NUVEEN CALIFORNIA SELECT TAX FREE INCOME PORTFOLIO

Regulatory Filings • Nov 8, 2024

N-CSRS 1 d872873dncsrs.htm NUVEEN CALIFORNIA SELECT TAX-FREE INCOME PORTFOLIO Nuveen California Select Tax-Free Income Portfolio

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

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)

Mark L. Winget

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Name and address of agent for service)

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

Date of fiscal year end: February 29

Date of reporting period: August 31, 2024

ITEM 1. Reports to Stockholders.

Closed-End Funds Closed-End Funds Nuveen Municipal August 31, 2024 Semi-Annual Report This semi-annual report contains the Funds' unaudited financial statements. Nuveen California Select Tax-Free Income Portfolio NXC Nuveen New York Select Tax-Free Income Portfolio NXN

2 Table of Contents Important Notices 3 Common Share Information 4 About the Funds’ Benchmarks 6 Fund Performance and Holdings Summaries 7 Portfolio of Investments 12 Statement of Assets and Liabilities 22 Statement of Operations 23 Statement of Changes in Net Assets 24 Financial Highlights 25 Notes to Financial Statements 27 Shareholder Meeting Report 35 Additional Fund Information 36 Glossary of Terms Used in this Report 37 Statement Regarding Basis for Approval of Investment Advisory Contract 38

Important Notices 3 Portfolio manager commentaries: The Funds include portfolio manager commentary in their annual shareholder reports. For your Fund’s most recent annual portfolio manager discussion, please refer to the Portfolio Managers’ Comments section of the Fund’s annual shareholder report. Fund changes: For changes that occurred to your Fund both during and after this reporting period, please refer to the Notes to Financial Statements section of this report. Fund principal investment policies and principal risks: Refer to the Shareholder Update section of your Fund’s annual shareholder report for information on the Fund’s principal investment policies and principal risks. Fund performance: For current information on your Fund’s average annual total returns please refer to the Fund’s website at www. nuveen.com . For average annual total returns as of the end of this reporting period, please refer to the Performance Overview and Holding Summaries section within this report. Management fees: As of May 1, 2024, each Fund’s overall complex-level fee begins at a maximum rate of 0.1600% of the Fund’s average daily net assets, with breakpoints for eligible complex-level assets above $124.3 billion. Changes in Independent Registered Public Accounting Firm (a) Previous independent registered public accounting firm: On October 24, 2024, the Funds’ Board of Trustees (the “Board”), upon recommendation from the Audit Committee, dismissed KPMG LLP (“KPMG”) as the independent registered public accounting firm for the Funds. KPMG’s audit reports on the Funds’ financial statements as of and for the fiscal years ended February 29, 2024 and February 28, 2023 contained no adverse opinion or disclaimer of opinion nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the Funds’ fiscal years ended February 29, 2024 and February 28, 2023, and for the period March 1, 2024 through October 24, 2024, there were no disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements if not resolved to the satisfaction of KPMG would have caused them to make reference in connection with their reports opinion to the subject matter of the disagreement. During the Funds’ fiscal years ended February 29, 2024 and February 28, 2023 and for the period March 1, 2024 through October 24, 2024, there were no reportable events (as defined in Regulation S-K Item 304(a)(1)(v)). The Funds provided KPMG with a copy of the foregoing disclosures and requested that KPMG furnish the Funds with a letter addressed to the U.S. Securities and Exchange Commission stating whether KPMG agrees with the above statements. (b) New independent registered public accounting firm: On October 24, 2024, the Board, upon recommendation from the Audit Committee, engaged PricewaterhouseCoopers LLP (“PwC”) as the new independent registered public accounting firm for the Funds. During the Funds’ fiscal years ended February 29, 2024 and February 28, 2023 and for the period March 1, 2024 through October 24, 2024, the Funds have not consulted with PwC regarding any of the matters described in Regulation S-K Item 304 (“S-K 304”), S-K 304(a)(2)(i) or S-K 304(a)(2)(ii) disclosure.

4 Common Share Information COMMON SHARE DISTRIBUTION INFORMATION The following information regarding the Funds' distributions is current as of August 31, 2024. Each Fund's distribution levels may vary over time based on each Fund's investment activity and portfolio investment value changes. During the current reporting period, each Fund's distributions to common shareholders were as shown in the accompanying table. Each Fund sought to pay regular monthly dividends out of its net investment income at a rate that reflected its past and projected net income performance. To permit each Fund to maintain a more stable monthly dividend, the Fund paid dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. Distributions to common shareholders are determined on a tax basis, which may differ from amounts recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund reported a negative undistributed net ordinary income. Refer to the Notes to Financial Statements for additional information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period. Each Fund intends to distribute all or substantially all of its net investment income each year through its regular monthly distribution and to distribute realized capital gains at least annually. In addition, in any monthly period, to maintain its declared per common share distribution amount, the Fund may distribute more or less than its net investment income during the period. In the event the Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital the NAV per share may erode. If a distribution includes anything other than net investment income, the Fund provides a notice of the best estimate of its distribution sources at the time of the distribution which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. NUVEEN CLOSED-END FUND DISTRIBUTION AMOUNTS The Nuveen Closed-End Funds’ monthly and quarterly periodic distributions to shareholders are posted on www.nuveen.com and can be found on Nuveen’s enhanced closed-end fund resource page, which is at https://www.nuveen.com/resource-center- closed-end-funds, along with other Nuveen closed-end fund product updates. To ensure timely access to the latest information, shareholders may use a subscribe function, which can be activated at this web page ( https://www.nuveen.com/subscriptions ). Per Common Share Amounts Monthly Distributions (Ex-Dividend Date) NXC NXN March $0.0455 $0.0410 April 0.0455 0.0410 May 0.0455 0.0410 June 0.0455 0.0410 July 0.0455 0.0410 August 0.0455 0.0410 Total Distributions from Net Investment Income $0.2730 $0.2460 Yields NXC NXN Market Yield 1 4.00% 4.14% Taxable-Equivalent Yield 1 8.69% 8.57% 1 Market Yield is based on the Fund’s current annualized monthly distribution 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 combined federal and state income tax rate of 54.1% and 51.7% for NXC and NXN, respectively. Your actual combined federal and state income tax rate may differ from the assumed rate. The Taxable-Equivalent Yield also takes into account the percentage of the Fund’s income generated and paid by the Fund (based on payments made during the previous calendar year) that was either exempt from federal income tax but not from state income tax (e.g., income from an out-of-state municipal bond), or was exempt from neither federal nor state income tax. Separately, if the comparison were instead to investments that generate qualified dividend income, which is taxable at a rate lower than an individual’s ordinary graduated tax rate, the fund’s Taxable-Equivalent Yield would be lower.

5 COMMON SHARE EQUITY During the current reporting period, NXC was authorized by the Securities and Exchange Commission to issue additional common shares through an equity shelf program (Shelf Offering). Under this program, the Fund, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or the Fund’s NAV per common share. The maximum aggregate offering under this Shelf Offerings are as shown in the accompanying table. During the current reporting period, NXC did not sell any common shares through its Shelf Offering. Refer to the Notes to Financial Statements for further details on Shelf Offerings and the Fund’s transactions. COMMON SHARE REPURCHASES The Funds’ Board of Trustees reauthorized an open-market share repurchase program, allowing each Fund to repurchase and retire an aggregate of up to approximately 10% of its outstanding common shares. As of August 31, 2024, (and since the inception of the Funds’ repurchase programs), each Fund has cumulatively repurchased and retired its outstanding common shares as shown in the accompanying table. NXC Maximum aggregate offering 1,300,000 NXC NXN Common shares repurchased and retired - - Common shares authorized for repurchase 635,000 390,000

6 About the Funds’ Benchmarks S&P Municipal Bond Index : An index designed to measure the performance of the tax-exempt U.S. municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. S&P Municipal Bond California Index: An index designed to measure the performance of the tax-exempt California municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees. S&P Municipal Bond New York Index: An index designed to measure the performance of the tax-exempt New York municipal bond market. Index returns assume reinvestment of distributions, but do not reflect any applicable sales charges or management fees.

Fund Performance and Holdings Summaries 7 The Fund Performance and Holding Summaries for each Fund are shown below within this section of the report. Fund Performance Performance data for each Fund shown below represents past performance and does not predict or guarantee future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund’s shares at NAV only. Indexes are not available for direct investment. Total returns for a period of less than one year are not annualized (i.e. cumulative returns). Since inception returns are shown for share classes that have less than 10-years of performance. For performance, current to the most recent month-end visit Nuveen.com or call (800) 257-8787. Holding Summaries The Holdings Summaries data relates to the securities held in each Fund’s portfolio of investments as of the end of this reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject to change. Refer to the Fund’s Portfolio of Investments for individual security information. For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor’s, Moody’s Investors Service, Inc. or Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.

8 Nuveen California Select Tax-Free Income Port- folio Fund Performance and Holding Summaries August 31, 2024 NXC Performance For purposes of Fund performance, relative results are measured against the S&P Municipal Bond California Index. Daily Common Share NAV and Share Price Total Returns as of August 31, 2024 Cumulative Average Annual Inception Date 6-Month 1-Year 5-Year 10-Year NXC at Common Share NAV 6/19/92 1.48% 6.37% 0.90% 2.92% NXC at Common Share Price 6/19/92 6.36% 10.82% 1.18% 2.76% S&P Municipal Bond Index — 1.94% 6.25% 1.19% 2.48% S&P Municipal Bond California Index — 1.74% 5.97% 1.00% 2.50% Common Share NAV Common Share Price Premium/(Discount) to NAV Average Premium/(Discount) to NAV $13.91 $13.66 (1.80)% (4.22)%

9 Holdings Fund Allocation (% of net assets) Municipal Bonds 96 .9‌ % Short-Term Municipal Bonds 0 .7‌ % Other Assets & Liabilities, Net 2.4% Net Assets 100‌ % Portfolio Credit Quality (% of total investment exposure) U.S. Guaranteed 7.1% AAA 4.9% AA 46.1% A 16.2% BBB 12.4% BB or Lower 2.1% N/R (not rated) 11.2% Total 100‌ % Portfolio Composition 1 (% of total investments) Tax Obligation/General 27.9% Utilities 17.3% Health Care 13.8% Transportation 13.2% Tax Obligation/Limited 11.0% Housing/Multifamily 9.0% U.S. Guaranteed 7.1% Other 0.7% Total 100% States and Territories 2 (% of total municipal bonds) California 97.7% Puerto Rico 2.3% Total 100% 1 See the Portfolio of Investments for the remaining industries/sectors comprising “Other” and not listed in the table above. 2 The Fund may invest up to 20% of its net assets in municipal bonds that are exempt from regular federal income tax, but not from California personal income tax if, in the judgement of the Fund's sub-adviser, such purchases are expected to enhance the Fund's after-tax total return potential.

10 Nuveen New York Select Tax-Free Income Portfolio Fund Performance and Holding Summaries August 31, 2024 NXN Performance For purposes of Fund performance, relative results are measured against the S&P Municipal Bond New York Index. Daily Common Share NAV and Share Price Total Returns as of August 31, 2024 Cumulative Average Annual Inception Date 6-Month 1-Year 5-Year 10-Year NXN at Common Share NAV 6/19/92 2.04% 6.58% 0.77% 2.36% NXN at Common Share Price 6/19/92 3.51% 5.64% 0.13% 2.45% S&P Municipal Bond Index — 1.94% 6.25% 1.19% 2.48% S&P Municipal Bond New York Index — 1.77% 6.22% 1.06% 2.37% Common Share NAV Common Share Price Premium/(Discount) to NAV Average Premium/(Discount) to NAV $12.76 $11.88 (6.90)% (7.87)%

11 Holdings Fund Allocation (% of net assets) Municipal Bonds 98 .7‌ % Other Assets & Liabilities, Net 1.3% Net Assets 100‌ % Bond Credit Quality (% of total investment exposure) U.S. Guaranteed 0.1% AAA 4.1% AA 48.3% A 10.3% BBB 23.7% BB or Lower 6.6% N/R (not rated) 6.9% Total 100‌ % Portfolio Composition 1 (% of total investments) Tax Obligation/Limited 27.8% Transportation 24.5% Health Care 12.7% Education and Civic Organizations 10.9% Tax Obligation/General 8.3% Utilities 7.9% Consumer Staples 4.4% Other 3.5% Total 100% States and Territories 2 (% of total municipal bonds) New York 94.3% Puerto Rico 3.6% Guam 2.1% Total 100% 1 See the Portfolio of Investments for the remaining industries/sectors comprising “Other” and not listed in the table above. 2 The Fund may invest up to 20% of its net assets in municipal bonds that are exempt from regular federal income tax, but not from New York personal income tax if, in the judgement of the Fund's sub-adviser, such purchases are expected to enhance the Fund's after-tax total return potential.

12 Nuveen California Select Tax-Free Income Portfolio Portfolio of Investments August 31, 2024 (Unaudited) NXC Principal Amount (000) Description (a) Optional Call Provisions (b) Value LONG-TERM INVESTMENTS - 96.9% (99.3% of Total Investments) X 85,823,911 MUNICIPAL BONDS - 96.9% (99.3% of Total Investments) X 85,823,911 CONSUMER STAPLES - 0.2% (0.2% of Total Investments) $ 20 California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49 6/30 at 100.00 $ 18,686 1,265 Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Series 2021B-2, 0.000%, 6/01/66 12/31 at 27.75 147,723 TOTAL CONSUMER STAPLES 166,409 EDUCATION AND CIVIC ORGANIZATIONS - 0.5% (0.5% of Total Investments) 60 (c) California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46 7/25 at 100.00 60,242 385 (c) California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C, 5.000%, 7/01/46 7/25 at 101.00 388,517 TOTAL EDUCATION AND CIVIC ORGANIZATIONS 448,759 HEALTH CARE - 12.7% (13.1% of Total Investments) California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B: 2,590 5.000%, 11/15/46 11/26 at 100.00 2,657,827 1,000 California Health Facilities Financing Authority, Revenue Bonds, Adventist Health System/West, Refunding Series 2016A, 4.000%, 3/01/39 3/26 at 100.00 974,903 1,240 California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2019, 4.000%, 11/15/45 11/29 at 100.00 1,196,465 1,000 California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A, 4.000%, 4/01/49 4/30 at 100.00 959,195 125 California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2024A, 5.250%, 12/01/49 6/34 at 100.00 139,042 1,365 California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente System, Series 2017A-2, 4.000%, 11/01/44 11/27 at 100.00 1,349,961 California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A: 70 5.000%, 10/01/38 10/24 at 100.00 70,030 255 California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B, 5.000%, 10/01/44 10/24 at 100.00 255,034 1,040 California Infrastructure and Economic Development Bank, Revenue Bonds, Adventist Health Energy Projects, Series 2024A, 5.250%, 7/01/54 6/34 at 100.00 1,118,003 450 California Municipal Finance Authority, Revenue Bonds, Community Health System, Series 2021A, 4.000%, 2/01/51 - AGM Insured 2/32 at 100.00 433,098 35 California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A, 5.000%, 7/01/47 7/27 at 100.00 35,265 130 California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A, 5.250%, 11/01/41 11/26 at 100.00 130,407 150 California Municipal Financing Authority, Certificates of Participation, Palomar Health, Series 2022A, 5.250%, 11/01/52 - AGM Insured 11/32 at 100.00 160,523 350 California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A, 5.250%, 12/01/34 12/24 at 100.00 351,110 1,365 (c) California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A, 5.250%, 12/01/56 6/26 at 100.00 1,380,681 70 California Statewide Community Development Authority, Health Revenue Bonds, Enloe Medical Center, Refunding Series 2022A, 5.250%, 8/15/52 - AGM Insured 8/32 at 100.00 75,789 TOTAL HEALTH CARE 11,287,333

13 Principal Amount (000) Description (a) Optional Call Provisions (b) Value HOUSING/MULTIFAMILY - 8.8% (9.0% of Total Investments) $ 615 (c) California Community Housing Agency, California, Essential Housing Revenue Bonds, Creekwood, Series 2021A, 4.000%, 2/01/56 8/31 at 100.00 $ 428,807 590 (c) California Community Housing Agency, California, Essential Housing Revenue Bonds, Glendale Properties, Junior Series 2021A-2, 4.000%, 8/01/47 8/31 at 100.00 488,915 800 (c) California Community Housing Agency, California, Essential Housing Revenue Bonds, Serenity at Larkspur Apartments, Series 2020A, 5.000%, 2/01/50 2/30 at 100.00 608,317 600 California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-2, 4.000%, 3/20/33 No Opt. Call 617,633 512 California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2021-1, 3.500%, 11/20/35 No Opt. Call 498,269 88 California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series2019-1, 4.250%, 1/15/35 No Opt. Call 91,630 510 California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Social Certificates Series 2023-1, 4.375%, 9/20/36 No Opt. Call 539,437 660 (c) CMFA Special Finance Agency I, California, Essential Housing Revenue Bonds, The Mix at Center City, Series 2021A-2, 4.000%, 4/01/56 4/31 at 100.00 530,160 225 (c) CMFA Special Finance Agency, California, Essential Housing Revenue Bonds, Enclave Apartments, Senior Series 2022A-1, 4.000%, 8/01/58 2/32 at 100.00 182,785 320 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, 777 Place-Pomona, Senior Lien Series 2021A-2, 3.250%, 5/01/57 5/32 at 100.00 229,500 425 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Acacia on Santa Rosa Creek, Senior Lien Series 2021A, 4.000%, 10/01/56 10/31 at 100.00 381,785 560 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-2, 4.000%, 10/01/56 10/31 at 100.00 457,899 750 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Center City Anaheim, Series 2020A, 5.000%, 1/01/54 1/31 at 100.00 673,593 540 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Moda at Monrovia Station, Social Series 2021A-2, 4.000%, 10/01/56 10/31 at 100.00 413,241 265 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Senior Lien Series 2021A- 1, 3.125%, 7/01/56 7/32 at 100.00 186,250 115 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Oceanaire-Long Beach, Social Series 2021A-2, 4.000%, 9/01/56 9/31 at 100.00 92,083 245 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Parallel-Anaheim Series 2021A, 4.000%, 8/01/56 8/31 at 100.00 220,522 50 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Mezzanine Senior Series 2021B, 4.000%, 12/01/56 12/31 at 100.00 38,239 100 CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Series 2021A-2, 3.000%, 12/01/56 12/31 at 100.00 70,876 185 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Union South Bay, Series 2021A-2, 4.000%, 7/01/56 7/31 at 100.00 152,117 160 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena Apartments, Senior Lien Series 2021A-1, 3.000%, 6/01/47 6/31 at 100.00 115,067 585 (c) CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena Apartments, Senior Lien Series 2021A-2, 3.125%, 6/01/57 6/31 at 100.00 364,477 600 CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Senior Lien Series 2021A-1, 3.000%, 12/01/49 6/32 at 100.00 431,704 TOTAL HOUSING/MULTIFAMILY 7,813,306

Nuveen California Select Tax-Free Income Portfolio (continued) Portfolio of Investments August 31, 2024 (Unaudited) 14 NXC Principal Amount (000) Description (a) Optional Call Provisions (b) Value TAX OBLIGATION/GENERAL - 27.3% (27.9% of Total Investments) $ 620 Butte-Glenn Community College District, Butte and Glenn Counties, California, General Obligation Bonds, Election 2016 Series 2017A, 5.250%, 8/01/46 8/27 at 100.00 $ 649,085 1,000 California State, General Obligation Bonds, Various Purpose Refunding Series 2015, 5.000%, 8/01/34 8/25 at 100.00 1,017,328 1,000 Chaffey Joint Union High School District, San Bernardino County, California, General Obligation Bonds, Election 2012 Series 2017C, 5.250%, 8/01/47 2/27 at 100.00 1,039,038 6,205 Desert Community College District, Riverside County, California, General Obligation Bonds, Election of 2016 Series 2024, 4.000%, 8/01/51 8/33 at 100.00 6,141,801 1,000 Marin Healthcare District, Marin County, California, General Obligation Bonds, 2013 Election, Series 2015A, 4.000%, 8/01/45 8/25 at 100.00 986,213 2,790 Natomas Unified School District, Sacramento County, California, General Obligation Bonds, Election of 2018, Series 2020A, 4.000%, 8/01/49 - AGM Insured 8/26 at 100.00 2,763,282 7,575 Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/34 No Opt. Call 4,718,748 65 Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1, 4.000%, 7/01/41 7/31 at 103.00 61,780 1,000 San Benito High School District, San Benito and Santa Clara Counties, California, General Obligation Bonds, 2016 Election Series 2017, 5.250%, 8/01/46 8/27 at 100.00 1,047,758 8,075 San Bernardino Community College District, California, General Obligation Bonds, Election of 2008 Series 2009B, 0.000%, 8/01/44 No Opt. Call 3,501,145 2,000 (d) West Hills Community College District, California, General Obligation Bonds, School Facilities Improvement District 3, 2008 Election Series 2011, 0.000%, 8/01/38 - AGM Insured 8/31 at 100.00 2,222,209 TOTAL TAX OBLIGATION/GENERAL 24,148,387 TAX OBLIGATION/LIMITED - 10.7% (11.0% of Total Investments) 925 Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project Area, Series 2003, 5.625%, 10/01/33 - RAAI Insured 9/24 at 100.00 927,019 20 Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Bonds, Refunding Subordinated Series 2014B, 5.000%, 9/02/36 9/24 at 100.00 20,009 15 Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1, 5.000%, 6/01/51 12/31 at 100.00 15,580 1,000 Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales Tax Revenue Bonds, Senior Series 2016A, 5.000%, 6/01/39 6/26 at 100.00 1,029,277 3,000 Los Angeles County Metropolitan Transportation Authority, California, Proposition C Sales Tax Revenue Bonds, Green Senior Lien Series 2019A, 5.000%, 7/01/44 7/28 at 100.00 3,176,692 1,000 Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Series 2009, 7.000%, 3/01/34 9/24 at 100.00 1,003,162 1,118 Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1, 5.000%, 7/01/58 7/28 at 100.00 1,122,944 550 Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2, 4.784%, 7/01/58 7/28 at 100.00 544,230 180 River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Refunding Series 2022A-1, 5.250%, 9/01/52 - AGM Insured 9/29 at 103.00 195,694 60 San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements, Refunding Series 2014, 5.000%, 8/01/39 2/25 at 100.00 60,252 15 Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011, 7.000%, 10/01/26 9/24 at 100.00 15,044 1,285 Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community Facility District 99-02, Series 2018A, 5.000%, 9/01/28 9/25 at 103.00 1,345,628

15 Principal Amount (000) Description (a) Optional Call Provisions (b) Value TAX OBLIGATION/LIMITED (continued) $ 60 Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series 2020A, 5.000%, 10/01/45 4/30 at 100.00 $ 61,969 TOTAL TAX OBLIGATION/LIMITED 9,517,500 TRANSPORTATION - 12.9% (13.2% of Total Investments) 60 California Municipal Finance Authority, Special Facility Revenue Bonds, United Airlines, Inc. Los Angeles International Airport Project, Series 2019, 4.000%, 7/15/29, (AMT) No Opt. Call 60,182 800 Long Beach, California, Harbor Revenue Bonds, Series 2015D, 5.000%, 5/15/42 5/25 at 100.00 808,494 1,860 Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Series 2022C, 4.000%, 5/15/40, (AMT) 5/32 at 100.00 1,831,240 1,525 Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2022A, 5.000%, 5/15/45, (AMT) 5/32 at 100.00 1,613,663 3,250 Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, RCTC 91 Express Lanes, Refunding Series 2021B-1, 4.000%, 6/01/39 6/31 at 100.00 3,298,778 305 San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B, 5.000%, 7/01/53, (AMT) 7/33 at 100.00 320,903 1,000 San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2021B, 5.000%, 7/01/46, (AMT) 7/31 at 100.00 1,044,571 1,400 San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2023C, 5.500%, 5/01/40, (AMT) 5/33 at 100.00 1,576,988 90 San Joaquin Hills Transportation Corridor Agency, Orange County, California, Refunding Senior Lien Toll Road Revenue Bonds, Series 2021A, 4.000%, 1/15/50 1/32 at 100.00 88,958 750 San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B, 5.250%, 1/15/44 1/25 at 100.00 753,679 TOTAL TRANSPORTATION 11,397,456 U.S. GUARANTEED - 6.9% (7.1% of Total Investments) (e) California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B: 410 5.000%, 11/15/46, (Pre-refunded 11/15/26) 11/26 at 100.00 432,194 2,500 California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2016A, 5.000%, 11/15/41, (Pre-refunded 11/15/25) 11/25 at 100.00 2,576,018 California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2014A: 55 5.000%, 10/01/38, (Pre-refunded 10/01/24) 10/24 at 100.00 55,082 Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Series 2015A: 1,350 5.000%, 6/01/40, (Pre-refunded 6/01/25) 6/25 at 100.00 1,375,640 1,650 5.000%, 6/01/40, (Pre-refunded 6/01/25) 6/25 at 100.00 1,681,338 TOTAL U.S. GUARANTEED 6,120,272 UTILITIES - 16.9% (17.3% of Total Investments) 840 California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024A, 5.000%, 5/01/54, (Mandatory Put 4/01/32) 1/32 at 100.21 910,084 California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project, Series 2012: 375 (c) 5.000%, 7/01/37, (AMT) 1/25 at 100.00 376,073 1,160 (c) 5.000%, 11/21/45, (AMT) 1/25 at 100.00 1,162,031 645 Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A, 5.500%, 11/15/37 No Opt. Call 756,363 2,000 Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2020B, 5.000%, 7/01/40 7/30 at 100.00 2,207,332

Nuveen California Select Tax-Free Income Portfolio (continued) Portfolio of Investments August 31, 2024 (Unaudited) 16 NXC Principal Amount (000) Description (a) Optional Call Provisions (b) Value UTILITIES (continued) Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2017A: $ 3,000 5.000%, 7/01/44 1/27 at 100.00 $ 3,105,308 2,900 4.000%, 7/01/47 1/27 at 100.00 2,870,729 1,000 Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2018B, 5.000%, 7/01/38 7/28 at 100.00 1,067,715 250 (c) Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A, 5.000%, 7/01/47 7/30 at 100.00 254,789 2,050 Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds, Sacramento Regional County Sanitation District, Series 2020A, 5.000%, 12/01/50 12/30 at 100.00 2,214,065 TOTAL UTILITIES 14,924,489 TOTAL MUNICIPAL BONDS (cost $83,866,680) 85,823,911 TOTAL LONG-TERM INVESTMENTS (cost $83,866,680) 85,823,911 Principal Amount (000) Description (a) Optional Call Provisions (b) Value SHORT-TERM INVESTMENTS - 0.7% (0.7% of Total Investments) X 600,000 MUNICIPAL BONDS - 0.7% (0.7% of Total Investments) X 600,000 HEALTH CARE - 0.7% (0.7% of Total Investments) $ 600 (f) California Health Facilities Financing Authority, California, Revenue Bonds, Scripps Health, Weekly Mode Series 2024C-1, 1.950%, 11/15/63 8/24 at 100.00 $ 600,000 TOTAL HEALTH CARE 600,000 TOTAL Municipal Bonds (cost $600,000) 600,000 TOTAL SHORT-TERM INVESTMENTS (cost $600,000) 600,000 TOTAL INVESTMENTS (cost $84,466,680) - 97.6% 86,423,911 OTHER ASSETS & LIABILITIES, NET - 2.4% 2,083,648 NET ASSETS APPLICABLE TO COMMON SHARES - 100% $ 88,507,559 (a) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. (b) 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. (c) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. As of the end of the reporting period, the aggregate value of these securities is $9,186,090 or 10.6% of Total Investments. (d) 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. (e) 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. (f) Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index. AMT Alternative Minimum Tax See Notes to Financial Statements

17 Nuveen New York Select Tax-Free Income Portfolio Portfolio of Investments August 31, 2024 (Unaudited) NXN Principal Amount (000) Description (a) Optional Call Provisions (b) Value LONG-TERM INVESTMENTS - 98.7% (100.0% of Total Investments) X 49,435,952 MUNICIPAL BONDS - 98.7% (100.0% of Total Investments) X 49,435,952 CONSUMER STAPLES - 4.4% (4.4% of Total Investments) $ 435 Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 5.000%, 6/01/38 9/24 at 100.00 $ 418,233 New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass- Through Bonds, Series Series 2016A-1: 195 5.625%, 6/01/35 No Opt. Call 200,219 1,530 5.750%, 6/01/43 No Opt. Call 1,565,225 TOTAL CONSUMER STAPLES 2,183,677 EDUCATION AND CIVIC ORGANIZATIONS - 10.7% (10.9% of Total Investments) 260 Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40 9/24 at 100.00 251,218 Build New York City Resource Corporation, New York, Revenue Bonds, Classical Charter Schools Series 2023A: 30 4.500%, 6/15/43 6/31 at 100.00 29,934 35 4.750%, 6/15/58 6/31 at 100.00 34,459 Build New York City Resource Corporation, New York, Revenue Bonds, KIPP New York City Public School Facilities, Canal West Project, Series 2022: 35 5.250%, 7/01/52 7/32 at 100.00 36,517 100 5.250%, 7/01/62 7/32 at 100.00 103,739 100 (c) Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020C-1, 5.000%, 6/01/40 12/30 at 100.00 97,023 115 (c) Build NYC Resource Corporation, New York, Revenue Bonds, Richmond Preparatory Charter School Project, Social Impact Project Series 2021A, 5.000%, 6/01/56 6/29 at 100.00 108,207 140 (c) Dormitory Authority of the State of New York, General Revenue Bonds, American Musical and Dramatic Academy Inc., Series 2023A, 12.250%, 7/01/53 7/33 at 100.00 140,703 Dormitory Authority of the State of New York, General Revenue Bonds, Yeshiva University, Series 2022A: 165 5.000%, 7/15/42 7/32 at 100.00 170,717 130 5.000%, 7/15/50 7/32 at 100.00 132,247 1,000 Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007, 5.250%, 7/01/34 - FGIC Insured No Opt. Call 1,046,892 605 Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/40 7/25 at 100.00 606,932 365 Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2016A, 5.000%, 7/01/41 1/27 at 100.00 373,243 290 Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2015A, 5.000%, 7/01/35 7/25 at 100.00 295,338 1,185 Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2016A, 5.000%, 7/01/35 7/26 at 100.00 1,230,888 250 (c) Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics & Technology, Series 2016A, 5.500%, 12/01/36 12/26 at 100.00 238,618 215 Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public Improvement Project, Capital Appreciation Series 2016C, 5.625%, 1/01/55 1/34 at 100.00 196,993 110 Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University Project, Series 2013, 5.000%, 9/01/38 9/24 at 100.00 110,079 180 New York City Industrial Development Agency, New York, PILOT Payment in Lieu of Taxes Revenue Bonds, Yankee Stadium Project, Series 2020A, 4.000%, 3/01/45 - AGM Insured 9/30 at 100.00 176,334 TOTAL EDUCATION AND CIVIC ORGANIZATIONS 5,380,081

Nuveen New York Select Tax-Free Income Portfolio (continued) Portfolio of Investments August 31, 2024 (Unaudited) 18 NXN Principal Amount (000) Description (a) Optional Call Provisions (b) Value FINANCIALS - 1.1% (1.1% of Total Investments) $ 450 Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series 2005, 5.250%, 10/01/35 No Opt. Call $ 526,151 TOTAL FINANCIALS 526,151 HEALTH CARE - 12.5% (12.7% of Total Investments) Dormitory Authority of the State of New York, General Revenue Bonds, Northwell Health Obligated Group, Series 2022A: 890 4.000%, 5/01/45 5/32 at 100.00 845,157 760 4.250%, 5/01/52 5/32 at 100.00 750,170 1,100 Dormitory Authority of the State of New York, Revenue Bonds, Montefiore Obligated Group, Series 2018A, 5.000%, 8/01/34 8/28 at 100.00 1,136,921 1,000 Dormitory Authority of the State of New York, Revenue Bonds, NYU Langone Hospitals Obligated Group, Series 2020A, 4.000%, 7/01/50 7/30 at 100.00 971,182 300 (c) Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2015, 5.000%, 12/01/40 6/25 at 100.00 293,628 Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017: 65 (c) 5.000%, 12/01/24 No Opt. Call 65,031 200 (c) 5.000%, 12/01/32 6/27 at 100.00 200,118 100 (c) 5.000%, 12/01/35 6/27 at 100.00 99,087 500 Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B, 4.000%, 7/01/41 7/26 at 100.00 493,250 195 Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2017, 5.000%, 12/01/46 12/26 at 100.00 196,630 420 Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester Regional Health Project, Series 2020A, 4.000%, 12/01/46 12/30 at 100.00 386,196 835 Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Refunding Series 2016, 5.000%, 11/01/46 11/25 at 100.00 798,279 25 Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Series 2023, 6.250%, 11/01/52 11/33 at 100.00 28,528 TOTAL HEALTH CARE 6,264,177 INDUSTRIALS - 1.8% (1.8% of Total Investments) 865 (c) New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44 11/24 at 100.00 865,724 10 New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 7 World Trade Center Project, Refunding Green Series 2022A-CL2, 3.500%, 9/15/52 3/30 at 100.00 8,495 TOTAL INDUSTRIALS 874,219 LONG-TERM CARE - 0.2% (0.2% of Total Investments) 80 Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31 9/24 at 100.00 78,372 25 Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint Ann's Community Project, Series 2019, 5.000%, 1/01/40 1/26 at 103.00 23,640 TOTAL LONG-TERM CARE 102,012 MATERIALS - 0.3% (0.3% of Total Investments) 160 (c) Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds, Pratt Paper NY, Inc. Project, Series 2014, 5.000%, 1/01/35, (AMT) 1/25 at 100.00 160,531 TOTAL MATERIALS 160,531

19 Principal Amount (000) Description (a) Optional Call Provisions (b) Value TAX OBLIGATION/GENERAL - 8.2% (8.3% of Total Investments) $ 1,000 Nassau County, New York, General Obligation Bonds, General Improvement Bonds Series 2019B, 5.000%, 4/01/44 - AGM Insured 4/30 at 100.00 $ 1,077,680 1,000 Nassau County, New York, General Obligation Bonds, General Improvement Series 2021A, 4.000%, 4/01/51 - AGM Insured 4/31 at 100.00 990,413 1,080 New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41 12/26 at 100.00 1,113,721 835 New York City, New York, General Obligation Bonds, Fiscal 2020 SeriesD-1, 4.000%, 3/01/50 3/30 at 100.00 816,260 117 Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1, 4.000%, 7/01/41 7/31 at 103.00 111,204 TOTAL TAX OBLIGATION/GENERAL 4,109,278 TAX OBLIGATION/LIMITED - 27.4% (27.8% of Total Investments) 1,000 Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2015A, 5.000%, 3/15/31 3/25 at 100.00 1,010,805 1,000 Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Bidding Group 1 Through 5, Series 2020A, 4.000%, 3/15/44 9/30 at 100.00 992,179 2,975 Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2017A Group C, 5.000%, 3/15/41 3/27 at 100.00 3,073,375 1,000 Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2018A, 5.000%, 3/15/40 3/28 at 100.00 1,052,368 1,000 Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/25 No Opt. Call 1,019,218 250 Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Green Fiscal 2022 Series A, 4.000%, 2/15/36 2/32 at 100.00 263,201 800 Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A, 5.000%, 2/15/45 2/27 at 100.00 823,741 1,000 New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2, 5.000%, 7/15/40 7/25 at 100.00 1,014,702 1,000 New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2023F-1, 4.000%, 2/01/51 2/33 at 100.00 977,347 1,120 New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, General Purpose Group 1, Series 2019A, 4.000%, 3/15/48 9/28 at 100.00 1,100,317 1,275 Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1, 5.000%, 7/01/58 7/28 at 100.00 1,280,639 65 Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, Senior Lien Series 2021B-1, 4.000%, 5/15/56 5/31 at 100.00 63,476 315 Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, Senior Lien Series 2022 A, 4.000%, 5/15/51 5/32 at 100.00 309,884 685 Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Senior Lien Bonds, Series 2022C, 5.250%, 5/15/52 5/32 at 100.00 746,672 TOTAL TAX OBLIGATION/LIMITED 13,727,924 TRANSPORTATION - 24.2% (24.5% of Total Investments) 900 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014D-1, 5.000%, 11/15/39 11/24 at 100.00 902,037 620 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 5.250%, 11/15/56 11/26 at 100.00 631,545 New York Transportation Development Corporation, New York, Facility Revenue Bonds, Thruway Service Areas Project, Series 2021: 365 4.000%, 10/31/41, (AMT) 10/31 at 100.00 336,672 85 4.000%, 10/31/46, (AMT) 10/31 at 100.00 75,564 535 4.000%, 4/30/53, (AMT) 10/31 at 100.00 459,510 New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A: 100 5.000%, 7/01/46, (AMT) 9/24 at 100.00 99,996 1,110 5.250%, 1/01/50, (AMT) 9/24 at 100.00 1,109,987

Nuveen New York Select Tax-Free Income Portfolio (continued) Portfolio of Investments August 31, 2024 (Unaudited) 20 NXN Principal Amount (000) Description (a) Optional Call Provisions (b) Value TRANSPORTATION (continued) New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016: $ 85 5.000%, 8/01/26, (AMT) 9/24 at 100.00 $ 85,129 830 5.000%, 8/01/31, (AMT) 9/24 at 100.00 830,934 30 New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Series 2020, 5.375%, 8/01/36, (AMT) 8/30 at 100.00 32,011 New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023: 105 6.000%, 6/30/54, (AMT) 6/31 at 100.00 114,785 465 5.375%, 6/30/60, (AMT) 6/31 at 100.00 485,235 85 New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2020A, 5.000%, 12/01/37, (AMT) 12/30 at 100.00 89,820 130 New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2020C, 5.000%, 12/01/35 12/30 at 100.00 140,719 265 New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, 5.000%, 12/01/35, (AMT) 12/32 at 100.00 286,401 New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018: 700 5.000%, 1/01/28, (AMT) No Opt. Call 729,070 300 5.000%, 1/01/31, (AMT) 1/28 at 100.00 310,602 300 New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2023, 6.000%, 4/01/35, (AMT) 4/31 at 100.00 337,483 1,000 Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Ninety-Fourth Series 2015, 5.250%, 10/15/55 10/25 at 100.00 1,019,818 1,500 Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Fifth Series 2017, 5.000%, 11/15/47 11/27 at 100.00 1,556,514 1,475 Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Twenty-One Series 2020, 4.000%, 7/15/55, (AMT) 7/30 at 100.00 1,370,417 1,095 Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2017A2, 5.000%, 11/15/42 5/27 at 100.00 1,133,140 TOTAL TRANSPORTATION 12,137,389 U.S. GUARANTEED - 0.1% (0.1% of Total Investments) (d) Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2015A: 20 5.000%, 7/01/31, (Pre-refunded 7/01/25) 7/25 at 100.00 20,398 25 5.000%, 7/01/33, (Pre-refunded 7/01/25) 7/25 at 100.00 25,498 TOTAL U.S. GUARANTEED 45,896 UTILITIES - 7.8% (7.9% of Total Investments) 200 Buffalo Municipal Water Finance Authority, New York, Water System Revenue Bonds, Refunding Series 2015A, 5.000%, 7/01/29 7/25 at 100.00 203,203 140 Long Island Power Authority, New York, Electric System General Revenue Bonds, Green Series 2023E, 5.000%, 9/01/53 9/33 at 100.00 152,323 50 Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/44 11/24 at 100.00 50,196 180 Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2016B, 5.000%, 9/01/46 9/26 at 100.00 184,803 1,500 New York State Power Authority, General Revenue Bonds, Series 2020A, 4.000%, 11/15/60 5/30 at 100.00 1,459,871 265 New York State Power Authority, Green Transmission Project Revenue Bonds, Green Series 2023A, 5.000%, 11/15/53 - AGM Insured 11/33 at 100.00 292,780

21 Principal Amount (000) Description (a) Optional Call Provisions (b) Value UTILITIES (continued) $ 150 (c) Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2018A, 4.750%, 11/01/42, (AMT) 9/24 at 100.00 $ 143,821 405 (c) Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A, 5.000%, 7/01/47 7/30 at 100.00 412,759 1,000 Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015, 5.000%, 12/15/33 12/25 at 100.00 1,024,861 TOTAL UTILITIES 3,924,617 TOTAL MUNICIPAL BONDS (cost $48,771,307) 49,435,952 TOTAL LONG-TERM INVESTMENTS (cost $48,771,307) 49,435,952 OTHER ASSETS & LIABILITIES, NET - 1.3% 651,704 NET ASSETS APPLICABLE TO COMMON SHARES - 100% $ 50,087,656 (a) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. (b) 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. (c) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. As of the end of the reporting period, the aggregate value of these securities is $2,825,250 or 5.7% of Total Investments. (d) 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. AMT Alternative Minimum Tax See Notes to Financial Statements

Statement of Assets and Liabilities See Notes to Financial Statements 22 August 31, 2024 (Unaudited) NXC NXN ASSETS Long-term investments, at value † $ 85,823,911‌ $ 49,435,952‌ Short-term investments, at value ◊ 600,000‌ –‌ Cash 1,291,183‌ 201,799‌ Receivables: Interest 787,036‌ 642,176‌ Investments sold 170,341‌ –‌ Deferred offering costs 164,582‌ –‌ Other 23,477‌ 14,194‌ Total assets 88,860,530‌ 50,294,121‌ LIABILITIES Payables: Management fees 19,359‌ 10,945‌ Dividends 278,516‌ 153,572‌ Interest 32‌ 18‌ Accrued expenses: Custodian fees 15,547‌ 10,274‌ Investor relations 883‌ 1,114‌ Trustees fees 17,481‌ 10,682‌ Professional fees 16,789‌ 16,505‌ Shareholder reporting expenses 3,820‌ 2,803‌ Shareholder servicing agent fees 290‌ 298‌ Other 254‌ 254‌ Total liabilities 352,971‌ 206,465‌ Net assets applicable to common shares $ 88,507,559‌ $ 50,087,656‌ Common shares outstanding 6,362,276‌ 3,924,894‌ Net asset value ("NAV") per common share outstanding $ 13.91‌ $ 12.76‌ NET ASSETS APPLICABLE TO COMMON SHARES CONSIST OF: Common shares, $0.01 par value per share $ 63,623‌ $ 39,249‌ Paid-in capital 88,550,088‌ 53,856,607‌ Total distributable earnings (loss) (106,152‌) (3,808,200‌) Net assets applicable to common shares $ 88,507,559‌ $ 50,087,656‌ Authorized shares: Common Unlimited Unlimited † Long-term investments, cost $ 83,866,680‌ $ 48,771,307‌ ◊ Short-term investments, cost $ 600,000‌ $ —‌

Statement of Operations See Notes to Financial Statements 23 Six Months Ended August 31, 2024 (Unaudited) NXC NXN INVESTMENT INCOME Interest $ 1,859,631‌ $ 1,095,975‌ Total investment income 1,859,631‌ 1,095,975‌ EXPENSES – – Management fees 114,564‌ 64,774‌ Shareholder servicing agent fees 892‌ 882‌ Interest expense 785‌ 1,826‌ Trustees fees 1,655‌ 935‌ Custodian expenses, net 8,518‌ 7,024‌ Investor relations expenses 2,357‌ 1,419‌ Professional fees 30,076‌ 25,008‌ Shareholder reporting expenses 12,284‌ 8,448‌ Stock exchange listing fees 3,934‌ 3,933‌ Other 5,027‌ 5,533‌ Total expenses 180,092‌ 119,782‌ Net investment income (loss) 1,679,539‌ 976,193‌ REALIZED AND UNREALIZED GAIN (LOSS) Realized gain (loss) from: Investments ( 32,375‌ ) ( 2,986‌ ) Net realized gain (loss) ( 32,375‌ ) ( 2,986‌ ) Change in unrealized appreciation (depreciation) on: Investments ( 371,558‌ ) 22,564‌ Net change in unrealized appreciation (depreciation) ( 371,558‌ ) 22,564‌ Net realized and unrealized gain (loss) ( 403,933‌ ) 19,578‌ Net increase (decrease) in net assets applicable to common shares from operations $ 1,275,606‌ $ 995,771‌

Statement of Changes in Net Assets See Notes to Financial Statements 24 NXC NXN Six Months Ended 8/31/24 Year Ended 2/29/24 Six Months Ended 8/31/24 Year Ended 2/29/24 OPERATIONS Net investment income (loss) $ 1,679,539‌ $ 3,377,952‌ $ 976,193‌ $ 1,931,633‌ Net realized gain (loss) ( 32,375‌ ) ( 415,351‌ ) ( 2,986‌ ) ( 478,539‌ ) Net change in unrealized appreciation (depreciation) ( 371,558‌ ) 2,135,308‌ 22,564‌ 1,533,719‌ Net increase (decrease) in net assets applicable to common shares from operations 1,275,606‌ 5,097,909‌ 995,771‌ 2,986,813‌ DISTRIBUTIONS TO COMMON SHAREHOLDERS Dividends ( 1,736,901‌ ) ( 3,359,282‌ ) ( 965,524‌ ) ( 1,921,236‌ ) Total distributions ( 1,736,901‌ ) ( 3,359,282‌ ) ( 965,524‌ ) ( 1,921,236‌ ) CAPITAL SHARE TRANSACTIONS Common shares: Reinvestments of distributions —‌ 6,412‌ —‌ —‌ Net increase (decrease) applicable to common shares from capital share transactions —‌ 6,412‌ —‌ —‌ Net increase (decrease) in net assets applicable to common shares ( 461,295‌ ) 1,745,039‌ 30,247‌ 1,065,577‌ Net assets applicable to common shares at the beginning of the period 88,968,854‌ 87,223,815‌ 50,057,409‌ 48,991,832‌ Net assets applicable to common shares at the end of the period $ 88,507,559‌ $ 88,968,854‌ $ 50,087,656‌ $ 50,057,409‌

25 Financial Highlights The following data is for a common share outstanding for each fiscal year end unless otherwise noted: Investment Operations Less Distributions to Common Shareholders Common Share Common Share Net Asset Value, Beginning of Period Net Investment Income (NII) (Loss)(a) Net Realized/ Unrealized Gain (Loss) Total From NII From Net Realized Gains Total Net Asset Value, End of Period Share Price, End of Period NXC 8/31/24(d) $ 13.98 $ 0.26 $ (0.06) $ 0.20 $ (0.27) $ — $ (0.27) $ 13.91 $ 13.66 2/29/24 13.71 0.53 0.27 0.80 (0.53) — (0.53) 13.98 13.11 2/28/23 15.15 0.51 (1.46) (0.95) (0.49) —(f) (0.49) 13.71 13.89 2/28/22(g) 15.83 0.45 (0.65) (0.20) (0.44) (0.04) (0.48) 15.15 14.81 3/31/21 15.43 0.51 0.41 0.92 (0.52) — (0.52) 15.83 16.29 3/31/20 15.21 0.53 0.21 0.74 (0.52) — (0.52) 15.43 14.50 NXN 8/31/24(d) 12.75 0.25 0.01 0.26 (0.25) — (0.25) 12.76 11.88 2/29/24 12.48 0.49 0.27 0.76 (0.49) — (0.49) 12.75 11.72 2/28/23 13.89 0.45 (1.44) (0.99) (0.42) — (0.42) 12.48 12.15 2/28/22(g) 14.35 0.38 (0.46) (0.08) (0.38) — (0.38) 13.89 12.92 3/31/21 13.99 0.46 0.37 0.83 (0.47) — (0.47) 14.35 14.50 3/31/20 14.08 0.49 (0.11) 0.38 (0.47) — (0.47) 13.99 12.65 (a) Based on average shares outstanding. (b) Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at Common Share 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.

See Notes to Financial Statements 26 Ratios of Interest Expense to Average Net Assets Applicable to Common Shares NXC 8/31/24(d) — % 2/29/24 — 2/28/23 — 2/28/22(g) — 3/31/21 — 3/31/20 — NXN 8/31/24(d) 0.01 (e ) 2/29/24 — (f ) 2/28/23 — (f ) 2/28/22(g) — (e ) (f ) 3/31/21 — (f ) 3/31/20 0.02 Common Share Supplemental Data/ Ratios Applicable to Common Shares Common Share Total Returns Ratios to Average Net Assets Based on Net Asset Value(b) Based on Share Price(b) Net Assets, End of Period (000) Expenses(c) Net Investment Income (Loss)(c) Portfolio Turnover Rate 1.48‌ % 6.36‌ % $ 88,508 0.40‌ % (e) 3.78‌ % (e) 4‌ % 5.96‌ (1.69‌) 88,969 0.36‌ 3.87‌ 17‌ (6.23‌) (2.77‌) 87,224 0.36‌ 3.63‌ 43‌ (1.34‌) (6.27‌) 96,352 0.35‌ (e) 3.14‌ (e) 9‌ (6.05‌) 16.13‌ 100,600 0.35‌ 3.26‌ 5‌ 4.86‌ 6.26‌ 98,013 0.36‌ 3.41‌ 10‌ 2.04‌ 3.51‌ 50,088 0.48‌ (e) 3.89‌ (e) 1‌ 6.22‌ 0.54‌ 50,057 0.42‌ 3.93‌ 24‌ (7.14‌) (2.57‌) 48,992 0.42‌ 3.49‌ 62‌ (0.62‌) (8.43‌) 54,533 0.40‌ (e) 2.86‌ (e) 16‌ 5.98‌ 18.66‌ 56,311 0.40‌ 3.25‌ 14‌ 2.69‌ (3.18‌) 54,893 0.43‌ 3.39‌ 5‌ (c) • Net Investment Income (Loss) ratios reflect income earned and expenses incurred on assets attributable to borrowings (as described in Notes to Financial Statements), where applicable. • The expense ratios reflect, among other things, all interest expenses and other costs related to borrowings (as described in Notes to Financial Statements) 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 Notes to Financial Statements), where applicable, as follows: (d) Unaudited. (e) Annualized. (f) Value rounded to zero. (g) For the eleven months ended February 28, 2022.

Notes to Financial Statements (Unaudited) 27 1. General Information Fund Information: The funds covered in this report and their corresponding New York Stock Exchange (“NYSE”) symbols are as follows (each a “Fund” and collectively, the “Funds”): Nuveen California Select Tax-Free Income Portfolio (NXC) Nuveen New York Select Tax-Free Income Portfolio (NXN) The Funds are registered under the Investment Company Act of 1940 (the “1940 Act”), as amended, as diversified closed-end management investment companies. NXC and NXN were organized as Massachusetts business trusts on March 30, 1992. Current Fiscal Period: The end of the reporting period for the Funds is August 31, 2024, and the period covered by these Notes to Financial Statements is the six months ended August 31, 2024 (the "current fiscal period"). Investment Adviser and Sub-Adviser: The Fund’s investment adviser is Nuveen Fund Advisors, LLC (the “Adviser”), a subsidiary of Nuveen, LLC (“Nuveen”). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds’ portfolios, manages the Funds’ business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub- advisory agreements with Nuveen Asset Management, LLC (the “Sub-Adviser”), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds. 2. Significant Accounting Policies The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. Each Fund is an investment company and follows accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services – Investment Companies. The net asset value (“NAV”) for financial reporting purposes may differ from the NAV for processing security and shareholder transactions. The NAV for financial reporting purposes includes security and common shares transactions through the date of the report. Total return is computed based on the NAV used for processing security and common shares transactions. The following is a summary of the significant accounting policies consistently followed by the Funds. Compensation: The Funds pay no compensation directly to those of its officers, all of whom receive remuneration for their services to the Funds from the Adviser or its affiliates. The Funds' Board of Trustees (the "Board") has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds. Distributions to Common Shareholders: Distributions to common shareholders are recorded on the ex-dividend date. The amount, character and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. The Funds’ distribution policy, which may be changed by the Board, is to make regular monthly cash distributions to holders of their common shares (stated in terms of a fixed cents per common share dividend distributions rate which may be set from time to time). Each Fund intends to distribute all or substantially all of its net investment income each year through its regular monthly distribution and to distribute realized capital gains at least annually. In addition, in any monthly period, to maintain its declared per common share distribution amount, a Fund may distribute more or less than its net investment income during the period. In the event a Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital the NAV per share may erode. Indemnifications: Under the Funds' organizational documents, their officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. Investments and Investment Income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains and losses on securities transactions are based upon the specific identification method. Investment income is comprised of interest income, which is recorded on an accrual basis and includes accretion of discounts and amortization of premiums for financial reporting purposes. Investment income also reflects payment-in-kind (“PIK”) interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash. Netting Agreements: In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities

28 Notes to Financial Statements (Unaudited) (continued) collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting agreements, collateral posted to the Funds is held in a segregated account by the Funds’ custodian and/or with respect to those amounts which can be sold or repledged , are presented in the Funds’ Portfolio of Investments or Statement of Assets and Liabilities. The Funds’ investments subject to netting agreements as of the end of the reporting period, if any, are further described later in these Notes to Financial Statements. 3. Investment Valuation and Fair Value Measurements The Funds’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to oversight of the Board. 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. U.S. GAAP establishes the three-tier hierarchy which 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 management’s 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, credit spreads, etc.). Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). A description of the valuation techniques applied to the Funds’ major classifications of assets and liabilities measured at fair value follows: Prices of fixed-income securities are generally provided by pricing services approved by the Adviser, which is subject to review by the Adviser and oversight of the Board. Pricing services establish a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, pricing services may consider information about a security, its issuer or market activity provided by the Adviser. These securities are generally classified as Level 2. For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. To the extent the inputs are observable and timely, the values would be classified as Level 2; otherwise they would be classified as Level 3. The following table summarizes the market value of the Funds’ investments as of the end of the reporting period, based on the inputs used to value them: 4. Portfolio Securities Inverse Floating Rate Securities: Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond (referred to as an “Underlying Bond”), typically with a fixed interest rate, into a special purpose tender option bond (“TOB”) trust (referred to as the “TOB Trust”) created by or at the direction of one or more Funds. In turn, the TOB Trust issues (a) floating rate certificates (referred to as “Floaters”), in face amounts equal to some fraction of the Underlying Bond’s par amount or market value, and (b) an inverse floating rate certificate (referred to as an “Inverse Floater”) that represents all remaining or residual interest in the TOB Trust. Floaters NXC Level 1 Level 2 Level 3 Total Long-Term Investments: Municipal Bonds $ – $ 85,823,911 $ – $ 85,823,911 Short-Term Investments: Municipal Bonds – 600,000 – 600,000 Total $ – $ 86,423,911 $ – $ 86,423,911 NXN Level 1 Level 2 Level 3 Total Long-Term Investments: Municipal Bonds $ – $ 49,435,952 $ – $ 49,435,952 Total $ – $ 49,435,952 $ – $ 49,435,952

29 typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value, which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider (“Liquidity Provider”), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more of the Funds. The income received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse Floater holder bears substantially all of the Underlying Bond’s downside investment risk and also benefits disproportionately from any potential appreciation of the Underlying Bond’s value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond. The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more than par in certain circumstances), and (b) have the trustee of the TOB Trust (the “Trustee”) transfer the Underlying Bond held by the TOB Trust to the Fund, thereby collapsing the TOB Trust. The Fund may acquire an Inverse Floater in a transaction where it (a) transfers an Underlying Bond that it owns to a TOB Trust created by a third party or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a “self-deposited Inverse Floater”). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first owning the Underlying Bond (referred to as an “externally-deposited Inverse Floater”). An investment in a self-deposited Inverse Floater is accounted for as a “financing” transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund’s Portfolio of Investments as “(UB) – Underlying bond of an inverse floating rate trust reflected as a financing transaction,” with the Fund recognizing as liabilities, labeled “Floating rate obligations” on the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in “Investment Income” the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust’s borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of “Interest expense” on the Statement of Operations. Earnings due from the Underlying Bond and interest due to the holders of the Floaters as of the end of the reporting period are recognized as components of “Receivable for interest” and “Payable for interest” on the Statement of Assets and Liabilities, respectively. In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund’s Portfolio of Investments as “(IF) – Inverse floating rate investment.” For an externally-deposited Inverse Floater, a Fund’s Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in “Investment Income” only the net amount of earnings on the Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations. Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust. During the current fiscal period, the Funds did not have any transactions in self-deposited Inverse Floaters and/or externally-deposited Inverse Floaters. Zero Coupon Securities: A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. 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. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically. Purchases and Sales: Long-term purchases and sales during the current fiscal period were as follows: The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation during this period. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the reporting period, such amounts are recognized on the Statement of Assets and Liabilities. Fund Non-U.S. Government Purchases Non-U.S. Government Sales and Maturities NXC $ 3,323,432 $ 4,389,533 NXN 976,020 530,000

30 Notes to Financial Statements (Unaudited) (continued) 5. Derivative Investments Each Fund is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Investments in derivatives as of the end of and/or during the current fiscal period, if any, are included within the Statement of Assets and Liabilities and the Statement of Operations, respectively. Market and Counterparty Credit Risk: In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund’s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities. Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount. 6. Fund Shares Common Shares Equity Shelf Programs and Offering Costs: NXC has filed a registration statement with the Securities and Exchange Commission (“SEC”) authorizing the Fund to issue additional common shares through one or more equity shelf programs (“Shelf Offering”), which became effective with the SEC during a prior fiscal period. Under this Shelf Offering, the Fund, subject to market conditions, may raise additional equity capital by issuing additional common shares from time to time in varying amounts and by different offering methods at a net price at or above the Fund’s NAV per common share. In the event the Fund’s Shelf Offering registration statement is no longer current, the Fund may not issue additional common shares until a post-effective amendment to the registration statement has been filed with the SEC. Additional authorized common shares, common shares sold and offering proceeds, net of offering costs under each Fund’s Shelf Offering during the Fund’s current and prior fiscal period were as follows: Costs incurred by the Fund in connection with its initial shelf registrations are recorded as a prepaid expense and recognized as “Deferred offering costs” on the Statement of Assets and Liabilities. These costs are amortized pro rata as common shares are sold and are recognized as a component of “Proceeds from shelf offering, net of offering costs” on the Statement of Changes in Net Assets. Any deferred offering costs remaining after the effectiveness of the initial shelf registration will be expensed. Costs incurred by the Fund to keep the shelf registration current are expensed as incurred and recognized as a component of “Other expenses” on the Statement of Operations. Common Share Transactions: Transactions in common shares for the Fund during the Fund's current and prior fiscal period, where applicable, were as follows: 7. Income Tax Information Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. NXC Six Month Ended 8/31/24 Year Ended 2/29/24* Additional authorized common shares 1,300,000 1,300,000 Common shares sold - - Offering proceeds, net of offering costs - - * Represents additional authorized shares for the period August 4, 2023 through February 29, 2024. NXC Six Months Ended 8/31/24 Year Ended 2/29/24 Common Shares: Issued to shareholders due to reinvestment of distributions — 468 Total — 468

31 Each Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. A Fund's federal income tax returns are generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed each Fund's tax positions taken for all open tax years and has concluded that no provision for income tax is required in the Fund's financial statements. As of the end of the reporting period, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax purposes were as follows: For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on derivatives and any amounts unrealized for income statement reporting but realized income and/or capital gains for tax reporting, if applicable. As of prior fiscal period end, the components of accumulated earnings on a tax basis were as follows: As of prior fiscal period end, the Funds had capital loss carryforwards, which will not expire: 8. Management Fees and Other Transactions with Affiliates Management Fees: Each Fund’s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser. Each Fund’s management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser. The annual fund-level fee, payable monthly, for each fund is calculated according to the following schedule: Fund Tax Cost Gross Unrealized Appreciation Gross Unrealized (Depreciation) Net Unrealized Appreciation (Depreciation) NXC $ 84,415,197 $ 3,795,967 $ (1,787,253) $ 2,008,714 NXN 48,730,174 1,131,124 (425,346) 705,778 Fund Undistributed Tax-Exempt Income 1 Undistributed Ordinary Income Undistributed Long-Term Capital Gains Unrealized Appreciation (Depreciation) Capital Loss Carryforwards Late-Year Loss Deferrals Other Book-to-Tax Differences Total NXC $ 400,036 $ — $ — $ 2,369,132 $ (2,124,541) $ — $ (289,484) $ 355,143 NXN 188,563 — — 674,883 (4,540,973) — (160,921) (3,838,448) 1 Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividend declared on February 1, 2024 and paid on March 1, 2024. Fund Short-Term Long-Term Total NXC $ 462,152 $ 1,662,389 $ 2,124,541 NXN 2,632,255 1,908,718 4,540,973 Average Daily Net Assets* Fund-Level Fee Rate For the first $125 million 0.1000 % For the next $125 million 0.0875 For the next $250 million 0.0750 For the next $500 million 0.0625 For the next $1 billion 0.0500 For the next $3 billion 0.0250 For managed assets over $5 billion 0.0125

32 Notes to Financial Statements (Unaudited) (continued) For the period March 1, 2024 through April 30, 2024 annual complex-level fee, payable monthly, for each Fund is calculated by multiplying the current complex-wide fee rate, determined according to the following schedule by the Fund’s daily managed assets: * 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, but do not include certain assets of certain Nuveen funds that were reorganized into funds advised by an affiliate of the Adviser during the 2019 calendar year. Effective May 1, 2024 the annual complex-level fee, payable monthly, for each Fund is calculated according to the following schedule: * The complex-level fee is calculated based upon the aggregate daily “eligible assets” of all Nuveen-branded closed-end funds and Nuveen branded open-end funds (“Nuveen Mutual Funds”). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do not include the net assets of: Nuveen fund-of-funds, Nuveen money market funds, Nuveen index funds, Nuveen Large Cap Responsible Equity Fund or Nuveen Life Large Cap Responsible Equity Fund. In addition, eligible assets include a fixed percentage of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by the Adviser’s affiliate, Teachers Advisors, LLC (except those identified above). The fixed percentage will increase annually until May 1, 2033, at which time eligible assets will include all of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by Teachers Advisors, LLC (except those identified above). Eligible assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end 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 eligible assets in certain circumstances. As of August 31, 2024, the annual complex-level fee for each Fund was as follows: Other Transactions with Affiliates: Each Fund is permitted to purchase or sell securities from or to certain other funds or accounts managed by the Sub-Adviser or by an affiliate of the Adviser (each an , “Affiliated Entity”) under specified conditions outlined in procedures adopted by the Board ("cross-trade"). These procedures have been designed to ensure that any cross-trade of securities by the Fund from or to an Affiliated Entity by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7 under the 1940 Act. These transactions are effected at the current market price (as provided by an independent pricing service) without incurring broker commissions. During the current fiscal period, the Funds did not engage in cross-trades pursuant to these procedures. 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 Complex-Level Asset Breakpoint Level Complex-Level Fee For the first $124.3 billion 0.1600 % For the next $75.7 billion 0.1350 For the next $200 billion 0.1325 For eligible assets over $400 billion 0.1300 Fund Complex-Level Fee NXC 0.1570% NXN 0.1570%

33 9. Borrowing Arrangements Committed Line of Credit: The Funds, along with certain other funds managed by the Adviser (“Participating Funds”), have established a 364-day, $2.700 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for temporary purposes (other than on- going leveraging for investment purposes). Each Participating Fund is allocated a designated proportion of the facility’s capacity (and its associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the Fund, relative to those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other Participating Funds have undrawn capacity. The credit facility expires in June 2025 unless extended or renewed. The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts borrowed. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of “Interest expense and amortization of offering costs” on the Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of “Interest expense and amortization of offering costs” on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility’s aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund. During the current fiscal period, the following Funds utilized this facility. The Fund’s maximum outstanding balance during the utilization period was as follows: During the Fund’s utilization period during the current fiscal period, the average daily balance outstanding and average annual interest rate on the Borrowings were as follows: Borrowings outstanding as of the end of the reporting period, if any, are recognized as “Borrowings” on the Statement of Assets and Liabilities, where applicable. 10. Inter-Fund Borrowing and Lending Inter-Fund Borrowing and Lending: The SEC has granted an exemptive order permitting registered open-end and closed-end Nuveen funds to participate in an inter-fund lending facility whereby the Nuveen funds may directly lend to and borrow money from each other for temporary purposes (e.g., to satisfy redemption requests or when a sale of securities “fails,” resulting in an unanticipated cash shortfall) (the “Inter-Fund Program”). The closed-end Nuveen funds, including the Funds covered by this shareholder report, will participate only as lenders, and not as borrowers, in the Inter-Fund Program because such closed-end funds rarely, if ever, need to borrow cash to meet redemptions. The Inter-Fund Program is subject to a number of conditions, including, among other things, the requirements that (1) no fund may borrow or lend money through the Inter-Fund Program unless it receives a more favorable interest rate than is typically available from a bank or other financial institution for a comparable transaction; (2) no fund may borrow on an unsecured basis through the Inter-Fund Program unless the fund’s outstanding borrowings from all sources immediately after the inter-fund borrowing total 10% or less of its total assets; provided that if the borrowing fund has a secured borrowing outstanding from any other lender, including but not limited to another fund, the inter-fund loan must be secured on at least an equal priority basis with at least an equivalent percentage of collateral to loan value; (3) if a fund’s total outstanding borrowings immediately after an inter-fund borrowing would be greater than 10% of its total assets, the fund may borrow through the inter-fund loan on a secured basis only; (4) no fund may lend money if the loan would cause its aggregate outstanding loans through the Inter-Fund Program to exceed 15% of its net assets at the time of the loan; (5) a fund’s inter-fund loans to any one fund shall not exceed 5% of the lending fund’s net assets; (6) the duration of inter- fund loans will be limited to the time required to receive payment for securities sold, but in no event more than seven days; and (7) each inter-fund loan may be called on one business day’s notice by a lending fund and may be repaid on any day by a borrowing fund. In addition, a Nuveen fund may participate in the Inter-Fund Program only if and to the extent that such participation is consistent with the fund’s investment objective and investment policies. The Board is responsible for overseeing the Inter-Fund Program. Fund Maximum Outstanding Balance NXC $ 1,017,325 NXN — Fund Utilization Period (Days Outstanding) Average Daily Balance Outstanding Average Annual Interest Rate NXC 3 $ 1,017,325 6.53 % NXN — — —

34 Notes to Financial Statements (Unaudited) (continued) The limitations detailed above and the other conditions of the SEC exemptive order permitting the Inter-Fund Program are designed to minimize the risks associated with Inter-Fund Program for both the lending fund and the borrowing fund. However, no borrowing or lending activity is without risk. When a fund borrows money from another fund, there is a risk that the loan could be called on one day’s notice or not renewed, in which case the fund may have to borrow from a bank at a higher rate or take other actions to payoff such loan if an inter-fund loan is not available from another fund. Any delay in repayment to a lending fund could result in a lost investment opportunity or additional borrowing costs. During the current reporting period, none of the Funds covered by this shareholder report have entered into any inter-fund loan activity.

Shareholder Meeting Report (Unaudited) 35 The annual meeting of shareholders for NXC and NXN was held on August 8, 2024; at this meeting the shareholders were asked to elect Board Members. The vote totals for NXC and NXN are set forth below: NXC NXN Common Shares Common Shares Approval of the Board Members was reached as follows: Joanne T. Medero For 4,577,439 3,244,526 Withhold 290,251 63,796 Total 4,867,690 3,308,322 Albin F. Moschner For 4,582,537 3,256,597 Withhold 285,153 51,725 Total 4,867,690 3,308,322 Loren M. Starr For 4,601,904 3,264,055 Withhold 265,786 44,267 Total 4,867,690 3,308,322 Matthew Thornton III For 4,600,998 3,256,597 Withhold 266,692 51,725 Total 4,867,690 3,308,322

36 Additional Fund Information (Unaudited) Portfolio of Investments Information The Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its report on Form N-PORT. You may obtain this information on the SEC’s website at http://www.sec.gov. Nuveen Funds’ Proxy Voting Information You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by calling Nuveen toll-free at (800) 257-8787 or on Nuveen’s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen toll-free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov. CEO Certification Disclosure The Fund’s Chief Executive Officer (CEO) has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual. Each Fund has filed with the SEC the certification of its CEO and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act. Common Share Repurchases Each Fund intends to repurchase, through its open-market share repurchase program, shares of its own common stock at such times and in such amounts as is deemed advisable. During the period covered by this report, each Fund repurchased shares of its common stock as shown in the accompanying table. Any future repurchases will be reported to shareholders in the next annual or semi-annual report. FINRA BrokerCheck : The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline number at (800) 289-9999 or by visiting www.FINRA.org. Board of Trustees Joseph A. Boateng Michael A. Forrester Thomas J. Kenny Amy B.R. Lancellotta Joanne T. Medero Albin F. Moschner John K. Nelson Loren M. Starr Matthew Thornton III Terence J. Toth Margaret L. Wolff Robert L. Young Investment Adviser Nuveen Fund Advisors, LLC 333 West Wacker Drive Chicago, IL 60606 Custodian State Street Bank & Trust Company One Congress Street Suite 1 Boston, MA 02114-2016 Legal Counsel Chapman and Cutler LLP Chicago, IL 60603 Independent Registered Public Accounting Firm KPMG LLP 200 East Randolph Street Chicago, IL 60601 Transfer Agent and Shareholder Services Computershare Trust Company, N.A. 150 Royall Street Canton, MA 02021 (800) 257-8787 NXC NXN Common shares repurchased 0 0

Glossary of Terms Used in this Report (Unaudited) 37 Average Annual Total Return : This is a commonly used method to express an investment’s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment’s actual cumulative performance (including change in NAV or offer price and reinvested dividends and capital gains distributions, if any) over the time period being considered. Effective Leverage: Effective leverage is a fund’s effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects of certain derivative investments in the fund’s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Inverse Floating Rate Securities: Inverse floating rate securities are the residual interest in a tender option bond (TOB) trust, sometimes referred to as “inverse floaters”, are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond’s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an “inverse floater”) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates’ holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond’s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond’s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis. Net Asset Value (NAV) Per Share: A fund’s Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total liabilities. NAV per share is equal to the fund’s Net Assets divided by its number of shares outstanding. Pre-Refunded Bond/Pre-Refunding: Pre-Refunded Bond/Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond’s credit rating and thus its value. Tax Obligation/General Bonds: Bonds backed by the general revenues of an issuer, including taxes, where the issuer has the ability to increase taxes by an unlimited amount to pay the bonds back. Tax Obligation/Limited Bonds: Bonds backed by the general revenues of an issuer, including taxes, where the issuer doesn’t have the ability to increase taxes by an unlimited amount to pay the bonds back. Total Investment Exposure: Total investment exposure is a fund’s assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes a fund’s use of preferred stock and borrowings and 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.

38 Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) Nuveen California Select Tax-Free Income Portfolio Nuveen New York Select Tax-Free Income Portfolio The Approval Process At meetings held on April 18 and 19, 2024 (the “Meeting”), the Boards of Trustees (collectively, the “Board” and each Trustee, a “Board Member”) of the Funds approved, for their respective Fund, the renewal of the investment management agreement (each an “Investment Management Agreement”) with Nuveen Fund Advisors, LLC (“NFAL”; NFAL is an “Adviser”) pursuant to which NFAL serves as investment adviser to such Fund. Similarly, for each Fund, the Board approved the renewal of the sub-advisory agreement (each a “Sub-Advisory Agreement”) with Nuveen Asset Management, LLC (the “Sub-Adviser”) pursuant to which the Sub-Adviser serves as the sub-adviser to such Fund. The Board Members are not “interested persons” (as defined under the Investment Company Act of 1940 (the “1940 Act”)) and, therefore, the Board is deemed to be comprised of all disinterested Board Members. References to the Board and the Board Members are interchangeable. Below is a summary of the annual review process the Board undertook related to its most recent renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund. In accordance with applicable law, following up to an initial two-year period, the Board considers the renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub- Advisory Agreements are collectively referred to as the “Advisory Agreements,” and NFAL and the Sub-Adviser are collectively, the “Fund Advisers” and each a “Fund Adviser.” In addition, the fund complex consists of the group of funds advised by NFAL (collectively referred to as the “Nuveen funds”) and the group of funds advised by Teachers Advisors, LLC (“TAL” and such funds are collectively, the “TC funds”). For clarity, NFAL serves as Adviser to the Nuveen funds, including the Funds, and TAL serves as “Adviser” to the TC funds. The Board Members considered that the prior separate boards of the TC funds and Nuveen funds were consolidated effective in January 2024. Accordingly, at the Meeting, the Board Members considered the review of the advisory agreements for the Nuveen funds as well as reviewed the investment management agreements for the TC funds. Depending on the appropriate context, references to “the Adviser” may be to NFAL with respect to the Nuveen funds and/or TAL with respect to the TC funds. The Board Members considered the review of the advisory agreements of the Nuveen funds and the TC funds to be an ongoing process. The Board Members therefore employed the accumulated information, knowledge and experience they had gained during their tenure on the respective board of the TC funds or Nuveen funds (as the case may be) governing the applicable funds and working with the respective investment advisers and sub- advisers, as applicable, in their review of the advisory agreements for the fund complex. During the course of the year prior to the Meeting, the Board and/or its committees received a wide variety of materials that covered a range of topics relevant to the Board’s annual consideration of the renewal of the advisory agreements, including reports on fund investment results over various periods; product initiatives for various funds; fund expenses; compliance, regulatory and risk management matters; trading practices, including soft dollar arrangements (as applicable); the liquidity and derivatives risk management programs; management of distributions; valuation of securities; payments to financial intermediaries (as applicable); securities lending (as applicable); overall market and regulatory developments; and with respect to closed-end funds, capital management initiatives, institutional ownership, management of leverage financing and the secondary market trading of the closed-end funds and any actions to address discounts. The Board also met periodically with and/or received presentations by key investment professionals managing a fund’s portfolio. In particular, at the Board meeting held on February 27-29, 2024 (the “February Meeting”), the Board and/or its Investment Committee received the annual performance review of the funds as described in further detail below. The presentations, discussions and meetings throughout the year also provide a means for the Board to evaluate and consider the level, breadth and quality of services provided by the Adviser and sub-advisers, as applicable, and how such services have changed over time in light of new or modified regulatory requirements, changes to market conditions or other factors. In connection with its annual consideration of the advisory agreements, the Board, through its independent legal counsel, requested and received extensive materials and information prepared specifically for its review of the advisory agreements. The materials provided at the Meeting and/or prior meetings covered a wide range of matters including, but not limited to, a description of the nature, extent and quality of services provided by the Fund Advisers; the consolidation of the Nuveen fund family and TC fund family; a review of product actions advanced in 2023 for the benefit of particular funds and/or the fund complex; a review of each sub-adviser, if applicable, and/or applicable investment team; an analysis of fund performance with a focus on funds considered to have met certain challenged performance measurements; an analysis of the fees and expense ratios of the funds with a focus on funds considered to have certain expense characteristics; a list of management fee and, if applicable, sub-advisory fee schedules; a description of portfolio manager compensation; an overview of the primary and secondary markets for the Nuveen closed-end funds (including, among other things, premium or discount data and commentary regarding the leverage management, share repurchase and shelf offering programs during 2023); a description of the profitability and/or financial data of Nuveen, TAL and the sub-advisers; and a description of indirect benefits received by the Adviser and the sub-advisers as a result of their relationships with the funds, as applicable. The Board also considered information provided by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data, comparing fee and expense levels of each respective fund to those of a peer universe. The information prepared specifically for the annual review supplemented the information provided to the Board and its committees and the evaluations of the funds by the Board and its committees during the year. The Board’s review of the advisory agreements for the fund complex is based on all the information provided to the Board and its committees over time. The performance, fee and expense data and other information provided by a Fund Adviser, Broadridge or other service providers were not independently verified by the Board Members.

39 As part of their review, the Board Members and independent legal counsel met by videoconference in executive session on April 10, 2024 (the “April Executive Session”) to review and discuss materials provided in connection with their annual review of the advisory agreements for the fund complex. After reviewing this information, the Board Members requested, directly or through independent legal counsel, additional information, and the Board subsequently reviewed and discussed the responses to these follow-up questions and requests. The Board Members were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel at which no representatives of management were present. In connection with their annual review, the Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements, including guidance from court cases evaluating advisory fees. The Board’s decisions to renew each Advisory Agreement were not based on a single identified factor, but rather each decision reflected the comprehensive consideration of all the information provided to the Board and its committees throughout the year as well as the materials prepared specifically in connection with the annual review process. The contractual arrangements may reflect the results of prior year(s) of review, negotiation and information provided in connection with the Board’s annual review of the funds’ advisory arrangements and oversight of the funds. Each Board Member may have attributed different levels of importance to the various factors and information considered in connection with the annual review process and may have placed different emphasis on the relevant information year to year in light of, among other things, changing market and economic conditions. A summary of the principal factors and information, but not all the factors, the Board considered in deciding to renew the Advisory Agreements is set forth below. A. Nature, Extent and Quality of Services In evaluating the renewal of the Advisory Agreements, the Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser’s services provided to each respective Fund with particular focus on the services and enhancements or changes to such services provided during the last year. The Board Members considered the Investment Management Agreements and the Sub-Advisory Agreements separately in the course of their review. With this approach, they considered the roles of NFAL and the Sub-Adviser in providing services to the Funds. The Board considered that the Adviser provides a wide array of management, oversight and other services to manage and operate the applicable funds. The Board considered the Adviser’s and its affiliates’ dedication of resources, time, people and capital as well as continual program of improvement and innovation aimed at enhancing the funds and fund complex for investors and meeting the needs of an increasingly complex regulatory environment. In particular, over the past several years, the Board considered the significant resources, both financial and personnel, the Adviser and its affiliates have committed in working to consolidate the Nuveen fund family and TC fund family under one centralized umbrella. The Board considered that the organizational changes in bringing together Nuveen, its affiliates and TIAA’s (as defined below) asset management businesses, consolidating the Nuveen and TC fund families and other initiatives were anticipated to provide various benefits for the funds through, among other things, enhanced operating efficiencies, centralized investment leadership and a centralized shared resources and support model. As part of these efforts, the boards of the TC funds and Nuveen funds were consolidated effective in January 2024. In addition, in conjunction with these consolidation efforts, the Board approved at the Meeting changes to fee and breakpoint structures (as applicable) that could provide cost savings to participating funds, as described in further detail below. The Board also reviewed information regarding other product actions undertaken or continued by management in the 2023 calendar year in seeking to improve the effectiveness of the organization, the product line-up as well as particular funds through, among other things, continuing to review and optimize the product line and gaining efficiencies through mergers and liquidations; reviewing and updating investment policies and benchmarks; implementing fee waivers and/or expense cap changes for certain funds; evaluating and adjusting portfolio management teams as appropriate for various funds; and developing policy positions on a broad range of regulatory proposals that may impact the funds and communicating with lawmakers and other regulatory authorities to help ensure these positions are considered. In its review, the Board considered that the funds operated in a highly regulated industry and the scope and complexity of the services and resources that the Adviser and its affiliates must provide to manage and operate the applicable funds have expanded over the years as a result of, among other things, regulatory, market and other developments, such as the adoption of the tailored shareholder report or the revised fund name rule. In considering the breadth and quality of services the Adviser and its various teams provide, the Board considered that the Adviser provides investment advisory services. With respect to the Nuveen funds, such funds utilize sub-advisers to manage the portfolios of the funds subject to the supervision of NFAL. Accordingly, the Board considered that NFAL and its affiliates, among other things, oversee and review the performance of the respective sub-adviser and its investment team(s); evaluate Nuveen fund performance and market conditions; evaluate investment strategies and recommend changes thereto; set and manage distributions consistent with the respective Nuveen fund’s product design; oversee trade execution and, as applicable, securities lending; evaluate investment risks; and manage valuation matters. With respect to closed-end Nuveen funds, such services also include managing leverage; monitoring asset coverage levels for leveraged funds and compliance with rating agency criteria; providing capital management and secondary market services (such as implementing common share shelf offerings, capital return programs and common share repurchases); and maintaining a closed-end fund investor relations program. The Board considered that, with respect to such funds, management actively monitors any discount from net asset value per share at which the respective Nuveen fund’s common stock trades and evaluates potential avenues to mitigate the discount, including evaluating the level of distributions that the fund pays. The Board further considered that over the course of the 2023 calendar year, the Nuveen global public product team which supports the funds in the fund complex and their shareholders assessed the investment personnel across the investment leadership teams which resulted in additions or other modifications to the portfolio management teams of various funds. The Board also reviewed a description of the compensation structure applicable to certain portfolio managers.

40 Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) (continued) In addition to the above investment advisory services, the Board further considered the extensive compliance, regulatory, administrative and other services the Adviser and its various teams or affiliates provide to manage and operate the applicable funds. Given the highly regulated industry in which the funds operate, the Board considered the breadth of the Adviser’s compliance program and related policies and procedures. The Board reviewed various initiatives the Adviser’s compliance team undertook or continued in 2023, in part, to address new regulatory requirements, support international business growth and product development, enhance international trading capabilities, enhance monitoring capabilities in light of the new regulatory requirements and guidance and maintain a comprehensive training program. The Board further considered, among other things, that other non-advisory services provided included, among other things, board support and reporting; establishing and reviewing the services provided by other fund service providers (such as a fund’s custodian, accountant, and transfer agent); risk management, including reviews of the liquidity risk management and derivatives risk management programs; legal support services; regulatory advocacy; and cybersecurity, business continuity and disaster recovery planning and testing. Aside from the services provided, the Board considered the financial resources of the Adviser and/or its affiliates and their willingness to make investments in the technology, personnel and infrastructure to support the funds, including to enhance global talent, middle office systems, software and international and internal capabilities. The Board considered the access provided by the Adviser and its affiliates to a seed capital budget to support new or existing funds and/or facilitate changes for a respective fund. The Board considered the benefits to shareholders of investing in a fund that is a part of a large fund complex with a variety of investment disciplines, capabilities, expertise and resources available to navigate and support the funds including during stressed times. The Board considered the overall reputation and capabilities of the Adviser and its affiliates and the Adviser’s continuing commitment to provide high quality services. In its review, the Board also considered the significant risks borne by the Adviser and its affiliates in connection with their services to the applicable funds, including entrepreneurial risks in sponsoring and supporting new funds and smaller funds and ongoing risks with managing the funds, such as investment, operational, reputational, regulatory, compliance and litigation risks. With respect to the Funds, the Board considered the division of responsibilities between NFAL and the Sub-Adviser and considered that the Sub- Adviser and its investment personnel generally are responsible for the management of each Fund’s portfolio under the oversight of NFAL and the Board. The Board considered an analysis of the Sub-Adviser provided by NFAL which included, among other things, a summary of changes in the leadership teams and/or portfolio manager teams; the performance of the Nuveen funds sub-advised by the Sub-Adviser over various periods of time; and data reflecting product changes (if any) taken with respect to certain Nuveen funds. The Board considered that NFAL recommended the renewal of the Sub-Advisory Agreements. Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement. B. The Investment Performance of the Funds and Fund Advisers In evaluating the quality of the services provided by the Fund Advisers, the Board also considered a variety of investment performance data of the Funds. In this regard, the Board and/or its Investment Committee reviewed, among other things, performance of the Funds over the quarter, one-, three- and five-year periods ending December 31, 2023 and March 31, 2024. The Board performed its annual review of fund performance at its February Meeting and an additional review at the April Executive Session and also reviewed and discussed performance data at its other regularly scheduled quarterly meetings throughout the year. The Board therefore took into account the performance data, presentations and discussions (written and oral) that were provided at the Meeting and in prior meetings over time in evaluating fund performance, including management’s analysis of a fund’s performance with particular focus on funds that met certain challenged performance measurements as determined pursuant to a methodology approved by the Board or additional measurements as determined by management’s investment analysts. As various Nuveen funds have modified their portfolio teams and/or made significant changes to their portfolio strategies over time, the Board reviewed, among other things, certain tracking performance data over specific periods comparing performance before and after such changes. The Board considered that performance data reflects performance over a specified period which may differ significantly depending on the ending dates selected, particularly during periods of market volatility. Further, the Board considered that shareholders may evaluate performance based on their own respective holding periods which may differ from the performance periods reviewed by the Board and lead to differing results. In its evaluation, the Board reviewed fund performance results from different perspectives. In general, subject to certain exceptions, the Board reviewed both absolute and relative fund performance over the various time periods and considered performance results in light of a fund’s investment objective(s), strategies and risks. With respect to the relative performance, the Board considered fund performance in comparison to the performance of peer funds (the “Performance Peer Group”), subject to certain exceptions, and recognized and/or customized benchmarks (i.e., generally benchmarks derived from multiple recognized benchmarks). In reviewing such comparative performance, the Board was cognizant of the inherent limitations of such data which can make meaningful performance comparisons generally difficult. As an illustration, differences in the composition of the Performance Peer Group, the investment objective(s), strategies, dates of fund inception and other characteristics of the peers in the Performance Peer Group, the level, type and cost of leverage (if any) of the peers, and the varying sizes of peers all may contribute to differences in the performance results of a Performance Peer Group compared to the applicable fund. With respect to relative performance of a fund compared to a benchmark index, differences, among other things, in the investment objective(s) and strategies of a fund and the benchmark (particularly an actively managed fund that does not directly follow an index) as well as the costs of operating a fund would necessarily contribute to differences in performance results and limit the value of the comparative performance information. To assist the Board in its review of the comparability of the relative performance, management generally has ranked the relevancy of the Performance Peer Groups to the Funds as low, medium or high. In its review of relative performance, the Board considered a Fund’s performance relative to its Performance Peer Group, among other things, by evaluating its quartile ranking with the 1st quartile representing the top performing funds within the Performance Peer Group and the 4th quartile representing the lowest performing funds.

41 The Board also considered that secondary market trading of shares of the Nuveen closed-end funds also continues to be a priority for the Board given its importance to shareholders, and therefore, the Board and/or its Closed-end Fund committee reviews certain performance data reflecting, among other things, the premiums and discounts at which the shares of the Nuveen closed-end funds have traded at various periods throughout the year. In its review, the Board considers, among other things, changes to investment mandates and guidelines, distribution policies, leverage levels and types; share repurchases and similar capital market actions; and effective communications programs to build greater awareness and deepen understanding of closed-end funds. As applicable, the Board considered the impact of leverage on a Nuveen fund’s performance. The Board further considered that performance results should include the distribution yields of funds that seek to provide income as part of their investment objective(s) to shareholders. In this regard, the Board considered that the use of leverage by various funds may have detracted from total return performance of such funds over various periods in current market conditions, but the leverage also was accretive in providing higher levels of income. The Board evaluated performance in light of various relevant factors which may include, among other things, general market conditions, issuer- specific information, asset class information, leverage and fund cash flows. The Board considered that long-term performance could be impacted by even one period of significant outperformance or underperformance and that a single investment theme could disproportionately affect performance. Further, the Board considered that market and economic conditions may significantly impact a fund’s performance, particularly over shorter periods, and such performance may be more reflective of such economic or market events and not necessarily reflective of management skill. Although the Board reviews short-, intermediate- and longer-term performance data, the Board considered that longer periods of performance may reflect full market cycles. In their review from year to year, the Board Members consider and may place different emphasis on the relevant information in light of changing circumstances in market and economic conditions. In evaluating performance, the Board focused particular attention on funds with less favorable performance records. However, depending on the facts and circumstances, including any differences between the respective fund and its benchmark and/or Performance Peer Group, the Board may be satisfied with a fund’s performance notwithstanding that its performance may be below that of its benchmark and/or peer group for certain periods. With respect to any funds for which the Board has identified performance issues, the Board seeks to monitor such funds more closely until performance improves, discuss with the Adviser the reasons for such results, consider whether any steps are necessary or appropriate to address such issues, discuss and evaluate the potential consequences of such steps and review the results of any steps undertaken. The performance determinations with respect to each Fund are summarized below. For Nuveen California Select Tax-Free Income Portfolio, the Board considered that although the Fund’s performance was below the performance of its benchmark for the three-year period ended December 31, 2023 and the Fund ranked in the fourth quartile of its Performance Peer Group for the one-year period ended December 31, 2023, the Fund outperformed its benchmark for the one- and five- year periods ended December 31, 2023 and ranked in the first quartile of its Performance Peer Group for the three- and five-year periods ended December 31, 2023. In addition, although the Fund’s performance was below the performance of its benchmark for the three-year period ended March 31, 2024, the Fund outperformed its benchmark for the one- and five-year periods ended March 31, 2024 and ranked in the second quartile of its Performance Peer Group for the one-year period and first quartile for the three- and five-year periods ended March 31, 2024. In its review, the Board considered that the Performance Peer Group was classified as low for relevancy. On the basis of the Board’s ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund’s investment objective(s) and management’s discussion of performance, the Board concluded that the Fund’s performance supported renewal of the Advisory Agreements. For Nuveen New York Select Tax-Free Income Portfolio, the Board considered that although the Fund’s performance was below the performance of its benchmark for the three- and five-year periods ended December 31, 2023 and the Fund ranked in the fourth quartile of its Performance Peer Group for the one-year period ended December 31, 2023, the Fund outperformed its benchmark for the one-year period ended December 31, 2023 and ranked in the first quartile of its Performance Peer Group for the three- and five-year periods ended December 31, 2023. In addition, although the Fund’s performance was below the performance of its benchmark for the three- and five- year periods ended March 31, 2024, the Fund outperformed its benchmark for the one-year period ended March 31, 2024 and ranked in the first quartile of its Performance Peer Group for the one-, three- and five-year periods ended March 31, 2024. In its review, the Board considered that the Performance Peer Group was classified as low for relevancy. On the basis of the Board’s ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund’s investment objective(s) and management’s discussion of performance, the Board concluded that the Fund’s performance supported renewal of the Advisory Agreements.

42 Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) (continued) C. Fees, Expenses and Profitability 1. Fees and Expenses As part of its annual review, the Board generally reviewed, among other things, with respect to the Nuveen closed-end funds, the contractual management fee and the actual management fee (i.e., the management fee after taking into consideration fee waivers and/or expense reimbursements, if any) paid by a Fund to the Adviser in light of the nature, extent and quality of the services provided. The Board also reviewed information about other expenses and the total operating expense ratio of each Fund (after any fee waivers and/or expense reimbursements). More specifically, the Board Members reviewed, among other things, each Fund’s management fee rates and net total expense ratio in relation to similar data for a comparable universe of funds (the “Expense Universe”) established by Broadridge. The Board Members reviewed the methodology Broadridge employed to establish its Expense Universe and considered that differences between the applicable fund and its respective Expense Universe as well as changes to the composition of the Expense Universe from year to year, may limit some of the value of the comparative data. The Board Members also considered that it can be difficult to compare management fees among funds as there are variations in the services that are included for the fees paid. The Board Members took these limitations and differences into account when reviewing comparative peer data. The Board Members also considered a Fund’s operating expense ratio as it more directly reflected a shareholder’s total costs in investing in the respective fund. In their review, the Board Members considered, in particular, each fund with a net total expense ratio (based on common assets and excluding investment-related costs such as the costs of leverage and taxes for closed-end funds) meeting certain expense or fee criteria when compared to its Expense Universe and an analysis as to the factors contributing to each such fund’s relative net total expense ratio. In addition, although the Board reviewed a fund’s net total expense ratio both including and excluding investment- related expenses (e.g., leverage costs) for certain of the closed-end funds, the Board considered that leverage expenses will vary across funds and peers because of differences in the forms and terms of leverage employed by the respective fund. Accordingly, in reviewing the comparative data between a fund and its peers, the Board generally considered the fund’s net total expense ratio and fees excluding investment-related costs and taxes for the closed-end funds. The Board also considered that the use of leverage for closed-end funds may create a conflict of interest for NFAL and the applicable sub-adviser given the increase of assets from leverage upon which an advisory or sub-advisory fee is based. The Board Members considered, however, that NFAL and the sub-advisers (as applicable) would seek to manage the potential conflict by recommending to the Board to leverage the applicable fund or increase such leverage when NFAL and/or a sub- adviser, as applicable, has determined that such action would be in the best interests of the respective fund and its common shareholders and by periodically reviewing with the Board the fund’s performance and the impact of the use of leverage on that performance. The Board Members also considered, in relevant part, a Fund’s management fee and net total expense ratio in light of the Fund’s performance history, including reviewing certain funds identified by management and/or the Board as having a higher net total expense ratio or management fee compared to their respective peers coupled with experiencing periods of challenged performance and considering the reasons for such comparative positions. In their evaluation of the fee arrangements for the Funds, the Board Members also reviewed the management fee schedules and the expense reimbursements and/or fee waivers agreed to by the Adviser for the respective fund (if any). In its review, the Board considered that the management fees of the Nuveen funds were generally comprised of two components, a fund-level component and a complex-level component, each with its own breakpoint schedule, subject to certain exceptions. As indicated above, the Board approved a revised fee schedule which would reduce and streamline the asset thresholds necessary to meet breakpoints in the complex-level fee component. The Board considered that management anticipated approximately $50 million in savings for Nuveen fund shareholders as a result of the revised fee schedule as well as additional estimated savings over time. The Board further considered management’s representation that there will be no increase to any Nuveen fund’s respective advisory agreement fee rate as a result of the revised complex-level fee schedule. In its review, the Board considered that across the Nuveen fund and TC fund complex, management estimated that fund-level breakpoints resulted in approximately $82.5 million in reduced fees overall in 2023. In addition, the Board considered that management determined that the Nuveen funds achieved additional fee reductions of approximately $49 million due to the complex-wide management fee structure in 2023. With respect to the Sub-Adviser, the Board also considered, among other things, the sub-advisory fee schedule paid to the Sub-Adviser in light of the sub-advisory services provided to the respective Fund. In its review, the Board considered that the compensation paid to the Sub-Adviser is the responsibility of NFAL, not the Funds. The Board’s considerations regarding the comparative fee data for each of the Funds are set forth below. For Nuveen California Select Tax-Free Income Portfolio, the Fund’s contractual management fee rate, actual management fee rate and net total expense ratio were below the Expense Universe median. For Nuveen New York Select Tax-Free Income Portfolio, the Fund’s contractual management fee rate, actual management fee rate and net total expense ratio were below the Expense Universe median. Based on its review of the information provided, the Board determined that each Fund’s management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

43 2. Comparisons with the Fees of Other Clients In evaluating the appropriateness of fees, the Board also considered that the Adviser, affiliated sub-advisers and/or their affiliate(s) provide investment management services to other types of clients which may include: separately managed accounts, retail managed accounts, foreign funds (UCITS), other investment companies (as sub-advisers), limited partnerships and collective investment trusts. The Board reviewed the equal weighted average fee or other fee data for the other types of clients managed in a similar manner to certain of the Nuveen funds and TC funds. The Board considered the Adviser’s rationale for the differences in the management fee rates of the funds compared to the management fee rates charged to these other types of clients. In this regard, the Board considered that differences, including but not limited to, the amount, type and level of services provided by the Adviser to the funds compared to that provided to other clients as well as differences in investment policies; regulatory, disclosure and governance requirements; servicing relationships with vendors; the manner of managing such assets; product structure; investor profiles; and account sizes all may contribute to variations in relative fee rates. Further, differences in the client base, governing bodies, distribution, jurisdiction and operational complexities also would contribute to variations in management fees assessed the funds compared to foreign fund clients. In addition, differences in the level of advisory services required for passively managed funds also contribute to differences in the management fee levels of such funds compared to actively managed funds. As a general matter, higher fee levels reflect higher levels of service provided by the Adviser, increased investment management complexity, greater product management requirements, and higher levels of business risk or some combination of these factors. The Board considered the wide range of services in addition to investment management that the Adviser had provided to the funds compared to other types of clients as well as the increased entrepreneurial, legal and regulatory risks that the Adviser incurs in sponsoring and managing the funds. The Board further considered that a sub-adviser’s fee is essentially for portfolio management services and therefore more comparable to the fees it receives for retail wrap accounts and other external sub-advisory mandates. The Board concluded that the varying levels of fees were reasonable given, among other things, the more extensive services, regulatory requirements and legal liabilities, and the entrepreneurial, legal and regulatory risks incurred in sponsoring and advising a registered investment company compared to that required in advising other types of clients. 3. Profitability of Fund Advisers In their review, the Board Members considered various profitability data relating to the Fund Advisers’ services to the Nuveen funds. With respect to the Nuveen funds, the Board Members reviewed the estimated profitability information of Nuveen as a result of its advisory services to the Nuveen funds overall as well as profitability data of certain other asset management firms. Such profitability information included, among other things, gross and net revenue margins (excluding distribution) of Nuveen Investments, Inc. (“Nuveen Investments”) for services to the Nuveen funds on a pre-tax and after-tax basis for the 2023 and 2022 calendar years as well as the revenues earned (less any expense reimbursements/fee waivers) and expenses incurred by Nuveen Investments for its advisory activities to the Nuveen funds (excluding distribution) for the 2023 and 2022 calendar years. The Board Members also considered the rationale for the change in Nuveen’s profitability from 2022 to 2023. In addition, the Board reviewed the revenues, expenses and operating margin (pre- and after-tax) NFAL derived from its exchange-traded fund product line for the 2023 and 2022 calendar years. In developing the profitability data, the Board Members considered the subjective nature of calculating profitability as the information is not audited and is necessarily dependent on cost allocation methodologies to allocate expenses throughout the complex and among the various advisory products. Given there is no single universally recognized expense allocation methodology and that other reasonable and valid allocation methodologies could be employed and could lead to significantly different results, the Board reviewed, among other things, a description of the cost allocation methodologies employed to develop the financial information, a summary of the refinements Nuveen had made to the methodology that had occurred over the years from 2010 through 2021 to provide Nuveen’s profitability analysis, and a historical expense analysis of Nuveen Investments’ revenues, expenses and pre-tax net revenue margins derived from its advisory services to the Nuveen funds (excluding distribution) for the calendar years from 2017 through 2023. The Board of the Nuveen funds had also appointed two Board Members to serve as the Board’s liaisons to meet with representatives of NFAL and review the development of the profitability data and to report to the full Board. In addition, the Board considered certain comparative operating margin data. In this regard, the Board reviewed the operating margins of Nuveen Investments compared to the adjusted operating margins of a peer group of asset management firms with publicly available data and the most comparable assets under management (based on asset size and asset composition) to Nuveen. The Board considered that the operating margins of the peers were adjusted generally to address that certain services provided by the peers were not provided by Nuveen. The Board also reviewed, among other things, the net revenue margins (pre-tax) of Nuveen Investments on a company-wide basis and the net revenue margins (pre-tax) of Nuveen Investments derived from its services to the Nuveen funds only (including and excluding distribution) compared to the adjusted operating margins of the peer group for each calendar year from 2014 to 2023. In their review of the comparative data, the Board Members considered the limitations of the comparative data given that peer data is not generally public and the calculation of profitability is subjective and affected by numerous factors (such as types of funds a peer manages, its business mix, its cost of capital, the numerous assumptions underlying the methodology used to allocate expenses and other factors) that can have a significant impact on the results.

44 Statement Regarding Basis for Approval of Investment Advisory Contract (Unaudited) (continued) Aside from the profitability data, the Board considered that NFAL and TAL are affiliates of Teachers Insurance and Annuity Association of America (“TIAA”). NFAL is a subsidiary of Nuveen, LLC, the investment management arm of TIAA, and TAL is an indirect wholly owned subsidiary of TIAA. Accordingly, the Board also reviewed a balance sheet for TIAA reflecting its assets, liabilities and capital and contingency reserves for the 2023 and 2022 calendar years to consider the financial strength of TIAA. The Board considered the benefit of an investment adviser and its parent with significant resources, particularly during periods of market volatility. The Board also considered the reinvestments the Adviser, its parent and/or other affiliates made into their business through, among other things, the investment of seed capital in certain funds, initiatives in international expansion, investments in infrastructure and continued investments in enhancements to technological capabilities. The Board Members considered the profitability of the Sub-Adviser from its relationships with the respective Nuveen funds. In this regard, the Board Members reviewed, among other things, the Sub-Adviser’s revenues, expenses and net revenue margins (pre- and after-tax) for its advisory activities to the respective Nuveen funds for the calendar years ended December 31, 2023 and December 31, 2022. The Board Members also reviewed a profitability analysis reflecting the revenues, expenses and revenue margin (pre- and after-tax) grouped by similar types of funds (such as municipal, taxable fixed income, equity, real assets and index/asset allocation) for the Sub-Adviser for the calendar years ending December 31, 2023 and December 31, 2022. In evaluating the reasonableness of the compensation, the Board Members also considered the indirect benefits NFAL or the Sub-Adviser received that were directly attributable to the management of the applicable funds as discussed in further detail below. Based on its review, the Board was satisfied that each Fund Adviser’s level of profitability from its relationship with each Nuveen fund was not unreasonable over various time frames in light of the nature, extent and quality of services provided. D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale The Board considered whether there have been economies of scale with respect to the management of the funds in the fund complex, including the Funds, whether these economies of scale have been appropriately shared with such funds and whether there is potential for realization of further economies of scale. Although the Board considered that economies of scale are difficult to measure with any precision and the rates at which certain expenses are incurred may not decline with a rise in assets, the Board considered that there are various methods that may be employed to help share the benefits of economies of scale, including, among other things, through the use of breakpoints in the management fee schedule, fee waivers and/or expense limitations, the pricing of funds at scale at inception and investments in the Adviser’s business which can enhance the services provided to the applicable funds for the fees paid. The Board considered that the Adviser has generally employed one or more of these various methods among the applicable funds. In this regard, the Board considered, as noted above, that the management fee of NFAL generally was comprised of a fund-level component and a complex-level component each with its own breakpoint schedule, subject to certain exceptions. With this structure, the Board considered that the complex-level breakpoint schedule was designed to deliver the benefits of economies of scale to shareholders when the assets of eligible funds in the complex pass certain thresholds even if the assets of a particular fund are unchanged or have declined, and the fund-level breakpoint schedules were designed to share economies of scale with shareholders if the particular fund grows. The Board reviewed the fund-level and complex-level fee schedules. As summarized above, the Board approved a new complex-level breakpoint schedule which would simplify and reduce the complex-level fee rates at various thresholds and expanded the eligible funds whose assets would be included in calculating the complex-level fee, effective May 1, 2024. Among other things, the assets of certain TC funds advised by TAL would be phased into the calculation of the complex-wide assets in determining the complex-level fee over a ten-year period. The Board considered the cost savings and additional potential sharing of economies of scale as a result of the reduced complex-level breakpoint schedule and the additional assets from more eligible funds in calculating the assets of the complex for determining the complex-level fee component. The Board reviewed the projected shareholder savings derived from such modifications over a ten-year period from 2024 to 2033. The Board considered management’s representation that there will be no increase to any fund’s respective advisory agreement fee rate. The Board also considered that with respect to Nuveen closed-end funds, although closed-end funds may make additional share offerings from time to time, the closed-end funds have a more limited ability to increase their assets because the growth of their assets will occur primarily from the appreciation of their investment portfolios. The Board Members also considered the continued reinvestment in Nuveen/TIAA’s business to enhance its capabilities and services to the benefit of its various clients. The Board understood that many of these investments were not specific to individual funds, but rather incurred across a variety of products and services pursuant to which the family of funds as a whole may benefit. The Board further considered that the Adviser and its affiliates have provided certain additional services, including, but not limited to, services required by new regulations and regulatory interpretations, without raising advisory fees to the funds, and this was also a means of sharing economies of scale with the funds and their shareholders. The Board considered the Adviser’s and/or its affiliates’ ongoing efforts to streamline the product line-up, among other things, to create more scaled funds which may help improve both expense and trading economies. Based on its review, the Board was satisfied that the current fee arrangements together with the reinvestment in management’s business appropriately shared any economies of scale with shareholders. E. Indirect Benefits The Board Members received and considered information regarding various indirect benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the funds in the fund complex, including the Funds. These benefits included, among other things, economies of scale to the extent the Adviser or its affiliates share investment resources and/or personnel with other clients of the Adviser. The funds may also be

45 used as investment options for other products or businesses offered by the Adviser and/or its affiliates, such as variable products, fund of funds and 529 education savings plans, and affiliates of the Adviser may serve as sub-advisers to various funds in which case all advisory and sub-advisory fees generated by such funds stay within Nuveen. The Board considered that an affiliate of the Adviser received compensation in 2023 for serving as an underwriter on shelf offerings of existing Nuveen closed-end funds and reviewed the amounts paid for such services in 2023 and 2022. In addition, the Board Members considered that the Adviser and Sub-Adviser may utilize soft dollar brokerage arrangements attributable to the respective funds to obtain research and other services for any or all of their clients, although the Board Members also considered reimbursements of such costs by the Adviser and/or Sub-Adviser. The Adviser and its affiliates may also benefit from the advisory relationships with the funds in the fund complex to the extent this relationship results in potential investors viewing the TIAA group of companies as a leading retirement plan provider in the academic and nonprofit market and a single source for all their financial service needs. The Adviser and/or its affiliates may further benefit to the extent that they have pricing or other information regarding vendors the funds utilize in establishing arrangements with such vendors for other products. Based on its review, the Board concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable in light of the services provided. F. Other Considerations The Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members concluded that the terms of each Advisory Agreement were reasonable, that the respective Fund Adviser’s fees were reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed for an additional one-year period.

Nuveen Securities, LLC, member FINRA and SIPC 333 West Wacker Drive Chicago, IL 60606 www.nuveen.com ESA-A-0824P 3855793-INV-B-10/25 Nuveen: Serving Investors for Generations Since 1898, financial advisors and their clients have relied on Nuveen to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality solutions designed to be integral components of a well-diversified core portfolio. Focused on meeting investor needs. Nuveen is the investment manager of TIAA. We have grown into one of the world’s premier global asset managers, with specialist knowledge across all major asset classes and particular strength in solutions that provide income for investors and that draw on our expertise in alternatives and responsible investing. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources that a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create solutions which help them secure their financial future. Find out how we can help you. To learn more about how the products and services of Nuveen may be able to help you meet your financial goals, talk to your financial advisor, or call us at (800) 257-8787. Please read the information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen, 333 W. Wacker Dr., Chicago, IL 60606. Please read the prospectus carefully before you invest or send money. Learn more about Nuveen Funds at: www.nuveen.com/closed-end-funds NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE

ITEM 2. Code of Ethics.

Not applicable to this filing.

ITEM 3. Audit Committee Financial Expert.

Not applicable to this filing.

ITEM 4. Principal Accountant Fees and Services.

Not applicable to this filing.

ITEM 5. Audit Committee of Listed Registrants.

Not applicable to this filing.

ITEM 6. Investments.

(a) Schedule of Investments is included as part of the Portfolio of Investments filed under Item 1 of this Form N-CSR.

(b) Not applicable.

ITEM 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Not applicable to closed-end investment companies.

ITEM 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Not applicable to closed-end investment companies.

ITEM 9. Proxy Disclosures for Open-End Management Investment Companies.

Not applicable to closed-end investment companies.

ITEM 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Not applicable to closed-end investment companies.

ITEM 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

See Statement Regarding Basis for Approval of Investment Advisory Contract in Item 1.

ITEM 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to this filing.

ITEM 13. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable to this filing.

ITEM 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

ITEM 15. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board implemented after the registrant last provided disclosure in response to this Item.

ITEM 16. 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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

ITEM 18. Recovery of Erroneously Awarded Compensation.

(a) Not applicable.

(b) Not applicable.

ITEM 19. Exhibits.

(a)(1) Not applicable to this filing.

(a)(2) Not applicable to this filing.

(a)(3) Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(4) Not applicable.

(a)(5) Change in the registrant’s independent public accountant. Filed herewith.

(b) Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is 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.

Nuveen California Select Tax-Free Income Portfolio

Date: November 7, 2024
David J. Lamb
Chief Administrative Officer

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.

Date: November 7, 2024	By:	/s/ David J. Lamb
		David J. Lamb
		Chief Administrative Officer
		(principal executive officer)
Date: November 7, 2024	By:	/s/ E. Scott Wickerham
		E. Scott Wickerham
		Vice President and Controller
		(principal financial officer)