,828
4,530
(c)
Currents
Community
Development
District,
Collier
County,
Florida,
Capital
Improvement
Revenue
Bonds,
Series
2020B,
4.250%,
5/01/41
No
Opt.
Call
4,108,999
10,000
(c)
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Discovery
High
School
Project,
Series
2020A,
5.000%,
6/01/55
6/29
at
100.00
7,544,767
Florida
Development
Finance
Corporation,
Educational
Facilities
Revenue
Bonds,
Renaissance
Charter
School
Income
Projects,
Series
2023A
:
835
(c)
6.000%,
6/15/33
No
Opt.
Call
938,738
1,000
(c)
6.500%,
6/15/38
6/30
at
103.00
1,115,851
1,000
(c)
6.625%,
6/15/43
6/30
at
103.00
1,109,609
7
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
FLORIDA
(continued)
$
2,450
(c)
Florida
Development
Finance
Corporation,
Florida,
Solid
Waste
Disposal
Revenue
Bonds,
Waste
Pro
USA,
Inc.
Project,
Series
2023,
6.125%,
7/01/32,
(AMT),
(Mandatory
Put
7/01/26)
4/26
at
100.00
$
2,515,144
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Brightline
Trains
Florida
LLC
Issue,
Series
2024
:
4,475
(c)
12.000%,
7/15/32,
(AMT),
(Mandatory
Put
7/15/28)
8/24
at
100.00
4,771,576
1,900
5.000%,
7/01/41,
(AMT)
7/32
at
100.00
1,945,762
1,300
(e)
5.000%,
7/01/44
-
AGM
Insured,
(AMT),
(UB)
7/32
at
100.00
1,360,771
1,760
(e)
5.250%,
7/01/53
-
AGM
Insured,
(AMT),
(UB)
7/32
at
100.00
1,839,145
1,400
5.500%,
7/01/53,
(AMT)
7/32
at
100.00
1,455,803
2,750
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023A,
7.500%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
8/24
at
104.50
2,871,229
25,650
(c)
Florida
Development
Finance
Corporation,
Revenue
Bonds,
Brightline
Florida
Passenger
Rail
Expansion
Project,
Series
2023C,
8.250%,
7/01/57,
(AMT),
(Mandatory
Put
8/15/24)
8/24
at
104.50
26,780,803
420
(c)
Florida
Development
Finance
Corporation,
Student
Housing
Revenue
Bonds,
SPP
-
Tampa
I
-
LLC
The
Henry
Project,
Series
2024A-1,
5.250%,
6/01/54
6/34
at
100.00
429,687
Grand
Oaks
Community
Development
District,
Saint
Johns
County,
Florida,
Special
Assessment
Bonds,
Assessment
Area
2,
Series
2020
:
1,095
4.250%,
5/01/40
5/31
at
100.00
1,026,598
1,500
4.500%,
5/01/52
5/31
at
100.00
1,361,784
2,500
Greater
Orlando
Aviation
Authority,
Florida,
Special
Purpose
Airport
Facilities
Revenue
Bonds,
JetBlue
Airways
Corporation,
Series
2013,
5.000%,
11/15/36,
(AMT)
9/24
at
100.00
2,501,158
1,000
Hammock
Reserve
Community
Development
District,
Haines
City,
Florida,
Special
Assessment
Revenue
Bonds,
Area1
Project,
Series
2020,
4.000%,
5/01/51
5/30
at
100.00
864,385
415
Hobe-Saint
Lucie
Conservancy
District,
Florida,
Special
Assessment
Revenue
Bonds,
Improvement
Unit
1A,
Series
2024,
4.750%,
5/01/31
No
Opt.
Call
425,986
1,225
(c)
Miami
Dade
County
Industrial
Development
Authority,
Florida,
Educational
Facilities
Revenue
Bonds,
Miami
Community
Charter
School
Inc
Project,
Series
2020A,
5.000%,
6/01/47
6/26
at
103.00
1,145,807
3,380
Miami,
Florida,
Limited
Ad
Valorem
Tax
Bonds,
Forever
Infrastructure
Programs
Series
2024A,
5.500%,
1/01/49
1/34
at
100.00
3,811,148
870
(e)
Miami-Dade
County,
Florida,
Seaport
Revenue
Bonds,
Refunding
Series
2022A,
5.250%,
10/01/52,
(AMT),
(UB)
10/32
at
100.00
928,240
Miami-Dade
County,
Florida,
Special
Obligation
Bonds,
Subordinate
Series
2009
:
1,360
0.000%,
10/01/37
-
BAM
Insured
No
Opt.
Call
835,124
1,480
0.000%,
10/01/42
-
BAM
Insured
No
Opt.
Call
697,056
2,860
Miami-Dade
County,
Florida,
Water
and
Sewer
System
Revenue
Bonds,
Series
2024A,
5.250%,
10/01/54
4/34
at
100.00
3,174,084
Mirada
Community
Development
District,
Florida,
Capital
Improvement
Bonds,  Assessment
Area
3
Series
2024
:
100
(c)
4.750%,
5/01/31
No
Opt.
Call
100,468
250
(c)
5.625%,
5/01/44
5/34
at
100.00
252,311
325
(c)
North
AR-1
of
Pasco
Community
Development
District,
Florida,
Capital
Improvement
Revenue
Bonds,
Assessment
Area
5,
Series
2024,
5.750%,
5/01/44
5/34
at
100.00
331,060
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
8
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
FLORIDA
(continued)
$
1,145
South
Broward
Hospital
District,
Florida,
Hospital
Revenue
Bonds,
South
Broward
Hospital
District
Obligated
Group,
Refunding
Series
2016A,
4.000%,
5/01/44
5/26
at
100.00
$
1,103,915
310
(c)
Three
Rivers
Community
Development
District,
Florida,
Special
Assessment
Revenue
Bonds,
South
Assessment
Area
Series
2021B,
4.625%,
5/01/36
9/24
at
100.00
304,331
425
Tradition
Community
Development
District
9,
Port
Saint
Lucie,
Florida,
Special
Assessment
Bonds,
Series
2021,
2.700%,
5/01/31
No
Opt.
Call
382,492
450
(c)
Village
Community
Development
District
15,
Florida,
Special
Assessment
Revenue
Bonds,
Series
2023,
4.250%,
5/01/28
No
Opt.
Call
455,005
160
Windward
Community
Development
District,
Florida,
Special
Assessment
Bonds,
Series
2020A-2,
4.400%,
11/01/35
No
Opt.
Call
158,680
TOTAL
FLORIDA
82,384,051
GEORGIA
-
1.1%
(0.8%
of
Total
Investments)
Atlanta,
Georgia,
Airport
Passenger
Facilities
Charge
and
General
Revenue
Bonds,
Subordinate
Lien
Green
Series
2023E
:
1,120
5.250%,
7/01/41,
(AMT)
7/33
at
100.00
1,238,025
1,395
5.250%,
7/01/43,
(AMT)
7/33
at
100.00
1,530,145
750
(c)
Fulton
County
Residential
Care
Facilities
for
the
Elderly
Authority,
Georgia,
Revenue
Bonds,
Canterbury
Court
Project,
Series
2019A,
5.000%,
4/01/47
4/26
at
103.00
717,604
500
Gainesville
and
Hall
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Northeast
Georgia
Health
Services
Inc.,
Series
2021A,
3.000%,
2/15/51
-
BAM
Insured
2/31
at
100.00
390,913
1,000
Griffin-Spalding
County
Hospital
Authority,
Georgia,
Revenue
Anticipation
Certificates,
Wellstar
Health
System
Inc.,
Series
2017A,
4.000%,
4/01/42
4/27
at
100.00
990,801
2,750
(c)
Main
Street
Natural
Gas
Inc.,
Georgia,
Gas
Supply
Revenue
Bonds,
Series
2022C,
4.000%,
8/01/52,
(Mandatory
Put
11/01/27)
5/27
at
100.81
2,708,212
TOTAL
GEORGIA
7,575,700
HAWAII
-
0.1%
(0.1%
of
Total
Investments)
500
(c)
Hawaii
Department
of
Budget
and
Finance,
Special
Purpose
Revenue
Bonds,
Hawaii
Pacific
University
Project,
Refunding
Series
2024,
5.000%,
7/01/39
7/34
at
100.00
503,869
TOTAL
HAWAII
503,869
IDAHO
-
0.3%
(0.2%
of
Total
Investments)
Idaho
Housing
and
Finance
Association,
Single
Family
Mortgage
Revenue
Bonds,
Series
2024A
:
645
(e)
4.050%,
1/01/39,
(UB)
1/33
at
100.00
642,277
565
(e)
4.650%,
1/01/54,
(UB)
1/33
at
100.00
564,414
630
Spring
Valley
Community
Infrastructure
District
1,
Eagle,
Idaho,
Special
Assessment
Bonds,
Series
2024,
6.250%,
9/01/53
3/29
at
103.00
663,406
TOTAL
IDAHO
1,870,097
ILLINOIS
-
6.3%
(4.7%
of
Total
Investments)
Chicago
Board
of
Education,
Illinois,
Dedicated
Capital
Improvement
Tax
Revenue
Bonds,
Series
2023
:
1,000
5.250%,
4/01/34
4/33
at
100.00
1,126,575
1,055
5.000%,
4/01/41
4/33
at
100.00
1,137,180
1,275
5.500%,
4/01/43
4/33
at
100.00
1,414,821
2,000
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2021A,
5.000%,
12/01/34
12/30
at
100.00
2,098,190
Chicago
Board
of
Education,
Illinois,
General
Obligation
Bonds,
Dedicated
Revenues,
Series
2023A
:
9
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
ILLINOIS
(continued)
$
4,565
5.000%,
12/01/33
No
Opt.
Call
$
4,919,642
4,900
5.250%,
12/01/36
12/33
at
100.00
5,327,965
Chicago,
Illinois,
Midway
Airport
Revenue
Bonds,
Refunding
Senior
Lien
Series
2023A
:
120
5.000%,
1/01/29
-
BAM
Insured
No
Opt.
Call
126,755
190
5.000%,
1/01/30
-
BAM
Insured
No
Opt.
Call
202,946
2,250
5.000%,
1/01/31
-
BAM
Insured
No
Opt.
Call
2,427,354
1,485
5.000%,
1/01/32
-
BAM
Insured
No
Opt.
Call
1,616,997
Chicago,
Illinois,
O?Hare
Airport
Customer
Facility
Charge
Revenue
Bonds,
Senior
Lien
Refunding
Series
2023
:
740
5.250%,
1/01/42
-
BAM
Insured
1/33
at
100.00
819,020
820
5.250%,
1/01/43
-
BAM
Insured
1/33
at
100.00
903,701
200
Chicago,
Illinois,
Water
Revenue
Bonds,
Refunding
Second
Lien
Series
2023B,
5.000%,
11/01/37
-
AGM
Insured
5/32
at
100.00
222,852
750
Illinois
Finance
Authority,
Revenue
Bonds,
Ascension
Health/fkaPresence
Health
Network,
Series
2016C,
4.000%,
2/15/41
2/27
at
100.00
737,100
240
Illinois
Finance
Authority,
Revenue
Bonds,
Dominican
University,
Refunding
Series
2022,
5.000%,
3/01/34
9/32
at
100.00
245,905
875
Illinois
Finance
Authority,
Revenue
Bonds,
Lutheran
Home
and
Services,
Series
2019A,
5.000%,
11/01/49
11/26
at
103.00
657,257
815
Illinois
Finance
Authority,
Revenue
Bonds,
Northshore
-
Edward-Elmhurst
Health
Credit
Group,
Series
2022A,
5.000%,
8/15/47
8/32
at
100.00
867,172
Illinois
Finance
Authority,
Revenue
Bonds,
University
of
Chicago,
Series
2024A
:
695
5.250%,
4/01/44
4/34
at
100.00
787,486
740
5.250%,
4/01/45
4/34
at
100.00
835,551
2,500
Illinois
State,
General
Obligation
Bonds,
December
Series
2023C,
5.000%,
12/01/47
12/33
at
100.00
2,664,907
1,500
Illinois
State,
General
Obligation
Bonds,
May
Series
2014,
5.000%,
5/01/32
9/24
at
100.00
1,501,401
4,710
Illinois
State,
General
Obligation
Bonds,
May
Series
2020,
5.750%,
5/01/45
5/30
at
100.00
5,133,146
Illinois
State,
General
Obligation
Bonds,
May
Series
2024B
:
1,300
5.250%,
5/01/42
5/34
at
100.00
1,450,859
1,205
5.250%,
5/01/44
5/34
at
100.00
1,331,214
930
5.250%,
5/01/45
5/34
at
100.00
1,023,439
930
5.250%,
5/01/49
5/34
at
100.00
1,009,760
Metropolitan
Pier
and
Exposition
Authority,
Illinois,
McCormick
Place
Expansion
Project
Bonds,
Refunding
Series
2022A
:
1,800
0.000%,
6/15/39
12/31
at
81.66
942,405
1,500
0.000%,
6/15/40
12/31
at
79.15
742,255
TOTAL
ILLINOIS
42,273,855
INDIANA
-
2.6%
(1.9%
of
Total
Investments)
1,415
(c)
Gary
Local
Public
Improvement
Bond
Bank,
Indiana,
Economic
Development
Revenue
Bonds,
Drexel
Foundation
for
Educational
Excellence
Project,
Refunding
Series
2020A,
5.875%,
6/01/55
6/30
at
100.00
1,351,974
1,190
Indiana
Finance
Authority,
Educational
Facilities
Revenue
Bonds,
Depauw
University
Project,
Series
2019,
5.000%,
7/01/37
7/29
at
100.00
1,242,389
3,125
Indiana
Finance
Authority,
Environmental
Improvement
Revenue
Bonds,
United
States
Steel
Corporation
Project,
Series
2020,
6.750%,
5/01/39,
(AMT)
11/30
at
100.00
3,522,210
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
10
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
INDIANA
(continued)
$
1,500
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Airport
Authority
Project
Revenue
Bonds,
Refunding
Series
2015I,
5.000%,
1/01/32,
(AMT)
1/25
at
100.00
$
1,506,838
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Senior
Series
2023E
:
730
5.750%,
3/01/43
3/33
at
100.00
811,925
680
6.000%,
3/01/53
3/33
at
100.00
751,110
4,060
Indianapolis
Local
Public
Improvement
Bond
Bank,
Indiana,
Revenue
Bonds,
Convention
Center
Hotel
Subordinate
Series
2023F-1,
7.750%,
3/01/67
3/33
at
100.00
4,387,782
3,770
Whiting,
Indiana,
Environmental
Facilities
Revenue
Bonds,
BP
Products
North
America
Inc.
Project,
Series
2015,
4.400%,
11/01/45,
(AMT),
(Mandatory
Put
6/10/31)
No
Opt.
Call
3,808,645
TOTAL
INDIANA
17,382,873
IOWA
-
0.6%
(0.5%
of
Total
Investments)
2,500
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Alcoa
Inc.
Project,
Series
2012,
4.750%,
8/01/42
9/24
at
100.00
2,499,911
1,745
Iowa
Finance
Authority,
Iowa,
Midwestern
Disaster
Area
Revenue
Bonds,
Iowa
Fertilizer
Company
Project,
Refunding
Series
2022,
5.000%,
12/01/50,
(Mandatory
Put
12/01/42)
12/29
at
103.00
1,847,201
TOTAL
IOWA
4,347,112
KENTUCKY
-
0.8%
(0.6%
of
Total
Investments)
2,905
Bell
County,
Kentucky,
Special
Assessment
Industrial
Building
Revenue
Bonds,
Boone's
Ridge
Project,
Series
2020,
6.000%,
12/01/40
12/30
at
100.00
2,646,621
2,175
Carroll
County,
Kentucky,
Environmental
Facilities
Revenue
Bonds,
Kentucky
Utilities
Company
Project,
Refunding
Series
2006B,
2.125%,
10/01/34,
(AMT)
6/31
at
100.00
1,734,312
1,000
Newport,
Kentucky,
Special
Obligation
Revenue
Bonds,
Newport
Clifton
Project,
Series
2020B,
5.500%,
12/01/60
12/30
at
100.00
862,780
TOTAL
KENTUCKY
5,243,713
LOUISIANA
-
1.0%
(0.7%
of
Total
Investments)
1,150
(c)
Louisiana
Publc
Facilities
Authority,
Lousiana,
Revenue
Bonds,
Lincoln
Preparatory
School
Project,
Series
2021A,
5.250%,
6/01/51
6/31
at
100.00
998,507
2,720
Louisiana
Stadium
and
Exposition
District,
Revenue
Bonds,
Senior
Series
2023A,
5.000%,
7/01/43
7/33
at
100.00
2,974,443
500
(c)
Plaquemines
Port,
Harbor
and
Terminal
District,
Louisiana,
Facilities
Revenue
Bonds,
NOLA
Terminal
LLC
Project
Dock
and
Wharf
Series
2024A,
9.000%,
12/01/44
12/34
at
100.00
498,966
2,000
(c)
Saint
James
Parish,
Louisiana,
Revenue
Bonds,
NuStar
Logistics,
L.P.
Project,
Series
2010,
6.350%,
7/01/40
6/30
at
100.00
2,209,404
TOTAL
LOUISIANA
6,681,320
MARYLAND
-
0.0%
(0.0%
of
Total
Investments)
200
(c)
Baltimore,
Maryland,
Special
Obligation
Bonds,
Harbor
Point
Project,
Refunding
Series
2022,
4.500%,
6/01/33
6/31
at
100.00
200,761
TOTAL
MARYLAND
200,761
MICHIGAN
-
2.8%
(2.1%
of
Total
Investments)
1,455
Detroit
Downtown
Development
Authority,
Michigan,
Tax
Increment
Revenue
Bonds,
Catalyst
Development
Project,
Refunding
Series
2024,
5.000%,
7/01/48
7/34
at
100.00
1,531,410
11
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
MICHIGAN
(continued)
$
5,000
Detroit,
Wayne
County,
Michigan,
General
Obligation
Bonds,
Financial
Recovery
Series
2014B-1,
4.000%,
4/01/44
9/24
at
100.00
$
4,027,837
710
Gerald
R.
Ford
International
Airport
Authority,
Kent
County,
Michigan,
Revenue
Bonds,
Limited
Tax
General
Obligation
Series
2021,
5.000%,
1/01/46,
(AMT)
1/32
at
100.00
756,966
1,135
Great
Lakes
Water
Authority,
Michigan,
Sewer
Disposal
System
Revenue
Bonds,
Senior
Lien
Series
2023C,
5.250%,
7/01/48
1/34
at
100.00
1,268,781
3,480
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2023B,
5.250%,
7/01/53
1/34
at
100.00
3,859,882
Great
Lakes
Water
Authority,
Michigan,
Water
Supply
Revenue
Bonds,
Senior
Lien
Series
2024A
:
4,000
5.000%,
7/01/35
1/34
at
100.00
4,638,115
1,540
5.000%,
7/01/37
1/34
at
100.00
1,775,450
1,070
Wayne
County
Airport
Authority,
Michigan,
Revenue
Bonds,
Detroit
Metropolitan
Wayne
County
Airport,
Series
2023B,
5.250%,
12/01/37
-
AGM
Insured,
(AMT)
12/33
at
100.00
1,203,310
TOTAL
MICHIGAN
19,061,751
MINNESOTA
-
1.3%
(1.0%
of
Total
Investments)
3,620
Minnesota
Agricultural
and
Economic
Development
Board,
Health
Care
Facilities
Revenue
Bonds,
Essentia
Health
Obligated
Group,
Series
2024A,
5.250%,
1/01/54
1/34
at
100.00
3,921,615
3,745
(c)
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Community
School
of
Excellence,
Series
2023,
5.500%,
3/01/53
3/33
at
100.00
3,850,527
1,140
Saint
Paul
Housing
&
Redevelopment
Authority,
Minnesota,
Charter
School
Lease
Revenue
Bonds,
Hope
Community
Academy
Project,
Series
2020A,
5.000%,
12/01/55
12/28
at
102.00
843,957
TOTAL
MINNESOTA
8,616,099
MISSISSIPPI
-
0.5%
(0.3%
of
Total
Investments)
Warren
County,
Mississippi,
Certificates
of
Participation,
Lease
Purchase
Jail
Project
Series
2023
:
1,190
(e)
6.000%,
9/01/48,
(UB)
9/33
at
100.00
1,368,540
1,580
(e)
6.000%,
9/01/53,
(UB)
9/33
at
100.00
1,797,199
TOTAL
MISSISSIPPI
3,165,739
MISSOURI
-
1.0%
(0.7%
of
Total
Investments)
3,000
Missouri
Health
and
Educational
Facilities
Authority,
Health
Facilities
Revenue
Bonds,
Mercy
Health,
Series
2014F,
4.000%,
11/15/45
11/24
at
100.00
2,837,522
Saint
Louis
Municipal
Finance
Corporation,
Missouri,
Leasehold
Revenue
Bonds,
Convention
Center,
Expansion
&
Improvement
Projects
Series
2020
:
1,000
5.000%,
10/01/40
-
AGM
Insured
10/30
at
100.00
1,070,797
2,625
5.000%,
10/01/45
-
AGM
Insured
10/30
at
100.00
2,747,971
TOTAL
MISSOURI
6,656,290
MONTANA
-
0.3%
(0.2%
of
Total
Investments)
1,975
Forsyth,
Rosebud
County,
Montana,
Pollution
Control
Revenue
Refunding
Bonds,
Northwestern
Corporation
Colstrip
Project,
Series
2023,
3.875%,
7/01/28
4/28
at
100.00
1,996,639
TOTAL
MONTANA
1,996,639
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
12
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
NEBRASKA
-
1.3%
(1.0%
of
Total
Investments)
$
3,750
Central
Plains
Energy
Project,
Nebraska,
Gas
Project
Revenue
Bonds,
Project
5,
Series
2022-1,
5.000%,
5/01/53,
(Mandatory
Put
10/01/29)
7/29
at
100.22
$
3,938,558
4,665
(e)
Nebraska
Investment
Finance
Authority,
Single
Family
Housing
Revenue
Bonds,
Social
Series
2024C,
4.700%,
9/01/49,
(UB)
3/33
at
100.00
4,700,827
TOTAL
NEBRASKA
8,639,385
NEVADA
-
0.1%
(0.0%
of
Total
Investments)
1,843
(c),(d)
Director
of
Nevada
State
Department
of
Business
&
Industry,
Environmental
Improvement
Revenue
Bonds,
Fulcrum
Sierra
BioFuels
LLC
Project,
Green
Series
2020,
0.000%,
2/15/38
2/31
at
100.00
7,555
440
Las
Vegas,
Nevada,
Local
Improvement
Bonds,
Special
Improvement
District
611
Sunstone
Phase
I
and
II,
Series
2020,
4.000%,
6/01/40
6/30
at
100.00
395,940
TOTAL
NEVADA
403,495
NEW
HAMPSHIRE
-
0.5%
(0.4%
of
Total
Investments)
4,000
(c)
New
Hampshire
Health
and
Education
Facilities
Authority,
Revenue
Bonds,
Covenant
Health
Group
Series
2023,
4.000%,
7/01/37
1/33
at
100.00
3,656,913
TOTAL
NEW
HAMPSHIRE
3,656,913
NEW
JERSEY
-
0.3%
(0.2%
of
Total
Investments)
1,475
(c)
New
Jersey
Economic
Development
Authority,
Energy
Facilities
Revenue
Bonds,
UMM
Energy
Partners,
LLC
Project,
Series
2012A,
7.000%,
6/15/30
9/24
at
100.00
1,475,119
750
New
Jersey
Economic
Development
Authority,
Revenue
Bonds,
Motor
Vehicle
Surcharge,
Refunding
Subordinate
Series
2017A,
3.375%,
7/01/30
7/27
at
100.00
732,055
TOTAL
NEW
JERSEY
2,207,174
NEW
MEXICO
-
1.0%
(0.8%
of
Total
Investments)
7,000
(c)
Winrock
Town
Center
Tax
Increment
Development
District
1,
Albuquerque,
New
Mexico,
Gross
Receipts
Tax
Increment
Bonds,
Subordinate
Lien
Series
2020,
8.000%,
5/01/40
9/24
at
103.00
6,791,637
TOTAL
NEW
MEXICO
6,791,637
NEW
YORK
-
21.3%
(15.8%
of
Total
Investments)
1,240
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Albert
Einstein
College
of
Medicine,
Inc,
Series
2023,
7.250%,
6/01/55
12/30
at
100.00
1,336,073
5,000
(c)
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020A-1,
5.500%,
6/01/55
12/30
at
100.00
4,703,530
Build
NYC
Resource
Corporation,
New
York,
Revenue
Bonds,
Family
Life
Academy
Charter
School,
Series
2020C-1
:
1,310
(c)
5.000%,
6/01/40
12/30
at
100.00
1,265,421
3,000
(c)
5.000%,
6/01/55
12/30
at
100.00
2,610,696
10,000
Dormitory
Authority
of
the
State
of
New
York,
Revenue
Bonds,
Catholic
Health
System
Obligated
Group
Series
2019A,
4.000%,
7/01/45
7/29
at
100.00
8,095,509
7,940
Dormitory
Authority
of
the
State
of
New
York,
State
Sales
Tax
Revenue
Bonds,
Series
2024A,
5.000%,
3/15/55,
(UB)
9/34
at
100.00
8,611,570
Dutchess
County
Local
Development
Corporation,
New
York,
Revenue
Bonds,
Health
Quest
Systems,
Inc.
Project,
Series
2016B
:
7,630
5.000%,
7/01/32
7/26
at
100.00
7,763,706
1,095
5.000%,
7/01/35
7/26
at
100.00
1,112,771
750
Glen
Cove
Local
Economic
Assistance
Corporation,
New
York,
Revenue
Bonds,
Garvies
Point
Public
Improvement
Project,
Capital
Appreciation
Series
2016C,
5.625%,
1/01/55
1/34
at
100.00
683,992
10,000
Metropolitan
Transportation
Authority,
New
York,
Transportation
Revenue
Bonds,
Series
2014D-1,
5.250%,
11/15/44
11/24
at
100.00
10,034,354
13
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
NEW
YORK
(continued)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024A-1
:
$
1,000
(e)
4.650%,
11/01/49,
(UB)
5/32
at
100.00
$
1,005,628
1,720
(e)
4.750%,
11/01/54,
(UB)
5/32
at
100.00
1,735,825
975
(e)
New
York
City
Housing
Development
Corporation,
New
York,
Multifamily
Housing
Revenue
Bonds,
Sustainable
Development
Series
2024B-1-A,
4.750%,
11/01/54,
(UB)
5/32
at
100.00
983,970
5,845
New
York
City
Municipal
Water
Finance
Authority,
New
York,
Water
and
Sewer
System
Second
General
Resolution
Revenue
Bonds,
Fiscal
2024
Series
CC-1,
5.250%,
6/15/54
6/34
at
100.00
6,488,048
2,785
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2018
Series
A-3,
5.000%,
8/01/41
8/27
at
100.00
2,892,329
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
2025
Subseries
Series
A-1
:
5,755
5.000%,
11/01/37
11/34
at
100.00
6,656,725
1,665
5.000%,
11/01/38
11/34
at
100.00
1,914,070
840
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2023F-1,
5.250%,
2/01/40
2/33
at
100.00
956,472
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Fiscal
Series
2024G-1
:
8,870
5.000%,
5/01/43
5/34
at
100.00
9,914,016
1,855
5.000%,
5/01/47
5/34
at
100.00
2,038,620
New
York
City
Transitional
Finance
Authority,
New
York,
Future
Tax
Secured
Bonds,
Subordinate
Series
2024F-1
:
1,335
5.000%,
2/01/46
2/34
at
100.00
1,470,547
2,000
5.000%,
2/01/47
2/34
at
100.00
2,193,862
1,180
5.000%,
2/01/48
2/34
at
100.00
1,290,837
2,575
5.000%,
2/01/49
2/34
at
100.00
2,810,850
1,300
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
C,
5.250%,
3/01/53
3/34
at
100.00
1,440,694
2,380
New
York
City,
New
York,
General
Obligation
Bonds,
Fiscal
2024
Series
D,
5.250%,
4/01/54
4/34
at
100.00
2,637,321
2,500
New
York
Transportation
Development
Corporation,
New
York,
Special
Facilities
Bonds,
LaGuardia
Airport
Terminal
B
Redevelopment
Project,
Series
2016A,
5.000%,
7/01/41,
(AMT)
9/24
at
100.00
2,496,357
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
American
Airlines,
Inc.
John
F
Kennedy
International
Airport
Project,
Series
2020
:
9,175
5.250%,
8/01/31,
(AMT)
8/30
at
100.00
9,736,099
3,400
5.375%,
8/01/36,
(AMT)
8/30
at
100.00
3,621,758
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
John
F
Kennedy
International
Airport
New
Terminal
1
Project,
Green
Series
2024
:
1,955
5.250%,
6/30/49,
(AMT)
6/33
at
100.00
2,063,052
2,340
5.500%,
6/30/54,
(AMT)
6/33
at
100.00
2,498,431
New
York
Transportation
Development
Corporation,
New
York,
Special
Facility
Revenue
Bonds,
New
Terminal
1
John
F
Kennedy
International
Airport
Project,
Green
Series
2023
:
395
5.500%,
6/30/39,
(AMT)
6/31
at
100.00
431,493
165
5.500%,
6/30/40,
(AMT)
6/31
at
100.00
179,380
215
5.500%,
6/30/43
-
AGM
Insured,
(AMT)
6/31
at
100.00
233,629
240
5.500%,
6/30/44
-
AGM
Insured,
(AMT)
6/31
at
100.00
260,093
845
6.000%,
6/30/54,
(AMT)
6/31
at
100.00
920,276
1,590
5.125%,
6/30/60
-
AGM
Insured,
(AMT)
6/31
at
100.00
1,649,735
3,315
5.375%,
6/30/60,
(AMT)
6/31
at
100.00
3,448,365
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
14
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
NEW
YORK
(continued)
$
3,000
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2020,
5.000%,
10/01/40,
(AMT)
10/30
at
100.00
$
3,123,373
New
York
Transportation
Development
Corporation,
Special
Facility
Revenue
Bonds,
Delta
Air
Lines,
Inc.
-
LaGuardia
Airport
Terminals
C&D
Redevelopment
Project,
Series
2023
:
1,600
6.000%,
4/01/35,
(AMT)
4/31
at
100.00
1,806,494
2,805
5.625%,
4/01/40,
(AMT)
4/31
at
100.00
3,035,149
460
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty
Second
Series
2023,
5.000%,
12/01/41,
(AMT)
12/33
at
100.00
495,048
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Forty-Fourth
Series
2024
:
3,370
5.000%,
7/15/42
7/34
at
100.00
3,810,612
585
5.000%,
7/15/44
7/34
at
100.00
655,263
Port
Authority
of
New
York
and
New
Jersey,
Consolidated
Revenue
Bonds,
Two
Hundred
Thirty-Eighth
Series
2023
:
565
5.000%,
7/15/35,
(AMT)
7/33
at
100.00
617,841
1,000
5.000%,
7/15/38,
(AMT)
7/33
at
100.00
1,078,514
3,300
(c)
Syracuse
Industrial
Development
Authority,
New
York,
PILOT
Revenue
Bonds,
Carousel
Center
Project,
Taxable
Series
2007B,
5.693%,
1/01/28
-
SYNCORA
GTY
Insured
No
Opt.
Call
3,099,019
3,705
Triborough
Bridge
and
Tunnel
Authority,
New
York,
Payroll
Mobility
Tax
Bonds,
MTA
Bridges
and
Tunnels,
Senior
Lien
Green
Climate
Bond
Certified
Series
2024B-2,
5.250%,
5/15/54
5/34
at
100.00
4,097,015
TOTAL
NEW
YORK
142,004,432
NORTH
CAROLINA
-
0.2%
(0.1%
of
Total
Investments)
Greater
Asheville
Regional
Airport
Authority,
North
Carolina,
Airport
System
Revenue
Bonds,
Series
2023
:
335
5.250%,
7/01/41
-
AGM
Insured,
(AMT)
7/33
at
100.00
368,178
340
5.250%,
7/01/43
-
AGM
Insured,
(AMT)
7/33
at
100.00
370,537
370
North
Carolina
Medical
Care
Commission,
Retirement
Facilities
First
Mortgage
Revenue
Bonds,
The
Forest
at
Duke,
Inc.,
Series
2021,
4.000%,
9/01/46
9/28
at
103.00
318,630
TOTAL
NORTH
CAROLINA
1,057,345
OHIO
-
1.0%
(0.8%
of
Total
Investments)
1,995
Buckeye
Tobacco
Settlement
Financing
Authority,
Ohio,
Tobacco
Settlement
Asset-Backed
Revenue
Bonds,
Refunding
Senior
Lien
Series
2020B-2
Class
2,
5.000%,
6/01/55
6/30
at
100.00
1,850,284
3,450
(c)
Jefferson
County
Port
Authority,
Ohio,
Economic
Development
Revenue
Bonds,
JSW
Steel
USA
Ohio,
Inc.
Project,
Series
2023,
5.000%,
12/01/53,
(AMT),
(Mandatory
Put
12/01/28)
9/28
at
100.00
3,512,308
1,000
Ohio
Air
Quality
Development
Authority,
Ohio,
Pollution
Control
Revenue
Bonds,
FirstEnergy
Generation
Corporation
Project,
Refunding
Series
2009D,
3.375%,
8/01/29
No
Opt.
Call
974,164
625
(e)
Ohio
Housing
Finance
Agency,
Residential
Mortgage
Revenue
Bonds,
Mortgage-Backed
Securities
Program,
Social
Series
2024A,
4.650%,
9/01/54,
(UB)
9/33
at
100.00
624,329
TOTAL
OHIO
6,961,085
OKLAHOMA
-
0.4%
(0.3%
of
Total
Investments)
2,500
Norman
Regional
Hospital
Authority,
Oklahoma,
Hospital
Revenue
Bonds,
Refunding
Series
2017,
5.000%,
9/01/37
9/27
at
100.00
2,535,396
TOTAL
OKLAHOMA
2,535,396
15
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
OREGON
-
0.2%
(0.1%
of
Total
Investments)
$
1,165
Astoria
Hospital
Facilities
Authority,
Oregon,
Hospital
Revenue
Bonds,
Columbia
Memorial
Hospital
Project,
Series
2024,
5.250%,
8/01/49
2/34
at
100.00
$
1,244,928
TOTAL
OREGON
1,244,928
PENNSYLVANIA
-
4.7%
(3.5%
of
Total
Investments)
Allegheny
County
Airport
Authority,
Pennsylvania,
Airport
Revenue
Bonds,
Pittsburgh
International
Airport,
Series
2023A
:
700
5.250%,
1/01/39
-
AGM
Insured,
(AMT)
1/33
at
100.00
773,634
700
5.500%,
1/01/43
-
AGM
Insured,
(AMT)
1/33
at
100.00
779,151
1,000
Allegheny
County
Hospital
Development
Authority,
Pennsylvania,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2019A,
4.000%,
7/15/37
7/29
at
100.00
1,002,502
900
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
615
Waterfront
Project,
Senior
Series
2021,
6.000%,
5/01/42
5/31
at
100.00
951,758
3,000
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
City
Center
Refunding
Project,
Series
2017,
5.000%,
5/01/42
5/27
at
100.00
3,007,820
1,625
(c)
Allentown
Neighborhood
Improvement
Zone
Development
Authority,
Pennsylvania,
Tax
Revenue
Bonds,
Neuweiler
Lofts
Project,
Series
2023,
6.250%,
5/01/42
5/33
at
100.00
1,641,744
1,000
(c)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2017,
5.125%,
10/15/41
10/27
at
100.00
750,405
2,000
(c)
Dauphin
County
General
Authority,
Pennsylvania,
Revenue
Bonds,
Harrisburg
University
of
Science
&
Technology
Project,
Series
2020,
6.250%,
10/15/53
10/28
at
100.00
1,566,605
9,000
Geisinger
Authority,
Montour
County,
Pennsylvania,
Health
System
Revenue
Bonds,
Geisinger
Health
System,
Series
2017A-2,
5.000%,
2/15/39
2/27
at
100.00
9,266,758
1,300
(d),(f)
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31
No
Opt.
Call
130
300
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
PPL
Energy
Supply,
LLC
Project,
Refunding
Series
2009C,
5.250%,
12/01/37,
(Mandatory
Put
6/01/27)
6/26
at
100.00
304,948
2,960
Pennsylvania
Economic
Development
Financing
Authority,
Parking
System
Revenue
Bonds,
Capitol
Region
Parking
System,
Junior
Guaranteed
Series
2013B,
0.000%,
1/01/45
-
BAM
Insured
No
Opt.
Call
1,214,351
2,040
Pennsylvania
Economic
Development
Financing
Authority,
Revenue
Bonds,
University
of
Pittsburgh
Medical
Center,
Series
2017A,
4.000%,
11/15/42
11/27
at
100.00
1,958,516
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-144A
:
340
(e)
4.450%,
10/01/44,
(UB)
10/32
at
100.00
340,060
1,850
(e)
4.600%,
10/01/49,
(UB)
10/32
at
100.00
1,854,866
Pennsylvania
Housing
Finance
Agency,
Single
Family
Mortgage
Revenue
Bonds,
Social
Series
2024-145A
:
2,545
(e)
4.750%,
10/01/49,
(UB)
4/33
at
100.00
2,573,658
2,545
(e)
4.800%,
10/01/51,
(UB)
4/33
at
100.00
2,576,217
Pennsylvania
Turnpike
Commission,
Turnpike
Revenue
Bonds,
Series
2022B
:
30
5.250%,
12/01/41
12/32
at
100.00
33,677
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
16
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
PENNSYLVANIA
(continued)
$
485
5.250%,
12/01/42
12/32
at
100.00
$
542,057
TOTAL
PENNSYLVANIA
31,138,857
PUERTO
RICO
-
6.0%
(4.5%
of
Total
Investments)
409
HTA
Claas
6,
Puerto
Rico
Highway
and
Transportation
Authority
Highway
Revenue
Bonds,
Series
2022,
5.250%,
7/01/38
8/24
at
100.00
409,399
Puerto
Rico
Aqueduct
and
Sewerage
Authority,
Revenue
Bonds,
Refunding
Senior
Lien
Series
2021B
:
3,500
(c)
5.000%,
7/01/37
7/31
at
100.00
3,664,370
6,500
(c)
4.000%,
7/01/42
7/31
at
100.00
6,125,820
8,000
(d)
Puerto
Rico
Electric
Power
Authority,
Revenue
Bonds,
Series
2010XX,
5.250%,
7/01/40
9/24
at
100.00
3,780,000
2,150
Puerto
Rico
Sales
Tax
Financing
Corporation,
Sales
Tax
Revenue
Bonds,
Restructured
2018A-1,
4.550%,
7/01/40
7/28
at
100.00
2,152,981
12,257
Puerto
Rico,
GDB
Debt
Recovery
Authority
Commonwealth
Bonds,
Taxable
Series
2018,
7.500%,
8/20/40
No
Opt.
Call
11,919,392
9,669
Puerto
Rico,
General
Obligation
Bonds,
Clawback
Highway
Transportation
Authority
Claims
Taxable
Series
2022,
0.000%,
11/01/51
No
Opt.
Call
6,079,549
Puerto
Rico,
General
Obligation
Bonds,
Restructured
Series
2022A-1
:
1,030
0.000%,
7/01/33
7/31
at
89.94
694,533
0
(g)
4.000%,
7/01/35
7/31
at
103.00
63
1,117
4.000%,
7/01/37
7/31
at
103.00
1,088,488
839
4.000%,
7/01/41
7/31
at
103.00
789,743
6,061
Puerto
Rico,
General
Obligation
Bonds,
Vintage
CW
NT
Claims
Taxable
Series
2022,
0.000%,
11/01/43
No
Opt.
Call
3,720,016
TOTAL
PUERTO
RICO
40,424,354
SOUTH
CAROLINA
-
0.8%
(0.6%
of
Total
Investments)
1,000
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Columbia
College,
Refunding
Series
2020A,
5.625%,
10/01/40
10/27
at
103.00
987,902
1,000
(c)
South
Carolina
Jobs-Economic
Development
Authority,
Educational
Facilities
Revenue
Bonds,
Horse
Creek
Academy
Project,
Series
2021A,
5.000%,
11/15/55
11/26
at
100.00
929,873
South
Carolina
Jobs-Economic
Development
Authority,
Health
Care
Facilities
Revenue
Bonds,
Novant
Health
Group,
Series
2024A
:
2,170
5.500%,
11/01/49
5/34
at
100.00
2,447,304
1,000
5.500%,
11/01/54
5/34
at
100.00
1,119,518
TOTAL
SOUTH
CAROLINA
5,484,597
TENNESSEE
-
1.8%
(1.4%
of
Total
Investments)
Metropolitan
Government
of
Nashville
and
Davidson
County
Sports
Authority,
Tennessee,
Revenue
Bonds,
Stadium
Project,
Subordinate
Senior
Series
2023A
:
1,895
5.000%,
7/01/40
-
AGM
Insured
1/34
at
100.00
2,106,533
1,345
5.000%,
7/01/41
-
AGM
Insured
1/34
at
100.00
1,486,018
1,650
5.000%,
7/01/42
-
AGM
Insured
1/34
at
100.00
1,813,986
650
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Belmont
University,
Series
2023,
5.000%,
5/01/40
5/33
at
100.00
709,239
Metropolitan
Government
of
Nashville-Davidson
County
Health
and
Educational
Facilities
Board,
Tennessee,
Revenue
Bonds,
Vanderbilt
University,
Series
2023A
:
2,705
5.000%,
7/01/28
No
Opt.
Call
2,881,093
17
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
TENNESSEE
(continued)
$
2,905
5.000%,
7/01/33
No
Opt.
Call
$
3,281,834
TOTAL
TENNESSEE
12,278,703
TEXAS
-
10.1%
(7.5%
of
Total
Investments)
500
(c)
Abilene
Convention
Center
Hotel
Development
Corporation,
Texas,
Hotel
Revenue
Bonds,
Second-Lien
Series
2021B,
5.000%,
10/01/50
10/31
at
100.00
438,156
Cedar
Hill
Independent
School
District,
Dallas
County,
Texas,
General
Obligation
Bonds,
Series
2024
:
2,570
5.000%,
2/15/45,
(WI/DD)
2/34
at
100.00
2,835,703
Chambers
County
Justice
Center
Public
Facilities
Corporation,
Texas,
Lease
Revenue
Bonds,
Series
2024
:
1,070
5.500%,
6/01/49
6/33
at
100.00
1,179,160
1,820
5.500%,
6/01/55
6/33
at
100.00
1,997,747
225
(c)
City
of
Midlothian,
Texas,
Westside
Preserve
Public
Improvement
District
Improvement
Area
#1
Project,
Special
Assessment
Revenue
Bonds,
Series
2022,
4.750%,
9/15/32
No
Opt.
Call
222,393
Dallas
Fort
Worth
International
Airport,
Texas,
Joint
Revenue
Bonds,
Refunding
Series
2023C
:
330
5.000%,
11/01/27,
(AMT)
No
Opt.
Call
345,011
1,480
5.000%,
11/01/28,
(AMT)
No
Opt.
Call
1,567,378
4,000
5.000%,
11/01/29,
(AMT)
No
Opt.
Call
4,267,101
4,605
Dallas,
Texas,
General
Obligation
Bonds,
Refunding
and
Improvement
Series
2023A,
5.000%,
2/15/42
2/33
at
100.00
5,052,483
1,280
Fort
Bend
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
NRG
Energy
Inc.
Project,
Series
2012B,
4.750%,
11/01/42
9/24
at
100.00
1,280,130
570
Galveston,
Texas,
Wharves
and
Terminal
First
Lien
Revenue
Bonds,
Series
2023,
6.000%,
8/01/43,
(AMT)
2/33
at
100.00
641,844
1,000
Harris
County
Industrial
Development
Corporation,
Texas,
Revenue
Bonds,
Energy
Transfer
LP
Project,
Marine
Terminal
Refunding
Series
2023,
4.050%,
11/01/50,
(Mandatory
Put
6/01/33)
3/33
at
100.00
1,018,404
Harris
County,
Texas,
Toll
Road
Revenue
Bonds,
Refunding
First
Lien
Series
2024A
:
3,335
5.250%,
8/15/49
8/34
at
100.00
3,714,728
3,280
5.250%,
8/15/54
8/34
at
100.00
3,637,312
2,865
Houston,
Texas,
Airport
System
Revenue
Bonds,
Refunding
Subordinate
Lien
Series
2023A,
5.000%,
7/01/34
-
AGM
Insured,
(AMT)
7/33
at
100.00
3,158,757
Lewisville
Independent
School
District,
Denton
and
Tarrant
Counties,
Texas,
General
Obligation
Bonds,
Refunding
School
Building
Series
2024
:
970
5.000%,
8/15/41
8/33
at
100.00
1,077,728
1,895
5.000%,
8/15/42
8/33
at
100.00
2,095,377
1,925
4.000%,
8/15/44
8/33
at
100.00
1,899,010
5,610
Love
Field
Airport
Modernization
Corporation,
Texas,
General
Airport
Revenue
Bonds,
Refunding
Series
2021,
4.000%,
11/01/38
-
AGM
Insured,
(AMT)
11/31
at
100.00
5,585,599
500
(c)
Marble
Falls,
Burnet
County,
Texas,
Special
Assessment
Revenue
Bonds,
Thunder
Rock
Public
Improvement
District
Improvement
Area
1
Project,
Series
2021,
4.125%,
9/01/41
9/31
at
100.00
455,072
1,500
Matagorda
County
Navigation
District
1,
Texas,
Pollution
Control
Revenue
Bonds,
AEP
Texas
Central
Company
Project,
Remarketing,
Series
2008-1,
4.000%,
6/01/30
9/24
at
100.00
1,500,288
625
(c)
McLendon-Chisholm,
Texas,
Special
Assessment
Revenue
Bonds,
Sonoma
Public
Improvement  District
Improvement
Area
3
Project,
Series
2021,
3.625%,
9/15/41
9/31
at
100.00
508,097
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
18
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
TEXAS
(continued)
$
500
(c)
Mesquite,
Texas,
Special
Assessment
Revenue
Bonds,
Solterra
Public
Improvement
District
Improvement
Area
A-1
Projects,
Series
2023,
5.500%,
9/01/43
9/33
at
100.00
$
505,519
4,175
(c)
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Education
Revenue
Bonds,
Southwest
Preparatory
School,
Series
2020A,
5.000%,
8/15/50
8/25
at
103.00
3,976,474
New
Hope
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Senior
Living
Revenue
Bonds,
Sanctuary
LTC
LLC
Project,
Series
2021A-1
:
2,865
5.250%,
1/01/42
1/28
at
103.00
2,791,510
1,025
5.500%,
1/01/57
1/28
at
103.00
978,797
3,500
(c)
Port
Beaumont
Industrial
Development
Authority,
Texas,
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2021B,
4.100%,
1/01/28
9/24
at
101.03
3,077,480
345
(c)
Port
Beaumont
Navigation
District,
Jefferson
County,
Texas,
Dock
and
Wharf
Facility
Revenue
Bonds,
Jefferson
Gulf
Coast
Energy
Project,
Series
2024A,
5.000%,
1/01/39,
(AMT)
1/32
at
104.00
348,081
2,000
(c)
Sachse,
Texas,
Special
Assessment
Bonds,
Sachse
Public
Improvement
District
1
Major
Improvement
Area
Project,
Series
2020,
5.375%,
9/15/40
9/30
at
100.00
2,008,517
450
Tarrant
County
Cultural
Education
Facilities
Finance
Corporation,
Texas,
Hospital
Revenue
Bonds,
Hendrick
Medical
Center,
Taxable
Series
2021,
3.292%,
9/01/40
-
AGM
Insured
9/30
at
100.00
362,851
Texas
Private
Activity
Bond
Surface
Transpiration
Corporation,
Senior
Lien
Revenue
Bonds,
NTE
Mobility
Partners
Segments
3
LLC
Refunding
Series
2023
:
475
5.375%,
6/30/38,
(AMT)
6/28
at
103.00
514,579
465
5.500%,
6/30/41,
(AMT)
6/28
at
103.00
501,945
1,500
Texas
Private
Activity
Bond
Surface
Transporation
Corporation,
Senior
Lien
Revenue
Bonds,
Blueridge
Transportation
Group,
LLC
SH
288
Toll
Lanes
Project,
Series
2016,
5.000%,
12/31/50,
(AMT)
12/25
at
100.00
1,510,404
650
Texas
Water
Development
Board,
State
Water
Implementation
Revenue
Fund
Bonds,
Master
Trust
Series
2021,
4.000%,
10/15/51
10/31
at
100.00
621,872
Waco,
Texas,
Certificates
of
Obligation,
Combination
Tax
&
Revenue
Series
2024A
:
735
5.000%,
2/01/39
2/34
at
100.00
829,232
1,330
5.000%,
2/01/42
2/34
at
100.00
1,471,047
1,450
5.000%,
2/01/43
2/34
at
100.00
1,596,183
375
5.000%,
2/01/44
2/34
at
100.00
411,338
1,160
5.250%,
2/01/54
2/34
at
100.00
1,276,917
TOTAL
TEXAS
67,260,224
UTAH
-
0.9%
(0.7%
of
Total
Investments)
205
(c)
Black
Desert
Public
Infrastructure
District,
Washington
County,
Utah,
Special
Assessment
Bonds,
Black
Desert
Assessment
Area
1,
Series
2024,
5.625%,
12/01/53
6/29
at
103.00
211,956
500
(c)
Red
Bridge
Public
Infrastructure
District
1,
Utah,
Limited
Tax
General
Obligation
Bonds,
Series
2021A,
4.125%,
2/01/41
2/26
at
103.00
393,419
645
Salt
Lake
City,
Utah,
Airport
Revenue
Bonds,
International
Airport
Series
2023A,
5.250%,
7/01/43,
(AMT)
7/33
at
100.00
697,410
950
(c)
Utah
Charter
School
Finance
Authority,
Charter
School
Revenue
Bonds,
Paradigm
High
School
Project,
Series
2020A,
5.125%,
7/15/51
1/25
at
102.00
848,868
1,185
(e)
Utah
Housing
Corporation,
Single
Family
Mortgage
Bonds,
Series
2024C,
4.650%,
1/01/49,
(UB)
1/33
at
100.00
1,192,326
19
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
UTAH
(continued)
$
2,540
(c)
Wohali
Public
Infrastructure
District
1,
Utah,
Special
Assessment
Revenue
Bonds,
Assessment
Area
1
Series
2023,
7.000%,
12/01/42
9/28
at
103.00
$
2,574,600
TOTAL
UTAH
5,918,579
VIRGIN
ISLANDS
-
0.5%
(0.4%
of
Total
Investments)
2,365
Matching
Fund
Special
Purpose
Securitization
Corporation,
Virgin
Islands,
Revenue
Bonds,
Series
2022A,
5.000%,
10/01/32
No
Opt.
Call
2,505,281
1,000
(c)
West
Indian
Company
Limited,
Virgin
Islands,
Port
Facilities
Revenue
Bonds,
WICO
Financing,
Series
2022A,
6.125%,
10/01/42
10/29
at
104.00
964,637
TOTAL
VIRGIN
ISLANDS
3,469,918
VIRGINIA
-
1.1%
(0.8%
of
Total
Investments)
775
Alexandria
Sanitation
Authority,
Virginia,
Wastewater
Revenue
Bonds,
Alexrenew
Green
Series
2024,
5.000%,
7/15/54
7/34
at
100.00
857,146
1,640
(c)
Cherry
Hill
Community
Development
Authority,
Virginia,
Special
Assesment
Bonds,
Potomac
Shores
Project,
Series
2015,
5.400%,
3/01/45
3/25
at
100.00
1,644,458
3,580
Roanoke
Economic
Development
Authority,
Virginia,
Hospital
Revenue
Bonds,
Carilion
Clinic
Obligated
Group,
Series
2020D,
5.000%,
7/01/53,
(Mandatory
Put
7/01/30)
1/30
at
100.00
3,888,131
990
(c)
Virginia
Small
Business
Financing
Authority,
Tourism
Development
Financing
Program
Revenue
Bonds,
Virginia
Beach
Oceanfront
South
Hotel
Project,
Senior
Series
2020A-1,
8.000%,
10/01/43
10/30
at
120.40
1,020,354
TOTAL
VIRGINIA
7,410,089
WASHINGTON
-
2.2%
(1.6%
of
Total
Investments)
Port
of
Seattle,
Washington,
General
Obligation
Bonds,
Limited
Tax
Series,
Refunding  2024A
:
1,370
5.000%,
6/01/43,
(AMT)
6/34
at
100.00
1,480,415
1,390
5.000%,
6/01/44,
(AMT)
6/34
at
100.00
1,500,070
1,600
5.000%,
6/01/45,
(AMT)
6/34
at
100.00
1,719,249
940
5.000%,
6/01/46,
(AMT)
6/34
at
100.00
1,009,313
1,770
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Health
&
Services,
Series
2014D,
5.000%,
10/01/41
10/24
at
100.00
1,770,265
1,915
Washington
Health
Care
Facilities
Authority,
Revenue
Bonds,
Providence
Saint
Joseph
Health,
Refunding
Series
2021B,
4.000%,
10/01/42,
(Mandatory
Put
10/01/30)
No
Opt.
Call
1,935,769
5,653
Washington
State
Housing
Finance
Commission,
Social
Municipal
Certificates
Multifamily
Revenue
Bonds,
Series
2023-1
Class
A,
3.375%,
4/20/37
No
Opt.
Call
5,104,240
TOTAL
WASHINGTON
14,519,321
WEST
VIRGINIA
-
0.8%
(0.6%
of
Total
Investments)
200
(c)
Monongalia
County
Commission,
West
Virginia,
Special
District
Excise
Tax
Revenue
Bonds,
University
Town
Centre
Economic
Opportunity
Development
District,
Subordinate
Improvement
Series
2023A,
7.000%,
6/01/43
6/30
at
103.00
214,617
3,770
(c)
West
Virginia
Economic
Development
Authority,
Dock
and
Wharf
Facilities
Revenue
Bonds,
Empire
Trimodal
Terminal,
LLC
Project,
Series
2020,
7.625%,
12/01/40
12/27
at
103.00
3,196,822
1,000
West
Virginia
Economic
Development
Authority,
Solid
Waste
Disposal
Facilities
Revenue
Bonds,
Arch
Resources
Project,
Series
2021,
4.125%,
7/01/45,
(AMT),
(Mandatory
Put
7/01/25)
1/25
at
100.00
999,392
1,035
West
Virginia
Hospital
Finance
Authority,
Revenue
Bonds,
West
Virginia
University
Health
System,
Improvement
Series
2023A,
5.000%,
6/01/41
6/33
at
100.00
1,120,024
TOTAL
WEST
VIRGINIA
5,530,855
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
20
NDMO
Principal
Amount
(000)
Description
(a)
Optional
Call
Provisions
(b)
Value
WISCONSIN
-
5.5%
(4.1%
of
Total
Investments)
$
3,000
(c)
Gillett,
Wisconsin,
Solid
Waste
Disposal
Revenue
Bonds,
WI
RNG
Hub
North
LLC
Renewable
Natural
Gas
Production
Plant
Project,
Series
2021A,
5.500%,
12/01/32
12/26
at
100.00
$
2,626,033
6,350
(c)
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
Freedom
Classical
Academy
Inc.,
Series
2020A,
5.000%,
1/01/56
1/28
at
100.00
5,694,769
390
Public
Finance
Authority
of
Wisconsin,
Charter
School
Revenue
Bonds,
North
East
Carolina
Preparatory
School
Project,
Refunding
Series
2024A,
5.000%,
6/15/44
6/32
at
100.00
396,407
200
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
Shining
Rock
Classical
Academy,
Series
2022A,
6.125%,
6/15/57
6/29
at
101.00
199,842
1,000
(c)
Public
Finance
Authority
of
Wisconsin,
Education
Revenue
Bonds,
The
Capitol
Encore
Academy,
Series
2021A,
5.000%,
6/01/56
6/28
at
100.00
877,800
1,000
(c)
Public
Finance
Authority
of
Wisconsin,
Educational
Facility
Revenue
Bonds,
LEAD
Academy
Project,
Series
2021,
5.000%,
8/01/51
8/28
at
100.00
868,309
2,000
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Senior
Lien
Series
2022A,
5.000%,
2/01/52
2/32
at
100.00
2,050,772
Public
Finance
Authority
of
Wisconsin,
Hotel
Revenue
Bonds,
Grand
Hyatt
San
Antonio
Hotel
Acquisition
Project,
Subordinate
Lien
Series
2022B
:
1,670
(c)
5.625%,
2/01/46
2/32
at
100.00
1,732,355
2,000
(c)
6.000%,
2/01/62
2/32
at
100.00
2,106,406
5,000
(c)
Public
Finance
Authority
of
Wisconsin,
Limited
Obligation
PILOT
Revenue
Bonds,
American
Dream
@
Meadowlands
Project,
Series
2017,
7.000%,
12/01/50
12/27
at
100.00
5,000,798
3,000
(c)
Public
Finance
Authority
of
Wisconsin,
Multifamily
Housing
Revenue
Bonds,
Promenade
Apartments
Project,
Series
2024,
6.250%,
2/01/39
2/29
at
103.00
3,114,324
1,000
Public
Finance
Authority
of
Wisconsin,
Pollution
Control
Revenue
Bonds,
Duke
Energy
Progress
Project,
Refunding
Series
2022B,
4.000%,
10/01/46,
(Mandatory
Put
10/01/30)
No
Opt.
Call
1,009,201
1,025
(c)
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Revolution
Academy,
Refunding
Series
2023A,
6.250%,
10/01/58
10/31
at
100.00
1,074,877
2,000
Public
Finance
Authority
of
Wisconsin,
Revenue
Bonds,
Sky
Harbour
LLC
Obligated
Group
Aviation
Facilities
Project,
Series
2021,
4.000%,
7/01/41,
(AMT)
7/31
at
100.00
1,695,393
100
(d),(f)
Public
Finance
Authority
of
Wisconsin,
Wisconsin
Revenue
Note,
KDC
Agribusiness
LLC
Project,
Series
2022B,
15.000%,
3/31/24
4/23
at
105.00
10
500
(c)
Public
Finance
Authority,
Wiscconsin,
Tax
Increment,
Revenue
Subordinate
Bonds,
Miami,
Miami
World
Center
Project,
Series
2024B,
8.000%,
6/15/42
6/29
at
103.00
502,061
1,000
(c)
Public
Finance
Authority,
Wisconsin,
Tax
Increment,
Revenue
Senior
Bonds,
Miami,
Miami
World
Center
Project,
Series
2024A,
5.000%,
6/01/41
6/29
at
103.00
1,014,585
3,670
University
of
Wisconsin
Hospitals
and
Clinics
Authority,
Revenue
Bonds,
Sustainability
Series
2002B,
5.000%,
4/01/54,
(Mandatory
Put
10/01/31)
10/30
at
101.61
4,067,958
150
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Dickson
Hollow
Phase
2
Project,
Series
2024,
5.450%,
10/01/39
10/32
at
102.00
154,474
2,500
Wisconsin
Health
and
Educational
Facilities
Authority,
Wisconsin,
Revenue
Bonds,
Froedtert
Health,
Inc.
Obligated
Group,
Series
2017A,
4.000%,
4/01/39
4/27
at
100.00
2,490,419
TOTAL
WISCONSIN
36,676,793
TOTAL
MUNICIPAL
BONDS
(cost
$899,189,117)
888,834,907
21
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
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.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
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
management’s
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).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Principal
Amount
(000)
Description
(a)
Coupon
Maturity
Value
X
–
CORPORATE
BONDS
-
1
.9
%
(
1
.4
%
of
Total
Investments)
X
12,440,535
CONSUMER
SERVICES
-
0.4%
(0.3%
of
Total
Investments)
$
2,500
Grand
Canyon
University
4.125%
10/01/24
$
2,472,696
TOTAL
CONSUMER
SERVICES
2,472,696
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
1.4%
(1.1%
of
Total
Investments)
2,750
Care
New
England
Health
System
5.500%
9/01/26
2,661,588
4,363
Toledo
Hospital/The
5.325%
11/15/28
4,213,829
3,000
Toledo
Hospital/The
6.015%
11/15/48
2,647,590
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
9,523,007
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
0.1%
(0.0%
of
Total
Investments)
490
(c),(f)
Benloch
Ranch
Improvement
Association
No
12022
9.750%
12/01/39
444,832
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
444,832
TOTAL
CORPORATE
BONDS
(cost
$11,298,979)
12,440,535
Principal
Amount
(000)
Description
(a)
Coupon
(h)
Reference
Rate
(h)
Spread
(h)
Maturity
(i)
Value
X
–
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
-
0
.0
%
(
0
.0
%
of
Total
Investments)
(h)
X
13
CAPITAL
GOODS
-
0.0%
(0.0%
of
Total
Investments)
$
129
(d),(f),(j)
KDC
Agribusiness
Fairless
Hills
LLC
12.000%
N/A
N/A
9/17/24
$
13
TOTAL
CAPITAL
GOODS
13
TOTAL
VARIABLE
RATE
SENIOR
LOAN
INTERESTS
(cost
$128,676)
13
TOTAL
LONG-TERM
INVESTMENTS
(cost
$910,616,772)
901,275,455
FLOATING
RATE
OBLIGATIONS
-
(4.2)%
(
28,135,000
)
MFP
SHARES,
NET
-
(35.9)%(k)
(
239,645,005
)
OTHER
ASSETS
&
LIABILITIES,
NET
-  5.2%
34,590,212
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
668,085,662
Nuveen
Dynamic
Municipal
Opportiunities
Fund
(continued)
Portfolio
of
Investments
July
31,
2024
(Unaudited)
22
NDMO
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Municipal
Bonds
$
–
$
888,834,767
$
140
$
888,834,907
Corporate
Bonds
–
11,995,703
444,832
12,440,535
Variable
Rate
Senior
Loan
Interests
–
–
13
13
Total
$
–
$
900,830,470
$
444,985
$
901,275,455
(a)
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(b)
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.
(c)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$249,843,680
or
27.7%
of
Total
Investments.
(d)
Defaulted
security.
A
security
whose
issuer
has
failed
to
fully
pay
principal
and/or
interest
when
due,
or
is
under
the
protection
of
bankruptcy.
(e)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
inverse
floating
rate
transactions.
(f)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(g)
Principal
Amount
(000)
rounds
to
less
than
$1,000.
(h)
Senior
loans
generally
pay
interest
at
rates
which
are
periodically
adjusted
by
reference
to
a
base
short-term,
floating
lending
rate
(Reference
Rate)
plus
an
assigned
fixed
rate
(Spread).
These
floating
lending
rates
are
generally
(i)
the
lending
rate
referenced
by
the
Secured
Overnight
Financing
Rate
(“SOFR”),
or
(ii)
the
prime
rate
offered
by
one
or
more
major
United
States
banks.
Senior
loans
may
be
considered
restricted
in
that
the
Fund
ordinarily
is
contractually
obligated
to
receive
approval
from
the
agent
bank
and/or
borrower
prior
to
the
disposition
of
a
senior
loan.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(i)
Senior
loans
generally
are
subject
to
mandatory
and/or
optional
prepayment.
Because
of
these
mandatory
prepayment
conditions
and
because
there
may
be
significant
economic
incentives
for
a
borrower
to
prepay,
prepayments
of
senior
loans
may
occur.
As
a
result,
the
actual
remaining
maturity
of
senior
loans
held
may
be
substantially
less
than
the
stated
maturities
shown.
(j)
Senior
loan
received
as
part
of
the
bondholder
funding
agreement
during
June
2023
for
Pennsylvania
Economic
Development
Financing
Authority,
Exempt
Facilities
Revenue
Bonds,
KDC
Agribusiness
Fairless
Hills
LLC
Project,
Series
2021A,
10.000%,
12/01/31.
(k)
MFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
26.6%.
AMT
Alternative
Minimum
Tax
N/A
Not
Applicable.
UB
Underlying
bond
of
an
inverse
floating
rate
trust
reflected
as
a
financing
transaction.
Inverse
floating
rate
trust
is
a
Recourse
Trust
unless
otherwise
noted.
WI/DD
When-issued
or
delayed
delivery
security.
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