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NUVEEN CALIFORNIA SELECT TAX FREE INCOME PORTFOLIO

Regulatory Filings Feb 27, 2015

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N-Q 1 nq2.htm NXC nq2.htm Licensed to: fgs Document Created using EDGARizerAgent 5.4.5.0 Copyright 1995 - 2013 Thomson Reuters. All rights reserved.

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 811-06623

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: 12/31/14

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
Nuveen California Select Tax-Free Income Portfolio (NXC)
December 31, 2014 (Unaudited)
Principal Amount (000) Description (1) Optional Call Provisions (2) Ratings (3) Value
LONG-TERM INVESTMENTS – 99.8%
MUNICIPAL BONDS – 99.8%
Consumer Staples – 3.8%
$ 85 California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, 6/15 at 100.00 BB+ $ 82,314
Sonoma County Tobacco Securitization Corporation, Series 2005, 4.250%, 6/01/21
250 California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Revenue 3/15 at 100.00 A1 250,003
Bonds, Fresno County Tobacco Funding Corporation, Series 2002, 5.625%, 6/01/23
1,450 Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 6/17 at 100.00 B 1,201,746
Bonds, Series 2007A-1, 5.000%, 6/01/33
1,095 Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed 6/22 at 100.00 B 908,215
Bonds, Series 2007A-2, 5.300%, 6/01/37
1,500 Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed 6/15 at 100.00 B– 1,188,000
Bonds, Series 2005A-1, 5.500%, 6/01/45
4,380 Total Consumer Staples 3,630,278
Education and Civic Organizations – 4.1%
3,000 California Educational Facilities Authority, Revenue Bonds, Santa Clara University, Series 4/18 at 100.00 Aa3 3,359,100
2008A, 5.625%, 4/01/37
45 California Educational Facilities Authority, Revenue Bonds, University of Redlands, Series 10/15 at 100.00 A3 45,585
2005A, 5.000%, 10/01/35
35 California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 11/15 at 100.00 A2 36,275
2006, 5.000%, 11/01/21
160 California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship 6/22 at 102.00 N/R 178,787
Education?Multiple Projects, Series 2014A , 7.250%, 6/01/43
250 California Statewide Communities Development Authority, School Facility Revenue Bonds, 7/21 at 100.00 BBB– 288,480
Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46
3,490 Total Education and Civic Organizations 3,908,227
Health Care – 5.5%
115 California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard 8/24 at 100.00 AA 131,255
Children’s Hospital, Series 2014A, 5.000%, 8/15/43
125 California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, 10/24 at 100.00 AA 144,221
Series 2014A, 5.000%, 10/01/38
255 California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, 10/24 at 100.00 AA 291,679
Series 2014B, 5.000%, 10/01/44
235 California Health Facilities Financing Authority, Revenue Bonds, Rady Children’s Hospital – 8/21 at 100.00 AA– 266,835
San Diego, Series 2011, 5.250%, 8/15/41
425 California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of 8/17 at 100.00 BBB+ 438,345
Los Angeles, Series 2007, 5.000%, 8/15/47
545 California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente 8/16 at 100.00 A+ 577,782
System, Series 2001C, 5.250%, 8/01/31
500 Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 11/19 at 100.00 Ba1 550,895
6.625%, 11/01/29
1,100 Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 11/20 at 100.00 Ba1 1,156,111
6.000%, 11/01/41
670 San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011, 12/21 at 100.00 BB 834,277
7.500%, 12/01/41
800 Upland, California, Certificates of Participation, San Antonio Community Hospital, Series 2011, 1/21 at 100.00 A– 945,000
6.500%, 1/01/41
4,770 Total Health Care 5,336,400
Housing/Multifamily – 1.0%
370 California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects 8/20 at 100.00 BBB 416,772
Series 2010A, 6.400%, 8/15/45
395 California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects 8/22 at 100.00 BBB 436,439
Series 2012A, 5.500%, 8/15/47
California Municipal Finance Authority, Mobile Home Park Senior Revenue Bonds, Caritas
Affordable Housing, Inc. Projects, Series 2014A:
25 5.250%, 8/15/39 8/24 at 100.00 BBB 27,675
65 5.250%, 8/15/49 8/24 at 100.00 BBB 71,432
855 Total Housing/Multifamily 952,318
Housing/Single Family – 0.0%
30 California Housing Finance Agency, Home Mortgage Revenue Bonds, Series 2006H, 5.750%, 2/16 at 100.00 A– 31,307
8/01/30 – FGIC Insured (Alternative Minimum Tax)
Industrials – 1.1%
1,015 California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Republic No Opt. Call BBB+ 1,106,786
Services Inc., Series 2002C, 5.250%, 6/01/23 (Mandatory put 12/01/17) (Alternative Minimum Tax)
Tax Obligation/General – 33.4%
1,650 California State, General Obligation Bonds, Various Purpose Series 2009, 5.500%, 11/01/39 11/19 at 100.00 Aa3 1,921,788
1,965 California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41 10/21 at 100.00 Aa3 2,206,636
2,000 California State, General Obligation Bonds, Various Purpose Series 2012, 5.250%, 4/01/35 4/22 at 100.00 Aa3 2,353,120
Golden West Schools Financing Authority, California, General Obligation Revenue Refunding
Bonds, School District Program, Series 1999A:
4,650 0.000%, 8/01/16 – NPFG Insured No Opt. Call AA– 4,551,606
1,750 0.000%, 2/01/17 – NPFG Insured No Opt. Call AA– 1,673,158
2,375 0.000%, 8/01/17 – NPFG Insured No Opt. Call AA– 2,241,335
2,345 0.000%, 2/01/18 – NPFG Insured No Opt. Call AA– 2,180,100
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 – NPFG Insured No Opt. Call Aa1 979,171
1,080 0.000%, 5/01/18 – NPFG Insured No Opt. Call Aa1 1,018,289
Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital
Appreciation, Election 2004 Series 2010A:
10,825 0.000%, 8/01/34 No Opt. Call A+ 4,251,302
3,250 0.000%, 8/01/35 No Opt. Call A+ 1,209,683
8,075 San Bernardino Community College District, California, General Obligation Bonds, Election of No Opt. Call Aa2 2,146,012
2008 Series 2009B, 0.000%, 8/01/44
2,565 Sunnyvale School District, Santa Clara County, California, General Obligation Bonds, Series 9/15 at 100.00 AA+ 2,644,720
2005A, 5.000%, 9/01/26 – AGM Insured
4,250 West Hills Community College District, California, General Obligation Bonds, School Facilities 8/31 at 100.00 AA 2,893,230
Improvement District 3, 2008 Election Series 2011, 0.000%, 8/01/38 – AGM Insured
47,795 Total Tax Obligation/General 32,270,150
Tax Obligation/Limited – 26.4%
1,000 Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, 3/15 at 100.00 N/R 1,000,260
Series 2003, 5.625%, 10/01/33 – RAAI Insured
2,000 California State Public Works Board, Lease Revenue Bonds, Department of Corrections & 9/23 at 100.00 A1 2,362,020
Rehabilitation, Various Correctional Facilities Series 2013F, 5.250%, 9/01/33
1,690 California State Public Works Board, Lease Revenue Bonds, Department of Corrections, No Opt. Call AA– 1,818,575
Calipatria State Prison, Series 1991A, 6.500%, 9/01/17 – NPFG Insured
1,500 California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series 11/19 at 100.00 A1 1,841,220
2009-I, 6.375%, 11/01/34
120 Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community 9/15 at 100.00 AA– 123,162
Facilities District 98-2, Series 2005, 5.000%, 9/01/24 – FGIC Insured
360 Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax 9/16 at 101.00 A 370,717
Allocation Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured
2,000 Escondido Joint Powers Financing Authority, California, Revenue Bonds, Water System Financing, 3/22 at 100.00 AA– 2,169,480
Series 2012, 5.000%, 9/01/41
1,000 Fontana Public Financing Authority, California, Tax Allocation Revenue Bonds, North Fontana 10/15 at 100.00 A 1,013,520
Redevelopment Project, Series 2005A, 5.000%, 10/01/32 – AMBAC Insured
270 Fontana Redevelopment Agency, San Bernardino County, California, Tax Allocation Bonds, Jurupa 4/15 at 100.00 A– 271,480
Hills Redevelopment Project, Refunding Series 1997A, 5.500%, 10/01/27
250 Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment 5/17 at 100.00 BBB+ 261,485
Project, Subordinate Lien Series 2007A-1, 5.000%, 5/01/23 – AMBAC Insured
Irvine Unified School District, California, Special Tax Bonds, Community Facilities District
Series 2006A:
55 5.000%, 9/01/26 9/16 at 100.00 N/R 56,361
130 5.125%, 9/01/36 9/16 at 100.00 N/R 133,129
1,215 Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester 9/15 at 100.00 A1 1,232,532
Social Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
135 National City Community Development Commission, California, Tax Allocation Bonds, National 8/21 at 100.00 A– 172,041
City Redevelopment Project, Series 2011, 6.500%, 8/01/24
1,000 Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Series 2009, 3/18 at 100.00 A+ 1,149,290
7.000%, 3/01/34
50 Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment 9/21 at 100.00 BBB+ 61,031
Project, Series 2011, 6.750%, 9/01/40
60 Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities District 2001-1, 9/23 at 100.00 N/R 67,878
Subordinate Lien Series 2013B , 5.875%, 9/01/39
Patterson Public Financing Authority, California, Revenue Bonds, Community Facilities District
2001-1, Senior Series 2013A:
350 5.250%, 9/01/30 9/33 at 100.00 N/R 393,110
320 5.750%, 9/01/39 9/41 at 100.00 N/R 363,498
Perris Union High School District Financing Authority, Riverside County, California, Revenue
Bonds, Series 2011:
50 6.000%, 9/01/33 (Pre-refunded 3/1/15) 3/15 at 103.00 N/R (4) 51,665
100 6.125%, 9/01/41 (Pre-refunded 3/1/15) 3/15 at 103.00 N/R (4) 103,306
415 Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community 9/18 at 100.00 BBB– 463,526
Development Project, Refunding Series 2008A, 6.500%, 9/01/28
160 Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series 9/21 at 100.00 BBB+ 185,301
2011A, 5.750%, 9/01/30
30 Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project 10/21 at 100.00 A– 37,563
Area, Series 2011B, 6.500%, 10/01/25
605 Sacramento City Financing Authority, California, Lease Revenue Refunding Bonds, Series 1993A, No Opt. Call AA– 670,770
5.400%, 11/01/20 – NPFG Insured
1,365 San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds, 4/22 at 100.00 AAA 1,557,383
Series 2012A, 5.000%, 4/01/42
65 San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax No Opt. Call N/R 70,207
Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements,
Refunding Series 2014, 5.000%, 8/01/39
25 San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, 2/21 at 100.00 A– 30,589
Mission Bay North Redevelopment Project, Series 2011C, 6.750%, 8/01/41
San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds,
Mission Bay South Redevelopment Project, Series 2011D:
25 7.000%, 8/01/33 2/21 at 100.00 BBB+ 30,421
30 7.000%, 8/01/41 2/21 at 100.00 BBB+ 36,505
615 San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment 8/17 at 100.00 AA– 661,346
Project, Series 2006C, 5.000%, 8/01/25 – NPFG Insured
3,000 San Mateo County Transit District, California, Sales Tax Revenue Bonds, Series 2005A, 5.000%, 6/15 at 100.00 AA 3,059,280
6/01/21 – NPFG Insured
1,000 Santa Clara County Board of Education, California, Certificates of Participation, Series 2002, 3/15 at 100.00 AA– 1,001,000
5.000%, 4/01/25 – NPFG Insured
1,000 Santa Clara Valley Transportation Authority, California, Sales Tax Revenue Bonds, Series 4/17 at 100.00 AA+ 1,083,460
2007A, 5.000%, 4/01/36 – AMBAC Insured
40 Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 4/21 at 100.00 N/R 45,778
7.000%, 10/01/26
1,000 Travis Unified School District, Solano County, California, Certificates of Participation, 9/16 at 100.00 A3 1,027,470
Series 2006, 5.000%, 9/01/26 – FGIC Insured
360 Turlock Public Financing Authority, California, Tax Allocation Revenue Bonds, Series 2011, 3/21 at 100.00 BBB+ 449,071
7.500%, 9/01/39
70 Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue Bonds, 9/21 at 100.00 A– 85,959
Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32
23,460 Total Tax Obligation/Limited 25,511,389
Transportation – 6.9%
1,150 Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1/15 at 100.00 BBB– 1,151,104
1995A, 5.000%, 1/01/35
530 Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding 1/24 at 100.00 BB+ 631,442
Bonds, Junior Lien Series 2013C, 6.500%, 1/15/43
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding
Bonds, Series 2013A:
1,000 5.000%, 1/15/42 – AGM Insured 1/24 at 100.00 AA 1,100,540
1,170 5.750%, 1/15/46 1/24 at 100.00 BBB– 1,354,778
1,175 6.000%, 1/15/53 1/24 at 100.00 BBB– 1,378,040
955 Port of Oakland, California, Revenue Bonds, Refunding Series 2012P, 5.000%, 5/01/31 No Opt. Call A+ 1,075,502
(Alternative Minimum Tax)
5,980 Total Transportation 6,691,406
U.S. Guaranteed – 9.8%
540 Loma Linda, California, Hospital Revenue Bonds, Loma Linda University Medical Center, Series 12/17 at 100.00 BBB (4) 656,732
2008A, 8.250%, 12/01/38 (Pre-refunded 12/01/17)
7,600 Merced Irrigation District, California, Certificates of Participation, Water and Hydroelectric 9/16 at 64.56 A (4) 4,865,062
Series 2008B, 0.000%, 9/01/23 (Pre-refunded 9/01/16)
100 Roseville Joint Union High School District, Placer County, California, General Obligation 8/15 at 100.00 AA (4) 102,845
Bonds, Series 2006B, 5.000%, 8/01/27 (Pre-refunded 8/01/15) – FGIC Insured
3,220 Sacramento City Unified School District, Sacramento County, California, General Obligation 7/15 at 100.00 A1 (4) 3,298,439
Bonds, Series 2005, 5.000%, 7/01/27 (Pre-refunded 7/01/15) – NPFG Insured
250 Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Series 6/16 at 100.00 AA (4) 266,350
2006, 5.000%, 12/01/31 (Pre-refunded 6/01/16) – FGIC Insured
225 San Mateo Union High School District, San Mateo County, California, Certificates of 12/17 at 100.00 N/R (4) 253,472
Participation, Phase 1, Series 2007A, 5.000%, 12/15/30 (Pre-refunded 12/15/17) –
AMBAC Insured
11,935 Total U.S. Guaranteed 9,442,900
Utilities – 2.3%
1,000 Imperial Irrigation District, California, Electric System Revenue Bonds, Refunding Series 11/20 at 100.00 AA– 1,159,870
2011A, 5.500%, 11/01/41
645 Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series No Opt. Call A 796,839
2007A, 5.500%, 11/15/37
215 Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%, 9/15 at 100.00 N/R 217,202
9/01/31 – SYNCORA GTY Insured
1,860 Total Utilities 2,173,911
Water and Sewer – 5.5%
1,000 Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost 4/23 at 100.00 AA– 1,163,820
Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/34
California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon
Resources Channelside LP Desalination Project, Series 2012:
375 5.000%, 7/01/37 (Alternative Minimum Tax) No Opt. Call Baa3 409,755
1,160 5.000%, 11/21/45 (Alternative Minimum Tax) No Opt. Call Baa3 1,255,607
150 Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006, 4/16 at 100.00 AA– 157,317
5.000%, 4/01/36 – NPFG Insured
1,970 Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 7/24 at 100.00 AA 2,282,127
2014A, 5.000%, 7/01/44
8,375 Total Water and Sewer 5,268,626
$ 110,225 Total Long-Term Investments (cost $87,338,421) 96,323,698
SHORT-TERM INVESTMENTS – 0.4%
MUNICIPAL BONDS – 0.4%
Health Care – 0.4%
$ 205 California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity No Opt. Call N/R $ 207,571
Health System, Series 2014A, 6.000%, 7/10/15 (5)
100 California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity No Opt. Call N/R 101,254
Health System, Series 2014B, 6.000%, 7/10/15 (5)
100 California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity No Opt. Call N/R 101,254
Health System, Series 2014C, 6.000%, 7/10/15 (5)
$ 405 Total Short-Term Investments (cost $405,000) 410,079
Total Investments (cost $87,743,421) – 100.2% 96,733,777
Other Assets Less Liabilities – (0.2)% (174,324)
Net Assets – 100% $ 96,559,453

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

Level 1 Level 2 Level 3 Total
Long-Term Investments:
Municipal Bonds $ — $96,323,698 $ — $96,323,698
Short-Term Investments:
Municipal Bonds 410,079 410,079
Total $ — $96,323,698 $ 410,079 $96,733,777

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

As of December 31, 2014, the cost of investments was $87,715,060.

Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2014, were as follows:

Gross unrealized:
Appreciation $9,207,365
Depreciation (188,648)
Net unrealized appreciation (depreciation) of investments $9,018,717
(1) All percentages shown in the Portfolio of Investments are based on net assets.
(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 highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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. Certain bonds backed by U.S. Government or
agency securities are regarded as having an implied rating equal to the rating of such securities.
(5) 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 categorized as Level 3.

Item 2. Controls and Procedures.

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

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

Item 3. Exhibits.

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

SIGNATURES

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

(Registrant) Nuveen California Select Tax-Free Income Portfolio

By (Signature and Title) /s/ Kevin J. McCarthy

Kevin J. McCarthy

Vice President and Secretary

Date: February 27, 2015

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 27, 2015

By (Signature and Title) /s/ Stephen D. Foy

Stephen D. Foy

Vice President and Controller (principal financial officer)

Date: February 27, 2015

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