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Portfolio of Investments
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Nuveen New York Municipal Value Fund 2 (NYV)
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May 31, 2017 (Unaudited)
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Principal
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Optional Call
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Amount (000)
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Description (1)
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Provisions (2)
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Ratings (3)
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Value
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LONG-TERM INVESTMENTS – 95.8% (100.0% of Total Investments)
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MUNICIPAL BONDS – 95.8% (100.0% of Total Investments)
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Consumer Staples – 3.9% (4.1% of Total Investments)
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$ 1,180
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District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds,
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No Opt. Call
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Baa1
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$ 1,343,111
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Series 2001, 6.500%, 5/15/33
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|
|
|
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100
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Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement
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8/17 at 100.00
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BB
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100,021
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Asset-Backed Bonds, Series 2005A, 5.000%, 6/01/38
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|
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1,280
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Total Consumer Staples
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1,443,132
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Education and Civic Organizations – 14.4% (15.0% of Total Investments)
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1,200
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Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter
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8/17 at 100.00
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B
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1,016,220
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Schools, Series 2007A, 5.000%, 4/01/37
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210
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Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,
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No Opt. Call
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B+
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214,586
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Enterprise Charter School Project, Series 2011A, 6.000%, 12/01/19
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|
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Build New York City Resource Corporation, New York, Revenue Bonds, South Bronx Charter School
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for International Cultures and the Arts Project, Series 2013A:
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|
|
|
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50
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5.000%, 4/15/33
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4/23 at 100.00
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BB+
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50,377
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|
75
|
5.000%, 4/15/43
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4/23 at 100.00
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BB+
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74,457
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|
100
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Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
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7/23 at 100.00
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A–
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110,926
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Series 2013A, 5.000%, 7/01/44
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|
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200
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Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
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7/25 at 100.00
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Aa2
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235,266
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2015A, 5.000%, 7/01/35
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|
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1,000
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Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
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7/20 at 100.00
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Aa1
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1,108,260
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University, Series 2010A, 5.000%, 7/01/40
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165
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Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics &
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12/26 at 100.00
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BB–
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169,671
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Technology, Series 2016A, 5.500%, 12/01/36
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145
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Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public
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1/34 at 100.00
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N/R
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106,565
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Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4)
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100
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Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University
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9/23 at 100.00
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A–
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114,379
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Project, Series 2013, 5.000%, 9/01/38
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|
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4,895
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New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project
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No Opt. Call
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AA
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2,078,809
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PILOT, Series 2009A, 0.000%, 3/01/40 – AGC Insured
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|
|
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8,140
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Total Education and Civic Organizations
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5,279,516
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Financials – 4.5% (4.7% of Total Investments)
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|
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1,000
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New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
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No Opt. Call
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A
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1,263,410
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Series 2005, 5.250%, 10/01/35
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300
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New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
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No Opt. Call
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A
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392,967
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Series 2007, 5.500%, 10/01/37
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|
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1,300
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Total Financials
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1,656,377
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Health Care – 0.6% (0.6% of Total Investments)
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|
|
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50
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Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds,
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7/20 at 100.00
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A
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54,589
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Series 2010, 5.000%, 7/01/26
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160
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Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital,
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8/17 at 100.00
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BB–
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160,299
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Series 2001B, 7.125%, 7/01/31
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210
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Total Health Care
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214,888
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Housing/Multifamily – 4.1% (4.3% of Total Investments)
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|
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1,000
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New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009A,
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5/19 at 100.00
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Aa2
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1,034,900
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5.250%, 11/01/41
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450
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New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B,
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5/19 at 100.00
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Aa2
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463,586
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4.500%, 11/01/29
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|
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1,450
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Total Housing/Multifamily
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|
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1,498,486
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Industrials – 2.0% (2.1% of Total Investments)
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105
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Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds, Pratt
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1/25 at 100.00
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N/R
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113,375
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Paper NY, Inc. Project, Series 2014, 5.000%, 1/01/35 (Alternative Minimum Tax)
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580
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New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
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11/24 at 100.00
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N/R
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623,639
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Center Project, Class 1 Series 2014, 5.000%, 11/15/44
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685
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Total Industrials
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737,014
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Tax Obligation/General – 4.4% (4.6% of Total Investments)
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|
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1,000
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Nassau County, New York, General Obligation Bonds, General Improvement Series 2016C,
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4/26 at 100.00
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A+
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1,154,150
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5.000%, 4/01/35
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400
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Yonkers, New York, General Obligation Bonds, Refunding Series 2011A, 5.000%, 10/01/24 –
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10/21 at 100.00
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AA
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459,240
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AGM Insured
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|
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|
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1,400
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Total Tax Obligation/General
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1,613,390
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Tax Obligation/Limited – 18.1% (18.9% of Total Investments)
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1,200
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Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds,
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3/19 at 100.00
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AAA
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1,281,552
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Education Series 2009A, 5.000%, 3/15/38
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560
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Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
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2/25 at 100.00
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AAA
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648,620
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Purpose Series 2015B Group C, 5.000%, 2/15/38
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|
|
|
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1,800
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Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B.
|
9/25 at 100.00
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AAA
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2,130,497
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Group A,B&C, 5.000%, 3/15/35
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|
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540
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Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2017A, 5.000%, 2/15/45
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2/27 at 100.00
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Aa3
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630,828
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|
1,500
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New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
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1/19 at 100.00
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AA
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1,594,635
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Series 2009-S5, 5.250%, 1/15/39
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|
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300
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New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
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2/24 at 100.00
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AAA
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347,178
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|
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Fiscal 2014 Series D-1, 5.000%, 2/01/35
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|
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5,900
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Total Tax Obligation/Limited
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|
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6,633,310
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Transportation – 10.0% (10.4% of Total Investments)
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1,000
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Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,
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1/24 at 100.00
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AA
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1,122,470
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Refunding Series 2013A, 5.000%, 1/15/42 – AGM Insured
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2,000
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New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx
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10/17 at 102.00
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N/R
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642,680
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Parking Development Company, LLC Project, Series 2007, 5.750%, 10/01/37 (5)
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155
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New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade
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11/21 at 100.00
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A+
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172,555
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Center Project, Series 2011, 5.000%, 11/15/44
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New York Transportation Development Corporation, New York, Special Facility Revenue Bonds,
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American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:
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220
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5.000%, 8/01/26 (Alternative Minimum Tax)
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8/21 at 100.00
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BB–
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237,230
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420
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5.000%, 8/01/31 (Alternative Minimum Tax)
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8/21 at 100.00
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BB–
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448,102
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645
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New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport
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7/24 at 100.00
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BBB
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705,217
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Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (Alternative Minimum Tax)
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Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
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Terminal LLC Project, Eighth Series 2010:
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180
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6.500%, 12/01/28
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8/17 at 100.00
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Baa1
|
182,992
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|
140
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6.000%, 12/01/36
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12/20 at 100.00
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Baa1
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158,221
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4,760
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Total Transportation
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3,669,467
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U.S. Guaranteed – 22.3% (23.3% of Total Investments) (6)
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290
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Albany Capital Resource Corporation, New York, St. Peter's Hospital Project, Series 2011,
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11/20 at 100.00
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N/R (6)
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338,479
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6.000%, 11/15/25 (Pre-refunded 11/15/20)
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|
|
|
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1,000
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Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
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7/17 at 100.00
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Aa2 (6)
|
1,003,530
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Facilities, Series 2007, 5.000%, 7/01/37 (Pre-refunded 7/01/17)
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|
|
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|
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Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
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|
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Revenue Bonds, Series 2008:
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|
|
|
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285
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6.500%, 12/01/21 (Pre-refunded 12/01/18)
|
12/18 at 100.00
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Baa3 (6)
|
304,591
|
|
140
|
6.125%, 12/01/29 (Pre-refunded 12/01/18)
|
12/18 at 100.00
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Baa3 (6)
|
150,853
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|
245
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6.250%, 12/01/37 (Pre-refunded 12/01/18)
|
12/18 at 100.00
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Baa3 (6)
|
264,708
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|
1,500
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Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
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5/19 at 100.00
|
A (6)
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1,631,520
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|
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Obligated Group, Series 2009A, 5.500%, 5/01/37 (Pre-refunded 5/01/19)
|
|
|
|
|
1,010
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Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series
|
7/17 at 100.00
|
N/R (6)
|
1,014,091
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|
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2007B, 5.625%, 7/01/37 (Pre-refunded 7/01/17)
|
|
|
|
|
1,200
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Guam Government, Limited Obligation Section 30 Revenue Bonds, Series 2009A, 5.750%, 12/01/34
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12/19 at 100.00
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BBB+ (6)
|
1,340,964
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(Pre-refunded 12/01/19)
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|
|
|
|
725
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Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2007A, 5.750%,
|
11/17 at 100.00
|
A (6)
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741,385
|
|
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11/15/37 (Pre-refunded 11/15/17)
|
|
|
|
|
1,325
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Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
5/18 at 100.00
|
AA– (6)
|
1,378,093
|
|
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Series 2008A, 5.000%, 11/15/33 (Pre-refunded 5/15/18)
|
|
|
|
|
7,720
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Total U.S. Guaranteed
|
|
|
8,168,214
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|
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Utilities – 5.5% (5.7% of Total Investments)
|
|
|
|
|
25
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Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
26,584
|
|
285
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A,
|
9/24 at 100.00
|
A–
|
322,079
|
|
|
5.000%, 9/01/44
|
|
|
|
|
605
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Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
|
11/17 at 100.00
|
BB+
|
608,182
|
|
|
Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 (Alternative
|
|
|
|
|
|
Minimum Tax)
|
|
|
|
|
905
|
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE,
|
12/23 at 100.00
|
AAA
|
1,049,574
|
|
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5.000%, 12/15/41
|
|
|
|
|
1,820
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Total Utilities
|
|
|
2,006,419
|
|
|
Water and Sewer – 6.0% (6.3% of Total Investments)
|
|
|
|
|
900
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New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
12/21 at 100.00
|
AA+
|
1,009,269
|
|
|
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44
|
|
|
|
|
1,000
|
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
|
6/27 at 100.00
|
AAA
|
1,199,110
|
|
|
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second
|
|
|
|
|
|
Resolution Bonds, Subordinated SRF Series 2017A, 5.000%, 6/15/42
|
|
|
|
|
1,900
|
Total Water and Sewer
|
|
|
2,208,379
|
|
$ 36,565
|
Total Long-Term Investments (cost $32,358,488)
|
|
|
35,128,592
|
|
|
Other Assets Less Liabilities – 4.2%
|
|
|
1,548,820
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 36,677,412
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Long-Term Investments:
|
|
|
|
|
Municipal Bonds
|
$ —
|
$35,128,592
|
$ —
|
$35,128,592
|
Gross unrealized:
|
|
Appreciation
|
$3,517,512
|
Depreciation
|
(536,839)
|
Net unrealized appreciation (depreciation) of investments
|
$2,980,673
|
(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)
|
Step-up coupon. The rate shown is the coupon as of the end of the reporting period.
|
|
(5)
|
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.
|
|
(6)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
|
|
|
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
|
|
|
agency securities are regarded as having an implied rating equal to the ratings of such securities.
|
a.
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
By (Signature and Title) | /s/ Gifford R. Zimmerman |
Gifford R. Zimmerman
Vice President and Secretary
|
By (Signature and Title) | /s/ Cedric H. Antosiewicz |
Cedric H. Antosiewicz
Chief Administrative Officer (principal executive officer)
|
By (Signature and Title) | /s/ Stephen D. Foy |
Stephen D. Foy
Vice President and Controller (principal financial officer)
|