NUVEEN CALIFORNIA SELECT TAX FREE INCOME PORTFOLIO

Regulatory Filings • Aug 29, 2007

N-Q 1 nq1.htm NXC Form N-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-6623

Nuveen California Select Tax-Free Income Portfolio (Exact name of registrant as specified in charter)

Nuveen Investments 333 West Wacker Drive, Chicago, Illinois 60606 (Address of principal executive offices) (Zip code)

Kevin J. McCarthy—Vice President and Secretary 333 West Wacker Drive, Chicago, Illinois 60606 (Name and address of agent for service)

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

Date of fiscal year end: 3/31

Date of reporting period: 6/30/07

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

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

Item 1. Schedule of Investments

	Portfolio of Investments (Unaudited)
	Nuveen California Select Tax-Free Income Portfolio (NXC)
	June 30, 2007
Principal		Optional Call
Amount (000)	Description	Provisions (1)	Ratings (2)	Value
	Consumer Staples – 5.3%
$ 220	California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma	6/15 at 100.00	BBB	$ 213,286
	County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21
1,505	California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Revenue	6/12 at 100.00	BBB	1,518,936
	Bonds, Fresno County Tobacco Funding Corporation, Series 2002, 5.625%, 6/01/23
4,045	Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement	6/22 at 100.00	BBB	3,073,351
	Asset-Backed Bonds, Series 2007A-2, 0.000%, 6/01/37
5,770	Total Consumer Staples			4,805,573
	Education and Civic Organizations – 10.4%
1,000	California Educational Facilities Authority, Revenue Bonds, Stanford University, Series 1999P,	12/09 at 101.00	AAA	1,029,820
	5.000%, 12/01/23
45	California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series	10/15 at 100.00	A3	45,881
	2005A, 5.000%, 10/01/35
1,000	California Educational Facilities Authority, Revenue Bonds, University of San Diego, Series	10/12 at 100.00	A2	1,050,470
	2002A, 5.500%, 10/01/32
	California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2006:
35	5.000%, 11/01/21	11/15 at 100.00	A2	36,265
45	5.000%, 11/01/25	11/15 at 100.00	A2	46,248
3,000	California Infrastructure Economic Development Bank, Revenue Bonds, J. David Gladstone	10/11 at 101.00	A–	3,147,930
	Institutes, Series 2001, 5.500%, 10/01/19
2,000	California State Public Works Board, Lease Revenue Bonds, University of California, UCLA	10/12 at 100.00	AAA	2,058,000
	Replacement Hospital Project, Series 2002A, 5.000%, 10/01/22 – FSA Insured
1,000	Long Beach Bond Financing Authority, California, Lease Revenue Refunding Bonds, Long Beach	11/11 at 101.00	AAA	1,038,310
	Aquarium of the South Pacific, Series 2001, 5.250%, 11/01/30 – AMBAC Insured
1,000	University of California System, General Revenue Bonds, Series 2006J, 4.500%, 5/15/35 (WI/DD,	5/15 at 101.00	AAA	959,300
	Settling 7/05/07) – FSA Insured
9,125	Total Education and Civic Organizations			9,412,224
	Health Care – 13.9%
670	California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical Center,	11/15 at 100.00	A2	675,440
	Series 2005, 5.000%, 11/15/34
2,550	California Health Facilities Financing Authority, Revenue Bonds, Sutter Health,	11/16 at 100.00	AA–	2,626,551
	Series 2007A, 5.250%, 11/15/46 (UB)
2,000	California Infrastructure Economic Development Bank, Revenue Bonds, Kaiser Hospital Assistance	8/11 at 102.00	A+	2,084,720
	LLC, Series 2001A, 5.550%, 8/01/31
1,500	California Statewide Community Development Authority, Hospital Revenue Bonds, Monterey	6/13 at 100.00	AAA	1,580,250
	Peninsula Hospital, Series 2003B, 5.250%, 6/01/18 – FSA Insured
1,500	California Statewide Community Development Authority, Insured Mortgage Hospital Revenue Bonds,	11/09 at 102.00	A	1,548,435
	Mission Community Hospital, Series 2001, 5.375%, 11/01/26
1,625	California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System,	3/16 at 100.00	A+	1,633,970
	Series 2006, 5.000%, 3/01/41
545	California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,	8/16 at 100.00	A+	562,871
	Series 2001C, 5.250%, 8/01/31
1,880	California Statewide Community Development Authority, Revenue Bonds, Los Angeles Orthopaedic	12/07 at 101.00	AAA	1,901,188
	Hospital Foundation, Series 2000, 5.500%, 6/01/17 – AMBAC Insured
12,270	Total Health Care			12,613,425
	Housing/Multifamily – 0.9%
750	California Statewide Community Development Authority, Student Housing Revenue Bonds, EAH –	8/12 at 100.00	A	781,665
	Irvine East Campus Apartments, LLC Project, Series 2002A, 5.500%, 8/01/22 – ACA Insured
	Housing/Single Family – 0.1%
145	California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 8/01/30 –	2/16 at 100.00	AAA	153,153
	FGIC Insured (Alternative Minimum Tax)
	Industrials – 2.0%
1,250	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic	12/17 at 100.00	BBB+	1,298,775
	Services Inc., Series 2002C, 5.250%, 6/01/23 (Mandatory put 12/01/17) (Alternative Minimum Tax)
500	California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste	1/16 at 102.00	BBB	501,415
	Management Inc., Series 2002A, 5.000%, 1/01/22 (Alternative Minimum Tax)
1,750	Total Industrials			1,800,190
	Long-Term Care – 1.7%
1,500	ABAG Finance Authority for Non-Profit Corporations, California, Insured Senior Living Revenue	11/12 at 100.00	A	1,543,155
	Bonds, Odd Fellows Home of California, Series 2003A, 5.200%, 11/15/22
	Tax Obligation/General – 22.4%
500	California, General Obligation Bonds, Series 2003, 5.250%, 11/01/19 – RAAI Insured	11/13 at 100.00	AA	528,070
	California, General Obligation Bonds, Series 2004:
750	5.000%, 2/01/23	2/14 at 100.00	A+	776,550
800	5.125%, 4/01/25	4/14 at 100.00	A+	833,760
1,000	Fremont Unified School District, Alameda County, California, General Obligation Bonds, Series	8/12 at 101.00	AAA	1,041,730
	2002A, 5.000%, 8/01/21 – FGIC Insured
	Golden West Schools Financing Authority, California, General Obligation Revenue Refunding
	Bonds, School District Program, Series 1999A:
4,650	0.000%, 8/01/16 – MBIA Insured	No Opt. Call	AAA	3,151,491
1,750	0.000%, 2/01/17 – MBIA Insured	No Opt. Call	AAA	1,153,880
2,375	0.000%, 8/01/17 – MBIA Insured	No Opt. Call	AAA	1,531,566
2,345	0.000%, 2/01/18 – MBIA Insured	No Opt. Call	AAA	1,468,251
	Mountain View-Los Altos Union High School District, Santa Clara County, California, General
	Obligation Capital Appreciation Bonds, Series 1995C:
1,015	0.000%, 5/01/17 – MBIA Insured	No Opt. Call	AAA	661,892
1,080	0.000%, 5/01/18 – MBIA Insured	No Opt. Call	AAA	668,628
100	Roseville Joint Union High School District, Placer County, California, General Obligation	8/15 at 100.00	AAA	103,801
	Bonds, Series 2006B, 5.000%, 8/01/27 – FGIC Insured
3,220	Sacramento City Unified School District, Sacramento County, California, General Obligation	7/15 at 100.00	Aaa	3,341,458
	Bonds, Series 2005, 5.000%, 7/01/27 – MBIA Insured
1,500	San Diego Unified School District, San Diego County, California, General Obligation Bonds,	7/13 at 101.00	AAA	1,605,660
	Series 2003E, 5.250%, 7/01/24 – FSA Insured
768	San Diego Unified School District, San Diego County, California, General Obligation Bonds,	7/16 at 101.00	AAA	745,536
	Series 2006F-1, 4.500%, 7/01/29 – FSA Insured (UB)
2,565	Sunnyvale School District, Santa Clara County, California, General Obligation Bonds, Series	9/15 at 100.00	AAA	2,666,856
	2005A, 5.000%, 9/01/26 – FSA Insured
24,418	Total Tax Obligation/General			20,279,129
	Tax Obligation/Limited – 19.2%
1,000	Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area,	10/13 at 100.00	AA	1,063,190
	Series 2003, 5.625%, 10/01/33 – RAAI Insured
3,500	California State Public Works Board, Lease Revenue Bonds, Department of Corrections,	No Opt. Call	AAA	4,028,988
	Calipatria State Prison, Series 1991A, 6.500%, 9/01/17 – MBIA Insured
1,000	California State Public Works Board, Lease Revenue Bonds, Department of Mental Health,	6/14 at 100.00	A	1,078,910
	Coalinga State Hospital, Series 2004A, 5.500%, 6/01/23
660	California, Economic Recovery Revenue Bonds, Series 2004A, 5.000%, 7/01/15	7/14 at 100.00	AA+	698,115
120	Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community	9/15 at 100.00	AAA	124,681
	Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured
360	Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation	9/16 at 101.00	AAA	373,500
	Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured (UB)
1,000	Fontana Public Financing Authority, California, Tax Allocation Revenue Bonds, North Fontana	10/15 at 100.00	AAA	1,025,630
	Redevelopment Project, Series 2005A, 5.000%, 10/01/32 – AMBAC Insured
1,050	Golden State Tobacco Securitization Corporation, California, Enhanced Asset Backed Settlement	6/15 at 100.00	AAA	1,135,922
	Revenue Bonds, Series 2005A, Residual Series 1503, 7.027%, 6/01/38 – FGIC Insured (IF)
	Irvine, California, Unified School District, Community Facilities District Special Tax Bonds,
	Series 2006A:
60	5.000%, 9/01/26	9/16 at 100.00	N/R	59,303
135	5.125%, 9/01/36	9/16 at 100.00	N/R	135,088
215	Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester	9/15 at 100.00	Aaa	219,982
	Social Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
1,300	Orange County, California, Special Tax Bonds, Community Facilities District 03-1 of Ladera	8/12 at 101.00	N/R	1,367,899
	Ranch, Series 2004A, 5.625%, 8/15/34
105	Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series	9/15 at 100.00	AAA	107,433
	2005A, 5.000%, 9/01/35 – XLCA Insured
130	Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%,	8/13 at 100.00	AAA	133,458
	8/01/25 – AMBAC Insured
605	Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A,	No Opt. Call	AAA	668,870
	5.400%, 11/01/20 – MBIA Insured
3,000	San Mateo County Transit District, California, Sales Tax Revenue Bonds, Series 2005A, 5.000%,	6/15 at 100.00	AAA	3,150,330
	6/01/21 – MBIA Insured
1,000	Santa Clara County Board of Education, California, Certificates of Participation, Series 2002,	4/12 at 101.00	AAA	1,027,590
	5.000%, 4/01/25 – MBIA Insured
1,000	Travis Unified School District, Solano County, California, Certificates of Participation,	9/16 at 100.00	Aaa	1,034,510
	Series 2006, 5.000%, 9/01/26 – FGIC Insured
16,240	Total Tax Obligation/Limited			17,433,399
	Transportation – 6.5%
1,150	Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series	1/10 at 100.00	BBB–	1,165,732
	1995A, 5.000%, 1/01/35
3,500	Los Angeles Harbors Department, California, Revenue Refunding Bonds, Series 2001B, 5.500%,	8/11 at 100.00	AAA	3,685,290
	8/01/17 – AMBAC Insured (Alternative Minimum Tax)
1,000	Port of Oakland, California, Revenue Bonds, Series 2002M, 5.250%, 11/01/20 – FGIC Insured	11/12 at 100.00	AAA	1,053,850
5,650	Total Transportation			5,904,872
	U.S. Guaranteed – 14.3% (3)
400	Beverly Hills Unified School District, Los Angeles County, California, General Obligation Bonds,	8/12 at 100.00	AA (3)	420,588
	Series 2002A, 5.000%, 8/01/26 (Pre-refunded 8/01/12)
	California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A:
2,000	5.750%, 5/01/17 (Pre-refunded 5/01/12)	5/12 at 101.00	Aaa	2,180,520
2,000	5.125%, 5/01/19 (Pre-refunded 5/01/12)	5/12 at 101.00	Aaa	2,125,860
750	California Educational Facilities Authority, Revenue Bonds, Pepperdine University, Series 2002A,	8/09 at 100.00	N/R (3)	775,875
	5.500%, 8/01/32 (Pre-refunded 8/01/09)
2,600	California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2002,	11/11 at 100.00	A2 (3)	2,737,124
	5.250%, 11/01/21 (Pre-refunded 11/01/11)
1,000	California, General Obligation Bonds, Series 2004, 5.125%, 2/01/27 (Pre-refunded 2/01/14)	2/14 at 100.00	A+ (3)	1,067,250
1,400	Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement	6/13 at 100.00	AAA	1,512,392
	Asset-Backed Bonds, Series 2003B, 5.500%, 6/01/33 (Pre-refunded 6/01/13)
2,000	North Orange County Community College District, California, General Obligation Bonds, Series	8/12 at 101.00	AAA	2,115,600
	2002A, 5.000%, 8/01/22 (Pre-refunded 8/01/12) – MBIA Insured
12,150	Total U.S. Guaranteed			12,935,209
	Utilities – 1.9%
200	Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series	7/13 at 100.00	AAA	208,254
	2003A-2, 5.000%, 7/01/21 – MBIA Insured
215	Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,	9/15 at 100.00	AAA	222,381
	9/01/31 – XLCA Insured
1,225	Turlock Irrigation District, California, Revenue Refunding Bonds, Series 1992A, 6.250%,	No Opt. Call	Aaa	1,293,061
	1/01/12 – MBIA Insured
1,640	Total Utilities			1,723,696
	Water and Sewer – 2.5%
150	Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006,	4/16 at 100.00	AAA	154,437
	5.000%, 4/01/36 – MBIA Insured
250	Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series	6/16 at 100.00	AAA	259,933
	2006, 5.000%, 12/01/31 – FGIC Insured
825	South Feather Water and Power Agency, California, Water Revenue Certificates of Participation,	4/13 at 100.00	BBB	853,578
	Solar Photovoltaic Project, Series 2003, 5.375%, 4/01/24
1,000	Woodbridge Irrigation District, California, Certificates of Participation, Water Systems	7/13 at 100.00	BBB+	1,037,321
	Project, Series 2003, 5.625%, 7/01/43
2,225	Total Water and Sewer			2,305,269
$ 93,633	Total Long-Term Investments (cost $88,343,091) – 101.1%			91,690,959
	Short-Term Investments – 1.3%
$ 1,150	Puerto Rico Government Development Bank, Adjustable Refunding Bonds, Variable Rate Demand		VMIG-1	1,150,000
	Obligations, Series 1985, 3.570%, 12/01/15 – MBIA Insured (4)
	Total Short-Term Investments (cost $1,150,000)			1,150,000
	Total Investments (cost $89,493,091) – 102.4%			92,840,959
	Floating Rate Obligations – (2.7)%			(2,458,000)
	Other Assets Less Liabilities – 0.3%			247,063
	Net Assets – 100%			$ 90,630,022

	The Fund may invest in “zero coupon” securities. A zero coupon security does not pay a regular interest
	coupon to its holders during the life of the security. Tax-exempt income to the holder of the security comes
	from accretion of the difference between the original purchase price of the security at issuance and the
	par value of the security at maturity and is effectively paid at maturity. Such securities are included in the
	portfolio with a 0.00% coupon rate in their description. The market prices of zero coupon securities
	generally are more volatile than the market prices of securities that pay interest periodically.
(1)	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.
(2)	Ratings: Using the higher of Standard & Poor’s or Moody’s rating. Ratings below BBB by Standard & Poor’s
	Group or Baa by Moody’s Investor Service, Inc. are considered to be below investment grade.
(3)	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. Such investments are normally considered to be
	equivalent to AAA rated securities.
(4)	Investment has a maturity of greater than one year, but has variable rate and demand features which qualify
	it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This rate
	changes periodically based on market conditions or a specified market index.
N/R	Not rated.
WI/DD	Purchased on a when-issued or delayed delivery basis.
(IF)	Inverse floating rate investment.
(UB)	Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the
	provisions of SFAS No. 140.

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140.

At June 30, 2007, the cost of investments was $87,036,848.

Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2007, were as follows:

Gross unrealized:
Appreciation	$3,420,989
Depreciation	(71,429)
Net unrealized appreciation (depreciation) of investments	$3,349,560

Item 2. Controls and Procedures.

1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

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

SIGNATURES

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

(Registrant) Nuveen California Select Tax-Free Income Portfolio

By (Signature and Title)* /s/ Kevin J. McCarthy Kevin J. McCarthy Vice President and Secretary

Date August 29, 2007

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

By (Signature and Title)* /s/ Gifford R. Zimmerman Gifford R. Zimmerman Chief Administrative Officer (principal executive officer)

Date August 29, 2007

By (Signature and Title)* /s/ Stephen D. Foy Stephen D. Foy Vice President and Controller (principal financial officer)

Date August 29, 2007

• Print the name and title of each signing officer under his or her signature.