Nuveen New York AMT-Free Quality Municipal Income Fund

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21211

Nuveen New York AMT-Free Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

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

Date of fiscal year end: February 28

Date of reporting period: May 31, 2018

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

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

 

 


Item 1. Schedule of Investments

 

 


NRK
Nuveen New York AMT-Free Quality Municipal Income Fund
Portfolio of Investments    as of May 31, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 162.1% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 162.1% (100.0% of Total Investments)        
    Consumer Staples  – 10.7% (6.6% of Total Investments)        
$ 8,000   Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, 1st Subordinate Series 2005B, 0.000%, 6/01/47   8/18 at 100.00 N/R $1,144,720
    Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005A:        
27,580   5.000%, 6/01/38   8/18 at 100.00 BB+ 27,588,274
13,500   5.000%, 6/01/45   8/18 at 100.00 B+ 13,499,190
10,000   Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005C, 0.000%, 6/01/50   8/18 at 100.00 N/R 993,400
1,310   Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26   8/18 at 100.00 B- 1,310,249
26,865   Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35   8/18 at 100.00 B- 26,864,463
4,680   New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2016A. Including 2016A-1, 2016A-2A and 2016A-2B, 5.000%, 6/01/51   6/26 at 100.00 N/R 4,912,502
    TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:        
4,135   5.000%, 6/01/45   6/27 at 100.00 B+ 4,267,981
49,715   5.000%, 6/01/48   6/27 at 100.00 N/R 51,165,684
145,785   Total Consumer Staples       131,746,463
    Education and Civic Organizations – 28.9% (17.9% of Total Investments)        
3,150   Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Refunding Series 2016A, 5.000%, 7/15/42   1/27 at 100.00 BBB- 3,474,009
    Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:        
9,995   0.000%, 7/15/45   No Opt. Call BBB- 3,325,636
29,145   0.000%, 7/15/47   No Opt. Call BBB- 8,890,391
    Build New York City Resource Corporation, New York, Revenue Bonds, Bronx Charter School for Excellence, Series 2013A:        
250   5.000%, 4/01/33   4/23 at 100.00 BBB- 262,875
2,535   5.500%, 4/01/43   4/23 at 100.00 BBB- 2,610,442
    Build New York City Resource Corporation, New York, Revenue Bonds, Metropolitan College of New York, Series 2014:        
1,000   5.250%, 11/01/29   11/24 at 100.00 BB 1,071,760
5,705   5.250%, 11/01/34   11/24 at 100.00 BB 5,999,036
1,500   5.000%, 11/01/39   11/24 at 100.00 BB 1,530,405
1


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Build New York City Resource Corporation, New York, Revenue Bonds, South Bronx Charter School for International Cultures and the Arts Project, Series 2013A:        
$ 2,690   5.000%, 4/15/33   4/23 at 100.00 BB+ $2,786,033
4,090   5.000%, 4/15/43   4/23 at 100.00 BB+ 4,207,015
3,655   Dobbs Ferry Local Development Corporation, New York, Revenue Bonds, Mercy College Project, Series 2014, 5.000%, 7/01/44   7/24 at 100.00 A 4,125,216
4,990   Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2013A, 5.000%, 7/01/44   7/23 at 100.00 A- 5,449,080
1,655   Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2015A, 5.000%, 7/01/37   7/25 at 100.00 A- 1,852,243
4,265   Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007, 5.250%, 7/01/34  –  FGIC Insured   No Opt. Call Baa2 5,057,522
6,000   Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of Medicine, Series 1994A, 5.150%, 7/01/24  –  NPFG Insured   No Opt. Call A- 6,832,440
    Dormitory Authority of the State of New York, Insured Revenue Bonds, Touro College and University System, Series 2014A:        
1,685   5.250%, 1/01/34   7/24 at 100.00 BBB- 1,866,441
2,185   5.500%, 1/01/39   7/24 at 100.00 BBB- 2,433,609
2,820   5.500%, 1/01/44   7/24 at 100.00 BBB- 3,134,317
14,585   Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Refunding Series 2013A, 5.000%, 7/01/27   7/23 at 100.00 Aa3 16,535,598
4,750   Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2011A, 5.000%, 7/01/41   7/21 at 100.00 Aa2 5,125,630
3,750   Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2012A, 5.000%, 7/01/37   7/22 at 100.00 Aa2 4,082,137
    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2015A:        
3,095   5.000%, 7/01/31   7/25 at 100.00 Aa3 3,522,822
3,465   5.000%, 7/01/33   7/25 at 100.00 Aa3 3,913,163
    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2017A:        
2,930   5.000%, 7/01/34   7/27 at 100.00 Aa3 3,412,717
2,000   5.000%, 7/01/36   7/27 at 100.00 Aa3 2,320,840
2,930   5.000%, 7/01/42   7/27 at 100.00 Aa3 3,372,371
    Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A:        
405   5.000%, 7/01/25  –  NPFG Insured   8/18 at 100.00 Baa2 406,130
1,320   5.000%, 7/01/37  –  NPFG Insured   8/18 at 100.00 Baa2 1,323,617
1,000   Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 2011A, 5.000%, 10/01/41   4/21 at 100.00 AAA 1,079,400
2


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Dormitory Authority of the State of New York, Revenue Bonds, Convent of the Sacred Heart, Series 2011:        
$ 1,000   5.625%, 11/01/35  –  AGM Insured   5/21 at 100.00 AA $1,093,890
5,980   5.750%, 11/01/40  –  AGM Insured   5/21 at 100.00 AA 6,555,276
12,970   Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/40   7/25 at 100.00 A- 14,239,244
1,000   Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College, Series 2009, 5.250%, 7/01/29   7/19 at 100.00 Baa2 1,029,510
3,250   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 1998A, 6.000%, 7/01/18  –  NPFG Insured   No Opt. Call Aa2 3,261,115
    Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2001-1:        
1,500   5.500%, 7/01/24  –  AMBAC Insured   No Opt. Call Aa2 1,786,605
4,000   5.500%, 7/01/40  –  AMBAC Insured   No Opt. Call Aa2 5,286,640
    Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2015A:        
9,000   5.000%, 7/01/34   7/25 at 100.00 Aa2 10,299,960
8,955   5.000%, 7/01/45   7/25 at 100.00 Aa2 10,137,597
10,850   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2016A, 5.000%, 7/01/32   7/26 at 100.00 Aa2 12,701,010
    Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2017A:        
4,000   5.000%, 7/01/38   7/27 at 100.00 Aa2 4,662,480
5,620   5.000%, 7/01/39   7/27 at 100.00 Aa2 6,541,006
    Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2018A:        
1,500   5.000%, 7/01/40   7/28 at 100.00 Aa2 1,767,720
9,675   5.000%, 7/01/48   7/28 at 100.00 Aa2 11,328,167
2,800   Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2008C, 5.000%, 7/01/37   7/20 at 100.00 Aa1 2,963,996
    Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2010A:        
5,000   5.000%, 7/01/35   7/20 at 100.00 Aa1 5,298,050
11,560   5.000%, 7/01/40   7/20 at 100.00 Aa1 12,222,504
    Dormitory Authority of the State of New York, Revenue Bonds, Pratt Institute, Series 2015A:        
800   5.000%, 7/01/39   7/24 at 100.00 A3 879,840
1,500   5.000%, 7/01/44   7/24 at 100.00 A3 1,641,030
    Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of Technology, Series 2006A:        
2,500   5.250%, 7/01/20  –  AMBAC Insured   No Opt. Call A1 2,674,325
2,000   5.250%, 7/01/21  –  AMBAC Insured   No Opt. Call A1 2,197,920
3


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Dormitory Authority of the State of New York, Revenue Bonds, Saint Joseph's College, Series 2010:        
$ 1,815   5.250%, 7/01/25   8/18 at 100.00 Ba1 $1,818,557
2,000   5.250%, 7/01/35   7/20 at 100.00 Ba1 2,056,940
8,925   Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics & Technology, Series 2016A, 5.500%, 12/01/36, 144A   12/26 at 100.00 BB- 9,027,459
1,000   Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College Project, Series 2013A, 5.000%, 7/01/39   7/23 at 100.00 A2 1,097,430
7,695   Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4)   1/34 at 100.00 N/R 6,474,881
    Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University Project, Series 2013:        
1,785   5.000%, 9/01/38   9/23 at 100.00 A- 1,949,648
1,785   5.000%, 9/01/43   9/23 at 100.00 A- 1,943,329
1,400   Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint John Fisher College, Series 2014A, 5.500%, 6/01/39   6/24 at 100.00 A- 1,597,232
    New Rochelle Corporation, New York, Local Development Revenue Bonds, Iona College Project, Series 2015A:        
325   5.000%, 7/01/40   7/25 at 100.00 BBB 350,870
350   5.000%, 7/01/45   7/25 at 100.00 BBB 376,058
    New York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds, Queens Baseball Stadium Project, Series 2009:        
1,000   6.125%, 1/01/29  –  AGC Insured   1/19 at 100.00 AA 1,025,610
1,000   6.375%, 1/01/39  –  AGC Insured   1/19 at 100.00 AA 1,025,340
    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006:        
6,815   5.000%, 1/01/31  –  AMBAC Insured   8/18 at 100.00 BBB 6,832,106
5,000   5.000%, 1/01/36  –  AMBAC Insured   8/18 at 100.00 BBB 5,012,450
1,030   4.750%, 1/01/42  –  AMBAC Insured   8/18 at 100.00 BBB 1,030,680
14,500   5.000%, 1/01/46  –  AMBAC Insured   7/18 at 100.00 BBB 14,696,330
4,730   New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49  –  AGC Insured   3/19 at 100.00 AA 4,908,794
    New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006:        
4,280   5.000%, 3/01/31  –  FGIC Insured   8/18 at 100.00 Baa1 4,309,917
31,650   5.000%, 3/01/36  –  NPFG Insured   8/18 at 100.00 Baa1 31,706,970
20,210   4.500%, 3/01/39  –  FGIC Insured   8/18 at 100.00 Baa1 20,227,583
3,400   New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of American Art, Series 2011, 5.000%, 7/01/31   1/21 at 100.00 AA 3,625,556
4


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Niagara Area Development Corporation, New York, Niagara University Project, Series 2012A:        
$ 600   5.000%, 5/01/35   5/22 at 100.00 BBB+ $652,704
1,000   5.000%, 5/01/42   5/22 at 100.00 BBB+ 1,081,660
1,450   Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project, Series 2012, 5.000%, 7/01/42   7/22 at 100.00 Baa2 1,539,828
1,000   Onondaga County Trust For Cultural Resources, New York, Revenue Bonds, Syracuse University Project, Series 2011, 5.000%, 12/01/36   12/21 at 100.00 AA- 1,087,630
3,700   Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010A, 5.125%, 9/01/40   9/20 at 100.00 A3 3,879,746
361,450   Total Education and Civic Organizations       357,906,088
    Financials – 1.6% (1.0% of Total Investments)        
1,615   New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, Series 2005, 5.250%, 10/01/35   No Opt. Call A 2,030,410
13,835   New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, Series 2007, 5.500%, 10/01/37   No Opt. Call A 17,925,318
15,450   Total Financials       19,955,728
    Health Care – 3.1% (1.9% of Total Investments)        
1,250   Build New York City Resource Corporation, New York, Revenue Bonds, New York Methodist Hospital Project, Refunding Series 2014, 5.000%, 7/01/27   7/24 at 100.00 A3 1,399,650
    Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017:        
1,000   5.000%, 12/01/34, 144A   6/27 at 100.00 BBB- 1,095,460
300   5.000%, 12/01/36, 144A   6/27 at 100.00 BBB- 326,724
900   Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems Inc., Series 2010A, 5.750%, 7/01/40  –  AGM Insured   7/20 at 100.00 A- 975,528
7,940   Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B, 5.000%, 7/01/46   7/26 at 100.00 A- 8,818,481
1,875   Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.750%, 8/15/35   2/21 at 100.00 AA 2,067,000
3,900   Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2013A, 5.000%, 12/01/42   12/22 at 100.00 A- 4,183,101
2,800   Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2017, 5.000%, 12/01/46   12/26 at 100.00 A- 3,099,712
5,585   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28   7/21 at 100.00 A- 6,040,457
565   Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 2010-C2, 6.125%, 11/01/37   11/20 at 100.00 BBB 613,398
2,260   Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Refunding Series 2016, 5.000%, 11/01/46   11/25 at 100.00 BBB 2,418,539
5


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Health Care (continued)        
$ 5,515   Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001A, 7.125%, 7/01/31   7/18 at 100.00 BB- $5,518,695
1,955   Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001B, 7.125%, 7/01/31   8/18 at 100.00 BB- 1,956,310
35,845   Total Health Care       38,513,055
    Housing/Multifamily – 0.1% (0.1% of Total Investments)        
1,040   New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2010D-1A, 5.000%, 11/01/42   5/20 at 100.00 AA+ 1,093,508
450   New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B, 4.500%, 11/01/29   5/19 at 100.00 Aa2 455,711
10   New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, Series 1996A, 6.125%, 11/01/20  –  AGM Insured   11/18 at 100.00 AA 10,026
1,500   Total Housing/Multifamily       1,559,245
    Industrials – 3.3% (2.0% of Total Investments)        
38,030   New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A   11/24 at 100.00 N/R 40,438,060
    Long-Term Care – 0.1% (0.1% of Total Investments)        
1,225   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At Southold, Inc. Project, Refunding Series 2010, 6.000%, 12/01/40   12/20 at 100.00 BBB- 1,319,019
    Tax Obligation/General – 11.4% (7.0% of Total Investments)        
    Nassau County, New York, General Obligation Bonds, General Improvement Series 2016B:        
6,955   5.000%, 10/01/27   10/26 at 100.00 A+ 8,128,934
4,590   5.000%, 10/01/28   10/26 at 100.00 A+ 5,342,485
5,030   Nassau County, New York, General Obligation Bonds, General Improvement Series 2016C, 5.000%, 4/01/33   4/26 at 100.00 A+ 5,726,806
    Nassau County, New York, General Obligation Bonds, General Improvement Series, Refunding 2016A:        
5,860   5.000%, 1/01/31   1/26 at 100.00 A+ 6,695,636
500   5.000%, 1/01/38   1/26 at 100.00 A+ 561,895
1,200   New York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28   8/19 at 100.00 AA 1,244,076
    New York City, New York, General Obligation Bonds, Fiscal 2012 Series A-1:        
6,085   5.000%, 10/01/31   10/22 at 100.00 AA 6,746,926
1,000   5.000%, 10/01/33   10/22 at 100.00 AA 1,106,170
1,570   5.000%, 10/01/34   10/22 at 100.00 AA 1,734,646
8,665   New York City, New York, General Obligation Bonds, Fiscal 2012 Series B, 5.000%, 8/01/30   8/22 at 100.00 AA 9,587,476
6


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General (continued)        
    New York City, New York, General Obligation Bonds, Fiscal 2012 Series I:        
$ 1,000   5.000%, 8/01/30   8/22 at 100.00 AA $1,106,460
2,000   5.000%, 8/01/31   8/22 at 100.00 AA 2,209,580
    New York City, New York, General Obligation Bonds, Fiscal 2013 Series F-1:        
5,000   5.000%, 3/01/29   3/23 at 100.00 AA 5,588,700
3,400   5.000%, 3/01/31   3/23 at 100.00 AA 3,787,396
2,190   5.000%, 3/01/32   3/23 at 100.00 AA 2,436,397
1,000   5.000%, 3/01/33   3/23 at 100.00 AA 1,111,090
3,735   New York City, New York, General Obligation Bonds, Fiscal 2014 Series A-1, 5.000%, 8/01/26   8/23 at 100.00 AA 4,228,580
8,000   New York City, New York, General Obligation Bonds, Fiscal 2014 Series D-1, 5.000%, 8/01/30   8/23 at 100.00 AA 9,003,280
7,665   New York City, New York, General Obligation Bonds, Fiscal 2015 Series A, 5.000%, 8/01/33   8/24 at 100.00 AA 8,691,343
12,600   New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41   12/26 at 100.00 AA 14,466,564
    New York City, New York, General Obligation Bonds, Fiscal 2018 Series E-1:        
7,560   5.250%, 3/01/35   3/28 at 100.00 AA 9,058,014
3,580   5.000%, 3/01/39   3/28 at 100.00 AA 4,177,502
7,500   5.000%, 3/01/40   3/28 at 100.00 AA 8,744,850
5   New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/20  –  AGM Insured   8/18 at 100.00 AA 5,014
    New York City, New York, General Obligation Bonds, Series 2011D-I:        
2,785   5.000%, 10/01/30   10/21 at 100.00 AA 3,036,430
2,880   5.000%, 10/01/34   10/21 at 100.00 AA 3,129,379
3,345   New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012, 5.000%, 4/01/28   4/22 at 100.00 AA 3,680,236
    Rensselaer County, New York, General Obligation Bonds, Series 1991:        
960   6.700%, 2/15/19  –  AMBAC Insured   No Opt. Call AA 992,890
960   6.700%, 2/15/20  –  AMBAC Insured   No Opt. Call AA 1,036,906
747   6.700%, 2/15/21  –  AMBAC Insured   No Opt. Call AA 842,287
    Rochester, New York, General Obligation Bonds, Series 1999:        
735   5.250%, 10/01/20  –  NPFG Insured   No Opt. Call AA- 792,815
735   5.250%, 10/01/21  –  NPFG Insured   No Opt. Call AA- 814,204
730   5.250%, 10/01/22  –  NPFG Insured   No Opt. Call AA- 828,134
730   5.250%, 10/01/23  –  NPFG Insured   No Opt. Call AA- 846,851
730   5.250%, 10/01/24  –  NPFG Insured   No Opt. Call AA- 860,772
730   5.250%, 10/01/25  –  NPFG Insured   No Opt. Call AA- 873,839
725   5.250%, 10/01/26  –  NPFG Insured   No Opt. Call AA- 878,229
7


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General (continued)        
$ 1,145   Three Village Central School District, Brookhaven and Smithtown, Suffolk County, New York, General Obligation Bonds, Refunding Series 2005, 5.000%, 6/01/18  –  FGIC Insured   No Opt. Call Aa2 $ 1,145,000
124,627   Total Tax Obligation/General       141,247,792
    Tax Obligation/Limited – 41.9% (25.8% of Total Investments)        
7,000   Dormitory Authority of the State of New York State Personal Income tax Revenue Bonds (General Purpose), Series 2017A, 5.000%, 2/15/37   2/27 at 100.00 AAA 8,076,040
105   Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2009A, 5.625%, 10/01/29  –  AGC Insured   10/19 at 100.00 AA 110,119
335   Dormitory Authority of the State of New York, Revenue Bonds, State University Educational Facilities, Series 1993A, 5.500%, 5/15/19  –  AMBAC Insured   No Opt. Call Aa2 347,100
940   Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue Bonds, City University System, Series 1993A, 5.750%, 7/01/18  –  AGM Insured   No Opt. Call AA 943,130
    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2011C:        
995   5.000%, 3/15/34   3/21 at 100.00 AAA 1,069,993
24,000   5.000%, 3/15/41   3/21 at 100.00 AAA 25,748,400
    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012D:        
7,550   5.000%, 2/15/33   2/22 at 100.00 AAA 8,262,720
10,000   5.000%, 2/15/40   2/22 at 100.00 AAA 10,899,500
    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014A:        
5,000   5.000%, 2/15/29   2/24 at 100.00 AAA 5,673,950
10,000   5.000%, 2/15/30   2/24 at 100.00 AAA 11,330,800
7,000   Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014C, Group C, 5.000%, 3/15/44   3/24 at 100.00 AAA 7,788,690
    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2015A:        
1,500   5.000%, 3/15/31   3/25 at 100.00 AAA 1,718,400
2,500   5.000%, 3/15/33   3/25 at 100.00 AAA 2,855,675
28,280   Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2013A, 5.000%, 3/15/43   3/23 at 100.00 AAA 31,405,506
3,000   Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2014A, 5.000%, 3/15/34   3/24 at 100.00 AAA 3,394,320
12,045   Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B. Group A,B&C, 5.000%, 3/15/36   9/25 at 100.00 AAA 13,753,342
10,000   Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2018A, 4.000%, 3/15/46   3/28 at 100.00 AAA 10,495,300
1,080   Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District, Refunding Series 2013A, 5.000%, 5/01/28   5/23 at 100.00 AA 1,215,659
8


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
    Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D:        
$ 5,045   5.000%, 11/15/27   11/25 at 100.00 A $5,513,025
6,770   5.000%, 11/15/34   11/25 at 100.00 A 7,202,129
29,200   Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A, 5.000%, 2/15/42   2/27 at 100.00 Aa3 33,471,668
    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:        
8,770   5.750%, 2/15/47   2/21 at 100.00 AA- 9,527,728
5,735   5.250%, 2/15/47   2/21 at 100.00 AA- 6,163,863
1,765   5.000%, 2/15/47  –  AGM Insured   2/21 at 100.00 AA 1,874,589
    Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, Series 2002A:        
1,000   5.750%, 7/01/18  –  AGM Insured   No Opt. Call AA 1,003,240
9,000   5.750%, 7/01/18  –  AGM Insured (UB)   No Opt. Call AA 9,029,160
3,675   Monroe County Industrial Development Agency, New York, School Facility Revenue Bonds, Rochester Schools Modernization Project, Series 2013, 5.000%, 5/01/28   5/23 at 100.00 AA 4,125,739
    New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-1:        
5,400   5.000%, 7/15/33   1/25 at 100.00 AA 6,116,040
5,360   5.000%, 7/15/43   1/25 at 100.00 AA 6,002,021
11,000   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2, 5.000%, 7/15/40   7/25 at 100.00 AA 12,429,670
7,500   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2016S-1, 4.000%, 7/15/40   1/26 at 100.00 AA 7,830,150
    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2012 Series E-1:        
6,225   5.000%, 2/01/37   2/22 at 100.00 AAA 6,781,577
24,155   5.000%, 2/01/42   2/22 at 100.00 AAA 26,261,558
32,500   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2012 Series F-1, 5.000%, 5/01/39   5/22 at 100.00 AAA 35,557,600
5,100   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series F-1, 5.000%, 2/01/29   2/23 at 100.00 AAA 5,707,206
13,530   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2014 Series D-1, 5.000%, 2/01/37   2/24 at 100.00 AAA 15,107,192
    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2015 Series B-1:        
5,000   5.000%, 8/01/33   8/24 at 100.00 AAA 5,681,700
3,960   5.000%, 8/01/35   8/24 at 100.00 AAA 4,475,830
9,325   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series A-1, 4.000%, 5/01/42   5/26 at 100.00 AAA 9,723,084
1,375   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series E-1, 5.000%, 2/01/35   2/27 at 100.00 AAA 1,592,360
9


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$ 3,530   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series F-1, 5.000%, 5/01/42   5/27 at 100.00 AAA $4,066,313
    New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011C:        
5,645   5.500%, 11/01/35   11/20 at 100.00 AAA 6,126,631
1,000   5.000%, 11/01/39   11/20 at 100.00 AAA 1,065,310
8,490   New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Series 2011-D1, 5.000%, 2/01/35   2/21 at 100.00 AAA 9,077,593
    New York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A:        
18,575   5.750%, 4/01/33  –  AGM Insured   4/21 at 100.00 Aa3 20,403,150
4,000   5.750%, 4/01/41   4/21 at 100.00 AA- 4,374,080
28,795   New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B, 5.500%, 4/01/20  –  AMBAC Insured   No Opt. Call AA+ 30,757,667
    New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2010A:        
1,600   5.000%, 3/15/29   9/20 at 100.00 AAA 1,711,248
1,945   5.000%, 3/15/30   9/20 at 100.00 AAA 2,079,341
3,735   New York State Urban Development Corporation, Revenue Refunding Bonds, State Facilities, Series 1995, 5.700%, 4/01/20  –  AGM Insured (UB) (5)   No Opt. Call AA 3,921,638
12,070   New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, General Purpose Series 2013C, 5.000%, 3/15/32   3/23 at 100.00 AAA 13,502,105
    Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:        
3,890   0.000%, 8/01/41  –  NPFG Insured   No Opt. Call Baa2 1,034,896
13,520   0.000%, 8/01/42  –  FGIC Insured   No Opt. Call Baa2 3,398,658
10,000   0.000%, 8/01/44  –  NPFG Insured   No Opt. Call Baa2 2,243,600
19,900   0.000%, 8/01/45  –  NPFG Insured   No Opt. Call Baa2 4,227,556
201,690   0.000%, 8/01/46  –  NPFG Insured   No Opt. Call Baa2 40,569,943
360   Suffolk County Industrial Development Agency, New York, Revenue Bonds, Hampton Bays Public Library, Series 1999A, 6.000%, 10/01/19  –  NPFG Insured   10/18 at 100.00 Baa2 360,983
2,730   Suffolk County Judicial Facilities Agency, New York, Lease Revenue Bonds, H. Lee Dennison Building, Series 2013, 5.000%, 11/01/33   11/23 at 100.00 BBB+ 2,958,091
674,195   Total Tax Obligation/Limited       518,144,576
    Transportation – 17.3% (10.7% of Total Investments)        
4,910   Buffalo and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds, Series 2017, 5.000%, 1/01/47   1/27 at 100.00 A+ 5,595,731
10,000   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Series 2016A-1, 5.000%, 11/15/46   5/26 at 100.00 AA- 11,239,200
    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Series 2016B:        
1,815   4.000%, 11/15/34   11/26 at 100.00 AA- 1,898,417
4,000   5.000%, 11/15/35   11/26 at 100.00 AA- 4,573,720
10


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Transportation (continued)        
$ 13,950   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/30   11/22 at 100.00 AA- $15,446,277
    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E:        
1,785   5.000%, 11/15/32   11/23 at 100.00 AA- 1,982,100
10,000   5.000%, 11/15/38   11/23 at 100.00 AA- 11,029,800
9,370   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B, 5.250%, 11/15/35   5/24 at 100.00 AA- 10,652,472
2,700   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2015A-1, 5.000%, 11/15/45   5/25 at 100.00 AA- 2,995,218
2,570   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 5.000%, 11/15/34   11/26 at 100.00 AA- 2,946,865
8,055   New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44   11/21 at 100.00 A+ 8,688,365
    New York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2016A:        
2,000   5.000%, 1/01/36   1/26 at 100.00 A- 2,260,520
7,500   5.000%, 1/01/41   1/26 at 100.00 A- 8,455,350
1,285   5.000%, 1/01/46   1/26 at 100.00 A- 1,444,070
19,230   5.000%, 1/01/51   1/26 at 100.00 A- 21,555,292
2,350   4.000%, 1/01/56   1/26 at 100.00 A- 2,414,930
5,000   5.250%, 1/01/56   1/26 at 100.00 A- 5,688,150
    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Forth Series 2014:        
2,100   5.000%, 9/01/33   9/24 at 100.00 AA- 2,397,675
3,950   5.000%, 9/01/34   9/24 at 100.00 AA- 4,500,116
1,000   5.000%, 9/01/35   9/24 at 100.00 AA- 1,137,420
5,155   5.000%, 9/01/36   9/24 at 100.00 AA- 5,853,812
9,755   5.000%, 9/01/39   9/24 at 100.00 AA- 11,041,392
    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Ninth Series 2015:        
2,835   5.000%, 5/01/31   5/25 at 100.00 AA- 3,264,588
3,595   5.000%, 5/01/35   5/25 at 100.00 AA- 4,093,411
10,780   5.000%, 5/01/45   5/25 at 100.00 AA- 12,115,965
9,000   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Ninety-Fourth Series 2015, 5.250%, 10/15/55   10/25 at 100.00 AA- 10,303,110
2,000   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/43   12/23 at 100.00 AA- 2,238,740
    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Ninth Series 2018:        
1,500   5.000%, 7/15/36   7/28 at 100.00 AA- 1,770,030
1,200   5.000%, 7/15/37   7/28 at 100.00 AA- 1,414,884
1,000   5.000%, 7/15/38   7/28 at 100.00 AA- 1,178,110
11


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Transportation (continued)        
$ 2,500   Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.500%, 12/01/28   8/18 at 100.00 Baa1 $2,618,025
2,000   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2017A, 5.000%, 11/15/37   5/27 at 100.00 AA- 2,330,580
    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2018A:        
18,755   5.000%, 11/15/46   5/28 at 100.00 AA- 21,942,412
1,515   4.000%, 11/15/48   5/28 at 100.00 AA- 1,585,932
5,480   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2002E, 5.500%, 11/15/20  –  NPFG Insured   No Opt. Call A+ 5,956,376
190,640   Total Transportation       214,609,055
    U.S. Guaranteed – 15.8% (9.7% of Total Investments) (6)        
5,315   Albany Capital Resource Corporation, New York, St. Peter's Hospital Project, Series 2011, 6.125%, 11/15/30 (Pre-refunded 11/15/20)   11/20 at 100.00 N/R 5,844,055
    Canton Capital Resource Corporation, New York, Student Housing Facility Revenue Bonds, Grasse River LLC at SUNY Canton Project Series 2010A:        
1,000   5.000%, 5/01/40 (Pre-refunded 5/01/20)   5/20 at 100.00 AA 1,060,140
1,000   5.000%, 5/01/45 (Pre-refunded 5/01/20)  –  AGM Insured   5/20 at 100.00 AA 1,060,140
2,455   Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34 (Pre-refunded 8/15/19)   8/19 at 100.00 AA+ 2,587,349
6,215   Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2009A, 5.000%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 Aa2 6,434,514
1,000   Dormitory Authority of the State of New York, Master BOCES Program Lease Revenue Bonds, Nassau County Board of Cooperative Educational Services, Series 2009, 5.000%, 8/15/28 (Pre-refunded 8/15/19)  –  AGC Insured   8/19 at 100.00 AA 1,039,770
    Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group Revenue Bonds, Series 2008:        
4,475   6.500%, 12/01/21 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 4,581,729
6,780   6.125%, 12/01/29 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 6,930,991
14,770   6.250%, 12/01/37 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 15,107,938
3,000   Dormitory Authority of the State of New York, Revenue Bonds, Fordham University, Series 2008B, 5.000%, 7/01/38 (Pre-refunded 7/01/18)  –  AGC Insured   7/18 at 100.00 A2 3,007,830
875   Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20)   7/20 at 100.00 A- 934,535
    Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2009A:        
10,000   5.250%, 7/01/34 (Pre-refunded 7/01/19)   7/19 at 100.00 Aa2 10,379,700
3,890   5.000%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 Aa2 4,027,395
13,500   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2009B, 5.000%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 Aa2 13,976,820
4,000   Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2011A, 5.000%, 5/01/41 (Pre-refunded 5/01/21)   5/21 at 100.00 A 4,353,920
12


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed (6) (continued)        
$ 895   Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2009A, 5.625%, 10/01/29 (Pre-refunded 10/01/19)  –  AGC Insured   10/19 at 100.00 AA $941,289
10,125   Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District Project, Series 2009A, 5.000%, 5/01/31 (Pre-refunded 5/01/19)   5/19 at 100.00 AA 10,435,027
3,000   Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 (Pre-refunded 10/01/20)  –  AGM Insured   10/20 at 100.00 AA 3,213,300
    Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A:        
14,260   5.750%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 15,712,238
265   5.250%, 2/15/47 (Pre-refunded 2/15/21)   2/21 at 100.00 Aa3 288,519
85   5.000%, 2/15/47 (Pre-refunded 2/15/21)  –  AGM Insured   2/21 at 100.00 AA 91,987
3,310   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%, 5/01/33 (Pre-refunded 5/01/19)  –  BHAC Insured   5/19 at 100.00 AA+ 3,424,658
5,000   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/38 (Pre-refunded 5/01/21)   5/21 at 100.00 A- 5,442,400
27,285   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D, 5.250%, 11/15/40 (Pre-refunded 11/15/20)   11/20 at 100.00 AA- 29,535,194
6,090   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013B, 5.000%, 11/15/30 (Pre-refunded 5/15/23)   5/23 at 100.00 AA- 6,964,950
480   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013C, 5.000%, 11/15/32 (Pre-refunded 5/15/23)   5/23 at 100.00 AA- 548,962
1,900   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013D, 5.250%, 11/15/30 (Pre-refunded 11/15/23)   11/23 at 100.00 AA- 2,220,378
14,000   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E, 5.000%, 11/15/31 (Pre-refunded 11/15/23)   11/23 at 100.00 AA- 16,180,780
    Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C:        
985   5.000%, 10/01/29 (Pre-refunded 10/01/19)  –  AGC Insured   10/19 at 100.00 AA 1,026,587
15   5.000%, 10/01/29 (Pre-refunded 10/01/19)  –  AGC Insured   10/19 at 100.00 AA 15,644
4,355   New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011C, 5.500%, 11/01/35 (Pre-refunded 11/01/20)   11/20 at 100.00 N/R 4,717,989
955   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 (Pre-refunded 7/01/21)   7/21 at 100.00 N/R 1,042,411
    Tompkins County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011:        
1,390   5.500%, 7/01/33 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 1,514,780
1,000   5.250%, 7/01/36 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 1,083,520
4,000   5.375%, 7/01/41 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 4,346,600
4,485   Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 2010-C2, 6.125%, 11/01/37 (Pre-refunded 11/01/20)   11/20 at 100.00 N/R 4,930,047
182,155   Total U.S. Guaranteed       195,004,086
13


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Utilities – 11.9% (7.3% of Total Investments)        
$ 2,450   Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42   2/20 at 100.00 Baa3 $2,548,466
1,045   Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34   10/22 at 100.00 BBB 1,110,375
    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A:        
8,000   0.000%, 6/01/24  –  AGM Insured   No Opt. Call AA 6,828,560
8,000   0.000%, 6/01/25  –  AGM Insured   No Opt. Call AA 6,595,680
20,000   0.000%, 6/01/26  –  AGM Insured   No Opt. Call AA 15,876,600
10,000   0.000%, 6/01/27  –  AGM Insured   No Opt. Call AA 7,644,200
15,000   0.000%, 6/01/28  –  AGM Insured   No Opt. Call AA 10,976,550
10,000   0.000%, 6/01/29  –  AGM Insured   No Opt. Call AA 7,023,800
2,590   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/44   9/24 at 100.00 A- 2,878,060
5,520   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2017, 5.000%, 9/01/42   9/27 at 100.00 A- 6,328,238
6,500   Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012B, 4.000%, 11/01/24, 144A   8/18 at 100.00 BB+ 6,503,445
9,000   Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015, 5.000%, 12/15/32   12/25 at 100.00 AAA 10,455,210
    Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE:        
9,500   5.000%, 12/15/32   12/23 at 100.00 AAA 10,761,505
22,290   5.000%, 12/15/41   12/23 at 100.00 AAA 25,041,255
7,000   Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2016A, 5.000%, 12/15/35   6/26 at 100.00 AAA 8,144,360
    Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2016B:        
3,750   5.000%, 12/15/33   6/26 at 100.00 AAA 4,389,562
3,575   5.000%, 12/15/34   6/26 at 100.00 AAA 4,167,842
3,275   5.000%, 12/15/35   6/26 at 100.00 AAA 3,810,397
5,000   Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2017, 5.000%, 12/15/40   12/27 at 100.00 AAA 5,873,350
152,495   Total Utilities       146,957,455
    Water and Sewer – 16.0% (9.9% of Total Investments)        
5,160   New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44   12/21 at 100.00 AA+ 5,595,091
4,085   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2013 Series DD, 5.000%, 6/15/35   6/23 at 100.00 AA+ 4,579,285
10,000   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2014 Series DD, 5.000%, 6/15/35   6/24 at 100.00 AA+ 11,283,900
5,000   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series HH, 5.000%, 6/15/39   6/25 at 100.00 AA+ 5,680,450
15,000   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2017 Series CC-1, 5.000%, 6/15/46   6/26 at 100.00 AA+ 17,115,150
14


Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Water and Sewer (continued)        
$ 10,000   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series AA, 5.000%, 6/15/38   6/27 at 100.00 AA+ $11,623,300
25,000   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series DD-1, 5.000%, 6/15/48 (UB)   12/27 at 100.00 AA+ 29,005,250
23,215   New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series EE, 5.000%, 6/15/40   12/27 at 100.00 AA+ 27,080,530
2,580   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Subordinated Series 2014A, 5.000%, 6/15/30   6/24 at 100.00 AAA 2,974,869
3,110   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Subordinated SRF Series 2015A, 5.000%, 6/15/36   6/25 at 100.00 AAA 3,573,825
6,810   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Series 2016A, 5.000%, 6/15/41   6/26 at 100.00 AAA 7,843,690
    New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Subordinated SRF Series 2017E:        
3,500   5.000%, 6/15/47   6/27 at 100.00 AAA 4,059,125
13,500   5.000%, 6/15/47 (UB) (5)   6/27 at 100.00 AAA 15,656,625
22,340   New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Green Series 2014B, 5.000%, 5/15/44   5/24 at 100.00 AAA 25,184,552
5,000   New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Green Series 2016B, 5.000%, 8/15/41   8/26 at 100.00 AAA 5,772,800
3,845   New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Series 2010C, 5.000%, 10/15/35   4/20 at 100.00 AAA 4,053,476
3,095   New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Series 2012B, 5.000%, 2/15/42   2/22 at 100.00 AAA 3,373,395
7,020   Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2015A, 5.250%, 6/01/36   6/25 at 100.00 AAA 8,261,136
2,230   Upper Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue Bonds, Series 2000, 0.000%, 4/01/23  –  AMBAC Insured   No Opt. Call A1 1,984,678
15


NRK Nuveen New York AMT-Free Quality Municipal Income Fund (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Water and Sewer (continued)        
    Water Authority of Western Nassau County, New York, Water System Revenue Bonds, Series 2015A:        
$ 1,325   5.000%, 4/01/40   4/25 at 100.00 AA- $1,467,557
1,950   5.000%, 4/01/45   4/25 at 100.00 AA- 2,148,510
173,765   Total Water and Sewer       198,317,194
$ 2,097,162   Total Long-Term Investments (cost $1,898,100,429)       2,005,717,816
    Floating Rate Obligations – (3.1)%       (38,100,000)
    MuniFund Preferred Shares, net of deferred offering costs – (6.4)% (7)       (79,515,185)
    Variable Rate Demand Preferred Shares, net of deferred offering costs – (53.4)% (8)       (661,058,850)
    Other Assets Less Liabilities – 0.8%       10,397,968
    Net Asset Applicable to Common Shares – 100%       $ 1,237,441,749
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Municipal Bonds $ — $2,005,717,816 $ — $2,005,717,816
16


Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
The table below presents the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of May 31, 2018.
Tax cost of investments $1,858,151,716
Gross unrealized:  
Appreciation $ 113,952,006
Depreciation (4,485,821)
Net unrealized appreciation (depreciation) of investments $ 109,466,185
(1) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.  
(2) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.  
(3) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.  
(4) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.  
(5) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.  
(6) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.  
(7) MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 4.0%  
(8) Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 33.0%.  
144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.  
UB Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
17


Item 2. Controls and Procedures.

 

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

 

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

Item 3. Exhibits.

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

 

 


SIGNATURES

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

 

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

Date: July 30, 2018

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

 

By (Signature and Title)    /s/ Cedric H. Antosiewicz                                                        
   Cedric H. Antosiewicz   
   Chief Administrative Officer (principal executive officer)   
Date: July 30, 2018      
By (Signature and Title)    /s/ Stephen D. Foy                                                                  
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: July 30, 2018