UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-06384
Nuveen Texas Quality Municipal Income Fund
(Exact name of registrant as specified in charter)
Nuveen Investments
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Gifford R. Zimmerman
Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)
Registrants telephone number, including area code: 312-917-7700
Date of fiscal year end: February 28
Date of reporting period: May 31, 2018
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (OMB) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
LONG-TERM INVESTMENTS – 155.7% (100.0% of Total Investments) | ||||||
MUNICIPAL BONDS – 155.7% (100.0% of Total Investments) | ||||||
Consumer Discretionary – 2.7% (1.7% of Total Investments) | ||||||
$ 4,060 | San Antonio Convention Center Hotel Finance Corporation, Texas, Contract Revenue Empowerment Zone Bonds, Series 2005A, 5.000%, 7/15/39 – AMBAC Insured (Alternative Minimum Tax) | 8/18 at 100.00 | A3 | $ 4,060,690 | ||
Education and Civic Organizations – 11.6% (7.4% of Total Investments) | ||||||
2,500 | Board of Regents of the University of Texas, Permanent University Fund Bonds, Refunding Series 2015A, 5.000%, 7/01/28 | 7/24 at 100.00 | AAA | 2,876,025 | ||
2,000 | Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series 2012B, 5.000%, 8/15/22 | No Opt. Call | AAA | 2,242,920 | ||
Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2013A: | ||||||
1,000 | 4.350%, 12/01/42 | 12/22 at 100.00 | BBB- | 1,011,790 | ||
1,000 | 4.400%, 12/01/47 | 12/22 at 100.00 | BBB- | 1,011,780 | ||
1,230 | Danbury Higher Education Authority, Texas, Charter School Revenue Bonds, John H. Wood Jr. Public Charter District, Inspire Academies, Series 2013A, 6.000%, 8/15/28 | 8/23 at 100.00 | BBB- | 1,359,507 | ||
1,000 | Hale Center Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist University Project, Improvement and Refunding Series 2010, 5.000%, 3/01/35 | 3/21 at 100.00 | A- | 1,063,350 | ||
1,000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Medical Facilities Revenue Bonds, Baylor College of Medicine, Refunding Series 2012A, 5.000%, 11/15/26 | 11/22 at 100.00 | A | 1,104,150 | ||
3,000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men's Christian Association of the Greater Houston Area, Series 2013A, 5.000%, 6/01/38 | 6/23 at 100.00 | Baa3 | 3,183,270 | ||
2,000 | Lone Star College System, Harris, Montgomery and San Jacinto Counties, Texas, Revenue Financing System Bonds, Series 2013, 5.000%, 2/15/36 | 2/21 at 100.00 | AA | 2,152,900 | ||
1,240 | Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, Refunding Series 2016, 5.000%, 5/01/27 – BAM Insured | 5/26 at 100.00 | AA | 1,426,595 | ||
15,970 | Total Education and Civic Organizations | 17,432,287 | ||||
Energy – 1.4% (0.9% of Total Investments) | ||||||
2,000 | Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax) | 10/22 at 100.00 | BB | 2,070,380 | ||
Health Care – 4.8% (3.1% of Total Investments) | ||||||
1,000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Healthcare System, Refunding Series 2013A, 5.000%, 12/01/35 | 12/22 at 100.00 | A+ | 1,098,900 |
NTX | Nuveen Texas Quality Municipal Income Fund (continued) |
Portfolio of Investments as of May 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Health Care (continued) | ||||||
$ 1,000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston Methodist Hospital System, Series 2015, 5.000%, 12/01/45 | 6/25 at 100.00 | AA | $1,114,620 | ||
1,350 | Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28 | 7/20 at 100.00 | A | 1,405,931 | ||
515 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Hendrick Medical Center, Refunding Series 2013, 5.125%, 9/01/33 | 9/23 at 100.00 | A | 563,765 | ||
1,250 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2016A, 5.000%, 11/15/32 | 5/26 at 100.00 | AA- | 1,433,200 | ||
1,590 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 – AGC Insured | 1/19 at 100.00 | AA | 1,631,594 | ||
6,705 | Total Health Care | 7,248,010 | ||||
Housing/Multifamily – 2.2% (1.4% of Total Investments) | ||||||
3,000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - College Station I LLC - Texas A&M University Project, Series 2014A, 5.000%, 4/01/46 – AGM Insured | 4/24 at 100.00 | AA | 3,254,880 | ||
Tax Obligation/General – 31.9% (20.5% of Total Investments) | ||||||
500 | Austin Community College District, Texas, General Obligation Bonds, Refunding Limited Tax Series 2016, 5.000%, 8/01/23 | No Opt. Call | AA+ | 570,525 | ||
1,620 | Cameron County, Texas, General Obligation Bonds, State Highway 550 Project, Series 2012, 5.000%, 2/15/32 – AGM Insured | 2/22 at 100.00 | AA | 1,765,119 | ||
1,500 | College Station, Texas, Certificates of Obligation, Series 2012, 5.000%, 2/15/32 | 2/21 at 100.00 | AA+ | 1,611,405 | ||
1,000 | El Paso County Hospital District, Texas, General Obligation Bonds, Refunding Series 2013, 5.000%, 8/15/33 | 8/23 at 100.00 | AA- | 1,084,010 | ||
1,565 | El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – AGM Insured | No Opt. Call | AA | 1,686,350 | ||
2,000 | Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2017A, 5.000%, 3/01/31 | 3/27 at 100.00 | AA | 2,344,080 | ||
3,255 | Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Refunding Series 2012A, 0.000%, 8/01/45 | 8/21 at 100.00 | A+ | 724,498 | ||
1,360 | Jacksonville Independent School District, Cherokee County, Texas, General Obligation Bonds, School Building Series 2014, 5.000%, 2/15/39 | 2/24 at 100.00 | Aaa | 1,515,734 | ||
Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General Obligation Bonds, School Building Series 2017: | ||||||
2,000 | 5.000%, 2/15/39 | 2/27 at 100.00 | AAA | 2,314,080 | ||
10,000 | 4.000%, 2/15/47 (UB) (4) | 2/27 at 100.00 | AAA | 10,463,400 | ||
2,675 | Laredo Community College District, Webb County, Texas, General Obligation Bonds, Series 2014, 5.000%, 8/01/34 | 8/24 at 100.00 | AA- | 2,996,027 | ||
1,350 | Lubbock Independent School District, Lubbock County, Texas, General Obligation Bonds, School Building Series 2013A, 5.000%, 2/15/43 | 2/23 at 100.00 | AAA | 1,493,599 | ||
1,750 | Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series 2011A, 7.250%, 4/01/36 | 4/21 at 100.00 | BBB | 1,895,005 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/General (continued) | ||||||
McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013: | ||||||
$ 1,000 | 5.750%, 12/01/33 | 12/25 at 100.00 | B1 | $1,058,540 | ||
1,000 | 6.125%, 12/01/38 | 12/25 at 100.00 | B1 | 1,067,000 | ||
1,425 | Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Series 2010E, 0.000%, 10/01/35 | No Opt. Call | AAA | 794,594 | ||
4,000 | Prosper Independent School District, Collin County, Texas, General Obligation Bonds, Refunding Series 2015, 5.000%, 2/15/40 | 2/25 at 100.00 | AAA | 4,544,320 | ||
205 | Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A, 5.125%, 2/01/39 | 2/24 at 100.00 | Ba2 | 213,612 | ||
2,000 | Texas State, General Obligation Bonds, Transportation Commission Highway Improvement Series 2012A, 5.000%, 4/01/42 | 4/22 at 100.00 | AAA | 2,187,360 | ||
2,000 | Texas State, General Obligation Bonds, Transportation Commission Highway Improvement, Series 2014, 5.000%, 4/01/44 | 4/24 at 100.00 | AAA | 2,241,760 | ||
2,000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2014, 5.000%, 10/01/34 | 4/24 at 100.00 | AAA | 2,254,380 | ||
West Texas Independent School District, McLennan and Hill Counties, General Obligation Refunding Bonds, Series 1998: | ||||||
45 | 0.000%, 8/15/22 | No Opt. Call | AAA | 35,873 | ||
45 | 0.000%, 8/15/24 | No Opt. Call | AAA | 32,164 | ||
9,000 | Wylie Independent School District, Collin County, Texas, General Obligation Bonds, Capital Appreciation Series 2015, 0.000%, 8/15/45 | 8/25 at 44.15 | Aaa | 3,006,990 | ||
53,295 | Total Tax Obligation/General | 47,900,425 | ||||
Tax Obligation/Limited – 24.8% (16.0% of Total Investments) | ||||||
2,000 | Austin Community College District Public Facility Corporation, Texas, Lease Revenue Bonds, Highland Campus - Building 3000 Project, Series 2018A, 5.000%, 8/01/42 | 8/27 at 100.00 | AA | 2,283,740 | ||
1,000 | Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2010, 5.250%, 8/15/38 – AGM Insured | 8/19 at 100.00 | AA | 1,039,920 | ||
Bexar County, Texas, Venue Project Revenue Bonds, Refunding Combined Venue Tax Series 2015: | ||||||
1,060 | 5.000%, 8/15/34 – AGM Insured | 8/24 at 100.00 | AA | 1,177,130 | ||
1,160 | 5.000%, 8/15/35 – AGM Insured | 8/24 at 100.00 | AA | 1,286,115 | ||
1,175 | Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 12/01/36 | 12/24 at 100.00 | AA+ | 1,331,193 | ||
1,680 | Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Refunding Series 2016A, 5.000%, 12/01/48 | 12/25 at 100.00 | AA+ | 1,899,122 | ||
500 | Flower Mound, Texas, Special Assessment Revenue Bonds, River Walk Public Improvement District 1, Series 2014, 6.500%, 9/01/36 | 9/19 at 103.00 | N/R | 509,255 | ||
2,500 | Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Contractual Obligations Series 2015B, 5.000%, 11/01/25 | No Opt. Call | AA+ | 2,938,700 | ||
1,390 | Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 11/01/41 | 11/21 at 100.00 | AA+ | 1,506,621 |
NTX | Nuveen Texas Quality Municipal Income Fund (continued) |
Portfolio of Investments as of May 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Tax Obligation/Limited (continued) | ||||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H: | ||||||
$ 450 | 0.000%, 11/15/24 – NPFG Insured | No Opt. Call | Baa2 | $358,664 | ||
210 | 0.000%, 11/15/32 – NPFG Insured | 11/31 at 94.05 | Baa2 | 116,565 | ||
260 | 0.000%, 11/15/33 | 11/31 at 88.44 | Baa2 | 134,992 | ||
2,045 | 0.000%, 11/15/34 – NPFG Insured | 11/31 at 83.17 | Baa2 | 991,927 | ||
1,130 | 0.000%, 11/15/36 – NPFG Insured | 11/31 at 73.51 | Baa2 | 479,403 | ||
4,370 | 0.000%, 11/15/38 – NPFG Insured | 11/31 at 64.91 | Baa2 | 1,630,578 | ||
2,260 | 0.000%, 11/15/39 – NPFG Insured | 11/31 at 60.98 | Baa2 | 789,056 | ||
400 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C, 5.000%, 11/15/34 | 11/24 at 100.00 | A3 | 439,196 | ||
1,000 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 11/15/28 | 11/24 at 100.00 | A2 | 1,128,940 | ||
3,440 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Senior Lien Series 2001G, 0.000%, 11/15/41 – NPFG Insured | 11/31 at 53.78 | A2 | 1,115,145 | ||
1,000 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/33 – NPFG Insured | 11/24 at 59.10 | Baa2 | 463,640 | ||
1,015 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014, 5.000%, 9/01/34 | 9/24 at 100.00 | A2 | 1,121,808 | ||
1,470 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B, 0.000%, 9/01/32 – AMBAC Insured | No Opt. Call | A2 | 855,187 | ||
10,000 | Texas State Transportation Commission, Highway Fund Revenue Bonds, First Tier Series 2016A, 5.000%, 10/01/30 (UB) (4) | 10/26 at 100.00 | AAA | 11,761,300 | ||
1,735 | Via Metropolitan Transit Advanced Transportation District, Texas, Sales Tax Revenue Bonds, Refunding & Improvement Series 2014, 5.000%, 8/01/38 | 8/24 at 100.00 | AAA | 1,971,550 | ||
43,250 | Total Tax Obligation/Limited | 37,329,747 | ||||
Transportation – 21.8% (14.0% of Total Investments) | ||||||
3,000 | Austin, Texas, Airport System Revenue Bonds, Series 2015, 5.000%, 11/15/39 (Alternative Minimum Tax) | 11/24 at 100.00 | A1 | 3,293,970 | ||
665 | Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien Series 2013, 5.000%, 1/01/42 | 1/23 at 100.00 | BBB | 713,206 | ||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010: | ||||||
2,945 | 0.000%, 1/01/36 | No Opt. Call | BBB+ | 1,423,407 | ||
2,205 | 0.000%, 1/01/37 | No Opt. Call | BBB+ | 1,018,842 | ||
2,160 | 0.000%, 1/01/38 | No Opt. Call | BBB+ | 953,748 | ||
1,000 | 0.000%, 1/01/40 | No Opt. Call | BBB+ | 403,600 | ||
1,000 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2010A, 5.000%, 11/01/42 | 11/20 at 100.00 | A+ | 1,060,950 | ||
1,165 | Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B, 5.000%, 11/01/35 | 11/20 at 100.00 | A+ | 1,237,976 | ||
1,670 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.125%, 10/01/43 | 10/23 at 100.00 | A- | 1,842,511 | ||
1,640 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 4/01/53 | 10/23 at 100.00 | AA+ | 1,799,408 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Transportation (continued) | ||||||
$ 1,165 | Harris County, Texas, Toll Road Revenue Bonds, Refunding Senior Lien Series 2012C, 5.000%, 8/15/31 | 8/22 at 100.00 | AA | $1,285,706 | ||
5,150 | Harris County, Texas, Toll Road Revenue Bonds, Refunding Senior Lien Series 2016A, 5.000%, 8/15/41 | 8/26 at 100.00 | Aa2 | 5,885,317 | ||
2,000 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2012A, 5.000%, 7/01/31 (Alternative Minimum Tax) | 7/22 at 100.00 | A+ | 2,165,080 | ||
1,750 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, 5.000%, 11/01/35 (Alternative Minimum Tax) | 11/25 at 100.00 | A1 | 1,947,715 | ||
3,000 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company, Series 2010, 5.250%, 11/01/40 | 11/20 at 100.00 | A3 | 3,205,410 | ||
North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A: | ||||||
20 | 6.100%, 1/01/28 | 1/19 at 100.00 | A1 | 20,471 | ||
375 | 6.250%, 1/01/39 | 1/19 at 100.00 | A1 | 384,037 | ||
2,500 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008D, 0.000%, 1/01/36 – AGC Insured | No Opt. Call | AA | 1,356,300 | ||
2,500 | San Antonio, Texas, Airport System Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/27 (Alternative Minimum Tax) | 7/22 at 100.00 | A+ | 2,713,375 | ||
35,910 | Total Transportation | 32,711,029 | ||||
U.S. Guaranteed – 18.1% (11.6% of Total Investments) (5) | ||||||
2,500 | Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Refunding Series 2010, 5.875%, 5/01/40 (Pre-refunded 5/01/20) | 5/20 at 100.00 | AA | 2,688,250 | ||
185 | El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – AGM Insured (ETM) | No Opt. Call | AA | 199,802 | ||
8,500 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Capital Appreciation Refunding Series 2009, 0.000%, 8/15/39 (Pre-refunded 8/15/18) | 8/18 at 22.64 | AA | 1,918,280 | ||
2,000 | Laredo Community College District, Webb County, Texas, Combined Fee Revenue Bonds, Series 2010, 5.250%, 8/01/35 (Pre-refunded 8/01/20) – AGM Insured | 8/20 at 100.00 | AA | 2,140,100 | ||
4,000 | Laredo, Webb County, Texas, Waterworks and Sewer System Revenue Bonds, Series 2010, 5.250%, 3/01/40 (Pre-refunded 3/01/20) | 3/20 at 100.00 | AA- | 4,229,080 | ||
365 | Lone Star College System, Harris and Montgomery Counties, Texas, General Obligation Bonds, Series 2009, 5.000%, 8/15/34 (Pre-refunded 8/15/19) | 8/19 at 100.00 | AAA | 379,250 | ||
25 | Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/15/29 (Pre-refunded 5/15/22) | 5/22 at 100.00 | N/R | 27,732 | ||
1,500 | Montgomery County, Texas, General Obligation Bonds, Refunding Series 2008B, 5.250%, 3/01/32 (Pre-refunded 3/01/19) | 3/19 at 100.00 | Aaa | 1,540,170 | ||
845 | North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds, Presbyterian Healthcare System, Series 1996A, 5.750%, 6/01/26 – NPFG Insured (ETM) | No Opt. Call | Aaa | 964,981 | ||
2,000 | North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children's Medical Center Dallas Project, Series 2009, 5.750%, 8/15/39 (Pre-refunded 8/15/19) | 8/19 at 100.00 | Aa2 | 2,095,780 | ||
885 | North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds, Children's Medical Center Dallas Project, Series 2012, 5.000%, 8/15/32 (Pre-refunded 8/15/22) | 8/22 at 100.00 | Aa2 | 990,598 |
NTX | Nuveen Texas Quality Municipal Income Fund (continued) |
Portfolio of Investments as of May 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
U.S. Guaranteed (5) (continued) | ||||||
$ 3,000 | North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series 2011D, 5.000%, 9/01/31 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | $3,285,000 | ||
2,000 | North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A, 5.500%, 9/01/41 (Pre-refunded 9/01/21) | 9/21 at 100.00 | N/R | 2,217,920 | ||
North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A: | ||||||
80 | 6.100%, 1/01/28 (Pre-refunded 1/01/19) | 1/19 at 100.00 | N/R | 82,018 | ||
1,625 | 6.250%, 1/01/39 (Pre-refunded 1/01/19) | 1/19 at 100.00 | N/R | 1,667,380 | ||
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2010: | ||||||
95 | 5.250%, 8/15/40 (Pre-refunded 8/15/20) | 8/20 at 100.00 | N/R | 101,772 | ||
1,155 | 5.250%, 8/15/40 (Pre-refunded 8/15/20) | 8/20 at 100.00 | AA- | 1,239,916 | ||
410 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Christus Health, Refunding Series 2008A, 6.500%, 7/01/37 (Pre-refunded 1/01/19) – AGC Insured | 1/19 at 100.00 | AA | 421,279 | ||
1,000 | Uptown Development Authority, Houston, Texas, Tax Increment Contract Revenue Bonds, Infrastructure Improvement Facilities, Series 2009, 5.500%, 9/01/29 (Pre-refunded 9/01/19) | 9/19 at 100.00 | BBB | 1,045,070 | ||
32,170 | Total U.S. Guaranteed | 27,234,378 | ||||
Utilities – 15.6% (10.0% of Total Investments) | ||||||
2,000 | Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2012A, 5.000%, 11/15/40 | 11/22 at 100.00 | AA | 2,195,920 | ||
3,000 | Austin, Texas, Electric Utility System Revenue Bonds, Refunding Series 2015A, 5.000%, 11/15/38 | 11/25 at 100.00 | AA | 3,393,450 | ||
2,560 | Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax) (6) | 8/18 at 100.00 | N/R | 26 | ||
2,000 | Brownsville, Texas, Utility System Revenue Bonds, Refunding Series 2015, 5.000%, 9/01/31 | 9/25 at 100.00 | A+ | 2,273,880 | ||
3,000 | Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2010A, 5.000%, 5/15/40 | 5/20 at 100.00 | A | 3,143,970 | ||
1,150 | Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012A, 5.000%, 5/15/36 | 5/22 at 100.00 | A | 1,245,243 | ||
1,975 | Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2012B, 5.000%, 5/15/29 | 5/22 at 100.00 | A | 2,168,827 | ||
1,500 | Matagorda County Navigation District Number One, Texas, Pollution Control Revenue Refunding Bonds, Central Power and Light Company Project, Series 2009A, 6.300%, 11/01/29 | 7/19 at 102.00 | A- | 1,598,775 | ||
1,000 | Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Bonds, Refunding Series 2012, 5.000%, 10/01/20 | No Opt. Call | BBB+ | 1,063,090 | ||
3,000 | Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 6.250%, 12/15/26 | No Opt. Call | A- | 3,511,830 | ||
1,000 | Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Series 2006A, 5.250%, 12/15/20 | No Opt. Call | A- | 1,073,640 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Utilities (continued) | ||||||
Texas Municipal Power Agency, Revenue Bonds, Refunding Transmission Series 2010: | ||||||
$ 640 | 5.000%, 9/01/34 | 9/20 at 100.00 | A+ | $679,398 | ||
1,000 | 5.000%, 9/01/40 | 9/20 at 100.00 | A+ | 1,058,400 | ||
23,825 | Total Utilities | 23,406,449 | ||||
Water and Sewer – 20.8% (13.4% of Total Investments) | ||||||
1,450 | Austin, Texas, Water and Wastewater System Revenue Bonds, Refunding Series 2016A, 5.000%, 11/15/41 | 11/26 at 100.00 | AA | 1,668,457 | ||
1,575 | Bell County Water Control Improvement District 1, Texas, Water Revenue Bonds, Series 2014, 5.000%, 7/10/38 – BAM Insured | 7/23 at 100.00 | AA | 1,729,145 | ||
2,500 | Canadian River Municipal Water Authority, Texas, Contract Revenue Bonds, Conjunctive Use Groundwater Supply Project, Subordinate Lien Series 2011, 5.000%, 2/15/31 | 2/21 at 100.00 | AA | 2,682,950 | ||
2,000 | Corpus Christi, Texas, Utility System Revenue Bonds, Improvement Junior Lien Series 2013, 5.000%, 7/15/43 | 7/23 at 100.00 | A+ | 2,201,220 | ||
5,000 | Dallas, Texas, Waterworks and Sewer System Revenue Bonds, Refunding Series 2017, 5.000%, 10/01/46 | 10/27 at 100.00 | AAA | 5,781,550 | ||
2,000 | Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2012D, 5.000%, 11/15/42 | 11/22 at 100.00 | AA | 2,214,520 | ||
710 | North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%, 12/15/36 – AGM Insured | 12/21 at 100.00 | AA | 767,624 | ||
3,860 | North Harris County Regional Water Authority, Texas, Water Revenue Bonds, Refunding Senior Lien Series 2013, 5.000%, 12/15/33 | 12/22 at 100.00 | AA- | 4,248,277 | ||
1,000 | Nueces River Authority, Texas, Water Supply Revenue Bonds, Corpus Christi Lake Texana Project, Refunding Series 2015, 5.000%, 7/15/26 | 7/25 at 100.00 | AA- | 1,163,390 | ||
2,640 | San Antonio, Texas, Water System Revenue Bonds, Refunding Junior Lien Series 2015B, 5.000%, 5/15/34 | 5/25 at 100.00 | AA | 3,004,320 | ||
5,000 | Texas Water Development Board, State Water Implementation Revenue Fund Bonds, Master Trust Taxable Series 2018A, 5.000%, 10/15/43 | 4/28 at 100.00 | AAA | 5,843,550 | ||
27,735 | Total Water and Sewer | 31,305,003 | ||||
$ 247,920 | Total Long-Term Investments (cost $221,702,698) | 233,953,278 | ||||
Total Long-Term Investments (cost $221,702,698) | 233,953,278 | |||||
Floating Rate Obligations – (10.6)% | (16,000,000) | |||||
MuniFund Preferred Shares, net of deferred offering costs – (47.7)% (7) | (71,628,467) | |||||
Other Assets Less Liabilities – 2.6% | 3,971,303 | |||||
Net Asset Applicable to Common Shares – 100% | $ 150,296,114 |
NTX | Nuveen Texas Quality Municipal Income Fund (continued) |
Portfolio of Investments as of May 31, 2018 | |
(Unaudited) |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $233,953,278 | $ — | $233,953,278 |
Tax cost of investments | $205,399,920 |
Gross unrealized: | |
Appreciation | $ 13,085,558 |
Depreciation | (532,200) |
Net unrealized appreciation (depreciation) of investments | $ 12,553,358 |
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. | |
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. | |
(3) | For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. | |
(4) | Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. | |
(5) | 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. | |
(6) | As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records. | |
(7) | MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 0.0% | |
ETM | Escrowed to maturity. | |
UB | Underlying bond of an inverse floating rate trust reflected as a financing transaction. |
Item 2. Controls and Procedures.
a. | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
b. | There were no changes in the registrants 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 registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting. |
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | Nuveen Texas Quality Municipal Income Fund | |||
By (Signature and Title) | /s/ Gifford R. Zimmerman | |||
Gifford R. Zimmerman | ||||
Vice President and Secretary |
Date: July 30, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Cedric H. Antosiewicz | |||
Cedric H. Antosiewicz | ||||
Chief Administrative Officer (principal executive officer) | ||||
Date: July 30, 2018 | ||||
By (Signature and Title) | /s/ Stephen D. Foy | |||
Stephen D. Foy | ||||
Vice President and Controller (principal financial officer) | ||||
Date: July 30, 2018 |