Chairman’s Letter to Shareholders	4
Portfolio Managers’ Comments	5
Fund Leverage	8
Common Share Information	9
Risk Considerations	11
Performance Overview and Holding Summaries	12
Portfolios of Investments	16
Statement of Assets and Liabilities	46
Statement of Operations	47
Statement of Changes in Net Assets	48
Statement of Cash Flows	49
Financial Highlights	50
Notes to Financial Statements	52
Additional Fund Information	64
Glossary of Terms Used in this Report	65
Reinvest Automatically, Easily and Conveniently	67

	NID	NIQ
Effective Leverage*	36.97%	36.89%
Regulatory Leverage*	21.66%	23.73%

*

Effective Leverage is a Fund’s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund’s portfolio that increase the Fund’s investment exposure. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of a Fund. Both of these are part of a Fund’s capital structure. A Fund, however, may from time to time borrow on a typically transient basis in connection with its day-to-day operations, primarily in connection with the need to settle portfolio trades. Such incidental borrowings are excluded from the calculation of a Fund’s effective leverage ratio. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.

						Variable Rate
		Variable Rate				Remarketed
		Preferred*				Preferred**
		Shares				Shares
		Issued at				Issued at
		Liquidation				Liquidation
		Preference				Preference				Total
NID		$	175,000,000			$	—			$	175,000,000
NIQ		$	55,000,000			$	—			$	55,000,000

*	Preferred shares of the Fund featuring a floating rate dividend based on a predetermined formula or spread to an index rate. Includes the following preferred shares AMTP, iMTP, VMTP, MFP-VRM and VRDP in Special Rate Mode, where applicable. See Notes to Financial Statements, Note 4 – Fund Shares, Preferred Shares for further details.
**	Preferred shares of the Fund featuring floating rate dividends set by a remarketing agent via a regular remarketing. Includes the following preferred shares VRDP not in Special Rate Mode, MFP-VRRM and MFP-VRDM, where applicable. See Notes to Financial Statements, Note 4 – Fund Shares, Preferred Shares for further details.

		Per Common
		Share Amounts
Monthly Distributions (Ex-Dividend Date)		NID				NIQ
June 2018		$	0.0425			$	0.0330
July			0.0425				0.0330
August			0.0425				0.0330
September			0.0425				0.0295
October			0.0425				0.0295
November 2018			0.0425				0.0295
Total Distributions from Net Investment Income		$	0.2550			$	0.1875
Yields
Market Yield*			4.12	%			2.89	%
Taxable-Equivalent Yield*			5.42	%			3.80	%

*

Market Yield is based on the Fund’s current annualized monthly dividend divided by the Fund’s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 24.0%. When comparing a Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield would be lower.

	NID	NIQ
Common shares cumulatively repurchased and retired	—	—
Common shares authorized for repurchase	4,690,000	1,310,000

		NID				NIQ
Common share NAV		$	13.49			$	13.50
Common share price		$	12.39			$	12.27
Premium/(Discount) to NAV			(8.15	)%			(9.11	)%
6-month average premium/(discount) to NAV			(8.75	)%			(8.89	)%

NID	Nuveen Intermediate Duration Municipal
	Term Fund
	Performance Overview and Holding Summaries as of
	November 30, 2018

	Cumulative	Average Annual
				Since
	6-Month	1-Year	5-Year	Inception
NID at Common Share NAV	1.00%	2.55%	6.07%	3.71%
NID at Common Share Price	0.61%	(1.32)%	7.39%	1.78%
S&P Intermediate Duration Municipal Yield Index	1.42%	3.86%	4.43%	3.52%
S&P Municipal Bond Index	0.36%	1.16%	3.59%	2.36%

Fund Allocation
(% of net assets)
Long-Term Municipal Bonds	125.4%
Other Assets Less Liabilities	4.0%
Net Assets Plus Floating Rate
Obligations & AMTP Shares,
net of deferred offering costs	129.4%
Floating Rate Obligations	(1.8)%
AMTP Shares, net of deferred
offering costs	(27.6)%
Net Assets	100%

Portfolio Credit Quality
(% of total investment exposure)
U.S. Guaranteed	5.8%
AAA	0.1%
AA	23.3%
A	14.3%
BBB	21.4%
BB or Lower	20.0%
N/R (not rated)	15.1%
Total	100%

Portfolio Composition
(% of total investments)
Tax Obligation/Limited	23.3%
Health Care	11.8%
Tax Obligation/General	9.7%
Transportation	9.5%
Consumer Staples	8.7%
Education and Civic Organizations	8.4%
Utilities	7.8%
Industrials	7.6%
Other	13.2%
Total	100%

States and Territories
(as a % of total investments)
Illinois	17.4%
California	9.4%
Florida	7.2%
Ohio	6.9%
New York	6.1%
New Jersey	5.9%
Pennsylvania	5.6%
Texas	4.3%
Michigan	3.8%
Guam	3.3%
Colorado	3.0%
Indiana	2.5%
Wisconsin	2.4%
Iowa	2.2%
Washington	2.1%
Other	17.9%
Total	100%

NIQ	Nuveen Intermediate Duration Quality
	Municipal Term Fund
	Performance Overview and Holding Summaries as of
	November 30, 2018

	Cumulative	Average Annual
				Since
	6-Month	1-Year	5-Year	Inception
NIQ at Common Share NAV	0.20%	0.62%	4.93%	2.78%
NIQ at Common Share Price	(0.50)%	(1.63)%	5.87%	0.61%
S&P Municipal Bond Intermediate Index	0.72%	1.17%	3.01%	2.35%
S&P Municipal Bond Index	0.36%	1.16%	3.59%	2.55%

Fund Allocation
(% of net assets)
Long-Term Municipal Bonds	127.8%
Other Assets Less Liabilities	3.2%
Net Assets Plus AMTP Shares,
net of deferred offering costs	131.0%
AMTP Shares, net of deferred
offering costs	(31.0)%
Net Assets	100%

Portfolio Credit Quality
(% of total investment exposure)
U.S. Guaranteed	10.0%
AAA	0.4%
AA	31.7%
A	30.0%
BBB	17.9%
BB or Lower	5.0%
N/R (not rated)	5.0%
Total	100%

Portfolio Composition
(% of total investments)
Utilities	23.6%
Tax Obligation/Limited	15.6%
Health Care	15.3%
Transportation	14.9%
Education and Civic Organizations	9.0%
Water and Sewer	7.9%
Tax Obligation/General	5.8%
Other	7.9%
Total	100%

States and Territories
(as a % of total investments)
California	12.1%
Illinois	9.1%
Florida	8.2%
Colorado	7.8%
Tennessee	7.4%
Texas	7.1%
Michigan	4.5%
New Jersey	4.2%
Pennsylvania	3.2%
New York	3.0%
Ohio	3.0%
Maine	2.3%
Kentucky	2.2%
Nevada	2.0%
South Carolina	1.9%
Alabama	1.9%
Hawaii	1.4%
Other	18.7%
Total	100%

NID	Nuveen Intermediate Duration Municipal
	Term Fund
	Portfolio of Investments
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		LONG-TERM INVESTMENTS – 125.4% (100.0% of Total Investments)
		MUNICIPAL BONDS – 125.4% (100.0% of Total Investments)
		Alaska – 0.3% (0.2% of Total Investments)
$ 2,000		Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed	1/19 at 100.00	B3	$ 1,950,200
		Bonds, Series 2006A, 5.000%, 6/01/32
		Arizona – 1.2% (0.9% of Total Investments)
2,000		Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children’s	2/22 at 100.00	A+	2,146,040
		Hospital, Refunding Series 2012A, 5.000%, 2/01/27
695		Estrella Mountain Ranch Community Facilities District, Goodyear City, Arizona, Special	7/25 at 100.00	N/R	650,207
		Assessment Revenue Bonds, Montecito Assessment District 2, Series 2015, 4.750%,
		7/01/30, 144A
1,050		Florence Town Inc., Industrial Development Authority, Arizona, Education Revenue Bonds,	No Opt. Call	Ba1	1,088,199
		Legacy Traditional School Project – Queen Creek and Casa Grande Campuses, Series 2013,
		5.000%, 7/01/23
85		Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds,	7/21 at 100.00	N/R (4)	92,600
		Great Hearts Academies – Veritas Project, Series 2012, 6.250%, 7/01/32 (Pre-refunded 7/01/21)
290		Phoenix Industrial Development Authority, Arizona, Education Facility Revenue Bonds,	7/25 at 100.00	Ba1	290,470
		Legacy Traditional Schools Projects, Series 2015, 5.000%, 7/01/45, 144A
1,000		Phoenix Industrial Development Authority, Arizona, Lease Revenue Bonds, Guam Facilities	2/24 at 100.00	B+	935,160
		Foundation, Inc. Project, Series 2014, 5.125%, 2/01/34
760		Pima County Industrial Development Authority, Arizona, Education Facility Revenue and	7/20 at 102.00	BB–	720,389
		Refunding Bonds, Edkey Charter Schools Project, Series 2013, 5.000%, 7/01/25
800		University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series	No Opt. Call	N/R (4)	813,776
		2011, 5.000%, 7/01/19 (ETM)
533		Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds,	1/19 at 100.00	N/R	532,121
		Series 2005, 5.750%, 7/01/22
7,213		Total Arizona			7,268,962
		California – 11.8% (9.4% of Total Investments)
1,850		Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second	10/26 at 100.00	AA	1,911,050
		Subordinate Lien Series 2016B, 4.000%, 10/01/35 (WI/DD, Settling 12/03/18) – AGM Insured
2,490		Alvord Unified School District, Riverside County, California, General Obligation Bonds,	No Opt. Call	AA	4,838,991
		Tender Option Bond Trust 2016-XG0089, 20.170%, 8/01/30, 144A (IF) (6)
790		Antelope Valley Healthcare District, California, Revenue Bonds, Series 2011A, 6.875%,	3/21 at 100.00	N/R (4)	855,910
		3/01/26 (Pre-refunded 3/01/21)
750		Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge,	10/26 at 100.00	AA	868,147
		Tender Option Bond Trust 2016-XG0019, 5.016%, 10/01/31, 144A (IF) (6)
		California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group,
		Series 2017A:
1,095		5.250%, 11/01/29	11/26 at 100.00	BBB–	1,214,235
1,140		5.000%, 11/01/30	11/26 at 100.00	BBB–	1,239,545
1,000		California Pollution Control Financing Authority, Water Furnishing Revenue Bonds,	7/22 at 100.00	Baa3	1,027,940
		Poseidon Resources Channelside LP Desalination Project, Series 2012, 5.000%, 11/21/45, 144A
		(Alternative Minimum Tax)
		California Statewide Communities Development Authority, California, Revenue Bonds, Loma
		Linda University Medical Center, Series 2014A:
500		5.250%, 12/01/29	12/24 at 100.00	BB	538,070
2,500		5.250%, 12/01/34	12/24 at 100.00	BB	2,652,325
2,300		California Statewide Communities Development Authority, California, Revenue Bonds, Loma	6/26 at 100.00	BB–	2,481,838
		Linda University Medical Center, Series 2016A, 5.000%, 12/01/27, 144A

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		California (continued)
$ 5,000		Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds,	8/20 at 100.00	N/R	$ 5,208,200
		Redevelopment Projects, Second Lien Series 2010B, 5.750%, 8/01/26
3,000		Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,	No Opt. Call	AA	2,736,120
		Refunding Series 2013A, 0.000%, 1/15/29 – AGM Insured (5)
		Golden State Tobacco Securitization Corporation, California, Tobacco Settlement
		Asset-Backed Bonds, Series 2018A-1:
2,000		5.000%, 6/01/30	6/28 at 100.00	BBB	2,206,500
3,260		5.000%, 6/01/32	6/28 at 100.00	BBB	3,558,420
2,885		5.000%, 6/01/33	6/28 at 100.00	BBB	3,134,726
3,805		5.000%, 6/01/34	6/28 at 100.00	BBB	4,115,564
1,415		5.000%, 6/01/35	6/28 at 100.00	BBB	1,524,677
2,890		3.500%, 6/01/36	6/22 at 100.00	BBB	2,835,784
310		Indio Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment	1/19 at 100.00	A	310,676
		Project, Subordinate Lien Refunding Series 2008A, 5.000%, 8/15/23
645		Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement	1/19 at 100.00	N/R	642,871
		Asset-Backed Bonds, Series 2007A. Turbo Current Interest, 4.625%, 6/01/21
2,315		Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds,	9/25 at 100.00	N/R	2,485,847
		Refunding Series 2015, 5.000%, 9/01/35
250		National City Community Development Commission, California, Tax Allocation Bonds,	8/21 at 100.00	A (4)	283,272
		National City Redevelopment Project, Series 2011, 7.000%, 8/01/32 (Pre-refunded 8/01/21)
855		Palomar Pomerado Health Care District, California, Certificates of Participation, Series	No Opt. Call	N/R (4)	883,908
		2009, 5.500%, 11/01/19 (ETM)
5,000		Palomar Pomerado Health Care District, California, Certificates of Participation, Series	11/19 at 100.00	N/R (4)	5,219,050
		2009, 6.625%, 11/01/29 (Pre-refunded 11/01/19)
700		Redwood City, California, Special Tax Refunding Bonds, Redwood Shores Community	9/22 at 100.00	N/R	743,561
		Facilities District 99-1, Shores Transportation Improvement Project, Series 2012B,
		5.000%, 9/01/29
1,975		Riverside County Redevelopment Agency Successor Agency, California, Tax Allocation	10/24 at 100.00	AA	2,184,231
		Bonds, Refunding Series 2014A, 5.000%, 10/01/34 (WI/DD, Settling 12/03/18) – AGM Insured
215		Riverside County, California, Special Tax Bonds, Community Facilities District 05-8	No Opt. Call	N/R	221,695
		Scott Road, Series 2013, 4.000%, 9/01/21
500		Roseville, California, Special Tax Bonds, Community Facilities District 1 Westbrook,	9/24 at 100.00	N/R	539,490
		Series 2014, 5.000%, 9/01/29
2,395		San Bernardino Joint Powers Financing Authority, California, Tax Allocation Bonds,	No Opt. Call	AA	2,750,945
		Series 2005A, 5.750%, 10/01/24 – AGM Insured
440		San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series	12/21 at 100.00	BB	479,851
		2011, 7.500%, 12/01/41
260		San Diego, California, Community Facilities District 3 Liberty Station Special Tax	No Opt. Call	N/R	269,961
		Refunding Bonds Series 2013, 5.000%, 9/01/20
1,500		Tejon Ranch Public Facilities Financing Authority, California, Special Tax Bonds,	3/23 at 100.00	N/R	1,580,040
		Community Facilities District 2008-1 Tejon Industrial Complex East 2012A, 5.000%, 9/01/32
1,500		Tejon Ranch Public Facilities Financing Authority, California, Special Tax Bonds,	3/23 at 100.00	N/R	1,571,310
		Community Facilities District 2008-1 Tejon Industrial Complex East 2012B, 5.000%, 9/01/32
10,000		Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed	1/19 at 100.00	BB–	10,044,300
		Bonds, Refunding Series 2005A-2, 5.400%, 6/01/27 (5)
1,245		Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed	1/19 at 100.00	Baa3	1,251,312
		Bonds, Series 2005A-1, 4.750%, 6/01/23
65		Vernon, California, Electric System Revenue Bonds, Series 2009A, 5.125%, 8/01/21	8/19 at 100.00	N/R (4)	66,475
		(Pre-refunded 8/01/19)
68,840		Total California			74,476,837

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Colorado – 3.7% (3.0% of Total Investments)
		Colorado Bridge Enterprise, Revenue Bonds, Central 70 Project, Senior Series 2017:
$ 750		4.000%, 12/31/30 (Alternative Minimum Tax)	12/27 at 100.00	A–	$ 772,192
250		4.000%, 6/30/31 (Alternative Minimum Tax)	12/27 at 100.00	A–	256,550
645		Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue	6/23 at 100.00	A+	693,491
		Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013, 5.000%, 6/01/29
330		Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds,	No Opt. Call	B+	333,076
		Academy of Charter Schools Project, Series 2010B, 6.125%, 11/01/20
100		Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds,	No Opt. Call	BB+	103,171
		Littleton Preparatory Charter School, Series 2013, 5.000%, 12/01/22
420		Colorado Health Facilities Authority, Colorado, Revenue Bonds, Total Longterm Care	No Opt. Call	N/R (4)	436,220
		National Obligated Group Project, Series 2010A, 5.250%, 11/15/20 (ETM)
889		Colorado Housing and Finance Authority, Revenue Bonds, Confluence Energy LLC Project,	No Opt. Call	N/R	307,559
		Series 2017, 6.875%, 10/01/27 (Alternative Minimum Tax) (7)
3,270		Colorado Springs, Colorado, Utilities System Revenue Bonds, Tender Option Bond Trust	11/22 at 100.00	AA	3,893,589
		2015-XF0223, 9.001%, 11/15/30, 144A (IF)
		Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System
		Revenue Bonds, Tender Option Bond Trust 2016-XF2354:
100		15.959%, 3/01/25, 144A (IF) (6)	No Opt. Call	AA	177,012
300		15.959%, 3/01/26, 144A (IF) (6)	No Opt. Call	AA	552,456
430		15.927%, 3/01/27, 144A (IF) (6)	No Opt. Call	AA	812,618
725		15.959%, 3/01/28, 144A (IF) (6)	No Opt. Call	AA	1,396,364
200		15.959%, 3/01/29, 144A (IF) (6)	No Opt. Call	AA	392,080
635		Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United	10/23 at 100.00	BB	667,702
		Airlines, Inc. Project, Refunding Series 2017, 5.000%, 10/01/32 (Alternative Minimum Tax)
2,000		Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center	No Opt. Call	Baa2	2,216,340
		Hotel, Refunding Senior Lien Series 2016, 5.000%, 12/01/26
5,715		E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%,	No Opt. Call	A	4,194,467
		9/01/27 – NPFG Insured
860		Fitzsimons Village Metropolitan District 3, Arapahoe County, Colorado, Tax	3/20 at 100.00	N/R	838,921
		Increment/Public Improvement Fee Supported Revenue Bonds, Series 2014A,
		5.750%, 3/01/32
		Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds,
		Refunding Series 2013:
500		5.000%, 12/01/18, 144A	No Opt. Call	N/R	500,000
1,000		5.000%, 12/01/21, 144A	No Opt. Call	N/R	1,053,880
528		SouthGlenn Metropolitan District, Colorado, Special Revenue Bonds, Refunding Series	No Opt. Call	N/R	518,797
		2016, 3.000%, 12/01/21
3,150		Westminster Economic Development Authority, Colorado, Tax Increment Revenue Bonds,	12/22 at 100.00	AA–	3,442,729
		Mandalay Gardens Urban Renewal Project, Series 2012, 5.000%, 12/01/27
22,797		Total Colorado			23,559,214
		Connecticut – 0.0% (0.0% of Total Investments)
7,714		Mashantucket Western Pequot Tribe, Connecticut, Special Revenue Bonds, Subordinate	No Opt. Call	N/R	260,362
		Series 2013A, 6.050%, 7/01/31 (cash 4.000%, PIK 2.050%) (8)
		District of Columbia – 0.7% (0.6% of Total Investments)
		District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard
		Properties LLC Issue, Series 2013:
500		4.000%, 10/01/19	No Opt. Call	BB+	501,150
500		4.000%, 10/01/20	No Opt. Call	BB+	501,960
670		4.000%, 10/01/21	No Opt. Call	BB+	671,936
355		District of Columbia, Revenue Bonds, Ingleside at Rock Creek Project, Series 2017A,	7/24 at 103.00	N/R	349,824
		4.125%, 7/01/27

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		District of Columbia (continued)
		District of Columbia, Tax Increment Revenue Bonds, Gallery Place Project, Tender Option
		Bond Trust 2016-XF2341:
$ 745		15.230%, 6/01/29, 144A (IF) (6)	6/21 at 100.00	Aa2	$ 975,093
785		15.181%, 6/01/30, 144A (IF) (6)	6/21 at 100.00	Aa2	1,022,619
520		15.230%, 6/01/31, 144A (IF) (6)	6/21 at 100.00	Aa2	675,418
4,075		Total District of Columbia			4,698,000
		Florida – 9.0% (7.2% of Total Investments)
		Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing
		Project, Series 2013A:
425		5.000%, 11/15/20	No Opt. Call	BBB	444,898
150		5.000%, 11/15/23	No Opt. Call	BBB	163,551
680		Ave Maria Stewardship Community District, Florida, Capital Improvement Revenue Bonds,	5/25 at 100.00	N/R	668,372
		Series 2015, 5.000%, 5/01/30
7,200		Cape Coral Health Facilities Authority, Florida, Senior Housing Revenue Bonds, Gulf Care	7/25 at 100.00	N/R	7,614,720
		Inc. Project, Series 2015, 5.750%, 7/01/30, 144A
430		Capital Projects Finance Authority, Student Housing Revenue Bonds, Capital Projects Loan	1/19 at 100.00	Baa2	432,584
		Program – Florida Universities, Series 2001F-1, 5.000%, 10/01/31 – NPFG Insured
1,980		Capital Trust Agency, Florida, Fixed Rate Air Cargo Revenue Refunding Bonds, Aero Miami	7/20 at 100.00	Baa3	2,033,143
		FX, LLC Project, Series 2010A, 5.350%, 7/01/29
805		Collier County Educational Facilities Authority, Florida, Revenue Bonds, Ave Maria	No Opt. Call	BBB–	821,728
		University, Refunding Series 2013A, 4.500%, 6/01/23
475		Corkscrew Farms Community Development District, Lee County, Florida, Special Assessment	No Opt. Call	N/R	471,874
		Bonds, Area One Project, Series 2016, 3.500%, 11/01/21
1,800		Florida Development Finance Corporation, Educational Facilities Revenue Bonds,	No Opt. Call	BB	1,866,060
		Renaissance Charter School, Inc. Projects, Series 2011A, 6.500%, 6/15/21
545		Florida, Development Finance Corporation, Surface Transportation Facility Revenue Bonds,	1/19 at 105.00	N/R	564,522
		Brightline Passenger Rail Project – South Segment, Series 2017, 5.625%, 1/01/47, 144A
		(Mandatory put 1/01/28) (Alternative Minimum Tax)
640		Grand Bay at Doral Community Development District, Miami-Dade County, Florida, Special	No Opt. Call	N/R	667,322
		Assessment Bonds, Doral Breeze Project Series 2012, 5.125%, 11/01/22
		Lake Powell Residential Golf Community Development District, Bay County, Florida,
		Special Assessment Revenue Refunding Bonds, Series 2012:
700		5.250%, 11/01/22	No Opt. Call	N/R	727,356
1,300		5.750%, 11/01/32	11/23 at 100.00	N/R	1,333,943
1,855		Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee	1/19 at 100.00	BB–	1,839,882
		County Community Charter Schools, Series 2007A, 5.250%, 6/15/27
4,000		Martin County Industrial Development Authority, Florida, Industrial Development Revenue	6/20 at 100.00	BBB+	4,072,640
		Refunding Bonds, Indiantown Cogeneration LP, Series 2013, 3.950%, 12/15/21, 144A (Alternative
		Minimum Tax)
		Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Tender
		Option Bond Trust 2016-XG0099:
700		14.868%, 7/01/22, 144A (IF) (6)	No Opt. Call	A+	1,038,926
820		14.868%, 7/01/23, 144A (IF) (6)	7/22 at 100.00	A+	1,206,671
1,115		14.868%, 7/01/24, 144A (IF) (6)	7/22 at 100.00	A+	1,624,711
800		14.868%, 7/01/25, 144A (IF) (6)	7/22 at 100.00	A+	1,154,232
710		Miromar Lakes Community Development District, Lee County, Florida, Capital Improvement	No Opt. Call	N/R	733,018
		Revenue Bonds, Refunding Series 2012, 4.875%, 5/01/22
1,230		Northern Palm Beach County Improvement District, Florida, Water Control and Improvement	No Opt. Call	N/R	1,273,702
		Bonds, Development Unit 16, Refunding Series 2012, 5.125%, 8/01/22
500		Palm Beach County Health Facilities Authority, Florida, Hospital Revenue Bonds, BRCH	12/24 at 100.00	BBB+	552,140
		Corporation Obligated Group, Refunding Series 2014, 5.000%, 12/01/25
900		Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical	11/22 at 100.00	BBB+	942,228
		Center, Series 2013A, 5.000%, 11/01/33

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Florida (continued)
$ 140		Pelican Marsh Community Development District, Florida, Special Assessment Revenue Bonds,	No Opt. Call	N/R	$ 140,136
		Refunding Series 2013, 3.500%, 5/01/19
2,610		South Fork Community Development District, Florida, Capital Improvement Revenue Bonds,	5/27 at 100.00	BBB	2,626,626
		Refunding Series 2017, 4.000%, 5/01/31
1,735		South-Dade Venture Community Development District, Florida, Special Assessment Revenue	5/22 at 100.00	BBB	1,861,134
		Bonds, Refunding Series 2012, 5.000%, 5/01/26
1,125		Stonegate Community Development District, Florida, Special Assessment Revenue Bonds,	5/23 at 100.00	N/R	1,123,706
		Refunding Series 2013, 4.000%, 5/01/25
		Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central
		Florida Health Alliance Projects, Series 2014B:
2,925		5.000%, 7/01/29	7/24 at 100.00	A–	3,200,564
2,350		5.000%, 7/01/30	7/24 at 100.00	A–	2,556,400
1,560		5.000%, 7/01/31	7/24 at 100.00	A–	1,688,404
1,400		5.000%, 7/01/32	7/24 at 100.00	A–	1,509,088
		Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Tender Option
		Bond Trust 2016-XG0097:
400		15.128%, 7/01/27, 144A (IF) (6)	7/22 at 100.00	A+	575,684
290		15.128%, 7/01/28, 144A (IF) (6)	7/22 at 100.00	A+	412,705
1,000		10.136%, 7/01/29, 144A (IF) (6)	7/22 at 100.00	A+	1,222,780
1,000		10.136%, 7/01/30, 144A (IF) (6)	7/22 at 100.00	A+	1,198,580
1,000		15.128%, 7/01/31, 144A (IF) (6)	7/22 at 100.00	A+	1,419,560
1,510		Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006,	1/19 at 100.00	N/R	1,511,163
		5.400%, 5/01/37
1,255		Venetian Community Development District, Sarasota County, Florida, Capital Improvement	5/22 at 100.00	N/R	1,286,237
		Revenue Bonds, Series 2012-A2, 5.000%, 5/01/23
1,945		Verandah West Community Development District, Florida, Capital Improvement Revenue	No Opt. Call	N/R	1,936,403
		Bonds, Refunding Series 2013, 4.000%, 5/01/23
390		Vizcaya in Kendall Community Development District, Florida, Special Assessment Revenue	No Opt. Call	BBB–	410,884
		Bonds, Phase Two Assessment Area, Refunding Series 2012A-2, 5.600%, 5/01/22
52,395		Total Florida			56,928,277
		Georgia – 0.4% (0.3% of Total Investments)
2,000		Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta	6/20 at 100.00	Baa3	2,175,120
		Air Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29
575		Rockdale County Development Authority, Georgia, Revenue Bonds, Pratt Paper, LLC Project,	1/28 at 100.00	N/R	549,079
		Refunding Series 2018, 4.000%, 1/01/38, 144A (Alternative Minimum Tax)
2,575		Total Georgia			2,724,199
		Guam – 4.1% (3.3% of Total Investments)
		Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D:
1,860		5.000%, 11/15/24	No Opt. Call	A	2,064,005
2,170		5.000%, 11/15/33	11/25 at 100.00	A	2,315,195
		Guam Government Department of Education, Certificates of Participation, John F. Kennedy
		High School Project, Series 2010A:
810		6.000%, 12/01/20	No Opt. Call	B+	817,079
325		6.875%, 12/01/40	12/20 at 100.00	B+	333,027
1,100		Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,	7/24 at 100.00	A–	1,170,037
		Refunding Series 2014A, 5.000%, 7/01/29
2,000		Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series	7/20 at 100.00	A– (4)	2,100,580
		2010, 5.250%, 7/01/25 (Pre-refunded 7/01/20)
		Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds,
		Series 2013:
1,365		5.250%, 7/01/24	7/23 at 100.00	A–	1,487,946
2,500		5.500%, 7/01/43	7/23 at 100.00	A–	2,645,675
235		Guam Government, General Obligation Bonds, 2009 Series A, 6.000%, 11/15/19	No Opt. Call	BB–	240,389

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Guam (continued)
$ 2,500		Guam Government, General Obligation Bonds, 2009 Series A, 6.750%, 11/15/29	11/19 at 100.00	N/R (4)	$ 2,613,500
		(Pre-refunded 11/15/19)
1,000		Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.375%,	12/19 at 100.00	BBB+ (4)	1,034,080
		12/01/24 (Pre-refunded 12/01/19)
		Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2016A:
1,000		5.000%, 12/01/24	No Opt. Call	BBB+	1,110,230
2,500		5.000%, 12/01/25	No Opt. Call	BBB+	2,793,100
2,750		5.000%, 12/01/26	No Opt. Call	BBB+	3,085,472
2,025		Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/30 – AGM Insured	10/22 at 100.00	AA	2,191,597
200		Guam Power Authority, Revenue Bonds, Series 2014A, 5.000%, 10/01/31	10/24 at 100.00	BBB	212,538
24,340		Total Guam			26,214,450
		Hawaii – 1.3% (1.0% of Total Investments)
6,215		Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific	7/27 at 100.00	N/R	6,112,701
		University, Series 2018, 6.000%, 7/01/28, 144A
355		Hawaii Housing Finance and Development Corporation, Multifamily Housing Revenue Bonds,	No Opt. Call	A–	360,329
		Wilikina Apartments Project, Series 2012A, 4.250%, 5/01/22
1,550		Hawaii State Department of Transportation, Special Facility Revenue Bonds, Continental	1/19 at 100.00	BB	1,569,096
		Airlines Inc., Series 1997, 5.625%, 11/15/27 (Alternative Minimum Tax)
8,120		Total Hawaii			8,042,126
		Idaho – 0.4% (0.3% of Total Investments)
2,530		Idaho Health Facilities Authority, Revenue Bonds, Madison Memorial Hospital Project,	9/26 at 100.00	BB+	2,713,501
		Refunding Series 2016, 5.000%, 9/01/30
		Illinois – 21.8% (17.4% of Total Investments)
6,660		CenterPoint Intermodal Center Program Trust, Illinois, Series 2004 Class A Certificates,	12/22 at 100.00	N/R	6,679,647
		4.000%, 6/15/23, 144A (Mandatory put 12/15/22)
5,000		Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds,	4/27 at 100.00	A	5,625,400
		Series 2016, 5.750%, 4/01/34
440		Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds,	4/27 at 100.00	N/R	464,174
		Series 2017, 5.000%, 4/01/42
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,
		Refunding Series 2010F:
545		5.000%, 12/01/18	No Opt. Call	BB–	545,000
1,275		5.000%, 12/01/19	No Opt. Call	B+	1,294,597
1,230		5.000%, 12/01/20	No Opt. Call	BB–	1,263,997
3,420		5.000%, 12/01/31	12/20 at 100.00	BB–	3,436,040
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,
		Refunding Series 2010F:
140		5.000%, 12/01/18 (ETM)	No Opt. Call	N/R (4)	140,000
325		5.000%, 12/01/19 (ETM)	No Opt. Call	N/R (4)	334,721
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,
		Refunding Series 2017C:
7,225		5.000%, 12/01/26	No Opt. Call	B+	7,484,811
1,875		5.000%, 12/01/27	No Opt. Call	B+	1,945,106
1,000		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,	12/28 at 100.00	AA	1,101,610
		Refunding Series 2018A, 5.000%, 12/01/30 – AGM Insured
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,
		Series 2008C:
1,250		5.000%, 12/01/22	12/18 at 100.00	BB–	1,250,887
3,000		5.250%, 12/01/25	12/18 at 100.00	BB–	3,001,920
870		5.000%, 12/01/29	12/18 at 100.00	BB–	870,157
1,000		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,	12/25 at 100.00	B+	1,168,780
		Series 2016A, 7.000%, 12/01/26

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Illinois (continued)
		Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated
		Tax Revenues, Series 1998B-1:
$ 1,470		0.000%, 12/01/22 – NPFG Insured	No Opt. Call	Baa2	$ 1,286,426
1,500		0.000%, 12/01/27 – NPFG Insured	No Opt. Call	Baa2	1,025,895
2,393		Chicago, Illinois, Certificates of Participation Tax Increment Bonds, 35th and State	12/18 at 100.00	N/R	2,369,461
		Redevelopment Project, Series 2012, 6.100%, 1/15/29
202		Chicago, Illinois, Certificates of Participation Tax Increment Bonds, MetraMarket	1/19 at 100.00	Ba2	202,411
		Project, Series 2010, 6.870%, 2/15/24
848		Chicago, Illinois, Certificates of Participation, Tax Increment Allocation Revenue	1/19 at 100.00	N/R	619,136
		Bonds, Diversey-Narragansett Project, Series 2006, 7.460%, 2/15/26 (8)
1,935		Chicago, Illinois, General Obligation Bonds, Project Series 2011A, 5.000%, 1/01/40	1/21 at 100.00	BBB+	1,954,660
2,680		Chicago, Illinois, General Obligation Bonds, Refunding Series 2012C, 5.000%, 1/01/23	1/22 at 100.00	BBB+	2,776,373
		Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C:
850		5.000%, 1/01/24	No Opt. Call	BBB+	899,470
1,500		5.000%, 1/01/25	No Opt. Call	BBB+	1,596,780
		Cook County, Illinois, General Obligation Bonds, Tender Option Bond Trust 2015-XF0124:
1,000		14.739%, 11/15/29, 144A (IF) (6)	11/22 at 100.00	AA–	1,334,980
3,040		14.739%, 11/15/33, 144A (IF) (6)	11/22 at 100.00	AA–	3,833,379
1,100		Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International	10/20 at 100.00	B+	1,146,442
		Corporation Project, Series 2010, 6.750%, 10/15/40
5,530		Illinois Finance Authority, Recovery Zone Facility Revenue Bonds, Navistar International	10/20 at 100.00	B+	5,788,030
		Corporation Project, Series 2010, 6.750%, 10/15/40
		Illinois Finance Authority, Revenue Bonds, Centegra Health System, Tender Option Bond
		Trust 2016-XF2339:
480		15.714%, 9/01/21, 144A (IF) (6)	No Opt. Call	AA+	656,304
330		15.688%, 9/01/21, 144A (IF) (6)	No Opt. Call	AA+	450,978
435		15.677%, 9/01/22, 144A (IF) (6)	No Opt. Call	AA+	645,257
		Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding
		Series 2006A:
2,680		5.000%, 4/01/24	1/19 at 100.00	Baa3	2,680,616
1,950		5.000%, 4/01/26	1/19 at 100.00	Baa3	1,949,980
2,000		5.000%, 4/01/31	1/19 at 100.00	Baa3	1,976,320
		Illinois Finance Authority, Revenue Bonds, Illinois Wesleyan University, Refunding
		Series 2016:
1,500		3.000%, 9/01/30	9/26 at 100.00	A–	1,333,875
1,475		3.000%, 9/01/31	9/26 at 100.00	A–	1,294,224
		Illinois Finance Authority, Revenue Bonds, Ingalls Health System, Series 2013:
770		4.000%, 5/15/19	No Opt. Call	Baa2	774,658
895		5.000%, 5/15/20	No Opt. Call	Baa2	925,269
1,035		5.000%, 5/15/21	No Opt. Call	Baa2	1,092,329
1,210		5.000%, 5/15/22	No Opt. Call	Baa2	1,300,944
1,575		5.000%, 5/15/24	5/22 at 100.00	Baa2	1,686,982
120		Illinois Finance Authority, Revenue Bonds, Resurrection Health Care Corporation,	5/19 at 100.00	N/R (4)	122,245
		Refunding Series 2009, 6.125%, 5/15/25 (Pre-refunded 5/15/19)
		Illinois Finance Authority, Revenue Bonds, Resurrection Health Care Corporation,
		Refunding Series 2009:
100		6.125%, 5/15/25 (Pre-refunded 5/15/19)	5/19 at 100.00	N/R (4)	101,803
3,280		6.125%, 5/15/25 (Pre-refunded 5/15/19)	5/19 at 100.00	AA+ (4)	3,342,123
775		Illinois Finance Authority, Student Housing & Academic Facility Revenue Bonds,	8/27 at 100.00	BBB–	823,220
		CHF-Collegiate Housing Foundation – Chicago LLC University of Illinois at Chicago Project,
		Series 2017A, 5.000%, 2/15/37
2,500		Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014,	6/24 at 100.00	AA	2,713,500
		5.000%, 6/15/27 – AGM Insured

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Illinois (continued)
		Illinois Sports Facility Authority, State Tax Supported Bonds, Series 2001:
$ 4,300		0.000%, 6/15/23 – AMBAC Insured	No Opt. Call	BBB–	$ 3,604,905
1,000		0.000%, 6/15/25 – AMBAC Insured	No Opt. Call	BBB–	769,140
		Illinois State, General Obligation Bonds, December Series 2017A:
890		5.000%, 12/01/27	No Opt. Call	BBB	944,228
1,020		5.000%, 12/01/28	12/27 at 100.00	BBB	1,077,457
2,250		Illinois State, General Obligation Bonds, February Series 2014, 5.000%, 2/01/21	No Opt. Call	BBB	2,320,425
1,500		Illinois State, General Obligation Bonds, November Series 2016, 5.000%, 11/01/26	No Opt. Call	BBB	1,594,515
5,175		Illinois State, General Obligation Bonds, November Series 2017D, 5.000%, 11/01/26	No Opt. Call	BBB	5,501,077
4,565		Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/26	No Opt. Call	BBB	4,843,556
1,870		Illinois State, General Obligation Bonds, Refunding Series 2010, 5.000%, 1/01/24	1/20 at 100.00	BBB	1,900,275
		Illinois State, General Obligation Bonds, Refunding Series 2012:
1,750		5.000%, 8/01/22	No Opt. Call	BBB	1,828,925
4,000		5.000%, 8/01/23 – AGM Insured	No Opt. Call	AA	4,336,160
2,000		Illinois State, General Obligation Bonds, Tender Option Bond Trust 2015-XF1010, 12.276%,	No Opt. Call	AA	2,672,340
		8/01/23 – AGM Insured, 144A (IF) (6)
3,560		Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation	6/26 at 100.00	AA	3,646,081
		September Series 2016C, 4.000%, 6/15/30 – BAM Insured
2,060		Illinois State, Sales Tax Revenue Bonds, First Series 2002, 6.000%, 6/15/27 –	No Opt. Call	A–	2,441,965
		NPFG Insured
3,525		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project	6/22 at 100.00	BBB	3,651,688
		Bonds, Refunding Series 2012B, 5.000%, 12/15/28
1,000		Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project	No Opt. Call	BBB	1,076,630
		Bonds, Series 2017B, 5.000%, 12/15/26
3,685		Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place	6/20 at 100.00	BBB	3,702,651
		Expansion Project, Refunding Series 2010B-2, 5.250%, 6/15/50
		Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues,
		Refunding Series 2018C:
2,115		5.000%, 12/01/23 (WI/DD, Settling 12/13/18)	No Opt. Call	B+	2,193,932
515		5.000%, 1/01/31	1/26 at 100.00	BBB+	539,653
		Romeoville, Illinois, Revenue Bonds, Lewis University Project, Series 2015:
1,100		5.000%, 10/01/25	4/25 at 100.00	BBB+	1,204,599
200		5.000%, 10/01/26	4/25 at 100.00	BBB+	217,828
2,500		Wauconda, Illinois, Special Service Area 1 Special Tax Bonds, Liberty Lake Project,	3/25 at 100.00	AA	2,718,250
		Refunding Series 2015, 5.000%, 3/01/33 – BAM Insured
132,993		Total Illinois			138,097,197
		Indiana – 3.1% (2.5% of Total Investments)
880		Carmel, Indiana, Revenue Bonds, Barrington of Carmel Project, Series 2012A,	No Opt. Call	N/R	863,060
		6.000%, 11/15/22
4,215		Indiana Finance Authority, Educational Facilities Revenue Bonds, 21st Century Charter	3/23 at 100.00	B+	4,202,566
		School Project, Series 2013A, 6.000%, 3/01/33
415		Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For	10/19 at 100.00	B	416,747
		Educational Excellence, Inc., Series 2009A, 6.000%, 10/01/21
850		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of	No Opt. Call	N/R	859,282
		Indiana Inc. Project, Series 2016, 6.250%, 12/01/24, 144A
870		Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of	No Opt. Call	N/R	879,500
		Northwest Indiana Inc. Project, Series 2016, 6.250%, 12/01/24, 144A
5,590		Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel	6/20 at 100.00	BB–	5,746,240
		Corporation Project, Refunding Series 2010, 6.000%, 12/01/26
6,330		Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel	No Opt. Call	BB–	6,465,525
		Corporation Project, Refunding Series 2011, 6.000%, 12/01/19

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Indiana (continued)
$ 275		Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series	No Opt. Call	N/R	$ 300,154
		2013, 5.875%, 1/01/24 (Alternative Minimum Tax)
19,425		Total Indiana			19,733,074
		Iowa – 2.7% (2.2% of Total Investments)
1,925		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Alcoa Inc.	8/22 at 100.00	BBB–	1,965,425
		Project, Series 2012, 4.750%, 8/01/42
		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer
		Company Project, Series 2013:
1,150		5.500%, 12/01/22	12/18 at 100.00	B	1,151,276
3,000		5.250%, 12/01/25	12/23 at 100.00	B	3,172,320
3,990		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer	12/19 at 104.00	B	4,192,532
		Company Project, Series 2016, 5.875%, 12/01/26, 144A
4,640		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer	12/22 at 103.00	B	4,850,981
		Company Project, Series 2018A, 5.250%, 12/01/50 (Mandatory put 12/01/22)
200		Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Upper Iowa	No Opt. Call	N/R (4)	201,506
		University Project, Series 2012, 3.000%, 9/01/19 (ETM)
1,500		Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,	1/19 at 100.00	BB–	1,500,405
		5.600%, 6/01/34 (5)
16,405		Total Iowa			17,034,445
		Kansas – 2.1% (1.7% of Total Investments)
2,000		Kansas Development Finance Authority Hospital Revenue Bonds, Adventist Health	5/22 at 100.00	AA	2,714,120
		System/Sunbelt Obligated Group, Tender Option Bond Trust 2016-XG0056,
		16.043%, 11/15/32, 144A (IF) (6)
310		Kansas Development Finance Authority, Hospital Revenue Bonds, Adventist Health	5/22 at 100.00	AA	399,265
		System/Sunbelt Obligated Group, Tender Option Bond Trust 2015-XF2190,
		13.076%, 11/15/32, 144A (IF) (6)
200		Kansas Power Pool, a Municipal Energy Agency Electric Utility Revenue Bonds, DogWood	12/25 at 100.00	A3	223,322
		Facility, Series 2015A, 5.000%, 12/01/28
1,750		Overland Park Development Corporation, Kansas, First Tier Revenue Bonds, Overland Park	1/19 at 100.00	BB+	1,752,257
		Convention Center, Series 2007A, 5.250%, 1/01/32 – AMBAC Insured
2,000		Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire Community Improvement	12/22 at 100.00	N/R	1,712,480
		District No. 1 Project, Series 2012B, 6.100%, 12/15/34
8,000		Overland Park, Kansas, Sales Tax Special Obligation Revenue Bonds, Prairiefire at	12/22 at 100.00	N/R	6,581,280
		Lionsgate Project, Series 2012, 5.250%, 12/15/29
14,260		Total Kansas			13,382,724
		Kentucky – 0.9% (0.7% of Total Investments)
		Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro
		Health, Refunding Series 2017A:
3,000		5.000%, 6/01/30	6/27 at 100.00	Baa3	3,223,500
1,315		5.000%, 6/01/31	6/27 at 100.00	Baa3	1,406,550
685		Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky	7/25 at 100.00	BBB+	756,130
		Information Highway Project, Senior Series 2015A, 5.000%, 7/01/27
175		Owensboro, Kentucky, Water Revenue Bonds, Refunding & Improvement Series 2014, 2.500%,	No Opt. Call	AA	176,764
		9/15/21 – BAM Insured
5,175		Total Kentucky			5,562,944
		Louisiana – 1.6% (1.3% of Total Investments)
		Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East
		Jefferson General Hospital, Refunding Series 2011:
780		5.625%, 7/01/26	7/21 at 100.00	B+	766,264
60		6.250%, 7/01/31	7/21 at 100.00	BB	59,189

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Louisiana (continued)
$ 3,300		Louisiana Local Government Environmental Facilities and Community Development Authority,	11/27 at 100.00	BBB	$ 3,152,391
		Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017,
		3.500%, 11/01/32
2,840		Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project,	No Opt. Call	Baa1	2,539,329
		Refunding Series 2017, 0.000%, 10/01/31 (5)
250		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,	5/21 at 100.00	A3 (4)	268,810
		Series 2011, 5.250%, 5/15/22 (Pre-refunded 5/15/21)
500		Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,	5/21 at 100.00	A3 (4)	549,490
		Series 2011, 6.250%, 5/15/31 (Pre-refunded 5/15/21)
1,000		Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series	No Opt. Call	AA–	1,092,510
		2013A, 5.000%, 7/01/22
		New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, North Terminal
		Project, Series 2017B:
500		5.000%, 1/01/31 (Alternative Minimum Tax)	1/27 at 100.00	A–	555,530
800		5.000%, 1/01/32 (Alternative Minimum Tax)	1/27 at 100.00	A–	885,400
285		Saint Tammany Public Trust Financing Authority, Louisiana, Revenue Bonds, Christwood	11/24 at 100.00	N/R	302,445
		Project, Refunding Series 2015, 5.250%, 11/15/29
10,315		Total Louisiana			10,171,358
		Maine – 0.1% (0.1% of Total Investments)
500		Maine Finance Authority, Solid Waste Disposal Revenue Bonds, Coastal Resources of Maine	12/26 at 100.00	N/R	507,025
		LLC Project, Green Series 2017, 5.375%, 12/15/33, 144A (Alternative Minimum Tax)
350		Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine	No Opt. Call	BBB	374,293
		Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/22
850		Total Maine			881,318
		Maryland – 0.6% (0.5% of Total Investments)
		Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017:
350		5.000%, 9/01/26	No Opt. Call	BBB–	390,593
1,000		5.000%, 9/01/33	9/27 at 100.00	BBB–	1,103,640
2,000		5.000%, 9/01/34	9/27 at 100.00	BBB–	2,181,220
3,350		Total Maryland			3,675,453
		Massachusetts – 0.9% (0.8% of Total Investments)
1,000		Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue,	No Opt. Call	BBB	1,130,730
		Series 2016E, 5.000%, 7/01/26
1,510		Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue K,	7/22 at 100.00	AA	1,592,099
		Series 2013, 5.250%, 7/01/29 (Alternative Minimum Tax)
3,150		Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc.,	1/19 at 100.00	N/R	3,208,874
		Series 2001A, 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)
5,660		Total Massachusetts			5,931,703
		Michigan – 4.8% (3.8% of Total Investments)
185		Detroit Downtown Development Authority, Michigan, Tax Increment Refunding Bonds,	1/19 at 100.00	Baa2	187,407
		Development Area 1 Projects, Series 1998A, 4.750%, 7/01/25 – NPFG Insured
1,265		Flint Hospital Building Authority, Michigan, Building Authority Revenue Bonds, Hurley	No Opt. Call	BBB–	1,324,771
		Medical Center, Series 2013A, 5.000%, 7/01/23
		Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water &
		Sewerage Department Water Supply System Local Project, Series 2014C-3:
5,000		5.000%, 7/01/24 – AGM Insured	No Opt. Call	AA	5,665,700
5,000		5.000%, 7/01/25 – AGM Insured	7/24 at 100.00	AA	5,628,800
5,000		5.000%, 7/01/26 – AGM Insured	7/24 at 100.00	AA	5,598,700
1,945		5.000%, 7/01/31 – AGM Insured	7/24 at 100.00	AA	2,147,727

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Michigan (continued)
		Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water &
		Sewerage Department Water Supply System Local Project, Series 2014C-7:
$ 2,000		5.000%, 7/01/25 – NPFG Insured	7/24 at 100.00	A	$ 2,233,900
2,000		5.000%, 7/01/26 – NPFG Insured	7/24 at 100.00	A	2,223,040
325		Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Old	No Opt. Call	BB–	324,695
		Redford Academy Project, Series 2010A, 5.250%, 12/01/20
185		Michigan Finance Authority, Public School Academy Revenue Bonds, Detroit Service	No Opt. Call	B	181,139
		Learning Academy Project, Refunding Series 2011, 6.000%, 10/01/21
		Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Tender Option
		Bond Trust 2015-XF0126:
7		15.423%, 12/01/27, 144A (Pre-refunded 12/01/20) (IF) (6)	12/20 at 100.00	N/R (4)	8,861
818		15.423%, 12/01/27, 144A (IF) (6)	12/20 at 100.00	AA–	1,035,482
330		Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds,	1/19 at 100.00	BBB–	330,521
		Richfield Public School Academy, Series 2007, 5.000%, 9/01/22
1,725		Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Thermal LLC Project,	12/23 at 100.00	N/R	1,919,132
		Series 2018, 7.000%, 12/01/30, 144A (Alternative Minimum Tax)
1,625		Star International Academy, Wayne County, Michigan, Public School Academy Revenue Bonds,	3/20 at 101.00	BBB	1,656,623
		Refunding Series 2012, 5.000%, 3/01/33
27,410		Total Michigan			30,466,498
		Minnesota – 0.1% (0.1% of Total Investments)
		Minnesota Higher Education Facilities Authority, Revenue Bonds, Minneapolis College of
		Art and Design, Series 2015-8D:
260		4.000%, 5/01/24	5/23 at 100.00	Baa2	270,873
250		4.000%, 5/01/26	5/23 at 100.00	Baa2	258,260
510		Total Minnesota			529,133
		Mississippi – 0.6% (0.5% of Total Investments)
1,845		Mississippi Business Finance Corporation, Gulf Opportunity Zone Industrial Development	1/19 at 100.00	BBB–	1,840,590
		Revenue Bonds, Northrop Grumman Ship Systems Inc. Project, Series 2006, 4.550%, 12/01/28
		Mississippi Development Bank Special Obligation Bonds, Marshall County Industrial
		Development Authority, Mississippi Highway Construction Project, Tender Option
		Bond Trust 3315:
800		15.959%, 1/01/26, 144A (Pre-refunded 1/01/22) (IF) (6)	1/22 at 100.00	AA- (4)	1,147,352
500		15.959%, 1/01/28, 144A (Pre-refunded 1/01/22) (IF) (6)	1/22 at 100.00	AA- (4)	717,095
3,145		Total Mississippi			3,705,037
		Missouri – 1.3% (1.0% of Total Investments)
1,125		Branson Industrial Development Authority, Missouri, Tax Increment Revenue Bonds, Branson	11/25 at 100.00	N/R	1,103,524
		Shoppes Redevelopment Project, Refunding Series 2017A, 4.000%, 11/01/27
3,000		Poplar Bluff Regional Transportation Development District, Missouri, Transportation	12/22 at 100.00	BBB	2,988,540
		Sales Tax Revenue Bonds, Series 2012, 4.000%, 12/01/36
865		Raymore, Missouri, Tax Increment Revenue Bonds, Raymore Galleria Project, Refunding &	5/23 at 100.00	N/R	875,605
		Improvement Series 2014A, 5.000%, 5/01/24
		Saint Louis County Industrial Development Authority, Missouri, Health Facilities Revenue
		Bonds, Ranken-Jordan Project, Refunding & Improvement Series 2016:
385		5.000%, 11/15/23	No Opt. Call	N/R	405,690
800		5.000%, 11/15/25	No Opt. Call	N/R	851,688
1,595		Saint Louis Land Clearance for Redevelopment Authority, Missouri, Annual Appropriation	4/27 at 100.00	A	1,731,229
		Revenue Bonds, Contractual Payments of St. Louis City Scottrade Center Project, Series 2018A,
		5.000%, 4/01/38
7,770		Total Missouri			7,956,276

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Nebraska – 0.7% (0.6% of Total Investments)
$ 2,000		Central Plains Energy Project, Nebraska, Gas Project 1 Revenue Bonds, Series 2007A,	No Opt. Call	A	$ 2,152,720
		5.250%, 12/01/21
1,445		Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012,	9/22 at 100.00	A	1,554,993
		5.000%, 9/01/32
635		Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna	5/24 at 100.00	BBB+	694,563
		Rehabilitation Hospital Project, Series 2014, 5.000%, 5/15/26
4,080		Total Nebraska			4,402,276
		Nevada – 1.2% (1.0% of Total Investments)
		Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project,
		Series 2017A:
320		5.000%, 9/01/29	9/27 at 100.00	BBB+	357,322
495		5.000%, 9/01/31	9/27 at 100.00	BBB+	548,287
1,630		Carson City, Nevada, Hospital Revenue Bonds, Carson-Tahoe Regional Healthcare Project,	9/22 at 100.00	BBB+	1,748,094
		Refunding Series 2012, 5.000%, 9/01/27
620		Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran	1/20 at 100.00	Aa3	638,309
		International Airport, Series 2010A, 5.000%, 7/01/30
		Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-13
		Cornerstone, Refunding Series 2013:
375		4.000%, 3/01/19	No Opt. Call	N/R	375,026
420		5.000%, 3/01/20	No Opt. Call	N/R	424,150
440		5.000%, 3/01/21	No Opt. Call	N/R	446,112
455		5.000%, 3/01/22	No Opt. Call	N/R	461,898
1,465		Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Refunding Series	6/26 at 100.00	BBB+	1,610,372
		2016, 5.000%, 6/15/31
1,000		Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A,	6/19 at 100.00	BBB+ (4)	1,029,360
		7.500%, 6/15/23 (Pre-refunded 6/15/19)
175		North Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 65	12/27 at 100.00	N/R	170,076
		Northern Beltway Commercial Area, Series 2017, 5.000%, 12/01/37, 144A
7,395		Total Nevada			7,809,006
		New Hampshire – 0.1% (0.1% of Total Investments)
		Manchester Housing and Redevelopment Authority, New Hampshire, Revenue Bonds,
		Series 2000B:
320		0.000%, 1/01/19 – ACA Insured	No Opt. Call	AA	319,094
370		0.000%, 1/01/20 – ACA Insured	No Opt. Call	AA	355,252
690		Total New Hampshire			674,346
		New Jersey – 7.4% (5.9% of Total Investments)
3,275		Burlington County Bridge Commission, New Jersey, Economic Development Revenue Bonds, The	1/19 at 100.00	N/R	3,086,786
		Evergreens Project, Series 2007, 5.625%, 1/01/38
3,000		Camden County Improvement Authority, New Jersey, Health Care Redevelopment Revenue	2/24 at 100.00	BBB+	3,219,330
		Bonds, Cooper Health System Obligated Group Issue, Refunding Series 2014A, 5.000%, 2/15/31
900		New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series	6/22 at 100.00	BBB+	957,690
		2012, 5.000%, 6/15/25
1,615		New Jersey Economic Development Authority, School Facilities Construction Financing	6/24 at 100.00	A–	1,641,906
		Program Bonds, Refunding Series 2014PP, 4.000%, 6/15/28
		New Jersey Economic Development Authority, School Facilities Construction Financing
		Program Bonds, Tender Option Bond Trust 2016-XF2340:
1,440		5.031%, 9/01/25, 144A (IF) (6)	3/25 at 100.00	A–	1,267,099
1,200		6.528%, 9/01/27, 144A (IF) (6)	3/23 at 100.00	A–	1,112,580
		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental
		Airlines Inc., Series 1999:
3,000		5.125%, 9/15/23 (Alternative Minimum Tax)	3/19 at 100.00	BB	3,213,030
7,550		5.250%, 9/15/29 (Alternative Minimum Tax)	8/22 at 101.00	BB	8,137,768

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		New Jersey (continued)
$ 2,410		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental	3/24 at 101.00	BB	$ 2,695,898
		Airlines Inc., Series 2000A & 2000B, 5.625%, 11/15/30 (Alternative Minimum Tax)
5,000		New Jersey Educational Facilities Authority, Revenue Bonds, Montclair State University,	9/24 at 100.00	A–	5,042,450
		Series 2014A, 4.000%, 9/01/29
7,000		New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint	7/21 at 100.00	BB+	7,430,080
		Peters University Hospital, Refunding Series 2011, 6.000%, 7/01/26
1,200		New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Princeton	7/26 at 100.00	AA	1,362,936
		HealthCare System, Series 2016A, 5.000%, 7/01/30
1,625		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding	No Opt. Call	A–	927,518
		Series 2006C, 0.000%, 12/15/31 – FGIC Insured
1,000		New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series	12/24 at 100.00	A–	1,080,350
		2009C, 5.250%, 6/15/32
		New Jersey Turnpike Authority, Revenue Bonds, Tender Option Bond Trust 2016-XF1057:
460		14.808%, 1/01/24, 144A (Pre-refunded 7/01/22) (IF) (6)	7/22 at 100.00	N/R (4)	694,375
40		14.808%, 1/01/24, 144A (Pre-refunded 7/01/22) (IF) (6)	7/22 at 100.00	A+ (4)	60,380
		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed
		Bonds, Series 2018A:
2,250		5.000%, 6/01/27	No Opt. Call	A	2,520,630
1,920		5.000%, 6/01/30	6/28 at 100.00	A–	2,131,238
44,885		Total New Jersey			46,582,044
		New Mexico – 0.5% (0.4% of Total Investments)
1,115		Bernalillo County, New Mexico, Multifamily Housing Revenue Bonds, Valencia Retirement	1/19 at 100.00	N/R	1,115,245
		Apartments Project, Series 2001A, 5.450%, 6/01/34 – AMBAC Insured (Alternative Minimum Tax)
2,000		Santa Fe, New Mexico, Retirement Facilities Revenue Bonds, EL Castillo Retirement	5/22 at 100.00	BBB–	2,049,520
		Residences Project, Series 2012, 5.000%, 5/15/32
3,115		Total New Mexico			3,164,765
		New York – 7.7% (6.1% of Total Investments)
		Build New York City Resource Corporation, New York, Revenue Bonds, Bronx Charter School
		for Excellence, Series 2013A:
505		4.000%, 4/01/20	No Opt. Call	BBB–	511,954
570		4.000%, 4/01/23	No Opt. Call	BBB–	585,008
		Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds,
		Pratt Paper NY, Inc. Project, Series 2014:
105		3.750%, 1/01/20, 144A (Alternative Minimum Tax)	No Opt. Call	N/R	105,832
1,080		4.500%, 1/01/25, 144A (Alternative Minimum Tax)	No Opt. Call	N/R	1,158,170
		Dormitory Authority of the State of New York, Insured Revenue Bonds, Pace University,
		Series 2013A:
820		5.000%, 5/01/23	No Opt. Call	BBB–	892,529
975		5.000%, 5/01/28	5/23 at 100.00	BBB–	1,040,393
20		Dormitory Authority of the State of New York, Insured Revenue Bonds, Pace University,	No Opt. Call	N/R (4)	22,519
		Series 2013A, 5.000%, 5/01/23 (ETM)
25		Dormitory Authority of the State of New York, Insured Revenue Bonds, Pace University,	5/23 at 100.00	N/R (4)	28,037
		Series 2013A, 5.000%, 5/01/28 (Pre-refunded 5/01/23)
10,000		Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2017A,	No Opt. Call	Aa3	11,793,500
		5.000%, 2/15/27 (UB) (6)
1,000		Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed	1/19 at 100.00	B–	1,000,030
		Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26
		New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens
		Baseball Stadium Project, Series 2006:
190		5.000%, 1/01/22 – AMBAC Insured	1/19 at 100.00	BBB	190,483
2,740		5.000%, 1/01/39 – AMBAC Insured	1/19 at 100.00	BBB	2,774,086

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		New York (continued)
$ 3,775		New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds,	No Opt. Call	BBB	$ 3,984,701
		Series 2016A-1, 5.625%, 6/01/35
6,500		New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade	11/24 at 100.00	N/R	6,769,750
		Center Project, Class 2 Series 2014, 5.150%, 11/15/34, 144A
		New York Transportation Development Corporation, New York, Special Facility Revenue Bonds,
		American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:
1,700		5.000%, 8/01/26 (Alternative Minimum Tax)	8/21 at 100.00	BB–	1,771,145
430		5.000%, 8/01/31 (Alternative Minimum Tax)	8/21 at 100.00	BB–	444,009
		New York Transportation Development Corporation, New York, Special Facility Revenue
		Bonds, Delta Air Lines, Inc. – LaGuardia Airport Terminals C&D Redevelopment Project,
		Series 2018:
2,000		5.000%, 1/01/28 (Alternative Minimum Tax)	No Opt. Call	Baa3	2,244,700
2,000		5.000%, 1/01/30 (Alternative Minimum Tax)	1/28 at 100.00	Baa3	2,221,620
		New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia
		Airport Terminal B Redevelopment Project, Series 2016A:
760		4.000%, 7/01/32 (Alternative Minimum Tax)	7/24 at 100.00	BBB	772,137
500		4.000%, 7/01/33 (Alternative Minimum Tax)	7/24 at 100.00	BBB	506,475
		Syracuse Industrial Development Authority, New York, PILOT Revenue Bonds, Carousel
		Center Project, Refunding Series 2016A:
820		5.000%, 1/01/32 (Alternative Minimum Tax)	1/26 at 100.00	A–	883,681
1,450		5.000%, 1/01/35 (Alternative Minimum Tax)	1/26 at 100.00	A–	1,539,451
650		5.000%, 1/01/36 (Alternative Minimum Tax)	1/26 at 100.00	A–	687,635
6,890		TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/45	6/27 at 100.00	B+	6,614,469
45,505		Total New York			48,542,314
		Ohio – 8.7% (6.9% of Total Investments)
		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed
		Revenue Bonds, Senior Lien, Series 2007A-2:
5,165		5.125%, 6/01/24	1/19 at 100.00	B–	4,829,430
16,290		5.750%, 6/01/34	1/19 at 100.00	B–	15,246,788
4,190		Ohio Air Quality Development Authority, Ohio, Air Quality Development Revenue Bonds,	No Opt. Call	N/R	2,880,625
		FirstEnergy Generation Corporation Project, Series 2009A, 5.700%, 8/01/20 (8)
695		Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds,	No Opt. Call	N/R	674,150
		FirstEnergy Generation Corporation Project, Refunding Series 2009C, 5.625%, 6/01/19 (8)
6,000		Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds,	No Opt. Call	N/R	5,820,000
		FirstEnergy Generation Corporation Project, Refunding Series 2009D, 4.250%, 8/01/29
		(Mandatory put 9/15/21) (8)
17,065		Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds,	No Opt. Call	N/R	11,732,188
		FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (8)
320		Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds,	No Opt. Call	N/R	310,400
		FirstEnergy Nuclear Generation Project, Refunding Series 2009A, 4.375%, 6/01/33 (Mandatory
		put 6/01/22)
130		Ohio Air Quality Development Authority, Ohio, Revenue Bonds, AK Steel Holding	2/22 at 100.00	B–	132,604
		Corporation, Refunding Series 2012A, 6.750%, 6/01/24 (Alternative Minimum Tax)
260		Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC	1/28 at 100.00	N/R	256,638
		Project, Series 2017, 4.250%, 1/15/38, 144A (Alternative Minimum Tax)
250		Ohio Water Development Authority, Ohio, Environmental Improvement Bonds, United States	11/21 at 100.00	BB–	255,333
		Steel Corporation Project, Refunding Series 2011, 6.600%, 5/01/29
6,000		Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy	No Opt. Call	N/R	4,125,000
		Nuclear Generating Corporation Project, Series 2006B, 4.000%, 12/01/33
		(Mandatory put 6/03/19) (8)

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Ohio (continued)
$ 2,780		Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health	No Opt. Call	BB–	$ 2,867,459
		System Obligated Group Project, Refunding and Improvement Series 2012, 5.000%, 12/01/22
6,000		State of Ohio, Solid Waste Disposal Revenue Bonds (USG Corporation Project) Series 1997	2/19 at 100.00	BB+	6,007,380
		Remarketed, 5.600%, 8/01/32 (Alternative Minimum Tax)
65,145		Total Ohio			55,137,995
		Oklahoma – 0.6% (0.4% of Total Investments)
3,300		Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds, American Airlines Inc.,	6/25 at 100.00	BB–	3,520,044
		Refunding Series 2015, 5.000%, 6/01/35 (Mandatory put 6/01/25) (Alternative
		Minimum Tax)
		Oregon – 0.3% (0.2% of Total Investments)
1,000		Astoria Hospital Facilities Authority, Oregon, Hospital Revenue and Refunding Bonds,	8/22 at 100.00	A–	1,061,100
		Columbia Memorial Hospital, Series 2012, 5.000%, 8/01/31
730		Port of Saint Helens, Oregon, Pollution Control Revenue Bonds, Boise Cascade Project,	1/19 at 100.00	N/R	729,927
		Series 1997, 5.650%, 12/01/27
1,730		Total Oregon			1,791,027
		Pennsylvania – 7.0% (5.6% of Total Investments)
		Allegheny Country Industrial Development Authority, Pennsylvania, Environmental
		Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009:
3,300		6.750%, 11/01/24	11/19 at 100.00	BB–	3,357,816
420		6.875%, 5/01/30	11/19 at 100.00	BB–	424,095
640		Allegheny County Redevelopment Authority, Pennsylvania, TIF Revenue Bonds, Pittsburg	1/19 at 100.00	N/R	625,690
		Mills Project, Series 2004, 5.600%, 7/01/23
3,685		Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax	5/22 at 100.00	Baa3	3,829,784
		Revenue Bonds, Series 2012A, 5.000%, 5/01/32
420		Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue	No Opt. Call	N/R	288,750
		Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2005A, 4.000%, 1/01/35
		(Mandatory put 7/01/21) (8)
400		Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue	No Opt. Call	N/R	275,000
		Refunding Bonds, FirstEnergy Nuclear Generation Project, Series 2008A, 2.700%, 4/01/35 (8)
4,025		Butler County Industrial Development Authority, Pennsylvania, Revenue Refunding Bonds,	No Opt. Call	B–	4,056,194
		AK Steel Corporation Project, Series 2012-A, 6.250%, 6/01/20 (Alternative Minimum Tax)
1,450		Doylestown Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Series 2013A,	No Opt. Call	BBB–	1,571,786
		5.000%, 7/01/23
825		East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services	7/25 at 100.00	BBB–	873,725
		Inc. – Student Housing Project at Millersville University, Series 2015, 5.000%, 7/01/30
1,000		Montgomery County Industrial Development Authority, Pennsylvania, Revenue Bonds,	1/25 at 100.00	N/R	994,080
		Whitemarsh Continuing Care Retirement Community Project, Series 2015, 5.000%, 1/01/30
1,595		Northampton County Industrial Development Authority, Pennsylvania, Revenue Bonds,	7/22 at 100.00	BB+	1,634,763
		Morningstar Senior Living, Inc., Series 2012, 5.000%, 7/01/27
1,805		Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds,	No Opt. Call	N/R	1,240,938
		Shippingport Project, First Energy Guarantor., Series 2005A, 3.750%, 12/01/40 (Mandatory put
		7/01/20) (8)
6,000		Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue	No Opt. Call	B+	6,007,440
		Refunding Bonds, PPL Energy Supply, LLC Project, Series 2009C, 5.000%, 12/01/37 (Mandatory
		put 9/01/20)
750		Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Revenue	1/20 at 100.00	BBB+	772,838
		Bonds, Philadelphia Biosolids Facility Project, Series 2009, 6.250%, 1/01/32
4,000		Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue	12/18 at 100.00	BB+	3,972,240
		Bonds, USG Corporation Project, Series 1999, 6.000%, 6/01/31 (Alternative Minimum Tax)
4,000		Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of	No Opt. Call	AA	4,557,200
		Philadelphia, Series 2006B, 5.000%, 6/01/27 – AGM Insured

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Pennsylvania (continued)
$ 3,500		Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second	12/27 at 100.00	A3	$ 3,800,685
		Series 2017, 5.000%, 12/01/35
1,610		Scranton, Lackawanna County, Pennsylvania, General Obligation Notes, Series 2016,	5/24 at 100.00	BB+	1,692,899
		5.000%, 11/15/32
4,090		The Hospitals and Higher Education Facilities Authority of Philadelphia, Pennsylvania,	7/27 at 100.00	BBB–	4,346,934
		Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017,
		5.000%, 7/01/34
43,515		Total Pennsylvania			44,322,857
		Puerto Rico – 0.5% (0.4% of Total Investments)
3,500		Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N,	No Opt. Call	C	3,106,250
		3.819%, 7/01/27 – AMBAC Insured
		Rhode Island – 1.5% (1.2% of Total Investments)
		Providence Redevelopment Agency, Rhode Island, Revenue Bonds, Public Safety and
		Municipal Building Projects, Refunding Series 2015A:
1,400		5.000%, 4/01/23 (WI/DD, Settling 12/03/18)	No Opt. Call	Baa2	1,519,826
1,500		5.000%, 4/01/24 (WI/DD, Settling 12/03/18)	No Opt. Call	Baa2	1,648,890
6,000		Rhode Island Health & Educational Building Corporation, Public Schools Financing Program	5/19 at 100.00	AA (4)	6,111,660
		Revenue Bonds, Pooled Series 2009E, 6.000%, 5/15/29 (Pre-refunded 5/15/19) – AGC Insured
8,900		Total Rhode Island			9,280,376
		South Carolina – 1.1% (0.9% of Total Investments)
1,450		South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds,	2/25 at 100.00	BB	1,436,254
		Palmetto Scholars Academy Project, Series 2015A, 5.125%, 8/15/35, 144A
		South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, Bon Secours
		Health System Obligated Group, Tender Option Bond Trust 2016-XG0098:
1,500		14.988%, 11/01/27, 144A (Pre-refunded 11/01/22) (IF) (6)	11/22 at 100.00	A+ (4)	2,129,325
1,010		14.975%, 11/01/28, 144A (Pre-refunded 11/01/22) (IF) (6)	11/22 at 100.00	A+ (4)	1,423,585
1,255		14.988%, 11/01/29, 144A (Pre-refunded 11/01/22) (IF) (6)	11/22 at 100.00	A+ (4)	1,762,158
5,215		Total South Carolina			6,751,322
		Tennessee – 1.2% (1.0% of Total Investments)
2,000		Clarksville Natural Gas Acquisition Corporation, Tennessee, Natural Gas Revenue Bonds,	No Opt. Call	A+	2,139,960
		Series 2006, 5.000%, 12/15/21 – SYNCORA GTY Insured
1,935		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue	1/23 at 100.00	A+	2,123,121
		Bonds, Covenant Health, Refunding Series 2012A, 5.000%, 1/01/26
		Knox County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Bonds,
		Provision Center for Proton Therapy Project, Series 2014:
3,480		5.250%, 5/01/25, 144A	11/24 at 100.00	N/R	3,118,637
525		6.000%, 5/01/34, 144A	11/24 at 100.00	N/R	453,637
7,940		Total Tennessee			7,835,355
		Texas – 5.4% (4.3% of Total Investments)
1,500		Austin, Texas, Special Assessment Revenue Bonds, Estancia Hill Country Public	11/23 at 100.00	N/R	1,525,995
		Improvement District Area 1 Series 2013, 6.000%, 11/01/28
2,000		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A,	7/25 at 100.00	A–	2,139,620
		5.000%, 1/01/40
690		Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Idea	No Opt. Call	BBB+	703,524
		Public Schools, Series 2012, 3.750%, 8/15/22
2,000		Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Tender Option Bond Trust	No Opt. Call	AA+	4,342,560
		3307, 17.206%, 12/01/30 – AMBAC Insured, 144A (IF) (6)
2,000		Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds,	10/22 at 100.00	BB	2,037,220
		Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Texas (continued)
		Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue
		Refunding Bonds, Young Men’s Christian Association of the Greater Houston Area, Series 2013A:
$ 1,500		5.000%, 6/01/20	No Opt. Call	Baa2	$ 1,554,570
535		5.000%, 6/01/21	No Opt. Call	Baa2	565,254
855		5.000%, 6/01/22	No Opt. Call	Baa2	913,037
915		5.000%, 6/01/23	No Opt. Call	Baa2	986,178
3,000		Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc.	No Opt. Call	BB	3,346,410
		Airport Improvement Projects, Series 2018C, 5.000%, 7/15/28 (Alternative Minimum Tax)
200		Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,	No Opt. Call	A3	214,694
		Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%,
		11/01/21 (Alternative Minimum Tax)
1,000		New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing	4/24 at 100.00	BBB–	1,020,530
		Revenue Bonds, CHF-Collegiate Housing Corpus Christi I, L.L.C.-Texas A&M University-Corpus
		Christi Project, Series 2014A, 5.000%, 4/01/34
1,500		Red River Authority, Texas, Pollution Control Revenue Bonds, AEP Texas North Company,	No Opt. Call	A–	1,542,780
		Public Service Company of Oklahoma and AEP Texas Central Company Oklaunion Project,
		Refunding Series 2007, 4.450%, 6/01/20 – NPFG Insured
2,680		San Antonio Public Facilities Corporation, Texas, Lease Revenue Bonds, Convention Center	9/22 at 100.00	AA–	3,897,980
		Refinancing & Expansion Project, Tender Option Bond Trust 2015-XF0125, 15.524%,
		9/15/29, 144A (IF) (6)
		Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital
		Revenue Bonds, Scott & White Healthcare Project, Tender Option Bond Trust 2016-XG0058:
100		15.963%, 8/15/22, 144A (IF) (6)	No Opt. Call	AA–	147,797
155		15.830%, 8/15/24, 144A (IF) (6)	8/23 at 100.00	AA–	244,485
200		15.963%, 8/15/26, 144A (IF) (6)	8/23 at 100.00	AA–	310,460
170		15.803%, 8/15/27, 144A (IF) (6)	8/23 at 100.00	AA–	258,718
1,690		Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds,	No Opt. Call	A–	1,944,345
		Senior Lien Series 2008D, 6.250%, 12/15/26
5,000		Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds,	No Opt. Call	A3	5,474,350
		Series 2012, 5.000%, 12/15/22
1,190		Westlake, Texas, Special Assessment Revenue Bonds, Solana Public Improvement District,	9/25 at 100.00	N/R	1,164,891
		Series 2015, 6.125%, 9/01/35
28,880		Total Texas			34,335,398
		Virgin Islands – 0.3% (0.2% of Total Investments)
1,515		Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior	No Opt. Call	AA	1,611,384
		Lien, Refunding Series 2013B, 5.000%, 10/01/24 – AGM Insured
		Virginia – 1.6% (1.3% of Total Investments)
		Dulles Town Center Community Development Authority, Loudon County, Virginia Special
		Assessment Refunding Bonds, Dulles Town Center Project, Series 2012:
1,265		4.000%, 3/01/20	No Opt. Call	N/R	1,274,563
1,000		5.000%, 3/01/21	No Opt. Call	N/R	1,031,800
1,410		5.000%, 3/01/22	No Opt. Call	N/R	1,465,427
		Fairfax County Industrial Development Authority, Virginia, Healthcare Revenue Bonds,
		Inova Health System, Tender Option Bond Trust 2016-XG0080:
1,800		15.959%, 5/15/27, 144A (IF) (6)	5/22 at 100.00	AA+	2,600,352
120		15.959%, 5/15/28, 144A (IF) (6)	5/22 at 100.00	AA+	172,733
400		10.968%, 5/15/29, 144A (IF) (6)	5/22 at 100.00	AA+	510,176
1,000		Roanoke Economic Development Authority, Virginia, Residential Care Facility Mortgage	12/22 at 100.00	N/R	1,029,120
		Revenue Refunding Bonds, Virginia Lutheran Homes Brandon Oaks Project, Series 2012,
		5.000%, 12/01/32

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Virginia (continued)
		Virginia Gateway Community Development Authority, Prince William County, Virginia,
		Special Assessment Refunding Bonds, Series 2012:
$ 695		5.000%, 3/01/25	3/22 at 100.00	N/R	$ 703,861
145		4.500%, 3/01/29	3/22 at 100.00	N/R	137,894
1,505		5.000%, 3/01/30	3/22 at 100.00	N/R	1,510,237
9,340		Total Virginia			10,436,163
		Washington – 2.7% (2.1% of Total Investments)
4,000		Port of Seattle, Washington, Revenue Bonds, Series 2016B, 5.000%, 10/01/32 (Alternative	4/26 at 100.00	Aa2	4,454,080
		Minimum Tax) (UB) (6)
375		Tacoma Consolidated Local Improvement District 65, Washington, Special Assessment Bonds,	4/19 at 100.00	N/R	374,921
		Series 2013, 5.750%, 4/01/43
5,000		Washington Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative,	7/24 at 100.00	BBB+	5,301,250
		Tender Option Bonds Trust 2015-XF1017, 4.849%, 1/01/35 (Mandatory put
		1/01/25), 144A (IF) (6)
		Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Mirabella
		Project, Series 2012A:
2,315		6.000%, 10/01/22, 144A	No Opt. Call	N/R	2,458,877
2,095		6.500%, 10/01/32, 144A	10/22 at 100.00	N/R	2,218,689
		Washington State Housing Finance Commission, Non-Profit Revenue Bonds, Emerald Heights
		Project, Refunding 2013:
1,000		5.000%, 7/01/21	No Opt. Call	A–	1,065,300
1,000		5.000%, 7/01/23	No Opt. Call	A–	1,097,440
15,785		Total Washington			16,970,557
		West Virginia – 0.3% (0.2% of Total Investments)
1,170		West Virginia Economic Development Authority, Energy Revenue Bonds, Morgantown Energy	No Opt. Call	Baa3	1,124,253
		Associates Project, Refunding Series 2016, 2.875%, 12/15/26 (Alternative Minimum Tax)
500		West Virginia Economic Development Authority, Excess Lottery Revenue Bonds, Series	7/27 at 100.00	AAA	578,635
		2017A, 5.000%, 7/01/30
1,670		Total West Virginia			1,702,888
		Wisconsin – 3.1% (2.4% of Total Investments)
1,740		Green Bay Redevelopment Authority, Wisconsin, Industrial Development Revenue Bonds, Fort	No Opt. Call	N/R	1,757,069
		James Project, Series 1999, 5.600%, 5/01/19 (Alternative Minimum Tax)
		Oneida Tribe of Indians of Wisconsin, Retail Sales Revenue Bonds, Series 2011-144A:
2,475		5.500%, 2/01/21, 144A	2/19 at 102.00	BBB+	2,535,118
350		6.500%, 2/01/31, 144A	2/19 at 102.00	BBB+	359,048
415		Platteville Redevelopment Authority, Wisconsin, Revenue Bonds, University of Wisconsin -	7/22 at 100.00	BBB–	422,586
		Platteville Real Estate Foundation Project, Series 2012A, 5.000%, 7/01/42
		Public Finance Authority of Wisconsin, Educational Facility Revenue Bonds, Cottonwood
		Classical Preparatory School in Albuquerque, New Mexico, Series 2012A:
860		5.250%, 12/01/22	No Opt. Call	N/R	858,469
1,610		6.000%, 12/01/32	12/22 at 100.00	N/R	1,612,818
2,635		Public Finance Authority of Wisconsin, Limited Obligation Grant Revenue Bonds, American	No Opt. Call	N/R	2,829,489
		Dream @ Meadowlands Project, Series 2017A, 6.250%, 8/01/27, 144A
		Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American
		Dream @ Meadowlands Project, Series 2017:
1,200		5.000%, 12/01/27, 144A	No Opt. Call	N/R	1,248,468
1,000		6.500%, 12/01/37, 144A	12/27 at 100.00	N/R	1,108,330
485		Public Finance Authority of Wisconsin, Revenue Bonds, Prime Healthcare Foundation, Inc.,	No Opt. Call	N/R	503,959
		Series 2017A, 5.000%, 12/01/27
480		Public Finance Authority of Wisconsin, Revenue Bonds, Roseman University of Health	No Opt. Call	BB	500,510
		Sciences, Series 2012, 5.000%, 4/01/22

NID	Nuveen Intermediate Duration Municipal Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Wisconsin (continued)
$ 2,085		Public Finance Authority of Wisconsin, Senior Airport Facilities Revenue and Refunding	No Opt. Call	BBB	$ 2,188,979
		Bonds, Trips Obligated Group, Series 2012B, 5.000%, 7/01/22 (Alternative Minimum Tax)
1,115		Public Finance Authority of Wisconsin, Student Housing Revenue Bonds, Collegiate Housing	7/25 at 100.00	BBB–	1,172,947
		Foundation – Cullowhee LLC – Western California University Project, Series 2015A, 5.000%,
		7/01/30
1,405		Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter	6/26 at 100.00	BBB–	1,415,903
		School, Series 2018A, 4.000%, 6/15/28, 144A
		University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option
		Bond Trust 2015-XF0127:
50		14.440%, 4/01/22, 144A (IF) (6)	No Opt. Call	AA–	70,435
100		14.939%, 4/01/23, 144A (IF) (6)	No Opt. Call	AA–	152,401
185		14.703%, 4/01/24, 144A (IF) (6)	4/23 at 100.00	AA–	279,006
100		14.939%, 4/01/25, 144A (IF) (6)	4/23 at 100.00	AA–	151,603
250		Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health	4/20 at 100.00	A–	256,075
		System, Inc., Series 2010B, 5.000%, 4/01/30
18,540		Total Wisconsin			19,423,213
$ 770,512		Total Long-Term Investments (cost $799,022,726)			793,362,868
		Floating Rate Obligations – (1.8)%			(11,200,000)
		Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs – (27.6)% (9)			(174,835,951)
		Other Assets Less Liabilities – 4.0% (10)			25,582,272
		Net Assets Applicable to Common Shares – 100%			$ 632,909,189

Notional  Amount	Fund  Pay/Receive  Floating Rate	Floating Rate Index	Fixed Rate  (Annualized)	Fixed Rate  Payment  Frequency	Effective  Date (11)	Maturity  Date	Value	Premiums  Paid  (Received)	Unrealized  Appreciation  (Depreciation)	Variation  Margin  Receivable/  (Payable)
$6,200,000	Receive	3-Month LIBOR	2.363%	Semi-Annually	9/10/18	9/10/28	$56,230	$480	$55,750	$(11,957)

(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)	Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.
(5)	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.
(6)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
(7)	Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board. For fair value measurement disclosure purposes, investment classified as Level 3. See Notes to Financial Statements, Note 2 – Investment Valuation and Fair Value Measurements for more information.
(8)	As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.
(9)	Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 22.0%.
(10)	Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as presented on the Statement of Assets and Liabilities, when applicable. The unrealized appreciation (depreciation) of OTC cleared and exchange-traded derivatives is recognized as part of the cash collateral at brokers and/or the receivable or payable for variation margin as presented on the Statement of Assets and Liabilities, when applicable.
(11)	Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.
144A	Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
ETM	Escrowed to maturity.
IF	Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.
PIK	Payment-in-kind (“PIK”) security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.
UB	Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities for more information.
WI/DD	Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
LIBOR	London Inter-Bank Offered Rate

NIQ	Nuveen Intermediate Duration Quality
	Municipal Term Fund
	Portfolio of Investments
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		LONG-TERM INVESTMENTS – 127.8% (100.0% of Total Investments)
		MUNICIPAL BONDS – 127.8% (100.0% of Total Investments)
		Alabama – 2.4% (1.9% of Total Investments)
$ 2,000		Alabama Federal Aid Highway Finance Authority, Federal Highway Grant Anticipation	9/22 at 100.00	AA (4)	$ 3,049,400
		Revenue Bonds, Tender Option Bond Trust 2016-XL0024, 15.355%, 9/01/26, 144A
		(Pre-refunded 9/01/22) (IF) (5)
1,000		Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A,	No Opt. Call	A3	1,141,060
		5.000%, 9/01/34
3,000		Total Alabama			4,190,460
		Arizona – 1.8% (1.4% of Total Investments)
		Arizona Health Facilities Authority, Hospital Revenue Bonds, Phoenix Children’s
		Hospital, Series 2013D:
965		5.000%, 2/01/24	2/23 at 100.00	A+	1,046,755
1,065		5.000%, 2/01/26	2/23 at 100.00	A+	1,151,425
1,000		University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series	No Opt. Call	N/R (4)	1,017,220
		2011, 5.000%, 7/01/19 (ETM)
3,030		Total Arizona			3,215,400
		California – 15.5% (12.1% of Total Investments)
3,000		Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior	10/23 at 100.00	AA	3,375,360
		Lien Series 2013A, 5.000%, 10/01/27 – AGM Insured
500		California Health Facilities Financing Authority, California, Revenue Bonds, Sutter	11/27 at 100.00	AA–	566,000
		Health, Refunding Series 2017A, 5.000%, 11/15/36
		California Municipal Finance Authority, Revenue Bonds, Biola University, Series 2013:
560		5.000%, 10/01/19	No Opt. Call	Baa1	574,129
415		5.000%, 10/01/21	No Opt. Call	Baa1	446,764
2,170		California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien	6/28 at 100.00	N/R	2,332,620
		Series 2018A, 5.000%, 12/31/43 (Alternative Minimum Tax)
1,930		California Statewide Communities Development Authority, California, Revenue Bonds, Loma	12/24 at 100.00	BB	2,047,595
		Linda University Medical Center, Series 2014A, 5.250%, 12/01/34
3,335		Eastern Municipal Water District Financing Authority, California, Water and Wastewater	7/27 at 100.00	AA+	3,903,051
		Revenue Bonds, Series 2017D, 5.250%, 7/01/42
860		Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds,	No Opt. Call	A–	901,435
		Rancho Vallecitos Mobile Home Park, Series 2013, 4.500%, 4/15/23
		Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement
		Asset-Backed Bonds, Series 2007A. Turbo Current Interest:
1,035		5.000%, 6/01/21	1/19 at 100.00	N/R	1,035,041
825		4.625%, 6/01/21	1/19 at 100.00	N/R	822,278
		Jurupa Community Services District, California, Special Tax Bonds, Community Facilities
		District 31 Eastvale Area, Series 2013:
150		4.000%, 9/01/25	9/22 at 100.00	N/R	154,034
305		4.000%, 9/01/26	9/22 at 100.00	N/R	312,012
250		4.000%, 9/01/27	9/22 at 100.00	N/R	255,130
365		Palomar Pomerado Health Care District, California, Certificates of Participation, Series	11/20 at 100.00	Ba1 (4)	381,491
		2010, 5.250%, 11/01/21 (Pre-refunded 11/01/20)
1,790		Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities	No Opt. Call	N/R	1,942,150
		District 2001-1, Senior Series 2013A , 5.000%, 9/01/22
185		Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series	No Opt. Call	A (4)	191,148
		2011A, 0.000%, 10/01/26 (ETM) (6)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		California (continued)
$ 1,500		San Diego Association of Governments, California, South Bay Expressway Toll Revenue	7/27 at 100.00	A	$ 1,691,700
		Bonds, First Senior Lien Series 2017A, 5.000%, 7/01/36
2,000		San Francisco Airports Commission, California, Revenue Bonds, San Francisco	No Opt. Call	A+	2,389,720
		International Airport, Second Series 2016A, 5.000%, 5/01/26
1,400		San Joaquin County Transportation Authority, California, Sales Tax Revenue, Limited Tax	3/27 at 100.00	AA	1,637,370
		Measure K Series 2017, 5.000%, 3/01/32
530		Vernon, California, Electric System Revenue Bonds, Series 2009A, 5.125%, 8/01/21	8/19 at 100.00	N/R (4)	542,031
		(Pre-refunded 8/01/19)
895		Vernon, California, Electric System Revenue Bonds, Series 2009A, 5.125%, 8/01/21	8/19 at 100.00	A–	911,396
925		Washington Township Health Care District, California, Revenue Bonds, Series 2009A,	7/19 at 100.00	Baa1	941,511
		6.000%, 7/01/29
24,925		Total California			27,353,966
		Colorado – 10.0% (7.8% of Total Investments)
		Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue
		Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013:
310		4.000%, 6/01/20	No Opt. Call	A+	317,545
250		5.000%, 6/01/21	No Opt. Call	A+	265,755
5,000		Colorado Springs, Colorado, Utilities System Revenue Bonds, Refunding Series 2017A-2,	11/27 at 100.00	AA	5,608,146
		5.000%, 11/15/47
		Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System
		Revenue Bonds, Tender Option Bond Trust 2016-XF2354:
100		15.959%, 3/01/25, 144A (IF) (5)	No Opt. Call	AA	177,012
300		15.959%, 3/01/26, 144A (IF) (5)	No Opt. Call	AA	552,456
430		15.927%, 3/01/27, 144A (IF) (5)	No Opt. Call	AA	812,618
725		15.959%, 3/01/28, 144A (IF) (5)	No Opt. Call	AA	1,396,365
200		15.959%, 3/01/29, 144A (IF) (5)	No Opt. Call	AA	392,080
1,870		Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center	12/26 at 100.00	Baa2	2,071,137
		Hotel, Refunding Senior Lien Series 2016, 5.000%, 12/01/30
350		E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%,	No Opt. Call	A	326,778
		9/01/21 – NPFG Insured
1,000		Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado	No Opt. Call	A+	1,346,550
		Springs Utilities, Series 2008, 6.500%, 11/15/38
4,000		University of Northern Colorado at Greeley, Institutional Enterprise System Revenue	6/26 at 100.00	Aa2	4,368,839
		Bonds, Refunding Series 2016A, 5.000%, 6/01/46
14,535		Total Colorado			17,635,281
		Florida – 10.4% (8.2% of Total Investments)
		Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing
		Project, Series 2013A:
420		5.000%, 11/15/20	No Opt. Call	BBB	439,664
150		5.000%, 11/15/23	No Opt. Call	BBB	163,551
460		Belmont Community Development District, Florida, Capital Improvement Revenue Bonds,	No Opt. Call	N/R	485,691
		Phase 1 Project, Series 2013A, 5.500%, 11/01/23
1,270		Broward County, Florida, Fuel System Revenue Bonds, Fort Lauderdale Fuel Facilities LLC	No Opt. Call	AA	1,389,431
		Project, Series 2013A, 5.000%, 4/01/23 – AGM Insured (Alternative Minimum Tax)
1,740		Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2017,	10/27 at 100.00	A+	1,991,465
		5.000%, 10/01/33
390		Capital Trust Agency, Florida, Fixed Rate Air Cargo Revenue Refunding Bonds, Aero	7/20 at 100.00	Baa3	400,468
		Miami FX, LLC Project, Series 2010A, 5.350%, 7/01/29
1,610		Collier County Educational Facilities Authority, Florida, Revenue Bonds, Ave Maria	No Opt. Call	BBB–	1,643,456
		University, Refunding Series 2013A, 4.500%, 6/01/23
1,000		Florida Mid-Bay Bridge Authority, Revenue Bonds, 1st Senior Lien Series 2015A,	No Opt. Call	BBB+	1,110,050
		5.000%, 10/01/23

NIQ	Nuveen Intermediate Duration Quality Municipal
	Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Florida (continued)
$ 2,960		Florida Municipal Power Agency, Revenue Bonds, Saint Lucie Project, Refunding Series	10/22 at 100.00	A2	$ 3,215,152
		2012A, 5.000%, 10/01/26
500		Gainesville, Florida, Utilities System Revenue Bonds, Series 2017A, 5.000%, 10/01/37	10/27 at 100.00	AA–	570,180
		Martin County Industrial Development Authority, Florida, Industrial Development Revenue
		Refunding Bonds, Indiantown Cogeneration LP, Series 2013:
3,150		3.950%, 12/15/21, 144A (Alternative Minimum Tax)	6/20 at 100.00	BBB+	3,207,204
500		4.200%, 12/15/25, 144A (Alternative Minimum Tax)	6/20 at 100.00	BBB+	506,510
1,400		Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical	No Opt. Call	BBB+	1,514,226
		Center, Series 2013A, 5.000%, 11/01/22
510		Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole	5/28 at 100.00	A–	557,216
		Electric Cooperative, Inc. Project, Refunding Series 2018B, 5.000%, 3/15/42
305		Southeast Overtown/Park West Community Redevelopment Agency, Florida, Tax Increment	No Opt. Call	BBB+	336,705
		Revenue Bonds, Series 2014A-1, 5.000%, 3/01/24, 144A
1,055		Verandah West Community Development District, Florida, Capital Improvement Revenue	No Opt. Call	N/R	1,050,337
		Bonds, Refunding Series 2013, 4.000%, 5/01/23
17,420		Total Florida			18,581,306
		Georgia – 1.7% (1.3% of Total Investments)
1,025		Atlanta, Georgia, Tax Allocation Bonds, Perry Bolton Project Series 2014,	No Opt. Call	A–	1,079,048
		4.000%, 7/01/22
1,000		Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation	2/27 at 100.00	AA–	1,155,460
		Certificates, Northeast Georgia Health Services Inc., Series 2017B, 5.500%, 2/15/42
824		Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2012A-2,	1/19 at 100.00	N/R	713,018
		3.930%, 7/01/26
2,849		Total Georgia			2,947,526
		Hawaii – 1.9% (1.4% of Total Investments)
3,000		Honolulu City and County, Hawaii, Wastewater System Revenue Bonds, First Bond	1/28 at 100.00	Aa2	3,422,310
		Resolution, Senior Series 2018A, 5.000%, 7/01/37
		Illinois – 11.6% (9.1% of Total Investments)
2,500		Cook County, Illinois, General Obligation Bonds, Tender Option Bond Trust 2015-XF1007,	11/22 at 100.00	AA–	3,293,250
		12.666%, 11/15/25, 144A (IF) (5)
550		Hillside, Cook County, Illinois, Tax Increment Revenue Bonds, Mannheim Redevelopment	1/19 at 100.00	N/R	558,839
		Project, Senior Lien Series 2008, 6.550%, 1/01/20
2,680		Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding	1/19 at 100.00	Baa3	2,680,616
		Series 2006A, 5.000%, 4/01/24
4,000		Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Refunding Series	8/25 at 100.00	A1	4,536,359
		2015A, 5.000%, 2/01/27
5,000		Illinois State, General Obligation Bonds, Series 2013, 5.000%, 7/01/23	No Opt. Call	BBB	5,258,249
790		Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien	No Opt. Call	AA–	812,997
		Series 2014A, 5.000%, 12/01/19
290		Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College	11/26 at 100.00	AA	318,580
		District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding
		Series 2017A, 5.000%, 11/01/33 – AGM Insured
1,000		Southwestern Illinois Development Authority, Local Government Revenue Bonds,	No Opt. Call	AA	881,670
		Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 –
		AGM Insured
2,000		Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/33	3/25 at 100.00	A	2,187,520
18,810		Total Illinois			20,528,080

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Indiana – 1.6% (1.3% of Total Investments)
$ 1,145		Indiana Finance Authority, Educational Facilities Revenue Bonds, 21st Century Charter	3/23 at 100.00	B+	$ 1,141,622
		School Project, Series 2013A, 6.000%, 3/01/33
1,500		Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series	No Opt. Call	AA+	1,719,390
		2015A, 5.000%, 2/01/25
2,645		Total Indiana			2,861,012
		Iowa – 1.6% (1.3% of Total Investments)
855		Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer	6/19 at 105.00	B	903,992
		Company Project, Series 2016, 5.875%, 12/01/27, 144A
2,000		Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,	1/19 at 100.00	BB–	2,000,540
		5.600%, 6/01/34 (6)
2,855		Total Iowa			2,904,532
		Kentucky – 2.7% (2.2% of Total Investments)
		Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky
		Information Highway Project, Senior Series 2015A:
1,350		5.000%, 7/01/20	No Opt. Call	BBB+	1,397,291
925		4.250%, 7/01/35	7/25 at 100.00	BBB+	910,875
3,000		Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,	No Opt. Call	Baa3	2,551,620
		Downtown Crossing Project, Capital Appreciation Series 2013B, 0.000%, 7/01/23
5,275		Total Kentucky			4,859,786
		Louisiana – 1.0% (0.7% of Total Investments)
530		New Orleans Aviation Board, Louisiana, Special Facility Revenue Bonds, Parking	10/28 at 100.00	AA	586,132
		Facilities Corporation Consolidated Garage System, Series 2018A, 5.000%, 10/01/43 –
		AGM Insured
1,000		New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/22	No Opt. Call	A–	1,094,920
1,530		Total Louisiana			1,681,052
		Maine – 3.0% (2.3% of Total Investments)
1,000		Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine	7/23 at 100.00	BBB	1,048,250
		Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/33
		Maine Health and Higher Educational Facilities Authority Revenue Bonds, MaineHealth
		Issue, Series 2018A:
435		5.000%, 7/01/43	7/28 at 100.00	A+	479,140
565		5.000%, 7/01/48	7/28 at 100.00	A+	618,856
		Maine Turnpike Authority, Special Obligation Bonds, Series 2014:
620		5.000%, 7/01/25	7/24 at 100.00	A+	696,062
340		5.000%, 7/01/27	7/24 at 100.00	A+	379,097
1,850		5.000%, 7/01/29	7/24 at 100.00	A+	2,050,633
4,810		Total Maine			5,272,038
		Maryland – 1.3% (1.0% of Total Investments)
615		Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017,	9/27 at 100.00	BBB–	678,819
		5.000%, 9/01/32
		Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick
		Memorial Hospital Issue, Series 2012A:
195		5.000%, 7/01/20	No Opt. Call	A–	203,137
275		5.000%, 7/01/22	No Opt. Call	A–	299,156
1,000		Prince George’s County, Maryland, General Obligation Consolidated Public Improvement	9/21 at 100.00	AAA	1,080,430
		Bonds, Series 2011A, 5.000%, 9/15/22 (Pre-refunded 9/15/21)
2,085		Total Maryland			2,261,542

NIQ	Nuveen Intermediate Duration Quality Municipal
	Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Massachusetts – 1.3% (1.0% of Total Investments)
$ 420		Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue,	7/22 at 100.00	BBB	$ 446,006
		Series 2012C, 5.000%, 7/01/29
		Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue,
		Series 2012C:
80		5.000%, 7/01/29 (Pre-refunded 7/01/22)	7/22 at 100.00	N/R (4)	87,659
500		5.000%, 7/01/29 (Pre-refunded 7/01/22)	7/22 at 100.00	Baa2 (4)	547,870
		Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc.,
		Series 2001A:
140		5.000%, 1/01/21 – AMBAC Insured (Alternative Minimum Tax)	1/19 at 100.00	N/R	141,175
1,000		5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)	1/19 at 100.00	N/R	1,018,690
2,140		Total Massachusetts			2,241,400
		Michigan – 5.7% (4.5% of Total Investments)
1,000		Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Tender	No Opt. Call	AA	1,950,410
		Option Bond Trust 3308, 16.526%, 5/01/30 – AGM Insured, 144A (IF) (5)
5		Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B,	1/19 at 100.00	A	5,010
		5.000%, 7/01/36 – FGIC Insured
5		Detroit, Michigan, Water Supply System Revenue Bonds, Second Lien Series 2003B, 5.000%,	1/19 at 100.00	A+	5,011
		7/01/34 – NPFG Insured
730		Flint Hospital Building Authority, Michigan, Building Authority Revenue Bonds, Hurley	No Opt. Call	BBB–	764,493
		Medical Center, Series 2013A, 5.000%, 7/01/23
2,020		Michigan Finance Authority, Hospital Revenue Bonds, Crittenton Hospital Medical Center,	6/22 at 100.00	N/R (4)	2,154,209
		Refunding Series 2012A, 4.125%, 6/01/32 (Pre-refunded 6/01/22)
3,000		Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water &	No Opt. Call	AA	3,342,870
		Sewerage Department Water Supply System Local Project, Refunding Senior Loan Series 2014D-1,
		5.000%, 7/01/23 – AGM Insured
80		Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Old	No Opt. Call	BB–	79,925
		Redford Academy Project, Series 2010A, 5.250%, 12/01/20
		Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Tender Option
		Bond Trust 2015-XF0126:
12		15.423%, 12/01/27 (Pre-refunded 12/01/20), 144A (IF) (5)	12/20 at 100.00	N/R (4)	15,190
1,393		15.423%, 12/01/27, 144A (IF) (5)	12/20 at 100.00	AA–	1,763,357
8,245		Total Michigan			10,080,475
		Minnesota – 1.2% (1.0% of Total Investments)
550		Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding	1/26 at 100.00	A–	625,257
		Series 2016, 5.000%, 1/01/27
750		Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center	No Opt. Call	A	782,318
		Project, Series 2013, 5.000%, 7/01/20
		Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Saint
		Paul Conservatory for Performing Artists Charter School Project, Series 2013A:
205		3.550%, 3/01/21	No Opt. Call	BB+	202,513
100		3.700%, 3/01/22	No Opt. Call	BB+	98,376
500		Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd	No Opt. Call	N/R	500,685
		Luthran Home, Refunding Series 2013, 5.000%, 1/01/19
2,105		Total Minnesota			2,209,149
		Mississippi – 1.6% (1.3% of Total Investments)
		Mississippi Development Bank Special Obligation Bonds, Marshall County Industrial
		Development Authority, Mississippi Highway Construction Project, Tender Option Bond Trust 3315:
800		15.959%, 1/01/24 (Pre-refunded 1/01/22), 144A (IF) (5)	1/22 at 100.00	AA- (4)	1,147,352
1,000		15.959%, 1/01/25 (Pre-refunded 1/01/22), 144A (IF) (5)	1/22 at 100.00	AA- (4)	1,434,190
200		15.959%, 1/01/26 (Pre-refunded 1/01/22), 144A (IF) (5)	1/22 at 100.00	AA- (4)	286,838
2,000		Total Mississippi			2,868,380

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Missouri – 1.9% (1.4% of Total Investments)
$ 90		Franklin County Industrial Development Authority, Missouri, Sales Tax Refunding Revenue	11/20 at 100.00	N/R	$ 87,559
		Bonds, Phoenix Center II Community Improvement District Project, Series 2013A,
		4.000%, 11/01/25
3,000		Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum	No Opt. Call	A	3,305,550
		Point Project, Refunding Series 2014A, 5.000%, 1/01/23
3,090		Total Missouri			3,393,109
		Montana – 1.4% (1.1% of Total Investments)
		Montana Facility Finance Authority, Healthcare Facility Revenue Bonds, Kalispell
		Regional Medical Center, Series 2018B:
985		5.000%, 7/01/28	No Opt. Call	BBB	1,112,183
1,270		5.000%, 7/01/29	7/28 at 100.00	BBB	1,423,378
2,255		Total Montana			2,535,561
		Nebraska – 1.8% (1.4% of Total Investments)
3,000		Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012,	9/22 at 100.00	A	3,228,360
		5.000%, 9/01/32
		Nevada – 2.6% (2.0% of Total Investments)
515		Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project,	9/27 at 100.00	BBB+	550,319
		Series 2017A, 5.000%, 9/01/47
1,000		Las Vegas Convention and Visitors Authority, Nevada, Revenue Bonds, Series 2018C,	7/28 at 100.00	Aa3	1,131,780
		5.250%, 7/01/43
		Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Refunding
		Series 2016:
1,295		5.000%, 6/15/26	No Opt. Call	BBB+	1,475,899
1,210		5.000%, 6/15/27	6/26 at 100.00	BBB+	1,367,675
4,020		Total Nevada			4,525,673
		New Jersey – 5.3% (4.2% of Total Investments)
615		New Jersey Economic Development Authority, Charter School Revenue Bonds, Lady Liberty	No Opt. Call	N/R	369,000
		Academy Charter School Project, Series 2013A, 5.150%, 8/01/23 (7)
		New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds,
		Series 2012:
2,000		5.000%, 6/15/24	6/22 at 100.00	BBB+	2,133,040
1,000		5.000%, 6/15/28	6/22 at 100.00	BBB+	1,053,480
		New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge
		Replacement Project, Series 2013:
860		5.000%, 1/01/21 (Alternative Minimum Tax)	No Opt. Call	BBB	902,123
500		5.000%, 1/01/22 (Alternative Minimum Tax)	No Opt. Call	BBB	533,705
500		5.000%, 7/01/22 (Alternative Minimum Tax)	No Opt. Call	BBB	538,045
620		5.000%, 1/01/23 (Alternative Minimum Tax)	No Opt. Call	BBB	671,677
1,000		New Jersey Economic Development Authority, School Facilities Construction Financing	3/25 at 100.00	A–	879,930
		Program Bonds, Tender Option Bond Trust 2016-XF2340, 5.031%, 9/01/25, 144A (IF) (5)
1,000		New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental	8/22 at 101.00	BB	1,077,850
		Airlines Inc., Series 1999, 5.250%, 9/15/29 (Alternative Minimum Tax)
800		New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint	1/19 at 100.00	BB+	801,184
		Peters University Hospital, Series 2007, 5.250%, 7/01/21
450		Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed	6/28 at 100.00	BBB	451,247
		Bonds, Series 2018B, 5.000%, 6/01/46
9,345		Total New Jersey			9,411,281

NIQ	Nuveen Intermediate Duration Quality Municipal
	Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		New York – 3.8% (3.0% of Total Investments)
$ 495		Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue	7/25 at 100.00	BBB+	$ 542,703
		Bonds, Catholic Health System, Inc. Project, Series 2015, 5.000%, 7/01/29
3,545		Long Island Power Authority, New York, Electric System General Revenue Bonds, Series	9/27 at 100.00	A–	3,922,612
		2017, 5.000%, 9/01/42
2,000		New York Convention Center Development Corporation, New York, Revenue Bonds, Hotel Unit	No Opt. Call	Aa3	2,325,340
		Fee Secured, Refunding Series 2015, 5.000%, 11/15/25
6,040		Total New York			6,790,655
		North Carolina – 0.2% (0.2% of Total Investments)
400		North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series	1/19 at 100.00	AA (4)	401,048
		2009A, 5.250%, 1/01/25 (Pre-refunded 1/01/19) – AGC Insured
		Ohio – 3.8% (3.0% of Total Investments)
3,500		Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed	1/19 at 100.00	B–	3,325,035
		Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/30
3,000		Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds,	No Opt. Call	N/R	2,062,500
		FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (7)
1,150		Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC – Borrower, Portsmouth	6/25 at 100.00	AA	1,279,720
		Bypass Project, Series 2015, 5.000%, 12/31/27 – AGM Insured (Alternative Minimum Tax)
7,650		Total Ohio			6,667,255
		Oklahoma – 0.2% (0.1% of Total Investments)
255		Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine	8/28 at 100.00	Baa3	273,368
		Project, Series 2018B, 5.250%, 8/15/43
		Oregon – 0.6% (0.5% of Total Investments)
965		Astoria Hospital Facilities Authority, Oregon, Hospital Revenue and Refunding Bonds,	No Opt. Call	A–	1,048,627
		Columbia Memorial Hospital, Series 2012, 5.000%, 8/01/22
		Pennsylvania – 4.1% (3.2% of Total Investments)
90		East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services	No Opt. Call	BBB–	90,662
		Inc. – Student Housing Project at Millersville University, Series 2013, 4.000%, 7/01/19
		Erie Higher Education Building Authority, Pennsylvania, Revenue Bonds, Gannon University
		Project, Series 2013:
465		4.000%, 5/01/20	No Opt. Call	BBB+	474,584
480		4.000%, 5/01/21	No Opt. Call	BBB+	495,014
500		4.000%, 5/01/22	No Opt. Call	BBB+	519,530
520		4.000%, 5/01/23	No Opt. Call	BBB+	542,844
2,190		Erie Sewer Authority, Erie County, Pennsylvania, Sewer Revenue Bonds, Series 2012A,	No Opt. Call	AA	2,329,656
		5.000%, 6/01/21 – AGM Insured
1,700		Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds,	6/26 at 100.00	BBB	1,861,194
		Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 6/30/28 (Alternative
		Minimum Tax)
		Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc.,
		Series 2013:
370		5.000%, 12/01/20	No Opt. Call	A+	389,784
435		5.000%, 12/01/21	No Opt. Call	A+	467,312
6,750		Total Pennsylvania			7,170,580
		South Carolina – 2.4% (1.9% of Total Investments)
2,000		South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,	6/22 at 100.00	A+	2,058,660
		Refunding Series 2012D, 5.000%, 12/01/43
2,000		South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding	6/24 at 100.00	A+	2,143,540
		Series 2014B, 5.000%, 12/01/31
4,000		Total South Carolina			4,202,200

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Tennessee – 9.4% (7.4% of Total Investments)
$ 2,605		Greeneville Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds,	7/28 at 100.00	A	$ 2,867,949
		Ballad Health, Series 2018A, 5.000%, 7/01/37
		Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue
		Bonds, Covenant Health, Refunding Series 2012A:
1,440		5.000%, 1/01/25	1/23 at 100.00	A+	1,583,150
2,170		5.000%, 1/01/26	1/23 at 100.00	A+	2,380,967
2,000		Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2010B,	7/20 at 100.00	A	2,104,620
		5.750%, 7/01/22 (Alternative Minimum Tax)
450		Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage	7/27 at 100.00	AA	507,794
		Revenue Bonds, Green Series 2017A, 5.000%, 7/01/42
2,290		Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital	10/28 at 100.00	A	2,515,611
		Project, Series 2018A, 5.000%, 4/01/35
400		The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006B,	No Opt. Call	BBB	454,692
		5.625%, 9/01/26
		The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C:
1,020		5.000%, 2/01/21	No Opt. Call	A	1,072,061
1,490		5.000%, 2/01/24	No Opt. Call	A	1,643,723
1,365		5.000%, 2/01/25	No Opt. Call	A	1,525,701
15,230		Total Tennessee			16,656,268
		Texas – 9.1% (7.1% of Total Investments)
500		Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien	No Opt. Call	BBB+	532,945
		Series 2013, 5.000%, 1/01/22
200		Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010,	1/20 at 100.00	A- (4)	208,152
		5.750%, 1/01/25 (Pre-refunded 1/01/20)
685		Denton County Fresh Water Supply District 7, Texas, General Obligation Bonds, Refunding	No Opt. Call	AA	708,653
		Series 2013, 4.000%, 2/15/21 – AGM Insured
2,000		Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds,	10/22 at 100.00	BB	2,037,220
		Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)
		Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien
		Series 2014C:
230		5.000%, 11/15/22	No Opt. Call	A3	250,268
1,660		5.000%, 11/15/23	No Opt. Call	A3	1,833,437
960		5.000%, 11/15/25	11/24 at 100.00	A3	1,070,275
515		Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and	No Opt. Call	A2	526,510
		Entertainment Facilities Department, Refunding Series 2011A, 5.250%, 9/01/19
		Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B:
465		4.000%, 8/15/22	8/19 at 100.00	BBB+	467,813
535		4.000%, 8/15/23	8/19 at 100.00	BBB+	537,354
100		Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,	No Opt. Call	A3	105,030
		Southwest Airlines Company – Love Field Modernization Program Project, Series 2012, 5.000%,
		11/01/20 (Alternative Minimum Tax)
		Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital
		Revenue Bonds, Scott & White Healthcare Project, Tender Option Bond Trust 2016-XG0058:
100		15.963%, 8/15/22, 144A (IF) (5)	No Opt. Call	AA–	147,797
155		15.830%, 8/15/24, 144A (IF) (5)	8/23 at 100.00	AA–	244,484
200		15.963%, 8/15/26, 144A (IF) (5)	8/23 at 100.00	AA–	310,460
175		15.803%, 8/15/27, 144A (IF) (5)	8/23 at 100.00	AA–	266,327
2,790		Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds,	No Opt. Call	A–	3,209,895
		Senior Lien Series 2008D, 6.250%, 12/15/26
3,000		Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds,	12/22 at 100.00	A3	3,246,090
		Series 2012, 5.000%, 12/15/27

NIQ	Nuveen Intermediate Duration Quality Municipal
	Term Fund
	Portfolio of Investments (continued)
	November 30, 2018 (Unaudited)

Principal			Optional Call
Amount (000)		Description (1)	Provisions (2)	Ratings (3)	Value
		Texas (continued)
$ 360		Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing	5/21 at 100.00	BBB	$ 385,160
		System, Series 2011, 6.000%, 5/01/23
14,630		Total Texas			16,087,870
		Utah – 0.7% (0.5% of Total Investments)
435		Utah Water Finance Agency, Revenue Bonds, Pooled Loan Financing Program, Series 2017A,	3/27 at 100.00	AA–	494,177
		5.000%, 3/01/35
600		Utah Water Finance Agency, Revenue Bonds, Pooled Loan Financing Program, Series 2017C,	3/27 at 100.00	AA–	683,922
		5.000%, 3/01/34
1,035		Total Utah			1,178,099
		Virgin Islands – 0.7% (0.5% of Total Investments)
1,130		Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding	No Opt. Call	AA	1,151,911
		Series 2012A, 4.000%, 10/01/22 – AGM Insured
		Virginia – 1.2% (0.9% of Total Investments)
1,340		Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds,	7/26 at 100.00	AA	1,492,211
		First Tier Series 2016, 5.000%, 7/01/41 – AGM Insured
535		Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Series	No Opt. Call	BBB	566,255
		2012A, 5.000%, 7/15/21
1,875		Total Virginia			2,058,466
		Washington – 1.3% (1.0% of Total Investments)
700		Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015A,	10/24 at 100.00	AA–	790,923
		5.000%, 4/01/27
1,445		Washington State Convention Center Public Facilities District, Lodging Tax Revenue	7/28 at 100.00	A1	1,579,096
		Bonds, Series 2018, 5.000%, 7/01/48
2,145		Total Washington			2,370,019
		West Virginia – 0.6% (0.5% of Total Investments)
1,035		West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue	No Opt. Call	A–	1,033,002
		Bonds, Appalachian Power Company – Amos Project, Refunding Series 2015A, 1.900%, 3/01/40
		(Mandatory put 4/01/19)
		Wisconsin – 0.4% (0.3% of Total Investments)
		University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option
		Bond Trust 2015-XF0127:
50		14.440%, 4/01/22, 144A (IF) (5)	No Opt. Call	AA–	70,435
100		14.939%, 4/01/23, 144A (IF) (5)	No Opt. Call	AA–	152,401
185		14.703%, 4/01/24, 144A (IF) (5)	4/23 at 100.00	AA–	279,006
100		14.939%, 4/01/25, 144A (IF) (5)	4/23 at 100.00	AA–	151,603
435		Total Wisconsin			653,445
$ 206,544		Total Long-Term Investments (cost $224,820,377)			225,950,492
		Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs - (31.0)% (8)			(54,877,867)
		Other Assets Less Liabilities - 3.2%			5,718,225
		Net Assets Applicable to Common Shares - 100%			$ 176,790,850

(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)	Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.
(5)	Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
(6)	Step-up coupon bond, a bond with a coupon that increases (“steps up”), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.
(7)	As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.
(8)	Adjustable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 24.3%.
144A	Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.
ETM	Escrowed to maturity.
IF	Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.

Statement of Assets and Liabilities

November 30, 2018 (Unaudited)

		NID				NIQ
Assets
Long-term investments, at value (cost $799,022,726 and $224,820,377, respectively)		$	793,362,868			$	225,950,492
Cash collateral at brokers for investments in swaps(1)			213,472				—
Interest rate swaps premiums paid			480				—
Receivable for:
Interest			13,867,246				3,718,398
Investments sold			26,686,097				8,675,347
Other assets			86,767				2,400
Total assets			834,216,930				238,346,637
Liabilities
Cash overdraft			906,112				2,552,993
Floating rate obligations			11,200,000				—
Payable for:
Dividends			1,888,095				365,928
Interest			359,301				112,923
Investments purchased			11,468,676				3,486,060
Variation margin on swap contracts			11,957				—
Adjustable Rate MuniFund Term Preferred (“AMTP”) Shares, net of deferred offering costs (liquidation preference
$175,000,000 and $55,000,000, respectively)			174,835,951				54,877,867
Accrued expenses:
Management fees			438,721				103,403
Trustees fees			47,311				965
Other			151,617				55,648
Total liabilities			201,307,741				61,555,787
Net assets applicable to common shares		$	632,909,189			$	176,790,850
Common shares outstanding			46,909,660				13,097,144
Net asset value (“NAV”) per common share outstanding		$	13.49			$	13.50
Net assets applicable to common shares consist of:
Common shares, $0.01 par value per share		$	469,097			$	130,971
Paid-in surplus			670,083,852				186,876,846
Total distributable earnings			(37,643,760	)			(10,216,967	)
Net assets applicable to common shares		$	632,909,189			$	176,790,850
Authorized shares:
Common		Unlimited				Unlimited
Preferred		Unlimited				Unlimited

(1)	Cash pledged to collateralize the net payment obligations for investments in swaps.

Statement of Operations

Six Months Ended November 30, 2018 (Unaudited)

		NID				NIQ
Investment Income		$	17,991,792			$	4,042,435
Expenses
Management fees			2,689,801				634,735
Interest expense and amortization of offering costs			2,125,141				639,513
Custodian fees			54,912				20,696
Trustees fees			12,091				3,457
Professional fees			34,939				17,863
Shareholder reporting expenses			35,050				12,193
Shareholder servicing agent fees			6,937				6,926
Stock exchange listing fees			6,529				3,395
Investor relations expenses			25,463				7,655
Other			52,641				18,773
Total expenses			5,043,504				1,365,206
Net investment income (loss)			12,948,288				2,677,229
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments			514,305				(839,959	)
Swaps			310,395				—
Change in net unrealized appreciation (depreciation) of:
Investments			(7,250,370	)			(1,536,270	)
Swaps			(231,174	)			—
Net realized and unrealized gain (loss)			(6,656,844	)			(2,376,229	)
Net increase (decrease) in net assets applicable to common shares from operations		$	6,291,444			$	301,000

Statement of Changes in Net Assets

(Unaudited)

		NID								NIQ
		Six Months				Year(1)				Six Months				Year(1)
		Ended				Ended				Ended				Ended
		11/30/18				5/31/18				11/30/18				5/31/18
Operations
Net investment income (loss)		$	12,948,288			$	27,876,539			$	2,677,229			$	5,861,210
Net realized gain (loss) from:
Investments			514,305				818,283				(839,959	)			77,606
Swaps			310,395				1,190,068				—				—
Change in net unrealized appreciation (depreciation) of:
Investments			(7,250,370	)			(5,412,911	)			(1,536,270	)			(3,697,414	)
Swaps			(231,174	)			(871,136	)			—				—
Net increase (decrease) in net assets applicable to common shares
from operations			6,291,444				23,600,843				301,000				2,241,402
Distributions to Common Shareholders(2)
Dividends(3)			(11,961,963	)			(28,849,441	)			(2,455,715	)			(5,985,395	)
Decrease in net assets applicable to common shares from distributions
to common shareholders			(11,961,963	)			(28,849,441	)			(2,455,715	)			(5,985,395	)
Net increase (decrease) in net assets applicable to common shares			(5,670,519	)			(5,248,598	)			(2,154,715	)			(3,743,993	)
Net assets applicable to common shares at the beginning of period			638,579,708				643,828,306				178,945,565				182,689,558
Net assets applicable to common shares at the end of period		$	632,909,189			$	638,579,708			$	176,790,850			$	178,945,565

(1)	Prior period amounts have been conformed to current year presentation. See Notes to Financial Statements, Note 9 – New Accounting Pronouncements for further details.
(2)	The composition and per share amounts of the Fund’s distributions are presented in the Financial Highlights. The distribution information for the Fund as of its most recent tax year end is presented within the Notes to Financial Statements, Note 6 – Income Tax Information.
(3)	For the fiscal year ended May 31, 2018, the Fund’s distributions to common shareholders were paid from net investment income.

Statement of Cash Flows

Six Months Ended November 30, 2018 (Unaudited)

		NID				NIQ
Cash Flows from Operating Activities:
Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations		$	6,291,444			$	301,000
Adjustments to reconcile the net increase (decrease) in net assets applicable to common
shares from operations to net cash provided by (used in) operating activities:
Purchases of investments			(61,357,512	)			(35,899,610	)
Proceeds from sales and maturities of investments			67,716,889				42,462,575
Proceeds from (Purchases of) short-term investments, net			—				2,750,000
Payment-in-kind distributions			(7,928	)			—
Premiums received (paid) for interest rate swaps			(25	)			—
Taxes paid			(8,594	)			(282	)
Amortization (Accretion) of premiums and discounts, net			3,002,019				1,623,115
Amortization of deferred offering costs			18,972				13,357
(Increase) Decrease in:
Receivable for interest			(186,806	)			(96,982	)
Receivable for investments sold			(14,137,261	)			(6,535,347	)
Other assets			(40,284	)			1,758
Increase (Decrease) in:
Payable for interest			19,801				6,223
Payable for investments purchased			(1,761,334	)			(9,281,401	)
Payable for variation margin on swap contracts			6,997				—
Accrued management fees			(16,133	)			(4,221	)
Accrued Trustees fees			2,118				(1,416	)
Accrued other expenses			(20,095	)			(20,508	)
Net realized (gain) loss from:
Investments			(514,305	)			839,959
Paydowns			—				(2,384	)
Change in net unrealized (appreciation) depreciation of investments			7,250,370				1,536,270
Net cash provided by (used in) operating activities			6,258,333				(2,307,894	)
Cash Flows from Financing Activities:
Proceeds from borrowings			24,200,000				—
Repayments of borrowings			(24,200,000	)			—
Increase (Decrease) in cash overdraft			906,112				2,552,993
Cash distribution paid to common shareholders			(12,168,743	)			(2,515,081	)
Net cash provided by (used in) financing activities			(11,262,631	)			37,912
Net Increase (Decrease) in Cash and Cash Collateral at Brokers			(5,004,298	)			(2,269,982	)
Cash and cash collateral at brokers at the beginning of period			5,217,770				2,269,982
Cash and cash collateral at brokers at the end of period		$	213,472			$	—

(1)	Comprised of “Cash” and “Cash collateral at brokers” as presented on the Statement of Assets and Liabilities.

Supplemental Disclosure of Cash Flow Information		NID				NIQ
Cash paid for interest (excluding amortization of offering costs)		$	2,086,367			$	619,933

						Investment Operations												Less Distributions to Common Shareholders												Common Share
		Beginning				Net				Net								From				From
		Common				Investment				Realized/								Net				Accumulated																Ending
		Share				Income				Unrealized								Investment				Net Realized								Offering				Ending				Share
		NAV				(Loss)				Gain (Loss)				Total				Income				Gains				Total				Costs				NAV				Price
NID
Year Ended 5/31:
2019(e)		$	13.61			$	0.28			$	(0.14	)		$	0.14			$	(0.26	)		$	—			$	(0.26	)		$	—			$	13.49			$	12.39
2018			13.72				0.59				(0.08	)			0.51				(0.62	)			—				(0.62	)			—				13.61				12.57
2017			14.19				0.63				(0.43	)			0.20				(0.67	)			—				(0.67	)			—				13.72				13.39
2016			13.72				0.68				0.47				1.15				(0.68	)			—				(0.68	)			—				14.19				13.68
2015			13.69				0.69				0.02				0.71				(0.68	)			—				(0.68	)			—				13.72				12.48
2014			14.04				0.69				(0.37	)			0.32				(0.67	)			—				(0.67	)			—	*			13.69				12.59
NIQ
Year Ended 5/31:
2019(e)			13.66				0.20				(0.17	)			0.03				(0.19	)			—				(0.19	)			—				13.50				12.27
2018			13.95				0.45				(0.28	)			0.17				(0.46	)			—				(0.46	)			—				13.66				12.52
2017			14.30				0.49				(0.33	)			0.16				(0.51	)			—				(0.51	)			—				13.95				13.15
2016			13.69				0.53				0.66				1.19				(0.58	)			—				(0.58	)			—				14.30				13.53
2015			13.87				0.58				(0.16	)			0.42				(0.60	)			—				(0.60	)			—				13.69				12.49
2014			14.12				0.60				(0.27	)			0.33				(0.58	)			—				(0.58	)			—				13.87				12.92

		AMTP Shares								VMTP Shares
		at the End of Period								at the End of Period
		Aggregate				Asset				Aggregate				Asset
		Amount				Coverage				Amount				Coverage
		Outstanding				Per $100,000				Outstanding				Per $100,000
			(000	)		Share					(000	)		Share
NID
Year Ended 5/31:
2019(e)		$	175,000			$	461,662			$	—			$	—
2018			175,000				464,903				—				—
2017			—				—				175,000				467,902
2016			—				—				175,000				480,319
2015			—				—				175,000				467,650
2014			—				—				175,000				466,985
NIQ
Year Ended 5/31:
2019(e)			55,000				421,438				—				—
2018			55,000				425,356				—				—
2017			—				—				55,000				432,163
2016			—				—				55,000				440,588
2015			—				—				55,000				426,080
2014			—				—				55,000				430,313

								Common Share Supplemental Data/
								Ratios Applicable to Common Shares
Common Share
Total Returns											Ratios to Average Net Assets(b)
				Based				Ending
Based				on				Net							Net				Portfolio
on				Share				Assets							Investment				Turnover
NAV(a)				Price(a)					(000)		Expenses(c)				Income (Loss)				Rate(d)
	1.00	%			0.61	%		$	632,909			1.58	%**			4.06	%**			8	%
	3.75				(1.56	)			638,580			1.48				4.35				19
	1.49				2.84				643,828			1.32				4.61				19
	8.66				15.59				665,559			1.20				4.96				10
	5.29				4.62				643,387			1.23				5.01				18
	2.66				2.47				642,224			1.28				5.33				19
	0.20				(0.50	)			176,791			1.53	**			3.00	**			16
	1.21				(1.37	)			178,946			1.41				3.24				10
	1.20				1.06				182,690			1.28				3.55				8
	8.85				13.26				187,323			1.20				3.83				7
	3.01				1.27				179,344			1.16				4.17				15
	2.70				3.64				181,672			1.21				4.57				13

(a)	Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund’s market price (and not its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.  Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.
(b)	Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to preferred shares issued by the Fund.
(c)	The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 4 – Fund Shares, Preferred Shares) and/or the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund (as described in Note 3 – Portfolio Securities and Investments in Derivatives, Inverse Floating Rate Securities), where applicable, as follows:

NID			NIQ
Year Ended 5/31:			Year Ended 5/31:
2019(e)	0.67%**		2019(e)	0.72%**
2018	0.57		2018	0.61
2017	0.42		2017	0.47
2016	0.30		2016	0.38
2015	0.33		2015	0.33
2014	0.36		2014	0.36

(d)	Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 5 – Investment Transactions) divided by the average long-term market value during the period.
(e)	For the six months ended November 30, 2018.
*	Rounds to less than $0.01 per share.
**	Annualized.

		NID
Outstanding when-issued/delayed delivery purchase commitments		$	9,472,010

NID		Level 1				Level 2				Level 3				Total
Long-Term Investments*:
Municipal Bonds		$	—			$	793,055,309			$	307,559	**		$	793,362,868
Investments in Derivatives:
Interest Rate Swaps***			—				55,750				—				55,750
Total		$	—			$	793,111,059			$	307,559			$	793,418,618
NIQ
Long-Term Investments*:
Municipal Bonds		$	—			$	225,950,492			$	—			$	225,950,492

*	Refer to the Fund’s Portfolio of Investments for state classifications.
**	Refer to the Fund’s Portfolio of Investments for securities classified as Level 3.
***	Represents net unrealized appreciation (depreciation) as reported in the Fund’s Portfolio of Investments.

Floating Rate Obligations Outstanding		NID				NIQ
Floating rate obligations: self-deposited Inverse Floaters		$	11,200,000			$	—
Floating rate obligations: externally-deposited Inverse Floaters			185,060,000				48,320,000
Total		$	196,260,000			$	48,320,000

Self-Deposited Inverse Floaters		NID				NIQ
Average floating rate obligations outstanding		$	11,200,000			$	—
Average annual interest rate and fees			2.03	%			—	%

Floating Rate Obligations – Recourse Trusts		NID				NIQ
Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters		$	11,200,000			$	—
Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters			175,250,000				48,320,000
Total		$	186,450,000			$	48,320,000

		NID
Average notional amount of interest rate swap contracts outstanding*		$	6,200,000

*	The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal period and at the end of each fiscal quarter within the current fiscal period.

		Location on the Statement of Assets and Liabilities
		Asset Derivatives			(Liability) Derivatives
Underlying	Derivative
Risk Exposure	Instrument	Location	Value		Location	Value
NID
Interest rate	Swaps (OTC Cleared)	—	$ —		Payable for  variation margin on  swap contracts**	$55,750

**

Some swap contracts require a counterparty to pay or receive a premium, which is disclosed on the Statement of Assets and Liabilities and is not reflected in the cumulative unrealized appreciation (depreciation) presented above. Value represents the unrealized appreciation (depreciation) of swaps as reported in the Fund’s Portfolio of Investments and not the asset and/or liability amount as described in the table above.

Fund	Underlying  Risk Exposure	Derivative  Instrument	Net Realized  Gain (Loss) from  Swaps	Change in Net  Unrealized Appreciation  (Depreciation) of  Swaps
NID	Interest rate	Swaps	$310,395	$(231,174)

											Liquidation
											Preference,
			Shares				Liquidation				net of deferred
Fund	Series		Outstanding				Preference				offering cost
NID	2023			1,750			$	175,000,000			$	174,835,951
NIQ	2023			550			$	55,000,000			$	54,877,867

Fund	Notice  Period	Series	Term  Redemption Date	Premium  Expiration Date
NID	360-day	2023	March 31, 2023*	August 31, 2018
NIQ	360-day	2023	June 30, 2023*	August 31, 2018

*	Subject to early termination by either the Fund or the holder.

		NID				NIQ
Average liquidation preference of AMTP Shares outstanding		$	175,000,000			$	55,000,000
Annualized dividend rate			2.27	%			2.27	%

		NID				NIQ
Purchases		$	61,357,512			$	35,899,610
Sales and maturities			67,716,889				42,462,575

		NID				NIQ
Tax cost of investments		$	786,865,433			$	224,660,321
Gross unrealized:
Appreciation		$	16,419,328			$	3,268,687
Depreciation			(21,121,865	)			(1,978,516	)
Net unrealized appreciation (depreciation) of investments		$	(4,702,537	)		$	1,290,171
		NID				NIQ
Tax cost of swaps		$	480			$	—
Net unrealized appreciation (depreciation) of swaps			55,750				—

		NID				NIQ
Paid-in surplus		$	(5,421	)		$	(9,919	)
Undistributed (Over-distribution of) net investment income			(190,389	)			(22,444	)
Accumulated net realized gain (loss)			195,810				32,363

		NID				NIQ
Undistributed net tax-exempt income1		$	2,199,190			$	50,417
Undistributed net ordinary income2			506,759				12,518
Undistributed net long-term capital gains			—				—

1	Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on May 1, 2018, and paid on June 1, 2018.
2	Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.

		NID				NIQ
Distributions from net tax-exempt income		$	32,221,620			$	7,123,805
Distributions from net ordinary income2			281,458				13,097
Distributions from net long-term capital gains			—				—

2	Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.

		NID				NIQ
Not subject to expiration:
Short-term		$	15,740,426			$	7,107,520
Long-term			18,833,190				3,324,870
Total		$	34,573,616			$	10,432,390

		NID				NIQ
Utilized capital loss carryforwards		$	2,204,161			$	109,969

		NID				NIQ
Average Daily Managed Assets*		Fund-Level Fee Rate				Fund-Level Fee Rate
For the first $125 million			0.4000	%			0.3000	%
For the next $125 million			0.3875				0.2875
For the next $250 million			0.3750				0.2750
For the next $500 million			0.3625				0.2625
For the next $1 billion			0.3500				0.2500
For the next $3 billion			0.3250				0.2250
For managed assets over $5 billion			0.3125				0.2125

Complex-Level Eligible Asset Breakpoint Level*		Effective Complex-Level Fee Rate at Breakpoint Level
$55 billion			0.2000	%
$56 billion			0.1996
$57 billion			0.1989
$60 billion			0.1961
$63 billion			0.1931
$66 billion			0.1900
$71 billion			0.1851
$76 billion			0.1806
$80 billion			0.1773
$91 billion			0.1691
$125 billion			0.1599
$200 billion			0.1505
$250 billion			0.1469
$300 billion			0.1445

*

For the complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds’ use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust’s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen open-end and closed-end funds that constitute “eligible assets.” Eligible assets do not include assets attributable to investments in other Nuveen Funds or assets in excess of a determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser’s assumption of the management of the former First American Funds effective January 1, 2011. As of November 30, 2018, the complex-level fee for each Fund was 0.1595%.

		NID
Maximum Outstanding Balance		$	22,800,000

		NID
Average daily balance outstanding		$	7,085,366
Average annual interest rate			3.08	%

		NID				NIQ
UNII at the end of period		$	725,830			$	(296,529	)

Board of Trustees
Margo Cook*		Jack B. Evans	William C. Hunter	Albin F. Moschner	John K. Nelson	William J. Schneider**
Judith M. Stockdale		Carole E. Stone	Terence J. Toth	Margaret L Wolff	Robert L. Young
*	Interested Board Member.
**	Retired from the Funds’ Board of Trustees effective December 31, 2018.

Fund Manager	Custodian	Legal Counsel	Independent Registered	Transfer Agent and
Nuveen Fund Advisors, LLC	State Street Bank	Chapman and Cutler LLP	Public Accounting Firm	Shareholder Services
333 West Wacker Drive	& Trust Company	Chicago, IL 60603	KPMG LLP	Computershare Trust
Chicago, IL 60606	One Lincoln Street		200 East Randolph Street	Company, N.A.
	Boston, MA 02111		Chicago, IL 60601	250 Royall Street
				Canton, MA 02021
				(800) 257-8787

	NID	NIQ
Common shares repurchased	—	—