Nuveen Ohio Quality Municipal Income Fund

 

 

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 811-06385

Nuveen Ohio Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

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

Date of fiscal year end: February 28

Date of reporting period: November 30, 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

 

 

NUO
Nuveen Ohio Quality Municipal Income Fund
Portfolio of Investments    November 30, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 155.4% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 155.4% (100.0% of Total Investments)        
    Consumer Staples  – 4.3% (2.8% of Total Investments)        
$ 13,120   Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/47   1/19 at 100.00 B- $ 12,449,044
    Education and Civic Organizations – 15.2% (9.8% of Total Investments)        
    Lorain County Community College District, Ohio, General Receipts Revenue Bonds, Series 2017:        
1,305   5.000%, 12/01/32   6/27 at 100.00 Aa2 1,483,654
1,200   5.000%, 12/01/33   6/27 at 100.00 Aa2 1,358,544
505   5.000%, 12/01/34   6/27 at 100.00 Aa2 569,721
    Miami University of Ohio, General Receipts Bonds, Refunding Series 2014:        
4,375   5.000%, 9/01/33   9/24 at 100.00 AA 4,859,969
2,500   4.000%, 9/01/39   9/24 at 100.00 AA 2,542,250
2,585   Miami University of Ohio, General Receipts Bonds, Refunding Series 2017, 5.000%, 9/01/41   9/26 at 100.00 AA 2,869,893
    Miami University of Ohio, General Receipts Bonds, Series 2011:        
130   5.000%, 9/01/33   9/21 at 100.00 AA 138,377
1,960   5.000%, 9/01/36   9/21 at 100.00 AA 2,084,695
    Miami University of Ohio, General Receipts Bonds, Series 2012:        
480   4.000%, 9/01/32   9/22 at 100.00 AA 495,994
1,000   4.000%, 9/01/33   9/22 at 100.00 AA 1,027,960
    Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University Project, Series 2012:        
120   5.000%, 11/01/27   5/22 at 100.00 AA 130,114
590   5.000%, 11/01/32   5/22 at 100.00 AA 635,914
5,000   Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Refunding Series 2013, 5.000%, 12/01/43   12/22 at 100.00 A+ 5,360,500
1,000   Ohio University at Athens, General Receipts Bonds, Series 2013, 5.000%, 12/01/39   12/22 at 100.00 Aa3 1,077,830
1,000   Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015, 6.000%, 3/01/45   3/25 at 100.00 N/R 990,760
1,000   University of Cincinnati, Ohio, General Receipts Bonds, Green Bond Series 2014C, 5.000%, 6/01/41   12/24 at 100.00 AA- 1,106,620
5,175   University of Cincinnati, Ohio, General Receipts Bonds, Series 2016C, 5.000%, 6/01/46   6/26 at 100.00 AA- 5,687,842
7,580   Wright State University, Ohio, General Receipts Bonds, Series 2011A, 5.000%, 5/01/31  –  BAM Insured   5/21 at 100.00 AA 7,996,369
1

NUO Nuveen Ohio Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Youngstown State University, Ohio, General Receipts Bonds, Refunding Series 2017:        
$ 1,555   5.000%, 12/15/29   12/26 at 100.00 A+ $1,765,967
1,670   5.000%, 12/15/30   12/26 at 100.00 A+ 1,886,432
40,730   Total Education and Civic Organizations       44,069,405
    Health Care – 16.2% (10.4% of Total Investments)        
3,000   Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children's Hospital Medical Center, Improvement Series 2013, 5.000%, 11/15/38   5/23 at 100.00 AA- 3,228,750
    Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena Health System Obligated Group Project, Refunding & Improvement Series 2017:        
2,250   5.000%, 12/01/37   12/27 at 100.00 A- 2,434,478
1,000   5.000%, 12/01/47   12/27 at 100.00 A- 1,063,920
2,400   Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project, Series 2013, 5.000%, 6/15/43   6/23 at 100.00 Baa3 2,477,544
250   Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A, 5.000%, 11/15/41   11/21 at 100.00 AA+ 265,540
4,480   Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Tender Option Bond Trust 2016-XL0004, 7.680%, 11/15/41, 144A (IF) (4)   11/21 at 100.00 AA+ 5,036,909
1,730   Franklin County, Ohio, Revenue Bonds, Trinity Health Credit Group, Series 2017A, 5.000%, 12/01/47   12/27 at 100.00 AA- 1,896,357
300   Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding Series 2008C, 6.000%, 8/15/29   2/19 at 100.00 A- 300,879
820   Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center Project, Refunding Series 2011, 5.250%, 8/01/41   8/21 at 100.00 A2 878,843
    Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A:        
2,575   5.000%, 5/01/30   2/19 at 100.00 BBB+ 2,601,831
2,040   5.000%, 5/01/32   2/19 at 100.00 BBB+ 2,060,869
6,105   Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013, 5.000%, 2/15/44   2/23 at 100.00 BB+ 6,187,662
1,100   Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic Health System Obligated Group, Series 2012A, 5.000%, 1/01/38   1/22 at 100.00 AA 1,174,261
    Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health System Project, Series 2010:        
1,520   5.250%, 11/15/40  –  AGM Insured   5/20 at 100.00 AA 1,576,316
555   5.750%, 11/15/40  –  AGM Insured   5/20 at 100.00 AA 580,613
    Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health System Obligated Group, Refunding Series 2017A:        
1,000   5.000%, 1/01/30   1/28 at 100.00 AA 1,170,700
2,090   5.000%, 1/01/33   1/28 at 100.00 AA 2,410,899
    Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc., Series 2013A:        
1,000   5.000%, 1/15/28   1/23 at 100.00 A 1,084,130
2,000   5.000%, 1/15/29   1/23 at 100.00 A 2,154,500
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Health Care (continued)        
    Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County Hospital Project, Series 2012:        
$ 2,670   5.000%, 12/01/37   12/22 at 100.00 Ba1 $2,743,825
5,510   5.000%, 12/01/42   12/22 at 100.00 Ba1 5,627,694
44,395   Total Health Care       46,956,520
    Housing/Multifamily – 1.2% (0.8% of Total Investments)        
187   Franklin County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds, Agler Project, Series 2002A, 5.550%, 5/20/22 (Alternative Minimum Tax)   2/19 at 100.00 Aaa 187,411
3,340   Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax)   9/19 at 100.00 Aa1 3,371,062
3,527   Total Housing/Multifamily       3,558,473
    Industrials – 1.3% (0.9% of Total Investments)        
3,495   Toledo-Lucas County Port Authority, Ohio, Revenue Refunding Bonds, CSX Transportation Inc., Series 1992, 6.450%, 12/15/21   No Opt. Call Baa1 3,891,158
1,600   Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc., Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (5)   7/19 at 100.00 N/R 16
5,095   Total Industrials       3,891,174
    Long-Term Care – 1.1% (0.7% of Total Investments)        
895   Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26   7/20 at 100.00 BBB 925,403
2,220   Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding & improvement Series 2010, 6.625%, 4/01/40   4/20 at 100.00 BBB- 2,318,923
3,115   Total Long-Term Care       3,244,326
    Tax Obligation/General – 20.4% (13.2% of Total Investments)        
2,500   Clark-Shawnee Local School District, Clark County, Ohio, General Obligation Bonds, School Facilities Construction & Improvement Series 2017, 5.000%, 11/01/54   11/27 at 100.00 AA 2,770,675
1,050   Cleveland, Ohio, General Obligation Bonds, Various Purpose Series 2018, 5.000%, 12/01/43   6/28 at 100.00 AA+ 1,170,876
    Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Refunding Series 2006:        
4,310   0.000%, 12/01/27  –  AGM Insured   No Opt. Call AA+ 3,259,825
5,835   0.000%, 12/01/28  –  AGM Insured   No Opt. Call AA+ 4,232,242
2,250   Columbus, Ohio, General Obligation Bonds, Various Purpose Series 2018A, 5.000%, 4/01/29   10/28 at 100.00 AAA 2,711,137
    Dublin, Ohio, General Obligation Bonds, Limited Tax Various Purpose Series 2015:        
725   5.000%, 12/01/26   12/25 at 100.00 Aaa 847,192
900   5.000%, 12/01/32   12/25 at 100.00 Aaa 1,035,414
1,000   5.000%, 12/01/34   12/25 at 100.00 Aaa 1,141,540
1,730   Franklin County, Ohio, General Obligation Bonds, Refunding Series 2014, 5.000%, 6/01/31   12/23 at 100.00 AAA 1,942,133
3

NUO Nuveen Ohio Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/General (continued)        
    Gallia County Local School District, Gallia and Jackson Counties, Ohio, General Obligation Bonds, Refunding School Improvement Series 2014:        
$ 1,260   5.000%, 11/01/30   11/24 at 100.00 Aa2 $1,403,413
1,540   5.000%, 11/01/31   11/24 at 100.00 Aa2 1,710,863
    Greenville City School District, Drake County, Ohio, General Obligation Bonds, School Improvement Series 2013:        
555   5.250%, 1/01/38   1/22 at 100.00 AA 601,265
1,355   5.250%, 1/01/41   1/22 at 100.00 AA 1,466,693
1,355   Grove City, Ohio, General Obligation Bonds, Construction & Improvement Series 2009, 5.125%, 12/01/36   12/19 at 100.00 Aa1 1,395,352
2,160   Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2011, 0.000%, 12/01/21   No Opt. Call Aa1 2,022,538
    Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding Series 2007:        
3,625   5.250%, 12/01/28  –  AGM Insured   No Opt. Call A2 4,290,260
4,500   5.250%, 12/01/31  –  AGM Insured   No Opt. Call A2 5,371,830
1,305   Monroe Local School District, Butler County, Ohio, General Obligation Bonds, Series 2006, 5.500%, 12/01/24  –  AMBAC Insured   No Opt. Call A1 1,497,344
725   Napoleon City School District, Henry County, Ohio, General Obligation Bonds, Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36   6/22 at 100.00 Aa3 777,700
2,880   Ohio State, General Obligation Bonds, Higher Education, Series 2017A, 5.000%, 5/01/36   5/25 at 100.00 AA+ 3,211,690
3,000   Ohio State, General Obligation Bonds, Highway Capital Improvement, Series 2014R, 5.000%, 5/01/29   5/24 at 100.00 AAA 3,364,230
    Ohio State, General Obligation Bonds, Highway Capital Improvement, Series 2018V:        
2,500   5.000%, 5/01/33, (WI/DD, Settling 12/12/18)   5/28 at 100.00 AAA 2,919,675
1,250   5.000%, 5/01/34, (WI/DD, Settling 12/12/18)   5/28 at 100.00 AAA 1,454,262
5,000   South Euclid, Ohio, General Obligation Bonds, Real Estate Acquisition and Urban Redevelopment, Series 2012, 5.000%, 6/01/42   6/22 at 100.00 Aa2 5,377,300
450   South-Western City School District, Franklin and Pickaway Counties, Ohio, General Obligation Bonds, School Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36   6/22 at 100.00 AA 486,450
1,500   Springboro Community City School District, Warren County, Ohio, General Obligation Bonds, Refunding Series 2007, 5.250%, 12/01/32   No Opt. Call AA 1,825,680
1,000   Upper Arlington City School District, Franklin County, Ohio, General Obligation Bonds, School Facilities & Improvement Series 2018A, 5.000%, 12/01/48   12/27 at 100.00 AAA 1,122,240
56,260   Total Tax Obligation/General       59,409,819
    Tax Obligation/Limited – 36.9% (23.8% of Total Investments)        
8,045   Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien Series 2015A-2, 5.000%, 10/01/37   10/23 at 100.00 AA+ 8,773,797
    Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien Series 2017B-2:        
1,250   5.000%, 10/01/31   4/28 at 100.00 AA+ 1,441,000
1,000   5.000%, 10/01/32   4/28 at 100.00 AA+ 1,149,310
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$ 3,000   Cleveland, Ohio, Income Tax Revenue Bonds, Public Facilities Improvements, Series 2014A-1, 5.000%, 11/15/38   11/23 at 100.00 AA+ $3,273,900
    Cleveland, Ohio, Income Tax Revenue Bonds, Subordinate Lien Improvement and Refunding Series 2017A-2:        
435   5.000%, 10/01/30   10/27 at 100.00 AA+ 501,999
700   5.000%, 10/01/33   10/27 at 100.00 AA+ 799,071
500   Columbus-Franklin County Finance Authority, Ohio, Development Revenue Bonds, Hubbard Avenue Parking Facility Project, Series 2012A, 5.000%, 12/01/36   12/19 at 100.00 BBB 503,940
6,750   Cuyahoga County, Ohio, Economic Development Revenue Bonds, Medical Mart-Convention Center Project, Recovery Zone Facility Series 2010F, 5.000%, 12/01/27   12/20 at 100.00 AA 7,121,722
    Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Refunding Various Purpose Series 2014:        
1,815   5.000%, 12/01/32   12/24 at 100.00 AAA 2,040,242
1,415   5.000%, 12/01/33   12/24 at 100.00 AAA 1,586,441
1,000   5.000%, 12/01/34   12/24 at 100.00 AAA 1,118,240
945   5.000%, 12/01/35   12/24 at 100.00 AAA 1,053,977
300   Delaware County District Library, Ohio, Library Fund Library Facilities Special Obligation Notes, Series 2009, 5.000%, 12/01/34   12/19 at 100.00 Aa2 308,868
1,920   Dublin, Ohio, Special Obligation Non-Tax Revenue Bonds, Series 2015A, 5.000%, 12/01/44   12/25 at 100.00 Aa1 2,119,795
10,350   Franklin County Convention Facilities Authority, Ohio, Excise Tax and Lease Revenue Bonds, Columbus City & Franklin County Lessees, Refunding Anticipation Series 2014, 5.000%, 12/01/35   12/24 at 100.00 Aa1 11,591,896
    Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose Series 2018:        
2,120   5.000%, 6/01/36   6/28 at 100.00 AAA 2,449,024
6,500   5.000%, 6/01/43   6/28 at 100.00 AAA 7,388,485
5,535   5.000%, 6/01/48   6/28 at 100.00 AAA 6,267,502
1,000   Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement Bonds, Refunding Series 2015, 5.000%, 12/01/34   12/25 at 100.00 AAA 1,128,660
1,200   Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement Bonds, Refunding Series 2016, 5.000%, 12/01/28   12/26 at 100.00 AAA 1,393,464
5,565   Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series 2000B, 0.000%, 12/01/28  –  AMBAC Insured   No Opt. Call AA 4,008,748
5,000   Hamilton County, Ohio, Sales Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 12/01/31   12/21 at 100.00 A1 5,377,600
20,700   JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series 2013A, 5.000%, 1/01/38   1/23 at 100.00 AA 22,408,578
1,000   New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series 2012C, 5.000%, 10/01/24   10/22 at 100.00 Aa3 1,092,530
    Ohio State, Capital Facilities Lease-Appropriation Bonds, Parks & Recreation Improvement Fund Projects, Series 2017A:        
915   5.000%, 12/01/31   12/27 at 100.00 AA 1,060,631
1,345   5.000%, 12/01/32   12/27 at 100.00 AA 1,554,470
5

NUO Nuveen Ohio Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited (continued)        
$ 1,845   Pinnacle Community Infrastructure Financing Authority, Grove City, Ohio, Community Facilities Bonds, Series 2015A, 4.250%, 12/01/36  –  AGM Insured   12/25 at 100.00 AA $1,886,439
400   Port of Greater Cincinnati Development Authority, Ohio, Special Obligation Development TIF Revenue Bonds, RBM Development - Phase 2B Project, Series 2018A, 6.000%, 12/01/50   12/28 at 100.00 N/R 412,732
    Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Payable from City of Columbus, Ohio Annual Rental Appropriations, Refunding Series 2012A:        
1,645   5.000%, 12/01/23   12/22 at 100.00 AA+ 1,818,761
1,200   5.000%, 12/01/24   12/22 at 100.00 AA+ 1,324,344
    Vermilion Local School District, Erie and Lorain Counties, Ohio, Certificates of Participation, School Facilities Project, Series 2012:        
765   5.000%, 12/01/24   12/20 at 100.00 Aa3 806,058
805   5.000%, 12/01/25   12/20 at 100.00 Aa3 847,721
2,450   Westerville City School District, Franklin and Delaware Counties, Ohio, Certificates of Participation, School Facilities Project, Series 2018, 5.000%, 12/01/39   12/27 at 100.00 Aa2 2,733,392
99,415   Total Tax Obligation/Limited       107,343,337
    Transportation – 17.5% (11.2% of Total Investments)        
    Cleveland, Ohio, Airport System Revenue Bonds, Series 2012A:        
2,150   5.000%, 1/01/30   1/22 at 100.00 A 2,294,480
1,500   5.000%, 1/01/31  –  AGM Insured   1/22 at 100.00 AA 1,604,010
    Dayton, Ohio, Airport Revenue Bonds, James M. Cox International Airport, Series 2015B:        
860   5.000%, 12/01/33  –  AGM Insured   12/23 at 100.00 AA 942,913
500   5.000%, 12/01/34  –  AGM Insured   12/23 at 100.00 AA 547,235
    Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC - Borrower, Portsmouth Bypass Project, Series 2015:        
2,500   5.000%, 12/31/35  –  AGM Insured (Alternative Minimum Tax)   6/25 at 100.00 AA 2,715,350
3,000   5.000%, 12/31/39  –  AGM Insured (Alternative Minimum Tax)   6/25 at 100.00 AA 3,227,430
4,250   5.000%, 6/30/53 (Alternative Minimum Tax)   6/25 at 100.00 A- 4,450,812
    Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series 2013A-1:        
2,050   5.250%, 2/15/39   2/23 at 100.00 Aa3 2,247,497
6,000   5.000%, 2/15/48   2/23 at 100.00 Aa3 6,396,480
    Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien, Capital Appreciation Series 2013A-2:        
5,000   0.000%, 2/15/37   No Opt. Call Aa3 2,406,150
11,260   0.000%, 2/15/38   No Opt. Call Aa3 5,166,201
5,000   0.000%, 2/15/40   No Opt. Call Aa3 2,080,350
15,000   Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Series 2018A, 5.000%, 2/15/46 (UB)   2/28 at 100.00 Aa3 16,718,100
59,070   Total Transportation       50,797,008
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed – 24.5% (15.7% of Total Investments) (6)        
$ 1,950   Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series 2010A, 5.250%, 6/01/38 (Pre-refunded 6/01/20)   6/20 at 100.00 AA- $2,040,909
    Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010:        
1,165   5.500%, 11/01/40 (Pre-refunded 11/01/20)   11/20 at 100.00 N/R 1,239,141
2,335   5.500%, 11/01/40 (Pre-refunded 11/01/20)   11/20 at 100.00 A 2,483,599
    Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements, Series 2012:        
110   5.000%, 12/01/26 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R 120,530
1,140   5.000%, 12/01/26 (Pre-refunded 6/01/22)   6/22 at 100.00 Aaa 1,253,168
245   5.000%, 12/01/28 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R 268,454
2,545   5.000%, 12/01/28 (Pre-refunded 6/01/22)   6/22 at 100.00 Aaa 2,797,642
160   5.000%, 12/01/29 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R 175,317
1,605   5.000%, 12/01/29 (Pre-refunded 6/01/22)   6/22 at 100.00 Aaa 1,764,328
    Cincinnati, Ohio, General Obligation Bonds, Various Purpose, Refunding Series 2012A:        
1,960   5.000%, 12/01/31 (Pre-refunded 12/01/20)   12/20 at 100.00 AA 2,076,620
875   5.000%, 12/01/32 (Pre-refunded 12/01/20)   12/20 at 100.00 AA 927,063
8,150   Cincinnati, Ohio, Water System Revenue Bonds, Series 2012A, 5.000%, 12/01/37 (Pre-refunded 12/01/21)   12/21 at 100.00 AAA 8,851,633
2,000   Cleveland, Ohio, General Obligation Bonds, Series 2011, 5.000%, 12/01/29 (Pre-refunded 12/01/19)   12/19 at 100.00 AA+ 2,061,820
    Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien Series 2013A-2:        
1,315   5.000%, 10/01/27 (Pre-refunded 10/01/23)   10/23 at 100.00 AA+ 1,482,636
1,520   5.000%, 10/01/30 (Pre-refunded 10/01/23)   10/23 at 100.00 AA+ 1,713,770
1,600   5.000%, 10/01/31 (Pre-refunded 10/01/23)   10/23 at 100.00 AA+ 1,803,968
2,705   Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien Series 2015A-2, 5.000%, 10/01/37 (Pre-refunded 10/01/23)   10/23 at 100.00 N/R 3,049,833
    Cleveland, Ohio, Water Revenue Bonds, Refunding Second Lien Series 2012A:        
2,500   5.000%, 1/01/25 (Pre-refunded 1/01/22)   1/22 at 100.00 AA 2,721,000
1,975   5.000%, 1/01/26 (Pre-refunded 1/01/22)   1/22 at 100.00 AA 2,149,590
1,140   Columbia Local School District, Lorain County, Ohio, General Obligation Bonds, School Facilities Improvement Series 2011, 5.000%, 11/01/39 (Pre-refunded 11/01/21)  –  AGM Insured   11/21 at 100.00 A1 1,235,464
    Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children's Hospital Project, Improvement Series 2009:        
250   5.000%, 11/01/34 (Pre-refunded 11/01/19)   11/19 at 100.00 Aa2 256,760
2,615   5.250%, 11/01/40 (Pre-refunded 11/01/19)   11/19 at 100.00 Aa2 2,691,541
7

NUO Nuveen Ohio Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed (6) (continued)        
    Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement Bonds, Refunding Series 2012:        
$ 1,010   5.250%, 12/01/27 (Pre-refunded 12/01/21)   12/21 at 100.00 AAA $1,104,243
1,090   5.250%, 12/01/28 (Pre-refunded 12/01/21)   12/21 at 100.00 AAA 1,191,708
760   5.250%, 12/01/30 (Pre-refunded 12/01/21)   12/21 at 100.00 AAA 830,916
600   5.000%, 12/01/31 (Pre-refunded 12/01/21)   12/21 at 100.00 AAA 651,654
3,225   Hancock County, Ohio, Hospital Revenue Bonds, Blanchard Valley Regional Health Center, Series 2011A, 6.250%, 12/01/34 (Pre-refunded 6/01/21)   6/21 at 100.00 A+ 3,549,080
3,965   Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41 (Pre-refunded 11/15/21)   11/21 at 100.00 Baa1 4,402,221
2,000   Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Series 2013, 5.000%, 11/15/38 (Pre-refunded 5/15/23)   5/23 at 100.00 AA+ 2,236,000
945   Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health System Project, Series 2010, 5.750%, 11/15/40 (Pre-refunded 5/15/20)  –  AGM Insured   5/20 at 100.00 AA 994,461
4,550   Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic Health System Obligated Group, Refunding Series 2009A, 5.500%, 1/01/39 (Pre-refunded 1/01/19)   1/19 at 100.00 AA 4,562,376
5,350   Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System Obligated Group, Tender Option Bond Trust 2015-XF0105, 14.892%, 1/01/39 (Pre-refunded 1/01/19), 144A (IF)   1/19 at 100.00 AA 5,408,315
1,800   South-Western City School District, Franklin and Pickaway Counties, Ohio, General Obligation Bonds, School Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36 (Pre-refunded 6/01/22)   6/22 at 100.00 N/R 1,975,500
    Vandalia Butler City School District, Montgomery County, Ohio, General Obligation Bonds, School Improvement Series 2009:        
685   5.125%, 12/01/37 (Pre-refunded 6/01/19)   6/19 at 100.00 N/R 695,892
315   5.125%, 12/01/37 (Pre-refunded 6/01/19)   6/19 at 100.00 AA- 320,087
66,155   Total U.S. Guaranteed       71,087,239
    Utilities – 4.9% (3.1% of Total Investments)        
1,430   American Municipal Power, Inc., Ohio, Greenup Hydroelectric Project Revenue Bonds, Refunding Series 2016A, 5.000%, 2/15/41   2/26 at 100.00 A1 1,551,150
1,500   American Municipal Power, Inc., Ohio, Prairie State Energy Campus Project Revenue Bonds, Series 2015A, 5.000%, 2/15/42   2/24 at 100.00 A1 1,623,030
1,565   Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B-1, 0.000%, 11/15/33  –  NPFG Insured   No Opt. Call A- 873,442
    Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B-2:        
2,000   0.000%, 11/15/28  –  NPFG Insured   No Opt. Call A- 1,405,200
6,895   0.000%, 11/15/32  –  NPFG Insured   No Opt. Call A- 4,039,780
2,155   0.000%, 11/15/34  –  NPFG Insured   No Opt. Call A- 1,144,111
1,500   Ohio Air Quality Development Authority, Air Quality Revenue Refunding Bonds, Columbus Southern Power Company Project, Series 2009B, 5.800%, 12/01/38   12/19 at 100.00 A2 1,544,595
2,000   Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, 3.750%, 12/01/23 (5)   No Opt. Call N/R 1,375,000
8

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Utilities (continued)        
$ 950   Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville Hydroelectric Project - Joint Venture 5, Series 2001, 0.000%, 2/15/29  –  NPFG Insured   No Opt. Call A1 $ 668,240
19,995   Total Utilities       14,224,548
    Water and Sewer – 11.9% (7.6% of Total Investments)        
8,000   Cincinnati, Ohio, Water System Revenue Bonds, Series 2016A, 5.000%, 12/01/46   12/26 at 100.00 AAA 8,978,400
2,035   Cleveland, Ohio, Water Revenue Bonds, Senior Lien Series 2012X, 5.000%, 1/01/42   1/22 at 100.00 AA+ 2,175,293
375   Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series 1993G, 5.500%, 1/01/21  –  NPFG Insured   No Opt. Call Aa1 387,491
1,275   Hamilton County, Ohio, Sewer System Revenue Bonds, Metropolitan Sewer District of Greater Cincinnati, Refunding Series 2014A, 5.000%, 12/01/31   12/24 at 100.00 AA+ 1,439,233
2,025   Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%, 12/01/40  –  AGM Insured   12/20 at 100.00 A2 2,077,772
    Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Refunding & Improvement Series 2014:        
2,950   5.000%, 11/15/39   11/24 at 100.00 AA+ 3,242,138
1,400   5.000%, 11/15/44   11/24 at 100.00 AA+ 1,533,084
    Toledo, Ohio, Sewerage System Revenue Bonds, Refunding Series 2013:        
820   5.000%, 11/15/25   11/23 at 100.00 Aa3 909,593
605   5.000%, 11/15/26   11/23 at 100.00 Aa3 669,620
1,075   5.000%, 11/15/27   11/23 at 100.00 Aa3 1,187,198
695   5.000%, 11/15/28   11/23 at 100.00 Aa3 766,522
10,000   Toledo, Ohio, Water System Revenue Bonds, Series 2016, 5.000%, 11/15/41 (UB) (4)   11/26 at 100.00 AA- 11,091,200
31,255   Total Water and Sewer       34,457,544
$ 442,132   Total Long-Term Investments (cost $439,321,392)       451,488,437
    Floating Rate Obligations – (6.9)%       (20,000,000)
    Variable Rate Demand Preferred Shares, net of deferred offering costs – (50.9)% (7)       (147,757,136)
    Other Assets Less Liabilities – 2.4%       6,818,078
    Net Asset Applicable to Common Shares – 100%       $ 290,549,379
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
9

NUO Nuveen Ohio Quality Municipal Income Fund (continued)
  Portfolio of Investments November 30, 2018
  (Unaudited)
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Municipal Bonds $ — $451,488,437 $ — $451,488,437
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
The table below presents the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of November 30, 2018.
Tax cost of investments $419,053,416
Gross unrealized:  
Appreciation $ 16,708,268
Depreciation (4,273,267)
Net unrealized appreciation (depreciation) of investments $ 12,435,001
(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) 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.  
(7) Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 32.7%.  
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.  
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.  
UB Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.  
10

Item 2. Controls and Procedures.

 

  a.

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and 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.

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 Ohio Quality Municipal Income Fund   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                       
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: January 29, 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: January 29, 2019      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: January 29, 2019