NUVEEN CALIFORNIA SELECT TAX FREE INCOME PORTFOLIO

Regulatory Filings • Feb 29, 2008

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: 03/31

Date of reporting period: 12/31/07

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) | | | |
| | December
31, 2007 | | | |
| Principal | | Optional
Call | | |
| Amount
(000) | Description
(1) | Provisions
(2) | Ratings
(3) | Value |
| | Consumer
Staples – 4.8% | | | |
| $
220 | California
County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,
Sonoma | 6/15 at
100.00 | BBB | $ 204,433 |
| | 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 | 1,482,079 |
| | 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 | 2,616,063 |
| | Asset-Backed Bonds, Series 2007A-2, 0.000%,
6/01/37 | | | |
| 5,770 | Total Consumer
Staples | | | 4,302,575 |
| | Education
and Civic Organizations – 10.5% | | | |
| 1,000 | California
Educational Facilities Authority, Revenue Bonds, Stanford University, Series
1999P, | 12/09 at
101.00 | AAA | 1,033,700 |
| | 5.000%,
12/01/23 | | | |
| 45 | California
Educational Facilities Authority, Revenue Bonds, University of Redlands,
Series | 10/15 at
100.00 | A3 | 44,201 |
| | 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 | 1,044,790 |
| | 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 | 36,342 |
| 45 | 5.000%,
11/01/25 | 11/15 at
100.00 | A2 | 45,918 |
| 3,000 | California
Infrastructure Economic Development Bank, Revenue Bonds, J. David
Gladstone | 10/11 at
101.00 | A– | 3,138,210 |
| | 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 | 2,075,540 |
| | 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 | 1,038,130 |
| | Aquarium
of the South Pacific, Series 2001, 5.250%, 11/01/30 – AMBAC
Insured | | | |
| 1,000 | University of
California, General Revenue Bonds, Series 2006J, 4.500%, 5/15/35 – FSA
Insured | 5/15 at
101.00 | AAA | 986,770 |
| 9,125 | Total
Education and Civic Organizations | | | 9,443,601 |
| | Health Care
– 13.5% | | | |
| 445 | California
Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical
Center, | 11/15 at
100.00 | A2 | 438,183 |
| | Series
2005, 5.000%, 11/15/34 | | | |
| 110 | California
Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante
System, | 4/16 at
100.00 | A+ | 106,864 |
| | Series
2006, 5.000%, 4/01/37 | | | |
| 2,550 | California
Health Facilities Financing Authority, Revenue Bonds, Sutter Health Series
2007A, | 11/16 at
100.00 | AA– | 2,586,134 |
| | 5.250%,
11/15/46 (UB) | | | |
| 2,000 | California
Infrastructure Economic Development Bank, Revenue Bonds, Kaiser Hospital
Assistance | 8/11 at
102.00 | A+ | 2,040,620 |
| | 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 | 1,596,540 |
| | Peninsula Hospital, Series 2003B, 5.250%,
6/01/18 – FSA Insured | | | |
| 1,500 | California
Statewide Community Development Authority, Insured Mortgage Hospital
Revenue | 11/09 at
102.00 | A+ | 1,539,000 |
| | Bonds,
Mission Community Hospital, Series 2001, 5.375%, 11/01/26 | | | |
| 1,515 | California
Statewide Community Development Authority, Revenue Bonds, Kaiser
Permanante | 3/16 at
100.00 | A+ | 1,455,688 |
| | System,
Series 2006, 5.000%, 3/01/41 | | | |
| 545 | California
Statewide Community Development Authority, Revenue Bonds, Kaiser
Permanente | 8/16 at
100.00 | A+ | 549,469 |
| | System,
Series 2001C, 5.250%, 8/01/31 | | | |
| 1,880 | California
Statewide Community Development Authority, Revenue Bonds, Los Angeles
Orthopaedic | 6/08 at
100.50 | AAA | 1,902,278 |
| | Hospital
Foundation, Series 2000, 5.500%, 6/01/17 – AMBAC Insured | | | |
| 12,045 | Total Health
Care | | | 12,214,776 |
| | Housing/Multifamily –
0.8% | | | |
| 750 | California
Statewide Community Development Authority, Student Housing Revenue Bonds, EAH
– | 8/12 at
100.00 | CCC | 727,658 |
| | 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%, | 2/16 at
100.00 | AAA | 154,563 |
| | 8/01/30
– FGIC Insured (Alternative Minimum Tax) | | | |
| | Industrials
– 2.0% | | | |
| 1,250 | California
Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds,
Republic | No Opt.
Call | BBB+ | 1,297,013 |
| | 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 | 483,625 |
| | Management Inc., Series 2002A, 5.000%,
1/01/22 (Alternative Minimum Tax) | | | |
| 1,750 | Total
Industrials | | | 1,780,638 |
| | Long-Term
Care – 2.8% | | | |
| 1,500 | ABAG Finance
Authority for Non-Profit Corporations, California, Insured Senior Living
Revenue | 11/12 at
100.00 | A+ | 1,549,050 |
| | Bonds,
Odd Fellows Home of California, Series 2003A, 5.200%, 11/15/22 | | | |
| 1,000 | California
Statewide Communities Development Authority, Revenue Bonds, Inland Regional
Center | 12/17 at
100.00 | Baa1 | 971,690 |
| | Project,
Series 2007, 5.250%, 12/01/27 | | | |
| 2,500 | Total
Long-Term Care | | | 2,520,740 |
| | Tax
Obligation/General – 22.1% | | | |
| 500 | California,
General Obligation Bonds, Series 2003, 5.250%, 11/01/19 – RAAI
Insured | 11/13 at
100.00 | AA | 533,410 |
| | California,
General Obligation Bonds, Series 2004: | | | |
| 750 | 5.000%,
2/01/23 | 2/14 at
100.00 | A+ | 769,133 |
| 800 | 5.125%,
4/01/25 | 4/14 at
100.00 | A+ | 821,000 |
| 1,000 | Fremont
Unified School District, Alameda County, California, General Obligation Bonds,
Series | 8/12 at
101.00 | AAA | 1,062,980 |
| | 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 | 3,271,182 |
| 1,750 | 0.000%,
2/01/17 – MBIA Insured | No Opt.
Call | AAA | 1,194,375 |
| 2,375 | 0.000%,
8/01/17 – MBIA Insured | No Opt.
Call | AAA | 1,587,213 |
| 2,345 | 0.000%,
2/01/18 – MBIA Insured | No Opt.
Call | AAA | 1,516,465 |
| | 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 | 685,490 |
| 1,080 | 0.000%,
5/01/18 – MBIA Insured | No Opt.
Call | AAA | 690,908 |
| 100 | Roseville
Joint Union High School District, Placer County, California, General
Obligation | 8/15 at
100.00 | AAA | 104,321 |
| | 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 | 3,366,349 |
| | 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 | 1,650,210 |
| | Series
2003E, 5.250%, 7/01/24 – FSA Insured | | | |
| 2,565 | Sunnyvale
School District, Santa Clara County, California, General Obligation Bonds,
Series | 9/15 at
100.00 | AAA | 2,690,454 |
| | 2005A,
5.000%, 9/01/26 – FSA Insured | | | |
| 23,650 | Total Tax
Obligation/General | | | 19,943,490 |
| | Tax
Obligation/Limited – 19.5% | | | |
| 1,000 | Bell Community
Redevelopment Agency, California, Tax Allocation Bonds, Bell Project
Area, | 10/13 at
100.00 | AA | 1,020,300 |
| | 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 | 4,108,366 |
| | 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 | 1,077,900 |
| | 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+ | 716,912 |
| 120 | Capistrano
Unified School District, Orange County, California, Special Tax Bonds,
Community | 9/15 at
100.00 | AAA | 123,808 |
| | 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 | 368,712 |
| | Bonds,
Series 2006, 5.000%, 9/01/38 – AMBAC Insured | | | |
| 1,000 | Fontana Public
Financing Authority, California, Tax Allocation Revenue Bonds, North
Fontana | 10/15 at
100.00 | AAA | 1,021,700 |
| | 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 | 1,070,244 |
| | Revenue
Bonds, Series 2005A, Residual Series 1500, 7.510%, 6/01/45 – AMBAC 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 | 56,622 |
| 135 | 5.125%,
9/01/36 | 9/16 at
100.00 | N/R | 125,618 |
| 215 | Los Angeles
Community Redevelopment Agency, California, Lease Revenue Bonds,
Manchester | 9/15 at
100.00 | Aaa | 218,337 |
| | 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 | 1,298,128 |
| | 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 | 106,226 |
| | 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 | 133,076 |
| | 8/01/25
– AMBAC Insured | | | |
| 605 | Sacramento
City Financing Authority, California, Lease Revenue Refunding Bonds, Series
1993A, | No Opt.
Call | AAA | 682,972 |
| | 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 | 3,189,810 |
| | 6/01/21
– MBIA Insured | | | |
| 225 | San Mateo
Union High School District, San Mateo County, California, Certificates
of | 12/17 at
100.00 | AAA | 228,791 |
| | Participation, Phase 1, Series 2007A,
5.000%, 12/15/30 – AMBAC Insured | | | |
| 1,000 | Santa Clara
County Board of Education, California, Certificates of Participation, Series
2002, | 4/12 at
101.00 | AAA | 1,039,670 |
| | 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 | 1,032,230 |
| | Series
2006, 5.000%, 9/01/26 – FGIC Insured | | | |
| 16,465 | Total Tax
Obligation/Limited | | | 17,619,422 |
| | Transportation –
5.3% | | | |
| 1,150 | Foothill/Eastern Transportation Corridor Agency,
California, Toll Road Revenue Bonds, Series | 1/10 at
100.00 | BBB– | 1,032,608 |
| | 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 | 3,728,865 |
| | 8/01/17
– AMBAC Insured (Alternative Minimum Tax) | | | |
| 4,650 | Total
Transportation | | | 4,761,473 |
| | U.S.
Guaranteed – 14.8% (4) | | | |
| 400 | Beverly Hills
Unified School District, Los Angeles County, California, General
Obligation | 8/12 at
100.00 | AA
(4) | 430,900 |
| | Bonds,
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 | 2,224,320 |
| 2,000 | 5.125%,
5/01/19 (Pre-refunded 5/01/12) | 5/12 at
101.00 | Aaa | 2,174,100 |
| 2,600 | California
Educational Facilities Authority, Revenue Bonds, University of the Pacific,
Series | 11/11 at
100.00 | A2
(4) | 2,797,054 |
| | 2002,
5.250%, 11/01/21 (Pre-refunded 11/01/11) | | | |
| 800 | California,
General Obligation Bonds, Series 2004, 5.125%, 2/01/27 (Pre-refunded
2/01/14) | 2/14 at
100.00 | A+
(4) | 877,776 |
| 1,400 | Golden State
Tobacco Securitization Corporation, California, Enhanced Tobacco
Settlement | 6/13 at
100.00 | AAA | 1,541,890 |
| | 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 | 2,170,020 |
| | 2002A,
5.000%, 8/01/22 (Pre-refunded 8/01/12) – MBIA Insured | | | |
| 1,000 | Port of
Oakland, California, Revenue Bonds, Series 2002M, 5.250%, 11/01/20
(Pre-refunded | 11/12 at
100.00 | AAA | 1,092,250 |
| | 11/01/12) – FGIC
Insured | | | |
| 12,200 | Total U.S.
Guaranteed | | | 13,308,310 |
| | Utilities
– 2.4% | | | |
| 645 | Long Beach
Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds,
Series | No Opt.
Call | A+ | 644,484 |
| | 2007A,
5.500%, 11/15/37 | | | |
| 200 | Los Angeles
Department of Water and Power, California, Power System Revenue Bonds,
Series | 7/13 at
100.00 | AAA | 212,066 |
| | 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 | 220,463 |
| | 9/01/31
– XLCA Insured | | | |
| 1,010 | Turlock
Irrigation District, California, Revenue Refunding Bonds, Series 1992A,
6.250%, | No Opt.
Call | Aaa | 1,068,257 |
| | 1/01/12
– MBIA Insured | | | |
| 2,070 | Total
Utilities | | | 2,145,270 |
| | Water and
Sewer – 2.5% | | | |
| 150 | Healdsburg
Public Financing Authority, California, Wastewater Revenue Bonds, Series
2006, | 4/16 at
100.00 | AAA | 155,478 |
| | 5.000%,
4/01/36 – MBIA Insured | | | |
| 250 | Sacramento
County Sanitation District Financing Authority, California, Revenue Bonds,
Series | 6/16 at
100.00 | AAA | 260,895 |
| | 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 | 840,205 |
| | 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+ | 1,006,810 |
| | Project,
Series 2003, 5.625%, 7/01/43 | | | |
| 2,225 | Total Water
and Sewer | | | 2,263,388 |
| $
93,345 | Total
Investments (cost $88,070,170) – 101.1% | | | 91,185,904 |
| | Floating Rate
Obligations – (1.9)% | | | (1,700,000) |
| | Other Assets
Less Liabilities – 0.8% | | | 733,670 |
| | Net Assets
– 100% | | | $ 90,219,574 |

| | 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 of Investments with a 0.000% 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) | 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) | Ratings: Using
the higher of Standard & Poor’s Group (“Standard &
Poor’s”) or Moody’s Investor Service, |
| | Inc.
(“Moody’s”) rating. Ratings below BBB by Standard &
Poor’s or Baa by Moody’s are considered to be |
| | below
investment grade. |
| | The AAA
ratings shown in the Portfolio of Investments reflect the AAA ratings on certain
bonds insured |
| | by AMBAC,
FGIC, XCLA or MBIA and/or the A ratings on certain bonds insured by ACA as of
December 31, |
| | 2007. During
December 2007, at least one rating agency reduced the rating for ACA bonds to
CCC. |
| | Subsequent to
December 31, 2007, at least one rating agency reduced the rating for
AMBAC-insured |
| | bonds to AA,
the rating for XCLA-insured bonds to A and the rating for FGIC-insured bonds to A3.
One or |
| | more rating
agencies have placed each of these insurers on “negative credit watch”,
which may presage |
| | one or more
rating reductions for such insurer or insurers in the future. If one or more
insurers’ ratings are |
| | reduced below
AAA (or A in the case of ACA) by these rating agencies, it would likely reduce the
effective |
| | rating of many
of the bonds insured by that insurer or insurers. |
| (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. Such investments are normally
considered to |
| | be equivalent
to AAA rated securities. |
| N/R | Not
rated. |
| (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. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

At December 31, 2007, the cost of investments was $86,367,654.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2007, were as follows:

| Gross
unrealized: | |
| --- | --- |
| Appreciation | $3,908,294 |
| Depreciation | (790,044) |
| Net unrealized
appreciation (depreciation) of investments | $3,118,250 |

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 February 29, 2008

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 February 29, 2008

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

Date February 29, 2008

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