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 811-06693
Nuveen Select Tax-Free Income Portfolio 3
(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: March 31
Date of reporting period: December 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 – 98.8% | ||||||
MUNICIPAL BONDS – 98.8% | ||||||
Alabama – 0.6% | ||||||
$ 1,170 | Birmingham, Alabama, General Obligation Convertible Capital Appreciation Bonds, Series 2013A, 5.000%, 3/01/32 | No Opt. Call | AA | $ 1,277,617 | ||
Alaska – 1.3% | ||||||
2,675 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32 | 3/19 at 100.00 | B3 | 2,626,208 | ||
Arizona – 0.1% | ||||||
215 | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise Schools Projects, Series 2016, 2.875%, 7/01/21, 144A | No Opt. Call | BB+ | 213,286 | ||
California – 22.5% | ||||||
12,500 | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C, 0.000%, 9/01/35 – AGM Insured | No Opt. Call | AA | 6,611,000 | ||
1,000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36 | 12/19 at 100.00 | B2 | 1,000,550 | ||
1,125 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Sonoma County Tobacco Securitization Corporation, Series 2005, 5.000%, 6/01/26 | 3/19 at 100.00 | BBB+ | 1,127,678 | ||
890 | California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38 (Pre-refunded 8/01/19) | 8/19 at 100.00 | N/R (4) | 916,397 | ||
160 | California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29 | 3/19 at 100.00 | Baa2 | 161,091 | ||
2,275 | Folsom Cordova Unified School District, Sacramento County, California, General Obligation Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/28 – NPFG Insured | No Opt. Call | AA- | 1,689,005 | ||
3,370 | Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 0.000%, 6/01/28 – AMBAC Insured | No Opt. Call | A+ | 2,567,738 | ||
4,055 | Kern Community College District, California, General Obligation Bonds, Series 2003A, 0.000%, 3/01/28 – FGIC Insured | No Opt. Call | Aa2 | 3,168,780 | ||
1,160 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (5) | 8/35 at 100.00 | Aa1 | 983,390 | ||
11,985 | Norwalk La Mirada Unified School District, Los Angeles County, California, General Obligation Bonds, Election of 2002, Series 2007C, 0.000%, 8/01/32 – AGM Insured | No Opt. Call | AA | 7,592,977 | ||
3,000 | Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election of 2004, Series 2007A, 0.000%, 8/01/25 – NPFG Insured | No Opt. Call | A2 | 2,484,000 | ||
8,040 | Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of Participation, Series 2006, 0.000%, 10/01/34 – NPFG Insured (ETM) | No Opt. Call | A+ (4) | 5,101,702 |
NXR | Nuveen Select Tax-Free Income Portfolio 3 (continued) |
Portfolio of Investments December 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
California (continued) | ||||||
$ 1,500 | Placer Union High School District, Placer County, California, General Obligation Bonds, Series 2004C, 0.000%, 8/01/32 – AGM Insured | No Opt. Call | AA | $968,250 | ||
8,000 | Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Election 2008 Series 2009A, 0.000%, 8/01/32 | No Opt. Call | AA- | 5,088,640 | ||
3,940 | Rancho Mirage Redevelopment Agency, California, Tax Allocation Bonds, Combined Whitewater and 1984 Project Areas, Series 2003A, 0.000%, 4/01/35 – NPFG Insured | No Opt. Call | A+ | 2,127,403 | ||
765 | San Diego Association of Governments, California, South Bay Expressway Toll Revenue Bonds, First Senior Lien Series 2017A, 5.000%, 7/01/42 | 7/27 at 100.00 | A | 860,051 | ||
2,525 | San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds, Non-WSIP, Series 2017A, 5.000%, 11/01/42 | 11/24 at 100.00 | AA- | 2,818,809 | ||
66,290 | Total California | 45,267,461 | ||||
Colorado – 5.4% | ||||||
500 | Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017, 5.000%, 12/01/22, 144A | No Opt. Call | N/R | 532,070 | ||
2,000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40 | 1/20 at 100.00 | AA- | 2,050,800 | ||
790 | Colorado School of Mines Board of Trustees, Golden, Colorado, Institutional Enterprise Revenue Bonds, Series 2017B, 5.000%, 12/01/47 | 12/27 at 100.00 | A+ | 881,300 | ||
1,935 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B, 5.000%, 11/15/43 | 11/23 at 100.00 | A+ | 2,116,290 | ||
1,295 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B, 0.000%, 9/01/32 – NPFG Insured | No Opt. Call | A | 761,991 | ||
5,520 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/28 – NPFG Insured | 9/20 at 63.98 | A | 3,359,362 | ||
1,000 | Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A, 5.000%, 12/01/33 | 12/25 at 100.00 | A | 1,104,260 | ||
13,040 | Total Colorado | 10,806,073 | ||||
Connecticut – 2.5% | ||||||
1,500 | Connecticut State, General Obligation Bonds, Refunding Series 2010C, 5.000%, 12/01/20 | 12/19 at 100.00 | A1 | 1,538,610 | ||
1,500 | Connecticut State, General Obligation Bonds, Refunding Series 2018C, 5.000%, 6/15/26 | No Opt. Call | A1 | 1,708,590 | ||
1,615 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2013A, 5.000%, 10/01/30 | 10/23 at 100.00 | A+ | 1,761,997 | ||
4,615 | Total Connecticut | 5,009,197 | ||||
Florida – 0.2% | ||||||
390 | Greater Orlando Aviation Authority, Florida, Orlando Airport Facilities Revenue Bonds, Priority Subordinated Series 2017, 5.000%, 10/01/47 (Alternative Minimum Tax) | 10/27 at 100.00 | A+ | 431,243 | ||
Guam – 1.7% | ||||||
1,250 | Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/39 | 11/25 at 100.00 | BB | 1,301,488 | ||
2,000 | Government of Guam, Hotel Occupancy Tax Revenue Bonds, Series 2011A, 6.125%, 11/01/31 | 5/21 at 100.00 | BB | 2,134,760 | ||
3,250 | Total Guam | 3,436,248 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Idaho – 1.6% | ||||||
$ 3,000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2014A, 5.000%, 3/01/44 | 3/24 at 100.00 | A- | $ 3,203,370 | ||
Illinois – 9.9% | ||||||
575 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016, 6.000%, 4/01/46 | 4/27 at 100.00 | A | 654,614 | ||
295 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C, 5.000%, 12/01/30 | 12/27 at 100.00 | BB- | 306,378 | ||
3,900 | Chicago Board of Education, Illinois, General Obligation Bonds, Series 1999A, 0.000%, 12/01/28 – FGIC Insured | No Opt. Call | Baa2 | 2,598,258 | ||
535 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Refunding Series 2016C, 5.000%, 1/01/20 | No Opt. Call | A | 551,366 | ||
870 | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%, 1/01/31 – AGM Insured | 3/19 at 100.00 | AA | 872,993 | ||
260 | Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A, 6.000%, 7/01/43 | 7/23 at 100.00 | A- | 285,568 | ||
1,235 | Illinois Health Facilities Authority, Revenue Bonds, Evangelical Hospitals Corporation, Series 1992C, 6.250%, 4/15/22 (ETM) | No Opt. Call | N/R (4) | 1,321,104 | ||
1,015 | Illinois State, General Obligation Bonds, October Series 2016, 5.000%, 2/01/19 | No Opt. Call | BBB | 1,017,081 | ||
2,190 | Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23 | No Opt. Call | BBB | 2,323,021 | ||
1,000 | Kankakee & Will Counties Community Unit School District 5, Illinois, General Obligation Bonds, Series 2006, 0.000%, 5/01/23 – AGM Insured | No Opt. Call | Aa3 | 891,560 | ||
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A: | ||||||
2,500 | 0.000%, 12/15/30 – NPFG Insured | No Opt. Call | BBB | 1,500,125 | ||
4,775 | 0.000%, 12/15/31 – NPFG Insured | No Opt. Call | BBB | 2,721,129 | ||
5,000 | 0.000%, 12/15/36 – NPFG Insured | No Opt. Call | BBB | 2,190,900 | ||
2,000 | 0.000%, 6/15/37 – NPFG Insured | No Opt. Call | BBB | 848,760 | ||
1,400 | Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/28 | 3/25 at 100.00 | A | 1,570,604 | ||
310 | University of Illinois, Health Services Facilities System Revenue Bonds, Series 2013, 6.000%, 10/01/42 | 10/23 at 100.00 | A- | 347,330 | ||
27,860 | Total Illinois | 20,000,791 | ||||
Indiana – 1.6% | ||||||
2,295 | Boone County Hospital Association, Indiana, Lease Revenue Bonds, Series 2010, 5.250%, 7/15/25 (Pre-refunded 1/15/20) | 1/20 at 100.00 | AA+ (4) | 2,375,922 | ||
1,000 | Zionsville Community Schools Building Corporation, Indiana, First Mortgage Bonds, Series 2005Z, 0.000%, 7/15/28 – AGM Insured | No Opt. Call | AA | 761,400 | ||
3,295 | Total Indiana | 3,137,322 | ||||
Iowa – 1.1% | ||||||
570 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2016, 5.875%, 12/01/26, 144A | 12/19 at 104.00 | B | 598,979 | ||
660 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Series 2018B, 5.250%, 12/01/50 (Mandatory Put 12/01/22) | 12/22 at 105.00 | B | 702,293 |
NXR | Nuveen Select Tax-Free Income Portfolio 3 (continued) |
Portfolio of Investments December 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Iowa (continued) | ||||||
$ 950 | Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B, 5.600%, 6/01/34 | 3/19 at 100.00 | BB- | $ 950,313 | ||
2,180 | Total Iowa | 2,251,585 | ||||
Massachusetts – 6.3% | ||||||
2,230 | Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2016BB-1, 5.000%, 10/01/46 | 10/26 at 100.00 | Aa3 | 2,493,564 | ||
1,000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Refunding Series 2016-I, 5.000%, 7/01/21 | No Opt. Call | A- | 1,064,340 | ||
1,300 | Massachusetts Development Finance Agency, Revenue Bonds, Olin College, Series 2013E, 5.000%, 11/01/43 | 11/23 at 100.00 | A+ | 1,414,166 | ||
2,250 | Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series 2014M-4, 5.000%, 7/01/44 | 7/23 at 100.00 | AA- | 2,413,417 | ||
400 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L, 3.625%, 7/01/37 | 7/27 at 100.00 | A- | 390,240 | ||
2,180 | Massachusetts Water Resources Authority, General Revenue Bonds, Refunding Green Series 2016C, 5.000%, 8/01/40 | 8/26 at 100.00 | AA+ | 2,457,776 | ||
1,000 | Newburyport, Massachusetts, General Obligation Bonds, Municipal Purpose Loan, Refunding Series 2013, 4.000%, 1/15/30 | 1/23 at 100.00 | AAA | 1,054,450 | ||
1,165 | University of Massachusetts Building Authority, Project Revenue Bonds, Senior Series 2014-1, 5.000%, 11/01/39 | 11/24 at 100.00 | Aa2 | 1,299,231 | ||
11,525 | Total Massachusetts | 12,587,184 | ||||
Michigan – 1.3% | ||||||
355 | Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds, Refunding Senior Lien Series 2012A, 5.250%, 7/01/39 | 7/22 at 100.00 | A+ | 381,188 | ||
2,000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2016-I, 5.000%, 4/15/35 | 10/26 at 100.00 | Aa2 | 2,286,180 | ||
2,355 | Total Michigan | 2,667,368 | ||||
Missouri – 0.1% | ||||||
270 | Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28 | 3/19 at 100.00 | AA+ | 270,432 | ||
Montana – 0.7% | ||||||
1,440 | Montana Facility Finance Authority, Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Camposite Deal Series 2010A, 4.750%, 1/01/40 | 1/20 at 100.00 | AA- | 1,468,915 | ||
Nebraska – 2.0% | ||||||
250 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018, 5.000%, 7/01/26 | 7/25 at 100.00 | BBB | 277,748 | ||
2,600 | Nebraska Public Power District, General Revenue Bonds, Series 2015A-2, 5.000%, 1/01/40 | 1/22 at 100.00 | A+ | 2,774,772 | ||
500 | Platte County School District 001, Columbus Public Schools, Nebraska, General Obligation Bonds, School Building Series 2014, 5.000%, 12/15/39 | 6/24 at 100.00 | Aa2 | 559,795 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Nebraska (continued) | ||||||
$ 500 | Southeast Community College Area, Nebraska, Certificates of Participation, Series 2018, 3.500%, 12/15/42 | 6/28 at 100.00 | Aa1 | $ 481,885 | ||
3,850 | Total Nebraska | 4,094,200 | ||||
Nevada – 0.8% | ||||||
445 | Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A, 5.000%, 9/01/37 | 9/27 at 100.00 | BBB+ | 479,305 | ||
1,000 | Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.250%, 7/01/42 | 1/20 at 100.00 | Aa3 | 1,026,440 | ||
1,445 | Total Nevada | 1,505,745 | ||||
New Hampshire – 0.5% | ||||||
1,000 | New Hampshire Business Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2003, 3.125%, 8/01/24 (Alternative Minimum Tax) | No Opt. Call | A- | 1,008,410 | ||
New Jersey – 2.8% | ||||||
1,850 | New Jersey Economic Development Authority, Sublease Revenue Bonds, New Jersey Transit Corporation Projects, Refunding Series 2017B, 5.000%, 11/01/23 | No Opt. Call | A- | 2,027,267 | ||
305 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, University Hospital Issue, Refunding Series 2015A, 5.000%, 7/01/28 – AGM Insured | 7/25 at 100.00 | AA | 346,532 | ||
4,900 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C, 0.000%, 12/15/28 – AMBAC Insured | No Opt. Call | A- | 3,323,474 | ||
7,055 | Total New Jersey | 5,697,273 | ||||
New Mexico – 0.5% | ||||||
1,000 | New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series 2007A, 5.250%, 9/01/42 (Alternative Minimum Tax) | 3/19 at 100.00 | N/R | 1,000,570 | ||
New York – 1.5% | ||||||
1,250 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/26 | 11/22 at 100.00 | AA- | 1,363,975 | ||
1,260 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series HH, 5.000%, 6/15/37 | 6/25 at 100.00 | AA+ | 1,414,615 | ||
265 | Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42 | 12/20 at 100.00 | Baa1 | 281,941 | ||
2,775 | Total New York | 3,060,531 | ||||
North Carolina – 0.3% | ||||||
500 | New Hanover County, North Carolina, General Obligation Bonds, School Series 2009, 4.000%, 6/01/21 (Pre-refunded 6/01/19) | 6/19 at 100.00 | AAA (4) | 504,785 | ||
Ohio – 5.6% | ||||||
2,250 | American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series 2009A, 5.750%, 2/15/39 – AGC Insured (Pre-refunded 2/15/19) | 2/19 at 100.00 | AA (4) | 2,260,800 | ||
1,465 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 6.000%, 6/01/42 | 3/19 at 100.00 | B- | 1,423,848 | ||
3,720 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37 | 6/22 at 100.00 | B- | 3,701,251 |
NXR | Nuveen Select Tax-Free Income Portfolio 3 (continued) |
Portfolio of Investments December 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Ohio (continued) | ||||||
$ 1,500 | Montgomery County, Ohio, Revenue Bonds, Miami Valley Hospital, Series 2011A, 5.750%, 11/15/21 | 11/20 at 100.00 | A | $1,591,425 | ||
1,475 | Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1, 5.000%, 2/15/48 | 2/23 at 100.00 | Aa3 | 1,581,894 | ||
1,000 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2005B, 4.000%, 1/01/34 (Mandatory Put 7/01/21) (6) | No Opt. Call | N/R | 695,000 | ||
11,410 | Total Ohio | 11,254,218 | ||||
Oklahoma – 0.2% | ||||||
345 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B, 5.000%, 8/15/38 | 8/28 at 100.00 | Baa3 | 370,309 | ||
Oregon – 1.5% | ||||||
490 | Clackamas County Hospital Facility Authority, Oregon, Senior Living Revenue Bonds, Willamette View Project, Series 2017A, 4.000%, 5/15/22 | No Opt. Call | N/R | 507,317 | ||
545 | Oregon Facilities Authority, Revenue Bonds, Reed College, Series 2017A, 4.000%, 7/01/41 | 7/27 at 100.00 | Aa2 | 566,091 | ||
1,000 | Oregon Facilities Authority, Revenue Bonds, Willamette University, Refunding Series 2016B, 5.000%, 10/01/40 | 10/26 at 100.00 | A | 1,125,480 | ||
750 | Washington and Clackamas Counties School District 23J Tigard-Tualatin, Oregon, General Obligation Bonds, Series 2017, 5.000%, 6/15/30 | 6/27 at 100.00 | AA+ | 887,625 | ||
2,785 | Total Oregon | 3,086,513 | ||||
Pennsylvania – 8.1% | ||||||
1,015 | Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013, 5.000%, 1/01/37 | 1/24 at 100.00 | A+ | 1,111,466 | ||
1,685 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Carnegie Mellon University, Series 2009, 5.000%, 8/01/21 | 2/19 at 100.00 | AA | 1,689,078 | ||
2,500 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, State System of Higher Education, Refunding Series 2016AT-1, 5.000%, 6/15/31 | 6/26 at 100.00 | Aa3 | 2,836,900 | ||
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue Bonds, Series 2010B-2: | ||||||
370 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | N/R (4) | 391,923 | ||
200 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | N/R (4) | 211,270 | ||
430 | 5.000%, 12/01/30 (Pre-refunded 12/01/20) | 12/20 at 100.00 | A2 (4) | 455,477 | ||
2,075 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Series 2009B, 5.000%, 12/01/22 (Pre-refunded 12/01/19) | 12/19 at 100.00 | A+ (4) | 2,132,996 | ||
4,455 | Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2015A, 5.000%, 7/01/40 | 7/24 at 100.00 | A+ | 4,881,967 | ||
2,500 | State Public School Building Authority, Pennsylvania, School Revenue Bonds, Harrisburg School District, Refunding Series 2009A, 4.750%, 11/15/29 – AGC Insured (Pre-refunded 5/15/19) | 5/19 at 100.00 | AA (4) | 2,528,250 | ||
15,230 | Total Pennsylvania | 16,239,327 |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Puerto Rico – 0.5% | ||||||
$ 945 | Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/31 – AMBAC Insured | No Opt. Call | C | $ 1,021,101 | ||
South Dakota – 0.2% | ||||||
400 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015, 5.000%, 11/01/35 | 11/25 at 100.00 | A+ | 442,536 | ||
Tennessee – 0.4% | ||||||
795 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45 | 1/23 at 100.00 | BBB+ | 847,661 | ||
Texas – 9.3% | ||||||
250 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011, 6.000%, 1/01/41 (Pre-refunded 1/01/21) | 1/21 at 100.00 | A- (4) | 269,557 | ||
85 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, 5.000%, 1/01/34 | 7/25 at 100.00 | A- | 93,229 | ||
4,640 | Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series 2013A, 5.500%, 4/01/53 | 10/23 at 100.00 | A- | 5,086,786 | ||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H: | ||||||
1,405 | 0.000%, 11/15/32 – NPFG Insured | 11/31 at 94.05 | Baa2 | 799,852 | ||
2,510 | 0.000%, 11/15/36 – NPFG Insured | 11/31 at 73.51 | Baa2 | 1,089,064 | ||
2,235 | Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3, 0.000%, 11/15/32 – NPFG Insured | 11/24 at 62.70 | Baa2 | 1,136,766 | ||
Harris County-Houston Sports Authority, Texas, Special Revenue Bonds, Refunding Senior Lien Series 2001A: | ||||||
3,045 | 0.000%, 11/15/34 – NPFG Insured | 11/30 at 78.27 | AA | 1,575,270 | ||
4,095 | 0.000%, 11/15/38 – NPFG Insured | 11/30 at 61.17 | AA | 1,611,751 | ||
2,255 | 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 | 2,346,530 | ||
125 | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, 4.625%, 10/01/31 (Alternative Minimum Tax), 144A | 10/21 at 105.00 | BB- | 127,396 | ||
290 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Capital Appreciation Series 2008I, 6.200%, 1/01/42 – AGC Insured | 1/25 at 100.00 | AA | 345,651 | ||
2,000 | Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series 2012, 5.000%, 12/15/32 | 12/22 at 100.00 | A3 | 2,152,560 | ||
2,410 | Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series 2002A, 0.000%, 8/15/25 – AMBAC Insured | No Opt. Call | A- | 2,020,761 | ||
25,345 | Total Texas | 18,655,173 | ||||
Virginia – 2.5% | ||||||
3,500 | Chesapeake, Virginia, Transportation System Senior Toll Road Revenue Bonds, Capital Appreciation Series 2012B, 0.000%, 7/15/32 (5) | 7/28 at 100.00 | BBB | 3,066,560 |
NXR | Nuveen Select Tax-Free Income Portfolio 3 (continued) |
Portfolio of Investments December 31, 2018 | |
(Unaudited) |
Principal Amount (000) | Description (1) | Optional Call Provisions (2) | Ratings (3) | Value | ||
Virginia (continued) | ||||||
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River Crossing, Opco LLC Project, Series 2012: | ||||||
$ 410 | 6.000%, 1/01/37 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB | $444,001 | ||
1,510 | 5.500%, 1/01/42 (Alternative Minimum Tax) | 7/22 at 100.00 | BBB | 1,601,672 | ||
5,420 | Total Virginia | 5,112,233 | ||||
Washington – 4.5% | ||||||
990 | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35 | 1/21 at 100.00 | A+ | 1,041,916 | ||
4,000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2012A, 5.000%, 10/01/32 | 10/22 at 100.00 | AA- | 4,370,160 | ||
1,700 | Washington State Health Care Facilities Authority, Revenue Bonds, PeaceHealth, Refunding Series 2009, 5.000%, 11/01/28 (Pre-refunded 11/01/19) | 11/19 at 100.00 | AA- (4) | 1,742,602 | ||
1,725 | Washington State, General Obligation Bonds, Various Purpose Series 2015B, 5.000%, 2/01/37 | 2/25 at 100.00 | AA+ | 1,926,514 | ||
8,415 | Total Washington | 9,081,192 | ||||
Wisconsin – 0.7% | ||||||
1,250 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2012B, 5.000%, 2/15/32 | 2/22 at 100.00 | A- | 1,327,650 | ||
$ 233,535 | Total Municipal Bonds (cost $177,084,967) | 198,963,727 |
Principal Amount (000) | Description (1) | Coupon | Maturity | Ratings (3) | Value | |
CORPORATE BONDS – 0.0% | ||||||
Transportation – 0.0% | ||||||
$ 87 | Las Vegas Monorail Company, Senior Interest Bonds (7), (8) | 5.500% | 7/15/19 | N/R | $57,648 | |
25 | Las Vegas Monorail Company, Senior Interest Bonds (7), (8) | 5.500% | 7/15/55 | N/R | 12,123 | |
$ 112 | Total Corporate Bonds (cost $5,474) | 69,771 | ||||
Total Long-Term Investments (cost $177,090,441) | 199,033,498 | |||||
Other Assets Less Liabilities – 1.2% | 2,379,967 | |||||
Net Assets Applicable to Common Shares – 100% | $ 201,413,465 |
Level 1 | Level 2 | Level 3 | Total | |
Long-Term Investments: | ||||
Municipal Bonds | $ — | $198,963,727 | $ — | $198,963,727 |
Corporate Bonds | — | — | 69,771 | 69,771 |
Total | $ — | $198,963,727 | $69,771 | $199,033,498 |
Tax cost of investments | $175,068,421 |
Gross unrealized: | |
Appreciation | $ 24,459,771 |
Depreciation | (494,694) |
Net unrealized appreciation (depreciation) of investments | $ 23,965,077 |
(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) | 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. | |
(5) | 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. | |
(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) | During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015) maturing on July 15, 2055. The Fund was not accruing income for either senior interest corporate bond. On January 18, 2017, the Fund's Adviser determined it was likely that this senior interest corporate bond would fulfill its obligation on the security maturing on July 15, 2019, and therefore began accruing income on the Fund's records. | |
(8) | Investment valued at fair value using methods determined in good faith by, or at the discretion of the Board. For fair value measurement disclosure purposes, investment classified as Level 3. | |
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. |
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 Select Tax-Free Income Portfolio 3 | |||
By (Signature and Title) | /s/ Gifford R. Zimmerman | |||
Gifford R. Zimmerman | ||||
Vice President and Secretary |
Date: March 1, 2019
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: March 1, 2019 | ||||
By (Signature and Title) | /s/ Stephen D. Foy | |||
Stephen D. Foy | ||||
Vice President and Controller (principal financial officer) | ||||
Date: March 1, 2019 |