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 811-22779
Nuveen Intermediate Duration Quality Municipal Term 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: May 31
Date of reporting period: February 28, 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 – 127.3% (98.8% of Total Investments) | ||||||
MUNICIPAL BONDS – 127.3% (98.8% of Total Investments) | ||||||
Alabama – 3.9% (3.1% of Total Investments) | ||||||
$ 2,000 | Alabama Federal Aid Highway Finance Authority, Federal Highway Grant Anticipation Revenue Bonds, Tender Option Bond Trust 2016-XL0024, 17.817%, 9/01/26 (Pre-refunded 9/01/22), 144A (IF) (4) | 9/22 at 100.00 | AA (5) | $3,316,360 | ||
2,500 | Jefferson County, Alabama, General Obligation Warrants, Refunding Series 2003A, 5.000%, 4/01/22 – NPFG Insured | 5/18 at 100.00 | A3 | 2,504,375 | ||
1,000 | Lower Alabama Gas District, Alabama, Gas Project Revenue Bonds, Series 2016A, 5.000%, 9/01/34 | No Opt. Call | A3 | 1,174,390 | ||
5,500 | Total Alabama | 6,995,125 | ||||
Arizona – 1.8% (1.4% of Total Investments) | ||||||
Arizona Health Facilities Authority, Hospital Revenue Bonds, Phoenix Children's Hospital, Series 2013D: | ||||||
965 | 5.000%, 2/01/24 | 2/23 at 100.00 | A- | 1,061,345 | ||
1,065 | 5.000%, 2/01/26 | 2/23 at 100.00 | A- | 1,158,571 | ||
1,000 | University Medical Center Corporation, Tucson, Arizona, Hospital Revenue Bonds, Series 2011, 5.000%, 7/01/19 (ETM) | No Opt. Call | N/R (5) | 1,044,430 | ||
3,030 | Total Arizona | 3,264,346 | ||||
California – 16.9% (13.1% of Total Investments) | ||||||
3,000 | Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Senior Lien Series 2013A, 5.000%, 10/01/27 – AGM Insured | 10/23 at 100.00 | AA | 3,421,890 | ||
500 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A, 5.000%, 11/15/36 | 11/27 at 100.00 | AA- | 579,510 | ||
California Municipal Finance Authority, Revenue Bonds, Biola University, Series 2013: | ||||||
560 | 5.000%, 10/01/19 | No Opt. Call | Baa1 | 588,062 | ||
415 | 5.000%, 10/01/21 | No Opt. Call | Baa1 | 457,504 | ||
1,930 | 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 | BB+ | 2,104,665 | ||
3,335 | Eastern Municipal Water District Financing Authority, California, Water and Wastewater Revenue Bonds, Series 2017D, 5.250%, 7/01/42 | 7/27 at 100.00 | AA+ | 3,944,571 | ||
2,945 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.000%, 6/01/33 | 4/18 at 100.00 | B+ | 2,948,652 | ||
660 | Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax Allocation Bonds, Series 2007A, 5.500%, 9/01/27 – SYNCORA GTY Insured | 5/18 at 100.00 | N/R | 661,914 | ||
1,020 | Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Rancho Vallecitos Mobile Home Park, Series 2013, 4.500%, 4/15/23 | No Opt. Call | A- | 1,078,191 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007: | ||||||
$ 970 | 4.625%, 6/01/21 | 5/18 at 100.00 | N/R | $970,388 | ||
1,205 | 5.000%, 6/01/21 | 5/18 at 100.00 | N/R | 1,205,494 | ||
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities District 31 Eastvale Area, Series 2013: | ||||||
150 | 4.000%, 9/01/25 | 9/22 at 100.00 | N/R | 156,267 | ||
305 | 4.000%, 9/01/26 | 9/22 at 100.00 | N/R | 315,532 | ||
250 | 4.000%, 9/01/27 | 9/22 at 100.00 | N/R | 257,785 | ||
475 | Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010, 5.250%, 11/01/21 (Pre-refunded 11/01/20) | 11/20 at 100.00 | BBB- (5) | 507,105 | ||
1,790 | Patterson Public Financing Authority, California, Revenue Bonds, Community Facilities District 2001-1, Senior Series 2013A, 5.000%, 9/01/22 | No Opt. Call | N/R | 1,987,276 | ||
185 | Riverside County Redevelopment Agency, California, Tax Allocation Housing Bonds, Series 2011A, 0.000%, 10/01/26 (ETM) (6) | No Opt. Call | A (5) | 187,168 | ||
1,500 | San Diego Association of Governments, California, South Bay Expressway Toll Revenue Bonds, First Senior Lien Series 2017A, 5.000%, 7/01/36 | 7/27 at 100.00 | A | 1,731,960 | ||
2,000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016A, 5.000%, 5/01/26 | No Opt. Call | A+ | 2,391,560 | ||
1,400 | San Joaquin County Transportation Authority, California, Sales Tax Revenue, Limited Tax Measure K Series 2017, 5.000%, 3/01/32 | 3/27 at 100.00 | AA | 1,652,014 | ||
Vernon, California, Electric System Revenue Bonds, Series 2009A: | ||||||
655 | 5.125%, 8/01/21 (Pre-refunded 8/01/19) | 8/19 at 100.00 | N/R (5) | 681,842 | ||
1,190 | 5.125%, 8/01/21 | 8/19 at 100.00 | A- | 1,246,347 | ||
925 | Washington Township Health Care District, California, Revenue Bonds, Series 2009A, 6.000%, 7/01/29 | 7/19 at 100.00 | Baa1 | 963,110 | ||
27,365 | Total California | 30,038,807 | ||||
Colorado – 4.6% (3.6% of Total Investments) | ||||||
Colorado Educational and Cultural Facilities Authority, Charter School Refunding Revenue Bonds, Pinnacle Charter School, Inc. K-8 Facility Project, Series 2013: | ||||||
280 | 4.000%, 6/01/18 | No Opt. Call | A | 281,490 | ||
310 | 4.000%, 6/01/20 | No Opt. Call | A | 322,856 | ||
250 | 5.000%, 6/01/21 | No Opt. Call | A | 271,732 | ||
Colorado State Board of Governors, Colorado State University Auxiliary Enterprise System Revenue Bonds, Tender Option Bond Trust 2016-XF2354: | ||||||
100 | 18.548%, 3/01/25 (IF) ,144A (4) | No Opt. Call | AA | 184,681 | ||
300 | 18.548%, 3/01/26 (IF) ,144A (4) | No Opt. Call | AA | 571,485 | ||
430 | 18.509%, 3/01/27 (IF) ,144A (4) | No Opt. Call | AA | 838,728 | ||
725 | 18.548%, 3/01/28 (IF) ,144A (4) | No Opt. Call | AA | 1,451,232 | ||
200 | 18.548%, 3/01/29 (IF) ,144A (4) | No Opt. Call | AA | 407,000 | ||
1,870 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016, 5.000%, 12/01/30 | 12/26 at 100.00 | Baa2 | 2,148,032 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Colorado (continued) | ||||||
$ 350 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%, 9/01/21 – NPFG Insured | No Opt. Call | A- | $322,987 | ||
1,000 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.500%, 11/15/38 | No Opt. Call | A | 1,375,690 | ||
5,815 | Total Colorado | 8,175,913 | ||||
Florida – 10.5% (8.2% of Total Investments) | ||||||
Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A: | ||||||
420 | 5.000%, 11/15/20 | No Opt. Call | BBB | 450,568 | ||
150 | 5.000%, 11/15/23 | No Opt. Call | BBB | 168,453 | ||
460 | Belmont Community Development District, Florida, Capital Improvement Revenue Bonds, Phase 1 Project, Series 2013A, 5.500%, 11/01/23 | No Opt. Call | N/R | 491,326 | ||
1,270 | Brwoard County, Florida, Fuel System Revenue Bonds, Fort Lauderdale Fuel Facilities LLC Project, Series 2013A, 5.000%, 4/01/23 – AGM Insured (Alternative Minimum Tax) | No Opt. Call | AA | 1,412,888 | ||
1,740 | Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2017., 5.000%, 10/01/33 | 10/27 at 100.00 | A+ | 2,020,001 | ||
415 | Capital Trust Agency, Florida, Fixed Rate Air Cargo Revenue Refunding Bonds, Aero Miami FX, LLC Project, Series 2010A, 5.350%, 7/01/29 | 7/20 at 100.00 | Baa3 | 432,206 | ||
1,890 | Collier County Educational Facilities Authority, Florida, Revenue Bonds, Ave Maria University, Refunding Series 2013A, 4.500%, 6/01/23 | No Opt. Call | BBB- | 1,943,241 | ||
1,000 | Florida Mid-Bay Bridge Authority, Revenue Bonds, 1st Senior Lien Series 2015A, 5.000%, 10/01/23 | No Opt. Call | BBB+ | 1,132,790 | ||
2,960 | Florida Municipal Power Agency, Revenue Bonds, Saint Lucie Project, Refunding Series 2012A, 5.000%, 10/01/26 | 10/22 at 100.00 | A2 | 3,281,041 | ||
500 | Gainesville, Florida, Utilities System Revenue Bonds, Series 2017A, 5.000%, 10/01/37 | 10/27 at 100.00 | AA- | 576,865 | ||
Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 2013: | ||||||
3,150 | 3.950%, 12/15/21 (Alternative Minimum Tax) ,144A | 6/20 at 100.00 | Baa2 | 3,224,655 | ||
500 | 4.200%, 12/15/25 (Alternative Minimum Tax) ,144A | 6/20 at 100.00 | Baa2 | 510,030 | ||
1,400 | Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Jupiter Medical Center, Series 2013A, 5.000%, 11/01/22 | No Opt. Call | BBB+ | 1,530,536 | ||
305 | Southeast Overtown/Park West Community Redevelopment Agency, Florida, Tax Increment Revenue Bonds, Series 2014A-1, 5.000%, 3/01/24, 144A | No Opt. Call | BBB+ | 340,380 | ||
1,215 | Verandah West Community Development District, Florida, Capital Improvement Revenue Bonds, Refunding Series 2013, 4.000%, 5/01/23 | No Opt. Call | N/R | 1,210,456 | ||
17,375 | Total Florida | 18,725,436 | ||||
Georgia – 1.7% (1.3% of Total Investments) | ||||||
1,025 | Atlanta, Georgia, Tax Allocation Bonds, Perry Bolton Project Series 2014, 4.000%, 7/01/22 | No Opt. Call | A- | 1,097,283 | ||
1,000 | Gainesville and Hall County Hospital Authority, Georgia, Revenue Anticipation Certificates, Northeast Georgia Health Services Inc., Series 2017B, 5.500%, 2/15/42 | 2/27 at 100.00 | AA | 1,180,620 | ||
843 | Liberty County Industrial Authority, Georgia, Revenue Bonds, Series 2012A-2, 3.930%, 7/01/26 | 5/18 at 100.00 | N/R | 735,023 | ||
2,868 | Total Georgia | 3,012,926 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Illinois – 12.3% (9.5% of Total Investments) | ||||||
$ 2,500 | Cook County, Illinois, General Obligation Bonds, Tender Option Bond Trust 2015-XF1007, 14.388%, 11/15/25, 144A (IF) (4) | 11/22 at 100.00 | AA- | $3,509,000 | ||
550 | Hillside, Cook County, Illinois, Tax Increment Revenue Bonds, Mannheim Redevelopment Project, Senior Lien Series 2008, 6.550%, 1/01/20 | 5/18 at 100.00 | N/R | 561,594 | ||
2,680 | Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding Series 2006A, 5.000%, 4/01/24 | 5/18 at 100.00 | Baa3 | 2,681,125 | ||
4,000 | Illinois Municipal Electric Agency, Power Supply System Revenue Bonds, Refunding Series 2015A, 5.000%, 2/01/27 | 8/25 at 100.00 | A1 | 4,591,160 | ||
5,000 | Illinois State, General Obligation Bonds, Series 2013, 5.000%, 7/01/23 | No Opt. Call | BBB | 5,249,850 | ||
1,790 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2014A, 5.000%, 12/01/19 | No Opt. Call | AA- | 1,893,140 | ||
290 | Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding Series 2017A, 5.000%, 11/01/33 – AGM Insured | 11/26 at 100.00 | AA | 322,028 | ||
1,000 | Southwestern Illinois Development Authority, Local Government Revenue Bonds, Edwardsville Community Unit School District 7 Project, Series 2007, 0.000%, 12/01/22 – AGM Insured | No Opt. Call | AA | 855,290 | ||
2,000 | Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/33 | 3/25 at 100.00 | A | 2,208,260 | ||
19,810 | Total Illinois | 21,871,447 | ||||
Indiana – 1.6% (1.3% of Total Investments) | ||||||
1,145 | Indiana Finance Authority, Educational Facilities Revenue Bonds, 21st Century Charter School Project, Series 2013A, 6.000%, 3/01/33 | 3/23 at 100.00 | B+ | 1,156,290 | ||
1,500 | Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series 2015A, 5.000%, 2/01/25 | No Opt. Call | AA+ | 1,735,680 | ||
2,645 | Total Indiana | 2,891,970 | ||||
Iowa – 1.7% (1.3% of Total Investments) | ||||||
855 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/27, 144A | 6/19 at 105.00 | B | 912,422 | ||
2,000 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 5/18 at 100.00 | BB- | 2,020,640 | ||
2,855 | Total Iowa | 2,933,062 | ||||
Kentucky – 2.3% (1.7% of Total Investments) | ||||||
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1: | ||||||
1,320 | 5.750%, 12/01/28 (Pre-refunded 6/01/18) – AGC Insured | 6/18 at 100.00 | AA (5) | 1,334,652 | ||
115 | 6.000%, 12/01/33 (Pre-refunded 6/01/18) – AGC Insured | 6/18 at 100.00 | AA (5) | 116,347 | ||
3,000 | Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds, Downtown Crossing Project, Capital Appreciation Series 2013B, 0.000%, 7/01/23 | No Opt. Call | Baa3 | 2,543,610 | ||
4,435 | Total Kentucky | 3,994,609 | ||||
Louisiana – 0.6% (0.5% of Total Investments) | ||||||
1,000 | New Orleans, Louisiana, Water Revenue Bonds, Refunding Series 2014, 5.000%, 12/01/22 | No Opt. Call | A- | 1,115,960 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Maine – 2.4% (1.8% of Total Investments) | ||||||
$ 1,000 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2013, 5.000%, 7/01/33 | 7/23 at 100.00 | BBB | $1,036,100 | ||
Maine Turnpike Authority, Special Obligation Bonds, Series 2014: | ||||||
620 | 5.000%, 7/01/25 | 7/24 at 100.00 | A+ | 706,707 | ||
340 | 5.000%, 7/01/27 | 7/24 at 100.00 | A+ | 386,060 | ||
1,850 | 5.000%, 7/01/29 | 7/24 at 100.00 | A+ | 2,084,543 | ||
3,810 | Total Maine | 4,213,410 | ||||
Maryland – 1.3% (1.0% of Total Investments) | ||||||
615 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017, 5.000%, 9/01/32 | 9/27 at 100.00 | BBB- | 702,342 | ||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial Hospital Issue, Series 2012A: | ||||||
195 | 5.000%, 7/01/20 | No Opt. Call | Baa1 | 208,574 | ||
275 | 5.000%, 7/01/22 | No Opt. Call | Baa1 | 306,149 | ||
1,000 | Prince George's County, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2011A, 5.000%, 9/15/22 (Pre-refunded 9/15/21) | 9/21 at 100.00 | AAA | 1,112,050 | ||
2,085 | Total Maryland | 2,329,115 | ||||
Massachusetts – 2.0% (1.5% of Total Investments) | ||||||
250 | Massachusetts Development Finance Agency, First Mortgage Revenue Bonds, Brookhaven at Lexington Project, Series 2005A, 5.000%, 3/01/35 (Pre-refunded 4/09/18) – RAAI Insured | 4/18 at 100.00 | AA (5) | 250,610 | ||
1,000 | Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, Covanta Energy Project, Series 2012A, 4.875%, 11/01/27 (Alternative Minimum Tax), 144A | 5/18 at 100.00 | BB+ | 1,000,780 | ||
Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2012C: | ||||||
80 | 5.000%, 7/01/29 (Pre-refunded 7/01/22) | 7/22 at 100.00 | N/R (5) | 90,403 | ||
420 | 5.000%, 7/01/29 | 7/22 at 100.00 | BBB | 452,794 | ||
500 | 5.000%, 7/01/29 (Pre-refunded 7/01/22) | 7/22 at 100.00 | Baa2 (5) | 561,695 | ||
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series 2001A: | ||||||
140 | 5.000%, 1/01/21 – AMBAC Insured (Alternative Minimum Tax) | 5/18 at 100.00 | N/R | 142,160 | ||
1,000 | 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax) | 7/18 at 100.00 | N/R | 1,015,390 | ||
3,390 | Total Massachusetts | 3,513,832 | ||||
Michigan – 5.8% (4.5% of Total Investments) | ||||||
1,000 | Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Tender Option Bond Trust 2016-XG0091, 19.126%, 5/01/30 – AGM Insured, 144A (IF) (4) | No Opt. Call | Aa1 | 1,925,970 | ||
5 | Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%, 7/01/36 – FGIC Insured | 5/18 at 100.00 | BBB+ | 5,013 | ||
5 | Detroit, Michigan, Water Supply System Second Lien Revenue Bonds, Series 2003B, 5.000%, 7/01/34 – NPFG Insured | 5/18 at 100.00 | BBB+ | 5,014 | ||
730 | Flint Hospital Building Authority, Michigan, Building Authority Revenue Bonds, Hurley Medical Center, Series 2013A, 5.000%, 7/01/23 | No Opt. Call | BBB- | 775,501 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Michigan (continued) | ||||||
$ 2,020 | Michigan Finance Authority, Hospital Revenue Bonds, Crittenton Hospital Medical Center, Refunding Series 2012A, 4.125%, 6/01/32 (Pre-refunded 6/01/22) | 6/22 at 100.00 | N/R (5) | $2,188,751 | ||
3,000 | Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Water Supply System Local Project, Refunding Senior Loan Series 2014D-1, 5.000%, 7/01/23 – AGM Insured | No Opt. Call | AA | 3,396,030 | ||
120 | Michigan Finance Authority, Public School Academy Limited Obligation Revenue Bonds, Old Redford Academy Project, Series 2010A, 5.250%, 12/01/20 | No Opt. Call | BB- | 119,445 | ||
1,405 | Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Tender Option Bond Trust 2015-XF0126, 17.877%, 12/01/27, 144A (IF) (4) | 12/20 at 100.00 | AA- | 1,929,823 | ||
8,285 | Total Michigan | 10,345,547 | ||||
Minnesota – 1.3% (1.0% of Total Investments) | ||||||
550 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2016, 5.000%, 1/01/27 | 1/26 at 100.00 | A- | 633,699 | ||
750 | Rochester, Minnesota, Health Care Facilities Revenue Bonds, Olmsted Medical Center Project, Series 2013, 5.000%, 7/01/20 | No Opt. Call | A | 803,753 | ||
Saint Paul Housing and Redevelopment Authority, Minnesota, Lease Revenue Bonds, Saint Paul Conservatory for Performing Artists Charter School Project, Series 2013A: | ||||||
205 | 3.550%, 3/01/21 | No Opt. Call | BB+ | 205,986 | ||
100 | 3.700%, 3/01/22 | No Opt. Call | BB+ | 100,666 | ||
500 | Sauk Rapids, Minnesota, Health Care and Housing Facilities Revenue Bonds, Good Shepherd Lutheran Home, Refunding Series 2013, 5.000%, 1/01/19 | No Opt. Call | N/R | 508,700 | ||
2,105 | Total Minnesota | 2,252,804 | ||||
Mississippi – 1.8% (1.4% of Total Investments) | ||||||
Mississippi Development Bank Special Obligation Bonds, Marshall County Industrial Development Authority, Mississippi Highway Construction Project, Tender Option Bond Trust 2016-XG0092: | ||||||
800 | 18.548%, 1/01/24 (Pre-refunded 1/01/22) (IF) ,144A (4) | 1/22 at 100.00 | Aa3 (5) | 1,266,920 | ||
1,000 | 18.548%, 1/01/25 (Pre-refunded 1/01/22) (IF) ,144A (4) | 1/22 at 100.00 | Aa3 (5) | 1,583,650 | ||
200 | 18.548%, 1/01/26 (Pre-refunded 1/01/22) (IF) ,144A (4) | 1/22 at 100.00 | Aa3 (5) | 316,730 | ||
2,000 | Total Mississippi | 3,167,300 | ||||
Missouri – 2.0% (1.6% of Total Investments) | ||||||
240 | Franklin County Industrial Development Authority, Missouri, Sales Tax Refunding Revenue Bonds, Phoenix Center II Community Improvement District Project, Series 2013A, 4.000%, 11/01/25 | 11/20 at 100.00 | N/R | 236,407 | ||
3,000 | Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2014A, 5.000%, 1/01/23 | No Opt. Call | A | 3,372,600 | ||
3,240 | Total Missouri | 3,609,007 | ||||
Nebraska – 1.8% (1.4% of Total Investments) | ||||||
3,000 | Central Plains Energy Project, Nebraska, Gas Project 3 Revenue Bonds, Series 2012, 5.000%, 9/01/32 | 9/22 at 100.00 | A | 3,253,290 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Nevada – 2.0% (1.5% of Total Investments) | ||||||
$ 515 | Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A, 5.000%, 9/01/47 | 9/27 at 100.00 | BBB+ | $559,172 | ||
Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Refunding Series 2016: | ||||||
1,295 | 5.000%, 6/15/26 | No Opt. Call | BBB+ | 1,511,628 | ||
1,210 | 5.000%, 6/15/27 | 6/26 at 100.00 | BBB+ | 1,403,648 | ||
3,020 | Total Nevada | 3,474,448 | ||||
New Jersey – 7.0% (5.4% of Total Investments) | ||||||
615 | New Jersey Economic Development Authority, Charter School Revenue Bonds, Lady Liberty Academy Charter School Project, Series 2013A, 5.150%, 8/01/23 | No Opt. Call | N/R | 369,000 | ||
New Jersey Economic Development Authority, Cigarette Tax Revenue Refunding Bonds, Series 2012: | ||||||
2,000 | 5.000%, 6/15/24 | 6/22 at 100.00 | BBB+ | 2,179,000 | ||
1,000 | 5.000%, 6/15/28 | 6/22 at 100.00 | BBB+ | 1,074,420 | ||
New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013: | ||||||
860 | 5.000%, 1/01/21 (Alternative Minimum Tax) | No Opt. Call | BBB | 929,892 | ||
500 | 5.000%, 1/01/22 (Alternative Minimum Tax) | No Opt. Call | BBB | 551,725 | ||
500 | 5.000%, 7/01/22 (Alternative Minimum Tax) | No Opt. Call | BBB | 556,420 | ||
620 | 5.000%, 1/01/23 (Alternative Minimum Tax) | No Opt. Call | BBB | 695,194 | ||
1,000 | New Jersey Economic Development Authority, School Facilities Construction Financing Program Bonds, Tender Option Bond Trust 2016-XF2340, 4.470%, 9/01/25, 144A (IF) (4) | 3/25 at 100.00 | BBB+ | 879,350 | ||
1,000 | New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 5.250%, 9/15/29 (Alternative Minimum Tax) | 8/22 at 101.00 | BB- | 1,091,610 | ||
1,045 | New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.250%, 7/01/21 | 7/18 at 100.00 | BB+ | 1,052,879 | ||
70 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Joseph's Healthcare System Obligated Group Issue, Series 2008, 6.000%, 7/01/18 (ETM) | No Opt. Call | Baa3 (5) | 71,080 | ||
3,000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 5.000%, 6/01/29 | 4/18 at 100.00 | BBB- | 3,004,530 | ||
12,210 | Total New Jersey | 12,455,100 | ||||
New York – 4.3% (3.4% of Total Investments) | ||||||
495 | Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015, 5.000%, 7/01/29 | 7/25 at 100.00 | BBB+ | 548,356 | ||
4,250 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2017., 5.000%, 9/01/47 | 9/27 at 100.00 | A- | 4,794,298 | ||
2,000 | New York Convention Center Development Corporation, New York, Revenue Bonds, Hotel Unit Fee Secured, Refunding Series 2015, 5.000%, 11/15/25 | No Opt. Call | Aa3 | 2,352,880 | ||
6,745 | Total New York | 7,695,534 | ||||
North Carolina – 0.2% (0.2% of Total Investments) | ||||||
400 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Series 2009A, 5.250%, 1/01/25 (Pre-refunded 1/01/19) – AGC Insured | 1/19 at 100.00 | AA (5) | 412,700 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Ohio – 5.5% (4.3% of Total Investments) | ||||||
$ 3,500 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/30 | 5/18 at 100.00 | B- | $3,392,515 | ||
3,000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (Mandatory Put 12/03/18) | No Opt. Call | D | 1,020,000 | ||
2,000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19 | No Opt. Call | BBB- | 2,060,680 | ||
1,150 | Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC - Borrower, Portsmouth Bypass Project, Series 2015, 5.000%, 12/31/27 – AGM Insured (Alternative Minimum Tax) | 6/25 at 100.00 | AA | 1,297,821 | ||
2,000 | Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008, 5.750%, 12/01/28 (Pre-refunded 12/01/18) | 12/18 at 100.00 | A- (5) | 2,064,540 | ||
11,650 | Total Ohio | 9,835,556 | ||||
Oklahoma – 0.7% (0.6% of Total Investments) | ||||||
1,120 | Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Refunding Series 2016, 5.000%, 7/01/36 | 7/26 at 100.00 | AAA | 1,287,552 | ||
Oregon – 0.6% (0.5% of Total Investments) | ||||||
965 | Astoria Hospital Facilities Authority, Oregon, Hospital Revenue and Refunding Bonds, Columbia Memorial Hospital, Series 2012, 5.000%, 8/01/22 | No Opt. Call | BBB- | 1,065,630 | ||
Pennsylvania – 4.1% (3.2% of Total Investments) | ||||||
90 | East Hempfield Township Industrial Development Authority, Pennsylvania, Student Services Inc - Student Housing Project at Millersville University, Series 2013, 4.000%, 7/01/19 | No Opt. Call | BBB- | 92,027 | ||
Erie Higher Education Building Authority, Pennsylvania, Revenue Bonds, Gannon University Project, Series 2013: | ||||||
465 | 4.000%, 5/01/20 | No Opt. Call | BBB+ | 482,782 | ||
480 | 4.000%, 5/01/21 | No Opt. Call | BBB+ | 504,749 | ||
500 | 4.000%, 5/01/22 | No Opt. Call | BBB+ | 530,285 | ||
520 | 4.000%, 5/01/23 | No Opt. Call | BBB+ | 555,989 | ||
2,190 | Erie Sewer Authority, Erie County, Pennsylvania, Sewer Revenue Bonds, Series 2012A, 5.000%, 6/01/21 – AGM Insured | No Opt. Call | AA | 2,390,451 | ||
1,700 | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, 5.000%, 6/30/28 (Alternative Minimum Tax) | 6/26 at 100.00 | BBB | 1,911,497 | ||
Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2013: | ||||||
370 | 5.000%, 12/01/20 | No Opt. Call | BBB | 396,436 | ||
435 | 5.000%, 12/01/21 | No Opt. Call | BBB | 474,467 | ||
6,750 | Total Pennsylvania | 7,338,683 | ||||
Rhode Island – 1.8% (1.4% of Total Investments) | ||||||
3,000 | Rhode Island Health & Educational Building Corporation, Public Schools Financing Program Revenue Bonds, Pooled Series 2009E, 6.000%, 5/15/29 (Pre-refunded 5/15/19) – AGC Insured | 5/19 at 100.00 | AA (5) | 3,161,340 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
South Carolina – 1.2% (1.0% of Total Investments) | ||||||
$ 2,000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2014B, 5.000%, 12/01/31 | 6/24 at 100.00 | A+ | $ 2,199,900 | ||
Tennessee – 6.5% (5.0% of Total Investments) | ||||||
Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2012A: | ||||||
1,440 | 5.000%, 1/01/25 | 1/23 at 100.00 | A | 1,609,762 | ||
2,170 | 5.000%, 1/01/26 | 1/23 at 100.00 | A | 2,417,423 | ||
2,000 | Memphis-Shelby County Airport Authority, Tennessee, Airport Revenue Bonds, Series 2010B, 5.750%, 7/01/22 (Alternative Minimum Tax) | 7/20 at 100.00 | A | 2,171,800 | ||
450 | Metropolitan Government of Nashville-Davidson County, Tennessee, Water and Sewerage Revenue Bonds, Green Series 2017A, 5.000%, 7/01/42 | 7/27 at 100.00 | AA | 516,046 | ||
400 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006B, 5.625%, 9/01/26 | No Opt. Call | BBB | 459,476 | ||
The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C: | ||||||
1,020 | 5.000%, 2/01/21 | No Opt. Call | A | 1,103,773 | ||
1,490 | 5.000%, 2/01/24 | No Opt. Call | A | 1,677,859 | ||
1,365 | 5.000%, 2/01/25 | No Opt. Call | A | 1,547,951 | ||
10,335 | Total Tennessee | 11,504,090 | ||||
Texas – 10.4% (8.0% of Total Investments) | ||||||
500 | Central Texas Regional Mobility Authority, Revenue Bonds, Refunding Subordinate Lien Series 2013, 5.000%, 1/01/22 | No Opt. Call | BBB | 546,715 | ||
200 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010, 5.750%, 1/01/25 (Pre-refunded 1/01/20) | 1/20 at 100.00 | BBB+ (5) | 215,022 | ||
685 | Denton County Fresh Water Supply District 7, Texas, General Obligation Bonds, Refunding Series 2013, 4.000%, 2/15/21 – AGM Insured | No Opt. Call | AA | 720,058 | ||
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 | 2,075,920 | ||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Refunding Second Lien Series 2014C: | ||||||
230 | 5.000%, 11/15/22 | No Opt. Call | A3 | 255,139 | ||
1,660 | 5.000%, 11/15/23 | No Opt. Call | A3 | 1,867,018 | ||
960 | 5.000%, 11/15/25 | 11/24 at 100.00 | A3 | 1,086,960 | ||
515 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2011A, 5.250%, 9/01/19 | No Opt. Call | A2 | 540,894 | ||
Irving, Texas, Hotel Occupancy Tax Revenue Bonds, Series 2014B: | ||||||
465 | 4.000%, 8/15/22 | 8/19 at 100.00 | BBB+ | 472,152 | ||
535 | 4.000%, 8/15/23 | 8/19 at 100.00 | BBB+ | 541,554 | ||
100 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company - Love Field Modernization Program Project, Series 2012, 5.000%, 11/01/20 (Alternative Minimum Tax) | No Opt. Call | A3 | 108,203 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Texas (continued) | ||||||
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Tender Option Bond Trust 2016-XG0058: | ||||||
$ 100 | 18.304%, 8/15/22 (IF) ,144A (4) | No Opt. Call | Aa3 | $161,506 | ||
155 | 18.143%, 8/15/24 (IF) ,144A (4) | 8/23 at 100.00 | Aa3 | 262,127 | ||
200 | 18.304%, 8/15/26 (IF) ,144A (4) | 8/23 at 100.00 | Aa3 | 325,264 | ||
175 | 18.111%, 8/15/27 (IF) ,144A (4) | 8/23 at 100.00 | Aa3 | 279,232 | ||
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- | 3,518,880 | ||
3,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/27 | 12/22 at 100.00 | A3 | 3,299,250 | ||
360 | Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, Series 2011, 6.000%, 5/01/23 | 5/21 at 100.00 | BBB | 393,376 | ||
1,480 | Texas State, General Obligation Bonds, Water Financial Assistance, Refunding Series 2016B1, 5.000%, 8/01/26 | No Opt. Call | AAA | 1,762,872 | ||
16,320 | Total Texas | 18,432,142 | ||||
Utah – 2.4% (1.9% of Total Investments) | ||||||
3,000 | Salt Lake County, Utah, Research Facility Revenue Bonds, Huntsman Cancer Foundation, Series 2013A-1, 5.000%, 12/01/33 (Pre-refunded 12/17/18) (Mandatory Put 12/15/20) | 12/18 at 100.00 | N/R (5) | 3,084,900 | ||
435 | Utah Water Finance Agency, Revenue Bonds, Pooled Loan Financing Program, Series 2017A, 5.000%, 3/01/35 | 3/27 at 100.00 | AA | 499,458 | ||
600 | Utah Water Finance Agency, Revenue Bonds, Pooled Loan Financing Program, Series 2017C, 5.000%, 3/01/34 | 3/27 at 100.00 | AA | 691,962 | ||
4,035 | Total Utah | 4,276,320 | ||||
Vermont – 0.5% (0.4% of Total Investments) | ||||||
900 | Vermont Economic Development Authority, Solid Waste Disposal Revenue Bonds, Casella Waste Systems, Inc. Project, Series 2013, 4.625%, 4/01/36 (Alternative Minimum Tax) (Mandatory Put 4/03/28), 144A | No Opt. Call | B- | 901,359 | ||
Virgin Islands – 1.1% (0.9% of Total Investments) | ||||||
2,000 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2012A, 4.000%, 10/01/22 – AGM Insured | No Opt. Call | AA | 2,021,440 | ||
Virginia – 1.2% (0.9% of Total Investments) | ||||||
1,340 | Chesapeake Bay Bridge and Tunnel District, Virginia, General Resolution Revenue Bonds, First Tier Series 2016, 5.000%, 7/01/41 – AGM Insured | 7/26 at 100.00 | AA | 1,492,291 | ||
535 | Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Series 2012A, 5.000%, 7/15/21 | No Opt. Call | BBB | 591,084 | ||
1,875 | Total Virginia | 2,083,375 | ||||
Washington – 0.5% (0.3% of Total Investments) | ||||||
700 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015A, 5.000%, 4/01/27 | 10/24 at 100.00 | AA- | 802,823 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
West Virginia – 0.6% (0.4% of Total Investments) | ||||||
$ 1,035 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Refundng Series 2015A, 1.900%, 3/01/40 (Mandatory Put 4/01/19) | No Opt. Call | A- | $ 1,030,270 | ||
Wisconsin – 0.4% (0.3% of Total Investments) | ||||||
University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Tender Option Bond Trust 2015-XF0127: | ||||||
50 | 16.780%, 4/01/22 (IF) ,144A (4) | No Opt. Call | AA- | 77,575 | ||
100 | 17.400%, 4/01/23 (IF) ,144A (4) | No Opt. Call | AA- | 167,198 | ||
185 | 17.107%, 4/01/24 (IF) ,144A (4) | 4/23 at 100.00 | AA- | 301,839 | ||
100 | 17.400%, 4/01/25 (IF) ,144A (4) | 4/23 at 100.00 | AA- | 162,586 | ||
435 | Total Wisconsin | 709,198 | ||||
$ 206,108 | Total Long-Term Investments (cost $224,746,043) | 226,391,366 |
Principal Amount (000) | Description (1) | Optional Call Provision (2) | Ratings (3) | Value | ||
SHORT-TERM INVESTMENTS – 1.5% (1.2% of Total Investments) | ||||||
MUNICIPAL BONDS – 1.5% (1.2% of Total Investments) | ||||||
Illinois – 0.6% (0.5% of Total Investments) | ||||||
$ 1,050 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Variable Rate Demand Obligations, Tender Option Bond Floater 2015-XM0114, 1.120%, 7/01/37 (7) | 7/18 at 100.00 | A-1 | $ 1,050,000 | ||
Maine – 0.1% (0.1% of Total Investments) | ||||||
200 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Bowdoin College, Variable Rate Demand Obligations, Tender Option Bond Floater 2009-XF0402, 1.120%, 7/01/39 (7) | 7/19 at 100.00 | VMIG-1 | 200,000 | ||
Washington – 0.8% (0.6% of Total Investments) | ||||||
1,500 | Washington State Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative, Variable Rate Demand Obligations, Tender Option Bond Floater 2016-XM0424, 1.440%, 2/01/41 (7) | 2/21 at 100.00 | VMIG-3 | 1,500,000 | ||
$ 2,750 | Total Short-Term Investments (cost $2,750,000) | 2,750,000 | ||||
Total Investments (cost $227,496,043) – 128.8% | 229,141,366 | |||||
Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs – (30.9)% (8) | (54,875,192) | |||||
Other Assets Less Liabilities – 2.1% | 3,605,637 | |||||
Net Assets Applicable to Common Shares – 100% | $ 177,871,811 |
NIQ | Nuveen Intermediate Duration Quality Municipal Term Fund (continued) |
Portfolio of Investments February 28, 2018 | |
(Unaudited) |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $226,391,366 | $ — | $226,391,366 |
Short-Term Investments: | ||||
Municipal Bonds | — | 2,750,000 | — | 2,750,000 |
Total | $ — | $229,141,366 | $ — | $229,141,366 |
Tax cost of investments | $227,281,059 |
Gross unrealized: | |
Appreciation | $ 5,002,629 |
Depreciation | (3,142,322) |
Net unrealized appreciation (depreciation) of investments | $ 1,860,307 |
(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) | 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. | |
(7) | Investment has 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. | |
(8) | Variable Rate MuniFund Term Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 23.9%. | |
144A | Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. | |
ETM | Escrowed to maturity. | |
IF | Inverse floating rate security issued by a tender option bond (“TOB”) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. |
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 Intermediate Duration Quality Municipal Term Fund | |||
By (Signature and Title) | /s/ Gifford R. Zimmerman | |||
Gifford R. Zimmerman | ||||
Vice President and Secretary |
Date: April 27, 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: April 27, 2018 | ||||
By (Signature and Title) | /s/ Stephen D. Foy | |||
Stephen D. Foy | ||||
Vice President and Controller (principal financial officer) | ||||
Date: April 27, 2018 |